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.

College Retirement Equities Fund

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, 2017

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2017

							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		15.000	%	04/23/17	$	396
			TOTAL DIVERSIFIED FINANCIALS						396
			TOTAL CORPORATE BONDS						396
			(Cost $466)
GOVERNMENT BONDS -  0.0%
U.S. TREASURY SECURITIES - 0.0%
	300,000		United States Treasury Note		1.750		05/15/22		298
			TOTAL U.S. TREASURY SECURITIES						298
			TOTAL GOVERNMENT BONDS						298
			(Cost $302)
			TOTAL BONDS						694
			(Cost $768)
SHARES			COMPANY
COMMON STOCKS - 99.3%
AUTOMOBILES & COMPONENTS - 1.9%
	162,085		Actron Technology Corp						552
	337,774		Adient plc						28,370
	117,800		Aisan Industry Co Ltd						1,133
	909,948		Aisin Seiki Co Ltd						47,975
	59,700		Akebono Brake Industry Co Ltd						204
	158,718	*	American Axle & Manufacturing Holdings, Inc						2,790
	730,899		Apollo Tyres Ltd						2,756
	51,670		ARB Corp Ltd						702
	20,351		Asahi India Glass Ltd						119
	3,582	e	Autoliv, Inc						443
	8,461		Autoneum Holding AG.						2,366
	126,003		Bajaj Holdings and Investment Ltd						6,001
	25,982		Balkrishna Industries Ltd						679
	363,658		Bayerische Motoren Werke AG.						36,909
	4,932		Bayerische Motoren Werke AG. (Preference)						440
	193,327	*	Bharat Forge Ltd						1,746
	193,327	m	Bharat Forge Ltd						1,746
	717,585		BorgWarner, Inc						36,762
	11,311		Bosch Ltd						3,562
	263,805		Brembo S.p.A						4,466

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	695,689		Bridgestone Corp	$	31,587
	3,054,135		Brilliance China Automotive Holdings Ltd		8,159
	1,157,563	e	Byd Co Ltd		10,979
	22,000		Cayman Engley Industrial Co Ltd		128
	72,591		Ceat Ltd		1,909
	453,000		Chaowei Power Holdings Ltd		263
	1,911,251		Cheng Shin Rubber Industry Co Ltd		3,829
	1,902,000	*	China First Capital Group Ltd		764
	1,494,000		China Motor Corp		1,319
	4,034,057		Chongqing Changan Automobile Co Ltd		5,335
	135,778		Cie Automotive S.A.		3,627
	180,429		Compagnie Plastic-Omnium S.A.		7,718
	65,833		Continental AG.		16,720
	102,480	e	Cooper Tire & Rubber Co		3,833
	142,400	*	Cooper-Standard Holding, Inc		16,514
	26,865		Cub Elecparts, Inc		317
	27,400		Daido Metal Co Ltd		245
	97,700		Daikyonishikawa Corp		1,574
	939,861		Daimler AG. (Registered)		75,024
	300,669		Dana Holding Corp		8,407
	1,414,084		Delphi Automotive plc		139,146
	420,901		Denso Corp		21,302
	53,000		Depo Auto Parts Ind Co Ltd		140
	182,359	g	Dometic Group AB		1,553
	12,508		Dong Ah Tire & Rubber Co Ltd		264
	11,951,787		Dongfeng Motor Group Co Ltd		15,860
	52,740	*	Dorman Products, Inc		3,777
	519,800		Drb-Hicom BHD		201
	171,500		Eagle Industry Co Ltd		3,149
	6,762	e	EDAG Engineering Group AG.		106
	17,142	e	ElringKlinger AG.		319
	5,510	g	Endurance Technologies Ltd		84
	96,182		Exedy Corp		2,931
	358,878		Exide Industries Ltd		1,134
	551,347		Faurecia		38,261
	23,800		FCC Co Ltd		530
	68,882		Ferrari NV		7,622
	3,013,562	*	Fiat DaimlerChrysler Automobiles NV		54,007
	8,343,178		Ford Motor Co		99,868
	58,776		Ford Otomotiv Sanayi AS		752
	66,506	*	Fox Factory Holding Corp		2,866
	287,936		Fuji Heavy Industries Ltd		10,385
	160,997		Futaba Industrial Co Ltd		1,813
	588,800	g	Fuyao Glass Industry Group Co Ltd		2,144
	7,540,202		Geely Automobile Holdings Ltd		21,412
	24,057,000	*,†,m	General Motors Co		0
	4,230,271	*,†,m	General Motors Co		0
	26,439,191	*,†,m	General Motors Co		0
	6,062,000	*,†,m	General Motors Co		0
	85,268,000	*,†,e,m	General Motors Co		0
	7,950,000	*,†,m	General Motors Co		0
	18,507,434	*,†,m	General Motors Co		0
	35,983,677	*,†,m	General Motors Co		0
	40,684,487	*,†,m	General Motors Co		0
	722,689	*,†,e,m	General Motors Co		0
	3,458,362		General Motors Co		139,649

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	936,548		Gentex Corp	$	18,544
	69,370	*	Gentherm, Inc		2,577
	1,795,972		GKN plc		8,322
	29,046		Global & Yuasa Battery Co Ltd		905
	25,000		Global PMX Co Ltd		163
	64,461		Goodyear Lastikleri Turk AS.		80
	794,566		Goodyear Tire & Rubber Co		26,419
	40,307	e	Grammer AG.		2,630
	3,183,689	e	Great Wall Motor Co Ltd		3,940
	29,100		G-Tekt Corp		601
	12,698,861		Guangzhou Automobile Group Co Ltd		29,526
	6,304		Halla Holdings Corp		347
	49,732		Hanil E-Hwa Co Ltd		453
	72,568		Hankook Tire Co Ltd		3,821
	187,174		Hanon Systems		2,064
	409,013	e	Harley-Davidson, Inc		19,719
	95,807		Hero Honda Motors Ltd		5,545
	23,000		Hiroca Holdings Ltd		87
	1,652,636		Honda Motor Co Ltd		48,820
	50,774	*,e	Horizon Global Corp		896
	145,990		Hota Industrial Manufacturing Co Ltd		690
	55,199		Hu Lane Associate, Inc		311
	65,900	*	Hunan Tyen Machinery Co Ltd		36
	14,260,000	*,†,e,m	Hybrid Kinetic Group Ltd		178
	68,555		Hyundai Mobis		14,394
	155,303		Hyundai Motor Co		20,430
	34,774		Hyundai Motor Co Ltd (2nd Preference)		3,117
	22,468		Hyundai Motor Co Ltd (Preference)		1,839
	17,306	e	Hyundai Wia Corp		988
	13,000		Indus Motor Co Ltd		213
	24,000		Iron Force Industrial Co Ltd		106
	398,295		Isuzu Motors Ltd		5,281
	432,634		JK Tyre & Industries Ltd		974
	134,500		Kasai Kogyo Co Ltd		2,041
	78,390		Kayaba Industry Co Ltd		4,744
	169,600		Keihin Corp		2,904
	925,399		Kenda Rubber Industrial Co Ltd		1,305
	269,144		Kia Motors Corp		7,446
	70,536		Koito Manufacturing Co Ltd		4,429
	258,498	*	Kongsberg Automotive ASA		304
	60,559		Kordsa Teknik Tekstil AS.		121
	58,515		Korea Autoglass Corp		929
	74,634	*	Kumho Tire Co, Inc		390
	125,500		Launch Tech Co Ltd		149
	46,368		LCI Industries, Inc		5,372
	458,730		Lear Corp		79,397
	22,694		Leoni AG.		1,506
	31,628		Linamar Corp		1,930
	26,000		Macauto Industrial Co Ltd		147
	639,386	*	Magna International, Inc		34,123
	587,848		Mahindra & Mahindra Ltd		11,302
	59,035	*	Mahindra CIE Automotive Ltd		217
	29,700		Mahle-Metal Leve S.A. Industria e Comercio		187
	26,294		Mando Corp		5,859
	62,842		Martinrea International, Inc		571
	181,655		Maruti Suzuki India Ltd		22,226

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	716,899		Mazda Motor Corp	$	10,983
	318,962		Metair Investments Ltd		429
	42,000		MGI Coutier		1,857
	300,929		Michelin (C.G.D.E.) (Class B)		43,906
	738,000		Minth Group Ltd		3,878
	18,600		Mitsuba Corp		288
	562,917		Mitsubishi Motors Corp		4,457
	182,244	*	Modine Manufacturing Co		3,508
	1,052,894		Motherson Sumi Systems Ltd		5,433
	36,384	*	Motorcar Parts of America, Inc		1,072
	17,100		Musashi Seimitsu Industry Co Ltd		534
	373,949		Nan Kang Rubber Tire Co Ltd		334
	123,813		Nexen Tire Corp		1,434
	2,377,000		Nexteer Automotive Group Ltd		4,098
	916,744		NGK Spark Plug Co Ltd		19,524
	530,000		NHK Spring Co Ltd		5,716
	130,151		Nifco, Inc		7,952
	132,000		Nippon Seiki Co Ltd		2,696
	3,463,492		Nissan Motor Co Ltd		34,312
	194,541		Nissan Shatai Co Ltd		2,149
	24,500	e	Nissin Kogyo Co Ltd		439
	118,439		NOK Corp		2,649
	339,760		Nokian Renkaat Oyj		15,118
	361,200		Pacific Industrial Co Ltd		4,822
	2,063,683		Peugeot S.A.		49,126
	712,190		Piaggio & C S.p.A.		2,231
	16,900		Piolax Inc		479
	76,645		Porsche AG.		4,904
	80,400		Press Kogyo Co Ltd		440
	20,274,607		PT Astra International Tbk		11,903
	154,576		Pyeong Hwa Automotive Co Ltd		1,339
	7,784,000		Qingling Motors Co Ltd		2,546
	298,700		Rassini SAB de C.V.		1,241
	1,008,465		Renault S.A.		99,089
	19,100		Riken Corp		984
	40,295		S&T Daewoo Co Ltd		1,693
	123,589		SAF-Holland S.A.		2,513
	23,400		Sanden Corp		465
	415,920		Sanyang Industry Co Ltd		292
	275,554		Schaeffler AG.		4,446
	58,296	*	Shiloh Industries, Inc		606
	31,700		Showa Corp		390
	66,468		SL Corp		1,079
	42,932	*,e	Sogefi S.p.A.		261
	146,244		Spartan Motors, Inc		1,616
	606,900		Sri Trang Agro-Industry PCL (Foreign)		232
	32,075	*	Ssangyong Motor Co		145
	140,148		Standard Motor Products, Inc		6,762
	150,287		Stanley Electric Co Ltd		5,155
	95,069	*	Stoneridge, Inc		1,883
	542,225		Sumitomo Electric Industries Ltd		8,864
	91,673		Sumitomo Rubber Industries, Inc		1,683
	32,410		Sundram Fasteners Ltd		219
	26,548		Sungwoo Hitech Co Ltd		141
	145,408		Superior Industries International, Inc		2,421
	342,503		Suzuki Motor Corp		17,976

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	179,865		T RAD Co Ltd	$	6,969
	18,400		Tachi-S Co Ltd		341
	19,400		Taiho Kogyo Co Ltd		295
	1,888,105		Tata Motors Ltd		11,636
	18,100		Teikoku Piston Ring Co Ltd		608
	151,627		Tenneco, Inc		9,199
	297,781	*,e	Tesla, Inc		101,573
	194,900		Thor Industries, Inc		24,540
	103,912		TI Financial Holdings Ltd		897
	4,986,000		Tianneng Power International Ltd		5,166
	105,713		Tofas Turk Otomobil Fabrik		916
	31,863		Tokai Rika Co Ltd		630
	23,600		Tokai Rubber Industries, Inc		238
	900,699		Tong Yang Industry Co Ltd		1,842
	97,000		Topre Corp		2,982
	56,079		Tower International, Inc		1,525
	62,800		Toyo Tire & Rubber Co Ltd		1,413
	50,715		Toyoda Gosei Co Ltd		1,199
	190,500		Toyota Boshoku Corp		4,039
	194,341		Toyota Industries Corp		11,177
	4,619,447		Toyota Motor Corp		275,450
	194,000		TS Tech Co Ltd		6,523
	40,089		Tung Thih Electronic Co Ltd		263
	204,200		Tupy S.A.		1,148
	123,679		TVS Motor Co Ltd		1,246
	727,000		TYC Brother Industrial Co Ltd		776
	421,241	*	UMW Holdings BHD		554
	167,300		Unipres Corp		4,655
	198,388		Valeo S.A.		14,721
	218,514	*	Visteon Corp		27,045
	53,564		Volkswagen AG.		9,060
	24,314		Volkswagen AG. (Preference)		3,969
	40,878	*	VOXX International Corp (Class A)		350
	7,278		WABCO India Ltd		667
	116,461		Winnebago Industries, Inc		5,212
	4,178,247		Xingda International Holdings Ltd		1,575
	11,020,785		Xinyi Glass Holdings Co Ltd		10,923
	2,480,000	g	Yadea Group Holdings Ltd		925
	138,972		Yamaha Motor Co Ltd		4,160
	32,600		Yokohama Rubber Co Ltd		672
	200,600		Yorozu Corp		4,293
	683,187		Yulon Motor Co Ltd		585
	174,000		Zhejiang Shibao Co Ltd		66
			TOTAL AUTOMOBILES & COMPONENTS		2,331,597
BANKS - 9.0%
	30,208		1st Source Corp		1,535
	194,207		77 Bank Ltd		4,807
	35,344		Aareal Bank AG.		1,498
	1,511,405	g	ABN AMRO Group NV (ADR)		45,258
	4,240,502		Abu Dhabi Commercial Bank PJSC		8,211
	27,078	e	Access National Corp		776
	13,102		ACNB Corp		363
	76,681,649		Agricultural Bank of China		34,518
	13,200		Aichi Bank Ltd		805
	5,074,269		Akbank TAS		13,391

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,700		Akita Bank Ltd	$	871
	1,328,382		Albaraka Turk Katilim Bankasi AS		525
	644,667	*	Aldermore Group plc		1,992
	80,503	*	Alior Bank S.A.		1,511
	119,504	*	Allahabad Bank		120
	22,880	*	Allegiance Bancshares, Inc		842
	988,056		Alliance Financial Group BHD		913
	9,283,570	e	Allied Irish Banks plc		55,794
	1,421,236	*	Alpha Bank AE		2,817
	315,270	*,†,m	Amagerbanken AS		0
	16,396		American National Bankshares, Inc		676
	68,741		Ameris Bancorp		3,300
	17,001	e	Ames National Corp		507
	468,565	*	Amlak Finance PJSC		135
	3,334,138		AMMB Holdings BHD		3,447
	373,488		Andhra Bank		321
	12,300		Aomori Bank Ltd		430
	183,366		Aozora Bank Ltd		6,981
	26,922		Arrow Financial Corp		925
	5,744	*,e	ASB Bancorp, Inc		259
	1,404,700		Ashikaga Holdings Co Ltd		5,435
	138,128		Associated Banc-Corp		3,350
	177,903		Astoria Financial Corp		3,825
	37,645	*	Atlantic Capital Bancshares, Inc		683
	1,970,718		Australia & New Zealand Banking Group Ltd		45,905
	109,721		Awa Bank Ltd		724
	1,633,620		Axis Bank Ltd		12,754
	83,200	e	Banc of California, Inc		1,726
	413,715	*,e	Banca Carige S.p.A		113
	36,196,221		Banca Intesa S.p.A.		128,146
	3,120,123		Banca Intesa S.p.A. RSP		10,339
	21,184	*,†,m	Banca Monte dei Paschi di Siena S.p.A		283
	1,990,059		Banca Popolare dell'Emilia Romagna Scrl		11,924
	280,386		Banca Popolare di Sondrio SCARL		1,208
	31,702		Bancfirst Corp		1,799
	655,264		Banche Popolari Unite Scpa		3,405
	628,062		Banco ABC Brasil S.A.		3,498
	22,522	*	Banco ABC Brasil S.A. (ADR)		123
	3,352,336		Banco Bilbao Vizcaya Argentaria S.A.		29,971
	1,002,053		Banco BPM S.p.A		4,168
	1,503,157	*	Banco Bradesco S.A.		15,852
	4,198,202	*	Banco Bradesco S.A. (Preference)		46,460
	7,239,653	*	Banco Comercial Portugues S.A.		2,101
	21,896,964		Banco de Chile		3,340
	75,148		Banco de Credito e Inversiones		4,753
	1,745,540		Banco de Oro Universal Bank		4,496
	1,057,589		Banco de Sabadell S.A.		2,211
	1,436,232		Banco do Brasil S.A.		15,826
	618,100		Banco do Estado do Rio Grande do Sul		3,443
	16,063,377	*,†,m	Banco Espirito Santo S.A.		190
	58,200	*,†,m	Banco Industrial e Comercial S.A.		153
	5,285,365		Banco Itau Holding Financeira S.A.		72,343
	58,194		Banco Latinoamericano de Exportaciones S.A. (Class E)		1,713
	1,306,548		Banco Santander Brasil S.A.		11,402
	66,213,916		Banco Santander Chile S.A.		4,923

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,132,469		Banco Santander S.A.	$	175,798
	572,747	*	BanColombia S.A.		6,385
	1,004,655		BanColombia S.A. (Preference)		11,557
	242,010		Bancorpsouth, Inc		7,756
	175,400		Bangkok Bank PCL (ADR)		982
	226,200		Bangkok Bank PCL (Foreign)		1,325
	22,652		Bank Handlowy w Warszawie S.A.		429
	1,890,606		Bank Hapoalim Ltd		13,230
	2,172,056		Bank Leumi Le-Israel		11,543
	478,306	*	Bank Millennium S.A.		920
	102,431		Bank Mutual Corp		1,040
	43,315,049		Bank of America Corp		1,097,603
	123,216,472		Bank of China Ltd		61,204
	1,034,500	e	Bank of Chongqing Co Ltd		844
	31,763		Bank of Commerce Holdings		365
	22,167,946		Bank of Communications Co Ltd		16,272
	1,055,011	e	Bank of East Asia Ltd		4,573
	107,333		Bank of Georgia Holdings plc		4,687
	70,504		Bank of Hawaii Corp		5,877
	3,099,727	*	Bank of Ireland Group plc		25,389
	9,300		Bank of Iwate Ltd		376
	516,000		Bank of Kaohsiung		158
	576,797	e	Bank of Kyoto Ltd		29,359
	11,334		Bank of Marin Bancorp		776
	919,847	*	Bank of Montreal		69,614
	7,899	e	Bank of Nagoya Ltd		311
	1,759,290		Bank of Nova Scotia		113,080
	380,845		Bank of NT Butterfield & Son Ltd		13,954
	64,100		Bank of Okinawa Ltd		2,581
	256,212		Bank of Queensland Ltd		2,615
	23,154		Bank of Saga Ltd		560
	258,209		Bank of the Ozarks, Inc		12,407
	1,048,109		Bank of the Philippine Islands		2,052
	140,900		Bank of the Ryukyus Ltd		2,182
	150,560		Bank Pekao S.A.		5,287
	10,913,771		Bank Rakyat Indonesia		12,391
	31,487		Bank Zachodni WBK S.A.		3,017
	59,077		BankFinancial Corp		939
	764,487		Bankia S.A.		3,691
	279,408		Bankinter S.A.		2,646
	199,489		BankUnited		7,096
	13,026		Bankwell Financial Group, Inc		481
	97,944		Banner Corp		6,002
	2,195		Banque Cantonale Vaudoise		1,632
	503,500		Banregio Grupo Financiero SAB de C.V.		2,998
	27,721		Bar Harbor Bankshares		869
	918,083		Barclays Africa Group Ltd		9,423
	18,557,629		Barclays plc		48,120
	1,322,494		BB&T Corp		62,078
	358,820	e	BBVA Banco Frances S.A. (ADR)		7,316
	19,468	e	BCB Bancorp, Inc		272
	45,685		Bear State Financial, Inc		469
	358,111		Bendigo Bank Ltd		3,270
	358,212		Beneficial Bancorp, Inc		5,946
	300,551		Berkshire Hills Bancorp, Inc		11,646
	85,295		Blue Hills Bancorp, Inc		1,638

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,574,421		BNP Paribas	$	127,018
	4,517,616		BOC Hong Kong Holdings Ltd		22,005
	115,492	*,e	BofI Holding, Inc		3,288
	27,596		BOK Financial Corp		2,458
	157,876		Boston Private Financial Holdings, Inc		2,613
	12,372	*	BRE Bank S.A.		1,422
	34,118		Bridge Bancorp, Inc		1,158
	299,910		Brookline Bancorp, Inc		4,649
	31,325	e	Bryn Mawr Bank Corp		1,372
	812,427		BS Financial Group, Inc		7,105
	16,879	*	BSB Bancorp, Inc		506
	4,509,859		Bumiputra-Commerce Holdings BHD		6,737
	20,439	*	Byline Bancorp, Inc		435
	7,137		C&F Financial Corp		393
	110,407	*	Cadence BanCorp		2,531
	7,855,852		CaixaBank S.A.		39,432
	4,905		California First National Bancorp		89
	28,525		Camden National Corp		1,245
	3,322		Can Fin Homes Ltd		135
	461,967		Canadian Imperial Bank of Commerce/Canada		40,419
	95,450	e	Canadian Western Bank		2,579
	229,966		Canara Bank		1,087
	55,515	e	Capital Bank Financial Corp		2,279
	31,505		Capital City Bank Group, Inc		756
	34,553		Capitec Bank Holdings Ltd		2,192
	246,971		Capitol Federal Financial		3,630
	16,471	*,e	Capstar Financial Holdings, Inc		323
	25,696		Carolina Financial Corp		922
	323,696		Cathay General Bancorp		13,013
	275,764		Centerstate Banks of Florida, Inc		7,390
	224,079		Central Pacific Financial Corp		7,211
	20,207		Central Valley Community Bancorp		451
	6,324		Century Bancorp, Inc		507
	4,807,885		Chang Hwa Commercial Bank		2,603
	48,428		Charter Financial Corp		897
	258,199		Chemical Financial Corp		13,493
	6,865		Chemung Financial Corp		323
	2,258,666		Chiba Bank Ltd		16,175
	120,000		Chiba Kogyo Bank Ltd		634
	8,569,481		China Citic Bank		5,470
	137,835,748		China Construction Bank		115,155
	13,159,861		China Development Financial Holding Corp		3,956
	3,715,685		China Everbright Bank Co Ltd		1,721
	3,368,896		China Merchants Bank Co Ltd		11,929
	5,802,310	e	China Minsheng Banking Corp Ltd		5,344
	42,717,781		Chinatrust Financial Holding Co		26,814
	279,000		Chong Hing Bank Ltd		570
	11,703,584		Chongqing Rural Commercial Bank		7,451
	29,605		Chugoku Bank Ltd		406
	4,900		Chukyo Bank Ltd		102
	374,277		CIT Group, Inc		18,358
	9,332,346		Citigroup, Inc		678,835
	26,720		Citizens & Northern Corp		656
	4,177,979		Citizens Financial Group, Inc		158,220
	28,786		City Holding Co		2,070
	19,231	e	Civista Bancshares, Inc		430

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,212		Clifton Bancorp, Inc	$	756
	29,763		CNB Financial Corp		813
	71,952		CoBiz, Inc		1,413
	17,785		Codorus Valley Bancorp, Inc		546
	21,436	*,e	Collector AB		247
	111,904		Columbia Banking System, Inc		4,712
	22,650		Comdirect Bank AG.		308
	1,920,628		Comerica, Inc		146,467
	88,905		Commerce Bancshares, Inc		5,136
	13,516	e	Commerce Union Bancshares, Inc		313
	183,716		Commercial Bank of Qatar QSC		1,470
	1,376,689		Commercial International Bank		6,366
	3,304,870	*	Commerzbank AG.		45,070
	1,489,849		Commonwealth Bank of Australia		88,219
	94,064		Community Bank System, Inc		5,197
	41,745	*,e	Community Bankers Trust Corp		384
	7,973		Community Financial Corp		282
	28,210		Community Trust Bancorp, Inc		1,312
	1,065,929		Concordia Financial Group Ltd		5,272
	103,915		ConnectOne Bancorp, Inc		2,556
	869,920,206		Corpbanca S.A.		8,187
	10,353		County Bancorp, Inc		311
	58,941		Credicorp Ltd (NY)		12,084
	4,518,680		Credit Agricole S.A.		82,259
	61,168		Credito Emiliano S.p.A.		550
	67,673	e	Credito Valtellinese SC		325
	49,548	*	CU Bancorp		1,921
	43,451		Cullen/Frost Bankers, Inc		4,124
	199,072	*	Customers Bancorp, Inc		6,494
	199,082		CVB Financial Corp		4,812
	747,160	*	CYBG plc		3,045
	5,646,074	*,†,m	Cyprus Popular Bank Public Co Ltd		67
	1,296,027		Dah Sing Banking Group Ltd		2,852
	492,308		Dah Sing Financial Holdings Ltd		3,352
	16,700		Daishi Bank Ltd		788
	1,174,625		Danske Bank AS		47,071
	5,006,776		DBS Group Holdings Ltd		77,075
	422,637	g	Deutsche Pfandbriefbank AG.		6,335
	111,925		Development Credit Bank Ltd		312
	394,007		Dewan Housing Finance Corp Ltd		3,322
	149,219		DGB Financial Group Co Ltd		1,370
	63,405		Dime Community Bancshares		1,363
	5,584		DNB Financial Corp		197
	988,514		DNB NOR Holding ASA		19,958
	56,602		Doha Bank QSC		451
	3,407,924		Dubai Islamic Bank PJSC		5,618
	9,195,093		E.Sun Financial Holding Co Ltd		5,495
	122,881	*	Eagle Bancorp, Inc		8,239
	539,527		East West Bancorp, Inc		32,253
	45,500	e	Ehime Bank Ltd		585
	86,000		Eighteenth Bank Ltd		210
	10,715	*,e	Entegra Financial Corp		267
	19,187		Enterprise Bancorp, Inc		697
	108,710		Enterprise Financial Services Corp		4,604
	7,424	e	Equitable Group, Inc		333
	19,171	*	Equity Bancshares, Inc		682

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,099,977		Erste Bank der Oesterreichischen Sparkassen AG.	$	47,525
	15,983		ESSA Bancorp, Inc		251
	465,973	*	Essent Group Ltd		18,872
	1,683,368	*	Eurobank Ergasias S.A.		1,496
	8,838		Evans Bancorp, Inc		382
	1,577,188		Far Eastern International Bank		492
	17,610	e	Farmers & Merchants Bancorp, Inc		642
	15,235		Farmers Capital Bank Corp		641
	49,451		Farmers National Banc Corp		744
	23,087	*	FB Financial Corp		871
	67,534	*	FCB Financial Holdings, Inc		3,262
	45,238		Federal Agricultural Mortgage Corp (Class C)		3,291
	874,375		Federal Bank Ltd		1,512
	63,274		Fidelity Southern Corp		1,496
	719,085		Fifth Third Bancorp		20,120
	32,290		Financial Institutions, Inc		930
	1,114,439		FinecoBank Banca Fineco S.p.A		9,895
	46,221		First Bancorp (NC)		1,590
	1,354,941	*	First Bancorp (Puerto Rico)		6,937
	23,216		First Bancorp, Inc		704
	17,012	e	First Bancshares, Inc		513
	97,319		First Busey Corp		3,052
	18,340		First Business Financial Services, Inc		417
	14,322		First Citizens Bancshares, Inc (Class A)		5,355
	328,252		First Commonwealth Financial Corp		4,638
	32,712		First Community Bancshares, Inc		952
	29,093		First Connecticut Bancorp		778
	18,434		First Defiance Financial Corp		968
	209,710		First Financial Bancorp		5,484
	121,913	e	First Financial Bankshares, Inc		5,510
	25,059		First Financial Corp		1,193
	8,193,568		First Financial Holding Co Ltd		5,262
	14,872		First Financial Northwest, Inc		253
	85,633	*	First Foundation, Inc		1,532
	8,056	e	First Guaranty Bancshares, Inc		217
	132,641		First Hawaiian, Inc		4,018
	208,414	e	First Horizon National Corp		3,991
	120,187		First International Bank Of Israel Ltd		2,244
	12,729		First Internet Bancorp		411
	119,444		First Interstate Bancsystem, Inc		4,569
	152,458		First Merchants Corp		6,545
	19,163		First Mid-Illinois Bancshares, Inc		736
	382,554		First Midwest Bancorp, Inc		8,959
	11,261	e	First National Financial Corp		239
	24,149	*	First Northwest Bancorp		413
	63,119		First of Long Island Corp		1,922
	261,483		First Republic Bank		27,315
	119,672	*	Flagstar Bancorp, Inc		4,246
	59,316		Flushing Financial Corp		1,763
	9,800	e	FNB Bancorp		332
	849,490		FNB Corp		11,918
	38,986	*	Franklin Financial Network, Inc		1,390
	881,912		Fukuoka Financial Group, Inc		4,079
	331,183		Fulton Financial Corp		6,210
	226,108	e	Genworth MI Canada, Inc		6,710
	156,135		Genworth Mortgage Insurance Australia Ltd		342

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,069		German American Bancorp, Inc	$	1,486
	322,985	*	Get Bank S.A.		128
	294,482		Glacier Bancorp, Inc		11,120
	20,184		Great Southern Bancorp, Inc		1,123
	241,627		Great Western Bancorp, Inc		9,974
	154,855	*	Green Bancorp, Inc		3,662
	6,503	e	Greene County Bancorp, Inc		195
	87,695		Gruh Finance Ltd		661
	3,634,460		Grupo Aval Acciones y Valores		1,646
	3,099,968		Grupo Financiero Banorte S.A. de C.V.		21,378
	351,204		Grupo Financiero Galicia S.A. (ADR) (Class B)		18,101
	4,060,665		Grupo Financiero Inbursa S.A.		7,428
	195,100		Grupo Financiero Interacciones S.A. de C.V.		1,167
	1,619,974		Grupo Financiero Santander Mexico SAB de C.V.		3,289
	148,000	e	Grupo Supervielle S.A. (ADR)		3,654
	44,775		Guaranty Bancorp		1,245
	3,990		Guaranty Bancshares, Inc		128
	502,683		Gunma Bank Ltd		3,114
	749,900		Habib Bank Ltd		1,286
	594,216		Hachijuni Bank Ltd		3,718
	286,438		Hana Financial Group, Inc		11,883
	162,085		Hancock Holding Co		7,853
	847,488		Hang Seng Bank Ltd		20,719
	125,023		Hanmi Financial Corp		3,869
	27,137	*	HarborOne Bancorp, Inc		510
	61,364		HDFC Bank Ltd		1,699
	50,661		Heartland Financial USA, Inc		2,503
	114,695		Heritage Commerce Corp		1,632
	65,120		Heritage Financial Corp		1,921
	413,154		Hilltop Holdings, Inc		10,742
	2,771		Hingham Institution for Savings		527
	40,824		Hiroshima Bank Ltd		331
	13,600		Hokkoku Bank Ltd		596
	39,000		Hokuetsu Bank Ltd		888
	86,200		Hokuhoku Financial Group, Inc		1,387
	12,477		Home Bancorp, Inc		522
	436,006		Home Bancshares, Inc		10,996
	43,759		Home Capital Group, Inc		487
	46,047	*	HomeStreet, Inc		1,243
	53,396	*	HomeTrust Bancshares, Inc		1,370
	702,716		Hong Leong Bank BHD		2,639
	105,820		Hong Leong Credit BHD		417
	395,150		Hope Bancorp, Inc		6,998
	63,127		Horizon Bancorp		1,841
	2,069,140		Housing Development Finance Corp		55,232
	16,698	*,e	Howard Bancorp, Inc		349
	9,794,585		HSBC Holdings plc		96,828
	7,107,975		Hua Nan Financial Holdings Co Ltd		3,860
	9,792,769		Huntington Bancshares, Inc		136,707
	139,692		Hyakugo Bank Ltd		625
	134,000		Hyakujushi Bank Ltd		465
	248,358		IBERIABANK Corp		20,403
	3,465,532		ICICI Bank Ltd		14,700
	775,243		ICICI Bank Ltd (ADR)		6,636
	1,152,644		IDFC Bank Ltd		996
	20,351	*,e	Impac Mortgage Holdings, Inc		266

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,299		Independent Bank Corp (MA)	$	5,173
	37,338		Independent Bank Corp (MI)		846
	33,772		Independent Bank Group, Inc		2,036
	133,482,549		Industrial & Commercial Bank of China		99,779
	315,460		Industrial Bank of Korea		3,977
	16,890,326		ING Groep NV		311,328
	107,218		International Bancshares Corp		4,299
	16,485	e	Investar Holding Corp		397
	1,053,945		Investors Bancorp, Inc		14,376
	541,290	*,†,m	Irish Bank Resolution Corp Ltd		0
	720,388	*	Israel Discount Bank Ltd		1,817
	163,200		Iyo Bank Ltd		1,322
	152,581		Jammu & Kashmir Bank Ltd		172
	647,091		Japan Post Bank Co Ltd		7,997
	79,909		JB Financial Group Co Ltd		419
	346,300		Jimoto Holdings Inc		640
	13,383,803		JPMorgan Chase & Co		1,278,287
	20,056		Juroku Bank Ltd		660
	41,071		Jyske Bank		2,374
	106,100		Kansai Urban Banking Corp		1,320
	155,400		Kanto Tsukuba Bank Ltd		521
	854,980		Karnataka Bank Ltd		1,856
	480,470		Karur Vysya Bank Ltd		1,062
	950,600		Kasikornbank PCL - NVDR		5,912
	1,541,297		Kasikornbank PCL (Foreign)		9,904
	745,213		KB Financial Group, Inc		36,664
	397,573		KBC Groep NV		33,730
	398,132		Kearny Financial Corp		6,111
	768,000		Keiyo Bank Ltd		3,567
	1,812,602		Keycorp		34,113
	1,783,232		Kiatnakin Bank PCL (Foreign)		3,734
	1,485,000		King's Town Bank		1,569
	46,000		Kiyo Bank Ltd		773
	21,465		KJB Financial Group Co Ltd		228
	112,034		Komercni Banka AS		4,893
	2,576,924		Krung Thai Bank PCL (Foreign)		1,455
	512,600		Kyushu Financial Group, Inc		3,156
	83,465		Lakeland Bancorp, Inc		1,703
	45,005		Lakeland Financial Corp		2,193
	33,957		Laurentian Bank of Canada		1,641
	19,634	e	LCNB Corp		411
	276,363		LegacyTexas Financial Group, Inc		11,032
	18,213	*,e	LendingTree, Inc		4,452
	868,728		LH Financial Group PCL		47
	266,252	*	Liberbank S.A.		246
	228,923		LIC Housing Finance Ltd		2,203
	38,104	e	Live Oak Bancshares, Inc		894
	26,013,109		Lloyds TSB Group plc		23,640
	135,033		M&T Bank Corp		21,746
	62,599		Macatawa Bank Corp		642
	73,145		MainSource Financial Group, Inc		2,623
	4,747,832		Malayan Banking BHD		10,723
	790,637		Malaysia Building Society		212
	12,249	*,e	Malvern Bancorp, Inc		328
	329,769		Masraf Al Rayan		3,361
	155,453		MB Financial, Inc		6,998

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,748		MBT Financial Corp	$	446
	59,900		MCB Bank Ltd		119
	7,233,923		Mediobanca S.p.A.		77,739
	11,432,734		Mega Financial Holding Co Ltd		8,949
	31,065		Mercantile Bank Corp		1,084
	282,219		Meridian Bancorp, Inc		5,263
	52,517		Meta Financial Group, Inc		4,117
	46,342	*,e	Metro Bank plc		2,100
	3,784,627		Metropolitan Bank & Trust		6,451
	1,074,041	*	MGIC Investment Corp		13,458
	5,102	e	Middlefield Banc Corp		235
	31,140		Midland States Bancorp, Inc		987
	18,411	e	Midsouth Bancorp, Inc		222
	22,874		MidWestOne Financial Group, Inc		772
	21,100		Mie Bank Ltd		494
	17,000	e	Minato Bank Ltd		309
	17,309,829		Mitsubishi UFJ Financial Group, Inc		112,546
	220,346		Mitsui Trust Holdings, Inc		7,960
	10,400		Miyazaki Bank Ltd		377
	99,663		Mizrahi Tefahot Bank Ltd		1,787
	19,131,463		Mizuho Financial Group, Inc		33,538
	3,158,456	g	Moneta Money Bank AS.		11,121
	17,368		Musashino Bank Ltd		517
	12,482		MutualFirst Financial, Inc		480
	90,492		Nanto Bank Ltd		2,543
	2,112,329		National Australia Bank Ltd		52,371
	170,558		National Bank Holdings Corp		6,087
	1,323,793		National Bank of Abu Dhabi PJSC		3,677
	567,714		National Bank of Canada		27,322
	4,986,515	*	National Bank of Greece S.A.		1,701
	14,764	e	National Bankshares, Inc		664
	36,965	*	National Commerce Corp		1,582
	175,736	*,e	Nationstar Mortgage Holdings, Inc		3,263
	88,731		NBT Bancorp, Inc		3,258
	204,151		Nedbank Group Ltd		3,055
	470,587		New York Community Bancorp, Inc		6,066
	16,129	*	Nicolet Bankshares, Inc		928
	334,860		Nishi-Nippon Financial Holdings, Inc		3,668
	235,229	*	NMI Holdings, Inc		2,917
	3,500,340	g	Nordax Group AB		20,628
	1,683,411		Nordea Bank AB		22,856
	225,200		North Pacific Bank Ltd		713
	12,708		Northeast Bancorp		332
	80,990		Northfield Bancorp, Inc		1,405
	14,910		Northrim BanCorp, Inc		521
	190,627		Northwest Bancshares, Inc		3,292
	170,981	*	Norwegian Finans Holding ASA		1,943
	11,811	e	Norwood Financial Corp		360
	58,600		OceanFirst Financial Corp		1,611
	1,990	e	Oconee Federal Financial Corp		56
	735	*,e	Ocwen Financial Corp		3
	79,243		OFG Bancorp		725
	24,100		Ogaki Kyoritsu Bank Ltd		675
	7,805	e	Ohio Valley Banc Corp		284
	10,800		Oita Bank Ltd		448
	17,519		Old Line Bancshares, Inc		491

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	257,367		Old National Bancorp	$	4,710
	6,817	e	Old Point Financial Corp		221
	59,285		Old Second Bancorp, Inc		797
	542,420		OneSavings Bank plc		2,930
	41,284		Opus Bank		991
	56,324		Oriental Bank of Commerce		103
	74,048		Oritani Financial Corp		1,244
	15,620		Orrstown Financial Services, Inc		389
	344,523		OTP Bank		12,934
	4,062,364		Oversea-Chinese Banking Corp		33,499
	41,468		Pacific Continental Corp		1,118
	32,254	*	Pacific Mercantile Bancorp		295
	182,418	*	Pacific Premier Bancorp, Inc		6,886
	284,661		PacWest Bancorp		14,378
	7,908	*	Paragon Commercial Corp		446
	193,174		Paragon Group of Cos plc		1,138
	25,727		Park National Corp		2,778
	242,466		Park Sterling Bank		3,011
	10,677	e	Parke Bancorp, Inc		237
	31,266	*,e	PCSB Financial Corp		590
	57,722		Peapack Gladstone Financial Corp		1,948
	9,151		Penns Woods Bancorp, Inc		425
	31,382	*,e	PennyMac Financial Services, Inc		559
	8,580	e	Peoples Bancorp of North Carolina, Inc		306
	45,883		Peoples Bancorp, Inc		1,541
	13,886	e	Peoples Financial Services Corp		664
	360,276		People's United Financial, Inc		6,535
	26,234		People's Utah Bancorp		851
	4,181,551	*	Permanent TSB Group Holdings plc		9,143
	448,462	*	PHH Corp		6,247
	3,000,000		Philippine National Bank		3,493
	179,040		Pinnacle Financial Partners, Inc		11,987
	664,076	*	Piraeus Bank S.A.		2,288
	2,090,623		PNC Financial Services Group, Inc		281,753
	277,376		Popular, Inc		9,969
	956,459		Powszechna Kasa Oszczednosci Bank Polski S.A.		9,272
	68,991		Preferred Bank		4,164
	20,472		Premier Financial Bancorp, Inc		446
	145,066		Prosperity Bancshares, Inc		9,535
	9,469	*	Provident Bancorp, Inc		219
	12,653		Provident Financial Holdings, Inc		248
	224,928		Provident Financial Services, Inc		5,999
	16,058	e	Prudential Bancorp, Inc		298
	61,911,900		PT Bank Bukopin Tbk		2,576
	8,215,274		PT Bank Central Asia Tbk		12,388
	3,220,357		PT Bank Danamon Indonesia Tbk		1,244
	8,594,900		PT Bank Jabar Banten Tbk		1,659
	18,298,560		PT Bank Mandiri Persero Tbk		9,144
	8,148,819		PT Bank Negara Indonesia		4,481
	44,500,000	*	PT Bank Pan Indonesia Tbk		3,769
	42,918,500		PT Bank Pembangunan Daerah Jawa Timur Tbk		2,233
	12,002,494		PT Bank Tabungan Negara Tbk		2,811
	3,168,984		Public Bank BHD		15,346
	129,237	*	Qatar First Bank		254
	50,838		Qatar Islamic Bank SAQ		1,272
	234,678		Qatar National Bank		7,865

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,208		QCR Holdings, Inc	$	1,738
	812,933		Radian Group, Inc		15,194
	83,133	*	Raiffeisen International Bank Holding AG.		2,786
	54,573	g	RBL Bank Ltd		425
	1,991,332		Regions Financial Corp		30,328
	83,048		Renasant Corp		3,563
	21,329		Republic Bancorp, Inc (Class A)		829
	89,169	*,e	Republic First Bancorp, Inc		825
	1,466,694		Resona Holdings, Inc		7,541
	661,802		RHB Capital BHD		789
	46,614		Riverview Bancorp, Inc		392
	76,840		Rizal Commercial Banking Corp		75
	5,200	*,†,m	Roskilde Bank		0
	1,888,331	*	Royal Bank of Canada		146,103
	3,353,333	*	Royal Bank of Scotland Group plc		12,071
	65,348		S&T Bancorp, Inc		2,586
	85,018		Sandy Spring Bancorp, Inc		3,523
	87,100		San-In Godo Bank Ltd		755
	5,084,026		Sberbank of Russian Federation (ADR)		72,496
	75,429	*	Seacoast Banking Corp of Florida		1,802
	156,480		Security Bank Corp		750
	144,180		Senshu Ikeda Holdings, Inc		555
	89,726		ServisFirst Bancshares, Inc		3,486
	377,793	e	Seven Bank Ltd		1,365
	273,000		Shiga Bank Ltd		1,519
	70,400		Shikoku Bank Ltd		1,066
	1,014,387		Shinhan Financial Group Co Ltd		44,834
	1,697,658		Shinsei Bank Ltd		27,208
	306,400		Shizuoka Bank Ltd		2,757
	32,399		Shore Bancshares, Inc		539
	22,544		SI Financial Group, Inc		337
	2,011,917		Siam Commercial Bank PCL (Foreign)		9,230
	26,533		Sierra Bancorp		720
	159,277	*	Signature Bank		20,394
	57,873		Simmons First National Corp (Class A)		3,351
	10,807,666		SinoPac Financial Holdings Co Ltd		3,239
	54,663	g	Skandiabanken ASA		606
	1,346,238		Skandinaviska Enskilda Banken AB (Class A)		17,761
	14,216	*	SmartFinancial, Inc		342
	1,686,970		Societe Generale		98,859
	2,578,170		South Indian Bank Ltd		1,115
	57,852		South State Corp		5,210
	13,722	*	Southern First Bancshares, Inc		499
	12,669		Southern Missouri Bancorp, Inc		462
	38,472		Southern National Bancorp of Virginia, Inc		654
	51,719		Southside Bancshares, Inc		1,881
	70,298		Southwest Bancorp, Inc		1,937
	160,105		Spar Nord Bank A/s		1,996
	235,231		Sparebanken Midt-Norge		2,404
	287,695		Sparebanken Nord-Norge		2,233
	2,592		St Galler Kantonalbank		1,194
	2,033,112	e	Standard Bank Group Ltd		23,719
	1,155,831	*	Standard Chartered plc		11,493
	70,225		State Bank & Trust Co		2,012
	1,788,730		State Bank of India		6,966
	630,937		Sterling Bancorp/DE		15,553

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	49,919		Stock Yards Bancorp, Inc	$	1,897
	2,502,212		Sumitomo Mitsui Financial Group, Inc		96,183
	26,246	e	Summit Financial Group, Inc		673
	22,275		Sun Bancorp, Inc		554
	13,525	*	Sunshine Bancorp, Inc		314
	3,619,469		SunTrust Banks, Inc		216,336
	133,990		Suruga Bank Ltd		2,891
	93,921	*	SVB Financial Group		17,572
	306,930		Svenska Handelsbanken AB		4,637
	604,749		Swedbank AB (A Shares)		16,746
	163,418		Sydbank AS		6,797
	50,584	*	Syndicate Bank		48
	253,628		Synovus Financial Corp		11,682
	2,382,769		Taichung Commercial Bank		759
	9,515,620		Taishin Financial Holdings Co Ltd		4,101
	2,972,669		Taiwan Business Bank		810
	8,641,005		Taiwan Cooperative Financial Holding		4,464
	386,526		TCF Financial Corp		6,586
	328,197		TCS Group Holding plc (ADR)		5,399
	16,757		Territorial Bancorp, Inc		529
	95,799	*	Texas Capital Bancshares, Inc		8,220
	238,482		TFS Financial Corp		3,847
	3,004,000		Thanachart Capital PCL		4,395
	201,932	*	The Bancorp, Inc		1,670
	121,115		Timbercreek Financial Corp		908
	11,255		Timberland Bancorp, Inc		353
	2,559,980		Tisco Bank PCL		5,917
	10,264,187		TMB Bank PCL (Foreign)		776
	74,700		Tochigi Bank Ltd		319
	121,000		Toho Bank Ltd		455
	16,093		Tokyo TY Financial Group, Inc		412
	254,300		Tomony Holdings, Inc		1,152
	27,589		Tompkins Trustco, Inc		2,377
	2,716,113		Toronto-Dominion Bank		152,921
	40,600		Towa Bank Ltd		435
	108,764		TowneBank		3,644
	76,606		Trico Bancshares		3,122
	44,711	*	Tristate Capital Holdings, Inc		1,024
	59,594	*	Triumph Bancorp, Inc		1,922
	357,966		Trustco Bank Corp NY		3,186
	130,483		Trustmark Corp		4,322
	3,765,862		Turkiye Garanti Bankasi AS		10,232
	517,367		Turkiye Halk Bankasi AS		1,760
	2,416,490		Turkiye Is Bankasi (Series C)		4,598
	3,908,714		Turkiye Sinai Kalkinma Bankasi AS		1,525
	631,503		Turkiye Vakiflar Bankasi Tao		1,112
	14,694	e	Two River Bancorp		291
	104,662		UMB Financial Corp		7,796
	483,574		Umpqua Holdings Corp		9,435
	5,991,571	*	UniCredit S.p.A		127,858
	399,294		Union Bank of India		776
	159,444		Union Bankshares Corp		5,628
	8,617	e	Union Bankshares, Inc		417
	64,900		United Bank Ltd		117
	208,456		United Bankshares, Inc		7,744
	317,659		United Community Banks, Inc		9,066

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	115,068		United Community Financial Corp	$	1,105
	156,598		United Financial Bancorp, Inc (New)		2,864
	1,993,872		United Overseas Bank Ltd		34,625
	25,564	e	United Security Bancshares		243
	14,747	e	Unity Bancorp, Inc		292
	48,649		Univest Corp of Pennsylvania		1,557
	2,983,156		US Bancorp		159,867
	13,922		Valiant Holding		1,512
	1,141,721		Valley National Bancorp		13,758
	27,905	*	Veritex Holdings, Inc		752
	463,878		Vijaya Bank		390
	1,492,750		Virgin Money Holdings UK plc		5,734
	5,333,433		VTB Bank OJSC (GDR)		11,485
	219,779	*	Walker & Dunlop, Inc		11,501
	171,985		Washington Federal, Inc		5,787
	31,834		Washington Trust Bancorp, Inc		1,823
	21,488		WashingtonFirst Bankshares, Inc		765
	79,136		Waterstone Financial, Inc		1,543
	98,193		Webster Financial Corp		5,160
	12,657,439		Wells Fargo & Co		698,058
	80,414		WesBanco, Inc		3,299
	40,052		West Bancorporation, Inc		977
	48,746	e	Westamerica Bancorporation		2,902
	390,791	*	Western Alliance Bancorp		20,743
	55,201		Western New England Bancorp, Inc		602
	3,589,126		Westpac Banking Corp		90,279
	227,744		Wintrust Financial Corp		17,835
	380,204	*,e	WMIH Corp		361
	1,161,623		Woori Bank		18,135
	127,369		WSFS Financial Corp		6,209
	10,097	*	Xenith Bankshares, Inc		328
	18,000	e	Yamagata Bank Ltd		418
	246,492		Yamaguchi Financial Group, Inc		2,887
	84,000		Yamanashi Chuo Bank Ltd		354
	4,054,471	*	Yapi ve Kredi Bankasi		4,919
	2,417,575		Yes Bank Ltd		12,978
	2,598,677		Zions Bancorporation		122,606
			TOTAL BANKS		11,016,960
CAPITAL GOODS - 8.3%
	2,541,629		3M Co		533,488
	376,802		A.O. Smith Corp		22,393
	61,428		Aalberts Industries NV		2,969
	79,333		Aaon, Inc		2,735
	61,910		AAR Corp		2,339
	1,380,651		ABB Ltd		34,141
	3,242,689	*,e	Abengoa S.A.		123
	1,883,817		Aboitiz Equity Ventures, Inc		2,719
	280,000		AcBel Polytech, Inc		214
	354,912		ACS Actividades Construccion y Servicios S.A.		13,166
	113,392		Actuant Corp (Class A)		2,903
	19,316	e	Acuity Brands, Inc		3,308
	612,670		Adani Enterprises Ltd		1,093
	920,600	e	Advan Co Ltd		8,020
	66,495		Advanced Drainage Systems, Inc		1,347
	336,680	*	Aecom Technology Corp		12,393

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	34,589		Aecon Group, Inc	$	487
	65,015	*	Aegion Corp		1,514
	472,309	*	AerCap Holdings NV		24,140
	202,902	*	Aerojet Rocketdyne Holdings, Inc		7,104
	39,264	*	Aerovironment, Inc		2,125
	21,146	*,e	AFG Arbonia-Forster Hldg		378
	9,886		AG Growth International Inc		422
	962,648		AGCO Corp		71,015
	161,233	g	Ahlsell AB		1,049
	42,327		AIA Engineering Ltd		861
	30,599		Aica Kogyo Co Ltd		1,029
	91,300		Aichi Corp		680
	31,700		Aida Engineering Ltd		375
	200,711		Air Lease Corp		8,554
	91,639		Aircastle Ltd		2,043
	118,824		Airtac International Group		1,642
	47,115		Alamo Group, Inc		5,059
	58,684		Alarko Holding AS		108
	54,195		Albany International Corp (Class A)		3,111
	139,011		Alfa Laval AB		3,400
	2,891,714		Alfa S.A. de C.V. (Class A)		3,651
	19,656	e,g	Alimak Group AB		359
	486,176		Allegion plc		42,040
	18,741,465		Alliance Global Group, Inc		5,918
	20,476		Allied Motion Technologies, Inc		519
	618,887		Allison Transmission Holdings, Inc		23,227
	27,843		Alstom Projects India Ltd		290
	288,679		Alstom RGPT		12,265
	77,733		Alstom T&D India Ltd		464
	54,275		Altra Holdings, Inc		2,611
	194,036		Amada Co Ltd		2,130
	12,731		Amara Raja Batteries Ltd		138
	34,832	*	Ameresco, Inc		272
	13,703	e	American Railcar Industries, Inc		529
	74,056	*	American Woodmark Corp		7,128
	315,740		Ametek, Inc		20,851
	11,413		Andritz AG.		660
	18,400		Anest Iwata Corp		173
	54,675		Apogee Enterprises, Inc		2,639
	222,350		Applied Industrial Technologies, Inc		14,631
	425,997	*	Arabtec Holding Co		334
	43,509		Arcadis NV		938
	2,599	*	Arcam AB		108
	792,213		Arconic, Inc		19,710
	93,562		Argan, Inc		6,292
	45,618	*	Armstrong Flooring, Inc		718
	103,334	*	Armstrong World Industries, Inc		5,296
	28,600		Asahi Diamond Industrial Co Ltd		275
	258,446		Asahi Glass Co Ltd		9,599
	326,051	*	Aselsan Elektronik Sanayi Ve Ticaret AS		2,407
	1,169,177		Ashok Leyland Ltd		2,207
	33,519		Ashoka Buildcon Ltd		97
	1,205,124		Ashtead Group plc		29,072
	1,796,003		Assa Abloy AB		41,120
	248,583		Astaldi S.p.A.		1,703
	133,912		Astec Industries, Inc		7,500

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,383		Astral Polytechnik Ltd	$	219
	55,366	*	Astronics Corp		1,647
	858,016		Asunaro Aoki Construction Co Ltd		7,533
	358,860	*	Atkore International Group, Inc		7,001
	492,370		Atlas Copco AB (A Shares)		20,887
	106,039		Atlas Copco AB (B Shares)		4,119
	63,330	*	ATS Automation Tooling Systems, Inc		673
	3,291,991		Austal Ltd		4,021
	3,727,019		AviChina Industry & Technology Co		2,256
	99,509	*,e	Axon Enterprise, Inc		2,256
	49,209		AZZ, Inc		2,396
	49,721		B&B Tools AB		667
	89,850	e	Badger Daylighting Ltd		1,913
	5,006,888		BAE Systems plc		42,402
	425,403		Balfour Beatty plc		1,536
	74,500		Bando Chemical Industries Ltd		792
	184,000		Baoye Group Co Ltd		133
	828,199		Barloworld Ltd		7,617
	148,705		Barnes Group, Inc		10,475
	8,187		BayWa AG.		326
	53	*,†,m	Beacon Power Corp		0	^
	126,100	*	Beacon Roofing Supply, Inc		6,463
	470,299		Beijing Enterprises Holdings Ltd		2,533
	183,000	g	Beijing Urban Construction Design & Development Group Co Ltd		109
	6,787		BEML Ltd		165
	14,960,000	e	BEP International Holdings Ltd		313
	1,865,937		Berjaya Corp BHD		153
	1,491,400		Berli Jucker PCL		2,363
	966,000		BES Engineering Corp		211
	541,069		Bharat Heavy Electricals		697
	270,535	*,m	Bharat Heavy Electricals Ltd		349
	531,703	e	Bidvest Group Ltd		6,781
	8,314		Biesse S.p.A.		368
	27,609	e	Bird Construction Income Fund		220
	848,155		Bizlink Holdings Inc		7,785
	14,784	*,e	Blue Bird Corp		305
	16,332		Blue Star Ltd		194
	125,488	*	BMC Stock Holdings, Inc		2,679
	23,832		Bobst Group AG.		2,623
	7,500	g	BOC Aviation Ltd		41
	224,277		Bodycote plc		2,756
	1,645,548		Boeing Co		418,315
	201,000	*,e	Boer Power Holdings Ltd		53
	2,015,988	*	Bombardier, Inc		3,651
	25,772		Boskalis Westminster		901
	14,756		Bossard Holding AG.		3,417
	182,627		Boustead Singapore Ltd		124
	424,105		Bouygues S.A.		20,133
	25,949		Brenntag AG.		1,447
	78,460		Briggs & Stratton Corp		1,844
	51		Brookfield Business Partners LP		2
	4,134		Bucher Industries AG.		1,471
	7,989		Budimex S.A.		480
	20,201		Bufab AB		265

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	263,285	*	Builders FirstSource, Inc	$	4,736
	32,500		Bunka Shutter Co Ltd		243
	268,967		Bunzl plc		8,171
	31,235	e	Burckhardt Compression Holding AG.		9,764
	6,839		Burkhalter Holding AG.		872
	256,422		BWX Technologies, Inc		14,365
	24,426		Byucksan Corp		65
	217,261		CAE, Inc		3,801
	133,042	*	Caesarstone Sdot-Yam Ltd		3,965
	200,839	*	CAI International, Inc		6,089
	8,117		Carbone Lorraine		292
	33,331		Carborundum Universal Ltd		162
	23,805		Cargotec Corp (B Shares)		1,497
	2,777,089	e	Carillion plc		1,909
	70,436		Carlisle Cos, Inc		7,064
	1,944,793		Caterpillar, Inc		242,535
	633,500		CB Industrial Product Holding BHD		287
	133,400		Central Glass Co Ltd		2,910
	20,123		CENTROTEC Sustainable AG.		428
	2,492		Cera Sanitaryware Ltd		125
	365,225		CH Karnchang PCL		307
	400,000		CH Karnchang PCL (ADR)		336
	104,100		Changchai Co Ltd		59
	58,023	*	Chart Industries, Inc		2,276
	77,991		Cheil Industries, Inc		9,220
	284,590		Chemring Group plc		686
	398,100	*	Chengde Nanjiang Co Ltd		139
	193,128	e	Chicago Bridge & Iron Co NV		3,245
	1,016,875		Chicony Power Technology Co Ltd		1,905
	727,000	e	China Aircraft Leasing Group Holdings Ltd		756
	1,722,000	*,e	China Chengtong Development Group Ltd		129
	3,951,192		China Communications Construction Co Ltd		4,956
	1,771,000		China Conch Venture Holdings Ltd		3,453
	1,220,000	*	China Energine International Holdings Ltd		77
	932,318		China Fangda Group Co Ltd		645
	218,000	e	China High Speed Transmission Equipment Group Co Ltd		280
	689,000		China Lesso Group Holdings Ltd		471
	8,585,000	*,e	China Ocean Shipbuilding Industry Group Ltd		65
	3,390,443		China Railway Construction Corp		4,313
	3,803,127		China Railway Group Ltd		3,160
	368,080	e	China Singyes Solar Technologies Holdings Ltd		123
	1,634,685		China State Construction International Holdings Ltd		2,390
	11,710,000	*,e	China Strategic Holdings Ltd		167
	113,838		China Yuchai International Ltd		2,534
	255,100		Chip Eng Seng Corp Ltd		144
	97,000	e	Chiyoda Corp		568
	6,900		Chiyoda Integre Co Ltd		162
	19,010,000		Chongqing Machinery & Electric Co Ltd		2,390
	18,700		Chudenko Corp		544
	708,375		Chung Hsin Electric & Machinery Manufacturing Corp		491
	584,336		CIMIC Group Ltd		20,307
	189,201		CIR-Compagnie Industriali Riunite S.p.A.		292
	31,246		CIRCOR International, Inc		1,701

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,762,796		Citic Pacific Ltd	$	10,021
	1,789,000	e	Citic Resources Holdings Ltd		207
	14,784		CJ Corp		2,206
	2,540,225		CK Hutchison Holdings Ltd		32,536
	159,700		CKD Corp		3,143
	7,903,404		CNH Industrial NV		94,883
	5,337,420	e	CNH Industrial NV (NYSE)		64,102
	780,391		Cobham plc		1,524
	912,480	*	Colfax Corp		37,996
	37,003		Columbus McKinnon Corp		1,401
	298,344		Comfort Systems USA, Inc		10,651
	73,508	*	Commercial Vehicle Group, Inc		540
	2,982,441		Compagnie de Saint-Gobain		177,694
	5,559		Compagnie d'Entreprises CFE		829
	236,400		COMSYS Holdings Corp		5,647
	18,290,000		Concord New Energy Group Ltd		845
	242,652	*,e	Consolidated Infrastructure Group Ltd		221
	11,564		Construcciones y Auxiliar de Ferrocarriles S.A.		468
	334,972	*	Continental Building Products Inc		8,709
	972,450		Continental Engineering Corp		411
	2,583		Conzzeta AG.		2,723
	672,900	*,e	Cosco Corp Singapore Ltd		142
	73,185		Cosel Co Ltd		950
	225,312		Costain Group plc		1,354
	121,767		Cramo Oyj (Series B)		3,196
	100,741		Crane Co		8,058
	306,500		CRCC High-Tech Equipment Corp Ltd		101
	731,448	*	Crompton Greaves Ltd		884
	4,085,321		CRRC Corp Ltd		3,640
	3,318		CS Wind Corp		72
	337,590		CSBC Corp Taiwan		136
	26,849	*	CSW Industrials, Inc		1,191
	1,308,000		CTCI Corp		2,102
	47,755		Cubic Corp		2,435
	346,758		Cummins, Inc		58,266
	176,970		Curtiss-Wright Corp		18,500
	207,200	e	CWT Ltd		357
	28,205		Daelim Industrial Co		1,978
	4,543		Daetwyler Holding AG.		719
	107,158	*	Daewoo Engineering & Construction Co Ltd		676
	34,366		Daewoo International Corp		581
	75,000	*,†,m	Daewoo Shipbuilding & Marine Engineering Co Ltd		0	^
	120,400		Daifuku Co Ltd		5,937
	61,641		Daihen Corp		547
	59,000		Daiho Corp		279
	4,400		Daiichi Jitsugyo Co Ltd		128
	157,774		Daikin Industries Ltd		15,978
	18,500		Daiwa Industries Ltd		198
	139,160		Dalian Refrigeration Co Ltd		84
	6,736	e	Danieli & Co S.p.A.		176
	47,922		Danieli & Co S.p.A. (RSP)		886
	3,054		Dassault Aviation S.A.		4,942
	13,119		Dawonsys Co Ltd		123
	68,569		DCC plc		6,658
	630,430		Deere & Co		79,176

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,000		Denyo Co Ltd	$	160
	75,672		Deutz AG.		612
	17,689	*	Dialight plc		187
	118,733	*	DigitalGlobe, Inc		4,185
	77,201	g	Dilip Buildcon Ltd		710
	171,920		Diploma plc		2,451
	55,396	*	DIRTT Environmental Solutions		243
	29,869		DMC Global, Inc		505
	16,114,080		DMCI Holdings, Inc		4,948
	16,019		DMG Mori AG.		994
	851,825	*	Dogan Sirketler Grubu Holdings		208
	234,565		Donaldson Co, Inc		10,776
	133,416		Dong Yang Gang Chul Co Ltd		436
	7,355		Dongkuk Structures & Construction Co Ltd		34
	35,010		Doosan Bobcat, Inc		1,120
	48,052		Doosan Heavy Industries and Construction Co Ltd		720
	189,908	*,e	Doosan Infracore Co Ltd		1,367
	41,397		Douglas Dynamics, Inc		1,631
	1,019,229		Dover Corp		93,147
	27,876	*	Ducommun, Inc		893
	81,319	e	Duerr AG.		10,889
	68,692	*	DXP Enterprises, Inc		2,163
	58,458	*	Dycom Industries, Inc		5,020
	4,377,900		Dynasty Ceramic PCL		523
	5,909		e Tec E&C Ltd		700
	10,917		Eastern Co		313
	1,324,778		Eaton Corp		101,730
	69,665		Ebara Corp		2,314
	22,314		Eicher Motors Ltd		10,679
	13,754		Eiffage S.A.		1,424
	777,000		Ekovest BHD		201
	17,000		Elbit Systems Ltd		2,499
	3,624		Electra Israel Ltd		811
	481,250	*,e,g	Elementia SAB de C.V.		633
	108,564	e,g	Eltel AB		349
	310,288		EMCOR Group, Inc		21,528
	400,835		Emerson Electric Co		25,188
	2,172,626		Empresa Brasileira de Aeronautica S.A.		12,272
	39,625		Encore Wire Corp		1,774
	37,220	*,e	Energous Corp		471
	66,522	*,e	Energy Recovery, Inc		526
	129,515		EnerSys		8,959
	158,633	*	Engility Holdings, Inc		5,501
	104,570		Engineers India Ltd		238
	48,032		EnPro Industries, Inc		3,868
	376,000	e	Enric Energy Equipment Holdings Ltd		247
	6,931	e	EnviroStar, Inc		192
	242,876		Equifax, Inc		25,742
	48,346		ESCO Technologies, Inc		2,898
	37,085		Escorts Ltd		375
	50,282	*	Esterline Technologies Corp		4,533
	701,856		European Aeronautic Defence and Space Co		66,813
	17,518		Exco Technologies Ltd		136
	12,791	*	FACC AG.		187
	27,141		Fanuc Ltd		5,503
	518,000		Far East Global Group Ltd		66

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,891,517		Far Eastern Textile Co Ltd	$	2,293
	559,012	e	Fastenal Co		25,480
	9,120,000	*,e	FDG Electric Vehicles Ltd		457
	129,218		Federal Signal Corp		2,750
	2,723		Feintool International Holding AG.		309
	108,868		Fenner plc		492
	392,852		Ferrovial S.A.		8,656
	3,974	*	FIGEAC-AERO		94
	308,871	*	Fincantieri S.p.A		372
	27,857	*,e	Finetex EnE, Inc		71
	658,876		Finmeccanica S.p.A.		12,354
	214,393		Finning International, Inc		4,902
	120,330		Finolex Cables Ltd		1,000
	264,000		First Tractor Co		126
	108,191		Flowserve Corp		4,608
	23,699	e	FLSmidth & Co AS		1,569
	310,438		Fluor Corp		13,069
	62,481	*	Fomento de Construcciones y Contratas S.A.		626
	30,050		Force Motors Ltd		1,734
	2,306,093		Fortive Corp		163,248
	856,569		Fortune Brands Home & Security, Inc		57,587
	189,130		Foshan Electrical and Lighting Co Ltd		148
	2,795,624	e	Fosun International		5,911
	41,330	*,e	Foundation Building Materials, Inc		584
	89,288		Franklin Electric Co, Inc		4,005
	22,631		Freightcar America, Inc		443
	241,500		Fudo Tetra Corp		402
	352,540		Fuji Electric Holdings Co Ltd		1,956
	127,792		Fuji Machine Manufacturing Co Ltd		2,381
	798,078		Fujikura Ltd		6,414
	38,300		Fujitec Co Ltd		536
	28,900		Fukuda Corp		1,639
	34,500		Fukushima Industries Corp		1,275
	28,800		Furukawa Co Ltd		491
	166,000		Furukawa Electric Co Ltd		9,126
	90,219	*	Futaba Corp/Chiba		1,703
	203,992		Galliford Try plc		3,698
	462,852		Gamesa Corp Tecnologica S.A.		6,047
	1,970,303		Gamuda BHD		2,464
	1,423,036	*	Gardner Denver Holdings, Inc		39,162
	74,867	e	GATX Corp		4,609
	63,715		Gayatri Projects Ltd		174
	735,941		GEA Group AG.		33,503
	5,675		Geberit AG.		2,687
	10,000		Gecoss Corp		108
	15,809	*	Gencor Industries, Inc		279
	118,310	*	Generac Holdings, Inc		5,434
	93,878		General Cable Corp		1,770
	1,185,383		General Dynamics Corp		243,691
	21,477,817		General Electric Co		519,333
	10,844		Georg Fischer AG.		13,383
	59,720	*	Gibraltar Industries, Inc		1,860
	6,600	e	Giken Seisakusho Co, Inc		181
	188,215		Global Brass & Copper Holdings, Inc		6,362
	89,156		Glory Ltd		3,161
	1,348,263	*	GMR Infrastructure Ltd		339

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	255,901	*	GMS, Inc	$	9,059
	44,999		Gorman-Rupp Co		1,466
	134,839		Graco, Inc		16,678
	427,024		Grafton Group plc		4,755
	17,199		Graham Corp		358
	72,682	e	Grana y Montero S.A. (ADR)		350
	130,020		Granite Construction, Inc		7,535
	102,001	*	Great Lakes Dredge & Dock Corp		495
	52,066		Greaves Cotton Ltd		109
	53,483	e	Greenbrier Cos, Inc		2,575
	69,459		Griffon Corp		1,542
	323,284		Grupo Carso S.A. de C.V. (Series A1)		1,274
	73,000	e	Grupo Rotoplas SAB de C.V.		115
	49,951	*,e	GS Engineering & Construction Corp		1,166
	258,000		GS Yuasa Corp		1,356
	1,511,593		Gunkul Engineering PCL		182
	651,379		GWA International Ltd		1,338
	58,342		H&E Equipment Services, Inc		1,704
	683,813		Haitian International Holdings Ltd		1,968
	36,930		Haldex AB		457
	98,159		Halim Co Ltd		305
	189,096	*	Hangzhou Steam Turbine Co		207
	44,183	*	Hanjin Heavy Industries & Construction Co Ltd		147
	459,879		Hanwa Co Ltd		16,516
	113,121		Hanwha Corp		4,361
	34,375		Hanwha Corp (3P)		568
	506,200		HAP Seng Consolidated BHD		1,091
	1,810,000		Harbin Power Equipment		865
	24,162		Hardinge, Inc		369
	17,600	e	Harmonic Drive Systems, Inc		911
	491,021	*	Harsco Corp		10,262
	232,269		Havells India Ltd		1,721
	479,200		Hazama Ando Corp		3,354
	187,978	*	HC2 Holdings, Inc		993
	894,031	*,n	HD Supply Holdings, Inc		32,248
	56,610		HEICO Corp		5,084
	167,167		HEICO Corp (Class A)		12,738
	145,767	*	Heidelberger Druckmaschinen		596
	330,259	*	Hellenic Technodomiki Tev S.A.		613
	101,804	*	Herc Holdings, Inc		5,002
	50,411	*,e	Hexagon Composites ASA		175
	64,769		Hexcel Corp		3,719
	39,500		Hibiya Engineering Ltd		820
	133,196		Hillenbrand, Inc		5,175
	337,422	*	Hindustan Construction Co		177
	77,720		Hino Motors Ltd		951
	13,400	e	Hirata Corp		1,361
	10,700		Hisaka Works Ltd		91
	17,991		Hitachi Construction Machinery Co Ltd		533
	103,400		Hitachi Zosen Corp		549
	166,977		Hiwin Technologies Corp		1,478
	37,710		Hochtief AG.		6,369
	35		Hock Seng Lee BHD		0	^
	4,578,205		Honeywell International, Inc		648,915
	65,600		Hong Leong Industries BHD		146
	949,300		Hopewell Holdings		3,702

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,009		Hoshizaki Electric Co Ltd	$	2,373
	89,642		Hosken Consolidated Investments Ltd		866
	1,777,340		Howden Joinery Group plc		10,271
	2,285,000	*,†,e,m	Hsin Chong Construction Group Ltd		77
	83,400		Huangshi Dongbei Electrical Appliance Co Ltd		145
	79,183		Hubbell, Inc		9,187
	7,195		Huber & Suhner AG.		441
	50,460		Hudaco Industries Ltd		473
	165,382		Huntington Ingalls		37,449
	10,645		Hurco Cos, Inc		443
	46,495	*,e	Huttig Building Products, Inc		328
	6,148		Hy-Lok Corp		113
	62,211		Hyster-Yale Materials Handling, Inc		4,755
	1,291	*,e	Hyundai Construction Equipment Co Ltd		422
	21,472		Hyundai Corp		392
	61,054		Hyundai Development Co		1,909
	1,334	*	Hyundai Electric & Energy System Co Ltd		268
	8,613		Hyundai Elevator Co Ltd		376
	77,200		Hyundai Engineering & Construction Co Ltd		2,594
	23,232	*	Hyundai Heavy Industries		2,957
	7,658	*	Hyundai Mipo Dockyard		632
	15,947	*	Hyundai Rotem Co Ltd		247
	41,000		Idec Corp		843
	114,950		IDEX Corp		13,963
	16,254	*	IES Holdings, Inc		281
	3,182,812		IJM Corp BHD		2,487
	254,769		Illinois Tool Works, Inc		37,696
	72,335		IMARKETKOREA, Inc		608
	302,890		IMI plc		5,047
	9,667		Implenia AG.		640
	103,163		Impregilo S.p.A.		407
	29,627		IMS-Intl Metal Service		984
	50,400		Inaba Denki Sangyo Co Ltd		2,092
	112,600		Inabata & Co Ltd		1,503
	37,576		Indus Holding AG.		2,781
	46,544		Industria Macchine Automatiche S.p.A.		4,422
	138,055		Industries Qatar QSC		3,484
	55,587	e	Indutrade AB		1,468
	1,743,346		Ingersoll-Rand plc		155,454
	32,289		Insteel Industries, Inc		843
	44,039		Interpump Group S.p.A.		1,371
	96,926		Invicta Holdings Ltd		358
	171,051		Inwido AB		2,179
	52,200		Iochpe-Maxion S.A.		354
	313,580		IRB Infrastructure Developers Ltd		1,024
	28,634		IS Dongseo Co Ltd		822
	53,200		Iseki & Co Ltd		1,189
	4,171		ISGEC Heavy Engineering Ltd		411
	2,298,624		Ishikawajima-Harima Heavy Industries Co Ltd		80,127
	835,450		Italian-Thai Development PCL		107
	29,138		Italmobiliare S.p.A		787
	1,924,094		Itochu Corp		31,526
	166,221		ITT, Inc		7,359
	145,000		Iwatani International Corp		4,417
	276,779		Jacobs Engineering Group, Inc		16,128
	958,199	*	Jain Irrigation Systems Ltd		1,391

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	694,673	*	Jaiprakash Associates Ltd	$	191
	5,700	e	Jamco Corp		126
	19,960		Japan Pulp & Paper Co Ltd		812
	43,000		Japan Steel Works Ltd		990
	229,714		Jardine Matheson Holdings Ltd		14,569
	269,300		Jardine Strategic Holdings Ltd		11,647
	348,741	*	JELD-WEN Holding, Inc		12,387
	2,793,357		JG Summit Holdings (Series B)		4,124
	26,681		JGC Corp		432
	60,298		John Bean Technologies Corp		6,096
	4,938,400		John Keells Holdings plc		5,242
	766,027	g	John Laing Group plc		2,928
	648,668		Johnson Controls International plc		26,135
	859,875		Johnson Electric Holdings Ltd		3,296
	1,051,091		JTEKT Corp		14,550
	29,276		Jungheinrich AG.		1,348
	2,120		JVM Co Ltd		99
	102,948		Kadant, Inc		10,146
	73,264		Kajaria Ceramics Ltd		796
	1,538,938		Kajima Corp		15,296
	25,040		Kalpataru Power Transmission Ltd		141
	163,100	*	Kama Co Ltd		184
	52,040		Kaman Corp		2,903
	51,900		Kamei Corp		850
	97,500		Kanamoto Co Ltd		3,080
	296,000		Kandenko Co Ltd		3,110
	136,400		Kanematsu Corp		1,743
	1,680,911		KAP Industrial Holdings Ltd		1,052
	3,824		Kardex AG.		455
	30,100		Katakura Industries Co Ltd		363
	87,899		Kato Works Co Ltd		2,629
	16,548		Kawasaki Heavy Industries Ltd		549
	434,791		KBR, Inc		7,774
	5,658		KCC Corp		1,854
	149,883		KEC International Ltd		706
	65,629		Keihan Electric Railway Co Ltd		1,922
	67,827		Keller Group plc		744
	20,717		Kendrion NV		906
	725,917		Kennametal, Inc		29,283
	8,524		KEPCO Engineering & Construction Co, Inc		135
	1,021,177		Keppel Corp Ltd		4,903
	95,424	*,e	KEYW Holding Corp, The		726
	60,353		Kier Group plc		941
	216,700		Kinden Corp		3,493
	37,000		King Slide Works Co Ltd		504
	350,576		Kingspan Group plc		14,908
	75,000		Kinik Co		189
	54,996		KION Group AG.		5,268
	53,800		Kitz Corp		439
	483,934		Kloeckner & Co AG.		6,215
	134,614	*	KLX, Inc		7,125
	1,551,673		KOC Holding AS		7,118
	23,220		Koenig & Bauer AG.		1,916
	3,776		Kolon Corp		216
	320,783		Komatsu Ltd		9,084
	2,380		Komax Holding AG.		685

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,790		Komori Corp	$	388
	136,165		Kone Oyj (Class B)		7,218
	70,474		Konecranes Oyj		3,130
	144,074		Koninklijke BAM Groep NV		824
	71,216		Korea Aerospace Industries Ltd		2,721
	3,412		Korea Electric Terminal Co Ltd		223
	17,423	*,e	Kornit Digital Ltd		267
	140,172	*,e	Kratos Defense & Security Solutions, Inc		1,833
	10,268	e	Krones AG.		1,428
	972,000	*,e	KuangChi Science Ltd		389
	409,858		Kubota Corp		7,456
	97,800		Kumagai Gumi Co Ltd		2,953
	43,323		Kumho Industrial Co Ltd		361
	205,000		Kung Long Batteries Industrial Co Ltd		998
	49,098		Kurita Water Industries Ltd		1,419
	58,470		Kuroda Electric Co Ltd		1,020
	44,607		Kushal Tradelink Ltd		83
	56,600		Kyokuto Kaihatsu Kogyo Co Ltd		955
	242,300		Kyowa Exeo Corp		4,815
	30,900		Kyudenko Corp		1,199
	3,608		Kyung Dong Navien Co Ltd		108
	251,150		L3 Technologies, Inc		47,324
	1,881		Lakshmi Machine Works Ltd		164
	938,583	g	Larsen & Toubro Ltd		16,435
	14,156	*	Lawson Products, Inc		357
	36,102	*,e	Layne Christensen Co		453
	16,281	*	LB Foster Co (Class A)		370
	42,702		Legrand S.A.		3,082
	15,015		Lehto Group Oyj		226
	85,697		Lennox International, Inc		15,337
	365,155		LG Corp		25,784
	24,903		LG Hausys Ltd		1,942
	18,217		LG International Corp		435
	146,796		Lincoln Electric Holdings, Inc		13,458
	43,523		Lindab International AB		462
	19,594		Lindsay Corp		1,801
	4,514		Lion Chemtech Co Ltd		52
	29,803		LISI		1,562
	489,865		LIXIL Group Corp		13,009
	516,037		Lockheed Martin Corp		160,121
	1,241,000		Lonking Holdings Ltd		527
	67,357		LS Cable Ltd		4,648
	9,600		LS Industrial Systems Co Ltd		455
	110,985		LSI Industries, Inc		734
	64,006	e,g	Luceco plc		196
	152,000	*,e	Luoyang Glass Co Ltd		87
	58,274	*	Lydall, Inc		3,339
	36,985		Mabuchi Motor Co Ltd		1,853
	22,557		MacDonald Dettwiler & Associates Ltd		1,283
	1,357,500		Maeda Corp		16,606
	12,400		Maeda Kosen Co Ltd		204
	285,000		Maeda Road Construction Co Ltd		6,138
	29,803		Magellan Aerospace Corp		428
	1,500,425	e	Maire Tecnimont S.p.A		8,312
	65,748		Makino Milling Machine Co Ltd		585
	54,514		Makita Corp		2,200

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,879,700		Malaysian Resources Corp BHD	$	473
	22,167		MAN AG.		2,502
	16,318		Manitou BF S.A.		612
	238,777		Manitowoc Co, Inc		2,149
	319,000		Marcopolo S.A.		438
	1,380,458		Marubeni Corp		9,437
	2,236,560		Masco Corp		87,248
	112,545	*	Masonite International Corp		7,788
	127,699	*	Mastec, Inc		5,925
	55,000		Max Co Ltd		762
	764,651		Meggitt plc		5,341
	134,000	e	Meidensha Corp		512
	1,204,309		Melrose Industries plc		3,436
	89,882	*	Mercury Systems, Inc		4,663
	197,981	*	Meritor, Inc		5,149
	8,400		METAWATER Co Ltd		231
	14,035		Metso Oyj		515
	213,009		Micron Machinery Co Ltd		2,421
	170,323	*	Middleby Corp		21,830
	163,087	*	Milacron Holdings Corp		2,750
	20,000	*	Millat Tractors Ltd		237
	20,282		Miller Industries, Inc		567
	744,000		Minebea Co Ltd		11,653
	549,500		Miraito Holdings Corp		6,612
	321,000		MISUMI Group, Inc		8,461
	1,813,787		Mitsubishi Corp		42,199
	725,357		Mitsubishi Electric Corp		11,347
	77,591		Mitsubishi Heavy Industries Ltd		3,068
	24,300	e	Mitsubishi Nichiyu Forklift Co Ltd		174
	85,700		Mitsuboshi Belting Co Ltd		1,034
	2,329,369		Mitsui & Co Ltd		34,453
	45,900		Mitsui Engineering & Shipbuilding Co Ltd		599
	75,500		Miura Co Ltd		1,663
	3,138,230		MMC Corp BHD		1,546
	265,826		Monadelphous Group Ltd		3,283
	86,500	e	MonotaRO Co Ltd		2,314
	103,264	*	Moog, Inc (Class A)		8,615
	541,549		Morgan Crucible Co plc		2,258
	81,300		Mori Seiki Co Ltd		1,462
	19,100		Morita Holdings Corp		297
	317,173		Mota Engil SGPS S.A.		1,189
	375,783	*	MRC Global, Inc		6,572
	125,432		MSC Industrial Direct Co (Class A)		9,479
	128,370		MTU Aero Engines Holding AG.		20,500
	133,563		Mueller Industries, Inc		4,668
	674,061		Mueller Water Products, Inc (Class A)		8,628
	239,100		Muhibbah Engineering M BHD		156
	1,007,554		Murray & Roberts Holdings Ltd		1,191
	133,407	*	MYR Group, Inc		3,887
	65,227		Nabtesco Corp		2,427
	101,332		Nachi-Fujikoshi Corp		571
	907,485		Nagarjuna Construction Co		1,155
	65,900		Nagase & Co Ltd		1,105
	92,000		Namura Shipbuilding Co Ltd		543
	335,299		National Central Cooling Co PJSC		189
	9,800	e	National Presto Industries, Inc		1,043

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	212,892	*,e	Navistar International Corp	$	9,382
	98,177		NCC AB (B Shares)		2,331
	142,001	*	NCI Building Systems, Inc		2,215
	4,700		NEC Capital Solutions Ltd		90
	105,487	*	Neff Corp		2,637
	148,257		New Flyer Industries, Inc		6,120
	17,559		Nexans S.A.		1,041
	44,953	*,e	Nexeo Solutions, Inc		328
	83,151		NGK Insulators Ltd		1,558
	219,395	e	Nibe Industrier AB		2,212
	344,424		Nichias Corp		4,256
	21,200		Nichiden Corp		436
	20,600		Nichiha Corp		773
	61,225		Nidec Corp		7,526
	2,600	e	Nihon Trim Co Ltd		114
	49,000		Nippo Corp		1,049
	19,800		Nippon Densetsu Kogyo Co Ltd		417
	7,800		Nippon Koei Co Ltd		266
	11,000		Nippon Road Co Ltd		610
	396,730	*,e	Nippon Sharyo Ltd		1,066
	55,700	*	Nippon Sheet Glass Co Ltd		433
	101,645		Nippon Steel Trading Co Ltd		5,607
	224,300		Nippon Thompson Co Ltd		1,244
	208,000		Nishimatsu Construction Co Ltd		6,014
	11,600		Nishio Rent All Co Ltd		387
	539,300		Nisshinbo Industries, Inc		6,383
	109,100		Nissin Electric Co Ltd		1,345
	12,700		Nitta Corp		462
	21,400		Nitto Boseki Co Ltd		657
	15,400		Nitto Kogyo Corp		272
	6,573		Nitto Kohki Co Ltd		161
	16,684		NKT Holding AS		1,431
	52,057		NN, Inc		1,510
	681,580	*,e	Noble Group Ltd		199
	44,356		Nolato AB (B Shares)		2,143
	38,843	*,e	Nordex AG.		444
	155,294		Nordson Corp		18,402
	28,791		Noritake Co Ltd		1,378
	18,100		Noritz Corp		326
	19,774		NORMA Group		1,303
	788,810		Northrop Grumman Corp		226,956
	19,323	*	Northwest Pipe Co		368
	208,363	*,e	NOW, Inc		2,877
	94,231		NSK Ltd		1,272
	2,325,000	e	NTN Corp		9,852
	15,827	*	NV5 Holdings, Inc		865
	3,017,490	e	NWS Holdings Ltd		5,898
	7,500		Obara Corp		425
	806,615		Obayashi Corp		9,675
	75,434	e	Obrascon Huarte Lain S.A.		273
	525,899		OC Oerlikon Corp AG.		8,103
	2,798		OHB AG.		135
	120,000		Oiles Corp		2,226
	19,500		Okabe Co Ltd		184
	18,528		Okuma Holdings, Inc		1,015
	94,000		Okumura Corp		3,596

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,871		Omega Flex, Inc	$	422
	49,687	*	Orascom Construction Ltd		335
	140,420		Orbital ATK, Inc		18,698
	4,400		Organo Corp		109
	184,659	*	Orion Marine Group, Inc		1,211
	43,700	e	OSG Corp		995
	183,696		Oshkosh Truck Corp		15,162
	78,300	e	OSJB Holdings Corp		231
	15,473		Osram Licht AG.		1,236
	5,487		Otokar Otobus Karoseri Sanayi AS		156
	82,517	*,e	Outotec Oyj		653
	1,520,227		Owens Corning, Inc		117,590
	481,299		PACCAR, Inc		34,817
	300,000		Pantaloon Retail India Ltd		235
	1,027,117		Parker-Hannifin Corp		179,766
	31,315	*	Patrick Industries, Inc		2,634
	664,440		Peab AB (Series B)		7,339
	111,673		Pentair plc		7,589
	727,600		Penta-Ocean Construction Co Ltd		4,594
	34,399		PER Aarsleff A.S.		1,011
	311,600		PESTECH International Bhd		115
	20,176		Pfeiffer Vacuum Technology AG.		3,182
	94,987	*	PGT, Inc		1,420
	246,425	g	Philips Lighting NV		9,946
	8,293		Pinguely-Haulotte		157
	412,702	*,e	Plug Power, Inc		1,077
	146,902	*	Ply Gem Holdings, Inc		2,505
	47,776		PNC Infratech Ltd		101
	457,527		Polypipe Group plc		2,585
	23,283		Ponsse Oy		656
	7,703	e	Porr AG.		243
	16,460		Powell Industries, Inc		494
	6,595		Preformed Line Products Co		444
	96,907		Primoris Services Corp		2,851
	47,960	*	Proto Labs, Inc		3,851
	47,998		Prysmian S.p.A.		1,622
	1,132,632		PT Adhi Karya Persero Tbk		168
	1,852,400		PT AKR Corporindo Tbk		976
	5,000,000		PT Arwana Citramulia Tbk		156
	1,217,100		PT Asahimas Flat Glass Tbk		587
	2,803,600	*,†,m	PT Inovisi Infracom Tbk		24
	1,955,788		PT Pembangunan Perumahan Tbk		336
	2,245,700	*	PT Sitara Propertindo Tbk		123
	8,228,200		PT Surya Semesta Internusa Tbk		358
	4,727,500		PT Waskita Karya Persero Tbk		624
	1,944,123		PT Wijaya Karya		259
	1,721,513		QinetiQ plc		5,700
	66,255		Quanex Building Products Corp		1,521
	724,738	*	Quanta Services, Inc		27,083
	190,600		Raito Kogyo Co Ltd		1,896
	46,656		Ramirent Oyj		482
	121,813		Randon Participacoes S.A.		266
	2,111		Rational AG.		1,453
	223,266		Raubex Group Ltd		327
	95,145		Raven Industries, Inc		3,083
	1,248,122		Raytheon Co		232,875

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,262	*	RBC Bearings, Inc	$	5,665
	547,917		Rechi Precision Co Ltd		548
	113,618		Regal-Beloit Corp		8,976
	565,487	e	Reliance Worldwide Corp Ltd		1,753
	427,515		Reunert Ltd		2,138
	24,169	e	REV Group, Inc		695
	25,862	*,e	Revolution Lighting Technologies, Inc		168
	644,937		Rexel S.A.		11,157
	199,636	*	Rexnord Corp		5,073
	122,506		Rheinmetall AG.		13,817
	1,856		Rieter Holding AG.		396
	375,573		Rockwell Automation, Inc		66,931
	353,070		Rockwell Collins, Inc		46,150
	5,300		Rockwool International AS (B Shares)		1,439
	1,078,819		Rolls-Royce Group plc		12,832
	631,590		Roper Industries, Inc		153,729
	535,963		Rotork plc		1,873
	92,000		Run Long Construction Co Ltd		107
	21,275	*	Rush Enterprises, Inc		928
	223,723	*	Rush Enterprises, Inc (Class A)		10,356
	166,362		Russel Metals, Inc		3,677
	217,600		Ryobi Ltd		5,864
	14,685		S&T Dynamics Co Ltd		104
	39,730		Saab AB (Class B)		2,019
	254,622	*	Sacyr Vallehermoso S.A.		669
	100,455		Sadbhav Engineering Ltd		453
	386,432		Safran S.A.		39,489
	501,706		Salfacorp S.A.		723
	6,589		Sam Yung Trading Co Ltd		99
	80,609	*	Samsung Engineering Co Ltd		777
	206,702	*	Samsung Heavy Industries Co Ltd		2,028
	32,135		Samsung Techwin Co Ltd		933
	78,623		San Shing Fastech Corp		156
	1,464,190		Sandvik AB		25,288
	26,900		Sanki Engineering Co Ltd		302
	50,000		Sanko Gosei Ltd		202
	14,800		Sankyo Tateyama, Inc		210
	286,800		Sanwa Shutter Corp		3,294
	652,000	*	Sany Heavy Equipment International		119
	5,200		Sanyo Denki Co Ltd		294
	28,905		Schindler Holding AG.		6,388
	15,489		Schindler Holding AG. (Registered)		3,336
	33,577	*	Schneider Electric Infrastructure Ltd		61
	2,385,242		Schneider Electric S.A.		207,709
	721		Schweiter Technologies AG.		925
	447,391		Seibu Holdings, Inc		7,642
	118,400		Sekisui Jushi Corp		2,196
	737,883	e	SembCorp Industries Ltd		1,615
	460,800	e	SembCorp Marine Ltd		595
	6,311	e	Semperit AG. Holding		194
	256,016		Senior plc		947
	348,816	*,e	Sensata Technologies Holding BV		16,768
	17,879	*	Senvion S.A.		248
	51,934		Seven Network Ltd		491
	10,407		SFS Group AG.		1,268
	78,948	*,e	SGL Carbon AG.		1,337

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	163,708	*	SGSB Group Co Ltd	$	170
	69,100	*	Shanghai Automation Instrumentation Co Ltd		124
	11,096,000	e	Shanghai Dasheng Agricultural Finance Technology Co Ltd		881
	230,980		Shanghai Diesel Engine Co Ltd		186
	3,081,025	*,e	Shanghai Electric Group Co Ltd		1,359
	194,600		Shanghai Highly Group Co Ltd		174
	2,057,508		Shanghai Industrial Holdings Ltd		6,246
	1,964,000		Shanghai Prime Machinery Co Ltd		416
	198,971		Shapir Engineering and Industry Ltd		686
	22,100		Shibuya Kogyo Co Ltd		719
	623,693		Shikun & Binui Ltd		1,528
	14,700		Shima Seiki Manufacturing Ltd		775
	178,051		Shimizu Corp		1,974
	94,000		Shin Zu Shing Co Ltd		253
	202,690		Shinmaywa Industries Ltd		1,842
	14,600		Shinnihon Corp		113
	29,200		SHO-BOND Holdings Co Ltd		1,664
	1,404,867		Siemens AG.		198,240
	114,136		Siemens India Ltd		2,081
	5,809	e	SIF Holding NV		124
	347,808		SIG plc		829
	2,375,260		Sime Darby BHD		5,075
	160,809		Simpson Manufacturing Co, Inc		7,886
	3,630,000	*	Singamas Container Holdings Ltd		806
	1,669,487		Singapore Technologies Engineering Ltd		4,243
	11,200		Sinko Industries Ltd		188
	430,957		Sino Thai Engineering & Construction PCL		333
	1,292,996		Sinopec Engineering Group Co Ltd		1,140
	2,135,000		Sinotruk Hong Kong Ltd		2,970
	799,366	*	Sintex Plastics Technology Ltd		1,112
	85,600		Sintokogio Ltd		927
	65,201	*	SiteOne Landscape Supply, Inc		3,788
	69,323		SK C&C Co Ltd		17,483
	129,286		SK Networks Co Ltd		816
	194,636		Skanska AB (B Shares)		4,513
	69,883		SKF AB (B Shares)		1,526
	2,876,800		SKP Resources BHD		1,023
	12,890,000	e	Skyway Securities Group Ltd		1,107
	29,250	*,e	SLM Solutions Group AG.		1,232
	192,640		SM Investments Corp		3,351
	34,492		SMC Corp		12,188
	264,739		Smiths Group plc		5,599
	148,831		Snap-On, Inc		22,177
	127,091		SNC-Lavalin Group, Inc		5,744
	99,300	e	Sodick Co Ltd		1,231
	3,206,700		Sojitz Holdings Corp		8,873
	9,082		Solar Holdings AS (B Shares)		553
	10,954		Somany Ceramics Ltd		144
	56,243	*	Sparton Corp		1,305
	81,178		Spirax-Sarco Engineering plc		6,014
	400,743		Spirit Aerosystems Holdings, Inc (Class A)		31,146
	417,961	*	SPX Corp		12,263
	406,959	*	SPX FLOW, Inc		15,692
	32,921		Standex International Corp		3,496
	563,977		Stanley Works		85,144

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,100		Star Micronics Co Ltd	$	346
	39,738	*	Ste Industrielle d'Aviation Latecoere S.A.		274
	76,433	*	Sterling Construction Co, Inc		1,164
	8,467		Sulzer AG.		1,000
	1,699,670		Sumitomo Corp		24,471
	10,000		Sumitomo Densetsu Co Ltd		185
	852,898		Sumitomo Heavy Industries Ltd		34,235
	762,440		Sumitomo Mitsui Construction C		4,409
	638,000	*	Summit Ascent Holdings Ltd		90
	45,381		Sun Hydraulics Corp		2,451
	12,272		Sung Kwang Bend Co Ltd		100
	164,587	*,e	Sunrun, Inc		913
	81,000		Sunspring Metal Corp		101
	1,742,522		Sunway Construction Group BHD		941
	9,235,589	*	Suzlon Energy Ltd		2,211
	44,213	e	Sweco AB (B Shares)		1,083
	1,103,000		Syncmold Enterprise Corp		2,527
	62,900		Tadano Ltd		736
	5,198	*	Taewoong Co Ltd		76
	26,456	*	Taeyoung Engineering & Construction		195
	1,025,000	e	Tai United Holdings Ltd		176
	41,500		Taihei Dengyo Kaisha Ltd		1,093
	15,400		Taikisha Ltd		425
	434,819		Taisei Corp		22,803
	749,670	*	Taiwan Glass Industrial Corp		383
	219,693		Takamatsu Corp		6,089
	22,264		Takara Standard Co Ltd		384
	50,500		Takasago Thermal Engineering Co Ltd		835
	20,600		Takeuchi Manufacturing Co Ltd		431
	78,600		Takuma Co Ltd		956
	124,580	e,g	Talgo S.A.		695
	72,178		Tarkett S.A.		3,252
	23,000		Tatsuta Electric Wire and Cable Co Ltd		175
	292,300	*	Tebrau Teguh BHD		87
	1,770,679		Teco Electric and Machinery Co Ltd		1,588
	11,500		Teikoku Sen-I Co Ltd		234
	98,727		Tekfen Holding AS		324
	41,800		Tekken Corp		1,346
	84,538	*	Teledyne Technologies, Inc		13,457
	33,286		Tennant Co		2,204
	2,695,774		Terex Corp		121,364
	49,473	e	Textainer Group Holdings Ltd		848
	3,191,778		Textron, Inc		171,973
	134,980		Thales S.A.		15,287
	23,512	*,e	The ExOne Company		267
	37,446		Thermax Ltd		545
	64,414	*	Thermon Group Holdings		1,159
	159,292		THK Co Ltd		5,433
	54,598		Timken Co		2,651
	11,540		Timken India Ltd		137
	94,309		Titan International, Inc		957
	83,156	*	Titan Machinery, Inc		1,291
	87,147		TKH Group NV		5,661
	7,100	*	Toa Corp/Tokyo		138
	29,700		Tocalo Co Ltd		1,147
	403,000		Toda Corp		3,143

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,200		Toenec Corp	$	155
	257,200		Tokai Corp		1,989
	88,460		Tokyu Construction Co Ltd		726
	331,483		Toro Co		20,572
	110,639		Toromont Industries Ltd		5,074
	674,443	*	Toshiba Corp		1,891
	72,964		Toshiba Machine Co Ltd		399
	30,100		Toshiba Plant Systems & Services Corp		506
	54,800		Totetsu Kogyo Co Ltd		1,805
	16,600		Toto Ltd		700
	1,046,300		Toyo Construction Co Ltd		4,814
	17,400	e	Toyo Engineering Corp		212
	6,200		Toyo Tanso Co Ltd		148
	242,836		Toyota Tsusho Corp		7,981
	78,893	*	TPI Composites, Inc		1,762
	3,365,861		Trakya Cam Sanayi AS		3,428
	71,408		TransDigm Group, Inc		18,255
	1,115,653		Travis Perkins plc		21,647
	399,990		Trelleborg AB (B Shares)		10,026
	108,673		Trencor Ltd		305
	76,008	*	Trex Co, Inc		6,846
	92,726	*	Trimas Corp		2,504
	132,614		Trinity Industries, Inc		4,230
	83,524		Triton International Ltd		2,780
	571,860		Triumph Group, Inc		17,013
	26,600		Trusco Nakayama Corp		649
	13,500	e	Tsubaki Nakashima Co Ltd		284
	397,000		Tsubakimoto Chain Co		3,173
	35,000		Tsugami Corp		296
	16,500		Tsukishima Kikai Co Ltd		200
	9,400		Tsurumi Manufacturing Co Ltd		167
	1,973,715		Turk Sise ve Cam Fabrikalari AS		2,271
	8,755		Turk Traktor ve Ziraat Makineleri AS		191
	71,073	*	Tutor Perini Corp		2,018
	17,639	*	Twin Disc, Inc		328
	445,700		UEM Edgenta BHD		282
	48,013		Ultra Electronics Holdings		1,157
	5,500		Union Tool Co		171
	459,100		Unique Engineering & Construction PCL		255
	296,200		United Engineers Ltd		592
	1,667,000		United Integrated Services Co Ltd		2,825
	304,459	*	United Rentals, Inc		42,241
	645,547		United Technologies Corp		74,935
	293,423	*	Univar, Inc		8,489
	132,013		Universal Forest Products, Inc		12,958
	33,966		Uponor Oyj		589
	1,530,870	*,e	USG Corp		49,983
	468,600		Ushio, Inc		6,254
	332,597		Valmet Corp		6,539
	53,176		Valmont Industries, Inc		8,407
	225,100		Vanachai Group PCL		87
	43,335	g	VAT Group AG.		5,999
	209,610	*	Vectrus, Inc		6,464
	29,840	*	Veritiv Corp		970
	159,465		Vestas Wind Systems AS		14,334
	158,160		Vesuvius plc		1,251

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,297		V-Guard Industries Ltd	$	199
	33,737	*	Vicor Corp		796
	1,083,888		Vinci S.A.		102,984
	1,702,000	*,e	Vision Fame International Holding Ltd		114
	63,731		Voltas Ltd		494
	33,995		Voltronic Power Technology Corp		611
	1,356,243		Volvo AB (B Shares)		26,186
	9,488	*	Vossloh AG.		641
	38,521	e	W.W. Grainger, Inc		6,924
	114,446		Wabash National Corp		2,612
	221,416	*	WABCO Holdings, Inc		32,770
	107,598	e	Wabtec Corp		8,151
	17,460		Wacker Construction Equipment AG.		580
	26,365		Wajax Income Fund		431
	113,500		Wakita & Co Ltd		1,373
	10,982,000		Walsin Lihwa Corp		5,027
	2,379		Walter Meier AG.		100
	94,908		Wartsila Oyj (B Shares)		6,719
	69,766		Watsco, Inc		11,237
	101,806		Watts Water Technologies, Inc (Class A)		7,045
	1,716,636		WCT Berhad		711
	483,818		Weg S.A.		3,269
	16,056,284		Weichai Power Co Ltd		17,709
	1,223,728		Weir Group plc		32,210
	976,322	*	Welbilt, Inc		22,504
	4,066,000		Welling Holding Ltd		739
	109,849	*	Wesco Aircraft Holdings, Inc		1,033
	176,931	*	WESCO International, Inc		10,306
	7,549	*	Willis Lease Finance Corp		186
	32,550		Wilson Bayly Holmes-Ovcon Ltd		355
	274,733		Wolseley plc		18,025
	102,040		Woodward Governor Co		7,919
	144,984		WSP Global, Inc		6,032
	79,112		Xxentria Technology Materials Corp		179
	133,496		Xylem, Inc		8,361
	17,600		Yahagi Construction Co Ltd		151
	19,700		YAMABIKO Corp		271
	33,400		Yamazen Corp		362
	7,113,918		Yangzijiang Shipbuilding		7,520
	23,149		Yazicilar Holding AS		127
	74,435	e	YIT Oyj		609
	70,600		Yokogawa Bridge Holdings Corp		1,370
	60,500		Yuasa Trading Co Ltd		2,139
	765,000		Yungtay Engineering Co Ltd		1,424
	208,000		Yurtec Corp		1,630
	4,900	e	Yushin Precision Equipment Co Ltd		138
	128,591		Zardoya Otis S.A.		1,423
	6,511		Zehnder Group AG.		229
	164,400		Zhengzhou Coal Mining Machinery Group Co Ltd		108
	521,441		Zhuzhou CSR Times Electric Co Ltd		2,927
	126,829		Zodiac S.A.		3,667
	16,759		Zumtobel AG.		291
			TOTAL CAPITAL GOODS		10,163,787
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
	45,600	*,e	51job, Inc (ADR)		2,764

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	123,566		ABM Industries, Inc	$	5,154
	270,174	*	Acacia Research (Acacia Technologies)		1,229
	280,044	*	ACCO Brands Corp		3,333
	491,079		Adecco S.A.		38,257
	294,609	*	Advanced Disposal Services, Inc		7,421
	78,046	*	Advisory Board Co		4,185
	12,400		Aeon Delight Co Ltd		466
	113,044		AF AB		2,643
	159,947	e	Aggreko plc		2,012
	1,192,676		ALS Ltd		7,337
	10,230		Amadeus Fire AG		952
	121,327		American Banknote S.A.		780
	82,177		Applus Services S.A.		1,029
	179,666	*	ARC Document Solutions, Inc		735
	14,024		Assystem		547
	639,001		Babcock International Group		7,087
	17,862		Barrett Business Services, Inc		1,010
	376,000	*	Beijing Development HK Ltd		58
	25,500		Bell System24 Holdings, Inc		279
	20,600		Benefit One, Inc		406
	3,394	e	Bertrandt AG.		342
	13,162		BG Staffing, Inc		218
	286,441	g	Biffa plc		901
	292,362	e	Bilfinger Berger AG.		12,261
	254,879		Blue Label Telecoms Ltd		329
	166,173		Brady Corp (Class A)		6,306
	1,665,207		Brambles Ltd		11,786
	293,792	g	Bravida Holding AB		2,152
	156,637		Brink's Co		13,197
	12,050	e	Brunel International NV		192
	219,057		Bureau Veritas S.A.		5,653
	176,823		Cabcharge Australia Ltd		252
	567,740		Capita Group plc		4,296
	3,558,000	*,e	Capital Environment Holdings Ltd		163
	265,653	*	Casella Waste Systems, Inc (Class A)		4,994
	57,484	e	Caverion Corp		528
	388,533	*	CBIZ, Inc		6,314
	181,798		Ceco Environmental Corp		1,538
	15,276		Cewe Color Holding AG.		1,453
	2,203,951		China Everbright International Ltd		2,777
	532,000	e	China Greenland Broad Greenstate Group Co Ltd		103
	174,094		Cintas Corp		25,118
	118,464	*	Clean Harbors, Inc		6,717
	57,000		Cleanaway Co Ltd		320
	1,000,967		Cleanaway Waste Management Ltd		1,081
	40,979	*,e	Cogint, Inc		201
	3,117		Compx International, Inc		48
	960,882	*	Copart, Inc		33,026
	229,313	e	Covanta Holding Corp		3,405
	37,675		CRA International, Inc		1,547
	54,306		Dai Nippon Printing Co Ltd		1,302
	22,200		Daiseki Co Ltd		559
	175,541		De La Rue plc		1,525
	93,109		Deluxe Corp		6,793
	47,839		Derichebourg		502
	1,740,859		Downer EDI Ltd		9,276

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	96,720		Dun & Bradstreet Corp	$	11,259
	111,398		Duskin Co Ltd		3,140
	360,271	*,†,m	Dyax Corp		400
	976,000	e	Dynagreen Environmental Protection Group Co Ltd		531
	1,133,805		Edenred		30,822
	14,390	e	Elanders AB		176
	98,125		Elis S.A.		2,629
	43,000		en-japan, Inc		1,578
	51,500		Ennis, Inc		1,012
	73,701		Essendant, Inc		971
	1,335,856		Experian Group Ltd		26,833
	48,975		Exponent, Inc		3,619
	8,615		Fila S.p.A		192
	17,399	*	Franklin Covey Co		353
	79,709	*	FTI Consulting, Inc		2,828
	14,100		Funai Soken Holdings, Inc		434
	17,578		GL Events		583
	23,066	*	GP Strategies Corp		712
	458,000		Greentown Service Group Co Ltd		282
	1,330,649		Group 4 Securicor plc		4,964
	6,520		Groupe CRIT		622
	25,019		Gunnebo AB		127
	6,361,812		Hays plc		16,159
	136,594		Healthcare Services Group		7,372
	31,841		Heidrick & Struggles International, Inc		673
	86,078	*	Heritage-Crystal Clean, Inc		1,872
	162,779		Herman Miller, Inc		5,844
	67,522	*	Hill International, Inc		321
	83,702		HNI Corp		3,471
	446,635		HomeServe plc		4,979
	73,382	*,e	Hudson Technologies, Inc		573
	65,368	*	Huron Consulting Group, Inc		2,242
	51,567	*	ICF International, Inc		2,782
	731,699	*	IHS Markit Ltd		32,253
	4,477	*	Indiabulls Wholesale Service		4
	89,510	*	Innerworkings, Inc		1,007
	151,137		Insperity, Inc		13,300
	302,260		Interface, Inc		6,619
	93,674		Interserve plc		148
	199,930		Intertek Group plc		13,364
	38,437	e,g	Intertrust NV		624
	213,398	e	Intrum Justitia AB		7,546
	70,458	e	IPH Ltd		252
	191,469		ISS A.S.		7,719
	22,071		ITAB Shop Concept AB		173
	133,500		Itoki Corp		1,125
	423,528		IWG plc		1,757
	8,400		JAC Recruitment Co Ltd		131
	1,944		Kaba Holding AG.		1,983
	410,816		KAR Auction Services, Inc		19,612
	30,000		KD Holding Corp		163
	57,236		Kelly Services, Inc (Class A)		1,436
	24,051		KEPCO Plant Service & Engineering Co Ltd		872
	163,687		Kforce, Inc		3,306
	246,226		Kimball International, Inc (Class B)		4,868
	91,209		Knoll, Inc		1,824

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	235,700		Kokuyo Co Ltd	$	3,995
	221,414		Korn/Ferry International		8,730
	9,100		Kyodo Printing Co Ltd		309
	20,800	*,e	Link And Motivation, Inc		125
	175,542		Loomis AB		6,977
	62,504		LSC Communications, Inc		1,032
	328,023		Manpower, Inc		38,648
	24,762		Matsuda Sangyo Co Ltd		357
	59,854		Matthews International Corp (Class A)		3,726
	44,028		McGrath RentCorp		1,926
	76,091		McMillan Shakespeare Ltd		879
	230,631	m	Media General, Inc		0
	15,500		Meitec Corp		777
	1,147,556		Michael Page International plc		7,664
	48,052	*	Mistras Group, Inc		985
	223,972	e	Mitie Group		768
	24,144		Mitsubishi Pencil Co Ltd		607
	83,504		Mobile Mini, Inc		2,877
	44,114		Morneau Sobeco Income Fund		735
	28,400	e	Moshi Moshi Hotline, Inc		328
	130,794		MSA Safety, Inc		10,399
	26,745		Multi-Color Corp		2,192
	131,102	*	Navigant Consulting, Inc		2,218
	377,114		Nielsen NV		15,631
	77,700		Nihon M&A Center, Inc		3,802
	8,700		Nippon Kanzai Co Ltd		155
	125,200		Nippon Parking Development Co Ltd		185
	20,448	*	NL Industries, Inc		187
	75,100		Nomura Co Ltd		1,665
	265,343		Novus Holdings Ltd		127
	144,000		Okamura Corp		1,646
	211,939	*	On Assignment, Inc		11,377
	141,115		Outsourcing, Inc		1,965
	10,568		Oyo Corp		164
	77,100		Park24 Co Ltd		1,878
	22,981	*,e	Pendrell Corp		157
	39,000		Pilot Corp		1,865
	419,942		Pitney Bowes, Inc		5,883
	27,200		Prestige International, Inc		272
	600,475		Programmed Maintenance Services Ltd		1,421
	170,642		Prosegur Cia de Seguridad S.A.		1,276
	168,794		Quad Graphics, Inc		3,816
	274,061		Randstad Holdings NV		16,938
	252,000	*,e	Realord Group Holdings Ltd		136
	1,265,077		Recruit Holdings Co Ltd		27,393
	3,841,375		Rentokil Initial plc		15,478
	665,025		Republic Services, Inc		43,932
	53,448		Resources Connection, Inc		743
	66,473		Restore plc		466
	76,280	e	Ritchie Bros Auctioneers, Inc		2,412
	350,600		Riverstone Holdings Ltd		270
	348,013		Robert Half International, Inc		17,519
	220,602		Rollins, Inc		10,179
	219,476		RPS Group plc		848
	331,275	*	RPX Corp		4,399
	387,459		RR Donnelley & Sons Co		3,991

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,856		S1 Corp (Korea)	$	1,315
	17,152		Sato Corp		406
	179,254		Secom Co Ltd		13,054
	235,712		Securitas AB (B Shares)		3,952
	472,407		Seek Ltd		6,168
	681,217	*	Serco Group plc		1,053
	206,882		SG Fleet Group Ltd		641
	5,041		SGS S.A.		12,105
	100,500	*,†,m	Shanghai Youngsun Investment C		149
	248,800	*	Shanghai Zhongyida Co Ltd		108
	693,168	e	Shanks Group plc		945
	126,425		Shenzhen Dongjiang Environmental Co Ltd		189
	54,397		SmartGroup Corp Ltd		394
	28,521		Societe BIC S.A.		3,419
	46,900		Sohgo Security Services Co Ltd		2,153
	238,879	*	SP Plus Corp		9,436
	67,109		SPIE S.A.		1,846
	44,310		Sporton International, Inc		222
	12,136		Staffline Group plc		189
	77,379		Stantec, Inc		2,148
	162,358		Steelcase, Inc (Class A)		2,500
	196,220	*	Stericycle, Inc		14,053
	36,000		Sunny Friend Environmental Technology Co Ltd		227
	7,129		Synergie S.A		377
	194,660		Taiwan Secom Co Ltd		571
	320,020		Taiwan-Sogo Shinkong Security Corp		411
	90,000	e	Takeei Corp		967
	22,100		Tanseisha Co Ltd		272
	55,097	*,e	Team, Inc		736
	21,400		TechnoPro Holdings, Inc		1,015
	54,701		Teleperformance		8,161
	129,300		Temp Holdings Co Ltd		3,013
	206,619		Tetra Tech, Inc		9,618
	232,000	e	Tianjin Capital Environmental Protection Group Co Ltd		147
	29,600		Toppan Forms Co Ltd		314
	260,669		Toppan Printing Co Ltd		2,586
	11,000	e	Tosho Printing Co Ltd		105
	117,965	e	Tox Free Solutions Ltd		231
	221,700		Transcontinental, Inc		4,582
	285,291	*	TransUnion		13,483
	275,329	*	TriNet Group, Inc		9,257
	205,897	*	TrueBlue, Inc		4,622
	29,382		Unifirst Corp		4,451
	42,151		US Ecology, Inc		2,268
	304,716	*	Verisk Analytics, Inc		25,349
	38,477		Viad Corp		2,343
	15,846		VSE Corp		901
	125,803	*	WageWorks, Inc		7,636
	18		Waste Connections, Inc		1
	1,685,369		Waste Management, Inc		131,914
	150,598		West Corp		3,535
	21,177	*	Willdan Group, Inc		687
	199,877		Wolters Kluwer NV		9,237
	23,900	e	Yumeshin Holdings Co Ltd		166
	29,300	*	Zhaopin Ltd (ADR)		533
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,135,891

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
CONSUMER DURABLES & APPAREL - 2.0%
	426,000		361 Degrees International Ltd	$	187
	15,934	*	Accell Group NV		492
	44,492	e	Acushnet Holdings Corp		790
	259,458		Adidas-Salomon AG.		58,759
	33,654		Aksa Akrilik Kimya Sanayii		112
	298,000		Alpargatas S.A.		1,477
	27,300		Alpine Electronics, Inc		497
	465,220		Amer Sports Oyj (A Shares)		12,351
	108,779	*,e	American Outdoor Brands Corp		1,659
	361,157		AmTRAN Technology Co Ltd		196
	5,105,235		Anta Sports Products Ltd		21,469
	214,635		Arcelik AS		1,369
	29,700		Arezzo Industria e Comercio S.A.		469
	31,260	*,e	Aritzia, Inc		372
	82,379		Arvind Ltd		468
	208,538		Asics Corp		3,110
	19,748		Bajaj Electricals Ltd		107
	25,165	*	Bang & Olufsen AS (B Shares)		544
	1,749,722		Barratt Developments plc		14,415
	18,910		Bassett Furniture Industries, Inc		713
	74,000		Basso Industry Corp		207
	20,784		Bata India Ltd		220
	395,559	*	Beazer Homes USA, Inc		7,413
	418,219		Bellway plc		18,500
	70,515		Beneteau S.A.		1,225
	296,237		Berkeley Group Holdings plc		14,763
	598,000	e	Best Pacific International Holdings Ltd		337
	62,345	*	Bonava AB		1,010
	992,000		Bosideng International Holdings Ltd		92
	114,782		Bovis Homes Group plc		1,683
	211,526		Breville Group Ltd		1,881
	70,255		BRP, Inc		2,272
	69,149	e	Brunello Cucinelli S.p.A		2,144
	120,302		Brunswick Corp		6,733
	155,281		Burberry Group plc		3,666
	1,734,000	*	C.banner International Holdings Ltd		610
	6,215,967	*	Cairn Homes plc		12,618
	168,283		CalAtlantic Group, Inc		6,164
	832,975		Callaway Golf Co		12,020
	122,750		Carter's, Inc		12,122
	38,315	e	Casio Computer Co Ltd		540
	50,765	*	Cavco Industries, Inc		7,490
	24,582		CCC S.A.		1,859
	81,990	*	Century Communities, Inc		2,025
	16,711		Chargeurs S.A.		508
	2,915,400		China Dongxiang Group Co		509
	930,000		China Lilang Ltd		776
	1,131,000	*,†,m	China Longevity Group Co Ltd		1
	10,700		Chofu Seisakusho Co Ltd		252
	1,223		Christian Dior S.A.		392
	808,356		Cie Financiere Richemont S.A.		73,994
	944,000	e	Citychamp Watch & Jewellery Group Ltd		219
	85,000		Clarion Co Ltd		336

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,697	*	Clarus Corp	$	313
	7,500		Cleanup Corp		60
	1,252,822		Coach, Inc		50,464
	55,978		Columbia Sportswear Co		3,447
	1,321,500		Consorcio ARA, S.A. de C.V.		462
	6,800		Corona Corp		71
	424,000	e,g	Cosmo Lady China Holdings Co Ltd		167
	208,158	g	Countryside Properties plc		968
	711,961		Crest Nicholson Holdings plc		5,269
	476,090	*	CROCS, Inc		4,618
	422,680		Crompton Greaves Consumer Electricals Ltd		1,353
	16,785		CSS Industries, Inc		484
	1,611		Cuckoo Electronics Co Ltd		180
	19,621		Culp, Inc		643
	3,157,300		Cyrela Brazil Realty S.A.		13,757
	117,630	*	Deckers Outdoor Corp		8,047
	50,453		De'Longhi S.p.A.		1,625
	14,532	*	Delta Apparel, Inc		313
	4,783		Delta-Galil Industries Ltd		151
	25,690		Descente Ltd		351
	415,150		DFS Furniture plc		1,224
	1,100,000		Direcional Engenharia S.A.		2,028
	17,404		Dorel Industries, Inc (Class B)		416
	1,422,073		DR Horton, Inc		56,783
	36,527		Duni AB		574
	181,468		Eclat Textile Co Ltd		2,213
	953,042	e	Electrolux AB (Series B)		32,438
	21,582		Escalade, Inc		294
	47,437		Ethan Allen Interiors, Inc		1,537
	92,400		Even Construtora e Incorporadora S.A.		162
	40,635		Ez Tec Empreendimentos e Participacoes S.A.		289
	331,672		Feng TAY Enterprise Co Ltd		1,512
	6,400	e	Fields Corp		64
	7,140		Fila Korea Ltd		427
	13,148		Flexsteel Industries, Inc		667
	719		Forbo Holding AG.		1,149
	1,731,852		Formosa Taffeta Co Ltd		1,744
	194,691		Forus S.A.		815
	81,243	*,e	Fossil Group, Inc		758
	13,091		Foster Electric Co Ltd		265
	14,700		France Bed Holdings Co Ltd		136
	339,999	*,e,m	Fuguiniao Co Ltd		0	^
	95,900		Fujibo Holdings Inc		3,312
	37,000		Fujitsu General Ltd		749
	9,400	e	Funai Electric Co Ltd		73
	203,831		Garmin Ltd		11,001
	53,241	e	Geox S.p.A.		227
	15,891	e	Gerry Weber International AG.		198
	307,439		Giant Manufacturing Co Ltd		1,447
	85,241	*	G-III Apparel Group Ltd		2,474
	357,413		Gildan Activewear, Inc		11,169
	22,052,000	*	Global Brands Group Holding Ltd		2,128
	3,400		Goldwin, Inc		243
	548,000		Goodbaby International Holding		303
	381,943	*,e	GoPro, Inc		4,205
	47,676	*	Green Brick Partners, Inc		472

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,500		Guararapes Confeccoes S.A.	$	260
	237,354		GUD Holdings Ltd		2,034
	97,200		Gunze Ltd		4,443
	1,260,944		Haier Electronics Group Co Ltd		3,086
	9,290		Handsome Co Ltd		251
	1,100,581	e	Hanesbrands, Inc		27,118
	94,528		Hansae Co Ltd		2,008
	32,954		Hansae Yes24 Holdings Co Ltd		262
	10,925		Hanssem Co Ltd		1,447
	399,095		Hasbro, Inc		38,980
	471,700		Haseko Corp		6,295
	697,648		Hefei Meiling Co Ltd		403
	100,200	e	Heiwa Corp		1,986
	93,656	*	Helen of Troy Ltd		9,075
	14,168,000	*,e	HengTen Networks Group Ltd		529
	21,763		Hermes International		10,980
	18,442		Himatsingka Seide Ltd		93
	239,000		Hisense Kelon Electrical Holdings Co Ltd		262
	4,625		Hitachi Home & Life Solutions India Ltd		143
	18,419	*,e	HLB, Inc		324
	73,836		Hooker Furniture Corp		3,526
	504,000	e	Hosa International Ltd		151
	695,271	*,e	Hovnanian Enterprises, Inc (Class A)		1,342
	223,463	e	HS Industries Co Ltd		1,880
	40,035		Hugo Boss AG.		3,533
	322,755		Husqvarna AB (B Shares)		3,324
	6,732		Hwaseung Enterprise Co Ltd		93
	18,669		Hyundai Livart Furniture Co Ltd		369
	5,264	e	IC Companys AS		114
	89,589	*	Iconix Brand Group, Inc		510
	167,325		Iida Group Holdings Co Ltd		2,985
	988		Ilshin Spinning Co Ltd		101
	37,911		Indo Count Industries Ltd		58
	55,087	*	Installed Building Products Inc		3,570
	116,624	*,e	iRobot Corp		8,987
	30,600		Japan Wool Textile Co Ltd		276
	29,983	*,e	Jayjun Cosmetic Co Ltd		179
	84,549	*	Jimmy Choo plc		260
	132,499	*	Jinshan Development & Construction Co Ltd		131
	323,372		JM AB		10,173
	73,430		Johnson Health Tech Co Ltd		88
	15,518		Johnson Outdoors, Inc		1,137
	94,000		JVC KENWOOD Holdings, Inc		272
	10,488		Kaufman & Broad S.A.		506
	164,517	e	KB Home		3,968
	2,709,000		Kinpo Electronics		921
	46,244		KMC Kuei Meng International In		200
	462,200	*	Konka Group Co Ltd		193
	14,008		KPR Mill Ltd		162
	103,000		Kurabo Industries Ltd		283
	6,014		Kyungbang Ltd		74
	11,257		LA Opala RG Ltd		86
	637,904		Lao Feng Xiang Co Ltd		2,466
	258,310		La-Z-Boy, Inc		6,949
	776		Lealea Enterprise Co Ltd		0	^
	425,682		Leggett & Platt, Inc		20,318

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,242		Lennar Corp (B Shares)	$	1,138
	433,279		Lennar Corp (Class A)		22,877
	89,129		LG Electronics, Inc		6,437
	54,286		LG Fashion Corp		1,216
	32,048	*,e	LGI Homes, Inc		1,557
	51,584		Li Cheng Enterprise Co Ltd		104
	985,020	*	Li Ning Co Ltd		882
	167,965	*	Li Peng Enterprise Co Ltd		46
	149,822		Libbey, Inc		1,387
	38,722		Lifetime Brands, Inc		709
	1,206,000	e	Lisi Group Holdings Ltd		198
	2,182		LPP S.A.		4,887
	391,414	*	Lululemon Athletica, Inc		24,366
	501,650		Luthai Textile Co Ltd		567
	131,048		Luxottica Group S.p.A.		7,333
	482,313		LVMH Moet Hennessy Louis Vuitton S.A.		133,329
	174,126	*	M/I Homes, Inc		4,654
	121,735		Makalot Industrial Co Ltd		533
	36,067	*	Malibu Boats Inc		1,141
	4,477,600		Man Wah Holdings Ltd		4,018
	6,442	*,†,m	Mariella Burani S.p.A.		0
	16,065		Marine Products Corp		258
	6,900		Mars Engineering Corp		145
	804,566		Matsushita Electric Industrial Co Ltd		11,676
	3,137,768	e	Mattel, Inc		48,573
	321,600		MC Group PCL		148
	119,552		MCBC Holdings, Inc		2,436
	290,112	g	McCarthy & Stone plc		581
	99,727		MDC Holdings, Inc		3,312
	204,084		Merida Industry Co Ltd		891
	75,566	*	Meritage Homes Corp		3,355
	692,919	*	Michael Kors Holdings Ltd		33,156
	75,500	e	Misawa Homes Co Ltd		634
	57,000		Mitsui Home Co Ltd		371
	10,800		Mizuno Corp		307
	393,860	*	Mohawk Industries, Inc		97,484
	1,008,819		Moncler S.p.A		29,148
	29,190		Movado Group, Inc		817
	1,246,065		MRV Engenharia e Participacoes S.A.		5,414
	7,681		Nacco Industries, Inc (Class A)		659
	247,935		Namco Bandai Holdings, Inc		8,518
	31,000		Nan Liu Enterprise Co Ltd		160
	55,289	*	Nautilus, Inc		934
	87,556	*	New Home Co Inc		977
	101,963		New Wave Group AB (B Shares)		726
	1,529,029		Newell Rubbermaid, Inc		65,244
	455,129	m	Nien Hsing Textile Co Ltd		348
	532,000		Nien Made Enterprise Co Ltd		5,463
	3,827,204	n	Nike, Inc (Class B)		198,441
	43,824		Nikon Corp		760
	63,224		Nobia AB		631
	32,169	*	NVR, Inc		91,842
	729,531		Onward Kashiyama Co Ltd		5,552
	853,218		Oriental Weavers		916
	800,018	g	OVS S.p.A		6,112
	31,708		Oxford Industries, Inc		2,015

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	317,000	*,e,g	Ozner Water International Holding Ltd	$	82
	614,778		Pacific Textile Holdings Ltd		632
	7,523		Page Industries Ltd		2,124
	30,379		Pandora AS		3,004
	402,000	*,†,m	Peace Mark Holdings Ltd		0
	11,863		Pegas Nonwovens S.A.		496
	49,391	*	Perry Ellis International, Inc		1,169
	647,602		Persimmon plc		22,412
	237,932	*	Peter England Fashions and Retail Ltd		595
	262,319		Photo-Me International PLC		612
	20,656	*,m	PIK Group (GDR)		114
	199,000	*	Pioneer Corp		370
	81,048,570		Playmates Holdings Ltd		11,828
	42,370	e	Polaris Industries, Inc		4,433
	89,718		Pool Corp		9,705
	2,127,341		Pou Chen Corp		2,675
	12,269,383		Prada S.p.A		42,971
	25,200		Pressance Corp		341
	122,731,800		PT Sri Rejeki Isman Tbk		3,174
	1,555,696		Pulte Homes, Inc		42,517
	332,208		PVH Corp		41,878
	218,000	e	Q Technology Group Co Ltd		396
	176,457		Rajesh Exports Ltd		2,215
	131,458		Ralph Lauren Corp		11,606
	68,083		Raymond Ltd		848
	1,227,448		Redrow plc		9,745
	240,000	e,g	Regina Miracle International Holdings Ltd		208
	23,797		Rinnai Corp		2,038
	481,956		Ruentex Industries Ltd		716
	17,660	*	Safilo Group S.p.A.		118
	31,166	e	Salvatore Ferragamo Italia S.p.A		876
	667,000		Sampo Corp		325
	33,000		Sangetsu Co Ltd		567
	58,421		Sankyo Co Ltd		1,864
	16,328		SEB S.A.		2,997
	149,117		Sega Sammy Holdings, Inc		2,084
	18,800		Seiko Holdings Corp		424
	818,330		Seiren Co Ltd		15,083
	426,353		Sekisui Chemical Co Ltd		8,400
	1,529,509		Sekisui House Ltd		25,781
	74,277	*,e	Sequential Brands Group, Inc		222
	320,000		Shanghai Haixin Group Co		224
	57,000		Shanghai Kai Kai Industrial Co Ltd		62
	156,393	*,e	Sharp Corp		4,730
	171,500	*	Shenzhen China Bicycle Co Holdings Ltd		68
	717,124		Shenzhou International Group Holdings Ltd		5,624
	21,945		Shimano, Inc		2,923
	1,127		Sintex Industries Ltd		0	^
	5,723		Sioen Industries NV		192
	807,201	*	Skechers U.S.A., Inc (Class A)		20,253
	1,262,913	e	Skyworth Digital Holdings Ltd		647
	38,572	*	SodaStream International Ltd		2,563
	5,957,048		Sony Corp		222,249
	185,342		Sony Corp (ADR)		6,921
	657,598	*,g	Spin Master Corp		25,392
	9,093		SRF Ltd		215

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	24,000	e	SRI Sports Ltd	$	342
	86,200		Starts Corp, Inc		2,218
	4,322,658		Steinhoff International Holdings NV		19,212
	144,870		Steinhoff International Holdings NV (GR)		646
	238,578	*	Steven Madden Ltd		10,330
	31,857	e	Sturm Ruger & Co, Inc		1,647
	462,654		Sumitomo Forestry Co Ltd		7,246
	16,811		Superior Uniform Group, Inc		385
	13,998		Surteco SE		428
	19,920		Swatch Group AG.		8,301
	279,928		Swatch Group AG. (Registered)		22,320
	11,215		Symphony Ltd		233
	756,602		Tainan Spinning Co Ltd		335
	157,600		Taiwan Paiho Ltd		726
	9,500		Tamron Co Ltd		184
	1,198,298	*	Tatung Co Ltd		491
	547,378	*	Taylor Morrison Home Corp		12,070
	5,004,748		Taylor Wimpey plc		13,117
	222,000	e	TCL Multimedia Technology Holdings Ltd		106
	442,639	g	Technogym S.p.A		3,926
	974,500		Techtronic Industries Co		5,217
	17,716		Ted Baker plc		629
	71,203		Telford Homes plc		380
	567,047	*,e	Tempur Sealy International, Inc		36,586
	1,446,000		Texhong Textile Group Ltd		1,970
	502,000		Texwinca Holdings Ltd		302
	230,605		Thomson		796
	191,249	g	Thule Group AB		4,114
	465,714		Titan Industries Ltd		4,171
	6,452	e	Tod's S.p.A.		458
	30,990		Token Corp		3,695
	385,976		Toll Brothers, Inc		16,006
	78,622	*	TomTom NV		854
	51,568		Tomy Co Ltd		713
	117,521	*	TopBuild Corp		7,659
	52,000		Topkey Corp		161
	63,000		Toung Loong Textile Manufacturing		171
	303,864	*	TRI Pointe Homes, Inc		4,196
	15,156		Trigano S.A.		2,350
	45,300		TSI Holdings Co Ltd		360
	169,703		Tsutsumi Jewelry Co Ltd		2,931
	1,999		TTK Prestige Ltd		192
	175,631		Tupperware Corp		10,858
	331,279	*,e	Under Armour, Inc		4,976
	375,819	*,e	Under Armour, Inc (Class A)		6,193
	29,741	*	Unifi, Inc		1,060
	187,800	*	Unitika Ltd		1,479
	27,026	*	Universal Electronics, Inc		1,713
	53,000	e	Universal Entertainment Corp		1,559
	3,870		VAN DE Velde		216
	25,324		Vardhman Textiles Ltd		518
	92,556	*	Vera Bradley, Inc		815
	57,764	*	Vestel Elektronik Sanayi		122
	640,316		VF Corp		40,705
	42,821	*	Victoria plc		360
	67,197	*	Videocon Industries Ltd		17

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	108,732	*	Vista Outdoor, Inc	$	2,494
	30,814		Wacoal Holdings Corp		880
	534,188		Welspun India Ltd		560
	13,190		Weyco Group, Inc		374
	216,908		Whirlpool Corp		40,007
	36,031		Whirlpool of India Ltd		708
	46,091	*	William Lyon Homes, Inc		1,060
	180,718		Wolverine World Wide, Inc		5,214
	53,846		Woongjin Coway Co Ltd		4,426
	178,731		Wuxi Little Swan Co Ltd		812
	3,288,000	e	XTEP International Holdings		1,134
	84,750		Yamaha Corp		3,129
	10,600	e	Yondoshi Holdings, Inc		301
	37,300	e	Yonex Co Ltd		278
	14,252		Youngone Corp		406
	8,297		Youngone Holdings Co Ltd		369
	791,907		Yue Yuen Industrial Holdings		3,022
	604,000	*,e	Yuxing InfoTech Investment Holdings Ltd		52
	103,590	*	Zagg, Inc		1,632
	141,764		Zeng Hsing Industrial Co Ltd		615
	60,100		Zhonglu Co Ltd		96
	26,700	e	Zojirushi Corp		256
			TOTAL CONSUMER DURABLES & APPAREL		2,491,221
CONSUMER SERVICES - 2.1%
	14,200	*,e	500.com Ltd (ADR)		156
	483,933		888 Holdings plc		1,665
	369,897		AA plc		841
	32,509	*,g	AcadeMedia AB		259
	4,001,598		Accor S.A.		199,013
	15,037,400		Accordia Golf Trust		8,093
	119,418	*	Adtalem Global Education, Inc		4,281
	664,881		Advtech Ltd		869
	3,900		Aeon Fantasy Co Ltd		132
	95,637	e	Ainsworth Game Technology Ltd		192
	1,071,000		Ajisen China Holdings Ltd		487
	353,302		Alsea SAB de C.V.		1,299
	98,000		Ambassador Hotel		76
	31,737	*	American Public Education, Inc		668
	1,708,055		ARAMARK Holdings Corp		69,364
	8,100		ARCLAND SERVICE Co Ltd		170
	3,324,776	*	Arcos Dorados Holdings, Inc		33,414
	296,723	e	Ardent Leisure Group		424
	839,654		Aristocrat Leisure Ltd		13,869
	47,897	*	Ascent Media Corp (Series A)		625
	55,300	e	Atom Corp		413
	314,770		Autogrill S.p.A.		4,094
	30,284	*,g	Basic-Fit NV		669
	1,572,552	*	Belmond Ltd.		21,465
	79,625		Benesse Holdings Inc		2,873
	560,100		Berjaya Sports Toto BHD		328
	28,415	e	bet-at-home.com AG.		3,984
	71,641		Betsson AB		654
	42,036	*	BJ's Restaurants, Inc		1,280
	2,465,200	*	Bloomberry Resorts Corp		519
	406,983		Bloomin' Brands, Inc		7,163

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	83,931		Bob Evans Farms, Inc	$	6,506
	55,985	*	Bojangles', Inc		756
	161,007		Boyd Gaming Corp		4,194
	163,053	*	Bridgepoint Education, Inc		1,565
	132,432	*	Bright Horizons Family Solutions		11,417
	293,803	e	Brinker International, Inc		9,361
	5,500	e	BRONCO BILLY Co Ltd		132
	89,326	*	Buffalo Wild Wings, Inc		9,442
	92,421	*	Caesars Acquisition Co		1,982
	284,438	*,e	Caesars Entertainment Corp		3,797
	272,000		Cafe de Coral Holdings Ltd		848
	34,722	*	Cambium Learning Group, Inc		230
	51,207		Capella Education Co		3,592
	84,136		Cara Operations Ltd		1,645
	227,404	*	Career Education Corp		2,363
	2,107,356		Carnival Corp		136,072
	211,004		Carnival plc		13,418
	95,789		Carriage Services, Inc		2,452
	151,950	*	Carrols Restaurant Group, Inc		1,656
	47,784	*	Century Casinos, Inc		392
	86,269		Cheesecake Factory		3,634
	179,276	*,e	Chegg, Inc		2,660
	42,779	*,e	Cherry AB		283
	5,020,000	*	China LotSynergy Holdings Ltd		122
	2,098,000		China Maple Leaf Educational Systems Ltd		2,352
	1,458,000	e	China Travel International Inv HK		534
	552,000	g	China Yuhua Education Corp Ltd		275
	49,710	*,e	Chipotle Mexican Grill, Inc (Class A)		15,302
	27,504		Choice Hotels International, Inc		1,758
	25,912		Churchill Downs, Inc		5,343
	32,185	*	Chuy's Holdings, Inc		678
	10,336		Cie des Alpes		329
	52,696		City Lodge Hotels Ltd		541
	744,288	*	Codere S.A.		317
	17,308		Collectors Universe		415
	35,800		Colowide Co Ltd		659
	923,719		Compass Group plc		19,599
	45,725	e	Corporate Travel Management Lt		786
	102,748		Cox & Kings India Ltd		436
	36,965	e	Cracker Barrel Old Country Store, Inc		5,605
	25,700	e	Create Restaurants Holdings, Inc		267
	414,580		Crown Resorts Ltd		3,686
	96,342	*,e	Curro Holdings Ltd		269
	387,000		CVC Brasil Operadora e Agencia de Viagens S.A.		5,004
	103,988		Daekyo Co Ltd		754
	113,000		Dahan Development Corp		259
	5,500	e	Daisyo Corp		83
	122,203	*	Dalata Hotel Group plc		799
	244,149		Darden Restaurants, Inc		19,234
	113,145	*	Dave & Buster's Entertainment, Inc		5,938
	62,502	*	Del Frisco's Restaurant Group, Inc		909
	63,202	*	Del Taco Restaurants, Inc		970
	45,485		Delta Corp Ltd		136
	205,167	*	Denny's Corp		2,554
	30,966		Dignity plc		957
	33,684	e	DineEquity, Inc		1,448

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,227	e	DO & CO AG.	$	207
	40,932	e	Domino's Pizza Enterprises Ltd		1,475
	303,411		Domino's Pizza Group plc		1,262
	70,869		Domino's Pizza, Inc		14,071
	5,512,147	e	Donaco International Ltd		1,816
	18,400		Doutor Nichires Holdings Co Ltd		395
	122,791	*,e	Drive Shack, Inc		443
	3,265,470	*	Dubai Parks & Resorts PJSC		677
	259,634		Dunkin Brands Group, Inc		13,781
	1,734,800		Dynam Japan Holdings Co Ltd		2,645
	127,910		EIH Ltd		265
	38,577	*	El Pollo Loco Holdings, Inc		469
	87,427	*,e	Eldorado Resorts, Inc		2,243
	324,963	g	Elior Participations S.C.A		8,610
	4,168	*	Emerson Pacific, Inc		89
	2,315,000		Emperor Entertainment Hotel Ltd		567
	7,347	*,e	Empire Resorts, Inc		164
	193,168		EnerCare, Inc		3,166
	680,817	*	Enterprise Inns plc		1,254
	1,281,100		Erawan Group PCL		256
	272,900		Estacio Participacoes S.A.		2,670
	19,003	g	Evolution Gaming Group AB		1,213
	1,360,035		Extended Stay America, Inc		27,201
	38,000		Fairwood Holdings Ltd		153
	135,390	*	Famous Brands Ltd		1,167
	51,348	*,e	Fiesta Restaurant Group, Inc		976
	103,508	e	Flight Centre Travel Group Ltd		3,663
	512,804	*	Fogo De Chao, Inc		6,359
	39,990		Formosa International Hotels Corp		203
	579,000	e	Fu Shou Yuan International Group Ltd		383
	14,000	e	Fuji Kyuko Co Ltd		312
	3,800	e	Fujita Kanko, Inc		121
	315,412		G8 Education Ltd		1,009
	26,500		GAEC Educacao S.A.		193
	2,585,155		Galaxy Entertainment Group Ltd		18,276
	5,562,392		Genting BHD		12,589
	9,177,493		Genting Singapore plc		7,936
	241,730		Gold Reef Resorts Ltd		361
	21,620		Golden Entertainment, Inc		527
	47,300		Gourmet Master Co Ltd		504
	4,748		Graham Holdings Co		2,778
	112,473	*	Grand Canyon Education, Inc		10,215
	20,385		Grand Korea Leisure Co Ltd		422
	84,617	*	Great Canadian Gaming Corp		2,177
	190,853		Greene King plc		1,399
	382,384		Greggs plc		6,390
	207,940		GVC Holdings plc		2,287
	964,439		H&R Block, Inc		25,538
	40,017	*,e	Habit Restaurants, Inc		522
	854,000	*,g	Haichang Holdings Ltd		218
	6,365		Hana Tour Service, Inc		479
	10,680		Hiday Hidaka Corp		297
	247,017	*	Hilton Grand Vacations, Inc		9,542
	77,652		Hilton Worldwide Holdings, Inc		5,393
	48,000		Hiramatsu Inc		260
	25,900		HIS Co Ltd		818

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	697,200	*,e	Hoteles City Express SAB de C.V.	$	835
	429,566	*	Houghton Mifflin Harcourt Co		5,176
	182,675		Huangshan Tourism Development Co Ltd		288
	115,831	*	Hyatt Hotels Corp		7,157
	7,600	e	Ichibanya Co Ltd		316
	76,522		IDP Education Ltd		339
	612,364		ILG, Inc		16,369
	422,343		Indian Hotels Co Ltd		753
	60,630		InterContinental Hotels Group plc		3,207
	334,997		International Game Technology plc		8,224
	111,481		International Speedway Corp (Class A)		4,013
	252,630		Invocare Ltd		3,118
	26,292	*	J Alexander's Holdings, Inc		305
	165,298		Jack in the Box, Inc		16,847
	32,036	*,e	Jackpotjoy plc		347
	443,207		Jollibee Foods Corp		2,127
	21,573		Jubilant Foodworks Ltd		461
	134,539	*	K12, Inc		2,400
	13,854	*,e	Kambi Group plc		134
	119,915		Kangwon Land, Inc		3,669
	14,200	e	Kappa Create Co Ltd		159
	12,600	e	Kisoji Co Ltd		307
	34,300	*	KNT-CT Holdings Co Ltd		640
	32,100	e	KOMEDA Holdings Co Ltd		536
	13,300		Koshidaka Holdings Co Ltd		397
	2,696,245		Kroton Educacional S.A.		17,069
	7,300		Kura Corp		326
	18,300	e	Kyoritsu Maintenance Co Ltd		547
	412,510	*	La Quinta Holdings, Inc		7,219
	885,525		Ladbrokes plc		1,449
	595,965		Las Vegas Sands Corp		38,237
	71,158	*	Laureate Education, Inc		1,035
	339,354	g	LeoVegas AB		2,875
	170,000	e	Li Bao GE Group Ltd		150
	12,561		Liberty Tax, Inc		181
	38,711	*	Lindblad Expeditions Holdings, Inc		414
	1,231,000	*,e	Macau Legend Development Ltd		202
	532,900		Magnum BHD		228
	24,721		Mahindra Holidays & Resorts India Ltd		129
	183,963	e	Mantra Group Ltd		461
	95,084		Marcus Corp		2,634
	1,113,305		Marriott International, Inc (Class A)		122,753
	67,950		Marriott Vacations Worldwide Corp		8,462
	388,522		Marston's plc		566
	4,800		Matsuya Foods Co Ltd		182
	1,200,000		Max's Group, Inc		477
	2,101,278		McDonald's Corp		329,228
	117,153		McDonald's Holdings Co Japan Ltd		5,183
	14,000		Meiko Network Japan Co Ltd		199
	3,357,647		Melco Crown Entertainment Ltd (ADR)		80,986
	568,000		Melco International Development		1,645
	30,793,700	*	Melco Resorts And Entertainment Philippines Corp		4,602
	69,931		Melia Hotels International S.A.		1,011
	1,261,344	g	Merlin Entertainments plc		7,528
	649,700	e	MGM China Holdings Ltd		1,559
	3,151,198		MGM Resorts International		102,698

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1		Minor International PCL (ADR)	$	0	^
	2,372,808		Minor International PCL (Foreign)		2,899
	128,101		Mitchells & Butlers plc		433
	10,110		Modetour Network, Inc		214
	50,169	*	Monarch Casino & Resort, Inc		1,983
	15,600	e	MOS Food Services, Inc		486
	9,910		MTY Food Group, Inc		388
	8,625	*	Nathan's Famous, Inc		638
	147,702		Navitas Ltd		526
	72,046	*	NET Holding AS		47
	133,898		New Oriental Education & Technology Group (ADR)		11,818
	144,507		NH Hoteles S.A.		969
	25,524	*,e	Noodles & Co		112
	117,832	*	Norwegian Cruise Line Holdings Ltd		6,369
	7,500		Ohsho Food Service Corp		301
	192,571		OPAP S.A.		2,037
	111,200		Oriental Land Co Ltd		8,478
	332,400		Overseas Union Enterprise Ltd		478
	12,447		Paddy Power plc		1,242
	65,560		Pandox AB		1,248
	82,884	e	Papa John's International, Inc		6,056
	30,267	e	Paradise Co Ltd		401
	1,000,000	g	Parques Reunidos Servicios Centrales SAU		15,128
	328,101	*,e	Penn National Gaming, Inc		7,674
	3,489	*	Pierre & Vacances		188
	161,827	*	Pinnacle Entertainment, Inc		3,449
	162,177		Planet Fitness, Inc		4,376
	71,400		Plenus Co Ltd		1,578
	40,131	*	Potbelly Corp		498
	5,590,000		Premium Leisure Corp		177
	95,300		Prestariang BHD		40
	172,334		Rank Group plc		513
	17,185		RCI Hospitality Holdings, Inc		425
	37,003	*	Red Lion Hotels Corp		320
	24,822	*,e	Red Robin Gourmet Burgers, Inc		1,663
	929,784		Red Rock Resorts, Inc		21,534
	153,993	*	Regis Corp		2,197
	3,071,029		Resorts World BHD		3,914
	53,300		Resorttrust, Inc		954
	1,091,478	e	Restaurant Brands International, Inc		69,724
	181,498		Restaurant Brands International, Inc (Toronto)		11,596
	124,219		Restaurant Group plc		503
	87,922	e	Retail Food Group Ltd		296
	30,482		Rezidor Hotel Group AB		122
	13,400	e	Ringer Hut Co Ltd		305
	41,200		Round One Corp		554
	190,363		Royal Caribbean Cruises Ltd		22,566
	17,100		Royal Holdings Co Ltd		431
	115,546	*	Ruby Tuesday, Inc		247
	173,048		Ruth's Chris Steak House, Inc		3,625
	17,700		Saizeriya Co Ltd		487
	2,002,495		Sands China Ltd		10,473
	438,879	g	Scandic Hotels Group AB		6,023
	176,798	*	Scientific Games Corp (Class A)		8,106
	129,900	*,e	SeaWorld Entertainment, Inc		1,687

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	239,200	g	Ser Educacional S.A.	$	2,356
	465,759		Service Corp International		16,069
	457,802	*	ServiceMaster Global Holdings, Inc		21,393
	42,386	*,e	Shake Shack, Inc		1,409
	3,482,000		Shanghai Jinjiang International Hotels Group Co Ltd		1,305
	52,049		Shanghai Jinjiang International Travel Co Ltd		164
	992,120		Shangri-La Asia Ltd		1,841
	1,207		Shinsegae Food Co Ltd		136
	61,624		Six Flags Entertainment Corp		3,755
	1,753,148		SJM Holdings Ltd		1,611
	36,376		SkiStar AB (Series B)		849
	419,133		Sky City Entertainment Group Ltd		1,135
	78,600		Skylark Co Ltd		1,162
	16,559		Sodexho Alliance S.A.		2,064
	79,027	e	Sonic Corp		2,011
	73,294	*	Sotheby’s (Class A)		3,380
	57,539		Speedway Motorsports, Inc		1,226
	1,121,594		SSP Group plc		8,082
	9,300		St Marc Holdings Co Ltd		274
	482,715		Star Entertainment Grp Ltd		1,990
	4,045,455		Starbucks Corp		217,281
	140,330	*	Stars Group, Inc		2,868
	1,945	*	Steak N Shake Co		648
	20,031		Strayer Education, Inc		1,748
	23,300		Studio Alice Co Ltd		564
	71,925		Sun International Ltd		272
	574,227		Tabcorp Holdings Ltd		1,925
	278,026		TAL Education Group (ADR)		9,372
	62,200	e	Tarena International, Inc (ADR)		905
	914,945		Tattersall’s Ltd		2,862
	60,744	*,g	Telepizza Group S.A.		348
	128,309		Texas Roadhouse, Inc (Class A)		6,305
	1,524,696		Thomas Cook Group plc		2,459
	64,102		Thomas Cook India Ltd		242
	54,800		Tokyo Dome Corp		506
	9,800		Tokyotokeiba Co Ltd		295
	15,700		Toridoll.corp		473
	10,000	e	Tosho Co Ltd		246
	301,867		TUI AG.		5,132
	546,159		TUI AG. (DI)		9,268
	17,700	*,e	Tuniu Corp (ADR)		138
	586,355		Unibet Group plc (ADR)		6,746
	55,677		Vail Resorts, Inc		12,701
	13,200	e	Watami Co Ltd		176
	143,587	*,e	Weight Watchers International, Inc		6,253
	610,689		Wendy’s		9,484
	56,313		Wetherspoon (J.D.) plc		947
	34,349		Whitbread plc		1,734
	607,616		William Hill plc		2,055
	522,601	e	Wingstop, Inc		17,376
	448,000	e	Wisdom Education International Holdings Co Ltd		241
	38,220		Wowprime Corp		203
	225,473		Wyndham Worldwide Corp		23,767
	1,718,371		Wynn Macau Ltd		4,647
	619,668		Wynn Resorts Ltd		92,281

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,300	e	Yomiuri Land Co Ltd	$	770
	8,233		Yong Pyong Resort Co Ltd		80
	39,900	e	Yoshinoya D&C Co Ltd		658
	1,847,032	*	Yum China Holdings, Inc		73,826
	500,339		Yum! Brands, Inc		36,830
	24,169		Zeal Network SE		741
	101,800	e	Zensho Co Ltd		1,839
	720,432	*,e	Zoe’s Kitchen, Inc		9,099
			TOTAL CONSUMER SERVICES		2,609,838
DIVERSIFIED FINANCIALS - 3.5%
	926,596		3i Group plc		11,344
	73,994		ABC Arbitrage		538
	19,828		Ackermans & Van Haaren		3,478
	860,330	*,e	Acom Co Ltd		3,338
	84,000	*	Aditya Birla Capital Ltd		236
	145,800		Aeon Credit Service M BHD		443
	41,148		AEON Financial Service Co Ltd		861
	97,386		Affiliated Managers Group, Inc		18,487
	52,739		AG Mortgage Investment Trust		1,015
	115,666		AGF Management Ltd		750
	809,228		AGNC Investment Corp		17,544
	972,600	*,e	Aiful Corp		3,247
	40		AIRA Capital Co Ltd		0	^
	103,955		Aker ASA (A Shares)		4,271
	1,905,399		Al Waha Capital PJSC		892
	22,839	e	Alaris Royalty Corp		377
	1,101,025		Alexander Forbes Group Holdings Ltd		549
	126,953	*	Allied Minds plc		230
	1,276,190		Ally Financial, Inc		30,960
	69,281		Altamir Amboise		1,253
	1,019,696		Amanat Holdings PJSC		317
	2,073,310		American Express Co		187,552
	867,068		Ameriprise Financial, Inc		128,768
	3,384,175		AMP Ltd		12,851
	624,105	g	Amundi S.A.		51,892
	1,950,738	g	Anima Holding S.p.A		15,764
	2,019,384		Annaly Capital Management, Inc		24,616
	184,251		Anworth Mortgage Asset Corp		1,107
	460,712	e	Apollo Commercial Real Estate Finance, Inc		8,343
	115,886		Ares Commercial Real Estate Corp		1,542
	42,448	e	Arlington Asset Investment Corp (Class A)		540
	78,124	e	ARMOUR Residential REIT, Inc		2,102
	102,867		Arrow Global Group plc		590
	150,173		Artisan Partners Asset Management, Inc		4,896
	1,016,297		Ashmore Group plc		4,623
	12,981	*,†,m	Asia Pacific Investment Partners Limited		93
	10,763	e	Associated Capital Group, Inc		384
	18,289	e	Aurelius AG.		1,203
	358,393		Australian Stock Exchange Ltd		14,772
	14,378		Avanza AB		602
	325,071		Ayala Corp		6,212
	2,215	*,†,m	Ayala Corp Preferred		0	^
	70,203		Azimut Holding S.p.A.		1,521
	39,058		B. Riley Financial, Inc		666
	139,657	e	B2Holding ASA		331

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	279,062		Bajaj Finance Ltd	$	7,869
	311,474		Banca Generali S.p.A		10,818
	123,265		Banca IFIS S.p.A.		6,748
	159,453		Banca Mediolanum S.p.A		1,396
	3,346,518		Bank of New York Mellon Corp		177,432
	678,087		BGC Partners, Inc (Class A)		9,812
	39,593		BinckBank NV		205
	181,037		BlackRock, Inc		80,940
	466,391		Blackstone Group LP		15,563
	132,212	e	Blackstone Mortgage Trust, Inc		4,101
	2,073,653		BM&F Bovespa S.A.		15,681
	698,300		Bolsa Mexicana de Valores S.A. de C.V.		1,168
	84,510		Bolsas y Mercados Espanoles		2,917
	358,343	*,e	Brait S.A.		1,419
	307,929		Brewin Dolphin Holdings plc		1,442
	382,000	e	Bright Smart Securities & Commodities Group Ltd		118
	906,424		Brookfield Asset Management, Inc		37,427
	10,302		BSE Ltd		154
	643,662		BT Investment Management Ltd		5,597
	56,768		Bure Equity AB		781
	115,756		Burford Capital Ltd		1,605
	257,100		Bursa Malaysia BHD		609
	6,064	e	Callidus Capital Corp		50
	195,130		Canaccord Financial, Inc		671
	1,181,362		Capital First Ltd		13,295
	1,286,038		Capital One Financial Corp		108,876
	1,257,000		Capital Securities Corp		421
	186,965		Capstead Mortgage Corp		1,804
	242,449		CBOE Holdings, Inc		26,095
	83,431		Cembra Money Bank AG.		7,299
	31,301		Century Leasing System, Inc		1,410
	120,998		Cerved Information Solutions S.p.A		1,431
	4,966,123		Chailease Holding Co Ltd		11,996
	531,572		Challenger Financial Services Group Ltd		5,211
	1,010,509		Charles Schwab Corp		44,200
	36,894		Cherry Hill Mortgage Investment Corp		668
	471,495		Chimera Investment Corp		8,921
	804,000		China Bills Finance Corp		393
	9,481,105		China Cinda Asset Management Co Ltd		3,508
	1,071,125		China Everbright Ltd		2,474
	4,190,000	*,e	China Financial International Investments Ltd		127
	6,455,045		China Galaxy Securities Co Ltd		5,688
	6,950,000	g	China Huarong Asset Management Co Ltd		3,112
	1,000,000	g	China International Capital Corp Ltd		2,038
	1,294,000	*,e	China LNG Group Ltd		199
	6,610,000	*	China Minsheng Financial Holding Corp Ltd		399
	9,988,000	*,e	Chong Sing Holdings FinTech Gr		1,355
	392,601		CI Financial Corp		8,587
	2,601,415		CITIC Securities Co Ltd		5,741
	5,073,816		ClearView Wealth Ltd		5,815
	376,853		Close Brothers Group plc		7,452
	329,200	g	CMC Markets plc		715
	1,081,524		CME Group, Inc		146,741
	67,514	*	Coface S.A.		726
	40,676		Cohen & Steers, Inc		1,606
	326,600		Concentradora Hipotecaria SAPI de C.V.		378

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	207,044		Coronation Fund Managers Ltd	$	1,031
	15,785		Corp Financiera Alba		964
	55,861		Corp Financiera Colombiana S.A.		546
	50,891	*	Cowen Group, Inc		906
	86,742	*,e	Credit Acceptance Corp		24,303
	22,917		Credit Analysis & Research Ltd		479
	46,613	e	Credit Corp Group Ltd		704
	75,664		Credit Saison Co Ltd		1,570
	7,684,283		Credit Suisse Group		121,754
	743,351		Credito Real SAB de C.V.		1,259
	26,405		CRISIL Ltd		736
	293,935		CYS Investments, Inc		2,540
	381,860		Daewoo Securities Co Ltd		3,295
	161,752		Daishin Securities Co Ltd		1,871
	15,311		Daishin Securities Co Ltd PF		124
	1,358,360		Daiwa Securities Group, Inc		7,700
	10,157		Daou Data Corp		92
	41,310		Daou Technology, Inc		639
	60,281		DeA Capital S.p.A.		98
	412,996		Deutsche Bank AG. (Registered)		7,149
	7,371	*	Deutsche Beteiligungs AG.		397
	51,525		Deutsche Boerse AG.		5,594
	6,686		Diamond Hill Investment Group, Inc		1,420
	926,000	*	Differ Group Holding Co Ltd		62
	955,000	*,e	Dingyi Group Investment Ltd		62
	612,395		Discover Financial Services		39,487
	700,000	*,e,g	doBank S.p.A		9,084
	131,571	*	Donnelley Financial Solutions, Inc		2,837
	18,567	*,e	Dundee Corp		48
	87,938		Dynex Capital, Inc		639
	2,875,727	*	E*TRADE Financial Corp		125,410
	363,631		Eaton Vance Corp		17,952
	147,112		Eclipx Group Ltd		469
	327,841		ECN Capital Corp		1,040
	707,429		Edelweiss Capital Ltd		2,914
	7,878		EFG Financial Products Holding AG.		483
	231,658	e	EFG International		2,009
	1,738,356		Egyptian Financial Group-Hermes Holding		2,183
	269,311		Element Financial Corp		1,996
	113,788	*,e	Elevate Credit, Inc		695
	15,402		Ellington Residential Mortgage REIT		224
	7,212,000	e	Emperor Capital Group Ltd		594
	46,867	*,e	Encore Capital Group, Inc		2,076
	6,696,000	e	Enerchina Holdings Ltd		153
	353,848	*	Enova International, Inc		4,759
	51,357	*	Eugene Investment & Securities Co Ltd		132
	9,393		Eurazeo		840
	1,047,569	g	Euronext NV		63,774
	192,353		Evercore Partners, Inc (Class A)		15,436
	96,206		EXOR NV		6,106
	222,667	*	Ezcorp, Inc (Class A)		2,115
	101,226		Factset Research Systems, Inc		18,232
	4,550,276		Far East Horizon Ltd		4,279
	1,092,000	*,e	FDG Kinetic Ltd		189
	221,134	e	Federated Investors, Inc (Class B)		6,568
	7,347	e	Ferratum Oyj		232

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,070		Fiera Capital Corp	$	336
	11,525		Fifth Street Asset Management, Inc		45
	112,660		Financial Engines, Inc		3,915
	418,200	e	Financial Products Group Co Ltd		4,651
	2,718,785		First Pacific Co		2,174
	154,899		FirstCash, Inc		9,782
	4,125,433	e	FirstRand Ltd		15,864
	159,306	e	FlexiGroup Ltd		195
	67,880	g	Flow Traders		1,825
	402,037	*	FNFV Group		6,895
	296,861		Franklin Resources, Inc		13,213
	4,180,000	*	Freeman Financial Corp Ltd		247
	9,546,461		Fubon Financial Holding Co Ltd		14,919
	24,092,242		Fuhwa Financial Holdings Co Ltd		10,388
	19,200		Fuyo General Lease Co Ltd		1,254
	69,191		Gain Capital Holdings, Inc		442
	8,086		GAMCO Investors, Inc (Class A)		241
	928,462		Gentera SAB de C.V.		1,505
	1,627,200		GF Securities Co Ltd		3,550
	14,677		Gimv NV		902
	75,647		Gluskin Sheff + Associates, Inc		1,140
	704,293		Goldman Sachs Group, Inc		167,051
	1,410,000	*	Good Resources Holdings Ltd		70
	16,455	e	Granite Point Mortgage Trust, Inc		308
	29,520		Great Ajax Corp		416
	315,338	*	Green Dot Corp		15,634
	52,320	e	Greenhill & Co, Inc		869
	20,761		GRENKELEASING AG.		1,937
	47,300		Group Lease PCL		33
	207,100		Group Lease PCL (FO)		145
	1,000,000		Group Lease PCL (NVDR)		702
	66,455		Groupe Bruxelles Lambert S.A.		6,995
	326,904		Grupo de Inversiones Suramericana S.A.		4,551
	225,635		Grupo de Inversiones Suramericana S.A. (Preference)		3,087
	114,435		GT Capital Holdings, Inc		2,617
	276,500	e	Guolian Securities Co Ltd		141
	8,188,800	e	Guotai Junan International Hol		2,625
	1,879,015		Haci Omer Sabanci Holding AS		5,284
	5,138,962		Haitong Securities Co Ltd		8,337
	46,818		Hamilton Lane, Inc		1,257
	15,946		Hankook Tire Worldwide Co Ltd		305
	135,115		Hannon Armstrong Sustainable Infrastructure Capital, Inc		3,293
	72,249	*	Hanwha Securities Co		178
	383,283		Hargreaves Lansdown plc		7,606
	42,874		Hellenic Exchanges S.A.		248
	270,700		Hitachi Capital Corp		6,442
	12,807		HMC Investment Securities Co Ltd		120
	86,238	e,g	Hoist Finance AB		889
	1,383,122		Hong Kong Exchanges and Clearing Ltd		37,355
	158,527		Houlihan Lokey, Inc		6,203
	752,500	*,e	Huarong International Financial Holdings Ltd		280
	2,945,400	g	Huatai Securities Co Ltd		6,549
	1,923	*	Hypoport AG.		339
	54,700		IBJ Leasing Co Ltd		1,482

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,100		Ichiyoshi Securities Co Ltd	$	1,178
	2,562,109		IFCI Ltd		908
	952,453		IG Group Holdings plc		8,186
	307,046		IGM Financial, Inc		10,321
	159,606		India Infoline Ltd		1,488
	2,040,386		Indiabulls Housing Finance Ltd		37,773
	100,007		Indiabulls Securities Ltd		392
	32,471		Industrivarden AB		824
	231,261		Infrastructure Development Finance Co Ltd		209
	147,859		Interactive Brokers Group, Inc (Class A)		6,660
	737,029		IntercontinentalExchange Group, Inc		50,634
	211,862		Intermediate Capital Group plc		2,660
	166,799		International Personal Finance plc		471
	28,368	*	INTL FCStone, Inc		1,087
	113,681		Inversiones La Construccion S.A.		1,798
	416,689		Invesco Ltd		14,601
	217,662		Invesco Mortgage Capital, Inc		3,729
	1,153,350		Investec Ltd		8,349
	109,753		Investec plc		802
	44,061		Investment AB Kinnevik (B Shares)		1,439
	15,813		Investment AB Oresund		264
	68,030		Investment Technology Group, Inc		1,506
	160,285		Investor AB (B Shares)		7,930
	379,678		IOOF Holdings Ltd		3,328
	265,445		iShares MSCI Canada Index Fund		7,682
	1,339,553		iShares MSCI EAFE Index Fund		91,733
	724,581	e	iShares MSCI Emerging Markets		32,468
	161,300		J Trust Co Ltd		1,384
	85,800		Jaccs Co Ltd		2,122
	170,132		Jafco Co Ltd		8,712
	82,128		Janus Henderson Group plc		2,861
	1,770,500		Japan Securities Finance Co Ltd		9,544
	1,263,346		Jih Sun Financial Holdings Co Ltd		302
	128,670		JM Financial Ltd		273
	196,741		JSE Ltd		1,800
	239,917		Julius Baer Group Ltd		14,237
	506,483		Julius Baer Holding AG.		7,851
	1,313,848		Jupiter Investment Management Group Ltd		9,732
	966,600		kabu.com Securities Co Ltd		2,942
	85,723		KBC Ancora		5,049
	7,146		KIWOOM Securities Co Ltd		453
	18,880	e	KKR Real Estate Finance Trust, Inc		397
	36,785		Korea Investment Holdings Co Ltd		1,973
	8,412,400	*	Kresna Graha Investama PT Tbk		280
	21,900		KRUK S.A.		1,761
	51,000		Krungthai Card PCL		173
	12,032		Kyobo Securities Co		94
	12,600	e	Kyokuto Securities Co Ltd		171
	252,074		L&T Finance Holdings Ltd		754
	137,874		Ladder Capital Corp		1,900
	475,132		Ladenburg Thalmann Financial Services, Inc		1,368
	573,914		Lazard Ltd (Class A)		25,952
	240,338		Legg Mason, Inc		9,448
	610,936	*	LendingClub Corp		3,721
	711,775		Leucadia National Corp		17,972
	555,697		London Stock Exchange Group plc		28,533

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	379,144		LPL Financial Holdings, Inc	$	19,552
	28,718		Lundbergs AB (B Shares)		2,298
	20,100	*,e	M&A Capital Partners Co Ltd		1,001
	330,002		Macquarie Group Ltd		23,627
	182,240		Magellan Financial Group Ltd		3,521
	279,324		Mahindra & Mahindra Financial Services Ltd		1,766
	11,196,578		Man Group plc		25,211
	720,885		Manappuram General Finance & Leasing Ltd		1,070
	109,655		MarketAxess Holdings, Inc		20,232
	17,106		Marlin Business Services Corp		492
	31,300	*	Marusan Securities Co Ltd		259
	39,402,399	*,e	Mason Financial Holdings Ltd		536
	401		Masterlink Securities Corp		0	^
	235,000	e	Matsui Securities Co Ltd		1,772
	16,340		Medley Management, Inc		100
	183,457		Meritz finance Holdings Co Ltd		2,635
	947,772		Meritz Securities Co Ltd		3,660
	23,153,706		Metro Pacific Investments Corp		3,057
	1,032,887		MFA Mortgage Investments, Inc		9,048
	84,000		MIN XIN Holdings Ltd		58
	577,651		Mitsubishi UFJ Lease & Finance Co Ltd		3,065
	48,972		MLP AG.		338
	204,655		Moelis & Co		8,810
	1,615,700	e	Monex Beans Holdings, Inc		4,345
	311,146		Moody’s Corp		43,315
	7,512,418		Morgan Stanley		361,873
	57,145		Morningstar, Inc		4,857
	46,977		Motilal Oswal Financial Services Ltd		926
	255,885		MSCI, Inc (Class A)		29,913
	137,990		MTGE Investment Corp		2,677
	462,000		Muangthai Leasing PCL		489
	675,176	*	Multi Commodity Exchange of India Ltd		10,752
	143,983		Muthoot Finance Ltd		1,048
	260,996		NASDAQ OMX Group, Inc		20,245
	835,991		Natixis		6,690
	631,945		Navient Corp		9,492
	38,887		Nelnet, Inc (Class A)		1,964
	18,224	*,g	Netmarble Games Corp		2,411
	801,789		New Residential Investment Corp		13,414
	218,347	e	New York Mortgage Trust, Inc		1,343
	73,847		NewStar Financial, Inc		867
	388,099		NEX Group plc		3,446
	10,586		NICE Holdings Co Ltd		161
	23,209		NICE Information Service Co Ltd		167
	16,500	*,e	Noah Holdings Ltd (ADR)		530
	3,763,939		Nomura Holdings, Inc		21,119
	149,647		Northern Trust Corp		13,757
	3,417,866	e	NZX Ltd		2,916
	95,000		Okasan Holdings, Inc		546
	757,352		OM Asset Management plc		11,300
	264,267	*,e	On Deck Capital, Inc		1,234
	113,618	*	OneMain Holdings, Inc		3,203
	157,398		Onex Corp		12,147
	20,207		Oppenheimer Holdings, Inc		351
	79,181	e	Orchid Island Capital, Inc		807
	263,100	e	Orient Corp		428

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,445,976		ORIX Corp	$	39,488
	394,262		Osaka Securities Exchange Co Ltd		6,984
	75		OSK Holdings BHD		0	^
	27,543		Owens Realty Mortgage, Inc		502
	148,016	e	OzForex Group Ltd		202
	72,895		P2P Global Investments plc		786
	17,020		Pargesa Holding S.A.		1,416
	9,197		Partners Group		6,244
	126,538		PennyMac Mortgage Investment Trust		2,200
	481,246		Peregrine Holdings Ltd		1,041
	517,000	*,†,m	Peregrine Investment Holdings		0
	162,333		Perpetual Trustees Australia Ltd		6,617
	40,695	*	Pico Holdings, Inc		680
	147,853	*	Pioneers Holding		73
	81,612		Piper Jaffray Cos		4,844
	34,868		PJT Partners, Inc		1,336
	489,350	e	Platinum Asset Mangement Ltd		2,331
	383,291		Plus500 Ltd		4,607
	1,203,160		Power Finance Corp Ltd		2,250
	88,528	*	PRA Group, Inc		2,536
	628,082		President Securities Corp		296
	112,464	e	Provident Financial plc		1,252
	80,717		PSG Group Ltd		1,396
	128,527		PTC India Financial Services Ltd		73
	101,741		Pzena Investment Management, Inc (Class A)		1,108
	13,473		Qatar Industrial Manufacturing Co		149
	1,352,500		Ratchthani Leasing PCL		264
	41,603		Rathbone Brothers		1,446
	125,719	e	Ratos AB (B Shares)		615
	297,454		Raymond James Financial, Inc		25,084
	195,796		Redwood Trust, Inc		3,190
	19,140	*	Regional Management Corp		463
	235,745		Reliance Capital Ltd		2,119
	167,266	*,m	Reliance Home Finance Ltd		254
	799,490		Remgro Ltd		12,134
	38,027		Repco Home Finance Ltd		367
	55,074		Resource Capital Corp		594
	52,723	e,g	Resurs Holding AB		373
	10,800		Ricoh Leasing Co Ltd		406
	1,210,234		RMB Holdings Ltd		5,673
	983,363		Rural Electrification Corp Ltd		2,306
	697,651		S&P Global, Inc		109,050
	35,638	*	Safeguard Scientifics, Inc		476
	18,856		Salam International Investment Co		41
	26,188		Samsung Card Co		844
	71,875		Samsung Securities Co Ltd		2,176
	523,993	*	Santander Consumer USA Holdings, Inc		8,054
	246,100		Sawada Holdings Co Ltd		2,204
	193,744		SBI Holdings, Inc		2,922
	176,702		Schroders plc		7,949
	392,532		SEI Investments Co		23,968
	5	*,†,m	SFCG Co Ltd		0
	235,000		Shenyin Wanguo HK Ltd		86
	8,839		Shinyoung Securities Co Ltd		440
	466,059		Shriram Transport Finance Co Ltd		7,538
	15,603		Silvercrest Asset Management Group, Inc		227

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,081,727		Singapore Exchange Ltd	$	5,902
	176,654	*	SK Securities Co Ltd		180
	683	*	SKS Microfinance Pvt Ltd		10
	935,482	*	SLM Corp		10,730
	768,475	*,†,e,m	SNS Reaal		9
	21,637,743		Sociedad de Inversiones Oro Blanco S.A.		235
	3,796		Societe Fonciere Financiere et de Participations FFP		467
	13,033		Sofina S.A.		2,002
	255,348		Sparx Group Co Ltd		470
	9,000		SPDR Trust Series 1		2,261
	233,385		Sprott, Inc		395
	538,936		SREI Infrastructure Finance Ltd		848
	381,879		Srisawad Corp PCL		688
	428,697		St. James’s Place plc		6,589
	3,161,184		Standard Life plc		18,376
	875,719		Starwood Property Trust, Inc		19,021
	1,618,311		State Street Corp		154,613
	187,472		Stifel Financial Corp		10,022
	5,629,000		Sun Hung Kai & Co Ltd		3,623
	34,466		Sundaram Finance Ltd		891
	6,215		Swissquote Group Holding S.A.		233
	2,611,803		Synchrony Financial		81,096
	552,639		T Rowe Price Group, Inc		50,097
	2,522,366	e	Tai Fook Securities Group Ltd		1,460
	245,000		Taiwan Acceptance Corp		822
	140,706		Tamburi Investment Partners S.p.A.		985
	10,515		Tata Investment Corp Ltd		136
	168,178		TD Ameritrade Holding Corp		8,207
	387,469		Thomson Corp (Toronto)		17,778
	47,917		Tiptree Financial, Inc		299
	79,426		TMX Group Ltd		4,488
	809,880		Tokai Tokyo Securities Co Ltd		4,812
	77,545	*	Tong Yang Investment Bank		227
	18,819	*,e	TPG RE Finance Trust, Inc		372
	231,035		Transaction Capital Ltd		260
	364,839		Tullett Prebon plc		2,562
	869,964		Two Harbors Investment Corp		8,769
	1,929,704		UBS AG.		33,011
	449,100	e	Unifin Financiera SAPI de C.V. SOFOM ENR		1,512
	1,101,083		UOB-Kay Hian Holdings Ltd		1,092
	78,877	*	Uranium Participation Corp		223
	2,268		Value Line, Inc		40
	631,000	e	Value Partners Group Ltd		573
	20,910		Verusa Holding AS.		85
	47,117	e	Virtu Financial, Inc		763
	12,867		Virtus Investment Partners, Inc		1,493
	13,676		Volati AB		105
	106,875		Vontobel Holding AG.		6,876
	149,369		Voya Financial, Inc		5,958
	1,726		VZ Holding AG.		551
	195,510	e	Waddell & Reed Financial, Inc (Class A)		3,924
	43,985		Warsaw Stock Exchange		538
	3,089,226		Waterland Financial Holdings		925
	27,482		Wendel		4,452
	73,154	e	Western Asset Mortgage Capital Corp		766

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,700		Westwood Holdings Group, Inc	$	2,065
	222,740	e	WisdomTree Investments, Inc		2,267
	488,883		Woori Investment & Securities Co Ltd		5,839
	11,741	*	World Acceptance Corp		973
	32,075	e	ZAIS Financial Corp		504
	1,239,490		Zeder Investments Ltd		536
	108,200		Zenkoku Hosho Co Ltd		4,548
			TOTAL DIVERSIFIED FINANCIALS		4,279,633
ENERGY - 6.2%
	1,076,455	*	Abraxas Petroleum Corp		2,024
	5,397		Adams Resources & Energy, Inc		224
	16,366,504		Adaro Energy Tbk		2,222
	114,087	*	Advantage Oil & Gas Ltd		715
	52,649		Aegis Logistics Ltd		190
	92,072	*,e	Akastor ASA		202
	149,207		Aker BP ASA		2,891
	93,396	*	Aker Solutions ASA		496
	126,816		AltaGas Income Trust		2,921
	645,722		AMEC plc		4,417
	695,572	*,e	Amerisur Resources plc		193
	1,111,570		Anadarko Petroleum Corp		54,300
	275,707	b	Andeavor		28,439
	310,602	*,e	Antero Resources Corp		6,181
	974,000	*,e	Anton Oilfield Services Group		97
	100,000		AOC Holdings, Inc		388
	649,377		Apache Corp		29,741
	204,236	*,e	Approach Resources, Inc		513
	1,385,651	e	ARC Resources Ltd		19,090
	118,222	e	Arch Coal, Inc		8,481
	430,412		Archrock, Inc		5,402
	49,326	e	Ardmore Shipping Corp		407
	261,092	*	Athabasca Oil Corp		234
	150,873	*,e	Atwood Oceanics, Inc		1,417
	1,247,712		Baker Hughes a GE Co		45,691
	250,500		Bangchak Corp PCL		301
	2,748,810		Banpu PCL (Foreign)		1,454
	51,545	*	Basic Energy Services, Inc		995
	650,317	*,e	Baytex Energy Trust		1,960
	7,914,197		Beach Petroleum Ltd		5,159
	1,386,747		Bharat Petroleum Corp Ltd		10,014
	1,548,341	*	Bill Barrett Corp		6,642
	139,296		Birchcliff Energy Ltd		675
	244,570	*	Bonanza Creek Energy, Inc		8,068
	168,118	e	Bonavista Energy Trust		402
	15,756		Bonterra Oil & Gas Ltd		208
	20,628	e	Bourbon S.A.		187
	19,921,138		BP plc		127,615
	312,879	e	BP plc (ADR)		12,024
	4,650,000	e	Brightoil Petroleum Holdings Ltd		894
	309,779	e	Bristow Group, Inc		2,896
	1,814,700		Bumi Armada BHD		314
	45,094	e,g	BW LPG Ltd		208
	50,751	*	BW Offshore Ltd		178
	161,660	*	C&J Energy Services, Inc		4,845
	474,324		Cabot Oil & Gas Corp		12,688

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	361,230	*	Cairn Energy plc	$	928
	80,769	*,e	California Resources Corp		845
	741,363	*,e	Callon Petroleum Co		8,333
	431,571		Caltex Australia Ltd		10,889
	210,648	e	Cameco Corp (Toronto)		2,034
	333,412	*,e	Canacol Energy Ltd		1,109
	1,381,545		Canadian Natural Resources Ltd (Canada)		46,271
	46,479	*,e	CARBO Ceramics, Inc		401
	364,718	e	Cardinal Energy Ltd		1,380
	141,855	*,e	Carrizo Oil & Gas, Inc		2,430
	1,678,615		Cenovus Energy, Inc		16,820
	2,322,087		Cenovus Energy, Inc (Toronto)		23,281
	234,555	*,e	Centennial Resource Development, Inc		4,215
	185,575		CES Energy Solutions Corp		938
	904,089	*	Cheniere Energy, Inc		40,720
	187,292		Chennai Petroleum Corp Ltd		1,158
	1,331,803	*,e	Chesapeake Energy Corp		5,727
	5,714,696		Chevron Corp		671,477
	176,800	e	China Aviation Oil Singapore Corp Ltd		209
	3,810,419	e	China Coal Energy Co		1,807
	2,221,826		China Oilfield Services Ltd		2,047
	8,907,795		China Shenhua Energy Co Ltd		21,061
	8,957,000		China Suntien Green Energy Cor		2,230
	169,842		Cimarex Energy Co		19,306
	1,210,385	*	Clean Energy Fuels Corp		3,002
	137,628	*	Cloud Peak Energy, Inc		504
	22,997,246		CNOOC Ltd		29,771
	1,437,136		Coal India Ltd		5,965
	118	*,e	Cobalt International Energy, Inc		0	^
	2,845,795	*	Concho Resources, Inc		374,848
	1,372,190		ConocoPhillips		68,678
	546,672	*	Consol Energy, Inc		9,261
	109,069	*	Contango Oil & Gas Co		549
	2,541,763	*,e	Continental Resources, Inc		98,137
	2,511	e	Core Laboratories NV		248
	217,928		Cosan SA Industria e Comercio		2,491
	314,800		Cosmo Energy Holdings Co Ltd		7,221
	266,899	e	Crescent Point Energy Corp		2,143
	89,867	*	Crew Energy, Inc		320
	28,476	e	CVR Energy, Inc		738
	2,482,923	*	Dana Gas PJSC		514
	12,514		Delek Group Ltd		2,360
	1,360,051		Delek US Holdings, Inc		36,354
	749,462	*,e	Denbury Resources, Inc		1,004
	360,621	*,e	Denison Mines Corp		168
	607,751		Devon Energy Corp		22,311
	156,324		DHT Holdings, Inc		622
	3,281,851		Dialog Group BHD		1,556
	121,155	*,e	Diamond Offshore Drilling, Inc		1,757
	1,634,707	*	Diamondback Energy, Inc		160,136
	388,184	*,e	DNO International ASA		534
	34,685	*	Dorian LPG Ltd		237
	73,400	*	Dril-Quip, Inc		3,241
	1,723		E1 Corp		85
	48,749	*,e	Earthstone Energy, Inc		536
	600,592	*	Eclipse Resources Corp		1,501

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,700,105		Ecopetrol S.A.	$	1,287
	467,240		Empresas COPEC S.A.		6,116
	186,825		Enagas		5,264
	85,589		Enbridge Income Fund		2,205
	10,607		Enbridge, Inc		444
	2,410,847		Enbridge, Inc		100,704
	1,500,280		EnCana Corp		17,663
	253,922		Enerflex Ltd		3,744
	504,508	*	Energen Corp		27,587
	1,384,314		Energy Absolute PCL (Foreign)		1,591
	1,168,600	†,m	Energy Earth PCL		38
	1,053,134	*,e	Energy Resources of Australia Ltd		467
	59,259	*	Energy XXI Gulf Coast, Inc		613
	875,636		Enerplus Resources Fund		8,639
	2,275,984		ENI S.p.A.		37,694
	1,702,661	*	Enquest plc (London)		634
	580,918	e	Ensco plc		3,468
	262,706		Ensign Energy Services, Inc		1,484
	4,947,793		EOG Resources, Inc		478,649
	77,368	*,e	EP Energy Corp		252
	278,865		EQT Corp		18,193
	79,764	*	Era Group, Inc		893
	5,412	*	Esso SA Francaise		406
	8,418,200	*	Esso Thailand PCL (Foreign)		3,412
	30,170	*,e	Etablissements Maurel et Prom		134
	76,660	e	Euronav NV		631
	45,023		Evolution Petroleum Corp		324
	16,942	e	Exmar NV		90
	296,040	*	Exterran Corp		9,358
	257,179	*,e	Extraction Oil & Gas, Inc		3,958
	628,577		Exxaro Resources Ltd		5,724
	9,932,722	d	Exxon Mobil Corp		814,285
	1,141,997	*,†,e,m	Ezion Holdings Ltd		166
	285,369	*,e	Fairmount Santrol Holdings, Inc		1,364
	199,151	*,e	Faroe Petroleum plc		262
	3,984,814		Formosa Petrochemical Corp		13,764
	129,664	*	Forum Energy Technologies, Inc		2,062
	180,082	e	Frank’s International NV		1,390
	58,738	e	Freehold Royalty Trust		694
	149,868	e	Frontline Ltd		905
	44,525	e	Frontline Ltd (Sigmax MTF)		273
	52,609	*	Fugro NV		744
	396,118		Galp Energia SGPS S.A.		7,024
	167,251	e	GasLog Ltd		2,919
	347,206	*,e	Gastar Exploration, Inc		305
	7,201,555		Gazprom OAO (ADR)		30,219
	77,437		Gazpromneft OAO (ADR)		1,528
	55,275	e	Gaztransport Et Technigaz S.A.		3,004
	94,315	*,e	Gener8 Maritime, Inc		425
	4,805,000	*,e	Genesis Energy Holdings Ltd		93
	27,083	*	Geospace Technologies Corp		483
	258,106		Gibson Energy, Inc		3,666
	184,725	e	Golar LNG Ltd		4,177
	105,538		Great Eastern Shipping Co Ltd		624
	309,501		Green Plains Renewable Energy, Inc		6,236
	125,155		Grupa Lotos S.A.		2,050

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44,604		GS Holdings Corp	$	2,562
	120,190		Gujarat Mineral Development Corp Ltd		255
	35,150		Gulf International Services OSC		193
	31,699	e	Gulf Island Fabrication, Inc		403
	530,955	*	Gulfport Energy Corp		7,614
	228,430	*,e	Halcon Resources Corp		1,553
	33,239		Hallador Energy Co		190
	1,988,646		Halliburton Co		91,537
	313		Hankook Shell Oil Co Ltd		107
	270,569	*	Helix Energy Solutions Group, Inc		2,000
	131,028		Hellenic Petroleum S.A.		1,118
	234,740	e	Helmerich & Payne, Inc		12,232
	441,975		Hess Corp		20,724
	509,000		Hilong Holding Ltd		78
	1,260,497		Hindustan Petroleum Corp Ltd		8,243
	28,557		Hoegh LNG Holdings Ltd		264
	287,048		HollyFrontier Corp		10,325
	1,410,000	*	Honghua Group Ltd		121
	86,784	*	Hunting plc		552
	956,281	*,e	Hurricane Energy plc		420
	269,515	*	Husky Energy, Inc		3,374
	119,894		Idemitsu Kosan Co Ltd		3,388
	264,001	e	Imperial Oil Ltd		8,434
	181,171	*	Independence Contract Drilling, Inc		688
	1,196,506		Indian Oil Corp Ltd		7,345
	670,800		Inner Mongolia Yitai Coal Co		1,008
	958,048		Inpex Holdings, Inc		10,206
	881,050	e	Inter Pipeline Ltd		18,253
	1,914	*	International Petroleum Corp		8
	58,084	*	International Seaways, Inc		1,144
	14,167,507		IRPC PCL (Foreign)		2,681
	1,657	*,e	Isramco, Inc		192
	214,653		Itochu Enex Co Ltd		2,307
	897,242	*,e	Jagged Peak Energy, Inc		12,256
	2,600	*,e	Japan Drilling Co Ltd		49
	21,600		Japan Petroleum Exploration Co		468
	11,620	*	Jerusalem Oil Exploration		621
	781,878	e	John Wood Group plc		7,142
	4,725,160		JX Holdings, Inc		24,364
	438,297	*,e	Karoon Gas Australia Ltd		443
	187,282	*,e	Keane Group, Inc		3,124
	90,479	*	Kelt Exploration Ltd		517
	20,237	*,e	Key Energy Services, Inc		267
	349,220		Keyera Corp		10,675
	7,436,767		Kinder Morgan, Inc		142,637
	60,531		Koninklijke Vopak NV		2,655
	406,427	*,e	Kosmos Energy LLC		3,235
	253,957	*,e	Laredo Petroleum Holdings, Inc		3,284
	86,320	*,e	Lilis Energy, Inc		386
	364,614	*,e	Liquefied Natural Gas Ltd		113
	8,574		Lubelski Wegiel Bogdanka S.A.		176
	551,319		LUKOIL PJSC (ADR)		29,239
	141,771	*	Lundin Petroleum AB		3,107
	29,388	*,e	Mammoth Energy Services, Inc		495
	1,537,048		Marathon Oil Corp		20,842
	1,106,099		Marathon Petroleum Corp		62,030

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,136,893	*,e	Matador Resources Co	$	85,167
	91,886	*	Matrix Service Co		1,397
	859,490	*	McDermott International, Inc		6,249
	4,311,934	*,e	MEG Energy Corp		18,972
	98,754	*	Midstates Petroleum Co, Inc		1,535
	580,000	*	MIE Holdings Corp		54
	166,100		Modec, Inc		4,017
	1,130,200		MOL Hungarian Oil & Gas plc		12,853
	182,803		Motor Oil Hellas Corinth Refineries S.A.		4,366
	180,390		Mullen Group Ltd		2,465
	175,238		Murphy Oil Corp		4,654
	1,224,795		Nabors Industries Ltd		9,884
	75,606		Naphtha Israel Petroleum Corp Ltd		446
	812,954		National Oilwell Varco, Inc		29,047
	30,138	*	Natural Gas Services Group, Inc		856
	142,619	e	Navios Maritime Acq Corp		174
	38,369	*,e	NCS Multistage Holdings, Inc		924
	167,855		Neste Oil Oyj		7,336
	353,845		New Zealand Refining Co Ltd		652
	554,823	*	Newfield Exploration Co		16,462
	23,538,000	e	Newocean Energy Holdings Ltd		6,427
	168,793	*	Newpark Resources, Inc		1,688
	183,550	*	NexGen Energy Ltd		407
	22,100		Nippon Gas Co Ltd		687
	457,159	e	Noble Corp plc		2,103
	583,403		Noble Energy, Inc		16,545
	198,328	e	Nordic American Tanker Shipping		1,059
	60,322	*	Nostrum Oil & Gas plc		328
	135,117		NovaTek OAO (GDR)		15,876
	165,554	*	NuVista Energy Ltd		1,002
	487,683	*,e	Oasis Petroleum, Inc		4,448
	279,913	*,e	Obsidian Energy Ltd		296
	2,718,908		Occidental Petroleum Corp		174,581
	33,037	e	Ocean Yield ASA		297
	246,655		Oceaneering International, Inc		6,480
	1,410,400		Oil & Gas Development Co Ltd		1,990
	6,339,518		Oil Refineries Ltd		3,175
	1,240,476		Oil Search Ltd		6,844
	100,759	*	Oil States International, Inc		2,554
	443,516		OMV AG.		25,857
	318,955		Oneok, Inc		17,673
	618,911	*	Ophir Energy plc		603
	1,326,189	*	Origin Energy Ltd		7,810
	307,574		Overseas Shipholding Group, Inc		809
	306,748	*	Pacific Ethanol, Inc		1,702
	66,321	*,e	Painted Pony Energy Ltd		178
	58,300		Pakistan Oilfields Ltd		295
	94,300		Pakistan State Oil Co Ltd		396
	27,031		Panhandle Oil and Gas, Inc (Class A)		643
	161,457	*,e	Pantheon Resources plc		110
	142,859	*,e	Par Pacific Holdings, Inc		2,971
	313,577	*	Paramount Resources Ltd (Class A)		6,207
	95,699	*	Parex Resources, Inc		1,154
	241,555	*	Parker Drilling Co		266
	125,766		Parkland Fuel Corp		2,558
	6,782,028	*	Parsley Energy, Inc		178,639

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	133,707		Pason Systems, Inc	$	2,012
	641,052		Patterson-UTI Energy, Inc		13,424
	8,031		Paz Oil Co Ltd		1,323
	200,559	e	PBF Energy, Inc		5,537
	157,674	*	PDC Energy, Inc		7,731
	468,041	*	Peabody Energy Corp		13,578
	393,111		Pembina Pipeline Income Fund		13,793
	263,117	*,e	Pengrowth Energy Trust		268
	27,365	*	Penn Virginia Corp		1,094
	394,049		Petrofac Ltd		2,381
	7,575,805	*	Petroleo Brasileiro S.A.		37,817
	8,312,119	*	Petroleo Brasileiro S.A. (Preference)		40,155
	197,652	*,e	Petroleum Geo-Services ASA		470
	1,419,500		Petron		293
	480,859		Petronas Dagangan BHD		2,772
	255,392	e	Peyto Exploration & Development Corp		4,176
	25,430	*	PHI, Inc		299
	875,354		Phillips 66		80,191
	225,432	*	Pioneer Energy Services Corp		575
	603,370		Pioneer Natural Resources Co		89,021
	3,361,137		Plains All American Pipeline LP		71,223
	1,108,577		Plains GP Holdings LP		24,245
	4,720,058		Polish Oil & Gas Co		8,789
	452,815		Polski Koncern Naftowy Orlen S.A.		15,109
	100,100	*,†,m	Poseidon Concepts Corp		1
	110,183	e	PrairieSky Royalty Ltd		2,820
	174,443	*	Precision Drilling Trust		542
	1,985,911	*,e	Premier Oil plc		1,788
	48,794	*,e	ProPetro Holding Corp		700
	15,628,900	*	PT Bumi Resources Tbk		231
	3,037,200	*	PT Delta Dunia Petroindo Tbk		204
	530,000	*	PT Harum Energy Indonesia Tbk		84
	2,791,100		PT Indo Tambangraya Megah		4,199
	3,730,400	*	PT Medco Energi Internasional Tbk		217
	18,113,600	*	PT Sugih Energy Tbk		67
	424,080		PT Tambang Batubara Bukit Asam Tbk		329
	1,985,106		PT United Tractors Tbk		4,716
	1,411,421		PTT Exploration & Production PCL (Foreign)		3,794
	2,830,595		PTT PCL (Foreign)		34,629
	469,244		Qatar Gas Transport Co Ltd		2,036
	419,900		QGEP Participacoes S.A.		1,043
	764,120	*	Questar Market Resources, Inc		6,549
	131,974	*	Raging River Exploration, Inc		832
	563,027	e	Range Resources Corp		11,018
	11,433	*	Ranger Energy Services, Inc		168
	4,241,716		Reliance Industries Ltd		50,778
	239,911	*,e	Renewable Energy Group, Inc		2,915
	2,530,064		Repsol YPF S.A.		46,691
	39,850	*,e	Resolute Energy Corp		1,183
	11,813	*	Rex American Resources Corp		1,108
	395,739	*	Rice Energy, Inc		11,453
	25,727	*,e	RigNet, Inc		443
	91,186	*,e	Ring Energy, Inc		1,321
	3,946	*,e	Rosehill Resources, Inc		32
	905,595		Rosneft Oil Co (GDR)		5,039
	763,004	*	Rowan Cos plc		9,805

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,044,769		Royal Dutch Shell plc (A Shares)	$	152,462
	4,658,310		Royal Dutch Shell plc (B Shares)		143,411
	319,906	e	RPC, Inc		7,930
	4,181,424	*	RSP Permian, Inc		144,635
	438,122	*	Saipem S.p.A		1,892
	31,500		San-Ai Oil Co Ltd		350
	129,617	*,e	Sanchez Energy Corp		625
	98,534	*	SandRidge Energy, Inc		1,980
	2,133,243	*	Santos Ltd		6,765
	3,835,276		Sapurakencana Petroleum BHD		1,384
	772,278		Saras S.p.A.		2,072
	737,833		Sasol Ltd		20,191
	115,198		SBM Offshore NV		2,089
	3,884,791		Schlumberger Ltd		271,003
	7,091	e	Schoeller-Bleckmann Oilfield Equipment AG.		567
	400,224		Scorpio Tankers, Inc		1,373
	63,459	*	SEACOR Holdings, Inc		2,926
	29,379	*	SEACOR Marine Holdings, Inc		459
	1,163	*,b	Seadrill Ltd (Oslo Exchange)		0	^
	292,175	e	Secure Energy Services, Inc		2,028
	14,726	*,e	Select Energy Services, Inc		234
	276,827		SemGroup Corp		7,959
	348,500		Serba Dinamik Holdings Bhd		192
	50	*,†,m	Serval Integrated Energy Services		0
	551,130	*	Seven Generations Energy Ltd		8,719
	92		Shanxi Guoxin Energy Corp Ltd		0	^
	43,173		ShawCor Ltd		955
	128,000		Shinko Plantech Co Ltd		1,124
	112,299	e	Ship Finance International Ltd		1,628
	538,565		Showa Shell Sekiyu KK		6,209
	6,406,100		Siamgas & Petrochemicals PCL (Foreign)		3,830
	17,855	*	SilverBow Resources, Inc		438
	3,700		Sinanen Co Ltd		76
	622,000	e	Sinopec Kantons Holdings Ltd		420
	120,811		SK Energy Co Ltd		21,057
	17,233		SK Gas Co Ltd		1,421
	200,972		SM Energy Co		3,565
	42,967	*,e	Smart Sand, Inc		291
	2,493,437		Snam Rete Gas S.p.A.		12,016
	321,783		Soco International plc		498
	53,133		S-Oil Corp		5,934
	99,682	*,e	Solaris Oilfield Infrastructure, Inc		1,737
	403,803	*,e	Sound Energy plc		264
	1,027,755	*	Southwestern Energy Co		6,280
	103,135	*,e	Spartan Energy Corp		565
	379,926	*	SRC Energy, Inc		3,674
	4,065,549		Statoil ASA		81,736
	510,195		Stobart Group Ltd		1,847
	110,282	*,e	Stone Energy Corp		3,205
	779,837		Subsea 7 S.A.		12,833
	2,824,139		Suncor Energy, Inc		98,978
	427,588	*	Superior Energy Services		4,567
	186,133	e	Surge Energy, Inc		337
	1,065,215		Surgutneftegaz (ADR)		5,399
	354,200		Surgutneftegaz (ADR) (London)		1,796
	83,538	*,e	Tamarack Valley Energy Ltd		189
	1,669,549		Targa Resources Investments, Inc		78,970

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	441,104		Tatneft PAO (ADR)	$	18,871
	5,437	*	TechnipFMC plc		152
	4,254	*	TechnipFMC plc		118
	168,561	e	Tecnicas Reunidas S.A.		5,334
	98,831	e	Teekay Corp		883
	320,665	e	Teekay Tankers Ltd (Class A)		519
	106,624	*,e	Tellurian, Inc		1,139
	389,662		Tenaris S.A.		5,523
	109,146	*	Tesco Corp		595
	23,017		Tethys Oil AB		176
	380,924	*	Tetra Technologies, Inc		1,089
	62,940		TGS Nopec Geophysical Co ASA		1,501
	5,204,655		Thai Oil PCL (Foreign)		14,436
	73,031		TMK OAO (GDR)		349
	106,974	e	TORC Oil & Gas Ltd		527
	13,580	e	TORM plc		137
	51,895		Total Energy Services, Inc		590
	2,856,166	e	Total S.A.		153,360
	115,842	*	Tourmaline Oil Corp		2,355
	30,500		Toyo Kanetsu K K		1,135
	1,434,515		TransCanada Corp		70,901
	1,124	*	Transocean Ltd		12
	1,895,343	*,e	Transocean Ltd (NYSE)		20,394
	232,485	*	Trican Well Service Ltd		850
	167,046	*	Trinidad Drilling Ltd		253
	1,222,629	*	Tullow Oil plc		3,057
	190,022		Tupras Turkiye Petrol Rafine		6,485
	457,677	*	Ultra Petroleum Corp		3,968
	391,294		Ultrapar Participacoes S.A.		9,304
	568,569	*	UMW Oil & Gas Corp BHD		40
	374,706	*	Unit Corp		7,711
	275,409	*,e	Uranium Energy Corp		380
	157,778	e	US Silica Holdings Inc		4,902
	1,313,895		Valero Energy Corp		101,078
	196,414	*,e	Vallourec SA		1,167
	30,055		Verbio AG.		293
	664,102		Veresen, Inc		9,964
	48,764	e	Vermilion Energy, Inc		1,733
	653,137	*	W&T Offshore, Inc		1,992
	4,969,347	*,e	Weatherford International Ltd		22,760
	728,208	e	Whitecap Resources, Inc		5,661
	945,827	*	Whitehaven Coal Ltd		2,742
	834,616	*,e	Whiting Petroleum Corp		4,557
	40,034	*,e	WildHorse Resource Development Corp		533
	589,302	*	Willbros Group, Inc		1,898
	6,712,786		Williams Cos, Inc		201,451
	2,048,000	*	Wison Engineering Services Co Ltd		396
	1,276,724		Woodside Petroleum Ltd		29,235
	249,261		World Fuel Services Corp		8,452
	192,427	*	WorleyParsons Ltd		2,048
	3,437,275	*,n	WPX Energy, Inc		39,529
	2,593,066	e	Yanzhou Coal Mining Co Ltd		2,564
	324,300		Yinson Holdings BHD		275
	247,710		YPF S.A. (ADR) (Class D)		5,519
	481,999		Z Energy Ltd		2,563
			TOTAL ENERGY		7,596,703

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
FOOD & STAPLES RETAILING - 1.3%
	794,000		7-Eleven Malaysia Holdings BHD	$	293
	447,644		Aeon Co Ltd		6,616
	18,300		Ain Pharmaciez Inc		1,262
	1,811		Al Meera Consumer Goods Co		71
	526,436		Alimentation Couche Tard, Inc		24,007
	1,437,466		Almacenes Exito S.A.		7,568
	50,885		Andersons, Inc		1,743
	73,244		Arcs Co Ltd		1,652
	2,010,100	*	Atacadao Distribuicao Comercio e Industria Ltd		9,844
	64,682		Axfood AB		1,110
	26,200		Axial Retailing, Inc		1,008
	20,700		Belc Co Ltd		1,038
	22,482		BGF retail Co Ltd		1,633
	1,004,572	e	Bid Corp Ltd		22,549
	195,655		BIM Birlesik Magazalar AS		4,079
	3,452,141		Booker Group plc		9,488
	426,434		Carrefour S.A.		8,609
	97,423	e	Casey’s General Stores, Inc		10,663
	127,868		Casino Guichard Perrachon S.A.		7,583
	48,900		Cawachi Ltd		1,170
	1,977,006		Centros Comerciales Sudamericanos S.A.		6,044
	52,550	*	Chefs’ Warehouse Holdings, Inc		1,014
	562,317	*	Cia Brasileira de Distribuicao Grupo Pao de Acucar		13,316
	4,048		CJ Freshway Corp		128
	160,619		Clicks Group Ltd		1,871
	11,160		Cocokara Fine Holdings, Inc		637
	20,297	e	Colruyt S.A.		1,040
	102,200		Conviviality plc		564
	6,112,000		Cosco Capital, Inc		1,021
	21,900		Cosmos Pharmaceutical Corp		4,889
	4,884,729		CP Seven Eleven PCL (Foreign)		9,630
	86,200		Create SD Holdings Co Ltd		2,282
	2,201,023		CVS Health Corp		178,987
	5,200		Daikokutenbussaan Co Ltd		245
	176,100	g	Dis-Chem Pharmacies Ltd		366
	138,408	e	Distribuidora Internacional de Alimentacion S.A.		808
	32,061		Dongsuh Co, Inc		751
	32,864		E-Mart Co Ltd		5,995
	264,113		Empire Co Ltd		4,674
	77,656		Eurocash S.A.		822
	65,191		FamilyMart Co Ltd		3,434
	52,807		George Weston Ltd		4,598
	99,300		Growell Holdings Co Ltd		3,741
	217,900		Grupo Comercial Chedraui S.a. DE C.V.		435
	28,083		GS Retail Co Ltd		847
	3,800		Halows Co Ltd		81
	17,700		Heiwado Co Ltd		388
	29,938		Hyundai Greenfood Co Ltd		405
	329,232	e	ICA Gruppen AB		12,385
	27,291		Ingles Markets, Inc (Class A)		701
	2,400		Itochu-Shokuhin Co Ltd		108
	2,512,962		J Sainsbury plc		8,012
	124,258		Jean Coutu Group PJC, Inc		2,420

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	306,386		Jeronimo Martins SGPS S.A.	$	6,048
	7,700		Kansai Super Market Ltd		97
	14,700		Kato Sangyo Co Ltd		443
	39,970		Kesko Oyj (B Shares)		2,144
	7,400	e	Kobe Bussan Co Ltd		333
	3,770,059		Koninklijke Ahold Delhaize NV		70,442
	1,893,854		Kroger Co		37,991
	31,700		Kusuri no Aoki Holdings Co Ltd		1,882
	205,700	*,e	La Comer SAB de C.V.		207
	78,414	e	Lawson, Inc		5,193
	287,000	*	Lianhua Supermarket Holdings Co Ltd		118
	10,800		Life Corp		277
	248,485		Loblaw Cos Ltd		13,562
	772,000	*,e	Madison Holdings Group Ltd		193
	412,170		Magnit OAO (GDR)		16,875
	37,792		Majestic Wine plc		179
	484,000	*,e,g	Major Holdings Ltd		9
	74,133	e	MARR S.p.A.		1,954
	90,833		Massmart Holdings Ltd		748
	92,200		Matsumotokiyoshi Holdings Co Ltd		6,176
	1,060,235	e	Metcash Ltd		2,136
	78,283	*	Metro Wholesale & Food Specialist AG.		1,655
	532,044		Metro, Inc		18,297
	18,761	*	Migros Ticaret AS		136
	45,200		Ministop Co Ltd		878
	14,498	*,e	Natural Grocers by Vitamin C		81
	9,000		Nihon Chouzai Co Ltd		290
	144,951	e	North West Co, Inc		3,475
	42,000		Okuwa Co Ltd		434
	2,000		Olam International Ltd		3
	375,129	*	Performance Food Group Co		10,597
	346,140		Pick’n Pay Stores Ltd		1,473
	1,764,822		President Chain Store Corp		14,895
	42,477		Pricesmart, Inc		3,791
	687,100		PT Matahari Putra Prima Tbk		33
	22,000,000	*	PT Modern Internasional Tbk		82
	11,700		Qol Co Ltd		205
	210,902		Raia Drogasil S.A.		4,994
	69,688		Rallye S.A.		1,291
	14,490		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		740
	1,786,397	*,e	Rite Aid Corp		3,501
	515,620		Robinsons Retail Holdings, Inc		1,005
	8,179		Ryoshoku Ltd		239
	10,900		San-A Co Ltd		485
	729,173		Seven & I Holdings Co Ltd		28,171
	337,400	e	Sheng Siong Group Ltd		229
	27,600	*,e	Shoei Foods Corp		1,136
	803,708		Shoprite Holdings Ltd		12,282
	372,111		Shufersal Ltd		2,185
	42,031	*	Smart & Final Stores, Inc		330
	18,400		Sogo Medical Co Ltd		842
	1,975,105		Sonae SPGS S.A.		2,383
	287,251		Spar Group Ltd		3,547
	216,989		Spartan Stores, Inc		5,722
	784,000		Springland International Holdings Ltd		140

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	212,431	*	Sprouts Farmers Market, Inc	$	3,987
	23,400		Sugi Pharmacy Co Ltd		1,246
	2,455,527		Sun Art Retail Group Ltd		2,287
	64,712		Sundrug Co Ltd		2,682
	209,224	*	SUPERVALU, Inc		4,551
	575,079		Sysco Corp		31,026
	169,000		Taiwan TEA Corp		89
	22,397,312	*	Tesco plc		56,167
	26,900		Tsuruha Holdings, Inc		3,216
	207,516	*	United Natural Foods, Inc		8,631
	29,850		United Super Markets Holdings, Inc		286
	2,000,087	*	US Foods Holding Corp		53,402
	30,300		Valor Co Ltd		648
	14,351		Village Super Market (Class A)		355
	3,153,741		Walgreens Boots Alliance, Inc		243,532
	10,466,550		Wal-Mart de Mexico SAB de C.V.		23,968
	5,139,371		Wal-Mart Stores, Inc		401,590
	19,041		Weis Markets, Inc		828
	1,126,302		Wesfarmers Ltd		36,564
	4,109,492		WM Morrison Supermarkets plc		12,891
	1,353,529		Woolworths Ltd		26,805
	19,751	*	X 5 Retail Group NV (GDR)		887
	28,900	e	Yakuodo Co Ltd		755
	29,400		Yaoko Co Ltd		1,361
	23,500	e	Yokohama Reito Co Ltd		221
			TOTAL FOOD & STAPLES RETAILING		1,605,154
FOOD, BEVERAGE & TOBACCO - 4.8%
	1,481,680	*,e	a2 Milk Co Ltd		6,882
	21,456		AarhusKarlshamn AB		1,626
	554,118	*	Adecoagro S.A.		5,984
	12,440	e	AGT Food & Ingredients, Inc		244
	252,930		Agthia Group PJSC		366
	444,985		Ajinomoto Co, Inc		8,684
	7,386		Alico, Inc		252
	340,000		Alicorp S.A.		966
	3,461,069		Altria Group, Inc		219,501
	5,139,574		AMBEV S.A.		34,143
	66,562	*,e	Amplify Snack Brands, Inc		472
	178,537		Anadolu Efes Biracilik Ve Malt Sanayii AS		1,048
	291,322		Anheuser-Busch InBev S.A.		34,824
	80,200		Anhui Gujing Distillery Co Ltd		378
	697,558		Archer Daniels Midland Co		29,653
	11,200		Ariake Japan Co Ltd		804
	61,787		Aryzta AG.		1,898
	436,940		Asahi Breweries Ltd		17,669
	1,360,591		Associated British Foods plc		58,249
	25,555		Astral Foods Ltd		325
	11,834		Atria Group plc		168
	66,850		Austevoll Seafood ASA		697
	219,839	*,e	Australian Agricultural Co Ltd		266
	7,160		Avanti Feeds Ltd		223
	636,477		AVI Ltd		4,606
	124,851	e	B&G Foods, Inc (Class A)		3,977
	114,098		Bakkafrost P		5,242
	222,599		Balrampur Chini Mills Ltd		549

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,096		Barry Callebaut AG.	$	3,209
	4,471,100	*,e	Becle SAB de C.V.		7,513
	689,461	e	Bega Cheese Ltd		3,707
	970		Bell AG.		451
	52,338		Bellamy’s Australia Ltd		310
	10,422	*,e	Belvedere S.A.		175
	17,806		Binggrae Co Ltd		934
	121,799	*	Biostime International Holdings Ltd		596
	175,856	*	Blue Buffalo Pet Products, Inc		4,986
	20,238		Bonduelle S.C.A.		911
	27,967	*,e	Boston Beer Co, Inc (Class A)		4,368
	372,086		BRF S.A.		5,365
	395,704		British American Tobacco Malaysia BHD		4,099
	4,114,881		British American Tobacco plc		257,607
	88,672		British American Tobacco plc (ADR)		5,538
	2,066,456		Britvic plc		20,941
	117,913		Brown-Forman Corp		6,567
	174,005		Brown-Forman Corp (Class B)		9,448
	376,700		Bumitama Agri Ltd		204
	744,473		Bunge Ltd		51,711
	189,984		C&C Group plc		688
	30,275	e	Calavo Growers, Inc		2,216
	64,674	e	Calbee, Inc		2,271
	59,007	*,e	Cal-Maine Foods, Inc		2,425
	475,856		Campbell Soup Co		22,280
	54,441		Carlsberg AS (Class B)		5,974
	179,600		Carlsberg Brewery-Malay BHD		631
	178,848	*,e	Castle Brands, Inc		240
	596,300		Century Pacific Food, Inc		198
	2,029,000		Charoen Pokphand Enterprise		4,312
	3,106,906		Charoen Pokphand Foods PCL		2,497
	6,575,000		China Agri-Industries Holdings Ltd		3,068
	4,375,889	†,e,m	China Huishan Dairy Holdings Co Ltd		6
	370,000	*	China Huiyuan Juice Group Ltd		114
	2,888,946		China Mengniu Dairy Co Ltd		8,104
	984,000	*,e	China Modern Dairy Holdings		214
	1,753,164		China Resources Beer Holdings Company Ltd		4,757
	3,853,000	*,e,g	China Shengmu Organic Milk Ltd		686
	988,000	*,e	China Yurun Food Group Ltd		118
	398,952		Cia Cervecerias Unidas S.A.		5,371
	8,323		CJ CheilJedang Corp		2,577
	24,722	e	Clearwater Seafoods, Inc		178
	145,486		Cloetta AB		500
	230,040		Clover Industries Ltd		229
	519,020		Coca-Cola Amatil Ltd		3,150
	8,994		Coca-Cola Bottling Co Consolidated		1,940
	9,419,391		Coca-Cola Co		423,967
	214,568		Coca-Cola European Partners plc		8,996
	494,123		Coca-Cola European Partners plc (Class A)		20,565
	1,374,127		Coca-Cola Femsa S.A. de C.V.		10,618
	428,105		Coca-Cola HBC AG.		14,495
	70,457		Coca-Cola Icecek AS		736
	96,400		Coca-Cola West Japan Co Ltd		3,122
	2,172,000		Cofco International Ltd		1,109
	1,341,000	*,e	COFCO Meat Holdings Ltd		261
	4,291,122		ConAgra Foods, Inc		144,782

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	270,444		Constellation Brands, Inc (Class A)	$	53,940
	7,469		Corby Spirit and Wine Ltd		129
	618,805		Costa Group Holdings Ltd		2,719
	2,944,092		Costco Wholesale Corp		483,685
	87,092		Cott Corp (Toronto)		1,306
	25,810	*	Craft Brewers Alliance, Inc		453
	22,581	e	Crown Confectionery Co Ltd		340
	262		Dae Han Flour Mills Co Ltd		39
	84,858		Daesang Corp		1,648
	47,347		Daesang Holdings Co Ltd		384
	180,013	e	Dairy Crest Group plc		1,482
	559,701	*	Darling International, Inc		9,806
	7,309,438		Davide Campari-Milano S.p.A		53,097
	279,746		Dean Foods Co		3,044
	4,772,727		Diageo plc		156,954
	786		Dongwon F&B Co Ltd		136
	2,866		Dongwon Industries Co Ltd		697
	425,223		Dr Pepper Snapple Group, Inc		37,619
	4,900		Dydo Drinco, Inc		233
	1,214,000	*,†,e,m	Dynasty Fine Wines Group Ltd		2
	189,517		Easy Bio, Inc		1,022
	42,336	e	Ebro Puleva S.A.		1,003
	223,083		Embotelladora Andina S.A.		1,043
	943,701		Embotelladoras Arca SAB de C.V.		6,451
	1,291		Emmi AG.		847
	27,700		Ezaki Glico Co Ltd		1,462
	16,918	*	Farmer Bros Co		556
	60,224		Farmsco		616
	1,349,904		Felda Global Ventures Holdings BHD		541
	617,882		Fevertree Drinks plc		18,126
	1,134,368		First Resources Ltd		1,583
	252,097	e	Flowers Foods, Inc		4,742
	1,988,963		Fomento Economico Mexicano S.A. de C.V.		19,009
	352,536	e	Fonterra Shareholders’ Fund		1,589
	11,233		ForFarmers NV		146
	49,889		Freedom Foods Group Ltd		159
	303,269		Fresh Del Monte Produce, Inc		13,787
	48,989	*,e	Freshpet, Inc		767
	60,173		Fuji Oil Co Ltd		1,571
	11,632		Fujicco Co Ltd		275
	5,500		Fujiya Co Ltd		123
	591,857		General Mills, Inc		30,635
	258,814		Genting Plantations BHD		631
	1,719,000		GFPT PCL (Foreign)		1,028
	118,545		Glanbia plc		2,235
	8,146		Godfrey Phillips India Ltd		126
	5,067,634		Golden Agri-Resources Ltd		1,401
	730,884		GrainCorp Ltd-A		4,689
	1,231,272		Great Wall Enterprise Co		1,302
	429,788		Greencore Group plc		1,131
	9,254	e	Greenyard Foods		212
	279,239		Grieg Seafood ASA		2,750
	1,352,253		Groupe Danone		106,211
	245,450		Gruma SAB de C.V.		3,588
	1,529,616		Grupo Bimbo S.A. de C.V. (Series A)		3,693
	144,495	e	Grupo Herdez SAB de C.V.		349

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,152,648	e	Grupo Lala SAB de C.V.	$	3,641
	129,044	*	Hain Celestial Group, Inc		5,310
	3,919		Haitai Confectionery & Foods Co Ltd		52
	578,440		Harim & Co Ltd		1,736
	33,755		Heineken Holding NV		3,171
	896,207		Heineken NV		88,682
	403,950		Hershey Co		44,099
	12,632		High Liner Foods, Inc		142
	64,400		Hokuto Corp		1,122
	161,000	e,g	Honworld Group Ltd		77
	344,753		Hormel Foods Corp		11,080
	151,495	*,e	Hostess Brands, Inc		2,069
	28,117	*	Hotel Chocolat Group Ltd		115
	37,852		House Foods Corp		1,125
	477,200		Ichitan Group PCL		114
	312,576		Imperial Tobacco Group plc		13,341
	271,878		Indofood Agri Resources Ltd		91
	2,234,330		Indofood CBP Sukses Makmur Tbk		1,449
	380,800	e	Industrias Bachoco SAB de C.V.		2,123
	114,735	e	Inghams Group Ltd		338
	221,756		Ingredion, Inc		26,753
	2,346,497		IOI Corp BHD		2,526
	5,465,235		ITC Ltd		21,625
	33,100		Ito En Ltd		1,117
	303,500		Itoham Yonekyu Holdings, Inc		2,736
	55,145		J&J Snack Foods Corp		7,241
	128,572		J.M. Smucker Co		13,491
	1,682,809		Japan Tobacco, Inc		55,147
	200,700		Japfa Ltd		83
	742,697		JBS S.A.		1,993
	17,092		Jinro Ltd		393
	22,532		John B. Sanfilippo & Son, Inc		1,517
	8,800		J-Oil Mills, Inc		310
	330,786		Juhayna Food Industries		156
	46,173		Kagome Co Ltd		1,449
	8,100		Kameda Seika Co Ltd		358
	66,932		Kaveri Seed Co Ltd		531
	295,430		Kellogg Co		18,426
	7,400		Kenko Mayonnaise Co Ltd		181
	539,001		Kerry Group plc (Class A)		51,724
	10,200		KEY Coffee, Inc		196
	614,060		Khon Kaen Sugar Industry PCL		84
	107,771		Kikkoman Corp		3,311
	1,148,790		Kirin Brewery Co Ltd		26,990
	45,351		Koninklijke Wessanen NV		852
	13,500		Kotobuki Spirits Co Ltd		482
	3,924,505		Kraft Heinz Co		304,345
	79,112		KRBL Ltd		594
	117,446		KT&G Corp		10,838
	498,151		Kuala Lumpur Kepong BHD		2,897
	1,859		KWS Saat AG.		814
	30,689		La Doria S.p.A		505
	659,452		Lamb Weston Holdings, Inc		30,922
	76,165		Lancaster Colony Corp		9,149
	55,928	*	Landec Corp		724
	1,236,313		Leroy Seafood Group ASA		7,918

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	418,753		Lien Hwa Industrial Corp	$	408
	11,540	*	Lifeway Foods, Inc		103
	25,256		Limoneira Co		585
	176		Lindt & Spruengli AG.		1,004
	22		Lindt & Spruengli AG. (Registered)		1,527
	683	m	Lotte Chilsung Beverage Co Ltd		811
	5,963	m	Lotte Confectionery Co Ltd		870
	441	m	Lotte Samkang Co Ltd		235
	284,080		M Dias Branco S.A.		4,458
	17,360	*	Maeil Dairies Co Ltd		1,038
	17,011	e	Maeil Dairy Industry Co Ltd		270
	138,600		Malee Group PCL		162
	78,855		Maple Leaf Foods, Inc		2,149
	146,800	*	Marfrig Global Foods S.A.		300
	190,000		Marudai Food Co Ltd		900
	240,600		Maruha Nichiro Corp		7,073
	115,927		McCormick & Co, Inc		11,899
	37,367		McLeod Russel India Ltd		94
	118,700		Megmilk Snow Brand Co Ltd		3,228
	86,568		MEIJI Holdings Co Ltd		6,855
	23,988	e	MGP		1,454
	70,300		Minerva S.A.		249
	67,300		Mitsui Sugar Co Ltd		2,266
	1,583,297		Molson Coors Brewing Co (Class B)		129,260
	6,447,960		Mondelez International, Inc		262,174
	4,465,757	*	Monster Beverage Corp		246,733
	28,460		Morinaga & Co Ltd		1,585
	101,600		Morinaga Milk Industry Co Ltd		3,883
	29,397		Muhak Co Ltd		466
	13,000	e	Nagatanien Co Ltd		151
	55,000		Namchow Chemical Industrial Ltd		110
	235		Namyang Dairy Products Co Ltd		137
	70,181	e	National Beverage Corp		8,706
	5,871	*,e	Naturex		665
	33,150		Nestle India Ltd		3,668
	2,822,538		Nestle S.A.		236,927
	174,100		Nichirei Corp		4,368
	20,300		Nippon Beet Sugar Manufacturing Co Ltd		438
	112,800		Nippon Flour Mills Co Ltd		1,719
	299,705		Nippon Meat Packers, Inc		8,237
	671,613		Nippon Suisan Kaisha Ltd		3,751
	81,000		Nisshin Oillio Group Ltd		2,659
	164,907		Nisshin Seifun Group, Inc		2,761
	47,573		Nissin Food Products Co Ltd		2,891
	1,945		Nong Shim Co Ltd		583
	1,111		Nong Shim Holdings Co Ltd		107
	71,060		Norway Royal Salmon ASA		1,494
	88,224		Oceana Group Ltd		536
	183,878		Omega Protein Corp		3,062
	216,687		Origin Enterprises plc		1,706
	8,639		Orion Corp		172
	24,168	*	Orion Corp		2,047
	11,923		Orior AG.		923
	234,220		Orkla ASA		2,403
	1,274		Ottogi Corp		816
	1,138,195		PAN Fish ASA		22,508

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,022,997	n	PepsiCo, Inc	$	448,282
	33,251		Pernod-Ricard S.A.		4,600
	865		Philip Morris CR		652
	5,130,718		Philip Morris International, Inc		569,561
	157,190	*,e	Pilgrim’s Pride Corp		4,466
	2,780,098	n	Pinnacle Foods, Inc		158,938
	118,843		Pioneer Foods Ltd		990
	926,794	*	Post Holdings, Inc		81,808
	1,226,091		PPB Group BHD		4,896
	425,260	*	Premier Foods plc		239
	69,461		Premium Brands Holdings Corp		5,539
	406,000		Prima Meat Packers Ltd		2,748
	50,167	*	Primo Water Corp		594
	5,692,200		PT Austindo Nusantara Jaya		651
	6,904,600	*	PT BW Plantation Tbk		132
	7,172,118		PT Charoen Pokphand Indonesia Tbk		1,460
	1,145,611		PT Gudang Garam Tbk		5,599
	9,019,700		PT Hanjaya Mandala Sampoerna Tbk		2,585
	4,311,991		PT Indofood Sukses Makmur Tbk		2,700
	2,957,700		PT Japfa Comfeed Indonesia Tbk		279
	956,900		PT Nippon Indosari Corpindo Tbk		90
	2,004,900		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		210
	7,021,600		PT Salim Ivomas Pratama Tbk		271
	1,454,500		PT Sawit Sumbermas Sarana Tbk		164
	1,915,500		PT Tunas Baru Lampung Tbk		198
	63		Pulmuone Co Ltd		6
	65,800		Q.P. Corp		1,588
	574,859		QAF Ltd		513
	607,685		QL Resources BHD		571
	35,330	g	Refresco Gerber NV		712
	218,989		Remy Cointreau S.A.		25,941
	12,000,000		RFM Corp		1,063
	88,003		Rhodes Food Group Pty Ltd		119
	15,800		Riken Vitamin Co Ltd		597
	12,200		Rock Field Co Ltd		217
	190,391	e	Rogers Sugar, Inc		964
	41,200		Rokko Butter Co Ltd		881
	120,580		Royal Unibrew A.S.		6,607
	28,300		S Foods, Inc		1,099
	1,891		Sajo Industries Co Ltd		111
	17,955		Sakata Seed Corp		511
	203,280		Salmar ASA		5,749
	1,449		Samlip General Foods Co Ltd		164
	2,054		Samyang Corp		169
	1,870		Samyang Foods Co Ltd		92
	10,290		Samyang Holdings Corp		795
	59,762		Sanderson Farms, Inc		9,653
	106,000		Sao Martinho S.A.		595
	198,700		Sapporo Holdings Ltd		5,356
	334,147		Saputo, Inc		11,566
	29,818		Scandi Standard AB		219
	89,448	g	Scandinavian Tobacco Group A.S.		1,587
	62,461		Schouw & Co		6,799
	920		Seaboard Corp		4,145
	38,436	e	Select Harvests Ltd		117

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,327	*	Seneca Foods Corp	$	460
	227,100	*	Shanghai Dajiang Group		135
	11,400		Showa Sangyo Co Ltd		295
	35,000		SLC Agricola S.A.		273
	164,903		Snyder’s-Lance, Inc		6,289
	500,541		Standard Foods Corp		1,222
	16,200		Starzen Co Ltd		791
	170,081		Stock Spirits Group plc		547
	27,729		Strauss Group Ltd		521
	189,473		Suedzucker AG.		4,075
	270,383		Suntory Beverage & Food Ltd		12,027
	177,838		Swedish Match AB		6,246
	101,600		Takara Holdings, Inc		927
	147,400		Taokaenoi Food & Marketing PCL		101
	271,965		Tassal Group Ltd		823
	450,583		Tata Tea Ltd		1,422
	852,574		Tate & Lyle plc		7,403
	1,933,000	e	Tenwow International Holdings Ltd		489
	1,788,609		Thai Union Group PCL		1,073
	1,015,000		Thai Vegetable Oil PCL		875
	1,222,600	*	Thaifoods Group PCL		219
	1,446,000	e	Tibet 5100 Water Resources Holdings Ltd		561
	1,366,600	*	Tiga Pilar Sejahtera Food Tbk		94
	192,520		Tiger Brands Ltd		5,368
	2,133,190		Tingyi Cayman Islands Holding Corp		3,216
	68,251		Tongaat Hulett Ltd		580
	31,724	e	Tootsie Roll Industries, Inc		1,206
	69,946		Toyo Suisan Kaisha Ltd		2,570
	582,060		Treasury Wine Estates Ltd		6,262
	162,646	*	TreeHouse Foods, Inc		11,016
	393,579		Tsingtao Brewery Co Ltd		1,512
	164,000		Ttet Union Corp		486
	10,822	*	Turning Point Brands, Inc		184
	778,355		Tyson Foods, Inc (Class A)		54,835
	150,505		Ulker Biskuvi Sanayi AS		817
	7,446,977		Uni-President Enterprises Corp		15,614
	60,248	*	United Spirits Ltd		2,215
	47,454		Universal Corp		2,719
	944,534		Universal Robina		2,845
	560,325	e	Vector Group Ltd		11,470
	544,509		Vina Concha y Toro S.A.		905
	24,459		Viscofan S.A.		1,500
	3,884,614		Want Want China Holdings Ltd		2,737
	42,600		Warabeya Nichiyo Co Ltd		1,087
	268,000	*	Wei Chuan Food Corp		167
	17,182,818	g	WH Group Ltd		18,300
	1,896,008		Wilmar International Ltd		4,455
	96,031	e	Yakult Honsha Co Ltd		6,911
	134,616		Yamazaki Baking Co Ltd		2,430
	645,000	e	Yashili International		138
	261,000	e	Yihai International Holding Ltd		209
	2,528,000	*	YuanShengTai Dairy Farm Ltd		127
	388,000	g	Zhou Hei Ya International Holdings Co Ltd		378
	8,738		Zydus Wellness Ltd		120
			TOTAL FOOD, BEVERAGE & TOBACCO		5,964,087

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 4.2%
	23,866	*,e	AAC Holdings, Inc	$	237
	41,823		Abaxis, Inc		1,867
	7,708,293		Abbott Laboratories		411,314
	104,685	*	Abiomed, Inc		17,650
	255,164	*,e	Acadia Healthcare Co, Inc		12,187
	157,856	*,e	Accuray, Inc		631
	160,974		Aceto Corp		1,808
	19,023	*	Addus HomeCare Corp		672
	360,211		Advanced Medical Solutions Group plc		1,399
	868,808		Aetna Inc		138,149
	328,571	*	AGFA-Gevaert NV		1,568
	149,810	*	Alere, Inc		7,639
	338,455		Alfresa Holdings Corp		6,201
	3,810,659	*,e	Alibaba Health Information Technology Ltd		1,908
	85,862	*	Align Technology, Inc		15,994
	27,600	*	Alliar Medicos A Frente S.A.		148
	348,633	*	Allscripts Healthcare Solutions, Inc		4,961
	24,773	*	Almost Family, Inc		1,330
	18,053		Ambu A.S.		1,398
	89,240	*	Amedisys, Inc		4,994
	19,011	*,e	American Renal Associates Holdings, Inc		285
	687,538		AmerisourceBergen Corp		56,894
	90,553	*	AMN Healthcare Services, Inc		4,138
	300,008		Amplifon S.p.A.		4,567
	33,381		Analogic Corp		2,796
	228,656	*	Angiodynamics, Inc		3,908
	27,474	*	Anika Therapeutics, Inc		1,593
	224,446		Ansell Ltd		3,933
	262,793	*,e	Antares Pharma, Inc		851
	926,677		Anthem, Inc		175,957
	87,241		Apollo Hospitals Enterprise Ltd		1,344
	10,300		As One Corp		548
	36,100		Asahi Intecc Co Ltd		1,883
	48,297	*,e	athenahealth, Inc		6,006
	61,414	*	AtriCure, Inc		1,374
	6,341		Atrion Corp		4,261
	188,277	g	Attendo AB		2,167
	3,811,800		Australian Pharmaceutical Industries Ltd		4,468
	52,720	*	AxoGen, Inc		1,020
	1,041,550		Bangkok Chain Hospital PCL		475
	4,279,045		Bangkok Dusit Medical Services PCL		2,632
	101,013		Bard (C.R.), Inc		32,375
	1,934,353		Baxter International, Inc		121,381
	254,487		Becton Dickinson & Co		49,867
	3,072,000	*	Beijing Enterprises Medical & Health Group Ltd		170
	14,461	*,e,g	Biocartis NV		178
	225,707	*,e	BioScrip, Inc		621
	141,656	*	BioTelemetry, Inc		4,675
	31,000		Bioteque Corp		84
	73,500		BML, Inc		1,573
	8,397		Boditech Med, Inc		112
	7,166,287	*	Boston Scientific Corp		209,041
	386,000	*	Brookdale Senior Living, Inc		4,092
	1,286,165		Bumrungrad Hospital PCL (Foreign)		8,292
	100,442		Cantel Medical Corp		9,459

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	235,778	g	Capio AB	$	1,383
	47,926	*,e	Capital Senior Living Corp		601
	944,229		Cardinal Health, Inc		63,188
	166,382	*	Cardiovascular Systems, Inc		4,684
	99,948		Carl Zeiss Meditec AG.		5,229
	125,956	*,e	Castlight Health, Inc		542
	153		Celesio AG.		5
	1,150,232	*	Centene Corp		111,308
	772,096	*	Cerner Corp		55,066
	206,294	*,e	Cerus Corp		563
	23,733	*	CHA Bio & Diostech Co Ltd		243
	30,153		Chemed Corp		6,092
	1,092,500		China NT Pharma Group Co Ltd		286
	278,000		China Pioneer Pharma Holdings Ltd		93
	368,500	e	China Resources Phoenix Healthcare Holdings Co Ltd		461
	2,645,800		Chularat Hospital PCL		195
	2,093,984		Cigna Corp		391,449
	53,886	*	Civitas Solutions, Inc		994
	73,928		Cochlear Ltd		9,247
	25,331		Coloplast AS		2,060
	178,543	*,e	Community Health Systems, Inc		1,371
	17,663		CompuGroup Medical AG.		1,001
	21,003	e	Computer Programs & Systems, Inc		621
	81,453	*,e	ConforMIS, Inc		287
	52,014		Conmed Corp		2,729
	1,040,652	g	ConvaTec Group plc		3,824
	96,756		Cooper Cos, Inc		22,942
	239,838	*,e	Corindus Vascular Robotics, Inc		365
	43,798	*	Corvel Corp		2,383
	181,761	*	Cotiviti Holdings, Inc		6,540
	204,352	*	CRH Medical Corp		532
	163,348	*	Cross Country Healthcare, Inc		2,324
	92,091	*	CryoLife, Inc		2,090
	98,478	*	Cutera, Inc		4,072
	37,659		CVS Group plc		732
	149,700	*,e	CYBERDYNE, Inc		1,996
	50,000	e	Daiken Medical Co Ltd		347
	1,251,234		Danaher Corp		107,331
	423,829	*	DaVita, Inc		25,171
	295,541		Dentsply Sirona, Inc		17,676
	186,801	*,e	DexCom, Inc		9,139
	70,087		DiaSorin S.p.A.		6,251
	6,226	*	DIO Corp		165
	292,995	*	Diplomat Pharmacy, Inc		6,068
	10,853	g	Dr Lal PathLabs Ltd		133
	35,307		Draegerwerk AG.		3,921
	6,598		Draegerwerk AG. & Co KGaA		555
	642,210	*	Edwards Lifesciences Corp		70,200
	9,200		Eiken Chemical Co Ltd		359
	35,156		El.En. S.p.A		987
	229,615	e	Elekta AB (B Shares)		2,377
	132,361		EMIS Group plc		1,636
	159,167	*,e	Endologix, Inc		710
	89,997		Ensign Group, Inc		2,033
	24,387	*,e	Entellus Medical, Inc		450

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	323,502	*	Envision Healthcare Corp	$	14,541
	171,091		Essilor International S.A.		21,205
	1,757,127	e	Estia Health Ltd		4,377
	98,815	*,e	Evolent Health, Inc		1,759
	28,569	*	Exactech, Inc		941
	1,803,463	*	Express Scripts Holding Co		114,195
	255,375	e	Extendicare, Inc		1,910
	194,546	*,e	Fagron NV		2,838
	350,950		Fisher & Paykel Healthcare Corp		3,242
	327,600		Fleury S.A.		3,048
	15,434	*	FONAR Corp		471
	1,000,000	*	Fortis Healthcare Ltd		2,209
	211,598		Fresenius Medical Care AG.		20,687
	338,721		Fresenius SE		27,392
	16,800		Fukuda Denshi Co Ltd		1,245
	78,207	*,e	Genesis Health Care, Inc		91
	87,178	*	GenMark Diagnostics, Inc		840
	9,199	*,m	Getinge AB		173
	65,674		Getinge AB (B Shares)		1,233
	29,000		Ginko International Co Ltd		199
	54,974	*,e	Glaukos Corp		1,814
	135,092	*	Globus Medical, Inc		4,015
	455,828		GN Store Nord		15,648
	728,000	*	Golden Meditech Holdings Ltd		103
	26,200		Green Hospital Supply, Inc		809
	11,076		Guerbet		1,032
	122,998	*	Haemonetics Corp		5,519
	200,755	*	Halyard Health, Inc		9,040
	240,000	e,g	Harmonicare Medical Holdings Ltd		94
	565,700		Hartalega Holdings BHD		933
	1,095,238	*	HCA Holdings, Inc		87,170
	173,089	*	HealthEquity, Inc		8,755
	444,678		Healthscope Ltd		584
	418,533		Healthsouth Corp		19,399
	48,064	*	HealthStream, Inc		1,123
	197,585	*	Henry Schein, Inc		16,200
	28,097	*	Heska Corp		2,475
	143,987		Hill-Rom Holdings, Inc		10,655
	404,821	*	HMS Holdings Corp		8,040
	41,994		Hogy Medical Co Ltd		2,982
	606,485	*	Hologic, Inc		22,252
	219,336		Hoya Corp		11,861
	24,623	e	Humana AB		173
	809,829		Humana, Inc		197,299
	2,609		Huons Global Co Ltd		99
	28,818	*	ICU Medical, Inc		5,356
	324,971	*	Idexx Laboratories, Inc		50,530
	1,394,042		IHH Healthcare BHD		1,899
	97,500	*,e	iKang Healthcare Group, Inc (ADR)		1,314
	6,732		InBody Co Ltd		169
	82,786	*	Inogen Inc		7,873
	142,608	*,e	Inovalon Holdings, Inc		2,431
	34,900		Instituto Hermes Pardini S.A.		339
	111,488	*	Insulet Corp		6,141
	145,867	*	Integer Holding Corp		7,461
	121,469	*,e	Integra LifeSciences Holdings Corp		6,132

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,740		Interojo Co Ltd	$	149
	154,373	*	Intuitive Surgical, Inc		161,456
	63,512	e	Invacare Corp		1,000
	13,060	e	Ion Beam Applications		445
	123,818	*	iRhythm Technologies, Inc		6,424
	5,718		i-SENS Inc		110
	50,300	e	Japan Lifeline Co Ltd		2,494
	1,334,001	e	Japara Healthcare Ltd		1,877
	40,000		Jeol Ltd		204
	76,810	*	K2M Group Holdings, Inc		1,629
	163,123		Kindred Healthcare, Inc		1,109
	1,447,975		Koninklijke Philips Electronics NV		59,743
	59,200		Korian-Medica		1,950
	597,800		Kossan Rubber Industries		977
	2,933,492		KPJ Healthcare BHD		723
	246,538	*	Laboratory Corp of America Holdings		37,220
	17,566		Landauer, Inc		1,182
	248,127	*	Lantheus Holdings, Inc		4,417
	3,800		Le Noble Age		253
	116,031		LeMaitre Vascular, Inc		4,342
	161,181	*	LHC Group, Inc		11,431
	4,179	e	Lifco AB		136
	1,238,627		Life Healthcare Group Holdings Pte Ltd		2,164
	62,158	*	LifePoint Hospitals, Inc		3,599
	1,402,000	*,e	Lifetech Scientific Corp		330
	138,240	*	LivaNova plc		9,685
	10,360		Lutronic Corp		99
	134,235		M3, Inc		3,827
	128,490	*	Magellan Health Services, Inc		11,089
	14,200		Mani, Inc		341
	183,722	*	Masimo Corp		15,903
	30,224	*	Mazor Robotics Ltd		741
	378,305		McKesson Corp		58,111
	134,955		Medical Facilities Corp		1,686
	10,219		Medicare Group		198
	180,635		Mediceo Paltac Holdings Co Ltd		3,139
	325,745	e	Mediclinic International plc		2,837
	116,491	*	Medidata Solutions, Inc		9,093
	4,838	*	Medipost Co Ltd		359
	250,984	*	MEDNAX, Inc		10,822
	3,196,666		Medtronic plc		248,605
	29,000		Menicon Co Ltd		1,147
	78,000		Meridian Bioscience, Inc		1,115
	162,829	*	Merit Medical Systems, Inc		6,896
	709,812		Metlifecare Ltd		2,975
	136,500		Microlife Corp		330
	1,609,229		Microport Scientific Corp		1,483
	105,393		Miraca Holdings, Inc		4,906
	260,000	e	Modern Dental Group Ltd		93
	380,253	*	Molina Healthcare, Inc		26,146
	16,236		Nagaileben Co Ltd		409
	19,100		Nakanishi, Inc		864
	145,443	*	Nanosonics Ltd		298
	35,132	*,e	NantHealth, Inc		145
	33,696	*	Narayana Hrudayalaya Ltd		156
	33,441		National Healthcare Corp		2,092

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,089		National Research Corp	$	720
	116,600	*	Natus Medical, Inc		4,372
	71,130	*	Neogen Corp		5,510
	989,680		Network Healthcare Holdings Ltd		1,745
	4,675		Neuca S.A.		359
	229,094	*	Nevro Corp		20,820
	270,100		Nichii Gakkan Co		2,784
	47,300		Nihon Kohden Corp		1,024
	39,667		Nikkiso Co Ltd		369
	598,600		Nipro Corp		8,263
	193,925		NMC Health plc		7,174
	31,017	e,g	NNIT A.S.		937
	110,676	*	Novocure Ltd		2,197
	840,045	*	NuVasive, Inc		46,589
	163,457	*	NxStage Medical, Inc		4,511
	17,885	*,e	Obalon Therapeutics, Inc		170
	841,770		Odontoprev S.A.		4,101
	429,782		Olympus Corp		14,564
	70,694	*	Omnicell, Inc		3,609
	393,612	*	OraSure Technologies, Inc		8,856
	178,717		Oriola-KD Oyj (B Shares)		719
	29,797	e	Orpea		3,532
	134,991	*	Orthofix International NV		6,378
	7,374	*	Osstem Implant Co Ltd		450
	209,779		Owens & Minor, Inc		6,126
	70,166	*	Oxford Immunotec Global plc		1,179
	52,000		Paramount Bed Holdings Co Ltd		2,236
	143,900		Patterson Cos, Inc		5,562
	56,218	*,e	Penumbra, Inc		5,076
	29,294	*	PetIQ, Inc		793
	82,558	*	PharMerica Corp		2,419
	71,097		Phonak Holding AG.		12,068
	79,000	*,†,m	Pihsiang Machinery Manufacturing Co Ltd		45
	360,508	*	Premier, Inc		11,742
	1,127,866		Primary Health Care Ltd		2,732
	116,020	*	Providence Service Corp		6,274
	197,262	*	PT Siloam International Hospitals Tbk		146
	18,036	*,e	Pulse Biosciences, Inc		336
	2,056,000	*	PW Medtech Group Ltd		440
	196,687		Qualicorp S.A.		2,354
	108,529	*	Quality Systems, Inc		1,707
	371,590		Quest Diagnostics, Inc		34,796
	67,424	*	Quidel Corp		2,957
	72,010	*	Quorum Health Corp		373
	54,779	*,e	Quotient Ltd		270
	191,523	*,e	R1 RCM, Inc		711
	150,764	*	RadNet, Inc		1,741
	572,784	e	Raffles Medical Group Ltd		475
	82,548		Ramsay Health Care Ltd		4,039
	14,326	e	RaySearch Laboratories AB		306
	436,822	e	Regis Healthcare Ltd		1,194
	7,957,500		Religare Health Trust		5,016
	170,574		Resmed, Inc		13,127
	18,030		Rhoen Klinikum AG.		608
	211,000		Rion Co Ltd		4,272
	89,851	*,e	Rockwell Medical, Inc		769

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	137,899	*	RTI Biologics, Inc	$	627
	292,933		Ryman Healthcare Ltd		1,963
	21,972		Sartorius AG.		2,102
	20,273		Sartorius Stedim Biotech		1,405
	877,716		Selcuk Ecza Deposu Ticaret ve Sanayi AS		808
	206,618	*	Select Medical Holdings Corp		3,967
	1,844,415		Shandong Weigao Group Medical Polymer Co Ltd		1,311
	663,040		Shanghai Pharmaceuticals Holding Co Ltd		1,624
	124,151	e	Sienna Senior Living, Inc		1,798
	36,643	*,e	Sientra, Inc		564
	1,048,503		Sigma Healthcare Ltd		680
	18,775	e	Simulations Plus, Inc		291
	1,286,271		Sinopharm Group Co		5,698
	885,724		Smith & Nephew plc		16,010
	1,415,058		Sonic Healthcare Ltd		23,253
	462,352	g	Spire Healthcare Group plc		1,397
	29,000		St. Shine Optical Co Ltd		615
	79,827	*	Staar Surgical Co		994
	344,428		STERIS plc		30,447
	11,197	e	STRATEC Biomedical AG.		670
	15,851		Straumann Holding AG.		10,194
	727,909		Stryker Corp		103,378
	3,890		Suheung Capsule Co Ltd		113
	481,259		Summerset Group Holdings Ltd		1,766
	961,200		Supermax Corp BHD		387
	37,058	*,e	Surgery Partners, Inc		384
	47,082	*	SurModics, Inc		1,460
	123,145		Suzuken Co Ltd		4,380
	40,798		Sysmex Corp		2,607
	18,353	*	Tabula Rasa HealthCare, Inc		491
	18,178	*,e	Tactile Systems Technology, Inc		563
	307,821	*,e	Teladoc, Inc		10,204
	49,055		Teleflex, Inc		11,870
	226,534	*,e	Tenet Healthcare Corp		3,722
	162,876		Terumo Corp		6,406
	70,304	*	Tivity Health, Inc		2,868
	114,100	e	Toho Pharmaceutical Co Ltd		2,183
	7,200		Tokai Corp (GIFU)		308
	2,123,800		Top Glove Corp BHD		2,791
	2,414,000	e	Town Health International Medical Group Ltd		216
	212,496	*	Triple-S Management Corp (Class B)		5,032
	34,700		Tsuki Corp		240
	1,070,772		United Drug plc		12,204
	2,950,447		UnitedHealth Group, Inc		577,845
	545,971		Universal Health Services, Inc (Class B)		60,570
	2,483,000	e,g	Universal Medical Financial & Technical Advisory Services Co Ltd		2,059
	48,425		US Physical Therapy, Inc		2,976
	6,910		Utah Medical Products, Inc		508
	4,886		Value Added Technologies Co Lt		117
	106,617	*	Varex Imaging Corp		3,608
	195,215	*	Varian Medical Systems, Inc		19,533
	474,811	*	Veeva Systems, Inc		26,784
	2,866,400		Vibhavadi Medical Center PCL (Foreign)		242
	4,377		Vieworks Co Ltd		150
	181,348	*,e	ViewRay, Inc		1,045

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	245,378	e	Virtus Health Ltd	$	1,076
	65,600		VITAL KSK Holdings, Inc		544
	31,597	*,e	Viveve Medical, Inc		166
	52,954	*	Vocera Communications, Inc		1,661
	391,919	*	WellCare Health Plans, Inc		67,308
	70,690		West Pharmaceutical Services, Inc		6,805
	121,437	*	William Demant Holding A.S.		3,211
	230,317	*	Wright Medical Group NV		5,958
	9,312	e	Ypsomed Holding AG.		1,441
	533,620		Zimmer Holdings, Inc		62,482
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		5,197,073
HOUSEHOLD & PERSONAL PRODUCTS - 1.5%
	22,484		Able C&C Co Ltd		313
	32,725		Amorepacific Corp		7,429
	9,664		Amorepacific Corp (Preference)		1,316
	210,248		Asaleo Care Ltd		256
	2,708	*	Avon Products, Inc		6
	56,121		Bajaj Corp Ltd		342
	72,544		Beiersdorf AG.		7,811
	6,384		Bioland Ltd		86
	7,843	e	Blackmores Ltd		727
	229,670	*	Central Garden & Pet Co		8,920
	243,035	*	Central Garden and Pet Co (Class A)		9,038
	30,000		Chlitina Holding Ltd		103
	453,074		Church & Dwight Co, Inc		21,951
	3,676	e	CLIO Cosmetics Co Ltd		106
	124,066		Clorox Co		16,366
	3,448,682		Colgate-Palmolive Co		251,237
	2,592		Cosmax BTI, Inc		66
	4,762	e	Cosmax, Inc		528
	626,409		Coty, Inc		10,355
	864,237		Dabur India Ltd		4,038
	46,600		Dr Ci:Labo Co Ltd		1,643
	8,500		Earth Chemical Co Ltd		384
	71,915	*	Edgewell Personal Care Co		5,233
	57,694		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		70
	41,496	*,e	elf Beauty, Inc		936
	220,437		Energizer Holdings, Inc		10,151
	533,478	*	Essity AB		14,545
	1,733,561		Estee Lauder Cos (Class A)		186,947
	38,100	*,e	Euglena Co Ltd		401
	15,446		Eveready Industries India Ltd		70
	23,200		Fancl Corp		501
	9,381		Gillette India Ltd		807
	346,946		Godrej Consumer Products Ltd		4,891
	66,000		Grape King Industrial Co		398
	1,982,647		Hengan International Group Co Ltd		18,387
	38,607		Henkel KGaA		4,701
	264,068		Henkel KGaA (Preference)		35,977
	153,918	*,e	Herbalife Ltd		10,440
	994,974		Hindustan Lever Ltd		17,899
	226,750	*	HRG Group, Inc		3,540
	21,709		Inter Parfums S.A.		866
	72,032		Inter Parfums, Inc		2,971

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,556		It’s Skin Co Ltd	$	64
	54,073		Jyothy Laboratories Ltd		336
	574,409		Kao Corp		33,817
	238,350		Karex BHD		85
	576,280		Kimberly-Clark Corp		67,817
	1,456,916		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		2,964
	30,300		Kobayashi Pharmaceutical Co Ltd		1,718
	5,904		Kolmar BNH Co Ltd		169
	8,688		Korea Kolmar Co Ltd		576
	5,095		Korea Kolmar Holdings Co Ltd		171
	23,800		Kose Corp		2,728
	9,467		LG Household & Health Care Ltd		7,737
	2,151		LG Household & Health Care Ltd (Preference)		1,123
	617,100		Lion Corp		11,276
	559,861		L’Oreal S.A.		118,715
	98,158		Mandom Corp		2,704
	860,401		Marico Ltd		4,100
	112,835		Medifast, Inc		6,699
	253,924	*	Microbio Co Ltd		177
	7,000		Milbon Co Ltd		425
	555,298		Natura Cosmeticos S.A.		5,470
	14,525	e	Natural Health Trends Corp		347
	23,186		Nature’s Sunshine Products, Inc		235
	9,700		Noevir Holdings Co Ltd		535
	114,579		Nu Skin Enterprises, Inc (Class A)		7,044
	6,979	*,e	NUTRIBIOTECH Co Ltd		110
	920,000		NVC Lighting Holdings Ltd		109
	10,138		Oil-Dri Corp of America		496
	50,811		Ontex Group NV		1,731
	18,624	e	Orchids Paper Products Co		262
	25,193	*	Oriflame Holding AG.		860
	29,943		Pacific Corp		3,233
	179,800		Pigeon Corp		6,147
	254,800		Pola Orbis Holdings, Inc		7,705
	6,342,535		Procter & Gamble Co		577,044
	6,890,900		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		242
	3,409,329		PT Unilever Indonesia Tbk		12,397
	210,288		PZ Cussons plc		901
	376,621		Reckitt Benckiser Group plc		34,411
	23,739	*,e	Revlon, Inc (Class A)		583
	6,867	*	Sansung Life & Science Co Ltd		70
	304,091		Shiseido Co Ltd		12,170
	106,305	e	Spectrum Brands, Inc		11,260
	27,616		TCI Co Ltd		174
	3,764		Tonymoly Co Ltd		51
	432,699		Uni-Charm Corp		9,911
	2,503,634		Unilever NV		147,992
	1,454,294		Unilever plc		84,174
	75,657	*	USANA Health Sciences, Inc		4,365
	393,000	e	Vinda International Holdings Ltd		739
	26,105		WD-40 Co		2,921
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,859,842
INSURANCE - 4.2%
	170,084		Admiral Group plc		4,145
	497,896		Aegon NV		2,902

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	358,563		Aflac, Inc	$	29,183
	42,847		Ageas		2,015
	14,574,914		AIA Group Ltd		107,902
	15,084	*	Alleghany Corp		8,357
	597,269		Allianz AG.		134,139
	824,437		Allstate Corp		75,774
	199,661		Alm Brand AS		1,966
	218,147	*	AMBAC Financial Group, Inc		3,765
	198,009		American Equity Investment Life Holding Co		5,758
	117,540		American Financial Group, Inc		12,160
	9,132,231		American International Group, Inc		560,628
	8,115		American National Insurance Co		958
	36,161		Amerisafe, Inc		2,105
	359,217	e	Amtrust Financial Services, Inc		4,835
	66,066		Anadolu Hayat Emeklilik AS		128
	160,633		Anadolu Sigorta		129
	29,200	e	Anicom Holdings, Inc		753
	115,465		Aon plc		16,869
	217,022	*	Arch Capital Group Ltd		21,377
	659,876		Argo Group International Holdings Ltd		40,582
	120,979		Arthur J. Gallagher & Co		7,446
	252,562		Aspen Insurance Holdings Ltd		10,204
	463,963		ASR Nederland NV		18,559
	522,673		Assicurazioni Generali S.p.A.		9,749
	142,145		Assurant, Inc		13,578
	253,084		Assured Guaranty Ltd		9,554
	3,336,102	*	Athene Holding Ltd		179,616
	31,816	*	Atlas Financial Holdings, Inc		601
	7,129,973		Aviva plc		49,211
	18,353		AvivaSA Emeklilik ve Hayat AS.		96
	3,978,669		AXA S.A.		120,284
	132,930		Axis Capital Holdings Ltd		7,618
	30,067		Bajaj Finserv Ltd		2,376
	19,477		Baldwin & Lyons, Inc (Class B)		439
	11,777		Baloise Holding AG.		1,865
	680,474		BB Seguridade Participacoes S.A.		6,151
	1,139,695		Beazley plc		7,330
	3,990,730	*	Berkshire Hathaway, Inc (Class B)		731,580
	17,618		Blue Capital Reinsurance Holdings Ltd		290
	90,084	*	Brighthouse Financial, Inc		5,477
	158,126		Brown & Brown, Inc		7,620
	8,163,316		Cathay Financial Holding Co Ltd		13,009
	243,714		Chesnara plc		1,288
	1,902,394		China Insurance International Holdings Co Ltd		5,119
	8,445,290		China Life Insurance Co Ltd		25,315
	2,695,805		China Life Insurance Co Ltd (Taiwan)		2,542
	5,800,039		China Pacific Insurance Group Co Ltd		25,135
	3,135,292		Chubb Ltd		446,936
	121,091		Cincinnati Financial Corp		9,272
	81,639	*,e	Citizens, Inc (Class A)		600
	11,247	*	Clal Insurance		190
	55,189		CNA Financial Corp		2,773
	197,324		CNP Assurances		4,626
	462,124		Conseco, Inc		10,786
	3,630,000	*,e	Convoy Financial Holdings Ltd		92
	375,669		Corp Mapfre S.A.		1,224

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,589		Crawford & Co (Class B)	$	545
	2,214,611		Dai-ichi Mutual Life Insurance Co		39,725
	959,189		Direct Line Insurance Group plc		4,676
	352,991		Discovery Holdings Ltd		3,671
	27,835		Donegal Group, Inc (Class A)		449
	40,477		Dongbu Insurance Co Ltd		2,586
	20,000	e	Dream Incubator, Inc		400
	30,656	*	eHealth, Inc		732
	16,856		EMC Insurance Group, Inc		474
	60,080		Employers Holdings, Inc		2,731
	21,608	*	Enstar Group Ltd		4,805
	31,734		Erie Indemnity Co (Class A)		3,826
	627,845		esure Group plc		2,375
	29,479		Euler Hermes S.A.		3,483
	85,886		Everest Re Group Ltd		19,616
	38,493		Fairfax Financial Holdings Ltd		20,032
	26,837		FBL Financial Group, Inc (Class A)		1,999
	57,042		Federated National Holding Co		890
	20,938	e	Fidelity & Guaranty Life		650
	393,745		First American Financial Corp		19,675
	607,338		FNF Group		28,824
	1,078,081	e	Fondiaria-Sai S.p.A		2,521
	1,349,302	*	Genworth Financial, Inc (Class A)		5,195
	245,756		Gjensidige Forsikring BA		4,281
	17,587	*	Global Indemnity Ltd		746
	391,132		Great-West Lifeco, Inc		11,257
	66,270	*	Greenlight Capital Re Ltd (Class A)		1,435
	96,659		Grupo Catalana Occidente S.A.		4,073
	46,531	*	Hallmark Financial Services		540
	65,844		Hannover Rueckversicherung AG.		7,941
	49,347		Hanover Insurance Group, Inc		4,783
	132,095		Hanwha Non-Life Insurance Co Ltd		928
	565,425		Harel Insurance Investments & Finances Ltd		3,546
	934,159		Hartford Financial Services Group, Inc		51,780
	295,193	g	Hastings Group Holdings Ltd		1,203
	15,695	e	HCI Group, Inc		600
	22,543	*,e	Health Insurance Innovations, Inc		327
	3,988		Helvetia Holding AG.		2,167
	48,162	e	Heritage Insurance Holdings, Inc		636
	506,636		Hiscox Ltd		8,693
	77,272		Horace Mann Educators Corp		3,041
	283,372		Hyundai Marine & Fire Insurance Co Ltd		11,239
	4,260		IDI Insurance Co Ltd		271
	13,332		Independence Holding Co		337
	76,517		Industrial Alliance Insurance and Financial Services, Inc		3,465
	46,499		Infinity Property & Casualty Corp		4,380
	350,078	g	ING Life Insurance Korea Ltd		14,541
	3,037,729		Insurance Australia Group Ltd		15,214
	175,552		Intact Financial Corp		14,501
	2,888		Investors Title Co		517
	116,139		James River Group Holdings Ltd		4,817
	563,400	e	Japan Post Holdings Co Ltd		6,656
	1,800		Japan Post Insurance Co Ltd		39
	345,810		Just Retirement Group plc		681
	76,264		Kemper Corp		4,042

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,765	e	Kingstone Cos, Inc	$	306
	61,559		Kinsale Capital Group, Inc		2,658
	138,906		Korea Life Insurance Co Ltd		832
	57,490		Korean Reinsurance Co		570
	138,739		Lancashire Holdings Ltd		1,241
	14,874,953		Legal & General Group plc		51,846
	103,388		Liberty Holdings Ltd		803
	2,275,871		Lincoln National Corp		167,231
	221,296		Loews Corp		10,591
	270,000		Long Bon International Co Ltd		127
	32,506		Lotte Non-Life Insurance Co Ltd		101
	283,052		Maiden Holdings Ltd		2,250
	2,714,562		Manulife Financial Corp		55,064
	349,016		Manulife Financial Corp		7,082
	9,840	*	Markel Corp		10,509
	1,762,720		Marsh & McLennan Cos, Inc		147,734
	83,753		Max India Ltd		759
	189,100	*	Max India Ltd (New)		404
	239,938	*	MBIA, Inc		2,087
	2,723,218		Medibank Pvt Ltd		6,248
	45,447		Menorah Mivtachim Holdings Ltd		539
	641,444		Mercuries & Associates Holding Ltd		474
	520,549	*	Mercuries Life Insurance Co Lt		260
	30,571	e	Mercury General Corp		1,733
	143,421		Meritz Fire & Marine Insurance Co Ltd		3,090
	2,037,282		Metlife, Inc		105,837
	779,651	e	Metropolitan Holdings Ltd		999
	1,436,408	*	Migdal Insurance Holdings Ltd		1,497
	47,340		Mirae Asset Life Insurance Co Ltd		207
	830,298		Mitsui Sumitomo Insurance Group Holdings, Inc		26,757
	60,798		Muenchener Rueckver AG.		13,012
	274,182		National General Holdings Corp		5,240
	4,512		National Western Life Group, Inc		1,575
	38,704		Navigators Group, Inc		2,258
	711,782		New China Life insurance Co Ltd		4,048
	20,219	*	NI Holdings, Inc		362
	1,160,099		NKSJ Holdings, Inc		45,208
	287,684		NN Group NV		12,047
	38,202		Novae Group plc		366
	1,073,165		Old Mutual plc		2,796
	372,700		Old Republic International Corp		7,338
	23,212,288		People’s Insurance Co Group of China Ltd		10,417
	229,327		Phoenix Group Holdings		2,323
	38,329	*	Phoenix Holdings Ltd		176
	8,247,826		PICC Property & Casualty Co Ltd		14,631
	9,199,126	e	Ping An Insurance Group Co of China Ltd		71,058
	87,574		Porto Seguro S.A.		1,042
	789,512	e,g	Poste Italiane S.p.A		5,816
	646,241		Power Corp Of Canada		16,423
	597,856		Power Financial Corp		16,583
	1,004,273		Powszechny Zaklad Ubezpieczen S.A.		12,675
	87,401		Primerica, Inc		7,128
	407,198		Principal Financial Group		26,199
	190,551		ProAssurance Corp		10,414
	4,465,158	n	Progressive Corp		216,203
	41,247	e	Protector Forsikring ASA		405

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	437,682		Prudential Financial, Inc	$	46,534
	5,382,501		Prudential plc		128,806
	57,256,000	*	PT Panin Insurance Tbk		3,465
	280,859,000	*	PT Panin Life Tbk		5,090
	123,250		Qatar Insurance Co SAQ		1,772
	1,865,500		QBE Insurance Group Ltd		14,707
	162,900		Qualitas Controladora SAB de C.V.		269
	559,865		Rand Merchant Investment Holdings Ltd		1,715
	123,818		Reinsurance Group of America, Inc (Class A)		17,276
	116,222		RenaissanceRe Holdings Ltd		15,706
	74,006		RLI Corp		4,245
	854,341		RSA Insurance Group plc		7,138
	27,728		Safety Insurance Group, Inc		2,116
	1,267,420		Saga plc		3,370
	1,761,136		Sampo Oyj (A Shares)		93,207
	25,263		Samsung Fire & Marine Insurance Co Ltd		6,191
	57,810		Samsung Life Insurance Co Ltd		5,714
	1,404,568		Sanlam Ltd		7,017
	100,782		SCOR SE		4,227
	148,710		Selective Insurance Group, Inc		8,008
	6,590,361		Shin Kong Financial Holding Co Ltd		1,978
	178,000		Shinkong Insurance Co Ltd		155
	412,793		Societa Cattolica di Assicurazioni SCRL		3,586
	1,247,092		Sony Financial Holdings, Inc		20,464
	31,231		State Auto Financial Corp		819
	86,636		State National Cos, Inc		1,818
	452,746		Steadfast Group Ltd		993
	38,367		Stewart Information Services Corp		1,449
	1,441,428		Storebrand ASA		12,265
	137,894		Sul America SA		779
	627,187		Sun Life Financial, Inc		24,977
	971,363		Suncorp-Metway Ltd		9,974
	16,408		Swiss Life Holding		5,785
	281,295		Swiss Re Ltd		25,498
	221,300		Syarikat Takaful Malaysia BHD		199
	718,542		T&D Holdings, Inc		10,424
	231,000		Taiwan Fire & Marine Insurance Co		152
	2,600,200		Thai Reinsurance PCL		145
	1,877,174	*	Third Point Reinsurance Ltd		29,284
	1,768,187		Tokio Marine Holdings, Inc		69,202
	25,568		Tong Yang Life Insurance		171
	156,297	*	Topdanmark AS		6,157
	118,467		Torchmark Corp		9,488
	288,296		Travelers Cos, Inc		35,322
	34	*	Trisura Group Ltd		1
	41,765	*,e	Trupanion, Inc		1,103
	162,459		Tryg A.S.		3,756
	239,300		Tune Ins Holdings BHD		65
	1,589,241		Unipol Gruppo Finanziario S.p.A		7,292
	292,668		Uniqa Versicherungen AG.		3,066
	91,747		United Fire & Casualty Co		4,204
	34,809	e	United Insurance Holdings Corp		567
	163,698	e	Universal Insurance Holdings, Inc		3,765
	208,714		UnumProvident Corp		10,672
	268,704		Validus Holdings Ltd		13,223
	755,992		W.R. Berkley Corp		50,455

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,775		White Mountains Insurance Group Ltd	$	4,092
	117,438		Wiener Staedtische Allgemeine Versicherung AG.		3,470
	257,367	e	Willis Towers Watson plc		39,694
	42,000		Wiz Solucoes e Corretagem de Seguros S.A.		228
	30,149		Wuestenrot & Wuerttembergische AG.		820
	552,276		XL Group Ltd		21,787
	373,843		Zurich Financial Services AG.		114,239
			TOTAL INSURANCE		5,179,273
MATERIALS - 5.2%
	152,854		A. Schulman, Inc		5,220
	14,330		Aarti Industries		196
	129,650		Acerinox S.A.		1,872
	29,899		Achilles Corp		601
	13,645	m	Acron JSC (GDR)		81
	73,534		Adana Cimento		128
	213,500		ADEKA Corp		3,896
	308,493		Adelaide Brighton Ltd		1,414
	42,380	e	Advanced Emissions Solutions, Inc		465
	20,278		Advanced Enzyme Technologies Ltd		78
	16,976		Advanced Metallurgical Group NV		732
	121,416	*	AdvanSix, Inc		4,826
	78,703		Aeci Ltd		589
	96,386		African Barrick Gold Ltd		251
	68,407		African Rainbow Minerals Ltd		516
	235,286		Agnico-Eagle Mines Ltd		10,633
	362,365		Agrium, Inc		38,834
	116,808	*,e	AgroFresh Solutions, Inc		821
	7,400		Aichi Steel Corp		291
	270,523		Air Liquide		36,076
	233,342		Air Products & Chemicals, Inc		35,286
	15,822		Air Water, Inc		292
	3,116		AK Holdings, Inc		177
	3,439,866	*,e	AK Steel Holding Corp		19,229
	34,000		Akcansa Cimento AS		106
	7,314		Akzo Nobel India Ltd		216
	38,799		Akzo Nobel NV		3,578
	183,755		Alamos Gold, Inc		1,241
	704,402	n	Albemarle Corp		96,017
	418,458		Alcoa Corp		19,509
	1,456,865		Alexandria Mineral Oils Co		981
	209,013	e	Allegheny Technologies, Inc		4,995
	24,685		Altius Minerals Corp		236
	432,266		Altri SGPS S.A.		2,283
	1,750,083		Alumina Ltd		3,033
	4,531,445	*,e	Aluminum Corp of China Ltd		4,065
	795,661		Ambuja Cements Ltd		3,249
	868,986		Amcor Ltd		10,393
	88,282		American Vanguard Corp		2,022
	18,602		Ampco-Pittsburgh Corp		324
	3,729,000		AMVIG Holdings Ltd		1,060
	2,011,919		Anadolu Cam Sanayii AS		1,169
	175,572	*	Anatolia Minerals Development Ltd		307
	74,802	*	Anglo American Platinum Ltd		1,911
	1,744,296		Anglo American plc (London)		31,360
	267,159		AngloGold Ashanti Ltd		2,510

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,342,369		Anhui Conch Cement Co Ltd	$	5,388
	684,186		Antofagasta plc		8,715
	159,308		APERAM		8,349
	62,719		Aptargroup, Inc		5,413
	1,248,645	*	ArcelorMittal		32,210
	303,163	*,e	ArcelorMittal (ADR)		7,809
	34,904	e	Ardagh Group S.A.		747
	337,528		Arkema		41,415
	17,974		Asahi Holdings, Inc		370
	1,177,255		Asahi Kasei Corp		14,507
	112,110	*,e	Asanko Gold, Inc		106
	1,098,703		Ashland Global Holdings, Inc		71,844
	934,500		Asia Cement China Holdings Corp		330
	151		Asia Cement Co Ltd		11
	2,390,024		Asia Cement Corp		2,112
	108,754		Asia Polymer		68
	387,636		Asian Paints Ltd		6,727
	92,037		Associated Cement Co Ltd		2,337
	133,005		Assore Ltd		2,722
	5,324		Atul Ltd		195
	66,819		Aurubis AG.		5,417
	335,628		Avery Dennison Corp		33,006
	263,558	*	Axalta Coating Systems Ltd		7,622
	603,002	*	B2Gold Corp		1,662
	60,611		Balchem Corp		4,927
	654,544		Ball Corp		27,033
	1,646,020		Barrick Gold Corp (Canada)		26,489
	7,492		BASF India Ltd		173
	566,519		BASF SE		60,355
	12,300		Bayer CropScience Ltd		735
	12,000,000	e	BBMG Corp		6,114
	81,030		Bekaert S.A.		3,890
	214,309		Bemis Co, Inc		9,766
	34,600	*	Bengang Steel Plates Co		15
	2,985,029	*	Berry Plastics Group, Inc		169,102
	3,483,783		BHP Billiton Ltd		70,650
	3,188,431		BHP Billiton plc		56,263
	465,857		Billerud AB		7,902
	15,186		Birla Corp Ltd		209
	645,383		BlueScope Steel Ltd		5,575
	206,319	*	Boise Cascade Co		7,201
	237,760		Boliden AB		8,065
	1,058,465		Boral Ltd		5,644
	174,291		Borregaard ASA		1,954
	35,346		Borusan Mannesmann Boru Sanayi		105
	189,879	*	Boryszew S.A.		521
	146,100		Bradespar S.A.		1,112
	160,075		Braskem S.A.		2,145
	165,425		Brickworks Ltd		1,756
	46,076		Buzzi Unicem S.p.A.		1,245
	29,164		Buzzi Unicem S.p.A. RSP		451
	60,586		Cabot Corp		3,381
	206,800		Cahya Mata Sarawak BHD		196
	99,136		Calgon Carbon Corp		2,122
	407,907	*	Canfor Corp		7,663
	82,316		Canfor Pulp Products, Inc		878

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,226		CAP S.A.	$	503
	202,509		Carpenter Technology Corp		9,727
	231,912		Cascades, Inc		2,781
	124,734		CCL Industries		6,036
	100,773		Celanese Corp (Series A)		10,508
	24,909		Cementir S.p.A.		210
	364,946		Cementos Argos S.A.		1,454
	1,536,800	*,g	CEMEX Holdings Philippines, Inc		152
	95,247	*	Cemex Latam Holdings S.A.		374
	19,500,978	*	Cemex S.A. de C.V.		17,723
	674,707		Centamin plc		1,311
	423,545		Centerra Gold, Inc		2,984
	93,174	*	Century Aluminum Co		1,545
	41,754		Century Plyboards India Ltd		160
	17,342		Century Textile & Industries Ltd		325
	168,426		CF Industries Holdings, Inc		5,922
	27,543		Chase Corp		3,068
	1,592,838		Chemours Co		80,614
	232,560		Cheng Loong Corp		137
	258,000	*,e	Chiho-Tiande Group Ltd		140
	1,168,695		China BlueChemical Ltd		382
	3,892,000	*,e	China Daye Non-Ferrous Metals Mining Ltd		58
	3,819,240		China General Plastics Corp		3,807
	171,000		China Hi-ment Corp		299
	551,250		China Manmade Fibers Corp		155
	178,112		China Metal Products		176
	858,455	*,†,e,m	China Metal Recycling Holdings Ltd		1
	452,000	*,g	China Metal Resources Utilization Ltd		175
	3,085,282	e	China National Building Material Co Ltd		2,148
	735,000		China National Materials Co Ltd		416
	1,394,628	*	China Petrochemical Development Corp		641
	5,962,200	*,†,e,m	China Shanshui Cement Group Ltd		3,335
	3,778,000	e	China Silver Group Ltd		1,135
	5,334	*	China Singyes New Materials Holdings Ltd		1
	101,000		China Steel Chemical Corp		390
	13,790,303		China Steel Corp		11,086
	330,817		China Synthetic Rubber Corp		491
	292,000		China Wood Optimization Holding Ltd		81
	297,000		China XLX Fertiliser Ltd		98
	12,000	*	Chongqing Iron & Steel Co Ltd		2
	71,857		Christian Hansen Holding		6,168
	34,500		Chugoku Marine Paints Ltd		289
	613,000	*	Chung Hung Steel Corp		214
	13,540		Chung Hwa Pulp Corp		5
	367,671		Cia de Minas Buenaventura S.A. (ADR) (Series B)		4,703
	581,848	*	Cia Siderurgica Nacional S.A.		1,765
	18,219		Ciech S.A.		325
	150,901		Cimsa Cimento Sanayi Ve Tica		601
	236,530	e	Clariant AG.		5,670
	31,667	*	Clearwater Paper Corp		1,560
	573,857	*	Cleveland-Cliffs, Inc		4,103
	78,236	*	Codexis, Inc		520
	693,158	*	Coeur Mining, Inc		6,370
	220,062		Commercial Metals Co		4,188
	86,132	*,†,m	Companhia Vale do Rio Doce		0
	64,914	e	Compass Minerals International, Inc		4,213

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	142,624		Corbion NV	$	4,600
	13,619		Core Molding Technologies, Inc		299
	89,220		Coromandel International Ltd		590
	24,052		Corticeira Amorim SGPS S.A.		337
	296,916	g	Covestro AG.		25,550
	99,000		CPMC Holdings Ltd		58
	273,464		CRH plc		10,404
	39,148		Croda International plc		1,991
	741,314	*	Crown Holdings, Inc		44,271
	1,889,117		CSR Ltd		7,035
	1,651,200		D&L Industries Inc		328
	1,154,000	e	Da Ming International Holdings Ltd		512
	327,999		Daicel Chemical Industries Ltd		3,955
	46,000		Daido Steel Co Ltd		2,733
	29,700		Daiken Corp		751
	16,171		Dainichiseika Color & Chemicals Manufacturing Co Ltd		738
	169,300		Dainippon Ink and Chemicals, Inc		6,139
	66,172	e	Daio Paper Corp		782
	34,000	e	Daiso Co Ltd		877
	28,285		Dalmia Bharat Ltd		1,114
	20,375		Deltic Timber Corp		1,802
	168,000		Denki Kagaku Kogyo KK		5,541
	107,980	*	Detour Gold Corp		1,191
	155,700		DG Khan Cement Co Ltd		217
	9,423		Dhanuka Agritech Ltd		97
	153,236		Dominion Diamond Corp		2,173
	150,230		Domtar Corp		6,518
	19,531		Dongjin Semichem Co Ltd		322
	267,626		Dongkuk Steel Mill Co Ltd		2,509
	2,608		Dongwha Enterprise Co Ltd		81
	147,800		Dowa Holdings Co Ltd		5,429
	8,604,684		DowDuPont, Inc		595,702
	758,450		DS Smith plc		5,014
	251,508		DSM NV		20,590
	6,891	*	Duk San Neolux Co Ltd		132
	893,985		DuluxGroup Ltd		4,920
	120,492		Eagle Materials, Inc		12,857
	619,800		Eastern Polymer Group PCL		214
	138,834		Eastman Chemical Co		12,563
	140,319		Ecolab, Inc		18,046
	112,917		EID Parry India Ltd		594
	124,405	*	El Ezz Steel Co		130
	534,379		Eldorado Gold Corp		1,173
	283,346		Elementis plc		1,029
	2,920,510		Empresas CMPC S.A.		7,688
	6,964		EMS-Chemie Holding AG.		4,635
	599,918		Ence Energia y Celulosa S.A.		3,123
	43,908	*	Endeavour Mining Corp		878
	74,733	*,e	Endeavour Silver Corp		178
	45,100		Engro Chemical Pakistan Ltd		130
	1,064,500		Engro Fertilizers Ltd		636
	5,683	*	Eramet		386
	4,376,305		Eregli Demir ve Celik Fabrikalari TAS		9,496
	33,140		Essel Propack Ltd		128
	162,262	e	Essentra plc		1,200

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	387,032		Eternal Chemical Co Ltd	$	394
	810,467		Eugene Corp		3,896
	250,128		Everlight Chemical Industrial Corp		155
	727,755		Evolution Mining Ltd		1,260
	355,793		Evonik Industries AG.		12,721
	924,717		Evraz plc		3,883
	330,300		Fauji Fertilizer Co Ltd		261
	346,050		Feng Hsin Iron & Steel Co		602
	2,412,229		Ferrexpo plc		9,452
	276,766	*	Ferro Corp		6,172
	202,348	*,m	Ferroglobe plc		0
	230,230		Fibria Celulose S.A.		3,115
	11,886		Finolex Industries Ltd		116
	102,476	*,e	First Majestic Silver Corp		700
	1,704,498		First Quantum Minerals Ltd		19,138
	3,678,409		Fletcher Building Ltd		21,260
	101,571	*,e	Flotek Industries, Inc		472
	427,750		FMC Corp		38,202
	34,017	*	Foosung Co Ltd		303
	2,903,354		Formosa Chemicals & Fibre Corp		8,841
	10,189,176		Formosa Plastics Corp		30,899
	86,220		Formosan Rubber Group, Inc		44
	255,604	g	Forterra plc		953
	5,944,608		Fortescue Metals Group Ltd		24,074
	98,715	*	Fortuna Silver Mines, Inc		432
	152,691		Foshan Huaxin Packaging Co Ltd		98
	15,100		FP Corp		772
	243,672		Franco-Nevada Corp		18,877
	6,198,800	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		87,031
	266,159		Fresnillo plc		5,015
	4,258		Frutarom Industries Ltd		328
	55,346		Fuchs Petrolub AG. (Preference)		3,278
	3,666,200		Fufeng Group Ltd		2,519
	26,900		Fuji Seal International, Inc		814
	11,300		Fujimi, Inc		264
	9,000		Fujimori Kogyo Co Ltd		304
	262,000	e	Furukawa-Sky Aluminum Corp		7,471
	1,643,800		Fushan International Energy Group Ltd		375
	23,500		Fuso Chemical Co Ltd		752
	24,956,000	*	Future World Financial Holdings Ltd		604
	45,416		FutureFuel Corp		715
	227,159	*,e	Galaxy Resources Ltd		465
	1,220,038	*	GCP Applied Technologies, Inc		37,455
	3,703,712		Gerdau S.A. (Preference)		12,910
	1,462		Givaudan S.A.		3,183
	22,008,348		Glencore Xstrata plc		101,018
	359,959		Gloria Material Technology Corp		239
	4,400		Godo Steel Ltd		82
	67,381		Godrej Industries Ltd		608
	529,751		Gold Fields Ltd		2,291
	98,474	*,e	Gold Resource Corp		369
	808,715	e	Goldcorp, Inc		10,500
	7,364,418		Goldsun Development & Construction Co Ltd		2,217
	6,105,000		Grand Pacific Petrochemical		4,588
	60,760		Granges AB		696
	1,276,378		Graphic Packaging Holding Co		17,805

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	486,804		Grasim Industries Ltd	$	8,463
	605,755	*,†,m	Great Basin Gold Ltd		5
	1,733,000		Greatview Aseptic Packaging Co		1,065
	31,900		Green Seal Holding Ltd		72
	28,723		Greenply Industries Ltd		120
	11,403		Greif, Inc		733
	49,156		Greif, Inc (Class A)		2,878
	15,096,942		G-Resources Group Ltd		199
	281,565		Grupo Argos S.A.		2,025
	3,579,344		Grupo Mexico S.A. de C.V. (Series B)		10,946
	64,436		Gubre Fabrikalari TAS		84
	26,696		Gujarat Flourochemicals		277
	268,207		Gujarat Narmada Valley Fertilizers Co Ltd		1,247
	915		Gurit Holding AG.		1,050
	445,460	*	Guyana Goldfields, Inc		1,492
	21,777	*	H&R GmbH & Co KGaA		361
	96,537		H.B. Fuller Co		5,605
	72,241		Han Kuk Carbon Co Ltd		369
	5,847	*	Handy & Harman Ltd		190
	9,126		Hanil Cement Manufacturing		936
	5,953		Hansol Chemical Co Ltd		379
	14,825	*	Hansol Paper Co		77
	56,060		Hansol Paper Co Ltd		815
	112,719		Hanwha Chemical Corp		3,207
	1,152,126		Harmony Gold Mining Co Ltd		2,064
	18,709		Hawkins, Inc		763
	22,421		Haynes International, Inc		805
	816,235		Hecla Mining Co		4,098
	26,275		HeidelbergCement AG.		2,704
	52,837		HeidelbergCement India Ltd		96
	152,291		Hexpol AB		1,604
	62,516		Hill & Smith Holdings plc		1,059
	1,183,622		Hindalco Industries Ltd		4,373
	192,026		Hitachi Chemical Co Ltd		5,269
	180,234		Hitachi Metals Ltd		2,512
	421,971	*	Ho Tung Chemical Corp		126
	151,170		Hochschild Mining plc		465
	629,629	e	Hokuetsu Paper Mills Ltd		3,935
	259,960		Holcim Ltd		15,219
	104,075		Holmen AB (B Shares)		4,877
	15,699		Honam Petrochemical Corp		5,198
	10,520		HSIL Ltd		63
	625,000		Huabao International Holdings Ltd		388
	184,820		Huaxin Cement Co Ltd		236
	128,300		Hubei Sanonda Co Ltd		129
	13,904		Huchems Fine Chemical Corp		291
	619,956		HudBay Minerals, Inc		4,596
	56,951		Huhtamaki Oyj		2,300
	1,070,839		Huntsman Corp		29,362
	21,937		Hyosung Corp		2,796
	88,745		Hyundai Steel Co		4,106
	1,193,676	*	IAMGOLD Corp		7,299
	1,744,373	g	Ibstock plc		5,328
	384,558		Iluka Resources Ltd		2,879
	45,322		IMCD Group NV		2,779
	6,091		Imerys S.A.		550

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	784,560	*	Impala Platinum Holdings Ltd	$	1,799
	25,775	*,e	Imperial Metals Corp		66
	2,307,629		Incitec Pivot Ltd		6,538
	302,618		Independence Group NL		826
	361,388		India Cements Ltd		956
	1,350,578		Indorama Ventures PCL (Foreign)		1,714
	103,800	*,e	Industrias CH SAB de C.V.		446
	218,251		Industrias Penoles S.A. de C.V.		5,421
	199,548	*	Ingevity Corp		12,466
	209,920		Inner Mongolia Eerduosi Resourses Co Ltd		231
	96,116		Innophos Holdings, Inc		4,728
	71,980		Innospec, Inc		4,438
	157,839	*	Interfor Corp		2,502
	44,224		International Flavors & Fragrances, Inc		6,320
	1,410,420		International Paper Co		80,140
	121,083		Intertape Polymer Group, Inc		1,766
	180,731	*,e	Intrepid Potash, Inc		788
	25,300	*	Ishihara Sangyo Kaisha Ltd		359
	151,206		Israel Chemicals Ltd		673
	2,119	*	Israel Corp Ltd		424
	397,820	*,e	Ivanhoe Mines Ltd		1,266
	31,459	*,†,e,m	Jacana Minerals Ltd		5
	293,560		James Hardie Industries NV		4,097
	70,331	*	Jastrzebska Spolka Weglowa S.A.		1,859
	332,100		Jaya Tiasa Holdings BHD		85
	423,752		JFE Holdings, Inc		8,289
	1,511,445		Jiangxi Copper Co Ltd		2,401
	208,131	*	Jindal Steel & Power Ltd		430
	158,588	*	Jinshan Gold Mines, Inc		249
	13,566		JK Cement Ltd		198
	24,915		JK Lakshmi Cement Ltd		148
	34,119		Johnson Matthey plc		1,565
	35,900		JSP Corp		1,101
	880,065		JSR Corp		16,733
	970,829		JSW Steel Ltd		3,700
	323,378	e	K&S AG.		8,815
	77,782		Kaiser Aluminum Corp		8,022
	185,638		Kaneka Corp		1,442
	171,222		Kansai Nerolac Paints Ltd		1,270
	288,817		Kansai Paint Co Ltd		7,276
	26,800	e	Kanto Denka Kogyo Co Ltd		287
	166,947		Kapstone Paper and Packaging Corp		3,588
	522,611		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		333
	184,096	*	KAZ Minerals plc		1,911
	62,401		Kemira Oyj		820
	344,146		KGHM Polska Miedz S.A.		11,086
	15,600	*	KH Neochem Co Ltd		383
	1,714,289	*	Kinross Gold Corp		7,268
	240,799		Kirkland Lake Gold Ltd		3,103
	17,807		KISCO Corp		592
	3,868		KISWIRE Ltd		118
	556,851		Klabin S.A.		3,226
	1,349,700		Klabin S.A. (Preference)		1,423
	337,924	*	Klondex Mines Ltd		1,230
	108,880	*	Klondex Mines Ltd		397

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	54,462		KMG Chemicals, Inc	$	2,989
	19,600		Koatsu Gas Kogyo Co Ltd		145
	339,979	e	Kobe Steel Ltd		3,894
	10,413		Kolon Industries, Inc		645
	56,200		Konishi Co Ltd		995
	149,977	*	Koppers Holdings, Inc		6,921
	16,401		Korea Kumho Petrochemical		1,036
	19,070		Korea Petrochemical Ind Co Ltd		4,142
	9,433		Korea Zinc Co Ltd		4,087
	22,056	*	Koza Altin Isletmeleri AS		193
	57,934	*	Kraton Polymers LLC		2,343
	63,308		Kronos Worldwide, Inc		1,445
	4,010		Kukdo Chemical Co Ltd		193
	55,448	e	Kumiai Chemical Industry Co Ltd		399
	343,249		Kuraray Co Ltd		6,422
	37,800		Kureha CORP		2,059
	11,700	e	Kyoei Steel Ltd		183
	200,131	e	Labrador Iron Ore Royalty Corp		3,176
	218,100		Lafarge Malayan Cement BHD		349
	551		LafargeHolcim Ltd		32
	493,931		Lanxess AG.		39,006
	4,397,000		Lee & Man Paper Manufacturing Ltd		5,658
	1,551,448		LEE Chang Yung Chem IND Corp		2,070
	32,654		Lenzing AG.		4,735
	59,174		LG Chem Ltd		20,329
	24,335		LG Chem Ltd (Preference)		5,398
	156,979		Linde AG.		32,643
	1,081,911	*,e	Linde AG.		225,629
	27,800		Lintec Corp		755
	11,066		Lock & Lock Co Ltd		173
	326,220		Long Chen Paper Co Ltd		483
	181,304	*,e	Lonmin plc		171
	1,826,834	*	Louisiana-Pacific Corp		49,471
	44,952	*,e	LSB Industries, Inc		357
	501,115		Lucara Diamond Corp		972
	19,900		Lucky Cement Ltd		107
	476,000		Luks Group Vietnam Holdings Ltd		164
	39,796	*,e	Lundin Gold, Inc		162
	1,803,817		Lundin Mining Corp		12,375
	458,279		LyondellBasell Industries AF S.C.A		45,393
	71,833		Madras Cements Ltd		762
	45,126	*	MAG. Silver Corp		505
	101,460		Magnesita Refratarios S.A.		1,301
	84,035	*,e	Major Drilling Group International		471
	172,088		Marshalls plc		1,005
	28,470		Martin Marietta Materials, Inc		5,871
	88,772		Maruichi Steel Tube Ltd		2,584
	36,683		Materion Corp		1,583
	416,900	*	Metalurgica Gerdau S.A.		696
	205,077		Methanex Corp		10,305
	4,202,643		Mexichem SAB de C.V.		11,096
	1,296,300	*,e	Midas Holdings Ltd		189
	764,500	*,e	Minera Frisco SAB de C.V.		488
	463,719		Mineral Resources Ltd		5,936
	147,480		Minerals Technologies, Inc		10,419
	20,561		Miquel y Costas & Miquel S.A.		747

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,396,565		Mitsubishi Chemical Holdings Corp	$	22,849
	298,578		Mitsubishi Gas Chemical Co, Inc		7,006
	102,568		Mitsubishi Materials Corp		3,553
	16,800	*	Mitsubishi Paper Mills Ltd		113
	34,200		Mitsubishi Steel Manufacturing Co Ltd		874
	303,077		Mitsui Chemicals, Inc		9,219
	112,400		Mitsui Mining & Smelting Co Ltd		5,832
	175,199	*	Mittal Steel South Africa Ltd		60
	581,283		MMC Norilsk Nickel PJSC (ADR)		10,017
	1,268,000	*	MMG Ltd		569
	21,105		MOIL Ltd		62
	21,105	*,m	MOIL Ltd		62
	181,686		Mondi Ltd		4,851
	781,305		Mondi plc		21,006
	12,981	*,†,m	Mongolian Metals Corporation		0
	1,149,822	n	Monsanto Co		137,772
	3,098		Monsanto India Ltd		116
	236,648		Mosaic Co		5,109
	282,909		Mpact Ltd		537
	118,263		M-real Oyj (B Shares)		811
	99,486		Myers Industries, Inc		2,084
	64,387	*	Mytilineos Holdings S.A.		635
	66,300		Nakayama Steel Works Ltd		429
	16,382		Namhae Chemical Corp		127
	377,813	*	Nampak Ltd		491
	11,391,071		Nan Ya Plastics Corp		28,108
	831,497		Nantex Industry Co Ltd		607
	247,593		National Aluminium Co Ltd		297
	45,873		Neenah Paper, Inc		3,924
	60,600		Neturen Co Ltd		610
	180,823	e	Nevsun Resources Ltd		391
	385,649	*	New Gold, Inc		1,431
	960,546		Newcrest Mining Ltd		15,810
	17,773		NewMarket Corp		7,567
	1,286,187		Newmont Mining Corp		48,245
	687,850		Nickel Asia Corp		89
	26,900		Nihon Nohyaku Co Ltd		151
	57,400		Nihon Parkerizing Co Ltd		920
	1,761,902		Nine Dragons Paper Holdings Ltd		3,487
	63,800		Nippon Denko Co Ltd		255
	139,000		Nippon Kayaku Co Ltd		2,141
	2,083,700	e	Nippon Light Metal Holdings Co Ltd		5,935
	251,832		Nippon Paint Co Ltd		8,567
	197,300	e	Nippon Paper Industries Co Ltd		3,671
	16,400		Nippon Shokubai Co Ltd		1,159
	307,000		Nippon Soda Co Ltd		1,867
	925,445		Nippon Steel Corp		21,279
	80,400		Nissan Chemical Industries Ltd		2,829
	32,200		Nisshin Steel Holdings Co Ltd		412
	3,200		Nittetsu Mining Co Ltd		234
	159,363		Nitto Denko Corp		13,293
	42,961		NOF Corp		1,216
	156,766		Norbord, Inc		5,969
	1,418,922		Norsk Hydro ASA		10,354
	8,210,000	*	North Mining Shares Co Ltd		170
	229,985	*	Northam Platinum Ltd		794

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	436,109		Northern Star Resources Ltd	$	1,687
	193,587	*,e	Novagold Resources, Inc		791
	15,442		Novolipetsk Steel (GDR)		352
	192,793		Novozymes AS		9,903
	887,292		Nucor Corp		49,724
	285,268		Nufarm Ltd		1,859
	49,103	*,e	Nyrstar NV		391
	437,800		OceanaGold Corp		1,323
	18,731	e	OCI Co LTD		1,680
	47,620	*	OCI NV		1,116
	12,392		Oeneo S.A.		141
	1,155,148		OJI Paper Co Ltd		6,237
	33,000		Okamoto Industries, Inc		344
	7,005,680		Olin Corp		239,945
	18,403		Olympic Steel, Inc		405
	39,834		Omnia Holdings Ltd		408
	97,370	*	Omnova Solutions, Inc		1,066
	352,250		Orica Ltd		5,483
	40,385		Orient Cement Ltd		95
	358,000		Oriental Union Chemical Corp		288
	423,393	*,e	Orocobre Ltd		1,491
	1,117,854		Orora Ltd		2,727
	7,100		Osaka Steel Co Ltd		161
	84,784		Osisko Gold Royalties Ltd		1,094
	95,697	*	Osisko Mining, Inc		337
	246,027		Outokumpu Oyj		2,560
	423,057	*	Owens-Illinois, Inc		10,644
	606,278		Oxiana Ltd		3,547
	8,451	e	Pacific Metals Co Ltd		215
	7,800		Pack Corp		277
	360,377		Packaging Corp of America		41,328
	111,801		Pact Group Holdings Ltd		460
	1,705,915		Pan African Resources plc		297
	274,416		Pan American Silver Corp		4,673
	214,183		Papeles y Cartones de Europa S.A.		2,012
	340,500	*	Pelat Timah Nusantara Tbk PT		90
	700,094		Petkim Petrokimya Holding		1,175
	346,103	*	Petra Diamonds Ltd		390
	2,706,816		Petronas Chemicals Group BHD		4,673
	80,709		PH Glatfelter Co		1,570
	97,623		PhosAgro OAO (ADR)		1,392
	63,708		PI Industries Ltd		723
	800,819	*,e	Pilbara Minerals Ltd		400
	26,988		Plastivaloire		683
	1,061,604	*	Platform Specialty Products Corp		11,837
	156,319		PolyOne Corp		6,257
	13,891		Polyus PJSC (ADR)		538
	20,000	*	Polyus PJSC (GDR)		775
	4,953		Poongsan		242
	91,333		Poongsan Corp		4,105
	1,054,279		Portucel Empresa Produtora de Pasta e Papel S.A.		5,144
	123,257		POSCO		34,251
	148,177		POSCO Refractories & Environment Co Ltd		3,842
	733,442		Potash Corp of Saskatchewan		14,119
	964,307	*	PPC Ltd		450
	420,284		PPG Industries, Inc		45,668

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	534,811		Praxair, Inc	$	74,734
	655,820	*	Premier Gold Mines Ltd		1,876
	95,217	*,e	Pretium Resources, Inc		881
	96,797	*	Prism Cement Ltd		153
	5,471,504	*	PT Aneka Tambang Tbk		260
	1,371,000		PT Holcim Indonesia Tbk		84
	1,661,243		PT Indocement Tunggal Prakarsa Tbk		2,331
	2,724,098	*	PT Krakatau Steel Tbk		104
	8,218,300	*,†,m	PT Sekawan Intipratama Tbk		0	^
	1,618,100		PT Semen Baturaja Persero Tbk		409
	3,060,838		PT Semen Gresik Persero Tbk		2,303
	1,852,757		PT Timah Tbk		112
	2,046,000		PT Wijaya Karya Beton Tbk		81
	6,597,077		PTT Global Chemical PCL (Foreign)		15,248
	1,186		Qatar National Cement Co		21
	32,834		Quaker Chemical Corp		4,858
	264,380	†,e,m	Quintis Ltd		46
	34,665		Rallis India Ltd		111
	177,939	*,e	Ramaco Resources, Inc		1,180
	88,260		Randgold Resources Ltd		8,626
	83,211	e	Rayonier Advanced Materials, Inc		1,140
	1,318,694		Regis Resources Ltd		3,720
	192,139		Reliance Steel & Aluminum Co		14,635
	211,367		Rengo Co Ltd		1,258
	481,621		Resolute Mining Ltd		388
	54,400		RHI AG.		2,273
	39,437	*	Richmont Mines, Inc		368
	529,407	e	Rio Tinto Ltd		27,749
	2,121,387		Rio Tinto plc		98,749
	18,224	*	Royal Bafokeng Platinum Ltd		43
	155,311		Royal Gold, Inc		13,363
	761,472		RPC Group plc		10,112
	106,750		RPM International, Inc		5,481
	32,135	*	Ryerson Holding Corp		349
	10,853		Sa des Ciments Vicat		828
	8,800		Sakai Chemical Industry Co Ltd		225
	103,800		Sakata INX Corp		1,917
	83,691	e	Salzgitter AG.		3,802
	2,393		Sam Kwang Glass Ind Co Ltd		98
	11,822		Samsung Fine Chemicals Co Ltd		427
	379,651		San Fang Chemical Industry Co Ltd		444
	456,459		Sandfire Resources NL		2,073
	114,120	*,e	Sandstorm Gold Ltd		516
	41,208		Sanyo Chemical Industries Ltd		2,401
	144,800		Sanyo Special Steel Co Ltd		3,715
	522,897		Sappi Ltd		3,561
	454,202	*	Saracen Mineral Holdings Ltd		468
	263,877		Satipel Industrial S.A.		789
	85,720		Scapa Group plc		508
	277,910	*	Schmolz + Bickenbach AG.		255
	117,316		Schnitzer Steel Industries, Inc (Class A)		3,302
	220,310		Schweitzer-Mauduit International, Inc		9,134
	433,100		Scientex BHD		903
	99,862		Scotts Miracle-Gro Co (Class A)		9,721
	26,044	*,e	Seabridge Gold, Inc		318
	57,241		Seah Besteel Corp		1,576

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,955		SeAH Steel Corp	$	1,644
	292,723		Sealed Air Corp		12,505
	877,400		Sekisui Plastics Co Ltd		11,034
	901,079	*	SEMAFO, Inc		2,383
	75,180		Semapa-Sociedade de Investimento e Gestao		1,440
	148,010		Sensient Technologies Corp		11,385
	2,830,808		Sesa Sterlite Ltd		13,662
	244,263		Severstal (GDR)		3,656
	15,297	g	SH Kelkar & Co Ltd		59
	1,431,500	e	Shandong Chenming Paper Holdings Ltd		2,727
	227,500		Shandong Chenming Paper Holdings Ltd (Class B)		417
	280,600	*	Shanghai Chlor-Alkali Chemical Co Ltd		220
	175,243		Shanghai Yaohua Pilkington Glass Co Ltd		125
	8,283		Sharda Cropchem Ltd		56
	200,279		Sherwin-Williams Co		71,708
	21,000		Shikoku Chemicals Corp		318
	9,620	*,e	Shine Co Ltd		238
	534,271		Shin-Etsu Chemical Co Ltd		47,817
	124,400		Shin-Etsu Polymer Co Ltd		1,130
	829,032		Shinkong Synthetic Fibers Corp		249
	3,534,000	*	Shougang Concord International Enterprises Co Ltd		105
	98,800		Showa Denko KK		3,083
	12,965		Shree Cement Ltd		3,691
	435,125		Siam Cement PCL (Foreign)		6,558
	1,135,674		Sibanye Gold Ltd		1,276
	519,117		Sidi Kerir Petrochemcials Co		599
	1,772		Sika AG.		13,194
	246,069		Silgan Holdings, Inc		7,242
	528,311		Silvercorp Metals, Inc		1,431
	332,513	e	Sims Group Ltd		3,532
	1,462,000	e	Sinofert Holdings Ltd		267
	16,650,674		Sinopec Shanghai Petrochemical Co Ltd		9,948
	2,469,604	*	Sirius Minerals plc		843
	10,109		SK Chemicals Co Ltd		578
	34,433		SKC Co Ltd		1,243
	9,108		SKCKOLONPI, Inc		271
	337,143		Smurfit Kappa Group plc		10,559
	91,865		Sociedad Quimica y Minera de Chile S.A. (Class B)		5,097
	1,414,272		Soda Sanayii AS		2,021
	3,707		SODIFF Advanced Materials Co Ltd		573
	458,019	*,e	SolGold plc		206
	39,830		Solvay S.A.		5,955
	9,855		Songwon Industrial Co Ltd		158
	132,027		Sonoco Products Co		6,661
	5,500,588		South32 Ltd		14,230
	13,152		South32 Ltd (W/I)		34
	396,538	e	Southern Copper Corp (NY)		15,766
	127,854	*	Ssab Svenskt Stal AB (Series A)		617
	398,279	*	Ssab Svenskt Stal AB (Series B)		1,585
	17,062		Ssangyong Cement Industrial Co Ltd		177
	327,699	*	SSR Mining, Inc		3,472
	313,634		St Barbara Ltd		646
	1,023,585		Steel Dynamics, Inc		35,283
	5,600	e	Stella Chemifa Corp		239
	27,939		Stella-Jones, Inc		1,075

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	98,719		Stepan Co	$	8,259
	5,094		STO AG.		763
	764,523		Stora Enso Oyj (R Shares)		10,814
	322,506	*	Stornoway Diamond Corp		194
	4,404,720		STP & I PCL		886
	634,221		Sumitomo Bakelite Co Ltd		4,676
	1,559,511		Sumitomo Chemical Co Ltd		9,756
	300,219		Sumitomo Metal Mining Co Ltd		9,665
	787,193		Sumitomo Osaka Cement Co Ltd		3,482
	7,800		Sumitomo Seika Chemicals Co Ltd		373
	10,112	e	Sumitomo Titanium Corp		147
	247,042	*	Summit Materials, Inc		7,913
	123,706	*	SunCoke Energy, Inc		1,131
	2,444,500	*,†,e,m	Superb Summit International Group Ltd		31
	75,591		Supreme Industries Ltd		1,273
	801,388		Suzano Papel e Celulose S.A.		4,633
	588,213		Svenska Cellulosa AB (B Shares)		4,986
	17,336		Symrise AG.		1,318
	1,597,610		Synthos S.A.		2,253
	154,290	*,e	Syrah Resources Ltd		418
	281,696		TA Chen Stainless Pipe		163
	513		Taekwang Industrial Co Ltd		502
	806,237		Tahoe Resources, Inc		4,249
	720,414		Tahoe Resources, Inc (Toronto)		3,788
	134,834		Taiheiyo Cement Corp		5,209
	3,179,728		Taiwan Cement Corp		3,550
	825,960		Taiwan Fertilizer Co Ltd		1,070
	111,725		Taiwan Hon Chuan Enterprise Co Ltd		203
	3,243,329		Taiwan Styrene Monomer		2,085
	10,600		Taiyo Ink Manufacturing Co Ltd		494
	16,315		Taiyo Nippon Sanso Corp		193
	26,800		Takasago International Corp		923
	39,000		Takiron Co Ltd		250
	890,692		Tata Steel Ltd		8,917
	892,000	m	TCC International Holdings Ltd		416
	6,035		Technosemichem Co Ltd		359
	856,622		Teck Cominco Ltd		18,035
	1,982,001		Teijin Ltd		39,103
	10,200		Tenma Corp		206
	22,095	*	Tessenderlo Chemie NV		1,075
	3,732,584		ThyssenKrupp AG.		110,857
	302,683	*,e	TimkenSteel Corp		4,994
	94,153		Titan Cement Co S.A.		2,384
	20,306	*,e	TMAC Resources, Inc		165
	249,500		Toagosei Co Ltd		3,345
	16,800	e	Toho Titanium Co Ltd		121
	99,744		Toho Zinc Co Ltd		4,305
	116,500		Tokai Carbon Co Ltd		1,097
	6,900		Tokushu Tokai Holdings Co Ltd		270
	39,000	*	Tokuyama Corp		925
	21,800		Tokyo Ohka Kogyo Co Ltd		775
	8,379		Tokyo Rope Manufacturing Co Ltd		127
	60,400		Tokyo Steel Manufacturing Co Ltd		499
	352,750		Ton Yi Industrial Corp		162
	80,511	b	Tong Yang Major Corp		129
	1,092,000	*	Tongfang Kontafarma Holdings Ltd		84

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,411	*	Tongyang Cement & Energy Corp	$	76
	54,700		Topy Industries Ltd		1,830
	243,390		Toray Industries, Inc		2,362
	247,128	*	Torex Gold Resources, Inc		3,872
	643,500		Tosoh Corp		14,525
	420,000		Toyo Ink Manufacturing Co Ltd		2,365
	23,900		Toyo Kohan Co Ltd		112
	111,741		Toyo Seikan Kaisha Ltd		1,867
	688,668		Toyobo Co Ltd		13,119
	34,132	*	Trecora Resources		454
	71,457		Tredegar Corp		1,286
	84,920		Trinseo S.A.		5,698
	3,468,064	a	Tronox Ltd		73,176
	418,000		TSRC Corp		442
	64,815	e	Tubacex S.A.		246
	1,086,000		Tung Ho Steel Enterprise Corp		866
	940,856	*	Turquoise Hill Resources Ltd		2,911
	349,265		UBE Industries Ltd		10,108
	14,369	*	UFP Technologies, Inc		404
	110,164		Ultra Tech Cement Ltd		6,505
	14,017		Umicore		1,160
	14,284		Unid Co Ltd		624
	536,114		United Phosphorus Ltd		6,401
	3,789		United States Lime & Minerals, Inc		318
	419,620	e	United States Steel Corp		10,767
	373,676		Universal Cement Corp		284
	1,827,095		UPC Technology Corp		972
	1,352,395		UPM-Kymmene Oyj		36,692
	29,048	*,e	US Concrete, Inc		2,216
	1,816,487		USI Corp		894
	279,800	*	Usinas Siderurgicas de Minas Gerais S.A. (Preference)		687
	3,639,458		Vale S.A.		36,623
	843,100		Vale S.A. (Preference)		7,864
	139,922		Valhi, Inc		340
	3,432,635		Valvoline, Inc		80,495
	50,442		Vedanta Resources plc		590
	67,642	*,e	Verso Corp		344
	160,187		Victrex plc		5,094
	9,825		Vinati Organics Ltd		145
	210,172		Voestalpine AG.		10,717
	1,716,930		Volcan Cia Minera S.A.		615
	62,163		Vulcan Materials Co		7,435
	165,511	e	Wacker Chemie AG.		23,765
	93,744		Warrior Met Coal, Inc		2,210
	7,353,600		Waskita Beton Precast Tbk PT		197
	1,668,000	*	West China Cement Ltd		272
	235,644		West Fraser Timber Co Ltd		13,598
	167,195	e	Western Areas NL		343
	781,415		Western Forest Products, Inc		1,672
	138,010	*	Westgold Resources Ltd		212
	190,574		Westlake Chemical Corp		15,835
	698,640		WestRock Co		39,634
	700,758		Wheaton Precious Metals Corp		13,367
	4,733,622		Wienerberger AG.		115,712
	57,043		Winpak Ltd		2,347

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,346	*	Wonik Materials Co Ltd	$	153
	165,612	*	Worthington Industries, Inc		7,618
	2,688,160		WR Grace & Co		193,951
	49,600	e	W-Scope Corp		1,006
	526,000	*	Xinjiang Xinxin Mining Industry Co Ltd		72
	674,118		Yamana Gold, Inc		1,783
	24,900		Yamato Kogyo Co Ltd		675
	331,559		Yara International ASA		14,867
	59,573		Yeong Guan Energy Technology Group Co Ltd		146
	1,486,100		Yeun Chyang Industrial Co Ltd		1,217
	741,551		Yieh Phui Enterprise		276
	542,000		Yip’s Chemical Holdings Ltd		203
	83,900		Yodogawa Steel Works Ltd		2,299
	491	*	Yonwoo Co Ltd		11
	10,895		Youlchon Chemical Co Ltd		133
	668,285		Yuen Foong Yu Paper Manufacturing Co Ltd		269
	709,652		Yule Catto & Co plc		4,646
	84,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		222
	39,326		Zaklady Azotowe w Tarnowie-Moscicach S.A.		860
	510,602		Zeon Corp		6,624
	647,000	e	Zhaojin Mining Industry Co Ltd		548
	17,240		Zignago Vetro S.p.A.		165
	9,186,731		Zijin Mining Group Co Ltd		3,160
			TOTAL MATERIALS		6,366,180
MEDIA - 2.4%
	39,500		ABB ASEA Brown Boveri Ltd		670
	1,200,000		ABS-CBN Holdings Corp (ADR)		957
	688,016		Aimia, Inc		1,362
	14,037,467	*,e	Alibaba Pictures Group Ltd		2,248
	360,476	*	Altice NV (Class A)		7,222
	66,819	*	Altice NV (Class B)		1,334
	107,018	e	AMC Entertainment Holdings, Inc		1,573
	389,138	*	AMC Networks, Inc		22,753
	6,800		Amuse, Inc		169
	303,957		Antena 3 de Television S.A.		3,198
	2,588		APG SGA S.A.		1,079
	104,680		APN Outdoor Group Ltd		388
	85,300		Asatsu-DK, Inc		2,411
	247,018		Ascential plc		1,138
	7,837,000		Asian Pay Television Trust		3,301
	3,447,270		Astro Malaysia Holdings BHD		2,302
	20,659		Avex Group Holdings, Inc		281
	44,209		Axel Springer AG.		2,843
	9,165		Beasley Broadcasting Group, Inc		107
	533,000		BEC World PCL (Foreign)		260
	84,649	*	Besiktas Futbol Yatirimlari Sanayi ve Ticaret AS		106
	293,588		Borussia Dortmund GmbH & Co KGaA		2,849
	4,270		Cable One, Inc		3,083
	43,085		Cairo Communication S.p.A.		218
	2,303,635		CBS Corp (Class B)		133,611
	50,349	*	Central European Media Enterprises Ltd (Class A)		207
	160,199	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		649
	394,993	*	Charter Communications, Inc		143,548
	69,714		Cheil Communications, Inc		1,110

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	161,865	*,†,m	Chennai Super Kings Cricket Ltd	$	6
	301,138		Cinemark Holdings, Inc		10,904
	39,285	e	Cineplex Galaxy Income Fund		1,229
	487,403		Cineworld Group plc		4,427
	8,704		CJ CGV Co Ltd		491
	110,353		CJ E&M Corp		7,443
	16,923		CJ Hellovision Co Ltd		106
	63,883		Clear Channel Outdoor Holdings, Inc (Class A)		297
	61,674		Cogeco Communications, Inc		4,548
	29,217		Cogeco, Inc		1,917
	17,138,165		Comcast Corp (Class A)		659,477
	122,316	*	Corus Entertainment, Inc		1,272
	29,743		CTS Eventim AG.		1,299
	62,400		CyberAgent, Inc		1,822
	470,642		Cyfrowy Polsat S.A.		3,347
	75,400		Daiichikosho Co Ltd		3,610
	2,460	*,e	Daily Journal Corp		538
	477,644		Daily Mail & General Trust		4,151
	125,355		Dentsu, Inc		5,507
	123,365		DHX Media Ltd		517
	6,580,000	*,e	Digital Domain Holdings Ltd		196
	365,615	*,e	Discovery Communications, Inc (Class A)		7,784
	180,559	*	Discovery Communications, Inc (Class C)		3,658
	794,538	*	DISH Network Corp (Class A)		43,088
	29,287	e	Emerald Expositions Events, Inc		681
	54,701	e	Entercom Communications Corp (Class A)		626
	208,837		Entertainment One Ltd		722
	401,354		Entravision Communications Corp (Class A)		2,288
	50,137	*,e	Eros International plc		717
	4,000,000	*	eSun Holdings Ltd		701
	180,116		Eutelsat Communications		5,332
	109,365	*	EW Scripps Co (Class A)		2,090
	198	*	Fenerbahce Sportif Hizmetleri Sanayi ve Ticaret AS		2
	354,000		Fuji Television Network, Inc		5,043
	218,941		Gannett Co, Inc		1,970
	576,168		Gestevision Telecinco S.A.		6,511
	101,029	*,e	Global Eagle Entertainment, Inc		345
	239,125	*	Gray Television, Inc		3,754
	2,284,127		Grupo Televisa S.A.		11,258
	107,315	*	Gruppo Editoriale L’Espresso S.p.A.		95
	30,811		Hakuhodo DY Holdings, Inc		406
	129,787	e	Havas S.A.		1,419
	51,792	*	Hemisphere Media Group, Inc		619
	162,409		HT&E Ltd		263
	690,000	*,e	Huanxi Media Group Ltd		180
	3,200,000	*,e	Huayi Tencent Entertainment Co Ltd		141
	31,849		Hyundai Hy Communications & Network Co		100
	284,979	*	IBN18 Broadcast Ltd		170
	1,515,179	*,e	I-Cable Communications Ltd		50
	75,300	*,e,g	IMAX China Holding, Inc		227
	607,783	*,e	Imax Corp		13,766
	656,216		Informa plc		5,914
	5,266		Innocean Worldwide, Inc		308
	33,149	*	Inox Leisure Ltd		119
	3,738,224		Interpublic Group of Cos, Inc		77,718

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,969		IPSOS	$	2,179
	253,960		ITE Group plc		612
	3,725,889		ITV plc		8,729
	119,708		Jagran Prakashan Ltd		328
	233,507		JC Decaux S.A.		8,754
	24,441	*	Jcontentree Corp		80
	4,658,092		John Fairfax Holdings Ltd		3,464
	68,055		John Wiley & Sons, Inc (Class A)		3,641
	262,771	*,e	Juventus Football Club S.p.A.		246
	70		Kabel Deutschland Holding AG.		9
	33,132		Kadokawa Dwango Corp		403
	15,204	e	Kinepolis Group NV		1,010
	48,507		KT Skylife Co Ltd		611
	21,743		Lagardere S.C.A.		728
	19,202	*	Liberty Braves Group (Class A)		487
	66,512	*	Liberty Braves Group (Class C)		1,681
	63,002	*	Liberty Broadband Corp (Class A)		5,933
	220,564	*	Liberty Broadband Corp (Class C)		21,020
	10,763	*	Liberty Global plc		352
	201,068	*	Liberty Global plc (Class A)		6,818
	135	*,e	Liberty Global plc LiLAC (Class A)		3
	380	*	Liberty Global plc LiLAC (Class C)		9
	45,538	*,e	Liberty Media Group (Class A)		1,662
	353,581	*,e	Liberty Media Group (Class C)		13,468
	215,584	*	Liberty SiriusXM Group (Class A)		9,033
	380,068	*	Liberty SiriusXM Group (Class C)		15,913
	99,299	*,e	Lions Gate Entertainment Corp (Class A)		3,322
	273,828	*	Lions Gate Entertainment Corp (Class B)		8,705
	515,865	*	Live Nation, Inc		22,466
	3,721		Loen Entertainment, Inc		284
	23,334	*,e	Loral Space & Communications, Inc		1,155
	129,287		M6-Metropole Television		2,990
	950,700	*,e	Macromill, Inc		21,640
	55,913	*	Madison Square Garden Co		11,971
	383,300		Major Cineplex Group PCL-Foreign		351
	624,474		MDC Partners, Inc		6,869
	1,275,200		Media Prima BHD		243
	291,143	e	Mediaset S.p.A.		1,009
	1,780,000	*	Mei Ah Entertainment Group Ltd		85
	193,640	e	Meredith Corp		10,747
	78,318		Modern Times Group AB (B Shares)		2,840
	113,001	*	MSG Networks, Inc		2,396
	244,600		Multiplus S.A.		3,020
	9,000,000	e	Nan Hai Corp Ltd		284
	2,498		Nasmedia Co Ltd		122
	767,154		Naspers Ltd (N Shares)		165,838
	321,332		National CineMedia, Inc		2,243
	46,713		Navneet Publications India		119
	98,663		New Media Investment Group, Inc		1,459
	365,981		New York Times Co (Class A)		7,173
	288,032		News Corp		3,819
	136,057		News Corp (Class B)		1,857
	105,955	e	Nexstar Broadcasting Group, Inc (Class A)		6,601
	32,400	e	Next Co Ltd		282
	2,797,719		Nine Entertainment Co Holdings Ltd		3,029
	239,604		Omnicom Group, Inc		17,747

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	85,951		oOh!media Ltd	$	298
	542,364		Pearson plc		4,448
	446,000		Phoenix Satellite Television Holdings Ltd		65
	443,900		Plan B Media PCL		81
	171,300		Poly Culture Group Corp Ltd		410
	26,963	*,e	Promotora de Informaciones S.A.		106
	221,115		ProSiebenSat. Media AG.		7,545
	23,600		Proto Corp		425
	14,785,000	*	PT Bhakti Investama Tbk		110
	4,386,400		PT Global MediaCom Tbk		184
	5,480,438		PT Media Nusantara Citra Tbk		537
	369,676		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		2,289
	5,880,536		PT Surya Citra Media Tbk		956
	5,297,100	*	PT Visi Media Asia Tbk		101
	45,702		Publicis Groupe S.A.		3,197
	33,668		PVR Ltd		622
	170,039		Quebecor, Inc		6,390
	55,458	g	RAI Way S.p.A		300
	369	*	RCS MediaGroup S.p.A.		1
	57,900		REA Group Ltd		3,050
	38,846	*	Reading International, Inc		611
	2,094,741		Reed Elsevier NV		44,562
	1,963,832		Reed Elsevier plc		43,099
	174,774	e	Regal Entertainment Group (Class A)		2,796
	407,000		RS PCL		223
	14,446		RTL Group		1,094
	7,934		Saga Communications, Inc		362
	21,857		Salem Communications		144
	140,651		Sanoma-WSOY Oyj		1,533
	36,431		SBS Media Holdings Co Ltd		91
	8,177		Schibsted ASA		211
	72,765		Schibsted ASA (B Shares)		1,721
	53,897		Scholastic Corp		2,005
	666,528		Scripps Networks Interactive (Class A)		57,248
	244,000	e	Septeni Holdings Co Ltd		671
	298,781		SES Global S.A.		6,541
	316,314		Shaw Communications, Inc (B Shares)		7,281
	5,600	e	Shochiku Co Ltd		799
	20,051		SHOWBOX Corp		88
	233,410	e	Sinclair Broadcast Group, Inc (Class A)		7,481
	1,114,201	e	Singapore Press Holdings Ltd		2,239
	3,050,321	e	Sirius XM Holdings, Inc		16,838
	2,690	*	SITI Networks Ltd		1
	1,138,604		Sky Network Television Ltd		2,223
	489,400	e	Sky Perfect Jsat Corp		2,193
	912,318		Sky plc		11,192
	11,288	*	SM Entertainment Co		286
	717,600	e	SMI Holdings Group Ltd		378
	51,900		Smiles S.A.		1,319
	217,782		Societe Television Francaise 1		3,182
	333,457	*	Solocal Group		401
	2,196,619		Southern Cross Media Group		2,043
	20,311		Stroer Out-of-Home Media AG.		1,331
	900,000		T4F Entretenimento S.A.		2,467
	174,712		TEGNA, Inc		2,329

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,889	*	Telenet Group Holding NV	$	2,839
	204,043		Television Broadcasts Ltd		678
	3,375,910		Time Warner, Inc		345,862
	192,802		Time, Inc		2,603
	5,000		Toei Animation Co Ltd		517
	106,289		Toei Co Ltd		11,832
	130,423		Toho Co Ltd		4,554
	124,900		Tohokushinsha Film Corp		822
	171,200		Tokyo Broadcasting System, Inc		3,177
	17,715	*	Townsquare Media, Inc		177
	150,478		Tribune Co		6,149
	112,228	*	tronc, Inc		1,631
	14,000		TV Asahi Corp		280
	681,500	e	TV Azteca S.A. de C.V.		126
	1,658,954		Twenty-First Century Fox, Inc		43,763
	950,904		Twenty-First Century Fox, Inc (Class B)		24,524
	242,737		UBM plc		2,221
	17,000	e	Vector, Inc		243
	1,475,400		VGI Global Media PCL		255
	144,493		VHQ Media Holdings Ltd		664
	22,923	e	Viacom, Inc		841
	2,192,860		Viacom, Inc (Class B)		61,049
	47,077	e	Village Roadshow Ltd		139
	1,845,600	*	Viva China Holdings Ltd		175
	579,638		Vivendi Universal S.A.		14,684
	4,107,120	n	Walt Disney Co		404,839
	589,950		West Australian Newspapers Holdings Ltd		308
	35,526	*	WideOpenWest, Inc		536
	384,000	*,e	Wisdom Holdings Group		63
	15,457	*	Woongjin Thinkbig Co Ltd		94
	119,800		Workpoint Entertainment PCL		302
	74,592	e	World Wrestling Entertainment, Inc (Class A)		1,757
	21,000		Wowow, Inc		666
	216,120		WPP AUNZ Ltd		186
	1,914,568		WPP plc		35,527
	6,513		YG Entertainment, Inc		155
	3,104,433	*	Zee Entertainment Enterprises Ltd		3,559
	653,329		ZEE Telefilms Ltd		5,210
	14,100		Zenrin Co Ltd		429
			TOTAL MEDIA		2,911,519
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.6%
	1,122,500	*,e,g	3SBio, Inc		1,806
	13,386	*,e	AB Science S.A.		134
	6,203,801		AbbVie, Inc		551,270
	449,392		Abcam plc		6,142
	49,106	*,e	Abeona Therapeutics, Inc		837
	34,046	*	Ablynx NV		497
	618,610	*	Acadia Pharmaceuticals, Inc		23,303
	48,729	*,e	Accelerate Diagnostics, Inc		1,094
	61,002	*	Acceleron Pharma, Inc		2,277
	65,320	*,e	Achaogen, Inc		1,042
	234,960	*	Achillion Pharmaceuticals, Inc		1,055
	215,358	*	Aclaris Therapeutics, Inc		5,558
	175,227	*	Acorda Therapeutics, Inc		4,144
	49,916	*,e	Adamas Pharmaceuticals, Inc		1,057

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,358		Adcock Ingram Holdings Ltd	$	212
	80,700	*,e	Aduro Biotech, Inc		859
	73,949	*,e	Advaxis, Inc		309
	78,590	*,e	Aerie Pharmaceuticals, Inc		3,819
	147,787	*,e	Agenus, Inc		652
	1,434,299		Agilent Technologies, Inc		92,082
	77,711	*,e	Agios Pharmaceuticals, Inc		5,187
	852	*	Aileron Therapeutics, Inc		11
	68,273	*,e	Aimmune Therapeutics, Inc		1,693
	33,336		Ajanta Pharma Ltd		579
	55,294	*,e	Akcea Therapeutics, Inc		1,530
	249,418	*	Akebia Therapeutics, Inc		4,906
	83,764	*	Akorn, Inc		2,780
	131,415	*,e	Alder Biopharmaceuticals, Inc		1,610
	75,804		Alembic Pharmaceuticals Ltd		588
	1,814,201	*	Alexion Pharmaceuticals, Inc		254,514
	3,692		ALK-Abello AS		581
	156,740	*	Alkermes plc		7,969
	1,644,408		Allergan plc		337,021
	42,842	*	Alnylam Pharmaceuticals, Inc		5,034
	131,945	*,e	AMAG Pharmaceuticals, Inc		2,434
	1,850,505		Amgen, Inc		345,027
	4,691		Amicogen, Inc		130
	451,272	*,e	Amicus Therapeutics, Inc		6,805
	70,180	*	Amphastar Pharmaceuticals, Inc		1,254
	38,462	*,e	AnaptysBio, Inc		1,344
	73,883	*,e	Anavex Life Sciences Corp		306
	34,518	*,e	ANI Pharmaceuticals, Inc		1,812
	107,814	*,e	Aratana Therapeutics, Inc		661
	63,056	*	Ardelyx, Inc		353
	218,527	*,e	Arena Pharmaceuticals, Inc		5,572
	631,828	*,e	Array Biopharma, Inc		7,771
	111,341		Ascendis Health Ltd		166
	140,800		ASKA Pharmaceutical Co Ltd		2,323
	870,760		Aspen Pharmacare Holdings Ltd		19,535
	39,224	*	Assembly Biosciences, Inc		1,370
	1,398,852		Astellas Pharma, Inc		17,804
	58,914	*,e	Asterias Biotherapeutics, Inc		200
	2,291,638		AstraZeneca plc		152,397
	910,483	e	AstraZeneca plc (ADR)		30,847
	46,444	*,e	Atara Biotherapeutics, Inc		769
	5,757	*	ATGen Co Ltd		176
	11,800	*,e	Athenex, Inc		207
	194,557	*,e	Athersys, Inc		401
	47,405	*	Audentes Therapeutics, Inc		1,328
	584,992		Aurobindo Pharma Ltd		6,204
	47,927	*,e	Avexis, Inc		4,636
	98,533	*,e	Axovant Sciences Ltd		678
	3,314		Bachem Holding AG.		398
	8,384	*	Basilea Pharmaceutica		683
	53,959	*,e	Bavarian Nordic AS		2,421
	1,890,189		Bayer AG.		258,206
	484,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd		628
	48,569	*,e	Bellicum Pharmaceuticals, Inc		561
	17,626	*	Binex Co Ltd		119
	292,269		Biocon Ltd		1,487

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	299,406	*	BioCryst Pharmaceuticals, Inc	$	1,569
	41,475		Biogaia AB (B Shares)		1,543
	413,951	*	Biogen Idec, Inc		129,616
	122,823	*	Biohaven Pharmaceutical Holding Co Ltd		4,591
	991,470	*,n	BioMarin Pharmaceutical, Inc		92,276
	76,511	*	Bio-Rad Laboratories, Inc (Class A)		17,002
	23,969	*	Biospecifics Technologies Corp		1,115
	85,886		Bio-Techne Corp		10,383
	3,631		Biotest AG.		120
	5,149		Biotest AG.		166
	36,828		Biotest AG. (Preference)		986
	127,694	*,e	BioTime, Inc		363
	204,075	*	Bioverativ, Inc		11,647
	100,286	*	Biovitrum AB		1,545
	193,648	*	Bluebird Bio, Inc		26,598
	89,152	*	Blueprint Medicines Corp		6,211
	11,346		Boiron S.A.		1,012
	2,972		Boryung Pharmaceutical Co Ltd		104
	4,907,614		Bristol-Myers Squibb Co		312,811
	381,749		Bruker BioSciences Corp		11,357
	268,060	*	BTG plc		2,430
	15,553		Bukwang Pharmaceutical Co Ltd		303
	487,954		Cadila Healthcare Ltd		3,519
	167,295	*,e	Calithera Biosciences, Inc		2,635
	17,793	*,e	Calyxt, Inc		436
	114,894	*	Cambrex Corp		6,319
	9,311	*	Camurus AB		142
	93,267	*,e	Canopy Growth Corp		801
	127,271	*,e	Cara Therapeutics Inc		1,742
	1,972		Caregen Co Ltd		133
	69,811	*	Cascadian Therapeutics, Inc		286
	563,430	*	Catalent, Inc		22,492
	140,491	*,e	Catalyst Pharmaceuticals, Inc		354
	2,667,454	*	Celgene Corp		388,968
	3,793		Cell Biotech Co Ltd		131
	241,422	*,e	Celldex Therapeutics, Inc		690
	15,444	*	Cellectis S.A.		436
	9,796	*	Celltrion Pharm Inc		160
	136,854	*,e	Celltrion, Inc		17,003
	193,196	*,e	Cempra, Inc		628
	103,852	*	Center Laboratories, Inc		161
	175,190	*	Charles River Laboratories International, Inc		18,924
	91,704	*	ChemoCentryx, Inc		680
	85,868	*	Chimerix, Inc		451
	10,235,300	*,†,e,m	China Animal Healthcare Ltd		13
	1,338,900		China Medical System Holdings Ltd		2,345
	6,650,000	*,e	China Regenerative Medicine International Ltd		173
	643,000		China Shineway Pharmaceutical Group Ltd		574
	33,733		Chong Kun Dang Pharm Corp		2,063
	26,587		Chong Kun Dang Pharmaceutical Corp		2,525
	7,306		Choongwae Pharma Corp		259
	480,400		Chugai Pharmaceutical Co Ltd		19,964
	291,620		Cipla Ltd		2,617
	1,660,000	e	CK Life Sciences International Holdings, Inc		130
	36,741	*,e	Clearside Biomedical, Inc		321

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	60,342		Clinigen Group plc	$	862
	294,268	*,e	Clovis Oncology, Inc		24,248
	55,238	*	CMG Pharmaceutical Co Ltd		161
	34,600		CMIC Co Ltd		484
	974,110	*,e	Coherus Biosciences, Inc		13,004
	42,876	*,e	Collegium Pharmaceutical, Inc		450
	99,875	*	Concert Pharmaceuticals Inc		1,473
	1,240,000	e	Consun Pharmaceutical Group Ltd		1,045
	150,051	*,e	Contatus Pharmaceuticals, Inc		824
	82,549	*,e	Corbus Pharmaceuticals Holdings, Inc		590
	482,235	*	Corcept Therapeutics, Inc		9,307
	48,583	*,e	Corium International, Inc		538
	17,231	*,e	Corvus Pharmaceuticals, Inc		275
	20,341		COSMO Pharmaceuticals NV		2,970
	13,022	*	CrystalGenomics, Inc		178
	611,077		CSL Ltd		64,330
	4,766,961		CSPC Pharmaceutical Group Ltd		8,011
	212,728	*	Curis, Inc		317
	227,335	*	Cytokinetics, Inc		3,296
	216,388	*	CytomX Therapeutics, Inc		3,932
	6,916		Dae Hwa Pharmaceutical Co Ltd		128
	90,778		Daewon Pharmaceutical Co Ltd		1,416
	65,835		Daewoong Co Ltd		831
	2,942		Daewoong Pharmaceutical Co Ltd		273
	561,752		Daiichi Sankyo Co Ltd		12,677
	1,128,000		Dawnrays Pharmaceutical Holdings Ltd		650
	10,591	*,e	DBV Technologies S.A.		891
	107,525		Dechra Pharmaceuticals plc		2,945
	205,319	*	Depomed, Inc		1,189
	73,758	*	Dermira, Inc		1,991
	149,958	*	Dishman Carbogen Amcis India Ltd		775
	50,411		Divi S Laboratories Ltd		661
	13,848		Dong-A Pharmaceutical Co Ltd		1,471
	2,924		Dong-A ST Co Ltd		210
	24,894		DongKook Pharmaceutical Co Ltd		1,261
	8,410	*,e	Dova Pharmaceuticals, Inc		204
	130,858		Dr Reddy’s Laboratories Ltd		4,678
	409,573	*	Durect Corp		725
	186,289	*,e	Dynavax Technologies Corp		4,005
	16,542	*,e	Eagle Pharmaceuticals, Inc		987
	39,059	*,e	Edge Therapeutics, Inc		419
	251,392	*,e	Editas Medicine, Inc		6,036
	217,421		Eisai Co Ltd		11,165
	2,265,634		Eli Lilly & Co		193,802
	63,330	*	Emergent Biosolutions, Inc		2,562
	29,298	*	Enanta Pharmaceuticals, Inc		1,371
	414,390	*	Endo International plc		3,549
	708,497	*	Enzo Biochem, Inc		7,418
	80,194	*	Epizyme, Inc		1,528
	22,000		EPS Co Ltd		422
	32,560	*,e	Esperion Thereapeutics, Inc		1,632
	8,949		Eurofins Scientific		5,662
	135,486	*	Evotec AG.		3,224
	250,991	*	Exact Sciences Corp		11,827
	1,039,913	*	Exelixis, Inc		25,197
	695,541		Faes Farma S.A. (Sigma)		2,326

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	77,385	*,e	Fate Therapeutics, Inc	$	306
	73,284		FDC Ltd		210
	272,970	*	FibroGen, Inc		14,686
	54,334	*	Five Prime Therapeutics, Inc		2,223
	53,876	*,e	Flexion Therapeutics Inc		1,303
	55,628	*,e	Fluidigm Corp		280
	72,474	*,e	Fortress Biotech, Inc		320
	26,937	*,e	Foundation Medicine, Inc		1,083
	28,300		Fuji Pharma Co Ltd		966
	12,779	*,e	G1 Therapeutics, Inc		318
	26,661	*	Galapagos NV		2,718
	6,904	*	Genexine Co Ltd		291
	17,370	*	Genfit		506
	49,281	*	Genmab AS		10,898
	58,721	*,e	Genocea Biosciences Inc		86
	36,975	*	Genomic Health, Inc		1,187
	503,400	*	Genomma Lab Internacional S.A. de C.V.		646
	268,000	e	Genscript Biotech Corp		257
	60,980		Genus plc		1,714
	279,224	*,e	Geron Corp		609
	19,265		Gerresheimer AG.		1,493
	3,106,492		Gilead Sciences, Inc		251,688
	2,603,997		GlaxoSmithKline plc		52,055
	120,077		Glenmark Pharmaceuticals Ltd		1,101
	99,623	*	Global Blood Therapeutics, Inc		3,093
	67,000	*,e	GNI Group Ltd		278
	237,144		Granules India Ltd		412
	3,692		Green Cross Corp		648
	14,866		Green Cross Holdings Corp		497
	298,697		Grifols S.A.		8,717
	8	*,m	GW Pharmaceuticals plc		0	^
	70,775		H Lundbeck AS		4,092
	236,097	*	Halozyme Therapeutics, Inc		4,101
	16,822	*	Han All Pharmarceutical Co		165
	3,428		Handok Pharmaceuticals Co Ltd		73
	13,017	e	Hanmi Holdings Co Ltd		1,047
	6,164		Hanmi Pharm Co Ltd		2,453
	13,946	*	Hansa Medical AB		368
	5,100	*,e	HEALIOS KK		64
	90,472	*,e	Heron Therapeutics, Inc		1,461
	120,736	e	Hikma Pharmaceuticals plc		1,962
	26,939		Hisamitsu Pharmaceutical Co, Inc		1,295
	427,881	*	Horizon Pharma plc		5,426
	2,548,684	e,m	Hua Han Bio-Pharmaceutical Holdings Ltd		20
	1,496	*	Hugel, Inc		691
	3,150		Humedix Co Ltd		87
	2,490	*	Huons Co Ltd		145
	24,659	*	Hutchison China MediTech Ltd		1,330
	309,567		Hypermarcas S.A.		3,147
	208,429	*,e	Idera Pharmaceuticals, Inc		465
	125,477	*	Idorsia Ltd		2,242
	379,819	*	Ignyta, Inc		4,691
	49,113		Il Dong Pharmaceutical Co Ltd		829
	619,533	*,n	Illumina, Inc		123,411
	8,384		Ilyang Pharmaceutical Co Ltd		244
	33,931	*,e	Immune Design Corp		351

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	638,423	*,e	Immunogen, Inc	$	4,884
	195,440	*,e	Immunomedics, Inc		2,732
	204,706	*	Impax Laboratories, Inc		4,156
	232,034	*	INC Research Holdings, Inc		12,135
	458,186	*	Incyte Corp		53,489
	529,503		Indivior plc		2,412
	426,700	*	Indofarma Persero Tbk PT		75
	24,284	*,e	Innate Pharma S.A.		295
	224,450	*,e	Innoviva, Inc		3,169
	289,316	*,e	Inovio Pharmaceuticals, Inc		1,834
	185,734	*	Insmed, Inc		5,797
	46,567	*,e	Insys Therapeutics, Inc		414
	27,582	*,e	Intellia Therapeutics, Inc		685
	49,985	*,e	Intercept Pharmaceuticals, Inc		2,901
	74,657	*	Intersect ENT, Inc		2,326
	64,399	*,e	Intra-Cellular Therapies, Inc		1,016
	108,090	*,e	Intrexon Corp		2,055
	7,608	*,e	iNtRON Biotechnology, Inc		192
	78,266	*,e	Invitae Corp		733
	232,817	*	Ionis Pharmaceuticals, Inc		11,804
	174,474	*	Iovance Biotherapeutics, Inc		1,352
	53,034		Ipca Laboratories Ltd		396
	306,372		Ipsen		40,764
	255,768	*,e	Ironwood Pharmaceuticals, Inc		4,033
	8,300	*,e	Japan Tissue Engineering Co Lt		89
	509,377	*	Jazz Pharmaceuticals plc		74,496
	15,780		JB Chemicals & Pharmaceuticals Ltd		68
	8,700		JCR Pharmaceuticals Co Ltd		268
	1,208		Jeil Pharmaceutical Co		34
	2,816	*	Jeil Pharmaceutical Co Ltd		133
	8,156,024		Johnson & Johnson		1,060,365
	37,710	*,e	Jounce Therapeutics, Inc		588
	118,951		Jubilant Organosys Ltd		1,203
	148,173	*,e	Juno Therapeutics, Inc		6,647
	67,962		JW Holdings Corp		470
	19,398		JW Shinyak Corp		115
	41,300		Kaken Pharmaceutical Co Ltd		2,102
	13,236	*	Kala Pharmaceuticals, Inc		302
	67,045	*	Karyopharm Therapeutics, Inc		736
	173,121	*,e	Keryx Biopharmaceuticals, Inc		1,229
	42,948	*,e	Kindred Biosciences Inc		337
	31,700		Kissei Pharmaceutical Co Ltd		857
	107,707	*	Kite Pharma, Inc		19,367
	73,477	*	Knight Therapeutics, Inc		509
	3,198		Kolon Life Science, Inc		374
	22,640	*	Komipharm International Co Ltd		691
	67,203		Korea United Pharm Inc		1,303
	36,593	*,e	Kura Oncology, Inc		547
	82,205		Kwang Dong Pharmaceutical Co Ltd		582
	59,520		Kyongbo Pharmaceutical Co Ltd		596
	39,436		Kyorin Co Ltd		795
	204,982		Kyowa Hakko Kogyo Co Ltd		3,493
	33,653	*,e	La Jolla Pharmaceutical Co		1,170
	39,406	e	Laboratorios Almirall S.A.		401
	53,820	*,e	Lannett Co, Inc		993
	24,290	g	Laurus Labs Ltd		189

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	603,000	e	Lee’s Pharmaceutical Holdings Ltd	$	479
	86,291	*,e	Lexicon Pharmaceuticals, Inc		1,061
	45,107	*	Ligand Pharmaceuticals, Inc (Class B)		6,141
	6,000		Linical Co Ltd		80
	191,041		Livzon Pharmaceutical Group, Inc		1,108
	616,153		Lonza Group AG.		161,903
	34,000	*	Lotus Pharmaceutical Co Ltd		53
	57,264	*	Loxo Oncology, Inc		5,275
	119,458		Luminex Corp		2,429
	338,588		Lupin Ltd		5,259
	736,000	e	Luye Pharma Group Ltd		430
	5,650	*	Macrogen, Inc		118
	65,753	*	MacroGenics, Inc		1,215
	8,304	*,e	Madrigal Pharmaceuticals, Inc		374
	178,850	*	Mallinckrodt plc		6,684
	140,549		Marksans Pharma Ltd		92
	113,485	*,e	Matinas BioPharma Holdings, Inc		150
	1,036,760	*,e	Mayne Pharma Group Ltd		539
	130,726	*,e	Medicines Co		4,842
	68,261	*,e	MediciNova, Inc		435
	65,918	*	Medigen Biotechnology Corp		97
	37,320	*,e	Medpace Holdings, Inc		1,191
	4,096		Medy-Tox, Inc		1,775
	259,100		Mega Lifesciences PCL		294
	8,217,278		Merck & Co, Inc		526,152
	170,112		Merck KGaA		18,946
	479,412	e	Merrimack Pharmaceuticals, Inc		6,971
	652	*	Mersana Therapeutics, Inc		11
	168,829	*,e	Mesoblast Ltd		182
	54,231	*	Mettler-Toledo International, Inc		33,957
	200,549	*,e	MiMedx Group, Inc		2,383
	125,874	*,e	Minerva Neurosciences, Inc		957
	26,285	*,e	Miragen Therapeutics, Inc		241
	21,900		Mochida Pharmaceutical Co Ltd		1,611
	6,449	*	Molecular Partners AG.		170
	266,466	*	Momenta Pharmaceuticals, Inc		4,930
	17,192	*,e	Morphosys AG.		1,452
	3,045,748	*	Mylan NV		95,545
	139,804	*,e	MyoKardia, Inc		5,991
	123,370	*	Myriad Genetics, Inc		4,464
	17,600	*,e	NanoCarrier Co Ltd		109
	72,910	*	NanoString Technologies, Inc		1,178
	60,522	*,e	NantKwest, Inc		332
	78,024		Natco Pharma Ltd		941
	130,338	*	Natera, Inc		1,680
	9,152	*,e	Naturalendo Tech Co Ltd		193
	284,258	*	Nektar Therapeutics		6,822
	107,942	*,e	NeoGenomics, Inc		1,201
	49,054	*,e	Neos Therapeutics, Inc		449
	173,913	*	Neurocrine Biosciences, Inc		10,657
	9,437	*	Neuroderm Ltd		367
	151,553	*,e	NewLink Genetics Corp		1,543
	8,769	*,e	Newron Pharmaceuticals S.p.A		134
	143,350	e	Nichi-iko Pharmaceutical Co Ltd		2,232
	45,300		Nippon Shinyaku Co Ltd		3,148
	23,096	*	Nordic Nanovector ASA		232

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,359,124		Novartis AG.	$	288,129
	646,706	*,e	Novavax, Inc		737
	29,826	*,e	Novelion Therapeutics, Inc		210
	3,864,224		Novo Nordisk AS		185,787
	58,016	*	Nymox Pharmaceutical Corp		222
	71,000	*	OBI Pharma, Inc		406
	42,604	*,e	Ocular Therapeutix, Inc		263
	84,565	*,e	Omeros Corp		1,828
	7,393	*,e	Oncocyte Corp		56
	64,400	*,e	OncoTherapy Science, Inc		146
	317,580		Ono Pharmaceutical Co Ltd		7,209
	777,198	*,e	Opko Health, Inc		5,332
	180,479	*,e	Organovo Holdings, Inc		401
	84,977		Orion Oyj (Class B)		3,946
	55,797	*	Otonomy, Inc		181
	194,546		Otsuka Holdings KK		7,735
	10,401	*,e	Ovid therapeutics, Inc		89
	195,311	*,e	Pacific Biosciences of California, Inc		1,025
	160,682	*,e	Pacira Pharmaceuticals, Inc		6,034
	2,559,486	*,e	Paion AG.		8,325
	46,585	*,e	Paratek Pharmaceuticals, Inc		1,169
	165,920	*	Parexel International Corp		14,614
	570,068	*	PDL BioPharma, Inc		1,933
	65,500	*	PeptiDream, Inc		2,025
	3,282	*	Peptron, Inc		133
	393,814		PerkinElmer, Inc		27,161
	187,965	e	Perrigo Co plc		15,911
	15,290		Pfizer Ltd		426
	18,766,513		Pfizer, Inc		669,965
	111,452	*	Pharma Mar S.A.		435
	2,394		PHARMA RESEARCH PRODUCTS Co Ltd		83
	53,472		PharmaEngine Inc		274
	91,000	*	PharmaEssentia Corp		425
	13,000		Pharmally International Holding Co Ltd		178
	178,069		Phibro Animal Health Corp		6,597
	193,050	*,e	Pieris Pharmaceuticals, Inc		1,112
	121,295		Piramal Healthcare Ltd		4,877
	180,236	*	Portola Pharmaceuticals, Inc		9,738
	200,765	*	PRA Health Sciences, Inc		15,292
	170,299	*	Prestige Brands Holdings, Inc		8,530
	4,120	e	Probi AB		177
	261,583	*,e	Progenics Pharmaceuticals, Inc		1,925
	383,772	*,e	ProMetic Life Sciences, Inc		492
	18,648	*,e	Protagonist Therapeutics, Inc		330
	89,879	*,e	Prothena Corp plc		5,821
	20,399,331		PT Kalbe Farma Tbk		2,524
	76,233	*	PTC Therapeutics, Inc		1,525
	109,300	*	Puma Biotechnology, Inc		13,089
	175,106	*	QIAGEN NV		5,535
	419,796		QIAGEN NV		13,224
	447,012	*	Quintiles Transnational Holdings, Inc		42,497
	23,066	*	Ra Pharmaceuticals, Inc		337
	70,845	*,e	Radius Health, Inc		2,731
	21,056	*,e	Reata Pharmaceuticals, Inc		655
	28,839	e	Recipharm AB		342
	149,687		Recordati S.p.A.		6,908

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,109	*,e	Recro Pharma, Inc	$	252
	165,055	*	Regeneron Pharmaceuticals, Inc		73,799
	50,225	*,e	REGENXBIO, Inc		1,655
	70,859	*,e	Repligen Corp		2,715
	556,326	*	Retrophin, Inc		13,847
	44,610	*,e	Revance Therapeutics, Inc		1,229
	3,117		Reyon Pharmaceutical Co Ltd		86
	234,981		Richter Gedeon Rt		5,839
	218,686	*	Rigel Pharmaceuticals, Inc		555
	884,355		Roche Holding AG.		226,059
	172,317		Rohto Pharmaceutical Co Ltd		3,891
	95,589	*,e	Sage Therapeutics, Inc		5,955
	37,918		Samjin Pharmaceutical Co Ltd		1,081
	18,801	*,e,g	Samsung Biologics Co Ltd		5,563
	10,000	*,e	SanBio Co Ltd		149
	606,147	*	Sangamo Biosciences, Inc		9,092
	7,679		Sanofi India Ltd		491
	1,872,993		Sanofi-Aventis		186,450
	324,238		Santen Pharmaceutical Co Ltd		5,116
	3,333	*,e	Santhera Pharmaceutical Holding AG.		135
	163,847	*,e	Sarepta Therapeutics, Inc		7,432
	91,500	e	Sawai Pharmaceutical Co Ltd		5,202
	49,847	*	Schnell Biopharmaceuticals, Inc		172
	215,348	*	Sciclone Pharmaceuticals, Inc		2,412
	160,960		Scinopharm Taiwan Ltd		174
	49,650		Searle Co Ltd		190
	644,170	*,n	Seattle Genetics, Inc		35,049
	50,805	*	Seegene, Inc		1,223
	1,053,500		Seikagaku Corp		19,076
	29,634	*,e	Selecta Biosciences, Inc		541
	62,456	*	Sequent Scientific Ltd		113
	40,075	*,e	Seres Therapeutics, Inc		643
	650,000		Shandong Xinhua Pharmaceutical Co Ltd		631
	166,800		Shanghai Dingli Technology Dev		152
	430,751		Shanghai Fosun Pharmaceutical Group Co Ltd		1,788
	159,000	e	Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		82
	27,300	e,g	Shanghai Haohai Biological Technology Co Ltd		123
	34,500		Shanghai Shenqi Pharmaceutical Investment Management Co Ltd		46
	16,687		Shilpa Medicare Ltd		150
	521,379		Shionogi & Co Ltd		28,502
	570,397		Shire Ltd		29,052
	742		Shire plc (ADR)		114
	12,214		Siegfried Holding AG.		4,023
	8,246	*,e	Sienna Biopharmaceuticals, Inc		183
	3,258,000		Sihuan Pharmaceutical Holdings		1,190
	32,711	*,e	SillaJen, Inc		1,282
	3,879,205		Sino Biopharmaceutical		4,110
	130,181		Sirtex Medical Ltd		1,368
	11,700	*,e	Sosei Group		990
	62,309	*,e	Spark Therapeutics, Inc		5,555
	164,727	*,e	Spectrum Pharmaceuticals, Inc		2,318
	4,271,703		SSY Group Ltd		1,955
	44,016	e	ST Pharm Co Ltd		1,271
	87,310		Stada Arzneimittel AG.		8,497

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,694	*	Stallergenes Greer plc	$	136
	41,732	*,e	Stemline Therapeutics, Inc		463
	67,857		Strides Arcolab Ltd		921
	44,568	*,e	Strongbridge Biopharma plc		308
	46,796	*,e	Sucampo Pharmaceuticals, Inc (Class A)		552
	200,049	e	Sumitomo Dainippon Pharma Co Ltd		2,606
	40,330	*	Sun Pharma Advanced Research Company Ltd		235
	1,446,886		Sun Pharmaceutical Industries Ltd		11,166
	138,879	*	Supernus Pharmaceuticals, Inc		5,555
	30,912		Suven Life Sciences Ltd		84
	43,097	*	Syndax Pharmaceuticals, Inc		504
	452,821	*,e	Synergy Pharmaceuticals, Inc		1,313
	27,196	g	Syngene International Ltd		207
	22,528	*,e	Syros Pharmaceuticals, Inc		332
	183,799	*	Taigen Biopharmaceuticals Holdings Ltd		125
	157,000	*	TaiMed Biologics, Inc		997
	15,568		Taisho Pharmaceutical Holdings Co Ltd		1,183
	28,900		Takara Bio, Inc		399
	1,489,064		Takeda Pharmaceutical Co Ltd		82,339
	713,178		Tanabe Seiyaku Co Ltd		16,372
	22,839	*,e	Taro Pharmaceutical Industries Ltd		2,574
	25,630		Tecan Group AG.		5,311
	81,621	*,e	Teligent, Inc		548
	255,562	*,e	TESARO, Inc		32,993
	95,696	*	Tetraphase Pharmaceuticals, Inc		655
	1,106,711		Teva Pharmaceutical Industries Ltd (ADR)		19,478
	87,914	*,e	TG Therapeutics, Inc		1,042
	295,798	*,e	TherapeuticsMD, Inc		1,565
	79,199	*,e	Theravance Biopharma, Inc		2,712
	855,276		Thermo Fisher Scientific, Inc		161,818
	1,650,200	e	Tianjin ZhongXin Pharmaceutical Group Corp Ltd		1,785
	16,568	*	Tocagen, Inc		206
	1,226,000	e	Tong Ren Tang Technologies Co Ltd		1,568
	7,700		Torii Pharmaceutical Co Ltd		219
	51,468		Towa Pharmaceutical Co Ltd		2,601
	209,014	*,e	Trevena, Inc		533
	130,892		Tsumura & Co		4,717
	136,917		TTY Biopharm Co Ltd		401
	45,000	*	TWi Pharmaceuticals, Inc		102
	34,057		UCB S.A.		2,427
	87,680	*	Ultragenyx Pharmaceutical, Inc		4,670
	43,462		Unichem Laboratories Ltd		162
	1,033,500	*,e	United Laboratories Ltd		771
	57,837	*	United Therapeutics Corp		6,778
	523,173	*	Valeant Pharmaceuticals International, Inc		7,497
	393,492	*	Vanda Pharmaceuticals, Inc		7,044
	45,456	*,e	VBI Vaccines, Inc		175
	379,398	*	Vectura Group plc		541
	88,406	*	Veracyte, Inc		775
	265,586	*	Versartis, Inc		651
	971,421	*,n	Vertex Pharmaceuticals, Inc		147,695
	57,315	e	Vifor Pharma AG.		6,760
	2,749	*,e	Virbac S.A.		404
	8,557	*	ViroMed Co Ltd		878
	14,600		Vitrolife AB		1,185

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,622	*,e	Voyager Therapeutics, Inc	$	589
	16,641	*	vTv Therapeutics, Inc		100
	156,176	*	VWR Corp		5,171
	219,401	*	Waters Corp		39,387
	22,217	*,e	WaVe Life Sciences Pte Ltd		483
	144,415		Whanin Pharmaceutical Co Ltd		2,704
	5,066,000	e	Winteam Pharmaceutical Group Ltd		2,831
	17,667		Wockhardt Ltd		167
	37,320	*,e	XBiotech, Inc		163
	174,232	*	Xencor Inc		3,993
	21,469		Yuhan Corp		3,877
	58,087	*,e	Yungjin Pharmaceutical Co Ltd		493
	361,050		YungShin Global Holding Corp		476
	55,210	*	Zafgen, Inc		194
	16,975	*,e	Zealand Pharma AS		328
	18,400		Zeria Pharmaceutical Co Ltd		329
	254,806	*,e	ZIOPHARM Oncology, Inc		1,565
	1,638,946		Zoetis, Inc		104,499
	46,548	*,e	Zogenix, Inc		1,632
	23,974	*,e	Zynerba Pharmaceuticals, Inc		200
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		9,412,881
REAL ESTATE - 3.6%
	18,050,000		8990 Holdings, Inc		1,777
	1,660,544		Abacus Property Group		4,928
	160,439		Acadia Realty Trust		4,592
	1,802		Activia Properties Inc		7,479
	40,694	*,e	ADLER Real Estate AG.		644
	22,380	g	ADO Properties S.A.		1,107
	1,364		Advance Residence Investment Corp		3,355
	12,415		Aedifica S.A.		1,171
	24,976		Aeon Mall Co Ltd		445
	7,752		AEON REIT Investment Corp		7,851
	1	*	Africa Israel Investments Ltd		0
	7,339		Africa Israel Properties Ltd		162
	1,006,518		Agile Property Holdings Ltd		1,477
	235,544		Agree Realty Corp		11,560
	485,841		AIMS AMP Capital Industrial REIT		505
	43,653	*	Airport City Ltd		565
	2,977,070		Aldar Properties PJSC		1,893
	129,087		Alexander & Baldwin, Inc		5,981
	4,079		Alexander’s, Inc		1,730
	93,815		Alexandria Real Estate Equities, Inc		11,161
	52,420		Aliansce Shopping Centers S.A.		307
	10,161,846		Allco Commercial Real Estate Investment Trust		10,345
	28,089		Allied Properties Real Estate Investment Trust		897
	29,061		Allreal Holding AG.		5,093
	211,668		Alony Hetz Properties & Investments Ltd		2,248
	407,040		Alstria Office REIT-AG.		5,819
	21,163	*,e	Altisource Portfolio Solutions S.A.		547
	93,937		Altisource Residential Corp		1,044
	27,963		Altus Group Ltd		712
	4,117,800		Amata Corp PCL (Foreign)		2,704
	313,397		American Assets Trust,Inc		12,464
	254,141		American Campus Communities, Inc		11,220
	841,631		American Homes 4 Rent		18,272

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	901,611		American Tower Corp	$	123,232
	292,598		Amot Investments Ltd		1,629
	396,700		Ananda Development PCL (FOREIGN)		67
	2,659		ANF Immobilier		69
	3,391,060	*	AP Thailand PCL (Foreign)		800
	827,809	e	Apartment Investment & Management Co (Class A)		36,308
	571,766		Apple Hospitality REIT, Inc		10,812
	73,800	e	Ardepro Co Ltd		74
	1,434,896		Argosy Property Ltd		1,078
	89,500		Armada Hoffler Properties, Inc		1,236
	1,938,441		Arrowhead Properties Ltd (Class A)		1,190
	183,811		Artis Real Estate Investment Trust		1,947
	1,192,400		Ascendas Hospitality Trust		734
	578,109		Ascendas REIT		1,136
	1,883,791		Ascott Residence Trust		1,632
	106,883		Ashford Hospitality Prime, Inc		1,015
	156,227		Ashford Hospitality Trust, Inc		1,042
	2,038,843		Assura Group Ltd		1,713
	307,942	*	Attacq Ltd		421
	23,814	*	AV Homes, Inc		408
	328,679		AvalonBay Communities, Inc		58,643
	442,174		Aventus Retail Property Fund Ltd		784
	240,414		Aveo Group		452
	2,272,000	*,e	AVIC International Holding HK Ltd		169
	45,721		Axia Real Estate SOCIMI S.A.		934
	844,466		Axis Real Estate Investment Trust		320
	7,489,815		Ayala Land, Inc		6,423
	39,585		Azrieli Group		2,202
	5,830,400		Bangkokland PCL		315
	92,331		Barwa Real Estate Co		813
	1,564		Bayside Land Corp		719
	19,115		Befimmo SCA Sicafi		1,206
	2,436,000		Beijing Capital Land Ltd		1,363
	482,000		Beijing North Star Co		181
	1,320,000	*,e	Beijing Properties Holdings Ltd		57
	3,370,658		Beni Stabili S.p.A.		2,924
	10,819		Big Shopping Centers Ltd		770
	245,258		Big Yellow Group plc		2,488
	1,318		BLife Investment Corp		3,155
	8,387		Blue Square Real Estate Ltd		351
	150,326		Bluerock Residential Growth REIT, Inc		1,663
	28,799		Boardwalk REIT		877
	605,856		Boston Properties, Inc		74,448
	1,761,262		BR Malls Participacoes S.A.		7,824
	32,708		BR Properties S.A.		115
	267,092		Brandywine Realty Trust		4,671
	516,673		British Land Co plc		4,171
	802,624		Brixmor Property Group, Inc		15,089
	675,336		Bunnings Warehouse Property Trust		1,565
	116,079		BUWOG AG.		3,479
	29,613,014		C C Land Holdings Ltd		6,692
	178,972		CA Immobilien Anlagen AG.		5,140
	665,520	e	Cache Logistics Trust		410
	509,498		Cambridge Industrial Trust		208
	407,448		Camden Property Trust		37,261

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	260,086		Canadian Apartment Properties REIT	$	7,031
	25,936		Canadian Real Estate Investment Trust		959
	1,424,743		CapitaCommercial Trust		1,742
	506,445	e	Capital & Counties Properties		1,798
	3,932,718		CapitaLand Ltd		10,405
	1,083,401		CapitaMall Trust		1,599
	44,900		CapitaMalls Malaysia Trust		15
	327,132		CapitaRetail China Trust		387
	237,583		CareTrust REIT, Inc		4,524
	4,762,500	*,e	Carnival Group International Holdings Ltd		253
	218,797		Castellum AB		3,436
	99,357		CatchMark Timber Trust Inc		1,253
	515,300		Cathay Real Estate Development Co Ltd		284
	321,865	e	CBL & Associates Properties, Inc		2,700
	890,332	*	CBRE Group, Inc		33,726
	1,140,420	e	CDL Hospitality Trusts		1,362
	15,000,000		Cebu Holdings, Inc		1,565
	484,333		Cedar Realty Trust, Inc		2,722
	38,119		Cedar Woods Properties Ltd		169
	506,000	*	Central China Real Estate Ltd		227
	1,560,958		Central Pattana PCL (Foreign)		3,686
	122,595		Centuria Industrial REIT		241
	6,068,636		Champion Real Estate Investment Trust		4,197
	1,359,105		Charter Hall Group		5,732
	106,191	e	Charter Hall Long Wale REIT		351
	94,918		Chatham Lodging Trust		2,024
	114,943		Chesapeake Lodging Trust		3,100
	4,217,722		Cheuk Nang Holdings Ltd		2,780
	4,205,500		China Aoyuan Property Group Ltd		2,358
	1,596,000		China Electronics Optics Valley Union Holding Co Ltd		156
	4,994,663	e	China Evergrande Group		17,514
	882,000	*,e	China Logistics Property Holdings Co Ltd		278
	734,000		China Merchants Land Ltd		147
	9,385,021	*	China New Town Development Co Ltd		475
	592,000	e	China Overseas Grand Oceans Group Ltd		382
	8,637,767		China Overseas Land & Investment Ltd		28,183
	880,000	e	China Overseas Property Holdings Ltd		211
	8,949,877		China Resources Land Ltd		27,518
	4,892,400		China SCE Property Holdings Ltd		2,387
	1,822,000		China South City Holdings Ltd		522
	2,536,215		China Vanke Co Ltd		8,391
	335,500		Chinese Estates Holdings Ltd		581
	29,341		Choice Properties REIT		313
	71,088		Chong Hong Construction Co		164
	9,036,758		CIFI Holdings Group Co Ltd		5,050
	108,591		City Developments Ltd		910
	179,051		City Office REIT, Inc		2,466
	728,912	e	Citycon Oyj		1,918
	415,681		Civitas Social Housing plc		621
	3,066,730		CK Asset Holdings Ltd		25,495
	29,475	e	Clipper Realty, Inc		316
	42,799		Cofinimmo		5,499
	68,115		Colliers International Group, Inc		3,379
	1,141,578		Colony NorthStar, Inc		14,338
	170,000	e	Colour Life Services Group		111

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	465,152		Columbia Property Trust, Inc	$	10,126
	513	*,e	Comforia Residential REIT, Inc		1,085
	57,823		Cominar Real Estate Investment Trust		629
	59,630		Community Healthcare Trust, Inc		1,608
	211,100		Concentradora Fibra Danhos S.A. de C.V.		362
	191,600		Concentradora Fibra Hotelera Mexicana S.A. de C.V.		148
	7,143		Consolidated-Tomoka Land Co		429
	254,528		CoreCivic, Inc		6,814
	23,558	e	CorEnergy Infrastructure Trust, Inc		833
	77,073		Coresite Realty		8,624
	557,436		Corp Inmobiliaria Vesta SAB de C.V.		797
	126,882		Corporate Office Properties Trust		4,166
	4,509,391		Country Garden Holdings Co Ltd		7,198
	120,851		Countrywide plc		175
	1,884,465		Cousins Properties, Inc		17,601
	1,425		Crescendo Investment Corp		1,152
	466,616		Croesus Retail Trust		401
	29,477		Crombie Real Estate Investment Trust		322
	2,025,189		Cromwell Group		1,518
	1,102,856		Crown Castle International Corp		110,264
	642,000	*,e	Crown International Corp Ltd		105
	15,898,943		CSI Properties Ltd		774
	20,637		CT Real Estate Investment Trust		230
	477,034		CubeSmart		12,384
	441,963		CyrusOne, Inc		26,045
	17,546	*	D Carnegie & Co AB		247
	1,247	*	DA Office Investment Corp		6,241
	172,700		Daibiru Corp		1,910
	25,100		Daikyo, Inc		493
	2,595,900		Daiman Development BHD		1,402
	83,820		Daito Trust Construction Co Ltd		15,271
	326,587		Daiwa House Industry Co Ltd		11,281
	1,528,438		DAMAC Properties Dubai Co PJSC		1,584
	249,888		DCT Industrial Trust, Inc		14,474
	872,759		DDR Corp		7,994
	1,691,112		Delta Property Fund Ltd		922
	223,617		Derwent London plc		8,376
	640,111		Deutsche Annington Immobilien SE		27,261
	33,439		Deutsche Euroshop AG.		1,255
	352,372		Deutsche Wohnen AG.		14,975
	585,802		Dexus Property Group		4,371
	1,174,929	*	Deyaar Development PJSC		158
	434,726		DiamondRock Hospitality Co		4,760
	24,945		DIC Asset AG.		276
	427,207		Digital Realty Trust, Inc		50,551
	146,576		Dios Fastigheter AB		936
	1,000,000		DLF Ltd		2,521
	451,374		Dongwon Development Co Ltd		2,167
	733,130	*	DoubleDragon Properties Corp		577
	292,444		Douglas Emmett, Inc		11,528
	217,157		Dream Global REIT		1,916
	42,248		Dream Industrial Real Estate Investment Trust		308
	22,677		Dream Office Real Estate Investment Trust		382
	79,025	*	Dream Unlimited Corp		457
	343,833		Duke Realty Corp		9,909

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	74,369		Easterly Government Properties, Inc	$	1,537
	62		Eastern & Oriental BHD		0	^
	64,521		EastGroup Properties, Inc		5,686
	774,200	*	Eco World Development Group BHD		284
	176,194		Education Realty Trust, Inc		6,331
	1,972,410		Emaar Malls Group PJSC		1,251
	9,393,594		Emaar Properties PJSC		21,758
	1,093,599	e	Emira Property Fund Ltd		1,070
	2,091,721		Emlak Konut Gayrimenkul Yatiri		1,574
	3,085,333		Emperor International Holdings		1,095
	317,084		Empire State Realty Trust, Inc		6,513
	548,568		Empiric Student Property plc		744
	157,081		Entertainment Properties Trust		10,955
	332,769	g	Entra ASA		4,554
	180,093		Equinix, Inc		80,375
	207,166	*	Equity Commonwealth		6,298
	398,046		Equity Lifestyle Properties, Inc		33,866
	874,965		Equity Residential		57,686
	914,268	*	Eshraq Properties Co PJSC		192
	192,981		Essex Property Trust, Inc		49,023
	59,628		Eurobank Properties Real Estate Investment Co		613
	35,367		Eurocommercial Properties NV		1,512
	390,906		Extra Space Storage, Inc		31,241
	754,344		Ezdan Holding Group QSC		2,179
	136,938		Fabege AB		2,811
	3,328,000		Fantasia Holdings Group Co Ltd		474
	4,320,922		Far East Consortium		2,287
	520,100		Far East Hospitality Trust		257
	751,812		Farglory Land Development Co Ltd		849
	62,730	e	Farmland Partners, Inc		567
	106,265	*	Fastighets AB Balder		2,766
	240,347		Federal Realty Investment Trust		29,853
	2,331,306		Fibra Uno Administracion S.A. de C.V.		3,933
	18,000,000		Filinvest Development Corp		2,774
	62,493,000		Filinvest Land, Inc		2,497
	115,812	e	First Capital Realty, Inc		1,827
	578,028		First Industrial Realty Trust, Inc		17,393
	113,827		First Potomac Realty Trust		1,268
	272,146		First Real Estate Investment Trust		268
	60,245		FirstService Corp		3,959
	436,676		Folkestone Education Trust		939
	49,444		Fonciere Des Regions		5,137
	686,934		Forest City Realty Trust, Inc		17,524
	78,474	*,e,m	Forestar Group, Inc		1,393
	711,823		Fortress Income Fund Ltd		2,037
	549,641		Fortress Income Fund Ltd (A Shares)		700
	511,985		Four Corners Property Trust, Inc		12,759
	168,958	e	Foxtons Group plc		153
	199,587		Franklin Street Properties Corp		2,120
	6,755,725		Franshion Properties China Ltd		3,410
	332,800		Frasers Centrepoint Trust		518
	3,082,200		Frasers Logistics & Industrial Trust		2,433
	1,032	*	Frontier Real Estate Investment Corp		4,187
	12,821	*	FRP Holdings, Inc		580
	426	*	Fukuoka REIT Corp		606
	7,350,000	e	Fullshare Holdings Ltd		3,199

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,090,000		Future Land Development Holdin	$	536
	1,769,460		Gaming and Leisure Properties, Inc		65,275
	325,728	e	Gateway Lifestyle		501
	233,677		Gazit Globe Ltd		2,253
	19,606		Gazit, Inc		356
	308,488		GDI Property Group		273
	24,910		Gecina S.A.		4,042
	2,438,000		Gemdale Properties and Investment Corp Ltd		276
	235,016		Geo Group, Inc		6,322
	214,352		Getty Realty Corp		6,133
	1,736,171		GGP, Inc		36,060
	49,554		Gladstone Commercial Corp		1,104
	1,945,291		Global Logistic Properties		4,740
	39,332	e	Global Medical REIT, Inc		353
	127,984	*	Global Net Lease, Inc		2,802
	438		Global One Real Estate Investment Corp		1,427
	348,696		Globe Trade Centre S.A.		901
	2,211,895	*	Glorious Property Holdings Ltd		246
	3,571		GLP J-Reit		3,726
	35,452	*	Godrej Properties Ltd		337
	55,180		Goldcrest Co Ltd		1,309
	790,662	e	Goodman Property Trust		731
	178,124		Government Properties Income Trust		3,343
	957,767		GPT Group (ASE)		3,732
	1,088,432		Grainger plc		3,911
	291,895		Gramercy Property Trust		8,830
	78,177		Grand City Properties S.A.		1,651
	67,678		Granite REIT		2,716
	249,096		Great Eagle Holdings Ltd		1,311
	401,970		Great Portland Estates plc		3,294
	2,431,408		Green REIT plc		4,331
	3,729,000		Greenland Hong Kong Holdings Ltd		1,420
	421,500	e	Greentown China Holdings Ltd		509
	1,511		Griffin Land & Nurseries, Inc (Class A)		55
	113,513	e	Growthpoint Properties Australia Ltd		283
	3,559,540	e	Growthpoint Properties Ltd		6,393
	460,000	*	Grupo GICSA S.A. de C.V.		301
	394,000	*	Guangdong Land Holdings Ltd		83
	1,756,685		Guangzhou R&F Properties Co Ltd		4,080
	611,000	e	Guorui Properties Ltd		209
	124,919		H&R Real Estate Investment Trust		2,156
	44,587		Hamborner AG.		482
	370,302		Hammerson plc		2,666
	82,000		Hang Lung Group Ltd		295
	3,833,279		Hang Lung Properties Ltd		9,126
	315		Hankyu Reit, Inc		375
	1,902,562		Hansteen Holdings plc		3,518
	1,348,172		HCP, Inc		37,520
	1,050	*	Health Care & Medical Investment Corp		900
	354,496		Healthcare Realty Trust, Inc		11,464
	715,627		Healthcare Trust of America, Inc		21,326
	21,500		Heiwa Real Estate Co Ltd		367
	177,049		Helical Bar plc		713
	131,780		Heliopolis Housing		209
	445,810		Hemfosa Fastigheter AB		5,668
	2,009,540		Henderson Land Development Co Ltd		13,366

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	86,848	e	Hersha Hospitality Trust	$	1,621
	245,340		HFF, Inc (Class A)		9,706
	28,708,690	e	Hibernia REIT plc		51,744
	872,042		Highwealth Construction Corp		1,159
	240,492		Highwoods Properties, Inc		12,527
	355,606		Hispania Activos Inmobiliarios SAU		6,409
	154,880	e	HKC Holdings Ltd		126
	1,369,700		Hongkong Land Holdings Ltd		9,876
	910,000		Hopson Development Holdings Ltd		1,041
	423	*	Hoshino Resorts REIT, Inc		2,106
	141,683		Hospitality Properties Trust		4,037
	2,117,828		Host Marriott Corp		39,159
	169,629	*	Housing Development & Infrastruture Ltd		147
	79,475	*	Howard Hughes Corp		9,372
	608,235		Huaku Development Co Ltd		1,329
	82,000		Huang Hsiang Construction Co		76
	634,271		Hudson Pacific Properties		21,267
	313,066		Hufvudstaden AB (Series A)		5,348
	688		Hulic Reit, Inc		1,015
	202,362		Hung Poo Real Estate Development Corp		140
	306,000		Hung Sheng Construction Co Ltd		226
	730,000	e	Hydoo International Holding Ltd		74
	224,452		Hyprop Investments Ltd		1,753
	1,642,752		Hysan Development Co Ltd		7,751
	11,845		Icade		1,057
	146,600	e	Ichigo Holdings Co Ltd		502
	738	*	Ichigo Real Estate Investment Corp		498
	1,022,000	*,e	IDU Co		1,127
	1,346,300		IGB Real Estate Investment Trust		558
	53,700		Iguatemi Empresa de Shopping Centers S.A.		666
	1,153,005		Immobiliare Grande Distribuzione		1,203
	658,721	*,†,m	Immofinanz ANSPR NACHB AG.		0
	524,789	e	Immofinanz Immobilien Anlagen AG.		1,355
	136,919		Independence Realty Trust, Inc		1,392
	145,831	*	Indiabulls Real Estate Ltd		494
	315		Industrial & Infrastructure Fund Investment Corp		1,335
	388,724	*	ING Office Fund		1,374
	2,771,641		Ingenia Communities Group		5,746
	427,491		Inmobiliaria Colonial S.A.		4,246
	21,770		InterRent Real Estate Investment Trust		140
	532		Intershop Holding AG.		264
	7,675		Intervest Offices		201
	529,096	e	Intu Properties plc		1,636
	4,284	e	Invesco Office J-Reit, Inc		4,084
	2,038		Investis Holding S.A.		121
	143,600	e	Investors Cloud Co Ltd		8,558
	302,483		Investors Real Estate Trust		1,848
	5,950	*	Invincible Investment Corp		2,458
	219,143	e	Invitation Homes, Inc		4,964
	3,511,566		IOI Properties Group Sdn BHD		1,680
	230,714		Irish Residential Properties REIT plc		402
	540,180		Iron Mountain, Inc		21,013
	1,430,445		Is Gayrimenkul Yatirim Ortakligi AS		550
	52,000	e	iShares Dow Jones US Real Estate Index Fund		4,154
	134,769	*	iStar Financial, Inc		1,590
	747	*	Japan Excellent, Inc		888

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,351		Japan Hotel REIT Investment Corp	$	5,278
	617	*	Japan Logistics Fund Inc		1,149
	426		Japan Prime Realty Investment Corp		1,423
	271		Japan Real Estate Investment Corp		1,303
	1,539	e	Japan Rental Housing Investments, Inc		1,086
	521		Japan Retail Fund Investment Corp		935
	1,620	*,e	Japan Senior Living Investment Corp		1,994
	177,761	*	JBG SMITH Properties		6,081
	18,801	e	Jernigan Capital, Inc		386
	99,821	*	Jerusalem Economy Ltd		247
	1,596,750	*,†,m	Jiangsu Future Land Co Ltd		4,628
	31,908		Jones Lang LaSalle, Inc		3,941
	13,000,000		Joy City Property Ltd		2,408
	2,761,275		K Wah International Holdings Ltd		1,667
	2,623,000	*	Kaisa Group Holdings Ltd		1,958
	676		Kenedix Realty Investment Corp		3,722
	816		Kenedix Residential Investment Corp		2,098
	1,996		Kenedix Retail REIT Corp		4,150
	610,000		Kenedix, Inc		3,394
	315,212	e	Kennedy-Wilson Holdings, Inc		5,847
	1,856,817		Keppel DC REIT		1,815
	1,182,670		Kerry Properties Ltd		4,912
	42,926		Killam Apartment Real Estate Investment Trust		454
	275,159		Kilroy Realty Corp		19,569
	327,191		Kimco Realty Corp		6,397
	228,000		Kindom Construction Co		133
	158,841		Kite Realty Group Trust		3,217
	1,020,094		Kiwi Property Group Ltd		995
	117,500		KLCC Property Holdings BHD		223
	164,445		Klepierre		6,459
	688,989	e	Klovern AB (B Shares)		918
	27,516		Korea Asset In Trust Co Ltd		201
	101,108		Korea Real Estate Investment Trust Co		293
	2,722,130		Kowloon Development Co Ltd		3,068
	1,717,544	e	K-REIT Asia		1,494
	363,249	*	KSL Holdings BHD		109
	140,176		Kungsleden AB		966
	300,185		Kuoyang Construction Co Ltd		119
	1,889,517		KWG Property Holding Ltd		2,022
	1,607,778		Lai Fung Holdings Ltd		2,608
	443,506		Lai Sun Development Co Ltd		802
	96,508		Lamar Advertising Co		6,614
	28,741	*	Lamda Development S.A.		232
	323,870		Land Securities Group plc		4,224
	4,898,500		Langham Hospitality Investments Ltd		2,086
	64,574		Lar Espana Real Estate Socimi S.A.		628
	219,768		LaSalle Hotel Properties		6,378
	3,637	*	LaSalle Logiport REIT		3,546
	74,262		LEG Immobilien AG.		7,520
	365,018		Lend Lease Corp Ltd		5,143
	492,611		Leopalace21 Corp		3,433
	415,406		Lexington Realty Trust		4,245
	271,858		Liberty Property Trust		11,162
	97,174		Life Storage, Inc		7,950
	557,997		Link REIT		4,538
	4,127,300		Lippo-Mapletree Indonesia Retail Trust		1,308

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	304,000	e	Liu Chong Hing Investment	$	510
	8,186,000	e	Logan Property Holdings Co Ltd		8,468
	515,471		London & Stamford Property plc		1,148
	7,511,178		Longfor Properties Co Ltd		18,990
	4,558,300		LPN Development PCL (Foreign)		1,697
	263,120	*	LPS Brasil Consultoria de Imoveis S.A.		588
	189,469		LSR Group (GDR)		557
	110,821		LTC Properties, Inc		5,206
	136,555		Macerich Co		7,506
	264,037		Mack-Cali Realty Corp		6,260
	210,046		Macquarie CountryWide Trust		651
	1,272,971		Macquarie Goodman Group		8,242
	917,390		Macquarie MEAG Prime REIT		515
	8,433	e	Magnolia Bostad AB		85
	1,644,176		Mah Sing Group BHD		580
	437,000	e	Manulife US Real Estate Investment Trust		400
	35,779	*,†,e,m	Mapeley Ltd		0	^
	1,158,482		Mapletree Commercial Trust		1,298
	4,272,000		Mapletree Greater China Commercial Trust		3,642
	776,999		Mapletree Industrial Trust		1,074
	4,303,773		Mapletree Logistics Trust		3,939
	39,528	*	Marcus & Millichap, Inc		1,067
	900,092		Matrix Concepts Holdings BHD		460
	29,673	*	Maui Land & Pineapple Co, Inc		414
	54,343	*	Mazaya Qatar Real Estate Development Q.S.C		149
	143,136		MedEquities Realty Trust, Inc		1,682
	938,410		Medical Properties Trust, Inc		12,321
	2,114,804		Medinet Nasr Housing		1,199
	122,668,209		Megaworld Corp		12,645
	36,085		Melisron Ltd		1,748
	32,275		Mercialys S.A		645
	862,034		Merlin Properties Socimi S.A.		11,951
	2,304,300		Mexico Real Estate Management S.A. de C.V.		3,051
	1,568,067	e	MGM Growth Properties LLC		47,371
	873		MID Reit, Inc		2,661
	365,542		Mid-America Apartment Communities, Inc		39,069
	970,929	*	Midland Holdings Ltd		272
	944,000		Minmetals Land Ltd		147
	1,972,263		Mirvac Group		3,548
	859,981		Mitsubishi Estate Co Ltd		14,946
	1,172,483		Mitsui Fudosan Co Ltd		25,423
	150		Mitsui Fudosan Logistics Park, Inc		437
	248,020		MKH BHD		129
	10,975		Mobimo Holding AG.		2,964
	561,245		Monmouth Real Estate Investment Corp (Class A)		9,087
	15,447		Morguard Real Estate Investment Trust		176
	1,101		Mori Hills REIT Investment Corp		1,320
	213		Mori Trust Hotel Reit, Inc		276
	809		Mori Trust Sogo Reit, Inc		1,211
	77,343		Multiplan Empreendimentos Imobiliarios S.A.		1,791
	87,773		National Health Investors, Inc		6,784
	145,908		National Retail Properties, Inc		6,079
	428,175		National Storage Affiliates Trust		10,379
	975,560	e	National Storage REIT		1,145
	934,000		Neo-China Land Group Holdings Ltd		206
	370,170		NEPI Rockcastle plc		5,028

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	160,247		New Senior Investment Group, Inc	$	1,466
	7,416,496		New World Development Co Ltd		10,701
	557,832		NewRiver REIT plc		2,532
	284,694		Nexity		17,397
	77,505		NexPoint Residential Trust, Inc		1,839
	277		Nippon Accommodations Fund, Inc		1,076
	490		Nippon Building Fund, Inc		2,443
	900	*,e	Nippon Healthcare Investment Corp		1,316
	1,061		Nippon ProLogis REIT, Inc		2,236
	3,022	*	NIPPON REIT Investment Corp		8,694
	413,089		Nomura Real Estate Holdings, Inc		8,812
	4,926		Nomura Real Estate Master Fund, Inc		6,405
	106,217		NorthStar Realty Europe Corp		1,361
	103,011		Northview Apartment Real Estate Investment Trust		1,853
	231,554		NorthWest Healthcare Properties Real Estate Investment Trust		2,103
	97,057	e	Norwegian Property ASA		123
	10,613		NSI NV		418
	562,000		NTT Urban Development Corp		5,596
	87,835		Oberoi Realty Ltd		570
	302,542	e	Omega Healthcare Investors, Inc		9,654
	49,861		One Liberty Properties, Inc		1,215
	86,900		Open House Co Ltd		3,036
	3,928		Orix JREIT, Inc		5,641
	626,000		OUE Hospitality Trust		365
	662,196		Outfront Media, Inc		16,674
	886,941		Palm Hills Developments SAE		163
	435,715		Paramount Group, Inc		6,971
	300,535		Park Hotels & Resorts, Inc		8,283
	722,900		Parkway Life Real Estate Investment Trust		1,439
	81,823		Parkway, Inc		1,884
	1,103,114		Parque Arauco S.A.		3,017
	28,728	*	Patrizia Immobilien AG.		600
	641,800		Pavilion Real Estate Investment Trust		266
	132,248	e	Pebblebrook Hotel Trust		4,779
	209,298	e	Pennsylvania REIT		2,196
	940,185		Phoenix Mills Ltd		7,206
	902,186		Physicians Realty Trust		15,996
	371,089		Piedmont Office Realty Trust, Inc		7,481
	1,283,600		PLA Administradora Industrial S de RL de C.V.		2,213
	117,000		Platinum Group PCL		32
	1,298,817	*	Poly Hong Kong Investment Ltd		668
	6,766,160		Polytec Asset Holdings Ltd		537
	115,050		Potlatch Corp		5,868
	7,878,000	e	Powerlong Real Estate Holdings Ltd		4,022
	13,686,562		PP Properti Tbk PT		209
	1,230,650		Precinct Properties New Zealand Ltd		1,134
	428,734		Preferred Apartment Communities, Inc		8,094
	903		Premier Investment Co		858
	73,583	*	Prestige Estates Projects Ltd		308
	639,444	e	Primary Health Properties plc		1,047
	783,826		Prince Housing & Development Corp		291
	1,405,600		ProLogis Property Mexico S.A. de C.V.		2,793
	1,684,789		Prologis, Inc		106,917
	823,000		Prosperity REIT		348
	56,640		PS Business Parks, Inc		7,561

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,631		PSP Swiss Property AG.	$	2,823
	4,997,900		PT Alam Sutera Realty Tbk		140
	7,815,847		PT Bumi Serpong Damai		1,028
	21,163,729		PT Ciputra Development Tbk		1,878
	39,498,000	*	PT Hanson International Tbk		367
	3,558,000		PT Intiland Development Tbk		109
	109,817,683		PT Kawasan Industri Jababeka Tbk		2,495
	107,447,648		PT Lippo Karawaci Tbk		5,784
	4,442,100		PT Modernland Realty Tbk		96
	21,371,900		PT Pakuwon Jati Tbk		970
	9,071,700		PT Summarecon Agung Tbk		718
	265,024		Public Storage, Inc		56,712
	4,368,340	*	Puravankara Projects Ltd		4,869
	914,367		Pure Industrial Real Estate Trust		4,661
	265,934	*,e	Purplebricks Group plc		1,381
	275,384		QTS Realty Trust, Inc		14,419
	204,565	*	Quality Care Properties, Inc		3,171
	15,109,422		Quality House PCL		1,251
	467,433	*	Radium Life Tech Co Ltd		202
	957,318		RAK Properties PJSC		180
	278,443		Ramco-Gershenson Properties		3,623
	297,844		Rayonier, Inc		8,605
	33,530		Re/Max Holdings, Inc		2,131
	147,817	*	Realia Business S.A.		192
	357,068		Realogy Holdings Corp		11,765
	211,612		Realty Income Corp		12,102
	1,116,957		Rebosis Property Fund Ltd		912
	838,792		Redefine International plc		427
	4,625,476		Redefine Properties Ltd		3,652
	93,399	*,e	Redfin Corp		2,343
	26,843,000		Regal Real Estate Investment Trust		8,013
	552,019		Regency Centers Corp		34,247
	412,818		Reit  Ltd		1,603
	102,500		Relo Holdings, Inc		2,345
	9,795,250	*,e	Renhe Commercial Holdings Co Ltd		226
	243,817		Resilient REIT Ltd		2,397
	552,249		Retail Opportunities Investment Corp		10,498
	530,627		Retail Properties of America, Inc		6,967
	783,712		Rexford Industrial Realty, Inc		22,430
	233,045		RioCan Real Estate Investment Trust		4,469
	683,977		RLJ Lodging Trust		15,047
	62,373		RMR Group, Inc		3,203
	1,610,000		Road King Infrastructure		2,601
	1,350,100		Robinsons Land Corp		673
	268,000	*,e	Ronshine China Holdings Ltd		309
	945,090	*	Ruentex Development Co Ltd		868
	85,496		Ryman Hospitality Properties		5,343
	6,467,795		S.A. Corporate Real Estate Fund Nominees Pty Ltd		2,336
	2,059,473		Sabana Shari’ah Compliant Industrial REIT		706
	543,877		Sabra Healthcare REIT, Inc		11,933
	602,355		Safestore Holdings plc		3,527
	36,865	e	Safety Income and Growth, Inc		687
	900		Samty Residential Investment Corp		686
	4,964,277		Sansiri PCL		339
	38,378		Saul Centers, Inc		2,376
	271,936		Savills plc		3,394

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	273,046	*	SBA Communications Corp	$	39,332
	3,918,200		SC Asset Corp PCL		402
	10,174,279		Scentre Group		31,407
	791,997		Schroder Real Estate Investment Trust Ltd		653
	641,527		Segro plc		4,612
	557	*	Sekisui House Reit, Inc		643
	668	*	Sekisui House SI Residential Investment Corp		654
	124,841		Select Income REIT		2,924
	113,131		Selvaag Bolig ASA		483
	242,055		Senior Housing Properties Trust		4,732
	48,031	e	Seritage Growth Properties		2,213
	358,786		Shaftesbury plc		4,885
	311,800		Shanghai Erfangji Co Ltd		185
	1,215,487		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,934
	3,888,000	*	Shanghai Real Estate Ltd		101
	54,000	*	Shenzhen International Enterprise Co Ltd		33
	6,642,450		Shenzhen Investment Ltd		3,017
	132,300		Shenzhen SEG Co Ltd		70
	5,174,761		Shimao Property Holdings Ltd		11,285
	271,858	*	Shining Building Business Co Ltd		90
	179,334		Shoei Co Ltd		1,758
	2,474,995		Shopping Centres Australasia Property Group		4,451
	18,802,500		Shui On Land Ltd		4,848
	1,100	*,e	SIA Reit, Inc		2,124
	860,955		Simon Property Group, Inc		138,622
	1,518,500	*	Singha Estate PCL		181
	1,620,351		Sino Land Co		2,857
	1,316,000	*,e	Sinolink Worldwide Holdings Ltd		214
	19,224,581		Sino-Ocean Land Holdings Ltd		12,869
	163,891		Sinyi Realty Co		175
	1,110,980	*	Six of October Development & Investment		916
	3,095		SK D&D Co Ltd		76
	432,650		SL Green Realty Corp		43,836
	8,194,990		SM Prime Holdings		5,563
	57,441		Smart Real Estate Investment Trust		1,355
	878,424		Sobha Developers Ltd		5,235
	2,796,135		Soho China Ltd		1,605
	1,474,800		Soilbuild Business Space REIT		761
	54,000		Sonae Sierra Brasil S.A.		488
	132,396		Sparkassen Immobilien AG.		2,343
	1,302,243		SPH REIT		960
	2,671,234		Spirit Realty Capital, Inc		22,892
	581,000	e	Spring Real Estate Investment Trust		259
	362,003		ST Modwen Properties plc		1,813
	90,223	*	St. Joe Co		1,701
	344,407		STAG Industrial, Inc		9,461
	394,887		Standard Life Investment Property Income Trust Ltd		485
	5,901	e	Star Asia Investment Corp		5,354
	2,200	*,e	Starts Proceed Investment Corp		3,014
	704,097		Starwood Waypoint Homes		25,608
	4,165,382		Stockland Trust Group		14,067
	463,940		STORE Capital Corp		11,538
	12,198		Stratus Properties, Inc		370
	269,377		Sumitomo Realty & Development Co Ltd		8,150

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	322,275		Summit Hotel Properties, Inc	$	5,153
	413,014		Sun Communities, Inc		35,387
	63,800		Sun Frontier Fudousan Co Ltd		690
	2,134,834		Sun Hung Kai Properties Ltd		34,777
	2,031,522	e	Sunac China Holdings Ltd		9,330
	1,260,000	*,e	Suncity Group Holdings Ltd		71
	1,439,000		Sunlight Real Estate Investment Trust		933
	865,030		Sunstone Hotel Investors, Inc		13,901
	2,008,300		Suntec Real Estate Investment Trust		2,766
	455,226	*,m	Sunway Bhd		0
	3,530,450		Sunway BHD		1,540
	1,065,600		Sunway Real Estate Investment		434
	370,000		Supalai PCL		257
	756,193		Swire Pacific Ltd (Class A)		7,362
	5,211,226		Swire Properties Ltd		17,698
	64,338		Swiss Prime Site AG.		5,784
	411,122		TAG Tegernsee Immobilien und Beteiligungs AG.		6,916
	549,814		Taiwan Land Development Corp		186
	489,500		Takara Leben Co Ltd		2,394
	1,477	*	Takara Leben Infrastructure Fu		1,277
	614,734		Talaat Moustafa Group		319
	258,556	e	Tanger Factory Outlet Centers, Inc		6,314
	244,527		Taubman Centers, Inc		12,153
	168,718		Technopolis plc		784
	29,174	*	Tejon Ranch Co		616
	273,636		Terreno Realty Corp		9,900
	218,000		Tian Shan Development Holding Ltd		91
	80		Ticon Industrial Connection PCL (Foreign)		0	^
	105,206		Tier REIT, Inc		2,030
	170,385		TLG Immobilien AG.		3,932
	115,000		TOC Co Ltd		1,012
	390,700		Tokyo Tatemono Co Ltd		4,998
	305,967		Tokyu Fudosan Holdings Corp		1,847
	2,416		Tokyu REIT, Inc		2,944
	1,444,800		Tosei Corp		12,695
	2,400	*	Tosei Reit Investment Corp		2,338
	2,843	*,e	Transcontinental Realty Investors, Inc		77
	83,011		Tricon Capital Group, Inc		674
	43,235	*,e	Trinity Place Holdings, Inc		303
	844,393		Tritax Big Box REIT plc		1,611
	476,119		Tropicana Corp BHD		106
	207,531,700	*	U City PCL		187
	251,177		UDR, Inc		9,552
	542,000		UEM Land Holdings BHD		147
	84,679		UMH Properties, Inc		1,317
	97,441		Unibail-Rodamco		23,712
	627,366		Unite Group plc		5,780
	26,897,005	*	Unitech Ltd		2,848
	127,684		United Development Co PSC		521
	678		United Urban Investment Corp		993
	409,014	e	Uniti Group, Inc		5,996
	19,800		Univentures PCL		6
	24,176		Universal Health Realty Income Trust		1,825
	29,500		Unizo Holdings Co Ltd		684
	967,248		UOA Development BHD		593
	125,715		UOL Group Ltd		755

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	186,441		Urban Edge Properties	$	4,497
	80,133		Urstadt Biddle Properties, Inc (Class A)		1,739
	55,529		Vastned Retail NV		2,474
	756,246		Ventas, Inc		49,254
	745,007		VEREIT, Inc		6,176
	6,808,140		Vicinity Centres		14,220
	123,145		Victoria Park AB		469
	11,908,900		Vista Land & Lifescapes, Inc		1,492
	296,791		Viva Energy REIT		492
	369,635		Vornado Realty Trust		28,418
	1,869,912		Vukile Property Fund Ltd		2,731
	136,882	e	Wallenstam AB		1,364
	32,922		Warehouses De Pauw SCA		3,716
	594,822		Washington Prime Group, Inc		4,955
	149,519		Washington REIT		4,898
	350,004		Watkin Jones plc		1,027
	122,206		Weingarten Realty Investors		3,879
	824,307		Welltower, Inc		57,932
	28,883		Wereldhave NV		1,363
	1,855,789		Westfield Corp		11,426
	1,576,274		Weyerhaeuser Co		53,641
	3,687,635		WHA Corp PCL		394
	2,202,332		Wharf Holdings Ltd		19,702
	916,591		Wheelock & Co Ltd		6,470
	73,772	e	Whitestone REIT		963
	211,999		Wihlborgs Fastigheter AB		5,190
	235,340		Wing Tai Holdings Ltd		375
	214,811		Workspace Group plc		2,555
	92,995		WP Carey, Inc		6,267
	28,198		WPT Industrial Real Estate Investment Trust		377
	306,093		Xenia Hotels & Resorts, Inc		6,443
	54,700		Xinyuan Real Estate Co Ltd (ADR)		311
	2,983,418		Yanlord Land Group Ltd		4,076
	744,966	e	Yoma Strategic Holdings Ltd		322
	650,100		YTL Hospitality REIT		185
	811,000		Yuexiu Real Estate Investment Trust		511
	54,702,912		Yuexiul Property Co Ltd		11,175
	5,234,120		Yuzhou Properties Co		2,833
			TOTAL REAL ESTATE		4,386,939
RETAILING - 3.7%
	123,481	*	1-800-FLOWERS.COM, Inc (Class A)		1,216
	147,479		Aaron’s, Inc		6,434
	33,239		ABC-Mart, Inc		1,756
	126,444	e	Abercrombie & Fitch Co (Class A)		1,826
	95,700		Adastria Holdings Co Ltd		2,162
	112,389		Advance Auto Parts, Inc		11,149
	51,500		Alpen Co Ltd		1,003
	1,219,652	*	Amazon.com, Inc		1,172,513
	388,591		American Eagle Outfitters, Inc		5,557
	14,202	*	America’s Car-Mart, Inc		584
	163,598	*,e	AO World plc		244
	20,500		AOKI Holdings, Inc		269
	27,441		Aoyama Trading Co Ltd		982
	90,500		Arc Land Sakamoto Co Ltd		1,364
	7,600		Asahi Co Ltd		90

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,244	*	Asbury Automotive Group, Inc	$	2,153
	25,400		ASKUL Corp		716
	169,610	*	ASOS plc		13,548
	9,769	*,e	At Home Group, Inc		223
	44,088		Autobacs Seven Co Ltd		715
	13,798		AutoCanada, Inc		263
	138,341	e	Automotive Holdings Group Ltd		361
	160,903	*,e	Autonation, Inc		7,636
	48,885	*	AutoZone, Inc		29,092
	5,492,875		B&M European Value Retail S.A.		28,535
	124,607	*	B2W Companhia Global Do Varejo		832
	318,345	*	Barnes & Noble Education, Inc		2,072
	431,938		Barnes & Noble, Inc		3,283
	1,428,000		Beauty Community PCL (Foreign)		685
	267,748		Bed Bath & Beyond, Inc		6,284
	31,000		Belluna Co Ltd		327
	1,253,360		Berjaya Auto BHD		626
	547,593		Best Buy Co, Inc		31,191
	56,100		BIC CAMERA, Inc		624
	41,934	e	Big 5 Sporting Goods Corp		321
	1,314,800		Big Camera Corp PCL		136
	215,219	e	Big Lots, Inc		11,529
	279,253		Bilia AB		3,086
	1,439,911	*	boohoo.com plc		4,081
	27,173	*,e	Boot Barn Holdings, Inc		242
	537,000	*,†,e,m	Boshiwa International Holding		1
	60,178	e	Buckle, Inc		1,014
	28,034	*	Build-A-Bear Workshop, Inc		256
	304,599	*	Burlington Stores, Inc		29,077
	163,894		Burson Group Ltd		675
	34,847		Byggmax Group AB		294
	200,949		Caleres, Inc		6,133
	42,535		Camping World Holdings, Inc		1,733
	48,974		Canadian Tire Corp Ltd		6,097
	149,800		Canon Marketing Japan, Inc		3,583
	529,351		Card Factory plc		2,185
	825,466	*,e	Carmax, Inc		62,579
	83,306	*,e	Carvana Co		1,223
	12,428		Cashbuild Ltd		353
	53,542		Cato Corp (Class A)		708
	425,067		Chico’s FAS, Inc		3,804
	33,256	e	Children’s Place Retail Stores, Inc		3,929
	307,000	e	China Animation Characters Co Ltd		119
	2,352,000	*,e	China Beidahuang Industry Group Holdings Ltd		116
	506,000		China Harmony New Energy Auto Holding Ltd		295
	4,001,500		China ZhengTong Auto Services Holdings Ltd		4,360
	11,300		Chiyoda Co Ltd		283
	16,400		Chori Co Ltd		305
	183,000		Chow Sang Sang Holding		419
	94,700		Cia Hering		851
	130,072		Citi Trends, Inc		2,585
	2,024		CJ O Shopping Co Ltd		350
	25,641		Clas Ohlson AB (B Shares)		475
	388,000	e,g	Cogobuy Group		239
	217,800		Com7 PCL		89
	34,223	*,e	Conn’s, Inc		963

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	206,781	*,e	Container Store Group, Inc	$	871
	144,958		Core-Mark Holding Co, Inc		4,659
	747,529	*	Ctrip.com International Ltd (ADR)		39,425
	568,000		Dah Chong Hong Holdings Ltd		281
	350,500		DCM Japan Holdings Co Ltd		3,165
	2,320,757		Debenhams plc		1,539
	92,422		Delek Automotive Systems Ltd		691
	1,852,904		Dick’s Sporting Goods, Inc		50,047
	492,286		Dickson Concepts International Ltd		195
	20,078		Dieteren S.A.		922
	30,331	e	Dillard’s, Inc (Class A)		1,701
	516,141		Dollar General Corp		41,833
	532,476	*	Dollar Tree, Inc		46,230
	310,042		Dollarama, Inc		33,925
	79,700		Don Quijote Co Ltd		2,979
	11,900		Doshisha Co Ltd		267
	298,705		DSW, Inc (Class A)		6,416
	25,440	*	Dufry Group		4,044
	17,571	*,e	Duluth Holdings, Inc		357
	61,746		Dunelm Group plc		585
	95,043	g	Dustin Group AB		802
	140,183	e	EDION Corp		1,315
	192,836	e	El Puerto de Liverpool SAB de C.V.		1,557
	10,386,213	*	Empresas La Polar S.A.		1,208
	1,080,100	*	Esprit Holdings Ltd		604
	97,697	g	Europris ASA		470
	575,729		Expedia, Inc		82,870
	431,072	*	Express Parent LLC		2,914
	476,000		Far Eastern Department Stores Co Ltd		240
	35,575		Fast Retailing Co Ltd		10,493
	27,161	*	FF Group		590
	184,834		Finish Line, Inc (Class A)		2,224
	205,408	*	Five Below, Inc		11,273
	38,011	*,e	Floor & Decor Holdings, Inc		1,480
	258,272		Foot Locker, Inc		9,096
	193,530		Foschini Ltd		1,940
	219,029	*	Francesca’s Holdings Corp		1,612
	65,659	e	Fred’s, Inc (Class A)		423
	46,766	*	FTD Cos, Inc		610
	10,000		Fuji Co Ltd		257
	216,718	*	Future Enterprises Ltd		1,752
	29,870		Future Lifestyle Fashions Ltd		154
	17,795	*	Gaia, Inc		214
	246,807	e	GameStop Corp (Class A)		5,099
	1,072,534		Gap, Inc		31,672
	38,795	*	Genesco, Inc		1,032
	305,180		Genuine Parts Co		29,190
	50,600	e	Geo Holdings Corp		732
	2,348,000		Giordano International Ltd		1,410
	128,840	e	GNC Holdings, Inc		1,139
	224,799	e	Golden Eagle Retail Group Ltd		266
	12,678,844	e	GOME Electrical Appliances Holdings Ltd		1,432
	60,535		Greencross Ltd		252
	39,546		Group 1 Automotive, Inc		2,865
	12,591	*	Groupe Fnac		1,212
	2,587,748	*,e	Groupon, Inc		13,456

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,166		GS Home Shopping, Inc	$	1,929
	113,730		Guess?, Inc		1,937
	37,900	e	Gulliver International Co Ltd		234
	33		GwangjuShinsegae Co Ltd		7
	446,318		Halfords Group plc		2,096
	294,825	e	Hankyu Department Stores, Inc		5,259
	1,298,829	e	Harvey Norman Holdings Ltd		3,962
	34,068		Haverty Furniture Cos, Inc		891
	5,855,037		Hengdeli Holdings Ltd		319
	560,360		Hennes & Mauritz AB (B Shares)		14,556
	40,888	*,e	Hibbett Sports, Inc		583
	25,000		Hikari Tsushin, Inc		3,136
	4,748,937	n	Home Depot, Inc		776,736
	4,507,894		Home Product Center PCL (Foreign)		1,622
	6,638		Hornbach Baumarkt AG.		253
	163,329	g	Hostelworld Group PLC		786
	268,518		Hotai Motor Co Ltd		3,101
	33,737		Hotel Shilla Co Ltd		1,716
	183,400		HSN, Inc		7,162
	43,495	e	Hudson’s Bay Co		443
	14,450		Hyundai Department Store Co Ltd		1,116
	3,934		Hyundai Home Shopping Network Corp		416
	130,626		Imperial Holdings Ltd		1,846
	974,572		Inchcape plc		11,272
	1,716,789		Industria De Diseno Textil S.A.		64,723
	91,191	*	Infibeam Incorporation Ltd		180
	107,435		Interpark Corp		400
	8,748		Interpark INT Corp		70
	226,628	e	Isetan Mitsukoshi Holdings Ltd		2,368
	148,000		IT Ltd		80
	22,200		Izumi Co Ltd		1,140
	447,919		J Front Retailing Co Ltd		6,193
	23,088	*,e	J. Jill, Inc		251
	89,560		Jardine Cycle & Carriage Ltd		2,606
	352,222	e	JB Hi-Fi Ltd		6,347
	2,647,705	*,e	JC Penney Co, Inc		10,088
	1,144,901		JD Sports Fashion plc		5,740
	1,344,396	*	JD.com, Inc (ADR)		51,356
	8,200	e	Jin Co Ltd		513
	96,256		John Menzies plc		928
	11,000		Joshin Denki Co Ltd		374
	16,800		Joyful Honda Co Ltd		446
	243,964		JUMBO S.A.		4,034
	38,400	*,e	Jumei International Holding Ltd (ADR)		111
	165,564		KappAhl Holding AB		1,043
	21,387	e	Keiyo Co Ltd		146
	258,106		Kering		102,821
	439,303		Kingfisher plc		1,759
	5,000	*	Kintetsu Department Store Co Ltd		155
	68,764	*	Kirkland’s, Inc		786
	50,000	e	Kogan.com Ltd		151
	278,573	e	Kohl’s Corp		12,717
	17,700		Kohnan Shoji Co Ltd		333
	10,466		Kolao Holdings		46
	86,500		Komeri Co Ltd		2,492
	238,800	e	K’s Holdings Corp		5,289

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	492,345		L Brands, Inc	$	20,486
	24,741	*,e	Lands’ End, Inc		327
	11,900	*,e	Laox Co Ltd		53
	238,348	e	Lewis Group Ltd		527
	4,107,119		Li & Fung Ltd		2,065
	163,728	*	Liberty Expedia Holdings, Inc		8,696
	1,860,501	*	Liberty Interactive Corp		43,852
	340,944	*	Liberty TripAdvisor Holdings, Inc		4,211
	168,656	*	Liberty Ventures		9,706
	568,000	*	Lifestyle China Group Ltd		200
	45,154		Lithia Motors, Inc (Class A)		5,432
	661,281	*	LKQ Corp		23,799
	99,524		Lojas Americanas S.A.		494
	595,394		Lojas Americanas S.A.(Preference)		3,619
	643,689		Lojas Renner S.A.		7,329
	546,867		Lookers plc		878
	36,733		LOTTE Himart Co Ltd		2,110
	12,812	m	Lotte Shopping Co Ltd		2,771
	2,202,659		Lowe’s Companies, Inc		176,081
	843,000		Luk Fook Holdings International Ltd		3,405
	53,949	*,e	Lumber Liquidators, Inc		2,103
	530,984		Macy’s, Inc		11,586
	33,400		Magazine Luiza S.A.		783
	41,110	g	Maisons du Monde S.A.		1,807
	724,000	e	Maoye International Holdings Ltd		80
	49,840	*	MarineMax, Inc		825
	45,590	*	Marisa Lojas S.A.		135
	5,234,725		Marks & Spencer Group plc		24,785
	453,323	e	Marui Co Ltd		6,489
	90,191		Matas A.S.		1,321
	17,800	e	Matsuya Co Ltd		158
	13,942	e	Mekonomen AB		316
	112,547		Metro AG.		1,325
	148,169		Michael Hill International Ltd		127
	325,986	*	Michaels Cos, Inc		6,999
	15,557		Mobilezone Holding AG.		196
	29,000		momo.com, Inc		208
	60,241	e	Monro Muffler, Inc		3,376
	249,462		Mr Price Group Ltd		3,318
	83,009	*	Murphy USA, Inc		5,728
	471,206	e	Myer Holdings Ltd		287
	513,899		N Brown Group plc		2,418
	1,151,583	*	NetFlix, Inc		208,840
	1,363,067		New Carphone Warehouse plc		3,534
	63,052		Next plc		4,445
	30,500		Nishimatsuya Chain Co Ltd		341
	76,712		Nitori Co Ltd		10,971
	82,100		Nojima Corp		1,664
	235,598	e	Nordstrom, Inc		11,108
	42,006		NS Shopping Co Ltd		551
	115,161		Nutri/System, Inc		6,437
	332,368	*,e	Ocado Ltd		1,303
	1,828,179		Office Depot, Inc		8,300
	90,940	*	Ollie’s Bargain Outlet Holdings, Inc		4,220
	178,493	g	On the Beach Group plc		945
	117,628	*	O’Reilly Automotive, Inc		25,334

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	79,180	*	Overstock.com, Inc	$	2,352
	1,168,300		Padini Holdings BHD		1,259
	5,600	e	Pal Co Ltd		174
	82,600		Paltac Corp		3,224
	66,801	e	Parco Co Ltd		819
	792,500	e	Parkson Retail Group Ltd		134
	52,581	*	Party City Holdco, Inc		712
	19,600	e	PC Depot Corp		150
	187,630		PC Jeweller Ltd		952
	2,700,809		Pendragon plc		1,158
	81,007		Penske Auto Group, Inc		3,853
	129,072	e	PetMed Express, Inc		4,279
	217,726		Pets at Home Group plc		624
	137,741		Pier 1 Imports, Inc		577
	5,944,500	e	Pou Sheng International Holdings Ltd		1,090
	576,000	*,e	Powerwell Pacific Holdings Ltd		240
	36,701		Poya Co Ltd		439
	57,240		Premier Investments Ltd		586
	122,808	*	Priceline.com, Inc		224,839
	5,060,100		PT ACE Hardware Indonesia Tbk		456
	4,536,023		PT Matahari Department Store Tbk		3,125
	1,170,900		PT Mitra Adiperkasa Tbk		609
	8,228,900		PT Ramayana Lestari Sentosa Tbk		551
	455,200		PTG Energy PCL		312
	1,095,623		Rakuten, Inc		11,962
	1,724,835	e	RCG Corp Ltd		1,036
	80,876	e	Rent-A-Center, Inc		928
	146,580	*,e	RH		10,307
	8,200	e	Right On Co Ltd		69
	1,505,196		Ripley Corp S.A.		1,434
	353,500		Robinson PCL		685
	751,825		Ross Stores, Inc		48,545
	16,800		Ryohin Keikaku Co Ltd		4,952
	650,443	e	SA SA International Holdings Ltd		254
	1,392,058		SACI Falabella		13,576
	180,913	*	Sally Beauty Holdings, Inc		3,542
	30,300	e	Sanrio Co Ltd		576
	108	*,e	Sears Holdings Corp		1
	307,444	*	Select Comfort Corp		9,546
	280,000		Senao International Co Ltd		477
	13,000	e	Senshukai Co Ltd		80
	12,022	e	Seobu Truck Terminal Co Ltd		138
	38,200		Seria Co Ltd		2,124
	32,100		Shimachu Co Ltd		844
	37,603		Shimamura Co Ltd		4,511
	7,395		Shinsegae Co Ltd		1,259
	1,907		Shinsegae International Co Ltd		96
	81,988		Shoe Carnival, Inc		1,835
	3,386		Shopper’s Stop Ltd		25
	80,908	*	Shutterfly, Inc		3,922
	1,005,868		Siam Global House PCL		486
	1,063,000		Sichuan Xinhua Winshare Chainstore Co Ltd		873
	141,197	e	Signet Jewelers Ltd		9,397
	65,958	g	Sleep Country Canada Holdings, Inc		1,907
	49,974		Sonic Automotive, Inc (Class A)		1,019
	1,054,211	*,e	Sports Direct International plc		5,797

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	68,540	*,e	Sportsman’s Warehouse Holdings, Inc	$	309
	9,512	*,e,g	SRP Groupe S.A.		194
	334,216		Start Today Co Ltd		10,591
	22,383	*	Stockmann Oyj Abp (B Share)		159
	608,639		Super Cheap Auto Group Ltd		3,860
	220,520	*	Super Group Ltd		700
	32,661		SuperGroup plc		744
	40,000	e	Syuppin Co Ltd		903
	94,595	e	Tailored Brands, Inc		1,366
	209,819		Takashimaya Co Ltd		1,965
	58,216		Takkt AG.		1,335
	1,268,455		Target Corp		74,852
	57,500		Telepark Corp		1,118
	7,363,099		Test-Rite International Co		5,442
	329,376		Tiffany & Co		30,230
	63,604		Tile Shop Holdings, Inc		808
	349,514		Tilly’s, Inc		4,191
	1,889,287		TJX Companies, Inc		139,297
	108,200		Tokmanni Group Corp		914
	9,100	e	Tokyo Derica Co Ltd		118
	215,425		Tractor Supply Co		13,634
	510,144		Trade Me Ltd		1,686
	260,214	*,e	TripAdvisor, Inc		10,546
	598,119	e	Truworths International Ltd		3,413
	154,499	*	Ulta Beauty, Inc		34,926
	24,459		Uni-Select, Inc		528
	16,699		United Arrows Ltd		607
	153,739	*	Urban Outfitters, Inc		3,674
	147,186		USS Co Ltd		2,971
	1,679		Valora Holding AG.		588
	5,796,503		Via Varejo S.A.		42,296
	587,856	*	Vipshop Holdings Ltd (ADR)		5,167
	1,493,330		Vita Group Ltd		1,994
	34,920	*	Vitamin Shoppe, Inc		187
	107,100		VT Holdings Co Ltd		613
	129,237	*,e	Wayfair, Inc		8,711
	178,564		Webjet Ltd		1,513
	303,027		WH Smith plc		8,206
	203,960	e	Williams-Sonoma, Inc		10,169
	4,372		Winmark Corp		576
	937,723		Woolworths Holdings Ltd		4,152
	77,400		Xebio Co Ltd		1,516
	59,876	g	XXL ASA		653
	771,985	e	Yamada Denki Co Ltd		4,221
	275,548	*,e	Yatra Online, Inc		2,984
	65,500		Yellow Hat Ltd		1,858
	80,903	*,e	Yoox S.p.A		3,175
	132,178	*,e,g	Zalando SE		6,634
	306,523		Zhongsheng Group Holdings Ltd		666
	3,887	*,e	zooplus AG.		655
	137,634	*	Zumiez, Inc		2,491
			TOTAL RETAILING		4,615,081
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.6%
	34,935	*,e	Acacia Communications, Inc		1,645
	653,615		A-DATA Technology Co Ltd		1,782

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	163,477	*	Advanced Energy Industries, Inc	$	13,202
	7,255,360	*,e	Advanced Micro Devices, Inc		92,506
	7,834	*	Advanced Process Systems Corp		275
	8,178,707		Advanced Semiconductor Engineering, Inc		10,033
	756,428		Advanced Semiconductor Engineering, Inc (ADR)		4,675
	97,000		Advanced Wireless Semiconductor Co		166
	99,800	e	Advantest Corp		1,871
	928,330	*,e	Aixtron AG.		12,524
	209,682	*	Alpha & Omega Semiconductor Ltd		3,458
	62,672	*,e	Ambarella, Inc		3,072
	417,569	*	Amkor Technology, Inc		4,405
	93,138		ams AG.		6,763
	529,117		Analog Devices, Inc		45,594
	7,281,846		Applied Materials, Inc		379,311
	200,000	*	APS Holdings Corp		1,716
	198,738		Ardentec Corp		175
	29,629		ASM International NV		1,874
	582,504	e	ASM Pacific Technology		8,414
	16,884		ASMedia Technology, Inc		192
	532,861		ASML Holding NV		91,054
	15,000		ASPEED Technology, Inc		348
	22,944	*	Atto Co Ltd		152
	56,864	*	Axcelis Technologies, Inc		1,555
	74,691	*	AXT, Inc		683
	187,585		BE Semiconductor Industries NV		13,057
	1,783,658		Broadcom Ltd		432,609
	479,522		Brooks Automation, Inc		14,558
	106,212		Cabot Microelectronics Corp		8,490
	516,502	*,n	Cavium, Inc		34,058
	49,370	*	Ceva, Inc		2,113
	572,000	e	China Electronics Corp Holdings Co Ltd		105
	11,538	*,†,e,m	China Energy Savings Technology, Inc		0
	403,000		Chipbond Technology Corp		674
	469,000		ChipMOS Technologies, Inc		458
	245,026	*	Cirrus Logic, Inc		13,065
	101,001		Cohu, Inc		2,408
	189,364	*	Cree, Inc		5,338
	13,449	*,e	CyberOptics Corp		219
	889,206	e	Cypress Semiconductor Corp		13,356
	72,323		Dainippon Screen Manufacturing Co Ltd		5,024
	48,211	*	Dialog Semiconductor plc		2,134
	85,587	*	Diodes, Inc		2,562
	75,200		Disco Corp		15,326
	22,658	*	Dongbu HiTek Co Ltd		304
	48,382	*	DSP Group, Inc		629
	270,000		Elan Microelectronics Corp		374
	84,456		Elite Advanced Laser Corp		314
	176,000		Elite Semiconductor Memory Technology, Inc		234
	6,106		Elmos Semiconductor AG.		158
	47,571		eMemory Technology, Inc		610
	377,002	*	Entegris, Inc		10,876
	5,575		Eo Technics Co Ltd		404
	633,000	*	Epistar Corp		808
	304,167	*	E-Ton Solar Tech Co Ltd		98
	9,223		Eugene Technology Co Ltd		170
	282,000		Everlight Electronics Co Ltd		446

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	148,060		Faraday Technology Corp	$	206
	281,767	*	First Solar, Inc		12,927
	178,000		Forhouse Corp		141
	212,840	*	Formfactor, Inc		3,586
	259,000		Formosa Advanced Technologies Co Ltd		291
	11,641,308	e	GCL Poly Energy Holdings Ltd		1,601
	16,980	*	GemVax & Kael Co Ltd		161
	17,686		Giga Solar Materials Corp		140
	221,986	*	Gigastorage Corp		130
	330,454	*	Gintech Energy Corp		189
	57,000		Global Unichip Corp		363
	156,000		Globalwafers Co Ltd		1,528
	168,600		Globetronics Technology BHD		246
	892,000		Greatek Electronics, Inc		1,482
	28,016	*,e	GSI Technology, Inc		204
	8,313	*	G-SMATT GLOBAL Co Ltd		87
	1,079,300		Hana Microelectronics PCL (Foreign)		1,537
	18,878		Hanmi Semiconductor Co Ltd		146
	11,366	*	Hansol LCD, Inc		176
	327,412	e	Himax Technologies, Inc (ADR)		3,579
	146,000		Holtek Semiconductor, Inc		280
	779,000	g	Hua Hong Semiconductor Ltd		1,058
	812,943		Hynix Semiconductor, Inc		59,288
	14,121	*	Hyundai Robotics Co Ltd		5,273
	33,307	*	Ichor Holdings Ltd		893
	152,370	*	Imagination Technologies Group plc		343
	33,736	*,e	Impinj, Inc		1,404
	1,312,799		Infineon Technologies AG.		33,099
	81,621	*,e	Inphi Corp		3,240
	384,822	*	Integrated Device Technology, Inc		10,229
	9,426,827		Intel Corp		358,974
	366,451	*,e	IQE plc		613
	50,792		IXYS Corp		1,204
	327,500	*,e	JA Solar Holdings Co Ltd (ADR)		2,496
	12,500		Japan Material Co Ltd		330
	314,300	*,e	JinkoSolar Holding Co Ltd (ADR)		7,842
	23,562	*	Jusung Engineering Co Ltd		293
	83,043		KC Tech Co Ltd		1,755
	732,000		King Yuan Electronics Co Ltd		720
	181,000		Kinsus Interconnect Technology Corp		427
	618,124		Kla-Tencor Corp		65,521
	7,291		Koh Young Technology, Inc		427
	105,121	*,e	Kopin Corp		438
	8,899		L&F Co Ltd		276
	1,014,635		Lam Research Corp		187,748
	38,800		Land Mark Optoelectronics Corp		479
	41,975,000	*	Landing International Development		846
	24,600		Lasertec Corp		506
	237,842	*	Lattice Semiconductor Corp		1,239
	6,603		LEENO Industrial Inc		282
	239,726		Lextar Electronics Corp		140
	19,048		Lite-On Semiconductor Corp		23
	77,953	*,e	MA-COM Technology Solutions		3,477
	176,000		Malaysian Pacific Industries BHD		559
	2,670	*	Manz Automation AG.		121
	1,098,882		Marvell Technology Group Ltd		19,670

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	656,922		Maxim Integrated Products, Inc	$	31,342
	116,360	*	MaxLinear, Inc		2,764
	2,423,094		MediaTek, Inc		22,801
	144,600	e	Megachips Corp		4,752
	38,325		Melexis NV		3,711
	164,123	*	Mellanox Technologies Ltd		7,738
	375,777	*,e	Meyer Burger Technology AG.		524
	574,396		Microchip Technology, Inc		51,569
	3,590,783	*	Micron Technology, Inc		141,225
	17,600	e	Micronics Japan Co Ltd		162
	696,706	*	Microsemi Corp		35,866
	40,400		Mimasu Semiconductor Industry Co Ltd		651
	16,800		Mitsui High-Tec, Inc		349
	175,738		MKS Instruments, Inc		16,598
	156,187		Monolithic Power Systems, Inc		16,642
	275,118	*	Motech Industries, Inc		208
	148,430	*	Nanometrics, Inc		4,275
	6,880,000		Nanya Technology Corp		19,525
	74,900	*	NEC Electronics Corp		816
	450,324	*	Neo Solar Power Corp		231
	58,034	*,e	NeoPhotonics Corp Ltd		323
	75,207	*,e	Nordic Semiconductor ASA		416
	486,752		Novatek Microelectronics Corp Ltd		1,834
	3,000	e	Nuflare Technology, Inc		162
	8,850		NVE Corp		699
	2,131,857		NVIDIA Corp		381,112
	1,131,136	*	NXP Semiconductors NV		127,920
	1,431,119	*	ON Semiconductor Corp		26,433
	22,440		On-Bright Electronics, Inc		159
	524,000	*	Orient Semiconductor Electronics Ltd		158
	149,127		Orise Technology Co Ltd		177
	42,401		Parade Technologies Ltd		676
	53,043	*,e	PDF Solutions, Inc		822
	115,895		Phison Electronics Corp		1,378
	168,087	*	Photronics, Inc		1,488
	75,613		Pixart Imaging, Inc		293
	55,776	*,e	Pixelworks, Inc		263
	67,811		Power Integrations, Inc		4,964
	2,214,397		Powertech Technology, Inc		6,400
	251,008	*	Qorvo, Inc		17,741
	2,479,219		Qualcomm, Inc		128,523
	2,621,000		Radiant Opto-Electronics Corp		6,154
	297,618	*	Rambus, Inc		3,973
	395,333		Realtek Semiconductor Corp		1,366
	1,282,788	*,e	REC Silicon ASA		164
	466,091		Rohm Co Ltd		39,995
	251,096	*	Rudolph Technologies, Inc		6,604
	168,414		Samsung Electronics Co Ltd		378,969
	26,817		Samsung Electronics Co Ltd (Preference)		48,508
	67,000	*	Sanken Electric Co Ltd		369
	2,482,047	*,e	Semiconductor Manufacturing International Corp		2,808
	356,783	*	Semtech Corp		13,397
	24,285		Seoul Semiconductor Co Ltd		534
	166,000	*,e	Shanghai Fudan Microelectronics Group Co Ltd		120
	30,200		Shindengen Electric Manufacturing Co Ltd		1,935
	380,000	*,e	Shinkawa Ltd		2,728

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	426,600		Shinko Electric Industries	$	2,879
	25,000		ShunSin Technology Holding Ltd		82
	71,864	*	Sigma Designs, Inc		453
	127,000		Sigurd Microelectronics Corp		105
	38,934		Silergy Corp		894
	151,619	*	Silicon Laboratories, Inc		12,114
	407,485	e	Silicon Motion Technology Corp (ADR)		19,571
	46,954		Silicon Works Co Ltd		1,816
	1,740,807		Siliconware Precision Industries Co		2,785
	76,462	*	Siltronic AG.		9,509
	337,000		Sino-American Silicon Products, Inc		702
	560,000		Sitronix Technology Corp		1,628
	504,610		Skyworks Solutions, Inc		51,420
	50,870	e	SMA Solar Technology AG.		1,996
	33,603	*,e	SMART Global Holdings, Inc		900
	10,441	*,e	SOITEC		685
	1,389,424	e	STMicroelectronics NV		26,954
	44,386	*	STS Semiconductor & Telecommunications		95
	1,168,400		Sumco Corp		18,435
	113,364	*,e	SunPower Corp		826
	5,309,600		SVI PCL (Foreign)		805
	638,000		Taiwan Semiconductor Co Ltd		1,151
	41,126,296		Taiwan Semiconductor Manufacturing Co Ltd		294,565
	345,702		Taiwan Surface Mounting Technology Co Ltd		295
	535,506		Teradyne, Inc		19,969
	9,355		TES Co Ltd		262
	2,244,696		Texas Instruments, Inc		201,215
	3,291		Tokai Carbon Korea Co Ltd		142
	229,340		Tokyo Electron Ltd		35,307
	36,100		Tokyo Seimitsu Co Ltd		1,281
	525,511		Topco Scientific Co Ltd		1,285
	12,744		Toptec Co Ltd		313
	203,001	*	Tower Semiconductor Ltd		6,301
	1,746,000	*,†,m	Trony Solar Holdings Co Ltd.		2
	4,227		U-Blox AG.		835
	7,800		UKC Holdings Corp		135
	95,275	*	Ultra Clean Holdings		2,917
	78,000		Ulvac, Inc		4,916
	1,531,800		Unisem M BHD		1,369
	10,095,871		United Microelectronics Corp		5,058
	711,228		Vanguard International Semiconductor Corp		1,228
	90,002	*	Veeco Instruments, Inc		1,926
	264,405		Versum Materials, Inc		10,264
	126,068		Visual Photonics Epitaxy Co Ltd		251
	207,503		Win Semiconductors Corp		1,334
	1,721,000		Winbond Electronics Corp		1,503
	17,064	*	WONIK IPS Co Ltd		510
	96,639	*,e	Xcerra Corp		952
	664,891		Xilinx, Inc		47,094
	109,000		XinTec, Inc		171
	1,898,000	e	Xinyi Solar Holdings Ltd		678
	92,704		Xperi Corp		2,345
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		4,440,199
SOFTWARE & SERVICES - 11.2%
	48,600	*,e	21Vianet Group, Inc (ADR)		277

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	84,094	*,e	2U, Inc	$	4,713
	77,000	*	58.COM, Inc (ADR)		4,862
	241,861	*	8x8, Inc		3,265
	482,773	*	A10 Networks, Inc		3,650
	1,824,394		Accenture plc		246,421
	223,691	*	ACI Worldwide, Inc		5,096
	97,175	*,e	Aconex Ltd		305
	2,482,705		Activision Blizzard, Inc		160,159
	137,514	*	Actua Corp		2,104
	151,729	*	Acxiom Corp		3,739
	513		Addcn Technology Co Ltd		4
	1,194,262	*	Adobe Systems, Inc		178,160
	1,836,000	*,e	AGTech Holdings Ltd		371
	3,998		Ahnlab, Inc		162
	249,861	*	Akamai Technologies, Inc		12,173
	7,900	*,e	Akatsuki, Inc		620
	38,347	*	Alarm.com Holdings, Inc		1,733
	2,154,545	*	Alibaba Group Holding Ltd (ADR)		372,111
	123,018		Alliance Data Systems Corp		27,255
	249,787		Alpha Systems, Inc		5,127
	903,753	*	Alphabet, Inc (Class A)		880,002
	1,073,604	*	Alphabet, Inc (Class C)		1,029,704
	21,474		Alten		1,942
	17,661	*,e	Alteryx, Inc		360
	79,592		Altium Ltd		676
	296,735		Altran Technologies S.A.		5,459
	599,412		Amadeus IT Holding S.A.		38,985
	42,076	*	Amber Road, Inc		323
	596,306		Amdocs Ltd		38,354
	57,019	*	American Software, Inc (Class A)		648
	109,091	*	Ansys, Inc		13,389
	61,645	*	Appfolio, Inc		2,956
	52,920	*	Apptio, Inc		977
	304,998	*	Aspen Technology, Inc		19,157
	48,661		Asseco Poland S.A.		618
	100,600		Ateam, Inc		2,646
	75,227	*	Atlassian Corp plc		2,644
	177,536		Atos Origin S.A.		27,537
	1,982,199	g	Auto Trader Group plc		10,428
	40,000	*	Autobytel, Inc		276
	241,774	*	Autodesk, Inc		27,142
	83,833	*,e	Autohome, Inc (ADR)		5,037
	875,786		Automatic Data Processing, Inc		95,741
	39,519		Aveva Group plc		1,290
	4,064		Axway Software S.A.		107
	557,467	*	Baidu, Inc (ADR)		138,079
	88,861	*	Bankrate, Inc		1,240
	17,200	*,e	Baozun, Inc (ADR)		563
	132,782	*	Barracuda Networks, Inc		3,217
	362,980	*	Bazaarvoice, Inc		1,797
	21,644		Bechtle AG.		1,622
	492,000	*	Beijing Beida Jade Bird Universal Sci-Tech Co Ltd		94
	29,539	*,e	Benefitfocus, Inc		994
	492,000	*,e	BII Railway Transportation Technology Holdings Co Ltd		58
	13,200	*,e	Bitauto Holdings Ltd (ADR)		590

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	65,317	*,e	Black Knight Financial Services, Inc	$	2,812
	91,516		Blackbaud, Inc		8,035
	104,780	*	Blackhawk Network Holdings, Inc		4,589
	198,122	*,e	Blackline, Inc		6,760
	79,857	*	Blucora, Inc		2,020
	70,436	*,e	Blue Prism Group plc		949
	598,430		Booz Allen Hamilton Holding Co		22,375
	75,876	*	Bottomline Technologies, Inc		2,415
	539,313	*	Box, Inc		10,420
	273,000	*,e	Boyaa Interactive International Ltd		109
	120,209	*	Brightcove, Inc		865
	33,100		Broadleaf Co Ltd		285
	250,331		Broadridge Financial Solutions, Inc		20,232
	58,535	*,e	BroadSoft, Inc		2,944
	18,900		Brogent Technologies, Inc		179
	1,414,199		CA, Inc		47,206
	70,000		CAC Holdings Corp		664
	78,752	*	CACI International, Inc (Class A)		10,974
	776,471	*	Cadence Design Systems, Inc		30,647
	122,456	*	Callidus Software, Inc		3,019
	26,235	e	Cancom SE		1,971
	309,737		Cap Gemini S.A.		36,309
	507,886	e	Capcom Co Ltd		12,505
	48,847	*	Carbonite, Inc		1,075
	88,248	*	Cardtronics plc		2,031
	167,312	*	Care.com, Inc		2,659
	138,921	*,e	Cars.com, Inc		3,697
	308,971		carsales.com Ltd		3,118
	20,515		Cass Information Systems, Inc		1,301
	42,908	*,e	Catena Media plc		400
	83,986		CD Projekt Red S.A.		2,676
	332,546		CDK Global, Inc		20,980
	155,962	*	CGI Group, Inc		8,087
	11,200	*	Changyou.com Ltd (ADR)		444
	44,200	*	Chanjet Information Technology Co Ltd		69
	123,360	*	ChannelAdvisor Corp		1,419
	262,381	*	Check Point Software Technologies		29,917
	20,900	*,e	Cheetah Mobile, Inc (ADR)		176
	1,314,000		Chinasoft International Ltd		732
	1,416,298		Cielo S.A.		9,829
	164,931	*,e	Cimpress NV		16,107
	417,740	*	Citrix Systems, Inc		32,091
	26,770	*,e	Cloudera, Inc		445
	1,220,293		Cognizant Technology Solutions Corp (Class A)		88,520
	52,300	e	COLOPL, Inc		604
	6,166		Com2uSCorp		674
	115,420	*	CommerceHub, Inc		2,464
	32,918	*	CommerceHub, Inc (Series A)		743
	209,773	*	Commvault Systems, Inc		12,754
	132,323		Computer Modelling Group Ltd		971
	525,813		Computershare Ltd		5,982
	500,193	*	Conduent, Inc		7,838
	38,436		Constellation Software, Inc		20,970
	357,572		Convergys Corp		9,258
	35,000	e	COOKPAD, Inc		243
	147,068	*	Cornerstone OnDemand, Inc		5,972

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	63,925	*	CoStar Group, Inc	$	17,148
	56,938	*,e	Coupa Software, Inc		1,774
	68,900	e	CROOZ, Inc		1,446
	109,786		CSG Systems International, Inc		4,402
	517,301		CSRA, Inc		16,693
	20,739	*,e	CyberArk Software Ltd		850
	598,048		Dassault Systemes S.A.		60,506
	406,400		Datasonic Group BHD		121
	1,024,404	*	Dell Technologies, Inc-VMware Inc		79,094
	206,800		Dena Co Ltd		4,639
	387,693	*	Descartes Systems Group, Inc		10,574
	9,383		Devoteam S.A.		872
	287,147	*	DHI Group, Inc		747
	19,682	*,e	Digimarc Corp		720
	368,000	*,e	Digital China Holdings Ltd		207
	23,300		Digital Garage, Inc		496
	54,400		Dip Corp		1,244
	5,587		DoubleUGames Co Ltd		276
	259,515		DST Systems, Inc		14,242
	60,700		DTS Corp		1,664
	12,666		DuzonBIzon Co Ltd		346
	3,162,555		DXC Technology Co		271,600
	3,498,896	*	eBay, Inc		134,568
	46,127	e	Ebix, Inc		3,010
	25,505		eClerx Services Ltd		487
	73,658		Econocom Group S.A.		563
	887,461	*	Electronic Arts, Inc		104,774
	64,987	*	Ellie Mae, Inc		5,337
	135,712		Ementor ASA		1,792
	103,463	*	Endurance International Group Holdings, Inc		848
	32,070		Enghouse Systems Ltd		1,329
	120,000	*,e	Enigmo, Inc		1,188
	118,653	*	Envestnet, Inc		6,051
	84,356		EOH Holdings Ltd		596
	217,884	*	EPAM Systems, Inc		19,159
	600,415	g	Equiniti Group plc		2,423
	419,257	*	Etsy, Inc		7,077
	152,808	*	Euronet Worldwide, Inc		14,485
	57,765	*	Everbridge, Inc		1,526
	122,605	*	Everi Holdings, Inc		931
	427,104		EVERTEC, Inc		6,770
	30,302	*	EXA Corp		733
	149,127	*	ExlService Holdings, Inc		8,697
	30,200		F@N Communications, Inc		339
	7,772,198	*	Facebook, Inc		1,328,036
	125,584		Fair Isaac Corp		17,645
	152,200	*,e	Fang Holdings Ltd (ADR)		616
	2,100	*,e	FFRI, Inc		81
	802,435		Fidelity National Information Services, Inc		74,939
	225,880	*,e	FireEye, Inc		3,788
	330,869	*	First American Corp		15,293
	915,885	*	First Data Corp		16,523
	447,487	*	Fiserv, Inc		57,708
	296,535	*	Five9, Inc		7,087
	352,244	*	FleetCor Technologies, Inc		54,517
	18,725		Formula Systems 1985 Ltd		753

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,929		Forrester Research, Inc	$	1,127
	371,700		Forth Smart Service PCL		213
	212,347	*	Fortinet, Inc		7,611
	97,922		F-Secure Oyj		494
	54,500		FUJI SOFT, Inc		1,593
	134,800		Fujitsu Broad Solution & Consulting, Inc		1,532
	6,312,592		Fujitsu Ltd		46,982
	5,200		Fukui Computer Holdings, Inc		134
	52,100		Future Architect, Inc		472
	9,294	*	GameHi Co Ltd		103
	3,044	*	Gamevil, Inc		176
	195,549	*,e	Gaming Innovation Group, Inc		113
	374,827	*	Gartner, Inc		46,632
	108,993	e	GB Group plc		537
	11,949	*,e	GDS Holdings Ltd (ADR)		135
	518,448		Genpact Ltd		14,905
	9,601	e	GFT Technologies AG.		180
	69,943	*,e	Gigamon, Inc		2,948
	69,230	*,g	Global Dominion Access S.A.		335
	382,746		Global Payments, Inc		36,372
	207,016	*,e	Glu Mobile, Inc		778
	72,700	e	GMO internet, Inc		887
	10,300	e	GMO Payment Gateway, Inc		645
	193,037		Gocompare.Com Group plc		270
	533,601	*	GoDaddy, Inc		23,217
	107,816	*,e	Gogo, Inc		1,273
	2,382		Golfzon co Ltd		98
	16,300		Gourmet Navigator, Inc		237
	81,250	*,e	Gravity Co Ltd (ADR)		2,575
	67,500		Gree, Inc		462
	10,907	*,e	Gridsum Holding, Inc (ADR)		112
	663,400	*,e	GrubHub, Inc		34,935
	10,733	*	G-treeBNT Co Ltd		265
	58,835	*	GTT Communications, Inc		1,862
	232,477	*	Guidewire Software, Inc		18,101
	271,100	e	GungHo Online Entertainment Inc		733
	10,966		Haansoft, Inc		167
	226,389		Hackett Group, Inc		3,439
	92,936		Hansen Technologies Ltd		245
	274,000	e	HC International, Inc		222
	755,612		HCL Technologies Ltd		10,126
	6,800	e	Hearts United Group Co Ltd		93
	59,535		Hexaware Technologies Ltd		246
	1,221,000	*	Hi Sun Technology China Ltd		282
	224,740	*	Hortonworks, Inc		3,809
	65,268	*,e	HubSpot, Inc		5,486
	815,556	*	IAC/InterActiveCorp		95,893
	523,000	e	IGG, Inc		704
	169,126	*	Imperva, Inc		7,340
	76,575	*	Indra Sistemas S.A.		1,211
	523,500		Ines Corp		4,862
	198,386		Inesa Intelligent Tech, Inc - B		146
	88,275		Info Edge India Ltd		1,495
	17,700		Infocom Corp		437
	1,119,960		Infomart Corp		8,051
	80,512	*	Information Services Group, Inc		324

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,600		Information Services International-Dentsu Ltd	$	741
	1,801,713		Infosys Technologies Ltd		24,876
	6,765	*,e	Inspired Entertainment, Inc		90
	41,154	*	Instructure, Inc		1,364
	160,456	*,e	Internap Network Services Corp		698
	1,288,505		International Business Machines Corp		186,936
	36,000		International Games System Co Ltd		198
	16,300		Internet Initiative Japan, Inc		305
	50,646	*	InterXion Holding NV		2,579
	1,112,565		Intuit, Inc		158,140
	74,537		iomart Group plc		332
	89,271		Iress Market Technology Ltd		800
	24,600	e	Istyle, Inc		153
	162,330		IT Holdings Corp		4,794
	167,900		Itochu Techno-Science Corp		6,272
	89,028	e	j2 Global, Inc		6,577
	101,484		Jack Henry & Associates, Inc		10,432
	1,700	*,e	JIG-SAW, Inc		91
	22,742	*	Just Dial Ltd		130
	335,715	*	Just Eat plc		3,007
	23,600		Justsystems Corp		500
	186,270		Kainos Group plc		728
	126,820	e	Kakaku.com, Inc		1,618
	28,940		Kakao Corp		3,651
	8,300		Kanematsu Electronics Ltd		245
	7,302		KCP Co Ltd		98
	27,186		Keywords Studios plc		505
	71,260		Kginicis Co Ltd		705
	196,886	*	Kinaxis, Inc		11,629
	1,244,000	*,e	Kingdee International Software Group Co Ltd		550
	885,061		Kingsoft Corp Ltd		2,073
	144,468		Konami Corp		6,955
	10,452	*	Korea Information & Communications Co Ltd		83
	314,130		KPIT Cummins Infosystems Ltd		582
	23,760		Larsen & Toubro Infotech Ltd		291
	24,644	*	Leaf Group Ltd		170
	512,074		Leidos Holdings, Inc		30,325
	448,141	*	Limelight Networks, Inc		1,779
	37,100	*,e	LINE Corp		1,342
	640,598	e	Link Administration Holdings Ltd		3,790
	81,367		Linx S.A.		503
	53,610	*	Liquidity Services, Inc		316
	265,176	*	Liveperson, Inc		3,593
	192,371		LogMeIn, Inc		21,170
	10,369	*	Logo Yazilim Sanayi Ve Ticaret AS.		158
	127,500	*	Mail.ru (GDR)		4,205
	10,717	*	Majesco		53
	146,526	*	Manhattan Associates, Inc		6,091
	73,133		Mantech International Corp (Class A)		3,229
	354,970	e	Marvelous, Inc		3,015
	2,266,036		MasterCard, Inc (Class A)		319,964
	67,190	*,e	Match Group, Inc		1,558
	84,412		Matrix IT Ltd		891
	230,024		MAXIMUS, Inc		14,837
	132,512	*	Meet Group, Inc		482
	331,134		Micro Focus International plc		10,599

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	97,255	*	Micro Focus International plc (ADR)	$	3,102
	21,574,904		Microsoft Corp		1,607,115
	70,981	*	MicroStrategy, Inc (Class A)		9,065
	79,248	*	MINDBODY, Inc		2,049
	147,172		MindTree Ltd		1,049
	10,400		Miroku Jyoho Service Co Ltd		242
	110,574	*	Mitek Systems, Inc		1,050
	4,300		Mitsubishi Research Institute, Inc		127
	133,660	e	Mixi Inc		6,455
	295,647	*	MobileIron, Inc		1,094
	74,071	*	Model N, Inc		1,107
	94,600	*	Momo, Inc (ADR)		2,965
	69,303	*	MoneyGram International, Inc		1,116
	1,334,017		Moneysupermarket.com Group plc		5,687
	79,630		Monotype Imaging Holdings, Inc		1,533
	2,100	*	Morpho, Inc		94
	124,829		Mphasis Ltd		1,183
	11,600		MTI Ltd		70
	44,779	*,e	MuleSoft, Inc		902
	1,464,450		My EG Services BHD		712
	201,477	e	MYOB Ltd		545
	852,000	*,†,e,m	National Agricultural Holdings Ltd		1
	23,532		Naver Corp		15,353
	181,216		NCC Group plc		526
	14,655		NCsoft		5,958
	12,800		NEC Networks & System Integration Corp		306
	11,907		Nemetschek AG.		969
	629,400		NET One Systems Co Ltd		6,665
	112,000	e	NetDragon Websoft, Inc		375
	200,353		Netease.com (ADR)		52,855
	110,336		NetEnt AB		856
	74,250	*,g	Nets A.S.		1,922
	71,131	*	New Relic, Inc		3,542
	334,064	*	Nexon Co Ltd		8,733
	181,511	*	NEXTDC Ltd		623
	6,922	*	NHN Entertainment Corp		414
	123,633		NIC, Inc		2,120
	4,203		Nice Information & Telecommunication, Inc		89
	76,792		Nice Systems Ltd		6,220
	248,000		Nihon Unisys Ltd		3,967
	48,299		NIIT Technologies Ltd		402
	263,481		Nintendo Co Ltd		97,154
	21,200		Nippon System Development Co Ltd		394
	188,524		Nomura Research Institute Ltd		7,362
	60,700	*,e	NQ Mobile, Inc (ADR)		212
	60,400		NS Solutions Corp		1,333
	683,835		NTT Data Corp		7,318
	451,856	*	Nuance Communications, Inc		7,103
	571,712	*,e	Nutanix, Inc		12,801
	6,200		OBIC Business Consultants Ltd		312
	50,800		Obic Co Ltd		3,198
	22,503	*,e	Okta, Inc		635
	589,292		Open Text Corp		19,014
	67,844	e	Opera Software ASA		194
	529,955	*	Optimal Payments plc		4,137
	13,483,050		Oracle Corp		651,905

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,949		Oracle Corp Japan	$	3,612
	45,495		Otsuka Corp		2,918
	217,000	*,e	Ourgame International Holdings Ltd		58
	356,700		Pacific Online		64
	2,023,081	*,e	Pandora Media, Inc		15,578
	31,155		Paradox Interactive AB		326
	26,569	*,e	Park City Group, Inc		323
	635,377		Paychex, Inc		38,097
	94,633	*,e	Paycom Software, Inc		7,094
	49,928	*	Paylocity Holding Corp		2,437
	5,121,364	*	PayPal Holdings, Inc		327,921
	59,780		PC Home Online		308
	263,000		PCA Corp		3,812
	143,320		Pegasystems, Inc		8,262
	135,594	*	Perficient, Inc		2,667
	51,092		Persistent Systems Ltd		525
	23,000	*	PFSweb, Inc		192
	19,000	*,e	Phoenix New Media Ltd (ADR)		112
	128,091	*	Planet Payment, Inc		549
	880,171		Playtech Ltd		10,837
	35,975		POSDATA Co Ltd		210
	37,090	*,e	Presidio, Inc		525
	334,712		Progress Software Corp		12,776
	998,472	*	Proofpoint, Inc		87,087
	50,956	*	PROS Holdings, Inc		1,230
	308,370	*	PTC, Inc		17,355
	59,202	*	Q2 Holdings, Inc		2,466
	23,060		QAD, Inc (Class A)		792
	162,823	*	Qualys, Inc		8,434
	70,778	*	QuinStreet, Inc		520
	281,454	*	Quotient Technology, Inc		4,405
	52,262	*	Rapid7, Inc		920
	79,000	*,e	Real Matters, Inc		672
	51,999	*	RealNetworks, Inc		250
	112,627	*,e	RealPage, Inc		4,494
	389,704	*	Red Hat, Inc		43,203
	20,931		Reis, Inc		377
	11,280	*,e	Renren, Inc (ADR)		101
	2,010,000	*,e	Rentian Technology Holdings Ltd		96
	13,481		Reply S.p.A.		3,241
	25,754	e	RIB Software AG.		547
	196,284		Rightmove plc		10,644
	322,975	*	RingCentral, Inc		13,484
	35,125	*,e,g	Rocket Internet SE		904
	29,767	*	Rosetta Stone, Inc		304
	310,445	*	Rubicon Project, Inc		1,208
	826,858		Sabre Corp		14,966
	106,818		SafeCharge International Group Ltd		409
	1,159,385		Sage Group plc		10,857
	31,071		Saipens International Corp NV		406
	4,515,810	*	salesforce.com, Inc		421,867
	28,902		Samsung SDS Co Ltd		4,268
	869,840		SAP AG.		95,374
	168,467		Science Applications International Corp		11,262
	671,272	g	Scout24 AG.		27,467
	16,427	*,e	SecureWorks Corp		203

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,232,142	*	ServiceNow, Inc	$	144,814
	152,767	*	ServiceSource International LLC		529
	147,860		Shanghai Baosight Software Co Ltd		227
	83,360	*	Shopify, Inc		9,695
	35,755	*,e	Shutterstock, Inc		1,190
	110,803	*	Silver Spring Networks, Inc		1,792
	1,551,800		Silverlake Axis Ltd		676
	23,750		SimCorp AS		1,452
	95,216	*	Sina Corp		10,917
	6,440,000	*	Sino-I Technology Ltd		89
	436,600	e	Sinosoft Technology Group Ltd		127
	20,200		SMS Co Ltd		644
	203,636		Softcat plc		1,148
	30,788	e	Software AG.		1,504
	53,540		Soft-World International Corp		117
	18,658	*	Sohu.com, Inc		1,016
	303,885		Sonda S.A.		591
	171,554	g	Sophos Group plc		1,264
	22,930		Sopra Group S.A.		4,256
	203,001	*	Splunk, Inc		13,485
	32,967	*	SPS Commerce, Inc		1,870
	57,927		Square Enix Co Ltd		2,182
	555,832	*,e	Square, Inc		16,014
	535,646		SS&C Technologies Holdings, Inc		21,506
	36,087	*,e	Stamps.com, Inc		7,313
	139,314	*,e	Starbreeze AB		194
	44,756	*	StarTek, Inc		526
	30,042		Sumisho Computer Systems Corp		1,276
	454,000		SUNeVision Holdings Ltd		308
	75,646	*	Sykes Enterprises, Inc		2,206
	6,497,470		Symantec Corp		213,182
	82,143	*,e	Synchronoss Technologies, Inc		766
	424,548	*	Synopsys, Inc		34,189
	157,833	e	Syntel, Inc		3,101
	9,400		Systena Corp		235
	591,000		Systex Corp		1,114
	70,562	*	Tableau Software, Inc		5,284
	11,239	*,g	Takeaway.com Holding BV		494
	613,689	*	Take-Two Interactive Software, Inc		62,737
	653,462		Tata Consultancy Services Ltd		24,399
	10,452		Tata Elxsi Ltd		130
	804,917		Tech Mahindra Ltd		5,647
	219,823		Technology One Ltd		867
	42,029	*	TechTarget, Inc		502
	22,400		Tecmo Koei Holdings Co Ltd		471
	87,960	*	TeleNav, Inc		559
	38,414		TeleTech Holdings, Inc		1,604
	53,778		Temenos Group AG.		5,493
	10,795,114	e	Tencent Holdings Ltd		471,970
	1,401,430	*,e	Teradata Corp		47,354
	302,000	g	Tian GE Interactive Holdings Ltd		221
	34,194		Tietoenator Oyj		1,043
	572,753		TiVo Corp		11,369
	11,100		TKC		340
	558,359		Total System Services, Inc		36,573
	74,400		Totvus S.A.		735

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	129,070	*,e	Trade Desk, Inc	$	7,939
	16,000		Trans Cosmos, Inc/Japan		369
	1,028,388		Travelport Worldwide Ltd		16,146
	996,000		Travelsky Technology Ltd		2,605
	201,603		Trend Micro, Inc		9,932
	130,876	*,e	TrueCar, Inc		2,067
	17,335	*,e	Tucows, Inc		1,015
	119,456	*,e	Twilio, Inc		3,566
	1,787,179	*	Twitter, Inc		30,150
	75,195	*	Tyler Technologies, Inc		13,108
	228,448	*	Ubisoft Entertainment		15,723
	59,722	*	Ultimate Software Group, Inc		11,323
	247,829	*,e	Unisys Corp		2,107
	142,121		United Internet AG.		8,859
	19,700	e	UNITED, Inc		520
	24,310	*	Upland Software, Inc		514
	353,599		Vakrangee Ltd		2,678
	356,657	*	Vantiv, Inc		25,134
	122,363	*	Varonis Systems, Inc		5,127
	59,467	*	Vasco Data Security International		717
	137,827	*	Verint Systems, Inc		5,768
	128,956	*,e	VeriSign, Inc		13,720
	4,341	*,e	Veritone, Inc		197
	91,273	*,e	VirnetX Holding Corp		356
	52,272	*	Virtusa Corp		1,975
	7,354,806		Visa, Inc (Class A)		774,020
	370,343	*,e	VMware, Inc (Class A)		40,438
	73,331	*	Website Pros, Inc		1,833
	10,268	*	Webzen, Inc		223
	122,156	*,e	Weibo Corp (ADR)		12,086
	5,956		WeMade Entertainment Co Ltd		171
	1,162,905		Western Union Co		22,328
	76,378	*	WEX, Inc		8,571
	1,679,905		Wipro Ltd		7,213
	163,475	e	Wirecard AG.		14,976
	196,803		Wisetech Global Ltd		1,344
	41,039	*	Wix.com Ltd		2,949
	130,770	*	Workday, Inc		13,782
	91,954	*	Workiva, Inc		1,917
	29,052	*,g	Worldline S.A.		1,231
	1,347,093	g	Worldpay Group plc		7,353
	51,537	*	Xero Ltd		1,152
	5,529		XING AG.		1,734
	188,538	*	XO Group, Inc		3,709
	16,700	*,e	Xunlei Ltd (ADR)		71
	8,709,000		Xurpas, Inc		1,018
	1,124,638		Yahoo! Japan Corp		5,345
	505,285	*	Yelp, Inc		21,879
	23,815	*,e	Yext, Inc		316
	7,854	e	Yirendai Ltd (ADR)		329
	184,600	*	YY, Inc (ADR)		16,020
	326,507	*	Zendesk, Inc		9,505
	8,826		Zensar Technologies Ltd		101
	9,200	*	ZIGExN Co Ltd		135
	124,759	*	Zillow Group, Inc		5,009
	228,781	*,e	Zillow Group, Inc (Class C)		9,199

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	185,265	*	Zix Corp	$	906
	1,187,673	g	ZPG plc		5,756
	1,935,767	*	Zynga, Inc		7,317
			TOTAL SOFTWARE & SERVICES		13,721,343
TECHNOLOGY HARDWARE & EQUIPMENT - 4.7%
	210,518	*,e	3D Systems Corp		2,819
	1,065,422		AAC Technologies Holdings, Inc		18,029
	42,446	*	accesso Technology Group plc		1,069
	2,469,292		Accton Technology Corp		7,959
	10,013,762		Acer, Inc		5,012
	92,492		Adlink Technology, Inc		205
	165,328		Adtran, Inc		3,968
	24,517	*,e	ADVA AG. Optical Networking		166
	27,000		Advanced Ceramic X Corp		377
	306,932		Advantech Co Ltd		2,191
	157,803	*,e	Aerohive Networks, Inc		645
	35,581	*	Agilysys, Inc		425
	22,700		Ai Holdings Corp		568
	18,611	*,e	Akoustis Technologies, Inc		121
	182,400		Alpha Networks, Inc		145
	145,000		Alps Electric Co Ltd		3,832
	14,938		ALSO Holding AG.		2,110
	37,800		Amano Corp		895
	493,429		Amphenol Corp (Class A)		41,764
	897,551	*	Anixter International, Inc		76,292
	88,000		Anritsu Corp		731
	2,796,000	*,†,e,m	Anxin-China Holdings Ltd		4
	15,973,065	l,n	Apple, Inc		2,461,769
	35,561	*,e	Applied Optoelectronics, Inc		2,300
	87,000		Arcadyan Technology Corp		141
	178,250	*	Arista Networks, Inc		33,798
	635,790	*	ARRIS International plc		18,114
	191,965	*	Arrow Electronics, Inc		15,436
	22,657		Ascom Holding AG.		498
	144,000		Asia Optical Co, Inc		532
	3,042,464		Asia Vital Components Co Ltd		2,574
	1,731,044		Asustek Computer, Inc		14,265
	66,000		Aten International Co Ltd		169
	6,892,893		AU Optronics Corp		2,770
	166,800		Aurora Corp		477
	15,889		Austria Technologie & Systemtechnik AG.		226
	64,580	*,e	Avid Technology, Inc		293
	82,830	*	Avigilon Corp		1,187
	310,734		Avnet, Inc		12,212
	85,139		AVX Corp		1,552
	53,857	e	Badger Meter, Inc		2,639
	19,560		Barco NV		2,110
	17,593		Bel Fuse, Inc (Class B)		549
	80,741		Belden CDT, Inc		6,502
	190,874	*	Benchmark Electronics, Inc		6,518
	12,408,000		Benq Corp		8,777
	3,916,000		Big Media Group Ltd		123
	373,269	*	Blackberry Ltd (New)		4,173
	1,023,138		Brocade Communications Systems, Inc		12,226
	394,659		Brother Industries Ltd		9,202

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,274,500	e	BYD Electronic International Co Ltd	$	9,703
	66,050	*	CalAmp Corp		1,536
	6,040,815		CalComp Electronics Thailand PCL		638
	114,032	*	Calix, Inc		576
	84,400		Canon Electronics, Inc		1,705
	1,007,682		Canon, Inc		34,484
	85,000		Casetek Holdings Ltd		277
	20,787	*,e	Catapult Group International Ltd		21
	545,857		Catcher Technology Co Ltd		5,106
	194,000		Catic Shenzhen Holdings Ltd		109
	513,961		CDW Corp		33,921
	285,208	*	Celestica, Inc		3,529
	37,000		Chaun-Choung Technology Corp		111
	251,602		Cheng Uei Precision Industry Co Ltd		349
	661,452		Chicony Electronics Co Ltd		1,573
	243,663		Chimei Materials Technology Corp		113
	5,306,000		China Aerospace International Holdings Ltd		701
	1,232,000	e	China All Access Holdings Ltd		385
	489,600	*,†,m	China Fiber Optic Network System Group Ltd		1
	2,948,000	*,e	China Innovationpay Group Ltd		185
	179,000		Chin-Poon Industrial Co		344
	234,840		Chroma ATE, Inc		830
	8,000		Chunghwa Precision Test Tech Co Ltd		317
	2,256,880	*	Ciena Corp		49,584
	18,333,033	n	Cisco Systems, Inc		616,540
	567,554		Citizen Watch Co Ltd		3,914
	25,329	*,e	Clearfield, Inc		344
	310,393		Clevo Co		302
	1,212,394	*	CMC Magnetics Corp		169
	291,209		Cognex Corp		32,115
	109,634	*	Coherent, Inc		25,783
	899,089		Comba Telecom Systems Holdings Ltd		173
	11,630		Comet Holding AG.		1,723
	574,849	*	CommScope Holding Co, Inc		19,091
	3,523,688		Compal Electronics, Inc		2,507
	4,630,000		Compeq Manufacturing Co		5,050
	43,937		Comtech Telecommunications Corp		902
	24,250		Concraft Holding Co Ltd		168
	178,220	*	Control4 Corp		5,250
	2,615,399	*,†,e,m	Coolpad Group Ltd		181
	971,000		Coretronic Corp		1,136
	1,595,527		Corning, Inc		47,738
	76,557	*	Cray, Inc		1,489
	58,895		CTS Corp		1,419
	150,411		Daeduck Electronics Co		1,427
	51,080		Daeduck GDS Co Ltd		856
	80,700		Daiwabo Co Ltd		3,408
	65,246		Daktronics, Inc		690
	15,573		Datalogic S.p.A.		548
	126,240		DataTec Ltd		534
	368,400		Delta Electronics Thai PCL		966
	1,669,988		Delta Electronics, Inc		8,616
	21,200		Denki Kogyo Co Ltd		538
	29,400		Dexerials Corp		360
	143,837	e	Diebold, Inc		3,287
	110,582	*	Digi International, Inc		1,172

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	420,421		D-Link Corp	$	153
	159,251		Dolby Laboratories, Inc (Class A)		9,160
	209,600		Eastern Communications Co Ltd		148
	34,076	*	Eastman Kodak Co		250
	120,849	*	EchoStar Corp (Class A)		6,916
	40,000	*	Egis Technology, Inc		360
	64,971		Eizo Nanao Corp		2,574
	52,400	e	Elecom Co Ltd		1,056
	138,761	*	Electro Scientific Industries, Inc		1,932
	1,615,851		Electrocomponents plc		13,463
	89,145	*	Electronics for Imaging, Inc		3,805
	3,500		Elematec Corp		67
	258,654		Elite Material Co Ltd		1,232
	211,390		Elitegroup Computer Systems Co Ltd		161
	47,828		EMCORE Corp		392
	28,822		Ennoconn Corp		415
	18,800		Enplas Corp		872
	24,852	*	ePlus, Inc		2,298
	2,383,212		Ericsson (LM) (B Shares)		13,739
	78,544		Esprinet S.p.A.		463
	55,200		Evertz Technologies Ltd		770
	23,416		EVS Broadcast Equipment S.A.		885
	1,276,308	*	Extreme Networks, Inc		15,175
	296,184	*	F5 Networks, Inc		35,708
	68,878	*	Fabrinet		2,553
	32,971	*	FARO Technologies, Inc		1,261
	872,614	e	Fingerprint Cards AB		2,444
	309,277	*	Finisar Corp		6,857
	141,672		Firich Enterprises Co Ltd		232
	331,165	*,e	Fitbit, Inc		2,305
	1,466,550	*	Flex Ltd		24,301
	1,177,430		FLEXium Interconnect, Inc		4,522
	573,538		Flir Systems, Inc		22,316
	75,310		Flytech Technology Co Ltd		225
	4,332,868		Foxconn Technology Co Ltd		12,539
	865,863		Fujifilm Holdings Corp		33,640
	80,000		Fujitsu Frontech Ltd		1,628
	67,539		Gemalto NV		3,018
	1,860,000		General Interface Solution Holding Ltd		18,565
	38,000	*	Genius Electronic Optical Co Ltd		492
	2,472,000		Getac Technology Corp		3,433
	1,292,000		Gigabyte Technology Co Ltd		1,632
	804,000	e	Goldpac Group Ltd		264
	3,710		Green Cross Cell Corp		116
	233,553		Halma plc		3,504
	122,500		Hamamatsu Photonics KK		3,706
	10,249,330		HannStar Display Corp		3,981
	143,993	*,e	Harmonic, Inc		439
	238,978		Harris Corp		31,469
	2,685,492		Hewlett Packard Enterprise Co		39,504
	42,888	e	Hexagon AB (B Shares)		2,128
	593,799	*	High Tech Computer Corp		1,489
	53,300		Hirose Electric Co Ltd		7,505
	686,779		Hitachi High-Technologies Corp		24,943
	37,900		Hitachi Kokusai Electric, Inc		1,039
	19,100,574		Hitachi Ltd		134,675

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	311,300		Hitachi Maxell Ltd	$	6,994
	336,100		Holystone Enterprise Co Ltd		453
	17,281	*,e	Homecast Co Ltd		155
	39,686,287		Hon Hai Precision Industry Co, Ltd		137,827
	45,795		Horiba Ltd		2,593
	39,600		Hosiden Corp		647
	2,552,774		HP, Inc		50,953
	11,888		Humax Co Ltd		97
	195,700	e	Ibiden Co Ltd		3,122
	6,300		Icom, Inc		153
	137,476		ICP Electronics, Inc		194
	504,622	*,e	IDEX ASA		400
	116,632	*	II-VI, Inc		4,799
	11,670	e	Iljin Materials Co Ltd		359
	57,524	*,e	Immersion Corp		470
	734,880		Inari Amertron BHD		443
	6,750		Inficon Holding AG.		4,395
	630,946	*,e	Infinera Corp		5,596
	72,436		Ingenico		6,867
	7,529,219		InnoLux Display Corp		3,524
	259,098	*	Insight Enterprises, Inc		11,898
	193,099		InterDigital, Inc		14,241
	6,196	*	Interflex Co Ltd		297
	38,325	*	Intevac, Inc		324
	2,086,535		Inventec Co Ltd		1,545
	49,210	*	IPG Photonics Corp		9,107
	31,200		Iriso Electronics Co Ltd		1,634
	2,128		Isra Vision AG.		402
	40,300		ITC Networks Corp		700
	697,357		ITEQ Corp		1,346
	41,633	*	Iteris, Inc		277
	235,836	*	Itron, Inc		18,265
	35,649		Ituran Location and Control Ltd		1,285
	548,030		Jabil Circuit, Inc		15,646
	119,000		Japan Aviation Electronics Industry Ltd		1,864
	8,300	e	Japan Cash Machine Co Ltd		84
	219,600	*,e	Japan Display, Inc		426
	37,307	m	Japan Radio Co Ltd		569
	561,600		JCY International BHD		69
	112,158		Jenoptik AG.		3,720
	2,849,125		Ju Teng International Holdings Ltd		1,127
	1,933,691		Juniper Networks, Inc		53,815
	19,800		Kaga Electronics Co Ltd		586
	16,692		Kapsch TrafficCom AG.		891
	64,400		KCE Electronics PCL		193
	425,954	*	Kemet Corp		9,000
	16,600		Keyence Corp		8,829
	425,266	*	Keysight Technologies, Inc		17,717
	52,771	*	Kimball Electronics, Inc		1,142
	2,969,000		Kingboard Chemical Holdings Ltd		15,812
	592,000		Kingboard Laminates Holdings Ltd		959
	16,411		Kingpak Technology, Inc		147
	167,157	*	Knowles Corp		2,552
	111,700		Koa Corp		2,074
	909,725	e	Konica Minolta Holdings, Inc		7,474
	147,319		Kudelski S.A.		1,842

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,573	*	KVH Industries, Inc	$	377
	308,210		Kyocera Corp		19,129
	478,089		Laird Group plc		915
	84,666		Largan Precision Co Ltd		14,936
	6,694,753	e	Lenovo Group Ltd		3,705
	11,487		LG Innotek Co Ltd		1,552
	198,764		LG.Philips LCD Co Ltd		5,325
	1,772,825		Lite-On Technology Corp		2,539
	56,000		Littelfuse, Inc		10,969
	400,817		Logitech International S.A.		14,644
	30,000		Lotes Co Ltd		183
	2,105,461	*,e	Lumentum Holdings, Inc		114,432
	209,100		Macnica Fuji Electronics Holdings, Inc		3,854
	123,300		Marubun Corp		934
	6,400		Maruwa Co Ltd		362
	70,834	*,e	Maxwell Technologies, Inc		363
	52,800		Mcj Co Ltd		572
	4,800		Melco Holdings, Inc		153
	106,076		Merry Electronics Co Ltd		671
	6,171	e	Mesa Laboratories, Inc		921
	254,379		Methode Electronics, Inc		10,773
	214,598	e	Micronic Laser Systems AB		2,948
	575,000		Micro-Star International Co Ltd		1,240
	138,336	*,e	Microvision, Inc		385
	2,917,082		Mitac Holdings Corp		3,539
	468,700		Motorola, Inc		39,779
	31,573		MTS Systems Corp		1,688
	281,615		Murata Manufacturing Co Ltd		41,459
	153,000		Nan Ya Printed Circuit Board Corp		120
	108,000		Nanjing Panda Electronics		69
	24,213	*	Napco Security Technologies, Inc		235
	354,902		National Instruments Corp		14,966
	591,240	*	NCR Corp		22,183
	211,127		NEC Corp		5,727
	84,080		Neopost S.A.		3,268
	861,222		NetApp, Inc		37,687
	72,683	*	Netgear, Inc		3,460
	169,400	*	Netscout Systems, Inc		5,480
	38,126		Nichicon Corp		469
	43,300		Nippon Ceramic Co Ltd		1,216
	23,000	*	Nippon Chemi-Con Corp		818
	51,704		Nippon Electric Glass Co Ltd		2,004
	31,600		Nippon Signal Co Ltd		340
	20,260		Nissha Printing Co Ltd		550
	12,100	e	Nohmi Bosai Ltd		191
	2,228,734		Nokia Corp		13,328
	8,276,778		Nokia Oyj (Turquoise)		49,731
	111,513	*	Novanta, Inc		4,862
	693,899	*,e	Oclaro, Inc		5,988
	51,600		Oki Electric Industry Co Ltd		688
	656,756		Omron Corp		33,490
	229,000	*,e	O-Net Communications Group		152
	11,000		Optex Co Ltd		413
	69,752	*	Orbotech Ltd		2,944
	263,900		Osaki Electric Co Ltd		2,045
	33,484	*	OSI Systems, Inc		3,059

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,199		Oxford Instruments plc	$	925
	118,713	*	Palo Alto Networks, Inc		17,107
	245,224		Pan-International Industrial		198
	35,232		Park Electrochemical Corp		652
	12,206	*,e	Parrot S.A.		147
	25,887		Partron Co Ltd		210
	2,126,000	e	PAX Global Technology Ltd		1,133
	50,176		PC Connection, Inc		1,414
	19,576	*	PC Mall, Inc		274
	1,620,917		Pegatron Technology Corp		4,221
	140,247		Plantronics, Inc		6,202
	64,421	*	Plexus Corp		3,613
	11,176		Posiflex Technology, Inc		51
	1,576,000		Primax Electronics Ltd		3,909
	503,000		Prime View International Co Ltd		707
	861,341	*,e	Pure Storage, Inc		13,773
	2,263,338		Quanta Computer, Inc		5,222
	42,192	*,e	Quantenna Communications, Inc		709
	56,020	*	Quantum Corp		343
	70,887	*	Radisys Corp		97
	31,011	*	Radware Ltd		523
	496,727		Redington India Ltd		1,189
	146,379		Renishaw plc		9,351
	152,033		Ricoh Co Ltd		1,478
	9,879	*,†,m	RICOH INDIA Ltd		29
	16,100		Riso Kagaku Corp		293
	1,116,062	*	Ritek Corp		189
	72,686	*	Rogers Corp		9,688
	7,100		Roland DG Corp		182
	33,600		Ryosan Co Ltd		1,335
	62,000		Ryoyo Electro Corp		1,103
	21,747	e	S&T AG.		479
	309,500		Samart Corp PCL		122
	45,616		Samsung Electro-Mechanics Co Ltd		4,077
	45,125		Samsung SDI Co Ltd		7,851
	258,602	*	Sanmina Corp		9,607
	107,270	*	Scansource, Inc		4,682
	4,225	e	Seagate Technology, Inc		140
	68,700		Seiko Epson Corp		1,664
	708,000		Sercomm Corp		1,911
	12,692		SFA Engineering Corp		460
	197,876		Shimadzu Corp		3,903
	73,149	*,e	Sierra Wireless, Inc		1,569
	9,200		Siix Corp		405
	5,800		Silicom Ltd		339
	292,800		Simplo Technology Co Ltd		1,557
	143,123		Sinbon Electronics Co Ltd		379
	3,273		Sindoh Co Ltd		182
	44,217		Smart Metering Systems plc		412
	182,000		SMK Corp		842
	161,347	*	Sonus Networks, Inc		1,234
	87,178		Spectris plc		2,817
	1,750		Spigen Korea Co Ltd		63
	40,494	*,m	Sterlite Power Transmission Ltd		70
	61,481		Sterlite Technologies Ltd		211
	110,100	*	Stratasys Ltd		2,546

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	723,000		Sunny Optical Technology Group Co Ltd	$	11,607
	74,303	*	Super Micro Computer, Inc		1,642
	65,364	*,e	Synaptics, Inc		2,561
	180,204		SYNNEX Corp		22,798
	1,236,238		Synnex Technology International Corp		1,486
	92,990		Systemax, Inc		2,458
	421,359		Taiwan PCB Techvest Co Ltd		444
	129,000		Taiwan Union Technology Corp		343
	218,103		Taiyo Yuden Co Ltd		3,230
	100,690		TDK Corp		6,842
	258,665		TE Connectivity Ltd		21,485
	131,159	*	Tech Data Corp		11,653
	328,000	e	Technovator International Ltd		101
	185,463	e	Telit Communications plc		435
	109,495		Test Research, Inc		151
	497,598	*,e	Thin Film Electronics ASA		172
	46,919	*,e	Tobii AB		283
	94,625		Tong Hsing Electronic Industries Ltd		391
	11,360,000	e	Tongda Group Holdings Ltd		3,063
	63,500		Topcon Corp		1,121
	446,000	*	Toshiba TEC Corp		2,460
	12,400		Toyo Corp/Chuo-ku		112
	185,000	*	TPK Holding Co Ltd		599
	678,000		Tpv Technology Ltd		121
	678,100		Transcend Information, Inc		1,919
	532,000		Trigiant Group Ltd		75
	780,270	*	Trimble Navigation Ltd		30,626
	1,358,832		Tripod Technology Corp		4,714
	946,000	e	Truly International Holdings		319
	15,800		TSC Auto ID Technology Co Ltd		125
	178,022	*	TTM Technologies, Inc		2,736
	117,039		TXC Corp		152
	44,327	*,e	Ubiquiti Networks, Inc		2,483
	843,883		Unimicron Technology Corp		456
	171,956		Universal Display Corp		22,157
	73,427	*,e	USA Technologies, Inc		459
	2,700	e	V Technology Co Ltd		453
	952,195		Venture Corp Ltd		12,386
	214,659	*	VeriFone Systems, Inc		4,353
	102,547	*,e	Viasat, Inc		6,596
	1,692,708	*	Viavi Solutions, Inc		16,013
	259,975	e	Vishay Intertechnology, Inc		4,888
	36,148	*	Vishay Precision Group, Inc		882
	3,197,000		VS Industry Bhd		2,016
	1,008,800		VST Holdings Ltd		333
	342,400		Vtech Holdings Ltd		5,007
	89,800	e	Wacom Co Ltd		419
	1,292,000		Wah Lee Industrial Corp		2,125
	1,576,766		Walsin Technology Corp		3,923
	336,000	e	Wasion Group Holdings Ltd		171
	990,270		Western Digital Corp		85,559
	20,114		Wincor Nixdorf AG.		1,691
	190,500	*,†,b,m	Wintek Corp		0	^
	8,124,393		Wistron Corp		6,516
	157,055		Wistron NeWeb Corp		452
	4,976,000	e	World Wide Touch Technology Ho		371

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,352,732		WPG Holdings Co Ltd	$	1,803
	1,466,848		WT Microelectronics Co Ltd		2,321
	2,394,858		Xerox Corp		79,725
	15,750	*,†,m	Ya Hsin Industrial Co Ltd		0
	158,607		Yageo Corp		1,105
	71,393		Yamatake Corp		3,064
	502,000	e,g	Yangtze Optical Fibre and Cable Joint Stock Ltd		1,922
	62,438		Yaskawa Electric Corp		1,982
	59,484		Yokogawa Electric Corp		1,014
	176,803	*	Zebra Technologies Corp (Class A)		19,197
	401,405		Zhen Ding Technology Holding Ltd		816
	201,000		Zinwell Corp		184
	609,138		ZTE Corp		2,004
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,750,261
TELECOMMUNICATION SERVICES - 2.4%
	6,308		012 Smile.Communications Ltd		90
	2,449,689		Advanced Info Service PCL (Foreign)		14,037
	189,990		AFK Sistema (GDR)		912
	44,600,784		America Movil S.A. de C.V. (Series L)		39,580
	243,750		APT Satellite Holdings Ltd		114
	1,284,836	*	Asia Pacific Telecom Co Ltd		433
	19,121,845		AT&T, Inc		749,003
	45,419		ATN International, Inc		2,394
	509,400	*,e	Axtel SAB de C.V.		121
	739,657		BCE, Inc		34,655
	8,549,085		Bezeq Israeli Telecommunication Corp Ltd		12,216
	1,472,901		Bharti Airtel Ltd		8,796
	855,127		Bharti Infratel Ltd		5,218
	406,558	*	Boingo Wireless, Inc		8,688
	9,323,187		BT Group plc		35,461
	36,110	*	Cellcom Israel Ltd		336
	93,073	g	Cellnex Telecom SAU		2,131
	1,333,592	e	CenturyLink, Inc		25,205
	2,339,371		China Communications Services Corp Ltd		1,208
	6,922,999		China Mobile Hong Kong Ltd		70,282
	12,994,457		China Telecom Corp Ltd		6,685
	9,285,381		China Unicom Ltd		12,982
	560,907		Chorus Ltd		1,589
	3,230,988		Chunghwa Telecom Co Ltd		11,130
	118,286	*,e	Cincinnati Bell, Inc		2,348
	3,486,000		Citic 1616 Holdings Ltd		1,007
	78,976		Cogent Communications Group, Inc		3,862
	325,313		Com Hem Holding AB		4,657
	127,823		Consolidated Communications Holdings, Inc		2,439
	5,745,118		Deutsche Telekom AG.		107,286
	2,763,639		Digi.Com BHD		3,207
	12,074		Digital Multimedia Technologies S.p.A.		714
	150,949		DNA Oyj		2,640
	29,203		Drillisch AG.		2,052
	134,417		Elisa Oyj (Series A)		5,791
	2,401,814		Emirates Telecommunications Group Co PJSC		11,314
	158,989		Empresa Nacional de Telecomunicaciones S.A.		1,644
	215,042	g	Euskaltel S.A.		1,936
	1,392,236		Far EasTone Telecommunications Co Ltd		3,312
	2,245,367		France Telecom S.A.		36,765

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	144,595		Freenet AG.	$	4,839
	152,153	e	Frontier Communications Corp		1,794
	59,446	*	General Communication, Inc (Class A)		2,425
	1,230,156	*,e	Globalstar, Inc		2,005
	25,571		Globe Telecom, Inc		1,033
	14,283	*	Hawaiian Telcom Holdco, Inc		426
	228,328		Hellenic Telecommunications Organization S.A.		2,765
	1,634,763	*	Himachal Futuristic Communications		605
	2,333,000		HKBN Ltd		2,437
	2,909,127		HKT Trust and HKT Ltd		3,534
	1,254,651	e	Hutchison Telecommunications Hong Kong Holdings Ltd		459
	1,441,599		Idea Cellular Ltd		1,712
	35,437		IDT Corp (Class B)		499
	20,575		Iliad S.A.		5,469
	146,850	g	Infrastrutture Wireless Italiane S.p.A		972
	364,685		Inmarsat plc		3,147
	71,159	*,e	Intelsat S.A.		334
	162,756	*,e	Iridium Communications, Inc		1,676
	53,700	*,e	Japan Communications, Inc		67
	1,548,200		Jasmine International PCL		381
	890,243		Kcom Group plc		1,181
	1,027,352		KDDI Corp		27,081
	3,455,082		Koninklijke KPN NV		11,857
	20,858		KT Corp		532
	248,674	*,†,e,m	Let’s GOWEX S.A.		3
	758,036	*	Level 3 Communications, Inc		40,396
	41,997	*	Lumos Networks Corp		753
	1,086,999		Magyar Telekom		1,979
	5,400,790		Maxis BHD		7,418
	24,562		MegaFon OAO (GDR)		283
	50,291		Millicom International Cellular S.A.		3,322
	935,818		Mobile TeleSystems (ADR)		9,770
	1,197,109	e	MobileOne Ltd		1,573
	64,789		Mobistar S.A.		1,499
	1,824,415		MTN Group Ltd		16,774
	493,433		Netia S.A.		517
	1,221,233		Nippon Telegraph & Telephone Corp		55,958
	2,394,845		NTT DoCoMo, Inc		54,738
	2,907	e	Numericable-SFR  SAS		119
	34,790	*	Ooma, Inc		367
	167,273		Ooredoo QSC		3,803
	1,919,444	*	Orascom Telecom Holding SAE		698
	33,053,456		Orascom Telecom Media And Technology Holding SAE		1,442
	127,497	*	Orbcomm, Inc		1,335
	70,313	*	Partner Communications		379
	8,370,842		PCCW Ltd		4,544
	18,653	*,e	pdvWireless, Inc		556
	170,242		PLDT, Inc		5,559
	150,467		Proximus plc		5,187
	2,561,211	*	PT Excelcomindo Pratama		712
	646,900		PT Link Net Tbk		248
	117,602,024		PT Telekomunikasi Indonesia Persero Tbk		40,900
	611,495	*	Reliance Communication Ventures Ltd		180
	1,059,462		Rogers Communications, Inc (Class B)		54,631

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	174,189		Rostelecom (ADR)	$	1,272
	185,902	*	Sejong Telecom, Inc		94
	89,365		Shenandoah Telecom Co		3,324
	14,949,363		Singapore Telecommunications Ltd		40,639
	97,174		SK Telecom Co Ltd		21,682
	384,377	e	SmarTone Telecommunications Holding Ltd		461
	985,866		Softbank Corp		79,950
	132,780		SpeedCast International Ltd		416
	36,463		Spok Holdings, Inc		560
	1,485,743	*,e	Sprint Corp		11,559
	442,640	e	StarHub Ltd		850
	18,399	*	Straight Path Communications, Inc		3,324
	103,293	g	Sunrise Communications Group AG.		8,516
	22,774		Swisscom AG.		11,676
	1,405,942		Taiwan Mobile Co Ltd		5,011
	485,622	e	TalkTalk Telecom Group plc		1,365
	102,913		Tata Communications Ltd		1,081
	823,235		TDC AS		4,828
	1,490,435		Tele2 AB (B Shares)		17,079
	3,801,351		Telecom Corp of New Zealand Ltd		10,036
	946,724		Telecom Egypt		696
	22,436,417		Telecom Italia RSP		16,886
	20,906,227	*	Telecom Italia S.p.A.		19,611
	803,499		Telefonica Brasil S.A.		12,804
	670,697		Telefonica Deutschland Holding AG.		3,769
	141,069		Telefonica O2 Czech Republic AS		1,733
	4,762,394		Telefonica S.A.		51,753
	214,466		Telekom Austria AG.		1,946
	260,083		Telekom Malaysia BHD		401
	559,256		Telekomunikacja Polska S.A.		811
	1,016,397		Telenor ASA		21,532
	733,392		Telephone & Data Systems, Inc		20,454
	833,801	*	Telesites SAB de C.V.		640
	2,059,144		TeliaSonera AB		9,710
	1,868,193		Telkom S.A. Ltd		8,181
	6,907,881		Telstra Corp Ltd		18,924
	196,639		TELUS Corp		7,073
	177,300		Thaicom PCL		88
	1,124,484		Tim Participacoes S.A.		4,101
	389,820		Time dotCom BHD		820
	2,357,920		TM International BHD		2,931
	1,981,259	*	T-Mobile US, Inc		122,164
	1,940,483		Tower Bersama Infrastructure		948
	464,976	e	TPG Telecom Ltd		1,780
	13,053,616		True Corp PCL		2,392
	1,161,201		Turk Telekomunikasyon AS		2,215
	2,534,710		Turkcell Iletisim Hizmet AS		9,015
	34,471	*	US Cellular Corp		1,220
	11,741,898		Verizon Communications, Inc		581,106
	519,465	e	Vocus Communications Ltd		976
	596,896		Vodacom Group Pty Ltd		7,101
	46,876,651		Vodafone Group plc		131,263
	2,360		Vodafone Group plc (ADR)		67
	230,047	*	Vodafone Qatar		537
	739,840	*	Vonage Holdings Corp		6,022
	561,989	e	Windstream Holdings, Inc		995

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	410,511	*	Zayo Group Holdings, Inc	$	14,130
			TOTAL TELECOMMUNICATION SERVICES		2,937,631
TRANSPORTATION - 2.3%
	635,824		Abertis Infraestructuras S.A. (Continuous)		12,854
	66,412		Aegean Airlines S.A.		635
	84,168	g	Aena S.A.		15,211
	10,000	g	Aeroflot PJSC (ADR)		166
	37,117		Aeroports de Paris		6,000
	5,237,319		Air Arabia PJSC		1,629
	192,354	*	Air Canada		4,045
	1,919,225		Air China Ltd		1,596
	302,452	*	Air France-KLM		4,770
	2,487,129		Air New Zealand Ltd		6,059
	110,601	*	Air Transport Services Group, Inc		2,692
	9,204,758		AirAsia BHD		7,528
	9,621,525	*	AirAsia X BHD		867
	4,797,400		Airports of Thailand PCL		8,487
	553,195		Alaska Air Group, Inc		42,192
	1,163,194	*,e,g	ALD S.A.		18,789
	228,846		All Nippon Airways Co Ltd		8,668
	14,729		Allcargo Logistics Ltd		38
	24,720		Allegiant Travel Co		3,256
	12,460		Amerco, Inc		4,671
	1,273,016		American Airlines Group, Inc		60,455
	634,771	*,†,b,m	AMR Corp (Escrow)		6
	280,000	e	Anhui Expressway Co		214
	4,758		AP Moller - Maersk AS (Class A)		8,759
	5,497		AP Moller - Maersk AS (Class B)		10,467
	100,413		Arkansas Best Corp		3,359
	73,358	*	Asiana Airlines		271
	46,069	*	Atlas Air Worldwide Holdings, Inc		3,031
	929,593		Auckland International Airport Ltd		4,328
	121,363		Autostrada Torino-Milano S.p.A.		3,148
	485,941		Autostrade S.p.A.		15,355
	834,592		Avianca Holdings S.A.		820
	231,736	*,e	Avis Budget Group, Inc		8,820
	648,200		Bangkok Airways Co Ltd		361
	135,150		Bangkok Aviation Fuel Services PCL		195
	7,445,753		Bangkok Expressway & Metro PCL		1,800
	755,199		BBA Aviation plc		3,022
	1,626,097		Beijing Capital International Airport Co Ltd		2,427
	330,600		Blue Bird Tbk PT		120
	6,072		Blue Dart Express Ltd		385
	668,059		Bollore		3,341
	298,212		bpost S.A.		8,869
	6,633,327		BTS Group Holdings PCL (Foreign)		1,702
	984,094		Canadian National Railway Co		81,535
	208,067		Canadian Pacific Railway Ltd (Toronto)		34,948
	212,660	e	Cathay Pacific Airways Ltd		322
	657,100		Cebu Air, Inc		1,419
	98,169		Central Japan Railway Co		17,228
	98,260	e	CH Robinson Worldwide, Inc		7,478
	1,579,335		China Airlines		596
	1,407,004	e	China Merchants Holdings International Co Ltd		4,358
	6,291,500		China Southern Airlines Co Ltd		4,336

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	411,245		Chorus Aviation, Inc	$	2,755
	46,000		Chu Kong Shipping Development		12
	1,740,299		Cia de Concessoes Rodoviarias		9,731
	94,775		Cia de Distribucion Integral Logista Holdings SAU		2,280
	1,522,610		ComfortDelgro Corp Ltd		2,340
	7,895,188	*	Compania SudAmericana de Vapores S.A.		422
	41,398		Container Corp Of India Ltd		854
	418,100	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		495
	143,135		Copa Holdings S.A. (Class A)		17,825
	73,000	*	Cosan Logistica S.A.		206
	414,000		Cosco International Holdings Ltd		176
	1,615,595		COSCO Pacific Ltd		1,802
	217,693		Costamare, Inc		1,345
	23,858	*	Covenant Transportation Group, Inc		691
	2,913,097		CSX Corp		158,065
	88,026	e	CTT-Correios de Portugal S.A.		531
	16,542	*	D/S Norden		354
	330,266		Dart Group plc		2,374
	38,524	*,e	Daseke, Inc		503
	457,075		Dazhong Transportation Group Co Ltd		317
	2,156,717		Delta Air Lines, Inc		103,997
	1,063,242		Deutsche Lufthansa AG.		29,568
	1,873,679		Deutsche Post AG.		83,518
	115,714		Dfds A.S.		6,618
	335,691		DP World Ltd		7,540
	899,152		DSV AS		68,116
	72,060	*,e	Eagle Bulk Shipping, Inc		326
	534,350		East Japan Railway Co		49,325
	273,225		easyJet plc		4,459
	50,813	*	Echo Global Logistics, Inc		958
	144,800		EcoRodovias Infraestrutura e Logistica S.A.		522
	15,300	*,e	eHi Car Services Ltd (ADR)		150
	1,735,237		El Al Israel Airlines		1,170
	609,027	g	Enav S.p.A		2,791
	63,589	g	Europcar Groupe S.A.		965
	886,401		Eva Airways Corp		433
	61,000		Evergreen International Storage & Transport Corp		28
	1,190,055	*	Evergreen Marine Corp Tawain Ltd		688
	3,190	e	Exchange Income Corp		89
	222,237		Expeditors International of Washington, Inc		13,303
	1,157,703		FedEx Corp		261,155
	330,139		Finnair Oyj		4,374
	751,804	*	Firstgroup plc		1,180
	56,919		Flughafen Zuerich AG.		12,882
	129,565		Forward Air Corp		7,415
	122,010		Fraport AG. Frankfurt Airport Services Worldwide		11,597
	269,379		Freightways Ltd		1,515
	17,800		Fukuyama Transporting Co Ltd		564
	103,500		Gateway Distriparks Ltd		362
	1,120,500		GD Express Carrier Bhd		169
	99,816	*,e	Genco Shipping & Trading Ltd		1,157
	133,625	*	Genesee & Wyoming, Inc (Class A)		9,890
	19,615		GLOVIS Co Ltd		2,539
	98,416		Go-Ahead Group plc		2,246
	68,000	*	Gol Linhas Aereas Inteligentes S.A.		287
	108,883	*,e	Golden Ocean Group Ltd		861

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	298,363	*	Grindrod Ltd	$	304
	361,693		Groupe Eurotunnel S.A.		4,360
	201,900	*,e	Grupo Aeromexico SAB de C.V.		373
	449,600		Grupo Aeroportuario del Centro Norte Sab de C.V.		2,491
	526,931		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		5,394
	184,110		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		3,504
	685,725		Guangdong Provincial Expressway Development Co Ltd		623
	648,000		Guangdong Yueyun Transportation Co Ltd		391
	170,355		Gujarat Pipavav Port Ltd		349
	22,051		Gulf Warehousing Co		259
	34,000		Hainan Meilan International Airport Co Ltd		32
	92,951		Hamburger Hafen und Logistik AG.		2,931
	29,213		Hanjin Kal Corp		538
	5,447		Hanjin Transportation Co Ltd		142
	372,925		Hankyu Hanshin Holdings, Inc		14,158
	25,180	*,g	Hapag-Lloyd AG.		1,065
	230,243	*	Hawaiian Holdings, Inc		8,646
	178,223		Heartland Express, Inc		4,470
	104,490	*,e	Hertz Global Holdings, Inc		2,336
	151,700		Hitachi Transport System Ltd		3,516
	2,370,739	e	Hopewell Highway Infrastructure Ltd		1,468
	173,048	*	Hub Group, Inc (Class A)		7,432
	5,115,513		Hutchison Port Holdings Trust		2,205
	2,731	*	ID Logistics Group		487
	149,457		Iino Kaiun Kaisha Ltd		696
	897,552		International Consolidated Airlines Group S.A.		7,153
	100,000		International Consolidated Airlines Group S.A. (London)		795
	426,477		International Container Term Services, Inc		875
	301,021		Irish Continental Group plc		2,004
	402,551		J.B. Hunt Transport Services, Inc		44,715
	898,287		Japan Airlines Co Ltd		30,408
	30,300	e	Japan Airport Terminal Co Ltd		1,080
	4,334		Jeju Air Co Ltd		136
	94,207	*	Jet Airways India Ltd		695
	1,045,500	*	JetBlue Airways Corp		19,373
	3,275,834		Jiangsu Express		5,031
	186,510		Jinzhou Port Co Ltd		99
	35,500		Julio Simoes Logistica S.A.		109
	282,294		Kamigumi Co Ltd		6,540
	276,402		Kansas City Southern Industries, Inc		30,039
	116,840	*,e	Kawasaki Kisen Kaisha Ltd		3,078
	33,319		Keihin Electric Express Railway Co Ltd		676
	81,717		Keio Corp		3,368
	19,361		Keisei Electric Railway Co Ltd		536
	1,051,547		Kerry Logistics Network Ltd		1,458
	122,218		Kintetsu Corp		4,547
	21,900		Kintetsu World Express, Inc		364
	365,347	*	Kirby Corp		24,095
	760,078	*,e	Knight-Swift Transportation Holdings, Inc		31,581
	70,800		Konoike Transport Co Ltd		1,079
	8,285	*	Korea Express Co Ltd		1,184
	8,003	*	Korea Line Corp		243

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,721	*	Korean Air Lines Co Ltd	$	909
	18,028		Kuehne & Nagel International AG.		3,341
	113,000	e	Kyushu Railway Co		3,361
	299,881		Lan Airlines S.A.		3,948
	92,247		Landstar System, Inc		9,192
	69,900		Lingkaran Trans Kota Holdings BHD		96
	488,037		Localiza Rent A Car		8,893
	683,648		Macquarie Atlas Roads Group		2,916
	177,592		Macquarie Infrastructure Co LLC		12,819
	787,106		Malaysia Airports Holdings BHD		1,584
	74,923		Marten Transport Ltd		1,540
	87,000		Maruzen Showa Unyu Co Ltd		408
	195,567		Matson, Inc		5,511
	2,992,456		MISC BHD		5,180
	40,550	e	Mitsubishi Logistics Corp		1,009
	43,221		Mitsui OSK Lines Ltd		1,311
	56,610		Mitsui-Soko Co Ltd		167
	57,700	*	Movida Participacoes S.A.		153
	1,790,673		MTR Corp		10,485
	1,126,078		Mundra Port and Special Economic Zone Ltd		6,506
	127,411	e	Nagoya Railroad Co Ltd		2,744
	1,058,400		Namyong Terminal PCL		194
	106,800		Nankai Electric Railway Co Ltd		2,643
	838,799		National Express Group plc		3,978
	287,364	*,e	Navios Maritime Holdings, Inc		480
	783	*,g	Navkar Corp Ltd		2
	23,326		Nippon Express Co Ltd		1,521
	119,100		Nippon Konpo Unyu Soko Co Ltd		2,947
	212,508		Nippon Yusen Kabushiki Kaisha		4,422
	46,600		Nishi-Nippon Railroad Co Ltd		1,122
	37,600		Nissin Corp		976
	268,832	g	Nobina AB		1,571
	474,957		Norfolk Southern Corp		62,808
	82,945		Northgate plc		482
	17,781	*,e	Norwegian Air Shuttle AS		519
	33,418		Odakyu Electric Railway Co Ltd		634
	69,146		Oesterreichische Post AG.		3,192
	132,756		Old Dominion Freight Line		14,618
	160,500		Orient Overseas International Ltd		1,510
	2,811,290	*	Pacific Basin Shipping Ltd		637
	6,641	e	Panalpina Welttransport Holding AG.		974
	16,546		Park-Ohio Holdings Corp		754
	27,637	*	Pegasus Hava Tasimaciligi AS.		193
	65,700	*	PKP Cargo S.A.		1,035
	631,500		Pos Malaysia & Services Holdings BHD		786
	511,950	*	Precious Shipping PCL		174
	210,802		Promotora y Operadora de Infraestructura SAB de C.V.		2,231
	49,900	*	Prumo Logistica S.A.		176
	12,753,500	*,†,m	PT Berlian Laju Tanker Tbk		0	^
	3,300,500	*	PT Garuda Indonesia Tbk		82
	2,297,954		PT Jasa Marga Tbk		955
	3,133,754		Qantas Airways Ltd		14,354
	1,734,000	g	Qingdao Port International Co Ltd		1,106
	507,000		Qinhuangdao Port Co Ltd		174
	1,995,092		QR National Ltd		7,688

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	643,148	e	Qube Logistics Holdings Ltd	$	1,249
	599,314	*	Radiant Logistics, Inc		3,182
	484,042		Redde plc		1,167
	121,292	*	Roadrunner Transportation Services Holdings, Inc		1,156
	1,561,431		Royal Mail plc		8,040
	1,067,200	*	Rumo S.A.		4,074
	3,051	*	Ryanair Holdings plc		59
	232,356	*	Ryanair Holdings plc (ADR)		24,495
	99,065		Ryder System, Inc		8,376
	97,401	*	Safe Bulkers, Inc		267
	48,400		Sagami Railway Co Ltd		1,170
	48,742	*	Saia, Inc		3,054
	96	*,†,m	SAir Group		0
	6,400		Sakai Moving Service Co Ltd		338
	124,000		Sankyu, Inc		5,252
	160,600		Santos Brasil Participacoes S.A.		177
	143,951	*,e	SAS AB		462
	60,774		Schneider National, Inc		1,538
	106,526	*	Scorpio Bulkers, Inc		751
	31,834	e	Seaspan Corp		226
	169,481		Seino Holdings Corp		2,382
	89,700		Senko Co Ltd		640
	103,800		Shandong Airlines Co Ltd		185
	114,900		Shanghai Jinjiang International Investment Holdings Co		159
	46,700	*	Shenzhen Chiwan Petroleum		122
	89,100		Shenzhen Chiwan Wharf Holdings Ltd		152
	464,000		Shenzhen Expressway Co Ltd		451
	1,084,386		Shenzhen International Holdings Ltd		2,044
	29,600		Shinwa Kaiun Kaisha Ltd		649
	80,121	*	Shipping Corp of India Ltd		110
	1,027,097		Shun TAK Holdings Ltd		459
	2,622,000		Sichuan Expressway Co Ltd		1,057
	79,000		Sincere Navigation		56
	364,949		Singapore Airlines Ltd		2,706
	444,000		Singapore Airport Terminal Services Ltd		1,511
	927,919	e	Singapore Post Ltd		856
	1,299,000		Sinotrans Ltd		662
	945,000		Sinotrans Shipping Ltd		274
	4,045,000		SITC International Co Ltd		3,674
	13,910	e	Sixt AG.		1,108
	36,025		Sixt AG. (Preference)		2,222
	8,503		Sixt Leasing AG.		217
	135,455		Skywest, Inc		5,946
	294,659		Societa Iniziative Autostradali e Servizi S.p.A.		4,707
	1,638,052		Southwest Airlines Co		91,698
	1,080,032	*	SpiceJet Ltd		2,120
	314,468	*	Spirit Airlines, Inc		10,506
	265,883		Stagecoach Group plc		608
	33,964		Stolt-Nielsen S.A.		512
	57,048	e	Student Transportation, Inc		341
	180,492	*	STX Pan Ocean Co Ltd		851
	360,767	e	Sumitomo Warehouse Co Ltd		2,397
	1,311,415		Sydney Airport		7,324
	278,000		T.Join Transportation Co		332
	1,650,000		Taiwan High Speed Rail Corp		1,310

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	145,819		TAV Havalimanlari Holding AS	$	723
	179,800		Tegma Gestao Logistica		1,147
	120,290		TFI International, Inc		3,100
	695,900	*	Thai Airways International PCL-Foreign		380
	690,935		Thoresen Thai Agencies PCL		204
	4,520,000		Tianjin Port Development Holdings Ltd		720
	264,404		TNT NV		1,139
	132,607		Tobu Railway Co Ltd		3,643
	792,137		Tokyu Corp		11,219
	4,400		Trancom Co Ltd		242
	1,622,230		Transurban Group (ASE)		15,149
	498,984	*	Turk Hava Yollari		1,225
	278,000		U-Ming Marine Transport Corp		315
	4,045,993		Union Pacific Corp		469,214
	736,289	*	United Continental Holdings, Inc		44,825
	1,318,318		United Parcel Service, Inc (Class B)		158,317
	18,952		Universal Truckload Services, Inc		388
	60,603	*	Virgin Australia Holdings Ltd		9
	67,336	*,†,m	Virgin Australia Int Holdings		0
	16,099		VRL Logistics Ltd		90
	26,105	e	VTG AG.		1,451
	274,000		Wan Hai Lines Ltd		167
	91,656		Werner Enterprises, Inc		3,350
	88,302		West Japan Railway Co		6,139
	18,134		WestJet Airlines Ltd		386
	524,300		Westports Holdings BHD		474
	133,353	e	Westshore Terminals Investment Corp		2,564
	64,147	*	Wilh. Wilhelmsen ASA		393
	72,844		Wisdom Marine Lines Co Ltd		66
	2,450,000		Xiamen International Port Co Ltd		465
	350,644	*	XPO Logistics, Inc		23,767
	42,266	e	Yamato Transport Co Ltd		854
	396,260	*	Yang Ming Marine Transport		165
	224,625	*	YRC Worldwide, Inc		3,100
	1,092,000		Yuexiu Transport Infrastructure Ltd		822
	10,700		Yusen Air & Sea Service Co Ltd		98
	5,792,194		Zhejiang Expressway Co Ltd		7,215
			TOTAL TRANSPORTATION		2,824,811
UTILITIES - 2.7%
	1,758,820		A2A S.p.A.		3,026
	3,626,110		Aboitiz Power Corp		3,059
	76,700		Acciona S.A.		6,175
	178,709		ACEA S.p.A.		2,771
	418,220		Actelios S.p.A.		794
	571,038	*	Adani Power Ltd		259
	173,117	*	Adani Transmissions Ltd		406
	1,864,144		AES Corp		20,543
	2,485,395		AES Gener S.A.		870
	100,900	*	AES Tiete S.A.		454
	348,364	*,†,e,m	AET&D Holdings No 1  Ptd Ltd		0
	875,158		AGL Energy Ltd		16,070
	3,143,647		Aguas Andinas S.A.		2,000
	104,213	*	Aksa Enerji Uretim AS		100
	238,298	e	Algonquin Power & Utilities Corp		2,519
	117,675		Allete, Inc		9,095

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	237,366		Alliant Energy Corp	$	9,867
	313,210		Alupar Investimento S.A.		1,857
	236,650		Ameren Corp		13,688
	3,117,653		American Electric Power Co, Inc		218,984
	68,762		American States Water Co		3,387
	459,100		American Water Works Co, Inc		37,146
	1,069,185		APA Group		7,014
	186,381		Aqua America, Inc		6,186
	22,769	*,e	AquaVenture Holdings Ltd		307
	17,366		Artesian Resources Corp		656
	146,306		Ascopiave S.p.A.		606
	227,298		Atco Ltd		8,343
	128,125		Athens Water Supply & Sewage Co S.A.		934
	422,209	*	Atlantic Power Corp		1,034
	180,675	*	Atlantic Power Corp (Toronto)		445
	142,852		Atmos Energy Corp		11,977
	1,273,335		AusNet Services		1,690
	113,002		Avangrid, Inc		5,359
	126,524		Avista Corp		6,550
	391,298		Aygaz AS		1,654
	3,188,800	*	Babcock & Brown Wind Partners		1,904
	684,400		BCPG PCL		396
	4,424,191		Beijing Enterprises Water Group Ltd		3,578
	3,104,000	*	Beijing Gas Blue Sky Holding		207
	15,373,100		Benpres Holdings Corp		1,830
	81,378		BKW S.A.		4,889
	101,596	e	Black Hills Corp		6,997
	38,034	e	Boralex, Inc		655
	41,932	*,e	Cadiz, Inc		533
	91,387		California Water Service Group		3,486
	428,445	*	Calpine Corp		6,320
	109,597		Canadian Utilities Ltd		3,404
	390,000	e	Canvest Environment Protection Group Co Ltd		214
	242,431		Capital Power Corp		4,793
	53,938	e	Capital Stage AG.		403
	881,087		Centerpoint Energy, Inc		25,737
	288,400	*	Centrais Eletricas Brasileiras S.A.		1,799
	211,879		Centrais Eletricas Brasileiras S.A. (Preference)		1,518
	8,585,600		Centrica plc		21,519
	91,048		CESC Ltd		1,377
	163,611		CEZ AS		3,286
	4,612,000	e	CGN New Energy Holdings Co Ltd		633
	9,986,000	g	CGN Power Co Ltd		2,772
	51,941		Chesapeake Utilities Corp		4,064
	1,591,000		China Datang Corp Renewable Power Co Ltd		200
	255,400	e	China Everbright Water Ltd		80
	1,646,308		China Gas Holdings Ltd		4,941
	3,156,627		China Longyuan Power Group Corp		2,363
	3,048,000	e	China Oil and Gas Group Ltd		207
	208,500		China Power Clean Energy Development Co Ltd		118
	3,284,796		China Power International Development Ltd		1,083
	865,580		China Resources Gas Group Ltd		3,021
	7,514,983		China Resources Power Holdings Co		13,611
	456,000	e	China Water Affairs Group Ltd		324
	856,000	*	China Water Industry Group Ltd		179
	689,836		Chubu Electric Power Co, Inc		8,573

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	195,352	e	Chugoku Electric Power Co, Inc	$	2,075
	15,500		Cia de Gas de Sao Paulo-COMGAS		270
	1,077,600		Cia de Saneamento Basico do Estado de Sao Paulo		11,323
	40,280		Cia de Saneamento de Minas Gerais-COPASA		544
	2,089,200		Cia de Saneamento do Parana		7,137
	688,033		Cia Energetica de Minas Gerais		1,734
	118,900		Cia Energetica de Sao Paulo (Class B)		542
	8,504		Cia Energetica do Ceara		145
	94,960		Cia Paranaense de Energia		846
	807,844		CK Infrastructure Holdings Ltd		6,964
	1,459,700		CK Power PCL		156
	2,111,144		CLP Holdings Ltd		21,674
	282,743		CMS Energy Corp		13,097
	12,088,669		Colbun S.A.		2,923
	21,970		Connecticut Water Service, Inc		1,303
	263,010		Consolidated Edison, Inc		21,220
	30,770	e	Consolidated Water Co, Inc		394
	945,283		Contact Energy Ltd		3,759
	219,046		CPFL Energia S.A.		1,883
	1,506,000	e	CT Environmental Group Ltd		217
	1,406,747		Dominion Resources, Inc		108,221
	403,238	g	DONG Energy A.S.		23,115
	251,263		Drax Group plc		1,048
	1,051,022		DTE Energy Co		112,838
	1,362,299		Duke Energy Corp		114,324
	701,829	*,e	Dynegy, Inc		6,871
	1,352,274	*	E.CL SA		2,915
	4,771,119		E.ON AG.		54,087
	752,502		Edison International		58,071
	298,478		EDP - Energias do Brasil S.A.		1,427
	152,280		El Paso Electric Co		8,413
	251,700		Electric Power Development Co		6,323
	1,286,217		Electricite de France		15,622
	28,000		Electricity Generating PCL		197
	66,900		Eletropaulo Metropolitana de Sao Paulo S.A.		268
	27,690		Elia System Operator S.A.		1,604
	47,624		Emera, Inc		1,804
	3,321,417		Empresa Nacional de Electricidad S.A.		2,898
	676,422		Endesa S.A.		15,263
	921,614		Enea S.A.		3,738
	9,073,553		Enel S.p.A.		54,662
	871,246		Energa S.A.		3,203
	2,398,672		Energias de Portugal S.A.		9,045
	1		Energix-Renewable Energies Ltd		0
	467,632	*	Energy World Corp Ltd		143
	56,864,829		Enersis Chile S.A.		6,933
	28,763,092		Enersis S.A.		5,886
	564,541		Engie Brasil Energia S.A.		6,462
	809,228		ENN Energy Holdings Ltd		5,863
	219,879		Entergy Corp		16,790
	194,000		Equatorial Energia S.A.		3,752
	18,800	e	eRex Co Ltd		175
	39,731		ERG S.p.A.		635
	278,163		Eversource Energy		16,812
	60,725		EVN AG.		948
	3,512,173		Exelon Corp		132,304

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	54,222	m	Federal Grid Co Unified Energy System JSC (GDR)	$	81
	964,700		First Gen Corp		359
	626,090		First Philippine Holdings Corp		837
	5,532,125		FirstEnergy Corp		170,555
	321,406		Fortis, Inc		11,535
	372,206		Fortum Oyj		7,437
	874,203		GAIL India Ltd		5,616
	547,200		Gas Malaysia BHD		371
	324,041		Gas Natural SDG S.A.		7,178
	2,161,638		Gaz de France		36,708
	19,038,000	*,e	GCL New Energy Holdings Ltd		1,270
	951,395		Genesis Energy Ltd		1,643
	30,821		Genie Energy Ltd		202
	168,900		Global Power Synergy Co Ltd (Foreign)		234
	20,940	e	Global Water Resources, Inc		197
	316,271		Glow Energy PCL (Foreign)		846
	227,055		Great Plains Energy, Inc		6,880
	1,867,066		Guangdong Investments Ltd		2,666
	55,223		Gujarat Gas Co Ltd		708
	87,171		Gujarat State Petronet Ltd		267
	116,809		Hawaiian Electric Industries, Inc		3,898
	667,910		Hera S.p.A.		2,101
	1,731,552	e,g	HK Electric Investments & HK Electric Investments Ltd		1,580
	142,400		Hokkaido Electric Power Co, Inc		1,017
	153,500	e	Hokuriku Electric Power Co		1,288
	87,700	*	Holding CO ADMIE IPTO S.A.		191
	6,687,277		Hong Kong & China Gas Ltd		12,601
	1,368,819		Hong Kong Electric Holdings Ltd		11,881
	277,230	*	Huadian Energy Co Ltd		136
	6,066,000		Huadian Fuxin Energy Corp Ltd		1,403
	20,481,756		Huaneng Power International, Inc		12,695
	4,472,000		Huaneng Renewables Corp Ltd		1,482
	476,800		Hub Power Co Ltd		506
	220,049	g	Hydro One Ltd		4,007
	1,100,000	e	Hyflux Ltd		405
	7,017,672		Iberdrola S.A.		54,567
	174,770		Idacorp, Inc		15,368
	105,685	*	Indiabulls Infrastructure and Power Ltd		10
	2,710,243	e	Infraestructura Energetica ,NV SAB de C.V.		15,175
	1,640,402		Infratil Ltd		3,698
	90,123		Innergex Renewable Energy, Inc		1,038
	258,298	g	Innogy SE		11,507
	1,027,900	†,m	Inter Far East Energy Corp		0	^
	686,638		Interconexion Electrica S.A.		3,199
	1,110,468		Inversiones Aguas Metropolitanas S.A.		1,969
	1,822,225		Iride S.p.A.		4,889
	36,164	e	iShares NASDAQ Biotechnology ETF		12,064
	308,605		Italgas S.p.A		1,733
	62,467		Just Energy Income Fund		362
	8,400		K&O Energy Group, Inc		137
	395,000	g	Kangda International Environmental Co Ltd		86
	1,049,915		Kansai Electric Power Co, Inc		13,438
	9,435	*	Kenon Holdings Ltd		154
	4,075,000	*	Kong Sun Holdings Ltd		196

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,935		Korea District Heating Corp	$	1,025
	223,115		Korea Electric Power Corp		7,580
	18,689		Korea Gas Corp		688
	475,577		Kyushu Electric Power Co, Inc		5,052
	52,900		Light S.A.		328
	15,359		Mahanagar Gas Ltd		258
	1,473,400		Manila Water Co, Inc		896
	454,005		MDU Resources Group, Inc		11,781
	849,293	*	Meridian Energy Ltd		1,745
	68,601		MGE Energy, Inc		4,432
	44,318		Middlesex Water Co		1,740
	581,542		Mighty River Power Ltd		1,424
	825,916	m	Mosenergo PJSC (ADR)		2,174
	108,074	e	National Fuel Gas Co		6,118
	5,058,760		National Grid plc		62,655
	164,907		New Jersey Resources Corp		6,951
	1,553,921		NextEra Energy, Inc		227,727
	605,836		NiSource, Inc		15,503
	325,131	e	Northland Power Income Fund		6,035
	66,828		Northwest Natural Gas Co		4,304
	93,135		NorthWestern Corp		5,303
	791,829		NRG Energy, Inc		20,263
	236,718		NRG Yield, Inc (Class A)		4,491
	122,563		NRG Yield, Inc (Class C)		2,365
	2,763,001		NTPC Ltd		7,088
	531,093		OGE Energy Corp		19,135
	279,220		Okinawa Electric Power Co, Inc		6,139
	132,475		ONE Gas, Inc		9,755
	128,657		Ormat Technologies, Inc		7,855
	384,038		Osaka Gas Co Ltd		7,138
	109,740		Otter Tail Corp		4,757
	193,531	*,e	Pampa Energia S.A. (ADR)		12,599
	2,290,000	*,e	Panda Green Energy Group Ltd		302
	411,209		Pattern Energy Group, Inc		9,910
	812,918		Pennon Group plc		8,680
	499,291		Petronas Gas BHD		2,120
	2,980,013		PG&E Corp		202,909
	203,654		Pinnacle West Capital Corp		17,221
	198,037		PNM Resources, Inc		7,981
	802,967		Polska Grupa Energetyczna S.A.		2,929
	171,153		Portland General Electric Co		7,811
	5,394		Poweo		305
	1,309,824		PPL Corp		49,708
	11,420,132		PT Perusahaan Gas Negara Persero Tbk		1,337
	2,075,458		PTC India Ltd		3,912
	74,073	*	Public Power Corp		175
	558,769		Public Service Enterprise Group, Inc		25,843
	34,704	*	Pure Cycle Corp		260
	27,991		Qatar Electricity & Water Co		1,344
	500,000		Ratchaburi Electricity Generating Holding PCL (ADR)		806
	317,326		Red Electrica Corp S.A.		6,675
	600,730		Redes Energeticas Nacionais S.A.		1,958
	185,245		Reliance Energy Ltd		1,322
	344,726	*	Reliance Power Ltd		217

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,645		RGC Resources, Inc	$	390
	122,837		Rubis S.C.A		7,831
	2,328,199		RusHydro PJSC (ADR)		3,349
	617,121	*	RWE AG.		14,039
	25,472		Saeta Yield S.A.		291
	6,654		Samchully Co Ltd		587
	287,344		SCANA Corp		13,933
	44,405	g	Scatec Solar ASA		233
	1,150,576		Scottish & Southern Energy plc		21,530
	14,385		Sechilienne-Sidec		324
	1,392,595		Sempra Energy		158,937
	225,877		Severn Trent plc		6,579
	126,300	*	Shanghai Lingyun Industries Development Co Ltd		140
	464,000	e	Shikoku Electric Power Co, Inc		5,456
	31,900		Shizuoka Gas Co Ltd		253
	16,893,480	e	SIIC Environment Holdings Ltd		6,663
	96,947		SJW Corp		5,487
	128,000	*,†,m	Sound Global Ltd		0	^
	339,965		South Jersey Industries, Inc		11,739
	1,342,977		Southern Co		65,994
	248,816		Southwest Gas Corp		19,313
	32,501	e	Spark Energy, Inc		488
	1,433,696		Spark Infrastructure Group		2,838
	78,200		SPCG PCL		48
	95,640		Spire, Inc		7,140
	750,372		Suez Environnement S.A.		13,701
	7,817,900	*	Superblock PCL-Foreign		305
	303,078		Superior Plus Corp		3,070
	275,450		Taiwan Cogeneration Corp		211
	345,600		Taliworks Corp BHD		111
	1,965,819		Tata Power Co Ltd		2,345
	1,844,126		Tauron Polska Energia S.A.		1,895
	52,774		Telecom Plus plc		768
	4,587,441		Tenaga Nasional BHD		15,567
	30,831		Terna Energy S.A.		148
	1,103,048		Terna Rete Elettrica Nazionale S.p.A.		6,445
	172,755		TerraForm Global, Inc		821
	155,147		TerraForm Power, Inc		2,051
	718,300		Thai Tap Water Supply PCL		233
	248,000		Tianjin Development Hldgs Ltd		128
	51,975		Toho Gas Co Ltd		1,522
	307,594		Tohoku Electric Power Co, Inc		3,914
	1,712,519	*	Tokyo Electric Power Co, Inc		6,918
	609,563		Tokyo Gas Co Ltd		14,927
	186,239		Torrent Power Ltd		601
	612,944		Towngas China Co Ltd		431
	266,796		TransAlta Corp		1,561
	173,714		TransAlta Renewables, Inc		1,917
	181,700		Transmissora Alianca de Energia Eletrica S.A.		1,276
	105,913	*,m	Tube Investments of India Ltd		394
	218,434		UGI Corp		10,236
	375,770		Uniper SE		10,313
	519,501		United Utilities Group plc		5,948
	31,571		Unitil Corp		1,561
	27,293		VA Tech Wabag Ltd		247
	55,042	e	Valener, Inc		973

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,000		Vanguard FTSE Developed Markets ETF	$	1,085
	138,645		Vectren Corp		9,119
	621,302		Veolia Environnement		14,357
	720,599		Vistra Energy Corp		13,468
	45,931	*,e	Vivint Solar, Inc		156
	271,814		WEC Energy Group, Inc		17,064
	216,924		Westar Energy, Inc		10,759
	97,438		WGL Holdings, Inc		8,204
	1,200,205		Xcel Energy, Inc		56,794
	25,400		York Water Co		861
	3,800,285		YTL Corp BHD		1,225
	4,727,750		YTL Power International BHD		1,534
	203,000	e	Yunnan Water Investment Co Ltd		88
	510,411	*	Zorlu Enerji Elektrik Uretim AS		221
			TOTAL UTILITIES		3,322,160
			TOTAL COMMON STOCKS		122,120,064
			(Cost $102,642,621)
PURCHASED OPTIONS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	2,000		S&P 500 Index		5
	2,000		S&P 500 Index		254
	4,500		S&P 500 Index		33
			TOTAL DIVERSIFIED FINANCIALS		292
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	1,500		BioMarin Pharmaceutical, Inc		6
	1,500		Illumina, Inc		28
	500		Seattle Genetics, Inc		0	^
	1,500		Vertex Pharmaceuticals, Inc		3
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		37
RETAILING - 0.0%
	3,000		Home Depot, Inc		24
			TOTAL RETAILING		24
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	5,000		Cisco Systems, Inc		2
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		2
			TOTAL PURCHASED OPTIONS		355
			(Cost $293)
PREFERRED STOCKS - 0.0%
BANKS - 0.0%
	5,676,641	*	ITAUSA Investimentos Itau PR		19,769
			TOTAL BANKS		19,769
CAPITAL GOODS - 0.0%
	3,300,256	*	Cairn India Ltd		518
	3,509		Villeroy & Boch AG		74
			TOTAL CAPITAL GOODS		592

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
DIVERSIFIED FINANCIALS - 0.0%
	300,000		Daishin Securities Co Ltd Pref 2	$	2,269
			TOTAL DIVERSIFIED FINANCIALS		2,269
MATERIALS - 0.0%
	292,716	*,m	UPL Ltd		76
			TOTAL MATERIALS		76
REAL ESTATE - 0.0%
	8,497,223	*,†,m	Ayala Land, Inc (Preferred B)		17
			TOTAL REAL ESTATE		17
			TOTAL PREFERRED STOCKS		22,723
			(Cost $19,704)
RIGHTS / WARRANTS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
	121,380	m	Sri Trang Agro-Industry PCL		10
	398,148		Tata Motors Ltd (DVR)		1,359
			TOTAL AUTOMOBILES & COMPONENTS		1,369
CAPITAL GOODS - 0.0%
	304,956	e,m	Abengoa S.A. (B Shares)		0
	201,335	m	China State Construction International Holdings Ltd		0
			TOTAL CAPITAL GOODS		0
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	95,129	m	Macquarie Atlas Roads Group		0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		0
CONSUMER SERVICES - 0.0%
	26,612		Ser Educacional S.A.		20
			TOTAL CONSUMER SERVICES		20
DIVERSIFIED FINANCIALS - 0.0%
	11,467	m	Emergent Capital, Inc		0
	413,600		Morgan Stanley BV		7,234
			TOTAL DIVERSIFIED FINANCIALS		7,234
ENERGY - 0.0%
	244,517	†,m	Ezion Holdings Ltd		5
	1,206	e,m	Seobu T&D		3
	1,591,993		UMW Oil & Gas Corp Bhd		2
			TOTAL ENERGY		10
FOOD & STAPLES RETAILING - 0.0%
	135,947	m	Safeway Casa Ley		0
	135,947	e,m	Safeway PDC LLC		0
			TOTAL FOOD & STAPLES RETAILING		0
FOOD, BEVERAGE & TOBACCO - 0.0%
	122,260		Thaifoods Group PCL		5
			TOTAL FOOD, BEVERAGE & TOBACCO		5

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	190,191		Community Health Systems, Inc	$	2
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		2
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	8,794	m	Able C&C Co Ltd		20
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		20
INSURANCE - 0.0%
	30,280	m	Hanwha General Insurance Co Ltd		22
			TOTAL INSURANCE		22
MATERIALS - 0.0%
	1,563,580		Superblock PCL		19
	14,694	m	Syrah Resources Ltd		0
			TOTAL MATERIALS		19
MEDIA - 0.0%
	81,400		RS PCL		18
			TOTAL MEDIA		18
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	2,121	e	BioTime, Inc		0	^
	55,620	†,e,m	Forest Laboratories, Inc CVR		53
	17,790	†,e,m	Omthera Pharmaceuticals, Inc		11
	20,027	*,e,m	Tobira Therapeutics, Inc		1
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		65
REAL ESTATE - 0.0%
	4,761,352	m	BGP Holdings plc		118
	231,006	m	CapitaLand Commercial Trust		50
	193,848	m	Manulife US Real Estate Investment Trust		43
	389,487	m	Mapletree Logistics Trust		28
	92,500	m	Supalai PCL		53
			TOTAL REAL ESTATE		292
SOFTWARE & SERVICES - 0.0%
	106,265		Equiniti Group plc		164
	141,205	†,m	Gerber Scientific, Inc		0
			TOTAL SOFTWARE & SERVICES		164
TRANSPORTATION - 0.0%
	2		Thoresen Thai Agencies PCL		0
			TOTAL TRANSPORTATION		0
UTILITIES - 0.0%
	20,351		Cosan Logistica S.A.		7
	457	m	Hyundai Construction Equipment Co Ltd		40
	414	m	Hyundai Electric & Energy System Co Ltd		16
	26,242		Westgold Resources Ltd		7
			TOTAL UTILITIES		70
			TOTAL RIGHTS / WARRANTS		9,310
			(Cost $8,922)

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 2.6%
GOVERNMENT AGENCY DEBT - 0.0%
$	49,300,000		Federal Home Loan Bank (FHLB)		0.600	%	10/02/17	$	49,300
			TOTAL GOVERNMENT AGENCY DEBT						49,300
TREASURY DEBT - 0.6%
	94,500,000		United States Treasury Bill		1.008		10/05/17		94,494
	145,290,000		United States Treasury Bill		0.926-0.936		10/12/17		145,253
	121,570,000		United States Treasury Bill		0.957-0.971		10/26/17		121,494
	56,100,000		United States Treasury Bill		0.971-0.987		11/02/17		56,054
	28,975,000		United States Treasury Bill		0.971		11/09/17		28,946
	100,000,000		United States Treasury Bill		0.941		11/16/17		99,880
	119,000,000		United States Treasury Bill		0.983		11/30/17		118,808
			TOTAL TREASURY DEBT						664,929
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.0%
CERTIFICATE OF DEPOSIT - 0.3%
	123,000,000		Bank of Montreal		1.000		10/02/17		123,000
	123,000,000		CIBC Bank and Trust Company		1.050		10/02/17		123,000
	123,000,000		National Australia Bank LTD		1.050		10/02/17		123,000
			TOTAL CERTIFICATE OF DEPOSIT						369,000
REPURCHASE AGREEMENT - 1.6%
	125,000,000	p	Barclays		1.040		10/02/17		125,000
	69,000,000	q	Calyon		1.030		10/02/17		69,000
	47,000,000	r	Citigroup		1.070		10/02/17		47,000
	150,000,000	s	Citigroup		1.050		10/06/17		150,000
	200,000,000	t	Citigroup		1.040		10/06/17		200,000
	50,000,000	u	HSBC		1.030		10/02/17		50,000
	44,000,000	v	JP Morgan		1.050		10/02/17		44,000
	240,000,000	w	Nomura		1.080		10/02/17		240,000
	299,000,000	x	Royal Bank of Scotland		1.050		10/02/17		299,000
	245,000,000	y	Royal Bank of Scotland		1.030		10/05/17		245,000
	360,000,000	z	Royal Bank of Scotland		1.050		10/06/17		360,000
	150,000,000	aa	Societe Generale		1.040		10/02/17		150,000
			TOTAL REPURCHASE AGREEMENT						1,979,000
VARIABLE RATE SECURITIES - 0.1%
	58,679,708	i	SLM Student Loan Trust		1.354		01/25/19		58,565
			TOTAL VARIABLE RATE SECURITIES						58,565
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						2,406,565
			TOTAL SHORT-TERM INVESTMENTS						3,120,794
			(Cost $3,120,887)
			TOTAL INVESTMENTS - 101.9%						125,273,940
			(Cost $105,793,195)
			OTHER ASSETS & LIABILITIES, NET - (1.9)%						(2,324,866	)
			NET ASSETS - 100.0%					$	122,949,074

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	Abbreviation(s):
	ADR	American Depositary Receipt
	CVR	Contingent Value Right
	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
^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
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 $2,445,661,000.
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 9/30/17, the aggregate value of these securities was $639,623,000 or 0.5% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
l	All or a portion of these securities have been segregated by the custodian to cover collateral requirements on swap agreements.
m	Indicates a security that has been deemed illiquid.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
p	Agreement with Barclays, 1.04% dated 9/29/17 to be repurchased at $125,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $125,011,000.
q	Agreement with Calyon, 1.03% dated 9/29/17 to be repurchased at $69,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $70,380,000.
r	Agreement with Citigroup, 1.07% dated 9/29/17 to be repurchased at $47,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $47,940,000.
s	Agreement with Citigroup, 1.05% dated 9/29/17 to be repurchased at $150,000,000 on 10/6/17, collateralized by U.S. Government Agency Securities valued at $153,000,000.
t	Agreement with Citigroup, 1.04% dated 9/29/17 to be repurchased at $200,000,000 on 10/6/17, collateralized by U.S. Government Agency Securities valued at $204,000,000.
u	Agreement with HSBC, 1.03% dated 9/29/17 to be repurchased at $50,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $51,000,000.
v	Agreement with JP Morgan, 1.05% dated 9/29/17 to be repurchased at $44,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $44,883,000.
w	Agreement with Nomura, 1.08% dated 9/29/17 to be repurchased at $240,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $244,800,000.
x	Agreement with Royal Bank of Scotland, 1.05% dated 9/29/17 to be repurchased at $299,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $304,982,000.
y	Agreement with Royal Bank of Scotland, 1.03% dated 9/28/17 to be repurchased at $245,000,000 on 10/5/17, collateralized by U.S. Government Agency Securities valued at $249,900,000.
z	Agreement with Royal Bank of Scotland, 1.05% dated 9/29/17 to be repurchased at $360,000,000 on 10/6/17, collateralized by U.S. Government Agency Securities valued at $367,204,000.
aa	Agreement with Societe Generale, 1.04% dated 9/29/17 to be repurchased at $150,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $153,000,000.
	Cost amounts are in thousands.

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Futures contracts outstanding as of September 30, 2017 were as follows (dollar amounts are in thousands) (See Note 3):

Description	Number of long (short) contracts		Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
Russell 2000 E Mini Index		250	12/15/17	$	17,467	$	18,661	$	1,194
S&P 500 E Mini Index		1,558	12/15/17		191,931		196,004		4,073
S&P Mid-Cap 400 E-Mini Index		135	12/15/17		23,206		24,242		1,036
Total		1,943		$	232,604	$	238,907	$	6,303

Purchased options outstanding as of September 30, 2017 were as follows (notional amounts and values are in thousands) (See Note 3):

Description/underlying investment	Number of contracts		Notional amount		Exercise price		Expiration date	Value
BioMarin Pharmaceutical, Inc, Call		15	$	13	$	100.00	1/19/18	$	6
Cisco Systems, Inc, Call		50		6		36.00	1/19/18		2
Home Depot, Inc, Call		30		19		160.00	1/19/18		24
Illumina, Inc, Call		15		25		190.00	12/15/17		28
S&P 500 Index, Call		45		38		2,600.00	12/15/17		33
S&P 500 Index, Call		20		126		2,400.00	12/15/17		254
S&P 500 Index, Put		20		42		2,350.00	10/31/17		5
Seattle Genetics, Inc, Call		5		5		75.00	12/15/17		0	^
Vertex Pharmaceuticals, Inc, Call		15		19		175.00	12/15/17		3
Total		215	$	293				$	355

Written options outstanding as of September 30, 2017 were as follows (notional amounts and values are in thousands) (See Note 3):

Description/underlying investment	Number of contracts		Notional amount			Exercise price		Expiration date	Value
Albemarle Corp, Call		15	$	(1)		$	150.00	10/20/17	$	(0	)^
Apple, Inc, Put		40		(9)			135.00	11/17/17		(2	)
BioMarin Pharmaceutical, Inc, Call		15		(8)			110.00	1/19/18		(3	)
BioMarin Pharmaceutical, Inc, Put		15		(5)			80.00	1/19/18		(3	)
Cavium, Inc, Put		30		(0)	^		55.00	10/20/17		(0	)^
Cisco Systems, Inc, Call		50		(2)			38.00	1/19/18		(0	)^
Cisco Systems, Inc, Put		50		(3)			28.00	1/19/18		(1	)
HD Supply Holdings, Inc, Put		25		(1)			25.00	12/15/17		(0	)^
Home Depot, Inc, Call		30		(9)			170.00	1/19/18		(10	)
Home Depot, Inc, Put		30		(11)			135.00	1/19/18		(2	)
Illumina, Inc, Call		30		(16)			230.00	12/15/17		(11	)
Illumina, Inc, Put		15		(10)			145.00	12/15/17		(2	)
Monsanto Co, Put		30		(6)			100.00	4/20/18		(6	)
Nike, Inc, Put		30		(1)			48.50	10/20/17		(0	)^
PepsiCo, Inc, Put		20		(1)			110.00	10/6/17		(1	)
Pinnacle Foods, Inc, Put		20		(3)			55.00	12/15/17		(4	)
Progressive Corp, Call		30		(1)			49.00	10/20/17		(2	)
Progressive Corp, Put		30		(0)	^		40.00	10/20/17		(0	)^
S&P 500 Index, Call		40		(114)			2,500.00	12/15/17		(212	)
S&P 500 Index, Put		30		(38)			2,100.00	12/15/17		(9	)
S&P 500 Index, Put		40		(41)			2,225.00	10/31/17		(4	)
Seattle Genetics, Inc, Call		10		(5)			90.00	12/15/17		(0	)^
Vertex Pharmaceuticals, Inc, Call		15		(10)			190.00	12/15/17		(1	)
Vertex Pharmaceuticals, Inc, Put		15		(8)			135.00	12/15/17		(5	)
Walt Disney Co, Put		30		(1)			92.50	10/20/17		(0	)^
WPX Energy, Inc, Put		50		(2)			7.00	11/17/17		(1	)
Total		735	$	(306)					$	(279	)

^ Amount represents less than $1,000.

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Bilateral total return swap contracts outstanding as of September 30, 2017 were as follows (dollar amounts are in thousands) (See Note 3):

Reference entity	Terms of payments to be paid	Terms of payments to be received	Counterparty	Maturity date	Notional amount		Value		Unrealized appreciation (depreciation)
GSVIUS71 Index	0.300%	Total return of GSVIUS71 as specified in contract	Goldman Sachs	11/6/17		$8,135		$8,210		$  75

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY

September 30, 2017

	Value		% of total
Country	(000)		portfolio
DOMESTIC
UNITED STATES	$	87,651,662		70.0	%
TOTAL DOMESTIC		87,651,662		70.0
FOREIGN
ARGENTINA		53,174		0.0
AUSTRALIA		1,365,862		1.1
AUSTRIA		245,252		0.2
BELGIUM		158,194		0.1
BERMUDA		124,913		0.1
BRAZIL		717,811		0.6
CANADA		2,498,091		2.0
CAYMAN ISLANDS		3,851		0.0
CHILE		118,490		0.1
CHINA		2,710,029		2.2
COLOMBIA		44,498		0.0
CYPRUS		67		0.0
CZECH REPUBLIC		22,180		0.0
DENMARK		493,185		0.4
EGYPT		17,046		0.0
FAROE ISLANDS		5,242		0.0
FINLAND		311,924		0.3
FRANCE		3,172,065		2.5
GEORGIA		4,687		0.0
GERMANY		2,438,494		2.0
GHANA		3,057		0.0
GREECE		31,634		0.0
GUERNSEY, C.I.		653		0.0
HONG KONG		890,342		0.7
HUNGARY		33,605		0.0
INDIA		850,191		0.7
INDONESIA		195,771		0.2
IRELAND		332,304		0.3
ISLE OF MAN		6,423		0.0
ISRAEL		178,151		0.1
ITALY		884,919		0.7
JAPAN		5,919,897		4.7
JERSEY, C.I.		9,937		0.0
JORDAN		1,962		0.0
KAZAKHSTAN		328		0.0
KOREA, REPUBLIC OF		1,299,364		1.0
LAO PEOPLE’S DEMOCRATIC REPUBLIC		46		0.0
LUXEMBOURG		99,794		0.1
MACAU		6,409		0.0
MALAYSIA		186,640		0.1
MALTA		7,393		0.0
MEXICO		284,744		0.2
MONACO		5,650		0.0
NETHERLANDS		1,356,329		1.1
NEW ZEALAND		91,866		0.1

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	Value		% of total
Country	(000)		portfolio
NORWAY	$	246,715		0.2	%
PAKISTAN		6,699		0.0
PANAMA		19,538		0.0
PERU		34,949		0.0
PHILIPPINES		119,008		0.1
POLAND		110,064		0.1
PORTUGAL		41,962		0.0
PUERTO RICO		29,433		0.0
QATAR		32,244		0.0
ROMANIA		5,028		0.0
RUSSIA		259,031		0.2
SINGAPORE		346,617		0.3
SOUTH AFRICA		547,880		0.5
SPAIN		715,249		0.6
SRI LANKA		5,242		0.0
SWEDEN		544,710		0.4
SWITZERLAND		1,898,791		1.5
TAIWAN		1,183,450		1.0
THAILAND		231,599		0.2
TURKEY		110,964		0.1
UNITED ARAB EMIRATES		75,938		0.1
UNITED KINGDOM		3,822,151		3.1
URUGUAY		33,414		0.0
ZAMBIA		19,138		0.0
TOTAL FOREIGN		37,622,278		30.0
TOTAL PORTFOLIO	$	125,273,940		100.0	%

179

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2017

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.2%
ARGENTINA - 0.2%
	603,952		Grupo Financiero Galicia S.A. (ADR) (Class B)	$	31,128
	7,101		Mercadolibre, Inc		1,839
	80,085	*,e	Pampa Energia S.A. (ADR)		5,213
			TOTAL ARGENTINA		38,180
AUSTRALIA - 1.4%
	140,578		AGL Energy Ltd		2,581
	644,785		Alumina Ltd		1,117
	218,940		Amcor Ltd		2,619
	908,025		AMP Ltd		3,448
	110,376		APA Group		724
	14,221		Aristocrat Leisure Ltd		235
	321,889	*,†,e,m	Arrium Ltd		3
	48,408		AusNet Services		64
	1,104,488		Australia & New Zealand Banking Group Ltd		25,727
	62,671		Australian Stock Exchange Ltd		2,583
	10,212		Bank of Queensland Ltd		104
	13,038		Bendigo Bank Ltd		119
	1,689,592		BHP Billiton Ltd		34,265
	575,767	e	BHP Billiton Ltd (ADR)		23,336
	841,571		BHP Billiton plc		14,850
	141,021		BlueScope Steel Ltd		1,218
	30,012		Boral Ltd		160
	258,069		Brambles Ltd		1,827
	6,962		Caltex Australia Ltd		176
	68,317		Challenger Financial Services Group Ltd		670
	35,796		CIMIC Group Ltd		1,244
	119,678		Coca-Cola Amatil Ltd		726
	1,356		Cochlear Ltd		170
	505,352	e	Commonwealth Bank of Australia		29,924
	97,010		Computershare Ltd		1,104
	10,043		Crown Resorts Ltd		89
	133,379		CSL Ltd		14,041
	71,089		Dexus Property Group		530
	1,319	e	Domino’s Pizza Enterprises Ltd		48
	1,400,000		Downer EDI Ltd		7,460
	71,877		DuluxGroup Ltd		396
	1,317	e	Flight Centre Travel Group Ltd		47
	799,325	e	Fortescue Metals Group Ltd		3,237
	107,346		GPT Group (ASE)		418
	12,694	e	Harvey Norman Holdings Ltd		39
	45,571		Healthscope Ltd		60
	142,837		Incitec Pivot Ltd		405
	590,478		Insurance Australia Group Ltd		2,957
	168,800		Lend Lease Corp Ltd		2,378

180

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	147,040		Macquarie Goodman Group	$	952
	54,423		Macquarie Group Ltd		3,896
	70,071		Medibank Pvt Ltd		161
	899,512		Mirvac Group		1,618
	390,495		National Australia Bank Ltd		9,682
	323,293		Newcrest Mining Ltd		5,321
	33,053		Oil Search Ltd		182
	76,789		Orica Ltd		1,195
	396,749	*	Origin Energy Ltd		2,337
	1,689,414		Orora Ltd		4,122
	72,671		Oxiana Ltd		425
	3,596		Perpetual Trustees Australia Ltd		147
	91,400		Qantas Airways Ltd		419
	423,204		QBE Insurance Group Ltd		3,336
	49,482		QR National Ltd		191
	7,700		Ramsay Health Care Ltd		377
	1,391		REA Group Ltd		73
	312,982	*	Santos Ltd		992
	3,264,413		Scentre Group		10,077
	7,122	e	Seek Ltd		93
	45,039		Shopping Centres Australasia Property Group		81
	47,899		Sonic Healthcare Ltd		787
	785,437		South32 Ltd		2,032
	787,473		Stockland Trust Group		2,659
	402,810		Suncorp-Metway Ltd		4,136
	104,820		Sydney Airport		585
	20,199		Tabcorp Holdings Ltd		68
	35,781		Tattersall’s Ltd		112
	1,413,719		Telstra Corp Ltd		3,873
	9,899	e	TPG Telecom Ltd		38
	260,593		Transurban Group (ASE)		2,433
	17,611		Treasury Wine Estates Ltd		189
	178,113		Vicinity Centres		372
	173,990	*	Virgin Australia Holdings Ltd		25
	233,339		Wesfarmers Ltd		7,575
	503,320		Westfield Corp		3,099
	905,232		Westpac Banking Corp		22,770
	147,036		Woodside Petroleum Ltd		3,367
	232,484		Woolworths Ltd		4,604
	14,169	*	WorleyParsons Ltd		151
			TOTAL AUSTRALIA		285,651
AUSTRIA - 0.4%
	187,300		ams AG.		13,600
	124,567		Andritz AG.		7,199
	179,406		Erste Bank der Oesterreichischen Sparkassen AG.		7,751
	9,073		OMV AG.		529
	9,036	*	Raiffeisen International Bank Holding AG.		303
	6,921		Voestalpine AG.		353
	1,658,453		Wienerberger AG.		40,540
			TOTAL AUSTRIA		70,275

181

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
BELGIUM - 0.1%
	11,460		Ageas	$	539
	103,630		Anheuser-Busch InBev S.A.		12,388
	2,500		Befimmo SCA Sicafi		158
	2,000		Cofinimmo		257
	3,348	e	Colruyt S.A.		171
	4,923		Groupe Bruxelles Lambert S.A.		518
	15,142		KBC Groep NV		1,285
	9,233		Proximus plc		318
	4,558		Solvay S.A.		681
	3,024	*	Telenet Group Holding NV		200
	7,491		UCB S.A.		534
	5,566		Umicore		461
	1,000		Warehouses De Pauw SCA		113
			TOTAL BELGIUM		17,623
BERMUDA - 0.0%
	133,709		Marvell Technology Group Ltd		2,393
	18,935		RenaissanceRe Holdings Ltd		2,559
	133,871	*	Third Point Reinsurance Ltd		2,088
	37,306		XL Group Ltd		1,472
			TOTAL BERMUDA		8,512
BRAZIL - 0.4%
	1,136,366		Banco Itau Holding Financeira S.A.		15,554
	484,600	*	Cia Brasileira de Distribuicao Grupo Pao de Acucar		11,476
	345,000		Cosan SA Industria e Comercio		3,943
	770,000		Cyrela Brazil Realty S.A.		3,355
	818,300		Localiza Rent A Car		14,911
	1,833,700	*	Petroleo Brasileiro S.A.		9,154
	3,003,595		Via Varejo S.A.		21,916
			TOTAL BRAZIL		80,309
CANADA - 3.1%
	25,395		Agnico-Eagle Mines Ltd		1,148
	47,826		Agrium, Inc		5,125
	618,726		Alimentation Couche Tard, Inc		28,215
	6,272		AltaGas Income Trust		144
	220,598		ARC Resources Ltd		3,039
	73,747		Atco Ltd		2,707
	379,304	*	Bank of Montreal		28,706
	363,918		Bank of Nova Scotia		23,391
	257,657		Barrick Gold Corp (Canada)		4,146
	5,467		BCE, Inc		256
	19,189	*	Blackberry Ltd (New)		215
	10,000		Boardwalk REIT		305
	381,554	*	Bombardier, Inc		691
	140,344		Brookfield Asset Management, Inc		5,795
	10,462		CAE, Inc		183
	15,543	e	Cameco Corp (Toronto)		150
	4,000		Canadian Apartment Properties REIT		108
	122,892		Canadian Imperial Bank of Commerce/Canada		10,752
	149,962		Canadian National Railway Co		12,425
	677,490		Canadian Natural Resources Ltd (Canada)		22,691

182

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	50,875		Canadian Pacific Railway Ltd (Toronto)	$	8,545
	2,500		Canadian Real Estate Investment Trust		92
	50,547	e	Canadian Tire Corp Ltd		6,293
	11,904		Canadian Utilities Ltd		370
	220,617		Cara Operations Ltd		4,312
	12,099		CCL Industries		585
	390,000	*	Celestica, Inc		4,826
	1,894,770		Cenovus Energy, Inc (Toronto)		18,997
	8,294	*	CGI Group, Inc		430
	21,922		CI Financial Corp		479
	8,008		Constellation Software, Inc		4,369
	20,785		Crescent Point Energy Corp		167
	200,041	*	Descartes Systems Group, Inc		5,456
	319,973		Dollarama, Inc		35,012
	15,250		Element Financial Corp		113
	1,976		Emera, Inc		75
	6,801		Empire Co Ltd		120
	376,567		Enbridge, Inc		15,730
	250,682		EnCana Corp		2,951
	9,963		Fairfax Financial Holdings Ltd		5,185
	47,402		Finning International, Inc		1,084
	9,269	e	First Capital Realty, Inc		146
	21,218		Fortis, Inc		761
	62,042		Franco-Nevada Corp		4,806
	55,199		George Weston Ltd		4,807
	98,495		Gildan Activewear, Inc		3,078
	136,791		Goldcorp, Inc		1,776
	58,057		Great-West Lifeco, Inc		1,671
	19,776		H&R Real Estate Investment Trust		341
	13,682	*	Husky Energy, Inc		171
	11,347	g	Hydro One Ltd		207
	43,698		IGM Financial, Inc		1,469
	35,119	e	Imperial Oil Ltd		1,122
	3,828		Industrial Alliance Insurance and Financial Services, Inc		173
	53,159		Intact Financial Corp		4,391
	183,285		Inter Pipeline Ltd		3,797
	2,676		Jean Coutu Group PJC, Inc		52
	106,553		Keyera Corp		3,257
	122,298	*	Kinaxis, Inc		7,224
	545,750	*	Kinross Gold Corp		2,314
	131,964		Linamar Corp		8,053
	30,335		Loblaw Cos Ltd		1,656
	111,805	*	Magna International, Inc		5,967
	1,298,461		Manulife Financial Corp		26,339
	1,974,100	*,e	MEG Energy Corp		8,686
	32,760		Methanex Corp		1,646
	349,827		Metro, Inc		12,031
	114,669		National Bank of Canada		5,519
	43,196		Onex Corp		3,333
	68,106		Open Text Corp		2,198
	39,241		Pembina Pipeline Income Fund		1,377
	52,768	e	Peyto Exploration & Development Corp		863
	96,892		Potash Corp of Saskatchewan		1,865

183

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	97,956		Power Corp Of Canada	$	2,489
	142,767		Power Financial Corp		3,960
	8,272	e	PrairieSky Royalty Ltd		212
	170,559		Restaurant Brands International, Inc		10,895
	18,792		Restaurant Brands International, Inc (Toronto)		1,201
	46,010		RioCan Real Estate Investment Trust		882
	114,441		Rogers Communications, Inc (Class B)		5,901
	446,130	*	Royal Bank of Canada		34,518
	88,859		Saputo, Inc		3,076
	188,133	*	Seven Generations Energy Ltd		2,976
	16,084		Shaw Communications, Inc (B Shares)		370
	103,063	*	Shopify, Inc		11,987
	12,670		Smart Real Estate Investment Trust		299
	6,625		SNC-Lavalin Group, Inc		299
	365,626	*,g	Spin Master Corp		14,118
	111,318		Sun Life Financial, Inc		4,433
	1,372,573		Suncor Energy, Inc		48,105
	51,940		Teck Cominco Ltd		1,094
	7,620		TELUS Corp		274
	190,000		TFI International, Inc		4,897
	27,500		Thomson Corp (Toronto)		1,262
	740,698		Toronto-Dominion Bank		41,702
	242,145	*	Tourmaline Oil Corp		4,923
	261,160	e	TransCanada Corp		12,908
	37,264	*	Turquoise Hill Resources Ltd		115
	12,118		Veresen, Inc		182
	4,111		Vermilion Energy, Inc		146
	36,265		Waste Connections, Inc		2,537
	35,831		West Fraser Timber Co Ltd		2,068
	180,000		WestJet Airlines Ltd		3,833
	202,532		Wheaton Precious Metals Corp		3,863
	42,965		Yamana Gold, Inc		114
			TOTAL CANADA		612,118
CHILE - 0.0%
	140,636		Antofagasta plc		1,791
			TOTAL CHILE		1,791
CHINA - 0.8%
	283,813	*	Alibaba Group Holding Ltd (ADR)		49,017
	36,391	*	Baidu, Inc (ADR)		9,014
	360,000	e	Byd Co Ltd		3,415
	9,579,000	*,†,e,m	China Animal Healthcare Ltd		12
	1,238,000		China Aoyuan Property Group Ltd		694
	7,346,800		China Everbright International Ltd		9,258
	1,300,255	*	China New Town Development Co Ltd		66
	1,750,545		China Overseas Land & Investment Ltd		5,712
	3,603,390		China Resources Land Ltd		11,079
	203,000		CNOOC Ltd		263
	58,623	*	Ctrip.com International Ltd (ADR)		3,092
	4,000,000	e	Great Wall Motor Co Ltd		4,951
	84,259	*	JD.com, Inc (ADR)		3,219
	2,510,600	*,e,g	Meitu, Inc		3,593

184

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	8,000,000		Sinopec Shanghai Petrochemical Co Ltd	$	4,780
	913,500		Sunny Optical Technology Group Co Ltd		14,665
	926,300		Tencent Holdings Ltd		40,498
	51,449		Yangzijiang Shipbuilding		54
			TOTAL CHINA		163,382
CZECH REPUBLIC - 0.0%
	1,134,176	g	Moneta Money Bank AS.		3,993
			TOTAL CZECH REPUBLIC		3,993
DENMARK - 0.7%
	228		AP Moller - Maersk AS (Class A)		420
	388		AP Moller - Maersk AS (Class B)		739
	6,362		Carlsberg AS (Class B)		698
	5,751		Christian Hansen Holding		494
	7,264		Coloplast AS		591
	840,619		Danske Bank AS		33,686
	85,000		Dfds A.S.		4,861
	281,794	g	DONG Energy A.S.		16,153
	261,255		DSV AS		19,792
	5,507	*	Genmab AS		1,218
	82,850		GN Store Nord		2,844
	4,235		H Lundbeck AS		245
	10,088		ISS A.S.		407
	926,029		Novo Nordisk AS		44,522
	13,520		Novozymes AS		694
	6,421		Pandora AS		635
	180,000		Sydbank AS		7,486
	50,266		TDC AS		295
	6,466		Tryg A.S.		149
	12,912		Vestas Wind Systems AS		1,161
	5,949	*	William Demant Holding A.S.		157
			TOTAL DENMARK		137,247
FINLAND - 0.5%
	178,007		Amer Sports Oyj (A Shares)		4,726
	40,000		Citycon Oyj		105
	8,480		Elisa Oyj (Series A)		365
	27,088		Fortum Oyj		541
	352,600		Huhtamaki Oyj		14,241
	20,418		Kone Oyj (Class B)		1,082
	6,994		Metso Oyj		257
	7,970		Neste Oil Oyj		348
	3,622,264		Nokia Oyj (Turquoise)		21,765
	7,027		Nokian Renkaat Oyj		313
	116,026		Orion Oyj (Class B)		5,387
	1,053,400		Outokumpu Oyj		10,959
	676,375		Sampo Oyj (A Shares)		35,797
	68,307		Stora Enso Oyj (R Shares)		966
	15,000		Technopolis plc		70
	121,850		UPM-Kymmene Oyj		3,306
	300,000		Valmet Corp		5,898
	8,823		Wartsila Oyj (B Shares)		625
			TOTAL FINLAND		106,751

185

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
FRANCE - 4.0%
	481,600		Accor S.A.	$	23,952
	1,776		Aeroports de Paris		287
	23,365		Air Liquide		3,116
	9,441		Alstom RGPT		401
	95,999	g	Amundi S.A.		7,982
	341,084		Arkema		41,852
	5,690		Atos Origin S.A.		883
	346,757		AXA S.A.		10,483
	484,846		BNP Paribas		39,115
	53,227		Bollore		266
	12,925		Bouygues S.A.		614
	16,164		Bureau Veritas S.A.		417
	96,234		Cap Gemini S.A.		11,281
	34,680		Carrefour S.A.		700
	3,326		Casino Guichard Perrachon S.A.		197
	10,112		CNP Assurances		237
	720,012		Compagnie de Saint-Gobain		42,898
	1,587,548		Credit Agricole S.A.		28,900
	145		Dassault Aviation S.A.		235
	199,823		Dassault Systemes S.A.		20,217
	12,551		Edenred		341
	4,335		Eiffage S.A.		449
	33,130	e	Electricite de France		402
	12,456		Essilor International S.A.		1,544
	2,681		Eurazeo		240
	131,553		European Aeronautic Defence and Space Co		12,523
	10,242		Eutelsat Communications		303
	114,828		Faurecia		7,969
	4,128		Fonciere Des Regions		429
	965,650		France Telecom S.A.		15,811
	533,671		Gaz de France		9,062
	5,361		Gecina S.A.		870
	530,720		Groupe Danone		41,685
	28,662		Groupe Eurotunnel S.A.		345
	1,897		Hermes International		957
	6,184		Icade		552
	1,546		Iliad S.A.		411
	2,332		Imerys S.A.		211
	3,447		Ingenico		327
	12,234		Ipsen		1,628
	189,301		JC Decaux S.A.		7,097
	40,940		Kering		16,309
	33,077		Klepierre		1,299
	7,096		Lagardere S.C.A.		238
	16,252		Legrand S.A.		1,173
	201,057		L’Oreal S.A.		42,633
	193,173		LVMH Moet Hennessy Louis Vuitton S.A.		53,400
	96,986		Michelin (C.G.D.E.) (Class B)		14,150
	54,017		Natixis		432
	12,878		Pernod-Ricard S.A.		1,781

186

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,003,128		Peugeot S.A.	$	23,880
	12,160		Publicis Groupe S.A.		851
	31,412		Remy Cointreau S.A.		3,721
	232,232		Renault S.A.		22,818
	369,216		Rexel S.A.		6,387
	18,742		Safran S.A.		1,915
	274,503		Sanofi-Aventis		27,326
	649,200		Schneider Electric S.A.		56,533
	140,423		SCOR SE		5,889
	1,347		SEB S.A.		247
	1,783		Societe BIC S.A.		214
	391,178		Societe Generale		22,924
	5,546		Sodexho Alliance S.A.		691
	319,033		Suez Environnement S.A.		5,825
	274,952		Teleperformance		41,020
	6,333		Thales S.A.		717
	938,071		Total S.A.		50,369
	16,062		Unibail-Rodamco		3,909
	386,841		Valeo S.A.		28,704
	190,490		Veolia Environnement		4,402
	100,299		Vinci S.A.		9,530
	61,902		Vivendi Universal S.A.		1,568
	1,729		Wendel		280
	11,615		Zodiac S.A.		336
			TOTAL FRANCE		788,660
GERMANY - 2.8%
	65,653		Adidas-Salomon AG.		14,868
	2,000	g	ADO Properties S.A.		99
	1,114,407	*	Aixtron AG.		15,035
	107,532		Allianz AG.		24,150
	290,710		Alstria Office REIT-AG.		4,156
	2,969		Axel Springer AG.		191
	293,711		BASF SE		31,291
	447,205		Bayer AG.		61,090
	20,410		Bayerische Motoren Werke AG.		2,071
	2,738		Bayerische Motoren Werke AG. (Preference)		244
	224,835		Beiersdorf AG.		24,207
	775,000		Borussia Dortmund GmbH & Co KGaA		7,522
	9,413		Brenntag AG.		525
	2,712,147	*	Commerzbank AG.		36,987
	6,670		Continental AG.		1,694
	86,504	g	Covestro AG.		7,444
	57,915		Daimler AG. (Registered)		4,623
	63,709		Deutsche Annington Immobilien SE		2,713
	123,854		Deutsche Bank AG. (Registered)		2,144
	11,549		Deutsche Boerse AG.		1,254
	3,500		Deutsche Euroshop AG.		131
	13,288		Deutsche Lufthansa AG.		370
	58,433		Deutsche Post AG.		2,605
	1,469,586		Deutsche Telekom AG.		27,443
	48,047		Deutsche Wohnen AG.		2,042
	65,000		Duerr AG.		8,704

187

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	132,265		E.ON AG.	$	1,499
	9,959		Evonik Industries AG.		356
	2,459		Fraport AG. Frankfurt Airport Services Worldwide		234
	112,656		Fresenius Medical Care AG.		11,014
	52,046		Fresenius SE		4,209
	4,073		Fuchs Petrolub AG. (Preference)		241
	11,004		GEA Group AG.		501
	8,000		Grand City Properties S.A.		169
	73,699		Hannover Rueckversicherung AG.		8,889
	8,843		HeidelbergCement AG.		910
	6,220		Henkel KGaA		757
	10,714		Henkel KGaA (Preference)		1,460
	36,275		Hochtief AG.		6,127
	3,836		Hugo Boss AG.		338
	68,050		Infineon Technologies AG.		1,716
	8,131	g	Innogy SE		362
	10,785	e	K&S AG.		294
	4,276		KION Group AG.		410
	5,485		Lanxess AG.		433
	5,000		LEG Immobilien AG.		506
	128,423		Linde AG.		26,705
	342,400	*	Linde AG.		71,406
	1,875		MAN AG.		212
	27,754		Merck KGaA		3,091
	11,200	*	Metro Wholesale & Food Specialist AG.		237
	9,390		Muenchener Rueckver AG.		2,010
	5,511		Osram Licht AG.		440
	400,546	*	Paion AG.		1,303
	8,977		Porsche AG.		574
	14,005		ProSiebenSat. Media AG.		478
	31,242	*	RWE AG.		711
	59,114		SAP AG.		6,482
	10,472		Schaeffler AG.		169
	344,824	g	Scout24 AG.		14,109
	378,630		Siemens AG.		53,428
	65,000	*,e	SLM Solutions Group AG.		2,738
	7,523		Symrise AG.		572
	10,000		TAG Tegernsee Immobilien und Beteiligungs AG.		168
	42,212		Telefonica Deutschland Holding AG.		237
	1,003,699		ThyssenKrupp AG.		29,810
	5,000		TLG Immobilien AG.		115
	26,314		TUI AG. (DI)		447
	7,540		United Internet AG.		470
	4,701		Volkswagen AG.		795
	8,348		Volkswagen AG. (Preference)		1,363
	123,700	e	Wirecard AG.		11,332
	6,660	*,g	Zalando SE		334
			TOTAL GERMANY		553,764
HONG KONG - 0.8%
	5,965,258		AIA Group Ltd		44,163
	5,918		ASM Pacific Technology		85
	129,471		Bank of East Asia Ltd		561

188

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	669,853		BOC Hong Kong Holdings Ltd	$	3,263
	85,000	e	Cathay Pacific Airways Ltd		129
	625,000		Chow Sang Sang Holding		1,430
	497,625		CK Asset Holdings Ltd		4,137
	613,043		CK Hutchison Holdings Ltd		7,852
	44,453		CK Infrastructure Holdings Ltd		383
	501,954		CLP Holdings Ltd		5,153
	55,463		First Pacific Co		44
	61,803		Galaxy Entertainment Group Ltd		437
	1,063,434	*	Global Brands Group Holding Ltd		103
	553,000	*	Glorious Property Holdings Ltd		62
	23,000		Hang Lung Group Ltd		83
	819,576		Hang Lung Properties Ltd		1,951
	366,272		Hang Seng Bank Ltd		8,954
	139,052		Henderson Land Development Co Ltd		925
	74,500	e,g	HK Electric Investments & HK Electric Investments Ltd		68
	86,660		HKT Trust and HKT Ltd		105
	2,752,299		Hong Kong & China Gas Ltd		5,186
	298,988		Hong Kong Electric Holdings Ltd		2,595
	132,225		Hong Kong Exchanges and Clearing Ltd		3,571
	201,500		Hongkong Land Holdings Ltd		1,453
	7,000		Hopewell Highway Infrastructure Ltd		4
	151,947		Hutchison Port Holdings Trust		66
	929,760		Hysan Development Co Ltd		4,387
	226,523	*	I-Cable Communications Ltd		7
	5,500		Jardine Matheson Holdings Ltd		349
	5,600		Jardine Strategic Holdings Ltd		242
	48,000		Kerry Logistics Network Ltd		67
	81,526		Kerry Properties Ltd		339
	1,221,027		Li & Fung Ltd		614
	133,026		Link REIT		1,082
	1,436,008		Melco Crown Entertainment Ltd (ADR)		34,637
	366,112		MTR Corp		2,144
	1,747,376		New World Development Co Ltd		2,521
	3	*,e	Noble Group Ltd		0	^
	29,638		NWS Holdings Ltd		58
	111,262		PCCW Ltd		60
	718,733		Sands China Ltd		3,759
	25,992		Shangri-La Asia Ltd		48
	158,000		Shun TAK Holdings Ltd		71
	83,882		Sino Land Co		148
	52,611		SJM Holdings Ltd		48
	253,468		Sun Hung Kai Properties Ltd		4,129
	109,628		Swire Pacific Ltd (Class A)		1,067
	2,040,000		Swire Properties Ltd		6,928
	33,402		Techtronic Industries Co		179
	191,500	g	WH Group Ltd		204
	427,053		Wharf Holdings Ltd		3,820
	20,334		Wheelock & Co Ltd		144
	4,000,000		Xinyi Glass Holdings Co Ltd		3,965
	18,412		Yue Yuen Industrial Holdings		70
			TOTAL HONG KONG		163,850

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
HUNGARY - 0.1%
	560,000		MOL Hungarian Oil & Gas plc	$	6,369
	213,000		Richter Gedeon Rt		5,293
			TOTAL HUNGARY		11,662
INDIA - 0.4%
	387,000		Asian Paints Ltd		6,716
	160,000		Axis Bank Ltd		1,249
	804,300		Bharat Petroleum Corp Ltd		5,808
	487,996		Capital First Ltd		5,492
	167,000		Container Corp Of India Ltd		3,446
	322,531	*	DEN Networks Ltd		444
	415,000		HDFC Bank Ltd		11,488
	1,575,000		Hindustan Petroleum Corp Ltd		10,299
	324,292		ICICI Bank Ltd (ADR)		2,776
	683,737		Indiabulls Housing Finance Ltd		12,658
	1,325,000	*	Jain Irrigation Systems Ltd		1,923
	181,381	*	Multi Commodity Exchange of India Ltd		2,888
	90,834	*	Prestige Estates Projects Ltd		381
	1,247,527	*	Puravankara Projects Ltd		1,390
	222,138		Reliance Industries Ltd		2,659
	130,351		Shriram Transport Finance Co Ltd		2,108
	9,193,910	*	Unitech Ltd		974
	200,000		Yes Bank Ltd		1,074
			TOTAL INDIA		73,773
INDONESIA - 0.0%
	1,325,600		PT Matahari Department Store Tbk		913
			TOTAL INDONESIA		913
IRELAND - 0.8%
	225,022	*	AerCap Holdings NV		11,501
	4,578,060		Allied Irish Banks plc		27,514
	374,847	*	Bank of Ireland Group plc		3,070
	771,641		CRH plc		29,356
	2,902,262		Green REIT plc		5,169
	8,074,391		Hibernia REIT plc		14,553
	147,992	*,†,m	Irish Bank Resolution Corp Ltd		0
	11,806		James Hardie Industries NV		165
	244,772		Kerry Group plc (Class A)		23,489
	526,576		Keywords Studios plc		9,773
	4,605		Paddy Power plc		460
	4,593	*	Ryanair Holdings plc		88
	219,926	*	Ryanair Holdings plc (ADR)		23,185
	577,088		Smurfit Kappa Group plc		18,075
			TOTAL IRELAND		166,398
ISRAEL - 0.0%
	2,481		Azrieli Group		138
	147,541		Bank Hapoalim Ltd		1,033
	191,268		Bank Leumi Le-Israel		1,017
	122,631		Bezeq Israeli Telecommunication Corp Ltd		175
	7,770	*	Check Point Software Technologies		886

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,431		Elbit Systems Ltd	$	210
	2,278		Frutarom Industries Ltd		175
	30,628		Israel Chemicals Ltd		136
	22,279		Mizrahi Tefahot Bank Ltd		400
	3,613		Nice Systems Ltd		293
	54,955		Teva Pharmaceutical Industries Ltd (ADR)		967
			TOTAL ISRAEL		5,430
ITALY - 1.0%
	4,000,000		A2A S.p.A.		6,882
	74,441		Assicurazioni Generali S.p.A.		1,388
	26,928		Autostrade S.p.A.		851
	12,617,862		Banca Intesa S.p.A.		44,671
	57,749		Banca Intesa S.p.A. RSP		191
	200,000		Beni Stabili S.p.A.		174
	144,000	e	Brunello Cucinelli S.p.A		4,465
	719,175		Davide Campari-Milano S.p.A		5,224
	965,158		Enel S.p.A.		5,814
	410,569		ENI S.p.A.		6,800
	7,387		Ferrari NV		817
	24,350		Finmeccanica S.p.A.		457
	61,822		Fondiaria-Sai S.p.A		145
	10,230		Luxottica Group S.p.A.		572
	2,061,878		Mediobanca S.p.A.		22,158
	610,819		Moncler S.p.A		17,649
	1,224,644	g	OVS S.p.A		9,355
	30,686	g	Poste Italiane S.p.A		226
	6,547,533		Prada S.p.A		22,932
	12,141		Prysmian S.p.A.		410
	6,039		Recordati S.p.A.		279
	37,456	*	Saipem S.p.A		162
	136,790		Snam Rete Gas S.p.A.		659
	383,745		Telecom Italia RSP		289
	671,694	*	Telecom Italia S.p.A.		630
	84,442		Terna Rete Elettrica Nazionale S.p.A.		493
	1,217,939	*	UniCredit S.p.A		25,990
	304,209	*,e	Yoox S.p.A		11,940
			TOTAL ITALY		191,623
JAPAN - 7.5%
	900		ABC-Mart, Inc		48
	1,000,000	*,e	Acom Co Ltd		3,880
	370		Activia Properties Inc		1,536
	8		Advance Residence Investment Corp		20
	21,146		Aeon Co Ltd		313
	21,952	e	AEON Financial Service Co Ltd		459
	11,797		Aeon Mall Co Ltd		210
	867		AEON REIT Investment Corp		878
	5,400		Air Water, Inc		100
	331,290		Aisin Seiki Co Ltd		17,466
	98,975		Ajinomoto Co, Inc		1,931
	24,405		Alfresa Holdings Corp		447
	27,452		All Nippon Airways Co Ltd		1,040

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	490,229		Alps Electric Co Ltd	$	12,956
	11,744		Amada Co Ltd		129
	4,085		Aozora Bank Ltd		156
	80,331		Asahi Breweries Ltd		3,248
	41,801		Asahi Glass Co Ltd		1,553
	302,134		Asahi Kasei Corp		3,723
	160,500		Ashikaga Holdings Co Ltd		621
	5,500		Asics Corp		82
	69,905		Astellas Pharma, Inc		890
	38,021	e	Bank of Kyoto Ltd		1,935
	2,453		Benesse Holdings Inc		88
	164		BLife Investment Corp		393
	133,504		Bridgestone Corp		6,062
	8,285		Brother Industries Ltd		193
	15,600	e	Calbee, Inc		548
	205,797		Canon, Inc		7,043
	5,733	e	Casio Computer Co Ltd		81
	33,044		Central Japan Railway Co		5,799
	574,562		Chiba Bank Ltd		4,115
	193,466		Chubu Electric Power Co, Inc		2,404
	78,858		Chugai Pharmaceutical Co Ltd		3,277
	35,200		Chugoku Bank Ltd		483
	59,966	e	Chugoku Electric Power Co, Inc		637
	4,100		Coca-Cola West Japan Co Ltd		133
	242,200		Concordia Financial Group Ltd		1,198
	300,000		Cosmo Energy Holdings Co Ltd		6,882
	4,368		Credit Saison Co Ltd		91
	10,000	e	CyberAgent, Inc		292
	139,600	*,e	CYBERDYNE, Inc		1,862
	8,538		Dai Nippon Printing Co Ltd		205
	10,046		Daicel Chemical Industries Ltd		121
	648,839		Dai-ichi Mutual Life Insurance Co		11,639
	42,194		Daiichi Sankyo Co Ltd		952
	124,955		Daikin Industries Ltd		12,654
	14,417		Daito Trust Construction Co Ltd		2,627
	19,056		Daiwa House Industry Co Ltd		658
	667,480		Daiwa Securities Group, Inc		3,784
	21,600		Dena Co Ltd		484
	93,287		Denso Corp		4,721
	42,455		Dentsu, Inc		1,865
	900		Disco Corp		183
	4,033		Don Quijote Co Ltd		151
	162,368		East Japan Railway Co		14,988
	8,728		Eisai Co Ltd		448
	26,993		Electric Power Development Co		678
	2,844		FamilyMart Co Ltd		150
	40,543		Fanuc Ltd		8,220
	10,919		Fast Retailing Co Ltd		3,221
	1,168,822		Fuji Electric Holdings Co Ltd		6,485
	112,680		Fuji Heavy Industries Ltd		4,064
	345,693		Fujifilm Holdings Corp		13,431
	1,389,991		Fujitsu Ltd		10,345
	159,733		Fukuoka Financial Group, Inc		739

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,018		GLP J-Reit	$	1,062
	132,600	e	GMO Payment Gateway, Inc		8,307
	85,073		Hachijuni Bank Ltd		532
	7,300		Hakuhodo DY Holdings, Inc		96
	4,800		Hamamatsu Photonics KK		145
	68,300		Hankyu Hanshin Holdings, Inc		2,593
	732		Hikari Tsushin, Inc		92
	68,382		Hino Motors Ltd		837
	1,132		Hirose Electric Co Ltd		159
	53,500		Hiroshima Bank Ltd		434
	7,575		Hisamitsu Pharmaceutical Co, Inc		364
	685,950		Hitachi Capital Corp		16,325
	20,570		Hitachi Chemical Co Ltd		564
	3,733		Hitachi Construction Machinery Co Ltd		111
	124,600		Hitachi High-Technologies Corp		4,525
	6,616,793		Hitachi Ltd		46,654
	6,300		Hitachi Metals Ltd		88
	30,000	e	Hokuriku Electric Power Co		252
	320,796		Honda Motor Co Ltd		9,476
	10,812		Hoshizaki Electric Co Ltd		950
	81,153		Hoya Corp		4,389
	65		Hulic Reit, Inc		96
	4,200		Idemitsu Kosan Co Ltd		119
	4,929		Iida Group Holdings Co Ltd		88
	574,800		Infomart Corp		4,132
	31,010		Inpex Holdings, Inc		330
	300		Invesco Office J-Reit, Inc		286
	67,881	e	Isetan Mitsukoshi Holdings Ltd		709
	676,494		Ishikawajima-Harima Heavy Industries Co Ltd		23,582
	18,500		Isuzu Motors Ltd		245
	269,570		Itochu Corp		4,417
	16,800		Itochu Techno-Science Corp		628
	103,000		Itoham Yonekyu Holdings, Inc		928
	262,900		J Front Retailing Co Ltd		3,635
	117,915		Japan Airlines Co Ltd		3,992
	1,603	e	Japan Airport Terminal Co Ltd		57
	13,046	e	Japan Post Bank Co Ltd		161
	53,340	e	Japan Post Holdings Co Ltd		630
	82		Japan Prime Realty Investment Corp		274
	78		Japan Real Estate Investment Corp		375
	1,793		Japan Rental Housing Investments, Inc		1,265
	657		Japan Retail Fund Investment Corp		1,179
	292,740		Japan Tobacco, Inc		9,593
	36,604		JFE Holdings, Inc		716
	38,178		JGC Corp		618
	6,586		JSR Corp		125
	347,303		JTEKT Corp		4,808
	2,773,488		JX Holdings, Inc		14,301
	370,000	e	kabu.com Securities Co Ltd		1,126
	200,372		Kajima Corp		1,992
	4,934	e	Kakaku.com, Inc		63
	25,686		Kamigumi Co Ltd		595
	9,129		Kaneka Corp		71

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	286,374		Kansai Electric Power Co, Inc	$	3,665
	6,614		Kansai Paint Co Ltd		167
	290,285		Kao Corp		17,090
	45,051		Kawasaki Heavy Industries Ltd		1,494
	360,500		KDDI Corp		9,503
	3,400		Keihan Electric Railway Co Ltd		100
	46,811		Keihin Electric Express Railway Co Ltd		949
	31,825		Keio Corp		1,312
	4,713		Keisei Electric Railway Co Ltd		130
	1,488		Kenedix Realty Investment Corp		8,193
	281		Kenedix Retail REIT Corp		584
	246,000		Kenedix, Inc		1,369
	18,700		Keyence Corp		9,946
	5,095	e	Kikkoman Corp		157
	14,791		Kintetsu Corp		550
	310,349		Kirin Brewery Co Ltd		7,291
	60,408		Kobe Steel Ltd		692
	3,800		Koito Manufacturing Co Ltd		239
	130,936		Komatsu Ltd		3,708
	2,886		Konami Corp		139
	516,520		Konica Minolta Holdings, Inc		4,244
	1,128		Kose Corp		129
	1,133,507		Kubota Corp		20,619
	11,974		Kuraray Co Ltd		224
	3,377		Kurita Water Industries Ltd		98
	11,000		Kyocera Corp		683
	228,789		Kyowa Hakko Kogyo Co Ltd		3,898
	106,335		Kyushu Electric Power Co, Inc		1,130
	71,900		Kyushu Financial Group, Inc		443
	5,400		Kyushu Railway Co		161
	1,680	e	Lawson, Inc		111
	1,600	*,e	LINE Corp		58
	7,600		Lion Corp		139
	8,764		LIXIL Group Corp		233
	40,013		M3, Inc		1,141
	13,605		Mabuchi Motor Co Ltd		682
	290,000		Maeda Corp		3,547
	52,372		Makita Corp		2,114
	788,472		Marubeni Corp		5,390
	7,009	e	Marui Co Ltd		100
	11,996		Maruichi Steel Tube Ltd		349
	1,222,100	e	Matsui Securities Co Ltd		9,215
	243,155		Matsushita Electric Industrial Co Ltd		3,529
	204,415		Mazda Motor Corp		3,132
	2,200		McDonald’s Holdings Co Japan Ltd		97
	5,559		Mediceo Paltac Holdings Co Ltd		97
	367,400		Megachips Corp		12,073
	28,500		MEIJI Holdings Co Ltd		2,257
	130		MID Reit, Inc		396
	67,900		Minebea Co Ltd		1,063
	19,541		Miraca Holdings, Inc		910
	139,200		MISUMI Group, Inc		3,669
	289,119		Mitsubishi Chemical Holdings Corp		2,756

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	310,211		Mitsubishi Corp	$	7,217
	414,314		Mitsubishi Electric Corp		6,481
	245,158		Mitsubishi Estate Co Ltd		4,261
	44,680		Mitsubishi Gas Chemical Co, Inc		1,048
	196,415		Mitsubishi Heavy Industries Ltd		7,766
	163,753		Mitsubishi Materials Corp		5,672
	132,800		Mitsubishi Motors Corp		1,051
	4,189,796		Mitsubishi UFJ Financial Group, Inc		27,241
	16,100		Mitsubishi UFJ Lease & Finance Co Ltd		85
	392,720		Mitsui & Co Ltd		5,809
	38,228		Mitsui Chemicals, Inc		1,163
	295,329		Mitsui Fudosan Co Ltd		6,404
	3,950		Mitsui OSK Lines Ltd		120
	101,109		Mitsui Sumitomo Insurance Group Holdings, Inc		3,258
	69,075		Mitsui Trust Holdings, Inc		2,495
	1,200		Mixi Inc		58
	4,712,856		Mizuho Financial Group, Inc		8,262
	516,800	e	MonotaRO Co Ltd		13,823
	101		Mori Hills REIT Investment Corp		121
	72		Mori Trust Sogo Reit, Inc		108
	139,135		Murata Manufacturing Co Ltd		20,483
	3,839		Nabtesco Corp		143
	36,200		Nagoya Railroad Co Ltd		779
	6,506		Namco Bandai Holdings, Inc		223
	60,862		NEC Corp		1,651
	16,800	*	NEC Electronics Corp		183
	6,400	*	Nexon Co Ltd		167
	95,131		NGK Insulators Ltd		1,782
	91,793	e	NGK Spark Plug Co Ltd		1,955
	46,117		Nidec Corp		5,669
	11,981		Nikon Corp		208
	136,097		Nintendo Co Ltd		50,183
	171		Nippon Building Fund, Inc		853
	2,862		Nippon Electric Glass Co Ltd		111
	2,844		Nippon Express Co Ltd		185
	5,944		Nippon Meat Packers, Inc		163
	5,726		Nippon Paint Co Ltd		195
	871		Nippon ProLogis REIT, Inc		1,836
	55,601		Nippon Steel Corp		1,278
	681,500		Nippon Telegraph & Telephone Corp		31,227
	242,767		Nippon Yusen Kabushiki Kaisha		5,052
	4,200		Nissan Chemical Industries Ltd		148
	1,171,162	e	Nissan Motor Co Ltd		11,602
	7,031		Nisshin Seifun Group, Inc		118
	2,045		Nissin Food Products Co Ltd		124
	2,700		Nitori Co Ltd		386
	240,437		Nitto Denko Corp		20,055
	195,453		NKSJ Holdings, Inc		7,617
	203,455		NOK Corp		4,551
	3,489,280		Nomura Holdings, Inc		19,578
	4,174		Nomura Real Estate Holdings, Inc		89
	393		Nomura Real Estate Master Fund, Inc		511
	27,900		Nomura Research Institute Ltd		1,090

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	84,535		NSK Ltd	$	1,141
	240,000		NTN Corp		1,017
	272,800		NTT Data Corp		2,919
	1,092,048		NTT DoCoMo, Inc		24,961
	131,796		Obayashi Corp		1,581
	2,300		Obic Co Ltd		145
	57,849		Odakyu Electric Railway Co Ltd		1,098
	242,994		OJI Paper Co Ltd		1,312
	172,042		Olympus Corp		5,830
	158,613		Omron Corp		8,088
	13,968		Ono Pharmaceutical Co Ltd		317
	1,203		Oracle Corp Japan		95
	62,900		Oriental Land Co Ltd		4,795
	2,204,325		ORIX Corp		35,587
	187		Orix JREIT, Inc		269
	253,021		Osaka Gas Co Ltd		4,703
	107,100		Osaka Securities Exchange Co Ltd		1,897
	5,200		Otsuka Corp		333
	81,100		Otsuka Holdings KK		3,225
	260,300		Paltac Corp		10,159
	9,100	e	Park24 Co Ltd		222
	51,300		Pola Orbis Holdings, Inc		1,551
	35		Premier Investment Co		33
	276,300		Rakuten, Inc		3,017
	111,639		Recruit Holdings Co Ltd		2,417
	666,272		Resona Holdings, Inc		3,426
	23,282	e	Ricoh Co Ltd		226
	1,212		Rinnai Corp		104
	116,824		Rohm Co Ltd		10,024
	844		Ryohin Keikaku Co Ltd		249
	1,680		Sankyo Co Ltd		54
	108,900		Santen Pharmaceutical Co Ltd		1,718
	5,691		SBI Holdings, Inc		86
	45,234		Secom Co Ltd		3,294
	4,952		Sega Sammy Holdings, Inc		69
	6,400		Seibu Holdings, Inc		109
	9,800	e	Seiko Epson Corp		237
	400,000		Seino Holdings Corp		5,621
	97,051		Sekisui Chemical Co Ltd		1,912
	1,255,120		Sekisui House Ltd		21,156
	151,800		Seria Co Ltd		8,440
	147,612		Seven & I Holdings Co Ltd		5,703
	18,500	e	Seven Bank Ltd		67
	4,800	*,e	Sharp Corp		145
	8,647		Shimadzu Corp		171
	5,327		Shimamura Co Ltd		639
	2,492		Shimano, Inc		332
	1,606,062		Shimizu Corp		17,810
	174,300		Shin-Etsu Chemical Co Ltd		15,600
	234,678		Shinsei Bank Ltd		3,761
	82,337		Shionogi & Co Ltd		4,501
	12,293		Shiseido Co Ltd		492
	117,301	e	Shizuoka Bank Ltd		1,056

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	83,528		Shoei Co Ltd	$	819
	6,522		Showa Shell Sekiyu KK		75
	11,991		SMC Corp		4,237
	262,500		SMS Co Ltd		8,366
	300,966		Softbank Corp		24,407
	2,400	e	Sohgo Security Services Co Ltd		110
	2,400,000		Sojitz Holdings Corp		6,641
	2,544,965		Sony Corp		94,949
	998,028		Sony Financial Holdings, Inc		16,377
	214,815		Stanley Electric Co Ltd		7,368
	1,030		Star Asia Investment Corp		935
	6,500		Start Today Co Ltd		206
	1,075,000		Sumco Corp		16,961
	313,883		Sumitomo Chemical Co Ltd		1,964
	182,263		Sumitomo Corp		2,624
	5,363	e	Sumitomo Dainippon Pharma Co Ltd		70
	157,124		Sumitomo Electric Industries Ltd		2,569
	329,325		Sumitomo Heavy Industries Ltd		13,219
	7,816		Sumitomo Metal Mining Co Ltd		252
	890,290		Sumitomo Mitsui Financial Group, Inc		34,222
	112,421		Sumitomo Realty & Development Co Ltd		3,401
	6,063		Sumitomo Rubber Industries, Inc		111
	2,100		Sundrug Co Ltd		87
	4,700		Suntory Beverage & Food Ltd		209
	35,676		Suruga Bank Ltd		770
	2,607		Suzuken Co Ltd		93
	41,534		Suzuki Motor Corp		2,180
	214,622		Sysmex Corp		13,712
	148,131		T&D Holdings, Inc		2,149
	23,900		Taiheiyo Cement Corp		923
	42,674		Taisei Corp		2,238
	4,256		Taisho Pharmaceutical Holdings Co Ltd		323
	107,885		Taiyo Nippon Sanso Corp		1,279
	10,117		Takashimaya Co Ltd		95
	446,248		Takeda Pharmaceutical Co Ltd		24,676
	45,381		Tanabe Seiyaku Co Ltd		1,042
	4,156		TDK Corp		282
	76,522		Teijin Ltd		1,510
	10,846		Terumo Corp		427
	50,494		THK Co Ltd		1,722
	47,376		Tobu Railway Co Ltd		1,302
	3,875		Toho Co Ltd		135
	2,200		Toho Gas Co Ltd		64
	95,815		Tohoku Electric Power Co, Inc		1,219
	264,064		Tokio Marine Holdings, Inc		10,335
	205,600	*	Tokyo Base Co Ltd		9,913
	414,068	*	Tokyo Electric Power Co, Inc		1,673
	5,216		Tokyo Electron Ltd		803
	189,785		Tokyo Gas Co Ltd		4,648
	38,100		Tokyo Tatemono Co Ltd		487
	186,476		Tokyu Corp		2,641
	14,100		Tokyu Fudosan Holdings Corp		85
	77		Tokyu REIT, Inc		94

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	76,000		Topcon Corp	$	1,341
	17,734		Toppan Printing Co Ltd		176
	304,364		Toray Industries, Inc		2,953
	132,554	*	Toshiba Corp		372
	459,500		Tosoh Corp		10,372
	5,042		Toto Ltd		212
	5,439		Toyo Seikan Kaisha Ltd		91
	3,099		Toyo Suisan Kaisha Ltd		114
	2,497		Toyoda Gosei Co Ltd		59
	105,493		Toyota Industries Corp		6,067
	1,371,057		Toyota Motor Corp		81,754
	7,494		Toyota Tsusho Corp		246
	3,928		Trend Micro, Inc		193
	200,000		TS Tech Co Ltd		6,724
	1,100		Tsuruha Holdings, Inc		132
	28,212		Uni-Charm Corp		646
	262		United Urban Investment Corp		384
	7,430		USS Co Ltd		150
	106,343	e	Wash House Co Ltd		2,856
	25,107		West Japan Railway Co		1,745
	294,338		Yahoo! Japan Corp		1,399
	3,004		Yakult Honsha Co Ltd		216
	20,531		Yamada Denki Co Ltd		112
	41,406		Yamaguchi Financial Group, Inc		485
	5,708		Yamaha Corp		211
	9,491		Yamaha Motor Co Ltd		284
	11,455	e	Yamato Transport Co Ltd		231
	4,553		Yamazaki Baking Co Ltd		82
	8,324		Yaskawa Electric Corp		264
	7,610		Yokogawa Electric Corp		130
	3,700		Yokohama Rubber Co Ltd		76
			TOTAL JAPAN		1,492,499
JERSEY, C.I. - 0.0%
	12,331		Randgold Resources Ltd		1,205
			TOTAL JERSEY, C.I.		1,205
JORDAN - 0.0%
	8,914		Hikma Pharmaceuticals plc		145
			TOTAL JORDAN		145
KOREA, REPUBLIC OF - 0.2%
	183,300		Hynix Semiconductor, Inc		13,368
	69,153	g	ING Life Insurance Korea Ltd		2,872
	86,045	*	Osstem Implant Co Ltd		5,255
	10,472		Samsung Electronics Co Ltd		23,564
	20,000		Samsung Fire & Marine Insurance Co Ltd		4,901
			TOTAL KOREA, REPUBLIC OF		49,960
LUXEMBOURG - 0.3%
	90,000		APERAM		4,716
	875,581	*	ArcelorMittal		22,587
	355,078	*,e	ArcelorMittal (ADR)		9,147

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,436,775		B&M European Value Retail S.A.	$	12,659
	661		Eurofins Scientific		418
	4,093		Millicom International Cellular S.A.		270
	2,529		RTL Group		191
	21,679		SES Global S.A.		475
	29,039	e	Tenaris S.A.		412
			TOTAL LUXEMBOURG		50,875
MACAU - 0.0%
	19,392	e	MGM China Holdings Ltd		46
	39,783		Wynn Macau Ltd		108
			TOTAL MACAU		154
MALAYSIA - 0.0%
	8,333,325		Karex BHD		2,980
	1,266,980		Public Bank BHD		6,136
	45,306	*	YNH Property BHD		15
			TOTAL MALAYSIA		9,131
MEXICO - 0.0%
	12,876		Fresnillo plc		243
	227,257		Infraestructura Energetica ,NV SAB de C.V.		1,272
			TOTAL MEXICO		1,515
NETHERLANDS - 2.7%
	1,777,205	g	ABN AMRO Group NV (ADR)		53,217
	106,337		Aegon NV		620
	15,301		Akzo Nobel NV		1,411
	28,749	*	Altice NV (Class A)		576
	4,870	*	Altice NV (Class B)		97
	597,927		ASML Holding NV		102,172
	5,481		Boskalis Westminster		192
	10,812		DSM NV		885
	3,500		Eurocommercial Properties NV		150
	829,285	g	Euronext NV		50,486
	116,392		EXOR NV		7,387
	4,903		Gemalto NV		219
	6,905		Heineken Holding NV		649
	79,366		Heineken NV		7,853
	9,854,080		ING Groep NV		181,634
	808,080		Koninklijke Ahold Delhaize NV		15,099
	803,973		Koninklijke KPN NV		2,759
	512,976		Koninklijke Philips Electronics NV		21,165
	4,585		Koninklijke Vopak NV		201
	18,384		NN Group NV		770
	20,800	*	NXP Semiconductors NV		2,352
	7,211		Randstad Holdings NV		446
	1,042,308		Royal Dutch Shell plc (A Shares)		31,500
	1,700,030		Royal Dutch Shell plc (B Shares)		52,337
	3,000		Wereldhave NV		142
	188,250		Wolters Kluwer NV		8,700
			TOTAL NETHERLANDS		543,019

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
NEW ZEALAND - 0.1%
	4,000,000		Air New Zealand Ltd	$	9,744
	25,935		Auckland International Airport Ltd		121
	13,458		Contact Energy Ltd		53
	17,858		Fletcher Building Ltd		103
	79,970		Kiwi Property Group Ltd		78
	32,672	*	Meridian Energy Ltd		67
	18,457		Mighty River Power Ltd		45
	10,235		Ryman Healthcare Ltd		69
	41,884		Telecom Corp of New Zealand Ltd		111
			TOTAL NEW ZEALAND		10,391
NORWAY - 0.4%
	910,200		Aker BP ASA		17,635
	919,726		DNB NOR Holding ASA		18,569
	12,044		Gjensidige Forsikring BA		210
	82,194		Norsk Hydro ASA		600
	49,471		Orkla ASA		508
	24,246		PAN Fish ASA		479
	4,612	e	Schibsted ASA		119
	5,178		Schibsted ASA (B Shares)		123
	2,003,985		Statoil ASA		40,289
	45,360		Telenor ASA		961
	281,200	e	TGS Nopec Geophysical Co ASA		6,705
	10,847		Yara International ASA		486
			TOTAL NORWAY		86,684
PERU - 0.0%
	83,223		Southern Copper Corp (NY)		3,309
			TOTAL PERU		3,309
PHILIPPINES - 0.1%
	40,833,041		Megaworld Corp		4,209
	5,300,354		Metropolitan Bank & Trust		9,035
	5,471,450		Robinsons Retail Holdings, Inc		10,663
			TOTAL PHILIPPINES		23,907
POLAND - 0.0%
	150,000		KGHM Polska Miedz S.A.		4,832
			TOTAL POLAND		4,832
PORTUGAL - 0.1%
	140,706		Energias de Portugal S.A.		531
	29,220		Galp Energia SGPS S.A.		518
	661,672		Jeronimo Martins SGPS S.A.		13,061
			TOTAL PORTUGAL		14,110
RUSSIA - 0.1%
	734,800		Sberbank of Russian Federation (ADR)		10,478
			TOTAL RUSSIA		10,478

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
SINGAPORE - 0.4%
	236,145		Ascendas REIT	$	464
	190,297		CapitaCommercial Trust		233
	774,746		CapitaLand Ltd		2,050
	484,117		CapitaMall Trust		715
	144,900		City Developments Ltd		1,214
	52,448		ComfortDelgro Corp Ltd		81
	1,577,972		DBS Group Holdings Ltd		24,291
	163,392		Genting Singapore plc		141
	69,995		Global Logistic Properties		171
	186,265		Golden Agri-Resources Ltd		52
	2,366		Jardine Cycle & Carriage Ltd		69
	318,768		Keppel Corp Ltd		1,530
	54,756		Keppel Infrastructure Trust		22
	79,650		K-REIT Asia		69
	1,413,848		Oversea-Chinese Banking Corp		11,659
	25,948		SembCorp Industries Ltd		57
	286,485	e	SembCorp Marine Ltd		370
	114,684		Singapore Airlines Ltd		850
	17,300		Singapore Airport Terminal Services Ltd		59
	452,043		Singapore Exchange Ltd		2,467
	411,225	e	Singapore Press Holdings Ltd		826
	374,607		Singapore Technologies Engineering Ltd		952
	2,681,091		Singapore Telecommunications Ltd		7,288
	15,930	e	StarHub Ltd		31
	244,400		Suntec Real Estate Investment Trust		337
	585,362		United Overseas Bank Ltd		10,165
	53,631		UOL Group Ltd		322
	300,000		Venture Corp Ltd		3,902
	45,562		Wilmar International Ltd		107
			TOTAL SINGAPORE		70,494
SOUTH AFRICA - 0.1%
	39,713		Investec plc		290
	330,000		Kumba Iron Ore Ltd		5,374
	19,985		Mediclinic International plc		174
	580,100		Mondi plc		15,596
	32,300		Naspers Ltd (N Shares)		6,983
	11,172		Novus Holdings Ltd		5
			TOTAL SOUTH AFRICA		28,422
SPAIN - 0.8%
	41,675		Abertis Infraestructuras S.A. (Continuous)		843
	14,343		ACS Actividades Construccion y Servicios S.A.		532
	3,976	g	Aena S.A.		719
	475,975		Amadeus IT Holding S.A.		30,957
	4,000		Axia Real Estate SOCIMI S.A.		82
	663,095		Banco Bilbao Vizcaya Argentaria S.A.		5,928
	315,406		Banco de Sabadell S.A.		659
	2,994,970		Banco Santander S.A.		20,949
	59,287		Bankia S.A.		286
	41,174		Bankinter S.A.		390
	3,897,689		CaixaBank S.A.		19,564

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,566,995		Corp Mapfre S.A.	$	5,106
	936,785		Distribuidora Internacional de Alimentacion S.A.		5,471
	13,680		Enagas		385
	713,446		Endesa S.A.		16,099
	29,294		Ferrovial S.A.		645
	14,773		Gamesa Corp Tecnologica S.A.		193
	21,382		Gas Natural SDG S.A.		474
	63,323		Grifols S.A.		1,848
	7,000		Hispania Activos Inmobiliarios SAU		126
	2,238,362		Iberdrola S.A.		17,405
	592,294		Industria De Diseno Textil S.A.		22,330
	15,000		Inmobiliaria Colonial S.A.		149
	7,000		Lar Espana Real Estate Socimi S.A.		68
	108,528	*,†,e,m	Let’s GOWEX S.A.		1
	25,000		Merlin Properties Socimi S.A.		347
	26,382		Red Electrica Corp S.A.		555
	259,712		Repsol YPF S.A.		4,793
	996,389		Telefonica S.A.		10,828
			TOTAL SPAIN		167,732
SWEDEN - 0.6%
	17,957		Alfa Laval AB		439
	787,055		Assa Abloy AB		18,020
	40,857		Atlas Copco AB (A Shares)		1,733
	123,138		Atlas Copco AB (B Shares)		4,784
	24,322	e	Autoliv, Inc		3,006
	390,353		Boliden AB		13,241
	10,000		Castellum AB		157
	14,587	e	Electrolux AB (Series B)		496
	183,410		Ericsson (LM) (B Shares)		1,057
	36,207	*	Essity AB		987
	12,000		Fabege AB		246
	22,000	*	Fastighets AB Balder		573
	1,759	*,e,m	Getinge AB		33
	13,442		Getinge AB (B Shares)		252
	57,145		Hennes & Mauritz AB (B Shares)		1,484
	300,583		Hexagon AB (B Shares)		14,911
	25,671		Husqvarna AB (B Shares)		264
	4,553		ICA Gruppen AB		171
	11,018		Industrivarden AB		279
	413,283	e	Intrum Justitia AB		14,614
	300,251		Investment AB Kinnevik (B Shares)		9,809
	27,341		Investor AB (B Shares)		1,353
	200,000		JM AB		6,292
	20,000		Kungsleden AB		138
	2,433		Lundbergs AB (B Shares)		195
	10,291	*	Lundin Petroleum AB		226
	182,723		Nordea Bank AB		2,481
	67,943		Sandvik AB		1,173
	11,712	*,e	SAS AB		38
	18,680		Securitas AB (B Shares)		313
	333,175		Skandinaviska Enskilda Banken AB (Class A)		4,396
	20,506		Skanska AB (B Shares)		476

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	23,458		SKF AB (B Shares)	$	512
	91,221		Svenska Handelsbanken AB		1,378
	212,725		Swedbank AB (A Shares)		5,891
	10,672		Swedish Match AB		375
	21,139		Tele2 AB (B Shares)		242
	157,356		TeliaSonera AB		742
	353,222		Volvo AB (B Shares)		6,820
			TOTAL SWEDEN		119,597
SWITZERLAND - 2.7%
	595,382		ABB Ltd		14,723
	348,687		Adecco S.A.		27,164
	55,063		Baloise Holding AG.		8,719
	140		Barry Callebaut AG.		214
	306,420		Cie Financiere Richemont S.A.		28,048
	11,126		Coca-Cola HBC AG.		377
	2,027,982		Credit Suisse Group		32,133
	2,158	*	Dufry Group		343
	498		EMS-Chemie Holding AG.		331
	36,000		Flughafen Zuerich AG.		8,147
	2,261		Geberit AG.		1,070
	8,000		Georg Fischer AG.		9,873
	556		Givaudan S.A.		1,210
	7,367,325		Glencore Xstrata plc		33,816
	27,497		Holcim Ltd		1,610
	13,447		Julius Baer Group Ltd		798
	3,174		Kuehne & Nagel International AG.		588
	61		Lindt & Spruengli AG.		348
	6		Lindt & Spruengli AG. (Registered)		416
	364,389		Lonza Group AG.		95,748
	970,410		Nestle S.A.		81,457
	1,258,453		Novartis AG.		107,944
	2,453		Pargesa Holding S.A.		204
	1,043		Partners Group		708
	3,186		Phonak Holding AG.		541
	3,500		PSP Swiss Property AG.		323
	137,440		Roche Holding AG.		35,132
	2,524		Schindler Holding AG.		558
	1,228		Schindler Holding AG. (Registered)		265
	334		SGS S.A.		802
	127		Sika AG.		946
	38,324		STMicroelectronics NV		744
	574		Straumann Holding AG.		369
	2,028		Swatch Group AG.		845
	2,461		Swatch Group AG. (Registered)		196
	1,989		Swiss Life Holding		701
	7,807		Swiss Prime Site AG.		702
	144,450		Swiss Re Ltd		13,094
	1,559		Swisscom AG.		799
	312,201		UBS AG.		5,341
	17,878	e	Vifor Pharma AG.		2,109
	218,122		Wolseley plc		14,311
	34,330		Zurich Financial Services AG.		10,491
			TOTAL SWITZERLAND		544,258

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
TAIWAN - 0.3%
	8,255,322		Advanced Semiconductor Engineering, Inc	$	10,127
	1,200,000		Basso Industry Corp		3,353
	3,290,000		Hon Hai Precision Industry Co, Ltd		11,426
	2,238,478		Hota Industrial Manufacturing Co Ltd		10,582
	60,000		Largan Precision Co Ltd		10,585
	372,000		Nien Made Enterprise Co Ltd		3,820
	90,000		Silicon Motion Technology Corp (ADR)		4,323
	465,000		Taiwan Semiconductor Manufacturing Co Ltd		3,330
			TOTAL TAIWAN		57,546
THAILAND - 0.1%
	3,000,000		Delta Electronics Thai PCL		7,864
	3,028,000		Tisco Financial Group PCL (ADR)		6,999
			TOTAL THAILAND		14,863
UNITED KINGDOM - 5.0%
	58,488		3i Group plc		716
	11,335		Admiral Group plc		276
	80,199		Anglo American plc (London)		1,442
	1,482,715		Ashtead Group plc		35,769
	156,900	*	ASOS plc		12,532
	112,845		Associated British Foods plc		4,831
	517,982		AstraZeneca plc		34,447
	1,150,919	g	Auto Trader Group plc		6,055
	1,335,864		Aviva plc		9,220
	16,079		Babcock International Group		178
	191,859		BAE Systems plc		1,625
	8,082,056		Barclays plc		20,957
	60,707		Barratt Developments plc		500
	1,028,700		Beazley plc		6,616
	296,731	*	Belmond Ltd.		4,050
	7,832		Berkeley Group Holdings plc		390
	100,000		Big Yellow Group plc		1,014
	3,086,000	*	boohoo.com plc		8,746
	5,392,780		BP plc		34,546
	1,388,946		British American Tobacco plc		86,953
	19,312		British American Tobacco plc (ADR)		1,206
	258,839		British Land Co plc		2,090
	959,319		Britvic plc		9,722
	509,035		BT Group plc		1,936
	20,198		Bunzl plc		614
	26,019		Burberry Group plc		614
	39,317		Capita Group plc		297
	20,000		Capital & Counties Properties		71
	328,405		Centrica plc		823
	686,400		Cineworld Group plc		6,235
	5,665,420		CNH Industrial NV		68,015
	136,113		Cobham plc		266
	13,051		Coca-Cola European Partners plc		547
	94,882		Compass Group plc		2,013

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	78,798	g	ConvaTec Group plc	$	290
	8,076		Croda International plc		411
	102,330	*	CYBG plc		417
	5,222		DCC plc		507
	30,000		Derwent London plc		1,124
	1,011,865		Diageo plc		33,276
	79,087		Direct Line Insurance Group plc		386
	9,472		easyJet plc		155
	2,677,300		Electrocomponents plc		22,308
	56,799		Experian Group Ltd		1,141
	861,174		Fevertree Drinks plc		25,264
	902,210	*	Fiat DaimlerChrysler Automobiles NV		16,169
	101,969		GKN plc		472
	1,641,582		GlaxoSmithKline plc		32,816
	140,000		Great Portland Estates plc		1,147
	94,117		Group 4 Securicor plc		351
	148,355		Hammerson plc		1,068
	16,494		Hargreaves Lansdown plc		327
	4,042,775		Hays plc		10,269
	1,519,672		HSBC Holdings plc		15,023
	17,261		IMI plc		288
	57,654		Imperial Tobacco Group plc		2,461
	800,000		Inchcape plc		9,253
	27,869		Inmarsat plc		240
	10,950		InterContinental Hotels Group plc		579
	37,665		International Consolidated Airlines Group S.A.		300
	315,000		International Consolidated Airlines Group S.A. (London)		2,505
	9,453		Intertek Group plc		632
	77,191	e	Intu Properties plc		239
	219,800		ITV plc		515
	99,685		J Sainsbury plc		318
	11,789		Johnson Matthey plc		541
	1,426,714	*	Just Eat plc		12,779
	134,202		Kingfisher plc		537
	145,182		Land Securities Group plc		1,894
	7,478,659		Legal & General Group plc		26,067
	125,336	*	Liberty Global plc		4,098
	174,968	*	Liberty Global plc (Class A)		5,933
	5,975,906		Lloyds TSB Group plc		5,431
	102,870		London Stock Exchange Group plc		5,282
	3,660,337		Man Group plc		8,242
	96,028		Marks & Spencer Group plc		455
	46,729		Meggitt plc		326
	45,058	g	Merlin Entertainments plc		269
	26,348		Micro Focus International plc		843
	90	*	Micro Focus International plc (ADR)		3
	206,591		National Grid plc		2,559
	55,600		New Carphone Warehouse plc		144
	21,245		Next plc		1,498
	293,104		Old Mutual plc		763
	47,020		Pearson plc		386
	31,687		Pentair plc		2,153
	18,400		Persimmon plc		637

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	9,149	e	Provident Financial plc	$	102
	2,597,880		Prudential plc		62,169
	2,154,808	*,e	Purplebricks Group plc		11,189
	124,305		Reckitt Benckiser Group plc		11,357
	888,787		Reed Elsevier NV		18,908
	157,201		Reed Elsevier plc		3,450
	227,462		Rightmove plc		12,335
	73,560	e	Rio Tinto Ltd		3,856
	646,533		Rio Tinto plc		30,096
	99,458		Rolls-Royce Group plc		1,183
	213,174	*	Royal Bank of Scotland Group plc		767
	53,015		Royal Mail plc		273
	59,514		RSA Insurance Group plc		497
	50,000		Safestore Holdings plc		293
	65,833		Sage Group plc		616
	8,062		Schroders plc		363
	60,702		Scottish & Southern Energy plc		1,136
	175,431		Segro plc		1,261
	13,687		Severn Trent plc		399
	15,000		Shaftesbury plc		204
	447,462		Shire Ltd		22,791
	61,497		Sky plc		754
	123,711		Smith & Nephew plc		2,236
	24,291		Smiths Group plc		514
	32,383		St. James’s Place plc		498
	552,808	*	Standard Chartered plc		5,497
	160,839		Standard Life plc		935
	26,758		Tate & Lyle plc		232
	4,100,341		Taylor Wimpey plc		10,747
	63,029	*	TechnipFMC plc		1,760
	7,564,827	*	Tesco plc		18,971
	513,236		Travis Perkins plc		9,958
	395,869		Unilever NV		23,400
	77,076		Unilever plc		4,461
	41,560		United Utilities Group plc		476
	1,991,100		Vesuvius plc		15,752
	20,734,108		Vodafone Group plc		58,059
	12,750		Weir Group plc		336
	164,565		Whitbread plc		8,307
	133,097		WM Morrison Supermarkets plc		417
	119,895	g	Worldpay Group plc		654
	856,164		WPP plc		15,887
	431,478	g	ZPG plc		2,091
			TOTAL UNITED KINGDOM		991,590
UNITED STATES - 59.0%
	417,990		3M Co		87,736
	27,259		A.O. Smith Corp		1,620
	191,200		Aaron’s, Inc		8,342
	2,019,477		Abbott Laboratories		107,759
	955,296		AbbVie, Inc		84,888
	27,878		Abercrombie & Fitch Co (Class A)		403
	80,000	*	Acadia Pharmaceuticals, Inc		3,014

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	179,358		Accenture plc	$	24,226
	227,345		Activision Blizzard, Inc		14,666
	8,033		Acuity Brands, Inc		1,376
	89,224	*	Adobe Systems, Inc		13,310
	22,225		Advance Auto Parts, Inc		2,205
	469,915	*	Advanced Micro Devices, Inc		5,991
	158,695		AES Corp		1,749
	252,739		Aetna Inc		40,188
	9,297		Affiliated Managers Group, Inc		1,765
	83,447		Aflac, Inc		6,792
	30,033		AGCO Corp		2,216
	220,884		Agilent Technologies, Inc		14,181
	46,054		AGNC Investment Corp		998
	10,000		Agree Realty Corp		491
	184,841		Air Products & Chemicals, Inc		27,952
	651,035	*,e	AK Steel Holding Corp		3,639
	32,432	*	Akamai Technologies, Inc		1,580
	48,300		Alaska Air Group, Inc		3,684
	127,920		Albemarle Corp		17,437
	34,505		Alexandria Real Estate Equities, Inc		4,105
	488,227	*	Alexion Pharmaceuticals, Inc		68,493
	23,912	*	Align Technology, Inc		4,454
	23,114	*	Alkermes plc		1,175
	5,398	*	Alleghany Corp		2,991
	22,878		Allegion plc		1,978
	335,435		Allergan plc		68,747
	10,276		Alliance Data Systems Corp		2,277
	84,340		Alliant Energy Corp		3,506
	170,000		Allison Transmission Holdings, Inc		6,380
	170,658		Allstate Corp		15,685
	126,681		Ally Financial, Inc		3,073
	130,489	*	Alphabet, Inc (Class A)		127,060
	178,392	*	Alphabet, Inc (Class C)		171,098
	413,125		Altria Group, Inc		26,200
	225,375	*	Amazon.com, Inc		216,664
	65,000	*	AMC Networks, Inc		3,801
	120,000		Amdocs Ltd		7,718
	3,083		Amerco, Inc		1,156
	75,354		Ameren Corp		4,358
	24,914		American Airlines Group, Inc		1,183
	283,190		American Electric Power Co, Inc		19,891
	514,252		American Express Co		46,519
	147,869		American Financial Group, Inc		15,297
	35,000		American Homes 4 Rent		760
	1,199,432		American International Group, Inc		73,633
	81,412		American Tower Corp		11,127
	53,556		American Water Works Co, Inc		4,333
	139,847		Ameriprise Financial, Inc		20,769
	42,008		AmerisourceBergen Corp		3,476
	59,391		Ametek, Inc		3,922
	210,791		Amgen, Inc		39,302
	68,520		Amphenol Corp (Class A)		5,800
	568,293		Anadarko Petroleum Corp		27,761

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	70,332		Analog Devices, Inc	$	6,061
	47,575	b	Andeavor		4,907
	325,512		Annaly Capital Management, Inc		3,968
	24,674	*	Ansys, Inc		3,028
	47,907	*	Antero Resources Corp		953
	172,137		Anthem, Inc		32,685
	55,174		Aon plc		8,061
	53,660		Apache Corp		2,458
	30,000		Apartment Investment & Management Co (Class A)		1,316
	2,574,538		Apple, Inc		396,788
	921,050		Applied Materials, Inc		47,977
	81,196		ARAMARK Holdings Corp		3,297
	38,538	*	Arch Capital Group Ltd		3,796
	121,114		Archer Daniels Midland Co		5,149
	55,056		Arconic, Inc		1,370
	14,912	*	Arista Networks, Inc		2,827
	26,254	*	Arrow Electronics, Inc		2,111
	53,623		Arthur J. Gallagher & Co		3,300
	42,000	*	Asbury Automotive Group, Inc		2,566
	162,562		Ashland Global Holdings, Inc		10,630
	24,898		Assurant, Inc		2,378
	2,077,096		AT&T, Inc		81,360
	194,704	*	Athene Holding Ltd		10,483
	42,651		Atmos Energy Corp		3,576
	30,413	*	Autodesk, Inc		3,414
	85,230		Automatic Data Processing, Inc		9,317
	28,488	*,e	Autonation, Inc		1,352
	6,687	*	AutoZone, Inc		3,980
	35,652		AvalonBay Communities, Inc		6,361
	30,110		Avery Dennison Corp		2,961
	53,007		Avnet, Inc		2,083
	128,948	*	Axalta Coating Systems Ltd		3,729
	37,127		Axis Capital Holdings Ltd		2,128
	83,153		Baker Hughes a GE Co		3,045
	92,981		Ball Corp		3,840
	8,914,422		Bank of America Corp		225,892
	755,637		Bank of New York Mellon Corp		40,064
	22,604		Bard (C.R.), Inc		7,245
	70,000		Barnes Group, Inc		4,931
	727,371		Baxter International, Inc		45,643
	160,879		BB&T Corp		7,552
	51,568		Becton Dickinson & Co		10,105
	67,701		Bed Bath & Beyond, Inc		1,589
	583,288	*	Berkshire Hathaway, Inc (Class B)		106,928
	778,280	*	Berry Plastics Group, Inc		44,090
	175,064		Best Buy Co, Inc		9,972
	32,307	*	Biogen Idec, Inc		10,116
	48,193	*	BioMarin Pharmaceutical, Inc		4,485
	6,012	*	Bioverativ, Inc		343
	43,056		BlackRock, Inc		19,250
	165,000		Blackstone Group LP		5,506
	183,241		Boeing Co		46,582
	33,307		BorgWarner, Inc		1,706

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	55,216		Boston Properties, Inc	$	6,785
	657,981	*	Boston Scientific Corp		19,193
	18,989	*	Brighthouse Financial, Inc		1,155
	90,000	e	Brinker International, Inc		2,867
	564,274		Bristol-Myers Squibb Co		35,967
	111,967		Brixmor Property Group, Inc		2,105
	301,339		Broadcom Ltd		73,087
	38,679		Broadridge Financial Solutions, Inc		3,126
	68,689		Brown-Forman Corp (Class B)		3,730
	118,650		Bunge Ltd		8,241
	87,787		CA, Inc		2,930
	78,496		Cabot Oil & Gas Corp		2,100
	97,000	*	CACI International, Inc (Class A)		13,517
	79,614	*	Cadence Design Systems, Inc		3,142
	150,000		CalAtlantic Group, Inc		5,495
	182,636	*	Callon Petroleum Co		2,053
	40,334		Camden Property Trust		3,689
	59,929		Campbell Soup Co		2,806
	180,901		Capital One Financial Corp		15,315
	79,733		Cardinal Health, Inc		5,336
	33,537	*,e	Carmax, Inc		2,542
	177,457		Carnival Corp		11,458
	111,462		Carnival plc		7,088
	50,000		Carter’s, Inc		4,938
	437,825		Caterpillar, Inc		54,601
	37,627		CBOE Holdings, Inc		4,050
	42,776	*	CBRE Group, Inc		1,620
	385,884		CBS Corp (Class B)		22,381
	39,017		CDK Global, Inc		2,462
	256,484		CDW Corp		16,928
	25,619		Celanese Corp (Series A)		2,671
	261,724	*	Celgene Corp		38,165
	145,030	*	Centene Corp		14,035
	170,431		Centerpoint Energy, Inc		4,978
	103,850	e	CenturyLink, Inc		1,963
	109,830	*	Cerner Corp		7,833
	39,661		CF Industries Holdings, Inc		1,394
	49,507		CH Robinson Worldwide, Inc		3,767
	181,660		Charles Schwab Corp		7,946
	59,965	*	Charter Communications, Inc		21,792
	40,000		Chemed Corp		8,082
	200,000		Chemours Co		10,122
	46,982	*	Cheniere Energy, Inc		2,116
	978,700		Chevron Corp		114,997
	7,490	*	Chipotle Mexican Grill, Inc (Class A)		2,306
	381,151		Chubb Ltd		54,333
	71,689		Church & Dwight Co, Inc		3,473
	1,793,808	*	Ciena Corp		39,410
	602,727		Cigna Corp		112,674
	50,808		Cimarex Energy Co		5,775
	47,411		Cincinnati Financial Corp		3,630
	26,674		Cintas Corp		3,849
	80,000	*	Cirrus Logic, Inc		4,266

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,854,016		Cisco Systems, Inc	$	129,611
	171,544		CIT Group, Inc		8,414
	1,245,999		Citigroup, Inc		90,634
	554,772		Citizens Financial Group, Inc		21,009
	26,123	*	Citrix Systems, Inc		2,007
	34,698		Clorox Co		4,577
	87,979		CME Group, Inc		11,937
	88,849		CMS Energy Corp		4,115
	70,311		Coach, Inc		2,832
	1,311,862		Coca-Cola Co		59,047
	111,547		Cognizant Technology Solutions Corp (Class A)		8,092
	212,290	*	Colfax Corp		8,840
	295,816		Colgate-Palmolive Co		21,550
	67,950		Colony NorthStar, Inc		853
	4,458,389		Comcast Corp (Class A)		171,559
	158,746		Comerica, Inc		12,106
	237,468	*	CommScope Holding Co, Inc		7,886
	1,440,700		ConAgra Foods, Inc		48,609
	635,055	*	Concho Resources, Inc		83,649
	187,995		ConocoPhillips		9,409
	300,000		Conseco, Inc		7,002
	75,541		Consolidated Edison, Inc		6,095
	46,379		Constellation Brands, Inc (Class A)		9,250
	223,528	*	Continental Resources, Inc		8,630
	18,280		Cooper Cos, Inc		4,334
	17,167	e	Core Laboratories NV		1,694
	182,592		Corning, Inc		5,463
	8,822	*	CoStar Group, Inc		2,367
	407,139		Costco Wholesale Corp		66,889
	166,729		Coty, Inc		2,756
	22,500	*,e	Credit Acceptance Corp		6,304
	139,791		Crown Castle International Corp		13,976
	47,285	*	Crown Holdings, Inc		2,824
	120,000		CSRA, Inc		3,872
	259,233		CSX Corp		14,066
	14,000		CubeSmart		363
	203,928		Cummins, Inc		34,266
	275,441		CVS Health Corp		22,399
	208,009		Danaher Corp		17,843
	106,675		Darden Restaurants, Inc		8,404
	47,904	*	DaVita, Inc		2,845
	20,000		DDR Corp		183
	56,501		Deere & Co		7,096
	368,016		Delek US Holdings, Inc		9,837
	62,521	*	Dell Technologies, Inc-VMware Inc		4,827
	320,904		Delphi Automotive plc		31,577
	141,268		Delta Air Lines, Inc		6,812
	110,000		Deluxe Corp		8,026
	32,781		Dentsply Sirona, Inc		1,961
	71,218		Devon Energy Corp		2,614
	29,902	*	DexCom, Inc		1,463
	167,423	*	Diamondback Energy, Inc		16,401
	35,311		DiamondRock Hospitality Co		387

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	35,133		Dick’s Sporting Goods, Inc	$	949
	43,987		Digital Realty Trust, Inc		5,205
	184,856		Discover Financial Services		11,920
	47,708	*,e	Discovery Communications, Inc (Class A)		1,016
	54,511	*	Discovery Communications, Inc (Class C)		1,104
	56,436	*	DISH Network Corp (Class A)		3,061
	72,779		Dollar General Corp		5,899
	53,746	*	Dollar Tree, Inc		4,666
	118,760		Dominion Resources, Inc		9,136
	15,296		Domino’s Pizza, Inc		3,037
	129,544		Dover Corp		11,839
	1,668,164		DowDuPont, Inc		115,487
	86,196		DR Horton, Inc		3,442
	46,812		Dr Pepper Snapple Group, Inc		4,141
	93,784		DTE Energy Co		10,069
	125,443		Duke Energy Corp		10,527
	125,982		Duke Realty Corp		3,631
	654,059		DXC Technology Co		56,171
	773,440	*	E*TRADE Financial Corp		33,730
	28,697		East West Bancorp, Inc		1,716
	34,868		Eastman Chemical Co		3,155
	95,545		Eaton Corp		7,337
	23,359		Eaton Vance Corp		1,153
	1,187,497	*	eBay, Inc		45,671
	218,688		Ecolab, Inc		28,125
	75,751		Edison International		5,846
	7,000		Education Realty Trust, Inc		252
	73,530	*	Edwards Lifesciences Corp		8,038
	117,484	*	Electronic Arts, Inc		13,870
	717,331		Eli Lilly & Co		61,360
	85,000		EMCOR Group, Inc		5,897
	125,296		Emerson Electric Co		7,874
	48,982		Entergy Corp		3,740
	16,693	*	Envision Healthcare Corp		750
	1,120,971		EOG Resources, Inc		108,443
	54,787		EQT Corp		3,574
	27,099		Equifax, Inc		2,872
	17,687		Equinix, Inc		7,894
	17,000		Equity Lifestyle Properties, Inc		1,446
	115,149		Equity Residential		7,592
	24,087		Essex Property Trust, Inc		6,119
	311,206		Estee Lauder Cos (Class A)		33,560
	13,092		Everest Re Group Ltd		2,990
	82,765		Eversource Energy		5,002
	243,636		Exelon Corp		9,178
	29,780		Expedia, Inc		4,287
	59,627		Expeditors International of Washington, Inc		3,569
	198,888	*	Express Scripts Holding Co		12,594
	42,798		Extra Space Storage, Inc		3,420
	1,660,575	d	Exxon Mobil Corp		136,134
	21,865	*	F5 Networks, Inc		2,636
	1,332,097	*	Facebook, Inc		227,615
	82,334		Fastenal Co		3,753

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	31,912		Federal Realty Investment Trust	$	3,964
	291,950		FedEx Corp		65,858
	73,351		Fidelity National Information Services, Inc		6,850
	161,706		Fifth Third Bancorp		4,525
	60,976	*	First Data Corp		1,100
	35,417		First Republic Bank		3,700
	589,171		FirstEnergy Corp		18,164
	45,419	*	Fiserv, Inc		5,857
	16,539	*	FleetCor Technologies, Inc		2,560
	1,264,132	*	Flex Ltd		20,947
	64,239		Flir Systems, Inc		2,500
	29,571		Flowserve Corp		1,259
	34,328		Fluor Corp		1,445
	25,843		FMC Corp		2,308
	75,430		FNF Group		3,580
	47,913		Foot Locker, Inc		1,687
	563,114		Ford Motor Co		6,740
	42,871	*	Fortinet, Inc		1,537
	165,780		Fortive Corp		11,736
	32,920		Fortune Brands Home & Security, Inc		2,213
	30,000		Four Corners Property Trust, Inc		748
	63,916		Franklin Resources, Inc		2,845
	1,858,819	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		26,098
	273,846		Gaming and Leisure Properties, Inc		10,102
	90,745		Gap, Inc		2,680
	106,248	*	Gardner Denver Holdings, Inc		2,924
	38,477		Garmin Ltd		2,077
	53,135	*	Gartner, Inc		6,611
	368,923		General Dynamics Corp		75,843
	2,151,767		General Electric Co		52,030
	113,257		General Mills, Inc		5,862
	4,461,000	*,†,m	General Motors Co		0
	29,845,445	*,†,m	General Motors Co		0
	203,138		General Motors Co		8,203
	69,850,000	*,†,m	General Motors Co		0
	13,592,224	*,†,m	General Motors Co		0
	26,439,985	*,†,m	General Motors Co		0
	19,417,463	*,†,m	General Motors Co		0
	61,921,000	*,†,e,m	General Motors Co		0
	18,159,000	*,†,m	General Motors Co		0
	530,757	*,†,m	General Motors Co		0
	18,106,794	*,†,m	General Motors Co		0
	39,022		Genuine Parts Co		3,732
	161,544		GGP, Inc		3,355
	321,062		Gilead Sciences, Inc		26,012
	30,129		Global Payments, Inc		2,863
	200,139		Goldman Sachs Group, Inc		47,471
	161,435		Goodyear Tire & Rubber Co		5,368
	56,352	*	GrubHub, Inc		2,967
	95,512		H&R Block, Inc		2,529
	138,545		Halliburton Co		6,377
	125,299	e	Hanesbrands, Inc		3,087

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	37,504		Harley-Davidson, Inc	$	1,808
	32,423		Harris Corp		4,269
	168,466		Hartford Financial Services Group, Inc		9,338
	30,803		Hasbro, Inc		3,009
	210,359	*	HCA Holdings, Inc		16,742
	143,512		HCP, Inc		3,994
	587,515	*	HD Supply Holdings, Inc		21,192
	35,000		Healthcare Trust of America, Inc		1,043
	170,000		Healthsouth Corp		7,880
	17,768	e	Helmerich & Payne, Inc		926
	40,334	*	Henry Schein, Inc		3,307
	180,000		Herman Miller, Inc		6,462
	36,548		Hershey Co		3,990
	38,976		Hess Corp		1,828
	232,728		Hewlett Packard Enterprise Co		3,423
	111,243		Hilltop Holdings, Inc		2,892
	27,449		Hilton Worldwide Holdings, Inc		1,906
	66,251		HollyFrontier Corp		2,383
	293,546	*	Hologic, Inc		10,770
	667,311		Home Depot, Inc		109,145
	520,362		Honeywell International, Inc		73,756
	108,198		Hormel Foods Corp		3,477
	185,362		Host Marriott Corp		3,427
	234,974		HP, Inc		4,690
	35,000		Hudson Pacific Properties		1,174
	113,176		Humana, Inc		27,573
	1,566,787		Huntington Bancshares, Inc		21,872
	73,393		Huntington Ingalls		16,619
	31,000	*	IAC/InterActiveCorp		3,645
	25,157		IDEX Corp		3,056
	23,570	*	Idexx Laboratories, Inc		3,665
	57,438	*	IHS Markit Ltd		2,532
	58,333		Illinois Tool Works, Inc		8,631
	79,719	*	Illumina, Inc		15,880
	103,025	*	Imax Corp		2,334
	27,008	*	Incyte Corp		3,153
	245,557		Ingersoll-Rand plc		21,896
	72,151		Ingredion, Inc		8,704
	1,009,369		Intel Corp		38,437
	133,656		IntercontinentalExchange Group, Inc		9,182
	42,000		InterDigital, Inc		3,098
	159,031		International Business Machines Corp		23,072
	27,461		International Flavors & Fragrances, Inc		3,924
	150,000		International Game Technology plc		3,683
	93,822		International Paper Co		5,331
	788,487		Interpublic Group of Cos, Inc		16,393
	60,695		Intuit, Inc		8,627
	12,538	*	Intuitive Surgical, Inc		13,113
	62,815		Invesco Ltd		2,201
	24,000		Invitation Homes, Inc		544
	62,114		Iron Mountain, Inc		2,416
	7,456		Iron Mountain, Inc (CDI)		289
	35,000		iShares Dow Jones US Real Estate Index Fund		2,796

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	462,081		iShares MSCI Canada Index Fund	$	13,373
	2,021,736		iShares MSCI EAFE Index Fund		138,449
	63,206	e	iShares NASDAQ Biotechnology ETF		21,085
	140,000		ITT, Inc		6,198
	29,870		J.B. Hunt Transport Services, Inc		3,318
	34,303		J.M. Smucker Co		3,599
	27,784		Jack Henry & Associates, Inc		2,856
	26,911		Jacobs Engineering Group, Inc		1,568
	74,879	*	Jazz Pharmaceuticals plc		10,951
	14,307	*	JBG SMITH Properties		489
	1,108,372		Johnson & Johnson		144,099
	133,322		Johnson Controls International plc		5,372
	8,240		Jones Lang LaSalle, Inc		1,018
	2,328,093		JPMorgan Chase & Co		222,356
	331,718		Juniper Networks, Inc		9,232
	31,468		Kansas City Southern Industries, Inc		3,420
	63,667		Kellogg Co		3,971
	52,000		Kennametal, Inc		2,098
	229,127		Keycorp		4,312
	17,000		Kilroy Realty Corp		1,209
	93,712		Kimberly-Clark Corp		11,028
	139,305		Kimco Realty Corp		2,723
	574,556		Kinder Morgan, Inc		11,020
	109,624		Kla-Tencor Corp		11,620
	18,830	*	Knight-Swift Transportation Holdings, Inc		782
	133,201		Kohl’s Corp		6,081
	130,000		Korn/Ferry International		5,126
	392,029		Kraft Heinz Co		30,402
	262,582		Kroger Co		5,267
	60,577		L Brands, Inc		2,521
	11,026		L3 Technologies, Inc		2,078
	88,428	*	Laboratory Corp of America Holdings		13,350
	89,819		Lam Research Corp		16,620
	112,382		Las Vegas Sands Corp		7,210
	107,921		Lear Corp		18,679
	43,798		Leggett & Platt, Inc		2,090
	133,274		Leidos Holdings, Inc		7,892
	40,664		Lennar Corp (Class A)		2,147
	13,352		Lennox International, Inc		2,390
	96,216		Leucadia National Corp		2,429
	66,074	*	Level 3 Communications, Inc		3,521
	144	*	Liberty Braves Group (Class A)		4
	33,818	*	Liberty Broadband Corp (Class C)		3,223
	394,119	*	Liberty Interactive Corp		9,289
	50,181		Liberty Property Trust		2,060
	13,546	*	Liberty SiriusXM Group (Class A)		568
	24,416	*	Liberty SiriusXM Group (Class C)		1,022
	243,593		Lincoln National Corp		17,899
	65,706	*	LKQ Corp		2,365
	43,643		Lockheed Martin Corp		13,542
	85,043		Loews Corp		4,070
	240,100		Lowe’s Companies, Inc		19,194
	40,969	*	Lululemon Athletica, Inc		2,550

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	498,636	*	Lumentum Holdings, Inc	$	27,101
	68,666		LyondellBasell Industries AF S.C.A		6,801
	54,425		M&T Bank Corp		8,765
	55,549		Macerich Co		3,054
	27,956		Macquarie Infrastructure Co LLC		2,018
	112,706		Macy’s, Inc		2,459
	18,359	*	Mallinckrodt plc		686
	114,952		Manpower, Inc		13,544
	113,606		Marathon Oil Corp		1,541
	137,031		Marathon Petroleum Corp		7,685
	4,147	*	Markel Corp		4,429
	52,832		Marriott International, Inc (Class A)		5,825
	181,288		Marsh & McLennan Cos, Inc		15,194
	14,321		Martin Marietta Materials, Inc		2,953
	144,743		Masco Corp		5,646
	125,000	*	Mastec, Inc		5,800
	370,355		MasterCard, Inc (Class A)		52,294
	241,916	*	Matador Resources Co		6,568
	418,196		Mattel, Inc		6,474
	68,689		Maxim Integrated Products, Inc		3,277
	33,970		McCormick & Co, Inc		3,487
	589,417		McDonald’s Corp		92,350
	46,115		McKesson Corp		7,084
	43,038	*	MEDNAX, Inc		1,856
	247,376		Medtronic plc		19,238
	694,616		Merck & Co, Inc		44,476
	64,455	e	Merrimack Pharmaceuticals, Inc		937
	497,316		Metlife, Inc		25,836
	6,619	*	Mettler-Toledo International, Inc		4,145
	406,570		MGM Growth Properties LLC		12,282
	786,703		MGM Resorts International		25,639
	116,973	*	Michael Kors Holdings Ltd		5,597
	200,000	*	Michaels Cos, Inc		4,294
	50,312		Microchip Technology, Inc		4,517
	251,785	*	Micron Technology, Inc		9,903
	3,615,849		Microsoft Corp		269,345
	43,706		Mid-America Apartment Communities, Inc		4,671
	11,539	*	Middleby Corp		1,479
	58,441	*	Mohawk Industries, Inc		14,465
	195,212		Molson Coors Brewing Co (Class B)		15,937
	594,569		Mondelez International, Inc		24,175
	206,239		Monsanto Co		24,712
	515,807	*	Monster Beverage Corp		28,498
	35,799		Moody’s Corp		4,984
	1,158,663		Morgan Stanley		55,813
	73,896		Mosaic Co		1,595
	46,033		Motorola, Inc		3,907
	28,763		MSCI, Inc (Class A)		3,362
	21,554		Murphy Oil Corp		572
	724,645	*	Mylan NV		22,732
	42,077		NASDAQ OMX Group, Inc		3,264
	96,924		National Oilwell Varco, Inc		3,463
	68,081		National Retail Properties, Inc		2,836

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	37,075		Navient Corp	$	557
	259,791		NetApp, Inc		11,368
	83,723	*	NetFlix, Inc		15,183
	207,082		New York Community Bancorp, Inc		2,669
	355,702		Newell Rubbermaid, Inc		15,178
	24,700	*	Newfield Exploration Co		733
	380,889		Newmont Mining Corp		14,287
	91,575		News Corp		1,214
	154,132		NextEra Energy, Inc		22,588
	50,861		Nielsen NV		2,108
	1,063,166		Nike, Inc (Class B)		55,125
	125,083		NiSource, Inc		3,201
	87,610		Noble Energy, Inc		2,485
	39,533		Nordstrom, Inc		1,864
	46,507		Norfolk Southern Corp		6,150
	45,995		Northern Trust Corp		4,228
	141,023		Northrop Grumman Corp		40,575
	39,061	*	Norwegian Cruise Line Holdings Ltd		2,111
	81,302	*	Nuance Communications, Inc		1,278
	48,172		Nucor Corp		2,700
	205,530		NVIDIA Corp		36,743
	8,702	*	NVR, Inc		24,844
	282,984		Occidental Petroleum Corp		18,170
	69,549		OGE Energy Corp		2,506
	761,476		Olin Corp		26,081
	55,323		Omnicom Group, Inc		4,098
	54,172		Oneok, Inc		3,002
	2,075,567		Oracle Corp		100,354
	20,679	*	O’Reilly Automotive, Inc		4,454
	201,668		Owens Corning, Inc		15,599
	75,093		PACCAR, Inc		5,432
	31,335		Packaging Corp of America		3,594
	17,432	*	Palo Alto Networks, Inc		2,512
	364,957		Parker-Hannifin Corp		63,875
	886,532	*	Parsley Energy, Inc		23,351
	36,233		Patterson Cos, Inc		1,400
	45,024		Paychex, Inc		2,700
	1,132,208	*	PayPal Holdings, Inc		72,495
	147,212		People’s United Financial, Inc		2,670
	500,158		PepsiCo, Inc		55,733
	46,409		Perrigo Co plc		3,929
	3,544,421		Pfizer, Inc		126,536
	520,074		PG&E Corp		35,412
	912,890		Philip Morris International, Inc		101,340
	130,418		Phillips 66		11,948
	400,000	*	Pilgrim’s Pride Corp		11,364
	554,015		Pinnacle Foods, Inc		31,673
	40,763		Pinnacle West Capital Corp		3,447
	85,546		Pioneer Natural Resources Co		12,621
	377,000		Plains All American Pipeline LP		7,989
	106,219		Plains GP Holdings LP		2,323
	149,426		PNC Financial Services Group, Inc		20,138
	15,233	e	Polaris Industries, Inc		1,594

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	140,942		PPG Industries, Inc	$	15,315
	153,471		PPL Corp		5,824
	86,512		Praxair, Inc		12,089
	13,607	*	Priceline.com, Inc		24,912
	51,184		Principal Financial Group		3,293
	604,956		Procter & Gamble Co		55,039
	484,920		Progressive Corp		23,480
	176,153		Prologis, Inc		11,179
	48,000	*	Proofpoint, Inc		4,187
	76,338		Prudential Financial, Inc		8,116
	123,667		Public Service Enterprise Group, Inc		5,720
	36,827		Public Storage, Inc		7,881
	69,230		Pulte Homes, Inc		1,892
	25,638		PVH Corp		3,232
	17,856	*	QIAGEN NV		564
	24,406	*	Qorvo, Inc		1,725
	18,000		QTS Realty Trust, Inc		942
	265,161		Qualcomm, Inc		13,746
	53,450		Quest Diagnostics, Inc		5,005
	53,401	*	Quintiles Transnational Holdings, Inc		5,077
	22,747		Ralph Lauren Corp		2,008
	63,493		Range Resources Corp		1,243
	31,374		Raymond James Financial, Inc		2,646
	291,309		Raytheon Co		54,352
	75,332		Realty Income Corp		4,308
	40,820	*	Red Hat, Inc		4,525
	14,772	*,e	Redfin Corp		371
	77,652		Regency Centers Corp		4,818
	17,854	*	Regeneron Pharmaceuticals, Inc		7,983
	241,116		Regions Financial Corp		3,672
	80,534		Reinsurance Group of America, Inc (Class A)		11,237
	62,733		Republic Services, Inc		4,144
	49,365		Resmed, Inc		3,799
	25,000		Retail Opportunities Investment Corp		475
	70,000	*	Retrophin, Inc		1,742
	235,000		Rexford Industrial Realty, Inc		6,726
	35,649		Robert Half International, Inc		1,795
	28,073		Rockwell Automation, Inc		5,003
	40,189		Rockwell Collins, Inc		5,253
	43,987		Rollins, Inc		2,030
	89,304		Roper Industries, Inc		21,737
	86,383		Ross Stores, Inc		5,578
	37,334		Royal Caribbean Cruises Ltd		4,426
	818,530	*	RSP Permian, Inc		28,313
	36,221		S&P Global, Inc		5,662
	91,064		Sabre Corp		1,648
	664,340	*	salesforce.com, Inc		62,063
	657,600		Samsonite International		2,828
	200,000	*	Sanmina Corp		7,430
	17,290	*	SBA Communications Corp		2,491
	51,971		SCANA Corp		2,520
	618,732		Schlumberger Ltd		43,163
	95,231		Scripps Networks Interactive (Class A)		8,179

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	70,712		Seagate Technology, Inc	$	2,346
	68,871		Sealed Air Corp		2,942
	17,093	*	Seattle Genetics, Inc		930
	32,022		SEI Investments Co		1,955
	110,798		Sempra Energy		12,645
	36,539	*	Sensata Technologies Holding BV		1,756
	146,100	*	ServiceMaster Global Holdings, Inc		6,827
	117,290	*	ServiceNow, Inc		13,785
	16,510		Sherwin-Williams Co		5,911
	16,403	*	Signature Bank		2,100
	29,203	e	Signet Jewelers Ltd		1,943
	86,129		Simon Property Group, Inc		13,868
	504,797	e	Sirius XM Holdings, Inc		2,786
	38,035		Skyworks Solutions, Inc		3,876
	42,102		SL Green Realty Corp		4,266
	16,497		Snap-On, Inc		2,458
	188,348		Southern Co		9,255
	286,102		Southwest Airlines Co		16,016
	11,951		Spectrum Brands, Inc		1,266
	128,400		Spirit Aerosystems Holdings, Inc (Class A)		9,979
	80,000		Spirit Realty Capital, Inc		686
	20,340	*	Splunk, Inc		1,351
	160,748	*	Sprint Corp		1,251
	55,795		SS&C Technologies Holdings, Inc		2,240
	180,475		Stanley Works		27,246
	459,877		Starbucks Corp		24,700
	24,000		Starwood Waypoint Homes		873
	131,869		State Street Corp		12,599
	36,443		Steel Dynamics, Inc		1,256
	34,940	*	Stericycle, Inc		2,502
	80,130		Stryker Corp		11,380
	125,000	*	Summit Materials, Inc		4,004
	14,000		Sun Communities, Inc		1,200
	45,000		Sunstone Hotel Investors, Inc		723
	1,058,515		SunTrust Banks, Inc		63,267
	7,862	*	SVB Financial Group		1,471
	1,069,588		Symantec Corp		35,093
	476,836		Synchrony Financial		14,806
	39,166	*	Synopsys, Inc		3,154
	107,691		Sysco Corp		5,810
	54,233		T Rowe Price Group, Inc		4,916
	14,000	*	Take-Two Interactive Software, Inc		1,431
	29,698		Targa Resources Investments, Inc		1,405
	116,470		Target Corp		6,873
	746	*	Taro Pharmaceutical Industries Ltd		84
	64,251		TD Ameritrade Holding Corp		3,135
	169,830		TE Connectivity Ltd		14,106
	15,785		Teleflex, Inc		3,820
	844,168		Terex Corp		38,004
	14,000		Terreno Realty Corp		507
	32,045	*	TESARO, Inc		4,137
	19,172	*	Tesla, Inc		6,540
	90,000		Tetra Tech, Inc		4,190

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	177,106		Texas Instruments, Inc	$	15,876
	284,209		Textron, Inc		15,313
	87,337		Thermo Fisher Scientific, Inc		16,524
	50,000		Thor Industries, Inc		6,296
	35,746		Tiffany & Co		3,281
	486,054		Time Warner, Inc		49,796
	558,845		TJX Companies, Inc		41,204
	290,335	*	T-Mobile US, Inc		17,902
	32,488		Toll Brothers, Inc		1,347
	36,142		Torchmark Corp		2,895
	42,745		Total System Services, Inc		2,800
	33,521		Tractor Supply Co		2,122
	12,947		TransDigm Group, Inc		3,310
	58,282		Travelers Cos, Inc		7,141
	50,805	*	Trimble Navigation Ltd		1,994
	34,232	*,e	TripAdvisor, Inc		1,387
	109,290		Tronox Ltd		2,306
	223,280		Twenty-First Century Fox, Inc		5,890
	121,442		Twenty-First Century Fox, Inc (Class B)		3,132
	87,876	*	Twitter, Inc		1,482
	77,206		Tyson Foods, Inc (Class A)		5,439
	83,113		UDR, Inc		3,161
	63,568		UGI Corp		2,979
	13,157	*	Ulta Beauty, Inc		2,974
	20,793	*,e	Under Armour, Inc		312
	36,667	*,e	Under Armour, Inc (Class A)		604
	748,608		Union Pacific Corp		86,816
	69,717	*	United Continental Holdings, Inc		4,244
	113,815		United Parcel Service, Inc (Class B)		13,668
	239,392	*	United Rentals, Inc		33,213
	137,392		United Technologies Corp		15,948
	50,814	*	United Therapeutics Corp		5,955
	497,918		UnitedHealth Group, Inc		97,517
	28,570		Universal Health Services, Inc (Class B)		3,170
	60,150		UnumProvident Corp		3,075
	305,282		US Bancorp		16,360
	67,512	*	US Foods Holding Corp		1,803
	105,927	*	USG Corp		3,459
	14,744		Vail Resorts, Inc		3,363
	105,950	*	Valeant Pharmaceuticals International, Inc		1,518
	139,833		Valero Energy Corp		10,757
	684,107		Valvoline, Inc		16,042
	50,000		Vanguard FTSE Developed Markets ETF		2,171
	47,274	*	Vantiv, Inc		3,331
	30,563	*	Varian Medical Systems, Inc		3,058
	31,333	*	Veeva Systems, Inc		1,767
	89,030		Ventas, Inc		5,799
	284,689		VEREIT, Inc		2,360
	30,807	*	VeriSign, Inc		3,278
	42,313	*	Verisk Analytics, Inc		3,520
	1,074,973		Verizon Communications, Inc		53,200
	107,239	*	Vertex Pharmaceuticals, Inc		16,305
	76,864		VF Corp		4,886

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	300,316		Viacom, Inc (Class B)	$	8,361
	673,880		Visa, Inc (Class A)		70,919
	75,000	*	Visteon Corp		9,283
	28,009	*,e	VMware, Inc (Class A)		3,058
	53,633		Vornado Realty Trust		4,123
	51,318		Voya Financial, Inc		2,047
	28,471		Vulcan Materials Co		3,405
	78,871		W.R. Berkley Corp		5,264
	18,182	e	W.W. Grainger, Inc		3,268
	12,533	*	WABCO Holdings, Inc		1,855
	19,256		Wabtec Corp		1,459
	367,080		Walgreens Boots Alliance, Inc		28,346
	590,127		Wal-Mart Stores, Inc		46,113
	445,528		Walt Disney Co		43,916
	89,117		Waste Management, Inc		6,975
	25,544	*	Waters Corp		4,586
	128,374	*,e	Weatherford International Ltd		588
	85,395		WEC Energy Group, Inc		5,361
	1,553,160		Wells Fargo & Co		85,657
	76,331		Welltower, Inc		5,365
	65,747		Westar Energy, Inc		3,261
	57,428		Western Digital Corp		4,962
	129,740		Western Union Co		2,491
	284,716		Westlake Chemical Corp		23,657
	123,310		WestRock Co		6,995
	132,041		Weyerhaeuser Co		4,493
	14,187		Whirlpool Corp		2,617
	1,245,798		Williams Cos, Inc		37,386
	18,064		Willis Towers Watson plc		2,786
	19,664	*	Workday, Inc		2,072
	723,199	*	WPX Energy, Inc		8,317
	520,502		WR Grace & Co		37,554
	72,539		Wyndham Worldwide Corp		7,646
	56,858		Wynn Resorts Ltd		8,467
	418,462		Xcel Energy, Inc		19,802
	143,542		Xerox Corp		4,779
	61,291		Xilinx, Inc		4,341
	55,995		Xylem, Inc		3,507
	239,713	*	Yum China Holdings, Inc		9,581
	389,407		Yum! Brands, Inc		28,664
	68,426	*	Zayo Group Holdings, Inc		2,355
	13,844	*,e	Zillow Group, Inc (Class C)		557
	46,244		Zimmer Holdings, Inc		5,415
	568,793		Zions Bancorporation		26,836
	379,914		Zoetis, Inc		24,223
			TOTAL UNITED STATES		11,760,951
URUGUAY - 0.2%
	3,732,029	*	Arcos Dorados Holdings, Inc		37,507
			TOTAL URUGUAY		37,507
ZAMBIA - 0.0%
	336,129		First Quantum Minerals Ltd		3,774
			TOTAL ZAMBIA	$	3,774
			TOTAL COMMON STOCKS		19,580,853
			(Cost $16,314,871)

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY						VALUE (000)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	681,005	m	BGP Holdings plc							17
			TOTAL AUSTRALIA							17
SINGAPORE - 0.0%
	24,949	m	CapitaLand Commercial Trust							5
			TOTAL SINGAPORE							5
			TOTAL RIGHTS / WARRANTS							22
			(Cost $0)
PRINCIPAL			ISSUER		RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 2.7%
GOVERNMENT AGENCY DEBT - 0.2%
$	48,500,000		Federal Home Loan Bank (FHLB)	0.600%-0.700			%	10/02/17		48,500
			TOTAL GOVERNMENT AGENCY DEBT							48,500
TREASURY DEBT - 1.4%
	42,075,000		United States Treasury Bill			0.920		10/05/17		42,073
	38,695,000		United States Treasury Bill	0.926-0.961				10/12/17		38,685
	73,565,000		United States Treasury Bill	0.957-0.971				10/26/17		73,519
	38,400,000		United States Treasury Bill			0.966		11/02/17		38,368
	60,380,000		United States Treasury Bill			0.961		11/09/17		60,319
	25,000,000		United States Treasury Bill			0.941		11/16/17		24,970
			TOTAL TREASURY DEBT							277,934
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.1%
CERTIFICATE OF DEPOSIT - 0.2%
	10,000,000		Bank of Montreal			1.000		10/02/17		10,000
	10,000,000		CIBC Bank and Trust Co			1.050		10/02/17		10,000
	10,000,000		National Australia Bank Ltd			1.050		10/02/17		10,000
			TOTAL CERTIFICATE OF DEPOSIT							30,000
REPURCHASE AGREEMENT - 0.8%
	25,000,000	p	Calyon			1.030		10/02/17		25,000
	8,000,000	q	Goldman Sachs			1.040		10/02/17		8,000
	25,000,000	r	JP Morgan			1.050		10/02/17		25,000
	20,000,000	s	Nomura			1.080		10/02/17		20,000
	35,000,000	t	Royal Bank of Scotland			1.030		10/05/17		35,000
	12,000,000	u	Royal Bank of Scotland			1.020		10/02/17		12,000
	40,000,000	v	Royal Bank of Scotland			1.050		10/06/17		40,000
			TOTAL REPURCHASE AGREEMENT							165,000
VARIABLE RATE SECURITIES - 0.1%
	10,355,243	i	SLM Student Loan Trust			1.354		01/25/19		10,335
			TOTAL VARIABLE RATE SECURITIES						$	10,335
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED							205,335

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COMPANY	VALUE (000)
TOTAL SHORT-TERM INVESTMENTS		531,769
(Cost $531,772)
TOTAL INVESTMENTS - 100.9%		20,112,644
(Cost $16,846,643)
OTHER ASSETS & LIABILITIES, NET - (0.9)%		(182,076	)
NET ASSETS - 100.0%	$	19,930,568

	Abbreviation(s):
	ADR	American Depositary Receipt
	ETF	Exchange Traded Fund
	REIT	Real Estate Investment Trust
^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
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 $199,927,000.
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 9/30/17, the aggregate value of these securities was $194,901,000 or 1.0% of net assets.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
m	Indicates a security that has been deemed illiquid.
p	Agreement with Calyon, 1.03% dated 9/29/17 to be repurchased at $25,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $25,500,000.
q	Agreement with Goldman Sachs, 1.04% dated 9/29/17 to be repurchased at $8,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $8,160,000.
r	Agreement with JP Morgan, 1.05% dated 9/29/17 to be repurchased at $25,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $25,505,000.
s	Agreement with Nomura, 1.08% dated 9/29/17 to be repurchased at $20,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $20,400,000.
t	Agreement with Royal Bank of Scotland, 1.03% dated 9/28/17 to be repurchased at $35,000,000 on 10/5/17, collateralized by U.S. Government Agency Securities valued at $35,703,000.
u	Agreement with Royal Bank of Scotland, 1.02% dated 9/29/17 to be repurchased at $12,000,000 on 10/2/17, collateralized by U.S. Government Agency Securities valued at $12,242,000.
v	Agreement with Royal Bank of Scotland, 1.05% dated 9/29/17 to be repurchased at $40,000,000 on 10/6/17, collateralized by U.S. Government Agency Securities valued at $40,803,000.
Cost amounts are in thousands.

Futures contracts outstanding as of September 30, 2017 were as follows (dollar amounts are in thousands) (See Note 3):

Description	Number of long (short) contracts	Expiration date	Notional amount	Value	Unrealized appreciation (depreciation)
Mini MSCI EAFE Index	398	12/15/17	$38,883	$39,370	$487
S&P 500 E Mini Index	1,721	12/15/17	212,198	216,510	4,312
Total	2,119		$251,081	$255,880	$4,799

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

September 30, 2017

	VALUE			% OF
SECTOR	(000)			ASSETS
FINANCIALS	$	3,738,959			18.7	%
INFORMATION TECHNOLOGY		3,447,964			17.3
CONSUMER DISCRETIONARY		2,571,549			12.9
INDUSTRIALS		2,312,731			11.6
HEALTH CARE		2,279,922			11.4
CONSUMER STAPLES		1,467,122			7.4
ENERGY		1,272,883			6.4
MATERIALS		1,241,091			6.2
REAL ESTATE		432,987			2.2
UTILITIES		423,266			2.1
TELECOMMUNICATION SERVICES		392,401			2.0
SHORT-TERM INVESTMENTS		531,769			2.7
OTHER ASSETS & LIABILITES, NET		(182,076	)		(0.9	)
NET ASSETS	$	19,930,568			100.0	%

223

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2017

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.2%
AUTOMOBILES & COMPONENTS - 1.2%
	3,244		BorgWarner, Inc	$	166
	1,042,202		Delphi Automotive plc		102,553
	24,604		Gentex Corp		487
	446,000		Goodyear Tire & Rubber Co		14,830
	16,777		Harley-Davidson, Inc		809
	295,754		Lear Corp		51,189
	236,807	*	Tesla, Inc		80,775
	123,303		Thor Industries, Inc		15,525
	226,382	*	Visteon Corp		28,019
			TOTAL AUTOMOBILES & COMPONENTS		294,353
BANKS - 0.9%
	5,080,842		Bank of America Corp		128,749
	6,636		Bank of the Ozarks, Inc		319
	588,200		Citizens Financial Group, Inc		22,275
	1,340		East West Bancorp, Inc		80
	16,775		First Republic Bank		1,752
	2,416		Pinnacle Financial Partners, Inc		162
	4,388	*	Signature Bank		562
	5,217	*	SVB Financial Group		976
	902,700		Wells Fargo & Co		49,784
	137,040	*	Western Alliance Bancorp		7,274
			TOTAL BANKS		211,933
CAPITAL GOODS - 7.6%
	627,946		3M Co		131,806
	18,611		A.O. Smith Corp		1,106
	3,916		Acuity Brands, Inc		671
	889		Air Lease Corp		38
	13,053		Allegion plc		1,129
	656,542		Allison Transmission Holdings, Inc		24,640
	155,500		Ametek, Inc		10,269
	5,486	*	Armstrong World Industries, Inc		281
	1,156,403		Boeing Co		293,969
	114,064		BWX Technologies, Inc		6,390
	397,159		Caterpillar, Inc		49,530
	649,228		CNH Industrial NV (NYSE)		7,797
	64,435		Cummins, Inc		10,827
	59,080		Deere & Co		7,420
	15,876		Donaldson Co, Inc		729
	2,531		Dover Corp		231
	245,499		Emerson Electric Co		15,427
	15,969		Equifax, Inc		1,693
	38,611		Fastenal Co		1,760

224

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	786,212		Fortive Corp	$	55,656
	380,588		Fortune Brands Home & Security, Inc		25,587
	3,471	*	Gardner Denver Holdings, Inc		96
	488,332		General Dynamics Corp		100,391
	202,246		General Electric Co		4,890
	7,309		Graco, Inc		904
	27,026	*	HD Supply Holdings, Inc		975
	3,030		HEICO Corp		272
	6,417		HEICO Corp (Class A)		489
	8,077		Hexcel Corp		464
	1,318,868		Honeywell International, Inc		186,936
	67,419		Hubbell, Inc		7,822
	128,282		Huntington Ingalls		29,048
	9,501		IDEX Corp		1,154
	40,714		Illinois Tool Works, Inc		6,024
	522,853		Ingersoll-Rand plc		46,623
	4,783		Lennox International, Inc		856
	7,619		Lincoln Electric Holdings, Inc		699
	198,361		Lockheed Martin Corp		61,549
	825,582		Masco Corp		32,206
	7,636	*	Middleby Corp		979
	1,854		MSC Industrial Direct Co (Class A)		140
	7,733		Nordson Corp		916
	390,852		Northrop Grumman Corp		112,456
	351,100		Owens Corning, Inc		27,158
	848,449		Parker-Hannifin Corp		148,495
	397,686	*	Quanta Services, Inc		14,862
	401,259		Raytheon Co		74,867
	341,266		Rockwell Automation, Inc		60,817
	34,865		Rockwell Collins, Inc		4,557
	545,167		Roper Industries, Inc		132,694
	11,501	*	Sensata Technologies Holding BV		553
	1,164		Snap-On, Inc		173
	472,200		Spirit Aerosystems Holdings, Inc (Class A)		36,699
	1,946		Stanley Works		294
	670,200		Textron, Inc		36,110
	14,106		Toro Co		875
	70,485		TransDigm Group, Inc		18,019
	311,130	*	United Rentals, Inc		43,166
	13,498	*	Univar, Inc		391
	7,063		W.W. Grainger, Inc		1,270
	6,737	*	WABCO Holdings, Inc		997
	3,330	e	Wabtec Corp		252
	4,225		Watsco, Inc		681
	16,361	*	Welbilt, Inc		377
	12,025		Xylem, Inc		753
			TOTAL CAPITAL GOODS		1,846,905
COMMERCIAL & PROFESSIONAL SERVICES - 0.3%
	11,901		Cintas Corp		1,717
	4,512	*	Clean Harbors, Inc		256
	403,884	*	Copart, Inc		13,881
	1,680		Dun & Bradstreet Corp		196
	29,306	*	IHS Markit Ltd		1,292

225

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	18,160		KAR Auction Services, Inc	$	867
	232,000		Manpower, Inc		27,334
	275,800		Nielsen NV		11,432
	16,037		Robert Half International, Inc		807
	13,225		Rollins, Inc		610
	19,415	*	TransUnion		918
	20,989	*	Verisk Analytics, Inc		1,746
	152,522		Waste Management, Inc		11,938
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		72,994
CONSUMER DURABLES & APPAREL - 1.8%
	8,653		Brunswick Corp		484
	6,630		Carter’s, Inc		655
	129,584		Coach, Inc		5,220
	497,489		DR Horton, Inc		19,865
	48,455	e	Hanesbrands, Inc		1,194
	135,156		Hasbro, Inc		13,201
	14,890		Leggett & Platt, Inc		711
	741,563	*	Lululemon Athletica, Inc		46,162
	6,134		Mattel, Inc		95
	307,386	*	Michael Kors Holdings Ltd		14,708
	158,396	*	Mohawk Industries, Inc		39,205
	1,811,451		Nike, Inc (Class B)		93,924
	22,533	*	NVR, Inc		64,332
	7,661	e	Polaris Industries, Inc		801
	4,918		Pool Corp		532
	1,220,735		Pulte Homes, Inc		33,363
	6,279	*	Skechers U.S.A., Inc (Class A)		157
	940,800		Sony Corp		35,100
	680,721	*,e	Tempur Sealy International, Inc		43,920
	9,212		Toll Brothers, Inc		382
	6,779		Tupperware Corp		419
	17,492	*,e	Under Armour, Inc		263
	17,254	*	Under Armour, Inc (Class A)		284
	32,252		VF Corp		2,050
	61,784		Whirlpool Corp		11,395
			TOTAL CONSUMER DURABLES & APPAREL		428,422
CONSUMER SERVICES - 3.2%
	1,329,511		ARAMARK Holdings Corp		53,991
	6,955	*	Bright Horizons Family Solutions		600
	462,600		Brinker International, Inc		14,738
	334,500		Carnival Corp		21,599
	141,524	*	Chipotle Mexican Grill, Inc (Class A)		43,565
	4,093		Choice Hotels International, Inc		262
	17,205		Darden Restaurants, Inc		1,355
	6,270		Domino’s Pizza, Inc		1,245
	11,503		Dunkin Brands Group, Inc		611
	11,036		Extended Stay America, Inc		221
	4,878		H&R Block, Inc		129
	280,715	*	Hilton Grand Vacations, Inc		10,844
	23,414		Hilton Worldwide Holdings, Inc		1,626
	1,310,000		ILG, Inc		35,016

226

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	405,845		Las Vegas Sands Corp	$	26,039
	1,278,781		Marriott International, Inc (Class A)		140,998
	418,699		McDonald’s Corp		65,602
	4,664,237	g	Merlin Entertainments plc		27,836
	975,135		MGM Resorts International		31,780
	203,355		Service Corp International		7,016
	17,508	*	ServiceMaster Global Holdings, Inc		818
	9,766		Six Flags Entertainment Corp		595
	3,577,393		Starbucks Corp		192,142
	5,166		Vail Resorts, Inc		1,179
	23,946		Wendy’s		372
	263,532		Wyndham Worldwide Corp		27,779
	109,484		Wynn Resorts Ltd		16,304
	507,473	*	Yum China Holdings, Inc		20,284
	406,008		Yum! Brands, Inc		29,886
			TOTAL CONSUMER SERVICES		774,432
DIVERSIFIED FINANCIALS - 2.3%
	444,608		Ameriprise Financial, Inc		66,029
	3,955		BGC Partners, Inc (Class A)		57
	90,957		Capital One Financial Corp		7,701
	14,609		CBOE Holdings, Inc		1,572
	215,598		Charles Schwab Corp		9,430
	78,710	*	Credit Acceptance Corp		22,052
	337,700		Discover Financial Services		21,775
	410,900	*	E*TRADE Financial Corp		17,919
	14,037		Eaton Vance Corp		693
	5,078		Factset Research Systems, Inc		915
	1,579		Federated Investors, Inc (Class B)		47
	588,183		IntercontinentalExchange Group, Inc		40,408
	8,944		Invesco Ltd		313
	1,059,500		iShares Russell 1000 Growth Index Fund		132,501
	13,396		Lazard Ltd (Class A)		606
	1,428		Legg Mason, Inc		56
	9,029		Leucadia National Corp		228
	231,611		LPL Financial Holdings, Inc		11,944
	4,958		MarketAxess Holdings, Inc		915
	22,200		Moody’s Corp		3,091
	1,988		Morningstar, Inc		169
	74,857		MSCI, Inc (Class A)		8,751
	5,112		Raymond James Financial, Inc		431
	648,785		S&P Global, Inc		101,412
	164,417		SEI Investments Co		10,039
	156,643		State Street Corp		14,966
	2,315,500		Synchrony Financial		71,896
	4,863		T Rowe Price Group, Inc		441
	30,213		TD Ameritrade Holding Corp		1,474
	1,633		Voya Financial, Inc		65
			TOTAL DIVERSIFIED FINANCIALS		547,896
ENERGY - 1.0%
	14,413	*	Antero Resources Corp		287
	1,541		Apache Corp		70
	355,620		Cabot Oil & Gas Corp		9,513

227

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	17,878	*	Cheniere Energy, Inc	$	805
	9,353	*,e	Chesapeake Energy Corp		40
	12,063		Cimarex Energy Co		1,371
	809,631	*	Concho Resources, Inc		106,644
	3,913	*	Continental Resources, Inc		151
	214,400		Devon Energy Corp		7,871
	2,712	*	Diamondback Energy, Inc		266
	680,247		EOG Resources, Inc		65,807
	2,357	*	Gulfport Energy Corp		34
	78,222		Halliburton Co		3,600
	18,998	*	Laredo Petroleum Holdings, Inc		246
	404,046	*	Newfield Exploration Co		11,988
	50,448		Oneok, Inc		2,795
	1,193,395	*	Parsley Energy, Inc		31,434
	13,050	*	Rice Energy, Inc		378
	4,906	e	RPC, Inc		122
	7,971	*	RSP Permian, Inc		276
	16,452		Williams Cos, Inc		494
			TOTAL ENERGY		244,192
FOOD & STAPLES RETAILING - 0.4%
	882,669		Kroger Co		17,706
	53,590	*	Rite Aid Corp		105
	17,787	*	Sprouts Farmers Market, Inc		334
	800,307		Sysco Corp		43,176
	469,810		Walgreens Boots Alliance, Inc		36,279
			TOTAL FOOD & STAPLES RETAILING		97,600
FOOD, BEVERAGE & TOBACCO - 3.6%
	625,987		Altria Group, Inc		39,700
	800,000		Associated British Foods plc		34,249
	11,434	*	Blue Buffalo Pet Products, Inc		324
	250,000		British American Tobacco plc (ADR)		15,613
	6,564		Brown-Forman Corp		366
	23,012		Brown-Forman Corp (Class B)		1,250
	274,190		Campbell Soup Co		12,838
	961,543		Coca-Cola Co		43,279
	21,620		Constellation Brands, Inc (Class A)		4,312
	1,635,396		Costco Wholesale Corp		268,679
	3,200,000		Davide Campari-Milano S.p.A		23,245
	317,600		Dr Pepper Snapple Group, Inc		28,098
	70,091		General Mills, Inc		3,628
	52,680		Hershey Co		5,751
	306,600		Ingredion, Inc		36,988
	294,969		Kellogg Co		18,397
	375,000		Kraft Heinz Co		29,081
	253,402		Lamb Weston Holdings, Inc		11,882
	15,710		McCormick & Co, Inc		1,612
	2,864,361	*	Monster Beverage Corp		158,256
	561,956		PepsiCo, Inc		62,619
	119,994		Philip Morris International, Inc		13,321
	52,894	*	Pilgrim’s Pride Corp		1,503
	431,763		Pinnacle Foods, Inc		24,684

228

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	74,004	*	TreeHouse Foods, Inc	$	5,012
	384,200		Tyson Foods, Inc (Class A)		27,067
			TOTAL FOOD, BEVERAGE & TOBACCO		871,754
HEALTH CARE EQUIPMENT & SERVICES - 6.0%
	55,295	*	Abiomed, Inc		9,323
	273,663		Aetna Inc		43,515
	78,215	*	Align Technology, Inc		14,569
	218,319		AmerisourceBergen Corp		18,066
	190,500		Anthem, Inc		36,172
	5,032	*	athenahealth, Inc		626
	70,777		Bard (C.R.), Inc		22,684
	613,959		Baxter International, Inc		38,526
	29,878		Becton Dickinson & Co		5,855
	182,867	*	Boston Scientific Corp		5,334
	458,582	*	Centene Corp		44,377
	1,202,047	*	Cerner Corp		85,730
	738,637		Cigna Corp		138,081
	4,929		Cooper Cos, Inc		1,169
	11,391	*	DexCom, Inc		557
	173,510	*	Edwards Lifesciences Corp		18,966
	204,500	*	Envision Healthcare Corp		9,192
	686,312	*	Express Scripts Holding Co		43,457
	333,116	*	HCA Holdings, Inc		26,513
	362,800		Healthsouth Corp		16,816
	21,038	*	Henry Schein, Inc		1,725
	7,670		Hill-Rom Holdings, Inc		568
	699,950	*	Hologic, Inc		25,681
	264,956		Humana, Inc		64,551
	87,739	*	Idexx Laboratories, Inc		13,643
	229,574	*	Intuitive Surgical, Inc		240,107
	144,400	*	Laboratory Corp of America Holdings		21,800
	1,014	*	LifePoint Hospitals, Inc		59
	167,247		McKesson Corp		25,691
	12,988		Medtronic plc		1,010
	151,515	*	NuVasive, Inc		8,403
	1,220		Patterson Cos, Inc		47
	770,439	*	Premier, Inc		25,093
	19,303		Resmed, Inc		1,486
	45,440		Stryker Corp		6,453
	1,125		Teleflex, Inc		272
	1,882,373		UnitedHealth Group, Inc		368,662
	219,300		Universal Health Services, Inc (Class B)		24,329
	12,100	*	Varian Medical Systems, Inc		1,211
	202,508	*	Veeva Systems, Inc		11,423
	121,548	*	WellCare Health Plans, Inc		20,875
	9,726		West Pharmaceutical Services, Inc		936
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,443,553
HOUSEHOLD & PERSONAL PRODUCTS - 1.1%
	33,275		Church & Dwight Co, Inc		1,612
	15,173		Clorox Co		2,001
	17,652		Colgate-Palmolive Co		1,286
	238,430		Energizer Holdings, Inc		10,980

229

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,750,657		Estee Lauder Cos (Class A)	$	188,791
	87,034	*,e	Herbalife Ltd		5,904
	230,134		Kimberly-Clark Corp		27,082
	1,136		Nu Skin Enterprises, Inc (Class A)		70
	16,855		Procter & Gamble Co		1,533
	185,549		Spectrum Brands, Inc		19,653
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		258,912
INSURANCE - 0.8%
	221,113		Allstate Corp		20,323
	364,569		American International Group, Inc		22,381
	34,794		Aon plc		5,083
	2,376	*	Arch Capital Group Ltd		234
	16,592		Arthur J. Gallagher & Co		1,021
	64,570		Aspen Insurance Holdings Ltd		2,609
	61,632		Assurant, Inc		5,887
	215,919		Chubb Ltd		30,779
	2,273		Erie Indemnity Co (Class A)		274
	321,525		Marsh & McLennan Cos, Inc		26,947
	1,351,321		Progressive Corp		65,431
	14		RenaissanceRe Holdings Ltd		2
	122,463		XL Group Ltd		4,831
			TOTAL INSURANCE		185,802
MATERIALS - 3.5%
	894,098		Albemarle Corp		121,875
	2,206		Aptargroup, Inc		190
	1,509		Ardagh Group S.A.		32
	160,857		Avery Dennison Corp		15,819
	30,259	*	Axalta Coating Systems Ltd		875
	25,570		Ball Corp		1,056
	1,792,387	*	Berry Plastics Group, Inc		101,539
	11,470		Celanese Corp (Series A)		1,196
	729,547		Chemours Co		36,922
	394,423	*	Crown Holdings, Inc		23,555
	703,949		DowDuPont, Inc		48,734
	93,793		Eagle Materials, Inc		10,008
	34,301		Ecolab, Inc		4,411
	17,920		FMC Corp		1,600
	738,452	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		10,368
	28,544		Graphic Packaging Holding Co		398
	1,210,055		Huntsman Corp		33,180
	10,566		International Flavors & Fragrances, Inc		1,510
	375,365		International Paper Co		21,328
	396,704		LyondellBasell Industries AF S.C.A		39,294
	7,585		Martin Marietta Materials, Inc		1,564
	781,698		Monsanto Co		93,663
	908		NewMarket Corp		387
	1,261,300		Olin Corp		43,199
	187,910	*	Owens-Illinois, Inc		4,728
	12,445		Packaging Corp of America		1,427
	10,639	*	Platform Specialty Products Corp		119
	471,850		PPG Industries, Inc		51,271

230

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	33,510		Praxair, Inc	$	4,683
	2,964		Royal Gold, Inc		255
	17,114		RPM International, Inc		879
	5,554		Scotts Miracle-Gro Co (Class A)		541
	13,824		Sealed Air Corp		591
	341,418		Sherwin-Williams Co		122,241
	9,259		Silgan Holdings, Inc		272
	9,655		Southern Copper Corp (NY)		384
	2,831		Steel Dynamics, Inc		98
	144,802		Vulcan Materials Co		17,318
	2,695		Westlake Chemical Corp		224
	299,684		WR Grace & Co		21,622
			TOTAL MATERIALS		839,356
MEDIA - 2.9%
	363,110	*	AMC Networks, Inc		21,231
	632		Cable One, Inc		456
	1,138,897		CBS Corp (Class B)		66,056
	36,573	*	Charter Communications, Inc		13,291
	8,013,001		Comcast Corp (Class A)		308,340
	518,300	*,e	Discovery Communications, Inc (Class A)		11,035
	372,326	*	DISH Network Corp (Class A)		20,191
	843,249		Interpublic Group of Cos, Inc		17,531
	5,157	*	Lions Gate Entertainment Corp (Class A)		172
	7,458	*	Lions Gate Entertainment Corp (Class B)		237
	310,427	*	Live Nation, Inc		13,519
	223	*	Madison Square Garden Co		48
	30,910		Omnicom Group, Inc		2,290
	756	e	Regal Entertainment Group (Class A)		12
	87,607		Scripps Networks Interactive (Class A)		7,525
	184,540	e	Sirius XM Holdings, Inc		1,019
	1,132,800		Time Warner, Inc		116,056
	8,181		Twenty-First Century Fox, Inc		216
	3,462		Twenty-First Century Fox, Inc (Class B)		89
	757,400		Viacom, Inc (Class B)		21,086
	766,764		Walt Disney Co		75,580
			TOTAL MEDIA		695,980
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.5%
	1,667,471		AbbVie, Inc		148,172
	12,656	*,e	Acadia Pharmaceuticals, Inc		477
	9,871		Agilent Technologies, Inc		634
	4,831	*	Agios Pharmaceuticals, Inc		322
	11,138	*	Akorn, Inc		370
	962,700	*	Alexion Pharmaceuticals, Inc		135,057
	20,990	*	Alkermes plc		1,067
	528,226		Allergan plc		108,260
	9,252	*	Alnylam Pharmaceuticals, Inc		1,087
	414,831		Amgen, Inc		77,345
	230,000		Bayer AG.		31,419
	350,873	*	Biogen Idec, Inc		109,865
	977,695	*	BioMarin Pharmaceutical, Inc		90,994
	4,521		Bio-Techne Corp		547
	14,268	*	Bioverativ, Inc		814

231

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	832,361		Bristol-Myers Squibb Co	$	53,055
	5,806		Bruker BioSciences Corp		173
	2,040,368	*	Celgene Corp		297,526
	156,015	*	Charles River Laboratories International, Inc		16,853
	639,299		Eli Lilly & Co		54,686
	39,230	*	Exelixis, Inc		951
	678,168		Gilead Sciences, Inc		54,945
	695,567	*	Illumina, Inc		138,557
	38,294	*	Incyte Corp		4,470
	2,104	*,e	Intercept Pharmaceuticals, Inc		122
	3,081	*,e	Intrexon Corp		59
	16,304	*	Ionis Pharmaceuticals, Inc		827
	268,612		Ipsen		35,740
	470,075	*	Jazz Pharmaceuticals plc		68,748
	483,680		Johnson & Johnson		62,883
	279,931		Lonza Group AG.		73,556
	19,594		Merck & Co, Inc		1,255
	3,348	*	Mettler-Toledo International, Inc		2,096
	530,000	*	Mylan NV		16,626
	70,219	*	Neurocrine Biosciences, Inc		4,303
	421,708		Novo Nordisk AS		20,275
	5,606	*,e	Opko Health, Inc		38
	3,183		PerkinElmer, Inc		219
	371,100		Pfizer, Inc		13,248
	9,611		QIAGEN NV		303
	343,847	*	Quintiles Transnational Holdings, Inc		32,689
	146,124	*	Regeneron Pharmaceuticals, Inc		65,335
	13,452	*	Seattle Genetics, Inc		732
	5,132	*	TESARO, Inc		663
	120,448		Thermo Fisher Scientific, Inc		22,789
	796,637	*	Vertex Pharmaceuticals, Inc		121,121
	31,553	*	Waters Corp		5,664
	2,641,988		Zoetis, Inc		168,453
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,045,390
REAL ESTATE - 0.8%
	280,315		American Tower Corp		38,313
	3,550		Boston Properties, Inc		436
	810,808	*	CBRE Group, Inc		30,713
	4,606		Coresite Realty		515
	53,706		Crown Castle International Corp		5,370
	16,013		CubeSmart		416
	10,652		CyrusOne, Inc		628
	44,963		Digital Realty Trust, Inc		5,320
	16,260		Douglas Emmett, Inc		641
	10,380		Equinix, Inc		4,633
	143,035		Equity Lifestyle Properties, Inc		12,169
	76,148		Extra Space Storage, Inc		6,086
	4,275		Federal Realty Investment Trust		531
	249,560		Gaming and Leisure Properties, Inc		9,206
	284,154		Hudson Pacific Properties		9,528
	30,619		Iron Mountain, Inc		1,191
	10,398		Lamar Advertising Co		713

232

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	870,000		MGM Growth Properties LLC	$	26,283
	55,371		Outfront Media, Inc		1,394
	19,766		Public Storage, Inc		4,230
	70,463	*,e	Redfin Corp		1,768
	97,791	*	SBA Communications Corp		14,087
	37,639		Simon Property Group, Inc		6,060
	919		Tanger Factory Outlet Centers, Inc		22
	3,452		Taubman Centers, Inc		172
			TOTAL REAL ESTATE		180,425
RETAILING - 9.4%
	2,175		Advance Auto Parts, Inc		216
	886,766	*	Amazon.com, Inc		852,493
	500,000	*	ASOS plc		39,938
	3,196	*	AutoZone, Inc		1,902
	201,300		Best Buy Co, Inc		11,466
	97,719	*	Burlington Stores, Inc		9,328
	954,399	*	Carmax, Inc		72,353
	1,320,637	*	Ctrip.com International Ltd (ADR)		69,650
	8,077		Dick’s Sporting Goods, Inc		218
	333,295		Dollar General Corp		27,014
	257,135	*	Dollar Tree, Inc		22,325
	829,497		Expedia, Inc		119,398
	1,493	*	Floor & Decor Holdings, Inc		58
	1,400		Foot Locker, Inc		49
	2,425,829		Gap, Inc		71,635
	7,479		Genuine Parts Co		715
	4,001,000	*	Groupon, Inc		20,805
	2,445,484		Home Depot, Inc		399,983
	530,000		Industria De Diseno Textil S.A.		19,981
	116,152		Kering		46,271
	4,426		L Brands, Inc		184
	1,540	*	Liberty Expedia Holdings, Inc		82
	2,587,900	*	Liberty Interactive Corp		60,997
	6,696	*	LKQ Corp		241
	1,590,284		Lowe’s Companies, Inc		127,127
	10,341	*	Michaels Cos, Inc		222
	689,285	*	NetFlix, Inc		125,002
	15,183		Nordstrom, Inc		716
	11,543	*	O’Reilly Automotive, Inc		2,486
	22,767	*	Priceline.com, Inc		41,682
	316,097		Ross Stores, Inc		20,410
	4,314	*	Sally Beauty Holdings, Inc		85
	400,000		Tiffany & Co		36,712
	864,685		TJX Companies, Inc		63,753
	17,493		Tractor Supply Co		1,107
	7,948	*	TripAdvisor, Inc		322
	7,886	*	Ulta Beauty, Inc		1,783
	4,937	*	Wayfair, Inc		333
	2,550		Williams-Sonoma, Inc		127
			TOTAL RETAILING		2,269,169
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.4%
	1,627,583	*	Advanced Micro Devices, Inc		20,752

233

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	48,881		Analog Devices, Inc	$	4,212
	5,246,947		Applied Materials, Inc		273,313
	1,483,218		Broadcom Ltd		359,740
	9,078	*	Cavium, Inc		599
	595,436		Cypress Semiconductor Corp		8,943
	399,900		Intel Corp		15,228
	308,364		Kla-Tencor Corp		32,687
	546,673		Lam Research Corp		101,156
	391,857		Maxim Integrated Products, Inc		18,696
	220,918		Microchip Technology, Inc		19,834
	105,730	*	Micron Technology, Inc		4,158
	212,325	*	Microsemi Corp		10,931
	647,988		NVIDIA Corp		115,841
	25,405	*	NXP Semiconductors NV		2,873
	55,835	*	ON Semiconductor Corp		1,031
	8,177	*	Qorvo, Inc		578
	248,400		Qualcomm, Inc		12,877
	8,700		Samsung Electronics Co Ltd		19,577
	95,097		Skyworks Solutions, Inc		9,690
	26,356		Teradyne, Inc		983
	408,224		Texas Instruments, Inc		36,593
	1,512		Versum Materials, Inc		59
	31,207		Xilinx, Inc		2,210
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		1,072,561
SOFTWARE & SERVICES - 31.2%
	489,098		Accenture plc		66,062
	1,635,007		Activision Blizzard, Inc		105,474
	2,111,060	*	Adobe Systems, Inc		314,928
	422,086	*	Alibaba Group Holding Ltd (ADR)		72,898
	40,125		Alliance Data Systems Corp		8,890
	422,180	*	Alphabet, Inc (Class A)		411,085
	897,087	*	Alphabet, Inc (Class C)		860,405
	356,691		Amdocs Ltd		22,942
	11,209	*	Ansys, Inc		1,376
	9,406	*	Atlassian Corp plc		331
	22,677	*	Autodesk, Inc		2,546
	68,736		Automatic Data Processing, Inc		7,514
	160,000	*	Baidu, Inc (ADR)		39,630
	4,404	*	Black Knight Financial Services, Inc		190
	267,444		Booz Allen Hamilton Holding Co		10,000
	135,508		Broadridge Financial Solutions, Inc		10,952
	37,227	*	Cadence Design Systems, Inc		1,469
	160,336		CDK Global, Inc		10,116
	239,800	*	Check Point Software Technologies		27,342
	500,000	*	Cimpress NV		48,830
	242,168	*	Citrix Systems, Inc		18,603
	157,247		Cognizant Technology Solutions Corp (Class A)		11,407
	4,182	*	CoStar Group, Inc		1,122
	440,636		CSRA, Inc		14,219
	204,916	*	Dell Technologies, Inc-VMware Inc		15,822
	959		DST Systems, Inc		53
	1,028,311		DXC Technology Co		88,311

234

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	3,766,698	*	eBay, Inc	$	144,867
	289,011	*	Electronic Arts, Inc		34,121
	66,473	*	Euronet Worldwide, Inc		6,301
	5,204,590	*	Facebook, Inc		889,308
	227,808		Fidelity National Information Services, Inc		21,275
	532,282	*	First American Corp		24,602
	384,242	*	First Data Corp		6,932
	28,318	*	Fiserv, Inc		3,652
	292,226	*	FleetCor Technologies, Inc		45,228
	20,721	*	Fortinet, Inc		743
	570,579	*	Gartner, Inc		70,986
	440,775		Genpact Ltd		12,672
	254,567		Global Payments, Inc		24,191
	228,258	*	GoDaddy, Inc		9,931
	1,120,000	*	GrubHub, Inc		58,979
	4,457	*	Guidewire Software, Inc		347
	1,554,608	*	IAC/InterActiveCorp		182,791
	643,303		International Business Machines Corp		93,330
	3,032,890		Intuit, Inc		431,095
	9,968		Jack Henry & Associates, Inc		1,025
	233,700		Leidos Holdings, Inc		13,840
	65,552		LogMeIn, Inc		7,214
	9,206	*	Manhattan Associates, Inc		383
	2,723,272		MasterCard, Inc (Class A)		384,526
	5,598	*,e	Match Group, Inc		130
	15,225,670		Microsoft Corp		1,134,160
	94,500		Netease.com (ADR)		24,930
	2,219,630		Oracle Corp		107,319
	26,341	*	Pandora Media, Inc		203
	43,000		Paychex, Inc		2,578
	4,475,222	*	PayPal Holdings, Inc		286,549
	16,291	*	PTC, Inc		917
	611,254	*	Red Hat, Inc		67,764
	21,432		Sabre Corp		388
	3,096,545	*	salesforce.com, Inc		289,279
	865,243	g	Scout24 AG.		35,404
	222,323	*	ServiceNow, Inc		26,130
	17,996	*	Splunk, Inc		1,195
	419,370	*	Square, Inc		12,082
	224,010		SS&C Technologies Holdings, Inc		8,994
	81,631		Symantec Corp		2,678
	71,133	*	Synopsys, Inc		5,728
	55,090	*	Tableau Software, Inc		4,126
	138,795	*	Take-Two Interactive Software, Inc		14,189
	4,581,903		Tencent Holdings Ltd		200,324
	420,200	*	Teradata Corp		14,199
	307,832		Total System Services, Inc		20,163
	6,460	*	Twitter, Inc		109
	4,465	*	Tyler Technologies, Inc		778
	4,036	*	Ultimate Software Group, Inc		765
	21,234	*	Vantiv, Inc		1,496
	74,592	*	VeriSign, Inc		7,936
	5,310,709		Visa, Inc (Class A)		558,899
	292,998	*,e	VMware, Inc (Class A)		31,992

235

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	65,154		Western Union Co	$	1,251
	4,150	*	WEX, Inc		466
	102,247	*	Workday, Inc		10,776
	5,565	*	Zillow Group, Inc		223
	9,570	*	Zillow Group, Inc (Class C)		385
			TOTAL SOFTWARE & SERVICES		7,515,361
TECHNOLOGY HARDWARE & EQUIPMENT - 5.4%
	263,465		Amphenol Corp (Class A)		22,300
	7,390,149	d	Apple, Inc		1,138,970
	109,994	*	Arista Networks, Inc		20,856
	373,100	*	ARRIS International plc		10,630
	21,174		CDW Corp		1,397
	417,200	*	Ciena Corp		9,166
	11,467		Cognex Corp		1,265
	3,463	*	Coherent, Inc		814
	417,165	*	CommScope Holding Co, Inc		13,854
	8,049		Corning, Inc		241
	85,150	*	F5 Networks, Inc		10,266
	9,477		Flir Systems, Inc		369
	4,242		Harris Corp		559
	4,681	*	IPG Photonics Corp		866
	357,200	*	Lumentum Holdings, Inc		19,414
	102,944		Motorola, Inc		8,737
	10,980		National Instruments Corp		463
	234,183	*	NCR Corp		8,786
	30,425		NetApp, Inc		1,331
	101,544	*	Palo Alto Networks, Inc		14,632
	26,987	*	Trimble Navigation Ltd		1,059
	33,639		Universal Display Corp		4,334
	180,970		Western Digital Corp		15,636
	47,603	*	Zebra Technologies Corp (Class A)		5,169
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,311,114
TELECOMMUNICATION SERVICES - 0.7%
	680,100		AT&T, Inc		26,640
	326,900	e	CenturyLink, Inc		6,178
	1,692,210	*	T-Mobile US, Inc		104,342
	577,552		Verizon Communications, Inc		28,583
	24,388	*	Zayo Group Holdings, Inc		839
			TOTAL TELECOMMUNICATION SERVICES		166,582
TRANSPORTATION - 2.2%
	166,485		Alaska Air Group, Inc		12,698
	475,117		American Airlines Group, Inc		22,563
	18,714		CH Robinson Worldwide, Inc		1,424
	347		Copa Holdings S.A. (Class A)		43
	104,588		CSX Corp		5,675
	1,676,395		Delta Air Lines, Inc		80,836
	16,934		Expeditors International of Washington, Inc		1,014
	644,254		FedEx Corp		145,331
	11,952		J.B. Hunt Transport Services, Inc		1,328

236

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY					VALUE (000)
	5,711		Landstar System, Inc					$	569
	5,213		Old Dominion Freight Line						574
	610,867		Southwest Airlines Co						34,196
	600,000	*	Spirit Airlines, Inc						20,046
	1,406,461		Union Pacific Corp						163,107
	115,200	*	United Continental Holdings, Inc						7,013
	406,726		United Parcel Service, Inc (Class B)						48,844
	10,372	*	XPO Logistics, Inc						703
			TOTAL TRANSPORTATION						545,964
UTILITIES - 0.0%
	6,419		NRG Energy, Inc						164
			TOTAL UTILITIES						164
			TOTAL COMMON STOCKS						23,920,814
			(Cost $17,980,583)
PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 0.8%
GOVERNMENT AGENCY DEBT - 0.0%
$	600,000		Federal Home Loan Bank (FHLB)		0.700	%	10/02/17		600
			TOTAL GOVERNMENT AGENCY DEBT						600
TREASURY DEBT - 0.7%
	17,600,000		United States Treasury Bill		1.008		10/05/17		17,599
	64,305,000		United States Treasury Bill		0.926-0.942		10/12/17		64,289
	20,600,000		United States Treasury Bill		0.927-0.971		10/26/17		20,587
	63,700,000		United States Treasury Bill		0.983		11/30/17		63,597
			TOTAL TREASURY DEBT						166,072
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.1%
	24,555,730	c	State Street Navigator Securities Lending Government Money Market Portfolio						24,556
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						24,556
			TOTAL SHORT-TERM INVESTMENTS						191,228
			(Cost $191,223)
			TOTAL INVESTMENTS - 100.0%						24,112,042
			(Cost $18,171,806)
			OTHER ASSETS & LIABILITIES, NET - 0.0%						(4,493	)
			NET ASSETS - 100.0%					$	24,107,549

237

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

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 $23,910,000.
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 9/30/17, the aggregate value of these securities was $63,240,000 or 0.3% of net assets.
	Cost amounts are in thousands.

Futures contracts outstanding as of September 30, 2017 were as follows (dollar amounts are in thousands) (See Note 3):

Description	Number of long (short) contracts		Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
S&P 500 E Mini Index		650	12/15/17		$80,074		$81,773		$1,699

238

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2017

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 1.0%
	67,741		Adient plc	$	5,690
	60,325	*	American Axle & Manufacturing Holdings, Inc		1,061
	153,664		BorgWarner, Inc		7,872
	37,696	e	Cooper Tire & Rubber Co		1,410
	12,534	*	Cooper-Standard Holding, Inc		1,454
	105,026		Dana Holding Corp		2,937
	193,499		Delphi Automotive plc		19,040
	19,677	*	Dorman Products, Inc		1,409
	2,750,403		Ford Motor Co		32,922
	25,297	*	Fox Factory Holding Corp		1,090
	934,994		General Motors Co		37,755
	199,630		Gentex Corp		3,953
	26,543	*	Gentherm, Inc		986
	180,979		Goodyear Tire & Rubber Co		6,018
	126,967		Harley-Davidson, Inc		6,121
	18,367	*	Horizon Global Corp		324
	17,506		LCI Industries, Inc		2,028
	49,122		Lear Corp		8,502
	36,302	*	Modine Manufacturing Co		699
	13,147	*	Motorcar Parts of America, Inc		387
	5,808	*	Shiloh Industries, Inc		60
	24,709		Spartan Motors, Inc		273
	15,087		Standard Motor Products, Inc		728
	20,247	*	Stoneridge, Inc		401
	17,815		Superior Industries International, Inc		297
	38,429		Tenneco, Inc		2,331
	93,829	*	Tesla, Inc		32,005
	35,644		Thor Industries, Inc		4,488
	15,398		Tower International, Inc		419
	22,699	*	Visteon Corp		2,809
	14,882	*	VOXX International Corp (Class A)		127
	22,457		Winnebago Industries, Inc		1,005
			TOTAL AUTOMOBILES & COMPONENTS		186,601
BANKS - 6.8%
	12,408		1st Source Corp		630
	10,115		Access National Corp		290
	4,570		ACNB Corp		127
	7,958	*	Allegiance Bancshares, Inc		293
	5,882		American National Bankshares, Inc		242
	26,136		Ameris Bancorp		1,255
	7,069		Ames National Corp		211
	7,945		Arrow Financial Corp		273
	2,122	*	ASB Bancorp, Inc		96

239

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	110,942		Associated Banc-Corp	$	2,690
	66,701		Astoria Financial Corp		1,434
	14,762	*	Atlantic Capital Bancshares, Inc		268
	31,112	e	Banc of California, Inc		646
	11,574		Bancfirst Corp		657
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		632
	62,103		Bancorpsouth, Inc		1,990
	34,155		Bank Mutual Corp		347
	7,078,963		Bank of America Corp		179,381
	11,787	e	Bank of Commerce Holdings		136
	30,368		Bank of Hawaii Corp		2,531
	3,864		Bank of Marin Bancorp		265
	38,856		Bank of NT Butterfield & Son Ltd		1,424
	82,422		Bank of the Ozarks, Inc		3,960
	12,265		BankFinancial Corp		195
	74,384		BankUnited		2,646
	3,897		Bankwell Financial Group, Inc		144
	23,725		Banner Corp		1,454
	11,016		Bar Harbor Bankshares		345
	584,468		BB&T Corp		27,435
	7,059		BCB Bancorp, Inc		98
	15,407		Bear State Financial, Inc		158
	51,465		Beneficial Bancorp, Inc		854
	22,749		Berkshire Hills Bancorp, Inc		882
	17,706		Blue Hills Bancorp, Inc		340
	43,167	*,e	BofI Holding, Inc		1,229
	18,057		BOK Financial Corp		1,609
	59,217		Boston Private Financial Holdings, Inc		980
	13,328		Bridge Bancorp, Inc		452
	54,590		Brookline Bancorp, Inc		846
	12,987		Bryn Mawr Bank Corp		569
	6,346	*	BSB Bancorp, Inc		190
	5,576	*	Byline Bancorp, Inc		119
	2,353		C&F Financial Corp		129
	6,593	*	Cadence BanCorp		151
	11,436		Camden National Corp		499
	20,990		Capital Bank Financial Corp		862
	9,158		Capital City Bank Group, Inc		220
	92,364		Capitol Federal Financial		1,358
	5,956	*	Capstar Financial Holdings, Inc		117
	10,298		Carolina Financial Corp		369
	54,668		Cathay General Bancorp		2,198
	38,989		Centerstate Banks of Florida, Inc		1,045
	21,511		Central Pacific Financial Corp		692
	6,214		Central Valley Community Bancorp		139
	2,245		Century Bancorp, Inc		180
	9,348		Charter Financial Corp		173
	48,933		Chemical Financial Corp		2,557
	2,189		Chemung Financial Corp		103
	97,089		CIT Group, Inc		4,762
	1,949,116		Citigroup, Inc		141,779
	9,568		Citizens & Northern Corp		235
	365,180		Citizens Financial Group, Inc		13,829
	10,955		City Holding Co		788

240

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,262	e	Civista Bancshares, Inc	$	162
	16,962		Clifton Bancorp, Inc		284
	9,772		CNB Financial Corp		267
	26,184		CoBiz, Inc		514
	5,854		Codorus Valley Bancorp, Inc		180
	42,696		Columbia Banking System, Inc		1,798
	126,545		Comerica, Inc		9,650
	62,894		Commerce Bancshares, Inc		3,633
	4,712		Commerce Union Bancshares, Inc		109
	35,397		Community Bank System, Inc		1,956
	15,668	*	Community Bankers Trust Corp		144
	2,846		Community Financial Corp		101
	11,638		Community Trust Bancorp, Inc		541
	21,722		ConnectOne Bancorp, Inc		534
	3,700		County Bancorp, Inc		111
	12,656	*	CU Bancorp		491
	40,574		Cullen/Frost Bankers, Inc		3,851
	19,196	*	Customers Bancorp, Inc		626
	75,634		CVB Financial Corp		1,828
	23,810		Dime Community Bancshares		512
	2,089		DNB Financial Corp		74
	22,688	*	Eagle Bancorp, Inc		1,521
	102,610		East West Bancorp, Inc		6,134
	4,525	*	Entegra Financial Corp		113
	6,481		Enterprise Bancorp, Inc		235
	16,077		Enterprise Financial Services Corp		681
	7,477	*	Equity Bancshares, Inc		266
	6,121		ESSA Bancorp, Inc		96
	55,323	*	Essent Group Ltd		2,241
	3,168		Evans Bancorp, Inc		137
	6,654	e	Farmers & Merchants Bancorp, Inc		243
	5,336		Farmers Capital Bank Corp		224
	18,150		Farmers National Banc Corp		273
	4,563	*	FB Financial Corp		172
	25,303	*	FCB Financial Holdings, Inc		1,222
	6,481		Federal Agricultural Mortgage Corp (Class C)		471
	15,456		Fidelity Southern Corp		365
	541,258		Fifth Third Bancorp		15,144
	10,211		Financial Institutions, Inc		294
	17,372		First Bancorp (NC)		598
	114,850	*	First Bancorp (Puerto Rico)		588
	6,485		First Bancorp, Inc		197
	6,018		First Bancshares, Inc		181
	26,747		First Busey Corp		839
	6,176		First Business Financial Services, Inc		140
	5,135		First Citizens Bancshares, Inc (Class A)		1,920
	69,402		First Commonwealth Financial Corp		981
	12,139		First Community Bancshares, Inc		353
	10,568		First Connecticut Bancorp		283
	7,726		First Defiance Financial Corp		406
	44,691		First Financial Bancorp		1,169
	46,159	e	First Financial Bankshares, Inc		2,086
	8,330		First Financial Corp		396

241

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,257		First Financial Northwest, Inc	$	106
	19,660	*	First Foundation, Inc		352
	2,748	e	First Guaranty Bancshares, Inc		74
	38,811		First Hawaiian, Inc		1,176
	168,308		First Horizon National Corp		3,223
	4,089		First Internet Bancorp		132
	18,329		First Interstate Bancsystem, Inc		701
	29,933		First Merchants Corp		1,285
	7,120		First Mid-Illinois Bancshares, Inc		273
	73,424		First Midwest Bancorp, Inc		1,720
	7,602	*	First Northwest Bancorp		130
	15,462		First of Long Island Corp		471
	112,613		First Republic Bank		11,764
	15,789	*	Flagstar Bancorp, Inc		560
	20,105		Flushing Financial Corp		598
	3,521		FNB Bancorp		119
	228,101		FNB Corp		3,200
	8,854	*	Franklin Financial Network, Inc		316
	119,869		Fulton Financial Corp		2,248
	14,703		German American Bancorp, Inc		559
	55,696		Glacier Bancorp, Inc		2,103
	7,809		Great Southern Bancorp, Inc		435
	42,914		Great Western Bancorp, Inc		1,771
	14,667	*	Green Bancorp, Inc		347
	2,003	e	Greene County Bancorp, Inc		60
	16,942		Guaranty Bancorp		471
	1,224		Guaranty Bancshares, Inc		39
	59,807		Hancock Holding Co		2,898
	23,963		Hanmi Financial Corp		742
	9,284	*	HarborOne Bancorp, Inc		175
	17,800		Heartland Financial USA, Inc		879
	25,661		Heritage Commerce Corp		365
	22,188		Heritage Financial Corp		655
	54,190		Hilltop Holdings, Inc		1,409
	997		Hingham Institution for Savings		190
	4,264		Home Bancorp, Inc		178
	112,204		Home Bancshares, Inc		2,830
	15,022	*	HomeStreet, Inc		406
	13,541	*	HomeTrust Bancshares, Inc		347
	93,574		Hope Bancorp, Inc		1,657
	15,512		Horizon Bancorp		452
	6,001	*,e	Howard Bancorp, Inc		125
	777,316		Huntington Bancshares, Inc		10,851
	35,117		IBERIABANK Corp		2,885
	6,123	*,e	Impac Mortgage Holdings, Inc		80
	19,246		Independent Bank Corp (MA)		1,437
	17,558		Independent Bank Corp (MI)		398
	12,630		Independent Bank Group, Inc		762
	40,567		International Bancshares Corp		1,627
	5,550	e	Investar Holding Corp		134
	186,863		Investors Bancorp, Inc		2,549
	2,532,916		JPMorgan Chase & Co		241,919
	63,473		Kearny Financial Corp		974
	786,500		Keycorp		14,802

242

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	32,502		Lakeland Bancorp, Inc	$	663
	18,387		Lakeland Financial Corp		896
	6,780		LCNB Corp		142
	33,647		LegacyTexas Financial Group, Inc		1,343
	4,628	*,e	LendingTree, Inc		1,131
	14,926	e	Live Oak Bancshares, Inc		350
	104,364		M&T Bank Corp		16,807
	19,210		Macatawa Bank Corp		197
	16,944		MainSource Financial Group, Inc		608
	4,666	*	Malvern Bancorp, Inc		125
	58,413		MB Financial, Inc		2,630
	13,586		MBT Financial Corp		149
	12,428		Mercantile Bank Corp		434
	35,757		Meridian Bancorp, Inc		667
	6,858		Meta Financial Group, Inc		538
	258,262	*	MGIC Investment Corp		3,236
	1,778		Middlefield Banc Corp		82
	10,800		Midland States Bancorp, Inc		342
	6,195	e	Midsouth Bancorp, Inc		75
	7,821		MidWestOne Financial Group, Inc		264
	3,816		MutualFirst Financial, Inc		147
	19,324		National Bank Holdings Corp		690
	5,351	e	National Bankshares, Inc		241
	7,588	*	National Commerce Corp		325
	20,936	*	Nationstar Mortgage Holdings, Inc		389
	31,726		NBT Bancorp, Inc		1,165
	345,387		New York Community Bancorp, Inc		4,452
	6,480	*	Nicolet Bankshares, Inc		373
	38,864	*	NMI Holdings, Inc		482
	5,235		Northeast Bancorp		137
	33,024		Northfield Bancorp, Inc		573
	5,019		Northrim BanCorp, Inc		175
	69,442		Northwest Bancshares, Inc		1,199
	4,425	e	Norwood Financial Corp		135
	22,825		OceanFirst Financial Corp		627
	33,903		OFG Bancorp		310
	3,155	e	Ohio Valley Banc Corp		115
	6,461		Old Line Bancshares, Inc		181
	90,192		Old National Bancorp		1,650
	2,349		Old Point Financial Corp		76
	21,667		Old Second Bancorp, Inc		291
	14,808		Opus Bank		355
	26,521		Oritani Financial Corp		446
	5,318		Orrstown Financial Services, Inc		132
	14,467		Pacific Continental Corp		390
	11,579	*	Pacific Mercantile Bancorp		106
	28,237	*	Pacific Premier Bancorp, Inc		1,066
	85,767		PacWest Bancorp		4,332
	3,093	*	Paragon Commercial Corp		175
	9,690		Park National Corp		1,046
	38,548		Park Sterling Bank		479
	3,798		Parke Bancorp, Inc		84
	13,465	*	PCSB Financial Corp		254

243

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,582		Peapack Gladstone Financial Corp	$	391
	2,964		Penns Woods Bancorp, Inc		138
	9,540	*,e	PennyMac Financial Services, Inc		170
	2,960	e	Peoples Bancorp of North Carolina, Inc		105
	12,623		Peoples Bancorp, Inc		424
	5,712	e	Peoples Financial Services Corp		273
	249,097		People’s United Financial, Inc		4,519
	9,341		People’s Utah Bancorp		303
	36,552	*	PHH Corp		509
	51,567		Pinnacle Financial Partners, Inc		3,452
	347,558		PNC Financial Services Group, Inc		46,840
	72,890		Popular, Inc		2,620
	8,859		Preferred Bank		535
	6,765		Premier Financial Bancorp, Inc		147
	48,016		Prosperity Bancshares, Inc		3,156
	3,260	*	Provident Bancorp, Inc		75
	4,497		Provident Financial Holdings, Inc		88
	45,191		Provident Financial Services, Inc		1,205
	6,101		Prudential Bancorp, Inc		113
	8,729		QCR Holdings, Inc		397
	152,459		Radian Group, Inc		2,849
	866,166		Regions Financial Corp		13,192
	30,881		Renasant Corp		1,325
	6,104		Republic Bancorp, Inc (Class A)		237
	34,776	*,e	Republic First Bancorp, Inc		322
	13,238		Riverview Bancorp, Inc		111
	25,676		S&T Bancorp, Inc		1,016
	17,394		Sandy Spring Bancorp, Inc		721
	28,631	*	Seacoast Banking Corp of Florida		684
	32,848		ServisFirst Bancshares, Inc		1,276
	8,913		Shore Bancshares, Inc		148
	8,511		SI Financial Group, Inc		127
	8,919		Sierra Bancorp		242
	38,410	*	Signature Bank		4,918
	22,158		Simmons First National Corp (Class A)		1,283
	5,382	*	SmartFinancial, Inc		129
	20,830		South State Corp		1,876
	4,079	*	Southern First Bancshares, Inc		148
	4,139		Southern Missouri Bancorp, Inc		151
	8,140		Southern National Bancorp of Virginia, Inc		138
	20,042		Southside Bancshares, Inc		729
	13,968		Southwest Bancorp, Inc		385
	26,403		State Bank & Trust Co		756
	94,618		Sterling Bancorp/DE		2,332
	16,305		Stock Yards Bancorp, Inc		620
	6,101		Summit Financial Group, Inc		157
	8,249		Sun Bancorp, Inc		205
	5,047	*	Sunshine Bancorp, Inc		117
	347,747		SunTrust Banks, Inc		20,785
	38,070	*	SVB Financial Group		7,122
	87,326		Synovus Financial Corp		4,022
	116,646		TCF Financial Corp		1,988
	5,870		Territorial Bancorp, Inc		185
	35,836	*	Texas Capital Bancshares, Inc		3,075

244

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,383		TFS Financial Corp	$	555
	35,393	*	The Bancorp, Inc		293
	4,645		Timberland Bancorp, Inc		146
	10,641		Tompkins Trustco, Inc		917
	41,087		TowneBank		1,376
	15,762		Trico Bancshares		642
	16,178	*	Tristate Capital Holdings, Inc		370
	10,668	*	Triumph Bancorp, Inc		344
	71,043		Trustco Bank Corp NY		632
	49,168		Trustmark Corp		1,628
	5,127	e	Two River Bancorp		102
	32,550		UMB Financial Corp		2,425
	161,706		Umpqua Holdings Corp		3,155
	31,837		Union Bankshares Corp		1,124
	2,885		Union Bankshares, Inc		140
	72,013		United Bankshares, Inc		2,675
	51,942		United Community Banks, Inc		1,482
	34,307		United Community Financial Corp		329
	36,948		United Financial Bancorp, Inc (New)		676
	9,461	e	United Security Bancshares		90
	5,346		Unity Bancorp, Inc		106
	19,117		Univest Corp of Pennsylvania		612
	1,125,324		US Bancorp		60,306
	184,651		Valley National Bancorp		2,225
	10,468	*	Veritex Holdings, Inc		282
	19,235	*	Walker & Dunlop, Inc		1,007
	64,862		Washington Federal, Inc		2,183
	10,818		Washington Trust Bancorp, Inc		619
	5,982		WashingtonFirst Bankshares, Inc		213
	19,189		Waterstone Financial, Inc		374
	67,195		Webster Financial Corp		3,531
	3,214,044		Wells Fargo & Co		177,254
	30,103		WesBanco, Inc		1,235
	11,970		West Bancorporation, Inc		292
	18,981	e	Westamerica Bancorporation		1,130
	68,448	*	Western Alliance Bancorp		3,633
	19,137		Western New England Bancorp, Inc		209
	38,890		Wintrust Financial Corp		3,045
	144,782	*,e	WMIH Corp		138
	21,617		WSFS Financial Corp		1,054
	3,104	*	Xenith Bankshares, Inc		101
	143,120		Zions Bancorporation		6,752
			TOTAL BANKS		1,283,312
CAPITAL GOODS - 7.8%
	415,203		3M Co		87,151
	102,553		A.O. Smith Corp		6,095
	29,877		Aaon, Inc		1,030
	23,226		AAR Corp		878
	43,959		Actuant Corp (Class A)		1,125
	31,787		Acuity Brands, Inc		5,444
	24,758		Advanced Drainage Systems, Inc		501
	110,795	*	Aecom Technology Corp		4,078

245

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,436	*	Aegion Corp	$	569
	49,582	*	Aerojet Rocketdyne Holdings, Inc		1,736
	14,335	*	Aerovironment, Inc		776
	48,271		AGCO Corp		3,561
	69,836		Air Lease Corp		2,976
	34,921		Aircastle Ltd		778
	6,904		Alamo Group, Inc		741
	21,082		Albany International Corp (Class A)		1,210
	69,239		Allegion plc		5,987
	4,493		Allied Motion Technologies, Inc		114
	93,636		Allison Transmission Holdings, Inc		3,514
	20,276		Altra Holdings, Inc		975
	13,776	*	Ameresco, Inc		107
	2,958	e	American Railcar Industries, Inc		114
	10,171	*	American Woodmark Corp		979
	163,351		Ametek, Inc		10,788
	20,270		Apogee Enterprises, Inc		978
	27,154		Applied Industrial Technologies, Inc		1,787
	283,755		Arconic, Inc		7,060
	10,471		Argan, Inc		704
	17,658	*	Armstrong Flooring, Inc		278
	31,329	*	Armstrong World Industries, Inc		1,606
	15,250		Astec Industries, Inc		854
	15,755	*	Astronics Corp		469
	23,836	*	Atkore International Group, Inc		465
	38,585	*,e	Axon Enterprise, Inc		875
	19,364		AZZ, Inc		943
	36,264		Barnes Group, Inc		2,554
	41,684	*	Beacon Roofing Supply, Inc		2,136
	3,967	*,e	Blue Bird Corp		82
	47,040	*	BMC Stock Holdings, Inc		1,004
	401,297		Boeing Co		102,014
	30,438		Briggs & Stratton Corp		715
	67,070	*	Builders FirstSource, Inc		1,207
	66,179		BWX Technologies, Inc		3,707
	14,163	*	Caesarstone Sdot-Yam Ltd		422
	8,775	*	CAI International, Inc		266
	45,574		Carlisle Cos, Inc		4,571
	410,346		Caterpillar, Inc		51,174
	22,344	*	Chart Industries, Inc		877
	72,289	e	Chicago Bridge & Iron Co NV		1,214
	12,045		CIRCOR International, Inc		656
	64,286	*	Colfax Corp		2,677
	14,727		Columbus McKinnon Corp		558
	27,143		Comfort Systems USA, Inc		969
	18,016	*	Commercial Vehicle Group, Inc		132
	28,296	*	Continental Building Products Inc		736
	35,538		Crane Co		2,843
	10,574	*	CSW Industrials, Inc		469
	18,660		Cubic Corp		952
	110,586		Cummins, Inc		18,582
	31,189		Curtiss-Wright Corp		3,261
	225,512		Deere & Co		28,322
	44,391	*	DigitalGlobe, Inc		1,565

246

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,586		DMC Global, Inc	$	162
	93,644		Donaldson Co, Inc		4,302
	16,771		Douglas Dynamics, Inc		661
	111,198		Dover Corp		10,162
	8,048	*	Ducommun, Inc		258
	11,117	*	DXP Enterprises, Inc		350
	22,099	*	Dycom Industries, Inc		1,898
	3,733		Eastern Co		107
	315,099		Eaton Corp		24,196
	42,506		EMCOR Group, Inc		2,949
	463,413		Emerson Electric Co		29,121
	15,305		Encore Wire Corp		685
	11,608	*,e	Energous Corp		147
	24,905	*,e	Energy Recovery, Inc		197
	31,570		EnerSys		2,184
	12,394	*	Engility Holdings, Inc		430
	15,803		EnPro Industries, Inc		1,273
	2,576	e	EnviroStar, Inc		71
	85,898		Equifax, Inc		9,104
	18,556		ESCO Technologies, Inc		1,112
	18,922	*	Esterline Technologies Corp		1,706
	207,374		Fastenal Co		9,452
	42,557		Federal Signal Corp		906
	94,563		Flowserve Corp		4,027
	101,648		Fluor Corp		4,279
	221,404		Fortive Corp		15,673
	109,918		Fortune Brands Home & Security, Inc		7,390
	9,256	*,e	Foundation Building Materials, Inc		131
	34,098		Franklin Electric Co, Inc		1,529
	9,868		Freightcar America, Inc		193
	30,022	*	Gardner Denver Holdings, Inc		826
	28,224	e	GATX Corp		1,737
	4,980	*	Gencor Industries, Inc		88
	41,949	*	Generac Holdings, Inc		1,927
	37,226		General Cable Corp		702
	183,574		General Dynamics Corp		37,739
	6,272,735		General Electric Co		151,675
	22,869	*	Gibraltar Industries, Inc		712
	16,574		Global Brass & Copper Holdings, Inc		560
	17,148	*	GMS, Inc		607
	14,132		Gorman-Rupp Co		460
	39,043		Graco, Inc		4,829
	7,763		Graham Corp		162
	29,395		Granite Construction, Inc		1,703
	44,924	*	Great Lakes Dredge & Dock Corp		218
	19,838	e	Greenbrier Cos, Inc		955
	20,793		Griffon Corp		462
	23,777		H&E Equipment Services, Inc		694
	8,975		Hardinge, Inc		137
	59,172	*	Harsco Corp		1,237
	26,381	*	HC2 Holdings, Inc		139
	145,889	*	HD Supply Holdings, Inc		5,262
	16,890		HEICO Corp		1,517

247

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,908		HEICO Corp (Class A)	$	2,660
	17,889	*	Herc Holdings, Inc		879
	65,563		Hexcel Corp		3,765
	44,280		Hillenbrand, Inc		1,720
	542,447		Honeywell International, Inc		76,886
	38,998		Hubbell, Inc		4,525
	32,812		Huntington Ingalls		7,430
	4,796		Hurco Cos, Inc		200
	16,053	*,e	Huttig Building Products, Inc		113
	7,224		Hyster-Yale Materials Handling, Inc		552
	54,355		IDEX Corp		6,603
	5,334	*	IES Holdings, Inc		92
	219,833		Illinois Tool Works, Inc		32,527
	184,527		Ingersoll-Rand plc		16,454
	13,472		Insteel Industries, Inc		352
	62,449		ITT, Inc		2,765
	85,068		Jacobs Engineering Group, Inc		4,957
	15,238	*	JELD-WEN Holding, Inc		541
	22,550		John Bean Technologies Corp		2,280
	676,085		Johnson Controls International plc		27,239
	8,084		Kadant, Inc		797
	17,941		Kaman Corp		1,001
	104,383		KBR, Inc		1,866
	56,290		Kennametal, Inc		2,271
	35,741	*,e	KEYW Holding Corp, The		272
	37,311	*	KLX, Inc		1,975
	50,983	*	Kratos Defense & Security Solutions, Inc		667
	55,566		L3 Technologies, Inc		10,470
	4,456	*	Lawson Products, Inc		112
	13,681	*	Layne Christensen Co		172
	5,677	*	LB Foster Co (Class A)		129
	28,023		Lennox International, Inc		5,015
	42,666		Lincoln Electric Holdings, Inc		3,912
	7,711		Lindsay Corp		709
	177,944		Lockheed Martin Corp		55,214
	16,944		LSI Industries, Inc		112
	12,223	*	Lydall, Inc		700
	90,522		Manitowoc Co, Inc		815
	229,109		Masco Corp		8,938
	21,549	*	Masonite International Corp		1,491
	48,078	*	Mastec, Inc		2,231
	33,690	*	Mercury Systems, Inc		1,748
	60,412	*	Meritor, Inc		1,571
	40,281	*	Middleby Corp		5,163
	31,692	*	Milacron Holdings Corp		534
	7,280		Miller Industries, Inc		203
	22,998	*	Moog, Inc (Class A)		1,919
	64,419	*	MRC Global, Inc		1,127
	31,901		MSC Industrial Direct Co (Class A)		2,411
	40,743		Mueller Industries, Inc		1,424
	114,327		Mueller Water Products, Inc (Class A)		1,463
	10,993	*	MYR Group, Inc		320
	3,534	e	National Presto Industries, Inc		376
	35,673	*	Navistar International Corp		1,572

248

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	29,151	*	NCI Building Systems, Inc	$	455
	3,937	*	Neff Corp		98
	18,421	*	Nexeo Solutions, Inc		134
	19,066		NN, Inc		553
	41,450		Nordson Corp		4,912
	116,365		Northrop Grumman Corp		33,481
	6,891	*	Northwest Pipe Co		131
	78,206	*	NOW, Inc		1,080
	5,211	*	NV5 Holdings, Inc		285
	2,354		Omega Flex, Inc		169
	40,758		Orbital ATK, Inc		5,427
	19,593	*	Orion Marine Group, Inc		129
	53,964		Oshkosh Truck Corp		4,454
	80,403		Owens Corning, Inc		6,219
	247,176		PACCAR, Inc		17,881
	91,690		Parker-Hannifin Corp		16,048
	11,398	*	Patrick Industries, Inc		959
	118,713		Pentair plc		8,068
	36,380	*	PGT, Inc		544
	159,236	*,e	Plug Power, Inc		416
	15,949	*	Ply Gem Holdings, Inc		272
	7,077		Powell Industries, Inc		212
	1,801		Preformed Line Products Co		121
	28,783		Primoris Services Corp		847
	18,284	*	Proto Labs, Inc		1,468
	25,291		Quanex Building Products Corp		580
	106,691	*	Quanta Services, Inc		3,987
	25,955		Raven Industries, Inc		841
	209,986		Raytheon Co		39,179
	16,634	*	RBC Bearings, Inc		2,082
	32,248		Regal-Beloit Corp		2,548
	8,757	e	REV Group, Inc		252
	8,484	*,e	Revolution Lighting Technologies, Inc		55
	75,228	*	Rexnord Corp		1,912
	92,447		Rockwell Automation, Inc		16,475
	116,533		Rockwell Collins, Inc		15,232
	72,384		Roper Industries, Inc		17,618
	4,597	*	Rush Enterprises, Inc		201
	21,510	*	Rush Enterprises, Inc (Class A)		996
	122,796	*	Sensata Technologies Holding BV		5,903
	29,530		Simpson Manufacturing Co, Inc		1,448
	24,415	*	SiteOne Landscape Supply, Inc		1,419
	41,104		Snap-On, Inc		6,125
	7,959	*	Sparton Corp		185
	86,373		Spirit Aerosystems Holdings, Inc (Class A)		6,713
	30,406	*	SPX Corp		892
	29,148	*	SPX FLOW, Inc		1,124
	8,333		Standex International Corp		885
	107,490		Stanley Works		16,228
	18,886	*	Sterling Construction Co, Inc		288
	16,194		Sun Hydraulics Corp		874
	60,603	*,e	Sunrun, Inc		336
	25,120	*	Teledyne Technologies, Inc		3,999

249

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,744		Tennant Co	$	844
	65,568		Terex Corp		2,952
	18,852	e	Textainer Group Holdings Ltd		323
	192,234		Textron, Inc		10,358
	7,401	*,e	The ExOne Company		84
	24,419	*	Thermon Group Holdings		439
	50,165		Timken Co		2,436
	33,155		Titan International, Inc		337
	11,613	*	Titan Machinery, Inc		180
	75,192		Toro Co		4,666
	7,431	*	TPI Composites, Inc		166
	34,916		TransDigm Group, Inc		8,926
	20,335	*	Trex Co, Inc		1,832
	34,233	*	Trimas Corp		924
	108,898		Trinity Industries, Inc		3,474
	30,588		Triton International Ltd		1,018
	32,779		Triumph Group, Inc		975
	27,269	*	Tutor Perini Corp		774
	6,567	*	Twin Disc, Inc		122
	61,292	*	United Rentals, Inc		8,504
	538,493		United Technologies Corp		62,508
	74,230	*	Univar, Inc		2,147
	14,766		Universal Forest Products, Inc		1,449
	64,802	*	USG Corp		2,116
	15,302		Valmont Industries, Inc		2,419
	7,860	*	Vectrus, Inc		242
	7,828	*	Veritiv Corp		254
	12,845	*	Vicor Corp		303
	38,251	e	W.W. Grainger, Inc		6,876
	42,603		Wabash National Corp		972
	36,092	*	WABCO Holdings, Inc		5,342
	60,858	e	Wabtec Corp		4,610
	21,686		Watsco, Inc		3,493
	18,825		Watts Water Technologies, Inc (Class A)		1,303
	88,290	*	Welbilt, Inc		2,035
	39,330	*	Wesco Aircraft Holdings, Inc		370
	34,751	*	WESCO International, Inc		2,024
	3,392	*	Willis Lease Finance Corp		83
	37,561		Woodward Governor Co		2,915
	129,048		Xylem, Inc		8,082
			TOTAL CAPITAL GOODS		1,462,771
COMMERCIAL & PROFESSIONAL SERVICES - 0.9%
	40,285		ABM Industries, Inc		1,680
	37,820	*	Acacia Research (Acacia Technologies)		172
	77,675	*	ACCO Brands Corp		924
	17,161	*	Advanced Disposal Services, Inc		432
	29,069	*	Advisory Board Co		1,559
	26,021	*	ARC Document Solutions, Inc		106
	5,145		Barrett Business Services, Inc		291
	4,266	e	BG Staffing, Inc		71
	33,472		Brady Corp (Class A)		1,270
	33,001		Brink’s Co		2,780
	29,675	*	Casella Waste Systems, Inc (Class A)		558

250

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	35,493	*	CBIZ, Inc	$	577
	18,496		Ceco Environmental Corp		157
	61,703		Cintas Corp		8,903
	38,542	*	Clean Harbors, Inc		2,185
	10,504	*	Cogint, Inc		52
	140,823	*	Copart, Inc		4,840
	84,474	e	Covanta Holding Corp		1,254
	7,013		CRA International, Inc		288
	34,722		Deluxe Corp		2,533
	25,970		Dun & Bradstreet Corp		3,023
	107,512	*,†,m	Dyax Corp		119
	20,052		Ennis, Inc		394
	28,344		Essendant, Inc		373
	18,006		Exponent, Inc		1,331
	7,620	*	Franklin Covey Co		155
	30,776	*	FTI Consulting, Inc		1,092
	9,864	*	GP Strategies Corp		304
	49,914		Healthcare Services Group		2,694
	14,300		Heidrick & Struggles International, Inc		302
	8,893	*	Heritage-Crystal Clean, Inc		193
	43,782		Herman Miller, Inc		1,572
	25,556	*	Hill International, Inc		121
	31,637		HNI Corp		1,312
	26,158	*,e	Hudson Technologies, Inc		204
	15,850	*	Huron Consulting Group, Inc		544
	13,124	*	ICF International, Inc		708
	282,136	*	IHS Markit Ltd		12,437
	32,837	*	Innerworkings, Inc		369
	12,988		Insperity, Inc		1,143
	44,581		Interface, Inc		976
	99,519		KAR Auction Services, Inc		4,751
	20,372		Kelly Services, Inc (Class A)		511
	18,302		Kforce, Inc		370
	25,171		Kimball International, Inc (Class B)		498
	35,963		Knoll, Inc		719
	37,013		Korn/Ferry International		1,459
	23,849		LSC Communications, Inc		394
	48,422		Manpower, Inc		5,705
	22,585		Matthews International Corp (Class A)		1,406
	17,061		McGrath RentCorp		746
	80,085	*,m	Media General, Inc		0
	13,300	*	Mistras Group, Inc		273
	31,645		Mobile Mini, Inc		1,090
	24,011		MSA Safety, Inc		1,909
	9,774		Multi-Color Corp		801
	33,798	*	Navigant Consulting, Inc		572
	259,314		Nielsen NV		10,749
	4,961	*	NL Industries, Inc		45
	36,708	*	On Assignment, Inc		1,971
	6,800	*	Pendrell Corp		46
	133,127		Pitney Bowes, Inc		1,865
	21,796		Quad Graphics, Inc		493
	165,573		Republic Services, Inc		10,938

251

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,546		Resources Connection, Inc	$	286
	89,569		Robert Half International, Inc		4,509
	66,866		Rollins, Inc		3,085
	31,926	*	RPX Corp		424
	51,083		RR Donnelley & Sons Co		526
	12,140	*	SP Plus Corp		480
	61,807		Steelcase, Inc (Class A)		952
	60,073	*	Stericycle, Inc		4,302
	20,907	*,e	Team, Inc		279
	41,281		Tetra Tech, Inc		1,922
	92,358	*	TransUnion		4,365
	30,336	*	TriNet Group, Inc		1,020
	30,958	*	TrueBlue, Inc		695
	10,976		Unifirst Corp		1,663
	16,280		US Ecology, Inc		876
	109,058	*	Verisk Analytics, Inc		9,073
	15,178		Viad Corp		924
	5,586		VSE Corp		318
	26,743	*	WageWorks, Inc		1,623
	318,793		Waste Management, Inc		24,952
	30,841		West Corp		724
	5,398	*	Willdan Group, Inc		175
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		170,482
CONSUMER DURABLES & APPAREL - 1.4%
	15,286	e	Acushnet Holdings Corp		271
	39,523	*,e	American Outdoor Brands Corp		603
	7,681		Bassett Furniture Industries, Inc		290
	21,459	*	Beazer Homes USA, Inc		402
	64,612		Brunswick Corp		3,616
	50,955		CalAtlantic Group, Inc		1,866
	69,841		Callaway Golf Co		1,008
	33,604		Carter’s, Inc		3,318
	6,102	*	Cavco Industries, Inc		900
	13,611	*	Century Communities, Inc		336
	14,228	*	Clarus Corp		107
	203,320		Coach, Inc		8,190
	19,279		Columbia Sportswear Co		1,187
	45,716	*	CROCS, Inc		443
	6,879		CSS Industries, Inc		198
	6,895		Culp, Inc		226
	22,861	*	Deckers Outdoor Corp		1,564
	5,204	*	Delta Apparel, Inc		112
	248,158		DR Horton, Inc		9,909
	7,865		Escalade, Inc		107
	18,783		Ethan Allen Interiors, Inc		609
	5,531		Flexsteel Industries, Inc		280
	31,215	*,e	Fossil Group, Inc		291
	86,235		Garmin Ltd		4,654
	30,360	*	G-III Apparel Group Ltd		881
	74,136	*,e	GoPro, Inc		816
	16,535	*	Green Brick Partners, Inc		164
	263,507	e	Hanesbrands, Inc		6,493
	81,028		Hasbro, Inc		7,914

252

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,658	*	Helen of Troy Ltd	$	1,905
	7,913		Hooker Furniture Corp		378
	93,175	*,e	Hovnanian Enterprises, Inc (Class A)		180
	34,721	*	Iconix Brand Group, Inc		198
	13,822	*	Installed Building Products Inc		896
	18,443	*	iRobot Corp		1,421
	3,583		Johnson Outdoors, Inc		263
	60,650	e	KB Home		1,463
	36,137		La-Z-Boy, Inc		972
	94,275		Leggett & Platt, Inc		4,500
	7,350		Lennar Corp (B Shares)		331
	144,066		Lennar Corp (Class A)		7,607
	12,635	*,e	LGI Homes, Inc		614
	3,964		Libbey, Inc		37
	7,210		Lifetime Brands, Inc		132
	68,879	*	Lululemon Athletica, Inc		4,288
	16,714	*	M/I Homes, Inc		447
	13,092	*	Malibu Boats Inc		414
	8,407		Marine Products Corp		135
	246,470		Mattel, Inc		3,815
	13,690		MCBC Holdings, Inc		279
	30,607		MDC Holdings, Inc		1,016
	26,198	*	Meritage Homes Corp		1,163
	99,912	*	Michael Kors Holdings Ltd		4,781
	44,608	*	Mohawk Industries, Inc		11,041
	11,320		Movado Group, Inc		317
	3,180		Nacco Industries, Inc (Class A)		273
	22,756	*	Nautilus, Inc		385
	6,504	*	New Home Co Inc		73
	345,653		Newell Rubbermaid, Inc		14,749
	939,517		Nike, Inc (Class B)		48,714
	2,410	*	NVR, Inc		6,880
	11,750		Oxford Industries, Inc		747
	8,860	*	Perry Ellis International, Inc		210
	42,713	e	Polaris Industries, Inc		4,469
	28,935		Pool Corp		3,130
	211,341		Pulte Homes, Inc		5,776
	56,345		PVH Corp		7,103
	40,781		Ralph Lauren Corp		3,601
	27,136	*,e	Sequential Brands Group, Inc		81
	94,686	*	Skechers U.S.A., Inc (Class A)		2,376
	40,349	*	Steven Madden Ltd		1,747
	12,383	e	Sturm Ruger & Co, Inc		640
	5,163		Superior Uniform Group, Inc		118
	43,734	*	Taylor Morrison Home Corp		964
	33,646	*,e	Tempur Sealy International, Inc		2,171
	107,446		Toll Brothers, Inc		4,456
	26,487	*	TopBuild Corp		1,726
	109,987	*	TRI Pointe Homes, Inc		1,519
	36,963		Tupperware Corp		2,285
	135,169	*,e	Under Armour, Inc		2,030
	134,677	*,e	Under Armour, Inc (Class A)		2,219
	10,905	*	Unifi, Inc		388

253

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,485	*	Universal Electronics, Inc	$	665
	16,444	*	Vera Bradley, Inc		145
	238,992		VF Corp		15,193
	41,550	*	Vista Outdoor, Inc		953
	5,214		Weyco Group, Inc		148
	50,263		Whirlpool Corp		9,270
	17,713	*	William Lyon Homes, Inc		407
	67,978		Wolverine World Wide, Inc		1,961
	21,026	*	Zagg, Inc		331
			TOTAL CONSUMER DURABLES & APPAREL		253,251
CONSUMER SERVICES - 2.2%
	44,790	*	Adtalem Global Education, Inc		1,606
	12,233	*	American Public Education, Inc		258
	173,959		ARAMARK Holdings Corp		7,064
	10,215	*	Ascent Media Corp (Series A)		133
	64,026	*	Belmond Ltd.		874
	15,173	*	BJ’s Restaurants, Inc		462
	71,417		Bloomin’ Brands, Inc		1,257
	14,693		Bob Evans Farms, Inc		1,139
	12,424	*	Bojangles’, Inc		168
	61,116		Boyd Gaming Corp		1,592
	13,548	*	Bridgepoint Education, Inc		130
	36,213	*	Bright Horizons Family Solutions		3,122
	34,614	e	Brinker International, Inc		1,103
	11,807	*	Buffalo Wild Wings, Inc		1,248
	34,686	*	Caesars Acquisition Co		744
	38,423	*,e	Caesars Entertainment Corp		513
	8,227	*	Cambium Learning Group, Inc		55
	8,534		Capella Education Co		599
	46,334	*	Career Education Corp		481
	293,487		Carnival Corp		18,950
	11,838		Carriage Services, Inc		303
	27,792	*	Carrols Restaurant Group, Inc		303
	16,727	*	Century Casinos, Inc		137
	31,824		Cheesecake Factory		1,340
	60,816	*,e	Chegg, Inc		903
	18,056	*,e	Chipotle Mexican Grill, Inc (Class A)		5,558
	24,500		Choice Hotels International, Inc		1,566
	9,566		Churchill Downs, Inc		1,973
	12,474	*	Chuy’s Holdings, Inc		263
	5,623		Collectors Universe		135
	13,430	e	Cracker Barrel Old Country Store, Inc		2,036
	89,127		Darden Restaurants, Inc		7,021
	30,312	*	Dave & Buster’s Entertainment, Inc		1,591
	17,725	*	Del Frisco’s Restaurant Group, Inc		258
	23,487	*	Del Taco Restaurants, Inc		360
	41,277	*	Denny’s Corp		514
	10,362	e	DineEquity, Inc		445
	34,294		Domino’s Pizza, Inc		6,809
	43,999	*	Drive Shack, Inc		159
	66,960		Dunkin Brands Group, Inc		3,554
	14,501	*	El Pollo Loco Holdings, Inc		176
	33,208	*,e	Eldorado Resorts, Inc		852

254

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	2,242	*	Empire Resorts, Inc	$	50
	117,907		Extended Stay America, Inc		2,358
	20,469	*,e	Fiesta Restaurant Group, Inc		389
	6,424	*	Fogo De Chao, Inc		80
	7,389		Golden Entertainment, Inc		180
	3,029		Graham Holdings Co		1,772
	33,683	*	Grand Canyon Education, Inc		3,059
	149,953		H&R Block, Inc		3,971
	14,706	*,e	Habit Restaurants, Inc		192
	42,750	*	Hilton Grand Vacations, Inc		1,651
	138,087		Hilton Worldwide Holdings, Inc		9,590
	76,812	*	Houghton Mifflin Harcourt Co		926
	24,217	*	Hyatt Hotels Corp		1,496
	76,966		ILG, Inc		2,057
	76,027		International Game Technology plc		1,866
	18,045		International Speedway Corp (Class A)		650
	10,324	*	J Alexander’s Holdings, Inc		120
	21,801		Jack in the Box, Inc		2,222
	26,055	*	K12, Inc		465
	61,127	*	La Quinta Holdings, Inc		1,070
	260,792		Las Vegas Sands Corp		16,732
	26,148	*	Laureate Education, Inc		380
	3,365		Liberty Tax, Inc		48
	10,890	*	Lindblad Expeditions Holdings, Inc		117
	14,211		Marcus Corp		394
	227,900		Marriott International, Inc (Class A)		25,128
	15,948		Marriott Vacations Worldwide Corp		1,986
	587,828		McDonald’s Corp		92,101
	367,507		MGM Resorts International		11,977
	7,140	*	Monarch Casino & Resort, Inc		282
	2,378	*	Nathan’s Famous, Inc		176
	8,091	*,e	Noodles & Co		36
	116,038	*	Norwegian Cruise Line Holdings Ltd		6,272
	18,811		Papa John’s International, Inc		1,375
	60,160	*	Penn National Gaming, Inc		1,407
	38,765	*	Pinnacle Entertainment, Inc		826
	60,595		Planet Fitness, Inc		1,635
	16,455	*	Potbelly Corp		204
	6,547		RCI Hospitality Holdings, Inc		162
	11,433	*	Red Lion Hotels Corp		99
	9,211	*	Red Robin Gourmet Burgers, Inc		617
	48,687		Red Rock Resorts, Inc		1,128
	27,109	*	Regis Corp		387
	123,608		Royal Caribbean Cruises Ltd		14,652
	46,223	*	Ruby Tuesday, Inc		99
	21,790		Ruth’s Chris Steak House, Inc		456
	37,197	*	Scientific Games Corp (Class A)		1,705
	51,334	*,e	SeaWorld Entertainment, Inc		667
	132,072		Service Corp International		4,556
	97,685	*	ServiceMaster Global Holdings, Inc		4,565
	15,620	*,e	Shake Shack, Inc		519
	51,787	e	Six Flags Entertainment Corp		3,156
	29,466	e	Sonic Corp		750

255

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	27,603	*	Sotheby’s (Class A)	$	1,273
	9,984		Speedway Motorsports, Inc		213
	1,004,239		Starbucks Corp		53,938
	769	*	Steak N Shake Co		256
	7,659		Strayer Education, Inc		668
	48,860		Texas Roadhouse, Inc (Class A)		2,401
	28,261		Vail Resorts, Inc		6,447
	20,333	*,e	Weight Watchers International, Inc		885
	134,006		Wendy’s		2,081
	21,048		Wingstop, Inc		700
	74,098		Wyndham Worldwide Corp		7,811
	58,012		Wynn Resorts Ltd		8,639
	264,694	*	Yum China Holdings, Inc		10,580
	246,013		Yum! Brands, Inc		18,109
	14,098	*,e	Zoe’s Kitchen, Inc		178
			TOTAL CONSUMER SERVICES		420,691
DIVERSIFIED FINANCIALS - 3.9%
	40,771		Affiliated Managers Group, Inc		7,740
	21,134		AG Mortgage Investment Trust		407
	256,339		AGNC Investment Corp		5,557
	330,053		Ally Financial, Inc		8,007
	530,062		American Express Co		47,949
	109,330		Ameriprise Financial, Inc		16,237
	728,529		Annaly Capital Management, Inc		8,881
	70,479		Anworth Mortgage Asset Corp		424
	61,155		Apollo Commercial Real Estate Finance, Inc		1,108
	22,112		Ares Commercial Real Estate Corp		294
	16,506	e	Arlington Asset Investment Corp (Class A)		210
	26,163	e	ARMOUR Residential REIT, Inc		704
	32,135		Artisan Partners Asset Management, Inc		1,048
	4,316		Associated Capital Group, Inc		154
	10,240		B. Riley Financial, Inc		175
	727,958		Bank of New York Mellon Corp		38,596
	166,153		BGC Partners, Inc (Class A)		2,404
	88,288		BlackRock, Inc		39,473
	343,037		Capital One Financial Corp		29,042
	71,072		Capstead Mortgage Corp		686
	79,012		CBOE Holdings, Inc		8,504
	855,098		Charles Schwab Corp		37,402
	7,318		Cherry Hill Mortgage Investment Corp		132
	132,524		Chimera Investment Corp		2,507
	244,689		CME Group, Inc		33,199
	15,440		Cohen & Steers, Inc		610
	18,127	*	Cowen Group, Inc		323
	8,085	*	Credit Acceptance Corp		2,265
	112,419		CYS Investments, Inc		971
	2,179		Diamond Hill Investment Group, Inc		463
	263,279		Discover Financial Services		16,976
	19,156	*	Donnelley Financial Solutions, Inc		413
	33,323		Dynex Capital, Inc		242
	197,618	*	E*TRADE Financial Corp		8,618
	78,977		Eaton Vance Corp		3,899
	11,344	*	Elevate Credit, Inc		69

256

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,816		Ellington Residential Mortgage REIT	$	70
	17,368	*,e	Encore Capital Group, Inc		769
	23,911	*	Enova International, Inc		322
	29,096		Evercore Partners, Inc (Class A)		2,335
	38,445	*	Ezcorp, Inc (Class A)		365
	27,381		Factset Research Systems, Inc		4,932
	68,886		Federated Investors, Inc (Class B)		2,046
	42,264		Financial Engines, Inc		1,469
	34,393		FirstCash, Inc		2,172
	48,331	*	FNFV Group		829
	239,890		Franklin Resources, Inc		10,678
	23,847		Gain Capital Holdings, Inc		152
	4,049		GAMCO Investors, Inc (Class A)		120
	264,991		Goldman Sachs Group, Inc		62,853
	7,426	e	Granite Point Mortgage Trust, Inc		139
	8,938		Great Ajax Corp		126
	33,057	*	Green Dot Corp		1,639
	19,893	e	Greenhill & Co, Inc		330
	10,099		Hamilton Lane, Inc		271
	35,286		Hannon Armstrong Sustainable Infrastructure Capital, Inc		860
	15,460		Houlihan Lokey, Inc		605
	47,028		Interactive Brokers Group, Inc (Class A)		2,118
	421,720		IntercontinentalExchange Group, Inc		28,972
	11,369	*	INTL FCStone, Inc		436
	288,465		Invesco Ltd		10,108
	81,478		Invesco Mortgage Capital, Inc		1,396
	24,759		Investment Technology Group, Inc		548
	7,773	e	KKR Real Estate Finance Trust, Inc		164
	49,496		Ladder Capital Corp		682
	73,441		Ladenburg Thalmann Financial Services, Inc		212
	87,189		Lazard Ltd (Class A)		3,943
	62,850		Legg Mason, Inc		2,471
	214,482	*	LendingClub Corp		1,306
	234,584		Leucadia National Corp		5,923
	63,483		LPL Financial Holdings, Inc		3,274
	26,319		MarketAxess Holdings, Inc		4,856
	6,533		Marlin Business Services Corp		188
	5,352		Medley Management, Inc		33
	280,832		MFA Mortgage Investments, Inc		2,460
	18,185		Moelis & Co		783
	119,700		Moody’s Corp		16,663
	948,727		Morgan Stanley		45,700
	13,834		Morningstar, Inc		1,176
	63,518		MSCI, Inc (Class A)		7,425
	34,047		MTGE Investment Corp		661
	81,850		NASDAQ OMX Group, Inc		6,349
	205,423		Navient Corp		3,085
	14,990		Nelnet, Inc (Class A)		757
	216,341		New Residential Investment Corp		3,619
	75,449		New York Mortgage Trust, Inc		464
	22,218		NewStar Financial, Inc		261
	150,134		Northern Trust Corp		13,802

257

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,173		OM Asset Management plc	$	599
	36,046	*	On Deck Capital, Inc		168
	38,494	*	OneMain Holdings, Inc		1,085
	7,363		Oppenheimer Holdings, Inc		128
	23,694	e	Orchid Island Capital, Inc		241
	6,966		Owens Realty Mortgage, Inc		127
	47,765		PennyMac Mortgage Investment Trust		831
	17,372	*	Pico Holdings, Inc		290
	10,272		Piper Jaffray Cos		610
	13,025		PJT Partners, Inc		499
	33,753	*	PRA Group, Inc		967
	9,591		Pzena Investment Management, Inc (Class A)		104
	93,238		Raymond James Financial, Inc		7,863
	56,629		Redwood Trust, Inc		922
	8,577	*	Regional Management Corp		208
	22,197		Resource Capital Corp		239
	186,027		S&P Global, Inc		29,078
	16,951	*	Safeguard Scientifics, Inc		226
	104,294	*	Santander Consumer USA Holdings, Inc		1,603
	95,362		SEI Investments Co		5,823
	5,338		Silvercrest Asset Management Group, Inc		78
	313,613	*	SLM Corp		3,597
	178,139		Starwood Property Trust, Inc		3,869
	270,401		State Street Corp		25,834
	47,909		Stifel Financial Corp		2,561
	571,621		Synchrony Financial		17,749
	169,711		T Rowe Price Group, Inc		15,384
	181,946		TD Ameritrade Holding Corp		8,879
	22,143		Tiptree Financial, Inc		138
	7,897	*	TPG RE Finance Trust, Inc		156
	251,161		Two Harbors Investment Corp		2,532
	18,355	e	Virtu Financial, Inc		297
	4,800		Virtus Investment Partners, Inc		557
	135,000		Voya Financial, Inc		5,385
	58,496	e	Waddell & Reed Financial, Inc (Class A)		1,174
	28,538	e	Western Asset Mortgage Capital Corp		299
	5,409		Westwood Holdings Group, Inc		364
	84,317	e	WisdomTree Investments, Inc		858
	4,248	*	World Acceptance Corp		352
	10,497		ZAIS Financial Corp		165
			TOTAL DIVERSIFIED FINANCIALS		730,445
ENERGY - 5.7%
	109,725	*	Abraxas Petroleum Corp		206
	1,730		Adams Resources & Energy, Inc		72
	403,885		Anadarko Petroleum Corp		19,730
	110,226	b	Andeavor		11,370
	167,046	*,e	Antero Resources Corp		3,324
	274,941		Apache Corp		12,592
	28,129	*,e	Approach Resources, Inc		71
	15,667	e	Arch Coal, Inc		1,124
	51,391		Archrock, Inc		645
	20,832	e	Ardmore Shipping Corp		172
	54,456	*,e	Atwood Oceanics, Inc		511

258

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	306,760		Baker Hughes a GE Co	$	11,234
	12,272	*	Basic Energy Services, Inc		237
	21,135	*	Bill Barrett Corp		91
	14,562	*,e	Bonanza Creek Energy, Inc		480
	26,221	e	Bristow Group, Inc		245
	33,520	*	C&J Energy Services, Inc		1,005
	330,287		Cabot Oil & Gas Corp		8,835
	16,749	*,e	California Resources Corp		175
	145,414	*,e	Callon Petroleum Co		1,634
	15,028	*,e	CARBO Ceramics, Inc		130
	45,074	*	Carrizo Oil & Gas, Inc		772
	80,346	*,e	Centennial Resource Development, Inc		1,444
	148,068	*	Cheniere Energy, Inc		6,669
	635,661	*,e	Chesapeake Energy Corp		2,733
	1,358,776		Chevron Corp		159,656
	67,259		Cimarex Energy Co		7,645
	96,211	*	Clean Energy Fuels Corp		239
	54,879	*	Cloud Peak Energy, Inc		201
	106,246	*	Concho Resources, Inc		13,995
	874,306		ConocoPhillips		43,759
	165,329	*	Consol Energy, Inc		2,801
	12,994	*	Contango Oil & Gas Co		65
	64,271	*	Continental Resources, Inc		2,482
	11,149	e	CVR Energy, Inc		289
	56,457		Delek US Holdings, Inc		1,509
	280,409	*,e	Denbury Resources, Inc		376
	381,647		Devon Energy Corp		14,010
	55,111		DHT Holdings, Inc		219
	38,317	*,e	Diamond Offshore Drilling, Inc		556
	70,230	*	Diamondback Energy, Inc		6,880
	17,982	*	Dorian LPG Ltd		123
	27,635	*	Dril-Quip, Inc		1,220
	7,121	*,e	Earthstone Energy, Inc		78
	61,180	*	Eclipse Resources Corp		153
	70,571	*	Energen Corp		3,859
	21,016	*	Energy XXI Gulf Coast, Inc		217
	214,858	e	Ensco plc		1,283
	416,487		EOG Resources, Inc		40,291
	28,367	*,e	EP Energy Corp		92
	124,185		EQT Corp		8,102
	14,364	*	Era Group, Inc		161
	17,517		Evolution Petroleum Corp		126
	23,313	*	Exterran Corp		737
	87,596	*,e	Extraction Oil & Gas, Inc		1,348
	3,036,875	d	Exxon Mobil Corp		248,963
	110,222	*,e	Fairmount Santrol Holdings, Inc		527
	49,153	*	Forum Energy Technologies, Inc		782
	36,662	e	Frank’s International NV		283
	52,498	e	Frontline Ltd		317
	32,033	e	GasLog Ltd		559
	74,944	*,e	Gastar Exploration, Inc		66
	32,816	*,e	Gener8 Maritime, Inc		148
	9,836	*	Geospace Technologies Corp		175

259

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	69,477	e	Golar LNG Ltd	$	1,571
	26,945		Green Plains Renewable Energy, Inc		543
	10,488		Gulf Island Fabrication, Inc		133
	109,431	*	Gulfport Energy Corp		1,569
	42,984	*,e	Halcon Resources Corp		292
	10,340		Hallador Energy Co		59
	624,330		Halliburton Co		28,738
	100,808	*	Helix Energy Solutions Group, Inc		745
	76,890	e	Helmerich & Payne, Inc		4,007
	206,705		Hess Corp		9,692
	127,243		HollyFrontier Corp		4,577
	23,510	*	Independence Contract Drilling, Inc		89
	20,967	*	International Seaways, Inc		413
	823	*,e	Isramco, Inc		95
	22,747	*,e	Jagged Peak Energy, Inc		311
	22,628	*,e	Keane Group, Inc		377
	7,122	*,e	Key Energy Services, Inc		94
	1,389,197		Kinder Morgan, Inc		26,645
	139,280	*,e	Kosmos Energy LLC		1,109
	117,588	*	Laredo Petroleum Holdings, Inc		1,520
	29,366	*,e	Lilis Energy, Inc		131
	5,616	*	Mammoth Energy Services, Inc		95
	610,364		Marathon Oil Corp		8,277
	362,318		Marathon Petroleum Corp		20,319
	64,577	*	Matador Resources Co		1,753
	19,934	*	Matrix Service Co		303
	200,712	*	McDermott International, Inc		1,459
	7,581	*	Midstates Petroleum Co, Inc		118
	114,242		Murphy Oil Corp		3,034
	185,382		Nabors Industries Ltd		1,496
	272,401		National Oilwell Varco, Inc		9,733
	9,713	*	Natural Gas Services Group, Inc		276
	61,477		Navios Maritime Acq Corp		75
	7,613	*,e	NCS Multistage Holdings, Inc		183
	144,456	*	Newfield Exploration Co		4,286
	63,344	*	Newpark Resources, Inc		633
	177,948		Noble Corp plc		819
	349,693		Noble Energy, Inc		9,917
	68,002	e	Nordic American Tanker Shipping		363
	170,623	*	Oasis Petroleum, Inc		1,556
	551,419		Occidental Petroleum Corp		35,407
	71,446		Oceaneering International, Inc		1,877
	38,178	*	Oil States International, Inc		968
	271,671		Oneok, Inc		15,053
	26,237		Overseas Shipholding Group, Inc		69
	29,983	*	Pacific Ethanol, Inc		166
	10,734		Panhandle Oil and Gas, Inc (Class A)		255
	23,180	*	Par Pacific Holdings, Inc		482
	96,030	*	Parker Drilling Co		106
	167,421	*	Parsley Energy, Inc		4,410
	150,779		Patterson-UTI Energy, Inc		3,157
	78,916	e	PBF Energy, Inc		2,179
	47,717	*	PDC Energy, Inc		2,340
	35,218	*	Peabody Energy Corp		1,022

260

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,090	*,e	Penn Virginia Corp	$	403
	9,723	*	PHI, Inc		114
	314,605		Phillips 66		28,821
	42,944	*	Pioneer Energy Services Corp		110
	122,193		Pioneer Natural Resources Co		18,028
	17,508	*	ProPetro Holding Corp		251
	173,948	*	Questar Market Resources, Inc		1,491
	165,726		Range Resources Corp		3,243
	27,182	*	Renewable Energy Group, Inc		330
	15,559	*,e	Resolute Energy Corp		462
	4,186	*	Rex American Resources Corp		393
	122,249	*	Rice Energy, Inc		3,538
	9,601	*	RigNet, Inc		165
	32,471	*	Ring Energy, Inc		471
	83,867	*	Rowan Cos plc		1,078
	42,512	e	RPC, Inc		1,054
	95,255	*	RSP Permian, Inc		3,295
	31,286	*,e	Sanchez Energy Corp		151
	24,071	*	SandRidge Energy, Inc		484
	996,690		Schlumberger Ltd		69,529
	121,758		Scorpio Tankers, Inc		418
	11,768	*	SEACOR Holdings, Inc		543
	11,831	*	SEACOR Marine Holdings, Inc		185
	6,869	*,e	Select Energy Services, Inc		109
	48,551		SemGroup Corp		1,396
	45,041	e	Ship Finance International Ltd		653
	4,694	*	SilverBow Resources, Inc		115
	80,594		SM Energy Co		1,430
	12,316	*,e	Smart Sand, Inc		84
	6,855	*	Solaris Oilfield Infrastructure, Inc		119
	359,770	*	Southwestern Energy Co		2,198
	143,792	*	SRC Energy, Inc		1,390
	13,911	*	Stone Energy Corp		404
	111,107	*	Superior Energy Services		1,187
	141,390		Targa Resources Investments, Inc		6,688
	36,192	e	Teekay Corp		323
	85,424	e	Teekay Tankers Ltd (Class A)		138
	39,279	*,e	Tellurian, Inc		419
	26,063	*	Tesco Corp		142
	32,701	*	Tetra Technologies, Inc		94
	283,324	*,e	Transocean Ltd (NYSE)		3,049
	139,784	*	Ultra Petroleum Corp		1,212
	36,980	*	Unit Corp		761
	95,169	*,e	Uranium Energy Corp		131
	58,687	e	US Silica Holdings Inc		1,823
	322,602		Valero Energy Corp		24,818
	14,396	*	W&T Offshore, Inc		44
	643,511	*,e	Weatherford International Ltd		2,947
	260,821	*,e	Whiting Petroleum Corp		1,424
	13,341	*,e	WildHorse Resource Development Corp		178
	33,684	*	Willbros Group, Inc		108
	597,881		Williams Cos, Inc		17,942
	49,281		World Fuel Services Corp		1,671

261

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	284,313	*	WPX Energy, Inc	$	3,270
			TOTAL ENERGY		1,075,513
FOOD & STAPLES RETAILING - 1.3%
	19,849		Andersons, Inc		680
	27,395		Casey’s General Stores, Inc		2,998
	14,374	*	Chefs’ Warehouse Holdings, Inc		277
	735,822		CVS Health Corp		59,837
	10,217		Ingles Markets, Inc (Class A)		263
	656,633		Kroger Co		13,172
	6,410	*,e	Natural Grocers by Vitamin C		36
	50,163	*	Performance Food Group Co		1,417
	14,866		Pricesmart, Inc		1,327
	763,555	*,e	Rite Aid Corp		1,497
	17,661	*	Smart & Final Stores, Inc		139
	27,344		Spartan Stores, Inc		721
	96,073	*	Sprouts Farmers Market, Inc		1,803
	27,415	*	SUPERVALU, Inc		596
	355,913		Sysco Corp		19,201
	36,929	*	United Natural Foods, Inc		1,536
	96,385	*	US Foods Holding Corp		2,573
	4,843		Village Super Market (Class A)		120
	659,493		Walgreens Boots Alliance, Inc		50,926
	1,041,271		Wal-Mart Stores, Inc		81,365
	4,684		Weis Markets, Inc		204
			TOTAL FOOD & STAPLES RETAILING		240,688
FOOD, BEVERAGE & TOBACCO - 4.4%
	2,319		Alico, Inc		79
	1,395,060		Altria Group, Inc		88,475
	24,445	*,e	Amplify Snack Brands, Inc		173
	395,143		Archer Daniels Midland Co		16,798
	48,393	e	B&G Foods, Inc (Class A)		1,541
	63,616	*	Blue Buffalo Pet Products, Inc		1,804
	5,887	*,e	Boston Beer Co, Inc (Class A)		920
	38,532		Brown-Forman Corp		2,146
	126,267		Brown-Forman Corp (Class B)		6,856
	100,089		Bunge Ltd		6,952
	11,455	e	Calavo Growers, Inc		839
	22,629	*,e	Cal-Maine Foods, Inc		930
	128,062		Campbell Soup Co		5,996
	61,868	*,e	Castle Brands, Inc		83
	3,092		Coca-Cola Bottling Co Consolidated		667
	2,746,269		Coca-Cola Co		123,609
	291,579		ConAgra Foods, Inc		9,838
	116,668		Constellation Brands, Inc (Class A)		23,269
	315,170		Costco Wholesale Corp		51,779
	7,653	*	Craft Brewers Alliance, Inc		134
	118,243	*	Darling International, Inc		2,072
	65,223		Dean Foods Co		710
	132,077		Dr Pepper Snapple Group, Inc		11,685
	5,320	*	Farmer Bros Co		175
	128,238	e	Flowers Foods, Inc		2,412
	23,973		Fresh Del Monte Produce, Inc		1,090

262

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	15,781	*,e	Freshpet, Inc	$	247
	415,780		General Mills, Inc		21,521
	73,323	*	Hain Celestial Group, Inc		3,017
	100,289		Hershey Co		10,949
	193,543		Hormel Foods Corp		6,221
	57,996	*	Hostess Brands, Inc		792
	51,020		Ingredion, Inc		6,155
	10,369		J&J Snack Foods Corp		1,361
	78,341		J.M. Smucker Co		8,220
	5,780		John B. Sanfilippo & Son, Inc		389
	178,522		Kellogg Co		11,134
	433,800		Kraft Heinz Co		33,641
	104,074		Lamb Weston Holdings, Inc		4,880
	13,060		Lancaster Colony Corp		1,569
	19,323	*	Landec Corp		250
	3,603	*	Lifeway Foods, Inc		32
	8,386		Limoneira Co		194
	81,380		McCormick & Co, Inc		8,353
	9,193	e	MGP		557
	124,267		Molson Coors Brewing Co (Class B)		10,145
	1,052,965		Mondelez International, Inc		42,814
	297,103	*	Monster Beverage Corp		16,415
	8,574	e	National Beverage Corp		1,064
	15,084		Omega Protein Corp		251
	1,020,633		PepsiCo, Inc		113,729
	1,116,887		Philip Morris International, Inc		123,986
	39,140	*	Pilgrim’s Pride Corp		1,112
	85,273		Pinnacle Foods, Inc		4,875
	47,135	*	Post Holdings, Inc		4,161
	18,742	*	Primo Water Corp		222
	14,731		Sanderson Farms, Inc		2,379
	192		Seaboard Corp		865
	5,451	*	Seneca Foods Corp		188
	60,655		Snyder’s-Lance, Inc		2,313
	10,661	e	Tootsie Roll Industries, Inc		405
	40,066	*,e	TreeHouse Foods, Inc		2,714
	4,760	*	Turning Point Brands, Inc		81
	194,482		Tyson Foods, Inc (Class A)		13,701
	17,023		Universal Corp		975
	70,526	e	Vector Group Ltd		1,444
			TOTAL FOOD, BEVERAGE & TOBACCO		824,353
HEALTH CARE EQUIPMENT & SERVICES - 5.4%
	5,996	*,e	AAC Holdings, Inc		60
	16,111		Abaxis, Inc		719
	1,221,456		Abbott Laboratories		65,177
	28,689	*	Abiomed, Inc		4,837
	56,824	*,e	Acadia Healthcare Co, Inc		2,714
	58,290	*	Accuray, Inc		233
	20,426		Aceto Corp		229
	5,501	*	Addus HomeCare Corp		194
	233,919		Aetna Inc		37,195
	60,564	*	Alere, Inc		3,088

263

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	57,094	*	Align Technology, Inc	$	10,635
	133,589	*	Allscripts Healthcare Solutions, Inc		1,901
	9,240	*	Almost Family, Inc		496
	20,714	*	Amedisys, Inc		1,159
	6,596	*	American Renal Associates Holdings, Inc		99
	114,067		AmerisourceBergen Corp		9,439
	34,893	*	AMN Healthcare Services, Inc		1,595
	9,253		Analogic Corp		775
	26,107	*	Angiodynamics, Inc		446
	10,943	*	Anika Therapeutics, Inc		635
	104,354	*,e	Antares Pharma, Inc		338
	191,363		Anthem, Inc		36,336
	28,653	*,e	athenahealth, Inc		3,563
	22,609	*	AtriCure, Inc		506
	1,019		Atrion Corp		685
	18,090	*	AxoGen, Inc		350
	50,949		Bard (C.R.), Inc		16,329
	359,438		Baxter International, Inc		22,555
	161,425		Becton Dickinson & Co		31,631
	86,257	*,e	BioScrip, Inc		237
	19,708	*	BioTelemetry, Inc		650
	977,596	*	Boston Scientific Corp		28,517
	135,933	*	Brookdale Senior Living, Inc		1,441
	25,974		Cantel Medical Corp		2,446
	19,478	*	Capital Senior Living Corp		244
	228,142		Cardinal Health, Inc		15,267
	23,626	*	Cardiovascular Systems, Inc		665
	45,319	*	Castlight Health, Inc		195
	122,066	*	Centene Corp		11,812
	207,708	*	Cerner Corp		14,814
	71,510	*,e	Cerus Corp		195
	10,898		Chemed Corp		2,202
	177,544		Cigna Corp		33,190
	11,529	*	Civitas Solutions, Inc		213
	68,750	*,e	Community Health Systems, Inc		528
	8,700	e	Computer Programs & Systems, Inc		257
	27,401	*,e	ConforMIS, Inc		96
	19,875		Conmed Corp		1,043
	34,668		Cooper Cos, Inc		8,220
	55,618	*,e	Corindus Vascular Robotics, Inc		85
	7,512	*	Corvel Corp		409
	19,227	*	Cotiviti Holdings, Inc		692
	25,224	*	Cross Country Healthcare, Inc		359
	23,064	*	CryoLife, Inc		524
	10,004	*	Cutera, Inc		414
	442,128		Danaher Corp		37,926
	113,091	*	DaVita, Inc		6,716
	162,210		Dentsply Sirona, Inc		9,702
	60,646	*,e	DexCom, Inc		2,967
	34,269	*	Diplomat Pharmacy, Inc		710
	150,946	*	Edwards Lifesciences Corp		16,500
	59,131	*,e	Endologix, Inc		264
	35,447		Ensign Group, Inc		801
	8,941	*,e	Entellus Medical, Inc		165

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	84,226	*	Envision Healthcare Corp	$	3,786
	27,704	*,e	Evolent Health, Inc		493
	7,074	*	Exactech, Inc		233
	405,357	*	Express Scripts Holding Co		25,667
	4,418	*	FONAR Corp		135
	28,070	*,e	Genesis Health Care, Inc		33
	30,765	*	GenMark Diagnostics, Inc		296
	20,642	*,e	Glaukos Corp		681
	51,975	*	Globus Medical, Inc		1,545
	36,085	*	Haemonetics Corp		1,619
	33,829	*	Halyard Health, Inc		1,523
	213,849	*	HCA Holdings, Inc		17,020
	35,870	*	HealthEquity, Inc		1,814
	62,923		Healthsouth Corp		2,917
	18,780	*	HealthStream, Inc		439
	114,182	*	Henry Schein, Inc		9,362
	4,605	*	Heska Corp		406
	47,607		Hill-Rom Holdings, Inc		3,523
	60,877	*	HMS Holdings Corp		1,209
	199,868	*	Hologic, Inc		7,333
	104,089		Humana, Inc		25,359
	10,885	*	ICU Medical, Inc		2,023
	62,805	*	Idexx Laboratories, Inc		9,766
	12,244	*	Inogen Inc		1,164
	43,464	*,e	Inovalon Holdings, Inc		741
	41,898	*	Insulet Corp		2,308
	22,691	*	Integer Holding Corp		1,161
	44,740	*	Integra LifeSciences Holdings Corp		2,258
	26,339	*	Intuitive Surgical, Inc		27,547
	23,110	e	Invacare Corp		364
	9,800	*	iRhythm Technologies, Inc		508
	29,171	*	K2M Group Holdings, Inc		619
	61,383		Kindred Healthcare, Inc		417
	73,304	*	Laboratory Corp of America Holdings		11,067
	6,715		Landauer, Inc		452
	18,233	*	Lantheus Holdings, Inc		325
	9,523		LeMaitre Vascular, Inc		356
	11,372	*	LHC Group, Inc		807
	26,991	*	LifePoint Hospitals, Inc		1,563
	34,912	*	LivaNova plc		2,446
	16,763	*	Magellan Health Services, Inc		1,447
	32,408	*	Masimo Corp		2,805
	152,731		McKesson Corp		23,461
	40,701	*	Medidata Solutions, Inc		3,177
	66,129	*	MEDNAX, Inc		2,852
	983,969		Medtronic plc		76,523
	31,965		Meridian Bioscience, Inc		457
	35,220	*	Merit Medical Systems, Inc		1,492
	31,755	*	Molina Healthcare, Inc		2,183
	12,716	*,e	NantHealth, Inc		52
	7,753		National Healthcare Corp		485
	5,598		National Research Corp		211
	24,197	*	Natus Medical, Inc		907

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	26,800	*	Neogen Corp	$	2,076
	19,942	*	Nevro Corp		1,812
	41,426	*	Novocure Ltd		822
	36,380	*	NuVasive, Inc		2,018
	45,234	*	NxStage Medical, Inc		1,248
	6,699	*,e	Obalon Therapeutics, Inc		64
	26,681	*	Omnicell, Inc		1,362
	40,487	*	OraSure Technologies, Inc		911
	12,159	*	Orthofix International NV		575
	43,714		Owens & Minor, Inc		1,276
	14,688	*	Oxford Immunotec Global plc		247
	57,408		Patterson Cos, Inc		2,219
	21,136	*	Penumbra, Inc		1,909
	5,304	*	PetIQ, Inc		144
	22,536	*	PharMerica Corp		660
	33,935	*	Premier, Inc		1,105
	8,662	*	Providence Service Corp		468
	6,666	*,e	Pulse Biosciences, Inc		124
	37,773	*	Quality Systems, Inc		594
	98,348		Quest Diagnostics, Inc		9,209
	20,943	*	Quidel Corp		919
	18,147	*	Quotient Ltd		89
	72,154	*,e	R1 RCM, Inc		268
	25,914	*	RadNet, Inc		299
	99,909		Resmed, Inc		7,689
	37,335	*,e	Rockwell Medical, Inc		320
	38,631	*	RTI Biologics, Inc		176
	77,335	*	Select Medical Holdings Corp		1,485
	10,185	*,e	Sientra, Inc		157
	7,680		Simulations Plus, Inc		119
	26,141	*	Staar Surgical Co		325
	59,349		STERIS plc		5,246
	245,300		Stryker Corp		34,838
	13,353	*,e	Surgery Partners, Inc		138
	10,275	*	SurModics, Inc		319
	6,560	*	Tabula Rasa HealthCare, Inc		175
	6,719	*	Tactile Systems Technology, Inc		208
	38,788	*,e	Teladoc, Inc		1,286
	32,171		Teleflex, Inc		7,784
	59,665	*,e	Tenet Healthcare Corp		980
	26,395	*	Tivity Health, Inc		1,077
	18,039	*	Triple-S Management Corp (Class B)		427
	685,403		UnitedHealth Group, Inc		134,236
	62,113		Universal Health Services, Inc (Class B)		6,891
	9,158		US Physical Therapy, Inc		563
	2,349		Utah Medical Products, Inc		173
	27,229	*	Varex Imaging Corp		921
	65,944	*	Varian Medical Systems, Inc		6,598
	77,809	*	Veeva Systems, Inc		4,389
	19,827	*,e	ViewRay, Inc		114
	11,543	*,e	Viveve Medical, Inc		61
	20,093	*	Vocera Communications, Inc		630
	31,751	*	WellCare Health Plans, Inc		5,453
	51,937		West Pharmaceutical Services, Inc		4,999

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	76,096	*	Wright Medical Group NV	$	1,969
	145,073		Zimmer Holdings, Inc		16,987
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,018,873
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
	7,431	*	Central Garden & Pet Co		289
	24,471	*	Central Garden and Pet Co (Class A)		910
	178,798		Church & Dwight Co, Inc		8,663
	93,017		Clorox Co		12,270
	617,749		Colgate-Palmolive Co		45,003
	333,432		Coty, Inc		5,512
	41,449	*	Edgewell Personal Care Co		3,016
	15,146	*,e	elf Beauty, Inc		341
	44,546		Energizer Holdings, Inc		2,051
	157,076		Estee Lauder Cos (Class A)		16,939
	48,475	*,e	Herbalife Ltd		3,288
	81,882	*	HRG Group, Inc		1,278
	12,258		Inter Parfums, Inc		506
	255,447		Kimberly-Clark Corp		30,061
	7,966		Medifast, Inc		473
	5,685	e	Natural Health Trends Corp		136
	5,868		Nature’s Sunshine Products, Inc		59
	36,417		Nu Skin Enterprises, Inc (Class A)		2,239
	3,981		Oil-Dri Corp of America		195
	6,476	e	Orchids Paper Products Co		91
	1,832,092		Procter & Gamble Co		166,684
	8,319	*,e	Revlon, Inc (Class A)		204
	17,796		Spectrum Brands, Inc		1,885
	8,349	*	USANA Health Sciences, Inc		482
	9,183		WD-40 Co		1,028
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		303,603
INSURANCE - 4.2%
	278,543		Aflac, Inc		22,671
	10,673	*	Alleghany Corp		5,913
	262,740		Allstate Corp		24,148
	32,424	*	AMBAC Financial Group, Inc		560
	61,796		American Equity Investment Life Holding Co		1,797
	49,160		American Financial Group, Inc		5,086
	648,105		American International Group, Inc		39,787
	5,469		American National Insurance Co		646
	13,468		Amerisafe, Inc		784
	61,882	e	Amtrust Financial Services, Inc		833
	188,089		Aon plc		27,480
	82,527	*	Arch Capital Group Ltd		8,129
	20,906		Argo Group International Holdings Ltd		1,286
	127,528		Arthur J. Gallagher & Co		7,849
	43,239		Aspen Insurance Holdings Ltd		1,747
	38,716		Assurant, Inc		3,698
	87,044		Assured Guaranty Ltd		3,286
	77,195	*	Athene Holding Ltd		4,156
	8,461	*	Atlas Financial Holdings, Inc		160
	58,873		Axis Capital Holdings Ltd		3,374

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,904		Baldwin & Lyons, Inc (Class B)	$	156
	1,378,010	*	Berkshire Hathaway, Inc (Class B)		252,617
	4,749		Blue Capital Reinsurance Holdings Ltd		78
	50,784	*	Brighthouse Financial, Inc		3,088
	83,972		Brown & Brown, Inc		4,047
	333,970		Chubb Ltd		47,607
	110,535		Cincinnati Financial Corp		8,464
	32,879	*,e	Citizens, Inc (Class A)		242
	17,827		CNA Financial Corp		896
	123,157		Conseco, Inc		2,874
	11,609		Crawford & Co (Class B)		139
	7,812		Donegal Group, Inc (Class A)		126
	11,930	*	eHealth, Inc		285
	6,754		EMC Insurance Group, Inc		190
	23,170		Employers Holdings, Inc		1,053
	8,013	*	Enstar Group Ltd		1,782
	17,977		Erie Indemnity Co (Class A)		2,167
	29,074		Everest Re Group Ltd		6,640
	7,071		FBL Financial Group, Inc (Class A)		527
	10,321		Federated National Holding Co		161
	8,380	e	Fidelity & Guaranty Life		260
	77,945		First American Financial Corp		3,895
	187,960		FNF Group		8,921
	339,186	*	Genworth Financial, Inc (Class A)		1,306
	6,929	*	Global Indemnity Ltd		294
	20,683	*	Greenlight Capital Re Ltd (Class A)		448
	7,438	*	Hallmark Financial Services		86
	30,826		Hanover Insurance Group, Inc		2,988
	263,176		Hartford Financial Services Group, Inc		14,588
	5,533	e	HCI Group, Inc		212
	8,194	*,e	Health Insurance Innovations, Inc		119
	18,411	e	Heritage Insurance Holdings, Inc		243
	29,606		Horace Mann Educators Corp		1,165
	5,237		Independence Holding Co		132
	7,783		Infinity Property & Casualty Corp		733
	1,119		Investors Title Co		200
	12,617		James River Group Holdings Ltd		523
	28,739		Kemper Corp		1,523
	7,037		Kingstone Cos, Inc		115
	10,502		Kinsale Capital Group, Inc		453
	161,167		Lincoln National Corp		11,842
	199,943		Loews Corp		9,569
	48,335		Maiden Holdings Ltd		384
	9,774	*	Markel Corp		10,438
	370,918		Marsh & McLennan Cos, Inc		31,087
	91,305	*	MBIA, Inc		794
	20,342		Mercury General Corp		1,153
	641,691		Metlife, Inc		33,336
	35,673		National General Holdings Corp		682
	1,551		National Western Life Group, Inc		541
	15,353		Navigators Group, Inc		896
	7,308	*,e	NI Holdings, Inc		131
	172,585		Old Republic International Corp		3,398
	33,067		Primerica, Inc		2,697

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	192,056		Principal Financial Group	$	12,357
	37,307		ProAssurance Corp		2,039
	418,191		Progressive Corp		20,249
	306,422		Prudential Financial, Inc		32,579
	45,889		Reinsurance Group of America, Inc (Class A)		6,403
	28,612		RenaissanceRe Holdings Ltd		3,867
	27,824		RLI Corp		1,596
	11,093		Safety Insurance Group, Inc		846
	42,211		Selective Insurance Group, Inc		2,273
	11,039		State Auto Financial Corp		289
	21,827		State National Cos, Inc		458
	15,315		Stewart Information Services Corp		578
	51,271	*	Third Point Reinsurance Ltd		800
	82,370		Torchmark Corp		6,597
	201,640		Travelers Cos, Inc		24,705
	15,868	*,e	Trupanion, Inc		419
	16,104		United Fire & Casualty Co		738
	12,682		United Insurance Holdings Corp		207
	22,402	e	Universal Insurance Holdings, Inc		515
	163,857		UnumProvident Corp		8,378
	55,625		Validus Holdings Ltd		2,737
	68,120		W.R. Berkley Corp		4,546
	3,033		White Mountains Insurance Group Ltd		2,599
	91,239		Willis Towers Watson plc		14,072
	182,864		XL Group Ltd		7,214
			TOTAL INSURANCE		798,742
MATERIALS - 3.4%
	20,886		A. Schulman, Inc		713
	15,014	e	Advanced Emissions Solutions, Inc		165
	22,501	*	AdvanSix, Inc		894
	16,379	*	AgroFresh Solutions, Inc		115
	153,981		Air Products & Chemicals, Inc		23,285
	228,124	*,e	AK Steel Holding Corp		1,275
	79,222		Albemarle Corp		10,799
	133,728		Alcoa Corp		6,234
	78,013	e	Allegheny Technologies, Inc		1,864
	20,501		American Vanguard Corp		469
	4,440		Ampco-Pittsburgh Corp		77
	43,141		Aptargroup, Inc		3,723
	13,288		Ardagh Group S.A.		284
	43,629		Ashland Global Holdings, Inc		2,853
	62,843		Avery Dennison Corp		6,180
	153,684	*	Axalta Coating Systems Ltd		4,445
	23,190		Balchem Corp		1,885
	248,833		Ball Corp		10,277
	66,316		Bemis Co, Inc		3,022
	91,892	*	Berry Plastics Group, Inc		5,206
	27,727	*	Boise Cascade Co		968
	43,691		Cabot Corp		2,438
	36,582		Calgon Carbon Corp		783
	34,250		Carpenter Technology Corp		1,645
	100,193		Celanese Corp (Series A)		10,447

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	36,798	*	Century Aluminum Co	$	610
	169,311		CF Industries Holdings, Inc		5,953
	5,158		Chase Corp		575
	131,764		Chemours Co		6,669
	11,678	*	Clearwater Paper Corp		575
	213,712	*	Cleveland-Cliffs, Inc		1,528
	23,538	*	Codexis, Inc		157
	119,550	*	Coeur Mining, Inc		1,099
	83,562		Commercial Metals Co		1,590
	22,798	e	Compass Minerals International, Inc		1,480
	5,367		Core Molding Technologies, Inc		118
	89,223	*	Crown Holdings, Inc		5,328
	8,022		Deltic Timber Corp		709
	45,300		Domtar Corp		1,966
	1,671,088		DowDuPont, Inc		115,689
	34,107		Eagle Materials, Inc		3,639
	97,831		Eastman Chemical Co		8,853
	185,102		Ecolab, Inc		23,806
	60,041	*	Ferro Corp		1,339
	47,286	*,m	Ferroglobe plc		0
	40,724	*,e	Flotek Industries, Inc		189
	96,083		FMC Corp		8,581
	977,694	*	Freeport-McMoRan Copper & Gold, Inc (Class B)		13,727
	17,819		FutureFuel Corp		280
	48,995	*	GCP Applied Technologies, Inc		1,504
	39,231	*,e	Gold Resource Corp		147
	224,514		Graphic Packaging Holding Co		3,132
	3,993		Greif, Inc		257
	18,292		Greif, Inc (Class A)		1,071
	34,325		H.B. Fuller Co		1,993
	1,617	*	Handy & Harman Ltd		53
	7,923		Hawkins, Inc		323
	9,402		Haynes International, Inc		338
	283,752		Hecla Mining Co		1,424
	143,018		Huntsman Corp		3,922
	30,403	*	Ingevity Corp		1,899
	14,138		Innophos Holdings, Inc		695
	17,291		Innospec, Inc		1,066
	56,669		International Flavors & Fragrances, Inc		8,099
	296,653		International Paper Co		16,856
	67,354	*,e	Intrepid Potash, Inc		294
	12,178		Kaiser Aluminum Corp		1,256
	62,146		Kapstone Paper and Packaging Corp		1,335
	125,028	*	Klondex Mines Ltd		455
	7,156		KMG Chemicals, Inc		393
	15,231	*	Koppers Holdings, Inc		703
	21,628	*	Kraton Polymers LLC		875
	14,288		Kronos Worldwide, Inc		326
	104,108	*	Louisiana-Pacific Corp		2,819
	15,120	*,e	LSB Industries, Inc		120
	226,878		LyondellBasell Industries AF S.C.A		22,472
	45,253		Martin Marietta Materials, Inc		9,332
	14,781		Materion Corp		638
	25,740		Minerals Technologies, Inc		1,819

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	316,644		Monsanto Co	$	37,940
	255,239		Mosaic Co		5,511
	18,118		Myers Industries, Inc		380
	10,909		Neenah Paper, Inc		933
	5,318		NewMarket Corp		2,264
	382,185		Newmont Mining Corp		14,336
	224,015		Nucor Corp		12,554
	119,149		Olin Corp		4,081
	6,559		Olympic Steel, Inc		144
	32,453	*	Omnova Solutions, Inc		355
	117,357	*	Owens-Illinois, Inc		2,953
	66,961		Packaging Corp of America		7,679
	32,454		PH Glatfelter Co		631
	159,281	*	Platform Specialty Products Corp		1,776
	58,890		PolyOne Corp		2,357
	184,896		PPG Industries, Inc		20,091
	206,244		Praxair, Inc		28,821
	9,399		Quaker Chemical Corp		1,391
	31,957	e	Rayonier Advanced Materials, Inc		438
	50,286		Reliance Steel & Aluminum Co		3,830
	47,285		Royal Gold, Inc		4,068
	94,890		RPM International, Inc		4,872
	8,418	*	Ryerson Holding Corp		91
	19,399		Schnitzer Steel Industries, Inc (Class A)		546
	22,501		Schweitzer-Mauduit International, Inc		933
	30,897		Scotts Miracle-Gro Co (Class A)		3,007
	139,878		Sealed Air Corp		5,976
	31,510		Sensient Technologies Corp		2,424
	58,928		Sherwin-Williams Co		21,099
	53,846		Silgan Holdings, Inc		1,585
	69,011		Sonoco Products Co		3,482
	58,429		Southern Copper Corp (NY)		2,323
	168,984		Steel Dynamics, Inc		5,825
	14,267		Stepan Co		1,194
	77,273	*	Summit Materials, Inc		2,475
	48,451	*	SunCoke Energy, Inc		443
	207,059		Tahoe Resources, Inc		1,091
	29,755	*	TimkenSteel Corp		491
	15,246	*	Trecora Resources		203
	19,671		Tredegar Corp		354
	31,587		Trinseo S.A.		2,119
	47,159		Tronox Ltd		995
	4,630	*	UFP Technologies, Inc		130
	1,357		United States Lime & Minerals, Inc		114
	126,215	e	United States Steel Corp		3,239
	11,048	*,e	US Concrete, Inc		843
	16,839		Valhi, Inc		41
	145,388		Valvoline, Inc		3,409
	22,885	*	Verso Corp		116
	94,624		Vulcan Materials Co		11,317
	11,178		Warrior Met Coal, Inc		263
	24,489		Westlake Chemical Corp		2,035
	178,429		WestRock Co		10,122

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	31,289	*	Worthington Industries, Inc	$	1,439
	48,393		WR Grace & Co		3,492
			TOTAL MATERIALS		640,743
MEDIA - 2.7%
	39,663	e	AMC Entertainment Holdings, Inc		583
	38,893	*	AMC Networks, Inc		2,274
	3,422		Cable One, Inc		2,471
	257,008		CBS Corp (Class B)		14,906
	57,360	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		232
	137,509	*	Charter Communications, Inc		49,974
	76,895		Cinemark Holdings, Inc		2,784
	28,047		Clear Channel Outdoor Holdings, Inc (Class A)		130
	3,383,063		Comcast Corp (Class A)		130,180
	772	*,e	Daily Journal Corp		169
	111,235	*,e	Discovery Communications, Inc (Class A)		2,368
	152,146	*	Discovery Communications, Inc (Class C)		3,082
	158,597	*	DISH Network Corp (Class A)		8,601
	11,002		Emerald Expositions Events, Inc		256
	18,269		Entercom Communications Corp (Class A)		209
	50,932		Entravision Communications Corp (Class A)		290
	20,620	*,e	Eros International plc		295
	42,935	*	EW Scripps Co (Class A)		821
	86,657		Gannett Co, Inc		780
	34,321	*,e	Global Eagle Entertainment, Inc		117
	46,930	*	Gray Television, Inc		737
	11,523	*	Hemisphere Media Group, Inc		138
	42,177	*	Imax Corp		955
	281,435		Interpublic Group of Cos, Inc		5,851
	32,444		John Wiley & Sons, Inc (Class A)		1,736
	7,655	*	Liberty Braves Group (Class A)		194
	25,374	*	Liberty Braves Group (Class C)		641
	17,476	*	Liberty Broadband Corp (Class A)		1,646
	74,265	*	Liberty Broadband Corp (Class C)		7,077
	15,619	*,e	Liberty Media Group (Class A)		570
	123,792	*	Liberty Media Group (Class C)		4,715
	64,398	*	Liberty SiriusXM Group (Class A)		2,698
	129,903	*	Liberty SiriusXM Group (Class C)		5,439
	37,150	*	Lions Gate Entertainment Corp (Class A)		1,243
	71,817	*	Lions Gate Entertainment Corp (Class B)		2,283
	96,974	*	Live Nation, Inc		4,223
	9,932	*,e	Loral Space & Communications, Inc		492
	13,200	*	Madison Square Garden Co		2,826
	37,799		MDC Partners, Inc		416
	27,920		Meredith Corp		1,550
	43,336	*	MSG Networks, Inc		919
	46,358		National CineMedia, Inc		324
	36,183		New Media Investment Group, Inc		535
	89,935		New York Times Co (Class A)		1,763
	268,456		News Corp		3,560
	86,319		News Corp (Class B)		1,178
	31,898		Nexstar Broadcasting Group, Inc (Class A)		1,987
	166,659		Omnicom Group, Inc		12,344

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,373	*	Reading International, Inc	$	195
	81,985	e	Regal Entertainment Group (Class A)		1,312
	3,161		Saga Communications, Inc		144
	7,701		Salem Communications		51
	19,984		Scholastic Corp		743
	61,710		Scripps Networks Interactive (Class A)		5,300
	51,858	e	Sinclair Broadcast Group, Inc (Class A)		1,662
	1,052,096	e	Sirius XM Holdings, Inc		5,808
	156,124		TEGNA, Inc		2,081
	551,243		Time Warner, Inc		56,475
	71,820		Time, Inc		970
	5,104	*	Townsquare Media, Inc		51
	52,414		Tribune Co		2,142
	15,283	*	tronc, Inc		222
	752,184		Twenty-First Century Fox, Inc		19,843
	314,752		Twenty-First Century Fox, Inc (Class B)		8,117
	7,706	e	Viacom, Inc		283
	254,328		Viacom, Inc (Class B)		7,081
	1,118,152		Walt Disney Co		110,216
	15,148	*	WideOpenWest, Inc		228
	27,047		World Wrestling Entertainment, Inc (Class A)		637
			TOTAL MEDIA		512,123
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.5%
	1,146,930		AbbVie, Inc		101,916
	18,729	*,e	Abeona Therapeutics, Inc		319
	70,913	*	Acadia Pharmaceuticals, Inc		2,671
	18,841	*,e	Accelerate Diagnostics, Inc		423
	22,847	*	Acceleron Pharma, Inc		853
	21,294	*,e	Achaogen, Inc		340
	86,253	*	Achillion Pharmaceuticals, Inc		387
	14,790	*	Aclaris Therapeutics, Inc		382
	31,389	*	Acorda Therapeutics, Inc		742
	12,735	*,e	Adamas Pharmaceuticals, Inc		270
	26,641	*,e	Aduro Biotech, Inc		284
	26,299	*,e	Advaxis, Inc		110
	21,807	*,e	Aerie Pharmaceuticals, Inc		1,060
	56,789	*,e	Agenus, Inc		250
	232,407		Agilent Technologies, Inc		14,921
	30,271	*	Agios Pharmaceuticals, Inc		2,021
	25,712	*,e	Aimmune Therapeutics, Inc		637
	10,845	*,e	Akcea Therapeutics, Inc		300
	26,366	*	Akebia Therapeutics, Inc		519
	64,824	*	Akorn, Inc		2,151
	34,164	*	Alder Biopharmaceuticals, Inc		418
	156,822	*	Alexion Pharmaceuticals, Inc		22,001
	110,420	*	Alkermes plc		5,614
	242,582		Allergan plc		49,717
	54,942	*	Alnylam Pharmaceuticals, Inc		6,455
	25,493	*	AMAG Pharmaceuticals, Inc		470
	530,163		Amgen, Inc		98,849
	98,916	*	Amicus Therapeutics, Inc		1,492
	25,774	*	Amphastar Pharmaceuticals, Inc		461

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	3,802	*	AnaptysBio, Inc	$	133
	23,093	*,e	Anavex Life Sciences Corp		96
	5,767	*	ANI Pharmaceuticals, Inc		303
	29,050	*,e	Aratana Therapeutics, Inc		178
	22,973	*	Ardelyx, Inc		129
	23,307	*	Arena Pharmaceuticals, Inc		594
	126,892	*,e	Array Biopharma, Inc		1,561
	10,043	*	Assembly Biosciences, Inc		351
	17,138	*,e	Asterias Biotherapeutics, Inc		58
	17,368	*,e	Atara Biotherapeutics, Inc		287
	52,762	*,e	Athersys, Inc		109
	10,702	*	Audentes Therapeutics, Inc		300
	14,714	*	Avexis, Inc		1,423
	21,434	*,e	Axovant Sciences Ltd		147
	19,950	*,e	Bellicum Pharmaceuticals, Inc		230
	53,741	*	BioCryst Pharmaceuticals, Inc		282
	153,011	*	Biogen Idec, Inc		47,911
	7,175	*	Biohaven Pharmaceutical Holding Co Ltd		268
	126,546	*	BioMarin Pharmaceutical, Inc		11,778
	15,362	*	Bio-Rad Laboratories, Inc (Class A)		3,414
	3,856	*	Biospecifics Technologies Corp		179
	25,935		Bio-Techne Corp		3,135
	56,186	*,e	BioTime, Inc		160
	78,809	*	Bioverativ, Inc		4,498
	29,677	*	Bluebird Bio, Inc		4,076
	28,144	*	Blueprint Medicines Corp		1,961
	1,190,483		Bristol-Myers Squibb Co		75,882
	76,600		Bruker BioSciences Corp		2,279
	21,820	*	Calithera Biosciences, Inc		344
	5,849	*,e	Calyxt, Inc		143
	23,380	*	Cambrex Corp		1,286
	19,366	*,e	Cara Therapeutics Inc		265
	26,295	*	Cascadian Therapeutics, Inc		108
	90,837	*	Catalent, Inc		3,626
	50,782	*	Catalyst Pharmaceuticals, Inc		128
	559,444	*	Celgene Corp		81,578
	73,063	*	Celldex Therapeutics, Inc		209
	30,752	*,e	Cempra, Inc		100
	34,386	*	Charles River Laboratories International, Inc		3,714
	18,304	*	ChemoCentryx, Inc		136
	30,594	*	Chimerix, Inc		161
	14,633	*,e	Clearside Biomedical, Inc		128
	28,355	*	Clovis Oncology, Inc		2,336
	27,864	*	Coherus Biosciences, Inc		372
	16,286	*,e	Collegium Pharmaceutical, Inc		171
	11,239	*	Concert Pharmaceuticals Inc		166
	18,652	*,e	Contatus Pharmaceuticals, Inc		102
	32,828	*,e	Corbus Pharmaceuticals Holdings, Inc		235
	65,375	*	Corcept Therapeutics, Inc		1,262
	15,295	*,e	Corium International, Inc		169
	6,717	*	Corvus Pharmaceuticals, Inc		107
	84,568	*	Curis, Inc		126
	30,153	*	Cytokinetics, Inc		437
	21,311	*	CytomX Therapeutics, Inc		387

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	44,278	*,e	Depomed, Inc	$	256
	27,246	*	Dermira, Inc		736
	84,059	*	Durect Corp		149
	35,256	*,e	Dynavax Technologies Corp		758
	6,368	*,e	Eagle Pharmaceuticals, Inc		380
	12,202	*,e	Edge Therapeutics, Inc		131
	24,325	*,e	Editas Medicine, Inc		584
	705,207		Eli Lilly & Co		60,323
	24,015	*	Emergent Biosolutions, Inc		971
	11,786	*	Enanta Pharmaceuticals, Inc		552
	161,263	*	Endo International plc		1,381
	27,058	*	Enzo Biochem, Inc		283
	29,818	*	Epizyme, Inc		568
	9,694	*,e	Esperion Thereapeutics, Inc		486
	79,297	*	Exact Sciences Corp		3,736
	209,243	*	Exelixis, Inc		5,070
	24,636	*	Fate Therapeutics, Inc		98
	42,613	*	FibroGen, Inc		2,293
	19,800	*	Five Prime Therapeutics, Inc		810
	19,463	*,e	Flexion Therapeutics Inc		471
	20,851	*	Fluidigm Corp		105
	24,951	*,e	Fortress Biotech, Inc		110
	10,540	*,e	Foundation Medicine, Inc		424
	5,695	*,e	G1 Therapeutics, Inc		142
	20,661	*,e	Genocea Biosciences Inc		30
	14,071	*	Genomic Health, Inc		452
	114,325	*,e	Geron Corp		249
	933,593		Gilead Sciences, Inc		75,640
	26,450	*	Global Blood Therapeutics, Inc		821
	79,065	*	Halozyme Therapeutics, Inc		1,373
	32,353	*,e	Heron Therapeutics, Inc		522
	118,653	*	Horizon Pharma plc		1,505
	62,986	*,e	Idera Pharmaceuticals, Inc		140
	35,767	*	Ignyta, Inc		442
	105,196	*	Illumina, Inc		20,955
	8,484	*,e	Immune Design Corp		88
	65,469	*,e	Immunogen, Inc		501
	69,521	*,e	Immunomedics, Inc		972
	53,162	*	Impax Laboratories, Inc		1,079
	39,474	*	INC Research Holdings, Inc		2,064
	122,282	*	Incyte Corp		14,275
	55,553	*	Innoviva, Inc		784
	49,160	*,e	Inovio Pharmaceuticals, Inc		312
	45,452	*	Insmed, Inc		1,419
	17,481	*,e	Insys Therapeutics, Inc		155
	10,757	*,e	Intellia Therapeutics, Inc		267
	12,921	*,e	Intercept Pharmaceuticals, Inc		750
	18,642	*	Intersect ENT, Inc		581
	25,348	*	Intra-Cellular Therapies, Inc		400
	39,434	*,e	Intrexon Corp		750
	27,249	*,e	Invitae Corp		255
	89,084	*	Ionis Pharmaceuticals, Inc		4,517
	34,093	*	Iovance Biotherapeutics, Inc		264

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	95,014	*,e	Ironwood Pharmaceuticals, Inc	$	1,498
	1,932,611		Johnson & Johnson		251,259
	4,482	*,e	Jounce Therapeutics, Inc		70
	46,335	*	Juno Therapeutics, Inc		2,079
	5,857	*	Kala Pharmaceuticals, Inc		134
	23,632	*	Karyopharm Therapeutics, Inc		259
	59,203	*,e	Keryx Biopharmaceuticals, Inc		420
	15,620	*	Kindred Biosciences Inc		123
	35,215	*	Kite Pharma, Inc		6,332
	10,057	*,e	Kura Oncology, Inc		150
	12,410	*,e	La Jolla Pharmaceutical Co		432
	19,506	*,e	Lannett Co, Inc		360
	30,110	*,e	Lexicon Pharmaceuticals, Inc		370
	14,752	*,e	Ligand Pharmaceuticals, Inc (Class B)		2,008
	14,417	*	Loxo Oncology, Inc		1,328
	31,134		Luminex Corp		633
	23,459	*	MacroGenics, Inc		434
	72,043	*	Mallinckrodt plc		2,692
	40,487	*,e	Matinas BioPharma Holdings, Inc		53
	49,764	*,e	Medicines Co		1,843
	22,034	*,e	MediciNova, Inc		140
	5,025	*	Medpace Holdings, Inc		160
	1,967,394		Merck & Co, Inc		125,972
	9,058	e	Merrimack Pharmaceuticals, Inc		132
	18,355	*	Mettler-Toledo International, Inc		11,493
	75,041	*,e	MiMedx Group, Inc		891
	18,922	*	Minerva Neurosciences, Inc		144
	10,019	*	Miragen Therapeutics, Inc		92
	53,355	*	Momenta Pharmaceuticals, Inc		987
	383,641	*	Mylan NV		12,035
	11,927	*	MyoKardia, Inc		511
	46,607	*	Myriad Genetics, Inc		1,686
	10,862	*	NanoString Technologies, Inc		176
	22,232	*,e	NantKwest, Inc		122
	19,889	*	Natera, Inc		256
	107,133	*	Nektar Therapeutics		2,571
	38,546	*,e	NeoGenomics, Inc		429
	10,102	*,e	Neos Therapeutics, Inc		92
	63,342	*	Neurocrine Biosciences, Inc		3,882
	14,869	*,e	NewLink Genetics Corp		151
	197,987	*,e	Novavax, Inc		226
	10,969	*	Novelion Therapeutics, Inc		77
	19,320	*	Nymox Pharmaceutical Corp		74
	13,115	*	Ocular Therapeutix, Inc		81
	29,642	*,e	Omeros Corp		641
	238,337	*,e	Opko Health, Inc		1,635
	60,008	*,e	Organovo Holdings, Inc		133
	18,209	*	Otonomy, Inc		59
	4,292	*,e	Ovid therapeutics, Inc		37
	55,440	*,e	Pacific Biosciences of California, Inc		291
	28,237	*	Pacira Pharmaceuticals, Inc		1,060
	17,330	*	Paratek Pharmaceuticals, Inc		435
	36,119	*	Parexel International Corp		3,181
	120,653	*	PDL BioPharma, Inc		409

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	78,986		PerkinElmer, Inc	$	5,448
	92,108		Perrigo Co plc		7,797
	4,230,935		Pfizer, Inc		151,044
	12,927		Phibro Animal Health Corp		479
	24,527	*	Pieris Pharmaceuticals, Inc		141
	36,240	*	Portola Pharmaceuticals, Inc		1,958
	28,079	*	PRA Health Sciences, Inc		2,139
	38,233	*	Prestige Brands Holdings, Inc		1,915
	51,583	*,e	Progenics Pharmaceuticals, Inc		380
	4,860	*,e	Protagonist Therapeutics, Inc		86
	27,579	*,e	Prothena Corp plc		1,786
	25,096	*	PTC Therapeutics, Inc		502
	20,506	*	Puma Biotechnology, Inc		2,456
	166,375		QIAGEN NV		5,241
	91,178	*	Quintiles Transnational Holdings, Inc		8,668
	8,205	*	Ra Pharmaceuticals, Inc		120
	27,010	*,e	Radius Health, Inc		1,041
	6,375	*,e	Reata Pharmaceuticals, Inc		198
	8,471	*,e	Recro Pharma, Inc		76
	56,542	*	Regeneron Pharmaceuticals, Inc		25,281
	19,715	*	REGENXBIO, Inc		650
	24,847	*	Repligen Corp		952
	25,726	*	Retrophin, Inc		640
	15,494	*	Revance Therapeutics, Inc		427
	86,450	*	Rigel Pharmaceuticals, Inc		220
	24,925	*,e	Sage Therapeutics, Inc		1,553
	52,234	*	Sangamo Biosciences, Inc		783
	37,245	*,e	Sarepta Therapeutics, Inc		1,689
	38,141	*	Sciclone Pharmaceuticals, Inc		427
	70,004	*	Seattle Genetics, Inc		3,809
	8,829	*,e	Selecta Biosciences, Inc		161
	13,345	*,e	Seres Therapeutics, Inc		214
	16,648	*	Spark Therapeutics, Inc		1,484
	56,104	*	Spectrum Pharmaceuticals, Inc		789
	12,168	*,e	Stemline Therapeutics, Inc		135
	14,983	*,e	Strongbridge Biopharma plc		103
	18,349	*,e	Sucampo Pharmaceuticals, Inc (Class A)		216
	34,621	*	Supernus Pharmaceuticals, Inc		1,385
	6,983	*	Syndax Pharmaceuticals, Inc		82
	164,107	*,e	Synergy Pharmaceuticals, Inc		476
	9,466	*,e	Syros Pharmaceuticals, Inc		139
	29,885	*,e	Teligent, Inc		201
	26,872	*,e	TESARO, Inc		3,469
	26,726	*	Tetraphase Pharmaceuticals, Inc		183
	34,724	*,e	TG Therapeutics, Inc		411
	114,084	*,e	TherapeuticsMD, Inc		603
	29,259	*,e	Theravance Biopharma, Inc		1,002
	287,652		Thermo Fisher Scientific, Inc		54,424
	6,159	*	Tocagen, Inc		77
	32,080	*	Trevena, Inc		82
	28,669	*	Ultragenyx Pharmaceutical, Inc		1,527
	32,107	*	United Therapeutics Corp		3,763

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	31,395	*	Vanda Pharmaceuticals, Inc	$	562
	17,356	*,e	VBI Vaccines, Inc		67
	16,367	*	Veracyte, Inc		144
	23,940	*,e	Versartis, Inc		59
	179,329	*	Vertex Pharmaceuticals, Inc		27,265
	8,673	*,e	Voyager Therapeutics, Inc		179
	61,736	*	VWR Corp		2,044
	55,014	*	Waters Corp		9,876
	8,910	*	WaVe Life Sciences Pte Ltd		194
	8,356	*,e	XBiotech, Inc		36
	27,098	*	Xencor Inc		621
	90,754	*,e	ZIOPHARM Oncology, Inc		557
	354,166		Zoetis, Inc		22,582
	17,421	*	Zogenix, Inc		611
	7,989	*,e	Zynerba Pharmaceuticals, Inc		67
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,594,364
REAL ESTATE - 4.0%
	60,331		Acadia Realty Trust		1,727
	18,415		Agree Realty Corp		904
	33,490		Alexander & Baldwin, Inc		1,552
	1,329		Alexander’s, Inc		564
	64,573		Alexandria Real Estate Equities, Inc		7,682
	8,343	*,e	Altisource Portfolio Solutions S.A.		216
	37,147		Altisource Residential Corp		413
	28,646		American Assets Trust,Inc		1,139
	96,842		American Campus Communities, Inc		4,276
	164,177		American Homes 4 Rent		3,564
	304,657		American Tower Corp		41,641
	111,644		Apartment Investment & Management Co (Class A)		4,897
	149,114		Apple Hospitality REIT, Inc		2,820
	31,681		Armada Hoffler Properties, Inc		438
	20,771		Ashford Hospitality Prime, Inc		197
	56,474		Ashford Hospitality Trust, Inc		377
	7,072	*	AV Homes, Inc		121
	99,126		AvalonBay Communities, Inc		17,686
	16,903		Bluerock Residential Growth REIT, Inc		187
	110,916		Boston Properties, Inc		13,629
	121,360		Brandywine Realty Trust		2,123
	218,369		Brixmor Property Group, Inc		4,105
	61,667		Camden Property Trust		5,639
	50,740		CareTrust REIT, Inc		966
	29,192		CatchMark Timber Trust Inc		368
	124,137	e	CBL & Associates Properties, Inc		1,042
	211,335	*	CBRE Group, Inc		8,005
	62,949		Cedar Realty Trust, Inc		354
	28,285		Chatham Lodging Trust		603
	40,024		Chesapeake Lodging Trust		1,079
	21,833		City Office REIT, Inc		301
	10,462	e	Clipper Realty, Inc		112
	390,838		Colony NorthStar, Inc		4,909
	83,894		Columbia Property Trust, Inc		1,826
	9,586		Community Healthcare Trust, Inc		258
	3,235		Consolidated-Tomoka Land Co		194

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	86,682		CoreCivic, Inc	$	2,321
	9,299	e	CorEnergy Infrastructure Trust, Inc		329
	24,799		Coresite Realty		2,775
	72,219		Corporate Office Properties Trust		2,371
	301,076		Cousins Properties, Inc		2,812
	289,901		Crown Castle International Corp		28,984
	131,589		CubeSmart		3,416
	62,800		CyrusOne, Inc		3,701
	66,623		DCT Industrial Trust, Inc		3,859
	227,125		DDR Corp		2,080
	144,818		DiamondRock Hospitality Co		1,586
	145,529		Digital Realty Trust, Inc		17,220
	102,445		Douglas Emmett, Inc		4,038
	256,864		Duke Realty Corp		7,403
	26,096		Easterly Government Properties, Inc		539
	23,492		EastGroup Properties, Inc		2,070
	52,715		Education Realty Trust, Inc		1,894
	87,790		Empire State Realty Trust, Inc		1,803
	45,571		Entertainment Properties Trust		3,178
	56,009		Equinix, Inc		24,997
	86,883	*	Equity Commonwealth		2,641
	57,898		Equity Lifestyle Properties, Inc		4,926
	256,853		Equity Residential		16,934
	46,847		Essex Property Trust, Inc		11,901
	88,751		Extra Space Storage, Inc		7,093
	19,962	e	Farmland Partners, Inc		180
	52,442		Federal Realty Investment Trust		6,514
	80,676		First Industrial Realty Trust, Inc		2,428
	42,783		First Potomac Realty Trust		477
	166,308		Forest City Realty Trust, Inc		4,243
	28,997	*,e,m	Forestar Group, Inc		515
	44,705		Four Corners Property Trust, Inc		1,114
	72,511		Franklin Street Properties Corp		770
	4,942	*	FRP Holdings, Inc		224
	141,130		Gaming and Leisure Properties, Inc		5,206
	87,896		Geo Group, Inc		2,364
	18,198		Getty Realty Corp		521
	447,660		GGP, Inc		9,298
	17,811		Gladstone Commercial Corp		397
	10,990	e	Global Medical REIT, Inc		99
	44,961	*	Global Net Lease, Inc		984
	51,670		Government Properties Income Trust		970
	108,607		Gramercy Property Trust		3,285
	341,350		HCP, Inc		9,500
	82,789		Healthcare Realty Trust, Inc		2,677
	142,087		Healthcare Trust of America, Inc		4,234
	27,708	e	Hersha Hospitality Trust		517
	27,225		HFF, Inc (Class A)		1,077
	71,000		Highwoods Properties, Inc		3,698
	115,061		Hospitality Properties Trust		3,278
	529,668		Host Marriott Corp		9,794
	24,727	*	Howard Hughes Corp		2,916
	113,109		Hudson Pacific Properties		3,793

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	48,914		Independence Realty Trust, Inc	$	497
	90,609		Investors Real Estate Trust		554
	64,629		Invitation Homes, Inc		1,464
	190,342		Iron Mountain, Inc		7,404
	49,646	*	iStar Financial, Inc		586
	62,519	*	JBG SMITH Properties		2,139
	6,203		Jernigan Capital, Inc		128
	31,831		Jones Lang LaSalle, Inc		3,931
	61,074	e	Kennedy-Wilson Holdings, Inc		1,133
	69,929		Kilroy Realty Corp		4,973
	297,898		Kimco Realty Corp		5,824
	60,886		Kite Realty Group Trust		1,233
	60,216		Lamar Advertising Co		4,127
	81,319		LaSalle Hotel Properties		2,360
	155,973		Lexington Realty Trust		1,594
	104,529		Liberty Property Trust		4,292
	31,791		Life Storage, Inc		2,601
	27,895		LTC Properties, Inc		1,311
	99,507		Macerich Co		5,470
	65,387		Mack-Cali Realty Corp		1,550
	11,498	*	Marcus & Millichap, Inc		310
	4,532	*	Maui Land & Pineapple Co, Inc		63
	20,532		MedEquities Realty Trust, Inc		241
	258,540		Medical Properties Trust, Inc		3,395
	81,536		Mid-America Apartment Communities, Inc		8,715
	50,307		Monmouth Real Estate Investment Corp (Class A)		815
	28,092		National Health Investors, Inc		2,171
	107,866		National Retail Properties, Inc		4,494
	31,451		National Storage Affiliates Trust		762
	55,714		New Senior Investment Group, Inc		510
	12,730		NexPoint Residential Trust, Inc		302
	42,262		NorthStar Realty Europe Corp		541
	139,485	e	Omega Healthcare Investors, Inc		4,451
	9,027		One Liberty Properties, Inc		220
	97,077		Outfront Media, Inc		2,444
	141,733		Paramount Group, Inc		2,268
	92,621		Park Hotels & Resorts, Inc		2,553
	31,089		Parkway, Inc		716
	49,813		Pebblebrook Hotel Trust		1,800
	52,388	e	Pennsylvania REIT		550
	107,460		Physicians Realty Trust		1,905
	100,383		Piedmont Office Realty Trust, Inc		2,024
	29,588		Potlatch Corp		1,509
	21,687		Preferred Apartment Communities, Inc		409
	380,259		Prologis, Inc		24,131
	13,748		PS Business Parks, Inc		1,835
	106,644		Public Storage, Inc		22,821
	34,553		QTS Realty Trust, Inc		1,809
	69,475	*	Quality Care Properties, Inc		1,077
	57,913		Ramco-Gershenson Properties		753
	89,792		Rayonier, Inc		2,594
	13,117		Re/Max Holdings, Inc		834
	98,527		Realogy Holdings Corp		3,246
	198,343		Realty Income Corp		11,343

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,300	*,e	Redfin Corp	$	183
	108,110		Regency Centers Corp		6,707
	78,162		Retail Opportunities Investment Corp		1,486
	173,060		Retail Properties of America, Inc		2,272
	48,113		Rexford Industrial Realty, Inc		1,377
	124,274		RLJ Lodging Trust		2,734
	5,123		RMR Group, Inc		263
	31,992		Ryman Hospitality Properties		1,999
	116,469		Sabra Healthcare REIT, Inc		2,555
	7,521		Safety Income and Growth, Inc		140
	6,451		Saul Centers, Inc		399
	86,508	*	SBA Communications Corp		12,462
	41,385		Select Income REIT		969
	170,932		Senior Housing Properties Trust		3,342
	18,501	e	Seritage Growth Properties		852
	224,291		Simon Property Group, Inc		36,113
	71,224		SL Green Realty Corp		7,216
	354,302		Spirit Realty Capital, Inc		3,036
	33,773	*	St. Joe Co		637
	64,412		STAG Industrial, Inc		1,769
	72,708		Starwood Waypoint Homes		2,644
	121,165		STORE Capital Corp		3,013
	4,495		Stratus Properties, Inc		136
	73,018		Summit Hotel Properties, Inc		1,168
	52,001		Sun Communities, Inc		4,455
	159,024		Sunstone Hotel Investors, Inc		2,556
	67,688	e	Tanger Factory Outlet Centers, Inc		1,653
	41,435		Taubman Centers, Inc		2,059
	10,268	*	Tejon Ranch Co		217
	35,329		Terreno Realty Corp		1,278
	34,663		Tier REIT, Inc		669
	13,643	*,e	Trinity Place Holdings, Inc		96
	192,841		UDR, Inc		7,334
	20,169		UMH Properties, Inc		314
	119,952	e	Uniti Group, Inc		1,759
	9,264		Universal Health Realty Income Trust		699
	70,770		Urban Edge Properties		1,707
	20,808		Urstadt Biddle Properties, Inc (Class A)		452
	255,464		Ventas, Inc		16,638
	709,541		VEREIT, Inc		5,882
	125,038		Vornado Realty Trust		9,613
	134,922		Washington Prime Group, Inc		1,124
	55,986		Washington REIT		1,834
	86,814		Weingarten Realty Investors		2,756
	264,160		Welltower, Inc		18,565
	538,992		Weyerhaeuser Co		18,342
	25,132	e	Whitestone REIT		328
	76,656		WP Carey, Inc		5,166
	79,064		Xenia Hotels & Resorts, Inc		1,664
			TOTAL REAL ESTATE		745,272
RETAILING - 4.8%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		180

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	45,849		Aaron’s, Inc	$	2,000
	51,631		Abercrombie & Fitch Co (Class A)		746
	51,735		Advance Auto Parts, Inc		5,132
	285,581	*	Amazon.com, Inc		274,543
	117,400		American Eagle Outfitters, Inc		1,679
	5,481	*	America’s Car-Mart, Inc		225
	13,496	*	Asbury Automotive Group, Inc		825
	4,073	*,e	At Home Group, Inc		93
	46,431	*,e	Autonation, Inc		2,204
	19,977	*	AutoZone, Inc		11,889
	29,015	*	Barnes & Noble Education, Inc		189
	40,294		Barnes & Noble, Inc		306
	101,071		Bed Bath & Beyond, Inc		2,372
	190,112		Best Buy Co, Inc		10,829
	14,390	e	Big 5 Sporting Goods Corp		110
	30,493		Big Lots, Inc		1,634
	9,762	*	Boot Barn Holdings, Inc		87
	14,004	e	Buckle, Inc		236
	8,786	*	Build-A-Bear Workshop, Inc		80
	50,175	*	Burlington Stores, Inc		4,790
	28,267		Caleres, Inc		863
	8,124		Camping World Holdings, Inc		331
	134,109	*,e	Carmax, Inc		10,167
	10,677	*,e	Carvana Co		157
	12,003		Cato Corp (Class A)		159
	83,036		Chico’s FAS, Inc		743
	12,596		Children’s Place Retail Stores, Inc		1,488
	11,556		Citi Trends, Inc		230
	13,169	*,e	Conn’s, Inc		371
	11,400	*,e	Container Store Group, Inc		48
	33,096		Core-Mark Holding Co, Inc		1,064
	63,082		Dick’s Sporting Goods, Inc		1,704
	10,952	e	Dillard’s, Inc (Class A)		614
	198,653		Dollar General Corp		16,101
	166,563	*	Dollar Tree, Inc		14,461
	49,292		DSW, Inc (Class A)		1,059
	7,236	*,e	Duluth Holdings, Inc		147
	87,653		Expedia, Inc		12,617
	55,323	*	Express Parent LLC		374
	28,194		Finish Line, Inc (Class A)		339
	39,150	*	Five Below, Inc		2,149
	7,526	*,e	Floor & Decor Holdings, Inc		293
	94,815		Foot Locker, Inc		3,339
	25,440	*	Francesca’s Holdings Corp		187
	27,215	e	Fred’s, Inc (Class A)		175
	13,967	*	FTD Cos, Inc		182
	6,584	*	Gaia, Inc		79
	70,099		GameStop Corp (Class A)		1,448
	171,913		Gap, Inc		5,077
	13,677	*	Genesco, Inc		364
	103,143		Genuine Parts Co		9,866
	50,651	e	GNC Holdings, Inc		448
	14,604		Group 1 Automotive, Inc		1,058
	244,899	*	Groupon, Inc		1,273

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	44,451		Guess?, Inc	$	757
	13,840		Haverty Furniture Cos, Inc		362
	16,994	*,e	Hibbett Sports, Inc		242
	859,101		Home Depot, Inc		140,515
	24,109		HSN, Inc		941
	8,070	*,e	J. Jill, Inc		88
	228,517	*,e	JC Penney Co, Inc		871
	12,718	*	Kirkland’s, Inc		145
	123,140		Kohl’s Corp		5,621
	174,367		L Brands, Inc		7,255
	9,431	*,e	Lands’ End, Inc		125
	39,468	*	Liberty Expedia Holdings, Inc		2,096
	294,854	*	Liberty Interactive Corp		6,950
	53,282	*	Liberty TripAdvisor Holdings, Inc		658
	56,236	*	Liberty Ventures		3,236
	16,930		Lithia Motors, Inc (Class A)		2,037
	211,254	*	LKQ Corp		7,603
	603,433		Lowe’s Companies, Inc		48,238
	19,294	*	Lumber Liquidators, Inc		752
	221,744		Macy’s, Inc		4,838
	18,578	*	MarineMax, Inc		307
	83,777	*	Michaels Cos, Inc		1,799
	23,604		Monro Muffler, Inc		1,323
	25,361	*	Murphy USA, Inc		1,750
	296,529	*	NetFlix, Inc		53,776
	84,693		Nordstrom, Inc		3,993
	21,359		Nutri/System, Inc		1,194
	370,480		Office Depot, Inc		1,682
	34,400	*	Ollie’s Bargain Outlet Holdings, Inc		1,596
	64,424	*	O’Reilly Automotive, Inc		13,875
	12,199	*	Overstock.com, Inc		362
	17,507	*	Party City Holdco, Inc		237
	25,707		Penske Auto Group, Inc		1,223
	14,105	e	PetMed Express, Inc		468
	59,095		Pier 1 Imports, Inc		248
	34,923	*	Priceline.com, Inc		63,938
	30,873	e	Rent-A-Center, Inc		354
	14,305	*,e	RH		1,006
	278,872		Ross Stores, Inc		18,007
	100,020	*	Sally Beauty Holdings, Inc		1,958
	29,918	*	Select Comfort Corp		929
	2,356		Shoe Carnival, Inc		53
	24,406	*	Shutterfly, Inc		1,183
	49,664	e	Signet Jewelers Ltd		3,305
	20,728		Sonic Automotive, Inc (Class A)		423
	19,952	*,e	Sportsman’s Warehouse Holdings, Inc		90
	26,598	e	Tailored Brands, Inc		384
	398,651		Target Corp		23,524
	77,229		Tiffany & Co		7,088
	24,339		Tile Shop Holdings, Inc		309
	6,790		Tilly’s, Inc		81
	461,350		TJX Companies, Inc		34,015
	93,478		Tractor Supply Co		5,916

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	77,582	*,e	TripAdvisor, Inc	$	3,144
	42,488	*	Ulta Beauty, Inc		9,605
	64,021	*	Urban Outfitters, Inc		1,530
	17,699	*	Vitamin Shoppe, Inc		95
	27,839	*,e	Wayfair, Inc		1,876
	62,628	e	Williams-Sonoma, Inc		3,123
	1,945		Winmark Corp		256
	11,661	*	Zumiez, Inc		211
			TOTAL RETAILING		908,690
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.7%
	13,345	*,e	Acacia Communications, Inc		629
	28,672	*	Advanced Energy Industries, Inc		2,316
	598,249	*,e	Advanced Micro Devices, Inc		7,628
	15,539	*	Alpha & Omega Semiconductor Ltd		256
	23,188	*,e	Ambarella, Inc		1,136
	73,241	*	Amkor Technology, Inc		773
	260,563		Analog Devices, Inc		22,453
	769,255		Applied Materials, Inc		40,070
	20,849	*	Axcelis Technologies, Inc		570
	26,991	*	AXT, Inc		247
	287,270		Broadcom Ltd		69,674
	49,923		Brooks Automation, Inc		1,516
	17,924		Cabot Microelectronics Corp		1,433
	47,258	*	Cavium, Inc		3,116
	15,710	*	Ceva, Inc		672
	46,452	*	Cirrus Logic, Inc		2,477
	18,761		Cohu, Inc		447
	70,502	*	Cree, Inc		1,987
	4,598	*,e	CyberOptics Corp		75
	236,910	e	Cypress Semiconductor Corp		3,558
	28,713	*	Diodes, Inc		859
	16,832	*	DSP Group, Inc		219
	102,868	*	Entegris, Inc		2,968
	59,023	*	First Solar, Inc		2,708
	51,293	*	Formfactor, Inc		864
	9,281	*,e	GSI Technology, Inc		67
	8,421	*	Ichor Holdings Ltd		226
	13,074	*,e	Impinj, Inc		544
	29,376	*,e	Inphi Corp		1,166
	96,873	*	Integrated Device Technology, Inc		2,575
	3,386,679		Intel Corp		128,965
	16,725		IXYS Corp		396
	113,478		Kla-Tencor Corp		12,029
	50,517	*	Kopin Corp		211
	113,555		Lam Research Corp		21,012
	75,431	*	Lattice Semiconductor Corp		393
	29,103	*,e	MA-COM Technology Solutions		1,298
	292,429		Marvell Technology Group Ltd		5,234
	202,095		Maxim Integrated Products, Inc		9,642
	43,500	*	MaxLinear, Inc		1,033
	152,706		Microchip Technology, Inc		13,710
	753,381	*	Micron Technology, Inc		29,630
	82,939	*	Microsemi Corp		4,270

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	38,853		MKS Instruments, Inc	$	3,670
	28,750		Monolithic Power Systems, Inc		3,063
	18,167	*	Nanometrics, Inc		523
	21,168	*,e	NeoPhotonics Corp Ltd		118
	3,184		NVE Corp		251
	409,358		NVIDIA Corp		73,181
	242,139	*	NXP Semiconductors NV		27,383
	303,061	*	ON Semiconductor Corp		5,598
	20,605	*,e	PDF Solutions, Inc		319
	46,544	*	Photronics, Inc		412
	19,443	*	Pixelworks, Inc		92
	20,135		Power Integrations, Inc		1,474
	90,456	*	Qorvo, Inc		6,393
	1,068,023		Qualcomm, Inc		55,366
	79,664	*	Rambus, Inc		1,064
	22,659	*	Rudolph Technologies, Inc		596
	47,350	*	Semtech Corp		1,778
	25,567	*	Sigma Designs, Inc		161
	28,958	*	Silicon Laboratories, Inc		2,314
	133,022		Skyworks Solutions, Inc		13,555
	14,575	*	SMART Global Holdings, Inc		390
	42,585	*,e	SunPower Corp		310
	145,190		Teradyne, Inc		5,414
	720,276		Texas Instruments, Inc		64,566
	23,500	*	Ultra Clean Holdings		720
	34,384	*	Veeco Instruments, Inc		736
	77,993		Versum Materials, Inc		3,028
	37,527	*	Xcerra Corp		370
	179,234		Xilinx, Inc		12,695
	35,485		Xperi Corp		898
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		687,490
SOFTWARE & SERVICES - 13.2%
	31,603	*	2U, Inc		1,771
	65,506	*	8x8, Inc		884
	32,215	*	A10 Networks, Inc		244
	447,958		Accenture plc		60,506
	86,241	*	ACI Worldwide, Inc		1,965
	533,881		Activision Blizzard, Inc		34,441
	23,331	*	Actua Corp		357
	57,158	*	Acxiom Corp		1,408
	356,601	*	Adobe Systems, Inc		53,198
	120,279	*	Akamai Technologies, Inc		5,860
	14,717	*	Alarm.com Holdings, Inc		665
	34,856		Alliance Data Systems Corp		7,722
	213,720	*	Alphabet, Inc (Class A)		208,104
	217,359	*	Alphabet, Inc (Class C)		208,471
	6,774	*,e	Alteryx, Inc		138
	11,882	*	Amber Road, Inc		91
	104,061		Amdocs Ltd		6,693
	15,720	*	American Software, Inc (Class A)		179
	61,523	*	Ansys, Inc		7,551
	5,867	*	Appfolio, Inc		281

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,607	*	Apptio, Inc	$	233
	52,922	*	Aspen Technology, Inc		3,324
	53,046	*	Atlassian Corp plc		1,865
	149,844	*	Autodesk, Inc		16,821
	323,034		Automatic Data Processing, Inc		35,314
	34,946	*	Bankrate, Inc		487
	18,304	*	Barracuda Networks, Inc		444
	59,668	*	Bazaarvoice, Inc		295
	11,374	*,e	Benefitfocus, Inc		383
	20,754	*,e	Black Knight Financial Services, Inc		893
	34,044		Blackbaud, Inc		2,989
	40,135	*	Blackhawk Network Holdings, Inc		1,758
	7,430	*,e	Blackline, Inc		254
	30,473	*	Blucora, Inc		771
	105,922		Booz Allen Hamilton Holding Co		3,960
	29,562	*	Bottomline Technologies, Inc		941
	56,836	*	Box, Inc		1,098
	20,694	*	Brightcove, Inc		149
	84,067		Broadridge Financial Solutions, Inc		6,794
	21,331	*,e	BroadSoft, Inc		1,073
	225,226		CA, Inc		7,518
	17,838	*	CACI International, Inc (Class A)		2,486
	199,514	*	Cadence Design Systems, Inc		7,875
	46,299	*	Callidus Software, Inc		1,141
	18,030	*	Carbonite, Inc		397
	33,955	*	Cardtronics plc		781
	10,137	*	Care.com, Inc		161
	51,951	*,e	Cars.com, Inc		1,382
	8,028		Cass Information Systems, Inc		509
	96,451		CDK Global, Inc		6,085
	15,814	*	ChannelAdvisor Corp		182
	18,077	*,e	Cimpress NV		1,765
	108,784	*	Citrix Systems, Inc		8,357
	9,543	*,e	Cloudera, Inc		159
	422,163		Cognizant Technology Solutions Corp (Class A)		30,624
	19,734	*	CommerceHub, Inc		421
	9,867	*	CommerceHub, Inc (Series A)		223
	28,135	*	Commvault Systems, Inc		1,711
	137,713	*	Conduent, Inc		2,158
	67,630		Convergys Corp		1,751
	37,259	*	Cornerstone OnDemand, Inc		1,513
	22,983	*	CoStar Group, Inc		6,165
	21,523	*	Coupa Software, Inc		670
	24,883		CSG Systems International, Inc		998
	114,401		CSRA, Inc		3,692
	142,078	*	Dell Technologies, Inc-VMware Inc		10,970
	32,513	*	DHI Group, Inc		85
	7,264	*,e	Digimarc Corp		266
	44,464		DST Systems, Inc		2,440
	204,453		DXC Technology Co		17,558
	704,215	*	eBay, Inc		27,084
	17,480	e	Ebix, Inc		1,141
	216,169	*	Electronic Arts, Inc		25,521
	24,127	*	Ellie Mae, Inc		1,982

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	43,380	*	Endurance International Group Holdings, Inc	$	356
	30,234	*	Envestnet, Inc		1,542
	34,220	*	EPAM Systems, Inc		3,009
	83,578	*	Etsy, Inc		1,411
	35,298	*	Euronet Worldwide, Inc		3,346
	12,571	*	Everbridge, Inc		332
	45,885	*	Everi Holdings, Inc		348
	44,094		EVERTEC, Inc		699
	9,749	*	EXA Corp		236
	21,916	*	ExlService Holdings, Inc		1,278
	1,676,846	*	Facebook, Inc		286,523
	21,529		Fair Isaac Corp		3,025
	237,387		Fidelity National Information Services, Inc		22,170
	127,712	*,e	FireEye, Inc		2,142
	61,509	*	First American Corp		2,843
	280,206	*	First Data Corp		5,055
	152,647	*	Fiserv, Inc		19,685
	37,675	*	Five9, Inc		900
	66,037	*	FleetCor Technologies, Inc		10,221
	7,582		Forrester Research, Inc		317
	104,792	*	Fortinet, Inc		3,756
	62,703	*	Gartner, Inc		7,801
	97,664		Genpact Ltd		2,808
	25,984	*	Gigamon, Inc		1,095
	109,228		Global Payments, Inc		10,380
	54,344	*,e	Glu Mobile, Inc		204
	54,469	*	GoDaddy, Inc		2,370
	42,541	*,e	Gogo, Inc		502
	60,011	*,e	GrubHub, Inc		3,160
	22,127	*	GTT Communications, Inc		700
	52,363	*	Guidewire Software, Inc		4,077
	17,956		Hackett Group, Inc		273
	34,799	*	Hortonworks, Inc		590
	24,272	*	HubSpot, Inc		2,040
	49,755	*	IAC/InterActiveCorp		5,850
	24,295	*	Imperva, Inc		1,054
	24,668	*	Information Services Group, Inc		99
	15,324	*	Instructure, Inc		508
	59,207	*,e	Internap Network Services Corp		258
	612,885		International Business Machines Corp		88,917
	175,596		Intuit, Inc		24,959
	33,493		j2 Global, Inc		2,474
	55,229		Jack Henry & Associates, Inc		5,677
	9,177	*	Leaf Group Ltd		63
	101,147		Leidos Holdings, Inc		5,990
	50,961	*	Limelight Networks, Inc		202
	19,090	*	Liquidity Services, Inc		113
	40,701	*	Liveperson, Inc		551
	36,974		LogMeIn, Inc		4,069
	48,035	*	Manhattan Associates, Inc		1,997
	18,418		Mantech International Corp (Class A)		813
	680,602		MasterCard, Inc (Class A)		96,101
	24,371	*,e	Match Group, Inc		565

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	44,595		MAXIMUS, Inc	$	2,876
	46,865	*	Meet Group, Inc		171
	5,377,230		Microsoft Corp		400,550
	6,844	*	MicroStrategy, Inc (Class A)		874
	26,600	*	MINDBODY, Inc		688
	22,456	*	Mitek Systems, Inc		213
	40,466	*	MobileIron, Inc		150
	14,483	*	Model N, Inc		217
	22,389	*	MoneyGram International, Inc		361
	29,292		Monotype Imaging Holdings, Inc		564
	10,573	*,e	MuleSoft, Inc		213
	21,173	*	New Relic, Inc		1,054
	46,584		NIC, Inc		799
	208,409	*	Nuance Communications, Inc		3,276
	25,143	*,e	Nutanix, Inc		563
	8,277	*,e	Okta, Inc		233
	2,054,905		Oracle Corp		99,355
	163,222	*,e	Pandora Media, Inc		1,257
	7,197	*,e	Park City Group, Inc		87
	231,845		Paychex, Inc		13,901
	35,482	*,e	Paycom Software, Inc		2,660
	18,614	*	Paylocity Holding Corp		909
	818,113	*	PayPal Holdings, Inc		52,384
	26,462		Pegasystems, Inc		1,526
	25,493	*	Perficient, Inc		501
	30,646	*	Planet Payment, Inc		131
	13,412	*,e	Presidio, Inc		190
	31,483		Progress Software Corp		1,202
	30,883	*	Proofpoint, Inc		2,694
	19,034	*	PROS Holdings, Inc		459
	81,664	*	PTC, Inc		4,596
	22,395	*	Q2 Holdings, Inc		933
	7,729		QAD, Inc (Class A)		265
	22,512	*	Qualys, Inc		1,166
	20,643	*	QuinStreet, Inc		152
	53,361	*	Quotient Technology, Inc		835
	14,504	*,e	Rapid7, Inc		255
	18,038	*	RealNetworks, Inc		87
	42,414	*	RealPage, Inc		1,692
	127,214	*	Red Hat, Inc		14,103
	6,528		Reis, Inc		118
	44,988	*	RingCentral, Inc		1,878
	13,437	*	Rosetta Stone, Inc		137
	27,990	*	Rubicon Project, Inc		109
	151,223		Sabre Corp		2,737
	488,162	*	salesforce.com, Inc		45,604
	31,653		Science Applications International Corp		2,116
	4,599	*,e	SecureWorks Corp		57
	120,406	*	ServiceNow, Inc		14,151
	46,932	*	ServiceSource International LLC		162
	13,499	*	Shutterstock, Inc		449
	29,419	*	Silver Spring Networks, Inc		476
	98,246	*	Splunk, Inc		6,526
	12,246	*	SPS Commerce, Inc		694

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	160,838	*	Square, Inc	$	4,634
	122,104		SS&C Technologies Holdings, Inc		4,902
	11,437	*	Stamps.com, Inc		2,318
	6,538	*	StarTek, Inc		77
	29,262	*	Sykes Enterprises, Inc		853
	445,443		Symantec Corp		14,615
	30,290	*,e	Synchronoss Technologies, Inc		283
	107,416	*	Synopsys, Inc		8,650
	23,254		Syntel, Inc		457
	43,485	*	Tableau Software, Inc		3,257
	70,966	*	Take-Two Interactive Software, Inc		7,255
	12,153	*	TechTarget, Inc		145
	20,400	*	TeleNav, Inc		130
	10,054		TeleTech Holdings, Inc		420
	90,969	*,e	Teradata Corp		3,074
	84,788		TiVo Corp		1,683
	130,014		Total System Services, Inc		8,516
	12,457	*	Trade Desk, Inc		766
	88,235		Travelport Worldwide Ltd		1,385
	44,667	*,e	TrueCar, Inc		705
	6,516	*,e	Tucows, Inc		382
	44,947	*,e	Twilio, Inc		1,342
	478,918	*	Twitter, Inc		8,079
	24,426	*	Tyler Technologies, Inc		4,258
	20,094	*	Ultimate Software Group, Inc		3,810
	38,674	*,e	Unisys Corp		329
	4,914	*	Upland Software, Inc		104
	115,105	*	Vantiv, Inc		8,111
	13,785	*	Varonis Systems, Inc		578
	21,489	*	Vasco Data Security International		259
	45,384	*	Verint Systems, Inc		1,899
	62,967	*,e	VeriSign, Inc		6,699
	32,131	*,e	VirnetX Holding Corp		125
	19,953	*	Virtusa Corp		754
	1,331,275		Visa, Inc (Class A)		140,103
	51,001	*,e	VMware, Inc (Class A)		5,569
	27,749	*	Website Pros, Inc		694
	337,570		Western Union Co		6,481
	27,596	*	WEX, Inc		3,097
	93,622	*	Workday, Inc		9,867
	16,351	*	Workiva, Inc		341
	19,259	*	XO Group, Inc		379
	56,028	*	Yelp, Inc		2,426
	8,394	*,e	Yext, Inc		111
	69,807	*	Zendesk, Inc		2,032
	38,071	*	Zillow Group, Inc		1,529
	76,096	*,e	Zillow Group, Inc (Class C)		3,060
	42,422	*	Zix Corp		207
	549,506	*	Zynga, Inc		2,077
			TOTAL SOFTWARE & SERVICES		2,469,783
TECHNOLOGY HARDWARE & EQUIPMENT - 5.4%
	74,639	*,e	3D Systems Corp		999

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	35,649		Adtran, Inc	$	856
	16,323	*	Aerohive Networks, Inc		67
	11,056	*	Agilysys, Inc		132
	6,547	*,e	Akoustis Technologies, Inc		43
	215,682		Amphenol Corp (Class A)		18,255
	21,094	*	Anixter International, Inc		1,793
	3,742,753		Apple, Inc		576,833
	13,189	*,e	Applied Optoelectronics, Inc		853
	37,776	*	Arista Networks, Inc		7,163
	130,734	*	ARRIS International plc		3,725
	62,946	*	Arrow Electronics, Inc		5,061
	24,161	*	Avid Technology, Inc		110
	90,328		Avnet, Inc		3,550
	34,410		AVX Corp		627
	20,748		Badger Meter, Inc		1,017
	7,316		Bel Fuse, Inc (Class B)		228
	30,293		Belden CDT, Inc		2,439
	35,867	*	Benchmark Electronics, Inc		1,225
	285,477		Brocade Communications Systems, Inc		3,411
	26,799	*	CalAmp Corp		623
	28,887	*	Calix, Inc		146
	109,536		CDW Corp		7,229
	101,053	*	Ciena Corp		2,220
	3,581,281		Cisco Systems, Inc		120,439
	8,964	*,e	Clearfield, Inc		122
	60,271		Cognex Corp		6,647
	17,685	*	Coherent, Inc		4,159
	137,846	*	CommScope Holding Co, Inc		4,578
	16,237		Comtech Telecommunications Corp		333
	15,682	*	Control4 Corp		462
	653,630		Corning, Inc		19,557
	29,620	*	Cray, Inc		576
	23,637		CTS Corp		570
	27,847		Daktronics, Inc		294
	53,560	e	Diebold, Inc		1,224
	18,652	*	Digi International, Inc		198
	39,659		Dolby Laboratories, Inc (Class A)		2,281
	13,533	*	Eastman Kodak Co		99
	33,587	*	EchoStar Corp (Class A)		1,922
	21,493	*	Electro Scientific Industries, Inc		299
	33,181	*	Electronics for Imaging, Inc		1,416
	18,982		EMCORE Corp		156
	9,278	*	ePlus, Inc		858
	79,396	*	Extreme Networks, Inc		944
	46,260	*	F5 Networks, Inc		5,577
	26,560	*	Fabrinet		984
	12,851	*	FARO Technologies, Inc		492
	80,146	*	Finisar Corp		1,777
	124,310	*,e	Fitbit, Inc		865
	95,771		Flir Systems, Inc		3,726
	58,321	*	Harmonic, Inc		178
	87,178		Harris Corp		11,480
	1,194,003		Hewlett Packard Enterprise Co		17,564
	1,207,334		HP, Inc		24,098

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	43,712	*	II-VI, Inc	$	1,799
	21,661	*,e	Immersion Corp		177
	103,799	*	Infinera Corp		921
	25,682	*	Insight Enterprises, Inc		1,179
	25,007		InterDigital, Inc		1,844
	13,652	*	Intevac, Inc		115
	25,495	*	IPG Photonics Corp		4,718
	18,293	*	Iteris, Inc		122
	24,355	*	Itron, Inc		1,886
	129,452		Jabil Circuit, Inc		3,696
	267,163		Juniper Networks, Inc		7,435
	32,485	*	Kemet Corp		686
	131,492	*	Keysight Technologies, Inc		5,478
	21,162	*	Kimball Electronics, Inc		458
	64,648	*	Knowles Corp		987
	10,929	*	KVH Industries, Inc		131
	16,323		Littelfuse, Inc		3,197
	43,856	*	Lumentum Holdings, Inc		2,384
	24,482	*,e	Maxwell Technologies, Inc		126
	2,255	e	Mesa Laboratories, Inc		337
	25,950		Methode Electronics, Inc		1,099
	47,549	*,e	Microvision, Inc		132
	117,662		Motorola, Inc		9,986
	12,096		MTS Systems Corp		647
	7,937	*	Napco Security Technologies, Inc		77
	76,957		National Instruments Corp		3,245
	87,292	*	NCR Corp		3,275
	195,418		NetApp, Inc		8,551
	23,887	*	Netgear, Inc		1,137
	64,175	*	Netscout Systems, Inc		2,076
	23,522	*	Novanta, Inc		1,026
	119,078	*,e	Oclaro, Inc		1,028
	12,827	*	OSI Systems, Inc		1,172
	63,866	*	Palo Alto Networks, Inc		9,203
	14,228		Park Electrochemical Corp		263
	8,216		PC Connection, Inc		232
	6,945	*	PC Mall, Inc		97
	24,496		Plantronics, Inc		1,083
	24,305	*	Plexus Corp		1,363
	67,260	*	Pure Storage, Inc		1,075
	15,117	*	Quantenna Communications, Inc		254
	20,253	*	Quantum Corp		124
	26,581	*	Radisys Corp		36
	12,852	*	Rogers Corp		1,713
	52,368	*	Sanmina Corp		1,945
	17,777	*	Scansource, Inc		776
	37,508	*	Sonus Networks, Inc		287
	37,383	*	Stratasys Ltd		864
	27,221	*	Super Micro Computer, Inc		602
	25,356	*	Synaptics, Inc		993
	20,598		SYNNEX Corp		2,606
	9,938		Systemax, Inc		263
	25,262	*	Tech Data Corp		2,244

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	178,485	*	Trimble Navigation Ltd	$	7,006
	66,124	*	TTM Technologies, Inc		1,016
	16,794	*,e	Ubiquiti Networks, Inc		941
	30,250		Universal Display Corp		3,898
	28,420	*	USA Technologies, Inc		178
	80,817	*	VeriFone Systems, Inc		1,639
	38,380	*,e	Viasat, Inc		2,469
	165,919	*	Viavi Solutions, Inc		1,570
	97,366	e	Vishay Intertechnology, Inc		1,830
	9,508	*	Vishay Precision Group, Inc		232
	210,181		Western Digital Corp		18,160
	166,502		Xerox Corp		5,543
	37,981	*	Zebra Technologies Corp (Class A)		4,124
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,018,236
TELECOMMUNICATION SERVICES - 2.0%
	4,418,095		AT&T, Inc		173,057
	7,918		ATN International, Inc		417
	27,406	*	Boingo Wireless, Inc		586
	389,983	e	CenturyLink, Inc		7,371
	29,963	*	Cincinnati Bell, Inc		595
	29,776		Cogent Communications Group, Inc		1,456
	48,355		Consolidated Communications Holdings, Inc		923
	57,416	e	Frontier Communications Corp		677
	19,551	*	General Communication, Inc (Class A)		797
	316,146	*,e	Globalstar, Inc		515
	5,442	*	Hawaiian Telcom Holdco, Inc		162
	10,513		IDT Corp (Class B)		148
	23,607	*	Intelsat S.A.		111
	60,764	*,e	Iridium Communications, Inc		626
	212,482	*	Level 3 Communications, Inc		11,323
	16,622	*	Lumos Networks Corp		298
	13,047	*	Ooma, Inc		138
	44,329	*	Orbcomm, Inc		464
	7,472	*,e	pdvWireless, Inc		223
	33,638		Shenandoah Telecom Co		1,251
	14,641		Spok Holdings, Inc		225
	458,152	*,e	Sprint Corp		3,564
	5,677	*	Straight Path Communications, Inc		1,026
	70,982		Telephone & Data Systems, Inc		1,980
	211,885	*	T-Mobile US, Inc		13,065
	9,529	*	US Cellular Corp		337
	2,925,670		Verizon Communications, Inc		144,791
	143,849	*	Vonage Holdings Corp		1,171
	134,628	e	Windstream Holdings, Inc		238
	134,804	*	Zayo Group Holdings, Inc		4,640
			TOTAL TELECOMMUNICATION SERVICES		372,175
TRANSPORTATION - 2.1%
	37,928	*	Air Transport Services Group, Inc		923
	85,907		Alaska Air Group, Inc		6,552
	9,285		Allegiant Travel Co		1,223
	3,647		Amerco, Inc		1,367
	321,474		American Airlines Group, Inc		15,267

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,331		Arkansas Best Corp	$	647
	16,948	*	Atlas Air Worldwide Holdings, Inc		1,115
	53,941	*	Avis Budget Group, Inc		2,053
	100,174	e	CH Robinson Worldwide, Inc		7,623
	21,812		Copa Holdings S.A. (Class A)		2,716
	23,634		Costamare, Inc		146
	8,672	*	Covenant Transportation Group, Inc		251
	634,742		CSX Corp		34,441
	14,173	*,e	Daseke, Inc		185
	471,591		Delta Air Lines, Inc		22,740
	28,818	*,e	Eagle Bulk Shipping, Inc		131
	21,041	*	Echo Global Logistics, Inc		397
	129,396		Expeditors International of Washington, Inc		7,746
	175,024		FedEx Corp		39,482
	20,963		Forward Air Corp		1,200
	6,118	*	Genco Shipping & Trading Ltd		71
	43,633	*	Genesee & Wyoming, Inc (Class A)		3,229
	36,387	*	Hawaiian Holdings, Inc		1,366
	33,759		Heartland Express, Inc		847
	40,162	*,e	Hertz Global Holdings, Inc		898
	21,791	*	Hub Group, Inc (Class A)		936
	61,748		J.B. Hunt Transport Services, Inc		6,859
	240,228	*	JetBlue Airways Corp		4,451
	75,793		Kansas City Southern Industries, Inc		8,237
	37,438	*	Kirby Corp		2,469
	87,818	*,e	Knight-Swift Transportation Holdings, Inc		3,649
	30,053		Landstar System, Inc		2,995
	55,800		Macquarie Infrastructure Co LLC		4,028
	23,235		Marten Transport Ltd		477
	32,238		Matson, Inc		908
	65,499	*,e	Navios Maritime Holdings, Inc		109
	208,731		Norfolk Southern Corp		27,603
	43,304		Old Dominion Freight Line		4,768
	6,136		Park-Ohio Holdings Corp		280
	29,335	*	Radiant Logistics, Inc		156
	20,933	*	Roadrunner Transportation Services Holdings, Inc		199
	38,669		Ryder System, Inc		3,269
	33,371	*	Safe Bulkers, Inc		91
	18,094	*	Saia, Inc		1,134
	22,723		Schneider National, Inc		575
	40,927	*	Scorpio Bulkers, Inc		289
	37,279		Skywest, Inc		1,637
	404,597		Southwest Airlines Co		22,649
	50,261	*	Spirit Airlines, Inc		1,679
	576,649		Union Pacific Corp		66,874
	197,220	*	United Continental Holdings, Inc		12,007
	498,257		United Parcel Service, Inc (Class B)		59,836
	6,297		Universal Truckload Services, Inc		129
	31,167		Werner Enterprises, Inc		1,139
	79,581	*	XPO Logistics, Inc		5,394
	23,809	*	YRC Worldwide, Inc		329
			TOTAL TRANSPORTATION		397,771

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
UTILITIES - 3.1%
	479,673		AES Corp	$	5,286
	36,666		Allete, Inc		2,834
	162,876		Alliant Energy Corp		6,771
	174,489		Ameren Corp		10,092
	345,990		American Electric Power Co, Inc		24,302
	25,230		American States Water Co		1,243
	128,381		American Water Works Co, Inc		10,387
	125,741		Aqua America, Inc		4,173
	8,231	*	AquaVenture Holdings Ltd		111
	4,909		Artesian Resources Corp		186
	92,825	*	Atlantic Power Corp		227
	73,408		Atmos Energy Corp		6,155
	39,059		Avangrid, Inc		1,852
	45,672		Avista Corp		2,364
	38,044		Black Hills Corp		2,620
	15,011	*,e	Cadiz, Inc		191
	35,650		California Water Service Group		1,360
	261,683	*	Calpine Corp		3,860
	309,882		Centerpoint Energy, Inc		9,052
	11,318		Chesapeake Utilities Corp		886
	201,227		CMS Energy Corp		9,321
	8,405		Connecticut Water Service, Inc		498
	220,068		Consolidated Edison, Inc		17,755
	10,961		Consolidated Water Co, Inc		140
	453,211		Dominion Resources, Inc		34,866
	128,939		DTE Energy Co		13,843
	502,898		Duke Energy Corp		42,203
	80,776	*	Dynegy, Inc		791
	229,445		Edison International		17,706
	27,569		El Paso Electric Co		1,523
	129,224		Entergy Corp		9,868
	228,773		Eversource Energy		13,827
	669,403		Exelon Corp		25,216
	318,061		FirstEnergy Corp		9,806
	9,378		Genie Energy Ltd		61
	6,410		Global Water Resources, Inc		60
	153,133		Great Plains Energy, Inc		4,640
	76,347		Hawaiian Electric Industries, Inc		2,548
	35,966		Idacorp, Inc		3,163
	140,621		MDU Resources Group, Inc		3,649
	24,502		MGE Energy, Inc		1,583
	11,759		Middlesex Water Co		462
	57,732	e	National Fuel Gas Co		3,268
	62,202		New Jersey Resources Corp		2,622
	337,823		NextEra Energy, Inc		49,508
	234,601		NiSource, Inc		6,003
	21,777		Northwest Natural Gas Co		1,402
	35,112		NorthWestern Corp		1,999
	214,201		NRG Energy, Inc		5,481
	24,011		NRG Yield, Inc (Class A)		456
	47,061		NRG Yield, Inc (Class C)		908
	142,240		OGE Energy Corp		5,125
	36,272		ONE Gas, Inc		2,671

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	26,977		Ormat Technologies, Inc	$	1,647
	27,545		Otter Tail Corp		1,194
	50,689		Pattern Energy Group, Inc		1,222
	366,904		PG&E Corp		24,983
	79,660		Pinnacle West Capital Corp		6,736
	55,254		PNM Resources, Inc		2,227
	62,460		Portland General Electric Co		2,851
	494,802		PPL Corp		18,778
	364,439		Public Service Enterprise Group, Inc		16,855
	11,616	*,e	Pure Cycle Corp		87
	4,887		RGC Resources, Inc		140
	95,839		SCANA Corp		4,647
	180,826		Sempra Energy		20,638
	12,005		SJW Corp		679
	58,642		South Jersey Industries, Inc		2,025
	718,730		Southern Co		35,318
	34,400		Southwest Gas Corp		2,670
	7,544	e	Spark Energy, Inc		113
	33,979		Spire, Inc		2,537
	45,979		TerraForm Global, Inc		218
	51,170		TerraForm Power, Inc		676
	123,477		UGI Corp		5,786
	10,272		Unitil Corp		508
	59,431		Vectren Corp		3,909
	169,935		Vistra Energy Corp		3,176
	15,334	*,e	Vivint Solar, Inc		52
	227,948		WEC Energy Group, Inc		14,311
	101,059		Westar Energy, Inc		5,013
	35,622		WGL Holdings, Inc		2,999
	366,897		Xcel Energy, Inc		17,362
	9,006		York Water Co		305
			TOTAL UTILITIES		586,586
			TOTAL COMMON STOCKS		18,702,558
			(Cost $8,894,480)
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		3
	6,981	*,m	Tobira Therapeutics, Inc		0	^
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		13
SOFTWARE & SERVICES - 0.0%
	19,206	†,m	Gerber Scientific, Inc		0
			TOTAL SOFTWARE & SERVICES		0
			TOTAL RIGHTS / WARRANTS		13
			(Cost $1)

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 1.9%
GOVERNMENT AGENCY DEBT - 0.1%
$	20,200,000		Federal Home Loan Bank (FHLB)		0.700	%	10/02/17	$	20,200
			TOTAL GOVERNMENT AGENCY DEBT						20,200
TREASURY DEBT - 0.3%
	41,480,000		United States Treasury Bill		0.880		10/05/17		41,477
	10,220,000		United States Treasury Bill		0.927		10/26/17		10,214
			TOTAL TREASURY DEBT						51,691
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.5%
	288,605,035	c	State Street Navigator Securities Lending Government Money Market Portfolio						288,605
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						288,605
			TOTAL SHORT-TERM INVESTMENTS						360,496
			(Cost $360,494)
			TOTAL INVESTMENTS - 101.5%						19,063,067
			(Cost $9,254,975)
			OTHER ASSETS & LIABILITIES, NET - (1.4)%						(273,412	)
			NET ASSETS - 100.0%					$	18,789,655

Abbreviation(s):

CVR    Contingent Value Right

REIT    Real Estate Investment Trust

^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
b	In bankruptcy
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 $279,913,000.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

Futures contracts outstanding as of September 30, 2017 were as follows (dollar amounts are in thousands) (See Note 3):

Description	Number of long (short) contracts		Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
Russell 2000 E Mini Index		96	12/15/17	$	6,899	$	7,166	$	267
S&P 500 E Mini Index		375	12/15/17		46,966		47,177		211
S&P Mid-Cap 400 E-Mini Index		39	12/15/17		6,873		7,003		130
Total		510		$	60,738	$	61,346	$	608

296

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND
BOND MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2017

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.3%
CAPITAL GOODS - 0.0%
$	985,584	i	TransDigm, Inc	LIBOR 3 M + 3.000%		4.330	%	05/14/22	$	988
			TOTAL CAPITAL GOODS							988
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	1,050,000	i	American Airlines, Inc	LIBOR 3 M + 2.500%		3.730		12/14/23		1,052
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							1,052
CONSUMER DURABLES & APPAREL - 0.0%
	899,647	i	Hanesbrands, Inc	LIBOR 3 M + 2.500%		3.740		04/29/22		905
			TOTAL CONSUMER DURABLES & APPAREL							905
CONSUMER SERVICES - 0.0%
	496,460	i	1011778 BC / New Red Fin	LIBOR 3 M + 2.250%		3.580		02/17/24		496
	519,649	i	Boyd Gaming Corp	LIBOR 3 M + 2.500%		3.690		09/15/23		521
	1,683,379		Hilton Worldwide Finance LLC			3.237		10/25/23		1,690
	717,759	i	KFC Holding Co	LIBOR 3 M + 2.000%		3.230		06/16/23		720
			TOTAL CONSUMER SERVICES							3,427
DIVERSIFIED FINANCIALS - 0.0%
	199,000	i	Mallinckrodt International Finance S.A.	LIBOR 3 M + 2.750%		4.080		09/24/24		199
			TOTAL DIVERSIFIED FINANCIALS							199
ENERGY - 0.0%
	1,720,000	i	California Resources Corp	LIBOR 3 M + 10.375%		11.610		12/31/21		1,831
			TOTAL ENERGY							1,831
FOOD & STAPLES RETAILING - 0.0%
	207,955	i	Albertsons LLC	LIBOR 3 M + 3.000%		4.320		06/22/23		200
			TOTAL FOOD & STAPLES RETAILING							200
FOOD, BEVERAGE & TOBACCO - 0.0%
	1,995,000	i	B&G Foods, Inc	LIBOR 3 M + 2.250%		3.490		11/02/22		2,004
	997,500	i	Post Holdings, Inc	LIBOR 3 M + 2.250%		3.490		05/24/24		999
			TOTAL FOOD, BEVERAGE & TOBACCO							3,003
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	1,492,500	i	Change Healthcare Holdings LLC	LIBOR 3 M + 2.750%		3.990		03/01/24		1,496
	1,644,750	i	DaVita HealthCare Partners, Inc	LIBOR 3 M + 2.750%		3.990		06/24/21		1,654
	1,985,000	i	Envision Healthcare Corp	LIBOR 3 M + 3.000%		4.240		12/01/23		1,989
	2,480,019	i	Tennessee Merger Sub, Inc	LIBOR 3 M + 2.750%		3.990		02/06/24		2,432
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							7,571
MATERIALS - 0.1%
	990,013	i	American Builders & Contractors Supply Co, Inc	LIBOR 3 M + 2.500%		3.740		10/31/23		993

297

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	1,492,500	i	Berry Plastics Corp	LIBOR 3 M + 2.250%		3.490	%	01/19/24	$	1,493
	496,250	i	Ineos US Finance LLC	LIBOR 3 M + 2.750%		3.990		04/01/24		499
	1,419,399	i	PolyOne Corp	LIBOR 3 M + 2.000%		3.230		11/11/22		1,427
			TOTAL MATERIALS							4,412
MEDIA - 0.1%
	981,914	i	CSC Holdings LLC	LIBOR 3 M + 2.250%		3.480		07/17/25		976
	993,883	i	Lions Gate Entertainment Corp	LIBOR 3 M + 3.000%		4.240		12/08/23		1,001
	105,162	i	Mission Broadcasting, Inc	LIBOR 3 M + 2.500%		3.740		01/17/24		105
	2,087,723	i	MTL Publishing LLC	LIBOR 3 M + 2.500%		3.730		08/21/23		2,091
	840,034	i	Nexstar Broadcasting, Inc	LIBOR 3 M + 2.500%		3.740		01/17/24		842
	779,946	i	Virgin Media Bristol LLC	LIBOR 3 M + 2.750%		3.980		01/31/25		783
			TOTAL MEDIA							5,798
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	124,688	i	Endo Luxembourg Finance I Co Sarl	LIBOR 3 M + 4.250%		5.500		04/29/24		126
	2,652	h,i	Quintiles IMS, Inc	LIBOR 3 M + 2.000%		3.330		03/07/24		3
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							129
REAL ESTATE - 0.0%
	1,649,875	i	MGM Growth Properties LLC	LIBOR 3 M + 2.250%		3.490		04/25/23		1,655
			TOTAL REAL ESTATE							1,655
RETAILING - 0.0%
	2,815,647	i	PetSmart, Inc	LIBOR 3 M + 3.000%		4.240		03/11/22		2,375
			TOTAL RETAILING							2,375
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	1,485,000	i	Versum Materials, Inc	LIBOR 3 M + 2.500%		3.830		09/29/23		1,487
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							1,487
SOFTWARE & SERVICES - 0.0%
	1,419,152	i	First Data Corp	LIBOR 3 M + 2.250%		3.490		07/08/22		1,421
	99,251	i	Sabre GLBL, Inc	LIBOR 3 M + 2.250%		3.490		02/22/24		100
			TOTAL SOFTWARE & SERVICES							1,521
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	1,049,825	i	CommScope, Inc	LIBOR 3 M + 2.000%		3.482		12/29/22		1,052
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							1,052
TRANSPORTATION - 0.0%
	1,325,000	i	Avolon TLB Borrower  US LLC	LIBOR 3 M + 2.250%		3.990		03/21/22		1,328
	248,750	i	Vouvray US Finance, LLC	LIBOR 3 M + 3.000%		4.240		03/11/24		243
			TOTAL TRANSPORTATION							1,571
			TOTAL BANK LOAN OBLIGATIONS							39,176
			(Cost $39,505)
BONDS - 98.0%

298

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
CORPORATE BONDS - 34.6%
AUTOMOBILES & COMPONENTS - 0.6%
EUR	1,750,000	g	Adient Global Holdings Ltd			3.500	%	08/15/24	$	2,140
$	590,000	g	Adient Global Holdings Ltd			4.875		08/15/26		603
	960,000	g	Allison Transmission, Inc			5.000		10/01/24		996
	9,650,000	g	BMW US Capital LLC			2.000		04/11/21		9,579
	4,050,000		Delphi Automotive plc			3.150		11/19/20		4,143
EUR	1,200,000	g	Gates Global LLC			5.750		07/15/22		1,447
$	11,275,000		General Motors Co			4.200		10/01/27		11,434
	6,950,000		General Motors Co			6.600		04/01/36		8,242
	3,350,000		General Motors Co			6.250		10/02/43		3,827
	1,925,000		General Motors Co			6.750		04/01/46		2,318
	6,500,000		General Motors Co			5.400		04/01/48		6,735
	2,425,000	g	Hyundai Capital America			2.600		03/19/20		2,424
	3,850,000	g	Hyundai Capital America			2.550		04/03/20		3,843
	4,800,000	g	Hyundai Capital America			3.250		09/20/22		4,790
	200,000	g,o	IHO Verwaltungs GmbH			4.125		09/15/21		203
	200,000	g,o	IHO Verwaltungs GmbH			4.500		09/15/23		204
EUR	400,000	g,o	IHO Verwaltungs GmbH			3.750		09/15/26		500
$	8,675,000		Magna International, Inc			3.625		06/15/24		8,953
	600,000	g	Schaeffler Finance BV			4.750		05/15/23		619
	1,000,000		Tenneco, Inc			5.000		07/15/26		1,025
	175,000	g	ZF North America Capital, Inc			4.500		04/29/22		184
	2,000,000	g	ZF North America Capital, Inc			4.750		04/29/25		2,110
			TOTAL AUTOMOBILES & COMPONENTS							76,319
BANKS - 6.2%
	3,075,000	g,i	Akbank TAS	USD SWAP SEMI 30/360 5 Y + 5.026%		7.200		03/16/27		3,259
	6,000,000		Australia & New Zealand Banking Group Ltd			2.625		05/19/22		6,006
	4,000,000	g	Banco de Bogota S.A.			6.250		05/12/26		4,362
	500,000	g	Banco de Bogota S.A.			4.375		08/03/27		504
	3,000,000	g	Banco General S.A.			4.125		08/07/27		3,002
	2,500,000	g	Banco Inbursa S.A. Institucion de Banca Multiple			4.375		04/11/27		2,509
	4,825,000	g	Banco Nacional de Comercio Exterior SNC			4.375		10/14/25		5,042
	5,000,000	g	Bank Nederlandse Gemeenten			2.625		04/28/21		5,104
	15,900,000		Bank of America Corp			2.151		11/09/20		15,852
	10,200,000		Bank of America Corp			3.875		08/01/25		10,681
	200,000		Bank of America Corp			4.250		10/22/26		209
	28,050,000		Bank of America Corp			3.248		10/21/27		27,475
	26,425,000		Bank of America Corp			3.593		07/21/28		26,635
	25,000,000		Bank of Nova Scotia			2.125		09/11/19		25,074
	5,450,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd			2.350		09/08/19		5,480
	7,100,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd			3.250		09/08/24		7,214
	6,700,000		Barclays plc			3.650		03/16/25		6,715
	500,000		Barclays plc			5.200		05/12/26		534
	3,300,000	g	BNP Paribas S.A.			3.800		01/10/24		3,429
	3,225,000	g	BPCE S.A.			3.000		05/22/22		3,242
	3,200,000		Branch Banking & Trust Co			2.300		10/15/18		3,218
	11,850,000		Capital One Bank USA NA			2.950		07/23/21		12,006
	9,750,000		Capital One Bank USA NA			2.650		08/08/22		9,686
	4,500,000		Capital One Bank USA NA			3.375		02/15/23		4,565
	50,075,000		Citigroup, Inc			3.200		10/21/26		49,335
	10,850,000		Citigroup, Inc			3.668		07/24/28		10,931
	175,000		Citigroup, Inc			4.650		07/30/45		194

299

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	10,000,000		Citigroup, Inc			5.350	%	12/30/49	$	10,383
	7,400,000		Citizens Bank NA			2.650		05/26/22		7,400
	6,500,000		Compass Bank			2.875		06/29/22		6,467
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA			3.950		11/09/22		7,213
	13,700,000		Cooperatieve Rabobank UA			2.500		01/19/21		13,838
	29,900,000		Cooperatieve Rabobank UA			3.750		07/21/26		30,323
	4,900,000	g	Cooperatieve Rabobank UA			11.000		12/30/49		5,537
	4,825,000	g	Credit Agricole S.A.			2.500		04/15/19		4,870
	5,500,000	g	Credit Agricole S.A.			2.375		07/01/21		5,498
	7,750,000	g	Credit Agricole S.A.			3.250		10/04/24		7,757
	3,800,000	g	DBS Group Holdings Ltd			2.246		07/16/19		3,805
EUR	500,000		Deutsche Bank AG.			1.250		09/08/21		606
$	4,875,000		Discover Bank			3.200		08/09/21		4,972
	1,400,000		Discover Bank			3.450		07/27/26		1,376
EUR	1,000,000		FCE Bank plc			1.134		02/10/22		1,201
$	7,350,000	g	HSBC Bank plc			4.125		08/12/20		7,741
	5,150,000		HSBC Holdings plc			2.650		01/05/22		5,160
	13,075,000		HSBC Holdings plc			3.262		03/13/23		13,342
	250,000		HSBC Holdings plc			4.250		08/18/25		260
	11,825,000		HSBC Holdings plc			3.900		05/25/26		12,371
	3,825,000		HSBC Holdings plc			4.375		11/23/26		3,988
	6,450,000		HSBC Holdings plc			4.041		03/13/28		6,733
	100,000		HSBC Holdings plc			5.250		03/14/44		117
	3,300,000	i	HSBC Holdings plc	USD ICE SWAP 11:00 NY 5 Y + 3.746%		6.000		12/30/49		3,451
	5,000,000		HSBC USA, Inc			1.625		01/16/18		5,002
	100,000		Huntington National Bank			2.875		08/20/20		102
	13,025,000		Huntington National Bank			2.500		08/07/22		12,948
EUR	600,000		Intesa Sanpaolo S.p.A			3.500		01/17/22		797
$	12,925,000		JPMorgan Chase & Co			2.750		06/23/20		13,168
	16,725,000		JPMorgan Chase & Co			2.295		08/15/21		16,708
	10,850,000		JPMorgan Chase & Co			2.776		04/25/23		10,906
	4,850,000		JPMorgan Chase & Co			2.700		05/18/23		4,850
	20,400,000		JPMorgan Chase & Co			3.200		06/15/26		20,242
	21,275,000		JPMorgan Chase & Co			2.950		10/01/26		20,813
	5,750,000		JPMorgan Chase & Co			3.882		07/24/38		5,785
	200,000		JPMorgan Chase & Co			4.950		06/01/45		227
	3,750,000		JPMorgan Chase & Co			5.150		12/30/49		3,891
	2,700,000		KeyBank NA			2.500		12/15/19		2,731
	9,875,000		KeyBank NA			2.300		09/14/22		9,782
	3,325,000		Lloyds Banking Group plc			3.000		01/11/22		3,352
	4,475,000	g	Macquarie Bank Ltd			2.600		06/24/19		4,510
	9,950,000		Manufacturers & Traders Trust Co			2.100		02/06/20		9,958
	13,000,000		Mitsubishi UFJ Financial Group, Inc			3.287		07/25/27		12,939
	13,600,000		National Australia Bank Ltd			2.500		07/12/26		12,933
	10,400,000		PNC Bank NA			2.200		01/28/19		10,454
	11,475,000		PNC Bank NA			2.250		07/02/19		11,560
	17,000,000		PNC Bank NA			2.600		07/21/20		17,255
	10,950,000		PNC Bank NA			2.700		11/01/22		11,027
	17,395,000		PNC Bank NA			2.950		01/30/23		17,598
	6,000,000		PNC Financial Services Group, Inc			3.900		04/29/24		6,313
	40,000,000		Royal Bank of Canada			1.875		02/05/20		39,901
	4,825,000	g	Santander Holdings USA, Inc			4.400		07/13/27		4,924

300

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	15,000,000	g	Skandinaviska Enskilda Banken AB			1.375	%	05/29/18	$	14,970
	13,100,000	g	Skandinaviska Enskilda Banken AB			2.625		11/17/20		13,271
	3,800,000		Sumitomo Mitsui Banking Corp			2.500		07/19/18		3,826
	6,650,000		Sumitomo Mitsui Banking Corp			2.450		01/16/20		6,702
	4,025,000		Sumitomo Mitsui Banking Corp			3.650		07/23/25		4,172
	13,875,000		Sumitomo Mitsui Financial Group, Inc			2.442		10/19/21		13,802
	6,850,000		SunTrust Banks, Inc			2.900		03/03/21		6,966
	5,700,000		SunTrust Banks, Inc			2.750		05/01/23		5,672
	2,725,000		Synchrony Bank			3.000		06/15/22		2,717
	3,500,000	g	TC Ziraat Bankasi AS.			5.125		09/29/23		3,500
	5,000,000		Toronto-Dominion Bank			1.450		09/06/18		4,993
	13,700,000		Toronto-Dominion Bank			1.850		09/11/20		13,641
	2,350,000	i	Toronto-Dominion Bank	USD SWAP SEMI 30/360 5 Y + 2.205%		3.625		09/15/31		2,339
	2,100,000	g	Turkiye Is Bankasi			5.500		04/21/22		2,134
	4,950,000	g	Turkiye Is Bankasi			6.125		04/25/24		5,068
	5,700,000		UnionBanCal Corp			3.500		06/18/22		5,889
	17,650,000		US Bank NA			2.800		01/27/25		17,531
	10,000,000	g	Westpac Banking Corp			1.850		11/26/18		10,003
	8,475,000	i	Westpac Banking Corp	ISR USD 11:00 5 Y + 2.236%		4.322		11/23/31		8,704
	3,875,000	i	Westpac Banking Corp	ISR USD 11:00 5 Y + 2.888%		5.000		12/30/49		3,870
	600,000	g	Yapi ve Kredi Bankasi AS.			5.850		06/21/24		604
			TOTAL BANKS							857,722
CAPITAL GOODS - 1.0%
	500,000	g	Adani Ports & Special Economic Zone Ltd			3.950		01/19/22		513
	4,850,000	g	Adani Ports & Special Economic Zone Ltd			4.000		07/30/27		4,829
	7,175,000		Air Lease Corp			3.875		04/01/21		7,492
GBP	1,000,000		BAE Systems plc			4.125		06/08/22		1,488
EUR	290,000		Bayer AG.			1.875		01/25/21		363
$	2,075,000		Eaton Corp			4.000		11/02/32		2,156
	250,000		Eaton Corp			4.150		11/02/42		251
	4,350,000		Embraer Netherlands Finance BV			5.400		02/01/27		4,711
	3,300,000		General Electric Co			5.250		12/06/17		3,323
	4,075,000		General Electric Co			4.125		10/09/42		4,296
GBP	650,000		Glencore Finance Europe S.A.			6.500		02/27/19		933
$	1,300,000	g	Huntington Ingalls Industries, Inc			5.000		12/15/21		1,339
EUR	1,000,000		Illinois Tool Works, Inc			1.250		05/22/23		1,228
	600,000		Johnson Controls International plc			1.000		09/15/23		712
$	500,000		KLA-Tencor Corp			4.125		11/01/21		528
	8,350,000		Lockheed Martin Corp			2.500		11/23/20		8,473
	5,200,000		Lockheed Martin Corp			3.550		01/15/26		5,380
	6,375,000	g	Molex Electronic Technologies LLC			2.878		04/15/20		6,415
	9,825,000	g	Molex Electronic Technologies LLC			3.900		04/15/25		10,057
	3,000,000	g	Myriad International Holdings BV			4.850		07/06/27		3,101
	8,250,000	g	Parker-Hannifin Corp			3.250		03/01/27		8,307
	4,925,000		Rockwell Automation, Inc			2.050		03/01/20		4,904
	8,725,000		Rockwell Collins, Inc			3.500		03/15/27		8,892
	1,000,000		Rockwell Collins, Inc			4.350		04/15/47		1,035
	3,375,000		Roper Technologies, Inc			3.800		12/15/26		3,473
	11,300,000	g	Siemens Financieringsmaatschappij NV			1.700		09/15/21		11,098

301

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	11,300,000	g	Siemens Financieringsmaatschappij NV		2.350	%	10/15/26	$	10,685
	350,000	g	Stena AB		7.000		02/01/24		335
	2,075,000		Textron, Inc		3.875		03/01/25		2,152
	12,950,000		Timken Co		3.875		09/01/24		13,073
	5,200,000	g	TSMC Global Ltd		1.625		04/03/18		5,191
	8,225,000		United Technologies Corp		3.750		11/01/46		7,927
			TOTAL CAPITAL GOODS						144,660
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
	500,000		AECOM		5.750		10/15/22		521
	4,875,000		AECOM		5.875		10/15/24		5,400
	10,290,000		Republic Services, Inc		3.800		05/15/18		10,419
	11,102,000		Republic Services, Inc		3.550		06/01/22		11,571
	6,625,000		Republic Services, Inc		3.200		03/15/25		6,676
	8,171,000		Republic Services, Inc		2.900		07/01/26		8,001
	2,000,000		United Rentals North America, Inc		4.625		07/15/23		2,087
	1,600,000		United Rentals North America, Inc		4.875		01/15/28		1,606
	6,425,000		Visa, Inc		3.650		09/15/47		6,366
	9,650,000		Waste Management, Inc		2.900		09/15/22		9,816
	1,850,000		Waste Management, Inc		2.400		05/15/23		1,828
	2,000,000		Waste Management, Inc		3.900		03/01/35		2,068
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,349
EUR	850,000	g	XPO Logistics, Inc		5.750		06/15/21		1,042
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						69,750
CONSUMER DURABLES & APPAREL - 0.2%
$	3,000,000		Lennar Corp		4.750		04/01/21		3,157
	3,850,000		Newell Rubbermaid, Inc		3.150		04/01/21		3,938
	6,175,000		Newell Rubbermaid, Inc		4.200		04/01/26		6,500
	500,000		PulteGroup, Inc		4.250		03/01/21		519
	1,000,000		PulteGroup, Inc		5.500		03/01/26		1,090
	6,900,000		PVH Corp		4.500		12/15/22		7,055
	2,625,000		Whirlpool Corp		3.700		03/01/23		2,723
EUR	1,125,000		Whirlpool Finance Luxembourg Sarl		1.250		11/02/26		1,344
$	250,000		Xerox Corp		3.625		03/15/23		248
			TOTAL CONSUMER DURABLES & APPAREL						26,574
CONSUMER SERVICES - 1.1%
	2,165,000	g	1011778 BC ULC / New Red Finance Inc		4.250		05/15/24		2,173
	1,425,000		ADT Corp		6.250		10/15/21		1,580
	1,390,000		ADT Corp		3.500		07/15/22		1,390
	11,000,000		Amherst College		4.100		11/01/45		11,887
EUR	1,430,000	g	Aramark International Finance Sarl		3.125		04/01/25		1,762
$	2,500,000	g	Aramark Services, Inc		5.000		04/01/25		2,675
	2,000,000		Aramark Services, Inc		4.750		06/01/26		2,106
	3,400,000	g	Arcos Dorados Holdings, Inc		5.875		04/04/27		3,571
	2,000,000		Duke University		3.199		10/01/38		1,931
	16,000,000		George Washington University		3.545		09/15/46		15,131
	1,000,000		Hilton Domestic Operating Co, Inc		4.250		09/01/24		1,020
	2,250,000		Hilton Worldwide Finance LLC		4.625		04/01/25		2,318
	1,610,000	g	International Game Technology		6.250		02/15/22		1,780
	1,610,000	g	International Game Technology		6.500		02/15/25		1,809
EUR	1,250,000		International Game Technology plc		4.750		02/15/23		1,647

302

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	5,000,000		Johns Hopkins University			4.083	%	07/01/53	$	5,320
	750,000		MGM Resorts International			4.625		09/01/26		759
	8,000,000		President and Fellows of Harvard College			3.529		10/01/31		8,373
	14,250,000		President and Fellows of Harvard College			3.619		10/01/37		14,837
	10,000,000	g	Prime Security Services Borrower LLC			9.250		05/15/23		11,036
	10,000,000		Princeton University			3.840		07/01/48		10,669
	750,000		Scientific Games International, Inc			10.000		12/01/22		831
	3,600,000	g	ServiceMaster Co LLC			5.125		11/15/24		3,699
	15,000,000		Smith College			4.620		07/01/45		17,233
	6,600,000		Trustees of Dartmouth College			3.474		06/01/46		6,531
	21,000,000		University of Chicago			4.151		10/01/45		21,420
			TOTAL CONSUMER SERVICES							153,488
DIVERSIFIED FINANCIALS - 4.0%
	500,000		AerCap Ireland Capital Ltd			5.000		10/01/21		539
	2,800,000		Aircastle Ltd			4.125		05/01/24		2,898
	10,625,000		American Express Co			2.500		08/01/22		10,610
	2,425,000		American Express Credit Corp			2.700		03/03/22		2,453
	9,775,000		American Express Credit Corp			3.300		05/03/27		9,863
	4,125,000		Bank of New York Mellon Corp			5.450		05/15/19		4,358
	10,500,000		Bank of New York Mellon Corp			2.500		04/15/21		10,603
	11,550,000	g	Bayer US Finance LLC			2.375		10/08/19		11,615
	8,100,000	g	Bayer US Finance LLC			3.375		10/08/24		8,244
	300,000	g,i	BBVA Bancomer S.A.	DGS5 + 3.000%		5.350		11/12/29		304
	10,525,000		Berkshire Hathaway, Inc			3.125		03/15/26		10,640
	250,000		Capital One Financial Corp			3.050		03/09/22		253
	9,800,000		Capital One Financial Corp			3.750		03/09/27		9,904
	7,175,000		Credit Suisse			2.300		05/28/19		7,223
	250,000		Credit Suisse			3.625		09/09/24		260
	9,800,000	g	Credit Suisse Group AG.			2.997		12/14/23		9,768
	3,900,000	g	Credit Suisse Group AG.			4.282		01/09/28		4,061
EUR	1,250,000		Credit Suisse Group Funding Guernsey Ltd			1.250		04/14/22		1,518
$	7,700,000		Credit Suisse Group Funding Guernsey Ltd			3.800		06/09/23		7,968
	10,250,000		Credit Suisse Group Funding Guernsey Ltd			3.750		03/26/25		10,437
	13,800,000	g	Daimler Finance North America LLC			2.200		10/30/21		13,642
	100,000		Discover Financial Services			3.950		11/06/24		102
	7,325,000	g	EDP Finance BV			3.625		07/15/24		7,385
	4,975,000		Ford Motor Credit Co LLC			2.425		06/12/20		4,975
	29,100,000		Ford Motor Credit Co LLC			3.200		01/15/21		29,680
	16,100,000		Ford Motor Credit Co LLC			4.134		08/04/25		16,533
	4,978,000		GE Capital International Funding Co			4.418		11/15/35		5,426
	1,432,000		General Electric Capital Corp			5.875		01/14/38		1,873
	108,000		General Electric Capital Corp			6.875		01/10/39		158
	6,500,000		General Motors Financial Co, Inc			3.950		04/13/24		6,655
	300,000		General Motors Financial Co, Inc			4.300		07/13/25		310
EUR	1,085,000		General Motors Financial International BV			1.875		10/15/19		1,330
$	11,075,000		Goldman Sachs Group, Inc			2.375		01/22/18		11,101
EUR	950,000		Goldman Sachs Group, Inc			2.000		07/27/23		1,188
$	13,575,000		Goldman Sachs Group, Inc			3.500		01/23/25		13,768
	3,600,000		Goldman Sachs Group, Inc			3.691		06/05/28		3,630
	7,675,000		Goldman Sachs Group, Inc			4.800		07/08/44		8,585
	100,000		Goldman Sachs Group, Inc			5.150		05/22/45		114
	14,925,000		Goldman Sachs Group, Inc			4.750		10/21/45		16,649

303

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,800,000	g	GrupoSura Finance S.A.		5.500	%	04/29/26	$	4,152
	2,300,000	g	GTH Finance BV		7.250		04/26/23		2,609
	1,725,000		Icahn Enterprises LP		5.875		02/01/22		1,777
	2,000,000	g	ICICI Bank Ltd		3.500		03/18/20		2,034
	2,000,000		ICICI Bank Ltd		3.125		08/12/20		2,019
	8,400,000		International Lease Finance Corp		3.875		04/15/18		8,493
	3,200,000		International Lease Finance Corp		5.875		04/01/19		3,371
	5,000,000		International Lease Finance Corp		5.875		08/15/22		5,597
	250,000		Jefferies Group, Inc		6.450		06/08/27		289
	1,625,000		Legg Mason, Inc		2.700		07/15/19		1,644
	2,400,000		Legg Mason, Inc		3.950		07/15/24		2,458
EUR	850,000	g	Lincoln Finance Ltd		6.875		04/15/21		1,066
$	2,050,000	g	LUKOIL International Finance BV		4.563		04/24/23		2,129
	21,500,000		Morgan Stanley		1.875		01/05/18		21,521
	8,925,000		Morgan Stanley		2.750		05/19/22		8,959
	24,800,000		Morgan Stanley		3.700		10/23/24		25,684
	23,475,000		Morgan Stanley		3.125		07/27/26		23,016
	8,225,000		Morgan Stanley		3.625		01/20/27		8,339
	3,800,000		National Rural Utilities Cooperative Finance Corp		10.375		11/01/18		4,145
	6,500,000	g	Nederlandse Waterschapsbank NV		1.875		03/13/19		6,517
	5,000,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		4,942
	6,575,000		ORIX Corp		2.900		07/18/22		6,598
	6,500,000		Raymond James Financial, Inc		4.950		07/15/46		6,986
	24,200,000		Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		23,847
	6,625,000		TD Ameritrade Holding Corp		3.300		04/01/27		6,690
	6,800,000	g	UBS Group Funding Jersey Ltd		2.950		09/24/20		6,905
	11,600,000	g	UBS Group Funding Jersey Ltd		2.650		02/01/22		11,551
	9,775,000		Unilever Capital Corp		2.900		05/05/27		9,652
	21,000,000		Wells Fargo & Co		2.100		07/26/21		20,801
	28,750,000		Wells Fargo & Co		2.625		07/22/22		28,797
	10,825,000		Wells Fargo & Co		3.069		01/24/23		11,007
EUR	500,000		Wells Fargo & Co		1.375		10/26/26		593
$	10,450,000		Wells Fargo & Co		3.584		05/22/28		10,580
			TOTAL DIVERSIFIED FINANCIALS						551,391
ENERGY - 2.9%
	2,375,000		AmeriGas Partners LP		5.625		05/20/24		2,503
	2,050,000		AmeriGas Partners LP		5.875		08/20/26		2,132
	4,200,000		Anadarko Petroleum Corp		5.550		03/15/26		4,683
	4,150,000		Ashland, Inc		4.750		08/15/22		4,383
	16,500,000		BP Capital Markets plc		1.375		05/10/18		16,490
	13,300,000		BP Capital Markets plc		2.315		02/13/20		13,414
	3,800,000		BP Capital Markets plc		2.520		09/19/22		3,803
	7,500,000		BP Capital Markets plc		3.588		04/14/27		7,712
	6,575,000		BP Capital Markets plc		3.279		09/19/27		6,562
	699,000	g	California Resources Corp		8.000		12/15/22		454
	478,000		California Resources Corp		6.000		11/15/24		217
	9,500,000		Canadian Natural Resources Ltd		3.850		06/01/27		9,596
	6,500,000	g	Cenovus Energy, Inc		5.400		06/15/47		6,515
	2,375,000		Crestwood Midstream Partners LP		5.750		04/01/25		2,425
	6,250,000		Devon Energy Corp		4.750		05/15/42		6,324
	6,000,000		Ecopetrol S.A.		5.375		06/26/26		6,390
	650,000	g	Empresa Nacional del Petroleo		3.750		08/05/26		650
	2,000,000	g	Empresa Nacional del Petroleo		4.500		09/14/47		1,919

304

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,475,000		EnCana Corp		3.900	%	11/15/21	$	5,641
	7,375,000		EnLink Midstream Partners LP		4.850		07/15/26		7,714
	5,125,000		Enterprise Products Operating LLC		3.700		02/15/26		5,262
	4,775,000		Enterprise Products Operating LLC		4.450		02/15/43		4,906
	1,925,000		Enterprise Products Operating LLC		4.850		03/15/44		2,066
	9,700,000		EQT Corp		3.900		10/01/27		9,697
	2,250,000		Exterran Partners LP		6.000		10/01/22		2,188
	4,750,000		Exxon Mobil Corp		2.222		03/01/21		4,785
	1,250,000		Ferrellgas Partners LP		6.500		05/01/21		1,212
	750,000		Ferrellgas Partners LP		6.750		01/15/22		727
	3,400,000		Hess Corp		4.300		04/01/27		3,383
	2,739,000		Husky Energy, Inc		3.950		04/15/22		2,859
	2,825,000		Kinder Morgan, Inc		9.000		02/01/19		3,069
EUR	1,000,000		Kinder Morgan, Inc		2.250		03/16/27		1,213
$	2,215,000		Kinder Morgan, Inc		5.300		12/01/34		2,312
	4,850,000		Kinder Morgan, Inc		5.400		09/01/44		5,039
	3,200,000		Magellan Midstream Partners LP		4.200		10/03/47		3,143
	5,030,000		Marathon Oil Corp		2.700		06/01/20		5,029
	3,000,000		Marathon Oil Corp		5.200		06/01/45		3,020
	2,950,000		Marathon Petroleum Corp		4.750		09/15/44		2,933
	200,000	g	NGPL PipeCo LLC		4.375		08/15/22		207
	2,625,000		Noble Energy, Inc		5.625		05/01/21		2,704
	900,000		Noble Energy, Inc		3.900		11/15/24		921
	9,500,000		Noble Energy, Inc		3.850		01/15/28		9,515
	10,850,000		ONE Gas, Inc		2.070		02/01/19		10,865
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,640
	5,125,000	g	Pertamina Persero PT		4.300		05/20/23		5,371
	12,340,000		Petrobras Global Finance BV		6.125		01/17/22		13,265
	2,335,000	g	Petrobras Global Finance BV		5.999		01/27/28		2,335
	750,000		Petrobras Global Finance BV		7.250		03/17/44		781
	3,400,000		Petroleos Mexicanos		5.500		02/04/19		3,543
	6,750,000		Petroleos Mexicanos		6.375		02/04/21		7,395
	1,500,000		Petroleos Mexicanos		4.875		01/24/22		1,573
	825,000	g	Petroleos Mexicanos		5.375		03/13/22		881
EUR	375,000		Petroleos Mexicanos		1.875		04/21/22		450
$	11,000,000		Petroleos Mexicanos		1.950		12/20/22		10,989
	5,885,000		Petroleos Mexicanos		2.000		12/20/22		5,859
	9,000,000		Petroleos Mexicanos		3.500		01/30/23		8,865
	3,900,000		Petroleos Mexicanos		4.500		01/23/26		3,893
	1,775,000	g	Petroleos Mexicanos		6.500		03/13/27		1,971
	4,500,000		Petroleos Mexicanos		6.500		06/02/41		4,705
	4,180,000		Petroleos Mexicanos		5.500		06/27/44		3,898
	1,800,000		Petroleos Mexicanos		6.750		09/21/47		1,915
	5,225,000		Phillips 66		4.875		11/15/44		5,691
	614,000		Pioneer Natural Resources Co		7.500		01/15/20		683
	8,675,000		Pioneer Natural Resources Co		3.450		01/15/21		8,868
	6,850,000		Pioneer Natural Resources Co		4.450		01/15/26		7,301
	6,250,000		Plains All American Pipeline LP		4.500		12/15/26		6,341
	2,940,000		QEP Resources, Inc		5.375		10/01/22		2,889
	1,250,000		Questar Market Resources, Inc		6.875		03/01/21		1,316
	3,335,000	g	Range Resources Corp		5.000		08/15/22		3,331
	1,200,000		Regency Energy Partners LP		4.500		11/01/23		1,257
	2,000,000	g	Reliance Holdings USA		4.500		10/19/20		2,112

305

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	2,375,000	g	Reliance Holdings USA			5.400	%	02/14/22	$	2,609
	9,875,000		Sabine Pass Liquefaction LLC			4.200		03/15/28		9,950
	6,000,000		Shell International Finance BV			2.375		08/21/22		6,015
	4,875,000		Shell International Finance BV			3.250		05/11/25		4,990
EUR	500,000		Shell International Finance BV			1.875		09/15/25		639
$	6,825,000		Shell International Finance BV			4.000		05/10/46		6,898
	5,000,000		Southwestern Energy Co			4.100		03/15/22		4,825
	2,075,000		Statoil ASA			1.200		01/17/18		2,074
	5,300,000		Statoil ASA			2.450		01/17/23		5,289
	250,000		Suncor Energy, Inc			3.600		12/01/24		258
	6,500,000		Sunoco Logistics Partners Operations LP			4.000		10/01/27		6,473
	10,800,000		Sunoco Logistics Partners Operations LP			5.350		05/15/45		10,787
	600,000		Targa Resources Partners LP			5.125		02/01/25		618
	100,000	g	Tesoro Corp			5.125		12/15/26		110
EUR	600,000		Total Capital International S.A.			2.500		03/25/26		804
$	3,400,000		TransCanada PipeLines Ltd			5.850		03/15/36		4,204
	2,750,000	i	TransCanada PipeLines Ltd	LIBOR 3 M + 2.210%		3.525		05/15/67		2,543
	2,500,000		Vale Overseas Ltd			6.250		08/10/26		2,844
	2,760,000		Vale Overseas Ltd			6.875		11/21/36		3,160
	350,000		WPX Energy, Inc			8.250		08/01/23		392
	2,400,000		WPX Energy, Inc			5.250		09/15/24		2,406
	400,000	g	YPF S.A.			8.500		03/23/21		449
	3,500,000	g	YPF S.A.			8.500		07/28/25		4,033
	2,375,000	g	YPF S.A.			6.950		07/21/27		2,517
			TOTAL ENERGY							402,587
FOOD & STAPLES RETAILING - 0.4%
	350,000	g	Adecoagro S.A.			6.000		09/21/27		348
	5,200,000	g	Cencosud S.A.			4.375		07/17/27		5,223
	575,000	g	CK Hutchison International 17 Ltd			2.250		09/29/20		573
	10,030,000		CVS Health Corp			3.875		07/20/25		10,458
	15,950,000		CVS Health Corp			2.875		06/01/26		15,403
	150,000		CVS Health Corp			5.125		07/20/45		172
	4,900,000		Ingles Markets, Inc			5.750		06/15/23		4,790
	5,575,000		Kroger Co			3.700		08/01/27		5,515
EUR	1,000,000		SYSCO Corp			1.250		06/23/23		1,212
$	4,600,000		SYSCO Corp			3.250		07/15/27		4,584
	2,925,000		Walgreens Boots Alliance, Inc			3.800		11/18/24		3,021
	5,125,000		Walgreens Boots Alliance, Inc			3.450		06/01/26		5,106
			TOTAL FOOD & STAPLES RETAILING							56,405
FOOD, BEVERAGE & TOBACCO - 1.0%
	4,916,000	g	Anadolu Efes Biracilik Ve Malt Sanayii AS.			3.375		11/01/22		4,809
	13,700,000		Anheuser-Busch InBev Finance, Inc			2.650		02/01/21		13,919
	10,275,000		Anheuser-Busch InBev Finance, Inc			3.300		02/01/23		10,650
	2,910,000		Anheuser-Busch InBev Finance, Inc			3.650		02/01/26		3,009
	14,775,000		Anheuser-Busch InBev Worldwide, Inc			2.500		07/15/22		14,893
	5,575,000		Anheuser-Busch InBev Worldwide, Inc			4.950		01/15/42		6,310
	13,025,000	g	BAT Capital Corp			3.557		08/15/27		13,065
	9,750,000		Constellation Brands, Inc			6.000		05/01/22		11,145
	3,000,000	g	Corp Lindley S.A.			4.625		04/12/23		3,098
	3,500,000	g	Cosan Ltd			5.950		09/20/24		3,584
EUR	465,000		Heineken NV			2.875		08/04/25		628
$	8,425,000	g	Heineken NV			3.500		01/29/28		8,595

306

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,600,000	g	Heineken NV		4.350	%	03/29/47	$	3,810
	150,000		JM Smucker Co		4.375		03/15/45		157
	200,000		Kraft Heinz Foods Co		5.200		07/15/45		219
	213,000	g	Lamb Weston Holdings, Inc		4.625		11/01/24		222
	210,000	g	Lamb Weston Holdings, Inc		4.875		11/01/26		221
	4,115,000		Mead Johnson Nutrition Co		4.900		11/01/19		4,373
	3,650,000		Mead Johnson Nutrition Co		3.000		11/15/20		3,749
	12,075,000		PepsiCo, Inc		3.450		10/06/46		11,482
	6,850,000	g	Pernod-Ricard S.A.		4.250		07/15/22		7,357
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		2,130
	6,000,000		Tyson Foods, Inc		3.550		06/02/27		6,066
			TOTAL FOOD, BEVERAGE & TOBACCO						133,491
HEALTH CARE EQUIPMENT & SERVICES - 0.8%
	17,775,000		Becton Dickinson and Co		3.700		06/06/27		17,914
	400,000		Becton Dickinson and Co		4.685		12/15/44		423
	13,400,000		Cardinal Health, Inc		3.410		06/15/27		13,440
	1,175,000		CHS/Community Health Systems		6.250		03/31/23		1,160
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,919
	13,800,000		Express Scripts Holding Co		3.400		03/01/27		13,599
	2,060,000		HCA, Inc		6.500		02/15/20		2,243
	4,575,000		HCA, Inc		5.875		03/15/22		5,067
	2,500,000		HCA, Inc		4.500		02/15/27		2,556
	6,055,000		Johns Hopkins Health System Corp		3.837		05/15/46		6,119
	200,000		Laboratory Corp of America Holdings		3.600		02/01/25		204
EUR	500,000		McKesson Corp		1.500		11/17/25		602
$	9,625,000		Medtronic, Inc		4.625		03/15/45		10,949
	5,000,000		New York and Presbyterian Hospital		3.563		08/01/36		4,883
	2,000,000		Tenet Healthcare Corp		4.375		10/01/21		2,027
	2,700,000		Thermo Fisher Scientific, Inc		2.400		02/01/19		2,718
	3,100,000		Thermo Fisher Scientific, Inc		3.300		02/15/22		3,205
	4,325,000		Thermo Fisher Scientific, Inc		3.150		01/15/23		4,400
EUR	150,000		Thermo Fisher Scientific, Inc		1.400		01/23/26		177
$	4,000,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		3,913
	4,950,000		Thermo Fisher Scientific, Inc		3.200		08/15/27		4,871
EUR	300,000		Thermo Fisher Scientific, Inc		1.950		07/24/29		354
	500,000		Thermo Fisher Scientific, Inc		2.875		07/24/37		593
$	6,500,000		Thermo Fisher Scientific, Inc		4.100		08/15/47		6,513
	3,745,000		Zimmer Holdings, Inc		3.550		04/01/25		3,780
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						115,629
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	7,175,000		Clorox Co		3.800		11/15/21		7,530
	4,900,000		Clorox Co		3.500		12/15/24		5,057
	4,525,000		Ecolab, Inc		1.450		12/08/17		4,524
	1,300,000		Ecolab, Inc		2.700		11/01/26		1,249
	1,300,000		Ecolab, Inc		3.700		11/01/46		1,227
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						19,587
INSURANCE - 1.4%
	6,250,000		ACE INA Holdings, Inc		2.875		11/03/22		6,364
	1,925,000		Aetna, Inc		6.625		06/15/36		2,608

307

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	5,500,000		Allstate Corp			3.280	%	12/15/26	$	5,597
	8,500,000		Allstate Corp			5.750		08/15/53		9,329
	2,700,000		American Financial Group, Inc			3.500		08/15/26		2,701
	7,825,000		American International Group, Inc			2.300		07/16/19		7,863
	11,850,000		American International Group, Inc			3.300		03/01/21		12,207
EUR	650,000		American International Group, Inc			1.500		06/08/23		793
$	2,500,000		American International Group, Inc			3.750		07/10/25		2,581
	5,500,000		Aon plc			3.500		06/14/24		5,667
	6,150,000		Aon plc			3.875		12/15/25		6,470
	19,230,000		Children’s Hospital Medic			4.268		05/15/44		20,453
	1,390,000		Cigna Corp			5.125		06/15/20		1,495
	6,900,000		Cigna Corp			4.500		03/15/21		7,350
	3,525,000		CNA Financial Corp			3.950		05/15/24		3,673
	3,050,000		CNA Financial Corp			3.450		08/15/27		3,025
	7,500,000	g,i	Cranberry RE Ltd	LIBOR 6 M + 1.600%		3.049		07/13/20		7,534
	5,575,000	g	Five Corners Funding Trust			4.419		11/15/23		6,037
	1,350,000		Hartford Financial Services Group, Inc			4.300		04/15/43		1,398
	6,250,000		Humana, Inc			3.950		03/15/27		6,534
	3,300,000	g	Liberty Mutual Group, Inc			4.250		06/15/23		3,524
EUR	1,250,000		Liberty Mutual Group, Inc			2.750		05/04/26		1,594
$	400,000		Marsh & McLennan Cos, Inc			4.800		07/15/21		433
	1,600,000		Marsh & McLennan Cos, Inc			3.500		06/03/24		1,659
	1,365,000		Marsh & McLennan Cos, Inc			3.500		03/10/25		1,411
	3,225,000		Mercury General Corp			4.400		03/15/27		3,316
	4,325,000		MetLife, Inc			3.600		11/13/25		4,495
	8,050,000		Prudential Financial, Inc			7.375		06/15/19		8,778
	3,000,000	g	Prudential Funding LLC			6.750		09/15/23		3,559
	4,250,000		Travelers Cos, Inc			5.800		05/15/18		4,361
	4,775,000		Travelers Cos, Inc			4.000		05/30/47		4,944
	6,650,000		UnitedHealth Group, Inc			3.750		07/15/25		7,054
	3,050,000		UnitedHealth Group, Inc			3.100		03/15/26		3,084
	4,675,000		UnitedHealth Group, Inc			3.450		01/15/27		4,837
	4,575,000		UnitedHealth Group, Inc			4.250		04/15/47		4,935
	6,750,000		WellPoint, Inc			3.125		05/15/22		6,891
	50,000		WellPoint, Inc			4.625		05/15/42		54
	500,000		Willis Group Holdings plc			5.750		03/15/21		549
	2,400,000		WR Berkley Corp			5.375		09/15/20		2,589
			TOTAL INSURANCE							187,746
MATERIALS - 1.3%
	2,950,000		Agrium, Inc			3.375		03/15/25		2,967
	2,925,000		Agrium, Inc			4.125		03/15/35		2,970
	500,000		Agrium, Inc			5.250		01/15/45		573
	11,200,000	g	Air Liquide Finance S.A.			1.750		09/27/21		10,947
	6,630,000		Air Products & Chemicals, Inc			4.375		08/21/19		6,950
	3,349,000		Albemarle Corp			5.450		12/01/44		3,882
EUR	850,000		Axalta Coating Systems Dutch Holding BV			37.500		01/15/25		1,049
$	1,365,000		Ball Corp			5.000		03/15/22		1,478
EUR	250,000		Ball Corp			4.375		12/15/23		337
$	1,825,000		Barrick Gold Corp			3.850		04/01/22		1,936
	3,200,000		BHP Billiton Finance USA Ltd			5.000		09/30/43		3,782
	2,500,000		Blue Cube Spinco, Inc			9.750		10/15/23		3,038
	1,425,000		Blue Cube Spinco, Inc			10.000		10/15/25		1,740
	1,475,000	g	Cemex SAB de C.V.			7.750		04/16/26		1,695

308

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,550,000		Corning, Inc		1.450	%	11/15/17	$	3,548
JPY	100,000,000		Corning, Inc		0.992		08/10/27		883
$	2,275,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.875		11/03/21		2,379
	2,375,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.000		07/17/22		2,388
	3,900,000	g	Corp Nacional del Cobre de Chile-CODELCO		4.500		09/16/25		4,173
	3,900,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.625		08/01/27		3,889
	3,250,000	g	CRH America Finance, Inc		3.400		05/09/27		3,263
	1,390,000		Crown Americas LLC		4.500		01/15/23		1,463
	1,875,000		Crown Americas LLC		4.250		09/30/26		1,894
	1,000,000		Eastman Chemical Co		5.500		11/15/19		1,068
	1,100,000	g	Eldorado Gold Corp		6.125		12/15/20		1,118
	2,800,000	g	Equate Petrochemical BV		3.000		03/03/22		2,776
	3,250,000	g	Georgia-Pacific LLC		3.600		03/01/25		3,357
	4,250,000	g	Glencore Funding LLC		4.625		04/29/24		4,503
	6,500,000	g	Glencore Funding LLC		4.000		03/27/27		6,537
	4,000,000	g	Grupo Cementos de Chihuahua SAB de C.V.		5.250		06/23/24		4,160
	9,000,000		International Paper Co		3.000		02/15/27		8,739
	1,625,000		International Paper Co		4.400		08/15/47		1,643
	3,300,000		International Paper Co		4.350		08/15/48		3,335
	4,800,000	g	Inversiones CMPC S.A.		4.375		04/04/27		4,888
	3,850,000	g	Klabin Finance S.A.		4.875		09/19/27		3,821
	3,250,000		LYB International Finance II BV		3.500		03/02/27		3,231
	2,400,000		Newmont Mining Corp		3.500		03/15/22		2,482
	6,900,000		Newmont Mining Corp		4.875		03/15/42		7,378
	2,500,000	g	Nova Chemicals Corp		4.875		06/01/24		2,531
	2,590,000		Nucor Corp		4.000		08/01/23		2,746
	1,600,000		Nucor Corp		5.200		08/01/43		1,861
	3,000,000	g	OCP S.A.		4.500		10/22/25		3,019
	1,350,000		Olin Corp		5.125		09/15/27		1,411
	2,860,000	g	Owens-Brockway Glass Container, Inc		5.375		01/15/25		3,071
	3,150,000		Packaging Corp of America		3.650		09/15/24		3,209
	3,575,000		Potash Corp of Saskatchewan, Inc		3.625		03/15/24		3,632
	5,000,000		Rock Tenn Co		3.500		03/01/20		5,122
	1,370,000	g	Sealed Air Corp		5.250		04/01/23		1,476
	2,300,000	g	Severstal OAO Via Steel Capital S.A.		3.850		08/27/21		2,352
	4,600,000		Sherwin-Williams Co		3.450		06/01/27		4,619
	1,350,000		Sherwin-Williams Co		4.500		06/01/47		1,412
EUR	750,000	g	Silgan Holdings, Inc		3.250		03/15/25		920
$	1,675,000		Steel Dynamics, Inc		5.125		10/01/21		1,723
	3,800,000	g	Suzano Austria GmbH		5.750		07/14/26		4,082
	1,630,000		Teck Resources Ltd		3.750		02/01/23		1,651
	3,000,000	g	Union Andina de Cementos SAA		5.875		10/30/21		3,162
	3,300,000		Vulcan Materials Co		3.900		04/01/27		3,374
			TOTAL MATERIALS						177,633
MEDIA - 1.3%
	2,105,000		21st Century Fox America, Inc		7.625		11/30/28		2,780
	1,578,000		21st Century Fox America, Inc		6.550		03/15/33		1,998
	7,375,000		21st Century Fox America, Inc		6.900		08/15/39		9,949
GBP	675,000		AMC Entertainment Holdings, Inc		6.375		11/15/24		918
$	6,750,000		CBS Corp		2.300		08/15/19		6,786
	4,200,000		CBS Corp		2.900		01/15/27		3,970
	2,500,000		CBS Corp		3.375		02/15/28		2,436

309

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,225,000		Charter Communications Operating LLC		3.579	%	07/23/20	$	5,363
	5,395,000		Charter Communications Operating LLC		4.464		07/23/22		5,698
	19,275,000		Charter Communications Operating LLC		4.908		07/23/25		20,598
	3,500,000		Cinemark USA, Inc		4.875		06/01/23		3,535
	18,200,000		Comcast Corp		3.200		07/15/36		17,074
	1,715,000	g	CSC Holdings LLC		5.500		04/15/27		1,784
	4,000,000		Discovery Communications LLC		2.950		03/20/23		4,003
GBP	300,000		Discovery Communications LLC		2.500		09/20/24		393
$	5,625,000		Discovery Communications LLC		3.950		03/20/28		5,609
	1,930,000	g	Gannett Co, Inc		4.875		09/15/21		1,978
	2,925,000	g	Gannett Co, Inc		5.500		09/15/24		3,078
	2,000,000		Lamar Media Corp		5.000		05/01/23		2,072
	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		7,256
	7,700,000	g	NBC Universal Enterprise, Inc		1.974		04/15/19		7,725
	10,350,000		NBC Universal Media LLC		2.875		01/15/23		10,516
	3,735,000		Nielsen Finance LLC		4.500		10/01/20		3,777
	4,650,000		Outfront Media Capital LLC		5.250		02/15/22		4,807
	1,000,000	g	Sirius XM Radio, Inc		3.875		08/01/22		1,023
	5,675,000		Time Warner Cable, Inc		5.875		11/15/40		6,225
	4,075,000		Time Warner Cable, Inc		4.500		09/15/42		3,860
	20,550,000		Time Warner, Inc		2.100		06/01/19		20,582
	6,575,000		Time Warner, Inc		3.600		07/15/25		6,596
	5,550,000		Time Warner, Inc		3.800		02/15/27		5,551
	150,000		Time Warner, Inc		4.850		07/15/45		152
	675,000	g	Virgin Media Secured Finance plc		5.500		01/15/25		710
			TOTAL MEDIA						180,907
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.6%
	4,750,000		Abbott Laboratories		3.875		09/15/25		4,907
	19,450,000		Abbott Laboratories		3.750		11/30/26		19,950
	2,250,000		Abbott Laboratories		5.300		05/27/40		2,536
	16,950,000		AbbVie, Inc		2.500		05/14/20		17,150
	18,500,000		AbbVie, Inc		3.200		05/14/26		18,530
	150,000		AbbVie, Inc		4.500		05/14/35		161
	20,275,000		Actavis Funding SCS		3.800		03/15/25		21,049
	9,500,000		Actavis Funding SCS		4.550		03/15/35		10,131
	134,000		Actavis Funding SCS		4.750		03/15/45		145
	5,200,000		Amgen, Inc		1.850		08/19/21		5,109
	8,600,000		Amgen, Inc		2.600		08/19/26		8,165
	5,650,000		AstraZeneca plc		3.125		06/12/27		5,581
	3,400,000		Celgene Corp		3.625		05/15/24		3,541
	11,575,000		Celgene Corp		3.875		08/15/25		12,209
	8,675,000		Gilead Sciences, Inc		2.950		03/01/27		8,591
	6,750,000		Gilead Sciences, Inc		4.150		03/01/47		6,952
	9,375,000		Johnson & Johnson		2.950		03/03/27		9,506
	3,750,000		Johnson & Johnson		3.625		03/03/37		3,912
	4,100,000		Mylan NV		3.750		12/15/20		4,250
	3,300,000		Mylan NV		3.950		06/15/26		3,358
	9,600,000		Novartis Capital Corp		3.000		11/20/25		9,797
	10,925,000		Novartis Capital Corp		3.100		05/17/27		11,105
	500,000		Perrigo Finance plc		3.900		12/15/24		511
	2,092,000		Perrigo Finance plc		4.900		12/15/44		2,119
	6,350,000		Pfizer, Inc		4.125		12/15/46		6,777
	8,275,000	g	Roche Holdings, Inc		2.375		01/28/27		7,854

310

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	17,725,000	Teva Pharmaceutical Finance Netherlands III BV		3.150	%	10/01/26	$	16,334
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						220,230
REAL ESTATE - 1.4%
	1,675,000	Alexandria Real Estate Equities, Inc		3.950		01/15/27		1,709
	2,300,000	Alexandria Real Estate Equities, Inc		3.950		01/15/28		2,342
	10,300,000	American Tower Corp		3.300		02/15/21		10,552
	2,418,000	American Tower Corp		4.400		02/15/26		2,556
	1,600,000	American Tower Corp		3.550		07/15/27		1,589
	300,000	Boston Properties LP		4.125		05/15/21		317
	5,575,000	Brandywine Operating Partnership LP		4.100		10/01/24		5,597
	4,500,000	Brixmor Operating Partnership LP		3.875		08/15/22		4,635
	5,250,000	Brixmor Operating Partnership LP		3.650		06/15/24		5,222
	5,825,000	Brixmor Operating Partnership LP		3.850		02/01/25		5,827
	2,650,000	Brixmor Operating Partnership LP		4.125		06/15/26		2,671
	3,965,000	Camden Property Trust		4.625		06/15/21		4,219
	3,000,000	Camden Property Trust		2.950		12/15/22		2,996
	4,825,000	Crown Castle International Corp		2.250		09/01/21		4,757
	3,911,000	Crown Castle International Corp		4.875		04/15/22		4,256
	3,825,000	Crown Castle International Corp		3.650		09/01/27		3,821
	5,175,000	DCT Industrial Operating Partnership LP		4.500		10/15/23		5,451
	3,450,000	DDR Corp		3.625		02/01/25		3,353
	3,250,000	DDR Corp		4.250		02/01/26		3,258
	3,250,000	DDR Corp		4.700		06/01/27		3,347
	3,075,000	Digital Realty Trust LP		3.700		08/15/27		3,105
	1,600,000	Duke Realty LP		3.250		06/30/26		1,582
	1,250,000	Equinix, Inc		5.375		01/01/22		1,311
	2,750,000	Equity One, Inc		3.750		11/15/22		2,833
	2,754,000	Essex Portfolio LP		3.375		01/15/23		2,801
	4,275,000	Federal Realty Investment Trust		3.250		07/15/27		4,212
	78,000	HCP, Inc		5.375		02/01/21		85
	2,775,000	Healthcare Realty Trust, Inc		5.750		01/15/21		3,043
	1,625,000	Healthcare Realty Trust, Inc		3.750		04/15/23		1,652
	6,600,000	Healthcare Realty Trust, Inc		3.875		05/01/25		6,651
	3,700,000	Healthcare Trust of America Holdings LP		3.375		07/15/21		3,801
	3,550,000	Healthcare Trust of America Holdings LP		3.700		04/15/23		3,636
	6,250,000	Healthcare Trust of America Holdings LP		3.500		08/01/26		6,114
	1,950,000	Highwoods Realty LP		3.875		03/01/27		1,966
	1,775,000	Host Hotels & Resorts LP		4.500		02/01/26		1,867
	2,800,000	Kimco Realty Corp		3.400		11/01/22		2,882
	2,500,000	Liberty Property LP		3.250		10/01/26		2,442
	5,224,000	Mid-America Apartments LP		4.300		10/15/23		5,538
	5,525,000	Mid-America Apartments LP		3.750		06/15/24		5,694
	4,300,000	Mid-America Apartments LP		4.000		11/15/25		4,467
	3,575,000	Mid-America Apartments LP		3.600		06/01/27		3,589
	3,600,000	National Retail Properties, Inc		3.800		10/15/22		3,740
	5,425,000	National Retail Properties, Inc		3.300		04/15/23		5,501
	2,575,000	National Retail Properties, Inc		4.000		11/15/25		2,639
	3,000,000	National Retail Properties, Inc		3.600		12/15/26		2,969
	7,225,000	Regency Centers LP		3.900		11/01/25		7,392
	4,750,000	Regency Centers LP		3.600		02/01/27		4,741
	405,000	Ventas Realty LP		3.125		06/15/23		406
	450,000	Ventas Realty LP		4.125		01/15/26		469

311

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,170,000		Weingarten Realty Investors		3.375	%	10/15/22	$	1,191
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,831
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,176
	3,950,000		Weingarten Realty Investors		3.850		06/01/25		3,995
	1,300,000		Weingarten Realty Investors		3.250		08/15/26		1,244
	3,575,000		Welltower, Inc		4.000		06/01/25		3,726
			TOTAL REAL ESTATE						193,766
RETAILING - 0.7%
	600,000		Asbury Automotive Group, Inc		6.000		12/15/24		627
	100,000		Best Buy Co, Inc		5.500		03/15/21		109
	6,525,000		Enable Midstream Partners LP		4.400		03/15/27		6,634
	8,850,000		Home Depot, Inc		2.000		04/01/21		8,853
	8,725,000		Home Depot, Inc		3.350		09/15/25		9,021
	5,175,000		Home Depot, Inc		3.000		04/01/26		5,191
	2,975,000		Home Depot, Inc		3.500		09/15/56		2,741
	3,150,000		L Brands, Inc		6.750		07/01/36		3,047
	3,150,000		Limited Brands, Inc		7.000		05/01/20		3,465
	6,600,000		Macy’s Retail Holdings, Inc		4.500		12/15/34		5,677
	7,575,000		O’Reilly Automotive, Inc		3.550		03/15/26		7,590
	6,875,000		O’Reilly Automotive, Inc		3.600		09/01/27		6,868
	7,875,000		Priceline Group, Inc		3.550		03/15/28		7,877
	5,050,000	g	Rolls-Royce plc		2.375		10/14/20		5,043
	1,850,000	g	Rolls-Royce plc		3.625		10/14/25		1,913
GBP	1,250,000		Rolls-Royce plc		3.375		06/18/26		1,812
$	5,800,000		Target Corp		2.500		04/15/26		5,561
	5,625,000		Target Corp		3.625		04/15/46		5,289
	150,000		Wal-Mart Stores, Inc		4.300		04/22/44		167
			TOTAL RETAILING						87,485
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	250,000		Intel Corp		3.700		07/29/25		264
	16,275,000		Intel Corp		3.150		05/11/27		16,516
	6,500,000		Intel Corp		4.100		05/11/47		6,886
	3,475,000		Maxim Integrated Products, Inc		3.450		06/15/27		3,495
	3,475,000		Texas Instruments, Inc		2.625		05/15/24		3,468
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						30,629
SOFTWARE & SERVICES - 0.7%
	4,175,000		Activision Blizzard Inc		2.300		09/15/21		4,150
	4,350,000		Activision Blizzard Inc		3.400		09/15/26		4,399
	5,400,000		Baidu, Inc		2.875		07/06/22		5,414
	11,348,000		Fidelity National Information Services, Inc		3.625		10/15/20		11,815
GBP	150,000		Fidelity National Information Services, Inc		1.700		06/30/22		200
EUR	375,000		Fidelity National Information Services, Inc		1.100		07/15/24		441
$	800,000	g	IMS Health, Inc		5.000		10/15/26		848
	30,200,000		Microsoft Corp		2.400		08/08/26		29,263
	3,750,000		Microsoft Corp		4.100		02/06/37		4,093
	5,500,000		Microsoft Corp		4.250		02/06/47		6,077
	1,475,000		NCR Corp		4.625		02/15/21		1,501
	525,000		NCR Corp		5.875		12/15/21		543
	1,650,000	g	Open Text Corp		5.625		01/15/23		1,728
	12,600,000		Oracle Corp		2.500		05/15/22		12,763

312

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	9,575,000		VMware, Inc		2.950	%	08/21/22	$	9,607
			TOTAL SOFTWARE & SERVICES						92,842
TECHNOLOGY HARDWARE & EQUIPMENT - 0.8%
	3,475,000		Amphenol Corp		3.125		09/15/21		3,541
	23,475,000		Apple, Inc		3.200		05/11/27		23,890
EUR	750,000		Apple, Inc		1.375		05/24/29		886
$	4,525,000		Apple, Inc		4.650		02/23/46		5,137
	8,150,000	g	Broadcom Corp		3.875		01/15/27		8,390
	19,750,000		Cisco Systems, Inc		1.850		09/20/21		19,543
	1,600,000	g	CommScope, Inc		5.000		06/15/21		1,640
	2,600,000	g	CommScope, Inc		5.500		06/15/24		2,720
	6,100,000	g	Diamond Finance Corp		3.480		06/01/19		6,217
	13,175,000	g	Diamond Finance Corp		4.420		06/15/21		13,831
	10,550,000	g	Diamond Finance Corp		6.020		06/15/26		11,712
	200,000		Koninklijke Philips NV		3.750		03/15/22		211
	2,050,000	g	Millicom International Cellular S.A.		5.125		01/15/28		2,067
	525,000	g	Sensata Technologies BV		5.625		11/01/24		578
	250,000	g	Sensata Technologies BV		5.000		10/01/25		263
	5,050,000		Tyco Electronics Group S.A.		2.375		12/17/18		5,078
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		6,925
EUR	700,000		Tyco Electronics Group S.A.		1.100		03/01/23		842
$	2,175,000		Tyco Electronics Group S.A.		3.700		02/15/26		2,268
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						115,739
TELECOMMUNICATION SERVICES - 1.6%
	450,000		Alibaba Group Holding Ltd		2.500		11/28/19		453
	500,000		Alibaba Group Holding Ltd		3.600		11/28/24		518
EUR	1,500,000	g	Altice Luxembourg S.A.		7.250		05/15/22		1,884
$	21,350,000		AT&T, Inc		1.400		12/01/17		21,347
	8,450,000		AT&T, Inc		4.600		02/15/21		8,975
	27,775,000		AT&T, Inc		3.400		05/15/25		27,330
	6,675,000		AT&T, Inc		4.250		03/01/27		6,857
	13,025,000		AT&T, Inc		3.900		08/14/27		13,040
EUR	500,000		AT&T, Inc		2.350		09/04/29		599
$	9,000,000		AT&T, Inc		4.500		05/15/35		8,882
EUR	440,000		AT&T, Inc		3.150		09/04/36		523
$	6,525,000		AT&T, Inc		5.250		03/01/37		6,840
	13,025,000		AT&T, Inc		4.900		08/14/37		13,178
GBP	355,000		AT&T, Inc		3.550		09/14/37		455
$	200,000		AT&T, Inc		4.300		12/15/42		187
	150,000		AT&T, Inc		4.800		06/15/44		146
	4,525,000		AT&T, Inc		4.750		05/15/46		4,357
	6,525,000		AT&T, Inc		5.450		03/01/47		6,898
	13,025,000		AT&T, Inc		5.150		02/14/50		13,125
	500,000		AT&T, Inc		5.300		08/14/58		504
	4,400,000	g	Bharti Airtel International Netherlands BV		5.125		03/11/23		4,634
	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		5,872
	3,950,000		France Telecom S.A.		5.375		01/13/42		4,630
	4,000,000	g	MTN Mauritius Investment Ltd		5.373		02/13/22		4,142
	3,500,000	g,q	Oi S.A.		5.750		02/10/22		1,225
	2,125,000		Telefonica Emisiones SAU		4.103		03/08/27		2,198

313

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,325,000		T-Mobile USA, Inc		6.375	%	03/01/25	$	2,503
	2,000,000	g	Turk Telekomunikasyon AS.		4.875		06/19/24		2,043
	9,275,000		Verizon Communications, Inc		3.450		03/15/21		9,640
	5,625,000		Verizon Communications, Inc		4.150		03/15/24		5,954
	30,520,000		Verizon Communications, Inc		4.272		01/15/36		29,969
	10,550,000		Verizon Communications, Inc		3.850		11/01/42		9,320
	3,350,000		Verizon Communications, Inc		4.125		08/15/46		3,044
	400,000		Verizon Communications, Inc		5.012		08/21/54		401
	4,025,000	g	VimpelCom Holdings BV		4.950		06/16/24		4,119
EUR	1,500,000	g	Virgin Media Finance plc		4.500		01/15/25		1,852
			TOTAL TELECOMMUNICATION SERVICES						227,644
TRANSPORTATION - 0.8%
$	5,730,000	g	Asciano Finance Ltd		5.000		04/07/18		5,810
	72,000		Burlington Northern Santa Fe LLC		4.150		04/01/45		76
	6,525,000		Burlington Northern Santa Fe LLC		4.125		06/15/47		6,889
	9,200,000		Canadian Pacific Railway Co		2.900		02/01/25		9,152
	200,000		Canadian Pacific Railway Co		4.800		08/01/45		228
	5,000,000		CSX Corp		3.250		06/01/27		4,996
	150,000		CSX Corp		4.100		03/15/44		150
	4,000,000		CSX Corp		3.800		11/01/46		3,844
	9,250,000		Delta Air Lines, Inc		3.625		03/15/22		9,505
	5,375,000		FedEx Corp		3.250		04/01/26		5,444
	100,000		FedEx Corp		3.875		08/01/42		95
	2,925,000		FedEx Corp		4.750		11/15/45		3,184
	17,344,000		Kansas City Southern		2.350		05/15/20		17,294
	5,700,000		Kansas City Southern		4.950		08/15/45		6,341
	9,400,000		Norfolk Southern Corp		3.150		06/01/27		9,387
	2,625,000		Northrop Grumman Corp		1.750		06/01/18		2,628
	100,000	g	Park Aerospace Holdings Ltd		5.250		08/15/22		104
	100,000	g	Park Aerospace Holdings Ltd		5.500		02/15/24		105
	2,830,000	g	Rumo Luxembourg Sarl		7.375		02/09/24		3,063
	3,000,000	g	Transnet SOC Ltd		4.000		07/26/22		2,953
	3,500,000	g	TTX Co		3.600		01/15/25		3,585
	3,850,000		Union Pacific Corp		3.600		09/15/37		3,900
	5,000,000		Union Pacific Corp		4.000		04/15/47		5,232
			TOTAL TRANSPORTATION						103,965
UTILITIES - 4.0%
	1,650,000		AEP Transmission Co LLC		3.100		12/01/26		1,654
	1,650,000		AEP Transmission Co LLC		4.000		12/01/46		1,699
	1,775,000		AES Corp		4.875		05/15/23		1,819
	1,500,000		AES Corp		5.500		03/15/24		1,566
	8,475,000		AGL Capital Corp		3.875		11/15/25		8,717
	2,125,000		AGL Capital Corp		4.400		06/01/43		2,177
	3,475,000		Alabama Power Co		4.150		08/15/44		3,660
	15,000,000		American Electric Power Co, Inc		1.650		12/15/17		15,001
	6,000,000		American Electric Power Co, Inc		2.950		12/15/22		6,118
	2,750,000		American Water Capital Corp		3.000		12/01/26		2,722
	2,375,000		American Water Capital Corp		4.000		12/01/46		2,441
	7,175,000		American Water Capital Corp		3.750		09/01/47		7,168
	1,575,000	g	APT Pipelines Ltd		4.250		07/15/27		1,620
	5,500,000		Atmos Energy Corp		8.500		03/15/19		6,017
	1,175,000		Atmos Energy Corp		4.125		10/15/44		1,231

314

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	6,500,000		Baltimore Gas & Electric Co			3.750	%	08/15/47	$	6,468
	6,225,000		Black Hills Corp			4.250		11/30/23		6,634
	1,575,000		Black Hills Corp			3.150		01/15/27		1,534
	4,750,000		Carolina Power & Light Co			5.300		01/15/19		4,972
	3,670,000		CenterPoint Energy Resources Corp			4.500		01/15/21		3,860
	3,550,000		CenterPoint Energy Resources Corp			6.250		02/01/37		4,420
	2,850,000	g	Cerro del Aguila S.A.			4.125		08/16/27		2,839
	3,840,000	g	CEZ AS.			4.250		04/03/22		4,023
	4,675,000		CMS Energy Corp			3.600		11/15/25		4,777
	4,200,000		Commonwealth Edison Co			5.900		03/15/36		5,326
	2,750,000		Connecticut Light & Power Co			5.500		02/01/19		2,880
	6,800,000		Consolidated Edison Co of New York, Inc			3.850		06/15/46		6,891
	5,500,000		Consolidated Edison Co of New York, Inc			3.875		06/15/47		5,640
	4,575,000		Consolidated Edison, Inc			2.000		05/15/21		4,529
EUR	600,000	i	Credit Agricole Assurances S.A.	ISR EUR 5 Y + 4.500%		4.250		12/30/49		767
	500,000		DH Europe Finance S.A.			1.200		06/30/27		585
$	3,775,000		Dominion Resources, Inc			2.000		08/15/21		3,712
	5,750,000		DTE Electric Co			3.750		08/15/47		5,806
	1,400,000		Duke Energy Carolinas LLC			4.300		06/15/20		1,484
	5,825,000		Duke Energy Corp			1.800		09/01/21		5,706
	8,675,000		Duke Energy Corp			2.650		09/01/26		8,293
	750,000		Duke Energy Corp			4.800		12/15/45		835
	5,950,000		Duke Energy Corp			3.750		09/01/46		5,728
	11,504,098		Duke Energy Florida Project Finance LLC			1.196		03/01/20		11,413
	5,000,000		Duke Energy Florida Project Finance LLC			1.731		09/01/22		4,768
	1,450,000		Duke Energy Ohio, Inc			3.800		09/01/23		1,547
	8,900,000		Energy Transfer Partners LP			4.750		01/15/26		9,365
	2,985,000		Energy Transfer Partners LP			5.150		02/01/43		2,910
	5,450,000		Energy Transfer Partners LP			5.950		10/01/43		5,832
	6,025,000		Energy Transfer Partners LP			5.150		03/15/45		5,883
	1,675,000		Energy Transfer Partners LP			5.300		04/15/47		1,678
	2,850,000		Enersis Americas S.A.			4.000		10/25/26		2,907
EUR	700,000		Engie S.A.			2.375		05/19/26		919
$	5,700,000		Entergy Corp			2.950		09/01/26		5,510
	5,850,000	g	Eskom Holdings SOC Ltd			5.750		01/26/21		5,932
	9,450,000		Exelon Generation Co LLC			3.400		03/15/22		9,708
	8,050,000		Fortis, Inc			3.055		10/04/26		7,748
	350,000		Georgia Power Co			3.250		03/30/27		349
	3,000,000		Georgia Power Co			5.400		06/01/40		3,529
EUR	1,000,000		Iberdrola International BV			1.125		04/21/26		1,176
$	5,000,000		Indiana Michigan Power Co			7.000		03/15/19		5,353
	3,600,000		Indiana Michigan Power Co			3.750		07/01/47		3,537
	2,725,000		Integrys Energy Group, Inc			4.170		11/01/20		2,874
	2,425,000		Interstate Power & Light Co			3.700		09/15/46		2,352
	3,000,000	g	Israel Electric Corp Ltd			5.625		06/21/18		3,063
	1,300,000	g	Israel Electric Corp Ltd			5.000		11/12/24		1,409
	1,000,000	g	Kansas Gas & Electric			6.700		06/15/19		1,077
	500,000	g	KazMunayGas National Co JSC			3.875		04/19/22		504
	4,525,000	g	KazTransGas JSC			4.375		09/26/27		4,491
	5,000,000		LG&E and KU Energy LLC			3.750		11/15/20		5,199
	4,225,000	g	Listrindo Capital BV			4.950		09/14/26		4,288
	12,500,000		Mercy Health			3.382		11/01/25		12,650

315

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,325,000		MidAmerican Energy Co		4.250	%	05/01/46	$	1,418
	3,000,000	g	Minejesa Capital BV		4.625		08/10/30		3,058
	800,000	g	Minejesa Capital BV		5.625		08/10/37		838
	4,240,000		MPLX LP		5.500		02/15/23		4,363
	6,262,000		MPLX LP		4.500		07/15/23		6,660
	3,800,000		MPLX LP		4.000		02/15/25		3,863
	3,775,000		MPLX LP		4.125		03/01/27		3,842
	3,850,000		MPLX LP		5.200		03/01/47		4,029
	2,000,000	g	NBK SPC Ltd		2.750		05/30/22		1,982
	2,800,000		Nevada Power Co		6.500		08/01/18		2,910
	3,335,000		Nevada Power Co		5.450		05/15/41		4,033
	13,025,000		NextEra Energy Capital Holdings, Inc		3.550		05/01/27		13,359
	550,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		562
	9,750,000		NiSource Finance Corp		3.490		05/15/27		9,865
	3,700,000		NiSource Finance Corp		4.800		02/15/44		4,093
	6,450,000		NiSource Finance Corp		3.950		03/30/48		6,353
	3,375,000		Northeast Utilities		1.450		05/01/18		3,374
	6,450,000		Northern States Power Co		3.600		09/15/47		6,358
	2,000,000		NRG Energy, Inc		6.250		05/01/24		2,080
EUR	250,000	g	OI European Group BV		3.125		11/15/24		305
$	7,100,000		Oncor Electric Delivery Co LLC		2.150		06/01/19		7,102
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,538
	8,170,000		Oncor Electric Delivery Co LLC		4.550		12/01/41		9,080
	2,500,000		ONEOK, Inc		4.000		07/13/27		2,530
	3,900,000		Pacific Gas & Electric Co		8.250		10/15/18		4,152
	5,850,000		Pacific Gas & Electric Co		4.250		03/15/46		6,292
	2,750,000		Pacific Gas & Electric Co		4.000		12/01/46		2,880
	4,500,000	g	Perusahaan Gas Negara Persero Tbk PT		5.125		05/16/24		4,850
	4,600,000	g	Perusahaan Listrik Negara PT		4.125		05/15/27		4,597
	4,000,000	g	Petroleos del Peru S.A.		4.750		06/19/32		4,114
	6,575,000		Phillips 66 Partners LP		3.550		10/01/26		6,430
	1,600,000		Phillips 66 Partners LP		4.900		10/01/46		1,600
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,132
	6,925,000		PPL Capital Funding, Inc		4.200		06/15/22		7,413
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,051
	3,825,000		Progress Energy, Inc		7.050		03/15/19		4,100
	8,800,000		Public Service Co of Oklahoma		5.150		12/01/19		9,349
	2,640,000		Public Service Electric & Gas Co		5.300		05/01/18		2,696
	2,850,000		Public Service Electric & Gas Co		3.800		03/01/46		2,882
	5,550,000		Sempra Energy		2.875		10/01/22		5,567
	6,800,000		Southern Co		4.400		07/01/46		7,074
	2,000,000		Southern Co Gas Capital Corp		3.950		10/01/46		1,908
	8,250,000		Southern Power Co		2.500		12/15/21		8,212
	7,825,000		Southern Power Co		4.150		12/01/25		8,229
	3,950,000		Spectra Energy Partners LP		3.500		03/15/25		3,975
	2,300,000		Spectra Energy Partners LP		3.375		10/15/26		2,274
	7,150,000		Spectra Energy Partners LP		4.500		03/15/45		7,198
	3,680,000		Virginia Electric & Power Co		2.950		01/15/22		3,753
	6,500,000		Virginia Electric & Power Co		3.500		03/15/27		6,738
	3,925,000		Virginia Electric & Power Co		4.000		11/15/46		4,035
	4,900,000	g	VM Holding S.A.		5.375		05/04/27		5,145
	4,550,000		Western Gas Partners LP		4.650		07/01/26		4,767
	5,075,000		Williams Partners LP		3.600		03/15/22		5,242
	7,250,000		Williams Partners LP		4.500		11/15/23		7,714

316

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,500,000		Williams Partners LP		3.750	%	06/15/27	$	1,497
	1,175,000		Williams Partners LP		4.900		01/15/45		1,192
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,274
	2,975,000		Xcel Energy, Inc		3.350		12/01/26		3,012
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		3,180
			TOTAL UTILITIES						552,409
			TOTAL CORPORATE BONDS						4,778,598
			(Cost $4,679,840)
GOVERNMENT BONDS -  45.4%
AGENCY SECURITIES - 1.6%
	9,449,574		AMAL Ltd		3.465		08/21/21		9,730
	5,500,000		Amber Circle Funding Ltd		3.250		12/04/22		5,606
	4,682,063		Export Lease Ten Co LLC		1.650		05/07/25		4,565
	300,000		Federal National Mortgage Association (FNMA)		2.625		09/06/24		307
	13,870,000		Lutheran Medical Center		1.982		02/20/30		13,241
	9,210,000		Montefiore Medical Center		2.152		10/20/26		8,885
	9,662,129		Premier Aircraft Leasing		3.576		02/06/22		9,983
	10,000,000		Private Export Funding Corp (PEFCO)		2.250		12/15/17		10,017
	5,000,000		PEFCO		4.375		03/15/19		5,199
	7,240,000		PEFCO		1.450		08/15/19		7,218
	27,750,000		PEFCO		2.250		03/15/20		28,102
	35,000,000		PEFCO		4.300		12/15/21		38,259
	25,747,000		PEFCO		2.050		11/15/22		25,728
	36,646,365		Tagua Leasing LLC		1.900		07/12/24		36,194
	12,755,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		13,269
	2,524,000		US Department of Housing and Urban Development (HUD)		5.380		08/01/18		2,559
			TOTAL AGENCY SECURITIES						218,862
FOREIGN GOVERNMENT BONDS - 5.1%
	4,000,000	g	Abu Dhabi Government International Bond		3.125		05/03/26		4,072
	15,000,000		African Development Bank		1.375		12/17/18		14,963
INR	135,000,000		Asian Development Bank		6.200		10/06/26		2,104
AUD	1,700,000		Australia Government International Bond		5.750		05/15/21		1,497
	1,100,000		Australia Government International Bond		3.750		04/21/37		913
$	2,250,000	g	Banque Centrale de Tunisie S.A.		5.750		01/30/25		2,189
	2,000,000	g	Bermuda Government International Bond		4.854		02/06/24		2,176
	3,450,000	g	Bermuda Government International Bond		3.717		01/25/27		3,493
	6,000,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		6,090
BRL	4,500,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/19		1,467
EUR	1,000,000		Bundesrepublik Deutschland		1.250		08/15/48		1,170
$	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,015
	1,850,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		07/28/20		1,846
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		02/12/22		3,953
EUR	400,000		Caisse d’Amortissement de la Dette Sociale		1.375		11/25/24		507
CAD	1,460,000		Canadian Government International Bond		0.500		02/01/19		1,157
	1,000,000		Canadian Government International Bond		5.000		06/01/37		1,134
$	100,000		Colombia Government International Bond		7.375		03/18/19		108
	6,125,000		Colombia Government International Bond		2.625		03/15/23		6,010

317

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,350,000		Colombia Government International Bond		5.000	%	06/15/45	$	5,504
	3,500,000	g	Costa Rica Government International Bond		7.158		03/12/45		3,789
	20,200,000	g	CPPIB Capital, Inc		2.250		01/25/22		20,288
	1,850,000	g	Egypt Government International Bond		6.125		01/31/22		1,915
	650,000	g	Egypt Government International Bond		7.500		01/31/27		707
	3,950,000	g	Egypt Government International Bond		8.500		01/31/47		4,408
	10,000,000		European Investment Bank		2.500		04/15/21		10,195
	250,000		European Investment Bank		3.250		01/29/24		264
SEK	12,330,000		European Investment Bank		1.250		05/12/25		1,533
$	3,500,000		European Investment Bank		4.875		02/15/36		4,517
	3,575,000	g	Export Credit Bank of Turkey		4.250		09/18/22		3,528
	3,400,000	g	Export Credit Bank of Turkey		5.375		10/24/23		3,497
	2,000,000	g	Export-Import Bank of China		2.850		09/16/20		2,001
	8,950,000		Export-Import Bank of Korea		2.250		01/21/20		8,913
EUR	2,762,000		France Government Bond OAT		1.750		11/25/24		3,605
	2,900,000		France Government Bond OAT		1.500		05/25/31		3,580
	2,150,000	g	French Republic Government Bond OAT		2.000		05/25/48		2,633
$	3,600,000	g	Guatemala Government International Bond		4.500		05/03/26		3,627
	2,000,000	g	Guatemala Government International Bond		4.375		06/05/27		1,980
EUR	1,350,000	g	Hellenic Republic Government Bond		4.375		08/01/22		1,579
	1,425,000		Hellenic Republic Government Bond		3.000		02/24/30		1,337
$	2,595,000	g	Honduras Government International Bond		7.500		03/15/24		2,952
CAD	1,800,000		Hydro-Quebec		5.000		02/15/45		1,878
EUR	1,250,000	g	Indonesia Government International Bond		2.150		07/18/24		1,520
$	2,500,000	g	Indonesia Government International Bond		3.850		07/18/27		2,570
IDR	18,000,000,000		Indonesia Treasury Bond		8.250		07/15/21		1,433
AUD	900,000		Inter-American Development Bank		2.750		10/30/25		683
	1,300,000		International Bank for Reconstruction & Development		2.800		01/13/21		1,030
ILS	3,100,000		Israel Government Bond-Fixed		5.500		01/31/42		1,275
EUR	3,550,000		Italy Buoni Poliennali Del Tesoro		0.350		06/15/20		4,223
	6,400,000		Italy Buoni Poliennali Del Tesoro		2.500		12/01/24		8,030
	4,525,000		Italy Buoni Poliennali Del Tesoro		1.250		12/01/26		5,035
	1,350,000	g	Italy Buoni Poliennali Del Tesoro		1.650		03/01/32		1,430
	1,350,000	g	Italy Buoni Poliennali Del Tesoro		3.450		03/01/48		1,624
$	5,310,000		Italy Government International Bond		6.875		09/27/23		6,269
EUR	750,000	g	Ivory Coast Government International Bond		5.125		06/15/25		915
$	2,509,000	g	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		2,451
	3,050,000		Jamaica Government International Bond		8.000		03/15/39		3,774
	8,000,000		Japan Bank for International Cooperation		2.375		04/20/26		7,783
	2,000,000	g	Japan Finance Organization for Municipalities		2.000		09/08/20		1,987
	2,700,000	g	Japan Finance Organization for Municipalities		2.125		02/12/21		2,673
	4,000,000	g	Japan Finance Organization for Municipalities		2.125		04/13/21		3,956
JPY	113,000,000		Japan Finance Organization for Municipalities		0.450		03/14/25		1,031
	103,000,000		Japan Finance Organization for Municipalities		0.484		06/13/25		942
	140,000,000		Japan Finance Organization for Municipalities		0.020		03/13/26		1,233
	440,000,000		Japan Government Ten Year Bond		0.100		09/20/26		3,932
	369,000,000		Japan Government Ten Year Bond		0.100		12/20/26		3,297

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
JPY	350,000,000		Japan Government Thirty Year Bond			2.400	%	11/20/31	$	4,028
	350,000,000		Japan Government Thirty Year Bond			2.300		05/20/32		4,002
	300,000,000		Japan Government Thirty Year Bond			2.500		09/20/34		3,566
	450,000,000		Japan Government Thirty Year Bond			0.500		09/20/46		3,648
	530,000,000		Japan Government Twenty Year Bond			1.900		03/22/21		5,036
	120,000,000		Japan Government Twenty Year Bond			0.600		12/20/36		1,077
	445,000,000		Japan Government Two Year Bond			0.100		02/15/19		3,967
	280,000,000		Japan Government Two Year Bond			0.100		04/15/19		2,497
$	3,000,000	g	Kazakhstan Government International Bond			6.500		07/21/45		3,694
	18,750,000		KFW			2.625		01/25/22		19,209
	5,800,000	g,i	Kommunalbanken AS.	LIBOR 3 M + 0.180%		1.496		02/20/18		5,804
NOK	1,200,000		Kommunalbanken AS.			2.000		05/03/18		152
$	7,700,000	g	Kommunalbanken AS.			1.625		01/15/20		7,672
	1,925,000	g	Kommunalbanken AS.			1.375		10/26/20		1,898
	3,750,000	g	Kommunalbanken AS.			1.625		02/10/21		3,712
EUR	500,000		Kommunalbanken AS.			0.625		04/20/26		586
$	5,000,000	g	Kommuninvest I Sverige AB			2.000		11/12/19		5,025
	2,400,000		Korea Development Bank			1.500		01/22/18		2,396
	2,600,000		Korea Development Bank			2.500		03/11/20		2,596
	6,000,000	g	Korea Housing Finance Corp			1.625		09/15/18		5,960
	2,675,000	g	Korea Housing Finance Corp			2.000		10/11/21		2,592
KRW	980,000,000		Korea Treasury Bond			1.750		12/10/18		857
	3,920,000,000		Korea Treasury Bond			2.000		03/10/21		3,421
	4,200,000,000		Korea Treasury Bond			1.375		09/10/21		3,574
	1,800,000,000		Korea Treasury Bond			1.500		12/10/26		1,456
$	7,050,000	g	Kuwait International Government Bond			2.750		03/20/22		7,121
	6,682,000		Landwirtschaftliche Rentenbank			2.000		01/13/25		6,514
	1,750,000		Lebanon Government International Bond			6.750		11/29/27		1,725
	1,700,000	g	Lithuania Government International Bond			7.375		02/11/20		1,907
	5,250,000	g	Lithuania Government International Bond			6.625		02/01/22		6,155
MXN	14,500,000		Mexican Bonos			8.000		12/07/23		847
	23,500,000		Mexican Bonos			5.750		03/05/26		1,203
$	4,797,000		Mexico Government International Bond			4.000		10/02/23		5,071
	5,100,000		Mexico Government International Bond			4.150		03/28/27		5,360
	8,400,000		Mexico Government International Bond			4.750		03/08/44		8,656
	1,200,000	g	Mongolia Government International Bond			4.125		01/05/18		1,205
	5,750,000	g	Morocco Government International Bond			5.500		12/11/42		6,425
	2,900,000	g	Municipality Finance plc			1.125		09/16/19		2,864

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,075,000	g	Namibia Government International Bond		5.250	%	10/29/25	$	3,121
EUR	1,075,000	g	Netherlands Government International Bond		2.500		01/15/33		1,562
AUD	500,000		New South Wales Treasury Corp		4.000		04/08/21		414
	500,000		New South Wales Treasury Corp		4.000		05/20/26		421
NZD	700,000		New Zealand Government International Bond		4.500		04/15/27		569
$	4,500,000		Nigeria Government International Bond		5.625		06/27/22		4,580
NOK	13,000,000	g	Norway Government International Bond		2.000		05/24/23		1,705
$	2,200,000	g	Oman Government International Bond		6.500		03/08/47		2,262
	5,300,000		Panama Government International Bond		6.700		01/26/36		7,009
	3,000,000		Panama Government International Bond		4.500		05/15/47		3,165
PEN	5,000,000	g	Peru Government International Bond		6.150		08/12/32		1,613
$	4,000,000	g	Perusahaan Penerbit SBSN Indonesia III		3.400		03/29/22		4,080
PEN	4,860,000	g	Peruvian Government International Bond		8.200		08/12/26		1,839
$	3,000,000		Peruvian Government International Bond		8.750		11/21/33		4,722
	2,250,000		Peruvian Government International Bond		5.625		11/18/50		2,841
	1,700,000		Philippine Government International Bond		3.700		03/01/41		1,701
	3,000,000		Philippine Government International Bond		3.700		02/02/42		3,003
	8,150,000		Poland Government International Bond		5.000		03/23/22		9,005
PLN	6,600,000		Poland Government International Bond		4.000		10/25/23		1,914
$	15,000,000		Province of British Columbia Canada		2.000		10/23/22		14,837
CAD	2,350,000		Province of British Columbia Canada		2.550		06/18/27		1,853
$	20,750,000		Province of Manitoba Canada		1.750		05/30/19		20,750
	10,000,000		Province of Manitoba Canada		3.050		05/14/24		10,308
	25,000,000		Province of Manitoba Canada		2.125		06/22/26		23,718
	20,000,000		Province of New Brunswick Canada		2.750		06/15/18		20,164
	8,835,000		Province of Quebec Canada		4.625		05/14/18		9,000
	22,500,000		Province of Quebec Canada		3.500		07/29/20		23,457
CAD	1,650,000		Province of Quebec Canada		2.750		09/01/27		1,316
$	6,000,000		Province of Quebec Canada		7.500		09/15/29		8,550
	2,350,000	g	Provincia de Buenos Aires		7.875		06/15/27		2,547
	2,000,000	g	Provincia de Mendoza Argentina		8.375		05/19/24		2,207
	1,175,000		Republic of Hungary		6.250		01/29/20		1,281
	2,135,000	g	Republic of Paraguay		6.100		08/11/44		2,397
PLN	4,000,000		Republic of Poland Government Bond		3.250		07/25/25		1,102
$	681,243		Republic of Serbia (Step Bond)		6.750		11/01/24		693
	3,950,000		Republic of South Africa Government International Bond		4.850		09/27/27		3,911
	100,000		Republic of the Philippines		6.500		01/20/20		110
	4,500,000	g	Romanian Government International Bond		6.750		02/07/22		5,204
RUB	88,750,000		Russian Federal Bond - OFZ		7.000		01/25/23		1,508
$	3,250,000	g	Russian Foreign Bond - Eurobond		4.875		09/16/23		3,538
	1,500,000	g	Saudi Government International Bond		2.375		10/26/21		1,478
	16,750,000	g	Saudi Government International Bond		2.875		03/04/23		16,648
	4,000,000	g	Saudi Government International Bond		3.250		10/26/26		3,956
	2,600,000	g	Senegal Government International Bond		6.250		05/23/33		2,676
	4,000,000		South Africa Government International Bond		5.875		09/16/25		4,320
ZAR	12,200,000		South Africa Government International Bond		10.500		12/21/26		1,011
	15,100,000		South Africa Government International Bond		8.750		01/31/44		1,006
EUR	2,745,000		Spain Government International Bond		0.400		04/30/22		3,265
	3,450,000	g	Spain Government International Bond		2.750		10/31/24		4,586

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
EUR	1,250,000	g	Spain Government International Bond		2.900	%	10/31/46	$	1,491
$	3,000,000	g	Sri Lanka Government International Bond		5.750		01/18/22		3,170
	1,500,000	g	Sri Lanka Government International Bond		6.850		11/03/25		1,647
	1,625,000	g	Sri Lanka Government International Bond		6.200		05/11/27		1,708
EUR	700,000		State of North Rhine-Westphalia		2.000		10/15/25		925
$	4,000,000		Svensk Exportkredit AB		1.125		04/05/18		3,993
	4,000,000		Svensk Exportkredit AB		1.750		03/10/21		3,971
SEK	4,400,000		Sweden Government International Bond		2.250		06/01/32		607
THB	53,000,000		Thailand Government International Bond		1.875		06/17/22		1,598
AUD	500,000		Treasury Corp of Victoria		6.000		06/15/20		431
	500,000		Treasury Corp of Victoria		3.000		10/20/28		381
$	7,000,000		Turkey Government International Bond		3.250		03/23/23		6,652
	5,750,000		Turkey Government International Bond		5.750		03/22/24		6,109
	2,600,000		Turkey Government International Bond		6.000		03/25/27		2,788
	2,950,000		Turkey Government International Bond		6.875		03/17/36		3,327
	6,300,000	g	Ukraine Government International Bond		7.375		09/25/32		6,128
GBP	2,375,000		United Kingdom Gilt		1.750		07/22/19		3,257
	3,000,000		United Kingdom Gilt		2.750		09/07/24		4,482
	2,450,000		United Kingdom Gilt		4.750		12/07/30		4,517
	1,000,000		United Kingdom Gilt		4.250		03/07/36		1,847
	2,900,000		United Kingdom Gilt		1.500		07/22/47		3,522
UYU	20,760,000	g	Uruguay Government International Bond		9.875		06/20/22		773
$	2,352,945		Uruguay Government International Bond		4.375		10/27/27		2,533
UYU	43,000,000	g	Uruguay Government International Bond		8.500		03/15/28		1,519
$	6,750,000		Uruguay Government International Bond		5.100		06/18/50		7,118
			TOTAL FOREIGN GOVERNMENT BONDS						704,085
MORTGAGE BACKED - 19.2%
	24,598,092		Federal Home Loan Mortgage Corp (FHLMC)		3.500		08/15/42		25,409
	39,768,118		FHLMC		3.500		08/15/43		41,458
	38,291		Federal Home Loan Mortgage Corp Gold (FGLMC)		7.000		10/01/20		40
	10,097		FGLMC		7.000		05/01/23		11
	126,552		FGLMC		6.000		10/01/23		142
	93,745		FGLMC		6.000		11/01/23		106
	14,550,602		FGLMC		3.500		03/01/27		15,207
	27,975		FGLMC		8.000		01/01/31		31
	5,545		FGLMC		7.000		01/01/32		6
	49,971		FGLMC		8.000		02/01/32		52
	751,507		FGLMC		4.500		07/01/33		811
	1,621,223		FGLMC		5.500		12/01/33		1,813
	894,055		FGLMC		5.500		12/01/33		1,007
	5,117,606		FGLMC		7.000		12/01/33		5,921
	6,053,575		FGLMC		5.000		01/01/34		6,644
	1,547,627		FGLMC		4.500		10/01/34		1,664
	955,751		FGLMC		4.500		04/01/35		1,029
	1,606,656		FGLMC		7.000		05/01/35		1,839
	309,041		FGLMC		5.000		02/01/36		339
	9,120		FGLMC		6.500		05/01/36		10
	1,969,756		FGLMC		5.000		04/01/38		2,174
	1,589,665		FGLMC		5.000		07/01/39		1,745

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	9,593,095	w	FGLMC		4.500	%	11/01/40	$	10,488
	10,733,574	w	FGLMC		4.500		12/01/40		11,733
	186,306		FGLMC		4.500		12/01/43		202
	114,903		FGLMC		4.500		02/01/44		125
	4,449,000		FGLMC		4.500		10/01/44		4,858
	2,139,705		FGLMC		4.500		11/01/44		2,337
	2,616,730		FGLMC		4.500		11/01/44		2,857
	890,610		FGLMC		4.500		12/01/44		961
	1,661,720		FGLMC		4.500		12/01/44		1,815
	9,525,912		FGLMC		3.500		04/01/45		9,896
	1,095,625		FHLMC		4.500		05/01/45		1,149
	71,507,182		FGLMC		3.500		10/01/45		74,247
	62,839,275		FGLMC		4.000		12/01/45		66,907
	7,890,569		FGLMC		4.000		05/01/46		8,370
	133,411,818		FGLMC		3.500		08/01/46		138,482
	5,442		Federal National Mortgage Association (FNMA)		8.000		03/01/23		5
	73,161		FNMA		8.000		07/01/24		83
	15,166		FNMA		9.000		11/01/25		17
	532,988		FNMA		2.500		06/01/30		538
	1,893,879		FNMA		2.500		06/01/31		1,908
	806,516		FNMA		2.500		07/01/31		812
	19,774,606		FNMA		2.500		07/01/31		19,921
	4,743,093		FNMA		2.500		08/01/31		4,778
	1,026,427		FNMA		2.500		09/01/31		1,034
	1,256,783		FNMA		2.500		09/01/31		1,266
	826,503		FNMA		2.500		09/01/31		833
	2,183,986		FNMA		2.500		10/01/31		2,200
	648,915		FNMA		2.500		10/01/31		654
	1,150,186		FNMA		2.500		11/01/31		1,159
	567,152		FNMA		2.500		11/01/31		571
	736,608		FNMA		2.500		11/01/31		742
	1,582,786		FNMA		2.500		11/01/31		1,595
	380,541		FNMA		2.500		11/01/31		383
	866,572		FNMA		2.500		11/01/31		873
	1,806,794		FNMA		2.500		11/01/31		1,820
	819,493		FNMA		2.500		12/01/31		826
	3,004,328		FNMA		2.500		12/01/31		3,027
	1,049,431		FNMA		2.500		12/01/31		1,057
	616,945		FNMA		2.500		12/01/31		622
	2,372,819		FNMA		2.500		12/01/31		2,390
	24,927,385		FNMA		3.500		02/01/32		25,999
	8,034,988		FNMA		3.500		05/01/32		8,393
	1,684,689		FNMA		2.500		06/01/32		1,697
	497,943		FNMA		2.500		06/01/32		502
	815,683		FNMA		2.500		07/01/32		822
	1,588,368		FNMA		2.500		07/01/32		1,601
	3,472,862		FNMA		2.500		07/01/32		3,499
	20,411,650		FNMA		3.000		07/01/32		20,981
	20,716,723		FNMA		3.500		07/01/32		21,612
	940,806		FNMA		6.500		07/01/32		1,069
	89,758		FNMA		7.000		07/01/32		98
	149,217		FNMA		7.000		07/01/32		158
	37,691,749		FNMA		3.000		08/01/32		38,742
	6,520,062		FNMA		5.000		06/01/33		7,184

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	780,807	FNMA		4.500	%	10/01/33	$	842
	14,730,179	FNMA		5.000		10/01/33		16,229
	94,473	FNMA		5.000		11/01/33		104
	1,980,528	FNMA		5.000		11/01/33		2,211
	788,620	FNMA		5.000		03/01/34		869
	6,402,665	FNMA		5.500		03/01/34		7,177
	5,577,585	FNMA		5.500		02/01/35		6,253
	1,355,274	FNMA		4.500		05/01/35		1,462
	8,888,701	FNMA		5.000		05/01/35		9,795
	3,984,018	FNMA		5.000		10/01/35		4,391
	3,399,845	FNMA		5.000		02/01/36		3,746
	36,361	FNMA		6.500		03/01/37		41
	2,075,515	FNMA		5.500		08/01/37		2,331
	1,152,473	FNMA		6.000		09/01/37		1,331
	950,783	FNMA		6.000		09/01/37		1,090
	735,913	FNMA		6.500		09/01/37		817
	1,246,043	FNMA		5.500		01/01/38		1,396
	66,207	FNMA		6.500		02/01/38		73
	3,386,760	FNMA		5.500		04/01/38		3,771
	7,224,406	FNMA		5.500		11/01/38		8,343
	4,720,335	FNMA		5.500		12/01/38		5,320
	166,717	FNMA		4.500		04/01/39		181
	3,651,783	FNMA		4.500		05/01/39		3,974
	578,449	FNMA		4.000		07/01/39		614
	3,229,421	FNMA		5.500		08/01/39		3,623
	249,013	FNMA		4.500		02/01/40		271
	1,272,706	FNMA		5.000		08/01/40		1,390
	7,313,670	FNMA		5.000		09/01/40		7,986
	516,504	FNMA		6.000		10/01/40		589
	708,570	FNMA		4.500		11/01/40		774
	11,790,552	FNMA		4.500		01/01/41		12,830
	1,168,629	FNMA		4.500		01/01/41		1,276
	20,910,641	FNMA		4.500		01/01/41		22,832
	1,005,554	FNMA		4.500		02/01/41		1,098
	10,867,204	FNMA		5.000		05/01/41		11,865
	1,258,601	FNMA		4.500		06/01/41		1,374
	1,022,770	FNMA		4.500		06/01/41		1,117
	662,522	FNMA		5.000		06/01/41		725
	3,679,964	FNMA		5.000		07/01/41		4,025
	976,327	FNMA		5.000		08/01/41		1,067
	4,522,371	FNMA		4.500		09/01/41		4,923
	1,454,659	FNMA		4.500		12/01/41		1,589
	21,799,888	FNMA		5.500		12/01/41		24,911
	2,003,478	FNMA		4.500		01/01/42		2,187
	1,275,975	FNMA		4.500		01/01/42		1,393
	1,453,198	FNMA		4.500		03/01/42		1,587
	1,115,242	FNMA		4.500		04/01/42		1,218
	7,361,647	FNMA		4.500		04/01/42		7,965
	1,446,043	FNMA		4.500		06/01/42		1,579
	6,095,767	FNMA		4.500		06/01/42		6,585
	1,046,121	FNMA		4.500		07/01/42		1,142
	13,580,884	FNMA		4.500		08/01/42		14,776
	201,705	FNMA		3.000		10/01/42		203

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	18,494,812		FNMA		3.000	%	10/01/42	$	18,648
	20,433,820	w	FNMA		3.000		01/01/43		20,603
	5,165,795		FNMA		4.500		01/01/43		5,556
	25,942,915	w	FNMA		3.000		02/01/43		26,157
	17,658,258		FNMA		3.000		02/25/43		18,030
	11,607		FNMA		3.000		04/01/43		12
	16,632,668		FNMA		3.000		08/25/43		16,987
	13,394,806		FNMA		4.500		10/01/43		14,579
	8,919,334		FNMA		4.000		04/01/44		9,468
	5,327,382		FNMA		4.000		06/01/44		5,654
	2,679,579		FNMA		4.000		06/01/44		2,844
	8,427,784		FNMA		4.500		06/01/44		9,187
	3,147,365		FNMA		4.000		07/01/44		3,341
	1,594,726		FNMA		4.000		07/01/44		1,693
	4,901,567		FNMA		4.000		08/01/44		5,200
	1,990,174		FNMA		4.000		08/01/44		2,113
	14,096,780		FNMA		4.000		08/01/44		14,965
	5,048,010		FNMA		4.000		08/01/44		5,357
	1,377,970		FNMA		4.000		09/01/44		1,463
	1,132,715		FNMA		4.000		09/01/44		1,203
	6,347,233		FNMA		4.000		10/01/44		6,738
	8,396,329		FNMA		4.500		10/01/44		9,148
	15,361,602		FNMA		4.500		11/01/44		16,746
	12,668,218		FNMA		4.000		12/01/44		13,448
	4,532,172		FNMA		4.500		12/01/44		4,940
	8,372,752		FNMA		4.000		01/01/45		8,888
	44,237,502		FNMA		3.000		02/25/45		44,936
	816,854		FNMA		3.500		03/01/45		845
	579,377		FNMA		3.500		03/01/45		601
	2,110,903		FNMA		4.500		03/01/45		2,314
	12,823,161		FNMA		3.000		03/25/45		13,067
	712,379		FNMA		4.500		04/01/45		781
	18,321,273		FNMA		3.500		05/01/45		19,026
	2,509,179		FNMA		4.000		05/01/45		2,676
	5,495,060		FNMA		4.000		06/01/45		5,860
	16,055,804		FNMA		4.000		07/01/45		17,143
	2,751,713		FNMA		4.000		08/01/45		2,935
	49,903,960		FNMA		4.000		09/01/45		53,206
	1,493,687		FNMA		4.000		10/01/45		1,593
	9,716,694		FNMA		4.000		11/01/45		10,362
	3,123,544		FNMA		4.000		12/01/45		3,331
	25,331,917		FNMA		3.500		01/01/46		26,260
	46,112,846		FNMA		4.000		01/01/46		49,091
	25,140,067		FNMA		3.500		02/01/46		26,048
	22,527,795		FNMA		3.500		06/01/46		23,359
	5,075,699		FNMA		3.500		08/01/46		5,234
	2,063,755		FNMA		4.000		10/01/46		2,188
	78,573,592		FNMA		3.000		11/01/46		78,844
	87,186,863		FNMA		3.000		12/01/46		87,487
	51,535,714		FNMA		3.500		12/01/46		53,147
	49,792,221		FNMA		3.500		12/01/46		51,349
	5,115,241		FNMA		4.000		12/01/46		5,469
	65,523,787		FNMA		3.000		01/01/47		65,750
	147,698,403		FNMA		3.500		01/01/47		152,316

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,742,826		FNMA		3.500	%	02/01/47	$	5,922
	11,647,781		FNMA		3.000		04/01/47		11,688
	2,013,362		FNMA		3.000		04/01/47		2,020
	100,760,823		FNMA		4.000		07/01/47		106,102
	89,653,870		FNMA		4.500		07/01/47		96,231
	42,156,116		FNMA		4.000		08/01/47		44,391
	2,028,544		FNMA		4.500		09/01/47		2,177
	9,000,000	h	FNMA		4.500		10/25/47		9,657
	4,000,000	h	FNMA		3.000		11/25/47		4,005
	8,000,000	h	FNMA		3.500		11/25/47		8,229
	5,186		Government National Mortgage Association (GNMA)		8.000		06/15/24		5
	21,099		GNMA		8.500		11/20/30		24
	35,928		GNMA		8.500		12/20/30		42
	14,822,043		GNMA		3.700		10/15/33		15,618
	294,963		GNMA		6.000		10/20/36		330
	334,031		GNMA		6.000		01/20/37		383
	1,001,811		GNMA		6.000		02/20/37		1,141
	727,484		GNMA		5.000		04/15/38		801
	348,427		GNMA		6.000		08/20/38		395
	644,159		GNMA		6.500		11/20/38		741
	65,820		GNMA		4.500		02/20/39		73
	301,228		GNMA		2.176		05/16/39		301
	2,304,484		GNMA		5.000		06/15/39		2,571
	1,570,403		GNMA		5.000		06/15/39		1,752
	11,686,849		GNMA		3.700		08/15/40		12,196
	92,729		GNMA		4.500		08/20/41		102
	331,060		GNMA		4.500		09/20/41		366
	72,307		GNMA		4.500		01/20/44		80
	89,787		GNMA		4.500		02/20/44		99
	139,658		GNMA		4.500		05/20/44		154
	1,038,264		GNMA		4.500		05/20/44		1,146
	1,084,763		GNMA		4.500		08/20/44		1,198
	1,095,631		GNMA		4.500		09/20/44		1,209
	389,955		GNMA		4.500		10/20/44		429
	295,735		GNMA		4.500		11/20/44		321
	682,098		GNMA		4.500		12/20/44		753
	1,096,346		GNMA		4.500		02/20/45		1,210
	1,195,824		GNMA		4.500		08/20/45		1,321
	1,290,816		GNMA		4.500		08/20/45		1,424
	1,207,980		GNMA		4.500		12/20/45		1,334
	137,803,181		GNMA		3.500		06/20/47		143,407
	33,607,049		GNMA		4.000		06/20/47		35,513
	152,394,340		GNMA		3.000		08/20/47		154,644
	75,215,405		GNMA		3.500		08/20/47		78,274
	9,000,000	h	GNMA		3.500		11/20/47		9,340
			TOTAL MORTGAGE BACKED						2,655,922
MUNICIPAL BONDS - 3.3%
	8,155,000		California Housing Finance Agency		1.475		02/01/18		8,160
	8,045,000		California Housing Finance Agency		1.525		08/01/18		8,047
	28,410,000		California State University		3.899		11/01/47		29,124
	10,000,000		City of Dallas TX Waterworks & Sewer System Revenue		0.985		10/01/18		9,940

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	8,725,000	City of Dallas TX Waterworks & Sewer System Revenue		1.217	%	10/01/19	$	8,626
	5,000,000	City of Dallas TX Waterworks & Sewer System Revenue		1.868		10/01/22		4,908
	2,775,000	City of Dallas TX Waterworks & Sewer System Revenue		2.068		10/01/23		2,717
	1,350,000	City of Dallas TX Waterworks & Sewer System Revenue		2.389		10/01/25		1,317
	3,995,000	City of Los Angeles CA Wastewater System Revenue		4.029		06/01/39		4,097
	2,025,000	City of San Antonio TX Customer Facility Charge Revenue		4.253		07/01/24		2,065
	1,575,000	City of San Antonio TX Customer Facility Charge Revenue		4.353		07/01/25		1,611
	20,000,000	City of San Francisco CA Public Utilities Commission Water Revenue		4.035		11/01/41		20,428
	9,950,000	Commonwealth of Massachusetts		3.277		06/01/46		9,528
	1,875,000	County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,841
	1,505,000	County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,478
	1,500,000	County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		1,467
	3,500,000	County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,408
	3,500,000	County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		3,379
	2,500,000	County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,410
	3,730,000	County of Miami-Dade FL Aviation Revenue		3.732		10/01/37		3,707
	3,900,000	County of Miami-Dade FL Aviation Revenue		3.982		10/01/41		3,948
	25,000,000	Florida Hurricane Catastrophe Fund Finance Corp		2.995		07/01/20		25,481
	1,875,000	Imperial Irrigation District Electric System Revenue		0.995		11/01/17		1,874
	1,895,000	Imperial Irrigation District Electric System Revenue		1.095		11/01/18		1,882
	5,265,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.125		09/01/19		5,196
	2,350,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.500		09/01/21		2,280
	1,000,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		2.000		09/01/22		982
	4,805,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		4,599
	2,560,000	Michigan Finance Authority		1.941		11/01/21		2,509
	3,000,000	Michigan Finance Authority		2.244		11/01/22		2,965
	5,680,000	New York State Dormitory Authority		3.998		07/01/39		5,820
	6,000,000	New York State Dormitory Authority		3.879		07/01/46		6,073
	8,000,000	Ohio State University		3.798		12/01/46		8,204
	3,500,000	Palm Beach County Solid Waste Authority		2.083		10/01/21		3,473
	2,625,000	Permanent University Fund		1.730		07/01/18		2,631
	4,720,000	Permanent University Fund		1.880		07/01/19		4,734
	2,320,000	Permanent University Fund		2.258		07/01/20		2,345
	2,160,000	Permanent University Fund		2.408		07/01/21		2,187
	2,750,000	Permanent University Fund		2.508		07/01/22		2,779
	2,855,000	Permanent University Fund		2.608		07/01/23		2,885
	3,250,000	Permanent University Fund		2.708		07/01/24		3,273
	2,335,000	Permanent University Fund		2.808		07/01/25		2,343
	3,775,000	Permanent University Fund		2.908		07/01/26		3,805
	4,000,000	Permanent University Fund		3.008		07/01/27		4,020
	2,000,000	Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,026

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,700,000	Port of Corpus Christi Authority of Nueces County		3.287	%	12/01/23	$	1,719
	1,500,000	Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,509
	1,000,000	Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		999
	7,500,000	Port of Morrow OR		1.582		09/01/20		7,410
	2,075,000	Port of Morrow OR		1.782		09/01/21		2,048
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		959
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		959
	1,250,000	Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,192
	1,785,000	Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,684
	1,600,000	Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,502
	700,000	Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		653
	900,000	Regents of the University of California Medical Center Pooled Revenue		2.759		05/15/29		836
	3,060,000	State of Georgia		2.000		07/01/20		3,077
	3,215,000	State of Georgia		2.150		07/01/21		3,222
	3,465,000	State of Georgia		1.910		02/01/23		3,390
	3,905,000	State of Georgia		2.750		07/01/25		3,937
	4,100,000	State of Georgia		2.850		07/01/26		4,128
	4,305,000	State of Georgia		2.950		07/01/27		4,341
	4,520,000	State of Georgia		3.050		07/01/28		4,561
	3,245,000	State of Georgia		3.150		07/01/29		3,279
	3,200,000	State of Illinois		4.350		06/01/18		3,238
	7,500,000	State of Illinois		2.000		06/15/19		7,512
	7,160,000	State of Illinois		5.463		02/01/20		7,534
	12,500,000	State of Illinois		1.930		06/15/20		12,415
	12,500,000	State of Illinois		2.250		06/15/21		12,424
	12,500,000	State of Illinois		3.150		06/15/26		12,469
	12,500,000	State of Illinois		3.250		06/15/27		12,450
	20,000,000	State of Michigan		1.579		11/01/20		19,827
	13,000,000	State of Michigan		1.779		11/01/21		12,853
	7,000,000	State of Michigan		1.966		11/01/22		6,901
	9,900,000	State of Wisconsin		3.154		05/01/27		10,024
	6,000,000	University of California		2.570		05/15/22		6,054
	17,045,000	University of California		3.931		05/15/45		17,264
	20,000,000	University of New Mexico		3.532		06/20/32		20,276
	500,000	Utah Municipal Power Agency		1.630		07/01/19		497
	835,000	Utah Municipal Power Agency		1.823		07/01/20		826
	500,000	Utah Municipal Power Agency		2.023		07/01/21		493
	1,750,000	Utah Municipal Power Agency		2.262		07/01/22		1,723
	1,500,000	Utah Municipal Power Agency		2.512		07/01/23		1,484
	2,160,000	Virginia Port Authority		4.228		07/01/36		2,165
		TOTAL MUNICIPAL BONDS						456,406
U.S. TREASURY SECURITIES - 16.2%
	2,185,000	United States Treasury Bond		5.250		11/15/28		2,801
	100,686,000	United States Treasury Bond		5.375		02/15/31		134,754
	65,602,000	United States Treasury Bond		4.500		02/15/36		84,334

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,500,000	United States Treasury Bond		4.750	%	02/15/37	$	5,973
	38,000,000	United States Treasury Bond		3.500		02/15/39		42,881
	11,900,000	United States Treasury Bond		3.875		08/15/40		14,145
	19,135,000	United States Treasury Bond		4.375		05/15/41		24,461
	16,434,000	United States Treasury Bond		3.750		08/15/41		19,196
	56,375,000	United States Treasury Bond		3.625		08/15/43		64,642
	35,680,000	United States Treasury Bond		3.000		05/15/45		36,715
	81,710,000	United States Treasury Bond		2.875		08/15/45		82,026
	102,850,000	United States Treasury Bond		2.500		05/15/46		95,510
	51,795,000	United States Treasury Bond		3.000		05/15/47		53,258
	52,000,000	United States Treasury Bond		2.750		08/15/47		50,834
	2,500,000	United States Treasury Note		1.000		12/31/17		2,499
	13,945,000	United States Treasury Note		0.875		03/31/18		13,919
	120,000,000	United States Treasury Note		0.875		05/31/18		119,695
	32,200,000	United States Treasury Note		0.625		06/30/18		32,043
	37,665,000	United States Treasury Note		0.875		07/15/18		37,534
	12,100,000	United States Treasury Note		2.250		07/31/18		12,190
	12,700,000	United States Treasury Note		0.750		08/31/18		12,629
	9,966,900	United States Treasury Note		1.375		09/30/18		9,966
	71,675,000	United States Treasury Note		0.750		10/31/18		71,191
	1,365,000	United States Treasury Note		1.750		10/31/18		1,370
	5,325,000	United States Treasury Note		1.000		11/30/18		5,301
	9,115,000	United States Treasury Note		1.250		12/31/18		9,098
	10,950,000	United States Treasury Note		1.125		01/31/19		10,908
	17,775,000	United States Treasury Note		1.000		03/15/19		17,668
	1,100,000	United States Treasury Note		1.250		03/31/19		1,097
	1,195,000	United States Treasury Note		0.875		04/15/19		1,185
	5,400,000	United States Treasury Note		1.250		04/30/19		5,384
	52,490,000	United States Treasury Note		1.250		05/31/19		52,322
	60,000,000	United States Treasury Note		1.250		06/30/19		59,782
	104,575,000	United States Treasury Note		1.375		07/31/19		104,395
	87,700,000	United States Treasury Note		1.250		08/31/19		87,316
	3,000,000	United States Treasury Note		1.375		02/15/20		2,987
	4,790,000	United States Treasury Note		1.625		03/15/20		4,797
	25,000,000	United States Treasury Note		1.500		05/15/20		24,945
	21,800,000	United States Treasury Note		1.625		07/31/20		21,807
	91,565,000	United States Treasury Note		1.500		08/15/20		91,275
	97,300,000	United States Treasury Note		1.375		09/15/20		96,608
	3,000,000	United States Treasury Note		1.750		12/31/20		3,005
	750,000	United States Treasury Note		1.375		01/31/21		742
	825,000	United States Treasury Note		2.125		01/31/21		836
	12,589,300	United States Treasury Note		1.125		02/28/21		12,340
	12,720,000	United States Treasury Note		2.000		02/28/21		12,840
	18,635,000	United States Treasury Note		1.375		04/30/21		18,395
	3,240,000	United States Treasury Note		2.250		04/30/21		3,296
	1,040,000	United States Treasury Note		1.375		05/31/21		1,026
	16,465,000	United States Treasury Note		2.000		05/31/21		16,608
	1,730,000	United States Treasury Note		2.125		06/30/21		1,752
	11,825,000	United States Treasury Note		2.000		08/31/21		11,915
	83,872,000	United States Treasury Note		8.000		11/15/21		104,480
	21,575,000	United States Treasury Note		1.875		01/31/22		21,578
	32,575,000	United States Treasury Note		1.750		02/28/22		32,403
	1,710,000	United States Treasury Note		1.750		03/31/22		1,700
	1,600,000	United States Treasury Note		1.875		03/31/22		1,599
	8,000,000	United States Treasury Note		1.750		04/30/22		7,948
	4,565,000	United States Treasury Note		2.125		06/30/22		4,607

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	35,658,000		United States Treasury Note			1.875	%	07/31/22	$	35,569
	23,000,000		United States Treasury Note			2.000		07/31/22		23,082
	15,920,000		United States Treasury Note			1.625		08/31/22		15,696
	106,110,000		United States Treasury Note			1.875		08/31/22		105,799
	26,465,000		United States Treasury Note			1.750		09/30/22		26,213
	63,000,000		United States Treasury Note			1.875		09/30/22		62,823
	500,000		United States Treasury Note			1.750		01/31/23		494
	1,875,000		United States Treasury Note			1.625		04/30/23		1,836
	510,000		United States Treasury Note			1.375		06/30/23		491
	500,000		United States Treasury Note			1.250		07/31/23		478
	15,000,000		United States Treasury Note			1.625		10/31/23		14,619
	15,705,000		United States Treasury Note			2.250		12/31/23		15,845
	8,800,000		United States Treasury Note			2.125		02/29/24		8,803
	1,125,000		United States Treasury Note			2.125		07/31/24		1,123
	42,086,000		United States Treasury Note			2.250		08/15/27		41,780
			TOTAL U.S. TREASURY SECURITIES							2,233,162
			TOTAL GOVERNMENT BONDS							6,268,437
			(Cost $6,229,598)
STRUCTURED ASSETS - 18.0%
ASSET BACKED - 7.7%
	334,580	i	ACE Securities Corp Home Equity Loan Trust	LIBOR 1 M + 0.735%		1.972		08/25/35		335
			Series - 2005 HE5 (Class M2)
	11,450,000		Ally Auto Receivables Trust			2.100		03/15/22		11,484
			Series - 2017 2 (Class A4)
	15,691,667		AmeriCredit Automobile Receivables Trust			2.420		05/08/19		15,694
			Series - 2013 2 (Class D)
	1,687,751		AmeriCredit Automobile Receivables Trust			2.720		09/09/19		1,690
			Series - 2013 4 (Class C)
	1,550,000		AmeriCredit Automobile Receivables Trust			2.400		01/08/21		1,559
			Series - 2015 2 (Class C)
	3,500,000		AmeriCredit Automobile Receivables Trust			1.460		05/10/21		3,489
			Series - 2016 3 (Class A3)
	5,250,000		AmeriCredit Automobile Receivables Trust			1.530		07/08/21		5,230
			Series - 2016 4 (Class A3)
	12,805,000		AmeriCredit Automobile Receivables Trust			3.340		08/08/21		12,983
			Series - 2015 3 (Class D)
	10,500,000		AmeriCredit Automobile Receivables Trust			1.870		08/18/21		10,495
			Series - 2017 1 (Class A3)
	15,000,000		AmeriCredit Automobile Receivables Trust			1.900		03/18/22		14,983
			Series - 2017 3 (Class A3)
	5,500,000		AmeriCredit Automobile Receivables Trust			2.740		12/08/22		5,469
			Series - 2016 4 (Class D)
	74,236	g	Asset Backed Funding Corp NIM Trust			5.900		07/26/35		0	^
			Series - 2006 WMC1 (Class N1)
	5,000,000	g,i	Aventura Mall Trust			3.867		12/05/32		5,095
			Series - 2013 AVM (Class E)
	1,000,000	g,i	Aventura Mall Trust			3.867		12/05/32		1,025
			Series - 2013 AVM (Class C)
	3,500,000	g,i	Aventura Mall Trust			3.867		12/05/32		3,616
			Series - 2013 AVM (Class B)

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,701,000	g	Avis Budget Rental Car Funding AESOP LLC		1.920	%	09/20/19	$	2,700
			Series - 2013 1A (Class A)
	12,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.070		09/20/23		12,092
			Series - 2017 1A (Class A)
	2,500,000	g	Bowman Park CLO Ltd		3.545		11/23/25		2,508
			Series - 2014 1A (Class B2R)
	3,227,946		Capital Auto Receivables Asset Trust		1.620		03/20/19		3,229
			Series - 2015 4 (Class A2)
	3,500,000		Capital Auto Receivables Asset Trust		1.630		01/20/21		3,487
			Series - 2016 2 (Class A4)
	5,250,000		Capital Auto Receivables Asset Trust		1.690		03/20/21		5,234
			Series - 2016 3 (Class A4)
	8,000,000	g	Capital Automotive REIT		3.660		10/15/44		8,093
			Series - 2014 1A (Class A)
	6,970,833	g	Capital Automotive REIT		3.870		04/15/47		7,029
			Series - 2017 1A (Class A1)
	29,000,000		Capital One Multi-Asset Execution Trust		2.430		01/15/25		29,317
			Series - 2017 A3 (Class A3)
	3,000,000		CarMax Auto Owner Trust		1.680		09/15/21		2,979
			Series - 2016 2 (Class A4)
	3,000,000		CarMax Auto Owner Trust		1.600		01/18/22		2,966
			Series - 2016 3 (Class A4)
	5,500,000		CarMax Auto Owner Trust		1.970		04/15/22		5,499
			Series - 2017 3 (Class A3)
	4,850,000		CarMax Auto Owner Trust		2.250		09/15/22		4,840
			Series - 2017 2 (Class A4)
	2,500,000	g	Cent CLO 21 Ltd		3.500		07/27/26		2,510
			Series - 2014 21A (Class A2BR)
	442,286	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		419
			Series - 2004 2 (Class 1M2)
	636,279		CIT Group Home Equity Loan Trust (Step Bond)		6.200		02/25/30		648
			Series - 2002 1 (Class AF6)
	5,500,000		CNH Equipment Trust		1.630		08/15/21		5,489
			Series - 2016 B (Class A3)
	7,000,000		CNH Equipment Trust		1.440		12/15/21		6,953
			Series - 2016 C (Class A3)
	12,000,000		CNH Equipment Trust		2.170		04/17/23		12,000
			Series - 2017 B (Class A4)
	12,500,000		CNH Equipment Trust		2.480		02/15/24		12,598
			Series - 2017 A (Class A4)
	5,250,000	g	DaimlerChrysler Capital Auto Receivables Trust		1.640		07/15/21		5,234
			Series - 2016 BA (Class A3)
	7,800,000	g	DB Master Finance LLC		3.262		02/20/45		7,812
			Series - 2015 1A (Class A2I)
	19,987,500	g	DB Master Finance LLC		3.980		02/20/45		20,448
			Series - 2015 1A (Class A2II)
	18,000,000	g,h	DB Master Finance LLC		3.629		11/20/47		18,062
			Series - 2017 1A (Class A2I)
	5,000,000		Discover Card Execution Note Trust		2.390		07/15/24		5,047
			Series - 2017 A2 (Class A2)
	16,787,500	g	Domino’s Pizza Master Issuer LLC		3.484		10/25/45		16,963
			Series - 2015 1A (Class A2I)

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	2,468,750	g	Domino’s Pizza Master Issuer LLC			4.474	%	10/25/45	$	2,547
			Series - 2015 1A (Class A2II)
	65,000,000	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		64,694
			Series - 2017 1A (Class A2II)
	6,483,750	g	FOCUS Brands Funding LLC			3.857		04/30/47		6,556
			Series - 2017 1A (Class A2I)
	11,000,000		Ford Credit Auto Lease Trust			1.880		04/15/20		11,015
			Series - 2017 A (Class A3)
	18,000,000	g	Ford Credit Auto Owner Trust			2.150		07/15/26		18,066
			Series - 2015 1 (Class A)
	17,400,000	g	Ford Credit Auto Owner Trust			2.440		01/15/27		17,565
			Series - 2015 2 (Class A)
	3,500,000	g	Ford Credit Auto Owner Trust			2.310		08/15/27		3,515
			Series - 2016 1 (Class A)
	16,500,000	g	Ford Credit Auto Owner Trust			2.030		12/15/27		16,369
			Series - 2016 2 (Class A)
	12,000,000	g	Ford Credit Auto Owner Trust			2.620		08/15/28		12,117
			Series - 2017 1 (Class A)
	17,500,000	g	Ford Credit Auto Owner Trust			2.360		03/15/29		17,498
			Series - 2017 2 (Class A)
	3,500,000		Ford Credit Floorplan Master Owner Trust			2.070		05/15/22		3,510
			Series - 2017 1 (Class A1)
	5,000,000		Ford Credit Floorplan Master Owner Trust			2.390		08/15/22		5,045
			Series - 2015 5 (Class A)
	4,000,000		GM Financial Automobile Leasing Trust			2.060		05/20/20		4,011
			Series - 2017 1 (Class A3)
	4,000,000		GM Financial Automobile Leasing Trust			2.020		09/21/20		4,006
			Series - 2017 2 (Class A3)
	6,250,000		GM Financial Automobile Leasing Trust			2.010		11/20/20		6,248
			Series - 2017 3 (Class A3)
	7,000,000	g	GMF Floorplan Owner Revolving Trust			2.130		07/15/20		6,978
			Series - 2017 2 (Class A1)
	3,500,000	g	GMF Floorplan Owner Revolving Trust			1.960		05/17/21		3,505
			Series - 2016 1 (Class A1)
	988,240	g	HERO Funding Trust			3.280		09/20/48		994
			Series - 2017 2A (Class A1)
	1,976,479	g	HERO Funding Trust			4.070		09/20/48		2,027
			Series - 2017 2A (Class A2)
	5,705,000	g	Hertz Vehicle Financing LLC			1.830		08/25/19		5,684
			Series - 2013 1A (Class A2)
	5,000,000	g	Hertz Vehicle Financing LLC			2.320		03/25/20		4,994
			Series - 2016 1A (Class A)
	11,875,000	g	Hertz Vehicle Financing LLC			2.270		07/25/20		11,818
			Series - 2016 3A (Class A)
	10,473,281	g	Hilton Grand Vacations Trust			2.660		12/26/28		10,482
			Series - 2017 AA (Class A)
	6,109,414	g,i	Hilton Grand Vacations Trust			2.960		12/26/28		6,118
			Series - 2017 AA (Class B)
	1,166,681	i	Irwin Home Equity Corp	LIBOR 1 M + 0.760%		1.997		02/25/34		1,154
			Series - 2005 A (Class A3)
	10,196,643	g	JG Wentworth XXII LLC			3.820		12/15/48		10,353
			Series - 2010 3A (Class A)
	4,000,000		John Deere Owner Trust			2.110		12/15/23		4,016
			Series - 2017 A (Class A4)

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	20,000,000		John Deere Owner Trust			2.110	%	07/15/24	$	19,972
			Series - 2017 B (Class A4)
	1,683,967	i	Lehman XS Trust	LIBOR 1 M + 0.250%		1.487		02/25/36		1,665
			Series - 2006 1 (Class 1A1)
	4,809,054	i	Lehman XS Trust			6.500		06/25/46		4,066
			Series - 2006 13 (Class 2A1)
	5,000,000	g	Madison Park Funding XIII Ltd			3.300		01/19/25		4,997
			Series - 2014 13A (Class B2R)
	10,406,727	g	MVW Owner Trust			2.420		12/20/34		10,387
			Series - 2017 1A (Class A)
	7,000,000	g,i	Navistar Financial Dealer Note Master Owner Trust II	LIBOR 1 M + 1.350%		2.587		09/27/21		7,049
			Series - 2016 1 (Class A)
	25,851,202	g,i	New Residential Mortgage Loan Trust			4.000		02/25/57		26,912
			Series - 2017 1A (Class A1)
	3,500,000	g	OHA Loan Funding LLC			3.600		10/20/26		3,534
			Series - 2014 1A (Class B2R)
	742,322	g	OneMain Direct Auto Receivables Trust			2.040		01/15/21		743
			Series - 2016 1A (Class A)
	322	g	OneMain Financial Issuance Trust			2.430		06/18/24		0	^
			Series - 2014 1A (Class A)
	8,840,000	g	Palisades Center Trust			3.357		04/13/33		8,887
			Series - 2016 PLSD (Class B)
	17,822	i	Renaissance Home Equity Loan Trust	LIBOR 1 M + 0.880%		2.117		08/25/33		17
			Series - 2003 2 (Class A)
	701,930		Residential Funding Mortgage Securities II, Inc (Step Bond)			5.950		08/25/34		708
			Series - 2005 HI1 (Class A5)
	408,195		Residential Funding Mortgage Securities II, Inc (Step Bond)			6.010		02/25/36		410
			Series - 2006 HI1 (Class M1)
	245,439		Residential Funding Mortgage Securities II, Inc (Step Bond)			6.060		02/25/36		257
			Series - 2006 HI1 (Class M2)
	3,583,717		Santander Drive Auto Receivables Trust			2.570		03/15/19		3,588
			Series - 2013 2 (Class D)
	3,252		Santander Drive Auto Receivables Trust			1.810		04/15/19		3
			Series - 2013 3 (Class C)
	4,625,000		Santander Drive Auto Receivables Trust			2.420		04/15/19		4,635
			Series - 2013 3 (Class D)
	13,039,373		Santander Drive Auto Receivables Trust			2.250		06/17/19		13,053
			Series - 2013 5 (Class C)
	2,673,427	g	Santander Drive Auto Receivables Trust			3.120		10/15/19		2,680
			Series - 2013 A (Class C)
	5,325,000		Santander Drive Auto Receivables Trust			2.910		04/15/20		5,365
			Series - 2014 1 (Class D)
	4,468,933		Santander Drive Auto Receivables Trust			1.560		05/15/20		4,469
			Series - 2016 2 (Class A3)
	496,883		Santander Drive Auto Receivables Trust			1.960		05/15/20		497
			Series - 2015 5 (Class B)
	5,666,987		Santander Drive Auto Receivables Trust			2.130		08/17/20		5,676
			Series - 2014 3 (Class C)
	9,000,000		Santander Drive Auto Receivables Trust			1.770		09/15/20		8,996
			Series - 2017 1 (Class A3)

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,500,000		Santander Drive Auto Receivables Trust		1.870	%	12/15/20	$	3,502
			Series - 2017 2 (Class A3)
	5,000,000		Santander Drive Auto Receivables Trust		1.870		06/15/21		4,993
			Series - 2017 3 (Class A3)
	600,000		Santander Drive Auto Receivables Trust		2.740		12/15/21		605
			Series - 2015 5 (Class C)
	6,000,000		Santander Drive Auto Receivables Trust		2.800		08/15/22		5,998
			Series - 2016 3 (Class D)
	8,000,000		Santander Drive Auto Receivables Trust		3.170		04/17/23		8,026
			Series - 2017 1 (Class D)
	134,531	g	Sierra Receivables Funding Co LLC		1.590		11/20/29		134
			Series - 2013 1A (Class A)
	3,163,121	g	Sierra Receivables Funding Co LLC		2.700		10/20/30		3,166
			Series - 2013 3A (Class B)
	2,987,318	g,i	Sierra Receivables Funding Co LLC		2.050		06/20/31		2,982
			Series - 2014 2A (Class A)
	1,230,072	g,i	Sierra Receivables Funding Co LLC		2.400		06/20/31		1,228
			Series - 2014 2A (Class B)
	3,789,187	g	Sierra Receivables Funding Co LLC		2.400		03/22/32		3,787
			Series - 2015 1A (Class A)
	20,369,975	g	Sierra Receivables Funding Co LLC		2.910		03/20/34		20,480
			Series - 2017 1A (Class A)
	895,777	g	Sierra Receivables Funding Co LLC		3.200		03/20/34		900
			Series - 2017 1A (Class B)
	3,629,217	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		3,631
			Series - 2015 3A (Class A)
	862,047	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		863
			Series - 2015 3A (Class B)
	3,260,264	g	Sierra Timeshare Receivables Funding LLC		3.080		03/21/33		3,288
			Series - 2016 1A (Class A)
	7,578,366	g	Sierra Timeshare Receivables Funding LLC		2.330		07/20/33		7,565
			Series - 2016 2A (Class A)
	1,691,600	g	Sierra Timeshare Receivables Funding LLC		2.780		07/20/33		1,688
			Series - 2016 2A (Class B)
	7,533,404	g	Sierra Timeshare Receivables Funding LLC		2.430		10/20/33		7,512
			Series - 2016 3A (Class A)
	4,464,239	g	Sierra Timeshare Receivables Funding LLC		2.630		10/20/33		4,406
			Series - 2016 3A (Class B)
	10,943,089	g	SLM Student Loan Trust		3.740		02/15/29		11,121
			Series - 2011 B (Class A2)
	6,743,000	g	SMB Private Education Loan Trust		2.490		06/15/27		6,765
			Series - 2015 A (Class A2A)
	11,972,969	g	SMB Private Education Loan Trust		2.750		07/15/27		12,095
			Series - 2015 C (Class A2A)
	13,703,000	g	SMB Private Education Loan Trust		2.430		02/17/32		13,591
			Series - 2016 B (Class A2A)
	16,020,000	g	SMB Private Education Loan Trust		2.880		09/15/34		16,152
			Series - 2017 A (Class A2A)
	4,352,847	g	SoFi Professional Loan Program LLC		1.530		04/25/33		4,346
			Series - 2016 D (Class A2A)
	12,955,000	g	SoFi Professional Loan Program LLC		2.340		04/25/33		12,843
			Series - 2016 D (Class A2B)
	15,150,000	g	SoFi Professional Loan Program LLC		2.490		01/25/36		15,100
			Series - 2016 E (Class A2B)

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	3,903,694	g	SoFi Professional Loan Program LLC			2.760	%	12/26/36	$	3,939
			Series - 2016 A (Class A2)
	2,411,962	g	SoFi Professional Loan Program LLC			1.550		03/26/40		2,406
			Series - 2017 A (Class A2A)
	1,925,000	g	SoFi Professional Loan Program LLC			2.400		03/26/40		1,908
			Series - 2017 A (Class A2B)
	20,490,160	g	SoFi Professional Loan Program LLC			1.830		05/25/40		20,495
			Series - 2017 B (Class A1FX)
	13,050,000	g	SoFi Professional Loan Program LLC			2.740		05/25/40		13,100
			Series - 2017 B (Class A2FX)
	1,000,000	g	SoFi Professional Loan Program LLC			2.630		07/25/40		998
			Series - 2017 C (Class A2B)
	3,725,915	g	SolarCity LMC			4.590		04/20/44		3,696
			Series - 2014 1 (Class A)
	26,751,208	g	SpringCastle America Funding LLC			3.050		04/25/29		26,929
			Series - 2016 AA (Class A)
	3,000,000	g	SpringCastle America Funding LLC			4.100		10/25/33		2,998
			Series - 2016 AA (Class B)
	13,117,500	g	Taco Bell Funding LLC			3.832		05/25/46		13,373
			Series - 2016 1A (Class A2I)
	12,548,000		UBS Commercial Mortgage Trust			3.256		06/15/50		12,827
			Series - 2017 C1 (Class ASB)
	2,000,000	h	UBS Commercial Mortgage Trust			3.366		10/15/50		2,060
			Series - 2017 2017-C4 (Class ASB)
	5,304,000	g	Verizon Owner Trust			1.680		05/20/21		5,286
			Series - 2016 2A (Class A)
	3,000,000	g	Verizon Owner Trust			2.060		09/20/21		3,008
			Series - 2017 1A (Class A)
	25,000,000	g	Verizon Owner Trust			1.920		12/20/21		24,978
			Series - 2017 2A (Class A)
	1,890,000	g	Vornado DP LLC			5.280		09/13/28		2,004
			Series - 2010 VNO (Class C)
	468,333	†,g,m	Wachovia Amortization Controlled Heloc NIM			5.683		08/12/47		470
			Series - 2006 N1 (Class N1)
	515,635	g,i	Wachovia Loan Trust	LIBOR 1 M + 0.360%		1.597		05/25/35		513
			Series - 2005 SD1 (Class A)
	34,300,000	g	Wendys Funding LLC			3.371		06/15/45		34,608
			Series - 2015 1A (Class A2I)
	3,000,000		World Financial Network Credit Card Master Trust			2.030		04/15/25		2,965
			Series - 2016 A (Class A)
	3,000,000		World Omni Auto Receivables Trust			2.240		06/15/23		3,013
			Series - 2017 A (Class A4)
	9,000,000		World Omni Auto Receivables Trust			2.250		10/16/23		9,019
			Series - 2017 B (Class A4)
	5,932,000		World Omni Automobile Lease Securitization Trust			1.610		01/15/22		5,913
			Series - 2016 A (Class A4)
			TOTAL ASSET BACKED							1,070,027
OTHER MORTGAGE BACKED - 10.3%
	3,596,066	g	Banc of America Commercial Mortgage Trust			5.416		01/15/49		3,615
			Series - 2007 1 (Class AM)

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,982,777	i	Banc of America Commercial Mortgage Trust		5.482	%	01/15/49	$	4,976
			Series - 2007 1 (Class AMFX)
	12,000,000		Banc of America Commercial Mortgage Trust		3.019		07/15/49		12,055
			Series - 2016 UB10 (Class ASB)
	1,160,000	g,i	Banc of America Commercial Mortgage Trust		5.821		02/10/51		1,157
			Series - 2007 4 (Class E)
	5,000,000	i	Banc of America Commercial Mortgage Trust		5.971		02/10/51		5,044
			Series - 2007 5 (Class AJ)
	3,065,000	g,i	Banc of America Commercial Mortgage Trust		6.000		02/10/51		3,057
			Series - 2007 4 (Class D)
	2,000,000	g,i	Banc of America Commercial Mortgage Trust		6.038		02/10/51		2,003
			Series - 2007 5 (Class B)
	15,000,000		BANK		3.419		05/15/50		15,518
			Series - 2017 BNK4 (Class ASB)
	20,000,000		BANK		3.254		07/15/60		20,210
			Series - 2017 BNK6 (Class A4)
	15,000,000		BBCMS MORTGAGE TRUST		3.488		02/15/50		15,517
			Series - 2017 C1 (Class ASB)
	12,500,000	g	BB-UBS Trust		3.430		11/05/36		12,789
			Series - 2012 SHOW (Class A)
	21,825,000	i	Bear Stearns Commercial Mortgage Securities Trust		6.120		09/11/42		21,815
			Series - 2007 T28 (Class AJ)
	222,887	i	Bear Stearns Commercial Mortgage Securities Trust		5.878		06/11/50		225
			Series - 2007 PW17 (Class AJ)
	2,500,000	i	CD Mortgage Trust		6.122		11/15/44		2,515
			Series - 2007 CD5 (Class B)
	4,500,000		CD Mortgage Trust		2.622		08/10/49		4,446
			Series - 2016 CD1 (Class ASB)
	10,000,000		CD Mortgage Trust		3.220		08/15/50		10,247
			Series - 2017 CD5 (Class AAB)
	8,000,000	g	CGBAM Commercial Mortgage Trust		3.516		04/10/28		8,095
			Series - 2015 SMRT (Class C)
	9,000,000	g	CGBAM Commercial Mortgage Trust		3.768		04/10/28		9,109
			Series - 2015 SMRT (Class D)
	22,000,000		CGMS Commercial Mortgage Trust		3.197		08/15/50		22,091
			Series - 2017 B1 (Class A3)
	5,000,000		CGMS Commercial Mortgage Trust		3.243		08/15/50		5,121
			Series - 2017 B1 (Class AAB)
	5,322,199	i	CHL Mortgage Pass-Through Trust		3.358		02/20/35		5,370
			Series - 2004 HYB9 (Class 1A1)
	3,000,000	g	Citigroup Commercial Mortgage Trust		2.228		09/10/31		2,973
			Series - 2016 SMPL (Class A)
	2,500,000	g	Citigroup Commercial Mortgage Trust		2.576		09/10/31		2,471
			Series - 2016 SMPL (Class B)
	3,643,355		Citigroup Commercial Mortgage Trust		1.506		05/10/49		3,605
			Series - 2016 C1 (Class A1)
	6,500,000		Citigroup Commercial Mortgage Trust		3.003		05/10/49		6,553
			Series - 2016 C1 (Class AAB)
	20,000,000		Citigroup Commercial Mortgage Trust		3.268		09/15/50		20,479
			Series - 2017 P8 (Class AAB)

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	11,235,153	i	COBALT CMBS Commercial Mortgage Trust			5.771	%	05/15/46	$	11,401
			Series - 2007 C3 (Class AJ)
	6,545,000	g	COMM Mortgage Trust			4.353		08/10/30		7,070
			Series - 2013 300P (Class A1)
	565,201		COMM Mortgage Trust			1.399		02/10/48		563
			Series - 2015 LC19 (Class A1)
	14,500,000		COMM Mortgage Trust			3.421		07/10/48		15,043
			Series - 2015 LC21 (Class ASB)
	3,423,303		COMM Mortgage Trust			1.667		07/10/50		3,421
			Series - 2015 PC1 (Class A1)
	10,000,000		COMM Mortgage Trust			3.317		09/10/50		10,262
			Series - 2017 COR2 (Class ASB)
	7,360,953	i	Connecticut Avenue Securities	LIBOR 1 M + 2.150%		3.387		09/25/28		7,442
			Series - 2016 C02 (Class 1M1)
	10,511,980	i	Connecticut Avenue Securities	LIBOR 1 M + 1.350%		2.587		01/25/29		10,568
			Series - 2016 C05 (Class 2M1)
	35,644,846	i	Connecticut Avenue Securities	LIBOR 1 M + 1.450%		2.687		01/25/29		35,976
			Series - 2016 C04 (Class 1M1)
	14,857,341	i	Connecticut Avenue Securities	LIBOR 1 M + 1.300%		2.537		04/25/29		15,031
			Series - 2016 C06 (Class 1M1)
	12,456,924	g,i	Connecticut Avenue Securities	LIBOR 1 M + 1.300%		2.165		07/25/29		12,575
			Series - 2017 C01 (Class 1M1)
	14,366,601	i	Connecticut Avenue Securities	LIBOR 1 M + 0.950%		2.187		10/25/29		14,436
			Series - 2017 C03 (Class 1M1)
	4,676,346	i	Connecticut Avenue Securities	LIBOR 1 M + 0.550%		1.787		01/25/30		4,674
			Series - 2017 C05 (Class 1M1)
	473,277	i	Credit Suisse Commercial Mortgage Trust			5.903		09/15/39		476
			Series - 2007 C4 (Class A1AJ)
	3,578,106	i	Credit Suisse Commercial Mortgage Trust			5.625		01/15/49		3,667
			Series - 2007 C2 (Class AJ)
	6,144,500	g,i	Credit Suisse Commercial Mortgage Trust			5.751		01/15/49		6,234
			Series - 2007 C2 (Class B)
	4,689,000	g,i	Credit Suisse Commercial Mortgage Trust			5.897		01/15/49		5,905
			Series - 2007 C2 (Class C)
	11,500,000	g	Credit Suisse Mortgage Capital Certificates			5.626		05/15/23		12,165
			Series - 2006 OMA (Class D)
	5,500,000		CSAIL Commercial Mortgage Trust			3.314		11/15/49		5,654
			Series - 2016 C7 (Class ASB)
	14,580,000		CSAIL Commercial Mortgage Trust			3.186		06/15/50		14,891
			Series - 2017 C8 (Class ASB)
	56,500,000	i	CSAIL Commercial Mortgage Trust			0.905		09/15/50		3,023
			Series - 2017 CX9 (Class XA)
	20,000,000		CSAIL Commercial Mortgage Trust			3.176		09/15/50		20,085
			Series - 2017 CX9 (Class A4)
	9,000,000		CSAIL Commercial Mortgage Trust			3.357		09/15/50		9,228
			Series - 2017 CX9 (Class A3)
	10,605,942		CSAIL Commercial Mortgage Trust			1.454		06/15/57		10,549
			Series - 2015 C2 (Class A1)
	11,000,000		DBJPM Mortgage Trust			2.756		09/10/49		10,980
			Series - 2016 C3 (Class ASB)
	10,000,000		DBJPM Mortgage Trust			3.121		06/10/50		10,163
			Series - 2017 C6 (Class ASB)
	30,000,000	g	DBUBS Mortgage Trust			4.537		07/10/44		31,942
			Series - 2011 LC2A (Class A4)

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	3,000,000	g,i	DBUBS Mortgage Trust			4.998	%	07/10/44	$	3,220
			Series - 2011 LC2A (Class B)
	5,000,000	g,i	DBUBS Mortgage Trust			5.727		07/10/44		5,408
			Series - 2011 LC2A (Class C)
	2,636,136	g,i	DBUBS Mortgage Trust	LIBOR 1 M + 1.350%		2.587		07/12/44		2,642
			Series - 2011 LC2A (Class A3FL)
	9,800,000	g,i	DBUBS Mortgage Trust			5.345		08/10/44		10,712
			Series - 2011 LC3A (Class AM)
	2,084,000	g,i	DBUBS Mortgage Trust			5.345		08/10/44		2,257
			Series - 2011 LC3A (Class B)
	5,525,000	g,i	DBUBS Mortgage Trust			5.685		11/10/46		6,000
			Series - 2011 LC1A (Class C)
	4,908,234	g	Four Times Square Trust Commercial Mortgage Pass-Through Certificates			5.401		12/13/28		5,333
			Series - 2006 4TS (Class A)
	9,929,135	i	GE Commercial Mortgage Corp			5.606		12/10/49		10,101
			Series - 2007 C1 (Class AM)
	3,665,000	i	GMAC Commercial Mortgage Securities, Inc			4.984		12/10/41		3,731
			Series - 2004 C3 (Class C)
	21,180,000	g	GRACE Mortgage Trust			3.369		06/10/28		21,910
			Series - 2014 GRCE (Class A)
	5,000,000	g	GRACE Mortgage Trust			3.520		06/10/28		5,119
			Series - 2014 GRCE (Class B)
	4,150,422	i	Greenwich Capital Commercial Funding Corp			6.013		07/10/38		4,185
			Series - 2006 GG7 (Class AM)
	3,000,000	g	GS Mortgage Securities Corp II			2.933		06/05/31		3,041
			Series - 2012 SHOP (Class A)
	15,943,000	g	GS Mortgage Securities Corp II			3.551		04/10/34		16,622
			Series - 2012 ALOH (Class A)
	5,910,000	g,i	GS Mortgage Securities Corp II			5.356		12/10/43		6,301
			Series - 2010 C2 (Class B)
	10,000,000		GS Mortgage Securities Trust			2.777		10/10/49		10,028
			Series - 2016 GS3 (Class AAB)
	12,000,000		GS Mortgage Securities Trust			3.230		05/10/50		12,274
			Series - 2017 GS6 (Class AAB)
	35,000,000		GS Mortgage Securities Trust			3.167		08/10/50		34,991
			Series - 2017 GS7 (Class A3)
	6,000,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		5,854
			Series - 2016 10HY (Class A)
	7,250,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		6,977
			Series - 2016 10HY (Class C)
	2,500,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		2,437
			Series - 2016 10HY (Class B)
	988,217	i	Impac CMB Trust	LIBOR 1 M + 0.660%		1.897		03/25/35		946
			Series - 2004 11 (Class 2A1)
	12,830,000	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.717		02/15/46		13,684
			Series - 2011 C3 (Class A4)
	8,145,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.360		02/15/46		8,613
			Series - 2011 C3 (Class C)

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	2,000,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.802	%	02/15/46	$	1,987
			Series - 2011 C3 (Class E)
	1,294,636	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.106		07/15/46		1,310
			Series - 2011 C4 (Class A3)
	8,825,000	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.388		07/15/46		9,358
			Series - 2011 C4 (Class A4)
	15,000,000	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.801		07/15/46		15,964
			Series - 2011 C4 (Class B)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.581		07/15/46		6,919
			Series - 2011 C4 (Class C)
	7,906,176		JP Morgan Chase Commercial Mortgage Securities Trust			1.324		08/15/49		7,804
			Series - 2016 JP2 (Class A1)
	7,000,000		JP Morgan Chase Commercial Mortgage Securities Trust			2.713		08/15/49		6,978
			Series - 2016 JP2 (Class ASB)
	2,429,013	g,i	JP Morgan Mortgage Trust			2.685		06/25/46		2,439
			Series - 2016 2 (Class A1)
	2,234,578	g,i	JP Morgan Mortgage Trust			2.859		06/25/46		2,250
			Series - 2016 2 (Class 2A1)
	63,181,288	i	JPMCC Commercial Mortgage Securities Trust			1.484		07/15/50		5,022
			Series - 2017 JP6 (Class XA)
	8,725,000		JPMCC Commercial Mortgage Securities Trust			3.241		09/15/50		8,930
			Series - 2017 JP7 (Class ASB)
	6,148,000		JPMDB Commercial Mortgage Securities Trust			3.492		03/15/50		6,392
			Series - 2017 C5 (Class ASB)
	111,339	i	LB-UBS Commercial Mortgage Trust			5.533		02/15/40		111
			Series - 2007 C1 (Class C)
	4,150,000	i	LB-UBS Commercial Mortgage Trust			5.563		02/15/40		4,147
			Series - 2007 C1 (Class D)
	230,310	i	LB-UBS Commercial Mortgage Trust			6.114		07/15/40		230
			Series - 2007 C6 (Class AM)
	2,218,650	g	LB-UBS Commercial Mortgage Trust			6.114		07/15/40		2,219
			Series - 2007 C6 (Class AMFL)
	15,000,000	g	LCCM			3.357		07/12/50		15,278
			Series - 2017 LC26 (Class ASB)
	10,728,656	g,i	LVII Resecuritization Trust	LIBOR 1 M + 2.800%		4.039		07/25/47		10,752
			Series - 2015 A (Class A)
	2,210,442	g,i	Merrill Lynch Mortgage Trust			6.665		02/12/51		2,221
			Series - 0 C1 (Class AJAF)
	2,205,000	i	Merrill Lynch Mortgage Trust			6.665		02/12/51		2,215
			Series - 0 C1 (Class AJA)
	5,880,000	g,i	Merrill Lynch Mortgage Trust			6.665		02/12/51		5,914
			Series - 2008 C1 (Class C)
	19,995,000	i	ML-CFC Commercial Mortgage Trust			5.526		03/12/51		20,307
			Series - 2007 6 (Class AM)

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	3,200,000		Morgan Stanley Bank of America Merrill Lynch Trust			2.469	%	02/15/46	$	3,215
			Series - 2013 C7 (Class AAB)
	4,500,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.194		10/15/47		4,593
			Series - 2014 C18 (Class A2)
	1,600,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.605		02/15/48		1,626
			Series - 2015 C20 (Class AS)
	12,400,000	g	Morgan Stanley Capital I Trust			2.695		01/11/32		12,461
			Series - 2013 WLSR (Class A)
	2,550,000	g	Morgan Stanley Capital I Trust			4.012		09/09/32		2,681
			Series - 2014 150E (Class AS)
	3,500,000	g	Morgan Stanley Capital I Trust			4.264		09/09/32		3,713
			Series - 2014 150E (Class B)
	5,150,446	i	Morgan Stanley Capital I Trust			5.389		11/12/41		5,154
			Series - 2006 HQ10 (Class AJ)
	3,450,000	g,i	Morgan Stanley Capital I Trust			5.588		09/15/47		3,671
			Series - 2011 C1 (Class D)
	8,618,371	i	Morgan Stanley Capital I Trust			5.907		06/11/49		8,646
			Series - 2007 IQ15 (Class AJ)
	12,121,000	g,i	Morgan Stanley Capital I Trust			6.104		06/11/49		11,753
			Series - 2007 IQ15 (Class B)
	4,193,715	i	Morgan Stanley Capital I Trust			6.080		12/12/49		4,221
			Series - 2007 IQ16 (Class AMA)
	7,330,000	i	Morgan Stanley Capital I Trust			6.115		12/12/49		6,881
			Series - 2007 IQ16 (Class AJ)
	12,000,000	i	Morgan Stanley Capital I Trust			6.363		12/12/49		11,264
			Series - 2007 IQ16 (Class AJFX)
	21,000,000		Morgan Stanley Capital I Trust			3.304		06/15/50		21,528
			Series - 2017 H1 (Class ASB)
	320,758		Morgan Stanley Capital I Trust			4.770		07/15/56		320
			Series - 0 IQ9 (Class AJ)
	12,500,000	g,i	MSDB Trust			3.427		07/11/39		12,618
			Series - 2017 712F (Class A)
	5,000,000	g	MSSG Trust			3.690		09/13/39		5,090
			Series - 2017 237P (Class B)
	15,000,000	g	Prima Capital CRE Securitization Ltd			4.000		08/24/49		14,967
			Series - 2015 4A (Class C)
	5,000,000	g	Queens Center Mortgage Trust			3.376		01/11/37		5,043
			Series - 2013 QCA (Class B)
	5,000,000	g	RBS Commercial Funding, Inc Trust			3.260		03/11/31		5,055
			Series - 2013 SMV (Class A)
	10,799,336	g,i	Sequoia Mortgage Trust			3.500		03/25/47		11,086
			Series - 2017 2 (Class A1)
	7,095,145	g,i	Sequoia Mortgage Trust			3.500		03/25/47		7,263
			Series - 2017 2 (Class A4)
	13,460,912	g,i	Sequoia Mortgage Trust			3.500		04/25/47		13,762
			Series - 2017 3 (Class A4)
	4,879,052	g,i	Sequoia Mortgage Trust			3.500		08/25/47		4,991
			Series - 2017 5 (Class A4)
	4,000,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.200%		3.437		09/25/24		4,131
			Series - 2014 HQ2 (Class M2)

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	702,339	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.400%		3.637	%	01/25/25	$	703
			Series - 2015 DN1 (Class M2)
	120,311	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.100%		2.337		05/25/25		120
			Series - 2015 HQ2 (Class M1)
	16,250,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.950%		3.187		05/25/25		16,537
			Series - 2015 HQ2 (Class M2)
	6,730,615	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.450%		2.687		07/25/28		6,750
			Series - 2016 DNA1 (Class M1)
	1,750,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.200%		3.437		10/25/28		1,779
			Series - 2016 DNA2 (Class M2)
	8,944,473	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.100%		2.337		12/25/28		8,966
			Series - 2016 DNA3 (Class M1)
	6,482,309	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 0.800%		2.037		03/25/29		6,487
			Series - 2016 DNA4 (Class M1)
	2,750,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.300%		2.537		03/25/29		2,784
			Series - 2016 DNA4 (Class M2)
	9,761,153	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.200%		2.437		07/25/29		9,870
			Series - 2017 DNA1 (Class M1)
	42,000,000	h,i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 0.750%		1.984		03/25/30		42,069
			Series - 2017 DNA3 (Class M1)
	13,250,000	g	VOLT LXII LLC (Step Bond)			3.125		09/25/47		13,254
			Series - 2017 NPL9 (Class A1)
	10,000,000	g	VSE VOI Mortgage LLC			2.330		03/20/35		9,945
			Series - 2017 A (Class A)
	1,744,931	i	Wachovia Bank Commercial Mortgage Trust			5.825		07/15/45		1,764
			Series - 2006 C27 (Class AJ)
	11,506,811	i	Wachovia Bank Commercial Mortgage Trust			5.818		05/15/46		11,504
			Series - 2007 C34 (Class AM)
	3,328,000	i	Wachovia Bank Commercial Mortgage Trust			6.214		05/15/46		3,325
			Series - 2007 C34 (Class B)
	7,338,000	i	Wachovia Bank Commercial Mortgage Trust			6.274		05/15/46		7,453
			Series - 2007 C34 (Class AJ)
	5,291,598	i	Wachovia Bank Commercial Mortgage Trust			5.660		04/15/47		5,372
			Series - 2007 C31 (Class AJ)
	2,000,000	i	Wachovia Bank Commercial Mortgage Trust			5.700		04/15/47		2,010
			Series - 2007 C31 (Class B)
	2,794,000	i	Wachovia Bank Commercial Mortgage Trust			5.750		06/15/49		2,793
			Series - 2007 C32 (Class B)
	30,377,200	i	Wachovia Bank Commercial Mortgage Trust			5.750		06/15/49		30,948
			Series - 2007 C32 (Class AJ)
	20,628,441	i	Wachovia Bank Commercial Mortgage Trust			5.953		02/15/51		20,611
			Series - 2007 C33 (Class AM)
	3,241,518		Wells Fargo Commercial Mortgage Trust			1.392		07/15/48		3,208
			Series - 2016 C35 (Class A1)

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	10,000,000		Wells Fargo Commercial Mortgage Trust		2.788	%	07/15/48	$	10,030
			Series - 2016 C35 (Class ASB)
	797,419		Wells Fargo Commercial Mortgage Trust		1.321		08/15/49		784
			Series - 2016 BNK1 (Class A1)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		14,828
			Series - 2016 BNK1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		15,021
			Series - 2016 LC24 (Class ASB)
	8,389,000		Wells Fargo Commercial Mortgage Trust		2.827		11/15/49		8,408
			Series - 2016 NXS6 (Class ASB)
	7,500,000		Wells Fargo Commercial Mortgage Trust		3.446		03/15/50		7,763
			Series - 2017 RB1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		3.261		07/15/50		15,364
			Series - 2017 C38 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		3.157		09/15/50		15,027
			Series - 2017 C39 (Class A4)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.212		09/15/50		10,210
			Series - 2017 C39 (Class ASB)
	7,250,000		Wells Fargo Commercial Mortgage Trust		3.185		03/15/59		7,428
			Series - 2016 C33 (Class ASB)
	6,000,000		Wells Fargo Commercial Mortgage Trust		3.749		03/15/59		6,177
			Series - 2016 C33 (Class AS)
	1,250,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		1,260
			Series - 2016 C36 (Class ASB)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		5,042
			Series - 2010 C1 (Class B)
	55,000,000	g,i	WFRBS Commercial Mortgage Trust		4.902		06/15/44		59,453
			Series - 2011 C4 (Class A4)
			TOTAL OTHER MORTGAGE BACKED						1,426,393
			TOTAL STRUCTURED ASSETS						2,496,420
			(Cost $2,499,985)
			TOTAL BONDS						13,543,455
			(Cost $13,409,423)
SHARES			COMPANY
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp						3,214
	1,527,061	*	Federal National Mortgage Association						10,644
			TOTAL BANKS						13,858
			TOTAL PREFERRED STOCKS						13,858
			(Cost $49,941)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 1.1%
GOVERNMENT AGENCY DEBT - 0.0%
$	2,644,000		Federal Home Loan Bank (FHLB)		0.700		10/02/17		2,644
			TOTAL GOVERNMENT AGENCY DEBT						2,644

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
TREASURY DEBT - 1.1%
NGN	550,000,000	j	Nigeria Treasury Bill		0.000	%	08/02/18	$	1,320
$	25,950,000		United States Treasury Bill		0.911-0.920		10/05/17		25,949
	45,075,000		United States Treasury Bill		0.961		10/12/17		45,063
	41,600,000		United States Treasury Bill		0.971		10/26/17		41,574
	16,030,000		United States Treasury Bill		0.971		11/02/17		16,017
	19,475,000		United States Treasury Bill		0.961		11/09/17		19,455
			TOTAL TREASURY DEBT						149,378
			TOTAL SHORT-TERM INVESTMENTS						152,022
			(Cost $151,978)
			TOTAL INVESTMENTS - 99.5%						13,748,511
			(Cost $13,650,847)
			OTHER ASSETS & LIABILITIES, NET - 0.5%						65,998
			NET ASSETS - 100.0%					$	13,814,509

Abbreviation(s):
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
DGS5	5-Year Treasury Constant Maturity Rate
EUR	Euro
GBP	British Pound
ICE	Intercontinental Exchange
IDR	Indonesian Rupiah
ILS	Israeli New Sheqel
INR	Indian Rupee
ISR	Intercontinental Exchange Swap Rate
JPY	Japanese Yen
KRW	South Korean Won
LIBOR	London Interbank Offered Rate
M	Month
MXN	Mexican Peso
NGN	Nigerian Naira
NOK	Norwegian Krone
NZD	New Zealand Dollar
PEN	Peruvian Nuevo Sol
PLN	Polish Zloty
REIT	Real Estate Investment Trust
RUB	Russian Ruble
SEK	Swedish Krona
THB	Thailand Baht
USD	United States Dollar
UYU	Uruguayan Peso
Y	Year
ZAR	South African Rand

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
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 9/30/17, the aggregate value of these securities was $2,192,660,000 or 15.9% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
o	Payment in Kind Bond
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.

Forward foreign currency contracts outstanding as of September 30, 2017 were as follows (dollar amounts are in thousands) (See Note 3):

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	Unrealized appreciation (depreciation)
$	5,975	AUD	7,423	Bank of America	10/31/2017	$154
$	7,502	CAD	9,197	Bank of America	10/31/2017	129
$	25,725	GBP	18,960	Bank of America	10/31/2017	292
$	9,497	KRW	10,712,598	Bank of America	10/31/2017	139
$	1,433	NOK	11,151	Bank of America	10/31/2017	32
$	1,052	ZAR	14,010	Bank of America	10/31/2017	22
					Total	$768
$	91,960	EUR	76,467	Morgan Stanley	10/31/2017	$1,434
$	39,626	JPY	4,406,922	Morgan Stanley	10/31/2017	403
$	1,740	PLN	6,201	Morgan Stanley	10/31/2017	41
$	2,215	SEK	17,550	Morgan Stanley	10/31/2017	57
$	809	THB	26,767	Morgan Stanley	10/31/2017	7
GBP	1,171	$	1,594	Morgan Stanley	10/31/2017	(23)
					Total	$1,919
Total						$2,687

Abbreviation(s):
AUD	Australian Dollar
CAD	Canadian Dollar
EUR	Euro
GBP	Pound Sterling
JPY	Japanese Yen
KRW	South Korean Won
NOK	Norwegian Krone
PLN	Polish Zloty
SEK	Swedish Krona
THB	Thailand Baht
ZAR	South African Rand

343

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2017

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
GOVERNMENT BONDS -  99.8%
AGENCY SECURITIES - 0.7%
$	17,190,000		Montefiore Medical Center		2.895	%	04/20/32	$	16,752
	3,500,000		Private Export Funding Corp (PEFCO)		2.300		09/15/20		3,550
	3,000,000		PEFCO		3.250		06/15/25		3,151
	5,592,105		Reliance Industries Ltd		2.444		01/15/26		5,616
	3,500,000		Ukraine Government AID Bonds		1.847		05/29/20		3,503
	15,000,000		Ukraine Government AID Bonds		1.471		09/29/21		14,692
			TOTAL AGENCY SECURITIES						47,264
MORTGAGE BACKED - 0.2%
	13,112,395		Government National Mortgage Association (GNMA)		3.650		02/15/32		13,784
			TOTAL MORTGAGE BACKED						13,784
U.S. TREASURY SECURITIES - 98.9%
	144,230,240	k	United States Treasury Inflation Indexed Bonds		2.125		01/15/19		148,722
	384,445,920	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/19		385,864
	141,015,810	k	United States Treasury Inflation Indexed Bonds		1.875		07/15/19		146,895
	157,687,600	k	United States Treasury Inflation Indexed Bonds		1.375		01/15/20		163,297
	466,730,915	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/20		468,916
	248,770,810	k	United States Treasury Inflation Indexed Bonds		1.250		07/15/20		259,176
	336,760,888	k	United States Treasury Inflation Indexed Bonds		1.125		01/15/21		350,048
	333,610,550	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/21		334,497
	359,285,188	k	United States Treasury Inflation Indexed Bonds		0.625		07/15/21		369,142
	352,563,669	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/22		353,540
	168,598,800	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/22		168,517
	369,374,560	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/22		371,015
	311,792,880	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/23		310,874
	174,086,140	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/23		176,281
	128,254,920	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		130,900
	105,671,350	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		104,553
	163,294,580	k	United States Treasury Inflation Indexed Bonds		0.250		01/15/25		161,572
	210,718,949	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/25		240,594
	90,838,000	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/25		90,791
	134,443,710	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/26		136,177
	229,187,264	d,k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		257,568
	130,718,720	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/26		127,034
	164,674,250	k	United States Treasury Inflation Indexed Bonds		0.375		01/15/27		162,584
	165,327,732	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/27		193,162
	53,537,985	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/27		52,982
	201,445,952	k	United States Treasury Inflation Indexed Bonds		1.750		01/15/28		225,360
	98,414,687	k	United States Treasury Inflation Indexed Bonds		3.625		04/15/28		128,716
	180,031,264	k	United States Treasury Inflation Indexed Bonds		2.500		01/15/29		217,154
	147,550,955	k	United States Treasury Inflation Indexed Bonds		3.875		04/15/29		200,551

344

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	15,000,000	United States Treasury Note		1.250	%	04/30/19	$	14,955
	28,640,000	United States Treasury Note		1.625		08/31/22		28,237
	2,500,000	United States Treasury Note		2.000		05/31/24		2,478
	55,000,000	United States Treasury Note		2.000		06/30/24		54,486
		TOTAL U.S. TREASURY SECURITIES						6,536,638
		TOTAL GOVERNMENT BONDS						6,597,686
		(Cost $6,367,362)
SHORT-TERM INVESTMENTS - 0.0%
GOVERNMENT AGENCY DEBT - 0.0%
	1,300,000	Federal Home Loan Bank (FHLB)		0.700		10/02/17		1,300
		TOTAL GOVERNMENT AGENCY DEBT						1,300
		TOTAL SHORT-TERM INVESTMENTS						1,300
		(Cost $1,300)
		TOTAL INVESTMENTS - 99.8%						6,598,986
		(Cost $6,368,662)
		OTHER ASSETS & LIABILITIES, NET - 0.2%						14,550
		NET ASSETS - 100.0%					$	6,613,536

d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	Cost amounts are in thousands.

Futures contracts outstanding as of September 30, 2017 were as follows (dollar amounts are in thousands) (See Note 3):

Description	Number of long (short) contracts	Expiration date	Notional amount	Value	Unrealized appreciation (depreciation)
US 10YR NOTE (CBT)	(100)	12/15/17	$(12,526)	$(12,531)	$     (5)

345

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2017

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.3%
CAPITAL GOODS - 0.0%
$	2,570,385	i	Manitowoc Foodservice, Inc	LIBOR 3 M + 2.750%		3.990	%	03/03/23	$	2,585
			TOTAL CAPITAL GOODS							2,585
MEDIA - 0.1%
	6,195,477	i	Charter Communications Operating LLC	LIBOR 3 M + 2.000%		3.240		01/14/22		6,210
	3,127,375	i	Charter Communications Operating LLC	LIBOR 3 M + 2.250%		3.490		01/15/24		3,139
			TOTAL MEDIA							9,349
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	9,925,000	i	MTS Systems Corp	LIBOR 3 M + 3.250%		4.490		07/05/23		9,987
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							9,987
UTILITIES - 0.1%
	14,718,577	i	Terra-Gen Finance Co LLC	LIBOR 3 M + 4.250%		5.490		12/09/21		13,320
			TOTAL UTILITIES							13,320
			TOTAL BANK LOAN OBLIGATIONS							35,241
			(Cost $36,351)
BONDS - 38.7%
CORPORATE BONDS - 12.1%
AUTOMOBILES & COMPONENTS - 0.2%
	1,955,000	g	Adient Global Holdings Ltd			4.875		08/15/26		1,999
	7,550,000		Delphi Automotive plc			3.150		11/19/20		7,723
	12,800,000		Ford Motor Co			4.750		01/15/43		12,543
	4,675,000		Magna International, Inc			3.625		06/15/24		4,825
			TOTAL AUTOMOBILES & COMPONENTS							27,090
BANKS - 2.7%
	20,272,000		Bank of America Corp			1.950		05/12/18		20,301
	10,900,000		Bank of America Corp			2.151		11/09/20		10,867
	5,000,000	i	Bank of Montreal	LIBOR 3 M + 0.250%		1.567		09/11/19		4,998
	21,500,000	e,g	Bank of Montreal			2.500		01/11/22		21,608
	5,000,000	i	Bank of Montreal	LIBOR 3 M + 0.630%		1.947		09/11/22		5,004
	18,500,000	e	Bank of Nova Scotia			2.125		09/11/19		18,555
	12,000,000	e,g	Bank of Nova Scotia			1.875		09/20/21		11,766
	15,000,000	i	Citizens Bank NA	LIBOR 3 M + 0.540%		1.856		03/02/20		15,007
	1,350,000		Citizens Financial Group, Inc			2.375		07/28/21		1,341
	7,025,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA			3.950		11/09/22		7,370
	2,710,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA			4.375		08/04/25		2,845
	7,275,000		Cooperatieve Rabobank UA			2.750		01/10/22		7,377

346

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	4,950,000		Cooperatieve Rabobank UA			3.750	%	07/21/26	$	5,020
	9,400,000		Discover Bank			3.450		07/27/26		9,236
	5,000,000	e,g	DNB Boligkreditt AS.			2.000		05/28/20		4,995
	10,000,000		First Niagara Financial Group, Inc			6.750		03/19/20		11,098
	20,000,000	g	ING Bank NV			2.000		11/26/18		20,010
	11,500,000	g	Intesa Sanpaolo S.p.A			5.017		06/26/24		11,687
	10,000,000	g	Intesa Sanpaolo S.p.A			5.710		01/15/26		10,535
	6,300,000		KeyBank NA			2.350		03/08/19		6,351
	4,644,000	i	Manufacturers & Traders Trust Co	LIBOR 1 M + 1.215%		2.449		12/28/20		4,653
	9,076,000	i	Manufacturers & Traders Trust Co	LIBOR 3 M + 0.640%		1.956		12/01/21		8,982
	1,605,000		Manufacturers & Traders Trust Co			2.900		02/06/25		1,591
	3,425,000		Manufacturers & Traders Trust Co			3.400		08/17/27		3,431
	18,775,000		Mitsubishi UFJ Financial Group, Inc			2.527		09/13/23		18,471
	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		8,341
	10,000,000		Regions Financial Corp			2.750		08/14/22		9,980
	8,450,000		Royal Bank of Canada			1.875		02/05/20		8,429
	12,000,000		Royal Bank of Canada			2.100		10/14/20		11,999
	14,500,000	g	Skandinaviska Enskilda Banken AB			1.375		05/29/18		14,471
	12,500,000		SVB Financial Group			3.500		01/29/25		12,517
	25,450,000		Toronto-Dominion Bank			1.850		09/11/20		25,340
	5,000,000	e	Toronto-Dominion Bank			1.800		07/13/21		4,922
	12,000,000	e,g	Toronto-Dominion Bank			2.500		01/18/22		12,071
	12,019,000	g	Westpac Banking Corp			2.100		02/25/21		12,003
			TOTAL BANKS							381,965
CAPITAL GOODS - 0.5%
	2,500,000		3M Co			6.375		02/15/28		3,200
	6,525,000		Air Lease Corp			4.250		09/15/24		6,878
	1,975,000		Anixter, Inc			5.125		10/01/21		2,123
	4,575,000		Anixter, Inc			5.500		03/01/23		4,975
	6,250,000		CNH Industrial Capital LLC			3.875		10/15/21		6,423
	4,600,000		Ingersoll-Rand Global Holding Co Ltd			4.250		06/15/23		4,954
	3,250,000		Johnson Controls International plc			5.000		03/30/20		3,460
	5,625,000		Parker-Hannifin Corp			4.200		11/21/34		5,930
	6,980,000		Pentair Finance S.A.			2.650		12/01/19		6,997
	3,300,000		Rockwell Collins, Inc			3.100		11/15/21		3,369
	6,125,000		Rockwell Collins, Inc			3.700		12/15/23		6,418
	12,625,000		WW Grainger, Inc			4.200		05/15/47		12,776
			TOTAL CAPITAL GOODS							67,503
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	2,730,000		Waste Management, Inc			4.600		03/01/21		2,929
	3,475,000		Waste Management, Inc			3.900		03/01/35		3,593
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							6,522
CONSUMER SERVICES - 0.5%
	4,000,000		American National Red Cross			5.567		11/15/17		4,016
	10,000,000		Henry J Kaiser Family Foundation			3.356		12/01/25		9,807
	1,250,000		McDonald’s Corp			5.000		02/01/19		1,301
	19,000,000		Metropolitan Museum of Art			3.400		07/01/45		18,181
	7,550,000		Nature Conservancy			6.300		07/01/19		7,995

347

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	17,500,000		New York Public Library Astor Lenox & Tilden Foundations			4.305	%	07/01/45	$	18,424
	5,145,000		Salvation Army			5.637		09/01/26		5,618
	9,800,000		Starbucks Corp			2.450		06/15/26		9,418
			TOTAL CONSUMER SERVICES							74,760
DIVERSIFIED FINANCIALS - 1.0%
	2,675,000		Bank of New York Mellon Corp			5.450		05/15/19		2,826
	6,350,000		Bank of New York Mellon Corp			2.661		05/16/23		6,374
	2,169,000	e	Discover Financial Services			3.850		11/21/22		2,227
	9,000,000	g	EDP Finance BV			4.125		01/15/20		9,335
	9,500,000	e,g	EDP Finance BV			5.250		01/14/21		10,258
	11,625,000	g	EDP Finance BV			3.625		07/15/24		11,720
	9,500,000		Ford Foundation			3.859		06/01/47		9,956
	5,700,000		Ford Motor Credit Co LLC			4.389		01/08/26		5,927
	2,300,000		Legg Mason, Inc			3.950		07/15/24		2,356
	37,250,000		Morgan Stanley			2.200		12/07/18		37,399
	3,314,000		Northern Trust Corp			3.375		08/23/21		3,440
	1,535,000		Reinvestment Fund, Inc			3.166		11/01/23		1,533
	10,250,000		Reinvestment Fund, Inc			3.366		11/01/24		10,233
	2,570,000		Reinvestment Fund, Inc			3.513		11/01/25		2,570
	15,000,000		State Street Corp			2.653		05/15/23		15,079
	4,525,000		Unilever Capital Corp			2.000		07/28/26		4,178
			TOTAL DIVERSIFIED FINANCIALS							135,411
ENERGY - 1.0%
	4,175,000		Apache Corp			3.250		04/15/22		4,234
	14,500,000	g	Cenovus Energy, Inc			5.250		06/15/37		14,383
	3,175,000		Cimarex Energy Co			3.900		05/15/27		3,240
	8,450,000		EOG Resources, Inc			3.900		04/01/35		8,422
	4,450,000		EOG Resources, Inc			5.100		01/15/36		4,949
	15,250,000	i	EQT Corp	LIBOR 3 M + 0.770%		2.103		10/01/20		15,281
	15,000,000		Kinder Morgan, Inc			3.150		01/15/23		15,070
	1,000,000		Marathon Oil Corp			2.700		06/01/20		1,000
	3,025,000		National Oilwell Varco, Inc			1.350		12/01/17		3,022
	17,292,000		National Oilwell Varco, Inc			3.950		12/01/42		14,581
	3,290,000		Noble Energy, Inc			5.050		11/15/44		3,394
	2,775,000	g,i	Phillips 66	LIBOR 3 M + 0.750%		2.054		04/15/20		2,779
	9,000,000		Phillips 66			4.650		11/15/34		9,523
	9,500,000		Statoil ASA			3.150		01/23/22		9,793
	4,500,000		Statoil ASA			2.650		01/15/24		4,454
	5,932,000		Statoil ASA			3.950		05/15/43		5,945
	5,000,000	g	Texas Eastern Transmission LP			4.125		12/01/20		5,242
	10,050,000	g	Woodside Finance Ltd			3.700		03/15/28		9,973
			TOTAL ENERGY							135,285
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	7,500,000	i	Becton Dickinson and Co	LIBOR 3 M + 1.030%		2.346		06/06/22		7,541
	7,250,000		Becton Dickinson and Co			3.363		06/06/24		7,315
	4,500,000		Becton Dickinson and Co			4.669		06/06/47		4,718
	3,250,000		Laboratory Corp of America Holdings			2.625		02/01/20		3,284
	9,000,000		Laboratory Corp of America Holdings			3.200		02/01/22		9,209
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							32,067

348

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
INSURANCE - 0.4%
$	3,000,000	g,i	Cranberry RE Ltd	LIBOR 6 M + 1.600%		3.049	%	07/13/20	$	3,013
	15,000,000		Prudential Financial, Inc			5.200		03/15/44		15,947
	7,450,000		Prudential Financial, Inc			5.375		05/15/45		8,046
	18,222,000	g	Swiss Re Treasury US Corp			2.875		12/06/22		18,378
	8,687,000	g	Swiss Re Treasury US Corp			4.250		12/06/42		8,879
			TOTAL INSURANCE							54,263
MATERIALS - 0.7%
	2,275,000		Ball Corp			5.000		03/15/22		2,463
	8,930,000		Ball Corp			4.000		11/15/23		9,131
	5,750,000		Domtar Corp			4.400		04/01/22		5,985
	2,300,000		Eastman Chemical Co			5.500		11/15/19		2,457
	20,000,000	e	Fibria Overseas Finance Ltd			5.500		01/17/27		21,192
	7,500,000		International Paper Co			5.000		09/15/35		8,315
	5,000,000		International Paper Co			6.000		11/15/41		6,127
	4,600,000		International Paper Co			4.800		06/15/44		4,944
	17,000,000	g	Inversiones CMPC S.A.			4.375		04/04/27		17,310
	10,075,000	g	Klabin Finance S.A.			4.875		09/19/27		9,999
	5,000,000		MeadWestvaco Corp			7.375		09/01/19		5,473
	2,500,000	g	Sealed Air Corp			5.500		09/15/25		2,750
	6,350,000	g	WestRock Co			3.000		09/15/24		6,339
			TOTAL MATERIALS							102,485
MEDIA - 0.2%
	3,125,000		Charter Communications Operating LLC			3.579		07/23/20		3,207
	14,850,000		Charter Communications Operating LLC			4.464		07/23/22		15,683
	3,625,000		Discovery Communications LLC			5.000		09/20/37		3,684
	5,500,000		Time Warner Cable, Inc			4.500		09/15/42		5,210
	4,175,000		Walt Disney Co			2.450		03/04/22		4,223
			TOTAL MEDIA							32,007
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.1%
	5,000,000		Bristol-Myers Squibb Co			3.250		08/01/42		4,580
	7,500,000	e,i	Gilead Sciences, Inc	LIBOR 3 M + 0.250%		1.576		09/20/19		7,516
	3,300,000	e	Zoetis, Inc			3.450		11/13/20		3,411
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							15,507
REAL ESTATE - 0.4%
	4,500,000		Brixmor Operating Partnership LP			3.650		06/15/24		4,476
	6,525,000	e	Brixmor Operating Partnership LP			3.850		02/01/25		6,527
	3,500,000		Federal Realty Investment Trust			2.750		06/01/23		3,484
	3,400,000		Healthcare Realty Trust, Inc			5.750		01/15/21		3,729
	7,000,000		Kimco Realty Corp			6.875		10/01/19		7,623
	16,825,000		Mid-America Apartments LP			4.000		11/15/25		17,478
	16,822,000		Regency Centers LP			3.750		06/15/24		17,177
			TOTAL REAL ESTATE							60,494
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	18,110,000		Apple, Inc			2.850		02/23/23		18,541
	14,250,000		Apple, Inc			3.000		06/20/27		14,260
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							32,801

349

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
TELECOMMUNICATION SERVICES - 0.3%
$	3,400,000	e	CenturyLink, Inc			6.750	%	12/01/23	$	3,439
	5,000,000	i	Verizon Communications, Inc	LIBOR 3 M + 1.000%		2.321		03/16/22		5,072
	11,750,000		Verizon Communications, Inc			2.625		08/15/26		11,004
	9,500,000		Verizon Communications, Inc			4.500		08/10/33		9,741
	7,350,000		Verizon Communications, Inc			5.250		03/16/37		8,057
			TOTAL TELECOMMUNICATION SERVICES							37,313
TRANSPORTATION - 0.8%
	6,775,000		CSX Corp			4.250		11/01/66		6,470
	2,169,381		Delta Air Lines			4.250		07/30/23		2,260
	5,418,096		Delta Air Lines			3.625		07/30/27		5,643
	7,150,000	e	Delta Air Lines, Inc			3.625		03/15/22		7,347
	3,800,000	e,g	Hertz Corp			7.625		06/01/22		3,919
	4,000,000		Kansas City Southern			3.000		05/15/23		4,009
	7,000,000		Kansas City Southern			4.300		05/15/43		7,047
	15,925,000		Kansas City Southern			4.950		08/15/45		17,716
	5,275,000	g	Mexico City Airport Trust			4.250		10/31/26		5,420
	9,525,000	g	Mexico City Airport Trust			5.500		10/31/46		9,723
	11,050,000	e,g	Mexico City Airport Trust			5.500		07/31/47		11,187
	475,000		Norfolk Southern Corp			5.590		05/17/25		545
	8,274,914		Spirit Airlines, Inc			4.100		04/01/28		8,689
	4,050,000		Union Pacific Corp			3.375		02/01/35		4,017
	5,004,157		Union Pacific Railroad Co			3.227		05/14/26		5,126
	13,038,604		Union Pacific Railroad Co			2.695		05/12/27		12,722
	1,360,000		United Parcel Service of America, Inc (Step Bond)			8.375		04/01/30		1,964
	2,250,000	e,i	United Parcel Service, Inc	LIBOR 3 M + 0.380%		1.694		05/16/22		2,256
			TOTAL TRANSPORTATION							116,060
UTILITIES - 2.8%
	2,075,000	g	APT Pipelines Ltd			4.250		07/15/27		2,134
	2,000,000		Atmos Energy Corp			8.500		03/15/19		2,188
	7,550,000	g	Colorado Interstate Gas Co LLC			4.150		08/15/26		7,504
	1,200,000		Connecticut Light & Power Co			5.500		02/01/19		1,256
	2,000,000		Connecticut Light & Power Co			5.750		03/01/37		2,391
	8,013,189	g	Continental Wind LLC			6.000		02/28/33		8,464
	22,500,000	g	Electricite de France S.A.			3.625		10/13/25		23,118
	6,150,000		Fortis, Inc			2.100		10/04/21		6,037
	10,750,000		Fortis, Inc			3.055		10/04/26		10,347
	13,750,000		Georgia Power Co			3.250		04/01/26		13,805
	11,750,000	g	Greenko Dutch BV			4.875		07/24/22		12,107
	2,745,000		International Transmission Co			4.625		08/15/43		3,014
	6,575,000		Interstate Power & Light Co			3.250		12/01/24		6,607
	4,500,000		MidAmerican Energy Co			3.100		05/01/27		4,512
	9,250,000	g	Narragansett Electric Co			4.170		12/10/42		9,456
	2,050,000	e,g	NextEra Energy Operating Partners LP			4.250		09/15/24		2,094
	3,875,000	g	NextEra Energy Operating Partners LP			4.500		09/15/27		3,948
	9,732,000	g	Niagara Mohawk Power Corp			4.278		10/01/34		10,412
	9,750,000	g	Niagara Mohawk Power Corp			4.119		11/28/42		9,998
	1,500,000		Northwest Natural Gas Co			5.620		11/21/23		1,739
	11,000,000		NorthWestern Corp			4.176		11/15/44		11,525

350

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	3,875,000		ONEOK, Inc			4.000	%	07/13/27	$	3,921
	6,200,000		ONEOK, Inc			4.950		07/13/47		6,213
	18,900,000	g	Pattern Energy Group, Inc			5.875		02/01/24		19,939
	630,000		Public Service Co of Colorado			4.750		08/15/41		708
	5,500,000		San Diego Gas & Electric Co			3.000		08/15/21		5,675
	8,598,253		San Diego Gas & Electric Co			1.914		02/01/22		8,544
	8,875,000		Sierra Pacific Power Co			3.375		08/15/23		9,219
	26,052,044	g	Solar Star Funding LLC			3.950		06/30/35		25,056
	24,488,244	g	Solar Star Funding LLC			5.375		06/30/35		26,368
	2,000,000		Southern California Edison Co			2.400		02/01/22		2,006
	9,675,000		Southern Power Co			1.850		12/01/17		9,679
	6,600,000		Southern Power Co			1.950		12/15/19		6,586
	8,300,000		Southern Power Co			2.500		12/15/21		8,262
	25,000,000		Southern Power Co			4.150		12/01/25		26,292
	16,000,000	g	TerraForm Power Operating LLC (Step Bond)			6.375		02/01/23		16,640
	19,248,586	g	Topaz Solar Farms LLC			4.875		09/30/39		19,894
	13,306,636	g	Topaz Solar Farms LLC			5.750		09/30/39		14,701
	5,000,000		Washington Gas Light Co			5.440		08/11/25		5,843
	19,650,000		Westar Energy, Inc			2.550		07/01/26		18,966
	16,525,000		WGL Holdings, Inc			2.250		11/01/19		16,437
			TOTAL UTILITIES							403,605
			TOTAL CORPORATE BONDS							1,715,138
			(Cost $1,683,587)
GOVERNMENT BONDS -  23.7%
AGENCY SECURITIES - 4.1%
	7,078,168		Ethiopian Leasing LLC			2.566		08/14/26		7,133
	3,344,331		Export Lease Ten Co LLC			1.650		05/07/25		3,261
	5,500,000		Federal Home Loan Bank (FHLB)			5.000		11/17/17		5,526
	7,000,000		Federal National Mortgage Association (FNMA)			1.625		01/21/20		7,008
	15,500,000		FNMA			2.625		09/06/24		15,849
	2,290,826	g	Genesis Solar Pass Through Trust			3.875		02/15/38		2,473
	1,096,000	j	Government Trust Certificate			0.000		04/01/19		1,066
	5,000,000	j	Government Trust Certificate			0.000		04/01/21		4,641
	5,950,000		Hashemite Kingdom of Jordan Government AID Bond			3.000		06/30/25		6,244
	6,030,000	g	Hospital for Special Surgery			3.500		01/01/23		6,171
	7,125,000	i	India Government AID Bond	LIBOR 3 M + 0.100%		1.411		02/01/27		6,852
	45,500,000		Iraq Government AID Bond			2.149		01/18/22		45,640
	4,620,000		Lutheran Medical Center			1.982		02/20/30		4,411
	7,125,000		Mexican Aircraft Finance V LLC			2.329		01/14/27		7,116
	5,885,000		Montefiore Medical Center			2.152		10/20/26		5,677
	3,475,000	g	Montefiore Medical Center			3.896		05/20/27		3,622
	21,255,000		Montefiore Medical Center			2.895		04/20/32		20,714
	20,900,000		NCUA Guaranteed Notes			3.000		06/12/19		21,427
	7,000,000		NCUA Guaranteed Notes			3.450		06/12/21		7,276
	16,980,000		New York Society for the Relief of the Ruptured & Crippled			2.881		12/20/31		16,508
	775,000	j	Overseas Private Investment Corp (OPIC)			0.000		11/11/17		788
	6,650,000	j	OPIC			0.000		11/13/17		6,700
	10,750,000	j	OPIC			0.000		11/17/17		11,309
	16,000,000	j	OPIC			0.000		02/11/18		16,160
	2,450,000	j	OPIC			0.000		04/30/18		2,463
	5,700,000	j	OPIC			0.000		11/15/19		6,135

351

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	15,750,000	j	OPIC		0.000	%	07/17/21	$	15,656
	3,890,853		OPIC		2.290		09/15/26		3,907
	2080260		OPIC		0.020		12/15/26		2066
	9,677,995		OPIC		2.740		09/15/29		9,550
	11,911,378		OPIC		3.220		09/15/29		11,986
	13,400,301		OPIC		3.280		09/15/29		13,698
	2,421,331		OPIC		2.610		04/15/30		2,334
	3,961,500		OPIC		2.930		05/15/30		3,955
	6,546,900		OPIC		3.040		05/15/30		6,656
	7,500,056		OPIC		3.540		06/15/30		7,867
	19,380,595		OPIC		3.370		12/15/30		20,114
	21,165,915		OPIC		3.820		12/20/32		22,262
	13,655,429		OPIC		3.938		12/20/32		14,490
	11,820,610		OPIC		3.160		06/01/33		11,816
	11,347,786		OPIC		3.430		06/01/33		11,601
	1,199,360		OPIC		2.810		07/31/33		1,167
	1,918,976		OPIC		2.940		07/31/33		1,887
	5,000,000		Private Export Funding Corp (PEFCO)		4.375		03/15/19		5,199
	5,854,000	e	PEFCO		1.450		08/15/19		5,836
	13,150,000		PEFCO		2.250		03/15/20		13,317
	8,000,000		PEFCO		2.300		09/15/20		8,115
	17,500,000		PEFCO		4.300		12/15/21		19,130
	4,250,000		PEFCO		2.050		11/15/22		4,247
	4,000,000		PEFCO		3.550		01/15/24		4,285
	8,000,000		PEFCO		3.250		06/15/25		8,403
	2,100,235		Tayarra Ltd		3.628		02/15/22		2,173
	2,007,489		Tricahue Leasing LLC		3.503		11/19/21		2,071
	15,300,000		Ukraine Government AID Bonds		1.847		05/29/20		15,311
	19,500,000		Ukraine Government AID Bonds		1.471		09/29/21		19,099
	7,355,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		7,652
	10,750,000		US Department of Housing and Urban Development (HUD)		1.770		08/01/18		10,787
	4,213,000		HUD		5.380		08/01/18		4,271
	750,000		HUD		2.050		08/01/19		753
	9,500,000		HUD		4.870		08/01/19		10,019
	13,967,000		HUD		4.960		08/01/20		14,782
	13,500,000		HUD		5.050		08/01/21		14,213
	3,217,000		HUD		2.910		08/01/23		3,279
	833,333		VRG Linhas Aereas S.A.		0.983		03/13/18		831
			TOTAL AGENCY SECURITIES						576,955
FOREIGN GOVERNMENT BONDS - 5.2%
	26,350,000		African Development Bank		1.375		12/17/18		26,286
	13,550,000	e	African Development Bank		2.375		09/23/21		13,759
	17,500,000		Asian Development Bank		2.125		03/19/25		17,212
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		6,018
	9,000,000		Canada Government International Bond		1.125		03/19/18		8,991
	6,071,356	g	Carpintero Finance Ltd		2.004		09/18/24		6,007
	6,500,000		Council Of Europe Development Bank		1.000		02/04/19		6,447
	25,000,000		European Bank for Reconstruction & Development		1.625		04/10/18		25,012
	19,500,000		European Bank for Reconstruction & Development		0.875		07/22/19		19,172
	2,000,000		European Investment Bank		2.000		03/15/21		2,007

352

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	20,750,000		European Investment Bank			2.125	%	04/13/26	$	20,260
	18,100,000		European Investment Bank			2.375		05/24/27		17,932
	2,000,000		European Investment Bank			4.875		02/15/36		2,581
	15,775,000		Export Development Canada			1.250		12/10/18		15,690
	9,000,000		Export Development Canada			1.625		12/03/19		8,989
	12,000,000		Export Development Canada			1.375		10/21/21		11,708
	18,175,000		Export-Import Bank of Korea			1.750		02/27/18		18,155
	15,000,000	g	Finnvera Oyj			2.375		06/04/25		14,628
	6,082,000		Hydro Quebec			8.400		01/15/22		7,429
	45,000,000		Inter-American Development Bank			1.185		07/09/18		44,688
	19,075,000		International Finance Corp			1.250		11/27/18		19,011
	19,250,000		International Finance Corp			1.750		03/30/20		19,267
	46,500,000		International Finance Corp			1.546		11/04/21		45,009
	40,500,000		International Finance Corp			2.125		04/07/26		39,604
	5,000,000		Japan Bank for International Cooperation			1.875		04/20/21		4,941
	9,000,000	g	Japan Finance Organization for Municipalities			2.125		04/13/21		8,901
	5,000,000		KFW			1.000		01/26/18		4,994
	23,000,000		KFW			1.750		10/15/19		23,039
	11,500,000		KFW			1.500		04/20/20		11,432
	38,200,000		KFW			1.875		11/30/20		38,233
	10,000,000		KFW			2.625		01/25/22		10,245
	8,850,000	g	Kommunalbanken AS.			1.375		10/26/20		8,725
	12,500,000	g	Kommunalbanken AS.			2.125		02/11/25		12,236
	19,400,000	g	Kommuninvest I Sverige AB			1.500		04/23/19		19,354
	18,500,000	i	Korea Development Bank	LIBOR 3 M + 0.725%		2.027		07/06/22		18,513
	16,750,000		Kreditanstalt fuer Wiederaufbau			2.000		11/30/21		16,763
	3,000,000	g	Nacional Financiera SNC			3.375		11/05/20		3,109
	25,000,000	g	Nederlandse Waterschapsbank NV			2.375		03/24/26		24,583
	10,000,000		North American Development Bank			2.300		10/10/18		10,060
	2,000,000		North American Development Bank			4.375		02/11/20		2,109
	15,250,000	e	Province of Manitoba Canada			1.750		05/30/19		15,250
	15,000,000		Province of Manitoba Canada			2.100		09/06/22		14,845
	12,700,000	e	Province of Manitoba Canada			3.050		05/14/24		13,091
	10,000,000		Province of New Brunswick Canada			2.750		06/15/18		10,082
	9,500,000		Province of Ontario Canada			1.200		02/14/18		9,489
	5,000,000		Province of Ontario Canada			4.400		04/14/20		5,304
	10,000,000		Province of Quebec Canada			3.500		07/29/20		10,425
	10,000,000		Province of Quebec Canada			2.750		04/12/27		9,983
	5,000,000		Province of Quebec Canada			7.500		09/15/29		7,125
			TOTAL FOREIGN GOVERNMENT BONDS							728,693
MORTGAGE BACKED - 7.7%
	9,460,805		Federal Home Loan Mortgage Corp (FHLMC)			3.500		08/15/42		9,773
	13,378,215		FHLMC			3.500		08/15/43		13,947
	4,085		Federal Home Loan Mortgage Corp Gold (FGLMC)			6.000		12/01/17		4
	31,909		FGLMC			7.000		10/01/20		33
	4,041		FGLMC			7.000		05/01/23		4
	5,820,242		FGLMC			3.500		03/01/27		6,083
	16,629		FGLMC			8.000		01/01/31		19
	329,822		FGLMC			4.500		07/01/33		356
	543,890		FGLMC			5.500		09/01/33		601
	486,066		FGLMC			5.500		09/01/33		540
	829,463		FGLMC			5.500		12/01/33		928
	2,248,675		FGLMC			7.000		12/01/33		2,602

353

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	705,668		FGLMC		7.000	%	05/01/35	$	807
	90,137		FGLMC		5.000		02/01/36		99
	1,824		FGLMC		6.500		05/01/36		2
	496,387		FGLMC		5.000		07/01/39		545
	2,494,205	w	FGLMC		4.500		11/01/40		2,727
	2,795,184	w	FGLMC		4.500		12/01/40		3,055
	741,500		FGLMC		4.500		10/01/44		810
	950,979		FGLMC		4.500		11/01/44		1,039
	1,162,991		FGLMC		4.500		11/01/44		1,270
	738,542		FGLMC		4.500		12/01/44		806
	395,827		FGLMC		4.500		12/01/44		427
	3,151,269		FGLMC		3.500		04/01/45		3,274
	26,934,661		FGLMC		3.500		10/01/45		27,967
	18,818,059		FGLMC		4.000		12/01/45		20,036
	2,630,190		FGLMC		4.000		05/01/46		2,790
	51,921,312		FGLMC		3.500		08/01/46		53,895
	1,492		Federal National Mortgage Association (FNMA)		8.000		03/01/23		1
	20,241		FNMA		8.000		07/01/24		23
	18,500,000	i	FNMA		2.877		02/25/27		18,432
	248,728		FNMA		2.500		06/01/30		251
	883,810		FNMA		2.500		06/01/31		890
	8,239,420		FNMA		2.500		07/01/31		8,300
	336,049		FNMA		2.500		07/01/31		339
	1,976,288		FNMA		2.500		08/01/31		1,991
	385,701		FNMA		2.500		09/01/31		389
	586,499		FNMA		2.500		09/01/31		591
	478,999		FNMA		2.500		09/01/31		483
	288,407		FNMA		2.500		10/01/31		291
	970,659		FNMA		2.500		10/01/31		978
	158,558		FNMA		2.500		11/01/31		160
	385,144		FNMA		2.500		11/01/31		388
	803,020		FNMA		2.500		11/01/31		809
	343,751		FNMA		2.500		11/01/31		346
	264,670		FNMA		2.500		11/01/31		267
	479,245		FNMA		2.500		11/01/31		483
	703,461		FNMA		2.500		11/01/31		709
	274,197		FNMA		2.500		12/01/31		276
	988,675		FNMA		2.500		12/01/31		996
	437,263		FNMA		2.500		12/01/31		440
	364,219		FNMA		2.500		12/01/31		367
	1,251,804		FNMA		2.500		12/01/31		1,261
	9,232,365		FNMA		3.500		02/01/32		9,629
	3,896,107		FNMA		3.500		05/01/32		4,070
	232,374		FNMA		2.500		06/01/32		234
	786,188		FNMA		2.500		06/01/32		792
	1,620,669		FNMA		2.500		07/01/32		1,633
	741,238		FNMA		2.500		07/01/32		747
	380,651		FNMA		2.500		07/01/32		383
	7,775,867		FNMA		3.000		07/01/32		7,993
	9,865,106		FNMA		3.500		07/01/32		10,291
	292,510		FNMA		6.500		07/01/32		332
	16,021,899		FNMA		3.000		08/01/32		16,469
	2,370,931		FNMA		5.000		06/01/33		2,612

354

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,054,473		FNMA		5.000	%	10/01/33	$	5,569
	286,023		FNMA		5.000		11/01/33		315
	788,620		FNMA		5.000		03/01/34		869
	1,369,554		FNMA		5.500		03/01/34		1,535
	4,148,060		FNMA		5.000		05/01/35		4,571
	2,656,012		FNMA		5.000		10/01/35		2,927
	2,032,298		FNMA		5.000		02/01/36		2,239
	1,037,757		FNMA		5.500		08/01/37		1,166
	617,396		FNMA		6.000		09/01/37		713
	509,348		FNMA		6.000		09/01/37		584
	137,984		FNMA		6.500		09/01/37		153
	622,773		FNMA		5.500		01/01/38		698
	17,637		FNMA		6.500		02/01/38		20
	2,032,056		FNMA		5.500		04/01/38		2,262
	2,889,763		FNMA		5.500		11/01/38		3,337
	3,815,302		FNMA		5.500		12/01/38		4,300
	33,344		FNMA		4.500		04/01/39		36
	730,357		FNMA		4.500		05/01/39		795
	347,068		FNMA		4.000		07/01/39		368
	1,171,496		FNMA		5.500		08/01/39		1,314
	49,803		FNMA		4.500		02/01/40		54
	424,235		FNMA		5.000		08/01/40		463
	2,038,347		FNMA		5.000		09/01/40		2,226
	141,714		FNMA		4.500		11/01/40		155
	5,686,227		FNMA		4.500		01/01/41		6,209
	233,726		FNMA		4.500		01/01/41		255
	5,201,714		FNMA		4.500		01/01/41		5,660
	201,111		FNMA		4.500		02/01/41		220
	3,431,748		FNMA		5.000		05/01/41		3,747
	204,553		FNMA		4.500		06/01/41		223
	251,721		FNMA		4.500		06/01/41		275
	662,522		FNMA		5.000		06/01/41		725
	1,892,553		FNMA		5.000		07/01/41		2,070
	1,507,457		FNMA		4.500		09/01/41		1,641
	387,909		FNMA		4.500		12/01/41		424
	10,899,944		FNMA		5.500		12/01/41		12,455
	255,195		FNMA		4.500		01/01/42		279
	667,826		FNMA		4.500		01/01/42		729
	223,048		FNMA		4.500		04/01/42		244
	1,889,621		FNMA		4.500		04/01/42		2,044
	2,689,309		FNMA		4.500		06/01/42		2,905
	289,209		FNMA		4.500		06/01/42		316
	209,224		FNMA		4.500		07/01/42		228
	5,256,909		FNMA		4.500		08/01/42		5,720
	9,394,190		FNMA		3.000		10/01/42		9,472
	168,087		FNMA		3.000		10/01/42		169
	6,882,971	w	FNMA		3.000		01/01/43		6,940
	2,066,318		FNMA		4.500		01/01/43		2,222
	8,738,667	w	FNMA		3.000		02/01/43		8,811
	5,045,217		FNMA		3.000		02/25/43		5,151
	9,673		FNMA		3.000		04/01/43		10
	4,989,801		FNMA		3.000		08/25/43		5,096
	5,184,882		FNMA		4.500		10/01/43		5,643
	4,516,650		FNMA		4.000		04/01/44		4,794

355

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,973,992		FNMA		4.000	%	06/01/44	$	2,095
	2,879,051		FNMA		4.000		06/01/44		3,056
	10,695,121		FNMA		4.500		06/01/44		11,659
	1,130,717		FNMA		4.500		06/01/44		1,233
	850,521		FNMA		4.000		07/01/44		903
	2,248,117		FNMA		4.000		07/01/44		2,387
	1,026,637		FNMA		4.000		08/01/44		1,090
	7,048,986		FNMA		4.000		08/01/44		7,483
	3,630,088		FNMA		4.000		08/01/44		3,853
	2,213,611		FNMA		4.000		08/01/44		2,348
	2,591,821		FNMA		4.500		08/01/44		2,825
	679,628		FNMA		4.000		09/01/44		722
	710,831		FNMA		4.000		09/01/44		755
	3,643,331		FNMA		4.000		10/01/44		3,868
	5,875,813		FNMA		4.500		10/01/44		6,402
	11,519,381		FNMA		4.500		11/01/44		12,557
	4,750,582		FNMA		4.000		12/01/44		5,043
	2,525,843		FNMA		4.500		12/01/44		2,753
	3,647,479		FNMA		4.000		01/01/45		3,872
	12,976,334		FNMA		3.000		02/25/45		13,181
	289,688		FNMA		3.500		03/01/45		300
	408,427		FNMA		3.500		03/01/45		423
	703,634		FNMA		4.500		03/01/45		771
	3,945,588		FNMA		3.000		03/25/45		4,021
	712,378		FNMA		4.500		04/01/45		781
	5,834,800		FNMA		3.500		05/01/45		6,059
	836,393		FNMA		4.000		05/01/45		892
	1,831,687		FNMA		4.000		06/01/45		1,953
	7,963,679		FNMA		4.000		07/01/45		8,503
	786,203		FNMA		4.000		08/01/45		838
	18,212,381		FNMA		4.000		09/01/45		19,418
	3,522,775		FNMA		4.000		11/01/45		3,757
	910,733		FNMA		4.000		12/01/45		971
	9,047,112		FNMA		3.500		01/01/46		9,379
	11,325,962		FNMA		4.000		01/01/46		12,058
	8,161,441		FNMA		3.500		02/01/46		8,456
	11,263,897		FNMA		3.500		06/01/46		11,679
	3,045,419		FNMA		3.500		08/01/46		3,141
	28,351,405		FNMA		3.000		11/01/46		28,449
	31,680,340		FNMA		3.000		12/01/46		31,789
	20,568,866		FNMA		3.500		12/01/46		21,212
	19,821,428		FNMA		3.500		12/01/46		20,441
	2,046,095		FNMA		4.000		12/01/46		2,188
	31,798,309		FNMA		3.000		01/01/47		31,908
	54,776,052		FNMA		3.500		01/01/47		56,488
	1,914,275		FNMA		3.500		02/01/47		1,974
	983,187		FNMA		3.000		04/01/47		987
	43,498,951		FNMA		4.000		07/01/47		45,805
	34,168,714		FNMA		4.500		07/01/47		36,675
	18,821,906		FNMA		4.000		08/01/47		19,820
	993,511		FNMA		4.500		09/01/47		1,066
	4,000,000	h	FNMA		4.500		10/25/47		4,292
	4,521		Government National Mortgage Association (GNMA)		8.000		06/15/22		4

356

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,931		GNMA		6.500	%	08/15/23	$	6
	11,649		GNMA		6.500		08/15/23		13
	5,691,403		GNMA		2.580		08/15/25		5,647
	73,923		GNMA		6.500		05/20/31		88
	8,168,386		GNMA		2.640		01/15/33		8,076
	11,462,212		GNMA		2.690		06/15/33		11,271
	9,214,754		GNMA		3.700		10/15/33		9,710
	78,992		GNMA		6.000		10/20/36		88
	89,452		GNMA		6.000		01/20/37		102
	501,540		GNMA		6.000		02/20/37		571
	221,368		GNMA		5.000		04/15/38		244
	145,798		GNMA		6.000		08/20/38		165
	322,080		GNMA		6.500		11/20/38		371
	24,312		GNMA		4.500		02/20/39		27
	8,416,240		GNMA		3.700		08/15/40		8,783
	34,251		GNMA		4.500		08/20/41		38
	122,283		GNMA		4.500		09/20/41		135
	26,708		GNMA		4.500		01/20/44		29
	33,164		GNMA		4.500		02/20/44		37
	383,503		GNMA		4.500		05/20/44		423
	51,585		GNMA		4.500		05/20/44		57
	400,679		GNMA		4.500		08/20/44		442
	404,692		GNMA		4.500		09/20/44		447
	144,037		GNMA		4.500		10/20/44		158
	109,236		GNMA		4.500		11/20/44		119
	251,946		GNMA		4.500		12/20/44		278
	404,957		GNMA		4.500		02/20/45		447
	476,788		GNMA		4.500		08/20/45		526
	436,188		GNMA		4.500		08/20/45		482
	446,191		GNMA		4.500		12/20/45		493
	60,709,522		GNMA		3.500		06/20/47		63,178
	10,872,869		GNMA		4.000		06/20/47		11,489
	65,846,327		GNMA		3.000		08/20/47		66,818
	33,764,051		GNMA		3.500		08/20/47		35,137
			TOTAL MORTGAGE BACKED						1,090,909
MUNICIPAL BONDS - 4.5%
	3,340,000		Antelope Valley-East Kern Water Agency Financing Authority		4.326		06/01/36		3,353
	4,500,000	g	Basin Electric Power Coop		6.127		06/01/41		5,185
	3,790,000		Bay Area Water Supply & Conservation Agency		2.535		10/01/21		3,809
	2,635,000		Bay Area Water Supply & Conservation Agency		3.015		10/01/24		2,643
	1,170,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		1,175
	6,270,600		California Earthquake Authority		2.805		07/01/19		6,298
	13,000,000		California Housing Finance Agency		2.966		08/01/22		13,319
	6,165,000	g	California Pollution Control Financing Authority		5.000		07/01/27		6,196
	8,020,000	g	California Pollution Control Financing Authority		5.000		07/01/37		8,060
	2,500,000	g	California Pollution Control Financing Authority		5.000		11/21/45		2,512
	3,700,000		Calleguas Municipal Water District		2.030		07/01/18		3,716
	9,700,000		Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		12,277

357

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,035,000		City & County of Honolulu, HI		2.668	%	10/01/27	$	2,964
	1,250,000		City & County of Honolulu, HI		6.114		07/01/29		1,337
	7,085,000		City & County of San Francisco CA		4.000		04/01/47		7,151
	8,850,000		City of Austin TX Water & Wastewater System Revenue		1.933		05/15/19		8,866
	2,750,000		City of Austin TX Water & Wastewater System Revenue		2.133		11/15/19		2,763
	6,500,000		City of Chicago IL		7.750		01/01/42		7,036
	7,280,000		City of Cincinnati OH Water System Revenue		2.568		12/01/21		7,420
	560,000		City of Eugene, OR		6.320		08/01/22		631
	1,250,000		City of Florence SC		4.250		12/01/34		1,268
	12,500,000		City of Houston TX Utility System Revenue		2.563		05/15/20		12,662
	500,000		City of Jersey City NJ		2.079		09/01/18		501
	925,000		City of Jersey City NJ		2.423		09/01/19		927
	3,010,000		City of Norfolk VA		3.000		10/01/35		2,759
	3,665,000		City of Norfolk VA		3.050		10/01/36		3,373
	3,345,000		City of San Francisco CA Public Utilities Commission Water Revenue		3.000		11/01/26		3,321
	3,725,000		City of San Francisco CA Public Utilities Commission Water Revenue		3.950		11/01/36		3,790
	18,500,000		City of San Francisco CA Public Utilities Commission Water Revenue		4.185		11/01/46		19,098
	1,000,000		City of San Juan Capistrano CA		3.700		08/01/31		1,010
	1,000,000		Commonwealth Financing Authority		2.675		06/01/21		1,007
	1,150,000		Commonwealth Financing Authority		2.875		06/01/22		1,161
	2,310,000		Commonwealth Financing Authority		3.075		06/01/23		2,342
	9,050,000		Commonwealth of Massachusetts		3.277		06/01/46		8,667
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,473
	15,000,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		16,866
	1,615,000		Fiscal Year 2005 Securitization Corp		4.760		08/15/19		1,648
	9,000,000		Florida State Board of Administration Finance Corp		2.163		07/01/19		9,038
	15,630,000	j	Garden State Preservation Trust		0.000		11/01/22		14,050
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,090
	1,250,000		Grant County Public Utility District No 2		4.164		01/01/35		1,308
	4,135,000		Greene County OH		2.720		12/01/21		4,193
	4,365,000		Greene County OH		3.120		12/01/23		4,446
	4,615,000		Greene County OH		3.270		12/01/24		4,704
	4,755,000		Greene County OH		3.420		12/01/25		4,851
	1,500,000		Guadalupe Valley Electric Coop, Inc		5.671		10/01/32		1,636
	975,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		985
	5,125,000		Imperial Irrigation District Electric System Revenue		4.500		11/01/40		5,651
	2,000,000		Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,033
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		556
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,554
	3,725,000		Maryland Community Development Administration Housing Revenue		3.797		03/01/39		3,684
	775,000		Massachusetts Housing Finance Agency		4.782		12/01/20		796

358

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,650,000		Massachusetts St. Water Pollution Abatement		5.192	%	08/01/40	$	5,400
	3,500,000		Metropolitan Council		1.750		09/01/20		3,483
	5,000,000		Metropolitan Water District of Southern California		6.250		07/01/39		5,351
	500,000		Michigan Finance Authority		5.000		07/01/22		562
	8,945,000		Michigan Finance Authority		5.000		07/01/22		10,219
	8,000,000		Michigan Finance Authority		5.000		07/01/22		9,159
	2,500,000		Michigan Finance Authority		5.000		07/01/30		2,816
	2,000,000		Michigan Finance Authority		5.000		07/01/31		2,244
	7,665,000		Michigan Finance Authority		3.610		11/01/32		7,539
	8,500,000		New Jersey Economic Development Authority		4.271		06/15/20		8,731
	7,400,000		New Jersey Economic Development Authority		5.706		06/15/30		7,798
	3,000,000		New Jersey Economic Development Authority		5.756		06/15/31		3,153
	1,590,000		New York State Energy Research & Development Authority		2.372		07/01/19		1,611
	1,285,000		New York State Energy Research & Development Authority		2.772		07/01/20		1,316
	1,590,000		New York State Energy Research & Development Authority		3.206		07/01/22		1,667
	1,200,000		New York State Environmental Facilities Corp		2.005		06/15/19		1,201
	1,220,000		New York State Environmental Facilities Corp		2.595		06/15/21		1,232
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,273
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,241
	2,120,000		New York State Environmental Facilities Corp		3.520		07/15/27		2,193
	500,000		New York State Environmental Facilities Corp		3.684		12/15/29		521
	1,315,000		New York State Urban Development Corp		6.500		12/15/18		1,360
	1,250,000	g	Niagara Area Development Corp		4.000		11/01/24		1,251
	4,750,000		Northern California Power Agency		4.320		07/01/24		5,037
	4,760,000		Ohio State Water Development Authority		4.879		12/01/34		5,508
	700,000		Oklahoma Water Resources Board		3.071		04/01/22		727
	2,500,000		Palm Beach County Solid Waste Authority		2.636		10/01/24		2,474
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		2.787		01/01/18		1,002
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		3.037		01/01/19		996
	1,070,000		Pend Oreille County Public Utility District No Box Canyon		3.621		01/01/21		1,071
	5,000,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/30		5,182
	3,000,000		Pittsburgh Water & Sewer Authority		6.610		09/01/24		3,416
	1,000,000		Sacramento Area Flood Control Agency		2.699		10/01/22		997
	435,000		San Francisco City & County Redevelopment Agency		3.113		08/01/22		445
	2,000,000		San Francisco City & County Redevelopment Agency		4.375		08/01/44		2,097
	1,000,000		South Dakota Conservancy District		1.620		08/01/18		1,001
	3,330,000		South Dakota Conservancy District		1.648		08/01/18		3,333
	2,920,000		South Dakota Conservancy District		1.898		08/01/19		2,927
	38,830,000		State of California		3.750		10/01/37		39,889
	10,050,000		State of California		4.988		04/01/39		10,937
	2,435,000		State of California Department of Water Resources		2.437		12/01/21		2,457

359

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,228,000		State of Illinois		4.350	%	06/01/18	$	2,254
	10,500,000		State of Illinois		5.000		02/01/19		10,901
	9,800,000		State of Illinois		5.000		02/01/20		10,364
	8,000,000		State of Illinois		5.000		02/01/22		8,682
	9,000,000		State of Illinois		5.520		04/01/38		9,230
	16,225,000		State of Louisiana		1.260		08/01/18		16,199
	1,500,000		State of Louisiana		1.769		08/01/20		1,496
	4,505,000		State of Michigan		3.375		12/01/20		4,711
	4,405,000		State of Michigan		3.590		12/01/26		4,566
	2,500,000		State of Ohio		5.412		09/01/28		2,976
	2,500,000		State of Texas		2.749		10/01/23		2,536
	5,000,000		State of Texas		6.072		10/01/29		5,393
	2,025,000		State of Texas		3.576		08/01/34		2,056
	3,370,000		State of Texas		3.726		08/01/43		3,323
	3,000		State of Wisconsin		5.700		05/01/26		3
	9,480,000		Suffolk County Water Authority		3.500		06/01/39		9,638
	4,000,000		Suffolk County Water Authority		4.000		06/01/39		4,289
	1,650,000		Syracuse Industrial Development Agency		5.000		01/01/36		1,619
	2,280,000		Tampa Bay Water		2.612		10/01/25		2,207
	3,225,000		Tampa Bay Water		2.782		10/01/26		3,138
	3,000,000		Tampa Bay Water		2.952		10/01/27		2,947
	1,255,000		Texas Water Development Board		4.248		10/15/35		1,316
	4,170,000		Texas Water Development Board		4.648		04/15/50		4,430
	5,000,000		Tuolumne Wind Project Authority		6.918		01/01/34		6,371
	3,035,000		University of California		3.809		05/15/28		3,196
	11,400,000		University of California		4.009		05/15/30		12,155
	1,000,000		University of Cincinnati		3.250		06/01/29		1,024
	1,560,000		University of Cincinnati		3.650		06/01/34		1,600
	1,615,000		University of Cincinnati		3.700		06/01/35		1,656
	18,000,000		University of New Mexico		3.532		06/20/32		18,248
	17,500,000		University of Virginia		3.570		04/01/45		17,905
	5,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/42		5,121
	3,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/46		3,053
	12,710,000	g	Virgin Islands Water & Power Authority-Electric System		5.500		11/15/18		12,686
	1,000,000		Washington County Clean Water Services		5.078		10/01/24		1,144
	695,000		Water Works Board of the City of Birmingham		1.509		01/01/19		690
	2,470,000		Water Works Board of the City of Birmingham		1.788		01/01/20		2,436
	3,750,000		Water Works Board of the City of Birmingham		1.988		01/01/21		3,695
	3,100,000		Water Works Board of the City of Birmingham		2.192		01/01/22		3,035
	600,000		West Virginia Water Development Authority		5.000		11/01/21		680
	1,345,000		West Virginia Water Development Authority		5.000		11/01/22		1,554
	1,000,000		West Virginia Water Development Authority		5.000		11/01/23		1,176
			TOTAL MUNICIPAL BONDS						636,675
U.S. TREASURY SECURITIES - 2.3%
	6,000,000		United States Treasury Bond		3.125		02/15/43		6,326
	1,000,000		United States Treasury Bond		3.375		05/15/44		1,102
	10,285,000		United States Treasury Bond		2.500		05/15/46		9,551
	66,090,000		United States Treasury Bond		2.875		11/15/46		66,265

360

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	84,910,000		United States Treasury Bond			3.000	%	05/15/47	$	87,308
	600,000		United States Treasury Bond			2.750		08/15/47		587
	19,860,000		United States Treasury Note			1.125		01/31/19		19,783
	2,750,000		United States Treasury Note			1.250		04/30/19		2,742
	5,750,000		United States Treasury Note			1.625		03/15/20		5,758
	11,170,000		United States Treasury Note			1.375		09/15/20		11,091
	13,285,000		United States Treasury Note			1.375		05/31/21		13,101
	4,150,000		United States Treasury Note			2.000		07/31/22		4,165
	37,830,000		United States Treasury Note			1.625		08/31/22		37,298
	4,500,000		United States Treasury Note			1.750		09/30/22		4,457
	12,234,500		United States Treasury Note			1.625		11/15/22		12,041
	13,130,000		United States Treasury Note			1.750		01/31/23		12,966
	5,200,000		United States Treasury Note			1.500		03/31/23		5,060
	1,500,000		United States Treasury Note			1.375		09/30/23		1,442
	3,200,000		United States Treasury Note			1.625		10/31/23		3,119
	17,472,000		United States Treasury Note			2.250		08/15/27		17,345
			TOTAL U.S. TREASURY SECURITIES							321,507
			TOTAL GOVERNMENT BONDS							3,354,739
			(Cost $3,324,633)
STRUCTURED ASSETS - 2.9%
ASSET BACKED - 1.5%
	925,000	i	Basic Asset Backed Securities Trust	LIBOR 1 M + 0.310%		1.547		04/25/36		885
			Series - 2006 1 (Class A3)
	4,000,000	g	Capital Automotive REIT			3.660		10/15/44		4,047
			Series - 2014 1A (Class A)
	3,983,333	g	Capital Automotive REIT			3.870		04/15/47		4,016
			Series - 2017 1A (Class A1)
	4,001,302	i	Chase Funding Loan Acquisition Trust	LIBOR 1 M + 0.855%		2.092		06/25/34		3,800
			Series - 2004 OPT1 (Class M1)
	5,850,000	g	DB Master Finance LLC			3.262		02/20/45		5,859
			Series - 2015 1A (Class A2I)
	3,000,000	g,h	DB Master Finance LLC			3.629		11/20/47		3,010
			Series - 2017 1A (Class A2I)
	1,975,000	g	Domino’s Pizza Master Issuer LLC			3.484		10/25/45		1,996
			Series - 2015 1A (Class A2I)
	888,750	g	Domino’s Pizza Master Issuer LLC			4.474		10/25/45		917
			Series - 2015 1A (Class A2II)
	12,100,000	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		12,043
			Series - 2017 1A (Class A2II)
	11,641,288	g	HERO Funding Trust			3.840		09/21/40		12,092
			Series - 2015 1A (Class A)
	2,606,574	g	HERO Funding Trust			3.990		09/21/40		2,665
			Series - 2014 2A (Class A)
	5,610,968	g	HERO Funding Trust			3.750		09/20/41		5,701
			Series - 2016 2A (Class A)
	5,356,460	g	HERO Funding Trust			4.050		09/20/41		5,638
			Series - 2016 1A (Class A)
	2,076,115	g	HERO Funding Trust			3.080		09/20/42		2,067
			Series - 2016 3A (Class A1)

361

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	12,718,882	g	HERO Funding Trust			3.710	%	09/20/47	$	12,825
			Series - 2017 1A (Class A1)
	2,964,719	g	HERO Funding Trust			3.280		09/20/48		2,982
			Series - 2017 2A (Class A1)
	1,180,732	g	HERO Residual Funding			4.500		09/21/42		1,175
			Series - 2016 1R (Class A1)
	416,667	g	Hertz Vehicle Financing LLC			6.440		02/25/19		421
			Series - 2010 1A (Class B3)
	810,761	i	Lehman XS Trust	LIBOR 1 M + 0.250%		1.487		02/25/36		802
			Series - 2006 1 (Class 1A1)
	3,716,688	g	MVW Owner Trust			2.420		12/20/34		3,710
			Series - 2017 1A (Class A)
	6,853,666	g	Renew			3.670		09/20/52		6,831
			Series - 2017 1A (Class A)
	326,556		Residential Funding Mortgage Securities II, Inc (Step Bond)			6.010		02/25/36		328
			Series - 2006 HI1 (Class M1)
	140,251		Residential Funding Mortgage Securities II, Inc (Step Bond)			6.060		02/25/36		147
			Series - 2006 HI1 (Class M2)
	662,510		Santander Drive Auto Receivables Trust			1.960		05/15/20		663
			Series - 2015 5 (Class B)
	800,000		Santander Drive Auto Receivables Trust			2.740		12/15/21		806
			Series - 2015 5 (Class C)
	484,311	g	Sierra Receivables Funding Co LLC			1.590		11/20/29		484
			Series - 2013 1A (Class A)
	731,016	g	Sierra Timeshare Receivables Funding LLC			2.580		09/20/32		731
			Series - 2015 3A (Class A)
	517,228	g	Sierra Timeshare Receivables Funding LLC			3.080		09/20/32		518
			Series - 2015 3A (Class B)
	5,348,026	g	SolarCity LMC			4.590		04/20/44		5,305
			Series - 2014 1 (Class A)
	25,706,249	g	SolarCity LMC			4.020		07/20/44		25,056
			Series - 2014 2 (Class A)
	5,786,256	g	SolarCity LMC			4.800		09/20/48		5,853
			Series - 2016 A (Class A)
	3,666,558	g	SpringCastle America Funding LLC			3.050		04/25/29		3,691
			Series - 2016 AA (Class A)
	3,586,247	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%		2.737		04/25/35		3,504
			Series - 2005 7XS (Class 2A1A)
	10,426,164		Toyota Auto Receivables Owner Trust			1.270		05/15/19		10,420
			Series - 2015 B (Class A3)
	22,500,000		Toyota Auto Receivables Owner Trust			1.300		04/15/20		22,450
			Series - 2016 B (Class A3)
	22,500,000		Toyota Auto Receivables Owner Trust			1.740		09/15/20		22,527
			Series - 2015 B (Class A4)
	6,187,294	g	VOLT LVIII LLC (Step Bond)			3.375		05/28/47		6,226
			Series - 2017 NPL5 (Class A1)
	2,500,000	g	VOLT LVIII LLC (Step Bond)			5.375		05/28/47		2,486
			Series - 2017 NPL5 (Class A2)

362

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL				ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	342,684	†,g,m		Wachovia Amortization Controlled Heloc NIM			5.683	%	08/12/47	$	344
				Series - 2006 N1 (Class N1)
	267,367		g,i	Wachovia Loan Trust	LIBOR 1 M + 0.360%		1.597		05/25/35		266
				Series - 2005 SD1 (Class A)
	3,920,000		g	Wendys Funding LLC			3.371		06/15/45		3,955
				Series - 2015 1A (Class A2I)
				TOTAL ASSET BACKED							209,242
OTHER MORTGAGE BACKED - 1.5%
	1,044,572		g	Banc of America Commercial Mortgage Trust			5.416		01/15/49		1,050
				Series - 2007 1 (Class AM)
	1,855,017		i	Banc of America Commercial Mortgage Trust			5.482		01/15/49		1,852
				Series - 2007 1 (Class AMFX)
	2,000,000		g,i	Banc of America Commercial Mortgage Trust			6.038		02/10/51		2,003
				Series - 2007 5 (Class B)
	12,500,000		g	BBCMS Trust			3.593		09/15/32		13,008
				Series - 2015 MSQ (Class A)
	6,000,000		g	BBCMS Trust			3.894		09/15/32		6,190
				Series - 2015 MSQ (Class B)
	2,590,000		i	Bear Stearns Commercial Mortgage Securities Trust			6.120		09/11/42		2,589
				Series - 2007 T28 (Class AJ)
	44,577		i	Bear Stearns Commercial Mortgage Securities Trust			5.878		06/11/50		45
				Series - 2007 PW17 (Class AJ)
	5,000,000		g,i	Cityline Commercial Mortgage Trust			2.871		11/10/31		4,984
				Series - 2016 CLNE (Class A)
	2,652,350		i	COBALT CMBS Commercial Mortgage Trust			5.771		05/15/46		2,692
				Series - 2007 C3 (Class AJ)
	20,761,000		g	COMM Mortgage Trust			3.544		03/10/31		21,285
				Series - 2013 WWP (Class C)
	5,000,000		i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%		5.487		01/25/29		5,481
				Series - 2016 C04 (Class 1M2)
	2,250,000		i	Connecticut Avenue Securities	LIBOR 1 M + 4.450%		5.687		01/25/29		2,465
				Series - 2016 C05 (Class 2M2)
	108,246		i	Credit Suisse Commercial Mortgage Trust			5.903		09/15/39		109
				Series - 2007 C4 (Class A1AJ)
	1,343,778		i	Credit Suisse Commercial Mortgage Trust			5.625		01/15/49		1,377
				Series - 2007 C2 (Class AJ)
	2,000,000		g	Credit Suisse Mortgage Capital Certificates			5.626		05/15/23		2,116
				Series - 2006 OMA (Class D)
	8,750,000		g,i	CSAIL Commercial Mortgage Trust			3.800		06/15/37		8,717
				Series - 2017 C8 (Class 85BB)
	6,650,000		g,i	CSAIL Commercial Mortgage Trust			3.800		06/15/37		6,759
				Series - 2017 C8 (Class 85BA)
	1,715,000		g,i	DBUBS Mortgage Trust			5.685		11/10/46		1,862
				Series - 2011 LC1A (Class C)
	250,000		i	GE Commercial Mortgage Corp			5.606		12/10/49		254
				Series - 2007 C1 (Class AM)
	3,660,000		i	GMAC Commercial Mortgage Securities, Inc			4.984		12/10/41		3,726
				Series - 2004 C3 (Class C)
	10,000,000		g	GRACE Mortgage Trust			3.369		06/10/28		10,344
				Series - 2014 GRCE (Class A)

363

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	2,535,000	g,i	GS Mortgage Securities Corp II			5.356	%	12/10/43	$	2,703
			Series - 2010 C2 (Class B)
	5,000,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		4,879
			Series - 2016 10HY (Class A)
	5,000,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		4,812
			Series - 2016 10HY (Class C)
	5,000,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		4,874
			Series - 2016 10HY (Class B)
	475,691	i	Impac CMB Trust	LIBOR 1 M + 0.660%		1.897		03/25/35		455
			Series - 2004 11 (Class 2A1)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.581		07/15/46		3,242
			Series - 2011 C4 (Class C)
	533,181	i	LB-UBS Commercial Mortgage Trust			5.737		03/15/39		539
			Series - 2006 C3 (Class C)
	55,670	i	LB-UBS Commercial Mortgage Trust			5.533		02/15/40		56
			Series - 2007 C1 (Class C)
	3,390,000	i	LB-UBS Commercial Mortgage Trust			5.563		02/15/40		3,388
			Series - 2007 C1 (Class D)
	230,310	i	LB-UBS Commercial Mortgage Trust			6.114		07/15/40		230
			Series - 2007 C6 (Class AM)
	4,827,895	g,i	LVII Resecuritization Trust	LIBOR 1 M + 2.800%		4.039		07/25/47		4,838
			Series - 2015 A (Class A)
	4,000,000	g,i	MAD Mortgage Trust			3.478		08/15/34		4,044
			Series - 2017 330M (Class B)
	645,000	i	Merrill Lynch Mortgage Trust			6.665		02/12/51		648
			Series - 0 C1 (Class AJA)
	2,750,000	i	ML-CFC Commercial Mortgage Trust			5.526		03/12/51		2,793
			Series - 2007 6 (Class AM)
	21,000,000	g	Morgan Stanley Capital I Trust			3.350		07/13/29		21,677
			Series - 2014 CPT (Class A)
	1,124,928	i	Morgan Stanley Capital I Trust			5.389		11/12/41		1,126
			Series - 2006 HQ10 (Class AJ)
	229,143	i	Morgan Stanley Capital I Trust			5.834		10/15/42		229
			Series - 2006 IQ11 (Class AJ)
	384,676	i	Morgan Stanley Capital I Trust			5.861		04/12/49		384
			Series - 2007 HQ12 (Class C)
	1,397,574	i	Morgan Stanley Capital I Trust			5.907		06/11/49		1,402
			Series - 2007 IQ15 (Class AJ)
	4,000,000	i	Morgan Stanley Capital I Trust			6.363		12/12/49		3,755
			Series - 2007 IQ16 (Class AJFX)
	5,000,000	g,i	MSDB Trust			3.427		07/11/39		5,047
			Series - 2017 712F (Class A)
	17,385,000	g	OBP Depositor LLC Trust			4.646		07/15/45		18,358
			Series - 2010 OBP (Class A)
	4,879,052	g,i	Sequoia Mortgage Trust			3.000		08/25/47		4,927
			Series - 2017 5 (Class A5)
	739,964	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.400%		3.637		01/25/25		741
			Series - 2015 DN1 (Class M2)

364

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	4,616,394	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.200%		3.437	%	03/25/25	$	4,655
			Series - 2015 HQ1 (Class M2)
	750,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 3.800%		5.037		03/25/25		808
			Series - 2015 HQ1 (Class M3)
	486,089	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.250%		2.487		10/25/28		486
			Series - 2016 DNA2 (Class M1)
	1,750,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.350%		2.587		03/25/29		1,772
			Series - 2016 HQA3 (Class M2)
	311,184	i	Wachovia Bank Commercial Mortgage Trust			5.818		05/15/46		311
			Series - 2007 C34 (Class AM)
	3,000,000	i	Wachovia Bank Commercial Mortgage Trust			6.214		05/15/46		2,997
			Series - 2007 C34 (Class B)
	1,700,000	i	Wachovia Bank Commercial Mortgage Trust			6.274		05/15/46		1,727
			Series - 2007 C34 (Class AJ)
	916,845	i	Wachovia Bank Commercial Mortgage Trust			5.660		04/15/47		931
			Series - 2007 C31 (Class AJ)
	1,000,000	i	Wachovia Bank Commercial Mortgage Trust			5.700		04/15/47		1,005
			Series - 2007 C31 (Class B)
	700,000	i	Wachovia Bank Commercial Mortgage Trust			6.148		04/15/47		720
			Series - 2007 C31 (Class C)
	875,000	i	Wachovia Bank Commercial Mortgage Trust			5.750		06/15/49		875
			Series - 2007 C32 (Class B)
	7,865,580	i	Wachovia Bank Commercial Mortgage Trust			5.750		06/15/49		8,013
			Series - 2007 C32 (Class AJ)
	313,110	i	Wachovia Bank Commercial Mortgage Trust			5.953		02/15/51		313
			Series - 2007 C33 (Class AM)
			TOTAL OTHER MORTGAGE BACKED							218,668
			TOTAL STRUCTURED ASSETS							427,910
			(Cost $427,260)
			TOTAL BONDS							5,497,787
			(Cost $5,435,480)

365

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 59.8%
AUTOMOBILES & COMPONENTS - 1.3%
	86,600		Aisin Seiki Co Ltd	$	4,566
	129,672		Bayerische Motoren Werke AG.		13,161
	91,354		Bayerische Motoren Werke AG. (Preference)		8,143
	14,599		BorgWarner, Inc		748
	12,423		Delphi Automotive plc		1,222
	234,382		Denso Corp		11,862
	2,160,191		Ford Motor Co		25,858
	307,503		Fuji Heavy Industries Ltd		11,091
	111,164		Harley-Davidson, Inc		5,359
	521,480		Honda Motor Co Ltd		15,405
	205,589	*	Magna International, Inc		10,972
	373,659		Mazda Motor Corp		5,724
	53,028		Michelin (C.G.D.E.) (Class B)		7,737
	1,984	*	Modine Manufacturing Co		38
	13,300		NGK Spark Plug Co Ltd		283
	1,147,864		Nissan Motor Co Ltd		11,372
	30,309		Renault S.A.		2,978
	277,400		Sumitomo Electric Industries Ltd		4,535
	99,695	*,e	Tesla, Inc		34,006
	1,700	*	Visteon Corp		210
	135,700		Yamaha Motor Co Ltd		4,062
			TOTAL AUTOMOBILES & COMPONENTS		179,332
BANKS - 4.8%
	37,611		Ameris Bancorp		1,805
	54,352		Associated Banc-Corp		1,318
	803,123		Australia & New Zealand Banking Group Ltd		18,708
	4,303,423		Banca Intesa S.p.A.		15,235
	1,619,661		Banca Intesa S.p.A. RSP		5,367
	3,846		Bancfirst Corp		218
	1,929,911		Banco Bilbao Vizcaya Argentaria S.A.		17,254
	3,214,045		Banco de Sabadell S.A.		6,719
	1,042,016		Bank Hapoalim Ltd		7,292
	513,976		Bank Leumi Le-Israel		2,732
	46,788		Bank Mutual Corp		475
	1,080		Bank of Hawaii Corp		90
	206,941	*	Bank of Montreal		15,661
	321,027		Bank of Nova Scotia		20,634
	3,264		Bank of the Ozarks, Inc		157
	3,730		BankUnited		133
	14,280		Banner Corp		875

366

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	765,740		BB&T Corp	$	35,944
	356		Bendigo Bank Ltd		3
	17,567		Beneficial Bancorp, Inc		292
	41,663		Berkshire Hills Bancorp, Inc		1,614
	2,122,000		BOC Hong Kong Holdings Ltd		10,336
	970		BOK Financial Corp		86
	20,664		Brookline Bancorp, Inc		320
	14,021		Bryn Mawr Bank Corp		614
	2,033,355		CaixaBank S.A.		10,206
	19,106		Camden National Corp		834
	87,694		Canadian Imperial Bank of Commerce/Canada		7,673
	28,674		Capital Bank Financial Corp		1,177
	3,360		Cathay General Bancorp		135
	9,281		Chemical Financial Corp		485
	264,547		CIT Group, Inc		12,976
	677,937		Citizens Financial Group, Inc		25,674
	5,178		City Holding Co		372
	2,120		Columbia Banking System, Inc		89
	234,302		Comerica, Inc		17,868
	66,596		Commerce Bancshares, Inc		3,847
	116,899	*	Commerzbank AG.		1,594
	401,750		Commonwealth Bank of Australia		23,789
	3,936		Community Bank System, Inc		218
	3,149		Community Trust Bancorp, Inc		146
	9,365		Cullen/Frost Bankers, Inc		889
	35,598	*	Customers Bancorp, Inc		1,161
	768,193		DBS Group Holdings Ltd		11,826
	199,623		DNB NOR Holding ASA		4,030
	11,057		East West Bancorp, Inc		661
	39,046	*	FCB Financial Holdings, Inc		1,886
	11,562		Federal Agricultural Mortgage Corp (Class C)		841
	30,988		Fifth Third Bancorp		867
	115,446		First Commonwealth Financial Corp		1,631
	6,726		First Financial Bancorp		176
	25,728	e	First Financial Bankshares, Inc		1,163
	1,399		First Financial Corp		67
	25,682		First Interstate Bancsystem, Inc		982
	26,737		First Merchants Corp		1,148
	2,260		First Republic Bank		236
	20,089		Flushing Financial Corp		597
	16,186		FNB Corp		227
	2,590		Glacier Bancorp, Inc		98
	5,441		Hancock Holding Co		264
	460,200		Hang Seng Bank Ltd		11,251
	7,159		Hanmi Financial Corp		222
	21,059		Heartland Financial USA, Inc		1,040
	25,997		Heritage Financial Corp		767
	1		Home Bancshares, Inc		0	^
	31,813	*	HomeStreet, Inc		859
	21,937	*	HomeTrust Bancshares, Inc		563
	91,000		Hope Bancorp, Inc		1,612
	15,980		Independent Bank Corp (MA)		1,193
	1,038,765		ING Groep NV		19,147
	1,147		International Bancshares Corp		46

367

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	136,208		Investors Bancorp, Inc	$	1,858
	133,725		KBC Groep NV		11,345
	1,230,729		Keycorp		23,162
	13,009		Lakeland Financial Corp		634
	2,791	e	Live Oak Bancshares, Inc		65
	168,014		M&T Bank Corp		27,057
	1,800		MB Financial, Inc		81
	58,589	*	MGIC Investment Corp		734
	245,000		Mitsui Trust Holdings, Inc		8,850
	2,476		Mizrahi Tefahot Bank Ltd		44
	8,253,921		Mizuho Financial Group, Inc		14,469
	746,251		National Australia Bank Ltd		18,502
	31,271		National Bank Holdings Corp		1,116
	12,836		NBT Bancorp, Inc		471
	620,145		New York Community Bancorp, Inc		7,994
	1,044,967		Nordea Bank AB		14,188
	54,855		Northfield Bancorp, Inc		952
	58,431		OFG Bancorp		535
	19,038		Old National Bancorp		348
	23,224		Opus Bank		557
	21,876		PacWest Bancorp		1,105
	15,278		People’s United Financial, Inc		277
	19,960		Pinnacle Financial Partners, Inc		1,336
	329,457		PNC Financial Services Group, Inc		44,401
	971,340		Regions Financial Corp		14,794
	993,900		Resona Holdings, Inc		5,110
	8,068		S&T Bancorp, Inc		319
	6,272		ServisFirst Bancshares, Inc		244
	216,972		Skandinaviska Enskilda Banken AB (Class A)		2,863
	26,162		Southside Bancshares, Inc		951
	1,241,232	*	Standard Chartered plc		12,342
	17,563		State Bank & Trust Co		503
	8,646		Stock Yards Bancorp, Inc		329
	1,650		Sun Bancorp, Inc		41
	31,853	*	SVB Financial Group		5,959
	472,823		Svenska Handelsbanken AB		7,144
	282,989		Swedbank AB (A Shares)		7,836
	800	*	Texas Capital Bancshares, Inc		69
	14,003		TFS Financial Corp		226
	63,097	*	The Bancorp, Inc		522
	440,682		Toronto-Dominion Bank		24,811
	10,795		TowneBank		362
	12,715		Trico Bancshares		518
	27,461	*	Tristate Capital Holdings, Inc		629
	1,700		Trustmark Corp		56
	9,293		UMB Financial Corp		692
	33,564		Umpqua Holdings Corp		655
	19,739		Union Bankshares Corp		697
	23,476		United Bankshares, Inc		872
	55,304		United Financial Bancorp, Inc (New)		1,012
	15,008		Univest Corp of Pennsylvania		480
	896,029		US Bancorp		48,018
	36,494	*	Walker & Dunlop, Inc		1,910

368

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	13,326		Webster Financial Corp	$	700
	8,948		WesBanco, Inc		367
	13,401	e	Westamerica Bancorporation		798
	51,655	*	Western Alliance Bancorp		2,742
	849,956		Westpac Banking Corp		21,379
	1,110		Wintrust Financial Corp		87
	5,244		WSFS Financial Corp		256
	41,499		Zions Bancorporation		1,958
			TOTAL BANKS		684,747
CAPITAL GOODS - 4.9%
	270,211		3M Co		56,717
	18,212		A.O. Smith Corp		1,082
	618,509		ABB Ltd		15,294
	881		Acuity Brands, Inc		151
	4,320		AGCO Corp		319
	71,424		Air Lease Corp		3,044
	4,760		Allegion plc		412
	291,683		Ametek, Inc		19,263
	164,837		Arconic, Inc		4,101
	17,429		Argan, Inc		1,172
	73,600		Asahi Glass Co Ltd		2,734
	41,142		Assa Abloy AB		942
	206,785		Atlas Copco AB (A Shares)		8,772
	172,789		Atlas Copco AB (B Shares)		6,712
	65,507		Barnes Group, Inc		4,614
	2,120	*	Beacon Roofing Supply, Inc		109
	28,642		Briggs & Stratton Corp		673
	73,289	*	Builders FirstSource, Inc		1,318
	3,870		Carlisle Cos, Inc		388
	237,426		Caterpillar, Inc		29,609
	16,918	*	Chart Industries, Inc		664
	63,006	e	Chicago Bridge & Iron Co NV		1,059
	813,914		CNH Industrial NV		9,771
	216,245		Compagnie de Saint-Gobain		12,884
	197,401		Cummins, Inc		33,169
	111,600		Daikin Industries Ltd		11,302
	925		DCC plc		90
	124,686		Deere & Co		15,659
	145,440	*	DigitalGlobe, Inc		5,127
	9,530		Donaldson Co, Inc		438
	19,038		Dover Corp		1,740
	24,059	*	DXP Enterprises, Inc		758
	350,156		Eaton Corp		26,889
	4,718		EMCOR Group, Inc		327
	40,628	*	Esterline Technologies Corp		3,663
	152,300	e	Fastenal Co		6,942
	29,348		Finning International, Inc		671
	11,415		Flowserve Corp		486
	7,580		Fortune Brands Home & Security, Inc		510
	3,430		Graco, Inc		424
	31,785		H&E Equipment Services, Inc		928
	117,926		Hexcel Corp		6,771
	115,000		Hino Motors Ltd		1,407

369

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	256,189		Illinois Tool Works, Inc	$	37,906
	142,451		Ingersoll-Rand plc		12,702
	2,930		ITT, Inc		130
	548,041		Johnson Controls International plc		22,081
	35,030		Kaman Corp		1,954
	55,200		Kawasaki Heavy Industries Ltd		1,830
	1,195,870		Keppel Corp Ltd		5,741
	82,233	*,e	KEYW Holding Corp, The		626
	408,000		Komatsu Ltd		11,553
	531,700		Kubota Corp		9,672
	52,980		L3 Technologies, Inc		9,983
	2,980		Lennox International, Inc		533
	3,716		Lincoln Electric Holdings, Inc		341
	436,385		Masco Corp		17,023
	430,602		Meggitt plc		3,008
	562,200		Mitsubishi Corp		13,080
	804,700		Mitsubishi Electric Corp		12,588
	3,770		MSC Industrial Direct Co (Class A)		285
	20,156	*	MYR Group, Inc		587
	83,000		NGK Insulators Ltd		1,555
	228,900		NSK Ltd		3,090
	6,360		Oshkosh Truck Corp		525
	68,619		Osram Licht AG.		5,481
	154,097		Owens Corning, Inc		11,919
	126,765		PACCAR, Inc		9,170
	41,585		Parker-Hannifin Corp		7,278
	110,539		Pentair plc		7,512
	457,158	*,e	Plug Power, Inc		1,193
	170,997	*	Quanta Services, Inc		6,390
	247,163		Rexel S.A.		4,276
	35,911		Rockwell Automation, Inc		6,400
	250,811		Rockwell Collins, Inc		32,784
	56,524		Roper Industries, Inc		13,758
	17,377	*	Rush Enterprises, Inc (Class A)		804
	314,986		Sandvik AB		5,440
	179,938		Schneider Electric S.A.		15,669
	1,554	*	Sensata Technologies Holding BV		75
	176,407		Siemens AG.		24,893
	2,873		Snap-On, Inc		428
	10,800		Stanley Works		1,630
	711,200		Sumitomo Corp		10,239
	22,205	*	Teledyne Technologies, Inc		3,535
	5,280		Timken Co		256
	22,276	*	Titan Machinery, Inc		346
	175,100		Toyota Tsusho Corp		5,755
	64,973		TransDigm Group, Inc		16,610
	1,172		Travis Perkins plc		23
	52,269		Triton International Ltd		1,740
	20,734	*	United Rentals, Inc		2,877
	10,935	*	Veritiv Corp		355
	43,367		Vestas Wind Systems AS		3,898
	3,459	e	W.W. Grainger, Inc		622
	34,781		Wabash National Corp		794

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES				COMPANY	VALUE (000)
	4,620		*	WABCO Holdings, Inc	$	684
	122,104			Wartsila Oyj (B Shares)		8,644
	3,753		*	Welbilt, Inc		87
	130,917		*	Wesco Aircraft Holdings, Inc		1,231
	3,950		*	WESCO International, Inc		230
	156,152			Wolseley plc		10,245
	19,775			Woodward Governor Co		1,535
	8,920			Xylem, Inc		559
				TOTAL CAPITAL GOODS		691,263
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
	2,604			ABM Industries, Inc		109
	138,545		*	ACCO Brands Corp		1,649
	25,543			Adecco S.A.		1,990
	297,895			Brambles Ltd		2,109
	544,551			Capita Group plc		4,120
	273,810		*	Copart, Inc		9,411
	4,400		e	Covanta Holding Corp		65
	20,242			Exponent, Inc		1,496
	21,492			Heidrick & Struggles International, Inc		455
	11,793		*	ICF International, Inc		636
	16,650			Insperity, Inc		1,465
	109,503			Intertek Group plc		7,320
	1,690			KAR Auction Services, Inc		81
	16,221			Kelly Services, Inc (Class A)		407
	18,783			Kforce, Inc		379
	19,001			Manpower, Inc		2,239
	38,808	*,m		Media General, Inc		0
	23,089		*	Mistras Group, Inc		473
	2,100			Mobile Mini, Inc		72
	61,102		*	Navigant Consulting, Inc		1,034
	1,000		*	On Assignment, Inc		54
	11,730			Pitney Bowes, Inc		164
	21,731			Resources Connection, Inc		302
	115,946			Robert Half International, Inc		5,837
	50,157		*	RPX Corp		666
	8,300			Secom Co Ltd		604
	3,993			SGS S.A.		9,588
	1,544		*	SP Plus Corp		61
	36,083		*,e	Team, Inc		482
	9,438			Tetra Tech, Inc		439
	23,633			Viad Corp		1,439
	151,464			Waste Management, Inc		11,855
				TOTAL COMMERCIAL & PROFESSIONAL SERVICES		67,001
CONSUMER DURABLES & APPAREL - 0.9%
	64,015			Adidas-Salomon AG.		14,497
	497,409			Barratt Developments plc		4,098
	30,182			Berkeley Group Holdings plc		1,504
	263,458			Burberry Group plc		6,221
	36,220			CalAtlantic Group, Inc		1,327
	83,671			Callaway Golf Co		1,207
	3,110			Carter’s, Inc		307
	20,968		*	Century Communities, Inc		518

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	10,831		Cie Financiere Richemont S.A.	$	991
	7,890		Coach, Inc		318
	11,168		CSS Industries, Inc		322
	20,506		Ethan Allen Interiors, Inc		664
	100,521	*,e	Fossil Group, Inc		938
	9,740		Garmin Ltd		526
	23,958	e	Hanesbrands, Inc		590
	3,276		Hasbro, Inc		320
	15,890	*,e	iRobot Corp		1,225
	28,652		Libbey, Inc		265
	7,290	*	Lululemon Athletica, Inc		454
	906,600		Matsushita Electric Industrial Co Ltd		13,157
	35,460		Mattel, Inc		549
	34,564	*	Meritage Homes Corp		1,535
	10,050	*	Michael Kors Holdings Ltd		481
	12,312	*	Mohawk Industries, Inc		3,047
	19,825		Movado Group, Inc		555
	242,267		Newell Rubbermaid, Inc		10,338
	768,105		Nike, Inc (Class B)		39,826
	14,720		Pandora AS		1,455
	2,210	e	Polaris Industries, Inc		231
	2,000		Pool Corp		216
	7,050		PVH Corp		889
	98,400		Sekisui House Ltd		1,659
	388,700		Sony Corp		14,502
	762,926		Taylor Wimpey plc		2,000
	4,110	*,e	Tempur Sealy International, Inc		265
	4,390		Tupperware Corp		271
	2,750	*,e	Under Armour, Inc		41
	5,167	*,e	Under Armour, Inc (Class A)		85
	18,549	*	Unifi, Inc		661
	20,181		VF Corp		1,283
	4,340		Whirlpool Corp		800
	396,000		Yue Yuen Industrial Holdings		1,511
			TOTAL CONSUMER DURABLES & APPAREL		131,649
CONSUMER SERVICES - 1.4%
	152,001		Accor S.A.		7,560
	15,319	*	American Public Education, Inc		323
	9,090		ARAMARK Holdings Corp		369
	1,289		Bob Evans Farms, Inc		100
	4,308	e	Brinker International, Inc		137
	6,997	*	Caesars Acquisition Co		150
	19,899		Carriage Services, Inc		509
	44,909		Choice Hotels International, Inc		2,870
	10,472		Darden Restaurants, Inc		825
	6,884		Dunkin Brands Group, Inc		365
	14,787	*	El Pollo Loco Holdings, Inc		180
	2,000		Hilton Worldwide Holdings, Inc		139
	29,678		ILG, Inc		793
	147,869		InterContinental Hotels Group plc		7,822
	6,202		Marcus Corp		172
	340,179		Marriott International, Inc (Class A)		37,508

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	376,136		McDonald’s Corp	$	58,933
	1,021,495	g	Merlin Entertainments plc		6,096
	100,400		Oriental Land Co Ltd		7,654
	11,262		Royal Caribbean Cruises Ltd		1,335
	7,090		Service Corp International		245
	97,608	*	ServiceMaster Global Holdings, Inc		4,561
	426,000		Shangri-La Asia Ltd		791
	3,560		Six Flags Entertainment Corp		217
	781,044		Starbucks Corp		41,950
	14,512		Vail Resorts, Inc		3,311
	12,240		Wendy’s		190
	150,515		Whitbread plc		7,598
	6,701		Wyndham Worldwide Corp		706
			TOTAL CONSUMER SERVICES		193,409
DIVERSIFIED FINANCIALS - 3.2%
	763,613		3i Group plc		9,349
	90,800	e	AEON Financial Service Co Ltd		1,900
	45,546		Ally Financial, Inc		1,105
	502,120		American Express Co		45,422
	5,017		Ameriprise Financial, Inc		745
	1,444,992		AMP Ltd		5,487
	1,171,358		Annaly Capital Management, Inc		14,279
	766,116		Bank of New York Mellon Corp		40,619
	91,009		BlackRock, Inc		40,689
	890,263		Charles Schwab Corp		38,940
	11,810		Chimera Investment Corp		223
	276,134		CME Group, Inc		37,466
	97,389		Deutsche Boerse AG.		10,574
	481,355		Discover Financial Services		31,038
	31,971		Dynex Capital, Inc		232
	4,490	*	E*TRADE Financial Corp		196
	4,140		Eaton Vance Corp		204
	12,537	*,e	Encore Capital Group, Inc		555
	105,368		EXOR NV		6,687
	7,914		Factset Research Systems, Inc		1,425
	19,507		Franklin Resources, Inc		868
	55,617	*	Green Dot Corp		2,758
	458,537		Hong Kong Exchanges and Clearing Ltd		12,384
	540,664		IntercontinentalExchange Group, Inc		37,144
	10,236		Invesco Ltd		359
	638,089		Investec plc		4,665
	33,731		Investment Technology Group, Inc		747
	2,480		Legg Mason, Inc		98
	129,963		London Stock Exchange Group plc		6,673
	5,410		LPL Financial Holdings, Inc		279
	159,636		Macquarie Group Ltd		11,429
	365,600		Mitsubishi UFJ Lease & Finance Co Ltd		1,940
	910		Morningstar, Inc		77
	867		NASDAQ OMX Group, Inc		67
	919,968		Natixis		7,362
	12,048		NewStar Financial, Inc		141
	127,081		Northern Trust Corp		11,683
	104,012	*	On Deck Capital, Inc		486

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	9,469	*	Pico Holdings, Inc	$	158
	1,210		Raymond James Financial, Inc		102
	88,040		S&P Global, Inc		13,762
	109,355		Schroders plc		4,920
	6,827		SEI Investments Co		417
	1,096,051		Standard Life plc		6,371
	9,450		Starwood Property Trust, Inc		205
	387,456		State Street Corp		37,018
	733		T Rowe Price Group, Inc		66
	6,546		TD Ameritrade Holding Corp		319
	13,074		Voya Financial, Inc		522
	23,058		Wendel		3,735
			TOTAL DIVERSIFIED FINANCIALS		453,890
ENERGY - 3.5%
	112,058		AltaGas Income Trust		2,581
	5,954	b	Andeavor		614
	201,655	*,e	Antero Resources Corp		4,013
	6,550		Apache Corp		300
	178,196	*,e	Atwood Oceanics, Inc		1,673
	256,759		Baker Hughes a GE Co		9,403
	76,260	e	Bristow Group, Inc		713
	3,504		Caltex Australia Ltd		88
	54,089	*,e	CARBO Ceramics, Inc		467
	754,018		Cenovus Energy, Inc (Toronto)		7,560
	218,866	*	Cheniere Energy, Inc		9,858
	1,776		Cimarex Energy Co		202
	175,792	*	Clean Energy Fuels Corp		436
	796	*	Concho Resources, Inc		105
	269,739		ConocoPhillips		13,500
	42,887	*	Continental Resources, Inc		1,656
	101,766		Delek US Holdings, Inc		2,720
	496,926	*,e	Denbury Resources, Inc		666
	284,522		Devon Energy Corp		10,445
	3,010	*	Dril-Quip, Inc		133
	20,051		Enagas		565
	447,604		Enbridge, Inc		18,697
	610,064		EnCana Corp		7,182
	2,011	*	Energen Corp		110
	341,975		EOG Resources, Inc		33,083
	40,526		EQT Corp		2,644
	42,054	*	Exterran Corp		1,329
	51,062	*,e	Fairmount Santrol Holdings, Inc		244
	78,969	*	Forum Energy Technologies, Inc		1,256
	1,520	e	Frank’s International NV		12
	382,818		Galp Energia SGPS S.A.		6,789
	47,174		Green Plains Renewable Energy, Inc		951
	25,112		Hess Corp		1,177
	342,286		Inpex Holdings, Inc		3,646
	920,819		Kinder Morgan, Inc		17,661
	57,666		Koninklijke Vopak NV		2,529
	3,660	*,e	Laredo Petroleum Holdings, Inc		47
	281,323		Marathon Oil Corp		3,815

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	393,673		Marathon Petroleum Corp	$	22,077
	35,997	*	Matrix Service Co		547
	315,075	*	McDermott International, Inc		2,291
	405,205		National Oilwell Varco, Inc		14,478
	16,599	*	Natural Gas Services Group, Inc		471
	106,990		Neste Oil Oyj		4,676
	107,917	*	Newpark Resources, Inc		1,079
	205,015		Noble Energy, Inc		5,814
	478,958		Occidental Petroleum Corp		30,754
	6,080		Oceaneering International, Inc		160
	143,979		OMV AG.		8,394
	66,969		Oneok, Inc		3,711
	180,365	*	Parker Drilling Co		198
	2,120	e	PBF Energy, Inc		59
	36,726	*	PDC Energy, Inc		1,801
	283,066		Pembina Pipeline Income Fund		9,932
	334,050		Phillips 66		30,602
	21,522		Pioneer Natural Resources Co		3,175
	5,210		Range Resources Corp		102
	50,847	*	Renewable Energy Group, Inc		618
	621,462		Repsol YPF S.A.		11,469
	17,609	*	RigNet, Inc		303
	156,019	*	Rowan Cos plc		2,005
	1,480	e	RPC, Inc		37
	580,653		Schlumberger Ltd		40,506
	894	*	SEACOR Holdings, Inc		41
	87,370		SM Energy Co		1,550
	1,430,692		Snam Rete Gas S.p.A.		6,895
	570,732		Statoil ASA		11,474
	478,763		Suncor Energy, Inc		16,779
	88,242	*	Superior Energy Services		942
	341,108		Tenaris S.A.		4,835
	37,026	*	Tesco Corp		202
	244,854	*	Tetra Technologies, Inc		700
	525,782	e	Total S.A.		28,232
	66,590	*	Unit Corp		1,370
	480,295		Valero Energy Corp		36,949
	886,080	*,e	Weatherford International Ltd		4,058
	427,614		Williams Cos, Inc		12,833
	255,028		Woodside Petroleum Ltd		5,840
	4,350		World Fuel Services Corp		147
			TOTAL ENERGY		496,976
FOOD & STAPLES RETAILING - 0.5%
	179,300		Aeon Co Ltd		2,650
	17,193		Alimentation Couche Tard, Inc		784
	241,585		Carrefour S.A.		4,877
	74,178		Casey’s General Stores, Inc		8,119
	46,095		Casino Guichard Perrachon S.A.		2,734
	41,504	*	Chefs’ Warehouse Holdings, Inc		801
	12,016	e	Colruyt S.A.		616
	612,987		J Sainsbury plc		1,954
	69,935		Koninklijke Ahold Delhaize NV		1,307
	20,898		Loblaw Cos Ltd		1,141

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	147,990	*	Metro Wholesale & Food Specialist AG.	$	3,128
	21,140	*,e	Natural Grocers by Vitamin C		118
	64,899	*	Performance Food Group Co		1,833
	26,111		Pricesmart, Inc		2,330
	165,300		Seven & I Holdings Co Ltd		6,386
	53,243	*	Smart & Final Stores, Inc		418
	48,144		Spartan Stores, Inc		1,270
	256,090	*	Sprouts Farmers Market, Inc		4,807
	4,438,693	*	Tesco plc		11,131
	64,657	*	United Natural Foods, Inc		2,689
	316,257	*	US Foods Holding Corp		8,444
	12,906		Weis Markets, Inc		561
	250,912		Wesfarmers Ltd		8,146
	459,754		WM Morrison Supermarkets plc		1,442
			TOTAL FOOD & STAPLES RETAILING		77,686
FOOD, BEVERAGE & TOBACCO - 2.6%
	414,000		Ajinomoto Co, Inc		8,079
	243,312		Associated British Foods plc		10,417
	37,326		Bunge Ltd		2,593
	15,536		Campbell Soup Co		727
	467,456		Coca-Cola Amatil Ltd		2,838
	1,549,835		Coca-Cola Co		69,758
	163,872		Coca-Cola European Partners plc		6,871
	218,407		Coca-Cola HBC AG.		7,395
	207,653		Dr Pepper Snapple Group, Inc		18,371
	10,690	e	Flowers Foods, Inc		201
	19,775	*,e	Freshpet, Inc		310
	448,608		General Mills, Inc		23,220
	192,855		Groupe Danone		15,148
	5,050	*	Hain Celestial Group, Inc		208
	87,366		Hormel Foods Corp		2,808
	114,320		Kellogg Co		7,130
	97,128		Kerry Group plc (Class A)		9,321
	121,200		Kikkoman Corp		3,724
	429,134		Kraft Heinz Co		33,279
	848		Lindt & Spruengli AG.		4,838
	85		Lindt & Spruengli AG. (Registered)		5,898
	10,151		McCormick & Co, Inc		1,042
	972,857		Mondelez International, Inc		39,556
	47,900		Nissin Food Products Co Ltd		2,910
	29,443		Omega Protein Corp		490
	455,798		Orkla ASA		4,677
	53,130		PAN Fish ASA		1,051
	586,683		PepsiCo, Inc		65,374
	8,356	*	Seneca Foods Corp		288
	135,400		Suntory Beverage & Food Ltd		6,023
	445,343		Tate & Lyle plc		3,867
	72,400	e	Yakult Honsha Co Ltd		5,210
			TOTAL FOOD, BEVERAGE & TOBACCO		363,622
HEALTH CARE EQUIPMENT & SERVICES - 2.4%
	13,468		Abaxis, Inc		601

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,970	*	Abiomed, Inc	$	332
	74,297	*,e	Acadia Healthcare Co, Inc		3,548
	39,666	*	Accuray, Inc		159
	13,529		Aceto Corp		152
	117,481	*	Alere, Inc		5,990
	18,400		Alfresa Holdings Corp		337
	9,654	*	Align Technology, Inc		1,798
	91,016	*	Allscripts Healthcare Solutions, Inc		1,295
	36,444	*	Amedisys, Inc		2,039
	216,419		AmerisourceBergen Corp		17,909
	40,869	*	AMN Healthcare Services, Inc		1,868
	12,558		Analogic Corp		1,052
	35,222	*	Angiodynamics, Inc		602
	204,737		Anthem, Inc		38,876
	52,066	*,e	athenahealth, Inc		6,475
	32,319	*	AtriCure, Inc		723
	190,253		Becton Dickinson & Co		37,280
	41,628	*	Brookdale Senior Living, Inc		441
	31,810	*,e	Capital Senior Living Corp		399
	363,931		Cardinal Health, Inc		24,354
	25,145	*	Cardiovascular Systems, Inc		708
	140,579	*	Centene Corp		13,604
	79,050	*,e	Cerus Corp		216
	188,415		Cigna Corp		35,222
	85,419		Coloplast AS		6,945
	14,582	e	Computer Programs & Systems, Inc		431
	4,570	*	Corvel Corp		249
	25,039	*	Cross Country Healthcare, Inc		356
	8,556		Dentsply Sirona, Inc		512
	49,980	*	Diplomat Pharmacy, Inc		1,035
	266,004	*	Edwards Lifesciences Corp		29,077
	105,895	*,e	Endologix, Inc		472
	144,368	*	Envision Healthcare Corp		6,489
	91,010		Essilor International S.A.		11,280
	52,788	*	GenMark Diagnostics, Inc		508
	4,374	*	Haemonetics Corp		196
	4,069	*	HCA Holdings, Inc		324
	1,416,269		Healthscope Ltd		1,859
	9,462	*	HealthStream, Inc		221
	49,796	*	Henry Schein, Inc		4,083
	10,561	*	HMS Holdings Corp		210
	96,706	*	Hologic, Inc		3,548
	53,134		Humana, Inc		12,945
	1,357	*	Idexx Laboratories, Inc		211
	39,783	*	Integer Holding Corp		2,035
	7,314		Kindred Healthcare, Inc		50
	330,962		Koninklijke Philips Electronics NV		13,656
	8,310	*	Laboratory Corp of America Holdings		1,255
	11,783		Landauer, Inc		793
	19,312	*	LHC Group, Inc		1,370
	49,348	*	LifePoint Hospitals, Inc		2,857
	624,813	e	Mediclinic International plc		5,442
	1,474	*	Medidata Solutions, Inc		115
	2,230	*	MEDNAX, Inc		96

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	35,601	*	Merit Medical Systems, Inc	$	1,508
	41,964	*	NxStage Medical, Inc		1,158
	46,381	*	Omnicell, Inc		2,368
	70,523	*	OraSure Technologies, Inc		1,587
	30,977		Patterson Cos, Inc		1,197
	38,489	*	PharMerica Corp		1,128
	2,830	*	Premier, Inc		92
	15,337	*	Providence Service Corp		829
	42,933	*	Quality Systems, Inc		675
	12,391		Quest Diagnostics, Inc		1,160
	23,328	*	Quidel Corp		1,023
	115,938		Ramsay Health Care Ltd		5,673
	4,542		Resmed, Inc		350
	302,847		Ryman Healthcare Ltd		2,029
	75,106	*	Select Medical Holdings Corp		1,442
	42,474	*	Staar Surgical Co		529
	10,800		Suzuken Co Ltd		384
	96,000		Sysmex Corp		6,134
	31,845	*	Teladoc, Inc		1,056
	19,606	*	Tivity Health, Inc		800
	5,928	*	Triple-S Management Corp (Class B)		140
	16,067		US Physical Therapy, Inc		987
	5,250	*	Varian Medical Systems, Inc		525
	32,132	*	Vocera Communications, Inc		1,008
	3,560		West Pharmaceutical Services, Inc		343
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		338,725
HOUSEHOLD & PERSONAL PRODUCTS - 1.4%
	3,160		Clorox Co		417
	255,818		Colgate-Palmolive Co		18,636
	1,620		Energizer Holdings, Inc		75
	5,829		Estee Lauder Cos (Class A)		629
	46,998		Henkel KGaA		5,723
	59,767		Henkel KGaA (Preference)		8,143
	180,451		Kimberly-Clark Corp		21,235
	52,089		L’Oreal S.A.		11,045
	1,113		Medifast, Inc		66
	10,538	e	Natural Health Trends Corp		252
	4,530		Nu Skin Enterprises, Inc (Class A)		278
	915,310		Procter & Gamble Co		83,275
	183,078		Reckitt Benckiser Group plc		16,727
	283,430		Unilever NV		16,754
	344,476		Unilever plc		19,938
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		203,193
INSURANCE - 2.9%
	1,414,813		Aegon NV		8,247
	425,702		Aflac, Inc		34,648
	110,733		Allianz AG.		24,869
	21,500		Allstate Corp		1,976
	195,940		American International Group, Inc		12,029
	14,820		Aon plc		2,165
	4,310	*	Arch Capital Group Ltd		425

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	6,590		Arthur J. Gallagher & Co	$	406
	78,412		Aspen Insurance Holdings Ltd		3,168
	485,960		Assicurazioni Generali S.p.A.		9,064
	3,580		Assurant, Inc		342
	1,721,855		Aviva plc		11,884
	578,120		AXA S.A.		17,478
	74,779		Axis Capital Holdings Ltd		4,286
	287,657		Chubb Ltd		41,005
	164,882		CNP Assurances		3,865
	11,216		Employers Holdings, Inc		510
	1,310		First American Financial Corp		65
	281,297		Hartford Financial Services Group, Inc		15,592
	3,077,743		Legal & General Group plc		10,727
	10,590		Loews Corp		507
	445,968		Marsh & McLennan Cos, Inc		37,377
	61,812		Muenchener Rueckver AG.		13,229
	109,100		NKSJ Holdings, Inc		4,252
	3,701,950		Old Mutual plc		9,643
	13,239		Principal Financial Group		852
	212,157		Progressive Corp		10,273
	344,409		Prudential Financial, Inc		36,618
	737,233		Prudential plc		17,642
	9,028		Reinsurance Group of America, Inc (Class A)		1,260
	42,804		RenaissanceRe Holdings Ltd		5,784
	209,543		RSA Insurance Group plc		1,751
	643		Stewart Information Services Corp		24
	132,125		Swiss Re Ltd		11,976
	89,400		T&D Holdings, Inc		1,297
	282,469		Travelers Cos, Inc		34,608
	1,467		Willis Towers Watson plc		226
	49,597		Zurich Financial Services AG.		15,156
			TOTAL INSURANCE		405,226
MATERIALS - 3.3%
	109,267		Agnico-Eagle Mines Ltd		4,938
	45,381		Agrium, Inc		4,863
	125,032		Air Liquide		16,674
	153,248		Air Products & Chemicals, Inc		23,174
	63,469		Akzo Nobel NV		5,854
	563		Albemarle Corp		77
	3,090		Aptargroup, Inc		267
	162,000		Asahi Kasei Corp		1,996
	46,422		Avery Dennison Corp		4,565
	12,360	*	Axalta Coating Systems Ltd		357
	129,090		Ball Corp		5,331
	224,582		BASF SE		23,926
	5,860		Bemis Co, Inc		267
	542,571		BlueScope Steel Ltd		4,687
	249,113		Boliden AB		8,450
	7,263		Celanese Corp (Series A)		757
	2,372	*	Clearwater Paper Corp		117
	125,429		Commercial Metals Co		2,387
	2,080	e	Compass Minerals International, Inc		135
	61,457		CRH plc		2,338

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	38,958		Croda International plc	$	1,981
	3,930		Domtar Corp		171
	5,941		DSM NV		486
	41,099		Eastman Chemical Co		3,719
	270,720		Ecolab, Inc		34,817
	104,881		Evonik Industries AG.		3,750
	5,690	*	Ferro Corp		127
	121,063		Fletcher Building Ltd		700
	72,672	*,e	Flotek Industries, Inc		338
	60,932		Franco-Nevada Corp		4,720
	5,005		Givaudan S.A.		10,896
	3,382		Hawkins, Inc		138
	100,876		HeidelbergCement AG.		10,381
	285,000		Hitachi Metals Ltd		3,972
	201,401		Holcim Ltd		11,791
	12,128		Innophos Holdings, Inc		597
	3,960		International Flavors & Fragrances, Inc		566
	201,040		International Paper Co		11,423
	157,971		Johnson Matthey plc		7,244
	193,461	*	Kinross Gold Corp		820
	256,700	e	Kobe Steel Ltd		2,940
	39,288	*	Kraton Polymers LLC		1,589
	59,233	*	Louisiana-Pacific Corp		1,604
	256,430		LyondellBasell Industries AF S.C.A		25,399
	26,494		Materion Corp		1,143
	36,779		Minerals Technologies, Inc		2,598
	109,199		Mitsubishi Materials Corp		3,782
	152,392		Mitsui Chemicals, Inc		4,635
	77,471		Mondi plc		2,083
	106,954		Mosaic Co		2,309
	5,405		Myers Industries, Inc		113
	363,087		Newcrest Mining Ltd		5,976
	28,700		Nitto Denko Corp		2,394
	1,217,504		Norsk Hydro ASA		8,884
	411,185		Nucor Corp		23,043
	411,806	e	Potash Corp of Saskatchewan		7,928
	13,329		PPG Industries, Inc		1,448
	261,274		Praxair, Inc		36,510
	13,371		Reliance Steel & Aluminum Co		1,018
	84,773		Royal Gold, Inc		7,294
	13,575		Schnitzer Steel Industries, Inc (Class A)		382
	1,660		Scotts Miracle-Gro Co (Class A)		162
	17,667		Sealed Air Corp		755
	51,825		Sherwin-Williams Co		18,555
	147,000		Shin-Etsu Chemical Co Ltd		13,157
	594		Sika AG.		4,423
	6,170		Sonoco Products Co		311
	3,831,566		South32 Ltd		9,912
	86,932		Stora Enso Oyj (R Shares)		1,230
	1,297,000		Sumitomo Chemical Co Ltd		8,114
	225,500		Sumitomo Metal Mining Co Ltd		7,260
	75,666	*	Summit Materials, Inc		2,424
	408,659		Teck Cominco Ltd		8,604

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	9,000		Toray Industries, Inc	$	87
	35,484		Trinseo S.A.		2,381
	77,066		Umicore		6,380
	163,079		UPM-Kymmene Oyj		4,425
	19,003	*,e	US Concrete, Inc		1,450
	170,622		WestRock Co		9,679
	58,714	*	Worthington Industries, Inc		2,701
			TOTAL MATERIALS		464,879
MEDIA - 1.5%
	180		Cable One, Inc		130
	111,822	*	Charter Communications, Inc		40,638
	1,299		Cinemark Holdings, Inc		47
	89,987		Clear Channel Outdoor Holdings, Inc (Class A)		419
	49,500		Dentsu, Inc		2,175
	210,586	*,e	Discovery Communications, Inc (Class A)		4,483
	280,302	*	Discovery Communications, Inc (Class C)		5,679
	33,882	e	Entercom Communications Corp (Class A)		388
	84,634		Entravision Communications Corp (Class A)		482
	85,122	*	Gray Television, Inc		1,336
	526,783		ITV plc		1,234
	9,368		JC Decaux S.A.		351
	12,369		John Wiley & Sons, Inc (Class A)		662
	4,448	*	Liberty Global plc		146
	2,960	*	Liberty Global plc (Class A)		100
	162,213		New York Times Co (Class A)		3,179
	475,703		Pearson plc		3,901
	140,506		ProSiebenSat. Media AG.		4,795
	3,689		Reed Elsevier NV		79
	528,996		Reed Elsevier plc		11,610
	5,020	e	Regal Entertainment Group (Class A)		80
	1,550		Scholastic Corp		58
	36,026		Scripps Networks Interactive (Class A)		3,094
	82,171		Shaw Communications, Inc (B Shares)		1,891
	57,685	e	Sinclair Broadcast Group, Inc (Class A)		1,849
	616,899		Sky plc		7,568
	460,805		Time Warner, Inc		47,209
	212,730		Vivendi Universal S.A.		5,389
	618,321		Walt Disney Co		60,948
	553,504		WPP plc		10,271
			TOTAL MEDIA		220,191
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.2%
	31,121	*	Acadia Pharmaceuticals, Inc		1,172
	220,679		Agilent Technologies, Inc		14,168
	70,341	*	Akorn, Inc		2,335
	328,512		Amgen, Inc		61,251
	919,614		Astellas Pharma, Inc		11,704
	56,333	*,e	Bellicum Pharmaceuticals, Inc		651
	148,783	*	BioCryst Pharmaceuticals, Inc		780
	103,107	*	Biogen Idec, Inc		32,285
	2,804	*	BioMarin Pharmaceutical, Inc		261
	1,820		Bio-Techne Corp		220
	6,417	*	Bluebird Bio, Inc		881

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	864,023		Bristol-Myers Squibb Co	$	55,073
	5,210		Bruker BioSciences Corp		155
	374,526	*	Celgene Corp		54,613
	63,613	*	Celldex Therapeutics, Inc		182
	59,178	*	Cempra, Inc		192
	54,091	*	Chimerix, Inc		284
	184,697		Chugai Pharmaceutical Co Ltd		7,675
	28,708	*	Coherus Biosciences, Inc		383
	133,425	*	Depomed, Inc		773
	57,100		Eisai Co Ltd		2,932
	42,707	*	Genmab AS		9,444
	628,247		Gilead Sciences, Inc		50,901
	1,167,125		GlaxoSmithKline plc		23,332
	7,414	*,e	Immunomedics, Inc		104
	34,337	*	Intersect ENT, Inc		1,070
	18,409	*,e	Intra-Cellular Therapies, Inc		291
	50,224	*	Iovance Biotherapeutics, Inc		389
	837,309		Johnson & Johnson		108,858
	127,000		Kyowa Hakko Kogyo Co Ltd		2,164
	40,206		Lonza Group AG.		10,565
	1,109,400		Merck & Co, Inc		71,035
	84,518		Merck KGaA		9,413
	9,381	e	Merrimack Pharmaceuticals, Inc		136
	1,399	*	Mettler-Toledo International, Inc		876
	133,537	*,e	MiMedx Group, Inc		1,586
	162,598	*	Nektar Therapeutics		3,902
	453,899		Novartis AG.		38,933
	458,096		Novo Nordisk AS		22,025
	35,019	*,e	Opko Health, Inc		240
	72,399	*,e	Organovo Holdings, Inc		161
	86,402		Orion Oyj (Class B)		4,012
	8,147		PerkinElmer, Inc		562
	46,519	*	Prestige Brands Holdings, Inc		2,330
	160,718	*,e	Progenics Pharmaceuticals, Inc		1,183
	179,666	*	QIAGEN NV		5,679
	101,619	*	Quintiles Transnational Holdings, Inc		9,661
	567	*	Repligen Corp		22
	144,681		Roche Holding AG.		36,983
	60,101	*	Sangamo Biosciences, Inc		902
	99,000		Shionogi & Co Ltd		5,412
	31,531	*,e	Sucampo Pharmaceuticals, Inc (Class A)		372
	252,785		Takeda Pharmaceutical Co Ltd		13,978
	16,323	*	TESARO, Inc		2,107
	24,808	*,e	Theravance Biopharma, Inc		849
	103,962	*	Vertex Pharmaceuticals, Inc		15,806
	6,410	*	VWR Corp		212
	4,055	*	Waters Corp		728
	559,747		Zoetis, Inc		35,690
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		739,883
REAL ESTATE - 2.3%
	15,548	*,e	Altisource Portfolio Solutions S.A.		402
	103,765		American Campus Communities, Inc		4,581

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	284,479		American Tower Corp	$	38,883
	4,180		Apple Hospitality REIT, Inc		79
	118,049		Boston Properties, Inc		14,506
	4,380		Brandywine Realty Trust		77
	805,154		British Land Co plc		6,501
	203,775		Brixmor Property Group, Inc		3,831
	2,116,749		CapitaLand Ltd		5,601
	22,331		CatchMark Timber Trust Inc		282
	161,988	*	CBRE Group, Inc		6,136
	245,900		City Developments Ltd		2,061
	82,891		Columbia Property Trust, Inc		1,805
	35,170		Coresite Realty		3,935
	313,000		Daiwa House Industry Co Ltd		10,812
	160,987		Duke Realty Corp		4,640
	42,336		Easterly Government Properties, Inc		875
	58,981		Equinix, Inc		26,323
	6,190	*	Equity Commonwealth		188
	75,264		First Potomac Realty Trust		838
	177,690		Forest City Realty Trust, Inc		4,533
	224,600		Global Logistic Properties		547
	590,981		Hammerson plc		4,255
	661,000		Hang Lung Properties Ltd		1,574
	313,953		HCP, Inc		8,737
	724,900		Henderson Land Development Co Ltd		4,822
	361,129		Host Marriott Corp		6,677
	25,528	*	Howard Hughes Corp		3,010
	94,670		Hysan Development Co Ltd		447
	945		Iron Mountain, Inc		37
	40,680	*	iStar Financial, Inc		480
	490		Jones Lang LaSalle, Inc		60
	495,014		Land Securities Group plc		6,456
	90,335		Lend Lease Corp Ltd		1,273
	3,720		Liberty Property Trust		153
	61,621		Macerich Co		3,387
	587,400		Mitsubishi Estate Co Ltd		10,209
	461,710		Mitsui Fudosan Co Ltd		10,011
	17		Nippon ProLogis REIT, Inc		36
	59,300		Nomura Real Estate Holdings, Inc		1,265
	71,768		NorthStar Realty Europe Corp		919
	108,203		Paramount Group, Inc		1,731
	22,842		Parkway, Inc		526
	7,340		Piedmont Office Realty Trust, Inc		148
	400,776		Prologis, Inc		25,433
	36,640		QTS Realty Trust, Inc		1,918
	6,220		Rayonier, Inc		180
	3,556		RMR Group, Inc		183
	157		Ryman Hospitality Properties		10
	118,031	*	SBA Communications Corp		17,002
	284,290		Scentre Group		878
	310,801		Segro plc		2,235
	46,895		Senior Housing Properties Trust		917
	150,700		Shoei Co Ltd		1,478
	416,000		Swire Pacific Ltd (Class A)		4,050
	974,400		Swire Properties Ltd		3,309

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	2,845	*	Tejon Ranch Co	$	60
	62,244		Tier REIT, Inc		1,201
	12,000		Tokyu Fudosan Holdings Corp		72
	347,148		UDR, Inc		13,202
	40,112		Unibail-Rodamco		9,761
	113,975		Vornado Realty Trust		8,762
	426,686		Welltower, Inc		29,987
	1,409		Weyerhaeuser Co		48
			TOTAL REAL ESTATE		324,335
RETAILING - 2.2%
	50,109	*	1-800-FLOWERS.COM, Inc (Class A)		494
	4,585		Advance Auto Parts, Inc		455
	5,680	*,e	Autonation, Inc		269
	145,797		Best Buy Co, Inc		8,305
	26,039		Caleres, Inc		795
	86,068	*,e	Carmax, Inc		6,525
	3,200		Dick’s Sporting Goods, Inc		86
	378,390		Dollar General Corp		30,668
	23,000		Fast Retailing Co Ltd		6,784
	11,800		Foot Locker, Inc		416
	39,731	*	FTD Cos, Inc		518
	187,286		Gap, Inc		5,530
	26,485		Group 1 Automotive, Inc		1,919
	773,164	*	Groupon, Inc		4,020
	25,226		Haverty Furniture Cos, Inc		660
	186,825		Hennes & Mauritz AB (B Shares)		4,853
	40,709		HSN, Inc		1,590
	370,513		Industria De Diseno Textil S.A.		13,968
	82,400		Jardine Cycle & Carriage Ltd		2,398
	31,697		Kering		12,627
	22,653		Kingfisher plc		91
	20,812	*	Kirkland’s, Inc		238
	236,458	e	Kohl’s Corp		10,794
	31,188	*,e	Lands’ End, Inc		412
	4,807,620		Li & Fung Ltd		2,417
	24,483	*	LKQ Corp		881
	550,859		Lowe’s Companies, Inc		44,036
	30,764	*	MarineMax, Inc		509
	342,665		Marks & Spencer Group plc		1,622
	2,400	e	Marui Co Ltd		34
	248,741	*	NetFlix, Inc		45,109
	31,269		Next plc		2,204
	8,701		Nordstrom, Inc		410
	53,198		Nutri/System, Inc		2,974
	663,706		Office Depot, Inc		3,013
	29,283	*	Overstock.com, Inc		870
	26,265	e	PetMed Express, Inc		871
	25,210	*	Priceline.com, Inc		46,155
	310,579		Ross Stores, Inc		20,054
	12,780	*	Sally Beauty Holdings, Inc		250
	15,085		Shoe Carnival, Inc		338
	44,115	*	Shutterfly, Inc		2,139

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	4,914	e	Signet Jewelers Ltd	$	327
	7,520		Tiffany & Co		690
	15,696		Tile Shop Holdings, Inc		199
	4,198		Tractor Supply Co		266
	62,150	*	Ulta Beauty, Inc		14,050
	27,648	*	Vitamin Shoppe, Inc		148
	76,182	*,e	Wayfair, Inc		5,135
	5,490	e	Williams-Sonoma, Inc		274
			TOTAL RETAILING		309,390
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.8%
	5,058		Analog Devices, Inc		436
	810,247		Applied Materials, Inc		42,206
	104,896		ASML Holding NV		17,924
	14,878	*	Cirrus Logic, Inc		793
	1,818,697		Intel Corp		69,256
	26,471		Lam Research Corp		4,898
	30,220		Marvell Technology Group Ltd		541
	4,036		Microchip Technology, Inc		362
	292,743		NVIDIA Corp		52,333
	66,208	*	ON Semiconductor Corp		1,223
	128,446		Skyworks Solutions, Inc		13,089
	136,847	*,e	SunPower Corp		998
	512,025		Texas Instruments, Inc		45,898
	75,700		Tokyo Electron Ltd		11,654
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		261,611
SOFTWARE & SERVICES - 6.0%
	349,856		Accenture plc		47,255
	39,594	*	Actua Corp		606
	79,659	*	Alphabet, Inc (Class A)		77,566
	84,809	*	Alphabet, Inc (Class C)		81,341
	70,115		Amadeus IT Holding S.A.		4,560
	6,607	*	Ansys, Inc		811
	33,375	*	Autodesk, Inc		3,747
	336,734		Automatic Data Processing, Inc		36,812
	69,563	*,e	Black Knight Financial Services, Inc		2,995
	27,736		Blackbaud, Inc		2,435
	7,030		Booz Allen Hamilton Holding Co		263
	28,157	*	Brightcove, Inc		203
	26,494		CA, Inc		884
	83,357		Cap Gemini S.A.		9,771
	126,574	*	CGI Group, Inc		6,563
	53,312	*,e	Cimpress NV		5,206
	9,135	*	Citrix Systems, Inc		702
	524,237		Cognizant Technology Solutions Corp (Class A)		38,028
	19,152		Convergys Corp		496
	28,146		CSG Systems International, Inc		1,129
	2,810		CSRA, Inc		91
	3,842	*	Dell Technologies, Inc-VMware Inc		297
	2,480		DST Systems, Inc		136
	41,722	*	Ellie Mae, Inc		3,427
	139,374	*	Etsy, Inc		2,353

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	15,455	*	Euronet Worldwide, Inc	$	1,465
	1,924		Forrester Research, Inc		81
	1,018,000		Fujitsu Ltd		7,577
	39,817	*,e	Gogo, Inc		470
	395,957		International Business Machines Corp		57,445
	174,977		Intuit, Inc		24,871
	60,212		j2 Global, Inc		4,448
	67,844		LogMeIn, Inc		7,466
	5,382	*	Manhattan Associates, Inc		224
	430,015		MasterCard, Inc (Class A)		60,718
	2,096,022		Microsoft Corp		156,133
	18,817	*	MINDBODY, Inc		486
	29,149	*	New Relic, Inc		1,452
	93,650		Open Text Corp		3,022
	1,204,035		Oracle Corp		58,215
	44,472	*	Perficient, Inc		875
	5,650	*	PTC, Inc		318
	36,105	*	Qualys, Inc		1,870
	83,541	*	Quotient Technology, Inc		1,307
	76,390	*	RingCentral, Inc		3,189
	455,769	*	salesforce.com, Inc		42,578
	232,976		SAP AG.		25,545
	194,307	*	ServiceSource International LLC		672
	21,993	*	SPS Commerce, Inc		1,247
	68,035	*	Square, Inc		1,960
	21,303	*	Sykes Enterprises, Inc		621
	862,529		Symantec Corp		28,300
	12,352		Syntel, Inc		243
	29,779	*	Teradata Corp		1,006
	7,887		TiVo Corp		157
	43,728	*,e	Twilio, Inc		1,305
	25,962	*	Ultimate Software Group, Inc		4,922
	36,283	*	Vasco Data Security International		437
	49,721	*	Website Pros, Inc		1,243
	46,010		Western Union Co		883
	970	*	WEX, Inc		109
	157,813	*	Workday, Inc		16,632
			TOTAL SOFTWARE & SERVICES		847,169
TECHNOLOGY HARDWARE & EQUIPMENT - 2.1%
	37,861	*	Anixter International, Inc		3,218
	25,108		Badger Meter, Inc		1,230
	4,043		Belden CDT, Inc		326
	64,501	*	Benchmark Electronics, Inc		2,203
	54,538	*	Calix, Inc		275
	1,979,847		Cisco Systems, Inc		66,582
	110,896		Cognex Corp		12,230
	31,515	*	Coherent, Inc		7,411
	22,719		Comtech Telecommunications Corp		467
	527,947		Corning, Inc		15,796
	94,354	*	Cray, Inc		1,835
	27,237		CTS Corp		656
	39,009		Daktronics, Inc		412

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	70,617		Dolby Laboratories, Inc (Class A)	$	4,062
	828,854		Ericsson (LM) (B Shares)		4,778
	67,947	*	Fabrinet		2,518
	25,626	*	FARO Technologies, Inc		980
	94,427	*	Finisar Corp		2,094
	8,777	*	Flex Ltd		146
	157,700		Fujifilm Holdings Corp		6,127
	1,032,298		Hewlett Packard Enterprise Co		15,185
	1,743,788		HP, Inc		34,806
	11,132	*	Insight Enterprises, Inc		511
	39,327	*	IPG Photonics Corp		7,278
	31,249	*	Itron, Inc		2,420
	238,912		Jabil Circuit, Inc		6,821
	29,800		Keyence Corp		15,850
	10,620	*	Keysight Technologies, Inc		443
	34,382	*	Kimball Electronics, Inc		744
	238,300		Konica Minolta Holdings, Inc		1,958
	148,000		Kyocera Corp		9,186
	37,090		Methode Electronics, Inc		1,571
	194,021		Motorola, Inc		16,467
	3,868		MTS Systems Corp		207
	79,700		Murata Manufacturing Co Ltd		11,733
	15,597		National Instruments Corp		658
	91,682		NEC Corp		2,487
	14,425	*	Netgear, Inc		687
	13,605	*	Novanta, Inc		593
	58,800		Omron Corp		2,998
	7,653	*	OSI Systems, Inc		699
	14,729	*	Plexus Corp		826
	23,545	*	Rogers Corp		3,138
	22,741	*	Sanmina Corp		845
	32,127	*	Scansource, Inc		1,402
	64,222	*	Sonus Networks, Inc		491
	88,477	*	Super Micro Computer, Inc		1,955
	1,417		SYNNEX Corp		179
	39,200		TDK Corp		2,664
	5,142		TE Connectivity Ltd		427
	61,221	*	Tech Data Corp		5,440
	36,773	*	Trimble Navigation Ltd		1,443
	94,294	*	TTM Technologies, Inc		1,449
	54,064		Universal Display Corp		6,966
	322,966		Xerox Corp		10,752
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		304,625
TELECOMMUNICATION SERVICES - 1.5%
	47,941	*	Boingo Wireless, Inc		1,024
	3,212,452		BT Group plc		12,218
	733,368	e	CenturyLink, Inc		13,861
	55,858	*	Cincinnati Bell, Inc		1,109
	5,030		Consolidated Communications Holdings, Inc		96
	748,688		France Telecom S.A.		12,259
	35,024	*	General Communication, Inc (Class A)		1,429
	23,363		IDT Corp (Class B)		329
	109,486	*,e	Iridium Communications, Inc		1,128

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	574,432		KDDI Corp	$	15,142
	172,716	*	Level 3 Communications, Inc		9,204
	23,855	*	Lumos Networks Corp		427
	537,000		NTT DoCoMo, Inc		12,274
	179,616	e	Rogers Communications, Inc (Class B)		9,262
	25,635		Shenandoah Telecom Co		954
	3,930,500		Singapore Telecommunications Ltd		10,685
	859,476	*	Sprint Corp		6,687
	18,950		Swisscom AG.		9,716
	143,396		TeliaSonera AB		676
	1,532,046		Telstra Corp Ltd		4,197
	12,857		TELUS Corp		462
	1,514,170		Verizon Communications, Inc		74,936
	6,972,000		Vodafone Group plc		19,523
			TOTAL TELECOMMUNICATION SERVICES		217,598
TRANSPORTATION - 1.7%
	15,957		Aeroports de Paris		2,580
	9,300		All Nippon Airways Co Ltd		352
	80		Amerco, Inc		30
	12,475		Arkansas Best Corp		417
	306,566		Auckland International Airport Ltd		1,427
	95,565	*	Avis Budget Group, Inc		3,637
	218,971		Canadian National Railway Co		18,142
	62,700		Central Japan Railway Co		11,003
	5,220		CH Robinson Worldwide, Inc		397
	229,394		CSX Corp		12,447
	132,509		Delta Air Lines, Inc		6,390
	325,841		Deutsche Post AG.		14,524
	132,300		East Japan Railway Co		12,212
	20,721	*	Echo Global Logistics, Inc		391
	11,295		Expeditors International of Washington, Inc		676
	33,952		Fraport AG. Frankfurt Airport Services Worldwide		3,227
	320	*	Genesee & Wyoming, Inc (Class A)		24
	89,350	*,e	Hertz Global Holdings, Inc		1,998
	4,347		Kansas City Southern Industries, Inc		472
	723		Kuehne & Nagel International AG.		134
	2,620		Landstar System, Inc		261
	65,400		Mitsui OSK Lines Ltd		1,984
	1,232,302		MTR Corp		7,215
	23,079		Nippon Yusen Kabushiki Kaisha		480
	26,580		Norfolk Southern Corp		3,515
	1,960		Ryder System, Inc		166
	591,829		Southwest Airlines Co		33,131
	2,560	*	Spirit Airlines, Inc		86
	14,066		Sydney Airport		79
	98,500		Tokyu Corp		1,395
	612,270		Transurban Group (ASE)		5,718
	427,785		Union Pacific Corp		49,610
	371,822		United Parcel Service, Inc (Class B)		44,652
	200		West Japan Railway Co		14
	23,313	*	YRC Worldwide, Inc		322
			TOTAL TRANSPORTATION		239,108

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
UTILITIES - 1.9%
	24,930		AES Corp	$	275
	82,327		AGL Energy Ltd		1,512
	8,540		Alliant Energy Corp		355
	42,012		American Water Works Co, Inc		3,399
	528,314		APA Group		3,466
	30,410		Atco Ltd		1,116
	46,554		Canadian Utilities Ltd		1,446
	305,189		Centerpoint Energy, Inc		8,915
	970,500		CLP Holdings Ltd		9,964
	11,161		CMS Energy Corp		517
	299,971		Consolidated Edison, Inc		24,202
	270,264		Dominion Resources, Inc		20,791
	77,661		Edison International		5,993
	10,425		Energias de Portugal S.A.		39
	207,145		Eversource Energy		12,520
	106,759		Fortis, Inc		3,831
	59,506		Gas Natural SDG S.A.		1,318
	5,269,589		Hong Kong & China Gas Ltd		9,930
	1,878,584		Iberdrola S.A.		14,607
	4,940		MDU Resources Group, Inc		128
	19,652	*	Meridian Energy Ltd		40
	1,138,726		National Grid plc		14,104
	20,290		NiSource, Inc		519
	20,000		Osaka Gas Co Ltd		372
	4,160		Pinnacle West Capital Corp		352
	272,079		Public Service Enterprise Group, Inc		12,584
	557,219		Scottish & Southern Energy plc		10,427
	244,506		Sempra Energy		27,905
	35,973		South Jersey Industries, Inc		1,242
	600,977		Southern Co		29,532
	303,357		Suez Environnement S.A.		5,539
	32,615		Terna Rete Elettrica Nazionale S.p.A.		191
	192,958		Tokyo Gas Co Ltd		4,725
	562,586		United Utilities Group plc		6,442
	1,020		Vectren Corp		67
	170,111		WEC Energy Group, Inc		10,679
	320,495		Xcel Energy, Inc		15,166
			TOTAL UTILITIES		264,210
			TOTAL COMMON STOCKS		8,479,718
			(Cost $6,108,664)
PREFERRED STOCKS - 0.2%
BANKS - 0.2%
	233,115	*	Federal Home Loan Mortgage Corp		1,592
	740,991	*	Federal National Mortgage Association		5,165
	14,500	*	M&T Bank Corp		16,167
			TOTAL BANKS		22,924
			TOTAL PREFERRED STOCKS		22,924
			(Cost $38,865)

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 1.5%
GOVERNMENT AGENCY DEBT - 0.1%
$	10,805,000		Federal Home Loan Bank (FHLB)		0.700	%	10/02/17	$	10,805
			TOTAL GOVERNMENT AGENCY DEBT						10,805
TREASURY DEBT - 0.2%
	2,300,000		United States Treasury Bill		0.932		10/26/17		2,299
	29,000,000		United States Treasury Bill		0.983		11/30/17		28,953
			TOTAL TREASURY DEBT						31,252
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.2%
	171,424,400	c	State Street Navigator Securities Lending Government Money Market Portfolio						171,424
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						171,424
			TOTAL SHORT-TERM INVESTMENTS						213,481
			(Cost $213,480)
			TOTAL INVESTMENTS - 100.5%						14,249,151
			(Cost $11,832,840)
			OTHER ASSETS & LIABILITIES, NET - (0.5)%						(78,986	)
			NET ASSETS - 100.0%					$	14,170,165

	Abbreviation(s):
	LIBOR	London Interbank Offered Rate
	M	Month
	REIT	Real Estate Investment Trust
^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
b	In bankruptcy
c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $166,019,000.
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 9/30/17, the aggregate value of these securities was $952,724,000 or 6.7% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the 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.

390

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND

MONEY MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2017

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 99.7%
GOVERNMENT AGENCY DEBT - 64.1%
$	2,031,000	Federal Agricultural Mortgage Corp (FAMC)		1.030	%	10/03/17	$	2,031
	4,842,000	FAMC		1.050		10/06/17		4,841
	4,000,000	FAMC		0.780		10/27/17		3,998
	13,000,000	FAMC		1.000-1.070		11/03/17		12,988
	9,000,000	FAMC		1.030		11/27/17		8,985
	3,925,000	FAMC		1.030		11/30/17		3,918
	10,000,000	FAMC		1.040		12/01/17		9,982
	5,000,000	FAMC		1.040		12/14/17		4,989
	25,000,000	FAMC		1.100		01/30/18		24,908
	7,000,000	FAMC		1.180		02/16/18		6,968
	15,000,000	Federal Farm Credit Bank (FFCB)		1.000		10/02/17		15,000
	25,000,000	FFCB		1.050		10/11/17		24,993
	60,780,000	FFCB		0.990		10/12/17		60,762
	7,750,000	FFCB		0.750		10/16/17		7,747
	28,000,000	FFCB		1.000		10/17/17		27,987
	46,185,000	FFCB		1.000		10/19/17		46,162
	20,000,000	FFCB		1.000		10/20/17		19,989
	15,000,000	FFCB		1.000		10/23/17		14,991
	9,500,000	FFCB		1.000		10/24/17		9,494
	25,000,000	FFCB		0.990		10/26/17		24,983
	21,500,000	FFCB		1.050		10/27/17		21,484
	17,000,000	FFCB		1.000		10/30/17		16,986
	19,000,000	FFCB		1.000		10/31/17		18,984
	15,750,000	FFCB		1.040		11/01/17		15,736
	18,735,000	FFCB		1.050		11/07/17		18,715
	17,000,000	FFCB		1.040		11/15/17		16,978
	15,000,000	FFCB		1.000		11/29/17		14,975
	20,000,000	FFCB		1.050		12/05/17		19,962
	45,000,000	FFCB		1.020		12/13/17		44,907
	44,720,000	FFCB		1.020-1.030		12/14/17		44,626
	30,000,000	FFCB		1.030		12/28/17		29,924
	4,000,000	FFCB		1.100		01/26/18		3,986
	3,000,000	FFCB		1.100		01/29/18		2,989
	18,900,000	FFCB		1.100		02/13/18		18,822
	6,295,000	FFCB		1.170-1.175		03/22/18		6,260
	23,000,000	Federal Home Loan Bank (FHLB)		1.040		10/02/17		22,999
	100,000,000	FHLB		1.000-1.030		10/03/17		99,994
	100,420,000	FHLB		1.020-1.080		10/04/17		100,411
	32,600,000	FHLB		1.050-1.060		10/06/17		32,595
	103,557,000	FHLB		1.010-1.030		10/10/17		103,531
	93,900,000	FHLB		1.054-1.070		10/11/17		93,873
	126,733,000	FHLB		1.010-1.060		10/13/17		126,688
	90,000,000	FHLB		1.015		10/16/17		89,962
	30,500,000	FHLB		1.040-1.045		10/17/17		30,486
	9,000,000	FHLB		1.070		10/18/17		8,996
	90,000,000	FHLB		1.005-1.080		10/19/17		89,953

391

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	113,446,000	FHLB		1.000%-1.075	%	10/20/17	$	113,385
	75,795,000	FHLB		1.015-1.065		10/23/17		75,748
	30,000,000	FHLB		1.015		10/24/17		29,981
	121,195,000	FHLB		0.990-1.080		10/25/17		121,110
	50,000,000	FHLB		1.030		10/26/17		49,964
	48,875,000	FHLB		0.980-1.020		10/27/17		48,839
	40,000,000	FHLB		1.075		10/30/17		39,965
	11,900,000	FHLB		1.030		10/31/17		11,890
	77,335,000	FHLB		0.970-1.072		11/01/17		77,265
	32,200,000	FHLB		0.980-1.060		11/02/17		32,171
	47,254,000	FHLB		1.025-1.035		11/03/17		47,209
	41,000,000	FHLB		1.015-1.100		11/06/17		40,958
	109,730,000	FHLB		1.025-1.050		11/07/17		109,613
	89,110,000	FHLB		1.025-1.055		11/08/17		89,012
	71,000,000	FHLB		1.005-1.030		11/09/17		70,922
	82,500,000	FHLB		1.025-1.060		11/10/17		82,404
	55,000,000	FHLB		1.040-1.077		11/13/17		54,930
	10,000,000	FHLB		1.050		11/14/17		9,987
	34,970,000	FHLB		1.045		11/15/17		34,924
	55,000,000	FHLB		1.035-1.040		11/16/17		54,927
	68,995,000	FHLB		1.030-1.080		11/17/17		68,902
	50,000,000	FHLB		1.040		11/20/17		49,928
	50,745,000	FHLB		1.035-1.050		11/21/17		50,670
	55,177,000	FHLB		1.040-1.100		11/22/17		55,094
	29,110,000	FHLB		1.050		11/24/17		29,064
	19,900,000	FHLB		0.960-1.080		11/27/17		19,867
	76,800,000	FHLB		1.030-1.045		11/28/17		76,671
	125,520,000	FHLB		1.030-1.050		11/29/17		125,306
	44,000,000	FHLB		1.020		12/06/17		43,918
	30,000,000	FHLB		1.090		12/07/17		29,939
	25,000,000	FHLB		1.060		12/11/17		24,948
	5,000,000	FHLB		1.057		12/15/17		4,989
	50,000,000	FHLB		1.040		12/19/17		49,886
	39,725,000	FHLB		1.000		12/19/17		39,720
	25,730,000	FHLB		1.045		12/20/17		25,670
	49,400,000	FHLB		1.045		12/22/17		49,283
	59,000,000	FHLB		1.050-1.055		12/27/17		58,850
	40,915,000	FHLB		1.045		12/29/17		40,809
	20,000,000	FHLB		1.060		01/02/18		19,945
	43,090,000	FHLB		1.050-1.145		01/03/18		42,971
	10,000,000	FHLB		1.075		01/17/18		9,968
	30,000,000	FHLB		1.070		01/29/18		29,893
	25,000,000	FHLB		1.095		02/16/18		24,895
	20,900,000	FHLB		1.117		02/23/18		20,806
	9,750,000	FHLB		1.145		03/02/18		9,703
	16,000,000	FHLB		1.175		03/28/18		15,907
	14,150,000	Federal Home Loan Mortgage Corp (FHLMC)		0.715-1.045		10/02/17		14,150
	76,086,000	FHLMC		1.010-1.020		10/05/17		76,077
	70,000,000	FHLMC		0.995		10/06/17		69,990
	38,510,000	FHLMC		0.950-0.990		10/10/17		38,501
	22,130,000	FHLMC		0.990		10/11/17		22,124
	20,000,000	FHLMC		1.010		10/12/17		19,994
	40,000,000	FHLMC		0.995		10/13/17		39,987
	84,135,000	FHLMC		0.995-1.020		10/17/17		84,097

392

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	30,000,000	FHLMC		1.020	%	10/18/17	$	29,985
	17,750,000	FHLMC		1.025		10/19/17		17,741
	14,520,000	FHLMC		1.000		10/20/17		14,512
	24,075,000	FHLMC		1.000		10/23/17		24,060
	67,060,000	FHLMC		1.000		10/24/17		67,017
	110,650,000	FHLMC		0.980-1.010		10/26/17		110,574
	47,836,000	FHLMC		0.720-1.020		11/02/17		47,793
	85,000,000	FHLMC		1.050-1.070		11/03/17		84,917
	32,500,000	FHLMC		0.990		11/06/17		32,468
	31,070,000	FHLMC		1.005		11/07/17		31,038
	30,000,000	FHLMC		0.995		11/09/17		29,968
	25,800,000	FHLMC		1.085-1.090		11/10/17		25,769
	79,685,000	FHLMC		1.005		11/21/17		79,572
	30,245,000	FHLMC		1.020-1.050		12/01/17		30,192
	88,903,000	FHLMC		1.020-1.045		12/04/17		88,741
	40,000,000	FHLMC		1.045		12/05/17		39,924
	50,000,000	FHLMC		1.030		12/06/17		49,906
	43,700,000	FHLMC		1.000-1.005		12/14/17		43,610
	22,165,000	FHLMC		1.040-1.050		12/18/17		22,115
	25,320,000	FHLMC		1.110-1.130		02/05/18		25,221
	13,840,000	FHLMC		1.100		02/21/18		13,779
	23,925,000	Federal National Mortgage Association (FNMA)		1.030		10/02/17		23,924
	80,000,000	FNMA		0.999-1.020		10/04/17		79,993
	4,600,000	FNMA		1.010		10/05/17		4,599
	29,300,000	FNMA		1.010-1.060		10/06/17		29,296
	47,667,000	FNMA		1.035		10/11/17		47,653
	53,630,000	FNMA		1.000-1.010		10/12/17		53,614
	35,535,000	FNMA		1.020		10/16/17		35,520
	114,220,000	FNMA		0.990-1.045		10/18/17		114,165
	42,500,000	FNMA		1.030-1.040		10/23/17		42,473
	30,000,000	FNMA		1.030		10/24/17		29,980
	55,000,000	FNMA		1.030-1.040		10/25/17		54,962
	50,000,000	FNMA		1.060		10/30/17		49,957
	20,000,000	FNMA		1.040		10/31/17		19,983
	73,365,000	FNMA		0.970-1.010		11/01/17		73,302
	50,000,000	FNMA		1.030		11/06/17		49,949
	40,000,000	FNMA		1.020-1.030		11/08/17		39,957
	49,000,000	FNMA		1.050		11/15/17		48,936
	19,560,000	FNMA		1.040		11/20/17		19,532
	50,000,000	FNMA		1.000		11/22/17		49,928
	38,500,000	FNMA		1.010		11/27/17		38,438
	40,000,000	FNMA		1.010		11/28/17		39,935
	50,000,000	FNMA		1.000		12/01/17		49,915
	24,685,000	FNMA		0.990		12/08/17		24,639
	50,000,000	FNMA		0.990		12/12/17		49,901
	22,000,000	FNMA		1.030		12/13/17		21,954
	43,065,000	FNMA		1.025-1.030		12/20/17		42,967
	40,000,000	FNMA		1.000		12/26/17		39,904
	32,610,000	Tennessee Valley Authority (TVA)		1.000-1.010		10/03/17		32,608
	10,000,000	TVA		1.010		10/10/17		9,998
	10,000,000	TVA		1.015		10/17/17		9,996
		TOTAL GOVERNMENT AGENCY DEBT						6,145,144

393

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
TREASURY DEBT - 18.1%
$	42,240,000		United States Cash Management Bill			1.020%-1.030	%	01/02/18	$	42,128
	10,000,000		United States Treasury Bill			0.940		10/05/17		9,999
	20,000,000		United States Treasury Bill			0.966		10/12/17		19,994
	70,000,000		United States Treasury Bill			0.970-0.975		11/02/17		69,939
	60,000,000		United States Treasury Bill			0.010-0.980		11/09/17		59,936
	100,000,000		United States Treasury Bill			0.010-0.990		11/16/17		99,874
	10,000,000		United States Treasury Bill			0.986		11/24/17		9,985
	50,000,000		United States Treasury Bill			0.985-1.017		11/30/17		49,917
	120,000,000		United States Treasury Bill			0.980-1.030		12/07/17		119,773
	40,000,000		United States Treasury Bill			0.953-1.031		12/14/17		39,920
	50,000,000		United States Treasury Bill			0.990-1.016		12/21/17		49,887
	21,615,000		United States Treasury Bill			1.003-1.041		12/28/17		21,561
	70,000,000		United States Treasury Bill			1.011-1.065		01/04/18		69,809
	25,000,000		United States Treasury Bill			1.085		01/11/18		24,923
	40,000,000		United States Treasury Bill			1.022		01/18/18		39,876
	60,000,000		United States Treasury Bill			1.000-1.102		01/25/18		59,799
	19,715,000		United States Treasury Bill			1.115-1.116		02/01/18		19,640
	81,560,000		United States Treasury Bill			1.051-1.126		02/08/18		81,243
	20,000,000		United States Treasury Bill			1.097		02/22/18		19,912
	10,815,000		United States Treasury Bill			1.064		03/01/18		10,767
	20,000,000		United States Treasury Bill			1.130		03/08/18		19,901
	80,500,000		United States Treasury Note			0.750		10/31/17		80,499
	40,975,000		United States Treasury Note			0.875		11/15/17		40,971
	10,000,000		United States Treasury Note			0.625		11/30/17		9,994
	86,895,000		United States Treasury Note			0.875		11/30/17		86,879
	63,920,000		United States Treasury Note			1.000		12/15/17		63,921
	50,000,000		United States Treasury Note			0.750		01/31/18		49,937
	100,000,000		United States Treasury Note			0.875		01/31/18		99,906
	109,480,000		United States Treasury Note			1.000		02/15/18		109,414
	110,000,000		United States Treasury Note			0.750		02/28/18		109,807
	100,000,000		United States Treasury Note			1.000		03/15/18		99,929
	45,000,000		United States Treasury Note			1.125		06/15/18		44,958
			TOTAL TREASURY DEBT							1,734,998
VARIABLE RATE SECURITIES - 17.5%
	50,000,000	i	Federal Agricultural Mortgage Corp (FAMC)	EFFR + 0.060%		1.220		10/27/17		50,000
	15,000,000	i	FAMC	LIBOR 3 M - 0.250%		1.064		01/26/18		14,996
	45,000,000	i	FAMC	EFFR + 0.120%		1.280		03/23/18		45,000
	30,000,000	i	FAMC	LIBOR 3 M - 0.230%		1.087		04/27/18		30,000
	50,000,000	i	FAMC	LIBOR 1 M - 0.120%		1.114		06/15/18		50,000
	22,000,000	i	FAMC	LIBOR 1 M + 0.060%		1.296		06/22/18		22,026
	44,500,000	i	FAMC	LIBOR 1 M - 0.120%		1.112		08/03/18		44,500
	50,000,000	i	FAMC	LIBOR 1 M - 0.100%		1.136		11/01/18		50,000
	25,000,000	i	FAMC	LIBOR 1 M - 0.030%		1.207		11/01/18		25,000
	31,000,000	i	FAMC	LIBOR 1 M - 0.075%		1.157		02/04/19		31,000
	25,000,000	i	FAMC	EFFR + 0.010%		1.170		03/01/19		25,000
	12,000,000	i	Federal Farm Credit Bank (FFCB)	EFFR + 0.225%		1.278		11/13/17		12,000
	40,000,000	i	FFCB	LIBOR 1 M + 0.030%		1.264		01/17/18		39,992
	46,500,000	i	FFCB	EFFR + 0.110%		1.270		01/22/18		46,524
	37,000,000	i	FFCB	LIBOR 1 M + 0.050%		1.282		02/02/18		36,986
	3,750,000	i	FFCB	LIBOR 3 M - 0.030%		1.282		02/06/18		3,750
	25,000,000	i	FFCB	LIBOR 1 M + 0.150%		1.387		02/23/18		24,998

394

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	50,000,000	i	FFCB	LIBOR 1 M + 0.035%		1.271	%	03/22/18	$	49,976
	10,000,000	i	FFCB	FRED - 2.900%		1.350		05/14/18		10,006
	16,000,000	i	FFCB	FRED - 2.870%		1.380		05/17/18		16,002
	25,000,000	i	FFCB	FRED - 2.880%		1.370		06/13/18		24,998
	10,000,000	i	FFCB	LIBOR 1 M + 0.140%		1.377		08/01/18		10,024
	40,000,000	i	FFCB	LIBOR 1 M - 0.100%		1.132		08/08/18		40,001
	20,000,000	i	FFCB	LIBOR 1 M + 0.190%		1.422		08/08/18		20,058
	20,000,000	i	FFCB	FRED - 2.850%		1.400		08/10/18		20,003
	46,700,000	i	FFCB	LIBOR 1 M + 0.030%		1.267		08/27/18		46,698
	95,000,000	i	FFCB	LIBOR 1 M - 0.050%		1.184		09/17/18		94,991
	10,000,000	i	FFCB	LIBOR 3 M - 0.030%		1.291		09/18/18		10,016
	50,000,000	i	FFCB	LIBOR 3 M - 0.150%		1.159		11/14/18		49,996
	45,000,000	i	FFCB	FRED - 3.020%		1.230		01/14/19		45,064
	20,000,000	i	FFCB	LIBOR 3 M - 0.160%		1.144		01/15/19		20,000
	50,000,000	i	FFCB	LIBOR 1 M - 0.110%		1.127		01/25/19		50,003
	50,000,000	i	FFCB	FRED - 3.080%		1.170		06/27/19		50,009
	50,000,000	i	FFCB	FRED - 3.080%		1.170		08/16/19		49,991
	75,000,000	i	Federal Home Loan Bank (FHLB)	LIBOR 3 M - 0.150%		1.164		02/23/18		75,004
	50,000,000	i	FHLB	LIBOR 3 M - 0.265%		1.042		04/20/18		50,001
	72,500,000	i	FHLB	LIBOR 3 M - 0.200%		1.104		01/18/19		72,503
	20,000,000	i	FHLB	LIBOR 3 M - 0.230%		1.079		02/13/19		20,001
	50,000,000	i	FHLB	LIBOR 1 M - 0.040%		1.196		02/22/19		50,039
	38,000,000	i	FHLB	LIBOR 3 M - 0.235%		1.081		03/06/19		37,974
	25,000,000	i	Federal Home Loan Mortgage Corp (FHLMC)	LIBOR 3 M - 0.110%		1.199		11/13/17		25,000
	30,000,000	i	FHLMC	LIBOR 1 M - 0.160%		1.077		07/19/18		30,000
	66,140,000	i	Federal National Mortgage Association (FNMA)	LIBOR 1 M + 0.010%		1.241		10/05/17		66,140
	64,500,000	i	FNMA	LIBOR 3 M - 0.030%		1.275		01/11/18		64,541
	20,000,000	i	FNMA	LIBOR 3 M - 0.050%		1.276		03/21/18		20,015
			TOTAL VARIABLE RATE SECURITIES							1,670,826
			TOTAL SHORT-TERM INVESTMENTS							9,550,968
			(Cost $9,550,968)
			TOTAL INVESTMENTS - 99.7%							9,550,968
			(Cost $9,550,968)
			OTHER ASSETS & LIABILITIES, NET - 0.3%							24,642
			NET ASSETS - 100.0%						$	9,575,610

Abbreviation(s):

EFFR     Effective Federal Funds Rate

FRED    Federal Bank Prime Loan Rate

LIBOR  London Interbank Offered Rate

M          Month

i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
	Cost amounts are in thousands.

395

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

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

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

Transactions with affiliates: The Accounts may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board of Trustees (“Board”) pursuant to the 1940 Act. These transactions are effected at market rates without incurring broker commissions.

New accounting pronouncement: In March 2017, FASB issued ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities. ASU 2017-08 shortens the premium amortization period on a purchased callable debt security from the security’s contractual life to the earliest call date. It is anticipated that this change will reduce losses recognized when a security is called on an earlier date. This guidance is effective for fiscal years beginning after December 15, 2018. This guidance will not significantly impact the Accounts’ financial statements.

New rule issuances: 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. Management is currently assessing the impact of Forms N-PORT and N-CEN on the Accounts’ various filings. On August 1, 2017, the Accounts adopted amendments to Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and other filings. The amended S-X disclosures required under this rule did not have an impact on net assets or results of operations but resulted in new disclosures in the schedules of investments for certain investment types. Please refer to the schedules of investments, Note 3, and Note 4 of the financial statement disclosures for details.

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 Accounts’ financial statements and other filings.

In March 2017, the Commission issued Final Rule Release No. 34-80295, Amendment to Securities Transaction Settlement Cycle. This final rule shortens the standard settlement cycle from T+3 to T+2. It is expected that this shortened settlement time will decrease certain risks due to the reduction of unsettled trades and risk exposure. The compliance date for this final rule was September 5, 2017. This rule did not materially impact the Accounts’ financial statements and other filings.

396

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

Note 2—valuation of investments

Portfolio investments are valued at fair value utilizing various valuation methods approved by the Board. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:

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

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

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

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

In accordance with ASC 820, 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. These investments will be disclosed at their fair value to allow reconciliation back to the schedules of investments. As of September 30, 2017, 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 as 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 as Level 2 of the fair value hierarchy; in instances where prices, yields or any other key inputs are unobservable, they are categorized as 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 as 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 as 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 as 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 as Level 1 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. 

Forward foreign currency contracts: Forward foreign currency contracts are valued using the prevailing forward exchange rate and are categorized as Level 2 of the fair value hierarchy. 

397

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

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 as Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3. 

Transfers between levels are recognized at the end of the reporting period. For the period ended September 30, 2017, there were no material transfers between levels by the Accounts.

As of September 30, 2017, 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, 2017, 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	$	10,347,488		$	4,611,242	$	186	$	14,958,916
Consumer staples		6,327,559			3,101,541		7		9,429,107
Energy		5,505,372			2,091,131		210		7,596,713
Financials		12,663,398			7,840,970		794		20,505,162
Health care		12,125,202			2,484,697		122		14,610,021
Industrials		9,574,172			4,552,000		656		14,126,828
Information technology		20,067,498			3,844,250		218		23,911,966
Materials		3,241,992			3,120,860		3,423		6,366,275
Real estate		2,822,470			1,560,133		4,645		4,387,248
Telecommunication services		1,622,472			1,315,156		3		2,937,631
Utilities		2,317,409			1,004,821		—		3,322,230
Corporate bonds		—			—		396		396
Government bonds		—			298		—		298
Short-term investments		—			3,120,794		—		3,120,794
Purchased options**		355			—		—		355
Written options**		(279	)		—		—		(279	)
Futures contracts**		6,303			—		—		6,303
Swaps contracts**		—			75		—		75
Total	$	86,621,411		$	38,647,968	$	10,660	$	125,280,039
Global Equities
Equity investments:
Asia	$	928		$	1,491,571	$	—	$	1,492,499
Australasia		23,336			262,329		3		285,668
Europe		129,500			3,483,414		—		3,612,914
North America		11,762,095			610,974		—		12,373,069
All other equity investments*		242,276			1,574,435		14		1,816,725
Short-term investments		—			531,769		—		531,769
Futures contracts**		4,799			—		—		4,799
Total	$	12,162,934		$	7,954,492	$	17	$	20,117,443
Growth
Equity investments:
Consumer discretionary	$	4,293,228		$	169,126	$	—	$	4,462,354
Consumer staples		1,170,772			57,494		—		1,228,266
Health care		3,327,954			160,990		—		3,488,944
Information technology		9,643,731			255,305		—		9,899,036
All other equity investments *		4,842,214			—		—		4,842,214
Short-term investments		24,556			166,672		—		191,228
Futures contracts**		1,699			—		—		1,699
Total	$	23,304,154		$	809,587	$	—	$	24,113,741

398

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

Account	Level 1		Level 2		Level 3		Total
Equity Index
Equity investments:
Health care	$	2,613,237		—	$	13	$	2,613,250
Industrials		2,030,905		—		119		2,031,024
Real estate		744,757		515		—		745,272
All other equity investments *		13,313,025		—		—		13,313,025
Short-term investments		288,605		71,891		—		360,496
Futures		608		—		—		608
Total	$	18,991,137	$	72,406	$	132	$	19,063,675
Bond Market
Bank loan obligations	$	—	$	39,176	$	—	$	39,176
Corporate bonds		—		4,778,598		—		4,778,598
Government bonds		—		6,268,437		—		6,268,437
Structured assets		—		2,495,950		470		2,496,420
Preferred stocks		13,858		—		—		13,858
Short-term investments		—		152,022		—		152,022
Forward foreign currency contracts**		—		2,687		—		2,687
Total	$	13,858	$	13,736,870	$	470	$	13,751,198
Social Choice
Equity investments:
Consumer discretionary	$	726,703	$	307,267	$	—	$	1,033,970
Consumer staples		421,609		222,892		—		644,501
Energy		338,813		158,163		—		496,976
Financials		953,889		612,898		—		1,566,787
Health care		859,551		219,057		—		1,078,608
Industrials		663,893		333,480		—		997,373
Information technology		1,269,008		144,397		—		1,413,405
Materials		232,200		232,679		—		464,879
Real estate		236,685		87,650		—		324,335
Telecommunication services		111,183		106,415		—		217,598
Utilities		175,143		89,067		—		264,210
Bank loan obligations		—		35,241		—		35,241
Corporate bonds		—		1,715,138		—		1,715,138
Government bonds		—		3,354,739		—		3,354,739
Structured assets		—		427,566		344		427,910
Short-term investments		171,424		42,057		—		213,481
Total	$	6,160,101	$	8,088,706	$	344	$	14,249,151

* For detailed categories, see the accompanying schedules of investments.

** Derivative instruments, excluding purchased options, are not reflected in the market value of portfolio investments.

Note 3—derivative instruments

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

Futures contracts: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures 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. The futures contracts outstanding as of September 30, 2017 are disclosed in the schedules of investments.

399

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

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 schedules 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. The purchased and written options outstanding as of September 30, 2017 are disclosed in the schedules of investments.

Total return swap contracts: Total return swaps are agreements that provide a 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 swap contracts to gain or hedge exposure to the underlying reference assets. The total return swap contracts outstanding as of September 30, 2017 are disclosed in the schedules of investments.

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. Risks may arise upon entering into these contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar. The forward contracts outstanding as of September 30, 2017 are disclosed in the schedules of investments.

Note 4—affiliated investments

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

											Change in unrealized
	Value at			Purchase		Sales		Realized			appreciation		Dividend		Shares at			Value at
Issue	12/31/16			cost		proceeds		gain/(loss)			(depreciation)		income		9/30/17			9/30/17
Stock Account
Dick’s Sporting Goods, Inc	$	N/A	*	$	175,974	$	11,003	$	(4,352	)	$	-	$	885		N/A	*	$	N/A	*
Tronox Ltd		N/A	**		63,152		6,353		3,640			8,997		195		3,468,064			73,176
	$			$	239,126	$	17,356	$	(712	)	$	8,997	$	1,080				$	73,176

* Not applicable–at December 31, 2016 and September 30, 2017, the issuer was not an affiliated company of the account, but it was affiliated during the period.

** Not applicable–at December 31, 2016, the issuer was not an affiliated company of the account.

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

Note 5—investments

Securities lending: Certain Accounts may lend their securities to qualified institutional borrowers to earn additional income. An Account receives collateral (in the form of cash, Treasury securities or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan; any additional collateral required due to changes in security values is delivered to the Account the next business day. Cash collateral received by the Account will generally be invested in high-quality short-term instruments or in one or more funds maintained by the securities lending agent (“Agent”) for the purpose of investing cash collateral. The value of the loaned securities are reflected in the schedules of investments. As of September 30, 2017, 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 $113,472,000 related to equity securities and $52,546,000 related to fixed income securities. In lending its securities, an Account bears the market risk with respect to the investment of collateral and the risk that the Agent may default on its contractual obligations to the Account. The Agent bears the risk that the borrower may default on its obligation to return the loaned securities as the Agent is contractually obligated to indemnify the Account if at the time of a default by a borrower some or all of the loan securities have not been returned.

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

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

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

Mortgage dollar 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, 2017, net unrealized appreciation (depreciation) based on the aggregate cost of all investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation was as follows (dollar amounts are in thousands):

Account	Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Stock		$21,865,007		$(2,384,262	)		$19,480,745
Global Equities		3,624,796		(358,795	)		3,266,001
Growth		6,165,491		(225,255	)		5,940,236
Equity Index		10,258,317		(450,225	)		9,808,092
Bond Market		204,639		(106,975	)		97,664
Inflation-Linked Bond		269,527		(39,203	)		230,324
Social Choice		2,664,739		(248,428	)		2,416,311

401

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 15, 2017	By:	/s/ Carol W. Deckbar
			Carol W. Deckbar
			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 15, 2017	By:	/s/ Carol W. Deckbar
			Carol W. Deckbar
			Principal Executive Officer and Executive Vice President
			(principal executive officer)
Dated:	November 15, 2017	By:	/s/ Glenn E. Brightman
			Glenn E. Brightman
			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