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
8500 Andrew Carnegie Blvd.

Charlotte, North Carolina 28262-8500

(Name and address of agent for service)

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

Date of fiscal year end: December 31

Date of reporting period: September 30, 2016

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2016

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
$	466,000	m	Asia Pacific Investment Partners		8.000	%	04/23/17	$	425
			TOTAL DIVERSIFIED FINANCIALS						425
FOOD, BEVERAGE & TOBACCO - 0.0%
BRL	800	m	Marfrig Global Foods S.A.		1.000		01/25/17		25
			TOTAL FOOD, BEVERAGE & TOBACCO						25
			TOTAL CORPORATE BONDS						450
			(Cost $513)
GOVERNMENT BONDS -  0.0%
U.S. TREASURY SECURITIES - 0.0%
$	300,000		United States Treasury Note		1.750		05/15/22		308
			TOTAL U.S. TREASURY SECURITIES						308
			TOTAL GOVERNMENT BONDS						308
			(Cost $302)
			TOTAL BONDS						758
			(Cost $815)
SHARES			COMPANY
COMMON STOCKS - 99.4%
AUTOMOBILES & COMPONENTS - 1.9%
	196,085		Actron Technology Corp						713
	221,700		Aisan Industry Co Ltd						1,759
	914,701		Aisin Seiki Co Ltd						41,906
	48,200	e	Akebono Brake Industry Co Ltd						97
	412,198	*	American Axle & Manufacturing Holdings, Inc						7,098
	535,424		Apollo Tyres Ltd						1,773
	52,264	e	ARB Corp Ltd						730
	62,865		Asahi India Glass Ltd						177
	3,620	e	Autoliv, Inc						387
	11,614		Autoneum Holding AG.						3,268
	135,325		Bajaj Holdings and Investment Ltd						5,756
	34,619		Balkrishna Industries Ltd						527
	310,197		Bayerische Motoren Werke AG.						26,117
	8,638		Bayerische Motoren Werke AG. (Preference)						638

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	117,198		Bharat Forge Ltd	$	1,607
	519,494		BorgWarner, Inc		18,276
	12,082		Bosch Ltd		4,140
	114,706		Brembo S.p.A.		6,845
	875,242		Bridgestone Corp		32,247
	3,628,135	e	Brilliance China Automotive Holdings Ltd		4,094
	768,763	*,e	Byd Co Ltd		5,114
	325,000		Calsonic Kansei Corp		3,011
	22,000		Cayman Engley Industrial Co Ltd		143
	73,734		Ceat Ltd		1,473
	1,339,000	e	Chaowei Power Holdings Ltd		1,110
	5,101,251		Cheng Shin Rubber Industry Co Ltd		10,761
	288,000	*	China First Capital Group Ltd		297
	1,502,000		China Motor Corp		1,141
	4,804,357		Chongqing Changan Automobile Co Ltd		7,845
	163,230		Cie Automotive S.A.		3,214
	310,139		Compagnie Plastic-Omnium S.A.		10,292
	172,028		Continental AG.		36,247
	173,035		Cooper Tire & Rubber Co		6,579
	91,655	*	Cooper-Standard Holding, Inc		9,056
	35,341		Cub Elecparts, Inc		389
	20,201		Dae Won Kang Up Co Ltd		101
	84,800		Daido Metal Co Ltd		930
	119,600		Daikyonishikawa Corp		1,477
	945,451		Daimler AG. (Registered)		66,680
	425,340		Dana Holding Corp		6,631
	1,564,214		Delphi Automotive plc		111,560
	445,801		Denso Corp		17,789
	94,000		Depo Auto Parts Ind Co Ltd		292
	116,823	*	Dometic Group AB		937
	17,958		Dong Ah Tire & Rubber Co Ltd		407
	10,155,787	e	Dongfeng Motor Group Co Ltd		10,242
	62,022	*	Dorman Products, Inc		3,963
	2,125,500		Drb-Hicom BHD		746
	127,613		Drew Industries, Inc		12,509
	19,400		Eagle Industry Co Ltd		237
	9,174		EDAG Engineering Group AG.		148
	10,103		EGE Endustri VE Ticaret AS.		713
	23,498	e	ElringKlinger AG.		417
	113,082		Exedy Corp		2,875
	315,460		Exide Industries Ltd		869
	1,561,975		Faurecia		61,296
	35,900		FCC Co Ltd		772
	392,810		Federal Corp		171
	73,885	*	Federal Mogul Corp (Class A)		710
	110,019		Ferrari NV		5,717
	405,004	e	Fiat DaimlerChrysler Automobiles NV		2,574
	9,522,427		Ford Motor Co		114,936
	59,513		Ford Otomotiv Sanayi AS		627
	52,352	*	Fox Factory Holding Corp		1,203
	609,425		Fuji Heavy Industries Ltd		22,865
	125,097		Futaba Industrial Co Ltd		623

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,636,202	e	Geely Automobile Holdings Ltd	$	5,075
	40,684,487	*,m	General Motors Co		0
	24,057,000	*,m	General Motors Co		0
	35,983,677	*,m	General Motors Co		0
	7,950,000	*,m	General Motors Co		0
	85,268,000	*,e,m	General Motors Co		0
	4,230,271	*,m	General Motors Co		0
	18,507,434	*,m	General Motors Co		0
	3,438,989		General Motors Co		109,257
	722,689	*,e,m	General Motors Co		0
	26,439,191	*,m	General Motors Co		0
	6,062,000	*,m	General Motors Co		0
	1,011,511		Gentex Corp		17,762
	128,677	*	Gentherm, Inc		4,043
	1,650,796		GKN plc		6,850
	30,201		Global & Yuasa Battery Co Ltd		1,019
	146,000		Global PMX Co Ltd		704
	85,705		Goodyear Lastikleri Turk AS.		101
	1,184,192		Goodyear Tire & Rubber Co		38,249
	84,978		Grammer AG.		5,155
	6,691,189	e	Great Wall Motor Co Ltd		6,580
	70,700		G-Tekt Corp		1,309
	6,560,861	e	Guangzhou Automobile Group Co Ltd		8,485
	8,154		Halla Holdings Corp		502
	80,629		Hanil E-Hwa Co Ltd		1,129
	64,196		Hanil E-Wha Co Ltd		688
	73,739		Hankook Tire Co Ltd		3,987
	209,506		Hanon Systems		2,370
	418,529	e	Harley-Davidson, Inc		22,010
	74,684		Hero Honda Motors Ltd		3,837
	47,000		Hiroca Holdings Ltd		182
	1,557,691		Honda Motor Co Ltd		44,955
	43,582	*	Horizon Global Corp		869
	1,014,647		Hota Industrial Manufacturing Co Ltd		4,960
	378,099		Hu Lane Associate, Inc		1,898
	243,900	*	Hunan Tyen Machinery Co Ltd		132
	65,375		Hwa Shin Co Ltd		478
	20,992,000	*,e	Hybrid Kinetic Group Ltd		614
	126,379		Hyundai Mobis		31,716
	439,296		Hyundai Motor Co		54,289
	54,536		Hyundai Motor Co Ltd (2nd Preference)		5,242
	33,097		Hyundai Motor Co Ltd (Preference)		3,027
	16,968		Hyundai Wia Corp		1,342
	36,000		Iron Force Industrial Co Ltd		271
	411,695		Isuzu Motors Ltd		4,846
	1,034,835		Johnson Controls International plc		48,151
	76,200		Kasai Kogyo Co Ltd		796
	719,896		Kayaba Industry Co Ltd		3,220
	108,500		Keihin Corp		1,720
	1,336,399		Kenda Rubber Industrial Co Ltd		2,134
	287,633		Kia Motors Corp		11,051

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,000		Kinugawa Rubber Industrial Co Ltd	$	46
	19,136		Koito Manufacturing Co Ltd		931
	353,269	*	Kongsberg Automotive ASA		289
	8,160		Korea Autoglass Corp		142
	110,751	*	Kumho Tire Co, Inc		1,140
	151,000	*	Launch Tech Co Ltd		177
	522,634		Lear Corp		63,354
	26,357	e	Leoni AG.		960
	117,524		Linamar Corp		4,907
	39,000		Macauto Industrial Co Ltd		259
	621,268	*	Magna International, Inc		26,670
	570,904		Mahindra & Mahindra Ltd		12,075
	73,704	*	Mahindra CIE Automotive Ltd		213
	149,900		Mahle-Metal Leve S.A. Industria e Comercio		1,069
	41,974		Mando Corp		9,456
	119,990		Martinrea International, Inc		745
	171,303		Maruti Suzuki India Ltd		14,120
	1,413,079		Mazda Motor Corp		21,679
	341,964	e	Metair Investments Ltd		498
	42,326		Metaldyne Performance Group, Inc		671
	36,475		MGI Coutier		966
	711,482		Michelin (C.G.D.E.) (Class B)		78,786
	628,000		Minth Group Ltd		2,215
	26,000		Mitsuba Corp		343
	712,117		Mitsubishi Motors Corp		3,327
	109,881	*	Modine Manufacturing Co		1,303
	354,808		Motherson Sumi Systems Ltd		1,699
	10,426		Motonic Corp		86
	42,470	*	Motorcar Parts of America, Inc		1,222
	978		MRF Ltd		748
	27,000	e	Musashi Seimitsu Industry Co Ltd		634
	432,949		Nan Kang Rubber Tire Co Ltd		421
	15,449		Nexen Corp		116
	129,672		Nexen Tire Corp		1,748
	2,512,000		Nexteer Automotive Group Ltd		3,284
	102,344		NGK Spark Plug Co Ltd		1,808
	198,909		NHK Spring Co Ltd		1,928
	101,851	e	Nifco, Inc		5,411
	37,000		Nippon Seiki Co Ltd		705
	6,719,160		Nissan Motor Co Ltd		65,907
	142,241	e	Nissan Shatai Co Ltd		1,312
	216,500		Nissin Kogyo Co Ltd		3,297
	98,939		NOK Corp		2,165
	75,871		Nokian Renkaat Oyj		2,766
	367,800	e	Pacific Industrial Co Ltd		4,220
	388,058	*,e	Peugeot S.A.		5,926
	125,547	e	Piaggio & C S.p.A.		235
	13,200		Piolax Inc		823
	40,596		Porsche AG.		2,077
	109,700		Press Kogyo Co Ltd		468
	22,398,207		PT Astra International Tbk		14,212
	35,450		Pyeong Hwa Automotive Co Ltd		389

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	8,576,000	e	Qingling Motors Co Ltd	$	2,622
	49,600	e	Rassini SAB de C.V.		220
	804,390		Renault S.A.		66,176
	7,200		Riken Corp		248
	41,526		S&T Daewoo Co Ltd		1,799
	17,456		S&T Holdings Co Ltd		252
	132,360		SAF-Holland S.A.		1,712
	129,000	e	Sanden Corp		386
	449,920		Sanyang Industry Co Ltd		299
	2,137,228		Schaeffler AG.		33,846
	7,074		Sejong Industrial Co Ltd		75
	66,900		Showa Corp		353
	72,443		SL Corp		1,086
	90,137		Spartan Motors, Inc		864
	1,696,900		Sri Trang Agro-Industry PCL (Foreign)		574
	38,128	*	Ssangyong Motor Co		274
	82,397		Standard Motor Products, Inc		3,935
	211,187		Stanley Electric Co Ltd		5,710
	57,769	*	Stoneridge, Inc		1,063
	12,389		Strattec Security Corp		437
	666,325		Sumitomo Electric Industries Ltd		9,420
	143,873		Sumitomo Rubber Industries, Inc		2,176
	55,018		Sundram Fasteners Ltd		241
	33,112		Sungwoo Hitech Co Ltd		241
	56,849		Superior Industries International, Inc		1,658
	145,898		Suzuki Motor Corp		4,887
	2,143,653	e	T RAD Co Ltd		4,167
	79,400		Tachi-S Co Ltd		1,289
	56,300		Taiho Kogyo Co Ltd		621
	17,200	*,e	Takata Corp		61
	2,495,089		Tata Motors Ltd		19,985
	25,700		Teikoku Piston Ring Co Ltd		723
	183,380	*	Tenneco, Inc		10,686
	341,615	*,e	Tesla Motors, Inc		69,700
	318,103		Thor Industries, Inc		26,943
	4,122,000		Tianneng Power International Ltd		3,534
	133,657		Tofas Turk Otomobil Fabrik		975
	42,563		Tokai Rika Co Ltd		833
	95,000		Tokai Rubber Industries, Inc		894
	560,699		Tong Yang Industry Co Ltd		1,335
	48,900		Topre Corp		1,029
	43,093		Tower International, Inc		1,039
	121,300		Toyo Tire & Rubber Co Ltd		1,706
	57,515		Toyoda Gosei Co Ltd		1,337
	121,300		Toyota Boshoku Corp		2,715
	215,440		Toyota Industries Corp		10,000
	5,482,610		Toyota Motor Corp		318,027
	100,900		TS Tech Co Ltd		2,555
	115,513		Tube Investments Of India		1,025
	60,089		Tung Thih Electronic Co Ltd		847
	45,900		Tupy S.A.		197
	245,324		TVS Motor Co Ltd		1,352

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	424,041		UMW Holdings BHD	$	599
	87,600		Unipres Corp		1,547
	15,103	e	Unique Fabricating, Inc		185
	735,279		Valeo S.A.		42,917
	203,088		Visteon Corp		14,553
	97,659		Volkswagen AG.		14,141
	133,659		Volkswagen AG. (Preference)		17,607
	7,898		WABCO India Ltd		739
	64,538	e	Winnebago Industries, Inc		1,521
	23,878	*,e	Workhorse Group, Inc		173
	440,000	*	Xinchen China Power Holdings Ltd		72
	2,997,000		Xingda International Holdings Ltd		1,240
	6,868,785	e	Xinyi Glass Holdings Co Ltd		6,245
	120,344		Yamaha Motor Co Ltd		2,431
	128,700		Yokohama Rubber Co Ltd		2,060
	152,400		Yorozu Corp		2,239
	681,187		Yulon Motor Co Ltd		601
	80,000		Zhejiang Shibao Co Ltd		112
			TOTAL AUTOMOBILES & COMPONENTS		2,269,908
BANKS - 7.4%
	34,302		1st Source Corp		1,224
	1,515,030	e	77 Bank Ltd		6,202
	239,575		Aareal Bank AG.		7,920
	1,535,767	g	ABN AMRO Group NV (ADR)		31,754
	3,560,639		Abu Dhabi Commercial Bank PJSC		6,244
	18,693		Access National Corp		447
	14,364	e	ACNB Corp		382
	59,991,649		Agricultural Bank of China		25,877
	6,100		Aichi Bank Ltd		297
	2,614,702		Akbank TAS		7,005
	308,000		Akita Bank Ltd		915
	1,263,197		Albaraka Turk Katilim Bankasi AS		509
	1,628,882	*,e	Aldermore Group plc		3,539
	101,611	*	Alior Bank S.A.		1,234
	396,528		Allahabad Bank		459
	25,921	*	Allegiance Bancshares, Inc		700
	1,095,356		Alliance Financial Group BHD		985
	1,625,181	*	Alpha Bank AE		2,720
	315,270	*,m	Amagerbanken AS		0
	20,494		American National Bankshares, Inc		573
	106,565		Ameris Bancorp		3,724
	21,189	e	Ames National Corp		586
	2,185,557	*	Amlak Finance PJSC		778
	3,213,938		AMMB Holdings BHD		3,181
	478,367		Andhra Bank		406
	153,000	e	Aomori Bank Ltd		486
	7,737,952		Aozora Bank Ltd		26,671
	28,533		Arrow Financial Corp		937
	918,900		Ashikaga Holdings Co Ltd		3,292
	219,457		Associated Banc-Corp		4,299
	215,346		Astoria Financial Corp		3,144

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	40,410	*	Atlantic Capital Bancshares, Inc	$	605
	3,443,024		Australia & New Zealand Banking Group Ltd		73,342
	387,721		Awa Bank Ltd		2,389
	1,795,615		Axis Bank Ltd		14,645
	293,557		Banc of California, Inc		5,126
	528,642	*,e	Banca Carige S.p.A		172
	26,165,571		Banca Intesa S.p.A.		58,090
	5,916,581	e	Banca Intesa S.p.A. RSP		12,413
	2,231,800	*,e	Banca Monte dei Paschi di Siena S.p.A		467
	1,321,809		Banca Popolare dell’Emilia Romagna Scrl		4,926
	11,469,193		Banca Popolare di Milano		4,604
	372,949		Banca Popolare di Sondrio SCARL		1,043
	18,036		Bancfirst Corp		1,308
	166,194	e	Banche Popolari Unite Scpa		383
	290,779		Banco ABC Brasil S.A.		1,207
	14,370	*	Banco ABC Brasil S.A. (ADR)		59
	2,839,186		Banco Bilbao Vizcaya Argentaria S.A.		17,179
	321,613	*,e	Banco BPI S.A.		408
	1,356,889	*	Banco Bradesco S.A.		11,828
	4,411,666	*	Banco Bradesco S.A. (Preference)		40,249
	36,727,681	*,e	Banco Comercial Portugues S.A.		635
	23,105,677		Banco de Chile		2,582
	69,308		Banco de Credito e Inversiones		3,138
	2,336,330		Banco de Oro Universal Bank		5,299
	1,142,475	e	Banco de Sabadell S.A.		1,464
	1,534,332		Banco do Brasil S.A.		10,757
	768,100		Banco do Estado do Rio Grande do Sul		2,470
	16,063,377	*,m	Banco Espirito Santo S.A.		180
	58,200	*,m	Banco Industrial e Comercial S.A.		149
	5,994,111		Banco Itau Holding Financeira S.A.		65,468
	156,811		Banco Latinoamericano de Exportaciones S.A. (Class E)		4,419
	1,255,391	e	Banco Popolare SC		2,960
	677,959		Banco Popular Espanol S.A.		839
	1,014,448		Banco Santander Brasil S.A.		6,863
	64,986,084		Banco Santander Chile S.A.		3,361
	11,016,936		Banco Santander S.A.		48,875
	702,032		BanColombia S.A. (Preference)		6,803
	383,663		Bancorpsouth, Inc		8,901
	1,143,100		Bangkok Bank PCL (ADR)		5,381
	775,100		Bangkok Bank PCL (Foreign)		3,650
	56,966		Bank Handlowy w Warszawie S.A.		1,133
	1,524,568		Bank Hapoalim Ltd		8,657
	1,741,228	*	Bank Leumi Le-Israel		6,627
	486,495	*	Bank Millennium S.A.		714
	138,015		Bank Mutual Corp		1,060
	42,304,178		Bank of America Corp		662,060
	836,319	*	Bank of Attica		43
	500,000		Bank of Baroda		1,261
	133,262,170	e	Bank of China Ltd		61,541
	1,094,000	e	Bank of Chongqing Co Ltd		902
	23,588,946	e	Bank of Communications Co Ltd		18,143
	1,162,130	e	Bank of East Asia Ltd		4,743

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	106,373		Bank of Georgia Holdings plc	$	4,004
	59,277	e	Bank of Hawaii Corp		4,305
	115,406,450	*	Bank of Ireland		24,128
	30,900	e	Bank of Iwate Ltd		1,200
	316,466		Bank of Kaohsiung		91
	438,927	e	Bank of Kyoto Ltd		3,213
	19,338		Bank of Marin Bancorp		962
	852,906	*	Bank of Montreal		55,890
	11,500	e	Bank of Nagoya Ltd		401
	1,598,028		Bank of Nova Scotia		84,679
	28,800		Bank of Okinawa Ltd		859
	254,293		Bank of Queensland Ltd		2,227
	262,541		Bank of Saga Ltd		646
	220,836		Bank of the Ozarks, Inc		8,480
	1,055,499		Bank of the Philippine Islands		2,285
	179,600		Bank of the Ryukyus Ltd		2,131
	157,291		Bank Pekao S.A.		5,093
	13,741,371		Bank Rakyat Indonesia		12,894
	38,452		Bank Zachodni WBK S.A.		3,130
	59,271		BankFinancial Corp		753
	1,684,465		Bankia S.A.		1,382
	94,769		Bankinter S.A.		674
	188,860		BankUnited		5,704
	13,601	e	Bankwell Financial Group, Inc		322
	68,643		Banner Corp		3,002
	3,680		Banque Cantonale Vaudoise		2,416
	607,700	e	Banregio Grupo Financiero SAB de C.V.		3,480
	14,442		Bar Harbor Bankshares		530
	467,969		Barclays Africa Group Ltd		5,167
	24,724,358		Barclays plc		53,603
	1,909,809		BB&T Corp		72,038
	42,523	e	Bear State Financial, Inc		391
	566,327		Bendigo Bank Ltd		4,697
	363,734		Beneficial Bancorp, Inc		5,351
	107,486		Berkshire Hills Bancorp, Inc		2,978
	67,967	e	Blue Hills Bancorp, Inc		1,021
	109,235		BNC Bancorp		2,657
	1,231,488		BNP Paribas		63,340
	4,420,372	e	BOC Hong Kong Holdings Ltd		15,040
	157,530	*,e	BofI Holding, Inc		3,529
	42,867	e	BOK Financial Corp		2,957
	224,741		Boston Private Financial Holdings, Inc		2,883
	14,487		BRE Bank S.A.		1,296
	41,562		Bridge Bancorp, Inc		1,188
	311,893		Brookline Bancorp, Inc		3,802
	57,098		Bryn Mawr Bank Corp		1,827
	277,971		BS Financial Group, Inc		2,176
	19,213	*	BSB Bancorp, Inc		450
	3,962,612		Bumiputra-Commerce Holdings BHD		4,522
	7,745	e	C&F Financial Corp		334
	2,635,509		CaixaBank S.A.		6,660
	4,905	e	California First National Bancorp		68

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	23,507		Camden National Corp	$	1,122
	6,491		Can Fin Homes Ltd		159
	687,704	e	Canadian Imperial Bank of Commerce/Canada		53,325
	67,257	e	Canadian Western Bank		1,294
	100,157		Canara Bank		465
	60,519	e	Capital Bank Financial Corp		1,943
	34,958		Capital City Bank Group, Inc		516
	83,997	e	Capitec Bank Holdings Ltd		3,936
	297,300		Capitol Federal Financial		4,183
	123,703		Cardinal Financial Corp		3,227
	23,469	e	Carolina Financial Corp		524
	121,071	*	Cascade Bancorp		734
	308,904		Cathay General Bancorp		9,508
	224,346		Centerstate Banks of Florida, Inc		3,978
	189,013		Central Pacific Financial Corp		4,761
	20,904		Central Valley Community Bancorp		332
	7,686		Century Bancorp, Inc		348
	2,970,653		Chang Hwa Commercial Bank		1,525
	40,717		Charter Financial Corp		524
	218,146		Chemical Financial Corp		9,627
	7,475	e	Chemung Financial Corp		217
	520,966		Chiba Bank Ltd		2,959
	27,300		Chiba Kogyo Bank Ltd		109
	9,902,481		China Citic Bank		6,624
	151,182,748		China Construction Bank		113,544
	11,767,861		China Development Financial Holding Corp		3,015
	9,622,685		China Everbright Bank Co Ltd		4,507
	6,430,396		China Merchants Bank Co Ltd		16,353
	7,178,310	e	China Minsheng Banking Corp Ltd		8,339
	18,549,242		Chinatrust Financial Holding Co		10,812
	320,000		Chong Hing Bank Ltd		646
	16,665,584		Chongqing Rural Commercial Bank		10,335
	36,505		Chugoku Bank Ltd		445
	7,900	*	Chukyo Bank Ltd		179
	717,063		CIT Group, Inc		26,029
	10,796,431		Citigroup, Inc		509,916
	29,448		Citizens & Northern Corp		647
	4,051,652		Citizens Financial Group, Inc		100,116
	33,088		City Holding Co		1,664
	51,836		City Union Bank Ltd		103
	56,804		Clifton Bancorp, Inc		869
	43,205		CNB Financial Corp		914
	101,414		CoBiz, Inc		1,350
	18,649	e	Codorus Valley Bancorp, Inc		408
	14,966	*,e	Collector AB		208
	170,789		Columbia Banking System, Inc		5,588
	23,965		Comdirect Bank AG.		245
	1,686,775		Comerica, Inc		79,818
	128,132		Commerce Bancshares, Inc		6,312
	165,587		Commercial Bank of Qatar QSC		1,752
	2,448,504		Commercial International Bank		13,266
	254,653		Commerzbank AG.		1,645

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,662,112	e	Commonwealth Bank of Australia	$	92,685
	100,248		Community Bank System, Inc		4,823
	34,977		Community Trust Bancorp, Inc		1,298
	36,631	*,e	CommunityOne Bancorp		507
	2,391,200	*	Concordia Financial Group Ltd		10,433
	112,804		ConnectOne Bancorp, Inc		2,037
	860,038,464		Corpbanca S.A.		7,579
	11,205	e	County Bancorp, Inc		224
	113,741		Credicorp Ltd (NY)		17,314
	889,653		Credit Agricole S.A.		8,775
	68,018		Credito Emiliano S.p.A.		369
	64,749	*	CU Bancorp		1,477
	108,859	e	Cullen/Frost Bankers, Inc		7,831
	54,661	*	Customers Bancorp, Inc		1,375
	240,129	e	CVB Financial Corp		4,229
	999,447	*,e	CYBG plc		3,440
	5,646,074	*,m	Cyprus Popular Bank Public Co Ltd		63
	715,227		Dah Sing Banking Group Ltd		1,289
	409,508		Dah Sing Financial Holdings Ltd		2,698
	222,000		Daishi Bank Ltd		853
	1,354,382		Danske Bank AS		39,624
	4,051,425		DBS Group Holdings Ltd		45,971
	88,477	g	Deutsche Pfandbriefbank AG.		828
	1,633,051	*	Development Credit Bank Ltd		3,081
	380,273		Dewan Housing Finance Corp Ltd		1,625
	178,294		DGB Financial Group Co Ltd		1,468
	100,609		Dime Community Bancshares		1,686
	823,589		DNB NOR Holding ASA		10,828
	121,582		Doha Bank QSC		1,242
	3,712,475		Dubai Islamic Bank PJSC		5,469
	7,351,400		E.Sun Financial Holding Co Ltd		4,201
	69,860	*	Eagle Bancorp, Inc		3,446
	478,567		East West Bancorp, Inc		17,568
	280,000		Eighteenth Bank Ltd		831
	19,935	e	Enterprise Bancorp, Inc		558
	56,130		Enterprise Financial Services Corp		1,754
	12,207	*,e	Equity Bancshares, Inc		317
	1,463,734		Erste Bank der Oesterreichischen Sparkassen AG.		43,344
	16,285	e	ESSA Bancorp, Inc		225
	333,258	*	Essent Group Ltd		8,868
	2,223,526	*	Eurobank Ergasias S.A.		1,283
	239,272		EverBank Financial Corp		4,632
	2,698,221		Far Eastern International Bank		772
	18,221		Farmers Capital Bank Corp		540
	57,916		Farmers National Banc Corp		624
	86,823	*	FCB Financial Holdings, Inc		3,337
	19,305		Federal Agricultural Mortgage Corp (Class C)		763
	2,764,606		Federal Bank Ltd		2,995
	89,708		Fidelity Southern Corp		1,650
	1,089,650		Fifth Third Bancorp		22,294
	35,158		Financial Institutions, Inc		953
	1,345,970		FinecoBank Banca Fineco S.p.A		7,803

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	43,916	e	First Bancorp (NC)	$	869
	781,888	*	First Bancorp (Puerto Rico)		4,066
	25,487		First Bancorp, Inc		611
	77,960		First Busey Corp		1,762
	27,355		First Business Financial Services, Inc		643
	17,716		First Citizens Bancshares, Inc (Class A)		5,207
	205,761		First Commonwealth Financial Corp		2,076
	37,194		First Community Bancshares, Inc		922
	32,252	*,e	First Community Financial Partners, Inc		307
	53,668		First Connecticut Bancorp		955
	20,797		First Defiance Financial Corp		928
	161,996		First Financial Bancorp		3,538
	149,415	e	First Financial Bankshares, Inc		5,445
	31,837		First Financial Corp		1,295
	19,814,230		First Financial Holding Co Ltd		10,552
	23,061		First Financial Northwest, Inc		327
	31,865	*	First Foundation, Inc		786
	955,719		First Gulf Bank PJSC		3,065
	6,675	*	First Hawaiian, Inc		179
	299,927		First Horizon National Corp		4,568
	98,656		First International Bank Of Israel Ltd		1,261
	12,936	e	First Internet Bancorp		299
	83,022		First Interstate Bancsystem, Inc		2,616
	135,522		First Merchants Corp		3,625
	13,480		First Mid-Illinois Bancshares, Inc		367
	228,808		First Midwest Bancorp, Inc		4,430
	39,923	e	First National Financial Corp		973
	36,197	*	First NBC Bank Holding Co		342
	27,741	*,e	First Northwest Bancorp		374
	40,693		First of Long Island Corp		1,349
	212,176		First Republic Bank		16,361
	79,404	*	Flagstar Bancorp, Inc		2,203
	68,377		Flushing Financial Corp		1,622
	825,713		FNB Corp		10,156
	66,996	*	Franklin Financial Network, Inc		2,506
	646,412		Fukuoka Financial Group, Inc		2,687
	402,693		Fulton Financial Corp		5,847
	156,427	e	Genworth MI Canada, Inc		4,025
	654,189		Genworth Mortgage Insurance Australia Ltd		1,352
	33,455		German American Bancorp, Inc		1,302
	1,279,817	*	Get Bank S.A.		154
	653,827	*	Getin Holding S.A.		169
	239,430		Glacier Bancorp, Inc		6,829
	28,748	e	Great Southern Bancorp, Inc		1,170
	203,114		Great Western Bancorp, Inc		6,768
	48,004	*,e	Green Bancorp, Inc		525
	6,954		Greene County Bancorp, Inc		116
	121,552		Gruh Finance Ltd		599
	3,092,520		Grupo Aval Acciones y Valores		1,351
	3,597,468		Grupo Financiero Banorte S.A. de C.V.		18,865
	4,434,065	e	Grupo Financiero Inbursa S.A.		6,998
	80,900	e	Grupo Financiero Interacciones S.A. de C.V.		384

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,020,274		Grupo Financiero Santander Mexico SAB de C.V.	$	3,547
	278,749	*,e	Grupo Supervielle S.A. (ADR)		4,128
	59,827		Guaranty Bancorp		1,068
	1,151,883		Gunma Bank Ltd		5,233
	118,816		Hachijuni Bank Ltd		619
	336,456		Hana Financial Group, Inc		8,566
	180,215		Hancock Holding Co		5,844
	848,488		Hang Seng Bank Ltd		15,231
	165,582		Hanmi Financial Corp		4,361
	9,145	*	HarborOne Bancorp, Inc		144
	246,667		HDFC Bank Ltd		4,723
	105,371		Heartland Financial USA, Inc		3,801
	65,732		Heritage Commerce Corp		719
	121,290		Heritage Financial Corp		2,177
	57,351		Heritage Oaks Bancorp		470
	578,983	*	Hilltop Holdings, Inc		13,004
	3,162		Hingham Institution for Savings		438
	92,647		Hiroshima Bank Ltd		384
	564,000		Hokkoku Bank Ltd		1,705
	31,700	e	Hokuetsu Bank Ltd		671
	99,300		Hokuhoku Financial Group, Inc		1,336
	13,260	e	Home Bancorp, Inc		371
	280,745		Home Bancshares, Inc		5,842
	205,395	e	Home Capital Group, Inc		4,227
	42,425	*	HomeStreet, Inc		1,063
	65,094	*	HomeTrust Bancshares, Inc		1,204
	576,916		Hong Leong Bank BHD		1,834
	96,720		Hong Leong Credit BHD		361
	423,854		Hope Bancorp, Inc		7,362
	35,556		Horizon Bancorp		1,045
	2,705,353		Housing Development Finance Corp		56,745
	14,851,377		HSBC Holdings plc		111,634
	140,000		HSBC Holdings plc (Hong Kong)		1,048
	5,536,024		Hua Nan Financial Holdings Co Ltd		2,841
	1,764,886		Huntington Bancshares, Inc		17,402
	200,692		Hyakugo Bank Ltd		727
	195,000		Hyakujushi Bank Ltd		595
	166,607		IBERIABANK Corp		11,183
	1,100,843		ICICI Bank Ltd		4,158
	657,332		ICICI Bank Ltd (ADR)		4,910
	188,892		IDFC Bank Ltd		227
	17,026	*,e	Impac Mortgage Holdings, Inc		225
	66,664	e	Independent Bank Corp (MA)		3,606
	68,035		Independent Bank Corp (MI)		1,145
	59,487		Independent Bank Group, Inc		2,628
	152,418,849		Industrial & Commercial Bank of China		96,736
	255,692		Industrial Bank of Korea		2,788
	16,158,837		ING Groep NV		199,491
	130,329		International Bancshares Corp		3,881
	2,349,487		Investors Bancorp, Inc		28,217
	541,290	*,m	Irish Bank Resolution Corp Ltd		0
	860,590	*	Israel Discount Bank Ltd		1,584

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	49,245		Iyo Bank Ltd	$	298
	346,817		Jammu & Kashmir Bank Ltd		405
	1,153,600	e	Japan Post Bank Co Ltd		13,708
	75,458		JB Financial Group Co Ltd		408
	248,000		Jimoto Holdings Inc		352
	561,225	m	Joyo Bank Ltd		2,352
	11,399,724		JPMorgan Chase & Co		759,108
	267,555		Juroku Bank Ltd		764
	58,605		Jyske Bank		2,740
	59,800		Kansai Urban Banking Corp		611
	56,500		Kanto Tsukuba Bank Ltd		162
	317,852		Karnataka Bank Ltd		703
	81,430	*	Karur Vysya Bank Ltd		575
	2,159,597		Kasikornbank PCL (Foreign)		11,721
	596,931		KB Financial Group, Inc		20,531
	271,248		KBC Groep NV		15,834
	446,627		Kearny Financial Corp		6,079
	795,000		Keiyo Bank Ltd		3,377
	2,185,388		Keycorp		26,596
	1,458,632		Kiatnakin Bank PCL (Foreign)		2,236
	2,439,000		King’s Town Bank		2,064
	95,300		Kiyo Bank Ltd		1,495
	23,333		KJB Financial Group Co Ltd		200
	165,704		Komercni Banka AS		5,746
	4,343,324		Krung Thai Bank PCL (Foreign)		2,214
	254,500	e	Kyushu Financial Group, Inc		1,734
	16,509	e	Lake Sunapee Bank Group		298
	136,361		Lakeland Bancorp, Inc		1,915
	53,338		Lakeland Financial Corp		1,889
	28,525	e	Laurentian Bank of Canada		1,066
	19,826		LCNB Corp		361
	315,419		LegacyTexas Financial Group, Inc		9,977
	27,106	*,e	LendingTree, Inc		2,627
	3,279,028		LH Financial Group PCL		159
	305,814	*,e	Liberbank S.A.		257
	1,162,998		LIC Housing Finance Ltd		10,137
	45,904	e	Live Oak Bancshares, Inc		662
	40,436,783		Lloyds TSB Group plc		28,569
	169,906		M&T Bank Corp		19,726
	61,017	e	Macatawa Bank Corp		488
	69,516		MainSource Financial Group, Inc		1,734
	2,918,469		Malayan Banking BHD		5,297
	984,302		Malaysia Building Society		223
	391,888		Masraf Al Rayan		3,818
	191,027		MB Financial, Inc		7,267
	45,304		MBT Financial Corp		410
	5,994,266		Mediobanca S.p.A.		39,013
	12,806,734		Mega Financial Holding Co Ltd		9,034
	51,036		Mercantile Bank Corp		1,370
	15,931		Merchants Bancshares, Inc		516
	132,963		Meridian Bancorp, Inc		2,070

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	40,417		Meta Financial Group, Inc	$	2,450
	3,504,937		Metropolitan Bank & Trust		6,176
	1,206,679	*	MGIC Investment Corp		9,653
	12,041	e	Middleburg Financial Corp		341
	21,788		Midland States Bancorp, Inc		552
	9,900	e	Midsouth Bancorp, Inc		103
	19,438		MidWestOne Financial Group, Inc		590
	19,300		Mie Bank Ltd		381
	46,700		Minato Bank Ltd		747
	19,640,859		Mitsubishi UFJ Financial Group, Inc		99,502
	424,646		Mitsui Trust Holdings, Inc		13,874
	341,000		Miyazaki Bank Ltd		906
	70,207		Mizrahi Tefahot Bank Ltd		893
	25,574,063		Mizuho Financial Group, Inc		43,104
	7,333,823	*,g	Moneta Money Bank AS.		23,355
	23,568		Musashino Bank Ltd		596
	12,086	e	MutualFirst Financial, Inc		335
	24,893		Nanto Bank Ltd		881
	2,229,918		National Australia Bank Ltd		47,934
	133,345		National Bank Holdings Corp		3,116
	726,939		National Bank of Abu Dhabi PJSC		1,814
	661,623	e	National Bank of Canada		23,460
	6,524,477	*	National Bank of Greece S.A.		1,364
	16,291	e	National Bankshares, Inc		599
	19,575	*,e	National Commerce Corp		530
	75,982	*,e	Nationstar Mortgage Holdings, Inc		1,125
	535,588		Natixis		2,499
	99,240		NBT Bancorp, Inc		3,262
	381,651		Nedbank Group Ltd		6,208
	1,028,631		New York Community Bancorp, Inc		14,637
	17,303	*,e	Nicolet Bankshares, Inc		664
	695,300	m	Nishi-Nippon City Bank Ltd		1,488
	429,668	*	NMI Holdings, Inc		3,274
	1,536,542	g	Nordax Group AB		8,615
	2,107,149		Nordea Bank AB		20,925
	1,002,900		North Pacific Bank Ltd		3,557
	134,662		Northfield Bancorp, Inc		2,168
	16,354		Northrim BanCorp, Inc		421
	218,801		Northwest Bancshares, Inc		3,437
	53,918		OceanFirst Financial Corp		1,038
	111,370	*,e	Ocwen Financial Corp		409
	137,331		OFG Bancorp		1,388
	380,000		Ogaki Kyoritsu Bank Ltd		1,267
	117,000		Oita Bank Ltd		426
	21,312	e	Old Line Bancshares, Inc		420
	309,742		Old National Bancorp		4,355
	69,228		Old Second Bancorp, Inc		575
	474,667		OneSavings Bank plc		1,561
	189,900		Opus Bank		6,717
	62,360		Oriental Bank of Commerce		118
	114,022		Oritani Financial Corp		1,792
	16,485	e	Orrstown Financial Services, Inc		326

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	569,938		OTP Bank	$	14,973
	2,759,619		Oversea-Chinese Banking Corp		17,587
	66,709		Pacific Continental Corp		1,122
	35,460	*	Pacific Mercantile Bancorp		261
	115,251	*	Pacific Premier Bancorp, Inc		3,050
	249,492		PacWest Bancorp		10,706
	231,747		Paragon Group of Cos plc		940
	30,214	e	Park National Corp		2,901
	244,643		Park Sterling Bank		1,987
	65,810		Peapack Gladstone Financial Corp		1,475
	11,744	e	Penns Woods Bancorp, Inc		522
	33,632	*	PennyMac Financial Services, Inc		572
	73,800		Peoples Bancorp, Inc		1,815
	17,398	e	Peoples Financial Services Corp		709
	486,521	e	People’s United Financial, Inc		7,697
	28,862		People’s Utah Bancorp		587
	99,198	*	Permanent TSB Group Holdings plc		229
	309,481	*	PHH Corp		4,472
	3,000,000		Philippine National Bank		3,607
	4,391,703	e	Piccolo Credito Valtellinese Scarl		1,525
	169,964		Pinnacle Financial Partners, Inc		9,192
	7,695,225	*	Piraeus Bank S.A.		1,171
	2,174,563		PNC Financial Services Group, Inc		195,906
	319,333		Popular, Inc		12,205
	1,015,514		Powszechna Kasa Oszczednosci Bank Polski S.A.		6,937
	79,935		Preferred Bank		2,858
	19,743	e	Premier Financial Bancorp, Inc		338
	254,025		PrivateBancorp, Inc		11,665
	175,403		Prosperity Bancshares, Inc		9,628
	10,080	*,e	Provident Bancorp, Inc		157
	11,536		Provident Financial Holdings, Inc		226
	188,324		Provident Financial Services, Inc		3,998
	66,937,300		PT Bank Bukopin Tbk		3,133
	12,744,174		PT Bank Central Asia Tbk		15,372
	3,544,557		PT Bank Danamon Indonesia Tbk		1,102
	12,584,800		PT Bank Jabar Banten Tbk		1,556
	10,430,580		PT Bank Mandiri Persero Tbk		9,000
	23,614,419		PT Bank Negara Indonesia		10,074
	44,500,000	*	PT Bank Pan Indonesia Tbk		2,819
	31,354,700		PT Bank Pembangunan Daerah Jawa Timur Tbk		1,360
	13,135,894		PT Bank Tabungan Negara Tbk		1,937
	5,430,784		Public Bank BHD		26,028
	90,454		Qatar Islamic Bank SAQ		2,606
	218,815		Qatar National Bank		9,362
	28,140		QCR Holdings, Inc		893
	818,169		Radian Group, Inc		11,086
	17,387	*	Raiffeisen International Bank Holding AG.		265
	444,470	*	RBL Bank Ltd		1,944
	2,311,020		Regions Financial Corp		22,810
	92,209		Renasant Corp		3,101
	23,218		Republic Bancorp, Inc (Class A)		722
	80,343	*,e	Republic First Bancorp, Inc		330

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,192,494		Resona Holdings, Inc	$	26,043
	595,802		RHB Capital BHD		670
	68,220		Rizal Commercial Banking Corp		51
	5,200	*,m	Roskilde Bank		0
	2,387,637	*	Royal Bank of Canada		147,886
	31,540		Royal Bank of Canada (Toronto)		1,954
	5,887,042	*	Royal Bank of Scotland Group plc		13,629
	81,571		S&T Bancorp, Inc		2,365
	54,363		Sandy Spring Bancorp, Inc		1,662
	386,900		San-In Godo Bank Ltd		2,644
	6,123,682		Sberbank of Russian Federation (ADR)		57,486
	129,390	*	Seacoast Banking Corp of Florida		2,082
	270,350		Security Bank Corp		1,349
	192,191	*	Sekerbank TAS		74
	876,780		Senshu Ikeda Holdings, Inc		3,860
	52,844	e	ServisFirst Bancshares, Inc		2,743
	630,593	e	Seven Bank Ltd		2,020
	274,993	*,g	Shawbrook Group plc		852
	175,000		Shiga Bank Ltd		853
	125,000		Shikoku Bank Ltd		267
	811,881		Shinhan Financial Group Co Ltd		29,735
	2,740,055		Shinsei Bank Ltd		4,155
	282,400		Shizuoka Bank Ltd		2,263
	28,906		Shore Bancshares, Inc		341
	24,640		SI Financial Group, Inc		325
	1,695,417		Siam Commercial Bank PCL (Foreign)		7,276
	39,900		Sierra Bancorp		749
	165,224	*	Signature Bank		19,571
	96,390		Simmons First National Corp (Class A)		4,810
	7,591,190		SinoPac Financial Holdings Co Ltd		2,247
	147,723	*,g	Skandiabanken ASA		1,092
	1,019,009		Skandinaviska Enskilda Banken AB (Class A)		10,243
	1,225,160		Societe Generale		42,383
	2,578,170		South Indian Bank Ltd		848
	148,312		South State Corp		11,129
	13,710	*	Southern First Bancshares, Inc		378
	13,441		Southern Missouri Bancorp, Inc		335
	28,245		Southern National Bancorp of Virginia, Inc		369
	56,248		Southside Bancshares, Inc		1,810
	95,534		Southwest Bancorp, Inc		1,814
	88,964		Spar Nord Bank A/s		860
	240,517	e	Sparebanken Midt-Norge		1,677
	210,258		Sparebanken Nord-Norge		1,089
	3,040		St Galler Kantonalbank		1,190
	2,863,461		Standard Bank Group Ltd		29,423
	1,265,477		Standard Chartered plc		10,298
	79,243		State Bank & Trust Co		1,808
	30,377		State Bank of Bikaner & Jaip		308
	1,805,492		State Bank of India		6,839
	556,949		Sterling Bancorp/DE		9,747
	47,796		Stock Yards Bancorp, Inc		1,575
	46,958		Stonegate Bank		1,585

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	41,029		Suffolk Bancorp	$	1,427
	3,057,412		Sumitomo Mitsui Financial Group, Inc		103,278
	20,963	e	Summit Financial Group, Inc		402
	27,504		Sun Bancorp, Inc		634
	1,136,286		SunTrust Banks, Inc		49,769
	152,290		Suruga Bank Ltd		3,650
	104,138	*	SVB Financial Group		11,511
	349,994		Svenska Handelsbanken AB		4,811
	1,745,428		Swedbank AB (A Shares)		41,012
	185,179		Sydbank AS		5,645
	194,891		Syndicate Bank		215
	201,416		Synovus Financial Corp		6,552
	2,310,940		Taichung Commercial Bank		657
	9,532,609		Taishin Financial Holdings Co Ltd		3,557
	1,415,087		Taiwan Business Bank		361
	10,373,319		Taiwan Cooperative Financial Holding		4,593
	1,297,764		TCF Financial Corp		18,831
	656,872		TCS Group Holding plc (ADR)		4,792
	18,173		Territorial Bancorp, Inc		521
	146,244	*	Texas Capital Bancshares, Inc		8,032
	220,507		TFS Financial Corp		3,927
	2,918,400		Thanachart Capital PCL		3,411
	95,047	*	The Bancorp, Inc		610
	1,012,380		Tisco Bank PCL		1,537
	8,995,387		TMB Bank PCL (Foreign)		552
	105,000		Tochigi Bank Ltd		426
	158,000		Toho Bank Ltd		556
	23,893		Tokyo TY Financial Group, Inc		668
	319,000		Tomony Holdings, Inc		1,486
	33,110		Tompkins Trustco, Inc		2,530
	3,639,990		Toronto-Dominion Bank		161,586
	515,000		Towa Bank Ltd		455
	131,911		TowneBank		3,170
	105,386		Trico Bancshares		2,821
	53,003	*	Tristate Capital Holdings, Inc		856
	48,973	*	Triumph Bancorp, Inc		972
	439,377		Trustco Bank Corp NY		3,115
	156,264		Trustmark Corp		4,307
	3,381,109		Turkiye Garanti Bankasi AS		8,959
	717,983		Turkiye Halk Bankasi AS		2,182
	1,828,369		Turkiye Is Bankasi (Series C)		2,894
	2,114,631		Turkiye Sinai Kalkinma Bankasi AS		937
	749,839		Turkiye Vakiflar Bankasi Tao		1,147
	104,766		UMB Financial Corp		6,228
	737,035		Umpqua Holdings Corp		11,092
	4,042,198	e	UniCredit S.p.A		9,422
	519,881		Union Bank of India		1,075
	1,566,039		Union Bank Of Taiwan		440
	173,856		Union Bankshares Corp		4,654
	9,284	e	Union Bankshares, Inc		316
	153,495	e	United Bankshares, Inc		5,782
	307,442		United Community Banks, Inc		6,462

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	111,851		United Community Financial Corp	$	795
	227,273		United Financial Bancorp, Inc (New)		3,145
	1,107,356		United Overseas Bank Ltd		15,363
	56,711		Univest Corp of Pennsylvania		1,325
	4,576,761		US Bancorp		196,297
	16,219		Valiant Holding		1,492
	576,494		Valley National Bancorp		5,609
	20,200	*,e	Veritex Holdings, Inc		351
	462,817		Vijaya Bank		284
	1,835,757		Virgin Money Holdings UK plc		7,405
	3,754,079		VTB Bank OJSC (GDR)		8,364
	86,471	*	Walker & Dunlop, Inc		2,184
	55,654	*,e	Walter Investment Management Corp		226
	212,052		Washington Federal, Inc		5,658
	50,041		Washington Trust Bancorp, Inc		2,013
	17,932		WashingtonFirst Bankshares, Inc		441
	81,502		Waterstone Financial, Inc		1,385
	274,339		Webster Financial Corp		10,428
	20,309,020	n	Wells Fargo & Co		899,283
	93,350		WesBanco, Inc		3,069
	45,588		West Bancorporation, Inc		894
	58,225	e	Westamerica Bancorporation		2,963
	242,312	*	Western Alliance Bancorp		9,096
	32,883		Westfield Financial, Inc		252
	5,571,678	e	Westpac Banking Corp		126,768
	196,857		Wintrust Financial Corp		10,939
	566,648	*	WMIH Corp		1,326
	1,073,480		Woori Bank		11,158
	64,401		WSFS Financial Corp		2,350
	87,158	*,e	Xenith Bankshares, Inc		201
	130,918		Yadkin Financial Corp		3,442
	107,000	e	Yamagata Bank Ltd		452
	107,492	e	Yamaguchi Financial Group, Inc		1,146
	145,000		Yamanashi Chuo Bank Ltd		626
	6,456,546		Yapi ve Kredi Bankasi		7,893
	1,517,793		Yes Bank Ltd		28,680
	3,046,823		Zions Bancorporation		94,512
			TOTAL BANKS		8,423,430
CAPITAL GOODS - 7.8%
	3,174,832		3M Co		559,501
	175,716		A.O. Smith Corp		17,359
	81,429		Aalberts Industries NV		2,773
	93,154		Aaon, Inc		2,685
	152,542		AAR Corp		4,778
	3,162,890		ABB Ltd		71,285
	225,821	e	Abengoa S.A. (B Shares)		55
	3,424,447		Aboitiz Equity Ventures, Inc		5,363
	372,000		AcBel Polytech, Inc		285
	101,079	*	Accuride Corp		259
	546,403		ACS Actividades Construccion y Servicios S.A.		16,517
	139,393	e	Actuant Corp (Class A)		3,239

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	94,408		Acuity Brands, Inc	$	24,980
	643,625		Adani Enterprises Ltd		638
	70,157		Aditya Birla Nuvo Ltd		1,439
	478,200		Advan Co Ltd		4,354
	78,904	e	Advanced Drainage Systems, Inc		1,898
	301,586	*	Aecom Technology Corp		8,966
	168,422		Aecon Group, Inc		2,326
	160,676	*	Aegion Corp		3,064
	470,629	*	AerCap Holdings NV		18,114
	165,344	*	Aerojet Rocketdyne Holdings, Inc		2,907
	8,450	*	AeroSpace Technology of Korea, Inc		140
	47,449	*	Aerovironment, Inc		1,158
	32,135	*,e	AFG Arbonia-Forster Hldg		501
	12,672	e	AG Growth International Inc		429
	975,156		AGCO Corp		48,095
	46,794		AIA Engineering Ltd		908
	41,499		Aica Kogyo Co Ltd		1,104
	86,400		Aichi Corp		633
	69,800		Aida Engineering Ltd		559
	245,084		Air Lease Corp		7,004
	113,031		Aircastle Ltd		2,245
	480,740		Airtac International Group		4,295
	27,939		Alamo Group, Inc		1,841
	67,663		Alarko Holding AS		80
	144,097		Albany International Corp (Class A)		6,107
	103,159	e	Alfa Laval AB		1,617
	5,601,014		Alfa S.A. de C.V. (Class A)		8,741
	24,562	e,g	Alimak Group AB		253
	246,241		Allegion plc		16,968
	14,164,565		Alliance Global Group, Inc		4,657
	24,711		Allied Motion Technologies, Inc		467
	552,847		Allison Transmission Holdings, Inc		15,856
	31,744		Alstom Projects India Ltd		263
	71,509	*	Alstom RGPT		1,892
	97,738		Alstom T&D India Ltd		493
	57,780		Altra Holdings, Inc		1,674
	305,636		Amada Co Ltd		3,179
	38,456		Amara Raja Batteries Ltd		585
	53,490	*	Ameresco, Inc		281
	19,210	e	American Railcar Industries, Inc		797
	29,668	*,e	American Superconductor Corp		208
	95,530	*	American Woodmark Corp		7,697
	496,683		Ametek, Inc		23,731
	23,118		Andritz AG.		1,258
	23,700	*	Anest Iwata Corp		244
	69,498		Apogee Enterprises, Inc		3,106
	136,761		Applied Industrial Technologies, Inc		6,392
	2,588,598	*	Arabtec Holding Co		1,034
	221,212		Arcadis NV		3,179
	16,667	*,e	Arcam AB		570
	51,527		Argan, Inc		3,050
	52,763	*	Armstrong Flooring, Inc		996

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	115,143	*	Armstrong World Industries, Inc	$	4,758
	42,100	e	Asahi Diamond Industrial Co Ltd		341
	2,533,911		Asahi Glass Co Ltd		16,384
	1,441,647		Ashok Leyland Ltd		1,728
	41,344		Ashoka Buildcon Ltd		106
	2,596,983		Ashtead Group plc		42,680
	919,908		Assa Abloy AB		18,681
	30,327	e	Astaldi S.p.A.		114
	50,044		Astec Industries, Inc		2,996
	28,802		Astral Polytechnik Ltd		190
	65,905	*	Astronics Corp		2,969
	858,016		Asunaro Aoki Construction Co Ltd		5,765
	23,671	*	Atkore International Group, Inc		444
	442,233		Atlas Copco AB (A Shares)		13,313
	173,952		Atlas Copco AB (B Shares)		4,753
	85,720	*	ATS Automation Tooling Systems, Inc		719
	3,291,991	e	Austal Ltd		3,741
	3,220,000	*,e	AVIC International Holding HK Ltd		231
	2,767,019		AviChina Industry & Technology Co		1,877
	69,312		AZZ, Inc		4,524
	67,429		B&B Tools AB		1,506
	117,795	*	Babcock & Wilcox Enterprises, Inc		1,944
	31,652	e	Badger Daylighting Ltd		684
	9,194,657		BAE Systems plc		62,462
	566,053	*	Balfour Beatty plc		2,048
	74,000		Bando Chemical Industries Ltd		736
	398,000		Baoye Group Co Ltd		271
	200,011		Barloworld Ltd		1,211
	243,329		Barnes Group, Inc		9,867
	9,111		Bauer AG.		130
	10,923	e	BayWa AG.		355
	163,049		BE Aerospace, Inc		8,423
	53	*,m	Beacon Power Corp		0	^
	166,981	*	Beacon Roofing Supply, Inc		7,025
	577,299		Beijing Enterprises Holdings Ltd		2,946
	1,223,000	g	Beijing Urban Construction Design & Development Group Co Ltd		770
	9,958		BEML Ltd		131
	2,350,100		Berjaya Corp BHD		191
	1,237,000		BES Engineering Corp		217
	629,852		Bharat Heavy Electricals		1,279
	502,430	e	Bidvest Group Ltd		5,924
	44,032		Biesse S.p.A.		698
	99,549	e	Bird Construction Income Fund		861
	82,156		Bizlink Holdings Inc		430
	2,482,100		BJC Heavy Industries PCL-F		416
	12,914	*,e	Blue Bird Corp		189
	21,573		Blue Star Ltd		178
	128,273	*	BMC Stock Holdings, Inc		2,274
	25,772		Bobst Group AG.		1,439
	7,500	g	BOC Aviation Ltd		39
	156,920		Bodycote plc		1,196

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,439,166		Boeing Co	$	189,596
	1,745,000	e	Boer Power Holdings Ltd		798
	1,360,888	*	Bombardier, Inc		1,867
	69,265		Boskalis Westminster		2,465
	4,696		Bossard Holding AG.		618
	253,754		Bouygues S.A.		8,415
	109,802	e	Brammer plc		171
	24,803		Brenntag AG.		1,355
	98,255		Briggs & Stratton Corp		1,832
	1,112		Brookfield Business Partners LP		29
	5,442		Bucher Industries AG.		1,363
	20,374		Budimex S.A.		1,116
	195,940	*,e	Builders FirstSource, Inc		2,255
	47,000		Bunka Shutter Co Ltd		374
	287,395		Bunzl plc		8,475
	34,803		Burckhardt Compression Holding AG.		9,856
	8,514		Burkhalter Holding AG.		1,152
	280,629		BWX Technologies, Inc		10,768
	35,338		Byucksan Corp		172
	554,667		CAE, Inc		7,876
	303,034		Caesarstone Sdot-Yam Ltd		11,427
	32,349	*	CAI International, Inc		268
	25,828		Carbone Lorraine		524
	33,573		Cargotec Corp (B Shares)		1,541
	1,206,409	e	Carillion plc		3,876
	154,996		Carlisle Cos, Inc		15,898
	1,328,230		Caterpillar, Inc		117,907
	644,500		CB Industrial Product Holding BHD		335
	1,163,327		Central Glass Co Ltd		4,581
	27,562		CENTROTEC Sustainable AG.		478
	2,803		Cera Sanitaryware Ltd		100
	1,795,000	*	CGN Mining Co Ltd		138
	365,225		CH Karnchang PCL		312
	400,000		CH Karnchang PCL (ADR)		342
	152,300		Changchai Co Ltd		98
	70,412	*	Chart Industries, Inc		2,312
	85,815		Cheil Industries, Inc		11,664
	240,364	e	Chemring Group plc		438
	550,300	*,m	Chengde Nanjiang Co Ltd		205
	120,281		Chicago Bridge & Iron Co NV		3,371
	395,249		Chicony Power Technology Co Ltd		542
	164,500	e	China Aircraft Leasing Group Holdings Ltd		213
	2,738,000	*,e	China Chengtong Development Group Ltd		257
	15,781,192		China Communications Construction Co Ltd		16,748
	1,704,000		China Conch Venture Holdings Ltd		3,335
	1,656,000	e	China Energine International Holdings Ltd		132
	287,750		China Fangda Group Co Ltd		272
	3,403,000		China High Speed Transmission Equipment Group Co Ltd		3,460
	930,800	*,e	China Huarong Energy Co Ltd		55
	1,019,000		China Lesso Group Holdings Ltd		696
	10,240,000	*	China Ocean Shipbuilding Industry Group Ltd		311
	8,469,443	e	China Railway Construction Corp		9,705

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,334,127	e	China Railway Group Ltd	$	3,169
	2,713,680	e	China Singyes Solar Technologies Holdings Ltd		1,406
	2,068,685		China State Construction International Holdings Ltd		2,737
	14,015,000	*,e	China Strategic Holdings Ltd		332
	14,615		China Yuchai International Ltd		159
	318,800	e	Chip Eng Seng Corp Ltd		149
	128,000		Chiyoda Corp		1,054
	31,100	*	Chiyoda Integre Co Ltd		633
	17,562,000		Chongqing Machinery & Electric Co Ltd		2,098
	28,900		Chudenko Corp		585
	606,375		Chung Hsin Electric & Machinery Manufacturing Corp		343
	391,082	e	CIMIC Group Ltd		8,661
	446,299		CIR-Compagnie Industriali Riunite S.p.A.		457
	38,545		CIRCOR International, Inc		2,296
	7,031,796		Citic Pacific Ltd		10,112
	2,695,000	*,e	Citic Resources Holdings Ltd		333
	14,987		CJ Corp		2,545
	3,761,316	e	CK Hutchison Holdings Ltd		48,078
	44,900		CKD Corp		544
	110,781		Clarcor, Inc		7,201
	205,896	e	CNH Industrial NV		1,474
	195,266		Coastal Contracts BHD		71
	587,431		Cobham plc		1,278
	607,282	*	Colfax Corp		19,087
	79,178		Columbus McKinnon Corp		1,413
	309,610		Comfort Systems USA, Inc		9,075
	3,242,881		Compagnie de Saint-Gobain		140,319
	6,177	e	Compagnie d’Entreprises CFE		679
	257,700	e	COMSYS Holdings Corp		4,579
	72,248		Concentric AB		973
	19,000,000	e	Concord New Energy Group Ltd		1,001
	73,386	*	Consolidated Infrastructure Group Ltd		138
	1,537		Construcciones y Auxiliar de Ferrocarriles S.A.		618
	258,070	*	Continental Building Products Inc		5,417
	934,450		Continental Engineering Corp		300
	1,825		Conzzeta AG.		1,259
	1,338,000	e	Cosco Corp Singapore Ltd		261
	20,485		Cosel Co Ltd		248
	73,638		Costain Group plc		343
	117,936		Cramo Oyj (Series B)		3,037
	122,671		Crane Co		7,729
	1,006,500		CRCC High-Tech Equipment Corp Ltd		472
	830,762		Crompton Greaves Ltd		937
	4,508,321		CRRC Corp Ltd		4,104
	6,011		CS Wind Corp		135
	901,590		CSBC Corp Taiwan		390
	33,094	*	CSW Industrials, Inc		1,072
	1,959,000		CTCI Corp		2,875
	58,486		Cubic Corp		2,738
	194,033		Cummins, Inc		24,865
	178,871		Curtiss-Wright Corp		16,297
	31,210		Daelim Industrial Co		2,363

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,669		Daetwyler Holding AG.	$	961
	139,465	*	Daewoo Engineering & Construction Co Ltd		812
	46,778		Daewoo International Corp		1,051
	75,000	m	Daewoo Shipbuilding & Marine Engineering Co Ltd		153
	76,100		Daifuku Co Ltd		1,397
	82,641		Daihen Corp		441
	81,000	*	Daiho Corp		449
	105,000		Daiichi Jitsugyo Co Ltd		574
	198,775		Daikin Industries Ltd		18,549
	24,100		Daiwa Industries Ltd		218
	138,000		Dalian Refrigeration Co Ltd		110
	1,390,365		Danaher Corp		108,991
	24,863		Danieli & Co S.p.A.		480
	35,247		Danieli & Co S.p.A. (RSP)		472
	17,863		Dawonsys Co Ltd		271
	77,170		DCC plc		7,011
	675,050	e	Deere & Co		57,616
	7,800		Denyo Co Ltd		81
	257,229		Deutz AG.		1,299
	20,547	*,e	Dialight plc		186
	4,275,851		Dialog Group BHD		1,511
	317,355	*	DigitalGlobe, Inc		8,727
	204,006		Diploma plc		2,324
	68,133	*	DIRTT Environmental Solutions		259
	7,581,280		DMCI Holdings, Inc		1,891
	36,836		DMG Mori AG.		1,796
	1,034,376	*	Dogan Sirketler Grubu Holdings		276
	111,385		Donaldson Co, Inc		4,158
	141,607		Dong Yang Gang Chul Co Ltd		639
	191,169		Dongkuk Structures & Construction Co Ltd		1,298
	21,971	*	Doosan Engine Co Ltd		85
	278,182		Doosan Heavy Industries and Construction Co Ltd		6,583
	231,560	*	Doosan Infracore Co Ltd		1,673
	51,795		Douglas Dynamics, Inc		1,654
	1,336,779		Dover Corp		98,440
	31,632	*	Ducommun, Inc		722
	102,461	e	Duerr AG.		8,615
	66,382	e	Duro Felguera S.A.		89
	62,748	*	DXP Enterprises, Inc		1,769
	98,622	*,e	Dycom Industries, Inc		8,065
	30,630	e	Dynamic Materials Corp		327
	5,017,800		Dynasty Ceramic PCL		631
	1,268		e Tec E&C Ltd		121
	607,484		Eaton Corp		39,918
	72,566		Ebara Corp		2,148
	21,571		Eicher Motors Ltd		8,062
	55,708		Eiffage S.A.		4,329
	42,101		Elbit Systems Ltd		4,026
	1,888		Electra Israel Ltd		259
	474,300	*,e,g	Elementia SAB de C.V.		501
	38,702	e,g	Eltel AB		387
	197,348		EMCOR Group, Inc		11,766

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	738,216		Emerson Electric Co	$	40,240
	1,757,226		Empresa Brasileira de Aeronautica S.A.		7,570
	61,896		Encore Wire Corp		2,276
	4,062,000	*,e	Enerchina Holdings Ltd		159
	37,400	*,e	Energous Corp		733
	76,521	*,e	Energy Recovery, Inc		1,223
	184,908		EnerSys		12,794
	68,135		Engility Holdings, Inc		2,146
	178,369		Engineers India Ltd		667
	83,554		EnPro Industries, Inc		4,748
	546,000	e	Enric Energy Equipment Holdings Ltd		239
	30,000	e	EPCO Co Ltd		414
	59,646		ESCO Technologies, Inc		2,769
	48,926		Escorts Ltd		277
	68,701	*	Esterline Technologies Corp		5,224
	509,784		European Aeronautic Defence and Space Co		30,919
	3,504,000	e	EVA Precision Industrial Holdings Ltd		423
	55,121		Exco Technologies Ltd		508
	15,640	*	FACC AG.		92
	8,958		Faiveley S.A.		994
	38,441		Fanuc Ltd		6,493
	672,000		Far East Global Group Ltd		90
	6,750,243		Far Eastern Textile Co Ltd		5,064
	669,568		Fastenal Co		27,975
	11,370,000	*,e	FDG Electric Vehicles Ltd		575
	169,201		Federal Signal Corp		2,244
	4,374		Feintool International Holding AG.		522
	171,374		Fenner plc		444
	887,791		Ferrovial S.A.		18,903
	448,541	*,e	Fincantieri S.p.A		215
	37,331	*	Finetex EnE, Inc		235
	294,639	*	Finmeccanica S.p.A.		3,340
	264,000		Finning International, Inc		4,910
	139,765		Finolex Cables Ltd		928
	420,000		First Tractor Co		230
	122,636		Flowserve Corp		5,916
	31,498	e	FLSmidth & Co AS		1,185
	203,897		Fluor Corp		10,464
	55,000	*	Fomento de Construcciones y Contratas S.A.		522
	3,185		Force Motors Ltd		168
	1,024,933		Fortive Corp		52,169
	595,233		Fortune Brands Home & Security, Inc		34,583
	234,930		Foshan Electrical and Lighting Co Ltd		196
	3,088,624		Fosun International		4,677
	106,185		Franklin Electric Co, Inc		4,323
	97,290	e	Freightcar America, Inc		1,399
	267,800	e	Fudo Tetra Corp		453
	62,353	*,e	FuelCell Energy, Inc		338
	963,438		Fuji Electric Holdings Co Ltd		4,428
	56,292	e	Fuji Machine Manufacturing Co Ltd		651
	274,978		Fujikura Ltd		1,502
	137,700	e	Fujitec Co Ltd		1,640

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	81,000		Fukuda Corp	$	896
	12,600		Fukushima Industries Corp		413
	357,000		Furukawa Co Ltd		560
	219,200		Furukawa Electric Co Ltd		5,964
	106,119	e	Futaba Corp/Chiba		1,732
	309,407		Galliford Try plc		5,312
	600,043		Gamesa Corp Tecnologica S.A.		14,377
	2,048,903		Gamuda BHD		2,428
	95,989	e	GATX Corp		4,276
	15,297		Gayatri Projects Ltd		146
	32,652	e	GEA Group AG.		1,815
	6,339		Geberit AG.		2,779
	24,600		Gecoss Corp		214
	14,451	*	Gencor Industries, Inc		173
	152,707	*,e	Generac Holdings, Inc		5,543
	220,198		General Cable Corp		3,299
	608,235		General Dynamics Corp		94,374
	24,999,909		General Electric Co		740,497
	4,818		Georg Fischer AG.		4,224
	2,514		Gesco AG.		197
	172,560	*	Gibraltar Industries, Inc		6,411
	9,300	e	Giken Seisakusho Co, Inc		172
	193,352		Global Brass & Copper Holdings, Inc		5,586
	47,856		Glory Ltd		1,578
	2,020,439	*	GMR Infrastructure Ltd		386
	50,325	*	GMS, Inc		1,119
	51,127		Gorman-Rupp Co		1,309
	73,829		Graco, Inc		5,463
	286,643		Grafton Group plc		1,846
	22,807		Graham Corp		436
	150,302	e	Grana y Montero S.A. (ADR)		1,254
	91,690		Granite Construction, Inc		4,561
	147,821	*	Great Lakes Dredge & Dock Corp		517
	68,627		Greaves Cotton Ltd		134
	63,667	e	Greenbrier Cos, Inc		2,247
	131,645	e	Griffon Corp		2,239
	493,284		Grupo Carso S.A. de C.V. (Series A1)		1,971
	142,600	e	Grupo Rotoplas SAB de C.V.		245
	52,695	*	GS Engineering & Construction Corp		1,417
	437,000		GS Yuasa Corp		1,801
	2,220,680		Gunkul Engineering PCL		299
	623,678	e	GWA International Ltd		1,379
	72,969		H&E Equipment Services, Inc		1,223
	808,813		Haitian International Holdings Ltd		1,599
	32,868		Haldex AB		462
	105,244	*	Halim Co Ltd		411
	255,696		Hangzhou Steam Turbine Co		327
	61,790	*	Hanjin Heavy Industries & Construction Co Ltd		240
	2,846,395		Hanwa Co Ltd		17,282
	177,916		Hanwha Corp		5,696
	44,921	*,m	Hanwha Corp		693
	583,100		HAP Seng Consolidated BHD		1,086

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,950,000		Harbin Power Equipment	$	943
	30,633		Hardinge, Inc		341
	24,100	e	Harmonic Drive Systems, Inc		702
	425,229		Harsco Corp		4,223
	232,068		Havells India Ltd		1,460
	604,700		Hazama Ando Corp		3,681
	188,210	*,e	HC2 Holdings, Inc		1,026
	776,479	*	HD Supply Holdings, Inc		24,832
	64,636		HEICO Corp		4,473
	117,401		HEICO Corp (Class A)		7,104
	197,674	*,e	Heidelberger Druckmaschinen		478
	276,369	*	Hellenic Technodomiki Tev S.A.		391
	166,289	*	Herc Holdings, Inc		5,604
	60,645	e	Hexagon Composites ASA		218
	557,538		Hexcel Corp		24,699
	38,800	e	Hibiya Engineering Ltd		638
	139,019		Hillenbrand, Inc		4,399
	413,825	*	Hindustan Construction Co		218
	94,820		Hino Motors Ltd		1,013
	45,000		Hisaka Works Ltd		380
	36,891		Hitachi Construction Machinery Co Ltd		736
	42,700	*	Hitachi Koki Co Ltd		311
	137,200		Hitachi Zosen Corp		697
	238,547		Hiwin Technologies Corp		1,252
	34,638		Hochtief AG.		4,888
	231,835		Hock Seng Lee BHD		98
	4,736,198		Honeywell International, Inc		552,193
	85,200		Hong Leong Industries BHD		191
	988,800	e	Hopewell Holdings		3,624
	80,709		Hoshizaki Electric Co Ltd		7,365
	115,429		Hosken Consolidated Investments Ltd		1,075
	787,605		Howden Joinery Group plc		4,413
	5,655,000	e	Hsin Chong Construction Group Ltd		309
	109,800	*	Huangshi Dongbei Electrical Appliance Co Ltd		202
	49,954		Hubbell, Inc		5,382
	17,822		Huber & Suhner AG.		1,189
	54,156		Hudaco Industries Ltd		405
	236,817		Huntington Ingalls		36,332
	23,015		Hurco Cos, Inc		646
	8,176		Hy-Lok Corp		161
	22,148		Hyster-Yale Materials Handling, Inc		1,332
	5,818		Hyundai Corp		116
	67,831		Hyundai Development Co		3,180
	12,724	*	Hyundai Elevator Co Ltd		788
	117,771		Hyundai Engineering & Construction Co Ltd		4,238
	46,489	*	Hyundai Heavy Industries		5,878
	10,250	*	Hyundai Mipo Dockyard		697
	23,563	*	Hyundai Rotem Co Ltd		443
	20,000		Idec Corp		186
	119,638		IDEX Corp		11,195
	15,042	*	IES Holdings, Inc		268
	2,976,412		IJM Corp BHD		2,310

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	19,608		Iljin Holdings Co Ltd	$	124
	616,927	e	Illinois Tool Works, Inc		73,933
	77,282		IMARKETKOREA, Inc		906
	64,297		IMI plc		895
	32,621		Implenia AG.		2,307
	160,690	e	Impregilo S.p.A.		463
	17,748		IMS-Intl Metal Service		319
	40,010		Inaba Denki Sangyo Co Ltd		1,446
	50,500		Inabata & Co Ltd		519
	41,381		Indus Holding AG.		2,359
	41,563		Industria Macchine Automatiche S.p.A.		2,761
	170,579		Industries Qatar QSC		5,057
	88,881		Indutrade AB		1,909
	8,323		Ingersoll-Rand India Ltd		89
	1,198,846		Ingersoll-Rand plc		81,450
	99,251		Insteel Industries, Inc		3,597
	65,794		Interpump Group S.p.A.		1,121
	113,270		Interserve plc		542
	112,345		Invicta Holdings Ltd		459
	153,702		Inwido AB		2,079
	57,400		Iochpe-Maxion S.A.		309
	231,058		IRB Infrastructure Developers Ltd		852
	30,258		IS Dongseo Co Ltd		1,528
	146,000	e	Iseki & Co Ltd		363
	1,847		ISGEC Heavy Engineering Ltd		125
	18,190,301	e	Ishikawajima-Harima Heavy Industries Co Ltd		52,865
	1,426,950	*	Italian-Thai Development PCL		211
	2,780,633		Itochu Corp		35,007
	130,910		ITT, Inc		4,692
	64,128	*	IVRCL Infrastructures & Projects Ltd		5
	509,000		Iwatani International Corp		3,143
	224,467	*	Jacobs Engineering Group, Inc		11,609
	4,585,283	*	Jain Irrigation Systems Ltd		6,184
	6,900	e	Jamco Corp		140
	61,604		Japan Pulp & Paper Co Ltd		201
	73,200		Japan Steel Works Ltd		1,663
	270,936	e	Jardine Matheson Holdings Ltd		16,421
	3,176,617		JG Summit Holdings (Series B)		4,891
	37,181		JGC Corp		647
	68,134		John Bean Technologies Corp		4,807
	642,861	g	John Laing Group plc		2,271
	564,875		Johnson Electric Holdings Ltd		1,446
	229,068		Joy Global, Inc		6,354
	950,291		JTEKT Corp		14,273
	22,500		Juki Corp		165
	54,137		Jungheinrich AG.		1,832
	3,337		JVM Co Ltd		174
	50,837		Kadant, Inc		2,649
	44,079		Kajaria Ceramics Ltd		920
	1,703,724		Kajima Corp		11,922
	38,227		Kalpataru Power Transmission Ltd		150
	230,300	*	Kama Co Ltd		279

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	62,959	e	Kaman Corp	$	2,765
	48,200		Kamei Corp		421
	38,200		Kanamoto Co Ltd		982
	323,000	e	Kandenko Co Ltd		2,980
	470,000		Kanematsu Corp		730
	1,395,532		KAP Industrial Holdings Ltd		761
	5,371		Kardex AG.		517
	17,200	e	Katakura Industries Co Ltd		205
	15,200	e	Kato Works Co Ltd		319
	3,905,171		Kawasaki Heavy Industries Ltd		12,099
	541,598		KBR, Inc		8,194
	16,689		KCC Corp		6,014
	61,861		KEC International Ltd		117
	339,146		Keihan Electric Railway Co Ltd		2,372
	58,649		Keller Group plc		666
	21,991		Kendrion NV		671
	1,149,139		Kennametal, Inc		33,348
	12,193		KEPCO Engineering & Construction Co, Inc		324
	1,083,877	e	Keppel Corp Ltd		4,314
	122,033	*,e	KEYW Holding Corp		1,347
	78,732	e	Kier Group plc		1,338
	242,600		Kinden Corp		2,797
	53,000		King Slide Works Co Ltd		687
	380,757		Kingspan Group plc		10,257
	102,000		Kinik Co		183
	172,934		KION Group AG.		11,205
	190,800		Kitz Corp		1,056
	61,531		Kloeckner & Co AG.		750
	162,909	*	KLX, Inc		5,734
	1,276,603		KOC Holding AS		5,485
	29,564	*	Koenig & Bauer AG.		1,391
	5,929		Kolon Corp		298
	470,183		Komatsu Ltd		10,786
	2,686		Komax Holding AG.		658
	149,490		Komori Corp		1,887
	422,576		Kone Oyj (Class B)		21,453
	41,536		Konecranes Oyj		1,472
	188,996	e	Koninklijke BAM Groep NV		876
	1,936,987		Koninklijke Philips Electronics NV		57,315
	66,937		Korea Aerospace Industries Ltd		4,665
	8,277		Korea Cast Iron Pipe Industries Co Ltd		79
	4,918		Korea Electric Terminal Co Ltd		347
	6,519	*,e	Kornit Digital Ltd		61
	109,793	*,e	Kratos Defense & Security Solutions, Inc		756
	13,181		Krones AG.		1,283
	450,658		Kubota Corp		6,821
	16,585	*	KUKA AG.		2,006
	658,000		Kumagai Gumi Co Ltd		1,699
	13,934	*	Kumho Industrial Co Ltd		133
	220,000		Kung Long Batteries Industrial Co Ltd		1,056
	16,598		Kurita Water Industries Ltd		394
	81,670		Kuroda Electric Co Ltd		1,567

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	115,000		Kyokuto Kaihatsu Kogyo Co Ltd	$	1,328
	371,300		Kyowa Exeo Corp		5,294
	58,700	e	Kyudenko Corp		2,154
	4,847		Kyung Dong Navien Co Ltd		272
	465,047		L-3 Communications Holdings, Inc		70,097
	2,565		Lakshmi Machine Works Ltd		159
	347,933		Larsen & Toubro Ltd		7,506
	20,859	*	Lawson Products, Inc		370
	46,942	*,e	Layne Christensen Co		399
	48,231		Legrand S.A.		2,843
	112,301		Lennox International, Inc		17,635
	107,780		LG Corp		6,369
	19,844		LG Hausys Ltd		1,903
	27,303		LG International Corp		870
	59,947	e	Lincoln Electric Holdings, Inc		3,754
	62,808		Lindab International AB		617
	24,057	e	Lindsay Corp		1,780
	6,177		Lion Chemtech Co Ltd		110
	35,159		LISI		973
	355,865	e	LIXIL Group Corp		7,624
	587,364		Lockheed Martin Corp		140,803
	1,906,000	e	Lonking Holdings Ltd		280
	88,543		LS Cable Ltd		4,704
	13,940		LS Industrial Systems Co Ltd		534
	78,873		LSI Industries, Inc		886
	256,000	*,e	Luoyang Glass Co Ltd		198
	41,857	*	Lydall, Inc		2,140
	8,485		Mabuchi Motor Co Ltd		471
	29,653	e	MacDonald Dettwiler & Associates Ltd		1,808
	2,546,000		Maeda Corp		21,646
	14,600	e	Maeda Kosen Co Ltd		167
	145,000		Maeda Road Construction Co Ltd		2,592
	30,308		Magellan Aerospace Corp		371
	413,649	e	Maire Tecnimont S.p.A		1,024
	173,748	e	Makino Milling Machine Co Ltd		1,071
	17,007		Makita Corp		1,212
	2,035,100		Malaysian Resources Corp BHD		641
	23,180		MAN AG.		2,445
	17,467		Manitou BF S.A.		304
	558,184		Manitowoc Co, Inc		2,674
	2,265,893	*	Manitowoc Foodservice, Inc		36,753
	435,500		Marcopolo S.A.		419
	1,343,358		Marubeni Corp		6,901
	2,518,320		Masco Corp		86,404
	126,366	*	Masonite International Corp		7,856
	184,662	*	Mastec, Inc		5,492
	60,000		Max Co Ltd		723
	1,499,193		Meggitt plc		8,750
	164,000		Meidensha Corp		541
	4,049,405		Melrose Industries plc		9,152
	182,983	*	Mercury Systems, Inc		4,496
	187,676	*	Meritor, Inc		2,089

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	10,100	e	METAWATER Co Ltd	$	276
	25,774		Metka S.A.		215
	23,173		Metso Oyj		676
	71,003		Micron Machinery Co Ltd		2,185
	149,013	*	Middleby Corp		18,421
	32,169	*	Milacron Holdings Corp		513
	26,226		Miller Industries, Inc		598
	561,800		Minebea Co Ltd		5,313
	422,100	e	Miraito Holdings Corp		3,597
	258,400		MISUMI Group, Inc		4,856
	1,315,887		Mitsubishi Corp		29,997
	738,757		Mitsubishi Electric Corp		9,468
	2,104,952		Mitsubishi Heavy Industries Ltd		8,805
	23,700		Mitsubishi Nichiyu Forklift Co Ltd		157
	42,700		Mitsuboshi Belting Co Ltd		363
	3,420,864		Mitsui & Co Ltd		47,409
	2,672,000		Mitsui Engineering & Shipbuilding Co Ltd		3,758
	71,900		Miura Co Ltd		1,439
	3,138,230		MMC Corp BHD		1,730
	194,524	e	Monadelphous Group Ltd		1,362
	142,400	e	MonotaRO Co Ltd		3,839
	115,372	*	Moog, Inc (Class A)		6,869
	582,083		Morgan Crucible Co plc		2,185
	105,900		Mori Seiki Co Ltd		1,105
	24,500		Morita Holdings Corp		348
	272,095	e	Mota Engil SGPS S.A.		522
	531,825	*	MRC Global, Inc		8,738
	238,662		MSC Industrial Direct Co (Class A)		17,520
	63,819		MTU Aero Engines Holding AG.		6,462
	185,340		Mueller Industries, Inc		6,009
	634,075		Mueller Water Products, Inc (Class A)		7,958
	1,000,600		Muhibbah Engineering M BHD		556
	1,116,126	e	Murray & Roberts Holdings Ltd		905
	85,134	*,e	MYR Group, Inc		2,563
	50,427		Nabtesco Corp		1,429
	130,332	e	Nachi-Fujikoshi Corp		480
	996,028		Nagarjuna Construction Co		1,232
	182,100		Nagase & Co Ltd		2,191
	37,500	e	Namura Shipbuilding Co Ltd		254
	366,961		National Central Cooling Co PJSC		177
	11,685	e	National Presto Industries, Inc		1,026
	138,873	*,e	Navistar International Corp		3,179
	272,816		NCC AB (B Shares)		7,149
	260,018	*	NCI Building Systems, Inc		3,794
	19,000	e	NEC Capital Solutions Ltd		314
	50,913	*	Neff Corp		484
	56,982	e	New Flyer Industries, Inc		1,713
	115,614	*	Nexans S.A.		6,633
	234,354		NGK Insulators Ltd		4,870
	299,288		Nibe Industrier AB		2,665
	113,000		Nichias Corp		1,000
	12,500		Nichiden Corp		353

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	23,800		Nichiha Corp	$	531
	44,125		Nidec Corp		4,079
	7,000	*	Nihon Trim Co Ltd		421
	179,000		Nippo Corp		3,404
	26,700	e	Nippon Densetsu Kogyo Co Ltd		502
	45,000		Nippon Koei Co Ltd		208
	113,000		Nippon Road Co Ltd		455
	283,730	*,e	Nippon Sharyo Ltd		748
	95,600	*	Nippon Sheet Glass Co Ltd		763
	41,745		Nippon Steel Trading Co Ltd		1,480
	33,000		Nippon Thompson Co Ltd		122
	873,000		Nishimatsu Construction Co Ltd		4,066
	15,800		Nishio Rent All Co Ltd		465
	336,600		Nisshinbo Industries, Inc		3,339
	186,100		Nissin Electric Co Ltd		3,102
	29,600		Nitta Corp		742
	360,000	*	Nitto Boseki Co Ltd		1,183
	20,500		Nitto Kogyo Corp		269
	8,373	e	Nitto Kohki Co Ltd		196
	19,986		NKT Holding AS		1,290
	61,676	e	NN, Inc		1,126
	6,071,142	*,e	Noble Group Ltd		684
	20,378		Nolato AB (B Shares)		625
	51,726	*,e	Nordex AG.		1,576
	152,862		Nordson Corp		15,230
	22,792		Noritake Co Ltd		528
	23,700		Noritz Corp		489
	79,864		NORMA Group		4,111
	948,549		Northrop Grumman Corp		202,942
	257,688	*	NOW, Inc		5,522
	1,453,654		NSK Ltd		14,904
	525,000		NTN Corp		1,835
	18,048	*	NV5 Holdings, Inc		583
	2,443,731		NWS Holdings Ltd		4,095
	25,800		Obara Corp		1,016
	1,398,254		Obayashi Corp		13,869
	85,086	e	Obrascon Huarte Lain S.A.		341
	166,821		OC Oerlikon Corp AG.		1,667
	4,446		OHB AG.		92
	169,400		Oiles Corp		2,882
	28,500		Okabe Co Ltd		233
	267,641	e	Okuma Holdings, Inc		2,053
	480,000	e	Okumura Corp		2,732
	6,803		Omega Flex, Inc		262
	52,431	*	Orascom Construction Ltd		303
	138,410		Orbital ATK, Inc		10,551
	76,000		Organo Corp		311
	74,357	*	Orion Marine Group, Inc		509
	63,000	e	OSG Corp		1,256
	133,423		Oshkosh Truck Corp		7,472
	449,000	e	OSJB Holdings Corp		950
	110,586		Osram Licht AG.		6,497

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	7,617		Otokar Otobus Karoseri Sanayi AS	$	260
	128,528	e	Outotec Oyj		618
	2,607,454		Owens Corning, Inc		139,212
	575,965		Paccar, Inc		33,855
	28,038		Palfinger AG.		814
	300,000		Pantaloon Retail India Ltd		73
	1,035,637		Parker Hannifin Corp		130,003
	82,551	*	Patrick Industries, Inc		5,112
	438,869		Peab AB (Series B)		3,786
	163,866		Pentair plc		10,527
	555,300		Penta-Ocean Construction Co Ltd		3,167
	41,618		PER Aarsleff A.S.		1,001
	328,400		PESTECH International Bhd		133
	20,789		Pfeiffer Vacuum Technology AG.		1,976
	109,823	*	PGT, Inc		1,172
	10,860		Pinguely-Haulotte		164
	18,818	e	Pkc Group Oyj		363
	409,872	*,e	Plug Power, Inc		701
	217,492	*	Ply Gem Holdings, Inc		2,906
	57,995		PNC Infratech Ltd		101
	156,746		Polypipe Group plc		570
	31,110		Ponsse Oy		874
	19,129		Porr AG.		687
	19,259		Powell Industries, Inc		771
	14,079	*,e	Power Solutions International, Inc		144
	6,569		Preformed Line Products Co		277
	94,931		Primoris Services Corp		1,956
	56,584	*,e	Proto Labs, Inc		3,390
	147,470		Prysmian S.p.A.		3,862
	11,477,105		PT Adhi Karya Persero Tbk		2,085
	1,855,900		PT AKR Corporindo Tbk		921
	7,236,600		PT Arwana Citramulia Tbk		316
	1,200,000		PT Asahimas Flat Glass Tbk		639
	2,803,600	*,m	PT Inovisi Infracom Tbk		25
	2,255,800		PT Pembangunan Perumahan Tbk		726
	4,175,900	*	PT Sitara Propertindo Tbk		215
	10,738,700		PT Surya Semesta Internusa Tbk		458
	5,919,800		PT Waskita Karya Persero Tbk		1,191
	1,992,000		PT Wijaya Karya		428
	1,587,553		QinetiQ plc		4,864
	215,175		Quanex Building Products Corp		3,714
	269,735	*	Quanta Services, Inc		7,550
	71,200		Raito Kogyo Co Ltd		858
	235,771		Ramirent Oyj		1,901
	177,813		Randon Participacoes S.A.		252
	2,770		Rational AG.		1,390
	215,687		Raubex Group Ltd		386
	90,812		Raven Industries, Inc		2,091
	1,519,563		Raytheon Co		206,858
	52,235	*	RBC Bearings, Inc		3,995
	588,917		Rechi Precision Co Ltd		716
	123,529		Regal-Beloit Corp		7,349

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	467,135		Reunert Ltd	$	2,080
	545,671		Rexel S.A.		8,359
	354,122	*	Rexnord Corp		7,582
	139,595		Rheinmetall AG.		9,730
	480,583		Rich Development Co Ltd		137
	5,963		Rieter Holding AG.		1,210
	167,317		Rockwell Automation, Inc		20,470
	207,389		Rockwell Collins, Inc		17,491
	6,138		Rockwool International AS (B Shares)		1,106
	1,194,318	e	Rolls-Royce Group plc		11,143
	507,797		Roper Industries, Inc		92,658
	713,067		Rotork plc		1,950
	13,577	*,e	Rush Enterprises, Inc		330
	66,163	*	Rush Enterprises, Inc (Class A)		1,620
	60,810		Russel Metals, Inc		971
	1,282,000		Ryobi Ltd		5,702
	18,088		S&T Dynamics Co Ltd		153
	52,319		Saab AB (Class B)		1,863
	728,396	e	Sacyr Vallehermoso S.A.		1,537
	121,612		Sadbhav Engineering Ltd		515
	277,391		Safran S.A.		19,951
	581,736		Salfacorp S.A.		458
	7,439		Sam Yung Trading Co Ltd		135
	22,057	*	Samho International Co Ltd		344
	54,645		Sammok S-Form Co Ltd		767
	244,153	*	Samsung Engineering Co Ltd		2,418
	157,434	e	Samsung Heavy Industries Co Ltd		1,350
	117,846		Samsung Techwin Co Ltd		6,838
	112,623		San Shing Fastech Corp		210
	304,431		Sandvik AB		3,350
	107,700	e	Sanki Engineering Co Ltd		962
	50,000		Sanko Gosei Ltd		150
	19,500		Sankyo Tateyama, Inc		317
	308,400		Sanwa Shutter Corp		2,986
	826,000	*,e	Sany Heavy Equipment International		115
	31,000		Sanyo Denki Co Ltd		171
	20,231		Schindler Holding AG.		3,799
	14,570		Schindler Holding AG. (Registered)		2,760
	51,824	*	Schneider Electric Infrastructure Ltd		107
	2,781,905		Schneider Electric S.A.		193,520
	2,197		Schweiter Technologies AG.		2,544
	377,532		Seibu Holdings, Inc		6,232
	121,100		Sekisui Jushi Corp		1,963
	779,383	e	SembCorp Industries Ltd		1,492
	123,803	e	SembCorp Marine Ltd		119
	7,933	e	Semperit AG. Holding		217
	344,301	e	Senior plc		1,022
	5,424	*	Sensata Technologies Holding BV		210
	337,855	e	Seven Network Ltd		2,235
	13,757		SFS Group AG.		1,085
	69,743	*,e	SGL Carbon AG.		818
	253,908	*	SGSB Group Co Ltd		273

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	100,200	*	Shanghai Automation Instrumentation Co Ltd	$	159
	2,344,000	*	Shanghai Dasheng Agricultural Finance Technology Co Ltd		219
	336,980		Shanghai Diesel Engine Co Ltd		296
	10,665,025	e	Shanghai Electric Group Co Ltd		5,077
	298,900		Shanghai Highly Group Co Ltd		248
	1,260,508		Shanghai Industrial Holdings Ltd		3,649
	2,112,000		Shanghai Prime Machinery Co Ltd		433
	74,266		Shapir Engineering and Industry Ltd		156
	32,300		Shibuya Kogyo Co Ltd		609
	247,100		Shikun & Binui Ltd		451
	75,700		Shima Seiki Manufacturing Ltd		2,068
	342,451		Shimizu Corp		3,061
	135,000		Shin Zu Shing Co Ltd		448
	134,590		Shinmaywa Industries Ltd		892
	17,900	e	SHO-BOND Holdings Co Ltd		834
	8,400	e	Showa Aircraft Industry Co Ltd		78
	1,868,693		Siemens AG.		219,123
	122,290		Siemens India Ltd		2,282
	486,777		SIG plc		734
	2,611,445		Sime Darby BHD		4,838
	97,505		Simpson Manufacturing Co, Inc		4,285
	1,318,000		Singamas Container Holdings Ltd		140
	1,249,287		Singapore Technologies Engineering Ltd		2,972
	16,200	*	Sinko Industries Ltd		207
	599,657		Sino Thai Engineering & Construction PCL		405
	2,780,996	e	Sinopec Engineering Group Co Ltd		2,409
	1,732,000	e	Sinotruk Hong Kong Ltd		930
	804,504		Sintex Industries Ltd		949
	97,000		Sintokogio Ltd		894
	37,100	*,e	SiteOne Landscape Supply, Inc		1,333
	72,731		SK C&C Co Ltd		14,075
	128,862		SK Networks Co Ltd		788
	775,900		Skanska AB (B Shares)		18,127
	87,178		SKF AB (B Shares)		1,505
	19,956		SKF India Ltd		421
	535,000		SKP Resources BHD		168
	6,540,000	*,e	Skyway Securities Group Ltd		176
	23,439	*,e	SLM Solutions Group AG.		1,110
	315,147		SM Investments Corp		4,389
	14,392		SMC Corp		4,155
	440,223		Smiths Group plc		8,356
	179,211		Snap-On, Inc		27,233
	232,487		SNC-Lavalin Group, Inc		9,131
	242,016	*	SOCAM Development Ltd		91
	36,300		Sodick Co Ltd		270
	2,742,800		Sojitz Holdings Corp		7,027
	3,909		Solar Holdings AS (B Shares)		223
	156,494	*,e	SolarCity Corp		3,061
	18,570	*	Sparton Corp		488
	461,113		Speedy Hire plc		212
	62,954		SPIE S.A.		1,253

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	140,457		Spirax-Sarco Engineering plc	$	8,187
	527,781	*	Spirit Aerosystems Holdings, Inc (Class A)		23,507
	454,167	*	SPX Corp		9,147
	458,371	*	SPX FLOW, Inc		14,173
	88,005		Standex International Corp		8,173
	562,054		Stanley Works		69,121
	29,900	e	Star Micronics Co Ltd		374
	53,484	*	Ste Industrielle d’Aviation Latecoere S.A.		215
	4,404,720		STP & I PCL		1,076
	12,934		Sulzer AG.		1,354
	1,002,070	e	Sumitomo Corp		11,218
	55,900		Sumitomo Densetsu Co Ltd		584
	4,709,950		Sumitomo Heavy Industries Ltd		23,272
	3,851,400		Sumitomo Mitsui Construction C		3,629
	8,448,000	*	Summit Ascent Holdings Ltd		2,872
	54,486		Sun Hydraulics Corp		1,758
	16,459		Sung Kwang Bend Co Ltd		133
	139,279	*,e	Sunrun, Inc		877
	93,000		Sunspring Metal Corp		130
	1,878,922		Sunway Construction Group BHD		740
	162,825		Supreme Industries, Inc		3,143
	2,137,651	*	Suzlon Energy Ltd		478
	133,650	e	Sweco AB (B Shares)		2,755
	354,000		Syncmold Enterprise Corp		598
	227,900		Tadano Ltd		2,243
	8,557	*	Taewoong Co Ltd		190
	34,278	*	Taeyoung Engineering & Construction		174
	26,000		Taihei Dengyo Kaisha Ltd		261
	85,600		Taikisha Ltd		2,120
	1,458,158		Taisei Corp		10,939
	1,057,670	*	Taiwan Glass Industrial Corp		499
	195,993		Takamatsu Corp		4,540
	30,465		Takara Standard Co Ltd		566
	36,800		Takasago Thermal Engineering Co Ltd		547
	31,800		Takeuchi Manufacturing Co Ltd		537
	193,000		Takuma Co Ltd		1,823
	92,282	*,e,g	Talgo S.A.		448
	67,898		Tarkett S.A.		2,746
	120,664	*,e	Taser International, Inc		3,452
	271,000		Tat Hong Holdings Ltd		96
	18,400		Tatsuta Electric Wire and Cable Co Ltd		65
	4,652,400	*,e	Tech Pro Technology Development Ltd		107
	2,201,679		Teco Electric and Machinery Co Ltd		1,905
	15,000		Teikoku Sen-I Co Ltd		235
	850,427		Tekfen Holding AS		2,188
	93,000	e	Tekken Corp		288
	78,379	*	Teledyne Technologies, Inc		8,459
	51,218		Tennant Co		3,319
	2,528,434		Terex Corp		64,247
	44,229		Texmaco Rail & Engineering Ltd		71
	50,280	e	Textainer Group Holdings Ltd		377

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	3,584,206		Textron, Inc	$	142,472
	399,245		Thales S.A.		36,763
	30,740	*,e	The ExOne Company		468
	43,409		Thermax Ltd		551
	71,426	*	Thermon Group Holdings		1,411
	62,992		THK Co Ltd		1,239
	676,443		Timken Co		23,770
	16,827		Timken India Ltd		140
	163,805	e	Titan International, Inc		1,658
	77,061	*,e	Titan Machinery, Inc		801
	65,620		TK Corp		501
	103,911		TKH Group NV		4,057
	12,200		Toa Corp/Tokyo		227
	11,100		Tocalo Co Ltd		243
	560,000		Toda Corp		2,953
	33,000		Toenec Corp		162
	328,100	e	Tokai Corp		2,103
	449,660		Tokyu Construction Co Ltd		4,498
	113,196		Toro Co		5,302
	111,500	e	Toromont Industries Ltd		3,326
	750,957	*,e	Toshiba Corp		2,503
	428,964		Toshiba Machine Co Ltd		1,473
	77,100	e	Toshiba Plant Systems & Services Corp		1,246
	23,400	e	Totetsu Kogyo Co Ltd		673
	50,475	e	Toto Ltd		1,908
	61,500		Toyo Construction Co Ltd		267
	123,000		Toyo Engineering Corp		398
	24,600	e	Toyo Tanso Co Ltd		320
	262,653		Toyota Tsusho Corp		6,104
	12,161	*	TPI Composites, Inc		259
	308,110		Trakya Cam Sanayi AS		256
	196,463	*	TransDigm Group, Inc		56,801
	534,303		Travis Perkins plc		10,657
	273,661		Trelleborg AB (B Shares)		5,360
	157,431	e	Trencor Ltd		387
	69,910	e	Trevi Finanziaria S.p.A.		96
	68,975	*	Trex Co, Inc		4,050
	119,926	*	Trimas Corp		2,232
	206,817		Trinity Industries, Inc		5,001
	92,674		Triton International Ltd		1,222
	903,418	e	Triumph Group, Inc		25,187
	17,500		Trusco Nakayama Corp		933
	17,700	*	Tsubaki Nakashima Co Ltd		268
	130,000		Tsubakimoto Chain Co		1,007
	46,000	e	Tsugami Corp		241
	23,200		Tsukishima Kikai Co Ltd		257
	14,200		Tsurumi Manufacturing Co Ltd		221
	606,435		Turk Sise ve Cam Fabrikalari AS		643
	119,666	*	Tutor Perini Corp		2,569
	470,900		UEM Edgenta BHD		379
	57,403		Ultra Electronics Holdings		1,319
	7,900	e	Union Tool Co		210

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	459,100		Unique Engineering & Construction PCL	$	219
	553,800	e	United Engineers Ltd		1,005
	1,021,000		United Integrated Services Co Ltd		1,557
	418,576	*	United Rentals, Inc		32,854
	922,727		United Technologies Corp		93,749
	143,673	*	Univar, Inc		3,139
	104,612		Universal Forest Products, Inc		10,303
	110,418		Uponor Oyj		2,046
	1,986,427	*	USG Corp		51,349
	567,600		Ushio, Inc		6,540
	330,542		Valmet Corp		4,974
	88,176		Valmont Industries, Inc		11,866
	404,800		Vanachai Group PCL		158
	84,346	*	Vectrus, Inc		1,285
	37,518	*	Veritiv Corp		1,882
	449,722		Vestas Wind Systems AS		37,149
	348,181		Vesuvius plc		1,581
	65,840		V-Guard Industries Ltd		182
	43,067	*	Vicor Corp		500
	1,915,415		Vinci S.A.		146,679
	1,018,000	*,e	Vision Fame International Holding Ltd		385
	96,356		Voltas Ltd		550
	43,995		Voltronic Power Technology Corp		689
	456,193		Volvo AB (B Shares)		5,209
	8,183	*	Vossloh AG.		487
	49,222	e	W.W. Grainger, Inc		11,067
	182,732	*,e	Wabash National Corp		2,602
	357,349	*	WABCO Holdings, Inc		40,570
	21,023		Wacker Construction Equipment AG.		307
	16,329		Wajax Income Fund		180
	28,300		Wakita & Co Ltd		215
	7,149,000	*	Walsin Lihwa Corp		2,380
	3,544		Walter Meier AG.		128
	32,450		Wartsila Oyj (B Shares)		1,461
	107,274		Watsco, Inc		15,115
	65,614		Watts Water Technologies, Inc (Class A)		4,254
	1,786,212		WCT Berhad		697
	600,618		Weg S.A.		3,261
	1,188,142	e	Weichai Power Co Ltd		1,603
	1,917,597		Weir Group plc		42,235
	3,592,000		Welling Holding Ltd		765
	344,808	*	WESCO International, Inc		21,202
	168,547	e	Westinghouse Air Brake Technologies Corp		13,762
	8,926	*	Willis Lease Finance Corp		212
	41,249		Wilson Bayly Holmes-Ovcon Ltd		463
	339,939		Wolseley plc		19,119
	121,177		Woodward Governor Co		7,571
	161,103		WSP Global, Inc		5,075
	398,112		Xxentria Technology Materials Corp		1,067
	522,822		Xylem, Inc		27,422
	10,395		Y G-1 Co Ltd		91
	109,700	e	Yahagi Construction Co Ltd		993

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	39,000		YAMABIKO Corp	$	352
	189,600		Yamazen Corp		1,451
	6,831,149		Yangzijiang Shipbuilding		3,779
	35,339		Yazicilar Holding AS		153
	94,283		YIT Oyj		760
	118,200	e	Yokogawa Bridge Holdings Corp		1,321
	2,056,000	e	Yuanda China Holdings Ltd		59
	49,000		Yuasa Trading Co Ltd		1,126
	855,000		Yungtay Engineering Co Ltd		1,274
	64,000		Yurtec Corp		354
	6,300	e	Yushin Precision Equipment Co Ltd		159
	154,865	e	Zardoya Otis S.A.		1,490
	8,598		Zehnder Group AG.		382
	15,000	e	Zenitaka Corp		52
	277,400		Zhengzhou Coal Mining Machinery Group Co Ltd		131
	594,141		Zhuzhou CSR Times Electric Co Ltd		3,104
	139,419		Zodiac S.A.		3,393
	22,642		Zumtobel AG.		437
			TOTAL CAPITAL GOODS		8,830,952
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	48,300	*,e	51job, Inc (ADR)		1,612
	130,613		ABM Industries, Inc		5,185
	201,674		Acacia Research (Acacia Technologies)		1,315
	320,472	*	ACCO Brands Corp		3,089
	309,708		Adecco S.A.		17,457
	95,080	*	Advisory Board Co		4,254
	25,600		Aeon Delight Co Ltd		781
	115,677		AF AB		2,250
	59,577		Aggreko plc		735
	17,250		Akka Technologies S.A.		641
	418,756		ALS Ltd		1,925
	11,595		Amadeus Fire AG		831
	60,425		American Banknote S.A.		567
	109,475		Applus Services S.A.		1,112
	26,255	*,e	Aqua Metals, Inc		233
	128,261	*	ARC Document Solutions, Inc		480
	17,492		Assystem		515
	4,400	e	Asukanet Co Ltd		50
	282,637		Atkins WS plc		5,812
	232,253		Babcock International Group		3,109
	14,562		Barrett Business Services, Inc		722
	376,000	*	Beijing Development HK Ltd		74
	26,100	*,e	Bell System24 Holdings, Inc		225
	13,400		Benefit One, Inc		422
	4,503	e	Bertrandt AG.		490
	28,442		Bilfinger Berger AG.		938
	831,521		Blue Label Telecoms Ltd		1,151
	2,736,000	*	Blue Sky Power Holdings Ltd		209
	167,439		Brady Corp (Class A)		5,795
	2,109,334		Brambles Ltd		19,443
	72,785		Bravida Holding AB		484

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	135,459		Brink’s Co	$	5,023
	604,000	e	Broad Greenstate International Co Ltd		115
	66,203		Brunel International NV		1,157
	225,640		Bureau Veritas S.A.		4,841
	86,064	e	Cabcharge Australia Ltd		226
	106,716	e	Cape plc		289
	585,434		Capita Group plc		5,071
	4,062,000	*	Capital Environment Holdings Ltd		159
	163,414	*	Casella Waste Systems, Inc (Class A)		1,683
	76,039	e	Caverion Corp		585
	338,750	*	CBIZ, Inc		3,791
	82,496		CEB, Inc		4,494
	170,804	e	Ceco Environmental Corp		1,927
	24,393		Cewe Color Holding AG.		2,194
	3,541,751	e	China Everbright International Ltd		4,246
	191,174		Cintas Corp		21,526
	152,031	*	Clean Harbors, Inc		7,294
	62,000		Cleanaway Co Ltd		343
	4,046,886		Cleanaway Waste Management Ltd		3,485
	299,349	e	CNH Industrial NV (NYSE)		2,161
	25,913	*,e	Cogint, Inc		132
	3,293		Compx International, Inc		38
	232,420	*,e	Copart, Inc		12,448
	309,834	e	Covanta Holding Corp		4,768
	38,295	*	CRA International, Inc		1,018
	407,611		Dai Nippon Printing Co Ltd		3,999
	31,900		Daiseki Co Ltd		623
	283,156		Davis Service Group plc		4,552
	83,807		De La Rue plc		646
	118,422		Deluxe Corp		7,913
	116,285		Derichebourg		369
	1,354,902		Downer EDI Ltd		5,637
	93,243		Dun & Bradstreet Corp		12,739
	30,798	e	Duskin Co Ltd		574
	360,271	*,m	Dyax Corp		400
	351,000	e	Dynagreen Environmental Protection Group Co Ltd		176
	1,255,730		Edenred		29,343
	87,028		Elis S.A.		1,436
	19,000		en-japan, Inc		412
	96,805		Ennis, Inc		1,631
	420,728		Equifax, Inc		56,622
	85,941		Essendant, Inc		1,764
	1,375,204		Experian Group Ltd		27,474
	83,119		Exponent, Inc		4,244
	49,739	*	Franklin Covey Co		886
	117,127	*	FTI Consulting, Inc		5,219
	20,800		Funai Soken Holdings, Inc		311
	15,463,000	*,m	Fung Choi Media Group Ltd		113
	45,365		G & K Services, Inc (Class A)		4,332
	21,299	*	Gategroup Holding AG.		1,157
	5,641		Gategroup Holding AG.		319

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	10,700		GL Events	$	210
	34,158	*	GP Strategies Corp		841
	1,383,586		Group 4 Securicor plc		4,080
	12,522		Groupe CRIT		761
	71,102		Gunnebo AB		328
	7,521,175		Hays plc		12,659
	163,673		Healthcare Services Group		6,478
	92,252		Heidrick & Struggles International, Inc		1,711
	30,473	*	Heritage-Crystal Clean, Inc		405
	177,209		Herman Miller, Inc		5,068
	78,489	*	Hill International, Inc		362
	164,119		HNI Corp		6,532
	527,587		HomeServe plc		3,939
	71,839	*	Huron Consulting Group, Inc		4,293
	72,529	*	ICF International, Inc		3,215
	181,178	*	IHS Markit Ltd		6,803
	90,856	*	Innerworkings, Inc		856
	126,738		Insperity, Inc		9,206
	378,837		Interface, Inc		6,323
	305,006	e	Intertek Group plc		13,769
	317,135		Intrum Justitia AB		10,228
	84,865	e	IPH Ltd		371
	232,661		ISS A.S.		9,668
	84,118	e	ITAB Shop Concept AB		773
	87,000		Itoki Corp		588
	10,600	*	JAC Recruitment Co Ltd		128
	2,574		Kaba Holding AG.		1,908
	353,908		KAR Auction Services, Inc		15,275
	26,000		KD Holding Corp		147
	64,402		Kelly Services, Inc (Class A)		1,238
	25,573		KEPCO Plant Service & Engineering Co Ltd		1,347
	184,150		Kforce, Inc		3,773
	136,300		Kimball International, Inc (Class B)		1,764
	167,832		Knoll, Inc		3,835
	233,900		Kokuyo Co Ltd		3,399
	226,885		Korn/Ferry International		4,765
	132,000	e	Kyodo Printing Co Ltd		433
	198,700		Loomis AB		6,132
	338,380		Manpower, Inc		24,451
	12,562		Matsuda Sangyo Co Ltd		172
	75,951		Matthews International Corp (Class A)		4,615
	70,458		McGrath RentCorp		2,234
	158,098	e	McMillan Shakespeare Ltd		1,438
	23,200		Meitec Corp		817
	254,752		Michael Page International plc		1,106
	481,019		Mineral Resources Ltd		4,101
	133,189	*	Mistras Group, Inc		3,126
	334,229		Mitie Group		832
	14,972		Mitsubishi Pencil Co Ltd		744
	105,370		Mobile Mini, Inc		3,182
	225,160		Moleskine S.p.A		611
	40,376	e	Morneau Sobeco Income Fund		584

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	36,200		Moshi Moshi Hotline, Inc	$	324
	72,585		MSA Safety, Inc		4,213
	30,811		Multi-Color Corp		2,034
	191,005	*	Navigant Consulting, Inc		3,862
	928,784		Nielsen NV		49,755
	12,200		Nippon Kanzai Co Ltd		181
	146,700	e	Nippon Parking Development Co Ltd		206
	27,560	e	Nissha Printing Co Ltd		681
	20,760	*,e	NL Industries, Inc		82
	33,100		Nomura Co Ltd		516
	190,800		Okamura Corp		1,849
	149,404	*	On Assignment, Inc		5,422
	10,000	*,e	Outsourcing, Inc		435
	10,568		Oyo Corp		120
	315,500		Park24 Co Ltd		10,261
	29,400		Pilot Corp		1,227
	727,259		Pitney Bowes, Inc		13,207
	196,972		Programmed Maintenance Services Ltd		246
	780,846	e	Prosegur Cia de Seguridad S.A.		5,451
	251,867		Quad Graphics, Inc		6,730
	763,592		R.R. Donnelley & Sons Co		12,004
	161,689		Randstad Holdings NV		7,352
	350,000	*,e	Realord Group Holdings Ltd		248
	460,859		Recruit Holdings Co Ltd		18,800
	1,456,138		Regus plc		4,924
	4,486,476		Rentokil Initial plc		12,895
	689,454		Republic Services, Inc		34,783
	196,870		Resources Connection, Inc		2,941
	75,158	e	Restore plc		338
	199,311		Ritchie Bros Auctioneers, Inc		6,984
	402,700		Riverstone Holdings Ltd		266
	512,498		Robert Half International, Inc		19,403
	211,435	e	Rollins, Inc		6,191
	758,300	*,e	Rowsley Ltd		70
	249,849		RPS Group plc		560
	386,415	*	RPX Corp		4,131
	21,159		S1 Corp (Korea)		1,955
	837,878		SAI Global Ltd (New)		2,993
	21,152		Sato Corp		463
	2,750		Seche Environnement S.A.		94
	221,354		Secom Co Ltd		16,529
	472,255		Securitas AB (B Shares)		7,909
	721,568		Seek Ltd		8,650
	902,876	*	Serco Group plc		1,528
	294,059		SG Fleet Group Ltd		966
	5,337		SGS S.A.		11,959
	100,500	m	Shanghai Youngsun Investment C		252
	357,500	*	Shanghai Zhongyida Co Ltd		201
	491,718		Shanks Group plc		695
	188,225	e	Shenzhen Dongjiang Environmental Co Ltd		306
	36,858		Societe BIC S.A.		5,449
	47,100		Sohgo Security Services Co Ltd		2,531

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	55,670	*	SP Plus Corp	$	1,423
	59,783		Sporton International, Inc		300
	905,485		Spotless Group Holdings Ltd		746
	93,381		Stantec, Inc		2,194
	197,504		Steelcase, Inc (Class A)		2,743
	358,149	*	Stericycle, Inc		28,702
	54,000		Sunny Friend Environmental Technology Co Ltd		232
	18,790		Synergie S.A		627
	361,520		Taiwan Secom Co Ltd		1,051
	369,670		Taiwan-Sogo Shinkong Security Corp		474
	90,000	e	Takeei Corp		735
	30,600	*	Tanseisha Co Ltd		228
	66,237	*	Team, Inc		2,167
	28,800		TechnoPro Holdings, Inc		1,089
	142,895		Teleperformance		15,243
	206,500		Temp Holdings Co Ltd		3,627
	155,146		Tetra Tech, Inc		5,503
	312,000		Tianjin Capital Environmental Protection Group Co Ltd		178
	145,400		Toppan Forms Co Ltd		1,528
	538,669		Toppan Printing Co Ltd		4,863
	28,000	*,e	Tosho Printing Co Ltd		127
	111,938	m	Towers Watson & Co		14,862
	109,718		Tox Free Solutions Ltd		193
	226,294		Transcontinental, Inc		3,039
	124,384	*	TransUnion		4,291
	60,128	*	TRC Cos, Inc		521
	247,990	*	TriNet Group, Inc		5,364
	192,684	*	TrueBlue, Inc		4,366
	50,158		Unifirst Corp		6,614
	70,124		US Ecology, Inc		3,144
	560,480	*	Verisk Analytics, Inc		45,556
	49,439	e	Viad Corp		1,823
	20,530		VSE Corp		698
	116,734	*	WageWorks, Inc		7,110
	1,785,264		Waste Management, Inc		113,828
	161,846		West Corp		3,574
	304,386		Wolters Kluwer NV		13,013
	33,200		Yumeshin Holdings Co Ltd		255
	9,400	*	Zhaopin Ltd (ADR)		141
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,148,779
CONSUMER DURABLES & APPAREL - 2.2%
	592,000		361 Degrees International Ltd		211
	60,942	*	Accell Group NV		1,548
	1,102,805		Adidas-Salomon AG.		191,805
	22,591	*	Agabang&Company		169
	65,840		Aksa Akrilik Kimya Sanayii		179
	439,300		Alpargatas S.A.		1,305
	34,400		Alpine Electronics, Inc		455
	204,358		Altek Corp		152
	329,451		Amer Sports Oyj (A Shares)		10,076
	2,500,157		AmTRAN Technology Co Ltd		1,925

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,213,235	e	Anta Sports Products Ltd	$	3,317
	261,875		Arcelik AS		1,843
	30,461	e	Arctic Cat, Inc		472
	43,000		Arezzo Industria e Comercio S.A.		346
	121,523		Arvind Ltd		617
	109,738		Asics Corp		2,211
	21,632		Bajaj Electricals Ltd		83
	31,507	*,e	Bang & Olufsen AS (B Shares)		326
	2,548,352		Barratt Developments plc		16,315
	9,919	*	Basic House Co Ltd		88
	36,626		Bassett Furniture Industries, Inc		852
	513,000		Basso Industry Corp		1,636
	29,691		Bata India Ltd		219
	137,666	*,e	Beazer Homes USA, Inc		1,605
	10,577,293		Belle International Holdings Ltd		7,323
	341,055		Bellway plc		10,459
	27,028	e	Beneteau S.A.		275
	335,124		Berkeley Group Holdings plc		11,198
	666,000		Best Pacific International Holdings Ltd		567
	4,121	e	Bijou Brigitte AG.		247
	83,684	*	Billabong International Ltd		81
	136,942	*	Bonava AB		1,727
	2,608,000	e	Bosideng International Holdings Ltd		237
	110,424		Bovis Homes Group plc		1,252
	73,377		Breville Group Ltd		493
	93,204	*	BRP, Inc		1,824
	21,335	e	Brunello Cucinelli S.p.A		415
	158,872		Brunswick Corp		7,750
	677,903		Burberry Group plc		12,097
	1,978,000	*	C.banner International Holdings Ltd		581
	197,000		Cabbeen Fashion Ltd		51
	3,589,011	*,e	Cairn Homes plc		4,330
	202,292	e	CalAtlantic Group, Inc		6,765
	830,021		Callaway Golf Co		9,637
	182,508		Carter’s, Inc		15,825
	63,515	e	Casio Computer Co Ltd		889
	32,313	*	Cavco Industries, Inc		3,201
	26,010		CCC S.A.		1,205
	34,944	*	Century Communities, Inc		752
	22,183,400		China Dongxiang Group Co		4,393
	1,050,000		China Lilang Ltd		600
	1,131,000	*,m	China Longevity Group Co Ltd		1
	13,700		Chofu Seisakusho Co Ltd		360
	67,119		Christian Dior S.A.		12,038
	539,076	e	Cie Financiere Richemont S.A.		32,877
	1,338,000		Citychamp Watch & Jewellery Group Ltd		315
	109,000		Clarion Co Ltd		324
	36,500		Cleanup Corp		310
	742,158		Coach, Inc		27,133
	78,319		Columbia Sportswear Co		4,444
	1,625,200	e	Consorcio ARA, S.A. de C.V.		574
	9,900		Corona Corp		100

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	98,400		Corpovael S.A. de C.V.	$	72
	539,000	e,g	Cosmo Lady China Holdings Co Ltd		223
	842,554		Crest Nicholson Holdings plc		4,927
	165,763	*	CROCS, Inc		1,376
	499,166	*	Crompton Greaves Consumer Electricals Ltd		1,154
	19,319		CSS Industries, Inc		494
	30,633		Culp, Inc		912
	3,035,400		Cyrela Brazil Realty S.A.		9,548
	75,431	*	Deckers Outdoor Corp		4,492
	48,717		De’Longhi S.p.A.		1,180
	17,980	*	Delta Apparel, Inc		296
	6,875		Delta-Galil Industries Ltd		194
	35,890	e	Descente Ltd		465
	62,942		Dorel Industries, Inc (Class B)		1,694
	951,695		DR Horton, Inc		28,741
	68,844		Duni AB		1,048
	229,793		Eclat Textile Co Ltd		2,753
	798,181		Electrolux AB (Series B)		19,992
	35,557		Enex Co Ltd		83
	25,434		Escalade, Inc		325
	57,426	e	Ethan Allen Interiors, Inc		1,796
	200,200		Even Construtora e Incorporadora S.A.		236
	326,950		Ez Tec Empreendimentos e Participacoes S.A.		1,530
	405,672		Feng TAY Enterprise Co Ltd		1,805
	12,000	e	Fields Corp		150
	8,951		Fila Korea Ltd		777
	14,427		Flexsteel Industries, Inc		746
	980		Forbo Holding AG.		1,318
	529,852		Formosa Taffeta Co Ltd		503
	220,679		Forus S.A.		824
	459,825	*,e	Fossil Group, Inc		12,769
	75,191		Foster Electric Co Ltd		1,382
	55,600		France Bed Holdings Co Ltd		484
	339,999	e,m	Fuguiniao Co Ltd		170
	38,600		Fujibo Holdings Inc		1,114
	101,000		Fujitsu General Ltd		2,188
	70,400	*,e	Funai Electric Co Ltd		578
	313,400		Gafisa S.A.		240
	227,793	e	Garmin Ltd		10,959
	65,981	e	Geox S.p.A.		157
	20,249	e	Gerry Weber International AG.		259
	293,439		Giant Manufacturing Co Ltd		2,075
	100,722	*	G-III Apparel Group Ltd		2,936
	219,291		Gildan Activewear, Inc		6,124
	5,832,000	*	Global Brands Group Holding Ltd		598
	4,500		Goldwin, Inc		237
	3,782,000		Goodbaby International Holding		1,962
	598,528	*,e	GoPro, Inc		9,983
	58,514	*,e	Green Brick Partners, Inc		483
	7,700		Guararapes Confeccoes S.A.		161
	74,030	e	GUD Holdings Ltd		599
	526,000		Gunze Ltd		1,699

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,515,944	e	Haier Electronics Group Co Ltd	$	2,522
	12,661		Handsome Co Ltd		468
	1,096,368		Hanesbrands, Inc		27,683
	16,729		Hansae Co Ltd		409
	34,480		Hansae Yes24 Holdings Co Ltd		356
	26,097		Hanssem Co Ltd		4,189
	275,132		Harman International Industries, Inc		23,235
	226,544		Hasbro, Inc		17,972
	574,400		Haseko Corp		5,525
	737,348		Hefei Meiling Co Ltd		448
	65,400	e	Heiwa Corp		1,456
	94,242	*	Helen of Troy Ltd		8,121
	23,506		Hermes International		9,570
	24,275		Himatsingka Seide Ltd		98
	347,000		Hisense Kelon Electrical Holdings Co Ltd		323
	6,116		Hitachi Home & Life Solutions India Ltd		149
	26,756	*	HLB, Inc		470
	1,890,000	*	HongDa Financial Holding Ltd		100
	47,063		Hooker Furniture Corp		1,153
	610,000	e	Hosa International Ltd		213
	273,994	*,e	Hovnanian Enterprises, Inc (Class A)		463
	31,924		Hugo Boss AG.		1,767
	152,000		Hume Industries BHD		117
	960,812		Husqvarna AB (B Shares)		8,386
	40,382		Huvis Corp		282
	10,196		Hyundai Livart Furniture Co Ltd		226
	17,362		IC Companys AS		432
	92,621	*,e	Iconix Brand Group, Inc		752
	655,953		Iida Group Holdings Co Ltd		13,200
	1,117		Ilshin Spinning Co Ltd		127
	9,222		Indo Count Industries Ltd		101
	46,117	*	Installed Building Products Inc		1,654
	61,629	*,e	iRobot Corp		2,710
	39,184	*,e	Jakks Pacific, Inc		339
	147,700		Japan Wool Textile Co Ltd		1,050
	101,965	*,e	Jimmy Choo plc		182
	178,499	*	Jinshan Development & Construction Co Ltd		174
	61,585		JM AB		1,683
	82,430		Johnson Health Tech Co Ltd		137
	14,070		Johnson Outdoors, Inc		512
	300,300		JVC KENWOOD Holdings, Inc		756
	917,374	*	Kate Spade & Co		15,715
	231,740	e	KB Home		3,736
	3,158,000		Kinpo Electronics		1,228
	10,800		Kitex Garments Ltd		71
	44,244		KMC Kuei Meng International In		153
	648,500		Konka Group Co Ltd		251
	8,332		KPR Mill Ltd		152
	388,000		Kurabo Industries Ltd		737
	808		Kyungbang Ltd		142
	12,693		LA Opala RG Ltd		101
	647,804		Lao Feng Xiang Co Ltd		2,292

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	371,274		La-Z-Boy, Inc	$	9,118
	627,776		Lealea Enterprise Co Ltd		170
	473,849	e	Leggett & Platt, Inc		21,598
	23,545		Lennar Corp (B Shares)		790
	580,152		Lennar Corp (Class A)		24,564
	115,400		LG Electronics, Inc		5,040
	17,386		LG Fashion Corp		351
	35,539	*,e	LGI Homes, Inc		1,309
	49,600		Li Cheng Enterprise Co Ltd		217
	1,228,520	*,e	Li Ning Co Ltd		846
	555,965	*	Li Peng Enterprise Co Ltd		136
	144,581		Libbey, Inc		2,581
	44,380		Lifetime Brands, Inc		597
	1,405		LPP S.A.		1,447
	265,877	*,e	Lululemon Athletica, Inc		16,213
	753,450		Luthai Textile Co Ltd		965
	138,904	e	Luxottica Group S.p.A.		6,634
	230,289		LVMH Moet Hennessy Louis Vuitton S.A.		39,267
	51,669	*	M/I Homes, Inc		1,218
	161,735		Makalot Industrial Co Ltd		777
	48,562	*	Malibu Boats Inc		724
	4,690,000	e	Man Wah Holdings Ltd		3,016
	6,442	*,m	Mariella Burani S.p.A.		0
	25,086		Marine Products Corp		225
	6,400		Mars Engineering Corp		128
	1,699,383		Matsushita Electric Industrial Co Ltd		16,996
	5,494,214		Mattel, Inc		166,365
	321,600		MC Group PCL		126
	75,658		MCBC Holdings, Inc		862
	94,439		MDC Holdings, Inc		2,437
	230,084		Merida Industry Co Ltd		1,090
	117,172	*	Meritage Homes Corp		4,066
	658,237	*	Michael Kors Holdings Ltd		30,799
	99,700		Misawa Homes Co Ltd		760
	70,000		Mitsui Home Co Ltd		328
	73,000	e	Mizuno Corp		391
	391,200	*	Mohawk Industries, Inc		78,373
	1,392,368		Moncler S.p.A		23,769
	59,199		Movado Group, Inc		1,272
	1,330,965		MRV Engenharia e Participacoes S.A.		4,887
	9,247		Nacco Industries, Inc (Class A)		628
	318,135		Namco Bandai Holdings, Inc		9,737
	35,000		Nan Liu Enterprise Co Ltd		165
	128,508	*	Nautilus, Inc		2,920
	32,948	*,e	New Home Co Inc		352
	48,489		New Wave Group AB (B Shares)		287
	1,380,349		Newell Rubbermaid, Inc		72,689
	479,129		Nien Hsing Textile Co Ltd		366
	170,000		Nien Made Enterprise Co Ltd		2,198
	3,871,723		Nike, Inc (Class B)		203,846
	50,424	e	Nikon Corp		753
	86,134		Nobia AB		818

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	38,880	*	NVR, Inc	$	63,758
	599,531		Onward Kashiyama Co Ltd		4,321
	341,167		Oriental Weavers		297
	1,511,141	g	OVS S.p.A		8,744
	43,358		Oxford Industries, Inc		2,935
	349,000	*,e,g	Ozner Water International Holding Ltd		76
	730,778	e	Pacific Textile Holdings Ltd		950
	8,908		Page Industries Ltd		2,023
	298,000	e	PanaHome Corp		2,373
	126,273		Pandora AS		15,294
	3,346	*	PDG Realty S.A.		2
	402,000	*,m	Peace Mark Holdings Ltd		0
	2,603,000		Peak Sport Products Co Ltd		848
	15,011		Pegas Nonwovens S.A.		490
	61,578	*	Perry Ellis International, Inc		1,187
	311,322		Persimmon plc		7,320
	282,677	*	Peter England Fashions and Retail Ltd		586
	342,478		Phillips-Van Heusen Corp		37,844
	50,207		PIK Group (GDR)		228
	824,800	*	Pioneer Corp		1,795
	8,104,857		Playmates Holdings Ltd		9,578
	1,608,000		Playmates Toys Ltd		248
	78,494	e	Polaris Industries, Inc		6,079
	129,293		Pool Corp		12,221
	5,805,341		Pou Chen Corp		8,203
	330,000		Prada S.p.A		1,060
	29,600	e	Pressance Corp		328
	920,000	*,e	Prime Success International Group Ltd		123
	8,236,400		PT Sri Rejeki Isman Tbk		132
	1,869,960		Pulte Homes, Inc		37,474
	172,260		Rajesh Exports Ltd		1,185
	167,003		Ralph Lauren Corp		16,891
	73,080		Raymond Ltd		588
	362,047	e	Redrow plc		1,874
	283,000	e,g	Regina Miracle International Holdings Ltd		388
	23,897		Rinnai Corp		2,225
	395,956		Ruentex Industries Ltd		639
	26,571	*	Safilo Group S.p.A.		255
	41,397	e	Salvatore Ferragamo Italia S.p.A		1,051
	51,114		Samick Musical Instruments Co Ltd		129
	906,000		Sampo Corp		509
	816,000		Samson Holding Ltd		77
	265,800	e	Samsonite International		857
	115,500		Sangetsu Co Ltd		2,241
	85,021		Sankyo Co Ltd		2,905
	311,000	e	Sanyo Shokai Ltd		515
	26,960		SEB S.A.		3,808
	609,394		Sega Sammy Holdings, Inc		8,693
	120,000	e	Seiko Holdings Corp		379
	1,022,830		Seiren Co Ltd		12,204
	436,953		Sekisui Chemical Co Ltd		6,284
	2,464,377		Sekisui House Ltd		41,985

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	101,441	*	Sequential Brands Group, Inc	$	812
	828,341		Servicios Corporativos Javer SAPI de C.V.		743
	394,500		Shanghai Haixin Group Co		339
	72,300		Shanghai Kai Kai Industrial Co Ltd		110
	479,000	*,e	Sharp Corp		635
	223,400	*	Shenzhen China Bicycle Co Holdings Ltd		146
	621,124		Shenzhou International Group Holdings Ltd		4,347
	70,245		Shimano, Inc		10,433
	1,160,000	*	Silverman Holdings Ltd		158
	15,821		Sioen Industries NV		466
	368,000	e	Sitoy Group Holdings Ltd		139
	294,335	*	Skechers U.S.A., Inc (Class A)		6,740
	5,769,843	e	Skyworth Digital Holdings Ltd		4,189
	233,941	*,e	Smith & Wesson Holding Corp		6,220
	6,762,312		Sony Corp		224,039
	269,637		Sony Corp (ADR)		8,955
	873,213	*,g	Spin Master Corp		20,839
	13,762		SRF Ltd		368
	30,800	e	SRI Sports Ltd		311
	29,000		Starts Corp, Inc		538
	4,578,866		Steinhoff International Holdings NV		26,223
	1,100,802		Steinhoff International Holdings NV (GR)		6,329
	144,369	*	Steven Madden Ltd		4,989
	81,957		Sturm Ruger & Co, Inc		4,734
	288,454		Sumitomo Forestry Co Ltd		3,861
	17,830		Superior Uniform Group, Inc		353
	6,276		Surteco SE		161
	23,872	e	Swatch Group AG.		6,767
	213,744		Swatch Group AG. (Registered)		11,901
	13,976		Symphony Ltd		239
	919,602		Tainan Spinning Co Ltd		364
	594,600		Taiwan Paiho Ltd		2,131
	68,900		Tamron Co Ltd		1,116
	1,951,298	*	Tatung Co Ltd		485
	68,434	*	Taylor Morrison Home Corp		1,204
	3,386,144		Taylor Wimpey plc		6,754
	1,762,000	e	TCL Multimedia Technology Holdings Ltd		871
	922,000		Techtronic Industries Co		3,612
	23,472	e	Ted Baker plc		750
	243,304	e	Telford Homes plc		960
	210,709	*,e	Tempur-Pedic International, Inc		11,956
	1,052,000	e	Texhong Textile Group Ltd		1,410
	1,562,000	e	Texwinca Holdings Ltd		1,082
	287,457		Thomson		1,964
	111,934	g	Thule Group AB		1,909
	238,567		Titan Industries Ltd		1,418
	10,787	e	Tod’s S.p.A.		570
	5,890		Token Corp		439
	562,892	*	Toll Brothers, Inc		16,808
	444,428	*	TomTom NV		4,252
	57,168	e	Tomy Co Ltd		603
	88,285	*	TopBuild Corp		2,931

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	58,000		Topkey Corp	$	195
	79,000		Toung Loong Textile Manufacturing		231
	399,608	*	TRI Pointe Homes, Inc		5,267
	25,927		Trigano S.A.		1,819
	279,600		TSI Holdings Co Ltd		1,626
	171,803		Tsutsumi Jewelry Co Ltd		2,856
	2,720		TTK Prestige Ltd		211
	142,241		Tupperware Corp		9,298
	21,748	*	UCP, Inc (Class A)		192
	390,768	*	Under Armour, Inc		13,231
	375,561	*,e	Under Armour, Inc (Class A)		14,527
	37,203	*	Unifi, Inc		1,095
	486,000	*,e	Unitika Ltd		280
	32,211	*	Universal Electronics, Inc		2,398
	66,500	e	Universal Entertainment Corp		1,976
	591,479	*,e,m	Urbi Desarrollos Urbanos S.A. de C.V		0	^
	4,871		VAN DE Velde		352
	35,286		Vardhman Textiles Ltd		565
	49,155	*,e	Vera Bradley, Inc		745
	76,167	*	Vestel Elektronik Sanayi		168
	797,442		VF Corp		44,697
	67,197		Videocon Industries Ltd		105
	55,182	*,e	Vince Holding Corp		311
	144,344	*	Vista Outdoor, Inc		5,754
	349,627		Wacoal Holdings Corp		3,947
	50,641	*	WCI Communities, Inc		1,201
	393,000		Weiqiao Textile Co		281
	596,961		Welspun India Ltd		472
	15,685	e	Weyco Group, Inc		421
	234,285		Whirlpool Corp		37,992
	44,400	*	Whirlpool of India Ltd		680
	54,732	*,e	William Lyon Homes, Inc		1,015
	380,506		Wolverine World Wide, Inc		8,763
	149,870		Woongjin Coway Co Ltd		13,018
	194,631		Wuxi Little Swan Co Ltd		695
	3,352,000	e	XTEP International Holdings		1,571
	220,650		Yamaha Corp		7,143
	13,700		Yondoshi Holdings, Inc		318
	9,400	e	Yonex Co Ltd		454
	20,512		Youngone Corp		693
	11,043		Youngone Holdings Co Ltd		597
	594,907		Yue Yuen Industrial Holdings		2,459
	682,000	e	Yuxing InfoTech Investment Holdings Ltd		184
	70,555	*	Zagg, Inc		571
	170,764		Zeng Hsing Industrial Co Ltd		879
	79,600		Zhonglu Co Ltd		159
	29,300	e	Zojirushi Corp		479
			TOTAL CONSUMER DURABLES & APPAREL		2,440,278
CONSUMER SERVICES - 2.0%
	22,000	*,e	500.com Ltd (ADR)		388
	442,496		888 Holdings plc		1,270

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	500,607		AA plc	$	1,910
	2,325,191	e	Accor S.A.		92,262
	54,200		Accordia Golf Co Ltd		553
	16,316,000		Accordia Golf Trust		8,076
	763,864		Advtech Ltd		921
	5,600	*,e	Aeon Fantasy Co Ltd		160
	94,826	e	Ainsworth Game Technology Ltd		164
	4,367,000		Ajisen China Holdings Ltd		2,007
	904,702		Alsea SAB de C.V.		3,069
	95,561	*,e	Amaya, Inc		1,548
	344,000		Ambassador Hotel		270
	34,508	*	American Public Education, Inc		684
	192,559	*	Apollo Group, Inc (Class A)		1,531
	2,197,422		ARAMARK Holdings Corp		83,568
	6,000	*,e	ARCLAND SERVICE Co Ltd		183
	2,975,824	*	Arcos Dorados Holdings, Inc		15,683
	363,785		Ardent Leisure Group		777
	1,486,125		Aristocrat Leisure Ltd		18,082
	81,502	*	Ascent Media Corp (Series A)		1,888
	73,200	e	Atom Corp		491
	104,014		Autogrill S.p.A.		882
	2,007,096	*	Belmond Ltd.		25,510
	54,525	e	Benesse Holdings Inc		1,393
	571,189		Berjaya Sports Toto BHD		457
	9,299		bet-at-home.com AG.		716
	95,417		Betsson AB		1,055
	54,902	*	BJ’s Restaurants, Inc		1,952
	3,576,000		Bloomberry Resorts Corp		337
	521,274		Bloomin’ Brands, Inc		8,987
	54,620		Bob Evans Farms, Inc		2,092
	24,888	*,e	Bojangles’, Inc		397
	355,835	*	Boyd Gaming Corp		7,038
	92,198	*	Bridgepoint Education, Inc		633
	158,482	*	Bright Horizons Family Solutions		10,601
	500,421	e	Brinker International, Inc		25,236
	7,300	*,e	BRONCO BILLY Co Ltd		222
	62,232	*	Buffalo Wild Wings, Inc		8,759
	146,213	*,e	Caesars Acquisition Co		1,816
	127,986	*,e	Caesars Entertainment Corp		953
	582,000	e	Cafe de Coral Holdings Ltd		1,940
	34,682	*	Cambium Learning Group, Inc		188
	72,532		Capella Education Co		4,210
	88,170	e	Cara Operations Ltd		1,854
	458,329	*	Career Education Corp		3,112
	1,480,767		Carnival Corp		72,291
	487,341		Carnival plc		23,777
	35,117	e	Carriage Services, Inc		831
	213,191	*	Carrols Restaurant Group, Inc		2,816
	53,329	*	Century Casinos, Inc		369
	105,506		Cheesecake Factory		5,282
	194,726	*,e	Chegg, Inc		1,381
	5,960,000	e	China LotSynergy Holdings Ltd		205

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	3,602,000	e	China Maple Leaf Educational Systems Ltd	$	3,343
	392,000	*	China Nuclear Energy Technology Corp Ltd		69
	2,330,000	e	China Travel International Inv HK		677
	1,600,000	*,e	China Vanguard Group Ltd		52
	157,636	*,e,n	Chipotle Mexican Grill, Inc (Class A)		66,759
	71,649		Choice Hotels International, Inc		3,230
	34,954	e	Churchill Downs, Inc		5,116
	38,667	*	Chuy’s Holdings, Inc		1,080
	18,689		Cie des Alpes		357
	61,588		City Lodge Hotels Ltd		696
	204,728		ClubCorp Holdings, Inc		2,962
	37,903	*,g	Coffee Day Enterprises Ltd		128
	18,358		Collectors Universe		340
	47,700	e	Colowide Co Ltd		871
	1,279,396		Compass Group plc		24,778
	203,064	e	Corporate Travel Management Lt		2,759
	123,577		Cox & Kings India Ltd		411
	44,362	e	Cracker Barrel Old Country Store, Inc		5,866
	37,000		Create Restaurants Holdings, Inc		377
	2,474		Credu Corp		93
	381,764		Crown Resorts Ltd		3,851
	110,744	*	Curro Holdings Ltd		357
	298,600		CVC Brasil Operadora e Agencia de Viagens S.A.		2,208
	106,902		Daekyo Co Ltd		843
	130,000		Dahan Development Corp		226
	5,500	e	Daisyo Corp		82
	124,199		Darden Restaurants, Inc		7,616
	85,905	*	Dave & Buster’s Entertainment, Inc		3,366
	73,400	*	Del Frisco’s Restaurant Group, Inc		989
	47,135	*	Del Taco Restaurants, Inc		562
	53,383		Delta Corp Ltd		135
	344,761	*	Denny’s Corp		3,685
	144,386	e	DeVry Education Group, Inc		3,330
	38,863		Dignity plc		1,412
	60,396		DineEquity, Inc		4,783
	5,603		DO & CO AG.		458
	121,106		Domino’s Pizza Enterprises Ltd		6,562
	1,306,406		Domino’s Pizza Group plc		6,325
	41,495		Domino’s Pizza, Inc		6,301
	602,775	*	Donaco International Ltd		219
	25,400		Doutor Nichires Holdings Co Ltd		467
	2,993,103	*	Dubai Parks & Resorts PJSC		1,282
	84,525	e	Dunkin Brands Group, Inc		4,402
	1,734,800		Dynam Japan Holdings Co Ltd		2,487
	144,885		EIH Ltd		240
	46,684	*,e	El Pollo Loco Holdings, Inc		588
	66,322	*,e	Eldorado Resorts, Inc		932
	380,958	g	Elior Participations S.C.A		8,723
	6,018	*	Emerson Pacific, Inc		201
	805,000		Emperor Entertainment Hotel Ltd		209
	9,070	*	Empire Resorts, Inc		184
	238,428	e	EnerCare, Inc		3,429

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	482,404	*	Enterprise Inns plc	$	581
	1,281,100		Erawan Group PCL		168
	252,700		Estacio Participacoes S.A.		1,384
	16,323	e,g	Evolution Gaming Group AB		532
	560,760		Extended Stay America, Inc		7,963
	153,638	e	Famous Brands Ltd		1,847
	86,391	*	Fiesta Restaurant Group, Inc		2,073
	90,563		First Hotel		48
	158,865	e	Flight Centre Travel Group Ltd		4,447
	490,870	*,e	Fogo De Chao, Inc		5,188
	37,990		Formosa International Hotels Corp		218
	794,000	e	Fu Shou Yuan International Group Ltd		459
	37,000	e	Fuji Kyuko Co Ltd		433
	57,000	e	Fujita Kanko, Inc		202
	287,133	e	G8 Education Ltd		671
	31,800		GAEC Educacao S.A.		121
	1,769,155		Galaxy Entertainment Group Ltd		6,728
	2,358,092		Genting BHD		4,526
	4,656,493		Genting Singapore plc		2,573
	974,000		GL Ltd		558
	964,486		Gold Reef Resorts Ltd		2,198
	23,270		Golden Entertainment, Inc		290
	63,000		Gourmet Master Co Ltd		628
	4,495		Graham Holdings Co		2,164
	103,537	*	Grand Canyon Education, Inc		4,182
	28,802		Grand Korea Leisure Co Ltd		646
	39,395	*	Great Canadian Gaming Corp		686
	253,785		Greene King plc		2,544
	310,236		GVC Holdings plc		2,984
	613,154		H&R Block, Inc		14,195
	31,811	*,e	Habit Restaurants, Inc		445
	1,152,000	*,g	Haichang Holdings Ltd		238
	8,150		Hana Tour Service, Inc		518
	10,900		Hiday Hidaka Corp		263
	935,466		Hilton Worldwide Holdings, Inc		21,450
	12,200	e	Hiramatsu Inc		72
	34,200	e	HIS Co Ltd		895
	280,500	*,e	Hoteles City Express SAB de C.V.		264
	394,559	*	Houghton Mifflin Harcourt Co		5,291
	220,275		Huangshan Tourism Development Co Ltd		330
	33,110	*,e	Hyatt Hotels Corp		1,630
	36,700	e	Ichibanya Co Ltd		1,286
	93,031		IDP Education Ltd		338
	501,228		Indian Hotels Co Ltd		984
	53,894		InterContinental Hotels Group plc		2,221
	437,069		International Game Technology plc		10,656
	113,173		International Speedway Corp (Class A)		3,782
	47,784	*	Intertain Group Ltd		393
	628,580		Interval Leisure Group, Inc		10,793
	121,213	*	Intralot S.A.-Integrated Lottery Systems & Services		142
	145,735	*	Intrawest Resorts Holdings Inc		2,364
	93,360	e	Invocare Ltd		998

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	156,684	*	Isle of Capri Casinos, Inc	$	3,491
	47,159	*	J Alexander’s Holdings, Inc		478
	162,793		Jack in the Box, Inc		15,618
	32,513	*,e	Jamba, Inc		355
	495,007		Jollibee Foods Corp		2,524
	45,510		Jubilant Foodworks Ltd		661
	327,735	*	K12, Inc		4,703
	20,595	*,e	Kambi Group plc		294
	250,226		Kangwon Land, Inc		8,941
	19,700	e	Kappa Create Co Ltd		234
	15,000	e	Kisoji Co Ltd		338
	82,000	*,e	KNT-CT Holdings Co Ltd		91
	21,079	*,e	Kona Grill, Inc		265
	5,900	e	Koshidaka Holdings Co Ltd		100
	3,274,045		Kroton Educacional S.A.		14,890
	8,200		Kura Corp		399
	12,300	e	Kyoritsu Maintenance Co Ltd		770
	394,780	*	La Quinta Holdings, Inc		4,414
	1,186,187	e	Ladbrokes plc		2,151
	1,474,888	e	Las Vegas Sands Corp		84,865
	17,262	e	Liberty Tax, Inc		221
	197,041	*,e	LifeLock, Inc		3,334
	34,170	*	Lindblad Expeditions Holdings, Inc		308
	130,000		Lion Travel Service Co Ltd		329
	49,376	*	Luby’s, Inc		212
	1,706,000	*,e	Macau Legend Development Ltd		359
	593,600		Magnum BHD		324
	21,724		Mahindra Holidays & Resorts India Ltd		146
	250,332		Mantra Group Ltd		619
	86,683		Marcus Corp		2,171
	442,123	e	Marriott International, Inc (Class A)		29,768
	72,962		Marriott Vacations Worldwide Corp		5,350
	472,351		Marston’s plc		896
	6,200		Matsuya Foods Co Ltd		193
	1,471,600		Max’s Group, Inc		871
	1,813,727		McDonald’s Corp		209,232
	50,053	e	McDonald’s Holdings Co Japan Ltd		1,474
	14,200	e	Meiko Network Japan Co Ltd		126
	3,090,103	e	Melco Crown Entertainment Ltd (ADR)		49,782
	43,565,600	*	Melco Crown Philippines Resorts Corp		3,531
	794,000	e	Melco International Development		1,051
	46,434		Melia Hotels International S.A.		579
	1,235,205	g	Merlin Entertainments plc		7,032
	895,807	e	MGM China Holdings Ltd		1,566
	4,208,268	*	MGM Resorts International		109,541
	1		Minor International PCL (ADR)		0	^
	1,807,616		Minor International PCL (Foreign)		2,042
	159,947	e	Mitchells & Butlers plc		570
	9,914		Modetour Network, Inc		260
	26,765	*	Monarch Casino & Resort, Inc		674
	51,100	e	MOS Food Services, Inc		1,626
	31,668		MPK Group, Inc		62

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	30,755	e	MTY Food Group, Inc	$	1,065
	9,911	*	Nathan’s Famous, Inc		521
	749,345		Navitas Ltd		3,006
	246,814	*	NET Holding AS		257
	196,000		New Oriental Education & Technology Group (ADR)		9,087
	158,189	*,e	NH Hoteles S.A.		722
	28,339	*,e	Noodles & Co		135
	52,907	*,e	Nord Anglia Education, Inc		1,152
	1,638,617	*	Norwegian Cruise Line Holdings Ltd		61,776
	9,900		Ohsho Food Service Corp		389
	516,262		OPAP S.A.		4,370
	8,159	*	Orascom Development Holding AG.		52
	311,200	e	Oriental Land Co Ltd		18,951
	379,400	e	Overseas Union Enterprise Ltd		486
	94,018		Paddy Power plc		10,631
	59,103	e	Pandox AB		1,035
	25,462	*,e	Panera Bread Co (Class A)		4,958
	157,628		Papa John’s International, Inc		12,429
	53,192		Paradise Co Ltd		772
	180,770	*	Penn National Gaming, Inc		2,453
	13,597	*,e	Pierre & Vacances		589
	276,811	*	Pinnacle Entertainment, Inc		3,416
	41,681	*,e	Planet Fitness, Inc		837
	17,300	e	Plenus Co Ltd		316
	104,035	*	Popeyes Louisiana Kitchen, Inc		5,528
	56,960	*,e	Potbelly Corp		708
	7,360,000		Premium Leisure Corp		156
	318,000		Prestariang BHD		173
	30,559	*	Red Lion Hotels Corp		255
	30,954	*	Red Robin Gourmet Burgers, Inc		1,391
	1,118,328	e	Red Rock Resorts, Inc		26,381
	121,280	*	Regis Corp		1,522
	3,523,929		Resorts World BHD		3,879
	114,500	e	Resorttrust, Inc		2,333
	2,046		Restaurant Brands International LP		91
	1,109,741	e	Restaurant Brands International, Inc		49,472
	315,095		Restaurant Brands International, Inc (Toronto)		14,050
	284,281		Restaurant Group plc		1,416
	377,845	e	Retail Food Group Ltd		2,022
	75,728		Rezidor Hotel Group AB		329
	14,900	e	Ringer Hut Co Ltd		346
	198,300		Round One Corp		1,345
	244,200	e	Royal Caribbean Cruises Ltd		18,303
	23,000		Royal Holdings Co Ltd		399
	142,533	*	Ruby Tuesday, Inc		356
	209,802		Ruth’s Chris Steak House, Inc		2,962
	24,200		Saizeriya Co Ltd		551
	3,422,495	e	Sands China Ltd		15,001
	81,378	*,g	Scandic Hotels Group AB		740
	122,842	*,e	Scientific Games Corp (Class A)		1,384
	156,125	e	SeaWorld Entertainment, Inc		2,105
	10,718		Seoul Auction Co Ltd		141

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	246,400	g	Ser Educacional S.A.	$	1,307
	421,446		Service Corp International		11,185
	469,545	*	ServiceMaster Global Holdings, Inc		15,814
	36,231	*,e	Shake Shack, Inc		1,256
	3,808,000	e	Shanghai Jinjiang International Hotels Group Co Ltd		1,182
	61,449		Shanghai Jinjiang International Travel Co Ltd		241
	912,120		Shangri-La Asia Ltd		1,003
	1,621		Shinsegae Food Co Ltd		228
	138,076		Six Flags Entertainment Corp		7,402
	3,377,613	e	SJM Holdings Ltd		2,503
	41,547		SkiStar AB (Series B)		671
	549,672	e	Sky City Entertainment Group Ltd		1,836
	88,200		Skylark Co Ltd		1,189
	67,263		Sodexho Alliance S.A.		8,012
	293,534		Sonic Corp		7,685
	115,485	e	Sotheby’s (Class A)		4,391
	40,769		Speedway Motorsports, Inc		728
	53,000		Spur Corp Ltd		127
	990,265		SSP Group plc		4,106
	12,800		St Marc Holdings Co Ltd		351
	644,297		Star Entertainment Grp Ltd		2,988
	5,356,931		Starbucks Corp		290,024
	2,352	*	Steak N Shake Co		1,026
	23,717	*	Strayer Education, Inc		1,107
	22,200	*	Studio Alice Co Ltd		487
	449,007		Summit Hotel Properties, Inc		5,909
	96,923		Sun International Ltd		612
	2,128,100		Ta Enterprise BHD		250
	1,082,698		Tabcorp Holdings Ltd		4,146
	83,600	*,e	TAL Education Group (ADR)		5,922
	32,100		Tarena International, Inc (ADR)		465
	1,011,972		Tattersall’s Ltd		2,844
	153,993		Texas Roadhouse, Inc (Class A)		6,010
	1,201,174	*,e	Thomas Cook Group plc		1,076
	81,408		Thomas Cook India Ltd		244
	77,300		Tokyo Dome Corp		724
	137,000	e	Tokyotokeiba Co Ltd		273
	32,000		Toridoll.corp		737
	6,000	e	Tosho Co Ltd		266
	508,000	e	Tsui Wah Holdings Ltd		95
	15,200		Tsukada Global Holdings Inc		106
	546,529		TUI AG. (DI)		7,766
	32,200	*,e	Tuniu Corp (ADR)		326
	729,008		Unibet Group plc (ADR)		6,775
	158,959		Vail Resorts, Inc		24,937
	19,900	e	Watami Co Ltd		219
	50,219	*,e	Weight Watchers International, Inc		518
	383,925		Wendy’s		4,146
	146,718	e	Wetherspoon (J.D.) plc		1,789
	68,533		Whistler Blackcomb Holdings, Inc		1,954
	58,053	e	Whitbread plc		2,946
	261,552		William Hill plc		1,032

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	394,812	e	Wingstop, Inc	$	11,568
	54,220		Wowprime Corp		209
	294,297		Wyndham Worldwide Corp		19,815
	1,248,371	e	Wynn Macau Ltd		2,084
	56,688		Wynn Resorts Ltd		5,523
	325,000		YBM Sisa.com, Inc		1,797
	27,000	e	Yomiuri Land Co Ltd		128
	53,100	e	Yoshinoya D&C Co Ltd		762
	940,425		Yum! Brands, Inc		85,400
	24,207		Zeal Network SE		856
	177,400	e	Zensho Co Ltd		3,173
	568,000		Zhuhai Holdings Investment Group Ltd		96
	693,843	*,e	Zoe’s Kitchen, Inc		15,396
			TOTAL CONSUMER SERVICES		2,254,103
DIVERSIFIED FINANCIALS - 3.2%
	1,971,924		3i Group plc		16,626
	93,875		ABC Arbitrage		675
	1,654,458	e	Aberdeen Asset Management plc		6,983
	19,257		Ackermans & Van Haaren		2,552
	154,150	*	Acom Co Ltd		727
	96,700		Aeon Credit Service M BHD		337
	1,268,948	e	AEON Financial Service Co Ltd		22,212
	137,092	*	Affiliated Managers Group, Inc		19,837
	1,389,533	*,e,m	African Bank Investments Ltd		1
	63,759		AG Mortgage Investment Trust		1,004
	91,719	e	AGF Management Ltd		352
	257,700	*,e	Aiful Corp		800
	1,121,840		AIRA Capital Co Ltd		80
	69,925		Aker ASA (A Shares)		2,410
	2,178,237		Al Waha Capital PJSC		1,143
	31,709	e	Alaris Royalty Corp		541
	685,512		Alexander Forbes Group Holdings Ltd		322
	223,239	*,e	Allied Minds plc		945
	1,058,309		Ally Financial, Inc		20,605
	52,910		Altamir Amboise		659
	121,006		Altisource Residential Corp		1,319
	1,167,289		Amanat Holdings PJSC		273
	961,877		American Capital Agency Corp		18,795
	1,600,544		American Express Co		102,499
	1,304,883		Ameriprise Financial, Inc		130,188
	3,546,321		AMP Ltd		14,417
	499,233	g	Amundi S.A.		26,072
	1,615,007	g	Anima Holding S.p.A		7,884
	2,599,045	e	Annaly Capital Management, Inc		27,290
	220,758		Anworth Mortgage Asset Corp		1,086
	199,216	e	Apollo Commercial Real Estate Finance, Inc		3,261
	1,077,686	e	ARA Asset Management Ltd		1,069
	126,973		Ares Commercial Real Estate Corp		1,600
	49,119	e	Arlington Asset Investment Corp (Class A)		726
	87,175	e	ARMOUR Residential REIT, Inc		1,965
	319,821		Arrow Global Group plc		1,221

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	84,218		Artisan Partners Asset Management, Inc	$	2,291
	1,130,222	e	Ashmore Group plc		5,173
	12,981	*,m	Asia Pacific Investment Partners Limited		81
	1,047,600		Asia Plus Group Holdings PCL		101
	11,718		Associated Capital Group, Inc		416
	86,946		Aurelius AG.		5,494
	400,958		Australian Stock Exchange Ltd		14,855
	19,683	e	Avanza AB		778
	357,701		Ayala Corp		6,338
	2,215	*,m	Ayala Corp Preferred		0	^
	94,110		Azimut Holding S.p.A.		1,385
	22,191	e	B. Riley Financial, Inc		296
	184,577		Bajaj Finance Ltd		2,931
	47,543		Banca Generali S.p.A		913
	84,723		Banca IFIS S.p.A.		1,910
	211,999		Banca Mediolanum S.p.A		1,406
	3,250,025		Bank of New York Mellon Corp		129,611
	7,709	*,e	BBX Capital Corp		159
	517,198		BGC Partners, Inc (Class A)		4,525
	55,440	e	BinckBank NV		316
	157,008		BlackRock, Inc		56,909
	138,736	e	Blackstone Mortgage Trust, Inc		4,086
	3,319,253		BM&F Bovespa S.A.		17,157
	1,141,400	e	Bolsa Mexicana de Valores S.A. de C.V.		1,818
	61,944	e	Bolsas y Mercados Espanoles		1,841
	846,684	*,e	Brait S.A.		6,810
	284,985		Brewin Dolphin Holdings plc		974
	3,074,000		Bright Smart Securities & Commodities Group Ltd		1,341
	408,882	e	BT Investment Management Ltd		2,806
	173,039		Bure Equity AB		2,033
	648,600		Bursa Malaysia BHD		1,383
	70,782		Calamos Asset Management, Inc (Class A)		483
	50,986	e	Callidus Capital Corp		649
	83,114		Canaccord Financial, Inc		298
	23,862		Capital First Ltd		249
	800,086		Capital One Financial Corp		57,470
	1,513,000		Capital Securities Corp		395
	223,993		Capstead Mortgage Corp		2,112
	237,451	e	CBOE Holdings, Inc		15,399
	91,441		Cembra Money Bank AG.		7,173
	3,277,000	e	Central China Securities Co Ltd		1,542
	37,401		Century Leasing System, Inc		1,359
	159,798		Cerved Information Solutions S.p.A		1,350
	254,564		CETIP S.A.-Balcao Organizado de Ativos e Derivativos		3,356
	1,276,123		Chailease Holding Co Ltd		2,273
	757,297		Challenger Financial Services Group Ltd		5,930
	1,788,704		Charles Schwab Corp		56,469
	560,878		Chimera Investment Corp		8,946
	874,000		China Bills Finance Corp		350
	11,201,105		China Cinda Asset Management Co Ltd		3,989
	1,975,125	e	China Everbright Ltd		4,073
	3,190,000	*	China Financial International Investments Ltd		192

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	11,443,045		China Galaxy Securities Co Ltd	$	10,525
	10,044,000	*	China Innovative Finance Group Ltd		1,090
	1,000,000	*,e	China International Capital Corp Ltd		1,376
	16,540,000	e	China LNG Group Ltd		465
	112,665		China Merchants China Direct Investments Ltd		167
	473,695	e	CI Financial Corp		9,088
	1,166,272	*	Citadel Capital Corp		110
	3,227,915	e	CITIC Securities Co Ltd		6,923
	5,009,957		ClearView Wealth Ltd		4,064
	405,957		Close Brothers Group plc		7,200
	176,886	g	CMC Markets plc		452
	999,258		CME Group, Inc		104,442
	190,464		Coface S.A.		1,380
	49,510		Cohen & Steers, Inc		2,117
	444,586		Colony Financial, Inc		8,105
	239,444		Coronation Fund Managers Ltd		1,226
	15,656		Corp Financiera Alba		659
	24,167	*	Corp Financiera Colombiana S.A.		317
	212,317	*,e	Cowen Group, Inc		771
	68,746	*,e	Credit Acceptance Corp		13,823
	27,262		Credit Analysis & Research Ltd		557
	14,188,000	*,e	Credit China Holdings Ltd		1,793
	139,654	e	Credit Corp Group Ltd		1,999
	115,164		Credit Saison Co Ltd		1,912
	966,284		Credit Suisse Group		12,699
	197,051	e	Credito Real SAB de C.V.		339
	28,758		CRISIL Ltd		965
	354,106		CYS Investments, Inc		3,088
	219,978		Daewoo Securities Co Ltd		1,575
	126,408		Daishin Securities Co Ltd		1,213
	21,344		Daishin Securities Co Ltd PF		149
	2,911,160		Daiwa Securities Group, Inc		16,391
	13,248		Daou Data Corp		146
	89,372		DeA Capital S.p.A.		105
	1,150,858	*	Deutsche Bank AG.		14,999
	12,849	*	Deutsche Beteiligungs AG.		427
	811,014	*	Deutsche Boerse AG. (Tender)		65,829
	9,774		Diamond Hill Investment Group, Inc		1,806
	1,160,000	*,e	Differ Group Holding Co Ltd		97
	931,038		Discover Financial Services		52,650
	2,714,718		Dubai Financial Market		966
	57,483	*,e	Dundee Corp		296
	100,207	e	Dynex Capital, Inc		744
	2,466,055	*	E*TRADE Financial Corp		71,812
	329,375		Eaton Vance Corp		12,862
	504,265		Eclipx Group Ltd		1,575
	1,202,622		Edelweiss Capital Ltd		2,060
	7,025	e	EFG Financial Products Holding AG.		381
	48,577	e	EFG International		239
	399,221	*	Egyptian Financial Group-Hermes Holding		561
	273,801	e	Element Financial Corp		3,427
	17,892,000		Emperor Capital Group Ltd		1,861

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	54,597	*,e	Encore Capital Group, Inc	$	1,227
	64,308	*	Enova International, Inc		622
	65,632	*	Eugene Investment & Securities Co Ltd		160
	15,725		Eurazeo		912
	1,214,230	g	Euronext NV		51,810
	207,001		Evercore Partners, Inc (Class A)		10,663
	106,996		Exor S.p.A.		4,332
	237,124	*	Ezcorp, Inc (Class A)		2,623
	115,502		Factset Research Systems, Inc		18,723
	4,843,276		Far East Horizon Ltd		4,607
	12,751		FBR & Co		169
	1,458,000	*	FDG Kinetic Ltd		253
	361,742		Federated Investors, Inc (Class B)		10,718
	7,539	e	Ferratum Oyj		151
	31,225		Fiera Capital Corp		290
	127,291	e	Financial Engines, Inc		3,782
	213,100	e	Financial Products Group Co Ltd		1,982
	2,744,785		First Pacific Co		1,961
	151,317		FirstCash, Inc		7,124
	7,990,134	e	FirstRand Ltd		27,683
	220,371		FlexiGroup Ltd		393
	251,684	g	Flow Traders		7,646
	198,079	*	FNFV Group		2,472
	657,728		Franklin Resources, Inc		23,395
	6,680,000	*	Freeman Financial Corp Ltd		494
	17,680,461		Fubon Financial Holding Co Ltd		26,271
	25,510,242		Fuhwa Financial Holdings Co Ltd		9,150
	14,300		Fuyo General Lease Co Ltd		711
	87,575		Gain Capital Holdings, Inc		541
	31,043		GAMCO Investors, Inc (Class A)		884
	1,231,562	e	Gentera SAB de C.V.		2,217
	3,659,400	e	GF Securities Co Ltd		7,801
	22,178		Gimv NV		1,178
	63,215	e	Gluskin Sheff + Associates, Inc		768
	1,552,730		Goldman Sachs Group, Inc		250,409
	1,410,000	*	Good Resources Holdings Ltd		79
	71,907		Great Ajax Corp		982
	286,313	*	Green Dot Corp		6,602
	62,343		Greenhill & Co, Inc		1,469
	8,338		GRENKELEASING AG.		1,603
	363,300		Group Lease PCL		368
	99,333		Groupe Bruxelles Lambert S.A.		8,817
	430,090		Grupo de Inversiones Suramericana S.A.		5,612
	214,730		Grupo de Inversiones Suramericana S.A. (Preference)		2,778
	120,405		GT Capital Holdings, Inc		3,589
	796,497	*	Gulf General Investment Co		114
	382,500	e	Guolian Securities Co Ltd		206
	8,626,800	e	Guotai Junan International Hol		3,306
	1,034,441		Haci Omer Sabanci Holding AS		3,200
	5,509,362		Haitong Securities Co Ltd		9,420
	21,311		Hankook Tire Worldwide Co Ltd		445
	92,932		Hannon Armstrong Sustainable Infrastructure Capital, Inc		2,172

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	119,055		Hanwha Securities Co	$	253
	234,948		Hargreaves Lansdown plc		3,869
	56,049		Hellenic Exchanges S.A.		259
	2,832,940		Henderson Group plc		8,504
	7,002		Hennessy Advisors, Inc		248
	1,485,100	e	Hitachi Capital Corp		31,576
	15,702		HMC Investment Securities Co Ltd		146
	89,089	g	Hoist Finance AB		857
	846,352	e	Hong Kong Exchanges and Clearing Ltd		22,399
	60,161		Houlihan Lokey, Inc		1,507
	2,863,400	e,g	Huatai Securities Co Ltd		5,848
	2,687	*,e	Hypoport AG.		254
	351,991		Hyundai Securities Co		2,302
	35,600		IBJ Leasing Co Ltd		717
	1,390,540		ICAP plc		8,374
	810,700	e	Ichigo Holdings Co Ltd		3,596
	29,800		Ichiyoshi Securities Co Ltd		227
	1,703,020		IFCI Ltd		675
	956,097		IG Group Holdings plc		10,788
	286,683	e	IGM Financial, Inc		7,740
	199,243		India Infoline Ltd		817
	445,376		Indiabulls Housing Finance Ltd		5,548
	18,736		Indiabulls Securities Ltd		7
	39,665		Industrivarden AB		734
	188,892		Infrastructure Development Finance Co Ltd		191
	167,259		Interactive Brokers Group, Inc (Class A)		5,899
	257,877		IntercontinentalExchange Group, Inc		69,462
	227,152		Intermediate Capital Group plc		1,734
	612,141		International Personal Finance plc		2,063
	46,134	*,g	Intertrust NV		1,107
	35,551	*	INTL FCStone, Inc		1,381
	59,091		Inversiones La Construccion S.A.		679
	487,390		Invesco Ltd		15,241
	265,189		Invesco Mortgage Capital, Inc		4,039
	278,251		Investec Ltd		1,708
	770,107	e	Investec plc		4,694
	83,880		Investment AB Kinnevik (B Shares)		2,139
	70,880		Investment AB Oresund		1,213
	93,001		Investment Technology Group, Inc		1,594
	355,181		Investor AB (B Shares)		12,987
	292,446	e	IOOF Holdings Ltd		1,950
	190,533	e	iShares MSCI Canada Index Fund		4,895
	1,033,280	e	iShares MSCI EAFE Index Fund		61,098
	564,724		iShares MSCI Emerging Markets		21,149
	159,141	*,e	iStar Financial, Inc		1,708
	11,600	e	Iwai Securities Co Ltd		101
	57,000	e	J Trust Co Ltd		448
	514,000		Jaccs Co Ltd		1,974
	141,017	*	Jafco Co Ltd		4,143
	547,046	e	Janus Capital Group, Inc		7,664
	1,526,100		Japan Securities Finance Co Ltd		6,607
	1,806,127		Jih Sun Financial Holdings Co Ltd		378

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	205,581		JM Financial Ltd	$	200
	222,218		JSE Ltd		2,590
	223,010		Julius Baer Group Ltd		9,090
	134,723		Julius Baer Holding AG.		1,291
	1,400,686		Jupiter Investment Management Group Ltd		7,722
	214,800		k1 Ventures Ltd		154
	1,278,000		kabu.com Securities Co Ltd		4,303
	28,928		KBC Ancora		1,061
	198,200	*	KCG Holdings, Inc		3,078
	10,376		KIWOOM Securities Co Ltd		678
	44,747		Korea Investment Holdings Co Ltd		1,667
	23,633		KRUK S.A.		1,471
	481,600		Krungthai Card PCL		2,057
	46,166		Kyobo Securities Co		392
	16,900		Kyokuto Securities Co Ltd		217
	903,348		L&T Finance Holdings Ltd		1,246
	92,081		Ladder Capital Corp		1,219
	309,607	*,e	Ladenburg Thalmann Financial Services, Inc		715
	792,890		Lazard Ltd (Class A)		28,829
	297,437		Legg Mason, Inc		9,958
	764,643	*,e	LendingClub Corp		4,725
	844,453		Leucadia National Corp		16,078
	937,839		London Stock Exchange Group plc		33,985
	294,928	e	LPL Financial Holdings, Inc		8,821
	94,027		Lundbergs AB (B Shares)		6,179
	508,004		Macquarie Group Ltd		32,128
	258,598		Magellan Financial Group Ltd		4,320
	298,187		Mahindra & Mahindra Financial Services Ltd		1,635
	18,805,389		Man Group plc		27,395
	854,973		Manappuram General Finance & Leasing Ltd		1,178
	28,036	*	Manning & Napier, Inc		199
	75,674		MarketAxess Holdings, Inc		12,531
	22,394		Marlin Business Services Corp		434
	43,000	*	Marusan Securities Co Ltd		356
	5,180,000	*	Mason Financial Holdings Ltd		178
	912,401		Masterlink Securities Corp		243
	376,800	e	Matsui Securities Co Ltd		3,082
	19,356	e	Medley Management, Inc		163
	39,530		Meritz finance Holdings Co Ltd		424
	975,050		Meritz Securities Co Ltd		3,006
	34,611,006		Metro Pacific Investments Corp		5,073
	950,035		MFA Mortgage Investments, Inc		7,106
	162,000		MIN XIN Holdings Ltd		170
	83,746		Mirae Asset Securities Co Ltd		1,748
	1,647,454		Mitsubishi UFJ Lease & Finance Co Ltd		7,560
	53,955		MLP AG.		227
	111,129		Moelis & Co		2,988
	1,001,700	e	Monex Beans Holdings, Inc		2,357
	441,784		Moody’s Corp		47,836
	6,648,139		Morgan Stanley		213,139
	89,248		Morningstar, Inc		7,075
	30,163		Motilal Oswal Financial Services Ltd		215

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	233,277		MSCI, Inc (Class A)	$	19,581
	167,543	*	MTGE Investment Corp		2,880
	462,000		Muangthai Leasing PCL		247
	163,826		Muthoot Finance Ltd		860
	290,948		NASDAQ OMX Group, Inc		19,651
	1,107,733		Navient Corp		16,029
	103,486		Nelnet, Inc (Class A)		4,178
	771,229		New Residential Investment Corp		10,651
	256,102	e	New York Mortgage Trust, Inc		1,542
	58,664	*	NewStar Financial, Inc		570
	14,128		NICE Holdings Co Ltd		235
	29,994		NICE Information Service Co Ltd		222
	83,200		Nihon M&A Center, Inc		2,578
	22,500	*,e	Noah Holdings Ltd (ADR)		587
	2,545,639		Nomura Holdings, Inc		11,408
	68,982	e	Nordnet AB (Series B)		227
	220,368		Northern Trust Corp		14,983
	381,825		NorthStar Asset Management Group, Inc		4,937
	3,417,866	e	NZX Ltd		2,638
	71,000		Oaktree Capital Group LLC		3,010
	116,000		Okasan Holdings, Inc		597
	384,673		OM Asset Management plc		5,351
	150,441	*,e	On Deck Capital, Inc		858
	156,078	*,e	OneMain Holdings, Inc		4,831
	65,450		Onex Corp		4,215
	26,483		Oppenheimer Holdings, Inc		378
	49,861	e	Orchid Island Capital, Inc		520
	395,100	*,e	Orient Corp		756
	2,956,970		ORIX Corp		43,623
	1,135,100		Osaka Securities Exchange Co Ltd		17,748
	611,375		OSK Holdings BHD		233
	24,329	e	Owens Realty Mortgage, Inc		421
	261,367	e	OzForex Group Ltd		381
	91,477		P2P Global Investments plc		996
	12,315		Pargesa Holding S.A.		844
	10,836		Partners Group		5,475
	158,954		PennyMac Mortgage Investment Trust		2,476
	512,910		Peregrine Holdings Ltd		1,069
	517,000	*,m	Peregrine Investment Holdings		0
	153,508		Perpetual Trustees Australia Ltd		5,518
	49,329	*	Pico Holdings, Inc		582
	298,200	*	Pioneers Holding		312
	51,772	*	Piper Jaffray Cos		2,501
	40,476	e	PJT Partners, Inc		1,104
	690,923	e	Platinum Asset Mangement Ltd		2,674
	246,931		Plus500 Ltd		2,118
	1,314,502		Power Finance Corp Ltd		2,382
	107,618	*,e	PRA Group, Inc		3,717
	1,083,289		President Securities Corp		398
	115,941	e	Provident Financial plc		4,552
	110,174		PSG Group Ltd		1,613
	128,527		PTC India Financial Services Ltd		72

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,741		Pzena Investment Management, Inc (Class A)	$	622
	12,203		Qatar Industrial Manufacturing Co		141
	582,057	e	Ratos AB (B Shares)		2,763
	320,113		Raymond James Financial, Inc		18,634
	225,093		Redwood Trust, Inc		3,187
	25,336	*	Regional Management Corp		549
	404,530		Reliance Capital Ltd		3,335
	566,492		Remgro Ltd		9,480
	48,338		Repco Home Finance Ltd		594
	70,743	e	Resource Capital Corp		906
	28,000	e	Ricoh Leasing Co Ltd		775
	1,367,038	e	RMB Holdings Ltd		5,833
	321,412	*,m	Rural Electrification Corp Ltd		582
	321,412		Rural Electrification Corp Ltd		582
	865,110		S&P Global, Inc		109,488
	82,853	*,e	Safeguard Scientifics, Inc		1,074
	79,591		Salam International Investment Co		243
	94,507		Samsung Card Co		4,317
	66,855		Samsung Securities Co Ltd		2,118
	500,581	*	Santander Consumer USA Holdings, Inc		6,087
	270,100	*,e	Sawada Holdings Co Ltd		2,710
	46,244		SBI Holdings, Inc		552
	39,470		Schroders plc		1,378
	389,136		SEI Investments Co		17,748
	5	*,m	SFCG Co Ltd		0
	350,000		Shenyin Wanguo HK Ltd		185
	9,857		Shinyoung Securities Co Ltd		443
	216,874		Shriram Transport Finance Co Ltd		3,792
	15,892	e	Silvercrest Asset Management Group, Inc		189
	540,000	*	Simsen International Corp Ltd		133
	1,633,156		Singapore Exchange Ltd		8,908
	11,065		Sixt Leasing AG.		253
	262,511	*	SK Securities Co Ltd		277
	90,043	*	SKS Microfinance Pvt Ltd		1,195
	1,274,943	*	SLM Corp		9,524
	768,475	*,e,m	SNS Reaal		9
	7,968		Societe Fonciere Financiere et de Participations FFP		600
	15,824		Sofina S.A.		2,261
	70,000	e	Sparx Group Co Ltd		126
	9,200	e	SPDR Trust Series 1		1,990
	155,717		Sprott, Inc		287
	126,832		SREI Infrastructure Finance Ltd		131
	430,461		Srisawad Power 1979 PCL		449
	612,559	e	Starwood Property Trust, Inc		13,795
	1,519,653		State Street Corp		105,813
	153,414	*	Stifel Financial Corp		5,899
	4,989,000		Sun Hung Kai & Co Ltd		3,134
	38,117		Sundaram Finance Ltd		762
	129,138	*	SVG Capital plc		1,136
	7,695		Swissquote Group Holding S.A.		218
	3,531,673		Synchrony Financial		98,887
	284,009		T Rowe Price Group, Inc		18,887

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,625,977	e	Tai Fook Securities Group Ltd	$	2,434
	265,000		Taiwan Acceptance Corp		604
	170,000	*	Takagi Securities Co Ltd		215
	68,408		Tamburi Investment Partners S.p.A.		276
	14,411		Tata Investment Corp Ltd		131
	322,131		TD Ameritrade Holding Corp		11,352
	370,015		Thomson Corp (Toronto)		15,300
	78,192		Tiptree Financial, Inc		464
	69,165		TMX Group Ltd		3,176
	274,680	e	Tokai Tokyo Securities Co Ltd		1,332
	96,220	*	Tong Yang Investment Bank		294
	281,021		Transaction Capital Ltd		261
	199,672		Tullett Prebon plc		863
	949,595		Two Harbors Investment Corp		8,100
	3,433,832		UBS AG.		46,908
	1,997,800	e	Unifin Financiera SAPI de C.V. SOFOM ENR		6,029
	76,104	e,m	United Development Funding IV		244
	1,071,687		UOB-Kay Hian Holdings Ltd		1,030
	116,908	*	Uranium Participation Corp		349
	2,516	e	Value Line, Inc		41
	3,237,000	e	Value Partners Group Ltd		3,354
	23,845		Verusa Holding AS.		116
	58,116		Virtu Financial, Inc		870
	14,504	e	Virtus Investment Partners, Inc		1,419
	53,983		Vontobel Holding AG.		2,684
	241,380		Voya Financial, Inc		6,957
	2,287		VZ Holding AG.		642
	232,656		Waddell & Reed Financial, Inc (Class A)		4,225
	57,168		Warsaw Stock Exchange		559
	3,323,952		Waterland Financial Holdings		853
	26,369		Wendel		3,077
	97,604	e	Western Asset Mortgage Capital Corp		1,017
	23,597		Westwood Holdings Group, Inc		1,253
	2,598	*,e	Wins Finance Holdings, Inc		77
	335,375	e	WisdomTree Investments, Inc		3,451
	10,694		Woori Financial Co Ltd		257
	159,042		Woori Investment & Securities Co Ltd		1,453
	13,389	*,e	World Acceptance Corp		657
	1,414,595	e	Zeder Investments Ltd		755
	67,600		Zenkoku Hosho Co Ltd		2,805
			TOTAL DIVERSIFIED FINANCIALS		3,603,554
ENERGY - 6.8%
	301,391	*	Abraxas Petroleum Corp		509
	6,154		Adams Resources & Energy, Inc		242
	46,174,104		Adaro Energy Tbk		4,285
	170,671	*	Advantage Oil & Gas Ltd		1,197
	66,930		Aegis Logistics Ltd		155
	127,869	*,e	Akastor ASA		136
	125,228		Aker Solutions ASA		588
	79,839		Alon USA Energy, Inc		643
	154,266	e	AltaGas Income Trust		3,967

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,203,965		AMEC plc	$	8,931
	695,572	*,e	Amerisur Resources plc		221
	1,249,229		Anadarko Petroleum Corp		79,151
	246,845	*	Antero Resources Corp		6,652
	1,094,000	*,e	Anton Oilfield Services Group		103
	1,648,106		Apache Corp		105,265
	1,237,026	e	ARC Resources Ltd		22,375
	271,050		Archrock, Inc		3,545
	152,231	e	Ardmore Shipping Corp		1,072
	741,268	*	Athabasca Oil Corp		729
	176,807	e	Atwood Oceanics, Inc		1,536
	457,807	*,e	Australian Worldwide Exploration Ltd		221
	9,205	e,g	Avance Gas Holding Ltd		22
	1,967,881		Baker Hughes, Inc		99,319
	1,923,700		Bangchak Petroleum PCL-Foreign		1,700
	212,375	*,e	Bankers Petroleum Ltd		356
	3,707,910		Banpu PCL (Foreign)		1,685
	703,658	*,e	Baytex Energy Trust		2,987
	6,124,643		Beach Petroleum Ltd		3,134
	150,045	*,e	Bellatrix Exploration Ltd		129
	564,679		Bharat Petroleum Corp Ltd		5,203
	127,481	*,e	Bill Barrett Corp		709
	210,015	*	Birchcliff Energy Ltd		1,470
	963,757	e	Bonavista Energy Trust		3,100
	71,043		Bonterra Oil & Gas Ltd		1,408
	21,766	e	Bourbon S.A.		254
	652,141		Boustead Singapore Ltd		387
	22,836,050		BP plc		133,105
	738,885	e	BP plc (ADR)		25,979
	3,789,000	e	Brightoil Petroleum Holdings Ltd		1,144
	76,445	e	Bristow Group, Inc		1,072
	2,022,500		Bumi Armada BHD		343
	52,157	e,g	BW LPG Ltd		149
	947,239		Cabot Oil & Gas Corp		24,439
	473,373	*	Cairn Energy plc		1,153
	1,081,526		Cairn India Ltd		3,267
	76,744	*,e	California Resources Corp		959
	1,453,922	*	Callon Petroleum Co		22,827
	579,672		Caltex Australia Ltd		15,326
	206,603	e	Cameco Corp (Toronto)		1,765
	303,608	*	Canacol Energy Ltd		1,000
	193,972	e	Canadian Energy Services & Technology Corp		767
	2,016,501		Canadian Natural Resources Ltd (Canada)		64,463
	66,139	e	Canyon Services Group, Inc		253
	46,506	e	CARBO Ceramics, Inc		509
	234,978	e	Cardinal Energy Ltd		1,540
	186,868	*,e	Carrizo Oil & Gas, Inc		7,591
	750,138		Cenovus Energy, Inc		10,779
	2,627,033		Cenovus Energy, Inc (Toronto)		37,705
	16,339	*,e	CGG S.A.		422
	484,409	*	Cheniere Energy, Inc		21,120
	30,040		Chennai Petroleum Corp Ltd		130

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,535,914	*,e	Chesapeake Energy Corp	$	9,630
	5,897,197	e	Chevron Corp		606,939
	3,846,419	e	China Coal Energy Co		2,094
	2,429,826	e	China Oilfield Services Ltd		2,131
	8,503,295		China Shenhua Energy Co Ltd		16,807
	1,567,000	e	China Suntien Green Energy Cor		218
	353,009		Cimarex Energy Co		47,434
	12,617	*,e	Clayton Williams Energy, Inc		1,078
	1,131,310	*,e	Clean Energy Fuels Corp		5,057
	34,600,546	e	CNOOC Ltd		43,649
	1,489,038		Coal India Ltd		7,215
	943,637	*,e	Cobalt International Energy, Inc		1,170
	2,476,675	*	Concho Resources, Inc		340,171
	1,792,279		ConocoPhillips		77,910
	648,479	e	Consol Energy, Inc		12,451
	144,319	*	Contango Oil & Gas Co		1,475
	2,124,776	*,e	Continental Resources, Inc		110,403
	11,931	e	Core Laboratories NV		1,340
	464,228		Cosan SA Industria e Comercio		5,383
	118,000		Cosmo Energy Holdings Co Ltd		1,487
	554,144	e	Crescent Point Energy Corp		7,307
	122,483	*,e	Crew Energy, Inc		640
	38,123	e	CVR Energy, Inc		525
	3,013,634	*	Dana Gas PJSC		442
	69,253	*	Dawson Geophysical Co		528
	259,350		Dayang Enterprise Holdings BHD		63
	3,556		Delek Group Ltd		739
	289,045		Delek US Holdings, Inc		4,998
	1,099,262	*,e	Denbury Resources, Inc		3,551
	421,121	*	Denison Mines Corp		196
	1,422,348	*,e	Det Norske Oljeselskap ASA		22,690
	881,162		Devon Energy Corp		38,868
	538,947	e	DHT Holdings, Inc		2,258
	239,483	e	Diamond Offshore Drilling, Inc		4,217
	1,080,374	*	Diamondback Energy, Inc		104,299
	520,961	*	DNO International ASA		532
	61,596	*,e	Dorian LPG Ltd		370
	104,955	*	Dril-Quip, Inc		5,850
	3,752	*	Earthstone Energy, Inc		32
	294,100	*,e	Eclipse Resources Corp		968
	7,693,945		Ecopetrol S.A.		3,335
	821,821		Empresas COPEC S.A.		7,686
	286,609	e	Enbridge Income Fund		7,428
	1,280,396		Enbridge, Inc		56,273
	1,289,152		EnCana Corp		13,472
	63,220		Enerflex Ltd		678
	504,870		Energen Corp		29,141
	1,246,314		Energy Absolute PCL (Foreign)		929
	1,168,600		Energy Earth PCL		154
	1,053,134	*,e	Energy Resources of Australia Ltd		270
	695,402	e	Enerplus Resources Fund		4,463
	3,026,951	e	ENI S.p.A.		43,619

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,287,034	*,e	Enquest plc (London)	$	1,486
	866,516		Ensco plc		7,365
	249,372		Ensign Energy Services, Inc		1,426
	4,958,722	e	EOG Resources, Inc		479,558
	483,138	*,e	EP Energy Corp		2,116
	320,176		EQT Corp		23,251
	40,541	*	Era Group, Inc		326
	49,105	*,e	Erin Energy Corp		115
	2,233	*	Esso SA Francaise		88
	2,696,500	*	Esso Thailand PCL (Foreign)		460
	110,160	*,e	Etablissements Maurel et Prom		513
	505,422		Euronav NV		3,872
	64,838	e	Evolution Petroleum Corp		407
	25,838		Exmar NV		204
	180,150	*	Exterran Corp		2,825
	244,110	e	Exxaro Resources Ltd		1,501
	10,484,764	d	Exxon Mobil Corp		915,110
	1,357,797	e	Ezion Holdings Ltd		276
	356,363	*,e	Fairmount Santrol Holdings, Inc		3,022
	186,411	*	Faroe Petroleum plc		172
	648,409	*	FMC Technologies, Inc		19,238
	3,929,825		Formosa Petrochemical Corp		11,847
	140,675	*	Forum Energy Technologies, Inc		2,794
	126,140	e	Frank’s International NV		1,640
	211,200	*,e	Fred Olsen Energy ASA		295
	75,224	e	Freehold Royalty Trust		725
	188,677	e	Frontline Ltd		1,353
	117,328	e	Frontline Ltd (Sigmax MTF)		851
	50,363	*,e	Fugro NV		815
	1,200,618		Galp Energia SGPS S.A.		16,403
	98,492	e	GasLog Ltd		1,433
	10,174,395		Gazprom OAO (ADR)		42,888
	104,440		Gazpromneft OAO (ADR)		1,460
	18,094	e	Gaztransport Et Technigaz S.A.		522
	97,445	*,e	Gener8 Maritime, Inc		499
	7,225,000	*,e	Genesis Energy Holdings Ltd		180
	32,532	*,e	Geospace Technologies Corp		634
	116,296	e	Gibson Energy, Inc		1,564
	266,431	e	Golar LNG Ltd		5,648
	60,000	*,e	Gran Tierra Energy, Inc		181
	116,704		Great Eastern Shipping Co Ltd		618
	120,969	e	Green Plains Renewable Energy, Inc		3,169
	197,683	*	Grupa Lotos S.A.		1,472
	118,020		GS Holdings Corp		5,770
	131,044		Gujarat Mineral Development Corp Ltd		166
	40,995		Gulf International Services OSC		390
	264,170	*	Gulfport Energy Corp		7,463
	2,317,824		Halliburton Co		104,024
	493		Hankook Shell Oil Co Ltd		201
	329,521	*	Helix Energy Solutions Group, Inc		2,679
	43,773	*	Hellenic Petroleum S.A.		195
	262,660	e	Helmerich & Payne, Inc		17,677

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	579,649		Hess Corp	$	31,081
	601,000	e	Hilong Holding Ltd		90
	86,778	e	Hoegh LNG Holdings Ltd		932
	290,931		HollyFrontier Corp		7,128
	76,979	*,e	Hornbeck Offshore Services, Inc		423
	104,936		Hunting plc		625
	640,224		Husky Energy, Inc		7,842
	100,394		Idemitsu Kosan Co Ltd		2,079
	262,622		Imperial Oil Ltd		8,215
	252,233	*,e	Independence Contract Drilling, Inc		1,324
	938,900		Inner Mongolia Yitai Coal Co		861
	1,440,002		Inpex Holdings, Inc		13,093
	916,166		Inter Pipeline Ltd		19,344
	18,872,107		IRPC PCL (Foreign)		2,666
	1,830	*,e	Isramco, Inc		153
	128,953		Itochu Enex Co Ltd		993
	3,800	e	Japan Drilling Co Ltd		90
	42,800		Japan Petroleum Exploration Co		948
	10,190	*	Jerusalem Oil Exploration		456
	459,952		John Wood Group plc		4,527
	68,154	*,e	Jones Energy, Inc (Class A)		243
	2,775,948		JX Holdings, Inc		11,236
	181,148	*,e	Karoon Gas Australia Ltd		187
	125,758	*,e	Kelt Exploration Ltd		555
	354,801	e	Keyera Corp		11,472
	6,271,939		Kinder Morgan, Inc		145,070
	1,778,024	*	KNM Group BHD		175
	130,751		Koninklijke Vopak NV		6,857
	230,351	*,e	Kosmos Energy LLC		1,477
	476,101	*	Laredo Petroleum Holdings, Inc		6,142
	416,646	*,e	Liquefied Natural Gas Ltd		207
	11,677		Lubelski Wegiel Bogdanka S.A.		174
	722,464		LUKOIL PJSC (ADR)		35,229
	455,985	*	Lundin Petroleum AB		8,346
	302,300	*	Malaysia Marine and Heavy Engineering Sdn BHD		74
	2,076,854	e	Marathon Oil Corp		32,835
	854,439		Marathon Petroleum Corp		34,682
	2,602,950	*,e	Matador Resources Co		63,356
	111,981	*	Matrix Service Co		2,101
	1,278,239	*,e	McDermott International, Inc		6,404
	2,504,355	*,e	MEG Energy Corp		11,320
	848,000	*,e	MIE Holdings Corp		85
	29,200		Modec, Inc		521
	112,028		MOL Hungarian Oil and Gas plc		6,940
	159,928		Motor Oil Hellas Corinth Refineries S.A.		1,797
	217,130		Mullen Group Ltd		2,724
	326,970	e	Murphy Oil Corp		9,940
	1,797,046		Nabors Industries Ltd		21,852
	20,304	*	Naphtha Israel Petroleum Corp Ltd		115
	977,553	e	National Oilwell Varco, Inc		35,915
	36,526	*	Natural Gas Services Group, Inc		898
	487,262	e	Navios Maritime Acq Corp		658

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	479,510		Neste Oil Oyj	$	20,454
	247,482		New Zealand Refining Co Ltd		442
	1,519,929	*	Newfield Exploration Co		66,056
	16,970,000	e	Newocean Energy Holdings Ltd		4,573
	340,464	*	Newpark Resources, Inc		2,506
	53,600		Nippon Gas Co Ltd		1,673
	661,820	e	Noble Corp plc		4,196
	667,211		Noble Energy, Inc		23,846
	202,678	e	Nordic American Tanker Shipping		2,049
	130,705	e	Northern Blizzard Resources, Inc		365
	111,820	*,e	Northern Oil And Gas, Inc		300
	73,471	e	Nostrum Oil & Gas plc		261
	154,507		NovaTek OAO (GDR)		17,032
	129,816	*	NuVista Energy Ltd		669
	610,487	*,e	Oasis Petroleum, Inc		7,002
	3,929,407		Occidental Petroleum Corp		286,532
	124,231	e	Ocean Yield ASA		1,025
	296,012		Oceaneering International, Inc		8,143
	1,104,602	*	Oil Refineries Ltd		409
	1,642,413	e	Oil Search Ltd		9,046
	134,472	*	Oil States International, Inc		4,245
	218,435	e	OMV AG.		6,289
	452,398		Oneok, Inc		23,249
	597,783	*,e	Ophir Energy plc		601
	1,609,857		Origin Energy Ltd		6,789
	100,031		Overseas Shipholding Group, Inc		1,057
	325,800	e	Pacc Offshore Services Holdings Ltd		75
	88,805	*	Pacific Ethanol, Inc		614
	80,588	*	Painted Pony Petroleum Ltd		496
	1,279,194	*,e	Paladin Resources Ltd		148
	39,532		Panhandle Oil and Gas, Inc (Class A)		693
	186,493	*,e	Pantheon Resources plc		247
	106,974	*	Par Petroleum Corp		1,399
	50,644	*,e	Paramount Resources Ltd (Class A)		569
	255,729	*	Parex Resources, Inc		3,245
	772,547	*,e	Parker Drilling Co		1,676
	230,999	e	Parkland Fuel Corp		5,446
	4,789,535	*	Parsley Energy, Inc		160,497
	63,827		Pason Systems, Inc		817
	981,427		Patterson-UTI Energy, Inc		21,955
	14,949		Paz Oil Co Ltd		2,340
	175,605	e	PBF Energy, Inc		3,976
	145,127	*	PDC Energy, Inc		9,732
	56	*,b,e	Peabody Energy Corp		0	^
	422,676		Pembina Pipeline Income Fund		12,880
	1,635,926	e	Pengrowth Energy Trust		2,581
	816,272	*	Penn West Energy Trust		1,462
	268,618	e	Petrofac Ltd		3,109
	5,061,705	*	Petroleo Brasileiro S.A.		23,564
	7,880,095	*	Petroleo Brasileiro S.A. (Preference)		32,881
	182,956	e	Petroleum Geo-Services ASA		404
	419,659		Petronas Dagangan BHD		2,385

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	378,732	e	Peyto Exploration & Development Corp	$	10,629
	32,320	*	PHI, Inc		587
	636,054		Phillips 66		51,234
	294,924	*	Pioneer Energy Services Corp		1,191
	630,683		Pioneer Natural Resources Co		117,086
	1,087,239		Plains All American Pipeline LP		34,150
	1,973,059		Plains GP Holdings LP		25,531
	4,036,053		Polish Oil & Gas Co		5,334
	421,841		Polski Koncern Naftowy Orlen S.A.		7,174
	100,100	*,m	Poseidon Concepts Corp		1
	104,725	e	PrairieSky Royalty Ltd		2,135
	1,043,495		Precision Drilling Trust		4,359
	1,863,009	*	Premier Oil plc		1,659
	189,075	e	ProSafe ASA		12
	1,496,200		PT Indo Tambangraya Megah		1,254
	18,113,600	*,m	PT Sugih Energy Tbk		158
	3,052,780		PT Tambang Batubara Bukit Asam Tbk		2,260
	2,030,406		PT United Tractors Tbk		2,766
	317,300		PTT Exploration & Production PCL (ADR)		742
	7,255,921		PTT Exploration & Production PCL (Foreign)		17,069
	1,217,695		PTT PCL (Foreign)		11,982
	592,684		Qatar Gas Transport Co Ltd		3,835
	439,900		QGEP Participacoes S.A.		629
	608,084		Questar Market Resources, Inc		11,876
	294,699	*	Raging River Exploration, Inc		2,417
	610,874		Range Resources Corp		23,671
	2,659,871		Reliance Industries Ltd		43,411
	92,000	*,e	Renewable Energy Group, Inc		779
	1,346,881		Repsol YPF S.A.		18,296
	14,021	*	Rex American Resources Corp		1,188
	1,508,239	*	Rice Energy, Inc		39,380
	31,663	*	RigNet, Inc		479
	84,761	*,e	Ring Energy, Inc		928
	2,204,202		Rosneft Oil Co (GDR)		12,057
	546,771		Rowan Cos plc		8,289
	5,262,072		Royal Dutch Shell plc (A Shares)		130,909
	4,392,351		Royal Dutch Shell plc (B Shares)		113,875
	1,146,310	*,e	RPC, Inc		19,258
	3,624,701	*	RSP Permian, Inc		140,566
	12,398,207	*	Saipem S.p.A.		5,253
	38,400		San-Ai Oil Co Ltd		262
	440,436	*,e	Sanchez Energy Corp		3,893
	1,177,470		Santos Ltd		3,319
	4,505,276		Sapurakencana Petroleum BHD		1,720
	266,431		Saras S.p.A.		424
	695,106	e	Sasol Ltd		18,991
	148,441		SBM Offshore NV		2,108
	4,495,050		Schlumberger Ltd		353,491
	9,295	e	Schoeller-Bleckmann Oilfield Equipment AG.		616
	544,403		Scorpio Tankers, Inc		2,521
	38,236	*,e	SEACOR Holdings, Inc		2,275
	1,107,982	*,e	Seadrill Ltd		2,626

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	410,924	*,e	Seadrill Ltd (Oslo Exchange)	$	1,003
	131,243	e	Secure Energy Services, Inc		927
	178,711	e	SemGroup Corp		6,319
	50	*,m	Serval Integrated Energy Services		0
	300,816	*	Seven Generations Energy Ltd		7,241
	292,800	*	Shandong Molong Petroleum Machinery Co Ltd		129
	384,242		Shanxi Guoxin Energy Corp Ltd		451
	53,152		ShawCor Ltd		1,311
	91,800		Shinko Plantech Co Ltd		656
	141,526	e	Ship Finance International Ltd		2,085
	288,265		Showa Shell Sekiyu KK		2,680
	2,356,100		Siamgas & Petrochemicals PCL (Foreign)		729
	7,200		Sinanen Co Ltd		148
	762,000	e	Sinopec Kantons Holdings Ltd		361
	172,855		SK Energy Co Ltd		25,611
	18,527		SK Gas Co Ltd		1,743
	247,901	e	SM Energy Co		9,564
	172,986		Soco International plc		303
	93,137		S-Oil Corp		6,921
	1,021,805	*	Southwestern Energy Co		14,142
	266,477	*,e	Spartan Energy Corp		687
	874,646		Spectra Energy Corp		37,391
	3,315,093		Statoil ASA		55,655
	289,617		Stobart Group Ltd		626
	326,256	*,e	Subsea 7 S.A.		3,521
	2,141,108		Suncor Energy, Inc		59,438
	721,831		Superior Energy Services		12,921
	679,452	e	Surge Energy, Inc		1,403
	1,600,453		Surgutneftegaz (ADR)		7,708
	354,200		Surgutneftegaz (ADR) (London)		1,714
	439,025	*,e	Synergy Resources Corp		3,042
	26,715	*	Tanker Investments Ltd		157
	819,162		Targa Resources Investments, Inc		40,229
	425,360	e	Tatneft PAO (ADR)		13,115
	165,225	e	Technip S.A.		10,157
	169,186	e	Tecnicas Reunidas S.A.		6,601
	104,594	e	Teekay Corp		806
	660,913	e	Teekay Tankers Ltd (Class A)		1,672
	394,505	e	Tenaris S.A.		5,619
	100,744		Tesco Corp		822
	218,160		Tesoro Corp		17,357
	84,565		Tethys Oil AB		597
	578,531	*	Tetra Technologies, Inc		3,535
	295,229		TGS Nopec Geophysical Co ASA		5,333
	1,338,455		Thai Oil PCL (Foreign)		2,654
	120,369	e	Tidewater, Inc		339
	92,432		TMK OAO (GDR)		353
	335,848		TonenGeneral Sekiyu KK		3,406
	126,610	e	TORC Oil & Gas Ltd		779
	37,252		TORM plc		340
	30,375		Total Energy Services, Inc		312
	3,213,770	e	Total S.A.		152,849

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	93,397	*	Tourmaline Oil Corp	$	2,530
	209,000		Toyo Kanetsu K K		440
	1,731,923	e	TransCanada Corp		82,256
	1,124		Transocean Ltd		12
	1,063,800	e	Transocean Ltd (NYSE)		11,340
	53,213	*	Trilogy Energy Corp		292
	201,713		Trinidad Drilling Ltd		386
	1,055,041	*,e	Tullow Oil plc		3,465
	463,169		Tupras Turkiye Petrol Rafine		8,771
	444,994		Ultrapar Participacoes S.A.		9,723
	516,700		UMW Oil & Gas Corp BHD		112
	196,697	*	Unit Corp		3,659
	152,777	e	US Silica Holdings Inc		7,113
	751,880		Valero Energy Corp		39,850
	254,226	e	Vallourec SA		1,141
	17,850		Verbio AG.		114
	573,718	e	Veresen, Inc		5,860
	49,180	e	Vermilion Energy, Inc		1,905
	30,849		VTTI Energy Partners LP		586
	92,869	*,e	W&T Offshore, Inc		163
	4,010,121	*,e	Weatherford International Ltd		22,537
	256,832	e	Western Refining, Inc		6,796
	91,845	*	Westmoreland Coal Co		814
	301,567	e	Whitecap Resources, Inc		2,519
	1,263,804	*	Whitehaven Coal Ltd		2,397
	634,747	*,e	Whiting Petroleum Corp		5,548
	140,809	*	Willbros Group, Inc		265
	3,723,209		Williams Cos, Inc		114,414
	2,150,000	*	Wison Engineering Services Co Ltd		232
	1,376,718		Woodside Petroleum Ltd		30,526
	305,675		World Fuel Services Corp		14,141
	317,412	e	WorleyParsons Ltd		2,059
	1,973,932	*	WPX Energy, Inc		26,036
	4,860,000	*,e	Yanchang Petroleum International Ltd		133
	3,817,066	e	Yanzhou Coal Mining Co Ltd		2,588
	460,200		Yinson Holdings BHD		359
	302,210	*	YPF S.A. (ADR) (Class D)		5,506
	698,105		Z Energy Ltd		4,274
			TOTAL ENERGY		7,676,079
FOOD & STAPLES RETAILING - 2.0%
	1,197,500		7-Eleven Malaysia Holdings BHD		521
	948,426	e	Aeon Co Ltd		14,032
	40,300		Ain Pharmaciez Inc		2,744
	5,204		Al Meera Consumer Goods Co		293
	638,904		Alimentation Couche Tard, Inc		30,963
	1,713,312		Almacenes Exito S.A.		8,735
	63,343		Andersons, Inc		2,292
	33,679		Arcs Co Ltd		843
	217,240		Axfood AB		3,835
	22,600		Axial Retailing, Inc		788
	8,200		Belc Co Ltd		312

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,972		BGF retail Co Ltd	$	1,752
	350,909		Bid Corp Ltd		6,633
	249,955		BIM Birlesik Magazalar AS		4,169
	21,349		Bizim Toptan Satis Magazalari AS		93
	3,588,640		Booker Group plc		8,278
	501,800		Carrefour S.A.		13,011
	84,721		Casey’s General Stores, Inc		10,179
	135,741		Casino Guichard Perrachon S.A.		6,607
	65,100		Cawachi Ltd		1,577
	4,678,746		Centros Comerciales Sudamericanos S.A.		14,054
	46,916	*,e	Chefs’ Warehouse Holdings, Inc		523
	252,417		Cia Brasileira de Distribuicao Grupo Pao de Acucar		4,121
	6,265		CJ Freshway Corp		254
	232,894		Clicks Group Ltd		2,158
	36,560		Cocokara Fine Holdings, Inc		1,409
	95,039	e	Colruyt S.A.		5,278
	6,677,200		Cosco Capital, Inc		1,143
	12,700	e	Cosmos Pharmaceutical Corp		2,727
	1,276,310		Costco Wholesale Corp		194,650
	5,643,329		CP Seven Eleven PCL (Foreign)		10,038
	111,200		Create SD Holdings Co Ltd		2,656
	3,153,732		CVS Health Corp		280,651
	5,700		Daikokutenbussaan Co Ltd		272
	183,005		Distribuidora Internacional de Alimentacion S.A.		1,133
	35,956		Dongsuh Co, Inc		958
	34,798		E-Mart Co Ltd		4,993
	163,132		Empire Co Ltd		2,433
	194,463		Eurocash S.A.		2,163
	122,291		FamilyMart Co Ltd		8,164
	49,862		George Weston Ltd		4,159
	322,086		Greggs plc		4,232
	27,500		Growell Holdings Co Ltd		1,896
	288,566	e	Grupo Comercial Chedraui S.a. DE C.V.		631
	30,256		GS Retail Co Ltd		1,357
	91,200		Heiwado Co Ltd		1,781
	4,656		Hyundai C&F, Inc		77
	41,362		Hyundai Greenfood Co Ltd		607
	334,404	e	ICA Gruppen AB		11,046
	3,032	*	Indiabulls Wholesale Service		1
	31,172		Ingles Markets, Inc (Class A)		1,233
	9,000		Itochu-Shokuhin Co Ltd		361
	2,896,374	e	J Sainsbury plc		9,225
	104,505		Jean Coutu Group PJC, Inc		1,603
	507,187		Jeronimo Martins SGPS S.A.		8,790
	18,300		Kato Sangyo Co Ltd		434
	172,317		Kesko Oyj (B Shares)		7,939
	7,000	e	Kobe Bussan Co Ltd		195
	4,170,723		Koninklijke Ahold Delhaize NV		94,992
	4,023,939		Kroger Co		119,431
	13,800	e	Kusuri No Aoki Co Ltd		706
	476,300	*,e	La Comer SAB de C.V.		436
	268,914	e	Lawson, Inc		21,243

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	309,979	*	Lenta Ltd (ADR)	$	2,511
	379,000	*,e	Lianhua Supermarket Holdings Co Ltd		146
	35,300		Life Corp		1,125
	210,993		Loblaw Cos Ltd		10,856
	36,000	*	Madison Wine Holdings Ltd		53
	434,243		Magnit OAO (GDR)		18,099
	54,619	*,e	Majestic Wine plc		218
	39,989		MARR S.p.A.		801
	113,304		Massmart Holdings Ltd		980
	105,100		Matsumotokiyoshi Holdings Co Ltd		5,431
	3,838,012	*	Metcash Ltd		6,171
	652,199		Metro AG.		19,413
	691,281		Metro, Inc		22,694
	32,247	*	Migros Ticaret AS		196
	40,500		Ministop Co Ltd		699
	24,139	*,e	Natural Grocers by Vitamin C		269
	25,600		Nihon Chouzai Co Ltd		1,123
	147,246	e	North West Co Fund		2,900
	42,000		Okuwa Co Ltd		393
	2,000		Olam International Ltd		3
	130,318	*	Performance Food Group Co		3,232
	327,555		Pick’n Pay Stores Ltd		1,643
	1,295,822		President Chain Store Corp		10,321
	46,356	e	Pricesmart, Inc		3,883
	1,124,500		PT Matahari Putra Prima Tbk		153
	22,000,000	*	PT Modern Internasional Tbk		258
	12,200		Qol Co Ltd		176
	256,802		Raia Drogasil S.A.		5,234
	19,043	e	Rallye S.A.		313
	3,963		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		160
	2,561,794	*	Rite Aid Corp		19,700
	3,661,740		Robinsons Retail Holdings, Inc		5,680
	41,579		Ryoshoku Ltd		1,351
	14,400		San-A Co Ltd		722
	894,097		Seven & I Holdings Co Ltd		42,269
	1,528,500	e	Sheng Siong Group Ltd		1,189
	1,027,128		Shoprite Holdings Ltd		14,352
	279,421		Shufersal Ltd		1,078
	58,363	*,e	Smart & Final Stores, Inc		745
	5,800		Sogo Medical Co Ltd		189
	678,797	e	Sonae SPGS S.A.		518
	211,726		Spar Group Ltd		2,966
	140,364		Spartan Stores, Inc		4,059
	244,781	*,e	Sprouts Farmers Market, Inc		5,055
	31,200		Sugi Pharmacy Co Ltd		1,697
	2,539,028	e	Sun Art Retail Group Ltd		1,756
	54,300		Sundrug Co Ltd		4,558
	1,050,361	*	Supervalu, Inc		5,241
	1,239,739		Sysco Corp		60,760
	646,000		Taiwan TEA Corp		300
	36,360,845	*	Tesco plc		86,119
	62,600		Tsuruha Holdings, Inc		7,237

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	268,810	*,e	United Natural Foods, Inc	$	10,763
	166,800		United Super Markets Holdings, Inc		1,647
	755,030	*	US Foods Holding Corp		17,826
	102,000		Valor Co Ltd		2,877
	18,544		Village Super Market (Class A)		594
	2,425,316		Walgreens Boots Alliance, Inc		195,529
	10,444,350		Wal-Mart de Mexico SAB de C.V.		22,936
	7,889,919		Wal-Mart Stores, Inc		569,021
	21,534		Weis Markets, Inc		1,141
	1,150,220		Wesfarmers Ltd		38,994
	512,951	e	Whole Foods Market, Inc		14,542
	3,824,752	e	WM Morrison Supermarkets plc		10,800
	914,114		Woolworths Ltd		16,366
	264,328	*	X 5 Retail Group NV (GDR)		7,665
	36,300	e	Yaoko Co Ltd		1,436
	31,400	e	Yokohama Reito Co Ltd		334
			TOTAL FOOD & STAPLES RETAILING		2,249,276
FOOD, BEVERAGE & TOBACCO - 5.6%
	594,187	*,e	a2 Milk Co Ltd		794
	29,818		AarhusKarlshamn AB		2,203
	506,618	*	Adecoagro S.A.		5,781
	43,077		AdvancePierre Foods Holdings, Inc		1,187
	17,552	e	AGT Food & Ingredients, Inc		501
	298,626		Agthia Group PJSC		511
	439,985		Ajinomoto Co, Inc		9,810
	8,067	e	Alico, Inc		217
	21,587	*	Alliance One International, Inc		413
	5,959,893		Altria Group, Inc		376,844
	7,305,874		AMBEV S.A.		44,525
	157,154	*,e	Amplify Snack Brands, Inc		2,546
	22,810		Amsterdam Commodities NV		568
	192,031		Anadolu Efes Biracilik Ve Malt Sanayii AS		1,162
	1,033,900		Anheuser-Busch InBev NV		135,966
	106,900		Anhui Gujing Distillery Co Ltd		414
	1,059,950		Archer Daniels Midland Co		44,698
	14,800		Ariake Japan Co Ltd		797
	110,399		Aryzta AG.		4,911
	347,344		Asahi Breweries Ltd		12,653
	1,831,809		Associated British Foods plc		61,722
	146,753	e	Astral Foods Ltd		1,261
	11,841		Atria Group plc		123
	249,779		Austevoll Seafood ASA		2,105
	349,083	*	Australian Agricultural Co Ltd		439
	813,410		AVI Ltd		5,569
	152,739		B&G Foods, Inc (Class A)		7,512
	146,983		Bakkafrost P		6,149
	109,360		Balrampur Chini Mills Ltd		177
	2,104		Barry Callebaut AG.		2,800
	364,561	e	Bega Cheese Ltd		1,860
	66,356	e	Bellamy’s Australia Ltd		663
	17,010	*	Belvedere S.A.		315

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,899		Binggrae Co Ltd	$	265
	175,799	*,e	Biostime Internatonal Holdings Ltd		460
	325,132	*,e	Blue Buffalo Pet Products, Inc		7,725
	16,961		Bonduelle S.C.A.		433
	32,721	*,e	Boston Beer Co, Inc (Class A)		5,080
	1,331,086		BRF S.A.		22,642
	273,704		British American Tobacco Malaysia BHD		3,252
	4,756,382		British American Tobacco plc		303,343
	4,218,620		Britvic plc		32,983
	109,940	e	Brown-Forman Corp		5,470
	287,937		Brown-Forman Corp (Class B)		13,660
	305,300		Bumitama Agri Ltd		162
	554,907		Bunge Ltd		32,867
	331,847		C&C Group plc		1,376
	43,726		Calavo Growers, Inc		2,861
	83,242		Calbee, Inc		3,154
	72,684	e	Cal-Maine Foods, Inc		2,801
	406,950		Campbell Soup Co		22,260
	192,100		Carabao Group PCL		358
	23,416		Carlsberg AS (Class B)		2,238
	272,800		Carlsberg Brewery-Malay BHD		970
	29,986		CCL Products India Ltd		118
	560,400		Century Pacific Food, Inc		187
	336,000		Changshouhua Food Co Ltd		158
	8,962,172		Charoen Pokphand Foods PCL		8,238
	4,382,000	*	China Agri-Industries Holdings Ltd		1,594
	4,821,889	e	China Huishan Dairy Holdings Co Ltd		1,805
	460,000	*	China Huiyuan Juice Group Ltd		163
	3,682,946		China Mengniu Dairy Co Ltd		6,893
	2,238,000	e	China Modern Dairy Holdings		423
	1,559,164	*,e	China Resources Beer Holdings Company Ltd		3,323
	3,120,000	*,e,g	China Shengmu Organic Milk Ltd		803
	1,289,000	*,e	China Yurun Food Group Ltd		211
	140,273		Cia Cervecerias Unidas S.A.		1,417
	8,660		CJ CheilJedang Corp		2,866
	20,829		Clearwater Seafoods, Inc		228
	182,979		Cloetta AB		663
	280,276		Clover Industries Ltd		402
	1,655,946		Coca-Cola Amatil Ltd		13,057
	10,606	e	Coca-Cola Bottling Co Consolidated		1,571
	242,698		Coca-Cola Central Japan Co Ltd		5,266
	9,788,466		Coca-Cola Co		414,248
	216,270	*	Coca-Cola European Partners plc		8,612
	756		Coca-Cola European Partners plc (Class A)		30
	545,127		Coca-Cola Femsa S.A. de C.V.		4,095
	356,636		Coca-Cola HBC AG.		8,285
	88,939		Coca-Cola Icecek AS		1,082
	151,400	e	Coca-Cola West Japan Co Ltd		4,237
	2,404,000		Cofco International Ltd		1,111
	3,473,550		ConAgra Foods, Inc		163,639
	446,704		Constellation Brands, Inc (Class A)		74,372
	22,614		Corby Spirit and Wine Ltd		391

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	216,453		Costa Group Holdings Ltd	$	498
	658,438		Cott Corp		9,383
	111,686		Cott Corp (Toronto)		1,589
	25,241	*	Craft Brewers Alliance, Inc		475
	15,490		Crown Confectionery Co Ltd		415
	921		Dae Han Flour Mills Co Ltd		152
	91,075		Daesang Corp		2,450
	12,141		Daesang Holdings Co Ltd		134
	114,613	e	Dairy Crest Group plc		963
	741,437	*	Darling International, Inc		10,017
	3,833,901		Davide Campari-Milano S.p.A.		43,206
	219,480	e	Dean Foods Co		3,599
	313,945	*,e	Deoleo S.A.		65
	3,066,767		Diageo plc		87,843
	1,093		Dongwon F&B Co Ltd		225
	1,255		Dongwon Industries Co Ltd		344
	525,081		Dr Pepper Snapple Group, Inc		47,945
	24,600		Dydo Drinco, Inc		1,367
	1,214,000	*,e,m	Dynasty Fine Wines Group Ltd		2
	336,601		Easy Bio, Inc		1,919
	56,591	e	Ebro Puleva S.A.		1,316
	269,044		Embotelladora Andina S.A.		1,029
	1,127,301		Embotelladoras Arca SAB de C.V.		6,707
	1,748		Emmi AG.		1,199
	37,100		Ezaki Glico Co Ltd		2,253
	26,465	*	Farmer Bros Co		941
	14,922	*	Farmsco		182
	1,605,104		Felda Global Ventures Holdings BHD		910
	615,041	e	Fevertree Drinks plc		7,718
	453,600	e	First Resources Ltd		610
	292,556	e	Flowers Foods, Inc		4,423
	2,029,363		Fomento Economico Mexicano S.A. de C.V.		18,708
	293,276	e	Fonterra Shareholders’ Fund		1,271
	169,825		Fresh Del Monte Produce, Inc		10,173
	53,524	*,e	Freshpet, Inc		463
	55,773		Fuji Oil Co Ltd		1,143
	14,932		Fujicco Co Ltd		344
	203,000	*	Fujiya Co Ltd		405
	2,611,486		General Mills, Inc		166,822
	235,114		Genting Plantations BHD		625
	1,877,700		GFPT PCL (Foreign)		798
	184,726		Glanbia plc		3,554
	10,813		GlaxoSmithKline Consumer Healthcare Ltd		980
	6,409,754	e	Golden Agri-Resources Ltd		1,676
	150,662		GrainCorp Ltd-A		909
	1,379,272		Great Wall Enterprise Co		1,195
	386,478		Greencore Group plc		1,680
	12,571	*	Greenyard Foods		222
	1,840,370		Groupe Danone		136,653
	233,530		Gruma SAB de C.V.		3,070
	2,815,616	e	Grupo Bimbo S.A. de C.V. (Series A)		7,422
	206,695	e	Grupo Herdez SAB de C.V.		449

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,707,148		Grupo Lala SAB de C.V.	$	3,251
	232,383	*,e	Hain Celestial Group, Inc		8,268
	27,493	*	Harim & Co Ltd		118
	56,223		Heineken Holding NV		4,504
	870,984		Heineken NV		76,560
	536,706		Hershey Co		51,309
	51,521		High Liner Foods, Inc		1,022
	7,090		Hite Holdings Co Ltd		80
	23,847	e	HKScan Oyj		88
	18,900	e	Hokuto Corp		340
	161,000	g	Honworld Group Ltd		96
	529,317		Hormel Foods Corp		20,077
	145,952	e	House Foods Corp		3,345
	477,200		Ichitan Group PCL		144
	925,630		Imperial Tobacco Group plc		47,643
	378,978	e	Indofood Agri Resources Ltd		125
	2,661,730		Indofood CBP Sukses Makmur Tbk		1,937
	496,600		Industrias Bachoco SAB de C.V.		2,076
	306,067		Ingredion, Inc		40,725
	47,088	*,e	Inventure Foods, Inc		443
	2,737,097		IOI Corp BHD		2,949
	5,448,551		ITC Ltd		19,772
	44,100	e	Ito En Ltd		1,569
	227,300	*,e	Itoham Yonekyu Holdings, Inc		2,373
	49,688		J&J Snack Foods Corp		5,919
	241,846		J.M. Smucker Co		32,780
	2,558,577		Japan Tobacco, Inc		104,736
	1,270,300		Japfa Ltd		756
	801,097		JBS S.A.		2,912
	25,904		Jinro Ltd		532
	69,530		John B. Sanfilippo & Son, Inc		3,569
	24,500		J-Oil Mills, Inc		872
	630,238		Juhayna Food Industries		292
	61,373	e	Kagome Co Ltd		1,610
	9,900	e	Kameda Seika Co Ltd		553
	76,360		Kaveri Seed Co Ltd		412
	1,149,961		Kellogg Co		89,087
	593,816		Kerry Group plc (Class A)		49,469
	13,500	e	KEY Coffee, Inc		253
	3,184,300		Khon Kaen Sugar Industry PCL		372
	109,671		Kikkoman Corp		3,512
	786,290		Kirin Brewery Co Ltd		13,068
	72,334		Koninklijke Wessanen NV		928
	14,100	*,e	Kotobuki Spirits Co Ltd		362
	2,873,252		Kraft Heinz Co		257,185
	71,955		KRBL Ltd		278
	275,982		KT&G Corp		31,429
	1,080,152		Kuala Lumpur Kepong BHD		6,273
	2,347		KWS Saat AG.		791
	35,773		La Doria S.p.A		347
	43,598		Lancaster Colony Corp		5,759
	65,048	*	Landec Corp		872

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	128,999		Leroy Seafood Group ASA	$	6,530
	2,280,000	*,e	Leyou Technologies Holdings Ltd		426
	523,432		Lien Hwa Industrial Corp		351
	17,634	*,e	Lifeway Foods, Inc		299
	30,504	e	Limoneira Co		577
	203		Lindt & Spruengli AG.		1,174
	26		Lindt & Spruengli AG. (Registered)		1,775
	582		Lotte Chilsung Beverage Co Ltd		847
	5,358		Lotte Confectionery Co Ltd		858
	638		Lotte Samkang Co Ltd		399
	33,860		M Dias Branco S.A.		1,384
	34,892		Maeil Dairy Industry Co Ltd		1,094
	77,256		Maple Leaf Foods, Inc		1,773
	242,500	*	Marfrig Global Foods S.A.		389
	202,000		Marudai Food Co Ltd		985
	120,000		Maruha Nichiro Corp		3,259
	186,488		McCormick & Co, Inc		18,634
	72,096		McLeod Russel India Ltd		184
	468,657		Mead Johnson Nutrition Co		37,029
	181,800		Megmilk Snow Brand Co Ltd		6,647
	191,500		MEIJI Holdings Co Ltd		19,014
	29,793	e	Mgp Ingredients, Inc		1,207
	103,500	*	Minerva S.A.		306
	59,600		Mitsui Sugar Co Ltd		1,438
	1,599,970		Molson Coors Brewing Co (Class B)		175,677
	6,316,911		Mondelez International, Inc		277,312
	1,269,348	*	Monster Beverage Corp		186,353
	64,660	e	Morinaga & Co Ltd		3,118
	446,000		Morinaga Milk Industry Co Ltd		3,574
	13,079		Muhak Co Ltd		285
	15,000	*	Nagatanien Co Ltd		195
	153,000		Namchow Chemical Industrial Ltd		340
	299		Namyang Dairy Products Co Ltd		187
	90,004	*,e	National Beverage Corp		3,965
	7,115	*,e	Naturex		638
	37,424		Nestle India Ltd		3,619
	3,939,311		Nestle S.A.		311,064
	2,360,000	*	New Silkroad Culturaltainment Ltd		434
	166,000		Nichirei Corp		3,728
	20,100		Nippon Beet Sugar Manufacturing Co Ltd		393
	126,000		Nippon Flour Mills Co Ltd		1,937
	141,705		Nippon Meat Packers, Inc		3,423
	399,466		Nippon Suisan Kaisha Ltd		1,718
	366,000		Nisshin Oillio Group Ltd		1,702
	177,907		Nisshin Seifun Group, Inc		2,712
	49,773	e	Nissin Food Products Co Ltd		3,025
	4,813		Nong Shim Co Ltd		1,374
	1,512		Nong Shim Holdings Co Ltd		151
	6,467		Nong Woo Bio Co Ltd		126
	103,705		Oceana Group Ltd		862
	78,244	*	Omega Protein Corp		1,829
	103,337		Origin Enterprises plc		653

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,926		Orion Corp	$	12,003
	12,294		Orior AG.		1,041
	320,913		Orkla ASA		3,323
	1,331		Ottogi Corp		909
	1,795,191		PAN Fish ASA		32,202
	4,593,540		PepsiCo, Inc		499,640
	1,399,000		Pepsi-Cola Products Philippine		92
	64,006		Pernod-Ricard S.A.		7,580
	72,987	*,e,m	Pescanova S.A.		1
	1,870		Philip Morris CR		964
	6,173,524		Philip Morris International, Inc		600,190
	227,917	e	Pilgrim’s Pride Corp		4,814
	37,347		Pinar SUT Mamulleri Sanayii AS		180
	2,363,706		Pinnacle Foods, Inc		118,587
	140,424		Pioneer Foods Ltd		1,772
	570,066	*	Post Holdings, Inc		43,992
	839,791		PPB Group BHD		3,290
	1,134,658	*	Premier Foods plc		776
	68,560	e	Premium Brands Holdings Corp		3,230
	696,000		Prima Meat Packers Ltd		2,515
	77,091	*	Primo Water Corp		935
	5,692,200	m	PT Austindo Nusantara Jaya		850
	1,389,600		PT Bisi International		192
	8,465,700		PT BW Plantation Tbk		123
	7,807,318		PT Charoen Pokphand Indonesia Tbk		2,103
	1,175,611		PT Gudang Garam Tbk		5,594
	10,524,600		PT Hanjaya Mandala Sampoerna Tbk		3,187
	6,584,391		PT Indofood Sukses Makmur Tbk		4,404
	4,578,200		PT Japfa Comfeed Indonesia Tbk		610
	1,411,300		PT Nippon Indosari Corpindo Tbk		183
	11,854,700		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		1,362
	8,323,600		PT Salim Ivomas Pratama Tbk		318
	1,837,800		PT Sawit Sumbermas Sarana Tbk		219
	905		Pulmuone Co Ltd		104
	176,900		Q.P. Corp		5,477
	492,019		QAF Ltd		438
	818,250		QL Resources BHD		878
	116,539	g	Refresco Gerber NV		1,936
	13,150		Remy Cointreau S.A.		1,122
	2,299,964		Reynolds American, Inc		108,443
	12,000,000		RFM Corp		1,039
	88,003		Rhodes Food Group Pty Ltd		177
	6,000	*	Riken Vitamin Co Ltd		284
	64,800		Rock Field Co Ltd		967
	292,564	e	Rogers Sugar, Inc		1,490
	121,626		Royal Unibrew A.S.		6,018
	10,600	e	S Foods, Inc		278
	818,969		SABMiller plc		47,704
	2,260	*	Sajo Industries Co Ltd		135
	23,655	e	Sakata Seed Corp		600
	202,799		Salmar ASA		6,200
	1,948		Samlip General Foods Co Ltd		351

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,959		Samyang Corp	$	1,478
	15,170		Samyang Holdings Corp		1,877
	46,475	e	Sanderson Farms, Inc		4,477
	47,800		Sao Martinho S.A.		862
	280,200		Sapporo Holdings Ltd		7,768
	339,577		Saputo, Inc		11,800
	109,319		Scandi Standard AB		812
	30,824		Scandinavian Tobacco Group A.S.		526
	22,730		Schouw & Co		1,481
	779	*	Seaboard Corp		2,680
	183,937	e	Select Harvests Ltd		803
	15,559	*	Seneca Foods Corp		439
	113,200	*	Shandong Zhonglu Oceanic Fisheries Co Ltd		94
	341,400	*	Shanghai Dajiang Group		207
	972,000		Shenguan Holdings Group Ltd		74
	93,000		Showa Sangyo Co Ltd		487
	5,310		Silla Co Ltd		72
	45,500		SLC Agricola S.A.		197
	230,344		Snyder’s-Lance, Inc		7,735
	386,290		Standard Foods Corp		993
	153,079		Stock Spirits Group plc		306
	34,148		Strauss Group Ltd		542
	100,358		Suedzucker AG.		2,791
	277,183		Suntory Beverage & Food Ltd		11,985
	395,400	e	Super Coffeemix Manufacturing Ltd		231
	416,164		Swedish Match AB		15,270
	54,317	*,e	Synutra International, Inc		231
	233,300		Takara Holdings, Inc		2,185
	121,460		Tassal Group Ltd		376
	546,371		Tata Tea Ltd		1,147
	479,954	e	Tate & Lyle plc		4,659
	606,600		TDM BHD		97
	2,143,000		Tenwow International Holdings Ltd		605
	1,320,309		Thai Union Group PCL		817
	1,723,400		Thai Vegetable Oil PCL		1,519
	1,423,000	e	Tibet 5100 Water Resources Holdings Ltd		500
	1,751,300		Tiga Pilar Sejahtera Food Tbk		262
	186,508		Tiger Brands Ltd		5,171
	2,213,190	e	Tingyi Cayman Islands Holding Corp		2,575
	101,631		Tongaat Hulett Ltd		874
	38,549	e	Tootsie Roll Industries, Inc		1,420
	98,746		Toyo Suisan Kaisha Ltd		4,189
	824,636		Treasury Wine Estates Ltd		6,998
	124,585	*,e	TreeHouse Foods, Inc		10,863
	3,920		TS Corp		85
	425,579	e	Tsingtao Brewery Co Ltd		1,666
	141,000		Ttet Union Corp		379
	16,804	*,e	Turning Point Brands, Inc		202
	955,859		Tyson Foods, Inc (Class A)		71,374
	491,982		Ulker Biskuvi Sanayi AS		3,507
	7,281,977		Uni-President Enterprises Corp		13,701
	95,620	*	United Spirits Ltd		3,547

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,850		Universal Corp	$	2,960
	1,009,804		Universal Robina		3,716
	276,984	e	Vector Group Ltd		5,963
	8,103		Vilmorin & Cie		533
	342,910		Vina Concha y Toro S.A.		600
	11,000,000		Vina San Pedro Tarapaca S.A.		131
	34,414		Viscofan S.A.		1,863
	6,165,614	e	Want Want China Holdings Ltd		3,837
	36,700		Warabeya Nichiyo Co Ltd		769
	296,000	*	Wei Chuan Food Corp		168
	8,603,500	g	WH Group Ltd		6,954
	536,892	*	WhiteWave Foods Co (Class A)		29,223
	4,121,367	e	Wilmar International Ltd		9,785
	66,031	e	Yakult Honsha Co Ltd		2,984
	259,716		Yamazaki Baking Co Ltd		6,386
	903,000	e	Yashili International		202
	2,899,000	*,e	YuanShengTai Dairy Farm Ltd		211
	8,507		Zydus Wellness Ltd		114
			TOTAL FOOD, BEVERAGE & TOBACCO		6,362,357
HEALTH CARE EQUIPMENT & SERVICES - 4.1%
	24,565	*,e	AAC Holdings, Inc		427
	50,617		Abaxis, Inc		2,613
	7,343,157		Abbott Laboratories		310,542
	97,799	*	Abiomed, Inc		12,575
	243,846	*,e	Acadia Healthcare Co, Inc		12,083
	190,919	*,e	Accuray, Inc		1,216
	127,021		Aceto Corp		2,412
	17,776	*	Addus HomeCare Corp		465
	31,605	*,e	Adeptus Health, Inc		1,361
	486,796		Advanced Medical Solutions Group plc		1,439
	1,257,468		Aetna Inc		145,175
	516,976	*	AGFA-Gevaert NV		1,629
	82,279	*,e	Air Methods Corp		2,591
	502,539	e	Al Noor Hospitals Group plc		6,026
	154,228	*	Alere, Inc		6,669
	470,919		Alfresa Holdings Corp		9,971
	5,212,659	*	Alibaba Health Information Technology Ltd		2,940
	150,465	*	Align Technology, Inc		14,106
	620,056	*	Allscripts Healthcare Solutions, Inc		8,166
	25,323	*	Almost Family, Inc		931
	59,169	e	Ambu A.S.		3,183
	126,851	*	Amedisys, Inc		6,018
	20,817	*,e	American Renal Associates Holdings, Inc		380
	491,733		AmerisourceBergen Corp		39,722
	134,360	*	AMN Healthcare Services, Inc		4,282
	311,213	e	Amplifon S.p.A.		3,195
	293,544	*,e	Amsurg Corp		19,682
	28,998		Analogic Corp		2,569
	82,745	*	Angiodynamics, Inc		1,451
	44,355	*	Anika Therapeutics, Inc		2,122
	270,364		Ansell Ltd		4,773

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	747,998		Anthem, Inc	$	93,732
	91,177		Apollo Hospitals Enterprise Ltd		1,801
	12,300		As One Corp		536
	51,000		Asahi Intecc Co Ltd		2,334
	53,053	*,e	athenahealth, Inc		6,691
	83,369	*,e	AtriCure, Inc		1,319
	6,006		Atrion Corp		2,562
	119,684		Attendo AB		1,158
	986,852		Australian Pharmaceutical Industries Ltd		1,466
	28,384	*,e	Avinger, Inc		135
	52,790	*	AxoGen, Inc		477
	1,078,350		Bangkok Chain Hospital PCL		377
	3,856,045		Bangkok Dusit Medical Services PCL		2,431
	166,410		Bard (C.R.), Inc		37,322
	2,658,666		Baxter International, Inc		126,553
	455,170		Becton Dickinson & Co		81,808
	13,128	*,e,g	Biocartis NV		120
	243,211	*,e	BioScrip, Inc		703
	124,265	*	BioTelemetry, Inc		2,308
	51,000		Bioteque Corp		259
	107,100		BML, Inc		2,819
	12,906	*	Boditech Med, Inc		307
	5,377,642	*	Boston Scientific Corp		127,988
	401,797	*	Brookdale Senior Living, Inc		7,011
	386,665		Bumrungrad Hospital PCL (Foreign)		1,951
	132,693		Cantel Medical Corp		10,347
	61,234	g	Capio AB		342
	64,406	*	Capital Senior Living Corp		1,082
	711,312		Cardinal Health, Inc		55,269
	110,122	*,e	Cardiovascular Systems, Inc		2,614
	26,716		Carl Zeiss Meditec AG.		1,023
	102,286	*,e	Castlight Health, Inc		426
	4,316	*	Cegedim S.A.		119
	153		Celesio AG.		4
	889,657	*	Centene Corp		59,571
	1,207,011	*	Cerner Corp		74,533
	243,819	*,e	Cerus Corp		1,514
	35,619	*	CHA Bio & Diostech Co Ltd		512
	72,147		CHC Healthcare Group		108
	51,307		Chemed Corp		7,238
	1,608,000	e	China NT Pharma Group Co Ltd		400
	411,000	e	China Pioneer Pharma Holdings Ltd		117
	4,080,500		Chularat Hospital PCL		309
	1,250,380		Cigna Corp		162,950
	78,084	*	Civitas Solutions, Inc		1,426
	106,335	e	Cochlear Ltd		11,526
	31,677		Coloplast AS		2,464
	256,775	*,e	Community Health Systems, Inc		2,963
	19,662		CompuGroup Medical AG.		906
	24,345	e	Computer Programs & Systems, Inc		634
	86,858	*,e	ConforMIS, Inc		862
	63,442		Conmed Corp		2,541

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	91,696		Cooper Cos, Inc	$	16,437
	900,000	e	Cordlife Group Ltd		794
	141,072	*,e	Corindus Vascular Robotics, Inc		157
	51,038	*	Corvel Corp		1,960
	62,377	*	Cotiviti Holdings, Inc		2,091
	175,518	*,e	Cross Country Healthcare, Inc		2,068
	101,149		CryoLife, Inc		1,777
	52,883	*	Cutera, Inc		630
	164,493	e	CVS Group plc		1,887
	221,900	*,e	CYBERDYNE, Inc		3,475
	100,163	*	Cynosure, Inc (Class A)		5,102
	50,000	e	Daiken Medical Co Ltd		375
	523,181	*	DaVita, Inc		34,567
	433,071		DENTSPLY SIRONA, Inc		25,737
	226,723	*	DexCom, Inc		19,875
	76,366		DiaSorin S.p.A.		4,908
	10,209	*	DIO Corp		480
	107,196	*,e	Diplomat Pharmacy, Inc		3,003
	5,986		Draegerwerk AG.		429
	2,664		Draegerwerk AG. & Co KGaA		170
	880,470	*	Edwards Lifesciences Corp		106,149
	13,200	e	Eiken Chemical Co Ltd		381
	305,230		Elekta AB (B Shares)		2,955
	53,344		EMIS Group plc		650
	188,261	*,e	Endologix, Inc		2,410
	111,338		Ensign Group, Inc		2,241
	17,210	*	Entellus Medical, Inc		382
	521,196	*	Envision Healthcare Holdings, Inc		11,607
	504,081		Essilor International S.A.		65,024
	1,675,864	e	Estia Health Ltd		4,273
	34,904	*,e	Evolent Health, Inc		859
	28,449	*	Exactech, Inc		769
	2,978,889	*	Express Scripts Holding Co		210,101
	250,398	e	Extendicare, Inc		1,806
	528,455	*,e	Fagron NV		5,732
	936,210		Fisher & Paykel Healthcare Corp		6,834
	67,600		Fleury S.A.		797
	1,098,005	*	Fortis Healthcare Ltd		2,760
	212,984		Fresenius Medical Care AG.		18,633
	479,038		Fresenius SE		38,266
	15,200		Fukuda Denshi Co Ltd		963
	5,275		Galenica AG.		5,610
	57,194	*,e	Genesis Health Care, Inc		153
	89,882	*	GenMark Diagnostics, Inc		1,061
	66,349		Getinge AB (B Shares)		1,286
	44,000		Ginko International Co Ltd		438
	119,030	*	Glaukos Corp		4,492
	162,211	*	Globus Medical, Inc		3,661
	568,351		GN Store Nord		12,256
	1,504,831	e	Golden Meditech Holdings Ltd		193
	70,300		Green Hospital Supply, Inc		2,161
	11,600		Guerbet		784

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	147,486	*	Haemonetics Corp	$	5,340
	134,291	*,e	Halyard Health, Inc		4,655
	989,000	e,g	Harmonicare Medical Holdings Ltd		596
	673,200		Hartalega Holdings BHD		755
	1,155,736	*	HCA Holdings, Inc		87,408
	98,711	*,e	HealthEquity, Inc		3,736
	1,398,628		Healthscope Ltd		3,304
	535,931	e	Healthsouth Corp		21,743
	61,170	*	HealthStream, Inc		1,688
	143,300	*	Healthways, Inc		3,792
	150,136	*	Henry Schein, Inc		24,469
	173,556		Hill-Rom Holdings, Inc		10,757
	305,962	*	HMS Holdings Corp		6,783
	14,900		Hogy Medical Co Ltd		1,045
	997,937	*	Hologic, Inc		38,750
	115,436		Hoya Corp		4,644
	5,110,000	e	Huayi Tencent Entertainment Co Ltd		321
	494,283	n	Humana, Inc		87,434
	4,239		Huons Global Co Ltd		179
	59,231	*	ICU Medical, Inc		7,486
	221,902	*	Idexx Laboratories, Inc		25,015
	3,979,142		IHH Healthcare BHD		6,091
	109,800	*,e	iKang Healthcare Group, Inc (ADR)		1,986
	248,413	*	IMS Health Holdings, Inc		7,785
	9,730		InBody Co Ltd		327
	87,184	*	Inogen Inc		5,222
	100,215	*,e	Inovalon Holdings, Inc		1,474
	137,285	*	Insulet Corp		5,620
	70,445	*	Integer Holding Corp		1,528
	72,160	*	Integra LifeSciences Holdings Corp		5,957
	6,740		Interojo Co Ltd		244
	212,662	*	Intuitive Surgical, Inc		154,144
	118,118		Invacare Corp		1,319
	82,328	*,e	InVivo Therapeutics Holdings Corp		560
	78,393		Ion Beam Applications		3,989
	13,081	*,e	iRadimed Corp		222
	19,764	*	IRIDEX Corp		286
	7,802	*	i-SENS Inc		226
	18,700	*	Japan Lifeline Co Ltd		890
	716,803	e	Japara Healthcare Ltd		1,124
	616,000		Jeol Ltd		2,485
	73,510	*,e	K2M Group Holdings, Inc		1,307
	297,661		Kindred Healthcare, Inc		3,042
	36,092		Korian-Medica		1,162
	930,600		Kossan Rubber Industries		1,548
	441,773		KPJ Healthcare BHD		452
	322,339	*	Laboratory Corp of America Holdings		44,315
	22,963		Landauer, Inc		1,021
	70,545		LeMaitre Vascular, Inc		1,400
	96,424	*	LHC Group, Inc		3,556
	54,229	e	Lifco AB		1,470
	1,066,448		Life Healthcare Group Holdings Pte Ltd		2,950

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	142,237	*	LifePoint Hospitals, Inc	$	8,425
	1,898,000	*,e	Lifetech Scientific Corp		481
	17,636	*	LivaNova plc		1,060
	6,802		Lutronic Corp		244
	191,635		M3, Inc		6,560
	139,638	*	Magellan Health Services, Inc		7,503
	53,100	e	Mani, Inc		1,191
	180,696	*	Masimo Corp		10,750
	774,958		McKesson Corp		129,224
	131,333	e	Medical Facilities Corp		2,194
	20,891		Medicare Group		513
	555,337		Mediceo Paltac Holdings Co Ltd		9,626
	127,892	*	Medidata Solutions, Inc		7,131
	27,964	*	Medipost Co Ltd		1,888
	220,699	*	MEDNAX, Inc		14,621
	4,681,437		Medtronic plc		404,476
	33,500		Menicon Co Ltd		916
	97,300		Meridian Bioscience, Inc		1,877
	210,897	*	Merit Medical Systems, Inc		5,123
	613,684		Metlifecare Ltd		2,795
	141,500		Microlife Corp		336
	490,000	*	Microport Scientific Corp		322
	94,439		Miraca Holdings, Inc		4,709
	324,000		Modern Dental Group Ltd		126
	163,921	*	Molina Healthcare, Inc		9,560
	19,436		Nagaileben Co Ltd		432
	17,300		Nakanishi, Inc		629
	630,113	*	Nanosonics Ltd		1,639
	7,666	*	NantHealth, Inc		101
	35,750	*	Narayana Hrudayalaya Ltd		179
	39,156		National Healthcare Corp		2,584
	23,220	e	National Research Corp		378
	154,978	*	Natus Medical, Inc		6,089
	84,824	*	Neogen Corp		4,745
	2,682,166		Network Healthcare Holdings Ltd		6,584
	4,973		Neuca S.A.		499
	54,968	*,e	Nevro Corp		5,738
	109,600	e	Nichii Gakkan Co		856
	88,700		Nihon Kohden Corp		2,156
	90,167	*	Nikkiso Co Ltd		809
	493,900	e	Nipro Corp		6,281
	23,735	g	NNIT A.S.		737
	131,817	*,e	Nobilis Health Corp		442
	116,591	*,e	Novocure Ltd		996
	193,863	*,e	NuVasive, Inc		12,923
	147,674	*	NxStage Medical, Inc		3,690
	266,870		Odontoprev S.A.		1,061
	1,138,282		Olympus Corp		39,750
	82,754	*	Omnicell, Inc		3,169
	329,059	*	OraSure Technologies, Inc		2,623
	236,981		Oriola-KD Oyj (B Shares)		1,078
	40,708	*	Orion Health Group Ltd		103

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,609		Orpea	$	3,156
	94,406	*	Orthofix International NV		4,038
	10,815	*	Osstem Implant Co Ltd		601
	144,623		Owens & Minor, Inc		5,023
	51,851	*,e	Oxford Immunotec Global plc		651
	13,400		Paramount Bed Holdings Co Ltd		507
	152,047	e	Patterson Cos, Inc		6,985
	72,202	*	Penumbra, Inc		5,487
	189,875		Pharmaniaga BHD		256
	93,940	*	PharMerica Corp		2,637
	553,000	e	Phoenix Healthcare Group Co Ltd		989
	30,584		Phonak Holding AG.		4,337
	91,000		Pihsiang Machinery Manufacturing Co Ltd		201
	418,680	*	Premier, Inc		13,540
	93,393	*	Press Ganey Holdings, Inc		3,773
	1,397,554		Primary Health Care Ltd		4,256
	47,575	*	Providence Service Corp		2,314
	322,800		PT Siloam International Hospitals Tbk		255
	2,134,000	*	PW Medtech Group Ltd		649
	238,887		Qualicorp S.A.		1,409
	121,709		Quality Systems, Inc		1,378
	385,747		Quest Diagnostics, Inc		32,646
	68,510	*	Quidel Corp		1,513
	135,339	*	Quorum Health Corp		849
	92,251	*	RadNet, Inc		683
	713,587	e	Raffles Medical Group Ltd		802
	143,183		Ramsay Health Care Ltd		8,712
	19,672		RaySearch Laboratories AB		455
	521,727	e	Regis Healthcare Ltd		1,750
	9,316,400		Religare Health Trust		7,139
	357,571	e	Resmed, Inc		23,167
	27,341		Rhoen Klinikum AG.		831
	211,000		Rion Co Ltd		2,790
	106,335	*,e	Rockwell Medical, Inc		712
	157,392	*	RTI Biologics, Inc		493
	733,465		Ryman Healthcare Ltd		5,149
	71,548		Sartorius AG.		5,960
	74,691		Sartorius Stedim Biotech		5,610
	42,016	*,e	Second Sight Medical Products, Inc		148
	603,668		Selcuk Ecza Deposu Ticaret ve Sanayi AS		571
	251,192	*	Select Medical Holdings Corp		3,391
	67,119	*,e	Senseonics Holdings, Inc		262
	16,920		SEWOONMEDICAL Co Ltd		80
	4,912,415		Shandong Weigao Group Medical Polymer Co Ltd		3,314
	2,260,540		Shanghai Pharmaceuticals Holding Co Ltd		6,139
	96,979	e	Sienna Senior Living, Inc		1,254
	20,650	*,e	Sientra, Inc		186
	3,021,632		Sigma Pharmaceuticals Ltd		3,287
	2,193,471		Sinopharm Group Co		10,624
	672,610		Smith & Nephew plc		10,848
	1,457,815		Sonic Healthcare Ltd		24,687
	102,096	*,e	Spectranetics Corp		2,562

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	717,791	g	Spire Healthcare Group plc	$	3,674
	470,713		St. Jude Medical, Inc		37,544
	189,000		St. Shine Optical Co Ltd		4,415
	98,604	*,e	Staar Surgical Co		927
	119,491		STERIS plc		8,735
	10,630		STRATEC Biomedical AG.		614
	25,416		Straumann Holding AG.		9,943
	712,313		Stryker Corp		82,920
	5,635		Suheung Capsule Co Ltd		203
	584,456	e	Summerset Group Holdings Ltd		2,259
	1,957,600		Supermax Corp BHD		1,033
	45,276	*,e	Surgery Partners, Inc		916
	145,853	*	Surgical Care Affiliates, Inc		7,112
	42,721	*	SurModics, Inc		1,285
	243,591		Suzuken Co Ltd		8,043
	101,953		Sysmex Corp		7,564
	7,470	*	Tactile Systems Technology, Inc		140
	65,654	*	Tandem Diabetes Care, Inc		503
	157,952	*	Team Health Holdings, Inc		5,143
	50,531	*,e	Teladoc, Inc		925
	73,460		Teleflex, Inc		12,345
	340,983	*	Tenet Healthcare Corp		7,727
	264,212		Terumo Corp		10,163
	218,600	e	Toho Pharmaceutical Co Ltd		4,639
	7,700		Tokai Corp (GIFU)		273
	849,500		Top Glove Corp BHD		1,048
	3,532,000	e	Town Health International Medical Group Ltd		562
	144,689	*,e	TransEnterix, Inc		245
	133,303	*	Triple-S Management Corp (Class B)		2,923
	28,400		Tsuki Corp		203
	301,215		United Drug plc		2,504
	3,179,089		UnitedHealth Group, Inc		445,072
	125,005		Universal American Corp		956
	4,625,000		Universal Health International Group Holding Ltd		222
	531,561		Universal Health Services, Inc (Class B)		65,499
	497,500	g	Universal Medical Financial & Technical Advisory Services Co Ltd		433
	49,619		US Physical Therapy, Inc		3,111
	5,166	*,e	USMD Holdings, Inc		117
	8,540		Utah Medical Products, Inc		511
	7,059		Value Added Technologies Co Lt		242
	152,529	*	Varian Medical Systems, Inc		15,181
	40,842	*	Vascular Solutions, Inc		1,970
	388,398	*	VCA Antech, Inc		27,180
	244,244	*	Veeva Systems, Inc		10,082
	35,388	*,e	Veracyte, Inc		269
	3,976,600		Vibhavadi Medical Center PCL (Foreign)		324
	7,196		Vieworks Co Ltd		427
	12,781	*,e	ViewRay, Inc		58
	256,485		Virtus Health Ltd		1,518
	156,900		VITAL KSK Holdings, Inc		1,663
	58,643	*	Vocera Communications, Inc		991

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	332,159	*	WellCare Health Plans, Inc	$	38,892
	16,200	g	Wenzhou Kangning Hospital Co Ltd		84
	170,579		West Pharmaceutical Services, Inc		12,708
	99,411	*	William Demant Holding A.S.		2,029
	238,963	*,e	Wright Medical Group NV		5,862
	9,636		Ypsomed Holding AG.		1,976
	81,483	*,e	Zeltiq Aesthetics, Inc		3,196
	668,307		Zimmer Holdings, Inc		86,893
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		4,702,867
HOUSEHOLD & PERSONAL PRODUCTS - 1.8%
	89,090		Able C&C Co Ltd		1,947
	36,653		Amorepacific Corp		12,998
	10,130		Amorepacific Corp (Preference)		1,957
	14,900		Artnature, Inc		95
	969,638		Asaleo Care Ltd		1,186
	1,052,940		Avon Products, Inc		5,960
	64,021		Bajaj Corp Ltd		372
	580,261		Beiersdorf AG.		54,773
	8,384		Bioland Ltd		163
	12,969	e	Blackmores Ltd		1,163
	193,767	*,e	Central Garden & Pet Co		5,038
	88,362	*	Central Garden and Pet Co (Class A)		2,191
	33,000		Chlitina Holding Ltd		166
	411,039		Church & Dwight Co, Inc		19,697
	53,089	*	CKH Food & Health Ltd		113
	270,226		Clorox Co		33,827
	1,481,762		Colgate-Palmolive Co		109,858
	24,008		Coreana Cosmetics Co Ltd		160
	3,813		Cosmax BTI, Inc		164
	20,304		Cosmax, Inc		2,807
	13,339	*	COSON Co Ltd		180
	66,498	e,n	Coty, Inc		1,563
	830,559		Dabur India Ltd		3,388
	54,000		Dr Ci:Labo Co Ltd		1,551
	10,300		Earth Chemical Co Ltd		486
	152,158	*	Edgewell Personal Care Co		12,100
	136,701		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		180
	104,456	*,e	elf Beauty, Inc		2,937
	305,456		Energizer Holdings, Inc		15,261
	1,397,947		Estee Lauder Cos (Class A)		123,802
	53,100	*,e	Euglena Co Ltd		767
	33,849		Eveready Industries India Ltd		129
	148,900		Fancl Corp		2,535
	10,460		Gillette India Ltd		683
	184,557		Godrej Consumer Products Ltd		4,405
	139,000	g	Golden Throat Holdings Group Co Ltd		71
	91,000		Grape King Industrial Co		757
	841,147		Hengan International Group Co Ltd		7,020
	47,613		Henkel KGaA		5,553
	215,003		Henkel KGaA (Preference)		29,262

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	216,693	*,e	Herbalife Ltd	$	13,433
	1,105,037		Hindustan Lever Ltd		14,417
	276,305	*	HRG Group, Inc		4,338
	384,867		Hypermarcas S.A.		3,298
	9,204		Inter Parfums S.A.		253
	41,182		Inter Parfums, Inc		1,329
	4,026		It’s Skin Co Ltd		185
	63,325		Jyothy Laboratories Ltd		328
	768,921		Kao Corp		43,473
	2,339,475		Karex BHD		1,393
	902,062		Kimberly-Clark Corp		113,786
	2,791,116		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		6,314
	47,700		Kobayashi Pharmaceutical Co Ltd		2,492
	9,602		Kolmar BNH Co Ltd		277
	23,813		Korea Kolmar Co Ltd		2,090
	6,204		Korea Kolmar Holdings Co Ltd		233
	23,900		Kose Corp		2,447
	15,619		LG Household & Health Care Ltd		13,592
	2,419		LG Household & Health Care Ltd (Preference)		1,134
	34,856	*,e	Lifevantage Corp		330
	313,000		Lion Corp		5,071
	423,883		L’Oreal S.A.		80,118
	17,879		Mandom Corp		818
	918,878		Marico Ltd		3,807
	104,047	e	Medifast, Inc		3,932
	321,924	*	Microbio Co Ltd		245
	9,600	e	Milbon Co Ltd		471
	212,898		Natura Cosmeticos S.A.		2,044
	17,712	e	Natural Health Trends Corp		501
	28,196	e	Nature’s Sunshine Products, Inc		451
	12,700		Noevir Holdings Co Ltd		388
	272,213		Nu Skin Enterprises, Inc (Class A)		17,634
	30,475	*	Nutraceutical International Corp		952
	4,839	*	NUTRIBIOTECH Co Ltd		307
	1,045,000		NVC Lighting Holdings Ltd		141
	12,706		Oil-Dri Corp of America		478
	60,890		Ontex Group NV		1,935
	20,167	e	Orchids Paper Products Co		549
	63,601	*	Oriflame Holding AG.		2,329
	31,428		Pacific Corp		4,748
	96,100		Pigeon Corp		2,911
	111,200		Pola Orbis Holdings, Inc		9,954
	9,254,014	e	Procter & Gamble Co		830,548
	8,430,500		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		346
	2,804,529		PT Unilever Indonesia Tbk		9,588
	228,175		PZ Cussons plc		1,077
	914,508		Reckitt Benckiser Group plc		86,096
	28,874	*	Revlon, Inc (Class A)		1,062
	11,641	*	Sansung Life & Science Co Ltd		266
	371,491		Shiseido Co Ltd		9,839
	119,714	e	Spectrum Brands, Inc		16,483
	485,869		Svenska Cellulosa AB (B Shares)		14,421

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,655		Tonymoly Co Ltd	$	157
	296,299		Uni-Charm Corp		7,688
	3,159,816		Unilever NV		145,583
	1,613,530		Unilever plc		76,352
	43,952	*	USANA Health Sciences, Inc		6,081
	200,000	e	Vinda International Holdings Ltd		396
	49,543		WD-40 Co		5,570
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		2,043,744
INSURANCE - 4.0%
	154,273		Admiral Group plc		4,095
	559,232		Aegon NV		2,133
	621,370	e	Aflac, Inc		44,658
	49,445		Ageas		1,808
	14,753,807		AIA Group Ltd		99,216
	21,650	*	Alleghany Corp		11,367
	811,279		Allianz AG.		120,564
	933,746		Allied World Assurance Co Holdings Ltd		37,742
	1,179,446		Allstate Corp		81,594
	170,330		Alm Brand AS		1,305
	122,059	*	AMBAC Financial Group, Inc		2,245
	441,622		American Equity Investment Life Holding Co		7,830
	177,245		American Financial Group, Inc		13,293
	6,496,243		American International Group, Inc		385,487
	12,348		American National Insurance Co		1,506
	59,686		Amerisafe, Inc		3,508
	350,021		Amtrust Financial Services, Inc		9,391
	77,460		Anadolu Hayat Emeklilik AS		129
	207,131		Anadolu Sigorta		117
	12,300	e	Anicom Holdings, Inc		303
	389,344		Aon plc		43,797
	234,893	*	Arch Capital Group Ltd		18,618
	404,511		Argo Group International Holdings Ltd		22,823
	206,055		Arthur J. Gallagher & Co		10,482
	251,588		Aspen Insurance Holdings Ltd		11,721
	1,174,039		Assicurazioni Generali S.p.A.		14,328
	89,345		Assurant, Inc		8,242
	231,465		Assured Guaranty Ltd		6,423
	26,495	*	Atlas Financial Holdings, Inc		418
	8,472,824		Aviva plc		48,347
	20,009		AvivaSA Emeklilik ve Hayat AS.		127
	4,665,520		AXA S.A.		99,199
	183,259		Axis Capital Holdings Ltd		9,956
	4,146		Bajaj Finserv Ltd		191
	30,590		Baldwin & Lyons, Inc (Class B)		784
	10,643		Baloise Holding AG.		1,289
	809,974		BB Seguridade Participacoes S.A.		7,442
	1,509,591		Beazley plc		7,561
	4,960,524	*	Berkshire Hathaway, Inc (Class B)		716,647
	11,151	e	Blue Capital Reinsurance Holdings Ltd		204
	171,012		Brown & Brown, Inc		6,449

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,375,316		Cathay Financial Holding Co Ltd	$	12,054
	110,209		Chesnara plc		472
	2,161,694	*	China Insurance International Holdings Co Ltd		4,311
	9,072,990	e	China Life Insurance Co Ltd		23,773
	8,552,779		China Life Insurance Co Ltd (Taiwan)		7,857
	6,003,139		China Pacific Insurance Group Co Ltd		22,451
	3,539,864		Chubb Ltd		444,784
	204,905		Cincinnati Financial Corp		15,454
	107,107	*,e	Citizens, Inc (Class A)		1,003
	14,908	*	Clal Insurance		161
	53,659		CNA Financial Corp		1,846
	498,423		CNP Assurances		8,374
	547,126		Conseco, Inc		8,355
	3,630,000	*	Convoy Financial Holdings Ltd		113
	1,068,091		Corp Mapfre S.A.		2,988
	277,625	e,m	Cover-More Group Ltd		310
	70,086	e	Crawford & Co (Class B)		795
	2,277,011		Dai-ichi Mutual Life Insurance Co		31,239
	629,882		Delta Lloyd NV		2,889
	2,468,053		Direct Line Insurance Group plc		11,658
	400,189	e	Discovery Holdings Ltd		3,299
	31,245		Donegal Group, Inc (Class A)		503
	134,857		Dongbu Insurance Co Ltd		8,384
	20,000	e	Dream Incubator, Inc		418
	63,813	*	eHealth, Inc		715
	23,677		EMC Insurance Group, Inc		638
	94,282		Employers Holdings, Inc		2,812
	125,225		Endurance Specialty Holdings Ltd		8,196
	25,928	*	Enstar Group Ltd		4,264
	51,332	e	Erie Indemnity Co (Class A)		5,239
	239,446		esure Group plc		942
	29,235		Euler Hermes S.A.		2,486
	107,408		Everest Re Group Ltd		20,404
	21,163		Fairfax Financial Holdings Ltd		12,400
	24,441	*,e	FBD Holdings plc		180
	22,372		FBL Financial Group, Inc (Class A)		1,431
	83,595		Federated National Holding Co		1,562
	42,592	e	Fidelity & Guaranty Life		988
	328,201		First American Financial Corp		12,892
	610,818		FNF Group		22,545
	1,047,477		Fondiaria-Sai S.p.A		1,706
	52,000		FPC Par Corretora de Seguros S.A.		233
	1,802,542	*	Genworth Financial, Inc (Class A)		8,941
	206,919		Gjensidige Forsikring BA		3,870
	494,151		Great-West Lifeco, Inc		12,162
	70,115	*	Greenlight Capital Re Ltd (Class A)		1,433
	96,993		Grupo Catalana Occidente S.A.		2,883
	51,892	*	Hallmark Financial Services		534
	134,438		Hannover Rueckversicherung AG.		14,411
	70,235		Hanover Insurance Group, Inc		5,297
	142,635		Hanwha Non-Life Insurance Co Ltd		847
	86,165		Harel Insurance Investments & Finances Ltd		312

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,423,947		Hartford Financial Services Group, Inc	$	60,973
	96,764	g	Hastings Group Holdings Ltd		289
	19,393	e	HCI Group, Inc		589
	5,283		Helvetia Holding AG.		2,665
	229,065	e	Heritage Insurance Holdings, Inc		3,301
	327,784		Hiscox Ltd		4,423
	114,445		Horace Mann Educators Corp		4,194
	179,280		Hyundai Marine & Fire Insurance Co Ltd		5,919
	14,169		IDI Insurance Co Ltd		669
	16,347		Independence Holding Co		281
	161,724		Industrial Alliance Insurance and Financial Services, Inc		5,822
	50,943		Infinity Property & Casualty Corp		4,209
	2,560,771		Insurance Australia Group Ltd		10,785
	195,902		Intact Financial Corp		14,162
	3,044		Investors Title Co		303
	31,724		James River Group Holdings Ltd		1,148
	255,522		Japan Post Holdings Co Ltd		3,212
	1,800	e	Japan Post Insurance Co Ltd		39
	627,886		Just Retirement Group plc		1,091
	94,484		Kemper Corp		3,715
	7,480		Kinsale Capital Group, Inc		165
	648,624		Korea Life Insurance Co Ltd		3,401
	266,469		Korean Reinsurance Co		2,821
	155,556	e	Lancashire Holdings Ltd		1,350
	15,447,834	e	Legal & General Group plc		43,779
	400,165		Liberty Holdings Ltd		3,400
	96,247		LIG Insurance Co Ltd		2,387
	315,547		Lincoln National Corp		14,824
	378,115		Loews Corp		15,559
	46,768	*	Lotte Non-Life Insurance Co Ltd		112
	171,865		Maiden Holdings Ltd		2,181
	2,192,616		Manulife Financial Corp		30,935
	19,721	*	Markel Corp		18,316
	1,562,019		Marsh & McLennan Cos, Inc		105,046
	29,190		Max India Ltd		245
	216,520	*	Max India Ltd (New)		453
	323,527	*	MBIA, Inc		2,520
	4,582,038		Medibank Pvt Ltd		8,729
	24,051		Menorah Mivtachim Holdings Ltd		198
	667,238		Mercuries & Associates Holding Ltd		406
	617,803		Mercuries Life Insurance Co Lt		293
	48,016		Mercury General Corp		2,634
	48,897		Meritz Fire & Marine Insurance Co Ltd		685
	2,782,774		Metlife, Inc		123,639
	1,008,119		Metropolitan Holdings Ltd		1,642
	330,711	*	Migdal Insurance Holdings Ltd		215
	73,490		Mirae Asset Life Insurance Co Ltd		288
	2,083,654		Mitsui Sumitomo Insurance Group Holdings, Inc		58,074
	397,900	*	MPHB Capital BHD		129
	73,541		Muenchener Rueckver AG.		13,735
	254,091		National General Holdings Corp		5,651
	29,568		National Interstate Corp		962

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,157	e	National Western Life Group, Inc	$	1,264
	52,044		Navigators Group, Inc		5,044
	951,382		New China Life insurance Co Ltd		4,250
	262,199		NKSJ Holdings, Inc		7,771
	98,923		NN Group NV		3,037
	8,101,370		Old Mutual plc		21,236
	461,223		Old Republic International Corp		8,127
	90,819		OneBeacon Insurance Group Ltd (Class A)		1,297
	30,813	*,e	Patriot National, Inc		278
	8,750,288		People’s Insurance Co Group of China Ltd		3,604
	183,574		Phoenix Group Holdings		2,090
	44,448	*	Phoenix Holdings Ltd		122
	5,661,426		PICC Property & Casualty Co Ltd		9,492
	9,021,926		Ping An Insurance Group Co of China Ltd		47,295
	104,474		Porto Seguro S.A.		958
	1,819,812	g	Poste Italiane S.p.A		12,486
	961,647		Power Corp Of Canada		20,370
	523,121	e	Power Financial Corp		12,122
	624,408		Powszechny Zaklad Ubezpieczen S.A.		3,985
	109,266	e	Primerica, Inc		5,794
	1,022,413		Principal Financial Group		52,665
	153,892		ProAssurance Corp		8,076
	846,607		Progressive Corp		26,668
	138,749	e	Protector Forsikring ASA		1,321
	748,635		Prudential Financial, Inc		61,126
	6,176,139		Prudential plc		109,482
	57,256,000	*	PT Panin Insurance Tbk		2,874
	282,688,900	*	PT Panin Life Tbk		4,105
	137,695		Qatar Insurance Co SAQ		3,361
	1,383,812		QBE Insurance Group Ltd		9,902
	226,300	e	Qualitas Controladora SAB de C.V.		342
	834,162		Rand Merchant Investment Holdings Ltd		2,514
	195,214		Reinsurance Group of America, Inc (Class A)		21,071
	359,969		RenaissanceRe Holdings Ltd		43,254
	89,408		RLI Corp		6,112
	373,255		RSA Insurance Group plc		2,636
	33,581		Safety Insurance Group, Inc		2,257
	1,841,776		Saga plc		5,081
	1,093,117		Sampo Oyj (A Shares)		48,564
	37,912		Samsung Fire & Marine Insurance Co Ltd		9,656
	153,784		Samsung Life Insurance Co Ltd		14,769
	2,376,514		Sanlam Ltd		11,074
	176,929		SCOR SE		5,502
	132,786		Selective Insurance Group, Inc		5,293
	7,257,361		Shin Kong Financial Holding Co Ltd		1,601
	164,000		Shinkong Insurance Co Ltd		126
	356,704	e	Societa Cattolica di Assicurazioni SCRL		1,996
	1,234,141		Sony Financial Holdings, Inc		16,996
	594,571		St. James’s Place plc		7,298
	1,469,278		Standard Life plc		6,545
	36,888		State Auto Financial Corp		878
	98,436		State National Cos, Inc		1,095

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	968,142		Steadfast Group Ltd	$	1,698
	63,651		Stewart Information Services Corp		2,829
	443,831	*,e	Storebrand ASA		2,200
	177,960		Sul America SA		888
	898,577		Sun Life Financial, Inc		29,239
	1,299,904		Suncorp-Metway Ltd		12,127
	40,147		Swiss Life Holding		10,411
	701,423		Swiss Re Ltd		63,351
	792,600		Syarikat Takaful Malaysia BHD		798
	1,249,442		T&D Holdings, Inc		14,095
	137,000		Taiwan Fire & Marine Insurance Co		82
	2,600,200		Thai Reinsurance PCL		155
	2,194,381	*,e	Third Point Reinsurance Ltd		26,333
	1,448,168		Tokio Marine Holdings, Inc		55,537
	180,379		Tong Yang Life Insurance		1,866
	56,085	*	Topdanmark AS		1,574
	173,168		Torchmark Corp		11,064
	784,636		Travelers Cos, Inc		89,880
	39,013	*,e	Trupanion, Inc		659
	28,703		Tryg A.S.		577
	476,300		Tune Ins Holdings BHD		189
	2,018,132		Unipol Gruppo Finanziario S.p.A		5,157
	101,858		Uniqa Versicherungen AG.		662
	30,501	*	United America Indemnity Ltd		906
	58,975		United Fire & Casualty Co		2,496
	120,232	e	United Insurance Holdings Corp		2,042
	105,078	e	Universal Insurance Holdings, Inc		2,648
	381,619		UnumProvident Corp		13,475
	935,633		Validus Holdings Ltd		46,613
	52,516		Vittoria Assicurazioni S.p.A.		572
	707,336		W.R. Berkley Corp		40,856
	8,885		White Mountains Insurance Group Ltd		7,375
	31,981	e	Wiener Staedtische Allgemeine Versicherung AG.		649
	4,289		Willis Towers Watson plc		569
	18,987		Wuestenrot & Wuerttembergische AG.		381
	3,285,915		XL Group Ltd		110,505
	404,633		Zurich Financial Services AG.		104,352
			TOTAL INSURANCE		4,549,388
MATERIALS - 4.8%
	85,258		A. Schulman, Inc		2,483
	21,230		Aarti Industries		199
	147,253		Acerinox S.A.		1,948
	10,300	e	Achilles Corp		145
	38,885		Acron JSC (GDR)		209
	46,912		Adana Cimento		95
	179,800		ADEKA Corp		2,488
	401,810		Adelaide Brighton Ltd		1,711
	292,716	*,m	Advanta Ltd		0
	244,794		Aeci Ltd		1,852
	23,978		AEP Industries, Inc		2,622
	134,871		African Barrick Gold Ltd		870

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	100,864		African Rainbow Minerals Ltd	$	606
	396,155		Agnico-Eagle Mines Ltd		21,424
	351,734	e	Agrium, Inc		31,864
	48,884	*,e	AgroFresh Solutions, Inc		259
	19,300	*	Aichi Steel Corp		979
	69,303	e	Air Liquide		7,432
	254,921	n	Air Products & Chemicals, Inc		38,325
	107,422		Air Water, Inc		2,029
	4,335		AK Holdings, Inc		239
	2,010,705	*,e	AK Steel Holding Corp		9,712
	73,373		Akcansa Cimento AS		312
	9,420		Akzo Nobel India Ltd		241
	397,462		Akzo Nobel NV		26,884
	287,426		Alamos Gold, Inc		2,366
	966,171		Albemarle Corp		82,598
	3,913,695		Alcoa, Inc		39,685
	274,722	e	Allegheny Technologies, Inc		4,964
	280,000	e	Alpek SAB de C.V.		475
	29,242	e	Altius Minerals Corp		249
	587,051	e	Altri SGPS S.A.		2,052
	1,705,072	e	Alumina Ltd		1,920
	5,241,445	*,e	Aluminum Corp of China Ltd		1,912
	714,448		Ambuja Cements Ltd		2,707
	2,130,928		Amcor Ltd		24,820
	64,567		American Vanguard Corp		1,037
	14,683	e	Ampco-Pittsburgh Corp		163
	4,759,000		AMVIG Holdings Ltd		1,667
	108,585	*	Anadolu Cam Sanayii AS		76
	823,038	*,e	Anatolia Minerals Development Ltd		2,058
	71,388	*,e	Anglo American Platinum Ltd		2,008
	2,538,345	*	Anglo American plc (London)		31,655
	700,689	*	AngloGold Ashanti Ltd		11,199
	4,624,369	e	Anhui Conch Cement Co Ltd		12,781
	428,729	e	Antofagasta plc		2,904
	175,587	*	APERAM		7,916
	69,047		Aptargroup, Inc		5,345
	233,068		Arabian Cement Co		133
	3,664,969	*	ArcelorMittal		22,350
	397,739		Arkema		36,824
	52,174		Asahi Holdings, Inc		891
	1,780,238		Asahi Kasei Corp		14,187
	216,836	*	Asanko Gold, Inc		909
	321,818		Ashland Global Holdings, Inc		37,315
	934,500		Asia Cement China Holdings Corp		226
	1,164		Asia Cement Co Ltd		78
	2,308,024		Asia Cement Corp		2,022
	786		Asia Holdings Co Ltd		71
	278,587		Asia Polymer		160
	435,137		Asian Paints Ltd		7,596
	46,286		Associated Cement Co Ltd		1,115
	73,579		Assore Ltd		796
	7,639		Atul Ltd		262

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,779		Aurubis AG.	$	1,558
	403,530		Avery Dennison Corp		31,391
	965,446	*	Axalta Coating Systems Ltd		27,293
	1,728,361	*	B2Gold Corp		4,532
	73,375		Balchem Corp		5,689
	361,522		Ball Corp		29,627
	344,944		Barrick Gold Corp		6,112
	1,837,966		Barrick Gold Corp (Canada)		32,544
	8,644		BASF India Ltd		157
	673,144		BASF SE		57,638
	14,665		Bayer CropScience Ltd		986
	12,000,000	e	BBMG Corp		4,655
	108,082		Bekaert S.A.		4,948
	215,767		Bemis Co, Inc		11,006
	362,200		Bengang Steel Plates Co		124
	337,573		Berger Paints India Ltd		1,326
	3,173,934	*	Berry Plastics Group, Inc		139,177
	3,175,949		BHP Billiton Ltd		55,015
	3,007,266		BHP Billiton plc		45,225
	463,599		Billerud AB		8,204
	1,309,794		BlueScope Steel Ltd		7,819
	243,691	*	Boise Cascade Co		6,190
	1,104,751		Boliden AB		25,967
	798,235		Boral Ltd		4,152
	241,493		Borregaard ASA		2,171
	35,346		Borusan Mannesmann Boru Sanayi		106
	222,391		Boryszew S.A.		405
	32,089		BRAAS Monier Building Group S.A.		939
	209,500		Bradespar S.A.		629
	434,575		Braskem S.A.		3,355
	165,506		Brickworks Ltd		1,768
	54,107	e	Buzzi Unicem S.p.A.		1,109
	112,789		Buzzi Unicem S.p.A. RSP		1,280
	9,100	e	C Uyemura & Co Ltd		411
	140,324		Cabot Corp		7,354
	491,700		Cahya Mata Sarawak BHD		452
	238,604		Calgon Carbon Corp		3,620
	37,130	e	Canam Group, Inc		284
	63,517	*	Canfor Corp		705
	70,908		Canfor Pulp Products, Inc		555
	73,144		CAP S.A.		398
	107,398		Carpenter Technology Corp		4,431
	147,380		Cascades, Inc		1,441
	108,855		CCL Industries		20,960
	272,345		Celanese Corp (Series A)		18,127
	120,604		Cementir S.p.A.		569
	962,460		Cementos Argos S.A.		3,832
	153,942	*	Cemex Latam Holdings S.A.		585
	27,565,106	*	Cemex S.A. de C.V.		21,836
	2,673,664		Centamin plc		5,135
	469,427	e	Centerra Gold, Inc		2,573
	215,364	*	Century Aluminum Co		1,497

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44,728		Century Plyboards India Ltd	$	168
	1,868,125		Century Sunshine Ecological Technology Holdings Ltd		70
	26,626		Century Textile & Industries Ltd		378
	276,396		CF Industries Holdings, Inc		6,730
	23,466		Chase Corp		1,622
	427,846		Chemours Co		6,846
	174,133	*	Chemtura		5,713
	707,560		Cheng Loong Corp		258
	314,925		Chia Hsin Cement Corp		90
	364,000	*,e	Chiho-Tiande Group Ltd		262
	1,676,695		China BlueChemical Ltd		309
	4,680,000	*,e	China Daye Non-Ferrous Metals Mining Ltd		64
	147,000		China Hi-ment Corp		260
	929,250		China Manmade Fibers Corp		217
	625,372		China Metal Products		610
	858,455	*,e,m	China Metal Recycling Holdings Ltd		1
	3,247,282	e	China National Building Material Co Ltd		1,454
	1,045,000	e	China National Materials Co Ltd		245
	2,067,628	*	China Petrochemical Development Corp		507
	6,683,200	*,e,m	China Shanshui Cement Group Ltd		4,065
	652,000	e	China Silver Group Ltd		145
	133,000		China Steel Chemical Corp		440
	13,409,303		China Steel Corp		9,479
	431,540		China Synthetic Rubber Corp		351
	292,000	*	China Wood Optimization Holding Ltd		97
	344,000		China XLX Fertiliser Ltd		101
	538,000	*	Chongqing Iron & Steel Co Ltd		163
	86,592		Christian Hansen Holding		5,158
	150,000	e	Chugoku Marine Paints Ltd		1,053
	325,540		Chung Hwa Pulp Corp		93
	473,971		Cia de Minas Buenaventura S.A. (ADR) (Series B)		6,560
	667,248		Cia Siderurgica Nacional S.A.		1,865
	79,965		Ciech S.A.		1,384
	160,248		Cimsa Cimento Sanayi Ve Tica		795
	276,075		Clariant AG.		4,759
	63,559	*	Clearwater Paper Corp		4,110
	1,251,069	*,e	Cliffs Natural Resources, Inc		7,319
	79,944	*	Codexis, Inc		355
	1,098,920	*,e	Coeur Mining, Inc		13,000
	267,721		Commercial Metals Co		4,334
	86,132	*,m	Companhia Vale do Rio Doce		0
	92,945	e	Compass Minerals International, Inc		6,850
	53,183		Corbion NV		1,432
	105,018		Coromandel International Ltd		389
	49,933	e	Corticeira Amorim SGPS S.A.		486
	505,867	g	Covestro AG.		29,936
	346,000	e	CPMC Holdings Ltd		175
	2,006,471		CRH plc		66,627
	343,585		Croda International plc		15,504
	1,179,690	*	Crown Holdings, Inc		67,348
	1,902,511		CSR Ltd		5,304
	157,303	*,e,m	CuDeco Ltd		52

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,309,600		D&L Industries Inc	$	543
	366,000		Da Ming International Holdings Ltd		129
	84,900	*	Dahua Group Dalian Chemical Industry Co		107
	317,207		Daicel Chemical Industries Ltd		4,009
	234,000		Daido Steel Co Ltd		1,073
	21,600		Daiken Corp		423
	93,857		Dainichiseika Color & Chemicals Manufacturing Co Ltd		459
	193,600		Dainippon Ink and Chemicals, Inc		5,993
	239,872	e	Daio Paper Corp		2,840
	52,000		Daiso Co Ltd		213
	19,796		Dalmia Bharat Ltd		556
	221,200	*	Danhua Chemical Technology Co Ltd		133
	24,138		Deltic Timber Corp		1,635
	1,125,000		Denki Kagaku Kogyo KK		4,872
	250,715	*	Detour Gold Corp		5,454
	10,699		Dhanuka Agritech Ltd		108
	67,845		Dominion Diamond Corp		659
	178,994		Domtar Corp		6,646
	48,784	*	Dongkuk Steel Mill Co Ltd		352
	2,608	*	Dongwha Enterprise Co Ltd		78
	2,946,000	m	Dongyue Group		390
	5,541,480		Dow Chemical Co		287,215
	248,000		Dowa Holdings Co Ltd		1,739
	1,904,629		DS Smith plc		9,477
	196,442		DSM NV		13,267
	4,917	*	Duk San Neolux Co Ltd		139
	319,052		DuluxGroup Ltd		1,619
	217,172		Eagle Materials, Inc		16,787
	619,800		Eastern Polymer Group PCL		244
	176,652		Eastman Chemical Co		11,956
	827,890		Ecolab, Inc		100,771
	1,681,876		EI du Pont de Nemours & Co		112,635
	109,506		EID Parry India Ltd		406
	173,644	*	El Ezz Steel Co		139
	624,462	*	Eldorado Gold Corp		2,456
	379,864	e	Elementis plc		1,071
	2,616,660		Empresas CMPC S.A.		5,208
	17,605		EMS-Chemie Holding AG.		9,463
	798,000		Ence Energia y Celulosa S.A.		1,740
	51,122	*	Endeavour Mining Corp		993
	4,504	*,e	Eramet		179
	1,408,228		Eregli Demir ve Celik Fabrikalari TAS		1,938
	34,962		Essel Propack Ltd		119
	215,619	e	Essentra plc		1,358
	1,676,030		Eternal Chemical Co Ltd		1,807
	35,500		Eugene Corp		171
	382,128		Everlight Chemical Industrial Corp		253
	1,777,022		Evolution Mining Ltd		3,380
	263,610	*,e	Evolva Holdings S.A.		161
	643,411		Evonik Industries AG.		21,782
	347,163	*	Evraz plc		725
	390,050		Feng Hsin Iron & Steel Co		509

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	278,974	*	Ferro Corp	$	3,853
	280,995	e	Ferroglobe plc		2,537
	290,630		Fibria Celulose S.A.		2,056
	31,790		Finolex Industries Ltd		216
	129,093	*	First Majestic Silver Corp		1,331
	1,004,473		First Quantum Minerals Ltd		8,315
	4,519,542		Fletcher Building Ltd		35,395
	127,655	*,e	Flotek Industries, Inc		1,856
	213,862		FMC Corp		10,338
	47,878	*	Foosung Co Ltd		334
	7,168,354		Formosa Chemicals & Fibre Corp		19,343
	4,828,176		Formosa Plastics Corp		12,023
	343,800		Formosan Rubber Group, Inc		166
	8,574,781	e	Fortescue Metals Group Ltd		32,821
	168,375	*	Fortuna Silver Mines, Inc		1,220
	169,791	m	Foshan Huaxin Packaging Co Ltd		207
	20,000		FP Corp		1,124
	288,147		Franco-Nevada Corp		20,132
	3,618,522		Freeport-McMoRan Copper & Gold, Inc (Class B)		39,297
	413,654		Fresnillo plc		9,706
	31,605		Frutarom Industries Ltd		1,663
	94,201		Fuchs Petrolub AG. (Preference)		4,301
	2,709,200	e	Fufeng Group Ltd		1,264
	17,852		Fuji Seal International, Inc		736
	15,100		Fujimi, Inc		228
	12,900		Fujimori Kogyo Co Ltd		305
	1,468,000	e	Furukawa-Sky Aluminum Corp		4,416
	2,233,800	e	Fushan International Energy Group Ltd		507
	13,100	*	Fuso Chemical Co Ltd		268
	97,904		FutureFuel Corp		1,104
	3,010,298	*,e	Galaxy Resources Ltd		750
	1,199,053	*	GCP Applied Technologies, Inc		33,957
	172,794		Gem Diamonds Ltd		277
	953,612		Gerdau S.A. (Preference)		2,598
	6,687		Givaudan S.A.		13,633
	11,622,561	*	Glencore Xstrata plc		31,825
	409,959		Gloria Material Technology Corp		232
	40,100		Godo Steel Ltd		717
	86,086		Godrej Industries Ltd		557
	949,783		Gold Fields Ltd		4,604
	124,153	*,e	Gold Resource Corp		921
	1,160,062		Goldcorp, Inc		19,144
	8,419,418		Goldsun Development & Construction Co Ltd		2,054
	4,543,000		Grand Pacific Petrochemical		2,301
	207,898		Granges AB		2,121
	1,883,103		Graphic Packaging Holding Co		26,345
	605,755	*,m	Great Basin Gold Ltd		5
	149,000		Great China Metal Industry		110
	2,006,000		Greatview Aseptic Packaging Co		1,074
	42,000		Green Seal Holding Ltd		207
	12,797	e	Greif, Inc		775
	58,407		Greif, Inc (Class A)		2,896

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,017,638		G-Resources Group Ltd	$	887
	497,066		Grupo Argos S.A.		3,210
	5,397,844		Grupo Mexico S.A. de C.V. (Series B)		13,190
	85,757		Gubre Fabrikalari TAS		138
	33,234		Gujarat Flourochemicals		261
	487,361	*	Guyana Goldfields, Inc		3,042
	159,212		H.B. Fuller Co		7,399
	29,222		Han Kuk Carbon Co Ltd		163
	6,374	*	Handy & Harman Ltd		134
	10,812		Hanil Cement Manufacturing		746
	8,557		Hansol Chemical Co Ltd		682
	33,437	*	Hansol Paper Co		208
	62,978		Hansol Paper Co Ltd		1,182
	482,535		Hanwha Chemical Corp		10,689
	820,073		Harmony Gold Mining Co Ltd		2,857
	22,432	e	Hawkins, Inc		972
	27,259		Haynes International, Inc		1,012
	171,373	*	Headwaters, Inc		2,900
	888,371	e	Hecla Mining Co		5,064
	100,658		HeidelbergCement AG.		9,519
	202,263	e	Hexpol AB		1,814
	1,200,947		Hindalco Industries Ltd		2,764
	286,182		Hitachi Chemical Co Ltd		6,576
	226,434		Hitachi Metals Ltd		2,786
	750,702	*	Ho Tung Chemical Corp		175
	422,867		Hochschild Mining plc		1,589
	135,029	e	Hokuetsu Paper Mills Ltd		814
	89,892		Holcim Ltd		4,869
	40,491		Holmen AB (B Shares)		1,442
	52,613		Honam Petrochemical Corp		14,342
	282,970		HS Industries Co Ltd		2,378
	29,649		HSIL Ltd		152
	1,905,000	*	Huabao International Holdings Ltd		736
	231,420		Huaxin Cement Co Ltd		157
	570,300	m	Hubei Sanonda Co Ltd		501
	19,264		Huchems Fine Chemical Corp		351
	193,688		HudBay Minerals, Inc		766
	197,712		Huhtamaki Oyj		9,209
	480,000	*	Huili Resources Group Ltd		88
	435,079		Huntsman Corp		7,079
	44,234		Hyosung Corp		5,256
	90,225		Hyundai Steel Co		4,194
	589,052	*	IAMGOLD Corp		2,380
	163,037	g	Ibstock plc		341
	14,800	e	Ihara Chemical Industry Co Ltd		132
	346,425		Iluka Resources Ltd		1,678
	59,247		IMCD Group NV		2,602
	7,434		Imerys S.A.		537
	767,479	*	Impala Platinum Holdings Ltd		3,878
	45,092	*,e	Imperial Metals Corp		209
	2,402,703		Incitec Pivot Ltd		5,222
	377,035		Independence Group NL		1,217

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	143,698		India Cements Ltd	$	311
	989,878		Indorama Ventures PCL (Foreign)		811
	131,800	*,e	Industrias CH SAB de C.V.		588
	170,426		Industrias Penoles S.A. de C.V.		4,097
	106,442	*,e	Ingevity Corp		4,907
	272,320		Inner Mongolia Eerduosi Resourses Co Ltd		270
	90,582		Innophos Holdings, Inc		3,535
	145,755		Innospec, Inc		8,863
	57,095	*	Interfor Corp		648
	60,915		International Flavors & Fragrances, Inc		8,709
	1,506,985		International Paper Co		72,305
	134,780		Intertape Polymer Group, Inc		2,326
	73,600	*	Ishihara Sangyo Kaisha Ltd		465
	554,112		Israel Chemicals Ltd		2,159
	6,018		Israel Corp Ltd		987
	157,205		Italcementi S.p.A.		1,868
	3,120	e	Italmobiliare S.p.A.		157
	528,741	*	Ivanhoe Mines Ltd		919
	31,459	*,m	Jacana Minerals Ltd		5
	470,169		James Hardie Industries NV		7,361
	46,820	*	Jastrzebska Spolka Weglowa S.A.		647
	332,100		Jaya Tiasa Holdings BHD		106
	542,052		JFE Holdings, Inc		7,924
	1,611,445		Jiangxi Copper Co Ltd		1,851
	297,202	*	Jindal Steel & Power Ltd		340
	219,848	*,e	Jinshan Gold Mines, Inc		538
	16,154		JK Cement Ltd		212
	27,652		JK Lakshmi Cement Ltd		207
	171,698		Johnson Matthey plc		7,324
	39,300		JSP Corp		892
	159,365		JSR Corp		2,505
	91,825		JSW Steel Ltd		2,389
	358,985	e	K&S AG.		6,817
	90,474		Kaiser Aluminum Corp		7,825
	195,638		Kaneka Corp		1,549
	207,865		Kansai Nerolac Paints Ltd		1,127
	299,424	e	Kansai Paint Co Ltd		6,564
	84,000	e	Kanto Denka Kogyo Co Ltd		763
	323,481		Kapstone Paper and Packaging Corp		6,120
	657,106		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		278
	193,939	*	KAZ Minerals plc		554
	82,570		Kemira Oyj		1,118
	256,797		KGHM Polska Miedz S.A.		5,004
	2,547,713	*	Kinross Gold Corp		10,739
	254,424	*	Kirkland Lake Gold, Inc		1,930
	18,729		KISCO Corp		705
	5,136		KISWIRE Ltd		182
	621,051		Klabin S.A.		3,254
	2,552,700		Klabin S.A. (Preference)		2,182
	122,032	*	Klondex Mines Ltd		701
	19,992		KMG Chemicals, Inc		566

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,304,000	*	Ko Yo Chemical Group Ltd	$	70
	24,000		Koatsu Gas Kogyo Co Ltd		161
	347,280	e	Kobe Steel Ltd		3,150
	40,283		Kolon Industries, Inc		3,043
	24,200		Konishi Co Ltd		303
	1,031		Konya Cimento Sanayii		90
	138,548	*	Koppers Holdings, Inc		4,458
	19,055		Korea Kumho Petrochemical		1,220
	20,722		Korea Petrochemical Ind Co Ltd		4,053
	10,083		Korea Zinc Co Ltd		4,424
	359,853		Koza Altin Isletmeleri AS		2,030
	114,583	*	Kraton Polymers LLC		4,015
	144,656	e	Kronos Worldwide, Inc		1,199
	1,491,000	*,e	KuangChi Science Ltd		575
	15,912		Kukdo Chemical Co Ltd		801
	38,800	e	Kumiai Chemical Industry Co Ltd		205
	1,937		Kumkang Kind Co Ltd		87
	711,289		Kuraray Co Ltd		10,552
	40,800	e	Kureha CORP		1,493
	94,400		Kyoei Steel Ltd		1,791
	156,060	e	Labrador Iron Ore Royalty Corp		1,653
	384,031		Lafarge Malayan Cement BHD		735
	551		LafargeHolcim Ltd		30
	621,302		Lanxess AG.		38,674
	4,653,000		Lee & Man Paper Manufacturing Ltd		4,251
	2,687,448		LEE Chang Yung Chem IND Corp		3,308
	38,686		Lenzing AG.		4,518
	53,342		LG Chem Ltd		11,798
	9,488		LG Chem Ltd (Preference)		1,423
	782,224		Linde AG.		132,916
	40,700		Lintec Corp		815
	18,611		Lock & Lock Co Ltd		211
	1,373,901		Long Chen Paper Co Ltd		663
	235,092	*	Lonmin plc		608
	2,323,792	*	Louisiana-Pacific Corp		43,757
	51,211	*,e	LSB Industries, Inc		439
	1,304,268		Lucara Diamond Corp		3,887
	476,000		Luks Group Vietnam Holdings Ltd		167
	594,999	*	Lundin Mining Corp		2,354
	720,290		LyondellBasell Industries AF S.C.A		58,099
	83,375		Madras Cements Ltd		747
	59,803	*	MAG. Silver Corp		901
	32,260	*	Magnesita Refratarios S.A.		216
	94,297	e	Major Drilling Group International		456
	53,506		Martin Marietta Materials, Inc		9,583
	48,272		Maruichi Steel Tube Ltd		1,669
	49,475		Materion Corp		1,519
	20,248	*	Max Ventures & Industries Ltd		15
	199,842		Metals X Ltd		231
	579,800		Metalurgica Gerdau S.A.		611
	60,498		Methanex Corp		2,155
	1,382,391		Mexichem SAB de C.V.		3,094

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,196,000	e	Midas Holdings Ltd	$	371
	948,700	*,e	Minera Frisco SAB de C.V.		661
	142,141		Minerals Technologies, Inc		10,048
	13,580		Miquel y Costas & Miquel S.A.		584
	1,638,965		Mitsubishi Chemical Holdings Corp		10,275
	486,079		Mitsubishi Gas Chemical Co, Inc		6,959
	210,469		Mitsubishi Materials Corp		5,757
	74,600	*,e	Mitsubishi Paper Mills Ltd		504
	82,000		Mitsubishi Steel Manufacturing Co Ltd		136
	1,527,066		Mitsui Chemicals, Inc		7,264
	486,000		Mitsui Mining & Smelting Co Ltd		1,018
	622,412		MMC Norilsk Nickel PJSC (ADR)		9,948
	1,468,000	*,e	MMG Ltd		371
	66,841		MOIL Ltd		247
	128,621		Mondi Ltd		2,703
	1,338,909		Mondi plc		28,130
	12,981	*,m	Mongolian Metals Corporation		0
	1,632,694	n	Monsanto Co		166,861
	4,158		Monsanto India Ltd		149
	381,957	e	Mosaic Co		9,343
	320,004		Mpact Ltd		774
	157,349	e	M-real Oyj (B Shares)		932
	2,864,033	*	Multi Packaging Solutions International Ltd		41,271
	51,232		Myers Industries, Inc		665
	66,841		Mytilineos Holdings S.A.		314
	51,200	*	Nakayama Steel Works Ltd		337
	22,789		Namhae Chemical Corp		177
	549,952		Nampak Ltd		780
	5,506,071		Nan Ya Plastics Corp		10,936
	817,855		Nantex Industry Co Ltd		589
	74,952		Neenah Paper, Inc		5,922
	23,200		Neturen Co Ltd		178
	563,139		Nevsun Resources Ltd		1,704
	890,037	*	New Gold, Inc		3,860
	1,347,676	*	Newcrest Mining Ltd		22,749
	28,699		NewMarket Corp		12,321
	1,763,113		Newmont Mining Corp		69,273
	1,028,250		Nickel Asia Corp		153
	33,900	e	Nihon Nohyaku Co Ltd		172
	74,600		Nihon Parkerizing Co Ltd		1,089
	2,071,902		Nine Dragons Paper Holdings Ltd		1,954
	78,900	*,e	Nippon Denko Co Ltd		133
	170,000		Nippon Kayaku Co Ltd		1,831
	2,136,000	e	Nippon Light Metal Holdings Co Ltd		4,609
	166,932	e	Nippon Paint Co Ltd		5,586
	310,400	e	Nippon Paper Industries Co Ltd		5,679
	37,600		Nippon Shokubai Co Ltd		2,349
	138,000	e	Nippon Soda Co Ltd		590
	762,145		Nippon Steel Corp		15,639
	101,700		Nissan Chemical Industries Ltd		3,092
	132,400		Nisshin Steel Holdings Co Ltd		1,794
	21,900		Nittetsu Mining Co Ltd		851

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	153,163		Nitto Denko Corp	$	9,947
	310,921		NOF Corp		3,165
	192,087		Norbord, Inc		4,934
	1,564,660		Norsk Hydro ASA		6,765
	10,710,000	*	North Mining Shares Co Ltd		212
	586,981	*,e	Northam Platinum Ltd		2,229
	2,427,993		Northern Star Resources Ltd		8,604
	194,002	*	Novagold Resources, Inc		1,084
	15,676		Novolipetsk Steel (GDR)		204
	38,476		Novozymes AS		1,697
	908,175		Nucor Corp		44,909
	733,007		Nufarm Ltd		5,295
	68,970	*,e	Nyrstar NV		507
	156,000	*	Ocean Plastics Co Ltd		126
	1,687,929		OceanaGold Corp		5,069
	18,188	e	OCI Co LTD		1,557
	72,421	*,e	OCI NV		1,067
	21,387		Oeneo S.A.		202
	841,143		OJI Paper Co Ltd		3,334
	42,000	e	Okamoto Industries, Inc		527
	7,404,549	e	Olin Corp		151,941
	25,830		Olympic Steel, Inc		571
	57,950		Omnia Holdings Ltd		714
	292,098	*	Omnova Solutions, Inc		2,465
	257,953		Orica Ltd		3,022
	42,181		Orient Cement Ltd		136
	501,000		Oriental Union Chemical Corp		315
	159,966	*	Orocobre Ltd		458
	2,467,266		Orora Ltd		5,984
	29,100		Osaka Steel Co Ltd		528
	86,295		Osisko Gold Royalties Ltd		945
	393,484	*	Outokumpu Oyj		2,702
	610,881	*	Owens-Illinois, Inc		11,234
	832,316		Oxiana Ltd		3,892
	115,507		Pacific Metals Co Ltd		345
	11,600		Pack Corp		312
	376,300		Packaging Corp of America		30,578
	633,706		Pact Group Holdings Ltd		3,081
	173,063		Pan American Silver Corp		3,047
	91,690		Papeles y Cartones de Europa S.A.		493
	4,173,241		Petkim Petrokimya Holding		6,326
	513,586	e	Petra Diamonds Ltd		862
	2,895,316		Petronas Chemicals Group BHD		4,656
	143,899		PH Glatfelter Co		3,120
	78,146		PI Industries Ltd		978
	1,527,670	*,e	Pilbara Minerals Ltd		570
	382,914	*,e	Platform Specialty Products Corp		3,105
	237,756		PolyOne Corp		8,039
	7,450		Poongsan		308
	95,880		Poongsan Corp		2,963
	925,313	e	Portucel Empresa Produtora de Pasta e Papel S.A.		2,661
	119,567		POSCO		24,782

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,440		POSCO Refractories & Environment Co Ltd	$	196
	1,012,488		Potash Corp of Saskatchewan		16,477
	4,255,941	e	PPC Ltd		1,671
	731,013		PPG Industries, Inc		75,557
	727,905		Praxair, Inc		87,953
	151,759	*	Premier Gold Mines Ltd		467
	349,800		Press Metal BHD		363
	122,582	*	Pretium Resources, Inc		1,259
	156,726	*	Primero Mining Corp		262
	124,747	*	Prism Cement Ltd		194
	7,742,304	*	PT Aneka Tambang Tbk		487
	1,677,200		PT Holcim Indonesia Tbk		133
	1,602,843		PT Indocement Tunggal Prakarsa Tbk		2,137
	2,723,100	*	PT Krakatau Steel Tbk		174
	8,218,300	*,m	PT Sekawan Intipratama Tbk		0	^
	3,466,538		PT Semen Gresik Persero Tbk		2,693
	2,661,657		PT Timah Tbk		167
	2,416,900		PT Wijaya Karya Beton Tbk		164
	6,648,877		PTT Global Chemical PCL (Foreign)		11,333
	23,035		Qatar National Cement Co		549
	29,590		Qatari Investors Group		412
	38,887		Quaker Chemical Corp		4,119
	47,707		Rallis India Ltd		160
	122,259		Randgold Resources Ltd		12,253
	9,550		Ratnamani Metals & Tubes Ltd		78
	101,242	e	Rayonier Advanced Materials, Inc		1,354
	66,027	*	Real Industry, Inc		404
	1,688,463		Regis Resources Ltd		4,952
	248,157		Reliance Steel & Aluminum Co		17,875
	906,767		Rengo Co Ltd		5,568
	23,560	*,e	Resolute Forest Products		111
	64,134		RHI AG.		1,704
	46,103	*	Richmont Mines, Inc		465
	481,503		Rio Tinto Ltd		19,154
	1,934,130		Rio Tinto plc		64,283
	72,007	*	Royal Bafokeng Platinum Ltd		269
	189,718		Royal Gold, Inc		14,690
	288,667		RPC Group plc		3,587
	162,193		RPM International, Inc		8,713
	129,491	*,e	Ryerson Holding Corp		1,462
	14,681		Sa des Ciments Vicat		948
	61,000		Sakai Chemical Industry Co Ltd		198
	97,100		Sakata INX Corp		1,179
	172,497		Salzgitter AG.		5,655
	2,716		Sam Kwang Glass Ind Co Ltd		180
	16,930		Samsung Fine Chemicals Co Ltd		485
	376,651		San Fang Chemical Industry Co Ltd		438
	119,231		Sandfire Resources NL		465
	117,664	*,e	Sandstorm Gold Ltd		595
	34,400		Sanyo Chemical Industries Ltd		1,469
	402,000	*	Sanyo Special Steel Co Ltd		2,256
	1,518,270	*	Sappi Ltd		7,855

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	849,411	*	Saracen Mineral Holdings Ltd	$	930
	272,177		Satipel Industrial S.A.		720
	120,415		Scapa Group plc		420
	358,435	*	Schmolz + Bickenbach AG.		244
	94,878		Schnitzer Steel Industries, Inc (Class A)		1,983
	193,172		Schweitzer-Mauduit International, Inc		7,449
	559,600		Scientex BHD		896
	122,069		Scotts Miracle-Gro Co (Class A)		10,165
	31,202	*,e	Seabridge Gold, Inc		344
	59,859		Seah Besteel Corp		1,368
	17,648		SeAH Steel Corp		1,027
	1,037,495		Sealed Air Corp		47,538
	888,000		Sekisui Plastics Co Ltd		6,399
	1,256,249	*	SEMAFO, Inc		5,228
	36,909		Semapa-Sociedade de Investimento e Gestao		472
	103,703		Sensient Technologies Corp		7,861
	1,927,849		Sesa Sterlite Ltd		5,003
	722,045		Severstal (GDR)		8,713
	32,481	g	SH Kelkar & Co Ltd		149
	1,390,000		Shandong Chenming Paper Holdings Ltd		1,386
	1,947,929		Shandong Chenming Paper Holdings Ltd (Class B)		1,775
	386,700	*	Shanghai Chlor-Alkali Chemical Co Ltd		310
	161,987		Shanghai Yaohua Pilkington Glass Co Ltd		115
	18,464		Sharda Cropchem Ltd		106
	706,000		Sheen Tai Holdings Grp Co Ltd		73
	264,764		Sherwin-Williams Co		73,250
	168,000	*	Shihlin Paper Corp		167
	34,000		Shikoku Chemicals Corp		310
	12,878	*	Shine Co Ltd		375
	654,437		Shin-Etsu Chemical Co Ltd		45,662
	89,400	e	Shin-Etsu Polymer Co Ltd		600
	2,465,032		Shinkong Synthetic Fibers Corp		670
	3,534,000	*	Shougang Concord International Enterprises Co Ltd		122
	110,700		Showa Denko KK		1,394
	13,538		Shree Cement Ltd		3,469
	755,825		Siam Cement PCL (Foreign)		11,326
	1,256,042		Sibanye Gold Ltd		4,466
	288,025		Sidi Kerir Petrochemcials Co		401
	4,333		Sika AG.		21,111
	101,883		Silgan Holdings, Inc		5,154
	145,882	*	Silver Standard Resources, Inc		1,758
	747,284		Silver Wheaton Corp		20,187
	138,998	e	Sims Group Ltd		1,000
	2,012,000	e	Sinofert Holdings Ltd		256
	14,226,674	e	Sinopec Shanghai Petrochemical Co Ltd		7,225
	1,752,368	*,e	Sirius Minerals plc		738
	29,244		SK Chemicals Co Ltd		1,804
	100,826		SKC Co Ltd		2,606
	12,081		SKCKOLONPI, Inc		145
	447,491		Smurfit Kappa Group plc		10,003
	444,626		Sociedad Quimica y Minera de Chile S.A. (ADR)		11,960
	106,916		Sociedad Quimica y Minera de Chile S.A. (Class B)		2,894

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	200,560		Soda Sanayii AS	$	275
	5,494		SODIFF Advanced Materials Co Ltd		791
	287,478	m	Solar Applied Materials Technology Co		40
	35,177		Solvay S.A.		4,076
	13,920		Songwon Industrial Co Ltd		267
	115,567		Sonoco Products Co		6,105
	223,172	*	South Valley Cement		99
	9,204,432	*	South32 Ltd		17,150
	13,152	e	South32 Ltd (W/I)		25
	367,788	e	Southern Copper Corp (NY)		9,673
	171,514	*,e	Ssab Svenskt Stal AB (Series A)		500
	447,915	*	Ssab Svenskt Stal AB (Series B)		1,093
	32,389	*	Ssangyong Cement Industrial Co Ltd		482
	1,070,899	*,e	St Barbara Ltd		2,597
	1,046,075		Steel Dynamics, Inc		26,141
	136,386		Stella-Jones, Inc		4,731
	74,427		Stepan Co		5,408
	374,879	*	Stillwater Mining Co		5,008
	1,915		STO AG.		239
	1,014,466		Stora Enso Oyj (R Shares)		9,012
	353,000	*	Stornoway Diamond Corp		317
	1,179,221		Sumitomo Bakelite Co Ltd		6,168
	2,561,511		Sumitomo Chemical Co Ltd		11,382
	675,437		Sumitomo Metal Mining Co Ltd		9,329
	1,020,193		Sumitomo Osaka Cement Co Ltd		4,736
	8,000		Sumitomo Seika Chemicals Co Ltd		284
	14,712	*,e	Sumitomo Titanium Corp		206
	176,796	*	Summit Materials, Inc		3,280
	269,465		SunCoke Energy, Inc		2,161
	2,444,500	*,e,m	Superb Summit International Group Ltd		32
	9,502,100	*	Superblock PCL-Foreign		393
	84,007		Supreme Industries Ltd		1,145
	516,388		Suzano Papel e Celulose S.A.		1,662
	55,000		Swancor Ind Co Ltd		214
	91,491		Symrise AG.		6,709
	40,672		Syngenta AG.		17,812
	1,012,115		Synthos S.A.		1,152
	197,823	*,e	Syrah Resources Ltd		668
	805,080		Ta Ann Holdings BHD		697
	552,531		TA Chen Stainless Pipe		285
	667		Taekwang Industrial Co Ltd		509
	786,995		Tahoe Resources, Inc		10,097
	764,398		Tahoe Resources, Inc (Toronto)		9,800
	2,193,516		Taiheiyo Cement Corp		6,312
	3,547,728		Taiwan Cement Corp		4,046
	2,222,960		Taiwan Fertilizer Co Ltd		2,985
	243,725		Taiwan Hon Chuan Enterprise Co Ltd		381
	2,446,329		Taiwan Styrene Monomer		1,245
	13,600		Taiyo Ink Manufacturing Co Ltd		469
	257,153		Taiyo Nippon Sanso Corp		2,683
	26,700		Takasago International Corp		717
	33,000	e	Takiron Co Ltd		150

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	772,112		Tata Steel Ltd	$	4,351
	40,446		Technosemichem Co Ltd		2,251
	982,536		Teck Cominco Ltd		17,712
	1,579,604		Teijin Ltd		30,644
	33,500		Tenma Corp		535
	11,370	*,e	TerraVia Holdings, Inc		31
	24,694	*	Tessenderlo Chemie NV		827
	235,185	e	TFS Corp Ltd		268
	276,164		ThyssenKrupp AG.		6,598
	835,000	*	Tianjin TEDA Biomedical Engineering Co Ltd		132
	249,890	e	TimkenSteel Corp		2,611
	57,183		Titan Cement Co S.A.		1,350
	287,200		Toagosei Co Ltd		3,122
	26,500	e	Toho Titanium Co Ltd		191
	104,000		Toho Zinc Co Ltd		338
	616,000		Tokai Carbon Co Ltd		1,676
	7,800		Tokushu Tokai Holdings Co Ltd		278
	401,000	*,e	Tokuyama Corp		1,681
	31,500		Tokyo Ohka Kogyo Co Ltd		961
	10,980		Tokyo Rope Manufacturing Co Ltd		184
	213,200		Tokyo Steel Manufacturing Co Ltd		1,440
	660,750		Ton Yi Industrial Corp		295
	180,794	b	Tong Yang Major Corp		476
	1,632,000	*	Tongfang Kontafarma Holdings Ltd		125
	28,411	*	Tongyang Cement & Energy Corp		94
	42,900		Topy Industries Ltd		887
	483,572		Toray Industries, Inc		4,710
	74,017	*	Torex Gold Resources, Inc		1,601
	1,273,000		Tosoh Corp		7,846
	458,000		Toyo Ink Manufacturing Co Ltd		2,055
	36,300		Toyo Kohan Co Ltd		102
	110,841		Toyo Seikan Kaisha Ltd		1,960
	6,259,676		Toyobo Co Ltd		10,512
	48,225	*	Trecora Resources		551
	105,054		Tredegar Corp		1,953
	251,122		Trinseo S.A.		14,203
	488,229	e	Tronox Ltd		4,575
	552,000		TSRC Corp		510
	94,008	e	Tubacex S.A.		279
	1,453,000		Tung Ho Steel Enterprise Corp		864
	1,710,170	*	Turquoise Hill Resources Ltd		5,058
	1,710,647		UBE Industries Ltd		3,272
	15,847	*,e	UFP Technologies, Inc		420
	58,346		Ultra Tech Cement Ltd		3,379
	98,842		Umicore		6,206
	6,940		Unid Co Ltd		283
	587,868		United Phosphorus Ltd		5,967
	5,740		United States Lime & Minerals, Inc		379
	940,553	e	United States Steel Corp		17,739
	358,065		Universal Cement Corp		281
	622,532		UPC Technology Corp		208
	1,936,443		UPM-Kymmene Oyj		40,887

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,580	*	US Concrete, Inc	$	1,869
	724,870		USI Corp		327
	392,600		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		426
	2,080,044		Vale S.A.		11,391
	2,077,926		Vale S.A. (Preference)		9,840
	65,613	e	Valhi, Inc		151
	63,969		Valspar Corp		6,785
	451,465		Vedanta Resources plc		3,410
	218,659	e	Victrex plc		4,439
	10,921		Vinati Organics Ltd		102
	121,759		Voestalpine AG.		4,209
	100,944		Vulcan Materials Co		11,480
	204,792	e	Wacker Chemie AG.		17,271
	64,261		Welspun-Gujarat Stahl Ltd		68
	2,028,000	*,e	West China Cement Ltd		199
	44,701	e	West Fraser Timber Co Ltd		1,378
	201,159	e	Western Areas NL		449
	868,430		Western Forest Products, Inc		1,430
	164,448		Westlake Chemical Corp		8,798
	675,890		WestRock Co		32,767
	2,811,949		Wienerberger AG.		47,742
	150,515		Winpak Ltd		5,028
	3,094	*	Wonik Materials Co Ltd		197
	154,023	*	Worthington Industries, Inc		7,398
	768,376		WR Grace & Co		56,706
	231,100	e	W-Scope Corp		4,862
	723,000	*	Xinjiang Xinxin Mining Industry Co Ltd		79
	2,027,783	e	Yamana Gold, Inc		8,733
	90,100		Yamato Kogyo Co Ltd		2,667
	132,452		Yara International ASA		4,414
	70,573		Yeong Guan Energy Technology Group Co Ltd		388
	265,100		Yeun Chyang Industrial Co Ltd		191
	747,577		Yieh Phui Enterprise		255
	969,170	e	Yingde Gases		385
	542,000		Yip’s Chemical Holdings Ltd		221
	76,100		Yodogawa Steel Works Ltd		2,043
	2,876	*	Yonwoo Co Ltd		117
	8,118		Youlchon Chemical Co Ltd		101
	2,443,285		Yuen Foong Yu Paper Manufacturing Co Ltd		719
	622,329		Yule Catto & Co plc		2,978
	64,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		155
	39,744		Zaklady Azotowe w Tarnowie-Moscicach S.A.		641
	361,512		Zeon Corp		3,207
	778,000	e	Zhaojin Mining Industry Co Ltd		781
	20,155	e	Zignago Vetro S.p.A.		116
	8,236,731		Zijin Mining Group Co Ltd		2,639
			TOTAL MATERIALS		5,439,921
MEDIA - 2.9%
	1,691,320		ABS-CBN Holdings Corp (ADR)		1,709
	22,800	e	Adways, Inc		130
	125,306		Aimia, Inc		789

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,500	*,e	AirMedia Group, Inc (ADR)	$	86
	12,827,467	*,e	Alibaba Pictures Group Ltd		2,697
	276,382	*,e	Altice NV (Class A)		4,950
	107,762	*	Altice NV (Class B)		1,937
	75,568	e	AMC Entertainment Holdings, Inc		2,349
	736,629	*	AMC Networks, Inc		38,202
	8,000	*,e	Amuse, Inc		147
	74,398		Antena 3 de Television S.A.		816
	1,075		APG SGA S.A.		456
	141,782	*,e	APN News & Media Ltd		373
	132,014		APN Outdoor Group Ltd		558
	26,100		Asatsu-DK, Inc		695
	8,199,400	e	Asian Pay Television Trust		3,071
	1,299,670		Astro Malaysia Holdings BHD		858
	133,159		Avex Group Holdings, Inc		1,813
	40,917	e	Axel Springer AG.		2,097
	775,648		BEC World PCL (Foreign)		494
	110,937	*	Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS		157
	4,936,000	*	Big Media Group Ltd		259
	162,787	e	Borussia Dortmund GmbH & Co KGaA		888
	1,900	*,e	Brangista, Inc		36
	2,979		Cable One, Inc		1,740
	56,650	e	Cairo Communication S.p.A.		216
	56,755	*	Carmike Cinemas, Inc		1,855
	2,346,728		CBS Corp (Class B)		128,460
	68,462	*	Central European Media Enterprises Ltd (Class A)		158
	199,682	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		461
	554,080	*	Charter Communications, Inc		149,585
	67,608		Cheil Communications, Inc		987
	257,692		Cinemark Holdings, Inc		9,864
	109,476	e	Cineplex Galaxy Income Fund		4,219
	610,059		Cineworld Group plc		4,583
	23,896		CJ CGV Co Ltd		1,825
	23,806		CJ E&M Corp		1,652
	159,760		CJ Hellovision Co Ltd		1,309
	68,452	e	Clear Channel Outdoor Holdings, Inc (Class A)		400
	13,531		Cogeco Communications, Inc		668
	12,718		Cogeco, Inc		498
	10,471,792		Comcast Corp (Class A)		694,699
	98,413	*,e	Corus Entertainment, Inc		911
	39,259		CTS Eventim AG.		1,396
	109,400	e	CyberAgent, Inc		3,252
	471,463	*	Cyfrowy Polsat S.A.		3,022
	87,800	*,e,m	DA Consortium, Inc		674
	30,700		Daiichikosho Co Ltd		1,253
	2,691	*,e	Daily Journal Corp		589
	577,170	e	Daily Mail & General Trust		5,562
	43,394	*	DEN Networks Ltd		47
	182,455		Dentsu, Inc		9,287
	502,000	e	DHX Media Ltd		2,629
	5,490,000	*,e	Digital Domain Holdings Ltd		434

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	441,787	*,e	Discovery Communications, Inc (Class A)	$	11,893
	430,463	*	Discovery Communications, Inc (Class C)		11,325
	667,509	*	DISH Network Corp (Class A)		36,566
	93,610		Entercom Communications Corp (Class A)		1,211
	280,567		Entertainment One Ltd		823
	246,984		Entravision Communications Corp (Class A)		1,884
	68,647	*,e	Eros International plc		1,052
	4,000,000	*	eSun Holdings Ltd		410
	81,338		Eutelsat Communications		1,683
	137,614		EW Scripps Co (Class A)		2,188
	8,934	*	Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		110
	354,000		Fuji Television Network, Inc		4,809
	338,591		Gannett Co, Inc		3,941
	673,915	e	Gestevision Telecinco S.A.		7,989
	138,431	*	Global Eagle Entertainment, Inc		1,150
	145,122	*	Gray Television, Inc		1,503
	3,888,327		Grupo Televisa S.A.		19,979
	104,875	*	Gruppo Editoriale L’Espresso S.p.A.		88
	217,601		Hakuhodo DY Holdings, Inc		2,550
	154,776		Harte-Hanks, Inc		251
	164,733		Havas S.A.		1,394
	30,868	*,e	Hemisphere Media Group, Inc		394
	36,102		Hyundai Hy Communications & Network Co		118
	446,898	*	IBN18 Broadcast Ltd		299
	55,880	*	IHQ, Inc		107
	101,400	*,e,g	IMAX China Holding, Inc		499
	918,464	*,e	Imax Corp		26,608
	1,447,306		Informa plc		13,353
	7,589		Innocean Worldwide, Inc		506
	3,522,152		Interpublic Group of Cos, Inc		78,720
	96,919		IPSOS		3,166
	288,645		ITE Group plc		604
	6,795,192		ITV plc		16,483
	142,654		Jagran Prakashan Ltd		393
	328,218		JC Decaux S.A.		10,613
	35,087	*	Jcontentree Corp		118
	1,887,767		John Fairfax Holdings Ltd		1,371
	137,996		John Wiley & Sons, Inc (Class A)		7,122
	1,028,176	*	Juventus Football Club S.p.A.		348
	70		Kabel Deutschland Holding AG.		9
	151,032		Kadokawa Dwango Corp		2,200
	17,582		Kinepolis Group NV		818
	21,383		KT Skylife Co Ltd		312
	56,825		Lagardere S.C.A.		1,447
	83,200	*,e	Lee Enterprises, Inc		312
	23,605	*,e	Liberty Braves Group (Class A)		412
	120,225	*,e	Liberty Braves Group (Class C)		2,090
	60,352	*	Liberty Broadband Corp (Class A)		4,234
	238,681	*	Liberty Broadband Corp (Class C)		17,061
	10,529	*	Liberty Global plc		348
	146,688	*	Liberty Global plc (Class A)		5,014
	135	*	Liberty Global plc LiLAC (Class A)		4

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,160	*	Liberty Global plc LiLAC (Class C)	$	33
	51,596	*,e	Liberty Media Group (Class A)		1,478
	138,294	*	Liberty Media Group (Class C)		3,892
	284,395	*	Liberty SiriusXM Group (Class A)		9,664
	503,162	*	Liberty SiriusXM Group (Class C)		16,811
	247,772		Lions Gate Entertainment Corp		4,953
	372,147	*	Live Nation, Inc		10,227
	93,093		Loen Entertainment, Inc		6,612
	30,095	*	Loral Space & Communications, Inc		1,177
	114,781		M6-Metropole Television		2,071
	45,199	*	Madison Square Garden Co		7,657
	383,300		Major Cineplex Group PCL-Foreign		341
	718,689	e	MDC Partners, Inc		7,704
	342,289	*	Media General, Inc		6,308
	1,675,100		Media Prima BHD		535
	2,024,971		Mediaset S.p.A.		6,357
	150,000		Megacable Holdings SAB de C.V.		575
	2,320,000	*	Mei Ah Entertainment Group Ltd		184
	117,559		Meredith Corp		6,112
	157,720		Modern Times Group AB (B Shares)		4,040
	290,075	*	MSG Networks, Inc		5,398
	69,200		Multiplus S.A.		936
	13,000,000	*	Nan Hai Corp Ltd		350
	2,900		Nasmedia Co Ltd		113
	826,293		Naspers Ltd (N Shares)		143,009
	162,877		National CineMedia, Inc		2,398
	93,324		New Media Investment Group, Inc		1,447
	292,422		New York Times Co (Class A)		3,494
	383,128		News Corp		5,356
	113,108		News Corp (Class B)		1,608
	69,770	e	Nexstar Broadcasting Group, Inc (Class A)		4,026
	43,600	e	Next Co Ltd		359
	13,519	*	Next Entertainment World Co Ltd		135
	772,352		Nine Entertainment Co Holdings Ltd		628
	298,291		Omnicom Group, Inc		25,355
	238,107		oOh!media Ltd		909
	1,172,243		Pearson plc		11,459
	1,222,000		Phoenix Satellite Television Holdings Ltd		258
	443,900		Plan B Media PCL		67
	83,900		Poly Culture Group Corp Ltd		218
	52,829	*	Promotora de Informaciones S.A.		338
	779,686		ProSiebenSat. Media AG.		33,429
	11,400		Proto Corp		132
	7,073,615		PT Global MediaCom Tbk		484
	5,857,638		PT Media Nusantara Citra Tbk		910
	191,096		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		1,300
	5,990,236		PT Surya Citra Media Tbk		1,289
	6,492,500	*	PT Visi Media Asia Tbk		134
	254,960		Publicis Groupe S.A.		19,292
	19,332		PVR Ltd		345
	201,893	e	Quebecor, Inc		6,136

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,292	*,e	Radio One, Inc	$	177
	130,318	g	RAI Way S.p.A		528
	369	*,e	RCS MediaGroup S.p.A.		0	^
	90,603		REA Group Ltd		3,941
	40,084	*	Reading International, Inc		535
	2,837,235		Reed Elsevier NV		50,749
	2,083,789		Reed Elsevier plc		39,516
	329,110	e	Regal Entertainment Group (Class A)		7,158
	407,000		RS PCL		95
	301,574		RTL Group		25,053
	8,933		Saga Communications, Inc		405
	22,518		Salem Communications		132
	120,151		Sanoma-WSOY Oyj		1,145
	36,431		SBS Media Holdings Co Ltd		96
	10,716		Schibsted ASA		316
	99,714	e	Schibsted ASA (B Shares)		2,675
	62,639		Scholastic Corp		2,465
	305,759		Scripps Networks Interactive (Class A)		19,413
	129,000	e	Septeni Holdings Co Ltd		576
	135,235		SES Global S.A.		3,321
	347,869		Shaw Communications, Inc (B Shares)		7,119
	73,000		Shochiku Co Ltd		888
	27,836		SHOWBOX Corp		158
	154,082		Sinclair Broadcast Group, Inc (Class A)		4,450
	1,142,901	e	Singapore Press Holdings Ltd		3,203
	81,662	e	Sirius XM Canada Holdings, Inc		296
	4,352,494	*,e	Sirius XM Holdings, Inc		18,150
	1,219,447		Sky Network Television Ltd		4,374
	775,900		Sky Perfect Jsat Corp		3,814
	9,244,900		Sky plc		107,149
	15,527	*	SM Entertainment Co		393
	5,100,000	e	SMI Holdings Group Ltd		509
	58,100		Smiles S.A.		964
	95,150	e	Societe Television Francaise 1		923
	27,715	*,e	Solocal Group		119
	1,904,147		Southern Cross Media Group		2,151
	529,263	*	Starz-Liberty Capital		16,508
	22,655	e	Stroer Out-of-Home Media AG.		986
	136,402		Sun TV Network Ltd		1,037
	585,000		T4F Entretenimento S.A.		1,076
	280,209		TEGNA, Inc		6,125
	43,777	*	Telenet Group Holding NV		2,287
	759,043		Television Broadcasts Ltd		2,906
	165,217	*	Ten Network Holdings Ltd		175
	738,076	e	Thomson Corp		30,542
	4,375,334		Time Warner, Inc		348,320
	303,200		Time, Inc		4,390
	41,200	e	Toei Animation Co Ltd		2,074
	776,885	e	Toei Co Ltd		6,298
	81,223		Toho Co Ltd		2,698
	124,900		Tohokushinsha Film Corp		815
	180,000		Tokyo Broadcasting System, Inc		2,819

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	934,000	*	Tom Group Ltd	$	251
	16,259	*	Townsquare Media, Inc		152
	290,301		Tribune Co		10,602
	101,300	*	tronc, Inc		1,710
	148,800		TV Asahi Corp		2,744
	1,001,600	e	TV Azteca S.A. de C.V.		161
	2,476,405		Twenty-First Century Fox, Inc		59,979
	1,048,513		Twenty-First Century Fox, Inc (Class B)		25,940
	1,034,734		UBM plc		9,565
	184,946		Usen Corp		567
	1,475,400		VGI Global Media PCL		237
	566,700		VHQ Media Holdings Ltd		3,408
	16,057	e,n	Viacom, Inc		688
	2,039,665		Viacom, Inc (Class B)		77,711
	147,836	*,e	Videocon d2h Ltd (ADR)		1,446
	66,171	e	Village Roadshow Ltd		252
	2,517,600	*,e	Viva China Holdings Ltd		238
	527,825		Vivendi Universal S.A.		10,653
	4,986,354		Walt Disney Co		463,033
	2,883,229	e	West Australian Newspapers Holdings Ltd		1,624
	661,000	e	Wisdom Holdings Group		236
	21,412	*	Woongjin Thinkbig Co Ltd		217
	119,800		Workpoint Entertainment PCL		120
	108,585	e	World Wrestling Entertainment, Inc (Class A)		2,313
	4,900		Wowow, Inc		135
	857,248		WPP AUNZ Ltd		723
	3,448,240		WPP plc		81,053
	35,901	*	Yellow Pages Ltd		561
	7,725		YG Entertainment, Inc		226
	4,303,680	*	Zee Entertainment Enterprises Ltd		6,033
	879,200		ZEE Telefilms Ltd		7,237
	19,900		Zenrin Co Ltd		354
			TOTAL MEDIA		3,285,908
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.8%
	1,425,000	*,e,g	3SBio, Inc		1,619
	13,386	*,e	AB Science S.A.		178
	4,941,468		AbbVie, Inc		311,658
	320,885		Abcam plc		3,492
	50,170	*,e	Ablynx NV		631
	204,348	*,e	Acadia Pharmaceuticals, Inc		6,500
	53,486	*,e	Accelerate Diagnostics, Inc		1,458
	63,423	*	Acceleron Pharma, Inc		2,295
	95,562	*,e	AcelRx Pharmaceuticals, Inc		372
	413,575	*,e	Achillion Pharmaceuticals, Inc		3,350
	22,048	*	Aclaris Therapeutics, Inc		565
	128,362	*	Acorda Therapeutics, Inc		2,680
	184,420		Actelion Ltd		32,003
	41,301	*,e	Adamas Pharmaceuticals, Inc		678
	53,806	e	Adcock Ingram Holdings Ltd		181
	3,484	*,e	Adocia		202

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,586	*,e	Aduro Biotech, Inc	$	1,499
	81,694	*,e	Advaxis, Inc		873
	78,371	*	Adverum Biotechnologies, Inc		322
	95,619	*	Aerie Pharmaceuticals, Inc		3,609
	169,729	*,e	Agenus, Inc		1,219
	33,362	*,e	Agile Therapeutics, Inc		233
	1,537,316		Agilent Technologies, Inc		72,392
	57,809	*,e	Agios Pharmaceuticals, Inc		3,053
	64,097	*,e	Aimmune Therapeutics, Inc		961
	40,099		Ajanta Pharma Ltd		1,211
	82,899	*,e	Akebia Therapeutics, Inc		750
	286,358	*	Akorn, Inc		7,806
	63,205	*,e	Albany Molecular Research, Inc		1,044
	107,648	*,e	Alder Biopharmaceuticals, Inc		3,528
	87,938		Alembic Pharmaceuticals Ltd		867
	1,025,954	*	Alexion Pharmaceuticals, Inc		125,720
	4,940	e	ALK-Abello AS		701
	160,176	*	Alkermes plc		7,533
	1,974,297	*	Allergan plc		454,700
	124,476	*,e	Alnylam Pharmaceuticals, Inc		8,437
	101,903	*,e	AMAG Pharmaceuticals, Inc		2,498
	2,201,645		Amgen, Inc		367,257
	6,848		Amicogen, Inc		345
	327,561	*,e	Amicus Therapeutics, Inc		2,424
	112,023	*,e	Amphastar Pharmaceuticals, Inc		2,125
	112,193	*,e	Ampio Pharmaceuticals, Inc		83
	95,078	*,e	Anavex Life Sciences Corp		345
	37,000	*,e	AnGes MG, Inc		100
	19,059	*,e	ANI Pharmaceuticals, Inc		1,265
	105,725	*,e	Anthera Pharmaceuticals, Inc		333
	70,127	*	Applied Genetic Technologies Corp		686
	183,537	*	Aptevo Therapeutics, Inc		470
	110,140	*,e	Aralez Pharmaceuticals, Inc		534
	318,807	*,e	Aratana Therapeutics, Inc		2,984
	68,610	*,e	Ardelyx, Inc		888
	587,594	*,e	Arena Pharmaceuticals, Inc		1,028
	29,975	*,e	Argos Therapeutics, Inc		149
	422,134	*,e	Ariad Pharmaceuticals, Inc		5,779
	520,474	*,e	Array Biopharma, Inc		3,513
	145,843	*,e	Arrowhead Research Corp		1,072
	173,242		Ascendis Health Ltd		355
	35,700	e	ASKA Pharmaceutical Co Ltd		657
	391,880		Aspen Pharmacare Holdings Ltd		8,850
	3,371,903		Astellas Pharma, Inc		52,666
	67,440	*,e	Asterias Biotherapeutics, Inc		286
	5,855	*	AstraZeneca Pharma India Ltd		82
	1,015,418		AstraZeneca plc		65,750
	484,986	e	AstraZeneca plc (ADR)		15,937
	51,996	*,e	Atara Biotherapeutics, Inc		1,112
	8,348	*	ATGen Co Ltd		313
	230,188	*,e	Athersys, Inc		490
	489,709		Aurobindo Pharma Ltd		6,304

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,022	*,e	Avexis, Inc	$	619
	59,681	*,e	Axovant Sciences Ltd		836
	25,430	*,e	Axsome Therapeutics, Inc		200
	10,018	*	Basilea Pharmaceutica		795
	25,455	*,e	Bavarian Nordic AS		964
	1,245,929		Bayer AG.		125,129
	552,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd		818
	50,534	*,e	Bellicum Pharmaceuticals, Inc		1,006
	26,190	*	Binex Co Ltd		414
	146,186		Biocon Ltd		2,053
	331,598	*,e	BioCryst Pharmaceuticals, Inc		1,462
	81,150	*,e	BioDelivery Sciences International, Inc		219
	12,441		Biogaia AB (B Shares)		363
	717,086	*	Biogen Idec, Inc		224,469
	726,205	*	BioMarin Pharmaceutical, Inc		67,188
	200,884	*,e	Bio-Path Holdings, Inc		281
	80,788	*	Bio-Rad Laboratories, Inc (Class A)		13,234
	30,909	*	Biospecifics Technologies Corp		1,412
	125,481		Bio-Techne Corp		13,740
	5,876		Biotest AG.		111
	15,712		Biotest AG. (Preference)		226
	152,937	*,e	BioTime, Inc		596
	233,024	*,e	Biovitrum AB		2,896
	85,913	*,e	Bluebird Bio, Inc		5,823
	48,397	*,e	Blueprint Medicines Corp		1,437
	13,010		Boiron S.A.		1,323
	19,462		Boryung Pharmaceutical Co Ltd		1,217
	4,727,980		Bristol-Myers Squibb Co		254,933
	293,718		Bruker BioSciences Corp		6,653
	314,104	*	BTG plc		2,580
	17,394		Bukwang Pharmaceutical Co Ltd		459
	153,721		Cadila Healthcare Ltd		897
	163,482	*	Cambrex Corp		7,268
	148,681	*,e	Cara Therapeutics Inc		1,241
	3,494		Caregen Co Ltd		326
	369,205	*	Catalent, Inc		9,540
	2,561,291	*	Celgene Corp		267,732
	5,571		Cell Biotech Co Ltd		244
	216,837	*,e	Celldex Therapeutics, Inc		876
	19,978	*,e	Cellectis S.A.		481
	10,778	*	Celltrion Pharm Inc		239
	83,979	*,e	Celltrion, Inc		8,152
	27,925	*,e	Cellular Biomedicine Group, Inc		405
	4,523	*,e	Celyad S.A.		96
	103,781	*,e	Cempra, Inc		2,511
	148,411	*	Center Laboratories, Inc		325
	207,234	*	Cepheid, Inc		10,919
	182,426	*	Charles River Laboratories International, Inc		15,203
	45,761	*,e	ChemoCentryx, Inc		276
	105,412	*,e	Chimerix, Inc		584
	10,235,300	*,e,m	China Animal Healthcare Ltd		13
	1,560,900		China Medical System Holdings Ltd		2,639

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,355,000	*,e	China Regenerative Medicine International Ltd	$	703
	700,000	e	China Shineway Pharmaceutical Group Ltd		723
	2,635		Chong Kun Dang Pharm Corp		184
	5,287		Chong Kun Dang Pharmaceutical Corp		489
	10,546		Choongwae Pharma Corp		840
	62,896	*,e	ChromaDex Corp		187
	201,400		Chugai Pharmaceutical Co Ltd		7,279
	27,749	*,e	Cidara Therapeutics, Inc		318
	601,464		Cipla Ltd		5,248
	2,556,000	e	CK Life Sciences International Holdings, Inc		235
	73,144	e	Clinigen Group plc		681
	116,343	*,e	Clovis Oncology, Inc		4,194
	62,281	*	CMG Pharmaceutical Co Ltd		224
	7,100	e	CMIC Co Ltd		108
	442,123	*,e	Coherus Biosciences, Inc		11,840
	32,894	*,e	Collegium Pharmaceutical, Inc		634
	93,308	*,e	Concert Pharmaceuticals Inc		943
	32,504	e	Concordia International Corp		145
	889,000	e	Consun Pharmaceutical Group Ltd		521
	239,933	*,e	Corcept Therapeutics, Inc		1,560
	4,583	*,e	Corvus Pharmaceuticals, Inc		75
	6,766	e	COSMO Pharmaceuticals NV		1,079
	17,373	*	CrystalGenomics, Inc		388
	690,385		CSL Ltd		56,771
	10,993,961		CSPC Pharmaceutical Group Ltd		11,038
	11,387	*	CTC BIO, Inc		120
	500,949	*,e	Curis, Inc		1,307
	82,473	*,e	Cytokinetics, Inc		757
	50,872	*,e	CytomX Therapeutics, Inc		798
	166,422	*,e	CytRx Corp		98
	10,252		Dae Hwa Pharmaceutical Co Ltd		347
	7,535	*	Daehan New Pharm Co Ltd		114
	50,926		Daewon Pharmaceutical Co Ltd		873
	7,689		Daewoong Co Ltd		368
	4,316		Daewoong Pharmaceutical Co Ltd		319
	1,150,183		Daiichi Sankyo Co Ltd		27,637
	1,232,000		Dawnrays Pharmaceutical Holdings Ltd		808
	13,860	*,e	DBV Technologies S.A.		1,010
	186,599	*,e,m	Depomed, Inc		4,832
	97,925	*	Dermira, Inc		3,312
	32,033	*,e	Dimension Therapeutics, Inc		256
	290,344		Dishman Pharmaceuticals & Chemicals Ltd		1,135
	116,195		Divi S Laboratories Ltd		2,257
	14,894		Dong-A Pharmaceutical Co Ltd		2,459
	3,482		Dong-A ST Co Ltd		346
	25,746		DongKook Pharmaceutical Co Ltd		1,403
	198,839		Dr Reddy’s Laboratories Ltd		9,278
	338,781	*,e	Durect Corp		471
	92,330	*,e	Dynavax Technologies Corp		969
	19,807	*,e	Eagle Pharmaceuticals, Inc		1,386
	33,057	*,e	Edge Therapeutics, Inc		344
	15,817	*,e	Editas Medicine, Inc		213

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	57,939	*,e	Egalet Corp	$	441
	8,362	*	Eiger BioPharmaceuticals, Inc		112
	263,161		Eisai Co Ltd		16,459
	3,936,391		Eli Lilly & Co		315,935
	75,707	*	Emergent Biosolutions, Inc		2,387
	51,529	*,e	Enanta Pharmaceuticals, Inc		1,371
	749,376	*	Endo International plc		15,100
	106,799	*,e	Endocyte, Inc		330
	279,765	*	Enzo Biochem, Inc		1,424
	97,159	*	Epizyme, Inc		956
	80,400		EPS Co Ltd		1,104
	35,611	*,e	Esperion Thereapeutics, Inc		493
	18,563		Eurofins Scientific		8,433
	95,624	*	Evotec AG.		540
	266,917	*,e	Exact Sciences Corp		4,957
	1,013,121	*,e	Exelixis, Inc		12,958
	488,227		Faes Farma S.A. (Sigma)		1,884
	86,030		FDC Ltd		278
	211,306	*	FibroGen, Inc		4,374
	163,482	*,e	Five Prime Therapeutics, Inc		8,581
	26,861	*,e	Flex Pharma, Inc		316
	61,797	*,e	Flexion Therapeutics Inc		1,208
	67,104	*,e	Fluidigm Corp		538
	88,276	*,e	Fortress Biotech, Inc		262
	33,021	*,e	Foundation Medicine, Inc		771
	61,000		Fuji Pharma Co Ltd		1,621
	32,089	*	Galapagos NV		2,065
	520,828	*,e	Galena Biopharma, Inc		182
	8,794	*	Genexine Co Ltd		390
	18,540	*,e	Genfit		488
	75,756	*	Genmab AS		12,966
	56,476	*	Genomic Health, Inc		1,633
	738,800	*,e	Genomma Lab Internacional S.A. de C.V.		773
	73,443		Genus plc		1,854
	327,419	*,e	Geron Corp		740
	36,027		Gerresheimer AG.		3,063
	4,317,151		Gilead Sciences, Inc		341,573
	11,496,406		GlaxoSmithKline plc		244,856
	152,497		Glenmark Pharmaceuticals Ltd		2,120
	52,590	*,e	Global Blood Therapeutics, Inc		1,212
	23,615	*,e	GlycoMimetics Inc		169
	46,785		Granules India Ltd		82
	5,466		Green Cross Corp		905
	22,020		Green Cross Holdings Corp		575
	9,300	*,e	GreenPeptide Co Ltd		64
	80,460		Grifols S.A.		1,734
	253,037	*,e	GW Pharmaceuticals plc		2,774
	1,774,951	*	H Lundbeck AS		58,295
	246,900	*,e	Halozyme Therapeutics, Inc		2,983
	21,776	*	Han All Pharmarceutical Co		367
	3,997		Handok Pharmaceuticals Co Ltd		107
	14,054		Hanmi Holdings Co Ltd		1,465

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,073		Hanmi Pharm Co Ltd	$	2,822
	6,600	*,e	HEALIOS KK		141
	72,372	*,e	Heron Therapeutics, Inc		1,247
	31,712	*	Heska Corp		1,726
	125,658		Hikma Pharmaceuticals plc		3,282
	117,413		Hisamitsu Pharmaceutical Co, Inc		6,346
	383,903	*,e	Horizon Pharma plc		6,960
	11,004,062	e,m	Hua Han Bio-Pharmaceutical Holdings Ltd		758
	2,177	*	Hugel, Inc		845
	4,558		Humedix Co Ltd		155
	3,072	*	Huons Co Ltd		180
	15,965	*	Hutchison China MediTech Ltd		374
	226,622	*,e	Idera Pharmaceuticals, Inc		580
	121,816	*	Ignyta, Inc		766
	16,587		Il Dong Holdings Co Ltd		474
	46,614	*	Il Dong Pharmaceutical Co Ltd		961
	393,185	*	Illumina, Inc		71,426
	12,384	*	Ilyang Pharmaceutical Co Ltd		558
	31,106	*,e	Immune Design Corp		236
	223,573	*,e	Immunogen, Inc		599
	199,290	*,e	Immunomedics, Inc		648
	188,359	*	Impax Laboratories, Inc		4,464
	189,157	*	INC Research Holdings, Inc		8,433
	489,367	*	Incyte Corp		46,142
	2,257,533		Indivior plc		8,978
	19,038		Indoco Remedies Ltd		90
	214,413	*,e	Infinity Pharmaceuticals, Inc		334
	36,545	*	Innate Pharma S.A.		453
	189,956	e	Innoviva, Inc		2,088
	37,053	*,e	Inotek Pharmaceuticals Corp		351
	154,438	*,e	Inovio Pharmaceuticals, Inc		1,439
	183,714	*	Insmed, Inc		2,668
	51,988	*,e	Insys Therapeutics, Inc		613
	15,871	*,e	Intellia Therapeutics, Inc		270
	26,562	*,e	Intercept Pharmaceuticals, Inc		4,372
	64,382	*	Intersect ENT, Inc		1,020
	92,303	*,e	Intra-Cellular Therapies, Inc		1,407
	114,744	*,e	Intrexon Corp		3,215
	10,656	*	iNtRON Biotechnology, Inc		443
	50,545	*,e	Invitae Corp		443
	260,544	*,e	Ionis Pharmaceuticals, Inc		9,546
	68,292		Ipca Laboratories Ltd		616
	246,823		Ipsen		17,341
	299,126	*,e	Ironwood Pharmaceuticals, Inc		4,750
	10,100	*,e	Japan Tissue Engineering Co Lt		133
	161,486	*	Jazz Pharmaceuticals plc		19,617
	12,400		JCR Pharmaceuticals Co Ltd		323
	13,602		Jeil Pharmaceutical Co		1,298
	9,095,465	n	Johnson & Johnson		1,074,447
	134,041		Jubilant Organosys Ltd		1,240
	124,923	*,e	Juno Therapeutics, Inc		3,749
	76,077		JW Holdings Corp		1,147

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	25,455		JW Shinyak Corp	$	254
	15,257	*	Kadmon Holdings, Inc		112
	34,800		Kaken Pharmaceutical Co Ltd		2,139
	60,949	*,e	Karyopharm Therapeutics, Inc		593
	178,945	*,e	Keryx Biopharmaceuticals, Inc		950
	109,800		Kissei Pharmaceutical Co Ltd		2,936
	121,432	*,e	Kite Pharma, Inc		6,783
	87,604	*	Knight Therapeutics, Inc		633
	3,758		Kolon Life Science, Inc		531
	58,218	*	Komipharm International Co Ltd		2,283
	7,851		Korea United Pharm Inc		137
	163,431		Kwang Dong Pharmaceutical Co Ltd		1,347
	62,886		Kyongbo Pharmaceutical Co Ltd		953
	105,136		Kyorin Co Ltd		2,385
	382,791		Kyowa Hakko Kogyo Co Ltd		6,046
	5,888		Kyungdong Pharm Co Ltd		98
	34,331	*,e	La Jolla Pharmaceutical Co		817
	49,825		Laboratorios Almirall S.A.		766
	13,028		Laboratorios Farmaceuticos Rovi S.A		190
	62,747	*,e	Lannett Co, Inc		1,667
	620,000	e	Lee’s Pharmaceutical Holdings Ltd		584
	264,488	*,e	Lexicon Pharmaceuticals, Inc		4,779
	10,819	*	LG Life Sciences Ltd		613
	125,343	*,e	Ligand Pharmaceuticals, Inc (Class B)		12,793
	25,400	*,e	Linical Co Ltd		370
	119,887	*,e	Lion Biotechnologies, Inc		987
	42,774	*,e	Lipocine, Inc		191
	173,770	e	Livzon Pharmaceutical Group, Inc		1,076
	310,695		Lonza Group AG.		59,467
	77,000	*	Lotus Pharmaceutical Co Ltd		154
	30,395	*,e	Loxo Oncology, Inc		796
	92,873	*	Luminex Corp		2,110
	396,472		Lupin Ltd		8,868
	1,847,500	*	Luye Pharma Group Ltd		1,216
	7,802	*	Macrogen, Inc		242
	76,068	*	MacroGenics, Inc		2,275
	305,265	*	Mallinckrodt plc		21,301
	277,272	*,e	MannKind Corp		172
	175,620		Marksans Pharma Ltd		139
	2,077,494	*	Mayne Pharma Group Ltd		3,199
	62,869	*	Medgenics, Inc		350
	170,027	*,e	Medicines Co		6,417
	65,387	*,e	MediciNova, Inc		490
	91,918	*	Medigen Biotechnology Corp		206
	15,772	*	Medpace Holdings, Inc		471
	6,981		Medy-Tox, Inc		2,869
	259,100		Mega Lifesciences PCL		142
	9,074,409		Merck & Co, Inc		566,334
	193,195		Merck KGaA		20,839
	4,651,630	*,e	Merrimack Pharmaceuticals, Inc		29,538
	711,264	*,e	Mesoblast Ltd		613
	64,521	*	Mettler-Toledo International, Inc		27,088

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	239,759	*,e	MiMedx Group, Inc	$	2,057
	43,749	*,e	Minerva Neurosciences, Inc		618
	53,704	*	Mirati Therapeutics, Inc		355
	10,400		Mochida Pharmaceutical Co Ltd		816
	5,833	*,e	Molecular Partners AG.		150
	148,739	*	Momenta Pharmaceuticals, Inc		1,739
	20,788	*	Morphosys AG.		871
	1,334,944	*	Mylan NV		50,888
	36,373	*,e	MyoKardia, Inc		594
	164,718	*,e	Myriad Genetics, Inc		3,390
	28,600	*,e	NanoCarrier Co Ltd		288
	53,148	*	NanoString Technologies, Inc		1,062
	35,860	*,e	NantKwest, Inc		279
	93,173		Natco Pharma Ltd		837
	60,194	*,e	Natera, Inc		669
	13,627	*	Naturalendo Tech Co Ltd		215
	303,141	*	Nektar Therapeutics		5,208
	120,191	*	NeoGenomics, Inc		988
	35,072	*,e	Neos Therapeutics, Inc		231
	94,863	*	Neurocrine Biosciences, Inc		4,804
	8,717	*,e	Neuroderm Ltd		161
	67,642	*,e	NewLink Genetics Corp		1,016
	8,731	*	Newron Pharmaceuticals S.p.A		202
	38,550		Nichi-iko Pharmaceutical Co Ltd		739
	67,700	e	Nippon Shinyaku Co Ltd		3,669
	3,581,077		Novartis AG.		282,620
	761,318	*,e	Novavax, Inc		1,584
	2,912,116		Novo Nordisk AS		121,373
	114,000	*	OBI Pharma, Inc		1,425
	48,267	*,e	Ocular Therapeutix, Inc		332
	90,057	*,e	Omeros Corp		1,005
	44,945	*,e	OncoMed Pharmaceuticals, Inc		514
	97,000	*,e	OncoTherapy Science, Inc		288
	130,923		Oneness Biotech Co Ltd		160
	511,795		Ono Pharmaceutical Co Ltd		14,290
	116,999	*,e	Ophthotech Corp		5,397
	680,085	*,e	Opko Health, Inc		7,202
	19,477	*,e	Orexo AB		106
	202,940	*,e	Organovo Holdings, Inc		769
	85,660		Orion Oyj (Class B)		3,377
	53,254	e	Osiris Therapeutics, Inc		264
	58,239	*,e	Otonomy, Inc		1,059
	613,620		Otsuka Holdings KK		27,970
	115,600		Ouro Fino Saude Animal Participacoes S.A.		1,414
	77,754	*,e	OvaScience, Inc		557
	179,345	*,e	Pacific Biosciences of California, Inc		1,607
	88,217	*,e	Pacira Pharmaceuticals, Inc		3,019
	1,782,786	*,e	Paion AG.		5,263
	47,659	*	Paratek Pharmaceuticals, Inc		620
	163,311	*	Parexel International Corp		11,342
	8,122	*	Patheon NV		241
	443,217		PDL BioPharma, Inc		1,485

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	31,800	*,e	PeptiDream, Inc	$	1,738
	4,383	*	Peptron, Inc		190
	321,616		PerkinElmer, Inc		18,046
	168,937		Perrigo Co plc		15,598
	87,284	*	Pfenex, Inc		781
	18,338		Pfizer Ltd		528
	19,853,251		Pfizer, Inc		672,430
	154,229	*,e	Pharma Mar S.A.		490
	3,775		PHARMA RESEARCH PRODUCTS Co Ltd		170
	62,229		PharmaEngine Inc		478
	221,000		Pharmally International Holding Co Ltd		3,318
	157,834	*	PharmAthene, Inc		458
	44,456	*	Pharmstandard (GDR)		174
	78,114		Phibro Animal Health Corp		2,123
	122,543		Piramal Healthcare Ltd		3,384
	202,707	*,e	Portola Pharmaceuticals, Inc		4,603
	115,436	*	PRA Health Sciences, Inc		6,523
	198,090	*	Prestige Brands Holdings, Inc		9,562
	166,572	*,e	Progenics Pharmaceuticals, Inc		1,054
	465,640	*	ProMetic Life Sciences, Inc		1,036
	10,093	*	Protagonist Therapeutics, Inc		213
	17,082	*,e	Proteostasis Therapeutics, Inc		266
	97,607	*,e	Prothena Corp plc		5,853
	23,862,531		PT Kalbe Farma Tbk		3,144
	81,706	*,e	PTC Therapeutics, Inc		1,145
	65,087	*,e	Puma Biotechnology, Inc		4,364
	164,966	*	Qiagen NV		4,549
	414,489	*	Qiagen NV (NASDAQ)		11,374
	271,787	*	Quintiles Transnational Holdings, Inc		22,031
	83,697	*,e	Radius Health, Inc		4,527
	225,098	*	Raptor Pharmaceutical Corp		2,019
	14,783	*,e	Reata Pharmaceuticals, Inc		390
	29,414	e	Recipharm AB		480
	465,753		Recordati S.p.A.		14,969
	186,961	*	Regeneron Pharmaceuticals, Inc		75,162
	44,485	*,e	REGENXBIO, Inc		623
	95,555	*,e	Regulus Therapeutics, Inc		315
	115,440	*	Repligen Corp		3,485
	194,524	*,e	Retrophin, Inc		4,353
	45,815	*,e	Revance Therapeutics, Inc		743
	3,906		Reyon Pharmaceutical Co Ltd		111
	115,385		Richter Gedeon Rt		2,345
	688,434	*	Rigel Pharmaceuticals, Inc		2,527
	1,261,057		Roche Holding AG.		313,371
	105,300		Rohto Pharmaceutical Co Ltd		1,817
	82,548	*,e	Sage Therapeutics, Inc		3,801
	53,508		Samjin Pharmaceutical Co Ltd		1,573
	25,734	*	Samsung Pharmaceutical Co Ltd		130
	12,700	*,e	SanBio Co Ltd		188
	160,914	*,e	Sangamo Biosciences, Inc		745
	8,685		Sanofi India Ltd		540

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,063,556		Sanofi-Aventis	$	157,142
	353,800		Santen Pharmaceutical Co Ltd		5,224
	4,251	*,e	Santhera Pharmaceutical Holding AG.		230
	161,366	*,e	Sarepta Therapeutics, Inc		9,909
	63,600	e	Sawai Pharmaceutical Co Ltd		4,533
	71,880	*	Schnell Biopharmaceuticals, Inc		341
	159,109	*	Sciclone Pharmaceuticals, Inc		1,631
	209,847		Scinopharm Taiwan Ltd		290
	210,179	*,e	Seattle Genetics, Inc		11,352
	115,932	*	Seegene, Inc		3,783
	1,059,500		Seikagaku Corp		17,419
	69,711	*	Sequent Scientific Ltd		139
	62,828	*,e	Seres Therapeutics, Inc		772
	394,000	e	Shandong Luoxin Pharmacy Stock Co Ltd		561
	748,000		Shandong Xinhua Pharmaceutical Co Ltd		554
	240,000	m	Shanghai Dingli Technology Dev		167
	503,251	e	Shanghai Fosun Pharmaceutical Group Co Ltd		1,574
	239,000	e	Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		236
	36,200	e,g	Shanghai Haohai Biological Technology Co Ltd		178
	49,700		Shanghai Shenqi Pharmaceutical Investment Management Co Ltd		87
	19,886		Shilpa Medicare Ltd		162
	365,579		Shionogi & Co Ltd		18,730
	1,268,888		Shire Ltd		82,050
	201,674		Shire plc (ADR)		39,097
	2,825		Siegfried Holding AG.		617
	4,357,000		Sihuan Pharmaceutical Holdings		960
	14,292,205	e	Sino Biopharmaceutical		9,668
	47,088	e	Sirtex Medical Ltd		1,145
	976,029	*,m	Skyline Venture Fund III Ltd		10
	127,592	*,e	Sorrento Therapeutics, Inc		988
	27,900	e	Sosei Group		4,925
	43,996	*,e	Spark Therapeutics, Inc		2,642
	334,217	*	Spectrum Pharmaceuticals, Inc		1,561
	4,957,703	e	SSY Group Ltd		1,707
	180,123		Stada Arzneimittel AG.		10,022
	2,694	*	Stallergenes Greer plc		85
	52,600	*,e	Stemline Therapeutics, Inc		570
	41,435		Strides Arcolab Ltd		628
	161,435	*	Sucampo Pharmaceuticals, Inc (Class A)		1,987
	387,349	e	Sumitomo Dainippon Pharma Co Ltd		7,502
	56,762	*	Sun Pharma Advanced Research Company Ltd		270
	1,432,619		Sun Pharmaceutical Industries Ltd		16,015
	207,390	*	Supernus Pharmaceuticals, Inc		5,129
	42,688		Suven Life Sciences Ltd		129
	7,960	*	Syndax Pharmaceuticals, Inc		121
	906,195	*,e	Synergy Pharmaceuticals, Inc		4,993
	195,338	*,e	Synthetic Biologics, Inc		336
	31,870	*,e	T2 Biosystems, Inc		231
	235,799	*	Taigen Biopharmaceuticals Holdings Ltd		221
	167,000	*	TaiMed Biologics, Inc		1,169
	42,757	e	Taisho Pharmaceutical Holdings Co Ltd		4,382

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	28,339	*	Taiwan Liposome Co Ltd	$	117
	39,700	e	Takara Bio, Inc		668
	612,864		Takeda Pharmaceutical Co Ltd		29,374
	453,914		Tanabe Seiyaku Co Ltd		9,722
	21,536	*,e	Taro Pharmaceutical Industries Ltd		2,380
	8,740		Tecan Group AG.		1,536
	102,093	*,e	Teligent, Inc		776
	72,084	*,e	TESARO, Inc		7,226
	174,054	*,e	Tetraphase Pharmaceuticals, Inc		667
	1,106,858		Teva Pharmaceutical Industries Ltd		51,375
	179,427		Teva Pharmaceutical Industries Ltd (ADR)		8,255
	88,547	*,e	TG Therapeutics, Inc		685
	347,866	*,e	TherapeuticsMD, Inc		2,369
	84,561	*,e	Theravance Biopharma, Inc		3,064
	1,215,794		Thermo Electron Corp		193,384
	175,200		Tianjin ZhongXin Pharmaceutical Group Corp Ltd		131
	49,488	*,e	Titan Pharmaceuticals, Inc		291
	19,427	*,e	Tobira Therapeutics, Inc		772
	29,939	*,e	Tokai Pharmaceuticals, Inc		46
	1,394,000		Tong Ren Tang Technologies Co Ltd		2,706
	34,100		Torii Pharmaceutical Co Ltd		737
	8,400	e	Towa Pharmaceutical Co Ltd		342
	207,493	*	Trevena, Inc		1,401
	69,601	*,e	Trovagene, Inc		313
	60,992	e	Tsumura & Co		1,736
	330,917		TTY Biopharm Co Ltd		1,368
	62,000	*	TWi Pharmaceuticals, Inc		234
	224,563		UCB S.A.		17,382
	123,471	*,e	Ultragenyx Pharmaceutical, Inc		8,759
	62,237		Unichem Laboratories Ltd		253
	493,500	*,e	United Laboratories Ltd		289
	120,896	*,e	United Therapeutics Corp		14,275
	453,479	*	Valeant Pharmaceuticals International, Inc		11,127
	40,277	*,e	Valneva SE		118
	352,371	*	Vanda Pharmaceuticals, Inc		5,863
	523,340	*	Vectura Group plc		939
	66,572	*,e	Versartis, Inc		816
	731,615	*,n	Vertex Pharmaceuticals, Inc		63,804
	4,574		Virbac S.A.		765
	20,348	*	ViroMed Co Ltd		2,195
	84,547	*,e	Vitae Pharmaceuticals, Inc		1,769
	64,598	*,e	Vital Therapies, Inc		395
	47,950		Vitrolife AB		3,042
	30,263	*,e	Voyager Therapeutics, Inc		363
	17,521	*,e	vTv Therapeutics, Inc		126
	196,959	*	VWR Corp		5,586
	179,337	*	Waters Corp		28,423
	22,380	*,e	WaVe Life Sciences Pte Ltd		727
	12,389		Whanin Pharmaceutical Co Ltd		175
	1,882,000	e	Winteam Pharmaceutical Group Ltd		973
	26,135		Wockhardt Ltd		346
	41,168	*,e	XBiotech, Inc		554

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	125,814	*	Xencor Inc	$	3,081
	8,948		Yuhan Corp		2,263
	83,510	*	Yungjin Pharmaceutical Co Ltd		948
	377,050		YungShin Global Holding Corp		575
	129,081	*	Zafgen, Inc		427
	13,519	*,e	Zealand Pharma AS		202
	77,100		Zeria Pharmaceutical Co Ltd		1,308
	336,875	*,e	ZIOPHARM Oncology, Inc		1,897
	2,038,869		Zoetis Inc		106,042
	68,614	*	Zogenix, Inc		784
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		8,910,544
REAL ESTATE - 4.0%
	156,312		360 Capital Industrial Fund		315
	18,050,000		8990 Holdings, Inc		2,781
	246,307		Abacus Property Group		548
	185,709		Acadia Realty Trust		6,730
	730	*	Activia Properties Inc		3,882
	19,608	*,e	ADLER Real Estate AG.		312
	50,131	g	ADO Properties S.A.		2,006
	1,320		Advance Residence Investment Corp		3,735
	27,716		Aedifica S.A.		2,405
	26,076		Aeon Mall Co Ltd		412
	9,301		AEON REIT Investment Corp		12,121
	1	*	Africa Israel Investments Ltd		0	^
	24,931		Africa Israel Properties Ltd		417
	1,749,018	e	Agile Property Holdings Ltd		1,002
	62,584		Agree Realty Corp		3,094
	1,136,784		AIMS AMP Capital Industrial REIT		1,171
	51,482	*	Airport City Ltd		586
	3,330,295		Aldar Properties PJSC		2,418
	108,419		Alexander & Baldwin, Inc		4,165
	7,694		Alexander’s, Inc		3,228
	104,520	e	Alexandria Real Estate Equities, Inc		11,369
	76,100		Aliansce Shopping Centers S.A.		362
	10,154,958		Allco Commercial Real Estate Investment Trust		10,476
	32,275		Allied Properties Real Estate Investment Trust		927
	14,942		Allreal Holding AG.		2,269
	237,305		Alony Hetz Properties & Investments Ltd		2,143
	203,771	e	Alstria Office REIT-AG.		2,799
	97,166	*,e	Altisource Portfolio Solutions S.A.		3,148
	35,564		Altus Group Ltd		793
	517,400		Amata Corp PCL (Foreign)		167
	1,625,878		Amer Group Holding		49
	254,837		American Assets Trust,Inc		11,055
	305,374		American Campus Communities, Inc		15,534
	191,078		American Homes 4 Rent		4,135
	962,092		American Tower Corp		109,034
	376,611		Amot Investments Ltd		1,680
	4,497,800		Ananda Development PCL		630
	5,646		ANF Immobilier		133
	4,396,160	*	AP Thailand PCL (Foreign)		923

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	529,824		Apartment Investment & Management Co (Class A)	$	24,324
	412,796	e	Apple Hospitality REIT, Inc		7,641
	1,599,338		Argosy Property Ltd		1,304
	295,396		Armada Hoffler Properties, Inc		3,958
	2,061,188		Arrowhead Properties Ltd (Class A)		1,299
	57,631		Artis Real Estate Investment Trust		545
	1,872,500	e	Ascendas Hospitality Trust		1,009
	1,529,400	e	Ascendas India Trust		1,211
	472,976		Ascendas REIT		876
	1,911,502		Ascott Residence Trust		1,597
	100,867		Ashford Hospitality Prime, Inc		1,422
	280,471		Ashford Hospitality Trust, Inc		1,652
	1,054,371	*	Attacq Ltd		1,325
	33,041	*,e	AV Homes, Inc		550
	483,810		AvalonBay Communities, Inc		86,041
	1,123,337		Aveo Group		2,982
	57,723	e	Axia Real Estate SOCIMI S.A.		764
	910,966		Axis Real Estate Investment Trust		386
	8,629,015		Ayala Land, Inc		7,023
	34,436		Azrieli Group		1,509
	10,996,200		Bangkokland PCL		508
	113,204		Barwa Real Estate Co		1,052
	1,431		Bayside Land Corp		580
	23,233		Befimmo SCA Sicafi		1,403
	4,074,000		Beijing Capital Land Ltd		1,682
	3,744,000	*	Beijing Enterprises Medical & Health Group Ltd		219
	684,000		Beijing North Star Co		235
	2,186,000	*	Beijing Properties Holdings Ltd		111
	4,847,950		Belle Corp		298
	1,144,434	e	Beni Stabili S.p.A.		683
	309,871		Big Yellow Group plc		3,126
	1,091		BLife Investment Corp		3,198
	9,856		Blue Square Real Estate Ltd		400
	82,446	e	Bluerock Residential Growth REIT, Inc		1,072
	34,840		Boardwalk Real Estate Investment Trust		1,374
	620,013		Boston Properties, Inc		84,502
	611,141		BR Malls Participacoes S.A.		2,311
	65,108		BR Properties S.A.		171
	214,323		Brandywine Realty Trust		3,348
	869,223		British Land Co plc		7,120
	365,610		Brixmor Property Group, Inc		10,160
	983,043		Brookfield Asset Management, Inc		34,565
	24,231		Brookfield Canada Office Properties		508
	1,188		Brookfield Property Partners LP (Toronto)		27
	866,024		Bunnings Warehouse Property Trust		2,136
	220,413		BUWOG AG.		5,963
	29,752,414		C C Land Holdings Ltd		7,847
	69,669		CA Immobilien Anlagen AG.		1,328
	664,300		Cache Logistics Trust		436
	783,309		Cambridge Industrial Trust		316
	129,902		Camden Property Trust		10,878
	115,611		Canadian Apartment Properties REIT		2,698

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	36,642		Canadian Real Estate Investment Trust	$	1,314
	534,400	e	CapitaCommercial Trust		625
	655,140	e	Capital & Counties Properties		2,442
	2,669,480		CapitaLand Ltd		6,302
	1,179,681	e	CapitaMall Trust		1,879
	1,368,500		CapitaMalls Malaysia Trust		513
	445,232		CapitaRetail China Trust		527
	351,102		Care Capital Properties, Inc		10,006
	255,762		CareTrust REIT, Inc		3,780
	4,180,000	*,e	Carnival Group International Holdings Ltd		507
	718,472		Castellum AB		10,764
	88,073		CatchMark Timber Trust Inc		1,030
	1,833,000		Cathay Real Estate Development Co Ltd		861
	396,945	e	CBL & Associates Properties, Inc		4,819
	1,014,711	*	CBRE Group, Inc		28,392
	521,900	e	CDL Hospitality Trusts		536
	15,000,000		Cebu Holdings, Inc		1,590
	197,358		Cedar Realty Trust, Inc		1,421
	53,759		Cedar Woods Properties Ltd		202
	1,281,000		Central China Real Estate Ltd		304
	1,333,558		Central Pattana PCL (Foreign)		2,223
	4,154,636		Champion Real Estate Investment Trust		2,528
	793,494		Charter Hall Group		3,120
	154,932		Chatham Lodging Trust		2,982
	238,100		Chesapeake Lodging Trust		5,453
	4,073,131		Cheuk Nang Holdings Ltd		3,155
	5,226,567		Cheung Kong Property Holdings Ltd		38,446
	3,781,500		China Aoyuan Property Group Ltd		909
	12,621,663	e	China Evergrande Group		8,625
	1,294,000	e	China Merchants Land Ltd		198
	3,640,000	*	China Minsheng Drawin Technology Group Ltd		149
	12,797,521	*,e,m	China New Town Development Co Ltd		571
	3,809,000	*	China Oceanwide Holdings Ltd		394
	880,000	*,e	China Overseas Grand Oceans Group Ltd		286
	8,005,127		China Overseas Land & Investment Ltd		27,522
	1,230,000	e	China Overseas Property Holdings Ltd		257
	4,526,083		China Resources Land Ltd		12,761
	3,971,400		China SCE Property Holdings Ltd		970
	2,614,000	e	China South City Holdings Ltd		584
	3,322,522		China Vanke Co Ltd		8,686
	1,342,000	g	China Vast Industrial Urban Development Co Ltd		557
	335,500		Chinese Estates Holdings Ltd		599
	62,999		Choice Properties REIT		663
	164,088		Chong Hong Construction Co		278
	7,136,758	e	CIFI Holdings Group Co Ltd		2,253
	134,328		City Developments Ltd		898
	126,156	e	City Office REIT, Inc		1,606
	326,254		Citycon Oyj		831
	21,329		Cofinimmo		2,656
	78,935		Colliers International Group, Inc		3,313
	178,875	e	Colony Starwood Homes		5,134
	540,000	e	Colour Life Services Group		382

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	451,118		Columbia Property Trust, Inc	$	10,101
	3,779		Comforia Residential REIT, Inc		9,316
	210,795		Cominar Real Estate Investment Trust		2,452
	874,678		Communications Sales & Leasing, Inc		27,474
	29,992		Community Healthcare Trust, Inc		657
	408,500		Concentradora Fibra Hotelera Mexicana S.A. de C.V.		272
	10,236		Consolidated-Tomoka Land Co		524
	199,942		Conwert Immobilien Invest AG.		3,763
	35,774	e	CorEnergy Infrastructure Trust, Inc		1,049
	118,167		Coresite Realty		8,749
	458,436	e	Corp Inmobiliaria Vesta SAB de C.V.		632
	150,346		Corporate Office Properties Trust		4,262
	173,924		Corrections Corp of America		2,412
	6,574,628		Country Garden Holdings Co Ltd		3,493
	3,760,500	*	Country Group Development PCL		112
	123,241		Countrywide plc		346
	488,407		Cousins Properties, Inc		5,099
	3,139	*	Crescendo Investment Corp		2,578
	1,347,490		Croesus Retail Trust		846
	35,907		Crombie Real Estate Investment Trust		392
	4,885,113		Cromwell Group		3,522
	1,122,805		Crown Castle International Corp		105,779
	760,000	*	Crown International Corp Ltd		188
	19,188,943		CSI Properties Ltd		710
	94,895		CT Real Estate Investment Trust		1,114
	473,490		CubeSmart		12,907
	431,491		CyrusOne, Inc		20,526
	38,555	*	D Carnegie & Co AB		495
	766	*	DA Office Investment Corp		4,699
	199,700		Daibiru Corp		1,821
	822,000		Daikyo, Inc		1,491
	2,595,900		Daiman Development BHD		1,368
	71,446		Daito Trust Construction Co Ltd		11,427
	853,689		Daiwa House Industry Co Ltd		23,429
	72,600	g,m	Dalian Wanda Commercial Properties Co Ltd		494
	229,660		DCT Industrial Trust, Inc		11,150
	813,405		DDR Corp		14,178
	149,001		Derwent London plc		5,022
	372,750		Deutsche Annington Immobilien SE		14,131
	137,477		Deutsche Euroshop AG.		6,392
	388,320	e	Deutsche Wohnen AG.		14,130
	652,030		Dexus Property Group		4,583
	1,292,077	*	Deyaar Development PJSC		205
	670,619		DiamondRock Hospitality Co		6,103
	38,714		DIC Asset AG.		391
	344,296		Digital Realty Trust, Inc		33,438
	118,714		Dios Fastigheter AB		896
	5,787,948		DLF Ltd		12,735
	72,621	*	Dogus Gayrimenkul Yatirim Ortakligi AS		86
	380,430		Dongwon Development Co Ltd		1,675
	623,830		DoubleDragon Properties Corp		755
	163,476		Douglas Emmett, Inc		5,988

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	47,826		Dream Global Real Estate Investment Trust	$	328
	25,542		Dream Industrial Real Estate Investment Trust		153
	42,886		Dream Office Real Estate Investment Trust		553
	69,178	*	Dream Unlimited Corp		382
	407,756		Duke Realty Corp		11,144
	213,875		DuPont Fabros Technology, Inc		8,822
	74,613	e	Easterly Government Properties, Inc		1,424
	628,762		Eastern & Oriental BHD		255
	83,392		EastGroup Properties, Inc		6,134
	748,900	*	Eco World Development Group BHD		236
	288,785		Education Realty Trust, Inc		12,458
	2,286,673	*	Emaar Malls Group PJSC		1,689
	6,334,366		Emaar Properties PJSC		12,208
	1,322,919		Emira Property Fund Ltd		1,412
	2,281,335		Emlak Konut Gayrimenkul Yatiri		2,312
	957,333		Emperor International Holdings		220
	586,073		Empire State Realty Trust, Inc		12,278
	348,000		Empiric Student Property plc		523
	167,230		Entertainment Properties Trust		13,168
	159,525	g	Entra ASA		1,788
	145,651		Equinix, Inc		52,471
	278,826	*	Equity Commonwealth		8,426
	413,015		Equity Lifestyle Properties, Inc		31,877
	232,162		Equity One, Inc		7,107
	1,181,693		Equity Residential		76,018
	1,074,710	*	Eshraq Properties Co PJSC		242
	249,864		Essex Property Trust, Inc		55,645
	68,901		Eurobank Properties Real Estate Investment Co		520
	49,668		Eurocommercial Properties NV		2,243
	4,210,000	*	EverChina International Holdings Co. Ltd		180
	385,239		Extra Space Storage, Inc		30,592
	913,879		Ezdan Holding Group QSC		4,220
	170,897		Fabege AB		3,116
	3,784,000	e	Fantasia Holdings Group Co Ltd		581
	899,818		Far East Consortium		361
	697,500		Far East Hospitality Trust		309
	1,124,812		Farglory Land Development Co Ltd		1,338
	29,991	e	Farmland Partners, Inc		336
	112,634	*	Fastighets AB Balder		2,994
	219,202		Federal Realty Investment Trust		33,742
	572,035		FelCor Lodging Trust, Inc		3,678
	344,051		Fibra Shop Portafolios Inmobiliarios SAPI de C.V.		283
	5,118,506		Fibra Uno Administracion S.A. de C.V.		9,350
	18,000,000		Filinvest Development Corp		2,992
	55,728,000		Filinvest Land, Inc		2,112
	91,318		First Capital Realty, Inc		1,530
	380,793		First Industrial Realty Trust, Inc		10,746
	135,986		First Potomac Realty Trust		1,244
	939,908	e	First Real Estate Investment Trust		934
	72,685		FirstService Corp		3,381
	483,771		Folkestone Education Trust		966
	4,125		Fonciere de Paris SIIC		629

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	44,281		Fonciere Des Regions	$	4,126
	687,017		Forest City Realty Trust, Inc		15,891
	77,419	*,e	Forestar Group, Inc		907
	727,681		Fortress Income Fund Ltd		1,738
	524,400		Fortress Income Fund Ltd (A Shares)		621
	361,573		Four Corners Property Trust, Inc		7,712
	716,621	e	Foxtons Group plc		931
	337,638		Franklin Street Properties Corp		4,254
	10,257,725		Franshion Properties China Ltd		3,184
	1,349,200		Frasers Centrepoint Trust		2,177
	785,100	e	Frasers Hospitality Trust		396
	397		Frontier Real Estate Investment Corp		1,984
	16,420	*	FRP Holdings, Inc		510
	630	*	Fukuoka REIT Corp		1,179
	3,202,000		Future Land Development Holdin		629
	2,176,002		Gaming and Leisure Properties, Inc		72,787
	392,161	e	Gateway Lifestyle		646
	82,933		Gazit Globe Ltd		845
	22,952		Gazit, Inc		433
	432,352		GDI Property Group		316
	29,379		Gecina S.A.		4,630
	9,588,000		Gemdale Properties and Investment Corp Ltd		621
	2,548,044		General Growth Properties, Inc		70,326
	214,378	e	Geo Group, Inc		5,098
	72,670		Getty Realty Corp		1,739
	73,381		Gladstone Commercial Corp		1,367
	2,842,991		Global Logistic Properties		3,922
	20,574		Global Medical REIT, Inc		201
	403,761	*,e	Global Net Lease, Inc		3,295
	161	*,e	Global One Real Estate Investment Corp		615
	402,949	*	Globe Trade Centre S.A.		869
	3,034,895	*	Glorious Property Holdings Ltd		405
	7,497		GLP J-Reit		9,984
	45,237		Godrej Properties Ltd		237
	59,180		Goldcrest Co Ltd		972
	468,000		Golden Land Property Development PCL		81
	1,150,324		Goodman Property Trust		1,094
	167,592	e	Government Properties Income Trust		3,791
	820,122		GPT Group (ASE)		3,194
	1,039,691		Grainger plc		3,093
	1,138,778	e	Gramercy Property Trust		10,978
	280,356		Grand City Properties S.A.		5,489
	57,695		Granite Real Estate Investment Trust		1,763
	316,115		Great Eagle Holdings Ltd		1,422
	461,999		Great Portland Estates plc		3,789
	4,626,252		Green REIT plc		7,562
	1,390,000	*,e	Greenland Hong Kong Holdings Ltd		406
	611,500	*,e	Greentown China Holdings Ltd		520
	1,511		Griffin Land & Nurseries, Inc (Class A)		48
	160,504	e	Growthpoint Properties Australia Ltd		423
	3,958,870	e	Growthpoint Properties Ltd		7,294
	692,300	*,e	Grupo GICSA S.A. de C.V.		448

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	542,000	*	Guangdong Land Holdings Ltd	$	127
	5,871,085		Guangzhou R&F Properties Co Ltd		9,304
	832,000	e	Guorui Properties Ltd		266
	146,453		H&R Real Estate Investment Trust		2,504
	60,958		Hamborner AG.		645
	2,143,207		Hammerson plc		16,311
	538,022		Hang Lung Group Ltd		2,057
	8,997,458		Hang Lung Properties Ltd		20,409
	1,491		Hankyu Reit, Inc		2,026
	1,963,930	e	Hansteen Holdings plc		2,960
	1,466,997		HCP, Inc		55,673
	1,050	*	Health Care & Medical Investment Corp		1,121
	330,986	e	Healthcare Realty Trust, Inc		11,273
	328,587		Healthcare Trust of America, Inc		10,719
	129,500		Heiwa Real Estate Co Ltd		1,867
	139,013	e	Helical Bar plc		487
	95,210		Heliopolis Housing		546
	316,124		Hemfosa Fastigheter AB		3,428
	3,301,975	e	Henderson Land Development Co Ltd		19,702
	120,932	e	Hersha Hospitality Trust		2,179
	233,530		HFF, Inc (Class A)		6,466
	26,771,915		Hibernia REIT plc		41,202
	3,093,042		Highwealth Construction Corp		4,793
	317,548		Highwoods Properties, Inc		16,551
	122,436		Hispania Activos Inmobiliarios SAU		1,642
	5,793,000	*	HKC Holdings Ltd		99
	119,300	*	HNA Innovation Hainan Co Ltd		79
	173,400		Ho Bee Investment Ltd		275
	226,820		Hong Fok Corp Ltd		112
	1,344,194	e	Hongkong Land Holdings Ltd		9,577
	1,136,000	e	Hopson Development Holdings Ltd		1,129
	245	*	Hoshino Resorts REIT, Inc		3,079
	309,182		Hospitality Properties Trust		9,189
	2,293,844	e	Host Marriott Corp		35,715
	240,225	*	Housing Development & Infrastruture Ltd		288
	98,544	*	Howard Hughes Corp		11,283
	224,235		Huaku Development Co Ltd		389
	120,000		Huang Hsiang Construction Co		152
	421,123		Hudson Pacific Properties		13,842
	270,751		Hufvudstaden AB (Series A)		4,691
	2,276	e	Hulic Reit, Inc		4,064
	495,362		Hung Poo Real Estate Development Corp		416
	371,000		Hung Sheng Construction Co Ltd		202
	1,066,000		Hydoo International Holding Ltd		109
	548,800		Hyprop Investments Ltd		4,841
	365,752	e	Hysan Development Co Ltd		1,721
	13,753		Icade		1,073
	3,527	*	Ichigo Real Estate Investment Corp		2,592
	2,834,000		IGB Real Estate Investment Trust		1,124
	65,800		Iguatemi Empresa de Shopping Centers S.A.		601
	1,026,824		Immobiliare Grande Distribuzione		774
	1,355,948	*,e,m	Immoeast AG.		0

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	658,721	*,e,m	Immofinanz ANSPR NACHB AG.	$	0
	646,934	*,e	Immofinanz Immobilien Anlagen AG.		1,519
	335,190	e	Independence Realty Trust, Inc		3,017
	180,065	*	Indiabulls Real Estate Ltd		251
	422	e	Industrial & Infrastructure Fund Investment Corp		2,149
	1,465,126		ING Office Fund		5,142
	2,118,021		Ingenia Communities Group		4,551
	184,067	e	Inmobiliaria Colonial S.A.		1,339
	30,179		InterRent Real Estate Investment Trust		179
	2,035		Intershop Holding AG.		1,047
	28,814		Intervest Offices		794
	300,814	e	Intu Properties plc		1,153
	4,469	e	Invesco Office J-Reit, Inc		3,922
	14,000	*,e	Investors Cloud Co Ltd		577
	284,903	e	Investors Real Estate Trust		1,695
	6,628	*,e	Invincible Investment Corp		3,709
	2,581,293		IOI Properties Group Sdn BHD		1,554
	285,982		Irish Residential Properties REIT plc		379
	577,721		Iron Mountain, Inc		21,682
	1,499,756		Is Gayrimenkul Yatirim Ortakligi AS		809
	989	*	Japan Excellent, Inc		1,425
	10,459		Japan Hotel REIT Investment Corp		8,326
	824	*	Japan Logistics Fund Inc		1,865
	442		Japan Prime Realty Investment Corp		1,996
	310		Japan Real Estate Investment Corp		1,854
	13,012		Japan Rental Housing Investments, Inc		10,916
	757		Japan Retail Fund Investment Corp		1,867
	1,620	*,e	Japan Senior Living Investment Corp		2,340
	1,596,750	m	Jiangsu Future Land Co Ltd		3,249
	62,572		Jones Lang LaSalle, Inc		7,120
	81,100	e	Jowa Holdings Co Ltd		2,262
	13,000,000	e	Joy City Property Ltd		1,916
	2,433,090		K Wah International Holdings Ltd		1,339
	328,480		KEE TAI Properties Co Ltd		113
	657		Kenedix Realty Investment Corp		4,039
	1,056	e	Kenedix Residential Investment Corp		2,999
	1,565		Kenedix Retail REIT Corp		3,710
	830,700		Kenedix, Inc		3,705
	316,974		Kennedy-Wilson Holdings, Inc		7,148
	547,100	e	Keppel DC REIT		489
	3,011,353		Kerry Properties Ltd		9,893
	154,246		Killam Apartment Real Estate Investment Trust		1,421
	269,424	e	Kilroy Realty Corp		18,685
	444,184		Kimco Realty Corp		12,859
	280,000		Kindom Construction Co		141
	193,799		Kite Realty Group Trust		5,372
	2,390,252		Kiwi Property Group Ltd		2,611
	79,600		KLCC Property Holdings BHD		149
	73,619		Klepierre		3,379
	758,870		Klovern AB (B Shares)		944
	129,352		Korea Real Estate Investment Trust Co		371
	3,022,130		Kowloon Development Co Ltd		3,029

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,466,138	e	K-REIT Asia	$	3,654
	421,249		KSL Holdings BHD		113
	145,095		Kungsleden AB		1,061
	253,185		Kuoyang Construction Co Ltd		110
	2,128,124		KWG Property Holding Ltd		1,410
	78,656,000		Lai Fung Holdings Ltd		1,667
	24,928,250		Lai Sun Development Co Ltd		502
	58,100		Lamar Advertising Co		3,795
	39,121	*	Lamda Development S.A.		201
	785,434		Land Securities Group plc		10,763
	5,690,000		Langham Hospitality Investments Ltd		2,252
	77,985		Lar Espana Real Estate Socimi S.A.		561
	285,571		LaSalle Hotel Properties		6,817
	6,840	*,e	LaSalle Logiport REIT		7,262
	64,849		LEG Immobilien AG.		6,216
	501,257		Lend Lease Corp Ltd		5,432
	855,011		Leopalace21 Corp		5,651
	538,873		Lexington Realty Trust		5,550
	210,189		Liberty Property Trust		8,481
	125,225		Life Storage, Inc		11,138
	24,471	*	Lifestyle Properties Development Ltd		6
	805,328		Link REIT		5,945
	3,635,200	e	Lippo-Mapletree Indonesia Retail Trust		1,000
	360,000		Liu Chong Hing Investment		518
	3,432,000	e	Logan Property Holdings Co Ltd		1,551
	482,182		London & Stamford Property plc		999
	302,000		Long Bon International Co Ltd		171
	3,800,678	e	Longfor Properties Co Ltd		5,871
	3,307,800		LPN Development PCL (Foreign)		1,089
	239,279		LSR Group (GDR)		678
	146,139		LTC Properties, Inc		7,598
	172,129		Macerich Co		13,920
	302,261		Mack-Cali Realty Corp		8,228
	265,957		Macquarie CountryWide Trust		866
	2,068,023		Macquarie Goodman Group		11,591
	2,787,990		Macquarie MEAG Prime REIT		1,679
	1,540,976		Mah Sing Group BHD		605
	35,779	*,e,m	Mapeley Ltd		0	^
	1,701,874		Mapletree Commercial Trust		1,997
	3,787,800		Mapletree Greater China Commercial Trust		3,060
	3,603,319		Mapletree Industrial Trust		4,721
	1,242,473	e	Mapletree Logistics Trust		978
	68,820	*	Marcus & Millichap, Inc		1,800
	721,674		Matrix Concepts Holdings BHD		454
	25,204		Mazaya Qatar Real Estate Development Q.S.C		95
	592,145	e	Medical Properties Trust, Inc		8,746
	228,292	*	Medinet Nasr Housing		365
	69,232,916		Megaworld Corp		6,770
	43,576		Melisron Ltd		1,925
	47,587		Mercialys S.A		1,145
	302,769		Merlin Properties Socimi S.A.		3,585
	1,979,300		Mexico Real Estate Management S.A. de C.V.		2,422

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,170,364	e	MGM Growth Properties LLC	$	30,511
	1,970		MID Reit, Inc		6,103
	223,306		Mid-America Apartment Communities, Inc		20,989
	970,929	*	Midland Holdings Ltd		357
	142,588		Milestone Apartments Real Estate Investment Trust		2,098
	962,000	e	Minmetals Land Ltd		123
	1,716,391		Mirvac Group		2,959
	831,580		Mitsubishi Estate Co Ltd		15,606
	1,391,432		Mitsui Fudosan Co Ltd		29,602
	216,400		MKH BHD		154
	16,056		Mobimo Holding AG.		4,091
	375,054		Monmouth Real Estate Investment Corp (Class A)		5,352
	630,791	e	Monogram Residential Trust, Inc		6,712
	55,961		Morguard Real Estate Investment Trust		672
	1,803		Mori Hills REIT Investment Corp		2,699
	1,125		Mori Trust Sogo Reit, Inc		1,976
	86,032		Multiplan Empreendimentos Imobiliarios S.A.		1,672
	121,229		National Health Investors, Inc		9,514
	175,233		National Retail Properties, Inc		8,911
	210,013		National Storage Affiliates Trust		4,398
	1,173,303		National Storage REIT		1,446
	1,340,000		Neo-China Land Group Holdings Ltd		348
	350,059		New Europe Property Investments plc		3,967
	414,410		New Senior Investment Group, Inc		4,782
	16,179,123		New World Development Co Ltd		21,216
	453,378		New York REIT, Inc		4,148
	621,536		NewRiver REIT plc		2,661
	107,442		Nexity		5,674
	127,176		NexPoint Residential Trust, Inc		2,500
	294,678		Nieuwe Steen Investments NV		1,218
	379		Nippon Accommodations Fund, Inc		1,770
	349		Nippon Building Fund, Inc		2,211
	900	*	Nippon Healthcare Investment Corp		1,586
	1,397		Nippon ProLogis REIT, Inc		3,533
	4,432	*,e	NIPPON REIT Investment Corp		11,362
	571,601		Nomura Real Estate Holdings, Inc		9,662
	4,403		Nomura Real Estate Master Fund, Inc		7,344
	143,423		NorthStar Realty Europe Corp		1,571
	577,086		NorthStar Realty Finance Corp		7,600
	18,436		Northview Apartment Real Estate Investment Trust		307
	114,619		NorthWest Healthcare Properties Real Estate Investment Trust		914
	373,670		Norwegian Property ASA		507
	118,636		NTT Urban Development Corp		1,146
	96,906		Oberoi Realty Ltd		426
	540,153	e	Omega Healthcare Investors, Inc		19,148
	48,760		One Liberty Properties, Inc		1,178
	96,400	e	Open House Co Ltd		2,069
	2,152,000		Optics Valley Union Holding Co Ltd		240
	3,735	e	Orix JREIT, Inc		6,559
	831,200		OUE Hospitality Trust		414
	494,377		Outfront Media, Inc		11,692

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	920,000		Overseas Chinese Town Asia Holdings Ltd	$	343
	6,713,234		Palm Hills Developments SAE		1,784
	494,151		Paramount Group, Inc		8,099
	294,700	e	Parkway Life Real Estate Investment Trust		562
	188,192		Parkway Properties, Inc		3,201
	1,055,497		Parque Arauco S.A.		2,386
	154,792	*	Patrizia Immobilien AG.		3,391
	680,200		Pavilion Real Estate Investment Trust		291
	241,281	e	Pebblebrook Hotel Trust		6,418
	160,884		Pennsylvania REIT		3,705
	733,400		Perennial Real Estate Holdings Ltd		471
	1,299,181		Phoenix Mills Ltd		7,532
	539,461		Physicians Realty Trust		11,620
	174,545		Piedmont Office Realty Trust, Inc		3,800
	8,240,000	*,e	Ping An Securities Group Holdings Ltd		70
	753,200		PLA Administradora Industrial S de RL de C.V.		1,247
	720,100		Platinum Group PCL		130
	1,886		Plazza AG.		456
	1,893,817	e	Poly Hong Kong Investment Ltd		651
	6,766,160		Polytec Asset Holdings Ltd		480
	250,411		Post Properties, Inc		16,560
	94,606		Potlatch Corp		3,679
	3,910,000	e	Powerlong Real Estate Holdings Ltd		1,313
	1,228,181		Precinct Properties New Zealand Ltd		1,163
	52,951	e	Preferred Apartment Communities, Inc		715
	2,381		Premier Investment Co		3,156
	483,745	e	Primary Health Properties plc		702
	2,389,826		Prince Housing & Development Corp		783
	1,518,400		ProLogis Property Mexico S.A. de C.V.		2,487
	1,842,262		Prologis, Inc		98,635
	1,063,000	e	Prosperity REIT		471
	110,512		PS Business Parks, Inc		12,551
	38,684		PSP Swiss Property AG.		3,686
	5,822,700	*	PT Agung Podomoro Land Tbk		129
	9,616,500		PT Alam Sutera Realty Tbk		341
	7,411,347		PT Bumi Serpong Damai		1,256
	22,804,716		PT Ciputra Development Tbk		2,787
	13,361,869		PT Ciputra Property Tbk		661
	2,876,883		PT Ciputra Surya Tbk		596
	62,064,000	*	PT Hanson International Tbk		667
	5,637,500		PT Intiland Development Tbk		259
	116,098,430		PT Kawasan Industri Jababeka Tbk		2,621
	407,700	*	PT Lippo Cikarang Tbk		184
	115,630,248		PT Lippo Karawaci Tbk		8,803
	22,264,900		PT Modernland Realty Tbk		628
	41,313,000		PT Pakuwon Jati Tbk		2,146
	9,724,800		PT Summarecon Agung Tbk		1,315
	398,192		Public Storage, Inc		88,853
	4,346,170	*	Puravankara Projects Ltd		2,946
	343,404		Pure Industrial Real Estate Trust		1,442
	2,000,805	*,e	Purplebricks Group plc		3,423
	129,758		QTS Realty Trust, Inc		6,858

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	16,573,469		Quality House PCL	$	1,169
	625,433		Radium Life Tech Co Ltd		199
	270,161	e	RAIT Investment Trust		913
	995,495		RAK Properties PJSC		163
	317,361		Ramco-Gershenson Properties		5,947
	408,898		Rayonier, Inc		10,852
	4,700		Raysum Co Ltd		30
	39,718		Re/Max Holdings, Inc		1,739
	191,855	*	Realia Business S.A.		209
	423,603		Realogy Holdings Corp		10,954
	289,762		Realty Income Corp		19,394
	852,672	e	Rebosis Property Fund Ltd		707
	500,000	g	Redco Properties Group Ltd		366
	1,024,884		Redefine International plc		568
	4,522,655		Redefine Properties Ltd		3,774
	27,070,000		Regal Real Estate Investment Trust		7,206
	422,863		Regency Centers Corp		32,768
	187,847		Reit Ltd		580
	9,600		Relo Holdings, Inc		1,596
	14,209,250	*,e	Renhe Commercial Holdings Co Ltd		355
	558,788		Resilient REIT Ltd		4,675
	505,536		Retail Opportunities Investment Corp		11,102
	424,153		Retail Properties of America, Inc		7,126
	422,913		Rexford Industrial Realty, Inc		9,681
	380,704		RioCan Real Estate Investment Trust		7,899
	322,478		RLJ Lodging Trust		6,782
	46,375		RMR Group, Inc		1,759
	466,000		Road King Infrastructure		397
	1,134,600		Robinsons Land Corp		726
	668,484		Rojana Industrial Park PCL		96
	363,500	*,e	Ronshine China Holdings Ltd		324
	762,242		Ruentex Development Co Ltd		930
	120,346	e	Ryman Hospitality Properties		5,796
	4,998,761		S.A. Corporate Real Estate Fund Nominees Pty Ltd		1,985
	509,840		Sabana Shari’ah Compliant Industrial REIT		196
	326,699		Sabra Healthcare REIT, Inc		8,226
	755,722		Safestore Holdings plc		3,764
	900	*	Samty Residential Investment Corp		728
	4,964,277		Sansiri PCL		250
	36,959		Saul Centers, Inc		2,461
	370,531		Savills plc		3,437
	1,344,900		SC Asset Corp PCL		130
	6,844,597		Scentre Group		24,710
	468,279		Schroder Real Estate Investment Trust Ltd		348
	743,920		Segro plc		4,371
	680	*	Sekisui House Reit, Inc		1,044
	819	e	Sekisui House SI Residential Investment Corp		934
	165,844		Select Income REIT		4,461
	89,266	e	Selvaag Bolig ASA		451
	366,482		Senior Housing Properties Trust		8,323
	57,830	e	Seritage Growth Properties		2,931
	663,042		Shaftesbury plc		8,329

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	222,100		Shanghai Erfangji Co Ltd	$	263
	73,900	*	Shanghai Huili Building Materials Co Ltd		142
	1,134,187		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,907
	5,065,000	*	Shanghai Zendai Property Ltd		107
	127,400	*	Shenzhen International Enterprise Co Ltd		91
	15,249,213		Shenzhen Investment Ltd		7,319
	233,100		Shenzhen SEG Co Ltd		170
	5,393,668		Shimao Property Holdings Ltd		7,372
	352,913	*	Shining Building Business Co Ltd		121
	191,232		Shoei Co Ltd		1,954
	604,734		Shopping Centres Australasia Property Group		1,048
	20,368,642		Shui On Land Ltd		5,566
	550	*	SIA Reit, Inc		2,073
	851,716		Siam Future Development PCL		149
	206,015		Silver Bay Realty Trust Corp		3,611
	1,024,584		Simon Property Group, Inc		212,099
	1,518,500	*	Singha Estate PCL		206
	1,929,293		Sino Land Co		3,439
	1,834,000	*	Sinolink Worldwide Holdings Ltd		205
	12,622,820		Sino-Ocean Land Holdings Ltd		5,860
	169,614		Sinyi Realty Co		154
	171,071	*	Six of October Development & Investment		234
	2,799		SK D&D Co Ltd		120
	468,762		SL Green Realty Corp		50,673
	9,204,190		SM Prime Holdings		5,361
	99,061		Smart Real Estate Investment Trust		2,669
	994,372		Sobha Developers Ltd		4,376
	2,981,635	e	Soho China Ltd		1,618
	566,600	e	Soilbuild Business Space REIT		291
	55,400		Sonae Sierra Brasil S.A.		315
	107,778		Sparkassen Immobilien AG.		1,134
	1,434,400		SPH REIT		1,052
	1,604,364		Spirit Realty Capital, Inc		21,386
	632,789		Sponda Oyj		3,256
	1,010,000	e	Spring Real Estate Investment Trust		440
	485,112		ST Modwen Properties plc		1,849
	115,422	*,e	St. Joe Co		2,121
	200,673	*	STAG Industrial, Inc		4,919
	583,532		Standard Life Investment Property Income Trust Ltd		620
	2,200	*,e	Starts Proceed Investment Corp		3,628
	3,421,061		Stockland Trust Group		12,529
	557,101		STORE Capital Corp		16,418
	13,317	*,e	Stratus Properties, Inc		325
	56,840		Sumitomo Real Estate Sales Co Ltd		1,161
	409,286		Sumitomo Realty & Development Co Ltd		10,609
	251,325		Sun Communities, Inc		19,724
	154,600		Sun Frontier Fudousan Co Ltd		1,562
	3,034,216		Sun Hung Kai Properties Ltd		46,128
	2,296,522	e	Sunac China Holdings Ltd		1,671
	2,222,000		Sunlight Real Estate Investment Trust		1,420
	938,212		Sunstone Hotel Investors, Inc		12,000

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,708,398		Suntec Real Estate Investment Trust	$	2,154
	1,828,634	*	Sunteck Realty Ltd		6,842
	542,458		Sunway BHD		407
	1,169,500		Sunway Real Estate Investment		489
	492,400		Supalai PCL		345
	674,693		Swire Pacific Ltd (Class A)		7,307
	4,741,901		Swire Properties Ltd		13,947
	61,191		Swiss Prime Site AG.		5,374
	370,245	e	TAG Tegernsee Immobilien und Beteiligungs AG.		5,393
	611,814		Taiwan Land Development Corp		201
	1,259,800	e	Takara Leben Co Ltd		8,521
	1,034	*	Takara Leben Infrastructure Fu		1,072
	1,119,378		Talaat Moustafa Group		681
	174,056		Tanger Factory Outlet Centers, Inc		6,781
	249,143		Taubman Centers, Inc		18,539
	261,023	e	Technopolis plc		956
	33,011	*,e	Tejon Ranch Co		803
	150,662		Terreno Realty Corp		4,145
	194,000		Tian Shan Development Holding Ltd		73
	467,280		Ticon Industrial Connection PCL (Foreign)		215
	113,174	e	Tier REIT, Inc		1,747
	170,785		TLG Immobilien AG.		3,855
	69,900		TOC Co Ltd		584
	338,300		Tokyo Tatemono Co Ltd		4,069
	346,015		Tokyu Fudosan Holdings Corp		1,882
	855		Tokyu REIT, Inc		1,149
	478,611		Torunlar Gayrimenkul Yatirim Ortakligi AS		772
	1,556,300		Tosei Corp		11,711
	2,400	*	Tosei Reit Investment Corp		2,652
	89,836	e	Tricon Capital Group, Inc		634
	43,077	*	Trinity Place Holdings, Inc		421
	2,213,590		Tritax Big Box REIT plc		3,977
	456,000		Tropicana Corp BHD		114
	295,005,396	*	U City PCL		255
	351,551		UDR, Inc		12,652
	1,245,800		UEM Land Holdings BHD		357
	58,967	e	UMH Properties, Inc		703
	152,342		Unibail-Rodamco		41,076
	452,116		Union Properties PJSC		92
	716,601		Unite Group plc		5,889
	50,116,401	*	Unitech Ltd		4,435
	272,397		United Development Co PSC		1,524
	2,139		United Urban Investment Corp		3,891
	699,400		Univentures PCL		118
	28,568		Universal Health Realty Income Trust		1,800
	1,033,548		UOA Development BHD		626
	153,192		UOL Group Ltd		633
	208,844		Urban Edge Properties		5,877
	79,633		Urstadt Biddle Properties, Inc (Class A)		1,769
	60,245		Vastned Retail NV		2,436
	980,298		Ventas, Inc		69,238
	1,129,745		VEREIT, Inc		11,715

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	3,531,333		Vicinity Centres	$	8,612
	12,760,200		Vista Land & Lifescapes, Inc		1,422
	306,883		Vornado Realty Trust		31,060
	1,600,841		Vukile Property Fund Ltd		2,179
	149,876		Wallenstam AB		1,264
	38,379		Warehouses De Pauw SCA		3,815
	2,748,055		Washington Prime Group, Inc		34,021
	170,401		Washington REIT		5,303
	155,969	*	WCM Beteiligungs & Grundbesitz-AG.		520
	137,102		Weingarten Realty Investors		5,344
	825,215		Welltower, Inc		61,701
	36,690		Wereldhave NV		1,858
	1,906,003		Westfield Corp		14,262
	1,835,408		Weyerhaeuser Co		58,623
	5,416,235	*	WHA Corp PCL		489
	4,230,329	e	Wharf Holdings Ltd		31,036
	1,983,064	e	Wheelock & Co Ltd		11,779
	138,347		Whitestone REIT		1,920
	205,934		Wihlborgs Fastigheter AB		4,383
	351,932	e	Wing Tai Holdings Ltd		437
	320,286		Workspace Group plc		2,899
	165,656		WP Carey, Inc		10,690
	282,987		Xenia Hotels & Resorts, Inc		4,296
	35,500	e	Xinyuan Real Estate Co Ltd (ADR)		224
	1,631,300		Yanlord Land Group Ltd		1,678
	788,200	*	Ying Li International Real Estate Ltd		83
	15,678	*	YNH Property BHD		6
	904,066	e	Yoma Strategic Holdings Ltd		393
	495,700		YTL Hospitality REIT		138
	3,322,000		Yuexiu Real Estate Investment Trust		2,026
	32,582,912		Yuexiul Property Co Ltd		5,166
	5,307,120	e	Yuzhou Properties Co		1,972
	3,671,800	*	Zhong An Real Estate Ltd		366
			TOTAL REAL ESTATE		4,544,407
RETAILING - 4.1%
	124,708	*	1-800-FLOWERS.COM, Inc (Class A)		1,144
	247,514		Aaron’s, Inc		6,292
	35,239		ABC-Mart, Inc		2,400
	189,861		Abercrombie & Fitch Co (Class A)		3,017
	144,300		Adastria Holdings Co Ltd		3,315
	148,626		Advance Auto Parts, Inc		22,163
	12,600	e	Alpen Co Ltd		227
	1,409,555	*	Amazon.com, Inc		1,180,234
	479,156	e	American Eagle Outfitters, Inc		8,558
	16,802	*,e	America’s Car-Mart, Inc		611
	178,627	*,e	AO World plc		391
	40,200		AOKI Holdings, Inc		455
	38,741		Aoyama Trading Co Ltd		1,340
	83,600		Arc Land Sakamoto Co Ltd		939
	11,700	*,e	Asahi Co Ltd		146
	47,184	*	Asbury Automotive Group, Inc		2,627

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	400,209	*,e	Ascena Retail Group, Inc	$	2,237
	16,400	e	ASKUL Corp		622
	229,243	*	ASOS plc		14,426
	15,078	*	At Home Group, Inc		228
	55,588	e	Autobacs Seven Co Ltd		797
	23,547	e	AutoCanada, Inc		398
	292,780	e	Automotive Holdings Group Ltd		964
	163,142	*	Autonation, Inc		7,947
	104,338	*	AutoZone, Inc		80,167
	3,420,881		B&M European Value Retail S.A.		11,302
	144,400	*	B2W Companhia Global Do Varejo		708
	130,625	*	Barnes & Noble Education, Inc		1,250
	297,984		Barnes & Noble, Inc		3,367
	10		Beauty Community PCL (ADR)		0	^
	1,667,400		Beauty Community PCL (Foreign)		457
	494,402		Bed Bath & Beyond, Inc		21,314
	38,400		Belluna Co Ltd		238
	20,540,000		BEP International Holdings Ltd		1,333
	1,447,360		Berjaya Auto BHD		798
	665,412	e,n	Best Buy Co, Inc		25,405
	73,900		BIC CAMERA, Inc		614
	35,974		Big 5 Sporting Goods Corp		490
	104,389	e	Big Lots, Inc		4,985
	154,864		Bilia AB		3,818
	38,401		Blue Nile, Inc		1,322
	1,582,032	*,e	boohoo.com plc		2,092
	32,866	*,e	Boot Barn Holdings, Inc		374
	537,000	*,e,m	Boshiwa International Holding		1
	65,809	e	Buckle, Inc		1,581
	31,839	*	Build-A-Bear Workshop, Inc		330
	258,466	*	Burlington Stores, Inc		20,941
	188,315	e	Burson Group Ltd		877
	50,061		Byggmax Group AB		378
	191,667	*	Cabela’s, Inc		10,528
	227,694		Caleres, Inc		5,758
	69,618		Canadian Tire Corp Ltd		6,972
	190,100		Canon Marketing Japan, Inc		3,538
	576,610		Card Factory plc		2,293
	584,795	*,e	Carmax, Inc		31,199
	18,128		Cashbuild Ltd		558
	71,050		Cato Corp (Class A)		2,337
	599,868		Chico’s FAS, Inc		7,138
	80,521	e	Children’s Place Retail Stores, Inc		6,431
	366,000		China Animation Characters Co Ltd		185
	2,352,000	*	China Beidahuang Industry Group Holdings Ltd		139
	1,288,000	e	China Harmony New Energy Auto Holding Ltd		630
	2,200,000	e	China Yongda Automobiles Services Holdings Ltd		1,019
	8,583,500	e	China ZhengTong Auto Services Holdings Ltd		2,733
	13,500		Chiyoda Co Ltd		332
	23,300		Chori Co Ltd		343
	419,000	e	Chow Sang Sang Holding		742

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	138,100		Cia Hering	$	764
	107,691		Citi Trends, Inc		2,146
	23,217		CJ O Shopping Co Ltd		3,403
	94,845	e	Clas Ohlson AB (B Shares)		1,477
	388,000	*,e,g	Cogobuy Group		645
	79,100		COL PCL (Foreign)		75
	28,641	*,e	Conn’s, Inc		296
	3,043,601	*,a,e	Container Store Group, Inc		15,279
	122,687		Core-Mark Holding Co, Inc		4,392
	266,737		CST Brands, Inc		12,827
	816,906	*,e	Ctrip.com International Ltd (ADR)		38,043
	800,000	e	Dah Chong Hong Holdings Ltd		325
	122,000	*	Daohe Global Group Ltd		51
	459,800	e	DCM Japan Holdings Co Ltd		3,951
	989,612		Debenhams plc		715
	30,747		Delek Automotive Systems Ltd		269
	4,406		Delticom AG.		82
	96,738	*	Destination XL Group, Inc		419
	190,029	b,e,m	Dick Smith Holdings Ltd		1
	263,950		Dick’s Sporting Goods, Inc		14,971
	492,286		Dickson Concepts International Ltd		170
	36,967		Dieteren S.A.		1,724
	59,842	e	Dillard’s, Inc (Class A)		3,771
	1,445,900	*	DNA 2002 PCL		75
	55,422		Dogus Otomotiv Servis ve Ticaret AS		186
	940,687		Dollar General Corp		65,839
	679,465	*	Dollar Tree, Inc		53,630
	302,937	e	Dollarama, Inc		23,652
	98,600		Don Quijote Co Ltd		3,617
	19,000		Doshisha Co Ltd		399
	157,036		DSW, Inc (Class A)		3,216
	33,288	*	Dufry Group		4,173
	22,411	*,e	Duluth Holdings, Inc		594
	213,483		Dunelm Group plc		2,358
	81,584	g	Dustin Group AB		586
	160,083	e	EDION Corp		1,341
	220,036	e	El Puerto de Liverpool SAB de C.V.		2,306
	2,600,000	*	Empresas La Polar S.A.		118
	1,955,700	*,e	Esprit Holdings Ltd		1,591
	374,786	*,e	Etsy, Inc		5,352
	136,155	g	Europris ASA		689
	530,156		Expedia, Inc		61,880
	308,863	*	Express Parent LLC		3,642
	876,830		Far Eastern Department Stores Co Ltd		474
	58,975		Fast Retailing Co Ltd		18,991
	34,172	*	FF Group		850
	185,532		Finish Line, Inc (Class A)		4,282
	125,972	*,e	Five Below, Inc		5,075
	633,156	e	Foot Locker, Inc		42,877
	239,449		Foschini Ltd		2,430
	166,499	*	Francesca’s Holdings Corp		2,569
	81,914		Fred’s, Inc (Class A)		742

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	41,076	*	FTD Cos, Inc	$	845
	15,000		Fuji Co Ltd		303
	651,529	*	Future Enterprises Ltd		1,468
	3,668	*,e	Gaia, Inc		26
	81,960	e	GAME Digital plc		80
	494,239	e	GameStop Corp (Class A)		13,636
	690,635	e	Gap, Inc		15,360
	50,799	*	Genesco, Inc		2,767
	420,183	e	Genuine Parts Co		42,207
	169,800	e	Geo Corp		2,197
	2,910,000		Giordano International Ltd		1,500
	272,733		GNC Holdings, Inc		5,569
	406,799	e	Golden Eagle Retail Group Ltd		518
	576,000		Goldlion Holdings Ltd		231
	200,368		GOLFZONYUWONHOLDINGS Co Ltd		1,418
	27,639,844	e	GOME Electrical Appliances Holdings Ltd		3,410
	72,584	e	Greencross Ltd		359
	93,789		Group 1 Automotive, Inc		5,991
	24,302	*	Groupe Fnac		1,785
	3,629,244	*,e	Groupon, Inc		18,691
	242,527	*,e	Grupo Famsa SAB de C.V.		104
	11,030		GS Home Shopping, Inc		1,651
	142,852		Guess?, Inc		2,087
	50,100	e	Gulliver International Co Ltd		281
	649		GwangjuShinsegae Co Ltd		153
	159,751		Halfords Group plc		724
	212,025		Hankyu Department Stores, Inc		3,016
	1,824		Hanwha Galleria Timeworld Co Ltd		73
	1,272,216		Harvey Norman Holdings Ltd		5,093
	68,982		Haverty Furniture Cos, Inc		1,382
	10,374,762	e	Hengdeli Holdings Ltd		1,157
	764,273		Hennes & Mauritz AB (B Shares)		21,572
	53,145	*,e	Hibbett Sports, Inc		2,121
	21,100		Hikari Tsushin, Inc		1,959
	4,894,188		Home Depot, Inc		629,784
	3,480,294		Home Product Center PCL (Foreign)		1,014
	6,491		Hornbach Baumarkt AG.		201
	38,826		Hostelworld Group PLC		94
	248,518		Hotai Motor Co Ltd		2,919
	37,872	e	Hotel Shilla Co Ltd		2,092
	84,549		HSN, Inc		3,365
	60,093	e	Hudson’s Bay Co		772
	15,185		Hyundai Department Store Co Ltd		1,641
	5,498		Hyundai Home Shopping Network Corp		610
	250,230	e	Imperial Holdings Ltd		3,055
	990,978		Inchcape plc		8,456
	1,964,828		Industria De Diseno Textil S.A.		72,852
	35,725		Interpark Corp		165
	11,049		Interpark INT Corp		141
	24,789,865	*	Intime Retail Group Co Ltd		21,740
	240,028		Isetan Mitsukoshi Holdings Ltd		2,363

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	578,000		IT Ltd	$	188
	32,500	e	Izumi Co Ltd		1,401
	457,019		J Front Retailing Co Ltd		5,984
	240,109		Jardine Cycle & Carriage Ltd		7,584
	461,335	e	JB Hi-Fi Ltd		10,268
	4,039,767	*	JC Penney Co, Inc		37,247
	140,651		JD Sports Fashion plc		2,689
	1,000,396	*,e	JD.com, Inc (ADR)		26,100
	11,400	e	Jin Co Ltd		529
	60,289		John Menzies plc		456
	88,000		Joshin Denki Co Ltd		757
	24,100	e	Joyful Honda Co Ltd		629
	212,473		JUMBO S.A.		2,655
	54,900	*	Jumei International Holding Ltd (ADR)		321
	262,847		KappAhl Holding AB		1,340
	66,087	e	Keiyo Co Ltd		338
	61,429		Kering		12,395
	1,398,438		Kingfisher plc		6,823
	65,000	*	Kintetsu Department Store Co Ltd		225
	29,738		Kirkland’s, Inc		362
	360,064		Kohl’s Corp		15,753
	121,800	e	Kohnan Shoji Co Ltd		2,369
	18,699		Kolao Holdings		155
	98,300		Komeri Co Ltd		2,392
	371,000	e	Koradior Holdings Ltd		555
	73,200	e	K’s Holdings Corp		1,210
	401,023		L Brands, Inc		28,380
	32,353	*,e	Lands’ End, Inc		469
	22,700	*,e	Laox Co Ltd		164
	58,527		LEADCORP, Inc		461
	274,903	e	Lewis Group Ltd		821
	4,501,119	e	Li & Fung Ltd		2,319
	2,014,393	*	Liberty Interactive Corp		40,308
	341,241	*	Liberty TripAdvisor Holdings, Inc		7,456
	345,073	*	Liberty Ventures		13,758
	55,497		Lithia Motors, Inc (Class A)		5,301
	740,086	*	LKQ Corp		26,243
	161,124		Lojas Americanas S.A.		710
	690,094		Lojas Americanas S.A.(Preference)		4,284
	697,745		Lojas Renner S.A.		5,250
	1,105,831		Lookers plc		1,641
	25,865		LOTTE Himart Co Ltd		1,044
	11,082		Lotte Shopping Co Ltd		2,087
	3,190,084		Lowe’s Companies, Inc		230,356
	536,000	e	Luk Fook Holdings International Ltd		1,316
	57,187	*,e	Lumber Liquidators, Inc		1,125
	1,573,684		Macy’s, Inc		58,305
	247,154	*,e	MakeMyTrip Ltd		5,833
	1,226,000	e	Maoye International Holdings Ltd		122
	53,825	*	MarineMax, Inc		1,128
	59,290		Marisa Lojas S.A.		137
	7,354,095		Marks & Spencer Group plc		31,550

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	463,723	e	Marui Co Ltd	$	6,126
	88,073		Matas A.S.		1,651
	21,400	e	Matsuya Co Ltd		151
	360,900		MBM Resources BHD		218
	18,160	e	Mekonomen AB		354
	565,367	*	Michaels Cos, Inc		13,665
	3		Mobile World Investment Corp		0	^
	78,066	e	Mobilezone Holding AG.		1,145
	34,000		momo.com, Inc		229
	73,334	e	Monro Muffler, Inc		4,486
	275,657		Mr Price Group Ltd		3,049
	230,696	*	Murphy USA, Inc		16,463
	892,796	e	Myer Holdings Ltd		801
	127,031		N Brown Group plc		313
	1,315,151	*	NetFlix, Inc		129,608
	782,532		New Carphone Warehouse plc		3,738
	537,000		New World Department Store China Ltd		79
	116,161		Next plc		7,190
	37,200		Nishimatsuya Chain Co Ltd		565
	102,812		Nitori Co Ltd		12,324
	56,100		Nojima Corp		697
	419,048	e	Nordstrom, Inc		21,740
	1,585	*	NS Shopping Co Ltd		231
	169,486		Nutri/System, Inc		5,032
	413,099	*,e	Ocado Ltd		1,418
	3,151,019		Office Depot, Inc		11,249
	43,136	*,e	Ollie’s Bargain Outlet Holdings, Inc		1,131
	768,612	*,e,g	On the Beach Group plc		2,000
	207,652	*	O’Reilly Automotive, Inc		58,165
	33,557	*	Overstock.com, Inc		514
	1,350,100		Padini Holdings BHD		930
	9,000	e	Pal Co Ltd		209
	143,100		Paltac Corp		3,353
	17,700		Parco Co Ltd		166
	341,476	*	Parkson Holdings BHD		64
	985,500	e	Parkson Retail Group Ltd		106
	62,303	*,e	Party City Holdco, Inc		1,067
	139,680	*,e	PC Depot Corp		699
	102,839		PC Jeweller Ltd		751
	97,751	e	Penske Auto Group, Inc		4,710
	47,244	e	PetMed Express, Inc		958
	308,340		Pets at Home Group plc		940
	194,154	e	Pier 1 Imports, Inc		823
	6,596,500		Pou Sheng International Holdings Ltd		2,189
	72,528		Poya Co Ltd		1,081
	170,969		Premier Investments Ltd		2,042
	139,189	*	Priceline.com, Inc		204,815
	11,000,700		PT ACE Hardware Indonesia Tbk		739
	5,019,623		PT Matahari Department Store Tbk		7,128
	718,700	*	PT Mitra Adiperkasa Tbk		254
	7,099,600		PT Multipolar Corp Tbk		195
	9,160,400		PT Ramayana Lestari Sentosa Tbk		773

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,823,200		PTG Energy PCL	$	1,373
	4,572,500	*	Qianhai Health Holdings Ltd		105
	36,700	*,e	Qunar Cayman Islands Ltd (ADR)		1,064
	1,185,023		Rakuten, Inc		15,468
	878,364	e	RCG Corp Ltd		1,098
	221,889	e	Rent-A-Center, Inc		2,805
	88,413	*,e	Restoration Hardware Holdings, Inc		3,057
	117,700	e	Right On Co Ltd		1,213
	1,741,164		Ripley Corp S.A.		1,071
	308,500		Robinson Department Store PCL		542
	929,832		Ross Stores, Inc		59,788
	16,000		Ryohin Keikaku Co Ltd		3,231
	505,184		SA SA International Holdings Ltd		215
	1,550,526		SACI Falabella		11,369
	413,735	*,e	Sally Beauty Holdings, Inc		10,625
	39,900	e	Sanrio Co Ltd		732
	30,014	*,e	Sears Holdings Corp		344
	24,987	*	Sears Hometown and Outlet Stores, Inc		123
	168,343	*	Select Comfort Corp		3,636
	290,000		Senao International Co Ltd		486
	18,000	e	Senshukai Co Ltd		125
	14,705	*	Seobu Truck Terminal Co Ltd		258
	39,200	e	Seria Co Ltd		3,152
	43,000		Shimachu Co Ltd		1,071
	18,303		Shimamura Co Ltd		2,228
	27,075		Shinsegae Co Ltd		4,479
	2,331		Shinsegae International Co Ltd		169
	32,122	e	Shoe Carnival, Inc		856
	20,931		Shopper’s Stop Ltd		115
	101,587	*	Shutterfly, Inc		4,535
	957,970		Siam Global House PCL		402
	1,419,000	e	Sichuan Xinhua Winshare Chainstore Co Ltd		1,463
	136,875		Signet Jewelers Ltd		10,201
	2,860,000	*,e	Sincere Watch Hong Kong Ltd		75
	64,402	g	Sleep Country Canada Holdings, Inc		1,529
	162,144	e	Sonic Automotive, Inc (Class A)		3,048
	215,960	*,e	Sports Direct International plc		804
	61,357	*	Sportsman’s Warehouse Holdings, Inc		646
	10,628	*,g	SRP Groupe S.A.		230
	52,327	e	Stage Stores, Inc		294
	1,245,065		Staples, Inc		10,645
	331,200		Start Today Co Ltd		5,699
	73,741		Stein Mart, Inc		468
	28,183	*,e	Stockmann Oyj Abp (B Share)		214
	397,872		Super Cheap Auto Group Ltd		3,119
	325,519	*	Super Group Ltd		1,007
	67,221		SuperGroup plc		1,309
	1,370,000		Symphony Holdings Ltd		144
	40,000	e	Syuppin Co Ltd		426
	144,883	e	Tailored Brands, Inc		2,275
	210,819		Takashimaya Co Ltd		1,731
	67,458		Takkt AG.		1,513

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,671,641		Target Corp	$	114,808
	34,200		Telepark Corp		489
	7,322,865		Test-Rite International Co		4,503
	345,601	e	Tiffany & Co		25,101
	127,465	*,e	Tile Shop Holdings, Inc		2,110
	101,861	*	Tilly’s, Inc		957
	1,745,064		TJX Companies, Inc		130,496
	9,600	*	Tokyo Base Co Ltd		215
	13,300	e	Tokyo Derica Co Ltd		143
	318,259		Topps Tiles plc		463
	276,181		Tractor Supply Co		18,601
	658,093		Trade Me Ltd		2,697
	257,885	*	TripAdvisor, Inc		16,293
	905,203	e	Truworths International Ltd		4,691
	104,535	*	Tuesday Morning Corp		625
	157,485	*	Ulta Salon Cosmetics & Fragrance, Inc		37,478
	33,813		Uni-Select, Inc		824
	20,099		United Arrows Ltd		490
	428,881	*	Urban Outfitters, Inc		14,805
	153,103		USS Co Ltd		2,591
	8,041		Valora Holding AG.		2,291
	120,800		Via Varejo S.A.		237
	912,840	*,e	Vipshop Holdings Ltd (ADR)		13,391
	55,549	*,e	Vitamin Shoppe, Inc		1,492
	74,700	e	VT Holdings Co Ltd		398
	216,049	e	Warehouse Group Ltd		461
	114,948	*,e	Wayfair, Inc		4,526
	67,960	*	West Marine, Inc		562
	258,694		WH Smith plc		5,161
	166,066	e	Williams-Sonoma, Inc		8,483
	5,503		Winmark Corp		581
	1,912,428		Woolworths Holdings Ltd		10,798
	20,800		Xebio Co Ltd		312
	316,404	g	XXL ASA		4,337
	511,285		Yamada Denki Co Ltd		2,536
	19,200		Yellow Hat Ltd		395
	84,701	*,e	Yoox S.p.A		2,625
	97,052	*,g	Zalando SE		4,055
	617,523		Zhongsheng Group Holdings Ltd		591
	4,465	*	zooplus AG.		647
	38,681	*	Zumiez, Inc		696
			TOTAL RETAILING		4,633,970
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.1%
	13,216	*,e	Acacia Communications, Inc		1,365
	193,615		A-DATA Technology Co Ltd		309
	177,967	*	Advanced Energy Industries, Inc		8,421
	6,916,284	*,e	Advanced Micro Devices, Inc		47,792
	62,960,968		Advanced Semiconductor Engineering, Inc		75,614
	1,367,078	e	Advanced Semiconductor Engineering, Inc (ADR)		8,079
	131,000		Advanced Wireless Semiconductor Co		214
	343,700	e	Advantest Corp		4,656

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	86,989	*,e	Aixtron AG.	$	529
	168,466	*	Alpha & Omega Semiconductor Ltd		3,659
	149,188	*,e	Ambarella, Inc		10,982
	260,932	*	Amkor Technology, Inc		2,536
	54,249	e	ams AG.		1,763
	1,021,255	e	Analog Devices, Inc		65,820
	7,037,301		Applied Materials, Inc		212,175
	172,833	*	Applied Micro Circuits Corp		1,201
	359,738		Ardentec Corp		275
	19,362	*	Asia Pacific Systems, Inc		434
	38,752		ASM International NV		1,584
	402,504	e	ASM Pacific Technology		3,332
	21,000		ASMedia Technology, Inc		183
	620,480		ASML Holding NV		67,999
	19,000		ASPEED Technology, Inc		274
	30,371	*	Atto Co Ltd		204
	68,280	*	Axcelis Technologies, Inc		907
	166,104		BE Semiconductor Industries NV		5,667
	1,738,750		Broadcom Ltd		299,969
	167,569		Brooks Automation, Inc		2,281
	54,799		Cabot Microelectronics Corp		2,899
	163,066	*,e	Cavium, Inc		9,490
	54,491	*	Ceva, Inc		1,911
	870,000	e	China Electronics Corp Holdings Co Ltd		209
	11,538	*,e,m	China Energy Savings Technology, Inc		0
	2,926,000	*	China Soft Power Technology Holdings Ltd		78
	549,000		Chipbond Technology Corp		808
	600,000		ChipMOS Technologies, Inc		583
	270,693	*	Cirrus Logic, Inc		14,387
	82,195		Cohu, Inc		965
	192,170	*,e	Cree, Inc		4,943
	812,010	e	Cypress Semiconductor Corp		9,874
	96,923		Dainippon Screen Manufacturing Co Ltd		6,248
	63,874	*	Dialog Semiconductor plc		2,463
	90,226	*	Diodes, Inc		1,925
	36,472		Disco Corp		4,320
	29,455	*	Dongbu HiTek Co Ltd		479
	83,095	*	DSP Group, Inc		998
	370,000		Elan Microelectronics Corp		437
	748,080		Elite Advanced Laser Corp		2,701
	235,000		Elite Semiconductor Memory Technology, Inc		267
	64,571		eMemory Technology, Inc		693
	328,795	*	Entegris, Inc		5,728
	8,093		Eo Technics Co Ltd		478
	918,000		Epistar Corp		699
	322,167	*	E-Ton Solar Tech Co Ltd		102
	12,242		Eugene Technology Co Ltd		215
	366,000		Everlight Electronics Co Ltd		588
	151,680	*	Exar Corp		1,412
	200,060		Faraday Technology Corp		206
	205,336	*,e	First Solar, Inc		8,109
	375,000		Forhouse Corp		155

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	264,709	*	Formfactor, Inc	$	2,872
	263,000		Formosa Advanced Technologies Co Ltd		190
	13,745,308	e	GCL Poly Energy Holdings Ltd		1,842
	22,605	*	GemVax & Kael Co Ltd		358
	25,686		Giga Solar Materials Corp		305
	287,986	*	Gigastorage Corp		212
	144,532	*,e	GigOptix, Inc		340
	378,273	*	Gintech Energy Corp		261
	81,000		Global Unichip Corp		196
	124,000		Globalwafers Co Ltd		306
	193,500		Globetronics Technology BHD		171
	976,000		Greatek Electronics, Inc		1,245
	241,561	*	Green Energy Technology, Inc		140
	12,960	*	G-SMATT GLOBAL Co Ltd		326
	1,309,600		Hana Microelectronics PCL (Foreign)		1,203
	58,405		Hanmi Semiconductor Co Ltd		737
	13,437	*	Hansol LCD, Inc		199
	54,901		Hermes Microvision, Inc		2,391
	157,000		Holtek Semiconductor, Inc		252
	885,000	g	Hua Hong Semiconductor Ltd		1,032
	723,281		Hynix Semiconductor, Inc		26,552
	217,117	*,e	Imagination Technologies Group plc		694
	11,020	*	Impinj, Inc		412
	1,697,824		Infineon Technologies AG.		30,275
	2,755,718	*	Inotera Memories, Inc		2,432
	171,606	*,e	Inphi Corp		7,467
	471,493	*	Integrated Device Technology, Inc		10,891
	14,245,867		Intel Corp		537,781
	311,997		Intersil Corp (Class A)		6,842
	7,581		ISC Co Ltd		149
	113,691		IXYS Corp		1,370
	37,900	*,e	JA Solar Holdings Co Ltd (ADR)		228
	20,700	*	Japan Material Co Ltd		784
	19,600	*,e	JinkoSolar Holding Co Ltd (ADR)		310
	33,976	*	Jusung Engineering Co Ltd		328
	89,268		KC Tech Co Ltd		1,397
	1,039,000		King Yuan Electronics Co Ltd		924
	247,000		Kinsus Interconnect Technology Corp		578
	278,294		Kla-Tencor Corp		19,400
	10,500		Koh Young Technology, Inc		437
	186,250	*,e	Kopin Corp		406
	1,199	*	Kulicke & Soffa Industries, Inc		15
	1,142,486	e	Lam Research Corp		108,205
	46,800		Land Mark Optoelectronics Corp		519
	11,890,000	*	Landing International Development		309
	279,268	*	Lattice Semiconductor Corp		1,812
	9,439		LEENO Industrial Inc		386
	344,726		Lextar Electronics Corp		158
	576,328		Linear Technology Corp		34,170
	150,048		Lite-On Semiconductor Corp		113
	36,997		Lumens Co Ltd		142
	53,652	*,e	MA-COM Technology Solutions		2,272

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	228,800		Malaysian Pacific Industries BHD	$	432
	3,775	*,e	Manz Automation AG.		153
	1,661,050		Marvell Technology Group Ltd		22,042
	1,225,763		Maxim Integrated Products, Inc		48,945
	220,589	*	MaxLinear, Inc		4,471
	2,150,894		MediaTek, Inc		16,514
	14,200	e	Megachips Corp		291
	46,964		Melexis NV		3,374
	304,704	*,e	Mellanox Technologies Ltd		13,178
	74,452	*,e	Meyer Burger Technology AG.		254
	557,537	e	Microchip Technology, Inc		34,645
	5,165,556	*,n	Micron Technology, Inc		91,844
	29,200	e	Micronics Japan Co Ltd		392
	659,805	*	Microsemi Corp		27,699
	47,400		Mimasu Semiconductor Industry Co Ltd		562
	15,800		Mitsui High-Tec, Inc		109
	135,077		MKS Instruments, Inc		6,717
	89,870		Monolithic Power Systems, Inc		7,235
	342,000	*	Motech Industries, Inc		348
	65,188	*	Nanometrics, Inc		1,456
	720,000		Nanya Technology Corp		905
	727,324		Neo Solar Power Corp		379
	151,569	*	NeoPhotonics Corp Ltd		2,477
	101,855	*,e	Nordic Semiconductor ASA		498
	597,752		Novatek Microelectronics Corp Ltd		2,118
	11,200	e	Nuflare Technology, Inc		585
	11,025		NVE Corp		650
	1,853,746		Nvidia Corp		127,019
	890,672	*	NXP Semiconductors NV		90,857
	2,674,434	*	ON Semiconductor Corp		32,949
	30,000		On-Bright Electronics, Inc		216
	555,000	*	Orient Semiconductor Electronics Ltd		224
	214,127		Orise Technology Co Ltd		259
	57,401		Parade Technologies Ltd		588
	92,050	*	PDF Solutions, Inc		1,673
	741,895		Phison Electronics Corp		5,666
	191,760	*	Photronics, Inc		1,977
	111,613		Pixart Imaging, Inc		249
	107,388		Power Integrations, Inc		6,769
	3,345,197		Powertech Technology, Inc		8,694
	390,376	*	Qorvo, Inc		21,760
	3,892,092		Qualcomm, Inc		266,608
	413,000		Radiant Opto-Electronics Corp		675
	252,228	*	Rambus, Inc		3,153
	1,688,333		Realtek Semiconductor Corp		5,572
	1,770,274	*,e	REC Silicon ASA		248
	151,291		Rohm Co Ltd		7,975
	67,802	*	Rudolph Technologies, Inc		1,203
	167,577		Samsung Electronics Co Ltd		244,120
	29,619		Samsung Electronics Co Ltd (Preference)		34,796
	88,000		Sanken Electric Co Ltd		284
	48,110,487	*	Semiconductor Manufacturing International		5,420

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	230,358	*	Semtech Corp	$	6,388
	35,116		Seoul Semiconductor Co Ltd		471
	218,000	*,e	Shanghai Fudan Microelectronics Group Co Ltd		181
	55,000		Shindengen Electric Manufacturing Co Ltd		217
	225,000	*	Shinkawa Ltd		1,573
	339,600		Shinko Electric Industries		1,922
	35,000		ShunSin Technology Holding Ltd		156
	88,479	*	Sigma Designs, Inc		689
	303,000		Sigurd Microelectronics Corp		227
	47,934		Silergy Corp		711
	108,075	*	Silicon Laboratories, Inc		6,355
	49,831		Silicon Works Co Ltd		1,356
	2,249,807		Siliconware Precision Industries Co		3,379
	23,707	*	Siltronic AG.		627
	486,000		Sino-American Silicon Products, Inc		511
	578,000		Sitronix Technology Corp		1,916
	437,084		Skyworks Solutions, Inc		33,280
	9,198	e	SMA Solar Technology AG.		294
	1,131,435		STMicroelectronics NV		9,247
	56,651	*	STS Semiconductor & Telecommunications		128
	225,600	e	Sumco Corp		1,856
	460,000		Sunplus Technology Co Ltd		170
	107,272	*,e	SunPower Corp		957
	5,309,600		SVI PCL (Foreign)		715
	194,000		Taiwan Semiconductor Co Ltd		229
	48,310,996		Taiwan Semiconductor Manufacturing Co Ltd		283,979
	954,288		Taiwan Surface Mounting Technology Co Ltd		805
	394,580		Teradyne, Inc		8,515
	220,344		Tessera Technologies, Inc		8,470
	2,127,964		Texas Instruments, Inc		149,341
	4,571		Tokai Carbon Korea Co Ltd		132
	253,181		Tokyo Electron Ltd		22,377
	58,300		Tokyo Seimitsu Co Ltd		1,556
	543,511		Topco Scientific Co Ltd		1,476
	14,831		Toptec Co Ltd		265
	65,279	*	Tower Semiconductor Ltd		975
	1,746,000	*,m	Trony Solar Holdings Co Ltd.		2
	219,800	m	TrueLight Corp		450
	18,806		U-Blox AG.		4,071
	10,100	e	UKC Holdings Corp		166
	86,229	*	Ultra Clean Holdings		639
	50,831	*	Ultratech, Inc		1,173
	107,400		Ulvac, Inc		3,210
	1,548,900		Unisem M BHD		945
	28,631,871		United Microelectronics Corp		10,573
	3,257,228		Vanguard International Semiconductor Corp		6,120
	121,284	*	Veeco Instruments, Inc		2,381
	221,425	m	Visual Photonics Epitaxy Co Ltd		314
	332,503		Win Semiconductors Corp		978
	2,534,000		Winbond Electronics Corp		819
	23,269	*	WONIK IPS Co Ltd		542
	126,050	*	Xcerra Corp		764

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,501,420		Xilinx, Inc	$	81,587
	140,000		XinTec, Inc		153
	4,648,000	e	Xinyi Solar Holdings Ltd		1,753
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		3,550,243
SOFTWARE & SERVICES - 10.3%
	82,600	*,e	21Vianet Group, Inc (ADR)		657
	83,262	*,e	2U, Inc		3,188
	110,300	*,e	58.COM, Inc (ADR)		5,257
	569,447	*	A10 Networks, Inc		6,087
	2,152,302		Accenture plc		262,947
	267,402	*	ACI Worldwide, Inc		5,182
	1,651,438		Activision Blizzard, Inc		73,159
	5,391	*	Actoz Soft Co Ltd		88
	150,173	*	Actua Corp		1,945
	209,345	*	Acxiom Corp		5,579
	16,000		Addcn Technology Co Ltd		124
	2,369,761	*	Adobe Systems, Inc		257,214
	2,424,000	*	AGTech Holdings Ltd		484
	5,839		Ahnlab, Inc		332
	282,148	*	Akamai Technologies, Inc		14,951
	23,985	*,e	Alarm.com Holdings, Inc		692
	2,269,642	*	Alibaba Group Holding Ltd (ADR)		240,105
	44,736	*,e	ALJ Regional Holdings, Inc		210
	183,549	*	Alliance Data Systems Corp		39,377
	249,787		Alpha Systems, Inc		4,109
	953,908	*	Alphabet, Inc (Class A)		766,999
	1,140,904	*	Alphabet, Inc (Class C)		886,813
	60,586		Alten		4,238
	230,538	e	Altium Ltd		1,633
	382,440		Altran Technologies S.A.		5,655
	617,220		Amadeus IT Holding S.A.		30,807
	96,908	*	Amber Road, Inc		935
	1,149,486		Amdocs Ltd		66,498
	60,185	*	American Software, Inc (Class A)		668
	92,039	*,e	Angie’s List, Inc		912
	147,682	*	Ansys, Inc		13,677
	32,665	*,e	Apigee Corp		568
	20,008	*,e	Appfolio, Inc		389
	330,856	*	Aspen Technology, Inc		15,481
	174,179		Asseco Poland S.A.		2,539
	24,300	e	Ateam, Inc		570
	32,641	*	Atlassian Corp plc		978
	273,205		Atos Origin S.A.		29,413
	1,868,601	g	Auto Trader Group plc		9,823
	61,402	*	Autobytel, Inc		1,093
	384,472	*	Autodesk, Inc		27,809
	1,066,292		Automatic Data Processing, Inc		94,047
	52,582		Aveva Group plc		1,359
	17,806		Axway Software S.A.		564
	594,009	*,e	Baidu, Inc (ADR)		108,151
	141,310	*	Bankrate, Inc		1,198

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	19,300	*,e	Baozun, Inc (ADR)	$	291
	115,897	*	Barracuda Networks, Inc		2,953
	423,553	*	Bazaarvoice, Inc		2,503
	36,717		Bechtle AG.		4,251
	30,244	*,e	Benefitfocus, Inc		1,207
	22,500	*,e	Bitauto Holdings Ltd (ADR)		654
	45,731	*,e	Black Knight Financial Services, Inc		1,870
	109,910		Blackbaud, Inc		7,291
	130,576	*	Blackhawk Network Holdings, Inc		3,939
	89,340	*	Blucora, Inc		1,001
	501,078		Booz Allen Hamilton Holding Co		15,839
	119,020	*	Bottomline Technologies, Inc		2,774
	194,142	*,e	Box, Inc		3,060
	999,000	*	Boyaa Interactive International Ltd		592
	161,960	*	Brightcove, Inc		2,114
	17,100		Broadleaf Co Ltd		188
	287,778		Broadridge Financial Solutions, Inc		19,508
	67,447	*,e	BroadSoft, Inc		3,140
	23,900		Brogent Technologies, Inc		160
	1,558,263		CA, Inc		51,547
	70,000	*	CAC Holdings Corp		595
	59,647	*	CACI International, Inc (Class A)		6,018
	771,028	*	Cadence Design Systems, Inc		19,684
	137,301	*	Callidus Software, Inc		2,519
	13,324	e	Cancom SE		696
	416,431		Cap Gemini S.A.		40,828
	51,286		Capcom Co Ltd		1,262
	61,387	*	Carbonite, Inc		943
	105,160	*	Cardtronics plc		4,690
	90,519	*	Care.com, Inc		902
	266,953		carsales.com Ltd		2,453
	25,098		Cass Information Systems, Inc		1,422
	198,234	*	CD Projekt Red S.A.		2,067
	317,887		CDK Global, Inc		18,234
	12,082	*,m	Cegid Group S.A.		14
	321,490	*	CGI Group, Inc		15,313
	10,900	*	Changyou.com Ltd (ADR)		297
	60,800		Chanjet Information Technology Co Ltd		75
	90,562	*	ChannelAdvisor Corp		1,171
	236,310	*,e	Check Point Software Technologies		18,340
	25,900	*,e	Cheetah Mobile, Inc (ADR)		323
	620,000	*,e	China City Railway Transportation Technology Holdings Co Ltd		125
	1,722,000	*,e	Chinasoft International Ltd		801
	1,645,832		Cielo S.A.		16,452
	160,158	*,e	Cimpress NV		16,205
	350,871	*	Citrix Systems, Inc		29,901
	1,452,915	*	Cognizant Technology Solutions Corp (Class A)		69,319
	84,000	e	COLOPL, Inc		1,311
	9,060	*	Com2uSCorp		827
	78,669	*	CommerceHub, Inc		1,252
	52,490	*	CommerceHub, Inc (Series A)		829

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	189,036	*	Commvault Systems, Inc	$	10,043
	149,388		Computer Modelling Group Ltd		1,117
	583,096		Computer Sciences Corp		30,443
	675,062		Computershare Ltd		5,354
	134,936	*	comScore, Inc		4,137
	26,354		Constellation Software, Inc		11,880
	207,375		Convergys Corp		6,308
	40,200	*,e	COOKPAD, Inc		386
	195,681	*	Cornerstone OnDemand, Inc		8,992
	70,137	*	CoStar Group, Inc		15,187
	58,200	*,e	CROOZ, Inc		1,317
	73,360		CSG Systems International, Inc		3,032
	712,839		CSRA, Inc		19,175
	88,869	*	Cvent, Inc		2,818
	249,250	*	CyberArk Software Ltd		12,355
	82,567		Cyberlink Corp		178
	106,679		Cyient Ltd		756
	26,054		Daou Technology, Inc		517
	193,297		Dassault Systemes S.A.		16,780
	73,641	*,e	Datalink Corp		781
	501,400		Datasonic Group BHD		188
	1,315,023	*	Dell Technologies, Inc-VMware Inc		62,858
	252,300		Dena Co Ltd		9,174
	83,473	*	Descartes Systems Group, Inc		1,796
	4,179	*	Devsisters Co Ltd		108
	87,698		DH Corp		1,896
	326,367	*	DHI Group, Inc		2,575
	20,380	*,e	Digimarc Corp		782
	30,800	e	Digital Garage, Inc		593
	56,800	e	Dip Corp		1,768
	7,852	*	DoubleUGames Co Ltd		260
	154,694		DST Systems, Inc		18,242
	56,300		DTS Corp		1,254
	18,279		DuzonBIzon Co Ltd		362
	736,647		EarthLink Holdings Corp		4,567
	3,613,667	*	eBay, Inc		118,890
	58,450	e	Ebix, Inc		3,323
	30,270		eClerx Services Ltd		684
	70,267		Econocom Group		1,055
	1,266,155	*	Electronic Arts, Inc		108,130
	104,439	*	Ellie Mae, Inc		10,997
	91,915		Ementor ASA		931
	135,406	*,e	Endurance International Group Holdings, Inc		1,185
	68,647	*,e	EnerNOC, Inc		371
	15,925		Enghouse Systems Ltd		638
	96,498	*	Envestnet, Inc		3,517
	109,882		EOH Holdings Ltd		1,343
	140,198	*	EPAM Systems, Inc		9,717
	11,525		EPIQ Systems, Inc		190
	182,192	g	Equiniti Group plc		471
	126,247	*	Euronet Worldwide, Inc		10,331
	488,807		EVERTEC, Inc		8,202

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	87,440	*	Everyday Health, Inc	$	672
	37,341	*,e	EXA Corp		599
	133,531	*	ExlService Holdings, Inc		6,655
	40,400	e	F@N Communications, Inc		298
	8,056,827	*	Facebook, Inc		1,033,449
	106,933		Fair Isaac Corp		13,323
	278,400	*	Fang Holdings Ltd (ADR)		1,250
	421,500	e,g	Feiyu Technology International Co Ltd		74
	1,500	*,e	FFRI, Inc		53
	839,254		Fidelity National Information Services, Inc		64,648
	361,074	*,e	FireEye, Inc		5,319
	391,457	*	First American Corp		15,353
	870,263	*	First Data Corp		11,453
	574,246	*	Fiserv, Inc		57,120
	202,696	*	Five9, Inc		3,178
	330,931	*	FleetCor Technologies, Inc		57,493
	105,384	*	FleetMatics Group plc		6,321
	15,612		Formula Systems 1985 Ltd		607
	23,622		Forrester Research, Inc		919
	475,179	*	Fortinet, Inc		17,548
	75,856		F-Secure Oyj		287
	84,000	e	FUJI SOFT, Inc		2,355
	60,000	*	Fujitsu Broad Solution & Consulting, Inc		480
	5,908,592		Fujitsu Ltd		31,798
	74,000		Future Architect, Inc		552
	13,489	*	GameHi Co Ltd		98
	4,588	*	Gamevil, Inc		261
	198,421	*	Gartner, Inc		17,550
	626,587	*	Genpact Ltd		15,007
	13,718		GFT Technologies AG.		283
	197,678	*	Gigamon, Inc		10,833
	622,818		Global Payments, Inc		47,808
	17,287	*	Global Sources Ltd		147
	65,185	*,e	Globant S.A.		2,746
	219,127	*,e	Glu Mobile, Inc		491
	87,700	e	GMO internet, Inc		1,179
	32,300	e	GMO Payment Gateway, Inc		1,688
	100,858	*,e	GoDaddy, Inc		3,483
	131,647	*,e	Gogo, Inc		1,453
	2,910		Golfzon co Ltd		181
	25,000		Gourmet Navigator, Inc		688
	81,250	*	Gravity Co Ltd (ADR)		442
	88,100	e	Gree, Inc		495
	626,934	*,e	GrubHub, Inc		26,952
	15,553	*	G-treeBNT Co Ltd		251
	63,244	*	GTT Communications, Inc		1,488
	59,819	*	Guidance Software, Inc		357
	259,525	*	Guidewire Software, Inc		15,566
	1,142,814	e	GungHo Online Entertainment Inc		2,808
	15,909		Haansoft, Inc		250
	194,182		Hackett Group, Inc		3,208
	340,195		Hansen Technologies Ltd		1,221

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	480,000	*,e	HC International, Inc	$	359
	846,086		HCL Technologies Ltd		10,179
	90,387		Hexaware Technologies Ltd		257
	1,707,000	*,e	Hi Sun Technology China Ltd		301
	97,179	*,e	Hortonworks, Inc		811
	67,897	*	HubSpot, Inc		3,912
	813,196		IAC/InterActiveCorp		50,800
	4,123,000	e	IGG, Inc		2,763
	108,563	*	Imperva, Inc		5,831
	134,974	*,e	inContact, Inc		1,887
	88,051	*,e	Indra Sistemas S.A.		1,181
	4,063		Industrial & Financial Systems		188
	598,900		Ines Corp		6,857
	101,795		Info Edge India Ltd		1,301
	266,499	*	Infoblox, Inc		7,028
	19,300	*	Infocom Corp		281
	841,400	e	Infomart Corp		9,799
	76,237	*,e	Information Services Group, Inc		304
	11,400		Information Services International-Dentsu Ltd		214
	2,717,197		Infosys Technologies Ltd		42,258
	42,925	*,e	Instructure, Inc		1,089
	41,644	*	Interactive Intelligence, Inc		2,504
	1,977,529	e	International Business Machines Corp		314,130
	50,000		International Games System Co Ltd		335
	24,500		Internet Initiative Japan, Inc		460
	104,037	*	InterXion Holding NV		3,768
	381,775	*	Intralinks Holdings, Inc		3,841
	1,267,876		Intuit, Inc		139,479
	104,396		iomart Group plc		376
	359,466		Iress Market Technology Ltd		3,263
	169,699	e	iSentia Group Ltd		500
	122,900	e	Istyle, Inc		1,005
	175,360		IT Holdings Corp		4,552
	146,800		Itochu Techno-Science Corp		3,777
	110,662	e	j2 Global, Inc		7,371
	141,954		Jack Henry & Associates, Inc		12,144
	6,277	*	JCEntertainment Corp		148
	2,100	*,e	JIG-SAW, Inc		138
	133,468	*,e	Jive Software, Inc		569
	34,249		Just Dial Ltd		223
	983,397	*	Just Eat plc		6,818
	31,600		Justsystems Corp		280
	46,102		Kainos Group plc		104
	95,420		Kakaku.com, Inc		1,728
	29,695	e	Kakao Corp		2,215
	29,400		Kanematsu Electronics Ltd		558
	8,863		KCP Co Ltd		153
	13,674		Kginicis Co Ltd		168
	10,204		KGMobilians Co Ltd		94
	285,979	*	Kinaxis, Inc		14,568
	1,792,000	e	Kingdee International Software Group Co Ltd		715
	968,061	e	Kingsoft Corp Ltd		2,313

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	100,000	*,e	KLab, Inc	$	625
	203,368	e	Konami Corp		7,858
	21,400	*,e	KongZhong Corp (ADR)		144
	11,919	*	Korea Information & Communications Co Ltd		128
	9,452		Korea Information Certificate Authority, Inc		72
	360,732		KPIT Cummins Infosystems Ltd		674
	13,649	*	KT Hitel Co Ltd		98
	502,312		Leidos Holdings, Inc		21,740
	282,572	*,e	Limelight Networks, Inc		528
	192,984		Link Administration Holdings Ltd		1,224
	265,975	*	LinkedIn Corp		50,833
	92,767		Linx S.A.		553
	138,723	*	Lionbridge Technologies		694
	130,783	*,e	Liquidity Services, Inc		1,470
	241,322	*	Liveperson, Inc		2,030
	77,516	e	LogMeIn, Inc		7,007
	11,338	*,e	Majesco		58
	374,397	*	Manhattan Associates, Inc		21,573
	58,716		Mantech International Corp (Class A)		2,213
	96,916		Marchex, Inc (Class B)		268
	93,000	e	Marvelous AQL, Inc		726
	3,792,110		MasterCard, Inc (Class A)		385,923
	54,668	*,e	Match Group, Inc		973
	81,617		Matrix IT Ltd		589
	162,623		MAXIMUS, Inc		9,198
	157,232	*,e	MeetMe, Inc		975
	445,331		Mentor Graphics Corp		11,775
	398,322		Micro Focus International plc		11,338
	23,988,745		Microsoft Corp		1,381,752
	191,987	*	MicroStrategy, Inc (Class A)		32,146
	30,714	*,e	MINDBODY, Inc		604
	174,690		MindTree Ltd		1,268
	73,517	*,e	Mitek Systems, Inc		609
	4,900		Mitsubishi Research Institute, Inc		154
	172,030	e	Mixi Inc		6,233
	104,690	*,e	MobileIron, Inc		288
	480,593	*,e	Mobileye NV		20,459
	54,683	*	Model N, Inc		608
	31,200	*	Momo, Inc (ADR)		702
	89,421	*	MoneyGram International, Inc		635
	1,479,514		Moneysupermarket.com Group plc		5,754
	186,039		Monotype Imaging Holdings, Inc		4,113
	212,413	*	Monster Worldwide, Inc		767
	3,100	*,e	Morpho, Inc		142
	122,889		Mphasis Ltd		962
	122,100		MTI Ltd		754
	5,745,400		My EG Services BHD		3,176
	209,011		MYOB Ltd		600
	69,570	*,e	Myriad Group AG.		202
	852,000	*,e	National Agricultural Holdings Ltd		153
	43,441		Naver Corp		34,973
	13,980	e	NCI, Inc (Class A)		162

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	48,872		NCsoft	$	13,183
	19,400		NEC Networks & System Integration Corp		330
	56,938		Nemetschek AG.		3,492
	12,996	*	Neowiz Games Corp		142
	260,300		NET One Systems Co Ltd		1,814
	162,000		NetDragon Websoft, Inc		567
	181,000		Netease.com (ADR)		43,581
	146,451		NetEnt AB		1,341
	46,219	*	NetSuite, Inc		5,116
	123,651	*,e	NeuStar, Inc (Class A)		3,288
	51,010	*,e	New Relic, Inc		1,955
	29,680,000	*	New Sports Group Ltd		470
	163,764		Nexon Co Ltd		2,572
	224,117	*,e	NEXTDC Ltd		727
	12,843	*	NHN Entertainment Corp		699
	285,572		NIC, Inc		6,711
	5,361		Nice Information & Telecommunication, Inc		176
	66,644		Nice Systems Ltd		4,438
	265,100		Nihon Unisys Ltd		3,408
	56,041		NIIT Technologies Ltd		354
	161,319		Nintendo Co Ltd		43,194
	34,500		Nippon System Development Co Ltd		554
	120,240		Nomura Research Institute Ltd		4,150
	71,400	*,e	NQ Mobile, Inc (ADR)		273
	69,600		NS Solutions Corp		1,216
	144,251		NTT Data Corp		7,205
	707,265	*	Nuance Communications, Inc		10,255
	32,330	*	Numerex Corp		252
	139,941	*	Nutanix, Inc		5,178
	8,400	e	OBIC Business Consultants Ltd		406
	61,600		Obic Co Ltd		3,280
	307,902		Open Text Corp		19,944
	98,206		Opera Software ASA		682
	669,640	*	Optimal Payments plc		3,868
	15,161,969		Oracle Corp		595,562
	103,949		Oracle Corp Japan		5,873
	26,995		Otsuka Corp		1,282
	291,000	e	Ourgame International Holdings Ltd		150
	413,700		Pacific Online		106
	754,246	*,e	Pandora Media, Inc		10,808
	30,978	*,e	Park City Group, Inc		366
	764,465		Paychex, Inc		44,240
	102,031	*,e	Paycom Software, Inc		5,115
	49,543	*,e	Paylocity Holding Corp		2,203
	5,473,292	*	PayPal Holdings, Inc		224,241
	85,938		PC Home Online		1,017
	263,000	e	PCA Corp		2,980
	5,240,000	*	Peace Map Holding Ltd		106
	192,843		Pegasystems, Inc		5,687
	90,230	*	Perficient, Inc		1,818
	61,084		Persistent Systems Ltd		588
	60,078	*	PFSweb, Inc		536

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	20,100	*	Phoenix New Media Ltd (ADR)	$	78
	107,994	*	Planet Payment, Inc		401
	397,274		Playtech Ltd		4,689
	116,867		Polaris Software Lab Ltd		281
	49,931		POSDATA Co Ltd		260
	218,633	*	Progress Software Corp		5,947
	139,217	*,e	Proofpoint, Inc		10,420
	84,186	*	PROS Holdings, Inc		1,903
	346,078	*	PTC, Inc		15,335
	59,615	*	Q2 Holdings, Inc		1,709
	32,573		QAD, Inc (Class A)		729
	145,088	*	Qualys, Inc		5,541
	95,379	*	QuinStreet, Inc		288
	146,296	*,e	Quotient Technology, Inc		1,947
	253,671	*	Rackspace Hosting, Inc		8,039
	46,998	*,e	Rapid7, Inc		830
	57,236	*,e	RealNetworks, Inc		255
	227,199	*	RealPage, Inc		5,839
	447,963	*	Red Hat, Inc		36,209
	136,550	e	Redcentric plc		315
	34,444		Reis, Inc		705
	76,400	*,e	RENREN,Inc (ADR)		157
	2,450,000	*,e	Rentian Technology Holdings Ltd		178
	9,404		Reply S.p.A.		1,236
	180,354	*	RetailMeNot, Inc		1,784
	64,716	e	RIB Software AG.		797
	247,924		Rightmove plc		13,565
	24,886	*	Rightside Group Ltd		226
	217,769	*	RingCentral, Inc		5,152
	233,299		Rolta India Ltd		214
	69,074	*,e	Rosetta Stone, Inc		586
	215,781	*	Rubicon Project, Inc		1,787
	427,900		Sabre Corp		12,058
	112,566		SafeCharge International Group Ltd		321
	1,851,129		Sage Group plc		17,687
	37,486		Saipens International Corp NV		487
	2,968,307	*,n	Salesforce.com, Inc		211,729
	829,300		Samart Corp PCL		331
	35,069		Samsung SDS Co Ltd		4,934
	1,034,437		SAP AG.		94,602
	57,553	e	Sapiens International Corp NV		735
	7,790		SBSi Co Ltd		71
	136,615		Science Applications International Corp		9,477
	467,125	*,g	Scout24 AG.		15,734
	11,218	*	SecureWorks Corp		140
	1,686,409	*	ServiceNow, Inc		133,479
	169,746	*,e	ServiceSource International LLC		828
	216,260		Shanghai Baosight Software Co Ltd		402
	86,951	*	Shopify, Inc		3,731
	70,327	*,e	Shutterstock, Inc		4,480
	88,390	*	Silver Spring Networks, Inc		1,253
	2,439,700		Silverlake Axis Ltd		1,184

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	42,564		SimCorp AS	$	2,470
	96,798	*	Sina Corp		7,147
	6,440,000	*	Sino-I Technology Ltd		90
	525,600	e	Sinosoft Technology Group Ltd		256
	80,800	e	SMS Co Ltd		2,161
	218,318		Softcat plc		906
	47,961		Software AG.		2,033
	101,540		Soft-World International Corp		217
	49,730	*,e	Sohu.com, Inc		2,201
	447,272		Sonda S.A.		866
	213,084	e,g	Sophos Group plc		735
	11,766	e	Sopra Group S.A.		1,381
	222,082	*	Splunk, Inc		13,032
	46,757	*	SPS Commerce, Inc		3,432
	162,727		Square Enix Co Ltd		5,611
	316,254	*,e	Square, Inc		3,688
	351,604		SS&C Technologies Holdings, Inc		11,304
	72,021	*,e	Stamps.com, Inc		6,807
	137,750	*,e	Starbreeze AB		373
	109,342		Sumisho Computer Systems Corp		4,425
	4,385	*	SundayToz Corp		140
	1,276,000		SUNeVision Holdings Ltd		621
	162,104	*	Sykes Enterprises, Inc		4,560
	6,731,455		Symantec Corp		168,960
	98,369	*	Synchronoss Technologies, Inc		4,051
	341,956	*	Synopsys, Inc		20,295
	134,679	*,e	Syntel, Inc		5,644
	14,200	*	Systena Corp		272
	175,000		Systex Corp		296
	72,284	*	Tableau Software, Inc		3,995
	561,019	*,e	Take-Two Interactive Software, Inc		25,291
	72,168	*	Tangoe, Inc		595
	667,528		Tata Consultancy Services Ltd		24,395
	7,449		Tata Elxsi Ltd		156
	393,601		Tech Mahindra Ltd		2,488
	186,875		Technology One Ltd		855
	50,020	*	TechTarget, Inc		403
	55,500		Tecmo Koei Holdings Co Ltd		1,100
	109,218	*	TeleNav, Inc		626
	66,807		TeleTech Holdings, Inc		1,937
	52,755		Temenos Group AG.		3,327
	11,052,004		Tencent Holdings Ltd		307,268
	519,663	*	Teradata Corp		16,110
	387,000	e,g	Tian GE Interactive Holdings Ltd		275
	45,474		Tietoenator Oyj		1,435
	275,186	*	TiVo Corp		5,361
	14,700	e	TKC		458
	639,760		Total System Services, Inc		30,165
	123,133		Totvus S.A.		1,150
	26,900		Trans Cosmos, Inc/Japan		712
	665,256		Travelport Worldwide Ltd		9,999

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,072,000		Travelsky Technology Ltd	$	2,559
	111,103		Trend Micro, Inc		3,876
	127,272	*,e	TrueCar, Inc		1,201
	50,622	*,e	TubeMogul, Inc		474
	2,741	*	Twilio, Inc		176
	1,510,993	*,e	Twitter, Inc		34,828
	67,258	*	Tyler Technologies, Inc		11,517
	73,135	*	Ubisoft Entertainment		2,763
	86,165	*	Ultimate Software Group, Inc		17,611
	316,002	*,e	Unisys Corp		3,078
	27,380		United Internet AG.		1,213
	9,700	e	UNITED, Inc		150
	3,110,000	e	V1 Group Ltd		162
	1,656,524		Vakrangee Ltd		5,962
	389,488	*	Vantiv, Inc		21,916
	35,630	*	Varonis Systems, Inc		1,072
	73,114	*	Vasco Data Security International		1,288
	182,992	*	Verint Systems, Inc		6,886
	293,804	*,e	VeriSign, Inc		22,987
	120,114	*,e	VirnetX Holding Corp		368
	90,580	*	Virtusa Corp		2,236
	7,958,330		Visa, Inc (Class A)		658,154
	557,660	*,e	VMware, Inc (Class A)		40,904
	86,335	*,e	WebMD Health Corp (Class A)		4,291
	106,978	*	Website Pros, Inc		1,848
	14,879	*	Webzen, Inc		233
	9,680	*	Weibo Corp (ADR)		485
	8,510	*	WeMade Entertainment Co Ltd		151
	1,269,421	e	Western Union Co		26,429
	123,919	*	WEX, Inc		13,394
	972,220		Wipro Ltd		6,999
	356,922	e	Wirecard AG.		18,541
	72,739	*	Wix.com Ltd		3,159
	148,803	*	Workday, Inc		13,644
	64,263	*,e	Workiva, Inc		1,165
	36,892	*,g	Worldline S.A.		1,116
	6,719,563	*,g	Worldpay Group plc		25,764
	54,743	*	Xactly Corp		806
	77,501	*	Xero Ltd		1,094
	4,068,884		Xerox Corp		41,218
	2,259		XING AG.		475
	119,112	*	XO Group, Inc		2,302
	88,942		XPEC Entertainment, Inc		96
	25,900	*	Xunlei Ltd (ADR)		140
	5,442,200		Xurpas, Inc		1,641
	1,429,748		Yahoo! Japan Corp		5,703
	2,169,359	*	Yahoo!, Inc		93,499
	341,535	*,e	Yelp, Inc		14,242
	37,700	*,e	YY, Inc (ADR)		2,009
	190,260	*	Zendesk, Inc		5,843
	11,179		Zensar Technologies Ltd		167
	104,964	*,e	Zillow Group, Inc		3,616

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	219,444	*,e	Zillow Group, Inc (Class C)	$	7,604
	254,435	*	Zix Corp		1,043
	547,475	g	Zoopla Property Group plc		2,308
	2,055,569	*	Zynga, Inc		5,982
			TOTAL SOFTWARE & SERVICES		11,734,373
TECHNOLOGY HARDWARE & EQUIPMENT - 4.5%
	307,435	*,e	3D Systems Corp		5,518
	856,422	e	AAC Technologies Holdings, Inc		8,653
	153,092	*	accesso Technology Group plc		2,915
	2,602,292		Accton Technology Corp		4,067
	2,809,762		Acer, Inc		1,310
	107,492		Adlink Technology, Inc		219
	112,164		Adtran, Inc		2,147
	36,411	*,e	ADVA AG. Optical Networking		367
	40,000		Advanced Ceramic X Corp		281
	332,583		Advantech Co Ltd		2,863
	54,246	*,e	Aerohive Networks, Inc		330
	39,361	*	Agilysys, Inc		438
	30,200	e	Ai Holdings Corp		728
	284,400		Alpha Networks, Inc		176
	595,000		Alps Electric Co Ltd		14,362
	124,400		Amano Corp		1,989
	618,538		Amphenol Corp (Class A)		40,155
	980,037	*	Anixter International, Inc		63,212
	113,900		Anritsu Corp		651
	2,796,000	*,e,m	Anxin-China Holdings Ltd		4
	18,968,884	n	Apple, Inc		2,144,432
	34,333	*,e	Applied Optoelectronics, Inc		763
	149,165	*,e	Arista Networks, Inc		12,691
	732,265	*	ARRIS International plc		20,745
	257,031	*	Arrow Electronics, Inc		16,442
	28,819		Ascom Holding AG.		519
	203,000	*	Asia Optical Co, Inc		198
	1,778,464		Asia Vital Components Co Ltd		1,391
	725,044		Asustek Computer, Inc		6,481
	188,000		Aten International Co Ltd		481
	29,000,893		AU Optronics Corp		10,646
	259,000		Aurora Corp		422
	39,199	e	Austria Technologie & Systemtechnik AG.		482
	64,863	*	Avid Technology, Inc		515
	27,660	*,e	Avigilon Corp		183
	265,226		Avnet, Inc		10,890
	124,662		AVX Corp		1,719
	66,322		Badger Meter, Inc		2,222
	32,228		Barco NV		2,529
	42,448		Bel Fuse, Inc (Class B)		1,025
	105,986		Belden CDT, Inc		7,312
	193,124	*	Benchmark Electronics, Inc		4,818
	4,528,000		Benq Corp		1,928
	164,000		BenQ Materials Corp		74
	44,173		Black Box Corp		614

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	397,394	*	Blackberry Ltd (New)	$	3,168
	850,000		Boardtek Electronics Corp		964
	1,365,394		Brocade Communications Systems, Inc		12,603
	774,277		Brother Industries Ltd		13,613
	4,236,000		BYD Electronic International Co Ltd		3,555
	86,148	*	CalAmp Corp		1,202
	7,061,915		CalComp Electronics Thailand PCL		526
	97,391	*	Calix, Inc		716
	16,500	*	Canon Electronics, Inc		262
	850,782		Canon, Inc		24,700
	274,000		Career Technology Co Ltd		180
	667,000		Casetek Holdings Ltd		2,442
	672,857		Catcher Technology Co Ltd		5,506
	288,000		Catic Shenzhen Holdings Ltd		163
	344,209		CDW Corp		15,741
	266,170	*	Celestica, Inc		2,879
	54,000		Chaun-Choung Technology Corp		288
	377,602		Cheng Uei Precision Industry Co Ltd		472
	729,162		Chicony Electronics Co Ltd		1,849
	280,663		Chimei Materials Technology Corp		123
	5,834,000	e	China Aerospace International Holdings Ltd		773
	1,500,000	e	China All Access Holdings Ltd		531
	489,600	*	China Fiber Optic Network System Group Ltd		39
	2,928,000	*	China Healthcare Enterprise Group Ltd		53
	3,092,000	*	China Innovationpay Group Ltd		246
	1,434,000		Chin-Poon Industrial Co		3,206
	301,840		Chroma ATE, Inc		813
	4,005,864	*,n	Ciena Corp		87,328
	19,103,478		Cisco Systems, Inc		605,962
	422,754		Citizen Watch Co Ltd		2,214
	29,968	*,e	Clearfield, Inc		563
	441,393		Clevo Co		414
	1,550,394	*	CMC Magnetics Corp		195
	225,360		Cognex Corp		11,913
	101,825	*	Coherent, Inc		11,256
	3,063,736	e	Comba Telecom Systems Holdings Ltd		610
	725	e	Comet Holding AG.		664
	378,570	*	CommScope Holding Co, Inc		11,399
	6,849,688		Compal Electronics, Inc		4,241
	5,811,000		Compeq Manufacturing Co		2,983
	78,781		Comtech Telecommunications Corp		1,009
	50,252	*,e	Control4 Corp		617
	3,003,399	*	Coolpad Group Ltd		569
	1,635,000		Coretronic Corp		1,785
	2,168,410		Corning, Inc		51,283
	305,000		Coxon Precise Industrial Co Ltd		340
	55,668		CPI Card Group, Inc		336
	556,424	*	Cray, Inc		13,098
	20,124	*	CrucialTec Co Ltd		175
	72,413		CTS Corp		1,347
	158,475		Daeduck Electronics Co		1,112
	88,675		Daeduck GDS Co Ltd		978

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	790,000		Daiwabo Co Ltd	$	1,867
	82,816		Daktronics, Inc		790
	33,357		Datalogic S.p.A.		712
	185,663		DataTec Ltd		656
	323,300		Delta Electronics Thai PCL		741
	2,023,988		Delta Electronics, Inc		10,842
	39,000	e	Denki Kogyo Co Ltd		196
	128,800	e	Dexerials Corp		1,067
	157,901		Diebold, Inc		3,914
	110,267	*	Digi International, Inc		1,257
	4,425,000	*,e	Digital China Holdings Ltd		4,273
	13,790		Digital Multimedia Technologies S.p.A.		726
	583,421		D-Link Corp		210
	163,360		Dolby Laboratories, Inc (Class A)		8,869
	41,557		DTS, Inc		1,768
	413,000		Dynapack International Technology Corp		556
	282,500		Eastern Communications Co Ltd		216
	41,760	*,e	Eastman Kodak Co		626
	132,167	*	EchoStar Corp (Class A)		5,793
	54,000	*	Egis Technology, Inc		397
	42,871		Eizo Nanao Corp		1,163
	68,700		Elecom Co Ltd		1,495
	59,751		Electro Scientific Industries, Inc		337
	683,288		Electrocomponents plc		3,007
	226,046	*	Electronics for Imaging, Inc		11,058
	6,000		Elematec Corp		117
	356,654		Elite Material Co Ltd		977
	1,332,324		Elitegroup Computer Systems Co Ltd		558
	132,981		EMCORE Corp		758
	37,822		Ennoconn Corp		633
	6,800		Enplas Corp		207
	14,871	*	ePlus, Inc		1,404
	5,956,571		Ericsson (LM) (B Shares)		43,008
	79,676		Esprinet S.p.A.		443
	60,342		Evertz Technologies Ltd		771
	26,367		EVS Broadcast Equipment S.A.		1,060
	771,822	*	Extreme Networks, Inc		3,465
	289,214	*	F5 Networks, Inc		36,048
	116,867	*	Fabrinet		5,211
	44,995	*	FARO Technologies, Inc		1,618
	848,122	*,e	Fingerprint Cards AB		9,950
	1,625,892	*	Finisar Corp		48,452
	179,546		Firich Enterprises Co Ltd		435
	535,069	*,e,n	Fitbit, Inc		7,940
	1,196,884		FLEXium Interconnect, Inc		3,589
	1,209,925	*	Flextronics International Ltd		16,479
	386,058		Flir Systems, Inc		12,130
	102,310		Flytech Technology Co Ltd		355
	901,813		Foxconn Technology Co Ltd		2,659
	870,981		Fujifilm Holdings Corp		32,264
	32,800	*	Fujitsu Frontech Ltd		325
	13,310,000	*,e	GCL New Energy Holdings Ltd		769

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	62,999		Gemalto NV	$	4,036
	1,055,000		General Interface Solution Holding Ltd		2,792
	58,909	*	Genius Electronic Optical Co Ltd		99
	1,577,000		Getac Technology Corp		1,840
	1,437,000		Gigabyte Technology Co Ltd		1,913
	884,000	e	Goldpac Group Ltd		277
	5,710	*	Green Cross Cell Corp		159
	769,135		Halma plc		10,442
	17,700	e	Hamamatsu Photonics KK		545
	2,239,330	*	HannStar Display Corp		504
	182,367	*,e	Harmonic, Inc		1,081
	242,607		Harris Corp		22,225
	5,813,436		Hewlett Packard Enterprise Co		132,256
	171,308		Hexagon AB (B Shares)		7,481
	671,799		High Tech Computer Corp		1,879
	25,000		Hirose Electric Co Ltd		3,287
	1,058,432		Hitachi High-Technologies Corp		42,370
	48,600		Hitachi Kokusai Electric, Inc		896
	11,421,098		Hitachi Ltd		53,526
	330,100		Hitachi Maxell Ltd		5,090
	443,100		Holystone Enterprise Co Ltd		451
	29,145,987		Hon Hai Precision Industry Co, Ltd		73,759
	29,695		Horiba Ltd		1,463
	50,400	e	Hosiden Corp		365
	4,381,362		HP, Inc		68,043
	28,520		Humax Co Ltd		376
	294,400		Ibiden Co Ltd		3,959
	8,100		Icom, Inc		161
	200,476		ICP Electronics, Inc		292
	315,389	*,e	IDEX ASA		303
	227,795	*	II-VI, Inc		5,542
	14,742	*	Iljin Materials Co Ltd		215
	68,373	*,e	Immersion Corp		558
	613,840		Inari Amertron BHD		493
	1,387		Inficon Holding AG.		531
	321,924	*	Infinera Corp		2,907
	40,345		Ingenico		3,528
	609,920		Ingram Micro, Inc (Class A)		21,750
	26,962,219		InnoLux Display Corp		9,163
	216,259	*	Insight Enterprises, Inc		7,039
	3,661,900		Integrated Micro-Electronics, Inc		461
	107,721		InterDigital, Inc		8,532
	190,275	*,e	InvenSense, Inc		1,412
	7,212,535		Inventec Co Ltd		5,921
	75,606	*	IPG Photonics Corp		6,226
	7,300	e	Iriso Electronics Co Ltd		391
	48,400		ITC Networks Corp		671
	739,357		ITEQ Corp		742
	78,690	*	Itron, Inc		4,388
	27,421		Ituran Location and Control Ltd		726
	273,158	*	Ixia		3,414
	617,976		Jabil Circuit, Inc		13,484

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	151,493	e	Japan Aviation Electronics Industry Ltd	$	2,377
	11,900	e	Japan Cash Machine Co Ltd		182
	14,100		Japan Digital Laboratory Co Ltd		207
	1,675,300	*,e	Japan Display, Inc		2,624
	24,107		Japan Radio Co Ltd		344
	1,671,400		JCY International BHD		215
	126,854		Jenoptik AG.		2,321
	2,913,125		Ju Teng International Holdings Ltd		871
	835,790		Juniper Networks, Inc		20,109
	44,300		Kaga Electronics Co Ltd		548
	9,905		Kapsch TrafficCom AG.		442
	246,900		KCE Electronics PCL		758
	27,903		Keyence Corp		20,444
	428,763	*	Keysight Technologies, Inc		13,587
	13,639		KH Vatec Co Ltd		154
	69,503	*	Kimball Electronics, Inc		963
	977,500		Kingboard Chemical Holdings Ltd		2,975
	861,500		Kingboard Laminates Holdings Ltd		791
	19,411		Kingpak Technology, Inc		104
	202,905	*,e	Knowles Corp		2,851
	63,200		Koa Corp		542
	11,018		KONA I Co Ltd		154
	551,909		Konica Minolta Holdings, Inc		4,674
	145,592		Kudelski S.A.		2,714
	39,727	*,e	KVH Industries, Inc		350
	289,810		Kyocera Corp		13,926
	222,581		Laird Group plc		915
	203,892		Largan Precision Co Ltd		24,850
	7,726,753		Lenovo Group Ltd		5,157
	246,994		Lexmark International, Inc (Class A)		9,870
	14,830		LG Innotek Co Ltd		1,060
	235,533		LG.Philips LCD Co Ltd		6,021
	5,441,295		Lite-On Technology Corp		7,867
	78,809		Littelfuse, Inc		10,151
	516,264	e	Logitech International S.A.		11,588
	58,000		Lotes Co Ltd		155
	1,223,195	*	Lumentum Holdings, Inc		51,093
	95,000		Macnica Fuji Electronics Holdings, Inc		1,088
	123,300		Marubun Corp		714
	56,300		Maruwa Co Ltd		2,128
	80,150	*,e	Maxwell Technologies, Inc		414
	35,400		Melco Holdings, Inc		862
	146,076		Merry Electronics Co Ltd		576
	7,136	e	Mesa Laboratories, Inc		816
	170,093		Methode Electronics, Inc		5,948
	243,040	e	Micronic Laser Systems AB		3,036
	2,729,000		Micro-Star International Co Ltd		7,115
	793,000		MIN AIK Technology Co Ltd		997
	2,183,082		Mitac Holdings Corp		2,255
	63,100	e	Mitsumi Electric Co Ltd		355
	483,033		Motorola, Inc		36,846
	53,145		MTS Systems Corp		2,446

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	340,500		Murata Manufacturing Co Ltd	$	44,447
	592,000		Nan Ya Printed Circuit Board Corp		486
	196,000		Nanjing Panda Electronics		207
	54,000		Nanjing Sample Technology Co Ltd		99
	248,502		National Instruments Corp		7,057
	278,810	*	NCR Corp		8,975
	6,301,382		NEC Corp		16,253
	112,324		Neopost S.A.		3,036
	589,108		NetApp, Inc		21,102
	187,411	*	Netgear, Inc		11,336
	207,983	*	Netscout Systems, Inc		6,083
	40,626		Nichicon Corp		323
	185,214	*,e	Nimble Storage, Inc		1,635
	19,300	e	Nippon Ceramic Co Ltd		360
	1,844,150		Nippon Electric Glass Co Ltd		9,549
	40,500		Nippon Signal Co Ltd		342
	18,500	e	Nohmi Bosai Ltd		275
	827,760	e	Nokia Corp		4,793
	13,346,302		Nokia Oyj (Turquoise)		77,360
	109,875	*	Novanta, Inc		1,906
	2,358,821	*	Oclaro, Inc		20,168
	64,400		Oki Electric Industry Co Ltd		867
	567,356		Omron Corp		20,422
	11,000	*,e	Optex Co Ltd		262
	63,346	*	Orbotech Ltd		1,876
	48,907	*	OSI Systems, Inc		3,198
	61,690		Oxford Instruments plc		507
	191,969	*,e	Palo Alto Networks, Inc		30,586
	352,224		Pan-International Industrial		330
	104,980		Park Electrochemical Corp		1,823
	14,543	*,e	Parrot S.A.		156
	275,801		Partron Co Ltd		2,283
	2,349,000	e	PAX Global Technology Ltd		1,736
	57,498		PC Connection, Inc		1,519
	2,031,917		Pegatron Technology Corp		5,259
	125,112		Plantronics, Inc		6,501
	104,307	*	Plexus Corp		4,879
	40,567		Posiflex Technology, Inc		249
	981,875		Premier Farnell plc		2,356
	2,124,000		Primax Electronics Ltd		3,126
	753,000		Prime View International Co Ltd		582
	155,105	*,e	Pure Storage, Inc		2,102
	2,717,338		Quanta Computer, Inc		5,695
	90,313	*	Radisys Corp		483
	57,072	*,e	Radware Ltd		784
	521,930		Redington India Ltd		811
	80,000		Renishaw plc		2,739
	601,511	e	Ricoh Co Ltd		5,443
	9,879		RICOH INDIA Ltd		45
	62,500		Riso Kagaku Corp		1,024
	1,664,062	*	Ritek Corp		339
	62,678	*	Rofin-Sinar Technologies, Inc		2,017

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	54,721	*	Rogers Corp	$	3,342
	7,000	*	Roland DG Corp		157
	76,600		Ryosan Co Ltd		2,329
	15,900	e	Ryoyo Electro Corp		195
	9,569		Sam Young Electronics Co Ltd		102
	55,511		Samsung Electro-Mechanics Co Ltd		2,478
	57,955		Samsung SDI Co Ltd		5,091
	676,236		Sandvine Corp		1,505
	354,194	*	Sanmina Corp		10,084
	110,688	*	Scansource, Inc		4,040
	4,777	e	Seagate Technology, Inc		184
	144,000		Seiko Epson Corp		2,773
	120,000		Senao Networks, Inc		558
	394,000		Sercomm Corp		940
	9,193		SFA Engineering Corp		452
	118,300	*	Shanghai Potevio Co Ltd		182
	84,876		Shimadzu Corp		1,295
	437,814	*	ShoreTel, Inc		3,503
	25,734	*,e	Sierra Wireless, Inc		371
	77,100	e	Siix Corp		3,126
	12,193	e	Silicom Ltd		505
	71,324	*	Silicon Graphics International Corp		549
	282,404		Simplo Technology Co Ltd		933
	1,148,087		Sinbon Electronics Co Ltd		2,651
	4,332		Sindoh Co Ltd		198
	32,000		SMK Corp		106
	120,388	*	Sonus Networks, Inc		937
	111,717		Spectris plc		2,845
	2,248		Spigen Korea Co Ltd		109
	769,986		Spirent Communications plc		818
	40,494	*	Sterlite Power Transmission Ltd		68
	101,236		Sterlite Technologies Ltd		122
	157,397	*,e	Stratasys Ltd		3,792
	11,070,000	*	Suncorp Technologies Ltd		112
	869,000		Sunny Optical Technology Group Co Ltd		4,318
	87,567	*	Super Micro Computer, Inc		2,046
	280,086		SVA Electron Co Ltd		237
	118,727	*	Synaptics, Inc		6,955
	79,098		SYNNEX Corp		9,026
	1,384,238		Synnex Technology International Corp		1,536
	47,138		Systemax, Inc		373
	179,491		Taiflex Scientific Co Ltd		186
	850,577		Taiwan PCB Techvest Co Ltd		915
	228,003		Taiyo Yuden Co Ltd		2,255
	91,690		TDK Corp		6,143
	204,626		TE Connectivity Ltd		13,174
	156,265	*	Tech Data Corp		13,237
	440,000		Technovator International Ltd		180
	238,494	e	Telit Communications plc		835
	139,495		Test Research, Inc		183
	465,291	*,e	Thin Film Electronics ASA		223
	46,667	*	Tobii AB		391

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	128,625		Tong Hsing Electronic Industries Ltd	$	488
	16,580,000	e	Tongda Group Holdings Ltd		4,067
	92,500	e	Topcon Corp		1,321
	640,000	*,e	Topsearch International Holdings Ltd		209
	274,000	e	Toshiba TEC Corp		1,108
	17,400	e	Toyo Corp/Chuo-ku		175
	263,000		TPK Holding Co Ltd		432
	1,940,000		Tpv Technology Ltd		347
	131,608		Transcend Information, Inc		385
	604,000		Trigiant Group Ltd		88
	716,182	*	Trimble Navigation Ltd		20,454
	1,248,832		Tripod Technology Corp		2,787
	7,522,000		Truly International Holdings		3,076
	22,800		TSC Auto ID Technology Co Ltd		175
	481,546	*	TTM Technologies, Inc		5,514
	674,039		TXC Corp		931
	61,585	*,e	Ubiquiti Networks, Inc		3,295
	1,218,883		Unimicron Technology Corp		518
	439,937		Unitech Printed Circuit Board Corp		142
	260,627	*,e	Universal Display Corp		14,467
	92,197	*,e	USA Technologies, Inc		517
	687,895		Venture Corp Ltd		4,554
	250,523	*	VeriFone Systems, Inc		3,943
	102,652	*,e	Viasat, Inc		7,663
	543,141	*	Viavi Solutions, Inc		4,014
	314,253	e	Vishay Intertechnology, Inc		4,428
	57,367	*,e	Vishay Precision Group, Inc		920
	3,431,500		VS Industry Bhd		1,147
	1,590,800	e	VST Holdings Ltd		466
	134,300	e	Vtech Holdings Ltd		1,536
	124,700	e	Wacom Co Ltd		378
	1,299,000		Wah Lee Industrial Corp		1,886
	2,186,140		Walsin Technology Corp		2,679
	3,548,000	e	Wasion Group Holdings Ltd		1,948
	1,040,050		Western Digital Corp		60,812
	18,833		Wincor Nixdorf AG.		1,408
	190,500	*,b,m	Wintek Corp		0	^
	8,323,495		Wistron Corp		6,208
	231,520		Wistron NeWeb Corp		733
	1,356,732		WPG Holdings Co Ltd		1,610
	1,580,848		WT Microelectronics Co Ltd		2,174
	149,194		Xaar plc		967
	15,750	*,m	Ya Hsin Industrial Co Ltd		0
	340,993		Yageo Corp		710
	59,593		Yamatake Corp		1,801
	560,000	e,g	Yangtze Optical Fibre and Cable Joint Stock Ltd		953
	58,238		Yaskawa Electric Corp		871
	60,584		Yokogawa Electric Corp		807
	127,320	*	Zebra Technologies Corp (Class A)		8,863
	408,405		Zhen Ding Technology Holding Ltd		902
	277,000		Zinwell Corp		300
	816,538	e	ZTE Corp		1,196
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,083,415

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
TELECOMMUNICATION SERVICES - 2.8%
	9,242		012 Smile.Communications Ltd	$	217
	245,687	*	8x8, Inc		3,791
	100,000		Advanced Info Service PCL (ADR)		463
	2,601,689		Advanced Info Service PCL (Foreign)		12,057
	476,230		AFK Sistema (GDR)		3,534
	39,811,876		America Movil S.A. de C.V. (Series L)		22,729
	335,750		APT Satellite Holdings Ltd		233
	1,577,836	*	Asia Pacific Telecom Co Ltd		526
	15,309,262	e	AT&T, Inc		621,709
	37,355		ATN International, Inc		2,430
	717,600	*,e	Axtel SAB de C.V.		165
	1,069,560		BCE, Inc		49,396
	242,109		Belgacom S.A.		7,243
	11,647,170		Bezeq Israeli Telecommunication Corp Ltd		21,976
	1,720,572		Bharti Airtel Ltd		8,130
	887,411		Bharti Infratel Ltd		4,883
	123,802	*	Boingo Wireless, Inc		1,273
	9,365,827		BT Group plc		47,122
	131,790	*	Cellcom Israel Ltd		987
	123,877	g	Cellnex Telecom SAU		2,242
	1,647,181		CenturyTel, Inc		45,182
	5,739,371		China Communications Services Corp Ltd		3,602
	9,804,399	e	China Mobile Hong Kong Ltd		120,441
	17,834,457		China Telecom Corp Ltd		9,098
	7,101,681		China Unicom Ltd		8,653
	569,497		Chorus Ltd		1,622
	6,758,988		Chunghwa Telecom Co Ltd		23,837
	712,622	*	Cincinnati Bell, Inc		2,907
	4,341,000	e	Citic 1616 Holdings Ltd		1,624
	98,024		Cogent Communications Group, Inc		3,608
	330,769		Com Hem Holding AB		3,052
	116,719		Consolidated Communications Holdings, Inc		2,946
	7,227,449		Deutsche Telekom AG.		121,425
	3,611,539		Digi.Com BHD		4,349
	35,948	e	Drillisch AG.		1,747
	168,817		Elisa Oyj (Series A)		6,221
	2,961,094		Emirates Telecommunications Group Co PJSC		16,115
	158,994		Empresa Nacional de Telecomunicaciones S.A.		1,555
	81,451	*,e,g	Euskaltel S.A.		810
	52,035	*,e	Fairpoint Communications, Inc		782
	1,685,236		Far EasTone Telecommunications Co Ltd		3,985
	2,183,901		France Telecom S.A.		34,216
	152,263		Freenet AG.		4,457
	3,596,130	e	Frontier Communications Corp		14,960
	86,403	*	General Communication, Inc (Class A)		1,188
	1,764,225	*,e	Globalstar, Inc		2,135
	87,936		Globe Telecom, Inc		3,713
	34,589	*	Hawaiian Telcom Holdco, Inc		774
	381,885		Hellenic Telecommunications Organization S.A.		3,351

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	305,763	*	Himachal Futuristic Communications	$	68
	1,289,500		HKBN Ltd		1,456
	2,237,127		HKT Trust and HKT Ltd		3,150
	2,986,651	e	Hutchison Telecommunications Hong Kong Holdings Ltd		1,016
	1,596,637		Idea Cellular Ltd		1,901
	125,042		IDT Corp (Class B)		2,156
	25,385		Iliad S.A.		5,329
	221,928	g	Infrastrutture Wireless Italiane S.p.A		1,092
	187,164		Inmarsat plc		1,706
	129,650		Inteliquent, Inc		2,093
	189,610	*,e	Iridium Communications, Inc		1,538
	73,500	*	Japan Communications, Inc		130
	3,120,800		Jasmine International PCL		650
	1,137,157		Kcom Group plc		1,709
	1,381,000		KDDI Corp		42,786
	21,504		KT Corp		624
	248,674	*,e,m	Let’s GOWEX S.A.		3
	1,734,791	*,n	Level 3 Communications, Inc		80,460
	220,380		LG Telecom Ltd		2,357
	46,477	*	Lumos Networks Corp		651
	1,275,072		Magyar Telekom		2,093
	68,933		Manitoba Telecom Services, Inc		1,981
	1,824,590		Maxis BHD		2,721
	117,461		MegaFon OAO (GDR)		1,120
	69,889	e	Millicom International Cellular S.A.		3,621
	883,418		Mobile TeleSystems (ADR)		6,740
	307,009	e	MobileOne Ltd		541
	95,826	*	Mobistar S.A.		2,345
	1,903,824		MTN Group Ltd		16,321
	504,317		Netia S.A.		643
	127,314	*,e	NII Holdings, Inc		424
	1,686,960		Nippon Telegraph & Telephone Corp		77,155
	2,571,488		NTT DoCoMo, Inc		65,323
	23,309		Numericable-SFR SAS		687
	173,330		Ooredoo QSC		4,570
	7,072,802	*	Orascom Telecom Holding SAE		3,337
	2,379,939	*	Orascom Telecom Media And Technology Holding SAE		145
	147,428	*	Orbcomm, Inc		1,511
	266,759	*	Partner Communications		1,224
	8,596,276		PCCW Ltd		5,295
	25,252	*	pdvWireless, Inc		578
	196,117		PLDT, Inc		6,937
	3,920,711	*	PT Excelcomindo Pratama		813
	959,500		PT Link Net Tbk		321
	114,011,324		PT Telekomunikasi Indonesia Persero Tbk		37,964
	806,950	*	Reliance Communication Ventures Ltd		564
	943,183		Rogers Communications, Inc (Class B)		40,015
	161,534		Rostelecom (ADR)		1,213
	1,763,632		Royal KPN NV		5,851
	273,485	*	SBA Communications Corp (Class A)		30,674
	128,280	*	Sejong Telecom, Inc		124
	122,941		Shenandoah Telecom Co		3,345

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	16,656,716		Singapore Telecommunications Ltd	$	48,719
	20,306		SK Telecom Co Ltd		4,164
	1,165,535		SmarTone Telecommunications Holding Ltd		1,931
	1,229,855		Softbank Corp		79,705
	45,809	e	Spok Holdings, Inc		816
	1,782,196	*,e	Sprint Corp		11,816
	936,824	e	StarHub Ltd		2,366
	22,208	*,e	Straight Path Communications, Inc		569
	112,217	g	Sunrise Communications Group AG.		7,833
	10,690		Swisscom AG.		5,085
	1,737,942		Taiwan Mobile Co Ltd		6,249
	612,773	e	TalkTalk Telecom Group plc		1,604
	111,020		Tata Communications Ltd		945
	275,451	*	TDC AS		1,622
	162,076	e	Tele2 AB		1,399
	3,379,268		Telecom Corp of New Zealand Ltd		8,891
	10,704,152		Telecom Italia RSP		7,266
	6,113,960	*	Telecom Italia S.p.A.		5,080
	1,009,699		Telefonica Brasil S.A.		14,577
	569,810	e	Telefonica Deutschland Holding AG.		2,297
	162,835		Telefonica O2 Czech Republic AS		1,582
	3,908,229		Telefonica S.A.		39,524
	1,268,183		Telekom Malaysia BHD		2,081
	741,018		Telekomunikacja Polska S.A.		1,162
	1,088,709		Telenor ASA		18,721
	976,974		Telephone & Data Systems, Inc		26,554
	1,416,401	*,e	Telesites SAB de C.V.		797
	2,065,536		TeliaSonera AB		9,252
	281,883		Telkom S.A. Ltd		1,243
	8,075,973		Telstra Corp Ltd		32,200
	274,404		TELUS Corp		9,054
	318,700		Thaicom PCL		191
	1,887,584		Tim Participacoes S.A.		4,585
	442,120		Time dotCom BHD		863
	2,908,915		TM International BHD		3,672
	3,944,005	*	T-Mobile US, Inc		184,264
	2,569,783		Tower Bersama Infrastructure		1,203
	333,010		TPG Telecom Ltd		2,210
	11,818,016		True Corp PCL		2,380
	472,866		Turk Telekomunikasyon AS		894
	2,534,966		Turkcell Iletisim Hizmet AS		8,196
	29,238	*	US Cellular Corp		1,062
	14,147,884		Verizon Communications, Inc		735,407
	662,311	e	Vocus Communications Ltd		3,176
	402,555		Vodacom Group Pty Ltd		4,523
	50,420,199		Vodafone Group plc		144,601
	396,423	e	Vodafone Group plc (ADR)		11,556
	406,995		Vodafone Qatar		1,217
	1,488,737	*	Vonage Holdings Corp		9,841
	275,309	e	Windstream Holdings, Inc		2,767
	345,819	*	Zayo Group Holdings, Inc		10,274
			TOTAL TELECOMMUNICATION SERVICES		3,224,518

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
TRANSPORTATION - 2.2%
	753,712		Abertis Infraestructuras S.A. (Continuous)	$	11,742
	84,844		Aegean Airlines S.A.		577
	225,510	g	Aena S.A.		33,287
	28,414		Aeroports de Paris		2,819
	6,806,862		Air Arabia PJSC		2,518
	194,308	*	Air Canada		1,570
	2,049,225		Air China Ltd		1,385
	804,874	*,e	Air France-KLM		4,331
	2,823,761		Air New Zealand Ltd		3,830
	234,643	*	Air Transport Services Group, Inc		3,367
	13,311,258		AirAsia BHD		8,995
	2,009,625	*	AirAsia X BHD		190
	1,249,500		Airports of Thailand PCL (Foreign)		14,410
	11,463	*	AJ Rent A Car Co Ltd		102
	726,654		Alaska Air Group, Inc		47,857
	809,567		All Nippon Airways Co Ltd		2,199
	47,452		Allcargo Logistics Ltd		129
	30,906		Allegiant Travel Co		4,082
	28,735		Amerco, Inc		9,317
	1,413,186	e	American Airlines Group, Inc		51,737
	634,771	*,b,m	AMR Corp (Escrow)		6
	1,212,000	e	Anhui Expressway Co		1,013
	150,509		Ansaldo STS S.p.A.		1,758
	6,580		AP Moller - Maersk AS (Class A)		9,245
	6,235		AP Moller - Maersk AS (Class B)		9,171
	140,375		Arkansas Best Corp		2,670
	98,394	*	Asiana Airlines		433
	75,048	*	Atlas Air Worldwide Holdings, Inc		3,214
	1,226,722		Auckland International Airport Ltd		6,575
	57,271		Autostrada Torino-Milano S.p.A.		626
	692,277		Autostrade S.p.A.		17,582
	928,295		Avianca Holdings S.A.		763
	268,711	*	Avis Budget Group, Inc		9,193
	648,200		Bangkok Airways Co Ltd		463
	135,150		Bangkok Aviation Fuel Services PCL		144
	6,686,453		Bangkok Expressway & Metro PCL		1,335
	845,799		BBA Aviation plc		2,738
	1,708,097		Beijing Capital International Airport Co Ltd		1,947
	7,955		Blue Dart Express Ltd		656
	773,901		Bollore		2,694
	264,275		bpost S.A.		7,166
	5,962,727		BTS Group Holdings PCL (Foreign)		1,492
	1,089,532		Canadian National Railway Co		71,221
	246,556		Canadian Pacific Railway Ltd (Toronto)		37,622
	993,928	e	Cathay Pacific Airways Ltd		1,389
	727,420		Cebu Air, Inc		1,697
	228,720	e	Celadon Group, Inc		1,999
	166,272		Central Japan Railway Co		28,467
	313,918		CH Robinson Worldwide, Inc		22,119
	2,025,335		China Airlines		605

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	3,026,421	*,e	China COSCO Holdings Co Ltd	$	1,037
	1,393,093	e	China Merchants Holdings International Co Ltd		3,737
	4,438,135	*,e	China Shipping Container Lines Co Ltd		957
	1,947,500		China Southern Airlines Co Ltd		1,099
	350,000		Chu Kong Shipping Development		99
	995,099		Cia de Concessoes Rodoviarias		5,183
	32,644		Cia de Distribucion Integral Logista Holdings SAU		729
	1,697,670		ComfortDelgro Corp Ltd		3,512
	9,817,334	*	Compania SudAmericana de Vapores S.A.		162
	110,370		Container Corp Of India Ltd		2,292
	1,151,100	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		2,004
	137,406		Copa Holdings S.A. (Class A)		12,082
	1,040,000	e	Cosco International Holdings Ltd		470
	4,504,068		COSCO Pacific Ltd		4,634
	219,377		Costamare, Inc		2,005
	28,208	*	Covenant Transportation Group, Inc		545
	2,631,454		CSX Corp		80,259
	120,409		CTT-Correios de Portugal S.A.		811
	540,400		CWT Ltd		793
	22,923	*,e	D/S Norden		329
	743,569		Dart Group plc		4,038
	664,875		Dazhong Transportation Group Co Ltd		499
	1,957,265		Delta Air Lines, Inc		77,038
	338,720	e	Deutsche Lufthansa AG.		3,776
	678,454		Deutsche Post AG.		21,241
	116,098		Dfds A.S.		5,883
	494,936		DP World Ltd		9,369
	524,874		DSV AS		26,189
	515,969		East Japan Railway Co		46,573
	1,914,787	e	easyJet plc		24,967
	66,291	*	Echo Global Logistics, Inc		1,529
	809,700		EcoRodovias Infraestrutura e Logistica S.A.		2,213
	85,600	*,e	eHi Car Services Ltd (ADR)		877
	1,693,699		El Al Israel Airlines		1,559
	62,501	*,e,g	Europcar Groupe S.A.		544
	1,365,584		Eva Airways Corp		624
	462,000		Evergreen International Storage & Transport Corp		191
	1,492,055		Evergreen Marine Corp Tawain Ltd		578
	271,021		Expeditors International of Washington, Inc		13,963
	538,365		FedEx Corp		94,042
	1,287,851	*	Firstgroup plc		1,763
	48,981		Flughafen Zuerich AG.		9,575
	96,981		Forward Air Corp		4,195
	38,887		Fraport AG. Frankfurt Airport Services Worldwide		2,128
	289,481		Freightways Ltd		1,386
	118,000	e	Fukuyama Transporting Co Ltd		687
	115,781		Gateway Distriparks Ltd		439
	138,716	*	Genesee & Wyoming, Inc (Class A)		9,564
	58,722		GLOVIS Co Ltd		9,698
	116,912		Go-Ahead Group plc		3,080
	29,132	*	Golden Ocean Group Ltd		119
	431,941	e	Grindrod Ltd		363

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	420,713		Groupe Eurotunnel S.A.	$	4,557
	735,700	*,e	Grupo Aeromexico SAB de C.V.		1,348
	202,900	e	Grupo Aeroportuario del Centro Norte Sab de C.V.		1,196
	399,631		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		3,795
	369,710		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		5,420
	972,572		Guangdong Provincial Expressway Development Co Ltd		619
	663,000		Guangdong Yueyun Transportation Co Ltd		412
	203,025		Gujarat Pipavav Port Ltd		532
	90,000		Hainan Meilan International Airport Co Ltd		101
	22,919		Hamburger Hafen und Logistik AG.		349
	44,033		Hanjin Kal Corp		750
	6,953		Hanjin Transportation Co Ltd		175
	387,700		Hankyu Hanshin Holdings, Inc		13,367
	227,042	*	Hawaiian Holdings, Inc		11,034
	108,927	e	Heartland Express, Inc		2,057
	484,317	*	Hertz Global Holdings, Inc		19,450
	105,900		Hitachi Transport System Ltd		2,116
	2,610,739	e	Hopewell Highway Infrastructure Ltd		1,595
	256,934	*	Hub Group, Inc (Class A)		10,473
	5,162,853		Hutchison Port Holdings Trust		2,305
	1,939	*	ID Logistics Group		290
	77,057	e	Iino Kaiun Kaisha Ltd		279
	841,330		International Consolidated Airlines Group S.A.		4,365
	565,317		International Container Term Services, Inc		900
	457,521		Irish Continental Group plc		2,246
	93,735		J.B. Hunt Transport Services, Inc		7,606
	314,631		Japan Airlines Co Ltd		9,249
	30,200	e	Japan Airport Terminal Co Ltd		1,155
	8,240		Jeju Air Co Ltd		243
	220,402	*	Jet Airways India Ltd		1,581
	1,152,312	*	JetBlue Airways Corp		19,866
	1,543,834		Jiangsu Express		2,142
	204,710		Jinzhou Port Co Ltd		109
	62,200		Julio Simoes Logistica S.A.		205
	572,587		Kamigumi Co Ltd		4,995
	911,000		Kansas City Southern Industries, Inc		85,015
	1,355,400	e	Kawasaki Kisen Kaisha Ltd		3,493
	367,338		Keihin Electric Express Railway Co Ltd		3,833
	429,586		Keio Corp		3,757
	21,161		Keisei Electric Railway Co Ltd		529
	838,547		Kerry Logistics Network Ltd		1,155
	1,259,179		Kintetsu Corp		5,285
	29,700		Kintetsu World Express, Inc		385
	136,678	*	Kirby Corp		8,496
	157,527	e	Knight Transportation, Inc		4,519
	60,600	e	Konoike Transport Co Ltd		826
	7,578	*	Korea Express Co Ltd		1,485
	13,558	*	Korea Line Corp		260
	29,045	*	Korean Air Lines Co Ltd		925
	66,703		Kuehne & Nagel International AG.		9,694
	291,968	*	Lan Airlines S.A.		2,347
	130,208		Landstar System, Inc		8,865

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	171,902		Localiza Rent A Car	$	2,096
	3,818	e	Logistec Corp		105
	423,801		Macquarie Atlas Roads Group		1,626
	176,000		Macquarie Infrastructure Co LLC		14,650
	746,806		Malaysia Airports Holdings BHD		1,181
	54,520		Marten Transport Ltd		1,145
	97,000		Maruzen Showa Unyu Co Ltd		370
	219,513		Matson, Inc		8,754
	2,966,756		MISC BHD		5,416
	19,349	e	Mitsubishi Logistics Corp		280
	686,812		Mitsui OSK Lines Ltd		1,597
	257,610		Mitsui-Soko Co Ltd		819
	1,918,632	e	MTR Corp		10,602
	1,249,375		Mundra Port and Special Economic Zone Ltd		4,832
	636,055	e	Nagoya Railroad Co Ltd		3,461
	241,100		Namyong Terminal PCL		88
	643,000	e	Nankai Electric Railway Co Ltd		3,090
	989,650		National Express Group plc		4,419
	30,629	*,g	Navkar Corp Ltd		86
	520,261		Nippon Express Co Ltd		2,432
	47,800		Nippon Konpo Unyu Soko Co Ltd		1,041
	1,294,084		Nippon Yusen Kabushiki Kaisha		2,423
	261,000		Nishi-Nippon Railroad Co Ltd		1,254
	60,000		Nissin Corp		189
	276,554	g	Nobina AB		1,757
	753,970		Norfolk Southern Corp		73,180
	238,725		Northgate plc		1,337
	23,352	*,e	Norwegian Air Shuttle AS		857
	47,019		Odakyu Electric Railway Co Ltd		1,047
	28,362		Oesterreichische Post AG.		1,005
	2,566,053	*,e	OHL Mexico SAB de CV		3,404
	168,175	*	Old Dominion Freight Line		11,538
	239,500	e	Orient Overseas International Ltd		850
	2,836,290		Pacific Basin Shipping Ltd		368
	8,026	*	PAM Transportation Services, Inc		161
	8,743	e	Panalpina Welttransport Holding AG.		1,218
	20,673		Park-Ohio Holdings Corp		754
	43,832	*	Pegasus Hava Tasimaciligi AS.		175
	7,222		Piraeus Port Authority		101
	57,369		PKP Cargo S.A.		570
	743,600		Pos Malaysia & Services Holdings BHD		693
	511,950	*	Precious Shipping PCL		89
	275,892		Promotora y Operadora de Infraestructura SAB de C.V.		2,960
	12,753,500	*,m	PT Berlian Laju Tanker Tbk		0	^
	4,504,200	*	PT Garuda Indonesia Tbk		148
	2,132,026		PT Jasa Marga Tbk		753
	4,840,738		Qantas Airways Ltd		11,627
	811,000	e,g	Qingdao Port International Co Ltd		482
	701,500		Qinhuangdao Port Co Ltd		172
	2,027,102		QR National Ltd		7,329
	773,093	e	Qube Logistics Holdings Ltd		1,386
	153,850	*	Radiant Logistics, Inc		437

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	750,809		Redde plc	$	1,946
	120,243	*	Roadrunner Transportation Services Holdings, Inc		960
	1,135,985	e	Royal Mail plc		7,209
	915,000	*	Rumo Logistica Operadora Multimodal S.A.		1,778
	3,088	*	Ryanair Holdings plc		42
	307,766		Ryanair Holdings plc (ADR)		23,092
	77,499		Ryder System, Inc		5,111
	416,000	e	Sagami Railway Co Ltd		2,127
	56,919	*	Saia, Inc		1,705
	96	*,m	SAir Group		0
	9,200		Sakai Moving Service Co Ltd		234
	672,000		Sankyu, Inc		3,859
	522,500		Santos Brasil Participacoes S.A.		450
	405,743	*,e	SAS AB		809
	80,000	*,e	Scorpio Bulkers, Inc		277
	102,579	e	Seaspan Corp		1,367
	8,671		Sebang Co Ltd		127
	593,700		Seino Holdings Corp		6,244
	94,100		Senko Co Ltd		656
	145,800		Shandong Airlines Co Ltd		333
	151,600		Shanghai Jinjiang International Investment Holdings Co		243
	71,200		Shenzhen Chiwan Petroleum		285
	121,900		Shenzhen Chiwan Wharf Holdings Ltd		193
	2,332,000		Shenzhen Expressway Co Ltd		2,462
	1,389,781	e	Shenzhen International Holdings Ltd		2,320
	62,000		Shinwa Kaiun Kaisha Ltd		86
	90,819	*	Shipping Corp of India Ltd		93
	1,335,097		Shun TAK Holdings Ltd		433
	3,014,000	e	Sichuan Expressway Co Ltd		1,153
	292,000		Sincere Navigation		171
	191,949		Singapore Airlines Ltd		1,483
	2,186,000		Singapore Airport Terminal Services Ltd		7,991
	1,241,119	e	Singapore Post Ltd		1,332
	7,607,000		Sinotrans Ltd		3,717
	3,491,000	e	Sinotrans Shipping Ltd		530
	1,638,000	e	SITC International Co Ltd		979
	14,678	e	Sixt AG.		828
	36,891		Sixt AG. (Preference)		1,589
	284,391		Skywest, Inc		7,511
	624,900	e	SMRT Corp Ltd		771
	76,939		Societa Iniziative Autostradali e Servizi S.p.A.		735
	2,214,323		Southwest Airlines Co		86,115
	159,990	*	SpiceJet Ltd		141
	248,040	*	Spirit Airlines, Inc		10,549
	734,344		Stagecoach Group plc		2,007
	69,207		Stolt-Nielsen S.A.		899
	72,379	e	Student Transportation, Inc		433
	317,767		Sumitomo Warehouse Co Ltd		1,693
	292,997	*,e	Swift Transportation Co, Inc		6,291
	1,401,054		Sydney Airport		7,510
	291,000		T.Join Transportation Co		392
	168,795		TAV Havalimanlari Holding AS		696

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,995,900	*	Thai Airways International PCL-Foreign	$	1,363
	690,935		Thoresen Thai Agencies PCL		181
	5,244,000		Tianjin Port Development Holdings Ltd		796
	346,058	*	TNT NV		1,570
	707,033		Tobu Railway Co Ltd		3,602
	1,298,935		Tokyu Corp		9,909
	18,800		Trancom Co Ltd		1,181
	648,105	e	TransForce, Inc		13,422
	1,660,617		Transurban Group (ASE)		14,513
	57,323	*,e	Treasure ASA		127
	593,106	*	Turk Hava Yollari		1,016
	389,000		U-Ming Marine Transport Corp		279
	3,944,250		Union Pacific Corp		384,683
	998,182	*	United Continental Holdings, Inc		52,375
	2,630,722		United Parcel Service, Inc (Class B)		287,696
	20,707		Universal Truckload Services, Inc		278
	37,468	*	USA Truck, Inc		384
	45,144	*,e	Virgin America, Inc		2,416
	60,603	*	Virgin Australia Holdings Ltd		11
	67,336	*,m	Virgin Australia Int Holdings		0	^
	21,075		VRL Logistics Ltd		95
	26,843	e	VTG AG.		762
	103,788		Werner Enterprises, Inc		2,415
	128,363	*	Wesco Aircraft Holdings, Inc		1,724
	154,687		West Japan Railway Co		9,596
	117,942		WestJet Airlines Ltd		2,060
	753,700		Westports Holdings BHD		801
	168,165	e	Westshore Terminals Investment Corp		3,057
	36,060		Wilh. Wilhelmsen ASA		108
	239,494		Wisdom Marine Lines Co Ltd		239
	42,900	*,g	Wizz Air Holdings plc		911
	2,724,000		Xiamen International Port Co Ltd		553
	266,519	*,e	XPO Logistics, Inc		9,773
	258,966		Yamato Transport Co Ltd		6,036
	1,300,000	*	Yang Ming Marine Transport		295
	147,640	*,e	YRC Worldwide, Inc		1,819
	1,418,000	e	Yuexiu Transport Infrastructure Ltd		975
	14,700		Yusen Air & Sea Service Co Ltd		143
	4,150,194		Zhejiang Expressway Co Ltd		4,397
			TOTAL TRANSPORTATION		2,457,499
UTILITIES - 3.1%
	1,278,063		A2A S.p.A.		1,805
	3,446,810		Aboitiz Power Corp		3,252
	79,299	e	Acciona S.A.		5,994
	124,780		ACEA S.p.A.		1,569
	102,596	e	Actelios S.p.A.		91
	786,892	*	Adani Power Ltd		295
	169,028	*	Adani Transmissions Ltd		97
	1,865,129		AES Corp		23,967
	2,007,925		AES Gener S.A.		662
	237,279	*	AES Tiete S.A.		1,168

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	348,364	*,m	AET&D Holdings No 1 Ptd Ltd	$	0
	555,717		AGL Energy Ltd		8,136
	3,251,432		Aguas Andinas S.A.		2,089
	275,162	*	Akenerji Elektrik Uretim AS		87
	170,379	*	Aksa Enerji Uretim AS		152
	243,063	e	Algonquin Power & Utilities Corp		2,177
	188,559		Allete, Inc		11,242
	338,510	e	Alliant Energy Corp		12,968
	213,910		Alupar Investimento S.A.		1,064
	711,138		Ameren Corp		34,974
	2,161,868		American Electric Power Co, Inc		138,814
	116,048		American States Water Co		4,648
	574,886		American Water Works Co, Inc		43,024
	880,631		APA Group		5,769
	245,164		Aqua America, Inc		7,473
	19,341		Artesian Resources Corp		552
	215,677		Ascopiave S.p.A.		652
	99,036		Atco Ltd		3,519
	141,835		Athens Water Supply & Sewage Co S.A.		857
	296,767		Atlantic Power Corp		733
	140,788		Atlantic Power Corp (Toronto)		348
	179,162	e	Atlantica Yield plc		3,406
	138,110		Atmos Energy Corp		10,285
	1,181,072		AusNet Services		1,489
	134,909		Avangrid, Inc		5,636
	195,279		Avista Corp		8,161
	238,896		Aygaz AS		855
	7,568,191	e	Beijing Enterprises Water Group Ltd		5,159
	17,638,900		Benpres Holdings Corp		3,017
	51,314	e	BKW S.A.		2,459
	120,089	e	Black Hills Corp		7,352
	41,856		Boralex, Inc		597
	110,576		California Water Service Group		3,548
	633,920	*	Calpine Corp		8,013
	88,670		Canadian Utilities Ltd		2,502
	594,000	e	Canvest Environment Protection Group Co Ltd		271
	179,284	e	Capital Power Corp		2,818
	39,476	e	Capital Stage AG.		293
	1,345,207		Centerpoint Energy, Inc		31,249
	229,579		Centrais Eletricas Brasileiras S.A. (Preference)		1,685
	9,578,798		Centrica plc		28,322
	107,830		CESC Ltd		991
	310,089		CEZ AS		5,540
	4,000,000	e	CGN New Energy Holdings Co Ltd		621
	11,791,000	g	CGN Power Co Ltd		3,513
	161,865	*,m	Chennai Super Kings Cricket Ltd		5
	77,156		Chesapeake Utilities Corp		4,711
	600,344		Cheung Kong Infrastructure Holdings Ltd		5,178
	2,278,000	*,e	China Datang Corp Renewable Power Co Ltd		225
	509,500		China Everbright Water Ltd		225
	2,154,308	e	China Gas Holdings Ltd		3,428
	3,864,627		China Longyuan Power Group Corp		3,167

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	4,428,000	*,e	China Oil and Gas Group Ltd	$	328
	11,228,796	e	China Power International Development Ltd		4,351
	404,000		China Power New Energy Development Co Ltd		256
	985,580	e	China Resources Gas Group Ltd		3,385
	5,844,983		China Resources Power Holdings Co		10,161
	804,000		China Water Affairs Group Ltd		519
	1,148,000	*,e	China Water Industry Group Ltd		196
	1,374,839		Chubu Electric Power Co, Inc		20,005
	198,052	e	Chugoku Electric Power Co, Inc		2,490
	590,300		Cia de Saneamento Basico do Estado de Sao Paulo		5,480
	63,880		Cia de Saneamento de Minas Gerais-COPASA		642
	1,663,733		Cia Energetica de Minas Gerais		4,389
	443,449		Cia Energetica de Sao Paulo (Class B)		2,004
	11,804		Cia Energetica do Ceara		176
	312,860		Cia Paranaense de Energia		3,235
	2,073,100		CK Power PCL		196
	3,858,859		CLP Holdings Ltd		39,966
	1,978,136		CMS Energy Corp		83,101
	16,194,369		Colbun S.A.		3,227
	23,902		Connecticut Water Service, Inc		1,189
	408,725	e	Consolidated Edison, Inc		30,777
	35,807		Consolidated Water Co, Inc		416
	1,283,704		Contact Energy Ltd		4,712
	222,046		CPFL Energia S.A.		1,652
	2,242,000	e	CT Environmental Group Ltd		654
	16,399	e	Delta Natural Gas Co, Inc		391
	1,553,707		Dominion Resources, Inc		115,394
	786,909	*,g	DONG Energy A.S.		32,731
	1,036,875	e	Drax Group plc		4,103
	976,969		DTE Energy Co		91,513
	3,109,137		DUET Group (ASE Exchange)		5,986
	1,977,645		Duke Energy Corp		158,291
	2,935,511	*,e	Dynegy, Inc		36,371
	1,403,492	*	E.CL SA		2,210
	1,929,145		E.ON AG.		13,711
	2,672		E1 Corp		153
	493,600		Eastern Water Resources Development and Management PCL		167
	1,005,229		Edison International		72,628
	1,590,305		EDP - Energias do Brasil S.A.		7,032
	168,052		El Paso Electric Co		7,860
	261,900		Electric Power Development Co		6,295
	686,984		Electricite de France		8,362
	15,200		Electricity Generating PCL		87
	93,500		Eletropaulo Metropolitana de Sao Paulo S.A.		305
	24,741		Elia System Operator S.A.		1,264
	99,625		Empire District Electric Co		3,401
	3,971,361		Empresa Nacional de Electricidad S.A.		2,633
	39,603		Enagas		1,191
	1,060,012		Endesa Americas S.A.		479
	661,501		Endesa S.A.		14,182
	184,443		Enea S.A.		411

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	10,258,786		Enel S.p.A.	$	45,721
	604,372		Energa S.A.		1,186
	4,268,721		Energias de Portugal S.A.		14,326
	1		Energix-Renewable Energies Ltd		0	^
	1,427,294	*,e	Energy World Corp Ltd		246
	33,318,963		Enersis Chile S.A.		3,075
	39,879,790		Enersis S.A.		6,517
	182,141		Engie Brasil Energia S.A.		2,156
	921,228	e	ENN Energy Holdings Ltd		4,510
	541,363		Entergy Corp		41,539
	218,700		Equatorial Energia S.A.		3,384
	40,000	e	eRex Co Ltd		1,194
	42,322	e	ERG S.p.A.		486
	124,888		ERM Power Ltd		111
	368,943		Eversource Energy		19,989
	65,953		EVN AG.		782
	2,637,108		Exelon Corp		87,789
	795,016	m	Federal Grid Co Unified Energy System JSC (ADR)		1,130
	3,343,900		First Gen Corp		1,728
	641,050		First Philippine Holdings Corp		963
	1,216,694		FirstEnergy Corp		40,248
	511,950		Fortis, Inc		16,463
	139,183		Fortum Oyj		2,249
	508,663		GAIL India Ltd		2,869
	698,000		Gas Malaysia BHD		434
	133,384		Gas Natural SDG S.A.		2,742
	2,179,409		Gaz de France		33,791
	1,086,437		Genesis Energy Ltd		1,654
	99,212	e	Genie Energy Ltd		585
	2,336,200		Global Power Synergy Co Ltd (Foreign)		2,467
	19,171	e	Global Water Resources, Inc		154
	539,471		Glow Energy PCL (Foreign)		1,246
	280,358		Great Plains Energy, Inc		7,651
	3,135,066		Guangdong Investments Ltd		5,008
	66,991		Gujarat Gas Co Ltd		579
	145,523		Gujarat State Petronet Ltd		342
	169,113		Hawaiian Electric Industries, Inc		5,048
	1,227,132		Hera S.p.A.		3,305
	3,953,000	e,g	HK Electric Investments & HK Electric Investments Ltd		3,876
	189,300	*,e	Hokkaido Electric Power Co, Inc		1,616
	118,942	e	Hokuriku Electric Power Co		1,449
	7,098,252	e	Hong Kong & China Gas Ltd		13,478
	1,390,319	e	Hong Kong Electric Holdings Ltd		13,605
	467,930	*	Huadian Energy Co Ltd		239
	6,516,388	e	Huadian Power International Co		2,941
	6,893,756		Huaneng Power International, Inc		4,348
	9,934,000		Huaneng Renewables Corp Ltd		3,493
	124,589	e,g	Hydro One Ltd		2,460
	461,700	e	Hyflux Ltd		161
	9,510,065		Iberdrola S.A.		64,663
	164,853		Idacorp, Inc		12,905
	71,572	*	Indiabulls Infrastructure and Power Ltd		4

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	54,451		Indraprastha Gas Ltd	$	637
	661,000	e	Infraestructura Energetica ,NV SAB de C.V.		2,584
	2,216,821		Infratil Ltd		5,233
	108,703	e	Innergex Renewable Energy, Inc		1,213
	1,027,900		Inter Far East Energy Corp		139
	416,768		Interconexion Electrica S.A.		1,409
	993,363		Inversiones Aguas Metropolitanas S.A.		1,777
	1,752,243		Iride S.p.A.		3,013
	237,706		ITC Holdings Corp		11,049
	377,673	e	Just Energy Income Fund		1,914
	11,500		K&O Energy Group, Inc		165
	700,000	e,g	Kangda International Environmental Co Ltd		156
	997,515	*	Kansai Electric Power Co, Inc		9,075
	9,435	*	Kenon Holdings Ltd		108
	2,700,000	*,m	Kong Sun Holdings Ltd		136
	16,973		Korea District Heating Corp		1,012
	461,572		Korea Electric Power Corp		22,611
	26,781		Korea Gas Corp		1,081
	2,128		KyungDong City Gas Co Ltd		147
	340,577		Kyushu Electric Power Co, Inc		3,197
	80,000		Light S.A.		391
	1,865,400		Manila Water Co, Inc		1,126
	682,501		MDU Resources Group, Inc		17,363
	1,524,412	*	Meridian Energy Ltd		2,890
	85,162		MGE Energy, Inc		4,812
	61,570		Middlesex Water Co		2,170
	453,163		Mighty River Power Ltd		1,005
	139,278		National Fuel Gas Co		7,531
	6,352,388		National Grid plc		89,714
	199,719		New Jersey Resources Corp		6,563
	148,260		NextEra Energy Partners LP		4,147
	2,329,925	e	NextEra Energy, Inc		284,996
	1,311,902		NiSource, Inc		31,630
	106,226	e	Northland Power Income Fund		1,979
	89,793		Northwest Natural Gas Co		5,397
	112,365		NorthWestern Corp		6,464
	531,528		NRG Energy, Inc		5,958
	279,166		NRG Yield, Inc (Class A)		4,556
	213,169	e	NRG Yield, Inc (Class C)		3,615
	2,725,543		NTPC Ltd		6,068
	743,699		OGE Energy Corp		23,516
	290,600		Okinawa Electric Power Co, Inc		6,553
	138,657		ONE Gas, Inc		8,575
	106,919		Ormat Technologies, Inc		5,176
	0		Ormat Technologies, Inc (Foreign)		0	^
	2,023,188		Osaka Gas Co Ltd		8,486
	99,841		Otter Tail Corp		3,453
	298,221	*	Pampa Energia S.A. (ADR)		9,662
	238,086	e	Pattern Energy Group, Inc		5,355
	482,305	e	Pennon Group plc		5,576
	1,444,291		Petronas Gas BHD		7,643
	2,738,397		PG&E Corp		167,508

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	147,528		Piedmont Natural Gas Co, Inc	$	8,858
	506,466		Pinnacle West Capital Corp		38,486
	311,533		PNM Resources, Inc		10,193
	10,864,294		PNOC Energy Development Corp		1,326
	962,958		Polska Grupa Energetyczna S.A.		2,558
	206,431		Portland General Electric Co		8,792
	2,488,715		PPL Corp		86,035
	15,608,932		PT Perusahaan Gas Negara Persero Tbk		3,448
	2,028,867		PTC India Ltd		2,274
	108,906		Public Power Corp		327
	885,498		Public Service Enterprise Group, Inc		37,076
	27,310		Qatar Electricity & Water Co		1,600
	648,156		Red Electrica Corp S.A.		13,985
	194,182	e	Redes Energeticas Nacionais S.A.		568
	433,695		Reliance Energy Ltd		3,601
	82,069	m	Rosseti PJSC (ADR)		244
	31,873	e	Rubis		2,923
	1,580,175		RusHydro PJSC (ADR)		1,880
	482,708	*,e	RWE AG.		8,336
	1,211,845		Saeta Yield S.A.		12,048
	8,448		Samchully Co Ltd		772
	489,400		Scan Inter PCL		107
	183,953		SCANA Corp		13,313
	52,904	e,g	Scatec Solar ASA		205
	287,048		Scottish & Southern Energy plc		5,829
	50,786		Sechilienne-Sidec		878
	1,439,492		Sempra Energy		154,299
	54,345		Severn Trent plc		1,763
	171,800	*	Shanghai Lingyun Industries Development Co Ltd		215
	114,184		Shikoku Electric Power Co, Inc		1,129
	142,700		Shizuoka Gas Co Ltd		1,128
	1,298,480	*	SIIC Environment Holdings Ltd		590
	37,448		SJW Corp		1,636
	1,916,284		Snam Rete Gas S.p.A.		10,626
	128,000	*,m	Sound Global Ltd		25
	266,973		South Jersey Industries, Inc		7,889
	1,689,629		Southern Co		86,678
	200,164		Southwest Gas Corp		13,983
	24,636	e	Spark Energy, Inc		718
	1,961,180		Spark Infrastructure Group		3,481
	388,600		SPCG PCL		228
	115,011		Spire, Inc		7,331
	1,334,447		Suez Environnement S.A.		22,052
	355,243	e	Superior Plus Corp		3,195
	371,450		Taiwan Cogeneration Corp		275
	295,742	*,e	Talen Energy Corp		4,096
	384,300		Taliworks Corp BHD		138
	1,371,092		Tata Power Co Ltd		1,556
	1,954,773		Tauron Polska Energia S.A.		1,330
	145,698	e	Telecom Plus plc		2,089
	4,532,741		Tenaga Nasional BHD		15,674
	46,011		Terna Energy S.A.		133

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	433,762		Terna Rete Elettrica Nazionale S.p.A.	$	2,236
	213,868		TerraForm Global, Inc		879
	261,590	e	TerraForm Power, Inc		3,639
	1,003,900		Thai Solar Energy PCL		142
	1,334,400		Thai Tap Water Supply PCL		416
	1,818,000		Tianjin Development Hldgs Ltd		875
	573,007	e	Toho Gas Co Ltd		5,366
	806,675		Tohoku Electric Power Co, Inc		10,520
	1,655,319	*	Tokyo Electric Power Co, Inc		7,171
	2,277,813		Tokyo Gas Co Ltd		10,134
	230,769		Torrent Power Ltd		627
	3,259,828	e	Towngas China Co Ltd		1,879
	306,293		TransAlta Corp		1,361
	246,785	e	TransAlta Renewables, Inc		2,771
	104,621		Transmissora Alianca de Energia Eletrica S.A.		675
	341,855		UGI Corp		15,466
	763,765	*	Uniper SE		9,356
	2,830,000	*,e	United Photovoltaics Group Ltd		268
	143,306		United Utilities Group plc		1,861
	41,768		Unitil Corp		1,631
	36,464		VA Tech Wabag Ltd		301
	98,592	e	Valener, Inc		1,640
	25,000	e	Vanguard FTSE Developed Markets ETF		935
	167,951		Vectren Corp		8,431
	1,204,683		Veolia Environnement		27,758
	32,438	*,e	Vivint Solar, Inc		102
	1,481,344		VPC Specialty Lending Investments plc		1,536
	394,836		WEC Energy Group, Inc		23,643
	227,717	e	Westar Energy, Inc		12,923
	117,243		WGL Holdings, Inc		7,351
	4,111,212		Xcel Energy, Inc		169,135
	6,425		YESCO Co Ltd		220
	30,494	e	York Water Co		904
	4,655,285		YTL Corp BHD		2,015
	3,129,864		YTL Power International BHD		1,211
	337,000	e	Yunnan Water Investment Co Ltd		185
	263,591	*	Zorlu Enerji Elektrik Uretim AS		140
			TOTAL UTILITIES		3,522,618
			TOTAL COMMON STOCKS		112,942,131
			(Cost $103,812,455)
PURCHASED OPTIONS - 0.0%
CONSUMER SERVICES - 0.0%
	300		Chipotle Mexican Grill, Inc		10
			TOTAL CONSUMER SERVICES		10
DIVERSIFIED FINANCIALS - 0.0%
	42,500		S&P 500 Index		994
	14,500		S&P 500 Index		252
			TOTAL DIVERSIFIED FINANCIALS		1,246

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	1,000		Humana, Inc	$	1
	1,000		Humana, Inc		6
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		7
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	62,600		Coty, Inc		3
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		3
MATERIALS - 0.0%
	2,000		Monsanto Co		6
			TOTAL MATERIALS		6
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	3,000		Johnson & Johnson		0	^
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		0	^
SOFTWARE & SERVICES - 0.0%
	5,000		salesforce.com, Inc		1
			TOTAL SOFTWARE & SERVICES		1
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	18,000		Ciena Corp		14
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		14
			TOTAL PURCHASED OPTIONS		1,287
			(Cost $2,349)
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	8,868,883	*	ITAUSA Investimentos Itau PR		22,744
			TOTAL BANKS		22,744
CAPITAL GOODS - 0.0%
	29,949		Villeroy & Boch AG		478
			TOTAL CAPITAL GOODS		478
DIVERSIFIED FINANCIALS - 0.0%
	300,000		Daishin Securities Co Ltd Pref 2		1,964
			TOTAL DIVERSIFIED FINANCIALS		1,964
REAL ESTATE - 0.0%
	8,497,223	*,m	Ayala Land, Inc (Preferred B)		17
			TOTAL REAL ESTATE		17
			TOTAL PREFERRED STOCKS		25,203
			(Cost $30,234)
RIGHTS / WARRANTS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
	324,439		Tata Motors Ltd (DVR)		1,664
			TOTAL AUTOMOBILES & COMPONENTS		1,664
BANKS - 0.0%
	135,500		Kasikornbank PCL - NVDR		736
			TOTAL BANKS		736
CAPITAL GOODS - 0.0%
	97,750	m	Samsung Heavy Industries Co Ltd		202
			TOTAL CAPITAL GOODS		202

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	14,966	e	Collector AB	$	12
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		12
DIVERSIFIED FINANCIALS - 0.0%
	11,467	m	Emergent Capital, Inc		0
			TOTAL DIVERSIFIED FINANCIALS		0
ENERGY - 0.0%
	146,790	m	Banpu PCL		59
	244,517		Ezion Holdings Ltd		10
			TOTAL ENERGY		69
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		2
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		2
INSURANCE - 0.0%
	53,389	m	Cover-More Group Ltd		11
			TOTAL INSURANCE		11
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	153	e	Asterias Biotherapeutics, Inc		0	^
	2,121	e	BioTime, Inc		2
	13,620	m	CMG Pharmaceutical Co Ltd		12
	55,620	m	Forest Laboratories, Inc CVR		53
	17,790	m	Omthera Pharmaceuticals, Inc		11
	228,016	m	Trius Therapeutics, Inc		30
	2,346		ViroMed Co Ltd		48
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		156
REAL ESTATE - 0.0%
	18,788		Aliansce Shopping Centers S.A.		2
	4,761,352	m	BGP Holdings plc		0
	114,905		Cheuk Nang Holdings Ltd		29
	201,235	m	Tritax Big Box REIT PLC		17
			TOTAL REAL ESTATE		48
SOFTWARE & SERVICES - 0.0%
	141,205	m	Gerber Scientific, Inc		0
			TOTAL SOFTWARE & SERVICES		0
TELECOMMUNICATION SERVICES - 0.0%
	196,024	m	Leap Wireless International, Inc		494
			TOTAL TELECOMMUNICATION SERVICES		494

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

								VALUE
SHARES			COMPANY					(000)
TRANSPORTATION - 0.0%
	13,410	m	Asiana Airlines, Inc					$	0
	2		Thoresen Thai Agencies PCL						0	^
			TOTAL TRANSPORTATION						0
			TOTAL RIGHTS / WARRANTS						3,418
			(Cost $3,331)
							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 3.9%
GOVERNMENT AGENCY DEBT - 0.1%
$	80,000,000	d	Federal Home Loan Bank (FHLB)		0.370	%	10/05/16		79,999
			TOTAL GOVERNMENT AGENCY DEBT						79,999
TREASURY DEBT - 0.5%
	14,200,000		United States Treasury Bill		0.308 - 0.311		10/20/16		14,199
	37,000,000		United States Treasury Bill		0.291		11/17/16		36,992
	10,200,000		United States Treasury Bill		0.300		12/01/16		10,197
	93,400,000		United States Treasury Bill		0.265		12/22/16		93,349
	42,600,000	d	United States Treasury Bill		0.394		12/29/16		42,571
	142,100,000		United States Treasury Bill		0.305 - 0.312		02/09/17		141,926
	50,000,000	d	United States Treasury Bill		0.320		03/02/17		49,924
	92,800,000		United States Treasury Bill		0.468		03/16/17		92,627
	49,700,000	d	United States Treasury Bill		0.369		03/23/17		49,600
			TOTAL TREASURY DEBT						531,385
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 3.3%
CERTIFICATE OF DEPOSIT - 0.7%
	210,000,000		Bank of Montreal		0.250		10/03/16		210,000
	210,000,000		CIBC Bank and Trust Company		0.260		10/03/16		210,000
	210,000,000		Deutsche Bank		0.500		10/03/16		210,000
	210,000,000		National Australia Bank Ltd		0.280		10/03/16		210,000
			TOTAL CERTIFICATE OF DEPOSIT						840,000
REPURCHASE AGREEMENT - 2.5%
	80,000,000	r	Bank of Nova Scotia		0.450		10/03/16		80,000
	175,000,000	s	Barclays		0.470		10/03/16		175,000
	400,000,000	t	Barclays		0.470		10/03/16		400,000
	109,000,000	u	Citigroup		0.500		10/03/16		109,000
	36,000,000	v	Citigroup		0.510		10/03/16		36,000
	85,000,000	w	Citigroup		0.440		10/07/16		85,000
	275,000,000	x	Citigroup		0.450		10/07/16		275,000
	50,000,000	y	Deutsche Bank		0.500		10/03/16		50,000
	25,000,000	z	Goldman Sachs		0.310		10/03/16		25,000
	350,000,000	aa	Goldman Sachs		0.380		10/06/16		350,000
	65,000,000	ab	HSBC		0.450		10/03/16		65,000
	50,000,000	ac	HSBC		0.380		10/04/16		50,000
	400,000,000	ad	Nomura		0.510		10/03/16		400,000
	89,000,000	ae	Royal Bank of Scotland		0.460		10/03/16		89,000
	300,000,000	af	Royal Bank of Scotland		0.340		10/04/16		300,000
	400,000,000	ag	Royal Bank of Scotland		0.350		10/04/16		400,000
			TOTAL REPURCHASE AGREEMENT						2,889,000

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

							MATURITY	VALUE
SHARES			COMPANY	RATE			DATE	(000)
VARIABLE RATE SECURITIES - 0.1%
	111,166,055	i	SLM Student Loan Trust 2007		0.755	%	01/25/19	$	110,306
			TOTAL VARIABLE RATE SECURITIES						110,306
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						3,839,306
			TOTAL SHORT-TERM INVESTMENTS						4,450,690
			(Cost $4,451,469)
			TOTAL INVESTMENTS - 103.3%						117,423,487
			(Cost $108,300,653)
			OTHER ASSETS & LIABILITIES, NET - (3.3)%						(3,723,989	)
			NET ASSETS - 100.0%					$	113,699,498

	Abbreviation(s):
ADR	American Depositary Receipt
BRL	Brazilian Real
DVR	Differential Voting Rights
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 contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $4,087,480,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/16, the aggregate value of these securities was $461,829,000 or 0.4% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written contracts.
r	Agreement with Bank of Nova Scotia, 0.45% dated 9/30/16 to be repurchased at $80,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $81,603,000.
s	Agreement with Barclays, 0.47% dated 9/30/16 to be repurchased at $175,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $178,442,000.
t	Agreement with Barclays, 0.47% dated 9/30/16 to be repurchased at $400,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $408,000,000.
u	Agreement with Citigroup, 0.50% dated 9/30/16 to be repurchased at $109,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $111,180,000.
v	Agreement with Citigroup, 0.51% dated 9/30/16 to be repurchased at $36,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $36,720,000.
w	Agreement with Citigroup, 0.44% dated 9/30/16 to be repurchased at $85,000,000 on 10/07/16, collateralized by U.S. Government Agency Securities valued at $86,700,000.

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

x	Agreement with Citigroup, 0.45% dated 9/30/16 to be repurchased at $275,000,000 on 10/07/16, collateralized by U.S. Government Agency Securities valued at $280,500,000.
y	Agreement with Deutshe Bank, 0.50% dated 9/30/16 to be repurchased at $50,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $51,000,000.
z	Agreement with Goldman Sachs, 0.31% dated 9/26/16 to be repurchased at $25,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $25,500,000.
aa	Agreement with Goldman Sachs, 0.38% dated 9/29/16 to be repurchased at $350,000,000 on 10/06/16, collateralized by U.S. Government Agency Securities valued at $357,000,000.
ab	Agreement with HSBC, 0.45% dated 9/30/16 to be repurchased at $65,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $66,302,000.
ac	Agreement with HSBC, 0.38% dated 9/27/16 to be repurchased at $50,000,000 on 10/04/16, collateralized by U.S. Government Agency Securities valued at $51,003,000.
ad	Agreement with Nomura, 0.51% dated 9/30/16 to be repurchased at $400,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $408,000,000.
ae	Agreement with Royal Bank of Scotland, 0.46% dated 9/30/16 to be repurchased at $89,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $90,781,000.
af	Agreement with Royal Bank of Scotland, 0.34% dated 9/27/16 to be repurchased at $300,000,000 on 10/04/16, collateralized by U.S. Government Agency Securities valued at $306,000,000.
ag	Agreement with Royal Bank of Scotland, 0.35% dated 9/29/16 to be repurchased at $400,000,000 on 10/06/16, collateralized by U.S. Government Agency Securities valued at $408,002,000.

Cost amounts are in thousands.

189

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

September 30, 2016

	Value		% of total
Country	(000)		portfolio
DOMESTIC
UNITED STATES	$	81,973,176		69.9	%
TOTAL DOMESTIC		81,973,176		69.9
FOREIGN
ARGENTINA		25,076		0.0
AUSTRALIA		1,467,270		1.2
AUSTRIA		132,142		0.1
BELGIUM		272,964		0.2
BERMUDA		136,562		0.1
BRAZIL		554,426		0.5
CANADA		2,366,087		2.0
CAYMAN ISLANDS		3,593		0.0
CHILE		109,445		0.1
CHINA		2,227,625		1.9
COLOMBIA		38,731		0.0
CYPRUS		63		0.0
CZECH REPUBLIC		37,677		0.0
DENMARK		441,573		0.4
EGYPT		22,751		0.0
FAROE ISLANDS		6,149		0.0
FINLAND		298,984		0.3
FRANCE		2,485,351		2.1
GEORGIA		4,004		0.0
GERMANY		2,128,785		1.8
GREECE		27,190		0.0
GUERNSEY, C.I.		347		0.0
HONG KONG		892,631		0.8
HUNGARY		26,351		0.0
INDIA		773,588		0.7
INDONESIA		218,450		0.2
IRELAND		477,113		0.4
ISLE OF MAN		6,852		0.0
ISRAEL		206,261		0.2
ITALY		512,422		0.4
JAPAN		5,845,806		5.0
JERSEY, C.I.		17,389		0.0
JORDAN		3,282		0.0
KOREA, REPUBLIC OF		1,258,044		1.1
LUXEMBOURG		87,615		0.1
MACAU		4,009		0.0
MALAYSIA		199,597		0.2
MALTA		7,069		0.0
MEXICO		277,605		0.2
MONACO		4,947		0.0
NETHERLANDS		1,123,149		1.0
NEW ZEALAND		116,387		0.1

190

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	Value		% of total
Country	(000)		portfolio
NORWAY	$	215,206		0.2	%
PANAMA		16,501		0.0
PERU		36,389		0.0
PHILIPPINES		135,249		0.1
POLAND		72,048		0.1
PORTUGAL		50,131		0.0
PUERTO RICO		28,785		0.0
QATAR		47,852		0.0
ROMANIA		3,967		0.0
RUSSIA		267,212		0.2
SINGAPORE		589,684		0.5
SOUTH AFRICA		547,543		0.5
SPAIN		519,692		0.4
SWEDEN		546,109		0.5
SWITZERLAND		1,758,014		1.5
TAIWAN		1,143,094		1.0
THAILAND		206,631		0.2
TURKEY		98,507		0.1
UNITED ARAB EMIRATES		68,635		0.1
UNITED KINGDOM		4,238,017		3.6
URUGUAY		15,683		0.0
TOTAL FOREIGN		35,450,311		30.2
TOTAL PORTFOLIO	$	117,423,487		100.0	%

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2016

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.1%
ARGENTINA - 0.0%
	80,085	*	Pampa Energia S.A. (ADR)	$	2,595
			TOTAL ARGENTINA		2,595
AUSTRALIA - 1.8%
	156,441		AGL Energy Ltd		2,290
	696,501	e	Alumina Ltd		784
	711,931		Amcor Ltd		8,292
	970,957		AMP Ltd		3,947
	133,918		APA Group		877
	25,645		Aristocrat Leisure Ltd		312
	321,889	*,m	Arrium Ltd		2
	84,640		AusNet Services		107
	1,436,474		Australia & New Zealand Banking Group Ltd		30,599
	66,761		Australian Stock Exchange Ltd		2,473
	17,955	e	Bank of Queensland Ltd		157
	21,841	e	Bendigo Bank Ltd		181
	2,110,139		BHP Billiton Ltd		36,553
	783,643	e	BHP Billiton Ltd (ADR)		27,153
	389,118		BHP Billiton plc		5,852
	126,480		BlueScope Steel Ltd		755
	35,955		Boral Ltd		187
	291,527		Brambles Ltd		2,687
	12,472		Caltex Australia Ltd		330
	80,260		Challenger Financial Services Group Ltd		629
	37,910	e	CIMIC Group Ltd		840
	131,777		Coca-Cola Amatil Ltd		1,039
	7,101	e	Cochlear Ltd		770
	595,165	e	Commonwealth Bank of Australia		33,188
	106,886		Computershare Ltd		848
	17,277		Crown Resorts Ltd		174
	134,483		CSL Ltd		11,059
	86,712		Dexus Property Group		609
	44,567		Domino’s Pizza Enterprises Ltd		2,415
	114,040		DUET Group (ASE Exchange)		220
	71,877		DuluxGroup Ltd		365
	2,488	e	Flight Centre Travel Group Ltd		70
	1,722,274	e	Fortescue Metals Group Ltd		6,592
	146,715		GPT Group (ASE)		571
	24,442	e	Harvey Norman Holdings Ltd		98
	82,214		Healthscope Ltd		194
	178,483		Incitec Pivot Ltd		388
	642,775		Insurance Australia Group Ltd		2,707
	177,021		Lend Lease Corp Ltd		1,918
	84,454		Macquarie Goodman Group		473
	67,489		Macquarie Group Ltd		4,268

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	128,255		Medibank Pvt Ltd	$	244
	976,429		Mirvac Group		1,683
	853,400		National Australia Bank Ltd		18,345
	399,734	*	Newcrest Mining Ltd		6,748
	1,037,956		Northern Star Resources Ltd		3,678
	65,657	e	Oil Search Ltd		362
	84,639	e	Orica Ltd		992
	438,494		Origin Energy Ltd		1,849
	328,034		Orora Ltd		796
	72,671		Oxiana Ltd		340
	3,596		Perpetual Trustees Australia Ltd		129
	10,217	e	Platinum Asset Mangement Ltd		40
	103,218		Qantas Airways Ltd		248
	452,164		QBE Insurance Group Ltd		3,235
	98,224		QR National Ltd		355
	10,689		Ramsay Health Care Ltd		650
	2,504		REA Group Ltd		109
	341,649		Santos Ltd		963
	1,794,810		Scentre Group		6,480
	15,655		Seek Ltd		188
	42,421		Shopping Centres Australasia Property Group		74
	55,560		Sonic Healthcare Ltd		941
	909,330	*	South32 Ltd		1,694
	2,070,000		Star Entertainment Grp Ltd		9,601
	873,357		Stockland Trust Group		3,199
	429,903		Suncorp-Metway Ltd		4,011
	759,091		Sydney Airport		4,069
	37,710		Tabcorp Holdings Ltd		144
	68,801		Tattersall’s Ltd		193
	1,510,977		Telstra Corp Ltd		6,024
	16,252		TPG Telecom Ltd		108
	918,601		Transurban Group (ASE)		8,028
	35,493		Treasury Wine Estates Ltd		301
	215,836		Vicinity Centres		526
	173,990	*	Virgin Australia Holdings Ltd		31
	23,657	e	Vocus Communications Ltd		113
	278,218		Wesfarmers Ltd		9,432
	587,473	e	Westfield Corp		4,396
	1,153,904	e	Westpac Banking Corp		26,254
	163,943		Woodside Petroleum Ltd		3,635
	260,055	e	Woolworths Ltd		4,656
	14,169		WorleyParsons Ltd		92
			TOTAL AUSTRALIA		327,929
AUSTRIA - 0.2%
	5,392		Andritz AG.		293
	22,519		Erste Bank der Oesterreichischen Sparkassen AG.		667
	65,989	*,e,m	Immoeast AG.		0
	11,127	e	OMV AG.		320
	9,322	*	Raiffeisen International Bank Holding AG.		142
	84,830		Voestalpine AG.		2,933
	1,718,287		Wienerberger AG.		29,174
			TOTAL AUSTRIA		33,529

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
BELGIUM - 0.3%
	14,394		Ageas	$	526
	303,635		Anheuser-Busch InBev NV		39,930
	2,712		Befimmo SCA Sicafi		164
	11,477		Belgacom S.A.		343
	1,739		Cofinimmo		217
	5,200	e	Colruyt S.A.		289
	63,522	*	Fagron NV		689
	6,126		Groupe Bruxelles Lambert S.A.		544
	18,831	*	KBC Groep NV		1,099
	5,644		Solvay S.A.		654
	4,099	*	Telenet Group Holding NV		214
	26,316		UCB S.A.		2,037
	7,254		Umicore		456
			TOTAL BELGIUM		47,162
BERMUDA - 0.1%
	82,830	*	Arch Capital Group Ltd		6,565
	156,148		Marvell Technology Group Ltd		2,072
	53,857		RenaissanceRe Holdings Ltd		6,472
	133,871	*	Third Point Reinsurance Ltd		1,606
			TOTAL BERMUDA		16,715
BRAZIL - 0.1%
	808,060		Banco Itau Holding Financeira S.A.		8,826
	1,484,297		Itau Unibanco Banco Multiplo S.A. (ADR)		16,238
			TOTAL BRAZIL		25,064
CANADA - 3.2%
	134,315		Agnico-Eagle Mines Ltd		7,264
	16,945	e	Agrium, Inc		1,535
	746,764		Alimentation Couche Tard, Inc		36,190
	22,179	e	AltaGas Income Trust		570
	12,079	e	ARC Resources Ltd		219
	16,954		Atco Ltd		602
	135,706	*	Bank of Montreal		8,893
	281,298		Bank of Nova Scotia		14,906
	296,990		Barrick Gold Corp (Canada)		5,259
	159,461		BCE, Inc		7,364
	16,843	*	Blackberry Ltd (New)		134
	11,222		Boardwalk Real Estate Investment Trust		443
	68,209	*,e	Bombardier, Inc		94
	179,316		Brookfield Asset Management, Inc		6,305
	1,439		Brookfield Business Partners LP		38
	136,804		CAE, Inc		1,943
	13,834	e	Cameco Corp (Toronto)		118
	4,016		Canadian Apartment Properties REIT		94
	114,431	e	Canadian Imperial Bank of Commerce/Canada		8,873
	189,745		Canadian National Railway Co		12,403
	589,733		Canadian Natural Resources Ltd (Canada)		18,852
	75,010	e	Canadian Pacific Railway Ltd (Toronto)		11,446
	2,431		Canadian Real Estate Investment Trust		87

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	52,499		Canadian Tire Corp Ltd	$	5,257
	4,422		Canadian Utilities Ltd		125
	190,617	e	Cara Operations Ltd		4,009
	28,975		CCL Industries		5,579
	390,000	*	Celestica, Inc		4,218
	2,402,103		Cenovus Energy, Inc (Toronto)		34,477
	67,060	*	CGI Group, Inc		3,194
	110,488	e	CI Financial Corp		2,120
	1,620		Constellation Software, Inc		730
	30,841	e	Crescent Point Energy Corp		407
	336,902	e	Dollarama, Inc		26,304
	92,645	*	Eldorado Gold Corp		364
	13,557	e	Element Financial Corp		170
	5,855		Empire Co Ltd		87
	230,606		Enbridge, Inc		10,135
	302,459		EnCana Corp		3,161
	3,177		Fairfax Financial Holdings Ltd		1,862
	79,444		Finning International, Inc		1,478
	3,924		First Capital Realty, Inc		66
	174,895		First Quantum Minerals Ltd		1,448
	97,472		Fortis, Inc		3,135
	54,450		Franco-Nevada Corp		3,804
	51,783		George Weston Ltd		4,320
	231,200		Gildan Activewear, Inc		6,457
	252,109		Goldcorp, Inc		4,160
	110,550		Great-West Lifeco, Inc		2,721
	23,866		H&R Real Estate Investment Trust		408
	170,211		Husky Energy, Inc		2,085
	6,341	e,g	Hydro One Ltd		125
	60,093	e	IGM Financial, Inc		1,622
	64,969		Imperial Oil Ltd		2,032
	3,286		Industrial Alliance Insurance and Financial Services, Inc		118
	62,101		Intact Financial Corp		4,489
	127,271		Inter Pipeline Ltd		2,687
	2,358		Jean Coutu Group PJC, Inc		36
	75,406	e	Keyera Corp		2,438
	80,298	*	Kinaxis, Inc		4,090
	540,661	*	Kinross Gold Corp		2,279
	167,336		Linamar Corp		6,987
	28,894		Loblaw Cos Ltd		1,487
	93,484	*	Magna International, Inc		4,013
	160,000		Magna International, Inc (Class A)		6,872
	429,471		Manulife Financial Corp		6,059
	1,492,327	*,e	MEG Energy Corp		6,745
	3,134		Methanex Corp		112
	325,033		Metro, Inc		10,671
	104,677	e	National Bank of Canada		3,712
	2,913		Onex Corp		188
	163,553		Open Text Corp		10,594
	122,369		Pembina Pipeline Income Fund		3,729
	75,751	e	Peyto Exploration & Development Corp		2,126
	251,430		Potash Corp of Saskatchewan		4,092
	159,810		Power Corp Of Canada		3,385

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	116,126	e	Power Financial Corp	$	2,691
	7,182	e	PrairieSky Royalty Ltd		146
	1,599		Restaurant Brands International LP		71
	206,715		Restaurant Brands International, Inc		9,215
	72,959		Restaurant Brands International, Inc (Toronto)		3,253
	127,895		RioCan Real Estate Investment Trust		2,654
	54,381		Rogers Communications, Inc (Class B)		2,307
	592,702	*	Royal Bank of Canada		36,711
	75,840		Saputo, Inc		2,635
	7,621	*	Seven Generations Energy Ltd		183
	35,641		Shaw Communications, Inc (B Shares)		729
	205,333		Silver Wheaton Corp		5,547
	13,879		Smart Real Estate Investment Trust		374
	6,535		SNC-Lavalin Group, Inc		257
	440,336	*,g	Spin Master Corp		10,509
	201,610		Sun Life Financial, Inc		6,560
	1,284,156		Suncor Energy, Inc		35,648
	183,456		Teck Cominco Ltd		3,307
	77,270		TELUS Corp		2,550
	1,347,120		Toronto-Dominion Bank		59,801
	241,429	*	Tourmaline Oil Corp		6,540
	357,981	e	TransCanada Corp		17,002
	162,941	e	TransForce, Inc		3,374
	32,918	*	Turquoise Hill Resources Ltd		97
	181,031	e	Veresen, Inc		1,849
	4,152	e	Vermilion Energy, Inc		161
	29,241		Waste Connections, Inc		2,184
	2,224	e	West Fraser Timber Co Ltd		69
	180,000		WestJet Airlines Ltd		3,145
	49,126	e	Winpak Ltd		1,641
	452,394	e	Yamana Gold, Inc		1,948
			TOTAL CANADA		589,759
CHILE - 0.1%
	29,552	e	Antofagasta plc		200
	337,690		Sociedad Quimica y Minera de Chile S.A. (ADR)		9,084
			TOTAL CHILE		9,284
CHINA - 0.2%
	117,860	*	Alibaba Group Holding Ltd (ADR)		12,469
	15,471	*	Baidu, Inc (ADR)		2,817
	9,579,000	*,e,m	China Animal Healthcare Ltd		12
	1,238,000		China Aoyuan Property Group Ltd		298
	7,346,800		China Everbright International Ltd		8,808
	1,300,255	*,m	China New Town Development Co Ltd		58
	519,188		China Overseas Land & Investment Ltd		1,785
	203,000		CNOOC Ltd		256
	3,666,500	*	Intime Retail Group Co Ltd		3,216
	84,259	*	JD.com, Inc (ADR)		2,198
	2,445,612		Sino-Ocean Land Holdings Ltd		1,135
	144,500		Tencent Holdings Ltd		4,017
	86,449		Yangzijiang Shipbuilding		48
			TOTAL CHINA		37,117

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
CZECH REPUBLIC - 0.0%
	1,138,510	*,g	Moneta Money Bank AS.	$	3,626
			TOTAL CZECH REPUBLIC		3,626
DENMARK - 0.9%
	295		AP Moller - Maersk AS (Class A)		414
	490		AP Moller - Maersk AS (Class B)		721
	8,168		Carlsberg AS (Class B)		781
	7,513		Christian Hansen Holding		447
	9,022		Coloplast AS		702
	634,464		Danske Bank AS		18,562
	1,195,096	*,g	DONG Energy A.S.		49,709
	104,459		DSV AS		5,212
	4,324	*	Genmab AS		740
	82,850		GN Store Nord		1,787
	741,953	*	H Lundbeck AS		24,368
	12,646		ISS A.S.		525
	916,777		Novo Nordisk AS		38,210
	17,574		Novozymes AS		775
	88,446		Pandora AS		10,713
	180,000		Sydbank AS		5,488
	61,554	*	TDC AS		362
	300,000	*	Topdanmark AS		8,418
	8,529		Tryg A.S.		171
	16,760		Vestas Wind Systems AS		1,384
	9,589	*	William Demant Holding A.S.		196
			TOTAL DENMARK		169,685
FINLAND - 0.6%
	152,591		Amer Sports Oyj (A Shares)		4,667
	10,525		Elisa Oyj (Series A)		388
	34,404		Fortum Oyj		556
	352,600		Huhtamaki Oyj		16,424
	50,000		Kesko Oyj (B Shares)		2,304
	25,373		Kone Oyj (Class B)		1,288
	8,479		Metso Oyj		247
	259,784		Neste Oil Oyj		11,081
	5,957,701		Nokia Oyj (Turquoise)		34,533
	8,594		Nokian Renkaat Oyj		313
	8,051		Orion Oyj (Class B)		317
	1,193,600	*	Outokumpu Oyj		8,195
	602,235		Sampo Oyj (A Shares)		26,756
	42,767		Stora Enso Oyj (R Shares)		380
	40,594		UPM-Kymmene Oyj		857
	10,968		Wartsila Oyj (B Shares)		494
			TOTAL FINLAND		108,800
FRANCE - 3.2%
	310,243		Accor S.A.		12,310
	2,141		Aeroports de Paris		212
	29,252		Air Liquide		3,137
	11,859	*	Alstom RGPT		314

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	502,753		Arkema	$	46,546
	6,514		Atos Origin S.A.		701
	377,523		AXA S.A.		8,027
	194,043		BNP Paribas		9,980
	67,445		Bollore		235
	100,617		Bouygues S.A.		3,337
	20,158		Bureau Veritas S.A.		433
	25,445		Cap Gemini S.A.		2,495
	41,986		Carrefour S.A.		1,089
	4,295		Casino Guichard Perrachon S.A.		209
	4,146		Christian Dior S.A.		744
	12,271		CNP Assurances		206
	752,668		Compagnie de Saint-Gobain		32,568
	80,426		Credit Agricole S.A.		793
	89,230		Dassault Systemes S.A.		7,746
	16,113		Edenred		377
	4,520		Eiffage S.A.		351
	18,522	e	Electricite de France		225
	28,846		Essilor International S.A.		3,721
	3,133		Eurazeo		182
	140,862		European Aeronautic Defence and Space Co		8,543
	13,498		Eutelsat Communications		279
	526,042		Faurecia		20,643
	2,484		Fonciere Des Regions		231
	996,221		France Telecom S.A.		15,608
	505,028		Gaz de France		7,830
	3,099		Gecina S.A.		488
	541,183		Groupe Danone		40,184
	34,423		Groupe Eurotunnel S.A.		373
	1,976		Hermes International		804
	6,617		Icade		516
	2,019		Iliad S.A.		424
	2,683		Imerys S.A.		194
	4,228		Ingenico		370
	190,217		JC Decaux S.A.		6,151
	5,786		Kering		1,168
	35,234		Klepierre		1,617
	8,662		Lagardere S.C.A.		221
	20,258		Legrand S.A.		1,194
	139,756		L’Oreal S.A.		26,415
	41,577		LVMH Moet Hennessy Louis Vuitton S.A.		7,089
	89,281		Michelin (C.G.D.E.) (Class B)		9,887
	72,467		Natixis		338
	8,670		Numericable-SFR  SAS		255
	31,886		Pernod-Ricard S.A.		3,776
	36,748	*	Peugeot S.A.		561
	14,278		Publicis Groupe S.A.		1,080
	1,731		Remy Cointreau S.A.		148
	193,500		Renault S.A.		15,919
	496,121		Rexel S.A.		7,600
	23,666		Safran S.A.		1,702
	329,791		Sanofi-Aventis		25,114
	665,045		Schneider Electric S.A.		46,263

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	12,410		SCOR SE	$	386
	2,149		Societe BIC S.A.		318
	58,121		Societe Generale		2,011
	7,166		Sodexho Alliance S.A.		854
	436,318		Suez Environnement S.A.		7,210
	8,436		Technip S.A.		519
	314,852		Teleperformance		33,586
	57,666		Thales S.A.		5,310
	1,514,335	e	Total S.A.		72,023
	30,991		Unibail-Rodamco		8,356
	390,337		Valeo S.A.		22,784
	159,759		Veolia Environnement		3,681
	360,776		Vinci S.A.		27,628
	87,588		Vivendi Universal S.A.		1,768
	2,091		Wendel		244
	15,548		Zodiac S.A.		378
			TOTAL FRANCE		575,979
GERMANY - 2.3%
	100,686		Adidas-Salomon AG.		17,512
	114,671		Allianz AG.		17,041
	255,710		Alstria Office REIT-AG.		3,512
	3,202		Axel Springer AG.		164
	69,599		BASF SE		5,959
	423,153		Bayer AG.		42,497
	26,271		Bayerische Motoren Werke AG.		2,212
	2,738		Bayerische Motoren Werke AG. (Preference)		202
	384,865		Beiersdorf AG.		36,329
	300,000		Borussia Dortmund GmbH & Co KGaA		1,636
	11,748		Brenntag AG.		642
	81,847		Commerzbank AG.		529
	62,936		Continental AG.		13,261
	5,649	g	Covestro AG.		334
	160,774		Daimler AG. (Registered)		11,339
	39,157		Deutsche Annington Immobilien SE		1,484
	169,106	*	Deutsche Bank AG.		2,204
	1,104		Deutsche Boerse AG.		86
	167,015	*	Deutsche Boerse AG. (Tender)		13,556
	18,048	e	Deutsche Lufthansa AG.		201
	73,518		Deutsche Post AG.		2,302
	1,363,044		Deutsche Telekom AG.		22,900
	58,591		Deutsche Wohnen AG.		2,132
	65,000		Duerr AG.		5,465
	309,727		E.ON AG.		2,201
	12,548		Evonik Industries AG.		425
	2,977		Fraport AG. Frankfurt Airport Services Worldwide		163
	180,000		Freenet AG.		5,268
	123,327		Fresenius Medical Care AG.		10,789
	58,195		Fresenius SE		4,649
	31,246		Fuchs Petrolub AG. (Preference)		1,427
	13,673		GEA Group AG.		760
	74,598		Hannover Rueckversicherung AG.		7,997
	10,752		HeidelbergCement AG.		1,017

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	7,749		Henkel KGaA	$	904
	13,600		Henkel KGaA (Preference)		1,851
	1,595		Hochtief AG.		225
	5,123		Hugo Boss AG.		284
	322,770		Infineon Technologies AG.		5,755
	14,877	e	K&S AG.		282
	6,902		Lanxess AG.		430
	267,713		Linde AG.		45,490
	2,680		MAN AG.		283
	62,280		Merck KGaA		6,718
	13,498		Metro AG.		402
	42,297		Muenchener Rueckver AG.		7,900
	7,108		Osram Licht AG.		418
	177,246	*	Paion AG.		523
	11,643		Porsche AG.		596
	391,253		ProSiebenSat. Media AG.		16,775
	73,810	*	RWE AG.		1,275
	148,235		SAP AG.		13,556
	12,630		Schaeffler AG.		200
	222,632	*,g	Scout24 AG.		7,499
	398,846		Siemens AG.		46,769
	41,000	*,e	SLM Solutions Group AG.		1,942
	150,000		Software AG.		6,357
	9,340		Symrise AG.		685
	52,452	e	Telefonica Deutschland Holding AG.		211
	27,539		ThyssenKrupp AG.		658
	37,841		TUI AG. (DI)		538
	15,618	*	Uniper SE		191
	9,326		United Internet AG.		413
	7,740		Volkswagen AG.		1,121
	8,348		Volkswagen AG. (Preference)		1,100
	103,312	e	Wirecard AG.		5,367
	6,779	*,g	Zalando SE		283
			TOTAL GERMANY		415,196
HONG KONG - 1.0%
	5,687,658		AIA Group Ltd		38,248
	10,718		ASM Pacific Technology		89
	154,751	e	Bank of East Asia Ltd		632
	829,353		BOC Hong Kong Holdings Ltd		2,822
	139,431	e	Cathay Pacific Airways Ltd		195
	58,953		Cheung Kong Infrastructure Holdings Ltd		509
	673,543		Cheung Kong Property Holdings Ltd		4,955
	625,000		Chow Sang Sang Holding		1,107
	912,543		CK Hutchison Holdings Ltd		11,664
	536,454		CLP Holdings Ltd		5,556
	101,463		First Pacific Co		73
	111,803		Galaxy Entertainment Group Ltd		425
	1,063,434	*	Global Brands Group Holding Ltd		109
	553,000	*	Glorious Property Holdings Ltd		74
	361,990		Hang Lung Group Ltd		1,384
	3,212,664		Hang Lung Properties Ltd		7,288
	383,572		Hang Seng Bank Ltd		6,886

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	516,017		Henderson Land Development Co Ltd	$	3,079
	130,500	e,g	HK Electric Investments & HK Electric Investments Ltd		128
	126,660		HKT Trust and HKT Ltd		178
	2,663,272		Hong Kong & China Gas Ltd		5,057
	330,488		Hong Kong Electric Holdings Ltd		3,234
	155,148		Hong Kong Exchanges and Clearing Ltd		4,106
	230,600		Hongkong Land Holdings Ltd		1,643
	47,000		Hopewell Highway Infrastructure Ltd		29
	262,347		Hutchison Port Holdings Trust		117
	82,760		Hysan Development Co Ltd		389
	11,900		Jardine Matheson Holdings Ltd		721
	48,000		Kerry Logistics Network Ltd		66
	1,561,948		Kerry Properties Ltd		5,132
	1,345,027		Li & Fung Ltd		693
	181,026		Link REIT		1,336
	1,002,692	e	Melco Crown Entertainment Ltd (ADR)		16,153
	398,157		MTR Corp		2,200
	1,915,027		New World Development Co Ltd		2,511
	842,404	*,e	Noble Group Ltd		95
	73,532		NWS Holdings Ltd		123
	199,262		PCCW Ltd		123
	2,756,333		Sands China Ltd		12,081
	51,992		Shangri-La Asia Ltd		57
	1,928,161		Shimao Property Holdings Ltd		2,635
	158,000		Shun TAK Holdings Ltd		51
	146,506		Sino Land Co		261
	94,611		SJM Holdings Ltd		70
	925,046		Sun Hung Kai Properties Ltd		14,063
	121,628		Swire Pacific Ltd (Class A)		1,317
	2,064,600		Swire Properties Ltd		6,072
	62,402		Techtronic Industries Co		245
	283,500	g	WH Group Ltd		229
	1,033,674		Wharf Holdings Ltd		7,584
	40,334		Wheelock & Co Ltd		240
	33,912		Yue Yuen Industrial Holdings		140
			TOTAL HONG KONG		174,174
	INDIA - 0.5%
	200,000		Axis Bank Ltd		1,631
	536,200		Bharat Petroleum Corp Ltd		4,940
	133,600		Container Corp Of India Ltd		2,774
	322,531	*	DEN Networks Ltd		348
	1,532,587		DLF Ltd		3,372
	450,000		HDFC Bank Ltd		8,617
	1,050,000		Hindustan Petroleum Corp Ltd		6,695
	244,517		Housing Development Finance Corp		5,129
	253,807		ICICI Bank Ltd (ADR)		1,896
	340,382	*	IVRCL Infrastructures & Projects Ltd		25
	16,154,409	*	Jain Irrigation Systems Ltd		21,786
	383,129		LIC Housing Finance Ltd		3,339
	210,000		Lupin Ltd		4,697
	90,834		Prestige Estates Projects Ltd		263
	1,217,892	*	Puravankara Projects Ltd		826

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	79,936	*,g	RBL Bank Ltd	$	350
	111,069		Reliance Industries Ltd		1,813
	315,343		Sobha Developers Ltd		1,388
	400,000		Sun Pharmaceutical Industries Ltd		4,471
	947,840	*	Sunteck Realty Ltd		3,546
	16,471,341	*	Unitech Ltd		1,458
	456,508		Yes Bank Ltd		8,626
			TOTAL INDIA		87,990
INDONESIA - 0.0%
	1,325,600		PT Matahari Department Store Tbk		1,882
			TOTAL INDONESIA		1,882
IRELAND - 0.9%
	229,227	*	AerCap Holdings NV		8,823
	11,611,105	*	Bank of Ireland		2,428
	1,545,702		CRH plc		51,326
	72,663		Experian Group Ltd		1,452
	4,656,328		Green REIT plc		7,611
	7,524,391		Hibernia REIT plc		11,580
	147,992	*,m	Irish Bank Resolution Corp Ltd		0
	21,288		James Hardie Industries NV		333
	244,340		Kerry Group plc (Class A)		20,355
	6,094		Paddy Power plc		689
	6,144	*	Ryanair Holdings plc		84
	327,935		Ryanair Holdings plc (ADR)		24,605
	27,850		Shire plc (ADR)		5,399
	977,088		Smurfit Kappa Group plc		21,842
	235,740		XL Group Ltd		7,928
			TOTAL IRELAND		164,455
ISRAEL - 0.1%
	3,450		Azrieli Group		151
	162,794		Bank Hapoalim Ltd		924
	212,031	*	Bank Leumi Le-Israel		807
	156,894		Bezeq Israeli Telecommunication Corp Ltd		296
	9,836	*	Check Point Software Technologies		763
	37,645		Israel Chemicals Ltd		147
	24,197		Mizrahi Tefahot Bank Ltd		308
	4,606		Nice Systems Ltd		307
	89,262		Teva Pharmaceutical Industries Ltd		4,143
	258,344		Teva Pharmaceutical Industries Ltd (ADR)		11,886
			TOTAL ISRAEL		19,732
ITALY - 0.6%
	4,000,000		A2A S.p.A.		5,650
	87,909		Assicurazioni Generali S.p.A.		1,073
	31,126		Autostrade S.p.A.		791
	5,953,401		Banca Intesa S.p.A.		13,217
	72,165	e	Banca Intesa S.p.A. RSP		151
	600,044		Banca Mediolanum S.p.A		3,978
	74,726	e	Banche Popolari Unite Scpa		172
	246,687		Beni Stabili S.p.A.		147

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	392,358		Davide Campari-Milano S.p.A.	$	4,422
	3,568,626		Enel S.p.A.		15,904
	625,533		ENI S.p.A.		9,014
	118,164		Exor S.p.A.		4,785
	9,277		Ferrari NV		482
	30,412	*	Finmeccanica S.p.A.		345
	85,541		Fondiaria-Sai S.p.A		139
	12,841		Luxottica Group S.p.A.		613
	1,860,436		Mediobanca S.p.A.		12,108
	924,327		Moncler S.p.A		15,779
	1,449,603	g	OVS S.p.A		8,388
	38,897	g	Poste Italiane S.p.A		267
	1,000,000		Prada S.p.A		3,212
	14,727		Prysmian S.p.A.		386
	430,682	*	Saipem S.p.A.		183
	186,474		Snam Rete Gas S.p.A.		1,034
	454,274		Telecom Italia RSP		308
	759,470	*	Telecom Italia S.p.A.		631
	115,816		Terna Rete Elettrica Nazionale S.p.A.		597
	394,577	e	UniCredit S.p.A		920
	304,209	*	Yoox S.p.A		9,428
			TOTAL ITALY		114,124
JAPAN - 7.9%
	1,500		ABC-Mart, Inc		102
	21,600	*	Acom Co Ltd		102
	605	*	Activia Properties Inc		3,217
	990		Advance Residence Investment Corp		2,801
	32,646		Aeon Co Ltd		483
	199,652		AEON Financial Service Co Ltd		3,495
	5,597		Aeon Mall Co Ltd		88
	3,562		AEON REIT Investment Corp		4,642
	8,000		Air Water, Inc		151
	314,990		Aisin Seiki Co Ltd		14,431
	218,175		Ajinomoto Co, Inc		4,865
	27,505		Alfresa Holdings Corp		582
	296,524	e	All Nippon Airways Co Ltd		806
	998,829		Alps Electric Co Ltd		24,110
	17,244		Amada Co Ltd		179
	59,848		Aozora Bank Ltd		206
	86,531		Asahi Breweries Ltd		3,152
	225,005		Asahi Glass Co Ltd		1,455
	323,134		Asahi Kasei Corp		2,575
	9,000		Ashikaga Holdings Co Ltd		32
	8,100		Asics Corp		163
	567,946		Astellas Pharma, Inc		8,871
	95,105	e	Bank of Kyoto Ltd		696
	3,353	e	Benesse Holdings Inc		86
	185		BLife Investment Corp		542
	460,004		Bridgestone Corp		16,948
	12,085		Brother Industries Ltd		212
	16,900		Calbee, Inc		640
	53,797		Canon, Inc		1,562

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	11,733	e	Casio Computer Co Ltd	$	164
	35,444		Central Japan Railway Co		6,068
	156,562	e	Chiba Bank Ltd		889
	203,766		Chubu Electric Power Co, Inc		2,965
	83,058		Chugai Pharmaceutical Co Ltd		3,002
	38,200		Chugoku Bank Ltd		466
	64,466	e	Chugoku Electric Power Co, Inc		811
	1,661		Comforia Residential REIT, Inc		4,095
	261,900	*	Concordia Financial Group Ltd		1,143
	7,668		Credit Saison Co Ltd		127
	20,000		CyberAgent, Inc		595
	281,400	*,e	CYBERDYNE, Inc		4,407
	26,076		Dai Nippon Printing Co Ltd		256
	6,700		Daibiru Corp		61
	14,546		Daicel Chemical Industries Ltd		184
	404,500		Dai-ichi Mutual Life Insurance Co		5,550
	53,294		Daiichi Sankyo Co Ltd		1,281
	110,046		Daikin Industries Ltd		10,269
	25,278		Daito Trust Construction Co Ltd		4,043
	28,956		Daiwa House Industry Co Ltd		795
	695,480		Daiwa Securities Group, Inc		3,916
	713,800		Dena Co Ltd		25,954
	221,887		Denso Corp		8,854
	67,955		Dentsu, Inc		3,459
	56,033		Don Quijote Co Ltd		2,056
	156,382		East Japan Railway Co		14,116
	32,828		Eisai Co Ltd		2,053
	99,293		Electric Power Development Co		2,386
	20,000	*,e	Euglena Co Ltd		289
	4,144		FamilyMart Co Ltd		277
	43,943		Fanuc Ltd		7,423
	11,719		Fast Retailing Co Ltd		3,774
	1,177,822		Fuji Electric Holdings Co Ltd		5,413
	330,580		Fuji Heavy Industries Ltd		12,403
	429,393		Fujifilm Holdings Corp		15,906
	132,991		Fujitsu Ltd		716
	174,733		Fukuoka Financial Group, Inc		726
	3,703		GLP J-Reit		4,931
	1,900		Goldcrest Co Ltd		31
	25,100	e	GungHo Online Entertainment Inc		62
	91,673		Hachijuni Bank Ltd		477
	10,300		Hakuhodo DY Holdings, Inc		121
	7,100	e	Hamamatsu Photonics KK		218
	12,100		Hankyu Hanshin Holdings, Inc		417
	700,000		Haseko Corp		6,733
	1,132		Hikari Tsushin, Inc		105
	72,582		Hino Motors Ltd		775
	1,632		Hirose Electric Co Ltd		215
	115,000		Hiroshima Bank Ltd		477
	8,575		Hisamitsu Pharmaceutical Co, Inc		463
	81,000		Hitachi Capital Corp		1,722
	22,170		Hitachi Chemical Co Ltd		509
	5,433		Hitachi Construction Machinery Co Ltd		108

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	150,700		Hitachi High-Technologies Corp	$	6,033
	4,531,758		Hitachi Ltd		21,238
	11,300		Hitachi Metals Ltd		139
	38,231	e	Hokuriku Electric Power Co		466
	370,096		Honda Motor Co Ltd		10,681
	11,512		Hoshizaki Electric Co Ltd		1,051
	88,253		Hoya Corp		3,550
	1,039		Hulic Reit, Inc		1,855
	4,500		Idemitsu Kosan Co Ltd		93
	7,329		Iida Group Holdings Co Ltd		147
	150		Industrial & Infrastructure Fund Investment Corp		764
	287,400		Infomart Corp		3,347
	48,210		Inpex Holdings, Inc		438
	300		Invesco Office J-Reit, Inc		263
	128,281		Isetan Mitsukoshi Holdings Ltd		1,263
	4,107,878		Ishikawajima-Harima Heavy Industries Co Ltd		11,938
	852,200	e	Istyle, Inc		6,970
	30,400		Isuzu Motors Ltd		358
	744,770		Itochu Corp		9,376
	49,800		Itochu Techno-Science Corp		1,281
	60,000	*	Itoham Yonekyu Holdings, Inc		627
	57,152		Iyo Bank Ltd		346
	266,700		J Front Retailing Co Ltd		3,492
	227,215		Japan Airlines Co Ltd		6,679
	2,403	e	Japan Airport Terminal Co Ltd		92
	20,346		Japan Post Bank Co Ltd		242
	22,840		Japan Post Holdings Co Ltd		287
	126		Japan Prime Realty Investment Corp		569
	105		Japan Real Estate Investment Corp		628
	6,040		Japan Rental Housing Investments, Inc		5,067
	696		Japan Retail Fund Investment Corp		1,717
	581,540		Japan Tobacco, Inc		23,805
	116,404		JFE Holdings, Inc		1,702
	41,478		JGC Corp		722
	141,624	m	Joyo Bank Ltd		594
	9,686		JSR Corp		152
	450,903		JTEKT Corp		6,773
	553,812		JX Holdings, Inc		2,242
	370,000		kabu.com Securities Co Ltd		1,246
	215,372		Kajima Corp		1,507
	7,334		Kakaku.com, Inc		133
	55,372		Kamigumi Co Ltd		483
	13,129		Kaneka Corp		104
	297,674	*	Kansai Electric Power Co, Inc		2,708
	11,414		Kansai Paint Co Ltd		250
	286,985		Kao Corp		16,226
	472,510		Kawasaki Heavy Industries Ltd		1,464
	458,800		KDDI Corp		14,215
	26,000		Keihan Electric Railway Co Ltd		182
	247,622		Keihin Electric Express Railway Co Ltd		2,584
	169,123		Keio Corp		1,479
	6,713		Keisei Electric Railway Co Ltd		168
	1,920		Kenedix Realty Investment Corp		11,804

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	725		Kenedix Retail REIT Corp	$	1,719
	10,051		Keyence Corp		7,364
	37,795		Kikkoman Corp		1,210
	176,914		Kintetsu Corp		743
	438,749		Kirin Brewery Co Ltd		7,292
	15,908		Kobe Steel Ltd		144
	5,700		Koito Manufacturing Co Ltd		277
	70,000		Kokuyo Co Ltd		1,017
	146,636		Komatsu Ltd		3,364
	4,886		Konami Corp		189
	23,220		Konica Minolta Holdings, Inc		197
	1,528		Kose Corp		156
	1,151,407		Kubota Corp		17,427
	17,574		Kuraray Co Ltd		261
	5,077		Kurita Water Industries Ltd		121
	16,100		Kyocera Corp		774
	312,989		Kyowa Hakko Kogyo Co Ltd		4,944
	113,135		Kyushu Electric Power Co, Inc		1,062
	77,400		Kyushu Financial Group, Inc		527
	2,177	*	LaSalle Logiport REIT		2,311
	3,280		Lawson, Inc		259
	13,064	e	LIXIL Group Corp		280
	54,740		M3, Inc		1,874
	14,405		Mabuchi Motor Co Ltd		799
	620,000		Maeda Corp		5,271
	27,936		Makita Corp		1,990
	814,972		Marubeni Corp		4,187
	10,609	e	Marui Co Ltd		140
	12,896		Maruichi Steel Tube Ltd		446
	1,222,100	e	Matsui Securities Co Ltd		9,997
	279,755		Matsushita Electric Industrial Co Ltd		2,798
	361,615		Mazda Motor Corp		5,548
	3,300		McDonald’s Holdings Co Japan Ltd		97
	8,259		Mediceo Paltac Holdings Co Ltd		143
	35,800		MEIJI Holdings Co Ltd		3,555
	130		MID Reit, Inc		403
	72,100		Minebea Co Ltd		682
	20,441		Miraca Holdings, Inc		1,019
	170,000		MISUMI Group, Inc		3,195
	309,119		Mitsubishi Chemical Holdings Corp		1,938
	335,711		Mitsubishi Corp		7,653
	444,814		Mitsubishi Electric Corp		5,701
	258,558		Mitsubishi Estate Co Ltd		4,852
	47,580		Mitsubishi Gas Chemical Co, Inc		681
	781,150		Mitsubishi Heavy Industries Ltd		3,268
	6,262		Mitsubishi Logistics Corp		91
	5,754		Mitsubishi Materials Corp		157
	34,200		Mitsubishi Motors Corp		160
	4,109,996		Mitsubishi UFJ Financial Group, Inc		20,822
	23,300		Mitsubishi UFJ Lease & Finance Co Ltd		107
	421,620		Mitsui & Co Ltd		5,843
	206,140		Mitsui Chemicals, Inc		981
	326,829		Mitsui Fudosan Co Ltd		6,953

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	57,499		Mitsui OSK Lines Ltd	$	134
	1,049,809		Mitsui Sumitomo Insurance Group Holdings, Inc		29,259
	74,676		Mitsui Trust Holdings, Inc		2,440
	2,600		Mixi Inc		94
	5,279,156		Mizuho Financial Group, Inc		8,898
	516,800	e	MonotaRO Co Ltd		13,932
	376		Mori Hills REIT Investment Corp		563
	72		Mori Trust Sogo Reit, Inc		126
	163,235		Murata Manufacturing Co Ltd		21,308
	5,639		Nabtesco Corp		160
	196,000		Nagoya Railroad Co Ltd		1,067
	9,806		Namco Bandai Holdings, Inc		300
	650,615		NEC Corp		1,678
	8,700		Nexon Co Ltd		137
	185,331		NGK Insulators Ltd		3,851
	8,893	e	NGK Spark Plug Co Ltd		157
	9,538		NHK Spring Co Ltd		92
	49,917		Nidec Corp		4,614
	17,381	e	Nikon Corp		260
	47,598		Nintendo Co Ltd		12,744
	418		Nippon Building Fund, Inc		2,648
	21,313		Nippon Electric Glass Co Ltd		110
	42,441		Nippon Express Co Ltd		198
	8,944		Nippon Meat Packers, Inc		216
	8,326		Nippon Paint Co Ltd		279
	1,979		Nippon ProLogis REIT, Inc		5,005
	110,401		Nippon Steel Corp		2,265
	706,700		Nippon Telegraph & Telephone Corp		32,322
	452,673		Nippon Yusen Kabushiki Kaisha		848
	619,362		Nissan Motor Co Ltd		6,075
	10,231		Nisshin Seifun Group, Inc		156
	2,945	e	Nissin Food Products Co Ltd		179
	4,000		Nitori Co Ltd		479
	223,337		Nitto Denko Corp		14,505
	57,653		NKSJ Holdings, Inc		1,709
	4,955		NOK Corp		108
	3,381,980		Nomura Holdings, Inc		15,156
	6,574		Nomura Real Estate Holdings, Inc		111
	660		Nomura Real Estate Master Fund, Inc		1,101
	27,444		Nomura Research Institute Ltd		947
	93,235		NSK Ltd		956
	56,800		NTT Data Corp		2,837
	1,281,900		NTT DoCoMo, Inc		32,564
	5,700		NTT Urban Development Corp		55
	142,296		Obayashi Corp		1,411
	3,300		Obic Co Ltd		176
	89,549		Odakyu Electric Railway Co Ltd		1,994
	189,999		OJI Paper Co Ltd		753
	411,742		Olympus Corp		14,379
	92,713		Omron Corp		3,337
	73,768		Ono Pharmaceutical Co Ltd		2,060
	1,803		Oracle Corp Japan		102
	196,700	e	Oriental Land Co Ltd		11,979

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,675,825		ORIX Corp	$	24,723
	187		Orix JREIT, Inc		328
	95,106		Osaka Gas Co Ltd		399
	115,500		Osaka Securities Exchange Co Ltd		1,806
	6,000		Otsuka Corp		285
	107,720		Otsuka Holdings KK		4,910
	347,700		Park24 Co Ltd		11,308
	51,200		Pola Orbis Holdings, Inc		4,583
	35		Premier Investment Co		46
	411,900		Rakuten, Inc		5,377
	43,513		Recruit Holdings Co Ltd		1,775
	1,277,972		Resona Holdings, Inc		5,375
	373,182	e	Ricoh Co Ltd		3,377
	1,712		Rinnai Corp		159
	21,524		Rohm Co Ltd		1,135
	1,244		Ryohin Keikaku Co Ltd		251
	2,180		Sankyo Co Ltd		74
	115,000		Santen Pharmaceutical Co Ltd		1,698
	109,800		Sawai Pharmaceutical Co Ltd		7,825
	11,091		SBI Holdings, Inc		132
	48,634		Secom Co Ltd		3,632
	9,652		Sega Sammy Holdings, Inc		138
	8,700		Seibu Holdings, Inc		144
	14,300		Seiko Epson Corp		275
	104,251		Sekisui Chemical Co Ltd		1,499
	1,362,420		Sekisui House Ltd		23,211
	246,912		Seven & I Holdings Co Ltd		11,673
	28,000	e	Seven Bank Ltd		90
	72,000	*,e	Sharp Corp		95
	38,732		Shikoku Electric Power Co, Inc		383
	12,047		Shimadzu Corp		184
	5,727		Shimamura Co Ltd		697
	3,792		Shimano, Inc		563
	1,614,962		Shimizu Corp		14,434
	160,800		Shin-Etsu Chemical Co Ltd		11,219
	450,778		Shinsei Bank Ltd		684
	87,137		Shionogi & Co Ltd		4,464
	19,193		Shiseido Co Ltd		508
	126,301		Shizuoka Bank Ltd		1,012
	65,528		Shoei Co Ltd		670
	9,522		Showa Shell Sekiyu KK		89
	12,891		SMC Corp		3,722
	262,500		SMS Co Ltd		7,022
	390,654		Softbank Corp		25,318
	3,600	e	Sohgo Security Services Co Ltd		193
	2,400,000		Sojitz Holdings Corp		6,149
	3,034,682		Sony Corp		100,541
	687,428		Sony Financial Holdings, Inc		9,467
	187,415		Stanley Electric Co Ltd		5,067
	9,300		Start Today Co Ltd		160
	338,883		Sumitomo Chemical Co Ltd		1,506
	201,363		Sumitomo Corp		2,254
	7,963	e	Sumitomo Dainippon Pharma Co Ltd		154

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	169,224		Sumitomo Electric Industries Ltd	$	2,392
	1,891,625		Sumitomo Heavy Industries Ltd		9,346
	25,631	e	Sumitomo Metal Mining Co Ltd		354
	1,172,590		Sumitomo Mitsui Financial Group, Inc		39,610
	200,021		Sumitomo Realty & Development Co Ltd		5,185
	8,563		Sumitomo Rubber Industries, Inc		130
	1,900		Sundrug Co Ltd		159
	7,000		Suntory Beverage & Food Ltd		303
	88,876		Suruga Bank Ltd		2,130
	4,007		Suzuken Co Ltd		132
	47,734		Suzuki Motor Corp		1,599
	312,688		Sysmex Corp		23,199
	218,131		T&D Holdings, Inc		2,461
	59,000		Taiheiyo Cement Corp		170
	230,368		Taisei Corp		1,728
	4,956		Taisho Pharmaceutical Holdings Co Ltd		508
	6,985		Taiyo Nippon Sanso Corp		73
	980,100		Takara Leben Co Ltd		6,629
	14,117		Takashimaya Co Ltd		116
	218,148		Takeda Pharmaceutical Co Ltd		10,456
	99,381		Tanabe Seiyaku Co Ltd		2,129
	6,256		TDK Corp		419
	9,523		Teijin Ltd		185
	32,941		Terumo Corp		1,267
	52,494		THK Co Ltd		1,033
	252,878		Tobu Railway Co Ltd		1,288
	5,675		Toho Co Ltd		189
	20,000		Toho Gas Co Ltd		187
	103,015		Tohoku Electric Power Co, Inc		1,343
	167,864		Tokio Marine Holdings, Inc		6,438
	76,500	*	Tokyo Base Co Ltd		1,716
	442,268	*	Tokyo Electric Power Co, Inc		1,916
	7,816		Tokyo Electron Ltd		691
	983,924		Tokyo Gas Co Ltd		4,377
	26,100		Tokyo Tatemono Co Ltd		314
	489,852		Tokyu Corp		3,737
	26,200		Tokyu Fudosan Holdings Corp		142
	77		Tokyu REIT, Inc		103
	204,383		TonenGeneral Sekiyu KK		2,073
	76,000		Topcon Corp		1,086
	26,734		Toppan Printing Co Ltd		241
	327,664		Toray Industries, Inc		3,191
	203,554	*	Toshiba Corp		679
	900,000		Tosoh Corp		5,547
	7,242	e	Toto Ltd		274
	8,039		Toyo Seikan Kaisha Ltd		142
	4,499		Toyo Suisan Kaisha Ltd		191
	183,297		Toyoda Gosei Co Ltd		4,262
	8,293		Toyota Industries Corp		385
	1,534,300		Toyota Motor Corp		88,999
	10,894		Toyota Tsusho Corp		253
	5,528		Trend Micro, Inc		193
	5,100		Tsumura & Co		145

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,900		Tsuruha Holdings, Inc	$	220
	34,712	e	Uni-Charm Corp		901
	319		United Urban Investment Corp		580
	10,930		USS Co Ltd		185
	27,807		West Japan Railway Co		1,725
	349,800	e	W-Scope Corp		7,360
	317,138		Yahoo! Japan Corp		1,265
	4,404	e	Yakult Honsha Co Ltd		199
	30,631		Yamada Denki Co Ltd		152
	45,406	e	Yamaguchi Financial Group, Inc		484
	8,408		Yamaha Corp		272
	13,991		Yamaha Motor Co Ltd		283
	80,055		Yamato Transport Co Ltd		1,866
	6,753		Yamazaki Baking Co Ltd		166
	12,424		Yaskawa Electric Corp		186
	11,210	e	Yokogawa Electric Corp		149
	5,300		Yokohama Rubber Co Ltd		85
			TOTAL JAPAN		1,445,489
JERSEY, C.I. - 0.0%
	30,412		Randgold Resources Ltd		3,048
			TOTAL JERSEY, C.I.		3,048
JORDAN - 0.0%
	11,112		Hikma Pharmaceuticals plc		290
			TOTAL JORDAN		290
KOREA, REPUBLIC OF - 0.2%
	29,000		Hanssem Co Ltd		4,655
	128,225		Hyundai Motor Co		15,846
	65,784	*	Osstem Implant Co Ltd		3,658
	20,000		Samsung Fire & Marine Insurance Co Ltd		5,094
	90,000		Woongjin Coway Co Ltd		7,818
			TOTAL KOREA, REPUBLIC OF		37,071
LUXEMBOURG - 0.2%
	2,166,541	*	ArcelorMittal		13,212
	2,436,775		B&M European Value Retail S.A.		8,051
	5,054		Millicom International Cellular S.A.		262
	48,616		RTL Group		4,039
	27,121		SES Global S.A.		666
	36,110	e	Tenaris S.A.		514
			TOTAL LUXEMBOURG		26,744
MACAU - 0.0%
	50,992	e	MGM China Holdings Ltd		89
	74,983	e	Wynn Macau Ltd		125
			TOTAL MACAU		214
MALAYSIA - 0.1%
	8,333,325		Karex BHD		4,963
	1,266,980		Public Bank BHD		6,072

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,200,000		Tenaga Nasional BHD	$	4,149
	117,206	*	YNH Property BHD		46
			TOTAL MALAYSIA		15,230
MEXICO - 0.0%
	17,132		Fresnillo plc		402
	400,000		Gruma SAB de C.V.		5,259
			TOTAL MEXICO		5,661
NETHERLANDS - 2.5%
	1,792,054	g	ABN AMRO Group NV (ADR)		37,053
	139,915		Aegon NV		534
	218,291		Akzo Nobel NV		14,765
	28,230	*	Altice NV (Class A)		506
	8,862	*	Altice NV (Class B)		159
	666,220		ASML Holding NV		73,012
	44,600	e	ASML Holding NV (ADR)		4,887
	6,457		Boskalis Westminster		230
	13,509		DSM NV		912
	3,482		Eurocommercial Properties NV		157
	906,895	g	Euronext NV		38,696
	85,688	g	Flow Traders		2,603
	6,057		Gemalto NV		388
	7,419		Heineken Holding NV		594
	93,595		Heineken NV		8,227
	8,805,617		ING Groep NV		108,711
	1,088,742		Koninklijke Ahold Delhaize NV		24,797
	515,412		Koninklijke Philips Electronics NV		15,251
	5,449		Koninklijke Vopak NV		286
	24,010		NN Group NV		737
	108,807	*	NXP Semiconductors NV		11,099
	7,857	*,e	OCI NV		116
	8,867		Randstad Holdings NV		403
	1,024,997		Royal Dutch Shell plc (A Shares)		25,500
	2,184,749		Royal Dutch Shell plc (B Shares)		56,641
	855,284		Royal KPN NV		2,838
	1,014,797		Steinhoff International Holdings NV (GR)		5,835
	1,036,400	*	TomTom NV		9,916
	2,863		Wereldhave NV		145
	192,801		Wolters Kluwer NV		8,242
			TOTAL NETHERLANDS		453,240
NEW ZEALAND - 0.0%
	4,000,000		Air New Zealand Ltd		5,426
	46,032		Auckland International Airport Ltd		247
	34,329		Contact Energy Ltd		126
	32,439		Fletcher Building Ltd		254
	70,531		Kiwi Property Group Ltd		77
	59,746	*	Meridian Energy Ltd		113
	32,837		Mighty River Power Ltd		73
	17,794		Ryman Healthcare Ltd		125
	88,507		Telecom Corp of New Zealand Ltd		233
			TOTAL NEW ZEALAND		6,674

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
NORWAY - 0.4%
	1,532,425	*	Det Norske Oljeselskap ASA	$	24,446
	807,629		DNB NOR Holding ASA		10,618
	15,650		Gjensidige Forsikring BA		293
	101,775		Norsk Hydro ASA		440
	61,992		Orkla ASA		642
	28,896		PAN Fish ASA		518
	5,893		Schibsted ASA		174
	6,720		Schibsted ASA (B Shares)		180
	2,431,086		Statoil ASA		40,814
	112,552		Telenor ASA		1,935
	13,517		Yara International ASA		450
			TOTAL NORWAY		80,510
PHILIPPINES - 0.1%
	8,788,900	*	Melco Crown Philippines Resorts Corp		712
	5,300,354		Metropolitan Bank & Trust		9,340
	8,245,950		Robinsons Retail Holdings, Inc		12,792
			TOTAL PHILIPPINES		22,844
PORTUGAL - 0.1%
	178,405		Energias de Portugal S.A.		599
	523,501		Galp Energia SGPS S.A.		7,152
	666,695	e	Jeronimo Martins SGPS S.A.		11,555
			TOTAL PORTUGAL		19,306
RUSSIA - 0.2%
	2,358,517		Sberbank of Russian Federation (ADR)		22,140
	203,100	*	X 5 Retail Group NV (GDR)		5,890
			TOTAL RUSSIA		28,030
SINGAPORE - 0.5%
	183,945		Ascendas REIT		341
	329,149		Broadcom Ltd		56,785
	193,697	e	CapitaCommercial Trust		227
	768,106		CapitaLand Ltd		1,813
	536,417		CapitaMall Trust		855
	158,100		City Developments Ltd		1,057
	97,948		ComfortDelgro Corp Ltd		203
	649,538		DBS Group Holdings Ltd		7,370
	291,092		Genting Singapore plc		161
	126,295		Global Logistic Properties		174
	335,365	e	Golden Agri-Resources Ltd		88
	4,366		Jardine Cycle & Carriage Ltd		138
	349,468	e	Keppel Corp Ltd		1,391
	54,756	e	Keppel Infrastructure Trust		20
	78,567		K-REIT Asia		64
	509,370		Oversea-Chinese Banking Corp		3,246
	46,648	e	SembCorp Industries Ltd		89
	326,717	e	SembCorp Marine Ltd		315
	128,784		Singapore Airlines Ltd		995
	469,043		Singapore Exchange Ltd		2,558

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	445,025	e	Singapore Press Holdings Ltd	$	1,247
	407,607		Singapore Technologies Engineering Ltd		970
	2,846,691		Singapore Telecommunications Ltd		8,326
	28,730	e	StarHub Ltd		73
	113,700		Suntec Real Estate Investment Trust		143
	252,248		United Overseas Bank Ltd		3,500
	68,486		UOL Group Ltd		283
	90,762		Wilmar International Ltd		215
	41,600	e	Wing Tai Holdings Ltd		52
			TOTAL SINGAPORE		92,699
SOUTH AFRICA - 0.1%
	28,210	e	Al Noor Hospitals Group plc		338
	45,862		Investec plc		280
	568,185		Mondi plc		11,937
	46,800		Naspers Ltd (N Shares)		8,100
	90,000	e	Sasol Ltd		2,459
			TOTAL SOUTH AFRICA		23,114
SPAIN - 0.8%
	48,612		Abertis Infraestructuras S.A. (Continuous)		757
	80,000	e	Acciona S.A.		6,047
	14,849		ACS Actividades Construccion y Servicios S.A.		449
	5,097	g	Aena S.A.		752
	622,393		Amadeus IT Holding S.A.		31,066
	743,478		Banco Bilbao Vizcaya Argentaria S.A.		4,499
	395,861	e	Banco de Sabadell S.A.		507
	267,745		Banco Popular Espanol S.A.		331
	1,093,062		Banco Santander S.A.		4,849
	328,518		Bankia S.A.		270
	50,745		Bankinter S.A.		361
	234,414		CaixaBank S.A.		592
	80,491	e	Corp Mapfre S.A.		225
	947,888		Distribuidora Internacional de Alimentacion S.A.		5,870
	16,800		Enagas		505
	718,705		Endesa S.A.		15,409
	290,575		Ferrovial S.A.		6,187
	26,480		Gas Natural SDG S.A.		544
	300,000		Gestevision Telecinco S.A.		3,556
	22,459	e	Grifols S.A.		484
	2,832,982		Iberdrola S.A.		19,263
	504,497		Industria De Diseno Textil S.A.		18,706
	108,528	*,e,m	Let’s GOWEX S.A.		1
	32,752		Red Electrica Corp S.A.		707
	264,861		Repsol YPF S.A.		3,598
	235,400	e	Tecnicas Reunidas S.A.		9,184
	1,034,287		Telefonica S.A.		10,460
	13,789		Zardoya Otis S.A.		133
			TOTAL SPAIN		145,312
SWEDEN - 0.7%
	22,250		Alfa Laval AB		349
	350,954		Assa Abloy AB		7,127

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	50,872		Atlas Copco AB (A Shares)	$	1,531
	28,967		Atlas Copco AB (B Shares)		792
	30,897	e	Autoliv, Inc		3,300
	665,129		Boliden AB		15,634
	12,215		Castellum AB		183
	148,059		Electrolux AB (Series B)		3,708
	232,468		Ericsson (LM) (B Shares)		1,678
	13,081		Fabege AB		238
	15,528		Getinge AB (B Shares)		301
	144,641		Hennes & Mauritz AB (B Shares)		4,083
	304,389		Hexagon AB (B Shares)		13,293
	32,065		Husqvarna AB (B Shares)		280
	5,957	e	ICA Gruppen AB		197
	12,236		Industrivarden AB		226
	713,283	e	Intrum Justitia AB		23,004
	303,757		Investment AB Kinnevik (B Shares)		7,747
	34,123		Investor AB (B Shares)		1,248
	200,000		JM AB		5,467
	14,993		Kungsleden AB		110
	15,311	*	Lundin Petroleum AB		280
	200,000		NCC AB (B Shares)		5,241
	230,089		Nordea Bank AB		2,285
	80,708		Sandvik AB		888
	11,712	*,e	SAS AB		23
	23,076		Securitas AB (B Shares)		386
	355,523		Skandinaviska Enskilda Banken AB (Class A)		3,574
	25,255		Skanska AB (B Shares)		590
	29,946		SKF AB (B Shares)		517
	45,925		Svenska Cellulosa AB (B Shares)		1,363
	114,429		Svenska Handelsbanken AB		1,573
	226,953		Swedbank AB (A Shares)		5,333
	14,400		Swedish Match AB		528
	24,289		Tele2 AB		210
	369,249		TeliaSonera AB		1,654
	507,280		Volvo AB (B Shares)		5,792
			TOTAL SWEDEN		120,733
SWITZERLAND - 3.3%
	354,511		ABB Ltd		7,990
	72,211		Actelion Ltd		12,531
	308,290		Adecco S.A.		17,377
	6,714	e	Aryzta AG.		299
	55,814		Baloise Holding AG.		6,758
	163	e	Barry Callebaut AG.		217
	78,964	e	Cie Financiere Richemont S.A.		4,816
	13,943		Coca-Cola HBC AG.		324
	141,201		Credit Suisse Group		1,856
	3,369	*	Dufry Group		422
	6,365	e	EMS-Chemie Holding AG.		3,421
	36,000		Flughafen Zuerich AG.		7,038
	296		Galenica AG.		315
	2,859		Geberit AG.		1,253
	8,000		Georg Fischer AG.		7,013

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	693		Givaudan S.A.	$	1,413
	929,291	*	Glencore Xstrata plc		2,544
	34,217		Holcim Ltd		1,853
	16,807		Julius Baer Group Ltd		685
	8,000		Kaba Holding AG.		5,931
	3,973		Kuehne & Nagel International AG.		577
	75		Lindt & Spruengli AG.		434
	8		Lindt & Spruengli AG. (Registered)		546
	307,488		Lonza Group AG.		58,853
	1,795,661		Nestle S.A.		141,793
	1,753,709		Novartis AG.		138,403
	2,445		Pargesa Holding S.A.		167
	1,301		Partners Group		657
	4,026		Phonak Holding AG.		571
	3,493		PSP Swiss Property AG.		333
	303,291		Roche Holding AG.		75,367
	3,360		Schindler Holding AG.		631
	1,541		Schindler Holding AG. (Registered)		292
	415		SGS S.A.		930
	164		Sika AG.		799
	48,729	e	STMicroelectronics NV		398
	2,598	e	Swatch Group AG.		736
	2,461		Swatch Group AG. (Registered)		137
	2,440		Swiss Life Holding		633
	7,898		Swiss Prime Site AG.		694
	409,192		Swiss Re Ltd		36,958
	1,945		Swisscom AG.		925
	14,074		Syngenta AG.		6,164
	189,748		TE Connectivity Ltd		12,216
	1,383,524		UBS AG.		18,900
	364,001		Wolseley plc		20,472
	36,595		Zurich Financial Services AG.		9,438
			TOTAL SWITZERLAND		612,080
TAIWAN - 0.4%
	36,158,000		Advanced Semiconductor Engineering, Inc		43,424
	2,104,146		Hota Industrial Manufacturing Co Ltd		10,285
	60,000		Largan Precision Co Ltd		7,313
	2,300,000		Pegatron Technology Corp		5,952
			TOTAL TAIWAN		66,974
THAILAND - 0.0%
	3,000,000		Delta Electronics Thai PCL		6,880
			TOTAL THAILAND		6,880
UNITED ARAB EMIRATES - 0.0%
	84,424	*	Emaar Malls Group PJSC		62
	1,734,000		Emaar Properties PJSC		3,342
			TOTAL UNITED ARAB EMIRATES		3,404
UNITED KINGDOM - 6.6%
	74,303		3i Group plc		626
	67,979	e	Aberdeen Asset Management plc		287

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	15,929		Admiral Group plc	$	423
	19,989		Aggreko plc		246
	263,310	*	Aldermore Group plc		572
	1,895,409	*	Anglo American plc (London)		23,637
	2,045,120		Ashtead Group plc		33,610
	181,000	*	ASOS plc		11,390
	818,345		Associated British Foods plc		27,574
	381,906		AstraZeneca plc		24,729
	3,074,311	g	Auto Trader Group plc		16,162
	1,399,145		Aviva plc		7,984
	18,605		Babcock International Group		249
	238,320		BAE Systems plc		1,619
	12,396,430		Barclays plc		26,876
	75,317		Barratt Developments plc		482
	1,028,700		Beazley plc		5,153
	300,000		Bellway plc		9,200
	677,774	*	Belmond Ltd.		8,614
	69,952		Berkeley Group Holdings plc		2,337
	100,551		Big Yellow Group plc		1,014
	6,597,563		BP plc		38,455
	1,388,300		British American Tobacco plc		88,540
	179,371		British Land Co plc		1,469
	2,101,293		Britvic plc		16,429
	1,215,440		BT Group plc		6,115
	25,169		Bunzl plc		742
	34,043		Burberry Group plc		607
	49,785		Capita Group plc		431
	27,004	e	Capital & Counties Properties		101
	413,285		Centrica plc		1,222
	686,400		Cineworld Group plc		5,157
	78,027	e	CNH Industrial NV		559
	127,928		Cobham plc		278
	16,504	*	Coca-Cola European Partners plc		657
	500,534		Compass Group plc		9,694
	186,765		Croda International plc		8,428
	154,865	*,e	CYBG plc		533
	66,746		DCC plc		6,064
	402,487		Delphi Automotive plc		28,705
	18,336		Derwent London plc		618
	447,206		Diageo plc		12,810
	103,330		Direct Line Insurance Group plc		488
	192,702		easyJet plc		2,513
	899,804	e	Fevertree Drinks plc		11,292
	70,478		Fiat DaimlerChrysler Automobiles NV		448
	127,178		GKN plc		528
	5,209,316		GlaxoSmithKline plc		110,951
	94,367		Great Portland Estates plc		774
	116,607		Group 4 Securicor plc		344
	151,259		Hammerson plc		1,151
	19,648		Hargreaves Lansdown plc		324
	6,100,062		Hays plc		10,267
	1,834,534		HSBC Holdings plc		13,790
	420,000		HSBC Holdings plc (Hong Kong)		3,143

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	240,850		ICAP plc	$	1,450
	21,150		IMI plc		294
	212,800		Imperial Tobacco Group plc		10,953
	800,000		Inchcape plc		6,826
	34,452		Inmarsat plc		314
	14,104		InterContinental Hotels Group plc		581
	60,935		International Consolidated Airlines Group S.A.		316
	12,409		Intertek Group plc		560
	96,699	e	Intu Properties plc		371
	1,173,828		ITV plc		2,847
	126,230	e	J Sainsbury plc		402
	14,661		Johnson Matthey plc		625
	1,866,414	*	Just Eat plc		12,941
	170,695		Kingfisher plc		833
	132,121		Land Securities Group plc		1,811
	7,566,198		Legal & General Group plc		21,443
	144,837	*	Liberty Global plc		4,785
	161,524	*	Liberty Global plc (Class A)		5,521
	23,432	*	Liberty Global plc LiLAC (Class C)		657
	6,532,705		Lloyds TSB Group plc		4,615
	445,193		London Stock Exchange Group plc		16,133
	3,660,337		Man Group plc		5,332
	125,596		Marks & Spencer Group plc		539
	397,713		Meggitt plc		2,321
	51,981	g	Merlin Entertainments plc		296
	448,201		National Grid plc		6,330
	72,985		New Carphone Warehouse plc		349
	113,014		Next plc		6,995
	374,665		Old Mutual plc		982
	62,392		Pearson plc		610
	28,687		Pentair plc		1,843
	23,181		Persimmon plc		545
	20,373		Petrofac Ltd		236
	11,073		Provident Financial plc		435
	2,711,549		Prudential plc		48,067
	2,933,600	*	Purplebricks Group plc		5,019
	307,452		Reckitt Benckiser Group plc		28,945
	904,995		Reed Elsevier NV		16,187
	175,504		Reed Elsevier plc		3,328
	1,200,000		Regus plc		4,058
	227,462		Rightmove plc		12,446
	82,522		Rio Tinto Ltd		3,283
	480,867		Rio Tinto plc		15,982
	139,392		Rolls-Royce Group plc		1,300
	1,119,541	*	Royal Bank of Scotland Group plc		2,592
	766,680		Royal Mail plc		4,865
	78,118		RSA Insurance Group plc		552
	330,477		SABMiller plc		19,250
	53,856		Safestore Holdings plc		268
	81,855		Sage Group plc		782
	9,897		Schroders plc		346
	79,168		Scottish & Southern Energy plc		1,608
	168,464		Segro plc		990

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	17,925		Severn Trent plc	$	582
	19,588		Shaftesbury plc		246
	100,803	*,g	Shawbrook Group plc		312
	453,260		Shire Ltd		29,309
	2,725,581		Sky plc		31,590
	137,926		Smith & Nephew plc		2,225
	30,130	e	Smiths Group plc		572
	40,145		St. James’s Place plc		493
	603,592		Standard Chartered plc		4,912
	147,393		Standard Life plc		657
	34,808		Tate & Lyle plc		338
	4,155,637		Taylor Wimpey plc		8,289
	9,792,834	*	Tesco plc		23,194
	517,073		Travis Perkins plc		10,313
	544,948		Unilever NV		25,107
	823,406		Unilever plc		38,964
	51,798		United Utilities Group plc		673
	1,473,800		Vesuvius plc		6,692
	479,720		Virgin Money Holdings UK plc		1,935
	21,474,269		Vodafone Group plc		61,587
	16,161		Weir Group plc		356
	230,000		WH Smith plc		4,588
	229,241		Whitbread plc		11,634
	67,456		William Hill plc		266
	170,694		WM Morrison Supermarkets plc		482
	1,267,620	*,g	Worldpay Group plc		4,860
	2,262,609		WPP plc		53,184
			TOTAL UNITED KINGDOM		1,200,730
UNITED STATES - 58.8%
	460,759		3M Co		81,200
	11,484		A.O. Smith Corp		1,135
	191,200		Aaron’s, Inc		4,860
	2,144,401		Abbott Laboratories		90,687
	447,913		AbbVie, Inc		28,250
	27,878		Abercrombie & Fitch Co (Class A)		443
	230,118		Accenture plc		28,114
	114,988		Activision Blizzard, Inc		5,094
	9,940		Acuity Brands, Inc		2,630
	289,565	*	Adobe Systems, Inc		31,429
	24,516		Advance Auto Parts, Inc		3,656
	1,307,916	*	Advanced Micro Devices, Inc		9,038
	213,970		AES Corp		2,750
	246,720		Aetna Inc		28,484
	12,041	*	Affiliated Managers Group, Inc		1,742
	95,743		Aflac, Inc		6,881
	31,508		AGCO Corp		1,554
	212,001		Agilent Technologies, Inc		9,983
	133,384		Air Products & Chemicals, Inc		20,053
	1,773,350	*,e	AK Steel Holding Corp		8,565
	38,452	*	Akamai Technologies, Inc		2,038
	99,100		Alaska Air Group, Inc		6,527
	165,606		Albemarle Corp		14,158

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	223,262		Alcoa, Inc	$	2,264
	19,227		Alexandria Real Estate Equities, Inc		2,091
	335,403	*	Alexion Pharmaceuticals, Inc		41,100
	26,224	*	Alkermes plc		1,233
	7,083	*	Alleghany Corp		3,719
	16,000		Allegiant Travel Co		2,113
	341,833	*	Allergan plc		78,728
	17,011	*	Alliance Data Systems Corp		3,649
	91,242		Alliant Energy Corp		3,495
	66,012		Allied World Assurance Co Holdings Ltd		2,668
	194,840		Allstate Corp		13,479
	73,805		Ally Financial, Inc		1,437
	17,136	*,e	Alnylam Pharmaceuticals, Inc		1,161
	141,641	*	Alphabet, Inc (Class A)		113,888
	219,201	*	Alphabet, Inc (Class C)		170,383
	670,365		Altria Group, Inc		42,387
	247,987	*	Amazon.com, Inc		207,642
	112,924	*	AMC Networks, Inc		5,856
	120,000		Amdocs Ltd		6,942
	15,161		Amerco, Inc		4,916
	90,075		Ameren Corp		4,430
	25,389		American Airlines Group, Inc		929
	242,805		American Capital Agency Corp		4,744
	232,924		American Electric Power Co, Inc		14,956
	217,911		American Express Co		13,955
	120,000		American Financial Group, Inc		9,000
	864,954		American International Group, Inc		51,326
	103,599		American Tower Corp		11,741
	90,247		American Water Works Co, Inc		6,754
	149,238		Ameriprise Financial, Inc		14,889
	80,816		AmerisourceBergen Corp		6,528
	45,867		Ametek, Inc		2,192
	207,374		Amgen, Inc		34,592
	75,993		Amphenol Corp (Class A)		4,933
	378,450		Anadarko Petroleum Corp		23,979
	80,522		Analog Devices, Inc		5,190
	651,258		Annaly Capital Management, Inc		6,838
	32,736	*	Ansys, Inc		3,032
	36,877	*	Antero Resources Corp		994
	164,510		Anthem, Inc		20,615
	62,661		Aon plc		7,049
	262,556		Apache Corp		16,769
	33,256		Apartment Investment & Management Co (Class A)		1,527
	3,055,835		Apple, Inc		345,462
	832,871		Applied Materials, Inc		25,111
	51,993		ARAMARK Holdings Corp		1,977
	121,237		Archer Daniels Midland Co		5,113
	16,873	*	Arrow Electronics, Inc		1,079
	39,156		Arthur J. Gallagher & Co		1,992
	42,000	*	Asbury Automotive Group, Inc		2,338
	25,016		Ashland Global Holdings, Inc		2,901
	25,634		Assurant, Inc		2,365
	2,780,787		AT&T, Inc		112,928

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	17,281		Atmos Energy Corp	$	1,287
	34,333	*	Autodesk, Inc		2,483
	97,901		Automatic Data Processing, Inc		8,635
	30,731	*	Autonation, Inc		1,497
	26,326	*	AutoZone, Inc		20,227
	59,409		AvalonBay Communities, Inc		10,565
	89,794		Avery Dennison Corp		6,985
	30,576		Avnet, Inc		1,255
	35,628	*	Axalta Coating Systems Ltd		1,007
	166,643		Axis Capital Holdings Ltd		9,054
	458,323		Baker Hughes, Inc		23,132
	120,176		Ball Corp		9,848
	6,093,125		Bank of America Corp		95,357
	731,571		Bank of New York Mellon Corp		29,175
	31,242		Bard (C.R.), Inc		7,007
	982,671		Baxter International, Inc		46,775
	199,855		BB&T Corp		7,539
	28,536		BE Aerospace, Inc		1,474
	73,000		Becton Dickinson & Co		13,120
	95,468		Bed Bath & Beyond, Inc		4,116
	38,549		Bemis Co, Inc		1,966
	629,097	*	Berkshire Hathaway, Inc (Class B)		90,886
	841,637	*	Berry Plastics Group, Inc		36,906
	363,885		Best Buy Co, Inc		13,893
	90,468	*	Biogen Idec, Inc		28,319
	121,831	*	BioMarin Pharmaceutical, Inc		11,272
	36,617		BlackRock, Inc		13,272
	133,803		Boeing Co		17,627
	42,387		BorgWarner, Inc		1,491
	67,804		Boston Properties, Inc		9,241
	608,664	*	Boston Scientific Corp		14,486
	90,000	e	Brinker International, Inc		4,539
	462,958		Bristol-Myers Squibb Co		24,963
	60,587		Brixmor Property Group, Inc		1,684
	19,527		Broadridge Financial Solutions, Inc		1,324
	660,000		Brocade Communications Systems, Inc		6,092
	1,858		Brookfield Property Partners LP (Toronto)		42
	71,781		Brown-Forman Corp (Class B)		3,405
	76,532		Bunge Ltd		4,533
	64,158		CA, Inc		2,122
	208,125		Cabot Oil & Gas Corp		5,370
	97,000	*	CACI International, Inc (Class A)		9,787
	51,256	*	Cadence Design Systems, Inc		1,309
	673,956	*	Callon Petroleum Co		10,581
	110,332	*	Calpine Corp		1,395
	43,813		Camden Property Trust		3,669
	78,392		Campbell Soup Co		4,288
	198,099		Capital One Financial Corp		14,229
	188,300		Cardinal Health, Inc		14,631
	86,702	*,e	Carmax, Inc		4,626
	104,213		Carnival Corp		5,088
	114,428		Carnival plc		5,583
	50,000		Carter’s, Inc		4,336

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	410,505		Caterpillar, Inc	$	36,441
	214,623	*	CBRE Group, Inc		6,005
	330,373		CBS Corp (Class B)		18,085
	22,191		CDK Global, Inc		1,273
	262,539		CDW Corp		12,006
	30,187		Celanese Corp (Series A)		2,009
	254,742	*	Celgene Corp		26,628
	146,977	*	Centene Corp		9,842
	198,856		Centerpoint Energy, Inc		4,619
	181,573		CenturyTel, Inc		4,981
	97,138	*	Cerner Corp		5,998
	263,098		CF Industries Holdings, Inc		6,406
	64,279		CH Robinson Worldwide, Inc		4,529
	200,898		Charles Schwab Corp		6,342
	74,511	*	Charter Communications, Inc		20,116
	40,000		Chemed Corp		5,643
	51,523	*	Cheniere Energy, Inc		2,246
	859,890		Chevron Corp		88,500
	10,795	*,e	Chipotle Mexican Grill, Inc (Class A)		4,572
	673,220		Chubb Ltd		84,590
	117,313		Church & Dwight Co, Inc		5,622
	1,008,453	*	Ciena Corp		21,984
	371,950		Cigna Corp		48,473
	43,365		Cimarex Energy Co		5,827
	55,660		Cincinnati Financial Corp		4,198
	37,064		Cintas Corp		4,173
	4,602,246		Cisco Systems, Inc		145,983
	308,818		CIT Group, Inc		11,210
	838,764		Citigroup, Inc		39,615
	409,939		Citizens Financial Group, Inc		10,130
	73,027	*	Citrix Systems, Inc		6,223
	62,509		Clorox Co		7,825
	95,006		CME Group, Inc		9,930
	225,742		CMS Energy Corp		9,483
	119,439		Coach, Inc		4,367
	1,149,319		Coca-Cola Co		48,639
	128,008	*	Cognizant Technology Solutions Corp (Class A)		6,107
	195,823		Colgate-Palmolive Co		14,518
	2,520,716		Comcast Corp (Class A)		167,224
	206,279		Comerica, Inc		9,761
	200,000	*	CommScope Holding Co, Inc		6,022
	75,000		Computer Sciences Corp		3,916
	1,674,564		ConAgra Foods, Inc		78,889
	690,932	*	Concho Resources, Inc		94,899
	218,058		ConocoPhillips		9,479
	300,000		Conseco, Inc		4,581
	131,020		Consolidated Edison, Inc		9,866
	59,011		Constellation Brands, Inc (Class A)		9,825
	218,406	*,e	Continental Resources, Inc		11,348
	22,177		Cooper Cos, Inc		3,975
	34,075	e	Core Laboratories NV		3,828
	185,748		Corning, Inc		4,393
	209,763		Costco Wholesale Corp		31,991

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	22,500	*,e	Credit Acceptance Corp	$	4,524
	115,178		Crown Castle International Corp		10,851
	223,943	*	Crown Holdings, Inc		12,785
	120,000		CSRA, Inc		3,228
	430,365		CSX Corp		13,126
	27,058		CubeSmart		738
	28,862		Cummins, Inc		3,699
	524,420		CVS Health Corp		46,668
	16,843		CyrusOne, Inc		801
	338,872		Danaher Corp		26,564
	64,257		Darden Restaurants, Inc		3,940
	160,103	*	DaVita, Inc		10,578
	40,574		DDR Corp		707
	87,874	e	Deere & Co		7,500
	99,615	*	Dell Technologies, Inc-VMware Inc		4,762
	234,930		Delta Air Lines, Inc		9,247
	110,000		Deluxe Corp		7,350
	63,577		DENTSPLY SIRONA, Inc		3,778
	80,185		Devon Energy Corp		3,537
	61,675	*	Diamondback Energy, Inc		5,954
	35,311		DiamondRock Hospitality Co		321
	56,774		Dick’s Sporting Goods, Inc		3,220
	55,855		Digital Realty Trust, Inc		5,425
	91,528		Discover Financial Services		5,176
	68,710	*,e	Discovery Communications, Inc (Class A)		1,850
	85,301	*	Discovery Communications, Inc (Class C)		2,244
	80,778	*	DISH Network Corp (Class A)		4,425
	143,659		Dollar General Corp		10,055
	76,482	*	Dollar Tree, Inc		6,037
	160,058		Dominion Resources, Inc		11,888
	8,429		Domino’s Pizza, Inc		1,280
	343,848		Dover Corp		25,321
	953,209		Dow Chemical Co		49,405
	88,627		DR Horton, Inc		2,677
	62,935		Dr Pepper Snapple Group, Inc		5,747
	41,200		DST Systems, Inc		4,858
	149,778		DTE Energy Co		14,030
	180,371		Duke Energy Corp		14,437
	121,338		Duke Realty Corp		3,316
	15,451		Dun & Bradstreet Corp		2,111
	44,348	*	Dynegy, Inc		549
	833,859	*	E*TRADE Financial Corp		24,282
	28,367		Eastman Chemical Co		1,920
	83,929		Eaton Corp		5,515
	28,160		Eaton Vance Corp		1,100
	628,230	*	eBay, Inc		20,669
	301,185		Ecolab, Inc		36,660
	21,837	*	Edgewell Personal Care Co		1,736
	105,387		Edison International		7,614
	10,372		Education Realty Trust, Inc		447
	79,774	*	Edwards Lifesciences Corp		9,618
	161,524		EI du Pont de Nemours & Co		10,817
	164,912	*	Electronic Arts, Inc		14,083

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	714,966		Eli Lilly & Co	$	57,383
	126,102		Emerson Electric Co		6,874
	53,570	*	Endo International plc		1,079
	109,502		Entergy Corp		8,402
	49,872	*	Envision Healthcare Holdings, Inc		1,111
	1,037,219		EOG Resources, Inc		100,309
	51,220		EQT Corp		3,720
	42,041		Equifax, Inc		5,658
	12,970		Equinix, Inc		4,672
	13,395		Equity Lifestyle Properties, Inc		1,034
	147,311		Equity Residential		9,477
	36,819		Essex Property Trust, Inc		8,200
	365,708		Estee Lauder Cos (Class A)		32,387
	120,000	*	Euronet Worldwide, Inc		9,820
	22,607		Everest Re Group Ltd		4,295
	68,053		Eversource Energy		3,687
	334,457		Exelon Corp		11,134
	119,604		Expedia, Inc		13,960
	50,225		Expeditors International of Washington, Inc		2,588
	566,860	*	Express Scripts Holding Co		39,981
	41,305		Extra Space Storage, Inc		3,280
	1,653,881	d	Exxon Mobil Corp		144,351
	56,776	*	F5 Networks, Inc		7,077
	1,165,811	*	Facebook, Inc		149,539
	67,116		Fastenal Co		2,804
	38,959		Federal Realty Investment Trust		5,997
	115,366		FedEx Corp		20,152
	78,094		Fidelity National Information Services, Inc		6,016
	234,857		Fifth Third Bancorp		4,805
	128,213	*	Finisar Corp		3,821
	135,500	*	First American Corp		5,314
	49,003		First Republic Bank		3,779
	144,995		FirstEnergy Corp		4,796
	57,645	*	Fiserv, Inc		5,734
	15,946	*	FleetCor Technologies, Inc		2,770
	1,056,502	*	Flextronics International Ltd		14,390
	63,375		Flir Systems, Inc		1,991
	23,342		Flowserve Corp		1,126
	25,263		Fluor Corp		1,296
	89,260		FMC Corp		4,315
	70,648	*	FMC Technologies, Inc		2,096
	41,149		FNF Group		1,519
	166,291		Foot Locker, Inc		11,261
	636,002		Ford Motor Co		7,677
	20,678		Forest City Realty Trust, Inc		478
	40,087	*	Fortinet, Inc		1,480
	142,362		Fortive Corp		7,246
	35,190		Fortune Brands Home & Security, Inc		2,045
	14,272		Four Corners Property Trust, Inc		304
	66,191		Franklin Resources, Inc		2,354
	197,724		Freeport-McMoRan Copper & Gold, Inc (Class B)		2,147
	693,092	e	Frontier Communications Corp		2,883
	607,235		Gaming and Leisure Properties, Inc		20,312

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	75,428	e	Gap, Inc	$	1,678
	45,439	e	Garmin Ltd		2,186
	18,563	*	Gartner, Inc		1,642
	115,306		General Dynamics Corp		17,891
	3,479,621	n	General Electric Co		103,066
	251,278		General Growth Properties, Inc		6,935
	170,644		General Mills, Inc		10,901
	61,921,000	*,e,m	General Motors Co		0
	13,592,224	*,m	General Motors Co		0
	69,850,000	*,m	General Motors Co		0
	4,461,000	*,m	General Motors Co		0
	530,757	*,m	General Motors Co		0
	19,417,463	*,m	General Motors Co		0
	242,003		General Motors Co		7,688
	18,159,000	*,m	General Motors Co		0
	29,845,445	*,m	General Motors Co		0
	26,439,985	*,m	General Motors Co		0
	18,106,794	*	General Motors Co		0
	34,892		Genuine Parts Co		3,505
	530,726		Gilead Sciences, Inc		41,991
	273,221		Global Payments, Inc		20,972
	341,202		Goldman Sachs Group, Inc		55,026
	312,624		Goodyear Tire & Rubber Co		10,098
	225,000	*	GoPro, Inc		3,753
	2,396,988		Gramercy Property Trust		23,107
	264,863		Graphic Packaging Holding Co		3,705
	56,352	*,e	GrubHub, Inc		2,423
	66,621		H&R Block, Inc		1,542
	192,720		Halliburton Co		8,649
	130,879		Hanesbrands, Inc		3,305
	54,170		Harley-Davidson, Inc		2,849
	16,143		Harman International Industries, Inc		1,363
	32,454		Harris Corp		2,973
	112,823		Hartford Financial Services Group, Inc		4,831
	48,283		Hasbro, Inc		3,830
	221,704	*	HCA Holdings, Inc		16,767
	340,255		HCP, Inc		12,913
	170,000	e	Healthsouth Corp		6,897
	24,010	e	Helmerich & Payne, Inc		1,616
	31,747	*	Henry Schein, Inc		5,174
	180,000		Herman Miller, Inc		5,148
	61,149		Hershey Co		5,846
	48,863		Hess Corp		2,620
	586,179		Hewlett Packard Enterprise Co		13,336
	131,540	*	Hilltop Holdings, Inc		2,954
	279,990		Hilton Worldwide Holdings, Inc		6,420
	53,834		HollyFrontier Corp		1,319
	349,634	*	Hologic, Inc		13,576
	615,403		Home Depot, Inc		79,190
	533,226		Honeywell International, Inc		62,169
	92,089		Hormel Foods Corp		3,493
	236,571		Host Marriott Corp		3,683

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	292,725		HP, Inc	$	4,546
	26,916		Hudson Pacific Properties		885
	69,341		Humana, Inc		12,266
	1,343,452		Huntington Bancshares, Inc		13,246
	60,000		Huntington Ingalls		9,205
	30,000		IAC/InterActiveCorp		1,874
	60,000		Icahn Enterprises LP		3,033
	14,259	*	Idexx Laboratories, Inc		1,607
	123,801	*	IHS Markit Ltd		4,649
	65,445		Illinois Tool Works, Inc		7,843
	27,924	*	Illumina, Inc		5,073
	255,143	*	Imax Corp		7,391
	27,721	*	IMS Health Holdings, Inc		869
	43,093	*	Incyte Corp		4,063
	296,610		Ingersoll-Rand plc		20,152
	57,085		Ingredion, Inc		7,596
	1,273,832		Intel Corp		48,087
	46,112		IntercontinentalExchange Group, Inc		12,421
	173,309		International Business Machines Corp		27,530
	29,877		International Flavors & Fragrances, Inc		4,272
	97,180		International Paper Co		4,663
	776,295		Interpublic Group of Cos, Inc		17,350
	39,782		Intuit, Inc		4,376
	20,881	*	Intuitive Surgical, Inc		15,135
	71,187		Invesco Ltd		2,226
	147,899		Investors Bancorp, Inc		1,776
	7,456		Iron Mountain, Inc		279
	56,374		Iron Mountain, Inc		2,116
	114,796	e	iShares MSCI Canada Index Fund		2,949
	519,487	e	iShares MSCI EAFE Index Fund		30,717
	140,000		ITT, Inc		5,018
	36,841		J.B. Hunt Transport Services, Inc		2,989
	44,441		J.M. Smucker Co		6,024
	29,893	*	Jacobs Engineering Group, Inc		1,546
	19,411	*	Jazz Pharmaceuticals plc		2,358
	1,539,358		Johnson & Johnson		181,844
	157,804		Johnson Controls International plc		7,343
	47,549		Jones Lang LaSalle, Inc		5,411
	1,752,022		JPMorgan Chase & Co		116,667
	340,413		Juniper Networks, Inc		8,190
	89,430		Kansas City Southern Industries, Inc		8,346
	168,513		Kellogg Co		13,055
	50,802		Kennametal, Inc		1,474
	14,227		Kennedy-Wilson Holdings, Inc		321
	286,495		Keycorp		3,487
	13,432		Kilroy Realty Corp		932
	118,802		Kimberly-Clark Corp		14,986
	123,657		Kimco Realty Corp		3,580
	530,168		Kinder Morgan, Inc		12,263
	77,467		Kla-Tencor Corp		5,400
	152,815		Kohl’s Corp		6,686
	130,000		Korn/Ferry International		2,730
	339,184		Kraft Heinz Co		30,360

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	500,671		Kroger Co	$	14,860
	75,415		L Brands, Inc		5,337
	39,136		L-3 Communications Holdings, Inc		5,899
	51,833	*	Laboratory Corp of America Holdings		7,126
	239,222		Lam Research Corp		22,657
	147,827		Las Vegas Sands Corp		8,506
	109,050		Lear Corp		13,219
	50,245		Leggett & Platt, Inc		2,290
	228		Leidos Holdings, Inc		10
	37,012		Lennar Corp (Class A)		1,567
	76,536		Leucadia National Corp		1,457
	95,185	*	Level 3 Communications, Inc		4,415
	288	*,e	Liberty Braves Group (Class A)		5
	17,988	*	Liberty Broadband Corp (Class C)		1,286
	91,772	*	Liberty Interactive Corp		1,836
	82,170		Liberty Property Trust		3,316
	61,191	*	Liberty SiriusXM Group (Class A)		2,079
	33,964	*	Liberty SiriusXM Group (Class C)		1,135
	141,930		Lincoln National Corp		6,668
	72,746		Linear Technology Corp		4,313
	22,565	*	LinkedIn Corp		4,313
	84,094	*	LKQ Corp		2,982
	55,348		Lockheed Martin Corp		13,268
	98,808		Loews Corp		4,066
	425,163	*	Louisiana-Pacific Corp		8,006
	915,774		Lowe’s Companies, Inc		66,128
	107,055	*,e	Lululemon Athletica, Inc		6,528
	87,058	*	Lumentum Holdings, Inc		3,636
	89,876		LyondellBasell Industries AF S.C.A		7,249
	65,790		M&T Bank Corp		7,638
	51,487		Macerich Co		4,164
	537,014		Macy’s, Inc		19,896
	19,076	*	Mallinckrodt plc		1,331
	80,321		Manpower, Inc		5,804
	165,479		Marathon Oil Corp		2,616
	89,941		Marathon Petroleum Corp		3,651
	6,240	*	Markel Corp		5,796
	73,873	e	Marriott International, Inc (Class A)		4,974
	257,036		Marsh & McLennan Cos, Inc		17,286
	14,943		Martin Marietta Materials, Inc		2,676
	205,843		Masco Corp		7,062
	497,006		MasterCard, Inc (Class A)		50,580
	149,199	*	Matador Resources Co		3,632
	1,479,690		Mattel, Inc		44,805
	84,460		Maxim Integrated Products, Inc		3,372
	52,404		McCormick & Co, Inc		5,236
	557,696		McDonald’s Corp		64,336
	145,791		McKesson Corp		24,311
	679		MDC Holdings, Inc		18
	71,325		Mead Johnson Nutrition Co		5,635
	61,386	*	MEDNAX, Inc		4,067
	376,976		Medtronic plc		32,571
	190,000		Mentor Graphics Corp		5,024

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	929,666		Merck & Co, Inc	$	58,020
	1,064,562	*,e	Merrimack Pharmaceuticals, Inc		6,760
	396,746		Metlife, Inc		17,627
	9,531	*	Mettler-Toledo International, Inc		4,001
	773,069		MGM Growth Properties LLC		20,154
	2,494,420	*	MGM Resorts International		64,930
	71,569	*	Michael Kors Holdings Ltd		3,349
	200,000	*	Michaels Cos, Inc		4,834
	46,010	e	Microchip Technology, Inc		2,859
	400,676	*	Micron Technology, Inc		7,124
	120,000	*	Microsemi Corp		5,038
	3,691,390		Microsoft Corp		212,624
	12,759		Mid-America Apartment Communities, Inc		1,199
	120,397	*,e	Mobileye NV		5,125
	67,222	*	Mohawk Industries, Inc		13,467
	232,918		Molson Coors Brewing Co (Class B)		25,574
	1,365,625		Mondelez International, Inc		59,951
	28,583		Monogram Residential Trust, Inc		304
	291,521		Monsanto Co		29,793
	136,817	*	Monster Beverage Corp		20,086
	34,736		Moody’s Corp		3,761
	425,086		Morgan Stanley		13,628
	87,748		Mosaic Co		2,146
	67,728		Motorola, Inc		5,166
	14,481		MSCI, Inc (Class A)		1,216
	48,973	e	Murphy Oil Corp		1,489
	75,612	*	Mylan NV		2,882
	44,061		NASDAQ OMX Group, Inc		2,976
	115,842		National Oilwell Varco, Inc		4,256
	56,318		Navient Corp		815
	162,595		NetApp, Inc		5,824
	72,157	*	NetFlix, Inc		7,111
	9,897	*	NetSuite, Inc		1,096
	262,688		New York Community Bancorp, Inc		3,738
	318,728		Newell Rubbermaid, Inc		16,784
	261,622	*	Newfield Exploration Co		11,370
	11,092		NewMarket Corp		4,762
	681,355		Newmont Mining Corp		26,770
	73,241		News Corp		1,024
	247,014		NextEra Energy, Inc		30,215
	60,580		Nielsen NV		3,245
	491,388		Nike, Inc (Class B)		25,872
	52,967		NiSource, Inc		1,277
	81,171		Noble Energy, Inc		2,901
	419,035	e	Nordstrom, Inc		21,740
	76,386		Norfolk Southern Corp		7,414
	57,916		Northern Trust Corp		3,938
	215,218		Northrop Grumman Corp		46,046
	44,114	*	Norwegian Cruise Line Holdings Ltd		1,663
	105,075		NRG Energy, Inc		1,178
	152,502	*	Nuance Communications, Inc		2,211
	70,561		Nucor Corp		3,489
	247,783		Nvidia Corp		16,978

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	9,945	*	NVR, Inc	$	16,309
	364,785		Occidental Petroleum Corp		26,600
	91,844		OGE Energy Corp		2,904
	270,059		Olin Corp		5,542
	58,337		Omnicom Group, Inc		4,959
	60,793		Oneok, Inc		3,124
	2,130,994		Oracle Corp		83,705
	20,262	*	O’Reilly Automotive, Inc		5,676
	565,883		Owens Corning, Inc		30,212
	60,721		Paccar, Inc		3,569
	19,423		Packaging Corp of America		1,578
	94,153	*	Palo Alto Networks, Inc		15,001
	90,000	*	Parexel International Corp		6,251
	65,954		Parker Hannifin Corp		8,279
	517,340	*	Parsley Energy, Inc		17,336
	60,922	e	Patterson Cos, Inc		2,799
	97,864		Paychex, Inc		5,663
	652,849	*	PayPal Holdings, Inc		26,747
	223,492		People’s United Financial, Inc		3,536
	710,535		PepsiCo, Inc		77,285
	33,608		Perrigo Co plc		3,103
	2,289,929		Pfizer, Inc		77,560
	725,138		PG&E Corp		44,357
	1,033,179		Philip Morris International, Inc		100,446
	80,988		Phillips 66		6,524
	31,751		Phillips-Van Heusen Corp		3,508
	400,000		Pilgrim’s Pride Corp		8,448
	260,425		Pinnacle Foods, Inc		13,066
	59,929		Pinnacle West Capital Corp		4,554
	167,758		Pioneer Natural Resources Co		31,144
	210,000		Plains All American Pipeline LP		6,596
	445,606		Plains GP Holdings LP		5,766
	178,175		PNC Financial Services Group, Inc		16,052
	24,256	e	Polaris Industries, Inc		1,878
	8,549		Post Properties, Inc		565
	146,147		PPG Industries, Inc		15,106
	206,301		PPL Corp		7,132
	75,000	*,e	PRA Group, Inc		2,591
	91,384		Praxair, Inc		11,042
	14,871	*	Priceline.com, Inc		21,883
	50,579		Principal Financial Group		2,605
	1,315,725		Procter & Gamble Co		118,086
	182,066		Progressive Corp		5,735
	184,823		Prologis, Inc		9,895
	89,999		Prudential Financial, Inc		7,348
	177,853		Public Service Enterprise Group, Inc		7,447
	53,222		Public Storage, Inc		11,876
	372,009		Pulte Homes, Inc		7,455
	17,053	*	Qiagen NV		470
	21,508	*	Qorvo, Inc		1,199
	412,665		Qualcomm, Inc		28,268
	104,459		Quest Diagnostics, Inc		8,840
	25,627	*	Quintiles Transnational Holdings, Inc		2,077

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	20,830		Ralph Lauren Corp	$	2,107
	140,231		Range Resources Corp		5,434
	28,339		Raymond James Financial, Inc		1,650
	409,447		Raytheon Co		55,738
	56,197		Realogy Holdings Corp		1,453
	99,578		Realty Income Corp		6,665
	32,850	*	Red Hat, Inc		2,655
	44,916		Regency Centers Corp		3,481
	14,110	*	Regeneron Pharmaceuticals, Inc		5,673
	342,711		Regions Financial Corp		3,383
	60,000		Reinsurance Group of America, Inc (Class A)		6,476
	128,155		Republic Services, Inc		6,465
	48,915		Resmed, Inc		3,169
	20,736		Retail Opportunities Investment Corp		455
	82,874		Rexford Industrial Realty, Inc		1,897
	221,520		Reynolds American, Inc		10,445
	257,774	*	Rice Energy, Inc		6,730
	213,928	*	Rite Aid Corp		1,645
	45,842		Robert Half International, Inc		1,736
	25,874		Rockwell Automation, Inc		3,165
	41,134		Rockwell Collins, Inc		3,469
	86,957		Roper Industries, Inc		15,867
	126,553		Ross Stores, Inc		8,137
	74,335	e	Royal Caribbean Cruises Ltd		5,571
	534,279	*	RSP Permian, Inc		20,719
	50,086		S&P Global, Inc		6,339
	33,887		Sabre Corp		955
	167,768	*	Salesforce.com, Inc		11,967
	200,000	*	Sanmina Corp		5,694
	61,924	*	SBA Communications Corp (Class A)		6,945
	62,626		SCANA Corp		4,532
	723,291		Schlumberger Ltd		56,880
	30,000		Scotts Miracle-Gro Co (Class A)		2,498
	40,491		Scripps Networks Interactive (Class A)		2,571
	50,618		Seagate Technology, Inc		1,951
	141,535		Sealed Air Corp		6,485
	56,144		SEI Investments Co		2,561
	166,973		Sempra Energy		17,898
	51,168	*	Sensata Technologies Holding BV		1,984
	146,100	*	ServiceMaster Global Holdings, Inc		4,921
	337,031	*	ServiceNow, Inc		26,676
	20,163		Sherwin-Williams Co		5,578
	19,905	*	Signature Bank		2,358
	30,098		Signet Jewelers Ltd		2,243
	124,414		Simon Property Group, Inc		25,755
	544,749	*,e	Sirius XM Holdings, Inc		2,272
	75,900	*	Skechers U.S.A., Inc (Class A)		1,738
	32,912		Skyworks Solutions, Inc		2,506
	50,712		SL Green Realty Corp		5,482
	17,910		Snap-On, Inc		2,722
	273,394		Southern Co		14,025
	330,840		Southwest Airlines Co		12,866
	231,818	*	Southwestern Energy Co		3,208

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	173,795		Spectra Energy Corp	$	7,430
	128,400	*	Spirit Aerosystems Holdings, Inc (Class A)		5,719
	1,769,280		Spirit Realty Capital, Inc		23,585
	22,077	*	Splunk, Inc		1,295
	302,806	*,e	Sprint Corp		2,008
	91,469		St. Jude Medical, Inc		7,296
	124,735		Stanley Works		15,340
	422,806		Staples, Inc		3,615
	577,117		Starbucks Corp		31,245
	145,000	*	Starz-Liberty Capital		4,523
	100,003		State Street Corp		6,963
	45,020	*	Stericycle, Inc		3,608
	98,213		Stryker Corp		11,433
	6,859		Sun Communities, Inc		538
	41,217		Sunstone Hotel Investors, Inc		527
	615,224		SunTrust Banks, Inc		26,947
	749,956		Symantec Corp		18,824
	430,777		Synchrony Financial		12,062
	71,727	*	Synopsys, Inc		4,257
	157,429		Sysco Corp		7,716
	49,748		T Rowe Price Group, Inc		3,308
	987,228		Target Corp		67,803
	1,175	*,e	Taro Pharmaceutical Industries Ltd		130
	84,923		TCF Financial Corp		1,232
	53,612		TD Ameritrade Holding Corp		1,889
	35,473		TEGNA, Inc		775
	77,712		Terex Corp		1,975
	80,779	*,e	Tesla Motors, Inc		16,481
	26,628		Tesoro Corp		2,119
	180,883		Texas Instruments, Inc		12,694
	281,101		Textron, Inc		11,174
	134,799		Thermo Electron Corp		21,441
	48,402		Thomson Corp (Toronto)		2,001
	26,091	e	Tiffany & Co		1,895
	664,856		Time Warner, Inc		52,929
	263,048		TJX Companies, Inc		19,671
	259,450	*	T-Mobile US, Inc		12,122
	35,906	*	Toll Brothers, Inc		1,072
	54,176		Torchmark Corp		3,461
	75,353		Total System Services, Inc		3,553
	24,422		Tractor Supply Co		1,645
	22,508	*	TransDigm Group, Inc		6,508
	99,488		Travelers Cos, Inc		11,396
	59,743	*	Trimble Navigation Ltd		1,706
	87,536		Trinseo S.A.		4,951
	21,232	*	TripAdvisor, Inc		1,341
	235,251		Twenty-First Century Fox, Inc		5,698
	107,011		Twenty-First Century Fox, Inc (Class B)		2,647
	140,217	*,e	Twitter, Inc		3,232
	93,988		Tyson Foods, Inc (Class A)		7,018
	121,469		UDR, Inc		4,372
	29,018		UGI Corp		1,313
	31,422	*	Ulta Salon Cosmetics & Fragrance, Inc		7,478

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	53,571	*	Under Armour, Inc	$	1,814
	53,101	*,e	Under Armour, Inc (Class A)		2,054
	845,280		Union Pacific Corp		82,440
	94,765	*	United Continental Holdings, Inc		4,972
	565,599		United Parcel Service, Inc (Class B)		61,854
	183,285	*	United Rentals, Inc		14,386
	152,532		United Technologies Corp		15,497
	44,700	*,e	United Therapeutics Corp		5,278
	626,061		UnitedHealth Group, Inc		87,649
	39,096		Universal Health Services, Inc (Class B)		4,817
	64,517		UnumProvident Corp		2,278
	287,152		US Bancorp		12,316
	67,512	*	US Foods Holding Corp		1,594
	143,394	*	USG Corp		3,707
	91,273	*	Valeant Pharmaceuticals International, Inc		2,239
	85,593		Valero Energy Corp		4,536
	112,182		Validus Holdings Ltd		5,589
	11,805		Valspar Corp		1,252
	50,000	e	Vanguard FTSE Developed Markets ETF		1,871
	86,028	*	Vantiv, Inc		4,841
	42,966	*	Varian Medical Systems, Inc		4,276
	162,750		Ventas, Inc		11,495
	159,423		VEREIT, Inc		1,653
	90,000	*	Verint Systems, Inc		3,387
	30,947	*,e	VeriSign, Inc		2,421
	55,095	*	Verisk Analytics, Inc		4,478
	1,222,382		Verizon Communications, Inc		63,539
	158,269	*	Vertex Pharmaceuticals, Inc		13,803
	117,330		VF Corp		6,576
	299,443		Viacom, Inc (Class B)		11,409
	1,375,816		Visa, Inc (Class A)		113,780
	75,000		Visteon Corp		5,375
	120,603	*,e	VMware, Inc (Class A)		8,846
	65,311		Vornado Realty Trust		6,610
	34,437		Voya Financial, Inc		992
	26,765		Vulcan Materials Co		3,044
	118,316		W.R. Berkley Corp		6,834
	17,494	e	W.W. Grainger, Inc		3,933
	128,598	*	WABCO Holdings, Inc		14,600
	425,092		Walgreens Boots Alliance, Inc		34,271
	760,109		Wal-Mart Stores, Inc		54,819
	574,023		Walt Disney Co		53,304
	141,163		Waste Management, Inc		9,001
	27,027	*	Waters Corp		4,284
	147,273	*,e	Weatherford International Ltd		828
	112,534		WEC Energy Group, Inc		6,739
	3,290,679		Wells Fargo & Co		145,711
	79,703		Welltower, Inc		5,959
	22,269		Westar Energy, Inc		1,264
	51,525		Western Digital Corp		3,013
	128,175		Western Union Co		2,669
	20,076	e	Westinghouse Air Brake Technologies Corp		1,639
	75,415		Westlake Chemical Corp		4,035

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

							VALUE
SHARES			COMPANY				(000)
	77,714		WestRock Co				$	3,768
	216,536		Weyerhaeuser Co					6,916
	12,986		Whirlpool Corp					2,106
	38,535	*	WhiteWave Foods Co (Class A)					2,097
	114,450	e	Whole Foods Market, Inc					3,245
	1,068,427		Williams Cos, Inc					32,833
	22,017		Willis Towers Watson plc					2,923
	26,651	*	Workday, Inc					2,444
	259,844	*	WPX Energy, Inc					3,427
	163,868		WR Grace & Co					12,093
	36,341		Wyndham Worldwide Corp					2,447
	19,627	e	Wynn Resorts Ltd					1,912
	1,126,082		Xcel Energy, Inc					46,327
	1,199,036		Xerox Corp					12,146
	117,141		Xilinx, Inc					6,365
	97,769		Xylem, Inc					5,128
	153,589	*	Yahoo!, Inc					6,620
	475,628		Yum! Brands, Inc					43,192
	18,793	*,e	Zillow Group, Inc (Class C)					651
	107,440		Zimmer Holdings, Inc					13,969
	604,228		Zions Bancorporation					18,743
	404,683		Zoetis Inc					21,048
			TOTAL UNITED STATES					10,765,471
URUGUAY - 0.1%
	4,798,918	*	Arcos Dorados Holdings, Inc					25,289
			TOTAL URUGUAY					25,289
			TOTAL COMMON STOCKS					18,131,834
			(Cost $16,950,763)
PURCHASED OPTIONS - 0.0%
UNITED STATES - 0.0%
	132,500		S&P 500 Index					3,101
			TOTAL UNITED STATES					3,101
			TOTAL PURCHASED OPTIONS					3,101
			(Cost $5,516)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	BGP Holdings plc					0
			TOTAL AUSTRALIA					0
			TOTAL RIGHTS / WARRANTS					0
			(Cost $0)
						MATURITY
PRINCIPAL			ISSUER	RATE		DATE
SHORT-TERM INVESTMENTS - 2.6%
TREASURY DEBT - 0.4%
$	1,000,000	d	United States Treasury Bill	0.291	%	11/17/16		1,000
	6,700,000	d	United States Treasury Bill	0.300		12/01/16		6,698
	7,500,000		United States Treasury Bill	0.211		12/22/16		7,496
	6,600,000	d	United States Treasury Bill	0.305		02/09/17		6,592
	48,600,000	d	United States Treasury Bill	0.468		03/16/17		48,509
			TOTAL TREASURY DEBT					70,295

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.2%
CERTIFICATE OF DEPOSIT - 0.4%
$	20,000,000		Bank of Montreal		0.250	%	10/03/16	$	20,000
	20,000,000		CIBC Bank and Trust Co		0.260		10/03/16		20,000
	20,000,000		Deutsche Bank (Cayman) Ltd		0.500		10/03/16		20,000
	20,000,000		National Australia Bank Ltd		0.280		10/03/16		20,000
			TOTAL CERTIFICATE OF DEPOSIT						80,000
REPURCHASE AGREEMENT - 1.7%
	45,000,000	r	Barclays		0.470		10/03/16		45,000
	31,000,000	s	Citigroup		0.500		10/03/16		31,000
	25,000,000	t	Deutsche Bank		0.500		10/03/16		25,000
	35,000,000	u	HSBC		0.450		10/03/16		35,000
	50,000,000	v	HSBC		0.380		10/04/16		50,000
	38,000,000	w	Nomura		0.510		10/03/16		38,000
	65,000,000	x	Royal Bank of Scotland		0.340		10/04/16		65,000
	25,000,000	y	Royal Bank of Scotland		0.460		10/03/16		25,000
			TOTAL REPURCHASE AGREEMENT						314,000
VARIABLE RATE SECURITIES - 0.1%
	19,617,539	i	SLM Student Loan Trust 2007		0.755		01/25/19		19,466
			TOTAL VARIABLE RATE SECURITIES						19,466
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						413,466
			TOTAL SHORT-TERM INVESTMENTS						483,761
			(Cost $483,888)
			TOTAL INVESTMENTS - 101.7%						18,618,696
			(Cost $17,440,167)
			OTHER ASSETS & LIABILITIES, NET - (1.7)%						(319,644	)
			NET ASSETS - 100.0%					$	18,299,052

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

*	Non-income producing
^	Amount represents less than $1,000.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $448,966,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/16, the aggregate value of these securities was $182,181,000 or 1.0% of net assets.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
n	All or a portion of these securities have been segregated by the custodian to cover open requirements on open written contracts.
r	Agreement with Barclays, 0.47% dated 9/30/16 to be repurchased at $45,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $45,900,000.
s	Agreement with Citigroup, 0.50% dated 9/30/16 to be repurchased at $31,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $31,620,000.

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

t	Agreement with Deutsche Bank, 0.50% dated 9/30/16 to be repurchased at $25,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $25,500,000.
u	Agreement with HSBC, 0.45% dated 9/30/16 to be repurchased at $35,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $35,701,000.
v	Agreement with HSBC, 0.38% dated 9/27/16 to be repurchased at $50,000,000 on 10/04/16, collateralized by U.S. Government Agency Securities valued at $51,004,000.
w	Agreement with Nomura, 0.51% dated 9/30/16 to be repurchased at $38,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $38,760,000.
x	Agreement with Royal Bank of Scotland 0.34% dated 9/27/16 to be repurchased at $65,000,000 on 10/04/16, collateralized by U.S. Government Agency Securities valued at $66,302,000.
y	Agreement with Royal Bank of Scotland 0.46% dated 9/30/16 to be repurchased at $25,000,000 on 10/03/16, collateralized by U.S. Government Agency Securities valued at $25,503,000.

Cost amounts are in thousands.

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

September 30, 2016

	VALUE			% OF
SECTOR	(000)			ASSETS
INFORMATION TECHNOLOGY	$	2,799,814			15.2	%
CONSUMER DISCRETIONARY		2,688,586			14.7
FINANCIALS		2,648,143			14.5
HEALTH CARE		2,253,563			12.3
INDUSTRIALS		1,948,713			10.7
CONSUMER STAPLES		1,872,161			10.2
ENERGY		1,334,420			7.3
MATERIALS		992,352			5.4
REAL ESTATE		596,049			3.3
UTILITIES		526,199			2.9
TELECOMMUNICATION SERVICES		474,935			2.6
SHORT-TERM INVESTMENTS		483,761			2.6
OTHER ASSETS & LIABILITES, NET		(319,644	)		(1.7	)
NET ASSETS	$	18,299,052			100.0	%

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2016

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.2%
AUTOMOBILES & COMPONENTS - 1.2%
	5,193		BorgWarner, Inc	$	183
	1,750,486		Delphi Automotive plc		124,845
	53,561		Gentex Corp		940
	871,800		Goodyear Tire & Rubber Co		28,159
	53,090	e	Harley-Davidson, Inc		2,792
	210,932		Johnson Controls International plc		9,815
	346,567		Lear Corp		42,011
	183,124	*,e	Tesla Motors, Inc		37,363
	13,138		Thor Industries, Inc		1,113
	231,167		Visteon Corp		16,565
			TOTAL AUTOMOBILES & COMPONENTS		263,786
BANKS - 0.3%
	650,091		Citizens Financial Group, Inc		16,064
	777	*	First Hawaiian, Inc		21
	190,287		First Republic Bank		14,673
	9,267	*	Signature Bank		1,098
	10,532	*	SVB Financial Group		1,164
	715,100		Wells Fargo & Co		31,664
	14,501	*	Western Alliance Bancorp		544
			TOTAL BANKS		65,228
CAPITAL GOODS - 6.2%
	971,191		3M Co		171,153
	127,410		A.O. Smith Corp		12,587
	30,717		Acuity Brands, Inc		8,128
	12,055		Air Lease Corp		345
	27,153		Allegion plc		1,871
	377,900		Allison Transmission Holdings, Inc		10,838
	13,771		Ametek, Inc		658
	29,489		BE Aerospace, Inc		1,523
	676,839		Boeing Co		89,167
	251,748		BWX Technologies, Inc		9,660
	81,215		Carlisle Cos, Inc		8,330
	45,331		Danaher Corp		3,553
	22,801	e	Deere & Co		1,946
	32,145		Donaldson Co, Inc		1,200
	31,044		Emerson Electric Co		1,692
	81,737		Fastenal Co		3,415
	21,562		Flowserve Corp		1,040
	149,176		Fortive Corp		7,593
	405,594		Fortune Brands Home & Security, Inc		23,565
	181,810		General Dynamics Corp		28,210
	685,442		General Electric Co		20,303
	15,938		Graco, Inc		1,179

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	57,013	*	HD Supply Holdings, Inc	$	1,823
	4,823		HEICO Corp		334
	10,749		HEICO Corp (Class A)		650
	89,822	*	Herc Holdings, Inc		3,027
	25,419		Hexcel Corp		1,126
	1,756,409		Honeywell International, Inc		204,780
	60,011		Hubbell, Inc		6,466
	170,384		Huntington Ingalls		26,140
	19,715		IDEX Corp		1,845
	88,498		Illinois Tool Works, Inc		10,606
	585,878		Ingersoll-Rand plc		39,805
	10,010		Lennox International, Inc		1,572
	10,893		Lincoln Electric Holdings, Inc		682
	218,514		Lockheed Martin Corp		52,382
	12,419	*	Manitowoc Foodservice, Inc		201
	1,111,378		Masco Corp		38,131
	16,209	*	Middleby Corp		2,004
	5,054		MSC Industrial Direct Co (Class A)		371
	15,914		Nordson Corp		1,586
	789,874		Northrop Grumman Corp		168,993
	351,100		Owens Corning, Inc		18,745
	31,732		Paccar, Inc		1,865
	457,021		Parker Hannifin Corp		57,370
	38,569	*	Quanta Services, Inc		1,080
	864,512		Raytheon Co		117,686
	29,452		Rockwell Automation, Inc		3,603
	36,805		Rockwell Collins, Inc		3,104
	156,854		Roper Industries, Inc		28,621
	11,802		Snap-On, Inc		1,793
	296,626	*	Spirit Aerosystems Holdings, Inc (Class A)		13,212
	84,680		Stanley Works		10,414
	694,938		Textron, Inc		27,624
	30,722		Toro Co		1,439
	78,138	*	TransDigm Group, Inc		22,591
	318,412	*	United Rentals, Inc		24,992
	465,500	*	USG Corp		12,033
	5,036		Valmont Industries, Inc		678
	15,696	e	W.W. Grainger, Inc		3,529
	14,536	*	WABCO Holdings, Inc		1,650
	7,089		Watsco, Inc		999
	25,146	e	Westinghouse Air Brake Technologies Corp		2,053
	26,304		Xylem, Inc		1,380
			TOTAL CAPITAL GOODS		1,326,941
COMMERCIAL & PROFESSIONAL SERVICES - 1.7%
	25,137		Cintas Corp		2,830
	1,344	*	Clean Harbors, Inc		64
	649,228	e	CNH Industrial NV (NYSE)		4,687
	27,756	*	Copart, Inc		1,487
	34,546	e	Covanta Holding Corp		532
	4,045		Dun & Bradstreet Corp		553
	33,291		Equifax, Inc		4,480
	1,015,087	*	IHS Markit Ltd		38,117

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	39,897		KAR Auction Services, Inc	$	1,722
	192,100		Manpower, Inc		13,881
	2,878,909		Nielsen NV		154,223
	532,897		Pitney Bowes, Inc		9,677
	39,997		R.R. Donnelley & Sons Co		629
	35,806		Robert Half International, Inc		1,356
	28,441		Rollins, Inc		833
	725,549	*	Stericycle, Inc		58,146
	277,473	*	TransUnion		9,573
	648,908	*	Verisk Analytics, Inc		52,743
	127,137		Waste Management, Inc		8,106
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		363,639
CONSUMER DURABLES & APPAREL - 2.0%
	190,452		Brunswick Corp		9,290
	455		CalAtlantic Group, Inc		15
	27,191		Carter’s, Inc		2,358
	14,478		Coach, Inc		529
	348,142		DR Horton, Inc		10,514
	672,475		Hanesbrands, Inc		16,980
	9,310		Harman International Industries, Inc		786
	31,705		Hasbro, Inc		2,515
	32,271	*	Kate Spade & Co		553
	56,029		Leggett & Platt, Inc		2,554
	1,565		Lennar Corp (B Shares)		53
	26,461		Lennar Corp (Class A)		1,120
	27,718	*,e	Lululemon Athletica, Inc		1,690
	1,218,362		Mattel, Inc		36,892
	441,950	*	Michael Kors Holdings Ltd		20,679
	222,633	*	Mohawk Industries, Inc		44,602
	133,607		Newell Rubbermaid, Inc		7,036
	2,088,286		Nike, Inc (Class B)		109,948
	23,059	*	NVR, Inc		37,814
	17,042	e	Polaris Industries, Inc		1,320
	11,138		Pool Corp		1,053
	1,239,259		Pulte Homes, Inc		24,835
	268		Ralph Lauren Corp		27
	37,001	*	Skechers U.S.A., Inc (Class A)		847
	940,800		Sony Corp		31,169
	372,917		Sony Corp (ADR)		12,385
	385,044	*,e	Tempur-Pedic International, Inc		21,847
	20,072	*	Toll Brothers, Inc		599
	1,040,900	*,e	TomTom NV		9,959
	13,743		Tupperware Corp		898
	51,925	*	Under Armour, Inc		1,758
	52,351	*,e	Under Armour, Inc (Class A)		2,025
	98,474		VF Corp		5,520
	3,631	*	Vista Outdoor, Inc		145
	64,397		Whirlpool Corp		10,443
			TOTAL CONSUMER DURABLES & APPAREL		430,758
CONSUMER SERVICES - 3.7%
	1,913,207		ARAMARK Holdings Corp		72,759

238

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	502,873	e	Brinker International, Inc	$	25,360
	235,818	*,e	Chipotle Mexican Grill, Inc (Class A)		99,869
	5,251		Choice Hotels International, Inc		237
	89,488		Darden Restaurants, Inc		5,487
	13,908		Domino’s Pizza, Inc		2,112
	25,985	e	Dunkin Brands Group, Inc		1,353
	27,424		Extended Stay America, Inc		390
	130,563		Hilton Worldwide Holdings, Inc		2,994
	434	*,e	Hyatt Hotels Corp		21
	1,100,000		Interval Leisure Group, Inc		18,887
	1,589,311		Las Vegas Sands Corp		91,449
	70,060	e	Marriott International, Inc (Class A)		4,717
	584,248		McDonald’s Corp		67,399
	4,664,237	g	Merlin Entertainments plc		26,552
	1,555,250	*	MGM Resorts International		40,483
	1,026,975	*	Norwegian Cruise Line Holdings Ltd		38,717
	6,345	*,e	Panera Bread Co (Class A)		1,236
	53,246		Service Corp International		1,413
	263,224	*	ServiceMaster Global Holdings, Inc		8,865
	20,178		Six Flags Entertainment Corp		1,082
	4,139,537		Starbucks Corp		224,115
	10,363		Vail Resorts, Inc		1,626
	38,880		Wendy’s		420
	31,283		Wyndham Worldwide Corp		2,106
	20,635		Wynn Resorts Ltd		2,010
	602,645		Yum! Brands, Inc		54,726
			TOTAL CONSUMER SERVICES		796,385
DIVERSIFIED FINANCIALS - 2.0%
	13,133	*	Affiliated Managers Group, Inc		1,900
	351,310		Ameriprise Financial, Inc		35,050
	11,184		Artisan Partners Asset Management, Inc		304
	22,020		CBOE Holdings, Inc		1,428
	345,861		Charles Schwab Corp		10,919
	79,410	*,e	Credit Acceptance Corp		15,967
	300,244		Discover Financial Services		16,979
	46,281		Eaton Vance Corp		1,807
	11,209		Factset Research Systems, Inc		1,817
	26,650		Federated Investors, Inc (Class B)		790
	2,060		Interactive Brokers Group, Inc (Class A)		73
	15,774		IntercontinentalExchange Group, Inc		4,249
	18,947		Invesco Ltd		593
	959,500	e	iShares Russell 1000 Growth Index Fund		99,951
	2,607		Lazard Ltd (Class A)		95
	307		LPL Financial Holdings, Inc		9
	63,094		MarketAxess Holdings, Inc		10,448
	43,297		Moody’s Corp		4,688
	4,199		Morningstar, Inc		333
	39,405		MSCI, Inc (Class A)		3,308
	48,283		NorthStar Asset Management Group, Inc		624
	1,204,011		S&P Global, Inc		152,379
	37,192		SEI Investments Co		1,696
	2,345,500		Synchrony Financial		65,674

239

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	52,232		T Rowe Price Group, Inc	$	3,473
	68,582		TD Ameritrade Holding Corp		2,417
			TOTAL DIVERSIFIED FINANCIALS		436,971
ENERGY - 1.7%
	75,101		Apache Corp		4,797
	486,360		Cabot Oil & Gas Corp		12,548
	423	*,e	Chesapeake Energy Corp		2
	4,047		Cimarex Energy Co		544
	847,560	*	Concho Resources, Inc		116,412
	10,353	*,e	Continental Resources, Inc		538
	12,509		Devon Energy Corp		552
	68,323	*	Diamondback Energy, Inc		6,596
	1,496,243		EOG Resources, Inc		144,702
	14,196	*	Newfield Exploration Co		617
	59,547		Oneok, Inc		3,060
	928,817	*	Parsley Energy, Inc		31,125
	117,200		Pioneer Natural Resources Co		21,758
	689,636	*	Rice Energy, Inc		18,006
	608,506	*	Southwestern Energy Co		8,422
	30,649		Spectra Energy Corp		1,310
	29,511		Williams Cos, Inc		907
			TOTAL ENERGY		371,896
FOOD & STAPLES RETAILING - 1.9%
	11,152		Casey’s General Stores, Inc		1,340
	1,077,893		Costco Wholesale Corp		164,390
	1,421,642		CVS Health Corp		126,512
	1,796,164		Kroger Co		53,310
	293,536	*	Rite Aid Corp		2,257
	38,440	*	Sprouts Farmers Market, Inc		794
	548,297		Sysco Corp		26,872
	14,498	*	US Foods Holding Corp		342
	433,030		Walgreens Boots Alliance, Inc		34,911
	14,147	e	Whole Foods Market, Inc		401
			TOTAL FOOD & STAPLES RETAILING		411,129
FOOD, BEVERAGE & TOBACCO - 4.5%
	1,968,284		Altria Group, Inc		124,455
	500,000		Associated British Foods plc		16,847
	15,557	*	Blue Buffalo Pet Products, Inc		370
	13,415	e	Brown-Forman Corp		667
	55,011		Brown-Forman Corp (Class B)		2,610
	180,711		Campbell Soup Co		9,885
	1,468,756		Coca-Cola Co		62,158
	241,193		Coca-Cola European Partners plc (Class A)		9,624
	96,770		ConAgra Foods, Inc		4,559
	46,625		Constellation Brands, Inc (Class A)		7,763
	475,595		Dr Pepper Snapple Group, Inc		43,426
	49,091	e	Flowers Foods, Inc		742
	719,812		General Mills, Inc		45,982
	100,140	*	Hain Celestial Group, Inc		3,563
	39,331		Hershey Co		3,760

240

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	126,089		Hormel Foods Corp	$	4,782
	227,486		Ingredion, Inc		30,269
	205,017		Kellogg Co		15,883
	21,464		Kraft Heinz Co		1,921
	32,764		McCormick & Co, Inc		3,274
	19,576		Mead Johnson Nutrition Co		1,547
	957,051		Molson Coors Brewing Co (Class B)		105,084
	1,342,053	*	Monster Beverage Corp		197,027
	787,781		PepsiCo, Inc		85,687
	231,701		Philip Morris International, Inc		22,526
	2,837		Pilgrim’s Pride Corp		60
	529,229		Pinnacle Foods, Inc		26,551
	82,587	*	Post Holdings, Inc		6,373
	1,450,176		Reynolds American, Inc		68,376
	585,033		Suntory Beverage & Food Ltd		25,296
	4,578	*,e	TreeHouse Foods, Inc		399
	395,333		Tyson Foods, Inc (Class A)		29,519
	48,279	*	WhiteWave Foods Co (Class A)		2,628
			TOTAL FOOD, BEVERAGE & TOBACCO		963,613
HEALTH CARE EQUIPMENT & SERVICES - 5.6%
	968,520		Abbott Laboratories		40,959
	11,259	*	Abiomed, Inc		1,448
	6,212	*,e	Acadia Healthcare Co, Inc		308
	445,987		Aetna Inc		51,489
	2,919	*	Alere, Inc		126
	20,127	*	Align Technology, Inc		1,887
	408,631		AmerisourceBergen Corp		33,009
	152,552	*,e	Amsurg Corp		10,229
	367,351		Anthem, Inc		46,033
	10,810	*,e	athenahealth, Inc		1,363
	20,794		Bard (C.R.), Inc		4,664
	258,321		Baxter International, Inc		12,296
	66,914		Becton Dickinson & Co		12,026
	440,991	*	Boston Scientific Corp		10,496
	407,904		Cardinal Health, Inc		31,694
	353,504	*	Centene Corp		23,671
	2,163,130	*	Cerner Corp		133,573
	251,836		Cigna Corp		32,819
	10,356		Cooper Cos, Inc		1,856
	228,121	*	DaVita, Inc		15,072
	23,412	*	DexCom, Inc		2,052
	205,752	*	Edwards Lifesciences Corp		24,805
	41,915	*	Envision Healthcare Holdings, Inc		933
	931,730	*	Express Scripts Holding Co		65,715
	310,930	*	HCA Holdings, Inc		23,516
	362,800	e	Healthsouth Corp		14,719
	23,256	*	Henry Schein, Inc		3,790
	105,438		Hill-Rom Holdings, Inc		6,535
	793,108	*	Hologic, Inc		30,796
	39,554		Humana, Inc		6,997
	92,090	*	Idexx Laboratories, Inc		10,381
	42,306	*	IMS Health Holdings, Inc		1,326

241

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	13,045	*,e	Inovalon Holdings, Inc	$	192
	266,487	*	Intuitive Surgical, Inc		193,158
	113,540	*	Laboratory Corp of America Holdings		15,610
	150,200	*	LifePoint Hospitals, Inc		8,896
	277,241		McKesson Corp		46,230
	18,080	*	MEDNAX, Inc		1,198
	585,591		Olympus Corp		20,450
	23,041	e	Patterson Cos, Inc		1,059
	771,518	*	Premier, Inc		24,951
	39,131		Resmed, Inc		2,535
	54,029		St. Jude Medical, Inc		4,309
	95,513		Stryker Corp		11,119
	2,046		Teleflex, Inc		344
	20,100	*	Tenet Healthcare Corp		455
	1,158,270		UnitedHealth Group, Inc		162,158
	225,331		Universal Health Services, Inc (Class B)		27,765
	26,441	*	Varian Medical Systems, Inc		2,632
	132,145	*	VCA Antech, Inc		9,248
	155,074	*	Veeva Systems, Inc		6,401
	22,842	*	WellCare Health Plans, Inc		2,675
	19,652		West Pharmaceutical Services, Inc		1,464
	27,945		Zimmer Holdings, Inc		3,633
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,203,065
HOUSEHOLD & PERSONAL PRODUCTS - 0.9%
	94,864		Church & Dwight Co, Inc		4,546
	31,383		Clorox Co		3,928
	43,925		Colgate-Palmolive Co		3,257
	8,175	e	Coty, Inc		192
	234,700		Energizer Holdings, Inc		11,726
	1,333,219		Estee Lauder Cos (Class A)		118,070
	116,886	*,e	Herbalife Ltd		7,246
	105,783		Kimberly-Clark Corp		13,343
	94,820		Nu Skin Enterprises, Inc (Class A)		6,142
	162,821	e	Spectrum Brands, Inc		22,419
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		190,869
INSURANCE - 0.4%
	1,768		Amtrust Financial Services, Inc		47
	74,234		Aon plc		8,351
	35,002		Arthur J. Gallagher & Co		1,781
	2,274		Brown & Brown, Inc		86
	215,919		Chubb Ltd		27,130
	4,814		Erie Indemnity Co (Class A)		491
	15,313		Lincoln National Corp		719
	589,284		Marsh & McLennan Cos, Inc		39,629
	15,103		Progressive Corp		476
	29,857		XL Group Ltd		1,004
			TOTAL INSURANCE		79,714
MATERIALS - 3.3%
	139,037		Air Products & Chemicals, Inc		20,903
	541,700		Albemarle Corp		46,310

242

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	3,791		Aptargroup, Inc	$	293
	191,025		Avery Dennison Corp		14,860
	338,576	*	Axalta Coating Systems Ltd		9,572
	48,958		Ball Corp		4,012
	4,445		Bemis Co, Inc		227
	1,545,855	*	Berry Plastics Group, Inc		67,786
	130,121		Celanese Corp (Series A)		8,661
	420,594	*	Crown Holdings, Inc		24,012
	318,800		Dow Chemical Co		16,523
	12,625		Eagle Materials, Inc		976
	559,754		Ecolab, Inc		68,133
	463,968		EI du Pont de Nemours & Co		31,072
	28,740		FMC Corp		1,389
	475,649		Freeport-McMoRan Copper & Gold, Inc (Class B)		5,166
	1,187,421		Graphic Packaging Holding Co		16,612
	22,777		International Flavors & Fragrances, Inc		3,256
	325,400		International Paper Co		15,613
	584,878		LyondellBasell Industries AF S.C.A		47,176
	16,865		Martin Marietta Materials, Inc		3,021
	792,514		Monsanto Co		80,995
	1,988		NewMarket Corp		853
	997,800		Olin Corp		20,475
	41,332	*	Owens-Illinois, Inc		760
	65,570		Packaging Corp of America		5,328
	797,616		PPG Industries, Inc		82,442
	71,566		Praxair, Inc		8,647
	1,413		Royal Gold, Inc		109
	37,938		RPM International, Inc		2,038
	11,174		Scotts Miracle-Gro Co (Class A)		930
	224,150		Sealed Air Corp		10,271
	283,171		Sherwin-Williams Co		78,342
	10,798		Silgan Holdings, Inc		546
	11,441	e	Southern Copper Corp (NY)		301
	153,727		Steel Dynamics, Inc		3,842
	21,471		Valspar Corp		2,277
	34,738		Vulcan Materials Co		3,951
	93,968		WR Grace & Co		6,935
			TOTAL MATERIALS		714,615
MEDIA - 4.5%
	372,512	*	AMC Networks, Inc		19,319
	1,338		Cable One, Inc		781
	1,113,810		CBS Corp (Class B)		60,970
	71,024	*	Charter Communications, Inc		19,174
	165,905		Cinemark Holdings, Inc		6,351
	5,821		Clear Channel Outdoor Holdings, Inc (Class A)		34
	5,890,455		Comcast Corp (Class A)		390,773
	39,726	*,e	Discovery Communications, Inc (Class A)		1,070
	62,602	*	Discovery Communications, Inc (Class C)		1,647
	108,449	*	DISH Network Corp (Class A)		5,941
	1,692,095		Interpublic Group of Cos, Inc		37,818
	14,714		Lions Gate Entertainment Corp		294
	20,503	*	Live Nation, Inc		563

243

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	84	*	Madison Square Garden Co	$	14
	83,664		Omnicom Group, Inc		7,112
	7,410	e	Regal Entertainment Group (Class A)		161
	224,119		Scripps Networks Interactive (Class A)		14,229
	3,001,440	*,e	Sirius XM Holdings, Inc		12,516
	503,146	*	Starz-Liberty Capital		15,693
	1,839,997		Time Warner, Inc		146,482
	1,968		Tribune Co		72
	254,205		Twenty-First Century Fox, Inc		6,157
	209,768		Twenty-First Century Fox, Inc (Class B)		5,190
	2,009	e	Viacom, Inc		86
	996,644		Viacom, Inc (Class B)		37,972
	1,935,834		Walt Disney Co		179,761
			TOTAL MEDIA		970,180
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 10.0%
	1,206,012		AbbVie, Inc		76,063
	26,467	*,e	Acadia Pharmaceuticals, Inc		842
	25,591		Agilent Technologies, Inc		1,205
	5,620	*,e	Agios Pharmaceuticals, Inc		297
	21,170	*	Akorn, Inc		577
	823,971	*	Alexion Pharmaceuticals, Inc		100,969
	176,968	*	Alkermes plc		8,323
	1,272,347	*	Allergan plc		293,034
	17,646	*,e	Alnylam Pharmaceuticals, Inc		1,196
	828,307		Amgen, Inc		138,170
	478,132	*	Biogen Idec, Inc		149,670
	407,125	*	BioMarin Pharmaceutical, Inc		37,667
	60,875		Bio-Techne Corp		6,666
	2,141,785		Bristol-Myers Squibb Co		115,485
	28,874		Bruker BioSciences Corp		654
	2,230,663	*	Celgene Corp		233,171
	29,213	*	Charles River Laboratories International, Inc		2,435
	1,158,786		Eli Lilly & Co		93,004
	2,112,562		Gilead Sciences, Inc		167,146
	495,000	*	H Lundbeck AS		16,257
	422,262	*	Illumina, Inc		76,708
	76,795	*	Incyte Corp		7,241
	4,601	*,e	Intercept Pharmaceuticals, Inc		757
	13,638	*,e	Intrexon Corp		382
	33,532	*,e	Ionis Pharmaceuticals, Inc		1,229
	1,095,647		Johnson & Johnson		129,429
	15,328	*,e	Juno Therapeutics, Inc		460
	19,617	*	Mettler-Toledo International, Inc		8,236
	222,782	*	Mylan NV		8,492
	23,760	*	Neurocrine Biosciences, Inc		1,203
	200,000		Novo Nordisk AS		8,336
	82,442	*,e	Opko Health, Inc		873
	5,414	*	Patheon NV		160
	95,842		PerkinElmer, Inc		5,378
	473,133		Pfizer, Inc		16,025
	78,312	*	Quintiles Transnational Holdings, Inc		6,348
	23,254	*	Regeneron Pharmaceuticals, Inc		9,349

244

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	27,236	*,e	Seattle Genetics, Inc	$	1,471
	309,551		Shire plc (ADR)		60,010
	522,554		Thermo Electron Corp		83,117
	3,977	*,e	United Therapeutics Corp		470
	202,882	*	Vertex Pharmaceuticals, Inc		17,693
	86,971	*	VWR Corp		2,467
	102,554	*	Waters Corp		16,254
	4,554,091		Zoetis Inc		236,858
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,141,777
REAL ESTATE - 0.9%
	2,394		Alexandria Real Estate Equities, Inc		260
	141,085		American Tower Corp		15,989
	78,446		Boston Properties, Inc		10,691
	2,670		Care Capital Properties, Inc		76
	551,166	*	CBRE Group, Inc		15,422
	121,521		Crown Castle International Corp		11,448
	309,473		CubeSmart		8,436
	16,309		CyrusOne, Inc		776
	29,660		Digital Realty Trust, Inc		2,881
	70,121		Empire State Realty Trust, Inc		1,469
	19,655		Equinix, Inc		7,081
	84,425		Equity Lifestyle Properties, Inc		6,516
	7,945		Essex Property Trust, Inc		1,769
	62,939		Extra Space Storage, Inc		4,998
	19,893		Federal Realty Investment Trust		3,062
	305,849		Gaming and Leisure Properties, Inc		10,231
	26,200		Healthcare Trust of America, Inc		855
	76,547		Iron Mountain, Inc		2,873
	22,693		Lamar Advertising Co		1,482
	63,085		Life Storage, Inc		5,611
	870,000		MGM Growth Properties LLC		22,681
	22,177	e	Omega Healthcare Investors, Inc		786
	66,637		Outfront Media, Inc		1,576
	110,580		Public Storage, Inc		24,675
	4,218		Regency Centers Corp		327
	210,844		Senior Housing Properties Trust		4,788
	142,684		Simon Property Group, Inc		29,537
	36,341		Tanger Factory Outlet Centers, Inc		1,416
	8,149		Taubman Centers, Inc		606
	30,438		Ventas, Inc		2,150
			TOTAL REAL ESTATE		200,468
RETAILING - 10.4%
	115,254		Advance Auto Parts, Inc		17,187
	1,022,745	*	Amazon.com, Inc		856,355
	585,000	*	ASOS plc		36,813
	6,433	*	Autonation, Inc		313
	54,676	*	AutoZone, Inc		42,010
	5,063		Bed Bath & Beyond, Inc		218
	88,424	*	Burlington Stores, Inc		7,164
	57,273	*	Cabela’s, Inc		3,146
	1,185,305	*,e	Carmax, Inc		63,236

245

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	765,152	*	Ctrip.com International Ltd (ADR)	$	35,633
	119,983		Dick’s Sporting Goods, Inc		6,805
	399,167		Dollar General Corp		27,938
	64,938	*	Dollar Tree, Inc		5,126
	1,098,651		Expedia, Inc		128,234
	76,932		Fast Retailing Co Ltd		24,774
	798,003		Foot Locker, Inc		54,041
	494,300	e	GameStop Corp (Class A)		13,638
	22,204	e	Gap, Inc		494
	38,164		Genuine Parts Co		3,834
	4,096,545	*,e	Groupon, Inc		21,097
	2,698,877		Home Depot, Inc		347,291
	765,410		Industria De Diseno Textil S.A.		28,380
	12,975		L Brands, Inc		918
	1,772,672	*	Liberty Interactive Corp		35,471
	8,040	*	Liberty Ventures		321
	85,714	*	LKQ Corp		3,039
	894,804		Lowe’s Companies, Inc		64,614
	655,839		Macy’s, Inc		24,299
	144,667	*	Michaels Cos, Inc		3,497
	263,957	*	Murphy USA, Inc		18,836
	1,167,190	*	NetFlix, Inc		115,027
	881,355	e	Nordstrom, Inc		45,725
	123,264	*	O’Reilly Automotive, Inc		34,528
	32,570	*	Priceline.com, Inc		47,926
	133,482		Ross Stores, Inc		8,583
	42,105	*,e	Sally Beauty Holdings, Inc		1,081
	19,861		Signet Jewelers Ltd		1,480
	17,988		Target Corp		1,235
	315,000	e	Tiffany & Co		22,878
	867,394		TJX Companies, Inc		64,864
	38,613		Tractor Supply Co		2,601
	32,309	*	TripAdvisor, Inc		2,041
	16,276	*	Ulta Salon Cosmetics & Fragrance, Inc		3,873
	30,660	*	Urban Outfitters, Inc		1,058
	25,312	e	Williams-Sonoma, Inc		1,293
			TOTAL RETAILING		2,228,915
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.9%
	948,826	*,e	Advanced Micro Devices, Inc		6,556
	3,245,101		Applied Materials, Inc		97,840
	864,685		Broadcom Ltd		149,175
	7,717	*	Cree, Inc		198
	904,882		Intel Corp		34,159
	44,458		Kla-Tencor Corp		3,099
	968,418	e	Lam Research Corp		91,719
	32,542		Linear Technology Corp		1,929
	79,190		Maxim Integrated Products, Inc		3,162
	59,619	e	Microchip Technology, Inc		3,705
	1,250,712	*	Micron Technology, Inc		22,238
	387,588		Nvidia Corp		26,558
	363,140	*	NXP Semiconductors NV		37,044
	731,396	*	ON Semiconductor Corp		9,011

246

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	2,630	*	Qorvo, Inc	$	147
	318,770		Qualcomm, Inc		21,836
	166,923		Skyworks Solutions, Inc		12,709
	483,298		Texas Instruments, Inc		33,918
	1,125,743		Xilinx, Inc		61,173
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		616,176
SOFTWARE & SERVICES - 27.4%
	585,178		Accenture plc		71,491
	2,253,319		Activision Blizzard, Inc		99,822
	3,455,869	*	Adobe Systems, Inc		375,100
	44,302	*	Akamai Technologies, Inc		2,347
	23,040	*	Alliance Data Systems Corp		4,943
	487,187	*	Alphabet, Inc (Class A)		391,728
	907,501	*	Alphabet, Inc (Class C)		705,391
	356,691		Amdocs Ltd		20,634
	6,367	*	Ansys, Inc		590
	7,168	*	Atlassian Corp plc		215
	488,190	*	Autodesk, Inc		35,311
	138,344		Automatic Data Processing, Inc		12,202
	340,165	*	Baidu, Inc (ADR)		61,934
	77,967	*,e	Black Knight Financial Services, Inc		3,189
	279,596		Booz Allen Hamilton Holding Co		8,838
	145,761		Broadridge Financial Solutions, Inc		9,881
	85,327	*	Cadence Design Systems, Inc		2,178
	202,909		CDK Global, Inc		11,639
	239,800	*,e	Check Point Software Technologies		18,611
	435,000	*	Cimpress NV		44,013
	174,780	*	Citrix Systems, Inc		14,895
	464,878	*	Cognizant Technology Solutions Corp (Class A)		22,179
	1,608	*	CommerceHub, Inc		26
	804	*	CommerceHub, Inc (Series A)		13
	9,117	*	CoStar Group, Inc		1,974
	260,254		CSRA, Inc		7,001
	178,038	*	Dell Technologies, Inc-VMware Inc		8,510
	171,011		DST Systems, Inc		20,166
	2,335,997	*	eBay, Inc		76,854
	261,853	*	Electronic Arts, Inc		22,362
	14,811	*	Euronet Worldwide, Inc		1,212
	5,467,519	*	Facebook, Inc		701,319
	52,436		Fidelity National Information Services, Inc		4,039
	5,068	*,e	FireEye, Inc		75
	484,734	*	First American Corp		19,011
	390,907	*	First Data Corp		5,144
	77,077	*	Fiserv, Inc		7,667
	249,513	*	FleetCor Technologies, Inc		43,348
	41,971	*	Fortinet, Inc		1,550
	107,948	*	Gartner, Inc		9,548
	464,310	*	Genpact Ltd		11,120
	489,351		Global Payments, Inc		37,563
	12,080	*,e	GoDaddy, Inc		417
	1,000,000	*	GrubHub, Inc		42,990
	20,274	*	Guidewire Software, Inc		1,216

247

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	1,041,880		IAC/InterActiveCorp	$	65,086
	562,077		International Business Machines Corp		89,286
	3,240,536		Intuit, Inc		356,491
	22,290		Jack Henry & Associates, Inc		1,907
	115,906		Leidos Holdings, Inc		5,016
	33,484	*	LinkedIn Corp		6,399
	119,923	*	Manhattan Associates, Inc		6,910
	2,851,740		MasterCard, Inc (Class A)		290,222
	5,287	*,e	Match Group, Inc		94
	14,231,849		Microsoft Corp		819,755
	94,500		Netease.com (ADR)		22,754
	11,168	*	NetSuite, Inc		1,236
	48,072	*	Nuance Communications, Inc		697
	121,441	*	Nutanix, Inc		4,493
	1,853,390		Oracle Corp		72,801
	54,895	*,e	Pandora Media, Inc		787
	90,086		Paychex, Inc		5,213
	4,502,287	*	PayPal Holdings, Inc		184,459
	14,100	*	PTC, Inc		625
	29,248	*	Rackspace Hosting, Inc		927
	975,774	*	Red Hat, Inc		78,872
	60,111		Sabre Corp		1,694
	2,505,023	*	Salesforce.com, Inc		178,683
	785,442	*,g	Scout24 AG.		26,456
	417,750	*	ServiceNow, Inc		33,065
	37,784	*	Splunk, Inc		2,217
	10,493	*,e	Square, Inc		122
	47,020		SS&C Technologies Holdings, Inc		1,512
	810,153		Symantec Corp		20,335
	101,252	*	Synopsys, Inc		6,009
	15,969	*	Tableau Software, Inc		883
	2,922,600		Tencent Holdings Ltd		81,254
	458,902	*	Teradata Corp		14,226
	47,978		Total System Services, Inc		2,262
	2,562	*	Twilio, Inc		165
	161,763	*,e	Twitter, Inc		3,729
	9,521	*	Tyler Technologies, Inc		1,630
	8,061	*	Ultimate Software Group, Inc		1,648
	43,237	*	Vantiv, Inc		2,433
	27,709	*,e	VeriSign, Inc		2,168
	6,374,648		Visa, Inc (Class A)		527,183
	6,935	*,e	VMware, Inc (Class A)		509
	137,880		Western Union Co		2,871
	11,802	*	WEX, Inc		1,276
	34,155	*	Workday, Inc		3,132
	117,016	*,e	Yelp, Inc		4,879
	8,628	*,e	Zillow Group, Inc		297
	20,187	*,e	Zillow Group, Inc (Class C)		699
			TOTAL SOFTWARE & SERVICES		5,875,623
TECHNOLOGY HARDWARE & EQUIPMENT - 5.1%
	84,763		Amphenol Corp (Class A)		5,503
	8,575,797	d	Apple, Inc		969,494

248

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

				VALUE
SHARES			COMPANY	(000)
	87,553	*,e	Arista Networks, Inc	$	7,449
	537,876	*	ARRIS International plc		15,238
	46,029		CDW Corp		2,105
	183,462		Cognex Corp		9,698
	38,120	*	CommScope Holding Co, Inc		1,148
	128,106	*	F5 Networks, Inc		15,967
	269,043	*,e	Fitbit, Inc		3,992
	8,253	*	IPG Photonics Corp		680
	15,446		Motorola, Inc		1,178
	22,906		National Instruments Corp		650
	236,435	*	NCR Corp		7,611
	210,349	*	Palo Alto Networks, Inc		33,515
	56,927	*	Trimble Navigation Ltd		1,626
	27,114	*	VeriFone Systems, Inc		427
	175,300		Western Digital Corp		10,250
	11,773	*	Zebra Technologies Corp (Class A)		819
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,087,350
TELECOMMUNICATION SERVICES - 0.6%
	680,100		AT&T, Inc		27,619
	326,900		CenturyTel, Inc		8,967
	116,127	*	SBA Communications Corp (Class A)		13,025
	138,301	*	T-Mobile US, Inc		6,461
	1,304,092		Verizon Communications, Inc		67,786
	235,637	*	Zayo Group Holdings, Inc		7,001
			TOTAL TELECOMMUNICATION SERVICES		130,859
TRANSPORTATION - 2.0%
	502,768		Alaska Air Group, Inc		33,112
	33,183		Amerco, Inc		10,759
	20,989	*	Avis Budget Group, Inc		718
	40,986		CH Robinson Worldwide, Inc		2,888
	199,888		Delta Air Lines, Inc		7,868
	138,924		Expeditors International of Washington, Inc		7,157
	369,150		FedEx Corp		64,483
	619,392	*	Hertz Global Holdings, Inc		24,875
	25,710		J.B. Hunt Transport Services, Inc		2,086
	415,231	*	JetBlue Airways Corp		7,159
	10,886		Landstar System, Inc		741
	10,664	*	Old Dominion Freight Line		732
	175,500		Ryanair Holdings plc (ADR)		13,168
	1,094,756		Southwest Airlines Co		42,575
	305,000	*	Spirit Airlines, Inc		12,972
	1,480,130		Union Pacific Corp		144,357
	320,300	*	United Continental Holdings, Inc		16,806
	298,303		United Parcel Service, Inc (Class B)		32,622
			TOTAL TRANSPORTATION		425,078
UTILITIES - 0.0%
	11,092		Dominion Resources, Inc		824
	138,348		ITC Holdings Corp		6,430
	319		Piedmont Natural Gas Co, Inc		19
			TOTAL UTILITIES		7,273
			TOTAL COMMON STOCKS		21,302,308
			(Cost $17,657,051)

249

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 3.0%
TREASURY DEBT - 0.8%
$	17,625,000	d	United States Treasury Bill		0.220	%	10/27/16	$	17,623
	9,000,000	d	United States Treasury Bill		0.295		11/25/16		8,998
	9,400,000	d	United States Treasury Bill		0.265		12/22/16		9,395
	48,900,000	d	United States Treasury Bill		0.282		02/02/17		48,846
	25,000,000	d	United States Treasury Bill		0.305		02/09/17		24,969
	50,000,000	d	United States Treasury Bill		0.320		03/02/17		49,924
	13,600,000	d	United States Treasury Bill		0.369		03/23/17		13,573
			TOTAL TREASURY DEBT						173,328
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.2%
	468,503,302	c	State Street Navigator Securities Lending Government Money Market Portfolio						468,503
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						468,503
			TOTAL SHORT-TERM INVESTMENTS						641,831
			(Cost $641,849)
			TOTAL INVESTMENTS - 102.2%						21,944,139
			(Cost $18,298,900)
			OTHER ASSETS & LIABILITIES, NET - (2.2)%						(462,924	)
			NET ASSETS - 100.0%					$	21,481,215

	Abbreviation(s):
ADR	American Depositary Receipt
*	Non-income producing
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 contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $464,279,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/16, the aggregate value of these securities was $53,008,000 or 0.2% of net assets.
	Cost amounts are in thousands.

250

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND

EQUITY INDEX ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2016

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 1.1%
	56,324	*	American Axle & Manufacturing Holdings, Inc	$	970
	161,099		BorgWarner, Inc		5,667
	37,696		Cooper Tire & Rubber Co		1,433
	10,380	*	Cooper-Standard Holding, Inc		1,026
	111,547		Dana Holding Corp		1,739
	200,921		Delphi Automotive plc		14,330
	20,030	*	Dorman Products, Inc		1,280
	17,506		Drew Industries, Inc		1,716
	21,876	*	Federal Mogul Corp (Class A)		210
	2,849,911		Ford Motor Co		34,398
	16,848	*	Fox Factory Holding Corp		387
	1,043,270		General Motors Co		33,145
	210,501		Gentex Corp		3,696
	26,543	*	Gentherm, Inc		834
	191,568		Goodyear Tire & Rubber Co		6,188
	134,380	e	Harley-Davidson, Inc		7,067
	13,693	*	Horizon Global Corp		273
	690,213		Johnson Controls International plc		32,116
	51,268		Lear Corp		6,215
	6,649		Metaldyne Performance Group, Inc		105
	36,302	*	Modine Manufacturing Co		430
	13,147	*	Motorcar Parts of America, Inc		378
	24,709		Spartan Motors, Inc		237
	15,087		Standard Motor Products, Inc		721
	20,247	*	Stoneridge, Inc		373
	2,693		Strattec Security Corp		95
	17,815		Superior Industries International, Inc		519
	40,207	*	Tenneco, Inc		2,343
	86,900	*,e	Tesla Motors, Inc		17,730
	33,978		Thor Industries, Inc		2,878
	15,398		Tower International, Inc		371
	3,298		Unique Fabricating, Inc		40
	25,274		Visteon Corp		1,811
	21,322		Winnebago Industries, Inc		503
	9,424	*,e	Workhorse Group, Inc		68
			TOTAL AUTOMOBILES & COMPONENTS		181,292
BANKS - 5.7%
	12,604		1st Source Corp		450
	5,171		Access National Corp		124
	4,570		ACNB Corp		121
	7,958	*	Allegiance Bancshares, Inc		215
	5,882		American National Bankshares, Inc		164
	24,903		Ameris Bancorp		870
	7,069	e	Ames National Corp		196

251

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	7,715		Arrow Financial Corp	$	253
	110,942		Associated Banc-Corp		2,173
	66,701		Astoria Financial Corp		974
	12,656	*	Atlantic Capital Bancshares, Inc		190
	35,106		Banc of California, Inc		613
	5,787		Bancfirst Corp		420
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		605
	63,774		Bancorpsouth, Inc		1,480
	41,404		Bank Mutual Corp		318
	7,653,866		Bank of America Corp		119,783
	26,534	e	Bank of Hawaii Corp		1,927
	3,864		Bank of Marin Bancorp		192
	64,145		Bank of the Ozarks, Inc		2,463
	15,980		BankFinancial Corp		203
	73,818		BankUnited		2,229
	3,897	e	Bankwell Financial Group, Inc		92
	22,254		Banner Corp		973
	4,570		Bar Harbor Bankshares		168
	604,817		BB&T Corp		22,814
	9,956		Bear State Financial, Inc		91
	54,253		Beneficial Bancorp, Inc		798
	21,508		Berkshire Hills Bancorp, Inc		596
	20,549		Blue Hills Bancorp, Inc		309
	27,830		BNC Bancorp		677
	45,284	*,e	BofI Holding, Inc		1,014
	19,135	e	BOK Financial Corp		1,320
	59,217		Boston Private Financial Holdings, Inc		760
	12,233		Bridge Bancorp, Inc		350
	54,590		Brookline Bancorp, Inc		665
	12,987		Bryn Mawr Bank Corp		415
	6,346	*	BSB Bancorp, Inc		149
	2,353	e	C&F Financial Corp		101
	7,624		Camden National Corp		364
	16,948		Capital Bank Financial Corp		544
	9,158		Capital City Bank Group, Inc		135
	105,428		Capitol Federal Financial		1,483
	22,480		Cardinal Financial Corp		586
	7,542	e	Carolina Financial Corp		168
	21,201	*	Cascade Bancorp		128
	54,668		Cathay General Bancorp		1,683
	33,881		Centerstate Banks of Florida, Inc		601
	17,227		Central Pacific Financial Corp		434
	6,214		Central Valley Community Bancorp		99
	2,883		Century Bancorp, Inc		131
	13,560		Charter Financial Corp		175
	48,539		Chemical Financial Corp		2,142
	2,189	e	Chemung Financial Corp		63
	143,537		CIT Group, Inc		5,210
	2,186,446		Citigroup, Inc		103,266
	9,568		Citizens & Northern Corp		210
	392,839		Citizens Financial Group, Inc		9,707
	7,739		City Holding Co		389
	19,650		Clifton Bancorp, Inc		300

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	9,772		CNB Financial Corp	$	207
	26,184		CoBiz, Inc		349
	5,576		Codorus Valley Bancorp, Inc		122
	42,696		Columbia Banking System, Inc		1,397
	129,571		Comerica, Inc		6,131
	54,582		Commerce Bancshares, Inc		2,689
	30,550		Community Bank System, Inc		1,470
	12,718		Community Trust Bancorp, Inc		472
	7,261	*,e	CommunityOne Bancorp		100
	21,722		ConnectOne Bancorp, Inc		392
	3,700		County Bancorp, Inc		74
	12,656	*	CU Bancorp		289
	39,504	e	Cullen/Frost Bankers, Inc		2,842
	19,196	*	Customers Bancorp, Inc		483
	80,226		CVB Financial Corp		1,413
	23,810		Dime Community Bancshares		399
	22,108	*	Eagle Bancorp, Inc		1,091
	106,767		East West Bancorp, Inc		3,919
	6,481		Enterprise Bancorp, Inc		181
	14,785		Enterprise Financial Services Corp		462
	3,620	*	Equity Bancshares, Inc		94
	6,121	e	ESSA Bancorp, Inc		85
	55,323	*	Essent Group Ltd		1,472
	57,923		EverBank Financial Corp		1,121
	5,336		Farmers Capital Bank Corp		158
	18,150		Farmers National Banc Corp		196
	20,788	*	FCB Financial Holdings, Inc		799
	6,481		Federal Agricultural Mortgage Corp (Class C)		256
	15,456		Fidelity Southern Corp		284
	567,748		Fifth Third Bancorp		11,616
	10,211		Financial Institutions, Inc		277
	15,337		First Bancorp (NC)		304
	85,475	*	First Bancorp (Puerto Rico)		444
	6,485		First Bancorp, Inc		155
	23,093		First Busey Corp		522
	6,176		First Business Financial Services, Inc		145
	5,634		First Citizens Bancshares, Inc (Class A)		1,656
	66,434		First Commonwealth Financial Corp		670
	12,139		First Community Bancshares, Inc		301
	9,229	*,e	First Community Financial Partners, Inc		88
	13,926		First Connecticut Bancorp		248
	7,726		First Defiance Financial Corp		345
	44,691		First Financial Bancorp		976
	47,037	e	First Financial Bankshares, Inc		1,714
	8,954		First Financial Corp		364
	6,257		First Financial Northwest, Inc		89
	9,830	*	First Foundation, Inc		242
	20,000	*	First Hawaiian, Inc		537
	172,999		First Horizon National Corp		2,635
	4,089		First Internet Bancorp		94
	13,482		First Interstate Bancsystem, Inc		425
	29,933		First Merchants Corp		801
	4,469		First Mid-Illinois Bancshares, Inc		122

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	57,533		First Midwest Bancorp, Inc	$	1,114
	11,498	*	First NBC Bank Holding Co		109
	7,602	*	First Northwest Bancorp		103
	10,308		First of Long Island Corp		342
	108,227		First Republic Bank		8,345
	15,789	*	Flagstar Bancorp, Inc		438
	23,200		Flushing Financial Corp		550
	151,336		FNB Corp		1,861
	6,970	*	Franklin Financial Network, Inc		261
	126,801		Fulton Financial Corp		1,841
	9,802		German American Bancorp, Inc		382
	56,600		Glacier Bancorp, Inc		1,614
	7,809		Great Southern Bancorp, Inc		318
	30,455		Great Western Bancorp, Inc		1,015
	14,667	*	Green Bancorp, Inc		160
	2,003		Greene County Bancorp, Inc		33
	11,166		Guaranty Bancorp		199
	57,555		Hancock Holding Co		1,866
	23,963		Hanmi Financial Corp		631
	16,045		Heartland Financial USA, Inc		579
	16,751		Heritage Commerce Corp		183
	22,833		Heritage Financial Corp		410
	14,409		Heritage Oaks Bancorp		118
	55,915	*	Hilltop Holdings, Inc		1,256
	997		Hingham Institution for Savings		138
	4,264		Home Bancorp, Inc		119
	84,058		Home Bancshares, Inc		1,749
	15,022	*	HomeStreet, Inc		376
	16,046	*	HomeTrust Bancshares, Inc		297
	96,239		Hope Bancorp, Inc		1,672
	8,007		Horizon Bancorp		235
	801,542		Huntington Bancshares, Inc		7,903
	28,157		IBERIABANK Corp		1,890
	6,123	*,e	Impac Mortgage Holdings, Inc		81
	19,246		Independent Bank Corp (MA)		1,041
	17,558		Independent Bank Corp (MI)		295
	7,858		Independent Bank Group, Inc		347
	40,567		International Bancshares Corp		1,208
	219,896		Investors Bancorp, Inc		2,641
	2,710,959		JPMorgan Chase & Co		180,523
	69,276		Kearny Financial Corp		943
	802,266		Keycorp		9,764
	5,582	e	Lake Sunapee Bank Group		101
	28,418		Lakeland Bancorp, Inc		399
	18,630		Lakeland Financial Corp		660
	6,780		LCNB Corp		124
	32,716		LegacyTexas Financial Group, Inc		1,035
	4,100	*,e	LendingTree, Inc		397
	14,926	e	Live Oak Bancshares, Inc		215
	111,052		M&T Bank Corp		12,893
	19,210	e	Macatawa Bank Corp		153
	16,944		MainSource Financial Group, Inc		423
	51,779		MB Financial, Inc		1,970

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	13,586		MBT Financial Corp	$	123
	12,428		Mercantile Bank Corp		334
	3,784		Merchants Bancshares, Inc		123
	41,025		Meridian Bancorp, Inc		639
	5,928		Meta Financial Group, Inc		359
	252,589	*	MGIC Investment Corp		2,021
	3,714		Middleburg Financial Corp		105
	2,960		Midland States Bancorp, Inc		75
	5,257		MidWestOne Financial Group, Inc		160
	3,816		MutualFirst Financial, Inc		106
	19,324		National Bank Holdings Corp		452
	5,351	e	National Bankshares, Inc		197
	6,167	*	National Commerce Corp		167
	25,594	*,e	Nationstar Mortgage Holdings, Inc		379
	32,725		NBT Bancorp, Inc		1,076
	350,170		New York Community Bancorp, Inc		4,983
	5,394	*,e	Nicolet Bankshares, Inc		207
	38,864	*	NMI Holdings, Inc		296
	36,323		Northfield Bancorp, Inc		585
	5,019		Northrim BanCorp, Inc		129
	69,442		Northwest Bancshares, Inc		1,091
	14,953		OceanFirst Financial Corp		288
	33,903		OFG Bancorp		343
	6,461		Old Line Bancshares, Inc		127
	90,192		Old National Bancorp		1,268
	21,667		Old Second Bancorp, Inc		180
	10,957		Opus Bank		388
	26,521		Oritani Financial Corp		417
	5,318		Orrstown Financial Services, Inc		105
	14,467		Pacific Continental Corp		243
	11,579	*	Pacific Mercantile Bancorp		85
	19,968	*	Pacific Premier Bancorp, Inc		528
	85,767		PacWest Bancorp		3,680
	9,690		Park National Corp		930
	38,548		Park Sterling Bank		313
	11,582		Peapack Gladstone Financial Corp		260
	2,964		Penns Woods Bancorp, Inc		132
	9,540	*	PennyMac Financial Services, Inc		162
	13,423		Peoples Bancorp, Inc		330
	5,712	e	Peoples Financial Services Corp		233
	229,288		People’s United Financial, Inc		3,627
	9,341		People’s Utah Bancorp		190
	36,552	*	PHH Corp		528
	31,513		Pinnacle Financial Partners, Inc		1,704
	375,016		PNC Financial Services Group, Inc		33,785
	75,864		Popular, Inc		2,900
	8,859		Preferred Bank		317
	6,151	e	Premier Financial Bancorp, Inc		105
	58,098		PrivateBancorp, Inc		2,668
	49,181		Prosperity Bancshares, Inc		2,700
	3,260	*	Provident Bancorp, Inc		51
	4,497		Provident Financial Holdings, Inc		88
	45,191		Provident Financial Services, Inc		959

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	8,729		QCR Holdings, Inc	$	277
	146,431		Radian Group, Inc		1,984
	942,757		Regions Financial Corp		9,305
	29,870		Renasant Corp		1,005
	6,104		Republic Bancorp, Inc (Class A)		190
	23,825	*,e	Republic First Bancorp, Inc		98
	25,676		S&T Bancorp, Inc		744
	18,232		Sandy Spring Bancorp, Inc		558
	21,395	*	Seacoast Banking Corp of Florida		344
	16,424		ServisFirst Bancshares, Inc		853
	8,913		Shore Bancshares, Inc		105
	8,511		SI Financial Group, Inc		112
	8,919		Sierra Bancorp		167
	39,194	*	Signature Bank		4,643
	22,158		Simmons First National Corp (Class A)		1,106
	18,098		South State Corp		1,358
	4,079	*	Southern First Bancshares, Inc		112
	4,139		Southern Missouri Bancorp, Inc		103
	8,140		Southern National Bancorp of Virginia, Inc		106
	17,347		Southside Bancshares, Inc		558
	14,769		Southwest Bancorp, Inc		280
	26,403		State Bank & Trust Co		603
	88,560		Sterling Bancorp/DE		1,550
	16,305		Stock Yards Bancorp, Inc		537
	7,609		Stonegate Bank		257
	8,903		Suffolk Bancorp		310
	6,101	e	Summit Financial Group, Inc		117
	8,249		Sun Bancorp, Inc		190
	371,519		SunTrust Banks, Inc		16,273
	38,070	*	SVB Financial Group		4,208
	92,114		Synovus Financial Corp		2,996
	116,646		TCF Financial Corp		1,693
	8,286		Territorial Bancorp, Inc		237
	33,717	*	Texas Capital Bancshares, Inc		1,852
	52,879		TFS Financial Corp		942
	26,827	*	The Bancorp, Inc		172
	11,138		Tompkins Trustco, Inc		851
	41,087		TowneBank		987
	16,948		Trico Bancshares		454
	16,178	*	Tristate Capital Holdings, Inc		261
	10,668	*	Triumph Bancorp, Inc		212
	71,043		Trustco Bank Corp NY		504
	49,168		Trustmark Corp		1,355
	29,867		UMB Financial Corp		1,776
	161,706		Umpqua Holdings Corp		2,434
	31,837		Union Bankshares Corp		852
	2,885	e	Union Bankshares, Inc		98
	48,255	e	United Bankshares, Inc		1,818
	40,245		United Community Banks, Inc		846
	30,361		United Community Financial Corp		216
	36,948		United Financial Bancorp, Inc (New)		511
	19,117		Univest Corp of Pennsylvania		447
	1,198,540		US Bancorp		51,405

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	172,796		Valley National Bancorp	$	1,681
	6,183	*	Veritex Holdings, Inc		108
	19,235	*	Walker & Dunlop, Inc		486
	14,712	*,e	Walter Investment Management Corp		60
	67,298		Washington Federal, Inc		1,796
	10,818		Washington Trust Bancorp, Inc		435
	5,698		WashingtonFirst Bankshares, Inc		140
	22,962		Waterstone Financial, Inc		390
	67,195		Webster Financial Corp		2,554
	3,395,585		Wells Fargo & Co		150,356
	30,103		WesBanco, Inc		990
	11,970		West Bancorporation, Inc		235
	18,981	e	Westamerica Bancorporation		966
	64,944	*	Western Alliance Bancorp		2,438
	10,697		Westfield Financial, Inc		82
	35,315		Wintrust Financial Corp		1,962
	144,782	*	WMIH Corp		339
	20,553		WSFS Financial Corp		750
	31,047	*,e	Xenith Bankshares, Inc		72
	31,907		Yadkin Financial Corp		839
	149,549		Zions Bancorporation		4,639
			TOTAL BANKS		967,641
CAPITAL GOODS - 7.4%
	438,061		3M Co		77,199
	54,141		A.O. Smith Corp		5,349
	29,877		Aaon, Inc		861
	24,615		AAR Corp		771
	43,959		Actuant Corp (Class A)		1,022
	32,117		Acuity Brands, Inc		8,498
	24,758	e	Advanced Drainage Systems, Inc		596
	110,795	*	Aecom Technology Corp		3,294
	28,439	*	Aegion Corp		542
	46,010	*	Aerojet Rocketdyne Holdings, Inc		809
	14,335	*	Aerovironment, Inc		350
	56,061		AGCO Corp		2,765
	71,397		Air Lease Corp		2,041
	34,921		Aircastle Ltd		694
	6,904		Alamo Group, Inc		455
	21,082		Albany International Corp (Class A)		893
	71,508		Allegion plc		4,928
	4,493		Allied Motion Technologies, Inc		85
	104,849		Allison Transmission Holdings, Inc		3,007
	18,514		Altra Holdings, Inc		536
	13,776	*	Ameresco, Inc		72
	5,806	e	American Railcar Industries, Inc		241
	9,146	*,e	American Superconductor Corp		64
	10,171	*	American Woodmark Corp		819
	171,229		Ametek, Inc		8,181
	21,529		Apogee Enterprises, Inc		962
	26,937		Applied Industrial Technologies, Inc		1,259
	9,512		Argan, Inc		563
	17,658	*	Armstrong Flooring, Inc		333

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	28,807	*	Armstrong World Industries, Inc	$	1,190
	14,102		Astec Industries, Inc		844
	14,118	*	Astronics Corp		636
	19,364		AZZ, Inc		1,264
	33,400	*	Babcock & Wilcox Enterprises, Inc		551
	36,980		Barnes Group, Inc		1,500
	78,609		BE Aerospace, Inc		4,061
	38,770	*	Beacon Roofing Supply, Inc		1,631
	3,967	*,e	Blue Bird Corp		58
	40,522	*	BMC Stock Holdings, Inc		718
	443,090		Boeing Co		58,373
	35,415		Briggs & Stratton Corp		660
	51,345	*,e	Builders FirstSource, Inc		591
	69,405		BWX Technologies, Inc		2,663
	14,411		Caesarstone Sdot-Yam Ltd		543
	12,460	*	CAI International, Inc		103
	46,436		Carlisle Cos, Inc		4,763
	415,054		Caterpillar, Inc		36,844
	22,344	*	Chart Industries, Inc		734
	72,371		Chicago Bridge & Iron Co NV		2,029
	12,045		CIRCOR International, Inc		717
	35,009		Clarcor, Inc		2,276
	73,519	*	Colfax Corp		2,311
	14,727		Columbus McKinnon Corp		263
	27,143		Comfort Systems USA, Inc		796
	25,603	*	Continental Building Products Inc		537
	35,538		Crane Co		2,239
	7,312	*	CSW Industrials, Inc		237
	18,660		Cubic Corp		873
	117,279		Cummins, Inc		15,029
	32,643		Curtiss-Wright Corp		2,974
	449,606		Danaher Corp		35,245
	232,354	e	Deere & Co		19,831
	46,761	*	DigitalGlobe, Inc		1,286
	94,050		Donaldson Co, Inc		3,511
	16,771		Douglas Dynamics, Inc		536
	114,025		Dover Corp		8,397
	8,048	*	Ducommun, Inc		184
	9,738	*	DXP Enterprises, Inc		275
	22,543	*	Dycom Industries, Inc		1,844
	9,586		Dynamic Materials Corp		102
	340,356		Eaton Corp		22,365
	44,692		EMCOR Group, Inc		2,665
	476,629		Emerson Electric Co		25,981
	15,305		Encore Wire Corp		563
	11,608	*,e	Energous Corp		228
	8,913	*	Energy Recovery, Inc		142
	32,051		EnerSys		2,218
	12,394		Engility Holdings, Inc		390
	15,803		EnPro Industries, Inc		898
	18,556		ESCO Technologies, Inc		861
	21,694	*	Esterline Technologies Corp		1,650
	213,649		Fastenal Co		8,926

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	46,509		Federal Signal Corp	$	617
	96,500		Flowserve Corp		4,655
	103,400		Fluor Corp		5,306
	219,339		Fortive Corp		11,164
	113,402		Fortune Brands Home & Security, Inc		6,589
	34,098		Franklin Electric Co, Inc		1,388
	9,868		Freightcar America, Inc		142
	14,134	*,e	FuelCell Energy, Inc		77
	30,063	e	GATX Corp		1,339
	4,980	*	Gencor Industries, Inc		60
	48,390	*	Generac Holdings, Inc		1,757
	37,226		General Cable Corp		558
	178,923		General Dynamics Corp		27,762
	6,853,281		General Electric Co		202,994
	22,869	*	Gibraltar Industries, Inc		850
	16,574		Global Brass & Copper Holdings, Inc		479
	5,154	*	GMS, Inc		115
	14,132		Gorman-Rupp Co		362
	41,041		Graco, Inc		3,037
	7,763		Graham Corp		148
	29,395		Granite Construction, Inc		1,462
	44,924	*	Great Lakes Dredge & Dock Corp		157
	19,838	e	Greenbrier Cos, Inc		700
	26,499		Griffon Corp		451
	23,777		H&E Equipment Services, Inc		399
	8,975		Hardinge, Inc		100
	59,172		Harsco Corp		588
	26,381	*,e	HC2 Holdings, Inc		144
	136,436	*	HD Supply Holdings, Inc		4,363
	14,478		HEICO Corp		1,002
	29,540		HEICO Corp (Class A)		1,787
	17,889	*	Herc Holdings, Inc		603
	71,415		Hexcel Corp		3,164
	43,275		Hillenbrand, Inc		1,369
	562,542		Honeywell International, Inc		65,587
	40,778		Hubbell, Inc		4,393
	34,520		Huntington Ingalls		5,296
	4,796		Hurco Cos, Inc		135
	7,224		Hyster-Yale Materials Handling, Inc		434
	56,742		IDEX Corp		5,309
	5,334	*	IES Holdings, Inc		95
	219,031		Illinois Tool Works, Inc		26,249
	191,187		Ingersoll-Rand plc		12,989
	13,472		Insteel Industries, Inc		488
	60,728		ITT, Inc		2,176
	88,889	*	Jacobs Engineering Group, Inc		4,597
	21,706		John Bean Technologies Corp		1,531
	71,908		Joy Global, Inc		1,995
	8,084		Kadant, Inc		421
	19,992		Kaman Corp		878
	106,685		KBR, Inc		1,614
	58,766		Kennametal, Inc		1,705
	24,548	*,e	KEYW Holding Corp		271

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	38,579	*	KLX, Inc	$	1,358
	35,813	*,e	Kratos Defense & Security Solutions, Inc		247
	56,871		L-3 Communications Holdings, Inc		8,572
	4,456	*	Lawson Products, Inc		79
	13,681	*,e	Layne Christensen Co		116
	29,452		Lennox International, Inc		4,625
	45,300		Lincoln Electric Holdings, Inc		2,837
	8,999	e	Lindsay Corp		666
	188,948		Lockheed Martin Corp		45,295
	16,944		LSI Industries, Inc		190
	12,907	*	Lydall, Inc		660
	100,071		Manitowoc Co, Inc		479
	93,437	*	Manitowoc Foodservice, Inc		1,516
	246,599		Masco Corp		8,461
	22,281	*	Masonite International Corp		1,385
	48,078	*	Mastec, Inc		1,430
	28,845	*	Mercury Systems, Inc		709
	73,992	*	Meritor, Inc		824
	41,334	*	Middleby Corp		5,110
	9,476	*	Milacron Holdings Corp		151
	7,280		Miller Industries, Inc		166
	23,587	*	Moog, Inc (Class A)		1,404
	75,826	*	MRC Global, Inc		1,246
	34,779		MSC Industrial Direct Co (Class A)		2,553
	42,636		Mueller Industries, Inc		1,382
	114,327		Mueller Water Products, Inc (Class A)		1,435
	15,457	*	MYR Group, Inc		465
	3,938		National Presto Industries, Inc		346
	38,145	*,e	Navistar International Corp		873
	19,754	*	NCI Building Systems, Inc		288
	7,962	*	Neff Corp		76
	14,675		NN, Inc		268
	42,241		Nordson Corp		4,208
	123,820		Northrop Grumman Corp		26,491
	79,518	*	NOW, Inc		1,704
	5,211	*	NV5 Holdings, Inc		168
	2,354		Omega Flex, Inc		91
	43,366		Orbital ATK, Inc		3,306
	19,593	*	Orion Marine Group, Inc		134
	53,964		Oshkosh Truck Corp		3,022
	85,118		Owens Corning, Inc		4,544
	254,443		Paccar, Inc		14,956
	99,215		Parker Hannifin Corp		12,454
	9,372	*	Patrick Industries, Inc		580
	123,383		Pentair plc		7,926
	36,380	*	PGT, Inc		388
	125,956	*,e	Plug Power, Inc		215
	15,949	*	Ply Gem Holdings, Inc		213
	7,077		Powell Industries, Inc		283
	3,314	*,e	Power Solutions International, Inc		34
	1,801		Preformed Line Products Co		76
	28,783		Primoris Services Corp		593
	18,284	*,e	Proto Labs, Inc		1,095

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	25,291		Quanex Building Products Corp	$	437
	106,691	*	Quanta Services, Inc		2,986
	27,582		Raven Industries, Inc		635
	221,004		Raytheon Co		30,085
	16,634	*	RBC Bearings, Inc		1,272
	33,217		Regal-Beloit Corp		1,976
	61,005	*	Rexnord Corp		1,306
	96,529		Rockwell Automation, Inc		11,809
	97,885		Rockwell Collins, Inc		8,256
	72,041		Roper Industries, Inc		13,145
	4,597	*,e	Rush Enterprises, Inc		112
	21,510	*	Rush Enterprises, Inc (Class A)		527
	31,268		Simpson Manufacturing Co, Inc		1,374
	8,447	*	SiteOne Landscape Supply, Inc		304
	40,812		Snap-On, Inc		6,202
	48,120	*,e	SolarCity Corp		941
	7,959	*	Sparton Corp		209
	98,271	*	Spirit Aerosystems Holdings, Inc (Class A)		4,377
	30,406	*	SPX Corp		612
	26,058	*	SPX FLOW, Inc		806
	9,752		Standex International Corp		906
	111,184		Stanley Works		13,673
	16,194		Sun Hydraulics Corp		523
	47,039	*,e	Sunrun, Inc		296
	8,050		Supreme Industries, Inc		155
	38,585	*,e	Taser International, Inc		1,104
	26,449	*	Teledyne Technologies, Inc		2,855
	13,262		Tennant Co		859
	77,584		Terex Corp		1,971
	15,040	e	Textainer Group Holdings Ltd		113
	205,292		Textron, Inc		8,160
	7,401	*,e	The ExOne Company		113
	24,419	*	Thermon Group Holdings		482
	52,342		Timken Co		1,839
	33,155		Titan International, Inc		336
	11,613	*,e	Titan Machinery, Inc		121
	79,174		Toro Co		3,709
	37,115	*	TransDigm Group, Inc		10,731
	24,081	*	Trex Co, Inc		1,414
	34,233	*	Trimas Corp		637
	110,538		Trinity Industries, Inc		2,673
	24,710		Triton International Ltd		326
	36,497		Triumph Group, Inc		1,018
	28,503	*	Tutor Perini Corp		612
	65,633	*	United Rentals, Inc		5,152
	577,849		United Technologies Corp		58,709
	25,266	*	Univar, Inc		552
	14,766		Universal Forest Products, Inc		1,454
	64,802	*	USG Corp		1,675
	16,466		Valmont Industries, Inc		2,216
	7,860	*	Vectrus, Inc		120
	6,270	*	Veritiv Corp		315
	12,845	*	Vicor Corp		149

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	41,124	e	W.W. Grainger, Inc	$	9,246
	47,771	*,e	Wabash National Corp		680
	39,290	*	WABCO Holdings, Inc		4,461
	19,517		Watsco, Inc		2,750
	20,422		Watts Water Technologies, Inc (Class A)		1,324
	31,115	*	WESCO International, Inc		1,913
	63,916	e	Westinghouse Air Brake Technologies Corp		5,219
	3,392	*	Willis Lease Finance Corp		81
	38,996		Woodward Governor Co		2,436
	132,752		Xylem, Inc		6,963
			TOTAL CAPITAL GOODS		1,260,251
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
	41,289		ABM Industries, Inc		1,639
	37,820		Acacia Research (Acacia Technologies)		247
	77,675	*	ACCO Brands Corp		749
	31,285	*	Advisory Board Co		1,400
	7,288	*,e	Aqua Metals, Inc		65
	26,021	*	ARC Document Solutions, Inc		97
	6,166		Barrett Business Services, Inc		306
	33,472		Brady Corp (Class A)		1,158
	35,828		Brink’s Co		1,328
	29,675	*	Casella Waste Systems, Inc (Class A)		306
	35,493	*	CBIZ, Inc		397
	25,057		CEB, Inc		1,365
	18,496		Ceco Environmental Corp		209
	65,984		Cintas Corp		7,430
	38,764	*	Clean Harbors, Inc		1,860
	10,504	*,e	Cogint, Inc		53
	72,462	*	Copart, Inc		3,881
	84,474	e	Covanta Holding Corp		1,300
	7,013	*	CRA International, Inc		186
	36,092		Deluxe Corp		2,412
	27,024		Dun & Bradstreet Corp		3,692
	107,512	*,m	Dyax Corp		119
	20,052		Ennis, Inc		338
	88,074		Equifax, Inc		11,853
	28,344		Essendant, Inc		582
	19,672		Exponent, Inc		1,004
	9,375	*	Franklin Covey Co		167
	30,776	*	FTI Consulting, Inc		1,371
	15,088		G & K Services, Inc (Class A)		1,441
	9,864	*	GP Strategies Corp		243
	51,852		Healthcare Services Group		2,052
	14,300		Heidrick & Struggles International, Inc		265
	8,893	*	Heritage-Crystal Clean, Inc		118
	43,782		Herman Miller, Inc		1,252
	25,556	*	Hill International, Inc		118
	33,809		HNI Corp		1,346
	17,289	*	Huron Consulting Group, Inc		1,033
	14,961	*	ICF International, Inc		663
	27,969	*	Innerworkings, Inc		263
	13,423		Insperity, Inc		975

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	49,074		Interface, Inc	$	819
	105,770		KAR Auction Services, Inc		4,565
	20,372		Kelly Services, Inc (Class A)		392
	18,302		Kforce, Inc		375
	25,171		Kimball International, Inc (Class B)		326
	35,963		Knoll, Inc		822
	42,402		Korn/Ferry International		890
	56,108		Manpower, Inc		4,054
	23,595		Matthews International Corp (Class A)		1,434
	19,108		McGrath RentCorp		606
	13,300	*	Mistras Group, Inc		312
	33,943		Mobile Mini, Inc		1,025
	22,823		MSA Safety, Inc		1,325
	8,734		Multi-Color Corp		576
	36,256	*	Navigant Consulting, Inc		733
	270,305		Nielsen NV		14,480
	38,425	*	On Assignment, Inc		1,394
	139,962		Pitney Bowes, Inc		2,542
	19,971		Quad Graphics, Inc		534
	153,250		R.R. Donnelley & Sons Co		2,409
	172,064		Republic Services, Inc		8,681
	28,792		Resources Connection, Inc		430
	100,038		Robert Half International, Inc		3,787
	70,333		Rollins, Inc		2,059
	39,749	*	RPX Corp		425
	12,140	*	SP Plus Corp		310
	61,807		Steelcase, Inc (Class A)		858
	60,743	*	Stericycle, Inc		4,868
	20,907	*	Team, Inc		684
	42,802		Tetra Tech, Inc		1,518
	39,266	*	TransUnion		1,355
	12,065	*	TRC Cos, Inc		105
	30,336	*	TriNet Group, Inc		656
	30,958	*	TrueBlue, Inc		702
	10,976		Unifirst Corp		1,447
	16,280		US Ecology, Inc		730
	118,895	*	Verisk Analytics, Inc		9,664
	15,178		Viad Corp		560
	5,586		VSE Corp		190
	26,743	*	WageWorks, Inc		1,629
	329,871		Waste Management, Inc		21,033
	38,638		West Corp		853
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		157,440
CONSUMER DURABLES & APPAREL - 1.5%
	9,523	e	Arctic Cat, Inc		148
	7,681		Bassett Furniture Industries, Inc		179
	21,459	*,e	Beazer Homes USA, Inc		250
	67,005		Brunswick Corp		3,268
	55,638		CalAtlantic Group, Inc		1,861
	69,841		Callaway Golf Co		811
	37,197		Carter’s, Inc		3,225
	6,619	*	Cavco Industries, Inc		656

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	11,363	*	Century Communities, Inc	$	244
	204,773		Coach, Inc		7,486
	19,985		Columbia Sportswear Co		1,134
	56,978	*	CROCS, Inc		473
	6,879		CSS Industries, Inc		176
	6,895		Culp, Inc		205
	26,041	*	Deckers Outdoor Corp		1,551
	5,204	*	Delta Apparel, Inc		86
	241,753		DR Horton, Inc		7,301
	7,865		Escalade, Inc		100
	18,783		Ethan Allen Interiors, Inc		587
	3,991		Flexsteel Industries, Inc		206
	31,215	*,e	Fossil Group, Inc		867
	82,725	e	Garmin Ltd		3,980
	30,360	*	G-III Apparel Group Ltd		885
	74,136	*,e	GoPro, Inc		1,237
	9,827	*,e	Green Brick Partners, Inc		81
	280,007		Hanesbrands, Inc		7,070
	52,481		Harman International Industries, Inc		4,432
	82,316		Hasbro, Inc		6,530
	20,645	*	Helen of Troy Ltd		1,779
	7,913		Hooker Furniture Corp		194
	93,175	*,e	Hovnanian Enterprises, Inc (Class A)		157
	34,721	*,e	Iconix Brand Group, Inc		282
	14,775	*	Installed Building Products Inc		530
	21,039	*,e	iRobot Corp		925
	13,358	*,e	Jakks Pacific, Inc		115
	3,583		Johnson Outdoors, Inc		130
	94,263	*	Kate Spade & Co		1,615
	60,650	e	KB Home		978
	36,137		La-Z-Boy, Inc		888
	98,505		Leggett & Platt, Inc		4,490
	7,350		Lennar Corp (B Shares)		247
	128,503		Lennar Corp (Class A)		5,441
	10,716	*,e	LGI Homes, Inc		395
	16,013		Libbey, Inc		286
	7,210		Lifetime Brands, Inc		97
	72,052	*,e	Lululemon Athletica, Inc		4,394
	16,714	*	M/I Homes, Inc		394
	13,092	*	Malibu Boats Inc		195
	8,407		Marine Products Corp		75
	250,569		Mattel, Inc		7,587
	6,163		MCBC Holdings, Inc		70
	29,150		MDC Holdings, Inc		752
	28,574	*	Meritage Homes Corp		992
	127,585	*	Michael Kors Holdings Ltd		5,970
	45,442	*	Mohawk Industries, Inc		9,104
	12,667		Movado Group, Inc		272
	3,180		Nacco Industries, Inc (Class A)		216
	22,756	*	Nautilus, Inc		517
	6,504	*,e	New Home Co Inc		69
	348,792		Newell Rubbermaid, Inc		18,367
	989,006		Nike, Inc (Class B)		52,071

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	2,597	*	NVR, Inc	$	4,259
	10,973		Oxford Industries, Inc		743
	8,860	*	Perry Ellis International, Inc		171
	58,574		Phillips-Van Heusen Corp		6,472
	44,774	e	Polaris Industries, Inc		3,467
	29,883		Pool Corp		2,825
	255,719		Pulte Homes, Inc		5,125
	42,390		Ralph Lauren Corp		4,287
	27,136	*	Sequential Brands Group, Inc		217
	90,672	*	Skechers U.S.A., Inc (Class A)		2,076
	39,523	*,e	Smith & Wesson Holding Corp		1,051
	44,237	*	Steven Madden Ltd		1,529
	13,899		Sturm Ruger & Co, Inc		803
	5,163		Superior Uniform Group, Inc		102
	24,241	*	Taylor Morrison Home Corp		427
	39,568	*,e	Tempur-Pedic International, Inc		2,245
	114,595	*	Toll Brothers, Inc		3,422
	28,661	*	TopBuild Corp		952
	109,987	*	TRI Pointe Homes, Inc		1,450
	36,963		Tupperware Corp		2,416
	135,799	*	Under Armour, Inc		4,598
	134,677	*,e	Under Armour, Inc (Class A)		5,209
	10,905	*	Unifi, Inc		321
	10,485	*	Universal Electronics, Inc		781
	16,444	*	Vera Bradley, Inc		249
	252,966		VF Corp		14,179
	12,128	*,e	Vince Holding Corp		68
	45,102	*	Vista Outdoor, Inc		1,798
	16,063	*	WCI Communities, Inc		381
	5,214		Weyco Group, Inc		140
	55,133		Whirlpool Corp		8,940
	13,294	*,e	William Lyon Homes, Inc		247
	71,476		Wolverine World Wide, Inc		1,646
	21,026	*	Zagg, Inc		170
			TOTAL CONSUMER DURABLES & APPAREL		257,389
CONSUMER SERVICES - 2.1%
	13,862	*	American Public Education, Inc		275
	69,950	*	Apollo Group, Inc (Class A)		556
	179,185		ARAMARK Holdings Corp		6,814
	10,215	*	Ascent Media Corp (Series A)		237
	61,218	*	Belmond Ltd.		778
	17,134	*	BJ’s Restaurants, Inc		609
	83,985		Bloomin’ Brands, Inc		1,448
	14,693		Bob Evans Farms, Inc		563
	6,185	*,e	Bojangles’, Inc		99
	61,116	*	Boyd Gaming Corp		1,209
	13,548	*	Bridgepoint Education, Inc		93
	32,275	*	Bright Horizons Family Solutions		2,159
	45,353	e	Brinker International, Inc		2,287
	14,166	*	Buffalo Wild Wings, Inc		1,994
	34,686	*	Caesars Acquisition Co		431
	38,423	*,e	Caesars Entertainment Corp		286

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	8,227	*	Cambium Learning Group, Inc	$	45
	8,937		Capella Education Co		519
	46,334	*	Career Education Corp		315
	294,719		Carnival Corp		14,388
	12,748		Carriage Services, Inc		301
	27,792	*	Carrols Restaurant Group, Inc		367
	16,727	*	Century Casinos, Inc		116
	33,449		Cheesecake Factory		1,674
	54,819	*,e	Chegg, Inc		389
	20,976	*,e	Chipotle Mexican Grill, Inc (Class A)		8,883
	24,500		Choice Hotels International, Inc		1,104
	10,291		Churchill Downs, Inc		1,506
	12,474	*	Chuy’s Holdings, Inc		349
	47,371		ClubCorp Holdings, Inc		685
	5,623		Collectors Universe		104
	12,006	e	Cracker Barrel Old Country Store, Inc		1,587
	86,491		Darden Restaurants, Inc		5,304
	28,005	*	Dave & Buster’s Entertainment, Inc		1,097
	17,725	*	Del Frisco’s Restaurant Group, Inc		239
	16,464	*	Del Taco Restaurants, Inc		196
	61,863	*	Denny’s Corp		661
	48,007	e	DeVry Education Group, Inc		1,107
	12,802		DineEquity, Inc		1,014
	36,940		Domino’s Pizza, Inc		5,609
	68,211	e	Dunkin Brands Group, Inc		3,552
	14,501	*,e	El Pollo Loco Holdings, Inc		183
	20,875	*,e	Eldorado Resorts, Inc		293
	2,242	*	Empire Resorts, Inc		45
	44,382		Extended Stay America, Inc		630
	20,469	*	Fiesta Restaurant Group, Inc		491
	3,971	*	Fogo De Chao, Inc		42
	7,389		Golden Entertainment, Inc		92
	3,202		Graham Holdings Co		1,541
	34,464	*	Grand Canyon Education, Inc		1,392
	166,865		H&R Block, Inc		3,863
	8,405	*,e	Habit Restaurants, Inc		118
	386,075		Hilton Worldwide Holdings, Inc		8,853
	97,806	*	Houghton Mifflin Harcourt Co		1,312
	22,365	*,e	Hyatt Hotels Corp		1,101
	68,009		International Game Technology plc		1,658
	19,205		International Speedway Corp (Class A)		642
	83,898		Interval Leisure Group, Inc		1,441
	13,700	*	Intrawest Resorts Holdings Inc		222
	18,491	*	Isle of Capri Casinos, Inc		412
	10,324	*	J Alexander’s Holdings, Inc		105
	27,934		Jack in the Box, Inc		2,680
	11,200	*,e	Jamba, Inc		122
	26,055	*	K12, Inc		374
	6,015	*,e	Kona Grill, Inc		76
	69,470	*	La Quinta Holdings, Inc		777
	270,501		Las Vegas Sands Corp		15,565
	3,365		Liberty Tax, Inc		43
	62,061	*,e	LifeLock, Inc		1,050

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	10,890	*	Lindblad Expeditions Holdings, Inc	$	98
	13,511	*	Luby’s, Inc		58
	14,891		Marcus Corp		373
	239,471	e	Marriott International, Inc (Class A)		16,124
	16,563		Marriott Vacations Worldwide Corp		1,214
	651,910		McDonald’s Corp		75,204
	352,429	*	MGM Resorts International		9,174
	7,140	*	Monarch Casino & Resort, Inc		180
	2,378	*	Nathan’s Famous, Inc		125
	8,091	*,e	Noodles & Co		39
	112,841	*	Norwegian Cruise Line Holdings Ltd		4,254
	15,868	*,e	Panera Bread Co (Class A)		3,090
	20,085		Papa John’s International, Inc		1,584
	60,160	*	Penn National Gaming, Inc		816
	43,980	*	Pinnacle Entertainment, Inc		543
	10,931	*,e	Planet Fitness, Inc		219
	17,192	*	Popeyes Louisiana Kitchen, Inc		914
	16,455	*,e	Potbelly Corp		205
	11,433	*	Red Lion Hotels Corp		95
	10,662	*	Red Robin Gourmet Burgers, Inc		479
	22,107		Red Rock Resorts, Inc		521
	30,479	*	Regis Corp		382
	124,991		Royal Caribbean Cruises Ltd		9,368
	46,223	*	Ruby Tuesday, Inc		116
	26,831		Ruth’s Chris Steak House, Inc		379
	37,197	*,e	Scientific Games Corp (Class A)		419
	51,334	e	SeaWorld Entertainment, Inc		692
	138,975		Service Corp International		3,688
	100,430	*	ServiceMaster Global Holdings, Inc		3,382
	11,550	*,e	Shake Shack, Inc		400
	53,284		Six Flags Entertainment Corp		2,857
	38,968		Sonic Corp		1,020
	45,449	e	Sotheby’s (Class A)		1,728
	9,984		Speedway Motorsports, Inc		178
	1,053,844		Starbucks Corp		57,055
	769	*	Steak N Shake Co		335
	7,659	*	Strayer Education, Inc		358
	65,192		Summit Hotel Properties, Inc		858
	48,860		Texas Roadhouse, Inc (Class A)		1,907
	26,754		Vail Resorts, Inc		4,197
	20,932	*,e	Weight Watchers International, Inc		216
	154,822		Wendy’s		1,672
	11,781		Wingstop, Inc		345
	77,942		Wyndham Worldwide Corp		5,248
	59,328	e	Wynn Resorts Ltd		5,780
	287,216		Yum! Brands, Inc		26,082
	14,098	*,e	Zoe’s Kitchen, Inc		313
			TOTAL CONSUMER SERVICES		360,356
DIVERSIFIED FINANCIALS - 3.6%
	40,483	*	Affiliated Managers Group, Inc		5,858
	21,134		AG Mortgage Investment Trust		333
	329,397		Ally Financial, Inc		6,413

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	42,959		Altisource Residential Corp	$	468
	246,292		American Capital Agency Corp		4,813
	598,624		American Express Co		38,336
	116,633		Ameriprise Financial, Inc		11,636
	740,363		Annaly Capital Management, Inc		7,774
	70,479		Anworth Mortgage Asset Corp		347
	51,829		Apollo Commercial Real Estate Finance, Inc		848
	22,112		Ares Commercial Real Estate Corp		279
	16,506	e	Arlington Asset Investment Corp (Class A)		244
	28,906	e	ARMOUR Residential REIT, Inc		652
	27,757		Artisan Partners Asset Management, Inc		755
	4,901		Associated Capital Group, Inc		174
	6,841	e	B. Riley Financial, Inc		91
	779,012		Bank of New York Mellon Corp		31,067
	4,100	*,e	BBX Capital Corp		85
	160,048		BGC Partners, Inc (Class A)		1,400
	91,899		BlackRock, Inc		33,310
	16,951		Calamos Asset Management, Inc (Class A)		116
	379,842		Capital One Financial Corp		27,284
	71,072		Capstead Mortgage Corp		670
	55,975		CBOE Holdings, Inc		3,630
	866,815		Charles Schwab Corp		27,365
	130,009		Chimera Investment Corp		2,074
	247,571		CME Group, Inc		25,876
	15,440		Cohen & Steers, Inc		660
	80,158		Colony Financial, Inc		1,461
	82,972	*,e	Cowen Group, Inc		301
	6,269	*,e	Credit Acceptance Corp		1,261
	112,419		CYS Investments, Inc		980
	2,179		Diamond Hill Investment Group, Inc		403
	304,503		Discover Financial Services		17,220
	33,323		Dynex Capital, Inc		247
	207,162	*	E*TRADE Financial Corp		6,033
	88,158		Eaton Vance Corp		3,443
	19,334	*,e	Encore Capital Group, Inc		435
	18,647	*	Enova International, Inc		180
	28,885		Evercore Partners, Inc (Class A)		1,488
	38,445	*	Ezcorp, Inc (Class A)		425
	27,682		Factset Research Systems, Inc		4,487
	5,066		FBR & Co		67
	65,346		Federated Investors, Inc (Class B)		1,936
	39,058	e	Financial Engines, Inc		1,160
	35,793		FirstCash, Inc		1,685
	48,331	*	FNFV Group		603
	280,938		Franklin Resources, Inc		9,993
	23,847		Gain Capital Holdings, Inc		147
	4,901		GAMCO Investors, Inc (Class A)		140
	287,094		Goldman Sachs Group, Inc		46,300
	3,738		Great Ajax Corp		51
	33,057	*	Green Dot Corp		762
	22,433		Greenhill & Co, Inc		529
	26,910		Hannon Armstrong Sustainable Infrastructure Capital, Inc		629
	2,353		Hennessy Advisors, Inc		83

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	8,431		Houlihan Lokey, Inc	$	211
	47,028		Interactive Brokers Group, Inc (Class A)		1,659
	87,515		IntercontinentalExchange Group, Inc		23,573
	11,369	*	INTL FCStone, Inc		442
	318,549		Invesco Ltd		9,961
	88,593		Invesco Mortgage Capital, Inc		1,349
	25,877		Investment Technology Group, Inc		444
	17,045	e	iShares Russell 2000 Index Fund		2,117
	53,599	*	iStar Financial, Inc		575
	109,114		Janus Capital Group, Inc		1,529
	32,261	*	KCG Holdings, Inc		501
	28,136		Ladder Capital Corp		373
	73,441	*	Ladenburg Thalmann Financial Services, Inc		170
	94,587		Lazard Ltd (Class A)		3,439
	77,940		Legg Mason, Inc		2,609
	238,851	*,e	LendingClub Corp		1,476
	242,948		Leucadia National Corp		4,626
	63,483	e	LPL Financial Holdings, Inc		1,899
	10,830	*	Manning & Napier, Inc		77
	27,836		MarketAxess Holdings, Inc		4,609
	6,533		Marlin Business Services Corp		127
	5,352		Medley Management, Inc		45
	277,088		MFA Mortgage Investments, Inc		2,073
	12,795		Moelis & Co		344
	125,562		Moody’s Corp		13,596
	1,061,977		Morgan Stanley		34,047
	10,264		Morningstar, Inc		814
	70,228		MSCI, Inc (Class A)		5,895
	34,047	*	MTGE Investment Corp		585
	79,974		NASDAQ OMX Group, Inc		5,401
	244,743		Navient Corp		3,541
	14,990		Nelnet, Inc (Class A)		605
	145,076		New Residential Investment Corp		2,003
	72,745	e	New York Mortgage Trust, Inc		438
	18,457	*	NewStar Financial, Inc		179
	153,480		Northern Trust Corp		10,435
	143,463		NorthStar Asset Management Group, Inc		1,855
	29,274		OM Asset Management plc		407
	36,046	*	On Deck Capital, Inc		205
	38,494	*,e	OneMain Holdings, Inc		1,191
	7,363		Oppenheimer Holdings, Inc		105
	15,520	e	Orchid Island Capital, Inc		162
	6,966		Owens Realty Mortgage, Inc		121
	49,860		PennyMac Mortgage Investment Trust		777
	17,372	*	Pico Holdings, Inc		205
	12,046	*	Piper Jaffray Cos		582
	13,025	e	PJT Partners, Inc		355
	33,753	*	PRA Group, Inc		1,166
	9,591		Pzena Investment Management, Inc (Class A)		74
	94,509		Raymond James Financial, Inc		5,501
	56,629		Redwood Trust, Inc		802
	8,577	*	Regional Management Corp		186
	22,197	e	Resource Capital Corp		284

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	195,699		S&P Global, Inc	$	24,768
	16,951	*	Safeguard Scientifics, Inc		220
	66,420	*	Santander Consumer USA Holdings, Inc		808
	102,834		SEI Investments Co		4,690
	5,338		Silvercrest Asset Management Group, Inc		63
	317,527	*	SLM Corp		2,372
	6,799		SPDR S&P MidCap 400 ETF Trust		1,919
	68,435	e	SPDR Trust Series 1		14,802
	173,444		Starwood Property Trust, Inc		3,906
	293,319		State Street Corp		20,424
	49,761	*	Stifel Financial Corp		1,913
	621,629		Synchrony Financial		17,406
	175,152		T Rowe Price Group, Inc		11,648
	196,566		TD Ameritrade Holding Corp		6,927
	22,143		Tiptree Financial, Inc		132
	257,463		Two Harbors Investment Corp		2,196
	22,512	e,m	United Development Funding IV		72
	18,355		Virtu Financial, Inc		275
	5,194		Virtus Investment Partners, Inc		508
	151,871		Voya Financial, Inc		4,377
	62,904		Waddell & Reed Financial, Inc (Class A)		1,142
	28,538	e	Western Asset Mortgage Capital Corp		297
	5,409		Westwood Holdings Group, Inc		287
	84,317	e	WisdomTree Investments, Inc		868
	5,697	*,e	World Acceptance Corp		279
			TOTAL DIVERSIFIED FINANCIALS		613,051
ENERGY - 6.7%
	70,225	*	Abraxas Petroleum Corp		119
	1,730		Adams Resources & Energy, Inc		68
	23,232		Alon USA Energy, Inc		187
	379,816		Anadarko Petroleum Corp		24,065
	122,049	*	Antero Resources Corp		3,289
	282,031		Apache Corp		18,013
	51,391		Archrock, Inc		672
	14,064	e	Ardmore Shipping Corp		99
	47,265	e	Atwood Oceanics, Inc		411
	325,615		Baker Hughes, Inc		16,434
	36,170	*,e	Bill Barrett Corp		201
	26,221	e	Bristow Group, Inc		368
	341,979		Cabot Oil & Gas Corp		8,823
	23,456	*,e	California Resources Corp		293
	88,905	*	Callon Petroleum Co		1,396
	15,028	e	CARBO Ceramics, Inc		164
	40,960	*	Carrizo Oil & Gas, Inc		1,664
	151,200	*	Cheniere Energy, Inc		6,592
	449,095	*,e	Chesapeake Energy Corp		2,816
	1,400,044		Chevron Corp		144,093
	69,929		Cimarex Energy Co		9,396
	4,222	*,e	Clayton Williams Energy, Inc		361
	62,618	*,e	Clean Energy Fuels Corp		280
	104,456	*	Concho Resources, Inc		14,347
	922,697		ConocoPhillips		40,110

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	169,243	e	Consol Energy, Inc	$	3,249
	12,994	*	Contango Oil & Gas Co		133
	64,271	*,e	Continental Resources, Inc		3,340
	11,149	e	CVR Energy, Inc		154
	15,277	*	Dawson Geophysical Co		117
	42,034		Delek US Holdings, Inc		727
	266,127	*,e	Denbury Resources, Inc		860
	388,368		Devon Energy Corp		17,131
	66,927		DHT Holdings, Inc		280
	47,743	e	Diamond Offshore Drilling, Inc		841
	53,183	*	Diamondback Energy, Inc		5,134
	17,982	*,e	Dorian LPG Ltd		108
	28,933	*	Dril-Quip, Inc		1,613
	72,966		Energen Corp		4,212
	205,165		Ensco plc		1,744
	409,176		EOG Resources, Inc		39,571
	25,000	*,e	EP Energy Corp		109
	127,879		EQT Corp		9,287
	14,364	*	Era Group, Inc		116
	17,517		Evolution Petroleum Corp		110
	107,740	*,e	EXCO Resources, Inc		115
	25,695	*	Exterran Corp		403
	3,098,986	d	Exxon Mobil Corp		270,479
	46,513	*,e	Fairmount Santrol Holdings, Inc		394
	168,886	*	FMC Technologies, Inc		5,011
	43,546	*	Forum Energy Technologies, Inc		865
	26,300	e	Frank’s International NV		342
	47,943	e	Frontline Ltd		344
	32,033	e	GasLog Ltd		466
	20,488	*,e	Gener8 Maritime, Inc		105
	9,836	*,e	Geospace Technologies Corp		192
	66,097	e	Golar LNG Ltd		1,401
	26,945	e	Green Plains Renewable Energy, Inc		706
	93,033	*	Gulfport Energy Corp		2,628
	637,803		Halliburton Co		28,625
	77,857	*	Helix Energy Solutions Group, Inc		633
	71,374	e	Helmerich & Payne, Inc		4,803
	209,403		Hess Corp		11,228
	120,104		HollyFrontier Corp		2,943
	23,429	*,e	Hornbeck Offshore Services, Inc		129
	23,510	*	Independence Contract Drilling, Inc		123
	823	*,e	Isramco, Inc		69
	18,447	*,e	Jones Energy, Inc (Class A)		66
	1,431,389		Kinder Morgan, Inc		33,108
	115,749	*,e	Kosmos Energy LLC		742
	100,057	*	Laredo Petroleum Holdings, Inc		1,291
	630,083		Marathon Oil Corp		9,962
	392,213		Marathon Petroleum Corp		15,920
	60,990	*	Matador Resources Co		1,484
	19,934	*	Matrix Service Co		374
	180,710	*	McDermott International, Inc		905
	123,713	e	Murphy Oil Corp		3,761
	226,715		Nabors Industries Ltd		2,757

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	281,302		National Oilwell Varco, Inc	$	10,335
	9,713	*	Natural Gas Services Group, Inc		239
	61,477	e	Navios Maritime Acq Corp		83
	147,391	*	Newfield Exploration Co		6,406
	63,344	*	Newpark Resources, Inc		466
	176,953	e	Noble Corp plc		1,122
	317,190		Noble Energy, Inc		11,336
	68,002	e	Nordic American Tanker Shipping		688
	48,403	*,e	Northern Oil And Gas, Inc		130
	131,516	*,e	Oasis Petroleum, Inc		1,508
	568,080		Occidental Petroleum Corp		41,424
	73,330		Oceaneering International, Inc		2,017
	38,178	*	Oil States International, Inc		1,205
	155,126		Oneok, Inc		7,972
	26,237		Overseas Shipholding Group, Inc		277
	15,683	*	Pacific Ethanol, Inc		108
	10,734		Panhandle Oil and Gas, Inc (Class A)		188
	23,180	*	Par Petroleum Corp		303
	96,030	*	Parker Drilling Co		208
	112,049	*	Parsley Energy, Inc		3,755
	109,613		Patterson-UTI Energy, Inc		2,452
	71,772	e	PBF Energy, Inc		1,625
	34,008	*	PDC Energy, Inc		2,281
	9,723	*	PHI, Inc		177
	337,004		Phillips 66		27,146
	42,944	*	Pioneer Energy Services Corp		173
	120,994		Pioneer Natural Resources Co		22,463
	160,111		Questar Market Resources, Inc		3,127
	152,904		Range Resources Corp		5,925
	32,964	*,e	Renewable Energy Group, Inc		279
	4,186	*	Rex American Resources Corp		355
	88,506	*	Rice Energy, Inc		2,311
	9,601	*	RigNet, Inc		145
	26,446	*	Ring Energy, Inc		290
	93,726		Rowan Cos plc		1,421
	42,512	*,e	RPC, Inc		714
	58,079	*	RSP Permian, Inc		2,252
	39,750	*,e	Sanchez Energy Corp		351
	1,036,312		Schlumberger Ltd		81,496
	121,758		Scorpio Tankers, Inc		564
	11,768	*,e	SEACOR Holdings, Inc		700
	273,827	*,e	Seadrill Ltd		649
	32,387		SemGroup Corp		1,145
	45,041	e	Ship Finance International Ltd		663
	63,567		SM Energy Co		2,452
	373,357	*	Southwestern Energy Co		5,167
	515,932		Spectra Energy Corp		22,056
	111,107		Superior Energy Services		1,989
	136,776	*,e	Synergy Resources Corp		948
	115,767		Targa Resources Investments, Inc		5,685
	34,489	e	Teekay Corp		266
	85,424		Teekay Tankers Ltd (Class A)		216
	26,063		Tesco Corp		213

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	89,548		Tesoro Corp	$	7,124
	61,337	*	Tetra Technologies, Inc		375
	34,989	e	Tidewater, Inc		99
	230,146	e	Transocean Ltd (NYSE)		2,453
	36,980	*	Unit Corp		688
	41,136		US Silica Holdings Inc		1,915
	350,488		Valero Energy Corp		18,576
	26,733	*,e	W&T Offshore, Inc		47
	662,803	*,e	Weatherford International Ltd		3,725
	52,354		Western Refining, Inc		1,385
	14,035	*	Westmoreland Coal Co		124
	149,893	*,e	Whiting Petroleum Corp		1,310
	33,684	*	Willbros Group, Inc		63
	511,638		Williams Cos, Inc		15,723
	54,384		World Fuel Services Corp		2,516
	246,496	*	WPX Energy, Inc		3,251
			TOTAL ENERGY		1,132,311
FOOD & STAPLES RETAILING - 1.9%
	19,849		Andersons, Inc		718
	28,759		Casey’s General Stores, Inc		3,455
	14,374	*,e	Chefs’ Warehouse Holdings, Inc		160
	324,269		Costco Wholesale Corp		49,454
	799,104		CVS Health Corp		71,112
	10,217		Ingles Markets, Inc (Class A)		404
	707,530		Kroger Co		20,999
	6,410	*,e	Natural Grocers by Vitamin C		72
	19,609	*	Performance Food Group Co		486
	14,319		Pricesmart, Inc		1,199
	763,555	*	Rite Aid Corp		5,872
	17,661	*,e	Smart & Final Stores, Inc		226
	27,344		Spartan Stores, Inc		791
	103,685	*	Sprouts Farmers Market, Inc		2,141
	191,905	*	Supervalu, Inc		958
	390,192		Sysco Corp		19,123
	36,929	*	United Natural Foods, Inc		1,479
	22,653	*	US Foods Holding Corp		535
	4,843		Village Super Market (Class A)		155
	638,679		Walgreens Boots Alliance, Inc		51,490
	1,126,393		Wal-Mart Stores, Inc		81,236
	6,935		Weis Markets, Inc		368
	236,947	e	Whole Foods Market, Inc		6,717
			TOTAL FOOD & STAPLES RETAILING		319,150
FOOD, BEVERAGE & TOBACCO - 5.0%
	2,319		Alico, Inc		62
	1,448,932		Altria Group, Inc		91,616
	18,848	*,e	Amplify Snack Brands, Inc		305
	427,787		Archer Daniels Midland Co		18,040
	42,015		B&G Foods, Inc (Class A)		2,066
	38,794	*	Blue Buffalo Pet Products, Inc		922
	6,759	*,e	Boston Beer Co, Inc (Class A)		1,049
	40,474	e	Brown-Forman Corp		2,014

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	147,826		Brown-Forman Corp (Class B)	$	7,013
	103,143		Bunge Ltd		6,109
	10,841		Calavo Growers, Inc		709
	22,629	e	Cal-Maine Foods, Inc		872
	133,730		Campbell Soup Co		7,315
	3,512		Coca-Cola Bottling Co Consolidated		520
	2,897,162		Coca-Cola Co		122,608
	315,962		ConAgra Foods, Inc		14,885
	121,868		Constellation Brands, Inc (Class A)		20,290
	7,653	*	Craft Brewers Alliance, Inc		144
	122,720	*	Darling International, Inc		1,658
	70,011		Dean Foods Co		1,148
	137,423		Dr Pepper Snapple Group, Inc		12,548
	5,320	*	Farmer Bros Co		189
	128,238	e	Flowers Foods, Inc		1,939
	23,973		Fresh Del Monte Produce, Inc		1,436
	15,781	*,e	Freshpet, Inc		137
	440,990		General Mills, Inc		28,170
	76,104	*	Hain Celestial Group, Inc		2,708
	104,240		Hershey Co		9,965
	198,483		Hormel Foods Corp		7,528
	52,645		Ingredion, Inc		7,005
	14,455	*,e	Inventure Foods, Inc		136
	11,326		J&J Snack Foods Corp		1,349
	85,788		J.M. Smucker Co		11,628
	5,780		John B. Sanfilippo & Son, Inc		297
	184,673		Kellogg Co		14,307
	443,004		Kraft Heinz Co		39,653
	14,003		Lancaster Colony Corp		1,850
	19,323	*	Landec Corp		259
	3,603	*	Lifeway Foods, Inc		61
	8,386		Limoneira Co		159
	85,901		McCormick & Co, Inc		8,583
	137,192		Mead Johnson Nutrition Co		10,840
	8,017	e	Mgp Ingredients, Inc		325
	123,252		Molson Coors Brewing Co (Class B)		13,533
	1,112,347		Mondelez International, Inc		48,832
	103,359	*	Monster Beverage Corp		15,174
	8,815	*,e	National Beverage Corp		388
	15,084	*	Omega Protein Corp		353
	1,075,424		PepsiCo, Inc		116,974
	1,150,138		Philip Morris International, Inc		111,816
	43,650		Pilgrim’s Pride Corp		922
	85,273		Pinnacle Foods, Inc		4,278
	44,414	*	Post Holdings, Inc		3,427
	15,145	*	Primo Water Corp		184
	609,022		Reynolds American, Inc		28,715
	14,731	e	Sanderson Farms, Inc		1,419
	192	*	Seaboard Corp		660
	5,451	*	Seneca Foods Corp		154
	51,267		Snyder’s-Lance, Inc		1,722
	14,223	*,e	Synutra International, Inc		61
	14,407	e	Tootsie Roll Industries, Inc		531

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	40,589	*,e	TreeHouse Foods, Inc	$	3,539
	4,760	*	Turning Point Brands, Inc		57
	217,034		Tyson Foods, Inc (Class A)		16,206
	16,609		Universal Corp		967
	62,361	e	Vector Group Ltd		1,343
	128,932	*	WhiteWave Foods Co (Class A)		7,018
			TOTAL FOOD, BEVERAGE & TOBACCO		838,690
HEALTH CARE EQUIPMENT & SERVICES - 5.2%
	5,996	*,e	AAC Holdings, Inc		104
	16,624		Abaxis, Inc		858
	1,101,154		Abbott Laboratories		46,568
	30,796	*	Abiomed, Inc		3,960
	52,869	*,e	Acadia Healthcare Co, Inc		2,620
	58,290	*,e	Accuray, Inc		371
	20,426		Aceto Corp		388
	4,240	*	Addus HomeCare Corp		111
	9,161	*,e	Adeptus Health, Inc		394
	252,769		Aetna Inc		29,182
	26,310	*,e	Air Methods Corp		828
	63,974	*	Alere, Inc		2,766
	57,604	*	Align Technology, Inc		5,400
	133,589	*	Allscripts Healthcare Solutions, Inc		1,759
	5,488	*	Almost Family, Inc		202
	21,596	*	Amedisys, Inc		1,025
	6,596	*,e	American Renal Associates Holdings, Inc		120
	132,253		AmerisourceBergen Corp		10,683
	34,893	*	AMN Healthcare Services, Inc		1,112
	38,347	*,e	Amsurg Corp		2,571
	9,253		Analogic Corp		820
	18,523	*	Angiodynamics, Inc		325
	10,943	*	Anika Therapeutics, Inc		524
	194,418		Anthem, Inc		24,363
	28,653	*,e	athenahealth, Inc		3,614
	21,089	*,e	AtriCure, Inc		334
	1,165		Atrion Corp		497
	8,607	*	Avinger, Inc		41
	18,090	*	AxoGen, Inc		163
	54,958		Bard (C.R.), Inc		12,326
	378,400		Baxter International, Inc		18,012
	154,243		Becton Dickinson & Co		27,722
	51,896	*,e	BioScrip, Inc		150
	19,708	*	BioTelemetry, Inc		366
	1,002,168	*	Boston Scientific Corp		23,852
	135,933	*	Brookdale Senior Living, Inc		2,372
	25,974		Cantel Medical Corp		2,025
	21,051	*	Capital Senior Living Corp		354
	242,655		Cardinal Health, Inc		18,854
	23,626	*	Cardiovascular Systems, Inc		561
	24,169	*,e	Castlight Health, Inc		101
	124,149	*	Centene Corp		8,313
	218,621	*	Cerner Corp		13,500
	71,510	*,e	Cerus Corp		444

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	11,897		Chemed Corp	$	1,678
	188,472		Cigna Corp		24,562
	11,529	*	Civitas Solutions, Inc		211
	87,364	*,e	Community Health Systems, Inc		1,008
	8,700	e	Computer Programs & Systems, Inc		227
	27,401	*,e	ConforMIS, Inc		272
	20,631		Conmed Corp		826
	35,303		Cooper Cos, Inc		6,328
	7,512	*	Corvel Corp		288
	9,376	*	Cotiviti Holdings, Inc		314
	22,090	*	Cross Country Healthcare, Inc		260
	23,064		CryoLife, Inc		405
	10,389	*	Cutera, Inc		124
	16,811	*	Cynosure, Inc (Class A)		856
	124,392	*	DaVita, Inc		8,219
	170,370		DENTSPLY SIRONA, Inc		10,125
	60,914	*	DexCom, Inc		5,340
	31,033	*,e	Diplomat Pharmacy, Inc		869
	159,040	*	Edwards Lifesciences Corp		19,174
	59,131	*,e	Endologix, Inc		757
	35,447		Ensign Group, Inc		714
	3,873	*	Entellus Medical, Inc		86
	137,365	*	Envision Healthcare Holdings, Inc		3,059
	8,762	*,e	Evolent Health, Inc		216
	7,074	*	Exactech, Inc		191
	470,005	*	Express Scripts Holding Co		33,149
	28,070	*,e	Genesis Health Care, Inc		75
	30,765	*	GenMark Diagnostics, Inc		363
	12,233	*	Glaukos Corp		462
	51,975	*	Globus Medical, Inc		1,173
	38,562	*	Haemonetics Corp		1,396
	35,247	*	Halyard Health, Inc		1,222
	225,026	*	HCA Holdings, Inc		17,019
	29,519	*	HealthEquity, Inc		1,117
	65,205	e	Healthsouth Corp		2,645
	18,780	*	HealthStream, Inc		518
	23,599	*	Healthways, Inc		624
	59,318	*	Henry Schein, Inc		9,668
	48,728		Hill-Rom Holdings, Inc		3,020
	65,676	*	HMS Holdings Corp		1,456
	207,113	*	Hologic, Inc		8,042
	110,794		Humana, Inc		19,598
	10,885	*	ICU Medical, Inc		1,376
	69,037	*	Idexx Laboratories, Inc		7,783
	112,213	*	IMS Health Holdings, Inc		3,517
	11,764	*	Inogen Inc		705
	43,464	*,e	Inovalon Holdings, Inc		639
	41,898	*	Insulet Corp		1,715
	22,691	*	Integer Holding Corp		492
	22,370	*	Integra LifeSciences Holdings Corp		1,847
	28,086	*	Intuitive Surgical, Inc		20,358
	23,110		Invacare Corp		258
	19,324	*,e	InVivo Therapeutics Holdings Corp		131

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	2,271	*,e	iRadimed Corp	$	39
	5,587	*	IRIDEX Corp		81
	18,489	*,e	K2M Group Holdings, Inc		329
	61,383		Kindred Healthcare, Inc		627
	72,759	*	Laboratory Corp of America Holdings		10,003
	7,415		Landauer, Inc		330
	9,523		LeMaitre Vascular, Inc		189
	9,839	*	LHC Group, Inc		363
	29,927	*	LifePoint Hospitals, Inc		1,773
	20,368	*	Magellan Health Services, Inc		1,094
	32,545	*	Masimo Corp		1,936
	167,194		McKesson Corp		27,880
	40,806	*	Medidata Solutions, Inc		2,275
	67,894	*	MEDNAX, Inc		4,498
	1,038,346		Medtronic plc		89,713
	31,965		Meridian Bioscience, Inc		617
	32,366	*	Merit Medical Systems, Inc		786
	31,755	*	Molina Healthcare, Inc		1,852
	7,753		National Healthcare Corp		512
	5,598		National Research Corp		91
	24,197	*	Natus Medical, Inc		951
	26,800	*	Neogen Corp		1,499
	17,633	*	Nevro Corp		1,841
	38,458	*,e	Nobilis Health Corp		129
	37,361	*,e	Novocure Ltd		319
	36,380	*	NuVasive, Inc		2,425
	45,234	*	NxStage Medical, Inc		1,130
	27,483	*	Omnicell, Inc		1,053
	36,642	*	OraSure Technologies, Inc		292
	14,876	*	Orthofix International NV		636
	48,050		Owens & Minor, Inc		1,669
	14,688	*,e	Oxford Immunotec Global plc		184
	64,882	e	Patterson Cos, Inc		2,981
	18,741	*	Penumbra, Inc		1,424
	22,536	*	PharMerica Corp		633
	33,991	*	Premier, Inc		1,099
	16,396	*	Press Ganey Holdings, Inc		662
	10,213	*	Providence Service Corp		497
	37,773		Quality Systems, Inc		428
	105,165		Quest Diagnostics, Inc		8,900
	21,781	*	Quidel Corp		481
	21,841	*	Quorum Health Corp		137
	25,914	*	RadNet, Inc		192
	104,174		Resmed, Inc		6,749
	37,335	*,e	Rockwell Medical, Inc		250
	38,631	*	RTI Biologics, Inc		121
	9,992	*,e	Second Sight Medical Products, Inc		35
	77,335	*	Select Medical Holdings Corp		1,044
	21,089	*	Senseonics Holdings, Inc		82
	30,482	*	Spectranetics Corp		765
	208,009		St. Jude Medical, Inc		16,591
	26,141	*,e	Staar Surgical Co		246
	246,899		Stryker Corp		28,742

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	13,353	*,e	Surgery Partners, Inc	$	270
	19,814	*	Surgical Care Affiliates, Inc		966
	11,439	*	SurModics, Inc		344
	13,125	*	Tandem Diabetes Care, Inc		101
	52,951	*	Team Health Holdings, Inc		1,724
	15,157	*,e	Teladoc, Inc		278
	32,425		Teleflex, Inc		5,449
	59,665	*	Tenet Healthcare Corp		1,352
	47,535	*,e	TransEnterix, Inc		80
	18,039	*	Triple-S Management Corp (Class B)		396
	698,049		UnitedHealth Group, Inc		97,727
	42,895		Universal American Corp		328
	63,572		Universal Health Services, Inc (Class B)		7,833
	9,158		US Physical Therapy, Inc		574
	2,349		Utah Medical Products, Inc		140
	73,882	*	Varian Medical Systems, Inc		7,353
	12,709	*	Vascular Solutions, Inc		613
	57,774	*	VCA Antech, Inc		4,043
	71,264	*	Veeva Systems, Inc		2,942
	10,409	*,e	Veracyte, Inc		79
	15,934	*	Vocera Communications, Inc		269
	32,655	*	WellCare Health Plans, Inc		3,824
	53,222		West Pharmaceutical Services, Inc		3,965
	76,096	*	Wright Medical Group NV		1,867
	25,871	*,e	Zeltiq Aesthetics, Inc		1,015
	137,149		Zimmer Holdings, Inc		17,832
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		887,671
HOUSEHOLD & PERSONAL PRODUCTS - 1.9%
	323,551		Avon Products, Inc		1,831
	4,290	*	Central Garden & Pet Co		111
	24,471	*	Central Garden and Pet Co (Class A)		607
	185,644		Church & Dwight Co, Inc		8,896
	93,795		Clorox Co		11,741
	646,015		Colgate-Palmolive Co		47,896
	38,803	e	Coty, Inc		912
	43,691	*	Edgewell Personal Care Co		3,474
	46,250		Energizer Holdings, Inc		2,311
	157,776		Estee Lauder Cos (Class A)		13,973
	54,206	*,e	Herbalife Ltd		3,360
	66,020	*	HRG Group, Inc		1,036
	12,258		Inter Parfums, Inc		396
	265,004		Kimberly-Clark Corp		33,428
	4,694	*	Lifevantage Corp		44
	8,647		Medifast, Inc		327
	5,685	e	Natural Health Trends Corp		161
	5,868		Nature’s Sunshine Products, Inc		94
	40,942		Nu Skin Enterprises, Inc (Class A)		2,652
	6,693	*	Nutraceutical International Corp		209
	3,981		Oil-Dri Corp of America		150
	6,476	e	Orchids Paper Products Co		176
	1,984,296		Procter & Gamble Co		178,091
	8,319	*	Revlon, Inc (Class A)		306

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	18,325	e	Spectrum Brands, Inc	$	2,523
	4,308	*	USANA Health Sciences, Inc		596
	10,350		WD-40 Co		1,164
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		316,465
INSURANCE - 4.0%
	293,812		Aflac, Inc		21,116
	11,198	*	Alleghany Corp		5,879
	65,031		Allied World Assurance Co Holdings Ltd		2,629
	279,290		Allstate Corp		19,321
	32,256	*	AMBAC Financial Group, Inc		593
	59,335		American Equity Investment Life Holding Co		1,052
	48,186		American Financial Group, Inc		3,614
	825,690		American International Group, Inc		48,996
	5,469		American National Insurance Co		667
	13,468		Amerisafe, Inc		792
	54,870		Amtrust Financial Services, Inc		1,472
	195,580		Aon plc		22,001
	85,089	*	Arch Capital Group Ltd		6,744
	23,095		Argo Group International Holdings Ltd		1,303
	130,135		Arthur J. Gallagher & Co		6,620
	45,798		Aspen Insurance Holdings Ltd		2,134
	45,888		Assurant, Inc		4,233
	98,710		Assured Guaranty Ltd		2,739
	8,461	*	Atlas Financial Holdings, Inc		133
	67,951		Axis Capital Holdings Ltd		3,692
	6,904		Baldwin & Lyons, Inc (Class B)		177
	1,403,250	*	Berkshire Hathaway, Inc (Class B)		202,727
	4,749	e	Blue Capital Reinsurance Holdings Ltd		87
	86,667		Brown & Brown, Inc		3,268
	344,091		Chubb Ltd		43,235
	106,667		Cincinnati Financial Corp		8,045
	32,879	*,e	Citizens, Inc (Class A)		308
	19,762		CNA Financial Corp		680
	132,357		Conseco, Inc		2,021
	11,609	e	Crawford & Co (Class B)		132
	7,812		Donegal Group, Inc (Class A)		126
	13,558	*	eHealth, Inc		152
	6,754		EMC Insurance Group, Inc		182
	24,104		Employers Holdings, Inc		719
	46,342		Endurance Specialty Holdings Ltd		3,033
	6,955	*	Enstar Group Ltd		1,144
	18,079		Erie Indemnity Co (Class A)		1,845
	31,106		Everest Re Group Ltd		5,909
	8,273		FBL Financial Group, Inc (Class A)		529
	10,321		Federated National Holding Co		193
	8,299	e	Fidelity & Guaranty Life		192
	80,939		First American Financial Corp		3,179
	194,828		FNF Group		7,191
	368,772	*	Genworth Financial, Inc (Class A)		1,829
	20,683	*	Greenlight Capital Re Ltd (Class A)		423
	7,438	*	Hallmark Financial Services		77
	31,429		Hanover Insurance Group, Inc		2,370

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	290,967		Hartford Financial Services Group, Inc	$	12,459
	6,789	e	HCI Group, Inc		206
	18,411		Heritage Insurance Holdings, Inc		265
	29,606		Horace Mann Educators Corp		1,085
	5,951		Independence Holding Co		102
	8,975		Infinity Property & Casualty Corp		742
	1,119		Investors Title Co		111
	10,696		James River Group Holdings Ltd		387
	32,110		Kemper Corp		1,263
	177,414		Lincoln National Corp		8,335
	208,252		Loews Corp		8,570
	43,759		Maiden Holdings Ltd		555
	10,146	*	Markel Corp		9,423
	382,039		Marsh & McLennan Cos, Inc		25,692
	95,769	*	MBIA, Inc		746
	20,342		Mercury General Corp		1,116
	685,931		Metlife, Inc		30,476
	35,673		National General Holdings Corp		793
	6,453		National Interstate Corp		210
	1,551		National Western Life Group, Inc		319
	8,338		Navigators Group, Inc		808
	179,656		Old Republic International Corp		3,166
	17,609		OneBeacon Insurance Group Ltd (Class A)		251
	6,329	*,e	Patriot National, Inc		57
	40,061	e	Primerica, Inc		2,124
	198,757		Principal Financial Group		10,238
	41,338		ProAssurance Corp		2,169
	434,063		Progressive Corp		13,673
	329,057		Prudential Financial, Inc		26,868
	47,454		Reinsurance Group of America, Inc (Class A)		5,122
	33,807		RenaissanceRe Holdings Ltd		4,062
	30,938		RLI Corp		2,115
	11,093		Safety Insurance Group, Inc		746
	42,211		Selective Insurance Group, Inc		1,683
	11,039		State Auto Financial Corp		263
	21,827		State National Cos, Inc		243
	16,901		Stewart Information Services Corp		751
	58,727	*	Third Point Reinsurance Ltd		705
	82,576		Torchmark Corp		5,276
	213,843		Travelers Cos, Inc		24,496
	14,056	*,e	Trupanion, Inc		238
	6,929	*	United America Indemnity Ltd		206
	16,104		United Fire & Casualty Co		682
	12,682		United Insurance Holdings Corp		215
	22,242	e	Universal Insurance Holdings, Inc		561
	176,533		UnumProvident Corp		6,233
	55,625		Validus Holdings Ltd		2,771
	71,089		W.R. Berkley Corp		4,106
	3,672		White Mountains Insurance Group Ltd		3,048
	205,883		XL Group Ltd		6,924
			TOTAL INSURANCE		678,158

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
MATERIALS - 3.3%
	22,177		A. Schulman, Inc	$	646
	3,376		AEP Industries, Inc		369
	16,379	*,e	AgroFresh Solutions, Inc		87
	145,577		Air Products & Chemicals, Inc		21,886
	168,607	*,e	AK Steel Holding Corp		814
	83,129		Albemarle Corp		7,107
	967,634		Alcoa, Inc		9,812
	81,466	e	Allegheny Technologies, Inc		1,472
	20,501		American Vanguard Corp		329
	4,440		Ampco-Pittsburgh Corp		49
	46,295		Aptargroup, Inc		3,584
	46,088		Ashland Global Holdings, Inc		5,344
	66,121		Avery Dennison Corp		5,144
	111,094	*	Axalta Coating Systems Ltd		3,141
	23,190		Balchem Corp		1,798
	127,049		Ball Corp		10,412
	69,866		Bemis Co, Inc		3,564
	89,719	*	Berry Plastics Group, Inc		3,934
	29,817	*	Boise Cascade Co		757
	45,418		Cabot Corp		2,380
	39,299		Calgon Carbon Corp		596
	34,250		Carpenter Technology Corp		1,413
	109,510		Celanese Corp (Series A)		7,289
	36,798	*	Century Aluminum Co		256
	169,311		CF Industries Holdings, Inc		4,123
	5,158		Chase Corp		357
	133,935		Chemours Co		2,143
	47,225	*	Chemtura		1,549
	12,556	*	Clearwater Paper Corp		812
	117,787	*,e	Cliffs Natural Resources, Inc		689
	23,538	*	Codexis, Inc		105
	112,040	*	Coeur Mining, Inc		1,325
	85,866		Commercial Metals Co		1,390
	25,270	e	Compass Minerals International, Inc		1,862
	99,929	*	Crown Holdings, Inc		5,705
	8,022		Deltic Timber Corp		543
	47,043		Domtar Corp		1,747
	828,876		Dow Chemical Co		42,961
	34,706		Eagle Materials, Inc		2,683
	109,907		Eastman Chemical Co		7,438
	193,848		Ecolab, Inc		23,595
	650,748		EI du Pont de Nemours & Co		43,581
	55,318	*	Ferro Corp		764
	47,286	e	Ferroglobe plc		427
	40,724	*,e	Flotek Industries, Inc		592
	98,927		FMC Corp		4,782
	984,047		Freeport-McMoRan Copper & Gold, Inc (Class B)		10,687
	17,819		FutureFuel Corp		201
	52,340	*	GCP Applied Technologies, Inc		1,482
	39,231	*	Gold Resource Corp		291
	236,879		Graphic Packaging Holding Co		3,314
	22,699		Greif, Inc (Class A)		1,126
	37,440		H.B. Fuller Co		1,740

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	1,617	*	Handy & Harman Ltd	$	34
	7,923		Hawkins, Inc		343
	9,402		Haynes International, Inc		349
	54,162	*	Headwaters, Inc		916
	266,380		Hecla Mining Co		1,518
	146,965		Huntsman Corp		2,391
	32,193	*	Ingevity Corp		1,484
	15,371		Innophos Holdings, Inc		600
	18,027		Innospec, Inc		1,096
	59,224		International Flavors & Fragrances, Inc		8,467
	304,905		International Paper Co		14,629
	13,103		Kaiser Aluminum Corp		1,133
	62,146		Kapstone Paper and Packaging Corp		1,176
	7,156		KMG Chemicals, Inc		203
	15,231	*	Koppers Holdings, Inc		490
	21,628	*	Kraton Polymers LLC		758
	14,288	e	Kronos Worldwide, Inc		118
	104,108	*	Louisiana-Pacific Corp		1,960
	13,887	*,e	LSB Industries, Inc		119
	253,801		LyondellBasell Industries AF S.C.A		20,472
	47,207		Martin Marietta Materials, Inc		8,455
	14,781		Materion Corp		454
	25,740		Minerals Technologies, Inc		1,820
	323,697		Monsanto Co		33,082
	257,110		Mosaic Co		6,289
	15,401	*	Multi Packaging Solutions International Ltd		222
	18,118		Myers Industries, Inc		235
	12,153		Neenah Paper, Inc		960
	5,473		NewMarket Corp		2,350
	394,982		Newmont Mining Corp		15,519
	236,068		Nucor Corp		11,674
	121,769		Olin Corp		2,499
	6,559		Olympic Steel, Inc		145
	32,453	*	Omnova Solutions, Inc		274
	119,497	*	Owens-Illinois, Inc		2,198
	69,449		Packaging Corp of America		5,643
	32,454		PH Glatfelter Co		704
	104,607	*,e	Platform Specialty Products Corp		848
	61,942		PolyOne Corp		2,094
	197,219		PPG Industries, Inc		20,385
	212,370		Praxair, Inc		25,661
	9,804		Quaker Chemical Corp		1,039
	31,957	e	Rayonier Advanced Materials, Inc		427
	18,294	*	Real Industry, Inc		112
	51,675		Reliance Steel & Aluminum Co		3,722
	48,353		Royal Gold, Inc		3,744
	96,743		RPM International, Inc		5,197
	8,418	*	Ryerson Holding Corp		95
	19,399		Schnitzer Steel Industries, Inc (Class A)		405
	22,501		Schweitzer-Mauduit International, Inc		868
	33,262		Scotts Miracle-Gro Co (Class A)		2,770
	145,870		Sealed Air Corp		6,684
	32,785		Sensient Technologies Corp		2,485

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	59,894		Sherwin-Williams Co	$	16,570
	30,199		Silgan Holdings, Inc		1,528
	73,849		Sonoco Products Co		3,901
	62,159	e	Southern Copper Corp (NY)		1,635
	174,027		Steel Dynamics, Inc		4,349
	13,671		Stepan Co		993
	90,832	*	Stillwater Mining Co		1,214
	35,682	*	Summit Materials, Inc		662
	48,451		SunCoke Energy, Inc		389
	207,904		Tahoe Resources, Inc		2,667
	29,755	e	TimkenSteel Corp		311
	15,246	*	Trecora Resources		174
	19,671		Tredegar Corp		366
	15,483		Trinseo S.A.		876
	46,070	e	Tronox Ltd		432
	2,124	*	UFP Technologies, Inc		56
	1,357		United States Lime & Minerals, Inc		90
	101,053	e	United States Steel Corp		1,906
	10,188	*	US Concrete, Inc		469
	58,312		Valspar Corp		6,185
	98,368		Vulcan Materials Co		11,187
	28,083		Westlake Chemical Corp		1,502
	185,895		WestRock Co		9,012
	33,320	*	Worthington Industries, Inc		1,600
	52,361		WR Grace & Co		3,864
			TOTAL MATERIALS		559,450
MEDIA - 2.9%
	16,000		AMC Entertainment Holdings, Inc		497
	44,802	*	AMC Networks, Inc		2,323
	2,614		Cable One, Inc		1,527
	17,686	*	Carmike Cinemas, Inc		578
	300,085		CBS Corp (Class B)		16,427
	57,360	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		132
	148,749	*	Charter Communications, Inc		40,158
	78,739		Cinemark Holdings, Inc		3,014
	28,047		Clear Channel Outdoor Holdings, Inc (Class A)		164
	1,790,642		Comcast Corp (Class A)		118,791
	772	*,e	Daily Journal Corp		169
	111,235	*,e	Discovery Communications, Inc (Class A)		2,994
	174,955	*	Discovery Communications, Inc (Class C)		4,603
	160,944	*	DISH Network Corp (Class A)		8,817
	18,269		Entercom Communications Corp (Class A)		236
	50,932		Entravision Communications Corp (Class A)		389
	8,292	*,e	Eros International plc		127
	44,238		EW Scripps Co (Class A)		703
	86,657		Gannett Co, Inc		1,009
	34,321	*	Global Eagle Entertainment, Inc		285
	46,930	*	Gray Television, Inc		486
	6,780	*,e	Hemisphere Media Group, Inc		86
	43,669	*	Imax Corp		1,265
	305,436		Interpublic Group of Cos, Inc		6,826
	33,017		John Wiley & Sons, Inc (Class A)		1,704

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	7,655	*,e	Liberty Braves Group (Class A)	$	134
	25,374	*	Liberty Braves Group (Class C)		441
	19,204	*	Liberty Broadband Corp (Class A)		1,347
	76,445	*	Liberty Broadband Corp (Class C)		5,464
	19,139	*,e	Liberty Media Group (Class A)		548
	33,752	*	Liberty Media Group (Class C)		950
	67,298	*	Liberty SiriusXM Group (Class A)		2,287
	135,948	*	Liberty SiriusXM Group (Class C)		4,542
	70,064		Lions Gate Entertainment Corp		1,401
	108,249	*	Live Nation, Inc		2,975
	9,932	*	Loral Space & Communications, Inc		388
	15,311	*	Madison Square Garden Co		2,594
	37,799		MDC Partners, Inc		405
	80,085	*	Media General, Inc		1,476
	26,535		Meredith Corp		1,380
	45,934	*	MSG Networks, Inc		855
	46,358		National CineMedia, Inc		682
	29,023		New Media Investment Group, Inc		450
	92,052		New York Times Co (Class A)		1,100
	283,916		News Corp		3,969
	86,319		News Corp (Class B)		1,227
	23,355	e	Nexstar Broadcasting Group, Inc (Class A)		1,348
	175,351		Omnicom Group, Inc		14,905
	15,910	*	Radio One, Inc		48
	12,373	*	Reading International, Inc		165
	60,087	e	Regal Entertainment Group (Class A)		1,307
	3,654		Saga Communications, Inc		166
	19,984		Scholastic Corp		787
	61,043		Scripps Networks Interactive (Class A)		3,876
	49,336		Sinclair Broadcast Group, Inc (Class A)		1,425
	1,321,277	*,e	Sirius XM Holdings, Inc		5,510
	63,623	*	Starz-Liberty Capital		1,984
	161,282		TEGNA, Inc		3,526
	227,373		Thomson Corp		9,409
	585,391		Time Warner, Inc		46,603
	81,058		Time, Inc		1,174
	5,104	*	Townsquare Media, Inc		48
	57,786		Tribune Co		2,110
	19,202	*	tronc, Inc		324
	808,385		Twenty-First Century Fox, Inc		19,579
	357,708		Twenty-First Century Fox, Inc (Class B)		8,850
	7,706	e	Viacom, Inc		330
	256,908		Viacom, Inc (Class B)		9,788
	1,202,396		Walt Disney Co		111,655
	27,047	e	World Wrestling Entertainment, Inc (Class A)		576
			TOTAL MEDIA		493,418
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.6%
	1,202,181		AbbVie, Inc		75,822
	66,244	*,e	Acadia Pharmaceuticals, Inc		2,107
	16,937	*,e	Accelerate Diagnostics, Inc		462
	20,273	*	Acceleron Pharma, Inc		734
	28,364	*,e	AcelRx Pharmaceuticals, Inc		110

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	86,253	*	Achillion Pharmaceuticals, Inc	$	699
	6,392	*	Aclaris Therapeutics, Inc		164
	31,389	*	Acorda Therapeutics, Inc		655
	12,735	*,e	Adamas Pharmaceuticals, Inc		209
	26,641	*,e	Aduro Biotech, Inc		331
	22,408	*,e	Advaxis, Inc		240
	14,848	*	Adverum Biotechnologies, Inc		61
	17,596	*	Aerie Pharmaceuticals, Inc		664
	56,789	*,e	Agenus, Inc		408
	7,692	*	Agile Therapeutics, Inc		54
	246,217		Agilent Technologies, Inc		11,594
	20,983	*,e	Agios Pharmaceuticals, Inc		1,108
	19,631	*,e	Aimmune Therapeutics, Inc		294
	26,366	*	Akebia Therapeutics, Inc		239
	62,292	*	Akorn, Inc		1,698
	17,375	*,e	Albany Molecular Research, Inc		287
	33,564	*,e	Alder Biopharmaceuticals, Inc		1,100
	161,444	*	Alexion Pharmaceuticals, Inc		19,783
	109,475	*	Alkermes plc		5,149
	294,259	*	Allergan plc		67,771
	54,942	*,e	Alnylam Pharmaceuticals, Inc		3,724
	25,493	*,e	AMAG Pharmaceuticals, Inc		625
	556,320		Amgen, Inc		92,800
	93,275	*,e	Amicus Therapeutics, Inc		690
	25,774	*,e	Amphastar Pharmaceuticals, Inc		489
	34,224	*,e	Ampio Pharmaceuticals, Inc		25
	23,093	*,e	Anavex Life Sciences Corp		84
	5,767	*,e	ANI Pharmaceuticals, Inc		383
	26,005	*,e	Anthera Pharmaceuticals, Inc		82
	9,076	*	Applied Genetic Technologies Corp		89
	12,007	*	Aptevo Therapeutics, Inc		31
	22,162	*	Aratana Therapeutics, Inc		207
	16,020	*,e	Ardelyx, Inc		207
	179,094	*,e	Arena Pharmaceuticals, Inc		313
	8,722	*,e	Argos Therapeutics, Inc		43
	124,166	*,e	Ariad Pharmaceuticals, Inc		1,700
	103,770	*,e	Array Biopharma, Inc		700
	39,456	*,e	Arrowhead Research Corp		290
	17,138	*,e	Asterias Biotherapeutics, Inc		73
	17,368	*,e	Atara Biotherapeutics, Inc		372
	52,762	*,e	Athersys, Inc		112
	3,387	*	Avexis, Inc		140
	18,230	*,e	Axovant Sciences Ltd		255
	7,312	*,e	Axsome Therapeutics, Inc		58
	15,642	*,e	Bellicum Pharmaceuticals, Inc		311
	53,741	*	BioCryst Pharmaceuticals, Inc		237
	163,918	*	Biogen Idec, Inc		51,311
	126,546	*	BioMarin Pharmaceutical, Inc		11,708
	59,746	*,e	Bio-Path Holdings, Inc		84
	15,517	*	Bio-Rad Laboratories, Inc (Class A)		2,542
	3,856	*	Biospecifics Technologies Corp		176
	28,168		Bio-Techne Corp		3,084
	37,736	*,e	BioTime, Inc		147

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	27,414	*,e	Bluebird Bio, Inc	$	1,858
	14,832	*,e	Blueprint Medicines Corp		441
	1,237,854		Bristol-Myers Squibb Co		66,745
	83,145		Bruker BioSciences Corp		1,883
	23,380	*	Cambrex Corp		1,039
	12,327	*,e	Cara Therapeutics Inc		103
	61,808	*	Catalent, Inc		1,597
	575,360	*	Celgene Corp		60,142
	73,063	*,e	Celldex Therapeutics, Inc		295
	7,210	*,e	Cellular Biomedicine Group, Inc		105
	30,752	*,e	Cempra, Inc		744
	52,661	*	Cepheid, Inc		2,775
	35,378	*	Charles River Laboratories International, Inc		2,948
	18,304	*,e	ChemoCentryx, Inc		111
	30,594	*,e	Chimerix, Inc		169
	21,144	*,e	ChromaDex Corp		63
	8,028	*	Cidara Therapeutics, Inc		92
	23,470	*,e	Clovis Oncology, Inc		846
	21,791	*	Coherus Biosciences, Inc		584
	9,867	*,e	Collegium Pharmaceutical, Inc		190
	11,239	*	Concert Pharmaceuticals Inc		114
	54,169	*,e	Corcept Therapeutics, Inc		352
	84,568	*	Curis, Inc		221
	25,879	*,e	Cytokinetics, Inc		238
	15,216	*,e	CytomX Therapeutics, Inc		239
	41,833	*,e	CytRx Corp		25
	44,278	*,e,m	Depomed, Inc		1,146
	15,253	*	Dermira, Inc		516
	8,535	*,e	Dimension Therapeutics, Inc		68
	84,059	*	Durect Corp		117
	28,486	*,e	Dynavax Technologies Corp		299
	6,368	*,e	Eagle Pharmaceuticals, Inc		446
	12,202	*,e	Edge Therapeutics, Inc		127
	5,311	*,e	Editas Medicine, Inc		72
	17,506	*,e	Egalet Corp		133
	2,424	*	Eiger BioPharmaceuticals, Inc		32
	721,760		Eli Lilly & Co		57,928
	24,015	*	Emergent Biosolutions, Inc		757
	11,786	*,e	Enanta Pharmaceuticals, Inc		314
	152,236	*	Endo International plc		3,068
	33,769	*,e	Endocyte, Inc		104
	27,058	*	Enzo Biochem, Inc		138
	29,818	*	Epizyme, Inc		293
	9,694	*,e	Esperion Thereapeutics, Inc		134
	71,707	*,e	Exact Sciences Corp		1,332
	165,185	*	Exelixis, Inc		2,113
	38,418	*	FibroGen, Inc		795
	19,800	*,e	Five Prime Therapeutics, Inc		1,039
	7,262	*,e	Flex Pharma, Inc		86
	14,188	*	Flexion Therapeutics Inc		277
	20,851	*,e	Fluidigm Corp		167
	24,951	*,e	Fortress Biotech, Inc		74
	8,878	*,e	Foundation Medicine, Inc		207

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	129,522	*,e	Galena Biopharma, Inc	$	45
	12,920	*	Genomic Health, Inc		374
	114,325	*,e	Geron Corp		258
	985,633		Gilead Sciences, Inc		77,983
	10,061	*,e	Global Blood Therapeutics, Inc		232
	7,728	*,e	GlycoMimetics Inc		55
	79,065	*,e	Halozyme Therapeutics, Inc		955
	23,400	*,e	Heron Therapeutics, Inc		403
	4,132	*	Heska Corp		225
	118,653	*	Horizon Pharma plc		2,151
	62,986	*,e	Idera Pharmaceuticals, Inc		161
	22,215	*	Ignyta, Inc		140
	106,890	*	Illumina, Inc		19,418
	8,484	*	Immune Design Corp		64
	65,469	*,e	Immunogen, Inc		175
	69,521	*,e	Immunomedics, Inc		226
	53,162	*	Impax Laboratories, Inc		1,260
	30,663	*	INC Research Holdings, Inc		1,367
	120,847	*	Incyte Corp		11,395
	36,466	*	Infinity Pharmaceuticals, Inc		57
	63,139	e	Innoviva, Inc		694
	13,739	*,e	Inotek Pharmaceuticals Corp		130
	49,160	*,e	Inovio Pharmaceuticals, Inc		458
	45,452	*	Insmed, Inc		660
	17,481	*,e	Insys Therapeutics, Inc		206
	4,943	*,e	Intellia Therapeutics, Inc		84
	12,146	*,e	Intercept Pharmaceuticals, Inc		1,999
	18,642	*	Intersect ENT, Inc		295
	25,348	*,e	Intra-Cellular Therapies, Inc		386
	41,392	*,e	Intrexon Corp		1,160
	15,922	*,e	Invitae Corp		139
	89,084	*,e	Ionis Pharmaceuticals, Inc		3,264
	95,014	*,e	Ironwood Pharmaceuticals, Inc		1,509
	2,039,744		Johnson & Johnson		240,955
	46,335	*,e	Juno Therapeutics, Inc		1,391
	17,078	*	Karyopharm Therapeutics, Inc		166
	59,203	*,e	Keryx Biopharmaceuticals, Inc		314
	28,782	*,e	Kite Pharma, Inc		1,608
	8,512	*	La Jolla Pharmaceutical Co		203
	19,506	*,e	Lannett Co, Inc		518
	30,110	*,e	Lexicon Pharmaceuticals, Inc		544
	13,029	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,330
	34,093	*,e	Lion Biotechnologies, Inc		281
	11,696	*,e	Lipocine, Inc		52
	9,258	*,e	Loxo Oncology, Inc		242
	31,134	*	Luminex Corp		707
	23,459	*	MacroGenics, Inc		702
	81,217	*	Mallinckrodt plc		5,667
	233,256	*,e	MannKind Corp		145
	18,157	*	Medgenics, Inc		101
	49,764	*,e	Medicines Co		1,878
	22,034	*,e	MediciNova, Inc		165
	2,063,097		Merck & Co, Inc		128,758

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	90,592	*,e	Merrimack Pharmaceuticals, Inc	$	575
	19,507	*	Mettler-Toledo International, Inc		8,190
	79,969	*,e	MiMedx Group, Inc		686
	12,264	*	Minerva Neurosciences, Inc		173
	7,201	*	Mirati Therapeutics, Inc		48
	44,870	*	Momenta Pharmaceuticals, Inc		525
	339,469	*	Mylan NV		12,941
	8,608	*	MyoKardia, Inc		141
	51,524	*,e	Myriad Genetics, Inc		1,060
	10,862	*	NanoString Technologies, Inc		217
	12,660	*,e	NantKwest, Inc		98
	19,889	*,e	Natera, Inc		221
	96,260	*	Nektar Therapeutics		1,654
	38,546	*	NeoGenomics, Inc		317
	10,102	*,e	Neos Therapeutics, Inc		66
	63,342	*	Neurocrine Biosciences, Inc		3,208
	14,869	*	NewLink Genetics Corp		223
	197,815	*,e	Novavax, Inc		411
	9,516	*,e	Ocular Therapeutix, Inc		65
	26,874	*,e	Omeros Corp		300
	12,341	*,e	OncoMed Pharmaceuticals, Inc		141
	22,405	*,e	Ophthotech Corp		1,034
	238,337	*,e	Opko Health, Inc		2,524
	60,008	*,e	Organovo Holdings, Inc		227
	12,630	e	Osiris Therapeutics, Inc		63
	18,209	*	Otonomy, Inc		331
	17,337	*	OvaScience, Inc		124
	55,440	*,e	Pacific Biosciences of California, Inc		497
	27,071	*	Pacira Pharmaceuticals, Inc		926
	9,271	*	Paratek Pharmaceuticals, Inc		121
	40,956	*	Parexel International Corp		2,844
	25,000	*	Patheon NV		741
	120,653		PDL BioPharma, Inc		404
	80,589		PerkinElmer, Inc		4,522
	102,293		Perrigo Co plc		9,445
	12,158	*	Pfenex, Inc		109
	4,474,747		Pfizer, Inc		151,560
	43,415	*	PharmAthene, Inc		126
	12,927		Phibro Animal Health Corp		351
	36,240	*,e	Portola Pharmaceuticals, Inc		823
	14,756	*	PRA Health Sciences, Inc		834
	38,233	*	Prestige Brands Holdings, Inc		1,846
	51,583	*,e	Progenics Pharmaceuticals, Inc		327
	5,062	*	Proteostasis Therapeutics, Inc		79
	25,750	*,e	Prothena Corp plc		1,544
	25,096	*,e	PTC Therapeutics, Inc		352
	18,465	*,e	Puma Biotechnology, Inc		1,238
	173,674	*	Qiagen NV (NASDAQ)		4,766
	61,215	*	Quintiles Transnational Holdings, Inc		4,962
	23,135	*,e	Radius Health, Inc		1,251
	59,500	*	Raptor Pharmaceutical Corp		534
	4,072	*,e	Reata Pharmaceuticals, Inc		107
	58,043	*	Regeneron Pharmaceuticals, Inc		23,334

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	15,571	*	REGENXBIO, Inc	$	218
	29,873	*	Regulus Therapeutics, Inc		99
	23,464	*	Repligen Corp		708
	25,726	*,e	Retrophin, Inc		576
	15,494	*,e	Revance Therapeutics, Inc		251
	66,996	*	Rigel Pharmaceuticals, Inc		246
	19,717	*,e	Sage Therapeutics, Inc		908
	52,234	*	Sangamo Biosciences, Inc		242
	30,737	*,e	Sarepta Therapeutics, Inc		1,888
	38,141	*	Sciclone Pharmaceuticals, Inc		391
	71,265	*,e	Seattle Genetics, Inc		3,849
	13,345	*,e	Seres Therapeutics, Inc		164
	20,814	*,e	Sorrento Therapeutics, Inc		161
	12,588	*,e	Spark Therapeutics, Inc		756
	47,540	*	Spectrum Pharmaceuticals, Inc		222
	12,168	*	Stemline Therapeutics, Inc		132
	18,349	*	Sucampo Pharmaceuticals, Inc (Class A)		226
	34,621	*	Supernus Pharmaceuticals, Inc		856
	2,800	*	Syndax Pharmaceuticals, Inc		42
	131,372	*,e	Synergy Pharmaceuticals, Inc		724
	54,879	*,e	Synthetic Biologics, Inc		94
	7,419	*,e	T2 Biosystems, Inc		54
	29,885	*	Teligent, Inc		227
	17,895	*,e	TESARO, Inc		1,794
	26,726	*	Tetraphase Pharmaceuticals, Inc		102
	26,551	*,e	TG Therapeutics, Inc		206
	98,667	*,e	TherapeuticsMD, Inc		672
	26,724	*,e	Theravance Biopharma, Inc		968
	289,270		Thermo Electron Corp		46,011
	13,797	*,e	Titan Pharmaceuticals, Inc		81
	6,981	*,e	Tobira Therapeutics, Inc		277
	7,534	*,e	Tokai Pharmaceuticals, Inc		12
	32,080	*	Trevena, Inc		217
	17,931	*,e	Trovagene, Inc		81
	26,573	*,e	Ultragenyx Pharmaceutical, Inc		1,885
	33,862	*,e	United Therapeutics Corp		3,998
	26,593	*	Vanda Pharmaceuticals, Inc		443
	20,135	*	Versartis, Inc		247
	183,082	*	Vertex Pharmaceuticals, Inc		15,967
	18,858	*	Vitae Pharmaceuticals, Inc		395
	16,565	*,e	Vital Therapies, Inc		101
	8,673	*,e	Voyager Therapeutics, Inc		104
	57,722	*	VWR Corp		1,637
	57,060	*	Waters Corp		9,043
	5,620	*	WaVe Life Sciences Pte Ltd		182
	8,356	*,e	XBiotech, Inc		112
	23,768	*	Xencor Inc		582
	12,439	*	Zafgen, Inc		41
	90,754	*,e	ZIOPHARM Oncology, Inc		511
	338,766		Zoetis Inc		17,619
	14,763	*	Zogenix, Inc		169
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,459,888

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
REAL ESTATE - 4.3%
	52,319		Acadia Realty Trust	$	1,896
	16,903		Agree Realty Corp		836
	36,954		Alexander & Baldwin, Inc		1,420
	1,574		Alexander’s, Inc		660
	54,203		Alexandria Real Estate Equities, Inc		5,896
	8,343	*	Altisource Portfolio Solutions S.A.		270
	28,646		American Assets Trust,Inc		1,243
	96,842		American Campus Communities, Inc		4,926
	130,151		American Homes 4 Rent		2,816
	313,595		American Tower Corp		35,540
	115,722		Apartment Investment & Management Co (Class A)		5,313
	130,404	e	Apple Hospitality REIT, Inc		2,414
	22,700		Armada Hoffler Properties, Inc		304
	20,771		Ashford Hospitality Prime, Inc		293
	61,750		Ashford Hospitality Trust, Inc		364
	7,072	*,e	AV Homes, Inc		118
	101,923		AvalonBay Communities, Inc		18,126
	13,459		Bluerock Residential Growth REIT, Inc		175
	113,963		Boston Properties, Inc		15,532
	127,370		Brandywine Realty Trust		1,990
	141,963		Brixmor Property Group, Inc		3,945
	64,335		Camden Property Trust		5,387
	61,176		Care Capital Properties, Inc		1,744
	42,178		CareTrust REIT, Inc		623
	29,192		CatchMark Timber Trust Inc		341
	124,137	e	CBL & Associates Properties, Inc		1,507
	222,671	*	CBRE Group, Inc		6,230
	62,949		Cedar Realty Trust, Inc		453
	28,285		Chatham Lodging Trust		545
	44,088		Chesapeake Lodging Trust		1,010
	13,323		City Office REIT, Inc		170
	47,997	e	Colony Starwood Homes		1,378
	92,725		Columbia Property Trust, Inc		2,076
	90,140		Communications Sales & Leasing, Inc		2,831
	9,586		Community Healthcare Trust, Inc		210
	3,235		Consolidated-Tomoka Land Co		166
	5,827		CorEnergy Infrastructure Trust, Inc		171
	24,799		Coresite Realty		1,836
	69,853		Corporate Office Properties Trust		1,980
	86,682		Corrections Corp of America		1,202
	152,535		Cousins Properties, Inc		1,592
	249,922		Crown Castle International Corp		23,545
	131,589		CubeSmart		3,587
	54,639		CyrusOne, Inc		2,599
	65,501		DCT Industrial Trust, Inc		3,180
	227,125		DDR Corp		3,959
	148,119		DiamondRock Hospitality Co		1,348
	109,102		Digital Realty Trust, Inc		10,596
	104,001		Douglas Emmett, Inc		3,810
	256,864		Duke Realty Corp		7,020
	55,010		DuPont Fabros Technology, Inc		2,269
	17,274	e	Easterly Government Properties, Inc		330

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	23,492		EastGroup Properties, Inc	$	1,728
	48,917		Education Realty Trust, Inc		2,110
	89,883		Empire State Realty Trust, Inc		1,883
	46,901		Entertainment Properties Trust		3,693
	51,436		Equinix, Inc		18,530
	93,132	*	Equity Commonwealth		2,814
	61,216		Equity Lifestyle Properties, Inc		4,725
	67,836		Equity One, Inc		2,076
	269,127		Equity Residential		17,313
	48,297		Essex Property Trust, Inc		10,756
	89,496		Extra Space Storage, Inc		7,107
	8,777	e	Farmland Partners, Inc		98
	52,442		Federal Realty Investment Trust		8,072
	100,810		FelCor Lodging Trust, Inc		648
	82,257		First Industrial Realty Trust, Inc		2,321
	42,783		First Potomac Realty Trust		391
	169,880		Forest City Realty Trust, Inc		3,929
	25,631	*,e	Forestar Group, Inc		300
	44,705		Four Corners Property Trust, Inc		954
	72,511		Franklin Street Properties Corp		914
	4,942	*	FRP Holdings, Inc		154
	138,908		Gaming and Leisure Properties, Inc		4,647
	427,695		General Growth Properties, Inc		11,804
	54,016	e	Geo Group, Inc		1,285
	18,198		Getty Realty Corp		436
	15,436		Gladstone Commercial Corp		288
	125,237	*,e	Global Net Lease, Inc		1,022
	51,670	e	Government Properties Income Trust		1,169
	309,774		Gramercy Property Trust		2,986
	347,379		HCP, Inc		13,183
	76,928		Healthcare Realty Trust, Inc		2,620
	100,396		Healthcare Trust of America, Inc		3,275
	36,742		Hersha Hospitality Trust		662
	27,225		HFF, Inc (Class A)		754
	71,216		Highwoods Properties, Inc		3,712
	110,912		Hospitality Properties Trust		3,296
	546,603		Host Marriott Corp		8,511
	26,825	*	Howard Hughes Corp		3,071
	54,955		Hudson Pacific Properties		1,806
	29,912		Independence Realty Trust, Inc		269
	90,609		Investors Real Estate Trust		539
	192,234		Iron Mountain, Inc		7,215
	33,300		Jones Lang LaSalle, Inc		3,789
	61,074		Kennedy-Wilson Holdings, Inc		1,377
	67,058		Kilroy Realty Corp		4,651
	305,650		Kimco Realty Corp		8,849
	60,886		Kite Realty Group Trust		1,688
	60,834		Lamar Advertising Co		3,973
	78,833		LaSalle Hotel Properties		1,882
	162,758		Lexington Realty Trust		1,676
	109,119		Liberty Property Trust		4,403
	33,914		Life Storage, Inc		3,016
	27,155		LTC Properties, Inc		1,412

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	110,934		Macerich Co	$	8,971
	67,066		Mack-Cali Realty Corp		1,826
	9,904	*	Marcus & Millichap, Inc		259
	174,514		Medical Properties Trust, Inc		2,578
	55,794		Mid-America Apartment Communities, Inc		5,244
	46,125		Monmouth Real Estate Investment Corp (Class A)		658
	121,396		Monogram Residential Trust, Inc		1,292
	27,658		National Health Investors, Inc		2,171
	107,146		National Retail Properties, Inc		5,448
	17,361		National Storage Affiliates Trust		364
	55,714		New Senior Investment Group, Inc		643
	124,499		New York REIT, Inc		1,139
	14,395		NexPoint Residential Trust, Inc		283
	42,262		NorthStar Realty Europe Corp		463
	126,786		NorthStar Realty Finance Corp		1,670
	136,847	e	Omega Healthcare Investors, Inc		4,851
	9,027		One Liberty Properties, Inc		218
	101,625		Outfront Media, Inc		2,403
	133,994		Paramount Group, Inc		2,196
	59,009		Parkway Properties, Inc		1,004
	53,141	e	Pebblebrook Hotel Trust		1,414
	52,388		Pennsylvania REIT		1,207
	99,449		Physicians Realty Trust		2,142
	107,121		Piedmont Office Realty Trust, Inc		2,332
	40,153		Post Properties, Inc		2,655
	30,172		Potlatch Corp		1,173
	16,337		Preferred Apartment Communities, Inc		221
	388,040		Prologis, Inc		20,776
	14,667		PS Business Parks, Inc		1,666
	109,722		Public Storage, Inc		24,483
	34,553		QTS Realty Trust, Inc		1,826
	62,959		RAIT Investment Trust		213
	57,913		Ramco-Gershenson Properties		1,085
	92,432		Rayonier, Inc		2,453
	13,117		Re/Max Holdings, Inc		574
	108,646		Realogy Holdings Corp		2,810
	191,583		Realty Income Corp		12,823
	71,394		Regency Centers Corp		5,532
	73,323		Retail Opportunities Investment Corp		1,610
	173,060		Retail Properties of America, Inc		2,907
	48,113		Rexford Industrial Realty, Inc		1,101
	90,156		RLJ Lodging Trust		1,896
	5,123		RMR Group, Inc		194
	32,495		Ryman Hospitality Properties		1,565
	47,769		Sabra Healthcare REIT, Inc		1,203
	6,582		Saul Centers, Inc		438
	45,730		Select Income REIT		1,230
	174,669		Senior Housing Properties Trust		3,967
	18,501	e	Seritage Growth Properties		938
	28,907		Silver Bay Realty Trust Corp		507
	230,221		Simon Property Group, Inc		47,658
	73,589		SL Green Realty Corp		7,955
	354,302		Spirit Realty Capital, Inc		4,723

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	39,283	*,e	St. Joe Co	$	722
	50,811	*	STAG Industrial, Inc		1,245
	112,095		STORE Capital Corp		3,303
	4,495	*	Stratus Properties, Inc		110
	46,368		Sun Communities, Inc		3,639
	158,957		Sunstone Hotel Investors, Inc		2,033
	70,998		Tanger Factory Outlet Centers, Inc		2,766
	43,997		Taubman Centers, Inc		3,274
	10,268	*	Tejon Ranch Co		250
	31,885		Terreno Realty Corp		877
	34,663		Tier REIT, Inc		535
	13,643	*	Trinity Place Holdings, Inc		133
	197,090		UDR, Inc		7,093
	15,857		UMH Properties, Inc		189
	9,264		Universal Health Realty Income Trust		584
	66,647		Urban Edge Properties		1,875
	20,808		Urstadt Biddle Properties, Inc (Class A)		462
	251,154		Ventas, Inc		17,739
	672,745		VEREIT, Inc		6,976
	132,088		Vornado Realty Trust		13,369
	139,812		Washington Prime Group, Inc		1,731
	50,804		Washington REIT		1,581
	86,814		Weingarten Realty Investors		3,384
	265,618		Welltower, Inc		19,860
	548,600		Weyerhaeuser Co		17,522
	19,472		Whitestone REIT		270
	76,656		WP Carey, Inc		4,947
	79,064		Xenia Hotels & Resorts, Inc		1,200
			TOTAL REAL ESTATE		722,181
RETAILING - 5.1%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		168
	48,207		Aaron’s, Inc		1,225
	51,631		Abercrombie & Fitch Co (Class A)		820
	52,604		Advance Auto Parts, Inc		7,844
	288,873	*	Amazon.com, Inc		241,877
	122,461		American Eagle Outfitters, Inc		2,187
	6,968	*,e	America’s Car-Mart, Inc		254
	14,849	*	Asbury Automotive Group, Inc		827
	125,805	*,e	Ascena Retail Group, Inc		703
	48,275	*	Autonation, Inc		2,351
	21,875	*	AutoZone, Inc		16,807
	29,015	*	Barnes & Noble Education, Inc		278
	36,768		Barnes & Noble, Inc		415
	107,825		Bed Bath & Beyond, Inc		4,648
	204,689		Best Buy Co, Inc		7,815
	14,390		Big 5 Sporting Goods Corp		196
	36,770		Big Lots, Inc		1,756
	8,578		Blue Nile, Inc		295
	8,549	*,e	Boot Barn Holdings, Inc		97
	21,122	e	Buckle, Inc		508
	8,786	*	Build-A-Bear Workshop, Inc		91
	52,052	*	Burlington Stores, Inc		4,217

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	37,763	*	Cabela’s, Inc	$	2,074
	32,106		Caleres, Inc		812
	143,597	*	Carmax, Inc		7,661
	19,356		Cato Corp (Class A)		637
	106,541		Chico’s FAS, Inc		1,268
	13,847		Children’s Place Retail Stores, Inc		1,106
	11,556		Citi Trends, Inc		230
	11,400	*	Container Store Group, Inc		57
	34,312		Core-Mark Holding Co, Inc		1,228
	55,443		CST Brands, Inc		2,666
	32,976	*	Destination XL Group, Inc		143
	64,932		Dick’s Sporting Goods, Inc		3,683
	13,964	e	Dillard’s, Inc (Class A)		880
	208,864		Dollar General Corp		14,618
	167,177	*	Dollar Tree, Inc		13,195
	54,370		DSW, Inc (Class A)		1,114
	7,236	*,e	Duluth Holdings, Inc		192
	76,812	*,e	Etsy, Inc		1,097
	88,502		Expedia, Inc		10,330
	55,323	*	Express Parent LLC		652
	33,805		Finish Line, Inc (Class A)		780
	40,021	*,e	Five Below, Inc		1,612
	99,154		Foot Locker, Inc		6,715
	31,625	*	Francesca’s Holdings Corp		488
	27,215		Fred’s, Inc (Class A)		247
	13,967	*	FTD Cos, Inc		287
	75,607	e	GameStop Corp (Class A)		2,086
	164,788	e	Gap, Inc		3,665
	15,061	*	Genesco, Inc		820
	108,483		Genuine Parts Co		10,897
	50,651		GNC Holdings, Inc		1,034
	15,433		Group 1 Automotive, Inc		986
	273,128	*	Groupon, Inc		1,407
	44,451		Guess?, Inc		649
	16,062		Haverty Furniture Cos, Inc		322
	16,994	*,e	Hibbett Sports, Inc		678
	926,578		Home Depot, Inc		119,232
	24,109		HSN, Inc		960
	228,517	*,e	JC Penney Co, Inc		2,107
	12,718		Kirkland’s, Inc		155
	133,211		Kohl’s Corp		5,828
	177,833		L Brands, Inc		12,585
	12,586	*,e	Lands’ End, Inc		183
	329,671	*	Liberty Interactive Corp		6,597
	53,282	*	Liberty TripAdvisor Holdings, Inc		1,164
	98,671	*	Liberty Ventures		3,934
	16,930		Lithia Motors, Inc (Class A)		1,617
	225,488	*	LKQ Corp		7,996
	662,639		Lowe’s Companies, Inc		47,849
	19,294	*,e	Lumber Liquidators, Inc		380
	229,133		Macy’s, Inc		8,489
	18,578	*	MarineMax, Inc		389
	59,722	*	Michaels Cos, Inc		1,443

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	23,604		Monro Muffler, Inc	$	1,444
	26,054	*	Murphy USA, Inc		1,859
	304,909	*	NetFlix, Inc		30,049
	91,431	e	Nordstrom, Inc		4,743
	20,499		Nutri/System, Inc		609
	405,707		Office Depot, Inc		1,448
	12,772	*,e	Ollie’s Bargain Outlet Holdings, Inc		335
	70,238	*	O’Reilly Automotive, Inc		19,674
	8,893	*	Overstock.com, Inc		136
	17,507	*,e	Party City Holdco, Inc		300
	28,675	e	Penske Auto Group, Inc		1,382
	5,700	e	PetMed Express, Inc		116
	59,095	e	Pier 1 Imports, Inc		251
	36,900	*	Priceline.com, Inc		54,298
	38,310		Rent-A-Center, Inc		484
	25,037	*,e	Restoration Hardware Holdings, Inc		866
	292,668		Ross Stores, Inc		18,819
	107,246	*,e	Sally Beauty Holdings, Inc		2,754
	9,887	*,e	Sears Holdings Corp		113
	38,951	*	Select Comfort Corp		841
	10,447		Shoe Carnival, Inc		279
	25,881	*	Shutterfly, Inc		1,155
	58,262		Signet Jewelers Ltd		4,342
	20,728		Sonic Automotive, Inc (Class A)		390
	19,952	*	Sportsman’s Warehouse Holdings, Inc		210
	25,073	e	Stage Stores, Inc		141
	477,765		Staples, Inc		4,085
	21,273		Stein Mart, Inc		135
	36,113		Tailored Brands, Inc		567
	437,831		Target Corp		30,070
	81,351	e	Tiffany & Co		5,909
	24,339	*,e	Tile Shop Holdings, Inc		403
	6,790	*	Tilly’s, Inc		64
	490,150		TJX Companies, Inc		36,653
	96,551		Tractor Supply Co		6,503
	84,546	*	TripAdvisor, Inc		5,342
	32,864	*	Tuesday Morning Corp		197
	43,466	*	Ulta Salon Cosmetics & Fragrance, Inc		10,344
	64,021	*	Urban Outfitters, Inc		2,210
	22,533	*	Vitamin Shoppe, Inc		605
	23,281	*,e	Wayfair, Inc		917
	11,292	*	West Marine, Inc		93
	65,447	e	Williams-Sonoma, Inc		3,343
	1,945		Winmark Corp		205
	15,828	*,e	Zumiez, Inc		285
			TOTAL RETAILING		867,571
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.1%
	3,767	*,e	Acacia Communications, Inc		389
	29,482	*	Advanced Energy Industries, Inc		1,395
	476,593	*,e	Advanced Micro Devices, Inc		3,293
	15,539	*	Alpha & Omega Semiconductor Ltd		337
	23,188	*,e	Ambarella, Inc		1,707

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	73,241	*	Amkor Technology, Inc	$	712
	225,080		Analog Devices, Inc		14,506
	810,280		Applied Materials, Inc		24,430
	59,771	*	Applied Micro Circuits Corp		415
	20,849	*	Axcelis Technologies, Inc		277
	279,346		Broadcom Ltd		48,193
	52,087		Brooks Automation, Inc		709
	17,924		Cabot Microelectronics Corp		948
	47,258	*,e	Cavium, Inc		2,750
	15,710	*	Ceva, Inc		551
	46,294	*	Cirrus Logic, Inc		2,461
	18,761		Cohu, Inc		220
	79,931	*	Cree, Inc		2,056
	244,851	e	Cypress Semiconductor Corp		2,977
	28,713	*	Diodes, Inc		613
	19,178	*	DSP Group, Inc		230
	105,554	*	Entegris, Inc		1,839
	28,026	*	Exar Corp		261
	54,056	*,e	First Solar, Inc		2,135
	47,336	*	Formfactor, Inc		514
	30,864	*	GigOptix, Inc		73
	29,376	*	Inphi Corp		1,278
	99,540	*	Integrated Device Technology, Inc		2,299
	3,501,435		Intel Corp		132,179
	96,768		Intersil Corp (Class A)		2,122
	16,725		IXYS Corp		202
	115,945		Kla-Tencor Corp		8,082
	50,517	*	Kopin Corp		110
	117,308	e	Lam Research Corp		11,110
	90,159	*	Lattice Semiconductor Corp		585
	176,955		Linear Technology Corp		10,492
	17,278	*,e	MA-COM Technology Solutions		732
	334,640		Marvell Technology Group Ltd		4,441
	206,782		Maxim Integrated Products, Inc		8,257
	40,851	*	MaxLinear, Inc		828
	156,190	e	Microchip Technology, Inc		9,706
	769,984	*	Micron Technology, Inc		13,690
	80,866	*	Microsemi Corp		3,395
	39,433		MKS Instruments, Inc		1,961
	29,204		Monolithic Power Systems, Inc		2,351
	18,167	*	Nanometrics, Inc		406
	21,168	*	NeoPhotonics Corp Ltd		346
	3,184		NVE Corp		188
	383,963		Nvidia Corp		26,309
	306,305	*	ON Semiconductor Corp		3,774
	20,605	*	PDF Solutions, Inc		374
	46,544	*	Photronics, Inc		480
	22,599		Power Integrations, Inc		1,424
	101,737	*	Qorvo, Inc		5,671
	1,093,542		Qualcomm, Inc		74,908
	84,186	*	Rambus, Inc		1,052
	25,190	*	Rudolph Technologies, Inc		447
	49,258	*	Semtech Corp		1,366

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	25,567	*	Sigma Designs, Inc	$	199
	32,473	*	Silicon Laboratories, Inc		1,909
	141,463		Skyworks Solutions, Inc		10,771
	42,585	*,e	SunPower Corp		380
	151,007		Teradyne, Inc		3,259
	39,803		Tessera Technologies, Inc		1,530
	741,767		Texas Instruments, Inc		52,057
	23,500	*	Ultra Clean Holdings		174
	21,651	*	Ultratech, Inc		500
	29,696	*,e	Veeco Instruments, Inc		583
	37,527	*	Xcerra Corp		227
	191,407		Xilinx, Inc		10,401
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		526,546
SOFTWARE & SERVICES - 12.3%
	27,302	*,e	2U, Inc		1,045
	32,215	*	A10 Networks, Inc		344
	460,410		Accenture plc		56,248
	86,241	*	ACI Worldwide, Inc		1,671
	406,012		Activision Blizzard, Inc		17,986
	32,107	*	Actua Corp		416
	57,158	*	Acxiom Corp		1,523
	362,937	*	Adobe Systems, Inc		39,393
	129,082	*	Akamai Technologies, Inc		6,840
	5,086	*	Alarm.com Holdings, Inc		147
	13,975	*,e	ALJ Regional Holdings, Inc		66
	45,118	*	Alliance Data Systems Corp		9,679
	218,233	*	Alphabet, Inc (Class A)		175,472
	220,163	*	Alphabet, Inc (Class C)		171,131
	11,882	*	Amber Road, Inc		115
	109,997		Amdocs Ltd		6,363
	15,720	*	American Software, Inc (Class A)		174
	32,146	*,e	Angie’s List, Inc		319
	65,392	*	Ansys, Inc		6,056
	11,306	*	Apigee Corp		197
	7,274	*,e	Appfolio, Inc		141
	63,153	*	Aspen Technology, Inc		2,955
	13,706	*	Atlassian Corp plc		411
	6,972	*	Autobytel, Inc		124
	156,960	*	Autodesk, Inc		11,353
	334,728		Automatic Data Processing, Inc		29,523
	34,946	*	Bankrate, Inc		296
	16,098	*	Barracuda Networks, Inc		410
	59,668	*	Bazaarvoice, Inc		353
	9,345	*,e	Benefitfocus, Inc		373
	17,356	*,e	Black Knight Financial Services, Inc		710
	35,258		Blackbaud, Inc		2,339
	40,135	*	Blackhawk Network Holdings, Inc		1,211
	30,473	*	Blucora, Inc		341
	84,561		Booz Allen Hamilton Holding Co		2,673
	29,562	*	Bottomline Technologies, Inc		689
	35,331	*,e	Box, Inc		557
	20,694	*	Brightcove, Inc		270

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	83,779		Broadridge Financial Solutions, Inc	$	5,679
	21,331	*	BroadSoft, Inc		993
	216,421		CA, Inc		7,159
	17,838	*	CACI International, Inc (Class A)		1,800
	216,614	*	Cadence Design Systems, Inc		5,530
	40,638	*	Callidus Software, Inc		746
	13,412	*	Carbonite, Inc		206
	33,955	*	Cardtronics plc		1,514
	13,954	*	Care.com, Inc		139
	8,603		Cass Information Systems, Inc		487
	115,322		CDK Global, Inc		6,615
	15,814	*	ChannelAdvisor Corp		204
	18,524	*,e	Cimpress NV		1,874
	115,363	*	Citrix Systems, Inc		9,831
	448,762	*	Cognizant Technology Solutions Corp (Class A)		21,410
	19,734	*	CommerceHub, Inc		314
	9,867	*	CommerceHub, Inc (Series A)		156
	33,614	*	Commvault Systems, Inc		1,786
	102,849		Computer Sciences Corp		5,370
	35,972	*	comScore, Inc		1,103
	73,137		Convergys Corp		2,225
	37,259	*	Cornerstone OnDemand, Inc		1,712
	23,982	*	CoStar Group, Inc		5,193
	24,883		CSG Systems International, Inc		1,028
	121,590		CSRA, Inc		3,271
	21,413	*	Cvent, Inc		679
	15,267	*	Datalink Corp		162
	160,582	*	Dell Technologies, Inc-VMware Inc		7,676
	32,513	*	DHI Group, Inc		257
	5,437	*,e	Digimarc Corp		209
	25,409		DST Systems, Inc		2,996
	77,306		EarthLink Holdings Corp		479
	796,847	*	eBay, Inc		26,216
	19,966	e	Ebix, Inc		1,135
	216,257	*	Electronic Arts, Inc		18,468
	21,694	*	Ellie Mae, Inc		2,284
	43,380	*,e	Endurance International Group Holdings, Inc		380
	20,747	*,e	EnerNOC, Inc		112
	30,234	*	Envestnet, Inc		1,102
	35,527	*	EPAM Systems, Inc		2,462
	17,553		EPIQ Systems, Inc		289
	37,881	*	Euronet Worldwide, Inc		3,100
	48,388		EVERTEC, Inc		812
	20,873	*	Everyday Health, Inc		161
	9,749	*	EXA Corp		156
	24,918	*	ExlService Holdings, Inc		1,242
	1,670,221	*	Facebook, Inc		214,239
	23,064		Fair Isaac Corp		2,874
	241,246		Fidelity National Information Services, Inc		18,583
	112,549	*,e	FireEye, Inc		1,658
	67,170	*	First American Corp		2,634
	232,771	*	First Data Corp		3,063
	164,907	*	Fiserv, Inc		16,403

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	24,005	*	Five9, Inc	$	376
	67,800	*	FleetCor Technologies, Inc		11,779
	28,477	*	FleetMatics Group plc		1,708
	8,265		Forrester Research, Inc		322
	107,542	*	Fortinet, Inc		3,972
	61,489	*	Gartner, Inc		5,439
	118,380	*	Genpact Ltd		2,835
	23,742	*	Gigamon, Inc		1,301
	113,930		Global Payments, Inc		8,745
	5,647	*	Global Sources Ltd		48
	18,803	*,e	Globant S.A.		792
	88,947	*,e	Glu Mobile, Inc		199
	34,640	*,e	GoDaddy, Inc		1,196
	42,541	*,e	Gogo, Inc		470
	59,590	*,e	GrubHub, Inc		2,562
	18,192	*	GTT Communications, Inc		428
	13,242	*	Guidance Software, Inc		79
	51,316	*	Guidewire Software, Inc		3,078
	17,956		Hackett Group, Inc		297
	29,372	*,e	Hortonworks, Inc		245
	21,312	*	HubSpot, Inc		1,228
	52,417		IAC/InterActiveCorp		3,274
	21,130	*	Imperva, Inc		1,135
	45,794	*	inContact, Inc		640
	41,826	*	Infoblox, Inc		1,103
	24,668	*	Information Services Group, Inc		98
	7,972	*,e	Instructure, Inc		202
	12,605	*	Interactive Intelligence, Inc		758
	654,718		International Business Machines Corp		104,002
	30,239	*	Intralinks Holdings, Inc		304
	179,875		Intuit, Inc		19,788
	35,564		j2 Global, Inc		2,369
	54,490		Jack Henry & Associates, Inc		4,662
	40,906	*	Jive Software, Inc		174
	97,760		Leidos Holdings, Inc		4,231
	50,961	*	Limelight Networks, Inc		95
	87,296	*	LinkedIn Corp		16,684
	44,720	*	Lionbridge Technologies		224
	19,090	*	Liquidity Services, Inc		215
	40,701	*	Liveperson, Inc		342
	18,232	e	LogMeIn, Inc		1,648
	53,305	*	Manhattan Associates, Inc		3,071
	18,418		Mantech International Corp (Class A)		694
	25,119		Marchex, Inc (Class B)		70
	712,649		MasterCard, Inc (Class A)		72,526
	24,371	*,e	Match Group, Inc		434
	48,838		MAXIMUS, Inc		2,762
	31,242	*,e	MeetMe, Inc		194
	73,403		Mentor Graphics Corp		1,941
	5,628,256		Microsoft Corp		324,188
	6,844	*	MicroStrategy, Inc (Class A)		1,146
	10,993	*,e	MINDBODY, Inc		216
	22,456	*,e	Mitek Systems, Inc		186

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	29,654	*	MobileIron, Inc	$	82
	14,483	*	Model N, Inc		161
	22,389	*	MoneyGram International, Inc		159
	29,292		Monotype Imaging Holdings, Inc		648
	70,908	*	Monster Worldwide, Inc		256
	3,876		NCI, Inc (Class A)		45
	29,548	*	NetSuite, Inc		3,271
	39,936	*,e	NeuStar, Inc (Class A)		1,062
	16,291	*,e	New Relic, Inc		624
	48,579		NIC, Inc		1,142
	165,822	*	Nuance Communications, Inc		2,404
	10,739	*	Numerex Corp		84
	2,189,790		Oracle Corp		86,015
	163,222	*,e	Pandora Media, Inc		2,339
	7,197	*,e	Park City Group, Inc		85
	233,438		Paychex, Inc		13,509
	32,485	*,e	Paycom Software, Inc		1,628
	15,762	*,e	Paylocity Holding Corp		701
	840,291	*	PayPal Holdings, Inc		34,427
	24,918		Pegasystems, Inc		735
	25,493	*	Perficient, Inc		514
	8,684	*	PFSweb, Inc		78
	30,646	*	Planet Payment, Inc		114
	38,195	*	Progress Software Corp		1,039
	30,192	*,e	Proofpoint, Inc		2,260
	17,256	*	PROS Holdings, Inc		390
	85,331	*	PTC, Inc		3,781
	18,985	*	Q2 Holdings, Inc		544
	7,729		QAD, Inc (Class A)		173
	20,132	*	Qualys, Inc		769
	20,643	*	QuinStreet, Inc		62
	45,152	*,e	Quotient Technology, Inc		601
	79,313	*	Rackspace Hosting, Inc		2,513
	14,504	*,e	Rapid7, Inc		256
	18,038	*,e	RealNetworks, Inc		80
	39,496	*	RealPage, Inc		1,015
	135,645	*	Red Hat, Inc		10,964
	6,528		Reis, Inc		134
	28,776	*	RetailMeNot, Inc		285
	8,995	*	Rightside Group Ltd		82
	43,553	*	RingCentral, Inc		1,030
	13,437	*	Rosetta Stone, Inc		114
	27,990	*	Rubicon Project, Inc		232
	151,223		Sabre Corp		4,261
	476,077	*	Salesforce.com, Inc		33,959
	17,304		Sapiens International Corp NV		221
	34,016		Science Applications International Corp		2,360
	4,599	*	SecureWorks Corp		58
	117,075	*	ServiceNow, Inc		9,266
	46,932	*	ServiceSource International LLC		229
	14,547	*,e	Shutterstock, Inc		927
	26,176	*	Silver Spring Networks, Inc		371
	97,313	*	Splunk, Inc		5,710

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	12,246	*	SPS Commerce, Inc	$	899
	38,308	*,e	Square, Inc		447
	113,138		SS&C Technologies Holdings, Inc		3,637
	11,844	*,e	Stamps.com, Inc		1,119
	29,262	*	Sykes Enterprises, Inc		823
	456,048		Symantec Corp		11,447
	30,290	*	Synchronoss Technologies, Inc		1,247
	107,461	*	Synopsys, Inc		6,378
	23,254	*,e	Syntel, Inc		975
	40,894	*	Tableau Software, Inc		2,260
	62,894	*	Take-Two Interactive Software, Inc		2,835
	29,444	*	Tangoe, Inc		243
	12,153	*	TechTarget, Inc		98
	20,400	*	TeleNav, Inc		117
	13,212		TeleTech Holdings, Inc		383
	100,027	*	Teradata Corp		3,101
	87,321	*	TiVo Corp		1,701
	123,217		Total System Services, Inc		5,810
	85,621		Travelport Worldwide Ltd		1,287
	36,314	*,e	TrueCar, Inc		343
	16,240	*,e	TubeMogul, Inc		152
	8,500	*	Twilio, Inc		547
	470,865	*,e	Twitter, Inc		10,853
	24,473	*	Tyler Technologies, Inc		4,191
	20,396	*	Ultimate Software Group, Inc		4,169
	38,674	*,e	Unisys Corp		377
	114,898	*	Vantiv, Inc		6,465
	7,614	*	Varonis Systems, Inc		229
	21,489	*	Vasco Data Security International		378
	45,384	*	Verint Systems, Inc		1,708
	70,442	*,e	VeriSign, Inc		5,511
	32,131	*,e	VirnetX Holding Corp		98
	21,946	*	Virtusa Corp		542
	1,412,017		Visa, Inc (Class A)		116,774
	60,583	*,e	VMware, Inc (Class A)		4,444
	27,576	*,e	WebMD Health Corp (Class A)		1,371
	32,723	*	Website Pros, Inc		565
	368,084		Western Union Co		7,664
	28,569	*	WEX, Inc		3,088
	86,519	*	Workday, Inc		7,933
	16,351	*	Workiva, Inc		296
	16,652	*	Xactly Corp		245
	750,019		Xerox Corp		7,598
	19,259	*	XO Group, Inc		372
	645,675	*	Yahoo!, Inc		27,829
	49,133	*,e	Yelp, Inc		2,049
	60,059	*	Zendesk, Inc		1,844
	38,071	*,e	Zillow Group, Inc		1,312
	76,096	*,e	Zillow Group, Inc (Class C)		2,637
	47,197	*	Zix Corp		194
	565,694	*	Zynga, Inc		1,646
			TOTAL SOFTWARE & SERVICES		2,084,565

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
TECHNOLOGY HARDWARE & EQUIPMENT - 5.1%
	80,518	*,e	3D Systems Corp	$	1,445
	39,852		Adtran, Inc		763
	16,323	*	Aerohive Networks, Inc		99
	11,056	*	Agilysys, Inc		123
	222,925		Amphenol Corp (Class A)		14,472
	21,094	*	Anixter International, Inc		1,361
	4,073,984		Apple, Inc		460,564
	11,231	*,e	Applied Optoelectronics, Inc		249
	28,921	*,e	Arista Networks, Inc		2,461
	133,254	*	ARRIS International plc		3,775
	66,366	*	Arrow Electronics, Inc		4,245
	24,161	*	Avid Technology, Inc		192
	92,405		Avnet, Inc		3,794
	34,410		AVX Corp		475
	20,748		Badger Meter, Inc		695
	7,316		Bel Fuse, Inc (Class B)		177
	30,967		Belden CDT, Inc		2,136
	39,122	*	Benchmark Electronics, Inc		976
	12,526		Black Box Corp		174
	345,833		Brocade Communications Systems, Inc		3,192
	26,799	*	CalAmp Corp		374
	28,887	*	Calix, Inc		212
	120,330		CDW Corp		5,503
	101,053	*	Ciena Corp		2,203
	3,728,835		Cisco Systems, Inc		118,279
	8,964	*	Clearfield, Inc		169
	60,271		Cognex Corp		3,186
	17,685	*	Coherent, Inc		1,955
	94,899	*	CommScope Holding Co, Inc		2,857
	11,551		Comtech Telecommunications Corp		148
	15,682	*	Control4 Corp		193
	800,051		Corning, Inc		18,921
	16,854		CPI Card Group, Inc		102
	29,620	*	Cray, Inc		697
	23,637		CTS Corp		440
	27,847		Daktronics, Inc		266
	47,853		Diebold, Inc		1,186
	18,652	*	Digi International, Inc		213
	36,841		Dolby Laboratories, Inc (Class A)		2,000
	13,244		DTS, Inc		563
	13,533	*,e	Eastman Kodak Co		203
	32,770	*	EchoStar Corp (Class A)		1,436
	21,493		Electro Scientific Industries, Inc		121
	35,264	*	Electronics for Imaging, Inc		1,725
	18,982		EMCORE Corp		108
	4,639	*	ePlus, Inc		438
	79,396	*	Extreme Networks, Inc		357
	49,815	*	F5 Networks, Inc		6,209
	26,560	*	Fabrinet		1,184
	12,851	*	FARO Technologies, Inc		462
	76,718	*	Finisar Corp		2,286
	94,067	*,e	Fitbit, Inc		1,396

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	104,125		Flir Systems, Inc	$	3,272
	67,185	*,e	Harmonic, Inc		398
	91,398		Harris Corp		8,373
	1,267,674		Hewlett Packard Enterprise Co		28,840
	1,269,771		HP, Inc		19,720
	43,712	*	II-VI, Inc		1,064
	21,661	*,e	Immersion Corp		177
	103,799	*	Infinera Corp		937
	107,218		Ingram Micro, Inc (Class A)		3,823
	26,955	*	Insight Enterprises, Inc		877
	26,730		InterDigital, Inc		2,117
	57,029	*	InvenSense, Inc		423
	25,418	*	IPG Photonics Corp		2,093
	28,730	*	Itron, Inc		1,602
	47,261	*	Ixia		591
	143,551		Jabil Circuit, Inc		3,132
	291,880		Juniper Networks, Inc		7,023
	125,388	*	Keysight Technologies, Inc		3,974
	21,162	*	Kimball Electronics, Inc		293
	64,648	*,e	Knowles Corp		908
	10,929	*	KVH Industries, Inc		96
	45,344		Lexmark International, Inc (Class A)		1,812
	16,323		Littelfuse, Inc		2,103
	37,299	*	Lumentum Holdings, Inc		1,558
	24,482	*,e	Maxwell Technologies, Inc		126
	1,988		Mesa Laboratories, Inc		227
	26,896		Methode Electronics, Inc		941
	126,381		Motorola, Inc		9,640
	11,234		MTS Systems Corp		517
	76,834		National Instruments Corp		2,182
	91,730	*	NCR Corp		2,953
	215,405		NetApp, Inc		7,716
	23,887	*	Netgear, Inc		1,445
	70,523	*	Netscout Systems, Inc		2,063
	45,808	*,e	Nimble Storage, Inc		405
	25,552	*	Novanta, Inc		443
	72,862	*	Oclaro, Inc		623
	14,702	*	OSI Systems, Inc		961
	64,548	*	Palo Alto Networks, Inc		10,284
	16,460		Park Electrochemical Corp		286
	8,216		PC Connection, Inc		217
	24,496		Plantronics, Inc		1,273
	25,402	*	Plexus Corp		1,188
	44,500	*,e	Pure Storage, Inc		603
	26,581	*	Radisys Corp		142
	21,664	*	Rofin-Sinar Technologies, Inc		697
	13,791	*	Rogers Corp		842
	44,266	*	Sanmina Corp		1,260
	21,738	*	Scansource, Inc		793
	49,410	*	ShoreTel, Inc		395
	3,876		Silicom Ltd		161
	25,143	*	Silicon Graphics International Corp		194
	37,508	*	Sonus Networks, Inc		292

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	37,383	*,e	Stratasys Ltd	$	901
	27,221	*	Super Micro Computer, Inc		636
	27,223	*	Synaptics, Inc		1,595
	21,522		SYNNEX Corp		2,456
	9,938		Systemax, Inc		79
	25,846	*	Tech Data Corp		2,189
	187,156	*	Trimble Navigation Ltd		5,345
	53,380	*	TTM Technologies, Inc		611
	19,221	*,e	Ubiquiti Networks, Inc		1,028
	30,627	*,e	Universal Display Corp		1,700
	28,420	*,e	USA Technologies, Inc		159
	84,224	*	VeriFone Systems, Inc		1,326
	32,775	*,e	Viasat, Inc		2,447
	173,185	*	Viavi Solutions, Inc		1,280
	100,754		Vishay Intertechnology, Inc		1,420
	9,508	*	Vishay Precision Group, Inc		152
	204,780		Western Digital Corp		11,974
	38,312	*	Zebra Technologies Corp (Class A)		2,667
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		858,800
TELECOMMUNICATION SERVICES - 2.4%
	66,124	*	8x8, Inc		1,020
	4,572,081		AT&T, Inc		185,672
	7,918		ATN International, Inc		515
	27,406	*	Boingo Wireless, Inc		282
	399,481		CenturyTel, Inc		10,958
	149,815	*	Cincinnati Bell, Inc		611
	34,230		Cogent Communications Group, Inc		1,260
	38,388		Consolidated Communications Holdings, Inc		969
	16,551	*	Fairpoint Communications, Inc		249
	861,250	e	Frontier Communications Corp		3,583
	24,304	*	General Communication, Inc (Class A)		334
	280,242	*,e	Globalstar, Inc		339
	7,568	*	Hawaiian Telcom Holdco, Inc		170
	10,513		IDT Corp (Class B)		181
	25,073		Inteliquent, Inc		405
	60,764	*,e	Iridium Communications, Inc		493
	217,035	*	Level 3 Communications, Inc		10,066
	16,622	*	Lumos Networks Corp		233
	28,412	*,e	NII Holdings, Inc		95
	44,329	*	Orbcomm, Inc		454
	9,439	*	pdvWireless, Inc		216
	95,804	*	SBA Communications Corp (Class A)		10,745
	36,302		Shenandoah Telecom Co		988
	17,224		Spok Holdings, Inc		307
	563,564	*,e	Sprint Corp		3,736
	6,721	*,e	Straight Path Communications, Inc		172
	70,982		Telephone & Data Systems, Inc		1,929
	212,044	*	T-Mobile US, Inc		9,907
	9,529	*	US Cellular Corp		346
	3,038,873		Verizon Communications, Inc		157,961
	137,981	*	Vonage Holdings Corp		912
	71,392	e	Windstream Holdings, Inc		718

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	111,019	*	Zayo Group Holdings, Inc	$	3,298
			TOTAL TELECOMMUNICATION SERVICES		409,124
TRANSPORTATION - 2.1%
	40,179	*	Air Transport Services Group, Inc		577
	88,863		Alaska Air Group, Inc		5,852
	9,487		Allegiant Travel Co		1,253
	4,641		Amerco, Inc		1,505
	392,244		American Airlines Group, Inc		14,360
	19,331		Arkansas Best Corp		368
	18,341	*	Atlas Air Worldwide Holdings, Inc		785
	62,902	*	Avis Budget Group, Inc		2,152
	20,049		Celadon Group, Inc		175
	105,693		CH Robinson Worldwide, Inc		7,447
	24,453		Copa Holdings S.A. (Class A)		2,150
	8,672	*	Covenant Transportation Group, Inc		168
	710,093		CSX Corp		21,658
	570,622		Delta Air Lines, Inc		22,460
	21,969	*	Echo Global Logistics, Inc		507
	134,751		Expeditors International of Washington, Inc		6,942
	185,697		FedEx Corp		32,438
	22,919		Forward Air Corp		991
	41,033	*	Genesee & Wyoming, Inc (Class A)		2,829
	35,630	*	Hawaiian Holdings, Inc		1,732
	36,950		Heartland Express, Inc		698
	53,667	*	Hertz Global Holdings, Inc		2,155
	24,562	*	Hub Group, Inc (Class A)		1,001
	65,830		J.B. Hunt Transport Services, Inc		5,341
	230,681	*	JetBlue Airways Corp		3,977
	80,060		Kansas City Southern Industries, Inc		7,471
	39,101	*	Kirby Corp		2,431
	49,465		Knight Transportation, Inc		1,419
	31,224		Landstar System, Inc		2,126
	55,340		Macquarie Infrastructure Co LLC		4,606
	17,739		Marten Transport Ltd		373
	32,238		Matson, Inc		1,286
	219,669		Norfolk Southern Corp		21,321
	50,044	*	Old Dominion Freight Line		3,434
	2,470	*	PAM Transportation Services, Inc		49
	6,136		Park-Ohio Holdings Corp		224
	29,335	*	Radiant Logistics, Inc		83
	20,933	*	Roadrunner Transportation Services Holdings, Inc		167
	39,438		Ryder System, Inc		2,601
	18,094	*	Saia, Inc		542
	37,279		Skywest, Inc		985
	475,324		Southwest Airlines Co		18,485
	53,061	*	Spirit Airlines, Inc		2,257
	63,781	*,e	Swift Transportation Co, Inc		1,369
	630,233		Union Pacific Corp		61,466
	249,328	*	United Continental Holdings, Inc		13,082
	510,697		United Parcel Service, Inc (Class B)		55,850
	6,297		Universal Truckload Services, Inc		84
	7,128	*	USA Truck, Inc		73

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	14,213	*,e	Virgin America, Inc	$	761
	32,839		Werner Enterprises, Inc		764
	44,920	*	Wesco Aircraft Holdings, Inc		603
	67,462	*,e	XPO Logistics, Inc		2,474
	23,809	*,e	YRC Worldwide, Inc		293
			TOTAL TRANSPORTATION		346,200
UTILITIES - 3.3%
	502,237		AES Corp		6,454
	36,666		Allete, Inc		2,186
	168,853		Alliant Energy Corp		6,469
	179,688		Ameren Corp		8,837
	366,238		American Electric Power Co, Inc		23,516
	29,456		American States Water Co		1,180
	132,288		American Water Works Co, Inc		9,900
	132,006		Aqua America, Inc		4,024
	4,909		Artesian Resources Corp		140
	92,825		Atlantic Power Corp		229
	43,641	e	Atlantica Yield plc		830
	73,233		Atmos Energy Corp		5,454
	41,780		Avangrid, Inc		1,746
	45,672		Avista Corp		1,909
	38,044	e	Black Hills Corp		2,329
	35,650		California Water Service Group		1,144
	276,377	*	Calpine Corp		3,493
	320,765		Centerpoint Energy, Inc		7,451
	10,716		Chesapeake Utilities Corp		654
	203,302		CMS Energy Corp		8,541
	8,405		Connecticut Water Service, Inc		418
	226,566		Consolidated Edison, Inc		17,060
	10,961		Consolidated Water Co, Inc		127
	4,925	e	Delta Natural Gas Co, Inc		118
	456,632		Dominion Resources, Inc		33,914
	133,148		DTE Energy Co		12,472
	512,628		Duke Energy Corp		41,031
	85,842	*	Dynegy, Inc		1,064
	239,987		Edison International		17,339
	30,616		El Paso Electric Co		1,432
	33,239		Empire District Electric Co		1,135
	132,825		Entergy Corp		10,192
	236,089		Eversource Energy		12,791
	658,932		Exelon Corp		21,936
	316,004		FirstEnergy Corp		10,453
	9,378	e	Genie Energy Ltd		55
	6,410	e	Global Water Resources, Inc		51
	114,306		Great Plains Energy, Inc		3,119
	79,361		Hawaiian Electric Industries, Inc		2,369
	37,236		Idacorp, Inc		2,915
	114,807		ITC Holdings Corp		5,336
	144,429		MDU Resources Group, Inc		3,674
	26,250		MGE Energy, Inc		1,483
	11,759		Middlesex Water Co		414
	62,456		National Fuel Gas Co		3,377

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	63,442		New Jersey Resources Corp	$	2,085
	342,856		NextEra Energy, Inc		41,938
	234,601		NiSource, Inc		5,656
	22,143		Northwest Natural Gas Co		1,331
	35,802		NorthWestern Corp		2,060
	234,043		NRG Energy, Inc		2,624
	21,934		NRG Yield, Inc (Class A)		358
	47,061	e	NRG Yield, Inc (Class C)		798
	147,340		OGE Energy Corp		4,659
	38,369		ONE Gas, Inc		2,373
	28,629		Ormat Technologies, Inc		1,386
	27,545		Otter Tail Corp		953
	42,747	e	Pattern Energy Group, Inc		961
	369,391		PG&E Corp		22,596
	57,462		Piedmont Natural Gas Co, Inc		3,450
	81,970		Pinnacle West Capital Corp		6,229
	58,763		PNM Resources, Inc		1,923
	65,858		Portland General Electric Co		2,805
	504,387		PPL Corp		17,437
	376,219		Public Service Enterprise Group, Inc		15,752
	96,341		SCANA Corp		6,972
	185,179		Sempra Energy		19,849
	12,005		SJW Corp		524
	49,250		South Jersey Industries, Inc		1,455
	699,529		Southern Co		35,886
	34,400		Southwest Gas Corp		2,403
	3,772	e	Spark Energy, Inc		110
	32,340		Spire, Inc		2,061
	62,722	*,e	Talen Energy Corp		869
	65,781		TerraForm Global, Inc		270
	63,597	e	TerraForm Power, Inc		885
	128,103		UGI Corp		5,795
	10,272		Unitil Corp		401
	61,078		Vectren Corp		3,066
	15,334	*,e	Vivint Solar, Inc		48
	233,695		WEC Energy Group, Inc		13,994
	105,075		Westar Energy, Inc		5,963
	36,819		WGL Holdings, Inc		2,309
	378,136		Xcel Energy, Inc		15,557
	9,006		York Water Co		267
			TOTAL UTILITIES		556,819
			TOTAL COMMON STOCKS		16,854,427
			(Cost $9,119,259)
RIGHTS / WARRANTS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	1,387	m	Emergent Capital, Inc		0
			TOTAL DIVERSIFIED FINANCIALS		0
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	10,743	m	Forest Laboratories, Inc CVR		10
	4,045	m	Omthera Pharmaceuticals, Inc		2
	28,951	m	Trius Therapeutics, Inc		4
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		16

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

								VALUE
SHARES			COMPANY					(000)
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						134
			(Cost $119)
							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 3.4%
GOVERNMENT AGENCY DEBT - 0.0%
$	5,000,000		Federal Home Loan Bank (FHLB)		0.100	%	10/03/16		5,000
			TOTAL GOVERNMENT AGENCY DEBT						5,000
TREASURY DEBT - 0.4%
	28,000,000	d	United States Treasury Bill		0.245		11/03/16		27,995
	21,300,000	d	United States Treasury Bill		0.305		02/09/17		21,274
			TOTAL TREASURY DEBT						49,269
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 3.0%
	512,006,980	c	State Street Navigator Securities Lending Government Money Market Portfolio						512,007
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						512,007
			TOTAL SHORT-TERM INVESTMENTS						566,276
			(Cost $566,277)
			TOTAL INVESTMENTS - 102.9%						17,420,837
			(Cost $9,685,655)
			OTHER ASSETS & LIABILITIES, NET - (2.9)%						(489,430	)
			NET ASSETS - 100.0%					$	16,931,407

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

*	Non-income producing
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 contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $503,535,000.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

308

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2016

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BANK LOAN OBLIGATIONS - 0.6%
CAPITAL GOODS - 0.0%
$	995,195	i	TransDigm, Inc		3.750	%	05/14/22	$	996
			TOTAL CAPITAL GOODS						996
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	1,000,000	i	B/E Aerospace Inc		3.850		12/16/21		1,010
	1,989,848	i	ServiceMaster Co LLC		4.250		07/01/21		2,007
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						3,017
CONSUMER DURABLES & APPAREL - 0.0%
	1,182,000	i	Hanesbrands, Inc		3.250		04/29/22		1,188
			TOTAL CONSUMER DURABLES & APPAREL						1,188
CONSUMER SERVICES - 0.1%
	2,000,000	i	Boyd Gaming Corp		4.000		08/14/20		2,011
	825,000	i	Boyd Gaming Corp		3.531		09/15/23		831
	338,388	i	Hilton Worldwide		3.500		10/26/20		340
	3,459,249	i	Hilton Worldwide Finance LLC		3.097		10/25/23		3,478
	723,188	i	KFC Holding Co		3.281		06/16/23		728
			TOTAL CONSUMER SERVICES						7,388
DIVERSIFIED FINANCIALS - 0.0%
	1,902,539	i	TransUnion LLC		3.588		04/09/21		1,907
			TOTAL DIVERSIFIED FINANCIALS						1,907
ENERGY - 0.0%
	1,720,000	i	California Resources Corp		11.375		12/31/21		1,805
	83,270	i	Granite Acquisition, Inc		5.000		12/19/21		82
	1,859,375	i	Granite Acquisition, Inc		5.000		12/19/21		1,836
			TOTAL ENERGY						3,723
FOOD & STAPLES RETAILING - 0.0%
	3,463,746	i	Albertsons LLC		4.500		08/22/21		3,489
	209,524	i	Albertsons LLC		4.750		06/22/23		211
	158,544	i	Dollar Tree, Inc		3.063		07/06/22		159
			TOTAL FOOD & STAPLES RETAILING						3,859
FOOD, BEVERAGE & TOBACCO - 0.0%
	2,000,000	i	B&G Foods, Inc		3.839		11/02/22		2,012
			TOTAL FOOD, BEVERAGE & TOBACCO						2,012
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	3,539,757	i	Capsugel Holdings US, Inc		4.000		07/31/21		3,557
	300,859	i	CHS/Community Health Systems		4.000		01/27/21		295
	1,661,750	i	DaVita HealthCare Partners, Inc		3.500		06/24/21		1,669
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						5,521

309

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
MATERIALS - 0.1%
$	2,000,000	i	American Builders & Contractors Supply Co, Inc		3.500	%	09/23/23	$	2,005
	2,374,671	i	Berry Plastics Group, Inc		3.750		10/01/22		2,381
	3,080,400	i	Minerals Technologies, Inc		3.750		05/10/21		3,096
	1,437,457	i	PolyOne Corp		3.500		11/12/22		1,450
	1,500,000	i	Versum Materials, Inc		3.250		09/20/23		1,506
			TOTAL MATERIALS						10,438
MEDIA - 0.1%
	4,312,500	i	CBS Outdoor Americas Capital LLC		3.000		02/01/21		4,325
	4,346,048	i	EMI Music		4.000		08/19/22		4,358
	1,496,250	i	Neptune Finco Corp		5.000		10/09/22		1,498
	1,250,000	i	Nexstar Broadcasting, Inc		3.000		10/31/23		1,256
	3,029,946	i	Virgin Media Investment Holdings Ltd		3.649		06/30/23		3,042
			TOTAL MEDIA						14,479
REAL ESTATE - 0.1%
	3,950,000	i	DTZ US Borrower LLC		4.250		11/04/21		3,951
	1,666,625	i	MGM Growth Properties LLC		4.000		04/25/23		1,681
			TOTAL REAL ESTATE						5,632
RETAILING - 0.0%
	1,984,536	i	Avis Budget Car Rental LLC		3.340		03/15/22		1,997
	839,375	i	PetSmart, Inc		4.250		03/11/22		840
			TOTAL RETAILING						2,837
SOFTWARE & SERVICES - 0.1%
	2,535,171	i	CSRA, Inc		3.750		11/28/22		2,552
	4,887,218	i	IMS Health, Inc		3.500		03/17/21		4,898
	191,149	i	SS&C Technologies Holdings Europe SARL		4.002		07/08/22		192
	1,538,173	i	SS&C Technologies Holdings, Inc		4.002		07/08/22		1,549
			TOTAL SOFTWARE & SERVICES						9,191
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	4,048,316	i	Avago Technologies Cayman Finance Ltd		3.524		02/01/23		4,094
	1,212,750	i	CommScope, Inc		3.750		12/29/22		1,223
	4,691,184	i	NXP BV		3.250		01/10/20		4,704
	213,280	i	NXP BV		3.405		12/07/20		214
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						10,235
TELECOMMUNICATION SERVICES - 0.0%
	994,987	i	T-Mobile USA, Inc		3.500		11/09/22		1,002
			TOTAL TELECOMMUNICATION SERVICES						1,002
			TOTAL BANK LOAN OBLIGATIONS						83,425
			(Cost $82,761)
BONDS - 97.5%
CORPORATE BONDS - 35.7%
AUTOMOBILES & COMPONENTS - 0.5%

310

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	590,000	g	Adient Global Holdings Ltd		4.875	%	08/15/26	$	590
	960,000	g	Allison Transmission, Inc		5.000		10/01/24		982
	9,650,000	g	BMW US Capital LLC		2.000		04/11/21		9,759
	5,750,000	g	BMW US Capital LLC		2.800		04/11/26		5,877
EUR	1,250,000		Daimler AG.		0.875		01/12/21		1,453
$	4,050,000		Delphi Automotive plc		3.150		11/19/20		4,194
	3,175,000		Delphi Automotive plc		4.400		10/01/46		3,236
	470,000	g	Gates Global LLC		6.000		07/15/22		446
	6,950,000		General Motors Co		6.600		04/01/36		8,377
	4,975,000		General Motors Co		6.750		04/01/46		6,251
	1,775,000	g	Hyundai Capital America		2.000		07/01/19		1,785
	400,000	g	Hyundai Capital America		1.750		09/27/19		398
	5,425,000	g	Hyundai Capital America		2.600		03/19/20		5,532
	3,000,000	g	Hyundai Capital America		2.750		09/27/26		2,965
	200,000	g,o	IHO Verwaltungs GmbH		4.125		09/15/21		202
	200,000	g,o	IHO Verwaltungs GmbH		4.500		09/15/23		202
	8,675,000		Magna International, Inc		3.625		06/15/24		9,124
	1,250,000	g	Schaeffler Finance BV		4.750		05/15/21		1,294
	1,000,000		Tenneco, Inc		5.000		07/15/26		1,014
	175,000	g	ZF North America Capital, Inc		4.500		04/29/22		185
	350,000	g	ZF North America Capital, Inc		4.750		04/29/25		367
			TOTAL AUTOMOBILES & COMPONENTS						64,233
BANKS - 5.4%
	6,950,000	g	ANZ New Zealand Int’l Ltd		2.125		07/28/21		6,960
	2,300,000	g	Banco de Bogota S.A.		6.250		05/12/26		2,429
	3,000,000	g	Banco Nacional de Comercio Exterior SNC		4.375		10/14/25		3,105
	3,325,000	g,i	Banco Nacional de Comercio Exterior SNC		3.800		08/11/26		3,228
	2,700,000	g	Banco Nacional de Costa Rica		5.875		04/25/21		2,815
	2,000,000		Bancolombia S.A.		5.950		06/03/21		2,207
	5,000,000	g	Bank Nederlandse Gemeenten		2.625		04/28/21		5,253
	18,550,000		Bank of America Corp		5.300		03/15/17		18,874
	8,525,000		Bank of America Corp		6.000		09/01/17		8,864
	10,200,000		Bank of America Corp		3.875		08/01/25		10,903
	200,000		Bank of America Corp		4.250		10/22/26		212
	6,075,000		Bank of America Corp		4.750		04/21/45		6,511
	25,000,000		Bank of Nova Scotia		2.125		09/11/19		25,464
	5,850,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		02/23/17		5,873
	5,450,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		09/08/19		5,518
	7,100,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		3.250		09/08/24		7,417
	6,700,000		Barclays plc		3.650		03/16/25		6,611
	500,000		Barclays plc		5.200		05/12/26		515
	4,625,000	g	BNP Paribas S.A.		4.375		05/12/26		4,781
	3,200,000		Branch Banking & Trust Co		2.300		10/15/18		3,254
	11,850,000		Capital One Bank USA NA		2.950		07/23/21		12,197
	4,500,000		Capital One Bank USA NA		3.375		02/15/23		4,624
	8,425,000		Citigroup, Inc		1.300		11/15/16		8,427
	11,875,000		Citigroup, Inc		3.400		05/01/26		12,277
	33,500,000		Citigroup, Inc		4.125		07/25/28		34,194
	250,000		Citigroup, Inc		4.650		07/30/45		282
	10,000,000	i	Citigroup, Inc		5.350		12/30/49		9,900
	2,775,000		Citizens Bank NA		2.550		05/13/21		2,825
	2,350,000		Citizens Financial Group, Inc		2.375		07/28/21		2,358
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,207

311

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	5,275,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		5.250	%	08/04/45	$	5,937
	13,700,000		Cooperatieve Rabobank UA		2.500		01/19/21		14,050
	17,725,000		Cooperatieve Rabobank UA		3.750		07/21/26		17,765
	4,825,000	g	Credit Agricole S.A.		2.500		04/15/19		4,918
	5,500,000	g	Credit Agricole S.A.		2.375		07/01/21		5,572
EUR	1,200,000		Credit Agricole S.A.		0.875		01/19/22		1,397
$	3,800,000	g	DBS Group Holdings Ltd		2.246		07/16/19		3,851
EUR	1,200,000		Deutsche Bank AG.		1.250		09/08/21		1,321
$	3,125,000		Discover Bank		3.100		06/04/20		3,215
	4,875,000		Discover Bank		3.200		08/09/21		5,030
EUR	1,000,000		FCE Bank plc		1.134		02/10/22		1,154
$	2,500,000	g	GTH Finance BV		7.250		04/26/23		2,712
	7,350,000	g	HSBC Bank plc		4.125		08/12/20		7,879
	10,425,000		HSBC Holdings plc		2.950		05/25/21		10,574
	11,125,000		HSBC Holdings plc		2.650		01/05/22		11,088
	250,000		HSBC Holdings plc		4.250		08/18/25		257
	12,825,000		HSBC Holdings plc		3.900		05/25/26		13,328
	5,000,000		HSBC USA, Inc		1.625		01/16/18		5,003
EUR	1,000,000		Intesa Sanpaolo S.p.A		5.150		07/16/20		1,253
	250,000		Intesa Sanpaolo S.p.A		3.500		01/17/22		318
$	400,000	g	Itau Unibanco Holding S.A.		5.125		05/13/23		402
	12,925,000		JPMorgan Chase & Co		2.750		06/23/20		13,301
	16,725,000		JPMorgan Chase & Co		2.295		08/15/21		16,762
	4,850,000		JPMorgan Chase & Co		2.700		05/18/23		4,902
	20,400,000		JPMorgan Chase & Co		3.200		06/15/26		20,950
	21,275,000		JPMorgan Chase & Co		2.950		10/01/26		21,349
	200,000		JPMorgan Chase & Co		4.950		06/01/45		225
	3,750,000	i	JPMorgan Chase & Co		5.150		12/30/49		3,769
	2,700,000		KeyBank NA		2.500		12/15/19		2,769
	250,000		Lloyds Bank plc		3.500		05/14/25		264
	3,325,000		Lloyds Banking Group plc		3.100		07/06/21		3,397
	4,475,000	g	Macquarie Bank Ltd		2.600		06/24/19		4,555
	9,950,000		Manufacturers & Traders Trust Co		2.100		02/06/20		10,042
	5,925,000		Mitsubishi UFJ Financial Group, Inc		3.850		03/01/26		6,430
AUD	500,000		National Australia Bank Ltd		5.000		03/11/24		439
$	13,600,000		National Australia Bank Ltd		2.500		07/12/26		13,370
	1,700,000	g,i	Oversea-Chinese Banking Corp Ltd		4.000		10/15/24		1,775
	2,325,000	g	PKO Finance AB		4.630		09/26/22		2,510
	10,400,000		PNC Bank NA		2.200		01/28/19		10,566
	11,475,000		PNC Bank NA		2.250		07/02/19		11,695
	17,000,000		PNC Bank NA		2.600		07/21/20		17,539
	10,950,000		PNC Bank NA		2.700		11/01/22		11,131
	17,395,000		PNC Bank NA		2.950		01/30/23		17,916
	6,000,000		PNC Financial Services Group, Inc		3.900		04/29/24		6,435
	4,900,000	g,i	Rabobank Nederland NV		11.000		12/30/49		5,935
	12,000,000		Royal Bank of Canada		1.200		09/19/17		11,995
	40,000,000		Royal Bank of Canada		1.875		02/05/20		40,424
	300,000	i	Royal Bank of Scotland Group plc		8.625		12/30/49		295
EUR	1,200,000		Santander International Debt SAU		1.375		12/14/22		1,417
$	1,300,000	g	Shinhan Bank		3.875		03/24/26		1,376
	15,000,000	g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		15,004
	13,100,000	g	Skandinaviska Enskilda Banken AB		2.625		11/17/20		13,473
SEK	19,000,000		Skandinaviska Enskilda Banken AB		1.500		12/15/21		2,344
EUR	1,000,000		Societe Generale S.A.		0.750		02/19/21		1,156

312

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	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		6,776
	4,025,000		Sumitomo Mitsui Banking Corp		3.650		07/23/25		4,346
	13,600,000		Sumitomo Mitsui Financial Group, Inc		2.632		07/14/26		13,434
	6,850,000		SunTrust Banks, Inc		2.900		03/03/21		7,129
	5,700,000		SunTrust Banks, Inc		2.750		05/01/23		5,782
	5,000,000		Toronto-Dominion Bank		1.450		09/06/18		5,001
	13,700,000		Toronto-Dominion Bank		2.500		12/14/20		14,089
	2,350,000	i	Toronto-Dominion Bank		3.625		09/15/31		2,359
	2,800,000	g	Turkiye Halk Bankasi AS.		5.000		07/13/21		2,736
	2,350,000	g	Turkiye Is Bankasi		3.750		10/10/18		2,321
	2,775,000	g	Turkiye Is Bankasi		5.500		04/21/19		2,826
	7,100,000		Union Bank NA		2.125		06/16/17		7,151
	5,700,000		UnionBanCal Corp		3.500		06/18/22		6,046
	17,650,000		US Bank NA		2.800		01/27/25		18,235
	10,000,000	g	Westpac Banking Corp		1.850		11/26/18		10,096
	8,600,000		Westpac Banking Corp		2.000		08/19/21		8,595
AUD	600,000		Westpac Banking Corp		5.250		11/21/23		544
$	11,475,000		Westpac Banking Corp		2.700		08/19/26		11,425
			TOTAL BANKS						770,363
CAPITAL GOODS - 0.8%
EUR	1,000,000		Bayer AG.		1.875		01/25/21		1,206
$	2,075,000		Eaton Corp		4.000		11/02/32		2,227
	250,000		Eaton Corp		4.150		11/02/42		268
	4,000,000		Embraer Netherlands Finance BV		5.050		06/15/25		4,020
	11,475,000		General Dynamics Corp		2.125		08/15/26		11,298
	1,500,000	g	Gold Fields Orogen Holding BVI Ltd		4.875		10/07/20		1,518
	1,300,000	g	Huntington Ingalls Industries, Inc		5.000		12/15/21		1,365
EUR	1,000,000		Illinois Tool Works, Inc		1.250		05/22/23		1,190
$	4,250,000		Ingersoll-Rand Luxembourg Finance S.A.		3.550		11/01/24		4,507
	1,425,000	g	LafargeHolcim Finance US LLC		3.500		09/22/26		1,449
	8,350,000		Lockheed Martin Corp		2.500		11/23/20		8,620
	5,200,000		Lockheed Martin Corp		3.550		01/15/26		5,622
	200,000		Lockheed Martin Corp		4.700		05/15/46		238
	9,800,000	g	Molex Electronic Technologies LLC		2.878		04/15/20		9,887
	8,250,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		8,426
	1,262,805	g	Odebrecht Offshore Drilling Finance Ltd		6.625		10/01/22		234
	1,711,000	g	Odebrecht Offshore Drilling Finance Ltd		6.750		10/01/22		317
	4,925,000		Rockwell Automation, Inc		2.050		03/01/20		4,987
	11,300,000	g	Siemens Financieringsmaatschappij NV		1.700		09/15/21		11,215
	11,300,000	g	Siemens Financieringsmaatschappij NV		2.350		10/15/26		11,168
	5,725,000	g	Siemens Financieringsmaatschappij NV		3.300		09/15/46		5,595
	2,200,000	g	Sigma Alimentos S.A. de C.V.		4.125		05/02/26		2,205
	2,075,000		Textron, Inc		3.875		03/01/25		2,187
	12,950,000		Timken Co		3.875		09/01/24		13,058
	5,200,000	g	TSMC Global Ltd		1.625		04/03/18		5,208
			TOTAL CAPITAL GOODS						118,015
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	2,105,000		21st Century Fox America, Inc		7.625		11/30/28		2,909
	1,578,000		21st Century Fox America, Inc		6.550		03/15/33		2,025
	7,375,000		21st Century Fox America, Inc		6.900		08/15/39		9,923
	1,250,000		AECOM		5.750		10/15/22		1,313

313

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,875,000		AECOM		5.875	%	10/15/24	$	5,192
	7,175,000		Air Lease Corp		3.875		04/01/21		7,587
	27,200,000	g	Daimler Finance North America LLC		2.000		07/06/21		27,247
	7,950,000	g	Daimler Finance North America LLC		3.300		05/19/25		8,392
	12,550,000		Equifax, Inc		3.250		06/01/26		12,939
	2,825,000		Quest Diagnostics, Inc		3.450		06/01/26		2,945
	10,290,000		Republic Services, Inc		3.800		05/15/18		10,689
	5,375,000		Republic Services, Inc		3.550		06/01/22		5,776
	6,625,000		Republic Services, Inc		3.200		03/15/25		6,938
	2,125,000		Republic Services, Inc		2.900		07/01/26		2,156
	2,000,000		United Rentals North America, Inc		4.625		07/15/23		2,050
	9,250,000		Visa, Inc		3.150		12/14/25		9,777
	15,050,000		Waste Management, Inc		2.900		09/15/22		15,796
	6,725,000		Waste Management, Inc		2.400		05/15/23		6,807
	2,000,000		Waste Management, Inc		3.900		03/01/35		2,137
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,445
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						145,043
CONSUMER DURABLES & APPAREL - 0.3%
	3,250,000	g	Golden Legacy Pte Ltd		8.250		06/07/21		3,444
	3,000,000		Lennar Corp		4.500		11/15/19		3,161
	3,000,000		Lennar Corp		4.750		04/01/21		3,195
	3,850,000		Newell Rubbermaid, Inc		3.150		04/01/21		4,012
	2,875,000		Newell Rubbermaid, Inc		3.900		11/01/25		3,040
	6,175,000		Newell Rubbermaid, Inc		4.200		04/01/26		6,729
	500,000		PulteGroup, Inc		4.250		03/01/21		525
	1,000,000		PulteGroup, Inc		5.500		03/01/26		1,050
	6,900,000		PVH Corp		4.500		12/15/22		7,193
EUR	1,250,000		Whirlpool Corp		0.625		03/12/20		1,426
$	2,625,000		Whirlpool Corp		3.700		03/01/23		2,798
			TOTAL CONSUMER DURABLES & APPAREL						36,573
CONSUMER SERVICES - 1.1%
	1,425,000		ADT Corp		6.250		10/15/21		1,550
	1,390,000		ADT Corp		3.500		07/15/22		1,338
	11,000,000		Amherst College		4.100		11/01/45		12,451
	2,000,000	g	Aramark Services, Inc		4.750		06/01/26		2,010
	16,000,000		George Washington University		3.545		09/15/46		15,757
	1,000,000	g	Hilton Domestic Operating Co, Inc		4.250		09/01/24		1,020
	1,840,000	g	International Game Technology		5.625		02/15/20		1,953
	1,610,000	g	International Game Technology		6.250		02/15/22		1,714
	1,610,000	g	International Game Technology		6.500		02/15/25		1,735
	5,000,000		Johns Hopkins University		4.083		07/01/53		5,654
	8,000,000		President and Fellows of Harvard College		3.529		10/01/31		8,673
	14,250,000		President and Fellows of Harvard College		3.619		10/01/37		15,759
	11,650,000	g	SABMiller Holdings, Inc		3.750		01/15/22		12,614
	5,575,000	g	SABMiller Holdings, Inc		4.950		01/15/42		6,527
	5,000,000		Scientific Games International, Inc		6.250		09/01/20		3,850
	6,475,000		Service Corp International		5.375		05/15/24		6,863
	15,000,000		Smith College		4.620		07/01/45		17,355
	6,600,000		Trustees of Dartmouth College		3.474		06/01/46		7,039
	21,000,000		University of Chicago		4.151		10/01/45		21,284
	13,700,000		Walt Disney Co		2.300		02/12/21		14,119
			TOTAL CONSUMER SERVICES						159,265

314

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
DIVERSIFIED FINANCIALS - 4.0%
$	1,250,000		AerCap Ireland Capital Ltd		4.625	%	10/30/20	$	1,312
	500,000		AerCap Ireland Capital Ltd		5.000		10/01/21		534
	1,250,000		Ally Financial, Inc		3.750		11/18/19		1,270
	2,000,000		American Express Centurion Bank		6.000		09/13/17		2,086
	4,775,000		American Honda Finance Corp		2.300		09/09/26		4,767
	2,150,000	g,i	Armor Re Ltd		4.724		12/15/16		2,156
	3,800,000	g,i	Banco Mercantil del Norte S.A.		5.750		10/04/31		3,716
	6,250,000	i	Bank of New York Mellon Corp (Step Bond)		1.969		06/20/17		6,281
	4,125,000		Bank of New York Mellon Corp		5.450		05/15/19		4,532
	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		10,792
	11,550,000	g	Bayer US Finance LLC		2.375		10/08/19		11,719
	8,100,000	g	Bayer US Finance LLC		3.375		10/08/24		8,368
	5,000,000	g	BBVA Bancomer S.A.		6.750		09/30/22		5,587
	2,100,000	g,i	BBVA Bancomer S.A.		5.350		11/12/29		2,116
EUR	1,000,000		BHP Billiton Finance Ltd		0.750		10/28/22		1,150
$	24,600,000	g	Caisse Centrale Desjardins du Quebec		1.600		03/06/17		24,657
	7,175,000		Credit Suisse		2.300		05/28/19		7,264
EUR	1,250,000		Credit Suisse Group Funding Guernsey Ltd		1.250		04/14/22		1,405
$	7,700,000	g	Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		7,805
	10,250,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		10,189
	2,075,000	g	Export-Import Bank of India		3.375		08/05/26		2,092
	6,660,000		Ford Motor Credit Co LLC		4.250		02/03/17		6,724
	3,340,000		Ford Motor Credit Co LLC		6.625		08/15/17		3,486
	6,600,000		Ford Motor Credit Co LLC		2.375		03/12/19		6,678
	13,600,000		Ford Motor Credit Co LLC		3.157		08/04/20		14,000
	16,975,000		Ford Motor Credit Co LLC		3.200		01/15/21		17,428
	35,825,000		Ford Motor Credit Co LLC		4.134		08/04/25		37,818
	21,983,000		GE Capital International Funding Co		3.373		11/15/25		23,801
	5,228,000		GE Capital International Funding Co		4.418		11/15/35		5,879
	1,432,000		General Electric Capital Corp		5.875		01/14/38		1,924
	108,000		General Electric Capital Corp		6.875		01/10/39		162
	4,911,000		General Motors Financial Co, Inc		3.500		07/10/19		5,059
	3,158,000		General Motors Financial Co, Inc		3.200		07/13/20		3,234
	11,725,000		General Motors Financial Co, Inc		4.200		03/01/21		12,340
	17,625,000		General Motors Financial Co, Inc		3.200		07/06/21		17,843
	3,900,000		General Motors Financial Co, Inc		4.375		09/25/21		4,166
	5,000,000		General Motors Financial Co, Inc		3.450		04/10/22		5,072
	5,400,000		General Motors Financial Co, Inc		3.700		05/09/23		5,494
	500,000		General Motors Financial Co, Inc		4.300		07/13/25		515
	5,500,000		General Motors Financial Co, Inc		5.250		03/01/26		6,023
	11,075,000		Goldman Sachs Group, Inc		2.375		01/22/18		11,188
	13,575,000		Goldman Sachs Group, Inc		3.500		01/23/25		14,047
	7,675,000		Goldman Sachs Group, Inc		4.800		07/08/44		8,653
	10,550,000		Goldman Sachs Group, Inc		5.150		05/22/45		11,532
	4,375,000		Goldman Sachs Group, Inc		4.750		10/21/45		4,922
	3,800,000	g	GrupoSura Finance S.A.		5.500		04/29/26		4,037
	1,725,000		Icahn Enterprises LP		5.875		02/01/22		1,656
	2,750,000	g	ICICI Bank Ltd		4.700		02/21/18		2,844
	2,000,000	g	ICICI Bank Ltd		3.500		03/18/20		2,061
	400,000		Indian Railway Finance Corp Ltd		3.917		02/26/19		418
	550,000		Intercontinental Exchange, Inc		2.750		12/01/20		571

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,400,000		International Lease Finance Corp		3.875	%	04/15/18	$	8,599
	3,200,000		International Lease Finance Corp		5.875		04/01/19		3,428
	5,000,000		International Lease Finance Corp		5.875		08/15/22		5,544
	250,000		Jefferies Group, Inc		6.450		06/08/27		283
	4,900,000	g	KOC Holding AS.		5.250		03/15/23		5,013
	1,625,000		Legg Mason, Inc		2.700		07/15/19		1,652
	2,400,000		Legg Mason, Inc		3.950		07/15/24		2,457
	2,050,000	g	LUKOIL International Finance BV		4.563		04/24/23		2,117
	21,500,000		Morgan Stanley		1.875		01/05/18		21,587
	24,800,000		Morgan Stanley		3.700		10/23/24		26,164
	23,475,000		Morgan Stanley		3.125		07/27/26		23,709
	300,000		Morgan Stanley		4.300		01/27/45		322
	3,800,000		National Rural Utilities Cooperative Finance Corp		10.375		11/01/18		4,494
	6,500,000	g	Nederlandse Waterschapsbank NV		1.875		03/13/19		6,610
	5,000,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		5,063
	3,550,000	g	NongHyup Bank		1.875		09/12/21		3,527
	2,000,000	g	Reliance Holdings USA		4.500		10/19/20		2,162
	100,000		State Street Corp		4.375		03/07/21		111
	41,495,816		Tagua Leasing LLC		1.900		07/12/24		41,709
	2,000,000	g	Three Gorges Finance I Cayman Islands Ltd		2.300		06/02/21		2,021
	6,800,000	g	UBS Group Funding Jersey Ltd		2.950		09/24/20		6,966
	11,600,000	g	UBS Group Funding Jersey Ltd		2.650		02/01/22		11,577
	21,000,000		Wells Fargo & Co		2.100		07/26/21		20,930
	150,000		Wells Fargo & Co		3.900		05/01/45		155
			TOTAL DIVERSIFIED FINANCIALS						566,010
ENERGY - 3.1%
	2,000,000		AmeriGas Finance LLC		7.000		05/20/22		2,115
	2,375,000		AmeriGas Partners LP		5.625		05/20/24		2,518
	2,050,000		AmeriGas Partners LP		5.875		08/20/26		2,173
	8,900,000		Anadarko Petroleum Corp		4.850		03/15/21		9,588
	4,200,000		Anadarko Petroleum Corp		5.550		03/15/26		4,771
	3,600,000		Apache Corp		3.250		04/15/22		3,694
	2,850,000		Apache Corp		4.750		04/15/43		2,931
	1,900,000		Apache Corp		4.250		01/15/44		1,850
	6,650,000		Ashland, Inc		4.750		08/15/22		6,916
	16,500,000		BP Capital Markets plc		1.375		05/10/18		16,497
	13,300,000		BP Capital Markets plc		2.315		02/13/20		13,573
	5,025,000		BP Capital Markets plc		3.119		05/04/26		5,161
	690,000		California Resources Corp		5.000		01/15/20		416
	1,919,000	g	California Resources Corp		8.000		12/15/22		1,276
	478,000		California Resources Corp		6.000		11/15/24		228
	5,520,000		Canadian Natural Resources Ltd		3.900		02/01/25		5,545
	500,000		Cimarex Energy Co		5.875		05/01/22		524
	8,395,000		Cimarex Energy Co		4.375		06/01/24		8,772
	5,475,000		Concho Resources, Inc		5.500		04/01/23		5,646
	6,875,000		Devon Energy Corp		4.750		05/15/42		6,423
	3,300,000		Devon Energy Corp		5.000		06/15/45		3,218
	1,750,000		Dynegy, Inc		6.750		11/01/19		1,794
	1,100,000		Ecopetrol S.A.		5.875		09/18/23		1,187
	1,600,000		Ecopetrol S.A.		4.125		01/16/25		1,554
	3,000,000		Ecopetrol S.A.		5.375		06/26/26		3,123
	450,000		El Paso Pipeline Partners Operating Co LLC		4.700		11/01/42		416
	2,400,000	g	Empresa Nacional del Petroleo		3.750		08/05/26		2,430

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,250,000		Enbridge Energy Partners LP		5.200	%	03/15/20	$	3,483
	3,375,000		Enbridge Energy Partners LP		4.375		10/15/20		3,560
	6,800,000		Enbridge Energy Partners LP		5.875		10/15/25		7,822
	8,300,000		Energy Transfer Equity LP		5.500		06/01/27		8,259
	3,525,000		Enterprise Products Operating LLC		2.850		04/15/21		3,630
	10,450,000		Enterprise Products Operating LLC		3.750		02/15/25		10,836
	7,500,000		Enterprise Products Operating LLC		5.100		02/15/45		8,085
	5,150,000		EOG Resources, Inc		4.150		01/15/26		5,628
	2,250,000		Exterran Partners LP		6.000		10/01/22		2,087
	13,750,000		Exxon Mobil Corp		2.222		03/01/21		14,051
	14,325,000		Exxon Mobil Corp		3.043		03/01/26		14,998
	7,550,000		Exxon Mobil Corp		4.114		03/01/46		8,405
	2,250,000		Ferrellgas Partners LP		6.500		05/01/21		2,059
	1,750,000		Ferrellgas Partners LP		6.750		01/15/22		1,558
	400,000	g	Gazprom OAO Via Gaz Capital S.A.		4.950		07/19/22		418
	2,739,000		Husky Energy, Inc		3.950		04/15/22		2,901
	4,000,000		Husky Energy, Inc		4.000		04/15/24		4,177
	1,000,000	g	KMG Finance Sub BV		6.375		04/09/21		1,100
	1,400,000		Magellan Midstream Partners LP		4.250		09/15/46		1,393
	5,030,000		Marathon Oil Corp		2.700		06/01/20		4,930
	2,625,000		Noble Energy, Inc		5.625		05/01/21		2,735
	900,000		Noble Energy, Inc		3.900		11/15/24		918
	1,850,000		Noble Energy, Inc		5.250		11/15/43		1,884
	10,850,000		ONE Gas, Inc		2.070		02/01/19		11,012
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,774
	3,900,000		Pemex Project Funding Master Trust		6.625		06/15/35		3,970
	2,000,000	g	Pertamina Persero PT		4.875		05/03/22		2,150
	1,300,000	g	Pertamina Persero PT		4.300		05/20/23		1,361
	16,600,000		Petrobras Global Finance BV		4.875		03/17/20		16,771
	2,000,000		Petrobras Global Finance BV		8.375		05/23/21		2,191
	500,000		Petrobras International Finance Co		5.750		01/20/20		515
	3,400,000	g	Petroleos Mexicanos		5.500		02/04/19		3,585
	6,750,000	g	Petroleos Mexicanos		6.375		02/04/21		7,358
	1,500,000		Petroleos Mexicanos		4.875		01/24/22		1,526
EUR	375,000		Petroleos Mexicanos		1.875		04/21/22		405
$	13,000,000		Petroleos Mexicanos		1.950		12/20/22		13,099
	6,955,000		Petroleos Mexicanos		2.000		12/20/22		7,019
	9,000,000		Petroleos Mexicanos		3.500		01/30/23		8,483
	1,000,000		Petroleos Mexicanos		4.250		01/15/25		973
	1,800,000	g	Petroleos Mexicanos		6.875		08/04/26		2,029
	4,500,000		Petroleos Mexicanos		6.500		06/02/41		4,376
	4,180,000		Petroleos Mexicanos		5.500		06/27/44		3,624
	1,400,000		Petroleos Mexicanos		5.625		01/23/46		1,224
	1,800,000	g	Petroleos Mexicanos		6.750		09/21/47		1,793
	614,000		Pioneer Natural Resources Co		7.500		01/15/20		710
	8,675,000		Pioneer Natural Resources Co		3.450		01/15/21		9,021
	6,850,000		Pioneer Natural Resources Co		4.450		01/15/26		7,433
	4,850,000		Plains All American Pipeline LP		4.650		10/15/25		5,042
	2,038,000		Plains All American Pipeline LP		4.900		02/15/45		1,872
	1,250,000		Questar Market Resources, Inc		6.875		03/01/21		1,306
	3,335,000	g	Range Resources Corp		5.000		08/15/22		3,318
	1,425,000		Regency Energy Partners LP		5.875		03/01/22		1,571
	250,000	g	Reliance Industries Ltd		4.125		01/28/25		260
EUR	900,000		Repsol International Finance BV		3.625		10/07/21		1,168

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,000,000		Shell International Finance BV		2.375	%	08/21/22	$	6,100
	16,250,000		Shell International Finance BV		3.250		05/11/25		17,129
EUR	750,000		Shell International Finance BV		1.875		09/15/25		950
$	11,225,000		Shell International Finance BV		4.000		05/10/46		11,514
	2,075,000		Statoil ASA		1.200		01/17/18		2,072
	5,300,000		Statoil ASA		2.450		01/17/23		5,405
	8,875,000		Statoil ASA		4.250		11/23/41		9,486
	250,000		Suncor Energy, Inc		3.600		12/01/24		262
	2,000,000		Targa Resources Partners LP		5.000		01/15/18		2,070
	600,000	g,h	Targa Resources Partners LP		5.125		02/01/25		601
	2,000,000		Tesoro Corp		5.125		04/01/24		2,060
	1,000,000		Total Capital International S.A.		1.000		01/10/17		1,000
EUR	1,000,000		Total Capital International S.A.		2.500		03/25/26		1,335
$	3,400,000		TransCanada PipeLines Ltd		5.850		03/15/36		4,156
	2,750,000	i	TransCanada PipeLines Ltd		6.350		05/15/67		2,188
	3,250,000	g	Ultrapar International S.A.		5.250		10/06/26		3,243
	1,400,000		Vale Overseas Ltd		4.375		01/11/22		1,384
	1,500,000		Vale Overseas Ltd		6.250		08/10/26		1,567
	2,760,000		Vale Overseas Ltd		6.875		11/21/36		2,691
	350,000		WPX Energy, Inc		8.250		08/01/23		377
	2,400,000		WPX Energy, Inc		5.250		09/15/24		2,262
	400,000	g	YPF S.A.		8.500		03/23/21		446
			TOTAL ENERGY						436,493
FOOD & STAPLES RETAILING - 1.0%
	2,000,000	g	CK Hutchison International 16 Ltd		1.875		10/03/21		1,982
	5,400,000	g	CK Hutchison International 16 Ltd		2.750		10/03/26		5,321
	19,700,000		CVS Health Corp		2.800		07/20/20		20,425
	15,925,000		CVS Health Corp		2.125		06/01/21		16,088
	19,030,000		CVS Health Corp		3.875		07/20/25		20,728
	15,950,000		CVS Health Corp		2.875		06/01/26		16,197
	150,000		CVS Health Corp		5.125		07/20/45		183
	4,900,000		Ingles Markets, Inc		5.750		06/15/23		5,084
	2,275,000		SYSCO Corp		2.500		07/15/21		2,324
EUR	1,000,000		SYSCO Corp		1.250		06/23/23		1,166
$	8,250,000		Walgreen Co		4.400		09/15/42		8,593
	10,750,000		Walgreens Boots Alliance, Inc		2.700		11/18/19		11,077
	6,575,000		Walgreens Boots Alliance, Inc		2.600		06/01/21		6,729
	11,775,000		Walgreens Boots Alliance, Inc		3.800		11/18/24		12,659
	5,125,000		Walgreens Boots Alliance, Inc		3.450		06/01/26		5,324
	1,475,000		Walgreens Boots Alliance, Inc		4.650		06/01/46		1,611
			TOTAL FOOD & STAPLES RETAILING						135,491
FOOD, BEVERAGE & TOBACCO - 1.1%
	4,916,000	g	Anadolu Efes Biracilik Ve Malt Sanayii AS.		3.375		11/01/22		4,509
	13,700,000		Anheuser-Busch InBev Finance, Inc		2.650		02/01/21		14,138
	27,425,000		Anheuser-Busch InBev Finance, Inc		3.650		02/01/26		29,369
	10,450,000		Anheuser-Busch InBev Finance, Inc		4.900		02/01/46		12,533
	14,775,000		Anheuser-Busch InBev Worldwide, Inc		2.500		07/15/22		15,068
EUR	1,250,000		BAT Netherlands Finance BV		2.375		01/19/23		1,585
$	3,000,000	g	Corp Lindley S.A.		4.625		04/12/23		3,075
	2,435,000	g	Embotelladora Andina S.A.		5.000		10/01/23		2,700
EUR	1,250,000		Heineken NV		2.875		08/04/25		1,686
$	150,000		JM Smucker Co		4.375		03/15/45		166

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	200,000		Kraft Heinz Foods Co		5.200	%	07/15/45	$	237
	4,115,000		Mead Johnson Nutrition Co		4.900		11/01/19		4,517
	3,650,000		Mead Johnson Nutrition Co		3.000		11/15/20		3,802
	6,200,000		Mondelez International, Inc		4.000		02/01/24		6,788
	680,000		PepsiCo, Inc		7.900		11/01/18		771
	3,950,000		PepsiCo, Inc		2.750		04/30/25		4,109
	5,850,000		PepsiCo, Inc		2.850		02/24/26		6,134
EUR	1,000,000		PepsiCo, Inc		0.875		07/18/28		1,142
$	18,100,000		PepsiCo, Inc		4.450		04/14/46		21,414
	2,000,000	g	Pernod-Ricard S.A.		2.950		01/15/17		2,008
	6,850,000	g	Pernod-Ricard S.A.		4.250		07/15/22		7,493
	4,525,000	g	Pernod-Ricard S.A.		3.250		06/08/26		4,599
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		2,236
			TOTAL FOOD, BEVERAGE & TOBACCO						150,079
HEALTH CARE EQUIPMENT & SERVICES - 1.0%
	3,900,000		Becton Dickinson & Co		1.750		11/08/16		3,903
	400,000		Becton Dickinson & Co		4.685		12/15/44		457
	1,000,000		CHS/Community Health Systems		5.125		08/01/21		990
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		4,035
	9,800,000		Express Scripts Holding Co		3.900		02/15/22		10,575
	20,975,000		Express Scripts Holding Co		3.400		03/01/27		21,108
	2,060,000		HCA, Inc		6.500		02/15/20		2,281
	4,575,000		HCA, Inc		5.875		03/15/22		5,067
	2,500,000		HCA, Inc		4.500		02/15/27		2,509
	200,000		Laboratory Corp of America Holdings		3.600		02/01/25		210
	10,450,000		McKesson Corp		4.883		03/15/44		12,315
	8,450,000		Medtronic, Inc		3.500		03/15/25		9,105
	9,625,000		Medtronic, Inc		4.625		03/15/45		11,336
	5,000,000		New York and Presbyterian Hospital		3.563		08/01/36		5,265
	7,100,000		Owens & Minor, Inc		3.875		09/15/21		7,336
	4,750,000		St. Jude Medical, Inc		3.875		09/15/25		5,066
	6,700,000		Stryker Corp		2.625		03/15/21		6,907
	2,625,000		Stryker Corp		3.375		11/01/25		2,759
	2,000,000		Tenet Healthcare Corp		4.375		10/01/21		1,990
	2,700,000		Thermo Fisher Scientific, Inc		2.400		02/01/19		2,745
	3,100,000		Thermo Fisher Scientific, Inc		3.300		02/15/22		3,249
	4,325,000		Thermo Fisher Scientific, Inc		3.150		01/15/23		4,463
	4,000,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		3,987
	10,100,000		Zimmer Holdings, Inc		2.700		04/01/20		10,318
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						137,976
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	7,175,000		Clorox Co		3.800		11/15/21		7,783
	4,900,000		Clorox Co		3.500		12/15/24		5,240
	4,525,000		Ecolab, Inc		1.450		12/08/17		4,536
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						17,559
INSURANCE - 1.6%
	350,000		ACE INA Holdings, Inc		4.350		11/03/45		406
	150,000		Aetna, Inc		4.125		06/01/21		163
	1,925,000		Aetna, Inc		6.625		06/15/36		2,610
	9,050,000		Aetna, Inc		4.375		06/15/46		9,501
	6,200,000		Allstate Corp		3.150		06/15/23		6,574

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,200,000		Allstate Corp		4.500	%	06/15/43	$	7,300
	2,700,000		American Financial Group, Inc		3.500		08/15/26		2,703
	7,825,000		American International Group, Inc		2.300		07/16/19		7,968
	11,850,000		American International Group, Inc		3.300		03/01/21		12,434
	4,975,000		American International Group, Inc		3.900		04/01/26		5,266
	2,825,000		Aon plc		3.875		12/15/25		3,018
	100,000		Berkshire Hathaway Finance Corp		4.300		05/15/43		113
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		21,789
	3,750,000		Chubb Corp		6.000		05/11/37		5,106
	1,390,000		Cigna Corp		5.125		06/15/20		1,543
	6,900,000		Cigna Corp		4.500		03/15/21		7,569
	4,900,000		Cigna Corp		3.250		04/15/25		5,055
	21,975,000	g	Five Corners Funding Trust		4.419		11/15/23		23,742
	500,000		Marsh & McLennan Cos, Inc		4.800		07/15/21		558
	3,050,000		MetLife, Inc		4.050		03/01/45		3,033
	9,425,000	g	Metropolitan Life Global Funding I		1.950		09/15/21		9,424
	2,825,000		Principal Financial Group, Inc		1.850		11/15/17		2,841
	5,500,000		Progressive Corp		3.750		08/23/21		5,986
	8,050,000		Prudential Financial, Inc		7.375		06/15/19		9,265
	8,000,000		Prudential Financial, Inc		5.400		06/13/35		9,211
	150,000		Prudential Financial, Inc		4.600		05/15/44		161
	3,000,000	g	Prudential Funding LLC		6.750		09/15/23		3,741
	2,425,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		2,473
	6,100,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		6,507
	4,250,000		Travelers Cos, Inc		5.800		05/15/18		4,553
	1,350,000		Travelers Cos, Inc		3.750		05/15/46		1,430
	6,650,000		UnitedHealth Group, Inc		3.750		07/15/25		7,307
	3,050,000		UnitedHealth Group, Inc		3.100		03/15/26		3,189
	200,000		UnitedHealth Group, Inc		4.625		07/15/35		233
	13,600,000		UnitedHealth Group, Inc		4.750		07/15/45		16,351
	6,750,000		WellPoint, Inc		3.125		05/15/22		7,017
	7,850,000		WellPoint, Inc		4.625		05/15/42		8,486
	500,000		Willis Group Holdings plc		5.750		03/15/21		563
	2,400,000		WR Berkley Corp		5.375		09/15/20		2,649
			TOTAL INSURANCE						227,838
MATERIALS - 1.3%
	11,200,000	g	Air Liquide Finance S.A.		1.750		09/27/21		11,159
	5,000,000	g	Air Liquide Finance S.A.		2.500		09/27/26		5,027
	1,300,000	g	Air Liquide Finance S.A.		3.500		09/27/46		1,315
	6,630,000		Air Products & Chemicals, Inc		4.375		08/21/19		7,193
	675,000		Alcoa, Inc		5.125		10/01/24		718
	1,365,000		Ball Corp		5.000		03/15/22		1,476
	3,034,000		Barrick Gold Corp		4.100		05/01/23		3,282
	4,392,000		BHP Billiton Finance USA Ltd		5.000		09/30/43		5,205
	2,500,000	g	Blue Cube Spinco, Inc		9.750		10/15/23		2,937
	1,425,000	g	Blue Cube Spinco, Inc		10.000		10/15/25		1,681
	1,300,000		Celulosa Arauco y Constitucion S.A.		4.500		08/01/24		1,364
	400,000	g	Cemex SAB de C.V.		6.125		05/05/25		411
	1,475,000	g	Cemex SAB de C.V.		7.750		04/16/26		1,637
	3,175,000		CF Industries, Inc		7.125		05/01/20		3,656
	3,550,000		Corning, Inc		1.450		11/15/17		3,548
	2,275,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.875		11/03/21		2,377
	4,225,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.000		07/17/22		4,208

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.500	%	09/16/25	$	1,052
	1,390,000		Crown Americas LLC		4.500		01/15/23		1,447
	1,875,000	g	Crown Americas LLC		4.250		09/30/26		1,873
	1,000,000		Eastman Chemical Co		5.500		11/15/19		1,107
	5,450,000		Eastman Chemical Co		3.800		03/15/25		5,772
	200,000		EI du Pont de Nemours & Co		2.800		02/15/23		205
	8,775,000	g	Georgia-Pacific LLC		2.539		11/15/19		8,967
	5,375,000	g	Glencore Funding LLC		2.125		04/16/18		5,337
	28,950,000	g	Glencore Funding LLC		2.500		01/15/19		28,881
	6,450,000	g	Glencore Funding LLC		4.625		04/29/24		6,553
	15,586,000		International Paper Co		4.750		02/15/22		17,361
	3,200,000	g	Klabin Finance S.A.		5.250		07/16/24		3,192
	3,000,000		LyondellBasell Industries NV		5.000		04/15/19		3,220
	2,450,000		Newmont Mining Corp		4.875		03/15/42		2,587
	6,840,000		Nucor Corp		4.000		08/01/23		7,374
	2,860,000	g	Owens-Brockway Glass Container, Inc		5.375		01/15/25		2,971
	3,150,000		Packaging Corp of America		3.650		09/15/24		3,280
	400,000		Rio Tinto Finance USA Ltd		3.750		09/20/21		433
	5,000,000		Rock Tenn Co		3.500		03/01/20		5,221
	3,000,000		Rock Tenn Co		4.000		03/01/23		3,169
	1,370,000	g	Sealed Air Corp		5.250		04/01/23		1,459
	4,025,000	g	St. Marys Cement, Inc Canada		5.750		01/28/27		3,969
	1,675,000		Steel Dynamics, Inc		5.125		10/01/21		1,740
	3,200,000		Teck Resources Ltd		3.750		02/01/23		2,932
	2,000,000	g	Union Andina de Cementos SAA		5.875		10/30/21		2,100
			TOTAL MATERIALS						179,396
MEDIA - 1.7%
	6,750,000		CBS Corp		2.300		08/15/19		6,842
	4,200,000		CBS Corp		2.900		01/15/27		4,098
	11,150,000	g	CCO Safari II LLC		3.579		07/23/20		11,655
	8,295,000	g	CCO Safari II LLC		4.464		07/23/22		8,957
	22,275,000	g	Charter Communications Operating LLC		4.908		07/23/25		24,591
	3,500,000		Cinemark USA, Inc		4.875		06/01/23		3,517
	26,000,000		Comcast Corp		4.250		01/15/33		28,931
	1,715,000	g	CSC Holdings LLC		5.500		04/15/27		1,754
	2,430,000	g	Gannett Co, Inc		4.875		09/15/21		2,527
	2,925,000	g	Gannett Co, Inc		5.500		09/15/24		3,020
	825,000		Grupo Televisa S.A.		6.000		05/15/18		881
	4,800,000		Grupo Televisa SAB		4.625		01/30/26		5,129
	2,675,000		Grupo Televisa SAB		5.000		05/13/45		2,557
	2,000,000		Lamar Media Corp		5.000		05/01/23		2,110
	2,000,000		Lamar Media Corp		5.375		01/15/24		2,105
	7,250,000	g	NBC Universal Enterprise, Inc		1.662		04/15/18		7,293
	7,700,000	g	NBC Universal Enterprise, Inc		1.974		04/15/19		7,811
	10,350,000		NBC Universal Media LLC		2.875		01/15/23		10,782
	3,735,000		Nielsen Finance LLC		4.500		10/01/20		3,824
	4,650,000		Outfront Media Capital LLC		5.250		02/15/22		4,836
	6,600,000		Scripps Networks Interactive, Inc		2.800		06/15/20		6,761
	5,675,000		Time Warner Cable, Inc		5.875		11/15/40		6,315
	4,075,000		Time Warner Cable, Inc		4.500		09/15/42		3,897
	20,550,000		Time Warner, Inc		2.100		06/01/19		20,857
	19,575,000		Time Warner, Inc		3.600		07/15/25		20,834
	3,825,000		Time Warner, Inc		6.500		11/15/36		4,953

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	7,100,000		Time Warner, Inc		4.650	%	06/01/44	$	7,707
	150,000		Time Warner, Inc		4.850		07/15/45		168
	1,600,000	g	Time, Inc		5.750		04/15/22		1,572
	4,000,000	g	Univision Communications, Inc		5.125		05/15/23		4,050
	5,400,000		Viacom, Inc		2.500		12/15/16		5,413
	3,000,000		Viacom, Inc		3.500		04/01/17		3,027
	5,000,000		Viacom, Inc		2.250		02/04/22		4,976
	5,075,000		Viacom, Inc		3.450		10/04/26		5,072
	3,925,000		Viacom, Inc		5.850		09/01/43		4,437
	675,000	g	Virgin Media Secured Finance plc		5.500		01/15/25		690
			TOTAL MEDIA						243,949
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.4%
	2,250,000		Abbott Laboratories		5.300		05/27/40		2,729
	16,950,000		AbbVie, Inc		2.500		05/14/20		17,303
	15,250,000		AbbVie, Inc		3.200		05/14/26		15,448
	7,125,000		Actavis Funding SCS		3.000		03/12/20		7,345
	29,875,000		Actavis Funding SCS		3.800		03/15/25		31,636
	9,500,000		Actavis Funding SCS		4.550		03/15/35		10,110
	400,000		Actavis Funding SCS		4.750		03/15/45		439
	5,200,000		Amgen, Inc		1.850		08/19/21		5,170
	8,600,000		Amgen, Inc		2.600		08/19/26		8,468
	7,500,000		Biogen, Inc		2.900		09/15/20		7,790
	7,450,000		Celgene Corp		2.875		08/15/20		7,707
	11,575,000		Celgene Corp		3.875		08/15/25		12,395
	9,850,000		Gilead Sciences, Inc		3.650		03/01/26		10,608
	8,675,000		Gilead Sciences, Inc		2.950		03/01/27		8,772
	200,000		Gilead Sciences, Inc		4.750		03/01/46		223
	6,650,000		Johnson & Johnson		2.450		03/01/26		6,839
	4,100,000	g	Mylan NV		3.750		12/15/20		4,282
	6,600,000	g	Mylan NV		3.150		06/15/21		6,724
	3,225,000	g	Mylan NV		3.950		06/15/26		3,251
	3,725,000		Mylan, Inc		2.550		03/28/19		3,772
	13,700,000		Novartis Capital Corp		4.000		11/20/45		15,165
	500,000		Perrigo Finance plc		3.900		12/15/24		508
	2,850,000		Perrigo Finance plc		4.900		12/15/44		2,863
	7,200,000		Teva Pharmaceutical Finance Netherlands III BV		2.200		07/21/21		7,187
	3,475,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		3,493
	3,075,000		Zoetis, Inc		3.450		11/13/20		3,215
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						203,442
REAL ESTATE - 1.3%
	1,675,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		1,754
	3,525,000	h	AvalonBay Communities, Inc		2.900		10/15/26		3,511
	1,825,000	h	AvalonBay Communities, Inc		3.900		10/15/46		1,804
	300,000		Boston Properties LP		4.125		05/15/21		326
	5,575,000		Brandywine Operating Partnership LP		4.100		10/01/24		5,724
	4,500,000		Brixmor Operating Partnership LP		3.875		08/15/22		4,718
	5,800,000		Brixmor Operating Partnership LP		3.250		09/15/23		5,816
	5,825,000		Brixmor Operating Partnership LP		3.850		02/01/25		5,927
	2,650,000		Brixmor Operating Partnership LP		4.125		06/15/26		2,748
	3,965,000		Camden Property Trust		4.625		06/15/21		4,348
	3,000,000		Camden Property Trust		2.950		12/15/22		3,027
	5,175,000		DCT Industrial Operating Partnership LP		4.500		10/15/23		5,485

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,450,000		DDR Corp		3.625	%	02/01/25	$	3,490
	3,250,000		DDR Corp		4.250		02/01/26		3,436
	6,800,000		Developers Diversified Realty Corp		4.750		04/15/18		7,059
	3,460,000		Developers Diversified Realty Corp		7.875		09/01/20		4,156
	1,600,000		Duke Realty LP		3.250		06/30/26		1,637
	1,250,000		Equinix, Inc		5.375		01/01/22		1,322
	2,750,000		Equity One, Inc		3.750		11/15/22		2,854
	210,000		ERP Operating LP		4.625		12/15/21		236
	2,754,000		Essex Portfolio LP		3.375		01/15/23		2,849
	500,000		HCP, Inc		5.375		02/01/21		560
	2,775,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,153
	1,625,000		Healthcare Realty Trust, Inc		3.750		04/15/23		1,667
	6,600,000		Healthcare Realty Trust, Inc		3.875		05/01/25		6,821
	3,700,000		Healthcare Trust of America Holdings LP		3.375		07/15/21		3,834
	3,550,000		Healthcare Trust of America Holdings LP		3.700		04/15/23		3,674
	6,250,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		6,324
	1,600,000		Highwoods Realty LP		5.850		03/15/17		1,629
	1,775,000		Host Hotels & Resorts LP		4.500		02/01/26		1,870
	2,800,000		Kimco Realty Corp		3.400		11/01/22		2,950
	2,500,000		Liberty Property LP		3.250		10/01/26		2,521
	5,224,000		Mid-America Apartments LP		4.300		10/15/23		5,645
	5,525,000		Mid-America Apartments LP		3.750		06/15/24		5,766
	4,300,000		Mid-America Apartments LP		4.000		11/15/25		4,571
	3,600,000		National Retail Properties, Inc		3.800		10/15/22		3,828
	5,425,000		National Retail Properties, Inc		3.300		04/15/23		5,556
	2,575,000		National Retail Properties, Inc		4.000		11/15/25		2,747
	400,000		ProLogis LP		3.350		02/01/21		423
	7,225,000		Regency Centers LP		3.900		11/01/25		7,703
	400,000		Shimao Property Holdings Ltd		6.625		01/14/20		416
	3,040,000		Simon Property Group LP		10.350		04/01/19		3,629
	122,000		Simon Property Group LP		4.375		03/01/21		134
	2,830,000	g	Trust F/1401		5.250		12/15/24		2,936
	450,000		Ventas Realty LP		4.125		01/15/26		484
	1,170,000		Weingarten Realty Investors		3.375		10/15/22		1,204
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,934
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,277
	3,950,000		Weingarten Realty Investors		3.850		06/01/25		4,132
	1,300,000		Weingarten Realty Investors		3.250		08/15/26		1,302
	13,475,000		Welltower, Inc		4.000		06/01/25		14,296
			TOTAL REAL ESTATE						180,213
RETAILING - 0.7%
	100,000		Amazon.com, Inc		4.950		12/05/44		122
	600,000		Asbury Automotive Group, Inc		6.000		12/15/24		618
	4,150,000		AutoNation, Inc		3.350		01/15/21		4,274
	4,425,000		AutoZone, Inc		3.250		04/15/25		4,586
	100,000		Best Buy Co, Inc		5.500		03/15/21		111
	2,775,000	g	El Puerto de Liverpool SAB de C.V.		3.875		10/06/26		2,739
	8,850,000		Home Depot, Inc		2.000		04/01/21		9,009
	8,725,000		Home Depot, Inc		3.350		09/15/25		9,462
	5,175,000		Home Depot, Inc		3.000		04/01/26		5,478
	8,350,000		Home Depot, Inc		2.125		09/15/26		8,214
	2,975,000		Home Depot, Inc		3.500		09/15/56		2,895
	1,500,000		JD.com, Inc		3.125		04/29/21		1,501

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,150,000		L Brands, Inc		6.750	%	07/01/36	$	3,388
	3,150,000		Limited Brands, Inc		7.000		05/01/20		3,630
	8,315,000		O’Reilly Automotive, Inc		4.625		09/15/21		9,157
	4,550,000		O’Reilly Automotive, Inc		3.800		09/01/22		4,837
	1,300,000		O’Reilly Automotive, Inc		3.550		03/15/26		1,379
	5,050,000	g	Rolls-Royce plc		2.375		10/14/20		5,151
	1,850,000	g	Rolls-Royce plc		3.625		10/14/25		1,956
GBP	1,250,000		Rolls-Royce plc		3.375		06/18/26		1,837
$	11,575,000		Target Corp		2.500		04/15/26		11,819
	5,625,000		Target Corp		3.625		04/15/46		5,822
EUR	750,000		Wal-Mart Stores, Inc		1.900		04/08/22		923
$	150,000		Wal-Mart Stores, Inc		4.300		04/22/44		177
			TOTAL RETAILING						99,085
SOFTWARE & SERVICES - 0.9%
	4,175,000	g	Activision Blizzard, Inc		2.300		09/15/21		4,186
	4,350,000	g	Activision Blizzard, Inc		3.400		09/15/26		4,371
	1,500,000		Baidu, Inc		3.000		06/30/20		1,540
	20,350,000		Fidelity National Information Services, Inc		3.625		10/15/20		21,586
	12,121,000		Fidelity National Information Services, Inc		5.000		03/15/22		12,554
	800,000	g	IMS Health, Inc		5.000		10/15/26		832
	22,150,000		Microsoft Corp		1.550		08/08/21		22,055
	22,700,000		Microsoft Corp		2.400		08/08/26		22,715
	3,075,000		NCR Corp		4.625		02/15/21		3,106
	525,000		NCR Corp		5.875		12/15/21		553
	1,650,000	g	Open Text Corp		5.625		01/15/23		1,683
	13,600,000		Oracle Corp		1.900		09/15/21		13,635
	13,600,000		Oracle Corp		2.650		07/15/26		13,588
			TOTAL SOFTWARE & SERVICES						122,404
TECHNOLOGY HARDWARE & EQUIPMENT - 0.8%
	14,500,000		Alphabet, Inc		1.998		08/15/26		14,327
	3,475,000		Amphenol Corp		3.125		09/15/21		3,607
	11,325,000		Apple, Inc		3.250		02/23/26		12,045
	4,525,000		Apple, Inc		4.650		02/23/46		5,235
	19,750,000		Cisco Systems, Inc		1.850		09/20/21		19,879
	625,000	g	CommScope, Inc		4.375		06/15/20		644
	1,600,000	g	CommScope, Inc		5.000		06/15/21		1,656
	2,600,000	g	CommScope, Inc		5.500		06/15/24		2,743
	6,100,000	g	Diamond Finance Corp		3.480		06/01/19		6,273
	13,175,000	g	Diamond Finance Corp		4.420		06/15/21		13,770
	3,300,000		General Electric Co		5.250		12/06/17		3,458
EUR	1,200,000		General Electric Co		1.875		05/28/27		1,515
$	4,075,000		General Electric Co		4.125		10/09/42		4,471
	525,000	g	Sensata Technologies BV		5.625		11/01/24		555
	5,050,000		Tyco Electronics Group S.A.		2.375		12/17/18		5,139
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		7,096
EUR	1,000,000		Tyco Electronics Group S.A.		1.100		03/01/23		1,161
$	2,175,000		Tyco Electronics Group S.A.		3.700		02/15/26		2,326
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						105,900
TELECOMMUNICATION SERVICES - 1.8%
	2,000,000		Alibaba Group Holding Ltd		2.500		11/28/19		2,037
	500,000		Alibaba Group Holding Ltd		3.600		11/28/24		522

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,300,000		American Tower Corp		3.300	%	02/15/21	$	10,768
	4,350,000		American Tower Corp		3.500		01/31/23		4,539
	2,418,000		American Tower Corp		4.400		02/15/26		2,650
	4,125,000		American Tower Corp		3.375		10/15/26		4,184
	21,350,000		AT&T, Inc		1.400		12/01/17		21,363
	9,650,000		AT&T, Inc		2.450		06/30/20		9,836
	8,200,000		AT&T, Inc		2.625		12/01/22		8,266
	8,800,000		AT&T, Inc		4.450		04/01/24		9,677
	42,275,000		AT&T, Inc		3.400		05/15/25		43,458
EUR	1,250,000		AT&T, Inc		3.500		12/17/25		1,727
$	12,875,000		AT&T, Inc		4.500		05/15/35		13,554
	150,000		AT&T, Inc		4.800		06/15/44		158
	4,525,000		AT&T, Inc		4.750		05/15/46		4,760
	4,400,000	g	Bharti Airtel International Netherlands BV		5.125		03/11/23		4,771
	4,825,000		Crown Castle International Corp		2.250		09/01/21		4,821
	3,911,000		Crown Castle International Corp		4.875		04/15/22		4,363
	4,000,000	g	Deutsche Telekom International Finance BV		2.250		03/06/17		4,015
	17,300,000	g	Deutsche Telekom International Finance BV		1.950		09/19/21		17,287
EUR	1,250,000		Deutsche Telekom International Finance BV		0.625		04/03/23		1,440
$	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		6,222
	3,500,000	g	ENTEL Chile S.A.		4.875		10/30/24		3,605
	3,500,000	g,q	Oi S.A.		5.750		02/10/22		866
	3,950,000		Orange S.A.		5.500		02/06/44		4,937
	2,325,000		T-Mobile USA, Inc		6.375		03/01/25		2,528
	2,000,000	g	Turk Telekomunikasyon AS.		4.875		06/19/24		1,987
	9,275,000		Verizon Communications, Inc		3.450		03/15/21		9,883
	5,625,000		Verizon Communications, Inc		4.150		03/15/24		6,212
	30,520,000		Verizon Communications, Inc		4.272		01/15/36		31,864
	10,550,000		Verizon Communications, Inc		3.850		11/01/42		10,067
	3,350,000		Verizon Communications, Inc		4.125		08/15/46		3,360
	800,000		Verizon Communications, Inc		5.012		08/21/54		886
			TOTAL TELECOMMUNICATION SERVICES						256,613
TRANSPORTATION - 1.0%
	5,730,000	g	Asciano Finance Ltd		5.000		04/07/18		5,927
	1,000,000	g	Bombardier, Inc		5.500		09/15/18		1,015
	4,500,000		Burlington Northern Santa Fe LLC		4.550		09/01/44		5,223
	72,000		Burlington Northern Santa Fe LLC		4.150		04/01/45		79
	9,200,000		Canadian Pacific Railway Co		2.900		02/01/25		9,421
	3,325,000		Canadian Pacific Railway Co		4.800		08/01/45		3,895
	11,000,000		CSX Corp		3.350		11/01/25		11,803
	3,150,000		CSX Corp		4.100		03/15/44		3,359
	6,800,000	g	ERAC USA Finance LLC		2.600		12/01/21		6,931
	3,900,000	g	ERAC USA Finance LLC		3.300		10/15/22		4,086
	3,775,000	g	ERAC USA Finance LLC		3.300		12/01/26		3,886
	4,150,000	g	ERAC USA Finance LLC		5.625		03/15/42		5,032
	5,375,000		FedEx Corp		3.250		04/01/26		5,672
	6,311,000		GATX Corp		1.250		03/04/17		6,307
	7,150,000		GATX Corp		2.500		07/30/19		7,242
	5,900,000		GATX Corp		5.200		03/15/44		6,374
	6,650,000		GATX Corp		4.500		03/30/45		6,385
	17,344,000		Kansas City Southern		2.350		05/15/20		17,482
	9,075,000		Kansas City Southern		4.950		08/15/45		10,327
	2,350,000	g	Latam Airlines Group S.A.		7.250		06/09/20		2,409

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,800,000	g	Mexico City Airport Trust		4.250	%	10/31/26	$	2,807
	9,950,000		Norfolk Southern Corp		4.450		06/15/45		11,149
	2,625,000		Northrop Grumman Corp		1.750		06/01/18		2,646
	4,975,000	g	Transnet SOC Ltd		4.000		07/26/22		4,828
	3,500,000	g	TTX Co		3.600		01/15/25		3,650
			TOTAL TRANSPORTATION						147,935
UTILITIES - 3.8%
	408,000	i	AES Corp		3.842		06/01/19		409
	4,225,000		AES Corp		4.875		05/15/23		4,315
	1,500,000		AES Corp		5.500		03/15/24		1,552
	8,475,000		AGL Capital Corp		3.875		11/15/25		9,113
	2,125,000		AGL Capital Corp		4.400		06/01/43		2,294
	5,150,000		Alabama Power Co		3.550		12/01/23		5,624
	3,475,000		Alabama Power Co		4.150		08/15/44		3,811
	15,000,000		American Electric Power Co, Inc		1.650		12/15/17		15,028
	6,000,000		American Electric Power Co, Inc		2.950		12/15/22		6,268
	5,500,000		Atmos Energy Corp		8.500		03/15/19		6,400
	6,225,000		Black Hills Corp		4.250		11/30/23		6,790
	1,575,000		Black Hills Corp		3.150		01/15/27		1,591
	1,900,000	g	BRF GmbH		4.350		09/29/26		1,860
	4,750,000		Carolina Power & Light Co		5.300		01/15/19		5,185
	3,670,000		CenterPoint Energy Resources Corp		4.500		01/15/21		3,963
	3,550,000		CenterPoint Energy Resources Corp		6.250		02/01/37		4,208
	3,840,000	g	CEZ AS.		4.250		04/03/22		4,118
EUR	400,000		CEZ AS.		3.000		06/05/28		537
$	2,500,000		CMS Energy Corp		5.050		02/15/18		2,618
	4,675,000		CMS Energy Corp		3.600		11/15/25		5,005
	2,750,000	g	Comision Federal de Electricidad		4.875		05/26/21		2,894
	400,000	g	Comision Federal de Electricidad		6.125		06/16/45		428
	4,200,000		Commonwealth Edison Co		5.900		03/15/36		5,526
	2,750,000		Connecticut Light & Power Co		5.500		02/01/19		3,003
	7,500,000		Consolidated Edison Co of New York, Inc		4.500		12/01/45		8,682
	6,800,000		Consolidated Edison Co of New York, Inc		3.850		06/15/46		7,140
	4,575,000		Consolidated Edison, Inc		2.000		05/15/21		4,620
	5,775,000		Dominion Gas Holdings LLC		4.600		12/15/44		6,235
	3,775,000		Dominion Resources, Inc		2.000		08/15/21		3,766
	5,150,000		Dominion Resources, Inc		2.850		08/15/26		5,122
	1,400,000		Duke Energy Carolinas LLC		4.300		06/15/20		1,539
	5,825,000		Duke Energy Corp		1.800		09/01/21		5,794
	8,675,000		Duke Energy Corp		2.650		09/01/26		8,522
	750,000		Duke Energy Corp		4.800		12/15/45		854
	5,950,000		Duke Energy Corp		3.750		09/01/46		5,786
	17,500,000		Duke Energy Florida Project Finance LLC		1.196		03/01/20		17,462
	5,000,000		Duke Energy Florida Project Finance LLC		1.731		09/01/22		5,020
	1,450,000		Duke Energy Ohio, Inc		3.800		09/01/23		1,594
	13,350,000	g	Electricite de France S.A.		2.350		10/13/20		13,615
	13,350,000	g	Electricite de France S.A.		3.625		10/13/25		14,046
	7,100,000	g,i	Electricite de France S.A.		5.625		12/30/49		6,969
	8,900,000		Energy Transfer Partners LP		4.750		01/15/26		9,200
EUR	1,500,000		Engie S.A.		2.375		05/19/26		1,989
$	2,425,000		EnLink Midstream Partners LP		4.850		07/15/26		2,442
	5,700,000		Entergy Corp		2.950		09/01/26		5,702
	6,250,000	g	FirstEnergy Transmission LLC		4.350		01/15/25		6,706

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,050,000	g	Fortis, Inc		3.055	%	10/04/26	$	8,027
EUR	1,250,000		General Motors Financial International BV		1.875		10/15/19		1,469
$	3,000,000		Georgia Power Co		5.400		06/01/40		3,681
	2,450,000	g	Hrvatska Elektroprivreda		5.875		10/23/22		2,685
EUR	1,500,000		Iberdrola International BV		1.125		04/21/26		1,767
$	5,000,000		Indiana Michigan Power Co		7.000		03/15/19		5,605
	2,650,000		Indiana Michigan Power Co		4.550		03/15/46		2,990
	2,725,000		Integrys Energy Group, Inc		4.170		11/01/20		2,950
	2,425,000		Interstate Power & Light Co		3.700		09/15/46		2,470
	1,350,000	g	Israel Electric Corp Ltd		6.700		02/10/17		1,372
	3,000,000	g	Israel Electric Corp Ltd		5.625		06/21/18		3,169
	1,300,000	g	Israel Electric Corp Ltd		5.000		11/12/24		1,427
	1,000,000	g	Kansas Gas & Electric		6.700		06/15/19		1,131
	2,825,000		Kinder Morgan, Inc		9.000		02/01/19		3,238
EUR	1,000,000		Kinder Morgan, Inc		2.250		03/16/27		1,134
$	2,065,000		Kinder Morgan, Inc		5.300		12/01/34		2,062
	5,550,000		Kinder Morgan, Inc		5.000		03/01/43		5,232
	4,850,000		Kinder Morgan, Inc		5.400		09/01/44		4,873
	1,500,000	g	Korea Hydro & Nuclear Power Co Ltd		2.875		10/02/18		1,536
	1,375,000	g	Korea Hydro & Nuclear Power Co Ltd		2.375		10/28/19		1,402
	5,000,000		LG&E and KU Energy LLC		3.750		11/15/20		5,334
	4,225,000	g	Listrindo Capital BV		4.950		09/14/26		4,240
	12,500,000		Mercy Health		3.382		11/01/25		13,190
	4,240,000		MPLX LP		5.500		02/15/23		4,381
	3,800,000		MPLX LP		4.000		02/15/25		3,747
	2,800,000		Nevada Power Co		6.500		08/01/18		3,057
	3,335,000		Nevada Power Co		5.450		05/15/41		4,238
	168,000		NiSource Finance Corp		6.125		03/01/22		200
	3,700,000		NiSource Finance Corp		4.800		02/15/44		4,188
	3,375,000		Northeast Utilities		1.450		05/01/18		3,381
	2,000,000	g	Novolipetsk Steel via Steel Funding Ltd		4.500		06/15/23		2,015
	2,000,000		NRG Energy, Inc		6.250		05/01/24		2,030
	2,500,000		NTPC Ltd		5.625		07/14/21		2,825
	1,000,000		NTPC Ltd		4.750		10/03/22		1,104
	7,100,000		Oncor Electric Delivery Co LLC		2.150		06/01/19		7,185
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,620
	8,170,000		Oncor Electric Delivery Co LLC		4.550		12/01/41		9,559
	1,325,000		Oncor Electric Delivery Co LLC		3.750		04/01/45		1,388
	3,900,000		Pacific Gas & Electric Co		8.250		10/15/18		4,422
	5,850,000		Pacific Gas & Electric Co		4.250		03/15/46		6,593
	4,500,000	g	Perusahaan Gas Negara Persero Tbk PT		5.125		05/16/24		4,856
	1,200,000	g	Perusahaan Listrik Negara PT		5.500		11/22/21		1,336
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,193
	6,925,000		PPL Capital Funding, Inc		4.200		06/15/22		7,589
	4,725,000		PPL Capital Funding, Inc		3.100		05/15/26		4,806
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,118
	3,825,000		Progress Energy, Inc		7.050		03/15/19		4,317
	8,800,000		Public Service Co of Oklahoma		5.150		12/01/19		9,655
	2,640,000		Public Service Electric & Gas Co		5.300		05/01/18		2,810
	2,850,000		Public Service Electric & Gas Co		3.800		03/01/46		3,107
	2,940,000		QEP Resources, Inc		5.375		10/01/22		2,918
	5,550,000		Sempra Energy		2.875		10/01/22		5,738
	11,200,000		Shire Acquisitions Investments Ireland DAC		2.400		09/23/21		11,231
	3,750,000		Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		3,760

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,800,000		Southern Co		4.400	%	07/01/46	$	7,356
	2,000,000		Southern Co Gas Capital Corp		3.950		10/01/46		2,027
	7,825,000		Southern Power Co		4.150		12/01/25		8,431
	2,000,000	g	SP PowerAssets Ltd		3.250		11/24/25		2,147
	6,600,000		Spectra Energy Partners LP		4.500		03/15/45		6,630
	425,000		State Oil Co of the Azerbaijan Republic		4.750		03/13/23		420
	3,300,000	g	Tengizchevroil Finance Co International Ltd		4.000		08/15/26		3,267
	600,000		TransAlta Corp		6.900		05/15/18		627
	3,250,000	g	Transportadora de Gas del Peru S.A.		4.250		04/30/28		3,377
	3,875,000	g	Transurban Finance Co Pty Ltd		4.125		02/02/26		4,156
	3,680,000		Virginia Electric & Power Co		2.950		01/15/22		3,858
	9,325,000		Virginia Electric & Power Co		3.150		01/15/26		9,865
	700,000		Western Gas Partners LP		4.000		07/01/22		716
	2,650,000		Western Gas Partners LP		3.950		06/01/25		2,616
	6,900,000		Western Gas Partners LP		4.650		07/01/26		7,145
	5,075,000		Williams Partners LP		3.600		03/15/22		5,164
	7,250,000		Williams Partners LP		4.500		11/15/23		7,517
	1,175,000		Williams Partners LP		4.900		01/15/45		1,120
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,544
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		3,377
			TOTAL UTILITIES						538,056
			TOTAL CORPORATE BONDS						5,041,931
			(Cost $4,832,652)
GOVERNMENT BONDS -  45.6%
AGENCY SECURITIES - 1.7%
	11,624,162		AMAL Ltd		3.465		08/21/21		12,139
	5,500,000		Amber Circle Funding Ltd		3.250		12/04/22		5,776
	5,242,589		Export Lease Ten Co LLC		1.650		05/07/25		5,204
	15,535,000		Lutheran Medical Center		1.982		02/20/30		15,542
	11,684,921		Premier Aircraft Leasing		3.576		02/06/22		12,276
	34,000,000		Private Export Funding Corp (PEFCO)		1.375		02/15/17		34,094
	10,000,000		PEFCO		2.250		12/15/17		10,162
	5,000,000		PEFCO		4.375		03/15/19		5,392
	7,240,000		PEFCO		1.450		08/15/19		7,298
	27,750,000		PEFCO		2.250		03/15/20		28,625
	35,000,000		PEFCO		4.300		12/15/21		39,902
	30,000,000		PEFCO		2.050		11/15/22		30,727
	1,471,094		Totem Ocean Trailer Express, Inc		4.514		12/18/19		1,537
	13,160,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		13,862
	2,875,000		US Department of Housing and Urban Development (HUD)		5.380		08/01/18		2,890
	10,000,000		Montefiore Medical Center		2.152		10/20/26		10,069
	10,500,000		Tunisia Government AID Bonds		1.416		08/05/21		10,545
			TOTAL AGENCY SECURITIES						246,040
FOREIGN GOVERNMENT BONDS - 5.9%
	4,000,000	g	Abu Dhabi Government International Bond		3.125		05/03/26		4,164
	15,000,000		African Development Bank		1.375		12/17/18		15,109
	1,450,000	g	Argentine Republic Government International Bond		7.625		04/22/46		1,636
INR	135,000,000		Asian Development Bank		6.200		10/06/26		1,997
AUD	1,900,000		Australia Government International Bond		3.250		10/21/18		1,503
	1,700,000		Australia Government International Bond		5.750		05/15/21		1,538

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
AUD	1,800,000		Australia Government International Bond		3.750	%	04/21/37	$	1,640
$	2,250,000	g	Banque Centrale de Tunisie S.A.		5.750		01/30/25		2,190
	1,900,000		Bermuda Government International Bond		5.603		07/20/20		2,128
	6,000,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		5,910
BRL	9,000,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/19		2,692
	5,750,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/21		1,686
$	4,250,000		Brazilian Government International Bond		4.250		01/07/25		4,244
	2,000,000		Brazilian Government International Bond		5.625		01/07/41		1,985
EUR	750,000		Bundesrepublik Deutschland		2.500		08/15/46		1,324
$	3,100,000	g	Caisse d’Amortissement de la Dette Sociale		1.500		01/28/19		3,117
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,122
	1,850,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		07/28/20		1,877
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		02/12/22		4,046
EUR	400,000		Caisse d’Amortissement de la Dette Sociale		1.375		11/25/24		502
$	25,275,000		Canada Government International Bond		0.875		02/14/17		25,291
CAD	3,200,000	g	Canada Housing Trust No		1.150		12/15/21		2,449
	1,460,000		Canadian Government International Bond		0.250		05/01/18		1,108
	1,400,000		Canadian Government International Bond		0.750		03/01/21		1,075
	600,000		Canadian Government International Bond		2.500		06/01/24		514
	1,825,000		Canadian Government International Bond		1.500		06/01/26		1,456
$	5,410,000		Colombia Government International Bond		4.375		07/12/21		5,859
	1,775,000		Colombia Government International Bond		2.625		03/15/23		1,750
	2,500,000		Colombia Government International Bond		4.500		01/28/26		2,756
	1,500,000		Colombia Government International Bond		6.125		01/18/41		1,819
COP	2,730,000,000		Colombian TES		7.000		05/04/22		963
$	3,500,000	g	Costa Rica Government International Bond		7.158		03/12/45		3,771
DKK	3,700,000		Denmark Government International Bond		1.500		11/15/23		625
	3,600,000		Denmark Government International Bond		1.750		11/15/25		630
DOP	63,500,000	g	Dominican Republic International Bond		10.000		01/05/17		1,376
$	1,070,000	g	Dominican Republic International Bond		7.450		04/30/44		1,271
	3,500,000	g	Ecuador Government International Bond		10.750		03/28/22		3,570
	2,475,000	g	Egypt Government International Bond		5.875		06/11/25		2,355
IDR	25,500,000,000		European Bank for Reconstruction & Development		7.250		08/22/17		1,963
INR	130,000,000	g	European Investment Bank		5.750		10/09/17		1,923
$	10,000,000		European Investment Bank		2.500		04/15/21		10,486
	3,500,000		European Investment Bank		4.875		02/15/36		4,851
	5,500,000	g	Export-Import Bank of China		2.500		07/31/19		5,619
	2,000,000	g	Export-Import Bank of China		2.850		09/16/20		2,051
	12,800,000		Export-Import Bank of Korea		2.250		01/21/20		13,003
	3,000,000		Export-Import Bank of Korea		2.625		05/26/26		3,082
EUR	1,900,000		France Government Bond OAT		1.750		11/25/24		2,457
	4,000,000		France Government Bond OAT		1.500		05/25/31		5,136
	1,795,000		France Government Bond OAT		3.250		05/25/45		3,159
$	1,275,000	g	Ghana Government International Bond		9.250		09/15/22		1,306
	6,350,000	g	Guatemala Government International Bond		4.500		05/03/26		6,636
EUR	1,800,000	g	Hellenic Republic Government International Bond		4.750		04/17/19		1,837
HUF	515,000,000		Hungary Government International Bond		6.500		06/24/19		2,145
$	5,400,000		Hungary Government International Bond		5.750		11/22/23		6,352
	15,200,000		Hydro Quebec		1.375		06/19/17		15,240
CAD	1,800,000		Hydro-Quebec		5.000		02/15/45		1,989
EUR	1,000,000	g	Indonesia Government International Bond		2.625		06/14/23		1,179
$	400,000	g	Indonesia Government International Bond		4.125		01/15/25		425
	1,350,000	g	Indonesia Government International Bond		5.950		01/08/46		1,696
IDR	13,000,000,000		Indonesia Treasury Bond		8.375		09/15/26		1,082

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	900,000	g	Instituto de Credito Oficial		1.625	%	09/14/18	$	900
AUD	900,000		Inter-American Development Bank		2.750		10/30/25		707
	1,300,000		International Bank for Reconstruction & Development		2.800		01/13/21		1,020
EUR	1,300,000		Ireland Government International Bond		3.900		03/20/23		1,841
	1,775,000		Ireland Government International Bond		1.000		05/15/26		2,120
ILS	4,900,000		Israel Government Bond-Fixed		6.250		10/30/26		1,849
	3,100,000		Israel Government Bond-Fixed		5.500		01/31/42		1,221
EUR	2,100,000		Italy Buoni Poliennali Del Tesoro		4.750		06/01/17		2,438
	2,100,000		Italy Buoni Poliennali Del Tesoro		1.500		08/01/19		2,459
	5,000,000		Italy Buoni Poliennali Del Tesoro		2.500		12/01/24		6,300
	525,000		Italy Buoni Poliennali Del Tesoro		1.600		06/01/26		612
	2,300,000	g	Italy Buoni Poliennali Del Tesoro		1.650		03/01/32		2,624
	1,000,000	g	Italy Buoni Poliennali Del Tesoro		3.250		09/01/46		1,381
$	5,310,000		Italy Government International Bond		6.875		09/27/23		6,638
	1,881,000	g,i	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		1,850
	3,825,000		Jamaica Government International Bond		8.000		03/15/39		4,571
	8,600,000		Japan Bank for International Cooperation		2.375		04/20/26		8,921
	2,500,000	g	Japan Finance Organization for Municipalities		2.125		02/12/21		2,530
	4,000,000	g	Japan Finance Organization for Municipalities		2.125		04/13/21		4,040
JPY	100,000,000		Japan Finance Organization for Municipalities		0.539		10/16/24		1,027
	113,000,000		Japan Finance Organization for Municipalities		0.450		03/14/25		1,155
	103,000,000		Japan Finance Organization for Municipalities		0.484		06/13/25		1,057
	140,000,000		Japan Finance Organization for Municipalities		0.020		03/13/26		1,381
	150,000,000		Japan Government Ten Year Bond		0.300		12/20/25		1,537
	350,000,000		Japan Government Thirty Year Bond		2.400		11/20/31		4,627
	350,000,000		Japan Government Thirty Year Bond		2.300		05/20/32		4,598
	300,000,000		Japan Government Thirty Year Bond		2.500		09/20/34		4,113
	530,000,000		Japan Government Twenty Year Bond		1.900		03/22/21		5,731
	400,000,000		Japan Government Twenty Year Bond		2.100		03/20/26		4,771
	430,000,000		Japan Government Twenty Year Bond		0.400		03/20/36		4,281
$	3,400,000	g	Kazakhstan Government International Bond		6.500		07/21/45		4,228
	18,750,000		KFW		2.625		01/25/22		19,847
	4,500,000	g	Kommunalbanken AS.		1.375		06/08/17		4,513
	5,800,000	g,i	Kommunalbanken AS.		0.991		02/20/18		5,809
NOK	1,200,000		Kommunalbanken AS.		2.000		05/03/18		152
$	7,700,000	g	Kommunalbanken AS.		1.625		01/15/20		7,745
	3,750,000	g	Kommunalbanken AS.		1.625		02/10/21		3,782
EUR	500,000		Kommunalbanken AS.		0.625		04/20/26		582
$	5,000,000	g	Kommuninvest I Sverige AB		2.000		11/12/19		5,106
SEK	4,300,000		Kommuninvest I Sverige AB		1.000		09/15/21		522
$	2,400,000		Korea Development Bank		1.500		01/22/18		2,403
	2,600,000		Korea Development Bank		2.500		03/11/20		2,673
	2,750,000		Korea Development Bank		3.000		01/13/26		2,920
	6,000,000	g	Korea Housing Finance Corp		1.625		09/15/18		6,004
KRW	2,150,000,000		Korea Treasury Bond		2.000		03/10/21		2,010
	4,300,000,000		Korea Treasury Bond		1.875		06/10/26		4,066
	1,600,000,000		Korea Treasury Bond		2.625		09/10/35		1,730
$	6,682,000		Landwirtschaftliche Rentenbank		2.000		01/13/25		6,807
	1,700,000	g	Lithuania Government International Bond		7.375		02/11/20		2,019
	1,100,000	g	Lithuania Government International Bond		6.125		03/09/21		1,299
	5,250,000	g	Lithuania Government International Bond		6.625		02/01/22		6,483
MYR	15,000,000		Malaysia Government International Bond		3.800		08/17/23		3,700
	2,400,000		Malaysia Government International Bond		4.232		06/30/31		600
	5,000,000		Malaysia Government International Bond		4.254		05/31/35		1,229

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
MXN	21,000,000		Mexican Bonos		6.500	%	06/10/21	$	1,116
	56,500,000		Mexican Bonos		5.750		03/05/26		2,857
	16,000,000		Mexican Bonos		10.000		11/20/36		1,150
$	4,797,000		Mexico Government International Bond		4.000		10/02/23		5,130
	2,750,000		Mexico Government International Bond		4.750		03/08/44		2,860
	5,275,000		Mexico Government International Bond		4.350		01/15/47		5,196
	1,700,000	g	Morocco Government International Bond		5.500		12/11/42		1,944
	2,900,000	g	Municipality Finance plc		1.125		09/16/19		2,891
	4,500,000	g	Nacional Financiera SNC		3.375		11/05/20		4,670
	6,075,000	g	Namibia Government International Bonds		5.250		10/29/25		6,410
AUD	500,000		New South Wales Treasury Corp		4.000		04/08/21		419
	500,000		New South Wales Treasury Corp		4.000		05/20/26		442
NZD	500,000		New Zealand Government International Bond		6.000		05/15/21		429
	700,000		New Zealand Government International Bond		4.500		04/15/27		618
$	1,500,000	g	Nigeria Government International Bond		6.375		07/12/23		1,475
	43,950,000		North American Development Bank		2.400		10/26/22		44,617
NOK	13,000,000	g	Norway Government International Bond		2.000		05/24/23		1,727
$	2,500,000	g	Pakistan Government International Bond		8.250		09/30/25		2,753
	1,175,000		Panama Government International Bond		5.200		01/30/20		1,298
	3,300,000		Panama Government International Bond		3.875		03/17/28		3,572
	5,300,000		Panama Government International Bond		6.700		01/26/36		7,235
	1,100,000	g	Paraguay Government International Bond		5.000		04/15/26		1,191
PEN	2,535,000	g	Peruvian Government International Bond		8.200		08/12/26		890
$	3,025,000		Peruvian Government International Bond		4.125		08/25/27		3,456
PEN	904,000	g,h	Peruvian Government International Bond		6.350		08/12/28		267
$	3,000,000		Peruvian Government International Bond		8.750		11/21/33		4,868
	2,525,000		Peruvian Government International Bond		5.625		11/18/50		3,346
	2,500,000		Philippine Government International Bond		5.000		01/13/37		3,198
	1,700,000		Philippine Government International Bond		3.700		03/01/41		1,859
	6,267,000		Poland Government International Bond		5.125		04/21/21		7,084
PLN	6,600,000		Poland Government International Bond		4.000		10/25/23		1,873
$	15,000,000	g	Province of Alberta Canada		1.000		06/21/17		15,006
CAD	2,200,000		Province of British Columbia Canada		3.250		12/18/21		1,838
$	15,000,000		Province of British Columbia Canada		2.000		10/23/22		15,266
	20,750,000		Province of Manitoba Canada		1.750		05/30/19		21,048
	10,000,000		Province of Manitoba Canada		3.050		05/14/24		10,801
	25,000,000		Province of Manitoba Canada		2.125		06/22/26		25,061
	20,000,000		Province of New Brunswick Canada		2.750		06/15/18		20,541
	2,250,000		Province of Quebec Canada		5.125		11/14/16		2,261
	8,835,000		Province of Quebec Canada		4.625		05/14/18		9,340
	22,500,000		Province of Quebec Canada		3.500		07/29/20		24,212
	6,000,000		Province of Quebec Canada		7.500		09/15/29		9,036
	1,000,000	g	Provincia de Buenos Aires		5.750		06/15/19		1,033
	2,000,000	g	Provincia de Mendoza Argentina		8.375		05/19/24		2,135
	1,325,000	g	Qatar Government International Bond		4.625		06/02/46		1,435
	2,400,000	g	Republic of Angola		9.500		11/12/25		2,381
	1,200,000	g	Republic of Ghana		7.875		08/07/23		1,119
	2,135,000	g	Republic of Paraguay		6.100		08/11/44		2,429
	1,150,000	g	Republic of Serbia		4.875		02/25/20		1,201
	1,167,198	i	Republic of Serbia		6.750		11/01/24		1,175
	500,000	g	Republic of Zambia		5.375		09/20/22		440
EUR	1,300,000	g	Romanian Government International Bond		2.875		05/26/28		1,580
RUB	179,000,000		Russian Federal Bond - OFZ		6.200		01/31/18		2,768
	95,900,000		Russian Federal Bond - OFZ		7.000		08/16/23		1,437

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,250,000	g	Russian Foreign Bond - Eurobond		4.875	%	09/16/23	$	3,570
	5,000,000	g	Russian Foreign Bond - Eurobond		4.750		05/27/26		5,400
	1,800,000	g	Russian Foreign Bond - Eurobond		5.625		04/04/42		2,076
SGD	800,000		Singapore Government International Bond		2.750		03/01/46		667
$	5,085,000	g	Slovenia Government International Bond		5.500		10/26/22		5,941
	2,000,000	g	Slovenia Government International Bond		5.250		02/18/24		2,348
	1,300,000	g	Socialist Republic of Vietnam		6.750		01/29/20		1,444
ZAR	64,700,000		South Africa Government International Bond		8.250		09/15/17		4,750
$	4,000,000		South Africa Government International Bond		5.875		09/16/25		4,520
	2,450,000		South Africa Government International Bond		4.875		04/14/26		2,569
ZAR	12,200,000		South Africa Government International Bond		10.500		12/21/26		998
	15,100,000		South Africa Government International Bond		8.750		01/31/44		1,031
$	5,400,000	h	South Africa Government International Bond		5.000		10/12/46		5,434
	3,250,000	g	Southern Gas Corridor CJSC		6.875		03/24/26		3,640
EUR	1,100,000		Spain Government International Bond		0.250		01/31/19		1,250
	2,700,000		Spain Government International Bond		0.750		07/30/21		3,137
	3,400,000	g	Spain Government International Bond		2.750		10/31/24		4,449
$	3,000,000	g	Sri Lanka Government International Bond		5.750		01/18/22		3,061
	3,100,000	g	Sri Lanka Government International Bond		6.850		11/03/25		3,313
	4,000,000		Svensk Exportkredit AB		1.125		04/05/18		4,005
	4,000,000		Svensk Exportkredit AB		1.750		03/10/21		4,048
SEK	10,450,000		Sweden Government International Bond		2.500		05/12/25		1,487
	4,400,000		Sweden Government International Bond		2.250		06/01/32		631
THB	35,500,000		Thailand Government International Bond		3.850		12/12/25		1,172
	18,500,000		Thailand Government International Bond		3.400		06/17/36		600
AUD	500,000		Treasury Corp of Victoria		6.000		06/15/20		441
	500,000		Treasury Corp of Victoria		3.000		10/20/28		407
$	4,300,000	g	Trinidad & Tobago Government International Bond		4.500		08/04/26		4,429
	4,500,000		Turkey Government International Bond		5.125		03/25/22		4,687
TRY	3,900,000		Turkey Government International Bond		7.100		03/08/23		1,161
$	2,000,000		Turkey Government International Bond		3.250		03/23/23		1,881
	5,750,000		Turkey Government International Bond		5.750		03/22/24		6,199
	2,750,000		Turkey Government International Bond		4.875		10/09/26		2,802
	950,000		Turkey Government International Bond		6.875		03/17/36		1,103
	3,975,000		Turkey Government International Bond		6.625		02/17/45		4,650
GBP	1,700,000		United Kingdom Gilt		1.750		07/22/19		2,301
	525,000		United Kingdom Gilt		1.500		01/22/21		717
	2,800,000		United Kingdom Gilt		2.250		09/07/23		4,081
	3,900,000		United Kingdom Gilt		2.750		09/07/24		5,908
	1,900,000		United Kingdom Gilt		4.750		12/07/30		3,655
	1,985,000		United Kingdom Gilt		4.250		03/07/36		3,869
	1,075,000		United Kingdom Gilt		3.500		01/22/45		2,053
$	2,352,945		Uruguay Government International Bond		4.375		10/27/27		2,532
	6,750,000		Uruguay Government International Bond		5.100		06/18/50		7,003
	2,000,000	g	Vietnam Government International Bond		4.800		11/19/24		2,115
	2,000,000	g	Zambia Government International Bond		8.970		07/30/27		1,965
			TOTAL FOREIGN GOVERNMENT BONDS						837,078
MORTGAGE BACKED - 20.4%
	26,809,636		Federal Home Loan Mortgage Corp (FHLMC)		3.000		03/15/41		27,795
	38,498,960		FHLMC		3.500		09/15/41		39,923
	13,847,364		FHLMC		3.000		12/15/41		14,409
	33,996,072		FHLMC		3.000		09/15/42		35,124
	15,614,511	i	FHLMC		0.874		07/15/45		15,573

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	48,731,629		FHLMC		3.500	%	07/15/46	$	7,224
	3,994		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.500		12/01/16		4
	55,084		FGLMC		7.000		10/01/20		58
	13,394		FGLMC		7.000		05/01/23		15
	188,161		FGLMC		6.000		10/01/23		215
	116,856		FGLMC		6.000		11/01/23		133
	19,282,954		FGLMC		3.500		03/01/27		20,383
	34,929		FGLMC		8.000		01/01/31		40
	76,277		FGLMC		7.000		12/01/31		79
	5,740		FGLMC		7.000		01/01/32		6
	52,070		FGLMC		8.000		02/01/32		54
	941,030		FGLMC		4.500		07/01/33		1,034
	1,110,962		FGLMC		5.500		12/01/33		1,264
	2,103,291		FGLMC		5.500		12/01/33		2,396
	6,205,269		FGLMC		7.000		12/01/33		7,497
	7,422,872		FGLMC		5.000		01/01/34		8,341
	2,224,760		FGLMC		4.500		10/01/34		2,435
	1,223,773		FGLMC		4.500		04/01/35		1,344
	2,198,210		FGLMC		7.000		05/01/35		2,656
	412,526		FGLMC		5.000		02/01/36		461
	9,937		FGLMC		6.500		05/01/36		11
	2,461,276		FGLMC		5.000		04/01/38		2,768
	1,966,818		FGLMC		5.000		07/01/39		2,178
	11,619,044	w	FGLMC		4.500		11/01/40		13,047
	12,731,845	w	FGLMC		4.500		12/01/40		14,301
	214,124	h	FGLMC		4.500		12/01/43		239
	126,705	h	FGLMC		4.500		02/01/44		141
	5,416,369		FGLMC		4.500		10/01/44		6,041
	2,785,495		FGLMC		4.500		11/01/44		3,107
	2,345,189		FGLMC		4.500		11/01/44		2,616
	1,812,567		FGLMC		4.500		12/01/44		2,022
	1,001,368		FGLMC		4.500		12/01/44		1,105
	10,989,164		FGLMC		3.500		04/01/45		11,771
	83,391,942		FGLMC		3.500		10/01/45		89,047
	65,169,224		FGLMC		4.000		12/01/45		71,013
	8,698,943		FGLMC		4.000		05/01/46		9,503
	7,827,774		FGLMC		3.500		06/01/46		8,361
	10,890		Federal National Mortgage Association (FNMA)		8.000		03/01/23		11
	92,284		FNMA		8.000		07/01/24		108
	19,786		FNMA		9.000		11/01/25		23
	17,000,000	h	FNMA		2.500		10/25/31		17,609
	25,000,000	h	FNMA		3.000		10/25/31		26,247
	69,000,000	h	FNMA		2.500		11/25/31		71,342
	34,000,000	h	FNMA		3.000		11/25/31		35,648
	40,000,000	h	FNMA		2.500		12/25/31		41,278
	36,000,000	h	FNMA		3.000		12/25/31		37,686
	1,129,797		FNMA		6.500		07/01/32		1,328
	158,288		FNMA		7.000		07/01/32		170
	94,474		FNMA		7.000		07/01/32		106
	71,289		FNMA		4.500		03/25/33		71
	7,984,522		FNMA		5.000		06/01/33		8,884
	1,000,522		FNMA		4.500		10/01/33		1,104
	18,903,884		FNMA		5.000		10/01/33		21,088
	2,290,309		FNMA		5.000		11/01/33		2,599

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	110,630	FNMA		5.000	%	11/01/33	$	124
	1,000,169	FNMA		5.000		03/01/34		1,124
	7,941,918	FNMA		5.500		03/01/34		9,030
	7,161,759	FNMA		5.500		02/01/35		8,148
	1,749,336	FNMA		4.500		05/01/35		1,930
	11,578,164	FNMA		5.000		05/01/35		12,923
	5,149,883	FNMA		5.000		10/01/35		5,731
	4,445,000	FNMA		5.000		02/01/36		4,947
	45,083	FNMA		6.500		03/01/37		52
	2,654,125	FNMA		5.500		08/01/37		3,018
	1,289,936	FNMA		6.000		09/01/37		1,517
	1,172,057	FNMA		6.000		09/01/37		1,373
	957,805	FNMA		6.500		09/01/37		1,103
	1,542,655	FNMA		5.500		01/01/38		1,754
	67,644	FNMA		6.500		02/01/38		78
	4,134,630	FNMA		5.500		04/01/38		4,657
	8,395,679	FNMA		5.500		11/01/38		9,861
	5,675,118	FNMA		5.500		12/01/38		6,546
	171,424	FNMA		4.500		04/01/39		192
	4,591,715	FNMA		4.500		05/01/39		5,087
	594,141	FNMA		4.000		07/01/39		645
	4,291,181	FNMA		5.500		08/01/39		4,903
	2,883,591	FNMA		4.500		10/01/39		3,159
	256,228	FNMA		4.500		02/01/40		288
	3,210,117	FNMA		4.500		06/01/40		3,527
	1,630,200	FNMA		5.000		08/01/40		1,812
	9,693,807	FNMA		5.000		09/01/40		10,778
	665,241	FNMA		6.000		10/01/40		764
	729,129	FNMA		4.500		11/01/40		815
	3,822,029	FNMA		4.500		11/01/40		4,194
	25,440,905	FNMA		4.500		01/01/41		28,375
	1,196,223	FNMA		4.500		01/01/41		1,345
	1,028,367	FNMA		4.500		02/01/41		1,156
	13,623,337	FNMA		5.000		05/01/41		15,131
	1,181,905	FNMA		4.500		06/01/41		1,329
	1,286,711	FNMA		4.500		06/01/41		1,438
	839,845	FNMA		5.000		06/01/41		936
	4,816,515	FNMA		5.000		07/01/41		5,370
	1,126,540	FNMA		5.000		08/01/41		1,253
	410,145	FNMA		4.500		09/01/41		451
	5,472,677	FNMA		4.500		09/01/41		6,066
	4,906,051	FNMA		4.500		11/01/41		5,388
	1,589,930	FNMA		4.500		12/01/41		1,778
	26,191,998	FNMA		5.500		12/01/41		30,429
	1,303,094	FNMA		4.500		01/01/42		1,457
	2,430,786	FNMA		4.500		01/01/42		2,711
	6,491,945	FNMA		3.500		02/01/42		6,935
	16,581,602	FNMA		4.500		02/01/42		18,231
	1,483,455	FNMA		4.500		03/01/42		1,667
	24,858,844	FNMA		3.000		03/25/42		25,770
	9,421,999	FNMA		4.500		04/01/42		10,347
	1,334,513	FNMA		4.500		04/01/42		1,492
	819,328	FNMA		4.500		04/01/42		901
	22,990,472	FNMA		4.500		06/01/42		25,291

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,476,849		FNMA		4.500	%	06/01/42	$	1,652
	26,605,862		FNMA		3.000		06/25/42		27,612
	38,735,654		FNMA		3.500		07/01/42		41,387
	1,201,350		FNMA		4.500		07/01/42		1,350
	12,855,490	i	FNMA		1.025		08/25/42		12,877
	20,535,623		FNMA		3.000		10/01/42		21,406
	222,997		FNMA		3.000		10/01/42		232
	11,985,799	i	FNMA		0.925		11/25/42		11,956
	28,613,930		FNMA		3.500		11/25/42		4,622
	22,793,962	w	FNMA		3.000		01/01/43		23,756
	28,812,314	w	FNMA		3.000		02/01/43		30,028
	19,851,729		FNMA		3.000		02/25/43		20,677
	14,018		FNMA		3.000		04/01/43		15
	18,725,531		FNMA		3.000		08/25/43		19,550
	9,752,776		FNMA		4.000		04/01/44		10,627
	3,091,733		FNMA		4.000		06/01/44		3,367
	5,887,366		FNMA		4.000		06/01/44		6,415
	9,488,856		FNMA		4.500		06/01/44		10,628
	1,630,335		FNMA		4.000		07/01/44		1,775
	3,274,858		FNMA		4.000		07/01/44		3,567
	5,749,601		FNMA		4.000		08/01/44		6,263
	2,185,732		FNMA		4.000		08/01/44		2,381
	15,147,577		FNMA		4.000		08/01/44		16,500
	5,922,141		FNMA		4.000		08/01/44		6,447
	1,155,400		FNMA		4.000		09/01/44		1,259
	1,499,154		FNMA		4.000		09/01/44		1,633
	7,017,965		FNMA		4.000		10/01/44		7,645
	9,363,981		FNMA		4.500		10/01/44		10,491
	16,938,198		FNMA		4.500		11/01/44		18,977
	14,152,515		FNMA		4.000		12/01/44		15,416
	7,316,111		FNMA		4.000		12/01/44		7,914
	5,063,883		FNMA		4.500		12/01/44		5,673
	9,043,740		FNMA		4.000		01/01/45		9,897
	687,326		FNMA		3.500		03/01/45		735
	1,094,553		FNMA		3.500		03/01/45		1,171
	2,366,681		FNMA		4.500		03/01/45		2,653
	759,746		FNMA		4.500		04/01/45		852
	20,114,863		FNMA		3.500		05/01/45		21,610
	2,628,209		FNMA		4.000		05/01/45		2,876
	5,812,591		FNMA		4.000		06/01/45		6,362
	17,588,805		FNMA		4.000		07/01/45		19,234
	3,008,981		FNMA		4.000		08/01/45		3,293
	13,682,963		FNMA		4.000		08/01/45		14,707
	10,668,322		FNMA		3.500		09/01/45		11,410
	1,649,416		FNMA		4.000		10/01/45		1,821
	10,441,396		FNMA		4.000		11/01/45		11,530
	3,328,099		FNMA		4.000		12/01/45		3,675
	13,719,426		FNMA		4.000		12/01/45		14,948
	1,439,480		FNMA		3.500		01/01/46		1,540
	52,968,862		FNMA		4.000		01/01/46		57,730
	27,049,941		FNMA		3.500		02/01/46		28,900
	7,869,788		FNMA		4.000		02/01/46		8,581
	1,532,723		FNMA		3.500		03/01/46		1,639
	3,267,233		FNMA		3.500		04/01/46		3,495

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	101,401,206		FNMA		3.500	%	06/01/46	$	107,031
	63,738,437		FNMA		3.500		07/01/46		67,435
	44,641,723	h	FNMA		3.500		08/01/46		47,120
	8,890,880		FNMA		3.500		10/01/46		9,498
	5,673,727		FNMA		3.500		10/01/46		6,072
	2,176,208		FNMA		4.000		10/01/46		2,380
	6,000,000	h	FNMA		3.000		10/25/46		6,238
	109,000,000	h	FNMA		3.500		10/25/46		115,029
	6,168,355		FNMA		3.500		10/25/46		1,158
	5,000,000	h	FNMA		4.000		10/25/46		5,370
	3,723,934		FNMA		3.500		11/01/46		3,948
	85,000,000	h	FNMA		3.000		11/25/46		88,169
	8,000,000	h	FNMA		3.500		11/25/46		8,433
	173,000,000	h	FNMA		4.000		11/25/46		185,590
	27,000,000	h	FNMA		4.500		11/25/46		29,537
	114,000,000	h	FNMA		3.000		12/25/46		118,011
	41,526,772		FNMA		3.500		07/01/55		43,833
	457		Government National Mortgage Association (GNMA)		9.000		11/15/16		0	^
	288		GNMA		9.000		12/15/16		0	^
	24		GNMA		9.000		12/15/16		0	^
	124		GNMA		9.500		12/15/16		0	^
	5,779		GNMA		8.000		06/15/24		6
	25,972		GNMA		8.500		11/20/30		31
	37,603		GNMA		8.500		12/20/30		46
	668,309		GNMA		5.500		07/15/33		765
	15,466,190		GNMA		3.700		10/15/33		17,249
	414,613		GNMA		5.500		11/20/33		469
	1,472,015		GNMA		5.500		03/20/35		1,672
	713,453		GNMA		5.500		12/20/35		804
	386,620		GNMA		6.000		10/20/36		449
	422,810		GNMA		6.000		01/20/37		496
	1,246,625		GNMA		6.000		02/20/37		1,447
	899,072		GNMA		5.000		04/15/38		1,010
	871,892		GNMA		5.500		07/15/38		987
	1,316,379		GNMA		5.500		07/20/38		1,457
	458,766		GNMA		6.000		08/20/38		526
	842,599		GNMA		6.500		11/20/38		989
	71,326		GNMA		4.500		02/20/39		79
	648,293		GNMA		2.176		05/16/39		653
	2,669,884		GNMA		5.000		06/15/39		3,040
	1,697,240		GNMA		5.000		06/15/39		1,930
	10,867,092		GNMA		4.500		09/20/39		12,039
	11,992,434		GNMA		3.700		08/15/40		12,971
	126,041		GNMA		4.500		08/20/41		139
	374,146		GNMA		4.500		09/20/41		413
	38,591,838		GNMA		3.500		10/20/42		6,672
	84,808		GNMA		4.500		01/20/44		94
	91,796		GNMA		4.500		02/20/44		101
	1,193,141		GNMA		4.500		05/20/44		1,316
	151,675		GNMA		4.500		05/20/44		167
	1,191,438		GNMA		4.500		08/20/44		1,313
	1,235,921		GNMA		4.500		09/20/44		1,362
	400,311		GNMA		4.500		10/20/44		441

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	408,201		GNMA		4.500	%	11/20/44	$	451
	755,613		GNMA		4.500		12/20/44		833
	1,119,902		GNMA		4.500		02/20/45		1,233
	1,490,474		GNMA		4.500		08/20/45		1,645
	1,217,058		GNMA		4.500		08/20/45		1,343
	1,236,106		GNMA		4.500		12/20/45		1,364
	93,669,330		GNMA		3.500		05/20/46		99,626
	57,141,489		GNMA		4.000		08/20/46		61,437
	45,000,000	h	GNMA		3.500		10/20/46		47,798
	100,000,000	h	GNMA		3.000		11/20/46		104,561
	60,000,000	h	GNMA		3.000		12/20/46		62,614
			TOTAL MORTGAGE BACKED						2,878,010
MUNICIPAL BONDS - 2.7%
	10,000,000		City of Dallas TX Waterworks & Sewer System Revenue		0.985		10/01/18		9,981
	8,725,000		City of Dallas TX Waterworks & Sewer System Revenue		1.217		10/01/19		8,704
	5,000,000		City of Dallas TX Waterworks & Sewer System Revenue		1.868		10/01/22		4,984
	2,775,000		City of Dallas TX Waterworks & Sewer System Revenue		2.068		10/01/23		2,783
	1,350,000		City of Dallas TX Waterworks & Sewer System Revenue		2.389		10/01/25		1,361
	3,000,000		City of Dallas TX Waterworks & Sewer System Revenue		2.439		10/01/26		3,022
	2,025,000		City of San Antonio TX Customer Facility Charge Revenue		4.253		07/01/24		2,149
	1,575,000		City of San Antonio TX Customer Facility Charge Revenue		4.353		07/01/25		1,684
	9,950,000		Commonwealth of Massachusetts		3.277		06/01/46		10,408
	1,875,000		County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,865
	1,505,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,525
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		1,506
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,525
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		3,510
	2,500,000		County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,506
	980,000		Imperial Irrigation District Electric System Revenue		0.945		11/01/16		980
	1,875,000		Imperial Irrigation District Electric System Revenue		0.995		11/01/17		1,872
	1,895,000		Imperial Irrigation District Electric System Revenue		1.095		11/01/18		1,890
	5,265,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.125		09/01/19		5,212
	2,350,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.500		09/01/21		2,309
	1,000,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		2.000		09/01/22		999
	4,805,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		4,751
	2,560,000		Michigan Finance Authority		1.941		11/01/21		2,561
	3,000,000		Michigan Finance Authority		2.244		11/01/22		3,020
	6,000,000		New York State Dormitory Authority		3.879		07/01/46		6,127
	2,000,000		Permanent University Fund		1.439		07/01/17		2,007
	2,625,000		Permanent University Fund		1.730		07/01/18		2,660
	4,720,000		Permanent University Fund		1.880		07/01/19		4,785
	2,320,000		Permanent University Fund		2.258		07/01/20		2,370
	2,160,000		Permanent University Fund		2.408		07/01/21		2,242
	2,750,000		Permanent University Fund		2.508		07/01/22		2,860
	2,855,000		Permanent University Fund		2.608		07/01/23		2,994
	3,250,000		Permanent University Fund		2.708		07/01/24		3,405
	2,335,000		Permanent University Fund		2.808		07/01/25		2,462
	3,775,000		Permanent University Fund		2.908		07/01/26		4,016

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,000,000		Permanent University Fund		3.008	%	07/01/27	$	4,223
	2,000,000		Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,083
	1,700,000		Port of Corpus Christi Authority of Nueces County		3.287		12/01/23		1,786
	1,500,000		Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,589
	1,000,000		Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		1,065
	7,500,000		Port of Morrow OR		1.582		09/01/20		7,526
	2,075,000		Port of Morrow OR		1.782		09/01/21		2,096
	1,000,000		Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		990
	1,000,000		Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		999
	1,250,000		Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,241
	1,785,000		Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,768
	1,600,000		Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,594
	700,000		Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		690
	900,000		Regents of the University of California Medical Center Pooled Revenue		2.759		05/15/29		893
	24,500,000		South Carolina Public Service Authority		2.388		12/01/23		24,819
	3,060,000		State of Georgia		2.000		07/01/20		3,134
	3,215,000		State of Georgia		2.150		07/01/21		3,326
	3,465,000		State of Georgia		1.910		02/01/23		3,469
	3,905,000		State of Georgia		2.750		07/01/25		4,028
	4,100,000		State of Georgia		2.850		07/01/26		4,217
	4,305,000		State of Georgia		2.950		07/01/27		4,419
	4,520,000		State of Georgia		3.050		07/01/28		4,639
	3,245,000		State of Georgia		3.150		07/01/29		3,298
	19,760,000		State of Illinois		4.833		02/01/17		19,941
	5,866,667		State of Illinois		4.350		06/01/18		5,997
	7,500,000		State of Illinois		2.000		06/15/19		7,591
	7,160,000		State of Illinois		5.463		02/01/20		7,713
	12,500,000		State of Illinois		1.930		06/15/20		12,513
	12,500,000		State of Illinois		2.250		06/15/21		12,645
	12,500,000		State of Illinois		3.150		06/15/26		12,799
	12,500,000		State of Illinois		3.250		06/15/27		12,699
	20,000,000		State of Michigan		1.579		11/01/20		20,047
	13,000,000		State of Michigan		1.779		11/01/21		13,021
	7,000,000		State of Michigan		1.966		11/01/22		7,027
	6,000,000		University of California		2.570		05/15/22		6,245
	17,045,000		University of California		3.931		05/15/45		17,865
	20,000,000		University of New Mexico		3.532		06/20/32		20,549
			TOTAL MUNICIPAL BONDS						379,579
U.S. TREASURY SECURITIES - 14.9%
	2,185,000		United States Treasury Bond		5.250		11/15/28		3,028
	29,175,000		United States Treasury Bond		5.250		02/15/29		40,610
	100,686,000	p	United States Treasury Bond		5.375		02/15/31		147,053
	65,602,000		United States Treasury Bond		4.500		02/15/36		92,481
	4,500,000		United States Treasury Bond		4.750		02/15/37		6,542
	12,000,000		United States Treasury Bond		3.500		02/15/39		14,895
	11,900,000		United States Treasury Bond		3.875		08/15/40		15,561

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	19,135,000		United States Treasury Bond		4.375	%	05/15/41	$	26,942
	16,434,000		United States Treasury Bond		3.750		08/15/41		21,168
	56,375,000		United States Treasury Bond		3.625		08/15/43		71,975
	35,680,000		United States Treasury Bond		3.000		05/15/45		40,808
	81,710,000		United States Treasury Bond		2.875		08/15/45		91,295
	192,115,000	p	United States Treasury Bond		2.500		05/15/46		199,484
	64,500,000		United States Treasury Bond		2.250		08/15/46		63,535
	10,000,000		United States Treasury Note		3.125		10/31/16		10,023
	2,700,000		United States Treasury Note		0.750		01/15/17		2,703
	3,000,000		United States Treasury Note		1.000		12/31/17		3,010
	200,000		United States Treasury Note		0.750		02/28/18		200
	64,345,000		United States Treasury Note		0.875		03/31/18		64,473
	120,000,000		United States Treasury Note		0.875		05/31/18		120,244
	32,200,000		United States Treasury Note		0.625		06/30/18		32,128
	37,665,000		United States Treasury Note		0.875		07/15/18		37,733
	21,900,000		United States Treasury Note		0.750		07/31/18		21,894
	12,100,000		United States Treasury Note		2.250		07/31/18		12,424
	59,000,000		United States Treasury Note		0.750		08/31/18		58,986
	9,966,900		United States Treasury Note		1.375		09/30/18		10,079
	1,365,000		United States Treasury Note		1.750		10/31/18		1,392
	10,100,000		United States Treasury Note		0.750		02/15/19		10,080
	75,775,000		United States Treasury Note		1.000		03/15/19		76,059
	1,195,000		United States Treasury Note		0.875		04/15/19		1,196
	8,000,000		United States Treasury Note		0.875		09/15/19		7,999
	124,787,000		United States Treasury Note		1.625		07/31/20		127,502
	3,000,000		United States Treasury Note		1.750		12/31/20		3,080
	750,000		United States Treasury Note		1.375		01/31/21		758
	825,000		United States Treasury Note		2.125		01/31/21		860
	19,589,300		United States Treasury Note		1.125		02/28/21		19,602
	12,720,000		United States Treasury Note		2.000		02/28/21		13,193
	48,635,000		United States Treasury Note		1.375		04/30/21		49,148
	3,240,000		United States Treasury Note		2.250		04/30/21		3,399
	1,040,000		United States Treasury Note		1.375		05/31/21		1,052
	16,465,000		United States Treasury Note		2.000		05/31/21		17,092
	1,730,000		United States Treasury Note		2.125		06/30/21		1,807
	25,473,000		United States Treasury Note		1.125		08/31/21		25,449
	11,825,000		United States Treasury Note		2.000		08/31/21		12,283
	5,050,000		United States Treasury Note		1.125		09/30/21		5,043
	133,872,000		United States Treasury Note		8.000		11/15/21		179,090
	73,000,000		United States Treasury Note		1.750		02/28/22		74,911
	1,710,000		United States Treasury Note		1.750		03/31/22		1,754
	8,000,000		United States Treasury Note		1.750		04/30/22		8,205
	4,565,000		United States Treasury Note		2.125		06/30/22		4,775
	23,000,000		United States Treasury Note		2.000		07/31/22		23,903
	106,110,000		United States Treasury Note		1.875		08/31/22		109,505
	56,465,000		United States Treasury Note		1.750		09/30/22		57,863
	500,000		United States Treasury Note		1.750		01/31/23		512
	1,875,000		United States Treasury Note		1.625		04/30/23		1,903
	510,000		United States Treasury Note		1.375		06/30/23		509
	500,000		United States Treasury Note		1.250		07/31/23		495
	52,220,000		United States Treasury Note		1.500		08/15/26		51,749
			TOTAL U.S. TREASURY SECURITIES						2,101,442
			TOTAL GOVERNMENT BONDS						6,442,149
			(Cost $6,251,182)

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
STRUCTURED ASSETS - 16.2%
ASSET BACKED - 5.8%
$	578,870	i	ACE Securities Corp Home Equity Loan Trust		1.260	%	08/25/35	$	574
			Series - 2005 HE5 (Class M2)
	2,125,000		Ally Auto Receivables Trust		1.720		04/15/21		2,147
			Series - 2016 3 (Class A4)
	12,624,564		AmeriCredit Automobile Receivables Trust		1.570		01/08/19		12,644
			Series - 2013 1 (Class C)
	5,371,191		AmeriCredit Automobile Receivables Trust		1.790		03/08/19		5,381
			Series - 2013 2 (Class C)
	18,920,000		AmeriCredit Automobile Receivables Trust		2.420		05/08/19		19,056
			Series - 2013 2 (Class D)
	6,675,000		AmeriCredit Automobile Receivables Trust		2.720		09/09/19		6,735
			Series - 2013 4 (Class C)
	15,037,000	g	AmeriCredit Automobile Receivables Trust		4.460		11/08/19		15,079
			Series - 2012 3 (Class E)
	3,500,000		AmeriCredit Automobile Receivables Trust		1.460		05/08/21		3,504
			Series - 2016 3 (Class A3)
	12,805,000		AmeriCredit Automobile Receivables Trust		3.340		08/08/21		13,176
			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)
	666,667	g	Avis Budget Rental Car Funding AESOP LLC		3.410		11/20/17		668
			Series - 2011 3A (Class A)
	1,833,333	g	Avis Budget Rental Car Funding AESOP LLC		4.740		11/20/17		1,838
			Series - 2011 3A (Class B)
	7,833,333	g	Avis Budget Rental Car Funding AESOP LLC		3.780		02/20/18		7,836
			Series - 2011 5A (Class C)
	9,270,833	g	Avis Budget Rental Car Funding AESOP LLC		4.720		02/20/18		9,321
			Series - 2011 5A (Class B)
	4,890,000	g	Avis Budget Rental Car Funding AESOP LLC		3.887		05/20/18		4,928
			Series - 2012 2A (Class B)
	2,701,000	g	Avis Budget Rental Car Funding AESOP LLC		1.920		09/20/19		2,700
			Series - 2013 1A (Class A)
	5,000,000		Cabela’s Credit Card Master Note Trust		1.780		06/15/22		5,011
			Series - 2016 1 (Class A1)
	14,831,000		Capital Auto Receivables Asset Trust		1.740		10/22/18		14,846
			Series - 2013 1 (Class C)
	6,616,000		Capital Auto Receivables Asset Trust		1.620		03/20/19		6,634
			Series - 2015 4 (Class A2)
	2,000,000		Capital Auto Receivables Asset Trust		1.460		06/22/20		1,999
			Series - 2016 2 (Class A3)
	6,250,000		Capital Auto Receivables Asset Trust		1.540		08/20/20		6,253
			Series - 2016 3 (Class A3)
	3,500,000		Capital Auto Receivables Asset Trust		1.630		01/20/21		3,497
			Series - 2016 2 (Class A4)
	5,250,000		Capital Auto Receivables Asset Trust		1.690		03/20/21		5,262
			Series - 2016 3 (Class A4)
	11,525,000		Capital Auto Receivables Asset Trust		2.190		09/20/21		11,566
			Series - 0 1 (Class D)

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,000,000	g	Capital Automotive REIT		3.660	%	10/15/44	$	8,006
			Series - 2014 1A (Class A)
	3,500,000		Carmax Auto Owner Trust		1.390		05/17/21		3,509
			Series - 2016 3 (Class A3)
	3,000,000		Carmax Auto Owner Trust		1.600		01/18/22		3,015
			Series - 2016 3 (Class A4)
	3,000,000		CarMax Auto Owner Trust		1.680		09/15/21		3,024
			Series - 2016 2 (Class A4)
	4,139,311	i,m	CCR, Inc		0.963		07/10/17		4,116
			Series - 2010 CX (Class C)
	836,712	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		755
			Series - 2004 2 (Class 1M2)
	934,343	i	CIT Group Home Equity Loan Trust		6.200		02/25/30		932
			Series - 2002 1 (Class AF6) (Step Bond)
	5,500,000		CNH Equipment Trust		1.630		08/15/21		5,541
			Series - 2016 B (Class A3)
	7,000,000		CNH Equipment Trust		1.440		12/15/21		7,005
			Series - 2016 C (Class A3)
	7,880,000	g	DB Master Finance LLC		3.262		02/20/45		7,921
			Series - 2015 1A (Class A2I)
	6,895,000	g	DB Master Finance LLC		3.980		02/20/45		7,049
			Series - 2015 1A (Class A2II)
	5,525,000	g,i	DB/UBS Mortgage Trust		5.884		11/10/46		6,278
			Series - 2011 LC1A (Class C)
	66,046,313	g	Domino’s Pizza Master Issuer LLC		5.216		01/25/42		67,920
			Series - 2012 1A (Class A2)
	16,872,500	g	Domino’s Pizza Master Issuer LLC		3.484		10/25/45		17,031
			Series - 2015 1A (Class A2I)
	2,481,250	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		2,528
			Series - 2015 1A (Class A2II)
	5,250,000		Ford Credit Auto Owner Trust		1.150		07/15/18		5,250
			Series - 2013 A (Class B)
	1,595,000		Ford Credit Auto Owner Trust		2.430		01/15/19		1,596
			Series - 2012 C (Class D)
	3,500,000	g	Ford Credit Auto Owner Trust		2.310		08/15/27		3,581
			Series - 2016 1 (Class A)
	10,000,000	g	Ford Credit Auto Owner Trust		2.030		12/15/27		10,086
			Series - 2016 2 (Class A)
	5,000,000		Ford Credit Floorplan Master Owner Trust		1.550		07/15/21		4,996
			Series - 2016 3 (Class A1)
	5,000,000		Ford Credit Floorplan Master Owner Trust		2.390		08/15/22		5,126
			Series - 2015 5 (Class A)
	5,500,000		GM Financial Automobile Leasing Trust		1.620		09/20/19		5,528
			Series - 2016 2 (Class A3)
	7,500,000		GM Financial Automobile Leasing Trust		1.610		12/20/19		7,538
			Series - 2016 3 (Class A3)
	3,500,000	g	GMF Floorplan Owner Revolving Trust		1.960		05/17/21		3,512
			Series - 2016 1 (Class A1)
	10,000,000		GS Mortgage Securities Trust 2016-GS3		2.777		10/10/49		10,286
			Series - 2016 GS3 (Class AAB)
	5,705,000	g	Hertz Vehicle Financing LLC		1.830		08/25/19		5,686
			Series - 2013 1A (Class A2)
	5,000,000	g	Hertz Vehicle Financing LLC		2.320		03/25/20		5,025
			Series - 2016 1A (Class A)

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,875,000	g	Hertz Vehicle Financing LLC		2.270	%	07/25/20	$	4,879
			Series - 2016 3A (Class A)
	1,630,906	i	Irwin Home Equity Corp		1.285		02/25/34		1,588
			Series - 2005 A (Class A3)
	12,114,027	g	JG Wentworth XXII LLC		3.820		12/15/48		12,533
			Series - 2010 3A (Class A)
	7,000,000		John Deere Owner Trust		1.250		06/15/20		7,011
			Series - 2016 B (Class A3)
	2,297,260	i	Lehman XS Trust		0.775		02/25/36		2,187
			Series - 2006 1 (Class 1A1)
	5,779,410	i	Lehman XS Trust		6.500		06/25/46		4,607
			Series - 2006 13 (Class 2A1)
	345,380		Louisiana Public Facilities Authority		5.750		02/01/19		350
			Series - 2008 ELL (Class A2)
	7,000,000	g,h,i	Navistar Financial Dealer Note Master Owner Trust II		2.146		09/27/21		7,000
			Series - 2016 1 (Class A)
	5,000,000		Nissan Auto Lease Trust		1.490		03/15/19		5,010
			Series - 2016 A (Class A3)
	2,593,000	g	OneMain Direct Auto Receivables Trust		2.040		01/15/21		2,603
			Series - 2016 1A (Class A)
	646,677	g	OneMain Financial Issuance Trust		2.430		06/18/24		647
			Series - 2014 1A (Class A)
	164,105	i	Park Place Securities, Inc Asset-Backed Pass-Through Certificates		1.470		09/25/34		164
			Series - 2004 WHQ1 (Class M1)
	17,822	i	Renaissance Home Equity Loan Trust		1.404		08/25/33		16
			Series - 2003 2 (Class A)
	67,248	i	Residential Asset Securities Corp		6.489		10/25/30		69
			Series - 2001 KS2 (Class AI6)
	1,066,082	i	Residential Funding Mortgage Securities II, Inc		5.950		08/25/34		1,107
			Series - 2005 HI1 (Class A5) (Step Bond)
	408,195	i	Residential Funding Mortgage Securities II, Inc		6.010		02/25/36		410
			Series - 2006 HI1 (Class M1) (Step Bond)
	350,000	i	Residential Funding Mortgage Securities II, Inc		6.060		02/25/36		366
			Series - 2006 HI1 (Class M2) (Step Bond)
	11,355,514		Santander Drive Auto Receivables Trust		3.500		06/15/18		11,441
			Series - 2012 4 (Class D)
	3,712,758		Santander Drive Auto Receivables Trust		1.760		01/15/19		3,719
			Series - 2013 1 (Class C)
	5,830,000		Santander Drive Auto Receivables Trust		2.270		01/15/19		5,874
			Series - 2013 2013-1 (Class D)
	23,179,666		Santander Drive Auto Receivables Trust		1.620		02/15/19		23,198
			Series - 2014 2 (Class B)
	4,410,000		Santander Drive Auto Receivables Trust		2.570		03/15/19		4,462
			Series - 2013 2 (Class D)
	928,028		Santander Drive Auto Receivables Trust		1.810		04/15/19		930
			Series - 2013 3 (Class C)
	4,625,000		Santander Drive Auto Receivables Trust		2.420		04/15/19		4,676
			Series - 2013 3 (Class D)
	79,430,809		Santander Drive Auto Receivables Trust		2.250		06/17/19		79,763
			Series - 2013 5 (Class C)
	3,755,966		Santander Drive Auto Receivables Trust		1.410		07/15/19		3,755
			Series - 2016 1 (Class A2A)

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	19,332,999	g	Santander Drive Auto Receivables Trust		3.120	%	10/15/19	$	19,499
			Series - 2013 A (Class C)
	5,325,000		Santander Drive Auto Receivables Trust		2.910		04/15/20		5,419
			Series - 2014 1 (Class D)
	4,500,000		Santander Drive Auto Receivables Trust		1.560		05/15/20		4,482
			Series - 2016 2 (Class A3)
	600,000		Santander Drive Auto Receivables Trust		1.960		05/15/20		603
			Series - 2015 5 (Class B)
	14,172,000		Santander Drive Auto Receivables Trust		2.130		08/17/20		14,247
			Series - 2014 3 (Class C)
	600,000		Santander Drive Auto Receivables Trust		2.740		12/15/21		609
			Series - 2015 5 (Class C)
	29,848	i	Securitized Asset Backed Receivables LLC		0.825		10/25/35		30
			Series - 2006 OP1 (Class A2C)
	206,079	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		205
			Series - 2013 1A (Class A)
	5,046,215	g	Sierra Receivables Funding Co LLC		2.700		10/20/30		5,064
			Series - 2013 3A (Class B)
	5,126,714	g	Sierra Receivables Funding Co LLC		2.050		06/20/31		5,130
			Series - 2014 2A (Class A)
	2,111,000	g	Sierra Receivables Funding Co LLC		2.400		06/20/31		2,111
			Series - 2014 2A (Class B)
	6,278,582	g	Sierra Receivables Funding Co LLC		2.400		03/22/32		6,308
			Series - 2015 1A (Class A)
	3,176,280	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		3,193
			Series - 2015 3A (Class A)
	862,338	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		871
			Series - 2015 3A (Class B)
	6,322,760	g	Sierra Timeshare Receivables Funding LLC		2.330		07/20/33		6,323
			Series - 2016 2A (Class A)
	12,561,517	g	SLM Student Loan Trust		3.740		02/15/29		12,909
			Series - 2011 B (Class A2)
	8,500,000	g	SoFi Professional Loan Program LLC		1.530		04/25/33		8,500
			Series - 2016 D (Class A2A)
	4,291,713	g	SolarCity LMC		4.590		04/20/44		4,174
			Series - 2014 1 (Class A)
	58,884,735	g	SpringCastle America Funding LLC		2.700		05/25/23		59,075
			Series - 2014 AA (Class A)
	34,000,000	g,h	SpringCastle America Funding LLC		3.050		04/25/29		34,255
			Series - 2016 AA (Class A)
	1,608,778	g,i	Structured Asset Securities Corp Mortgage Loan Trust		0.745		10/25/36		1,603
			Series - 2006 GEL4 (Class A2)
	13,250,000	g	Taco Bell Funding LLC		3.832		05/25/46		13,436
			Series - 2016 1A (Class A2I)
	3,500,000	g	Verizon Owner Trust		1.420		01/20/21		3,508
			Series - 2016 1A (Class A)
	1,890,000	g	Vornado DP LLC		5.280		09/13/28		2,063
			Series - 2010 VNO (Class C)
	573,912	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		582
			Series - 2006 N1 (Class N1)
	827,380	g,i	Wachovia Loan Trust		0.885		05/25/35		812
			Series - 2005 SD1 (Class A)
	34,650,000	g	Wendys Funding LLC		3.371		06/15/45		34,803
			Series - 2015 1A (Class A2I)

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,000,000		World Financial Network Credit Card Master Trust		2.030	%	04/15/25	$	3,020
			Series - 2016 A (Class A)
			TOTAL ASSET BACKED						814,694
OTHER MORTGAGE BACKED - 10.4%
	3,047,000	g,i	ACRE Commercial Mortgage Trust		3.030		08/15/31		3,027
			Series - 2014 FL2 (Class C)
	6,500,000	g,i	ACRE Commercial Mortgage Trust		3.930		08/15/31		6,333
			Series - 2014 FL2 (Class D)
	2,000,000	i	Banc of America Commercial Mortgage Trust		5.772		05/10/45		1,997
			Series - 2006 2 (Class B)
	1,059,000		Banc of America Commercial Mortgage Trust		5.390		10/10/45		1,059
			Series - 2006 6 (Class AM)
	2,500,000		Banc of America Commercial Mortgage Trust		5.480		10/10/45		2,504
			Series - 2006 6 (Class B)
	10,500,000	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		10,445
			Series - 2007 1 (Class AM)
	14,549,000	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		14,478
			Series - 2007 1 (Class AMFX)
	12,000,000		Banc of America Commercial Mortgage Trust		3.019		06/15/49		12,580
			Series - 2016 UB10 (Class ASB)
	3,500,000	g,i	Banc of America Commercial Mortgage Trust		5.821		02/10/51		3,150
			Series - 2007 4 (Class E)
	2,000,000	g,i	Banc of America Commercial Mortgage Trust		6.000		02/10/51		1,872
			Series - 2007 4 (Class D)
	18,825,000	i	Bear Stearns Commercial Mortgage Securities Trust		6.087		09/11/42		19,026
			Series - 2007 T28 (Class AJ)
	2,500,000	i	Bear Stearns Commercial Mortgage Securities Trust		5.878		06/11/50		2,511
			Series - 2007 PW17 (Class AJ)
	10,000,000		CD Mortgage Trust		2.622		08/10/49		10,257
			Series - 2016 CD1 (Class ASB)
	8,000,000	g	CGBAM Commercial Mortgage Trust		3.516		04/10/28		8,174
			Series - 2015 SMRT (Class C)
	9,000,000	g	CGBAM Commercial Mortgage Trust		3.768		04/10/28		9,180
			Series - 2015 SMRT (Class D)
	7,998,683	i	CHL Mortgage Pass-Through Trust		2.852		02/20/35		8,002
			Series - 2004 HYB9 (Class 1A1)
	3,000,000	g,h	Citigroup Commercial Mortgage Trust		2.228		09/10/31		3,000
			Series - 2016 SMPL (Class A)
	2,500,000	g,h	Citigroup Commercial Mortgage Trust		2.576		09/10/31		2,500
			Series - 2016 SMPL (Class B)
	13,903,084		Citigroup Commercial Mortgage Trust		1.506		05/10/49		13,938
			Series - 2016 C1 (Class A1)
	6,500,000		Citigroup Commercial Mortgage Trust		3.003		05/10/49		6,767
			Series - 2016 C1 (Class AAB)
	9,812,689		Citigroup Commercial Mortgage Trust		1.382		07/10/49		9,780
			Series - 2016 P4 (Class A1)
	245,464	i	Citigroup Commercial Mortgage Trust		5.713		12/10/49		246
			Series - 2007 C6 (Class ASB)
	7,095,000	i	Citigroup Commercial Mortgage Trust		5.899		12/10/49		7,207
			Series - 2007 C6 (Class AM)
	15,000,000	g,i	Citigroup Commercial Mortgage Trust		5.900		12/10/49		15,237
			Series - 2007 C6 (Class AMFX)

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	32,585,000	i	COBALT CMBS Commercial Mortgage Trust		5.771	%	05/15/46	$	33,275
			Series - 2007 C3 (Class AM)
	16,626,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		16,708
			Series - 2007 C3 (Class AJ)
	5,640,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		5,705
			Series - 2007 C2 (Class AMFX)
	765,140		COMM Mortgage Trust		1.399		02/10/48		765
			Series - 2015 LC19 (Class A1)
	5,000,000	g,i	COMM Mortgage Trust		1.208		12/10/49		4,820
			Series - 2007 C9 (Class AJFL)
	2,180,000	i	COMM Mortgage Trust		5.650		12/10/49		2,238
			Series - 2007 C9 (Class AJ)
	3,500,000	i	COMM Mortgage Trust		5.813		12/10/49		3,494
			Series - 2007 C9 (Class F)
	1,000,000	i	COMM Mortgage Trust		6.007		12/10/49		1,002
			Series - 2007 C9 (Class C)
	5,039,179		COMM Mortgage Trust		1.667		07/10/50		5,066
			Series - 2015 PC1 (Class A1)
	270,868	i	Commercial Mortgage Trust		5.238		04/10/37		271
			Series - 2005 GG5 (Class AJ)
	16,156,810	i	Commercial Mortgage Trust		5.796		12/10/49		16,244
			Series - 2007 C9 (Class B)
	28,000,000	i	Commercial Mortgage Trust		5.867		12/10/49		28,900
			Series - 2007 GG11 (Class AM)
	2,273,159	i	Connecticut Avenue Securities		2.025		02/25/25		2,276
			Series - 2015 C01 (Class 1M1)
	12,546,033	i	Connecticut Avenue Securities		2.675		09/25/28		12,725
			Series - 2016 C02 (Class 1M1)
	13,846,346	i	Connecticut Avenue Securities		1.875		01/25/29		13,904
			Series - 2016 C05 (Class 2M1)
	39,641,450	i	Connecticut Avenue Securities		1.975		01/25/29		39,882
			Series - 2016 C04 (Class 1M1)
	12,133,000	i	Credit Suisse Commercial Mortgage Trust		5.903		09/15/39		12,180
			Series - 2007 C4 (Class A1AJ)
	15,500,000	i	Credit Suisse Commercial Mortgage Trust		5.949		09/15/39		15,568
			Series - 2007 C4 (Class AJ)
	9,000,000	i	Credit Suisse Commercial Mortgage Trust		5.953		09/15/39		9,246
			Series - 2007 C4 (Class A1AM)
	11,120,000		Credit Suisse Commercial Mortgage Trust		5.343		12/15/39		11,123
			Series - 2006 C5 (Class AM)
	11,235,000	g	Credit Suisse Commercial Mortgage Trust		5.383		02/15/40		11,261
			Series - 2009 RR1 (Class A3C)
	21,335,000	i	Credit Suisse Commercial Mortgage Trust		0.760		01/15/49		21,014
			Series - 2007 C2 (Class AMFL)
	5,052,000	i	Credit Suisse Commercial Mortgage Trust		5.615		01/15/49		5,107
			Series - 2007 C2 (Class AM)
	22,500,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		22,539
			Series - 2007 C2 (Class AJ)
	11,500,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		12,674
			Series - 2006 OMA (Class D)
	14,808,828		Csail 2015-C2 Commercial Mortgage Trust		1.454		06/15/57		14,801
			Series - 2015 C2 (Class A1)
	11,000,000		DBJPM Mortgage Trust		2.756		09/10/49		11,308
			Series - 2016 C3 (Class ASB)

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	30,000,000	g	DBUBS Mortgage Trust		4.537	%	07/10/44	$	33,113
			Series - 2011 LC2A (Class A4)
	2,084,000	g,i	DBUBS Mortgage Trust		5.510		08/10/44		2,363
			Series - 2011 LC3A (Class B)
	5,000,000	g	Four Times Square Trust Commercial Mortgage Pass-Through Certificates		5.401		12/13/28		5,618
			Series - 2006 4TS (Class A)
	19,679,135	i	GE Commercial Mortgage Corp		5.606		12/10/49		19,481
			Series - 2007 C1 (Class AM)
	3,665,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,766
			Series - 2004 C3 (Class C)
	5,000,000	g	GRACE 2014-GRCE Mortgage Trust		3.520		06/10/28		5,282
			Series - 2014 GRCE (Class B)
	21,180,000	g	GRACE Mortgage Trust		3.369		06/10/28		22,551
			Series - 2014 GRCE (Class A)
	4,371,471	i	Greenwich Capital Commercial Funding Corp		6.013		07/10/38		4,367
			Series - 2006 GG7 (Class AM)
	15,943,000	g	GS Mortgage Securities Corp II		3.551		04/10/34		17,224
			Series - 2012 ALOH (Class A)
	5,910,000	g,i	GS Mortgage Securities Corp II		5.357		12/10/43		6,597
			Series - 2010 C2 (Class B)
	6,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		6,098
			Series - 2016 10HY (Class A)
	2,500,000	g,i	Hudson Yards Mortgage Trust		3.075		08/10/38		2,516
			Series - 2016 10HY (Class B)
	1,190,555	i	Impac CMB Trust		1.185		03/25/35		1,095
			Series - 2004 11 (Class 2A1)
	7,965,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		7,957
			Series - 2005 LDP2 (Class C)
	4,000,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		5.520		05/15/45		3,994
			Series - 2006 LDP8 (Class B)
	8,145,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.360		02/15/46		8,891
			Series - 2011 C3 (Class C)
	1,357,254	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.106		07/15/46		1,410
			Series - 2011 C4 (Class A3)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.577		07/15/46		7,166
			Series - 2011 C4 (Class C)
	17,862,438		JP Morgan Chase Commercial Mortgage Securities Trust		5.257		05/15/47		17,866
			Series - 2006 LDP9 (Class A1A)
	20,904,862		JP Morgan Chase Commercial Mortgage Securities Trust		1.324		08/15/49		20,847
			Series - 2016 JP2 (Class A1)
	7,000,000		JP Morgan Chase Commercial Mortgage Securities Trust		2.713		08/15/49		7,178
			Series - 2016 JP2 (Class ASB)
	3,695,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		6.192		02/15/51		3,797
			Series - 2007 LD12 (Class AM)
	2,695,214	g	JP Morgan Mortgage Trust		2.690		06/25/46		2,742
			Series - 2016 2 (Class A1)
	2,471,040	g	JP Morgan Mortgage Trust		2.869		06/25/46		2,527
			Series - 2016 2 (Class 2A1)
	118,205,946	i	JPMBB Commercial Mortgage Securities Trust		1.665		11/15/48		8,869
			Series - 2015 C32 (Class XA)
	88,354	i	LB-UBS Commercial Mortgage Trust		5.852		06/15/38		88
			Series - 2006 C4 (Class AJ)

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,000,000		LB-UBS Commercial Mortgage Trust		5.484	%	02/15/40	$	6,014
			Series - 2007 C1 (Class AJ)
	1,400,000	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		1,389
			Series - 2007 C1 (Class C)
	4,150,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		4,056
			Series - 2007 C1 (Class D)
	7,225,000	g	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		7,369
			Series - 2007 C6 (Class AMFL)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		776
			Series - 2007 C6 (Class AM)
	14,679,681	g,i	LVII Resecuritization Trust		3.324		07/25/47		14,845
			Series - 2015 A (Class A)
	2,205,000	i	Merrill Lynch Mortgage Trust		6.472		02/12/51		2,271
			Series - 0 C1 (Class AJA)
	5,880,000	g,i	Merrill Lynch Mortgage Trust		6.472		02/12/51		6,048
			Series - 2008 C1 (Class C)
	2,210,442	g,i	Merrill Lynch Mortgage Trust		6.472		02/12/51		2,277
			Series - 0 C1 (Class AJAF)
	9,300,000	g,i	ML-CFC Commercial Mortgage Trust		0.708		08/12/48		9,111
			Series - 2007 5 (Class AMFL)
	11,995,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		12,138
			Series - 2007 6 (Class AM)
	3,200,000		Morgan Stanley Bank of America Merrill Lynch Trust		2.469		02/15/46		3,295
			Series - 2013 C7 (Class AAB)
	1,200,000	g	Morgan Stanley Bank of America Merrill Lynch Trust		3.989		12/15/46		1,257
			Series - 2014 C19 (Class LNC1)
	4,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.194		10/15/47		4,706
			Series - 2014 C18 (Class A2)
	12,400,000	g	Morgan Stanley Capital I Trust		2.695		01/11/32		12,656
			Series - 2013 WLSR (Class A)
	1,719,553	g,i	Morgan Stanley Capital I Trust		6.252		08/12/41		1,717
			Series - 2006 T23 (Class B)
	10,072,629	i	Morgan Stanley Capital I Trust		5.389		11/12/41		10,045
			Series - 2006 HQ10 (Class AJ)
	853,179	i	Morgan Stanley Capital I Trust		5.793		07/12/44		853
			Series - 2006 HQ9 (Class AJ)
	500,000	i	Morgan Stanley Capital I Trust		5.832		07/12/44		500
			Series - 2006 HQ9 (Class B)
	7,383,010		Morgan Stanley Capital I Trust		5.569		12/15/44		7,566
			Series - 2007 HQ13 (Class A3)
	3,450,000	g,i	Morgan Stanley Capital I Trust		5.601		09/15/47		3,796
			Series - 2011 C1 (Class D)
	8,650,000	i	Morgan Stanley Capital I Trust		5.678		04/12/49		8,647
			Series - 2007 HQ12 (Class B)
	13,800,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		12,484
			Series - 2007 IQ15 (Class AJ)
	11,000,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		11,236
			Series - 2007 IQ15 (Class AM)
	12,121,000	g,i	Morgan Stanley Capital I Trust		6.104		06/11/49		8,788
			Series - 2007 IQ15 (Class B)
	8,750,000	i	Morgan Stanley Capital I Trust		6.080		12/12/49		9,035
			Series - 2007 IQ16 (Class AMA)
	2,330,000	i	Morgan Stanley Capital I Trust		6.115		12/12/49		2,114
			Series - 2007 IQ16 (Class AJ)

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	7,205,000	i	Morgan Stanley Capital I Trust		6.281	%	12/12/49	$	7,466
			Series - 2007 IQ16 (Class AM)
	12,000,000	i	Morgan Stanley Capital I Trust		6.297		12/12/49		10,883
			Series - 2007 IQ16 (Class AJFX)
	22,229,000	i	Morgan Stanley Capital I Trust		6.319		12/12/49		20,166
			Series - 2007 IQ16 (Class AJA)
	768,170		Morgan Stanley Capital I Trust		4.770		07/15/56		766
			Series - 0 IQ9 (Class AJ)
	5,000,000	g	RBS Commercial Funding, Inc 2013-SMV Trust		3.260		03/11/31		5,188
			Series - 2013 SMV (Class A)
	4,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.725		09/25/24		4,124
			Series - 2014 HQ2 (Class M2)
	5,551,832	i	Structured Agency Credit Risk Debt Note (STACR)		2.925		01/25/25		5,600
			Series - 2015 DN1 (Class M2)
	608,103	i	Structured Agency Credit Risk Debt Note (STACR)		1.575		03/25/25		608
			Series - 2015 HQ1 (Class M1)
	1,159,659	i	Structured Agency Credit Risk Debt Note (STACR)		1.625		05/25/25		1,162
			Series - 2015 HQ2 (Class M1)
	16,250,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.475		05/25/25		16,640
			Series - 2015 HQ2 (Class M2)
	23,588,140	i	Structured Agency Credit Risk Debt Note (STACR)		1.975		07/25/28		23,710
			Series - 2016 DNA1 (Class M1)
	6,250,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.725		10/25/28		6,352
			Series - 2016 DNA2 (Class M2)
	21,286,080	i	Structured Agency Credit Risk Debt Note (STACR)		1.625		12/25/28		21,319
			Series - 2016 DNA3 (Class M1)
	9,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		1.324		03/25/29		9,068
			Series - 2016 DNA4 (Class M1)
	2,750,000	i	Structured Agency Credit Risk Debt Note (STACR)		1.824		03/25/29		2,752
			Series - 2016 DNA4 (Class M2)
	12,500,000	g,i	Wachovia Bank Commercial Mortgage Trust		0.730		12/15/43		12,215
			Series - 2007 C30 (Class AMFL)
	35,625,000		Wachovia Bank Commercial Mortgage Trust		5.383		12/15/43		35,943
			Series - 2007 C30 (Class AM)
	5,500,000	i	Wachovia Bank Commercial Mortgage Trust		5.825		07/15/45		5,516
			Series - 2006 C27 (Class AJ)
	3,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.865		07/15/45		2,649
			Series - 2006 C27 (Class B)
	32,910,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		34,005
			Series - 2007 C34 (Class AM)
	3,390,000	i	Wachovia Bank Commercial Mortgage Trust		6.020		05/15/46		1,995
			Series - 2007 C34 (Class F)
	7,338,000	i	Wachovia Bank Commercial Mortgage Trust		6.139		05/15/46		7,354
			Series - 2007 C34 (Class AJ)
	3,328,000	i	Wachovia Bank Commercial Mortgage Trust		6.214		05/15/46		3,278
			Series - 2007 C34 (Class B)
	7,175,000	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		7,271
			Series - 2007 C31 (Class AM)
	8,657,290	i	Wachovia Bank Commercial Mortgage Trust		5.660		04/15/47		8,666
			Series - 2007 C31 (Class AJ)
	2,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		1,976
			Series - 2007 C31 (Class B)
	88,795,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		90,250
			Series - 2007 C32 (Class AMFX)

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,794,000	i	Wachovia Bank Commercial Mortgage Trust		5.750	%	06/15/49	$	2,684
			Series - 2007 C32 (Class B)
	49,550,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		48,420
			Series - 2007 C32 (Class AJ)
	33,600,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		34,292
			Series - 2007 C33 (Class AM)
	8,783,125		Wells Fargo Commercial Mortgage Trust		1.392		07/15/48		8,763
			Series - 2016 C35 (Class A1)
	10,000,000		Wells Fargo Commercial Mortgage Trust		2.788		07/15/48		10,283
			Series - 2016 C35 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		15,240
			Series - 2016 BNK1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		15,500
			Series - 2016 LC24 (Class ASB)
	8,389,000	h	Wells Fargo Commercial Mortgage Trust		2.827		11/15/49		8,622
			Series - 2016 NXS6 (Class ASB)
	7,250,000		Wells Fargo Commercial Mortgage Trust		3.185		03/15/59		7,665
			Series - 2016 C33 (Class ASB)
	6,000,000		Wells Fargo Commercial Mortgage Trust		3.749		03/15/59		6,489
			Series - 2016 C33 (Class AS)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		5,246
			Series - 2010 C1 (Class B)
	55,000,000	g,i	WFRBS Commercial Mortgage Trust		4.902		06/15/44		61,808
			Series - 2011 C4 (Class A4)
			TOTAL OTHER MORTGAGE BACKED						1,467,692
			TOTAL STRUCTURED ASSETS						2,282,386
			(Cost $2,292,280)
			TOTAL BONDS						13,766,466
			(Cost $13,376,114)
SHARES			COMPANY
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp						1,638
	1,527,061	*	Federal National Mortgage Association						5,360
			TOTAL BANKS						6,998
			TOTAL PREFERRED STOCKS						6,998
			(Cost $49,942)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 7.3%
GOVERNMENT AGENCY DEBT - 0.3%
$	5,300,000		Federal Home Loan Bank (FHLB)		0.100		10/03/16		5,300
	8,400,000		FHLB		0.375		10/05/16		8,400
	25,000,000		FHLB		0.375		10/12/16		24,999
			TOTAL GOVERNMENT AGENCY DEBT						38,699

349

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
TREASURY DEBT - 7.0%
$	50,000,000	United States Treasury Bill		0.323	%	10/06/16	$	50,000
	122,500,000	United States Treasury Bill		0.215-0.311		10/20/16		122,490
	30,000,000	United States Treasury Bill		0.220		10/27/16		29,996
	217,000,000	United States Treasury Bill		0.245-0.280		11/03/16		216,963
	59,950,000	United States Treasury Bill		0.274-0.280		11/10/16		59,937
	50,000,000	United States Treasury Bill		0.295		12/01/16		49,986
	50,000,000	United States Treasury Bill		0.308		12/15/16		49,980
	68,900,000	United States Treasury Bill		0.329-0.394		12/29/16		68,853
	97,000,000	United States Treasury Bill		0.421		01/19/17		96,920
	90,000,000	United States Treasury Bill		0.282-0.420		02/02/17		89,900
	72,300,000	United States Treasury Bill		0.305-0.410		02/09/17		72,211
	15,000,000	United States Treasury Bill		0.353		03/02/17		14,977
	73,900,000	United States Treasury Bill		0.392		03/23/17		73,751
		TOTAL TREASURY DEBT						995,964
		TOTAL SHORT-TERM INVESTMENTS						1,034,663
		(Cost $1,034,557)
		TOTAL INVESTMENTS - 105.5%						14,891,552
		(Cost $14,543,374)
		OTHER ASSETS & LIABILITIES, NET - (5.5)%						(781,400	)
		NET ASSETS - 100.0%					$	14,110,152

	Abbreviation(s):
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
COP	Columbian Peso
DKK	Danish Krone
DOP	Dominican Peso
EUR	Euro
GBP	British Pound
HUF	Hungarian Forint
IDR	Indonesian Rupiah
ILS	Israeli New Sheqel
INR	Indian Rupee
JPY	Japanese Yen
KRW	South Korean Won
MXN	Mexican Peso
MYR	Malaysian Ringgit
NOK	Norwegian Krone
NZD	New Zealand Dollar
PEN	Peruvian Nuevo Sol
PLN	Polish Zloty
REIT	Real Estate Investment Trust
RUB	Russian Ruble
SEK	Swedish Krone
SGD	Singapore Dollar
THB	Thai Baht
TRY	Turkish Lira
ZAR	South African Rand

350

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

*	Non-income producing
^	Amount represents less than $1,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/16, the aggregate value of these securities was $2,046,947,000 or 14.5% 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.
m	Indicates a security that has been deemed illiquid.
o	Payment in Kind Bond
p	All or a portion of these securities have been segregated by the custodian to cover collateral requirements on open forward foreign currency contracts.
q	In default
w	All or a portion of these securities have been segregated to cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

351

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2016

				VALUE
PRINCIPAL			ISSUER	(000)
GOVERNMENT BONDS - 99.5%
AGENCY SECURITIES - 0.7%
$	18,000,000		Montefiore Medical Center 2.895%, 04/20/32	$	18,081
	3,500,000		Private Export Funding Corp (PEFCO) 2.300%, 09/15/20		3,634
	3,000,000		3.250%, 06/15/25		3,295
	4,375,000		Tunisia Government AID Bonds 1.416%, 08/05/21		4,394
	3,500,000		Ukraine Government AID Bonds 1.847%, 05/29/20		3,566
	15,000,000		1.471%, 09/29/21		15,091
			TOTAL AGENCY SECURITIES		48,061
MORTGAGE BACKED - 0.2%
	13,774,605		Government National Mortgage Association (GNMA) 3.650%, 02/15/32		15,216
			TOTAL MORTGAGE BACKED		15,216
U.S. TREASURY SECURITIES - 98.6%
		k	United States Treasury Inflation Indexed Bonds
	148,256,094		0.125%, 04/15/17		148,669
	94,867,589		2.625%, 07/15/17		97,812
	149,394,938		1.625%, 01/15/18		154,013
	409,256,410		0.125%, 04/15/18		413,755
	151,333,668		1.375%, 07/15/18		157,755
	148,520,575		2.125%, 01/15/19		158,205
	306,063,880		0.125%, 04/15/19		311,314
	138,635,760		1.875%, 07/15/19		148,902
	171,720,470		1.375%, 01/15/20		182,391
	448,577,955		0.125%, 04/15/20		457,459
	294,228,871		1.250%, 07/15/20		314,519
	331,079,141		1.125%, 01/15/21		352,474
	188,358,555		0.125%, 04/15/21		192,343
	347,882,724		0.625%, 07/15/21		365,435
	346,611,274		0.125%, 01/15/22		353,899
	405,003,240		0.125%, 07/15/22		414,903
	274,209,060		0.125%, 01/15/23		278,744
	85,832,790		0.375%, 07/15/23		89,022
	78,645,013		0.625%, 01/15/24		82,585
	96,286,300		0.125%, 07/15/24		97,798
	74,173,110		0.250%, 01/15/25		75,639
	258,231,410		2.375%, 01/15/25		308,094
	78,141,910		0.375%, 07/15/25		80,812
	110,398,470		0.625%, 01/15/26		116,263
	216,224,412		2.000%, 01/15/26		254,294
	71,284,000		0.125%, 07/15/26		72,167
	162,536,994		2.375%, 01/15/27		199,603

352

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

			VALUE
PRINCIPAL		ISSUER	(000)
$	192,300,750	1.750%, 01/15/28	$	225,475
	119,072,399	3.625%, 04/15/28		164,693
	182,596,239	2.500%, 01/15/29		232,239
	153,844,404	3.875%, 04/15/29		222,082
		United States Treasury Note
	32,000,000	1.125%, 06/30/21		31,965
	21,150,000	1.125%, 08/31/21		21,130
	5,750,000	1.500%, 08/15/26		5,698
		TOTAL U.S. TREASURY SECURITIES		6,782,151
		TOTAL GOVERNMENT BONDS		6,845,428
		(Cost $6,427,047)
SHORT-TERM INVESTMENTS - 0.2%
GOVERNMENT AGENCY DEBT - 0.2%
		Federal Home Loan Bank (FHLB)
	4,050,000	0.100%, 10/03/16		4,050
	10,700,000	0.220%, 10/17/16		10,699
				14,749
		TOTAL SHORT-TERM INVESTMENTS		14,749
		(Cost $14,749)
		TOTAL INVESTMENTS - 99.7%		6,860,177
		(Cost $6,441,796)
		OTHER ASSETS AND LIABILITIES, NET - 0.3%		17,627
		NET ASSETS - 100.0%	$	6,877,804

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

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2016

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BANK LOAN OBLIGATIONS - 0.4%
CAPITAL GOODS - 0.0%
$	2,854,231	i	Manitowoc Foodservice, Inc		5.750	%	03/03/23	$	2,886
			TOTAL CAPITAL GOODS						2,886
ENERGY - 0.1%
	781,801	i	Granite Acquisition, Inc		5.000		12/19/21		772
	17,457,256	i	Granite Acquisition, Inc		5.000		12/19/21		17,239
			TOTAL ENERGY						18,011
MEDIA - 0.0%
	3,159,125	i	Charter Communications Operating LLC		3.500		01/24/23		3,178
			TOTAL MEDIA						3,178
RETAILING - 0.0%
	2,562,125	i	KAR Auction Services, Inc		4.375		03/09/23		2,594
			TOTAL RETAILING						2,594
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	10,000,000	i	MTS Systems Corp		5.000		07/05/23		10,069
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						10,069
UTILITIES - 0.2%
	9,505,057	i	ExGen Renewables I LLC		5.250		02/06/21		9,588
	15,181,505	i	Terra-Gen Finance Co LLC		5.250		12/09/21		12,917
			TOTAL UTILITIES						22,505
			TOTAL BANK LOAN OBLIGATIONS						59,243
			(Cost $61,081)
BONDS - 38.9%
CORPORATE BONDS - 11.2%
AUTOMOBILES & COMPONENTS - 0.2%
	1,955,000	g	Adient Global Holdings Ltd		4.875		08/15/26		1,955
	6,675,000	g	BMW US Capital LLC		2.250		09/15/23		6,652
	7,550,000		Delphi Automotive plc		3.150		11/19/20		7,818
	3,250,000		Johnson Controls, Inc		5.000		03/30/20		3,569
	4,675,000		Magna International, Inc		3.625		06/15/24		4,917
			TOTAL AUTOMOBILES & COMPONENTS						24,911
BANKS - 2.6%
	54,172,000		Bank of America Corp		1.950		05/12/18		54,470
	5,325,000		Bank of Montreal		1.500		07/18/19		5,313

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	18,500,000		Bank of Nova Scotia		2.125	%	09/11/19	$	18,843
	12,000,000		Bank of Nova Scotia		1.875		04/26/21		12,083
	12,000,000	g	Bank of Nova Scotia		1.875		09/20/21		12,069
	1,350,000		Citizens Financial Group, Inc		2.375		07/28/21		1,355
	7,025,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,365
	2,710,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		4.375		08/04/25		2,861
	4,950,000		Cooperatieve Rabobank UA		3.750		07/21/26		4,961
	9,400,000		Discover Bank		3.450		07/27/26		9,461
	5,000,000	g	DNB Boligkreditt AS.		2.000		05/28/20		5,058
	10,000,000		First Niagara Financial Group, Inc		6.750		03/19/20		11,562
	30,000,000	g	ING Bank NV		2.000		11/26/18		30,199
	11,500,000	g	Intesa Sanpaolo S.p.A		5.017		06/26/24		10,500
	10,000,000	g	Intesa Sanpaolo S.p.A		5.710		01/15/26		9,456
	6,300,000		KeyBank NA		2.350		03/08/19		6,418
	9,913,000		Manufacturers & Traders Trust Co		6.625		12/04/17		10,468
	14,000,000		Manufacturers & Traders Trust Co		1.450		03/07/18		13,997
	4,644,000	i	Manufacturers & Traders Trust Co		1.739		12/28/20		4,618
	6,076,000	i	Manufacturers & Traders Trust Co		5.629		12/01/21		5,968
	1,605,000		Manufacturers & Traders Trust Co		2.900		02/06/25		1,647
	18,775,000		Mitsubishi UFJ Financial Group, Inc		2.527		09/13/23		18,856
	3,314,000	e	Northern Trust Corp		3.375		08/23/21		3,557
	18,257,000		People’s United Financial, Inc		3.650		12/06/22		18,793
	8,245,000		PNC Bank NA		2.950		01/30/23		8,492
	8,450,000		Royal Bank of Canada		1.875		02/05/20		8,540
	12,000,000		Royal Bank of Canada		2.100		10/14/20		12,200
	14,500,000	e,g	Skandinaviska Enskilda Banken AB		1.375		05/29/18		14,503
	12,500,000		SVB Financial Group		3.500		01/29/25		12,635
	5,000,000	e	Toronto-Dominion Bank		1.450		08/13/19		4,989
	5,000,000		Toronto-Dominion Bank		1.800		07/13/21		4,981
			TOTAL BANKS						346,218
CAPITAL GOODS - 0.5%
	2,500,000		3M Co		6.375		02/15/28		3,427
	1,975,000		Anixter, Inc		5.125		10/01/21		2,066
	4,575,000		Anixter, Inc		5.500		03/01/23		4,792
	4,600,000		Ingersoll-Rand Global Holding Co Ltd		4.250		06/15/23		5,085
	10,875,000	g	LafargeHolcim Finance US LLC		4.750		09/22/46		11,237
	5,155,000		Pall Corp		5.000		06/15/20		5,782
	5,625,000		Parker-Hannifin Corp		4.200		11/21/34		6,360
	6,980,000		Pentair Finance S.A.		2.650		12/01/19		7,016
	6,400,000		Rockwell Automation, Inc		2.050		03/01/20		6,480
	3,300,000		Rockwell Collins, Inc		3.100		11/15/21		3,470
	6,125,000		Rockwell Collins, Inc		3.700		12/15/23		6,681
			TOTAL CAPITAL GOODS						62,396
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	5,300,000		Air Lease Corp		2.125		01/15/18		5,326
	9,075,000		Air Lease Corp		3.875		04/01/21		9,597
	6,525,000		Air Lease Corp		4.250		09/15/24		6,859
	2,730,000		Waste Management, Inc		4.600		03/01/21		3,032
	3,475,000		Waste Management, Inc		3.900		03/01/35		3,713
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						28,527

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
CONSUMER SERVICES - 0.5%
$	4,000,000		American National Red Cross		5.567	%	11/15/17	$	4,166
	10,000,000		Henry J Kaiser Family Foundation		3.356		12/01/25		10,391
	1,250,000		McDonald’s Corp		5.000		02/01/19		1,353
	19,000,000		Metropolitan Museum of Art		3.400		07/01/45		19,737
	7,550,000		Nature Conservancy		6.300		07/01/19		8,338
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations		4.305		07/01/45		19,434
	5,145,000		Salvation Army		5.637		09/01/26		5,816
	3,450,000		Trustees of Dartmouth College		3.474		06/01/46		3,680
			TOTAL CONSUMER SERVICES						72,915
DIVERSIFIED FINANCIALS - 0.7%
	750,000	g,i	Armor Re Ltd		4.724		12/15/16		752
	2,675,000		Bank of New York Mellon Corp		5.450		05/15/19		2,939
	2,169,000		Discover Financial Services		3.850		11/21/22		2,250
	9,000,000	g	EDP Finance BV		4.125		01/15/20		9,325
	9,500,000	g	EDP Finance BV		5.250		01/14/21		10,274
	11,700,000		Ford Motor Credit Co LLC		3.200		01/15/21		12,012
	2,300,000	e	Legg Mason, Inc		3.950		07/15/24		2,354
	34,500,000		Morgan Stanley		2.200		12/07/18		34,860
	9,750,000	g	RCI Banque S.A.		3.500		04/03/18		10,024
	5,675,000		Unilever Capital Corp		2.000		07/28/26		5,567
			TOTAL DIVERSIFIED FINANCIALS						90,357
ENERGY - 0.7%
	4,175,000		Apache Corp		3.250		04/15/22		4,285
	3,000,000	e	EOG Resources, Inc		4.100		02/01/21		3,233
	8,450,000		EOG Resources, Inc		3.900		04/01/35		8,442
	6,225,000		EOG Resources, Inc		5.100		01/15/36		7,083
	1,000,000	e	Marathon Oil Corp		2.700		06/01/20		980
	7,450,000		Marathon Petroleum Corp		4.750		09/15/44		6,685
	3,025,000		National Oilwell Varco, Inc		1.350		12/01/17		3,012
	10,000,000		National Oilwell Varco, Inc		3.950		12/01/42		7,895
	2,500,000		Noble Energy, Inc		8.250		03/01/19		2,860
	3,290,000		Noble Energy, Inc		5.050		11/15/44		3,256
	2,150,000	g	Northern Natural Gas Co		4.100		09/15/42		2,284
	9,000,000		Phillips 66		4.650		11/15/34		9,758
	5,300,000	e	Southwestern Energy Co		5.800		01/23/20		5,287
	5,000,000		Spectra Energy Capital LLC		5.650		03/01/20		5,401
	9,500,000		Statoil ASA		3.150		01/23/22		10,073
	4,500,000		Statoil ASA		2.650		01/15/24		4,608
	5,932,000		Statoil ASA		3.950		05/15/43		6,132
	5,000,000	g	Texas Eastern Transmission LP		4.125		12/01/20		5,236
			TOTAL ENERGY						96,510
FOOD & STAPLES RETAILING - 0.1%
	1,451,000		Safeway, Inc		3.400		12/01/16		1,448
	7,475,000		Starbucks Corp		2.450		06/15/26		7,597
			TOTAL FOOD & STAPLES RETAILING						9,045
FOOD, BEVERAGE & TOBACCO - 0.1%
	4,678,000		Kellogg Co		4.000		12/15/20		5,118
	3,075,000		Mead Johnson Nutrition Co		3.000		11/15/20		3,203

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	428,000		PepsiCo, Inc		7.900	%	11/01/18	$	485
	5,100,000		PepsiCo, Inc		1.500		02/22/19		5,136
	3,600,000		PepsiCo, Inc		3.600		08/13/42		3,734
			TOTAL FOOD, BEVERAGE & TOBACCO						17,676
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	3,250,000		Laboratory Corp of America Holdings		2.625		02/01/20		3,311
	9,000,000		Laboratory Corp of America Holdings		3.200		02/01/22		9,374
	7,700,000		New York and Presbyterian Hospital		4.063		08/01/56		8,325
	5,375,000		Owens & Minor, Inc		3.875		09/15/21		5,554
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						26,564
INSURANCE - 0.3%
	3,100,000		Progressive Corp		3.750		08/23/21		3,374
	15,000,000	i	Prudential Financial, Inc		5.200		03/15/44		15,469
	7,450,000	i	Prudential Financial, Inc		5.375		05/15/45		7,767
	10,550,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		10,761
	8,687,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		9,266
			TOTAL INSURANCE						46,637
MATERIALS - 0.4%
	2,275,000		Ball Corp		5.000		03/15/22		2,460
	8,930,000		Ball Corp		4.000		11/15/23		8,997
	5,750,000		Domtar Corp		4.400		04/01/22		6,079
	2,300,000		Eastman Chemical Co		5.500		11/15/19		2,545
	7,500,000		International Paper Co		5.000		09/15/35		8,254
	5,000,000		International Paper Co		6.000		11/15/41		5,925
	4,600,000		International Paper Co		4.800		06/15/44		4,867
	5,000,000		MeadWestvaco Corp		7.375		09/01/19		5,735
	2,500,000	g	Sealed Air Corp		5.500		09/15/25		2,681
			TOTAL MATERIALS						47,543
MEDIA - 0.2%
	3,125,000	g	CCO Safari II LLC		3.579		07/23/20		3,266
	10,285,000	g	Charter Communications Operating LLC		4.908		07/23/25		11,354
	7,225,000		Time Warner Cable, Inc		8.250		04/01/19		8,319
	5,500,000		Time Warner Cable, Inc		4.500		09/15/42		5,261
			TOTAL MEDIA						28,200
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.2%
	2,550,000		Biogen, Inc		2.900		09/15/20		2,648
	7,000,000		Biogen, Inc		3.625		09/15/22		7,498
	5,000,000		Bristol-Myers Squibb Co		3.250		08/01/42		5,020
	3,300,000		Zoetis, Inc		3.450		11/13/20		3,450
	10,000,000		Zoetis, Inc		3.250		02/01/23		10,308
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						28,924
REAL ESTATE - 0.5%
	2,325,000	h	AvalonBay Communities, Inc		2.900		10/15/26		2,316
	3,050,000	h	AvalonBay Communities, Inc		3.900		10/15/46		3,015
	6,525,000		Brixmor Operating Partnership LP		3.850		02/01/25		6,639
	6,275,000	e	Brixmor Operating Partnership LP		4.125		06/15/26		6,507
	10,000,000		Equity One, Inc		3.750		11/15/22		10,377
	3,500,000		Federal Realty Investment Trust		2.750		06/01/23		3,570
	3,400,000		Healthcare Realty Trust, Inc		5.750		01/15/21		3,862

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	7,000,000		Kimco Realty Corp		6.875	%	10/01/19	$	8,025
	340,000		Kimco Realty Corp		2.800		10/01/26		337
	4,825,000		Mid-America Apartments LP		4.000		11/15/25		5,129
	15,854,000		Regency Centers LP		3.750		06/15/24		16,730
	2,400,000		Ventas Realty LP		3.250		08/15/22		2,501
			TOTAL REAL ESTATE						69,008
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	18,110,000		Apple, Inc		2.850		02/23/23		19,070
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						19,070
TELECOMMUNICATION SERVICES - 0.2%
	3,400,000		CenturyLink, Inc		6.750		12/01/23		3,536
	3,050,000		Crown Castle International Corp		2.250		09/01/21		3,048
	5,800,000		Verizon Communications, Inc		1.375		08/15/19		5,771
	11,750,000		Verizon Communications, Inc		2.625		08/15/26		11,529
			TOTAL TELECOMMUNICATION SERVICES						23,884
TRANSPORTATION - 0.8%
	2,337,378		Delta Air Lines		4.250		07/30/23		2,414
	5,677,796		Delta Air Lines		3.625		07/30/27		6,047
	7,250,000		GATX Corp		5.200		03/15/44		7,832
	7,000,000		Kansas City Southern		4.300		05/15/43		7,234
	27,925,000		Kansas City Southern		4.950		08/15/45		31,779
	5,275,000	e,g	Mexico City Airport Trust		4.250		10/31/26		5,288
	10,325,000	e,g	Mexico City Airport Trust		5.500		10/31/46		10,144
	6,894,000		Norfolk Southern Corp		2.903		02/15/23		7,143
	475,000		Norfolk Southern Corp		5.590		05/17/25		572
	8,900,000	e	Spirit Airlines, Inc		4.100		04/01/28		9,078
	4,050,000		Union Pacific Corp		3.375		02/01/35		4,140
	5,196,109		Union Pacific Railroad Co		3.227		05/14/26		5,404
	9,656,634		Union Pacific Railroad Co		2.695		05/12/27		9,557
	1,360,000	i	United Parcel Service of America, Inc (Step Bond)		8.375		04/01/30		2,020
			TOTAL TRANSPORTATION						108,652
UTILITIES - 2.7%
	2,000,000		Atmos Energy Corp		8.500		03/15/19		2,327
	7,550,000	e,g	Colorado Interstate Gas Co LLC		4.150		08/15/26		7,490
	1,200,000		Connecticut Light & Power Co		5.500		02/01/19		1,310
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,558
	3,000,000		Connecticut Light & Power Co		4.150		06/01/45		3,365
	2,425,000		Consolidated Edison, Inc		2.000		05/15/21		2,449
	8,501,794	g	Continental Wind LLC		6.000		02/28/33		9,376
	22,500,000	g	Electricite de France S.A.		3.625		10/13/25		23,672
	6,150,000	g	Fortis, Inc		2.100		10/04/21		6,124
	10,750,000	g	Fortis, Inc		3.055		10/04/26		10,719
	11,250,000		Georgia Power Co		3.250		04/01/26		11,963
	432,341	g	Great River Energy		5.829		07/01/17		444
	3,800,000	g	Greenko Investment Co		4.875		08/16/23		3,706
	2,745,000	g	International Transmission Co		4.625		08/15/43		3,100
	6,575,000		Interstate Power & Light Co		3.250		12/01/24		6,945
	5,525,000		Interstate Power & Light Co		3.400		08/15/25		5,909
	14,500,000	g	Massachusetts Electric Co		4.004		08/15/46		15,119
	9,250,000	g	Narragansett Electric Co		4.170		12/10/42		9,730

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	9,732,000	e,g	Niagara Mohawk Power Corp		4.278	%	10/01/34	$	10,656
	9,750,000	g	Niagara Mohawk Power Corp		4.119		11/28/42		10,212
	1,500,000		Northwest Natural Gas Co		5.620		11/21/23		1,762
	10,000,000		NorthWestern Corp		4.176		11/15/44		10,873
	630,000		Public Service Co of Colorado		4.750		08/15/41		760
	5,500,000		San Diego Gas & Electric Co		3.000		08/15/21		5,833
	10,508,952		San Diego Gas & Electric Co		1.914		02/01/22		10,497
	620,000		San Diego Gas & Electric Co		6.000		06/01/39		856
	8,875,000	e	Sierra Pacific Power Co		3.375		08/15/23		9,516
	26,862,152	g	Solar Star Funding LLC		3.950		06/30/35		26,222
	7,944,677	g	Solar Star Funding LLC		5.375		06/30/35		8,708
	2,000,000		Southern California Edison Co		2.400		02/01/22		2,061
	5,975,000		Southern Power Co		1.850		12/01/17		6,013
	40,068,000		Southern Power Co		4.150		12/01/25		43,173
	16,000,000	g,i	TerraForm Power Operating LLC (Step Bond)		9.375		02/01/23		16,480
	20,256,555	g	Topaz Solar Farms LLC		4.875		09/30/39		21,435
	13,913,054	e,g	Topaz Solar Farms LLC		5.750		09/30/39		15,695
	5,000,000		Washington Gas Light Co		5.440		08/11/25		5,732
	16,975,000		Westar Energy, Inc		2.550		07/01/26		16,990
	16,525,000		WGL Holdings, Inc		2.250		11/01/19		16,682
			TOTAL UTILITIES						366,462
			TOTAL CORPORATE BONDS						1,513,499
			(Cost $1,457,010)
GOVERNMENT BONDS -  24.0%
AGENCY SECURITIES - 4.3%
	7,792,699		Ethiopian Leasing 2012 LLC		2.566		08/14/26		8,072
	3,744,706		Export Lease Ten Co LLC		1.650		05/07/25		3,717
	5,500,000		Federal Home Loan Bank (FHLB)		5.000		11/17/17		5,763
	5,000,000		Federal Home Loan Mortgage Corp (FHLMC)		1.000		09/29/17		5,015
	6,400,000		Federal National Mortgage Association (FNMA)		1.125		04/27/17		6,420
	7,000,000		FNMA		1.625		01/21/20		7,125
	15,500,000		FNMA		2.625		09/06/24		16,579
	2,290,826	g	Genesis Solar 2011 Pass Through Trust		3.875		02/15/38		2,567
	1,096,000	j	Government Trust Certificate		0.000		04/01/19		1,061
	5,000,000	j	Government Trust Certificate		0.000		04/01/21		4,675
	7,085,000	g	Hospital for Special Surgery		3.500		01/01/23		7,456
	7,875,000	i	India Government AID Bond		0.857		02/01/27		7,539
	5,175,000		Lutheran Medical Center		1.982		02/20/30		5,177
	7,875,000		Mexican Aircraft Finance V LLC		2.329		01/14/27		8,042
	3,485,000	g	Montefiore Medical Center		3.896		05/20/27		3,630
	25,811,000		NCUA Guaranteed Notes		2.350		06/12/17		26,115
	20,900,000		NCUA Guaranteed Notes		3.000		06/12/19		21,977
	7,000,000		NCUA Guaranteed Notes		3.450		06/12/21		7,611
	17,895,000		New York Society for the Relief of the Ruptured & Crippled		2.881		12/20/31		18,347
	3,000,000	j	Overseas Private Investment Corp (OPIC)		0.000		04/30/17		3,252
	775,000	j	OPIC		0.000		11/11/17		780
	10,750,000	j	OPIC		0.000		11/17/17		10,861
	16,000,000	j	OPIC		0.000		02/11/18		16,470
	5,700,000	j	OPIC		0.000		11/15/19		6,068
	4,396,059		OPIC		2.290		09/15/26		4,526
	2,380,132		OPIC		2.040		12/15/26		2,410

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	9,750,000		OPIC		2.740	%	09/15/29	$	9,938
	12,000,000		OPIC		3.220		09/15/29		12,665
	13,500,000		OPIC		3.280		09/15/29		14,308
	2,459,556		OPIC		2.610		04/15/30		2,485
	4,237,000		OPIC		2.930		05/15/30		4,390
	7,002,200		OPIC		3.040		05/15/30		7,356
	8,088,277		OPIC		3.540		06/15/30		8,807
	20,843,282		OPIC		3.370		12/15/30		22,680
	22,307,071		OPIC		3.820		12/20/32		24,859
	14,391,658		OPIC		3.938		12/20/32		16,076
	12,327,155		OPIC		3.160		06/01/33		12,953
	11,834,069		OPIC		3.430		06/01/33		12,764
	1,250,000		OPIC		2.810		07/31/33		1,279
	2,000,000		OPIC		2.940		07/31/33		2,067
	8,000,000		Private Export Funding Corp (PEFCO)		2.250		12/15/17		8,129
	5,000,000		PEFCO		4.375		03/15/19		5,392
	5,854,000		PEFCO		1.450		08/15/19		5,901
	13,150,000	e	PEFCO		2.250		03/15/20		13,565
	8,000,000	e	PEFCO		2.300		09/15/20		8,306
	17,500,000		PEFCO		4.300		12/15/21		19,951
	8,250,000		PEFCO		2.050		11/15/22		8,450
	4,000,000		PEFCO		3.550		01/15/24		4,441
	8,000,000		PEFCO		3.250		06/15/25		8,786
	2,534,941		Tayarra Ltd		3.628		02/15/22		2,669
	2,439,979		Tricahue Leasing LLC		3.503		11/19/21		2,558
	7,590,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		7,995
	4,894,000		US Department of Housing and Urban Development (HUD)		2.910		08/01/17		4,990
	8,000,000		HUD		4.560		08/01/17		8,275
	10,750,000		HUD		1.770		08/01/18		10,927
	4,799,000		HUD		5.380		08/01/18		4,824
	750,000		HUD		2.050		08/01/19		770
	9,500,000		HUD		4.870		08/01/19		10,475
	13,967,000		HUD		4.960		08/01/20		15,560
	13,500,000		HUD		5.050		08/01/21		14,476
	3,217,000		HUD		2.910		08/01/23		3,407
	2,500,000		VRG Linhas Aereas S.A.		0.983		03/13/18		2,489
	6,390,000		Montefiore Medical Center		2.152		10/20/26		6,434
	10,000,000		Montefiore Medical Center		2.895		04/20/32		10,045
	5,075,000		Tunisia Government AID Bonds		1.416		08/05/21		5,097
	15,300,000		Ukraine Government AID Bonds		1.847		05/29/20		15,589
	19,500,000		Ukraine Government AID Bonds		1.471		09/29/21		19,618
			TOTAL AGENCY SECURITIES						593,001
FOREIGN GOVERNMENT BONDS - 5.0%
	24,350,000		African Development Bank		1.375		12/17/18		24,527
	13,550,000		African Development Bank		2.375		09/23/21		14,131
	17,500,000		Asian Development Bank		2.125		03/19/25		17,994
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		6,146
	9,000,000		Canada Government International Bond		1.125		03/19/18		9,035
	6,863,480	g	Carpintero Finance Ltd		2.004		09/18/24		6,922
	6,500,000		Council Of Europe Development Bank		1.000		02/04/19		6,482
	25,000,000		European Bank for Reconstruction & Development		1.625		04/10/18		25,210
	19,500,000		European Bank for Reconstruction & Development		0.875		07/22/19		19,414
	2,000,000		European Investment Bank		2.000		03/15/21		2,054

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	36,350,000		European Investment Bank		2.125	%	04/13/26	$	37,165
	2,000,000		European Investment Bank		4.875		02/15/36		2,772
	16,275,000		Export Development Canada		1.250		12/10/18		16,355
	9,000,000		Export Development Canada		1.625		12/03/19		9,138
	18,175,000		Export-Import Bank of Korea		1.750		02/27/18		18,260
	15,000,000	e,g	Finnvera Oyj		2.375		06/04/25		15,345
	6,082,000		Hydro Quebec		8.400		01/15/22		7,932
	45,000,000		Inter-American Development Bank		1.185		07/09/18		45,229
	3,000,000		International Bank for Reconstruction & Development		2.000		10/20/16		3,003
	19,075,000		International Finance Corp		1.250		11/27/18		19,165
	41,750,000		International Finance Corp		2.125		04/07/26		42,853
	2,850,000		Italy Government International Bond		5.375		06/12/17		2,936
	5,000,000		Japan Bank for International Cooperation		1.875		04/20/21		5,050
	9,000,000	g	Japan Finance Organization for Municipalities		2.125		04/13/21		9,089
	5,000,000		KFW		1.000		01/26/18		5,007
	23,000,000		KFW		1.750		10/15/19		23,397
	11,500,000		KFW		1.500		04/20/20		11,608
	38,200,000		KFW		1.875		11/30/20		39,062
	10,000,000		KFW		2.625		01/25/22		10,585
	12,500,000	g	Kommunalbanken AS.		2.125		02/11/25		12,709
	19,400,000	g	Kommuninvest I Sverige AB		1.500		04/23/19		19,563
	12,350,000	g	Nacional Financiera SNC		3.375		11/05/20		12,816
	46,500,000	g	Nederlandse Waterschapsbank NV		2.375		03/24/26		48,184
	10,000,000		North American Development Bank		2.300		10/10/18		10,217
	2,000,000		North American Development Bank		4.375		02/11/20		2,182
	36,075,000		North American Development Bank		2.400		10/26/22		36,623
	15,250,000		Province of Manitoba Canada		1.750		05/30/19		15,469
	15,000,000		Province of Manitoba Canada		2.100		09/06/22		15,383
	12,700,000		Province of Manitoba Canada		3.050		05/14/24		13,717
	10,000,000		Province of New Brunswick Canada		2.750		06/15/18		10,271
	9,500,000		Province of Ontario Canada		1.200		02/14/18		9,521
	5,000,000		Province of Ontario Canada		4.400		04/14/20		5,507
	10,000,000		Province of Quebec Canada		3.500		07/29/20		10,761
	5,000,000		Province of Quebec Canada		7.500		09/15/29		7,530
			TOTAL FOREIGN GOVERNMENT BONDS						686,319
MORTGAGE BACKED - 8.2%
	9,929,495		Federal Home Loan Mortgage Corp (FHLMC)		3.000		03/15/41		10,294
	6,832,559		FHLMC		3.500		09/15/41		7,085
	2,635,466		FHLMC		3.000		12/15/41		2,742
	12,514,960		FHLMC		3.000		09/15/42		12,930
	7,622,344	i	FHLMC		0.874		07/15/45		7,602
	21,679,543		FHLMC		3.500		07/15/46		3,214
	1,040		Federal Home Loan Mortgage Corp Gold (FGLMC)		6.500		12/01/16		1
	32,150		FGLMC		6.000		12/01/17		33
	45,904		FGLMC		7.000		10/01/20		48
	5,361		FGLMC		7.000		05/01/23		6
	7,713,183		FGLMC		3.500		03/01/27		8,153
	20,762		FGLMC		8.000		01/01/31		24
	413,000		FGLMC		4.500		07/01/33		454
	710,720		FGLMC		5.500		09/01/33		810
	679,778		FGLMC		5.500		09/01/33		776
	1,076,103		FGLMC		5.500		12/01/33		1,226
	2,726,593		FGLMC		7.000		12/01/33		3,294

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	965,487		FGLMC		7.000	%	05/01/35	$	1,166
	120,320		FGLMC		5.000		02/01/36		135
	1,987		FGLMC		6.500		05/01/36		2
	614,157		FGLMC		5.000		07/01/39		680
	3,020,951	w	FGLMC		4.500		11/01/40		3,392
	3,315,563	w	FGLMC		4.500		12/01/40		3,724
	902,728		FGLMC		4.500		10/01/44		1,007
	1,042,306		FGLMC		4.500		11/01/44		1,163
	1,237,998		FGLMC		4.500		11/01/44		1,381
	805,585		FGLMC		4.500		12/01/44		899
	445,053		FGLMC		4.500		12/01/44		491
	3,635,328		FGLMC		3.500		04/01/45		3,894
	32,943,685		FGLMC		3.500		10/01/45		35,178
	19,881,854		FGLMC		4.000		12/01/45		21,665
	2,899,648		FGLMC		4.000		05/01/46		3,168
	3,913,887		FGLMC		3.500		06/01/46		4,180
	2,987		Federal National Mortgage Association (FNMA)		8.000		03/01/23		3
	25,532		FNMA		8.000		07/01/24		30
	8,000,000	h	FNMA		2.500		10/25/31		8,287
	10,000,000	h	FNMA		3.000		10/25/31		10,499
	23,000,000	h	FNMA		2.500		11/25/31		23,781
	13,000,000	h	FNMA		3.000		11/25/31		13,630
	14,000,000	h	FNMA		2.500		12/25/31		14,447
	14,000,000	h	FNMA		3.000		12/25/31		14,656
	351,271		FNMA		6.500		07/01/32		413
	35,645		FNMA		4.500		03/25/33		36
	2,903,463		FNMA		5.000		06/01/33		3,231
	6,486,627		FNMA		5.000		10/01/33		7,236
	328,854		FNMA		5.000		11/01/33		369
	81,509		FNMA		7.000		01/01/34		88
	1,000,169		FNMA		5.000		03/01/34		1,124
	1,698,806		FNMA		5.500		03/01/34		1,932
	5,403,143		FNMA		5.000		05/01/35		6,031
	3,433,255		FNMA		5.000		10/01/35		3,821
	2,657,051		FNMA		5.000		02/01/36		2,957
	1,327,062		FNMA		5.500		08/01/37		1,509
	627,888		FNMA		6.000		09/01/37		735
	691,037		FNMA		6.000		09/01/37		813
	179,588		FNMA		6.500		09/01/37		207
	771,020		FNMA		5.500		01/01/38		877
	18,020		FNMA		6.500		02/01/38		21
	2,480,778		FNMA		5.500		04/01/38		2,794
	3,358,272		FNMA		5.500		11/01/38		3,945
	4,587,025		FNMA		5.500		12/01/38		5,291
	34,285		FNMA		4.500		04/01/39		38
	918,343		FNMA		4.500		05/01/39		1,017
	356,484		FNMA		4.000		07/01/39		387
	1,556,656		FNMA		5.500		08/01/39		1,779
	607,072		FNMA		4.500		10/01/39		665
	51,246		FNMA		4.500		02/01/40		58
	675,814		FNMA		4.500		06/01/40		742
	543,400		FNMA		5.000		08/01/40		604
	2,701,700		FNMA		5.000		09/01/40		3,004
	1,471,834		FNMA		4.500		11/01/40		1,615

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	145,826		FNMA		4.500	%	11/01/40	$	163
	239,245		FNMA		4.500		01/01/41		269
	6,918,141		FNMA		4.500		01/01/41		7,716
	205,674		FNMA		4.500		02/01/41		231
	4,302,106		FNMA		5.000		05/01/41		4,778
	236,380		FNMA		4.500		06/01/41		266
	257,343		FNMA		4.500		06/01/41		288
	839,845		FNMA		5.000		06/01/41		936
	2,477,065		FNMA		5.000		07/01/41		2,762
	1,824,226		FNMA		4.500		09/01/41		2,022
	2,453,025		FNMA		4.500		11/01/41		2,694
	423,982		FNMA		4.500		12/01/41		474
	13,095,999		FNMA		5.500		12/01/41		15,215
	810,262		FNMA		4.500		01/01/42		903
	260,619		FNMA		4.500		01/01/42		291
	2,071,898		FNMA		3.500		02/01/42		2,213
	7,369,601		FNMA		4.500		02/01/42		8,103
	10,127,677		FNMA		3.000		03/25/42		10,499
	2,418,481		FNMA		4.500		04/01/42		2,656
	266,902		FNMA		4.500		04/01/42		298
	10,142,855		FNMA		4.500		06/01/42		11,158
	295,370		FNMA		4.500		06/01/42		330
	5,049,494		FNMA		3.000		06/25/42		5,240
	11,989,608		FNMA		3.500		07/01/42		12,810
	240,270		FNMA		4.500		07/01/42		270
	5,719,103	i	FNMA		1.025		08/25/42		5,729
	185,830		FNMA		3.000		10/01/42		194
	10,430,793		FNMA		3.000		10/01/42		10,873
	5,332,198	i	FNMA		0.925		11/25/42		5,319
	6,164,476		FNMA		3.500		11/25/42		996
	7,677,966	w	FNMA		3.000		01/01/43		8,002
	9,705,201	w	FNMA		3.000		02/01/43		10,115
	5,671,923		FNMA		3.000		02/25/43		5,908
	11,683		FNMA		3.000		04/01/43		12
	5,617,660		FNMA		3.000		08/25/43		5,865
	4,938,696		FNMA		4.000		04/01/44		5,381
	3,181,681		FNMA		4.000		06/01/44		3,467
	2,277,617		FNMA		4.000		06/01/44		2,481
	1,295,703		FNMA		4.500		06/01/44		1,450
	12,041,655		FNMA		4.500		06/01/44		13,487
	2,339,183		FNMA		4.000		07/01/44		2,548
	869,512		FNMA		4.000		07/01/44		947
	4,134,611		FNMA		4.000		08/01/44		4,504
	1,127,517		FNMA		4.000		08/01/44		1,228
	7,574,429		FNMA		4.000		08/01/44		8,251
	2,674,515		FNMA		4.000		08/01/44		2,911
	2,782,338		FNMA		4.500		08/01/44		3,117
	693,240		FNMA		4.000		09/01/44		755
	773,345		FNMA		4.000		09/01/44		842
	4,028,333		FNMA		4.000		10/01/44		4,388
	6,552,983		FNMA		4.500		10/01/44		7,341
	12,701,641		FNMA		4.500		11/01/44		14,230
	5,307,193		FNMA		4.000		12/01/44		5,781
	2,743,542		FNMA		4.000		12/01/44		2,968

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,822,173		FNMA		4.500	%	12/01/44	$	3,162
	3,939,786		FNMA		4.000		01/01/45		4,311
	547,277		FNMA		3.500		03/01/45		585
	343,663		FNMA		3.500		03/01/45		367
	788,893		FNMA		4.500		03/01/45		884
	759,746		FNMA		4.500		04/01/45		852
	6,406,007		FNMA		3.500		05/01/45		6,882
	876,070		FNMA		4.000		05/01/45		959
	1,937,531		FNMA		4.000		06/01/45		2,120
	8,724,047		FNMA		4.000		07/01/45		9,540
	859,708		FNMA		4.000		08/01/45		941
	5,473,185		FNMA		4.000		08/01/45		5,883
	4,849,237		FNMA		3.500		09/01/45		5,186
	3,785,515		FNMA		4.000		11/01/45		4,180
	4,899,794		FNMA		4.000		12/01/45		5,339
	970,375		FNMA		4.000		12/01/45		1,071
	719,740		FNMA		3.500		01/01/46		770
	13,009,896		FNMA		4.000		01/01/46		14,179
	8,781,460		FNMA		3.500		02/01/46		9,382
	1,967,447		FNMA		4.000		02/01/46		2,145
	766,361		FNMA		3.500		03/01/46		820
	1,633,617		FNMA		3.500		04/01/46		1,747
	36,912,582		FNMA		3.500		06/01/46		38,962
	25,597,864		FNMA		3.500		07/01/46		27,082
	17,321,810	h	FNMA		3.500		08/01/46		18,284
	2,065,379		FNMA		3.500		10/01/46		2,210
	3,236,504		FNMA		3.500		10/01/46		3,458
	5,000,000	h	FNMA		3.000		10/25/46		5,198
	41,000,000	h	FNMA		3.500		10/25/46		43,268
	2,258,346		FNMA		3.500		10/25/46		424
	21,000,000	h	FNMA		4.000		10/25/46		22,554
	1,861,967		FNMA		3.500		11/01/46		1,974
	27,000,000	h	FNMA		3.000		11/25/46		28,007
	51,000,000	h	FNMA		4.000		11/25/46		54,711
	4,000,000	h	FNMA		4.500		11/25/46		4,376
	35,000,000	h	FNMA		3.000		12/25/46		36,232
	13,829,308		FNMA		3.500		07/01/55		14,597
	965		Government National Mortgage Association (GNMA)		9.000		12/15/17		1
	2,977,743		GNMA		2.300		10/15/19		2,978
	5,508		GNMA		8.000		06/15/22		6
	6,985		GNMA		6.500		08/15/23		8
	18,345		GNMA		6.500		08/15/23		21
	6,323,894		GNMA		2.580		08/15/25		6,433
	85,565		GNMA		6.500		05/20/31		103
	8,582,569		GNMA		2.640		01/15/33		8,767
	12,026,287		GNMA		2.690		06/15/33		12,201
	189,171		GNMA		5.500		07/15/33		217
	9,615,216		GNMA		3.700		10/15/33		10,724
	103,538		GNMA		6.000		10/20/36		120
	113,227		GNMA		6.000		01/20/37		133
	345,570		GNMA		5.500		02/15/37		391
	624,102		GNMA		6.000		02/20/37		725
	273,581		GNMA		5.000		04/15/38		307
	191,969		GNMA		6.000		08/20/38		220
	421,299		GNMA		6.500		11/20/38		494
	26,346		GNMA		4.500		02/20/39		29

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,445,628		GNMA		4.500	%	09/20/39	$	4,925
	8,636,306		GNMA		3.700		08/15/40		9,341
	46,556		GNMA		4.500		08/20/41		51
	138,198		GNMA		4.500		09/20/41		153
	16,382,478		GNMA		3.500		10/20/42		2,832
	31,325		GNMA		4.500		01/20/44		35
	33,906		GNMA		4.500		02/20/44		37
	440,710		GNMA		4.500		05/20/44		486
	56,024		GNMA		4.500		05/20/44		62
	440,081		GNMA		4.500		08/20/44		485
	456,511		GNMA		4.500		09/20/44		503
	147,862		GNMA		4.500		10/20/44		163
	150,778		GNMA		4.500		11/20/44		166
	279,100		GNMA		4.500		12/20/44		308
	413,657		GNMA		4.500		02/20/45		455
	443,933		GNMA		4.500		08/20/45		490
	550,536		GNMA		4.500		08/20/45		607
	456,580		GNMA		4.500		12/20/45		504
	38,806,403		GNMA		3.500		05/20/46		41,274
	20,329,184		GNMA		4.000		08/20/46		21,858
	24,000,000	h	GNMA		3.500		10/20/46		25,493
	43,000,000	h	GNMA		3.000		11/20/46		44,961
	25,000,000	h	GNMA		3.000		12/20/46		26,089
			TOTAL MORTGAGE BACKED						1,118,962
MUNICIPAL BONDS - 4.0%
	4,500,000	g	Basin Electric Power Coop		6.127		06/01/41		5,388
	3,790,000		Bay Area Water Supply & Conservation Agency		2.535		10/01/21		3,916
	2,635,000		Bay Area Water Supply & Conservation Agency		3.015		10/01/24		2,753
	1,170,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		1,227
	7,465,000		California Earthquake Authority		2.805		07/01/19		7,626
	13,000,000		California Housing Finance Agency		2.966		08/01/22		13,521
	6,165,000	g	California Pollution Control Financing Authority		5.000		07/01/27		6,361
	8,020,000	g	California Pollution Control Financing Authority		5.000		07/01/37		8,251
	2,500,000	g	California Pollution Control Financing Authority		5.000		11/21/45		2,570
	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		12,613
	1,250,000		City & County of Honolulu, HI		6.114		07/01/29		1,375
	8,850,000		City of Austin TX Water & Wastewater System Revenue		1.933		05/15/19		8,980
	2,750,000		City of Austin TX Water & Wastewater System Revenue		2.133		11/15/19		2,797
	6,500,000		City of Chicago IL		7.750		01/01/42		6,990
	7,280,000		City of Cincinnati OH Water System Revenue		2.568		12/01/21		7,662
	635,000		City of Eugene, OR		6.320		08/01/22		731
	12,500,000		City of Houston TX Utility System Revenue		2.563		05/15/20		13,042
	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		939
	3,010,000	h	City of Norfolk VA		3.000		10/01/35		2,983
	3,665,000	h	City of Norfolk VA		3.050		10/01/36		3,665
	1,000,000		Commonwealth Financing Authority		2.675		06/01/21		1,012
	1,150,000		Commonwealth Financing Authority		2.875		06/01/22		1,158
	2,310,000		Commonwealth Financing Authority		3.075		06/01/23		2,318

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	9,050,000		Commonwealth of Massachusetts		3.277	%	06/01/46	$	9,466
	385,000		County of Mercer, NJ		5.380		02/01/17		391
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,520
	1,860,000		County of Miami-Dade FL Aviation Revenue		3.856		10/01/41		1,877
	23,500,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		27,121
	2,980,000		Fiscal Year 2005 Securitization Corp		4.760		08/15/19		3,154
	9,000,000		Florida State Board of Administration Finance Corp		2.163		07/01/19		9,169
	15,630,000	j	Garden State Preservation Trust		0.000		11/01/22		13,901
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,112
	1,250,000		Grant County Public Utility District No 2		4.164		01/01/35		1,318
	4,135,000		Greene County OH		2.720		12/01/21		4,223
	4,365,000		Greene County OH		3.120		12/01/23		4,449
	4,615,000		Greene County OH		3.270		12/01/24		4,694
	4,755,000		Greene County OH		3.420		12/01/25		4,833
	1,600,000		Guadalupe Valley Electric Coop, Inc		5.671		10/01/32		1,832
	975,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		1,012
	5,125,000		Imperial Irrigation District Electric System Revenue		4.500		11/01/40		5,716
	2,000,000		Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,182
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		568
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,587
	3,725,000		Maryland Community Development Administration Housing Revenue		3.797		03/01/39		3,763
	1,290,000		Massachusetts Housing Finance Agency		4.782		12/01/20		1,347
	2,575,000		Metropolitan Council		1.200		09/01/17		2,582
	3,500,000		Metropolitan Council		1.750		09/01/20		3,556
	5,000,000		Metropolitan Water District of Southern California		6.250		07/01/39		5,584
	750,000		Metropolitan Water Reclamation District of Greater Chicago		2.229		12/01/16		751
	8,000,000		Michigan Finance Authority		5.000		07/01/22		9,442
	8,945,000		Michigan Finance Authority		5.000		07/01/22		10,558
	500,000		Michigan Finance Authority		5.000		07/01/22		581
	2,500,000		Michigan Finance Authority		5.000		07/01/30		2,914
	2,000,000		Michigan Finance Authority		5.000		07/01/31		2,324
	7,665,000		Michigan Finance Authority		3.610		11/01/32		7,544
	1,590,000		New York State Energy Research & Development Authority		2.372		07/01/19		1,633
	1,285,000		New York State Energy Research & Development Authority		2.772		07/01/20		1,337
	1,590,000		New York State Energy Research & Development Authority		3.206		07/01/22		1,706
	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		1,265
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,325
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,298
	2,120,000		New York State Environmental Facilities Corp		3.520		07/15/27		2,288
	500,000		New York State Environmental Facilities Corp		3.684		12/15/29		527
	1,915,000		New York State Urban Development Corp		6.500		12/15/18		2,032
	1,250,000	g	Niagara Area Development Corp		4.000		11/01/24		1,269
	4,750,000		Northern California Power Agency		4.320		07/01/24		5,267
	2,450,000		Ohio State Water Development Authority		4.879		12/01/34		2,926
	700,000		Oklahoma Water Resources Board		3.071		04/01/22		750
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon		2.787		01/01/18		1,014
	1,000,000		Pend Oreille County Public Utility District No  Box Canyon		3.037		01/01/19		1,023
	1,070,000		Pend Oreille County Public Utility District No  Box Canyon		3.621		01/01/21		1,131

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,000,000		Pend Oreille County Public Utility District No Box Canyon		2.417	%	01/01/17	$	1,002
	5,000,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/30		5,234
	3,000,000		Pittsburgh Water & Sewer Authority		6.610		09/01/24		3,598
	1,000,000		South Dakota Conservancy District		1.620		08/01/18		1,009
	3,330,000		South Dakota Conservancy District		1.648		08/01/18		3,359
	2,920,000		South Dakota Conservancy District		1.898		08/01/19		2,969
	38,830,000		State of California		3.750		10/01/37		41,483
	10,050,000		State of California		4.988		04/01/39		10,899
	4,084,667		State of Illinois		4.350		06/01/18		4,175
	9,000,000		State of Illinois		5.520		04/01/38		8,847
	16,225,000		State of Louisiana		1.260		08/01/18		16,278
	1,500,000		State of Louisiana		1.769		08/01/20		1,511
	4,505,000		State of Michigan		3.375		12/01/20		4,857
	4,405,000		State of Michigan		3.590		12/01/26		4,678
	2,500,000		State of Ohio		5.412		09/01/28		3,132
	5,000,000		State of Texas		6.072		10/01/29		5,623
	2,025,000		State of Texas		3.576		08/01/34		2,060
	3,370,000		State of Texas		3.726		08/01/43		3,464
	3,000		State of Wisconsin		5.700		05/01/26		4
	11,480,000		Suffolk County Water Authority		3.500		06/01/39		12,062
	4,000,000		Suffolk County Water Authority		4.000		06/01/39		4,481
	2,280,000		Tampa Bay Water		2.612		10/01/25		2,363
	3,225,000		Tampa Bay Water		2.782		10/01/26		3,341
	3,000,000		Tampa Bay Water		2.952		10/01/27		3,080
	1,255,000		Texas Water Development Board		4.248		10/15/35		1,307
	4,170,000		Texas Water Development Board		4.648		04/15/50		4,335
	5,000,000		Tuolumne Wind Project Authority		6.918		01/01/34		6,452
	3,035,000		University of California		3.809		05/15/28		3,328
	11,400,000		University of California		4.009		05/15/30		12,808
	1,000,000		University of Cincinnati		3.250		06/01/29		1,053
	1,560,000		University of Cincinnati		3.650		06/01/34		1,661
	1,615,000		University of Cincinnati		3.700		06/01/35		1,719
	18,000,000		University of New Mexico		3.532		06/20/32		18,494
	17,500,000		University of Virginia		3.570		04/01/45		18,855
	2,500,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/42		2,658
	1,000,000		Washington County Clean Water Services		5.078		10/01/24		1,207
	695,000	h	Water Works Board of the City of Birmingham		1.509		01/01/19		693
	2,470,000	h	Water Works Board of the City of Birmingham		1.788		01/01/20		2,460
	3,750,000	h	Water Works Board of the City of Birmingham		1.988		01/01/21		3,740
	3,100,000	h	Water Works Board of the City of Birmingham		2.192		01/01/22		3,100
	600,000		West Virginia Water Development Authority		5.000		11/01/21		705
	1,345,000		West Virginia Water Development Authority		5.000		11/01/22		1,619
	1,000,000		West Virginia Water Development Authority		5.000		11/01/23		1,229
			TOTAL MUNICIPAL BONDS						545,340
U.S. TREASURY SECURITIES - 2.5%
	6,000,000		United States Treasury Bond		3.125		02/15/43		7,011
	1,000,000		United States Treasury Bond		3.375		05/15/44		1,224
	76,230,000		United States Treasury Bond		3.000		11/15/45		87,253
	13,210,000		United States Treasury Bond		2.500		05/15/46		13,717
	2,200,000		United States Treasury Note		0.500		11/30/16		2,201
	4,890,000		United States Treasury Note		0.500		02/28/17		4,893

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,325,000		United States Treasury Note		0.750	%	02/28/18	$	10,328
	14,600,000		United States Treasury Note		0.875		03/31/18		14,629
	1,650,000		United States Treasury Note		0.625		06/30/18		1,646
	1,030,000		United States Treasury Note		1.625		04/30/19		1,050
	16,065,000		United States Treasury Note		0.875		09/15/19		16,063
	33,615,000		United States Treasury Note		1.375		05/31/21		33,983
	30,975,000		United States Treasury Note		1.125		08/31/21		30,946
	4,150,000		United States Treasury Note		2.000		07/31/22		4,313
	4,500,000		United States Treasury Note		1.750		09/30/22		4,612
	12,234,500		United States Treasury Note		1.625		11/15/22		12,441
	13,130,000		United States Treasury Note		1.750		01/31/23		13,442
	5,200,000		United States Treasury Note		1.500		03/31/23		5,239
	70,090,000		United States Treasury Note		1.500		08/15/26		69,457
			TOTAL U.S. TREASURY SECURITIES						334,448
			TOTAL GOVERNMENT BONDS						3,278,070
			(Cost $3,183,297)
STRUCTURED ASSETS - 3.7%
ASSET BACKED - 1.6%
	4,873,080	g	Alterna Funding I LLC		1.639		02/15/21		4,751
			Series - 2014 1A (Class NOTE)
	270,011	i	Asset Backed Securities Corp Home Equity Loan Trust		0.635		07/25/35		270
			Series - 2005 HE7 (Class M2)
	3,333,333	g	Avis Budget Rental Car Funding AESOP LLC		3.780		02/20/18		3,334
			Series - 2011 5A (Class C)
	3,333,333	g	Avis Budget Rental Car Funding AESOP LLC		4.720		02/20/18		3,351
			Series - 2011 5A (Class B)
	925,000	i	Basic Asset Backed Securities Trust		0.835		04/25/36		851
			Series - 2006 1 (Class A3)
	4,000,000	g	Capital Automotive REIT		3.660		10/15/44		4,003
			Series - 2014 1A (Class A)
	4,001,302	i	Chase Funding Loan Acquisition Trust		1.380		06/25/34		3,494
			Series - 2004 OPT1 (Class M1)
	5,910,000	g	DB Master Finance LLC		3.262		02/20/45		5,941
			Series - 2015 1A (Class A2I)
	1,715,000	g,i	DB/UBS Mortgage Trust		5.884		11/10/46		1,949
			Series - 2011 LC1A (Class C)
	7,618,813	g	Domino’s Pizza Master Issuer LLC		5.216		01/25/42		7,835
			Series - 2012 1A (Class A2)
	1,985,000	g	Domino’s Pizza Master Issuer LLC		3.484		10/25/45		2,004
			Series - 2015 1A (Class A2I)
	893,250	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		910
			Series - 2015 1A (Class A2II)
	16,738,440	g	HERO Funding Trust		3.840		09/21/40		16,638
			Series - 2015 1A (Class A)
	3,332,859	g	HERO Funding Trust		3.990		09/21/40		3,319
			Series - 2014 2A (Class A)
	7,218,881	g	HERO Funding Trust		3.750		09/20/41		7,334
			Series - 2016 2A (Class A)
	6,928,550	g	HERO Funding Trust		4.050		09/20/41		7,136
			Series - 2016 1A (Class A)
	2,500,000	g	HERO Funding Trust		3.080		09/20/42		2,500
			Series - 2016 3A (Class A1)

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	500,000	g	Hertz Vehicle Financing LLC		6.440	%	02/25/19	$	518
			Series - 2010 1A (Class B3)
	1,106,036	i	Lehman XS Trust		0.775		02/25/36		1,053
			Series - 2006 1 (Class 1A1)
	456,376	i	Park Place Securities, Inc Asset-Backed Pass-Through Certificates		1.305		01/25/36		454
			Series - 2005 WCH1 (Class M2)
	123,813	i	Residential Asset Mortgage Products, Inc		5.470		09/25/33		127
			Series - 2003 RZ5 (Class A7) (Step Bond)
	326,556	i	Residential Funding Mortgage Securities II, Inc		6.010		02/25/36		328
			Series - 2006 HI1 (Class M1) (Step Bond)
	200,000	i	Residential Funding Mortgage Securities II, Inc		6.060		02/25/36		209
			Series - 2006 HI1 (Class M2) (Step Bond)
	1,682,786		Santander Drive Auto Receivables Trust		1.760		01/15/19		1,686
			Series - 2013 1 (Class C)
	800,000		Santander Drive Auto Receivables Trust		1.960		05/15/20		804
			Series - 2015 5 (Class B)
	800,000		Santander Drive Auto Receivables Trust		2.740		12/15/21		812
			Series - 2015 5 (Class C)
	11,219	i	Securitized Asset Backed Receivables LLC		0.825		10/25/35		11
			Series - 2006 OP1 (Class A2C)
	942,974	g	Sierra Receivables Funding Co LLC		3.420		03/20/29		947
			Series - 2012 2A (Class B)
	741,885	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		739
			Series - 2013 1A (Class A)
	1,218,772	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		1,225
			Series - 2015 3A (Class A)
	862,338	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		871
			Series - 2015 3A (Class B)
	6,162,460	g	SolarCity LMC		4.590		04/20/44		5,994
			Series - 2014 1 (Class A)
	28,074,901	g	SolarCity LMC		4.020		07/20/44		26,428
			Series - 2014 2 (Class A)
	7,938,145	g	SolarCity LMC		4.800		09/20/48		7,748
			Series - 2016 A (Class A)
	6,564,852	g	SpringCastle America Funding LLC		2.700		05/25/23		6,586
			Series - 2014 AA (Class A)
	5,000,000	g,h	SpringCastle America Funding LLC		3.050		04/25/29		5,038
			Series - 2016 AA (Class A)
	4,655,984	i	Structured Asset Securities Corp Mortgage Loan Trust		2.023		04/25/35		4,386
			Series - 2005 7XS (Class 2A1A)
	22,500,000		Toyota Auto Receivables Owner Trust		1.270		05/15/19		22,552
			Series - 2015 B (Class A3)
	22,500,000		Toyota Auto Receivables Owner Trust		1.300		04/15/20		22,533
			Series - 2016 B (Class A3)
	22,500,000		Toyota Auto Receivables Owner Trust		1.740		09/15/20		22,720
			Series - 2015 B (Class A4)
	419,935	g,m	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		426
			Series - 2006 N1 (Class N1)
	429,012	g,i	Wachovia Loan Trust		0.885		05/25/35		421
			Series - 2005 SD1 (Class A)
	3,960,000	g	Wendys Funding LLC		3.371		06/15/45		3,977
			Series - 2015 1A (Class A2I)
			TOTAL ASSET BACKED						214,213

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
OTHER MORTGAGE BACKED - 2.1%
$	1,800,000		Banc of America Commercial Mortgage Trust		5.480	%	10/10/45	$	1,803
			Series - 2006 6 (Class B)
	3,050,000	g	Banc of America Commercial Mortgage Trust		5.416		01/15/49		3,034
			Series - 2007 1 (Class AM)
	5,416,386	i	Banc of America Commercial Mortgage Trust		5.482		01/15/49		5,390
			Series - 2007 1 (Class AMFX)
	760,000	i	Banc of America Commercial Mortgage Trust		5.809		02/10/51		769
			Series - 2007 4 (Class AJ)
	10,250,000	g	BBCMS Trust		3.593		09/15/32		10,905
			Series - 2015 MSQ (Class A)
	6,000,000	g	BBCMS Trust		3.894		09/15/32		6,419
			Series - 2015 MSQ (Class B)
	2,590,000	i	Bear Stearns Commercial Mortgage Securities Trust		6.087		09/11/42		2,618
			Series - 2007 T28 (Class AJ)
	500,000	i	Bear Stearns Commercial Mortgage Securities Trust		5.878		06/11/50		502
			Series - 2007 PW17 (Class AJ)
	2,575,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		2,630
			Series - 2007 C3 (Class AM)
	3,925,000	i	COBALT CMBS Commercial Mortgage Trust		5.771		05/15/46		3,944
			Series - 2007 C3 (Class AJ)
	2,750,000	i	COBALT CMBS Commercial Mortgage Trust		5.526		04/15/47		2,782
			Series - 2007 C2 (Class AMFX)
	20,761,000	g	COMM Mortgage Trust		3.544		03/10/31		21,292
			Series - 2013 WWP (Class C)
	3,500,000	g,i	COMM Mortgage Trust		6.007		12/10/49		3,294
			Series - 2007 C9 (Class G)
	122,340	i	Commercial Mortgage Trust		5.238		04/10/37		122
			Series - 2005 GG5 (Class AJ)
	4,000,000	i	Commercial Mortgage Trust		5.796		12/10/49		4,022
			Series - 2007 C9 (Class B)
	6,317,426	i	Commercial Mortgage Trust		5.867		12/10/49		6,520
			Series - 2007 GG11 (Class AM)
	1,846,941	i	Connecticut Avenue Securities		2.025		02/25/25		1,849
			Series - 2015 C01 (Class 1M1)
	5,000,000	i	Connecticut Avenue Securities		4.775		01/25/29		5,141
			Series - 2016 C04 (Class 1M2)
	2,250,000	i	Connecticut Avenue Securities		4.975		01/25/29		2,324
			Series - 2016 C05 (Class 2M2)
	2,775,000	i	Credit Suisse Commercial Mortgage Trust		5.903		09/15/39		2,786
			Series - 2007 C4 (Class A1AJ)
	6,000,000	i	Credit Suisse Commercial Mortgage Trust		5.949		09/15/39		6,026
			Series - 2007 C4 (Class AJ)
	1,500,000		Credit Suisse Commercial Mortgage Trust		5.343		12/15/39		1,500
			Series - 2006 C5 (Class AM)
	3,500,000	g	Credit Suisse Commercial Mortgage Trust		5.383		02/15/40		3,508
			Series - 2009 RR1 (Class A3C)
	8,450,000	i	Credit Suisse Commercial Mortgage Trust		5.625		01/15/49		8,465
			Series - 2007 C2 (Class AJ)
	2,000,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		2,204
			Series - 2006 OMA (Class D)
	500,000	i	GE Commercial Mortgage Corp		5.606		12/10/49		495
			Series - 2007 C1 (Class AM)
	3,660,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,761
			Series - 2004 C3 (Class C)

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,000,000	g	GRACE Mortgage Trust		3.369	%	06/10/28	$	10,647
			Series - 2014 GRCE (Class A)
	2,535,000	g,i	GS Mortgage Securities Corp II		5.357		12/10/43		2,830
			Series - 2010 C2 (Class B)
	5,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		5,082
			Series - 2016 10HY (Class A)
	5,000,000	g,i	Hudson Yards Mortgage Trust		3.075		08/10/38		5,033
			Series - 2016 10HY (Class B)
	4,500,000	g,i	Hudson Yards Mortgage Trust		3.075		08/10/38		4,416
			Series - 2016 10HY (Class C)
	573,089	i	Impac CMB Trust		1.185		03/25/35		527
			Series - 2004 11 (Class 2A1)
	3,780,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.911		07/15/42		3,776
			Series - 2005 LDP2 (Class C)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.577		07/15/46		3,358
			Series - 2011 C4 (Class C)
	3,572,488		JP Morgan Chase Commercial Mortgage Securities Trust		5.257		05/15/47		3,573
			Series - 2006 LDP9 (Class A1A)
	2,639,215	i	JP Morgan Chase Commercial Mortgage Securities Trust		6.192		02/15/51		2,712
			Series - 2007 LD12 (Class AM)
	1,500,000	i	LB-UBS Commercial Mortgage Trust		5.737		03/15/39		1,498
			Series - 2006 C3 (Class C)
	2,500,000		LB-UBS Commercial Mortgage Trust		5.484		02/15/40		2,506
			Series - 2007 C1 (Class AJ)
	700,000	i	LB-UBS Commercial Mortgage Trust		5.533		02/15/40		694
			Series - 2007 C1 (Class C)
	3,390,000	i	LB-UBS Commercial Mortgage Trust		5.563		02/15/40		3,314
			Series - 2007 C1 (Class D)
	750,000	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		776
			Series - 2007 C6 (Class AM)
	6,771,321	g,i	LVII Resecuritization Trust		3.324		07/25/47		6,848
			Series - 2015 A (Class A)
	645,000	i	Merrill Lynch Mortgage Trust		6.472		02/12/51		664
			Series - 0 C1 (Class AJA)
	2,750,000	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		2,783
			Series - 2007 6 (Class AM)
	12,000,000	g	Morgan Stanley Capital I Trust		3.350		07/13/29		12,735
			Series - 2014 CPT (Class A)
	649,103	g,i	Morgan Stanley Capital I Trust		6.252		08/12/41		648
			Series - 2006 T23 (Class B)
	2,200,000	i	Morgan Stanley Capital I Trust		5.389		11/12/41		2,194
			Series - 2006 HQ10 (Class AJ)
	600,463	i	Morgan Stanley Capital I Trust		5.834		10/15/42		602
			Series - 2006 IQ11 (Class AJ)
	6,000,000	i	Morgan Stanley Capital I Trust		5.861		04/12/49		5,963
			Series - 2007 HQ12 (Class C)
	2,400,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		2,171
			Series - 2007 IQ15 (Class AJ)
	9,500,000	i	Morgan Stanley Capital I Trust		5.907		06/11/49		9,704
			Series - 2007 IQ15 (Class AM)
	4,000,000	i	Morgan Stanley Capital I Trust		6.297		12/12/49		3,628
			Series - 2007 IQ16 (Class AJFX)

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	17,385,000	g	OBP Depositor LLC Trust		4.646	%	07/15/45	$	18,947
			Series - 2010 OBP (Class A)
	5,849,251	i	Structured Agency Credit Risk Debt Note (STACR)		2.925		01/25/25		5,900
			Series - 2015 DN1 (Class M2)
	10,000,000	i	Structured Agency Credit Risk Debt Note (STACR)		2.725		03/25/25		10,132
			Series - 2015 HQ1 (Class M2)
	750,000	i	Structured Agency Credit Risk Debt Note (STACR)		4.325		03/25/25		793
			Series - 2015 HQ1 (Class M3)
	2,874,109	i	Structured Agency Credit Risk Debt Note (STACR)		1.775		10/25/28		2,882
			Series - 2016 DNA2 (Class M1)
	1,750,000	i	Structured Agency Credit Risk Debt Note (STACR)		1.874		03/25/29		1,752
			Series - 2016 HQA3 (Class M2)
	5,000,000	g,i	Wachovia Bank Commercial Mortgage Trust		0.730		12/15/43		4,886
			Series - 2007 C30 (Class AMFL)
	4,585,000		Wachovia Bank Commercial Mortgage Trust		5.383		12/15/43		4,626
			Series - 2007 C30 (Class AM)
	890,000	i	Wachovia Bank Commercial Mortgage Trust		5.818		05/15/46		920
			Series - 2007 C34 (Class AM)
	1,700,000	i	Wachovia Bank Commercial Mortgage Trust		6.139		05/15/46		1,704
			Series - 2007 C34 (Class AJ)
	3,000,000	i	Wachovia Bank Commercial Mortgage Trust		6.214		05/15/46		2,955
			Series - 2007 C34 (Class B)
	1,975,000	i	Wachovia Bank Commercial Mortgage Trust		5.591		04/15/47		2,001
			Series - 2007 C31 (Class AM)
	1,500,000	i	Wachovia Bank Commercial Mortgage Trust		5.660		04/15/47		1,502
			Series - 2007 C31 (Class AJ)
	1,000,000	i	Wachovia Bank Commercial Mortgage Trust		5.700		04/15/47		988
			Series - 2007 C31 (Class B)
	700,000	i	Wachovia Bank Commercial Mortgage Trust		5.839		04/15/47		672
			Series - 2007 C31 (Class C)
	4,000,000	g	Wachovia Bank Commercial Mortgage Trust		5.703		06/15/49		4,066
			Series - 2007 C32 (Class AMFX)
	875,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		840
			Series - 2007 C32 (Class B)
	12,830,000	i	Wachovia Bank Commercial Mortgage Trust		5.750		06/15/49		12,537
			Series - 2007 C32 (Class AJ)
	510,000	i	Wachovia Bank Commercial Mortgage Trust		5.953		02/15/51		521
			Series - 2007 C33 (Class AM)
			TOTAL OTHER MORTGAGE BACKED						291,411
			TOTAL STRUCTURED ASSETS						505,624
			(Cost $507,897)
			TOTAL BONDS						5,297,193
			(Cost $5,148,204)
SHARES			COMPANY
COMMON STOCKS - 59.8%
AUTOMOBILES & COMPONENTS - 1.5%
	52,700		Aisin Seiki Co Ltd						2,414
	177,255		Bayerische Motoren Werke AG.						14,924
	50,103		Bayerische Motoren Werke AG. (Preference)						3,698
	7,649		BorgWarner, Inc						269

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	15,763		Delphi Automotive plc	$	1,124
	301,682		Denso Corp		12,038
	2,826,653		Ford Motor Co		34,118
	293,803		Fuji Heavy Industries Ltd		11,023
	237,240		Harley-Davidson, Inc		12,476
	623,480		Honda Motor Co Ltd		17,994
	584,673		Johnson Controls International plc		27,205
	235,461	*	Magna International, Inc		10,108
	355,500		Mazda Motor Corp		5,454
	56,826	*	Modine Manufacturing Co		674
	8,900		NGK Spark Plug Co Ltd		157
	1,439,700		Nissan Motor Co Ltd		14,122
	35,885		Renault S.A.		2,952
	277,400		Sumitomo Electric Industries Ltd		3,922
	99,254	*,e	Tesla Motors, Inc		20,251
	147,000		Toyota Industries Corp		6,823
	2,720		Visteon Corp		195
	96,100		Yamaha Motor Co Ltd		1,942
			TOTAL AUTOMOBILES & COMPONENTS		203,883
BANKS - 4.0%
	4,098		1st Source Corp		146
	37,611		Ameris Bancorp		1,314
	1,199		Arrow Financial Corp		39
	48,752		Associated Banc-Corp		955
	4,424		Astoria Financial Corp		65
	994,722		Australia & New Zealand Banking Group Ltd		21,189
	5,842,914		Banca Intesa S.p.A.		12,972
	901,573		Banca Intesa S.p.A. RSP		1,892
	1,923		Bancfirst Corp		139
	2,406,035		Banco Bilbao Vizcaya Argentaria S.A.		14,558
	2,602,881		Banco de Sabadell S.A.		3,335
	989,839		Bank Hapoalim Ltd		5,620
	37,222		Bank Mutual Corp		286
	167,918	*	Bank of Montreal		11,003
	388,391		Bank of Nova Scotia		20,581
	3,264		Bank of the Ozarks, Inc		125
	14,280		Banner Corp		625
	891,841		BB&T Corp		33,640
	326		Bendigo Bank Ltd		3
	14,612		Beneficial Bancorp, Inc		215
	41,285		Berkshire Hills Bancorp, Inc		1,144
	901,000		BOC Hong Kong Holdings Ltd		3,066
	71,484		Boston Private Financial Holdings, Inc		917
	20,664		Brookline Bancorp, Inc		252
	14,021		Bryn Mawr Bank Corp		449
	1,664,732		CaixaBank S.A.		4,207
	9,176		Camden National Corp		438
	53,123	e	Canadian Imperial Bank of Commerce/Canada		4,119
	28,674		Capital Bank Financial Corp		921
	7,221		Capitol Federal Financial		102
	18,397		Cardinal Financial Corp		480
	3,360		Cathay General Bancorp		103

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	48,673		Centerstate Banks of Florida, Inc	$	863
	9,281		Chemical Financial Corp		410
	128,004		CIT Group, Inc		4,647
	151,443		Citizens Financial Group, Inc		3,742
	5,178		City Holding Co		260
	17,464		CoBiz, Inc		232
	2,120		Columbia Banking System, Inc		69
	163,828		Comerica, Inc		7,752
	64,761		Commerce Bancshares, Inc		3,190
	480,880		Commonwealth Bank of Australia		26,815
	3,936		Community Bank System, Inc		189
	3,149		Community Trust Bancorp, Inc		117
	8,715	e	Cullen/Frost Bankers, Inc		627
	35,216	*	Customers Bancorp, Inc		886
	345,010		DBS Group Holdings Ltd		3,915
	9,597		East West Bancorp, Inc		352
	40,439	*	FCB Financial Holdings, Inc		1,554
	12,423		Federal Agricultural Mortgage Corp (Class C)		491
	5,021		First Bancorp (NC)		99
	451		First Citizens Bancshares, Inc (Class A)		133
	124,103		First Commonwealth Financial Corp		1,252
	2,793		First Community Bancshares, Inc		69
	6,726		First Financial Bancorp		147
	25,728	e	First Financial Bankshares, Inc		938
	1,399		First Financial Corp		57
	27,726		First Interstate Bancsystem, Inc		874
	26,737		First Merchants Corp		715
	17,767		Flushing Financial Corp		421
	16,186		FNB Corp		199
	2,590		Glacier Bancorp, Inc		74
	9,041		Great Southern Bancorp, Inc		368
	5,441		Hancock Holding Co		176
	611,600		Hang Seng Bank Ltd		10,979
	7,159		Hanmi Financial Corp		189
	21,059		Heartland Financial USA, Inc		760
	25,997		Heritage Financial Corp		467
	15,597	*	HomeStreet, Inc		391
	24,362	*	HomeTrust Bancshares, Inc		451
	91,000		Hope Bancorp, Inc		1,581
	9,160		IBERIABANK Corp		615
	15,980		Independent Bank Corp (MA)		864
	1,460,543		ING Groep NV		18,031
	1,147		International Bancshares Corp		34
	136,208		Investors Bancorp, Inc		1,636
	205,232	*	KBC Groep NV		11,981
	1,228,311		Keycorp		14,949
	20,107		Lakeland Bancorp, Inc		282
	13,009		Lakeland Financial Corp		461
	163,494		M&T Bank Corp		18,982
	1,800		MB Financial, Inc		68
	58,589	*	MGIC Investment Corp		469
	107,300		Mitsui Trust Holdings, Inc		3,506
	10,074,200		Mizuho Financial Group, Inc		16,979

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	922,192		National Australia Bank Ltd	$	19,823
	33,554		National Bank Holdings Corp		784
	879,342		Natixis		4,103
	12,836		NBT Bancorp, Inc		422
	554,040		New York Community Bancorp, Inc		7,884
	1,468,458		Nordea Bank AB		14,582
	32,554		Northfield Bancorp, Inc		524
	62,169		OFG Bancorp		629
	19,038		Old National Bancorp		268
	15,000		Opus Bank		531
	21,876		PacWest Bancorp		939
	12,729		Peoples Bancorp, Inc		313
	2,728		People’s United Financial, Inc		43
	63,976	*	PHH Corp		924
	6,735		Pinnacle Financial Partners, Inc		364
	407,096		PNC Financial Services Group, Inc		36,675
	148,470		Popular, Inc		5,674
	19,500		PrivateBancorp, Inc		895
	50,953		Provident Financial Services, Inc		1,082
	146,534		Radian Group, Inc		1,986
	11,707		Renasant Corp		394
	155,400		Resona Holdings, Inc		654
	8,068		S&T Bancorp, Inc		234
	3,136	e	ServisFirst Bancshares, Inc		163
	183,355		Skandinaviska Enskilda Banken AB (Class A)		1,843
	25,524		Southside Bancshares, Inc		821
	1,280,710		Standard Chartered plc		10,422
	17,563		State Bank & Trust Co		401
	8,646		Stock Yards Bancorp, Inc		285
	532,900		Sumitomo Mitsui Financial Group, Inc		18,001
	27,169	*	SVB Financial Group		3,003
	125,439		Swedbank AB (A Shares)		2,947
	800	*	Texas Capital Bancshares, Inc		44
	12,553		TFS Financial Corp		224
	39,517	*	The Bancorp, Inc		254
	554,868		Toronto-Dominion Bank		24,632
	10,795		TowneBank		259
	12,715		Trico Bancshares		340
	4,770	*	Tristate Capital Holdings, Inc		77
	1,700		Trustmark Corp		47
	9,293		UMB Financial Corp		552
	33,564		Umpqua Holdings Corp		505
	19,739		Union Bankshares Corp		528
	10,415	e	United Bankshares, Inc		392
	25,576		United Financial Bancorp, Inc (New)		354
	15,008		Univest Corp of Pennsylvania		351
	1,010,396		US Bancorp		43,336
	38,257	*	Walker & Dunlop, Inc		966
	37,869	*,e	Walter Investment Management Corp		154
	3,203		Washington Trust Bancorp, Inc		129
	13,326		Webster Financial Corp		506
	8,948		WesBanco, Inc		294
	13,401	e	Westamerica Bancorporation		682

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	48,155	*	Western Alliance Bancorp	$	1,808
	1,048,592		Westpac Banking Corp		23,858
	1,110		Wintrust Financial Corp		62
	5,244		WSFS Financial Corp		191
	44,026		Zions Bancorporation		1,366
			TOTAL BANKS		549,732
CAPITAL GOODS - 4.4%
	311,049		3M Co		54,816
	8,641		A.O. Smith Corp		854
	644,289		ABB Ltd		14,521
	1,441		Acuity Brands, Inc		381
	8,699		Advanced Drainage Systems, Inc		209
	5,540		AGCO Corp		273
	3,490		Allegion plc		240
	289,743		Ametek, Inc		13,844
	18,674		Argan, Inc		1,105
	368,000		Asahi Glass Co Ltd		2,379
	137,861		Assa Abloy AB		2,800
	229,419		Atlas Copco AB (A Shares)		6,907
	242,593		Atlas Copco AB (B Shares)		6,629
	71,174		Barnes Group, Inc		2,886
	8,130		BE Aerospace, Inc		420
	2,120	*	Beacon Roofing Supply, Inc		89
	139,175		Bouygues S.A.		4,616
	63,274		Brenntag AG.		3,458
	28,642		Briggs & Stratton Corp		534
	73,289	*	Builders FirstSource, Inc		844
	223,629		Bunzl plc		6,594
	2,380		Carlisle Cos, Inc		244
	237,407		Caterpillar, Inc		21,075
	16,918	*	Chart Industries, Inc		555
	4,110		Chicago Bridge & Iron Co NV		115
	918,220		CNH Industrial NV		6,575
	302,187		Compagnie de Saint-Gobain		13,076
	196,171		Cummins, Inc		25,139
	49,700		Daikin Industries Ltd		4,638
	420,139		Danaher Corp		32,935
	122,146	e	Deere & Co		10,425
	88,316	*	DigitalGlobe, Inc		2,429
	10,100		Donaldson Co, Inc		377
	16,648		Dover Corp		1,226
	17,985	*	DXP Enterprises, Inc		507
	346,796		Eaton Corp		22,788
	51,547		Eiffage S.A.		4,006
	4,718		EMCOR Group, Inc		281
	21,522	*	Esterline Technologies Corp		1,637
	154,610		Fastenal Co		6,460
	211,902		Ferrovial S.A.		4,512
	9,785		Flowserve Corp		472
	5,600		Fortune Brands Home & Security, Inc		325
	54,197		GEA Group AG.		3,013
	4,400		Graco, Inc		326

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	19,491		H&E Equipment Services, Inc	$	327
	62,937		Hexcel Corp		2,788
	122,700	e	Hino Motors Ltd		1,311
	310,477		Illinois Tool Works, Inc		37,208
	141,621		Ingersoll-Rand plc		9,622
	5,190		ITT, Inc		186
	326,000		Kawasaki Heavy Industries Ltd		1,010
	1,317,970		Keppel Corp Ltd		5,246
	48,084	*,e	KEYW Holding Corp		531
	478,400	e	Komatsu Ltd		10,974
	475,874		Koninklijke Philips Electronics NV		14,081
	531,700		Kubota Corp		8,048
	58,157		Legrand S.A.		3,428
	3,160		Lennox International, Inc		496
	5,536		Lincoln Electric Holdings, Inc		347
	24,430		MAN AG.		2,577
	3,520	*	Manitowoc Foodservice, Inc		57
	443,765		Masco Corp		15,226
	367,518		Meggitt plc		2,145
	42,924	*	Meritor, Inc		478
	101,510		Metso Oyj		2,962
	3,141	*	Middleby Corp		388
	742,400		Mitsubishi Corp		16,924
	1,063,000		Mitsubishi Electric Corp		13,624
	3,770		MSC Industrial Direct Co (Class A)		277
	20,938	*	MYR Group, Inc		630
	83,000		NGK Insulators Ltd		1,725
	50,500	e	NSK Ltd		518
	5,790		Oshkosh Truck Corp		324
	27,428		Osram Licht AG.		1,611
	148,837		Owens Corning, Inc		7,946
	267,821		Paccar, Inc		15,743
	40,605		Parker Hannifin Corp		5,097
	106,699		Pentair plc		6,854
	248,946	*,e	Plug Power, Inc		426
	78,372	*	Quanta Services, Inc		2,194
	186,394		Rexel S.A.		2,855
	35,931		Rockwell Automation, Inc		4,396
	162,926		Rockwell Collins, Inc		13,741
	38,262		Roper Industries, Inc		6,982
	17,377	*	Rush Enterprises, Inc (Class A)		425
	238,948		Sandvik AB		2,629
	249,399		Schneider Electric S.A.		17,349
	1,554	*	Sensata Technologies Holding BV		60
	84,000		Shimizu Corp		751
	2,153		Snap-On, Inc		327
	8,810		Stanley Works		1,083
	1,082,700	e	Sumitomo Corp		12,120
	5,510		Timken Co		194
	13,621	*,e	Titan Machinery, Inc		142
	116,300		Toyota Tsusho Corp		2,703
	70,927	*	TransDigm Group, Inc		20,506
	28,374		Travis Perkins plc		566

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	5,435		Triton International Ltd	$	72
	23,804	*	United Rentals, Inc		1,868
	7,375	*	Veritiv Corp		370
	43,367		Vestas Wind Systems AS		3,582
	874,087		Volvo AB (B Shares)		9,980
	2,210		W.W. Grainger, Inc		497
	34,781	*	Wabash National Corp		495
	2,010	*	WABCO Holdings, Inc		228
	134,526		Wartsila Oyj (B Shares)		6,056
	3,350	*	WESCO International, Inc		206
	208,995		Wolseley plc		11,754
	19,775		Woodward Governor Co		1,236
	6,410		Xylem, Inc		336
			TOTAL CAPITAL GOODS		604,373
COMMERCIAL & PROFESSIONAL SERVICES - 0.6%
	2,604		ABM Industries, Inc		103
	148,662	*	ACCO Brands Corp		1,433
	222,516		Brambles Ltd		2,051
	102,222		Bureau Veritas S.A.		2,193
	479,095		Capita Group plc		4,150
	141,451	*	Copart, Inc		7,576
	4,840		Covanta Holding Corp		75
	22,935		Deluxe Corp		1,533
	52,606		Dun & Bradstreet Corp		7,187
	106,568		Equifax, Inc		14,342
	20,242		Exponent, Inc		1,034
	18,337		Heidrick & Struggles International, Inc		340
	11,793	*	ICF International, Inc		523
	16,650		Insperity, Inc		1,209
	74,708		Intertek Group plc		3,373
	16,221		Kelly Services, Inc (Class A)		312
	18,783		Kforce, Inc		385
	34,432		Manpower, Inc		2,488
	24,644	*	Mistras Group, Inc		578
	2,100		Mobile Mini, Inc		63
	68,326	*	Navigant Consulting, Inc		1,382
	1,000	*	On Assignment, Inc		36
	15,020		Pitney Bowes, Inc		273
	16,571		R.R. Donnelley & Sons Co		261
	21,731		Resources Connection, Inc		325
	112,876		Robert Half International, Inc		4,273
	3,650		Rollins, Inc		107
	50,157	*	RPX Corp		536
	26,500		Secom Co Ltd		1,979
	4,657		SGS S.A.		10,435
	1,544	*	SP Plus Corp		39
	8,899	*	Team, Inc		291
	26,318		Tetra Tech, Inc		934
	23,633		Viad Corp		871
	73,792		Waste Management, Inc		4,705
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		77,395

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
CONSUMER DURABLES & APPAREL - 1.0%
	93,811		Adidas-Salomon AG.	$	16,316
	497,409		Barratt Developments plc		3,184
	4,989		Berkeley Group Holdings plc		167
	263,458		Burberry Group plc		4,701
	83,671		Callaway Golf Co		971
	1,910		Carter’s, Inc		166
	49,992		Christian Dior S.A.		8,966
	9,000		Coach, Inc		329
	1,447		CSS Industries, Inc		37
	20,506		Ethan Allen Interiors, Inc		641
	8,870		Garmin Ltd		427
	17,912		Gildan Activewear, Inc		500
	16,028		Hanesbrands, Inc		405
	2,380		Harman International Industries, Inc		201
	4,666		Hasbro, Inc		370
	107,949	*	Kate Spade & Co		1,849
	3,670	*	Lululemon Athletica, Inc		224
	1,061,800		Matsushita Electric Industrial Co Ltd		10,620
	437,211		Mattel, Inc		13,239
	34,564	*	Meritage Homes Corp		1,199
	6,382	*	Michael Kors Holdings Ltd		299
	11,712	*	Mohawk Industries, Inc		2,346
	19,825		Movado Group, Inc		426
	607		Newell Rubbermaid, Inc		32
	786,763		Nike, Inc (Class B)		41,423
	11,827		Pandora AS		1,433
	6,140		Phillips-Van Heusen Corp		678
	2,290	e	Polaris Industries, Inc		177
	1,540		Pool Corp		146
	98,400		Sekisui House Ltd		1,676
	368,300		Sony Corp		12,202
	762,926		Taylor Wimpey plc		1,522
	4,240	*,e	Tempur-Pedic International, Inc		241
	4,000		Tupperware Corp		261
	55,610	*,e	Under Armour, Inc (Class A)		2,151
	18,549	*	Unifi, Inc		546
	20,261		VF Corp		1,136
	680		Whirlpool Corp		110
	667,500		Yue Yuen Industrial Holdings		2,759
			TOTAL CONSUMER DURABLES & APPAREL		134,076
CONSUMER SERVICES - 1.3%
	154,274		Accor S.A.		6,122
	11,006	*	American Public Education, Inc		218
	10,030		ARAMARK Holdings Corp		382
	1,289		Bob Evans Farms, Inc		49
	4,408	e	Brinker International, Inc		222
	20,930		Carriage Services, Inc		495
	47,687		Choice Hotels International, Inc		2,150
	95,765		Darden Restaurants, Inc		5,872
	16,118		DineEquity, Inc		1,277
	3,804	e	Dunkin Brands Group, Inc		198

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	14,787	*,e	El Pollo Loco Holdings, Inc	$	186
	25,689		Hilton Worldwide Holdings, Inc		589
	168,805		InterContinental Hotels Group plc		6,957
	29,678		Interval Leisure Group, Inc		510
	10,177	*	Intrawest Resorts Holdings Inc		165
	118,214	*,e	LifeLock, Inc		2,000
	6,202		Marcus Corp		155
	351,439	e	Marriott International, Inc (Class A)		23,663
	455,731		McDonald’s Corp		52,573
	52,700	e	Oriental Land Co Ltd		3,209
	25,107	*	Popeyes Louisiana Kitchen, Inc		1,334
	8,672		Royal Caribbean Cruises Ltd		650
	7,790		Service Corp International		207
	97,695	*	ServiceMaster Global Holdings, Inc		3,290
	22,564	*,e	Shake Shack, Inc		782
	5,690		Six Flags Entertainment Corp		305
	28,242		Sonic Corp		739
	830,711		Starbucks Corp		44,975
	450,189		TUI AG. (DI)		6,397
	1,490		Vail Resorts, Inc		234
	8,700		Wendy’s		94
	165,236		Whitbread plc		8,386
	9,231		Wyndham Worldwide Corp		622
			TOTAL CONSUMER SERVICES		175,007
DIVERSIFIED FINANCIALS - 2.8%
	877,255		3i Group plc		7,396
	520,605		Aberdeen Asset Management plc		2,197
	93,100	e	AEON Financial Service Co Ltd		1,630
	47,306		Ally Financial, Inc		921
	590,937		American Express Co		37,844
	7,017		Ameriprise Financial, Inc		700
	1,459,833		AMP Ltd		5,935
	1,182,218		Annaly Capital Management, Inc		12,413
	62,354		Apollo Commercial Real Estate Finance, Inc		1,021
	892,616		Bank of New York Mellon Corp		35,598
	104,425		BlackRock, Inc		37,850
	6,440		CBOE Holdings, Inc		418
	1,028,902		Charles Schwab Corp		32,482
	295,095		CME Group, Inc		30,843
	9,968	*,e	Credit Acceptance Corp		2,004
	19,164	*	Deutsche Boerse AG. (Tender)		1,556
	541,738		Discover Financial Services		30,635
	60,890		Dynex Capital, Inc		452
	11,590	*	E*TRADE Financial Corp		338
	8,680		Eaton Vance Corp		339
	12,537	*,e	Encore Capital Group, Inc		282
	29,847		Eurazeo		1,732
	101,179		Exor S.p.A.		4,097
	7,364		Factset Research Systems, Inc		1,194
	110,276		Franklin Resources, Inc		3,923
	61,152	*	Green Dot Corp		1,410
	589,771		Hong Kong Exchanges and Clearing Ltd		15,608

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	7,289		Industrivarden AB	$	135
	111,311		IntercontinentalExchange Group, Inc		29,983
	1,416		Invesco Ltd		44
	560,942		Investec plc		3,419
	33,731		Investment Technology Group, Inc		578
	4,369		Legg Mason, Inc		146
	203,802		London Stock Exchange Group plc		7,385
	29,164		Macquarie Group Ltd		1,844
	400,000		Mitsubishi UFJ Lease & Finance Co Ltd		1,836
	1,420		Morningstar, Inc		113
	5,520		NASDAQ OMX Group, Inc		373
	15,331		Nelnet, Inc (Class A)		619
	125,211		Northern Trust Corp		8,513
	67,947	*,e	On Deck Capital, Inc		387
	5,879	*	Pico Holdings, Inc		69
	42,887	e	Resource Capital Corp		549
	111,490		S&P Global, Inc		14,110
	9,411	*	Safeguard Scientifics, Inc		122
	121,850		Schroders plc		4,255
	10,587		SEI Investments Co		483
	9,620		Starwood Property Trust, Inc		217
	412,876		State Street Corp		28,749
	6,543		T Rowe Price Group, Inc		435
	1,056		TD Ameritrade Holding Corp		37
	14,360		Two Harbors Investment Corp		122
	10,154		Voya Financial, Inc		293
	25,718		Wendel		3,001
	99,833	e	WisdomTree Investments, Inc		1,027
			TOTAL DIVERSIFIED FINANCIALS		379,662
ENERGY - 4.0%
	45,350		Alon USA Energy, Inc		366
	137,043	e	AltaGas Income Trust		3,524
	646	*	Antero Resources Corp		17
	12,030		Apache Corp		768
	69,707	e	ARC Resources Ltd		1,261
	87,522	e	Atwood Oceanics, Inc		761
	264,399		Baker Hughes, Inc		13,344
	47,582	e	Bristow Group, Inc		667
	238,413		Caltex Australia Ltd		6,303
	27,965	e	CARBO Ceramics, Inc		306
	676,521		Cenovus Energy, Inc (Toronto)		9,710
	218,866	*	Cheniere Energy, Inc		9,543
	6,246		Cimarex Energy Co		839
	126,771	*,e	Clean Energy Fuels Corp		567
	796	*	Concho Resources, Inc		109
	286,060		ConocoPhillips		12,435
	123,487	*	Continental Resources, Inc		6,416
	184,834	e	Crescent Point Energy Corp		2,437
	2,500		Delek US Holdings, Inc		43
	12,864	*,e	Denbury Resources, Inc		42
	297,334		Devon Energy Corp		13,115
	3,010	*	Dril-Quip, Inc		168

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	391,519		Enbridge, Inc	$	17,207
	419,028		EnCana Corp		4,379
	5,711		Energen Corp		330
	428,892		EOG Resources, Inc		41,478
	40,526		EQT Corp		2,943
	44,861	*	Exterran Corp		703
	16,920	*	FMC Technologies, Inc		502
	2,810	e	Frank’s International NV		37
	398,930		Galp Energia SGPS S.A.		5,450
	48,602		Green Plains Renewable Energy, Inc		1,273
	238,546		Hess Corp		12,791
	595,800		Inpex Holdings, Inc		5,417
	161,289	e	Keyera Corp		5,215
	618,262		Kinder Morgan, Inc		14,300
	63,570		Koninklijke Vopak NV		3,334
	5,280	*	Laredo Petroleum Holdings, Inc		68
	514,987		Marathon Oil Corp		8,142
	437,929		Marathon Petroleum Corp		17,776
	38,458	*	Matrix Service Co		722
	342,462	*	McDermott International, Inc		1,716
	413,153		National Oilwell Varco, Inc		15,179
	17,718	*	Natural Gas Services Group, Inc		436
	119,986		Neste Oil Oyj		5,118
	117,436	*	Newpark Resources, Inc		864
	222,073		Noble Energy, Inc		7,937
	485,832		Occidental Petroleum Corp		35,427
	7,790		Oceaneering International, Inc		214
	195,590		OMV AG.		5,631
	3,074		Oneok, Inc		158
	171,130	*	Parker Drilling Co		371
	36,726	*	PDC Energy, Inc		2,463
	176,844	e	Pembina Pipeline Income Fund		5,389
	236,424		Petrofac Ltd		2,737
	451,898		Phillips 66		36,400
	122,255		Pioneer Natural Resources Co		22,697
	8,330		Questar Market Resources, Inc		163
	5,940		Range Resources Corp		230
	53,564	*	Renewable Energy Group, Inc		454
	903,593		Repsol YPF S.A.		12,275
	13,810	*	RigNet, Inc		209
	182,185		Rowan Cos plc		2,762
	2,420	*,e	RPC, Inc		41
	604,229		Schlumberger Ltd		47,517
	894	*,e	SEACOR Holdings, Inc		53
	133,500		Showa Shell Sekiyu KK		1,241
	19,835		SM Energy Co		765
	15,040	*	Southwestern Energy Co		208
	836,588		Spectra Energy Corp		35,764
	760,498		Statoil ASA		12,767
	657,002		Suncor Energy, Inc		18,239
	90,582		Superior Energy Services		1,621
	48,907		Technip S.A.		3,007
	168,796		Tenaris S.A.		2,404

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	37,026		Tesco Corp	$	302
	13,650		Tesoro Corp		1,086
	114,247	*	Tetra Technologies, Inc		698
	68,005	e	Tidewater, Inc		192
	25,840	*	Unit Corp		481
	229,982		Valero Energy Corp		12,189
	503,107	*	Weatherford International Ltd		2,827
	87,824		Western Refining, Inc		2,324
	427,614		Williams Cos, Inc		13,141
	354,433		Woodside Petroleum Ltd		7,859
	2,870		World Fuel Services Corp		133
			TOTAL ENERGY		548,497
FOOD & STAPLES RETAILING - 0.6%
	179,300		Aeon Co Ltd		2,653
	284,796		Carrefour S.A.		7,384
	36,959		Casey’s General Stores, Inc		4,441
	51,747		Casino Guichard Perrachon S.A.		2,519
	18,666	*,e	Chefs’ Warehouse Holdings, Inc		208
	34,879	e	Colruyt S.A.		1,937
	612,987		J Sainsbury plc		1,952
	69,935		Koninklijke Ahold Delhaize NV		1,593
	66,367		Loblaw Cos Ltd		3,414
	162,959		Metro AG.		4,851
	13,070	*	Natural Grocers by Vitamin C		146
	11,068		Pricesmart, Inc		927
	161,500		Seven & I Holdings Co Ltd		7,635
	9,069		Spartan Stores, Inc		262
	203,924	*	Sprouts Farmers Market, Inc		4,211
	4,438,693	*	Tesco plc		10,513
	347,886		Wesfarmers Ltd		11,794
	478,632	e	Whole Foods Market, Inc		13,569
	459,754		WM Morrison Supermarkets plc		1,298
			TOTAL FOOD & STAPLES RETAILING		81,307
FOOD, BEVERAGE & TOBACCO - 2.9%
	503,200		Ajinomoto Co, Inc		11,220
	79,778		Aryzta AG.		3,549
	306,419		Associated British Foods plc		10,325
	34,316		Bunge Ltd		2,032
	12,660		Calavo Growers, Inc		828
	62,062		Campbell Soup Co		3,395
	511,490		Coca-Cola Amatil Ltd		4,033
	1,337,562		Coca-Cola Co		56,606
	58,280	*	Coca-Cola European Partners plc		2,321
	165,829		Coca-Cola HBC AG.		3,852
	18,882	*	Darling International, Inc		255
	15,665		Dr Pepper Snapple Group, Inc		1,430
	6,570	e	Flowers Foods, Inc		99
	4,780		Fresh Del Monte Produce, Inc		286
	19,775	*,e	Freshpet, Inc		171
	517,659		General Mills, Inc		33,068
	239,139		Groupe Danone		17,757

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	3,870	*	Hain Celestial Group, Inc	$	138
	263,694		Hormel Foods Corp		10,002
	325,490		Kellogg Co		25,216
	110,981		Kerry Group plc (Class A)		9,246
	134,000		Kikkoman Corp		4,292
	434,763		Kraft Heinz Co		38,916
	912		Lindt & Spruengli AG.		5,274
	94		Lindt & Spruengli AG. (Registered)		6,415
	10,001		McCormick & Co, Inc		999
	8,063		Mead Johnson Nutrition Co		637
	969,825		Mondelez International, Inc		42,575
	52,900	e	Nissin Food Products Co Ltd		3,215
	31,281	*	Omega Protein Corp		731
	464,078		Orkla ASA		4,806
	53,130		PAN Fish ASA		953
	641,497		PepsiCo, Inc		69,776
	6,437	*	Seneca Foods Corp		182
	127,300		Suntory Beverage & Food Ltd		5,504
	419,887		Tate & Lyle plc		4,076
	79,800		Toyo Suisan Kaisha Ltd		3,385
	8,199	*	WhiteWave Foods Co (Class A)		446
	79,800	e	Yakult Honsha Co Ltd		3,607
			TOTAL FOOD, BEVERAGE & TOBACCO		391,618
HEALTH CARE EQUIPMENT & SERVICES - 2.3%
	13,468		Abaxis, Inc		695
	1,510	*	Abiomed, Inc		194
	72,457	*	Acadia Healthcare Co, Inc		3,590
	13,529		Aceto Corp		257
	337,871		Al Noor Hospitals Group plc		4,052
	89,290	*	Alere, Inc		3,861
	18,400		Alfresa Holdings Corp		390
	10,427	*	Align Technology, Inc		978
	14,850	*	Allscripts Healthcare Solutions, Inc		196
	39,105	*	Amedisys, Inc		1,855
	224,261		AmerisourceBergen Corp		18,116
	40,869	*	AMN Healthcare Services, Inc		1,303
	13,404	*	Amsurg Corp		899
	8,346		Analogic Corp		739
	31,116	*	Angiodynamics, Inc		546
	213,272		Anthem, Inc		26,725
	56,327	*,e	athenahealth, Inc		7,104
	32,319	*	AtriCure, Inc		511
	207,020		Becton Dickinson & Co		37,208
	36,978	*	Brookdale Senior Living, Inc		645
	39,833	*	Capital Senior Living Corp		669
	355,481		Cardinal Health, Inc		27,621
	25,145	*	Cardiovascular Systems, Inc		597
	135,769	*	Centene Corp		9,091
	118,014	*,e	Cerus Corp		733
	4,292		Chemed Corp		606
	219,636		Cigna Corp		28,623
	101,172		Coloplast AS		7,868

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	15,670	e	Computer Programs & Systems, Inc	$	408
	6,208	*	Corvel Corp		238
	25,039	*	Cross Country Healthcare, Inc		295
	6,956		DENTSPLY SIRONA, Inc		413
	49,980	*,e	Diplomat Pharmacy, Inc		1,400
	263,834	*	Edwards Lifesciences Corp		31,808
	928	*	Envision Healthcare Holdings, Inc		21
	114,517		Essilor International S.A.		14,772
	52,788	*	GenMark Diagnostics, Inc		623
	4,374	*	Haemonetics Corp		158
	1,323,351		Healthscope Ltd		3,126
	9,462	*	HealthStream, Inc		261
	22,814	*	Healthways, Inc		604
	25,498	*	Henry Schein, Inc		4,156
	10,561	*	HMS Holdings Corp		234
	97,236	*	Hologic, Inc		3,776
	134,066		Humana, Inc		23,715
	6,176	*	Integer Holding Corp		134
	5,530	*	Laboratory Corp of America Holdings		760
	13,496		Landauer, Inc		600
	19,312	*	LHC Group, Inc		712
	54,132	*	LifePoint Hospitals, Inc		3,206
	1,474	*	Medidata Solutions, Inc		82
	35,601	*	Merit Medical Systems, Inc		865
	36,933	*	Molina Healthcare, Inc		2,154
	41,964	*	NxStage Medical, Inc		1,049
	49,767	*	Omnicell, Inc		1,906
	77,874	*	OraSure Technologies, Inc		621
	2,718		Owens & Minor, Inc		94
	85,508		Patterson Cos, Inc		3,928
	41,819	*	PharMerica Corp		1,174
	1,740	*	Premier, Inc		56
	18,339	*	Providence Service Corp		892
	42,933		Quality Systems, Inc		486
	10,570		Quest Diagnostics, Inc		895
	23,328	*	Quidel Corp		515
	126,814		Ramsay Health Care Ltd		7,717
	11,982		Resmed, Inc		776
	302,847		Ryman Healthcare Ltd		2,126
	75,106	*	Select Medical Holdings Corp		1,014
	28,515	*	Spectranetics Corp		715
	42,474	*,e	Staar Surgical Co		399
	8,744	*	Surgical Care Affiliates, Inc		426
	39,900		Suzuken Co Ltd		1,318
	96,000		Sysmex Corp		7,123
	33,480	*	Triple-S Management Corp (Class B)		734
	53,166		Universal American Corp		407
	17,391		US Physical Therapy, Inc		1,090
	4,120	*	Varian Medical Systems, Inc		410
	20,620	*	Vascular Solutions, Inc		995
	2,963	*	VCA Antech, Inc		207
	32,132	*	Vocera Communications, Inc		543
	5,710		West Pharmaceutical Services, Inc		425

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	11,103	*	Wright Medical Group NV	$	272
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		318,506
HOUSEHOLD & PERSONAL PRODUCTS - 1.8%
	9,160		Clorox Co		1,147
	581,588		Colgate-Palmolive Co		43,119
	1,620		Energizer Holdings, Inc		81
	7,199		Estee Lauder Cos (Class A)		638
	26,786		Henkel KGaA		3,124
	58,363		Henkel KGaA (Preference)		7,943
	37,500		Kao Corp		2,120
	176,751		Kimberly-Clark Corp		22,295
	72,017		L’Oreal S.A.		13,612
	15,593		Medifast, Inc		589
	10,538	e	Natural Health Trends Corp		298
	4,380		Nu Skin Enterprises, Inc (Class A)		284
	1,025,321		Procter & Gamble Co		92,022
	214,514		Reckitt Benckiser Group plc		20,195
	391,317		Unilever NV		18,029
	443,839		Unilever plc		21,003
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		246,499
INSURANCE - 2.7%
	1,412,470		Aegon NV		5,388
	469,036		Aflac, Inc		33,710
	150,165		Allianz AG.		22,316
	11,210		Allstate Corp		776
	6,463		Arthur J. Gallagher & Co		329
	78,644		Aspen Insurance Holdings Ltd		3,664
	541,900		Assicurazioni Generali S.p.A.		6,613
	2,424,271		Aviva plc		13,833
	813,908		AXA S.A.		17,305
	73,209		Axis Capital Holdings Ltd		3,977
	315,438		Chubb Ltd		39,635
	154,746		CNP Assurances		2,600
	11,216		Employers Holdings, Inc		335
	4,054		Endurance Specialty Holdings Ltd		265
	2,482	*	Enstar Group Ltd		408
	279,887		Hartford Financial Services Group, Inc		11,985
	1,916		Kemper Corp		75
	3,118,480		Legal & General Group plc		8,838
	9,710		Loews Corp		400
	496,895		Marsh & McLennan Cos, Inc		33,416
	73,001		Muenchener Rueckver AG.		13,634
	22,200		NKSJ Holdings, Inc		658
	2,963,392		Old Mutual plc		7,768
	231,399		Principal Financial Group		11,919
	2,180		ProAssurance Corp		114
	205,337		Progressive Corp		6,468
	426,246		Prudential Financial, Inc		34,803
	1,013,931		Prudential plc		17,974
	6,628		Reinsurance Group of America, Inc (Class A)		715
	41,214		RenaissanceRe Holdings Ltd		4,952

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	290,339		RSA Insurance Group plc	$	2,051
	819,890		Standard Life plc		3,652
	20,374		Stewart Information Services Corp		906
	131,114		Swiss Re Ltd		11,842
	70,500		T&D Holdings, Inc		795
	298,598		Travelers Cos, Inc		34,204
	1,038		Willis Towers Watson plc		138
	65,076		Zurich Financial Services AG.		16,783
			TOTAL INSURANCE		375,244
MATERIALS - 3.2%
	61,387		Agnico-Eagle Mines Ltd		3,320
	34,866	e	Agrium, Inc		3,159
	154,737		Air Liquide		16,593
	228,485		Air Products & Chemicals, Inc		34,350
	63,469		Akzo Nobel NV		4,293
	563		Albemarle Corp		48
	4,930		Aptargroup, Inc		382
	162,000		Asahi Kasei Corp		1,291
	45,732		Avery Dennison Corp		3,558
	4,040	*	Axalta Coating Systems Ltd		114
	60,225		Ball Corp		4,935
	290,892		BASF SE		24,908
	7,500		Bemis Co, Inc		383
	253,307		Boliden AB		5,954
	49,031		Celanese Corp (Series A)		3,264
	71,684	*	Century Aluminum Co		498
	2,372	*	Clearwater Paper Corp		153
	125,429		Commercial Metals Co		2,031
	1,280	e	Compass Minerals International, Inc		94
	55,550		CRH plc		1,845
	37,979		Croda International plc		1,714
	2,590		Domtar Corp		96
	5,941		DSM NV		401
	35,889		Eastman Chemical Co		2,429
	291,800		Ecolab, Inc		35,518
	5,690	*	Ferro Corp		79
	258,032		Fletcher Building Ltd		2,021
	75,304	*,e	Flotek Industries, Inc		1,095
	44,739		Franco-Nevada Corp		3,126
	5,005		Givaudan S.A.		10,204
	62,353		H.B. Fuller Co		2,898
	3,382		Hawkins, Inc		147
	86,754		HeidelbergCement AG.		8,205
	193,000		Hitachi Metals Ltd		2,374
	270,364		Holcim Ltd		14,644
	19,635		Innophos Holdings, Inc		766
	2,890		International Flavors & Fragrances, Inc		413
	204,582		International Paper Co		9,816
	174,223		Johnson Matthey plc		7,431
	186,283	*	Kinross Gold Corp		785
	281,400		Kobe Steel Ltd		2,552
	42,526	*	Kraton Polymers LLC		1,490

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	58,000		Kuraray Co Ltd	$	860
	165,215	*	Louisiana-Pacific Corp		3,111
	331,183		LyondellBasell Industries AF S.C.A		26,713
	26,494		Materion Corp		814
	36,779		Minerals Technologies, Inc		2,600
	104,100	e	Mitsubishi Materials Corp		2,847
	120,960		Mitsui Chemicals, Inc		575
	26,440		Mondi plc		556
	113,534		Mosaic Co		2,777
	21,578		Myers Industries, Inc		280
	2,220		Neenah Paper, Inc		175
	364,972	*	Newcrest Mining Ltd		6,161
	21,200		Nitto Denko Corp		1,377
	1,233,217		Norsk Hydro ASA		5,332
	410,712		Nucor Corp		20,310
	11,308		PolyOne Corp		382
	413,813		Potash Corp of Saskatchewan		6,734
	13,539		PPG Industries, Inc		1,399
	257,154		Praxair, Inc		31,072
	1,380		Quaker Chemical Corp		146
	13,463		Reliance Steel & Aluminum Co		970
	64,576		Royal Gold, Inc		5,000
	36,960		Schnitzer Steel Industries, Inc (Class A)		773
	15,737		Sealed Air Corp		721
	53,965		Sherwin-Williams Co		14,930
	153,100		Shin-Etsu Chemical Co Ltd		10,682
	288,201		Silver Wheaton Corp		7,785
	7,860		Sonoco Products Co		415
	4,865,343	*	South32 Ltd		9,065
	9,380		Steel Dynamics, Inc		234
	1,200		Stepan Co		87
	71,596	*	Stillwater Mining Co		957
	1,429,000		Sumitomo Chemical Co Ltd		6,350
	457,000		Sumitomo Metal Mining Co Ltd		6,312
	519,893		Teck Cominco Ltd		9,372
	535,000	e	Toray Industries, Inc		5,211
	40,195		Trinseo S.A.		2,273
	77,066		Umicore		4,839
	20,936	*	US Concrete, Inc		964
	169,592		WestRock Co		8,222
	63,363	*	Worthington Industries, Inc		3,043
			TOTAL MATERIALS		431,803
MEDIA - 1.5%
	130		Cable One, Inc		76
	147,152	*	Charter Communications, Inc		39,727
	4,399		Cinemark Holdings, Inc		168
	101,469		Clear Channel Outdoor Holdings, Inc (Class A)		593
	49,500		Dentsu, Inc		2,519
	203,155	*	Discovery Communications, Inc (Class A)		5,469
	332,911	*	Discovery Communications, Inc (Class C)		8,759
	27,652		Entercom Communications Corp (Class A)		358
	89,828		Entravision Communications Corp (Class A)		685

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	18,968	*	Gray Television, Inc	$	196
	526,783		ITV plc		1,278
	13,149		John Wiley & Sons, Inc (Class A)		679
	4,448	*	Liberty Global plc		147
	2,960	*	Liberty Global plc (Class A)		101
	38,808	*	Media General, Inc		715
	169,951		New York Times Co (Class A)		2,031
	534,255		Pearson plc		5,223
	108,173		ProSiebenSat. Media AG.		4,638
	6,739		Reed Elsevier NV		121
	519,867		Reed Elsevier plc		9,858
	6,430	e	Regal Entertainment Group (Class A)		140
	1,550		Scholastic Corp		61
	36,146		Scripps Networks Interactive (Class A)		2,295
	99,452		SES Global S.A.		2,442
	162,694		Shaw Communications, Inc (B Shares)		3,330
	57,685		Sinclair Broadcast Group, Inc (Class A)		1,666
	537,993		Time Warner, Inc		42,829
	317,818		Vivendi Universal S.A.		6,414
	678,512		Walt Disney Co		63,007
	663,213		WPP plc		15,589
			TOTAL MEDIA		221,114
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.8%
	73,571		Actelion Ltd		12,767
	374,661		Agilent Technologies, Inc		17,643
	116,090	*	Akorn, Inc		3,165
	128,214	*	Alexion Pharmaceuticals, Inc		15,711
	344,546		Amgen, Inc		57,474
	977,288		Astellas Pharma, Inc		15,264
	99,694	*	Biogen Idec, Inc		31,207
	5,484	*	BioMarin Pharmaceutical, Inc		507
	910		Bio-Techne Corp		100
	14,135	*,e	Bluebird Bio, Inc		958
	817,809		Bristol-Myers Squibb Co		44,096
	8,320		Bruker BioSciences Corp		188
	45,098	*	Cambrex Corp		2,005
	377,904	*	Celgene Corp		39,502
	37,323	*,e	Cempra, Inc		903
	55,113	*	Cepheid, Inc		2,904
	60,444	*	Chimerix, Inc		335
	166,400		Chugai Pharmaceutical Co Ltd		6,014
	86,366	*,e,m	Depomed, Inc		2,236
	62,500	e	Eisai Co Ltd		3,909
	17,431	*,e	Fluidigm Corp		140
	19,422	*	Genmab AS		3,324
	625,076		Gilead Sciences, Inc		49,456
	1,345,682		GlaxoSmithKline plc		28,661
	115,863	*,e	Immunomedics, Inc		377
	95,980	*,e	Inovio Pharmaceuticals, Inc		895
	36,118	*	Intersect ENT, Inc		572
	31,280	*	Intra-Cellular Therapies, Inc		477
	959,123		Johnson & Johnson		113,301

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	8,496	*	Kite Pharma, Inc	$	475
	25,800		Kyowa Hakko Kogyo Co Ltd		408
	38,211		Lonza Group AG.		7,314
	1,181,900		Merck & Co, Inc		73,762
	114,285		Merck KGaA		12,327
	4,162	*	Mettler-Toledo International, Inc		1,747
	110,014	*,e	MiMedx Group, Inc		944
	18,242	*	Mirati Therapeutics, Inc		121
	10,621	*	Momenta Pharmaceuticals, Inc		124
	162,598	*	Nektar Therapeutics		2,793
	535,295		Novartis AG.		42,246
	523,312		Novo Nordisk AS		21,811
	19,152	*,e	Ocular Therapeutix, Inc		132
	19,069	*,e	Opko Health, Inc		202
	92,139		Orion Oyj (Class B)		3,632
	20,635		PerkinElmer, Inc		1,158
	46,519	*	Prestige Brands Holdings, Inc		2,245
	71,801	*,e	Progenics Pharmaceuticals, Inc		454
	36,779	*,e	Prothena Corp plc		2,206
	159,019	*	Qiagen NV		4,385
	3,687	*	Quintiles Transnational Holdings, Inc		299
	33,007	*	Repligen Corp		996
	9,844	*,e	Revance Therapeutics, Inc		160
	168,044		Roche Holding AG.		41,759
	86,173	*	Sangamo Biosciences, Inc		399
	10,300		Santen Pharmaceutical Co Ltd		152
	58,357	*,e	Sarepta Therapeutics, Inc		3,584
	35,900		Shionogi & Co Ltd		1,839
	33,886	*	Sucampo Pharmaceuticals, Inc (Class A)		417
	342,385	e	Takeda Pharmaceutical Co Ltd		16,410
	11,116	*,e	Theravance Biopharma, Inc		403
	270,522		Thermo Electron Corp		43,029
	125,861	*	Vertex Pharmaceuticals, Inc		10,976
	2,170	*	VWR Corp		62
	25,086	*	Waters Corp		3,976
	648,547		Zoetis Inc		33,731
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		790,769
REAL ESTATE - 2.6%
	83,800		Aeon Mall Co Ltd		1,324
	16,706	*	Altisource Portfolio Solutions S.A.		541
	18,955		American Campus Communities, Inc		964
	329,901		American Tower Corp		37,388
	4,840		Apple Hospitality REIT, Inc		90
	2,022		AvalonBay Communities, Inc		360
	119,319		Boston Properties, Inc		16,262
	7,140		Brandywine Realty Trust		112
	886,885		British Land Co plc		7,264
	10,152		Brixmor Property Group, Inc		282
	3,550		Camden Property Trust		297
	2,313,849		CapitaLand Ltd		5,462
	1,892,700		CapitaMall Trust		3,015
	159,778	*	CBRE Group, Inc		4,471

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	262,900		City Developments Ltd	$	1,758
	79,741		Columbia Property Trust, Inc		1,785
	35,170		Coresite Realty		2,604
	323,732		Crown Castle International Corp		30,499
	373,000		Daiwa House Industry Co Ltd		10,237
	5,469		Digital Realty Trust, Inc		531
	166,157		Duke Realty Corp		4,541
	45,961		Easterly Government Properties, Inc		877
	51,226		Equinix, Inc		18,454
	3,170		Equity Lifestyle Properties, Inc		245
	3,800		Equity One, Inc		116
	191,814		Equity Residential		12,339
	33,097		First Potomac Realty Trust		303
	8,882		Forest City Realty Trust, Inc		205
	590,981		Hammerson plc		4,498
	295,000		Hang Lung Properties Ltd		669
	329,802		HCP, Inc		12,516
	348,639		Host Marriott Corp		5,428
	361,000		Hysan Development Co Ltd		1,699
	14,974		Icade		1,168
	847,347	e	Intu Properties plc		3,249
	12,265		Iron Mountain, Inc		460
	597,633		Land Securities Group plc		8,190
	121,798		Lend Lease Corp Ltd		1,320
	6,070		Liberty Property Trust		245
	52,571		Macerich Co		4,251
	202,870		Macquarie Goodman Group		1,137
	3,100		Mid-America Apartment Communities, Inc		291
	727,767		Mirvac Group		1,255
	68,000		Mitsubishi Estate Co Ltd		1,276
	522,810		Mitsui Fudosan Co Ltd		11,123
	107,800		Nomura Real Estate Holdings, Inc		1,822
	78,855		NorthStar Realty Europe Corp		864
	6,010		Piedmont Office Realty Trust, Inc		131
	2,190		Post Properties, Inc		145
	400,776		Prologis, Inc		21,458
	5,090		Rayonier, Inc		135
	6,000		Realogy Holdings Corp		155
	3,980		Regency Centers Corp		308
	3,556		RMR Group, Inc		135
	157		Ryman Hospitality Properties		8
	424,837		Segro plc		2,496
	149,100		Shoei Co Ltd		1,523
	200,041		Simon Property Group, Inc		41,411
	647,937		Stockland Trust Group		2,373
	498,500		Swire Pacific Ltd (Class A)		5,399
	1,072,600		Swire Properties Ltd		3,155
	5,425	*	Tejon Ranch Co		132
	36,621		Tier REIT, Inc		565
	12,000		Tokyu Fudosan Holdings Corp		65
	51,546		Unibail-Rodamco		13,899
	92,992		Ventas, Inc		6,568
	24,663		Vornado Realty Trust		2,496

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	298,606		Welltower, Inc	$	22,327
	1,409		Weyerhaeuser Co		45
			TOTAL REAL ESTATE		348,716
RETAILING - 2.1%
	36,131	*	1-800-FLOWERS.COM, Inc (Class A)		331
	5,395		Advance Auto Parts, Inc		804
	233,043		American Eagle Outfitters, Inc		4,162
	2,480	*	Autonation, Inc		121
	38,316	*	AutoZone, Inc		29,440
	49,707		Bed Bath & Beyond, Inc		2,143
	149,407		Best Buy Co, Inc		5,704
	25,076		Big 5 Sporting Goods Corp		342
	15,282		Blue Nile, Inc		526
	7,601	*	Cabela’s, Inc		418
	26,039		Caleres, Inc		659
	79,268	*,e	Carmax, Inc		4,229
	22,552	*	Container Store Group, Inc		113
	3,320		Dick’s Sporting Goods, Inc		188
	298,978		Dollar General Corp		20,925
	36,302		DSW, Inc (Class A)		743
	148,678	*	Etsy, Inc		2,123
	15,800		Fast Retailing Co Ltd		5,088
	35,200		Finish Line, Inc (Class A)		812
	10,750		Foot Locker, Inc		728
	57,974	*	Francesca’s Holdings Corp		895
	26,209	*	FTD Cos, Inc		539
	311,398	e	Gap, Inc		6,925
	22,241		GNC Holdings, Inc		454
	547,502	*	Groupon, Inc		2,820
	28,231		Haverty Furniture Cos, Inc		566
	236,304		Hennes & Mauritz AB (B Shares)		6,670
	44,309		HSN, Inc		1,763
	385,443		Industria De Diseno Textil S.A.		14,291
	82,300		Jardine Cycle & Carriage Ltd		2,600
	42,131		Kering		8,501
	592,888		Kingfisher plc		2,893
	16,260		Kirkland’s, Inc		198
	276,783		Kohl’s Corp		12,109
	21,004	*,e	Lands’ End, Inc		305
	5,325,620		Li & Fung Ltd		2,744
	16,293	*	LKQ Corp		578
	555,553		Lowe’s Companies, Inc		40,116
	30,764	*	MarineMax, Inc		645
	342,665		Marks & Spencer Group plc		1,470
	2,400	e	Marui Co Ltd		32
	309,456	*	NetFlix, Inc		30,497
	55,178		Next plc		3,415
	44,668	e	Nordstrom, Inc		2,317
	40,876		Nutri/System, Inc		1,214
	773,913		Office Depot, Inc		2,763
	17,187	*	Overstock.com, Inc		263
	26,265	e	PetMed Express, Inc		533

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	35,119	e	Pier 1 Imports, Inc	$	149
	343,569		Ross Stores, Inc		22,091
	11,640	*,e	Sally Beauty Holdings, Inc		299
	17,543		Shoe Carnival, Inc		468
	48,318	*	Shutterfly, Inc		2,157
	3,594		Signet Jewelers Ltd		268
	32,052	e	Stage Stores, Inc		180
	932,937		Staples, Inc		7,977
	10,684		Stein Mart, Inc		68
	9,440	e	Tiffany & Co		686
	15,696	*	Tile Shop Holdings, Inc		260
	5,568		Tractor Supply Co		375
	61,170	*	Ulta Salon Cosmetics & Fragrance, Inc		14,557
	34,722	*,e	Vitamin Shoppe, Inc		932
	44,104	*,e	Wayfair, Inc		1,736
	7,030	e	Williams-Sonoma, Inc		359
			TOTAL RETAILING		280,277
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.6%
	9,048		Analog Devices, Inc		583
	1,171,797		Applied Materials, Inc		35,330
	154,037		ASML Holding NV		16,881
	14,878	*	Cirrus Logic, Inc		791
	1,940,331		Intel Corp		73,247
	26,301	e	Lam Research Corp		2,491
	32,040		Marvell Technology Group Ltd		425
	7,726		Microchip Technology, Inc		480
	429,651		Nvidia Corp		29,440
	68,538	*	ON Semiconductor Corp		844
	130,206		Skyworks Solutions, Inc		9,914
	67,498	*,e	SunPower Corp		602
	665,674		Texas Instruments, Inc		46,717
	48,400		Tokyo Electron Ltd		4,278
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		222,023
SOFTWARE & SERVICES - 5.9%
	384,697		Accenture plc		46,998
	48,870	*	Actua Corp		633
	87,008	*	Alphabet, Inc (Class A)		69,960
	92,035	*	Alphabet, Inc (Class C)		71,538
	36,042		Amadeus IT Holding S.A.		1,799
	56,285	*,e	Angie’s List, Inc		558
	6,797	*	Ansys, Inc		629
	32,963		Atos Origin S.A.		3,549
	189,557	*	Autodesk, Inc		13,711
	347,556		Automatic Data Processing, Inc		30,654
	56,043		Blackbaud, Inc		3,718
	9,040		Booz Allen Hamilton Holding Co		286
	37,854		CA, Inc		1,252
	81,498		Cap Gemini S.A.		7,990
	124,477	*	CGI Group, Inc		5,929
	18,384	*,e	Cimpress NV		1,860
	11,265	*	Citrix Systems, Inc		960

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	549,262	*	Cognizant Technology Solutions Corp (Class A)	$	26,205
	67,598	*	comScore, Inc		2,073
	19,152		Convergys Corp		583
	28,146		CSG Systems International, Inc		1,163
	71,030	*	DHI Group, Inc		560
	1,360		DST Systems, Inc		160
	41,722	*	Ellie Mae, Inc		4,393
	14,195	*	Euronet Worldwide, Inc		1,162
	1,924		Forrester Research, Inc		75
	987,000		Fujitsu Ltd		5,312
	149,102	*,e	Glu Mobile, Inc		334
	6,077	*	inContact, Inc		85
	72,566	*	Infoblox, Inc		1,914
	406,954		International Business Machines Corp		64,645
	301,584		Intuit, Inc		33,177
	65,857		j2 Global, Inc		4,387
	50,073		Jack Henry & Associates, Inc		4,284
	35,661	e	LogMeIn, Inc		3,223
	21,026	*	Manhattan Associates, Inc		1,211
	539,097		MasterCard, Inc (Class A)		54,864
	1,741,879		Microsoft Corp		100,332
	131,542	*	Monster Worldwide, Inc		475
	18,851	*,e	NeuStar, Inc (Class A)		501
	31,763	*,e	New Relic, Inc		1,217
	15,716		Open Text Corp		1,018
	1,410,378		Oracle Corp		55,400
	48,556	*	Perficient, Inc		978
	9,697	*	Progress Software Corp		264
	4,340	*	PTC, Inc		192
	39,344	*	Qualys, Inc		1,503
	92,723	*	Quotient Technology, Inc		1,234
	155,242	*	Rackspace Hosting, Inc		4,920
	55,778	*	RetailMeNot, Inc		552
	81,968	*	RingCentral, Inc		1,939
	484,597	*	Salesforce.com, Inc		34,566
	293,096		SAP AG.		26,804
	205,933	*	ServiceSource International LLC		1,005
	23,538	*	Silver Spring Networks, Inc		334
	23,805	*	SPS Commerce, Inc		1,747
	21,303	*	Sykes Enterprises, Inc		599
	707,926		Symantec Corp		17,769
	12,352	*,e	Syntel, Inc		518
	28,663	*	Tangoe, Inc		236
	30,359	*	Teradata Corp		941
	7,887	*	TiVo Corp		154
	40,808	*	Tyler Technologies, Inc		6,988
	25,582	*	Ultimate Software Group, Inc		5,229
	36,283	*	Vasco Data Security International		639
	60,197	*	Website Pros, Inc		1,040
	39,960		Western Union Co		832
	169,511	*	Workday, Inc		15,542
	1,497,792		Xerox Corp		15,173
	818,813	*	Yahoo!, Inc		35,291
			TOTAL SOFTWARE & SERVICES		807,766

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
TECHNOLOGY HARDWARE & EQUIPMENT - 1.8%
	8,103		Adtran, Inc	$	155
	56,005	*,e	Arista Networks, Inc		4,765
	4,043		Belden CDT, Inc		279
	32,158	*	Benchmark Electronics, Inc		802
	54,538	*	Calix, Inc		401
	2,125,511		Cisco Systems, Inc		67,421
	10,311		Cognex Corp		545
	909	*	Coherent, Inc		100
	22,719		Comtech Telecommunications Corp		291
	528,084		Corning, Inc		12,489
	57,006	*	Cray, Inc		1,342
	6,759		CTS Corp		126
	22,138		Daktronics, Inc		211
	1,930		Dolby Laboratories, Inc (Class A)		105
	679,827		Ericsson (LM) (B Shares)		4,909
	48,754	*	Fabrinet		2,174
	17,385	*	FARO Technologies, Inc		625
	98,413	*	Finisar Corp		2,933
	8,777	*	Flextronics International Ltd		120
	1,022,024		Hewlett Packard Enterprise Co		23,251
	2,175,799		HP, Inc		33,790
	215,890		Ingram Micro, Inc (Class A)		7,699
	11,132	*	Insight Enterprises, Inc		362
	6,770		InterDigital, Inc		536
	22,123	*	IPG Photonics Corp		1,822
	46,312		Jabil Circuit, Inc		1,010
	21,900		Keyence Corp		16,046
	4,120	*	Keysight Technologies, Inc		131
	238,300		Konica Minolta Holdings, Inc		2,018
	148,000		Kyocera Corp		7,112
	90,645		Lexmark International, Inc (Class A)		3,622
	198,730		Motorola, Inc		15,159
	88,400		Murata Manufacturing Co Ltd		11,539
	8,230		National Instruments Corp		234
	916,819		NEC Corp		2,365
	45,562	*	Netgear, Inc		2,756
	81,900		Omron Corp		2,948
	500	*	OSI Systems, Inc		33
	2,500	*	Rofin-Sinar Technologies, Inc		80
	31,458	*	Scansource, Inc		1,148
	71,216	*	Sonus Networks, Inc		554
	55,539	*	Super Micro Computer, Inc		1,298
	1,417		SYNNEX Corp		162
	31,800		TDK Corp		2,131
	6,018		TE Connectivity Ltd		387
	49,566	*	Tech Data Corp		4,199
	22,178	*	Trimble Navigation Ltd		633
	37,935	*	TTM Technologies, Inc		434
	34,560	*	Universal Display Corp		1,918
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		245,170

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
TELECOMMUNICATION SERVICES - 1.8%
	51,500	*	Boingo Wireless, Inc	$	529
	3,419,022		BT Group plc		17,202
	708,718		CenturyTel, Inc		19,440
	302,316	*	Cincinnati Bell, Inc		1,234
	2,650		Consolidated Communications Holdings, Inc		67
	3,261	*	Fairpoint Communications, Inc		49
	40,501	*	General Communication, Inc (Class A)		557
	267,338	*,e	Globalstar, Inc		324
	24,572		IDT Corp (Class B)		424
	118,316	*,e	Iridium Communications, Inc		960
	558,232		KDDI Corp		17,295
	164,366	*	Level 3 Communications, Inc		7,623
	23,855	*	Lumos Networks Corp		334
	325,300		Nippon Telegraph & Telephone Corp		14,878
	519,300		NTT DoCoMo, Inc		13,192
	115,952		Rogers Communications, Inc (Class B)		4,919
	4,260	*	SBA Communications Corp (Class A)		478
	17,279		Shenandoah Telecom Co		470
	4,335,600		Singapore Telecommunications Ltd		12,681
	1,101,453	*,e	Sprint Corp		7,303
	21,076		Swisscom AG.		10,025
	226,642		Telefonica Deutschland Holding AG.		914
	976,170		TeliaSonera AB		4,372
	8,858		TELUS Corp		292
	1,542,485		Verizon Communications, Inc		80,178
	8,117,720		Vodafone Group plc		23,281
	267,230	*	Vonage Holdings Corp		1,766
			TOTAL TELECOMMUNICATION SERVICES		240,787
TRANSPORTATION - 1.5%
	5,192		Aeroports de Paris		515
	4,146		Arkansas Best Corp		79
	306,566		Auckland International Airport Ltd		1,643
	92,845	*	Avis Budget Group, Inc		3,176
	294,530		Canadian National Railway Co		19,253
	72,500		Central Japan Railway Co		12,412
	10,740		CH Robinson Worldwide, Inc		757
	214,704		CSX Corp		6,548
	299,384		Delta Air Lines, Inc		11,784
	485,828		Deutsche Post AG.		15,210
	162,300		East Japan Railway Co		14,650
	1,591		easyJet plc		21
	36,548	*	Echo Global Logistics, Inc		843
	14,135		Expeditors International of Washington, Inc		728
	37,371		Fraport AG. Frankfurt Airport Services Worldwide		2,045
	307		Kansas City Southern Industries, Inc		29
	723		Kuehne & Nagel International AG.		105
	3,360		Landstar System, Inc		229
	513,000	e	Mitsui OSK Lines Ltd		1,193
	1,351,798		MTR Corp		7,470
	718,000		Nippon Yusen Kabushiki Kaisha		1,344

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	25,190		Norfolk Southern Corp	$	2,445
	1,970		Ryder System, Inc		130
	5,900		Singapore Airlines Ltd		46
	674,783		Southwest Airlines Co		26,242
	2,560	*	Spirit Airlines, Inc		109
	16,260		Sydney Airport		87
	197,000		Tokyu Corp		1,503
	108,881		Transurban Group (ASE)		952
	484,812		Union Pacific Corp		47,284
	376,503		United Parcel Service, Inc (Class B)		41,174
	23,313	*	YRC Worldwide, Inc		287
			TOTAL TRANSPORTATION		220,293
UTILITIES - 2.1%
	27,140		AES Corp		349
	38,318		American Water Works Co, Inc		2,868
	557,702		APA Group		3,654
	30,410		Atco Ltd		1,081
	46,554		Canadian Utilities Ltd		1,314
	230,104		Centerpoint Energy, Inc		5,345
	1,248,500		CLP Holdings Ltd		12,931
	359,195		Consolidated Edison, Inc		27,047
	235,742		Dominion Resources, Inc		17,509
	84,047		Edison International		6,072
	256,435		Energias de Portugal S.A.		861
	316,448		Eversource Energy		17,145
	106,759		Fortis, Inc		3,433
	6,611,536		Hong Kong & China Gas Ltd		12,554
	2,289,866		Iberdrola S.A.		15,570
	282,812	*	Meridian Energy Ltd		536
	1,394,361		National Grid plc		19,692
	13,180		NiSource, Inc		318
	167,000		Osaka Gas Co Ltd		700
	113,778		Piedmont Natural Gas Co, Inc		6,831
	301,519		Public Service Enterprise Group, Inc		12,625
	690,257		Scottish & Southern Energy plc		14,016
	241,426		Sempra Energy		25,878
	1,240,808		Snam Rete Gas S.p.A.		6,880
	35,973		South Jersey Industries, Inc		1,063
	502,334		Southern Co		25,770
	295,824		Suez Environnement S.A.		4,888
	32,615		Terna Rete Elettrica Nazionale S.p.A.		168
	964,790		Tokyo Gas Co Ltd		4,292
	616,545		United Utilities Group plc		8,008
	3,450		Vectren Corp		173
	225,694		WEC Energy Group, Inc		13,515
	2,969		WGL Holdings, Inc		186
	250,865		Xcel Energy, Inc		10,321
			TOTAL UTILITIES		283,593
			TOTAL COMMON STOCKS		8,178,110
			(Cost $6,398,617)

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	233,115	*,e	Federal Home Loan Mortgage Corp	$	811
	740,991	*	Federal National Mortgage Association		2,601
	14,500	*,e	M&T Bank Corp		15,986
			TOTAL BANKS		19,398
			TOTAL PREFERRED STOCKS		19,398
			(Cost $38,865)

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 4.6%
GOVERNMENT AGENCY DEBT - 0.5%
$	64,000,000	Federal Home Loan Bank (FHLB)		0.350	%	02/06/17		63,926
		TOTAL GOVERNMENT AGENCY DEBT						63,926
TREASURY DEBT - 2.6%
	50,000,000	United States Treasury Bill		0.230		10/13/16		49,998
	39,000,000	United States Treasury Bill		0.215		10/20/16		38,997
	55,000,000	United States Treasury Bill		0.267		11/03/16		54,990
	9,100,000	United States Treasury Bill		0.300		12/01/16		9,097
	4,900,000	United States Treasury Bill		0.282		02/02/17		4,895
	57,000,000	United States Treasury Bill		0.305 - 0.312		02/09/17		56,930
	32,400,000	United States Treasury Bill		0.315		02/23/17		32,355
	50,000,000	United States Treasury Bill		0.320		03/02/17		49,924
	60,000,000	United States Treasury Bill		0.369 - 0.392		03/23/17		59,879
		TOTAL TREASURY DEBT						357,065
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.5%
TREASURY DEBT - 1.5%
	9,100,000	United States Treasury Bill		0.308		10/20/16		9,099
	5,000,000	United States Treasury Bill		0.263		10/27/16		4,999
	28,000,000	United States Treasury Bill		0.293		12/01/16		27,986
	15,000,000	United States Treasury Bill		0.300		12/15/16		14,991
	20,000,000	United States Treasury Bill		0.305		02/02/17		19,979
	15,000,000	United States Treasury Bill		0.310		02/09/17		14,983
	60,000,000	United States Treasury Bill		0.320 - 0.348		03/02/17		59,918
	50,000,000	United States Treasury Bill		0.369		03/23/17		49,911
		TOTAL TREASURY DEBT						201,866
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						201,866
		TOTAL SHORT-TERM INVESTMENTS						622,857
		(Cost $622,875)
		TOTAL INVESTMENTS - 103.8%						14,176,801
		(Cost $12,269,642)
		OTHER ASSETS & LIABILITIES, NET - (3.8)%						(513,934	)
		NET ASSETS - 100.0%					$	13,662,867

398

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

	Abbreviation(s):
REIT	Real Estate Investment Trust
*	Non-income producing
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $213,976,000.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/16, the aggregate value of these securities was $821,513,000 or 6.0% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
w	All or a portion of these securities have been segregated to cover collateral requirements on mortgage dollar rolls.
	Cost amounts are in thousands.

399

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND

MONEY MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2016

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 99.9%
CERTIFICATE OF DEPOSIT - 0.5%
$	30,000,000		Banco Del Estado De Chile		0.660	%	10/04/16	$	30,000
	25,000,000		Toronto-Dominion Bank		0.000		10/04/16		25,000
			TOTAL CERTIFICATE OF DEPOSIT						55,000
COMMERCIAL PAPER - 5.5%
	20,545,000	y	Apple, Inc		0.420		10/03/16		20,545
	30,000,000	y	Australia & New Zealand Banking Group Ltd		0.690		10/03/16		29,999
	20,000,000	y	Bedford Row Funding Corp		0.670		10/05/16		19,998
	10,770,000	y	Bedford Row Funding Corp		0.570		10/07/16		10,769
	20,000,000	y	Coca-Cola Co		0.650		10/05/16		19,999
	3,500,000	y	Commonwealth Bank of Australia		0.640		10/05/16		3,500
	50,000,000		Exxon Mobil Corp		0.450		10/05/16		49,997
	10,650,000		Exxon Mobil Corp		0.430		10/07/16		10,649
	30,400,000	y	Fairway Finance Co LLC		0.660		10/06/16		30,397
	10,000,000		Korea Development Bank		0.700		10/03/16		10,000
	8,000,000		Korea Development Bank		0.730		10/04/16		7,999
	7,580,000	y	Microsoft Corp		0.460 - 0.480		10/05/16		7,580
	15,000,000	y	Microsoft Corp		0.480		10/06/16		14,999
	25,000,000	y	National Australia Bank Ltd		0.650		10/03/16		24,999
	35,000,000	y	Nestle Capital Corp		0.500 - 0.590		10/04/16		34,998
	21,000,000	y	Novartis Finance Corp		0.470		10/04/16		20,999
	16,500,000	y	Novartis Finance Corp		0.430		10/07/16		16,499
	20,000,000	y	Old Line Funding LLC		0.630		10/04/16		19,999
	24,640,000	y	Private Export Funding Corp		0.560		10/03/16		24,639
	25,000,000	y	Private Export Funding Corp		0.640		10/04/16		24,999
	38,830,000		Province of British Columbia Canada		0.440 - 0.580		10/03/16		38,829
	12,340,000		Province of British Columbia Canada		0.465		10/06/16		12,339
	18,375,000		Province of Ontario Canada		0.450		10/03/16		18,375
	4,050,000	y	Province of Quebec Canada		0.510		10/06/16		4,050
	40,000,000	y	PSP Capital, Inc		0.560 - 0.630		10/06/16		39,997
	25,000,000	y	Roche Holdings, Inc		0.440		10/03/16		24,999
	20,750,000	y	Roche Holdings, Inc		0.440		10/05/16		20,749
	25,000,000	y	Svenska Handelsbanken AB		0.640		10/05/16		24,998
	25,000,000	y	Toronto-Dominion Holdings USA, Inc		0.650		10/07/16		24,997
			TOTAL COMMERCIAL PAPER						612,896
GOVERNMENT AGENCY DEBT - 54.8%
	20,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.330		10/04/16		19,999
	15,000,000		FAMC		0.440		10/05/16		15,000
	47,560,000		FAMC		0.395 - 0.400		10/11/16		47,555
	2,800,000		FAMC		0.350		10/14/16		2,800
	4,000,000		FAMC		0.230		10/24/16		3,999
	10,000,000		FAMC		0.460		11/01/16		9,996
	15,000,000		FAMC		0.460		11/02/16		14,994
	8,200,000		FAMC		0.330 - 0.460		11/03/16		8,197
	5,000,000		FAMC		0.340		11/10/16		4,998

400

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	39,600,000	FAMC		0.010% - 0.510	%	11/18/16	$	39,575
	17,250,000	FAMC		0.520		12/01/16		17,235
	21,235,000	FAMC		0.290		12/09/16		21,223
	20,000,000	FAMC		0.500		12/16/16		19,979
	7,000,000	FAMC		0.280		12/23/16		6,995
	12,700,000	FAMC		0.460		01/17/17		12,682
	25,000,000	FAMC		0.500		02/16/17		24,952
	52,000,000	FAMC		0.510 - 0.520		02/24/17		51,892
	10,000,000	FAMC		0.010		03/06/17		9,978
	13,500,000	FAMC		0.530 - 0.540		03/15/17		13,467
	3,749,000	FAMC		0.520		03/23/17		3,740
	3,555,000	FAMC		0.550		03/24/17		3,546
	25,000,000	FAMC		0.470		04/06/17		24,939
	15,000,000	FAMC		0.570		04/17/17		14,953
	14,500,000	FAMC		0.590		06/15/17		14,500
	50,500,000	Federal Farm Credit Bank (FFCB)		0.250 - 0.510		10/11/16		50,495
	35,000,000	FFCB		0.250		10/12/16		34,997
	27,500,000	FFCB		0.240		10/13/16		27,498
	25,000,000	FFCB		0.240		10/14/16		24,998
	75,000,000	FFCB		0.240 - 0.360		10/18/16		74,990
	20,000,000	FFCB		0.240		10/19/16		19,998
	20,000,000	FFCB		0.250		10/20/16		19,997
	20,000,000	FFCB		0.240		10/21/16		19,997
	26,000,000	FFCB		0.240		10/24/16		25,996
	30,000,000	FFCB		0.230		10/25/16		29,995
	19,750,000	FFCB		0.430		10/26/16		19,744
	20,000,000	FFCB		0.220 - 0.580		10/27/16		19,995
	22,500,000	FFCB		0.390		10/31/16		22,493
	18,000,000	FFCB		0.200		11/01/16		17,997
	17,750,000	FFCB		0.200		11/02/16		17,747
	10,000,000	FFCB		0.190		11/03/16		9,998
	17,000,000	FFCB		0.320 - 0.370		11/04/16		16,994
	22,035,000	FFCB		0.360		11/08/16		22,027
	50,000,000	FFCB		0.520		11/09/16		49,972
	30,710,000	FFCB		0.440 - 0.540		11/10/16		30,694
	28,250,000	FFCB		0.440		11/16/16		28,234
	9,000,000	FFCB		0.310		11/22/16		8,996
	14,869,000	FFCB		0.560 - 0.600		12/06/16		14,853
	15,000,000	FFCB		0.300		12/21/16		14,990
	9,000,000	FFCB		0.440		01/20/17		8,988
	20,000,000	FFCB		0.435		02/02/17		19,970
	21,000,000	Federal Home Loan Bank (FHLB)		0.320 - 0.375		10/05/16		20,999
	49,040,000	FHLB		0.275 - 0.335		10/07/16		49,038
	51,300,000	FHLB		0.305 - 0.370		10/11/16		51,295
	66,908,000	FHLB		0.297 - 0.420		10/12/16		66,901
	39,020,000	FHLB		0.300 - 0.320		10/13/16		39,016
	89,500,000	FHLB		0.225 - 0.380		10/14/16		89,490
	10,152,000	FHLB		0.305 - 0.320		10/17/16		10,151
	43,186,000	FHLB		0.220 - 0.285		10/18/16		43,181
	23,000,000	FHLB		0.250 - 0.360		10/19/16		22,997
	11,594,000	FHLB		0.310 - 0.340		10/20/16		11,592
	89,948,000	FHLB		0.290 - 0.320		10/21/16		89,933
	30,085,000	FHLB		0.230 - 0.310		10/24/16		30,079
	112,190,000	FHLB		0.220 - 0.455		10/25/16		112,168

401

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	78,500,000	FHLB		0.220% - 0.380	%	10/26/16	$	78,481
	65,375,000	FHLB		0.230 - 0.305		10/27/16		65,361
	159,805,000	FHLB		0.208 - 0.450		10/28/16		159,766
	5,000,000	FHLB		0.250		10/31/16		4,999
	55,000,000	FHLB		0.225 - 0.315		11/01/16		54,989
	14,300,000	FHLB		0.300 - 0.310		11/02/16		14,296
	23,000,000	FHLB		0.285 - 0.335		11/03/16		22,993
	104,400,000	FHLB		0.210 - 0.330		11/04/16		104,375
	94,400,000	FHLB		0.230 - 0.335		11/09/16		94,369
	132,025,000	FHLB		0.260 - 0.480		11/14/16		131,974
	49,100,000	FHLB		0.300		11/15/16		49,082
	88,300,000	FHLB		0.295 - 0.510		11/16/16		88,261
	80,191,000	FHLB		0.265 - 0.390		11/18/16		80,156
	23,955,000	FHLB		0.300 - 0.320		11/21/16		23,945
	20,000,000	FHLB		0.250		11/22/16		19,993
	44,700,000	FHLB		0.343		11/23/16		44,677
	10,000,000	FHLB		0.250		11/25/16		9,996
	50,000,000	FHLB		0.395		11/28/16		49,968
	16,085,000	FHLB		0.280		11/29/16		16,078
	54,748,000	FHLB		0.340 - 0.345		11/30/16		54,717
	33,590,000	FHLB		0.345 - 0.347		12/02/16		33,570
	25,000,000	FHLB		0.270		12/05/16		24,988
	20,000,000	FHLB		0.270		12/08/16		19,990
	72,570,000	FHLB		0.280 - 0.355		12/09/16		72,522
	14,000,000	FHLB		0.380		12/14/16		13,989
	17,500,000	FHLB		0.410		12/15/16		17,485
	108,310,000	FHLB		0.340 - 0.473		12/16/16		108,224
	25,000,000	FHLB		0.275		12/19/16		24,985
	69,580,000	FHLB		0.285 - 0.365		12/20/16		69,529
	37,900,000	FHLB		0.260 - 0.270		12/21/16		37,877
	27,180,000	FHLB		0.278		12/23/16		27,163
	17,270,000	FHLB		0.320		12/27/16		17,257
	35,745,000	FHLB		0.280 - 0.370		12/28/16		35,719
	25,000,000	FHLB		0.290		12/30/16		24,982
	8,710,000	FHLB		0.350		01/04/17		8,702
	50,000,000	FHLB		0.265 - 0.295		01/06/17		49,961
	16,515,000	FHLB		0.370		01/09/17		16,498
	30,000,000	FHLB		0.340		01/18/17		29,969
	13,905,000	FHLB		0.430		01/25/17		13,886
	24,883,000	FHLB		0.400		02/22/17		24,843
	4,000,000	Federal Home Loan Mortgage Corp (FHLMC)		0.360		10/03/16		4,000
	15,000,000	FHLMC		0.280		10/04/16		15,000
	60,888,000	FHLMC		0.280 - 0.330		10/06/16		60,885
	45,000,000	FHLMC		0.275 - 0.320		10/07/16		44,998
	61,300,000	FHLMC		0.310 - 0.330		10/17/16		61,291
	47,400,000	FHLMC		0.380 - 0.590		10/19/16		47,390
	18,550,000	FHLMC		0.300		10/20/16		18,547
	62,810,000	FHLMC		0.240 - 0.415		10/21/16		62,796
	2,165,000	FHLMC		0.430		11/02/16		2,164
	49,018,000	FHLMC		0.290 - 0.515		11/04/16		49,000
	19,295,000	FHLMC		0.310 - 0.520		11/07/16		19,286
	59,884,000	FHLMC		0.300 - 0.310		11/08/16		59,865
	40,998,000	FHLMC		0.300 - 0.320		11/15/16		40,982
	20,000,000	FHLMC		0.500 - 0.530		11/16/16		19,987

402

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	18,000,000	FHLMC		0.254% - 0.260	%	11/17/16	$	17,994
	83,960,000	FHLMC		0.275		11/18/16		83,930
	69,300,000	FHLMC		0.310		11/22/16		69,269
	96,830,000	FHLMC		0.230 - 0.245		11/28/16		96,793
	81,709,000	FHLMC		0.310 - 0.320		11/29/16		81,666
	9,433,000	FHLMC		0.320 - 0.540		12/01/16		9,426
	48,250,000	FHLMC		0.305 - 0.370		12/05/16		48,221
	15,155,000	FHLMC		0.335 - 0.350		12/07/16		15,145
	6,165,000	FHLMC		0.470		12/13/16		6,159
	90,590,000	FHLMC		0.285 - 0.360		12/14/16		90,526
	5,300,000	FHLMC		0.360		12/20/16		5,296
	30,000,000	FHLMC		0.345 - 0.380		12/21/16		29,975
	3,167,000	FHLMC		0.260		12/23/16		3,165
	77,500,000	FHLMC		0.355 - 0.440		01/04/17		77,426
	25,163,000	FHLMC		0.500		01/27/17		25,151
	15,000,000	FHLMC		0.440		02/06/17		14,977
	45,000,000	FHLMC		0.450		02/10/17		44,926
	32,450,000	FHLMC		0.460 - 0.470		02/21/17		32,390
	37,000,000	FHLMC		0.875		02/22/17		37,049
	4,000,000	FHLMC		0.480		03/03/17		3,992
	20,000,000	FHLMC		0.530		03/10/17		19,953
	22,000,000	FHLMC		0.490		03/21/17		21,949
	15,000,000	Federal National Mortgage Association (FNMA)		0.295		10/07/16		14,999
	26,000,000	FNMA		0.320		10/11/16		25,998
	23,500,000	FNMA		0.350 - 0.490		10/14/16		23,497
	103,740,000	FNMA		0.265 - 0.455		10/17/16		103,725
	55,455,000	FNMA		0.260 - 0.510		10/18/16		55,445
	79,600,000	FNMA		0.260 - 0.430		10/19/16		79,587
	15,000,000	FNMA		0.430 - 0.480		10/20/16		14,996
	80,000,000	FNMA		0.370 - 0.440		10/24/16		79,980
	80,155,000	FNMA		0.240 - 0.340		10/26/16		80,140
	6,340,000	FNMA		0.530		10/28/16		6,337
	45,730,000	FNMA		0.260 - 0.570		11/01/16		45,717
	95,525,000	FNMA		0.260 - 0.380		11/02/16		95,500
	10,000,000	FNMA		0.535		11/04/16		9,995
	28,120,000	FNMA		0.270 - 0.308		11/09/16		28,111
	9,641,000	FNMA		0.230 - 0.310		11/14/16		9,638
	40,000,000	FNMA		0.220 - 0.300		11/16/16		39,986
	45,215,000	FNMA		0.310 - 0.320		11/23/16		45,194
	34,577,000	FNMA		0.310 - 0.320		12/01/16		34,558
	20,000,000	FNMA		0.320		12/02/16		19,989
	94,714,000	FNMA		0.330 - 0.350		12/07/16		94,654
	36,070,000	FNMA		0.340 - 0.345		12/14/16		36,044
	25,240,000	FNMA		0.250		12/16/16		25,227
	10,000,000	FNMA		0.380		12/19/16		9,992
	60,000,000	FNMA		0.295 - 0.380		12/21/16		59,951
	20,000,000	FNMA		0.360		12/27/16		19,983
	25,000,000	FNMA		0.350		12/28/16		24,979
	12,725,000	FNMA		0.385		01/03/17		12,712
	3,527,000	FNMA		0.350		01/05/17		3,524
	3,928,000	FNMA		0.400		01/20/17		3,923
	27,662,000	FNMA		1.250		01/30/17		27,724
	10,000,000	FNMA		0.410		02/01/17		9,986
	15,000,000	FNMA		0.440 - 0.470		02/15/17		14,974

403

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	20,000,000		FNMA		0.440	%	03/01/17	$	19,963
	3,700,000		FNMA		0.395		03/20/17		3,693
	10,490,000		FNMA		0.430		03/27/17		10,468
			TOTAL GOVERNMENT AGENCY DEBT						6,070,060
TREASURY DEBT - 21.3%
	10,000,000		United States Treasury Bill		0.294		10/06/16		10,000
	70,000,000		United States Treasury Bill		0.300 - 0.395		10/13/16		69,992
	101,190,000		United States Treasury Bill		0.216 - 0.391		10/20/16		101,174
	90,000,000		United States Treasury Bill		0.212 - 0.295		10/27/16		89,984
	120,000,000		United States Treasury Bill		0.247 - 0.384		11/03/16		119,970
	100,000,000		United States Treasury Bill		0.267 - 0.316		11/10/16		99,968
	100,000,000		United States Treasury Bill		0.286 - 0.290		11/17/16		99,962
	20,000,000		United States Treasury Bill		0.300 - 0.436		11/25/16		19,989
	120,000,000		United States Treasury Bill		0.286 - 0.325		12/01/16		119,938
	100,000,000		United States Treasury Bill		0.310 - 0.320		12/08/16		99,940
	100,000,000		United States Treasury Bill		0.181 - 0.321		12/22/16		99,940
	65,000,000		United States Treasury Bill		0.201 - 0.385		12/29/16		64,951
	75,620,000		United States Treasury Bill		0.200 - 0.363		01/05/17		75,565
	50,000,000		United States Treasury Bill		0.186 - 0.391		01/12/17		49,957
	50,000,000		United States Treasury Bill		0.380 - 0.388		01/19/17		49,941
	20,000,000		United States Treasury Bill		0.309		02/02/17		19,979
	15,000,000		United States Treasury Bill		0.320		02/09/17		14,982
	16,775,000		United States Treasury Bill		0.428 - 0.436		02/16/17		16,747
	10,000,000		United States Treasury Bill		0.480		02/23/17		9,981
	25,855,000		United States Treasury Bill		0.366 - 0.502		03/09/17		25,804
	20,000,000		United States Treasury Bill		0.420		03/30/17		19,958
	120,000,000		United States Treasury Note		0.375		10/31/16		119,994
	125,000,000		United States Treasury Note		0.625		11/15/16		125,027
	35,000,000		United States Treasury Note		0.500		11/30/16		35,002
	85,000,000		United States Treasury Note		0.875		11/30/16		85,062
	90,000,000		United States Treasury Note		0.625		12/15/16		90,038
	120,000,000		United States Treasury Note		0.500		01/31/17		120,031
	120,000,000		United States Treasury Note		0.625		02/15/17		120,067
	120,000,000		United States Treasury Note		0.500		02/28/17		120,011
	2,565,000		United States Treasury Note		0.875		02/28/17		2,569
	115,400,000		United States Treasury Note		0.750		03/15/17		115,544
	100,000,000		United States Treasury Note		0.500		03/31/17		100,006
	9,750,000		United States Treasury Note		0.875		05/15/17		9,769
	22,220,000		United States Treasury Note		0.625		05/31/17		22,230
	10,000,000		United States Treasury Note		0.750		06/30/17		10,010
			TOTAL TREASURY DEBT						2,354,082
VARIABLE RATE SECURITIES - 17.8%
	45,000,000	i	Federal Agricultural Mortgage Corp (FAMC)		0.521		11/23/16		45,000
	30,000,000	i	FAMC		0.497		01/03/17		30,000
	45,000,000	i	FAMC		0.723		06/07/17		45,000
	45,000,000	i	FAMC		0.573		08/01/17		45,004
	45,000,000	i	FAMC		0.586		09/06/17		45,000
	14,700,000	i	FAMC		0.651		09/21/17		14,700
	10,000,000	i	Federal Farm Credit Bank (FFCB)		0.538		10/11/16		10,000
	14,500,000	i	FFCB		0.764		12/16/16		14,500
	32,300,000	i	FFCB		0.480		12/30/16		32,294
	22,000,000	i	FFCB		0.440		01/13/17		22,000

404

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	120,000,000	i	FFCB		0.505	%	01/24/17	$	119,998
	10,275,000	i	FFCB		0.394		01/30/17		10,271
	6,000,000	i	FFCB		0.567		02/13/17		5,999
	64,000,000	i	FFCB		0.551		02/23/17		63,992
	76,000,000	i	FFCB		0.525		03/02/17		76,000
	50,000,000	i	FFCB		0.500		03/09/17		49,991
	28,900,000	i	FFCB		0.500		04/10/17		28,901
	14,750,000	i	FFCB		0.600		05/23/17		14,760
	58,300,000	i	FFCB		0.650		05/30/17		58,347
	105,000,000	i	FFCB		0.519		06/15/17		104,995
	50,000,000	i	FFCB		0.530		06/27/17		49,970
	72,000,000	i	FFCB		0.511		07/17/17		71,996
	50,000,000	i	FFCB		0.470		08/04/17		49,992
	69,700,000	i	FFCB		0.587		08/15/17		69,700
	40,000,000	i	FFCB		0.561		01/17/18		39,964
	37,000,000	i	FFCB		0.575		02/02/18		36,945
	3,750,000	i	FFCB		0.758		02/06/18		3,749
	25,000,000	i	FFCB		0.696		02/23/18		24,995
	50,000,000	i	FFCB		0.578		03/22/18		49,926
	25,000,000	i	FFCB		0.620		06/13/18		24,996
	16,500,000	i	Federal Home Loan Bank (FHLB)		0.622		01/30/17		16,499
	60,000,000	i	FHLB		0.669		02/17/17		59,991
	50,000,000	i	FHLB		0.633		02/22/17		50,000
	75,000,000	i	FHLB		0.667		02/23/18		75,014
	9,500,000	i	Federal Home Loan Mortgage Corp (FHLMC)		0.523		01/12/17		9,500
	97,000,000	i	FHLMC		0.532		01/13/17		97,000
	11,300,000	i	FHLMC		0.537		04/20/17		11,297
	30,000,000	i	FHLMC		0.562		04/27/17		29,997
	50,000,000	i	FHLMC		0.666		07/21/17		49,996
	25,000,000	i	FHLMC		0.707		11/13/17		25,000
	45,050,000	i	Federal National Mortgage Association (FNMA)		0.540		01/26/17		45,052
	78,000,000	i	FNMA		0.552		07/20/17		77,955
	94,500,000	i	FNMA		0.540		08/16/17		94,492
	66,140,000	i	FNMA		0.533		10/05/17		66,113
			TOTAL VARIABLE RATE SECURITIES						1,966,891
			TOTAL SHORT-TERM INVESTMENTS						11,058,929
			(Cost $11,058,929)
			TOTAL INVESTMENTS - 99.9%						11,058,929
			(Cost $11,058,929)
			OTHER ASSETS & LIABILITIES, NET - 0.1%						14,553
			NET ASSETS - 100.0%					$	11,073,482

i	Floating or variable rate security. Coupon rate reflects the rate at period end.
y	Security exempt from registration under Section 4(2) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration only to dealers in that program or other “accredited investors.” At 9/30/16, the aggregate value of these securities was $464,708,000 or 4.2% of net assets.
	Cost amounts are in thousands.

405

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

Note 1—organization and significant accounting policies

The purpose of the College Retirement Equities Fund (“CREF”), as stated in its charter, is to aid and strengthen non-profit educational and research organizations, governmental entities, and other non-profit institutions by providing their employees with variable retirement benefits. CREF is registered with the Securities and Exchange Commission (“Commission”) under the Investment Company Act of 1940, as amended (“1940 Act”), as an open-end management investment company. It consists of eight investment portfolios: the Stock, Global Equities, Growth, Equity Index, Bond Market, Inflation-Linked Bond, Social Choice and Money Market Accounts (individually referred to as the “Account” or collectively referred to as the “Accounts”).

The accompanying schedules of investments were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) which may require the use of estimates made by management. Actual results may differ from those estimates. The Accounts are investment companies and follow the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services—Investment Companies. The following is a summary of the significant accounting policies consistently followed by the Accounts.

Security valuation: For all Accounts (other than the Money Market Account), investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the schedule of investments. Investments held by the Money Market Account are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter accreting or amortizing any discount or premium to its face value at a constant rate until maturity.

Investment transactions: Security transactions are accounted for as of the trade date for financial reporting purposes. 

Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day using exchange rates obtained from an independent third party. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.

New rule issuances: 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. 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 to a government money market fund will be effective on October 14, 2016.

In October 2016, the Commission issued Final Rule Release No. 33-10231, Investment Company Reporting Modernization. This final rule modernizes Investment Company reporting by requiring the filing of new forms N-PORT and N-CEN, and amends Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and other filings. The requirements of this final rule in relation to forms N-PORT and N-CEN must be adopted by June 1, 2018, while the amended disclosures must be adopted by August 1, 2017. Management is currently assessing the impact of this rule to the Account’s financial statements and other filings.

In October 2016, the Commission issued Final Rule Release No. 33-10233, Investment Company Liquidity Risk Management Programs. This final rule requires accounts to establish a liquidity risk management program and enhances disclosures regarding accounts liquidity. The requirements of this final rule must be adopted by December 1, 2018. Management is currently assessing the impact of this rule to the Account’s financial statements and other filings.

In October 2016, the Commission issued Final Rule Release No. 33-10234, Investment Company Swing Pricing. This rule permits certain accounts to use swing pricing during periods of heavy redemptions and requires certain disclosures regarding the use of swing pricing in forms filed with the Commission. The requirements of this final rule must be adopted 24 months after publication in the Federal Register. Management is currently assessing the impact of this rule to the Account’s financial statements and other filings.

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)

406

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

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 September 30, 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:

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 at the official close of business of such market or exchange on the valuation date, or if there is no official close of business, the latest sale price, or at the mean of the latest available 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 contracts, 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.

Forward foreign currency contracts: Forward foreign currency contracts are marked-to-market daily and are valued using the prevailing forward exchange rate and are categorized in Level 2 of the fair value hierarchy. 

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

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. 

407

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

Transfers between levels are recognized at the end of the reporting period. For the period ended September 30, 2016, there were no material transfers between levels by the Accounts.

As of September 30, 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 September 30, 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	$	10,282,714		$	4,602,948		$	172	$	14,885,834
Consumer staples		7,046,445			3,608,078			877		10,655,400
Energy		5,710,224			1,965,706			218		7,676,148
Financials		10,076,283			6,524,817			727		16,601,827
Health care		10,730,039			2,883,245			283		13,613,567
Industrials		8,264,139			4,171,935			1,848		12,437,922
Information technology		17,219,702			3,148,323			6		20,368,031
Materials		2,754,350			2,680,326			5,245		5,439,921
Real estate		2,892,374			1,648,260			3,838		4,544,472
Telecommunication services		1,828,781			1,395,734			497		3,225,012
Utilities		2,523,795			998,657			166		3,522,618
Corporate bonds		-			-			450		450
Government bonds		-			308			-		308
Short-term investments		-			4,450,690			-		4,450,690
Purchased options**		1,287			-			-		1,287
Written options**		(2,100	)		-			-		(2,100	)
Futures contracts**		(1,070	)		-			-		(1,070	)
Swap contracts**		-			(1,303	)		-		(1,303	)
Total	$	79,326,963		$	38,077,724		$	14,327	$	117,419,014
Global Equities
Equity investments:
Asia	$	16,780		$	1,602,883		$	-	$	1,619,663
Australasia		27,153			300,774			2		327,929
Europe		78,329			3,178,896			-		3,257,225
North America		10,773,236			581,993			-		11,355,229
All other equity investments*		208,791			1,362,925			72		1,571,788
Short-term investments		-			483,761			-		483,761
Purchased options**		3,101			-			-		3,101
Written options**		(2,253	)		-			-		(2,253	)
Futures contracts**		(164	)		-			-		(164	)
Total	$	11,104,973		$	7,511,232		$	74	$	18,616,279

408

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

Account	Level 1			Level 2		Level 3		Total
Growth
Equity investments:
Consumer discretionary	$	4,532,378		$	157,646	$	-	$	4,690,024
Consumer staples		1,523,467			42,143		-		1,565,610
Health care		3,299,799			45,043		-		3,344,842
Information technology		7,471,439			107,710		-		7,579,149
All other equity investments *		4,122,683			-		-		4,122,683
Short-term investments		468,503			173,328		-		641,831
Futures contracts**		(17	)		-		-		(17	)
Total	$	21,418,252		$	525,870	$	-	$	21,944,122
Equity Index
Equity investments:
Financials	$	2,258,779		$	-	$	72	$	2,258,851
Health care		2,346,411			1,147		16		2,347,574
Industrials		1,763,773			-		119		1,763,892
Telecommunication services		409,124			-		118		409,242
All other equity investments *		10,075,002			-		-		10,075,002
Short-term investments		512,007			54,269		-		566,276
Futures contracts**		67			-		-		67
Total	$	17,365,163		$	55,416	$	325	$	17,420,904
Bond Market
Bank loan obligations	$	-		$	83,425	$	-	$	83,425
Corporate bonds		-			5,041,931		-		5,041,931
Government bonds		-			6,442,149		-		6,442,149
Structured assets		-			2,274,688		7,698		2,282,386
Preferred stocks		6,998			-		-		6,998
Short-term investments		-			1,034,663		-		1,034,663
Forward foreign currency contracts**		(124	)		-		-		(124	)
Total	$	6,874		$	14,876,856	$	7,698	$	14,891,428
Social Choice
Equity investments:
Consumer discretionary	$	712,553		$	301,804	$	-	$	1,014,357
Consumer staples		472,026			247,398		-		719,424
Energy		407,592			140,905		-		548,497
Financials		794,345			529,692		-		1,324,037
Health care		836,326			272,948		-		1,109,274
Industrials		559,178			342,883		-		902,061
Information technology		1,152,332			122,627		-		1,274,959
Materials		232,926			198,877		-		431,803
Real estate		253,340			95,376		-		348,716
Telecommunication services		121,735			119,052		-		240,787
Utilities		173,015			110,578		-		283,593
Bank loan obligations		-			59,243		-		59,243
Corporate bonds		-			1,513,499		-		1,513,499
Government bonds		-			3,278,070		-		3,278,070
Structured assets		-			505,198		426		505,624
Short-term investments		-			622,857		-		622,857
Total	$	5,715,368		$	8,461,007	$	426	$	14,176,801

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

409

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

Note 3—derivative instruments

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

Futures contracts: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures contracts, there is minimal counterparty credit risk to the Accounts since futures contracts are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures contracts against default.

At September 30, 2016, the Accounts held the following open futures contracts (dollar amounts are in thousands):

Account	Futures contracts	Number of long (short) contracts		Settlement value		Expiration date	Unrealized gain (loss)
Stock	S&P 500 Index E-Mini		1,506	$	162,678	December 2016	$	(784	)
	S&P Mid-Cap 400 E-Mini		129		19,990	December 2016		(247	)
	Russell 2000 Mini Index		121		15,104	December 2016		(39	)
Total			1,756	$	197,772		$	(1,070	)
Global Equities	S&P 500 Index E-Mini		449		48,501	December 2016		(164	)
Growth	S&P 500 Index E-Mini		1,300		140,426	December 2016		(17	)
Equity Index	S&P 500 Index E-Mini		433		46,773	December 2016		67

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. 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 September 30, 2016 were as follows (dollar amounts are in thousands):

	Number of contracts		Value
Stock Account
Chipotle Mexican Grill, Inc, Call, 1/19/18 at $500		3	$	10
Ciena Corp, Call, 1/20/17 at $25		180		14
Coty, Inc, Call, 10/21/16 at $38		626		3
Humana, Inc, Call, 1/20/17 at $200		10		6
Humana, Inc, Put, 1/20/17 at $135		10		1
Johnson & Johnson, Call, 1/20/17 at $135		30		-
Monsanto Co, Call, 1/19/18 at $120		20		6
S&P 500 Index, Call, 12/16/16 at $2225		145		252
S&P 500 Index, Put, 12/16/16 at $2050		425		994
salesforce.com, Inc, Call, 10/7/16 at $74.50		50		1
Total		1,499	$	1,287
Global Equities Account
S&P 500 Index, Put, 12/16/16 at $2050		1,325	$	3,101
Total		1,325	$	3,101

410

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

Written options outstanding as of September 30, 2016 were as follows (dollar amounts are in thousands):

	Number of Contracts		Value
Stock Account
Air Products & Chemicals, Inc, Put, 10/21/16 at $135		10	$	-
Best Buy Co, Inc, Call, 10/21/16 at $40		15		-
Best Buy Co, Inc, Put, 10/21/16 at $35		15		-
Best Buy Co, Inc, Call, 12/16/16 at $40		10		(1	)
Chipotle Mexican Grill, Inc, Put, 1/20/17 at $380		2		(2	)
Chipotle Mexican Grill, Inc, Call, 1/20/17 at $540		12		(3	)
Chipotle Mexican Grill, Inc, Put, 1/20/17 at $370		1		(1	)
Chipotle Mexican Grill, Inc, Call, 1/19/18 at $600		3		(4	)
Ciena Corp, Call, 1/20/17 at $28		360		(10	)
Coty, Inc, Put, 10/21/16 at $38		626		(914	)
Fitbit, Inc, Put, 10/28/16 at $12		25		-
Humana, Inc, Put, 1/20/17 at $115		20		(2	)
Humana, Inc, Call, 1/20/17 at $220		10		(2	)
Humana, Inc, Put, 1/20/17 at $140		10		(2	)
Johnson & Johnson, Call, 1/20/17 at $140		30		-
Johnson & Johnson, Put, 1/20/17 at $110		10		(2	)
Level 3 Communications, Inc, Put, 10/21/16 at $41		25		-
Micron Technology, Inc, Put, 10/7/16 at $15		30		-
Monsanto Co, Put, 10/21/16 at $90		10		-
Monsanto Co, Put, 1/19/18 at $80		20		(6	)
Monsanto Co, Call, 1/19/18 at $130		20		(1	)
S&P 500 Index, Call, 12/16/16 at $2300		100		(22	)
S&P 500 Index, Put, 12/16/16 at $1800		53		(27	)
S&P 500 Index, Put, 12/16/16 at $2000		425		(723	)
S&P 500 Index, Call, 12/16/16 at $2275		125		(62	)
S&P 500 Index, Put, 12/16/16 at $1975		80		(119	)
S&P 500 Index, Call, 12/16/16 at $2350		50		(2	)
S&P 500 Index, Call, 12/16/16 at $2325		150		(17	)
S&P 500 Index, Call, 12/16/16 at $2250		165		(175	)
salesforce.com, Inc, Call, 10/7/16 at $75		50		(1	)
Vertex Pharmaceuticals, Inc, Put, 10/21/16 at $77.50		10		(1	)
Viacom, Inc, Put, 10/21/16 at $35		20		(1	)
Wells Fargo & Co, Put, 10/7/16 at $42		10		-
Total		2,502	$	(2,100	)
Global Equities Account
S&P 500 Index, Put, 12/16/16 at $2000		1,325	$	(2,253	)
Total		1,325	$	(2,253	)

Forward foreign currency contracts: Certain Accounts are subject to foreign exchange risk in the normal course of pursuing their investment objectives. The Accounts use forward foreign currency contracts (“forwards”), including Non-Deliverable forwards (“NDFs”), to, among other things, hedge portfolio currency risk and to facilitate transactions in securities denominated in foreign currencies. Forwards are over-the-counter (“OTC”) commitments that involve an obligation to purchase or sell a fixed amount of a specific currency on a future date at a locked exchange rate. NDFs allow hedging of currencies where government regulations restrict foreign access to local currency or the parties want to compensate for risk without a physical exchange of funds. Forwards are marked-to-market daily at the applicable foreign exchange rate, and any resulting unrealized gains or losses are recorded as appreciation or depreciation. The Accounts realize gains and losses at the time the forward is closed.

411

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

At September 30, 2016, the CREF Bond Market Account held the following open forward contracts (dollar amounts are in thousands):

Account	Counterparty	Contract settlement date	Receive		Deliver		Unrealized appreciation (depreciation)
Bond Market	Bank of America	10/31/2016	$	9,292	AUD	12,147	$	2
	Bank of America	10/31/2016	EUR	5,323	$	5,968		20
	Bank of America	10/31/2016	$	1,622	EUR	1,450		(8	)
	Bank of America	10/31/2016	$	34,898	JPY	3,508,568		254
	Bank of America	10/31/2016	$	1,969	MXN	38,542		(11	)
	Bank of America	10/31/2016	$	1,058	NZD	1,462		(5	)
	Bank of America	10/31/2016	PLN	3,749	$	975		5
	Bank of America	10/31/2016	$	1,708	ZAR	23,470		7
	Bank of America	10/31/2016	$	1,785	THB	61,800		3
	Total						$	267
	Morgan Stanley	10/31/2016	$	41,103	CAD	54,041		-
	Morgan Stanley	10/31/2016	$	10,317	CAD	13,661		(98	)
	Morgan Stanley	10/31/2016	$	1,265	DKK	8,405		(5	)
	Morgan Stanley	10/5/2016	EUR	1,410	$	1,581		3
	Morgan Stanley	10/31/2016	EUR	2,899	$	3,263		(2	)
	Morgan Stanley	10/31/2016	$	87,512	EUR	78,067		(311	)
	Morgan Stanley	10/31/2016	$	341	EUR	304		(1	)
	Morgan Stanley	10/31/2016	$	1,504	EUR	1,339		(3	)
	Morgan Stanley	11/2/2016	$	1,090	HUF	300,000		(5	)
	Morgan Stanley	10/31/2016	$	5,534	MYR	22,953		(23	)
	Morgan Stanley	10/31/2016	$	1,887	NOK	15,289		(26	)
	Morgan Stanley	10/31/2016	$	978	PLN	3,749		(3	)
	Morgan Stanley	10/31/2016	GBP	1,156	$	1,517		(17	)
	Morgan Stanley	10/31/2016	$	26,589	GBP	20,434		87
	Morgan Stanley	10/31/2016	$	661	SGD	900		1
	Morgan Stanley	10/31/2016	$	7,934	KRW	8,712,076		28
	Morgan Stanley	10/31/2016	$	5,023	SEK	43,162		(16	)
	Total						$	(391	)
	Total						$	(124	)

Abbreviation(s):

AUD	Australian Dollar
CAD	Canadian Dollar
DKK	Danish Krone
EUR	Euro
GBP	Pound Sterling
HUF	Hungarian Forint
JPY	Japanese Yen
KRW	Korean Won
MXN	Mexican Peso
MYR	Malaysian Ringgit
NOK	Norwegian Krone
NZD	New Zealand Dollar
PLN	Polish Zloty
SEK	Swedish Krona
SGD	Singapore Dollar
THB	Thailand Baht
ZAR	South African Rand

412

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

Total return swap contracts: Total return swaps are agreements that provide an Account with a return based on the performance of an underlying asset, in exchange for fee payments to a counterparty based on a specific rate. To the extent the total return of the reference security or index underlying the total return swap exceeds or falls short of the offsetting interest rate obligation, the Account will receive a payment or make a payment to the counterparty, respectively. Total return swaps are exposed to the market risk factor of the specific underlying financial instrument or index. Additional risks to the Account include the possibility that there is no liquid market for these agreements or that the counterparty may default on its obligation to perform. The Account’s maximum loss from counterparty risk is the fair value of the contract. Certain Accounts may invest in total return swaps to gain or mitigate exposure to the underlying reference assets.

At September 30, 2016, the CREF Stock Account held the following open total return swap contracts (dollar amounts are in thousands): 

				Fixed payments		Total return
				paid		received	Unrealized
	Notional		Termination	by account		by or paid	appreciation/
Counterparty	Amount		Date	per annum		by account	depreciation
Goldman Sachs		35,660	10/21/2016		0.25%	Difference between Custom Basket 1 as specified in contract and Custom Basket 2 as specified in contract	$	(1,303	)

Note 4—affiliated investments

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

Issue	Value at December 31, 2015			Purchase cost		Sales proceeds		Realized gain (loss)		Dividend income		Shares at September 30, 2016			Value at September 30, 2016
Stock Account
Container Store Group, Inc	$	-	*	$	17,757	$	6,901	$	1,599	$	-		3,043,601		$	15,279
Olin Corp		165,438			82,377		117,662		10,580		4,896		-	**		-	**
	$	165,438		$	100,134	$	124,563	$	12,179	$	4,896				$	15,279
Growth Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	533,631		$	50,060	$	583,691	$	-	$	-		-	**	$	-	**
Equity Index Account
TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust	$	572,035		$	124,059	$	696,094	$	-	$	-		-	**	$	-	**

*	Not an affiliate investment as of December 31, 2015.
**	Not an affiliate investment as of September 30, 2016.

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. The value of the loaned securities are reflected in the schedule of investments. As of September 30, 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 $181,998,000 of equity securities pledged as collateral and $31,978,000 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.

413

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

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

Securities purchased on a when-issued or delayed-delivery basis: The Accounts may purchase securities on a when-issued or delayed-delivery basis. Securities purchased or sold on a when-issued or delayed-delivery basis may be settled a month or more after trade date; interest income is not accrued until settlement date. At the time an Account enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.

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

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 September 30, 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):

	Gross		Gross			Net unrealized
	unrealized		unrealized			appreciation
Account	appreciation		(depreciation)			(depreciation)
Stock	$	13,339,057	$	(4,216,223	)	$	9,122,834
Global Equities		1,772,563		(594,034	)		1,178,529
Growth		4,066,777		(421,538	)		3,645,239
Equity Index		8,320,535		(585,353	)		7,735,182
Bond Market		438,444		(90,266	)		348,178
Inflation-Linked Bond		433,566		(15,185	)		418,381
Social Choice		2,249,749		(342,590	)		1,907,159

Note 6—Subsequent event

On October 14, 2016, the Money Market account was converted to a “government money market fund” and now invests at least 99.5% of its total assets in cash, U.S. Government securities and/or repurchase agreements that are collateralized fully by cash or U.S. Government Securities. As a result, the yield on the Account may be lower than the yield of accounts that invest in longer-term or lower quality securities.

414

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
Dated:  November 14, 2016	By:	/s/ Robert G. Leary
		Robert G. Leary
		Principal Executive Officer and
		Executive Vice President

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

Dated:  November 14, 2016	By:	/s/ Robert G. Leary
		Robert G. Leary
		Principal Executive Officer and
		Executive Vice President
		(principal executive officer)
Dated: November 14, 2016	By:	/s/ Virginia M. Wilson
		Virginia M. Wilson
		Executive Vice President,
		Chief Financial Officer and
		Principal Accounting Officer
		(principal financial officer)

EXHIBIT LIST

Item 3. Exhibits.

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

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