N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number File No. 811-04415

COLLEGE RETIREMENT EQUITIES FUND

(Exact name of Registrant as specified in charter)

730 Third Avenue, New York, New York 10017-3206

(Address of Principal Executive Offices) (Zip code)

Jeremy D. Franklin, Esq.

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, 2018

Item 1. Schedule of Investments.

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2018

							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	$	0	^
			TOTAL DIVERSIFIED FINANCIALS						0	^
			TOTAL CORPORATE BONDS						0	^
			(Cost $466)
GOVERNMENT BONDS -  0.0%
U.S. TREASURY SECURITIES - 0.0%
	300,000		United States Treasury Note		1.750		05/15/22		288
			TOTAL U.S. TREASURY SECURITIES						288
			TOTAL GOVERNMENT BONDS						288
			(Cost $301)
			TOTAL BONDS						288
			(Cost $767)
EQUITY LINKED NOTES - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	279,315	*,j,m	Morgan Stanley BV		0.000		06/14/19		6,388
			TOTAL DIVERSIFIED FINANCIALS						6,388
			TOTAL EQUITY LINKED NOTES						6,388
			(Cost $6,465)
SHARES			COMPANY
COMMON STOCKS - 99.4%
AUTOMOBILES & COMPONENTS - 1.6%
	166,571	e	Adient plc						6,548
	79,900		Aisan Industry Co Ltd						695
	1,037,844		Aisin Seiki Co Ltd						50,563
	87,600	*,e	Akebono Brake Industry Co Ltd						197
	218,001	*	American Axle & Manufacturing Holdings, Inc						3,802
	579,487		Apollo Tyres Ltd						1,697
	46,461		ARB Corp Ltd						643
	36,122		Asahi India Glass Ltd						158

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	291	e	Autoliv, Inc	$	25
	1,830	e	Autoneum Holding AG.		369
	2,006,500	g	BAIC Motor Corp Ltd		1,615
	94,287		Bajaj Holdings and Investment Ltd		3,496
	47,030		Balkrishna Industries Ltd		661
	641,518		Bayerische Motoren Werke AG.		57,795
	7,530		Bayerische Motoren Werke AG. (Preference)		591
	405,584		Bharat Forge Ltd		3,364
	385,704		BorgWarner, Inc		16,500
	9,720	*	Bosch Ltd		2,673
	123,584		Brembo S.p.A		1,616
	654,862		Bridgestone Corp		24,750
	5,606,135		Brilliance China Automotive Holdings Ltd		9,040
	593,062	e	Byd Co Ltd		4,217
	18,112		Cayman Engley Industrial Co Ltd		86
	70,078		Ceat Ltd		1,103
	383,000	e	Chaowei Power Holdings Ltd		168
	1,686,251		Cheng Shin Rubber Industry Co Ltd		2,651
	5,218,000	*	China First Capital Group Ltd		2,800
	1,432,000		China Motor Corp		1,203
	867,600		Chongqing Changan Automobile Co Ltd		701
	211,836		Cie Automotive S.A.		6,610
	310,064		Compagnie Plastic-Omnium S.A.		11,691
	123,994		Continental AG.		21,543
	68,325		Cooper Tire & Rubber Co		1,934
	41,267	*	Cooper-Standard Holding, Inc		4,951
	40,155		Cub Elecparts, Inc		299
	35,600		Daido Metal Co Ltd		294
	26,100		Daikyonishikawa Corp		302
	2,321,643		Daimler AG. (Registered)		146,315
	980,653		Dana Holding Corp		18,309
	1,060,326		Delphi Automotive plc		88,961
	160,915		Delphi Technologies plc		5,046
	384,718		Denso Corp		20,324
	63,000		Depo Auto Parts Ind Co Ltd		152
	268,887	g	Dometic Group AB		2,352
	1,341		Dong Ah Tire & Rubber Co Ltd		42
	2,677,787		Dongfeng Motor Group Co Ltd		2,759
	36,056	*	Dorman Products, Inc		2,773
	5,862,500		Drb-Hicom BHD		3,073
	131,900		Eagle Industry Co Ltd		1,718
	21,713		EDAG Engineering Group AG.		433
	18,483		ElringKlinger AG.		205
	33,180	g	Endurance Technologies Ltd		607
	26,685	*	Esmo Corp		212
	153,782		Exedy Corp		5,097
	330,180		Exide Industries Ltd		1,210
	390,984		Faurecia		23,514
	26,200		FCC Co Ltd		788
	34,996		Ferrari NV		4,807
	639,514	*	Fiat DaimlerChrysler Automobiles NV		11,184
	13,030,756		Ford Motor Co		120,534
	64,292		Ford Otomotiv Sanayi AS		700
	93,158	*	Fox Factory Holding Corp		6,526

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	266,706		Fuji Heavy Industries Ltd	$	8,176
	46,097		Futaba Industrial Co Ltd		338
	7,600	*	Fuyao Glass Industry Group Co Ltd		28
	602,400	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		2,183
	13,669,202		Geely Automobile Holdings Ltd		27,222
	85,268,000	*,†,e,m	General Motors Co		0
	4,230,271	*,†,m	General Motors Co		0
	35,983,677	*,†,m	General Motors Co		0
	24,057,000	*,†,m	General Motors Co		0
	18,507,434	*,†,m	General Motors Co		0
	40,684,487	*,†,e,m	General Motors Co		0
	6,062,000	*,†,m	General Motors Co		0
	722,689	*,†,e,m	General Motors Co		0
	1,460,267		General Motors Co		49,167
	7,950,000	*,†,m	General Motors Co		0
	26,439,191	*,†,m	General Motors Co		0
	779,549		Gentex Corp		16,729
	49,471	*	Gentherm, Inc		2,248
	270,395	g	Gestamp Automocion S.A.		2,043
	3,496		Global & Yuasa Battery Co Ltd		118
	24,000		Global PMX Co Ltd		66
	454,762		Goodyear Tire & Rubber Co		10,637
	783		Grammer AG.		44
	2,881,989	e	Great Wall Motor Co Ltd		1,832
	143,500		G-Tekt Corp		2,374
	8,860,585		Guangzhou Automobile Group Co Ltd		9,790
	312,307		GUD Holdings Ltd		3,263
	5,287		Halla Holdings Corp		193
	5,717		Hanil E-Hwa Co Ltd		30
	76,448		Hankook Tire Co Ltd		3,451
	195,909		Hanon Systems		2,234
	86,944		Harley-Davidson, Inc		3,939
	95,117		Hero Honda Motors Ltd		3,849
	41,000		Hiroca Holdings Ltd		114
	1,657,934		Honda Motor Co Ltd		49,931
	134,990		Hota Industrial Manufacturing Co Ltd		584
	46,199		Hu Lane Associate, Inc		143
	72,639		Hyundai Mobis		14,931
	173,841		Hyundai Motor Co		20,292
	52,360		Hyundai Motor Co Ltd (2nd Preference)		3,999
	24,552		Hyundai Motor Co Ltd (Preference)		1,733
	11,727	e	Hyundai Wia Corp		448
	19,000		Ichikoh Industries Ltd		167
	23,860		Indus Motor Co Ltd		269
	468,471		Isuzu Motors Ltd		7,385
	414,504		JK Tyre & Industries Ltd		556
	143,500		Kasai Kogyo Co Ltd		1,500
	75,489		Kayaba Industry Co Ltd		3,383
	338,600		Keihin Corp		7,007
	380,455		Kenda Rubber Industrial Co Ltd		380
	311,496		Kia Motors Corp		9,853
	35,036		Koito Manufacturing Co Ltd		2,301

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	601,202	*	Kongsberg Automotive ASA	$	671
	58,820	*,e	Kumho Tire Co, Inc		281
	104,000		Launch Tech Co Ltd		110
	33,005		LCI Industries, Inc		2,733
	276,529		Lear Corp		40,097
	22,747		Leoni AG.		935
	28,569		Linamar Corp		1,316
	33,000		Macauto Industrial Co Ltd		91
	628,093		Magna International, Inc		32,994
	1,213,587		Mahindra & Mahindra Ltd		14,417
	48,350	*	Mahindra CIE Automotive Ltd		177
	237,800		Mahle-Metal Leve S.A. Industria e Comercio		1,428
	21,356		Mando Corp		664
	264,162		Martinrea International, Inc		2,698
	112,648		Maruti Suzuki India Ltd		11,421
	590,931	e	Mazda Motor Corp		7,103
	319,940		Metair Investments Ltd		338
	21,734		MGI Coutier		458
	415,842		Michelin (C.G.D.E.) (Class B)		49,633
	37,302		Minda Industries Ltd		182
	525,681		Minth Group Ltd		2,163
	20,600	e	Mitsuba Corp		192
	463,668	e	Mitsubishi Motors Corp		3,276
	704,905	*	Modine Manufacturing Co		10,503
	484,184	*	Motherson Sumi Systems Ltd		1,716
	25,026	*,e	Motorcar Parts of America, Inc		587
	63,200		Musashi Seimitsu Industry Co Ltd		1,030
	305,949		Nan Kang Rubber Tire Co Ltd		259
	10,044		Nexen Corp		57
	19,219		Nexen Tire Corp		166
	1,013,000		Nexteer Automotive Group Ltd		1,604
	834,623	e	NGK Spark Plug Co Ltd		24,329
	172,400		NHK Spring Co Ltd		1,793
	161,202	e	Nifco, Inc		4,334
	179,200		Nippon Seiki Co Ltd		3,397
	3,537,481	e	Nissan Motor Co Ltd		33,102
	41,341		Nissan Shatai Co Ltd		373
	135,600		Nissin Kogyo Co Ltd		2,283
	66,839	e	NOK Corp		1,147
	195,869		Nokian Renkaat Oyj		8,017
	308,400		Pacific Industrial Co Ltd		5,111
	2,148,752		Peugeot S.A.		57,964
	98,307		Piaggio & C S.p.A.		224
	18,200	e	Piolax Inc		404
	365,944	*,g	Pirelli & C S.p.A		3,066
	10,259	e	POLYTEC Holding AG.		131
	317,313		Porsche AG.		21,361
	77,100		Press Kogyo Co Ltd		407
	32,347,107		PT Astra International Tbk		15,937
	7,888,000		Qingling Motors Co Ltd		2,177
	189,400	e	Rassini SAB de C.V.		724
	786,030		Renault S.A.		67,993
	5,400		Riken Corp		301
	38,882		S&T Daewoo Co Ltd		1,057

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,625		SAF-Holland S.A.	$	447
	45,500		SAIC Motor Corp Ltd		220
	14,900		Sanden Corp		205
	361,920		Sanyang Industry Co Ltd		243
	397,786		Schaeffler AG.		5,074
	18,090	*	Shiloh Industries, Inc		199
	8,300	e	Shoei Co Ltd		358
	336,600		Showa Corp		5,172
	68,916		SL Corp		1,307
	303,449	*,e	Sogefi S.p.A.		686
	137,260		Spartan Motors, Inc		2,025
	447,680		Sri Trang Agro-Industry PCL (Foreign)		227
	22,347	*	Ssangyong Motor Co		92
	28,443		Standard Motor Products, Inc		1,400
	271,542		Stanley Electric Co Ltd		9,283
	286,120	*	Stoneridge, Inc		8,503
	622,700		Sumitomo Electric Industries Ltd		9,771
	179,840		Sumitomo Rubber Industries, Inc		2,701
	131,205		Sundram Fasteners Ltd		1,052
	2,239		Sungwoo Hitech Co Ltd		9
	46,339		Superior Industries International, Inc		790
	19,419		Suprajit Engineering Ltd		64
	222,171		Suzuki Motor Corp		12,733
	150,000	e	T RAD Co Ltd		4,120
	104,500		Tachi-S Co Ltd		1,564
	20,500		Taiho Kogyo Co Ltd		241
	1,710,245	*	Tata Motors Ltd		5,280
	13,500		Teikoku Piston Ring Co Ltd		357
	68,831		Tenneco, Inc		2,901
	125,990	*,e,n	Tesla, Inc		33,358
	20,350		Thal Ltd		72
	11,341		Thor Industries, Inc		949
	5,906,000		Tianneng Power International Ltd		5,221
	100,486		Tofas Turk Otomobil Fabrik		355
	327,863		Tokai Rika Co Ltd		6,931
	21,700	e	Tokai Rubber Industries, Inc		219
	880,699		Tong Yang Industry Co Ltd		1,217
	130,100		Topre Corp		3,290
	27,008		Tower International, Inc		817
	64,500	e	Toyo Tire & Rubber Co Ltd		1,163
	46,815	e	Toyoda Gosei Co Ltd		1,156
	49,700		Toyota Boshoku Corp		929
	59,605		Toyota Industries Corp		3,528
	4,879,689		Toyota Motor Corp		304,018
	218,400		TS Tech Co Ltd		7,534
	97,469		Tube Investments of India Ltd		396
	41,089		Tung Thih Electronic Co Ltd		108
	37,200		Tupy S.A.		187
	40,000		TYC Brother Industrial Co Ltd		37
	436,341		UMW Holdings BHD		529
	37,000		Unipres Corp		719
	41,986		Valeo S.A.		1,818
	291	*,e	Veoneer, Inc		16

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,194	*	Visteon Corp	$	854
	89,036		Volkswagen AG.		15,481
	158,038		Volkswagen AG. (Preference)		27,753
	6,823		WABCO India Ltd		649
	41,744		Winnebago Industries, Inc		1,384
	241,000	e	Xin Point Holdings Ltd		94
	4,058,247		Xingda International Holdings Ltd		1,178
	1,974,785		Xinyi Glass Holdings Co Ltd		2,490
	2,440,000	e,g	Yadea Group Holdings Ltd		845
	134,862		Yamaha Motor Co Ltd		3,782
	42,300		Yokohama Rubber Co Ltd		912
	153,700		Yorozu Corp		2,376
	551,000		Yulon Motor Co Ltd		391
			TOTAL AUTOMOBILES & COMPONENTS		1,944,634
BANKS - 8.0%
	9,469	e	1st Constitution Bancorp		196
	20,604		1st Source Corp		1,084
	282,206		77 Bank Ltd		6,707
	37,014		Aareal Bank AG.		1,543
	543,089	g	ABN AMRO Group NV (ADR)		14,791
	1,836,378		Absa Group Ltd		19,695
	3,236,845	*	Abu Dhabi Commercial Bank PJSC		7,009
	21,000		Access National Corp		569
	9,636		ACNB Corp		358
	79,394,649		Agricultural Bank of China		38,937
	1,124,900		Agricultural Bank of China Ltd		636
	2,436,510		AIB Group plc		12,453
	4,900		Aichi Bank Ltd		219
	1,855,405		Akbank TAS		2,125
	8,900		Akita Bank Ltd		235
	295,362		Albaraka Turk Katilim Bankasi AS		74
	136,590	*	Alior Bank S.A.		2,331
	165,032	*	Allahabad Bank		81
	16,681	*	Allegiance Bancshares, Inc		696
	1,020,056		Alliance Financial Group BHD		1,030
	1,600,530	*	Alpha Bank AE		2,303
	315,270	*,†,m	Amagerbanken AS		0
	15,714	*	Amalgamated Bank		303
	11,315		American National Bankshares, Inc		441
	56,717		Ameris Bancorp		2,592
	11,926	*,e	Ames National Corp		325
	473,336	*	Amlak Finance PJSC		79
	1,617,938		AMMB Holdings BHD		1,614
	11,100	e	Aomori Bank Ltd		336
	175,694		Aozora Bank Ltd		6,275
	16,902		Arrow Financial Corp		625
	14,600	*,e	Aruhi Corp		303
	2,140,160		Ashikaga Holdings Co Ltd		7,405
	1,041,585		Associated Banc-Corp		27,081
	58,421	*	Atlantic Capital Bancshares, Inc		979
	3,519		Auburn National Bancorporation, Inc		135
	3,529,328		Australia & New Zealand Banking Group Ltd		71,845
	16,421	*,m	Australis Capital, Inc		29

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES		COMPANY	VALUE (000)
21,544		Awa Bank Ltd	$	669
1,911,473	*	Axis Bank Ltd		16,179
79,992	*	Axos Financial, Inc		2,751
55,933	e	Banc of California, Inc		1,057
17,755,271		Banca Intesa S.p.A.		45,239
575,327	*,e	Banca Monte dei Paschi di Siena S.p.A		1,494
3,174,933	e	Banca Popolare dell’Emilia Romagna Scrl		14,644
934,757		Banca Popolare di Sondrio SCARL		3,556
38,748		Bancfirst Corp		2,323
673,768	e	Banche Popolari Unite Scpa		2,696
557,762		Banco ABC Brasil S.A.		1,928
21,492	*	Banco ABC Brasil S.A. (ADR)		73
2,249,436		Banco Bilbao Vizcaya Argentaria S.A.		14,262
989,169	*,e	Banco BPM S.p.A		2,429
1,040,270		Banco Bradesco S.A.		6,633
4,454,072		Banco Bradesco S.A. (Preference)		31,620
5,950,898	*	Banco Comercial Portugues S.A.		1,762
24,425,226		Banco de Chile		3,719
43,770		Banco de Credito e Inversiones		2,960
1,831,853		Banco de Oro Universal Bank		4,062
1,070,301		Banco de Sabadell S.A.		1,655
702,700	g	Banco del Bajio S.A.		1,734
2,675,732		Banco do Brasil S.A.		19,512
1,339,300		Banco do Estado do Rio Grande do Sul		4,968
16,063,377	*,†,m	Banco Espirito Santo S.A.		187
4,720,565		Banco Itau Holding Financeira S.A.		51,583
1,508,148		Banco Santander Brasil S.A.		13,335
65,301,824		Banco Santander Chile S.A.		5,224
1,753,669		Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		2,731
19,046,434		Banco Santander S.A.		95,359
239,738		BanColombia S.A.		2,581
846,524		BanColombia S.A. (Preference)		8,943
125,216		BancorpSouth Bank		4,095
175,400		Bangkok Bank PCL (ADR)		1,139
1,388,500		Bangkok Bank PCL (Foreign)		9,361
435,600		Bank Alfalah Ltd		174
10,896		Bank Handlowy w Warszawie S.A.		228
381,906		Bank Hapoalim Ltd		2,797
1,344,551		Bank Leumi Le-Israel		8,861
524,790	*	Bank Millennium S.A.		1,317
29,223,815		Bank of America Corp		860,934
161,400		Bank of Beijing Co Ltd		143
27,500		Bank of China Ltd		15
165,114,972		Bank of China Ltd (Hong Kong)		72,955
20,232		Bank of Commerce Holdings		247
612,400		Bank of Communications Co Ltd		520
22,232,946		Bank of Communications Co Ltd (Hong Kong)		16,648
1,686,779		Bank of East Asia Ltd		6,277
62,004		Bank of Georgia Group plc		1,383
22,112		Bank of Hawaii Corp		1,745
9,539,928		Bank of Ireland Group plc		72,951
10,200	e	Bank of Iwate Ltd		445

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,200		Bank of Jiangsu Co Ltd	$	27
	326,655		Bank of Kaohsiung		101
	450,184	e	Bank of Kyoto Ltd		23,498
	9,253		Bank of Marin Bancorp		776
	780,658		Bank of Montreal		64,392
	7,099	e	Bank of Nagoya Ltd		239
	142,800		Bank of Nanjing Co Ltd		159
	107,900		Bank of Ningbo Co Ltd		279
	1,332,170		Bank of Nova Scotia		79,405
	507,365		Bank of NT Butterfield & Son Ltd		26,312
	42,900		Bank of Okinawa Ltd		1,518
	7,472	*	Bank of Princeton		228
	404,961		Bank of Queensland Ltd		3,224
	8,454		Bank of Saga Ltd		174
	81,060		Bank of Shanghai Co Ltd		144
	1,360,238		Bank of the Philippine Islands		2,097
	129,600	e	Bank of the Ryukyus Ltd		1,582
	208,306		Bank OZK		7,907
	163,728		Bank Pekao S.A.		4,712
	54,641,557		Bank Rakyat Indonesia		11,547
	31,227		Bank Zachodni WBK S.A.		3,176
	56,305		BankFinancial Corp		898
	377,786		Bankia S.A.		1,475
	403,345		Bankinter S.A.		3,705
	160,419		BankUnited		5,679
	8,216		Bankwell Financial Group, Inc		258
	70,995		Banner Corp		4,414
	1,962		Banque Cantonale Vaudoise		1,454
	27,161		Bar Harbor Bankshares		780
	4,937,065		Barclays plc		10,951
	251,660	g	BAWAG Group AG.		11,681
	14,985	*	Baycom Corp		400
	739,582		BB&T Corp		35,899
	272,020	e	BBVA Banco Frances S.A. (ADR)		3,174
	17,674		BCB Bancorp, Inc		245
	238,945		Bendigo Bank Ltd		1,856
	328,399		Beneficial Bancorp, Inc		5,550
	97,717		Berkshire Hills Bancorp, Inc		3,977
	76,916		Blue Hills Bancorp, Inc		1,854
	1,226,620		BNP Paribas		75,114
	5,037,932		BOC Hong Kong Holdings Ltd		23,912
	23,632		BOK Financial Corp		2,299
	148,768		Boston Private Financial Holdings, Inc		2,031
	13,243		BRE Bank S.A.		1,608
	26,213		Bridge Bancorp, Inc		870
	19,006	*,e	Bridgewater Bancshares, Inc		247
	103,176		Brookline Bancorp, Inc		1,723
	26,535		Bryn Mawr Bank Corp		1,244
	793,675		BS Financial Group, Inc		6,152
	11,272	*	BSB Bancorp, Inc		367
	8,504,609		Bumiputra-Commerce Holdings BHD		12,347
	13,872	e	Business First Bancshares, Inc		368
	20,211	*	Byline Bancorp, Inc		459
	4,550		C&F Financial Corp		267

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	290,208		Cadence BanCorp	$	7,580
	8,622,551		CaixaBank S.A.		39,215
	4,786		Cambridge Bancorp		431
	20,000		Camden National Corp		869
	23,578		Can Fin Homes Ltd		77
	530,664	e	Canadian Imperial Bank of Commerce		49,724
	57,834		Canadian Western Bank		1,527
	170,791		Canara Bank		521
	15,850		Capital City Bank Group, Inc		370
	44,253		Capitec Bank Holdings Ltd		3,201
	169,029		Capitol Federal Financial		2,153
	10,609		Capstar Financial Holdings, Inc		177
	26,497		Carolina Financial Corp		999
	422,506		Cathay General Bancorp		17,509
	6,690	e	CB Financial Services, Inc		206
	24,555	e	CBTX, Inc		873
	411,755		Centerstate Banks of Florida, Inc		11,550
	297,291		Central Pacific Financial Corp		7,857
	15,375		Central Valley Community Bancorp		332
	4,051		Century Bancorp, Inc		293
	8,287,440		Chang Hwa Commercial Bank		5,129
	260,230	g	Charter Court Financial Services Group plc		1,136
	96,188		Chemical Financial Corp		5,136
	4,414	e	Chemung Financial Corp		187
	1,096,232		Chiba Bank Ltd		7,487
	31,000		Chiba Kogyo Bank Ltd		139
	31,485,481		China Citic Bank		20,106
	28,700		China CITIC Bank Corp Ltd		25
	152,046,359		China Construction Bank		132,904
	212,600		China Construction Bank Corp		224
	18,017,577		China Development Financial Holding Corp		6,723
	22,200		China Everbright Bank Co Ltd		13
	3,353,685		China Everbright Bank Co Ltd (Hong Kong)		1,485
	5,130,896		China Merchants Bank Co Ltd		20,747
	198,700		China Merchants Bank Co Ltd (Class A)		887
	196,800		China Minsheng Banking Corp Ltd		181
	7,243,071	e	China Minsheng Banking Corp Ltd (Hong Kong)		5,371
	18,503,781		Chinatrust Financial Holding Co		13,932
	197,000	e	Chong Hing Bank Ltd		355
	11,513,584		Chongqing Rural Commercial Bank		6,283
	586,500		Chugoku Bank Ltd		5,972
	5,200		Chukyo Bank Ltd		105
	234,571		CIT Group, Inc		12,106
	9,497,139	n	Citigroup, Inc		681,325
	16,604		Citizens & Northern Corp		434
	4,405,011		Citizens Financial Group, Inc		169,901
	20,036		City Holding Co		1,539
	400,027		City Union Bank Ltd		981
	18,921		Civista Bancshares, Inc		456
	20,534		CNB Financial Corp		593
	9,317	*	Coastal Financial Corp		158
	51,843		CoBiz, Inc		1,148
	12,231		Codorus Valley Bancorp, Inc		382

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,502	*,e	Collector AB	$	128
	98,607		Columbia Banking System, Inc		3,823
	66,594	*,e	Columbia Financial, Inc		1,112
	16,983		Comdirect Bank AG.		218
	2,348,106		Comerica, Inc		211,799
	46,198		Commerce Bancshares, Inc		3,050
	13,928		Commerce Union Bancshares, Inc		356
	420,831	*	Commercial Bank of Qatar QSC		4,681
	1,385,066		Commercial International Bank		6,416
	532,630	*	Commerzbank AG.		5,534
	1,305,426		Commonwealth Bank of Australia		67,378
	66,423		Community Bank System, Inc		4,056
	34,187	*	Community Bankers Trust Corp		301
	6,087		Community Financial Corp		203
	20,929		Community Trust Bancorp, Inc		970
	2,234,329		Concordia Financial Group Ltd		10,952
	136,776		ConnectOne Bancorp, Inc		3,248
	288,023,308		Corpbanca S.A.		2,966
	8,148		County Bancorp, Inc		205
	96,841		Credicorp Ltd (NY)		21,603
	4,923,654		Credit Agricole S.A.		70,777
	52,634		Credito Emiliano S.p.A.		345
	4,566,399	*	Credito Valtellinese S.p.A		571
	24,107		Cullen/Frost Bankers, Inc		2,518
	103,428	*	Customers Bancorp, Inc		2,434
	179,985		CVB Financial Corp		4,017
	578,734	e	CYBG plc		2,443
	5,646,074	*,†,m	Cyprus Popular Bank Public Co Ltd		66
	1,270,027		Dah Sing Banking Group Ltd		2,550
	422,708		Dah Sing Financial Holdings Ltd		2,704
	15,500	m	Daishi Bank Ltd		686
	602,852		Danske Bank AS		15,802
	1,428,119		DBS Group Holdings Ltd		27,244
	670,067	g	Deutsche Pfandbriefbank AG.		10,017
	100,797		Development Credit Bank Ltd		206
	157,710		Dewan Housing Finance Corp Ltd		598
	178,986		DGB Financial Group Co Ltd		1,637
	41,826		Dime Community Bancshares		747
	951,863		DNB NOR Holding ASA		20,031
	367,274	*	Doha Bank QSC		2,118
	5,508,189	*	Dubai Islamic Bank PJSC		8,068
	10,194,276		E.Sun Financial Holding Co Ltd		7,527
	136,070	*	Eagle Bancorp, Inc		6,885
	450,339		East West Bancorp, Inc		27,187
	424,100		EastWest Banking Corp		99
	39,200		Ehime Bank Ltd		431
	8,000		Eighteenth Bank Ltd		272
	9,288	*	Entegra Financial Corp		247
	13,217		Enterprise Bancorp, Inc		455
	63,960		Enterprise Financial Services Corp		3,393
	13,616		Equitable Group, Inc		726
	17,192	*	Equity Bancshares, Inc		675
	952,466		Erste Bank der Oesterreichischen Sparkassen AG.		39,543
	8,749	*	Esquire Financial Holdings, Inc		218

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,409		ESSA Bancorp, Inc	$	218
	711,927	*	Essent Group Ltd		31,503
	2,037,907	*	Eurobank Ergasias S.A.		1,539
	6,512		Evans Bancorp, Inc		306
	2,196,015		Far Eastern International Bank		777
	12,626	e	Farmers & Merchants Bancorp, Inc		538
	45,325		Farmers National Banc Corp		693
	21,991		FB Financial Corp		862
	300,007	*	FCB Financial Holdings, Inc		14,220
	48,942		Federal Agricultural Mortgage Corp (Class C)		3,533
	910,644		Federal Bank Ltd		889
	4,098	e	Fidelity D&D Bancorp, Inc		283
	27,936		Fidelity Southern Corp		692
	1,242,148		Fifth Third Bancorp		34,681
	37,646		Financial Institutions, Inc		1,182
	353,283		FinecoBank Banca Fineco S.p.A		4,711
	66,659		First Bancorp (NC)		2,700
	1,721,424	*	First Bancorp (Puerto Rico)		15,665
	14,208		First Bancorp, Inc		412
	19,233		First Bancshares, Inc		751
	19,508		First Bank		257
	201,400		First Busey Corp		6,253
	12,385		First Business Financial Services, Inc		287
	8,604		First Choice Bancorp		233
	3,884		First Citizens Bancshares, Inc (Class A)		1,757
	130,824		First Commonwealth Financial Corp		2,111
	22,920		First Community Bancshares, Inc		777
	9,424		First Community Corp		228
	20,234		First Connecticut Bancorp		598
	42,367		First Defiance Financial Corp		1,276
	128,840		First Financial Bancorp		3,827
	87,563	e	First Financial Bankshares, Inc		5,175
	21,672		First Financial Corp		1,088
	10,459,433		First Financial Holding Co Ltd		7,123
	11,460		First Financial Northwest, Inc		190
	81,532	*	First Foundation, Inc		1,274
	7,015	e	First Guaranty Bancshares, Inc		180
	462,462		First Hawaiian, Inc		12,560
	599,068		First Horizon National Corp		10,340
	187,003		First International Bank Of Israel Ltd		4,220
	17,202		First Internet Bancorp		524
	86,856		First Interstate Bancsystem, Inc		3,891
	174,333		First Merchants Corp		7,843
	19,019		First Mid-Illinois Bancshares, Inc		767
	135,763		First Midwest Bancorp, Inc		3,610
	11,707		First National Financial Corp		264
	14,480	*	First Northwest Bancorp		223
	61,972		First of Long Island Corp		1,348
	95,593		First Republic Bank		9,177
	2,721		First Savings Financial Group, Inc		186
	10,239		First United Corp		192
	227,948	*	Flagstar Bancorp, Inc		7,174
	42,792		Flushing Financial Corp		1,044

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	584,304		FNB Corp	$	7,432
	18,241	*	Franklin Financial Network, Inc		713
	4,575	e	FS Bancorp, Inc		255
	850,723		Fukuoka Financial Group, Inc		23,395
	345,808		Fulton Financial Corp		5,758
	2,475,000	*,g	Funding Circle Holdings plc		14,194
	207,806	e	Genworth MI Canada, Inc		6,852
	151,063	e	Genworth Mortgage Insurance Australia Ltd		269
	28,373		German American Bancorp, Inc		1,001
	369,271	*	Get Bank S.A.		57
	114,621		Glacier Bancorp, Inc		4,939
	17,056		Great Southern Bancorp, Inc		944
	233,805		Great Western Bancorp, Inc		9,864
	178,122		Green Bancorp, Inc		3,936
	4,883	e	Greene County Bancorp, Inc		157
	198,132		Gruh Finance Ltd		832
	3,977,941		Grupo Aval Acciones y Valores		1,564
	3,334,669		Grupo Financiero Banorte S.A. de C.V.		24,109
	54,000	e	Grupo Financiero Galicia S.A. (ADR) (Class B)		1,373
	2,070,265	e	Grupo Financiero Inbursa S.A.		3,248
	400,000	e	Grupo Supervielle S.A. (ADR)		3,068
	41,922		Guaranty Bancorp		1,245
	10,200		Guaranty Bancshares, Inc		308
	487,483		Gunma Bank Ltd		2,509
	384,000		Habib Bank Ltd		468
	275,700		Hachijuni Bank Ltd		1,264
	359,085		Hana Financial Group, Inc		14,418
	467,794		Hancock Holding Co		22,244
	996,173		Hang Seng Bank Ltd		27,030
	138,227		Hanmi Financial Corp		3,442
	25,049	*	HarborOne Bancorp, Inc		479
	40,511		HDFC Bank Ltd		1,119
	39,273		Heartland Financial USA, Inc		2,280
	175,499		Heritage Commerce Corp		2,618
	48,834		Heritage Financial Corp		1,717
	307,089		Hilltop Holdings, Inc		6,194
	1,788		Hingham Institution for Savings		393
	179,700		Hiroshima Bank Ltd		1,216
	13,400	e	Hokkoku Bank Ltd		518
	16,100	m	Hokuetsu Bank Ltd		349
	84,300		Hokuhoku Financial Group, Inc		1,185
	10,145		Home Bancorp, Inc		441
	465,241		Home Bancshares, Inc		10,189
	38,139	*,e	Home Capital Group, Inc		443
	34,294	*	HomeStreet, Inc		909
	54,093	*	HomeTrust Bancshares, Inc		1,577
	674,096		Hong Leong Bank BHD		3,352
	249,056		Hong Leong Credit BHD		1,161
	164,432		Hope Bancorp, Inc		2,659
	115,413		Horizon Bancorp		2,279
	2,018,026		Housing Development Finance Corp		48,848
	16,213	*	Howard Bancorp, Inc		287
	12,757,796		HSBC Holdings plc		111,317
	8,159,303		Hua Nan Financial Holdings Co Ltd		4,942

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	152,800		Huaxia Bank Co Ltd	$	181
	9,776,694		Huntington Bancshares, Inc		145,868
	147,692		Hyakugo Bank Ltd		597
	17,200		Hyakujushi Bank Ltd		507
	198,483		IBERIABANK Corp		16,147
	4,082,495		ICICI Bank Ltd		17,232
	469,360		ICICI Bank Ltd (ADR)		3,985
	872,396		IDFC Bank Ltd		437
	9,763	*,e	Impac Mortgage Holdings, Inc		73
	46,827		Independent Bank Corp (MA)		3,868
	79,053		Independent Bank Corp (MI)		1,870
	70,825		Independent Bank Group, Inc		4,696
	72,595		Indian Bank		228
	100,183,706		Industrial & Commercial Bank of China		73,143
	42,200		Industrial & Commercial Bank of China Ltd		35
	135,440		Industrial Bank Co Ltd		314
	246,308		Industrial Bank of Korea		3,385
	13,828,921		ING Groep NV		179,487
	79,424		International Bancshares Corp		3,574
	11,407	e	Investar Holding Corp		306
	6,659,885		Investimentos Itau S.A. - PR		16,656
	833,740		Investors Bancorp, Inc		10,230
	541,290	*,†,m	Irish Bank Resolution Corp Ltd		0
	3,952,546		Israel Discount Bank Ltd		13,160
	174,300		Iyo Bank Ltd		1,089
	145,900	*	Jammu & Kashmir Bank Ltd		83
	409,674		Japan Post Bank Co Ltd		4,841
	408,638		JB Financial Group Co Ltd		2,221
	96,200		Jimoto Holdings Inc		158
	12,397,749		JPMorgan Chase & Co		1,398,962
	16,455		Juroku Bank Ltd		419
	46,421		Jyske Bank		2,248
	268,740	*	Kansai Mirai Financial Group, Inc		2,520
	765,022		Karnataka Bank Ltd		1,027
	560,411		Karur Vysya Bank Ltd		601
	200,000		Kasikornbank PCL - NVDR		1,336
	1,872,397		Kasikornbank PCL (Foreign)		12,620
	774,333		KB Financial Group, Inc		37,713
	218,442		KBC Groep NV		16,243
	369,878		Kearny Financial Corp		5,123
	376,500		Keiyo Bank Ltd		3,169
	1,102,191		Keycorp		21,923
	279,632		Kiatnakin Bank PCL (Foreign)		651
	566,000		King’s Town Bank		569
	47,800		Kiyo Bank Ltd		766
	10,405		KJB Financial Group Co Ltd		105
	81,453		Komercni Banka AS		3,333
	9,689,324		Krung Thai Bank PCL (Foreign)		6,052
	220,600		Kyushu Financial Group, Inc		1,048
	99,255		Lakeland Bancorp, Inc		1,792
	99,352		Lakeland Financial Corp		4,618
	31,167	e	Laurentian Bank of Canada		1,028
	11,734		LCNB Corp		219

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	257,973		LegacyTexas Financial Group, Inc	$	10,990
	10,492	*,e	LendingTree, Inc		2,414
	2,039	e	Level One Bancorp, Inc		57
	1,210,150	*	Liberbank S.A.		673
	921,072		LIC Housing Finance Ltd		5,308
	32,989		Live Oak Bancshares, Inc		884
	128,174,435		Lloyds TSB Group plc		98,577
	22,966		Luther Burbank Corp		250
	448,614		M&T Bank Corp		73,815
	44,834		Macatawa Bank Corp		525
	3,594,388		Malayan Banking BHD		8,501
	1,067,101		Malaysia Building Society		260
	8,400	*	Malvern Bancorp, Inc		201
	389,904	*	Masraf Al Rayan		4,016
	234,285		MB Financial, Inc		10,803
	23,849		MBT Financial Corp		269
	315,900		MCB Bank Ltd		512
	6,680,786		Mediobanca S.p.A.		66,486
	11,852,734		Mega Financial Holding Co Ltd		10,671
	47,511		Mercantile Bank Corp		1,585
	19,723		Merchants Bancorp		501
	255,814		Meridian Bancorp, Inc		4,349
	29,990		Meta Financial Group, Inc		2,479
	57,097	*,e	Metro Bank plc		2,210
	4,899,764		Metropolitan Bank & Trust		6,078
	8,040	*	Metropolitan Bank Holding Corp		331
	485,244	*	MGIC Investment Corp		6,459
	5,194	e	Mid Penn Bancorp, Inc		151
	3,774	e	Middlefield Banc Corp		178
	28,522		Midland States Bancorp, Inc		916
	21,090	e	Midsouth Bancorp, Inc		325
	14,331		MidWestOne Financial Group, Inc		477
	25,271,913		Mitsubishi UFJ Financial Group, Inc		157,007
	258,155		Mitsui Trust Holdings, Inc		10,622
	10,800		Miyazaki Bank Ltd		316
	43,918		Mizrahi Tefahot Bank Ltd		769
	13,439,458		Mizuho Financial Group, Inc		23,422
	3,249,327	g	Moneta Money Bank AS		11,956
	20,368		Musashino Bank Ltd		588
	9,153		MutualFirst Financial, Inc		337
	12,619		MVB Financial Corp		227
	131,292		Nanto Bank Ltd		3,330
	1,889,292		National Australia Bank Ltd		37,929
	256,321		National Bank Holdings Corp		9,650
	3,180,306		National Bank of Abu Dhabi PJSC		12,410
	569,843	e	National Bank of Canada		28,460
	612,109	*	National Bank of Greece S.A.		1,244
	314,500		National Bank Of Pakistan		132
	9,437	e	National Bankshares, Inc		429
	23,883	*	National Commerce Corp		986
	56,986		NBT Bancorp, Inc		2,187
	305,874		Nedbank Group Ltd		5,722
	323,027		New York Community Bancorp, Inc		3,350
	18,166	*	Nicolet Bankshares, Inc		990

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,260		Nishi-Nippon Financial Holdings, Inc	$	1,171
	96,177	*	NMI Holdings, Inc		2,178
	1,065,272		Nordea Bank AB		11,591
	198,900		North Pacific Bank Ltd		674
	10,319		Northeast Bancorp		224
	59,843		Northfield Bancorp, Inc		953
	9,566		Northrim BanCorp, Inc		397
	126,937		Northwest Bancshares, Inc		2,199
	78,457	*	Norwegian Finans Holding ASA		959
	8,010	e	Norwood Financial Corp		314
	10,020		Oak Valley Bancorp		197
	746,000		O-Bank Co Ltd		202
	158,387		OceanFirst Financial Corp		4,311
	1,819	e	Oconee Federal Financial Corp		49
	367	*	Ocwen Financial Corp		1
	216,546	e	OFG Bancorp		3,497
	109,600		Ogaki Kyoritsu Bank Ltd		2,806
	5,277	e	Ohio Valley Banc Corp		193
	33,300		Oita Bank Ltd		1,212
	20,171		Old Line Bancshares, Inc		638
	204,334		Old National Bancorp		3,944
	55,090		Old Second Bancorp, Inc		851
	1,252,885		OneSavings Bank plc		6,631
	15,852	*	OP Bancorp		184
	27,957		Opus Bank		766
	40,225		Origin Bancorp, Inc		1,514
	54,250		Oritani Financial Corp		844
	10,531		Orrstown Financial Services, Inc		251
	370,063		OTP Bank		13,714
	3,253,725		Oversea-Chinese Banking Corp		27,226
	16,411		Pacific City Financial Corp		317
	23,610	*	Pacific Mercantile Bancorp		221
	61,651	*	Pacific Premier Bancorp, Inc		2,293
	332,553		PacWest Bancorp		15,846
	631,388		Paragon Group of Cos plc		3,938
	18,146		Park National Corp		1,915
	8,416		Parke Bancorp, Inc		189
	26,580		PCSB Financial Corp		541
	13,480	*,e	PDL Community Bancorp		204
	75,048		Peapack Gladstone Financial Corp		2,318
	6,581		Penns Woods Bancorp, Inc		286
	26,374		PennyMac Financial Services, Inc		551
	7,484	e	Peoples Bancorp of North Carolina, Inc		216
	49,062		Peoples Bancorp, Inc		1,719
	10,572	e	Peoples Financial Services Corp		448
	215,782		People’s United Financial, Inc		3,694
	20,874		People’s Utah Bancorp		709
	4,065,840	*,e	Permanent TSB Group Holdings plc		10,089
	321,530	*	PHH Corp		3,534
	3,000,000	*	Philippine National Bank		2,387
	173,200		Ping An Bank Co Ltd		278
	148,213		Pinnacle Financial Partners, Inc		8,915
	308,953	*	Piraeus Bank S.A.		674

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,851,875		PNC Financial Services Group, Inc	$	252,207
	289,930		Popular, Inc		14,859
	3,396,000	g	Postal Savings Bank of China Co Ltd		2,134
	1,132,579		Powszechna Kasa Oszczednosci Bank Polski S.A.		13,157
	50,615		Preferred Bank		2,961
	15,871		Premier Financial Bancorp, Inc		293
	122,567		Prosperity Bancshares, Inc		8,500
	5,792	*	Provident Bancorp, Inc		168
	182,152		Provident Financial Services, Inc		4,472
	13,416		Prudential Bancorp, Inc		232
	63,661,300		PT Bank Bukopin Tbk		1,529
	13,252,674		PT Bank Central Asia Tbk		21,466
	2,754,407		PT Bank Danamon Indonesia Tbk		1,331
	1,637,400		PT Bank Jabar Banten Tbk		223
	38,032,679		PT Bank Mandiri Persero Tbk		17,138
	8,364,719		PT Bank Negara Indonesia		4,154
	44,500,000	*	PT Bank Pan Indonesia Tbk		2,925
	24,306,900		PT Bank Pembangunan Daerah Jawa Timur Tbk		1,060
	3,012,300		PT Bank Tabungan Negara Tbk		531
	3,249,884		Public Bank BHD		19,628
	104,992	*	Qatar First Bank		144
	195,799	*	Qatar Islamic Bank SAQ		7,542
	474,283	*	Qatar National Bank		23,130
	76,683		QCR Holdings, Inc		3,133
	911,043		Radian Group, Inc		18,831
	79,605		Raiffeisen International Bank Holding AG.		2,291
	19,733		RBB Bancorp		483
	64,538	g	RBL Bank Ltd		456
	987,800		Regional SAB de C.V.		6,217
	1,488,375		Regions Financial Corp		27,312
	64,518		Renasant Corp		2,659
	13,169		Republic Bancorp, Inc (Class A)		607
	54,775	*,e	Republic First Bancorp, Inc		392
	5,099,755		Resona Holdings, Inc		28,632
	1,079,577		RHB Capital BHD		1,408
	28,274		Riverview Bancorp, Inc		250
	5,200	*,†,m	Roskilde Bank		0
	1,878,201		Royal Bank of Canada		150,559
	2,680,305	*	Royal Bank of Scotland Group plc		8,684
	45,181		S&T Bancorp, Inc		1,959
	23,500	*	San ju San Financial Group, Inc		497
	141,326		Sandy Spring Bancorp, Inc		5,556
	87,100		San-In Godo Bank Ltd		765
	8,542	e	SB One Bancorp		215
	630,872		Sberbank of Russia (ADR)		7,933
	4,068,013		Sberbank of Russian Federation (ADR)		51,438
	62,166	*	Seacoast Banking Corp of Florida		1,815
	293,000		Security Bank Corp		835
	16,865	*	Select Bancorp, Inc		209
	151,180	e	Senshu Ikeda Holdings, Inc		507
	62,647		ServisFirst Bancshares, Inc		2,453
	713,293	e	Seven Bank Ltd		2,253
	169,300		Shanghai Pudong Development Bank Co Ltd		261
	30,000	e	Shiga Bank Ltd		772

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,400		Shikoku Bank Ltd	$	322
	1,071,423		Shinhan Financial Group Co Ltd		43,295
	166,057		Shinsei Bank Ltd		2,713
	1,282,000		Shizuoka Bank Ltd		11,504
	23,721		Shore Bancshares, Inc		423
	17,406		SI Financial Group, Inc		244
	2,192,953		Siam Commercial Bank PCL (ADR)		10,103
	1,781,117		Siam Commercial Bank PCL (Foreign)		8,206
	18,926		Sierra Bancorp		547
	17,007		Signature Bank		1,953
	126,369		Simmons First National Corp (Class A)		3,722
	11,896,459		SinoPac Financial Holdings Co Ltd		4,343
	51,319	g	Skandiabanken ASA		559
	1,387,761		Skandinaviska Enskilda Banken AB (Class A)		15,471
	16,684	*	SmartFinancial, Inc		393
	642,290		Societe Generale		27,580
	2,917,528		South Indian Bank Ltd		529
	85,347		South State Corp		6,998
	9,261	*	Southern First Bancshares, Inc		364
	8,886		Southern Missouri Bancorp, Inc		331
	58,421		Southern National Bancorp of Virginia, Inc		946
	43,358		Southside Bancshares, Inc		1,509
	57,564		Spar Nord Bank AS		534
	48,891		Sparebank  Oestlandet		542
	376,688		Sparebanken Midt-Norge		4,208
	400,621		Sparebanken Nord-Norge		3,395
	3,193	*	Spirit of Texas Bancshares, Inc		69
	2,335		St Galler Kantonalbank		1,181
	2,262,791		Standard Bank Group Ltd		27,981
	1,731,636		Standard Chartered plc		14,347
	92,701		State Bank & Trust Co		2,798
	1,943,506	*	State Bank of India		7,123
	40,788		Sterling Bancorp, Inc		461
	135,887		Sterling Bancorp/DE		2,990
	86,440		Stock Yards Bancorp, Inc		3,138
	1,543,589		Sumitomo Mitsui Financial Group, Inc		62,120
	15,210		Summit Financial Group, Inc		353
	2,168,951		SunTrust Banks, Inc		144,864
	115,600	e	Suruga Bank Ltd		578
	99,088	*	SVB Financial Group		30,800
	325,438		Svenska Handelsbanken AB		4,104
	404,977		Swedbank AB (A Shares)		10,016
	120,357		Sydbank AS		3,538
	275,923		Synovus Financial Corp		12,635
	1,308,246		Taichung Commercial Bank		461
	10,774,278		Taishin Financial Holdings Co Ltd		5,203
	4,111,815	*	Taiwan Business Bank		1,495
	14,179,015		Taiwan Cooperative Financial Holding		8,636
	99,495		TCF Financial Corp		2,369
	57,455		TCS Group Holding plc (ADR)		1,063
	403,397	*	TCS Group Holding plc (ADR)		7,463
	9,835		Territorial Bancorp, Inc		291
	126,513	*	Texas Capital Bancshares, Inc		10,456

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	184,554		TFS Financial Corp	$	2,770
	526,700	*	Thanachart Capital PCL		875
	300,992	*	The Bancorp, Inc		2,887
	122,284	e	Timbercreek Financial Corp		885
	8,722		Timberland Bancorp, Inc		272
	229,280		Tisco Bank PCL		594
	9,901,387		TMB Bank PCL (Foreign)		704
	75,000		Tochigi Bank Ltd		251
	121,700	e	Toho Bank Ltd		451
	18,593	e	Tokyo TY Financial Group, Inc		396
	269,000		Tomony Holdings, Inc		1,148
	49,091		Tompkins Trustco, Inc		3,986
	2,750,859		Toronto-Dominion Bank		167,162
	24,100		Towa Bank Ltd		224
	88,481		TowneBank		2,730
	66,020		Trico Bancshares		2,550
	147,908	*	Tristate Capital Holdings, Inc		4,082
	70,460	*	Triumph Bancorp, Inc		2,692
	121,420		Trustco Bank Corp NY		1,032
	90,420		Trustmark Corp		3,043
	2,164,024		Turkiye Garanti Bankasi AS		2,759
	560,061		Turkiye Halk Bankasi AS		621
	1,329,326		Turkiye Is Bankasi (Series C)		971
	11,316,703		Turkiye Sinai Kalkinma Bankasi AS		1,609
	631,984		Turkiye Vakiflar Bankasi Tao		396
	155,032		UMB Financial Corp		10,992
	542,351		Umpqua Holdings Corp		11,281
	562,792	g	Unicaja Banco S.A.		917
	5,474,453		UniCredit S.p.A.		82,143
	159,412	*	Union Bank of India		145
	86,785		Union Bankshares Corp		3,344
	5,412	e	Union Bankshares, Inc		288
	541,100		United Bank Ltd		671
	134,058		United Bankshares, Inc		4,873
	321,739		United Community Banks, Inc		8,973
	115,337		United Community Financial Corp		1,115
	108,505		United Financial Bancorp, Inc (New)		1,826
	2,040,426		United Overseas Bank Ltd		40,336
	22,184		United Security Bancshares		246
	11,642		Unity Bancorp, Inc		267
	38,124		Univest Corp of Pennsylvania		1,008
	1,133,212		US Bancorp		59,845
	14,258		Valiant Holding		1,612
	428,516		Valley National Bancorp		4,821
	341,597		Van Lanschot Kempen NV (ADR)		9,018
	38,318	*	Veritex Holdings, Inc		1,083
	635,712		Vijaya Bank		395
	947,982		Virgin Money Holdings UK plc		4,729
	4,163,644	*	VTB Bank OJSC (GDR)		5,575
	143,182		VTB Bank OJSC (GDR)		192
	150,402		Walker & Dunlop, Inc		7,953
	110,720		Washington Federal, Inc		3,543
	26,618		Washington Trust Bancorp, Inc		1,472
	62,873		Waterstone Financial, Inc		1,078

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	119,233		Webster Financial Corp	$	7,030
	11,443,521		Wells Fargo & Co		601,471
	70,302		WesBanco, Inc		3,134
	25,035		West Bancorporation, Inc		588
	34,599	e	Westamerica Bancorporation		2,081
	366,626	*	Western Alliance Bancorp		20,857
	36,055		Western New England Bancorp, Inc		389
	3,145,068		Westpac Banking Corp		63,249
	170,780		Wintrust Financial Corp		14,506
	634,545	*	WMIH Corp		882
	1,204,708		Woori Bank		18,344
	172,412		WSFS Financial Corp		8,129
	14,900	e	Yamagata Bank Ltd		322
	86,592	e	Yamaguchi Financial Group, Inc		944
	18,200		Yamanashi Chuo Bank Ltd		327
	1,683,104	*	Yapi ve Kredi Bankasi		523
	7,862,573		Yes Bank Ltd		19,936
	2,778,626		Zions Bancorporation		139,348
			TOTAL BANKS		10,021,126
CAPITAL GOODS - 7.7%
	1,391,858		3M Co		293,278
	311,226		A.O. Smith Corp		16,610
	64,735		Aalberts Industries NV		2,757
	55,335		Aaon, Inc		2,092
	57,927		AAR Corp		2,774
	973,765		ABB Ltd		23,034
	2,087,277		Aboitiz Equity Ventures, Inc		1,891
	215,000		AcBel Polytech, Inc		144
	175,810		ACS Actividades Construccion y Servicios S.A.		7,467
	485,256		Acter Co Ltd		3,196
	80,647	e	Actuant Corp (Class A)		2,250
	46,777		Acuity Brands, Inc		7,353
	555,859		Adani Enterprises Ltd		1,002
	1,125,700	e	Advan Co Ltd		9,752
	175,089		Advanced Drainage Systems, Inc		5,410
	57,800		AECC Aviation Power Co Ltd		202
	280,549	*	Aecom Technology Corp		9,163
	88,848		Aecon Group, Inc		1,116
	43,266	*	Aegion Corp		1,098
	433,577	*	AerCap Holdings NV		24,939
	92,895	*	Aerojet Rocketdyne Holdings, Inc		3,158
	28,199	*	Aerovironment, Inc		3,163
	29,036	*,e	AFG Arbonia-Forster Hldg		394
	10,727		AG Growth International Inc		523
	41,046		AGCO Corp		2,495
	599,040	g	Ahlsell AB		3,353
	51,450		AIA Engineering Ltd		1,263
	118,899	e	Aica Kogyo Co Ltd		4,803
	24,500	e	Aichi Corp		133
	31,400		Aida Engineering Ltd		281
	185,038		Air Lease Corp		8,490
	1,246,067		Airbus SE		156,435

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	239,602		Aircastle Ltd	$	5,250
	139,000	*	Airtac International Group		1,361
	12,858		Alamo Group, Inc		1,178
	74,013		Alarko Holding AS		30
	67,932		Albany International Corp (Class A)		5,401
	220,058		Alfa Laval AB		5,954
	2,993,214		Alfa S.A. de C.V. (Class A)		3,859
	33,459	e,g	Alimak Group AB		472
	226,971		Allegion plc		20,557
	27,612,565	*	Alliance Global Group, Inc		6,378
	23,348		Allied Motion Technologies, Inc		1,271
	784,008		Allison Transmission Holdings, Inc		40,776
	26,085		Alstom Projects India Ltd		268
	52,651		Alstom RGPT		2,355
	75,529		Alstom T&D India Ltd		246
	38,835	e	Altra Holdings, Inc		1,604
	361,724		Amada Co Ltd		3,862
	22,671		Amara Raja Batteries Ltd		231
	26,000	*	Ameresco, Inc		355
	10,329	e	American Railcar Industries, Inc		476
	19,070	*	American Woodmark Corp		1,496
	115,629		Ametek, Inc		9,149
	13,718		Andritz AG.		800
	19,000		Anest Iwata Corp		190
	49,036		Apogee Enterprises, Inc		2,026
	225,289		Applied Industrial Technologies, Inc		17,629
	11,653	*	Aprogen KIC, Inc		108
	457,227		Arabtec Holding Co		240
	45,168		Arcadis NV		756
	1,209,981		Arconic, Inc		26,632
	38,285		Argan, Inc		1,646
	337,714	*	Armstrong Flooring, Inc		6,113
	207,264	*	Armstrong World Industries, Inc		14,426
	31,100		Asahi Diamond Industrial Co Ltd		219
	268,529		Asahi Glass Co Ltd		11,145
	331,381		Aselsan Elektronik Sanayi Ve Ticaret AS		1,508
	1,357,988		Ashok Leyland Ltd		2,232
	40,954		Ashoka Buildcon Ltd		59
	1,589,376		Ashtead Group plc		50,428
	1,304,208		Assa Abloy AB		26,141
	60,876		Astec Industries, Inc		3,069
	47,288		Astral Polytechnik Ltd		642
	28,471	*	Astronics Corp		1,238
	858,016	e	Asunaro Aoki Construction Co Ltd		7,310
	687,800	*	Atkore International Group, Inc		18,247
	321,516		Atlas Copco AB (A Shares)		9,246
	173,825		Atlas Copco AB (B-Shares)		4,631
	47,933	*	ATS Automation Tooling Systems, Inc		891
	5,077	g	Aumann AG.		350
	3,536,263		Austal Ltd		5,036
	80,300		AVIC Aircraft Co Ltd		185
	31,100	*	AVIC Shenyang Aircraft Co Ltd		172
	2,225,019		AviChina Industry & Technology Co		1,467
	144,269	*	Axon Enterprise, Inc		9,872

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	92,188		AZZ, Inc	$	4,655
	89,273	e	Badger Daylighting Ltd		2,046
	3,026,973		BAE Systems plc		24,821
	644,758		Balfour Beatty plc		2,300
	104,835	*,e	Ballard Power Systems, Inc		450
	71,800		Bando Chemical Industries Ltd		854
	142,000	*	Baoye Group Co Ltd		81
	268,267		Barloworld Ltd		2,337
	167,434		Barnes Group, Inc		11,893
	6,417		Bauer AG.		122
	8,951		BayWa AG.		298
	53	*,†,m	Beacon Power Corp		0	^
	92,056	*	Beacon Roofing Supply, Inc		3,332
	183,000	g	Beijing Urban Construction Design & Development Group Co Ltd		75
	5,193		BEML Ltd		44
	1,948,037	*	Berjaya Corp BHD		136
	808,000		BES Engineering Corp		222
	251,371		Besalco S.A.		230
	16,915		BGF Co Ltd		143
	1,095,115		Bharat Heavy Electricals		1,035
	560,646	e	Bidvest Group Ltd		7,334
	9,379		Biesse S.p.A.		333
	1,667,656		Bizlink Holdings Inc		7,920
	19,803	*,e	Blue Bird Corp		485
	13,935		Blue Star Ltd		109
	11,464	*	BlueLinx Holdings, Inc		361
	205,972	*	BMC Stock Holdings, Inc		3,841
	27,484		Bobst Group AG.		2,145
	291,800	g	BOC Aviation Ltd		2,264
	209,568		Bodycote plc		2,472
	1,567,102		Boeing Co		582,805
	8,729,035	*	Bombardier, Inc		31,087
	56,677	e	Boskalis Westminster		1,785
	3,788		Bossard Holding AG.		752
	281,858		Bouygues S.A.		12,193
	58,475		Brenntag AG.		3,606
	56,264		Briggs & Stratton Corp		1,082
	51		Brookfield Business Partners LP		2
	5,620		Bucher Industries AG.		1,810
	8,684		Budimex S.A.		244
	35,882	e	Bufab AB		418
	284,080	*	Builders FirstSource, Inc		4,170
	30,400	e	Bunka Shutter Co Ltd		229
	325,462		Bunzl plc		10,232
	24,324		Burckhardt Compression Holding AG.		8,443
	3,220	e	Burkhalter Holding AG.		255
	142,426		BWX Technologies, Inc		8,907
	179,314		CAE, Inc		3,640
	48,324	e	Caesarstone Sdot-Yam Ltd		896
	24,502	*	CAI International, Inc		560
	15,173		Carbone Lorraine		534
	27,440		Carborundum Universal Ltd		146

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	24,513	e	Cargotec Corp (B Shares)	$	1,100
	73,121		Carlisle Cos, Inc		8,906
	1,494,058		Caterpillar, Inc		227,829
	124,500		Central Glass Co Ltd		3,235
	2,492		Cera Sanitaryware Ltd		88
	282,625		CH Karnchang PCL		238
	400,000		CH Karnchang PCL (ADR)		337
	40,786	*	Chart Industries, Inc		3,195
	213,376		Cheil Industries, Inc		24,899
	188,825		Chemring Group plc		529
	1,007,844		Chicony Power Technology Co Ltd		1,390
	1,081,500		China Aircraft Leasing Group Holdings Ltd		1,173
	48,800		China Avionics Systems Co Ltd		103
	78,200		China Communications Construction Co Ltd		145
	4,373,192		China Communications Construction Co Ltd (Hong Kong)		4,459
	1,873,000		China Conch Venture Holdings Ltd		6,541
	268,075		China Fangda Group Co Ltd		131
	63,000		China Gezhouba Group Co Ltd		67
	298,000	e	China High Speed Transmission Equipment Group Co Ltd		343
	70,000		China International Marine Containers Group Co Ltd		121
	520,500		China International Marine Containers Group Co Ltd (Hong Kong)		551
	175,800		China National Chemical Engineering Co Ltd		171
	76,600		China Nuclear Engineering Corp Ltd		86
	6,464,443		China Railway Construction Corp		8,730
	204,500		China Railway Construction Corp Ltd		332
	8,967,127		China Railway Group Ltd		8,886
	188,080	e	China Singyes Solar Technologies Holdings Ltd		65
	32,000		China Spacesat Co Ltd		86
	667,060		China State Construction Engineering Corp Ltd		532
	1,942,685		China State Construction International Holdings Ltd		2,058
	114,371		China Yuchai International Ltd		1,975
	268,100	e	Chip Eng Seng Corp Ltd		164
	108,500		Chiyoda Corp		883
	6,600		Chiyoda Integre Co Ltd		137
	15,444,000		Chongqing Machinery & Electric Co Ltd		1,144
	18,900		Chudenko Corp		431
	649,375		Chung Hsin Electric & Machinery Manufacturing Corp		442
	478,532		CIMIC Group Ltd		17,761
	208,509		CIR-Compagnie Industriali Riunite S.p.A.		238
	22,169		CIRCOR International, Inc		1,053
	10,665,796		Citic Pacific Ltd		15,886
	1,671,000	e	Citic Resources Holdings Ltd		164
	12,224		CJ Corp		1,488
	3,557,225		CK Hutchison Holdings Ltd		40,946
	36,600	e	CKD Corp		470
	6,317,683		CNH Industrial NV		75,815
	8,116,074	e	CNH Industrial NV (NYSE)		97,474
	1,840,661	*	Cobham plc		2,797
	17,099	g	Cochin Shipyard Ltd		92
	616,128	*	Colfax Corp		22,218

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,790		Columbus McKinnon Corp	$	2,759
	332,406		Comfort Systems USA, Inc		18,748
	37,740	*	Commercial Vehicle Group, Inc		346
	2,713,311		Compagnie de Saint-Gobain		116,946
	7,806		Compagnie d’Entreprises CFE		943
	408,800		COMSYS Holdings Corp		12,107
	12,259		Construcciones y Auxiliar de Ferrocarriles S.A.		509
	72,974	*	Continental Building Products Inc		2,740
	1,618,450		Continental Engineering Corp		750
	3,171		Conzzeta AG.		3,448
	4,775,100	*,e	Cosco Corp Singapore Ltd		1,448
	14,285		Cosel Co Ltd		163
	248,887		Costain Group plc		1,353
	124,203		Cramo Oyj (Series B)		2,802
	111,823		Crane Co		10,998
	231,325	*	Crompton Greaves Ltd		143
	4,130,321		CRRC Corp Ltd		3,767
	174,200		CRRC Corp Ltd (Class A)		219
	2,882		CS Wind Corp		87
	98,746	*	CSBC Corp Taiwan		129
	33,432	*	CSW Industrials, Inc		1,795
	2,382,000		CTCI Corp		3,831
	33,438		Cubic Corp		2,443
	36,609		Cummins, Inc		5,347
	95,562		Curtiss-Wright Corp		13,132
	116,952		Daelim Industrial Co		8,709
	4,797		Daetwyler Holding AG.		914
	203,394	*	Daewoo Engineering & Construction Co Ltd		1,085
	58,678		Daewoo International Corp		1,107
	27,500		Dai-Dan Co Ltd		693
	109,093	e	Daifuku Co Ltd		5,560
	13,128		Daihen Corp		336
	81,200		Daiho Corp		2,302
	24,000		Daiichi Jitsugyo Co Ltd		826
	168,950		Daikin Industries Ltd		22,488
	16,800		Daiwa Industries Ltd		184
	7,750		Danieli & Co S.p.A.		207
	33,079		Danieli & Co S.p.A. (RSP)		595
	4,970		Dassault Aviation S.A.		9,198
	90,651		DCC plc		8,222
	1,415,417		Deere & Co		212,780
	7,900		Denyo Co Ltd		130
	641,470		Deutz AG.		5,706
	79,160	g	Dilip Buildcon Ltd		714
	198,452		Diploma plc		3,658
	55,495	*,e	DIRTT Environmental Solutions		281
	19,224		DMC Global, Inc		784
	4,354,580		DMCI Holdings, Inc		917
	16,579		DMG Mori AG.		849
	508,343	*	Dogan Sirketler Grubu Holdings		91
	44,047		Donaldson Co, Inc		2,566
	14,859		Dongkuk Structures & Construction Co Ltd		53
	53,201		Doosan Bobcat, Inc		1,938

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	70,955	*	Doosan Heavy Industries and Construction Co Ltd	$	953
	468,580	*	Doosan Infracore Co Ltd		4,138
	29,917		Douglas Dynamics, Inc		1,313
	507,159		Dover Corp		44,899
	392,953	*	Drake & Scull International PJSC		38
	190,575	*,e	Drone Delivery Canada Corp		214
	2,325,192	*	Dubai Investments PJSC		1,197
	42,775	*	Ducommun, Inc		1,747
	50,549		Duerr AG.		2,273
	21,670	*	DXP Enterprises, Inc		868
	40,838	*	Dycom Industries, Inc		3,455
	1,377,900		Dynasty Ceramic PCL		111
	800		e Tec E&C Ltd		72
	7,606		Eastern Co		216
	1,071,185		Eaton Corp		92,904
	162,965		Ebara Corp		5,623
	14,279		Eicher Motors Ltd		4,765
	92,855		Eiffage S.A.		10,373
	293,900		Ekovest BHD		44
	20,183		Elbit Systems Ltd		2,565
	22,857		Elco Holdings Ltd		437
	1,375		Electra Israel Ltd		340
	922,000		ElSwedy Cables Holding Co		917
	73,149	*,e,g	Eltel AB		173
	357,495		EMCOR Group, Inc		26,851
	558,849		Emerson Electric Co		42,797
	1,821,226		Empresa Brasileira de Aeronautica S.A.		8,943
	80,054		Encore Wire Corp		4,011
	30,341	*,e	Energous Corp		307
	51,361	*,e	Energy Recovery, Inc		460
	72,831		EnerSys		6,346
	23,866	*	Engility Holdings, Inc		859
	84,662		Engineers India Ltd		139
	114,933	*,e	Enphase Energy, Inc		557
	27,153		EnPro Industries, Inc		1,980
	354,000		Enric Energy Equipment Holdings Ltd		369
	5,200	e	EnviroStar, Inc		203
	255,230	*	Epiroc AB		2,852
	395,092	*	Epiroc AB		4,068
	212,926		Equifax, Inc		27,802
	68,416		ESCO Technologies, Inc		4,656
	38,373		Escorts Ltd		324
	35,418	*	Esterline Technologies Corp		3,221
	857,226	*	Evoqua Water Technologies Corp		15,241
	65,867		Exco Technologies Ltd		482
	13,093		FACC AG.		298
	168,529		Famur S.A.		256
	61,700		Fangda Carbon New Material Co Ltd		201
	36,277		Fanuc Ltd		6,825
	3,632,517		Far Eastern Textile Co Ltd		4,248
	489,529		Fastenal Co		28,402
	10,310,000	*,e	FDG Electric Vehicles Ltd		128
	5,900	*,e	FDK Corp		78
	374,745		Federal Signal Corp		10,036

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,297		Feintool International Holding AG.	$	148
	169,642		Ferguson plc		14,389
	455,606		Ferrovial S.A.		9,428
	4,875	*,e	FIGEAC-AERO		83
	322,037		Fincantieri S.p.A		521
	238,644		Finmeccanica S.p.A.		2,868
	300,688		Finning International, Inc		7,345
	40,852		Finolex Cables Ltd		299
	264,000	e	First Tractor Co		77
	54,720		Flowserve Corp		2,993
	26,667		FLSmidth & Co AS		1,658
	32,105		Fluidra S.A.		478
	256,535		Fluor Corp		14,905
	49,081	*	Fomento de Construcciones y Contratas S.A.		734
	1,625		Force Motors Ltd		41
	976,413	e	Fortive Corp		82,214
	330,245		Fortune Brands Home & Security, Inc		17,292
	2,838,124	e	Fosun International		5,001
	131,731	*	Foundation Building Materials, Inc		1,643
	62,503		Franklin Electric Co, Inc		2,953
	29,235		Freightcar America, Inc		470
	25,930		Fudo Tetra Corp		481
	76,048	*,e	FuelCell Energy, Inc		81
	31,108		Fuji Electric Holdings Co Ltd		1,246
	372,492		Fuji Machine Manufacturing Co Ltd		5,971
	154,178		Fujikura Ltd		728
	40,400	e	Fujitec Co Ltd		542
	14,600		Fukuda Corp		730
	7,900		Fukushima Industries Corp		403
	7,607,500	e	Fullshare Holdings Ltd		3,653
	29,500	e	Furukawa Co Ltd		435
	90,500		Furukawa Electric Co Ltd		3,011
	139,519	*,e	Futaba Corp/Chiba		2,511
	70,191		Galliford Try plc		923
	2,109,003		Gamuda BHD		1,713
	27,236	*	Gardner Denver Holdings, Inc		772
	76,346	*	Gates Industrial Corp plc		1,489
	50,900		GATX Corp		4,407
	54,838		Gayatri Projects Ltd		127
	23,716		GEA Group AG.		844
	6,018		Geberit AG.		2,793
	6,900		Gecoss Corp		74
	197,472	*	GEK Group of Cos S.A.		1,162
	11,755	*	Gencor Industries, Inc		142
	176,911	*	Generac Holdings, Inc		9,980
	533,585		General Dynamics Corp		109,236
	12,968,171	n	General Electric Co		146,411
	30,619	*,e	General Finance Corp		488
	20,344		Georg Fischer AG.		23,043
	202,000		George Kent Malaysia BHD		64
	41,941	*	Gibraltar Industries, Inc		1,913
	10,500	e	Giken Seisakusho Co, Inc		279
	21,467	e,g	Gima TT S.p.A		270

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	330,216		Global Brass & Copper Holdings, Inc	$	12,185
	32,656		Glory Ltd		797
	1,278,756	*	GMR Infrastructure Ltd		286
	434,574	*	GMS, Inc		10,082
	74,079		Godrej Industries Ltd		528
	113,378		Gorman-Rupp Co		4,138
	210,143		Graco, Inc		9,738
	370,949		GrafTech International Ltd		7,237
	373,372		Grafton Group plc		3,684
	12,571		Graham Corp		354
	150,463		Granite Construction, Inc		6,876
	154,325		Graphite India Ltd		1,796
	75,335	*	Great Lakes Dredge & Dock Corp		467
	37,730		Greaves Cotton Ltd		69
	42,625		Greenbrier Cos, Inc		2,562
	153,665		Griffon Corp		2,482
	461,584		Grupo Carso S.A. de C.V. (Series A1)		1,531
	113,600	e	Grupo Rotoplas SAB de C.V.		140
	93,570	e	GS Engineering & Construction Corp		4,410
	41,800	e	GS Yuasa Corp		1,029
	1,382,493		Gunkul Engineering PCL		134
	128,307		GWA International Ltd		289
	105,703		H&E Equipment Services, Inc		3,993
	790,813		Haitian International Holdings Ltd		1,760
	22,116		Haldex AB		217
	171,996		Hangzhou Steam Turbine Co		145
	39,160	*	Hanjin Heavy Industries & Construction Co Ltd		91
	35,600		Han’s Laser Technology Industry Group Co Ltd		219
	332,479		Hanwa Co Ltd		11,058
	111,457		Hanwha Corp		3,296
	34,375		Hanwha Corp (3P)		459
	710,100		HAP Seng Consolidated BHD		1,698
	406,000	e	Harbin Power Equipment		128
	21,500	e	Harmonic Drive Systems, Inc		792
	288,537		Harris Corp		48,823
	788,917	*	Harsco Corp		22,524
	268,973	*	Havells India Ltd		2,206
	270,700	e	Hazama Ando Corp		2,066
	54,113	*,e	HC2 Holdings, Inc		331
	1,505,468	*	HD Supply Holdings, Inc		64,419
	34,969	*	HDC Hyundai Development Co-Engineering & Construction		1,605
	39,714		HEG Ltd		1,834
	13,896	e	HEICO Corp		1,287
	286,963		HEICO Corp (Class A)		21,666
	161,341	*	Heidelberger Druckmaschinen		431
	321,989	*	Hellenic Technodomiki Tev S.A.		535
	83,932	*	Herc Holdings, Inc		4,297
	108,352		Hexcel Corp		7,265
	9,500		Hibiya Engineering Ltd		165
	153,746		Hillenbrand, Inc		8,041
	313,705	*	Hindustan Construction Co		46
	879,884		Hino Motors Ltd		9,635
	5,400	e	Hirata Corp		389

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,400		Hisaka Works Ltd	$	120
	57,067		Hitachi Construction Machinery Co Ltd		1,908
	107,200		Hitachi Zosen Corp		448
	217,085		Hiwin Technologies Corp		1,794
	3,000,000	*	HNA International Investment Holdings Ltd		75
	59,910		Hochtief AG.		9,932
	3,875,521		Honeywell International, Inc		644,887
	458,000	e	Hong Kong International Construction Investment Management Group Co Ltd		106
	47,500		Hong Leong Industries BHD		122
	900,500		Hopewell Holdings		2,964
	21,609		Hoshizaki Electric Co Ltd		2,237
	94,261		Hosken Consolidated Investments Ltd		853
	4,900		Hosokawa Micron Corp		267
	2,020,814		Howden Joinery Group plc		12,341
	2,285,000	*,†,m	Hsin Chong Construction Group Ltd		3
	77,200		Huangshi Dongbei Electrical Appliance Co Ltd		96
	20,772		Hubbell, Inc		2,775
	8,550		Huber & Suhner AG.		639
	51,613		Hudaco Industries Ltd		528
	21,531		Huntington Ingalls		5,514
	8,633		Hurco Cos, Inc		389
	4,857		Hy-Lok Corp		104
	3,869	*	Hyosung Heavy Industries Corp		207
	41,679		Hyster-Yale Materials Handling, Inc		2,565
	3,616	*	Hyundai Construction Equipment Co Ltd		399
	21,781		Hyundai Development Co		450
	3,263	*	Hyundai Electric & Energy System Co Ltd		203
	8,964	e	Hyundai Elevator Co Ltd		900
	84,629		Hyundai Engineering & Construction Co Ltd		5,147
	34,845	*	Hyundai Heavy Industries		4,223
	7,898	*	Hyundai Mipo Dockyard		737
	8,469	*	Hyundai Robotics Co Ltd		3,092
	18,124	*	Hyundai Rotem Co Ltd		498
	53,400	e	Idec Corp		1,171
	66,697		IDEX Corp		10,049
	12,543	*	IES Holdings, Inc		245
	3,200,112		IJM Corp BHD		1,391
	55,290		Illinois Tool Works, Inc		7,803
	8,323		IMARKETKOREA, Inc		49
	213,634		IMI plc		3,050
	9,494		Implenia AG.		603
	108,157	e	Impregilo S.p.A.		266
	40,686		IMS-Intl Metal Service		972
	50,100		Inaba Denki Sangyo Co Ltd		2,212
	25,900		Inabata & Co Ltd		398
	36,551		Indus Holding AG.		2,269
	11,229		Industria Macchine Automatiche S.p.A.		939
	196,662	*	Industries Qatar QSC		6,755
	93,431		Indutrade AB		2,526
	25,119	*,e	Infrastructure and Energy Alternatives, Inc		264
	2,098,102		Ingersoll-Rand plc		214,636
	24,487		Insteel Industries, Inc		879

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,297		Interpump Group S.p.A.	$	1,907
	408		Interroll Holding AG.		795
	100,002	e	Invicta Holdings Ltd		249
	35,012		Inwido AB		264
	83,000		Iochpe-Maxion S.A.		393
	445,043		IRB Infrastructure Developers Ltd		843
	132,610		IS Dongseo Co Ltd		4,607
	10,900	e	Iseki & Co Ltd		201
	4,081		ISGEC Heavy Engineering Ltd		308
	2,217,711		Ishikawajima-Harima Heavy Industries Co Ltd		84,021
	1,113,750		Italian-Thai Development PCL		105
	12,884		Italmobiliare S.p.A		310
	1,995,811		Itochu Corp		36,530
	559,073		ITT, Inc		34,249
	198,000	e	Iwatani International Corp		7,043
	232,881		Jacobs Engineering Group, Inc		17,815
	870,889		Jain Irrigation Systems Ltd		734
	659,113	*	Jaiprakash Associates Ltd		60
	5,800	e	Jamco Corp		164
	28,160	e	Japan Pulp & Paper Co Ltd		1,181
	42,600		Japan Steel Works Ltd		1,037
	219,905		Jardine Matheson Holdings Ltd		13,796
	251,888		Jardine Strategic Holdings Ltd		9,142
	92,708	*	JELD-WEN Holding, Inc		2,286
	2,955,087		JG Summit Holdings (Series B)		2,948
	46,653		JGC Corp		1,070
	42,275		John Bean Technologies Corp		5,043
	4,938,400		John Keells Holdings plc		3,835
	373,683	g	John Laing Group plc		1,520
	345,107	e	Johnson Controls International plc		12,079
	267,375		Johnson Electric Holdings Ltd		755
	19,356	g	JOST Werke AG.		727
	1,060,776		JTEKT Corp		15,529
	30,458		Jungheinrich AG.		1,159
	1,529		JVM Co Ltd		55
	92,660		Kadant, Inc		9,993
	70,730		Kajaria Ceramics Ltd		359
	385,211		Kajima Corp		5,601
	22,487		Kalpataru Power Transmission Ltd		104
	150,300	*	Kama Co Ltd		89
	36,986		Kaman Corp		2,470
	24,900		Kamei Corp		351
	77,700		Kanamoto Co Ltd		2,755
	446,100		Kandenko Co Ltd		4,608
	435,400		Kanematsu Corp		6,552
	1,188,248		KAP Industrial Holdings Ltd		649
	3,903		Kardex AG.		663
	14,900	e	Katakura Industries Co Ltd		184
	21,644		Kawasaki Heavy Industries Ltd		610
	344,945		KBR, Inc		7,289
	4,535		KC Co Ltd		85
	6,352		KCC Corp		1,942
	146,212		KEC International Ltd		598
	21,259		KEI Industries Ltd		105

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	73,979		Keihan Electric Railway Co Ltd	$	2,825
	186,820		Keller Group plc		2,474
	8,008		Kendrion NV		279
	248,895		Kennametal, Inc		10,842
	7,546		KEPCO Engineering & Construction Co, Inc		143
	937,770		Keppel Corp Ltd		4,774
	253,800		Kerjaya Prospek Group BHD		86
	67,638	*,e	KEYW Holding Corp, The		586
	63,373	e	Kier Group plc		748
	220,200		Kinden Corp		3,526
	40,000		King Slide Works Co Ltd		525
	110,348		Kingspan Group plc		5,145
	55,000		Kinik Co		119
	60,713		KION Group AG.		3,728
	256,700		Kitz Corp		2,219
	532,523		Kloeckner & Co AG.		6,149
	102,981	*	KLX, Inc		6,465
	19,601		KNR Constructions Ltd		48
	648,630		KOC Holding AS		1,832
	25,185		Koenig & Bauer AG.		1,520
	3,468		Kolon Corp		124
	384,488		Komatsu Ltd		11,700
	2,306		Komax Holding AG.		744
	30,390		Komori Corp		379
	64,555		Kone Oyj (Class B)		3,446
	43,685	e	Konecranes Oyj		1,670
	149,555	e	Koninklijke BAM Groep NV		574
	118,234		Koninklijke Volkerwessels NV		2,485
	78,434	*	Korea Aerospace Industries Ltd		2,485
	2,851		Korea Electric Terminal Co Ltd		110
	21,396	*,e	Kornit Digital Ltd		469
	118,922	*,e	Kratos Defense & Security Solutions, Inc		1,758
	11,722		Krones AG.		1,229
	59,000		KS Terminals, Inc		91
	319,467		Kubota Corp		5,427
	63,000		Kumagai Gumi Co Ltd		1,744
	239,323		Kumho Industrial Co Ltd		2,567
	188,000		Kung Long Batteries Industrial Co Ltd		884
	14,588		Kurita Water Industries Ltd		425
	56,600		Kyokuto Kaihatsu Kogyo Co Ltd		897
	109,700		Kyowa Exeo Corp		3,211
	33,600		Kyudenko Corp		1,333
	3,151		Kyung Dong Navien Co Ltd		154
	344,606		L3 Technologies, Inc		73,270
	1,442		Lakshmi Machine Works Ltd		124
	759,855		Larsen & Toubro Ltd		13,343
	8,891	*	Lawson Products, Inc		301
	13,140	*	LB Foster Co (Class A)		270
	98,439		Legrand S.A.		7,178
	29,573	e	Lehto Group Oyj		275
	64,355		Lennox International, Inc		14,055
	374,164		LG Corp		24,491
	3,547		LG Hausys Ltd		225

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,451		LG International Corp	$	388
	6,195		LIG Nex1 Co Ltd		194
	12,014		Lincoln Electric Holdings, Inc		1,123
	53,729		Lindab International AB		402
	14,430		Lindsay Corp		1,446
	12,729		LISI		459
	86,536		LIXIL Group Corp		1,666
	501,373		Lockheed Martin Corp		173,455
	6,385,000		Lonking Holdings Ltd		2,056
	29,569	*	Lotte Corp		1,522
	111,543		LS Cable Ltd		6,886
	22,110		LS Industrial Systems Co Ltd		1,486
	152,000	*,e	Luoyang Glass Co Ltd		49
	93,650		Luxshare Precision Industry Co Ltd		210
	97,759	*	Lydall, Inc		4,213
	7,048		Mabuchi Motor Co Ltd		284
	2,212,923		Maeda Corp		29,223
	12,200		Maeda Kosen Co Ltd		260
	38,800		Maeda Road Construction Co Ltd		790
	28,674		Magellan Aerospace Corp		403
	1,185,786	e	Maire Tecnimont S.p.A		5,320
	329,350		Makino Milling Machine Co Ltd		14,061
	33,461		Makita Corp		1,676
	1,189,300		Malaysian Resources Corp BHD		207
	25,134		MAN AG.		2,732
	20,862	*	Manitex International, Inc		220
	24,257		Manitou BF S.A.		897
	612,740	*	Manitowoc Co, Inc		14,700
	296,000		Marcopolo S.A.		251
	2,566,374		Marubeni Corp		23,471
	806,946		Masco Corp		29,534
	122,139	*	Masonite International Corp		7,829
	87,635	*	Mastec, Inc		3,913
	16,800		Max Co Ltd		251
	76,515	e	Maxar Technologies Ltd		2,530
	36,724	e	Maxar Technologies Ltd (Toronto)		1,209
	1,326		MBB SE		133
	443,700		Megawide Construction Corp		127
	1,050,673		Meggitt plc		7,757
	94,600		Meidensha Corp		1,548
	4,223,669		Melrose Industries plc		10,994
	62,319	*	Mercury Systems, Inc		3,447
	460,856	*	Meritor, Inc		8,922
	56,300		Metallurgical Corp of China Ltd		29
	3,323,000		Metallurgical Corp of China Ltd (Hong Kong)		934
	8,900		METAWATER Co Ltd		256
	157,304		Metso Oyj		5,567
	213,009		Micron Machinery Co Ltd		2,553
	106,281	*,e	Middleby Corp		13,747
	650,493	*	Milacron Holdings Corp		13,172
	36,680		Millat Tractors Ltd		300
	13,662		Miller Industries, Inc		368
	435,600		Minebea Co Ltd		7,896
	1,426,900	e	Miraito Holdings Corp		24,607

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	208,164		MISUMI Group, Inc	$	5,386
	1,710,867		Mitsubishi Corp		52,699
	661,157		Mitsubishi Electric Corp		9,057
	132,052		Mitsubishi Heavy Industries Ltd		5,100
	17,000		Mitsubishi Nichiyu Forklift Co Ltd		222
	13,850		Mitsuboshi Belting Co Ltd		366
	2,662,395		Mitsui & Co Ltd		47,313
	47,300		Mitsui Engineering & Shipbuilding Co Ltd		849
	60,100		Miura Co Ltd		1,862
	3,138,230		MMC Corp BHD		1,037
	68,292	e	Monadelphous Group Ltd		793
	81,600	e	MonotaRO Co Ltd		2,302
	163,988		Moog, Inc (Class A)		14,098
	722,985		Morgan Crucible Co plc		3,130
	88,606		Morgan Sindall plc		1,520
	125,700	e	Mori Seiki Co Ltd		2,100
	17,600		Morita Holdings Corp		398
	672,663		Mota Engil SGPS S.A.		1,643
	376,966	*	MRC Global, Inc		7,076
	96,836		MSC Industrial Direct Co (Class A)		8,532
	86,034		MTU Aero Engines Holding AG.		19,382
	75,125		Mueller Industries, Inc		2,177
	638,332		Mueller Water Products, Inc (Class A)		7,347
	204,500		Muhibbah Engineering M BHD		149
	39,709	e,g	Munters Group AB		173
	262,880		Murray & Roberts Holdings Ltd		308
	97,016	*	MYR Group, Inc		3,167
	129,123		Nabtesco Corp		3,433
	10,033		Nachi-Fujikoshi Corp		494
	250,663		Nagarjuna Construction Co		253
	302,600		Nagase & Co Ltd		5,315
	31,500	e	Namura Shipbuilding Co Ltd		165
	10,627	*	Nanomedics Co Ltd		113
	111,100		NARI Technology Co Ltd		285
	147,512		National Central Cooling Co PJSC		63
	6,951	e	National Presto Industries, Inc		901
	66,737	*	Navistar International Corp		2,569
	251,501		NBCC India Ltd		203
	57,240	e	NCC AB (B Shares)		1,013
	234,222	*	NCI Building Systems, Inc		3,548
	14,960,000	*,e	New Provenance Everlasting Holdings Ltd		97
	17,034	e	Nexans S.A.		536
	132,115	*,e	Nexeo Solutions, Inc		1,618
	70,137	e	NFI Group, Inc		2,730
	35,951		NGK Insulators Ltd		593
	202,805		Nibe Industrier AB		2,428
	163,212		Nichias Corp		4,246
	21,200		Nichiden Corp		373
	19,900		Nichiha Corp		527
	41,925		Nidec Corp		6,029
	3,200	e	Nihon Trim Co Ltd		165
	17,415	*	Nilfisk Holding A.S.		888
	115,300		Nippo Corp		2,117

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,100	*,e	Nippon Carbon Co Ltd	$	5,543
	87,700		Nippon Densetsu Kogyo Co Ltd		1,832
	52,000		Nippon Koei Co Ltd		1,393
	4,100		Nippon Road Co Ltd		237
	27,073	*,e	Nippon Sharyo Ltd		746
	57,200	*,e	Nippon Sheet Glass Co Ltd		623
	89,517	e	Nippon Steel Trading Co Ltd		4,491
	32,900	e	Nippon Thompson Co Ltd		219
	60,500		Nishimatsu Construction Co Ltd		1,532
	26,800		Nishio Rent All Co Ltd		895
	4,600	e	Nissei ASB Machine Co Ltd		193
	135,652		Nisshinbo Industries, Inc		1,615
	62,200	e	Nissin Electric Co Ltd		566
	12,000	e	Nitta Corp		457
	17,200	e	Nitto Boseki Co Ltd		402
	15,200	e	Nitto Kogyo Corp		281
	6,373		Nitto Kohki Co Ltd		148
	8,200	e	Nittoku Engineering Co Ltd		245
	19,514	*,e	NKT Holding AS		506
	37,814		NN, Inc		590
	4,800	*,e	Noble Group Ltd		0^
	100,420		Nolato AB (B Shares)		6,189
	43,174	*	Nordex AG.		464
	103,698		Nordson Corp		14,404
	71,791		Noritake Co Ltd		4,530
	21,200		Noritz Corp		336
	93,473		NORMA Group		5,971
	890,885		Northrop Grumman Corp		282,740
	13,323	*	Northwest Pipe Co		263
	144,798	*	NOW, Inc		2,396
	292,117		NSK Ltd		3,348
	2,634,800	e	NTN Corp		10,787
	12,612	*	NV5 Holdings, Inc		1,093
	47,146		nVent Electric plc		1,280
	2,757,905		NWS Holdings Ltd		5,451
	8,900		Obara Corp		429
	531,392		Obayashi Corp		5,033
	120,326	e	Obrascon Huarte Lain S.A.		239
	210,108		OC Oerlikon Corp AG.		2,887
	4,110		OHB AG.		159
	122,200		Oiles Corp		2,632
	24,700		Okabe Co Ltd		243
	45,628	e	Okuma Holdings, Inc		2,534
	18,800		Okumura Corp		590
	4,139		Omega Flex, Inc		295
	617,733	*,e	Opus Global Rt		1,202
	253		Orascom Construction Ltd		2
	4,200		Organo Corp		117
	283,902	*	Orion Marine Group, Inc		2,143
	54,800		OSG Corp		1,248
	157,464		Oshkosh Truck Corp		11,218
	78,500		OSJB Holdings Corp		213
	63,874		Osram Licht AG.		2,536
	5,555		Otokar Otobus Karoseri Sanayi AS		76

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	95,477	*	Outotec Oyj	$	624
	1,965,423		Owens Corning, Inc		106,664
	95,533		PACCAR, Inc		6,514
	300,000		Pantaloon Retail India Ltd		144
	632,732		Parker-Hannifin Corp		116,378
	31,328	*	Patrick Industries, Inc		1,855
	688,652		Peab AB (Series B)		6,296
	57,283		Pentair plc		2,483
	1,000,300		Penta-Ocean Construction Co Ltd		6,664
	54,232		PER Aarsleff A.S.		2,052
	2,600		PESTECH International BHD		1
	10,472		Pfeiffer Vacuum Technology AG.		1,553
	462,223	*	PGT, Inc		9,984
	92,766	g	Philips Lighting NV		2,401
	8,293		Pinguely-Haulotte		113
	304,586	*,e	Plug Power, Inc		585
	38,019		PNC Infratech Ltd		72
	130,041		Polypipe Group plc		603
	1,895,600		Polyplex PCL (Foreign)		979
	22,336		Ponsse Oyj		774
	21,453	e	Porr AG.		635
	11,228		Powell Industries, Inc		407
	262,800		Power Construction Corp of China Ltd		204
	4,352		Preformed Line Products Co		306
	3,646		Prima Industrie S.p.A		124
	144,617		Primoris Services Corp		3,589
	36,339	*,e	Proto Labs, Inc		5,878
	44,215		Prysmian S.p.A.		1,027
	1,064,732		PT Adhi Karya Persero Tbk		99
	1,543,300		PT AKR Corporindo Tbk		380
	5,000,000		PT Arwana Citramulia Tbk		121
	1,217,100		PT Asahimas Flat Glass Tbk		374
	2,803,600	*,†,m	PT Inovisi Infracom Tbk		0^
	10,420,688		PT Pembangunan Perumahan Tbk		1,066
	2,721,300	*	PT Sitara Propertindo Tbk		163
	5,479,300		PT Waskita Karya Persero Tbk		625
	1,876,023		PT Wijaya Karya		172
	37,161		Qatar Industrial Manufacturing Co		433
	1,653,544		QinetiQ plc		6,166
	32,000		QST International Corp		91
	67,831		Quanex Building Products Corp		1,235
	373,271	*	Quanta Services, Inc		12,460
	134,000	e	Raito Kogyo Co Ltd		1,916
	382,321		Ramirent Oyj		3,086
	101,113		Randon Participacoes S.A.		157
	2,219		Rational AG.		1,606
	386,165		Raubex Group Ltd		605
	47,133		Raven Industries, Inc		2,156
	826,124		Raytheon Co		170,727
	44,954	*	RBC Bearings, Inc		6,759
	402,617		RCR Tomlinson Ltd		313
	169,797		Rechi Precision Co Ltd		146
	102,465		Regal-Beloit Corp		8,448

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	622,688		Reliance Worldwide Corp Ltd	$	2,326
	643,365		Reunert Ltd		3,458
	39,193	e	REV Group, Inc		615
	70,782		Rexel S.A.		1,063
	138,686	*	Rexnord Corp		4,272
	107,551		Rheinmetall AG.		11,242
	12,200	*	Rheon Automatic Machinery Co Ltd		218
	2,114	e	Rieter Holding AG.		325
	408,842		Rockwell Automation, Inc		76,666
	67,080		Rockwell Collins, Inc		9,423
	25,084		Rockwool International AS (B Shares)		10,733
	1,708,587		Rolls-Royce Group plc		21,982
	532,310		Roper Industries, Inc		157,676
	668,666		Rotork plc		2,878
	85,000		Run Long Construction Co Ltd		168
	11,512		Rush Enterprises, Inc		459
	323,390		Rush Enterprises, Inc (Class A)		12,712
	279,461		Russel Metals, Inc		5,798
	124,200		Ryobi Ltd		4,894
	41,850		Saab AB (Class B)		2,105
	349,643	e	Sacyr Vallehermoso S.A.		1,021
	95,596		Sadbhav Engineering Ltd		286
	426,910		Safran S.A.		59,778
	205,354		Salfacorp S.A.		353
	145,035	*	Samsung Engineering Co Ltd		2,523
	405,101	*	Samsung Heavy Industries Co Ltd		2,950
	22,498	*	Samsung Techwin Co Ltd		515
	54,623		San Shing Fastech Corp		96
	2,291,934		Sandvik AB		40,577
	27,900		Sanki Engineering Co Ltd		300
	15,400	*	Sankyo Tateyama, Inc		195
	253,600		Sanwa Shutter Corp		3,020
	513,000		Sany Heavy Equipment International		178
	184,100		Sany Heavy Industry Co Ltd		238
	6,800		Sanyo Denki Co Ltd		325
	19,062		Savaria Corp		295
	27,804		Schindler Holding AG.		6,939
	7,038		Schindler Holding AG. (Registered)		1,698
	33,577	*	Schneider Electric Infrastructure Ltd		51
	1,947,368		Schneider Electric S.A.		156,368
	754		Schweiter Technologies AG.		913
	181,529		Seibu Holdings, Inc		3,264
	117,000		Sekisui Jushi Corp		2,219
	833,183	e	SembCorp Industries Ltd		1,882
	548,700	e	SembCorp Marine Ltd		819
	6,788	e	Semperit AG. Holding		120
	307,467		Senior plc		1,250
	402,422	*	Sensata Technologies Holding plc		19,940
	15,622	*,e	Senvion S.A.		110
	101,028	e	Seven Network Ltd		1,650
	28,521		SFS Group AG.		3,307
	110,989	*	SGL Carbon AG.		1,214
	150,108	*	SGSB Group Co Ltd		103
	217,280		Shanghai Diesel Engine Co Ltd		134

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	245,700		Shanghai Electric Group Co Ltd	$	188
	3,105,025	e	Shanghai Electric Group Co Ltd (Hong Kong)		1,108
	1,178,180		Shanghai Highly Group Co Ltd		1,171
	2,702,508		Shanghai Industrial Holdings Ltd		5,979
	97,800		Shanghai Tunnel Engineering Co Ltd		87
	89,940		Shapir Engineering and Industry Ltd		316
	8,600		Shibuya Kogyo Co Ltd		320
	178,597		Shikun & Binui Ltd		369
	16,500	e	Shima Seiki Manufacturing Ltd		729
	303,718		Shimizu Corp		2,773
	85,000		Shin Zu Shing Co Ltd		235
	16,200		Shinko Electric Co Ltd		241
	63,200		Shinmaywa Industries Ltd		857
	181,300	e	Shinnihon Corp		1,975
	12,000		SHO-BOND Holdings Co Ltd		969
	4,884,000	*	Shougang Concord International Enterprises Co Ltd		120
	1,288,353		Siemens AG.		164,733
	5,590,519	*,e	Siemens Gamesa Renewable Energy		70,542
	133,080		Siemens India Ltd		1,736
	6,968		SIF Holding NV		130
	354,501		SIG plc		586
	2,777,460		Sime Darby BHD		1,751
	76,377		Simpson Manufacturing Co, Inc		5,534
	4,202,000		Singamas Container Holdings Ltd		632
	1,904,556		Singapore Technologies Engineering Ltd		4,957
	17,100		Sinko Industries Ltd		284
	430,957		Sino Thai Engineering & Construction PCL		332
	1,359,500		Sinopec Engineering Group Co Ltd		1,553
	916,000	e	Sinotruk Hong Kong Ltd		1,999
	380,896	*	Sintex Plastics Technology Ltd		153
	26,000	e	Sintokogio Ltd		263
	53,990	*	SiteOne Landscape Supply, Inc		4,068
	33,877		SK C&C Co Ltd		8,766
	99,080		SK Networks Co Ltd		491
	72,803		Skanska AB (B Shares)		1,427
	496,676		SKF AB (B Shares)		9,773
	527,600		SKP Resources BHD		177
	7,578	*,e	SLM Solutions Group AG.		184
	222,110		SM Investments Corp		3,715
	32,017		SMC Corp		10,248
	92,258		Smiths Group plc		1,796
	144,694		Snap-On, Inc		26,566
	103,748		SNC-Lavalin Group, Inc		4,231
	84,200		Sodick Co Ltd		764
	6,828,300		Sojitz Holdings Corp		24,640
	5,330		Solar Holdings AS (B Shares)		334
	9,133		Somany Ceramics Ltd		47
	80,621	*	Sparton Corp		1,163
	98,694		Spirax-Sarco Engineering plc		9,376
	31,828		Spirit Aerosystems Holdings, Inc (Class A)		2,918
	261,488	*	SPX Corp		8,710
	369,488	*	SPX FLOW, Inc		19,213
	17,982		Stabilus S.A.		1,484

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,134		Standex International Corp	$	1,786
	577,460		Stanley Works		84,563
	35,300	e	Star Micronics Co Ltd		628
	39,738	*	Ste Industrielle d’Aviation Latecoere S.A.		185
	249,401	*	Sterling Construction Co, Inc		3,571
	8,826		Sulzer AG.		1,058
	1,359,447		Sumitomo Corp		22,656
	13,600		Sumitomo Densetsu Co Ltd		224
	980,497		Sumitomo Heavy Industries Ltd		34,995
	409,840		Sumitomo Mitsui Construction C		2,757
	38,654		Sun Hydraulics Corp		2,117
	112,000		Sunonwealth Electric Machine Industry Co Ltd		160
	128,478	*,e	Sunrun, Inc		1,598
	1,681,822		Sunway Construction Group BHD		740
	2,444,500	*,†,e,m	Superb Summit International Group Ltd		31
	56,000		Suzhou Gold Mantis Construction Decoration Co Ltd		73
	1,629,151	*	Suzlon Energy Ltd		123
	61,419		Sweco AB (B Shares)		1,618
	377,000		Syncmold Enterprise Corp		707
	63,300		Tadano Ltd		736
	4,473	*	Taewoong Co Ltd		56
	486,171		Taeyoung Engineering & Construction		5,561
	9,100		Taihei Dengyo Kaisha Ltd		241
	14,800		Taikisha Ltd		483
	290,179		Taisei Corp		13,227
	639,670		Taiwan Glass Industrial Corp		340
	192,093		Takamatsu Corp		5,360
	21,964	e	Takara Standard Co Ltd		385
	135,600	e	Takasago Thermal Engineering Co Ltd		2,454
	25,500		Takeuchi Manufacturing Co Ltd		688
	43,100		Takuma Co Ltd		572
	53,834	g	Talgo S.A.		284
	20,957	e	Tarkett S.A.		536
	35,000		Tatsuta Electric Wire and Cable Co Ltd		195
	87,200		TBEA Co Ltd		91
	14,704	*,†,m	Techno Electric & Engineering Co Ltd		53
	2,194,679		Teco Electric and Machinery Co Ltd		1,592
	10,500		Teikoku Sen-I Co Ltd		278
	337,103		Tekfen Holding AS		1,205
	68,800		Tekken Corp		1,791
	64,853	*	Teledyne Technologies, Inc		15,998
	24,015		Tennant Co		1,824
	5,525,747	a	Terex Corp		220,533
	36,184	*	Textainer Group Holdings Ltd		463
	2,806,423		Textron, Inc		200,575
	106,437		Thales S.A.		15,123
	36,180		Thermax Ltd		473
	232,160	*	Thermon Group Holdings		5,985
	114,592		THK Co Ltd		2,916
	611,335		Thoresen Thai Agencies PCL		143
	22,769		Timken Co		1,135
	9,862		Timken India Ltd		82
	309,572		Titan International, Inc		2,297

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	132,835	*	Titan Machinery, Inc	$	2,057
	974,000		TK Group Holdings Ltd		613
	32,951		TKH Group NV		1,856
	8,400		Toa Corp/Tokyo		185
	42,000		Tocalo Co Ltd		432
	165,900		Toda Corp		1,198
	14,700		Toenec Corp		418
	169,900		Tokai Corp		1,703
	705,660		Tokyu Construction Co Ltd		6,815
	79,914		Toro Co		4,792
	101,187		Toromont Industries Ltd		5,231
	248,144	*	Toshiba Corp		7,171
	13,393	e	Toshiba Machine Co Ltd		299
	31,600		Toshiba Plant Systems & Services Corp		675
	15,500		Totetsu Kogyo Co Ltd		399
	22,296	e	Toto Ltd		925
	983,200		Toyo Construction Co Ltd		4,008
	21,799	e	Toyo Engineering Corp		174
	76,100		Toyo Tanso Co Ltd		2,255
	301,236		Toyota Tsusho Corp		11,374
	18,256	*	TPI Composites, Inc		521
	3,715,064		Trakya Cam Sanayi AS		2,641
	128,309	*	TransDigm Group, Inc		47,769
	1,948,502		Travis Perkins plc		27,039
	192,712		Trelleborg AB (B Shares)		3,921
	110,805		Trencor Ltd		223
	100,455	*	Trex Co, Inc		7,733
	81,872	*	Trimas Corp		2,489
	56,329		Trinity Industries, Inc		2,064
	186,421		Triton International Ltd		6,202
	698,848		Triumph Group, Inc		16,283
	8,456		Troax Group AB		274
	25,800		Trusco Nakayama Corp		714
	25,600		Tsubaki Nakashima Co Ltd		527
	79,800		Tsubakimoto Chain Co		3,694
	30,000		Tsugami Corp		297
	14,700		Tsukishima Kikai Co Ltd		203
	10,000		Tsurumi Manufacturing Co Ltd		165
	6,441,299		Turk Sise ve Cam Fabrikalari AS		6,221
	9,945		Turk Traktor ve Ziraat Makineleri AS		79
	52,950	*	Tutor Perini Corp		995
	25,354	*	Twin Disc, Inc		584
	427,500		UEM Edgenta BHD		262
	48,495	e	Ultra Electronics Holdings		1,004
	5,000		Union Tool Co		187
	206,300		Unique Engineering & Construction PCL		93
	188,400	e	United Engineers Ltd		365
	919,000		United Integrated Services Co Ltd		1,772
	269,491	*	United Rentals, Inc		44,089
	333,867		United Technologies Corp		46,678
	357,157	*	Univar, Inc		10,950
	361,406		Universal Forest Products, Inc		12,768
	35,182		Uponor Oyj		460

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,357	*	USG Corp	$	1,748
	407,300		Ushio, Inc		5,586
	296,672		Valmet Corp		6,608
	43,910		Valmont Industries, Inc		6,082
	315,500		Vanachai Group PCL		74
	9,009	*	Varta AG.		296
	17,571	g	VAT Group AG.		1,971
	142,526	*	Vectrus, Inc		4,445
	15,637	*	Veritiv Corp		569
	51,131		Vestas Wind Systems AS		3,454
	141,022		Vesuvius plc		1,184
	57,042		V-Guard Industries Ltd		139
	23,286	*	Vicor Corp		1,071
	1,185,170		Vinci S.A.		112,757
	59,977	*,e	Vivint Solar, Inc		312
	58,470		Voltas Ltd		429
	36,995		Voltronic Power Technology Corp		649
	1,484,943		Volvo AB (B Shares)		26,190
	5,236		Vossloh AG.		273
	543,716		W.W. Grainger, Inc		194,330
	77,264		Wabash National Corp		1,409
	150,021	*	WABCO Holdings, Inc		17,693
	54,987		Wabtec Corp		5,767
	41,015		Wacker Construction Equipment AG.		1,051
	44,004		Wajax Income Fund		890
	22,100		Wakita & Co Ltd		274
	16,890,000		Walsin Lihwa Corp		11,364
	223,749	e	Wartsila Oyj (B Shares)		4,354
	7,238		Washtec AG.		635
	58,476		Watsco, Inc		10,415
	124,280		Watts Water Technologies, Inc (Class A)		10,315
	654,761		WCT Berhad		141
	846,533		Weg S.A.		4,140
	1,993,284		Weichai Power Co Ltd		2,468
	170,300		Weichai Power Co Ltd (Class A)		212
	609,393		Weir Group plc		13,981
	1,394,019	*	Welbilt, Inc		29,107
	72,623	*	Wesco Aircraft Holdings, Inc		817
	660,774	*	WESCO International, Inc		40,605
	4,393	*	Willis Lease Finance Corp		152
	44,204	*,e	Willscot Corp		758
	125,208		Wilson Bayly Holmes-Ovcon Ltd		1,360
	71,197		Woodward Governor Co		5,757
	77,734	e	WSP Global, Inc		4,254
	279,300		XCMG Construction Machinery Co Ltd		160
	64,100	*	Xiamen C & D, Inc		76
	58,100		Xinjiang Goldwind Science & Technology Co Ltd		101
	813,400		Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		871
	76,112		Xxentria Technology Materials Corp		177
	53,265		Xylem, Inc		4,254
	10,071		Y G-1 Co Ltd		105
	77,700	e	Yahagi Construction Co Ltd		594
	158,500		YAMABIKO Corp		1,964

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,800	*,e	Yamashin-Filter Corp	$	196
	42,600		Yamazen Corp		508
	9,016,318		Yangzijiang Shipbuilding		8,174
	73,015		Yazicilar Holding AS		208
	102,486	e	YIT Oyj		717
	23,000		Yokogawa Bridge Holdings Corp		482
	61,300		Yuasa Trading Co Ltd		2,201
	198,000		Yungtay Engineering Co Ltd		310
	150,300		Yurtec Corp		1,260
	12,100	e	Yushin Precision Equipment Co Ltd		132
	27,047	*	Yuyang DNU Co Ltd		226
	141,601		Zardoya Otis S.A.		1,319
	6,926		Zehnder Group AG.		302
	69,000		Zhejiang Chint Electrics Co Ltd		231
	145,400		Zhengzhou Coal Mining Machinery Group Co Ltd		78
	76,100		Zhengzhou Yutong Bus Co Ltd		162
	528,741		Zhuzhou CSR Times Electric Co Ltd		3,020
	273,600		Zoomlion Heavy Industry Science and Technology Co Ltd		149
	17,794	e	Zumtobel AG.		169
			TOTAL CAPITAL GOODS		9,605,632
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	53,000	*	51job, Inc (ADR)		4,080
	126,950		ABM Industries, Inc		4,094
	208,313	*	Acacia Research (Acacia Technologies)		667
	267,744		ACCO Brands Corp		3,025
	176,170		Adecco S.A.		9,261
	182,997	e	ADT, Inc		1,718
	577,444	*	Advanced Disposal Services, Inc		15,637
	13,900		Aeon Delight Co Ltd		507
	107,988		AF AB		2,494
	168,232	e	Aggreko plc		1,913
	7,073		Akka Technologies S.A.		512
	609,406		ALS Ltd		3,932
	10,100	*	Altech Corp		227
	9,041		Amadeus Fire AG		1,024
	48,427		American Banknote S.A.		151
	83,888		Applus Services S.A.		1,191
	5,557		Assystem		187
	470,028	e	Babcock International Group		4,427
	9,062		Barrett Business Services, Inc		605
	7,900	*,e	BayCurrent Consulting, Inc		220
	19,800		Bell System24 Holdings, Inc		312
	18,500		Benefit One, Inc		604
	3,790		Bertrandt AG.		350
	9,826		BG Staffing, Inc		267
	149,105	g	Biffa plc		490
	19,579		Bilfinger Berger AG.		988
	258,189		Bingo Industries Ltd		586
	224,645		Blue Label Telecoms Ltd		83
	193,820		Brady Corp (Class A)		8,480
	1,157,653		Brambles Ltd		9,117

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	413,055	g	Bravida Holding AB	$	3,384
	33,527	*	BrightView Holdings, Inc		538
	90,537		Brink’s Co		6,315
	12,050		Brunel International NV		174
	240,781		Bureau Veritas S.A.		6,217
	1,095,642		Capita Group plc		2,039
	3,782,000	*	Capital Environment Holdings Ltd		96
	148,074	*	Casella Waste Systems, Inc (Class A)		4,599
	59,153	*,e	Caverion Corp		472
	314,256	*	CBIZ, Inc		7,448
	72,418		Ceco Environmental Corp		571
	5,200	*,e	Central Security Patrols Co Ltd		231
	3,955		Cewe Color Holding AG.		329
	9,724	*	Charah Solutions, Inc		77
	4,085,451		China Everbright International Ltd		3,527
	1,084,000	e	China Greenland Broad Greenstate Group Co Ltd		104
	171,600	*,e,g	China Literature Ltd		1,079
	240,521	*	Cimpress NV		32,858
	158,922		Cintas Corp		31,436
	96,489	*	Clean Harbors, Inc		6,907
	226,635	*,e	Clean TeQ Holdings Ltd		89
	71,000		Cleanaway Co Ltd		406
	5,316,754		Cleanaway Waste Management Ltd		7,211
	153		Compx International, Inc		2
	411,331	*	Copart, Inc		21,196
	86,408	*	CoStar Group, Inc		36,364
	1,157,000	*	Country Garden Services Holdings Co Ltd		1,953
	155,203		Covanta Holding Corp		2,522
	40,618		CRA International, Inc		2,040
	65,105		Dai Nippon Printing Co Ltd		1,515
	23,900		Daiseki Co Ltd		660
	200,458		De La Rue plc		1,255
	113,334		Deluxe Corp		6,453
	285,329		Derichebourg		1,523
	820,773		Downer EDI Ltd		4,680
	83,913		Dun & Bradstreet Corp		11,958
	26,898		Duskin Co Ltd		656
	272,000	e	Dynagreen Environmental Protection Group Co Ltd		107
	1,164,956		Edenred		44,394
	10,013	e	Elanders AB		103
	135,538		Elis S.A.		3,191
	20,500		en-japan, Inc		1,029
	37,649		Ennis, Inc		770
	50,133		Essendant, Inc		643
	2,486,558		Experian Group Ltd		63,805
	69,567		Exponent, Inc		3,729
	10,103	e	Fila S.p.A		205
	13,178		Forrester Research, Inc		605
	12,785	*	Franklin Covey Co		302
	50,634	*	FTI Consulting, Inc		3,706
	55,400		Fullcast Co Ltd		1,281
	23,550		Funai Soken Holdings, Inc		534
	4,642	e	GL Events		105
	42,795	*	GP Strategies Corp		721

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,550,000	e	Greentown Service Group Co Ltd	$	1,240
	1,458,680		Group 4 Securicor plc		4,601
	7,386		Groupe CRIT		608
	3,881,657		Hays plc		10,304
	98,265	e	Healthcare Services Group		3,992
	185,521		Heidrick & Struggles International, Inc		6,280
	50,909	*	Heritage-Crystal Clean, Inc		1,087
	135,520		Herman Miller, Inc		5,204
	58,398		HNI Corp		2,584
	550,246		HomeServe plc		7,340
	30,314	*	Huron Consulting Group, Inc		1,497
	32,778		ICF International, Inc		2,473
	848,372	*	IHS Markit Ltd		45,778
	4,477		Indiabulls Wholesale Service		31
	59,376	*	Innerworkings, Inc		470
	206,633		Insperity, Inc		24,372
	301,163		Interface, Inc		7,032
	215,611		Intertek Group plc		14,026
	78,106	g	Intertrust NV		1,445
	53,421	e	Intrum Justitia AB		1,386
	104,253		IPH Ltd		454
	63,000	*	IR Japan Holdings Ltd		1,007
	149,948		ISS A.S.		5,268
	18,917	e	ITAB Shop Concept AB		52
	23,700		Itoki Corp		138
	444,690		IWG plc		1,405
	10,000	e	JAC Recruitment Co Ltd		229
	52,900		Jihua Group Corp Ltd		29
	2,052	e	Kaba Holding AG.		1,548
	255,399		KAR Auction Services, Inc		15,245
	20,000		KD Holding Corp		115
	86,094		Kelly Services, Inc (Class A)		2,069
	28,281		KEPCO Plant Service & Engineering Co Ltd		867
	169,909		Kforce, Inc		6,389
	214,146		Kimball International, Inc (Class B)		3,587
	162,541		Knoll, Inc		3,812
	210,000		Kokuyo Co Ltd		3,782
	233,433		Korn/Ferry International		11,494
	19,900	e	Link And Motivation, Inc		248
	199,634		Loomis AB		6,424
	44,898		LSC Communications, Inc		497
	190,057		Manpower, Inc		16,337
	31,862		Matsuda Sangyo Co Ltd		446
	58,535		Matthews International Corp (Class A)		2,936
	77,038		McGrath RentCorp		4,196
	46,022		McMillan Shakespeare Ltd		568
	16,300		Meitec Corp		784
	1,541,171		Michael Page International plc		11,484
	150,995	*	Mistras Group, Inc		3,272
	1,388,478		Mitie Group		2,655
	23,144		Mitsubishi Pencil Co Ltd		426
	104,933		Mobile Mini, Inc		4,601

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	60,297		Morneau Sobeco Income Fund	$	1,264
	25,700		Moshi Moshi Hotline, Inc		317
	45,317		MSA Safety, Inc		4,824
	19,031		Multi-Color Corp		1,185
	58,436		Navigant Consulting, Inc		1,348
	20,934		NICE Information Service Co Ltd		194
	6,800	*	Nichiban Co Ltd		164
	330,622		Nielsen NV		9,145
	90,600		Nihon M&A Center, Inc		2,719
	11,400		Nippon Kanzai Co Ltd		216
	156,100		Nippon Parking Development Co Ltd		243
	10,872	*	NL Industries, Inc		65
	25,000		Nomura Co Ltd		516
	129,000		Okamura Corp		1,725
	101,041	*	On Assignment, Inc		7,975
	48,800	e	Outsourcing, Inc		716
	14,668		Oyo Corp		197
	87,300		Park24 Co Ltd		2,639
	10,500		Pasona Group, Inc		156
	38,900		Pilot Corp		2,338
	254,621		Pitney Bowes, Inc		1,803
	31,200	e	Prestige International, Inc		373
	176,556		Prosegur Cia de Seguridad S.A.		1,096
	168,362		Quad Graphics, Inc		3,509
	45,643	*,g	Quess Corp Ltd		559
	89,900	*	Raksul, Inc		2,860
	134,339		Randstad Holdings NV		7,170
	286,000	*,e	Realord Group Holdings Ltd		159
	2,003,478		Recruit Holdings Co Ltd		66,919
	2,563,173		Rentokil Initial plc		10,619
	469,363		Republic Services, Inc		34,104
	38,467		Resources Connection, Inc		639
	70,316	e	Restore plc		453
	85,400		Ritchie Bros Auctioneers, Inc		3,082
	155,900		Riverstone Holdings Ltd		135
	372,600		Robert Half International, Inc		26,224
	292,700		Rollins, Inc		17,764
	146,311		RPS Group plc		420
	99,156		RR Donnelley & Sons Co		535
	20,016		S1 Corp (Korea)		1,649
	17,052		Sato Corp		565
	178,610		Secom Co Ltd		14,555
	307,469		Securitas AB (B Shares)		5,345
	598,962		Seek Ltd		8,968
	696,324	*	Serco Group plc		887
	213,252		SG Fleet Group Ltd		581
	10,491		SGS S.A.		27,622
	100,500	*,†,m	Shanghai Youngsun Investment C		84
	521,304	e	Shanks Group plc		387
	476,481		SmartGroup Corp Ltd		4,096
	21,980		Societe BIC S.A.		2,012
	50,100		Sohgo Security Services Co Ltd		2,201
	117,992	*	SP Plus Corp		4,307
	75,240	e	SPIE S.A.		1,498

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,743		Sporton International, Inc	$	192
	12,683	e	Staffline Group plc		205
	74,097	e	Stantec, Inc		1,843
	112,224		Steelcase, Inc (Class A)		2,076
	166,446	*	Stericycle, Inc		9,767
	41,000		Sunny Friend Environmental Technology Co Ltd		299
	7,917		Synergie S.A		299
	71,345		Systemax, Inc		2,350
	173,660		Taiwan Secom Co Ltd		502
	285,020		Taiwan-Sogo Shinkong Security Corp		336
	90,000	e	Takeei Corp		658
	20,200		Tanseisha Co Ltd		212
	40,046	*,e	Team, Inc		901
	5,819	*	TeamLease Services Ltd		198
	55,400		TechnoPro Holdings, Inc		3,439
	74,179		Teleperformance		13,994
	175,134		Temp Holdings Co Ltd		4,110
	134,042		Tetra Tech, Inc		9,155
	30,400		Toppan Forms Co Ltd		292
	258,835		Toppan Printing Co Ltd		4,156
	11,600	e	Tosho Printing Co Ltd		82
	301,709	e	Transcontinental, Inc		5,349
	458,884		TransUnion		33,765
	127,510	*	TriNet Group, Inc		7,181
	55,786	*	TrueBlue, Inc		1,453
	22,100		Trust Tech, Inc		862
	33,300		Tus-Sound Environmental Resources Co Ltd		65
	69,326		Unifirst Corp		12,038
	16,000	*,e	United Technology Holdings Co Ltd		571
	28,744		US Ecology, Inc		2,120
	353,493	*	Verisk Analytics, Inc		42,614
	27,094		Viad Corp		1,605
	12,186		VSE Corp		404
	92,216	*	WageWorks, Inc		3,942
	281,000		Waste Connections, Inc		22,415
	1,529,000		Waste Management, Inc		138,160
	6,000	*	WDB Holdings Co Ltd		214
	10,713	*	Willdan Group, Inc		364
	253,984		Wolters Kluwer NV		15,833
	4,000		World Holdings Co Ltd		121
	7,100	*,e	YAMADA Consulting Group Co Ltd		166
	26,800	e	Yumeshin Holdings Co Ltd		268
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,301,079
CONSUMER DURABLES & APPAREL - 2.0%
	560,000		361 Degrees International Ltd		142
	13,820	e	Accell Group		269
	47,085		Acushnet Holdings Corp		1,292
	207,305		Adidas-Salomon AG.		50,698
	632,837		Aksa Akrilik Kimya Sanayii		1,048
	105,000		Alpargatas S.A.		318
	300,100		Alpine Electronics, Inc		5,638
	521,135		Amer Sports Oyj (A Shares)		21,296

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	252,992	*	American Outdoor Brands Corp	$	3,929
	534,157		AmTRAN Technology Co Ltd		235
	2,874,235		Anta Sports Products Ltd		13,721
	7,976		Aquafil S.p.A		113
	210,339		Arcelik AS		482
	38,900		Arezzo Industria e Comercio S.A.		413
	36,708	*	Aritzia, Inc		486
	80,003		Arvind Ltd		351
	112,137		Asics Corp		1,672
	70,683		Bajaj Electricals Ltd		490
	26,986	*	Bang & Olufsen AS (B Shares)		623
	1,205,069		Barratt Developments plc		8,899
	19,536		Bassett Furniture Industries, Inc		415
	20,183		Bata India Ltd		270
	45,044	*	Beazer Homes USA, Inc		473
	331,236		Bellway plc		13,000
	61,105		Beneteau S.A.		982
	307,058		Berkeley Group Holdings plc		14,710
	254,000	e	Best Pacific International Holdings Ltd		85
	200,500	g	Bestway Global Holding, Inc		88
	41,344		Bombay Dyeing & Manufacturing Co Ltd		96
	186,974		Bonava AB		2,683
	19,938,000		Bosideng International Holdings Ltd		2,798
	137,562		Bovis Homes Group plc		1,920
	59,984		Breville Group Ltd		566
	462,576		BRP, Inc		21,686
	533,265	*	BRP, Inc (Toronto)		25,015
	83,149	e	Brunello Cucinelli S.p.A		3,235
	37,525		Brunswick Corp		2,515
	152,435		Burberry Group plc		4,003
	770,000	*,e	C.banner International Holdings Ltd		54
	1,887,573	*	Cairn Homes plc		3,200
	5,552,409	*	Cairn Homes plc (London)		9,477
	207,008		Callaway Golf Co		5,028
	95,672	*,e	Canada Goose Holdings, Inc		6,163
	102,340		Carter’s, Inc		10,091
	27,115	e	Casio Computer Co Ltd		443
	39,850	*	Cavco Industries, Inc		10,082
	14,417	*	CCC S.A.		859
	34,983	*	Century Communities, Inc		918
	10,493		Chargeurs S.A.		257
	2,981,400		China Dongxiang Group Co		498
	970,000		China Lilang Ltd		906
	11,600		Chofu Seisakusho Co Ltd		267
	503		Christian Dior S.A.		216
	625,719		Cie Financiere Richemont S.A.		51,015
	1,026,000		Citychamp Watch & Jewellery Group Ltd		220
	13,600		Clarion Co Ltd		210
	28,802		Clarus Corp		318
	8,000		Cleanup Corp		58
	901,491		Coats Group plc		967
	113,848		Columbia Sportswear Co		10,596
	1,462,700	e	Consorcio ARA, S.A. de C.V.		528
	7,600		Corona Corp		85

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	459,000	e,g	Cosmo Lady China Holdings Co Ltd	$	200
	780,492	g	Countryside Properties plc		3,519
	163,138		Crest Nicholson Holdings plc		744
	194,552	*	CROCS, Inc		4,142
	509,227		Crompton Greaves Consumer Electricals Ltd		1,573
	11,936		Cuckoo Electronics Co Ltd		1,732
	15,569		Culp, Inc		377
	2,230,200		Cyrela Brazil Realty S.A.		5,931
	108,625	*	Deckers Outdoor Corp		12,881
	49,095		De’Longhi S.p.A.		1,539
	4,939		Delta-Galil Industries Ltd		146
	21,990		Descente Ltd		461
	137,515		DFS Furniture plc		387
	16,858		Dorel Industries, Inc (Class B)		299
	722,152		DR Horton, Inc		30,460
	193,413		Eclat Textile Co Ltd		2,393
	761,402		Electrolux AB (Series B)		16,773
	16,782		Escalade, Inc		216
	17,300	*	ES-Con Japan Ltd		122
	30,628		Ethan Allen Interiors, Inc		636
	40,135		Ez Tec Empreendimentos e Participacoes S.A.		167
	59,484		F&F Co Ltd		4,520
	1,567,672		Feng TAY Enterprise Co Ltd		9,654
	12,200	e	Fields Corp		102
	185,702		Fila Korea Ltd		7,512
	9,344		Flexsteel Industries, Inc		278
	863		Forbo Holding AG.		1,384
	2,242,852		Formosa Taffeta Co Ltd		2,736
	62,634		Forus S.A.		174
	186,261	*,e	Fossil Group, Inc		4,336
	57,191	e	Foster Electric Co Ltd		721
	14,400		France Bed Holdings Co Ltd		124
	339,999	*,e,m	Fuguiniao Co Ltd		0^
	46,000	e	Fujibo Holdings Inc		1,415
	38,000	e	Fujitsu General Ltd		638
	144,214		Games Workshop Group plc		7,115
	178,987		Garmin Ltd		12,538
	46,924	e	Geox S.p.A.		118
	15,891		Gerry Weber International AG.		52
	541,439		Giant Manufacturing Co Ltd		2,322
	164,561	*	G-III Apparel Group Ltd		7,930
	397,803		Gildan Activewear, Inc		12,104
	2,402,375	*,g	Glenveagh Properties plc		2,706
	2,700,000	*,e,g	Glenveagh Properties plc (London)		3,099
	8,126,000	*,e	Global Brands Group Holding Ltd		424
	7,300	e	Goldwin, Inc		504
	549,000	e	Goodbaby International Holding		220
	154,553	*,e	GoPro, Inc		1,113
	57,100	*	Gree Electric Appliances, Inc of Zhuhai		334
	34,011	*	Green Brick Partners, Inc		343
	5,600		Guararapes Confeccoes S.A.		144
	45,000		Gunze Ltd		2,266
	1,425,944		Haier Electronics Group Co Ltd		3,861

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,345		Hamilton Beach Brands Holding Co	$	205
	9,830		Handsome Co Ltd		332
	2,565,330	e	Hanesbrands, Inc		47,279
	12,003		Hansae Co Ltd		235
	9,927		Hanssem Co Ltd		686
	42,738		Hasbro, Inc		4,493
	1,836,300		Haseko Corp		23,850
	104,800		Heilan Home Co Ltd		157
	49,000	e	Heiwa Corp		1,093
	76,657	*	Helen of Troy Ltd		10,034
	26,364,000	*	HengTen Networks Group Ltd		991
	24,998		Hermes International		16,562
	19,669		Himatsingka Seide Ltd		60
	5,000	*	Hinokiya Group Co Ltd		131
	4,724		Hitachi Home & Life Solutions India Ltd		120
	34,235	*,e	HLB, Inc		3,703
	102,680		Hooker Furniture Corp		3,471
	466,000	†,m	Hosa International Ltd		17
	176,145	*,e	Hovnanian Enterprises, Inc (Class A)		282
	25,575		HS Industries Co Ltd		195
	15,086		Hugo Boss AG.		1,161
	380,093		Husqvarna AB (B Shares)		3,231
	65,725	e	Hwaseung Enterprise Co Ltd		841
	1,712	*	Hyosung TNC Co Ltd		287
	18,925		Hyundai Livart Furniture Co Ltd		416
	13,906		IC Companys AS		136
	6,510	*	IFB Industries Ltd		94
	305,825	e	Iida Group Holdings Co Ltd		5,435
	29,601	*	Installed Building Products Inc		1,154
	35,848	*	iRobot Corp		3,940
	30,300		Japan Wool Textile Co Ltd		251
	138,299	*	Jinshan Development & Construction Co Ltd		82
	335,052	e	JM AB		6,570
	157,500		JNBY Design Ltd		279
	15,710		Johnson Outdoors, Inc		1,461
	326,700		JVC KENWOOD Holdings, Inc		917
	54,608		Kaufman & Broad S.A.		2,563
	447,776		KB Home		10,706
	783,000		Kinpo Electronics		276
	39,956		KMC Kuei Meng International In		139
	481,500		Konka Group Co Ltd		170
	12,784		KPR Mill Ltd		107
	45,700		Kurabo Industries Ltd		1,241
	6,013		Kyungbang Ltd		70
	14,142		LA Opala RG Ltd		43
	125,056		La-Z-Boy, Inc		3,952
	377,776		Lealea Enterprise Co Ltd		136
	14,800	*,e	LEC, Inc		384
	259,291		Leggett & Platt, Inc		11,354
	33,588		Lennar Corp (B Shares)		1,293
	682,120		Lennar Corp (Class A)		31,848
	148,901		LG Electronics, Inc		9,528
	54,795		LG Fashion Corp		1,287
	24,034	*,e	LGI Homes, Inc		1,140

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,023,520	*	Li Ning Co Ltd	$	969
	32,467		Lifetime Brands, Inc		354
	5,343	*,e	Lovesac Co		133
	2,215		LPP S.A.		5,182
	396,173	*	Lululemon Athletica, Inc		64,374
	1,438,024		Luthai Textile Co Ltd		1,708
	215,258		Luxottica Group S.p.A.		14,589
	392,043		LVMH Moet Hennessy Louis Vuitton S.A.		138,537
	120,945	*	M/I Homes, Inc		2,894
	107,735		Makalot Industrial Co Ltd		534
	80,288	*	Malibu Boats Inc		4,393
	978,000	e	Man Wah Holdings Ltd		585
	6,442	*,†,m	Mariella Burani S.p.A.		0
	34,938		Marine Products Corp		800
	7,300		Mars Engineering Corp		155
	953,704	*,e	Mattel, Inc		14,973
	24,270	g	Mavi Giyim Sanayi Ve Ticaret AS.		144
	272,000		MC Group PCL		108
	191,300	*	MCBC Holdings, Inc		6,864
	282,642	g	McCarthy & Stone plc		494
	125,052		MDC Holdings, Inc		3,699
	123,000		Merida Industry Co Ltd		576
	116,457	*	Meritage Homes Corp		4,647
	693,229	*	Michael Kors Holdings Ltd		47,528
	44,500	m	Midea Group Co Ltd		261
	11,500		Misawa Homes Co Ltd		90
	39,300		Mizuno Corp		988
	198,815	*	Mohawk Industries, Inc		34,862
	499,031		Moncler S.p.A		21,472
	253,096		Movado Group, Inc		10,605
	1,912,265		MRV Engenharia e Participacoes S.A.		5,819
	3,893		Nacco Industries, Inc (Class A)		127
	219,654		Namco Bandai Holdings, Inc		8,534
	374,000		Nameson Holdings Ltd		50
	28,000		Nan Liu Enterprise Co Ltd		144
	39,553	*	Nautilus, Inc		552
	50,070	*,g	Neinor Homes S.A.		910
	14,106	*	New Home Co Inc		114
	107,273		New Wave Group AB (B Shares)		795
	1,048,844		Newell Rubbermaid, Inc		21,292
	169,000		Nien Made Enterprise Co Ltd		1,323
	3,362,254		Nike, Inc (Class B)		284,850
	315,524		Nikon Corp		5,929
	119,400		Nishat Mills Ltd		135
	75,514		Nobia AB		534
	21,808	*	NVR, Inc		53,883
	362,431		Onward Kashiyama Co Ltd		2,427
	830,835		Oriental Weavers		445
	128,567	g	OVS S.p.A		368
	21,933		Oxford Industries, Inc		1,978
	345,000	e,g	Ozner Water International Holding Ltd		79
	562,778		Pacific Textile Holdings Ltd		480
	615		Page Industries Ltd		279

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,200		Paiho Shih Holdings Corp	$	100
	847,435		Panasonic Corp		9,823
	40,761	e	Pandora AS		2,545
	402,000	*,†,m	Peace Mark Holdings Ltd		0
	18,306	*	Perry Ellis International, Inc		500
	509,598		Persimmon plc		15,689
	233,446	*	Peter England Fashions and Retail Ltd		591
	437,907		Photo-Me International plc		710
	20,656	m	PIK Group (GDR)		109
	220,800	*,e	Pioneer Corp		225
	81,048,570		Playmates Holdings Ltd		10,556
	98,819		Polaris Industries, Inc		9,976
	2,115,341		Pou Chen Corp		2,233
	11,841,726		Prada S.p.A		56,579
	350,900		Pressance Corp		4,488
	45,794,500		PT Sri Rejeki Isman Tbk		1,057
	1,001,600		Pulte Homes, Inc		24,810
	5,820		Puma AG. Rudolf Dassler Sport		2,872
	16,194	*	Puma SE		7,991
	8,073	*,e	Purple Innovation, Inc		47
	339,729		PVH Corp		49,057
	250,000	e	Q Technology Group Co Ltd		162
	56,600		Qingdao Haier Co Ltd		136
	27,000		Quang Viet Enterprise Co Ltd		122
	205,444		Rajesh Exports Ltd		1,916
	69,218		Ralph Lauren Corp		9,521
	67,896		Raymond Ltd		622
	1,431,998		Redrow plc		10,884
	240,000	g	Regina Miracle International Holdings Ltd		164
	51,444		Rinnai Corp		3,922
	8,220		Rocky Brands, Inc		233
	362,928	*,e	Roku, Inc		26,505
	465,000	*	Roo Hsing Co Ltd		183
	606,956		Ruentex Industries Ltd		1,206
	21,209	*,e	Safilo Group S.p.A.		52
	33,024		Salvatore Ferragamo Italia S.p.A		789
	31,500		Sangetsu Co Ltd		618
	122,321		Sankyo Co Ltd		4,785
	20,496		SEB S.A.		3,486
	42,104		Sega Sammy Holdings, Inc		621
	70,000	e	Seiko Holdings Corp		1,971
	715,030		Seiren Co Ltd		12,120
	423,016		Sekisui Chemical Co Ltd		7,801
	1,255,135		Sekisui House Ltd		19,140
	25,656		Sharp Corp		521
	1,278,124		Shenzhou International Group Holdings Ltd		16,400
	22,445		Shimano, Inc		3,619
	3,648		Sioen Industries NV		102
	82,467	*	Skechers U.S.A., Inc (Class A)		2,303
	109,640		Skyline Corp		3,132
	1,988,000		Skyworth Digital Holdings Ltd		561
	26,008	*	SodaStream International Ltd		3,721
	22,266	*,e	Sonos, Inc		357
	4,824,509		Sony Corp		293,270

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	596,272	*,e,g	Spin Master Corp	$	23,645
	36,189		SRF Ltd		855
	54,300	e	Starts Corp, Inc		1,197
	77,029		Steven Madden Ltd		4,075
	22,652	e	Sturm Ruger & Co, Inc		1,564
	137,554	e	Sumitomo Forestry Co Ltd		2,391
	11,463		Superior Uniform Group, Inc		218
	4,496		Surteco SE		114
	25,562		Swatch Group AG.		10,159
	203,187		Swatch Group AG. (Registered)		15,826
	11,307		Symphony Ltd		153
	636,602		Tainan Spinning Co Ltd		277
	142,600		Taiwan Paiho Ltd		283
	10,500		Tamron Co Ltd		224
	1,653,641		Tapestry, Inc		83,129
	1,232,298	*	Tatung Co Ltd		1,626
	323,033	*	Taylor Morrison Home Corp		5,827
	4,819,065		Taylor Wimpey plc		10,772
	451,000		TCL Multimedia Technology Holdings Ltd		214
	316,162	g	Technogym S.p.A		3,870
	1,232,573		Techtronic Industries Co		7,862
	18,826		Ted Baker plc		568
	158,894	e	Telford Homes plc		860
	374,293	*,e	Tempur Sealy International, Inc		19,800
	1,984,000		Texhong Textile Group Ltd		2,974
	458,000		Texwinca Holdings Ltd		181
	133,757	g	Thule Group AB		3,231
	614,350		Titan Industries Ltd		6,830
	6,139	e	Tod’s S.p.A.		418
	27,090		Token Corp		1,775
	263,097		Toll Brothers, Inc		8,690
	82,054	*	TomTom NV		672
	51,868		Tomy Co Ltd		534
	61,830	*	TopBuild Corp		3,513
	204,987	*	TRI Pointe Homes, Inc		2,542
	9,546		Trigano S.A.		1,044
	37,800		TSI Holdings Co Ltd		275
	165,603		Tsutsumi Jewelry Co Ltd		3,198
	1,920		TTK Prestige Ltd		169
	67,390		Tupperware Corp		2,254
	114,776	*,e	Turtle Beach Corp		2,289
	308,493	*,e	Under Armour, Inc		6,003
	1,097,438	*,e	Under Armour, Inc (Class A)		23,288
	19,830	*	Unifi, Inc		562
	214,600	*	Unitika Ltd		1,368
	17,478	*	Universal Electronics, Inc		688
	25,600	e	Universal Entertainment Corp		780
	3,870		VAN DE Velde		114
	28,607		Vardhman Textiles Ltd		401
	64,183	*	Vera Bradley, Inc		979
	66,384	*	Vestel Elektronik Sanayi		90
	632,671		VF Corp		59,123
	71,672	*,e	Victoria plc		656

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,438		VIP Industries Ltd	$	128
	100,300	*	Vista Outdoor, Inc		1,794
	65,600	*	Vulcabras Azaleia S.A.		82
	34,166	*,e	Vuzix Corp		224
	27,513		Wacoal Holdings Corp		789
	526,619		Welspun India Ltd		425
	114,831		Whirlpool Corp		13,636
	37,423		Whirlpool of India Ltd		697
	92,188	*	William Lyon Homes, Inc		1,465
	448,444		Wolverine World Wide, Inc		17,512
	54,811		Woongjin Coway Co Ltd		4,289
	993,500		XTEP International Holdings		574
	36,781		Yamaha Corp		1,949
	10,500	e	Yondoshi Holdings, Inc		220
	37,000	e	Yonex Co Ltd		250
	14,040		Youngone Corp		500
	7,872		Youngone Holdings Co Ltd		460
	560,907		Yue Yuen Industrial Holdings		1,559
	274,731	*	Zagg, Inc		4,052
	27,764		Zeng Hsing Industrial Co Ltd		129
	26,000	e	Zojirushi Corp		368
			TOTAL CONSUMER DURABLES & APPAREL		2,496,704
CONSUMER SERVICES - 1.9%
	9,600	*,e	500.com Ltd (ADR)		106
	231,956		888 Holdings plc		602
	406,946		AA plc		514
	54,968	*,g	AcadeMedia AB		305
	3,168,848		Accor S.A.		162,790
	14,953,900		Accordia Golf Trust		5,962
	80,580	*	Adtalem Global Education, Inc		3,884
	301,833		Advtech Ltd		317
	4,600		Aeon Fantasy Co Ltd		171
	68,591	e	Ainsworth Game Technology Ltd		60
	330,000		Ajisen China Holdings Ltd		136
	470,900		Alsea SAB de C.V.		1,602
	34,531	*	American Public Education, Inc		1,141
	711,988		ARAMARK Holdings Corp		30,630
	12,100		ARCLAND SERVICE Co Ltd		229
	5,786,594		Arcos Dorados Holdings, Inc		36,166
	266,985		Ardent Leisure Group		344
	802,278		Aristocrat Leisure Ltd		16,476
	60,000	e	Atom Corp		540
	80,795		Autogrill S.p.A.		825
	39,622	*,g	Basic-Fit NV		1,348
	145,713		BBX Capital Corp		1,081
	945,696	*	Belmond Ltd.		17,259
	98,725		Benesse Holdings Inc		2,811
	2,151,700		Berjaya Sports Toto BHD		1,232
	1,793		bet-at-home.com AG.		124
	548,492		Betsson AB		4,222
	154	*	Biglari Holdings, Inc (A Shares)		142
	5,246	*	Biglari Holdings, Inc (B Shares)		951
	55,805		BJ’s Restaurants, Inc		4,029

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,500	*	BK Brasil Operacao e Assessoria a Restaurantes S.A.	$	268
	2,248,600		Bloomberry Resorts Corp		365
	721,275		Bloomin’ Brands, Inc		14,274
	10,804	e	Bluegreen Vacations Corp		193
	21,335	*	Bojangles’, Inc		335
	259,277		Boyd Gaming Corp		8,777
	102,439	*	Bright Horizons Family Solutions		12,071
	59,482	e	Brinker International, Inc		2,780
	7,000		BRONCO BILLY Co Ltd		228
	210,050	*,e	Caesars Entertainment Corp		2,153
	234,000	e	Cafe de Coral Holdings Ltd		535
	29,646	*	Cambium Learning Group, Inc		351
	391,514	*	Career Education Corp		5,845
	1,182,538		Carnival Corp		75,410
	64,352		Carnival plc		3,993
	236,887		Carriage Services, Inc		5,105
	484,518	*	Carrols Restaurant Group, Inc		7,074
	46,958	*	Century Casinos, Inc		350
	57,782	e	Cheesecake Factory		3,094
	144,047	*	Chegg, Inc		4,095
	32,670	*,e	Cherry AB		209
	36,800		China International Travel Service Corp Ltd		364
	1,104,000		China Maple Leaf Educational Systems Ltd		580
	277,000	g	China New Higher Education Group Ltd		190
	2,746,000		China Travel International Inv HK		883
	732,640	g	China Yuhua Education Corp Ltd		353
	94,537	*	Chipotle Mexican Grill, Inc (Class A)		42,969
	13,324		Choice Hotels International, Inc		1,110
	15,633		Churchill Downs, Inc		4,341
	21,363	*	Chuy’s Holdings, Inc		561
	10,868		Cie des Alpes		378
	53,550		City Lodge Hotels Ltd		529
	69,590	*	Codere S.A.		580
	78,811		Collins Foods Ltd		353
	35,700	e	Colowide Co Ltd		913
	1,013,033		Compass Group plc		22,523
	63,866		Corporate Travel Management Ltd		1,409
	102,189		Cox & Kings India Ltd		237
	25,862	e	Cracker Barrel Old Country Store, Inc		3,805
	30,500		Create Restaurants Holdings, Inc		356
	466,894		Crown Resorts Ltd		4,617
	110,048	*,e	Curro Holdings Ltd		230
	94,100		CVC Brasil Operadora e Agencia de Viagens S.A.		1,009
	212,343		Dadi Early-Childhood Education Group Ltd		1,506
	16,116		Daekyo Co Ltd		106
	73,000		Dahan Development Corp		155
	4,200	e	Daisyo Corp		63
	233,259		Dalata Hotel Group plc		1,855
	127,765	n	Darden Restaurants, Inc		14,206
	96,424		Dave & Buster’s Entertainment, Inc		6,385
	44,309	*	Del Frisco’s Restaurant Group, Inc		368
	40,957	*	Del Taco Restaurants, Inc		484

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	135,184	*	Denny’s Corp	$	1,990
	140,679		Dignity plc		1,862
	22,632	e	DineEquity, Inc		1,840
	4,209		DO & CO AG.		367
	42,715		Domino’s Pizza Enterprises Ltd		1,643
	2,007,114		Domino’s Pizza Group plc		7,309
	62,806		Domino’s Pizza, Inc		18,515
	11,800,000	e	Donaco International Ltd		1,493
	5,328		DoubleUGames Co Ltd		331
	19,900		Doutor Nichires Holdings Co Ltd		370
	80,048	*	Drive Shack, Inc		477
	2,163,105	*	Dubai Parks & Resorts PJSC		206
	166,417		Dunkin Brands Group, Inc		12,268
	1,734,800		Dynam Japan Holdings Co Ltd		2,150
	128,725		EIH Ltd		263
	114,285	*	El Pollo Loco Holdings, Inc		1,434
	89,102	*,e	Eldorado Resorts, Inc		4,330
	74,538	e,g	Elior Participations S.C.A		1,154
	19,515	*	Emerson Pacific, Inc		185
	240,000		Emperor Entertainment Hotel Ltd		46
	5,197	*,e	Empire Resorts, Inc		48
	69,516	e	EnerCare, Inc		1,558
	379,038	*	Enterprise Inns plc		818
	833,200		Erawan Group PCL		209
	661,500		Estacio Participacoes S.A.		4,093
	33,193	g	Evolution Gaming Group AB		2,362
	1,942,116		Extended Stay America, Inc		39,289
	48,000		Fairwood Holdings Ltd		168
	45,542	*	Famous Brands Ltd		318
	32,320	*	Fiesta Restaurant Group, Inc		865
	163,903	e	Flight Centre Travel Group Ltd		6,294
	12,990		Formosa International Hotels Corp		58
	616,000		Fu Shou Yuan International Group Ltd		481
	13,899	e	Fuji Kyuko Co Ltd		455
	5,400	e	Fujita Kanko, Inc		163
	260,877	e	G8 Education Ltd		377
	27,100		GAEC Educacao S.A.		92
	2,492,974		Galaxy Entertainment Group Ltd		15,748
	282,306	*,e	Gaming Innovation Group, Inc		92
	8,317,892		Genting BHD		15,695
	6,382,771		Genting Singapore Ltd		4,948
	1,759,078		Gold Reef Resorts Ltd		2,537
	25,206	*,e	Golden Entertainment, Inc		605
	57,155		Gourmet Master Co Ltd		490
	2,315		Graham Holdings Co		1,341
	103,064	*	Grand Canyon Education, Inc		11,626
	21,139		Grand Korea Leisure Co Ltd		475
	83,676	*	Great Canadian Gaming Corp		2,999
	201,717		Greene King plc		1,288
	148,857		Greggs plc		2,045
	498,247		GVC Holdings plc		5,962
	589,991		H&R Block, Inc		15,192
	78,705	*,e	Habit Restaurants, Inc		1,255
	820,000	*,g	Haichang Holdings Ltd		175

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,224		Hana Tour Service, Inc	$	415
	14,396		Hiday Hidaka Corp		290
	74,762	*	Hilton Grand Vacations, Inc		2,475
	106,179		Hilton Worldwide Holdings, Inc		8,577
	22,300		HIS Co Ltd		746
	245,700	*	Hoteles City Express SAB de C.V.		304
	471,689	*	Houghton Mifflin Harcourt Co		3,302
	26,175		Huangshan Tourism Development Co Ltd		32
	4,290,000	*,e	Huayi Tencent Entertainment Co Ltd		162
	144,700		Huazhu Group Ltd (ADR)		4,674
	73,210		Hyatt Hotels Corp		5,827
	10,800	e	Ichibanya Co Ltd		430
	412,359		IDP Education Ltd		3,073
	489,091		Indian Hotels Co Ltd		924
	82,724		InterContinental Hotels Group plc		5,149
	1,487,908	e	International Game Technology plc		29,386
	44,294		International Speedway Corp (Class A)		1,940
	69,628	e	Invocare Ltd		622
	62,219	*	J Alexander’s Holdings, Inc		740
	93,257		Jack in the Box, Inc		7,818
	150,632	*	Jackpotjoy plc		1,490
	416,567		Jollibee Foods Corp		1,981
	79,758		Jubilant Foodworks Ltd		1,354
	84,876	*	K12, Inc		1,502
	296,084		Kangwon Land, Inc		7,660
	15,600	e	Kappa Create Co Ltd		186
	15,200	e	Kisoji Co Ltd		357
	8,600	*	KNT-CT Holdings Co Ltd		99
	75,000		KOMEDA Holdings Co Ltd		1,517
	29,500		Koshidaka Holdings Co Ltd		339
	1,208,545		Kroton Educacional S.A.		3,411
	7,900		Kura Corp		513
	22,500	e	Kyoritsu Maintenance Co Ltd		951
	906,652	*,†,m	Ladbrokes Coral Group plc		133
	1,656,228		Las Vegas Sands Corp		98,264
	301,671	*	Laureate Education, Inc		4,658
	142,237	e,g	LeoVegas AB		963
	28,074	*	Lindblad Expeditions Holdings, Inc		417
	8,303	*	Lotte Tour Development Co Ltd		117
	7,061,000		Macau Legend Development Ltd		1,280
	1,430,800		Magnum BHD		664
	24,112		Mahindra Holidays & Resorts India Ltd		71
	409,900	e	Mandarin Oriental International Ltd		840
	885,570		Marriott International, Inc (Class A)		116,922
	74,265	e	Marriott Vacations Worldwide Corp		8,299
	412,137		Marston’s plc		530
	5,300		Matsuya Foods Co Ltd		169
	1,200,000		Max’s Group, Inc		260
	1,859,054		McDonald’s Corp		311,001
	73,353		McDonald’s Holdings Co Japan Ltd		3,221
	13,000		Meiko Network Japan Co Ltd		121
	2,967,394	e	Melco Crown Entertainment Ltd (ADR)		62,760
	2,763,000		Melco International Development		5,500

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,850,200	*	Melco Resorts And Entertainment Philippines Corp	$	4,025
	72,752		Melia Hotels International S.A.		813
	130,104	g	Merlin Entertainments plc		679
	2,526,500	e	MGM China Holdings Ltd		3,989
	151,471		MGM Resorts International		4,228
	1		Minor International PCL (ADR)		0	^
	1,581,008		Minor International PCL (Foreign)		2,005
	198,746		Mitchells & Butlers plc		683
	9,816		Modetour Network, Inc		223
	14,440	*	Monarch Casino & Resort, Inc		656
	3,800		Monogatari Corp		372
	16,500	e	MOS Food Services, Inc		430
	38,072	e	MTY Food Group, Inc		1,894
	4,091		Nathan’s Famous, Inc		337
	148,160		Navitas Ltd		479
	121,276		NetEnt AB		490
	151,098		New Oriental Education & Technology Group (ADR)		11,183
	133,969		NH Hoteles S.A.		976
	19,513	*,e	Noodles & Co		236
	133,190	*	Norwegian Cruise Line Holdings Ltd		7,649
	9,800		Ohsho Food Service Corp		684
	599,906		OPAP S.A.		6,298
	10,979	*	Orascom Development Holding AG.		133
	234,591		Oriental Land Co Ltd		24,528
	21,275		Paddy Power plc		1,816
	81,782		Pandox AB		1,465
	30,701	e	Papa John’s International, Inc		1,574
	28,249		Paradise Co Ltd		533
	48,524		Park Lawn Corp		1,000
	1,175,063	g	Parques Reunidos Servicios Centrales SAU		15,690
	38,470		Patisserie Holdings plc		218
	1,080,347	*	Penn National Gaming, Inc		35,565
	9,000	e	Pepper Food Service Co Ltd		318
	8,200	e	PIA Corp		424
	2,772	*	Pierre & Vacances		90
	70,386	*	Pinnacle Entertainment, Inc		2,371
	173,148		Planet Fitness, Inc		9,355
	63,909	*	PlayAGS, Inc		1,883
	206,763		Playtech Ltd		1,312
	11,900	e	Plenus Co Ltd		194
	32,595	*	Potbelly Corp		401
	6,113,000		Premium Leisure Corp		98
	29,298		RCI Hospitality Holdings, Inc		868
	237,504		Recipe Unlimited Corp		5,349
	21,742	*	Red Lion Hotels Corp		272
	18,265	*	Red Robin Gourmet Burgers, Inc		733
	1,120,749		Red Rock Resorts, Inc		29,868
	332,000		Regal Hotels International Holdings Ltd		182
	117,836	*	Regis Corp		2,407
	3,114,829		Resorts World BHD		3,755
	54,400	e	Resorttrust, Inc		897
	1,102,951	e	Restaurant Brands International, Inc		65,383
	170,631	e	Restaurant Brands International, Inc (Toronto)		10,103

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	81,236		Restaurant Brands New Zealand Ltd	$	421
	128,614	e	Restaurant Group plc		498
	30,482		Rezidor Hotel Group AB		125
	15,500	e	Ringer Hut Co Ltd		328
	8,900	*,e	RISE Education Cayman Ltd (ADR)		105
	49,700		Round One Corp		658
	469,734		Royal Caribbean Cruises Ltd		61,037
	18,300		Royal Holdings Co Ltd		477
	89,905		Ruth’s Chris Steak House, Inc		2,837
	19,100		Saizeriya Co Ltd		373
	2,801,695		Sands China Ltd		12,617
	317,877	g	Scandic Hotels Group AB		3,566
	110,153	*	Scientific Games Corp (Class A)		2,798
	289,120	*	SeaWorld Entertainment, Inc		9,087
	47,496	g	Ser Educacional S.A.		195
	387,616		Service Corp International		17,133
	470,548	*	ServiceMaster Global Holdings, Inc		29,188
	33,377	*	Shake Shack, Inc		2,103
	45,649		Shanghai Jinjiang International Travel Co Ltd		95
	1,454,120		Shangri-La Asia Ltd		2,152
	125,100		Shenzhen Overseas Chinese Town Co Ltd		115
	1,138		Shinsegae Food Co Ltd		117
	35,400	e	Six Flags Entertainment Corp		2,472
	1,504,148		SJM Holdings Ltd		1,386
	38,027		SkiStar AB (Series B)		948
	1,243,492		Sky City Entertainment Group Ltd		3,304
	160,600	e	Skylark Co Ltd		2,376
	17,903		Sodexho Alliance S.A.		1,899
	46,372	e	Sonic Corp		2,010
	50,018	*	Sotheby’s (Class A)		2,460
	16,525		Speedway Motorsports, Inc		295
	1,430,942		SSP Group plc		13,514
	11,500		St Marc Holdings Co Ltd		268
	240,487	*,e	Stadio Holdings Ltd		71
	588,685		Star Entertainment Grp Ltd		2,207
	2,323,353		Starbucks Corp		132,059
	144,876	*	Stars Group, Inc		3,598
	52,222		Strategic Education Inc		7,156
	5,500	e	Studio Alice Co Ltd		114
	79,675	*	Sun International Ltd		341
	50,200	e	Sushiro Global Holdings Ltd		2,973
	1,345,397		Tabcorp Holdings Ltd		4,733
	363,626	*	TAL Education Group (ADR)		9,349
	22,800	e	Tarena International, Inc (ADR)		185
	76,998	g	Telepizza Group S.A.		456
	90,270		Texas Roadhouse, Inc (Class A)		6,255
	874,722		Thomas Cook Group plc		659
	138,361		Thomas Cook India Ltd		428
	4,300	*,e	TKP Corp		158
	55,700		Tokyo Dome Corp		488
	10,400	e	Tokyotokeiba Co Ltd		400
	14,200	e	Toridoll.corp		309
	11,500		Tosho Co Ltd		467

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,455	*,e	Town Sports International Holdings, Inc	$	177
	2,125,157		TUI AG. (DI)		40,766
	17,500	*,e	Tuniu Corp (ADR)		126
	710,554		Unibet Group plc (ADR)		7,965
	121,841		Vail Resorts, Inc		33,436
	3,647	*,g	Vapiano SE		37
	15,600	e	Watami Co Ltd		178
	158,657	*	Weight Watchers International, Inc		11,422
	343,371		Wendy’s		5,885
	44,651		Wetherspoon (J.D.) plc		760
	165,311		Whitbread plc		10,160
	663,102		William Hill plc		2,179
	74,415		Wingstop, Inc		5,080
	410,000		Wisdom Education International Holdings Co Ltd		216
	41,220		Wowprime Corp		111
	59,059		Wyndham Hotels & Resorts, Inc		3,282
	108,249		Wyndham Worldwide Corp		4,694
	3,935,561		Wynn Macau Ltd		9,038
	439,577	n	Wynn Resorts Ltd		55,853
	9,300		Yomiuri Land Co Ltd		372
	14,811		Yong Pyong Resort Co Ltd		96
	42,400	e	Yoshinoya D&C Co Ltd		672
	1,848,189		Yum China Holdings, Inc		64,890
	897,949		Yum! Brands, Inc		81,633
	72,900	e	Zensho Co Ltd		1,438
	27,260	*,e	Zoe’s Kitchen, Inc		347
			TOTAL CONSUMER SERVICES		2,427,002
DIVERSIFIED FINANCIALS - 3.6%
	666,797		3i Group plc		8,165
	22,247		ABC Arbitrage		161
	17,139		Ackermans & Van Haaren		2,983
	62,830	e	Acom Co Ltd		253
	129,200		Aeon Credit Service M BHD		503
	38,970		AEON Financial Service Co Ltd		807
	33,128		Affiliated Managers Group, Inc		4,529
	88,666		AG Mortgage Investment Trust		1,612
	115,655		AGF Management Ltd		547
	909,610		AGNC Investment Corp		16,946
	213,500	*,e	Aiful Corp		640
	35,651		Aker ASA (A Shares)		3,215
	1,792,599		Al Waha Capital PJSC		910
	22,839		Alaris Royalty Corp		359
	580,826		Alexander Forbes Group Holdings Ltd		203
	126,953	*,e	Allied Minds plc		120
	983,912		Ally Financial, Inc		26,024
	811,840		Amanat Holdings PJSC		250
	3,131,342		American Express Co		333,457
	324,794		Ameriprise Financial, Inc		47,959
	3,348,690		AMP Ltd		7,720
	487,007	g	Amundi S.A.		36,471
	1,812,427	g	Anima Holding S.p.A		8,881
	1,915,984		Annaly Capital Management, Inc		19,601
	129,369		Anworth Mortgage Asset Corp		599

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	165,045		Apollo Commercial Real Estate Finance, Inc	$	3,114
	87,139	e	Arbor Realty Trust, Inc		1,000
	222,474		Ares Commercial Real Estate Corp		3,108
	34,522	e	Arlington Asset Investment Corp (Class A)		322
	55,497	*	ARMOUR Residential REIT, Inc		1,246
	119,477	e	Arrow Global Group plc		360
	64,926		Artisan Partners Asset Management, Inc		2,104
	1,171	*	Ashford, Inc		89
	1,949,704		Ashmore Group plc		9,227
	12,981	*,†,m	Asia Pacific Investment Partners Ltd		0	^
	3,970	e	Associated Capital Group, Inc		169
	17,565		Aurelius AG.		927
	484,699		Australian Stock Exchange Ltd		22,295
	14,657	e	Avanza AB		666
	2,702,469		AXA Equitable Holdings, Inc		57,968
	76,548	*,e	Axactor AB		234
	333,416		Ayala Corp		5,725
	2,215	*,†,m	Ayala Corp Preferred		0	^
	99,215	e	Azimut Holding S.p.A.		1,491
	26,428		B. Riley Financial, Inc		599
	554,127	e	B2Holding ASA		1,101
	1,996,853		B3 S.A.-Brasil Bolsa Balcao		11,570
	284,273		Bajaj Finance Ltd		8,510
	63,256	g	Banca Farmafactoring S.p.A		377
	263,699		Banca Generali S.p.A		6,792
	44,188		Banca IFIS S.p.A.		993
	198,519		Banca Mediolanum S.p.A		1,346
	41,394		Banco Latinoamericano de Exportaciones S.A. (Class E)		866
	2,874,527		Bank of New York Mellon Corp		146,572
	1,140,716		BGC Partners, Inc (Class A)		13,483
	213,714		BinckBank NV		1,314
	71,954		BlackRock, Inc		33,914
	974,333		Blackstone Group LP		37,103
	281,907	e	Blackstone Mortgage Trust, Inc		9,447
	484,000	e	BOCOM International Holdings Co Ltd		96
	328,700		Bolsa Mexicana de Valores S.A. de C.V.		672
	48,970		Bolsas y Mercados Espanoles		1,579
	216,598	*,e	Brait S.A.		579
	449,274		Brewin Dolphin Holdings plc		2,005
	750,000	e	Bright Smart Securities & Commodities Group Ltd		156
	1,116,021		Brookfield Asset Management, Inc		49,673
	178,474		BSE Ltd		1,681
	207,405		BT Investment Management Ltd		1,317
	60,247		Bure Equity AB		771
	369,791		Burford Capital Ltd		9,359
	559,050		Bursa Malaysia BHD		1,056
	291,169		Canaccord Financial, Inc		1,555
	224,584	*	Cannae Holdings, Inc		4,705
	926,333		Capital First Ltd		6,264
	626,917		Capital One Financial Corp		59,513
	580,990		Capital Securities Corp		196
	126,301		Capstead Mortgage Corp		999

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	252,980		CBOE Holdings, Inc	$	24,276
	56,269		Cembra Money Bank AG.		5,094
	12,058		Central Depository Services India Ltd		37
	110,200	e	Century Leasing System, Inc		6,845
	127,354		Cerved Information Solutions S.p.A		1,369
	2,805,028		Chailease Holding Co Ltd		9,818
	568,463		Challenger Financial Services Group Ltd		4,600
	776,298		Charles Schwab Corp		38,155
	15,521		Cherry Hill Mortgage Investment Corp		281
	386,568		Chimera Investment Corp		7,008
	620,000		China Bills Finance Corp		284
	22,519,105		China Cinda Asset Management Co Ltd		5,692
	1,031,125		China Everbright Ltd		1,847
	12,408,545		China Galaxy Securities Co Ltd		5,772
	10,860,000	g	China Huarong Asset Management Co Ltd		1,996
	2,047,200	e,g	China International Capital Corp Ltd		3,771
	3,481	*,e	China Internet Nationwide Financial Services, Inc		30
	472,000	*	China Investment Fund International Holdings Co Ltd		1,180
	1,312,000	*,e	China LNG Group Ltd		194
	930,000	*	China Tonghai International Financial Ltd		90
	18,820,000	*,e	Chong Sing Holdings FinTech Gr		1,010
	655,176		CI Financial Corp		10,403
	2,527,915		CITIC Securities Co Ltd		4,482
	120,800		CITIC Securities Co Ltd (Class A)		293
	5,214,355	e	ClearView Wealth Ltd		3,543
	379,503		Close Brothers Group plc		7,822
	385,095	g	CMC Markets plc		698
	619,497		CME Group, Inc		105,445
	59,861		Coface S.A.		568
	30,030		Cohen & Steers, Inc		1,220
	113,323	e	Colony Credit Real Estate, Inc		2,492
	953,700		Concentradora Hipotecaria SAPI de C.V.		839
	195,416		Coronation Fund Managers Ltd		745
	9,494		Corp Financiera Alba		527
	55,262		Corp Financiera Colombiana S.A.		410
	111,651	*,e	Cowen Group, Inc		1,820
	84,387	*,e	Credit Acceptance Corp		36,967
	22,917		Credit Analysis & Research Ltd		375
	42,339	e	Credit Corp Group Ltd		681
	86,842		Credit Saison Co Ltd		1,416
	9,726,197		Credit Suisse Group		145,946
	675,351		Credito Real SAB de C.V.		927
	25,037		CRISIL Ltd		606
	15,941	*	Curo Group Holdings Corp		482
	411,404		Daewoo Securities Co Ltd		3,141
	51,842		Daishin Securities Co Ltd		584
	13,887		Daishin Securities Co Ltd PF		118
	1,660,575		Daiwa Securities Group, Inc		10,099
	10,212		Daou Data Corp		104
	125,902		Daou Technology, Inc		2,542
	281,032		DeA Capital S.p.A.		414
	419,816		Deutsche Bank AG. (Registered)		4,782
	7,871		Deutsche Beteiligungs AG.		323

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	97,216		Deutsche Boerse AG.	$	12,998
	4,736		Diamond Hill Investment Group, Inc		783
	1,155,000	*	Dingyi Group Investment Ltd		83
	375,315		Discover Financial Services		28,693
	360,170	g	doBank S.p.A		3,957
	59,679	*	Donnelley Financial Solutions, Inc		1,069
	69,705		Dynex Capital, Inc		445
	1,728,010	*	E*TRADE Financial Corp		90,530
	202,087		Eaton Vance Corp		10,622
	196,197		Eclipx Group Ltd		364
	194,022		ECN Capital Corp		566
	634,808		Edelweiss Capital Ltd		1,662
	6,582	*	EFG Financial Products Holding AG.		340
	181,840		EFG International		1,386
	388,785		Egyptian Financial Group-Hermes Holding		373
	290,631	e	Element Financial Corp		1,496
	25,361	*,e	Elevate Credit, Inc		204
	2,022,000	e	Emperor Capital Group Ltd		102
	35,207	*,e	Encore Capital Group, Inc		1,262
	325,761	*	Enova International, Inc		9,382
	14,403		Eurazeo		1,134
	1,584,459	g	Euronext NV		104,107
	152,105		Evercore Partners, Inc (Class A)		15,294
	98,319		Exantas Capital Corp		1,080
	199,550		EXOR NV		13,314
	64,301	*,e	Ezcorp, Inc (Class A)		688
	59,685		Factset Research Systems, Inc		13,352
	4,932,276		Far East Horizon Ltd		4,694
	130,964		Federated Investors, Inc (Class B)		3,159
	6,399		Ferratum Oyj		111
	392,467	*	FGL Holdings		3,513
	30,480		Fiera Capital Corp		294
	42,200	e	Financial Products Group Co Ltd		404
	6,937	*	FinTech Group AG.		241
	2,856,500		First Pacific Co		1,408
	146,198		FirstCash, Inc		11,988
	3,514,432		FirstRand Ltd		16,858
	158,310		FlexiGroup Ltd		219
	249,276	g	Flow Traders		7,322
	25,394	*	Focus Financial Partners, Inc		1,205
	194,715		Franklin Resources, Inc		5,921
	4,180,000	*	Freeman Financial Corp Ltd		42
	7,537,461		Fubon Financial Holding Co Ltd		12,785
	39,619,242		Fuhwa Financial Holdings Co Ltd		20,885
	16,000		Fuyo General Lease Co Ltd		973
	34,273	e	Gain Capital Holdings, Inc		223
	6,173		GAMCO Investors, Inc (Class A)		145
	4,978,200	e	Gentera SAB de C.V.		5,052
	24,884	*	Georgia Capital plc		362
	2,532,800		GF Securities Co Ltd		3,239
	104,700		GF Securities Co Ltd (Class A)		211
	12,613		Gimv NV		690
	93,894	e	Gluskin Sheff + Associates, Inc		1,085

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,784,236		Goldman Sachs Group, Inc	$	400,097
	114,522		Granite Point Mortgage Trust, Inc		2,208
	20,292		Great Ajax Corp		276
	186,886	*	Green Dot Corp		16,599
	26,762	e	Greenhill & Co, Inc		705
	15,868		GRENKELEASING AG.		1,886
	77,931		Groupe Bruxelles Lambert S.A.		8,169
	438,745		Grupo de Inversiones Suramericana S.A.		5,147
	219,321		Grupo de Inversiones Suramericana S.A. (Preference)		2,517
	94,115		GT Capital Holdings, Inc		1,427
	276,500	e	Guolian Securities Co Ltd		77
	8,637,800	e	Guotai Junan International Hol		1,510
	10,800		Guotai Junan Securities Co Ltd		24
	1,426,800	e,g	Guotai Junan Securities Co Ltd (Hong Kong)		2,925
	788,559		Haci Omer Sabanci Holding AS		995
	5,942,162		Haitong Securities Co Ltd		5,393
	95,000		Haitong Securities Co Ltd (Class A)		124
	20,694		Hamilton Lane, Inc		916
	15,473		Hankook Tire Worldwide Co Ltd		251
	69,990	*	Hanwha Securities Co		164
	748,075		Hargreaves Lansdown plc		21,777
	39,290		Hellenic Exchanges S.A.		199
	110,200		Hitachi Capital Corp		3,067
	11,310		HMC Investment Securities Co Ltd		99
	40,488	e,g	Hoist Finance AB		341
	1,497,252		Hong Kong Exchanges and Clearing Ltd		42,783
	161,028		Houlihan Lokey, Inc		7,235
	999,500	e	Huarong International Financial Holdings Ltd		105
	4,689,000	*,g	Huatai Securities Co Ltd		6,711
	109,616	*	Huatai Securities Co Ltd (Class A)		251
	2,715	*	Hypoport AG.		624
	62,100		IBJ Leasing Co Ltd		1,661
	150,900		Ichiyoshi Securities Co Ltd		1,568
	365,175	*	IFCI Ltd		60
	2,039,997		IG Group Holdings plc		16,817
	125,520	e	IGM Financial, Inc		3,450
	147,442		India Infoline Ltd		1,037
	1,854,705		Indiabulls Housing Finance Ltd		21,934
	105,582		Indiabulls Securities Ltd		786
	3,814	g	Indian Energy Exchange Ltd		85
	53,862		Industrivarden AB		1,194
	625,533		Infrastructure Development Finance Co Ltd		344
	129,325	*	IntegraFin Holdings plc		598
	197,610		Interactive Brokers Group, Inc (Class A)		10,930
	651,575		IntercontinentalExchange Group, Inc		48,796
	444,268		Intermediate Capital Group plc		6,301
	139,055		International Personal Finance plc		406
	62,672	*	INTL FCStone, Inc		3,028
	76,728		Inversiones La Construccion S.A.		1,341
	218,828		Invesco Ltd		5,007
	151,843		Invesco Mortgage Capital, Inc		2,402
	951,845		Investec Ltd		6,699
	123,853		Investec plc		869

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	49,430		Investment AB Kinnevik (B Shares)	$	1,493
	17,754		Investment AB Oresund		283
	142,993		Investment Technology Group, Inc		3,097
	208,913		Investor AB (B Shares)		9,627
	275,619		IOOF Holdings Ltd		1,621
	351,585		iShares MSCI Canada Index Fund		10,119
	1,800,979		iShares MSCI EAFE Index Fund		122,449
	993,500		iShares MSCI Emerging Markets		42,641
	206,609		iShares Russell 1000 Value Index Fund		26,161
	50,000	e	iShares Russell Midcap Growth Index Fund		6,779
	41,000	e	J Trust Co Ltd		249
	19,900		Jaccs Co Ltd		421
	109,017		Jafco Co Ltd		4,238
	23,500	e	Japan Investment Adviser Co Ltd		883
	1,853,600		Japan Securities Finance Co Ltd		11,109
	697,526		Jefferies Financial Group, Inc		15,318
	918,193		Jih Sun Financial Holdings Co Ltd		295
	130,886		JM Financial Ltd		156
	196,161		JSE Ltd		2,208
	228,099		Julius Baer Group Ltd		11,399
	102,668		Julius Baer Holding AG.		730
	8,500	e	Jupai Holdings Ltd (ADR)		73
	1,401,411		Jupiter Investment Management Group Ltd		7,382
	296,500		kabu.com Securities Co Ltd		1,002
	49,817		KBC Ancora		2,531
	8,936	e	KIWOOM Securities Co Ltd		785
	206,934		KKR Real Estate Finance Trust, Inc		4,174
	45,143		Korea Investment Holdings Co Ltd		3,096
	11,648		KRUK S.A.		634
	11,979		Kyobo Securities Co		105
	14,000	e	Kyokuto Securities Co Ltd		178
	995,547		Ladder Capital Corp		16,865
	461,148		Ladenburg Thalmann Financial Services, Inc		1,245
	812,927		Lazard Ltd (Class A)		39,126
	50,121		Legg Mason, Inc		1,565
	426,503	*	LendingClub Corp		1,655
	708,324		London Stock Exchange Group plc		42,327
	398,566		LPL Financial Holdings, Inc		25,711
	75,780		Lundbergs AB (B Shares)		2,554
	4,300	*,e	M&A Capital Partners Co Ltd		260
	375,594		Macquarie Group Ltd		34,167
	475,267		Magellan Financial Group Ltd		9,502
	180,492		Magma Fincorp Ltd		286
	338,376	*	Mahindra & Mahindra Financial Services Ltd		1,870
	12,367,151		Man Group plc		28,370
	1,047,259		Manappuram General Finance & Leasing Ltd		1,047
	61,944		MarketAxess Holdings, Inc		11,056
	10,809		Marlin Business Services Corp		312
	34,100	*,e	Marusan Securities Co Ltd		290
	225,900		Matsui Securities Co Ltd		2,374
	83,289		Meritz finance Holdings Co Ltd		942
	214,052		Meritz Securities Co Ltd		801
	13,920,906		Metro Pacific Investments Corp		1,223

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,092,657		MFA Mortgage Investments, Inc	$	8,031
	484,307		Mitsubishi UFJ Lease & Finance Co Ltd		2,850
	37,677		MLP AG.		240
	91,549		Moelis & Co		5,017
	24,847		Moelis Australia Ltd		98
	728,000	e	Monex Beans Holdings, Inc		3,499
	324,237		Moody’s Corp		54,212
	4,486,654		Morgan Stanley		208,943
	54,152		Morningstar, Inc		6,818
	46,933		Motilal Oswal Financial Services Ltd		436
	144,245		MSCI, Inc (Class A)		25,591
	417,800		Muangthai Capital PCL		624
	712,891		Multi Commodity Exchange of India Ltd		6,769
	142,254		Muthoot Finance Ltd		792
	211,630		NASDAQ OMX Group, Inc		18,158
	969,874		Natixis		6,586
	480,752		Navient Corp		6,481
	5,500		NEC Capital Solutions Ltd		93
	25,197		Nelnet, Inc (Class A)		1,441
	26,881	e,g	Netmarble Corp		2,786
	53,233	e	Netwealth Group Ltd		304
	706,221		New Residential Investment Corp		12,585
	187,566		New York Mortgage Trust, Inc		1,140
	56,823	*,m	NewStar Financial, Inc		15
	261,062		NEX Group plc		3,375
	10,434		NICE Holdings Co Ltd		190
	31,600	*,e	Noah Holdings Ltd (ADR)		1,332
	1,006,910		Nomura Holdings, Inc		4,802
	154,234		Northern Trust Corp		15,752
	282,038		Numis Corp plc		1,231
	3,417,866		NZX Ltd		2,492
	96,000		Okasan Holdings, Inc		494
	1,235,815		OM Asset Management plc		15,324
	661,973	*	On Deck Capital, Inc		5,011
	379,475	*	OneMain Holdings, Inc		12,754
	168,934		Onex Corp		11,553
	500,000	e	OP Financial Investments Ltd		175
	12,159		Oppenheimer Holdings, Inc		384
	72,995	e	Orchid Island Capital, Inc		529
	320,400	e	Orient Corp		471
	600,000	e,g	Orient Securities Co Ltd		385
	3,592,543		ORIX Corp		58,169
	384,912		Osaka Securities Exchange Co Ltd		6,705
	641,851		OzForex Group Ltd		1,058
	48,470		P2P Global Investments plc		493
	19,101		Pargesa Holding S.A.		1,535
	24,741		Partners Group		19,613
	78,330		PennyMac Mortgage Investment Trust		1,585
	858,653		Peregrine Holdings Ltd		1,321
	517,000	*,†,m	Peregrine Investment Holdings		0
	62,134		Perpetual Trustees Australia Ltd		1,912
	28,592		Pico Holdings, Inc		359
	292,582		Pinnacle Investment Management Group Ltd		1,676
	224,790	*	Pioneers Holding		76

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,160		Piper Jaffray Cos	$	1,463
	26,887		PJT Partners, Inc		1,408
	239,347	e	Platinum Asset Mangement Ltd		926
	929,194	e	Plus500 Ltd		16,076
	1,531,761		Power Finance Corp Ltd		1,609
	58,670	*,e	PRA Group, Inc		2,112
	489,082		President Securities Corp		231
	164,811		Provident Financial plc		1,297
	128,606		PSG Group Ltd		2,083
	6,820,800	*	PT Kresna Graha Investama Tbk		320
	121,782		Pzena Investment Management, Inc (Class A)		1,162
	7,734,173	g	Quilter plc		13,437
	733,975		Ratchthani Leasing PCL		214
	51,550		Rathbone Brothers		1,613
	140,635		Ratos AB (B Shares)		513
	227,523		Raymond James Financial, Inc		20,943
	26,521	*	Ready Capital Corp		442
	110,219		Redwood Trust, Inc		1,790
	75,719	*	Regional Management Corp		2,183
	196,574		Reinet Investments S.C.A		3,657
	699,540		Reliance Capital Ltd		2,725
	539,279	e	Remgro Ltd		7,516
	40,716		Repco Home Finance Ltd		242
	1,569,700	g	Resurs Holding AB		11,741
	10,800		Ricoh Leasing Co Ltd		356
	1,252,908		RMB Holdings Ltd		7,005
	1,731,179		Rural Electrification Corp Ltd		2,341
	636,361		S&P Global, Inc		124,339
	29,559	*	Safeguard Scientifics, Inc		276
	83,351		Samsung Card Co		2,765
	71,298		Samsung Securities Co Ltd		2,100
	89,009		Sanne Group plc		742
	508,224		Santander Consumer USA Holdings, Inc		10,185
	244,200	e	Sawada Holdings Co Ltd		2,367
	970,014		SBI Holdings, Inc		30,109
	22,953		Schroders plc		925
	361,749		SEI Investments Co		22,103
	5	*,†,m	SFCG Co Ltd		0
	94,000	*,e	Sheng Ye Capital Ltd		84
	2,688		Shinyoung Securities Co Ltd		141
	211,458		Shriram Transport Finance Co Ltd		3,358
	10,735	*,e	Siebert Financial Corp		157
	9,962		Silvercrest Asset Management Group, Inc		138
	1,584,130		Singapore Exchange Ltd		8,538
	152,478	*	SK Securities Co Ltd		144
	7,490,000	e	Skyway Securities Group Ltd		373
	799,625	*	SLM Corp		8,916
	768,475	*,†,e,m	SNS Reaal		9
	23,962,257		Sociedad de Inversiones Oro Blanco S.A.		173
	5,465		Societe Fonciere Financiere et de Participations FFP		741
	15,747		Sofina S.A.		3,140
	452,248		Sparx Group Co Ltd		1,180
	12,500		SPDR Trust Series 1		3,634

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	361,442	e	Sprott, Inc	$	842
	717,110		SREI Infrastructure Finance Ltd		321
	350,950		Srisawad Corp PCL		525
	463,717		St. James’s Place plc		6,912
	2,568,663		Standard Life plc		10,235
	1,937,846		State Street Corp		162,353
	225,522		Stifel Financial Corp		11,560
	4,800	e	Strike Co Ltd		162
	5,109,000		Sun Hung Kai & Co Ltd		2,612
	33,189		Sundaram Finance Ltd		694
	72,844		Swissquote Group Holding S.A.		5,296
	1,483,243		Synchrony Financial		46,099
	166,531		T Rowe Price Group, Inc		18,182
	2,781,366	e	Tai Fook Securities Group Ltd		972
	671,000		Taiwan Acceptance Corp		2,242
	68,164		Tamburi Investment Partners S.p.A.		512
	8,197		Tata Investment Corp Ltd		82
	192,160		TD Ameritrade Holding Corp		10,152
	396,389		Thomson Corp (Toronto)		18,088
	95,255		TI Financial Holdings Ltd		725
	77,334		TMX Group Ltd		5,190
	327,180		Tokai Tokyo Securities Co Ltd		1,882
	77,026	*	Tong Yang Investment Bank		263
	43,747		TPG RE Finance Trust, Inc		876
	378,005		Tullett Prebon plc		1,312
	456,194		Two Harbors Investment Corp		6,811
	2,885,738		UBS AG.		45,562
	637,700	e	Unifin Financiera SAPI de C.V. SOFOM ENR		1,607
	1,143,432		UOB-Kay Hian Holdings Ltd		1,055
	209,519	*	Uranium Participation Corp		749
	7,900	*	Uzabase, Inc		227
	1,797		Value Line, Inc		45
	771,000		Value Partners Group Ltd		613
	18,551		Verusa Holding AS.		82
	109,869	e	Virtu Financial, Inc		2,247
	9,674		Virtus Investment Partners, Inc		1,100
	13,676		Volati AB		60
	52,891		Vontobel Holding AG.		3,737
	3,161,649		Voya Financial, Inc		157,039
	1,893		VZ Holding AG.		563
	104,877	e	Waddell & Reed Financial, Inc (Class A)		2,221
	113,130		Warsaw Stock Exchange		1,364
	1,265,637		Waterland Financial Holdings		443
	26,360		Wendel		3,928
	54,362		Western Asset Mortgage Capital Corp		545
	13,175		Westwood Holdings Group, Inc		682
	157,970		WisdomTree Investments, Inc		1,340
	758,106		Woori Investment & Securities Co Ltd		9,767
	8,110	*	World Acceptance Corp		927
	13,700	e	Yintech Investment Holdings Ltd (ADR)		69
	689,974		Zeder Investments Ltd		223
	143,900	e	Zenkoku Hosho Co Ltd		5,750
			TOTAL DIVERSIFIED FINANCIALS		4,555,452

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
ENERGY - 6.3%
	226,986	*	Abraxas Petroleum Corp	$	529
	2,419		Adams Resources & Energy, Inc		103
	17,227,804		Adaro Energy Tbk		2,120
	110,231	*,e	Advantage Oil & Gas Ltd		307
	54,892		Aegis Logistics Ltd		150
	14,630,000	e	Agritrade Resources Ltd		3,215
	82,624	*	Akastor ASA		179
	314,770		Aker BP ASA		13,328
	111,406	*	Aker Solutions ASA		792
	138,837	*,e	Alta Mesa Resources, Inc		580
	143,484	e	AltaGas Income Trust		2,283
	34,755	*,e	Amyris, Inc		276
	982,695		Anadarko Petroleum Corp		66,243
	147,470		Andeavor		22,637
	127,561	*	Antero Resources Corp		2,259
	1,202,000	*,e	Anton Oilfield Services Group		200
	100,000	e	AOC Holdings, Inc		424
	528,698		Apache Corp		25,203
	457,479	*	Apergy Corp		19,928
	278,231	*,e	Approach Resources, Inc		620
	117,105		ARC Resources Ltd		1,306
	94,931		Arch Coal, Inc		8,487
	721,357		Archrock, Inc		8,801
	47,186	*	Ardmore Shipping Corp		307
	286,346	*,e	Athabasca Oil Corp		352
	1,061,316		Baker Hughes a GE Co		35,904
	229,600		Bangchak Corp PCL		250
	2,262,010		Banpu PCL (Foreign)		1,336
	57,855	*	Basic Energy Services, Inc		578
	349,858	*	Baytex Energy Trust		1,016
	5,149,489		Beach Petroleum Ltd		7,972
	48,033		Berry Petroleum Co LLC		846
	1,286,265		Bharat Petroleum Corp Ltd		6,638
	159,768		Birchcliff Energy Ltd		643
	141,837	*	Bonanza Creek Energy, Inc		4,224
	181,597	e	Bonavista Energy Trust		209
	32,843	e	Bonterra Oil & Gas Ltd		488
	259,749	*	Borr Drilling Ltd		1,192
	16,142	e	Bourbon S.A.		103
	16,494,353		BP plc		126,425
	641,985		BP plc (ADR)		29,595
	4,650,000	*,†,e,m	Brightoil Petroleum Holdings Ltd		891
	45,828	*,e	Bristow Group, Inc		556
	1,734,100	*	Bumi Armada BHD		222
	50,594	*,e,g	BW LPG Ltd		222
	208,092	*	BW Offshore Ltd		1,650
	86,758	*	C&J Energy Services, Inc		1,805
	307,757		Cabot Oil & Gas Corp		6,931
	228,914	*	Cactus, Inc		8,763
	383,166	*	Cairn Energy plc		1,158
	43,571	*,e	Calfrac Well Services Ltd		146
	101,958	*,e	California Resources Corp		4,948

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	304,607	*	Callon Petroleum Co	$	3,652
	276,393		Caltex Australia Ltd		5,971
	130,365		Cameco Corp (Toronto)		1,487
	811,770	*,e	Canacol Energy Ltd		2,533
	2,022,776		Canadian Natural Resources Ltd (Canada)		66,087
	30,058	*,e	CARBO Ceramics, Inc		218
	74,122	e	Cardinal Energy Ltd		306
	230,491	*	Carrizo Oil & Gas, Inc		5,808
	1,812,074		Cenovus Energy, Inc		18,175
	1,629,406		Cenovus Energy, Inc (Toronto)		16,362
	314,578	*,e	Centennial Resource Development, Inc		6,874
	161,624	e	CES Energy Solutions Corp		533
	890,486	*	CGG S.A.		2,486
	406,824	*	Cheniere Energy, Inc		28,270
	161,425		Chennai Petroleum Corp Ltd		620
	321,374	*,e	Chesapeake Energy Corp		1,443
	5,359,261		Chevron Corp		655,330
	160,400	e	China Aviation Oil Singapore Corp Ltd		179
	3,079,000		China Coal Energy Co		1,297
	2,359,826		China Oilfield Services Ltd		2,565
	163,300		China Shenhua Energy Co Ltd		484
	11,637,795		China Shenhua Energy Co Ltd (Hong Kong)		26,505
	7,036,000		China Suntien Green Energy Cor		1,955
	212,911		Cimarex Energy Co		19,788
	1,806,545	*	Clean Energy Fuels Corp		4,697
	290,062	*	Cloud Peak Energy, Inc		667
	30,684,246		CNOOC Ltd		60,759
	370,439	*	CNX Resources Corp		5,301
	1,191,949		Coal India Ltd		4,379
	118	*,†,b,m	Cobalt International Energy, Inc		0	^
	135,177	e	Computer Modelling Group Ltd		884
	2,681,983	*	Concho Resources, Inc		409,673
	1,121,732		ConocoPhillips		86,822
	322,897	*	CONSOL Energy, Inc		13,177
	1,334,085	*	Continental Resources, Inc		91,091
	125	e	Core Laboratories NV		14
	194,128		Cosan SA Industria e Comercio		1,558
	371,800		Cosmo Energy Holdings Co Ltd		15,309
	39,452	*,e	Covia Holdings Corp		354
	719,626	e	Crescent Point Energy Corp		4,580
	106,635	*	Crew Energy, Inc		155
	22,350	e	CVR Energy, Inc		899
	30,629	*	Dawson Geophysical Co		190
	2,650		Delek Group Ltd		447
	844,152		Delek US Holdings, Inc		35,817
	854,601	*	Denbury Resources, Inc		5,299
	1,552,479		Devon Energy Corp		62,006
	134,838		DHT Holdings, Inc		634
	4,300,051		Dialog Group BHD		3,626
	87,654	*,e	Diamond Offshore Drilling, Inc		1,753
	1,323,873	e	Diamondback Energy, Inc		178,974
	4,510,385		DNO International ASA		9,301
	775,100	*	Dommo Energia S.A.		273
	40,259	*	Dorian LPG Ltd		321

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,337	*	Dril-Quip, Inc	$	2,630
	15,654		E1 Corp		906
	80,260	*	Earthstone Energy, Inc		753
	106,583	*,e	Eclipse Resources Corp		127
	5,158,454		Ecopetrol S.A.		7,017
	391,209		Empresas COPEC S.A.		6,044
	268,318		Enagas		7,232
	90,798	e	Enbridge Income Fund		2,205
	1,478,874		Enbridge, Inc (Toronto)		47,721
	1,198,714		EnCana Corp		15,712
	56,132		Enerflex Ltd		718
	376,853	*	Energen Corp		32,473
	1,161,414		Energy Absolute PCL (Foreign)		1,731
	1,168,600	†,m	Energy Earth PCL		40
	89,231	*,e	Energy Fuels, Inc		293
	1,053,134	*,e	Energy Resources of Australia Ltd		289
	181,931	*	Energy XXI Gulf Coast, Inc		1,521
	768,367	e	Enerplus Resources Fund		9,488
	3,961,706	e	ENI S.p.A.		74,676
	1,624,655	*	Enquest plc (London)		869
	742	e	Ensco plc		6
	96,144		Ensign Energy Services, Inc		464
	4,099,020		EOG Resources, Inc		522,912
	55,565	*,e	EP Energy Corp		130
	165,116		EQT Corp		7,303
	143,222	*	Era Group, Inc		1,769
	323,400		Esso Malaysia BHD		645
	4,294		Esso SA Francaise		214
	9,483,200		Esso Thailand PCL (Foreign)		4,576
	186,795	*	Etablissements Maurel et Prom		1,191
	97,570		Euronav NV		843
	185,787		Evolution Petroleum Corp		2,053
	16,942	*	Exmar NV		105
	454,994	*	Exterran Corp		12,071
	193,909	*,e	Extraction Oil & Gas, Inc		2,189
	773,029	e	Exxaro Resources Ltd		7,947
	8,031,404		Exxon Mobil Corp		682,830
	205,565	*	Faroe Petroleum plc		446
	131,713	*,e	FLEX LNG Ltd		240
	3,508,814		Formosa Petrochemical Corp		17,008
	108,718	*	Forum Energy Technologies, Inc		1,125
	99,580	e	Frank’s International NV		864
	61,552	e	Freehold Royalty Trust		531
	110,869	e	Frontline Ltd		644
	50,222	e	Frontline Ltd (Sigmax MTF)		293
	198,201	*	FTS International, Inc		2,337
	53,931	*,e	Fugro NV		710
	766,225		Galp Energia SGPS S.A.		15,193
	53,057	e	GasLog Ltd		1,048
	1,024,203		Gazprom (ADR)		5,090
	5,301,627		Gazprom OAO (ADR)		26,455
	6,071		Gazpromneft OAO (ADR)		173
	62,015	e	Gaztransport Et Technigaz S.A.		4,702

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	126,912	e	Gibson Energy, Inc	$	2,006
	125,302		Golar LNG Ltd		3,483
	8,800	*	Goodrich Petroleum Corp		124
	83,098		Great Eastern Shipping Co Ltd		330
	53,659		Green Plains Renewable Energy, Inc		923
	107,956		Grupa Lotos S.A.		2,196
	61,606		GS Holdings Corp		3,061
	59,724		Gujarat Mineral Development Corp Ltd		77
	59,958		Gulf International Services OSC		304
	144,919	*	Gulf Keystone Petroleum Ltd		545
	5,388	*,e	Gulfmark Offshore, Inc		201
	449,467	*	Gulfport Energy Corp		4,679
	174,447	*,e	Halcon Resources Corp		780
	23,931		Hallador Energy Co		149
	1,969,308		Halliburton Co		79,816
	471		Hankook Shell Oil Co Ltd		145
	792,407	*	Helix Energy Solutions Group, Inc		7,829
	211,069		Helmerich & Payne, Inc		14,515
	223,917		Hess Corp		16,028
	843,975	*	HighPoint Resources Corp		4,119
	714,161		Hindustan Petroleum Corp Ltd		2,477
	32,204	e	Hoegh LNG Holdings Ltd		179
	202,868		HollyFrontier Corp		14,180
	1,697,000	*	Honghua Group Ltd		143
	88,723	*	Hunting plc		899
	929,699	*,e	Hurricane Energy plc		709
	1,057,019		Husky Energy, Inc		18,560
	191,650		Idemitsu Kosan Co Ltd		10,147
	287,259		Imperial Oil Ltd		9,296
	253,791	*	Independence Contract Drilling, Inc		1,254
	1,640,589		Indian Oil Corp Ltd		3,470
	1,529,300		Inner Mongolia Yitai Coal Co		1,836
	1,170,042		Inpex Holdings, Inc		14,619
	863,380	e	Inter Pipeline Ltd		14,973
	235	*	International Petroleum Corp		2
	31,072	*	International Seaways, Inc		622
	14,222	*	ION Geophysical Corp		221
	90,098	*	Ipek Matbacilik Sanayi Ve Ticaret AS		78
	11,780,707		IRPC PCL (Foreign)		2,478
	1,498	*,e	Isramco, Inc		183
	224,153		Itochu Enex Co Ltd		2,267
	86,223	*,e	Jagged Peak Energy, Inc		1,192
	5,900	*,†,b,m	Japan Drilling Co Ltd		0	^
	26,100		Japan Petroleum Exploration Co		600
	16,121	*	Jerusalem Oil Exploration		991
	90,892		John Wood Group plc		912
	392,000	e	Jutal Offshore Oil Services Ltd		62
	6,718,610		JX Holdings, Inc		50,818
	124,744	*,e	Karoon Gas Australia Ltd		100
	501,598	*,e	Keane Group, Inc		6,205
	98,436	*	Kelt Exploration Ltd		641
	55,750	*,e	Key Energy Services, Inc		638
	460,032		Keyera Corp		12,327
	65,524	g	Kinder Morgan Canada Ltd		864

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,623,302		Kinder Morgan, Inc	$	28,781
	26,986	*	KLX Energy Services Holdings, Inc		864
	59,956		Koninklijke Vopak NV		2,954
	828,646	*	Kosmos Energy LLC		7,748
	100,049	*	Kvaerner ASA		185
	572,933	*	Laredo Petroleum Holdings, Inc		4,681
	185,362	e	Liberty Oilfield Services, Inc		3,998
	350,075	*,e	Lilis Energy, Inc		1,715
	25,538		Lubelski Wegiel Bogdanka S.A.		416
	576,264		LUKOIL PJSC (ADR)		44,126
	73,277		LUKOIL PJSC (ADR)		5,601
	161,486		Lundin Petroleum AB		6,155
	133,746	e	Mammoth Energy Services, Inc		3,892
	1,496,900		Marathon Oil Corp		34,848
	836,381		Marathon Petroleum Corp		66,885
	2,457,937	*,e	Matador Resources Co		81,235
	96,636	*	Matrix Service Co		2,382
	387,142	*	McDermott International, Inc		7,135
	4,336,083	*	MEG Energy Corp		26,957
	89,578	*	Midstates Petroleum Co, Inc		798
	202,200		Modec, Inc		6,615
	1,069,193		MOL Hungarian Oil & Gas plc		11,516
	64,707		Motor Oil Hellas Corinth Refineries S.A.		1,690
	62,451	e	Mullen Group Ltd		742
	219,577		Murphy Oil Corp		7,321
	1,664,186		Nabors Industries Ltd		10,251
	47,861		Naphtha Israel Petroleum Corp Ltd		328
	883,204		National Oilwell Varco, Inc		38,048
	18,935	*	Natural Gas Services Group, Inc		400
	11,809	*,e	NCS Multistage Holdings, Inc		195
	151,298		Neste Oil Oyj		12,471
	121,345		New Zealand Refining Co Ltd		207
	253,064	*	Newfield Exploration Co		7,296
	22,798,000	*,e	Newocean Energy Holdings Ltd		7,064
	282,337	*	Newpark Resources, Inc		2,922
	201,792	*,e	NexGen Energy Ltd		409
	11,728	*,e	NextDecade Corp		66
	99,163	*	Nine Energy Service, Inc		3,032
	330,681	*	Noble Corp plc		2,325
	314,765		Noble Energy, Inc		9,818
	176,035	e	Nordic American Tanker Shipping		368
	45,441	*	Northern Drilling Ltd		424
	260,735	*,e	Northern Oil And Gas, Inc		1,043
	70,571	*	Nostrum Oil & Gas plc		223
	118,135		NovaTek OAO (GDR)		21,667
	15,153		Novatek PJSC (GDR)		2,788
	316,128	*	NuVista Energy Ltd		1,836
	361,663	*	Oasis Petroleum, Inc		5,128
	256,602	*,e	Obsidian Energy Ltd		240
	3,031,140		Occidental Petroleum Corp		249,069
	73,879	*,e	Ocean Rig UDW, Inc		2,558
	36,246		Ocean Yield ASA		297
	272,459	*,e	Oceaneering International, Inc		7,520

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	65,846	*	Odfjell Drilling Ltd	$	291
	493,600		Offshore Oil Engineering Co Ltd		486
	2,483,800		Oil & Gas Development Co Ltd		3,061
	6,468,533		Oil Refineries Ltd		3,211
	1,293,687		Oil Search Ltd		8,450
	80,727	*	Oil States International, Inc		2,680
	207,394		OMV AG.		11,635
	459,342		Oneok, Inc		31,139
	461,700	*	Ophir Energy plc		228
	1,471,529	*	Origin Energy Ltd		8,771
	67,465	*	Overseas Shipholding Group, Inc		213
	99,285	*,e	Painted Pony Energy Ltd		252
	88,680		Pakistan Oilfields Ltd		392
	141,817		Pakistan State Oil Co Ltd		364
	23,573		Panhandle Oil and Gas, Inc (Class A)		435
	442,489	*	Par Pacific Holdings, Inc		9,027
	38,867	*,e	Paramount Resources Ltd (Class A)		455
	855,328	*	Parex Resources, Inc		14,535
	244,370		Parkland Fuel Corp		8,213
	8,734,114	*	Parsley Energy, Inc		255,473
	190,094		Pason Systems, Inc		2,883
	255,398		Patterson-UTI Energy, Inc		4,370
	6,445		Paz Oil Co Ltd		1,008
	178,483		PBF Energy, Inc		8,908
	104,594	*	PDC Energy, Inc		5,121
	362,195		Peabody Energy Corp		12,909
	332,658		Pembina Pipeline Income Fund		11,304
	496,500	*,e	Pengrowth Energy Trust		431
	16,700	*	Penn Virginia Corp		1,345
	200,158		Petrofac Ltd		1,683
	4,870,905		Petroleo Brasileiro S.A.		29,224
	6,701,219		Petroleo Brasileiro S.A. (Preference)		34,995
	2,083,729	*,e	Petroleum Geo-Services ASA		9,350
	1,213,800		Petron		195
	748,159		Petronas Dagangan BHD		4,748
	688,602		Petronet LNG Ltd		2,136
	105,010	e	Peyto Exploration & Development Corp		905
	11,203	*	PHI, Inc		105
	653,649		Phillips 66		73,679
	457,853	*	Pioneer Energy Services Corp		1,351
	512,772		Pioneer Natural Resources Co		89,320
	3,169,820		Plains All American Pipeline LP		79,277
	1,131,385		Plains GP Holdings LP		27,753
	4,436,281	*	Polish Oil & Gas Co		7,787
	439,976		Polski Koncern Naftowy Orlen S.A.		12,060
	100,100	*,†,m	Poseidon Concepts Corp		1
	130,085	e	PrairieSky Royalty Ltd		2,285
	185,686	*	Precision Drilling Trust		641
	709,958	*	Premier Oil plc		1,273
	542,300		Prima Marine PCL		143
	36,280	*,e	Profire Energy, Inc		116
	95,460	*,e	ProPetro Holding Corp		1,574
	15,628,900	*	PT Bumi Resources Tbk		226
	2,820,000	*	PT Delta Dunia Petroindo Tbk		142

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,898,600		PT Harum Energy Indonesia Tbk	$	628
	1,027,900		PT Indika Energy Tbk		193
	2,227,400		PT Indo Tambangraya Megah		3,864
	4,670,566	*	PT Medco Energi Internasional Tbk		313
	5,511,506		PT United Tractors Tbk		12,203
	1,581,621		PTT Exploration & Production PCL (Foreign)		7,591
	9,443,450		PTT PCL (Foreign)		15,944
	185,501		Qatar Gas Transport Co Ltd		876
	39,000		QGEP Participacoes S.A.		128
	476,676	*	Questar Market Resources, Inc		5,396
	40,855	*,e	Quintana Energy Services, Inc		300
	390,692		Range Resources Corp		6,638
	5,709,803		Reliance Industries Ltd		99,117
	229,089	*,e	Renewable Energy Group, Inc		6,598
	1,525,469		Repsol YPF S.A.		30,368
	30,571	*,e	Resolute Energy Corp		1,156
	8,120	*	Rex American Resources Corp		613
	29,523	*	RigNet, Inc		601
	78,103	*	Ring Energy, Inc		774
	3,605	*,e	Rosehill Resources, Inc		22
	978,795		Rosneft Oil Co (GDR)		7,313
	156,257	*	Rosneft Oil Co PJSC (GDR)		1,173
	733,997	*	Rowan Cos plc		13,821
	8,844,097		Royal Dutch Shell plc (A Shares)		303,250
	5,706,730		Royal Dutch Shell plc (B Shares)		199,773
	122,436	e	RPC, Inc		1,895
	398,802	*	Saipem S.p.A		2,450
	55,600		San-Ai Oil Co Ltd		682
	106,884	*,e	Sanchez Energy Corp		246
	201,310	*	SandRidge Energy, Inc		2,188
	2,588,028		Santos Ltd		13,588
	2,348,700		Sapurakencana Petroleum BHD		233
	753,615		Saras S.p.A.		1,611
	850,815		Sasol Ltd		32,872
	113,756		SBM Offshore NV		2,053
	4,123,382		Schlumberger Ltd		251,196
	19,602		Schoeller-Bleckmann Oilfield Equipment AG.		2,143
	397,546	e	Scorpio Tankers, Inc		799
	70,380	*	SEACOR Holdings, Inc		3,477
	20,629	*	SEACOR Marine Holdings, Inc		467
	3	*	Seadrill Ltd		0	^
	104,309	e	Secure Energy Services, Inc		683
	63,660	*	Select Energy Services, Inc		754
	106,988	e	SemGroup Corp		2,359
	402,800		Serba Dinamik Holdings BHD		371
	50	*,†,m	Serval Integrated Energy Services		0
	208,169	*	Seven Generations Energy Ltd		2,482
	390,555		Shaanxi Coal Industry Co Ltd		494
	333,536		Shanxi Lu’an Environmental Energy Development Co Ltd		390
	411,700		Shanxi Xishan Coal & Electricity Power Co Ltd		398
	44,445		ShawCor Ltd		850
	53,700		Shell Refining Co Federation Of Malaya BHD		83

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	96,200		Shinko Plantech Co Ltd	$	1,001
	111,549	e	Ship Finance International Ltd		1,551
	494,540		Showa Shell Sekiyu KK		10,491
	486,200		Siamgas & Petrochemicals PCL		186
	9,233	*	SilverBow Resources, Inc		246
	23,200		Sinanen Co Ltd		595
	802,000		Sinopec Kantons Holdings Ltd		358
	69,162		SK Energy Co Ltd		13,406
	7,808		SK Gas Co Ltd		592
	236,934		SM Energy Co		7,471
	31,463	*,e	Smart Sand, Inc		129
	2,716,427		Snam Rete Gas S.p.A.		11,296
	127,225		Soco International plc		143
	50,851		S-Oil Corp		6,281
	36,671	*,e	Solaris Oilfield Infrastructure, Inc		693
	464,393	*,e	Sound Energy plc		207
	787,691	*	Southwestern Energy Co		4,025
	327,252	*	SRC Energy, Inc		2,909
	1,046,635		Statoil ASA		29,427
	522,321		Stobart Group Ltd		1,692
	171,178		Subsea 7 S.A.		2,525
	3,426,164		Suncor Energy, Inc		132,574
	616,376	*	Superior Energy Services		6,003
	190,045		Surge Energy, Inc		390
	1,074,719		Surgutneftegaz (ADR)		4,437
	544,205		Surgutneftegaz (ADR) (London)		2,258
	66,248	*	Talos Energy, Inc		2,174
	644,191	*	Tamarack Valley Energy Ltd		2,509
	381,923		Targa Resources Investments, Inc		21,506
	338,434		Tatneft PAO (ADR)		25,822
	39,854		Tatneft PJSC (ADR)		3,041
	1,308		TechnipFMC plc		41
	600,810		TechnipFMC plc (Euro OTC)		18,775
	21,235		Tecnicas Reunidas S.A.		652
	91,645	e	Teekay Corp		618
	224,237	e	Teekay Tankers Ltd (Class A)		221
	108,230	*,e	Tellurian, Inc		971
	79,643		Tenaris S.A.		1,334
	164,947	*	Tetra Technologies, Inc		744
	242,232		TGS Nopec Geophysical Co ASA		9,861
	1,304,455		Thai Oil PCL (Foreign)		3,572
	40,745	*,e	Tidewater, Inc		1,271
	112,712	e	TORC Oil & Gas Ltd		577
	14,647		TORM plc		88
	53,200	e	Total Energy Services, Inc		447
	2,951,248		Total S.A.		191,892
	89,501		Tourmaline Oil Corp		1,576
	18,300		Toyo Kanetsu K K		461
	1,439,718	e	TransCanada Corp		58,251
	1,124	*	Transocean Ltd		16
	3,927,329	*,e	Transocean Ltd (NYSE)		54,786
	200,447	*,e	Trican Well Service Ltd		358
	160,841	*,e	Trinidad Drilling Ltd		230
	1,450,967	*	Tullow Oil plc		4,949

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	135,988		Tupras Turkiye Petrol Rafine	$	3,019
	365,494		Ultrapar Participacoes S.A.		3,378
	1,921,462	*	UMW Oil & Gas Corp BHD		130
	206,174	*	Unit Corp		5,373
	198,921	*	Uranium Energy Corp		342
	105,374	e	US Silica Holdings Inc		1,984
	1,298,143		Valero Energy Corp		147,664
	209,642	*	Vallourec SA		1,232
	15,582		Verbio AG.		106
	82,016	e	Vermilion Energy, Inc		2,702
	1,055,950	*	W&T Offshore, Inc		10,179
	290,869		Washington H Soul Pattinson & Co Ltd		5,457
	4,498,368	*,e	Weatherford International Ltd		12,191
	271,531		Whitecap Resources, Inc		1,648
	4,430,384		Whitehaven Coal Ltd		17,394
	171,951	*	Whiting Petroleum Corp		9,120
	247,411	*,e	WildHorse Resource Development Corp		5,849
	5,138,735		Williams Cos, Inc		139,722
	752,000	e	Wison Engineering Services Co Ltd		100
	1,339,682		Woodside Petroleum Ltd		37,373
	176,368		World Fuel Services Corp		4,882
	154,797		WorleyParsons Ltd		2,286
	2,800,702	*	WPX Energy, Inc		56,350
	4,217,066		Yanzhou Coal Mining Co Ltd		4,876
	394,700		Yinson Holdings BHD		439
	1,624,000	*,e	Yuan Heng Gas Holdings Ltd		166
	228,179		Z Energy Ltd		1,081
	52,604	*,e	Zion Oil & Gas, Inc		67
			TOTAL ENERGY		7,846,981
FOOD & STAPLES RETAILING - 1.0%
	711,666		7-Eleven Malaysia Holdings BHD		253
	497,834	e	Aeon Co Ltd		11,995
	17,300		Ain Pharmaciez Inc		1,396
	2,735		Al Meera Consumer Goods Co		114
	699,932		Alimentation Couche Tard, Inc		35,012
	642,058		Almacenes Exito S.A.		3,160
	35,323		Andersons, Inc		1,330
	154,344		Arcs Co Ltd		4,185
	423,800		Atacadao Distribuicao Comercio e Industria Ltd		1,554
	284,457	*,g	Avenue Supermarts Ltd		5,482
	68,182		Axfood AB		1,276
	38,300		Axial Retailing, Inc		1,369
	22,100		Belc Co Ltd		1,197
	1,140,400		Berli Jucker PCL		2,098
	7,361		BGF retail Co Ltd		1,364
	363,784	e	Bid Corp Ltd		7,583
	207,446		BIM Birlesik Magazalar AS		2,792
	890,385		Carrefour S.A.		17,066
	38,185	e	Casey’s General Stores, Inc		4,930
	10,974	e	Casino Guichard Perrachon S.A.		462
	62,100		Cawachi Ltd		1,262
	2,365,656		Centros Comerciales Sudamericanos S.A.		5,624

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	49,247	*	Chefs’ Warehouse Holdings, Inc	$	1,790
	866,761		Cia Brasileira de Distribuicao Grupo Pao de Acucar		18,782
	3,096		CJ Freshway Corp		87
	375,253		Clicks Group Ltd		4,638
	11,560		Cocokara Fine Holdings, Inc		742
	16,105	e	Colruyt S.A.		911
	5,395,500		Cosco Capital, Inc		579
	11,800		Cosmos Pharmaceutical Corp		2,655
	5,545,429		CP Seven Eleven PCL (Foreign)		11,834
	40,600		Create SD Holdings Co Ltd		1,057
	3,100		Daikokutenbussaan Co Ltd		122
	236,800		Dairy Farm International Holdings Ltd		2,131
	58,931	*,g	Dino Polska S.A.		1,591
	236,320	e,g	Dis-Chem Pharmacies Ltd		532
	344,343	e	Distribuidora Internacional de Alimentacion S.A.		798
	46,654		Dongsuh Co, Inc		884
	53,516		E-Mart Co Ltd		10,013
	290,851		Empire Co Ltd		5,301
	50,691		Eurocash S.A.		248
	56,508	e	FamilyMart Co Ltd		5,888
	7,400	e	Genky DrugStores Co Ltd		285
	44,014		George Weston Ltd		3,332
	38,300		Growell Holdings Co Ltd		2,171
	217,500		Grupo Comercial Chedraui S.a. DE C.V.		486
	33,558		GS Retail Co Ltd		1,165
	14,800		Halows Co Ltd		356
	138,200		Heiwado Co Ltd		3,711
	28,425		Hyundai Greenfood Co Ltd		360
	154,025	e	ICA Gruppen AB		4,885
	20,092		Ingles Markets, Inc (Class A)		688
	8,700		Itochu-Shokuhin Co Ltd		457
	2,613,996		J Sainsbury plc		10,951
	398,113		Jeronimo Martins SGPS S.A.		5,868
	7,600	e	Kansai Super Market Ltd		80
	51,600		Kato Sangyo Co Ltd		1,740
	48,297		Kesko Oyj (B Shares)		2,620
	19,400		Kobe Bussan Co Ltd		1,103
	2,066,818		Koninklijke Ahold Delhaize NV		47,418
	1,567,706		Kroger Co		45,636
	23,900		Kusuri no Aoki Holdings Co Ltd		1,903
	288,700	*,e	La Comer SAB de C.V.		326
	52,380		Lawson, Inc		3,190
	253,000	*	Lianhua Supermarket Holdings Co Ltd		60
	10,400		Life Corp		266
	381,006		Loblaw Cos Ltd		19,575
	420,745		Magnit OAO (GDR)		5,969
	57,286	*	Magnit PJSC (GDR)		814
	31,205		Majestic Wine plc		159
	77,933		MARR S.p.A.		2,282
	79,291		Massmart Holdings Ltd		579
	52,200		Matsumotokiyoshi Holdings Co Ltd		2,141
	594,511		Metcash Ltd		1,288
	515,550		Metro Wholesale & Food Specialist AG.		8,075
	277,317	e	Metro, Inc		8,627

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	37,849	*	Migros Ticaret AS	$	101
	10,900		Ministop Co Ltd		209
	230,268	*	Natural Grocers by Vitamin C		3,889
	6,000	e	Nihon Chouzai Co Ltd		188
	3,300	*	Nishimoto Co Ltd		153
	109,103	e	North West Co, Inc		2,375
	40,000		Okuwa Co Ltd		407
	568,747	*	Performance Food Group Co		18,939
	1,345,521		Pick’n Pay Stores Ltd		6,544
	692,822		President Chain Store Corp		8,134
	29,642		Pricesmart, Inc		2,400
	16,500		Qol Co Ltd		361
	228,002		Raia Drogasil S.A.		4,089
	20,651	e	Rallye S.A.		242
	15,424		Rami Levi Chain Stores Hashikma Marketing 2006 Ltd		729
	14,700	*	Retail Partners Co Ltd		193
	1,596,452	*,e	Rite Aid Corp		2,043
	985,220		Robinsons Retail Holdings, Inc		1,453
	49,979		Ryoshoku Ltd		1,335
	11,700		San-A Co Ltd		523
	769,613		Seven & I Holdings Co Ltd		34,313
	2,954,200		Sheng Siong Group Ltd		2,419
	8,200	e	Shoei Foods Corp		303
	561,193		Shoprite Holdings Ltd		7,599
	93,997		Shufersal Ltd		601
	332,051	*	Smart & Final Stores, Inc		1,893
	1,351,497	*	SMU S.A.		408
	13,200	m	Sogo Medical Co Ltd		296
	5,110,238		Sonae SPGS S.A.		5,300
	196,132		Spar Group Ltd		2,554
	242,870		Spartan Stores, Inc		4,872
	433,000		Springland International Holdings Ltd		95
	122,467	*	Sprouts Farmers Market, Inc		3,357
	24,100		Sugi Pharmacy Co Ltd		1,184
	6,236,927		Sun Art Retail Group Ltd		8,091
	59,476		Sundrug Co Ltd		2,122
	51,426	*,e	SUPERVALU, Inc		1,657
	588,173		Sysco Corp		43,084
	428,000		Taiwan TEA Corp		218
	39,970,469		Tesco plc		124,968
	28,977		Tsuruha Holdings, Inc		3,567
	193,283	*	United Natural Foods, Inc		5,789
	211,850		United Super Markets Holdings, Inc		2,637
	728,188	*	US Foods Holding Corp		22,443
	32,000		Valor Co Ltd		740
	10,803		Village Super Market (Class A)		294
	988,853		Walgreens Boots Alliance, Inc		72,087
	13,554,150		Wal-Mart de Mexico SAB de C.V.		41,306
	3,968,582		Walmart, Inc		372,689
	13,536		Weis Markets, Inc		587
	1,069,410		Wesfarmers Ltd		38,509
	984,715		WM Morrison Supermarkets plc		3,329

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,423,930		Woolworths Ltd	$	28,880
	46,327		X 5 Retail Group NV (GDR)		1,047
	82,728	*	X 5 Retail Group NV (GDR)		1,872
	6,600	e	Yakuodo Co Ltd		226
	22,100		Yaoko Co Ltd		1,352
	28,200	e	Yokohama Reito Co Ltd		229
	260,700		Yonghui Superstores Co Ltd		309
	3,045	*,e	Zur Rose Group AG.		395
			TOTAL FOOD & STAPLES RETAILING		1,268,581
FOOD, BEVERAGE & TOBACCO - 4.1%
	148,828	*,e	22nd Century Group, Inc		418
	1,358,978	*	a2 Milk Co Ltd		10,137
	166,226		AAK AB		2,877
	60,086	*	Adecoagro S.A.		442
	8,384		Agrana Beteiligungs AG.		188
	15,154	e	AGT Food & Ingredients, Inc		207
	271,693		Agthia Group PJSC		331
	343,277		Ajinomoto Co, Inc		5,897
	5,218		Alico, Inc		176
	4,442,673		Altria Group, Inc		267,938
	5,636,374		AMBEV S.A.		25,596
	228,095		Anadolu Efes Biracilik Ve Malt Sanayii AS		796
	44,636	e	Anheuser-Busch InBev NV (ADR)		3,909
	756,194		Anheuser-Busch InBev S.A.		66,194
	676,542		Archer Daniels Midland Co		34,010
	11,500		Ariake Japan Co Ltd		1,147
	61,925	*,e	Aryzta AG.		591
	362,769		Asahi Breweries Ltd		15,740
	952,934		Associated British Foods plc		28,441
	318,066		Astral Foods Ltd		5,546
	5,256		Atria Group plc		57
	135,202		Austevoll Seafood ASA		1,863
	219,839	*,e	Australian Agricultural Co Ltd		204
	22,077		Avanti Feeds Ltd		118
	218,681		AVI Ltd		1,644
	88,946	e	B&G Foods, Inc (Class A)		2,442
	116,296		Bakkafrost P		7,095
	95,999	g	Bakkavor Group plc		211
	5,003		Barry Callebaut AG.		9,474
	245,571	e	Bega Cheese Ltd		1,209
	144,900		Beijing Dabeinong Technology Group Co Ltd		77
	1,491		Bell AG.		473
	574,085	*,e	Bellamy’s Australia Ltd		4,243
	3,344		Binggrae Co Ltd		227
	122,500	*	Biostime International Holdings Ltd		738
	9,483		Bonduelle S.C.A.		298
	11,362	*	Boston Beer Co, Inc (Class A)		3,267
	410,800		Boustead Plantations BHD		112
	496,886	*	BRF S.A.		2,703
	49,224		Britannia Industries Ltd		3,954
	169,604		British American Tobacco Malaysia BHD		1,300
	4,142,272		British American Tobacco plc		193,115
	3,132		British American Tobacco plc (ADR)		146

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,191,160		Britvic plc	$	12,125
	82,832		Brown-Forman Corp		4,208
	187,417		Brown-Forman Corp (Class B)		9,474
	503,900		Bumitama Agri Ltd		247
	1,088,282		Bunge Ltd		74,776
	285,469		C&C Group plc		1,101
	20,829	e	Calavo Growers, Inc		2,012
	63,974		Calbee, Inc		2,106
	122,712		Cal-Maine Foods, Inc		5,927
	98,900		Camil Alimentos S.A.		172
	235,006	e	Campbell Soup Co		8,608
	63,488		Carlsberg AS (Class B)		7,614
	228,100		Carlsberg Brewery-Malay BHD		1,102
	120,455	*,e	Castle Brands, Inc		129
	37,553		CCL Products India Ltd		130
	28,619	*,e	Celsius Holdings, Inc		115
	722,100		Century Pacific Food, Inc		190
	796,000		Charoen Pokphand Enterprise		1,343
	3,044,226		Charoen Pokphand Foods PCL		2,377
	12,424,000		China Agri-Industries Holdings Ltd		4,792
	4,375,889	*,†,e,m	China Huishan Dairy Holdings Co Ltd		6
	370,000	*,†,m	China Huiyuan Juice Group Ltd		48
	2,936,946		China Mengniu Dairy Co Ltd		9,764
	1,248,000	*	China Modern Dairy Holdings		174
	3,219,164		China Resources Beer Holdings Company Ltd		12,909
	2,569,000	*,e,g	China Shengmu Organic Milk Ltd		128
	45,700		Chubu Shiryo Co Ltd		628
	440,626		Cia Cervecerias Unidas S.A.		6,141
	7,886		CJ CheilJedang Corp		2,370
	145,576		Cloetta AB		449
	568,115		Coca-Cola Amatil Ltd		4,005
	6,345		Coca-Cola Bottling Co Consolidated		1,157
	11,852,332	n	Coca-Cola Co		547,459
	779,070		Coca-Cola European Partners plc (Class A)		35,424
	801,527		Coca-Cola Femsa S.A. de C.V.		4,894
	411,732		Coca-Cola HBC AG.		14,027
	78,299		Coca-Cola Icecek AS		437
	125,100		Coca-Cola West Japan Co Ltd		3,348
	10,490,000		Cofco International Ltd		5,333
	615,000	*	COFCO Meat Holdings Ltd		89
	4,501,187		ConAgra Foods, Inc		152,905
	584,246		Constellation Brands, Inc (Class A)		125,975
	14,401	e	Corby Spirit and Wine Ltd		225
	801,104		Costa Group Holdings Ltd		4,126
	1,406,954		Costco Wholesale Corp		330,465
	387,710	e	Cott Corp (Toronto)		6,258
	44,159	*	Craft Brewers Alliance, Inc		722
	83,139		Daesang Corp		1,967
	47,277		Daesang Holdings Co Ltd		355
	277,729	e	Dairy Crest Group plc		1,654
	2,578,000	g	Dali Foods Group Co Ltd		1,854
	1,167,915		Danone		90,765
	221,296	*	Darling International, Inc		4,275

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,706,555		Davide Campari-Milano S.p.A	$	65,627
	118,466		Dean Foods Co		841
	5,126,182		Diageo plc		181,611
	632		Dongwon F&B Co Ltd		169
	6,786		Dongwon Industries Co Ltd		1,830
	18,400		Dydo Drinco, Inc		921
	1,214,000	*,†,e,m	Dynasty Fine Wines Group Ltd		2
	2,421,540		Eastern Tobacco		2,559
	461,105	e	Easy Bio, Inc		3,211
	65,159		Ebro Puleva S.A.		1,422
	294,938		Embotelladora Andina S.A.		1,148
	467,001		Embotelladoras Arca SAB de C.V.		3,017
	2,417		Emmi AG.		1,804
	29,300		Ezaki Glico Co Ltd		1,440
	12,478	*	Farmer Bros Co		329
	11,949		Farmsco		104
	98,800		Feed One Co Ltd		184
	1,770,204		Felda Global Ventures Holdings BHD		663
	1,231,250		Fevertree Drinks plc		57,850
	361,300	e	First Resources Ltd		444
	157,188		Flowers Foods, Inc		2,933
	2,918,463		Fomento Economico Mexicano S.A. de C.V.		28,879
	362,007	e	Fonterra Shareholders’ Fund		1,173
	146,951		ForFarmers NV		1,663
	41,800		Foshan Haitian Flavouring & Food Co Ltd		481
	179,200		Fraser & Neave Holdings BHD		1,633
	61,751	e	Freedom Foods Group Ltd		275
	126,199		Fresh Del Monte Produce, Inc		4,277
	103,821	*	Freshpet, Inc		3,810
	46,473		Fuji Oil Co Ltd		1,465
	12,332		Fujicco Co Ltd		255
	54,500		Fujiya Co Ltd		1,226
	552,888		Futuris Corp Ltd		2,832
	695,429		General Mills, Inc		29,848
	286,014		Genting Plantations BHD		656
	283,000		GFPT PCL (Foreign)		130
	134,766	e	Glanbia plc		2,326
	9,319		Godfrey Phillips India Ltd		97
	654,534	e	Golden Agri-Resources Ltd		120
	245,245		GrainCorp Ltd-A		1,400
	3,504,541		Great Wall Enterprise Co		4,331
	447,343	e	Greencore Group plc		1,079
	9,254	e	Greenyard Foods		85
	32,560		Grieg Seafood ASA		430
	336,570	e	Gruma SAB de C.V.		4,303
	1,829,716	e	Grupo Bimbo S.A. de C.V. (Series A)		3,902
	143,895	e	Grupo Herdez SAB de C.V.		325
	85,140	*	Hain Celestial Group, Inc		2,309
	6,102		Haitai Confectionery & Foods Co Ltd		68
	65,386		Heineken Holding NV		5,929
	585,659		Heineken NV		54,964
	66,700		Henan Shuanghui Investment & Development Co Ltd		254
	134,340		Hershey Co		13,703

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,400		Hokuto Corp	$	280
	309,540	e	Hormel Foods Corp		12,196
	133,285	*	Hostess Brands, Inc		1,475
	79,048	e	Hotel Chocolat Group Ltd		350
	41,152		House Foods Corp		1,236
	450,700		Ichitan Group PCL		65
	357,976		Imperial Tobacco Group plc		12,457
	2,396,230		Indofood CBP Sukses Makmur Tbk		1,420
	136,000		Industrias Bachoco SAB de C.V.		611
	1,927,168	e	Inghams Group Ltd		5,405
	70,903		Ingredion, Inc		7,442
	118,800		Inner Mongolia Yili Industrial Group Co Ltd		444
	1,843,897		IOI Corp BHD		2,023
	5,812,830		ITC Ltd		23,881
	43,800		Ito En Ltd		1,945
	306,900		Itoham Yonekyu Holdings, Inc		2,117
	20,221		J&J Snack Foods Corp		3,051
	92,495		J.M. Smucker Co		9,491
	1,193,221		Japan Tobacco, Inc		31,159
	2,101,800	e	Japfa Ltd		1,007
	931,997		JBS S.A.		2,165
	358,825	e	Jeil Holdings Co Ltd		3,413
	27,000		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		502
	20,549		Jinro Ltd		312
	11,296		John B. Sanfilippo & Son, Inc		806
	25,400	e	J-Oil Mills, Inc		870
	257,691		Juhayna Food Industries		146
	48,673		Kagome Co Ltd		1,406
	7,900	e	Kameda Seika Co Ltd		372
	19,713		Kaveri Seed Co Ltd		158
	245,772		Kellogg Co		17,209
	9,000	e	Kenko Mayonnaise Co Ltd		226
	447,100		Kerry Group plc (Class A)		49,445
	91,668		Keurig Dr Pepper, Inc		2,124
	11,500	e	KEY Coffee, Inc		211
	1,164,460		Khon Kaen Sugar Industry PCL		122
	129,571	e	Kikkoman Corp		7,717
	1,004,890		Kirin Brewery Co Ltd		25,773
	49,586		Koninklijke Wessanen NV		607
	16,400		Kotobuki Spirits Co Ltd		771
	4,146,624	n	Kraft Heinz Co		228,520
	77,839		KRBL Ltd		351
	124,315		KT&G Corp		11,655
	424,252		Kuala Lumpur Kepong BHD		2,559
	20,700		Kweichow Moutai Co Ltd		2,197
	2,154		KWS Saat AG.		831
	24,855		La Doria S.p.A		326
	417,412		Lamb Weston Holdings, Inc		27,800
	25,368		Lancaster Colony Corp		3,785
	37,468	*	Landec Corp		540
	1,053,661		Leroy Seafood Group ASA		8,599
	448,028		Lien Hwa Industrial Corp		518
	34,262		Limoneira Co		895

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,862		Lindt & Spruengli AG.	$	13,031
	18		Lindt & Spruengli AG. (Registered)		1,474
	237		Lotte Chilsung Beverage Co Ltd		297
	1,042		Lotte Confectionery Co Ltd		170
	4,302		Lotte Samkang Co Ltd		3,219
	38,900		Luzhou Laojiao Co Ltd		269
	125,380		M Dias Branco S.A.		1,223
	21,677		Maeil Dairies Co Ltd		1,624
	33,654		Manpasand Beverages Ltd		50
	53,546		Maple Leaf Foods, Inc		1,288
	144,200	*	Marfrig Global Foods S.A.		189
	12,400		Marudai Food Co Ltd		240
	74,600		Maruha Nichiro Corp		2,754
	121,444		McCormick & Co, Inc		16,000
	117,400		Megmilk Snow Brand Co Ltd		3,018
	95,101		MEIJI Holdings Co Ltd		6,392
	40,944	e	MGP Ingredients, Inc		3,234
	74,900		Minerva S.A.		93
	28,200		Mitsui Sugar Co Ltd		809
	362,795		Molson Coors Brewing Co (Class B)		22,312
	6,556,129		Mondelez International, Inc		281,651
	3,967,641	*	Monster Beverage Corp		231,234
	24,060		Morinaga & Co Ltd		899
	28,700		Morinaga Milk Industry Co Ltd		780
	10,254		Muhak Co Ltd		142
	60,500		Muyuan Foodstuff Co Ltd		219
	6,000		Nagatanien Co Ltd		163
	110,000		Namchow Chemical Industrial Ltd		184
	234		Namyang Dairy Products Co Ltd		137
	15,931	e	National Beverage Corp		1,858
	24,678	*	Naturecell Co Ltd		342
	34,738		Nestle India Ltd		4,649
	66,800		Nestle Malaysia BHD		2,363
	2,047,431		Nestle S.A.		170,421
	175,500		New Hope Liuhe Co Ltd		156
	68,300		Nichirei Corp		1,812
	5,900		Nippon Beet Sugar Manufacturing Co Ltd		108
	113,800		Nippon Flour Mills Co Ltd		2,006
	71,272		Nippon Meat Packers, Inc		2,633
	711,413		Nippon Suisan Kaisha Ltd		4,636
	110,100	e	Nisshin Oillio Group Ltd		3,231
	157,513		Nisshin Seifun Group, Inc		3,454
	48,638		Nissin Food Products Co Ltd		3,346
	1,939		Nong Shim Co Ltd		426
	1,229		Nong Shim Holdings Co Ltd		91
	9,289		Norway Royal Salmon ASA		224
	26,531		Oceana Group Ltd		155
	123,953		Origin Enterprises plc		816
	14,453		Orion Corp		246
	24,577		Orion Corp/Republic of Korea		2,337
	14,930		Orior AG.		1,400
	170,750		Orkla ASA		1,443
	5,589		Ottogi Corp		3,763
	781,314		PAN Fish ASA		18,105

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,838,251		PepsiCo, Inc	$	317,316
	43,489		Pernod-Ricard S.A.		7,133
	4,241,957	n	Philip Morris International, Inc		345,889
	152,355	*	Pilgrim’s Pride Corp		2,756
	594,741		Pinnacle Foods, Inc		38,545
	258,124		Pioneer Foods Ltd		1,679
	157,503	*	Post Holdings, Inc		15,442
	578,829		PPB Group BHD		2,347
	425,260	*	Premier Foods plc		235
	21,427	e	Premium Brands Holdings Corp		1,563
	74,400	e	Prima Meat Packers Ltd		1,754
	290,955	*	Primo Water Corp		5,252
	5,692,200		PT Austindo Nusantara Jaya		500
	6,904,600	*	PT BW Plantation Tbk		94
	17,396,318		PT Charoen Pokphand Indonesia Tbk		5,925
	473,911		PT Gudang Garam Tbk		2,354
	10,471,900		PT Hanjaya Mandala Sampoerna Tbk		2,705
	4,813,091		PT Indofood Sukses Makmur Tbk		1,906
	19,080,200	*	PT Inti Agri Resources Tbk		336
	10,177,100		PT Japfa Comfeed Indonesia Tbk		1,400
	1,432,444		PT Nippon Indosari Corpindo Tbk		106
	1,796,500		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		154
	1,294,000		PT Salim Ivomas Pratama Tbk		43
	2,026,600		PT Sawit Sumbermas Sarana Tbk		175
	5,318,900		PT Tunas Baru Lampung Tbk		373
	3,998		Pulmuone Co Ltd		416
	9,263	*	Pyxus International, Inc		213
	68,300		Q.P. Corp		1,583
	106,825		QAF Ltd		59
	486,985		QL Resources BHD		804
	28,951		Radico Khaitan Ltd		139
	212,396		Remy Cointreau S.A.		27,701
	12,000,000		RFM Corp		1,077
	93,447	e	Rhodes Food Group Pty Ltd		107
	24,800		Riken Vitamin Co Ltd		860
	15,400	e	Rock Field Co Ltd		255
	57,483	e	Rogers Sugar, Inc		247
	8,600	e	Rokko Butter Co Ltd		196
	149,097		Royal Unibrew A.S.		12,273
	11,300		S Foods, Inc		489
	1,893		Sajo Industries Co Ltd		107
	18,355		Sakata Seed Corp		661
	245,354		Salmar ASA		12,257
	1,043		Samlip General Foods Co Ltd		130
	2,178		Samyang Corp		143
	2,046		Samyang Foods Co Ltd		144
	10,315		Samyang Holdings Corp		944
	27,631	e	Sanderson Farms, Inc		2,856
	451,400		Sao Martinho S.A.		2,048
	198,500		Sapporo Holdings Ltd		4,128
	429,035		Saputo, Inc		12,762
	34,321		Scandi Standard AB		221

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	49,567	g	Scandinavian Tobacco Group A.S.	$	760
	8,294		Schouw & Co		688
	707		Seaboard Corp		2,623
	60,014		Select Harvests Ltd		231
	9,142	*	Seneca Foods Corp		308
	28,837		Shanxi Xinghuacun Fen Wine Factory Co Ltd		198
	35,200		Showa Sangyo Co Ltd		907
	2,266,660		Sime Darby Plantation BHD		2,899
	254,154	*	Simply Good Foods Co		4,943
	646,700		SLC Agricola S.A.		9,766
	504,861		Standard Foods Corp		839
	17,000		Starzen Co Ltd		732
	125,311		Stock Spirits Group plc		322
	29,972		Strauss Group Ltd		659
	46,505		Suedzucker AG.		618
	138,983		Suntory Beverage & Food Ltd		5,888
	144,981		Swedish Match AB		7,411
	539,017	*	Synlait Milk Ltd		3,877
	540,100		Takara Holdings, Inc		7,941
	293,100		Taokaenoi Food & Marketing PCL		158
	288,523		Tassal Group Ltd		942
	188,647		Tata Tea Ltd		608
	396,439		Tate & Lyle plc		3,525
	1,480,409		Thai Union Group PCL		819
	2,958,200		Thai Vegetable Oil PCL (Foreign)		2,653
	839,600		Thaifoods Group PCL		109
	1,393,000	*	Tibet 5100 Water Resources Holdings Ltd		440
	164,702		Tiger Brands Ltd		3,087
	10,175,190		Tingyi Cayman Islands Holding Corp		18,691
	69,561		Tongaat Hulett Ltd		364
	168,300		Tongwei Co Ltd		163
	20,255	e	Tootsie Roll Industries, Inc		592
	68,336		Toyo Suisan Kaisha Ltd		2,653
	559,633		Treasury Wine Estates Ltd		7,064
	109,785	*	TreeHouse Foods, Inc		5,253
	419,579		Tsingtao Brewery Co Ltd		1,968
	31,800		Tsingtao Brewery Co Ltd (Class A)		161
	110,000		Ttet Union Corp		358
	26,495		Turning Point Brands, Inc		1,098
	355,677		Tyson Foods, Inc (Class A)		21,173
	354,152	*	Ulker Biskuvi Sanayi AS		993
	1,364,000		Uni-President China Holdings Ltd		1,452
	5,225,977		Uni-President Enterprises Corp		13,635
	572,269	*	United Spirits Ltd		4,061
	39,500		Universal Corp		2,567
	850,144		Universal Robina		2,271
	65,233		Varun Beverages Ltd		665
	138,633	e	Vector Group Ltd		1,910
	2,445		Venky’s India Ltd		74
	238,847		Vina Concha y Toro S.A.		478
	30,438		Viscofan S.A.		2,217
	12,737,614	e	Want Want China Holdings Ltd		10,715
	8,500	e	Warabeya Nichiyo Co Ltd		150
	203,000	*	Wei Chuan Food Corp		149

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,532,693	g	WH Group Ltd	$	5,288
	2,140,488		Wilmar International Ltd		5,040
	67,000		Wuliangye Yibin Co Ltd		661
	131,730		Yakult Honsha Co Ltd		10,803
	97,632		Yamazaki Baking Co Ltd		1,956
	679,000	*,e	Yashili International		128
	264,000		Yihai International Holding Ltd		599
	5,552		Zydus Wellness Ltd		105
			TOTAL FOOD, BEVERAGE & TOBACCO		5,089,082
HEALTH CARE EQUIPMENT & SERVICES - 5.1%
	15,290	*,e	AAC Holdings, Inc		117
	6,830,109		Abbott Laboratories		501,057
	88,543	*	Abiomed, Inc		39,822
	165,007	*	Acadia Healthcare Co, Inc		5,808
	117,158	*	Accuray, Inc		527
	91,257	*	Addus HomeCare Corp		6,402
	593,280	e	Advanced Medical Solutions Group plc		2,556
	481,083		Aetna Inc		97,588
	104,870	*	AGFA-Gevaert NV		481
	1,994,000	g	AK Medical Holdings Ltd		1,369
	252,136		Alfresa Holdings Corp		6,754
	3,830,659	*	Alibaba Health Information Technology Ltd		3,746
	183,185	*,n	Align Technology, Inc		71,666
	39,100	*	Alliar Medicos A Frente S.A.		113
	230,897	*	Allscripts Healthcare Solutions, Inc		3,290
	125,473		Ambu A.S.		3,012
	59,287	*	Amedisys, Inc		7,409
	19,016	*	American Renal Associates Holdings, Inc		412
	728,767		AmerisourceBergen Corp		67,207
	63,758	*	AMN Healthcare Services, Inc		3,488
	525,087		Amplifon S.p.A.		11,642
	88,520	*	Angiodynamics, Inc		1,924
	20,157	*	Anika Therapeutics, Inc		850
	246,211		Ansell Ltd		4,491
	202,012	*	Antares Pharma, Inc		679
	691,122		Anthem, Inc		189,402
	105,797		Apollo Hospitals Enterprise Ltd		1,521
	4,250	*,e	Apollo Medical Holdings, Inc		94
	738,282		Arjo AB		2,496
	38,835	e	As One Corp		2,901
	76,500		Asahi Intecc Co Ltd		3,336
	24,946		Ascom Holding AG.		507
	103,906	*	athenahealth, Inc		13,882
	80,864	*	AtriCure, Inc		2,833
	8,257		Atrion Corp		5,737
	68,048	g	Attendo AB		640
	1,281,189		Australian Pharmaceutical Industries Ltd		1,597
	63,416	*	Avanos Medical, Inc		4,344
	44,979	*	AxoGen, Inc		1,657
	760,850		Bangkok Chain Hospital PCL		489
	14,930,645		Bangkok Dusit Medical Services PCL (Foreign)		11,772
	1,541,180		Baxter International, Inc		118,810

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	275,923		Becton Dickinson & Co	$	72,016
	2,838,000	*,e	Beijing Enterprises Medical & Health Group Ltd		130
	19,670	*,g	Biocartis NV		281
	30,190	e	BioMerieux		2,520
	176,174	*	BioScrip, Inc		546
	43,846	*	BioTelemetry, Inc		2,826
	67,100		BML, Inc		2,042
	6,744		Boditech Med, Inc		97
	3,777,455	*	Boston Scientific Corp		145,432
	248,125	*	Brookdale Senior Living, Inc		2,439
	253,865		Bumrungrad Hospital PCL (Foreign)		1,459
	76,843		Cantel Medical Corp		7,074
	238,337	g	Capio AB		1,359
	90,872	*	Capital Senior Living Corp		858
	576,467		Cardinal Health, Inc		31,129
	243,384	*	Cardiovascular Systems, Inc		9,526
	94,607		Carl Zeiss Meditec AG.		7,952
	111,550	*	Castlight Health, Inc		301
	153		Celesio AG.		5
	38,592	*,e	Celltrion Healthcare Co Ltd		3,208
	633,361	*	Centene Corp		91,698
	613,435	*	Cerner Corp		39,511
	347,189	*	Cerus Corp		2,503
	27,699		Chemed Corp		8,852
	2,330,000	*	China Medical & HealthCare Group Ltd		76
	1,187,500		China NT Pharma Group Co Ltd		225
	1,764,000		China Pioneer Pharma Holdings Ltd		394
	503,500	e	China Resources Phoenix Healthcare Holdings Co Ltd		457
	3,136,400		Chularat Hospital PCL		275
	955,773		Cigna Corp		199,040
	136,885	*	Civitas Solutions, Inc		2,019
	178,000	*,e	C-Mer Eye Care Holdings Ltd		98
	123,110		Cochlear Ltd		17,850
	128,109		Coloplast AS		13,087
	17,907		CompuGroup Medical AG.		1,033
	14,325	e	Computer Programs & Systems, Inc		385
	33,368		Conmed Corp		2,643
	319,725	g	ConvaTec Group plc		967
	36,087		Cooper Cos, Inc		10,002
	12,777	*	Corvel Corp		770
	50,214	*	Cross Country Healthcare, Inc		438
	48,068	*	CryoLife, Inc		1,692
	32,725	*,e	CryoPort, Inc		419
	18,695	*	Cutera, Inc		609
	43,533	e	CVS Group plc		528
	4,727,319		CVS Health Corp		372,134
	197,600	*,e	CYBERDYNE, Inc		1,560
	37,597	*,e	CytoSorbents Corp		485
	1,268,693		Danaher Corp		137,856
	115,583	*	DaVita, Inc		8,279
	4,066		Dentium Co Ltd		369
	431,048		Dentsply Sirona, Inc		16,268
	171,751	*	DexCom, Inc		24,567

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	111,243		DiaSorin S.p.A.	$	11,693
	6,350	*,e	DIO Corp		184
	76,788	*	Diplomat Pharmacy, Inc		1,490
	27,938	g	Dr Lal PathLabs Ltd		369
	27,030		Draegerwerk AG.		1,714
	5,062		Draegerwerk AG. & Co KGaA		302
	1,425,757	*	Edwards Lifesciences Corp		248,224
	23,200		Eiken Chemical Co Ltd		539
	7,631		El.En. S.p.A		187
	9,058	*,e	ElectroCore LLC		127
	518,888		Elekta AB (B Shares)		6,977
	104,335		EMIS Group plc		1,374
	426,126		Encompass Health Corp		33,217
	117,409	*	Endologix, Inc		224
	71,212		Ensign Group, Inc		2,700
	104,808	*	Envision Healthcare Corp		4,793
	209,180		Essilor International S.A.		30,963
	1,213,382		Estia Health Ltd		2,076
	91,129	*,e	Evolent Health, Inc		2,588
	810,528	*	Express Scripts Holding Co		77,008
	56,008	e	Extendicare, Inc		333
	247,669		Fagron NV		4,791
	593,697		Fisher & Paykel Healthcare Corp		5,920
	184,900		Fleury S.A.		975
	7,929	*	FONAR Corp		197
	1,190,648	*	Fortis Healthcare Ltd		2,218
	312,643		Fresenius Medical Care AG.		32,122
	221,094		Fresenius SE		16,213
	16,500		Fukuda Denshi Co Ltd		1,075
	568,504	*,e	Genesis Health Care, Inc		767
	72,287	*,e	GenMark Diagnostics, Inc		531
	150,351	e	Getinge AB (B Shares)		1,727
	29,000		Ginko International Co Ltd		191
	44,594	*,e	Glaukos Corp		2,894
	96,777	*	Globus Medical, Inc		5,493
	477,700		GN Store Nord		23,253
	564,000	e	Golden Meditech Holdings Ltd		61
	27,300		Green Hospital Supply, Inc		1,056
	3,340	e	Guerbet		253
	271,079	*	Haemonetics Corp		31,060
	5,222,100		Hartalega Holdings BHD		8,349
	732,085		HCA Holdings, Inc		101,848
	140,802	*	HealthEquity, Inc		13,293
	611,965		Healthscope Ltd		928
	110,242		HealthStream, Inc		3,419
	20,377	*,e	Helius Medical Technologies, Inc		199
	169,356	*	Henry Schein, Inc		14,400
	17,863	*	Heska Corp		2,024
	140,293		Hill-Rom Holdings, Inc		13,244
	270,778	*	HMS Holdings Corp		8,884
	14,900		Hogy Medical Co Ltd		514
	302,943	*	Hologic, Inc		12,415
	198,905		Hoya Corp		11,813

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,650		Huadong Medicine Co Ltd	$	217
	48,321	e	Humana AB		310
	598,679		Humana, Inc		202,665
	2,739		Huons Global Co Ltd		136
	67,402	*	ICU Medical, Inc		19,058
	171,205	*	Idexx Laboratories, Inc		42,743
	2,680,242		IHH Healthcare BHD		3,374
	28,800	*,e	iKang Healthcare Group, Inc (ADR)		521
	5,872		InBody Co Ltd		150
	41,590	*	Inogen Inc		10,153
	115,706	*,e	Inovalon Holdings, Inc		1,163
	10,179	*	Inspire Medical Systems, Inc		428
	36,700		Instituto Hermes Pardini S.A.		137
	201,652	*,e	Insulet Corp		21,365
	287,851	*	Integer Holding Corp		23,877
	61,796	*	Integra LifeSciences Holdings Corp		4,071
	3,924		Interojo Co Ltd		111
	16,752	*	IntriCon Corp		941
	505,779	*	Intuitive Surgical, Inc		290,317
	46,096		Invacare Corp		671
	15,333	e	Ion Beam Applications		313
	5,067	*,e	iRadimed Corp		188
	113,692	*	iRhythm Technologies, Inc		10,762
	5,054		i-SENS Inc		101
	35,300	e	Japan Lifeline Co Ltd		746
	764,522	e	Japara Healthcare Ltd		765
	174,500		Jeol Ltd		3,787
	72,000		Jointown Pharmaceutical Group Co Ltd		159
	72,556	*	K2M Group Holdings, Inc		1,986
	1,968,693		Koninklijke Philips Electronics NV		89,736
	132,470		Korian-Medica		4,824
	1,153,500		Kossan Rubber Industries		1,196
	8,611,992		KPJ Healthcare BHD		2,247
	130,172	*	Laboratory Corp of America Holdings		22,608
	149,542	*	Lantheus Holdings, Inc		2,236
	12,562		Le Noble Age		779
	56,415		LeMaitre Vascular, Inc		2,186
	39,611	*	LHC Group, Inc		4,080
	1,314,394		Life Healthcare Group Holdings Pte Ltd		2,283
	48,306	*	LifePoint Hospitals, Inc		3,111
	1,336,000	*	Lifetech Scientific Corp		329
	82,835	*	LivaNova plc		10,269
	10,792		Lutronic Corp		127
	114,668		M3, Inc		2,600
	54,562	*	Magellan Health Services, Inc		3,931
	15,100		Mani, Inc		736
	121,622	*	Masimo Corp		15,147
	30,407	*	Mazor Robotics Ltd		886
	375,230		McKesson Corp		49,774
	15,900	*,e	Medical Data Vision Co Ltd		266
	218,851	e	Medical Facilities Corp		2,431
	7,673		Medicare Group		138
	454,401		Mediceo Paltac Holdings Co Ltd		9,493
	963,331	e	Mediclinic International plc		5,380

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	77,381	*	Medidata Solutions, Inc	$	5,673
	4,495	*	Medipost Co Ltd		421
	183,709	*	MEDNAX, Inc		8,572
	3,167,900		Medtronic plc		311,626
	88,640		Meinian Onehealth Healthcare Holdings Co Ltd		222
	15,600		Menicon Co Ltd		380
	60,558		Meridian Bioscience, Inc		902
	71,418	*	Merit Medical Systems, Inc		4,389
	633,517		Metlifecare Ltd		2,728
	123,900		Microlife Corp		342
	261,832	e	Microport Scientific Corp		346
	34,900	e	Miraca Holdings, Inc		908
	34,604	*,g	MLP Saglik Hizmetleri AS.		69
	488,176	*	Molina Healthcare, Inc		72,592
	13,636		Nagaileben Co Ltd		326
	120,800		Nakanishi, Inc		2,514
	156,072	*,e	Nanosonics Ltd		405
	27,203	*,e	NantHealth, Inc		43
	34,811		National Healthcare Corp		2,624
	39,111		National Research Corp		1,510
	43,360	*	Natus Medical, Inc		1,546
	66,807	*	Neogen Corp		4,779
	1,210,145		Network Healthcare Holdings Ltd		2,072
	1,453		Neuca S.A.		103
	8,889	*	Neuronetics, Inc		285
	108,624	*	Nevro Corp		6,192
	102,291	*	NextGen Healthcare, Inc		2,054
	104,000	e	Nichii Gakkan Co		880
	59,900		Nihon Kohden Corp		1,898
	36,667		Nikkiso Co Ltd		480
	180,932	e	Nipro Corp		2,475
	191,680		NMC Health plc		8,473
	29,246	e,g	NNIT A.S.		811
	295,675	*	Novocure Ltd		15,493
	69,429	*	NuVasive, Inc		4,928
	18,198	*	Nuvectra Corp		400
	126,820	*	NxStage Medical, Inc		3,537
	317,970		Odontoprev S.A.		1,009
	237,168		Olympus Corp		9,255
	51,847	*	Omnicell, Inc		3,728
	305,582	*	OraSure Technologies, Inc		4,721
	84,587		Oriola-KD Oyj (B Shares)		277
	29,412		Orpea		3,805
	66,276	*	Orthofix International NV		3,831
	10,125	*,e	OrthoPediatrics Corp		371
	6,543	*	Osstem Implant Co Ltd		286
	81,203		Owens & Minor, Inc		1,341
	107,903	*	Oxford Immunotec Global plc		1,751
	50,100		Paramount Bed Holdings Co Ltd		2,469
	111,921	e	Patterson Cos, Inc		2,736
	69,319	*	Penumbra, Inc		10,377
	13,451	*,e	PetIQ, Inc		529
	57,499		Phonak Holding AG.		11,412

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	79,000	*,†,m	Pihsiang Machinery Manufacturing Co Ltd	$	45
	515,359	*	Premier, Inc		23,593
	497,604		Primary Health Care Ltd		1,094
	26,949		Pro Medicus Ltd		243
	122,967	*	Providence Service Corp		8,273
	492,762	*	PT Siloam International Hospitals Tbk		97
	12,948	*,e	Pulse Biosciences, Inc		184
	467,700		Qualicorp S.A.		1,909
	201,074		Quest Diagnostics, Inc		21,698
	44,376	*	Quidel Corp		2,892
	29,814	*	Quorum Health Corp		175
	677,799	*	R1 RCM, Inc		6,886
	212,321	*	RadNet, Inc		3,195
	493,307	e	Raffles Medical Group Ltd		408
	68,229		Ramsay Health Care Ltd		2,707
	15,675	*,e	RaySearch Laboratories AB		216
	83,761		Regis Healthcare Ltd		175
	8,021,300		Religare Health Trust		4,342
	198,803		Resmed, Inc		22,930
	12,326		Rhoen Klinikum AG.		317
	283,000	*,e,g	Rici Healthcare Holdings Ltd		63
	195,000		Rion Co Ltd		4,324
	59,665	*,e	Rockwell Medical, Inc		252
	70,384	*	RTI Biologics, Inc		317
	342,878		Ryman Healthcare Ltd		3,179
	30,352		Sartorius AG.		4,920
	23,737		Sartorius Stedim Biotech		3,268
	17,022	*	SeaSpine Holdings Corp		265
	7,200	*,e	Seed Co Ltd		128
	1,226,518		Selcuk Ecza Deposu Ticaret ve Sanayi AS		674
	146,989	*	Select Medical Holdings Corp		2,705
	96,512	*,e	Senseonics Holdings, Inc		460
	2,020,415		Shandong Weigao Group Medical Polymer Co Ltd		1,994
	58,000		Shanghai Pharmaceuticals Holding Co Ltd		173
	848,540		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		2,121
	374,612	*,g	Siemens Healthineers AG.		16,473
	42,676	e	Sienna Senior Living, Inc		566
	31,269	*,e	Sientra, Inc		747
	810,569	e	Sigma Healthcare Ltd		369
	16,509		Simulations Plus, Inc		333
	1,103,871		Sinopharm Group Co		5,401
	655,934		Smith & Nephew plc		11,967
	30,400	e	Solasto Corp		396
	268,242		Sonic Healthcare Ltd		4,826
	486,486	e,g	Spire Healthcare Group plc		904
	33,000		St. Shine Optical Co Ltd		726
	266,473	*	Staar Surgical Co		12,791
	176,214		STERIS Plc		20,159
	9,497		STRATEC Biomedical AG.		713
	30,881		Straumann Holding AG.		23,265
	1,011,501		Stryker Corp		179,724
	2,383		Suheung Capsule Co Ltd		68
	508,269		Summerset Group Holdings Ltd		2,631

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,866,000		Supermax Corp BHD	$	3,811
	26,666	*,e	Surgery Partners, Inc		440
	50,095	*	SurModics, Inc		3,740
	98,682		Suzuken Co Ltd		4,682
	56,742		Sysmex Corp		4,893
	23,451	*	Tabula Rasa HealthCare, Inc		1,904
	23,368	*,e	Tactile Systems Technology, Inc		1,660
	68,345	*,e	Tandem Diabetes Care, Inc		2,928
	118,653	*,e	Teladoc, Inc		10,246
	10,911		Teleflex, Inc		2,903
	184,723	*	Tenet Healthcare Corp		5,257
	233,576		Terumo Corp		13,824
	184,300		Thonburi Healthcare Group PCL		181
	54,045	*	Tivity Health, Inc		1,738
	301,900	e	Toho Pharmaceutical Co Ltd		8,017
	12,900		Tokai Corp (GIFU)		297
	854,000		Top Glove Corp BHD		2,199
	2,414,000	†,e,m	Town Health International Medical Group Ltd		3
	211,829	*,e	TransEnterix, Inc		1,229
	226,697	*	Triple-S Management Corp (Class B)		4,282
	35,900		Tsuki Corp		352
	161,759		United Drug plc		1,432
	2,946,177		UnitedHealth Group, Inc		783,801
	287,651		Universal Health Services, Inc (Class B)		36,773
	3,305,500	e,g	Universal Medical Financial & Technical Advisory Services Co Ltd		2,535
	16,893		US Physical Therapy, Inc		2,004
	4,679		Utah Medical Products, Inc		441
	4,119		Value Added Technologies Co Ltd		117
	54,684	*	Varex Imaging Corp		1,567
	125,866	*	Varian Medical Systems, Inc		14,088
	479,331	*	Veeva Systems, Inc		52,185
	3,485,500		Vibhavadi Medical Center PCL (Foreign)		276
	3,966		Vieworks Co Ltd		114
	80,403	*,e	ViewRay, Inc		753
	233,625		Virtus Health Ltd		945
	225,700	e	VITAL KSK Holdings, Inc		2,547
	39,533	*	Vocera Communications, Inc		1,446
	429,736	*	WellCare Health Plans, Inc		137,726
	9,900	g	Wenzhou Kangning Hospital Co Ltd		58
	54,746		West Pharmaceutical Services, Inc		6,759
	176,091	*	William Demant Holding A.S.		6,610
	232,728	*,e	Wright Medical Group NV		6,754
	2,489	e	Ypsomed Holding AG.		355
	2,129,878		Zimmer Biomet Holdings, Inc		280,015
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		6,432,998
HOUSEHOLD & PERSONAL PRODUCTS - 1.4%
	5,719	e	Able C&C Co Ltd		73
	34,602		Amorepacific Corp		8,139
	10,474		Amorepacific Corp (Preference)		1,298
	193,344		Asaleo Care Ltd		101
	1,351	*	Avon Products, Inc		3

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	52,115		Bajaj Corp Ltd	$	296
	108,649		Beiersdorf AG.		12,247
	1,064,400	e	Best World International Ltd		1,144
	8,193	e	Blackmores Ltd		784
	156,804	e	BWX Ltd		408
	57,248	*,e	Central Garden & Pet Co		2,063
	121,139	*	Central Garden and Pet Co (Class A)		4,015
	27,000		Chlitina Holding Ltd		204
	164,232		Church & Dwight Co, Inc		9,750
	2,888		CLIO Cosmetics Co Ltd		49
	101,580		Clorox Co		15,279
	684,759		Colgate-Palmolive Co		45,845
	2,156		Cosmax BTI, Inc		59
	4,660		Cosmax, Inc		659
	441,777		Coty, Inc		5,549
	776,765		Dabur India Ltd		4,575
	51,800		Do Day Dream PCL		76
	35,200	e	Dr Ci:Labo Co Ltd		1,302
	8,500	e	Earth Chemical Co Ltd		408
	160,600	*	Edgewell Personal Care Co		7,425
	126,221		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		77
	32,410	*,e	elf Beauty, Inc		413
	178,093		Energizer Holdings, Inc		10,445
	536,561		Essity AB		13,468
	1,210,892		Estee Lauder Cos (Class A)		175,967
	43,600	*,e	Euglena Co Ltd		336
	21,175		Eveready Industries India Ltd		58
	22,700		Fancl Corp		1,115
	8,975		Gillette India Ltd		828
	449,271		Godrej Consumer Products Ltd		4,765
	75,000		Grape King Industrial Co		527
	685,947		Hengan International Group Co Ltd		6,304
	20,812		Henkel KGaA		2,208
	37,099		Henkel KGaA (Preference)		4,350
	465,771	*	Herbalife Ltd		25,408
	988,850		Hindustan Lever Ltd		21,946
	9,516		Inter Parfums S.A.		487
	26,832		Inter Parfums, Inc		1,729
	4,960		It’s Skin Co Ltd		189
	25,584		Jamieson Wellness, Inc		528
	11,351	*,e	Jayjun Cosmetic Co Ltd		193
	98,330		Jyothy Laboratories Ltd		265
	506,807		Kao Corp		40,939
	250,577		Kimberly-Clark Corp		28,476
	1,570,116	e	Kimberly-Clark de Mexico S.A. de C.V. (Class A)		2,794
	59,600	*,e	Kitanotatsujin Corp		370
	78,000		Kobayashi Pharmaceutical Co Ltd		5,742
	7,367		Kolmar BNH Co Ltd		167
	8,364		Korea Kolmar Co Ltd		564
	4,618		Korea Kolmar Holdings Co Ltd		164
	48,300		Kose Corp		9,203
	9,943		LG Household & Health Care Ltd		11,436
	2,469		LG Household & Health Care Ltd (Preference)		1,790

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	347,300		Lion Corp	$	7,713
	305,560		L’Oreal S.A.		73,667
	25,158		Mandom Corp		799
	807,026		Marico Ltd		3,709
	67,574		Medifast, Inc		14,971
	230,924	*	Microbio Co Ltd		135
	17,700		Milbon Co Ltd		811
	574,998		Natura Cosmeticos S.A.		4,041
	9,142	e	Natural Health Trends Corp		213
	18,637	*	Nature’s Sunshine Products, Inc		163
	11,100		Noevir Holdings Co Ltd		605
	194,463		Nu Skin Enterprises, Inc (Class A)		16,028
	5,786	*,e	NUTRIBIOTECH Co Ltd		119
	920,000		NVC Lighting Holdings Ltd		67
	6,834		Oil-Dri Corp of America		263
	47,037		Ontex Group NV		1,001
	27,126	*	Oriflame Holding AG.		693
	24,472		Pacific Corp		2,058
	175,800		Pigeon Corp		9,907
	246,705		Pola Orbis Holdings, Inc		9,010
	7,020,894		Procter & Gamble Co		584,349
	7,181,300		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		405
	1,532,629		PT Unilever Indonesia Tbk		4,837
	181,654		PZ Cussons plc		553
	1,500,927		Reckitt Benckiser Group plc		137,110
	12,608	*,e	Revlon, Inc (Class A)		281
	24,126		Sarantis S.A.		208
	587,791		Shiseido Co Ltd		45,523
	19,219		Spectrum Brands Holdings, Inc		1,436
	6,800		ST Corp		126
	59,980		TCI Co Ltd		964
	3,764	e	Tonymoly Co Ltd		48
	478,636		Uni-Charm Corp		15,836
	2,936,523		Unilever NV		163,344
	1,774,064		Unilever plc		97,457
	123,362	*	USANA Health Sciences, Inc		14,871
	137,000		Vinda International Holdings Ltd		235
	18,363	e	WD-40 Co		3,160
	23,200		YA-MAN Ltd		471
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,712,189
INSURANCE - 3.9%
	159,202		Admiral Group plc		4,316
	2,383,028		Aegon NV		15,467
	416,419		Aflac, Inc		19,601
	40,758		Ageas		2,191
	13,783,006		AIA Group Ltd		122,902
	85,448		Alleghany Corp		55,757
	657,773		Allianz AG.		146,398
	845,124		Allstate Corp		83,414
	131,273		Alm Brand AS		1,121
	61,357	*	AMBAC Financial Group, Inc		1,253
	200,030		American Equity Investment Life Holding Co		7,073

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	82,039		American Financial Group, Inc	$	9,104
	7,029,390		American International Group, Inc		374,245
	3,916		American National Insurance Co		506
	25,604		Amerisafe, Inc		1,586
	146,115	e	Amtrust Financial Services, Inc		2,122
	53,717		Anadolu Hayat Emeklilik AS		58
	114,102		Anadolu Sigorta		82
	9,100	e	Anicom Holdings, Inc		301
	42,573		Aon plc		6,547
	336,538	*	Arch Capital Group Ltd		10,032
	699,831		Argo Group International Holdings Ltd		44,124
	50,590		Arthur J. Gallagher & Co		3,766
	667,627		Aspen Insurance Holdings Ltd		27,907
	387,888		ASR Nederland NV		18,489
	650,198		Assicurazioni Generali S.p.A.		11,196
	67,957		Assurant, Inc		7,336
	50,074		Assured Guaranty Ltd		2,115
	4,230,934	*	Athene Holding Ltd		218,570
	7,182,433		Aviva plc		45,827
	15,619		AvivaSA Emeklilik ve Hayat AS.		30
	2,123,549		AXA S.A.		56,902
	861,979		Axis Capital Holdings Ltd		49,745
	35,337		Bajaj Finserv Ltd		2,931
	12,853		Baloise Holding AG.		1,959
	666,774		BB Seguridade Participacoes S.A.		3,979
	603,198		Beazley plc		4,485
	4,167,733	*	Berkshire Hathaway, Inc (Class B)		892,353
	41,604	*	Brighthouse Financial, Inc		1,841
	387,545		Brown & Brown, Inc		11,460
	14,790,816		Cathay Financial Holding Co Ltd		25,420
	2,345,494		China Insurance International Holdings Co Ltd		8,218
	11,759,990		China Life Insurance Co Ltd		26,726
	2,507,253		China Life Insurance Co Ltd (Taiwan)		2,521
	39,500		China Pacific Insurance Group Co Ltd		204
	3,752,539		China Pacific Insurance Group Co Ltd (Hong Kong)		14,419
	7,457,000		China Reinsurance Group Corp		1,476
	2,034,248		Chubb Ltd		271,857
	51,117		Cincinnati Financial Corp		3,926
	65,488	*,e	Citizens, Inc (Class A)		550
	19,906	*	Clal Insurance		376
	133,704		CNA Financial Corp		6,104
	55,750		CNP Assurances		1,344
	561,033		Conseco, Inc		11,905
	3,630,000	*,†,e,m	Convoy Financial Holdings Ltd		5
	545,688		Corp Mapfre S.A.		1,707
	45,252		Crawford & Co (Class B)		417
	2,595,907		Dai-ichi Mutual Life Insurance Co		54,112
	1,528,975		Direct Line Insurance Group plc		6,454
	349,036		Discovery Holdings Ltd		4,192
	26,794		Donegal Group, Inc (Class A)		381
	52,628		Dongbu Insurance Co Ltd		3,454
	23,437	*	eHealth, Inc		662
	11,942		EMC Insurance Group, Inc		295
	302,271		Employers Holdings, Inc		13,693

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,240	*	Enstar Group Ltd	$	3,386
	28,913		Erie Indemnity Co (Class A)		3,687
	190,037		esure Group plc		687
	33,442		Everest Re Group Ltd		7,641
	43,403		Fairfax Financial Holdings Ltd		23,580
	30,200	e	Fanhua, Inc (ADR)		816
	12,930		FBL Financial Group, Inc (Class A)		973
	20,762		FedNat Holding Co		529
	401,904		First American Financial Corp		20,734
	588,116		FNF Group		23,142
	5,229	e	Fondiaria-Sai S.p.A		12
	1,056,073	*	Genworth Financial, Inc (Class A)		4,404
	177,284		Gjensidige Forsikring BA		2,988
	11,807		Global Indemnity Ltd		445
	10,781	*,e	Goosehead Insurance, Inc		365
	433,579		Great-West Lifeco, Inc		10,520
	41,371	*	Greenlight Capital Re Ltd (Class A)		513
	94,416		Grupo Catalana Occidente S.A.		4,111
	35,406	*	Hallmark Financial Services		389
	69,617		Hannover Rueckversicherung AG.		9,826
	27,665		Hanover Insurance Group, Inc		3,413
	157,718		Hanwha Non-Life Insurance Co Ltd		998
	204,559		Harel Insurance Investments & Finances Ltd		1,572
	1,147,232		Hartford Financial Services Group, Inc		57,316
	653,269	g	Hastings Group Holdings Ltd		2,209
	8,907		HCI Group, Inc		390
	15,789	*,e	Health Insurance Innovations, Inc		973
	5,098		Helvetia Holding AG.		3,105
	28,470	e	Heritage Insurance Holdings, Inc		422
	204,801		Hiscox Ltd		4,389
	55,559		Horace Mann Educators Corp		2,495
	95,747		Hyundai Marine & Fire Insurance Co Ltd		3,619
	18,496		IDI Insurance Co Ltd		1,139
	5,702		Independence Holding Co		205
	92,664		Industrial Alliance Insurance and Financial Services, Inc		3,705
	118,187	g	ING Life Insurance Korea Ltd		3,634
	2,586,760		Insurance Australia Group Ltd		13,675
	162,597		Intact Financial Corp		13,520
	2,024		Investors Title Co		340
	118,200		IRB Brasil Resseguros S		1,945
	101,062		James River Group Holdings Ltd		4,307
	506,800		Japan Post Holdings Co Ltd		6,032
	1,800	e	Japan Post Insurance Co Ltd		43
	766,053		Just Retirement Group plc		883
	97,744		Kemper Corp		7,864
	12,674		Kingstone Cos, Inc		241
	26,335		Kinsale Capital Group, Inc		1,682
	1,756,786		Korea Life Insurance Co Ltd		8,378
	61,884		Korean Reinsurance Co		583
	124,416		Lancashire Holdings Ltd		986
	9,283,316		Legal & General Group plc		31,691
	696,089		Liberty Holdings Ltd		5,552

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	688,976		Lincoln National Corp	$	46,616
	108,590		Loews Corp		5,454
	23,637		Lotte Non-Life Insurance Co Ltd		59
	98,235		Maiden Holdings Ltd		280
	324,688		Manulife Financial Corp		5,805
	3,029,341		Manulife Financial Corp (Toronto)		54,154
	4,533	*	Markel Corp		5,387
	984,120		Marsh & McLennan Cos, Inc		81,406
	113,243	*	Max India Ltd		638
	183,079	*	Max India Ltd (New)		187
	120,258	*,e	MBIA, Inc		1,286
	2,900,133		Medibank Pvt Ltd		6,098
	16,428		Menorah Mivtachim Holdings Ltd		186
	1,117,999		Mercuries & Associates Holding Ltd		873
	583,261	*	Mercuries Life Insurance Co Lt		303
	14,687		Mercury General Corp		737
	303,445		Meritz Fire & Marine Insurance Co Ltd		5,292
	2,366,578		Metlife, Inc		110,567
	833,456		Metropolitan Holdings Ltd		1,022
	238,305		Migdal Insurance Holdings Ltd		264
	395,131		Mirae Asset Life Insurance Co Ltd		1,831
	444,783		Mitsui Sumitomo Insurance Group Holdings, Inc		14,858
	32,675		Muenchener Rueckver AG.		7,217
	120,969		National General Holdings Corp		3,247
	3,079		National Western Life Group, Inc		983
	45,931		Navigators Group, Inc		3,174
	7,500		New China Life Insurance Co Ltd		55
	1,184,382		New China Life insurance Co Ltd (Hong Kong)		5,663
	16,915	*	NI Holdings, Inc		285
	318,923		nib holdings Ltd		1,347
	360,182		NKSJ Holdings, Inc		15,347
	273,080		NN Group NV		12,188
	6,491,749	*,e	Old Mutual Ltd		13,905
	101,485		Old Mutual Ltd (London)		214
	252,012		Old Republic International Corp		5,640
	8,389,288		People’s Insurance Co Group of China Ltd		3,760
	415,837		Phoenix Group Holdings		3,663
	81,474		Phoenix Holdings Ltd		492
	9,051,239		PICC Property & Casualty Co Ltd		10,653
	13,336,976	e	Ping An Insurance Group Co of China Ltd		135,106
	157,600		Ping An Insurance Group Co of China Ltd (Class A)		1,569
	454,574		Porto Seguro S.A.		6,674
	671,244	g	Poste Italiane S.p.A		5,354
	600,183		Power Corp Of Canada		13,038
	690,266		Power Financial Corp		15,813
	605,680		Powszechny Zaklad Ubezpieczen S.A.		6,518
	119,835		Primerica, Inc		14,446
	259,804		Principal Financial Group		15,222
	175,294		ProAssurance Corp		8,230
	1,207,251		Progressive Corp		85,763
	12,481		Protective Insurance Corp		286
	41,618	e	Protector Forsikring ASA		271
	2,327,548		Prudential Financial, Inc		235,827
	5,699,121		Prudential plc		130,670

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	57,256,000	*	PT Panin Insurance Tbk	$	4,206
	273,143,700	*	PT Panin Life Tbk		4,580
	148,344	*	Qatar Insurance Co SAQ		1,548
	1,628,247		QBE Insurance Group Ltd		13,079
	543,400		Qualitas Controladora SAB de C.V.		1,448
	582,232		Rand Merchant Investment Holdings Ltd		1,586
	70,545		Reinsurance Group of America, Inc (Class A)		10,198
	32,613		RenaissanceRe Holdings Ltd		4,356
	52,812		RLI Corp		4,150
	1,013,126		RSA Insurance Group plc		7,591
	177,258	g	Sabre Insurance Group plc		612
	19,592		Safety Insurance Group, Inc		1,755
	728,915		Saga plc		1,241
	1,759,484		Sampo Oyj (A Shares)		91,052
	32,576		Samsung Fire & Marine Insurance Co Ltd		8,340
	71,393		Samsung Life Insurance Co Ltd		6,262
	2,890,474		Sanlam Ltd		16,148
	58,192		SCOR SE		2,698
	78,379		Selective Insurance Group, Inc		4,977
	14,005,779	*	Shin Kong Financial Holding Co Ltd		5,477
	576,000		Shinkong Insurance Co Ltd		763
	93,998		Societa Cattolica di Assicurazioni SCRL		807
	665,592		Sony Financial Holdings, Inc		14,678
	24,118		State Auto Financial Corp		737
	502,464		Steadfast Group Ltd		1,034
	68,145		Stewart Information Services Corp		3,067
	1,477,581		Storebrand ASA		13,201
	962,894		Sul America SA		6,199
	699,614		Sun Life Financial, Inc		27,813
	931,720		Suncorp-Metway Ltd		9,735
	19,145		Swiss Life Holding		7,259
	74,703		Swiss Re Ltd		6,883
	500,000		Syarikat Takaful Malaysia BHD		459
	470,918		T&D Holdings, Inc		7,777
	1,375,873	*	Third Point Reinsurance Ltd		17,886
	36,223		Tiptree Financial, Inc		237
	2,732,681		Tokio Marine Holdings, Inc		135,660
	21,966		Tong Yang Life Insurance		127
	221,216		Topdanmark AS		10,110
	102,023		Torchmark Corp		8,844
	86,679		Travelers Cos, Inc		11,243
	15	*	Trisura Group Ltd		0	^
	116,556	*,e	Trupanion, Inc		4,165
	88,609		Tryg A.S.		2,206
	543,601		Unipol Gruppo Finanziario S.p.A		2,416
	242,831		Uniqa Versicherungen AG.		2,425
	53,948		United Fire & Casualty Co		2,739
	26,504		United Insurance Holdings Corp		593
	65,549		Universal Insurance Holdings, Inc		3,182
	212,029		UnumProvident Corp		8,284
	67,689		W.R. Berkley Corp		5,410
	6,265		White Mountains Insurance Group Ltd		5,863
	112,824		Wiener Staedtische Allgemeine Versicherung AG.		3,220

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	227,914		Willis Towers Watson plc	$	32,122
	43,600		Wiz Solucoes e Corretagem de Seguros S.A.		84
	17,946		Wuestenrot & Wuerttembergische AG.		409
	205,100	*,e,g	ZhongAn Online P&C Insurance Co Ltd		835
	398,854		Zurich Financial Services AG.		125,761
			TOTAL INSURANCE		4,817,023
MATERIALS - 4.9%
	36,321	*,m	A Schulman, Inc		69
	25,983		Aarti Industries		417
	133,561		Acerinox S.A.		1,905
	7,499		Achilles Corp		157
	13,645	m	Acron JSC (GDR)		98
	211,400		ADEKA Corp		3,629
	268,645		Adelaide Brighton Ltd		1,200
	21,687	e	Advanced Emissions Solutions, Inc		259
	18,371		Advanced Metallurgical Group NV		853
	80,063		Advansa Sasa Polyester Sanayi AS		134
	188,521	*	AdvanSix, Inc		6,400
	69,465		Aeci Ltd		514
	130,903		Aekyung Petrochemical Co Ltd		1,233
	127,821	*,e	African Barrick Gold Ltd		221
	739,564		African Rainbow Minerals Ltd		6,725
	158,085		Agnico-Eagle Mines Ltd		5,400
	37,942	*,e	AgroFresh Solutions, Inc		236
	62,900	e	Aichi Steel Corp		2,399
	76,289		Air Liquide		10,018
	175,915		Air Products & Chemicals, Inc		29,387
	40,050		Air Water, Inc		735
	33,115		AK Holdings, Inc		1,827
	424,064	*,e	AK Steel Holding Corp		2,078
	38,692		Akcansa Cimento AS		53
	5,610		Akzo Nobel India Ltd		124
	272,881		Akzo Nobel NV		25,526
	247,061		Alamos Gold, Inc		1,134
	330,702	e	Albemarle Corp		32,997
	367,834	*	Alcoa Corp		14,861
	2,182,913		Alexandria Mineral Oils Co		1,342
	620,750	*	Allegheny Technologies, Inc		18,343
	26,648		Altius Minerals Corp		260
	516,858		Altri SGPS S.A.		4,964
	489,965	*,e	Altura Mining Ltd		83
	1,912,720		Alumina Ltd		3,829
	4,693,445	*,e	Aluminum Corp of China Ltd		2,085
	867,387		Ambuja Cements Ltd		2,677
	1,779,216		Amcor Ltd		17,584
	84,187		American Vanguard Corp		1,515
	3,729,000		AMVIG Holdings Ltd		967
	1,211,785		Anadolu Cam Sanayii AS		661
	244,247	*	Anatolia Minerals Development Ltd		378
	1,600,000		Angang New Steel Co Ltd		1,428
	289,900		Angang Steel Co Ltd		259
	103,865		Anglo American Platinum Ltd		3,396
	1,833,869	e	Anglo American plc (London)		41,025

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	416,768		AngloGold Ashanti Ltd	$	3,601
	1,623,369		Anhui Conch Cement Co Ltd		9,748
	71,700		Anhui Conch Cement Co Ltd (Class A)		383
	1,102,978		Antofagasta plc		12,257
	182,705		APERAM		8,358
	4,288		APL Apollo Tubes Ltd		75
	34,343		Aptargroup, Inc		3,700
	1,038,959		ArcelorMittal		32,256
	25,000	e	ArcelorMittal (ADR)		772
	37,344		Ardagh Group S.A.		623
	340,195		Arkema		42,160
	28,474		Asahi Holdings, Inc		520
	1,542,285		Asahi Kasei Corp		23,384
	686,961		Ashland Global Holdings, Inc		57,609
	1,449,000		Asia Cement China Holdings Corp		1,489
	935		Asia Cement Co Ltd		121
	2,095,024		Asia Cement Corp		2,847
	222,296		Asia Polymer		120
	398,553		Asian Paints Ltd		7,115
	4,515		Atul Ltd		197
	145,571		Aurubis AG.		10,159
	1,051,205		Ausdrill Ltd		1,343
	130,706		Avery Dennison Corp		14,162
	932,713	*	Axalta Coating Systems Ltd		27,198
	639,609	*	B2Gold Corp		1,456
	42,624		Balchem Corp		4,778
	692,778		Ball Corp		30,475
	406,200		Baoshan Iron & Steel Co Ltd		463
	1,129,531		Barrick Gold Corp (Canada)		12,496
	6,466		BASF India Ltd		167
	950,982		BASF SE		84,384
	12,608		Bayer CropScience Ltd		758
	14,462,000		BBMG Corp		4,947
	27,798	e	Bekaert S.A.		691
	42,365		Bemis Co, Inc		2,059
	3,817,215	*	Berry Plastics Group, Inc		184,715
	4,066,775		BHP Billiton Ltd		101,307
	575,767	e	BHP Billiton Ltd (ADR)		28,696
	2,545,649		BHP Billiton plc		55,550
	115,234	e	Billerud AB		1,487
	4,850	*,e	Bio On Spa		320
	11,489		Birla Corp Ltd		101
	860,774		BlueScope Steel Ltd		10,557
	87,700		Boise Cascade Co		3,227
	382,808		Boliden AB		10,646
	1,102,334		Boral Ltd		5,503
	62,756		Borregaard ASA		643
	43,127		Borusan Mannesmann Boru Sanayi		62
	61,973	*	Boryszew S.A.		85
	142,200		Bradespar S.A.		1,305
	181,875		Braskem S.A.		2,632
	173,871		Brickworks Ltd		2,201
	55,778	e	Buzzi Unicem S.p.A.		1,157

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,122		Buzzi Unicem S.p.A. RSP	$	575
	145,312		Cabot Corp		9,114
	385,700		Cahya Mata Sarawak BHD		272
	477,495	*	Canfor Corp		8,902
	162,840		Canfor Pulp Products, Inc		3,084
	46,697		CAP S.A.		470
	119,655		Carpenter Technology Corp		7,054
	186,872		Cascades, Inc		1,824
	258,721		CCL Industries		11,662
	140,382		Celanese Corp (Series A)		16,004
	64,300		Cementir S.p.A.		449
	489,248		Cementos Argos S.A.		1,272
	494,800	*,g	CEMEX Holdings Philippines, Inc		22
	110,281	*	Cemex Latam Holdings S.A.		201
	18,489,778	*	Cemex S.A. de C.V.		12,983
	734,000	*	Cemex SAB de C.V. (ADR)		5,167
	860,964		Centamin plc		1,189
	167,795	*	Centerra Gold, Inc		669
	102,231		Central Asia Metals plc		317
	86,270	*	Century Aluminum Co		1,033
	33,121		Century Plyboards India Ltd		83
	16,187		Century Textile & Industries Ltd		184
	583,445		CF Industries Holdings, Inc		31,763
	219,408		Chambal Fertilizers & Chemicals Ltd		459
	10,104		Chase Corp		1,214
	276,139		Chemours Co		10,891
	3,220,560		Cheng Loong Corp		2,595
	300,000	*,e	Chiho-Tiande Group Ltd		116
	1,072,695		China BlueChemical Ltd		434
	207,029		China General Plastics Corp		173
	50,600		China Hi-ment Corp		93
	1,603,841		China Manmade Fibers Corp		593
	176,112		China Metal Products		178
	858,455	*,†,e,m	China Metal Recycling Holdings Ltd		1
	488,000	*,e,g	China Metal Resources Utilization Ltd		278
	14,248,900	e	China Molybdenum Co Ltd		5,952
	370,000		China Molybdenum Co Ltd (Class A)		245
	9,517,282		China National Building Material Co Ltd		8,440
	181,200		China Northern Rare Earth Group High-Tech Co Ltd		270
	1,612,628	*	China Petrochemical Development Corp		737
	2,874,000		China Resources Cement Holdings Ltd		3,342
	4,653,000		China Sanjiang Fine Chemicals		1,244
	4,114,400	*,†,e,m	China Shanshui Cement Group Ltd		2,297
	1,970,000		China Silver Group Ltd		281
	91,000		China Steel Chemical Corp		433
	13,186,303		China Steel Corp		11,011
	307,698		China Synthetic Rubber Corp		397
	297,000		China XLX Fertiliser Ltd		121
	2,363,200	e	China Zhongwang Holdings Ltd		1,155
	84,351		Christian Hansen Holding		8,552
	37,200	e	Chugoku Marine Paints Ltd		374
	1,659,000	*	Chung Hung Steel Corp		784
	10,540		Chung Hwa Pulp Corp		3
	425,883		Cia de Minas Buenaventura S.A. (ADR) (Series B)		5,711

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	648,948	*	Cia Siderurgica Nacional S.A.	$	1,501
	17,598		Ciech S.A.		226
	143,713		Cimsa Cimento Sanayi Ve Tica		214
	26,569		Clariant AG.		691
	21,508	*	Clearwater Paper Corp		639
	398,263	*,e	Cleveland-Cliffs, Inc		5,042
	447,020	*,e	Coeur Mining, Inc		2,383
	154,444		Commercial Metals Co		3,169
	86,132	*,†,m	Companhia Vale do Rio Doce		0
	45,937	e	Compass Minerals International, Inc		3,087
	76,801	*	Constellium NV		949
	97,629	*,e	Continental Gold, Inc		199
	44,017		Corbion NV		1,432
	85,227		Coromandel International Ltd		475
	26,098	e	Corticeira Amorim SGPS S.A.		348
	210,187	g	Covestro AG.		17,014
	294,000	e	CPMC Holdings Ltd		111
	1,472,107		CRH plc		48,159
	54,179		Croda International plc		3,672
	3,520,094	*	Crown Holdings, Inc		168,965
	351,691		CSR Ltd		958
	1,854,400		D&L Industries Inc		338
	189,199		Daicel Chemical Industries Ltd		2,198
	86,800	e	Daido Steel Co Ltd		4,215
	42,000	e	Daiken Corp		837
	16,071		Dainichiseika Color & Chemicals Manufacturing Co Ltd		523
	103,100		Dainippon Ink and Chemicals, Inc		3,711
	42,572	e	Daio Paper Corp		608
	8,400	e	Daiso Co Ltd		223
	24,702		Dalmia Bharat Ltd		791
	101,002		DCM Shriram Ltd		608
	64,646		Deepak Fertilizers & Petrochemicals Corp Ltd		171
	128,700		Denki Kagaku Kogyo KK		4,486
	130,651	*	Detour Gold Corp		1,056
	54,500		DG Khan Cement Co Ltd		45
	8,103		Dhanuka Agritech Ltd		45
	270,497		Domtar Corp		14,112
	18,919		Dongjin Semichem Co Ltd		168
	41,787		Dongkuk Steel Mill Co Ltd		351
	910,000	e	Dongyue Group		627
	48,700		Dowa Holdings Co Ltd		1,547
	7,251,084		DowDuPont, Inc		466,317
	1,062,017		DS Smith plc		6,615
	307,583		DSM NV		32,577
	6,364	*	Duk San Neolux Co Ltd		90
	321,904		DuluxGroup Ltd		1,784
	127,598		Eagle Materials, Inc		10,876
	675,800		Eastern Polymer Group PCL		184
	307,146		Eastman Chemical Co		29,400
	235,776		Ecolab, Inc		36,965
	11,582	*	Ecopro Co Ltd		446
	112,917		EID Parry India Ltd		310

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,712	*	El Ezz Steel Co	$	88
	521,680	e	Eldorado Gold Corp		456
	293,643		Elementis plc		1,026
	3,899,660		Empresas CMPC S.A.		15,738
	2,388		EMS-Chemie Holding AG.		1,424
	1,117,136		Ence Energia y Celulosa S.A.		11,323
	48,519	*,e	Endeavour Mining Corp		757
	84,984	*,e	Endeavour Silver Corp		195
	343,800		Engro Chemical Pakistan Ltd		863
	958,500		Engro Fertilizers Ltd		583
	27,721		Eramet		2,928
	87,118		Ercros S.A.		506
	4,481,468		Eregli Demir ve Celik Fabrikalari TAS		8,177
	47,124		Essel Propack Ltd		68
	166,290	e	Essentra plc		876
	491,914		Eternal Chemical Co Ltd		427
	226,789		Eugene Corp		1,409
	286,128		Everlight Chemical Industrial Corp		167
	1,778,958		Evolution Mining Ltd		3,411
	92,898		Evonik Industries AG.		3,322
	2,627,052		Evraz plc		19,336
	381,000		Fauji Cement Co Ltd		69
	260,000		Fauji Fertilizer Bin Qasim Ltd		78
	336,300		Fauji Fertilizer Co Ltd		264
	300,050		Feng Hsin Iron & Steel Co		595
	1,770,508		Ferrexpo plc		4,605
	114,075	*	Ferro Corp		2,649
	202,348	*,m	Ferroglobe plc		0
	251,630		Fibria Celulose S.A.		4,705
	17,645		Finolex Industries Ltd		128
	113,218	*,e	First Majestic Silver Corp		643
	3,096,043		First Quantum Minerals Ltd		35,259
	1,368,830		Fletcher Building Ltd		5,937
	77,052	*,e	Flotek Industries, Inc		185
	296,080		FMC Corp		25,812
	30,955	*,e	Foosung Co Ltd		297
	3,822,354		Formosa Chemicals & Fibre Corp		16,018
	9,564,176		Formosa Plastics Corp		36,638
	959,624	g	Forterra plc		3,265
	25,828	*,e	Forterra, Inc		193
	3,408,338		Fortescue Metals Group Ltd		9,658
	98,102	*	Fortuna Silver Mines, Inc		428
	15,500	e	FP Corp		943
	288,533		Franco-Nevada Corp		18,049
	5,466,472		Freeport-McMoRan Copper & Gold, Inc (Class B)		76,093
	200,779		Fresnillo plc		2,145
	11,705		Frutarom Industries Ltd		1,214
	63,668		Fuchs Petrolub AG. (Preference)		3,553
	8,196,200	e	Fufeng Group Ltd		3,982
	30,500	e	Fuji Seal International, Inc		1,080
	10,400		Fujimi, Inc		270
	19,500		Fujimori Kogyo Co Ltd		665
	162,099	e	Furukawa-Sky Aluminum Corp		3,882
	1,483,800		Fushan International Energy Group Ltd		329

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,700	e	Fuso Chemical Co Ltd	$	254
	120,025	*	FutureFuel Corp		2,225
	244,212	*,e	Galaxy Resources Ltd		439
	248,825	*	GCP Applied Technologies, Inc		6,606
	3,355,512		Gerdau S.A. (Preference)		14,283
	2,797		Givaudan S.A.		6,882
	15,193,749		Glencore Xstrata plc		65,495
	240,900		Global Green Chemicals PCL		88
	248,959		Gloria Material Technology Corp		142
	90,400	e	Godo Steel Ltd		1,861
	874,500		Gold Fields Ltd		2,095
	74,400	*	Gold Resource Corp		382
	599,612		Goldcorp, Inc		6,109
	9,571,418		Goldsun Development & Construction Co Ltd		2,918
	2,563,000		Grand Pacific Petrochemical		2,550
	351,412		Granges AB		4,185
	567,919		Graphic Packaging Holding Co		7,957
	490,707	*	Grasim Industries Ltd		6,918
	605,755	*,†,m	Great Basin Gold Ltd		5
	427,000	e	Greatview Aseptic Packaging Co		272
	18,468		Greenply Industries Ltd		40
	7,840		Greif, Inc		452
	113,570		Greif, Inc (Class A)		6,094
	18,799		Groupe Guillin		560
	304,328		Grupo Argos S.A.		1,674
	106,000		Grupo Cementos de Chihuahua SAB de C.V.		696
	4,082,844		Grupo Mexico S.A. de C.V. (Series B)		11,770
	10,837		Gujarat Alkalies & Chemicals Ltd		89
	25,418		Gujarat Flourochemicals		286
	376,776		Gujarat Narmada Valley Fertilizers Co Ltd		1,817
	7,991		Gulf Oil Lubricants India Ltd		81
	228	e	Gurit Holding AG.		191
	124,295	*	Guyana Goldfields, Inc		274
	9,076		H&R GmbH & Co KGaA		82
	111,027		H.B. Fuller Co		5,737
	3,138	*	Hanil Cement Co Ltd		420
	5,630		Hansol Chemical Co Ltd		405
	160,623		Hansol Paper Co Ltd		2,924
	125,745		Hanwha Chemical Corp		2,188
	252,773		Harmony Gold Mining Co Ltd		414
	474	*	Havilah Mining Corp		0	^
	27,574		Hawkins, Inc		1,143
	22,009		Haynes International, Inc		781
	971,248		Hecla Mining Co		2,710
	24,742		HeidelbergCement AG.		1,933
	37,145		HeidelbergCement India Ltd		74
	89,400		Hengli Petrochemical Co Ltd		209
	521,600		Hesteel Co Ltd		247
	191,609		Hexpol AB		2,108
	51,250		Hill & Smith Holdings plc		658
	53,009		Himadri Speciality Chemical Ltd		84
	1,980,611		Hindalco Industries Ltd		6,278
	135,111		Hitachi Chemical Co Ltd		2,749

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	191,649	e	Hitachi Metals Ltd	$	2,373
	573,971	*	Ho Tung Chemical Corp		150
	198,449		Hochschild Mining plc		422
	4,200	e	Hodogaya Chemical Co Ltd		127
	153,829		Hokuetsu Paper Mills Ltd		838
	77,685		Holcim Ltd		3,846
	68,721		Holmen AB		1,787
	18,745		Honam Petrochemical Corp		4,698
	17,360		HSIL Ltd		61
	157,000		Hsin Kuang Steel Co Ltd		232
	388,000		Huabao International Holdings Ltd		208
	15,947		Huchems Fine Chemical Corp		359
	1,038,878		HudBay Minerals, Inc		5,260
	75,710	e	Huhtamaki Oyj		2,425
	566,351		Huntsman Corp		15,422
	1,790	*	Hyosung Advanced Materials Corp		228
	1,298	*	Hyosung Chemical Corp		179
	5,022		Hyosung Corp		217
	87,926		Hyundai Steel Co		4,480
	701,750	*	IAMGOLD Corp		2,581
	264,630	g	Ibstock plc		813
	2,507,043		Iluka Resources Ltd		18,015
	55,282		IMCD Group NV		4,302
	5,069		Imerys S.A.		374
	418,312	*,e	Impala Platinum Holdings Ltd		808
	2,343,857		Incitec Pivot Ltd		6,739
	315,904	e	Independence Group NL		1,064
	94,785		India Cements Ltd		132
	1,497,878		Indorama Ventures PCL (Foreign)		2,733
	174,800	*	Industrias CH SAB de C.V.		720
	221,066	e	Industrias Penoles S.A. de C.V.		3,808
	191,649	*	Ingevity Corp		19,525
	1,390,300		Inner Mongolia BaoTou Steel Union Co Ltd		336
	208,920		Inner Mongolia Eerduosi Resourses Co Ltd		204
	29,544		Innophos Holdings, Inc		1,312
	63,604		Innospec, Inc		4,882
	486,805	*	Interfor Corp		7,206
	180,591		International Flavors & Fragrances, Inc		25,124
	944,548		International Paper Co		46,425
	71,500		International Steels Ltd		52
	37,706		Intertape Polymer Group, Inc		560
	820,168	*	Intrepid Potash, Inc		2,944
	24,700	*	Ishihara Sangyo Kaisha Ltd		379
	275,299		Israel Chemicals Ltd		1,670
	21,181		Israel Corp Ltd		6,799
	362,254	*,e	Ivanhoe Mines Ltd		771
	31,459	*,†,m	Jacana Minerals Ltd		5
	348,519		James Hardie Industries NV		5,279
	53,596	*	Jastrzebska Spolka Weglowa S.A.		964
	12,800		JCU Corp		309
	516,086		JFE Holdings, Inc		11,839
	1,600,445		Jiangxi Copper Co Ltd		1,862
	126,100		Jiangxi Copper Co Ltd (Class A)		265
	59,600		Jiangxi Ganfeng Lithium Co Ltd		282

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,038,000	*,e	Jinchuan Group International Resources Co Ltd	$	141
	410,472		Jindal Saw Ltd		416
	243,362	*	Jindal Steel & Power Ltd		660
	299,449		Jinduicheng Molybdenum Co Ltd		275
	196,882	*,e	Jinshan Gold Mines, Inc		284
	10,540		JK Cement Ltd		112
	18,352		JK Lakshmi Cement Ltd		77
	28,436		Johnson Matthey plc		1,320
	74,479	*	JSL Ltd		55
	9,200	e	JSP Corp		235
	1,179,293		JSR Corp		22,016
	1,445,495		JSW Steel Ltd		7,614
	24,765		K&S AG.		519
	44,178		Kaiser Aluminum Corp		4,818
	40,728	e	Kaneka Corp		1,882
	300,417	e	Kansai Paint Co Ltd		5,537
	28,700	e	Kanto Denka Kogyo Co Ltd		309
	122,197		Kapstone Paper and Packaging Corp		4,144
	168,764	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class A)		81
	1,077,354	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		723
	2,234,968	*	KAZ Minerals plc		15,920
	64,156		Kemira Oyj		864
	275,020	*	KGHM Polska Miedz S.A.		6,631
	18,000		KH Neochem Co Ltd		701
	221,449	*,e	Kidman Resources Ltd		170
	755,329	*	Kinross Gold Corp		2,058
	123,607		Kirkland Lake Gold Ltd		2,343
	17,035		KISCO Corp		103
	4,534		KISWIRE Ltd		108
	713,451		Klabin S.A.		3,514
	1,349,700		Klabin S.A. (Preference)		1,066
	44,585	*,m	Klondex Mines Ltd		124
	116,644		KMG Chemicals, Inc		8,814
	14,500		Koatsu Gas Kogyo Co Ltd		123
	803,886	e	Kobe Steel Ltd		7,144
	10,907		Kolon Industries, Inc		612
	18,600		Konishi Co Ltd		293
	86,532	*	Koppers Holdings, Inc		2,695
	18,531		Korea Kumho Petrochemical		1,645
	19,160		Korea Petrochemical Ind Co Ltd		3,186
	9,510		Korea Zinc Co Ltd		3,737
	10,735	*	Koza Altin Isletmeleri AS		91
	140,895	*	Koza Anadolu Metal Madencilik Isletmeleri AS		150
	41,511	*	Kraton Polymers LLC		1,957
	29,609		Kronos Worldwide, Inc		481
	15,279		Kukdo Chemical Co Ltd		749
	78,633	e	Kumba Iron Ore Ltd		1,782
	127,048		Kumiai Chemical Industry Co Ltd		959
	856,542		Kuraray Co Ltd		12,877
	13,700		Kureha CORP		1,026
	15,600	e	Kyoei Steel Ltd		304

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,633	e	Labrador Iron Ore Royalty Corp	$	1,364
	209,200	*	Lafarge Malayan Cement BHD		139
	551		LafargeHolcim Ltd		27
	708,898		Lanxess AG.		51,855
	1,890,000		Lee & Man Paper Manufacturing Ltd		1,750
	1,563,448		LEE Chang Yung Chem IND Corp		2,657
	9,916		Lenzing AG.		1,036
	48,392		LG Chem Ltd		15,942
	9,384		LG Chem Ltd (Preference)		1,726
	15,603		Linde AG.		3,223
	1,247,589		Linde AG. (Tender)		294,627
	29,800		Lintec Corp		763
	34,236	*,e	Lithium Americas Corp		164
	11,066		Lock & Lock Co Ltd		171
	509,740	*	Loma Negra Cia Industrial Argentina S.A. (ADR)		4,506
	285,220		Long Chen Paper Co Ltd		197
	334	*,e	Lonmin plc		0	^
	1,381,423		Louisiana-Pacific Corp		36,594
	63,144	*,e	LSB Industries, Inc		618
	187,919	e	Lucara Diamond Corp		314
	164,150		Lucky Cement Ltd		679
	476,000		Luks Group Vietnam Holdings Ltd		140
	35,068	*,e	Lundin Gold, Inc		131
	1,501,305		Lundin Mining Corp		7,950
	428,452	*	Lynas Corp Ltd		494
	577,052		LyondellBasell Industries AF S.C.A		59,154
	344,800		Maanshan Iron & Steel Co Ltd		205
	65,144		Madras Cements Ltd		578
	50,241	*	MAG. Silver Corp		406
	18,160		Magnesita Refratarios S.A.		319
	45,180	*	Major Drilling Group International		170
	167,400		Maple Leaf Cement Factory Ltd		64
	52,912	*	Marrone Bio Innovations, Inc		97
	126,051		Marshalls plc		681
	9,879		Martin Marietta Materials, Inc		1,797
	46,272	e	Maruichi Steel Tube Ltd		1,509
	26,892		Materion Corp		1,627
	446,100		Metalurgica Gerdau S.A.		881
	152,552		Methanex Corp		12,042
	1,828,043		Mexichem SAB de C.V.		6,287
	100,971		Mineral Resources Ltd		1,160
	94,117		Minerals Technologies, Inc		6,362
	8,067		Miquel y Costas & Miquel S.A.		298
	31,793		Misr Fertilizers Production Co SAE		151
	1,939,199		Mitsubishi Chemical Holdings Corp		18,559
	274,078		Mitsubishi Gas Chemical Co, Inc		5,835
	108,110		Mitsubishi Materials Corp		3,230
	8,800	e	Mitsubishi Steel Manufacturing Co Ltd		169
	281,037		Mitsui Chemicals, Inc		7,027
	36,300		Mitsui Mining & Smelting Co Ltd		1,051
	529,250		MMC Norilsk Nickel PJSC (ADR)		9,140
	101,772		MMC Norilsk Nickel PJSC (ADR)		1,749
	2,852,000	*	MMG Ltd		1,468
	42,210		MOIL Ltd		94

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	125,261		Mondi Ltd	$	3,440
	347,330		Mondi plc		9,510
	12,981	*,†,m	Mongolian Metals Corporation		0
	2,065		Monsanto India Ltd		75
	97,305		Mosaic Co		3,160
	169,872	e	Mountain Province Diamonds, Inc		358
	284,668		Mpact Ltd		478
	163,598		M-real Oyj (B Shares)		1,653
	178,987		Myers Industries, Inc		4,161
	72,773		Mytilineos Holdings S.A.		723
	84,300		Nakayama Steel Works Ltd		541
	12,799		Namhae Chemical Corp		159
	421,453	*	Nampak Ltd		457
	12,109,071		Nan Ya Plastics Corp		33,619
	171,275		Nantex Industry Co Ltd		165
	1,732,938		National Aluminium Co Ltd		1,450
	22,493		Neenah Paper, Inc		1,941
	422,002	*,e	Nemaska Lithium, Inc		245
	28,581		Neo Performance Materials, Inc		398
	19,900		Neturen Co Ltd		204
	196,654		Nevsun Resources Ltd		872
	379,404	*,e	New Gold, Inc		300
	979,924		Newcrest Mining Ltd		13,760
	3,130		NewMarket Corp		1,269
	1,262,276		Newmont Mining Corp		38,121
	897,850		Nickel Asia Corp		73
	26,900	e	Nihon Nohyaku Co Ltd		189
	56,200		Nihon Parkerizing Co Ltd		760
	1,842,902		Nine Dragons Paper Holdings Ltd		1,987
	76,400	e	Nippon Denko Co Ltd		199
	136,700	e	Nippon Kayaku Co Ltd		1,626
	570,500		Nippon Light Metal Holdings Co Ltd		1,275
	149,532		Nippon Paint Co Ltd		5,581
	98,900		Nippon Paper Industries Co Ltd		1,820
	17,200		Nippon Shokubai Co Ltd		1,336
	15,200		Nippon Soda Co Ltd		468
	988,146		Nippon Steel Corp		20,902
	9,700	*	Nippon Valqua Industries Ltd		272
	111,361		Nissan Chemical Industries Ltd		5,882
	39,000	e	Nisshin Steel Holdings Co Ltd		585
	4,100		Nittetsu Mining Co Ltd		197
	122,363		Nitto Denko Corp		9,174
	42,360		NOF Corp		1,430
	375,387		Norbord, Inc		12,439
	1,299,047		Norsk Hydro ASA		7,790
	7,190,000	*,e	North Mining Shares Co Ltd		34
	213,503	*	Northam Platinum Ltd		606
	463,327		Northern Star Resources Ltd		2,782
	180,359	*,e	Novagold Resources, Inc		666
	7,659		Novolipetsk Steel (GDR)		206
	181,431	*	Novolipetsk Steel PJSC (GDR)		4,890
	206,196		Novozymes AS		11,310
	823,782		Nucor Corp		52,269

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	326,857	m	Nufarm Ltd	$	1,577
	335,258		Nutrien Ltd		19,344
	778,646	e	Nutrien Ltd (Toronto)		44,959
	61,042	*,e	Nyrstar NV		145
	791,465		OceanaGold Corp		2,390
	21,424		OCI Co Ltd		2,124
	48,514	*	OCI NV		1,551
	15,575		Oeneo S.A.		201
	844,148		OJI Paper Co Ltd		6,130
	6,800		Okamoto Industries, Inc		371
	6,957,062		Olin Corp		178,657
	12,738		Olympic Steel, Inc		266
	40,198		Omnia Holdings Ltd		360
	111,874	*	Omnova Solutions, Inc		1,102
	266,311		Orica Ltd		3,276
	34,145		Orient Cement Ltd		44
	4,452,000		Oriental Union Chemical Corp		4,964
	744,125	*,e	Orocobre Ltd		2,270
	784,285		Orora Ltd		1,881
	7,600	e	Osaka Steel Co Ltd		147
	74,445	e	Osisko Gold Royalties Ltd		565
	107,729	*,e	Osisko Mining, Inc		196
	197,834		Outokumpu Oyj		1,160
	365,925	*	Owens-Illinois, Inc		6,876
	1,266,389		Oxiana Ltd		8,537
	10,750	*,e	Pacific Metals Co Ltd		400
	7,000		Pack Corp		259
	24,750		Packages Ltd		89
	355,726		Packaging Corp of America		39,020
	139,155		Pact Group Holdings Ltd		374
	118,514		Pan American Silver Corp		1,747
	117,959		Papeles y Cartones de Europa S.A.		2,286
	1,059,032		Petkim Petrokimya Holding		937
	521,141	*,e	Petra Diamonds Ltd		257
	11,042,616		Petronas Chemicals Group BHD		24,973
	58,402		PH Glatfelter Co		1,116
	25,977		Phillips Carbon Black Ltd		74
	121,220		PhosAgro PJSC (GDR)		1,646
	33,122		PI Industries Ltd		325
	140,890	*	Pidilite Industries Ltd		2,033
	938,804	*,e	Pilbara Minerals Ltd		610
	34,453	e	Plastivaloire		500
	383,585	*	Platform Specialty Products Corp		4,783
	197,383		PolyOne Corp		8,630
	44,749		Polyus PJSC (GDR)		1,405
	3,197	*	Polyus PJSC (GDR)		100
	2,528		Poongsan		95
	129,831		Poongsan Corp		3,716
	509,852		Portucel Empresa Produtora de Pasta e Papel S.A.		2,498
	114,824		POSCO		30,480
	12,722		POSCO Refractories & Environment Co Ltd		837
	960,670	*	PPC Ltd		438
	225,717		PPG Industries, Inc		24,633
	49,940	*	PQ Group Holdings, Inc		872

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,240,438		Praxair, Inc	$	199,376
	113,949	*	Premier Gold Mines Ltd		154
	1,655,500		Press Metal BHD		1,943
	104,114	*,e	Pretium Resources, Inc		792
	76,163		Prism Cement Ltd		92
	5,227,704		PT Aneka Tambang Tbk		296
	4,125,300		PT Indah Kiat Pulp and Paper Corp Tbk		4,800
	1,932,943		PT Indocement Tunggal Prakarsa Tbk		2,399
	3,128,398	*	PT Krakatau Steel Tbk		84
	8,218,300	*,†,m	PT Sekawan Intipratama Tbk		0	^
	2,794,538		PT Semen Gresik Persero Tbk		1,860
	1,925,057		PT Timah Tbk		96
	3,608,300		PT Waskita Beton Precast Tbk		87
	2,547,977		PTT Global Chemical PCL (Foreign)		6,403
	11,290		Qatar National Cement Co		173
	160,400	*	Qinghai Salt Lake Industry Co Ltd		212
	17,616		Quaker Chemical Corp		3,562
	264,380	*,†,e,m	Quintis Ltd		2
	489,424		Rain Commodities Ltd		1,104
	31,833		Rallis India Ltd		80
	2,425	*,e	Ramaco Resources, Inc		18
	90,825		Randgold Resources Ltd		6,424
	220,432	e	Rayonier Advanced Materials, Inc		4,063
	87,066		Recticel S.A.		956
	1,062,076		Regis Resources Ltd		2,857
	180,075		Reliance Steel & Aluminum Co		15,359
	1,370,267		Rengo Co Ltd		11,685
	481,643		Resolute Mining Ltd		379
	17,021	e	Rhi Magnesita NV		1,040
	746,237		Rio Tinto Ltd		42,440
	2,117,315		Rio Tinto plc		106,801
	154,100		Rongsheng Petro Chemical Co Ltd		251
	40,749	*	Royal Bafokeng Platinum Ltd		74
	190,456		Royal Gold, Inc		14,677
	2,027,121		RPC Group plc		20,993
	52,987		RPM International, Inc		3,441
	70,879	*	Ryerson Holding Corp		801
	12,907		Sa des Ciments Vicat		786
	8,800	e	Sakai Chemical Industry Co Ltd		217
	27,600		Sakata INX Corp		350
	266,472		Salzgitter AG.		13,295
	12,753		Samsung Fine Chemicals Co Ltd		597
	327,651		San Fang Chemical Industry Co Ltd		291
	1,158,850		Sandfire Resources NL		6,217
	113,923	*,e	Sandstorm Gold Ltd		424
	32,808		Sanyo Chemical Industries Ltd		1,672
	142,400	e	Sanyo Special Steel Co Ltd		3,474
	522,346		Sappi Ltd		3,277
	1,348,224	*	Saracen Mineral Holdings Ltd		1,819
	200,300		Satipel Industrial S.A.		448
	87,798		Scapa Group plc		516
	1,191,561	*,e	Schmolz + Bickenbach AG.		940
	152,988		Schnitzer Steel Industries, Inc (Class A)		4,138

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,391		Schweitzer-Mauduit International, Inc	$	1,586
	139,200		Scientex BHD		299
	74,491	e	Scotts Miracle-Gro Co (Class A)		5,865
	24,966	*,e	Seabridge Gold, Inc		323
	57,295		Seah Besteel Corp		1,007
	15,701	m	SeAH Steel Corp		970
	244,715		Sealed Air Corp		9,825
	877,400	e	Sekisui Plastics Co Ltd		8,523
	209,822	*	SEMAFO, Inc		494
	82,047		Semapa-Sociedade de Investimento e Gestao		1,631
	56,946		Sensient Technologies Corp		4,357
	2,789,841	*	Sesa Sterlite Ltd		8,943
	260,314		Severstal (GDR)		4,334
	402,418		Severstal (GDR) (Equiduct)		6,702
	12,613	g	SH Kelkar & Co Ltd		36
	58,800		Shandong Gold Mining Co Ltd		202
	1,263,000		Shanghai Chlor-Alkali Chemical Co Ltd		834
	11,920		Sharda Cropchem Ltd		54
	346,100		Shenzhen Zhongjin Lingnan Nonfemet Co Ltd		230
	88,159		Sherwin-Williams Co		40,131
	22,600		Shikoku Chemicals Corp		314
	8,649	*	Shine Co Ltd		214
	605,032		Shin-Etsu Chemical Co Ltd		53,490
	145,800		Shin-Etsu Polymer Co Ltd		1,197
	517,032		Shinkong Synthetic Fibers Corp		212
	162,400		Showa Denko KK		8,958
	9,482		Shree Cement Ltd		2,211
	294,600		Siam Cement PCL (ADR)		4,066
	495,325		Siam Cement PCL (Foreign)		7,196
	1,094,556	*,e	Sibanye Gold Ltd		665
	443,439		Sidi Kerir Petrochemcials Co		539
	20,099		Sika AG.		2,925
	187,135		Silgan Holdings, Inc		5,202
	796,000	*,e	Silver Grant International		178
	400,636	e	Silvercorp Metals, Inc		980
	118,908		Sims Group Ltd		1,087
	1,206,000	*	Sinofert Holdings Ltd		156
	3,390,674		Sinopec Shanghai Petrochemical Co Ltd		2,068
	267,500		Sinopec Shanghai Petrochemical Co Ltd (Class A)		228
	2,670,403	*,e	Sirius Minerals plc		972
	7,372		SK Chemicals Co Ltd		223
	5,340	*	SK Chemicals Co Ltd (New)		410
	84,980		SKC Co Ltd		3,267
	9,013		SKCKOLONPI, Inc		382
	278,620		Smurfit Kappa Group plc		11,027
	118,749		Sociedad Quimica y Minera de Chile S.A. (Class B)		5,451
	4,736,105		Soda Sanayii AS		5,435
	3,319		SODIFF Advanced Materials Co Ltd		546
	458,019	*,e	SolGold plc		219
	305,185		Solvay S.A.		40,911
	8,327		Songwon Industrial Co Ltd		186
	61,436		Sonoco Products Co		3,410
	4,569,085		South32 Ltd		12,841
	6,561		South32 Ltd (W/I)		18

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	255,208		Southern Copper Corp (NY)	$	11,010
	134,503	e	Ssab Svenskt Stal AB (Series A)		675
	559,205		Ssab Svenskt Stal AB (Series B)		2,266
	475,904		Ssangyong Cement Industrial Co Ltd		2,767
	78,079	*	SSR Mining, Inc		679
	3,112,090		St Barbara Ltd		7,856
	1,386		Stalprodukt S.A.		140
	1,044,899		Steel Dynamics, Inc		47,219
	62,005		Stelco Holdings, Inc		1,034
	7,000	e	Stella Chemifa Corp		256
	30,796	e	Stella-Jones, Inc		1,031
	49,392		Stepan Co		4,298
	4,288		STO AG.		458
	1,240,644		Stora Enso Oyj (R Shares)		23,692
	322,506	*,e	Stornoway Diamond Corp		97
	127,444		Sumitomo Bakelite Co Ltd		5,733
	2,208,111		Sumitomo Chemical Co Ltd		12,923
	337,418		Sumitomo Metal Mining Co Ltd		11,831
	47,419	e	Sumitomo Osaka Cement Co Ltd		1,966
	6,800		Sumitomo Seika Chemicals Co Ltd		382
	11,512	e	Sumitomo Titanium Corp		184
	148,912	*	Summit Materials, Inc		2,707
	481,358	*	SunCoke Energy, Inc		5,593
	73,768		Supreme Industries Ltd		1,024
	454,388		Suzano Papel e Celulose S.A.		5,410
	504,615		Svenska Cellulosa AB (B Shares)		5,707
	39,000		Swancor Ind Co Ltd		99
	22,116		Symrise AG.		2,017
	9,616		Synalloy Corp		220
	213,259	*,e	Syrah Resources Ltd		354
	15,300		T Hasegawa Co Ltd		317
	141,000		Ta Ann Holdings BHD		91
	2,269,010		TA Chen Stainless Pipe		3,974
	250		Taekwang Industrial Co Ltd		376
	419,026	*	Tahoe Resources, Inc		1,169
	206,867	*	Tahoe Resources, Inc (Toronto)		572
	99,730		Taiheiyo Cement Corp		3,128
	4,163,200		Taiwan Cement Corp		5,602
	542,000		Taiwan Fertilizer Co Ltd		825
	163,725		Taiwan Hon Chuan Enterprise Co Ltd		274
	3,306,329		Taiwan Styrene Monomer		2,625
	11,300		Taiyo Ink Manufacturing Co Ltd		436
	39,133		Taiyo Nippon Sanso Corp		586
	30,900		Takasago International Corp		1,131
	166,100		Takiron Co Ltd		908
	7,900	*,e	Tanaka Chemical Corp		98
	963,353		Tata Steel Ltd		7,727
	11,200	e	Tayca Corp		266
	5,742		Technosemichem Co Ltd		311
	1,217,750		Teck Cominco Ltd		29,349
	1,118,337		Teijin Ltd		21,448
	10,000		Tenma Corp		178
	16,228	*	Tessenderlo Chemie NV		603

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,219,356		ThyssenKrupp AG.	$	106,439
	586,000	e	Tiangong International Co Ltd		130
	36,400		Tianqi Lithium Corp		201
	24,395	e	Tikkurila Oyj		382
	64,471		Time Technoplast Ltd		114
	56,329	*,e	TimkenSteel Corp		838
	34,972		Titan Cement Co S.A.		870
	21,741	*,e	TMAC Resources, Inc		79
	68,600		Toagosei Co Ltd		792
	22,500	e	Toho Titanium Co Ltd		271
	16,600		Toho Zinc Co Ltd		658
	246,400	e	Tokai Carbon Co Ltd		4,833
	5,500		Tokushu Tokai Holdings Co Ltd		231
	57,400		Tokuyama Corp		1,561
	22,000		Tokyo Ohka Kogyo Co Ltd		653
	72,000	e	Tokyo Steel Manufacturing Co Ltd		527
	489,750		Ton Yi Industrial Corp		229
	80,511	b	Tong Yang Major Corp		142
	1,092,000	*	Tongfang Kontafarma Holdings Ltd		51
	794,600		Tongling Nonferrous Metals Group Co Ltd		253
	18,911		Tongyang Cement & Energy Corp		73
	25,200		Topy Industries Ltd		742
	446,871		Toray Industries, Inc		3,353
	59,493	*	Torex Gold Resources, Inc		505
	486,672		Tosoh Corp		7,496
	25,100		Toyo Ink Manufacturing Co Ltd		665
	124,407		Toyo Seikan Kaisha Ltd		2,582
	689,967		Toyobo Co Ltd		11,708
	3,316,700		TPI Polene PCL		189
	28,086	*	Trecora Resources		393
	36,374		Tredegar Corp		788
	435,325	*,e	Trevali Mining Corp		246
	171,190		Trinseo S.A.		13,404
	9,706,950	a,n	Tronox Ltd		115,998
	424,000		TSRC Corp		471
	73,681	*	Tubacex S.A.		272
	588,000		Tung Ho Steel Enterprise Corp		456
	822,501	*	Turquoise Hill Resources Ltd		1,751
	463,064		UBE Industries Ltd		12,598
	15,266		Uflex Ltd		61
	9,181	*	UFP Technologies, Inc		337
	118,875	*	Ultra Tech Cement Ltd		6,661
	212,072	e	Umicore S.A.		11,846
	3,252		Unid Co Ltd		133
	559,037	*	United Phosphorus Ltd		5,125
	3,036		United States Lime & Minerals, Inc		240
	358,150		United States Steel Corp		10,916
	290,676		Universal Cement Corp		192
	22,781	*	Universal Stainless & Alloy		581
	7,519,062		UPC Technology Corp		3,767
	908,722		UPM-Kymmene Oyj		35,639
	21,461	*,e	US Concrete, Inc		984
	393,655		USI Corp		180
	4,400,345		Vale S.A.		65,179

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	182,434		Valhi, Inc	$	416
	166,803		Valvoline, Inc		3,588
	200,690	*	Verso Corp		6,757
	202,697		Victrex plc		8,814
	7,736		Vinati Organics Ltd		128
	3,525,600		Vinythai PCL (Foreign)		2,693
	159,546		Voestalpine AG.		7,288
	1,571,502		Volcan Cia Minera S.A.		366
	60,291		Vulcan Materials Co		6,704
	57,821	e	Warrior Met Coal, Inc		1,563
	35,975		Welspun-Gujarat Stahl Ltd		62
	11,486,000		West China Cement Ltd		2,156
	179,630	e	West Fraser Timber Co Ltd		10,223
	160,012		Western Areas NL		308
	1,022,035		Western Forest Products, Inc		1,670
	202,510	*	Westgold Resources Ltd		186
	154,592		Westlake Chemical Corp		12,848
	662,192		WestRock Co		35,388
	805,062		Wheaton Precious Metals Corp		14,086
	3,434,646		Wienerberger AG.		85,863
	20,660		Winpak Ltd		762
	4,232	*	Wonik Materials Co Ltd		113
	77,688	*	Worthington Industries, Inc		3,369
	1,474,523		WR Grace and Co		105,369
	23,400	e	W-Scope Corp		234
	265,000	*	Xinjiang Xinxin Mining Industry Co Ltd		29
	798,301		Yamana Gold, Inc		1,990
	26,100		Yamato Kogyo Co Ltd		809
	789,487		Yara International ASA		38,747
	68,573		Yeong Guan Energy Technology Group Co Ltd		120
	1,958,100		Yeun Chyang Industrial Co Ltd		1,690
	636,157		Yieh Phui Enterprise		219
	75,800	e	Yodogawa Steel Works Ltd		1,875
	4,463		Youlchon Chemical Co Ltd		53
	246		Young Poong Corp		171
	231,000	*,e	Youyuan International Holdings Ltd		82
	672,285		Yuen Foong Yu Paper Manufacturing Co Ltd		274
	541,470		Yule Catto & Co plc		3,817
	46,000		Yung Chi Paint & Varnish Manufacturing Co Ltd		120
	56,783		Zaklady Azotowe w Tarnowie-Moscicach S.A.		486
	252,112		Zeon Corp		2,654
	1,440,000	e	Zhaojin Mining Industry Co Ltd		1,113
	36,335		Zhejiang Huayou Cobalt Co Ltd		281
	157,700		Zhejiang Longsheng Group Co Ltd		224
	150,600		Zhongjin Gold Corp Ltd		149
	17,240		Zignago Vetro S.p.A.		171
	6,754,731		Zijin Mining Group Co Ltd		2,595
	477,200		Zijin Mining Group Co Ltd (Class A)		248
			TOTAL MATERIALS		6,096,213
MEDIA - 2.0%
	2,800		ABB ASEA Brown Boveri Ltd		91
	1,200,000		ABS-CBN Holdings Corp (ADR)		426

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,517,467	*,e	Alibaba Pictures Group Ltd	$	1,850
	1,590	*	Altice NV (Class A)		4
	530	*	Altice NV (Class B)		1
	458		Altice USA, Inc		8
	356,167	e	AMC Entertainment Holdings, Inc		7,301
	310,936	*,e	AMC Networks, Inc		20,628
	6,600		Amuse, Inc		188
	351,030	e	Antena 3 de Television S.A.		2,179
	876		APG SGA S.A.		312
	127,497		APN Outdoor Group Ltd		613
	94,932	*	Arnoldo Mondadori Editore S.p.A.		164
	449,415		Ascential plc		2,449
	7,063,500	e	Asian Pay Television Trust		1,681
	601,570		Astro Malaysia Holdings BHD		214
	22,559		Avex Group Holdings, Inc		322
	45,796		Axel Springer AG.		3,079
	8,675		Beasley Broadcasting Group, Inc		60
	675,900		BEC World PCL (Foreign)		145
	1,309,093		Borussia Dortmund GmbH & Co KGaA		11,650
	7,330	*,e	Boston Omaha Corp		219
	1,612		Cable One, Inc		1,424
	48,697	e	Cairo Communication S.p.A.		176
	2,737,011		CBS Corp (Class B)		157,241
	21,005	*	Central European Media Enterprises Ltd (Class A)		76
	123,134	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		462
	312,784	*	Charter Communications, Inc		101,930
	65,484		Cheil Communications, Inc		1,279
	161,865	*,†,m	Chennai Super Kings Cricket Ltd		5
	237,505		Cinemark Holdings, Inc		9,548
	67,446	e	Cineplex Galaxy Income Fund		1,828
	907,034		Cineworld Group plc		3,727
	8,799		CJ CGV Co Ltd		412
	16,697		CJ Hellovision Co Ltd		154
	111,260		Clear Channel Outdoor Holdings, Inc (Class A)		662
	31,358		Cogeco Communications, Inc		1,571
	31,768		Cogeco, Inc		1,433
	17,393,808		Comcast Corp (Class A)		615,915
	112,180		Corus Entertainment, Inc		364
	37,487		CTS Eventim AG.		1,681
	141,900		CyberAgent, Inc		7,551
	248,131	*	Cyfrowy Polsat S.A.		1,496
	26,000		Daiichikosho Co Ltd		1,254
	1,718	*,e	Daily Journal Corp		414
	218,828		Daily Mail & General Trust		2,002
	124,148		Dentsu, Inc		5,766
	8,040,000	*,e	Digital Domain Holdings Ltd		110
	54,069	*,e	Discovery, Inc (Class A)		1,730
	116,641	*	Discovery, Inc (Class C)		3,450
	727,228	*	DISH Network Corp (Class A)		26,006
	211,284		Emerald Expositions Events, Inc		3,482
	172,502	e	Entercom Communications Corp (Class A)		1,363
	1,400,410		Entertainment One Ltd		7,541
	400,129		Entravision Communications Corp (Class A)		1,961

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	72,395	*,e	Eros International plc	$	872
	151,212		Eutelsat Communications		3,572
	58,928		EW Scripps Co (Class A)		972
	107,987	*,e	Fluent, Inc		232
	354,000		Fuji Television Network, Inc		6,301
	152,464		Gannett Co, Inc		1,526
	178,131	*	GCI Liberty, Inc		9,085
	634,752		Gestevision Telecinco S.A.		4,621
	108,061	*	Gray Television, Inc		1,891
	3,556,027		Grupo Televisa S.A.		12,644
	155,797		Hakuhodo DY Holdings, Inc		2,736
	26,472	*	Hemisphere Media Group, Inc		369
	187,922	e	HT&E Ltd		407
	770,000	*,e	Huanxi Media Group Ltd		166
	29,414		Hyundai Hy Communications & Network Co		111
	300,678	*	IBN18 Broadcast Ltd		146
	542,803	*,e	I-Cable Communications Ltd		12
	82,300	e,g	IMAX China Holding, Inc		209
	566,384	*	Imax Corp		14,613
	1,248,590		Informa plc		12,402
	5,275		Innocean Worldwide, Inc		278
	32,283	*	Inox Leisure Ltd		96
	1,981,919		Interpublic Group of Cos, Inc		45,327
	84,347		IPSOS		2,583
	493,824		ITE Group plc		463
	5,496,452		ITV plc		11,281
	119,393		Jagran Prakashan Ltd		188
	127,768		JC Decaux S.A.		4,673
	36,179	*	Jcontentree Corp		213
	1,453,804		John Fairfax Holdings Ltd		865
	21,794		John Wiley & Sons, Inc (Class A)		1,321
	262,771	*,e	Juventus Football Club S.p.A.		446
	20,867	*	JYP Entertainment Corp		697
	70		Kabel Deutschland Holding AG.		9
	121,332		Kadokawa Dwango Corp		1,329
	9,796		Kinepolis Group NV		586
	47,858		KT Skylife Co Ltd		604
	76,101		Lagardere S.C.A.		2,344
	14,722	*	Liberty Braves Group (Class A)		402
	107,254	*	Liberty Braves Group (Class C)		2,923
	50,014	*	Liberty Broadband Corp (Class A)		4,218
	184,595	*	Liberty Broadband Corp (Class C)		15,561
	1,913	*	Liberty Global plc		54
	194,001	*	Liberty Global plc (Class A)		5,612
	256,714	*	Liberty Latin America Ltd		5,296
	82,017	*	Liberty Latin America Ltd (Class A)		1,709
	41,100	*	Liberty Media Group (Class A)		1,462
	366,938	*	Liberty Media Group (Class C)		13,646
	155,049	*	Liberty SiriusXM Group (Class A)		6,735
	346,979	*	Liberty SiriusXM Group (Class C)		15,076
	146,320	e	Lions Gate Entertainment Corp (Class A)		3,569
	209,196	e	Lions Gate Entertainment Corp (Class B)		4,874
	254,264	*	Live Nation, Inc		13,850

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,993	*,e	LiveXLive Media, Inc	$	55
	17,713	*	Loral Space & Communications, Inc		804
	71,568		M6-Metropole Television		1,443
	23,600		Macromill, Inc		499
	46,220	*	Madison Square Garden Co		14,574
	295,300		Major Cineplex Group PCL (Foreign)		225
	79,789		Marcus Corp		3,355
	604,176	*	MDC Partners, Inc		2,507
	231,167	*	Mediaset S.p.A.		721
	53,050	e	Meredith Corp		2,708
	50,979		Modern Times Group AB (B Shares)		1,869
	1,008,600		Mono Technology PCL		71
	80,547	*	MSG Networks, Inc		2,078
	246,200		Multiplus S.A.		1,486
	2,573		Nasmedia Co Ltd		94
	767,078		Naspers Ltd (N Shares)		165,189
	100,960		National CineMedia, Inc		1,069
	39,454		Navneet Publications India		61
	165,604		New Media Investment Group, Inc		2,598
	174,420		New York Times Co (Class A)		4,038
	198,574		News Corp		2,619
	56,586		News Corp (Class B)		770
	59,566		Nexstar Broadcasting Group, Inc (Class A)		4,849
	32,400	e	Next Co Ltd		180
	5,583,291	e	Nine Entertainment Co Holdings Ltd		9,100
	163,158		Omnicom Group, Inc		11,098
	454,326		oOh!media Ltd		1,683
	693,333		Pearson plc		8,026
	1,012,000		Phoenix Media Investment Holdings Ltd		88
	661,900		Plan B Media PCL		142
	65,900	e	Poly Culture Group Corp Ltd		83
	33,450	*	PR Times, Inc		927
	609,599	*,e	Promotora de Informaciones S.A.		1,373
	448,167		ProSiebenSat. Media AG.		11,611
	7,500		Proto Corp		106
	14,785,000	*	PT Bhakti Investama Tbk		86
	4,386,400		PT Global MediaCom Tbk		119
	3,819,100		PT Media Nusantara Citra Tbk		206
	371,074		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		2,223
	4,860,436		PT Surya Citra Media Tbk		611
	6,759,400	*	PT Visi Media Asia Tbk		63
	49,513		Publicis Groupe S.A.		2,957
	7,249		PVR Ltd		120
	571,063		Quebecor, Inc		11,451
	60,158	g	RAI Way S.p.A		306
	369	*	RCS MediaGroup S.p.A.		0	^
	20,513	*	Reading International, Inc		324
	2,146,295	*	RELX plc		45,092
	1,297,050		RELX plc (London)		27,286
	284,300		RS PCL		187
	11,436		RTL Group		816
	5,107		Saga Communications, Inc		185
	237,735		Sanoma-WSOY Oyj		2,339

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	34,154		SBS Media Holdings Co Ltd	$	79
	88,925		Schibsted ASA (B Shares)		3,091
	37,537		Scholastic Corp		1,753
	58,400	e	Septeni Holdings Co Ltd		91
	322,900		SES Global S.A.		7,086
	50,570		Shanghai Oriental Pearl Group Co Ltd		74
	359,428		Shaw Communications, Inc (B Shares)		7,004
	5,800	e	Shochiku Co Ltd		709
	20,740		SHOWBOX Corp		84
	97,519		Sinclair Broadcast Group, Inc (Class A)		2,765
	821,164	e	Singapore Press Holdings Ltd		1,724
	2,381,397	e	Sirius XM Holdings, Inc		15,050
	1,133,910		Sky Network Television Ltd		1,651
	265,600	e	Sky Perfect Jsat Corp		1,281
	1,545,669		Sky plc		34,833
	11,622	*	SM Entertainment Co		529
	617,600	†,e,m	SMI Holdings Group Ltd		185
	62,600		Smiles Fidelidade S.A.		713
	27,366		Societe Television Francaise 1		289
	2,193,710	*	Solocal Group		2,547
	499,186		Southern Cross Media Group		465
	19,695	*	Storytel AB		274
	17,636		Stroer Out-of-Home Media AG.		1,008
	1,739,600		T4F Entretenimento S.A.		3,088
	287,265		TEGNA, Inc		3,436
	7,723	*,e	Telenet Group Holding NV		426
	215,343		Television Broadcasts Ltd		612
	268,082	e	Thomson		321
	15,600		Toei Animation Co Ltd		484
	96,188		Toei Co Ltd		11,561
	101,105		Toho Co Ltd		3,176
	124,900		Tohokushinsha Film Corp		725
	22,700		Tokyo Broadcasting System, Inc		473
	297,017		Tribune Co		11,414
	77,519	*	tronc, Inc		1,266
	14,000		TV Asahi Corp		269
	837,100	e	TV Azteca S.A. de C.V.		102
	2,561,073		Twenty-First Century Fox, Inc		118,655
	1,035,672		Twenty-First Century Fox, Inc (Class B)		47,455
	19,500		Vector, Inc		460
	1,185,600		VGI Global Media PCL		291
	17,819	e	Viacom, Inc		651
	2,018,241		Viacom, Inc (Class B)		68,136
	56,131	*	Village Roadshow Ltd		101
	1,813,600	*	Viva China Holdings Ltd		208
	998,760		Vivendi Universal S.A.		25,685
	3,969,245	e	Walt Disney Co		464,163
	4,826,159		West Australian Newspapers Holdings Ltd		3,483
	44,049	*,e	WideOpenWest, Inc		494
	123,600		Workpoint Entertainment PCL		158
	381,819	e	World Wrestling Entertainment, Inc (Class A)		36,933
	14,500		Wowow, Inc		465
	216,120		WPP AUNZ Ltd		134

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,247,835		WPP plc	$	32,919
	6,182	e	YG Entertainment, Inc		246
	827,741	*	Zee Entertainment Enterprises Ltd		657
	720,059		ZEE Telefilms Ltd		4,360
	21,750		Zenrin Co Ltd		673
			TOTAL MEDIA		2,538,210
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.5%
	2,851,000	g	3SBio, Inc		4,777
	3,618,906		AbbVie, Inc		342,276
	496,508		Abcam plc		9,267
	41,398	*,e	Abeona Therapeutics, Inc		530
	398,676	*,e	Acadia Pharmaceuticals, Inc		8,277
	33,944	*,e	Accelerate Diagnostics, Inc		779
	89,181	*	Acceleron Pharma, Inc		5,104
	45,980	*,e	Achaogen, Inc		183
	197,437	*	Achillion Pharmaceuticals, Inc		727
	167,729	*,e	Aclaris Therapeutics, Inc		2,435
	186,279	*	Acorda Therapeutics, Inc		3,660
	29,521	*,e	Adamas Pharmaceuticals, Inc		591
	251,027		Adcock Ingram Holdings Ltd		1,116
	27,376	*,e	ADMA Biologics, Inc		170
	174,062	*	Aduro Biotech, Inc		1,279
	71,806	*,e	Adverum Biotechnologies, Inc		434
	18,842	*	Aeglea BioTherapeutics, Inc		180
	101,907	*	Aerie Pharmaceuticals, Inc		6,272
	113,670	*,e	Agenus, Inc		243
	1,139,509		Agilent Technologies, Inc		80,381
	84,828	*	Agios Pharmaceuticals, Inc		6,542
	58,545	*	Aimmune Therapeutics, Inc		1,597
	50,214		Ajanta Pharma Ltd		737
	16,246	*,e	Akcea Therapeutics, Inc		569
	459,384	*	Akebia Therapeutics, Inc		4,056
	210,267	*	Akorn, Inc		2,729
	11,714	*	Albireo Pharma, Inc		386
	1,014,969	*,e	Alder Biopharmaceuticals, Inc		16,899
	23,046	*	Aldeyra Therapeutics, Inc		318
	73,911		Alembic Pharmaceuticals Ltd		641
	1,067,572	*	Alexion Pharmaceuticals, Inc		148,403
	4,286		ALK-Abello AS		715
	67,603	*	Alkermes plc		2,869
	11,050	*	Allakos, Inc		497
	16,256	*	Allena Pharmaceuticals, Inc		175
	2,266,078		Allergan plc		431,642
	882,465		Alliance Pharma plc		759
	344,159	*	Alnylam Pharmaceuticals, Inc		30,121
	137,147	*,e	AMAG Pharmaceuticals, Inc		2,743
	1,369,612		Amgen, Inc		283,907
	8,292	*	Amicogen, Inc		311
	456,664	*,e	Amicus Therapeutics, Inc		5,521
	296,763	*	Amneal Pharmaceuticals, Inc		6,585
	48,045	*	Amphastar Pharmaceuticals, Inc		924
	121,754	*,e	Ampio Pharmaceuticals, Inc		62

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,948	*	AnaptysBio, Inc	$	3,587
	42,900	*	ANI Pharmaceuticals, Inc		2,426
	2,279	*	Anterogen Co Ltd		188
	47,689	*,e	Apellis Pharmaceuticals, Inc		848
	135,839	*	Aphria, Inc		1,893
	17,848	*	Aptinyx, Inc		517
	7,525	*	Aquestive Therapeutics, Inc		132
	262,191	*	Aratana Therapeutics, Inc		1,531
	46,419	*,e	Arbutus Biopharma Corp		439
	7,925	*,e	Arcus Biosciences, Inc		110
	186,525	*	Ardelyx, Inc		811
	151,631	*	Arena Pharmaceuticals, Inc		6,978
	621,272	*	Arqule, Inc		3,516
	649,303	*	Array Biopharma, Inc		9,869
	117,685	*,e	Arrowhead Research Corp		2,256
	7,121	*,e	Arsanis, Inc		12
	144,662		Ascendis Health Ltd		105
	211,800		ASKA Pharmaceutical Co Ltd		2,918
	445,342		Aspen Pharmacare Holdings Ltd		5,329
	52,274	*	Assembly Biosciences, Inc		1,941
	81,862	*	Assertio Therapeutics, Inc.		481
	2,613,960		Astellas Pharma, Inc		45,648
	1,719,146		AstraZeneca plc		133,997
	809,929	e	AstraZeneca plc (ADR)		32,049
	54,723	*	Atara Biotherapeutics, Inc		2,263
	13,079	*	ATGen Co Ltd		201
	82,198	*,e	Athenex, Inc		1,277
	408,974	*,e	Athersys, Inc		859
	46,079	*	Audentes Therapeutics, Inc		1,824
	28,873	*,e	Aurinia Pharmaceuticals, Inc		191
	335,054		Aurobindo Pharma Ltd		3,441
	963,970	*,e	Aurora Cannabis, Inc		9,262
	131,537	*,e	AVEO Pharmaceuticals, Inc		435
	147,361	*	Avid Bioservices, Inc		1,011
	8,195	*,e	Avrobio, Inc		425
	3,011		Bachem Holding AG.		384
	15,197	*,e	Basilea Pharmaceutica		822
	356,943	*	Bausch Health Cos, Inc		9,166
	20,033	*,e	Bavarian Nordic AS		528
	1,207,409		Bayer AG.		107,098
	210,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd		424
	40,000		Beijing Tongrentang Co Ltd		185
	51,267	*,e	Bellicum Pharmaceuticals, Inc		316
	16,925	*	Binex Co Ltd		195
	286,116	*	BioCryst Pharmaceuticals, Inc		2,183
	46,421		Biogaia AB (B Shares)		2,332
	504,863	*	Biogen Idec, Inc		178,373
	444,729	*	Biohaven Pharmaceutical Holding Co Ltd		16,700
	594,702	*	BioMarin Pharmaceutical, Inc		57,668
	61,682	*	Bio-Rad Laboratories, Inc (Class A)		19,306
	31,606	*	Biospecifics Technologies Corp		1,849
	192,684		Biotage AB		2,582
	84,765		Bio-Techne Corp		17,301

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,187		Biotest AG. (Preference)	$	533
	300,014	*,e	BioTime, Inc		705
	186,144	*	Biovitrum AB		5,446
	182,643	*	Bluebird Bio, Inc		26,666
	69,817	*	Blueprint Medicines Corp		5,450
	4,409		Boiron S.A.		297
	239,141	e	Boryung Pharmaceutical Co Ltd		2,480
	4,023,933		Bristol-Myers Squibb Co		249,806
	675,630		Bruker BioSciences Corp		22,600
	201,299	*	BTG plc		1,446
	16,507		Bukwang Pharmaceutical Co Ltd		411
	215,050		Cadila Healthcare Ltd		1,145
	55,771	*	Calithera Biosciences, Inc		293
	7,590	*,e	Calyxt, Inc		116
	43,599	*	Cambrex Corp		2,982
	9,311	*	Camurus AB		120
	141,818	*,e	Canopy Growth Corp		6,890
	11,394		Caplin Point Laboratories Ltd		65
	50,874	*,e	Cara Therapeutics Inc		1,218
	237,462	*	CareDx, Inc		6,851
	2,389		Caregen Co Ltd		189
	65,931	*,e	CASI Pharmaceuticals, Inc		308
	497,883	*	Catalent, Inc		22,679
	17,234	*,e	Catalyst Biosciences, Inc		186
	203,034	*	Catalyst Pharmaceuticals, Inc		767
	7,105	*	Celcuity, Inc		204
	1,304,072	*	Celgene Corp		116,701
	2,861		Cell Biotech Co Ltd		94
	20,599	*	Cellectis S.A.		578
	16,850	*	Celltrion Pharm Inc		1,216
	83,951	*,e	Celltrion, Inc		22,499
	14,347	*,e	Cellular Biomedicine Group, Inc		260
	995,508		Center Laboratories, Inc		2,346
	85,234	*	Charles River Laboratories International, Inc		11,467
	313,032	*	ChemoCentryx, Inc		3,957
	51,110	*	Chimerix, Inc		199
	10,235,300	*,†,e,m	China Animal Healthcare Ltd		13
	736,000	*,e	China Grand Pharmaceutical and Healthcare Holdings Ltd		477
	1,390,900		China Medical System Holdings Ltd		1,937
	5,200,000	*,e	China Regenerative Medicine International Ltd		73
	1,777,000	g	China Resources Pharmaceutical Group Ltd		2,819
	897,000		China Shineway Pharmaceutical Group Ltd		1,224
	22,770		Chong Kun Dang Pharm Corp		1,427
	3,685		Chong Kun Dang Pharmaceutical Corp		392
	6,736		Choongwae Pharma Corp		274
	49,224	*,e	ChromaDex Corp		211
	485,218		Chugai Pharmaceutical Co Ltd		31,191
	379,296	*	Cipla Ltd		3,422
	1,660,000		CK Life Sciences International Holdings, Inc		102
	33,345	*,e	Clearside Biomedical, Inc		205
	71,628		Clinigen Group plc		788
	144,211	*	Clovis Oncology, Inc		4,235

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,022	*	CMG Pharmaceutical Co Ltd	$	244
	72,800		CMIC Co Ltd		1,468
	66,636	*	Codexis, Inc		1,143
	23,356	*,e	Cohbar, Inc		101
	1,070,170	*,e	Coherus Biosciences, Inc		17,658
	37,213	*,e	Collegium Pharmaceutical, Inc		549
	124,360	*	Concert Pharmaceuticals Inc		1,846
	6,084	*	Constellation Pharmaceuticals, Inc		41
	2,092,000		Consun Pharmaceutical Group Ltd		1,664
	66,697	*,e	Corbus Pharmaceuticals Holdings, Inc		504
	274,383	*,e	Corcept Therapeutics, Inc		3,847
	33,424	*,e	Corium International, Inc		318
	15,928	*,e	Corvus Pharmaceuticals, Inc		137
	4,859	e	COSMO Pharmaceuticals NV		639
	9,351	*	Crinetics Pharmaceuticals, Inc		268
	15,337	*	CrystalGenomics, Inc		322
	711,665		CSL Ltd		103,404
	9,860,961		CSPC Pharmaceutical Group Ltd		20,858
	74,446	*,e	CTI BioPharma Corp		161
	25,971	*,e	Cue Biopharma, Inc		235
	126,553	*,e	Cymabay Therapeutics, Inc		1,402
	66,805	*	Cytokinetics, Inc		658
	146,365	*	CytomX Therapeutics, Inc		2,708
	8,067		Dae Hwa Pharmaceutical Co Ltd		202
	93,602		Daewon Pharmaceutical Co Ltd		1,680
	138,257		Daewoong Co Ltd		2,242
	2,868		Daewoong Pharmaceutical Co Ltd		501
	1,320,352		Daiichi Sankyo Co Ltd		57,234
	1,702,000		Dawnrays Pharmaceutical Holdings Ltd		393
	13,525	*,e	DBV Technologies S.A.		613
	250,906		Dechra Pharmaceuticals plc		7,118
	9,983	*	Deciphera Pharmaceuticals, Inc		387
	61,244	*,e	Denali Therapeutics, Inc		1,331
	49,551	*	Dermira, Inc		540
	57,611	*,e	Dicerna Pharmaceuticals Inc		879
	156,002	*	Dishman Carbogen Amcis India Ltd		535
	2,090		Dong-A Pharmaceutical Co Ltd		214
	2,924		Dong-A ST Co Ltd		283
	25,065		DongKook Pharmaceutical Co Ltd		1,483
	10,634	*,e	Dongsung Pharmaceutical Co Ltd		339
	17,111	*,e	Dova Pharmaceuticals, Inc		359
	133,359		Dr Reddy’s Laboratories Ltd		4,644
	210,255	*	Durect Corp		231
	84,736	*,e	Dynavax Technologies Corp		1,051
	21,954	*,e	Eagle Pharmaceuticals, Inc		1,522
	133,256	*	Editas Medicine, Inc		4,240
	9,983	*	Eidos Therapeutics, Inc		100
	316,075		Eisai Co Ltd		30,791
	1,864,548		Eli Lilly & Co		200,085
	28,220	*,e	Eloxx Pharmaceuticals, Inc		481
	184,138	*	Emergent Biosolutions, Inc		12,122
	22,668	*	Enanta Pharmaceuticals, Inc		1,937
	911,796	*	Endo International plc		15,346

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	87,827	*,e	Endocyte, Inc	$	1,560
	423,308	*	Enzo Biochem, Inc		1,744
	4,953	*	Enzychem Lifesciences Corp		534
	71,050	*,e	Epizyme, Inc		753
	19,700		EPS Co Ltd		420
	45,501	*,g	Eris Lifesciences Ltd		458
	40,742	*,e	Esperion Thereapeutics, Inc		1,808
	13,822		Eurofins Scientific		7,864
	8,223	*,e	Evelo Biosciences, Inc		100
	12,259	*,e	Evolus, Inc		228
	81,576	*	Evotec AG.		1,730
	325,481	*,e	Exact Sciences Corp		25,687
	477,371	*	Exelixis, Inc		8,459
	608,645		Faes Farma S.A. (Sigma)		2,570
	68,506	*	Fate Therapeutics, Inc		1,116
	68,442		FDC Ltd		202
	10,633	*,e	Fennec Pharmaceuticals, Inc		87
	168,364	*	FibroGen, Inc		10,228
	47,560	*	Five Prime Therapeutics, Inc		662
	45,671	*,e	Flexion Therapeutics Inc		855
	36,353	*	Fluidigm Corp		272
	34,672	*,e	Fortress Biotech, Inc		55
	11,356	*	Forty Seven, Inc		169
	9,400		Fuji Pharma Co Ltd		148
	27,538	*	G1 Therapeutics, Inc		1,440
	21,942	*	Galapagos NV		2,492
	9,375	*	Galapagos NV		1,060
	92,222	g	Galenica AG.		5,261
	8,119	*	Genexine Co Ltd		760
	17,982	*,e	Genfit		418
	15,030	*	Genmab AS		2,361
	228,768	*	Genomic Health, Inc		16,064
	438,100	*,e	Genomma Lab Internacional S.A. de C.V.		384
	858,000	*,e	Genscript Biotech Corp		1,439
	63,293		Genus plc		1,969
	212,564	*,e	Geron Corp		374
	85,805		Gerresheimer AG.		7,244
	5,373,562		Gilead Sciences, Inc		414,893
	5,746,845		GlaxoSmithKline plc		115,251
	145,608		Glenmark Pharmaceuticals Ltd		1,270
	67,502	*	Global Blood Therapeutics, Inc		2,565
	42,484	*,e	GlycoMimetics Inc		612
	9,500	*,e	GNI Group Ltd		374
	564,828		Granules India Ltd		742
	3,433		Green Cross Cell Corp		230
	3,687		Green Cross Corp		582
	17,780		Green Cross Holdings Corp		462
	2,931		Green Cross LabCell Corp		161
	53,382		Grifols S.A.		1,501
	15,264	*,e	GTx, Inc		24
	37,100		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		197
	8	*,m	GW Pharmaceuticals plc		0	^
	91,540		H Lundbeck AS		5,651

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	448,570	*	Halozyme Therapeutics, Inc	$	8,151
	17,121	*	Han All Pharmarceutical Co		503
	4,718		Handok Pharmaceuticals Co Ltd		126
	6,261		Hanmi Pharm Co Ltd		2,822
	12,296		Hanmi Science Co Ltd		973
	18,515	*,e	Hansa Medical AB		700
	65,270	*	Harvard Bioscience, Inc		343
	12,400	*,e	HEALIOS KK		196
	91,973	*	Heron Therapeutics, Inc		2,911
	94,071		Hikma Pharmaceuticals plc		2,265
	70,270		Hisamitsu Pharmaceutical Co, Inc		5,389
	15,305	*,e	Homology Medicines, Inc		350
	223,483	*	Horizon Pharma plc		4,376
	2,548,684	*,m	Hua Han Bio-Pharmaceutical Holdings Ltd		20
	1,480	*	Hugel, Inc		571
	2,877		Humedix Co Ltd		85
	2,842		Huons Co Ltd		254
	308,267		Hypermarcas S.A.		2,177
	25,166	*,e	Idera Pharmaceuticals, Inc		224
	46,863	*	Idorsia Ltd		1,178
	52,658		Il Dong Pharmaceutical Co Ltd		1,275
	583,599	*	Illumina, Inc		214,216
	8,282		Ilyang Pharmaceutical Co Ltd		268
	167,321	*,e	Immune Design Corp		577
	1,137,483	*	Immunogen, Inc		10,772
	189,901	*,e	Immunomedics, Inc		3,956
	164,123	*	Incyte Corp		11,338
	1,094,542	*	Indivior plc		2,625
	24,284	*,e	Innate Pharma S.A.		130
	25,920	*,e	Innovate Biopharmaceuticals, Inc		177
	345,566	*	Innoviva, Inc		5,266
	115,868	*	Inovio Pharmaceuticals, Inc		644
	169,803	*,e	Insmed, Inc		3,433
	35,482	*,e	Insys Therapeutics, Inc		358
	44,810	*,e	Intellia Therapeutics, Inc		1,282
	69,082	*,e	Intercept Pharmaceuticals, Inc		8,729
	160,478	*	Intersect ENT, Inc		4,614
	60,614	*	Intra-Cellular Therapies, Inc		1,315
	93,779	*,e	Intrexon Corp		1,615
	6,841	*	iNtRON Biotechnology, Inc		263
	83,134	*,e	Invitae Corp		1,391
	195,230	*	Ionis Pharmaceuticals, Inc		10,070
	198,140	*	Iovance Biotherapeutics, Inc		2,229
	72,099		Ipca Laboratories Ltd		676
	79,283		Ipsen		13,348
	165,583	*	IQVIA Holdings, Inc		21,483
	183,538	*	Ironwood Pharmaceuticals, Inc		3,388
	14,700	*	Japan Tissue Engineering Co Lt		159
	700,264	*	Jazz Pharmaceuticals plc		117,735
	19,700		JCR Pharmaceuticals Co Ltd		1,120
	4,114		Jeil Pharmaceutical Co Ltd		220
	60,900		Jiangsu Hengrui Medicine Co Ltd		562
	6,507,546		Johnson & Johnson		899,148

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,805	*,e	Jounce Therapeutics, Inc	$	135
	149,646		Jubilant Organosys Ltd		1,513
	346,593	e	JW Holdings Corp		2,534
	100,995	*,e	Kadmon Holdings, Inc		337
	35,000		Kaken Pharmaceutical Co Ltd		1,861
	16,755	*	Kala Pharmaceuticals, Inc		165
	94,600		Kangmei Pharmaceutical Co Ltd		301
	497,426	*	Karyopharm Therapeutics, Inc		8,471
	138,619	*,e	Keryx Biopharmaceuticals, Inc		471
	7,119	*,e	Kezar Life Sciences, Inc		152
	48,298	*	Kindred Biosciences Inc		674
	13,238	*	Kiniksa Pharmaceuticals Ltd		338
	70,900		Kissei Pharmaceutical Co Ltd		2,248
	74,249	*	Knight Therapeutics, Inc		473
	4,245	e	Kolon Life Science, Inc		317
	22,156	*	Komipharm International Co Ltd		520
	64,827		Korea United Pharm Inc		1,765
	31,606	*,e	Kura Oncology, Inc		553
	17,506		Kwang Dong Pharmaceutical Co Ltd		121
	58,359		Kyongbo Pharmaceutical Co Ltd		705
	23,636	e	Kyorin Co Ltd		488
	389,972		Kyowa Hakko Kogyo Co Ltd		7,318
	30,198	*,e	La Jolla Pharmaceutical Co		608
	497,463		Laboratorios Almirall S.A.		9,982
	40,284	*,e	Lannett Co, Inc		191
	22,779	g	Laurus Labs Ltd		136
	168,000		Lee’s Pharmaceutical Holdings Ltd		144
	5,029	*	LegoChem Biosciences, Inc		225
	133,257	*,e	Lexicon Pharmaceuticals, Inc		1,422
	61,452	*	Ligand Pharmaceuticals, Inc (Class B)		16,868
	7,000	e	Linical Co Ltd		113
	12,232	*	Liquidia Technologies, Inc		336
	772,295		Lonza Group AG.		264,200
	60,000	*	Lotus Pharmaceutical Co Ltd		101
	49,987	*	Loxo Oncology, Inc		8,539
	233,508		Luminex Corp		7,078
	236,226	*	Lupin Ltd		2,936
	1,623,500	e,g	Luye Pharma Group Ltd		1,454
	141,375	*	MacroGenics, Inc		3,031
	9,269	*,e	Madrigal Pharmaceuticals, Inc		1,985
	5,690	*	Magenta Therapeutics, Inc		68
	332,606	*	Mallinckrodt plc		9,749
	155,344	*,e	MannKind Corp		284
	126,646	*,e	Marinus Pharmaceuticals, Inc		1,266
	7,430,867	*	Mayne Pharma Group Ltd		6,983
	93,033	*,e	Medicines Co		2,783
	52,315	*,e	MediciNova, Inc		653
	242,984	*	Medpace Holdings, Inc		14,557
	4,577		Medy-Tox, Inc		2,555
	213,100		Mega Lifesciences PCL		246
	5,224	*	MeiraGTx Holdings plc		71
	84,496	*,e	Melinta Therapeutics, Inc		334
	18,667	*,e	Menlo Therapeutics, Inc		184
	250,882		Merck KGaA		25,921

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	379,439	*,e	Merrimack Pharmaceuticals, Inc	$	2,022
	18,023	*,e	Mersana Therapeutics, Inc		180
	262,796	*,e	Mesoblast Ltd		410
	42,593	*	Mettler-Toledo International, Inc		25,938
	3,665	*	Mezzion Pharma Co Ltd		301
	136,903	*,e	MiMedx Group, Inc		846
	190,273	*,e	Minerva Neurosciences, Inc		2,388
	72,908	*,e	Miragen Therapeutics, Inc		407
	43,554	*,e	Mirati Therapeutics, Inc		2,051
	7,879	*,e	Mithra Pharmaceuticals S.A.		269
	34,100		Mochida Pharmaceutical Co Ltd		2,818
	5,649	*,e	Molecular Partners AG.		127
	4,445	*,e	Molecular Templates, Inc		24
	210,288	*	Momenta Pharmaceuticals, Inc		5,531
	20,695	*	Morphosys AG.		2,214
	19,643	*,e	Mustang Bio, Inc		117
	2,565,419	*	Mylan NV		93,894
	84,171	*	MyoKardia, Inc		5,488
	88,494	*	Myriad Genetics, Inc		4,071
	127,818	*	NanoString Technologies, Inc		2,279
	27,020	*,e	NantKwest, Inc		100
	141,096		Natco Pharma Ltd		1,464
	294,352	*	Natera, Inc		7,047
	9,729	*,e	Naturalendo Tech Co Ltd		169
	232,731	*	Nektar Therapeutics		14,187
	498,476	*,e	NeoGenomics, Inc		7,652
	9,148	*,e	Neon Therapeutics, Inc		78
	40,917	*,e	Neos Therapeutics, Inc		198
	254,246	*	Neurocrine Biosciences, Inc		31,260
	41,770	*,e	NewLink Genetics Corp		100
	372,050	e	Nichi-iko Pharmaceutical Co Ltd		5,529
	29,700		Nippon Shinyaku Co Ltd		1,948
	25,649	*,e	Nordic Nanovector ASA		164
	2,992,634		Novartis AG.		257,601
	651,688	*,e	Novavax, Inc		1,225
	2,757,334		Novo Nordisk AS		129,774
	44,262	*,e	Nymox Pharmaceutical Corp		109
	71,000	*	OBI Pharma, Inc		339
	46,358	*	Ocular Therapeutix, Inc		319
	9,685	*,e	Odonate Therapeutics, Inc		188
	214,732	*,e	Omeros Corp		5,242
	15,137	*,e,g	Oncopeptides AB		274
	648,338		Ono Pharmaceutical Co Ltd		18,352
	434,380	*,e	Opko Health, Inc		1,503
	23,411	*,e	Optinose, Inc		291
	138,543	*,e	Organovo Holdings, Inc		159
	144,055		Orion Oyj (Class B)		5,452
	17,712	*	Oscotec, Inc		422
	77,855		Otsuka Holdings KK		3,927
	18,777	*	Ovid therapeutics, Inc		106
	170,784	*,e	Oxford Biomedica plc		2,035
	169,239	*,e	Pacific Biosciences of California, Inc		916
	290,966	*	Pacira Pharmaceuticals, Inc		14,301

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,663,590	*,e	Paion AG.	$	7,453
	422,994	*	Palatin Technologies, Inc		422
	45,892	*,e	Paratek Pharmaceuticals, Inc		445
	211,457	*	PDL BioPharma, Inc		556
	59,900	*,e	PeptiDream, Inc		2,387
	7,324	*	Peptron, Inc		209
	269,012	*	PerkinElmer, Inc		26,167
	78,670		Perrigo Co plc		5,570
	20,552	*	Pfenex, Inc		105
	14,744		Pfizer Ltd		608
	16,718,967		Pfizer, Inc		736,805
	111,452	*,e	Pharma Mar S.A.		196
	2,394		PHARMA RESEARCH PRODUCTS Co Ltd		97
	133,472		PharmaEngine Inc		564
	91,000	*	PharmaEssentia Corp		534
	29,902		Pharmally International Holding Co Ltd		453
	37,885	*	Pharmicell Co Ltd		565
	8,979,849	*,e	Pharming Group NV		10,277
	211,888		Phibro Animal Health Corp		9,090
	309,555	*	Pieris Pharmaceuticals, Inc		1,734
	127,668		Piramal Healthcare Ltd		4,050
	12,602	*,e	PolarityTE, Inc		241
	88,131	*,e	Portola Pharmaceuticals, Inc		2,347
	107,104	*	PRA Health Sciences, Inc		11,802
	70,163	*	Prestige Brands Holdings, Inc		2,658
	4,235	e	Probi AB		197
	100,803	*,e	Progenics Pharmaceuticals, Inc		632
	368,113	*,e	Prometic Life Sciences, Inc		137
	12,684	*	Prostemics Co Ltd		107
	17,988	*,e	Proteostasis Therapeutics, Inc		43
	56,162	*,e	Prothena Corp plc		735
	16,671,831		PT Kalbe Farma Tbk		1,544
	208,196	*	PTC Therapeutics, Inc		9,785
	144,130	*	Puma Biotechnology, Inc		6,608
	479,369		QIAGEN NV		18,158
	404,471	*	QIAGEN NV (Turquoise)		15,318
	7,171	*,e	Quanterix Corp		154
	272,556	*	Ra Pharmaceuticals, Inc		4,931
	54,356	*,e	Radius Health, Inc		968
	25,024	*,e	Reata Pharmaceuticals, Inc		2,046
	34,316		Recipharm AB		548
	152,236		Recordati S.p.A.		5,148
	21,157	*	Recro Pharma, Inc		150
	136,360	*	Regeneron Pharmaceuticals, Inc		55,095
	100,417	*	REGENXBIO, Inc		7,581
	52,789	*	Repligen Corp		2,928
	10,216	*	Replimune Group, Inc		164
	9,730	*,e	resTORbio, Inc		147
	474,619	*	Retrophin, Inc		13,636
	60,191	*	Revance Therapeutics, Inc		1,496
	4,235		Reyon Pharmaceutical Co Ltd		80
	17,799	*	Rhythm Pharmaceuticals, Inc		519
	201,420		Richter Gedeon Rt		3,767
	223,950	*	Rigel Pharmaceuticals, Inc		719

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	756,017		Roche Holding AG.	$	182,816
	28,195	*,e	Rocket Pharmaceuticals, Inc		694
	107,900		Rohto Pharmaceutical Co Ltd		3,791
	16,327	*,e	Rubius Therapeutics, Inc		392
	125,766	*	Sage Therapeutics, Inc		17,764
	10,319		Sam Chun Dang Pharm Co Ltd		446
	61,918		Samjin Pharmaceutical Co Ltd		3,249
	17,738	*,g	Samsung Biologics Co Ltd		8,536
	15,900	*,e	SanBio Co Ltd		551
	442,786	*	Sangamo Biosciences, Inc		7,505
	7,376		Sanofi India Ltd		641
	2,586,325		Sanofi-Aventis		231,081
	583,851		Sanofi-Aventis S.A. (ADR)		26,081
	338,491		Santen Pharmaceutical Co Ltd		5,367
	141,935	*,e	Sarepta Therapeutics, Inc		22,924
	33,409	*,e	Savara, Inc		373
	24,300	e	Sawai Pharmaceutical Co Ltd		1,312
	8,179,976		Schering-Plough Corp		580,287
	50,057	*	Schnell Biopharmaceuticals, Inc		167
	8,420	*	Scholar Rock Holding Corp		217
	154,960		Scinopharm Taiwan Ltd		154
	2,319	*,e	scPharmaceuticals, Inc		14
	48,083		Searle Co Ltd		122
	414,630	*	Seattle Genetics, Inc		31,976
	51,552	*	Seegene, Inc		1,150
	1,070,900		Seikagaku Corp		16,305
	22,504	*,e	Selecta Biosciences, Inc		350
	24,827	*,e	Seres Therapeutics, Inc		188
	104,000		Shandong Xinhua Pharmaceutical Co Ltd		54
	51,900		Shanghai Fosun Pharmaceutical Group Co Ltd		238
	577,751		Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		2,270
	159,000		Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		82
	309,000		Shanghai Haixin Group Co		151
	27,000	g	Shanghai Haohai Biological Technology Co Ltd		184
	14,815		Shilpa Medicare Ltd		82
	306,018		Shionogi & Co Ltd		20,004
	753,813		Shire Ltd		45,542
	742		Shire plc (ADR)		134
	44,600		Sichuan Kelun Pharmaceutical Co Ltd		173
	9,986		Siegfried Holding AG.		4,644
	19,335	*,e	Sienna Biopharmaceuticals, Inc		287
	69,144	*,e	SIGA Technologies, Inc		476
	3,786,000		Sihuan Pharmaceutical Holdings		773
	51,779	*	SillaJen, Inc		4,777
	23,220,307		Sino Biopharmaceutical		21,598
	5,778	*	Solara Active Pharma Sciences Ltd		22
	16,356	*,e	Solid Biosciences, Inc		772
	121,492	*,e	Sorrento Therapeutics, Inc		535
	45,900	*,e	Sosei Group		554
	41,727	*,e	Spark Therapeutics, Inc		2,276
	351,414	*	Spectrum Pharmaceuticals, Inc		5,904

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,737	*,e	Spero Therapeutics, Inc	$	92
	16,095	*,e	Spring Bank Pharmaceuticals, Inc		194
	1,992,000		SSY Group Ltd		1,929
	4,266		ST Pharm Co Ltd		115
	27,620		Stada Arzneimittel AG.		2,600
	3,185	*	Stallergenes Greer plc		114
	38,561	*	Stemline Therapeutics, Inc		640
	397,947		Strides Arcolab Ltd		2,387
	310,175	e	Sumitomo Dainippon Pharma Co Ltd		7,124
	37,586	*	Sun Pharma Advanced Research Company Ltd		178
	894,150	*	Sun Pharmaceutical Industries Ltd		7,688
	152,277	*	Supernus Pharmaceuticals, Inc		7,667
	10,518	*,e	Surface Oncology, Inc		115
	150,298		Suven Life Sciences Ltd		559
	26,329	*	Syndax Pharmaceuticals, Inc		213
	123,652	*	Syneos Health, Inc		6,374
	352,193	*,e	Synergy Pharmaceuticals, Inc		599
	30,692	g	Syngene International Ltd		255
	17,663	*	Synlogic, Inc		251
	31,114	*	Syros Pharmaceuticals, Inc		371
	72,733	*,e	T2 Biosystems, Inc		542
	206,799	*	Taigen Biopharmaceuticals Holdings Ltd		138
	182,000	*	TaiMed Biologics, Inc		1,122
	22,868		Taisho Pharmaceutical Holdings Co Ltd		2,798
	31,300		Takara Bio, Inc		869
	622,705	e	Takeda Pharmaceutical Co Ltd		26,626
	543,075		Tanabe Seiyaku Co Ltd		9,089
	46,963	*	Tanvex BioPharma, Inc		120
	7,248		Tecan Group AG.		1,716
	2,772	*	Tego Science, Inc		146
	61,251	*,e	Teligent, Inc		242
	826,697	*,e	TESARO, Inc		32,249
	72,114	*	Tetraphase Pharmaceuticals, Inc		199
	5,026,655	e	Teva Pharmaceutical Industries Ltd (ADR)		108,274
	77,735	*,e	TG Therapeutics, Inc		435
	16,065	*	Theragen Etex Co Ltd		216
	244,927	*,e	TherapeuticsMD, Inc		1,607
	62,128	*,e	Theratechnologies, Inc		418
	99,598	*,e	Theravance Biopharma, Inc		3,254
	612,639		Thermo Fisher Scientific, Inc		149,533
	38,716	*,e	Tocagen, Inc		604
	644,000		Tong Ren Tang Technologies Co Ltd		943
	70,300		Tonghua Dongbao Pharmaceutical Co Ltd		186
	7,700		Torii Pharmaceutical Co Ltd		185
	100,700		Towa Pharmaceutical Co Ltd		7,466
	13,708	*,e	Translate Bio, Inc		137
	15,838	*	Tricida, Inc		484
	42,400		Tsumura & Co		1,464
	91,917		TTY Biopharm Co Ltd		256
	2,043	*	TWi Biotechnology, Inc		3
	34,000	*	TWi Pharmaceuticals, Inc		71
	68,785	*,e	Tyme Technologies, Inc		191
	208,689		UCB S.A.		18,754
	86,106	*	Ultragenyx Pharmaceutical, Inc		6,573

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,972		Unichem Laboratories Ltd	$	105
	6,621,500	e	United Laboratories Ltd		5,851
	37,355	*	United Therapeutics Corp		4,777
	7,305	*,e	UNITY Biotechnology, Inc		119
	5,436	*,e	Unum Therapeutics, Inc		56
	6,681	*,e	UroGen Pharma Ltd		316
	695,628	*	Vanda Pharmaceuticals, Inc		15,965
	389,608	*	Vectura Group plc		405
	177,882	*	Veracyte, Inc		1,699
	91,064	*,e	Verastem, Inc		660
	188,106	*	Vericel Corp		2,662
	8,511	*	Verrica Pharmaceuticals, Inc		138
	647,894	*	Vertex Pharmaceuticals, Inc		124,875
	253,531		Vifor Pharma AG.		43,955
	68,782	*,e	Viking Therapeutics, Inc		1,198
	2,772	*	Virbac S.A.		461
	18,315	*,e	ViroMed Co Ltd		3,977
	42,442		Vitrolife AB		622
	68,789	*,e	Voyager Therapeutics, Inc		1,301
	145,550	*	Waters Corp		28,336
	23,722	*,e	WaVe Life Sciences Pte Ltd		1,186
	56,642		Whanin Pharmaceutical Co Ltd		1,093
	2,536,000		Winteam Pharmaceutical Group Ltd		1,719
	15,180		Wockhardt Ltd		113
	533,500	*,g	Wuxi Biologics Cayman, Inc		5,399
	118,713	*	Xencor Inc		4,626
	9,426	*	Xeris Pharmaceuticals, Inc		166
	8,263	*,e	XOMA Corp		145
	179,200	g	YiChang HEC ChangJiang Pharmaceutical Co Ltd		744
	8,771		Yuhan Corp		1,917
	55,496	*,e	Yungjin Pharmaceutical Co Ltd		422
	122,000		YungShin Global Holding Corp		163
	21,900	m	Yunnan Baiyao Group Co Ltd		227
	32,540	*	Zafgen, Inc		380
	15,900	*,e	Zai Lab Ltd (ADR)		310
	16,698	*,e	Zealand Pharma AS		273
	109,000		Zeria Pharmaceutical Co Ltd		2,411
	15,000		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		221
	184,306	*,e	ZIOPHARM Oncology, Inc		590
	2,376,576		Zoetis, Inc		217,599
	80,679	*,e	Zogenix, Inc		4,002
	60,529	*	Zomedica Pharmaceuticals Corp		113
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		9,435,677
REAL ESTATE - 3.4%
	18,050,000		8990 Holdings, Inc		2,434
	458,233		Abacus Property Group		1,130
	106,472		Acadia Realty Trust		2,984
	646		Activia Properties Inc		2,796
	26,444		ADLER Real Estate AG.		467
	116,044	g	ADO Properties S.A.		6,953
	1,552	*	Advance Residence Investment Corp		3,965
	190,224	*,g	Aedas Homes SAU		6,012

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	14,951		Aedifica S.A.	$	1,348
	33,194		Aeon Mall Co Ltd		570
	8,648	*	AEON REIT Investment Corp		9,305
	1	*	Africa Israel Investments Ltd		0	^
	7,635	*	Africa Israel Properties Ltd		190
	1,750,000		Agile Property Holdings Ltd		2,480
	184,293		Agree Realty Corp		9,790
	485,841		AIMS AMP Capital Industrial REIT		498
	95,154	*	Airport City Ltd		1,161
	4,239,000		Aldar Properties PJSC		2,112
	91,555		Alexander & Baldwin, Inc		2,077
	2,832		Alexander’s, Inc		972
	208,150		Alexandria Real Estate Equities, Inc		26,183
	48,920		Aliansce Shopping Centers S.A.		179
	10,463,794	e	Allco Commercial Real Estate Investment Trust		11,173
	28,928		Allied Properties Real Estate Investment Trust		965
	10,719		Allreal Holding AG.		1,720
	76,454		Alony Hetz Properties & Investments Ltd		803
	350,907		Alstria Office REIT-AG.		5,204
	13,172	*,e	Altisource Portfolio Solutions S.A.		425
	24,762	e	Altus Group Ltd		587
	332,600		Amata Corp PCL (Foreign)		248
	212,345		American Assets Trust, Inc		7,918
	373,746		American Campus Communities, Inc		15,383
	1,032,120		American Homes 4 Rent		22,593
	3,027	*,e	American Realty Investors, Inc		51
	779,911	e	American Tower Corp		113,321
	115,583		Americold Realty Trust		2,892
	274,584		Amot Investments Ltd		1,454
	494,200		Ananda Development PCL (Foreign)		77
	111,138	e	Apartment Investment & Management Co (Class A)		4,905
	295,195		Apple Hospitality REIT, Inc		5,163
	1,724,621		Argosy Property Ltd		1,257
	136,919		Armada Hoffler Properties, Inc		2,069
	578,634		Aroundtown S.A.		5,155
	610,490		Arrowhead Properties Ltd (Class A)		235
	341,622		Artis Real Estate Investment Trust		3,108
	523,100		Ascendas Hospitality Trust		314
	842,808		Ascendas REIT		1,628
	904,891	e	Ascott Residence Trust		728
	114,984		Ashford Hospitality Trust, Inc		735
	9,157,660		Asian Property Development PCL (Foreign)		2,577
	1,974,960		Assura Group Ltd		1,395
	398,802	*	Attacq Ltd		438
	18,283	*	AV Homes, Inc		366
	427,541		AvalonBay Communities, Inc		77,449
	474,273		Aventus Retail Property Fund Ltd		733
	508,699		Aveo Group		743
	1,366,000	*,e	AVIC International Holding HK Ltd		39
	152,823		Axis Real Estate Investment Trust		54
	13,535,815		Ayala Land, Inc		10,033
	4,761,352	*,m	AZ BGP Holdings		114
	36,566		Azrieli Group		1,868
	5,940,600		Bangkok Land PCL		329

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	105,236	*	Barwa Real Estate Co	$	1,023
	1,803		Bayside Land Corp		840
	22,278		Befimmo SCA Sicafi		1,271
	5,032,000		Beijing Capital Land Ltd		1,844
	907,020	e	Beni Stabili S.p.A.		791
	10,904		Big Shopping Centers Ltd		764
	616,603		Big Yellow Group plc		7,356
	1,626		BLife Investment Corp		3,718
	3,450		Blue Square Real Estate Ltd		129
	30,451	e	Bluerock Residential Growth REIT, Inc		298
	31,930		Boardwalk REIT		1,240
	590,011		Boston Properties, Inc		72,624
	1,323,862		BR Malls Participacoes S.A.		3,153
	87,108		BR Properties S.A.		165
	1,764	*	Brack Capital Properties NV		201
	135,865		BraeMar Hotels & Resorts, Inc		1,599
	199,141		Brandywine Realty Trust		3,130
	573,762		British Land Co plc		4,615
	360,573		Brixmor Property Group, Inc		6,314
	5,073		Brookfield Property Partners LP		106
	499,406		Brookfield Property REIT, Inc		10,453
	30,952		Brt Realty Trust		373
	388,312		Bunnings Warehouse Property Trust		937
	29,602,014	e	C C Land Holdings Ltd		7,341
	133,000		C&D International Investment Group Ltd		117
	213,976		CA Immobilien Anlagen AG.		7,647
	780,620		Cache Logistics Trust		420
	815,963		Cambridge Industrial Trust		304
	438,437		Camden Property Trust		41,025
	200,777		Canadian Apartment Properties REIT		7,413
	1,079,037		CapitaCommercial Trust		1,406
	506,178		Capital & Counties Properties		1,756
	284,261		Capital & Regional plc		159
	3,431,818		CapitaLand Ltd		8,453
	1,417,325	e	CapitaMall Trust		2,304
	433,932		CapitaRetail China Trust		460
	786,307		CareTrust REIT, Inc		13,925
	4,762,500	*,e	Carnival Group International Holdings Ltd		136
	345,167	e	Castellum AB		6,183
	201,599		CatchMark Timber Trust Inc		2,304
	470,300		Cathay Real Estate Development Co Ltd		283
	222,003	e	CBL & Associates Properties, Inc		886
	751,798	*	CBRE Group, Inc		33,154
	586,020	e	CDL Hospitality Trusts		686
	15,000,000		Cebu Holdings, Inc		1,491
	616,440		Cedar Realty Trust, Inc		2,873
	64,325		Cedar Woods Properties Ltd		267
	240,000		Central China Real Estate Ltd		98
	938,358		Central Pattana PCL (Foreign)		2,408
	359,931		Centuria Industrial REIT		739
	1,933,636		Champion Real Estate Investment Trust		1,353
	1,531,339		Charter Hall Group		7,926
	111,462		Charter Hall Long Wale REIT		339

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	61,051		Chatham Lodging Trust	$	1,275
	79,846		Chesapeake Lodging Trust		2,561
	4,217,722		Cheuk Nang Holdings Ltd		2,553
	3,498,000		China Aoyuan Property Group Ltd		2,362
	1,920,000		China Electronics Optics Valley Union Holding Co Ltd		118
	4,177,663	*,e	China Evergrande Group		11,664
	32,900		China Fortune Land Development Co Ltd		121
	629,000	*,g	China Logistics Property Holdings Co Ltd		220
	846,000		China Merchants Land Ltd		125
	35,400		China Merchants Shekou Industrial Zone Holdings Co Ltd		96
	9,385,021		China New Town Development Co Ltd		263
	960,000	e	China Overseas Grand Oceans Group Ltd		308
	15,700,429		China Overseas Land & Investment Ltd		49,157
	820,000		China Overseas Property Holdings Ltd		235
	6,205,801		China Resources Land Ltd		21,746
	15,770,400		China SCE Property Holdings Ltd		6,084
	1,178,915		China Vanke Co Ltd		3,887
	63,800		China Vanke Co Ltd (Class A)		226
	279,000	g	China Vast Industrial Urban Development Co Ltd		134
	651,500		Chinese Estates Holdings Ltd		752
	220,202		Choice Properties REIT		2,058
	148,088		Chong Hong Construction Co		376
	3,728,000		CIFI Holdings Group Co Ltd		1,707
	166,144	e	City Developments Ltd		1,108
	304,179		City Office REIT, Inc		3,839
	293,540	e	Citycon Oyj		612
	1,077,750		Civitas Social Housing plc		1,545
	3,062,071		CK Asset Holdings Ltd		22,954
	18,888	e	Clipper Realty, Inc		256
	21,139		Cofinimmo		2,638
	106,253		Colliers International Group, Inc		8,230
	1,594,336		Colony Capital, Inc		9,709
	206,000		Colour Life Services Group		118
	430,183		Columbia Property Trust, Inc		10,170
	357	*,e	Comforia Residential REIT, Inc		841
	58,237		Cominar Real Estate Investment Trust		526
	24,400		Community Healthcare Trust, Inc		756
	662,400		Concentradora Fibra Danhos S.A. de C.V.		1,073
	522,700	g	Concentradora Fibra Hotelera Mexicana S.A. de C.V.		344
	4,992		Consolidated-Tomoka Land Co		311
	22,244	*	Consus Real Estate AG.		212
	328,367		CoreCivic, Inc		7,989
	15,395	e	CorEnergy Infrastructure Trust, Inc		579
	66,763		CorePoint Lodging, Inc		1,299
	76,017		Coresite Realty		8,449
	8,221		Corestate Capital Holding S.A.		382
	2,129,136	e	Corp Inmobiliaria Vesta SAB de C.V.		3,282
	68,206		Corporate Office Properties Trust		2,035
	6,838,391		Country Garden Holdings Co Ltd		8,618
	215,267	*	Countrywide plc		33
	1,408,533		Cousins Properties, Inc		12,522

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,555	*	Crescendo Investment Corp	$	4,591
	26,365		Crombie Real Estate Investment Trust		266
	548,300		Cromwell European Real Estate Investment Trust		366
	902,835		Cromwell Group		698
	827,978		Crown Castle International Corp		92,179
	2,948,943		CSI Properties Ltd		137
	37,997		CT Real Estate Investment Trust		378
	421,360		CubeSmart		12,021
	61,375	*,e	Cushman & Wakefield plc		1,043
	378,257		CyrusOne, Inc		23,981
	45,577	*,e	D Carnegie & Co AB		873
	447	*	DA Office Investment Corp		2,695
	170,400		Daibiru Corp		1,799
	22,600	e	Daikyo, Inc		459
	2,595,900		Daiman Development BHD		1,763
	34,540		Daito Trust Construction Co Ltd		4,451
	635,054		Daiwa House Industry Co Ltd		18,819
	1,839,795	*	DAMAC Properties Dubai Co PJSC		1,022
	888,452		DDR Corp		11,896
	1,134,068		Delta Property Fund Ltd		476
	189,125		Derwent London plc		7,041
	303,830		Deutsche Annington Immobilien SE		14,860
	52,109		Deutsche Euroshop AG.		1,686
	356,507		Deutsche Wohnen AG.		17,124
	607,915		Dexus Property Group		4,644
	1,060,662	*	Deyaar Development PJSC		124
	320,655		DiamondRock Hospitality Co		3,742
	124,812		DIC Asset AG.		1,374
	236,989		Digital Realty Trust, Inc		26,657
	135,190		Dios Fastigheter AB		865
	850,000		DLF Ltd		1,910
	459,641		Dongwon Development Co Ltd		1,707
	743,530	*	DoubleDragon Properties Corp		268
	292,577		Douglas Emmett, Inc		11,036
	752,990		Dream Global REIT		8,657
	24,995		Dream Industrial Real Estate Investment Trust		196
	165,695		Dream Office Real Estate Investment Trust		3,103
	134,531	*	Dream Unlimited Corp		842
	771,177		Duke Realty Corp		21,878
	81,473		Easterly Government Properties, Inc		1,578
	471,813		Eastern & Oriental BHD		151
	46,443		EastGroup Properties, Inc		4,441
	580,100	*	Eco World Development Group BHD		168
	592,100	*	Eco World International BHD		141
	1,035,100	*	Emaar Development PJSC		1,476
	2,217,336	*	Emaar Malls Group PJSC		1,105
	8,031,843		Emaar Properties PJSC		10,827
	1,393,971		Emira Property Fund Ltd		1,471
	1,697,430		Emlak Konut Gayrimenkul Yatiri		502
	835,333		Emperor International Holdings		220
	322,431		Empire State Realty Trust, Inc		5,356
	393,007		Empiric Student Property plc		493
	33,943		Entertainment Properties Trust		2,322

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	329,220	g	Entra ASA	$	4,736
	130,415		Equinix, Inc		56,455
	278,865		Equites Property Fund Ltd		394
	161,321	*	Equity Commonwealth		5,177
	396,826		Equity Lifestyle Properties, Inc		38,274
	620,648		Equity Residential		41,124
	814,184	*	Eshraq Properties Co PJSC		120
	48,103		Essential Properties Realty Trust, Inc		683
	223,115		Essex Property Trust, Inc		55,045
	30,217		Eurobank Properties Real Estate Investment Co		280
	37,658		Eurocommercial Properties NV		1,379
	437,359		Extra Space Storage, Inc		37,893
	781,317	*	Ezdan Holding Group QSC		2,275
	394,646		Fabege AB		5,465
	14,607,500		Fantasia Holdings Group Co Ltd		1,788
	2,506,357		Far East Consortium		1,319
	461,200	e	Far East Hospitality Trust		214
	224,812		Farglory Land Development Co Ltd		236
	107,976	e	Farmland Partners, Inc		723
	159,097	*	Fastighets AB Balder		4,411
	262,480		Federal Realty Investment Trust		33,196
	6,269,606		Fibra Uno Administracion S.A. de C.V.		8,245
	18,000,000		Filinvest Development Corp		2,369
	53,664,000		Filinvest Land, Inc		1,420
	72,600		Financial Street Holdings Co Ltd		74
	156,810		First Capital Realty, Inc		2,367
	422,869		First Industrial Realty Trust, Inc		13,278
	1,296,970		First Real Estate Investment Trust		1,195
	65,742		FirstService Corp		5,554
	152,341		Folkestone Education Trust		311
	17,249		Fonciere Des Regions		1,801
	590,347		Forest City Realty Trust, Inc		14,812
	14,805	*,e	Forestar Group, Inc		314
	731,530	e	Fortress REIT Ltd		788
	1,076,634	e	Fortress REIT Ltd (Class A)		1,282
	574,503		Four Corners Property Trust, Inc		14,759
	143,813		Franklin Street Properties Corp		1,149
	5,591,725		Franshion Properties China Ltd		2,545
	442,600	e	Frasers Centrepoint Trust		735
	1,165,110	e	Frasers Logistics & Industrial Trust		911
	94,673		Front Yard Residential Corp		1,027
	451		Frontier Real Estate Investment Corp		1,756
	9,729	*	FRP Holdings, Inc		604
	502	*	Fukuoka REIT Corp		776
	2,194,000		Future Land Development Holdin		1,418
	30,600		Future Land Holdings Co Ltd		117
	1,513,893		Gaming and Leisure Properties, Inc		53,365
	176,291		Gateway Lifestyle		285
	64,824		Gazit Globe Ltd		590
	19,990		Gazit, Inc		343
	251,054		GCP Student Living plc		487
	1,170,860		GDI Property Group		1,117
	22,280		Gecina S.A.		3,720
	63,100		Gemdale Corp		83

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,038,000	e	Gemdale Properties and Investment Corp Ltd	$	275
	562,247		Geo Group, Inc		14,146
	144,745		Getty Realty Corp		4,134
	49,698		Gladstone Commercial Corp		952
	19,149	e	Gladstone Land Corp		236
	166,646	e	Global Medical REIT, Inc		1,570
	91,838		Global Net Lease, Inc		1,915
	591	*,e	Global One Real Estate Investment Corp		608
	1,858,000	*,e	Glorious Property Holdings Ltd		96
	2,695		GLP J-Reit		2,619
	31,904	*	Godrej Properties Ltd		260
	12,880		Goldcrest Co Ltd		210
	109,300		Golden Land Property Development PCL		35
	998,895		Goodman Property Trust		1,024
	133,877	e	Government Properties Income Trust		1,511
	1,044,139		GPT Group (ASE)		3,933
	1,138,334	e	Grainger plc		4,442
	272,529		Gramercy Property Trust		7,478
	105,827		Grand City Properties S.A.		2,746
	91,861		Granite REIT		3,945
	429,408		Great Eagle Holdings Ltd		2,145
	1,003,805		Great Portland Estates plc		8,745
	4,152,490		Green REIT plc		7,280
	100,800		Greenland Holdings Corp Ltd		94
	1,151,000		Greenland Hong Kong Holdings Ltd		357
	855,000		Greentown China Holdings Ltd		797
	1,391		Griffin Land & Nurseries, Inc (Class A)		54
	790,000	*,e	Ground International Development Ltd		80
	994,060		Growthpoint Properties Australia Ltd		2,794
	8,541,848		Growthpoint Properties Ltd		14,032
	332,600	*,e	Grupo GICSA S.A. de C.V.		159
	342,000	*	Guangdong Land Holdings Ltd		78
	1,119,085		Guangzhou R&F Properties Co Ltd		2,053
	157,600	e	Guocoland Ltd		218
	2,917,000		Guorui Properties Ltd		760
	208,574		H&R Real Estate Investment Trust		3,209
	41,723		Hamborner AG.		440
	336,924		Hammerson plc		2,005
	206,731		Hang Lung Group Ltd		551
	4,146,113		Hang Lung Properties Ltd		8,088
	373	*	Hankyu Reit, Inc		465
	81,354	e	Hannon Armstrong Sustainable Infrastructure Capital, Inc		1,747
	1,569,822		Hansteen Holdings plc		1,985
	1,289,412		HCP, Inc		33,937
	1,050	*	Health Care & Medical Investment Corp		1,077
	260,845		Healthcare Realty Trust, Inc		7,632
	521,136		Healthcare Trust of America, Inc		13,899
	141,000		Heiwa Real Estate Co Ltd		2,493
	60,724		Helical Bar plc		262
	72,639		Heliopolis Housing		93
	661,291		Hemfosa Fastigheter AB		9,129
	2,298,853		Henderson Land Development Co Ltd		11,545

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	49,512		Hersha Hospitality Trust	$	1,122
	175,157		HFF, Inc (Class A)		7,441
	32,752,545		Hibernia REIT plc		53,999
	942,042		Highwealth Construction Corp		1,492
	286,660		Highwoods Properties, Inc		13,548
	117,880	e	HKC Holdings Ltd		98
	2,624,012		Hongkong Land Holdings Ltd		17,380
	333	*	Hoshino Resorts REIT, Inc		1,639
	141,747		Hospitality Properties Trust		4,088
	2,109,636		Host Marriott Corp		44,513
	72,978	*	Howard Hughes Corp		9,065
	198,235		Huaku Development Co Ltd		434
	94,000		Huang Hsiang Construction Co		83
	539,337		Hudson Pacific Properties		17,647
	258,262		Hufvudstaden AB (Series A)		3,929
	129,217		Hulic Co Ltd		1,268
	745	*	Hulic Reit, Inc		1,083
	489,800		Hung Sheng Construction Co Ltd		486
	261,194		Hyprop Investments Ltd		1,705
	1,664,303		Hysan Development Co Ltd		8,405
	14,784		Icade		1,366
	164,700	e	Ichigo Holdings Co Ltd		618
	914	*	Ichigo Real Estate Investment Corp		753
	137,000	*,e	IDU Co		151
	1,126,700		IGB Real Estate Investment Trust		460
	57,000		Iguatemi Empresa de Shopping Centers S.A.		438
	221,246		Immobiliare Grande Distribuzione SIIQ S.p.A		1,700
	58,825	*	IMMOFINANZ AG.		1,534
	119,377		Independence Realty Trust, Inc		1,257
	1,676,229	*	Indiabulls Real Estate Ltd		2,032
	1,068		Industrial & Infrastructure Fund Investment Corp		1,077
	84,264	*	Industrial Buildings Corp		118
	28,887	e	Industrial Logistics Properties Trust		665
	319,600		ING Office Fund		1,275
	2,048,884		Ingenia Communities Group		4,443
	310,654		Inmobiliaria Colonial S.A.		3,222
	9,327	e	Innovative Industrial Properties, Inc		450
	917,271	*,g	Instone Real Estate Group AG.		26,098
	100,333		InterRent Real Estate Investment Trust		913
	737		Intershop Holding AG.		372
	24,996		Intervest Offices		665
	594,613	e	Intu Properties plc		1,194
	20,867		Invesco Office J-Reit, Inc		2,979
	3,663		Investis Holding S.A.		226
	27,200	e	Investors Cloud Co Ltd		177
	162,971		Investors Real Estate Trust		975
	25,097	e	Invincible Investment Corp		10,489
	968,053		Invitation Homes, Inc		22,178
	1,180,565		IOI Properties Group Sdn BHD		477
	981,646		Irish Residential Properties REIT plc		1,685
	519,744		Iron Mountain, Inc		17,942
	101,993	e	iShares Dow Jones US Real Estate Index Fund		8,161
	88,173		iStar Financial, Inc		985
	744	*	Japan Excellent, Inc		986

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,776		Japan Hotel REIT Investment Corp	$	2,748
	837	*	Japan Logistics Fund Inc		1,647
	455		Japan Prime Realty Investment Corp		1,622
	322		Japan Real Estate Investment Corp		1,688
	1,229	*	Japan Rental Housing Investments, Inc		971
	1,843		Japan Retail Fund Investment Corp		3,345
	279,285		JBG SMITH Properties		10,286
	24,683		Jernigan Capital, Inc		476
	133,616	*	Jerusalem Economy Ltd		375
	1,596,750	*,†,m	Jiangsu Future Land Co Ltd		6,546
	1,298,719		Jiayuan International Group Ltd		2,223
	55,400		Jinke Properties Group Co Ltd		42
	44,533		Jones Lang LaSalle, Inc		6,427
	13,000,000		Joy City Property Ltd		1,578
	2,237,403		K Wah International Holdings Ltd		1,059
	2,528,000		Kaisa Group Holdings Ltd		808
	37,900	*,e	Katitas Co Ltd		1,154
	679		Kenedix Realty Investment Corp		4,332
	627		Kenedix Residential Investment Corp		960
	761	*,e	Kenedix Retail REIT Corp		1,630
	1,821,000		Kenedix, Inc		10,393
	315,693		Kennedy-Wilson Holdings, Inc		6,787
	677,617	e	Keppel DC REIT		678
	444,800	e	Keppel-KBS US REIT		351
	2,044,670		Kerry Properties Ltd		6,943
	223,019		Killam Apartment Real Estate Investment Trust		2,785
	246,503		Kilroy Realty Corp		17,672
	179,487		Kimco Realty Corp		3,005
	198,000		Kindom Construction Co		141
	151,120		Kite Realty Group Trust		2,516
	1,201,973		Kiwi Property Group Ltd		1,108
	117,500		KLCC Property Holdings BHD		215
	269,205		Klepierre		9,566
	1,684,603	e	Klovern AB (B Shares)		2,214
	26,181		Korea Asset In Trust Co Ltd		132
	94,780		Korea Real Estate Investment Trust Co		238
	2,722,130		Kowloon Development Co Ltd		2,926
	1,753,344	e	K-REIT Asia		1,526
	643,105		Kungsleden AB		4,733
	1,419,087		KWG Property Holding Ltd		1,299
	1,633,314		Lai Fung Holdings Ltd		2,179
	485,285		Lai Sun Development Co Ltd		709
	49,666		Lamar Advertising Co		3,864
	19,704	*	Lamda Development S.A.		147
	3,194,300		Land and Houses PCL Co Reg		1,137
	296,056		Land Securities Group plc		3,409
	4,805,000		Langham Hospitality Investments Ltd		1,773
	262,117		Lar Espana Real Estate Socimi S.A.		2,669
	173,622		LaSalle Hotel Properties		6,006
	2,619	*	LaSalle Logiport REIT		2,409
	136,052		LEG Immobilien AG.		16,169
	404,718		Lend Lease Corp Ltd		5,750
	167,211		Leopalace21 Corp		931

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	294,096		Lexington Realty Trust	$	2,441
	321,411		Liberty Property Trust		13,580
	30,303		Life Storage, Inc		2,884
	764,997		Link REIT		7,532
	1,428,200		Lippo-Mapletree Indonesia Retail Trust		272
	262,000		Liu Chong Hing Investment		398
	1,854,000		Logan Property Holdings Co Ltd		2,089
	2,303,252		London & Stamford Property plc		5,333
	1,396,678		Longfor Properties Co Ltd		3,600
	386,900		LPN Development PCL (Foreign)		124
	16,697		LSR Group (GDR)		33
	99,516		LTC Properties, Inc		4,390
	58,070		Macerich Co		3,211
	296,483		Mack-Cali Realty Corp		6,303
	221,532		Macquarie CountryWide Trust		679
	1,328,435		Macquarie Goodman Group		9,965
	917,990	e	Macquarie MEAG Prime REIT		467
	1,615,576		Mah Sing Group BHD		399
	781,772	e	Manulife US Real Estate Investment Trust		622
	35,779	*,†,e,m	Mapeley Ltd		0	^
	1,640,282		Mapletree Commercial Trust		1,932
	1,406,600		Mapletree Greater China Commercial Trust		1,173
	1,142,399	e	Mapletree Industrial Trust		1,655
	1,605,610	e	Mapletree Logistics Trust		1,445
	110,048	*	Marcus & Millichap, Inc		3,820
	862,192		Matrix Concepts Holdings BHD		435
	6,663	*	Maui Land & Pineapple Co, Inc		85
	334,489		MedEquities Realty Trust, Inc		3,251
	409,938		Medical Properties Trust, Inc		6,112
	2,058,631		Medinet Nasr Housing		876
	94,620,328		Megaworld Corp		7,706
	36,776		Melisron Ltd		1,596
	38,903	e	Mercialys S.A		627
	360,269		Merlin Properties Socimi S.A.		4,885
	29,806	*,g	Metrovacesa S.A.		397
	2,321,500		Mexico Real Estate Management S.A. de C.V.		2,776
	1,126,981		MGM Growth Properties LLC		33,235
	2,017	*	MID Reit, Inc		1,534
	159,020		Mid-America Apartment Communities, Inc		15,931
	970,929		Midland Holdings Ltd		259
	3,966,000		Minmetals Land Ltd		673
	1,884,894		Mirvac Group		3,285
	814,498		Mitsubishi Estate Co Ltd		13,830
	740	*	Mitsubishi Estate Logistics REIT Investment Corp		1,608
	1,461,979		Mitsui Fudosan Co Ltd		34,577
	315	*	Mitsui Fudosan Logistics Park, Inc		884
	3,962		Mobimo Holding AG.		938
	602,000	e	Modern Land China Co Ltd		90
	622,259		Monmouth Real Estate Investment Corp (Class A)		10,404
	16,249		Morguard Real Estate Investment Trust		151
	1,233		Mori Hills REIT Investment Corp		1,567
	227		Mori Trust Hotel Reit, Inc		281
	1,223	*	Mori Trust Sogo Reit, Inc		1,744
	279,329		Multiplan Empreendimentos Imobiliarios S.A.		1,294

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,600	e	Nam Tai Property, Inc	$	134
	114,901		National Health Investors, Inc		8,685
	66,118		National Retail Properties, Inc		2,963
	378,589		National Storage Affiliates Trust		9,631
	2,509,247		National Storage REIT		3,031
	882,000	e	Neo-China Land Group Holdings Ltd		147
	367,360		NEPI Rockcastle plc		3,339
	9,561		NESCO Ltd		57
	103,160		New Senior Investment Group, Inc		609
	7,409,908		New World Development Co Ltd		10,064
	104,321		Newmark Group, Inc		1,167
	197,572	e	NewRiver REIT plc		663
	302,896		Nexity		16,741
	109,390		NexPoint Residential Trust, Inc		3,632
	334		Nippon Accommodations Fund, Inc		1,487
	611		Nippon Building Fund, Inc		3,533
	800	*,e	Nippon Healthcare Investment Corp		1,277
	8,457		Nippon ProLogis REIT, Inc		16,753
	2,834	*	NIPPON REIT Investment Corp		9,162
	355,458		Nomura Real Estate Holdings, Inc		7,171
	4,179		Nomura Real Estate Master Fund, Inc		5,708
	60,776		NorthStar Realty Europe Corp		861
	85,233		Northview Apartment Real Estate Investment Trust		1,692
	152,824		NorthWest Healthcare Properties Real Estate Investment Trust		1,326
	97,361		Norwegian Property ASA		129
	53,026		NSI NV		2,183
	181,100	e	NTT Urban Development Corp		2,077
	36,989		Oberoi Realty Ltd		207
	288,329	e	Omega Healthcare Investors, Inc		9,449
	95,745		One Liberty Properties, Inc		2,660
	193,300		Open House Co Ltd		9,523
	284,900		Origin Property PCL		152
	2,142		Orix JREIT, Inc		3,344
	269,212		OSK Holdings BHD		62
	653,800		OUE Hospitality Trust		345
	712,798		Outfront Media, Inc		14,220
	345,800	e	Overseas Union Enterprise Ltd		387
	785,881	*	Palm Hills Developments SAE		107
	706,408		Paramount Group, Inc		10,660
	793,045		Park Hotels & Resorts, Inc		26,028
	776,000		Parkway Life Real Estate Investment Trust		1,532
	693,005		Parque Arauco S.A.		1,796
	34,600		Patrizia Immobilien AG.		664
	515,900		Pavilion Real Estate Investment Trust		199
	107,202	e	Pebblebrook Hotel Trust		3,899
	93,689	e	Pennsylvania REIT		886
	261,515		Phoenix Mills Ltd		1,980
	679,156		Physicians Realty Trust		11,451
	173,194		Piedmont Office Realty Trust, Inc		3,279
	1,368,600		PLA Administradora Industrial S de RL de C.V.		2,100
	591,300		Platinum Group PCL		157
	1,253,817		Poly Hong Kong Investment Ltd		442

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	94,434		Poly Real Estate Group Co Ltd	$	167
	6,766,160		Polytec Asset Holdings Ltd		648
	190,509		Potlatch Corp		7,801
	6,217,000		Powerlong Real Estate Holdings Ltd		2,647
	671,344		Precinct Properties New Zealand Ltd		641
	358,991		Preferred Apartment Communities, Inc		6,311
	990	*	Premier Investment Co		1,040
	169,009		Prestige Estates Projects Ltd		489
	1,437,488		Primary Health Properties plc		2,137
	702,826		Prince Housing & Development Corp		251
	251,800		ProLogis Property Mexico S.A. de C.V.		509
	1,896,822		Prologis, Inc		128,586
	845,000		Prosperity REIT		329
	47,234		PS Business Parks, Inc		6,003
	38,062		PSP Swiss Property AG.		3,690
	8,135,500		PT Alam Sutera Realty Tbk		156
	8,870,447	*	PT Bumi Serpong Damai		687
	18,959,929		PT Ciputra Development Tbk		1,112
	43,762,000	*	PT Hanson International Tbk		382
	86,338,670		PT Kawasan Industri Jababeka Tbk		1,265
	33,216,600		PT Lippo Karawaci Tbk		766
	16,097,800		PT Modernland Realty Tbk		235
	19,338,900		PT Pakuwon Jati Tbk		669
	18,905,762		PT PP Properti Tbk		141
	9,425,500	*	PT Sentul City Tbk		70
	6,533,500		PT Summarecon Agung Tbk		288
	239,981		Public Storage, Inc		48,387
	1,625,000	*	Puravankara Projects Ltd		1,428
	493,604	*,e	Purplebricks Group plc		1,475
	486,821		QTS Realty Trust, Inc		20,773
	1,586,022		Quality House PCL		170
	402,433	*	Radium Life Tech Co Ltd		236
	3,829,009		RAK Properties PJSC		625
	106,910		Ramco-Gershenson Properties		1,454
	364,137		Rayonier, Inc		12,311
	170,600	*,e	Raysum Co Ltd		2,400
	110,875		Re/Max Holdings, Inc		4,917
	132,868	*	Realia Business S.A.		160
	254,130	e	Realogy Holdings Corp		5,245
	93,257		Realty Income Corp		5,305
	308,632	e	Rebosis Property Fund Ltd		142
	550,000	g	Redco Properties Group Ltd		279
	906,577		Redefine International plc		390
	5,488,985		Redefine Properties Ltd		3,889
	100,963	*,e	Redfin Corp		1,888
	25,874,000		Regal Real Estate Investment Trust		7,369
	686,669		Regency Centers Corp		44,407
	248,456	g	Regional REIT Ltd		314
	473,992		Reit  Ltd		1,926
	69,700		Relo Holdings, Inc		2,048
	13,731,250	*	Renhe Commercial Holdings Co Ltd		464
	239,528		Resilient REIT Ltd		984
	4,925		Retail Estates NV		423
	679,567		Retail Opportunities Investment Corp		12,688

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	413,336		Retail Properties of America, Inc	$	5,039
	74,979	*	Retail Value, Inc		2,451
	1,040,542		Rexford Industrial Realty, Inc		33,256
	245,525		RioCan Real Estate Investment Trust		4,691
	73,200		RiseSun Real Estate Development Co Ltd		85
	434,906		RLJ Lodging Trust		9,581
	26,006		RMR Group, Inc		2,413
	1,262,000		Road King Infrastructure		2,161
	2,510,264		Robinsons Land Corp		942
	336,500	*	Ronshine China Holdings Ltd		395
	1,059,090	m	Ruentex Development Co Ltd		1,237
	105,247		Ryman Hospitality Properties		9,069
	6,691,629		S.A. Corporate Real Estate Fund Nominees Pty Ltd		1,954
	1,798,773		Sabana Shari’ah Compliant Industrial REIT		567
	239,007		Sabra Healthcare REIT, Inc		5,526
	544,549		Safestore Holdings plc		3,688
	10,753		Safety Income and Growth, Inc		201
	222,000	*,e	SAMTY Co Ltd		3,215
	900	*	Samty Residential Investment Corp		716
	49,877,077		Sansiri PCL		2,562
	36,042		Saul Centers, Inc		2,018
	279,886		Savills plc		2,849
	182,871	*	SBA Communications Corp		29,375
	9,400		SC Asset Corp PCL		1
	8,585,504		Scentre Group		24,673
	815,925		Schroder Real Estate Investment Trust Ltd		637
	669,730		Segro plc		5,573
	3,047	*	Sekisui House Reit, Inc		1,928
	86,743		Select Income REIT		1,903
	148,639		Selvaag Bolig ASA		707
	125,173		Senior Housing Properties Trust		2,198
	43,713	e	Seritage Growth Properties		2,076
	498,000		Shaftesbury plc		5,884
	1,144,387		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,571
	3,428,000	*	Shanghai Real Estate Ltd		72
	52,400		Shanghai Zhangjiang High-Tech Park Development Co Ltd		76
	16,645,136		Shenzhen Investment Ltd		5,300
	132,300		Shenzhen SEG Co Ltd		48
	4,264,761		Shimao Property Holdings Ltd		10,591
	263,050	*	Shining Building Business Co Ltd		104
	32,500	*,e	Shinoken Group Co Ltd		345
	678,350		Shopping Centres Australasia Property Group		1,179
	20,059,000		Shui On Land Ltd		4,660
	1,100	*,e	SIA Reit, Inc		2,379
	611,900		Siam Future Development PCL		165
	7,649,660		Sime Darby Property BHD		2,180
	943,464		Simon Property Group, Inc		166,757
	1,518,500	*	Singha Estate PCL		170
	2,073,196		Sino Land Co		3,552
	1,094,000	*	Sinolink Worldwide Holdings Ltd		93
	20,181,581		Sino-Ocean Land Holdings Ltd		8,921

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	884,226		Sinyi Realty Co	$	979
	1,972,467		Sirius Real Estate Ltd		1,586
	126,479	*	Six of October Development & Investment		155
	4,399		SK D&D Co Ltd		137
	492,000		Skyfame Realty Holdings Ltd		307
	322,164		SL Green Realty Corp		31,421
	23,797,290		SM Prime Holdings		15,924
	51,344		Smart Real Estate Investment Trust		1,213
	381,453		Sobha Developers Ltd		2,098
	5,367,135		Soho China Ltd		2,086
	539,800	e	Soilbuild Business Space REIT		237
	20,400		Sonae Sierra Brasil S.A.		99
	1,517,491		SP Setia BHD		990
	132,778		Sparkassen Immobilien AG.		2,652
	502,700		SPH REIT		368
	57,899		Spirit MTA REIT		667
	219,829		Spirit Realty Capital, Inc		1,772
	526,000		Spring Real Estate Investment Trust		271
	123,306		ST Modwen Properties plc		611
	50,276	*,e	St. Joe Co		845
	617,221		STAG Industrial, Inc		16,974
	1,162,172		Standard Life Investment Property Income Trust Ltd		1,366
	6,295	e	Star Asia Investment Corp		5,744
	2,200	*,e	Starts Proceed Investment Corp		3,320
	851,728		Starwood Property Trust, Inc		18,329
	5,256,991		Stockland Trust Group		15,792
	623,000	e	StorageVault Canada, Inc		1,278
	196,933		STORE Capital Corp		5,473
	9,792		Stratus Properties, Inc		300
	296,692		Sumitomo Realty & Development Co Ltd		10,644
	307,073		Summit Hotel Properties, Inc		4,155
	72,410		Summit Real Estate Holdings Ltd		686
	433,211		Sun Communities, Inc		43,988
	284,100		Sun Frontier Fudousan Co Ltd		3,249
	1,866,334		Sun Hung Kai Properties Ltd		27,085
	2,574,522		Sunac China Holdings Ltd		7,889
	1,100,000	*,e	Suncity Group Holdings Ltd		188
	2,103,000		Sunlight Real Estate Investment Trust		1,413
	744,991		Sunstone Hotel Investors, Inc		12,188
	2,287,467		Suntec Real Estate Investment Trust		3,230
	1,830,047		Sunway BHD		668
	950,100		Sunway Real Estate Investment		388
	438,000		Supalai PCL		329
	1,215,193		Swire Pacific Ltd (Class A)		13,308
	4,278,316		Swire Properties Ltd		16,204
	82,394		Swiss Prime Site AG.		7,029
	650,533		TAG Tegernsee Immobilien und Beteiligungs AG.		15,500
	992,900	e	Takara Leben Co Ltd		2,995
	77	*	Takara Leben Infrastructure Fu		79
	556,790		Talaat Moustafa Group		343
	124,864	e	Tanger Factory Outlet Centers, Inc		2,857
	90,156		Taubman Centers, Inc		5,394
	187,117		Technopolis plc		1,014
	28,030	*	Tejon Ranch Co		609

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	326,524		Terreno Realty Corp	$	12,310
	130,309		Tier REIT, Inc		3,140
	316,758		TLG Immobilien AG.		8,278
	27,900	e	TOC Co Ltd		198
	421,300		Tokyo Tatemono Co Ltd		5,138
	110,831		Tokyu Fudosan Holdings Corp		772
	573	*	Tokyu REIT, Inc		792
	264,000		Top Spring International Holdings Ltd		80
	1,078,400		Tosei Corp		11,156
	2,900	*,e	Tosei Reit Investment Corp		2,915
	2,736	*,e	Transcontinental Realty Investors, Inc		87
	183,439	e	Tricon Capital Group, Inc		1,545
	28,506	*,e	Trinity Place Holdings, Inc		174
	5,166,311		Tritax Big Box REIT plc		9,918
	91,892,496	*	U City PCL		85
	143,278		UDR, Inc		5,793
	924,500		UEM Land Holdings BHD		185
	370,248		UMH Properties, Inc		5,791
	111,541		Unibail-Rodamco-Westfield		22,470
	8,502	*	Unibail-Rodamco-Westfield		1,710
	971,512		Unite Group plc		11,300
	4,500,000	*	Unitech Ltd		162
	140,382		United Development Co PSC		536
	945		United Urban Investment Corp		1,485
	356,374		Uniti Group, Inc		7,181
	460,400		Univentures PCL		118
	17,320		Universal Health Realty Income Trust		1,289
	297,000		Unizo Holdings Co Ltd		5,723
	353,885		UOA Development BHD		197
	223,373		UOL Group Ltd		1,126
	148,969		Urban Edge Properties		3,289
	63,775		Urstadt Biddle Properties, Inc (Class A)		1,358
	8,688		Vastned Retail NV		331
	733,770		Ventas, Inc		39,902
	429,578		VEREIT, Inc		3,119
	181,044		VICI Properties, Inc		3,914
	6,626,477		Vicinity Centres		12,572
	19,239	e	Victoria Park AB		79
	11,525,800		Vista Land & Lifescapes, Inc		1,299
	1,262,201		Viva Energy REIT		2,009
	380,900		Viva Industrial Trust		252
	53,959		Vornado Realty Trust		3,939
	2,686,185		Vukile Property Fund Ltd		3,831
	124,677	e	Wallenstam AB		1,180
	51,046		Warehouses De Pauw SCA		6,717
	254,358		Washington Prime Group, Inc		1,857
	106,601		Washington REIT		3,267
	646,116	e	Watkin Jones plc		1,649
	62,740		Weingarten Realty Investors		1,867
	801,589		Welltower, Inc		51,558
	29,609	e	Wereldhave NV		1,042
	1,322,688		Weyerhaeuser Co		42,683
	3,507,635		WHA Corp PCL		473

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,838,332		Wharf Holdings Ltd	$	10,451
	2,889,332		Wharf Real Estate Investment Co Ltd		18,615
	705,591		Wheelock & Co Ltd		4,242
	87,695		Whitestone REIT		1,217
	376,008		Wihlborgs Fastigheter AB		4,535
	280,840	e	Wing Tai Holdings Ltd		401
	250,160		Workspace Group plc		3,199
	49,820		WP Carey, Inc		3,204
	28,459		WPT Industrial Real Estate Investment Trust		373
	642,530		Xenia Hotels & Resorts, Inc		15,228
	10,000	e	Xinyuan Real Estate Co Ltd (ADR)		45
	1,561,600	e	Yanlord Land Group Ltd		1,690
	821,466	e	Yoma Strategic Holdings Ltd		159
	149,800		Youngor Group Co Ltd		161
	392,600		YTL Hospitality REIT		117
	896,000		Yuexiu Real Estate Investment Trust		588
	33,844,912		Yuexiul Property Co Ltd		6,040
	2,022,000		Yuzhou Properties Co		820
	1,258,000	*	Zhuguang Holdings Group Co Ltd		243
			TOTAL REAL ESTATE		4,191,471
RETAILING - 5.3%
	109,688	*	1-800-FLOWERS.COM, Inc (Class A)		1,294
	185,499		Aaron’s, Inc		10,102
	23,320	e	ABC-Mart, Inc		1,297
	313,657		Abercrombie & Fitch Co (Class A)		6,624
	3,008,873		Accent Group Ltd		3,546
	21,300	e	Adastria Holdings Co Ltd		285
	262,929		Advance Auto Parts, Inc		44,259
	10,400	e	Alpen Co Ltd		184
	1,223,907	*,n	Amazon.com, Inc		2,451,486
	361,392		American Eagle Outfitters, Inc		8,973
	31,307	*	America’s Car-Mart, Inc		2,448
	149,631	*,e	AO World plc		273
	22,500		AOKI Holdings, Inc		308
	26,941		Aoyama Trading Co Ltd		827
	8,000	e	Arata Corp		401
	119,600		Arc Land Sakamoto Co Ltd		1,627
	14,600		Asahi Co Ltd		193
	27,019	*	Asbury Automotive Group, Inc		1,858
	232,375	*	Ascena Retail Group, Inc		1,062
	12,700	e	ASKUL Corp		381
	694,349	*,e	ASOS plc		52,067
	206,741	*	At Home Group, Inc		6,519
	46,388	e	Autobacs Seven Co Ltd		796
	20,601	e	AutoCanada, Inc		217
	138,157	e	Automotive Holdings Group Ltd		221
	108,118	*	Autonation, Inc		4,492
	128,426	*	AutoZone, Inc		99,620
	2,193,562		B&M European Value Retail S.A.		11,055
	3,630,480	*	B2W Companhia Global Do Varejo		24,901
	507,169	*	Barnes & Noble Education, Inc		2,921
	78,031		Barnes & Noble, Inc		453
	1,329,800		Beauty Community PCL (Foreign)		498

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,875,623		Bed Bath & Beyond, Inc	$	58,134
	36,000	e	Belluna Co Ltd		425
	453,160		Berjaya Auto BHD		231
	456,128		Best Buy Co, Inc		36,198
	148,800		BIC CAMERA, Inc		2,068
	19,844	e	Big 5 Sporting Goods Corp		101
	53,195	e	Big Lots, Inc		2,223
	197,090		Bilia AB		1,607
	700,535	*,e	BJ’s Wholesale Club Holdings, Inc		18,760
	486,372	*	boohoo.com plc		1,477
	105,488	*	Booking Holdings, Inc		209,288
	213,861	*	Boot Barn Holdings, Inc		6,076
	327,212	*,e,g	Boozt AB		2,753
	537,000	*,†,e,m	Boshiwa International Holding		1
	38,957	e	Buckle, Inc		898
	217,645	*	Burlington Stores, Inc		35,459
	168,650		Burson Group Ltd		933
	40,604	e	Byggmax Group AB		166
	55,313		Caleres, Inc		1,984
	44,879	e	Camping World Holdings, Inc		957
	99,610		Canadian Tire Corp Ltd		11,671
	150,700		Canon Marketing Japan, Inc		3,197
	603,602	e	Card Factory plc		1,558
	529,754	*	CarMax, Inc		39,557
	80,835	*,e	Carvana Co		4,777
	13,840	e	Cashbuild Ltd		288
	31,492		Cato Corp (Class A)		662
	170,195		Chico’s FAS, Inc		1,476
	39,347		Children’s Place Retail Stores, Inc		5,029
	307,000	e	China Animation Characters Co Ltd		106
	449,000	e	China Harmony New Energy Auto Holding Ltd		187
	2,064,000	e	China Meidong Auto Holdings Ltd		969
	699,000	e	China ZhengTong Auto Services Holdings Ltd		458
	9,900	e	Chiyoda Co Ltd		195
	31,300		Chori Co Ltd		577
	567,000		Chow Sang Sang Holding		1,114
	97,600		Cia Hering		429
	167,357		Citi Trends, Inc		4,815
	13,273		CJ O Shopping Co Ltd		2,967
	27,350	e	Clas Ohlson AB (B Shares)		222
	367,000	e,g	Cogobuy Group		138
	9,887,800		Com7 PCL (Foreign)		6,884
	111,858	*,e	Conn’s, Inc		3,954
	309,559	*,e	Container Store Group, Inc		3,436
	465,853		Core-Mark Holding Co, Inc		15,820
	747,796	*	Ctrip.com International Ltd (ADR)		27,796
	643	*	Cuckoo Homesys Co Ltd		124
	3,042,714		Dah Chong Hong Holdings Ltd		1,182
	124,900	e	DCM Japan Holdings Co Ltd		1,135
	528,892	e	Debenhams plc		67
	22,215		Delek Automotive Systems Ltd		121
	239,584		Dick’s Sporting Goods, Inc		8,500
	492,286		Dickson Concepts International Ltd		221

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,900		Dieteren S.A.	$	964
	16,136	e	Dillard’s, Inc (Class A)		1,232
	1,211,248		Dollar General Corp		132,389
	751,818	*	Dollar Tree, Inc		61,311
	629,200		Dollarama, Inc		19,821
	90,100		Don Quijote Co Ltd		4,559
	13,100	e	Doshisha Co Ltd		272
	162,469		DSW, Inc (Class A)		5,504
	49,512	e	Dufry Group		5,594
	11,875	*,e	Duluth Holdings, Inc		374
	64,833		Dunelm Group plc		461
	178,417	g	Dustin Group AB		1,684
	254,883		EDION Corp		2,850
	65,188	*	eDreams ODIGEO S.A.		283
	810,736	e	El Puerto de Liverpool SAB de C.V.		6,084
	91,971		Empresas Tricot S.A.		141
	1,310,200	*,e	Esprit Holdings Ltd		315
	109,469	g	Europris ASA		307
	1,087,186		Expedia, Inc		141,856
	248,553	*	Express Parent LLC		2,749
	4,208,000		Far Eastern Department Stores Co Ltd		2,356
	1,071,966	*	Farfetch Ltd		29,190
	64,512		Fast Retailing Co Ltd		32,682
	152,006	*	Five Below, Inc		19,770
	1,334,388	*	Floor & Decor Holdings, Inc		40,259
	506,638		Foot Locker, Inc		25,828
	326,455		Foschini Ltd		4,006
	47,239	*,e	Francesca’s Holdings Corp		175
	12,500		Fuji Co Ltd		246
	14,749	*,e	Funko, Inc		349
	28,671		Future Lifestyle Fashions Ltd		157
	16,466	*	Gaia, Inc		254
	135,672	e	GameStop Corp (Class A)		2,072
	675,648		Gap, Inc		19,492
	26,268	*	Genesco, Inc		1,237
	266,090		Genuine Parts Co		26,449
	214,500	e	Geo Holdings Corp		3,244
	2,202,000		Giordano International Ltd		1,104
	119,402	*,e	GNC Holdings, Inc		494
	11,089,844	*,e	GOME Electrical Appliances Holdings Ltd		1,133
	458,500	e	Grand Baoxin Auto Group Ltd		135
	63,606	e	Greencross Ltd		195
	25,220		Group 1 Automotive, Inc		1,637
	12,362	*	Groupe Fnac		975
	4,770,169	*	Groupon, Inc		17,984
	10,117		GS Home Shopping, Inc		1,848
	78,373		Guess?, Inc		1,771
	57,800	e	Gulliver International Co Ltd		196
	333		GwangjuShinsegae Co Ltd		62
	125,105		Halfords Group plc		516
	55,525	e	Hankyu Department Stores, Inc		913
	392,407	e	Harvey Norman Holdings Ltd		998
	56,463		Haverty Furniture Cos, Inc		1,248
	24,654	*,†,m	Hellenic Duty Free Shops S.A.		34

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,041	*	HelloFresh SE	$	600
	4,161,037		Hengdeli Holdings Ltd		168
	616,243	e	Hennes & Mauritz AB (B Shares)		11,388
	195,745	*,e	Hibbett Sports, Inc		3,680
	25,471		Hikari Tsushin, Inc		5,034
	3,115,825		Home Depot, Inc		645,443
	26,284,294		Home Product Center PCL (Foreign)		12,849
	8,178		Hornbach Baumarkt AG.		250
	6,750		Hornbach Holding AG. & Co KGaA		473
	53,689	g	Hostelworld Group plc		155
	244,518		Hotai Motor Co Ltd		2,094
	130,699		Hotel Shilla Co Ltd		12,780
	499,477	*	Hudson Ltd		11,268
	75,427	e	Hudson’s Bay Co		566
	35,791		Hyundai Department Store Co Ltd		3,207
	11,831		Hyundai Home Shopping Network Corp		1,184
	138,128		Imperial Holdings Ltd		1,708
	314,174		Inchcape plc		2,736
	1,800,313		Industria De Diseno Textil S.A.		54,390
	56,850		Infibeam Incorporation Ltd		46
	237,328	e	Isetan Mitsukoshi Holdings Ltd		2,914
	1,350,000		IT Ltd		728
	27,400		Izumi Co Ltd		1,820
	163,179		J Front Retailing Co Ltd		2,531
	88,689	*	J. Jill, Inc		548
	48,851	e	Jardine Cycle & Carriage Ltd		1,143
	423,623	e	JB Hi-Fi Ltd		7,704
	426,798	*,e	JC Penney Co, Inc		708
	1,758,356		JD Sports Fashion plc		10,508
	836,400	*	JD.com, Inc (ADR)		21,822
	10,100	e	Jin Co Ltd		539
	48,892		John Menzies plc		349
	9,500		Joshin Denki Co Ltd		280
	32,600		Joyful Honda Co Ltd		515
	114,871		JUMBO S.A.		1,707
	47,400	*,e	Jumei International Holding Ltd (ADR)		101
	21,187		Keiyo Co Ltd		103
	255,873		Kering		137,239
	1,183,703		Kingfisher plc		4,002
	5,200	*,e	Kintetsu Department Store Co Ltd		181
	130,200	*	Kirkland’s, Inc		1,314
	181,919		Kogan.com Ltd		744
	826,800		Kohl’s Corp		61,638
	16,900		Kohnan Shoji Co Ltd		427
	82,000		Komeri Co Ltd		1,917
	481,100		K’s Holdings Corp		5,818
	215,014		L Brands, Inc		6,515
	1,188,750		L’ Occitane International S.A.		2,132
	83,545	*,e	Lands’ End, Inc		1,466
	24,300	*	Laox Co Ltd		85
	4,098,599		Li & Fung Ltd		918
	314,783	*	Liberty Expedia Holdings, Inc		14,807
	655,484	*	Liberty TripAdvisor Holdings, Inc		9,734

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	347,000	*,e	Lifestyle China Group Ltd	$	141
	426,000		Lifestyle International Holdings Ltd		835
	30,845	e	Lithia Motors, Inc (Class A)		2,519
	16,900		LIXIL VIVA Corp		262
	136,538	*	LKQ Corp		4,324
	500,000		Lojas Americanas S.A.		1,480
	1,696,594		Lojas Americanas S.A.(Preference)		6,667
	1,007,089		Lojas Renner S.A.		7,730
	204,440		Lookers plc		284
	83,751		LOTTE Himart Co Ltd		5,037
	21,938		Lotte Shopping Co Ltd		4,146
	911,122		Lowe’s Companies, Inc		104,615
	1,414,000		Luk Fook Holdings International Ltd		4,920
	39,709	*,e	Lumber Liquidators, Inc		615
	2,390,059		Macy’s, Inc		83,007
	108,368		Magazine Luiza S.A.		3,287
	28,731	g	Maisons du Monde S.A.		838
	724,000		Maoye International Holdings Ltd		60
	30,216	*	MarineMax, Inc		642
	614,758		Marks & Spencer Group plc		2,313
	240,223	e	Marui Co Ltd		5,927
	98,375		Matas A.S.		962
	17,200	e	Matsuya Co Ltd		196
	13,942	e	Mekonomen AB		198
	114,626		Metro AG.		810
	112,550	*	Michaels Cos, Inc		1,827
	25,740	e	Mobilezone Holding AG.		304
	29,000		momo.com, Inc		169
	42,082	e	Monro Muffler, Inc		2,929
	256,460		Mr Price Group Ltd		4,136
	114,607	*	Murphy USA, Inc		9,794
	471,206	e	Myer Holdings Ltd		174
	95,968		N Brown Group plc		171
	64,116	*	National Vision Holdings, Inc		2,894
	1,071,367	*	NetFlix, Inc		400,831
	980,045		New Carphone Warehouse plc		2,160
	29,933	*	New York & Co, Inc		116
	130,776		Next plc		9,359
	25,700	*,e	Nextage Co Ltd		195
	29,400		Nishimatsuya Chain Co Ltd		295
	59,022		Nitori Co Ltd		8,458
	152,800		Nojima Corp		3,346
	456,038		Nordstrom, Inc		27,276
	9,577		NS Shopping Co Ltd		111
	39,683	e	Nutri/System, Inc		1,470
	470,776	*	Ocado Ltd		5,515
	752,315		Office Depot, Inc		2,415
	122,801	*	Ollie’s Bargain Outlet Holdings, Inc		11,801
	267,157	e,g	On the Beach Group plc		1,724
	6,500	*	Open Door, Inc		191
	167,974	*	O’Reilly Automotive, Inc		58,341
	27,454	*,e	Overstock.com, Inc		760
	1,234,100		Padini Holdings BHD		1,753
	7,600		Pal Co Ltd		191

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	106,800		Paltac Corp	$	5,838
	15,000	e	Parco Co Ltd		168
	677,000	*,e	Parkson Retail Group Ltd		65
	220,329	*,e	Party City Holdco, Inc		2,985
	25,700	e	PC Depot Corp		125
	66,239		PC Jeweller Ltd		57
	840,750		Pendragon plc		298
	125,119		Penske Auto Group, Inc		5,929
	26,639	e	PetMed Express, Inc		879
	369,800		Petrobras Distribuidora S.A.		1,786
	315,492	e	Pets at Home Group plc		491
	95,121		Pier 1 Imports, Inc		143
	57,323	*,e	Pinduoduo, Inc (ADR)		1,507
	71,689		Pool Corp		11,963
	5,252,500		Pou Sheng International Holdings Ltd		1,047
	876,000	*,e	Powerwell Pacific Holdings Ltd		251
	38,701		Poya Co Ltd		353
	60,105		Premier Investments Ltd		803
	3,875,800		PT ACE Hardware Indonesia Tbk		375
	2,297,023		PT Matahari Department Store Tbk		1,067
	25,658,300		PT Mitra Adiperkasa Tbk		1,421
	7,051,200		PT Ramayana Lestari Sentosa Tbk		615
	402,800		PTG Energy PCL		167
	2,248,945	*	Qurate Retail Group, Inc QVC Group		49,949
	231,118		Rakuten, Inc		1,771
	226,150		Rent-A-Center, Inc		3,252
	61,744	*,e	RH		8,089
	298,831		Ripley Corp S.A.		279
	361,700		Robinson PCL		789
	561,843		Ross Stores, Inc		55,679
	25,900		Ryohin Keikaku Co Ltd		7,699
	7,972,490		SA SA International Holdings Ltd		4,418
	731,886		SACI Falabella		5,957
	161,325	*	Sally Beauty Holdings, Inc		2,967
	31,900		Sanrio Co Ltd		647
	261,000		Senao International Co Ltd		347
	14,625		Seobu Truck Terminal Co Ltd		136
	30,800	e	Seria Co Ltd		1,088
	36,059		Shankara Building Products Ltd		612
	28,000		Shimachu Co Ltd		904
	16,003		Shimamura Co Ltd		1,518
	46,249		Shinsegae Co Ltd		15,120
	1,567		Shinsegae International Co Ltd		322
	51,378		Shoe Carnival, Inc		1,978
	5,613	*,g	Shop Apotheke Europe NV		282
	12,294		Shopper’s Stop Ltd		89
	44,660	*	Shutterfly, Inc		2,943
	886,287		Siam Global House PCL		576
	79,099		Signet Jewelers Ltd		5,215
	60,523	e,g	Sleep Country Canada Holdings, Inc		1,351
	185,067	*	Sleep Number Corp		6,807
	30,703		Sonic Automotive, Inc (Class A)		594
	140,320	*	Sports Direct International plc		623

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	52,099	*,e	Sportsman’s Warehouse Holdings, Inc	$	305
	12,893	*,e,g	SRP Groupe S.A.		85
	233,616		Start Today Co Ltd		7,067
	18,918	*,e	Stockmann Oyj Abp (B Share)		85
	175,400		Suning.com Co Ltd		344
	201,805	e	Super Cheap Auto Group Ltd		1,293
	208,080	*	Super Group Ltd		589
	49,558		SuperGroup plc		701
	146,845	e	Tailored Brands, Inc		3,699
	99,809		Takashimaya Co Ltd		1,686
	21,838		Takkt AG.		346
	1,187,741		Target Corp		104,771
	56,200		Telepark Corp		1,468
	7,259,099		Test-Rite International Co		5,563
	567,494		Tiffany & Co		73,190
	56,920		Tile Shop Holdings, Inc		407
	285,178		Tilly’s, Inc		5,404
	1,403,902		TJX Companies, Inc		157,265
	36,295		Tokmanni Group Corp		317
	11,700	*,e	Tokyo Base Co Ltd		66
	9,500	e	Tokyo Derica Co Ltd		79
	267,297		Tractor Supply Co		24,292
	354,751		Trade Me Ltd		1,226
	212,770	*	TripAdvisor, Inc		10,866
	638,030		Truworths International Ltd		3,763
	479,534	*	Ulta Beauty, Inc		135,286
	25,363	e	Uni-Select, Inc		432
	44,299		United Arrows Ltd		1,885
	365,533	*	Urban Outfitters, Inc		14,950
	156,386		USS Co Ltd		2,903
	2,212		Valora Holding AG.		594
	3,287,100		Via Varejo S.A.		12,144
	1,242,300	*	Vipshop Holdings Ltd (ADR)		7,752
	5,200		V-Mart Retail Ltd		180
	46,800	e	VT Holdings Co Ltd		207
	84,806	*,e	Wayfair, Inc		12,523
	1,020,000	*,e	We Solutions Ltd		130
	75,349		Webjet Ltd		840
	14,888		Weyco Group, Inc		524
	351,981		WH Smith plc		9,451
	294,792	e	Williams-Sonoma, Inc		19,374
	3,171		Winmark Corp		526
	907,762		Woolworths Holdings Ltd		3,183
	161,400		Xebio Co Ltd		2,354
	61,041	e,g	XXL ASA		314
	689,204	e	Yamada Denki Co Ltd		3,487
	71,300		Yellow Hat Ltd		1,906
	82,800		Yume No Machi Souzou Iinkai Co Ltd		2,666
	21,717	*,g	Zalando SE		844
	662,000		Zhongsheng Group Holdings Ltd		1,607
	3,934	*	zooplus AG.		683
	221,419	*	Zumiez, Inc		5,834
			TOTAL RETAILING		6,639,605

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.4%
	486,662	*,e	Acacia Communications, Inc	$	20,133
	7,849	*,e	ACM Research, Inc		87
	2,584,615		A-DATA Technology Co Ltd		4,163
	26,192	*,e	Adesto Technologies Corp		156
	203,323	*	Advanced Energy Industries, Inc		10,502
	3,666,067	*,e	Advanced Micro Devices, Inc		113,245
	6,279	*	Advanced Process Systems Corp		147
	89,000		Advanced Wireless Semiconductor Co		141
	319,200	e	Advantest Corp		6,746
	430,542	*,e	Aixtron AG.		4,351
	61,800	*	Alpha & Omega Semiconductor Ltd		719
	44,077	*,e	Ambarella, Inc		1,705
	458,548	*	Amkor Technology, Inc		3,389
	60,180	e	ams AG.		3,387
	486,064		Analog Devices, Inc		44,941
	2,600	e	AOI Electronics Co Ltd		89
	2,618,379		Applied Materials, Inc		101,200
	200,000	*	APS Holdings Corp		966
	26,580	*,e	Aquantia Corp		340
	228,738		Ardentec Corp		273
	7,620,245		ASE Industrial Holding Co Ltd		18,613
	30,350		ASM International NV		1,572
	716,004		ASM Pacific Technology		7,317
	14,884		ASMedia Technology, Inc		262
	658,544		ASML Holding NV		123,645
	17,000		ASPEED Technology, Inc		340
	21,446	*	Atto Co Ltd		96
	73,685	*	Axcelis Technologies, Inc		1,448
	53,140	*	AXT, Inc		380
	380,150		BE Semiconductor Industries NV		8,022
	179,000	e	BOE Varitronix Ltd		59
	1,386,989		Broadcom, Inc		342,212
	169,192		Brooks Automation, Inc		5,927
	34,336		Cabot Microelectronics Corp		3,542
	28,584	*	Ceva, Inc		822
	7,000		Chang Wah Technology Co Ltd		66
	572,000	e	China Electronics Corp Holdings Co Ltd		58
	11,538	*,†,m	China Energy Savings Technology, Inc		0
	3,427,100		Chipbond Technology Corp		6,611
	177,000		ChipMOS Technologies, Inc		137
	162,437	*	Cirrus Logic, Inc		6,270
	122,257		Cohu, Inc		3,069
	1,195,164	*	Cree, Inc		45,261
	1,284,151		Cypress Semiconductor Corp		18,607
	24,823		Dainippon Screen Manufacturing Co Ltd		1,460
	7,900	*,e	Daqo New Energy Corp (ADR)		206
	48,394	*	Dialog Semiconductor plc		1,059
	473,247	*	Diodes, Inc		15,754
	43,800		Disco Corp		7,335
	136,812		Dongbu HiTek Co Ltd		1,951
	222,000		Elan Microelectronics Corp		370
	91,801		Elite Advanced Laser Corp		203

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	170,000		Elite Semiconductor Memory Technology, Inc	$	185
	25,615		Elmos Semiconductor AG.		541
	50,571		eMemory Technology, Inc		480
	356,941		Entegris, Inc		10,333
	5,349		Eo Technics Co Ltd		254
	616,000		Epistar Corp		699
	7,646		Eugene Technology Co Ltd		98
	382,000		Everlight Electronics Co Ltd		390
	174,060		Faraday Technology Corp		311
	25,700		Ferrotec		250
	221,732	*	First Solar, Inc		10,736
	232,000		Forhouse Corp		164
	98,089	*	Formfactor, Inc		1,349
	222,000		Formosa Advanced Technologies Co Ltd		244
	38,850		Foxsemicon Integrated Technology, Inc		176
	12,714,308	*,e	GCL Poly Energy Holdings Ltd		893
	14,952	*,e	GemVax & Kael Co Ltd		199
	20,686		Giga Solar Materials Corp		89
	355,454	*,m	Gintech Energy Corp		170
	55,000		Global Unichip Corp		488
	575,000		Globalwafers Co Ltd		6,336
	281,933		Globetronics Technology BHD		170
	908,000		Greatek Electronics, Inc		1,500
	341,000		Hana Microelectronics PCL (Foreign)		417
	15,479		Hanmi Semiconductor Co Ltd		144
	11,418	*	Hansol LCD, Inc		86
	111,000		Holtek Semiconductor, Inc		288
	540,000	g	Hua Hong Semiconductor Ltd		1,158
	799,781		Hynix Semiconductor, Inc		52,912
	31,964	*,e	Ichor Holdings Ltd		653
	22,098	*,e	Impinj, Inc		548
	1,657,040		Infineon Technologies AG.		37,707
	3,691	*	Innox Advanced Materials Co Ltd		177
	583,250	*,e	Inphi Corp		22,152
	287,616	*	Integrated Device Technology, Inc		13,521
	9,840,133	n	Intel Corp		465,340
	454,740	*,e	IQE plc		489
	44,200		Japan Material Co Ltd		593
	40,500	*,e	JinkoSolar Holding Co Ltd (ADR)		436
	23,419		Jusung Engineering Co Ltd		169
	6,324		KC Tech Co Ltd		84
	787,000		King Yuan Electronics Co Ltd		525
	174,000		Kinsus Interconnect Technology Corp		296
	370,511		Kla-Tencor Corp		37,685
	8,020		Koh Young Technology, Inc		789
	87,376	*,e	Kopin Corp		211
	8,300		L&F Co Ltd		328
	297,356		Lam Research Corp		45,109
	43,800		Land Mark Optoelectronics Corp		410
	28,200		Lasertec Corp		942
	1,338,880	*	Lattice Semiconductor Corp		10,711
	8,232		LEENO Industrial Inc		489
	100,726		Lextar Electronics Corp		66
	131,048		Lite-On Semiconductor Corp		128

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	36,500		LONGi Green Energy Technology Co Ltd	$	75
	25,000		Machvision, Inc		304
	61,187	*,e	MA-COM Technology Solutions		1,260
	1,563,668		Macronix International		1,303
	194,400		Malaysian Pacific Industries BHD		571
	4,358,400		Marvell Technology Group Ltd		84,117
	694,082		Maxim Integrated Products, Inc		39,139
	81,671	*	MaxLinear, Inc		1,624
	5,065,994		MediaTek, Inc		40,878
	2,006		Meerecompany, Inc		158
	9,700	e	Megachips Corp		204
	13,321		Melexis NV		1,031
	62,634	*	Mellanox Technologies Ltd		4,600
	386,619	*,e	Meyer Burger Technology AG.		271
	286,615	e	Microchip Technology, Inc		22,617
	2,452,571	*	Micron Technology, Inc		110,930
	24,000	e	Micronics Japan Co Ltd		169
	40,400		Mimasu Semiconductor Industry Co Ltd		648
	13,800	e	Mitsui High-Tec, Inc		195
	189,893		MKS Instruments, Inc		15,220
	153,540		Monolithic Power Systems, Inc		19,274
	325,118	*	Motech Industries, Inc		108
	30,350	*	Nanometrics, Inc		1,139
	1,608,000		Nanya Technology Corp		3,071
	569,324	*	Neo Solar Power Corp		196
	50,415	*,e	NeoPhotonics Corp Ltd		418
	95,085	*,e	Nordic Semiconductor ASA		547
	61,751	*	Nova Measuring Instruments Ltd		1,637
	1,822,752		Novatek Microelectronics Corp Ltd		8,995
	2,500		Nuflare Technology, Inc		130
	60,000		Nuvoton Technology Corp		87
	6,678		NVE Corp		707
	1,754,362		NVIDIA Corp		493,011
	1,609,496	*	NXP Semiconductors NV		137,612
	1,483,103	*	ON Semiconductor Corp		27,334
	21,440		On-Bright Electronics, Inc		129
	9,500	*,e	Optorun Co Ltd		243
	188,127		Orise Technology Co Ltd		157
	240,000	*	Pan Jit International, Inc		253
	47,401		Parade Technologies Ltd		723
	39,534	*	PDF Solutions, Inc		357
	134,895		Phison Electronics Corp		1,075
	349,625	*	Photronics, Inc		3,444
	68,613		Pixart Imaging, Inc		254
	46,866		Power Integrations, Inc		2,962
	631,397		Powertech Technology, Inc		1,720
	9,049		PSK, Inc		137
	234,506	*	Qorvo, Inc		18,031
	3,275,283	n	QUALCOMM, Inc		235,919
	2,401,000		Radiant Opto-Electronics Corp		5,422
	221,998	*	Rambus, Inc		2,422
	1,946,333		Realtek Semiconductor Corp		8,673
	1,282,788	*,e	REC Silicon ASA		99

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	434,785	*	Renesas Electronics Corp	$	2,722
	518,808		Rohm Co Ltd		37,956
	2,700	*,e	RS Technologies Co Ltd		130
	331,415	*	Rudolph Technologies, Inc		8,103
	7,339,691		Samsung Electronics Co Ltd		307,172
	1,029,356		Samsung Electronics Co Ltd (Preference)		35,108
	55,938		Sanan Optoelectronics Co Ltd		133
	14,800	e	Sanken Electric Co Ltd		389
	62,000		SDI Corp		162
	2,743,047	*,e	Semiconductor Manufacturing International Corp		2,956
	382,788	*	Semtech Corp		21,283
	23,754		Seoul Semiconductor Co Ltd		439
	166,000	*	Shanghai Fudan Microelectronics Group Co Ltd		172
	9,600		Shindengen Electric Manufacturing Co Ltd		459
	980,000	*,e	Shinkawa Ltd		5,044
	865,800	e	Shinko Electric Industries		7,287
	28,000		ShunSin Technology Holding Ltd		89
	230,000		Sigurd Microelectronics Corp		254
	40,934		Silergy Corp		737
	58,451	*	Silicon Laboratories, Inc		5,366
	7,220		Silicon Works Co Ltd		264
	197,894		Siltronic AG.		24,201
	347,000		Sino-American Silicon Products, Inc		890
	162,000		Sitronix Technology Corp		445
	532,005		Skyworks Solutions, Inc		48,258
	6,378		SMA Solar Technology AG.		149
	13,529	*	SMART Global Holdings, Inc		389
	11,915	*	SOITEC		827
	988,646		STMicroelectronics NV		18,095
	46,810	*	STS Semiconductor & Telecommunications		82
	353,634		Sumco Corp		5,152
	87,556	*	SunPower Corp		639
	898,300		SVI PCL (Foreign)		156
	666,000		Taiwan Semiconductor Co Ltd		1,306
	36,859,058		Taiwan Semiconductor Manufacturing Co Ltd		314,538
	418,650		Teradyne, Inc		15,482
	8,384		TES Co Ltd		125
	1,930,007		Texas Instruments, Inc		207,070
	2,826		Tokai Carbon Korea Co Ltd		156
	149,246	e	Tokyo Electron Ltd		20,569
	55,900		Tokyo Seimitsu Co Ltd		1,457
	639,550		Topco Scientific Co Ltd		1,479
	14,911	e	Toptec Co Ltd		181
	218,265	*	Tower Semiconductor Ltd		4,787
	1,746,000	*,†,m	Trony Solar Holdings Co Ltd.		2
	4,508	e	U-Blox AG.		646
	51,400	e	UKC Holdings Corp		1,185
	50,337	*	Ultra Clean Holdings		632
	93,000		Ulvac, Inc		3,491
	574,300		Unisem M BHD		430
	42,314,871		United Microelectronics Corp		22,326
	179,617	e	Universal Display Corp		21,177
	821,228		Vanguard International Semiconductor Corp		1,833
	65,484	*	Veeco Instruments, Inc		671

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	170,825		Versum Materials, Inc	$	6,151
	138,000	*	Via Technologies, Inc		161
	101,068		Visual Photonics Epitaxy Co Ltd		252
	80,800		ViTrox Corp BHD		156
	307,975		Wafer Works Corp		438
	2,057,800		Win Semiconductors Corp		9,059
	2,398,000		Winbond Electronics Corp		1,140
	16,669		WONIK IPS Co Ltd		337
	117,073	*	Xcerra Corp		1,671
	93,298	*,e,g	X-Fab Silicon Foundries SE		721
	576,621		Xilinx, Inc		46,228
	103,000	*	XinTec, Inc		150
	3,047,725	e	Xinyi Solar Holdings Ltd		942
	96,167		Xperi Corp		1,428
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		4,195,457
SOFTWARE & SERVICES - 13.2%
	42,000	*	21Vianet Group, Inc (ADR)		424
	85,092	*	2U, Inc		6,398
	94,200	*	58.COM, Inc (ADR)		6,933
	123,145	*	8x8, Inc		2,617
	260,949	*	A10 Networks, Inc		1,587
	1,636,040		Accenture plc		278,454
	154,950	*	ACI Worldwide, Inc		4,360
	2,171,524		Activision Blizzard, Inc		180,649
	11,513		Addcn Technology Co Ltd		106
	1,007,723	*	Adobe Systems, Inc		272,035
	3,540	*,g	Adyen NV		2,889
	237,151	*	Afterpay Touch Group Ltd		3,082
	2,200,000	*,e	AGTech Holdings Ltd		169
	4,046		Ahnlab, Inc		194
	50,800		Aisino Corp		205
	274,198	*	Akamai Technologies, Inc		20,058
	3,200	*,e	Akatsuki, Inc		132
	41,709	*,e	Alarm.com Holdings, Inc		2,394
	53,147	*,g	Alfa Financial Software Holdings plc		95
	2,182,893	*	Alibaba Group Holding Ltd (ADR)		359,653
	143,834		Alliance Data Systems Corp		33,968
	249,787		Alpha Systems, Inc		6,410
	767,591	*	Alphabet, Inc (Class A)		926,544
	1,021,583	*	Alphabet, Inc (Class C)		1,219,229
	110,973	*	Altair Engineering, Inc		4,822
	33,209		Alten		3,416
	78,334	*,e	Alteryx, Inc		4,481
	687,455		Altium Ltd		13,576
	156,339		Altran Technologies S.A.		1,356
	551,299		Amadeus IT Holding S.A.		51,099
	127,916	*	Amber Road, Inc		1,231
	261,293		Amdocs Ltd		17,240
	35,981	*	American Software, Inc (Class A)		436
	181,526	*,e	ANGI Homeservices, Inc		4,262
	98,926	*	Ansys, Inc		18,467
	58,858		Appen Ltd		594

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,026	*	Appfolio, Inc	$	3,687
	83,290	*	Apptio, Inc		3,078
	214,687	*	Aspen Technology, Inc		24,455
	296,921		Asseco Poland S.A.		3,838
	14,292	*,e	Asure Software, Inc		178
	7,100	e	Ateam, Inc		121
	83,302	*	Atlassian Corp plc		8,009
	90,199		Atos Origin S.A.		10,732
	12,641		Aubay		581
	1,205,187	g	Auto Trader Group plc		7,011
	188,786	*	Autodesk, Inc		29,471
	99,233	e	Autohome, Inc (ADR)		7,682
	953,237		Automatic Data Processing, Inc		143,615
	11,872	*,e	Avalara, Inc		415
	141,603	*	Avaya Holdings Corp		3,135
	50,527		Aveva Group plc		1,905
	4,064	e	Axway Software S.A.		78
	584,774	*	Baidu, Inc (ADR)		133,726
	43,253	*,e	Baozun, Inc (ADR)		2,101
	33,768		Bechtle AG.		3,428
	2,600		Beijing Shiji Information Technology Co Ltd		13
	50,896	*,e	Benefitfocus, Inc		2,059
	14,600	*,e	Bitauto Holdings Ltd (ADR)		336
	500,948	*	Black Knight, Inc		26,024
	64,658		Blackbaud, Inc		6,561
	406,613	*	Blackberry Ltd (New)		4,602
	168,140	*	Blackline, Inc		9,495
	63,481	*	Blucora, Inc		2,555
	403,939	*,e	Blue Prism Group plc		12,495
	505,076		Booz Allen Hamilton Holding Co		25,067
	54,281	*	Bottomline Technologies, Inc		3,947
	377,920	*	Box, Inc		9,036
	317,000	*,e	Boyaa Interactive International Ltd		76
	47,488	*	Brightcove, Inc		399
	58,600		Broadleaf Co Ltd		423
	253,599		Broadridge Financial Solutions, Inc		33,462
	20,880		Brogent Technologies, Inc		107
	414,027		CA, Inc		18,279
	160,000		CAC Holdings Corp		1,618
	89,366	*	CACI International, Inc (Class A)		16,457
	676,531	*	Cadence Design Systems, Inc		30,660
	3,442	*	Cafe24 Corp		464
	39,612		Cancom SE		1,787
	291,360		Cap Gemini S.A.		36,682
	322,572		Capcom Co Ltd		8,181
	11,911	*,e	Carbon Black, Inc		252
	42,131	*	Carbonite, Inc		1,502
	8,079	*,e	Cardlytics, Inc		202
	52,317	*	Cardtronics plc		1,655
	326,174	*	Care.com, Inc		7,212
	227,926	*,e	Cargurus, Inc		12,693
	94,375	*	Cars.com, Inc		2,606
	167,134		carsales.com Ltd		1,747
	15,540		Cass Information Systems, Inc		1,012

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,724	*,e	Catena Media plc	$	205
	68,557	*	CD Projekt Red S.A.		3,481
	323,042		CDK Global, Inc		20,210
	35,218	*,e	Ceridian HCM Holding, Inc		1,480
	247,761	*	CGI Group, Inc		15,975
	12,200		Changyou.com Ltd (ADR)		161
	43,000	*	Chanjet Information Technology Co Ltd		56
	106,020	*	ChannelAdvisor Corp		1,320
	193,618	*	Check Point Software Technologies		22,783
	1,278,000	e	Chinasoft International Ltd		852
	1,135,813		Cielo S.A.		3,445
	72,841	*	Cision Ltd		1,224
	297,642	*	Citrix Systems, Inc		33,086
	792,111	*	Cloudera, Inc		13,981
	1,161,947		Cognizant Technology Solutions Corp (Class A)		89,644
	35,900	e	COLOPL, Inc		233
	7,245		Com2uSCorp		957
	52,870	*	Commvault Systems, Inc		3,701
	395,777		Computacenter plc		6,526
	17,400	*	Computer Engineering & Consulting Ltd		425
	677,937		Computershare Ltd		9,763
	7,700	*,e	Comture Corp		295
	177,393	*	Conduent, Inc		3,995
	37,464		Constellation Software, Inc		27,551
	36,462		ConvergeOne Holdings, Inc		339
	225,811		Convergys Corp		5,361
	50,900		COOKPAD, Inc		204
	72,280	*	Cornerstone OnDemand, Inc		4,102
	205,185	*	Coupa Software, Inc		16,230
	75,000	e	CROOZ, Inc		1,793
	102,287		CSG Systems International, Inc		4,106
	94,637	*	CyberArk Software Ltd		7,556
	732,699		Dassault Systemes S.A.		109,639
	399,600		Datasonic Group BHD		69
	78,710	*,g	Delivery Hero AG.		3,780
	344,388	*	Dell Technologies, Inc-VMware Inc		33,447
	227,500		Dena Co Ltd		4,017
	524,255	*	Descartes Systems Group, Inc		17,782
	12,577		Devoteam S.A.		1,611
	15,473	*,e	Digimarc Corp		487
	6,900	e	Digital Arts, Inc		324
	429,000	*,e	Digital China Holdings Ltd		229
	24,800		Digital Garage, Inc		807
	19,900		Dip Corp		481
	53,039	*,e	DocuSign, Inc		2,788
	155,961		Domain Holdings Australia Ltd		394
	11,319	*,e	Domo, Inc		243
	58,100		DTS Corp		2,313
	14,587		DuzonBIzon Co Ltd		803
	4,347,036	e	DXC Technology Co		406,535
	3,179,513	*	eBay, Inc		104,988
	31,841	e	Ebix, Inc		2,520
	24,821		eClerx Services Ltd		363

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,123	e	Econocom Group S.A.	$	260
	140,294	*	EDB Business Partner ASA		552
	22,247	*	eGain Corp		180
	866,364	*,n	Electronic Arts, Inc		104,388
	46,142	*,e	Ellie Mae, Inc		4,373
	51,597		Ementor ASA		837
	412,072	*	Endurance International Group Holdings, Inc		3,626
	35,884		Enghouse Systems Ltd		2,280
	130,000	*	Enigmo, Inc		2,139
	58,573	*	Envestnet, Inc		3,570
	91,705		EOH Holdings Ltd		245
	361,008	*	EPAM Systems, Inc		49,711
	862,459	g	Equiniti Group plc		2,986
	424,627	*	Etsy, Inc		21,817
	99,388	*	Euronet Worldwide, Inc		9,961
	36,070	*	Everbridge, Inc		2,079
	805,038	*	Everi Holdings, Inc		7,382
	80,122		EVERTEC, Inc		1,931
	21,712	*	Evo Payments, Inc		519
	61,959	*,e	Exela Technologies, Inc		442
	67,128	*	ExlService Holdings, Inc		4,444
	26,000	e	F@N Communications, Inc		159
	6,570,667	*,n	Facebook, Inc		1,080,612
	57,230	*	Fair Isaac Corp		13,080
	220,900	*,e	Fang Holdings Ltd (ADR)		572
	2,300	*,e	FFRI, Inc		65
	572,300		Fidelity National Information Services, Inc		62,421
	181,421	*	FireEye, Inc		3,084
	145,890	*	First American Corp		7,208
	2,007,054	*	First Data Corp		49,113
	28,751	e	First Derivatives plc		1,548
	1,610,928		Firstsource Solutions Ltd		1,376
	785,486	*	Fiserv, Inc		64,708
	386,698	*	Five9, Inc		16,895
	172,094	*	FleetCor Technologies, Inc		39,210
	256,270	*	ForeScout Technologies, Inc		9,677
	6,604		Formula Systems 1985 Ltd		278
	356,281	*	Fortinet, Inc		32,874
	15,144	*,e	Frontier Developments plc		262
	59,035		F-Secure Oyj		213
	60,000		FUJI SOFT, Inc		3,036
	1,077,901		Fujitsu Ltd		76,789
	4,200		Fukui Computer Holdings, Inc		81
	31,996	*,e	Fusion Telecommunications International, Inc		82
	59,300		Future Architect, Inc		963
	8,474	*	GameHi Co Ltd		65
	3,052	*	Gamevil, Inc		142
	251,588	*	Gartner, Inc		39,877
	88,672		GB Group plc		673
	77,200	*,e	GDS Holdings Ltd (ADR)		2,712
	481,015		Genpact Ltd		14,724
	32,433		GFT Technologies AG.		432
	129,105	*,g	Global Dominion Access S.A.		785
	262,628		Global Payments, Inc		33,459

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	147,304	*	Glu Mobile, Inc	$	1,097
	82,800	e	GMO internet, Inc		1,443
	22,400	e	GMO Payment Gateway, Inc		1,388
	601,045		Gocompare.Com Group plc		761
	648,012	*	GoDaddy, Inc		54,038
	82,899	*,e	Gogo, Inc		430
	22,600	e	Gourmet Navigator, Inc		184
	162,500	*,e	Gravity Co Ltd (ADR)		2,909
	79,000		Gree, Inc		373
	1,719,641	*	GreenSky, Inc		30,954
	744,337	*	GrubHub, Inc		103,180
	12,198	*	G-treeBNT Co Ltd		370
	56,793	*,e	GTT Communications, Inc		2,465
	110,596	*	Guidewire Software, Inc		11,171
	249,300	e	GungHo Online Entertainment Inc		513
	9,900	*	Gunosy, Inc		174
	11,215		Haansoft, Inc		161
	125,605		Hackett Group, Inc		2,531
	91,841		Hansen Technologies Ltd		248
	263,000	e	HC International, Inc		183
	751,283		HCL Technologies Ltd		11,274
	9,900		Hearts United Group Co Ltd		148
	64,581		Hexaware Technologies Ltd		382
	1,236,000	*	Hi Sun Technology China Ltd		169
	589,334	*	Hortonworks, Inc		13,443
	338,567	*	HubSpot, Inc		51,107
	1,500		Hundsun Technologies, Inc		12
	20,589	*	I3 Verticals, Inc		473
	800,247	*	IAC/InterActiveCorp		173,430
	42,900		Iflytek Co Ltd		178
	2,749,000		IGG, Inc		3,420
	217,373	*	Imperva, Inc		10,097
	78,295	*	Indra Sistemas S.A.		897
	385,900		Ines Corp		4,451
	81,386		Inesa Intelligent Tech, Inc - B		46
	90,727		Info Edge India Ltd		1,781
	7,700		Infocom Corp		254
	307,860		Infomart Corp		4,005
	44,717	*	Information Services Group, Inc		214
	7,900		Information Services International-Dentsu Ltd		294
	4,809,927		Infosys Technologies Ltd		48,320
	42,412	*	Instructure, Inc		1,501
	55,465		Integrated Research Ltd		109
	23,816	*	Internap Corp		301
	1,343,345		International Business Machines Corp		203,127
	40,000		International Games System Co Ltd		194
	16,700	e	Internet Initiative Japan, Inc		339
	63,387	*	InterXion Holding NV		4,266
	1,060,245		Intuit, Inc		241,100
	98,174		iomart Group plc		555
	93,197		Iress Market Technology Ltd		856
	28,400	e	Istyle, Inc		337
	217,430		IT Holdings Corp		10,869

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,400	e	Itochu Techno-Science Corp	$	1,356
	2,600	*	Itokuro, Inc		158
	63,118		j2 Global, Inc		5,229
	72,256		Jack Henry & Associates, Inc		11,567
	21,780	*	Just Dial Ltd		144
	540,818	*	Just Eat plc		4,720
	21,300		Justsystems Corp		493
	172,350		Kainos Group plc		941
	120,820		Kakaku.com, Inc		2,361
	44,123		Kakao Corp		4,732
	6,700	e	Kanematsu Electronics Ltd		228
	8,824	*	KCP Co Ltd		105
	33,847		Keywords Studios plc		860
	10,299		Kginicis Co Ltd		170
	256,019	*	Kinaxis, Inc		19,252
	2,804,000		Kingdee International Software Group Co Ltd		3,043
	975,061		Kingsoft Corp Ltd		1,849
	19,500	e	KLab, Inc		192
	123,468		Konami Corp		4,835
	9,385	*	Korea Information & Communications Co Ltd		82
	441,926		KPIT Cummins Infosystems Ltd		1,301
	74,448	g	Larsen & Toubro Infotech Ltd		1,969
	80,382	*	Leaf Group Ltd		804
	2,152,967		Learning Technologies Group plc		4,672
	273,433		Leidos Holdings, Inc		18,911
	9,250,000	*	Leyou Technologies Holdings Ltd		3,003
	1,223,583	*	Limelight Networks, Inc		6,142
	54,900	*,e	LINE Corp		2,313
	327,359		Link Administration Holdings Ltd		1,837
	81,167		Linx S.A.		329
	36,332	*	Liquidity Services, Inc		231
	76,246	*	Liveperson, Inc		1,979
	204,173	*	LiveRamp Holdings, Inc		10,088
	188,221		LogMeIn, Inc		16,770
	12,085	*	Logo Yazilim Sanayi Ve Ticaret AS.		69
	9,434	*	Majesco		71
	121,717	*	Manhattan Associates, Inc		6,646
	35,717		Mantech International Corp (Class A)		2,261
	72,500	*	MarkLines Co Ltd		1,263
	121,300		Marvelous, Inc		994
	2,608,464		MasterCard, Inc (Class A)		580,670
	490,552	*,e	Match Group, Inc		28,408
	72,857		Matrix IT Ltd		871
	192,876		MAXIMUS, Inc		12,549
	344,059	*	Meet Group, Inc		1,703
	300	*	Mercari, Inc		10
	408,169		Micro Focus International plc		7,591
	812	e	Micro Focus International plc (ADR)		15
	19,088,301	n	Microsoft Corp		2,183,129
	43,582	*	MicroStrategy, Inc (Class A)		6,128
	58,253	*	MINDBODY, Inc		2,368
	146,745		MindTree Ltd		2,093
	10,200		Miroku Jyoho Service Co Ltd		229
	46,424	*	Mitek Systems, Inc		327

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,800		Mitsubishi Research Institute, Inc	$	1,881
	28,000		Mixi Inc		672
	304,976	*	MobileIron, Inc		1,616
	423,160	*	Model N, Inc		6,707
	323,100	*	Momo, Inc (ADR)		14,152
	6,300	*,e	Money Forward, Inc		280
	40,607	*	MoneyGram International, Inc		217
	1,458,963		Moneysupermarket.com Group plc		5,309
	159,931		Monotype Imaging Holdings, Inc		3,231
	139,345		Mphasis Ltd		2,256
	74,100	e	MTI Ltd		410
	2,866,500		My EG Services BHD		1,211
	283,990		MYOB Ltd		620
	852,000	*,†,e,m	National Agricultural Holdings Ltd		1
	32,153		Naver Corp		20,753
	175,105		NCC Group plc		457
	16,351		NCsoft		6,524
	14,300		NEC Networks & System Integration Corp		332
	14,701		Nemetschek AG.		2,149
	221,300	e	NET One Systems Co Ltd		5,313
	6,042	*,g	Netcompany Group A.S.		217
	136,000	e	NetDragon Websoft, Inc		284
	104,100		Netease.com (ADR)		23,761
	59,404	*	New Relic, Inc		5,598
	404,628	*	Nexon Co Ltd		5,289
	236,732	*	NEXTDC Ltd		1,111
	7,465	*	NHN Entertainment Corp		412
	85,976		NIC, Inc		1,272
	67,699	*	Nice Systems Ltd		7,711
	68,600		Nihon Unisys Ltd		1,770
	159,557		NIIT Technologies Ltd		2,416
	274,217		Nintendo Co Ltd		99,769
	26,700		Nippon System Development Co Ltd		593
	66,013		Nomura Research Institute Ltd		3,334
	24,700		NS Solutions Corp		797
	481,535		NTT Data Corp		6,666
	270,362	*	Nuance Communications, Inc		4,683
	479,746	*	Nutanix, Inc		20,495
	7,200		OBIC Business Consultants Ltd		642
	32,970		Obic Co Ltd		3,118
	145,704	*	Okta, Inc		10,252
	37,853	*	OneMarket Ltd		30
	42,894	*	OneSpan, Inc		817
	492,559		Open Text Corp		18,743
	79,920	*,e	Opera Software ASA		174
	4,551,955		Oracle Corp		234,699
	76,044		Oracle Corp Japan		6,127
	79,190		Otsuka Corp		2,954
	307,960	*	Pagseguro Digital Ltd		8,521
	2,310,469	*,e	Pandora Media, Inc		21,973
	34,234		Paradox Interactive AB		596
	17,172	*,e	Park City Group, Inc		173
	652,156		Paychex, Inc		48,031

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	81,197	*,e	Paycom Software, Inc	$	12,619
	125,258	*	Paylocity Holding Corp		10,061
	5,348,376	*	PayPal Holdings, Inc		469,801
	61,780		PC Home Online		280
	263,000	e	PCA Corp		4,332
	6,723	*,e	Pearl Abyss Corp		1,295
	147,327		Pegasystems, Inc		9,223
	45,743	*	Perficient, Inc		1,219
	50,698		Persistent Systems Ltd		552
	717,980		Perspecta, Inc		18,466
	16,279	*	PFSweb, Inc		120
	20,900	*	Phoenix New Media Ltd (ADR)		88
	2,800	*,e	PKSHA Technology, Inc		285
	38,331	*	Pluralsight, Inc		1,227
	35,944		POSDATA Co Ltd		244
	40,669		Presidio, Inc		620
	30,238	*	PRGX Global, Inc		263
	172,966		Progress Software Corp		6,104
	1,346,181	*,n	Proofpoint, Inc		143,139
	41,593	*	PROS Holdings, Inc		1,457
	349,421	*	PTC, Inc		37,105
	48,521	*	Q2 Holdings, Inc		2,938
	17,518		QAD, Inc (Class A)		992
	45,629	*	Qualys, Inc		4,066
	162,733	*	QuinStreet, Inc		2,208
	107,454	*	Quotient Technology, Inc		1,666
	10,300	*	Rakus Co Ltd		222
	124,344	*	Rapid7, Inc		4,591
	82,481		REA Group Ltd		5,117
	180,010	*	RealPage, Inc		11,863
	193,182	*,n	Red Hat, Inc		26,327
	12,964		Reis, Inc		298
	23,905	*,e	Remark Holdings, Inc		76
	24,700	e	Remixpoint, Inc		213
	1,790,000	*,e	Rentian Technology Holdings Ltd		50
	50,716		Reply S.p.A		3,486
	25,321		RIB Software AG.		536
	1,964,865		Rightmove plc		12,058
	14,995	*,e	Rimini Street, Inc		95
	371,092	*	RingCentral, Inc		34,530
	45,213	*,g	Rocket Internet SE		1,415
	25,657	*	Rosetta Stone, Inc		510
	1,213,036		Sabre Corp		31,636
	30,977		SafeCharge International Group Ltd		132
	1,090,820		Sage Group plc		8,331
	70,887	*	SailPoint Technologies Holding, Inc		2,412
	5,469,151	*,n	salesforce.com, Inc		869,759
	77,025		Samsung SDS Co Ltd		16,038
	1,303,870		SAP AG.		160,328
	14,607		Sapiens International Corp NV		172
	57,225		Science Applications International Corp		4,612
	259,290	g	Scout24 AG.		12,077
	437,200	*,e	Sea Ltd (ADR)		6,046
	12,435	*,e	SecureWorks Corp		182

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	242,104	*	SendGrid, Inc	$	8,907
	1,893,333	*	ServiceNow, Inc		370,393
	109,874	*	ServiceSource International LLC		313
	19,240		Shanghai 2345 Network Holding Group Co Ltd		12
	106,723	*	SHIFT, Inc		4,758
	45,147	*,e	Shopify, Inc (Class A)		7,425
	109,408	*	Shopify, Inc (Class A) (Toronto)		17,983
	9,551	*,e	ShotSpotter, Inc		585
	24,532		Shutterstock, Inc		1,339
	512,760	e	Silverlake Axis Ltd		165
	26,469		SimCorp AS		2,290
	83,653	*	Sina Corp		5,812
	387,600	e	Sinosoft Technology Group Ltd		116
	41,200		SMS Co Ltd		819
	620,281		Softcat plc		6,433
	31,292		Software AG.		1,425
	66,540		Soft-World International Corp		158
	19,700	*,e	Sohu.com Ltd (ADR)		392
	13,851	*	Solutions 30 SE		819
	22,727		Sonata Software Ltd		116
	307,381		Sonda S.A.		462
	213,661	g	Sophos Group plc		1,360
	37,824		Sopra Group S.A.		6,063
	241,000	*	Splunk, Inc		29,139
	59,465	*	Spotify Technology S.A.		10,753
	55,464	*	SPS Commerce, Inc		5,504
	55,727		Square Enix Co Ltd		2,304
	551,400	*	Square, Inc		54,594
	411,559		SS&C Technologies Holdings, Inc		23,389
	29,161	*	Stamps.com, Inc		6,596
	164,917	*,e	Starbreeze AB		166
	9,092	*,e	Stillfront Group AB		191
	67,642		Sumisho Computer Systems Corp		3,195
	420,000		SUNeVision Holdings Ltd		283
	63,504	e	Switch, Inc		686
	53,738	*	Sykes Enterprises, Inc		1,638
	657,977		Symantec Corp		14,002
	810,347	*	Synopsys, Inc		79,908
	299,158	*	Syntel, Inc		12,259
	106,300		Systena Corp		1,453
	810,000		Systex Corp		1,698
	66,501	*	Tableau Software, Inc		7,431
	16,493	*,g	Takeaway.com Holding BV		1,067
	552,550	*	Take-Two Interactive Software, Inc		76,246
	1,357,924		Tata Consultancy Services Ltd		40,907
	55,020		Tata Elxsi Ltd		878
	820,393	*	Tech Mahindra Ltd		8,438
	188,170		Technology One Ltd		758
	29,675	*	TechTarget, Inc		576
	29,400		Tecmo Koei Holdings Co Ltd		505
	50,282	*	Telaria, Inc		191
	45,231	*	TeleNav, Inc		228
	72,269		Temenos Group AG.		11,771

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,056	*,e	Tenable Holdings, Inc	$	663
	9,616,574		Tencent Holdings Ltd		392,653
	3,043,454	*	Teradata Corp		114,769
	414,000	g	Tian GE Interactive Holdings Ltd		256
	42,134		Tietoenator Oyj		1,301
	549,000		TiVo Corp		6,835
	10,700		TKC		448
	605,959		Total System Services, Inc		59,832
	79,500		Totvus S.A.		494
	98,424	*,e	Trade Desk, Inc		14,853
	16,300		Trans Cosmos, Inc/Japan		412
	565,357		Travelport Worldwide Ltd		9,538
	1,059,000		Travelsky Technology Ltd		2,754
	7,350	*	Travelzoo, Inc		87
	112,484		Trend Micro, Inc		7,235
	123,441	*	TrueCar, Inc		1,741
	18,020		TTEC Holdings, Inc		467
	12,409	*,e	Tucows, Inc		692
	210,673	*	Twilio, Inc		18,177
	2,865,426	*,n	Twitter, Inc		81,550
	66,947	*	Tyler Technologies, Inc		16,406
	196,014	*	Ubisoft Entertainment		21,166
	56,220	*	Ultimate Software Group, Inc		18,114
	598,256	*,e	Unisys Corp		12,204
	23,462		United Internet AG.		1,109
	160,700	e	UNITED, Inc		3,977
	21,233	*	Upland Software, Inc		686
	283,093		Vakrangee Ltd		111
	123,035	*	Varonis Systems, Inc		9,012
	204,920	*	Verint Systems, Inc		10,266
	255,973	*	VeriSign, Inc		40,986
	10,661	*	Veritone, Inc		111
	66,132	*,e	VirnetX Holding Corp		308
	82,673	*	Virtusa Corp		4,440
	6,090,996		Visa, Inc (Class A)		914,197
	312,922	*	VMware, Inc (Class A)		48,835
	54,154	*	Website Pros, Inc		1,511
	10,838	*	Webzen, Inc		194
	102,656	*,e	Weibo Corp (ADR)		7,507
	6,356		WeMade Entertainment Co Ltd		178
	1,293,795		Western Union Co		24,660
	125,078	*	WEX, Inc		25,111
	1,648,559		Wipro Ltd		7,358
	175,430		Wirecard AG.		37,954
	56,869		Wisetech Global Ltd		907
	32,244	*	Wix.com Ltd		3,860
	117,331	*	Workday, Inc		17,128
	240,865	*	Workiva, Inc		9,514
	35,820	*,g	Worldline S.A.		2,294
	681,581	*	Worldpay, Inc		69,024
	264	*	Xero Ltd		9
	1,832		XING AG.		626
	32,915	*	XO Group, Inc		1,135
	19,800	*,e	Xunlei Ltd (ADR)		144

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,300,000		Xurpas, Inc	$	335
	14,974,831		Yahoo! Japan Corp		53,777
	108,666	*	Yelp, Inc		5,346
	283,042	*,e	Yext, Inc		6,708
	48,500		Yonyou Network Technology Co Ltd		196
	53,400	*	YY, Inc (ADR)		4,001
	483,660	*	Zendesk, Inc		34,340
	35,690		Zensar Technologies Ltd		139
	67,300	*,e	ZIGExN Co Ltd		497
	100,104	*	Zillow Group, Inc		4,425
	219,695	*,e	Zillow Group, Inc (Class C)		9,721
	121,497	*	Zix Corp		674
	2,284,227	*,e	Zscaler, Inc		93,151
	3,523,796	*	Zynga, Inc		14,130
			TOTAL SOFTWARE & SERVICES		16,513,356
TECHNOLOGY HARDWARE & EQUIPMENT - 5.3%
	147,460	*,e	3D Systems Corp		2,787
	789,422		AAC Technologies Holdings, Inc		8,152
	93,281	*	accesso Technology Group plc		3,562
	1,748,292		Accton Technology Corp		4,872
	12,779,762		Acer, Inc		10,556
	86,492		Adlink Technology, Inc		137
	139,432		Adtran, Inc		2,461
	27,372	*	ADVA AG. Optical Networking		214
	23,000		Advanced Ceramic X Corp		156
	262,932		Advantech Co Ltd		1,957
	286,911	*,e	Aerohive Networks, Inc		1,182
	19,172	*	Agilysys, Inc		313
	23,800		Ai Holdings Corp		551
	165,400		Alpha Networks, Inc		88
	651,195		Alps Electric Co Ltd		16,555
	12,922		ALSO Holding AG.		1,616
	34,900		Amano Corp		729
	413,118		Amphenol Corp (Class A)		38,841
	39,871	*	Anixter International, Inc		2,803
	125,700		Anritsu Corp		2,072
	2,796,000	*,†,e,m	Anxin-China Holdings Ltd		4
	13,333,078	d,n	Apple, Inc		3,009,809
	141,368	*,e	Applied Optoelectronics, Inc		3,486
	571,000		Arcadyan Technology Corp		1,015
	130,142	*	Arista Networks, Inc		34,600
	16,664	*,e	Arlo Technologies, Inc		242
	286,319	*	ARRIS International plc		7,441
	187,904	*	Arrow Electronics, Inc		13,852
	138,000		Asia Optical Co, Inc		327
	4,416,464		Asia Vital Components Co Ltd		3,940
	1,347,044		Asustek Computer, Inc		11,653
	51,000		Aten International Co Ltd		137
	48,790,893		AU Optronics Corp		20,576
	161,800		Aurora Corp		502
	198,396		Austria Technologie & Systemtechnik AG.		4,580
	37,327	*	Avid Technology, Inc		221

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	278,996		Avnet, Inc	$	12,491
	509,337		AVX Corp		9,194
	37,421		Badger Meter, Inc		1,981
	24,174		Barco NV		3,237
	846		Basler AG.		161
	13,907		Bel Fuse, Inc (Class B)		369
	53,511		Belden CDT, Inc		3,821
	139,843		Benchmark Electronics, Inc		3,272
	10,845,000		Benq Corp		7,071
	14,434	*	BH Co Ltd		245
	53,200		BOE Technology Group Co Ltd		24
	446,959		Brother Industries Ltd		8,825
	818,500		BYD Electronic International Co Ltd		1,202
	46,610	*	CalAmp Corp		1,117
	1,550,706		CalComp Electronics Thailand PCL		96
	110,671	*	Calix, Inc		896
	1,318,000	*,e	Camsing International Holding Ltd		1,140
	73,900		Canon Electronics, Inc		1,553
	742,248		Canon, Inc		23,536
	264,000		Career Technology Co Ltd		338
	36,452	*	Casa Systems, Inc		538
	104,943		Casetek Holdings Ltd		178
	603,857		Catcher Technology Co Ltd		6,638
	174,000	e	Catic Shenzhen Holdings Ltd		92
	770,711		CDW Corp		68,532
	393,846	*	Celestica, Inc		4,266
	241,602		Cheng Uei Precision Industry Co Ltd		205
	802,179		Chicony Electronics Co Ltd		1,624
	131,000		Chilisin Electronics Corp		401
	1,138,000	e	China Aerospace International Holdings Ltd		92
	489,600	*,†,m	China Fiber Optic Network System Group Ltd		1
	4,088,000	*,e	China Innovationpay Group Ltd		366
	2,094,000	e,g	China Railway Signal & Communication Corp Ltd		1,482
	226,000		Chin-Poon Industrial Co		279
	234,840		Chroma ATE, Inc		1,127
	11,000		Chunghwa Precision Test Tech Co Ltd		166
	1,732,504	*	Ciena Corp		54,123
	19,596,359		Cisco Systems, Inc		953,363
	1,839,154	e	Citizen Watch Co Ltd		12,120
	14,290	*,e	Clearfield, Inc		192
	355,393		Clevo Co		337
	1,011,394	*	CMC Magnetics Corp		225
	28,300	e	CMK Corp		217
	503,526		Cognex Corp		28,107
	47,732	*	Coherent, Inc		8,219
	765,089	e	Comba Telecom Systems Holdings Ltd		120
	4,553	e	Comet Holding AG.		461
	310,898	*	CommScope Holding Co, Inc		9,563
	3,315,688		Compal Electronics, Inc		2,057
	3,655,000		Compeq Manufacturing Co		2,883
	57,695		Comtech Telecommunications Corp		2,093
	25,575		Concraft Holding Co Ltd		192
	137,800	*	Control4 Corp		4,731
	2,615,399	*,†,e,m	Coolpad Group Ltd		180

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,706,000		Coretronic Corp	$	3,012
	2,689,462		Corning, Inc		94,938
	104,000		Co-Tech Development Corp		109
	124,063	*	Cray, Inc		2,667
	92,930		CTS Corp		3,188
	190,878		Daeduck Electronics Co		1,373
	8,458		Daeduck GDS Co Ltd		93
	47,300		Daiwabo Co Ltd		3,055
	44,273		Daktronics, Inc		347
	9,011	*,e	DASAN Zhone Solutions, Inc		128
	13,377		Datalogic S.p.A.		483
	107,828		DataTec Ltd		177
	401,900		Delta Electronics Thai PCL		867
	1,754,988		Delta Electronics, Inc		7,523
	7,500		Denki Kogyo Co Ltd		221
	34,000	e	Dexerials Corp		346
	107,107	e	Diebold, Inc		482
	57,307	*	Digi International, Inc		771
	94,254		Dolby Laboratories, Inc (Class A)		6,595
	194,300		Eastern Communications Co Ltd		100
	21,995	*,e	Eastman Kodak Co		68
	95,148	*	EchoStar Corp (Class A)		4,412
	40,000		Egis Technology, Inc		145
	10,271	e	Eizo Nanao Corp		464
	12,400		Elecom Co Ltd		315
	43,024	*	Electro Scientific Industries, Inc		751
	3,392,764		Electrocomponents plc		31,740
	60,195	*	Electronics for Imaging, Inc		2,051
	25,900		Elematec Corp		612
	166,654		Elite Material Co Ltd		469
	193,390		Elitegroup Computer Systems Co Ltd		98
	31,822		Ennoconn Corp		292
	5,900	e	Enplas Corp		169
	17,518	*	ePlus, Inc		1,624
	3,121,407		Ericsson (LM) (B Shares)		27,627
	11,700	*	ESPEC Corp		224
	52,638	e	Evertz Technologies Ltd		670
	7,487		EVS Broadcast Equipment S.A.		148
	154,324	*	Extreme Networks, Inc		846
	238,368	*	F5 Networks, Inc		47,535
	48,753	*	Fabrinet		2,255
	22,543	*	FARO Technologies, Inc		1,451
	3,439,000	e	FIH Mobile Ltd		394
	155,240	*,e	Finisar Corp		2,957
	126,352		Firich Enterprises Co Ltd		173
	279,092	*,e	Fitbit, Inc		1,493
	1,006,339		FLEXium Interconnect, Inc		2,850
	730,000	*	Flextronics International Ltd		9,578
	292,136		Flir Systems, Inc		17,958
	63,310		Flytech Technology Co Ltd		156
	4,440		Focus Media Information Technology Co Ltd		5
	837,868		Foxconn Technology Co Ltd		2,045
	797,643		Fujifilm Holdings Corp		35,885

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,000		Fujitsu Frontech Ltd	$	867
	43,765		Gemalto NV		2,551
	49,996	*	Gemalto NV		2,914
	192,000		General Interface Solution Holding Ltd		809
	40,000		Genius Electronic Optical Co Ltd		415
	2,509,000		Getac Technology Corp		3,278
	4,497,000		Gigabyte Technology Co Ltd		7,095
	365,569		Halma plc		6,883
	26,600		Hamamatsu Photonics KK		1,059
	140,300		Hangzhou Hikvision Digital Technology Co Ltd		586
	21,727,330		HannStar Display Corp		5,357
	400,120	*	Harmonic, Inc		2,201
	2,175,399		Hewlett Packard Enterprise Co		35,481
	72,018		Hexagon AB (B Shares)		4,216
	547,799	*	High Tech Computer Corp		727
	6,600	*	Hioki EE Corp		215
	30,695	e	Hirose Electric Co Ltd		3,353
	715,279		Hitachi High-Technologies Corp		24,697
	3,985,250		Hitachi Ltd		135,465
	320,800		Hitachi Maxell Ltd		5,026
	7,000		Hochiki Corp		103
	82,470		Holystone Enterprise Co Ltd		369
	14,716	*	Homecast Co Ltd		110
	14,883,452		Hon Hai Precision Industry Co, Ltd		38,595
	51,095		Horiba Ltd		2,708
	452,900		Hosiden Corp		4,436
	2,396,226		HP, Inc		61,751
	840,400	e	Ibiden Co Ltd		11,775
	21,900	e	Icom, Inc		475
	121,928		ICP Electronics, Inc		152
	82,004	*	II-VI, Inc		3,879
	15,462		Iljin Materials Co Ltd		746
	75,579	*	Immersion Corp		799
	1,466,670		Inari Amertron BHD		808
	4,689		Inficon Holding AG.		2,396
	531,402	*	Infinera Corp		3,879
	11,467		Ingenico		872
	7,071,219		InnoLux Display Corp		2,456
	426,416	*	Insight Enterprises, Inc		23,065
	308,500		Integrated Micro-Electronics, Inc		70
	176,419		InterDigital, Inc		14,114
	6,964	*	Interflex Co Ltd		82
	2,436,535		Inventec Co Ltd		2,186
	51,361	*	IPG Photonics Corp		8,016
	12,000	e	Iriso Electronics Co Ltd		630
	12,448		Isra Vision AG.		626
	40,200		ITC Networks Corp		741
	872,357		ITEQ Corp		1,686
	33,068	*,e	Iteris, Inc		178
	67,267	*	Itron, Inc		4,319
	11,444		Ituran Location and Control Ltd		394
	535,297		Jabil Circuit, Inc		14,496
	494,000		Japan Aviation Electronics Industry Ltd		8,329
	13,900		Japan Cash Machine Co Ltd		157

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	376,200	*	Japan Display, Inc	$	414
	166,122		Jenoptik AG.		6,121
	3,009,252	n	Juniper Networks, Inc		90,187
	21,800		Kaga Electronics Co Ltd		454
	2,862		Kapsch TrafficCom AG.		119
	323,400		KCE Electronics PCL		423
	240,494	*	Kemet Corp		4,461
	34,534		Keyence Corp		20,060
	432,741	*	Keysight Technologies, Inc		28,682
	36,610	*	Kimball Electronics, Inc		719
	697,000		Kingboard Chemical Holdings Ltd		2,269
	1,396,500		Kingboard Laminates Holdings Ltd		1,238
	18,411		Kingpak Technology, Inc		87
	118,050	*	Knowles Corp		1,962
	14,500	e	Koa Corp		250
	469,822		Konica Minolta Holdings, Inc		5,000
	25,330	e	Kudelski S.A.		217
	23,513	*	KVH Industries, Inc		308
	275,929		Kyocera Corp		16,562
	17,276	e	Landis&Gyr Group AG.		1,154
	302,466		Largan Precision Co Ltd		35,933
	432,900	g	Legend Holdings Corp		1,323
	297		LEM Holding S.A.		350
	6,712,753		Lenovo Group Ltd		4,891
	13,614		LG Innotek Co Ltd		1,601
	198,384		LG.Philips LCD Co Ltd		3,428
	1,795,825		Lite-On Technology Corp		2,257
	54,150		Littelfuse, Inc		10,716
	381,464		Logitech International S.A.		17,108
	35,000		Lotes Co Ltd		218
	919,993	*,e	Lumentum Holdings, Inc		55,154
	172,400	e	Macnica Fuji Electronics Holdings, Inc		3,045
	123,300	e	Marubun Corp		898
	19,500	e	Maruwa Co Ltd		1,301
	39,844	*,e	Maxwell Technologies, Inc		139
	50,400		Mcj Co Ltd		444
	2,000,000	*,e,g	Meitu, Inc		1,399
	4,200	e	Melco Holdings, Inc		151
	227,076		Merry Electronics Co Ltd		1,030
	4,479		Mesa Laboratories, Inc		831
	48,435		Methode Electronics, Inc		1,753
	449,461	e	Micronic Laser Systems AB		4,707
	2,938,000		Micro-Star International Co Ltd		7,947
	468,155		Mitac Holdings Corp		436
	798,743		Motorola, Inc		103,948
	23,927	e	MTS Systems Corp		1,310
	502,995		Murata Manufacturing Co Ltd		77,288
	139,000		Nan Ya Printed Circuit Board Corp		137
	16,252	*	Napco Security Technologies, Inc		243
	219,636		National Instruments Corp		10,615
	90,782	*	NCR Corp		2,579
	172,427		NEC Corp		4,765
	100,880		Neopost S.A.		3,066

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	533,835		NetApp, Inc	$	45,851
	57,247	*	Netgear, Inc		3,598
	263,630	*	Netscout Systems, Inc		6,657
	30,526	e	Nichicon Corp		301
	12,800		Nippon Ceramic Co Ltd		341
	16,200		Nippon Chemi-Con Corp		453
	89,362		Nippon Electric Glass Co Ltd		2,809
	26,800		Nippon Signal Co Ltd		274
	24,160	e	Nissha Printing Co Ltd		471
	32,419	*,e	nLight, Inc		720
	16,400	e	Nohmi Bosai Ltd		366
	4,204,133	e	Nokia Corp		23,459
	8,047,197		Nokia Oyj (Turquoise)		44,741
	14,300	*,e	Noritsu Koki Co Ltd		397
	132,177	*	Novanta, Inc		9,041
	227,942	*	Oclaro, Inc		2,038
	4,100	*,e	Ohara, Inc		110
	116,300		Oki Electric Industry Co Ltd		1,528
	631,822		Omron Corp		26,699
	229,000	*,e	O-Net Communications Group		118
	20,900	e	Optex Co Ltd		413
	36,646	*	Orbotech Ltd		2,178
	99,500		Osaki Electric Co Ltd		767
	64,983	*	OSI Systems, Inc		4,959
	125,965		Oxford Instruments plc		1,627
	91,261	*	Palo Alto Networks, Inc		20,557
	227,224		Pan-International Industrial		162
	14,559	*	PAR Technology Corp		324
	92,731		Park Electrochemical Corp		1,807
	22,599		Partron Co Ltd		153
	2,098,000	e	PAX Global Technology Ltd		1,065
	15,332		PC Connection, Inc		596
	1,652,917		Pegatron Technology Corp		3,308
	122,920		Plantronics, Inc		7,412
	43,038	*	Plexus Corp		2,518
	35,176		Posiflex Technology, Inc		127
	1,590,000		Primax Electronics Ltd		2,541
	535,000		Prime View International Co Ltd		550
	1,069,758	*	Pure Storage, Inc		27,760
	2,273,338		Quanta Computer, Inc		3,961
	218,421	*	Quantenna Communications, Inc		4,030
	107,998	*	Radware Ltd		2,859
	159,719		Redington India Ltd		207
	107,314		Renishaw plc		6,624
	257,279	*	Ribbon Communications, Inc		1,757
	128,733	e	Ricoh Co Ltd		1,383
	9,879	*,†,m	RICOH INDIA Ltd		0	^
	8,500		Riken Keiki Co Ltd		184
	14,000		Riso Kagaku Corp		338
	787,202	*	Ritek Corp		353
	24,809	*	Rogers Corp		3,655
	8,000		Roland DG Corp		193
	12,600	e	Ryosan Co Ltd		459
	13,000		Ryoyo Electro Corp		201

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,081		S&T AG.	$	879
	159,382		Samsung Electro-Mechanics Co Ltd		19,962
	112,877		Samsung SDI Co Ltd		26,288
	6,375		Samwha Capacitor Co Ltd		428
	391,998	*	Sanmina Corp		10,819
	5,200	*,e	Sanshin Electronics Co Ltd		94
	107,863	*	Scansource, Inc		4,304
	1,031		Seagate Technology, Inc		49
	71,072		Seiko Epson Corp		1,212
	909,000		Sercomm Corp		1,488
	21,600		Sesa S.p.A		686
	177,629		SFA Engineering Corp		5,860
	299,291		Shimadzu Corp		9,379
	22,816	*,e	Sierra Wireless, Inc		460
	19,700	e	Siix Corp		343
	341,600		Simplo Technology Co Ltd		2,345
	144,123		Sinbon Electronics Co Ltd		402
	2,791		Sindoh Co Ltd		125
	79,032		Smart Metering Systems plc		633
	3,300	e	SMK Corp		90
	183,929		Spectris plc		5,681
	52,684		Sterlite Technologies Ltd		213
	68,845	*,e	Stratasys Ltd		1,591
	758,900		Sunny Optical Technology Group Co Ltd		8,762
	6,388,000		Supreme Electronics Co Ltd		6,270
	46,607	*	Synaptics, Inc		2,126
	124,564		SYNNEX Corp		10,551
	1,289,238		Synnex Technology International Corp		1,643
	30,269	*	Taihan Fiberoptics Co Ltd		186
	159,000		Taiwan Union Technology Corp		529
	214,903	e	Taiyo Yuden Co Ltd		4,830
	55,000	*,e	Tamura Corp		344
	183,687		TDK Corp		20,014
	1,869,491		TE Connectivity Ltd		164,384
	98,994	*	Tech Data Corp		7,085
	22,033	*,g	Tejas Networks Ltd		79
	34,857	*,e	TELCON, Inc		323
	1,838,984		Telefonaktiebolaget Lm Ericsson (ADR)		16,183
	82,495		Test Research, Inc		131
	18,004	*	Texcell-NetCom Co Ltd		336
	47,000		Thinking Electronic Industrial Co Ltd		127
	45,129	*,e	Tobii AB		225
	97,625		Tong Hsing Electronic Industries Ltd		309
	4,350,000	e	Tongda Group Holdings Ltd		638
	66,900		Topcon Corp		1,221
	125,400		Toshiba TEC Corp		3,652
	198,000		TPK Holding Co Ltd		339
	145,000		Transcend Information, Inc		332
	727,042	*	Trimble Navigation Ltd		31,597
	1,419,832		Tripod Technology Corp		3,876
	946,000	*,e	Truly International Holdings		158
	13,800		TSC Auto ID Technology Co Ltd		107
	123,395	*	TTM Technologies, Inc		1,963

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	186,039		TXC Corp	$	208
	85,367	e	Ubiquiti Networks, Inc		8,439
	824,883		Unimicron Technology Corp		541
	331,500		Unitech Printed Circuit Board Corp		178
	69,033	*	USA Technologies, Inc		497
	8,400	e	V Technology Co Ltd		1,260
	329,200		Venture Corp Ltd		4,245
	73,872	*,e	Viasat, Inc		4,724
	349,833	*	Viavi Solutions, Inc		3,967
	533,171		Vishay Intertechnology, Inc		10,850
	183,820	*	Vishay Precision Group, Inc		6,875
	821,175		VS Industry BHD		343
	2,148,800		VST Holdings Ltd		1,124
	104,200		Vtech Holdings Ltd		1,203
	93,000		Wacom Co Ltd		397
	2,421,000		Wah Lee Industrial Corp		4,307
	487,000		Walsin Technology Corp		3,398
	2,252,000		Wasion Group Holdings Ltd		1,139
	677,428		Western Digital Corp		39,657
	15,228		Wincor Nixdorf AG.		1,001
	190,500	*,†,b,m	Wintek Corp		0	^
	2,164,302		Wistron Corp		1,410
	178,556		Wistron NeWeb Corp		434
	4,736,000		World Wide Touch Technology Ho		272
	1,565,732	m	WPG Holdings Co Ltd		1,946
	2,813,744		WT Microelectronics Co Ltd		3,929
	1,823,671		Xerox Corp		49,203
	184,000	*	XI’an Haitiantian Holdings Co Ltd		66
	15,750	*,†,m	Ya Hsin Industrial Co Ltd		0
	781,200		Yageo Corp		11,731
	79,386		Yamatake Corp		1,726
	50,438		Yaskawa Electric Corp		1,498
	46,184		Yokogawa Electric Corp		977
	244,969	*	Zebra Technologies Corp (Class A)		43,318
	383,405		Zhen Ding Technology Holding Ltd		856
	149,000		Zinwell Corp		96
	710,538	*	ZTE Corp		1,298
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		6,651,718
TELECOMMUNICATION SERVICES - 2.0%
	7,125	*	012 Smile.Communications Ltd		70
	3,649,789		Advanced Info Service PCL (Foreign)		22,689
	97,594		AFK Sistema (GDR)		257
	361,406		AFK Sistema (GDR)		950
	239,100		America Movil S.A. de C.V. (ADR) (Series L)		3,840
	43,671,384		America Movil S.A. de C.V. (Series L)		35,098
	222,250		APT Satellite Holdings Ltd		80
	1,140,000	*	Asia Pacific Telecom Co Ltd		259
	15,512,708		AT&T, Inc		520,917
	14,314		ATN International, Inc		1,058
	661,100	*,e	Axtel SAB de C.V.		132
	272,972		BCE, Inc		11,059
	736,466		Bezeq Israeli Telecommunication Corp Ltd		848
	1,851,295		Bharti Airtel Ltd		8,648

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	599,479	*	Bharti Infratel Ltd	$	2,175
	152,262	*	Boingo Wireless, Inc		5,314
	7,664,526		BT Group plc		22,498
	47,036	*	Cellcom Israel Ltd		323
	376,639	g	Cellnex Telecom SAU		9,878
	2,432,248		CenturyLink, Inc		51,564
	2,407,371		China Communications Services Corp Ltd		2,220
	7,440,649		China Mobile Hong Kong Ltd		73,155
	48,456,457		China Telecom Corp Ltd		24,088
	87,958,000	*,g	China Tower Corp Ltd		12,809
	7,287,681		China Unicom Ltd		8,514
	108,500		China United Network Communications Ltd		88
	453,973		Chorus Ltd		1,462
	3,548,988		Chunghwa Telecom Co Ltd		12,783
	64,606	*	Cincinnati Bell, Inc		1,030
	8,728,000		Citic 1616 Holdings Ltd		2,974
	56,871		Cogent Communications Group, Inc		3,173
	307,678		Com Hem Holding AB		5,083
	96,805	e	Consolidated Communications Holdings, Inc		1,262
	5,439,997		Deutsche Telekom AG.		87,576
	9,144,639		Digi.Com BHD		10,648
	10,733		Digital Multimedia Technologies S.p.A.		709
	109,533		DNA Oyj		2,448
	129,137		Drillisch AG.		6,278
	283,142		Elisa Oyj (Series A)		12,004
	3,415,659	*	Emirates Telecommunications Group Co PJSC		15,530
	150,605		Empresa Nacional de Telecomunicaciones S.A.		1,280
	66,393	g	Euskaltel S.A.		522
	1,548,236		Far EasTone Telecommunications Co Ltd		3,691
	83,305		Freenet AG.		2,000
	314,172	e	Frontier Communications Corp		2,039
	33,056		Globe Telecom, Inc		1,346
	265,410		Hellenic Telecommunications Organization S.A.		3,254
	1,616,768		Himachal Futuristic Communications		441
	2,472,500		HKBN Ltd		4,235
	3,169,535		HKT Trust and HKT Ltd		4,358
	1,114,651		Hutchison Telecommunications Hong Kong Holdings Ltd		440
	2,282,638	*	Idea Cellular Ltd		1,214
	73,068	e	Iliad S.A.		9,544
	220,586	g	Infrastrutture Wireless Italiane S.p.A		1,633
	413,977		Inmarsat plc		2,695
	48,536	*	Inscobee, Inc		406
	61,322	*,e	Intelsat S.A.		1,840
	130,208	*,e	Iridium Communications, Inc		2,930
	21,001,900		Jasmine International PCL		3,605
	301,211		Kcom Group plc		368
	1,312,898		KDDI Corp		36,219
	1,450,341		Koninklijke KPN NV		3,826
	17,654		KT Corp		480
	222,725	*,†,e,m	Let’s GOWEX S.A.		13
	199,164		LG Telecom Ltd		3,286
	1,316,147		Magyar Telekom		1,890

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	139,848	*	Masmovil Ibercom S.A.	$	16,111
	2,285,390		Maxis BHD		3,224
	20,677	e	Millicom International Cellular S.A.		1,186
	976,318		Mobile TeleSystems (ADR)		8,328
	941,009	e	MobileOne Ltd		1,452
	18,009		Mobistar S.A.		283
	1,544,062		MTN Group Ltd		9,562
	2,024,500		NetLink NBN Trust		1,155
	119,891	*,e	NII Holdings, Inc		703
	1,065,336		Nippon Telegraph & Telephone Corp		48,079
	3,558,730		NTT DoCoMo, Inc		95,650
	62,743	*,e	Ooma, Inc		1,042
	182,239	*	Ooredoo QSC		3,450
	2,380,767		Orange S. A.		37,882
	1,339,180	*	Orascom Telecom Holding SAE		248
	100,942	*	Orbcomm, Inc		1,096
	84,798	*	Partner Communications		445
	8,140,741		PCCW Ltd		4,743
	23,756	*,e	pdvWireless, Inc		805
	95,730	g	PLAY Communications S.A.		522
	80,382		PLDT, Inc		2,025
	20,377		Proximus plc		487
	25	*	PT Excelcomindo Pratama		0	^
	721,000		PT Link Net Tbk		203
	45,324,324		PT Telekomunikasi Indonesia Persero Tbk		11,094
	374,569	*	Reliance Communication Ventures Ltd		62
	753,686		Rogers Communications, Inc (Class B)		38,762
	152,068	*	Sejong Telecom, Inc		80
	70,528		Shenandoah Telecom Co		2,733
	2,547,400		Singapore Telecommunications Ltd		6,018
	6,343,753		Singapore Telecommunications Ltd		15,033
	111,938		SK Telecom Co Ltd		28,380
	650,877		SmarTone Telecommunications Holding Ltd		867
	1,274,666		Softbank Corp		127,339
	556,461	e	SpeedCast International Ltd		1,611
	22,403		Spok Holdings, Inc		345
	2,061,953	*,e	Sprint Corp		13,485
	415,400	e	StarHub Ltd		568
	155,422	g	Sunrise Communications Group AG.		14,084
	30,611		Swisscom AG.		13,884
	1,523,942		Taiwan Mobile Co Ltd		5,464
	441,113	e	TalkTalk Telecom Group plc		708
	40,093		Tata Communications Ltd		277
	969,779		Tele2 AB (B Shares)		11,655
	1,629,247		Telecom Corp of New Zealand Ltd		4,373
	1,014,609		Telecom Egypt		660
	10,013,861		Telecom Italia RSP		5,372
	2,207,841	*	Telecom Italia S.p.A.		1,335
	437,299		Telefonica Brasil S.A.		4,245
	101,429		Telefonica Deutschland Holding AG.		428
	171,966		Telefonica O2 Czech Republic AS		2,007
	4,125,817		Telefonica S.A.		32,546
	105,566		Telekom Austria AG.		818
	831,783		Telekom Malaysia BHD		647

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	645,704	*	Telekomunikacja Polska S.A.	$	777
	1,269,865		Telenor ASA		24,833
	708,579		Telephone & Data Systems, Inc		21,562
	830,601	*,e	Telesites SAB de C.V.		656
	3,518,256		TeliaSonera AB		16,133
	275,695		Telkom S.A. Ltd		1,007
	5,292,722		Telstra Corp Ltd		12,194
	166,114		TELUS Corp		6,123
	261,700		Thaicom PCL		78
	1,984,184		Tim Participacoes S.A.		5,763
	253,820		Time dotCom BHD		508
	2,432,546		TM International BHD		2,679
	1,001,185	*	T-Mobile US, Inc		70,263
	1,473,883		Tower Bersama Infrastructure		556
	459,592	e	TPG Telecom Ltd		2,835
	6,375,116		True Corp PCL (Foreign)		1,193
	1,594,015		Turkcell Iletisim Hizmet AS		3,037
	31,776	*	US Cellular Corp		1,423
	9,113,413		Verizon Communications, Inc		486,565
	374,430	e	Vocus Communications Ltd		887
	1,072,760		Vodacom Group Pty Ltd		9,548
	50,687,720		Vodafone Group plc		108,605
	415,000		Vodafone Group plc (ADR)		9,005
	192,683	*	Vodafone Qatar		454
	617,839	*	Vonage Holdings Corp		8,749
	10,037	*,e	Windstream Holdings, Inc		49
	591,349	*	Zayo Group Holdings, Inc		20,532
			TOTAL TELECOMMUNICATION SERVICES		2,474,621
TRANSPORTATION - 2.3%
	52,528	e,m	Abertis Infraestructuras S.A. (Continuous)		1,120
	21,822		Aegean Airlines S.A.		193
	111,441	g	Aena S.A.		19,308
	7,630	e	Aeroporto Guglielmo Marconi Di Bologna S.p.A		128
	34,941		Aeroports de Paris		7,867
	7,628,284		Air Arabia PJSC		1,994
	50,708	*	Air Canada		1,084
	1,961,225		Air China Ltd		1,887
	125,581	*	Air France-KLM		1,309
	659,623		Air New Zealand Ltd		1,351
	130,842	*	Air Transport Services Group, Inc		2,809
	967,000		AirAsia BHD		738
	564,325	*	AirAsia X BHD		38
	3,884,200		Airports of Thailand PCL		7,867
	387,739		Alaska Air Group, Inc		26,700
	896,630	e,g	ALD S.A.		16,410
	38,487	e	All Nippon Airways Co Ltd		1,345
	26,477		Allcargo Logistics Ltd		37
	17,164	e	Allegiant Travel Co		2,176
	14,086		Amerco, Inc		5,024
	1,301,171		American Airlines Group, Inc		53,777
	634,771	*,†,b,e,m	AMR Corporation		6
	4,191		AP Moller - Maersk AS (Class A)		5,494

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,361		AP Moller - Maersk AS (Class B)	$	8,936
	128,595		Arkansas Best Corp		6,243
	647,345	*	Asiana Airlines		2,548
	32,037	*	Atlas Air Worldwide Holdings, Inc		2,042
	689,892		Atlas Arteria Ltd		3,481
	680,107		Auckland International Airport Ltd		3,291
	132,095		Autostrada Torino-Milano S.p.A.		2,847
	611,768		Autostrade S.p.A.		12,692
	232,345		Avianca Holdings S.A.		166
	175,501	*	Avis Budget Group, Inc		5,641
	502,700		Bangkok Airways Co Ltd		208
	135,150		Bangkok Aviation Fuel Services PCL		143
	2,709,553		Bangkok Expressway & Metro PCL		729
	695,702		BBA Aviation plc		2,723
	1,732,097		Beijing Capital International Airport Co Ltd		2,101
	422,500	*,e	Beijing Sports and Entertainment Industry Group Ltd		137
	6,733		Blue Dart Express Ltd		279
	745,388		Bollore		3,220
	110,842		bpost S.A.		1,799
	5,152,527		BTS Group Holdings PCL		1,482
	885,164		Canadian National Railway Co		79,426
	187,427		Canadian Pacific Railway Ltd (Toronto)		39,647
	1,043,000	*	CAR, Inc		825
	139,660		Cathay Pacific Airways Ltd		211
	541,290		Cebu Air, Inc		701
	144,564		Central Japan Railway Co		30,098
	222,108		CH Robinson Worldwide, Inc		21,749
	1,249,335		China Airlines		378
	2,533,500	*	China COSCO Holdings Co Ltd		1,049
	1,520,000		China Eastern Airlines Corp Ltd (H Shares)		971
	1,340,525		China Merchants Holdings International Co Ltd		2,563
	4,383,000	*,e	China Shipping Container Lines Co Ltd		592
	1,584,000		China Shipping Development Co Ltd		786
	2,021,500		China Southern Airlines Co Ltd		1,288
	155,349	e	Chorus Aviation, Inc		927
	1,033,999		Cia de Concessoes Rodoviarias		2,166
	37,519		Cia de Distribucion Integral Logista Holdings SAU		964
	1,426,190		ComfortDelgro Corp Ltd		2,535
	8,733,716	*	Compania SudAmericana de Vapores S.A.		279
	145,016		Container Corp Of India Ltd		1,255
	399,000	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		300
	156,028		Copa Holdings S.A. (Class A)		12,457
	94,063	*	Cosan Logistica S.A.		235
	1,354,000		Cosco International Holdings Ltd		489
	5,590,949		COSCO Pacific Ltd		6,144
	211,370	e	Costamare, Inc		1,372
	119,555	*	Covenant Transportation Group, Inc		3,474
	2,572,620		CSX Corp		190,503
	82,776	e	CTT-Correios de Portugal S.A.		325
	19,680	*,e	D/S Norden		299
	277,600		Daqin Railway Co Ltd		332
	386,994		Dart Group plc		4,704
	59,922	*,e	Daseke, Inc		481
	1,533,864		Delta Air Lines, Inc		88,703

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,024,511		Deutsche Lufthansa AG.	$	25,146
	1,073,090		Deutsche Post AG.		38,153
	64,427		Dfds A.S.		3,186
	170,688		DP World Ltd		3,260
	596,003		DSV AS		54,159
	69,351	*	Eagle Bulk Shipping, Inc		390
	454,588		East Japan Railway Co		42,226
	441,390		easyJet plc		7,553
	119,796	*	Echo Global Logistics, Inc		3,708
	159,200		EcoRodovias Infraestrutura e Logistica S.A.		282
	15,300	*,e	eHi Car Services Ltd (ADR)		174
	685,138	g	Enav S.p.A		3,336
	68,322	g	Europcar Groupe S.A.		642
	3,455,971	*	Eva Airways Corp		1,681
	246,000		Evergreen International Storage & Transport Corp		109
	2,051,261		Evergreen Marine Corp Tawain Ltd		860
	4,117	e	Exchange Income Corp		105
	50,612		Expeditors International of Washington, Inc		3,722
	1,172,047		FedEx Corp		282,217
	392,279		Finnair Oyj		3,264
	766,848	*	Firstgroup plc		908
	12,982		Flughafen Zuerich AG.		2,623
	103,344		Forward Air Corp		7,410
	53,221		Fraport AG. Frankfurt Airport Services Worldwide		4,698
	153,041		Freightways Ltd		794
	70,600		Fukuyama Transporting Co Ltd		3,053
	96,720		Gateway Distriparks Ltd		194
	54,838	*	Gayatri Highways Ltd		1
	242,425	*,e	Genco Shipping & Trading Ltd		3,394
	104,089	*	Genesee & Wyoming, Inc (Class A)		9,471
	21,248		GLOVIS Co Ltd		2,490
	161,526		Go-Ahead Group plc		3,385
	271,800	*	Gol Linhas Aereas Inteligentes S.A.		744
	461,977		Golden Ocean Group Ltd		4,520
	278,921	*	Grindrod Ltd		154
	401,690		Groupe Eurotunnel S.A.		5,132
	210,100	*,e	Grupo Aeromexico SAB de C.V.		288
	232,900		Grupo Aeroportuario del Centro Norte Sab de C.V.		1,661
	565,831		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		6,186
	301,780		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		6,170
	826,525		Guangdong Provincial Expressway Development Co Ltd		648
	562,000		Guangdong Yueyun Transportation Co Ltd		237
	270,800		Guangshen Railway Co Ltd		142
	226,436		Gujarat Pipavav Port Ltd		313
	14,340		Gulf Warehousing Co		156
	77,000		Hainan Meilan International Airport Co Ltd		68
	30,000		Hamakyorex Co Ltd		1,089
	73,852		Hamburger Hafen und Logistik AG.		1,734
	30,376		Hanjin Kal Corp		616
	4,261		Hanjin Transportation Co Ltd		126

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	242,497		Hankyu Hanshin Holdings, Inc	$	8,600
	22,305	g	Hapag-Lloyd AG.		843
	117,504		Hawaiian Holdings, Inc		4,712
	62,675		Heartland Express, Inc		1,237
	74,029	*	Hertz Global Holdings, Inc		1,209
	154,300		Hitachi Transport System Ltd		4,334
	6,827		Hopewell Highway Infrastructure Ltd		4
	199,764	*	Hub Group, Inc (Class A)		9,109
	3,422,200		Hutchison Port Holdings Trust		855
	151,779	*,e	Hyundai Merchant Marine Co Ltd		673
	1,454	*	ID Logistics Group		261
	469,857		Iino Kaiun Kaisha Ltd		2,406
	60,399	g	InterGlobe Aviation Ltd		688
	2,486,928		International Consolidated Airlines Group S.A.		21,334
	603,037		International Container Term Services, Inc		1,050
	266,002		Irish Continental Group plc		1,606
	333,229		Japan Airlines Co Ltd		11,977
	104,800		Japan Airport Terminal Co Ltd		4,767
	458,750		JB Hunt Transport Services, Inc		54,564
	5,336		Jeju Air Co Ltd		180
	13,107	*	Jet Airways India Ltd		33
	814,768	*	JetBlue Airways Corp		15,774
	1,447,834		Jiangsu Express		1,857
	1,655		Jin Air Co Ltd		32
	151,310		Jinzhou Port Co Ltd		56
	275,161		Kamigumi Co Ltd		6,065
	179,022		Kansas City Southern Industries, Inc		20,280
	115,539	*,e	Kawasaki Kisen Kaisha Ltd		2,336
	34,698	e	Keihin Electric Express Railway Co Ltd		632
	16,591	e	Keio Corp		908
	28,735		Keisei Electric Railway Co Ltd		1,011
	837,149		Kerry Logistics Network Ltd		1,399
	133,674		Kintetsu Corp		5,376
	107,800		Kintetsu World Express, Inc		2,066
	345,149	*	Kirby Corp		28,389
	1,375,453		Knight-Swift Transportation Holdings, Inc		47,426
	67,100		Konoike Transport Co Ltd		1,146
	8,686	*	Korea Express Co Ltd		1,237
	6,994	*	Korea Line Corp		152
	35,939		Korean Air Lines Co Ltd		910
	64,320		Kuehne & Nagel International AG.		10,206
	258,986		Kyushu Railway Co		7,885
	195,930		Lan Airlines S.A.		1,863
	92,066		Landstar System, Inc		11,232
	145,500		Lingkaran Trans Kota Holdings BHD		160
	881,011		Localiza Rent A Car		4,963
	157,903	e	Macquarie Infrastructure Co LLC		7,284
	267,540		MacroAsia Corp		79
	1,018,306		Malaysia Airports Holdings BHD		2,189
	142,987		Marten Transport Ltd		3,010
	5,500	e	Maruwa Unyu Kikan Co Ltd		206
	32,000		Maruzen Showa Unyu Co Ltd		824
	66,115		Matson, Inc		2,621
	13,951	*,e	Mesa Air Group, Inc		193

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,071,956		MISC BHD	$	4,499
	37,750	e	Mitsubishi Logistics Corp		975
	47,690	e	Mitsui OSK Lines Ltd		1,392
	23,722	*	Mitsui-Soko Co Ltd		433
	23,400		Movida Participacoes S.A.		34
	1,640,524		MTR Corp		8,627
	556,350	*	Mundra Port and Special Economic Zone Ltd		2,525
	140,174		Nagoya Railroad Co Ltd		3,471
	115,300		Nankai Electric Railway Co Ltd		2,897
	1,068,093		National Express Group plc		5,432
	261,200		Ningbo Zhoushan Port Co Ltd		156
	22,434		Nippon Express Co Ltd		1,473
	117,000		Nippon Konpo Unyu Soko Co Ltd		3,033
	208,286	e	Nippon Yusen Kabushiki Kaisha		3,917
	37,700	e	Nishi-Nippon Railroad Co Ltd		1,020
	30,500		Nissin Corp		712
	476,312	g	Nobina AB		3,403
	633,222		Norfolk Southern Corp		114,297
	85,899		Northgate plc		466
	21,932	*,e	Norwegian Air Shuttle AS		661
	58,309	e	Odakyu Electric Railway Co Ltd		1,379
	95,810		Oesterreichische Post AG.		4,006
	107,488		Old Dominion Freight Line		17,334
	10,159,290		Pacific Basin Shipping Ltd		2,418
	3,205	*	PAM Transportation Services, Inc		209
	6,768	e	Panalpina Welttransport Holding AG.		984
	12,618		Park-Ohio Holdings Corp		484
	24,050	*	Pegasus Hava Tasimaciligi AS.		107
	597		Piraeus Port Authority		11
	59,257	*	PKP Cargo S.A.		771
	247,600		Pos Malaysia & Services Holdings BHD		215
	267,950	*	Precious Shipping PCL		113
	240,562		Promotora y Operadora de Infraestructura SAB de C.V.		2,559
	12,753,500	*,†,m	PT Berlian Laju Tanker Tbk		0	^
	9,683,754		PT Jasa Marga Tbk		2,902
	15,237,000	*	PT Trada Maritime Tbk		229
	128,071		Qantas Airways Ltd		546
	35,287		Qatar Navigation QSC		635
	2,281,902		QR National Ltd		6,775
	887,588	e	Qube Logistics Holdings Ltd		1,751
	302,586	*	Radiant Logistics, Inc		1,788
	754,343		Redde plc		1,913
	2,028,188		Royal Mail plc		12,608
	1,099,700	*	Rumo S.A.		4,079
	3,051	*	Ryanair Holdings plc		47
	43,475	*	Ryanair Holdings plc (ADR)		4,175
	77,530		Ryder System, Inc		5,665
	633,095	*	Safe Bulkers, Inc		1,823
	80,200		Sagami Railway Co Ltd		2,682
	33,890	*	Saia, Inc		2,591
	96	*,†,m	SAir Group		0
	7,000	e	Sakai Moving Service Co Ltd		399

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	108,900		Sankyu, Inc	$	6,115
	99,400		Santos Brasil Participacoes S.A.		65
	553,286	*	SAS AB		1,335
	234,141		Schneider National, Inc		5,849
	651,720		Scorpio Bulkers, Inc		4,725
	632,834	e	Seaspan Corp		5,272
	1,087,581		Seino Holdings Corp		16,433
	79,500		Senko Co Ltd		662
	128,100		SG Holdings Co Ltd		3,356
	4,000		Shandong Airlines Co Ltd		6
	26,200		Shanghai International Airport Co Ltd		224
	221,200		Shanghai International Port Group Co Ltd		174
	102,700		Shanghai Jinjiang International Investment Holdings Co		106
	1,154,000		Shenzhen International Holdings Ltd		2,378
	6,900		Shinwa Kaiun Kaisha Ltd		159
	69,730	*	Shipping Corp of India Ltd		40
	898,500		Shun TAK Holdings Ltd		313
	200,800		SIA Engineering Co Ltd		433
	165,000		Sincere Navigation		85
	264,423	e	Singapore Airlines Ltd		1,884
	540,174		Singapore Airport Terminal Services Ltd		2,062
	961,819	e	Singapore Post Ltd		795
	2,823,000		Sinotrans Ltd		1,148
	803,000	e	Sinotrans Shipping Ltd		265
	2,791,000		SITC International Co Ltd		2,253
	23,193		Sixt AG.		2,881
	55,627		Sixt AG. (Preference)		4,427
	7,087		Sixt Leasing AG.		117
	157,009		Skywest, Inc		9,248
	259,179		Societa Iniziative Autostradali e Servizi S.p.A.		3,827
	1,578,833		Southwest Airlines Co		98,598
	100,812	*	SpiceJet Ltd		95
	343,564	*	Spirit Airlines, Inc		16,137
	840,495		Stagecoach Group plc		1,714
	12,450		Stolt-Nielsen S.A.		191
	229,221	*	STX Pan Ocean Co Ltd		1,083
	161,384	e	Sumitomo Warehouse Co Ltd		2,140
	955,600		Sydney Airport		4,756
	117,000		T.Join Transportation Co		153
	2,216,000		Taiwan High Speed Rail Corp		2,170
	625,858		TAV Havalimanlari Holding AS		3,237
	400,000		Tegma Gestao Logistica		1,656
	492,199		TFI International, Inc		17,864
	301,600	*	Thai Airways International PCL (Foreign)		141
	1,188,000		Tianjin Port Development Holdings Ltd		135
	278,741	e	TNT NV		997
	146,752		Tobu Railway Co Ltd		4,339
	726,897		Tokyu Corp		13,292
	3,300	*	Tonami Holdings Co Ltd		210
	146,204		Tourism Holdings Ltd		556
	4,700	e	Trancom Co Ltd		344
	2,105,984		Transurban Group (ASE)		17,068
	1,477,581	*	Turk Hava Yollari		4,660

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	256,000		U-Ming Marine Transport Corp	$	294
	3,053,007		Union Pacific Corp		497,121
	613,571	*	United Continental Holdings, Inc		54,645
	1,294,870		United Parcel Service, Inc (Class B)		151,176
	91,598		Universal Truckload Services, Inc		3,371
	55,451	*	US Xpress Enterprises, Inc		765
	24,460	*	USA Truck, Inc		495
	60,603	*	Virgin Australia Holdings Ltd		10
	67,336	*,†,m	Virgin Australia Int Holdings		0	^
	13,654		VRL Logistics Ltd		50
	26,298		VTG AG.		1,608
	330,000		Wan Hai Lines Ltd		180
	64,272		Werner Enterprises, Inc		2,272
	122,902		West Japan Railway Co		8,567
	18,270	e	WestJet Airlines Ltd		290
	1,375,700		Westports Holdings BHD		1,263
	138,387	e	Westshore Terminals Investment Corp		2,876
	69,776	*,e	Wilh. Wilhelmsen ASA		299
	194,033		Wisdom Marine Lines Co Ltd		190
	4,324,000		Xiamen International Port Co Ltd		613
	186,087	*	XPO Logistics, Inc		21,246
	93,021	e	Yamato Transport Co Ltd		2,856
	648,523	*	Yang Ming Marine Transport		185
	46,611	*	YRC Worldwide, Inc		419
	400,000		Yuexiu Transport Infrastructure Ltd		317
	1,556,194		Zhejiang Expressway Co Ltd		1,294
			TOTAL TRANSPORTATION		2,841,581
UTILITIES - 2.5%
	8,922,616		A2A S.p.A.		15,474
	1,818,410		Aboitiz Power Corp		1,126
	30,912		Acciona S.A.		2,795
	50,717		ACEA S.p.A.		759
	834,573		Actelios S.p.A.		1,798
	555,859	*,†,m	Adani Gas Ltd		464
	433,006	*	Adani Power Ltd		142
	1,326,036		AES Corp		18,565
	11,753,582		AES Gener S.A.		3,394
	102,200	*	AES Tiete S.A.		240
	348,364	*,†,m	AET&D Holdings No 1 Ptd Ltd		0
	956,075		AGL Energy Ltd		13,487
	2,959,957		Aguas Andinas S.A.		1,638
	92,156	*	Aksa Enerji Uretim AS		66
	383,823	e	Algonquin Power & Utilities Corp		3,970
	170,672		Allete, Inc		12,802
	1,464,937		Alliant Energy Corp		62,362
	322,110		Alupar Investimento S.A.		1,264
	351,652		Ameren Corp		22,231
	760,256		American Electric Power Co, Inc		53,887
	49,119		American States Water Co		3,003
	214,766		American Water Works Co, Inc		18,893
	1,011,591		APA Group (ASE)		7,295
	85,965		Aqua America, Inc		3,172

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	111,811	*,e	AquaVenture Holdings Ltd	$	2,020
	11,043		Artesian Resources Corp		406
	41,990		Ascopiave S.p.A.		148
	327,675		Atco Ltd		9,577
	124,699		Athens Water Supply & Sewage Co S.A.		791
	650,522	*,e	Atlantic Power Corp		1,431
	552,682		Atmos Energy Corp		51,902
	1,280,353		AusNet Services		1,504
	175,390		Avangrid, Inc		8,406
	87,741		Avista Corp		4,436
	314,696		Aygaz AS		638
	1,338,804	*	Babcock & Brown Wind Partners		571
	382,800		BCPG PCL		258
	251,700		Beijing Capital Co Ltd		139
	537,799		Beijing Enterprises Holdings Ltd		3,014
	5,412,191		Beijing Enterprises Water Group Ltd		2,885
	10,700,000		Benpres Holdings Corp		876
	54,711		BKW S.A.		3,472
	71,871	e	Black Hills Corp		4,175
	3,040,000	*,e	Blue Sky Power Holdings Ltd		214
	37,549		Boralex, Inc		524
	26,897	*,e	Cadiz, Inc		300
	63,331		California Water Service Group		2,717
	82,238	e	Canadian Utilities Ltd		2,022
	416,000		Canvest Environment Protection Group Co Ltd		216
	282,856	e	Capital Power Corp		6,243
	58,454		Capital Stage AG.		408
	812,241		Centerpoint Energy, Inc		22,458
	293,200	*	Centrais Eletricas Brasileiras S.A.		1,126
	237,979		Centrais Eletricas Brasileiras S.A. (Preference)		1,097
	5,244,894		Centrica plc		10,589
	106,803		CESC Ltd		1,210
	285,555		CEZ AS		7,302
	1,844,000	e	CGN New Energy Holdings Co Ltd		304
	10,293,000	g	CGN Power Co Ltd		2,442
	94,651		Chesapeake Utilities Corp		7,941
	9,523,000		China Datang Corp Renewable Power Co Ltd		1,370
	328,000	e,g	China Everbright Greentech Ltd		280
	486,000		China Everbright Water Ltd		126
	2,009,908		China Gas Holdings Ltd		5,689
	3,148,627		China Longyuan Power Group Corp		2,651
	307,700		China National Nuclear Power Co Ltd		269
	2,648,000	e	China Oil and Gas Group Ltd		193
	279,500		China Power Clean Energy Development Co Ltd		102
	4,939,000		China Power International Development Ltd		1,096
	1,735,580		China Resources Gas Group Ltd		7,058
	7,676,983		China Resources Power Holdings Co		13,544
	1,560,000	e	China Water Affairs Group Ltd		1,745
	1,580,000	*	China Water Industry Group Ltd		272
	248,800		China Yangtze Power Co Ltd		592
	534,827		Chubu Electric Power Co, Inc		8,102
	231,057	e	Chugoku Electric Power Co, Inc		2,969
	99,500		Cia de Gas de Sao Paulo-COMGAS		1,213
	437,400		Cia de Saneamento Basico do Estado de Sao Paulo		2,555

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	248,480		Cia de Saneamento de Minas Gerais-COPASA	$	2,396
	129,000		Cia de Saneamento do Parana		1,324
	52,200		Cia de Saneamento do Parana (Preference)		108
	2,828,333		Cia Energetica de Minas Gerais		5,014
	128,600		Cia Energetica de Sao Paulo (Class B)		473
	8,704		Cia Energetica do Ceara		92
	75,300		Cia Paranaense de Energia		399
	802,417		CK Infrastructure Holdings Ltd		6,350
	1,326,900		CK Power PCL		219
	268,617		Clearway Energy, Inc (Class A)		5,114
	90,814		Clearway Energy, Inc (Class C)		1,748
	2,825,056		CLP Holdings Ltd		33,083
	160,716		CMS Energy Corp		7,875
	15,088,475		Colbun S.A.		3,255
	3,460,000		Concord New Energy Group Ltd		139
	16,707		Connecticut Water Service, Inc		1,159
	98,568		Consolidated Edison, Inc		7,510
	19,222		Consolidated Water Co, Inc		266
	849,213		Contact Energy Ltd		3,281
	1,320,000		CT Environmental Group Ltd		153
	3,512,000		Datang International Power Generation Co Ltd		888
	2,338,376		Dominion Resources, Inc		164,341
	270,255		Drax Group plc		1,366
	303,018		DTE Energy Co		33,068
	995,667		Duke Energy Corp		79,673
	5,545,057		E.ON AG.		56,425
	761,250		Edison International		51,521
	372,078		EDP - Energias do Brasil S.A.		1,178
	54,605		El Paso Electric Co		3,123
	376,500		Electric Power Development Co		10,421
	1,350,759		Electricite de France		23,756
	134,500		Electricity Generating PCL		981
	32,779		Elia System Operator S.A.		2,112
	117,247	e	Emera, Inc		3,645
	268,218		Empresa Electrica del Norte Grande S.A.		514
	675,528		Endesa S.A.		14,571
	828,107		Enea S.A.		1,796
	10,742,851		Enel S.p.A.		54,912
	900,255		Energa S.A.		1,909
	2,837,435		Energias de Portugal S.A.		10,470
	1	*	Energix-Renewable Energies Ltd		0	^
	66,267,290		Enersis Chile S.A.		6,673
	28,523,493		Enersis S.A.		4,393
	339,441		Engie Brasil Energia S.A.		2,982
	856,128		ENN Energy Holdings Ltd		7,443
	1,403,587		Entergy Corp		113,873
	172,400		Equatorial Energia S.A.		2,453
	19,000	e	eRex Co Ltd		175
	280,633		ERG S.p.A.		5,711
	518,424		Evergy, Inc		28,472
	143,741		Eversource Energy		8,831
	61,834		EVN AG.		1,211
	3,154,720		Exelon Corp		137,735

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	54,222	m	Federal Grid Co Unified Energy System JSC (GDR)	$	69
	846,000		First Gen Corp		262
	507,040		First Philippine Holdings Corp		605
	7,435,276		FirstEnergy Corp		276,369
	241,954		Fortis, Inc		7,845
	1,005,099		Fortum Oyj		25,189
	1,272,087		GAIL India Ltd		6,652
	674,200		Gas Malaysia BHD		471
	476,613		Gas Natural SDG S.A.		12,992
	1,933,505		Gaz de France		28,466
	4,352,000	*,e	GCL New Energy Holdings Ltd		156
	589,600		GD Power Development Co Ltd		219
	327,988		Genesis Energy Ltd		562
	15,513	e	Global Water Resources, Inc		164
	675,571		Glow Energy PCL (Foreign)		1,839
	2,911,066		Guangdong Investments Ltd		5,158
	53,742		Gujarat Gas Co Ltd		467
	81,219		Gujarat State Petronet Ltd		196
	72,827		Hawaiian Electric Industries, Inc		2,592
	741,036		Hera S.p.A.		2,304
	2,144,052	e	HK Electric Investments & HK Electric Investments Ltd		2,164
	148,700		Hokkaido Electric Power Co, Inc		937
	106,400	*,e	Hokuriku Electric Power Co		1,090
	49,767		Holding CO ADMIE IPTO S.A.		96
	8,289,836		Hong Kong & China Gas Ltd		16,431
	1,353,179		Hong Kong Electric Holdings Ltd		9,406
	277,230	*	Huadian Energy Co Ltd		85
	13,216,000		Huadian Power International Co		5,157
	304,200		Huadian Power International Corp Ltd		186
	182,600		Huaneng Power International, Inc		205
	11,107,756		Huaneng Power International, Inc (Hong Kong)		7,279
	4,900,000		Huaneng Renewables Corp Ltd		1,461
	428,800		Hub Power Co Ltd		302
	240,200		Hubei Energy Group Co Ltd		141
	245,505	g	Hydro One Ltd		3,733
	5,396,685		Iberdrola S.A.		39,638
	164,237		Idacorp, Inc		16,297
	105,685	*	Indiabulls Infrastructure and Power Ltd		6
	132,745		Indraprastha Gas Ltd		445
	2,240,200	e	Infraestructura Energetica ,NV SAB de C.V.		11,132
	1,433,267		Infratil Ltd		3,386
	73,361	e	Innergex Renewable Energy, Inc		737
	5,889	g	Innogy SE		263
	13,013	*	Innogy SE		552
	1,027,900	*,†,m	Inter Far East Energy Corp		0	^
	951,343		Interconexion Electrica S.A.		4,296
	855,706		Inversiones Aguas Metropolitanas S.A.		1,272
	2,252,337		Iride S.p.A.		5,522
	1,011,934		Italgas S.p.A		5,490
	697,177		JSW Energy Ltd		590
	329,446	e	Just Energy Income Fund		1,023
	7,200		K&O Energy Group, Inc		112
	395,000	g	Kangda International Environmental Co Ltd		53

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,400,068		Kansai Electric Power Co, Inc	$	21,133
	59,734		Kenon Holdings Ltd		1,017
	1,758,900	e	Keppel Infrastructure Trust		637
	3,450,000	*	Kong Sun Holdings Ltd		58
	6,473		Korea District Heating Corp		374
	237,153		Korea Electric Power Corp		6,277
	152,370	*	Korea Gas Corp		8,333
	151,500		Kot Addu Power Co Ltd		69
	347,075	e	Kyushu Electric Power Co, Inc		4,195
	56,900		Light S.A.		180
	12,900		Mahanagar Gas Ltd		146
	699,300		Malakoff Corp BHD		148
	291,290		Manila Electric Co		1,834
	684,500		Manila Water Co, Inc		310
	423,610		MDU Resources Group, Inc		10,883
	880,842		Meridian Energy Ltd		1,918
	46,053		MGE Energy, Inc		2,941
	20,645		Middlesex Water Co		1,000
	433,539		Mighty River Power Ltd		967
	14,258	m	Mosenergo PJSC (ADR)		23
	117,308		National Fuel Gas Co		6,576
	3,434,866		National Grid plc		35,478
	201,350		New Jersey Resources Corp		9,282
	1,281,249		NextEra Energy, Inc		214,737
	29,600	e	Nippon Gas Co Ltd		1,477
	1,090,747		NiSource, Inc		27,181
	259,497	e	Northland Power Income Fund		4,360
	37,731	*	Northwest Natural Holding Co		2,524
	176,882		NorthWestern Corp		10,376
	553,210		NRG Energy, Inc		20,690
	3,021,191		NTPC Ltd		6,952
	464,199		OGE Energy Corp		16,860
	291,601	e	Okinawa Electric Power Co, Inc		6,150
	34,200		Omega Geracao S.A.		125
	185,033		ONE Gas, Inc		15,225
	53,633		Ormat Technologies, Inc		2,902
	251,787	g	Orsted AS		17,110
	296,412		Osaka Gas Co Ltd		5,788
	52,657		Otter Tail Corp		2,522
	20,000	*,e	Pampa Energia S.A. (ADR)		621
	2,290,000	*,e	Panda Green Energy Group Ltd		101
	329,052	e	Pattern Energy Group, Inc		6,538
	430,186		Pennon Group plc		3,998
	824,791		Petronas Gas BHD		3,763
	1,827,412		PG&E Corp		84,079
	1,373,013		Pinnacle West Capital Corp		108,715
	205,795		PNM Resources, Inc		8,119
	849,752	*	Polska Grupa Energetyczna S.A.		2,196
	275,092		Portland General Electric Co		12,547
	1,733,413		Power Grid Corp of India Ltd		4,509
	637,115		PPL Corp		18,642

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,543,132		PT Perusahaan Gas Negara Persero Tbk	$	1,892
	2,069,178		PTC India Ltd		1,904
	80,873	*	Public Power Corp		132
	382,484		Public Service Enterprise Group, Inc		20,191
	25,678	*	Pure Cycle Corp		297
	52,621	*	Qatar Electricity & Water Co		2,782
	500,000		Ratchaburi Electricity Generating Holding PCL (ADR)		800
	789,761		Red Electrica Corp S.A.		16,510
	1,151,275	e	Redes Energeticas Nacionais S.A.		3,250
	82,277		Reliance Energy Ltd		341
	337,651	*	Reliance Power Ltd		122
	9,704	e	RGC Resources, Inc		259
	61,645		Rubis S.C.A		3,339
	169,070		RusHydro PJSC (ADR)		152
	1,114,912		RusHydro PJSC (ADR)		994
	934,536		RWE AG.		23,073
	16,330		Samchully Co Ltd		1,531
	386,096		SCANA Corp		15,015
	47,870	g	Scatec Solar ASA		354
	1,161,966		Scottish & Southern Energy plc		17,353
	190,300		SDIC Power Holdings Co Ltd		212
	15,922		Sechilienne-Sidec		364
	1,438,665		Sempra Energy		163,648
	202,186		Severn Trent plc		4,874
	202,800		Shenergy Co Ltd		155
	182,700		Shenzhen Energy Group Co Ltd		144
	437,200		Shikoku Electric Power Co, Inc		5,712
	92,200		Shizuoka Gas Co Ltd		817
	164,300		Sichuan Chuantou Energy Co Ltd		200
	19,971,080	e	SIIC Environment Holdings Ltd		4,164
	22,381		SJW Corp		1,369
	128,000	*,†,m	Sound Global Ltd		0	^
	135,113	e	South Jersey Industries, Inc		4,765
	362,573		Southern Co		15,808
	155,101		Southwest Gas Corp		12,258
	16,048	e	Spark Energy, Inc		132
	1,094,115		Spark Infrastructure Group		1,772
	260,200		SPCG PCL		171
	114,178		Spire, Inc		8,398
	363,085		Suez Environnement S.A.		5,165
	102,500		SUI Northern Gas Pipeline		74
	8,049,400	*	Super Energy Corp PCL (Foreign)		209
	628,563	e	Superior Plus Corp		6,171
	211,450		Taiwan Cogeneration Corp		186
	1,328,035		Tata Power Co Ltd		1,206
	688,409	*	Tauron Polska Energia S.A.		331
	39,566		Telecom Plus plc		537
	5,828,041		Tenaga Nasional BHD		21,791
	169,864		Terna Energy S.A.		1,255
	1,809,006		Terna Rete Elettrica Nazionale S.p.A.		9,664
	99,837		TerraForm Power, Inc		1,153
	886,200		Thai Tap Water Supply PCL		334
	248,000		Tianjin Development Hldgs Ltd		90

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,575		Toho Gas Co Ltd	$	2,038
	303,308		Tohoku Electric Power Co, Inc		4,126
	2,265,516	*	Tokyo Electric Power Co, Inc		11,133
	435,261		Tokyo Gas Co Ltd		10,707
	178,279		Torrent Power Ltd		542
	1,334,000		Towngas China Co Ltd		1,164
	783,825		TransAlta Corp		4,412
	79,632	e	TransAlta Renewables, Inc		709
	357,800		Transmissora Alianca de Energia Eletrica S.A.		1,772
	4,112,721	*,g	Tritax EuroBox plc		5,642
	240,757		UGI Corp		13,357
	242,146		Uniper SE		7,454
	584,335		United Utilities Group plc		5,364
	19,566		Unitil Corp		996
	26,283		VA Tech Wabag Ltd		107
	57,440	e	Valener, Inc		849
	25,000		Vanguard FTSE Developed Markets ETF		1,082
	48,214		Vectren Corp		3,447
	528,555		Veolia Environnement		10,547
	1,189,647	*	Vistra Energy Corp		29,598
	151,700		WEC Energy Group, Inc		10,128
	653,500		WHA Utilities and Power PCL		128
	555,272		Xcel Energy, Inc		26,214
	17,649		York Water Co		537
	4,454,890		YTL Corp BHD		1,345
	13		YTL Power International BHD		0	^
	946,000		Yunnan Water Investment Co Ltd		270
	295,700		Zhejiang Zheneng Electric Power Co Ltd		218
	322,184	*	Zorlu Enerji Elektrik Uretim AS		71
			TOTAL UTILITIES		3,151,022
			TOTAL COMMON STOCKS		124,247,414
			(Cost $107,389,256)
PURCHASED OPTIONS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
	13,200		Tesla, Inc		51
			TOTAL AUTOMOBILES & COMPONENTS		51
BANKS - 0.0%
	2,000		Citigroup, Inc		2
			TOTAL BANKS		2
CAPITAL GOODS - 0.0%
	16,700		Fortive Corp		0	^
			TOTAL CAPITAL GOODS		0	^
FOOD, BEVERAGE & TOBACCO - 0.0%
	3,000		Coca-Cola Co		8
	2,400		Kraft Heinz Co		1
			TOTAL FOOD, BEVERAGE & TOBACCO		9

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	5,500		Align Technology, Inc	$	104
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		104
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	2,000		Broadcom Ltd		8
	900,000		Intel Corp		2,214
	820,000		Intel Corp		1,501
	3,000		QUALCOMM, Inc		0	^
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		3,723
SOFTWARE & SERVICES - 0.0%
	2,000		Microsoft Corp		32
			TOTAL SOFTWARE & SERVICES		32
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	2,500		Apple, Inc		23
	2,500		Apple, Inc		95
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		118
			TOTAL PURCHASED OPTIONS		4,039
			(Cost $3,092)
PREFERRED STOCKS - 0.0%
CAPITAL GOODS - 0.0%
	3,300,256	*	Cairn India Ltd		471
			TOTAL CAPITAL GOODS		471
DIVERSIFIED FINANCIALS - 0.0%
	300,000		Daishin Securities Co Ltd Pref 2		2,385
			TOTAL DIVERSIFIED FINANCIALS		2,385
REAL ESTATE - 0.0%
	8,497,223	*,†,m	Ayala Land, Inc		16
			TOTAL REAL ESTATE		16
			TOTAL PREFERRED STOCKS		2,872
			(Cost $4,209)
RIGHTS / WARRANTS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
	55,768	m	Mekonomen AB		43
			TOTAL AUTOMOBILES & COMPONENTS		43
CAPITAL GOODS - 0.0%
	304,956	†,e,m	Abengoa S.A. (B Shares)		0
			TOTAL CAPITAL GOODS		0
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	230,631	*,†,m	Media General, Inc		0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		0
CONSUMER DURABLES & APPAREL - 0.0%
	120		Harvey Norman Holdings Ltd		0	^
			TOTAL CONSUMER DURABLES & APPAREL		0	^

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
CONSUMER SERVICES - 0.0%
	2,308		Lotte Tour Development Co Ltd	$	6
			TOTAL CONSUMER SERVICES		6
DIVERSIFIED FINANCIALS - 0.0%
	11,467	m	Emergent Capital Inc		0
	67,437		Pioneers Holding for Financial Investments SAE		2
			TOTAL DIVERSIFIED FINANCIALS		2
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	190,191		Community Health Systems, Inc		1
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1
MATERIALS - 0.0%
	16,421	m	Aurora Cannabis, Inc		36
			TOTAL MATERIALS		36
MEDIA - 0.0%
	237,120		VGI Global Media PCL		4
			TOTAL MEDIA		4
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	2,121	m	BioTime, Inc		0
	55,620	†,m	Forest Laboratories, Inc CVR		53
	17,790	†,e,m	Omthera Pharmaceuticals, Inc CVR		11
	20,027	e,m	Tobira Therapeutics, Inc		1
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		65
REAL ESTATE - 0.0%
	222,000	m	SAMTY Co Ltd		1,007
	310,070		Sunway BHD		25
	66,478,080		U City PCL		21
			TOTAL REAL ESTATE		1,053
SOFTWARE & SERVICES - 0.0%
	164,500		Datasonic Group BHD		5
			TOTAL SOFTWARE & SERVICES		5
TRANSPORTATION - 0.0%
	572,503	m	BTS Group Holdings PCL		0
	685,198	e,m	Ezion Holdings Ltd		0
			TOTAL TRANSPORTATION		0
			TOTAL RIGHTS / WARRANTS		1,215
			(Cost $161)

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
SHORT-TERM INVESTMENTS - 2.2%
TREASURY DEBT - 0.6%
$	224,513,000		United States Treasury Bill	1.942	%	10/04/18	$	224,475
	188,780,000		United States Treasury Bill	1.963		10/11/18		188,672
	224,500,000		United States Treasury Bill	1.997		10/18/18		224,281
	89,600,000		United States Treasury Bill	2.038		10/25/18		89,476
			TOTAL TREASURY DEBT					726,904
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.6%
GOVERNMENT AGENCY DEBT - 0.1%
	110,000,000		Federal National Mortgage Association (FNMA)	0.010		10/01/18		110,000
			TOTAL GOVERNMENT AGENCY DEBT					110,000
REPURCHASE AGREEMENT - 1.5%
	86,000,000	p	Calyon	2.250		10/01/18		86,000
	7,000,000	q	Calyon	2.240		10/01/18		7,000
	21,000,000	r	Citigroup	2.260		10/01/18		21,000
	4,000,000	s	Citigroup	2.250		10/01/18		4,000
	80,000,000	t	Citigroup	2.200		10/05/18		80,000
	500,000,000	u	Goldman Sachs	2.180		10/05/18		500,000
	20,000,000	v	HSBC	2.230		10/01/18		20,000
	53,000,000	w	JP Morgan	2.240		10/01/18		53,000
	81,000,000	x	JP Morgan	2.250		10/01/18		81,000
	47,000,000	y	JP Morgan	2.260		10/01/18		47,000
	79,000,000	z	Merrill Lynch	2.270		10/01/18		79,000
	78,000,000	aa	NatWest Markets	2.240		10/01/18		78,000
	544,000,000	ab	NatWest Markets	2.160		10/04/18		544,000
	200,000,000	ac	Nomura	2.270		10/01/18		200,000
	77,000,000	ad	Societe Generale	2.240		10/01/18		77,000
	40,000,000	ae	Societe Generale	2.220		10/01/18		40,000
			TOTAL REPURCHASE AGREEMENT					1,917,000
VARIABLE RATE SECURITIES - 0.0%
	19,120,928	i	SLM Student Loan Trust	2.375		01/25/19		19,121
			TOTAL VARIABLE RATE SECURITIES					19,121
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					2,046,121
			TOTAL SHORT-TERM INVESTMENTS					2,773,025
			(Cost $2,773,043)
			TOTAL INVESTMENTS - 101.6%					127,035,241
			(Cost $110,176,993)
			OTHER ASSETS & LIABILITIES, NET - (1.6)%					(1,959,818	)
			NET ASSETS - 100.0%				$	125,075,423

Abbreviation(s):
ADR	American Depositary Receipt
CVR	Contingent Value Right
ETF	Exchange Traded Fund
GDR	Global Depositary Receipt
NVDR	Non Voting Depository Receipt
OTC	Over The Counter
REIT	Real Estate Investment Trust
SPDR	Standard & Poor’s Depository Receipts

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

^	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 $2,126,765,000.
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 9/30/18, the aggregate value of these securities was $702,057,000 or 0.6% 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.
j	Zero coupon
m	Indicates a security that has been deemed illiquid.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
p	Agreement with Calyon, 2.25% dated 09/28/18 to be repurchased at $86,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $87,720,000.
q	Agreement with Calyon, 2.24% dated 09/28/18 to be repurchased at $7,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $7,140,000.
r	Agreement with Citigroup, 2.26% dated 09/28/18 to be repurchased at $21,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $21,420,000.
s	Agreement with Citigroup, 2.25% dated 09/28/18 to be repurchased at $4,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $4,175,000.
t	Agreement with Citigroup, 2.20% dated 09/28/18to be repurchased at $80,000,000on 10/05/18, collateralized by U.S. Government Agency Securities valued at $81,697,000.
u	Agreement with Goldman Sachs, 2.18% dated 09/28/18 to be repurchased at $500,000,000on 10/05/18, collateralized by U.S. Government Agency Securities valued at $510,000,000.
v	Agreement with HSBC, 2.23% dated 09/28/18 to be repurchased at $20,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $20,400,000.
w	Agreement with JP Morgan, 2.24% dated 09/28/18 to be repurchased at $53,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $54,060,000.
x	Agreement with JP Morgan, 2.25% dated 09/28/18 to be repurchased at $81,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $82,620,000.
y	Agreement with JP Morgan, 2.26% dated 09/28/18 to be repurchased at $47,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $47,940,000.
z	Agreement with Merrill Lynch, 2.27% dated 09/28/18 to be repurchased at $79,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $80,580,000.
aa	Agreement with NatWest Markets, 2.24% dated 09/28/18 to be repurchased at $78,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $79,560,000.
ab	Agreement with NatWest Markets, 2.16% dated 09/27/18 to be repurchased at $544,000,000 on 10/04/18, collateralized by U.S. Government Agency Securities valued at $554,880,000.
ac	Agreement with Nomura, 2.27% dated 09/28/18 to be repurchased at $200,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $204,000,000.
ad	Agreement with Societe Generale, 2.24% dated 09/28/18 to be repurchased at $77,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $78,540,000.
ae	Agreement with Societe Generale, 2.22% dated 09/28/18 to be repurchased at $40,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $40,800,000.
	Cost amounts are in thousands.

189

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Futures contracts outstanding as of September 30, 2018 were as follows (notional amounts and values 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	310	12/21/18	$	26,652	$	26,362	$	(290	)
S&P 500 E Mini Index	1,961	12/21/18		285,013		286,208		1,195
S&P Mid-Cap 400 E Mini Index	175	12/21/18		35,782		35,441		(341	)
Total	2,446		$	347,447	$	348,011	$	564

Purchased options outstanding as of September 30, 2018 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
Align Technology, Inc, Call		55	$	140	$	380.00		10/19/18	$	104
Apple, Inc, Call		25		28		190.00		01/18/19		95
Apple, Inc, Call		25		21		230.00		01/18/19		23
Broadcom Ltd, Call		20		44		280.00		01/18/19		8
Citigroup, Inc, Call		20		12		80.00		01/18/19		2
Coca-Cola Co, Call		30		3		44.00		01/18/19		8
Fortive Corp, Call		167		2		110.00		10/19/18		0	^
Intel Corp, Call		9,000		1,456		46.00		11/02/18		2,214
Intel Corp, Call		8,200		1,187		47.00		11/02/18		1,501
Kraft Heinz Co, Call		24		6		62.50		01/18/19		1
Microsoft Corp, Call		20		12		100.00		01/18/19		32
QUALCOMM, Inc, Put		30		13		50.00		01/18/19		0	^
Tesla, Inc, Call		132		168		400.00		01/18/19		51
Total		17,748	$	3,092					$	4,039

^ Amount represents less than $1,000.

Written options outstanding as of September 30, 2018 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
Align Technology, Inc, Call		110	$	(117	)	$	420.00		10/19/18	$	(29	)
Align Technology, Inc, Put		55		(26	)		300.00		10/19/18		(2	)
Amazon.com, Inc, Put		10		(31	)		1,500.00		01/18/19		(10	)
Apple, Inc, Call		50		(28	)		210.00		01/18/19		(106	)
Apple, Inc, Call		50		(19	)		245.00		01/18/19		(21	)
Apple, Inc, Put		30		(3	)		200.00		10/19/18		(1	)
Apple, Inc, Put		25		(2	)		170.00		01/18/19		(1	)
Broadcom Ltd, Call		20		(19	)		320.00		01/18/19		(1	)
Broadcom Ltd, Put		20		(2	)		200.00		10/19/18		(0	)^
Broadcom Ltd, Put		20		(24	)		190.00		01/18/19		(3	)
Citigroup, Inc, Call		60		(11	)		95.00		01/18/19		(0	)^
Citigroup, Inc, Put		30		(6	)		55.00		01/18/19		(1	)
Coca-Cola Co, Call		30		(1	)		49.00		01/18/19		(1	)
Coca-Cola Co, Put		30		(3	)		38.00		01/18/19		(0	)^
Darden Restaurants, Inc, Call		20		(1	)		125.00		10/19/18		(0	)^
Darden Restaurants, Inc, Call		20		(0	)^		130.00		10/19/18		(0	)^
Electronic Arts, Inc, Call		180		(3	)		130.00		10/19/18		(8	)
Electronic Arts, Inc, Put		180		(28	)		110.00		10/19/18		(7	)
Facebook, Inc, Put		20		(1	)		150.00		10/19/18		(1	)
General Electric Co, Put		50		(4	)		13.00		12/21/18		(9	)
IAC, Call		100		(155	)		210.00		10/19/18		(99	)
Intel Corp, Call		9,000		(488	)		49.00		11/02/18		(855	)
Intel Corp, Call		8,200		(240	)		51.00		11/02/18		(336	)
Intel Corp, Put		17,200		(895	)		42.00		11/02/18		(430	)
Juniper Networks, Inc, Put		40		(1	)		26.00		10/19/18		(0	)^

190

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Description/underlying investment	Number of contracts		Notional amount			Exercise price		Expiration date		Value
Kraft Heinz Co, Call		24	$	(2	)		70.00		01/18/19	$	(0	)^
Kraft Heinz Co, Put		30		(4	)		50.00		01/18/19		(3	)
Lowe’s Cos, Inc, Call		30		(6	)		125.00		01/18/19		(7	)
Lowe’s Cos, Inc, Put		30		(1	)		100.00		10/19/18		(0	)^
Microsoft Corp, Call		40		(8	)		115.00		01/18/19		(20	)
Microsoft Corp, Put		30		(3	)		85.00		10/19/18		(0	)^
Microsoft Corp, Put		30		(1	)		97.50		10/19/18		(0	)^
Microsoft Corp, Put		20		(3	)		70.00		01/18/19		(0	)^
Philip Morris International, Inc, Put		20		(6	)		80.00		12/21/18		(5	)
Proofpoint, Inc, Put		30		(4	)		95.00		10/19/18		(4	)
QUALCOMM, Inc, Put		30		(4	)		40.00		01/18/19		(0	)^
QUALCOMM, Inc, Put		30		(8	)		45.00		01/18/19		(1	)
Red Hat, Inc, Put		30		(2	)		125.00		10/19/18		(1	)
salesforce.com, Inc, Put		20		(7	)		95.00		01/18/19		(0	)^
Tesla, Inc, Call		132		(100	)		420.00		01/18/19		(34	)
Tesla, Inc, Call		132		(76	)		430.00		01/18/19		(30	)
Tronox Ltd, Put		30		(4	)		13.00		11/16/18		(5	)
Twitter, Inc, Call		320		(18	)		40.00		10/19/18		(1	)
Twitter, Inc, Put		320		(70	)		32.00		10/19/18		(119	)
Wynn Resorts Ltd, Call		20		(2	)		175.00		10/19/18		(0	)^
Wynn Resorts Ltd, Call		20		(3	)		180.00		12/21/18		(1	)
Wynn Resorts Ltd, Put		220		(240	)		140.00		12/21/18		(382	)
Total		37,138	$	(2,680	)					$	(2,534	)

^ Amount represents less than $1,000.

Forward foreign currency contracts outstanding as of September 30, 2018 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)
$	3,962	GBP	3,000	Bank of America	10/02/18	$	51
$	1,002	SEK	8,850	Bank of America	01/10/19		(3	)
					Total	$	48
$	3,036	CAD	4,000	Morgan Stanley	10/02/18	$	(61	)
$	7,010	GBP	5,350	Morgan Stanley	01/10/19		1
$	1,004	JPY	113,000	Morgan Stanley	01/10/19		1
EUR	6,000	$	7,032	Morgan Stanley	10/02/18		(65	)
EUR	2,600	$	3,036	Morgan Stanley	01/10/19		10
					Total	$	(114	)
					Total	$	(66	)

Abbreviation(s):
CAD	Canadian Dollar
EUR	Euro
GBP	Pound Sterling
JPY	Japanese Yen
SEK	Swedish Krona

191

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

September 30, 2018

Country	Value (000)		% of total portfolio
DOMESTIC
UNITED STATES	$	88,440,577		69.6	%
TOTAL DOMESTIC		88,440,577		69.6
FOREIGN
ANGOLA		2,558		0.0
ARGENTINA		13,184		0.0
AUSTRALIA		1,620,254		1.3
AUSTRIA		196,666		0.2
BELGIUM		218,986		0.2
BERMUDA		90,834		0.1
BRAZIL		597,930		0.5
CANADA		2,529,976		2.0
CAYMAN ISLANDS		711		0.0
CHILE		119,051		0.1
CHINA		2,785,387		2.2
COLOMBIA		38,948		0.0
COTE D’IVOIRE		757		0.0
CYPRUS		7,528		0.0
CZECH REPUBLIC		24,674		0.0
DENMARK		383,683		0.3
EGYPT		16,726		0.0
FAROE ISLANDS		7,095		0.0
FINLAND		356,112		0.3
FRANCE		2,958,894		2.3
GEORGIA		1,745		0.0
GERMANY		2,446,182		1.9
GHANA		4,950		0.0
GREECE		28,540		0.0
GUERNSEY, C.I.		637		0.0
HONG KONG		886,352		0.7
HUNGARY		32,089		0.0
INDIA		835,004		0.7
INDONESIA		172,143		0.1
IRELAND		339,883		0.3
ISRAEL		259,741		0.2
ITALY		731,957		0.6
JAPAN		6,573,886		5.2
JERSEY, C.I.		7,166		0.0
JORDAN		2,265		0.0
KAZAKHSTAN		16,144		0.0
KOREA, REPUBLIC OF		1,382,558		1.1
LUXEMBOURG		66,083		0.1
MACAU		26,924		0.0
MALAYSIA		233,650		0.2
MALTA		8,262		0.0
MEXICO		297,412		0.2
MONACO		1,847		0.0
MONGOLIA		1,751		0.0
MYANMAR		159		0.0

192

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Country	Value (000)		% of total portfolio
NETHERLANDS	$	1,529,024		1.2	%
NEW ZEALAND		71,946		0.1
NORWAY		261,220		0.2
PAKISTAN		9,901		0.0
PANAMA		13,323		0.0
PERU		39,112		0.0
PHILIPPINES		107,787		0.1
POLAND		91,696		0.1
PORTUGAL		55,661		0.0
PUERTO RICO		40,234		0.0
QATAR		63,282		0.0
ROMANIA		3,339		0.0
RUSSIA		286,370		0.2
SINGAPORE		258,662		0.2
SOUTH AFRICA		559,596		0.4
SPAIN		661,040		0.5
SRI LANKA		3,835		0.0
SWEDEN		538,911		0.4
SWITZERLAND		1,844,894		1.5
TAIWAN		1,228,914		1.0
TANZANIA, UNITED REPUBLIC OF		221		0.0
THAILAND		236,362		0.2
TURKEY		65,177		0.1
UNITED ARAB EMIRATES		78,665		0.1
UNITED KINGDOM		4,146,783		3.3
URUGUAY		36,166		0.0
ZAMBIA		35,259		0.0
TOTAL FOREIGN		38,594,664		30.4
TOTAL PORTFOLIO	$	127,035,241		100.0	%

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2018

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 97.6%
ARGENTINA - 0.1%
	494,336		Grupo Financiero Galicia S.A. (ADR) (Class B)	$	12,571
	866,800	e	Grupo Supervielle S.A. (ADR)		6,648
	840,543	*	Loma Negra Cia Industrial Argentina S.A. (ADR)		7,430
	859		Mercadolibre, Inc		293
			TOTAL ARGENTINA		26,942
AUSTRALIA - 1.3%
	944,300	*,e	Afterpay Touch Group Ltd		12,272
	72,920		AGL Energy Ltd		1,029
	109,601		Alumina Ltd		219
	376,358		Amcor Ltd		3,720
	378,742		AMP Ltd		873
	146,065		APA Group (ASE)		1,053
	24,876		Aristocrat Leisure Ltd		511
	80,533		AusNet Services		95
	1,558,742		Australia & New Zealand Banking Group Ltd		31,731
	39,578		Australian Stock Exchange Ltd		1,820
	681,005	*,m	AZ BGP Holdings		16
	17,527	e	Bank of Queensland Ltd		140
	21,475		Bendigo Bank Ltd		167
	2,863,764		BHP Billiton Ltd		71,339
	822,505		BHP Billiton plc		17,948
	781,242		BlueScope Steel Ltd		9,582
	50,799		Boral Ltd		254
	69,785		Brambles Ltd		550
	11,586		Caltex Australia Ltd		250
	86,013		Challenger Financial Services Group Ltd		696
	4,060		CIMIC Group Ltd		151
	23,389		Coca-Cola Amatil Ltd		165
	16,294		Cochlear Ltd		2,363
	76,060		Commonwealth Bank of Australia		3,926
	20,416		Computershare Ltd		294
	16,513		Crown Resorts Ltd		163
	90,265		CSL Ltd		13,115
	96,320		Dexus Property Group		736
	2,394	e	Domino’s Pizza Enterprises Ltd		92
	2,302	e	Flight Centre Travel Group Ltd		88
	65,531		Fortescue Metals Group Ltd		186
	148,947		GPT Group (ASE)		561
	22,571	e	Harvey Norman Holdings Ltd		57
	76,421		Healthscope Ltd		116
	521,900		IDP Education Ltd		3,889
	73,717		Incitec Pivot Ltd		212
	312,258		Insurance Australia Group Ltd		1,651
	66,231		Lend Lease Corp Ltd		941

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	187,787		Macquarie Goodman Group	$	1,409
	25,717		Macquarie Group Ltd		2,339
	118,904		Medibank Pvt Ltd		250
	586,664		Mineral Resources Ltd		6,738
	308,109		Mirvac Group		537
	184,000	*	MMG Ltd		95
	117,059		National Australia Bank Ltd		2,350
	32,526		Newcrest Mining Ltd		457
	57,368	e	Oil Search Ltd		375
	5,798	*	OneMarket Ltd		5
	16,713		Orica Ltd		206
	76,002	*	Origin Energy Ltd		453
	1,135,480		Oxiana Ltd		7,654
	4,170		Perpetual Trustees Australia Ltd		128
	92,965		Qantas Airways Ltd		396
	161,301		QBE Insurance Group Ltd		1,296
	84,395		QR National Ltd		251
	10,869		Ramsay Health Care Ltd		431
	2,325		REA Group Ltd		144
	295,308		Rio Tinto Ltd		16,795
	573,158		Rio Tinto plc		28,911
	77,363		Santos Ltd		406
	1,550,208		Scentre Group		4,455
	14,413		Seek Ltd		216
	272		Shopping Centres Australasia Property Group		0	^
	62,138		Sonic Healthcare Ltd		1,118
	4,005,752		South32 Ltd		11,257
	336,983		Stockland Trust Group		1,012
	156,072		Suncorp-Metway Ltd		1,631
	48,720		Sydney Airport		242
	80,498		Tabcorp Holdings Ltd		283
	543,503		Telstra Corp Ltd		1,252
	16,482	e	TPG Telecom Ltd		102
	112,871		Transurban Group (ASE)		915
	30,071		Treasury Wine Estates Ltd		380
	249,759		Vicinity Centres		474
	201,772	*	Virgin Australia Holdings Ltd		32
	48,970		Wesfarmers Ltd		1,763
	148,266		Westpac Banking Corp		2,982
	258,776	e	Woodside Petroleum Ltd		7,219
	56,908		Woolworths Ltd		1,154
			TOTAL AUSTRALIA		291,084
AUSTRIA - 0.1%
	157,300	e	ams AG.		8,853
	3,167		Andritz AG.		185
	199,934		Erste Bank der Oesterreichischen Sparkassen AG.		8,301
	6,510		OMV AG.		365
	6,338		Raiffeisen International Bank Holding AG.		182
	5,009		Voestalpine AG.		229
			TOTAL AUSTRIA		18,115

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
BELGIUM - 0.1%
	8,186		Ageas	$	440
	72,549		Anheuser-Busch InBev S.A.		6,351
	2,899		Befimmo SCA Sicafi		165
	2,319		Cofinimmo		289
	2,371	e	Colruyt S.A.		134
	3,519		Groupe Bruxelles Lambert S.A.		369
	10,789		KBC Groep NV		802
	6,554		Proximus plc		157
	30,728		Solvay S.A.		4,119
	2,265	*,e	Telenet Group Holding NV		125
	5,292		UCB S.A.		476
	8,965		Umicore S.A.		501
	1,197		Warehouses De Pauw SCA		157
			TOTAL BELGIUM		14,085
BERMUDA - 0.0%
	870		RenaissanceRe Holdings Ltd		116
	155,247	*	Third Point Reinsurance Ltd		2,018
			TOTAL BERMUDA		2,134
BRAZIL - 1.0%
	334,600		AMBEV S.A.		1,520
	27,600		Atacadao Distribuicao Comercio e Industria Ltd		101
	2,729,100	*	B2W Companhia Global Do Varejo		18,719
	145,900		B3 S.A.-Brasil Bolsa Balcao		845
	172,500		Banco Bradesco S.A.		1,100
	1,124,807		Banco Bradesco S.A. (ADR)		7,964
	595,000		Banco Bradesco S.A. (Preference)		4,224
	736,508		Banco do Brasil S.A.		5,371
	1,461,466		Banco Itau Holding Financeira S.A.		15,970
	1,296,300		Banco Santander Brasil S.A.		11,462
	48,400		BB Seguridade Participacoes S.A.		289
	55,900		BR Malls Participacoes S.A.		133
	12,200		Braskem S.A.		177
	36,600	*	BRF S.A.		199
	15,000	*	Centrais Eletricas Brasileiras S.A.		58
	15,800		Centrais Eletricas Brasileiras S.A. (Preference)		73
	2,539,200		Cia Brasileira de Distribuicao Grupo Pao de Acucar		55,021
	279,900	e	Cia Brasileira de Distribuicao Grupo Pao de Acucar (ADR)		6,012
	82,100		Cia de Concessoes Rodoviarias		172
	23,800		Cia de Saneamento Basico do Estado de Sao Paulo		139
	61,800		Cia Energetica de Minas Gerais		110
	41,000	*	Cia Siderurgica Nacional S.A.		95
	85,100		Cielo S.A.		258
	16,300		Cosan SA Industria e Comercio		131
	21,700		EDP - Energias do Brasil S.A.		69
	46,700		Empresa Brasileira de Aeronautica S.A.		229
	11,800		Engie Brasil Energia S.A.		104
	12,300		Equatorial Energia S.A.		175
	17,700		Fibria Celulose S.A.		331
	1,423,856	e	Gerdau S.A. (ADR)		5,994
	72,600		Gerdau S.A. (Preference)		309

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	24,000		Hypermarcas S.A.	$	169
	777,840		Investimentos Itau S.A. - PR		1,945
	7,700		IRB Brasil Resseguros S		127
	66,500		JBS S.A.		154
	49,300		Klabin S.A.		243
	97,400		Kroton Educacional S.A.		275
	1,882,800		Localiza Rent A Car		10,606
	51,600		Lojas Americanas S.A.(Preference)		203
	50,400		Lojas Renner S.A.		387
	6,800		M Dias Branco S.A.		66
	113,400		Magazine Luiza S.A.		3,439
	18,600		Multiplan Empreendimentos Imobiliarios S.A.		86
	13,200		Natura Cosmeticos S.A.		93
	17,800		Odontoprev S.A.		56
	750,648	*	Pagseguro Digital Ltd		20,770
	24,600		Petrobras Distribuidora S.A.		119
	548,600		Petroleo Brasileiro S.A.		3,291
	718,500		Petroleo Brasileiro S.A. (Preference)		3,752
	6,600		Porto Seguro S.A.		97
	16,400		Raia Drogasil S.A.		294
	76,900	*	Rumo S.A.		285
	13,800		Sul America SA		89
	31,300		Suzano Papel e Celulose S.A.		373
	31,400		Telefonica Brasil S.A.		305
	59,500		Tim Participacoes S.A.		173
	28,800		Ultrapar Participacoes S.A.		266
	562,800		Vale S.A.		8,336
	4,900,095		Via Varejo S.A.		18,103
	58,260		Weg S.A.		285
			TOTAL BRAZIL		211,741
CANADA - 2.4%
	29,239		Agnico-Eagle Mines Ltd		999
	519,734		Alimentation Couche Tard, Inc		25,998
	11,361	e	AltaGas Income Trust		181
	15,401		ARC Resources Ltd		172
	3,218		Atco Ltd		94
	27,758	*,e	Aurora Cannabis, Inc		267
	816	*,m	Australis Capital, Inc		1
	321,045		Bank of Montreal		26,481
	107,158		Bank of Nova Scotia		6,387
	147,321		Barrick Gold Corp (Canada)		1,630
	67,254		BCE, Inc		2,725
	21,812	*	Blackberry Ltd (New)		247
	11,596		Boardwalk REIT		450
	88,277	*	Bombardier, Inc		314
	59,529		Brookfield Asset Management, Inc		2,650
	73,392	*	BRP, Inc (Toronto)		3,443
	11,764		CAE, Inc		239
	17,463		Cameco Corp (Toronto)		199
	4,638		Canadian Apartment Properties REIT		171
	34,093		Canadian Imperial Bank of Commerce		3,195
	31,475		Canadian National Railway Co		2,824

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	867,170		Canadian Natural Resources Ltd (Canada)	$	28,332
	183,033		Canadian Pacific Railway Ltd (Toronto)		38,718
	93,598		Canadian Tire Corp Ltd		10,967
	5,662	e	Canadian Utilities Ltd		139
	6,367		CCL Industries		287
	2,000,075		Cenovus Energy, Inc (Toronto)		20,084
	10,727	*	CGI Group, Inc		692
	6,077		Choice Properties REIT		57
	11,386		CI Financial Corp		181
	841		Constellation Software, Inc		618
	23,542	e	Crescent Point Energy Corp		150
	283,009	*	Descartes Systems Group, Inc		9,599
	918,090		Dollarama, Inc		28,922
	2,384		Emera, Inc		74
	7,643		Empire Co Ltd		139
	72,860		Enbridge, Inc (Toronto)		2,351
	40,947		EnCana Corp		537
	399,952		Entertainment One Ltd		2,154
	22,896		Fairfax Financial Holdings Ltd		12,439
	7,283		Finning International, Inc		178
	11,083		First Capital Realty, Inc		167
	18,165		Fortis, Inc		589
	7,881		Franco-Nevada Corp		493
	2,252		George Weston Ltd		170
	8,932		Gildan Activewear, Inc		272
	109,782		Goldcorp, Inc		1,119
	13,042		Great-West Lifeco, Inc		316
	22,915		H&R Real Estate Investment Trust		352
	15,385		Husky Energy, Inc		270
	13,744	g	Hydro One Ltd		209
	3,263	e	IGM Financial, Inc		90
	12,239		Imperial Oil Ltd		396
	4,452		Industrial Alliance Insurance and Financial Services, Inc		178
	61,730		Intact Financial Corp		5,133
	16,037		Inter Pipeline Ltd		278
	8,324		Keyera Corp		223
	167,924	*	Kinaxis, Inc		12,628
	53,746	*	Kinross Gold Corp		146
	2,100		Linamar Corp		97
	8,328		Loblaw Cos Ltd		428
	14,552		Magna International, Inc		764
	474,795		Manulife Financial Corp (Toronto)		8,488
	1,349,982	*,e	MEG Energy Corp		8,393
	162,061		Methanex Corp		12,793
	10,198		Metro, Inc		317
	14,724		National Bank of Canada		735
	122,355	e	Nutrien Ltd (Toronto)		7,065
	3,777		Onex Corp		258
	10,979		Open Text Corp		418
	21,666		Pembina Pipeline Income Fund		736
	657,522		Power Corp Of Canada		14,284
	32,058		Power Financial Corp		734
	9,272	e	PrairieSky Royalty Ltd		163

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	220,617		Recipe Unlimited Corp	$	4,969
	192,935		Restaurant Brands International, Inc		11,437
	10,055	e	Restaurant Brands International, Inc (Toronto)		595
	53,127		RioCan Real Estate Investment Trust		1,015
	77,442		Rogers Communications, Inc (Class B)		3,983
	360,372		Royal Bank of Canada		28,888
	9,713		Saputo, Inc		289
	10,344	*	Seven Generations Energy Ltd		123
	19,200		Shaw Communications, Inc (B Shares)		374
	116,384	*	Shopify, Inc (Class A) (Toronto)		19,129
	14,619		Smart Real Estate Investment Trust		345
	7,480		SNC-Lavalin Group, Inc		305
	365,626	*,g	Spin Master Corp		14,499
	61,873		Sun Life Financial, Inc		2,460
	1,441,814		Suncor Energy, Inc		55,791
	22,487		Teck Cominco Ltd		542
	8,613		TELUS Corp		317
	12,152		Thomson Corp (Toronto)		554
	732,426		Toronto-Dominion Bank		44,507
	10,168		Tourmaline Oil Corp		179
	266,739	e	TransCanada Corp		10,792
	5,676	e	Vermilion Energy, Inc		187
	156,430	e	West Fraser Timber Co Ltd		8,903
	19,176		Wheaton Precious Metals Corp		336
	4,444	e	WSP Global, Inc		243
			TOTAL CANADA		524,749
CHILE - 0.1%
	257,873		AES Gener S.A.		74
	176,805		Aguas Andinas S.A.		98
	310,655		Antofagasta plc		3,452
	4,226,277		Banco de Chile		644
	2,775		Banco de Credito e Inversiones		188
	11,087,998		Banco Santander Chile S.A.		887
	253,825		Centros Comerciales Sudamericanos S.A.		603
	10,123		Cia Cervecerias Unidas S.A.		141
	530,974		Colbun S.A.		115
	8,216,933		Corpbanca S.A.		85
	18,546		Embotelladora Andina S.A.		72
	8,765		Empresa Nacional de Telecomunicaciones S.A.		74
	212,003		Empresas CMPC S.A.		856
	83,324		Empresas COPEC S.A.		1,287
	1,996,764		Enersis Chile S.A.		201
	5,225,830		Enersis S.A.		805
	19,413		Lan Airlines S.A.		185
	28,086		Lundin Mining Corp		149
	132,462		SACI Falabella		1,078
	18,898		Sociedad Quimica y Minera de Chile S.A. (Class B)		867
			TOTAL CHILE		11,861
CHINA - 3.3%
	92,500	g	3SBio, Inc		155
	1,900	*	51job, Inc (ADR)		146

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	16,300	*	58.COM, Inc (ADR)	$	1,200
	130,000		AAC Technologies Holdings, Inc		1,342
	116,000		Agile Property Holdings Ltd		164
	5,030,000		Agricultural Bank of China		2,467
	85,000		Agricultural Bank of China Ltd		48
	134,000		Air China Ltd		129
	14,000		Air China Ltd		17
	5,900		Aisino Corp		24
	736,046	*	Alibaba Group Holding Ltd (ADR)		121,271
	250,000	*	Alibaba Health Information Technology Ltd		244
	308,000	*,e	Aluminum Corp of China Ltd		137
	92,000		Angang New Steel Co Ltd		82
	9,100		Angang Steel Co Ltd		8
	2,310,500		Anhui Conch Cement Co Ltd		13,874
	9,800		Anhui Conch Cement Co Ltd (Class A)		52
	79,000		Anta Sports Products Ltd		377
	19,600		Anxin Trust Co Ltd		15
	9,400		Autohome, Inc (ADR)		728
	10,600		AVIC Aircraft Co Ltd		24
	166,000		AviChina Industry & Technology Co		109
	133,000	g	BAIC Motor Corp Ltd		107
	69,770	*	Baidu, Inc (ADR)		15,955
	31,400		Bank of Beijing Co Ltd		28
	57,800		Bank of China Ltd		31
	20,586,000		Bank of China Ltd (Hong Kong)		9,096
	50,100		Bank of Communications Co Ltd		43
	1,660,000		Bank of Communications Co Ltd (Hong Kong)		1,243
	33,000		Bank of Jiangsu Co Ltd		31
	22,700		Bank of Nanjing Co Ltd		25
	12,900		Bank of Ningbo Co Ltd		33
	13,140		Bank of Shanghai Co Ltd		23
	25,800		Baoshan Iron & Steel Co Ltd		29
	2,694	*,e	Baozun, Inc (ADR)		131
	36,800		BBMG Corp		20
	188,000		BBMG Corp		64
	126,000		Beijing Capital International Airport Co Ltd		153
	39,500		Beijing Enterprises Holdings Ltd		221
	426,000		Beijing Enterprises Water Group Ltd		227
	4,500		Beijing Tongrentang Co Ltd		21
	77,800		BOE Technology Group Co Ltd		36
	538,000		Brilliance China Automotive Holdings Ltd		868
	46,500	e	Byd Co Ltd		331
	2,700		BYD Co Ltd		19
	49,500		BYD Electronic International Co Ltd		73
	67,000	*	CAR, Inc		53
	866,000	g	CGN Power Co Ltd		206
	183,000		China Agri-Industries Holdings Ltd		71
	9,579,000	*,†,e,m	China Animal Healthcare Ltd		12
	700,000		China Cinda Asset Management Co Ltd		177
	1,685,000		China Citic Bank		1,076
	272,000		China Coal Energy Co		115
	854,000		China Communications Construction Co Ltd (Hong Kong)		871

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	180,000		China Communications Services Corp Ltd	$	166
	301,500		China Conch Venture Holdings Ltd		1,053
	15,833,000		China Construction Bank		13,840
	26,300		China Construction Bank Corp		28
	203,500	*	China COSCO Holdings Co Ltd		84
	28,200		China Eastern Airlines Corp Ltd		23
	104,000	e	China Eastern Airlines Corp Ltd (H Shares)		66
	56,700		China Everbright Bank Co Ltd		32
	236,000		China Everbright Bank Co Ltd (Hong Kong)		105
	10,318,392		China Everbright International Ltd		8,909
	76,000		China Everbright Ltd		136
	536,000	*,e	China Evergrande Group		1,496
	8,341		China Fortune Land Development Co Ltd		31
	279,500		China Galaxy Securities Co Ltd		130
	7,400		China Gezhouba Group Co Ltd		8
	6,843		China Grand Automotive Services Co Ltd		6
	751,000	g	China Huarong Asset Management Co Ltd		138
	290,800		China Insurance International Holdings Co Ltd		1,019
	80,000	g	China International Capital Corp Ltd		147
	47,200		China International Marine Containers Group Co Ltd (Hong Kong)		50
	2,800		China International Travel Service Corp Ltd		28
	1,357,000		China Life Insurance Co Ltd		3,084
	13,400	*,e,g	China Literature Ltd		84
	245,000		China Longyuan Power Group Corp		206
	103,000		China Medical System Holdings Ltd		143
	490,000		China Mengniu Dairy Co Ltd		1,629
	282,500		China Merchants Bank Co Ltd		1,142
	22,300		China Merchants Bank Co Ltd (Class A)		100
	102,000		China Merchants Holdings International Co Ltd		195
	10,600		China Merchants Securities Co Ltd		20
	6,100		China Merchants Shekou Industrial Zone Holdings Co Ltd		17
	57,800		China Minsheng Banking Corp Ltd		53
	1,253,400		China Minsheng Banking Corp Ltd (Hong Kong)		929
	1,103,500		China Mobile Hong Kong Ltd		10,849
	291,000	e	China Molybdenum Co Ltd		122
	12,204,000		China National Building Material Co Ltd		10,823
	24,300		China National Nuclear Power Co Ltd		21
	154,000		China Oilfield Services Ltd		167
	6,731,929		China Overseas Land & Investment Ltd		21,077
	7,500		China Pacific Insurance Group Co Ltd		39
	484,600		China Pacific Insurance Group Co Ltd (Hong Kong)		1,862
	398,000		China Power International Development Ltd		88
	152,500		China Railway Construction Corp		206
	26,813		China Railway Construction Corp Ltd		44
	292,000		China Railway Group Ltd		289
	129,000	e,g	China Railway Signal & Communication Corp Ltd		91
	550,000		China Reinsurance Group Corp		109
	280,000		China Resources Beer Holdings Company Ltd		1,123
	68,000		China Resources Gas Group Ltd		277
	1,149,836		China Resources Land Ltd		4,029
	119,500	g	China Resources Pharmaceutical Group Ltd		190

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	152,000		China Resources Power Holdings Co	$	268
	17,700		China Shenhua Energy Co Ltd		52
	672,000		China Shenhua Energy Co Ltd (Hong Kong)		1,530
	350,000	*,e	China Shipping Container Lines Co Ltd		47
	120,000		China Shipping Development Co Ltd		60
	134,000		China Southern Airlines Co Ltd		85
	5,400		China Southern Airlines Co Ltd		5
	47,520		China State Construction Engineering Corp Ltd		38
	152,000	e	China State Construction International Holdings Ltd		161
	2,682,000		China Telecom Corp Ltd		1,333
	2,448,000	*,g	China Tower Corp Ltd		357
	190,000		China Travel International Inv HK		61
	1,128,000		China Unicom Ltd		1,318
	38,500		China United Network Communications Ltd		31
	2,362,900		China Vanke Co Ltd		7,790
	10,200		China Vanke Co Ltd (Class A)		36
	21,100		China Yangtze Power Co Ltd		50
	151,600	e	China Zhongwang Holdings Ltd		74
	1,320,000	*,e	Chong Sing Holdings FinTech Gr		71
	65,900		Chongqing Changan Automobile Co Ltd		53
	200,000		Chongqing Rural Commercial Bank		109
	254,000		CIFI Holdings Group Co Ltd		116
	1,062,000		Citic Pacific Ltd		1,582
	173,000		CITIC Securities Co Ltd		307
	21,200		CITIC Securities Co Ltd (Class A)		51
	9,881,000		CNOOC Ltd		19,566
	130,000		COSCO Pacific Ltd		143
	5,665,000		Country Garden Holdings Co Ltd		7,139
	74,379	*	Country Garden Services Holdings Co Ltd		126
	324,000		CRRC Corp Ltd		295
	25,000		CRRC Corp Ltd (Class A)		31
	830,000		CSPC Pharmaceutical Group Ltd		1,756
	71,600	*	Ctrip.com International Ltd (ADR)		2,661
	162,500	e,g	Dali Foods Group Co Ltd		117
	25,000		Daqin Railway Co Ltd		30
	278,000		Datang International Power Generation Co Ltd		70
	204,000		Dongfeng Motor Group Co Ltd		210
	135,600		ENN Energy Holdings Ltd		1,179
	15,200	*	Fang Holdings Ltd (ADR)		39
	8,100		Fangda Carbon New Material Co Ltd		26
	166,000		Far East Horizon Ltd		158
	32,600		Focus Media Information Technology Co Ltd		40
	4,900		Foshan Haitian Flavouring & Food Co Ltd		56
	189,500		Fosun International		334
	378,000		Franshion Properties China Ltd		172
	130,000		Future Land Development Holdin		84
	38,800	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		141
	17,300	*,e	GDS Holdings Ltd (ADR)		608
	880,000		Geely Automobile Holdings Ltd		1,753
	13,100		Gemdale Corp		17
	56,000	*,e	Genscript Biotech Corp		94
	120,000		GF Securities Co Ltd		153
	8,500		GF Securities Co Ltd (Class A)		17

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	864,000	*,e	GOME Electrical Appliances Holdings Ltd	$	88
	231,500	e	Great Wall Motor Co Ltd		147
	4,000	*	Gree Electric Appliances, Inc of Zhuhai		23
	27,200		Greenland Holdings Corp Ltd		25
	65,000		Greentown China Holdings Ltd		61
	82,000		Greentown Service Group Co Ltd		66
	224,000		Guangdong Investments Ltd		397
	214,000		Guangzhou Automobile Group Co Ltd		236
	3,800		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		20
	4,802,600		Guangzhou R&F Properties Co Ltd		8,811
	8,300		Guotai Junan Securities Co Ltd		18
	52,600	e,g	Guotai Junan Securities Co Ltd (Hong Kong)		108
	50,000		Haitian International Holdings Ltd		111
	247,600		Haitong Securities Co Ltd		225
	25,100		Haitong Securities Co Ltd (Class A)		33
	11,100		Hangzhou Hikvision Digital Technology Co Ltd		46
	3,600		Han’s Laser Technology Industry Group Co Ltd		22
	6,800		Henan Shuanghui Investment & Development Co Ltd		26
	133,500		Hengan International Group Co Ltd		1,227
	1,624,000	*	HengTen Networks Group Ltd		61
	16,900		Hesteel Co Ltd		8
	31,000	g	Hua Hong Semiconductor Ltd		66
	158,000		Huadian Power International Co		62
	4,500		Huadong Medicine Co Ltd		27
	332,000		Huaneng Power International, Inc (Hong Kong)		218
	386,000		Huaneng Renewables Corp Ltd		115
	128,200	*,g	Huatai Securities Co Ltd		183
	10,200	*	Huatai Securities Co Ltd (Class A)		23
	21,900		Huaxia Bank Co Ltd		26
	9,600		Huazhu Group Ltd (ADR)		310
	2,600		Hundsun Technologies, Inc		21
	3,400		Iflytek Co Ltd		14
	12,883,000		Industrial & Commercial Bank of China		9,406
	58,800		Industrial & Commercial Bank of China Ltd		49
	24,400		Industrial Bank Co Ltd		57
	89,300		Inner Mongolia BaoTou Steel Union Co Ltd		22
	8,600		Inner Mongolia Yili Industrial Group Co Ltd		32
	124,900		Inner Mongolia Yitai Coal Co		150
	121,800	*	JD.com, Inc (ADR)		3,178
	104,000		Jiangsu Express		133
	4,900		Jiangsu Hengrui Medicine Co Ltd		45
	1,900		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		35
	108,000		Jiangxi Copper Co Ltd		126
	11,258		Jiangxi Copper Co Ltd (Class A)		24
	3,700		Jiangxi Ganfeng Lithium Co Ltd		18
	74,070		Jiayuan International Group Ltd		127
	153,000		Kaisa Group Holdings Ltd		49
	15,000		Kangmei Pharmaceutical Co Ltd		48
	10,010,000	e	Kingdee International Software Group Co Ltd		10,865
	62,000		Kingsoft Corp Ltd		118
	1,400		Kweichow Moutai Co Ltd		149
	93,064		KWG Property Holding Ltd		85

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	28,300	g	Legend Holdings Corp	$	87
	526,000		Lenovo Group Ltd		383
	102,000		Logan Property Holdings Co Ltd		115
	108,000		Longfor Properties Co Ltd		278
	11,570		Luxshare Precision Industry Co Ltd		26
	8,626,000	e,g	Luye Pharma Group Ltd		7,723
	4,600		Luzhou Laojiao Co Ltd		32
	9,712		Maanshan Iron & Steel Co Ltd		6
	8,300		Meinian Onehealth Healthcare Holdings Co Ltd		21
	123,500	*,g	Meitu, Inc		86
	35,900		Metallurgical Corp of China Ltd		19
	277,000		Metallurgical Corp of China Ltd (Hong Kong)		78
	15,200	m	Midea Group Co Ltd		89
	32,000	e	Minth Group Ltd		132
	200,600	*	Momo, Inc (ADR)		8,786
	16,300		NARI Technology Co Ltd		42
	13,600		Netease.com (ADR)		3,104
	5,200		New China Life Insurance Co Ltd		38
	60,800		New China Life insurance Co Ltd (Hong Kong)		291
	24,500		New Oriental Education & Technology Group (ADR)		1,813
	2,100	*,e	Noah Holdings Ltd (ADR)		89
	24,000		Offshore Oil Engineering Co Ltd		24
	9,400		O-film Tech Co Ltd		18
	569,000		People’s Insurance Co Group of China Ltd		255
	1,258,000		PICC Property & Casualty Co Ltd		1,481
	114,772	*,e	Pinduoduo, Inc (ADR)		3,017
	21,700		Ping An Bank Co Ltd		35
	8,102,500		Ping An Insurance Group Co of China Ltd		82,080
	11,800		Ping An Insurance Group Co of China Ltd (Class A)		117
	13,100		Poly Real Estate Group Co Ltd		23
	240,000	g	Postal Savings Bank of China Co Ltd		151
	20,200		Power Construction Corp of China Ltd		16
	8,200		Qingdao Haier Co Ltd		20
	13,600		SAIC Motor Corp Ltd		66
	14,700		Sanan Optoelectronics Co Ltd		35
	27,600		Sany Heavy Industry Co Ltd		36
	213,500	*	Semiconductor Manufacturing International Corp		230
	32,100		Shaanxi Coal Industry Co Ltd		41
	7,800		Shandong Gold Mining Co Ltd		27
	156,000		Shandong Weigao Group Medical Polymer Co Ltd		154
	256,000	e	Shanghai Electric Group Co Ltd (Hong Kong)		91
	5,700		Shanghai Fosun Pharmaceutical Group Co Ltd		26
	41,500		Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		163
	41,000		Shanghai Industrial Holdings Ltd		91
	4,200		Shanghai International Airport Co Ltd		36
	224,991		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		309
	8,200		Shanghai Pharmaceuticals Holding Co Ltd		24
	70,200		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		176
	31,700		Shanghai Pudong Development Bank Co Ltd		49
	18,700		Shanxi Lu’an Environmental Energy Development Co Ltd		22

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	25,200		Shanxi Xishan Coal & Electricity Power Co Ltd	$	24
	74,500		Shenzhen International Holdings Ltd		154
	282,000		Shenzhen Investment Ltd		90
	8,100		Shenzhen Overseas Chinese Town Co Ltd		7
	135,000		Shenzhou International Group Holdings Ltd		1,732
	86,000		Shimao Property Holdings Ltd		214
	289,500		Shui On Land Ltd		67
	293,000		Sihuan Pharmaceutical Holdings		60
	10,640	*	Sina Corp		739
	229,500		Sino-Ocean Land Holdings Ltd		101
	107,500		Sinopec Engineering Group Co Ltd		123
	15,426,000		Sinopec Shanghai Petrochemical Co Ltd		9,408
	223,200		Sinopharm Group Co		1,092
	175,000		Sinotrans Ltd		71
	51,500	e	Sinotruk Hong Kong Ltd		112
	168,500		Soho China Ltd		66
	424,000		Sunac China Holdings Ltd		1,299
	14,200		Suning.com Co Ltd		28
	959,600		Sunny Optical Technology Group Co Ltd		11,079
	59,200	*	TAL Education Group (ADR)		1,522
	19,000		TBEA Co Ltd		20
	3,661,700		Tencent Holdings Ltd		149,510
	4,200		Tianqi Lithium Corp		23
	148,000		Tingyi Cayman Islands Holding Corp		272
	48,000		Tong Ren Tang Technologies Co Ltd		70
	72,000		Travelsky Technology Ltd		187
	28,000		Tsingtao Brewery Co Ltd		131
	104,000	e	Uni-President China Holdings Ltd		111
	72,500	*	Vipshop Holdings Ltd (ADR)		452
	368,000	e	Want Want China Holdings Ltd		310
	140,900	*,e	Weibo Corp (ADR)		10,304
	145,000		Weichai Power Co Ltd		180
	18,300		Weichai Power Co Ltd (Class A)		23
	20,600		Western Securities Co Ltd		24
	172,000		Winteam Pharmaceutical Group Ltd		117
	4,700		Wuliangye Yibin Co Ltd		46
	35,500	*,g	Wuxi Biologics Cayman, Inc		359
	51,000		Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		55
	238,862	e	Xinyi Solar Holdings Ltd		74
	2,460,000	*,e,g	Yangtze Optical Fibre and Cable Joint Stock Ltd		7,621
	95,049		Yangzijiang Shipbuilding		86
	154,000		Yanzhou Coal Mining Co Ltd		178
	16,900		Yonghui Superstores Co Ltd		20
	5,200		Yonyou Network Technology Co Ltd		21
	47,856,000		Yuexiul Property Co Ltd		8,541
	1,221,491		Yum China Holdings, Inc		42,887
	3,200	m	Yunnan Baiyao Group Co Ltd		33
	132,000		Yuzhou Properties Co		54
	8,100	*	YY, Inc (ADR)		607
	1,900		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		28
	128,000	e	Zhaojin Mining Industry Co Ltd		99
	8,700		Zhejiang Dahua Technology Co Ltd		19

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	124,000		Zhejiang Expressway Co Ltd	$	103
	15,500		Zhejiang Longsheng Group Co Ltd		22
	12,300	*,e,g	ZhongAn Online P&C Insurance Co Ltd		50
	46,900		Zhongjin Gold Corp Ltd		46
	44,000		Zhongsheng Group Holdings Ltd		107
	41,200		Zhuzhou CSR Times Electric Co Ltd		235
	474,000		Zijin Mining Group Co Ltd		182
	53,700		Zijin Mining Group Co Ltd (Class A)		28
	7,200	*	ZTE Corp		19
	56,000	*	ZTE Corp		102
			TOTAL CHINA		714,040
COLOMBIA - 0.0%
	15,549		BanColombia S.A.		167
	31,783		BanColombia S.A. (Preference)		336
	26,846		Cementos Argos S.A.		70
	407,478		Ecopetrol S.A.		554
	18,216		Grupo Argos S.A.		100
	250,981		Grupo Aval Acciones y Valores		99
	16,172		Grupo de Inversiones Suramericana S.A.		190
	7,897		Grupo de Inversiones Suramericana S.A. (Preference)		91
	31,489		Interconexion Electrica S.A.		142
			TOTAL COLOMBIA		1,749
CZECH REPUBLIC - 0.0%
	12,191		CEZ AS		312
	5,271		Komercni Banka AS		216
	1,346,597	g	Moneta Money Bank AS		4,955
	3,636		Telefonica O2 Czech Republic AS		42
			TOTAL CZECH REPUBLIC		5,525
DENMARK - 0.8%
	165		AP Moller - Maersk AS (Class A)		216
	274		AP Moller - Maersk AS (Class B)		385
	4,503		Carlsberg AS (Class B)		540
	4,238		Christian Hansen Holding		430
	28,389		Coloplast AS		2,900
	30,979		Danske Bank AS		812
	160,860		Dfds A.S.		7,956
	255,994		DSV AS		23,262
	7,197	*	Genmab AS		1,130
	209,692		GN Store Nord		10,207
	2,979		H Lundbeck AS		184
	6,927		ISS A.S.		243
	1,777,097		Novo Nordisk AS		83,639
	9,587		Novozymes AS		526
	475,952	g	Orsted AS		32,342
	4,656	e	Pandora AS		291
	340,643		Sydbank AS		10,015
	4,937		Tryg A.S.		123
	8,522		Vestas Wind Systems AS		576
	4,789	*	William Demant Holding A.S.		180
			TOTAL DENMARK		175,957

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
EGYPT - 0.0%
	71,682		Commercial International Bank	$	332
	59,925		Eastern Tobacco		63
	49,980		ElSwedy Cables Holding Co		50
			TOTAL EGYPT		445
FINLAND - 0.5%
	198,396		Amer Sports Oyj (A Shares)		8,107
	46,387	e	Citycon Oyj		97
	5,970		Elisa Oyj (Series A)		253
	232,421		Fortum Oyj		5,825
	14,551		Kone Oyj (Class B)		777
	4,898		Metso Oyj		173
	5,474		Neste Oil Oyj		451
	959,949		Nokia Oyj (Turquoise)		5,337
	67,408		Nokian Renkaat Oyj		2,759
	4,223		Orion Oyj (Class B)		160
	1,248,000		Outokumpu Oyj		7,319
	718,814		Sampo Oyj (A Shares)		37,198
	607,445		Stora Enso Oyj (R Shares)		11,600
	17,395		Technopolis plc		94
	410,065		UPM-Kymmene Oyj		16,082
	567,740		Valmet Corp		12,646
	18,679	e	Wartsila Oyj (B Shares)		364
			TOTAL FINLAND		109,242
FRANCE - 3.4%
	251,787		Accor S.A.		12,935
	1,292		Aeroports de Paris		291
	18,261		Air Liquide		2,398
	595,213		Airbus SE		74,725
	6,800		Alstom RGPT		304
	2,587	g	Amundi S.A.		194
	357,684		Arkema		44,327
	4,047		Atos Origin S.A.		482
	83,002		AXA S.A.		2,224
	1,774	e	BioMerieux		148
	209,252		BNP Paribas		12,814
	38,026		Bollore		164
	9,324		Bouygues S.A.		403
	11,540		Bureau Veritas S.A.		298
	86,743		Cap Gemini S.A.		10,921
	25,259		Carrefour S.A.		484
	2,463	e	Casino Guichard Perrachon S.A.		104
	7,147		CNP Assurances		172
	21,461		Compagnie de Saint-Gobain		925
	1,055,370		Credit Agricole S.A.		15,171
	539,426		Danone		41,922
	104		Dassault Aviation S.A.		192
	303,886		Dassault Systemes S.A.		45,473
	9,913		Edenred		378
	3,140		Eiffage S.A.		351

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	73,520		Electricite de France	$	1,293
	27,415		Essilor International S.A.		4,058
	1,991		Eurazeo		157
	7,660		Eutelsat Communications		181
	220,850		Faurecia		13,282
	3,831		Fonciere Des Regions		400
	235,601		Gaz de France		3,469
	4,924		Gecina S.A.		822
	19,598		Groupe Eurotunnel S.A.		250
	1,346		Hermes International		892
	6,104		Icade		564
	1,082	e	Iliad S.A.		141
	1,553		Imerys S.A.		115
	2,557		Ingenico		194
	13,207		Ipsen		2,223
	3,112		JC Decaux S.A.		114
	77,686		Kering		41,667
	32,175		Klepierre		1,143
	11,353		Legrand S.A.		828
	164,718		L’Oreal S.A.		39,711
	53,098		LVMH Moet Hennessy Louis Vuitton S.A.		18,763
	7,303		Michelin (C.G.D.E.) (Class B)		872
	38,134		Natixis		259
	244,093		Orange S. A.		3,884
	9,063		Pernod-Ricard S.A.		1,486
	409,158		Peugeot S.A.		11,037
	8,737		Publicis Groupe S.A.		522
	10,970		Remy Cointreau S.A.		1,431
	224,679		Renault S.A.		19,435
	13,306		Rexel S.A.		200
	125,208		Safran S.A.		17,532
	977,147		Sanofi-Aventis		87,305
	638,388		Schneider Electric S.A.		51,261
	7,259		SCOR SE		336
	967		SEB S.A.		164
	1,154		Societe BIC S.A.		106
	32,826		Societe Generale		1,410
	3,887		Sodexho Alliance S.A.		412
	48,598		Suez Environnement S.A.		691
	290,595		Teleperformance		54,822
	4,503		Thales S.A.		640
	606,019		Total S.A.		39,404
	105,601	*	Ubisoft Entertainment		11,403
	19,573		Unibail-Rodamco-Westfield		3,943
	10,300		Valeo S.A.		446
	66,272		Veolia Environnement		1,322
	229,744		Vinci S.A.		21,858
	44,194		Vivendi Universal S.A.		1,137
	1,220		Wendel		182
			TOTAL FRANCE		731,567
GERMANY - 2.1%
	46,116		Adidas-Salomon AG.		11,278

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	2,319	g	ADO Properties S.A.	$	139
	170,706		Allianz AG.		37,993
	197,306		Alstria Office REIT-AG.		2,926
	1,951		Axel Springer AG.		131
	86,721		BASF SE		7,695
	126,271		Bayer AG.		11,200
	14,220		Bayerische Motoren Werke AG.		1,281
	2,287		Bayerische Motoren Werke AG. (Preference)		179
	158,549		Beiersdorf AG.		17,872
	1,194,461		Borussia Dortmund GmbH & Co KGaA		10,630
	6,727		Brenntag AG.		415
	44,447	*	Commerzbank AG.		462
	15,258		Continental AG.		2,651
	159,625	g	Covestro AG.		12,921
	188,766		Daimler AG. (Registered)		11,896
	3,951	*,g	Delivery Hero AG.		190
	61,544		Deutsche Annington Immobilien SE		3,010
	86,201		Deutsche Bank AG. (Registered)		982
	8,194		Deutsche Boerse AG.		1,096
	4,058		Deutsche Euroshop AG.		131
	10,095		Deutsche Lufthansa AG.		248
	136,679		Deutsche Post AG.		4,860
	929,882		Deutsche Telekom AG.		14,970
	46,185		Deutsche Wohnen AG.		2,218
	115,628		Drillisch AG.		5,621
	1,709,607		E.ON AG.		17,396
	7,111		Evonik Industries AG.		254
	1,734		Fraport AG. Frankfurt Airport Services Worldwide		153
	133,663		Fresenius Medical Care AG.		13,733
	49,179		Fresenius SE		3,606
	2,865		Fuchs Petrolub AG. (Preference)		160
	7,612		GEA Group AG.		271
	9,277		Grand City Properties S.A.		241
	2,649		Hannover Rueckversicherung AG.		374
	6,257		HeidelbergCement AG.		489
	4,413		Henkel KGaA		468
	7,618		Henkel KGaA (Preference)		893
	888		Hochtief AG.		147
	2,792		Hugo Boss AG.		215
	48,338		Infineon Technologies AG.		1,100
	5,694	*	Innogy SE		242
	7,565		K&S AG.		159
	3,032		KION Group AG.		186
	3,857		Lanxess AG.		282
	5,798		LEG Immobilien AG.		689
	455,274		Linde AG. (Tender)		107,516
	1,376		MAN AG.		150
	17,901		Merck KGaA		1,850
	7,846		Metro Wholesale & Food Specialist AG.		123
	2,223		MTU Aero Engines Holding AG.		501
	6,372		Muenchener Rueckver AG.		1,407
	54,674		Osram Licht AG.		2,171
	464,504	*	Paion AG.		1,300

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	6,544		Porsche AG.	$	441
	9,919		ProSiebenSat. Media AG.		257
	302		Puma AG. Rudolf Dassler Sport		149
	171,617		RWE AG.		4,237
	210,026		SAP AG.		25,826
	1,525		Sartorius AG.		247
	7,455		Schaeffler AG.		95
	323,034	g	Scout24 AG.		15,046
	163,321		Siemens AG.		20,883
	55,461	*,g	Siemens Healthineers AG.		2,439
	5,377		Symrise AG.		490
	11,596		TAG Tegernsee Immobilien und Beteiligungs AG.		276
	30,253		Telefonica Deutschland Holding AG.		128
	1,523,910		ThyssenKrupp AG.		38,443
	5,798		TLG Immobilien AG.		151
	18,817		TUI AG. (DI)		361
	8,612		Uniper SE		265
	5,363		United Internet AG.		254
	1,561		Volkswagen AG.		271
	7,755		Volkswagen AG. (Preference)		1,362
	128,718		Wirecard AG.		27,848
	4,763	*,g	Zalando SE		185
			TOTAL GERMANY		458,725
GREECE - 0.0%
	94,373	*	Alpha Bank AE		136
	125,344	*	Eurobank Ergasias S.A.		95
	5,760	*,†,m	Hellenic Duty Free Shops S.A.		8
	17,402		Hellenic Telecommunications Organization S.A.		213
	7,350		JUMBO S.A.		109
	6,053		Motor Oil Hellas Corinth Refineries S.A.		158
	35,142	*	National Bank of Greece S.A.		71
	15,340		OPAP S.A.		161
	17,981	*	Piraeus Bank S.A.		39
	2,758		Titan Cement Co S.A.		69
			TOTAL GREECE		1,059
HONG KONG - 0.8%
	4,928,758		AIA Group Ltd		43,949
	1,040,000	*,e	Alibaba Pictures Group Ltd		142
	11,918		ASM Pacific Technology		122
	172,923		Bank of East Asia Ltd		644
	160,353		BOC Hong Kong Holdings Ltd		761
	99,000		Cathay Pacific Airways Ltd		149
	228,000	*	China First Capital Group Ltd		122
	317,200		China Gas Holdings Ltd		898
	182,000		China Resources Cement Holdings Ltd		212
	113,125		CK Asset Holdings Ltd		848
	117,043		CK Hutchison Holdings Ltd		1,347
	60,953		CK Infrastructure Holdings Ltd		482
	220,454		CLP Holdings Ltd		2,582
	14,700		Dairy Farm International Holdings Ltd		132
	502,500	e	Fullshare Holdings Ltd		241

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	102,803		Galaxy Entertainment Group Ltd	$	649
	947,000	*,e	GCL Poly Energy Holdings Ltd		67
	95,000		Haier Electronics Group Co Ltd		257
	39,000		Hang Lung Group Ltd		104
	396,576		Hang Lung Properties Ltd		774
	97,172		Hang Seng Bank Ltd		2,637
	196,257		Henderson Land Development Co Ltd		986
	121,500	e	HK Electric Investments & HK Electric Investments Ltd		123
	154,660		HKT Trust and HKT Ltd		213
	1,183,528		Hong Kong & China Gas Ltd		2,346
	169,488		Hong Kong Electric Holdings Ltd		1,178
	81,707		Hong Kong Exchanges and Clearing Ltd		2,335
	249,485		Hongkong Land Holdings Ltd		1,652
	4,760		Hopewell Highway Infrastructure Ltd		3
	84,760		Hysan Development Co Ltd		428
	9,400		Jardine Matheson Holdings Ltd		590
	9,600		Jardine Strategic Holdings Ltd		348
	108,526		Kerry Properties Ltd		369
	51,000		Kingboard Chemical Holdings Ltd		166
	82,000		Kingboard Laminates Holdings Ltd		73
	121,000		Lee & Man Paper Manufacturing Ltd		112
	263,027		Li & Fung Ltd		59
	182,026		Link REIT		1,792
	3,971,871		Melco Crown Entertainment Ltd (ADR)		84,005
	64,678	e	MTR Corp		340
	820,492		New World Development Co Ltd		1,114
	121,000		Nine Dragons Paper Holdings Ltd		130
	57,638		NWS Holdings Ltd		114
	187,262		PCCW Ltd		109
	3,825,992		Shangri-La Asia Ltd		5,663
	1,216,000		Sino Biopharmaceutical		1,131
	144,365		Sino Land Co		247
	88,611		SJM Holdings Ltd		82
	146,000		Skyworth Digital Holdings Ltd		41
	114,000		SSY Group Ltd		110
	178,000		Sun Art Retail Group Ltd		231
	184,468		Sun Hung Kai Properties Ltd		2,677
	22,628		Swire Pacific Ltd (Class A)		248
	413,216		Swire Properties Ltd		1,565
	58,402		Techtronic Industries Co		373
	90,000		Towngas China Co Ltd		79
	380,500	g	WH Group Ltd		267
	154,053		Wharf Holdings Ltd		419
	558,053		Wharf Real Estate Investment Co Ltd		3,595
	35,334		Wheelock & Co Ltd		212
	31,912		Yue Yuen Industrial Holdings		89
			TOTAL HONG KONG		172,733
HUNGARY - 0.1%
	1,093,044		MOL Hungarian Oil & Gas plc		11,773
	15,056		OTP Bank		558
	8,815		Richter Gedeon Rt		165
			TOTAL HUNGARY		12,496

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
INDIA - 0.9%
	41,466		Ambuja Cements Ltd	$	128
	82,316		Ashok Leyland Ltd		135
	20,883		Asian Paints Ltd		373
	18,452		Aurobindo Pharma Ltd		190
	9,052	*,g	Avenue Supermarts Ltd		174
	126,973	*	Axis Bank Ltd		1,075
	12,402		Bajaj Finance Ltd		371
	2,708		Bajaj Finserv Ltd		225
	5,800		Bajaj Holdings and Investment Ltd		215
	14,255		Bharat Forge Ltd		118
	56,707		Bharat Heavy Electricals		54
	59,921		Bharat Petroleum Corp Ltd		309
	98,958		Bharti Airtel Ltd		462
	23,689	*	Bharti Infratel Ltd		86
	498	*	Bosch Ltd		137
	2,133		Britannia Industries Ltd		171
	13,999		Cadila Healthcare Ltd		75
	24,574	*	Cipla Ltd		222
	61,340		Coal India Ltd		225
	345,718		Container Corp Of India Ltd		2,993
	38,340		Dabur India Ltd		226
	8,050		Dr Reddy’s Laboratories Ltd		280
	941		Eicher Motors Ltd		314
	57,089		GAIL India Ltd		299
	9,395		Glenmark Pharmaceuticals Ltd		82
	43,648		Godrej Consumer Products Ltd		463
	23,103	*	Grasim Industries Ltd		326
	17,687	*	Havells India Ltd		145
	39,640		HCL Technologies Ltd		595
	662,363		HDFC Bank Ltd		18,296
	3,414		Hero Honda Motors Ltd		138
	83,519		Hindalco Industries Ltd		265
	115,650		Hindustan Lever Ltd		2,567
	3,030,706		Hindustan Petroleum Corp Ltd		10,510
	274,415		Housing Development Finance Corp		6,642
	420,111		ICICI Bank Ltd		1,773
	381,852		ICICI Bank Ltd (ADR)		3,242
	132,471	*	Idea Cellular Ltd		71
	3,376,643		Indiabulls Housing Finance Ltd		39,933
	122,499		Indian Oil Corp Ltd		259
	620,559		Infosys Technologies Ltd		6,234
	6,135	g	InterGlobe Aviation Ltd		70
	610,547		ITC Ltd		2,508
	60,630		JSW Steel Ltd		319
	33,718		Larsen & Toubro Ltd		592
	20,125		LIC Housing Finance Ltd		116
	15,539	*	Lupin Ltd		193
	21,244	*	Mahindra & Mahindra Financial Services Ltd		117
	130,903		Mahindra & Mahindra Ltd		1,555
	32,652		Marico Ltd		150
	18,701		Maruti Suzuki India Ltd		1,896

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	43,617	*	Motherson Sumi Systems Ltd	$	155
	36,428	*	Mundra Port and Special Economic Zone Ltd		165
	1,664		Nestle India Ltd		223
	142,039		NTPC Ltd		327
	391		Page Industries Ltd		177
	55,761		Petronet LNG Ltd		173
	9,138	*	Pidilite Industries Ltd		132
	5,716		Piramal Healthcare Ltd		181
	112,331		Power Grid Corp of India Ltd		292
	202,943	*	Puravankara Projects Ltd		178
	1,845,314		Reliance Industries Ltd		32,033
	45,443		Rural Electrification Corp Ltd		61
	93,640	*	Sesa Sterlite Ltd		300
	587		Shree Cement Ltd		137
	365,076		Shriram Transport Finance Co Ltd		5,798
	4,671		Siemens India Ltd		61
	126,053	*	State Bank of India		462
	59,486	*	Sun Pharmaceutical Industries Ltd		511
	851,610	*	Tata Chemicals Ltd		8,137
	160,301		Tata Consultancy Services Ltd		4,829
	279,575	*	Tata Motors Ltd		863
	76,900		Tata Power Co Ltd		70
	24,746		Tata Steel Ltd		199
	1,004,294	*	Tech Mahindra Ltd		10,329
	22,101		Titan Industries Ltd		246
	16,404	*	Ultra Tech Cement Ltd		919
	25,234	*	United Phosphorus Ltd		231
	20,613	*	United Spirits Ltd		146
	80,210		Wipro Ltd		358
	4,501,361		Yes Bank Ltd		11,414
	33,593		ZEE Telefilms Ltd		203
			TOTAL INDIA		187,224
INDONESIA - 0.1%
	1,223,700		Adaro Energy Tbk		151
	9,854,600		Bank Rakyat Indonesia		2,082
	164,600		Indofood CBP Sukses Makmur Tbk		98
	3,566,600		PT Astra International Tbk		1,757
	1,762,900		PT Bank Central Asia Tbk		2,855
	197,900		PT Bank Danamon Indonesia Tbk		96
	14,581,112		PT Bank Mandiri Persero Tbk		6,570
	522,000		PT Bank Negara Indonesia		259
	276,100		PT Bank Tabungan Negara Tbk		49
	414,900	*	PT Bumi Serpong Damai		32
	518,800		PT Charoen Pokphand Indonesia Tbk		177
	33,900		PT Gudang Garam Tbk		168
	653,800		PT Hanjaya Mandala Sampoerna Tbk		169
	192,800		PT Indah Kiat Pulp and Paper Corp Tbk		224
	126,000		PT Indocement Tunggal Prakarsa Tbk		156
	301,200		PT Indofood Sukses Makmur Tbk		119
	136,300		PT Jasa Marga Tbk		41
	1,420,200		PT Kalbe Farma Tbk		132
	169,300		PT Matahari Department Store Tbk		79

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,013,500		PT Pakuwon Jati Tbk	$	35
	761,400		PT Perusahaan Gas Negara Persero Tbk		115
	200,000		PT Semen Gresik Persero Tbk		133
	383,500		PT Surya Citra Media Tbk		48
	8,970,100		PT Telekomunikasi Indonesia Persero Tbk		2,196
	108,900		PT Unilever Indonesia Tbk		344
	134,500		PT United Tractors Tbk		298
	299,500		PT Waskita Karya Persero Tbk		34
	126,500		Tower Bersama Infrastructure		48
			TOTAL INDONESIA		18,465
IRELAND - 0.5%
	377,276	*	AerCap Holdings NV		21,701
	319,724		AIB Group plc		1,634
	905,051		Bank of Ireland Group plc		6,921
	647,784		CRH plc		21,192
	2,302,262		Green REIT plc		4,036
	6,039,827		Hibernia REIT plc		9,958
	147,992	*,†,m	Irish Bank Resolution Corp Ltd		0
	19,644		James Hardie Industries NV		298
	58,613		Kerry Group plc (Class A)		6,482
	577,276		Keywords Studios plc		14,672
	3,556		Paddy Power plc		303
	4,593	*	Ryanair Holdings plc		70
	240	*	Ryanair Holdings plc (ADR)		23
	633,425		Smurfit Kappa Group plc		25,069
			TOTAL IRELAND		112,359
ISRAEL - 0.1%
	1,823		Azrieli Group		93
	141,792		Bank Hapoalim Ltd		1,038
	182,297		Bank Leumi Le-Israel		1,201
	89,329		Bezeq Israeli Telecommunication Corp Ltd		103
	5,477	*	Check Point Software Technologies		645
	1,009		Elbit Systems Ltd		128
	1,656		Frutarom Industries Ltd		172
	27,367		Israel Chemicals Ltd		166
	21,992		Mizrahi Tefahot Bank Ltd		385
	2,609	*	Nice Systems Ltd		297
	526,588		Teva Pharmaceutical Industries Ltd (ADR)		11,343
			TOTAL ISRAEL		15,571
ITALY - 0.7%
	7,569,859		A2A S.p.A.		13,128
	439,600		Amplifon S.p.A.		9,746
	51,417		Assicurazioni Generali S.p.A.		886
	20,579		Autostrade S.p.A.		427
	1,833,504		Banca Intesa S.p.A.		4,672
	231,935	e	Beni Stabili S.p.A.		202
	58,102		Brunello Cucinelli S.p.A		2,261
	1,033,305		Davide Campari-Milano S.p.A		8,799
	1,059,819		Enel S.p.A.		5,417
	108,772	e	ENI S.p.A.		2,050

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	85,751		Ferrari NV	$	11,779
	17,311		Finmeccanica S.p.A.		208
	3,027,943		Iride S.p.A.		7,424
	280,539		Luxottica Group S.p.A.		19,013
	557,158		Mediobanca S.p.A.		5,545
	531,682		Moncler S.p.A		22,877
	17,209	*,g	Pirelli & C S.p.A		144
	22,100	g	Poste Italiane S.p.A		176
	8,890,281		Prada S.p.A		42,478
	10,075		Prysmian S.p.A.		234
	4,476		Recordati S.p.A.		151
	97,234		Snam Rete Gas S.p.A.		404
	259,657		Telecom Italia RSP		139
	473,430	*	Telecom Italia S.p.A.		286
	59,520		Terna Rete Elettrica Nazionale S.p.A.		318
	85,699		UniCredit S.p.A.		1,286
			TOTAL ITALY		160,050
JAPAN - 7.0%
	1,210		ABC-Mart, Inc		67
	17,000	e	Acom Co Ltd		69
	121		Activia Properties Inc		524
	26,846		Aeon Co Ltd		647
	4,852		AEON Financial Service Co Ltd		100
	4,497		Aeon Mall Co Ltd		77
	19,872		Air Water, Inc		365
	414,790		Aisin Seiki Co Ltd		20,208
	19,568		Ajinomoto Co, Inc		336
	29,105		Alfresa Holdings Corp		780
	9,150	e	All Nippon Airways Co Ltd		320
	8,132		Alps Electric Co Ltd		207
	14,844		Amada Co Ltd		158
	5,184		Aozora Bank Ltd		185
	15,751		Asahi Breweries Ltd		683
	288,701		Asahi Glass Co Ltd		11,982
	165,325		Asahi Kasei Corp		2,507
	35,400		Ashikaga Holdings Co Ltd		122
	7,000		Asics Corp		104
	381,900		Astellas Pharma, Inc		6,669
	62,421		Bank of Kyoto Ltd		3,258
	3,053		Benesse Holdings Inc		87
	205		BLife Investment Corp		469
	26,530		Bridgestone Corp		1,003
	10,085		Brother Industries Ltd		199
	3,400		Calbee, Inc		112
	42,777		Canon, Inc		1,356
	7,533	e	Casio Computer Co Ltd		123
	6,144		Central Japan Railway Co		1,279
	1,900	e	Century Leasing System, Inc		118
	27,162		Chiba Bank Ltd		186
	95,706		Chubu Electric Power Co, Inc		1,450
	67,169		Chugai Pharmaceutical Co Ltd		4,318
	12,566	e	Chugoku Electric Power Co, Inc		161

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	5,600		Coca-Cola West Japan Co Ltd	$	150
	46,400		Concordia Financial Group Ltd		227
	45,000		Cosmo Energy Holdings Co Ltd		1,853
	5,768		Credit Saison Co Ltd		94
	4,300		CyberAgent, Inc		229
	4,900	*,e	CYBERDYNE, Inc		39
	10,238		Dai Nippon Printing Co Ltd		238
	12,046		Daicel Chemical Industries Ltd		140
	4,300		Daifuku Co Ltd		219
	1,208,111		Dai-ichi Mutual Life Insurance Co		25,183
	248,894		Daiichi Sankyo Co Ltd		10,789
	81,455		Daikin Industries Ltd		10,842
	7,749		Daito Trust Construction Co Ltd		999
	24,256		Daiwa House Industry Co Ltd		719
	70,080		Daiwa Securities Group, Inc		426
	4,600		Dena Co Ltd		81
	19,087		Denso Corp		1,008
	9,455		Dentsu, Inc		439
	1,200		Disco Corp		201
	5,133		Don Quijote Co Ltd		260
	114,197		East Japan Railway Co		10,608
	10,728		Eisai Co Ltd		1,045
	6,493		Electric Power Development Co		180
	169,500		en-japan, Inc		8,506
	2,644		FamilyMart Co Ltd		276
	8,285		Fanuc Ltd		1,559
	2,483		Fast Retailing Co Ltd		1,258
	5,164		Fuji Electric Holdings Co Ltd		207
	26,439		Fuji Heavy Industries Ltd		810
	501,286		Fujifilm Holdings Corp		22,552
	371,399		Fujitsu Ltd		26,458
	6,147		Fukuoka Financial Group, Inc		169
	20		GLP J-Reit		19
	328,800		GMO Payment Gateway, Inc		20,368
	9,400		Hakuhodo DY Holdings, Inc		165
	6,100		Hamamatsu Photonics KK		243
	10,093		Hankyu Hanshin Holdings, Inc		358
	932		Hikari Tsushin, Inc		184
	10,882		Hino Motors Ltd		119
	1,373		Hirose Electric Co Ltd		150
	8,875		Hisamitsu Pharmaceutical Co, Inc		681
	13,985		Hitachi Chemical Co Ltd		285
	4,733		Hitachi Construction Machinery Co Ltd		158
	2,800		Hitachi High-Technologies Corp		97
	1,273,959		Hitachi Ltd		43,304
	25,585	e	Hitachi Metals Ltd		317
	69,796		Honda Motor Co Ltd		2,102
	2,312		Hoshizaki Electric Co Ltd		239
	16,527		Hoya Corp		982
	74,728		Hulic Co Ltd		733
	17,329		Idemitsu Kosan Co Ltd		917
	6,329		Iida Group Holdings Co Ltd		112
	4,329,600		Infomart Corp		56,331

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	123,883		Inpex Holdings, Inc	$	1,548
	4,449		Invincible Investment Corp		1,859
	15,081	e	Isetan Mitsukoshi Holdings Ltd		185
	702,622		Ishikawajima-Harima Heavy Industries Co Ltd		26,620
	23,600		Isuzu Motors Ltd		372
	61,469		Itochu Corp		1,125
	9,895		J Front Retailing Co Ltd		153
	4,824		Japan Airlines Co Ltd		173
	2,103		Japan Airport Terminal Co Ltd		96
	16,846		Japan Post Bank Co Ltd		199
	67,540		Japan Post Holdings Co Ltd		804
	32		Japan Prime Realty Investment Corp		114
	55		Japan Real Estate Investment Corp		288
	1,013		Japan Retail Fund Investment Corp		1,838
	137,063		Japan Tobacco, Inc		3,579
	66,223		JFE Holdings, Inc		1,519
	9,078		JGC Corp		208
	25,558		JSR Corp		477
	576,503		JTEKT Corp		8,440
	2,620,688		JX Holdings, Inc		19,822
	19,686		Kajima Corp		286
	6,134		Kakaku.com, Inc		120
	4,785		Kamigumi Co Ltd		105
	6,826		Kaneka Corp		315
	195,635		Kansai Electric Power Co, Inc		2,953
	25,614	e	Kansai Paint Co Ltd		472
	64,985		Kao Corp		5,249
	6,051		Kawasaki Heavy Industries Ltd		171
	76,497		KDDI Corp		2,110
	4,300		Keihan Electric Railway Co Ltd		164
	9,660	e	Keihin Electric Express Railway Co Ltd		176
	4,623		Keio Corp		253
	5,713		Keisei Electric Railway Co Ltd		201
	28		Kenedix Realty Investment Corp		179
	225,300		Kenedix, Inc		1,286
	4,238		Keyence Corp		2,462
	6,395	e	Kikkoman Corp		381
	7,449		Kintetsu Corp		300
	35,749		Kirin Brewery Co Ltd		917
	2,100		Kobayashi Pharmaceutical Co Ltd		155
	41,101		Kobe Steel Ltd		365
	4,600		Koito Manufacturing Co Ltd		302
	39,450		Komatsu Ltd		1,201
	3,686		Konami Corp		144
	966,420		Konica Minolta Holdings, Inc		10,285
	1,228		Kose Corp		234
	1,041,098		Kubota Corp		17,687
	45,274		Kuraray Co Ltd		681
	4,277		Kurita Water Industries Ltd		125
	13,700		Kyocera Corp		822
	22,789		Kyowa Hakko Kogyo Co Ltd		428
	36,377	e	Kyushu Electric Power Co, Inc		440
	6,900		Kyushu Railway Co		210

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,980		Lawson, Inc	$	121
	2,800	*,e	LINE Corp		118
	9,600		Lion Corp		213
	11,264		LIXIL Group Corp		217
	17,276		M3, Inc		392
	2,137		Mabuchi Motor Co Ltd		86
	9,588		Makita Corp		480
	1,198,465		Marubeni Corp		10,961
	8,509	e	Marui Co Ltd		210
	7,396		Maruichi Steel Tube Ltd		241
	23,515		Mazda Motor Corp		283
	2,800		McDonald’s Holdings Co Japan Ltd		123
	7,159		Mediceo Paltac Holdings Co Ltd		150
	208,100	e	Megachips Corp		4,380
	5,108		MEIJI Holdings Co Ltd		343
	16,400		Minebea Co Ltd		297
	5,500		Miraca Holdings, Inc		143
	12,000		MISUMI Group, Inc		311
	177,962		Mitsubishi Chemical Holdings Corp		1,703
	57,822		Mitsubishi Corp		1,781
	78,114		Mitsubishi Electric Corp		1,070
	83,196		Mitsubishi Estate Co Ltd		1,413
	23,080		Mitsubishi Gas Chemical Co, Inc		491
	259,312		Mitsubishi Heavy Industries Ltd		10,014
	317,311		Mitsubishi Materials Corp		9,480
	28,908		Mitsubishi Motors Corp		204
	11,251,562		Mitsubishi UFJ Financial Group, Inc		69,902
	18,800		Mitsubishi UFJ Lease & Finance Co Ltd		111
	71,382		Mitsui & Co Ltd		1,269
	24,228		Mitsui Chemicals, Inc		606
	115,906		Mitsui Fudosan Co Ltd		2,741
	4,949	e	Mitsui OSK Lines Ltd		144
	20,342		Mitsui Sumitomo Insurance Group Holdings, Inc		680
	14,118		Mitsui Trust Holdings, Inc		581
	1,025,756		Mizuho Financial Group, Inc		1,788
	916,800	e	MonotaRO Co Ltd		25,859
	117		Mori Hills REIT Investment Corp		149
	200,335		Murata Manufacturing Co Ltd		30,783
	4,839		Nabtesco Corp		129
	7,700		Nagoya Railroad Co Ltd		191
	8,406		Namco Bandai Holdings, Inc		327
	11,261		NEC Corp		311
	18,000	*	Nexon Co Ltd		235
	11,524		NGK Insulators Ltd		190
	7,048		NGK Spark Plug Co Ltd		205
	9,517		Nidec Corp		1,369
	13,981	e	Nikon Corp		263
	224,903		Nintendo Co Ltd		81,827
	57		Nippon Building Fund, Inc		330
	3,662		Nippon Electric Glass Co Ltd		115
	3,444		Nippon Express Co Ltd		226
	3,672		Nippon Meat Packers, Inc		136
	20,626		Nippon Paint Co Ltd		770

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	77		Nippon ProLogis REIT, Inc	$	153
	99,001		Nippon Steel Corp		2,094
	762,592		Nippon Telegraph & Telephone Corp		34,416
	6,876	e	Nippon Yusen Kabushiki Kaisha		129
	16,139		Nissan Chemical Industries Ltd		852
	1,424,227		Nissan Motor Co Ltd		13,327
	8,931		Nisshin Seifun Group, Inc		196
	2,745		Nissin Food Products Co Ltd		189
	3,413		Nitori Co Ltd		489
	21,337		Nitto Denko Corp		1,600
	14,638		NKSJ Holdings, Inc		624
	382,255	e	NOK Corp		6,561
	2,777,780		Nomura Holdings, Inc		13,249
	5,274		Nomura Real Estate Holdings, Inc		106
	475		Nomura Real Estate Master Fund, Inc		649
	4,900		Nomura Research Institute Ltd		247
	16,235		NSK Ltd		186
	27,100		NTT Data Corp		375
	292,586	e	NTT DoCoMo, Inc		7,864
	27,796		Obayashi Corp		263
	2,900		Obic Co Ltd		274
	12,246	e	Odakyu Electric Railway Co Ltd		290
	110,994		OJI Paper Co Ltd		806
	743,043		Olympus Corp		28,994
	114,844		Omron Corp		4,853
	16,768		Ono Pharmaceutical Co Ltd		475
	1,603		Oracle Corp Japan		129
	8,531		Oriental Land Co Ltd		892
	2,247,418		ORIX Corp		36,389
	216		Orix JREIT, Inc		337
	470,721		Osaka Gas Co Ltd		9,192
	21,522		Osaka Securities Exchange Co Ltd		375
	4,322		Otsuka Corp		161
	16,700		Otsuka Holdings KK		842
	311,100		Paltac Corp		17,006
	290,455		Panasonic Corp		3,367
	5,000		Park24 Co Ltd		151
	4,110		Pola Orbis Holdings, Inc		150
	37,600		Rakuten, Inc		288
	146,853		Recruit Holdings Co Ltd		4,905
	33,900	*	Renesas Electronics Corp		212
	89,942		Resona Holdings, Inc		505
	28,682		Ricoh Co Ltd		308
	1,512		Rinnai Corp		115
	121,235		Rohm Co Ltd		8,870
	1,044		Ryohin Keikaku Co Ltd		310
	1,980		Sankyo Co Ltd		77
	51,753		Santen Pharmaceutical Co Ltd		821
	171,691		SBI Holdings, Inc		5,329
	8,967		Secom Co Ltd		731
	6,552		Sega Sammy Holdings, Inc		97
	9,200		Seibu Holdings, Inc		165
	12,400		Seiko Epson Corp		212

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	756,900		Seino Holdings Corp	$	11,437
	16,295		Sekisui Chemical Co Ltd		301
	82,720		Sekisui House Ltd		1,261
	151,800	e	Seria Co Ltd		5,363
	32,286		Seven & I Holdings Co Ltd		1,439
	24,000	e	Seven Bank Ltd		76
	4,200		SG Holdings Co Ltd		110
	6,999		Sharp Corp		142
	186,399	*	SHIFT, Inc		8,310
	10,047		Shimadzu Corp		315
	927		Shimamura Co Ltd		88
	3,192		Shimano, Inc		515
	23,262		Shimizu Corp		212
	88,639		Shin-Etsu Chemical Co Ltd		7,836
	6,877		Shinsei Bank Ltd		112
	58,190		Shionogi & Co Ltd		3,804
	16,193		Shiseido Co Ltd		1,254
	19,501		Shizuoka Bank Ltd		175
	5,800		Showa Denko KK		320
	24,822		Showa Shell Sekiyu KK		527
	2,463		SMC Corp		788
	525,000		SMS Co Ltd		10,433
	198,866		Softbank Corp		19,867
	3,100		Sohgo Security Services Co Ltd		136
	4,541,900		Sojitz Holdings Corp		16,390
	2,967,604		Sony Corp		180,394
	157,728		Sony Financial Holdings, Inc		3,478
	5,814		Stanley Electric Co Ltd		199
	672	e	Star Asia Investment Corp		613
	8,600		Start Today Co Ltd		260
	10,035		Sumco Corp		146
	205,283		Sumitomo Chemical Co Ltd		1,201
	49,065		Sumitomo Corp		818
	6,863	e	Sumitomo Dainippon Pharma Co Ltd		158
	781,947		Sumitomo Electric Industries Ltd		12,270
	463,925		Sumitomo Heavy Industries Ltd		16,558
	31,815		Sumitomo Metal Mining Co Ltd		1,116
	646,791		Sumitomo Mitsui Financial Group, Inc		26,029
	50,516		Sumitomo Realty & Development Co Ltd		1,812
	7,363		Sumitomo Rubber Industries, Inc		111
	2,800		Sundrug Co Ltd		100
	6,000		Suntory Beverage & Food Ltd		254
	3,307		Suzuken Co Ltd		157
	14,734		Suzuki Motor Corp		844
	185,071		Sysmex Corp		15,959
	23,495		T&D Holdings, Inc		388
	5,000		Taiheiyo Cement Corp		157
	9,293		Taisei Corp		424
	5,056		Taisho Pharmaceutical Holdings Co Ltd		619
	16,267		Taiyo Nippon Sanso Corp		243
	6,058		Takashimaya Co Ltd		102
	30,511	e	Takeda Pharmaceutical Co Ltd		1,305

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	10,494		Tanabe Seiyaku Co Ltd	$	176
	61,156		TDK Corp		6,664
	207,700		TechnoPro Holdings, Inc		12,892
	24,586		Teijin Ltd		472
	7,702		Temp Holdings Co Ltd		181
	13,246		Terumo Corp		784
	5,194		THK Co Ltd		132
	7,834		Tobu Railway Co Ltd		232
	4,875		Toho Co Ltd		153
	3,000		Toho Gas Co Ltd		114
	19,113		Tohoku Electric Power Co, Inc		260
	436,264		Tokio Marine Holdings, Inc		21,658
	616,800	*,e	Tokyo Base Co Ltd		3,501
	196,325	*	Tokyo Electric Power Co, Inc		965
	6,716	e	Tokyo Electron Ltd		926
	99,032		Tokyo Gas Co Ltd		2,436
	41,400		Tokyo Tatemono Co Ltd		505
	21,629		Tokyu Corp		396
	22,000		Tokyu Fudosan Holdings Corp		153
	10,867		Toppan Printing Co Ltd		174
	187,045		Toray Industries, Inc		1,403
	27,855	*	Toshiba Corp		805
	888,520		Tosoh Corp		13,685
	6,342	e	Toto Ltd		263
	20,939		Toyo Seikan Kaisha Ltd		435
	3,899		Toyo Suisan Kaisha Ltd		151
	2,897		Toyoda Gosei Co Ltd		72
	195,693		Toyota Industries Corp		11,583
	1,841,453		Toyota Motor Corp		114,727
	9,394		Toyota Tsusho Corp		355
	5,028		Trend Micro, Inc		323
	378,500		TS Tech Co Ltd		13,058
	1,500		Tsuruha Holdings, Inc		185
	17,207		Uni-Charm Corp		569
	311		United Urban Investment Corp		489
	9,430		USS Co Ltd		175
	106,343	e	Wash House Co Ltd		1,321
	6,907		West Japan Railway Co		481
	1,446,438		Yahoo! Japan Corp		5,194
	4,604		Yakult Honsha Co Ltd		378
	26,331		Yamada Denki Co Ltd		133
	8,406	e	Yamaguchi Financial Group, Inc		92
	5,808		Yamaha Corp		308
	12,091		Yamaha Motor Co Ltd		339
	13,455	e	Yamato Transport Co Ltd		413
	5,453		Yamazaki Baking Co Ltd		109
	10,324		Yaskawa Electric Corp		307
	9,710		Yokogawa Electric Corp		205
	4,800		Yokohama Rubber Co Ltd		103
	469,000	e	Yume No Machi Souzou Iinkai Co Ltd		15,099
			TOTAL JAPAN		1,506,574

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
JERSEY, C.I. - 0.0%
	11,773		Randgold Resources Ltd	$	833
			TOTAL JERSEY, C.I.		833
KAZAKHSTAN - 0.0%
	1,077,100	*	KAZ Minerals plc		7,673
			TOTAL KAZAKHSTAN		7,673
KOREA, REPUBLIC OF - 0.9%
	5,751		Amorepacific Corp		1,353
	654		Amorepacific Corp (Preference)		81
	552		BGF retail Co Ltd		102
	17,694		BS Financial Group, Inc		137
	2,503	*,e	Celltrion Healthcare Co Ltd		208
	1,080	*	Celltrion Pharm Inc		78
	14,404	*,e	Celltrion, Inc		3,860
	4,783		Cheil Communications, Inc		93
	13,539		Cheil Industries, Inc		1,580
	583		CJ CheilJedang Corp		175
	976		CJ Corp		119
	771		CJ O Shopping Co Ltd		172
	1,950		Daelim Industrial Co		145
	11,292	*	Daewoo Engineering & Construction Co Ltd		60
	3,257		Daewoo International Corp		61
	27,963		Daewoo Securities Co Ltd		214
	11,210		DGB Financial Group Co Ltd		103
	3,471		Dongbu Insurance Co Ltd		228
	2,515		Dongsuh Co, Inc		48
	3,144		Doosan Bobcat, Inc		115
	4,210	*	Doosan Heavy Industries and Construction Co Ltd		57
	975,441	*,e	Doosan Infracore Co Ltd		8,614
	3,738		E-Mart Co Ltd		699
	1,334		GLOVIS Co Ltd		156
	3,611		GS Engineering & Construction Corp		170
	4,506		GS Holdings Corp		224
	1,935		GS Retail Co Ltd		67
	52,264		Hana Financial Group, Inc		2,099
	5,164		Hankook Tire Co Ltd		233
	441		Hanmi Pharm Co Ltd		199
	880		Hanmi Science Co Ltd		70
	12,913		Hanon Systems		147
	720		Hanssem Co Ltd		50
	7,405		Hanwha Chemical Corp		129
	2,713		Hanwha Corp		80
	2,449	*	HDC Hyundai Development Co-Engineering & Construction		112
	2,198	*	HLB, Inc		238
	2,831		Honam Petrochemical Corp		709
	2,220		Hotel Shilla Co Ltd		217
	103,158		Hynix Semiconductor, Inc		6,825
	990		Hyundai Department Store Co Ltd		89
	13,783		Hyundai Engineering & Construction Co Ltd		838
	6,501	*	Hyundai Heavy Industries		788
	4,330		Hyundai Marine & Fire Insurance Co Ltd		164

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	12,091		Hyundai Mobis	$	2,485
	27,205		Hyundai Motor Co		3,176
	2,620		Hyundai Motor Co Ltd (2nd Preference)		200
	1,642		Hyundai Motor Co Ltd (Preference)		116
	685	*	Hyundai Robotics Co Ltd		250
	14,635		Hyundai Steel Co		746
	17,658		Industrial Bank of Korea		243
	248,250	g	ING Life Insurance Korea Ltd		7,632
	8,257		Kakao Corp		885
	8,299		Kangwon Land, Inc		215
	374,758		KB Financial Group, Inc		18,252
	397		KCC Corp		121
	1,559		KEPCO Plant Service & Engineering Co Ltd		48
	46,364		Kia Motors Corp		1,467
	5,127	*	Korea Aerospace Industries Ltd		162
	46,336		Korea Electric Power Corp		1,226
	565	*	Korea Express Co Ltd		80
	1,985	*	Korea Gas Corp		109
	2,928		Korea Investment Holdings Co Ltd		201
	1,308		Korea Kumho Petrochemical		116
	20,426		Korea Life Insurance Co Ltd		97
	623		Korea Zinc Co Ltd		245
	3,030		Korean Air Lines Co Ltd		77
	405		KT Corp		11
	20,866		KT&G Corp		1,956
	8,160		LG Chem Ltd		2,688
	568		LG Chem Ltd (Preference)		104
	16,745		LG Corp		1,096
	18,856		LG Electronics, Inc		1,207
	1,670		LG Household & Health Care Ltd		1,921
	157		LG Household & Health Care Ltd (Preference)		114
	1,006		LG Innotek Co Ltd		118
	15,241		LG Telecom Ltd		251
	41,029		LG.Philips LCD Co Ltd		709
	1,996	*	Lotte Corp		103
	789		Lotte Shopping Co Ltd		149
	296		Medy-Tox, Inc		165
	4,947		Naver Corp		3,193
	1,249		NCsoft		498
	1,809	g	Netmarble Corp		188
	67,518		OCI Co Ltd		6,694
	1,544		Orion Corp/Republic of Korea		147
	86		Ottogi Corp		58
	5,235		Pacific Corp		440
	408	*	Pearl Abyss Corp		79
	13,555		POSCO		3,598
	1,224		S1 Corp (Korea)		101
	2,927	*,g	Samsung Biologics Co Ltd		1,409
	1,929		Samsung Card Co		64
	89,580		Samsung Electro-Mechanics Co Ltd		11,220
	855,015		Samsung Electronics Co Ltd		35,783
	152,734		Samsung Electronics Co Ltd (Preference)		5,209
	11,003	*	Samsung Engineering Co Ltd		191

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	5,459		Samsung Fire & Marine Insurance Co Ltd	$	1,398
	31,128	*	Samsung Heavy Industries Co Ltd		227
	12,285		Samsung Life Insurance Co Ltd		1,078
	69,335		Samsung SDI Co Ltd		16,148
	6,131		Samsung SDS Co Ltd		1,277
	4,431		Samsung Securities Co Ltd		130
	75,366		Shinhan Financial Group Co Ltd		3,045
	521		Shinsegae Co Ltd		170
	4,156	*	SillaJen, Inc		383
	44,567		SK C&C Co Ltd		11,532
	12,349		SK Energy Co Ltd		2,394
	3,583		SK Telecom Co Ltd		908
	3,548		S-Oil Corp		438
	16,830	*	STX Pan Ocean Co Ltd		80
	946	*	ViroMed Co Ltd		205
	3,409		Woongjin Coway Co Ltd		267
	82,447		Woori Bank		1,255
	9,742		Woori Investment & Securities Co Ltd		126
	598		Yuhan Corp		131
			TOTAL KOREA, REPUBLIC OF		190,711
LUXEMBOURG - 0.0%
	28,409		ArcelorMittal		882
	485		Eurofins Scientific		276
	2,881	e	Millicom International Cellular S.A.		165
	10,341		Reinet Investments S.C.A		193
	1,688		RTL Group		120
	15,459		SES Global S.A.		339
	20,828		Tenaris S.A.		349
			TOTAL LUXEMBOURG		2,324
MACAU - 0.1%
	2,987,792	e	MGM China Holdings Ltd		4,717
	103,933		Sands China Ltd		468
	4,727,783		Wynn Macau Ltd		10,858
			TOTAL MACAU		16,043
MALAYSIA - 0.1%
	94,200		AirAsia BHD		72
	61,400		Alliance Financial Group BHD		62
	107,200		AMMB Holdings BHD		107
	74,100		Astro Malaysia Holdings BHD		26
	10,000		British American Tobacco Malaysia BHD		77
	826,000		Bumiputra-Commerce Holdings BHD		1,199
	285,200		Dialog Group BHD		241
	218,300		Digi.Com BHD		254
	104,600		Felda Global Ventures Holdings BHD		39
	9,700		Fraser & Neave Holdings BHD		88
	133,500		Gamuda BHD		108
	146,900		Genting BHD		277
	14,700		Genting Plantations BHD		34
	41,200		HAP Seng Consolidated BHD		99
	95,700		Hartalega Holdings BHD		153

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	46,400		Hong Leong Bank BHD	$	231
	14,000		Hong Leong Credit BHD		65
	180,900		IHH Healthcare BHD		228
	191,500		IJM Corp BHD		83
	132,500		IOI Corp BHD		145
	87,900		IOI Properties Group Sdn BHD		36
	30,900		Kuala Lumpur Kepong BHD		186
	757,600		Malayan Banking BHD		1,792
	64,600		Malaysia Airports Holdings BHD		139
	162,000		Maxis BHD		229
	76,500		MISC BHD		112
	139,400		My EG Services BHD		59
	4,300		Nestle Malaysia BHD		152
	452,000		Petronas Chemicals Group BHD		1,022
	25,600		Petronas Dagangan BHD		162
	50,000		Petronas Gas BHD		228
	41,980		PPB Group BHD		170
	99,500		Press Metal BHD		117
	531,200		Public Bank BHD		3,208
	207,900		Resorts World BHD		251
	64,200		RHB Capital BHD		84
	162,600		Sime Darby BHD		103
	171,500		Sime Darby Plantation BHD		219
	202,000		Sime Darby Property BHD		58
	100,300		SP Setia BHD		65
	70,400		Telekom Malaysia BHD		55
	603,300		Tenaga Nasional BHD		2,256
	188,356		TM International BHD		208
	50,600		Top Glove Corp BHD		130
	19,900		UMW Holdings BHD		24
	69,100		Westports Holdings BHD		63
	223,000		YTL Corp BHD		67
			TOTAL MALAYSIA		14,783
MEXICO - 0.1%
	528,600		Alfa S.A. de C.V. (Class A)		682
	35,500		Alsea SAB de C.V.		121
	5,940,600		America Movil S.A. de C.V. (Series L)		4,774
	317,585		Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		495
	1,023,700	*	Cemex S.A. de C.V.		719
	91,000		Coca-Cola Femsa S.A. de C.V.		556
	13,300		El Puerto de Liverpool SAB de C.V.		100
	76,400		Embotelladoras Arca SAB de C.V.		494
	235,500		Fibra Uno Administracion S.A. de C.V.		310
	347,800		Fomento Economico Mexicano S.A. de C.V.		3,442
	9,020		Fresnillo plc		96
	15,210		Gruma SAB de C.V.		194
	25,100		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		274
	14,450		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		295
	114,200	e	Grupo Bimbo S.A. de C.V. (Series A)		244
	28,700		Grupo Carso S.A. de C.V. (Series A1)		95

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	184,500		Grupo Financiero Banorte S.A. de C.V.	$	1,334
	3,805,349		Grupo Financiero Inbursa S.A.		5,970
	653,200		Grupo Mexico S.A. de C.V. (Series B)		1,883
	171,400		Grupo Televisa S.A.		609
	30,095		Industrias Penoles S.A. de C.V.		518
	38,400		Infraestructura Energetica ,NV SAB de C.V.		191
	107,300	e	Kimberly-Clark de Mexico S.A. de C.V. (Class A)		191
	76,600		Mexichem SAB de C.V.		263
	16,270		Promotora y Operadora de Infraestructura SAB de C.V.		173
	1,886,200		Wal-Mart de Mexico SAB de C.V.		5,748
			TOTAL MEXICO		29,771
MONGOLIA - 0.0%
	42,145	*	Turquoise Hill Resources Ltd		90
			TOTAL MONGOLIA		90
NETHERLANDS - 2.2%
	1,415,785	g	ABN AMRO Group NV (ADR)		38,558
	21,508	*,g	Adyen NV		17,555
	75,955		Aegon NV		493
	32,758		Akzo Nobel NV		3,064
	362,217		ASML Holding NV		68,008
	280,439		ASR Nederland NV		13,367
	7,657		DSM NV		811
	4,058		Eurocommercial Properties NV		149
	304,728	g	Euronext NV		20,022
	212,654		EXOR NV		14,189
	4,933		Heineken Holding NV		447
	85,047		Heineken NV		7,982
	8,411,849		ING Groep NV		109,178
	8,117	*	InterXion Holding NV		546
	165,757		Koninklijke Ahold Delhaize NV		3,803
	838,281		Koninklijke KPN NV		2,211
	665,091		Koninklijke Philips Electronics NV		30,316
	3,089		Koninklijke Vopak NV		152
	12,787		NN Group NV		571
	154,138	*	NXP Semiconductors NV		13,179
	5,139		Randstad Holdings NV		274
	2,938,202		Royal Dutch Shell plc (A Shares)		100,746
	160,161		Royal Dutch Shell plc (B Shares)		5,607
	3,479	e	Wereldhave NV		123
	334,351		Wolters Kluwer NV		20,843
			TOTAL NETHERLANDS		472,194
NEW ZEALAND - 0.1%
	31,744	*	a2 Milk Co Ltd		237
	6,220,216		Air New Zealand Ltd		12,744
	41,204		Auckland International Airport Ltd		199
	24,719		Fisher & Paykel Healthcare Corp		246
	37,084		Fletcher Building Ltd		161
	92,739		Kiwi Property Group Ltd		86
	55,395		Meridian Energy Ltd		121
	17,328		Ryman Healthcare Ltd		161

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	74,451		Telecom Corp of New Zealand Ltd	$	200
			TOTAL NEW ZEALAND		14,155
NORWAY - 0.6%
	926,836		Aker BP ASA		39,245
	902,726		DNB NOR Holding ASA		18,997
	7,848		Gjensidige Forsikring BA		132
	58,793		Norsk Hydro ASA		353
	35,444		Orkla ASA		299
	17,863		PAN Fish ASA		414
	4,273		Schibsted ASA (B Shares)		148
	2,124,986		Statoil ASA		59,747
	32,293		Telenor ASA		632
	348,900		TGS Nopec Geophysical Co ASA		14,204
	65,824		Yara International ASA		3,231
			TOTAL NORWAY		137,402
PAKISTAN - 0.0%
	33,500		Habib Bank Ltd		41
	7,000		Lucky Cement Ltd		29
	22,100		MCB Bank Ltd		35
	67,300		Oil & Gas Development Co Ltd		83
	25,700		United Bank Ltd		32
			TOTAL PAKISTAN		220
PERU - 0.0%
	14,800		Cia de Minas Buenaventura S.A. (ADR) (Series B)		198
	11,600		Credicorp Ltd (NY)		2,588
	13,749		Southern Copper Corp (NY)		593
			TOTAL PERU		3,379
PHILIPPINES - 0.1%
	129,360		Aboitiz Equity Ventures, Inc		117
	102,800		Aboitiz Power Corp		64
	266,100	*	Alliance Global Group, Inc		62
	45,030		Ayala Corp		773
	1,330,000		Ayala Land, Inc		986
	354,280		Banco de Oro Universal Bank		786
	62,120		Bank of the Philippine Islands		96
	258,400		DMCI Holdings, Inc		55
	2,290		Globe Telecom, Inc		93
	6,094		GT Capital Holdings, Inc		92
	31,650		International Container Term Services, Inc		55
	194,430		JG Summit Holdings (Series B)		194
	30,920		Jollibee Foods Corp		147
	17,190		Manila Electric Co		108
	59,625,283		Megaworld Corp		4,856
	965,900		Metro Pacific Investments Corp		85
	55,576		Metropolitan Bank & Trust		69
	5,945		PLDT, Inc		150
	131,200		Robinsons Land Corp		49
	5,471,450		Robinsons Retail Holdings, Inc		8,071
	14,810		Security Bank Corp		42

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	17,050		SM Investments Corp	$	285
	1,631,000		SM Prime Holdings		1,091
	62,060		Universal Robina		166
			TOTAL PHILIPPINES		18,492
POLAND - 0.0%
	6,068	*	Alior Bank S.A.		103
	2,375		Bank Handlowy w Warszawie S.A.		50
	38,323	*	Bank Millennium S.A.		96
	28,894		Bank Pekao S.A.		831
	2,371		Bank Zachodni WBK S.A.		241
	897		BRE Bank S.A.		109
	1,957	*	CCC S.A.		117
	4,779	*	CD Projekt Red S.A.		243
	16,455	*	Cyfrowy Polsat S.A.		99
	3,441	*,g	Dino Polska S.A.		93
	7,925		Grupa Lotos S.A.		161
	3,597	*	Jastrzebska Spolka Weglowa S.A.		65
	9,862	*	KGHM Polska Miedz S.A.		238
	91		LPP S.A.		213
	6,526	g	PLAY Communications S.A.		36
	154,984	*	Polish Oil & Gas Co		272
	57,290	*	Polska Grupa Energetyczna S.A.		148
	58,778		Polski Koncern Naftowy Orlen S.A.		1,611
	160,208		Powszechna Kasa Oszczednosci Bank Polski S.A.		1,861
	105,285		Powszechny Zaklad Ubezpieczen S.A.		1,133
	39,143	*	Telekomunikacja Polska S.A.		47
	3,162		Zaklady Azotowe w Tarnowie-Moscicach S.A.		27
			TOTAL POLAND		7,794
PORTUGAL - 0.1%
	106,839		Energias de Portugal S.A.		394
	21,484		Galp Energia SGPS S.A.		426
	801,816		Jeronimo Martins SGPS S.A.		11,819
			TOTAL PORTUGAL		12,639
QATAR - 0.0%
	6,651	*	Barwa Real Estate Co		65
	13,949	*	Commercial Bank of Qatar QSC		155
	10,225	*	Doha Bank QSC		59
	55,613	*	Ezdan Holding Group QSC		162
	12,966	*	Industries Qatar QSC		445
	26,255	*	Masraf Al Rayan		270
	5,431	*	Ooredoo QSC		103
	3,635	*	Qatar Electricity & Water Co		192
	10,795	*	Qatar Insurance Co SAQ		113
	8,260	*	Qatar Islamic Bank SAQ		318
	32,109	*	Qatar National Bank		1,566
			TOTAL QATAR		3,448
ROMANIA - 0.0%
	26,311		NEPI Rockcastle plc		239
			TOTAL ROMANIA		239

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
RUSSIA - 0.2%
	996,917		Gazprom (ADR)	$	4,955
	78,714		LUKOIL PJSC (ADR)		6,017
	25,486	*	Magnit PJSC (GDR)		362
	119,542		MMC Norilsk Nickel PJSC (ADR)		2,055
	36,300		Mobile TeleSystems (ADR)		310
	17,336		Novatek PJSC (GDR)		3,190
	9,183	*	Novolipetsk Steel PJSC (GDR)		248
	9,436		PhosAgro PJSC (GDR)		128
	4,621		Polyus PJSC (GDR)		145
	243,266	*	Rosneft Oil Co PJSC (GDR)		1,826
	95,510		RusHydro PJSC (ADR)		85
	91,766	*	Sberbank of Russia (ADR)		1,154
	1,164,331		Sberbank of Russian Federation (ADR)		14,722
	16,560		Severstal (GDR)		276
	325,416		Surgutneftegaz (ADR) (London)		1,350
	43,215		Tatneft PAO (ADR)		3,297
	4,050		Tatneft PJSC (ADR)		309
	113,502		VTB Bank OJSC (GDR)		152
	8,973		X 5 Retail Group NV (GDR)		203
			TOTAL RUSSIA		40,784
SINGAPORE - 0.1%
	308,345		Ascendas REIT		596
	16,900	g	BOC Aviation Ltd		131
	307,646	e	CapitaCommercial Trust		401
	315,846		CapitaLand Ltd		778
	108,817	e	CapitaMall Trust		177
	58,700	e	City Developments Ltd		391
	90,848		ComfortDelgro Corp Ltd		161
	251,930		DBS Group Holdings Ltd		4,806
	270,592		Genting Singapore Ltd		210
	290,765	e	Golden Agri-Resources Ltd		53
	4,166		Jardine Cycle & Carriage Ltd		98
	64,068		Keppel Corp Ltd		326
	521,559		Oversea-Chinese Banking Corp		4,364
	43,348	e	SembCorp Industries Ltd		98
	21,684	e	Singapore Airlines Ltd		154
	29,300		Singapore Airport Terminal Services Ltd		112
	313,843		Singapore Exchange Ltd		1,692
	71,025	e	Singapore Press Holdings Ltd		149
	67,407		Singapore Technologies Engineering Ltd		175
	1,062,791		Singapore Telecommunications Ltd		2,519
	305,200		Suntec Real Estate Investment Trust		431
	227,643		United Overseas Bank Ltd		4,500
	69,331		UOL Group Ltd		350
	11,800		Venture Corp Ltd		152
	79,462		Wilmar International Ltd		187
			TOTAL SINGAPORE		23,011

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
SOUTH AFRICA - 0.3%
	299,918		Absa Group Ltd	$	3,217
	4,277		Anglo American Platinum Ltd		140
	44,993	e	Anglo American plc (London)		1,007
	30,853		AngloGold Ashanti Ltd		267
	68,954		Aspen Pharmacare Holdings Ltd		825
	59,710	e	Bid Corp Ltd		1,245
	58,884	e	Bidvest Group Ltd		770
	2,865		Capitec Bank Holdings Ltd		207
	18,333		Clicks Group Ltd		227
	15,165		Coronation Fund Managers Ltd		58
	61,909		Discovery Holdings Ltd		744
	20,351	e	Exxaro Resources Ltd		209
	598,590		FirstRand Ltd		2,871
	51,220	e	Fortress REIT Ltd		55
	71,373	e	Fortress REIT Ltd (Class A)		85
	15,878		Foschini Ltd		195
	63,055		Gold Fields Ltd		151
	522,328		Growthpoint Properties Ltd		858
	17,115		Hyprop Investments Ltd		112
	11,276		Imperial Holdings Ltd		139
	19,047		Investec Ltd		134
	27,432		Investec plc		192
	4,483	e	Kumba Iron Ore Ltd		102
	8,013		Liberty Holdings Ltd		64
	94,865		Life Healthcare Group Holdings Pte Ltd		165
	14,523		Mediclinic International plc		81
	59,130		Metropolitan Holdings Ltd		73
	8,357		Mondi Ltd		229
	18,197		Mr Price Group Ltd		293
	299,018		MTN Group Ltd		1,852
	167,338		Naspers Ltd (N Shares)		36,036
	39,111	e	Nedbank Group Ltd		732
	84,088		Network Healthcare Holdings Ltd		144
	26,214		Pick’n Pay Stores Ltd		127
	8,750		Pioneer Foods Ltd		57
	10,588		PSG Group Ltd		172
	43,552		Rand Merchant Investment Holdings Ltd		119
	376,045		Redefine Properties Ltd		266
	94,745	e	Remgro Ltd		1,320
	18,364		Resilient REIT Ltd		75
	124,733		RMB Holdings Ltd		697
	275,221		Sanlam Ltd		1,538
	37,163		Sappi Ltd		233
	98,098		Sasol Ltd		3,790
	78,970		Shoprite Holdings Ltd		1,069
	13,672		Spar Group Ltd		178
	229,346		Standard Bank Group Ltd		2,836
	18,524		Telkom S.A. Ltd		68
	11,380		Tiger Brands Ltd		213
	31,046		Truworths International Ltd		183
	106,110		Vodacom Group Pty Ltd		944
	70,252		Woolworths Holdings Ltd		246
			TOTAL SOUTH AFRICA		67,610

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
SPAIN - 0.5%
	10,602		ACS Actividades Construccion y Servicios S.A.	$	450
	2,802	g	Aena S.A.		486
	472,744		Amadeus IT Holding S.A.		43,818
	285,569		Banco Bilbao Vizcaya Argentaria S.A.		1,811
	227,656		Banco de Sabadell S.A.		352
	2,114,697		Banco Santander S.A.		10,588
	50,279		Bankia S.A.		196
	29,395		Bankinter S.A.		270
	153,763		CaixaBank S.A.		699
	48,105		Corp Mapfre S.A.		151
	9,733		Enagas		262
	193,430		Endesa S.A.		4,172
	21,288		Ferrovial S.A.		441
	136,222		Gas Natural SDG S.A.		3,714
	13,134		Grifols S.A.		369
	755,782		Iberdrola S.A.		5,551
	348,298		Industria De Diseno Textil S.A.		10,523
	17,395		Inmobiliaria Colonial S.A.		180
	8,117	e	Lar Espana Real Estate Socimi S.A.		83
	108,528	*,†,e,m	Let’s GOWEX S.A.		6
	101,035	*	Masmovil Ibercom S.A.		11,639
	28,991		Merlin Properties Socimi S.A.		393
	52,482		Red Electrica Corp S.A.		1,097
	57,431		Repsol YPF S.A.		1,143
	233,714	*,e	Siemens Gamesa Renewable Energy		2,949
	760,903		Telefonica S.A.		6,002
			TOTAL SPAIN		107,345
SWEDEN - 0.4%
	12,846		Alfa Laval AB		348
	657,796		Assa Abloy AB		13,185
	28,683		Atlas Copco AB (A Shares)		825
	16,349		Atlas Copco AB (B-Shares)		436
	1,729	e	Autoliv, Inc		150
	385,571		Boliden AB		10,723
	11,596		Castellum AB		208
	10,362		Electrolux AB (Series B)		228
	28,683	*	Epiroc AB		320
	16,349	*	Epiroc AB		168
	129,974		Ericsson (LM) (B Shares)		1,150
	25,679		Essity AB		645
	27,832		Fabege AB		385
	25,512	*	Fastighets AB Balder		707
	39,421	e	Hennes & Mauritz AB (B Shares)		728
	370,385		Hexagon AB (B Shares)		21,685
	17,844		Husqvarna AB (B Shares)		152
	3,453	e	ICA Gruppen AB		109
	7,447		Industrivarden AB		165
	467,783	e	Intrum Justitia AB		12,137
	10,003		Investment AB Kinnevik (B Shares)		302
	19,420		Investor AB (B Shares)		895

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	23,193		Kungsleden AB	$	171
	3,259		Lundbergs AB (B Shares)		110
	7,618		Lundin Petroleum AB		290
	129,923		Nordea Bank AB		1,414
	48,308		Sandvik AB		855
	13,582	*	SAS AB		33
	13,163		Securitas AB (B Shares)		229
	347,085		Skandinaviska Enskilda Banken AB (Class A)		3,869
	14,796		Skanska AB (B Shares)		290
	16,143		SKF AB (B Shares)		318
	64,678		Svenska Handelsbanken AB		816
	198,695		Swedbank AB (A Shares)		4,914
	251,370		Swedish Match AB		12,849
	15,524		Tele2 AB (B Shares)		187
	119,038		TeliaSonera AB		546
	66,517		Volvo AB (B Shares)		1,173
			TOTAL SWEDEN		93,715
SWITZERLAND - 2.4%
	341,143		ABB Ltd		8,070
	7,168		Adecco S.A.		377
	100,560		Baloise Holding AG.		15,324
	95		Barry Callebaut AG.		180
	401,272		Cie Financiere Richemont S.A.		32,716
	9,388		Clariant AG.		244
	8,253		Coca-Cola HBC AG.		281
	3,000,057		Credit Suisse Group		45,017
	1,451	e	Dufry Group		164
	355		EMS-Chemie Holding AG.		212
	10,258		Ferguson plc		870
	68,128		Flughafen Zuerich AG.		13,766
	1,618		Geberit AG.		751
	15,140		Georg Fischer AG.		17,149
	395		Givaudan S.A.		972
	2,014,051		Glencore Xstrata plc		8,682
	20,541		Holcim Ltd		1,017
	9,555		Julius Baer Group Ltd		477
	756,986		Julius Baer Holding AG.		5,383
	2,228		Kuehne & Nagel International AG.		354
	44		Lindt & Spruengli AG.		308
	4		Lindt & Spruengli AG. (Registered)		328
	451,276		Lonza Group AG.		154,380
	492,972		Nestle S.A.		41,033
	1,292,894		Novartis AG.		111,291
	1,652		Pargesa Holding S.A.		133
	741		Partners Group		587
	2,327		Phonak Holding AG.		462
	4,058		PSP Swiss Property AG.		393
	69,551		Roche Holding AG.		16,818
	1,817		Schindler Holding AG.		453
	878		Schindler Holding AG. (Registered)		212
	235		SGS S.A.		619
	5,565		Sika AG.		810

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	27,996		STMicroelectronics NV	$	512
	2,934		Straumann Holding AG.		2,210
	1,331		Swatch Group AG.		529
	2,317		Swatch Group AG. (Registered)		180
	1,453		Swiss Life Holding		551
	7,551		Swiss Prime Site AG.		644
	13,533		Swiss Re Ltd		1,247
	1,109		Swisscom AG.		503
	2,578		Temenos Group AG.		420
	271,497		UBS AG.		4,287
	25,169		Vifor Pharma AG.		4,364
	80,682		Zurich Financial Services AG.		25,439
			TOTAL SWITZERLAND		520,719
TAIWAN - 1.1%
	204,000		Acer, Inc		168
	24,000		Advantech Co Ltd		179
	8,000	*	Airtac International Group		78
	243,000		ASE Industrial Holding Co Ltd		594
	154,000		Asia Cement Corp		209
	50,000		Asustek Computer, Inc		433
	599,000		AU Optronics Corp		253
	116,000		Catcher Technology Co Ltd		1,275
	1,449,000		Cathay Financial Holding Co Ltd		2,490
	1,976,517		Chailease Holding Co Ltd		6,918
	375,480		Chang Hwa Commercial Bank		232
	126,000		Cheng Shin Rubber Industry Co Ltd		198
	35,335		Chicony Electronics Co Ltd		72
	140,000		China Airlines		42
	940,000		China Development Financial Holding Corp		351
	452,280		China Life Insurance Co Ltd (Taiwan)		455
	2,387,000		China Steel Corp		1,993
	21,464,000		Chinatrust Financial Holding Co		16,161
	694,000		Chunghwa Telecom Co Ltd		2,500
	283,000		Compal Electronics, Inc		176
	698,182		Dadi Early-Childhood Education Group Ltd		4,952
	358,000		Delta Electronics, Inc		1,535
	1,779,957		E.Sun Financial Holding Co Ltd		1,314
	13,000		Eclat Textile Co Ltd		161
	106,300	*	Eva Airways Corp		52
	134,700		Evergreen Marine Corp Tawain Ltd		56
	222,000		Far Eastern Textile Co Ltd		260
	115,000		Far EasTone Telecommunications Co Ltd		274
	23,000		Feng TAY Enterprise Co Ltd		142
	1,738,710		First Financial Holding Co Ltd		1,184
	4,228,000		Formosa Chemicals & Fibre Corp		17,718
	284,000		Formosa Petrochemical Corp		1,377
	769,000		Formosa Plastics Corp		2,946
	52,000		Formosa Taffeta Co Ltd		63
	62,000		Foxconn Technology Co Ltd		151
	1,205,000		Fubon Financial Holding Co Ltd		2,044
	708,000		Fuhwa Financial Holdings Co Ltd		373
	11,000		General Interface Solution Holding Ltd		46

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	21,000		Giant Manufacturing Co Ltd	$	90
	15,000		Globalwafers Co Ltd		165
	41,000	*	High Tech Computer Corp		54
	48,000		Highwealth Construction Corp		76
	35,121		Hiwin Technologies Corp		290
	2,829,000		Hon Hai Precision Industry Co, Ltd		7,336
	1,535,678		Hota Industrial Manufacturing Co Ltd		6,641
	18,000		Hotai Motor Co Ltd		154
	1,349,215		Hua Nan Financial Holdings Co Ltd		817
	627,000		InnoLux Display Corp		218
	173,000		Inventec Co Ltd		155
	87,000		Largan Precision Co Ltd		10,336
	144,000		Lite-On Technology Corp		181
	128,401		Macronix International		107
	2,014,400		MediaTek, Inc		16,254
	1,987,000		Mega Financial Holding Co Ltd		1,789
	47,000		Micro-Star International Co Ltd		127
	891,000		Nan Ya Plastics Corp		2,474
	73,000		Nanya Technology Corp		139
	383,000		Nien Made Enterprise Co Ltd		2,997
	40,000		Novatek Microelectronics Corp Ltd		197
	137,000		Pegatron Technology Corp		274
	10,000		Phison Electronics Corp		80
	145,000		Pou Chen Corp		153
	49,000		Powertech Technology, Inc		133
	41,000		President Chain Store Corp		481
	190,000		Quanta Computer, Inc		331
	32,000		Realtek Semiconductor Corp		143
	54,000	m	Ruentex Development Co Ltd		63
	41,000		Ruentex Industries Ltd		81
	605,950	*	Shin Kong Financial Holding Co Ltd		237
	1,775,860		SinoPac Financial Holdings Co Ltd		648
	25,000		Standard Foods Corp		42
	97,000		Synnex Technology International Corp		124
	11,000	*	TaiMed Biologics, Inc		68
	683,220		Taishin Financial Holdings Co Ltd		330
	249,680	*	Taiwan Business Bank		91
	754,600		Taiwan Cement Corp		1,015
	1,466,700		Taiwan Cooperative Financial Holding		893
	134,000		Taiwan High Speed Rail Corp		131
	117,000		Taiwan Mobile Co Ltd		420
	11,932,200		Taiwan Semiconductor Manufacturing Co Ltd		101,824
	111,000		Teco Electric and Machinery Co Ltd		81
	860,000		Uni-President Enterprises Corp		2,244
	2,128,000		United Microelectronics Corp		1,123
	63,000		Vanguard International Semiconductor Corp		141
	22,000		Walsin Technology Corp		153
	25,000		Win Semiconductors Corp		110
	204,000		Winbond Electronics Corp		97
	194,697		Wistron Corp		127
	217,000	m	WPG Holdings Co Ltd		270
	310,680		Yageo Corp		4,665
	30,000		Zhen Ding Technology Holding Ltd		67
			TOTAL TAIWAN		236,662

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

			VALUE
SHARES		COMPANY	(000)
THAILAND - 0.1%
	179,000	Advanced Info Service PCL (Foreign)	$	1,113
	758,700	Airports of Thailand PCL		1,537
	14,800	Bangkok Bank PCL (Foreign)		100
	274,800	Bangkok Dusit Medical Services PCL (Foreign)		217
	484,000	Bangkok Expressway & Metro PCL		130
	218,600	Banpu PCL (Foreign)		129
	83,100	Berli Jucker PCL		153
	360,100	BTS Group Holdings PCL		104
	24,400	Bumrungrad Hospital PCL (Foreign)		140
	92,100	Central Pattana PCL (Foreign)		236
	233,200	Charoen Pokphand Foods PCL		182
	874,900	CP Seven Eleven PCL (Foreign)		1,867
	29,600	Delta Electronics Thai PCL		64
	8,200	Electricity Generating PCL		60
	93,300	Energy Absolute PCL (Foreign)		139
	34,400	Glow Energy PCL (Foreign)		94
	266,500	Home Product Center PCL (Foreign)		130
	117,600	Indorama Ventures PCL (Foreign)		215
	976,600	IRPC PCL (Foreign)		205
	317,400	Kasikornbank PCL (Foreign)		2,139
	218,500	Krung Thai Bank PCL (Foreign)		136
	178,900	Land and Houses PCL Co Reg		64
	152,100	Minor International PCL (Foreign)		193
	272,400	PTT Exploration & Production PCL (Foreign)		1,307
	158,400	PTT Global Chemical PCL (Foreign)		398
	1,984,500	PTT PCL (Foreign)		3,351
	31,400	Robinson PCL		68
	26,000	Siam Cement PCL (Foreign)		378
	322,900	Siam Commercial Bank PCL (Foreign)		1,488
	94,100	Thai Oil PCL (Foreign)		258
	110,400	Thai Union Group PCL		61
	5,730,300	Tisco Financial Group PCL (ADR)		14,843
	625,100	TMB Bank PCL (Foreign)		44
	668,900	True Corp PCL (Foreign)		125
		TOTAL THAILAND		31,668
TURKEY - 0.0%
	386,563	Akbank TAS		443
	29,559	Anadolu Efes Biracilik Ve Malt Sanayii AS		103
	15,341	Arcelik AS		35
	47,461	Aselsan Elektronik Sanayi Ve Ticaret AS		216
	39,226	BIM Birlesik Magazalar AS		528
	4,428	Coca-Cola Icecek AS		25
	97,819	Emlak Konut Gayrimenkul Yatiri		29
	254,486	Eregli Demir ve Celik Fabrikalari TAS		464
	4,695	Ford Otomotiv Sanayi AS		51
	159,567	Haci Omer Sabanci Holding AS		201
	135,550	KOC Holding AS		383
	59,848	Petkim Petrokimya Holding		53
	12,926	TAV Havalimanlari Holding AS		67

235

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	6,744		Tofas Turk Otomobil Fabrik	$	24
	28,286		Tupras Turkiye Petrol Rafine		628
	92,886	*	Turk Hava Yollari		293
	46,348		Turk Sise ve Cam Fabrikalari AS		45
	194,739		Turkcell Iletisim Hizmet AS		371
	400,144		Turkiye Garanti Bankasi AS		510
	95,463		Turkiye Halk Bankasi AS		106
	252,493		Turkiye Is Bankasi (Series C)		185
	64,506		Turkiye Vakiflar Bankasi Tao		40
	9,131	*	Ulker Biskuvi Sanayi AS		26
	94,532	*	Yapi ve Kredi Bankasi		29
			TOTAL TURKEY		4,855
UNITED ARAB EMIRATES - 0.1%
	352,540	*	Abu Dhabi Commercial Bank PJSC		763
	266,629		Aldar Properties PJSC		133
	114,535	*	DAMAC Properties Dubai Co PJSC		64
	29,576		DP World Ltd		565
	140,271	*	Dubai Investments PJSC		72
	116,273	*	Dubai Islamic Bank PJSC		170
	56,893	*	Emaar Development PJSC		81
	126,624	*	Emaar Malls Group PJSC		63
	628,179		Emaar Properties PJSC		847
	313,200	*	Emirates Telecommunications Group Co PJSC		1,424
	255,899		National Bank of Abu Dhabi PJSC		999
	317,639		NMC Health plc		14,041
			TOTAL UNITED ARAB EMIRATES		19,222
UNITED KINGDOM - 5.0%
	41,574		3i Group plc		509
	95,500	*	accesso Technology Group plc		3,647
	8,105		Admiral Group plc		220
	1,888,181		Ashtead Group plc		59,909
	267,602	*,e	ASOS plc		20,066
	365,716		Associated British Foods plc		10,915
	1,237,971		AstraZeneca plc		96,493
	42,142	g	Auto Trader Group plc		245
	1,013,376		Aviva plc		6,466
	4,527,607		B&M European Value Retail S.A.		22,818
	11,150	e	Babcock International Group		105
	136,586		BAE Systems plc		1,120
	727,739		Barclays plc		1,614
	43,209		Barratt Developments plc		319
	1,028,700		Beazley plc		7,649
	153,000	*	Belmond Ltd.		2,792
	251,518		Berkeley Group Holdings plc		12,049
	69,580		Big Yellow Group plc		830
	199,121	*	Blue Prism Group plc		6,160
	4,861,800	*	boohoo.com plc		14,766
	3,330,574		BP plc		25,528
	1,554,959		British American Tobacco plc		72,493
	206,380		British Land Co plc		1,660
	279,412		Britvic plc		2,844

236

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	360,734		BT Group plc	$	1,059
	14,362		Bunzl plc		452
	17,780		Burberry Group plc		467
	23,193		Capital & Counties Properties		80
	236,299		Centrica plc		477
	4,357,076		CNH Industrial NV		52,287
	9,321		Coca-Cola European Partners plc (Class A)		424
	67,449		Compass Group plc		1,500
	56,323	g	ConvaTec Group plc		170
	5,772		Croda International plc		391
	3,678		DCC plc		334
	358,800		Dechra Pharmaceuticals plc		10,179
	464,815		Delphi Automotive plc		38,998
	34,790		Derwent London plc		1,295
	1,634,167		Diageo plc		57,895
	55,973		Direct Line Insurance Group plc		236
	6,451		easyJet plc		110
	3,207,457		Electrocomponents plc		30,006
	39,780		Experian Group Ltd		1,021
	100,849	*	Farfetch Ltd		2,746
	739,113		Fevertree Drinks plc		34,727
	45,967	*	Fiat DaimlerChrysler Automobiles NV		804
	859,427		GlaxoSmithKline plc		17,236
	139,960		Great Portland Estates plc		1,219
	66,705		Group 4 Securicor plc		210
	23,139		GVC Holdings plc		277
	150,449		Hammerson plc		895
	11,579		Hargreaves Lansdown plc		337
	1,543,846		HSBC Holdings plc		13,471
	40,831		Imperial Tobacco Group plc		1,421
	1,513,973		Inchcape plc		13,183
	53,194		Informa plc		528
	7,775		InterContinental Hotels Group plc		484
	26,523		International Consolidated Airlines Group S.A.		228
	6,645		Intertek Group plc		432
	28,991	e	Intu Properties plc		58
	156,763		ITV plc		322
	73,292		J Sainsbury plc		307
	29,062		John Wood Group plc		292
	8,421		Johnson Matthey plc		391
	1,426,714	*	Just Eat plc		12,452
	94,142		Kingfisher plc		318
	148,242		Land Securities Group plc		1,707
	3,196,800		Learning Technologies Group plc		6,938
	4,798,246		Legal & General Group plc		16,380
	11,605	*	Liberty Global plc		327
	151,666	*	Liberty Global plc (Class A)		4,388
	3,070,964		Lloyds TSB Group plc		2,362
	110,826		London Stock Exchange Group plc		6,623
	6,076,781		Man Group plc		13,940
	69,025		Marks & Spencer Group plc		260
	33,431		Meggitt plc		247
	206,855		Melrose Industries plc		538

237

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	30,976	g	Merlin Entertainments plc	$	162
	18,619		Micro Focus International plc		346
	604,417		Mondi plc		16,549
	144,907		National Grid plc		1,497
	185,145		Next plc		13,250
	347,286	*,e	Old Mutual Ltd		744
	33,005		Pearson plc		382
	3,431		Pentair plc		149
	13,040		Persimmon plc		401
	3,372,794		Prudential plc		77,332
	2,668,208	*,e	Purplebricks Group plc		7,971
	100,569		Reckitt Benckiser Group plc		9,187
	946,232		Redrow plc		7,192
	1,000,728	*	RELX plc		21,024
	153,042		RELX plc (London)		3,219
	2,274,620		Rightmove plc		13,959
	71,536		Rolls-Royce Group plc		920
	204,797	*	Royal Bank of Scotland Group plc		664
	37,844		Royal Mail plc		235
	41,712		RSA Insurance Group plc		312
	57,983		Safestore Holdings plc		393
	47,083		Sage Group plc		360
	5,495		Schroders plc		221
	43,274		Scottish & Southern Energy plc		646
	176,524		Segro plc		1,469
	9,588		Severn Trent plc		231
	17,395		Shaftesbury plc		206
	121,968		Shire Ltd		7,369
	43,555		Sky plc		982
	38,305		Smith & Nephew plc		699
	17,423		Smiths Group plc		339
	23,245		St. James’s Place plc		346
	119,616		Standard Chartered plc		991
	114,191		Standard Life plc		455
	4,042,667		Taylor Wimpey plc		9,036
	9,271		TechnipFMC plc (Euro OTC)		290
	19,037,766		Tesco plc		59,522
	11,050		Travis Perkins plc		153
	535,578		Unilever NV		29,791
	259,611		Unilever plc		14,261
	29,702		United Utilities Group plc		273
	1,991,100		Vesuvius plc		16,722
	11,256,905		Vodafone Group plc		24,119
	9,860		Weir Group plc		226
	138,029		Whitbread plc		8,484
	97,431		WM Morrison Supermarkets plc		329
	542,031		WPP plc		7,938
			TOTAL UNITED KINGDOM		1,085,992
UNITED STATES - 57.5%
	96,156		3M Co		20,261
	3,006		A.O. Smith Corp		160
	1,233,100		Abbott Laboratories		90,460

238

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	164,320		AbbVie, Inc	$	15,541
	354,695		Abercrombie & Fitch Co (Class A)		7,491
	881	*	Abiomed, Inc		396
	140,277		Accenture plc		23,875
	14,926		Activision Blizzard, Inc		1,242
	855		Acuity Brands, Inc		134
	10,302	*	Adobe Systems, Inc		2,781
	1,564		Advance Auto Parts, Inc		263
	19,328	*	Advanced Micro Devices, Inc		597
	15,258		AES Corp		214
	269,548		Aetna Inc		54,678
	1,090		Affiliated Managers Group, Inc		149
	16,301		Aflac, Inc		767
	172,471		AGCO Corp		10,485
	103,762		Agilent Technologies, Inc		7,319
	10,495		AGNC Investment Corp		196
	11,596		Agree Realty Corp		616
	199,788		Air Products & Chemicals, Inc		33,375
	3,576	*	Akamai Technologies, Inc		262
	2,139		Albemarle Corp		213
	17,137		Alexandria Real Estate Equities, Inc		2,156
	455,099	*	Alexion Pharmaceuticals, Inc		63,263
	7,350	*	Align Technology, Inc		2,875
	3,240	*	Alkermes plc		138
	7,762		Alleghany Corp		5,065
	1,960		Allegion plc		178
	630,495		Allergan plc		120,097
	1,028		Alliance Data Systems Corp		243
	155,627		Alliant Energy Corp		6,625
	321,719		Allison Transmission Holdings, Inc		16,733
	177,996		Allstate Corp		17,568
	9,039		Ally Financial, Inc		239
	8,889	*	Alnylam Pharmaceuticals, Inc		778
	193,745	*	Alphabet, Inc (Class A)		233,866
	177,882	*	Alphabet, Inc (Class C)		212,297
	71		Altra Holdings, Inc		3
	221,762		Altria Group, Inc		13,374
	244,066	*	Amazon.com, Inc		488,864
	151,803	*	AMC Networks, Inc		10,071
	167		Amerco, Inc		60
	5,001		Ameren Corp		316
	2,604		American Airlines Group, Inc		108
	10,289		American Electric Power Co, Inc		729
	520,162		American Express Co		55,392
	134,106		American Financial Group, Inc		14,882
	50,000		American Homes 4 Rent		1,095
	1,058,066		American International Group, Inc		56,331
	30,737		American Tower Corp		4,466
	3,592		American Water Works Co, Inc		316
	114,369		Ameriprise Financial, Inc		16,888
	20,868		AmerisourceBergen Corp		1,924
	4,719		Ametek, Inc		373
	84,331		Amgen, Inc		17,481

239

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	6,405		Amphenol Corp (Class A)	$	602
	493,944		Anadarko Petroleum Corp		33,297
	7,603		Analog Devices, Inc		703
	3,092		Andeavor		475
	23,748		Annaly Capital Management, Inc		243
	1,746	*	Ansys, Inc		326
	4,343	*	Antero Resources Corp		77
	222,954		Anthem, Inc		61,101
	5,167		Aon plc		795
	7,940		Apache Corp		379
	11,596		Apartment Investment & Management Co (Class A)		512
	2,433,451		Apple, Inc		549,327
	456,793		Applied Materials, Inc		17,655
	4,807		ARAMARK Holdings Corp		207
	8,218	*	Arch Capital Group Ltd		245
	11,736		Archer Daniels Midland Co		590
	9,075		Arconic, Inc		200
	1,104	*	Arista Networks, Inc		294
	1,590	*	Arrow Electronics, Inc		117
	3,654		Arthur J. Gallagher & Co		272
	79,484	*	Asbury Automotive Group, Inc		5,465
	54,972		Ashland Global Holdings, Inc		4,610
	61,629		Associated Banc-Corp		1,602
	1,156		Assurant, Inc		125
	1,204,112		AT&T, Inc		40,434
	175,200	*	Athene Holding Ltd		9,051
	2,408		Atmos Energy Corp		226
	4,594	*	Autodesk, Inc		717
	9,252		Automatic Data Processing, Inc		1,394
	570	*	AutoZone, Inc		442
	19,445		AvalonBay Communities, Inc		3,522
	1,952		Avery Dennison Corp		212
	2,684		Avnet, Inc		120
	444,220		AXA Equitable Holdings, Inc		9,529
	65,929	*	Axalta Coating Systems Ltd		1,922
	1,827		Axis Capital Holdings Ltd		105
	8,770		Baker Hughes a GE Co		297
	6,870		Ball Corp		302
	5,452,850		Bank of America Corp		160,641
	176,538		Bank of New York Mellon Corp		9,002
	12,917	*	Bausch Health Cos, Inc		332
	691,875		Baxter International, Inc		53,337
	122,542		BB&T Corp		5,948
	41,933		Becton Dickinson & Co		10,945
	1,206,763		Bed Bath & Beyond, Inc		18,101
	315,026	*	Berkshire Hathaway, Inc (Class B)		67,450
	439,784	*	Berry Plastics Group, Inc		21,281
	202,875		Best Buy Co, Inc		16,100
	36,078	*	Biogen Idec, Inc		12,747
	3,667	*	BioMarin Pharmaceutical, Inc		356
	2,545		BlackRock, Inc		1,200
	165,000		Blackstone Group LP		6,283
	12,756	*	Bluebird Bio, Inc		1,862

240

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	383,919		Boeing Co	$	142,779
	1,018	*	Booking Holdings, Inc		2,020
	4,207		BorgWarner, Inc		180
	37,223		Boston Properties, Inc		4,582
	1,157,796	*	Boston Scientific Corp		44,575
	2,101	*	Brighthouse Financial, Inc		93
	758,627		Bristol-Myers Squibb Co		47,096
	145,804		Broadcom, Inc		35,974
	2,436		Broadridge Financial Solutions, Inc		321
	4,121		Brookfield Property REIT, Inc		86
	5,623		Brown-Forman Corp (Class B)		284
	145,005		Bunge Ltd		9,963
	800,200		Burford Capital Ltd		20,252
	71,817	*	Burlington Stores, Inc		11,700
	6,327		CA, Inc		279
	9,886		Cabot Oil & Gas Corp		223
	183,569	*	CACI International, Inc (Class A)		33,804
	298,973		Cadence BanCorp		7,809
	5,950	*	Cadence Design Systems, Inc		270
	18,322		Camden Property Trust		1,714
	3,788	e	Campbell Soup Co		139
	55,628		Capital One Financial Corp		5,281
	6,586		Cardinal Health, Inc		356
	3,877	*	CarMax, Inc		290
	8,948		Carnival Corp		571
	8,077		Carnival plc		501
	763,812		Caterpillar, Inc		116,474
	2,140		CBOE Holdings, Inc		205
	6,507	*	CBRE Group, Inc		287
	715,503		CBS Corp (Class B)		41,106
	2,841		CDK Global, Inc		178
	526,506		CDW Corp		46,817
	2,850		Celanese Corp (Series A)		325
	93,446	*	Celgene Corp		8,362
	192,633	*	Centene Corp		27,889
	10,358		Centerpoint Energy, Inc		286
	20,383		CenturyLink, Inc		432
	6,279	*	Cerner Corp		404
	329,992		CF Industries Holdings, Inc		17,965
	2,834		CH Robinson Worldwide, Inc		278
	25,169		Charles Schwab Corp		1,237
	17,853	*	Charter Communications, Inc		5,818
	75,699		Chemed Corp		24,192
	382,196		Chemours Co		15,074
	23,279	*	Cheniere Energy, Inc		1,618
	1,207,148		Chevron Corp		147,610
	5,543	*	Chipotle Mexican Grill, Inc (Class A)		2,519
	135,814		Chubb Ltd		18,150
	5,057		Church & Dwight Co, Inc		300
	226,582		Cigna Corp		47,186
	37,294		Cimarex Energy Co		3,466
	3,044		Cincinnati Financial Corp		234
	1,935		Cintas Corp		383
	4,873,243		Cisco Systems, Inc		237,083
	2,757		CIT Group, Inc		142

241

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	904,656		Citigroup, Inc	$	64,900
	628,307		Citizens Financial Group, Inc		24,234
	2,836	*	Citrix Systems, Inc		315
	2,683		Clorox Co		404
	18,399		CME Group, Inc		3,132
	5,915		CMS Energy Corp		290
	3,280,098	n	Coca-Cola Co		151,508
	3,710		Cognex Corp		207
	12,290		Cognizant Technology Solutions Corp (Class A)		948
	197,923	*	Colfax Corp		7,137
	17,417		Colgate-Palmolive Co		1,166
	1,773,290		Comcast Corp (Class A)		62,792
	457,300		Comerica, Inc		41,248
	4,121	*	CommScope Holding Co, Inc		127
	849,342		ConAgra Foods, Inc		28,852
	742,247	*	Concho Resources, Inc		113,378
	24,721		ConocoPhillips		1,913
	6,403		Consolidated Edison, Inc		488
	30,484		Constellation Brands, Inc (Class A)		6,573
	64,121	*	Continental Resources, Inc		4,378
	5,567		Cooper Cos, Inc		1,543
	4,422	*	Copart, Inc		228
	322,365		Corning, Inc		11,379
	720	*	CoStar Group, Inc		303
	519,096		Costco Wholesale Corp		121,925
	15,538		Coty, Inc		195
	42,580	*	Credit Acceptance Corp		18,653
	60,000	*	Cree, Inc		2,272
	94,191		Crown Castle International Corp		10,486
	1,291,311	*	Crown Holdings, Inc		61,983
	702,120		CSX Corp		51,992
	16,235		CubeSmart		463
	3,284		Cummins, Inc		480
	882,722		CVS Health Corp		69,488
	126,054		Danaher Corp		13,697
	2,455		Darden Restaurants, Inc		273
	3,026	*	DaVita, Inc		217
	37,689		DDR Corp		505
	117,053	*	Deckers Outdoor Corp		13,880
	110,666		Deere & Co		16,636
	117,708		Delek US Holdings, Inc		4,994
	4,314	*	Dell Technologies, Inc-VMware Inc		419
	52,637		Delta Air Lines, Inc		3,044
	208,171		Deluxe Corp		11,853
	4,799		Dentsply Sirona, Inc		181
	10,984		Devon Energy Corp		439
	279,027		Diamondback Energy, Inc		37,722
	40,588		DiamondRock Hospitality Co		474
	4,288		Digital Realty Trust, Inc		482
	7,445		Discover Financial Services		569
	3,469	*	Discovery, Inc (Class A)		111
	6,575	*	Discovery, Inc (Class C)		194
	22,268	*	DISH Network Corp (Class A)		796
	192,783		Dollar General Corp		21,071
	4,837	*	Dollar Tree, Inc		394

242

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	197,114		Dominion Resources, Inc	$	13,853
	862		Domino’s Pizza, Inc		254
	3,288		Dover Corp		291
	1,827,453		DowDuPont, Inc		117,523
	6,776		DR Horton, Inc		286
	3,871		DTE Energy Co		422
	14,531		Duke Energy Corp		1,163
	222,054		Duke Realty Corp		6,300
	51,089		Dun & Bradstreet Corp		7,281
	1,208,272		DXC Technology Co		112,998
	599,217	*	E*TRADE Financial Corp		31,393
	3,161		East West Bancorp, Inc		191
	3,001		Eastman Chemical Co		287
	66,787		Eaton Corp		5,792
	2,668		Eaton Vance Corp		140
	231,771	*	eBay, Inc		7,653
	32,892		Ecolab, Inc		5,157
	33,748		Edison International		2,284
	404,647	*	Edwards Lifesciences Corp		70,449
	141,756	*,n	Electronic Arts, Inc		17,080
	659,538		Eli Lilly & Co		70,775
	160,860		EMCOR Group, Inc		12,082
	421,591		Emerson Electric Co		32,285
	321,719		Encompass Health Corp		25,078
	80,280		Entergy Corp		6,513
	1,301,205		EOG Resources, Inc		165,995
	5,427		EQT Corp		240
	2,479		Equifax, Inc		324
	3,633		Equinix, Inc		1,573
	19,714		Equity Lifestyle Properties, Inc		1,901
	39,686		Equity Residential		2,630
	11,297		Essex Property Trust, Inc		2,787
	73,036		Estee Lauder Cos (Class A)		10,614
	900		Everest Re Group Ltd		206
	5,647		Evergy, Inc		310
	6,621		Eversource Energy		407
	90,129		Exelon Corp		3,935
	261,142		Expedia, Inc		34,074
	3,873		Expeditors International of Washington, Inc		285
	46,694	*	Express Scripts Holding Co		4,436
	14,245		Extra Space Storage, Inc		1,234
	1,686,492	d	Exxon Mobil Corp		143,386
	41,270	*	F5 Networks, Inc		8,230
	1,187,847	*	Facebook, Inc		195,353
	6,022		Fastenal Co		349
	10,808		Federal Realty Investment Trust		1,367
	406,341		FedEx Corp		97,843
	6,960		Fidelity National Information Services, Inc		759
	41,298		Fifth Third Bancorp		1,153
	170,702	*	First American Corp		8,434
	11,124	*	First Data Corp		272
	3,201		First Republic Bank		307
	685,738		FirstEnergy Corp		25,489
	8,628	*	Fiserv, Inc		711
	1,883	*	FleetCor Technologies, Inc		429

243

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	561,392	*	Flextronics International Ltd	$	7,365
	2,819		Flir Systems, Inc		173
	2,588		Flowserve Corp		142
	2,805		Fluor Corp		163
	2,768		FMC Corp		241
	5,918		FNF Group		233
	77,708		Ford Motor Co		719
	144,926	*	Fortinet, Inc		13,372
	203,597		Fortive Corp		17,143
	3,268		Fortune Brands Home & Security, Inc		171
	30,000		Four Corners Property Trust, Inc		771
	6,913		Franklin Resources, Inc		210
	2,447,564		Freeport-McMoRan Copper & Gold, Inc (Class B)		34,070
	348,286		Gaming and Leisure Properties, Inc		12,277
	4,947		Gap, Inc		143
	2,506		Garmin Ltd		176
	1,930	*	Gartner, Inc		306
	83,243		General Dynamics Corp		17,042
	555,731		General Electric Co		6,274
	12,427		General Mills, Inc		533
	126,443		General Motors Co		4,257
	18,159,000	*,†,m	General Motors Co		0
	13,592,224	*,†,m	General Motors Co		0
	29,845,445	*,†,m	General Motors Co		0
	69,850,000	*,†,m	General Motors Co		0
	61,921,000	*,†,e,m	General Motors Co		0
	19,417,463	*,†,m	General Motors Co		0
	530,757	*,†,m	General Motors Co		0
	26,439,985	*,†,m	General Motors Co		0
	4,461,000	*,†,m	General Motors Co		0
	18,106,794	*,†,m	General Motors Co		0
	487,720		Gentex Corp		10,466
	2,948		Genuine Parts Co		293
	928,185		Gilead Sciences, Inc		71,665
	3,347		Global Payments, Inc		426
	39,093	*	GoDaddy, Inc		3,260
	411,552		Goldman Sachs Group, Inc		92,286
	5,117		Goodyear Tire & Rubber Co		120
	89,009	*	Green Dot Corp		7,906
	299,106	*	GreenSky, Inc		5,384
	850,000	*	Groupon, Inc		3,205
	70,935	*	GrubHub, Inc		9,833
	4,372		H&R Block, Inc		113
	103,691		Halliburton Co		4,203
	128,093		Hanesbrands, Inc		2,361
	3,557		Harley-Davidson, Inc		161
	2,488		Harris Corp		421
	7,264		Hartford Financial Services Group, Inc		363
	2,235		Hasbro, Inc		235
	234,489		HCA Holdings, Inc		32,622
	61,965		HCP, Inc		1,631
	355,152	*	HD Supply Holdings, Inc		15,197
	17,395		Healthcare Trust of America, Inc		464
	2,455		Helmerich & Payne, Inc		169
	3,378	*	Henry Schein, Inc		287

244

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	2,903		Hershey Co	$	296
	5,996		Hess Corp		429
	732,658		Hewlett Packard Enterprise Co		11,950
	129,006		Hilltop Holdings, Inc		2,602
	369,031	*	Hilton Grand Vacations, Inc		12,215
	5,981		Hilton Worldwide Holdings, Inc		483
	3,391		HollyFrontier Corp		237
	23,690	*	Hologic, Inc		971
	716,258		Home Depot, Inc		148,373
	762,129		Honeywell International, Inc		126,818
	5,947		Hormel Foods Corp		234
	96,097		Host Marriott Corp		2,028
	798,767		HP, Inc		20,584
	40,588		Hudson Pacific Properties		1,328
	89,261		Humana, Inc		30,217
	2,670,460		Huntington Bancshares, Inc		39,843
	60,701		Huntington Ingalls		15,544
	408,344		Huntsman Corp		11,119
	13,581	*	IAC/InterActiveCorp		2,943
	1,631		IDEX Corp		246
	1,778	*	Idexx Laboratories, Inc		444
	7,992	*	IHS Markit Ltd		431
	6,442		Illinois Tool Works, Inc		909
	47,402	*	Illumina, Inc		17,399
	119,452	*	Imax Corp		3,082
	3,707	*	Incyte Corp		256
	255,772		Ingersoll-Rand plc		26,165
	1,550		Ingredion, Inc		163
	2,076,779		Intel Corp		98,211
	36,392		IntercontinentalExchange Group, Inc		2,725
	19,244		International Business Machines Corp		2,910
	273,478		International Flavors & Fragrances, Inc		38,046
	21,999		International Paper Co		1,081
	150,841		Interpublic Group of Cos, Inc		3,450
	30,106		Intuit, Inc		6,846
	20,652	*	Intuitive Surgical, Inc		11,854
	8,110		Invesco Ltd		186
	56,408		Invitation Homes, Inc		1,292
	787	*	IPG Photonics Corp		123
	3,222	*	IQVIA Holdings, Inc		418
	5,635		Iron Mountain, Inc		195
	25,000		iShares Dow Jones US Real Estate Index Fund		2,001
	423,636		iShares MSCI Canada Index Fund		12,192
	97,853		iShares MSCI South Korea Index Fund		6,680
	83,000		ITT, Inc		5,085
	2,369		J.M. Smucker Co		243
	1,545		Jack Henry & Associates, Inc		247
	2,445		Jacobs Engineering Group, Inc		187
	60,612	*	Jazz Pharmaceuticals plc		10,191
	134,190		JB Hunt Transport Services, Inc		15,961
	16,235		JBG SMITH Properties		598
	6,886		Jefferies Financial Group, Inc		151
	935,834		Johnson & Johnson		129,304
	19,480		Johnson Controls International plc		682
	1,078		Jones Lang LaSalle, Inc		156
	2,596,630		JPMorgan Chase & Co		293,004

245

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	322,190		Juniper Networks, Inc	$	9,656
	2,245		Kansas City Southern Industries, Inc		254
	208,171		KAR Auction Services, Inc		12,426
	5,379		Kellogg Co		377
	77,000		Kennametal, Inc		3,354
	22,447		Keycorp		446
	3,999	*	Keysight Technologies, Inc		265
	19,714		Kilroy Realty Corp		1,413
	40,859		Kimberly-Clark Corp		4,643
	9,251		Kimco Realty Corp		155
	41,719		Kinder Morgan, Inc		740
	137,632		Kla-Tencor Corp		13,999
	2,917		Knight-Swift Transportation Holdings, Inc		101
	489,068		Kohl’s Corp		36,460
	246,021		Korn/Ferry International		12,114
	973,819		Kraft Heinz Co		53,667
	104,257		Kroger Co		3,035
	5,012		L Brands, Inc		152
	1,636		L3 Technologies, Inc		348
	74,630	*	Laboratory Corp of America Holdings		12,962
	178,814		Lam Research Corp		27,126
	782,014		Las Vegas Sands Corp		46,397
	220,472		Lazard Ltd (Class A)		10,611
	153,396		Lear Corp		22,242
	2,875		Leggett & Platt, Inc		126
	179,069		Leidos Holdings, Inc		12,384
	5,892		Lennar Corp (Class A)		275
	848		Lennox International, Inc		185
	2,318	*	Liberty Broadband Corp (Class C)		195
	4,478	*	Liberty Media Group (Class C)		167
	2,930		Liberty Property Trust		124
	2,168	*	Liberty SiriusXM Group (Class A)		94
	3,662	*	Liberty SiriusXM Group (Class C)		159
	4,720		Lincoln National Corp		319
	3,032	*	Live Nation, Inc		165
	5,953	*	LKQ Corp		189
	5,421		Lockheed Martin Corp		1,875
	5,590		Loews Corp		281
	55,126		Lowe’s Companies, Inc		6,330
	195,088		LPL Financial Holdings, Inc		12,585
	106,509	*	Lululemon Athletica, Inc		17,307
	113,573		LyondellBasell Industries AF S.C.A		11,642
	183,746		M&T Bank Corp		30,234
	2,427		Macerich Co		134
	6,532		Macy’s, Inc		227
	1,365		Manpower, Inc		117
	17,015		Marathon Oil Corp		396
	82,336		Marathon Petroleum Corp		6,584
	292	*	Markel Corp		347
	6,274		Marriott International, Inc (Class A)		828
	97,640		Marsh & McLennan Cos, Inc		8,077
	1,357		Martin Marietta Materials, Inc		247
	1,349,609		Marvell Technology Group Ltd		26,047
	6,584		Masco Corp		241
	236,558	*	Mastec, Inc		10,562
	109,524		MasterCard, Inc (Class A)		24,381

246

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	224,764	*	Matador Resources Co	$	7,428
	81,006	*	Match Group, Inc		4,691
	7,221	*,e	Mattel, Inc		113
	5,841		Maxim Integrated Products, Inc		329
	2,441		McCormick & Co, Inc		322
	396,710		McDonald’s Corp		66,366
	15,923		McKesson Corp		2,112
	68,967		Medtronic plc		6,784
	23,018	*	Merrimack Pharmaceuticals, Inc		123
	35,906		Metlife, Inc		1,678
	535	*	Mettler-Toledo International, Inc		326
	265,570		MGM Growth Properties LLC		7,832
	10,072		MGM Resorts International		281
	143,272	*	Michael Kors Holdings Ltd		9,823
	4,906	e	Microchip Technology, Inc		387
	139,095	*	Micron Technology, Inc		6,291
	3,990,253		Microsoft Corp		456,365
	12,283		Mid-America Apartment Communities, Inc		1,231
	1,189	*	Middleby Corp		154
	1,345	*	Mohawk Industries, Inc		236
	167,977	*	Molina Healthcare, Inc		24,978
	71,308		Molson Coors Brewing Co (Class B)		4,385
	416,171		Mondelez International, Inc		17,879
	683,609	*	Monster Beverage Corp		39,841
	3,599		Moody’s Corp		602
	147,388		Morgan Stanley		6,864
	7,492		Mosaic Co		243
	147,239		Motorola, Inc		19,162
	1,837		MSCI, Inc (Class A)		326
	133,169	*	Mylan NV		4,874
	2,365		NASDAQ OMX Group, Inc		203
	8,001		National Oilwell Varco, Inc		345
	3,150		National Retail Properties, Inc		141
	20,000		National Storage Affiliates Trust		509
	3,569	*	Nektar Therapeutics		218
	287,596		NetApp, Inc		24,702
	35,324	*	NetFlix, Inc		13,216
	10,167		New York Community Bancorp, Inc		105
	10,396		Newell Rubbermaid, Inc		211
	4,523	*	Newfield Exploration Co		130
	55,507		Newmont Mining Corp		1,676
	8,751		News Corp		115
	65,000		Nexteer Automotive Group Ltd		103
	47,372		NextEra Energy, Inc		7,940
	7,794		Nielsen NV		216
	1,448,812		Nike, Inc (Class B)		122,743
	7,941		NiSource, Inc		198
	10,161		Noble Energy, Inc		317
	175,897		Nordstrom, Inc		10,520
	5,960		Norfolk Southern Corp		1,076
	4,522		Northern Trust Corp		462
	281,254		Northrop Grumman Corp		89,262
	4,563	*	Norwegian Cruise Line Holdings Ltd		262
	79,374		Nucor Corp		5,036
	168,221		NVIDIA Corp		47,273
	9,242	*	NVR, Inc		22,835

247

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	852,994		Occidental Petroleum Corp	$	70,091
	4,265		OGE Energy Corp		155
	1,240		Old Dominion Freight Line		200
	1,453,170		Olin Corp		37,317
	4,579		Omnicom Group, Inc		311
	8,731	*	ON Semiconductor Corp		161
	78,411		Oneok, Inc		5,315
	114,452		Oracle Corp		5,901
	1,774	*	O’Reilly Automotive, Inc		616
	2,494		Owens Corning, Inc		135
	7,296		PACCAR, Inc		498
	7,115		Packaging Corp of America		780
	1,900	*	Palo Alto Networks, Inc		428
	96,099		Park Hotels & Resorts, Inc		3,154
	211,891		Parker-Hannifin Corp		38,973
	292,941	*	Parsley Energy, Inc		8,569
	6,799		Paychex, Inc		501
	1,868,151	*	PayPal Holdings, Inc		164,098
	12,000	e	Pebblebrook Hotel Trust		436
	1,018,246	*	Penn National Gaming, Inc		33,521
	7,968		People’s United Financial, Inc		136
	166,139		PepsiCo, Inc		18,574
	2,627		Perrigo Co plc		186
	2,022,216		Pfizer, Inc		89,119
	54,064		PG&E Corp		2,487
	160,796		Philip Morris International, Inc		13,111
	63,291		Phillips 66		7,134
	201,324		Pinnacle West Capital Corp		15,941
	48,295		Pioneer Natural Resources Co		8,413
	416,650		Plains All American Pipeline LP		10,420
	129,169		Plains GP Holdings LP		3,169
	98,295		PNC Financial Services Group, Inc		13,387
	1,391		Polaris Industries, Inc		140
	157,993		PPG Industries, Inc		17,242
	71,070		PPL Corp		2,080
	48,838		Praxair, Inc		7,850
	6,067		Principal Financial Group		355
	1,263,029		Procter & Gamble Co		105,122
	400,566		Progressive Corp		28,456
	103,171		Prologis, Inc		6,994
	83,600	*	Proofpoint, Inc		8,889
	515,717		Prudential Financial, Inc		52,252
	10,598		Public Service Enterprise Group, Inc		559
	12,283		Public Storage, Inc		2,477
	498,157		Pulte Homes, Inc		12,339
	1,615		PVH Corp		233
	15,199	*	QIAGEN NV (Turquoise)		576
	2,752	*	Qorvo, Inc		212
	110,000		QTS Realty Trust, Inc		4,694
	283,434		QUALCOMM, Inc		20,416
	24,744		Quest Diagnostics, Inc		2,670
	633,719	*	Qurate Retail Group, Inc QVC Group		14,075
	1,131		Ralph Lauren Corp		156
	101,137		Raymond James Financial, Inc		9,310
	38,059		Raytheon Co		7,865
	13,770		Realty Income Corp		783

248

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	3,703	*	Red Hat, Inc	$	505
	38,193		Regency Centers Corp		2,470
	1,642	*	Regeneron Pharmaceuticals, Inc		663
	24,302		Regions Financial Corp		446
	1,342		Reinsurance Group of America, Inc (Class A)		194
	4,820		Republic Services, Inc		350
	2,817		Resmed, Inc		325
	34,790		Retail Opportunities Investment Corp		650
	81,177	*	Retrophin, Inc		2,332
	98,572		Rexford Industrial Realty, Inc		3,150
	2,753		Robert Half International, Inc		194
	53,485		Rockwell Automation, Inc		10,030
	3,474		Rockwell Collins, Inc		488
	2,130		Rollins, Inc		129
	76,906		Roper Industries, Inc		22,780
	8,023		Ross Stores, Inc		795
	3,519		Royal Caribbean Cruises Ltd		457
	5,291		S&P Global, Inc		1,034
	4,917		Sabre Corp		128
	861,103	*	salesforce.com, Inc		136,941
	2,394	*	SBA Communications Corp		385
	2,934		SCANA Corp		114
	1,899,477		Schering-Plough Corp		134,749
	868,076		Schlumberger Ltd		52,883
	5,769		Seagate Technology, Inc		273
	3,815		Sealed Air Corp		153
	31,143	*	Seattle Genetics, Inc		2,402
	2,700		SEI Investments Co		165
	113,035		Sempra Energy		12,858
	3,595	*	Sensata Technologies Holding plc		178
	420,807	*	ServiceNow, Inc		82,322
	1,759		Sherwin-Williams Co		801
	1,183		Signature Bank		136
	61,084		Simon Property Group, Inc		10,797
	33,062	e	Sirius XM Holdings, Inc		209
	3,868		Skyworks Solutions, Inc		351
	24,928		SL Green Realty Corp		2,431
	1,263		Snap-On, Inc		232
	207,281	*,e	SolarEdge Technologies, Inc		7,804
	45,157		Southern Co		1,969
	1,219,903		Southwest Airlines Co		76,183
	2,529		Spirit Aerosystems Holdings, Inc (Class A)		232
	2,964	*	Splunk, Inc		358
	76,589	*	Sprint Corp		501
	6,008	*	Square, Inc		595
	4,507		SS&C Technologies Holdings, Inc		256
	199,392		Stanley Works		29,199
	114,446		Starbucks Corp		6,505
	28,991		Starwood Property Trust, Inc		624
	122,038		State Street Corp		10,224
	5,154		Steel Dynamics, Inc		233
	1,828	*	Stericycle, Inc		107
	84,498		STERIS Plc		9,667
	7,028		Stryker Corp		1,249
	22,000		Sun Communities, Inc		2,234
	52,185		Sunstone Hotel Investors, Inc		854

249

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	699,002		SunTrust Banks, Inc	$	46,686
	43,775	*	SVB Financial Group		13,607
	12,107		Symantec Corp		258
	572,361		Synchrony Financial		17,789
	278,231	*	Synopsys, Inc		27,436
	10,428		Sysco Corp		764
	5,171		T Rowe Price Group, Inc		565
	74,992	*	Take-Two Interactive Software, Inc		10,348
	5,719		Tapestry, Inc		287
	4,542		Targa Resources Investments, Inc		256
	564,083		Target Corp		49,758
	5,935		TD Ameritrade Holding Corp		314
	441,325		TE Connectivity Ltd		38,806
	956		Teleflex, Inc		254
	185,090	*	Tenet Healthcare Corp		5,268
	515,718		Terex Corp		20,582
	16,235		Terreno Realty Corp		612
	100,000	*,e	TESARO, Inc		3,901
	2,653	*,e	Tesla, Inc		702
	170,322		Tetra Tech, Inc		11,633
	55,658		Texas Instruments, Inc		5,972
	1,322,289		Textron, Inc		94,504
	45,877		Thermo Fisher Scientific, Inc		11,198
	2,462		Tiffany & Co		318
	13,215		TJX Companies, Inc		1,480
	72,632	*	T-Mobile US, Inc		5,097
	3,178		Toll Brothers, Inc		105
	141,935	*	TopBuild Corp		8,065
	2,394		Torchmark Corp		208
	126,552		Total System Services, Inc		12,496
	2,490		Tractor Supply Co		226
	38,829	*	TransDigm Group, Inc		14,456
	1,250,614	*,e	Transocean Ltd (NYSE)		17,446
	3,859		TransUnion		284
	5,747		Travelers Cos, Inc		745
	562,300		Travelport Worldwide Ltd		9,486
	120,470	*	Trimble Navigation Ltd		5,236
	2,421	*	TripAdvisor, Inc		124
	568,199		Tronox Ltd		6,790
	22,032		Twenty-First Century Fox, Inc		1,021
	9,029		Twenty-First Century Fox, Inc (Class B)		414
	14,213	*	Twitter, Inc		405
	6,104		Tyson Foods, Inc (Class A)		363
	5,860		UDR, Inc		237
	3,692		UGI Corp		205
	83,325	*	Ulta Beauty, Inc		23,508
	4,343	*	Under Armour, Inc		85
	779,755	*	Under Armour, Inc (Class A)		16,546
	1,032,652		Union Pacific Corp		168,147
	1,594	*	United Continental Holdings, Inc		142
	66,190		United Parcel Service, Inc (Class B)		7,728
	190,981	*	United Rentals, Inc		31,244
	15,943		United Technologies Corp		2,229
	867	*	United Therapeutics Corp		111
	782,577		UnitedHealth Group, Inc		208,197
	1,854		Universal Health Services, Inc (Class B)		237

250

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	4,675		UnumProvident Corp	$	183
	268,246	*	Urban Outfitters, Inc		10,971
	32,721		US Bancorp		1,728
	60,965	*	USANA Health Sciences, Inc		7,349
	862		Vail Resorts, Inc		237
	146,398		Valero Energy Corp		16,653
	915,465		Vanguard Emerging Markets ETF		37,534
	50,000		Vanguard FTSE Developed Markets ETF		2,164
	1,809	*	Varian Medical Systems, Inc		202
	2,385	*	Veeva Systems, Inc		260
	30,584		Ventas, Inc		1,663
	22,826		VEREIT, Inc		166
	41,444	*	VeriSign, Inc		6,636
	3,256	*	Verisk Analytics, Inc		393
	815,809		Verizon Communications, Inc		43,556
	45,603	*	Vertex Pharmaceuticals, Inc		8,790
	7,003		VF Corp		654
	162,744		Viacom, Inc (Class B)		5,494
	292,998	e	Virtu Financial, Inc		5,992
	1,241,101		Visa, Inc (Class A)		186,277
	34,026	*	Vistra Energy Corp		847
	61,818	*	VMware, Inc (Class A)		9,647
	3,583		Vornado Realty Trust		262
	176,856		Voya Financial, Inc		8,784
	2,639		Vulcan Materials Co		293
	2,070		W.R. Berkley Corp		165
	98,117		W.W. Grainger, Inc		35,068
	1,037	*	WABCO Holdings, Inc		122
	1,861		Wabtec Corp		195
	62,599		Walgreens Boots Alliance, Inc		4,563
	737,050		Walmart, Inc		69,216
	510,707		Walt Disney Co		59,722
	5,362		Waste Connections, Inc		428
	221,739		Waste Management, Inc		20,036
	1,677	*	Waters Corp		326
	6,603		WEC Energy Group, Inc		441
	146,316	*	Weight Watchers International, Inc		10,533
	49,016	*	WellCare Health Plans, Inc		15,709
	640,509		Wells Fargo & Co		33,665
	37,608		Welltower, Inc		2,419
	206,312		Western Digital Corp		12,078
	10,381		Western Union Co		198
	95,099		Westlake Chemical Corp		7,904
	5,108		WestRock Co		273
	38,460		Weyerhaeuser Co		1,241
	1,523		Whirlpool Corp		181
	275,351		Williams Cos, Inc		7,487
	145,707	e	Williams-Sonoma, Inc		9,576
	2,724		Willis Towers Watson plc		384
	2,962	*	Workday, Inc		432
	61,166	*	Worldpay, Inc		6,194
	120,000	*	WPX Energy, Inc		2,414
	233,170		WR Grace and Co		16,662
	405,519	n	Wynn Resorts Ltd		51,525
	10,529		Xcel Energy, Inc		497
	4,624		Xerox Corp		125

251

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	5,302		Xilinx, Inc	$	425
	2,551	*	XPO Logistics, Inc		291
	3,565		Xylem, Inc		285
	34,327		Yum! Brands, Inc		3,121
	4,302	*	Zayo Group Holdings, Inc		149
	56,454	*	Zebra Technologies Corp (Class A)		9,983
	2,330	*	Zillow Group, Inc (Class C)		103
	424,260		Zimmer Biomet Holdings, Inc		55,777
	788,542		Zions Bancorporation		39,545
	419,591		Zoetis, Inc		38,418
	95,135	*	Zscaler, Inc		3,880
			TOTAL UNITED STATES		12,426,837
URUGUAY - 0.1%
	4,263,043	e	Arcos Dorados Holdings, Inc		26,644
			TOTAL URUGUAY		26,644
ZAMBIA - 0.1%
	1,017,072		First Quantum Minerals Ltd		11,583
			TOTAL ZAMBIA		11,583
			TOTAL COMMON STOCKS		21,113,329
			(Cost $18,476,936)
RIGHTS / WARRANTS - 0.0%
CANADA - 0.0%
	816	m	Aurora Cannabis, Inc		2
			TOTAL CANADA		2
THAILAND - 0.0%
	90,178	m	BTS Group Holdings PCL		0
			TOTAL THAILAND		0
			TOTAL RIGHTS / WARRANTS		2
			(Cost $4)

252

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
SHORT-TERM INVESTMENTS - 2.9%
TREASURY DEBT - 2.0%
$	147,400,000		United States Treasury Bill	1.923%-1.955	%	10/04/18	$	147,375
	121,980,000		United States Treasury Bill	1.963		10/11/18		121,911
	132,140,000		United States Treasury Bill	1.987-1.997		10/18/18		132,011
	31,700,000		United States Treasury Bill	2.085		11/08/18		31,631
			TOTAL TREASURY DEBT					432,928
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.9%
GOVERNMENT AGENCY DEBT - 0.1%
	10,000,000		Federal National Mortgage Association (FNMA)					10,000
			TOTAL GOVERNMENT AGENCY DEBT					10,000
REPURCHASE AGREEMENT - 0.8%
	14,000,000	q	Calyon	2.240		10/01/18		14,000
	28,000,000	r	JP Morgan	2.250		10/01/18		28,000
	61,000,000	s	JP Morgan	2.260		10/01/18		61,000
	25,000,000	t	Merrill Lynch	2.270		10/01/18		25,000
	31,000,000	u	NatWest Markets	2.160		10/04/18		31,000
	20,000,000	v	Nomura	2.270		10/01/18		20,000
			TOTAL REPURCHASE AGREEMENT					179,000
VARIABLE RATE SECURITIES - 0.0%
	3,374,281	i	SLM Student Loan Trust	2.375		01/25/19		3,374
			TOTAL VARIABLE RATE SECURITIES					3,374
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					192,374
			TOTAL SHORT-TERM INVESTMENTS					625,302
			(Cost $625,310)
			TOTAL INVESTMENTS - 100.5%					21,738,633
			(Cost $19,102,250)
			OTHER ASSETS & LIABILITIES, NET - (0.5)%					(112,704	)
			NET ASSETS - 100.0%				$	21,625,929

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

*	Non-income producing
^	Amount represents less than $1,000.
†	Security is categorized as Level 3 in the fair value hierarchy.
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 $192,692,000.
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 9/30/18, the aggregate value of these securities was $188,804,000 or 0.9% of net assets.

253

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

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.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
q	Agreement with Calyon, 2.24% dated 09/28/18 to be repurchased at $14,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $14,280,000.
r	Agreement with JP Morgan, 2.25% dated 09/28/18 to be repurchased at $28,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $28,560,000.
s	Agreement with JP Morgan, 2.26% dated 09/28/18 to be repurchased at $61,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $62,220,000.
t	Agreement with Merrill Lynch, 2.27% dated 09/28/18 to be repurchased at $25,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $25,501,000.
u	Agreement with NatWest Markets, 2.16% dated 09/27/18 to be repurchased at $31,000,000 on 10/04/18, collateralized by U.S. Government Agency Securities valued at $31,620,000.
v	Agreement with Nomura, 2.27% dated 09/28/18 to be repurchased at $20,000,000 on 10/01/18, collateralized by U.S. Government Agency Securities valued at $20,400,000.

Cost amounts are in thousands. 

Futures contracts outstanding as of September 30, 2018 were as follows (notional amounts and values are in thousands) (See Note 3):

Description	Number of long (short) contracts	Expiration date		Notional amount			Value		Unrealized appreciation (depreciation)
MSCI EAFE Index	1,270		12/21/18		$	123,002	$	125,444	$	2,442
S&P 500 E Mini Index	1,547		12/21/18			223,811		225,784		1,973
Total	2,817				$	346,813	$	351,228	$	4,415

Written options outstanding as of September 30, 2018 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
Electronic Arts, Inc, Call		180	$	(3	)	$	130.00	10/19/18	$	(8	)
Electronic Arts, Inc, Put		180		(28	)		110.00	10/19/18		(7	)
Wynn Resorts Ltd, Put		200		(219	)		140.00	12/21/18		(347	)
Total		560	$	(250	)				$	(362	)

254

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

September 30, 2018

	VALUE			% OF
SECTOR	(000)			ASSETS
INFORMATION TECHNOLOGY	$	4,841,517			22.2	%
FINANCIALS		3,138,634			14.5
CONSUMER DISCRETIONARY		2,999,237			13.9
HEALTH CARE		2,760,523			12.8
INDUSTRIALS		2,453,639			11.4
ENERGY		1,469,938			6.8
CONSUMER STAPLES		1,356,693			6.3
MATERIALS		1,244,641			5.8
REAL ESTATE		310,680			1.4
TELECOMMUNICATION SERVICES		272,840			1.3
UTILITIES		264,989			1.2
SHORT-TERM INVESTMENTS		625,302			2.9
OTHER ASSETS & LIABILITES, NET		(112,704	)		(0.5	)
NET ASSETS	$	21,625,929			100.0	%

255

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2018

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.7%
AUTOMOBILES & COMPONENTS - 0.3%
	474,232		Delphi Automotive plc	$	39,788
	395,092		Gentex Corp		8,479
	177,085		Lear Corp		25,677
	14,133	*,e	Tesla, Inc		3,742
	4,074		Thor Industries, Inc		341
	2,149	*	Visteon Corp		200
			TOTAL AUTOMOBILES & COMPONENTS		78,227
BANKS - 0.5%
	994,700		Citizens Financial Group, Inc		38,365
	448,168		Comerica, Inc		40,425
	674		East West Bancorp, Inc		41
	2,911		Pinnacle Financial Partners, Inc		175
	3,450		Signature Bank		396
	63,979	*	SVB Financial Group		19,887
	157,014		Synovus Financial Corp		7,190
	3,220	*	Texas Capital Bancshares, Inc		266
	537,766		Wells Fargo & Co		28,265
	102,328	*	Western Alliance Bancorp		5,821
			TOTAL BANKS		140,831
CAPITAL GOODS - 7.8%
	98,975		3M Co		20,855
	16,012		A.O. Smith Corp		855
	44		Air Lease Corp		2
	1,125,842		Airbus SE		141,341
	8,270	e	Allegion plc		749
	1,100,955		Allison Transmission Holdings, Inc		57,261
	349		Altra Holdings, Inc		14
	176,728		Ametek, Inc		13,983
	4,624	*	Armstrong World Industries, Inc		322
	1,134,151		Boeing Co		421,791
	10,381		BWX Technologies, Inc		649
	812,591		Caterpillar, Inc		123,912
	1,568,828		CNH Industrial NV (NYSE)		18,842
	94,237		Cummins, Inc		13,765
	62,604	e	Curtiss-Wright Corp		8,603
	33,798		Deere & Co		5,081
	12,498		Donaldson Co, Inc		728
	225,721		Emerson Electric Co		17,286
	3,246	e	Equifax, Inc		424
	31,004		Fastenal Co		1,799
	940,707	e	Fortive Corp		79,207
	5,592		Fortune Brands Home & Security, Inc		293

256

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	174,592	*	Gardner Denver Holdings, Inc	$	4,948
	12,166		General Dynamics Corp		2,491
	17,795		Graco, Inc		825
	85,295		Harris Corp		14,433
	764,444	*	HD Supply Holdings, Inc		32,711
	4,329		HEICO Corp		401
	7,775		HEICO Corp (Class A)		587
	1,269		Hexcel Corp		85
	1,287,696		Honeywell International, Inc		214,273
	48,570		Hubbell, Inc		6,487
	3,808		Huntington Ingalls		975
	26,652		IDEX Corp		4,015
	34,929		Illinois Tool Works, Inc		4,929
	395,431		Ingersoll-Rand plc		40,453
	3,435		Lennox International, Inc		750
	6,414		Lincoln Electric Holdings, Inc		599
	289,849		Lockheed Martin Corp		100,276
	22,795		Masco Corp		834
	3,386	*	Middleby Corp		438
	1,686		MSC Industrial Direct Co (Class A)		149
	5,552		Nordson Corp		771
	564,433		Northrop Grumman Corp		179,134
	514,772		Parker-Hannifin Corp		94,682
	3,272	*	Quanta Services, Inc		109
	339,127		Raytheon Co		70,084
	105,404		Rockwell Automation, Inc		19,765
	2,259		Rockwell Collins, Inc		317
	491,275		Roper Industries, Inc		145,520
	233,634	*	Sensata Technologies Holding plc		11,577
	11,094		Spirit Aerosystems Holdings, Inc (Class A)		1,017
	835,431		Textron, Inc		59,708
	10,751		Toro Co		645
	135,060	*	TransDigm Group, Inc		50,283
	324,618	*	United Rentals, Inc		53,107
	164,889	*	Univar, Inc		5,055
	474,818		W.W. Grainger, Inc		169,705
	5,208	*	WABCO Holdings, Inc		614
	3,260	e	Wabtec Corp		342
	2,609		Watsco, Inc		465
	13,232	*	Welbilt, Inc		276
	10,464		Xylem, Inc		836
			TOTAL CAPITAL GOODS		2,222,433
COMMERCIAL & PROFESSIONAL SERVICES - 1.3%
	488,888	*	Cimpress NV		66,787
	9,090		Cintas Corp		1,798
	330,011	*	Copart, Inc		17,006
	109,912	*	CoStar Group, Inc		46,255
	1,509		Dun & Bradstreet Corp		215
	2,150,000		Experian Group Ltd		55,169
	1,036,428	*	IHS Markit Ltd		55,926
	408,356		KAR Auction Services, Inc		24,375
	136,154		Republic Services, Inc		9,893
	12,545		Robert Half International, Inc		883

257

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	10,120		Rollins, Inc	$	614
	360,515		TransUnion		26,527
	16,749	*	Verisk Analytics, Inc		2,019
	655,000		Waste Connections, Inc		52,249
	249,656		Waste Management, Inc		22,559
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		382,275
CONSUMER DURABLES & APPAREL - 2.2%
	446,184	*	BRP, Inc (Toronto)		20,930
	501		Brunswick Corp		34
	4,896		Carter’s, Inc		483
	146,448		Columbia Sportswear Co		13,630
	279,300	*	Deckers Outdoor Corp		33,119
	495,079		DR Horton, Inc		20,882
	35,984	e	Hanesbrands, Inc		663
	9,428		Hasbro, Inc		991
	499		Lennar Corp (B Shares)		19
	16,396		Lennar Corp (Class A)		766
	253,735	*	Lululemon Athletica, Inc		41,229
	7,721	*,e	Mattel, Inc		121
	886,588	*	Michael Kors Holdings Ltd		60,785
	1,989,983		Nike, Inc (Class B)		168,592
	14,723	*	NVR, Inc		36,378
	83,114		Polaris Industries, Inc		8,390
	4,978,600		Prada S.p.A		23,788
	1,153,901		Pulte Homes, Inc		28,582
	6,155	*	Skechers U.S.A., Inc (Class A)		172
	919,701		Sony Corp		55,907
	1,530,362		Tapestry, Inc		76,931
	366,245	*,e	Tempur Sealy International, Inc		19,374
	7,144		Toll Brothers, Inc		236
	15,529	*,e	Under Armour, Inc		302
	14,656	*,e	Under Armour, Inc (Class A)		311
	101,511		VF Corp		9,486
			TOTAL CONSUMER DURABLES & APPAREL		622,101
CONSUMER SERVICES - 1.5%
	5,122	*,e	Bright Horizons Family Solutions		604
	214,707	*	Chipotle Mexican Grill, Inc (Class A)		97,589
	3,472		Choice Hotels International, Inc		289
	6,685		Darden Restaurants, Inc		743
	4,364		Domino’s Pizza, Inc		1,287
	8,151	e	Dunkin Brands Group, Inc		601
	187,638		Extended Stay America, Inc		3,796
	4,697	*	Grand Canyon Education, Inc		530
	2,963		H&R Block, Inc		76
	8,779	*	Hilton Grand Vacations, Inc		291
	232,784		Hilton Worldwide Holdings, Inc		18,804
	329	e	International Game Technology plc		6
	630,631		Las Vegas Sands Corp		37,415
	1,217,284		Marriott International, Inc (Class A)		160,718
	110,989		McDonald’s Corp		18,567
	5,546		MGM Resorts International		155

258

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	400,000		Restaurant Brands International, Inc	$	23,712
	187,622		Service Corp International		8,293
	199,359	*	ServiceMaster Global Holdings, Inc		12,366
	7,622	e	Six Flags Entertainment Corp		532
	208,388		Starbucks Corp		11,845
	4,190		Vail Resorts, Inc		1,150
	18,564		Wendy’s		318
	9,988		Wyndham Hotels & Resorts, Inc		555
	9,672		Wyndham Worldwide Corp		419
	10,756		Wynn Resorts Ltd		1,367
	298,136		Yum China Holdings, Inc		10,468
	278,980		Yum! Brands, Inc		25,362
			TOTAL CONSUMER SERVICES		437,858
DIVERSIFIED FINANCIALS - 2.5%
	50,490		American Express Co		5,377
	200,295		Ameriprise Financial, Inc		29,576
	3,963		Capital One Financial Corp		376
	107,934		CBOE Holdings, Inc		10,357
	613,496		Charles Schwab Corp		30,153
	3,224	e	CME Group, Inc		549
	126,342	*,e	Credit Acceptance Corp		55,347
	101,334		Discover Financial Services		7,747
	618,431	*	E*TRADE Financial Corp		32,400
	11,726		Eaton Vance Corp		616
	4,044		Evercore Partners, Inc (Class A)		407
	3,907		Factset Research Systems, Inc		874
	6,961		Interactive Brokers Group, Inc (Class A)		385
	1,589,256		IntercontinentalExchange Group, Inc		119,019
	1,259,500	e	iShares Russell 1000 Growth Index Fund		196,457
	458,369		Lazard Ltd (Class A)		22,061
	302,986		LPL Financial Holdings, Inc		19,546
	3,687	e	MarketAxess Holdings, Inc		658
	17,360		Moody’s Corp		2,903
	1,763		Morningstar, Inc		222
	9,095		MSCI, Inc (Class A)		1,613
	60,067		Northern Trust Corp		6,135
	323	*	OneMain Holdings, Inc		11
	4,652		Raymond James Financial, Inc		428
	462,350		S&P Global, Inc		90,339
	888		Santander Consumer USA Holdings, Inc		18
	13,813		SEI Investments Co		844
	218,161		State Street Corp		18,277
	1,151,395		Synchrony Financial		35,785
	22,899		T Rowe Price Group, Inc		2,500
	341,915		TD Ameritrade Holding Corp		18,063
	3,746	e	Virtu Financial, Inc		77
	243,194		Voya Financial, Inc		12,079
			TOTAL DIVERSIFIED FINANCIALS		721,199
ENERGY - 0.9%
	18,142		Anadarko Petroleum Corp		1,223
	12,595	*	Antero Resources Corp		223
	2,367	e	Apache Corp		113

259

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	33,614		Cabot Oil & Gas Corp	$	757
	16,791	*	Cheniere Energy, Inc		1,167
	1,178		Cimarex Energy Co		109
	221,067	*	Concho Resources, Inc		33,768
	164,193	*	Continental Resources, Inc		11,211
	2,701	e	Diamondback Energy, Inc		365
	1,216,379		EOG Resources, Inc		155,173
	91,372		Halliburton Co		3,703
	2,731	*,e	Kosmos Energy LLC		26
	6,557	*	Newfield Exploration Co		189
	18,288		Oneok, Inc		1,240
	1,658,248	*	Parsley Energy, Inc		48,504
	9,791		Pioneer Natural Resources Co		1,705
	1,340	e	RPC, Inc		21
			TOTAL ENERGY		259,497
FOOD & STAPLES RETAILING - 0.6%
	11,808	*	Sprouts Farmers Market, Inc		324
	253,071		Sysco Corp		18,538
	757	*	US Foods Holding Corp		23
	1,604,636		Walmart, Inc		150,691
			TOTAL FOOD & STAPLES RETAILING		169,576
FOOD, BEVERAGE & TOBACCO - 2.5%
	756,757		Altria Group, Inc		45,640
	5,577		Brown-Forman Corp		283
	29,518		Brown-Forman Corp (Class B)		1,492
	100,924	e	Campbell Soup Co		3,697
	655,475		Coca-Cola Co		30,276
	579,937		Constellation Brands, Inc (Class A)		125,046
	839,159		Costco Wholesale Corp		197,102
	4,000,000		Davide Campari-Milano S.p.A		34,063
	600,000		Fevertree Drinks plc		28,191
	171,650		General Mills, Inc		7,367
	13,333		Hershey Co		1,360
	100,394		Kellogg Co		7,030
	436,286		Keurig Dr Pepper, Inc		10,109
	260,739		Kraft Heinz Co		14,369
	177,474		McCormick & Co, Inc		23,382
	2,281,493	*	Monster Beverage Corp		132,965
	528,389		PepsiCo, Inc		59,074
	3,972	*	Post Holdings, Inc		390
			TOTAL FOOD, BEVERAGE & TOBACCO		721,836
HEALTH CARE EQUIPMENT & SERVICES - 7.1%
	1,279,761		Abbott Laboratories		93,883
	83,776	*	Abiomed, Inc		37,678
	271,737		Aetna Inc		55,122
	187,217	*	Align Technology, Inc		73,243
	235,157		AmerisourceBergen Corp		21,686
	190,500		Anthem, Inc		52,207
	47,833	*	athenahealth, Inc		6,390

260

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	834,526		Baxter International, Inc	$	64,334
	2,626		Becton Dickinson & Co		685
	180,623	*	Boston Scientific Corp		6,954
	48,661		Cantel Medical Corp		4,480
	193,785	*	Centene Corp		28,056
	790,163	*	Cerner Corp		50,894
	18,007		Chemed Corp		5,755
	407,132		Cigna Corp		84,785
	824		Cooper Cos, Inc		228
	7,363	*	DaVita, Inc		527
	9,139	*	DexCom, Inc		1,307
	1,193,223	*,e	Edwards Lifesciences Corp		207,740
	551,315		Encompass Health Corp		42,975
	2,253	*	Envision Healthcare Corp		103
	386,791	*	Express Scripts Holding Co		36,749
	350,478		HCA Holdings, Inc		48,759
	2,365	*,e	Henry Schein, Inc		201
	4,706		Hill-Rom Holdings, Inc		444
	218,477		Humana, Inc		73,959
	87,283	*	ICU Medical, Inc		24,679
	20,555	*	Idexx Laboratories, Inc		5,132
	5,907	*,e	Insulet Corp		626
	5,247	*	Integra LifeSciences Holdings Corp		346
	667,991	*	Intuitive Surgical, Inc		383,427
	50,781	*	Laboratory Corp of America Holdings		8,820
	57,075	*	Masimo Corp		7,108
	2,815		McKesson Corp		373
	190,617	*	Molina Healthcare, Inc		28,345
	3,115	*	Penumbra, Inc		466
	753,683	*	Premier, Inc		34,504
	131,244		Resmed, Inc		15,138
	16,386		Straumann Holding AG.		12,345
	891,166		Stryker Corp		158,342
	947	e	Teleflex, Inc		252
	891,810		UnitedHealth Group, Inc		237,257
	9,560	*	Varian Medical Systems, Inc		1,070
	337,531	*	Veeva Systems, Inc		36,747
	261,452	*	WellCare Health Plans, Inc		83,793
	1,838		West Pharmaceutical Services, Inc		227
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		2,038,141
HOUSEHOLD & PERSONAL PRODUCTS - 0.4%
	21,674		Church & Dwight Co, Inc		1,287
	11,671		Clorox Co		1,755
	17,060		Colgate-Palmolive Co		1,142
	39,769	e	Energizer Holdings, Inc		2,332
	484,496		Estee Lauder Cos (Class A)		70,407
	367,239	*	Herbalife Ltd		20,033
	108,487		Kimberly-Clark Corp		12,328
	47,400		Nu Skin Enterprises, Inc (Class A)		3,907
	1,881	e	Spectrum Brands Holdings, Inc		141
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		113,332

261

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
INSURANCE - 0.6%
	148		Alleghany Corp	$	97
	356,500		American International Group, Inc		18,980
	25,515	e	Aon plc		3,924
	6,777	*	Arch Capital Group Ltd		202
	528	e	Axis Capital Holdings Ltd		30
	130,395	*	Berkshire Hathaway, Inc (Class B)		27,919
	780		Brown & Brown, Inc		23
	1,777		Erie Indemnity Co (Class A)		227
	1,716		Everest Re Group Ltd		392
	117	*	Markel Corp		139
	24,715		Marsh & McLennan Cos, Inc		2,044
	1,585,070		Progressive Corp		112,603
	14	e	RenaissanceRe Holdings Ltd		2
	5,686	e	Travelers Cos, Inc		738
			TOTAL INSURANCE		167,320
MATERIALS - 1.5%
	9,455		Avery Dennison Corp		1,024
	8,480	*	Axalta Coating Systems Ltd		247
	798,441	*	Berry Plastics Group, Inc		38,637
	9,280		Celanese Corp (Series A)		1,058
	417,617		Chemours Co		16,471
	13,181	*	Crown Holdings, Inc		633
	3,832		Eagle Materials, Inc		327
	12,011		Ecolab, Inc		1,883
	5,671	e	FMC Corp		494
	3,673		Graphic Packaging Holding Co		51
	1,010,300		Huntsman Corp		27,510
	375,241		International Flavors & Fragrances, Inc		52,204
	5,415		International Paper Co		266
	506,844		LyondellBasell Industries AF S.C.A		51,957
	6,036		Martin Marietta Materials, Inc		1,098
	656		NewMarket Corp		266
	120,962		Packaging Corp of America		13,268
	11,272	*	Platform Specialty Products Corp		141
	2,102		PPG Industries, Inc		229
	361,229		Praxair, Inc		58,060
	2,519		Royal Gold, Inc		194
	2,795		RPM International, Inc		182
	1,581		Scotts Miracle-Gro Co (Class A)		124
	8,793		Sealed Air Corp		353
	293,627		Sherwin-Williams Co		133,662
	1,234		Silgan Holdings, Inc		34
	8,823		Southern Copper Corp (NY)		381
	97,778	e	Steel Dynamics, Inc		4,419
	30,549		Vulcan Materials Co		3,397
	66,801	e	Westlake Chemical Corp		5,552
	232,663		WR Grace and Co		16,626
			TOTAL MATERIALS		430,748
MEDIA - 0.8%
	306,405	*,e	AMC Networks, Inc		20,327
	396		Cable One, Inc		350

262

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	265,722		CBS Corp (Class B)	$	15,266
	12,878	*	Charter Communications, Inc		4,197
	1,153,754		Comcast Corp (Class A)		40,854
	3,480		Interpublic Group of Cos, Inc		79
	214	e	Lions Gate Entertainment Corp (Class A)		5
	418	e	Lions Gate Entertainment Corp (Class B)		10
	14,400	*	Live Nation, Inc		784
	199	*	Madison Square Garden Co		63
	15,417	e	Omnicom Group, Inc		1,049
	138,495		Sirius XM Holdings, Inc		875
	1,299,594		Walt Disney Co		151,975
			TOTAL MEDIA		235,834
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.1%
	1,967,727	e	AbbVie, Inc		186,108
	5,122	*,e	Agios Pharmaceuticals, Inc		395
	734,297	*	Alexion Pharmaceuticals, Inc		102,075
	16,158	*,e	Alkermes plc		686
	175,448		Allergan plc		33,419
	8,167	*	Alnylam Pharmaceuticals, Inc		715
	241,476		Amgen, Inc		50,056
	207,778	*	Biogen Idec, Inc		73,410
	532,246	*	BioMarin Pharmaceutical, Inc		51,612
	4,002		Bio-Techne Corp		817
	3,723	*,e	Bluebird Bio, Inc		543
	90,753		Bristol-Myers Squibb Co		5,634
	168,748		Bruker BioSciences Corp		5,645
	141,014	*	Catalent, Inc		6,423
	460,533	*	Celgene Corp		41,213
	74,242	*	Charles River Laboratories International, Inc		9,988
	1,060,757		Eli Lilly & Co		113,830
	12,446	*,e	Exact Sciences Corp		982
	29,589	*	Exelixis, Inc		524
	2,606,187		Gilead Sciences, Inc		201,224
	698,063	*	Illumina, Inc		256,231
	18,359	*	Incyte Corp		1,268
	13,089	*,e	Ionis Pharmaceuticals, Inc		675
	121,300	*	IQVIA Holdings, Inc		15,737
	530,813	*	Jazz Pharmaceuticals plc		89,246
	731,029		Johnson & Johnson		101,006
	437,377		Lonza Group AG.		149,625
	2,597	*	Mettler-Toledo International, Inc		1,581
	15,742	*	Nektar Therapeutics		960
	9,310	*	Neurocrine Biosciences, Inc		1,145
	65,177	*,e	PRA Health Sciences, Inc		7,182
	8,311	*	Regeneron Pharmaceuticals, Inc		3,358
	4,854	*	Sage Therapeutics, Inc		686
	71,950	*	Sarepta Therapeutics, Inc		11,621
	1,157,937		Schering-Plough Corp		82,144
	11,001	*	Seattle Genetics, Inc		848
	399,975	*,e	TESARO, Inc		15,603
	782,206		Teva Pharmaceutical Industries Ltd (ADR)		16,849
	67,933		Thermo Fisher Scientific, Inc		16,581
	453,952	*	Vertex Pharmaceuticals, Inc		87,495

263

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	7,416	*	Waters Corp	$	1,444
	2,988,646		Zoetis, Inc		273,640
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,020,224
REAL ESTATE - 0.5%
	1,044		Alexandria Real Estate Equities, Inc		131
	67,286		American Tower Corp		9,777
	481,055	*	CBRE Group, Inc		21,214
	1,567		Colony Capital, Inc		9
	3,902		Coresite Realty		434
	32,547		Crown Castle International Corp		3,623
	44,761	e	Equinix, Inc		19,377
	109,783		Equity Lifestyle Properties, Inc		10,589
	36,955		Extra Space Storage, Inc		3,202
	7,896		Gaming and Leisure Properties, Inc		278
	1,789	*	Howard Hughes Corp		222
	1,438		Hudson Pacific Properties		47
	8,089		Lamar Advertising Co		629
	153	e	Life Storage, Inc		15
	850,649	e	MGM Growth Properties LLC		25,086
	969	e	Omega Healthcare Investors, Inc		32
	15,479		Public Storage, Inc		3,121
	29,919	*	SBA Communications Corp		4,806
	198,549		Simon Property Group, Inc		35,093
	5,609		Taubman Centers, Inc		336
			TOTAL REAL ESTATE		138,021
RETAILING - 12.8%
	141,076		Advance Auto Parts, Inc		23,747
	871,691	*	Amazon.com, Inc		1,745,997
	600,000	*	ASOS plc		44,992
	2,400	*	AutoZone, Inc		1,862
	443,834		Best Buy Co, Inc		35,223
	49,950	*	Booking Holdings, Inc		99,101
	190,403	*	Burlington Stores, Inc		31,020
	920,871	*,e	CarMax, Inc		68,761
	748,134	*	Ctrip.com International Ltd (ADR)		27,808
	579,726		Dollar General Corp		63,364
	4,249	*	Dollar Tree, Inc		347
	1,798,833		Expedia, Inc		234,712
	1,201,678	*	Farfetch Ltd		32,722
	3,019	*,e	Floor & Decor Holdings, Inc		91
	460		Gap, Inc		13
	4,595,466	*	Groupon, Inc		17,325
	1,669,432		Home Depot, Inc		345,823
	620,000		Industria De Diseno Textil S.A.		18,731
	176,906		Kering		94,884
	953,849		Kohl’s Corp		71,109
	3,135		L Brands, Inc		95
	5,769	*	LKQ Corp		183
	199,456		Lowe’s Companies, Inc		22,902
	1,018	*,e	Michaels Cos, Inc		17
	637,099	*	NetFlix, Inc		238,358

264

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	617,120		Nordstrom, Inc	$	36,910
	86,154	*	O’Reilly Automotive, Inc		29,923
	132,677	*,e	Pinduoduo, Inc (ADR)		3,488
	4,114		Pool Corp		687
	3,835,021	*,e	Qurate Retail Group, Inc QVC Group		85,176
	144,969		Ross Stores, Inc		14,366
	393,653		Tiffany & Co		50,769
	915,008		TJX Companies, Inc		102,499
	303,074		Tractor Supply Co		27,543
	10,537	*,e	TripAdvisor, Inc		538
	167,788	*	Ulta Beauty, Inc		47,336
	750,967	*	Urban Outfitters, Inc		30,715
	113,433	*,e	Wayfair, Inc		16,751
	170,516	e	Williams-Sonoma, Inc		11,206
			TOTAL RETAILING		3,677,094
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.1%
	311,971	*,e	Advanced Micro Devices, Inc		9,637
	5,898	e	Analog Devices, Inc		545
	2,320,378		Applied Materials, Inc		89,683
	578,904		Broadcom, Inc		142,833
	194,060		Cypress Semiconductor Corp		2,812
	586,654		Intel Corp		27,743
	434,498		Kla-Tencor Corp		44,193
	216,756		Lam Research Corp		32,882
	16,001		Marvell Technology Group Ltd		309
	308,270		Maxim Integrated Products, Inc		17,383
	93,220	e	Microchip Technology, Inc		7,356
	829,400	*	Micron Technology, Inc		37,514
	5,630		MKS Instruments, Inc		451
	4,313		Monolithic Power Systems, Inc		541
	1,210,722		NVIDIA Corp		340,237
	269,578	*	NXP Semiconductors NV		23,049
	99,936	*	ON Semiconductor Corp		1,842
	13,233		Skyworks Solutions, Inc		1,200
	2,795		Teradyne, Inc		103
	912,803		Texas Instruments, Inc		97,935
	4,527	e	Universal Display Corp		534
	10,719		Versum Materials, Inc		386
	231,426		Xilinx, Inc		18,553
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		897,721
SOFTWARE & SERVICES - 36.5%
	6,041	*	2U, Inc		454
	685,377		Accenture plc		116,651
	1,788,629		Activision Blizzard, Inc		148,796
	1,643,150	*	Adobe Systems, Inc		443,568
	16,140	*	Akamai Technologies, Inc		1,181
	680,001	*	Alibaba Group Holding Ltd (ADR)		112,037
	47,242		Alliance Data Systems Corp		11,157
	508,426	*	Alphabet, Inc (Class A)		613,711
	915,201	*	Alphabet, Inc (Class C)		1,092,265
	120,490	*	Ansys, Inc		22,493
	112,938	*	Aspen Technology, Inc		12,865

265

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	9,545	*	Atlassian Corp plc	$	918
	19,197	*	Autodesk, Inc		2,997
	1,180,476		Automatic Data Processing, Inc		177,851
	397,842	*,e	Baidu, Inc (ADR)		90,978
	14,585	*	Black Knight, Inc		758
	238,989		Booz Allen Hamilton Holding Co		11,861
	297,879		Broadridge Financial Solutions, Inc		39,305
	29,104	*,e	Cadence Design Systems, Inc		1,319
	13,531		CDK Global, Inc		846
	2,056	*,e	Ceridian HCM Holding, Inc		86
	442,952	*	Citrix Systems, Inc		49,239
	539,421		Cognizant Technology Solutions Corp (Class A)		41,616
	173,596	*	Dell Technologies, Inc-VMware Inc		16,860
	2,468	*,e	DocuSign, Inc		130
	1,155,200		DXC Technology Co		108,034
	4,355,431	*	eBay, Inc		143,816
	431,400	*	Electronic Arts, Inc		51,979
	5,258	*	EPAM Systems, Inc		724
	2,804	*,e	Euronet Worldwide, Inc		281
	3,800,135	*	Facebook, Inc		624,970
	2,994	*	Fair Isaac Corp		684
	2,901		Fidelity National Information Services, Inc		316
	13,986	*	FireEye, Inc		238
	45,982	*	First American Corp		2,272
	469,516	*	First Data Corp		11,489
	42,202	*	Fiserv, Inc		3,477
	9,155	*	FleetCor Technologies, Inc		2,086
	363,920	*	Fortinet, Inc		33,579
	402,295	*	Gartner, Inc		63,764
	5,265		Genpact Ltd		161
	16,551		Global Payments, Inc		2,109
	1,276,947	*	GoDaddy, Inc		106,485
	1,227,027	*	GrubHub, Inc		170,091
	8,343	*	Guidewire Software, Inc		843
	1,327,760	*	IAC/InterActiveCorp		287,752
	418,047		International Business Machines Corp		63,213
	2,711,928		Intuit, Inc		616,692
	8,030		Jack Henry & Associates, Inc		1,285
	290,792		LogMeIn, Inc		25,910
	7,040	*	Manhattan Associates, Inc		384
	2,478,987		MasterCard, Inc (Class A)		551,847
	875,824	*,e	Match Group, Inc		50,719
	15,743,821		Microsoft Corp		1,800,621
	10,638	*	Nutanix, Inc		454
	9,000	*	Okta, Inc		633
	28,182		Oracle Corp		1,453
	60,171		Paychex, Inc		4,432
	5,162	*	Paycom Software, Inc		802
	4,951,069	*	PayPal Holdings, Inc		434,902
	3,592		Pegasystems, Inc		225
	190,156		Perspecta, Inc		4,891
	2,082	*	Pluralsight, Inc		67
	348,535	*	Proofpoint, Inc		37,060

266

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	327,061	*	PTC, Inc	$	34,731
	7,732	*	RealPage, Inc		509
	146,059	*	Red Hat, Inc		19,905
	48,858	*	RingCentral, Inc		4,546
	806,118		Sabre Corp		21,024
	4,179,519	*,e	salesforce.com, Inc		664,669
	841,849	*	ServiceNow, Inc		164,691
	146,300	*	Shopify, Inc (Class A)		24,060
	123,988	*	Splunk, Inc		14,991
	347,024	*	Square, Inc		34,359
	20,061		SS&C Technologies Holdings, Inc		1,140
	2,129	e	Switch, Inc		23
	243,765	*	Synopsys, Inc		24,038
	7,261	*	Tableau Software, Inc		811
	6,992	*	Take-Two Interactive Software, Inc		965
	1,105,800		Tencent Holdings Ltd		45,151
	9,133	*	Teradata Corp		344
	732,567		Total System Services, Inc		72,334
	7,362	*	Twilio, Inc		635
	4,415,900	*	Twitter, Inc		125,676
	4,057	*	Tyler Technologies, Inc		994
	3,137	*	Ultimate Software Group, Inc		1,011
	233,757	*	VeriSign, Inc		37,429
	5,180,846		Visa, Inc (Class A)		777,593
	448,526	*	VMware, Inc (Class A)		69,997
	14,121		Western Union Co		269
	87,766	*	WEX, Inc		17,620
	15,151	*	Workday, Inc		2,212
	48,697	*	Worldpay, Inc		4,932
	216,822	*	Zendesk, Inc		15,394
	4,546	*,e	Zillow Group, Inc		201
	9,196	*,e	Zillow Group, Inc (Class C)		407
	974,652	*,e	Zscaler, Inc		39,746
			TOTAL SOFTWARE & SERVICES		10,443,089
TECHNOLOGY HARDWARE & EQUIPMENT - 7.0%
	30,683		Amphenol Corp (Class A)		2,885
	6,038,206		Apple, Inc		1,363,065
	5,947	*	Arista Networks, Inc		1,581
	397,333		CDW Corp		35,331
	4,102,229		Cisco Systems, Inc		199,573
	17,799		Cognex Corp		994
	1,824	*,e	Coherent, Inc		314
	209,705	*	F5 Networks, Inc		41,819
	721		Flir Systems, Inc		44
	3,895	*	IPG Photonics Corp		608
	2,206		Littelfuse, Inc		437
	1,138,110		Motorola, Inc		148,114
	9,647		National Instruments Corp		466
	10,186	*	NCR Corp		289
	900,394		NetApp, Inc		77,335
	71,746	*	Palo Alto Networks, Inc		16,161
	16,356	*	Pure Storage, Inc		424
	898,357		TE Connectivity Ltd		78,993

267

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,083		Ubiquiti Networks, Inc	$	206
	201,447	*	Zebra Technologies Corp (Class A)		35,622
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		2,004,261
TELECOMMUNICATION SERVICES - 0.5%
	1,183,900		Softbank Corp		118,271
	191,736	*	T-Mobile US, Inc		13,456
	20,084	*	Zayo Group Holdings, Inc		697
			TOTAL TELECOMMUNICATION SERVICES		132,424
TRANSPORTATION - 1.7%
	439,990		American Airlines Group, Inc		18,185
	14,465		CH Robinson Worldwide, Inc		1,416
	752,300		CSX Corp		55,708
	67,597		Delta Air Lines, Inc		3,909
	18,580		Expeditors International of Washington, Inc		1,366
	703,533		FedEx Corp		169,404
	1,193	*	Genesee & Wyoming, Inc (Class A)		109
	9,399		JB Hunt Transport Services, Inc		1,118
	4,222		Landstar System, Inc		515
	6,891	e	Old Dominion Freight Line		1,111
	464		Schneider National, Inc		12
	39,035		Southwest Airlines Co		2,438
	586,654	*,e	Spirit Airlines, Inc		27,555
	1,088,180		Union Pacific Corp		177,188
	294,787		United Parcel Service, Inc (Class B)		34,416
	51,877	*	XPO Logistics, Inc		5,923
			TOTAL TRANSPORTATION		500,373
			TOTAL COMMON STOCKS		28,554,415
			(Cost $20,264,278)

268

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
SHORT-TERM INVESTMENTS - 0.8%
GOVERNMENT AGENCY DEBT - 0.1%
$	24,700,000		Federal Home Loan Bank (FHLB)		2.000	%	10/01/18	$	24,700
			TOTAL GOVERNMENT AGENCY DEBT						24,700
TREASURY DEBT - 0.1%
	14,677,000		United States Treasury Bill		1.925		10/04/18		14,675
	15,630,000		United States Treasury Bill		1.963		10/11/18		15,621
			TOTAL TREASURY DEBT						30,296
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.6%
	181,658,313	c	State Street Navigator Securities Lending Government Money Market Portfolio						181,658
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						181,658
			TOTAL SHORT-TERM INVESTMENTS						236,654
			(Cost $236,654)
			TOTAL INVESTMENTS - 100.5%						28,791,069
			(Cost $20,500,932)
			OTHER ASSETS & LIABILITIES, NET - (0.5)%						(155,237	)
			NET ASSETS - 100.0%					$	28,635,832

Abbreviation(s):

ADR     American Depositary Receipt

*	Non-income producing
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 $173,895,000.
	Cost amounts are in thousands.

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND

EQUITY INDEX ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2018

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 0.7%
	60,563	e	Adient plc	$	2,381
	60,325	*	American Axle & Manufacturing Holdings, Inc		1,052
	144,549		BorgWarner, Inc		6,184
	37,696	e	Cooper Tire & Rubber Co		1,067
	12,534	*	Cooper-Standard Holding, Inc		1,504
	76,541		Dana Holding Corp		1,429
	174,198		Delphi Automotive plc		14,615
	19,677	*	Dorman Products, Inc		1,514
	2,585,495		Ford Motor Co		23,916
	25,297	*	Fox Factory Holding Corp		1,772
	874,069		General Motors Co		29,430
	199,630		Gentex Corp		4,284
	26,543	*	Gentherm, Inc		1,206
	137,668		Goodyear Tire & Rubber Co		3,220
	115,779	e	Harley-Davidson, Inc		5,245
	17,506		LCI Industries, Inc		1,449
	42,706		Lear Corp		6,192
	36,302	*	Modine Manufacturing Co		541
	13,147	*,e	Motorcar Parts of America, Inc		308
	5,808	*	Shiloh Industries, Inc		64
	24,709		Spartan Motors, Inc		364
	15,087		Standard Motor Products, Inc		743
	20,247	*	Stoneridge, Inc		602
	17,815		Superior Industries International, Inc		304
	28,062		Tenneco, Inc		1,182
	92,464	*,e	Tesla, Inc		24,482
	35,644		Thor Industries, Inc		2,983
	15,398		Tower International, Inc		466
	22,699	*	Visteon Corp		2,109
	22,457		Winnebago Industries, Inc		744
			TOTAL AUTOMOBILES & COMPONENTS		141,352
BANKS - 6.2%
	12,408		1st Source Corp		653
	10,115		Access National Corp		274
	4,570		ACNB Corp		170
	7,958	*	Allegiance Bancshares, Inc		332
	5,882		American National Bankshares, Inc		229
	26,136		Ameris Bancorp		1,194
	7,069	*	Ames National Corp		193
	8,183		Arrow Financial Corp		303
	125,355		Associated Banc-Corp		3,259
	14,762	*	Atlantic Capital Bancshares, Inc		247
	43,167	*,e	Axos Financial, Inc		1,484

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	31,112		Banc of California, Inc	$	588
	11,574		Bancfirst Corp		694
	62,103	e	BancorpSouth Bank		2,031
	6,271,462		Bank of America Corp		184,757
	11,787		Bank of Commerce Holdings		144
	30,867		Bank of Hawaii Corp		2,436
	3,864		Bank of Marin Bancorp		324
	36,956		Bank of NT Butterfield & Son Ltd		1,917
	82,422		Bank OZK		3,129
	12,265		BankFinancial Corp		195
	74,384		BankUnited		2,633
	3,897		Bankwell Financial Group, Inc		122
	23,725		Banner Corp		1,475
	11,016		Bar Harbor Bankshares		316
	6,936	*	Baycom Corp		185
	520,077		BB&T Corp		25,245
	7,059		BCB Bancorp, Inc		98
	51,465		Beneficial Bancorp, Inc		870
	22,749		Berkshire Hills Bancorp, Inc		926
	17,706		Blue Hills Bancorp, Inc		427
	18,057		BOK Financial Corp		1,757
	59,217		Boston Private Financial Holdings, Inc		808
	13,328		Bridge Bancorp, Inc		442
	54,590		Brookline Bancorp, Inc		912
	12,987		Bryn Mawr Bank Corp		609
	6,346	*	BSB Bancorp, Inc		207
	6,436	e	Business First Bancshares, Inc		171
	5,576	*	Byline Bancorp, Inc		127
	2,353		C&F Financial Corp		138
	31,825	e	Cadence BanCorp		831
	2,502		Cambridge Bancorp		225
	11,436		Camden National Corp		497
	9,158		Capital City Bank Group, Inc		214
	92,364		Capitol Federal Financial		1,177
	5,956		Capstar Financial Holdings, Inc		99
	10,298		Carolina Financial Corp		388
	54,668		Cathay General Bancorp		2,265
	12,633	e	CBTX, Inc		449
	50,378		Centerstate Banks of Florida, Inc		1,413
	21,511		Central Pacific Financial Corp		569
	6,214		Central Valley Community Bancorp		134
	2,245		Century Bancorp, Inc		162
	48,933		Chemical Financial Corp		2,613
	2,189		Chemung Financial Corp		93
	85,835		CIT Group, Inc		4,430
	1,695,825		Citigroup, Inc		121,659
	9,568		Citizens & Northern Corp		250
	324,232		Citizens Financial Group, Inc		12,506
	10,955		City Holding Co		841
	7,262		Civista Bancshares, Inc		175
	9,772		CNB Financial Corp		282
	26,184		CoBiz, Inc		580
	6,146		Codorus Valley Bancorp, Inc		192
	51,998		Columbia Banking System, Inc		2,016

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	33,673	*,e	Columbia Financial, Inc	$	562
	113,956		Comerica, Inc		10,279
	56,209		Commerce Bancshares, Inc		3,711
	4,712		Commerce Union Bancshares, Inc		120
	35,397		Community Bank System, Inc		2,162
	15,668	*	Community Bankers Trust Corp		138
	2,846		Community Financial Corp		95
	11,638		Community Trust Bancorp, Inc		539
	21,722		ConnectOne Bancorp, Inc		516
	3,700		County Bancorp, Inc		93
	38,938		Cullen/Frost Bankers, Inc		4,067
	19,196	*	Customers Bancorp, Inc		452
	75,634	e	CVB Financial Corp		1,688
	23,810		Dime Community Bancshares		425
	22,688	*	Eagle Bancorp, Inc		1,148
	93,759		East West Bancorp, Inc		5,660
	4,525	*	Entegra Financial Corp		120
	6,481		Enterprise Bancorp, Inc		223
	16,077		Enterprise Financial Services Corp		853
	7,477	*	Equity Bancshares, Inc		294
	6,121		ESSA Bancorp, Inc		100
	55,323	*	Essent Group Ltd		2,448
	3,168		Evans Bancorp, Inc		149
	6,654	e	Farmers & Merchants Bancorp, Inc		283
	18,150		Farmers National Banc Corp		278
	4,563		FB Financial Corp		179
	25,303	*	FCB Financial Holdings, Inc		1,199
	6,481		Federal Agricultural Mortgage Corp (Class C)		468
	15,456		Fidelity Southern Corp		383
	467,709		Fifth Third Bancorp		13,058
	10,211		Financial Institutions, Inc		321
	20,427		First Bancorp (NC)		827
	114,850	*	First Bancorp (Puerto Rico)		1,045
	6,485		First Bancorp, Inc		188
	6,018		First Bancshares, Inc		235
	26,747	e	First Busey Corp		830
	6,176		First Business Financial Services, Inc		143
	5,135		First Citizens Bancshares, Inc (Class A)		2,322
	69,402		First Commonwealth Financial Corp		1,120
	12,139		First Community Bancshares, Inc		411
	10,568		First Connecticut Bancorp		312
	15,452		First Defiance Financial Corp		465
	68,200	e	First Financial Bancorp		2,026
	46,159	e	First Financial Bankshares, Inc		2,728
	8,330		First Financial Corp		418
	6,257		First Financial Northwest, Inc		104
	19,660	*	First Foundation, Inc		307
	3,022	e	First Guaranty Bancshares, Inc		78
	71,845	e	First Hawaiian, Inc		1,951
	220,520		First Horizon National Corp		3,806
	4,089		First Internet Bancorp		124
	18,329		First Interstate Bancsystem, Inc		821
	29,933		First Merchants Corp		1,347

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,120		First Mid-Illinois Bancshares, Inc	$	287
	73,424	e	First Midwest Bancorp, Inc		1,952
	7,602	*	First Northwest Bancorp		117
	15,462		First of Long Island Corp		336
	107,798	e	First Republic Bank		10,349
	15,789	*	Flagstar Bancorp, Inc		497
	20,105		Flushing Financial Corp		491
	228,101		FNB Corp		2,901
	8,854	*,e	Franklin Financial Network, Inc		346
	119,869		Fulton Financial Corp		1,996
	14,703		German American Bancorp, Inc		519
	55,696		Glacier Bancorp, Inc		2,400
	7,809		Great Southern Bancorp, Inc		432
	42,914		Great Western Bancorp, Inc		1,811
	14,667		Green Bancorp, Inc		324
	2,003	e	Greene County Bancorp, Inc		64
	16,942		Guaranty Bancorp		503
	1,224		Guaranty Bancshares, Inc		37
	59,807		Hancock Holding Co		2,844
	23,963		Hanmi Financial Corp		597
	9,284	*	HarborOne Bancorp, Inc		177
	17,800		Heartland Financial USA, Inc		1,033
	25,661		Heritage Commerce Corp		383
	22,188		Heritage Financial Corp		780
	54,190		Hilltop Holdings, Inc		1,093
	997		Hingham Institution for Savings		219
	4,264		Home Bancorp, Inc		185
	112,204		Home Bancshares, Inc		2,457
	15,022	*	HomeStreet, Inc		398
	13,541	*	HomeTrust Bancshares, Inc		395
	93,574		Hope Bancorp, Inc		1,513
	23,268		Horizon Bancorp		460
	6,001	*,e	Howard Bancorp, Inc		106
	740,418		Huntington Bancshares, Inc		11,047
	35,117		IBERIABANK Corp		2,857
	6,123	*,e	Impac Mortgage Holdings, Inc		46
	19,246	e	Independent Bank Corp (MA)		1,590
	17,558		Independent Bank Corp (MI)		415
	12,630		Independent Bank Group, Inc		837
	40,567		International Bancshares Corp		1,825
	5,550		Investar Holding Corp		149
	186,863		Investors Bancorp, Inc		2,293
	2,252,893		JPMorgan Chase & Co		254,216
	83,674		Kearny Financial Corp		1,159
	721,034		Keycorp		14,341
	32,502		Lakeland Bancorp, Inc		587
	18,387		Lakeland Financial Corp		855
	6,780		LCNB Corp		126
	33,647	e	LegacyTexas Financial Group, Inc		1,433
	4,628	*,e	LendingTree, Inc		1,065
	14,926	e	Live Oak Bancshares, Inc		400
	95,388		M&T Bank Corp		15,695
	19,210		Macatawa Bank Corp		225
	4,666	*	Malvern Bancorp, Inc		112

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	58,413		MB Financial, Inc	$	2,693
	13,586		MBT Financial Corp		154
	12,428		Mercantile Bank Corp		415
	10,918		Merchants Bancorp		278
	35,757	e	Meridian Bancorp, Inc		608
	6,858		Meta Financial Group, Inc		567
	4,420	*	Metropolitan Bank Holding Corp		182
	210,298	*	MGIC Investment Corp		2,799
	1,778		Middlefield Banc Corp		84
	10,800		Midland States Bancorp, Inc		347
	6,195		Midsouth Bancorp, Inc		95
	7,821		MidWestOne Financial Group, Inc		261
	3,816		MutualFirst Financial, Inc		141
	19,324		National Bank Holdings Corp		728
	5,351	e	National Bankshares, Inc		243
	7,588	*	National Commerce Corp		313
	31,726		NBT Bancorp, Inc		1,218
	305,096	e	New York Community Bancorp, Inc		3,164
	6,480	*	Nicolet Bankshares, Inc		353
	38,864	*	NMI Holdings, Inc		880
	5,235		Northeast Bancorp		114
	33,024		Northfield Bancorp, Inc		526
	5,019		Northrim BanCorp, Inc		209
	69,442		Northwest Bancshares, Inc		1,203
	4,425		Norwood Financial Corp		173
	30,487		OceanFirst Financial Corp		830
	33,903	e	OFG Bancorp		548
	3,155	e	Ohio Valley Banc Corp		116
	6,461		Old Line Bancshares, Inc		204
	90,192		Old National Bancorp		1,741
	21,667		Old Second Bancorp, Inc		335
	14,808		Opus Bank		406
	11,057		Origin Bancorp, Inc		416
	26,521	e	Oritani Financial Corp		412
	5,318		Orrstown Financial Services, Inc		127
	11,579	*	Pacific Mercantile Bancorp		108
	28,237	*	Pacific Premier Bancorp, Inc		1,050
	81,519		PacWest Bancorp		3,884
	9,690		Park National Corp		1,023
	4,177		Parke Bancorp, Inc		94
	13,465		PCSB Financial Corp		274
	11,582		Peapack Gladstone Financial Corp		358
	2,964		Penns Woods Bancorp, Inc		129
	9,540		PennyMac Financial Services, Inc		199
	3,256	e	Peoples Bancorp of North Carolina, Inc		94
	12,623		Peoples Bancorp, Inc		442
	5,712	e	Peoples Financial Services Corp		242
	221,952		People’s United Financial, Inc		3,800
	9,341		People’s Utah Bancorp		317
	36,552	*	PHH Corp		402
	50,971		Pinnacle Financial Partners, Inc		3,066
	316,224		PNC Financial Services Group, Inc		43,067
	72,890		Popular, Inc		3,736

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,859		Preferred Bank	$	518
	8,456		Premier Financial Bancorp, Inc		156
	48,016		Prosperity Bancshares, Inc		3,330
	3,260	*	Provident Bancorp, Inc		94
	45,191		Provident Financial Services, Inc		1,109
	6,101		Prudential Bancorp, Inc		106
	8,729		QCR Holdings, Inc		357
	122,609		Radian Group, Inc		2,534
	9,265		RBB Bancorp		227
	741,337		Regions Financial Corp		13,604
	30,881		Renasant Corp		1,273
	6,104		Republic Bancorp, Inc (Class A)		281
	34,776	*	Republic First Bancorp, Inc		249
	13,238		Riverview Bancorp, Inc		117
	25,676		S&T Bancorp, Inc		1,113
	22,606		Sandy Spring Bancorp, Inc		889
	28,631	*	Seacoast Banking Corp of Florida		836
	32,848		ServisFirst Bancshares, Inc		1,286
	8,913		Shore Bancshares, Inc		159
	8,511		SI Financial Group, Inc		119
	8,919		Sierra Bancorp		258
	38,410		Signature Bank		4,411
	55,218		Simmons First National Corp (Class A)		1,626
	5,382	*	SmartFinancial, Inc		127
	24,776		South State Corp		2,032
	4,079	*	Southern First Bancshares, Inc		160
	4,139		Southern Missouri Bancorp, Inc		154
	8,140		Southern National Bancorp of Virginia, Inc		132
	20,042		Southside Bancshares, Inc		697
	26,403		State Bank & Trust Co		797
	11,631		Sterling Bancorp, Inc		132
	151,652		Sterling Bancorp/DE		3,336
	16,305		Stock Yards Bancorp, Inc		592
	6,101		Summit Financial Group, Inc		142
	308,760		SunTrust Banks, Inc		20,622
	35,867	*	SVB Financial Group		11,149
	76,607		Synovus Financial Corp		3,508
	116,646		TCF Financial Corp		2,777
	5,870		Territorial Bancorp, Inc		173
	35,836	*	Texas Capital Bancshares, Inc		2,962
	34,383	e	TFS Financial Corp		516
	35,393	*	The Bancorp, Inc		339
	4,645		Timberland Bancorp, Inc		145
	10,641		Tompkins Trustco, Inc		864
	46,422	e	TowneBank		1,432
	19,212		Trico Bancshares		742
	16,178	*,e	Tristate Capital Holdings, Inc		446
	10,668	*,e	Triumph Bancorp, Inc		408
	71,043		Trustco Bank Corp NY		604
	49,168		Trustmark Corp		1,654
	26,057		UMB Financial Corp		1,847
	161,706	e	Umpqua Holdings Corp		3,363
	34,740		Union Bankshares Corp		1,339
	2,885	e	Union Bankshares, Inc		153

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	72,013	e	United Bankshares, Inc	$	2,618
	51,942		United Community Banks, Inc		1,449
	34,307		United Community Financial Corp		332
	36,948		United Financial Bancorp, Inc (New)		622
	9,461		United Security Bancshares		105
	5,346		Unity Bancorp, Inc		122
	19,117		Univest Corp of Pennsylvania		506
	1,027,607		US Bancorp		54,268
	216,752		Valley National Bancorp		2,438
	10,468	*	Veritex Holdings, Inc		296
	19,235		Walker & Dunlop, Inc		1,017
	50,737		Washington Federal, Inc		1,624
	10,818		Washington Trust Bancorp, Inc		598
	19,189		Waterstone Financial, Inc		329
	67,195		Webster Financial Corp		3,962
	2,924,186		Wells Fargo & Co		153,695
	35,721		WesBanco, Inc		1,592
	11,970		West Bancorporation, Inc		281
	18,981	e	Westamerica Bancorporation		1,142
	68,448	*	Western Alliance Bancorp		3,894
	19,137		Western New England Bancorp, Inc		207
	38,890		Wintrust Financial Corp		3,303
	412,329	*	WMIH Corp		573
	21,617		WSFS Financial Corp		1,019
	132,437		Zions Bancorporation		6,642
			TOTAL BANKS		1,244,773
CAPITAL GOODS - 7.3%
	383,889		3M Co		80,889
	93,763		A.O. Smith Corp		5,004
	29,877	e	Aaon, Inc		1,129
	23,226		AAR Corp		1,112
	43,959	e	Actuant Corp (Class A)		1,226
	28,754		Acuity Brands, Inc		4,520
	24,758		Advanced Drainage Systems, Inc		765
	93,206	*	Aecom Technology Corp		3,044
	24,436	*	Aegion Corp		620
	49,582	*	Aerojet Rocketdyne Holdings, Inc		1,685
	14,335	*	Aerovironment, Inc		1,608
	48,271		AGCO Corp		2,934
	56,080	e	Air Lease Corp		2,573
	13,921		Aircastle Ltd		305
	6,904		Alamo Group, Inc		632
	21,082		Albany International Corp (Class A)		1,676
	64,745		Allegion plc		5,864
	4,493		Allied Motion Technologies, Inc		245
	80,231		Allison Transmission Holdings, Inc		4,173
	22,667	e	Altra Holdings, Inc		936
	13,776	*	Ameresco, Inc		188
	2,958	e	American Railcar Industries, Inc		136
	10,171	*	American Woodmark Corp		798
	147,502		Ametek, Inc		11,670
	20,270	e	Apogee Enterprises, Inc		838

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	27,154		Applied Industrial Technologies, Inc	$	2,125
	274,168		Arconic, Inc		6,034
	10,471		Argan, Inc		450
	17,658	*	Armstrong Flooring, Inc		320
	31,329	*	Armstrong World Industries, Inc		2,181
	15,250	e	Astec Industries, Inc		769
	15,755	*	Astronics Corp		685
	23,836	*	Atkore International Group, Inc		632
	35,579	*,e	Axon Enterprise, Inc		2,435
	19,364		AZZ, Inc		978
	36,264		Barnes Group, Inc		2,576
	41,684	*	Beacon Roofing Supply, Inc		1,509
	3,967	*,e	Blue Bird Corp		97
	6,034	*	BlueLinx Holdings, Inc		190
	47,040	*	BMC Stock Holdings, Inc		877
	364,895		Boeing Co		135,705
	30,438		Briggs & Stratton Corp		585
	67,070	*	Builders FirstSource, Inc		985
	66,179		BWX Technologies, Inc		4,139
	14,163	e	Caesarstone Sdot-Yam Ltd		263
	8,775	*	CAI International, Inc		201
	41,051		Carlisle Cos, Inc		5,000
	392,121		Caterpillar, Inc		59,795
	22,344	*	Chart Industries, Inc		1,750
	12,045		CIRCOR International, Inc		572
	64,286	*	Colfax Corp		2,318
	14,727		Columbus McKinnon Corp		582
	24,840		Comfort Systems USA, Inc		1,401
	18,016	*	Commercial Vehicle Group, Inc		165
	28,296	*	Continental Building Products Inc		1,063
	35,446		Crane Co		3,486
	10,574	*	CSW Industrials, Inc		568
	18,660		Cubic Corp		1,363
	99,864		Cummins, Inc		14,587
	31,189		Curtiss-Wright Corp		4,286
	217,576		Deere & Co		32,708
	9,586		DMC Global, Inc		391
	81,746		Donaldson Co, Inc		4,763
	16,771		Douglas Dynamics, Inc		736
	98,185		Dover Corp		8,692
	8,048	*	Ducommun, Inc		329
	11,117	*	DXP Enterprises, Inc		445
	16,954	*	Dycom Industries, Inc		1,434
	3,733		Eastern Co		106
	293,039		Eaton Corp		25,415
	35,403		EMCOR Group, Inc		2,659
	420,202		Emerson Electric Co		32,179
	15,305		Encore Wire Corp		767
	11,608	*,e	Energous Corp		117
	24,905	*,e	Energy Recovery, Inc		223
	31,570		EnerSys		2,751
	12,394	*	Engility Holdings, Inc		446
	58,642	*,e	Enphase Energy, Inc		284
	15,803		EnPro Industries, Inc		1,153

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	2,576	e	EnviroStar, Inc	$	100
	81,459		Equifax, Inc		10,636
	18,556		ESCO Technologies, Inc		1,263
	18,922	*	Esterline Technologies Corp		1,721
	51,314	*,e	Evoqua Water Technologies Corp		912
	196,957		Fastenal Co		11,427
	42,557		Federal Signal Corp		1,140
	94,563		Flowserve Corp		5,172
	91,070		Fluor Corp		5,291
	205,901	e	Fortive Corp		17,337
	99,180		Fortune Brands Home & Security, Inc		5,193
	9,256	*	Foundation Building Materials, Inc		115
	34,098		Franklin Electric Co, Inc		1,611
	9,868		Freightcar America, Inc		159
	72,418	*	Gardner Denver Holdings, Inc		2,052
	30,738	*,e	Gates Industrial Corp plc		599
	28,224	e	GATX Corp		2,444
	4,980	*	Gencor Industries, Inc		60
	41,949	*	Generac Holdings, Inc		2,366
	172,512		General Dynamics Corp		35,317
	5,837,101		General Electric Co		65,901
	22,869	*	Gibraltar Industries, Inc		1,043
	16,574		Global Brass & Copper Holdings, Inc		612
	17,148	*	GMS, Inc		398
	14,132		Gorman-Rupp Co		516
	104,372		Graco, Inc		4,837
	26,067		GrafTech International Ltd		509
	7,763		Graham Corp		219
	33,088		Granite Construction, Inc		1,512
	44,924	*	Great Lakes Dredge & Dock Corp		279
	19,838	e	Greenbrier Cos, Inc		1,192
	20,793		Griffon Corp		336
	23,777		H&E Equipment Services, Inc		898
	79,494		Harris Corp		13,451
	59,172	*	Harsco Corp		1,689
	26,381	*	HC2 Holdings, Inc		161
	118,284	*	HD Supply Holdings, Inc		5,061
	26,390		HEICO Corp		2,444
	46,469		HEICO Corp (Class A)		3,508
	17,889	*	Herc Holdings, Inc		916
	57,257		Hexcel Corp		3,839
	44,280		Hillenbrand, Inc		2,316
	501,312		Honeywell International, Inc		83,418
	38,998		Hubbell, Inc		5,209
	30,695		Huntington Ingalls		7,860
	4,796		Hurco Cos, Inc		216
	7,224		Hyster-Yale Materials Handling, Inc		444
	49,969		IDEX Corp		7,528
	5,334	*	IES Holdings, Inc		104
	226,136		Illinois Tool Works, Inc		31,912
	165,756		Ingersoll-Rand plc		16,957
	13,472		Insteel Industries, Inc		483
	62,449		ITT, Inc		3,826

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	85,068		Jacobs Engineering Group, Inc	$	6,508
	47,393	*	JELD-WEN Holding, Inc		1,169
	22,550		John Bean Technologies Corp		2,690
	615,106		Johnson Controls International plc		21,529
	8,084		Kadant, Inc		872
	17,941		Kaman Corp		1,198
	104,383		KBR, Inc		2,206
	56,290		Kennametal, Inc		2,452
	35,741	*,e	KEYW Holding Corp, The		310
	29,137	*	KLX, Inc		1,829
	50,983	*,e	Kratos Defense & Security Solutions, Inc		754
	52,610		L3 Technologies, Inc		11,186
	4,456	*	Lawson Products, Inc		151
	5,677	*	LB Foster Co (Class A)		117
	25,151		Lennox International, Inc		5,493
	36,237		Lincoln Electric Holdings, Inc		3,386
	7,273	e	Lindsay Corp		729
	167,081		Lockheed Martin Corp		57,803
	12,223	*	Lydall, Inc		527
	22,630	*,e	Manitowoc Co, Inc		543
	201,028		Masco Corp		7,358
	18,516	*,e	Masonite International Corp		1,187
	48,078	*	Mastec, Inc		2,147
	38,365	e	Maxar Technologies Ltd		1,269
	33,690	*	Mercury Systems, Inc		1,864
	60,412	*	Meritor, Inc		1,170
	35,939	*	Middleby Corp		4,649
	31,692	*	Milacron Holdings Corp		642
	7,280		Miller Industries, Inc		196
	22,998		Moog, Inc (Class A)		1,977
	64,419	*	MRC Global, Inc		1,209
	31,901		MSC Industrial Direct Co (Class A)		2,811
	40,743		Mueller Industries, Inc		1,181
	104,855		Mueller Water Products, Inc (Class A)		1,207
	10,993	*	MYR Group, Inc		359
	3,534	e	National Presto Industries, Inc		458
	35,673	*	Navistar International Corp		1,373
	29,151	*	NCI Building Systems, Inc		442
	18,421	*,e	Nexeo Solutions, Inc		226
	19,066		NN, Inc		297
	37,392		Nordson Corp		5,194
	110,819		Northrop Grumman Corp		35,171
	6,891	*	Northwest Pipe Co		136
	78,206	*,e	NOW, Inc		1,294
	5,211	*	NV5 Holdings, Inc		452
	110,096		nVent Electric plc		2,990
	2,354		Omega Flex, Inc		168
	19,593	*	Orion Marine Group, Inc		148
	53,964		Oshkosh Truck Corp		3,844
	74,736		Owens Corning, Inc		4,056
	224,822		PACCAR, Inc		15,331
	88,001		Parker-Hannifin Corp		16,186
	17,097	*	Patrick Industries, Inc		1,012
	96,376		Pentair plc		4,178

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	36,380	*	PGT, Inc	$	786
	159,236	*,e	Plug Power, Inc		306
	7,077		Powell Industries, Inc		257
	1,801		Preformed Line Products Co		127
	28,783		Primoris Services Corp		714
	18,284	*	Proto Labs, Inc		2,957
	25,291		Quanex Building Products Corp		460
	106,691	*	Quanta Services, Inc		3,561
	25,955		Raven Industries, Inc		1,187
	193,098		Raytheon Co		39,906
	16,634	*	RBC Bearings, Inc		2,501
	32,248		Regal-Beloit Corp		2,659
	8,757	e	REV Group, Inc		137
	75,228	*	Rexnord Corp		2,317
	85,406		Rockwell Automation, Inc		16,015
	107,598		Rockwell Collins, Inc		15,114
	66,271		Roper Industries, Inc		19,630
	4,597		Rush Enterprises, Inc		183
	21,510		Rush Enterprises, Inc (Class A)		846
	112,005	*	Sensata Technologies Holding plc		5,550
	29,530		Simpson Manufacturing Co, Inc		2,140
	24,415	*,e	SiteOne Landscape Supply, Inc		1,839
	37,636		Snap-On, Inc		6,910
	7,959	*	Sparton Corp		115
	73,281		Spirit Aerosystems Holdings, Inc (Class A)		6,718
	30,406	*	SPX Corp		1,013
	29,148	*	SPX FLOW, Inc		1,516
	8,333		Standex International Corp		869
	103,756		Stanley Works		15,194
	18,886	*	Sterling Construction Co, Inc		270
	16,194		Sun Hydraulics Corp		887
	60,603	*,e	Sunrun, Inc		754
	22,563	*	Teledyne Technologies, Inc		5,566
	12,744		Tennant Co		968
	54,792		Terex Corp		2,187
	18,852	*	Textainer Group Holdings Ltd		241
	166,163		Textron, Inc		11,876
	24,419	*	Thermon Group Holdings		630
	50,165		Timken Co		2,501
	33,155		Titan International, Inc		246
	11,613	*	Titan Machinery, Inc		180
	65,756		Toro Co		3,943
	7,431	*,e	TPI Composites, Inc		212
	32,971	*	TransDigm Group, Inc		12,275
	40,670	*,e	Trex Co, Inc		3,131
	34,233	*	Trimas Corp		1,041
	92,156		Trinity Industries, Inc		3,377
	30,588		Triton International Ltd		1,018
	32,779	e	Triumph Group, Inc		764
	27,269	*	Tutor Perini Corp		513
	6,567	*	Twin Disc, Inc		151
	54,189	*	United Rentals, Inc		8,865
	503,564		United Technologies Corp		70,403

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	74,230	*	Univar, Inc	$	2,276
	44,298		Universal Forest Products, Inc		1,565
	51,264	*	USG Corp		2,220
	15,302	e	Valmont Industries, Inc		2,119
	7,860	*	Vectrus, Inc		245
	7,828	*	Veritiv Corp		285
	12,845	*	Vicor Corp		591
	15,334	*	Vivint Solar, Inc		80
	31,005		W.W. Grainger, Inc		11,081
	42,603		Wabash National Corp		777
	31,460	*	WABCO Holdings, Inc		3,710
	55,613		Wabtec Corp		5,833
	21,705		Watsco, Inc		3,866
	18,825		Watts Water Technologies, Inc (Class A)		1,562
	88,290	*	Welbilt, Inc		1,843
	39,330	*	Wesco Aircraft Holdings, Inc		442
	34,751	*	WESCO International, Inc		2,135
	3,392	*	Willis Lease Finance Corp		117
	22,097	*,e	Willscot Corp		379
	30,077		Woodward Governor Co		2,432
	121,024		Xylem, Inc		9,666
			TOTAL CAPITAL GOODS		1,465,733
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	40,285		ABM Industries, Inc		1,299
	37,820	*	Acacia Research (Acacia Technologies)		121
	77,675		ACCO Brands Corp		878
	5,238	e	ADT, Inc		49
	49,123	*	Advanced Disposal Services, Inc		1,330
	5,145		Barrett Business Services, Inc		344
	4,266		BG Staffing, Inc		116
	33,472		Brady Corp (Class A)		1,464
	16,522	*,e	BrightView Holdings, Inc		265
	33,001		Brink’s Co		2,302
	29,675	*	Casella Waste Systems, Inc (Class A)		922
	35,493	*	CBIZ, Inc		841
	18,496		Ceco Environmental Corp		146
	14,958	*,e	Cimpress NV		2,043
	57,986		Cintas Corp		11,470
	38,542	*	Clean Harbors, Inc		2,759
	138,147	*	Copart, Inc		7,119
	23,688	*	CoStar Group, Inc		9,969
	84,474	e	Covanta Holding Corp		1,373
	7,013		CRA International, Inc		352
	27,694		Deluxe Corp		1,577
	25,970		Dun & Bradstreet Corp		3,701
	20,052		Ennis, Inc		410
	28,344		Essendant, Inc		363
	36,012		Exponent, Inc		1,930
	7,582		Forrester Research, Inc		348
	7,620	*	Franklin Covey Co		180
	25,416	*	FTI Consulting, Inc		1,860
	9,864	*	GP Strategies Corp		166
	49,914	e	Healthcare Services Group		2,028

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,300		Heidrick & Struggles International, Inc	$	484
	8,893	*	Heritage-Crystal Clean, Inc		190
	43,782		Herman Miller, Inc		1,681
	31,637		HNI Corp		1,400
	15,850	*	Huron Consulting Group, Inc		783
	13,124		ICF International, Inc		990
	258,425	*	IHS Markit Ltd		13,945
	32,837	*	Innerworkings, Inc		260
	25,976		Insperity, Inc		3,064
	44,581		Interface, Inc		1,041
	88,200		KAR Auction Services, Inc		5,265
	20,372		Kelly Services, Inc (Class A)		490
	18,302		Kforce, Inc		688
	25,171		Kimball International, Inc (Class B)		422
	35,963		Knoll, Inc		843
	37,013		Korn/Ferry International		1,823
	23,849		LSC Communications, Inc		264
	43,803		Manpower, Inc		3,765
	22,585		Matthews International Corp (Class A)		1,133
	17,061		McGrath RentCorp		929
	13,300	*	Mistras Group, Inc		288
	31,645		Mobile Mini, Inc		1,388
	24,011		MSA Safety, Inc		2,556
	9,774		Multi-Color Corp		608
	33,798		Navigant Consulting, Inc		779
	243,950		Nielsen NV		6,748
	4,961	*	NL Industries, Inc		30
	36,708	*	On Assignment, Inc		2,897
	133,127		Pitney Bowes, Inc		943
	21,796		Quad Graphics, Inc		454
	141,252		Republic Services, Inc		10,263
	20,546		Resources Connection, Inc		341
	79,304		Robert Half International, Inc		5,581
	56,806		Rollins, Inc		3,448
	51,083		RR Donnelley & Sons Co		276
	12,140	*	SP Plus Corp		443
	61,807		Steelcase, Inc (Class A)		1,143
	60,073	*	Stericycle, Inc		3,525
	9,938		Systemax, Inc		327
	20,907	*,e	Team, Inc		470
	41,281		Tetra Tech, Inc		2,820
	124,580		TransUnion		9,167
	30,336	*	TriNet Group, Inc		1,709
	30,958	*	TrueBlue, Inc		807
	11,006		Unifirst Corp		1,911
	16,280		US Ecology, Inc		1,201
	104,117	*	Verisk Analytics, Inc		12,551
	15,178		Viad Corp		899
	5,586		VSE Corp		185
	26,743	*	WageWorks, Inc		1,143
	287,361		Waste Management, Inc		25,966
	5,398	*	Willdan Group, Inc		183
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		198,235

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
CONSUMER DURABLES & APPAREL - 1.3%
	15,286		Acushnet Holdings Corp	$	419
	39,523	*	American Outdoor Brands Corp		614
	7,681		Bassett Furniture Industries, Inc		163
	21,459	*	Beazer Homes USA, Inc		225
	54,098		Brunswick Corp		3,626
	69,841		Callaway Golf Co		1,696
	27,877		Carter’s, Inc		2,749
	6,102	*	Cavco Industries, Inc		1,544
	13,611	*	Century Communities, Inc		357
	14,228		Clarus Corp		157
	19,279		Columbia Sportswear Co		1,794
	45,716	*	CROCS, Inc		973
	6,895		Culp, Inc		167
	22,861	*	Deckers Outdoor Corp		2,711
	222,088		DR Horton, Inc		9,368
	7,865		Escalade, Inc		101
	18,783		Ethan Allen Interiors, Inc		390
	5,531		Flexsteel Industries, Inc		165
	31,215	*,e	Fossil Group, Inc		727
	77,803		Garmin Ltd		5,450
	30,360	*	G-III Apparel Group Ltd		1,463
	74,136	*,e	GoPro, Inc		534
	16,535	*	Green Brick Partners, Inc		167
	6,360		Hamilton Beach Brands Holding Co		140
	244,655	e	Hanesbrands, Inc		4,509
	74,516		Hasbro, Inc		7,833
	19,658	*	Helen of Troy Ltd		2,573
	7,913		Hooker Furniture Corp		268
	93,175	*	Hovnanian Enterprises, Inc (Class A)		149
	13,822	*	Installed Building Products Inc		539
	18,443	*	iRobot Corp		2,027
	3,583		Johnson Outdoors, Inc		333
	60,650		KB Home		1,450
	36,137		La-Z-Boy, Inc		1,142
	94,275		Leggett & Platt, Inc		4,128
	11,279		Lennar Corp (B Shares)		434
	192,669		Lennar Corp (Class A)		8,996
	12,635	*,e	LGI Homes, Inc		599
	7,210		Lifetime Brands, Inc		79
	66,891	*	Lululemon Athletica, Inc		10,869
	16,714	*	M/I Homes, Inc		400
	13,092	*	Malibu Boats Inc		716
	8,407		Marine Products Corp		192
	246,470	*,e	Mattel, Inc		3,870
	13,690	*	MCBC Holdings, Inc		491
	30,270	e	MDC Holdings, Inc		895
	26,198	*	Meritage Homes Corp		1,045
	90,698	*	Michael Kors Holdings Ltd		6,218
	42,399	*	Mohawk Industries, Inc		7,435
	11,320		Movado Group, Inc		474
	3,180		Nacco Industries, Inc (Class A)		104

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,756	*	Nautilus, Inc	$	317
	6,504	*	New Home Co Inc		52
	307,811		Newell Rubbermaid, Inc		6,249
	842,300		Nike, Inc (Class B)		71,360
	2,226	*	NVR, Inc		5,500
	11,750		Oxford Industries, Inc		1,060
	8,860	*	Perry Ellis International, Inc		242
	38,838		Polaris Industries, Inc		3,921
	157,608		Pulte Homes, Inc		3,904
	52,136		PVH Corp		7,528
	35,853		Ralph Lauren Corp		4,932
	29,377	*	Roku, Inc		2,145
	79,579	*	Skechers U.S.A., Inc (Class A)		2,223
	4,660		Skyline Corp		133
	40,349	e	Steven Madden Ltd		2,135
	12,383	e	Sturm Ruger & Co, Inc		855
	5,163		Superior Uniform Group, Inc		98
	191,265		Tapestry, Inc		9,615
	76,342	*	Taylor Morrison Home Corp		1,377
	33,646	*,e	Tempur Sealy International, Inc		1,780
	96,054		Toll Brothers, Inc		3,173
	26,487	*	TopBuild Corp		1,505
	102,085	*,e	TRI Pointe Homes, Inc		1,266
	28,980		Tupperware Corp		969
	135,169	*,e	Under Armour, Inc		2,630
	134,677	*,e	Under Armour, Inc (Class A)		2,858
	10,905	*	Unifi, Inc		309
	10,485	*	Universal Electronics, Inc		413
	16,444	*	Vera Bradley, Inc		251
	216,827		VF Corp		20,263
	41,550	*	Vista Outdoor, Inc		743
	46,479		Whirlpool Corp		5,519
	17,713	*	William Lyon Homes, Inc		282
	67,978		Wolverine World Wide, Inc		2,655
	21,026	*	Zagg, Inc		310
			TOTAL CONSUMER DURABLES & APPAREL		272,040
CONSUMER SERVICES - 2.2%
	44,790	*	Adtalem Global Education, Inc		2,159
	12,233	*	American Public Education, Inc		404
	162,451		ARAMARK Holdings Corp		6,989
	44,487	e	BBX Capital Corp		330
	64,026	*,e	Belmond Ltd.		1,168
	76	*	Biglari Holdings, Inc (A Shares)		70
	769	*	Biglari Holdings, Inc (B Shares)		139
	15,173		BJ’s Restaurants, Inc		1,095
	44,145		Bloomin’ Brands, Inc		874
	12,424	*,e	Bojangles’, Inc		195
	61,116		Boyd Gaming Corp		2,069
	36,213	*	Bright Horizons Family Solutions		4,267
	34,614	e	Brinker International, Inc		1,618
	404,805	*,e	Caesars Entertainment Corp		4,149
	8,227	*	Cambium Learning Group, Inc		97
	46,334	*	Career Education Corp		692

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	276,892		Carnival Corp	$	17,657
	11,838	e	Carriage Services, Inc		255
	27,792	*	Carrols Restaurant Group, Inc		406
	16,727	*	Century Casinos, Inc		125
	31,824	e	Cheesecake Factory		1,704
	60,816	*,e	Chegg, Inc		1,729
	16,294	*	Chipotle Mexican Grill, Inc (Class A)		7,406
	24,500		Choice Hotels International, Inc		2,041
	7,983		Churchill Downs, Inc		2,217
	12,474	*	Chuy’s Holdings, Inc		327
	9,391	e	Cracker Barrel Old Country Store, Inc		1,382
	82,979		Darden Restaurants, Inc		9,226
	30,312		Dave & Buster’s Entertainment, Inc		2,007
	17,725	*	Del Frisco’s Restaurant Group, Inc		147
	23,487	*	Del Taco Restaurants, Inc		277
	41,277	*	Denny’s Corp		608
	10,362	e	DineEquity, Inc		843
	28,536		Domino’s Pizza, Inc		8,412
	43,999	*	Drive Shack, Inc		262
	49,730		Dunkin Brands Group, Inc		3,666
	14,501	*,e	El Pollo Loco Holdings, Inc		182
	44,594	*,e	Eldorado Resorts, Inc		2,167
	2,242	*,e	Empire Resorts, Inc		21
	117,907		Extended Stay America, Inc		2,385
	20,469	*	Fiesta Restaurant Group, Inc		548
	7,389	*,e	Golden Entertainment, Inc		177
	1,897		Graham Holdings Co		1,099
	32,189	*	Grand Canyon Education, Inc		3,631
	129,519		H&R Block, Inc		3,335
	14,706	*	Habit Restaurants, Inc		235
	65,914	*	Hilton Grand Vacations, Inc		2,182
	183,543		Hilton Worldwide Holdings, Inc		14,827
	76,812	*	Houghton Mifflin Harcourt Co		538
	32,335		Hyatt Hotels Corp		2,574
	76,027	e	International Game Technology plc		1,502
	18,045		International Speedway Corp (Class A)		790
	10,324	*	J Alexander’s Holdings, Inc		123
	21,801		Jack in the Box, Inc		1,828
	26,055	*	K12, Inc		461
	236,734		Las Vegas Sands Corp		14,045
	26,148	*	Laureate Education, Inc		404
	10,890	*	Lindblad Expeditions Holdings, Inc		162
	195,362		Marriott International, Inc (Class A)		25,794
	28,647		Marriott Vacations Worldwide Corp		3,201
	523,121		McDonald’s Corp		87,513
	350,417		MGM Resorts International		9,780
	7,140	*	Monarch Casino & Resort, Inc		325
	2,378		Nathan’s Famous, Inc		196
	8,091	*,e	Noodles & Co		98
	139,835	*	Norwegian Cruise Line Holdings Ltd		8,031
	18,811	e	Papa John’s International, Inc		965
	60,160	*	Penn National Gaming, Inc		1,980
	38,765	*,e	Pinnacle Entertainment, Inc		1,306

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	60,595		Planet Fitness, Inc	$	3,274
	10,854	*	PlayAGS, Inc		320
	16,455	*,e	Potbelly Corp		202
	6,547		RCI Hospitality Holdings, Inc		194
	11,433	*	Red Lion Hotels Corp		143
	9,211	*	Red Robin Gourmet Burgers, Inc		370
	48,687		Red Rock Resorts, Inc		1,297
	27,109	*	Regis Corp		554
	115,126		Royal Caribbean Cruises Ltd		14,959
	21,790		Ruth’s Chris Steak House, Inc		687
	37,197	*	Scientific Games Corp (Class A)		945
	30,308	*	SeaWorld Entertainment, Inc		953
	120,571		Service Corp International		5,329
	86,396	*	ServiceMaster Global Holdings, Inc		5,359
	15,620	*,e	Shake Shack, Inc		984
	48,601	e	Six Flags Entertainment Corp		3,393
	29,466	e	Sonic Corp		1,277
	27,603	*	Sotheby’s (Class A)		1,358
	9,984		Speedway Motorsports, Inc		178
	894,568		Starbucks Corp		50,847
	15,126		Strategic Education Inc		2,073
	48,860		Texas Roadhouse, Inc (Class A)		3,386
	26,170	e	Vail Resorts, Inc		7,182
	26,120	*,e	Weight Watchers International, Inc		1,880
	134,006		Wendy’s		2,297
	21,048		Wingstop, Inc		1,437
	68,964		Wyndham Hotels & Resorts, Inc		3,832
	68,964		Wyndham Worldwide Corp		2,990
	70,123		Wynn Resorts Ltd		8,910
	252,546		Yum China Holdings, Inc		8,867
	213,529		Yum! Brands, Inc		19,412
	14,098	*	Zoe’s Kitchen, Inc		179
			TOTAL CONSUMER SERVICES		434,485
DIVERSIFIED FINANCIALS - 3.6%
	38,253		Affiliated Managers Group, Inc		5,230
	21,134		AG Mortgage Investment Trust		384
	321,027		AGNC Investment Corp		5,981
	293,945		Ally Financial, Inc		7,775
	478,311		American Express Co		50,935
	98,617		Ameriprise Financial, Inc		14,562
	856,585		Annaly Capital Management, Inc		8,763
	70,479		Anworth Mortgage Asset Corp		326
	52,300		Apollo Commercial Real Estate Finance, Inc		987
	35,777	e	Arbor Realty Trust, Inc		411
	22,112		Ares Commercial Real Estate Corp		309
	16,506	e	Arlington Asset Investment Corp (Class A)		154
	26,163	*,e	ARMOUR Residential REIT, Inc		587
	32,135		Artisan Partners Asset Management, Inc		1,041
	4,316	e	Associated Capital Group, Inc		184
	66,142		AXA Equitable Holdings, Inc		1,419
	10,240		B. Riley Financial, Inc		232
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		449
	626,855		Bank of New York Mellon Corp		31,963

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	166,153		BGC Partners, Inc (Class A)	$	1,964
	82,640		BlackRock, Inc		38,951
	74,746	e	Blackstone Mortgage Trust, Inc		2,505
	48,331	*	Cannae Holdings, Inc		1,013
	325,195		Capital One Financial Corp		30,871
	71,072		Capstead Mortgage Corp		562
	79,012		CBOE Holdings, Inc		7,582
	808,368		Charles Schwab Corp		39,731
	7,318		Cherry Hill Mortgage Investment Corp		132
	126,276	e	Chimera Investment Corp		2,289
	230,638		CME Group, Inc		39,257
	15,440	e	Cohen & Steers, Inc		627
	56,629	e	Colony Credit Real Estate, Inc		1,245
	18,127	*,e	Cowen Group, Inc		295
	8,085	*	Credit Acceptance Corp		3,542
	7,834	*	Curo Group Holdings Corp		237
	2,179		Diamond Hill Investment Group, Inc		360
	237,721		Discover Financial Services		18,174
	19,156	*	Donnelley Financial Solutions, Inc		343
	33,323		Dynex Capital, Inc		213
	180,320	*	E*TRADE Financial Corp		9,447
	78,977		Eaton Vance Corp		4,151
	11,344	*	Elevate Credit, Inc		91
	17,368	*,e	Encore Capital Group, Inc		623
	23,911	*	Enova International, Inc		689
	29,096		Evercore Partners, Inc (Class A)		2,926
	22,197		Exantas Capital Corp		244
	38,445	*,e	Ezcorp, Inc (Class A)		411
	27,381		Factset Research Systems, Inc		6,125
	68,886	e	Federated Investors, Inc (Class B)		1,662
	96,122	*	FGL Holdings		860
	30,190		FirstCash, Inc		2,476
	12,579	*	Focus Financial Partners, Inc		597
	216,162		Franklin Resources, Inc		6,573
	23,847	e	Gain Capital Holdings, Inc		155
	4,049		GAMCO Investors, Inc (Class A)		95
	237,472		Goldman Sachs Group, Inc		53,251
	31,227		Granite Point Mortgage Trust, Inc		602
	8,938		Great Ajax Corp		122
	33,057	*	Green Dot Corp		2,936
	19,893	e	Greenhill & Co, Inc		524
	10,099		Hamilton Lane, Inc		447
	15,460		Houlihan Lokey, Inc		695
	47,028		Interactive Brokers Group, Inc (Class A)		2,601
	384,342		IntercontinentalExchange Group, Inc		28,783
	11,369	*	INTL FCStone, Inc		549
	270,619		Invesco Ltd		6,192
	45,475		Invesco Mortgage Capital, Inc		719
	24,759		Investment Technology Group, Inc		536
	211,642		Jefferies Financial Group, Inc		4,648
	7,773		KKR Real Estate Finance Trust, Inc		157
	49,496		Ladder Capital Corp		838
	73,441		Ladenburg Thalmann Financial Services, Inc		198

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	76,930		Lazard Ltd (Class A)	$	3,703
	62,850		Legg Mason, Inc		1,963
	214,482	*	LendingClub Corp		832
	63,483		LPL Financial Holdings, Inc		4,095
	23,522		MarketAxess Holdings, Inc		4,198
	6,533		Marlin Business Services Corp		188
	270,747		MFA Mortgage Investments, Inc		1,990
	26,390		Moelis & Co		1,446
	112,759		Moody’s Corp		18,853
	837,188		Morgan Stanley		38,988
	13,834		Morningstar, Inc		1,742
	60,080		MSCI, Inc (Class A)		10,659
	81,850		NASDAQ OMX Group, Inc		7,023
	166,451		Navient Corp		2,244
	14,990		Nelnet, Inc (Class A)		857
	213,603		New Residential Investment Corp		3,806
	75,449		New York Mortgage Trust, Inc		459
	22,218	*,m	NewStar Financial, Inc		6
	138,730		Northern Trust Corp		14,169
	40,173		OM Asset Management plc		498
	36,046	*	On Deck Capital, Inc		273
	51,991	*	OneMain Holdings, Inc		1,747
	7,363		Oppenheimer Holdings, Inc		233
	23,694	e	Orchid Island Capital, Inc		172
	47,765	e	PennyMac Mortgage Investment Trust		967
	17,372		Pico Holdings, Inc		218
	10,272		Piper Jaffray Cos		784
	13,025	e	PJT Partners, Inc		682
	33,753	*,e	PRA Group, Inc		1,215
	9,591		Pzena Investment Management, Inc (Class A)		92
	86,900		Raymond James Financial, Inc		7,999
	10,497	*	Ready Capital Corp		175
	49,700		Redwood Trust, Inc		807
	8,577	*	Regional Management Corp		247
	168,578		S&P Global, Inc		32,938
	16,951	*	Safeguard Scientifics, Inc		158
	78,809		Santander Consumer USA Holdings, Inc		1,579
	87,401		SEI Investments Co		5,340
	5,338		Silvercrest Asset Management Group, Inc		74
	313,613	*	SLM Corp		3,497
	247,347		State Street Corp		20,723
	47,909		Stifel Financial Corp		2,456
	508,652		Synchrony Financial		15,809
	159,466		T Rowe Price Group, Inc		17,411
	192,271		TD Ameritrade Holding Corp		10,158
	7,897		TPG RE Finance Trust, Inc		158
	131,331		Two Harbors Investment Corp		1,961
	18,355	e	Virtu Financial, Inc		375
	4,800		Virtus Investment Partners, Inc		546
	115,069		Voya Financial, Inc		5,715
	58,496	e	Waddell & Reed Financial, Inc (Class A)		1,239
	28,538		Western Asset Mortgage Capital Corp		286
	5,409		Westwood Holdings Group, Inc		280
	84,317		WisdomTree Investments, Inc		715

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,248	*	World Acceptance Corp	$	486
			TOTAL DIVERSIFIED FINANCIALS		717,742
ENERGY - 5.7%
	109,725	*	Abraxas Petroleum Corp		256
	1,730		Adams Resources & Energy, Inc		73
	64,681	*,e	Alta Mesa Resources, Inc		270
	351,568		Anadarko Petroleum Corp		23,699
	96,133		Andeavor		14,756
	132,421	*,e	Antero Resources Corp		2,345
	260,509		Apache Corp		12,418
	52,623	*	Apergy Corp		2,292
	28,129	*,e	Approach Resources, Inc		63
	9,586	e	Arch Coal, Inc		857
	85,865		Archrock, Inc		1,048
	20,832	*	Ardmore Shipping Corp		135
	286,729		Baker Hughes a GE Co		9,700
	12,272	*	Basic Energy Services, Inc		123
	14,562	*	Bonanza Creek Energy, Inc		434
	26,221	*,e	Bristow Group, Inc		318
	33,520	*	C&J Energy Services, Inc		697
	283,011		Cabot Oil & Gas Corp		6,373
	16,011	*	Cactus, Inc		613
	30,573	*	California Resources Corp		1,484
	145,414	*,e	Callon Petroleum Co		1,744
	15,028	*,e	CARBO Ceramics, Inc		109
	45,074	*	Carrizo Oil & Gas, Inc		1,136
	124,454	*,e	Centennial Resource Development, Inc		2,719
	155,280	*	Cheniere Energy, Inc		10,790
	478,828	*,e	Chesapeake Energy Corp		2,150
	1,279,718		Chevron Corp		156,484
	61,229		Cimarex Energy Co		5,691
	96,211	*	Clean Energy Fuels Corp		250
	54,879	*	Cloud Peak Energy, Inc		126
	128,347	*	CNX Resources Corp		1,837
	132,830	*	Concho Resources, Inc		20,290
	783,276		ConocoPhillips		60,626
	20,666	*	CONSOL Energy, Inc		843
	64,271	*	Continental Resources, Inc		4,388
	22,043	*,e	Covia Holdings Corp		198
	11,149		CVR Energy, Inc		448
	56,457	e	Delek US Holdings, Inc		2,395
	280,409	*	Denbury Resources, Inc		1,739
	356,557		Devon Energy Corp		14,241
	55,111		DHT Holdings, Inc		259
	38,317	*,e	Diamond Offshore Drilling, Inc		766
	67,074	e	Diamondback Energy, Inc		9,068
	20,589	*	Dorian LPG Ltd		164
	27,635	*	Dril-Quip, Inc		1,444
	7,121	*	Earthstone Energy, Inc		67
	61,180	*,e	Eclipse Resources Corp		73
	59,603	*	Energen Corp		5,136
	21,016	*	Energy XXI Gulf Coast, Inc		176

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	389,340		EOG Resources, Inc	$	49,668
	28,367	*,e	EP Energy Corp		66
	180,649		EQT Corp		7,990
	14,364	*	Era Group, Inc		177
	17,517		Evolution Petroleum Corp		194
	23,313	*	Exterran Corp		619
	87,596	*	Extraction Oil & Gas, Inc		989
	2,853,869	d	Exxon Mobil Corp		242,636
	49,153	*	Forum Energy Technologies, Inc		509
	36,662	e	Frank’s International NV		318
	52,498	e	Frontline Ltd		305
	15,611	*,e	FTS International, Inc		184
	32,033		GasLog Ltd		633
	69,477	e	Golar LNG Ltd		1,931
	26,945		Green Plains Renewable Energy, Inc		463
	109,431	*	Gulfport Energy Corp		1,139
	42,984	*,e	Halcon Resources Corp		192
	10,340		Hallador Energy Co		64
	593,991		Halliburton Co		24,074
	100,808	*	Helix Energy Solutions Group, Inc		996
	67,802		Helmerich & Payne, Inc		4,663
	180,836		Hess Corp		12,944
	21,135	*	HighPoint Resources Corp		103
	110,468		HollyFrontier Corp		7,722
	23,510	*	Independence Contract Drilling, Inc		116
	20,967	*	International Seaways, Inc		420
	7,203	*	ION Geophysical Corp		112
	823	*	Isramco, Inc		100
	22,747	*,e	Jagged Peak Energy, Inc		315
	22,628	*	Keane Group, Inc		280
	7,122	*	Key Energy Services, Inc		81
	1,295,459		Kinder Morgan, Inc		22,969
	11,654	*,e	KLX Energy Services Holdings, Inc		373
	139,280	*,e	Kosmos Energy LLC		1,302
	117,588	*	Laredo Petroleum Holdings, Inc		961
	9,873	e	Liberty Oilfield Services, Inc		213
	29,366	*,e	Lilis Energy, Inc		144
	5,616		Mammoth Energy Services, Inc		163
	580,770		Marathon Oil Corp		13,520
	300,892		Marathon Petroleum Corp		24,062
	64,577	*	Matador Resources Co		2,134
	19,934	*	Matrix Service Co		491
	126,473	*	McDermott International, Inc		2,331
	7,581	*	Midstates Petroleum Co, Inc		68
	114,242	e	Murphy Oil Corp		3,809
	203,104		Nabors Industries Ltd		1,251
	256,371		National Oilwell Varco, Inc		11,044
	9,713	*,e	Natural Gas Services Group, Inc		205
	7,613	*,e	NCS Multistage Holdings, Inc		126
	123,312	*	Newfield Exploration Co		3,555
	63,344	*	Newpark Resources, Inc		656
	5,415	*	Nine Energy Service, Inc		166
	165,932	*	Noble Corp plc		1,167
	330,855		Noble Energy, Inc		10,319

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	68,002	e	Nordic American Tanker Shipping	$	142
	73,198	*,e	Northern Oil And Gas, Inc		293
	170,623	*	Oasis Petroleum, Inc		2,419
	517,235		Occidental Petroleum Corp		42,501
	37,005	*	Ocean Rig UDW, Inc		1,281
	71,446	*	Oceaneering International, Inc		1,972
	38,178	*	Oil States International, Inc		1,268
	279,417		Oneok, Inc		18,942
	26,237	*	Overseas Shipholding Group, Inc		83
	10,734		Panhandle Oil and Gas, Inc (Class A)		198
	23,180	*	Par Pacific Holdings, Inc		473
	167,421	*	Parsley Energy, Inc		4,897
	150,779		Patterson-UTI Energy, Inc		2,580
	78,916		PBF Energy, Inc		3,939
	47,717	*	PDC Energy, Inc		2,336
	54,624		Peabody Energy Corp		1,947
	10,090	*	Penn Virginia Corp		813
	9,723	*	PHI, Inc		91
	282,022		Phillips 66		31,790
	42,944	*	Pioneer Energy Services Corp		127
	115,598		Pioneer Natural Resources Co		20,136
	48,018	*,e	ProPetro Holding Corp		792
	173,948	*	Questar Market Resources, Inc		1,969
	139,657	e	Range Resources Corp		2,373
	27,182	*	Renewable Energy Group, Inc		783
	15,559	*,e	Resolute Energy Corp		588
	4,186	*	Rex American Resources Corp		316
	9,601	*	RigNet, Inc		195
	32,471	*	Ring Energy, Inc		322
	83,867	*	Rowan Cos plc		1,579
	42,512	e	RPC, Inc		658
	31,286	*,e	Sanchez Energy Corp		72
	24,071	*,e	SandRidge Energy, Inc		262
	937,979		Schlumberger Ltd		57,142
	121,758	e	Scorpio Tankers, Inc		245
	11,768	*	SEACOR Holdings, Inc		581
	11,831	*	SEACOR Marine Holdings, Inc		268
	6,869	*,e	Select Energy Services, Inc		81
	48,551	e	SemGroup Corp		1,071
	45,041	e	Ship Finance International Ltd		626
	4,694	*	SilverBow Resources, Inc		125
	80,594		SM Energy Co		2,541
	12,316	*,e	Smart Sand, Inc		51
	6,855	*,e	Solaris Oilfield Infrastructure, Inc		130
	398,926	*	Southwestern Energy Co		2,039
	143,792	*	SRC Energy, Inc		1,278
	111,107	*	Superior Energy Services		1,082
	13,911	*	Talos Energy, Inc		457
	141,390	e	Targa Resources Investments, Inc		7,962
	36,192	e	Teekay Corp		244
	85,424	e	Teekay Tankers Ltd (Class A)		84
	39,279	*,e	Tellurian, Inc		352
	32,701	*	Tetra Technologies, Inc		148

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	16,234	*,e	Tidewater, Inc	$	506
	283,324	*,e	Transocean Ltd (NYSE)		3,952
	36,980	*	Unit Corp		964
	95,169	*	Uranium Energy Corp		164
	58,687	e	US Silica Holdings Inc		1,105
	288,874		Valero Energy Corp		32,859
	14,396	*	W&T Offshore, Inc		139
	643,511	*,e	Weatherford International Ltd		1,744
	65,205	*	Whiting Petroleum Corp		3,458
	13,341	*,e	WildHorse Resource Development Corp		315
	820,670		Williams Cos, Inc		22,314
	49,281	e	World Fuel Services Corp		1,364
	284,313	*	WPX Energy, Inc		5,720
			TOTAL ENERGY		1,143,591
FOOD & STAPLES RETAILING - 0.9%
	19,849		Andersons, Inc		747
	22,168		Casey’s General Stores, Inc		2,862
	14,374	*	Chefs’ Warehouse Holdings, Inc		523
	10,217		Ingles Markets, Inc (Class A)		350
	533,947		Kroger Co		15,543
	6,410	*	Natural Grocers by Vitamin C		108
	70,016	*	Performance Food Group Co		2,332
	14,866		Pricesmart, Inc		1,203
	763,555	*,e	Rite Aid Corp		977
	17,661	*	Smart & Final Stores, Inc		101
	27,344		Spartan Stores, Inc		549
	72,919	*	Sprouts Farmers Market, Inc		1,999
	27,415	*,e	SUPERVALU, Inc		883
	319,624		Sysco Corp		23,412
	36,929	*	United Natural Foods, Inc		1,106
	144,258	*	US Foods Holding Corp		4,446
	4,843		Village Super Market (Class A)		132
	568,959		Walgreens Boots Alliance, Inc		41,477
	958,199		Walmart, Inc		89,985
	4,684		Weis Markets, Inc		203
			TOTAL FOOD & STAPLES RETAILING		188,938
FOOD, BEVERAGE & TOBACCO - 3.7%
	78,794	*	22nd Century Group, Inc		221
	2,319		Alico, Inc		78
	1,272,781		Altria Group, Inc		76,761
	369,842		Archer Daniels Midland Co		18,592
	48,393	e	B&G Foods, Inc (Class A)		1,328
	5,887	*	Boston Beer Co, Inc (Class A)		1,692
	38,532		Brown-Forman Corp		1,957
	192,742		Brown-Forman Corp (Class B)		9,743
	92,994		Bunge Ltd		6,390
	11,455	e	Calavo Growers, Inc		1,107
	22,629		Cal-Maine Foods, Inc		1,093
	128,062	e	Campbell Soup Co		4,691
	61,868	*,e	Castle Brands, Inc		66
	3,092		Coca-Cola Bottling Co Consolidated		564
	2,565,566		Coca-Cola Co		118,503

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	261,189		ConAgra Foods, Inc	$	8,873
	104,485		Constellation Brands, Inc (Class A)		22,529
	293,775		Costco Wholesale Corp		69,002
	7,653	*	Craft Brewers Alliance, Inc		125
	118,243	*	Darling International, Inc		2,284
	65,223		Dean Foods Co		463
	5,320	*	Farmer Bros Co		140
	122,146		Flowers Foods, Inc		2,279
	20,613		Fresh Del Monte Produce, Inc		699
	15,781	*	Freshpet, Inc		579
	404,401		General Mills, Inc		17,357
	73,323	*	Hain Celestial Group, Inc		1,989
	89,522		Hershey Co		9,131
	177,534	e	Hormel Foods Corp		6,995
	57,996	*	Hostess Brands, Inc		642
	46,997		Ingredion, Inc		4,933
	10,369		J&J Snack Foods Corp		1,565
	78,341		J.M. Smucker Co		8,039
	5,780		John B. Sanfilippo & Son, Inc		413
	169,417		Kellogg Co		11,863
	95,191		Keurig Dr Pepper, Inc		2,206
	402,921		Kraft Heinz Co		22,205
	99,893		Lamb Weston Holdings, Inc		6,653
	13,060		Lancaster Colony Corp		1,949
	19,323	*	Landec Corp		278
	8,386		Limoneira Co		219
	81,380		McCormick & Co, Inc		10,722
	9,193	e	MGP Ingredients, Inc		726
	109,880		Molson Coors Brewing Co (Class B)		6,758
	970,651		Mondelez International, Inc		41,699
	268,323	*	Monster Beverage Corp		15,638
	8,574	e	National Beverage Corp		1,000
	951,186		PepsiCo, Inc		106,343
	1,051,813		Philip Morris International, Inc		85,765
	9,633	*	Pilgrim’s Pride Corp		174
	76,342		Pinnacle Foods, Inc		4,948
	40,868	*	Post Holdings, Inc		4,007
	18,742	*	Primo Water Corp		338
	14,731	e	Sanderson Farms, Inc		1,523
	192		Seaboard Corp		712
	5,451	*	Seneca Foods Corp		184
	40,880	*,e	Simply Good Foods Co		795
	10,980	e	Tootsie Roll Industries, Inc		321
	40,066	*	TreeHouse Foods, Inc		1,917
	4,760		Turning Point Brands, Inc		197
	189,676		Tyson Foods, Inc (Class A)		11,291
	17,023		Universal Corp		1,106
	50,603	e	Vector Group Ltd		697
			TOTAL FOOD, BEVERAGE & TOBACCO		743,057
HEALTH CARE EQUIPMENT & SERVICES - 6.5%
	5,996	*,e	AAC Holdings, Inc		46
	1,155,029		Abbott Laboratories		84,733

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	28,689	*	Abiomed, Inc	$	12,903
	56,824	*,e	Acadia Healthcare Co, Inc		2,000
	58,290	*	Accuray, Inc		262
	5,501	*	Addus HomeCare Corp		386
	216,041		Aetna Inc		43,824
	52,525	*	Align Technology, Inc		20,549
	133,589	*	Allscripts Healthcare Solutions, Inc		1,904
	20,714	*	Amedisys, Inc		2,588
	6,596	*	American Renal Associates Holdings, Inc		143
	108,196		AmerisourceBergen Corp		9,978
	31,962	*	AMN Healthcare Services, Inc		1,748
	26,107	*	Angiodynamics, Inc		568
	10,943	*	Anika Therapeutics, Inc		462
	104,354	*	Antares Pharma, Inc		351
	175,230		Anthem, Inc		48,022
	16,786	*,e	Apollo Medical Holdings, Inc		370
	27,261	*	athenahealth, Inc		3,642
	22,609	*	AtriCure, Inc		792
	1,019		Atrion Corp		708
	33,829	*,e	Avanos Medical, Inc		2,317
	18,090	*	AxoGen, Inc		667
	338,312		Baxter International, Inc		26,080
	178,042		Becton Dickinson & Co		46,469
	86,257	*	BioScrip, Inc		267
	19,708	*	BioTelemetry, Inc		1,270
	938,346	*	Boston Scientific Corp		36,126
	135,933	*	Brookdale Senior Living, Inc		1,336
	25,974		Cantel Medical Corp		2,391
	19,478	*	Capital Senior Living Corp		184
	212,073		Cardinal Health, Inc		11,452
	23,626	*	Cardiovascular Systems, Inc		925
	45,319	*	Castlight Health, Inc		122
	138,393	*	Centene Corp		20,037
	216,297	*	Cerner Corp		13,932
	71,510	*	Cerus Corp		516
	10,898		Chemed Corp		3,483
	156,553		Cigna Corp		32,602
	11,529	*	Civitas Solutions, Inc		170
	8,700	e	Computer Programs & Systems, Inc		234
	19,875		Conmed Corp		1,574
	32,161		Cooper Cos, Inc		8,913
	7,512	*	Corvel Corp		453
	25,224	*	Cross Country Healthcare, Inc		220
	23,064	*	CryoLife, Inc		812
	16,944	*,e	CryoPort, Inc		217
	10,004	*	Cutera, Inc		326
	685,025		CVS Health Corp		53,925
	19,235	*	CytoSorbents Corp		248
	415,093		Danaher Corp		45,104
	92,449	*	DaVita, Inc		6,622
	149,427	e	Dentsply Sirona, Inc		5,639
	60,646	*	DexCom, Inc		8,675
	34,269	*	Diplomat Pharmacy, Inc		665
	142,058	*	Edwards Lifesciences Corp		24,732

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	62,923		Encompass Health Corp	$	4,905
	59,131	*,e	Endologix, Inc		113
	35,447		Ensign Group, Inc		1,344
	84,226	*	Envision Healthcare Corp		3,852
	45,708	*,e	Evolent Health, Inc		1,298
	376,579	*	Express Scripts Holding Co		35,779
	4,418	*	FONAR Corp		110
	28,070	*	Genesis Health Care, Inc		38
	30,765	*	GenMark Diagnostics, Inc		226
	20,642	*,e	Glaukos Corp		1,340
	48,523	*	Globus Medical, Inc		2,754
	36,085	*	Haemonetics Corp		4,135
	184,554		HCA Holdings, Inc		25,675
	35,870	*	HealthEquity, Inc		3,386
	18,780		HealthStream, Inc		582
	106,184	*	Henry Schein, Inc		9,029
	4,605	*	Heska Corp		522
	47,607		Hill-Rom Holdings, Inc		4,494
	60,877	*	HMS Holdings Corp		1,997
	184,551	*	Hologic, Inc		7,563
	91,469		Humana, Inc		30,964
	10,885	*	ICU Medical, Inc		3,078
	57,119	*	Idexx Laboratories, Inc		14,260
	12,244	*,e	Inogen Inc		2,989
	43,464	*,e	Inovalon Holdings, Inc		437
	5,311	*,e	Inspire Medical Systems, Inc		223
	41,898	*,e	Insulet Corp		4,439
	22,691	*	Integer Holding Corp		1,882
	44,740	*	Integra LifeSciences Holdings Corp		2,947
	4,136	*	IntriCon Corp		232
	75,275	*	Intuitive Surgical, Inc		43,208
	23,110	e	Invacare Corp		336
	16,105	*,e	iRhythm Technologies, Inc		1,524
	29,171	*	K2M Group Holdings, Inc		798
	66,643	*	Laboratory Corp of America Holdings		11,575
	18,233	*	Lantheus Holdings, Inc		273
	9,523	e	LeMaitre Vascular, Inc		369
	19,826	*	LHC Group, Inc		2,042
	26,991	*	LifePoint Hospitals, Inc		1,738
	33,006	*	LivaNova plc		4,092
	16,931	*	Magellan Health Services, Inc		1,220
	32,408	*	Masimo Corp		4,036
	136,809		McKesson Corp		18,148
	40,701	*	Medidata Solutions, Inc		2,984
	63,033	*	MEDNAX, Inc		2,941
	906,652	e	Medtronic plc		89,187
	31,965		Meridian Bioscience, Inc		476
	35,220	*	Merit Medical Systems, Inc		2,164
	41,890	*	Molina Healthcare, Inc		6,229
	12,716	*,e	NantHealth, Inc		20
	7,753		National Healthcare Corp		584
	5,598		National Research Corp		216
	24,197	*	Natus Medical, Inc		863

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	35,733	*	Neogen Corp	$	2,556
	19,942	*,e	Nevro Corp		1,137
	37,773	*	NextGen Healthcare, Inc		758
	41,426	*,e	Novocure Ltd		2,171
	36,380	*	NuVasive, Inc		2,582
	9,426	*	Nuvectra Corp		207
	45,234	*	NxStage Medical, Inc		1,262
	26,681	*	Omnicell, Inc		1,918
	40,487	*	OraSure Technologies, Inc		626
	12,159	*	Orthofix International NV		703
	43,714	e	Owens & Minor, Inc		722
	14,688	*	Oxford Immunotec Global plc		238
	57,408	e	Patterson Cos, Inc		1,404
	21,136	*	Penumbra, Inc		3,164
	5,304	*,e	PetIQ, Inc		209
	33,935	*	Premier, Inc		1,554
	8,662	*	Providence Service Corp		583
	6,666	*,e	Pulse Biosciences, Inc		95
	92,408		Quest Diagnostics, Inc		9,972
	20,943	*,e	Quidel Corp		1,365
	72,154	*,e	R1 RCM, Inc		733
	25,914	*	RadNet, Inc		390
	93,908		Resmed, Inc		10,831
	37,335	*,e	Rockwell Medical, Inc		158
	38,631	*	RTI Biologics, Inc		174
	77,335	*	Select Medical Holdings Corp		1,423
	45,067	*,e	Senseonics Holdings, Inc		215
	10,185	*,e	Sientra, Inc		243
	7,680		Simulations Plus, Inc		155
	26,141	*	Staar Surgical Co		1,255
	54,225		STERIS Plc		6,203
	227,867		Stryker Corp		40,487
	13,353	*,e	Surgery Partners, Inc		220
	10,275	*	SurModics, Inc		767
	6,560	*	Tabula Rasa HealthCare, Inc		533
	6,719	*,e	Tactile Systems Technology, Inc		477
	30,224	*	Tandem Diabetes Care, Inc		1,295
	38,788	*,e	Teladoc, Inc		3,349
	29,977		Teleflex, Inc		7,977
	59,665	*	Tenet Healthcare Corp		1,698
	26,395	*,e	Tivity Health, Inc		849
	105,717	*,e	TransEnterix, Inc		613
	18,039	*,e	Triple-S Management Corp (Class B)		341
	642,114		UnitedHealth Group, Inc		170,828
	57,391		Universal Health Services, Inc (Class B)		7,337
	9,158		US Physical Therapy, Inc		1,086
	2,349		Utah Medical Products, Inc		221
	27,229	*	Varex Imaging Corp		780
	61,190	*	Varian Medical Systems, Inc		6,849
	81,875	*	Veeva Systems, Inc		8,914
	19,827	*,e	ViewRay, Inc		186
	20,093	*	Vocera Communications, Inc		735
	31,751	*	WellCare Health Plans, Inc		10,176
	51,937		West Pharmaceutical Services, Inc		6,413

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	76,096	*,e	Wright Medical Group NV	$	2,208
	135,880	e	Zimmer Biomet Holdings, Inc		17,864
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,307,509
HOUSEHOLD & PERSONAL PRODUCTS - 1.4%
	7,431	*,e	Central Garden & Pet Co		268
	24,471	*	Central Garden and Pet Co (Class A)		811
	167,255		Church & Dwight Co, Inc		9,930
	88,640		Clorox Co		13,332
	573,427		Colgate-Palmolive Co		38,391
	303,286		Coty, Inc		3,809
	41,449	*	Edgewell Personal Care Co		1,916
	15,146	*,e	elf Beauty, Inc		193
	44,546		Energizer Holdings, Inc		2,613
	144,911		Estee Lauder Cos (Class A)		21,058
	69,622	*	Herbalife Ltd		3,798
	12,258	e	Inter Parfums, Inc		790
	234,203		Kimberly-Clark Corp		26,615
	7,966		Medifast, Inc		1,765
	5,685	e	Natural Health Trends Corp		132
	5,868	*	Nature’s Sunshine Products, Inc		51
	36,417		Nu Skin Enterprises, Inc (Class A)		3,002
	3,981		Oil-Dri Corp of America		154
	1,677,884		Procter & Gamble Co		139,651
	8,319	*,e	Revlon, Inc (Class A)		186
	30,999		Spectrum Brands Holdings, Inc		2,316
	8,349	*	USANA Health Sciences, Inc		1,006
	9,183	e	WD-40 Co		1,580
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		273,367
INSURANCE - 3.9%
	506,507		Aflac, Inc		23,841
	10,050	e	Alleghany Corp		6,558
	233,889		Allstate Corp		23,085
	32,424	*	AMBAC Financial Group, Inc		662
	61,796		American Equity Investment Life Holding Co		2,185
	43,725		American Financial Group, Inc		4,852
	606,866		American International Group, Inc		32,310
	5,469		American National Insurance Co		707
	13,468		Amerisafe, Inc		834
	61,882	e	Amtrust Financial Services, Inc		899
	163,436		Aon plc		25,133
	264,168	*	Arch Capital Group Ltd		7,875
	24,041		Argo Group International Holdings Ltd		1,516
	119,205		Arthur J. Gallagher & Co		8,874
	43,239		Aspen Insurance Holdings Ltd		1,807
	38,716		Assurant, Inc		4,179
	75,307		Assured Guaranty Ltd		3,180
	108,216	*	Athene Holding Ltd		5,590
	58,873		Axis Capital Holdings Ltd		3,398
	1,304,947	*	Berkshire Hathaway, Inc (Class B)		279,402
	80,775	*	Brighthouse Financial, Inc		3,573
	144,728		Brown & Brown, Inc		4,280

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	311,975		Chubb Ltd	$	41,692
	102,852		Cincinnati Financial Corp		7,900
	32,879	*,e	Citizens, Inc (Class A)		276
	17,827		CNA Financial Corp		814
	123,157		Conseco, Inc		2,613
	11,609		Crawford & Co (Class B)		107
	7,812		Donegal Group, Inc (Class A)		111
	11,930	*	eHealth, Inc		337
	6,754		EMC Insurance Group, Inc		167
	23,170		Employers Holdings, Inc		1,050
	8,013	*	Enstar Group Ltd		1,671
	17,977		Erie Indemnity Co (Class A)		2,293
	26,539		Everest Re Group Ltd		6,063
	7,071		FBL Financial Group, Inc (Class A)		532
	10,321		FedNat Holding Co		263
	67,815		First American Financial Corp		3,499
	172,857		FNF Group		6,802
	339,186	*	Genworth Financial, Inc (Class A)		1,414
	6,929		Global Indemnity Ltd		261
	6,616	*,e	Goosehead Insurance, Inc		224
	20,683	*	Greenlight Capital Re Ltd (Class A)		256
	7,438	*	Hallmark Financial Services		82
	30,826		Hanover Insurance Group, Inc		3,803
	238,854		Hartford Financial Services Group, Inc		11,933
	5,533		HCI Group, Inc		242
	8,194	*,e	Health Insurance Innovations, Inc		505
	18,411	e	Heritage Insurance Holdings, Inc		273
	29,606		Horace Mann Educators Corp		1,329
	5,237		Independence Holding Co		188
	1,119		Investors Title Co		188
	12,617		James River Group Holdings Ltd		538
	38,336		Kemper Corp		3,084
	7,037		Kingstone Cos, Inc		134
	10,502		Kinsale Capital Group, Inc		671
	146,331		Lincoln National Corp		9,901
	177,981		Loews Corp		8,940
	48,335		Maiden Holdings Ltd		138
	9,220	*	Markel Corp		10,958
	336,456		Marsh & McLennan Cos, Inc		27,832
	59,989	*,e	MBIA, Inc		641
	20,342	e	Mercury General Corp		1,020
	576,327		Metlife, Inc		26,926
	35,673		National General Holdings Corp		957
	1,551		National Western Life Group, Inc		495
	15,353		Navigators Group, Inc		1,061
	7,308	*	NI Holdings, Inc		123
	192,340		Old Republic International Corp		4,305
	27,126		Primerica, Inc		3,270
	192,618		Principal Financial Group		11,286
	37,307		ProAssurance Corp		1,752
	388,214		Progressive Corp		27,579
	6,904		Protective Insurance Corp		158
	280,599		Prudential Financial, Inc		28,430
	41,571		Reinsurance Group of America, Inc (Class A)		6,010

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	28,612	e	RenaissanceRe Holdings Ltd	$	3,822
	27,824	e	RLI Corp		2,186
	11,093		Safety Insurance Group, Inc		994
	42,211		Selective Insurance Group, Inc		2,680
	11,039		State Auto Financial Corp		337
	15,315		Stewart Information Services Corp		689
	51,271	*	Third Point Reinsurance Ltd		667
	22,143		Tiptree Financial, Inc		145
	76,067		Torchmark Corp		6,594
	178,544		Travelers Cos, Inc		23,159
	15,868	*,e	Trupanion, Inc		567
	16,104		United Fire & Casualty Co		818
	12,682	e	United Insurance Holdings Corp		284
	22,402		Universal Insurance Holdings, Inc		1,088
	142,945		UnumProvident Corp		5,585
	59,812	e	W.R. Berkley Corp		4,781
	2,317		White Mountains Insurance Group Ltd		2,168
	86,010		Willis Towers Watson plc		12,122
			TOTAL INSURANCE		786,523
MATERIALS - 2.9%
	20,886	*,m	A Schulman, Inc		40
	15,014		Advanced Emissions Solutions, Inc		180
	22,501	*	AdvanSix, Inc		764
	16,379	*,e	AgroFresh Solutions, Inc		102
	147,204		Air Products & Chemicals, Inc		24,590
	228,124	*,e	AK Steel Holding Corp		1,118
	73,578	e	Albemarle Corp		7,342
	122,406	*	Alcoa Corp		4,945
	78,013	*,e	Allegheny Technologies, Inc		2,305
	20,501		American Vanguard Corp		369
	36,989		Aptargroup, Inc		3,985
	13,288		Ardagh Group S.A.		222
	43,629		Ashland Global Holdings, Inc		3,659
	62,843		Avery Dennison Corp		6,809
	153,684	*	Axalta Coating Systems Ltd		4,481
	23,190		Balchem Corp		2,599
	233,901		Ball Corp		10,289
	53,485		Bemis Co, Inc		2,599
	79,377	*	Berry Plastics Group, Inc		3,841
	27,727	e	Boise Cascade Co		1,020
	43,691		Cabot Corp		2,740
	31,590		Carpenter Technology Corp		1,862
	90,417		Celanese Corp (Series A)		10,308
	36,798	*	Century Aluminum Co		440
	154,694		CF Industries Holdings, Inc		8,422
	5,158		Chase Corp		620
	119,808		Chemours Co		4,725
	11,678	*	Clearwater Paper Corp		347
	213,712	*,e	Cleveland-Cliffs, Inc		2,706
	119,550	*	Coeur Mining, Inc		637
	83,562		Commercial Metals Co		1,715
	22,798	e	Compass Minerals International, Inc		1,532

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	76,387	*	Crown Holdings, Inc	$	3,667
	45,300		Domtar Corp		2,363
	1,557,879		DowDuPont, Inc		100,187
	34,107		Eagle Materials, Inc		2,907
	92,042		Eastman Chemical Co		8,810
	169,882		Ecolab, Inc		26,634
	60,041	*	Ferro Corp		1,394
	47,286	*,m	Ferroglobe plc		0
	40,724	*,e	Flotek Industries, Inc		98
	89,953		FMC Corp		7,842
	987,023		Freeport-McMoRan Copper & Gold, Inc (Class B)		13,739
	17,819	*	FutureFuel Corp		330
	48,995	*	GCP Applied Technologies, Inc		1,301
	39,231	*	Gold Resource Corp		202
	224,514		Graphic Packaging Holding Co		3,145
	3,993		Greif, Inc		230
	18,292		Greif, Inc (Class A)		982
	34,325		H.B. Fuller Co		1,774
	7,923		Hawkins, Inc		328
	9,402		Haynes International, Inc		334
	335,463		Hecla Mining Co		936
	143,018		Huntsman Corp		3,894
	30,403	*	Ingevity Corp		3,097
	14,138		Innophos Holdings, Inc		628
	17,291		Innospec, Inc		1,327
	52,461		International Flavors & Fragrances, Inc		7,298
	276,554		International Paper Co		13,593
	67,354	*	Intrepid Potash, Inc		242
	12,178		Kaiser Aluminum Corp		1,328
	42,913		Kapstone Paper and Packaging Corp		1,455
	7,156		KMG Chemicals, Inc		541
	15,231	*	Koppers Holdings, Inc		474
	21,628	*	Kraton Polymers LLC		1,020
	14,288		Kronos Worldwide, Inc		232
	104,108		Louisiana-Pacific Corp		2,758
	15,120	*,e	LSB Industries, Inc		148
	215,986		LyondellBasell Industries AF S.C.A		22,141
	42,490		Martin Marietta Materials, Inc		7,731
	14,781		Materion Corp		894
	23,990		Minerals Technologies, Inc		1,622
	233,459		Mosaic Co		7,583
	18,118		Myers Industries, Inc		421
	10,909		Neenah Paper, Inc		941
	5,424		NewMarket Corp		2,199
	348,477		Newmont Mining Corp		10,524
	207,804		Nucor Corp		13,185
	119,149		Olin Corp		3,060
	6,559		Olympic Steel, Inc		137
	32,453	*	Omnova Solutions, Inc		320
	90,414	*	Owens-Illinois, Inc		1,699
	63,758		Packaging Corp of America		6,994
	32,454		PH Glatfelter Co		620
	159,281	*	Platform Specialty Products Corp		1,986
	58,890		PolyOne Corp		2,575

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	164,693		PPG Industries, Inc	$	17,973
	20,162	*	PQ Group Holdings, Inc		352
	191,940		Praxair, Inc		30,851
	9,399		Quaker Chemical Corp		1,901
	31,957	e	Rayonier Advanced Materials, Inc		589
	50,286		Reliance Steel & Aluminum Co		4,289
	41,577		Royal Gold, Inc		3,204
	85,949		RPM International, Inc		5,582
	8,418	*	Ryerson Holding Corp		95
	19,399		Schnitzer Steel Industries, Inc (Class A)		525
	20,766		Schweitzer-Mauduit International, Inc		796
	30,897		Scotts Miracle-Gro Co (Class A)		2,433
	109,559		Sealed Air Corp		4,399
	23,291		Sensient Technologies Corp		1,782
	56,197		Sherwin-Williams Co		25,581
	52,654		Silgan Holdings, Inc		1,464
	58,033		Sonoco Products Co		3,221
	56,197		Southern Copper Corp (NY)		2,424
	156,511		Steel Dynamics, Inc		7,073
	14,267		Stepan Co		1,241
	78,354	*,e	Summit Materials, Inc		1,424
	48,451	*	SunCoke Energy, Inc		563
	207,059	*	Tahoe Resources, Inc		578
	29,755	*,e	TimkenSteel Corp		442
	15,246	*	Trecora Resources		213
	19,671		Tredegar Corp		426
	23,427		Trinseo S.A.		1,834
	47,159		Tronox Ltd		564
	4,630	*	UFP Technologies, Inc		170
	1,357		United States Lime & Minerals, Inc		107
	113,186		United States Steel Corp		3,450
	11,048	*,e	US Concrete, Inc		507
	16,839		Valhi, Inc		38
	120,028		Valvoline, Inc		2,582
	22,885	*	Verso Corp		771
	90,183		Vulcan Materials Co		10,028
	11,178	e	Warrior Met Coal, Inc		302
	24,489		Westlake Chemical Corp		2,035
	170,131		WestRock Co		9,092
	31,289	*	Worthington Industries, Inc		1,357
	48,393		WR Grace and Co		3,458
			TOTAL MATERIALS		572,899
	MEDIA - 2.2%
	39,663	e	AMC Entertainment Holdings, Inc		813
	27,567	*	AMC Networks, Inc		1,829
	2,913		Cable One, Inc		2,574
	218,673		CBS Corp (Class B)		12,563
	57,360	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		215
	117,498	*	Charter Communications, Inc		38,290
	76,895		Cinemark Holdings, Inc		3,091
	28,047		Clear Channel Outdoor Holdings, Inc (Class A)		167

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	3,070,306		Comcast Corp (Class A)	$	108,720
	772	*,e	Daily Journal Corp		186
	89,117	*,e	Discovery, Inc (Class A)		2,852
	235,160	*	Discovery, Inc (Class C)		6,956
	158,597	*	DISH Network Corp (Class A)		5,671
	11,002		Emerald Expositions Events, Inc		181
	88,350	e	Entercom Communications Corp (Class A)		698
	50,932		Entravision Communications Corp (Class A)		250
	20,620	*,e	Eros International plc		248
	42,935		EW Scripps Co (Class A)		708
	10,504	*,e	Fluent, Inc		23
	86,657		Gannett Co, Inc		867
	68,741	*	GCI Liberty, Inc		3,506
	46,930	*	Gray Television, Inc		821
	11,523	*	Hemisphere Media Group, Inc		161
	42,177	*	Imax Corp		1,088
	256,720		Interpublic Group of Cos, Inc		5,871
	30,218		John Wiley & Sons, Inc (Class A)		1,831
	7,655	*	Liberty Braves Group (Class A)		209
	25,374	*	Liberty Braves Group (Class C)		691
	17,476	*	Liberty Broadband Corp (Class A)		1,474
	74,265	*	Liberty Broadband Corp (Class C)		6,261
	77,076	*	Liberty Latin America Ltd		1,590
	29,453	*,e	Liberty Latin America Ltd (Class A)		614
	15,619	*	Liberty Media Group (Class A)		556
	123,792	*	Liberty Media Group (Class C)		4,604
	50,898	*	Liberty SiriusXM Group (Class A)		2,211
	102,962	*	Liberty SiriusXM Group (Class C)		4,474
	37,150	e	Lions Gate Entertainment Corp (Class A)		906
	71,817	e	Lions Gate Entertainment Corp (Class B)		1,673
	96,974	*	Live Nation, Inc		5,282
	9,932	*	Loral Space & Communications, Inc		451
	13,200	*	Madison Square Garden Co		4,162
	14,211		Marcus Corp		598
	37,799	*	MDC Partners, Inc		157
	27,920	e	Meredith Corp		1,425
	43,336	*	MSG Networks, Inc		1,118
	46,358		National CineMedia, Inc		491
	36,183		New Media Investment Group, Inc		568
	89,935	e	New York Times Co (Class A)		2,082
	268,456		News Corp		3,541
	86,319		News Corp (Class B)		1,174
	31,898		Nexstar Broadcasting Group, Inc (Class A)		2,597
	146,186		Omnicom Group, Inc		9,944
	12,373	*	Reading International, Inc		195
	3,161		Saga Communications, Inc		114
	19,984		Scholastic Corp		933
	51,858		Sinclair Broadcast Group, Inc (Class A)		1,470
	877,533	e	Sirius XM Holdings, Inc		5,546
	156,124		TEGNA, Inc		1,867
	52,414		Tribune Co		2,014
	15,283	*	tronc, Inc		250
	693,032		Twenty-First Century Fox, Inc		32,108
	320,320		Twenty-First Century Fox, Inc (Class B)		14,677

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,706		Viacom, Inc	$	282
	233,649		Viacom, Inc (Class B)		7,888
	1,001,787		Walt Disney Co		117,149
	15,148	*,e	WideOpenWest, Inc		170
	27,047		World Wrestling Entertainment, Inc (Class A)		2,616
			TOTAL MEDIA		446,312
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.0%
	1,020,736		AbbVie, Inc		96,541
	18,729	*,e	Abeona Therapeutics, Inc		240
	70,913	*,e	Acadia Pharmaceuticals, Inc		1,472
	18,841	*,e	Accelerate Diagnostics, Inc		432
	22,847	*,e	Acceleron Pharma, Inc		1,308
	21,294	*	Achaogen, Inc		85
	86,253	*	Achillion Pharmaceuticals, Inc		317
	14,790	*,e	Aclaris Therapeutics, Inc		215
	31,389	*	Acorda Therapeutics, Inc		617
	12,735	*,e	Adamas Pharmaceuticals, Inc		255
	26,641	*,e	Aduro Biotech, Inc		196
	36,900	*,e	Adverum Biotechnologies, Inc		223
	21,807	*,e	Aerie Pharmaceuticals, Inc		1,342
	56,789	*,e	Agenus, Inc		122
	223,758		Agilent Technologies, Inc		15,784
	34,493	*	Agios Pharmaceuticals, Inc		2,660
	25,712	*	Aimmune Therapeutics, Inc		701
	10,845	*,e	Akcea Therapeutics, Inc		380
	26,366	*	Akebia Therapeutics, Inc		233
	64,824	*	Akorn, Inc		841
	6,175	*	Albireo Pharma, Inc		204
	34,164	*,e	Alder Biopharmaceuticals, Inc		569
	147,168	*	Alexion Pharmaceuticals, Inc		20,458
	110,420	*,e	Alkermes plc		4,686
	5,532	*,e	Allakos, Inc		249
	228,222		Allergan plc		43,472
	60,843	*	Alnylam Pharmaceuticals, Inc		5,325
	25,493	*,e	AMAG Pharmaceuticals, Inc		510
	436,154		Amgen, Inc		90,411
	128,302	*,e	Amicus Therapeutics, Inc		1,551
	53,162	*,e	Amneal Pharmaceuticals, Inc		1,180
	25,774	*	Amphastar Pharmaceuticals, Inc		496
	12,566	*	AnaptysBio, Inc		1,254
	5,767	*	ANI Pharmaceuticals, Inc		326
	24,477	*,e	Apellis Pharmaceuticals, Inc		435
	8,900	*	Aptinyx, Inc		258
	29,050	*	Aratana Therapeutics, Inc		170
	23,940	*,e	Arbutus Biopharma Corp		226
	22,973	*	Ardelyx, Inc		100
	33,642	*	Arena Pharmaceuticals, Inc		1,548
	58,861	*	Arqule, Inc		333
	126,892	*,e	Array Biopharma, Inc		1,929
	58,978	*,e	Arrowhead Research Corp		1,131
	10,043	*	Assembly Biosciences, Inc		373
	44,278	*,e	Assertio Therapeutics, Inc.		260

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	27,557	*,e	Atara Biotherapeutics, Inc	$	1,140
	28,525	*,e	Athenex, Inc		443
	52,762	*,e	Athersys, Inc		111
	21,700	*	Audentes Therapeutics, Inc		859
	68,882	*,e	AVEO Pharmaceuticals, Inc		228
	33,858	*	Avid Bioservices, Inc		232
	19,950	*	Bellicum Pharmaceuticals, Inc		123
	53,741	*,e	BioCryst Pharmaceuticals, Inc		410
	135,513	*	Biogen Idec, Inc		47,878
	18,525	*	Biohaven Pharmaceutical Holding Co Ltd		696
	120,472	*	BioMarin Pharmaceutical, Inc		11,682
	15,362	*	Bio-Rad Laboratories, Inc (Class A)		4,808
	3,856	*	Biospecifics Technologies Corp		226
	25,935		Bio-Techne Corp		5,294
	56,186	*,e	BioTime, Inc		132
	33,689	*	Bluebird Bio, Inc		4,919
	28,144	*,e	Blueprint Medicines Corp		2,197
	1,106,267		Bristol-Myers Squibb Co		68,677
	76,600		Bruker BioSciences Corp		2,562
	21,820	*,e	Calithera Biosciences, Inc		115
	5,849	*,e	Calyxt, Inc		89
	23,380	*,e	Cambrex Corp		1,599
	19,366	*,e	Cara Therapeutics Inc		464
	21,908	*	CareDx, Inc		632
	33,837	*,e	CASI Pharmaceuticals, Inc		158
	90,837	*	Catalent, Inc		4,138
	50,782	*,e	Catalyst Pharmaceuticals, Inc		192
	472,603	*	Celgene Corp		42,293
	34,386	*	Charles River Laboratories International, Inc		4,626
	18,304	*	ChemoCentryx, Inc		231
	30,594	*	Chimerix, Inc		119
	14,633	*,e	Clearside Biomedical, Inc		90
	28,355	*,e	Clovis Oncology, Inc		833
	23,538	*	Codexis, Inc		404
	15,129	*,e	Cohbar, Inc		65
	27,864	*	Coherus Biosciences, Inc		460
	16,286	*,e	Collegium Pharmaceutical, Inc		240
	11,239	*	Concert Pharmaceuticals Inc		167
	32,828	*,e	Corbus Pharmaceuticals Holdings, Inc		248
	65,375	*,e	Corcept Therapeutics, Inc		917
	15,295	*,e	Corium International, Inc		145
	6,717	*,e	Corvus Pharmaceuticals, Inc		58
	34,612	*,e	CTI BioPharma Corp		75
	11,975	*,e	Cue Biopharma, Inc		108
	39,943	*	Cymabay Therapeutics, Inc		443
	30,153	*	Cytokinetics, Inc		297
	21,311	*	CytomX Therapeutics, Inc		394
	5,156	*,e	Deciphera Pharmaceuticals, Inc		200
	11,457	*	Denali Therapeutics, Inc		249
	27,246	*	Dermira, Inc		297
	30,105	*,e	Dicerna Pharmaceuticals Inc		459
	7,981	*,e	Dova Pharmaceuticals, Inc		167
	84,059	*	Durect Corp		92
	35,256	*,e	Dynavax Technologies Corp		437

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,368	*	Eagle Pharmaceuticals, Inc	$	442
	24,325	*,e	Editas Medicine, Inc		774
	642,101		Eli Lilly & Co		68,904
	14,575	*,e	Eloxx Pharmaceuticals, Inc		248
	24,015	*	Emergent Biosolutions, Inc		1,581
	11,786	*	Enanta Pharmaceuticals, Inc		1,007
	161,263	*	Endo International plc		2,714
	44,054	*,e	Endocyte, Inc		782
	27,058	*	Enzo Biochem, Inc		111
	29,818	*,e	Epizyme, Inc		316
	9,694	*,e	Esperion Thereapeutics, Inc		430
	79,297	*,e	Exact Sciences Corp		6,258
	189,826	*	Exelixis, Inc		3,364
	24,636	*,e	Fate Therapeutics, Inc		401
	50,667	*	FibroGen, Inc		3,078
	19,800	*	Five Prime Therapeutics, Inc		276
	19,463	*,e	Flexion Therapeutics Inc		364
	20,851	*	Fluidigm Corp		156
	24,951	*,e	Fortress Biotech, Inc		40
	5,695	*	G1 Therapeutics, Inc		298
	14,071	*	Genomic Health, Inc		988
	114,325	*,e	Geron Corp		201
	874,900		Gilead Sciences, Inc		67,551
	26,450	*	Global Blood Therapeutics, Inc		1,005
	22,784	*,e	GlycoMimetics Inc		328
	79,065	*	Halozyme Therapeutics, Inc		1,437
	32,353	*	Heron Therapeutics, Inc		1,024
	118,653	*	Horizon Pharma plc		2,323
	7,873	*	Idera Pharmaceuticals, Inc		70
	100,279	*	Illumina, Inc		36,808
	8,484	*	Immune Design Corp		29
	65,469	*	Immunogen, Inc		620
	89,330	*,e	Immunomedics, Inc		1,861
	123,042	*	Incyte Corp		8,500
	55,553	*	Innoviva, Inc		847
	49,160	*,e	Inovio Pharmaceuticals, Inc		273
	45,452	*,e	Insmed, Inc		919
	17,481	*	Insys Therapeutics, Inc		176
	10,757	*,e	Intellia Therapeutics, Inc		308
	12,921	*	Intercept Pharmaceuticals, Inc		1,633
	18,642	*,e	Intersect ENT, Inc		536
	25,348	*	Intra-Cellular Therapies, Inc		550
	39,434	*,e	Intrexon Corp		679
	27,249	*,e	Invitae Corp		456
	89,084	*,e	Ionis Pharmaceuticals, Inc		4,595
	34,093	*	Iovance Biotherapeutics, Inc		384
	105,688	*	IQVIA Holdings, Inc		13,712
	95,014	*	Ironwood Pharmaceuticals, Inc		1,754
	40,066	*	Jazz Pharmaceuticals plc		6,736
	1,808,523		Johnson & Johnson		249,884
	4,482	*	Jounce Therapeutics, Inc		29
	47,099	*,e	Kadmon Holdings, Inc		157
	5,857	*	Kala Pharmaceuticals, Inc		58

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,632	*	Karyopharm Therapeutics, Inc	$	402
	59,203	*,e	Keryx Biopharmaceuticals, Inc		201
	15,620	*	Kindred Biosciences Inc		218
	10,057	*	Kura Oncology, Inc		176
	12,410	*,e	La Jolla Pharmaceutical Co		250
	19,506	*,e	Lannett Co, Inc		93
	30,110	*,e	Lexicon Pharmaceuticals, Inc		321
	14,752	*,e	Ligand Pharmaceuticals, Inc (Class B)		4,049
	17,994	*,e	Loxo Oncology, Inc		3,074
	31,134		Luminex Corp		944
	23,459	*	MacroGenics, Inc		503
	3,934	*,e	Madrigal Pharmaceuticals, Inc		842
	47,591	*,e	Mallinckrodt plc		1,395
	94,899	*,e	MannKind Corp		174
	24,678	*,e	Marinus Pharmaceuticals, Inc		247
	49,764	*,e	Medicines Co		1,488
	22,034	*,e	MediciNova, Inc		275
	5,025	*	Medpace Holdings, Inc		301
	6,150	*	Melinta Therapeutics, Inc		24
	8,441	*,e	Mersana Therapeutics, Inc		84
	17,325	*	Mettler-Toledo International, Inc		10,551
	75,041	*,e	MiMedx Group, Inc		464
	18,922	*	Minerva Neurosciences, Inc		237
	10,019	*,e	Miragen Therapeutics, Inc		56
	12,275	*,e	Mirati Therapeutics, Inc		578
	53,355	*	Momenta Pharmaceuticals, Inc		1,403
	350,312	*	Mylan NV		12,821
	20,674	*	MyoKardia, Inc		1,348
	46,607	*	Myriad Genetics, Inc		2,144
	10,862	*	NanoString Technologies, Inc		194
	22,232	*,e	NantKwest, Inc		82
	19,889	*	Natera, Inc		476
	106,507	*	Nektar Therapeutics		6,493
	38,546	*,e	NeoGenomics, Inc		592
	10,102	*,e	Neos Therapeutics, Inc		49
	63,342	*	Neurocrine Biosciences, Inc		7,788
	14,869	*,e	NewLink Genetics Corp		36
	197,987	*,e	Novavax, Inc		372
	19,320	*,e	Nymox Pharmaceutical Corp		48
	13,115	*,e	Ocular Therapeutix, Inc		90
	29,642	*,e	Omeros Corp		724
	238,337	*,e	Opko Health, Inc		825
	10,903	*,e	Optinose, Inc		136
	60,008	*,e	Organovo Holdings, Inc		69
	4,292	*	Ovid therapeutics, Inc		24
	55,440	*,e	Pacific Biosciences of California, Inc		300
	28,237	*	Pacira Pharmaceuticals, Inc		1,388
	17,330	*,e	Paratek Pharmaceuticals, Inc		168
	120,653	*	PDL BioPharma, Inc		317
	78,986	*	PerkinElmer, Inc		7,683
	92,108	e	Perrigo Co plc		6,521
	3,896,421		Pfizer, Inc		171,715
	12,927		Phibro Animal Health Corp		555
	24,527	*	Pieris Pharmaceuticals, Inc		137

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	5,876	*,e	PolarityTE, Inc	$	112
	36,240	*,e	Portola Pharmaceuticals, Inc		965
	34,913	*	PRA Health Sciences, Inc		3,847
	38,233	*,e	Prestige Brands Holdings, Inc		1,449
	51,583	*,e	Progenics Pharmaceuticals, Inc		323
	27,579	*	Prothena Corp plc		361
	25,096	*,e	PTC Therapeutics, Inc		1,180
	20,506	*,e	Puma Biotechnology, Inc		940
	149,997		QIAGEN NV		5,682
	8,205	*	Ra Pharmaceuticals, Inc		148
	27,010	*,e	Radius Health, Inc		481
	6,375	*,e	Reata Pharmaceuticals, Inc		521
	8,471	*	Recro Pharma, Inc		60
	55,147	*	Regeneron Pharmaceuticals, Inc		22,282
	19,715	*	REGENXBIO, Inc		1,489
	24,847	*,e	Repligen Corp		1,378
	25,726	*	Retrophin, Inc		739
	15,494	*	Revance Therapeutics, Inc		385
	6,147	*,e	Rhythm Pharmaceuticals, Inc		179
	86,450	*	Rigel Pharmaceuticals, Inc		278
	14,146	*,e	Rocket Pharmaceuticals, Inc		348
	28,996	*	Sage Therapeutics, Inc		4,096
	52,234	*,e	Sangamo Biosciences, Inc		885
	42,194	*	Sarepta Therapeutics, Inc		6,815
	16,939	*,e	Savara, Inc		189
	1,793,083		Schering-Plough Corp		127,201
	70,004	*,e	Seattle Genetics, Inc		5,399
	8,829	*,e	Selecta Biosciences, Inc		137
	13,345	*,e	Seres Therapeutics, Inc		101
	10,453	*,e	Sienna Biopharmaceuticals, Inc		155
	35,191	*,e	SIGA Technologies, Inc		242
	6,168	*	Solid Biosciences, Inc		291
	58,895	*,e	Sorrento Therapeutics, Inc		259
	16,648	*,e	Spark Therapeutics, Inc		908
	56,104	*	Spectrum Pharmaceuticals, Inc		943
	12,168	*	Stemline Therapeutics, Inc		202
	34,621	*	Supernus Pharmaceuticals, Inc		1,743
	6,983	*	Syndax Pharmaceuticals, Inc		56
	39,474	*	Syneos Health, Inc		2,035
	164,107	*,e	Synergy Pharmaceuticals, Inc		279
	9,466	*	Syros Pharmaceuticals, Inc		113
	17,332	*	T2 Biosystems, Inc		129
	29,885	*,e	Teligent, Inc		118
	26,872	*,e	TESARO, Inc		1,048
	26,726	*	Tetraphase Pharmaceuticals, Inc		74
	34,724	*,e	TG Therapeutics, Inc		194
	114,084	*,e	TherapeuticsMD, Inc		748
	29,259	*,e	Theravance Biopharma, Inc		956
	269,417		Thermo Fisher Scientific, Inc		65,759
	6,159	*,e	Tocagen, Inc		96
	7,799	*,e	Tricida, Inc		238
	28,669	*,e	Ultragenyx Pharmaceutical, Inc		2,189
	28,234	*	United Therapeutics Corp		3,611

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	31,395	*	Vanda Pharmaceuticals, Inc	$	721
	16,367	*	Veracyte, Inc		156
	35,826	*,e	Verastem, Inc		260
	24,994	*	Vericel Corp		354
	171,783	*	Vertex Pharmaceuticals, Inc		33,109
	29,514	*	Viking Therapeutics, Inc		514
	8,673	*	Voyager Therapeutics, Inc		164
	52,057	*	Waters Corp		10,134
	8,910	*,e	WaVe Life Sciences Pte Ltd		446
	27,098	*	Xencor Inc		1,056
	20,380	*	Zafgen, Inc		238
	90,754	*,e	ZIOPHARM Oncology, Inc		290
	330,760		Zoetis, Inc		30,284
	17,421	*,e	Zogenix, Inc		864
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,613,902
REAL ESTATE - 3.6%
	60,331		Acadia Realty Trust		1,691
	18,415		Agree Realty Corp		978
	47,563		Alexander & Baldwin, Inc		1,079
	1,329		Alexander’s, Inc		456
	69,354		Alexandria Real Estate Equities, Inc		8,724
	8,343	*,e	Altisource Portfolio Solutions S.A.		269
	28,646		American Assets Trust, Inc		1,068
	96,842		American Campus Communities, Inc		3,986
	164,177	e	American Homes 4 Rent		3,594
	295,567		American Tower Corp		42,946
	36,156		Americold Realty Trust		905
	111,644		Apartment Investment & Management Co (Class A)		4,927
	113,878		Apple Hospitality REIT, Inc		1,992
	31,681		Armada Hoffler Properties, Inc		479
	56,474		Ashford Hospitality Trust, Inc		361
	7,072	*	AV Homes, Inc		141
	92,922		AvalonBay Communities, Inc		16,833
	16,903	e	Bluerock Residential Growth REIT, Inc		166
	106,248		Boston Properties, Inc		13,078
	20,771		BraeMar Hotels & Resorts, Inc		244
	121,360		Brandywine Realty Trust		1,908
	218,369		Brixmor Property Group, Inc		3,824
	102,767		Brookfield Property REIT, Inc		2,151
	61,667		Camden Property Trust		5,770
	50,740		CareTrust REIT, Inc		899
	29,192		CatchMark Timber Trust Inc		334
	124,137	e	CBL & Associates Properties, Inc		495
	204,711	*	CBRE Group, Inc		9,028
	62,949		Cedar Realty Trust, Inc		293
	28,285		Chatham Lodging Trust		591
	40,024		Chesapeake Lodging Trust		1,284
	21,833		City Office REIT, Inc		276
	10,462		Clipper Realty, Inc		142
	350,580		Colony Capital, Inc		2,135
	83,894		Columbia Property Trust, Inc		1,983
	9,586		Community Healthcare Trust, Inc		297
	3,235		Consolidated-Tomoka Land Co		201

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	86,682		CoreCivic, Inc	$	2,109
	9,299		CorEnergy Infrastructure Trust, Inc		349
	7,951		CorePoint Lodging, Inc		155
	24,799		Coresite Realty		2,756
	72,219		Corporate Office Properties Trust		2,154
	301,076		Cousins Properties, Inc		2,677
	279,811		Crown Castle International Corp		31,151
	131,589		CubeSmart		3,754
	30,361	*,e	Cushman & Wakefield plc		516
	62,800		CyrusOne, Inc		3,981
	103,764	e	DDR Corp		1,389
	144,818		DiamondRock Hospitality Co		1,690
	140,314		Digital Realty Trust, Inc		15,782
	102,445		Douglas Emmett, Inc		3,864
	236,841		Duke Realty Corp		6,719
	26,096		Easterly Government Properties, Inc		505
	23,492		EastGroup Properties, Inc		2,246
	87,790		Empire State Realty Trust, Inc		1,458
	45,571		Entertainment Properties Trust		3,117
	53,440		Equinix, Inc		23,134
	80,064	*	Equity Commonwealth		2,569
	51,433		Equity Lifestyle Properties, Inc		4,961
	240,533		Equity Residential		15,938
	23,787	e	Essential Properties Realty Trust, Inc		338
	44,504		Essex Property Trust, Inc		10,980
	82,938		Extra Space Storage, Inc		7,186
	19,962	e	Farmland Partners, Inc		134
	52,442		Federal Realty Investment Trust		6,632
	80,676		First Industrial Realty Trust, Inc		2,533
	145,408	e	Forest City Realty Trust, Inc		3,648
	425	*,e	Forestar Group, Inc		9
	44,705		Four Corners Property Trust, Inc		1,148
	72,511		Franklin Street Properties Corp		579
	37,147	e	Front Yard Residential Corp		403
	4,942	*	FRP Holdings, Inc		307
	124,798		Gaming and Leisure Properties, Inc		4,399
	87,896		Geo Group, Inc		2,211
	18,198		Getty Realty Corp		520
	17,811		Gladstone Commercial Corp		341
	10,990		Global Medical REIT, Inc		104
	44,961		Global Net Lease, Inc		937
	51,670	e	Government Properties Income Trust		583
	108,607		Gramercy Property Trust		2,980
	35,286	e	Hannon Armstrong Sustainable Infrastructure Capital, Inc		758
	322,762		HCP, Inc		8,495
	82,789		Healthcare Realty Trust, Inc		2,422
	142,087		Healthcare Trust of America, Inc		3,789
	27,708		Hersha Hospitality Trust		628
	14,600		HFF, Inc (Class A)		620
	71,000		Highwoods Properties, Inc		3,355
	94,726		Hospitality Properties Trust		2,732
	476,733		Host Marriott Corp		10,059
	24,727	*	Howard Hughes Corp		3,072

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	113,109		Hudson Pacific Properties	$	3,701
	48,914		Independence Realty Trust, Inc		515
	14,095	e	Industrial Logistics Properties Trust		324
	4,353	e	Innovative Industrial Properties, Inc		210
	90,609		Investors Real Estate Trust		542
	207,077		Invitation Homes, Inc		4,744
	190,342	e	Iron Mountain, Inc		6,571
	49,646	e	iStar Financial, Inc		555
	62,519		JBG SMITH Properties		2,303
	6,203		Jernigan Capital, Inc		120
	28,591		Jones Lang LaSalle, Inc		4,126
	84,885		Kennedy-Wilson Holdings, Inc		1,825
	61,892	e	Kilroy Realty Corp		4,437
	297,898		Kimco Realty Corp		4,987
	55,102		Kite Realty Group Trust		917
	51,720		Lamar Advertising Co		4,024
	64,075		LaSalle Hotel Properties		2,216
	144,484		Lexington Realty Trust		1,199
	90,704		Liberty Property Trust		3,832
	31,791	e	Life Storage, Inc		3,025
	26,668		LTC Properties, Inc		1,176
	92,755		Macerich Co		5,128
	65,387		Mack-Cali Realty Corp		1,390
	11,498	*	Marcus & Millichap, Inc		399
	4,532	*	Maui Land & Pineapple Co, Inc		58
	20,532		MedEquities Realty Trust, Inc		200
	217,243		Medical Properties Trust, Inc		3,239
	77,362		Mid-America Apartment Communities, Inc		7,750
	50,307		Monmouth Real Estate Investment Corp (Class A)		841
	19,616		National Health Investors, Inc		1,483
	95,968	e	National Retail Properties, Inc		4,301
	31,451		National Storage Affiliates Trust		800
	55,714		New Senior Investment Group, Inc		329
	16,319		Newmark Group, Inc		183
	12,730	e	NexPoint Residential Trust, Inc		423
	42,262		NorthStar Realty Europe Corp		598
	139,485	e	Omega Healthcare Investors, Inc		4,571
	9,027		One Liberty Properties, Inc		251
	97,077		Outfront Media, Inc		1,937
	141,733		Paramount Group, Inc		2,139
	136,729		Park Hotels & Resorts, Inc		4,487
	49,813	e	Pebblebrook Hotel Trust		1,812
	52,388	e	Pennsylvania REIT		496
	107,460		Physicians Realty Trust		1,812
	100,383		Piedmont Office Realty Trust, Inc		1,900
	44,027		Potlatch Corp		1,803
	21,687		Preferred Apartment Communities, Inc		381
	413,024		Prologis, Inc		27,999
	13,748		PS Business Parks, Inc		1,747
	101,140		Public Storage, Inc		20,393
	34,553		QTS Realty Trust, Inc		1,474
	57,913		Ramco-Gershenson Properties		788
	89,792		Rayonier, Inc		3,036
	13,117		Re/Max Holdings, Inc		582

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	75,694	e	Realogy Holdings Corp	$	1,562
	188,006		Realty Income Corp		10,696
	40,113	*,e	Redfin Corp		750
	108,110		Regency Centers Corp		6,991
	78,162		Retail Opportunities Investment Corp		1,459
	173,060		Retail Properties of America, Inc		2,110
	10,376	*	Retail Value, Inc		339
	48,113		Rexford Industrial Realty, Inc		1,538
	124,274		RLJ Lodging Trust		2,738
	5,123		RMR Group, Inc		475
	31,992		Ryman Hospitality Properties		2,757
	116,469		Sabra Healthcare REIT, Inc		2,693
	7,521		Safety Income and Growth, Inc		141
	6,451		Saul Centers, Inc		361
	75,338	*	SBA Communications Corp		12,102
	41,385		Select Income REIT		908
	170,932		Senior Housing Properties Trust		3,002
	18,501	e	Seritage Growth Properties		879
	207,069		Simon Property Group, Inc		36,599
	58,281		SL Green Realty Corp		5,684
	28,096		Spirit MTA REIT		324
	280,967		Spirit Realty Capital, Inc		2,265
	33,773	*,e	St. Joe Co		567
	64,412		STAG Industrial, Inc		1,771
	147,659	e	Starwood Property Trust, Inc		3,178
	121,165		STORE Capital Corp		3,367
	4,495		Stratus Properties, Inc		138
	73,018		Summit Hotel Properties, Inc		988
	52,001		Sun Communities, Inc		5,280
	159,024		Sunstone Hotel Investors, Inc		2,602
	67,688	e	Tanger Factory Outlet Centers, Inc		1,549
	41,435		Taubman Centers, Inc		2,479
	12,164	*	Tejon Ranch Co		264
	35,329		Terreno Realty Corp		1,332
	34,663		Tier REIT, Inc		835
	13,643	*,e	Trinity Place Holdings, Inc		83
	175,727		UDR, Inc		7,105
	20,169		UMH Properties, Inc		315
	119,952		Uniti Group, Inc		2,417
	9,264		Universal Health Realty Income Trust		689
	70,770		Urban Edge Properties		1,563
	20,808		Urstadt Biddle Properties, Inc (Class A)		443
	247,662		Ventas, Inc		13,468
	661,427		VEREIT, Inc		4,802
	249,426		VICI Properties, Inc		5,393
	117,610		Vornado Realty Trust		8,586
	134,922		Washington Prime Group, Inc		985
	53,425		Washington REIT		1,637
	67,227		Weingarten Realty Investors		2,001
	256,728		Welltower, Inc		16,513
	508,966		Weyerhaeuser Co		16,424
	25,132		Whitestone REIT		349
	67,885	e	WP Carey, Inc		4,366

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	79,064		Xenia Hotels & Resorts, Inc	$	1,874
			TOTAL REAL ESTATE		716,219
RETAILING - 6.6%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		216
	45,849		Aaron’s, Inc		2,497
	51,631	e	Abercrombie & Fitch Co (Class A)		1,090
	46,868		Advance Auto Parts, Inc		7,889
	273,858	*	Amazon.com, Inc		548,538
	117,400		American Eagle Outfitters, Inc		2,915
	5,481	*	America’s Car-Mart, Inc		429
	13,496	*,e	Asbury Automotive Group, Inc		928
	117,039	*	Ascena Retail Group, Inc		535
	17,984	*,e	At Home Group, Inc		567
	36,032	*	Autonation, Inc		1,497
	18,295	*	AutoZone, Inc		14,191
	29,015	*	Barnes & Noble Education, Inc		167
	40,294		Barnes & Noble, Inc		234
	76,045	e	Bed Bath & Beyond, Inc		1,141
	165,042		Best Buy Co, Inc		13,098
	14,390	e	Big 5 Sporting Goods Corp		73
	20,052		Big Lots, Inc		838
	29,091	*	BJ’s Wholesale Club Holdings, Inc		779
	31,928	*	Booking Holdings, Inc		63,345
	9,762	*	Boot Barn Holdings, Inc		277
	14,004	e	Buckle, Inc		323
	44,520	*	Burlington Stores, Inc		7,253
	28,267		Caleres, Inc		1,014
	22,123	e	Camping World Holdings, Inc		472
	121,162	*	CarMax, Inc		9,047
	21,643	*,e	Carvana Co		1,279
	12,003		Cato Corp (Class A)		252
	83,036		Chico’s FAS, Inc		720
	12,596	e	Children’s Place Retail Stores, Inc		1,610
	11,556		Citi Trends, Inc		332
	13,169	*,e	Conn’s, Inc		466
	11,400	*	Container Store Group, Inc		127
	33,096		Core-Mark Holding Co, Inc		1,124
	52,804	e	Dick’s Sporting Goods, Inc		1,873
	10,952	e	Dillard’s, Inc (Class A)		836
	180,793		Dollar General Corp		19,761
	154,566	*,e	Dollar Tree, Inc		12,605
	49,292		DSW, Inc (Class A)		1,670
	7,236	*,e	Duluth Holdings, Inc		228
	79,113		Expedia, Inc		10,323
	55,323	*	Express Parent LLC		612
	39,150	*,e	Five Below, Inc		5,092
	20,355	*	Floor & Decor Holdings, Inc		614
	83,075		Foot Locker, Inc		4,235
	25,440	*,e	Francesca’s Holdings Corp		94
	6,584	*,e	Gaia, Inc		101
	67,461	e	GameStop Corp (Class A)		1,030
	152,120	e	Gap, Inc		4,389
	13,677	*	Genesco, Inc		644

312

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	91,234		Genuine Parts Co	$	9,069
	50,651	*,e	GNC Holdings, Inc		210
	14,604		Group 1 Automotive, Inc		948
	244,899	*	Groupon, Inc		923
	44,451		Guess?, Inc		1,005
	13,840		Haverty Furniture Cos, Inc		306
	16,994	*,e	Hibbett Sports, Inc		319
	776,394		Home Depot, Inc		160,830
	27,375	*	Hudson Ltd		618
	8,070	*	J. Jill, Inc		50
	228,517	*,e	JC Penney Co, Inc		379
	12,718	*	Kirkland’s, Inc		128
	114,318		Kohl’s Corp		8,522
	139,756		L Brands, Inc		4,235
	9,431	*,e	Lands’ End, Inc		166
	39,468	*	Liberty Expedia Holdings, Inc		1,857
	53,282	*	Liberty TripAdvisor Holdings, Inc		791
	10,868	e	Lithia Motors, Inc (Class A)		887
	213,212	*	LKQ Corp		6,752
	549,899		Lowe’s Companies, Inc		63,139
	19,294	*,e	Lumber Liquidators, Inc		299
	199,770	e	Macy’s, Inc		6,938
	18,578	*	MarineMax, Inc		395
	61,561	*,e	Michaels Cos, Inc		999
	23,604	e	Monro Muffler, Inc		1,643
	16,896	*	Murphy USA, Inc		1,444
	32,478	*	National Vision Holdings, Inc		1,466
	279,788	*	NetFlix, Inc		104,677
	84,693		Nordstrom, Inc		5,065
	21,359	e	Nutri/System, Inc		791
	375,116		Office Depot, Inc		1,204
	34,400	*	Ollie’s Bargain Outlet Holdings, Inc		3,306
	54,834	*	O’Reilly Automotive, Inc		19,045
	12,199	*,e	Overstock.com, Inc		338
	17,507	*,e	Party City Holdco, Inc		237
	24,110	e	Penske Auto Group, Inc		1,143
	14,105	e	PetMed Express, Inc		466
	59,095	e	Pier 1 Imports, Inc		89
	24,507		Pool Corp		4,090
	284,860	*	Qurate Retail Group, Inc QVC Group		6,327
	30,873		Rent-A-Center, Inc		444
	10,459	*,e	RH		1,370
	252,849		Ross Stores, Inc		25,057
	66,571	*,e	Sally Beauty Holdings, Inc		1,224
	2,356	e	Shoe Carnival, Inc		91
	18,402	*	Shutterfly, Inc		1,212
	38,798		Signet Jewelers Ltd		2,558
	29,918	*,e	Sleep Number Corp		1,100
	20,728		Sonic Automotive, Inc (Class A)		401
	19,952	*,e	Sportsman’s Warehouse Holdings, Inc		117
	26,598		Tailored Brands, Inc		670
	366,277		Target Corp		32,309
	84,372		Tiffany & Co		10,881

313

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,339		Tile Shop Holdings, Inc	$	174
	6,790		Tilly’s, Inc		129
	422,220		TJX Companies, Inc		47,297
	86,269		Tractor Supply Co		7,840
	71,015	*,e	TripAdvisor, Inc		3,627
	39,841	*	Ulta Beauty, Inc		11,240
	50,352	*	Urban Outfitters, Inc		2,059
	38,206	*	Wayfair, Inc		5,642
	5,214		Weyco Group, Inc		183
	56,628	e	Williams-Sonoma, Inc		3,722
	1,945		Winmark Corp		323
	11,661	*	Zumiez, Inc		307
			TOTAL RETAILING		1,330,443
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.6%
	13,345	*,e	Acacia Communications, Inc		552
	26,575	*	Advanced Energy Industries, Inc		1,373
	595,455	*,e	Advanced Micro Devices, Inc		18,394
	15,539	*	Alpha & Omega Semiconductor Ltd		181
	23,188	*,e	Ambarella, Inc		897
	73,241	*	Amkor Technology, Inc		541
	248,005		Analog Devices, Inc		22,931
	678,400		Applied Materials, Inc		26,220
	14,361	*,e	Aquantia Corp		184
	20,849	*,e	Axcelis Technologies, Inc		410
	26,991	*	AXT, Inc		193
	289,303		Broadcom, Inc		71,380
	49,923		Brooks Automation, Inc		1,749
	17,388		Cabot Microelectronics Corp		1,794
	15,710	*	Ceva, Inc		452
	46,452	*	Cirrus Logic, Inc		1,793
	18,761		Cohu, Inc		471
	70,502	*,e	Cree, Inc		2,670
	236,910		Cypress Semiconductor Corp		3,433
	28,713	*	Diodes, Inc		956
	86,577		Entegris, Inc		2,506
	49,996	*	First Solar, Inc		2,421
	51,293	*	Formfactor, Inc		705
	8,421	*,e	Ichor Holdings Ltd		172
	13,074	*,e	Impinj, Inc		324
	29,376	*,e	Inphi Corp		1,116
	80,334	*	Integrated Device Technology, Inc		3,776
	3,109,531		Intel Corp		147,050
	102,948		Kla-Tencor Corp		10,471
	50,517	*,e	Kopin Corp		122
	107,118		Lam Research Corp		16,250
	75,431	*	Lattice Semiconductor Corp		603
	29,103	*,e	MA-COM Technology Solutions		599
	372,735	e	Marvell Technology Group Ltd		7,194
	183,040		Maxim Integrated Products, Inc		10,322
	43,500	*,e	MaxLinear, Inc		865
	154,628	e	Microchip Technology, Inc		12,202
	779,522	*	Micron Technology, Inc		35,258
	38,853		MKS Instruments, Inc		3,114

314

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	28,750		Monolithic Power Systems, Inc	$	3,609
	18,167	*	Nanometrics, Inc		682
	21,168	*	NeoPhotonics Corp Ltd		176
	3,184		NVE Corp		337
	390,647		NVIDIA Corp		109,780
	230,556	*	NXP Semiconductors NV		19,713
	279,225	*	ON Semiconductor Corp		5,146
	20,605	*	PDF Solutions, Inc		186
	46,544	*	Photronics, Inc		458
	20,135		Power Integrations, Inc		1,272
	83,066	*	Qorvo, Inc		6,387
	992,176	e	QUALCOMM, Inc		71,466
	79,664	*	Rambus, Inc		869
	22,659	*	Rudolph Technologies, Inc		554
	47,350	*	Semtech Corp		2,633
	28,958	*	Silicon Laboratories, Inc		2,658
	122,939		Skyworks Solutions, Inc		11,152
	2,025	*	SMART Global Holdings, Inc		58
	42,585	*	SunPower Corp		311
	130,395		Teradyne, Inc		4,822
	658,665		Texas Instruments, Inc		70,668
	23,500	*,e	Ultra Clean Holdings		295
	27,466	e	Universal Display Corp		3,238
	34,384	*	Veeco Instruments, Inc		352
	77,993		Versum Materials, Inc		2,808
	37,527	*	Xcerra Corp		535
	172,027		Xilinx, Inc		13,791
	35,485		Xperi Corp		527
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		746,127
SOFTWARE & SERVICES - 15.5%
	36,774	*	2U, Inc		2,765
	65,506	*	8x8, Inc		1,392
	32,215	*	A10 Networks, Inc		196
	430,465		Accenture plc		73,265
	86,241	*	ACI Worldwide, Inc		2,427
	509,386		Activision Blizzard, Inc		42,376
	330,494	*	Adobe Systems, Inc		89,217
	111,077	*	Akamai Technologies, Inc		8,125
	14,717	*	Alarm.com Holdings, Inc		845
	32,517		Alliance Data Systems Corp		7,679
	201,239	*	Alphabet, Inc (Class A)		242,912
	205,109	*	Alphabet, Inc (Class C)		244,791
	16,908	*	Altair Engineering, Inc		735
	18,942	*,e	Alteryx, Inc		1,084
	11,882	*	Amber Road, Inc		114
	95,104		Amdocs Ltd		6,275
	15,720	*	American Software, Inc (Class A)		191
	54,342	*	Ansys, Inc		10,145
	5,867	*	Appfolio, Inc		460
	12,607	*	Apptio, Inc		466
	48,798	*	Aspen Technology, Inc		5,559
	64,859	*	Atlassian Corp plc		6,236

315

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	149,687	*	Autodesk, Inc	$	23,368
	296,451		Automatic Data Processing, Inc		44,663
	5,821	*,e	Avalara, Inc		203
	70,813	*	Avaya Holdings Corp		1,568
	11,374	*,e	Benefitfocus, Inc		460
	96,845	*	Black Knight, Inc		5,031
	34,044		Blackbaud, Inc		3,455
	21,965	*,e	Blackline, Inc		1,240
	30,473	*	Blucora, Inc		1,227
	96,676		Booz Allen Hamilton Holding Co		4,798
	29,562	*	Bottomline Technologies, Inc		2,149
	86,219	*	Box, Inc		2,061
	20,694	*	Brightcove, Inc		174
	77,769		Broadridge Financial Solutions, Inc		10,262
	209,879		CA, Inc		9,266
	17,838	*	CACI International, Inc (Class A)		3,285
	184,754	*	Cadence Design Systems, Inc		8,373
	5,472	*,e	Carbon Black, Inc		116
	18,030	*,e	Carbonite, Inc		643
	33,955	*	Cardtronics plc		1,074
	10,137	*	Care.com, Inc		224
	33,333	*	Cargurus, Inc		1,856
	51,951	*,e	Cars.com, Inc		1,434
	8,830		Cass Information Systems, Inc		575
	88,343		CDK Global, Inc		5,527
	16,103	*,e	Ceridian HCM Holding, Inc		677
	15,814	*	ChannelAdvisor Corp		197
	26,536	*,e	Cision Ltd		446
	86,913	*	Citrix Systems, Inc		9,661
	68,978	*	Cloudera, Inc		1,217
	394,212		Cognizant Technology Solutions Corp (Class A)		30,413
	28,135	*	Commvault Systems, Inc		1,969
	137,713	*	Conduent, Inc		3,101
	16,758		ConvergeOne Holdings, Inc		156
	67,630		Convergys Corp		1,606
	37,259	*	Cornerstone OnDemand, Inc		2,114
	36,045	*,e	Coupa Software, Inc		2,851
	24,883	e	CSG Systems International, Inc		999
	134,290	*	Dell Technologies, Inc-VMware Inc		13,042
	7,264	*,e	Digimarc Corp		228
	17,071	*,e	DocuSign, Inc		897
	191,292		DXC Technology Co		17,890
	625,215	*	eBay, Inc		20,645
	17,480	e	Ebix, Inc		1,384
	202,607	*	Electronic Arts, Inc		24,412
	24,127	*,e	Ellie Mae, Inc		2,287
	43,380	*,e	Endurance International Group Holdings, Inc		382
	30,234	*	Envestnet, Inc		1,843
	34,220	*	EPAM Systems, Inc		4,712
	83,578	*	Etsy, Inc		4,294
	35,298	*	Euronet Worldwide, Inc		3,538
	12,571	*,e	Everbridge, Inc		725
	45,885	*	Everi Holdings, Inc		421
	44,094	e	EVERTEC, Inc		1,063

316

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,859	*,e	Evo Payments, Inc	$	260
	32,121	*,e	Exela Technologies, Inc		229
	21,916	*	ExlService Holdings, Inc		1,451
	1,598,548	*	Facebook, Inc		262,897
	20,028	*	Fair Isaac Corp		4,577
	220,590	e	Fidelity National Information Services, Inc		24,060
	127,712	*,e	FireEye, Inc		2,171
	48,580	*	First American Corp		2,400
	365,874	*	First Data Corp		8,953
	272,065	*	Fiserv, Inc		22,413
	37,675	*	Five9, Inc		1,646
	60,412	*	FleetCor Technologies, Inc		13,764
	19,555	*	ForeScout Technologies, Inc		738
	92,111	*	Fortinet, Inc		8,499
	58,348	*	Gartner, Inc		9,248
	97,664		Genpact Ltd		2,989
	108,395		Global Payments, Inc		13,810
	54,344	*	Glu Mobile, Inc		405
	102,041	*	GoDaddy, Inc		8,509
	42,541	*,e	Gogo, Inc		221
	60,011	*	GrubHub, Inc		8,319
	22,127	*,e	GTT Communications, Inc		960
	52,363	*,e	Guidewire Software, Inc		5,289
	17,956		Hackett Group, Inc		362
	34,799	*	Hortonworks, Inc		794
	24,272	*,e	HubSpot, Inc		3,664
	49,755	*	IAC/InterActiveCorp		10,783
	24,295	*	Imperva, Inc		1,128
	24,668	*	Information Services Group, Inc		118
	15,324	*,e	Instructure, Inc		542
	14,801	*	Internap Corp		187
	615,186		International Business Machines Corp		93,022
	162,573		Intuit, Inc		36,969
	33,493		j2 Global, Inc		2,775
	55,229		Jack Henry & Associates, Inc		8,841
	9,177	*	Leaf Group Ltd		92
	92,643		Leidos Holdings, Inc		6,407
	50,961	*	Limelight Networks, Inc		256
	19,090	*	Liquidity Services, Inc		121
	40,701	*	Liveperson, Inc		1,056
	57,158	*	LiveRamp Holdings, Inc		2,824
	36,974		LogMeIn, Inc		3,294
	48,035	*	Manhattan Associates, Inc		2,623
	18,418		Mantech International Corp (Class A)		1,166
	617,516		MasterCard, Inc (Class A)		137,465
	35,129	*,e	Match Group, Inc		2,034
	44,595		MAXIMUS, Inc		2,901
	46,865	*	Meet Group, Inc		232
	5,105,500		Microsoft Corp		583,916
	6,844	*	MicroStrategy, Inc (Class A)		962
	26,600	*,e	MINDBODY, Inc		1,081
	22,456	*	Mitek Systems, Inc		158
	40,466	*	MobileIron, Inc		214

317

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,483	*	Model N, Inc	$	230
	22,389	*	MoneyGram International, Inc		120
	29,292		Monotype Imaging Holdings, Inc		592
	30,028	*	New Relic, Inc		2,830
	46,584		NIC, Inc		689
	208,409	*,e	Nuance Communications, Inc		3,610
	75,444	*	Nutanix, Inc		3,223
	58,404	*,e	Okta, Inc		4,109
	21,489	*	OneSpan, Inc		409
	1,887,388		Oracle Corp		97,314
	163,222	*,e	Pandora Media, Inc		1,552
	7,197	*,e	Park City Group, Inc		73
	219,131		Paychex, Inc		16,139
	31,529	*	Paycom Software, Inc		4,900
	18,614	*	Paylocity Holding Corp		1,495
	797,540	*	PayPal Holdings, Inc		70,056
	26,462		Pegasystems, Inc		1,657
	25,493	*	Perficient, Inc		679
	95,646		Perspecta, Inc		2,460
	16,056	*	Pluralsight, Inc		514
	13,412	e	Presidio, Inc		205
	31,483		Progress Software Corp		1,111
	34,295	*	Proofpoint, Inc		3,647
	19,034	*	PROS Holdings, Inc		667
	78,000	*	PTC, Inc		8,283
	22,395	*	Q2 Holdings, Inc		1,356
	7,729		QAD, Inc (Class A)		438
	22,512	*	Qualys, Inc		2,006
	20,643	*	QuinStreet, Inc		280
	53,361	*	Quotient Technology, Inc		827
	14,504	*	Rapid7, Inc		535
	42,414	*	RealPage, Inc		2,795
	119,825	*	Red Hat, Inc		16,330
	6,528		Reis, Inc		150
	44,988	*	RingCentral, Inc		4,186
	13,437	*	Rosetta Stone, Inc		267
	151,223		Sabre Corp		3,944
	35,043	*	SailPoint Technologies Holding, Inc		1,192
	473,713	*	salesforce.com, Inc		75,335
	31,653		Science Applications International Corp		2,551
	4,599	*,e	SecureWorks Corp		67
	6,084	*	SendGrid, Inc		224
	119,493	*	ServiceNow, Inc		23,376
	46,932	*	ServiceSource International LLC		134
	4,906	*,e	ShotSpotter, Inc		301
	13,499		Shutterstock, Inc		737
	98,246	*	Splunk, Inc		11,879
	12,246	*	SPS Commerce, Inc		1,215
	195,060	*	Square, Inc		19,313
	140,643		SS&C Technologies Holdings, Inc		7,993
	11,437	*	Stamps.com, Inc		2,587
	25,754	e	Switch, Inc		278
	29,262	*	Sykes Enterprises, Inc		892
	429,847		Symantec Corp		9,147

318

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	94,245	*	Synopsys, Inc	$	9,293
	23,254	*	Syntel, Inc		953
	43,485	*	Tableau Software, Inc		4,859
	73,771	*	Take-Two Interactive Software, Inc		10,180
	12,153	*	TechTarget, Inc		236
	20,400	*	TeleNav, Inc		103
	8,418	*,e	Tenable Holdings, Inc		327
	76,002	*	Teradata Corp		2,866
	85,228		TiVo Corp		1,061
	123,503		Total System Services, Inc		12,195
	21,360	*,e	Trade Desk, Inc		3,223
	88,235		Travelport Worldwide Ltd		1,489
	44,667	*	TrueCar, Inc		630
	10,054		TTEC Holdings, Inc		260
	6,516	*,e	Tucows, Inc		363
	48,806	*	Twilio, Inc		4,211
	482,858	*	Twitter, Inc		13,742
	24,426	*	Tyler Technologies, Inc		5,986
	20,094	*	Ultimate Software Group, Inc		6,474
	38,674	*,e	Unisys Corp		789
	4,914	*,e	Upland Software, Inc		159
	18,823	*	Varonis Systems, Inc		1,379
	45,384	*	Verint Systems, Inc		2,274
	71,825	*	VeriSign, Inc		11,501
	32,131	*,e	VirnetX Holding Corp		149
	19,953	*	Virtusa Corp		1,072
	1,200,528		Visa, Inc (Class A)		180,187
	46,345	*	VMware, Inc (Class A)		7,233
	27,749	*	Website Pros, Inc		774
	309,241		Western Union Co		5,894
	27,596	*	WEX, Inc		5,540
	99,063	*	Workday, Inc		14,461
	16,351	*	Workiva, Inc		646
	196,315	*	Worldpay, Inc		19,881
	19,259	*	XO Group, Inc		664
	56,028	*	Yelp, Inc		2,757
	55,032	*,e	Yext, Inc		1,304
	69,807	*	Zendesk, Inc		4,956
	38,071	*,e	Zillow Group, Inc		1,683
	76,096	*,e	Zillow Group, Inc (Class C)		3,367
	42,422	*	Zix Corp		235
	9,439	*,e	Zscaler, Inc		385
	549,506	*	Zynga, Inc		2,204
			TOTAL SOFTWARE & SERVICES		3,108,096
TECHNOLOGY HARDWARE & EQUIPMENT - 6.0%
	74,639	*,e	3D Systems Corp		1,411
	35,649		Adtran, Inc		629
	16,323	*	Aerohive Networks, Inc		67
	11,056	*	Agilysys, Inc		180
	194,851		Amphenol Corp (Class A)		18,320
	21,094	*	Anixter International, Inc		1,483
	3,256,239		Apple, Inc		735,063

319

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	13,189	*,e	Applied Optoelectronics, Inc	$	325
	38,789	*	Arista Networks, Inc		10,312
	112,990	*	ARRIS International plc		2,937
	55,742	*	Arrow Electronics, Inc		4,109
	24,161	*	Avid Technology, Inc		143
	76,135		Avnet, Inc		3,409
	34,410		AVX Corp		621
	19,362		Badger Meter, Inc		1,025
	7,316		Bel Fuse, Inc (Class B)		194
	30,293	e	Belden CDT, Inc		2,163
	35,867		Benchmark Electronics, Inc		839
	26,799	*	CalAmp Corp		642
	28,887	*	Calix, Inc		234
	9,824	*,e	Casa Systems, Inc		145
	94,505		CDW Corp		8,403
	101,053	*	Ciena Corp		3,157
	3,171,232		Cisco Systems, Inc		154,281
	8,964	*,e	Clearfield, Inc		121
	110,414		Cognex Corp		6,163
	17,685	*,e	Coherent, Inc		3,045
	122,398	*	CommScope Holding Co, Inc		3,765
	16,237		Comtech Telecommunications Corp		589
	15,682	*	Control4 Corp		538
	539,982		Corning, Inc		19,061
	29,620	*	Cray, Inc		637
	23,637		CTS Corp		811
	27,847		Daktronics, Inc		218
	53,560	e	Diebold, Inc		241
	18,652	*	Digi International, Inc		251
	39,659		Dolby Laboratories, Inc (Class A)		2,775
	13,533	*,e	Eastman Kodak Co		42
	33,587	*	EchoStar Corp (Class A)		1,557
	21,493	*	Electro Scientific Industries, Inc		375
	33,181	*	Electronics for Imaging, Inc		1,131
	9,278	*	ePlus, Inc		860
	79,396	*	Extreme Networks, Inc		435
	38,706	*	F5 Networks, Inc		7,719
	26,560	*	Fabrinet		1,229
	12,851	*	FARO Technologies, Inc		827
	80,146	*,e	Finisar Corp		1,527
	124,310	*,e	Fitbit, Inc		665
	95,771		Flir Systems, Inc		5,887
	58,321	*	Harmonic, Inc		321
	1,018,683		Hewlett Packard Enterprise Co		16,615
	1,105,982		HP, Inc		28,501
	43,712	*	II-VI, Inc		2,068
	21,661	*	Immersion Corp		229
	103,799	*	Infinera Corp		758
	25,682	*,e	Insight Enterprises, Inc		1,389
	25,007		InterDigital, Inc		2,001
	25,495	*	IPG Photonics Corp		3,979
	18,293	*,e	Iteris, Inc		98
	24,355	*	Itron, Inc		1,564
	107,922		Jabil Circuit, Inc		2,923

320

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	223,430		Juniper Networks, Inc	$	6,696
	32,485	*	Kemet Corp		603
	121,590	*	Keysight Technologies, Inc		8,059
	21,162	*	Kimball Electronics, Inc		416
	64,648	*	Knowles Corp		1,074
	10,929	*	KVH Industries, Inc		143
	17,448		Littelfuse, Inc		3,453
	43,856	*	Lumentum Holdings, Inc		2,629
	24,482	*,e	Maxwell Technologies, Inc		85
	2,255	e	Mesa Laboratories, Inc		419
	25,950		Methode Electronics, Inc		939
	107,124		Motorola, Inc		13,941
	12,096	e	MTS Systems Corp		662
	7,937	*	Napco Security Technologies, Inc		119
	76,957		National Instruments Corp		3,719
	87,292	*	NCR Corp		2,480
	177,037		NetApp, Inc		15,206
	23,887	*	Netgear, Inc		1,501
	64,175	*	Netscout Systems, Inc		1,620
	4,719	*	nLight, Inc		105
	23,522	*	Novanta, Inc		1,609
	119,078	*	Oclaro, Inc		1,065
	12,827	*	OSI Systems, Inc		979
	59,973	*	Palo Alto Networks, Inc		13,509
	14,228		Park Electrochemical Corp		277
	8,216		PC Connection, Inc		320
	24,496		Plantronics, Inc		1,477
	24,305	*	Plexus Corp		1,422
	112,099	*	Pure Storage, Inc		2,909
	15,117	*	Quantenna Communications, Inc		279
	37,508	*	Ribbon Communications, Inc		256
	12,852	*,e	Rogers Corp		1,893
	52,368	*	Sanmina Corp		1,445
	17,777	*	Scansource, Inc		709
	37,383	*,e	Stratasys Ltd		864
	25,356	*,e	Synaptics, Inc		1,157
	20,598		SYNNEX Corp		1,745
	25,262	*	Tech Data Corp		1,808
	162,259	*	Trimble Navigation Ltd		7,052
	66,124	*	TTM Technologies, Inc		1,052
	9,730		Ubiquiti Networks, Inc		962
	28,420	*	USA Technologies, Inc		205
	38,380	*,e	Viasat, Inc		2,454
	165,919	*	Viavi Solutions, Inc		1,882
	97,366		Vishay Intertechnology, Inc		1,981
	9,508	*	Vishay Precision Group, Inc		356
	197,112		Western Digital Corp		11,539
	146,472		Xerox Corp		3,952
	33,846	*	Zebra Technologies Corp (Class A)		5,985
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,206,019
TELECOMMUNICATION SERVICES - 1.8%
	4,889,636		AT&T, Inc		164,194

321

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,918		ATN International, Inc	$	585
	27,406	*	Boingo Wireless, Inc		956
	628,303		CenturyLink, Inc		13,320
	33,512	*	Cincinnati Bell, Inc		535
	29,776		Cogent Communications Group, Inc		1,662
	48,355	e	Consolidated Communications Holdings, Inc		631
	57,416	e	Frontier Communications Corp		373
	23,607	*,e	Intelsat S.A.		708
	60,764	*,e	Iridium Communications, Inc		1,367
	60,198	*,e	NII Holdings, Inc		353
	13,047	*	Ooma, Inc		217
	44,329	*	Orbcomm, Inc		481
	7,472	*,e	pdvWireless, Inc		253
	33,638		Shenandoah Telecom Co		1,303
	14,641		Spok Holdings, Inc		225
	458,152	*	Sprint Corp		2,996
	70,982		Telephone & Data Systems, Inc		2,160
	199,928	*	T-Mobile US, Inc		14,031
	9,529	*	US Cellular Corp		427
	2,780,379		Verizon Communications, Inc		148,445
	143,849	*,e	Vonage Holdings Corp		2,037
	134,804	*	Zayo Group Holdings, Inc		4,680
			TOTAL TELECOMMUNICATION SERVICES		361,939
TRANSPORTATION - 2.1%
	37,928	*	Air Transport Services Group, Inc		814
	77,886	e	Alaska Air Group, Inc		5,363
	8,722	e	Allegiant Travel Co		1,106
	4,758		Amerco, Inc		1,697
	286,538		American Airlines Group, Inc		11,843
	19,331		Arkansas Best Corp		939
	16,948	*	Atlas Air Worldwide Holdings, Inc		1,080
	41,208	*	Avis Budget Group, Inc		1,324
	94,327		CH Robinson Worldwide, Inc		9,237
	21,812		Copa Holdings S.A. (Class A)		1,741
	23,634		Costamare, Inc		153
	8,672	*	Covenant Transportation Group, Inc		252
	550,216		CSX Corp		40,743
	14,173	*	Daseke, Inc		114
	430,813		Delta Air Lines, Inc		24,914
	28,818	*	Eagle Bulk Shipping, Inc		162
	21,041	*	Echo Global Logistics, Inc		651
	112,402		Expeditors International of Washington, Inc		8,265
	165,386		FedEx Corp		39,823
	20,963		Forward Air Corp		1,503
	6,118	*	Genco Shipping & Trading Ltd		86
	43,633	*	Genesee & Wyoming, Inc (Class A)		3,970
	36,387		Hawaiian Holdings, Inc		1,459
	33,759		Heartland Express, Inc		666
	40,162	*,e	Hertz Global Holdings, Inc		656
	21,791	*	Hub Group, Inc (Class A)		994
	56,707		JB Hunt Transport Services, Inc		6,745
	213,370	*	JetBlue Airways Corp		4,131
	70,219		Kansas City Southern Industries, Inc		7,954

322

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	37,438	*	Kirby Corp	$	3,079
	87,818	e	Knight-Swift Transportation Holdings, Inc		3,028
	25,122		Landstar System, Inc		3,065
	55,800	e	Macquarie Infrastructure Co LLC		2,574
	23,235		Marten Transport Ltd		489
	32,238		Matson, Inc		1,278
	189,345		Norfolk Southern Corp		34,177
	43,304		Old Dominion Freight Line		6,983
	6,136		Park-Ohio Holdings Corp		235
	29,335	*	Radiant Logistics, Inc		173
	30,762		Ryder System, Inc		2,248
	33,371	*	Safe Bulkers, Inc		96
	18,094	*	Saia, Inc		1,383
	22,723		Schneider National, Inc		568
	40,927		Scorpio Bulkers, Inc		297
	37,279	e	Skywest, Inc		2,196
	353,341		Southwest Airlines Co		22,066
	50,261	*	Spirit Airlines, Inc		2,361
	498,310		Union Pacific Corp		81,140
	161,656	*	United Continental Holdings, Inc		14,397
	461,705		United Parcel Service, Inc (Class B)		53,904
	6,297		Universal Truckload Services, Inc		232
	14,010	*	US Xpress Enterprises, Inc		193
	31,167		Werner Enterprises, Inc		1,102
	79,581	*	XPO Logistics, Inc		9,086
	23,809	*	YRC Worldwide, Inc		214
			TOTAL TRANSPORTATION		424,949
UTILITIES - 2.8%
	451,060		AES Corp		6,315
	30,256		Allete, Inc		2,269
	148,965		Alliant Energy Corp		6,341
	166,592		Ameren Corp		10,532
	337,036		American Electric Power Co, Inc		23,889
	25,230		American States Water Co		1,543
	122,513		American Water Works Co, Inc		10,777
	109,499		Aqua America, Inc		4,041
	8,231	*,e	AquaVenture Holdings Ltd		149
	4,909		Artesian Resources Corp		181
	92,825	*,e	Atlantic Power Corp		204
	69,033		Atmos Energy Corp		6,483
	39,059		Avangrid, Inc		1,872
	33,562		Avista Corp		1,697
	36,321	e	Black Hills Corp		2,110
	15,011	*,e	Cadiz, Inc		167
	35,650		California Water Service Group		1,529
	338,271		Centerpoint Energy, Inc		9,353
	11,318		Chesapeake Utilities Corp		950
	24,011		Clearway Energy, Inc (Class A)		457
	47,061		Clearway Energy, Inc (Class C)		906
	188,591		CMS Energy Corp		9,241
	8,405		Connecticut Water Service, Inc		583
	214,411		Consolidated Edison, Inc		16,336
	10,961		Consolidated Water Co, Inc		152

323

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	444,995		Dominion Resources, Inc	$	31,274
	123,065		DTE Energy Co		13,430
	480,229		Duke Energy Corp		38,428
	213,278		Edison International		14,435
	27,569		El Paso Electric Co		1,577
	114,842		Entergy Corp		9,317
	185,114		Evergy, Inc		10,166
	220,603		Eversource Energy		13,554
	640,770		Exelon Corp		27,976
	327,125	e	FirstEnergy Corp		12,159
	6,410		Global Water Resources, Inc		68
	56,785		Hawaiian Electric Industries, Inc		2,021
	30,421		Idacorp, Inc		3,019
	119,020		MDU Resources Group, Inc		3,058
	24,502		MGE Energy, Inc		1,564
	11,759		Middlesex Water Co		569
	44,299		National Fuel Gas Co		2,483
	62,202		New Jersey Resources Corp		2,868
	316,046		NextEra Energy, Inc		52,969
	234,601		NiSource, Inc		5,846
	14,483	*	Northwest Natural Holding Co		969
	35,112		NorthWestern Corp		2,060
	196,541		NRG Energy, Inc		7,351
	142,240		OGE Energy Corp		5,166
	36,272		ONE Gas, Inc		2,984
	26,977	e	Ormat Technologies, Inc		1,460
	27,545		Otter Tail Corp		1,319
	50,689	e	Pattern Energy Group, Inc		1,007
	352,287		PG&E Corp		16,209
	73,930		Pinnacle West Capital Corp		5,854
	55,254		PNM Resources, Inc		2,180
	60,652		Portland General Electric Co		2,766
	460,802	e	PPL Corp		13,483
	334,261		Public Service Enterprise Group, Inc		17,646
	11,616	*	Pure Cycle Corp		134
	4,887	e	RGC Resources, Inc		131
	95,839		SCANA Corp		3,727
	180,457		Sempra Energy		20,527
	12,005	e	SJW Corp		734
	58,642	e	South Jersey Industries, Inc		2,068
	679,211		Southern Co		29,614
	34,400		Southwest Gas Corp		2,719
	7,544	e	Spark Energy, Inc		62
	33,979	e	Spire, Inc		2,499
	49,399		TerraForm Power, Inc		571
	123,477		UGI Corp		6,851
	10,272		Unitil Corp		523
	51,076		Vectren Corp		3,651
	279,419	*	Vistra Energy Corp		6,952
	209,470		WEC Energy Group, Inc		13,984
	344,186		Xcel Energy, Inc		16,249
	9,006		York Water Co		274
			TOTAL UTILITIES		556,582
			TOTAL COMMON STOCKS		20,000,832
			(Cost $8,512,054)

324

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY				VALUE (000)
RIGHTS / WARRANTS - 0.0%
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	80,085	*,†,m	Media General, Inc				$	0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					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 CVR					2
	6,981	m	Tobira Therapeutics, Inc					0	^
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					12
			TOTAL RIGHTS / WARRANTS					12
			(Cost $0)
PRINCIPAL			ISSUER	RATE		MATURITY DATE
SHORT-TERM INVESTMENTS - 2.3%
GOVERNMENT AGENCY DEBT - 0.1%
$	22,550,000		Federal Home Loan Bank (FHLB)	2.000	%	10/01/18		22,550
			TOTAL GOVERNMENT AGENCY DEBT					22,550
TREASURY DEBT - 0.4%
	69,700,000		United States Treasury Bill	1.955		10/04/18		69,689
			TOTAL TREASURY DEBT					69,689
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.8%
	369,723,310	c	State Street Navigator Securities Lending Government Money Market Portfolio					369,723
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					369,723
			TOTAL SHORT-TERM INVESTMENTS					461,962
			(Cost $461,962)
			TOTAL INVESTMENTS - 101.8%					20,462,806
			(Cost $8,974,016)
			OTHER ASSETS & LIABILITIES, NET - (1.8)%					(360,786	)
			NET ASSETS - 100.0%				$	20,102,020
			Abbreviation(s):
			CVR     Contingent Value Right
			REIT    Real Estate Investment Trust

325

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
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 $356,396,000.
m	Indicates a security that has been deemed illiquid.
	Cost amounts are in thousands.

Futures contracts outstanding as of September 30, 2018 were as follows (notional amounts and values 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	89	12/21/18	$	7,656	$	7,569	$	(87	)
S&P 500 E Mini Index	460	12/21/18		66,793		67,137		344
S&P Mid-Cap 400 E Mini Index	24	12/21/18		4,903		4,860		(43	)
Total	573		$	79,352	$	79,566	$	214

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2018  

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
BANK LOAN OBLIGATIONS - 0.3%
CAPITAL GOODS - 0.0%
$	495,009	i	Avolon TLB Borrower  US LLC	LIBOR 1 M + 2.000%	4.170	%	01/15/25	$	497
			TOTAL CAPITAL GOODS						497
CONSUMER DURABLES & APPAREL - 0.0%
	893,250	i	Hanesbrands, Inc	LIBOR 1 M + 1.750%	3.990		12/16/24		897
	1,500,000	h,i	Samsonite IP Holdings Sarl	LIBOR 1 M + 1.750%	3.990		04/25/25		1,498
			TOTAL CONSUMER DURABLES & APPAREL						2,395
CONSUMER SERVICES - 0.0%
	491,460	i	1011778 BC / New Red Finance, Inc	LIBOR 1 M + 2.250%	4.490		02/16/24		492
	485,728	i	Boyd Gaming Corp	LIBOR 1 W + 2.250%	4.420		09/15/23		488
	1,500,000	i	Las Vegas Sands LLC	LIBOR 1 M + 1.750%	3.990		03/27/25		1,498
			TOTAL CONSUMER SERVICES						2,478
DIVERSIFIED FINANCIALS - 0.0%
	173,054	i	Mallinckrodt International Finance S.A.	LIBOR 3 M + 2.750%	5.140		09/24/24		172
			TOTAL DIVERSIFIED FINANCIALS						172
ENERGY - 0.0%
	1,720,000	i	California Resources Corp	LIBOR 1 M + 10.375%	12.617		12/31/21		1,906
			TOTAL ENERGY						1,906
FOOD & STAPLES RETAILING - 0.0%
	206,388	i	Albertsons LLC	LIBOR 3 M + 3.000%	5.310		06/22/23		206
	710,590	i	YUM! Brands	LIBOR 1 M + 1.750%	3.910		04/03/25		711
			TOTAL FOOD & STAPLES RETAILING						917
FOOD, BEVERAGE & TOBACCO - 0.0%
	985,000	i	Post Holdings, Inc	LIBOR 1 M + 2.000%	3.250		05/24/24		985
			TOTAL FOOD, BEVERAGE & TOBACCO						985
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	487,500	i	Change Healthcare Holdings LLC	LIBOR 1 M + 2.750%	4.990		03/01/24		489
	2,455,094	i	Team Health Holdings, Inc	LIBOR 1 M + 2.750%	4.990		02/06/24		2,381
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						2,870
MATERIALS - 0.1%
	1,477,500	i	Berry Global, Inc	LIBOR 2 M + 2.000%	4.190		01/19/24		1,479
	496,250	i	Ineos US Finance LLC	LIBOR 1 M + 2.000%	4.240		03/31/24		497
	1,404,952	i	PolyOne Corp	LIBOR 1 M + 1.750%	3.900		11/11/22		1,409
	1,950,000	h,i	Starfruit US Holdco LLC	LIBOR 1 M + 3.250%	4.250		09/19/25		1,958
			TOTAL MATERIALS						5,343

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
MEDIA - 0.1%
$	972,070	i	CSC Holdings LLC	LIBOR 1 M + 2.250%	4.410	%	07/17/25	$	972
	2,795,500	h,i	Lions Gate Capital Holdings LLC	LIBOR 1 M + 2.250%	4.490		03/24/25		2,798
	13,324	i	Mission Broadcasting, Inc	LIBOR 1 M + 2.500%	4.600		01/17/24		13
	95,001	i	Nexstar Broadcasting, Inc	LIBOR 1 M + 2.500%	4.600		01/17/24		95
	1,500,000	i	Nielsen Finance LLC	LIBOR 1 M + 2.000%	4.130		10/04/23		1,497
	750,000	i	Virgin Media Bristol LLC	LIBOR 1 M + 2.500%	4.660		01/15/26		751
			TOTAL MEDIA						6,126
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	123,750	i	Endo Luxembourg Finance I Co Sarl	LIBOR 1 M + 4.250%	6.500		04/29/24		125
	1,500,000	h,i	Valeant Pharmaceuticals International, Inc	LIBOR 1 M + 3.000%	5.100		06/02/25		1,507
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						1,632
REAL ESTATE - 0.0%
	1,400,000	i	DTZ US Borrower LLC	LIBOR 1 M + 3.250%	4.500		08/21/25		1,405
			TOTAL REAL ESTATE						1,405
RETAILING - 0.0%
	797,125	i	PetSmart, Inc	LIBOR 1 M + 3.000%	5.120		03/11/22		694
			TOTAL RETAILING						694
SOFTWARE & SERVICES - 0.1%
	4,500,000	h,i	Financial & Risk US Holdings, Inc	LIBOR 1 M + 3.750%	3.750		09/18/25		4,488
	1,243,552	i	First Data Corp	LIBOR 1 M + 2.000%	4.210		07/08/22		1,245
	98,260	i	Sabre GLBL, Inc	LIBOR 1 M + 2.000%	4.240		02/22/24		99
			TOTAL SOFTWARE & SERVICES						5,832
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	476,525	i	CommScope, Inc	LIBOR 1 M + 2.000%	4.240		12/29/22		478
	1,500,000	i	Dell International LLC	LIBOR 1 M + 2.000%	4.250		09/07/23		1,503
	1,400,000	h,i	Plantronics, Inc	LIBOR 1 M + 2.500%	4.740		07/02/25		1,404
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						3,385
TRANSPORTATION - 0.0%
	2,939,500	h,i	American Airlines, Inc	LIBOR 1 M + 2.000%	4.160		12/14/23		2,922
	1,400,000	h,i	TransDigm, Inc	LIBOR 1 M + 2.500%	4.740		08/22/24		1,404
	546,250	h,i	Vouvray US Finance, LLC	LIBOR 1 M + 3.000%	5.240		03/11/24		545
			TOTAL TRANSPORTATION						4,871
			TOTAL BANK LOAN OBLIGATIONS						41,508
			(Cost $41,476)
BONDS - 97.6%
CORPORATE BONDS - 31.8%
AUTOMOBILES & COMPONENTS - 0.4%
EUR	650,000	g	Adient Global Holdings Ltd		3.500		08/15/24		702
$	4,050,000		Aptiv plc		3.150		11/19/20		4,018
	8,775,000		General Motors Co		4.200		10/01/27		8,274
	6,950,000		General Motors Co		6.600		04/01/36		7,403
	3,350,000		General Motors Co		6.250		10/02/43		3,431
	6,500,000		General Motors Co		5.200		04/01/45		5,897

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	1,925,000		General Motors Co	6.750	%	04/01/46	$	2,081
	2,425,000	g	Hyundai Capital America	2.600		03/19/20		2,390
	3,850,000	g	Hyundai Capital America	2.550		04/03/20		3,785
	4,800,000	g	Hyundai Capital America	3.250		09/20/22		4,652
	4,000,000	g	Hyundai Capital America	4.125		06/08/23		3,971
EUR	400,000	g,o	IHO Verwaltungs GmbH	3.750		09/15/26		479
$	8,675,000		Magna International, Inc	3.625		06/15/24		8,578
			TOTAL AUTOMOBILES & COMPONENTS					55,661
BANKS - 6.7%
	3,075,000	g	Akbank TAS	7.200		03/16/27		2,560
	6,000,000		Australia & New Zealand Banking Group Ltd	2.625		05/19/22		5,795
	4,000,000	g	Banco de Bogota S.A.	6.250		05/12/26		4,164
	11,000,000	g	Banco del Estado de Chile	2.668		01/08/21		10,739
	3,500,000	g	Banco do Brasil S.A.	4.625		01/15/25		3,226
	550,000	g	Banco General S.A.	4.125		08/07/27		520
	3,800,000	g	Banco Internacional del Peru SAA Interbank	3.375		01/18/23		3,639
	6,400,000		Banco Santander S.A.	3.125		02/23/23		6,073
	3,800,000		Banco Santander S.A.	3.800		02/23/28		3,451
	4,275,000	g	Bangkok Bank PCL	4.050		03/19/24		4,271
	5,000,000	g	Bank Nederlandse Gemeenten	2.625		04/28/21		4,947
	2,350,000	g	Bank Nederlandse Gemeenten NV	2.500		02/28/20		2,336
	15,900,000		Bank of America Corp	2.151		11/09/20		15,559
	15,000,000		Bank of America Corp	3.864		07/23/24		14,996
EUR	400,000		Bank of America Corp	1.375		03/26/25		469
$	10,200,000		Bank of America Corp	3.875		08/01/25		10,134
	200,000		Bank of America Corp	4.250		10/22/26		198
EUR	300,000		Bank of America Corp	1.776		05/04/27		354
$	28,050,000		Bank of America Corp	3.248		10/21/27		26,083
	7,300,000		Bank of America Corp	3.419		12/20/28		6,847
	500,000		Bank of America Corp	3.970		03/05/29		488
	10,000,000		Bank of America Corp	4.271		07/23/29		9,979
	5,350,000		Bank of Montreal	3.803		12/15/32		4,999
	25,000,000		Bank of Nova Scotia	2.125		09/11/19		24,821
	5,450,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd	2.350		09/08/19		5,419
	5,900,000		Barclays plc	4.338		05/16/24		5,827
	6,700,000		Barclays plc	3.650		03/16/25		6,283
	500,000		Barclays plc	5.200		05/12/26		491
	30,000,000	g	BNG Bank NV	3.000		09/20/23		29,752
	5,100,000	g	BNP Paribas S.A.	3.375		01/09/25		4,826
	1,625,000	g	BNP Paribas S.A.	4.375		03/01/33		1,544
	2,450,000	g	BPCE S.A.	4.000		09/12/23		2,416
	5,224,000	g	BPCE S.A.	4.625		07/11/24		5,172
	1,733,000	g	BPCE S.A.	4.500		03/15/25		1,694
	26,000,000	g	Canadian Imperial Bank of Commerce	3.150		06/27/21		25,915
	9,750,000		Capital One Bank USA NA	2.650		08/08/22		9,369
	4,500,000		Capital One Bank USA NA	3.375		02/15/23		4,377
	20,320,000		Capital One NA	2.350		01/31/20		20,094
	50,075,000		Citigroup, Inc	3.200		10/21/26		46,744
	6,575,000		Citigroup, Inc	4.300		11/20/26		6,478
	10,850,000		Citigroup, Inc	3.668		07/24/28		10,333
	175,000		Citigroup, Inc	4.650		07/30/45		176
	3,000,000		Citigroup, Inc	4.650		07/23/48		3,030

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	7,400,000		Citizens Bank NA	2.650	%	05/26/22	$	7,114
	6,500,000		Compass Bank	2.875		06/29/22		6,269
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA	3.950		11/09/22		6,830
	5,650,000	g	Cooperatieve Rabobank UA	3.875		09/26/23		5,633
	19,900,000		Cooperatieve Rabobank UA	3.750		07/21/26		18,787
EUR	600,000		Credit Agricole Assurances S.A.	4.250		01/13/67		735
$	4,825,000	g	Credit Agricole S.A.	2.500		04/15/19		4,818
	5,500,000	g	Credit Agricole S.A.	2.375		07/01/21		5,335
	11,050,000	g	Credit Agricole S.A.	3.250		10/04/24		10,362
	2,450,000	g	DBS Group Holdings Ltd	4.520		12/11/28		2,473
EUR	500,000		Deutsche Bank AG.	1.250		09/08/21		582
$	9,200,000		Deutsche Bank AG.	3.950		02/27/23		8,932
	4,875,000		Discover Bank	3.200		08/09/21		4,810
	1,400,000		Discover Bank	3.450		07/27/26		1,302
EUR	500,000		FCE Bank plc	1.134		02/10/22		581
$	5,150,000		HSBC Holdings plc	2.650		01/05/22		4,997
	6,575,000		HSBC Holdings plc	3.262		03/13/23		6,441
GBP	500,000		HSBC Holdings plc	2.175		06/27/23		647
$	4,250,000		HSBC Holdings plc	3.033		11/22/23		4,104
	8,000,000		HSBC Holdings plc	3.950		05/18/24		7,946
	250,000		HSBC Holdings plc	4.250		08/18/25		245
	11,825,000		HSBC Holdings plc	3.900		05/25/26		11,462
	11,800,000		HSBC Holdings plc	4.292		09/12/26		11,668
	3,825,000		HSBC Holdings plc	4.375		11/23/26		3,758
	6,450,000		HSBC Holdings plc	4.041		03/13/28		6,210
	13,025,000		Huntington National Bank	2.500		08/07/22		12,479
	2,125,000	g	Intercorp Financial Services, Inc	4.125		10/19/27		1,945
EUR	600,000		Intesa Sanpaolo S.p.A	3.500		01/17/22		737
$	3,100,000	g	Intesa Sanpaolo S.p.A	3.875		01/12/28		2,625
	12,925,000		JPMorgan Chase & Co	2.750		06/23/20		12,828
	16,725,000		JPMorgan Chase & Co	2.295		08/15/21		16,259
	10,850,000		JPMorgan Chase & Co	2.776		04/25/23		10,537
	4,850,000		JPMorgan Chase & Co	2.700		05/18/23		4,664
	20,400,000		JPMorgan Chase & Co	3.200		06/15/26		19,327
	21,275,000		JPMorgan Chase & Co	2.950		10/01/26		19,755
	12,500,000		JPMorgan Chase & Co	4.203		07/23/29		12,439
	5,750,000		JPMorgan Chase & Co	3.882		07/24/38		5,370
	200,000		JPMorgan Chase & Co	4.950		06/01/45		209
	2,700,000		KeyBank NA	2.500		12/15/19		2,686
	200,000		Lloyds Banking Group plc	3.574		11/07/28		183
	4,475,000	g	Macquarie Bank Ltd	2.600		06/24/19		4,464
	9,950,000		Manufacturers & Traders Trust Co	2.100		02/06/20		9,829
	12,500,000		Mitsubishi UFJ Financial Group, Inc	3.761		07/26/23		12,433
	8,850,000		Mizuho Financial Group, Inc	3.922		09/11/24		8,793
	17,000,000		PNC Bank NA	2.600		07/21/20		16,878
	5,625,000		PNC Bank NA	2.450		11/05/20		5,532
	10,950,000		PNC Bank NA	2.700		11/01/22		10,546
	6,000,000		PNC Financial Services Group, Inc	3.900		04/29/24		5,968
	40,000,000		Royal Bank of Canada	1.875		02/05/20		39,383
	9,350,000		Santander Holdings USA, Inc	3.400		01/18/23		9,015
	4,825,000		Santander Holdings USA, Inc	4.400		07/13/27		4,611
	3,325,000		Santander UK Group Holdings plc	3.571		01/10/23		3,230
	13,100,000	g	Skandinaviska Enskilda Banken AB	2.625		11/17/20		12,890
	6,650,000		Sumitomo Mitsui Banking Corp	2.450		01/16/20		6,589

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	13,875,000		Sumitomo Mitsui Financial Group, Inc	2.442	%	10/19/21	$	13,425
	3,675,000		Sumitomo Mitsui Financial Group, Inc	2.778		10/18/22		3,534
	6,850,000		SunTrust Banks, Inc	2.900		03/03/21		6,771
	5,700,000		SunTrust Banks, Inc	2.750		05/01/23		5,490
	7,275,000		SunTrust Banks, Inc	4.000		05/01/25		7,288
	3,500,000	g	TC Ziraat Bankasi AS.	5.125		09/29/23		2,980
	13,700,000		Toronto-Dominion Bank	1.850		09/11/20		13,389
	2,350,000		Toronto-Dominion Bank	3.625		09/15/31		2,207
	2,100,000	g	Turkiye Is Bankasi	5.500		04/21/22		1,775
	4,275,000	g	Turkiye Is Bankasi	6.125		04/25/24		3,542
	5,000,000	g	UBS AG.	2.450		12/01/20		4,896
	2,650,000	g	UBS AG.	4.500		06/26/48		2,739
	5,700,000		UnionBanCal Corp	3.500		06/18/22		5,663
	7,575,000		Wells Fargo Bank NA	3.325		07/23/21		7,566
	10,000,000	g	Westpac Banking Corp	1.850		11/26/18		9,990
	10,000,000		Westpac Banking Corp	2.750		01/11/23		9,646
	8,475,000		Westpac Banking Corp	4.322		11/23/31		8,162
	5,000,000	g	Yapi ve Kredi Bankasi AS.	6.100		03/16/23		4,401
			TOTAL BANKS					884,297
CAPITAL GOODS - 0.6%
GBP	1,000,000		BAE Systems plc	4.125		06/08/22		1,402
$	250,000		Eaton Corp	4.150		11/02/42		237
	9,575,000		General Electric Co	4.125		10/09/42		8,525
GBP	650,000		Glencore Finance Europe S.A.	6.500		02/27/19		864
EUR	1,000,000		Illinois Tool Works, Inc	1.250		05/22/23		1,198
	600,000		Johnson Controls International plc	1.000		09/15/23		698
$	2,650,000	g	Korea East-West Power Co Ltd	3.875		07/19/23		2,645
	8,350,000		Lockheed Martin Corp	2.500		11/23/20		8,233
	5,200,000		Lockheed Martin Corp	3.550		01/15/26		5,132
	6,375,000	g	Molex Electronic Technologies LLC	2.878		04/15/20		6,305
	9,825,000	g	Molex Electronic Technologies LLC	3.900		04/15/25		9,627
	1,725,000		Mosaic Co	4.875		11/15/41		1,585
EUR	500,000		Parker-Hannifin Corp	1.125		03/01/25		579
$	8,725,000		Rockwell Collins, Inc	3.500		03/15/27		8,286
	500,000		Rockwell Collins, Inc	4.350		04/15/47		476
	4,600,000		Roper Technologies, Inc	4.200		09/15/28		4,575
	350,000	g	Stena AB	7.000		02/01/24		331
	2,075,000		Textron, Inc	3.875		03/01/25		2,039
	650,000		Trimble, Inc	4.900		06/15/28		653
EUR	500,000		United Technologies Corp	1.150		05/18/24		584
$	4,500,000		United Technologies Corp	4.450		11/16/38		4,463
	8,225,000		United Technologies Corp	3.750		11/01/46		7,187
	1,775,000		Wabtec Corp	4.700		09/15/28		1,741
			TOTAL CAPITAL GOODS					77,365
COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	4,875,000		AECOM	5.875		10/15/24		5,163
	4,400,000		RELX Capital, Inc	3.500		03/16/23		4,343
	11,102,000		Republic Services, Inc	3.550		06/01/22		11,098
	8,171,000		Republic Services, Inc	2.900		07/01/26		7,598
	9,650,000		Waste Management, Inc	2.900		09/15/22		9,433
	9,700,000		Waste Management, Inc	3.150		11/15/27		9,228

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	2,000,000		Waste Management, Inc	3.900	%	03/01/35	$	1,952
	2,225,000		Waste Management, Inc	4.100		03/01/45		2,183
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					50,998
CONSUMER DURABLES & APPAREL - 0.1%
	8,075,000		Newell Rubbermaid, Inc	4.200		04/01/26		7,677
EUR	500,000		Whirlpool Finance Luxembourg Sarl	1.100		11/09/27		543
			TOTAL CONSUMER DURABLES & APPAREL					8,220
CONSUMER SERVICES - 1.0%
$	1,425,000		ADT Corp	6.250		10/15/21		1,495
	1,390,000		ADT Corp	3.500		07/15/22		1,315
	9,820,000		Amherst College	4.100		11/01/45		9,787
EUR	680,000	g	Aramark International Finance Sarl	3.125		04/01/25		821
$	3,400,000	g	Arcos Dorados Holdings, Inc	5.875		04/04/27		3,184
	600,000		Boyd Gaming Corp	6.000		08/15/26		605
	2,000,000		Duke University	3.199		10/01/38		1,808
	16,000,000		George Washington University	3.545		09/15/46		14,328
	1,610,000	g	International Game Technology	6.250		02/15/22		1,668
	1,610,000	g	International Game Technology	6.500		02/15/25		1,670
EUR	500,000	g	International Game Technology plc	4.750		02/15/23		626
$	5,000,000		Johns Hopkins University	4.083		07/01/53		4,873
	750,000		MGM Resorts International	4.625		09/01/26		699
	9,605,000		Northwestern University	3.812		12/01/50		9,013
	8,000,000		President and Fellows of Harvard College	3.529		10/01/31		7,833
	14,250,000		President and Fellows of Harvard College	3.619		10/01/37		13,827
	8,108,000	g	Prime Security Services Borrower LLC	9.250		05/15/23		8,672
	2,025,000	g	Sands China Ltd	5.125		08/08/25		2,020
	1,000,000	g	Scientific Games International, Inc	5.000		10/15/25		950
EUR	500,000	g	Scientific Games International, Inc	3.375		02/15/26		552
$	2,600,000	g	ServiceMaster Co LLC	5.125		11/15/24		2,567
	15,000,000		Smith College	4.620		07/01/45		16,047
	6,600,000		Trustees of Dartmouth College	3.474		06/01/46		6,052
	21,000,000		University of Chicago	4.151		10/01/45		20,274
			TOTAL CONSUMER SERVICES					130,686
DIVERSIFIED FINANCIALS - 3.2%
	6,150,000		AerCap Ireland Capital DAC	4.125		07/03/23		6,103
	500,000		AerCap Ireland Capital Ltd	5.000		10/01/21		514
	10,625,000		American Express Co	2.500		08/01/22		10,194
	300,000		American Express Credit Corp	2.375		05/26/20		296
	2,425,000		American Express Credit Corp	2.700		03/03/22		2,362
	2,775,000		American Express Credit Corp	3.300		05/03/27		2,665
	2,250,000	g	Avolon Holdings Funding Ltd	5.125		10/01/23		2,270
	4,125,000		Bank of New York Mellon Corp	5.450		05/15/19		4,194
	7,225,000		Bank of New York Mellon Corp	3.500		04/28/23		7,206
	300,000	g	BBVA Bancomer S.A.	5.350		11/12/29		287
	4,575,000	g	BBVA Bancomer S.A.	5.125		01/18/33		4,158
	10,525,000		Berkshire Hathaway, Inc	3.125		03/15/26		10,150
	250,000		Capital One Financial Corp	3.050		03/09/22		244
	250,000		Credit Suisse	3.625		09/09/24		246
	9,800,000	g	Credit Suisse Group AG.	2.997		12/14/23		9,349
	3,900,000	g	Credit Suisse Group AG.	4.282		01/09/28		3,791

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
EUR	750,000		Credit Suisse Group Funding Guernsey Ltd	1.250	%	04/14/22	$	885
$	7,700,000		Credit Suisse Group Funding Guernsey Ltd	3.800		06/09/23		7,610
	10,250,000		Credit Suisse Group Funding Guernsey Ltd	3.750		03/26/25		9,882
	13,800,000	g	Daimler Finance North America LLC	2.200		10/30/21		13,223
	100,000		Discover Financial Services	3.950		11/06/24		98
	6,820,000		DY8 Leasing LLC	2.627		04/29/26		6,665
	10,145,427		DY9 Leasing LLC	2.372		03/19/27		9,761
	4,975,000		Ford Motor Credit Co LLC	2.425		06/12/20		4,870
	4,000,000		Ford Motor Credit Co LLC	3.096		05/04/23		3,751
	12,925,000		Ford Motor Credit Co LLC	3.815		11/02/27		11,556
	8,628,000		GE Capital International Funding Co	4.418		11/15/35		8,087
	1,432,000		General Electric Capital Corp	5.875		01/14/38		1,597
	108,000		General Electric Capital Corp	6.875		01/10/39		135
	6,500,000		General Motors Financial Co, Inc	3.950		04/13/24		6,329
	300,000		General Motors Financial Co, Inc	4.300		07/13/25		292
EUR	300,000		General Motors Financial International BV	1.875		10/15/19		355
	850,000		Goldman Sachs Group, Inc	2.000		07/27/23		1,031
$	13,575,000		Goldman Sachs Group, Inc	3.500		01/23/25		13,144
	25,350,000		Goldman Sachs Group, Inc	3.691		06/05/28		24,115
	500,000		Goldman Sachs Group, Inc	4.223		05/01/29		492
	6,075,000		Goldman Sachs Group, Inc	4.017		10/31/38		5,624
	7,675,000		Goldman Sachs Group, Inc	4.800		07/08/44		7,842
	100,000		Goldman Sachs Group, Inc	5.150		05/22/45		102
	1,624,805		Golondrina Leasing LLC	1.822		05/03/25		1,552
	1,216,639		Helios Leasing I LLC	2.018		05/29/24		1,177
	1,725,000		Icahn Enterprises LP	5.875		02/01/22		1,748
	5,750,000	g	ICICI Bank Ltd	3.800		12/14/27		5,163
	3,200,000		International Lease Finance Corp	5.875		04/01/19		3,244
	5,000,000		International Lease Finance Corp	5.875		08/15/22		5,288
	3,050,000		Jefferies Group LLC	4.150		01/23/30		2,739
	250,000		Jefferies Group, Inc	6.450		06/08/27		271
	1,625,000		Legg Mason, Inc	2.700		07/15/19		1,623
	2,400,000		Legg Mason, Inc	3.950		07/15/24		2,366
EUR	350,000	g	Lincoln Finance Ltd	6.875		04/15/21		421
$	7,625,000		Morgan Stanley	3.125		01/23/23		7,427
	2,750,000		Morgan Stanley	3.737		04/24/24		2,731
	24,800,000		Morgan Stanley	3.700		10/23/24		24,410
	23,475,000		Morgan Stanley	3.125		07/27/26		21,859
	250,000		Morgan Stanley	4.350		09/08/26		248
EUR	900,000		Morgan Stanley	1.342		10/23/26		1,028
$	8,225,000		Morgan Stanley	3.625		01/20/27		7,893
	2,660,000		National Rural Utilities Cooperative Finance Corp	10.375		11/01/18		2,676
	4,500,000	g	Nederlandse Waterschapsbank NV	2.125		11/15/21		4,368
	5,000,000	g	Nederlandse Waterschapsbank NV	1.875		04/14/22		4,790
	3,363,130		Santa Rosa Leasing LLC	1.693		08/15/24		3,222
	100,000		Shire Acquisitions Investments Ireland DAC	2.400		09/23/21		97
	17,580,000		Shire Acquisitions Investments Ireland DAC	3.200		09/23/26		16,224
	200,000		Synchrony Financial	4.250		08/15/24		193
	6,625,000		TD Ameritrade Holding Corp	3.300		04/01/27		6,343
	6,800,000	g	UBS Group Funding Jersey Ltd	2.950		09/24/20		6,735
	11,600,000	g	UBS Group Funding Jersey Ltd	2.650		02/01/22		11,211
	9,775,000		Unilever Capital Corp	2.900		05/05/27		9,206
	45,550,000		Wells Fargo & Co	2.625		07/22/22		43,987

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	16,950,000		Wells Fargo & Co	3.584	%	05/22/28	$	16,250
			TOTAL DIVERSIFIED FINANCIALS					417,965
ENERGY - 3.4%
	425,000	g	Abu Dhabi Crude Oil Pipeline LLC	3.650		11/02/29		403
	1,825,000	g	Abu Dhabi Crude Oil Pipeline LLC	4.600		11/02/47		1,776
	2,375,000		AmeriGas Partners LP	5.625		05/20/24		2,357
	2,050,000		AmeriGas Partners LP	5.875		08/20/26		2,035
	4,200,000		Anadarko Petroleum Corp	5.550		03/15/26		4,463
	5,925,000		Anadarko Petroleum Corp	4.500		07/15/44		5,419
	100,000		Andeavor	5.125		12/15/26		105
	3,025,000		Andeavor Logistics LP	4.250		12/01/27		2,954
	3,100,000		Andeavor Logistics LP	5.200		12/01/47		3,091
	79,000		Apache Corp	3.250		04/15/22		78
	1,575,000	g	APT Pipelines Ltd	4.250		07/15/27		1,536
	13,000,000		BP Capital Markets America, Inc	3.796		09/21/25		13,041
	13,300,000		BP Capital Markets plc	2.315		02/13/20		13,177
	3,800,000		BP Capital Markets plc	2.520		09/19/22		3,671
	7,500,000		BP Capital Markets plc	3.588		04/14/27		7,331
	6,575,000		BP Capital Markets plc	3.279		09/19/27		6,286
	699,000	g	California Resources Corp	8.000		12/15/22		667
	478,000		California Resources Corp	6.000		11/15/24		406
	6,500,000		Cenovus Energy, Inc	4.450		09/15/42		5,690
	2,800,000	g	Cheniere Energy Partners LP	5.625		10/01/26		2,820
	3,025,000		Cimarex Energy Co	3.900		05/15/27		2,887
	6,200,000	g	Colonial Pipeline Co	4.250		04/15/48		5,931
	6,150,000		Concho Resources, Inc	3.750		10/01/27		5,867
	7,275,000		Continental Resources, Inc	3.800		06/01/24		7,132
	690,000		Continental Resources, Inc	4.375		01/15/28		684
	2,375,000		Crestwood Midstream Partners LP	5.750		04/01/25		2,425
	2,900,000		Devon Energy Corp	5.000		06/15/45		2,897
	2,600,000		Ecopetrol S.A.	5.375		06/26/26		2,678
	7,750,000		Enbridge, Inc	3.700		07/15/27		7,481
	8,900,000		Energy Transfer Partners LP	4.750		01/15/26		8,989
	7,850,000		Energy Transfer Partners LP	4.950		06/15/28		7,988
	5,125,000		Enterprise Products Operating LLC	3.700		02/15/26		5,045
	4,775,000		Enterprise Products Operating LLC	4.450		02/15/43		4,623
	1,925,000		Enterprise Products Operating LLC	4.850		03/15/44		1,959
	4,025,000		Enterprise Products Operating LLC	4.250		02/15/48		3,783
	100,000		Enterprise Products Operating LLC	5.250		08/16/77		93
	2,250,000		Exterran Partners LP	6.000		10/01/22		2,270
	4,750,000		Exxon Mobil Corp	2.222		03/01/21		4,658
	300,000	g	Gazprom OAO Via Gaz Capital S.A.	4.950		03/23/27		288
	200,000	g	Gazprom OAO Via Gaz Capital S.A.	4.950		02/06/28		191
	3,000,000		HollyFrontier Corp	5.875		04/01/26		3,197
	2,739,000		Husky Energy, Inc	3.950		04/15/22		2,761
	5,275,000	g	KazMunayGas National Co JSC	5.375		04/24/30		5,364
	2,825,000		Kinder Morgan, Inc	9.000		02/01/19		2,880
EUR	500,000		Kinder Morgan, Inc	2.250		03/16/27		597
$	9,200,000		Kinder Morgan, Inc	4.300		03/01/28		9,115
	2,215,000		Kinder Morgan, Inc	5.300		12/01/34		2,287
	4,850,000		Kinder Morgan, Inc	5.400		09/01/44		4,972
	5,030,000		Marathon Oil Corp	2.700		06/01/20		4,965
	2,000,000		Marathon Oil Corp	4.400		07/15/27		1,999

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	3,000,000		Marathon Oil Corp	5.200	%	06/01/45	$	3,123
	4,240,000		MPLX LP	5.500		02/15/23		4,325
	11,387,000		MPLX LP	4.125		03/01/27		11,086
	5,850,000		MPLX LP	4.000		03/15/28		5,624
	6,150,000		MPLX LP	4.500		04/15/38		5,789
	6,150,000		MPLX LP	4.700		04/15/48		5,750
	900,000		Noble Energy, Inc	3.900		11/15/24		884
	9,500,000		Noble Energy, Inc	3.850		01/15/28		8,969
	6,075,000		Noble Energy, Inc	5.050		11/15/44		5,876
	1,500,000		Noble Energy, Inc	4.950		08/15/47		1,434
	10,850,000		ONE Gas, Inc	2.070		02/01/19		10,811
	3,500,000		ONE Gas, Inc	3.610		02/01/24		3,469
	2,500,000		ONEOK, Inc	4.000		07/13/27		2,416
	6,150,000		ONEOK, Inc	4.550		07/15/28		6,177
	5,125,000	g	Pertamina Persero PT	4.300		05/20/23		5,085
	3,050,000	g	Peru LNG Srl	5.375		03/22/30		3,039
	2,025,000		Petrobras Global Finance BV	5.299		01/27/25		1,891
	2,335,000		Petrobras Global Finance BV	5.999		01/27/28		2,154
	400,000		Petrobras Global Finance BV	5.750		02/01/29		358
	750,000		Petrobras Global Finance BV	7.250		03/17/44		711
	750,000	g	Petroleos del Peru S.A.	4.750		06/19/32		727
	4,000,000		Petroleos Mexicanos	6.375		02/04/21		4,194
	1,500,000		Petroleos Mexicanos	4.875		01/24/22		1,517
EUR	375,000		Petroleos Mexicanos	1.875		04/21/22		429
$	9,000,000		Petroleos Mexicanos	1.950		12/20/22		8,773
	4,815,000		Petroleos Mexicanos	2.000		12/20/22		4,699
	9,000,000		Petroleos Mexicanos	3.500		01/30/23		8,532
	3,900,000		Petroleos Mexicanos	4.500		01/23/26		3,647
	1,775,000		Petroleos Mexicanos	6.500		03/13/27		1,813
	3,300,000	g	Petroleos Mexicanos	5.350		02/12/28		3,110
	4,500,000		Petroleos Mexicanos	6.500		06/02/41		4,219
	4,180,000		Petroleos Mexicanos	5.500		06/27/44		3,538
	1,800,000		Petroleos Mexicanos	6.750		09/21/47		1,718
	2,600,000	g	Petroleos Mexicanos	6.350		02/12/48		2,382
	6,575,000		Phillips 66 Partners LP	3.550		10/01/26		6,199
	3,275,000		Phillips 66 Partners LP	4.680		02/15/45		3,099
	1,600,000		Phillips 66 Partners LP	4.900		10/01/46		1,568
	614,000		Pioneer Natural Resources Co	7.500		01/15/20		646
	8,675,000		Pioneer Natural Resources Co	3.450		01/15/21		8,672
	6,850,000		Pioneer Natural Resources Co	4.450		01/15/26		7,015
	100,000		Plains All American Pipeline LP	4.500		12/15/26		100
	3,335,000		Range Resources Corp	5.000		08/15/22		3,302
	1,200,000		Regency Energy Partners LP	4.500		11/01/23		1,217
	4,750,000	g	Reliance Industries Ltd	3.667		11/30/27		4,360
	9,875,000		Sabine Pass Liquefaction LLC	4.200		03/15/28		9,574
	6,000,000		Shell International Finance BV	2.375		08/21/22		5,807
	4,875,000		Shell International Finance BV	3.250		05/11/25		4,781
	6,825,000		Shell International Finance BV	4.000		05/10/46		6,668
	3,950,000		Spectra Energy Partners LP	3.500		03/15/25		3,804
	5,300,000		Statoil ASA	2.450		01/17/23		5,104
	250,000		Suncor Energy, Inc	3.600		12/01/24		248
	4,200,000		Suncor Energy, Inc	4.000		11/15/47		3,953
	6,500,000		Sunoco Logistics Partners Operations LP	4.000		10/01/27		6,168

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	1,000,000	g	Sunoco LP	4.875	%	01/15/23	$	990
	600,000		Targa Resources Partners LP	5.125		02/01/25		603
	1,000,000	g	Targa Resources Partners LP	5.875		04/15/26		1,031
EUR	600,000		Total Capital International S.A.	2.500		03/25/26		777
$	2,500,000		Vale Overseas Ltd	6.250		08/10/26		2,740
	2,760,000		Vale Overseas Ltd	6.875		11/21/36		3,210
	6,150,000		Valero Energy Partners LP	4.500		03/15/28		6,038
	3,850,000		Western Gas Partners LP	3.950		06/01/25		3,670
	4,550,000		Western Gas Partners LP	4.650		07/01/26		4,458
	5,075,000		Williams Partners LP	3.600		03/15/22		5,044
	1,500,000		Williams Partners LP	3.750		06/15/27		1,431
	1,175,000		Williams Partners LP	4.900		01/15/45		1,141
	350,000		WPX Energy, Inc	8.250		08/01/23		397
	2,400,000		WPX Energy, Inc	5.250		09/15/24		2,416
	3,500,000	g	YPF S.A.	8.500		07/28/25		3,413
	2,225,000	g	YPF S.A.	6.950		07/21/27		1,946
	3,375,000	g	YPF S.A.	7.000		12/15/47		2,675
			TOTAL ENERGY					455,846
FOOD & STAPLES RETAILING - 0.7%
	9,200,000		CVS Health Corp	3.700		03/09/23		9,159
	15,950,000		CVS Health Corp	2.875		06/01/26		14,620
	26,875,000		CVS Health Corp	4.300		03/25/28		26,610
	20,300,000		CVS Health Corp	4.780		03/25/38		20,142
	150,000		CVS Health Corp	5.125		07/20/45		154
	3,350,000		CVS Health Corp	5.050		03/25/48		3,423
	4,900,000		Ingles Markets, Inc	5.750		06/15/23		4,961
	5,575,000		Kroger Co	3.700		08/01/27		5,338
EUR	1,000,000		SYSCO Corp	1.250		06/23/23		1,192
$	7,575,000		Walgreens Boots Alliance, Inc	3.450		06/01/26		7,197
			TOTAL FOOD & STAPLES RETAILING					92,796
FOOD, BEVERAGE & TOBACCO - 1.2%
	13,700,000		Anheuser-Busch InBev Finance, Inc	2.650		02/01/21		13,504
	20,025,000		Anheuser-Busch InBev Finance, Inc	3.300		02/01/23		19,769
	29,385,000		Anheuser-Busch InBev Finance, Inc	3.650		02/01/26		28,514
	6,825,000		Anheuser-Busch InBev Worldwide, Inc	4.600		04/15/48		6,600
	8,125,000	g	BAT Capital Corp	3.557		08/15/27		7,562
	8,200,000		Constellation Brands, Inc	3.600		02/15/28		7,669
	3,000,000	g	Corp Lindley S.A.	4.625		04/12/23		3,037
	1,475,000	g	Cosan Ltd	5.950		09/20/24		1,392
	5,800,000		Diageo Capital plc	3.500		09/18/23		5,818
	4,925,000		Diageo Capital plc	3.875		05/18/28		4,952
	4,000,000	g	Grupo Bimbo SAB de C.V.	4.700		11/10/47		3,687
	2,400,000	g	Grupo Bimbo SAB de C.V.	5.950		12/30/49		2,406
EUR	465,000		Heineken NV	2.875		08/04/25		601
$	8,425,000	g	Heineken NV	3.500		01/29/28		8,041
	3,600,000	g	Heineken NV	4.350		03/29/47		3,510
	150,000		JM Smucker Co	4.375		03/15/45		138
	3,900,000		Kellogg Co	3.400		11/15/27		3,623
	200,000		Kraft Heinz Foods Co	5.200		07/15/45		195
	4,115,000		Mead Johnson Nutrition Co	4.900		11/01/19		4,195
	9,200,000		Mondelez International, Inc	4.125		05/07/28		9,086
	3,125,000		PepsiCo, Inc	3.450		10/06/46		2,804

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	1,600,000		Philip Morris International, Inc		6.375	%	05/16/38	$	1,923
	2,700,000		Tyson Foods, Inc		3.900		09/28/23		2,710
	4,600,000		Tyson Foods, Inc		3.550		06/02/27		4,339
	5,800,000		Tyson Foods, Inc		5.100		09/28/48		5,906
			TOTAL FOOD, BEVERAGE & TOBACCO						151,981
HEALTH CARE EQUIPMENT & SERVICES - 0.7%
	11,100,000		Anthem, Inc		3.650		12/01/27		10,549
	400,000		Becton Dickinson & Co		4.685		12/15/44		394
EUR	430,000		Becton Dickinson and Co		1.401		05/24/23		504
	470,000		Becton Dickinson and Co		1.900		12/15/26		546
$	17,775,000		Becton Dickinson and Co		3.700		06/06/27		16,993
	7,250,000		Cardinal Health, Inc		3.410		06/15/27		6,688
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,761
	4,105,000		Dartmouth-Hitchcock Health		4.178		08/01/48		3,955
EUR	500,000		DH Europe Finance S.A.		1.200		06/30/27		574
$	6,055,000		Johns Hopkins Health System Corp		3.837		05/15/46		5,710
	200,000		Laboratory Corp of America Holdings		3.600		02/01/25		195
	3,700,000		Medtronic, Inc		4.625		03/15/45		3,912
	12,500,000		Mercy Health		3.382		11/01/25		11,983
	5,000,000		New York and Presbyterian Hospital		3.563		08/01/36		4,640
	2,000,000		Tenet Healthcare Corp		4.375		10/01/21		1,991
EUR	150,000		Thermo Fisher Scientific, Inc		1.400		01/23/26		174
$	5,350,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		4,960
	2,225,000		Thermo Fisher Scientific, Inc		3.200		08/15/27		2,080
EUR	300,000		Thermo Fisher Scientific, Inc		1.950		07/24/29		346
	325,000		Thermo Fisher Scientific, Inc		2.875		07/24/37		384
$	2,150,000		Zimmer Biomet Holdings, Inc		3.700		03/19/23		2,135
	3,745,000		Zimmer Holdings, Inc		3.550		04/01/25		3,592
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						86,066
INSURANCE - 1.3%
	6,250,000		ACE INA Holdings, Inc		2.875		11/03/22		6,117
	1,925,000		Aetna, Inc		6.625		06/15/36		2,341
	5,500,000		Allstate Corp		3.280		12/15/26		5,294
	8,500,000		Allstate Corp		5.750		08/15/53		8,755
	2,700,000		American Financial Group, Inc		3.500		08/15/26		2,512
EUR	650,000		American International Group, Inc		1.500		06/08/23		772
$	2,500,000		American International Group, Inc		3.750		07/10/25		2,434
	6,750,000		American International Group, Inc		3.900		04/01/26		6,605
	2,875,000		American International Group, Inc		4.200		04/01/28		2,843
	200,000		American International Group, Inc		3.875		01/15/35		181
	12,975,000		Aon plc		3.500		06/14/24		12,652
	500,000	g	AXA Equitable Holdings, Inc		5.000		04/20/48		465
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		19,309
EUR	500,000		Chubb INA Holdings, Inc		1.550		03/15/28		578
$	3,525,000		CNA Financial Corp		3.950		05/15/24		3,505
	3,050,000		CNA Financial Corp		3.450		08/15/27		2,823
	7,500,000	g,i	Cranberry RE Ltd	LIBOR 6 M + 1.600%	4.158		07/13/20		7,597
EUR	250,000	g	Fairfax Financial Holdings Ltd		2.750		03/29/28		292
$	5,575,000	g	Five Corners Funding Trust		4.419		11/15/23		5,720
	1,350,000		Hartford Financial Services Group, Inc		4.300		04/15/43		1,277
	4,800,000		HCA, Inc		5.625		09/01/28		4,824

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	6,250,000		Humana, Inc	3.950	%	03/15/27	$	6,140
	3,300,000	g	Liberty Mutual Group, Inc	4.250		06/15/23		3,336
EUR	750,000		Liberty Mutual Group, Inc	2.750		05/04/26		923
$	2,425,000		Lincoln National Corp	3.800		03/01/28		2,340
	3,250,000		Markel Corp	3.500		11/01/27		3,025
	1,600,000		Marsh & McLennan Cos, Inc	3.500		06/03/24		1,565
	1,365,000		Marsh & McLennan Cos, Inc	3.500		03/10/25		1,327
	4,325,000		MetLife, Inc	3.600		11/13/25		4,308
	500,000		MetLife, Inc	4.125		08/13/42		473
	8,050,000		Prudential Financial, Inc	7.375		06/15/19		8,304
	9,200,000		Prudential Financial, Inc	3.878		03/27/28		9,115
	3,000,000	g	Prudential Funding LLC	6.750		09/15/23		3,333
	10,925,000		Travelers Cos, Inc	4.000		05/30/47		10,456
	5,775,000		UnitedHealth Group, Inc	2.950		10/15/27		5,406
	4,625,000		UnitedHealth Group, Inc	3.750		10/15/47		4,293
	7,750,000	g,i	Vitality Re IX Ltd	3.796		01/10/22		7,812
	50,000		WellPoint, Inc	4.625		05/15/42		49
	2,400,000		WR Berkley Corp	5.375		09/15/20		2,475
			TOTAL INSURANCE					171,576
MATERIALS - 0.9%
	6,630,000		Air Products & Chemicals, Inc	4.375		08/21/19		6,728
	3,349,000		Albemarle Corp	5.450		12/01/44		3,491
EUR	850,000	g	Axalta Coating Systems Dutch Holding B BV	3.750		01/15/25		1,017
	250,000		Ball Corp	4.375		12/15/23		329
$	852,000		Bemis Co, Inc	3.100		09/15/26		770
	400,000		Celulosa Arauco y Constitucion S.A.	3.875		11/02/27		378
	2,375,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.000		07/17/22		2,314
	3,900,000	g	Corp Nacional del Cobre de Chile-CODELCO	3.625		08/01/27		3,730
	3,250,000	g	CRH America Finance, Inc	3.400		05/09/27		3,030
	3,725,000	g	CRH America Finance, Inc	3.950		04/04/28		3,607
	3,200,000	g	CRH America Finance, Inc	4.500		04/04/48		2,931
	1,390,000		Crown Americas LLC	4.500		01/15/23		1,396
	3,250,000		Dow Chemical Co	4.375		11/15/42		3,079
	1,000,000		Eastman Chemical Co	5.500		11/15/19		1,027
	1,100,000	g	Eldorado Gold Corp	6.125		12/15/20		1,045
	6,500,000	g	Glencore Funding LLC	4.000		03/27/27		6,098
	1,000,000		International Flavors & Fragrances, Inc	4.450		09/26/28		1,008
	2,100,000		International Flavors & Fragrances, Inc	5.000		09/26/48		2,100
	8,825,000		International Paper Co	3.000		02/15/27		8,099
	9,825,000		International Paper Co	4.350		08/15/48		8,947
	4,300,000	g	Inversiones CMPC S.A.	4.375		04/04/27		4,196
	3,400,000	g	Klabin Finance S.A.	4.875		09/19/27		3,005
	3,250,000		LYB International Finance II BV	3.500		03/02/27		3,040
	2,900,000		Martin Marietta Materials, Inc	4.250		12/15/47		2,473
	2,400,000		Newmont Mining Corp	3.500		03/15/22		2,379
	3,200,000		Newmont Mining Corp	4.875		03/15/42		3,111
	4,900,000	g	Nexa Resources S.A.	5.375		05/04/27		4,741
	3,500,000	g	Nova Chemicals Corp	4.875		06/01/24		3,370
	3,075,000		Nucor Corp	3.950		05/01/28		3,069
	4,767,000		Nutrien Ltd	3.375		03/15/25		4,518
	500,000		Nutrien Ltd	5.250		01/15/45		516
EUR	125,000	g	OCI NV	5.000		04/15/23		153
$	3,000,000	g	OCP S.A.	4.500		10/22/25		2,878

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
EUR	250,000	g	OI European Group BV	3.125	%	11/15/24	$	299
$	325,000	g	POSCO	4.000		08/01/23		324
	4,300,000		Rio Tinto Finance USA Ltd	3.750		06/15/25		4,324
	5,000,000		Rock Tenn Co	3.500		03/01/20		5,000
	4,600,000		Sherwin-Williams Co	3.450		06/01/27		4,375
EUR	750,000		Silgan Holdings, Inc	3.250		03/15/25		898
$	1,800,000		Steel Dynamics, Inc	5.250		04/15/23		1,827
	1,700,000		Westlake Chemical Corp	3.600		08/15/26		1,598
			TOTAL MATERIALS					117,218
MEDIA - 1.3%
	100,000		21st Century Fox America, Inc	3.375		11/15/26		98
	2,105,000		21st Century Fox America, Inc	7.625		11/30/28		2,657
	1,578,000		21st Century Fox America, Inc	6.550		03/15/33		1,985
	7,375,000		21st Century Fox America, Inc	6.900		08/15/39		10,025
GBP	425,000		AMC Entertainment Holdings, Inc	6.375		11/15/24		564
$	1,750,000	g	CBS Corp	2.900		06/01/23		1,664
	4,200,000		CBS Corp	2.900		01/15/27		3,756
	2,500,000		CBS Corp	3.375		02/15/28		2,290
	5,225,000		Charter Communications Operating LLC	3.579		07/23/20		5,228
	5,395,000		Charter Communications Operating LLC	4.464		07/23/22		5,484
	19,275,000		Charter Communications Operating LLC	4.908		07/23/25		19,563
	100,000		Charter Communications Operating LLC	5.375		04/01/38		97
	3,400,000		Charter Communications Operating LLC	5.375		05/01/47		3,241
	3,500,000		Cinemark USA, Inc	4.875		06/01/23		3,443
	10,650,000		Comcast Corp	2.350		01/15/27		9,365
	18,200,000		Comcast Corp	3.200		07/15/36		15,167
	3,000,000		Comcast Corp	3.900		03/01/38		2,744
	4,000,000		Discovery Communications LLC	2.950		03/20/23		3,832
GBP	300,000		Discovery Communications LLC	2.500		09/20/24		381
$	5,625,000		Discovery Communications LLC	3.950		03/20/28		5,340
	2,000,000		Lamar Media Corp	5.375		01/15/24		2,040
	7,700,000	g	NBC Universal Enterprise, Inc	1.974		04/15/19		7,665
	10,350,000		NBC Universal Media LLC	2.875		01/15/23		10,057
	1,930,000	g	Tegna, Inc	4.875		09/15/21		1,932
	2,925,000	g	Tegna, Inc	5.500		09/15/24		2,958
	5,675,000		Time Warner Cable, Inc	5.875		11/15/40		5,721
	4,075,000		Time Warner Cable, Inc	4.500		09/15/42		3,473
	20,550,000		Time Warner, Inc	2.100		06/01/19		20,444
	4,045,000		Time Warner, Inc	2.950		07/15/26		3,666
	7,500,000		Time Warner, Inc	3.800		02/15/27		7,170
	150,000		Time Warner, Inc	4.850		07/15/45		140
	5,000,000		Viacom, Inc	3.450		10/04/26		4,698
	1,150,000		Viacom, Inc	5.850		09/01/43		1,215
	675,000	g	Virgin Media Secured Finance plc	5.500		01/15/25		675
			TOTAL MEDIA					168,778
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.5%
	4,750,000		Abbott Laboratories	3.875		09/15/25		4,778
	19,450,000		Abbott Laboratories	3.750		11/30/26		19,389
	2,250,000		Abbott Laboratories	5.300		05/27/40		2,494
	5,700,000		AbbVie, Inc	3.750		11/14/23		5,671
	14,350,000		AbbVie, Inc	3.200		05/14/26		13,357

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	14,575,000		AbbVie, Inc	4.250	%	11/14/28	$	14,357
	150,000		AbbVie, Inc	4.500		05/14/35		144
	6,700,000		AbbVie, Inc	4.400		11/06/42		6,194
	8,700,000		Actavis Funding SCS	3.800		03/15/25		8,516
	9,500,000		Actavis Funding SCS	4.550		03/15/35		9,224
	134,000		Actavis Funding SCS	4.750		03/15/45		130
	5,650,000		AstraZeneca plc	3.125		06/12/27		5,270
	8,625,000		AstraZeneca plc	4.000		01/17/29		8,467
	6,800,000	g	Bayer US Finance II LLC	4.375		12/15/28		6,658
	4,650,000	g	Bayer US Finance II LLC	4.875		06/25/48		4,510
	2,900,000		Celgene Corp	3.875		08/15/25		2,856
	13,600,000		Celgene Corp	3.450		11/15/27		12,691
	6,025,000		Celgene Corp	3.900		02/20/28		5,796
	8,675,000		Gilead Sciences, Inc	2.950		03/01/27		8,070
	1,775,000		Gilead Sciences, Inc	4.000		09/01/36		1,708
	5,075,000		Gilead Sciences, Inc	4.150		03/01/47		4,799
	8,750,000		GlaxoSmithKline Capital, Inc	3.875		05/15/28		8,836
	8,150,000		Johnson & Johnson	2.900		01/15/28		7,725
	3,750,000		Johnson & Johnson	3.400		01/15/38		3,489
	3,300,000		Mylan NV	3.950		06/15/26		3,122
	5,750,000	g	Mylan, Inc	4.550		04/15/28		5,587
	9,600,000		Novartis Capital Corp	3.000		11/20/25		9,213
	500,000		Perrigo Finance plc	3.900		12/15/24		483
	17,725,000		Teva Pharmaceutical Finance Netherlands III BV	3.150		10/01/26		14,750
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					198,284
REAL ESTATE - 1.2%
	1,675,000		Alexandria Real Estate Equities, Inc	3.950		01/15/27		1,615
	2,300,000		Alexandria Real Estate Equities, Inc	3.950		01/15/28		2,206
	5,950,000		American Tower Corp	3.000		06/15/23		5,727
EUR	600,000		American Tower Corp	1.950		05/22/26		700
$	2,418,000		American Tower Corp	3.375		10/15/26		2,251
	1,600,000		American Tower Corp	3.600		01/15/28		1,494
	5,575,000		Brandywine Operating Partnership LP	4.100		10/01/24		5,469
	2,700,000		Brandywine Operating Partnership LP	3.950		11/15/27		2,550
	5,825,000		Brixmor Operating Partnership LP	3.850		02/01/25		5,610
	5,250,000		Brixmor Operating Partnership LP	4.125		06/15/26		5,088
	4,050,000		Brixmor Operating Partnership LP	3.900		03/15/27		3,836
	3,965,000		Camden Property Trust	4.625		06/15/21		4,065
	3,000,000		Camden Property Trust	2.950		12/15/22		2,915
	3,911,000		Crown Castle International Corp	4.875		04/15/22		4,035
	2,275,000		Crown Castle International Corp	3.700		06/15/26		2,173
	1,700,000		Crown Castle International Corp	3.650		09/01/27		1,596
	2,968,000		DDR Corp	3.625		02/01/25		2,811
	350,000		DDR Corp	4.700		06/01/27		352
	3,075,000		Digital Realty Trust LP	3.700		08/15/27		2,919
	1,600,000		Duke Realty LP	3.250		06/30/26		1,504
	2,525,000		Duke Realty LP	4.000		09/15/28		2,479
	2,750,000		Equity One, Inc	3.750		11/15/22		2,727
	2,754,000		Essex Portfolio LP	3.375		01/15/23		2,696
	1,625,000		Healthcare Realty Trust, Inc	3.750		04/15/23		1,589
	6,600,000		Healthcare Realty Trust, Inc	3.875		05/01/25		6,401
	3,700,000		Healthcare Trust of America Holdings LP	3.375		07/15/21		3,671
	3,550,000		Healthcare Trust of America Holdings LP	3.700		04/15/23		3,480

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	6,250,000		Healthcare Trust of America Holdings LP	3.500	%	08/01/26	$	5,827
	1,950,000		Highwoods Realty LP	3.875		03/01/27		1,871
	2,900,000		Highwoods Realty LP	4.125		03/15/28		2,820
	1,700,000		Kimco Realty Corp	3.800		04/01/27		1,624
	5,224,000		Mid-America Apartments LP	4.300		10/15/23		5,283
	5,525,000		Mid-America Apartments LP	3.750		06/15/24		5,413
	4,300,000		Mid-America Apartments LP	4.000		11/15/25		4,230
	3,575,000		Mid-America Apartments LP	3.600		06/01/27		3,404
	3,600,000		National Retail Properties, Inc	3.800		10/15/22		3,596
	5,425,000		National Retail Properties, Inc	3.300		04/15/23		5,288
	2,575,000		National Retail Properties, Inc	4.000		11/15/25		2,532
	3,000,000		National Retail Properties, Inc	3.600		12/15/26		2,855
	7,225,000		Regency Centers LP	3.900		11/01/25		7,047
	4,750,000		Regency Centers LP	3.600		02/01/27		4,507
	405,000		Ventas Realty LP	3.125		06/15/23		391
	6,150,000		Ventas Realty LP	4.000		03/01/28		5,932
	1,170,000		Weingarten Realty Investors	3.375		10/15/22		1,149
	4,800,000		Weingarten Realty Investors	3.500		04/15/23		4,710
	3,025,000		Weingarten Realty Investors	4.450		01/15/24		3,061
	3,950,000		Weingarten Realty Investors	3.850		06/01/25		3,822
	1,300,000		Weingarten Realty Investors	3.250		08/15/26		1,194
	3,575,000		Welltower, Inc	4.000		06/01/25		3,526
			TOTAL REAL ESTATE					162,041
RETAILING - 0.6%
	600,000		Asbury Automotive Group, Inc	6.000		12/15/24		606
	2,950,000		AutoNation, Inc	3.800		11/15/27		2,731
	8,850,000		Home Depot, Inc	2.000		04/01/21		8,627
	8,725,000		Home Depot, Inc	3.350		09/15/25		8,620
	5,175,000		Home Depot, Inc	3.000		04/01/26		4,966
	2,975,000		Home Depot, Inc	3.500		09/15/56		2,590
	6,875,000		O’Reilly Automotive, Inc	3.600		09/01/27		6,519
	5,050,000	g	Rolls-Royce plc	2.375		10/14/20		4,943
	1,850,000	g	Rolls-Royce plc	3.625		10/14/25		1,802
GBP	1,050,000		Rolls-Royce plc	3.375		06/18/26		1,459
$	5,625,000		Target Corp	3.625		04/15/46		5,093
	22,300,000		Walmart, Inc	3.700		06/26/28		22,315
	6,150,000		Walmart, Inc	3.950		06/28/38		6,133
			TOTAL RETAILING					76,404
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	15,640,000		Intel Corp	2.875		05/11/24		15,183
	4,800,000		Intel Corp	2.600		05/19/26		4,478
	2,500,000		Intel Corp	3.734		12/08/47		2,325
	3,475,000		Texas Instruments, Inc	2.625		05/15/24		3,340
	3,100,000		Texas Instruments, Inc	4.150		05/15/48		3,104
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					28,430
SOFTWARE & SERVICES - 0.8%
	4,175,000		Activision Blizzard, Inc	2.300		09/15/21		4,051
	4,350,000		Activision Blizzard, Inc	3.400		09/15/26		4,135
	5,200,000		Baidu, Inc	2.875		07/06/22		5,005

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	11,348,000		Fidelity National Information Services, Inc	3.625	%	10/15/20	$	11,409
GBP	150,000		Fidelity National Information Services, Inc	1.700		06/30/22		193
EUR	375,000		Fidelity National Information Services, Inc	1.100		07/15/24		432
$	1,950,000		IHS Markit Ltd	4.125		08/01/23		1,946
	3,350,000		IHS Markit Ltd	4.750		08/01/28		3,358
	26,300,000		Microsoft Corp	2.400		08/08/26		24,237
	3,750,000		Microsoft Corp	4.100		02/06/37		3,862
	5,850,000		Microsoft Corp	3.700		08/08/46		5,606
	1,475,000		NCR Corp	4.625		02/15/21		1,460
	525,000		NCR Corp	5.875		12/15/21		530
	12,600,000		Oracle Corp	2.500		05/15/22		12,262
	14,375,000		Oracle Corp	2.650		07/15/26		13,333
	4,900,000		Oracle Corp	3.800		11/15/37		4,662
	6,300,000		Oracle Corp	4.000		11/15/47		5,970
	2,050,000	g,h	Refinitiv US Holdings	6.250		05/15/26		2,049
	2,425,000		salesforce.com, Inc	3.700		04/11/28		2,403
	5,425,000		Total System Services, Inc	4.450		06/01/28		5,424
			TOTAL SOFTWARE & SERVICES					112,327
TECHNOLOGY HARDWARE & EQUIPMENT - 0.9%
	3,475,000		Amphenol Corp	3.125		09/15/21		3,426
	8,075,000		Apple, Inc	2.450		08/04/26		7,443
	31,025,000		Apple, Inc	3.200		05/11/27		29,977
EUR	750,000		Apple, Inc	1.375		05/24/29		881
$	4,525,000		Apple, Inc	4.650		02/23/46		4,881
	4,075,000		Broadcom Corp	3.875		01/15/27		3,843
	4,150,000		Broadcom Corp	3.500		01/15/28		3,769
	19,750,000		Cisco Systems, Inc	1.850		09/20/21		19,052
	2,600,000	g	CommScope, Inc	5.500		06/15/24		2,620
	2,075,000		Corning, Inc	4.375		11/15/57		1,814
	13,175,000	g	Dell International LLC	4.420		06/15/21		13,370
	10,550,000	g	Dell International LLC	6.020		06/15/26		11,235
	3,150,000		L3 Technologies, Inc	3.850		06/15/23		3,157
	2,900,000		Motorola Solutions, Inc	4.600		02/23/28		2,834
	5,050,000		Tyco Electronics Group S.A.	2.375		12/17/18		5,047
	6,669,000		Tyco Electronics Group S.A.	3.500		02/03/22		6,662
EUR	400,000		Tyco Electronics Group S.A.	1.100		03/01/23		475
$	2,175,000		Tyco Electronics Group S.A.	3.700		02/15/26		2,123
	250,000		Xerox Corp	3.625		03/15/23		238
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					122,847
TELECOMMUNICATION SERVICES - 1.3%
EUR	500,000	g	Altice Luxembourg S.A.	7.250		05/15/22		578
$	40,275,000		AT&T, Inc	3.400		05/15/25		38,327
EUR	500,000	g	AT&T, Inc	2.350		09/05/29		584
$	21,900,000	g	AT&T, Inc	4.300		02/15/30		21,046
	9,000,000		AT&T, Inc	4.500		05/15/35		8,398
	200,000		AT&T, Inc	4.300		12/15/42		173
	150,000		AT&T, Inc	4.800		06/15/44		138
	6,525,000	g	AT&T, Inc	5.150		11/15/46		6,229
	4,525,000		AT&T, Inc	4.500		03/09/48		3,942
	500,000	g	AT&T, Inc	5.300		08/15/58		476
	4,400,000	g	Bharti Airtel International Netherlands BV	5.125		03/11/23		4,344
	4,000,000		Deutsche Telekom International Finance BV	8.750		06/15/30		5,368

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	3,950,000		France Telecom S.A.	5.375	%	01/13/42	$	4,320
	6,000,000	g	MTN Mauritius Investment Ltd	6.500		10/13/26		5,862
	698,865	o	Oi S.A.	10.000		07/27/25		720
	3,925,000	g	Oztel Holdings SPC Ltd	5.625		10/24/23		3,969
	2,125,000		Telefonica Emisiones SAU	4.103		03/08/27		2,041
	2,325,000		T-Mobile USA, Inc	6.375		03/01/25		2,422
	3,150,000	g	Turkcell Iletisim Hizmetleri AS.	5.800		04/11/28		2,747
	4,350,000		Verizon Communications, Inc	3.376		02/15/25		4,231
EUR	400,000		Verizon Communications, Inc	1.375		10/27/26		461
$	9,392,000	g	Verizon Communications, Inc	4.329		09/21/28		9,446
EUR	400,000		Verizon Communications, Inc	1.875		10/26/29		461
$	30,520,000		Verizon Communications, Inc	4.272		01/15/36		29,052
EUR	300,000		Verizon Communications, Inc	2.875		01/15/38		349
$	10,550,000		Verizon Communications, Inc	3.850		11/01/42		9,111
	3,350,000		Verizon Communications, Inc	4.125		08/15/46		2,998
EUR	500,000	g	Virgin Media Finance plc	4.500		01/15/25		594
$	8,700,000		Vodafone Group plc	4.375		05/30/28		8,567
			TOTAL TELECOMMUNICATION SERVICES					176,954
TRANSPORTATION - 0.7%
	4,850,000	g	Adani Ports & Special Economic Zone Ltd	4.000		07/30/27		4,369
	72,000		Burlington Northern Santa Fe LLC	4.150		04/01/45		71
	200,000		Canadian Pacific Railway Co	4.800		08/01/45		212
	5,000,000		CSX Corp	3.250		06/01/27		4,736
	3,500,000		CSX Corp	3.800		03/01/28		3,448
	150,000		CSX Corp	4.100		03/15/44		141
	4,000,000		CSX Corp	3.800		11/01/46		3,611
	6,500,000		CSX Corp	4.300		03/01/48		6,352
	9,250,000		Delta Air Lines, Inc	3.625		03/15/22		9,134
	6,100,000		Delta Air Lines, Inc	3.800		04/19/23		5,975
	3,650,000	g	DP World Ltd	5.625		09/25/48		3,604
	100,000		FedEx Corp	3.875		08/01/42		89
	2,830,000		FedEx Corp	4.100		02/01/45		2,579
	7,425,000		FedEx Corp	4.050		02/15/48		6,646
	10,000,000		Kansas City Southern	2.350		05/15/20		9,807
	2,975,000		Kansas City Southern	4.700		05/01/48		2,955
	4,000,000		Norfolk Southern Corp	4.050		08/15/52		3,739
	8,925,000		Northrop Grumman Corp	3.250		01/15/28		8,392
	3,500,000		Northrop Grumman Corp	4.030		10/15/47		3,276
	4,475,000	g	Pelabuhan Indonesia III Persero PT	4.500		05/02/23		4,463
	9,200,000		Union Pacific Corp	4.500		09/10/48		9,348
			TOTAL TRANSPORTATION					92,947
UTILITIES - 2.7%
	1,650,000		AEP Transmission Co LLC	3.100		12/01/26		1,569
	1,650,000		AEP Transmission Co LLC	4.000		12/01/46		1,562
	1,600,000		AES Corp	4.500		03/15/23		1,604
	1,775,000		AES Corp	4.875		05/15/23		1,791
	8,475,000		AGL Capital Corp	3.875		11/15/25		8,241
	2,125,000		AGL Capital Corp	4.400		06/01/43		2,039
	3,475,000		Alabama Power Co	4.150		08/15/44		3,370
	400,000		American Electric Power Co, Inc	3.200		11/13/27		375
	2,750,000		American Water Capital Corp	3.000		12/01/26		2,572

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	2,375,000		American Water Capital Corp	4.000	%	12/01/46	$	2,219
	7,175,000		American Water Capital Corp	3.750		09/01/47		6,507
	5,500,000		Atmos Energy Corp	8.500		03/15/19		5,637
	1,175,000		Atmos Energy Corp	4.125		10/15/44		1,141
	6,500,000		Baltimore Gas & Electric Co	3.750		08/15/47		5,953
	5,925,000		Berkshire Hathaway Energy Co	3.250		04/15/28		5,606
	6,225,000		Black Hills Corp	4.250		11/30/23		6,311
	1,575,000		Black Hills Corp	3.150		01/15/27		1,447
	4,750,000		Carolina Power & Light Co	5.300		01/15/19		4,784
	3,670,000		CenterPoint Energy Resources Corp	4.500		01/15/21		3,735
	3,550,000		CenterPoint Energy Resources Corp	6.250		02/01/37		4,064
	2,850,000	g	Cerro del Aguila S.A.	4.125		08/16/27		2,636
	4,675,000		CMS Energy Corp	3.600		11/15/25		4,536
	200,000		CMS Energy Corp	3.450		08/15/27		192
	200,000		Commonwealth Edison Co	2.950		08/15/27		187
	250,000		Commonwealth Edison Co	3.700		08/15/28		249
	4,200,000		Commonwealth Edison Co	5.900		03/15/36		4,996
	2,750,000		Connecticut Light & Power Co	5.500		02/01/19		2,775
	4,575,000		Consolidated Edison, Inc	2.000		05/15/21		4,419
	3,775,000		Dominion Resources, Inc	2.000		08/15/21		3,607
	5,750,000		DTE Electric Co	3.750		08/15/47		5,328
	200,000		DTE Energy Co	3.800		03/15/27		195
	1,400,000		Duke Energy Carolinas LLC	4.300		06/15/20		1,432
	5,825,000		Duke Energy Corp	1.800		09/01/21		5,567
	8,675,000		Duke Energy Corp	2.650		09/01/26		7,839
	750,000		Duke Energy Corp	4.800		12/15/45		772
	6,389,824		Duke Energy Florida Project Finance LLC	1.196		03/01/20		6,292
	5,000,000		Duke Energy Florida Project Finance LLC	1.731		09/01/22		4,835
	1,450,000		Duke Energy Ohio, Inc	3.800		09/01/23		1,467
	200,000		Emera US Finance LP	3.550		06/15/26		188
	4,450,000		Enel Chile S.A.	4.875		06/12/28		4,490
EUR	600,000		Engie S.A.	2.375		05/19/26		760
$	5,700,000		Entergy Corp	2.950		09/01/26		5,234
	5,850,000	g	Eskom Holdings SOC Ltd	5.750		01/26/21		5,687
	6,250,000	g	Eskom Holdings SOC Ltd	6.350		08/10/28		6,223
	2,675,000	g	Eskom Holdings SOC Ltd	8.450		08/10/28		2,673
	9,450,000		Exelon Generation Co LLC	3.400		03/15/22		9,363
	300,000		FirstEnergy Corp	3.900		07/15/27		292
	8,150,000		Fortis, Inc	3.055		10/04/26		7,474
	350,000		Georgia Power Co	3.250		03/30/27		326
EUR	500,000		Iberdrola International BV	1.125		04/21/26		575
$	3,600,000		Indiana Michigan Power Co	3.750		07/01/47		3,276
	2,725,000		Integrys Energy Group, Inc	4.170		11/01/20		2,761
	1,300,000	g	Israel Electric Corp Ltd	5.000		11/12/24		1,319
	6,125,000	g	Israel Electric Corp Ltd	4.250		08/14/28		5,809
	1,000,000	g	Kansas Gas & Electric	6.700		06/15/19		1,026
	4,525,000	g	KazTransGas JSC	4.375		09/26/27		4,305
	3,675,000	g	Korea Hydro & Nuclear Power Co Ltd	3.750		07/25/23		3,648
	5,000,000		LG&E and KU Energy LLC	3.750		11/15/20		5,020
	6,150,000		MidAmerican Energy Co	3.650		08/01/48		5,645
	3,000,000	g	Minejesa Capital BV	4.625		08/10/30		2,748
	800,000	g	Minejesa Capital BV	5.625		08/10/37		728
	3,335,000		Nevada Power Co	5.450		05/15/41		3,786
	13,375,000		NextEra Energy Capital Holdings, Inc	3.550		05/01/27		12,861

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	7,100,000		NiSource Finance Corp	3.490	%	05/15/27	$	6,730
	200,000		NiSource Finance Corp	4.800		02/15/44		202
	2,000,000		NRG Energy, Inc	6.250		05/01/24		2,080
EUR	230,000		NTPC Ltd	2.750		02/01/27		265
$	6,150,000		Ohio Power Co	4.150		04/01/48		6,079
	7,100,000		Oncor Electric Delivery Co LLC	2.150		06/01/19		7,061
	1,280,000		Oncor Electric Delivery Co LLC	5.250		09/30/40		1,461
	750,000	g	Pacific Gas & Electric Co	4.650		08/01/28		754
	2,700,000		Pacific Gas & Electric Co	3.750		08/15/42		2,295
	5,850,000		Pacific Gas & Electric Co	4.250		03/15/46		5,352
	4,500,000	g	Perusahaan Gas Negara Persero Tbk PT	5.125		05/16/24		4,529
	4,600,000	g	Perusahaan Listrik Negara PT	4.125		05/15/27		4,307
	750,000		Potomac Electric Power Co	7.900		12/15/38		1,078
	6,925,000		PPL Capital Funding, Inc	4.200		06/15/22		7,019
	200,000		PPL Capital Funding, Inc	3.100		05/15/26		186
	2,000,000		PPL Electric Utilities Corp	3.000		09/15/21		1,986
	3,825,000		Progress Energy, Inc	7.050		03/15/19		3,898
	9,725,000		PSEG Power LLC	3.850		06/01/23		9,687
	8,800,000		Public Service Co of Oklahoma	5.150		12/01/19		9,004
	2,650,000	g	Rio Oil Finance Trust	8.200		04/06/28		2,710
	300,000		San Diego Gas & Electric Co	2.500		05/15/26		275
	1,650,000		SASOL Financing USA LLC	6.500		09/27/28		1,671
	5,550,000		Sempra Energy	2.875		10/01/22		5,380
	250,000		Sierra Pacific Power Co	2.600		05/01/26		232
	200,000		South Carolina Electric & Gas Co	4.350		02/01/42		191
	1,900,000		Southern California Edison Co	4.125		03/01/48		1,813
	2,000,000		Southern Co Gas Capital Corp	3.950		10/01/46		1,761
	8,250,000		Southern Power Co	2.500		12/15/21		7,985
	7,825,000		Southern Power Co	4.150		12/01/25		7,704
	7,375,000		Southwest Gas Corp	3.700		04/01/28		7,214
	3,680,000		Virginia Electric & Power Co	2.950		01/15/22		3,623
	3,550,000		Virginia Electric & Power Co	2.950		11/15/26		3,331
	3,250,000		Virginia Electric & Power Co	3.500		03/15/27		3,176
	4,125,000		Wisconsin Power & Light Co	4.100		10/15/44		3,931
	3,175,000		Xcel Energy, Inc	3.350		12/01/26		3,044
	2,890,000		Xcel Energy, Inc	4.800		09/15/41		2,997
			TOTAL UTILITIES					355,079
			TOTAL CORPORATE BONDS					4,194,766
			(Cost $4,303,491)
GOVERNMENT BONDS -  46.2%
AGENCY SECURITIES - 2.1%
	7,202,332		AMAL Ltd	3.465		08/21/21		7,245
	2,500,000		Amber Circle Funding Ltd	3.250		12/04/22		2,431
	4,000,000		Canal Barge Co, Inc	4.500		11/12/34		4,140
	42,307,665		CES MU2 LLC	1.994		05/13/27		39,931
	4,111,947		Export Lease Ten Co LLC	1.650		05/07/25		3,903
	250,000		Federal Home Loan Bank (FHLB)	1.125		07/14/21		238
	300,000		Federal National Mortgage Association (FNMA)	2.625		09/06/24		292
	12,313,579		Helios Leasing II LLC	2.668		03/18/25		12,089
	12,452,360		HNA LLC	2.291		06/30/27		11,891

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	12,890,000		Lutheran Medical Center	1.982	%	02/20/30	$	11,677
	8,335,000		Montefiore Medical Center	2.152		10/20/26		7,719
	3,490,120		MSN 41079 and 41084 Ltd	1.631		12/14/24		3,320
	7,565,528		Premier Aircraft Leasing	3.576		02/06/22		7,626
	5,000,000		Private Export Funding Corp (PEFCO)	4.375		03/15/19		5,040
	7,240,000		PEFCO	1.450		08/15/19		7,156
	27,750,000		PEFCO	2.250		03/15/20		27,518
	35,000,000		PEFCO	4.300		12/15/21		36,275
	25,747,000		PEFCO	2.050		11/15/22		24,731
	31,704,115		Tagua Leasing LLC	1.900		07/12/24		30,554
	1,716,494		Union 12 Leasing LLC	2.164		02/17/24		1,670
	12,330,000		UNM Sandoval Regional Medical Center	4.500		07/20/36		12,565
	7,552,921		Windermere Aviation LLC	2.351		05/27/26		7,290
	17,187,302		Zarapito Leasing LLC	2.628		11/12/26		16,723
			TOTAL AGENCY SECURITIES					282,024
FOREIGN GOVERNMENT BONDS - 5.5%
	4,000,000	g	Abu Dhabi Government International Bond	3.125		05/03/26		3,818
	15,000,000		African Development Bank	1.375		12/17/18		14,970
	3,325,000	g	Arab Petroleum Investments Corp	4.125		09/18/23		3,338
	1,175,000		Argentina Republic Government International Bond	5.625		01/26/22		1,060
	2,000,000		Argentina Republic Government International Bond	5.875		01/11/28		1,584
AUD	1,700,000		Australia Government International Bond	5.750		05/15/21		1,344
	1,700,000		Australia Government International Bond	2.250		05/21/28		1,184
$	2,250,000	g	Banque Centrale de Tunisie S.A.	5.750		01/30/25		1,980
	2,000,000	g	Bermuda Government International Bond	4.854		02/06/24		2,081
	3,450,000	g	Bermuda Government International Bond	3.717		01/25/27		3,281
	6,000,000	g	Brazil Minas SPE via State of Minas Gerais	5.333		02/15/28		5,745
BRL	4,500,000		Brazil Notas do Tesouro Nacional Serie F	10.000		01/01/21		1,126
$	3,300,000		Brazilian Government International Bond	5.625		02/21/47		2,919
EUR	1,000,000		Bundesrepublik Deutschland	1.250		08/15/48		1,211
$	5,000,000	g	Caisse d’Amortissement de la Dette Sociale	2.000		04/17/20		4,927
	1,850,000	g	Caisse d’Amortissement de la Dette Sociale	1.875		07/28/20		1,812
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale	1.875		02/12/22		3,837
EUR	400,000		Caisse d’Amortissement de la Dette Sociale	1.375		11/25/24		494
	1,300,000	g	Canada Housing Trust No	2.550		12/15/23		1,001
	1,460,000		Canadian Government International Bond	0.500		02/01/19		1,126
	1,960,000		Canadian Government International Bond	1.750		08/01/20		1,505
	1,000,000		Canadian Government International Bond	5.000		06/01/37		1,069
$	8,800,000		Chile Government International Bond	3.240		02/06/28		8,430
	100,000		Colombia Government International Bond	7.375		03/18/19		102
	6,125,000		Colombia Government International Bond	2.625		03/15/23		5,825
	4,000,000		Colombia Government International Bond	5.000		06/15/45		3,990
	3,500,000	g	Costa Rica Government International Bond	7.158		03/12/45		3,069
	20,200,000	g	CPPIB Capital, Inc	2.250		01/25/22		19,620
	16,400,000	g	CPPIB Capital, Inc	2.750		11/02/27		15,521
CZK	21,500,000		Czech Republic Government International Bond	1.500		10/29/19		969
DOP	48,650,000	g	Dominican Republic International Bond	8.900		02/15/23		967
$	2,000,000	g	Dominican Republic International Bond	6.500		02/15/48		1,960
	2,275,000	g	Egypt Government International Bond	5.577		02/21/23		2,206
	3,950,000	g	Egypt Government International Bond	8.500		01/31/47		3,954
	10,000,000		European Investment Bank	2.500		04/15/21		9,884
	250,000		European Investment Bank	3.250		01/29/24		251
	3,500,000		European Investment Bank	4.875		02/15/36		4,204

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	3,575,000	g	Export Credit Bank of Turkey	4.250	%	09/18/22	$	3,106
	300,000	g	Export Credit Bank of Turkey	5.375		10/24/23		266
	15,000,000		Export Development Canada	2.000		11/30/20		14,695
	2,000,000	g	Export-Import Bank of China	2.850		09/16/20		1,967
	5,800,000	g	Export-Import Bank of India	3.875		02/01/28		5,396
EUR	2,762,000		France Republic Government Bond OAT	1.750		11/25/24		3,504
	3,100,000		French Republic Government Bond OAT	0.750		11/25/28		3,580
	1,250,000		French Republic Government Bond OAT	1.250		05/25/34		1,463
	1,200,000	g	French Republic Government Bond OAT	2.000		05/25/48		1,503
$	1,000,000	g	Ghana Government International Bond	8.627		06/16/49		998
	3,600,000	g	Guatemala Government International Bond	4.500		05/03/26		3,429
	2,000,000	g	Guatemala Government International Bond	4.375		06/05/27		1,878
EUR	2,150,000	g	Hellenic Republic Government International Bond	4.375		08/01/22		2,604
	3,600,000	g	Hellenic Republic Government International Bond	3.375		02/15/25		4,075
$	2,595,000	g	Honduras Government International Bond	7.500		03/15/24		2,790
CAD	1,800,000		Hydro-Quebec	5.000		02/15/45		1,823
IDR	18,000,000,000		Indonesia Treasury Bond	8.250		07/15/21		1,222
	12,500,000,000		Indonesia Treasury Bond	7.500		05/15/38		754
AUD	500,000		Inter-American Development Bank	4.750		08/27/24		399
	900,000		Inter-American Development Bank	2.750		10/30/25		641
	1,300,000		International Bank for Reconstruction & Development	2.800		01/13/21		949
ILS	3,600,000	i	Israel Government International Bond	0.180		05/31/26		986
$	6,200,000		Israel Government International Bond	3.250		01/17/28		5,953
	4,375,000		Israel Government International Bond	4.125		01/17/48		4,169
ILS	3,100,000		Israel Government International Bond-Fixed	5.500		01/31/42		1,211
EUR	2,250,000		Italy Buoni Poliennali Del Tesoro	0.350		06/15/20		2,581
	1,250,000		Italy Buoni Poliennali Del Tesoro	0.050		04/15/21		1,395
	4,525,000		Italy Buoni Poliennali Del Tesoro	0.900		08/01/22		5,018
	4,525,000		Italy Buoni Poliennali Del Tesoro	1.250		12/01/26		4,651
	1,225,000	g	Italy Buoni Poliennali Del Tesoro	2.950		09/01/38		1,307
$	2,405,000	g	Ivory Coast Government International Bond (Step Bond)	5.750		12/31/32		2,268
EUR	1,000,000	g	Ivory Coast Government International Bond	6.625		03/22/48		1,083
$	3,050,000		Jamaica Government International Bond	8.000		03/15/39		3,504
	6,000,000		Japan Bank for International Cooperation	2.375		04/20/26		5,582
	2,000,000	g	Japan Finance Organization for Municipalities	2.000		09/08/20		1,952
	2,700,000	g	Japan Finance Organization for Municipalities	2.125		02/12/21		2,625
	4,000,000	g	Japan Finance Organization for Municipalities	2.125		04/13/21		3,877
	6,650,000	g	Japan Finance Organization for Municipalities	3.375		09/27/23		6,625
JPY	113,000,000		Japan Finance Organization for Municipalities	0.450		03/14/25		1,018
	103,000,000		Japan Finance Organization for Municipalities	0.484		06/13/25		930
	140,000,000		Japan Finance Organization for Municipalities	0.020		03/13/26		1,223
	76,000,000		Japan Government Five Year Bond	0.100		06/20/23		674
	440,000,000		Japan Government Ten Year Bond	0.100		09/20/26		3,887
	369,000,000		Japan Government Ten Year Bond	0.100		12/20/26		3,258
	350,000,000		Japan Government Thirty Year Bond	2.400		11/20/31		3,910
	350,000,000		Japan Government Thirty Year Bond	2.300		05/20/32		3,888
	300,000,000		Japan Government Thirty Year Bond	2.500		09/20/34		3,470
	450,000,000		Japan Government Thirty Year Bond	0.500		09/20/46		3,616
	114,000,000		Japan Government Thirty Year Bond	0.700		06/20/48		955
	530,000,000		Japan Government Twenty Year Bond	1.900		03/22/21		4,895
	93,000,000		Japan Government Twenty Year Bond	0.600		12/20/36		823

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
JPY	445,000,000		Japan Government Two Year Bond		0.100	%	02/15/19	$	3,920
	280,000,000		Japan Government Two Year Bond		0.100		04/15/19		2,467
$	475,000	g	Jordan Government International Bond		7.375		10/10/47		446
	1,900,000	g	Kenya Government International Bond		7.250		02/28/28		1,847
	45,000,000		KFW		2.750		10/01/20		44,837
	18,750,000		KFW		2.625		01/25/22		18,505
EUR	1,025,000	g	Kingdom of Belgium Government International Bond		1.600		06/22/47		1,158
$	7,700,000	g	Kommunalbanken AS.		1.625		01/15/20		7,574
	1,925,000	g	Kommunalbanken AS.		1.375		10/26/20		1,863
	3,750,000	g	Kommunalbanken AS.		1.625		02/10/21		3,632
EUR	500,000		Kommunalbanken AS.		0.625		04/20/26		578
$	5,000,000	g	Kommuninvest I Sverige AB		2.000		11/12/19		4,952
	4,000,000	i	Korea Development Bank	LIBOR 3 M + 0.550%	2.884		03/12/21		4,000
	2,675,000	g	Korea Housing Finance Corp		2.000		10/11/21		2,550
	5,775,000	g	Korea Housing Finance Corp		3.000		10/31/22		5,594
KRW	3,920,000,000		Korea Treasury Bond		2.000		03/10/21		3,533
	4,630,000,000		Korea Treasury Bond		1.375		09/10/21		4,092
	1,800,000,000		Korea Treasury Bond		1.500		12/10/26		1,522
$	5,750,000	g	Kuwait International Government Bond		2.750		03/20/22		5,615
	1,750,000		Lebanon Government International Bond		6.750		11/29/27		1,359
	5,250,000	g	Lithuania Government International Bond		6.625		02/01/22		5,782
MXN	14,500,000		Mexican Bonos		8.000		12/07/23		782
	23,500,000		Mexican Bonos		5.750		03/05/26		1,108
$	4,797,000		Mexico Government International Bond		4.000		10/02/23		4,829
	5,100,000		Mexico Government International Bond		4.150		03/28/27		5,018
	6,650,000		Mexico Government International Bond		4.750		03/08/44		6,354
	525,000	g	Mongolia Government International Bond		5.625		05/01/23		509
	5,750,000	g	Morocco Government International Bond		5.500		12/11/42		6,015
	2,900,000	g	Municipality Finance plc		1.125		09/16/19		2,852
	3,075,000	g	Namibia Government International Bond		5.250		10/29/25		2,897
EUR	2,150,000	g	Netherlands Government International Bond		0.750		07/15/28		2,536
AUD	500,000		New South Wales Treasury Corp		4.000		05/20/26		390
NZD	700,000		New Zealand Government International Bond		4.500		04/15/27		537
$	3,050,000	g	Nigeria Government International Bond		6.500		11/28/27		2,933
	1,550,000	g	Nigeria Government International Bond		7.143		02/23/30		1,511
NOK	26,000,000	g	Norway Government International Bond		2.000		04/26/28		3,213
$	4,000,000		Panama Government International Bond		6.700		01/26/36		4,996
	3,000,000		Panama Government International Bond		4.500		05/15/47		3,005
	3,150,000	g	Paraguay Government International Bond		5.600		03/13/48		3,134
	4,000,000	g	Perusahaan Penerbit SBSN Indonesia III		3.400		03/29/22		3,935
	11,775,000	g	Perusahaan Penerbit SBSN Indonesia III		4.400		03/01/28		11,525
PEN	4,860,000	g	Peruvian Government International Bond		8.200		08/12/26		1,737
$	3,000,000		Peruvian Government International Bond		8.750		11/21/33		4,433
	1,450,000		Peruvian Government International Bond		5.625		11/18/50		1,721
	625,000	g	Petroamazonas EP		4.625		11/06/20		603
	1,700,000		Philippine Government International Bond		3.700		03/01/41		1,577
	3,000,000		Philippine Government International Bond		3.700		02/02/42		2,781
	6,150,000		Poland Government International Bond		5.000		03/23/22		6,467
PLN	6,600,000		Poland Government International Bond		4.000		10/25/23		1,911
$	15,000,000		Province of British Columbia Canada		2.000		10/23/22		14,328
CAD	2,350,000		Province of British Columbia Canada		2.550		06/18/27		1,760

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	20,750,000		Province of Manitoba Canada	1.750	%	05/30/19	$	20,601
	10,000,000		Province of Manitoba Canada	3.050		05/14/24		9,828
	25,000,000		Province of Manitoba Canada	2.125		06/22/26		22,690
	22,500,000		Province of Quebec Canada	3.500		07/29/20		22,696
CAD	1,650,000		Province of Quebec Canada	2.750		09/01/27		1,254
$	6,000,000		Province of Quebec Canada	7.500		09/15/29		8,161
	2,000,000	g	Provincia de Mendoza Argentina	8.375		05/19/24		1,750
AUD	1,680,000	g	Queensland Treasury Corp	3.500		08/21/30		1,230
EUR	850,000	g	Republic of Austria Government International Bond	0.750		02/20/28		993
PLN	1,350,000		Republic of Poland Government International Bond	2.500		01/25/23		367
	2,750,000		Republic of Poland Government International Bond	2.750		04/25/28		716
$	2,475,000		Republic of South Africa Government International Bond	4.850		09/27/27		2,327
	100,000		Republic of the Philippines	6.500		01/20/20		104
	5,040,000	g	Romanian Government International Bond	5.125		06/15/48		4,941
RUB	88,750,000		Russian Federal Bond - Federal Loan Obligation	7.000		01/25/23		1,307
$	3,250,000	g	Russian Foreign Bond - Eurobond	4.875		09/16/23		3,349
	1,500,000	g	Saudi Government International Bond	2.375		10/26/21		1,448
	4,000,000	g	Saudi Government International Bond	3.250		10/26/26		3,758
	14,775,000	g	Saudi Government International Bond	4.500		04/17/30		14,833
EUR	1,000,000	g	Senegal Government International Bond	4.750		03/13/28		1,122
$	2,000,000	g	Senegal Government International Bond	6.250		05/23/33		1,862
	4,000,000	g	Senegal Government International Bond	6.750		03/13/48		3,570
SGD	2,020,000		Singapore Government International Bond	2.000		07/01/20		1,480
	4,250,000		Singapore Government International Bond	1.750		04/01/22		3,070
$	4,000,000		South Africa Government International Bond	5.875		09/16/25		4,065
ZAR	12,200,000		South Africa Government International Bond	10.500		12/21/26		935
	15,100,000		South Africa Government International Bond	8.750		01/31/44		951
EUR	2,220,000		Spain Government International Bond	0.400		04/30/22		2,595
	1,100,000		Spain Government International Bond	0.350		07/30/23		1,266
	2,550,000	g	Spain Government International Bond	2.750		10/31/24		3,301
	1,070,000	g	Spain Government International Bond	1.400		07/30/28		1,229
	1,600,000	g	Spain Government International Bond	2.700		10/31/48		1,901
$	3,000,000	g	Sri Lanka Government International Bond	5.750		01/18/22		2,947
	1,250,000	g	Sri Lanka Government International Bond	5.750		04/18/23		1,217
	1,500,000	g	Sri Lanka Government International Bond	6.850		11/03/25		1,481
	4,000,000		Svensk Exportkredit AB	1.750		03/10/21		3,880
SEK	4,400,000		Sweden Government International Bond	2.250		06/01/32		572
THB	26,500,000		Thailand Government International Bond	1.875		06/17/22		809
	33,000,000		Thailand Government International Bond	2.000		12/17/22		1,009
	47,900,000		Thailand Government International Bond	3.400		06/17/36		1,508
AUD	500,000		Treasury Corp of Victoria	6.000		06/15/20		385
	2,175,000		Treasury Corp of Victoria	3.000		10/20/28		1,567
$	7,000,000		Turkey Government International Bond	3.250		03/23/23		6,082
	2,600,000		Turkey Government International Bond	6.000		03/25/27		2,365
	5,650,000		Turkey Government International Bond	5.125		02/17/28		4,800
	2,950,000		Turkey Government International Bond	6.875		03/17/36		2,681
	6,300,000	g	Ukraine Government International Bond	7.375		09/25/32		5,466
GBP	2,375,000		United Kingdom Gilt	1.750		07/22/19		3,119
	2,365,000		United Kingdom Gilt	2.750		09/07/24		3,348
	2,450,000		United Kingdom Gilt	4.750		12/07/30		4,284
	1,000,000		United Kingdom Gilt	4.250		03/07/36		1,771
	900,000		United Kingdom Gilt	1.500		07/22/47		1,065

349

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
GBP	975,000		United Kingdom Gilt		1.750	%	07/22/57	$	1,243
UYU	20,760,000	g	Uruguay Government International Bond		9.875		06/20/22		619
$	2,352,945		Uruguay Government International Bond		4.375		10/27/27		2,394
UYU	21,800,000	g	Uruguay Government International Bond		8.500		03/15/28		571
$	6,750,000		Uruguay Government International Bond		5.100		06/18/50		6,885
			TOTAL FOREIGN GOVERNMENT BONDS						729,731
MORTGAGE BACKED - 16.9%
	33,055,052		Federal Home Loan Mortgage Corp (FHLMC)		3.500		08/15/43		33,106
	9,060,531		FHLMC		3.000		03/15/44		8,771
	25,095,747		FHLMC		3.500		09/15/44		24,877
	25,026,113	i	FHLMC	LIBOR 1 M + 9.920%	6.467		06/15/48		25,979
	21,000,000	i	FHLMC	LIBOR 1 M + 9.840%	6.403		10/15/48		20,999
	21,447		Federal Home Loan Mortgage Corp Gold (FGLMC)		7.000		10/01/20		22
	7,576		FGLMC		7.000		05/01/23		8
	11,592,363		FGLMC		3.500		03/01/27		11,662
	23,287		FGLMC		8.000		01/01/31		25
	5,332		FGLMC		7.000		01/01/32		5
	605,710		FGLMC		4.500		07/01/33		630
	1,302,402		FGLMC		5.500		12/01/33		1,412
	746,270		FGLMC		5.500		12/01/33		813
	4,166,690		FGLMC		7.000		12/01/33		4,706
	1,312,022		FGLMC		4.500		10/01/34		1,361
	776,041		FGLMC		4.500		04/01/35		805
	1,304,134		FGLMC		7.000		05/01/35		1,462
	3,154,132		FGLMC		5.000		06/01/36		3,348
	1,307,365		FGLMC		5.000		07/01/39		1,388
	158,787		FGLMC		4.500		12/01/43		166
	101,030		FGLMC		4.500		02/01/44		106
	4,044,735		FGLMC		4.500		10/01/44		4,227
	1,583,017		FGLMC		4.500		11/01/44		1,654
	2,296,925		FGLMC		4.500		11/01/44		2,400
	869,174		FGLMC		4.500		12/01/44		902
	1,423,287		FGLMC		4.500		12/01/44		1,487
	7,689,291		FGLMC		3.500		04/01/45		7,603
	1,074,711		FGLMC		4.500		05/01/45		1,084
	62,444,786		FGLMC		3.500		10/01/45		61,727
	37,732,615		FGLMC		4.000		12/01/45		38,364
	94,101,594		FGLMC		3.500		08/01/46		93,149
	50,240,341		FGLMC		3.000		01/01/47		48,103
	101,059,720		FGLMC		3.000		02/01/47		96,791
	2,906,200		FGLMC		4.500		06/01/47		3,059
	6,075,449		FGLMC		4.000		09/01/47		6,222
	31,877,697		FGLMC		3.500		03/01/48		31,469
	40,822,686		FGLMC		4.000		03/01/48		41,481
	10,566,356	h	FGLMC		4.000		07/01/48		10,734
	31,527,888		FGLMC		4.500		08/01/48		32,892
	55,398		Federal National Mortgage Association (FNMA)		8.000		07/01/24		61
	12,347		FNMA		9.000		11/01/25		13
	20,621,602		FNMA		3.500		02/01/32		20,751
	6,749,817		FNMA		3.500		05/01/32		6,809
	17,512,495		FNMA		3.500		07/01/32		17,623
	749,350		FNMA		6.500		07/01/32		831
	66,379		FNMA		7.000		07/01/32		68

350

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

					MATURITY	VALUE
PRINCIPAL		ISSUER	RATE		DATE	(000)
$	139,359	FNMA	7.000	%	07/01/32	$	144
	10,329,349	FNMA	3.000		11/01/32		10,214
	4,839,100	FNMA	3.500		06/01/33		4,867
	640,389	FNMA	4.500		10/01/33		664
	5,308,881	FNMA	5.500		03/01/34		5,738
	4,528,481	FNMA	5.500		02/01/35		4,894
	1,136,837	FNMA	4.500		05/01/35		1,180
	7,270,428	FNMA	5.000		05/01/35		7,719
	3,243,560	FNMA	5.000		10/01/35		3,445
	2,739,154	FNMA	5.000		02/01/36		2,909
	30,649	FNMA	6.500		03/01/37		34
	1,685,419	FNMA	5.500		08/01/37		1,820
	963,175	FNMA	6.000		09/01/37		1,066
	657,644	FNMA	6.000		09/01/37		715
	480,295	FNMA	6.500		09/01/37		532
	1,045,687	FNMA	5.500		01/01/38		1,129
	64,667	FNMA	6.500		02/01/38		71
	2,566,639	FNMA	5.500		04/01/38		2,761
	5,027,302	FNMA	5.500		11/01/38		5,381
	3,951,046	FNMA	5.500		12/01/38		4,302
	130,382	FNMA	4.500		04/01/39		136
	2,463,521	FNMA	5.500		08/01/39		2,671
	150,178	FNMA	4.500		02/01/40		155
	1,143,105	FNMA	5.000		08/01/40		1,216
	6,199,337	FNMA	5.000		09/01/40		6,596
	403,859	FNMA	6.000		10/01/40		445
	577,435	FNMA	4.500		11/01/40		599
	1,040,505	FNMA	4.500		01/01/41		1,083
	673,063	FNMA	4.500		02/01/41		696
	9,003,553	FNMA	5.000		05/01/41		9,581
	992,211	FNMA	4.500		06/01/41		1,028
	999,250	FNMA	4.500		06/01/41		1,038
	476,294	FNMA	5.000		06/01/41		504
	2,947,193	FNMA	5.000		07/01/41		3,136
	869,499	FNMA	5.000		08/01/41		925
	1,059,307	FNMA	4.500		12/01/41		1,097
	17,892,335	FNMA	5.500		12/01/41		19,751
	1,070,853	FNMA	4.500		01/01/42		1,114
	1,036,143	FNMA	4.500		03/01/42		1,073
	942,829	FNMA	4.500		04/01/42		981
	6,114,413	FNMA	4.500		04/01/42		6,363
	1,027,074	FNMA	4.500		06/01/42		1,063
	4,986,085	FNMA	4.500		06/01/42		5,183
	864,273	FNMA	4.500		07/01/42		898
	7,520,121	FNMA	4.500		06/01/44		7,812
	7,321,967	FNMA	4.500		10/01/44		7,606
	13,340,874	FNMA	4.500		11/01/44		13,857
	3,896,613	FNMA	4.500		12/01/44		4,048
	40,286,483	FNMA	3.000		02/25/45		39,565
	8,609,901	FNMA	3.000		02/25/45		8,435
	742,552	FNMA	3.500		03/01/45		734
	521,446	FNMA	3.500		03/01/45		516
	1,717,983	FNMA	4.500		03/01/45		1,784

351

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	11,762,215		FNMA	3.000	%	03/25/45	$	11,500
	673,354		FNMA	4.500		04/01/45		706
	31,019,688		FNMA	3.500		04/25/45		30,945
	35,630,040		FNMA	3.500		04/25/45		35,495
	16,050,806		FNMA	3.500		05/01/45		15,902
	71,636,505		FNMA	3.000		12/25/45		69,249
	22,557,891		FNMA	3.500		01/01/46		22,296
	39,689,819		FNMA	4.000		01/01/46		40,370
	19,995,873		FNMA	3.500		06/01/46		19,751
	4,713,851		FNMA	3.500		08/01/46		4,659
	7,793,178		FNMA	3.000		10/01/46		7,465
	22,451,958		FNMA	3.500		10/01/46		22,168
	46,861,242		FNMA	3.500		12/01/46		46,247
	131,464,498		FNMA	3.500		01/01/47		129,720
	12,862,908		FNMA	3.000		02/01/47		12,321
	178,542		FNMA	3.500		08/01/47		176
	7,426,219		FNMA	3.500		11/01/47		7,312
	1,783,723		FNMA	3.500		12/01/47		1,756
	16,841,632		FNMA	4.500		01/01/48		17,549
	15,509,861		FNMA	4.500		02/01/48		16,163
	135,720,346		FNMA	3.000		02/25/48		131,259
	16,776,133		FNMA	4.000		03/01/48		17,046
	66,639,510		FNMA	4.500		03/01/48		69,469
	167,732,596		FNMA	4.000		04/01/48		169,454
	12,138,691		FNMA	4.500		05/01/48		12,658
	9,407,184	h	FNMA	4.500		05/01/48		9,810
	24,292,482		FNMA	5.000		08/01/48		25,889
	5,000,000	h	FNMA	3.000		11/25/48		5,002
	8,000,000	h	FNMA	3.500		11/25/48		7,869
	4,583		Government National Mortgage Association (GNMA)	8.000		06/15/24		5
	18,936		GNMA	8.500		11/20/30		21
	32,538		GNMA	8.500		12/20/30		37
	14,151,653		GNMA	3.700		10/15/33		14,138
	238,682		GNMA	6.000		10/20/36		261
	276,359		GNMA	6.000		01/20/37		303
	849,910		GNMA	6.000		02/20/37		928
	606,359		GNMA	5.000		04/15/38		644
	278,875		GNMA	6.000		08/20/38		304
	523,869		GNMA	6.500		11/20/38		585
	63,974		GNMA	4.500		02/20/39		68
	233,179		GNMA	2.176		05/16/39		232
	2,037,058		GNMA	5.000		06/15/39		2,171
	1,285,368		GNMA	5.000		06/15/39		1,370
	11,368,814		GNMA	3.700		08/15/40		11,356
	90,393		GNMA	4.500		08/20/41		95
	311,984		GNMA	4.500		09/20/41		329
	70,562		GNMA	4.500		01/20/44		74
	70,838		GNMA	4.500		02/20/44		75
	136,219		GNMA	4.500		05/20/44		144
	883,540		GNMA	4.500		05/20/44		933
	999,167		GNMA	4.500		08/20/44		1,055
	872,430		GNMA	4.500		09/20/44		910
	378,998		GNMA	4.500		10/20/44		399
	233,154		GNMA	4.500		11/20/44		243

352

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	618,072		GNMA	4.500	%	12/20/44	$	652
	956,038		GNMA	4.500		02/20/45		1,009
	1,173,560		GNMA	4.500		08/20/45		1,240
	1,104,139		GNMA	4.500		08/20/45		1,160
	1,085,131		GNMA	4.500		12/20/45		1,143
	43,988,802		GNMA	3.000		12/20/47		42,635
	102,423,029		GNMA	3.500		12/20/47		101,923
	65,744,312		GNMA	3.000		01/20/48		63,719
	97,754,038		GNMA	3.500		01/20/48		97,276
	32,635,240		GNMA	4.000		07/20/48		33,213
	3,000,000	h	GNMA	3.500		11/20/48		2,980
			TOTAL MORTGAGE BACKED					2,226,265
MUNICIPAL BONDS - 3.9%
	28,410,000		California State University	3.899		11/01/47		26,799
	2,975,000		Chicago Housing Authority	3.682		01/01/25		2,965
	845,000		City & County of San Francisco CA	3.750		09/01/37		802
	2,000,000		City & County of San Francisco CA	4.000		09/01/48		1,912
	10,000,000		City of Dallas TX Waterworks & Sewer System Revenue	0.985		10/01/18		10,000
	8,725,000		City of Dallas TX Waterworks & Sewer System Revenue	1.217		10/01/19		8,594
	5,000,000		City of Dallas TX Waterworks & Sewer System Revenue	1.868		10/01/22		4,752
	2,775,000		City of Dallas TX Waterworks & Sewer System Revenue	2.068		10/01/23		2,623
	1,350,000		City of Dallas TX Waterworks & Sewer System Revenue	2.389		10/01/25		1,264
	3,995,000		City of Los Angeles CA Wastewater System Revenue	4.029		06/01/39		3,970
	2,025,000		City of San Antonio TX Customer Facility Charge Revenue	4.253		07/01/24		2,007
	1,575,000		City of San Antonio TX Customer Facility Charge Revenue	4.353		07/01/25		1,561
	20,000,000		City of San Francisco CA Public Utilities Commission Water Revenue	4.035		11/01/41		19,658
	5,815,000		Commonwealth Financing Authority	3.864		06/01/38		5,602
	9,950,000		Commonwealth of Massachusetts	3.277		06/01/46		8,786
	1,875,000		County of Miami-Dade FL Aviation Revenue	1.885		10/01/21		1,797
	1,505,000		County of Miami-Dade FL Aviation Revenue	2.218		10/01/22		1,438
	1,500,000		County of Miami-Dade FL Aviation Revenue	2.368		10/01/23		1,428
	2,500,000		County of Miami-Dade FL Aviation Revenue	3.285		10/01/23		2,476
	3,500,000		County of Miami-Dade FL Aviation Revenue	2.504		10/01/24		3,294
	2,250,000		County of Miami-Dade FL Aviation Revenue	3.405		10/01/24		2,225
	3,500,000		County of Miami-Dade FL Aviation Revenue	2.604		10/01/25		3,279
	2,375,000		County of Miami-Dade FL Aviation Revenue	3.505		10/01/25		2,344
	2,500,000		County of Miami-Dade FL Aviation Revenue	2.704		10/01/26		2,323
	3,750,000		County of Miami-Dade FL Aviation Revenue	3.612		10/01/26		3,698
	3,730,000		County of Miami-Dade FL Aviation Revenue	3.732		10/01/37		3,468
	3,900,000		County of Miami-Dade FL Aviation Revenue	3.982		10/01/41		3,687
	25,000,000		Florida Hurricane Catastrophe Fund Finance Corp	2.995		07/01/20		24,985
	5,080,000		Illinois Finance Authority	3.944		08/15/47		4,823
	1,895,000		Imperial Irrigation District Electric System Revenue	1.095		11/01/18		1,892

353

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

					MATURITY	VALUE
PRINCIPAL		ISSUER	RATE		DATE	(000)
$	5,265,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy	1.125	%	09/01/19	$	5,189
	2,350,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy	1.500		09/01/21		2,240
	1,000,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy	2.000		09/01/22		953
	4,805,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy	3.375		09/01/35		4,378
	2,560,000	Michigan Finance Authority	1.941		11/01/21		2,441
	3,000,000	Michigan Finance Authority	2.244		11/01/22		2,849
	500,000	New Jersey Economic Development Authority	3.300		06/15/19		501
	570,000	New Jersey Economic Development Authority	3.500		06/15/20		572
	500,000	New Jersey Economic Development Authority	3.700		06/15/21		504
	1,110,000	New Jersey Economic Development Authority	3.800		07/01/22		1,108
	5,680,000	New York State Dormitory Authority	3.998		07/01/39		5,507
	6,000,000	New York State Dormitory Authority	3.879		07/01/46		5,610
	855,000	Oklahoma City Economic Development Trust	3.172		09/01/21		853
	1,120,000	Oklahoma City Economic Development Trust	3.222		09/01/22		1,116
	810,000	Oklahoma City Economic Development Trust	3.440		09/01/24		811
	3,500,000	Palm Beach County Solid Waste Authority	2.083		10/01/21		3,402
	4,720,000	Permanent University Fund	1.880		07/01/19		4,692
	2,320,000	Permanent University Fund	2.258		07/01/20		2,293
	2,160,000	Permanent University Fund	2.408		07/01/21		2,122
	2,750,000	Permanent University Fund	2.508		07/01/22		2,688
	2,855,000	Permanent University Fund	2.608		07/01/23		2,779
	3,250,000	Permanent University Fund	2.708		07/01/24		3,151
	2,335,000	Permanent University Fund	2.808		07/01/25		2,247
	3,775,000	Permanent University Fund	2.908		07/01/26		3,606
	4,000,000	Permanent University Fund	3.008		07/01/27		3,799
	2,000,000	Port of Corpus Christi Authority of Nueces County	3.138		12/01/22		1,990
	1,700,000	Port of Corpus Christi Authority of Nueces County	3.287		12/01/23		1,698
	1,500,000	Port of Corpus Christi Authority of Nueces County	3.387		12/01/24		1,494
	1,000,000	Port of Corpus Christi Authority of Nueces County	3.487		12/01/25		994
	7,500,000	Port of Morrow OR	1.582		09/01/20		7,289
	2,075,000	Port of Morrow OR	1.782		09/01/21		1,990
	1,955,000	Public Finance Authority	4.269		07/01/40		1,916
	1,000,000	Regents of the University of California Medical Center Pooled Revenue	2.037		05/15/23		942
	1,000,000	Regents of the University of California Medical Center Pooled Revenue	2.259		05/15/24		933
	1,250,000	Regents of the University of California Medical Center Pooled Revenue	2.359		05/15/25		1,154
	1,785,000	Regents of the University of California Medical Center Pooled Revenue	2.459		05/15/26		1,631
	1,600,000	Regents of the University of California Medical Center Pooled Revenue	2.559		05/15/27		1,451
	700,000	Regents of the University of California Medical Center Pooled Revenue	2.659		05/15/28		630
	900,000	Regents of the University of California Medical Center Pooled Revenue	2.759		05/15/29		807
	11,360,000	San Jose Redevelopment Agency	3.375		08/01/34		10,522
	13,060,000	State of California	4.600		04/01/38		13,548
	3,060,000	State of Georgia	2.000		07/01/20		3,022
	3,215,000	State of Georgia	2.150		07/01/21		3,143

354

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	3,465,000		State of Georgia	1.910	%	02/01/23	$	3,283
	3,905,000		State of Georgia	2.750		07/01/25		3,731
	4,100,000		State of Georgia	2.850		07/01/26		3,904
	4,305,000		State of Georgia	2.950		07/01/27		4,120
	4,520,000		State of Georgia	3.050		07/01/28		4,298
	3,245,000		State of Georgia	3.150		07/01/29		3,099
	7,500,000		State of Illinois	2.000		06/15/19		7,438
	7,160,000		State of Illinois	5.463		02/01/20		7,309
	12,500,000		State of Illinois	1.930		06/15/20		12,188
	12,500,000		State of Illinois	2.250		06/15/21		12,064
	12,500,000		State of Illinois	3.150		06/15/26		11,713
	12,500,000		State of Illinois	3.250		06/15/27		11,646
	25,185,000		State of Illinois	5.100		06/01/33		24,171
	20,000,000		State of Michigan	1.579		11/01/20		19,424
	13,000,000		State of Michigan	1.779		11/01/21		12,504
	7,000,000		State of Michigan	1.966		11/01/22		6,676
	9,900,000		State of Wisconsin	3.154		05/01/27		9,496
	8,000,000		The Ohio State University	3.798		12/01/46		7,514
	6,000,000		University of California	2.570		05/15/22		5,874
	10,230,000		University of California	4.601		05/15/31		10,847
	17,045,000		University of California	3.931		05/15/45		16,479
	20,000,000		University of New Mexico	3.532		06/20/32		19,417
	500,000		Utah Municipal Power Agency	1.630		07/01/19		495
	835,000		Utah Municipal Power Agency	1.823		07/01/20		813
	500,000		Utah Municipal Power Agency	2.023		07/01/21		481
	1,750,000		Utah Municipal Power Agency	2.262		07/01/22		1,672
	1,500,000		Utah Municipal Power Agency	2.512		07/01/23		1,427
	2,160,000		Virginia Port Authority	4.228		07/01/36		2,109
	390,000		Washington Convention & Sports Authority	3.969		10/01/30		389
			TOTAL MUNICIPAL BONDS					509,598
U.S. TREASURY SECURITIES - 17.8%
	65,602,000		United States Treasury Bond	4.500		02/15/36		77,841
	4,500,000		United States Treasury Bond	4.750		02/15/37		5,527
	38,000,000		United States Treasury Bond	3.500		02/15/39		40,028
	11,900,000		United States Treasury Bond	3.875		08/15/40		13,211
	19,135,000		United States Treasury Bond	4.375		05/15/41		22,806
	16,434,000		United States Treasury Bond	3.750		08/15/41		17,933
	56,375,000		United States Treasury Bond	3.625		08/15/43		60,464
	35,680,000		United States Treasury Bond	3.000		05/15/45		34,414
	81,710,000		United States Treasury Bond	2.875		08/15/45		76,903
	102,850,000		United States Treasury Bond	2.500		05/15/46		89,648
	1,075,000		United States Treasury Bond	3.000		05/15/47		1,035
	58,160,000		United States Treasury Bond	2.750		11/15/47		53,210
	6,655,000		United States Treasury Bond	3.000		02/15/48		6,402
	89,790,000		United States Treasury Bond	3.125		05/15/48		88,552
	151,625,000		United States Treasury Bond	3.000		08/15/48		145,838
	20,841,660	k	United States Treasury Inflation Indexed Bonds	0.500		01/15/28		20,008
	73,675,000		United States Treasury Note	0.750		10/31/18		73,597
	1,365,000		United States Treasury Note	1.750		10/31/18		1,365
	58,000,000		United States Treasury Note	1.250		11/15/18		57,939
	55,325,000		United States Treasury Note	1.000		11/30/18		55,220
	9,115,000		United States Treasury Note	1.250		12/31/18		9,093

355

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

					MATURITY	VALUE
PRINCIPAL		ISSUER	RATE		DATE	(000)
$	10,950,000	United States Treasury Note	1.125	%	01/31/19	$	10,907
	17,775,000	United States Treasury Note	1.000		03/15/19		17,664
	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		5,363
	43,115,000	United States Treasury Note	1.250		05/31/19		42,763
	30,000,000	United States Treasury Note	1.250		06/30/19		29,715
	61,725,000	United States Treasury Note	1.375		07/31/19		61,115
	48,700,000	United States Treasury Note	1.250		08/31/19		48,095
	1,680,000	United States Treasury Note	1.500		10/31/19		1,659
	5,000,000	United States Treasury Note	2.000		01/31/20		4,953
	2,250,000	United States Treasury Note	1.375		02/15/20		2,209
	25,000,000	United States Treasury Note	2.250		02/29/20		24,828
	4,790,000	United States Treasury Note	1.625		03/15/20		4,714
	5,340,000	United States Treasury Note	2.250		03/31/20		5,300
	51,445,000	United States Treasury Note	2.375		04/30/20		51,125
	3,000,000	United States Treasury Note	1.500		05/15/20		2,939
	76,920,000	United States Treasury Note	2.500		05/31/20		76,556
	21,800,000	United States Treasury Note	1.625		07/31/20		21,340
	51,565,000	United States Treasury Note	2.125		08/31/20		50,898
	12,310,000	United States Treasury Note	2.625		08/31/20		12,266
	40,110,000	United States Treasury Note	1.375		09/15/20		39,016
	2,500,000	United States Treasury Note	2.750		09/30/20		2,497
	3,000,000	United States Treasury Note	1.750		12/31/20		2,929
	825,000	United States Treasury Note	2.125		01/31/21		811
	12,589,300	United States Treasury Note	1.125		02/28/21		12,083
	12,720,000	United States Treasury Note	2.000		02/28/21		12,466
	18,635,000	United States Treasury Note	1.375		04/30/21		17,949
	3,240,000	United States Treasury Note	2.250		04/30/21		3,191
	63,695,000	United States Treasury Note	2.625		05/15/21		63,302
	1,040,000	United States Treasury Note	1.375		05/31/21		1,000
	16,465,000	United States Treasury Note	2.000		05/31/21		16,100
	67,305,000	United States Treasury Note	2.625		06/15/21		66,869
	1,730,000	United States Treasury Note	2.125		06/30/21		1,696
	11,825,000	United States Treasury Note	2.000		08/31/21		11,537
	34,375,000	United States Treasury Note	2.750		09/15/21		34,246
	1,710,000	United States Treasury Note	1.750		03/31/22		1,644
	1,000,000	United States Treasury Note	1.875		03/31/22		966
	5,725,000	United States Treasury Note	1.750		04/30/22		5,500
	7,000,000	United States Treasury Note	2.000		07/31/22		6,767
	30,000,000	United States Treasury Note	2.000		11/30/22		28,908
	500,000	United States Treasury Note	1.750		01/31/23		476
	27,530,000	United States Treasury Note	2.625		02/28/23		27,180
	162,859,000	United States Treasury Note	2.750		04/30/23		161,536
	184,742,000	United States Treasury Note	2.750		05/31/23		183,241
	510,000	United States Treasury Note	1.375		06/30/23		475
	500,000	United States Treasury Note	1.250		07/31/23		462
	2,700,000	United States Treasury Note	2.750		08/31/23		2,677
	22,000,000	United States Treasury Note	2.875		09/30/23		21,926
	3,300,000	United States Treasury Note	2.125		02/29/24		3,161
	2,500,000	United States Treasury Note	2.625		03/31/25		2,444
	28,860,000	United States Treasury Note	2.875		05/31/25		28,627
	28,665,000	United States Treasury Note	2.750		06/30/25		28,213
	30,720,000	United States Treasury Note	2.750		08/31/25		30,217
	41,150,000	United States Treasury Note	2.750		02/15/28		40,133

356

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	58,430,000		United States Treasury Note	2.875	%	08/15/28	$	57,544
			TOTAL U.S. TREASURY SECURITIES					2,344,417
			TOTAL GOVERNMENT BONDS					6,092,035
			(Cost $6,233,512)
STRUCTURED ASSETS - 19.6%
ASSET BACKED - 9.2%
	11,450,000		Ally Auto Receivables Trust	2.100		03/15/22		11,251
			Series - 2017 2 (Class A4)
	7,500,000		American Express Credit Account Master Trust	2.350		05/15/25		7,245
			Series - 2017 7 (Class A)
	1,550,000		AmeriCredit Automobile Receivables Trust	2.400		01/08/21		1,547
			Series - 2015 2 (Class C)
	2,079,015		AmeriCredit Automobile Receivables Trust	1.460		05/10/21		2,070
			Series - 2016 3 (Class A3)
	12,805,000		AmeriCredit Automobile Receivables Trust	3.340		08/08/21		12,843
			Series - 2015 3 (Class D)
	5,500,000		AmeriCredit Automobile Receivables Trust	1.870		08/18/21		5,469
			Series - 2017 1 (Class A3)
	5,000,000		AmeriCredit Automobile Receivables Trust	1.900		03/18/22		4,938
			Series - 2017 3 (Class A3)
	5,500,000		AmeriCredit Automobile Receivables Trust	2.740		12/08/22		5,403
			Series - 2016 4 (Class D)
	3,500,000	g	Anchorage Capital CLO Ltd	3.300		10/15/27		3,470
			Series - 2015 7A (Class B2R)
	74,236	†,g,m	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		5,067
			Series - 2013 AVM (Class E)
	2,300,000	g,i	Aventura Mall Trust	3.867		12/05/32		2,331
			Series - 2013 AVM (Class B)
	12,000,000	g	Avis Budget Rental Car Funding AESOP LLC	3.070		09/20/23		11,696
			Series - 2017 1A (Class A)
	32,000,000	g	Avis Budget Rental Car Funding AESOP LLC	2.970		03/20/24		31,017
			Series - 2017 2A (Class A)
	3,850,000	g	BBCMS Trust	3.821		09/05/32		3,840
			Series - 2013 TYSN (Class C)
	2,500,000	g	Bowman Park CLO Ltd	3.545		11/23/25		2,500
			Series - 2014 1A (Class B2R)
	5,250,000		Capital Auto Receivables Asset Trust	1.690		03/20/21		5,199
			Series - 2016 3 (Class A4)
	8,000,000	g	Capital Automotive REIT	3.660		10/15/44		7,878
			Series - 2014 1A (Class A)
	6,900,833	g	Capital Automotive REIT	3.870		04/15/47		6,818
			Series - 2017 1A (Class A1)
	14,000,000		Capital One Multi-Asset Execution Trust	2.430		01/15/25		13,635
			Series - 2017 A3 (Class A3)
	25,500,000		Capital One Multi-Asset Execution Trust	2.290		07/15/25		24,587
			Series - 2017 A6 (Class A6)
	3,875,000		CarMax Auto Owner Trust	2.150		03/15/21		3,852
			Series - 2015 2 (Class B)

357

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	2,640,000		CarMax Auto Owner Trust		2.390	%	03/15/21	$	2,629
			Series - 2015 2 (Class C)
	5,500,000		CarMax Auto Owner Trust		1.970		04/15/22		5,425
			Series - 2017 3 (Class A3)
	4,850,000		CarMax Auto Owner Trust		2.250		09/15/22		4,747
			Series - 2017 2 (Class A4)
	4,100,000		CarMax Auto Owner Trust		2.330		05/15/23		3,999
			Series - 2017 4 (Class A4)
	2,052,152	i	C-BASS Trust	LIBOR 1 M + 0.080%	2.296		07/25/36		2,020
			Series - 2006 CB6 (Class A1)
	428,194	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		405
			Series - 2004 2 (Class 1M2)
	446,991		CIT Group Home Equity Loan Trust (Step Bond)		6.200		02/25/30		455
			Series - 2002 1 (Class AF6)
	8,750,000		CNH Equipment Trust		2.930		12/15/21		8,749
			Series - 2018 B (Class A2)
	9,500,000		CNH Equipment Trust		2.170		04/17/23		9,225
			Series - 2017 B (Class A4)
	39,990,000		CNH Equipment Trust		2.360		11/15/24		38,888
			Series - 2017 C (Class A4)
	2,000,000		CNH Equipment Trust		3.300		04/15/25		1,999
			Series - 2018 A (Class A4)
	3,865,455	g	DaimlerChrysler Capital Auto Receivables Trust		1.640		07/15/21		3,845
			Series - 2016 BA (Class A3)
	19,782,500	g	DB Master Finance LLC		3.980		02/20/45		19,785
			Series - 2015 1A (Class A2II)
	20,976,488	g	DB Master Finance LLC		3.629		11/20/47		20,439
			Series - 2017 1A (Class A2I)
	5,000,000		Discover Card Execution Note Trust		2.390		07/15/24		4,871
			Series - 2017 A2 (Class A2)
	2,443,750	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		2,462
			Series - 2015 1A (Class A2II)
	64,350,000	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		62,152
			Series - 2017 1A (Class A2II)
	13,615,875	g	Domino’s Pizza Master Issuer LLC		4.116		07/25/48		13,530
			Series - 2018 1A (Class A2I)
	5,000,000		Ford Credit Auto Lease Trust		1.880		04/15/20		4,986
			Series - 2017 A (Class A3)
	18,000,000	g	Ford Credit Auto Owner Trust		2.150		07/15/26		17,790
			Series - 2015 1 (Class A)
	17,400,000	g	Ford Credit Auto Owner Trust		2.440		01/15/27		17,187
			Series - 2015 2 (Class A)
	3,500,000	g	Ford Credit Auto Owner Trust		2.310		08/15/27		3,426
			Series - 2016 1 (Class A)
	16,500,000	g	Ford Credit Auto Owner Trust		2.030		12/15/27		15,961
			Series - 2016 2 (Class A)
	12,000,000	g	Ford Credit Auto Owner Trust		2.620		08/15/28		11,689
			Series - 2017 1 (Class A)
	27,050,000	g	Ford Credit Auto Owner Trust		2.360		03/15/29		25,938
			Series - 2017 2 (Class A)
	20,500,000	g	Ford Credit Auto Owner Trust		3.190		07/15/31		19,988
			Series - 0 1 (Class A)

358

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	3,500,000		Ford Credit Floorplan Master Owner Trust		2.070	%	05/15/22	$	3,443
			Series - 2017 1 (Class A1)
	5,000,000		Ford Credit Floorplan Master Owner Trust		2.390		08/15/22		4,928
			Series - 2015 5 (Class A)
	7,000,000		Ford Credit Floorplan Master Owner Trust		2.480		09/15/24		6,761
			Series - 2017 3 (Class A)
	2,250,000	g,i	FREMF Mortgage Trust		4.156		03/25/49		2,214
			Series - 2016 K53 (Class B)
	7,500,000		GM Financial Automobile Leasing Trust		2.890		09/21/20		7,499
			Series - 2018 3 (Class A2A)
	6,000,000	g	GM Financial Consumer Automobile Receivables Trust		2.130		03/16/23		5,836
			Series - 2017 3A (Class A4)
	7,000,000	g	GMF Floorplan Owner Revolving Trust		2.130		07/15/20		6,869
			Series - 2017 2 (Class A1)
	3,500,000	g	GMF Floorplan Owner Revolving Trust		1.960		05/17/21		3,482
			Series - 2016 1 (Class A1)
	2,950,000	g	GMF Floorplan Owner Revolving Trust		2.220		01/18/22		2,919
			Series - 2017 1 (Class A1)
	822,083	g	HERO Funding Trust		3.280		09/20/48		805
			Series - 2017 2A (Class A1)
	1,644,167	g	HERO Funding Trust		4.070		09/20/48		1,654
			Series - 2017 2A (Class A2)
	15,500,000	g	Hertz Vehicle Financing II LP		3.290		02/25/24		15,076
			Series - 2018 1A (Class A)
	5,000,000	g	Hertz Vehicle Financing LLC		2.320		03/25/20		4,986
			Series - 2016 1A (Class A)
	11,875,000	g	Hertz Vehicle Financing LLC		2.270		07/25/20		11,796
			Series - 2016 3A (Class A)
	10,000,000	g	Hertz Vehicle Financing LLC		4.030		07/25/24		9,991
			Series - 2018 3A (Class A)
	7,700,040	g	Hilton Grand Vacations Trust		2.660		12/26/28		7,554
			Series - 2017 AA (Class A)
	4,491,690	g,i	Hilton Grand Vacations Trust		2.960		12/26/28		4,377
			Series - 2017 AA (Class B)
	3,030,000	g,i	Hilton Grand Vacations Trust		4.000		02/25/32		3,025
			Series - 2018 AA (Class C)
	7,100,000	g	Houston Galleria Mall Trust		3.087		03/05/37		6,811
			Series - 2015 HGLR (Class A1A2)
	1,750,000	g	Hyundai Auto Lease Securitization Trust		2.120		02/16/21		1,736
			Series - 2017 C (Class A3)
	3,750,000	g	Hyundai Auto Lease Securitization Trust		2.210		09/15/21		3,707
			Series - 2017 C (Class A4)
	891,994	i	Irwin Home Equity Corp	LIBOR 1 M + 0.760%	2.976		02/25/34		883
			Series - 2005 A (Class A3)
	8,550,237	g	JG Wentworth XXII LLC		3.820		12/15/48		8,577
			Series - 2010 3A (Class A)
	11,500,000		John Deere Owner Trust		2.110		07/15/24		11,243
			Series - 2017 B (Class A4)
	11,500,000	g,h,i	Madison Park Funding Ltd	LIBOR 3 M + 1.750%	4.148		10/18/30		11,500
			Series - 2018 29A (Class B)
	3,368,157	g	MVW Owner Trust		2.520		12/20/32		3,297
			Series - 2015 1A (Class A)

359

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	9,232,066	g	MVW Owner Trust		2.420	%	12/20/34	$	8,931
			Series - 2017 1A (Class A)
	4,842,650	g	MVW Owner Trust		3.450		01/21/36		4,826
			Series - 2018 1A (Class A)
	2,500,000	g,i	Natixis Commercial Mortgage Securities Trust		3.917		11/15/32		2,472
			Series - 2018 285M (Class C)
	20,299,304	g,i	New Residential Mortgage Loan Trust		4.000		02/25/57		20,359
			Series - 2017 1A (Class A1)
	2,428,614	g	Orange Lake Timeshare Trust		3.100		11/08/30		2,393
			Series - 2018 A (Class A)
	2,000,000	g	Palisades Center Trust		3.357		04/13/33		1,965
			Series - 2016 PLSD (Class B)
	14,500,000	g	Planet Fitness Master Issuer LLC		4.262		09/05/48		14,470
			Series - 2018 1A (Class A2I)
	5,000,000	g	Planet Fitness Master Issuer LLC		4.666		09/05/48		4,949
			Series - 2018 1A (Class A2II)
	2,325,000	g	Pretium Mortgage Credit Partners I LLC (Step Bond)		5.000		03/27/33		2,306
			Series - 2018 NPL2 (Class A2)
	3,501,967	g	Pretium Mortgage Credit Partners I LLC (Step Bond)		4.125		08/27/33		3,498
			Series - 2018 NPL3 (Class A1)
	3,250,000	g	Prudential plc		4.660		07/15/31		3,200
			Series - 2018 1A (Class B1)
	3,500,000		PSNH Funding LLC		3.506		08/01/28		3,485
			Series - 2018 1 (Class A2)
	2,000,000	g	RBS Commercial Funding, Inc Trust		3.511		03/11/31		1,938
			Series - 2013 SMV (Class B)
	17,822	i	Renaissance Home Equity Loan Trust	LIBOR 1 M + 0.880%	3.096		08/25/33		17
			Series - 2003 2 (Class A)
	4,102,950		Santander Drive Auto Receivables Trust		1.770		09/15/20		4,100
			Series - 2017 1 (Class A3)
	2,416,620		Santander Drive Auto Receivables Trust		1.870		12/15/20		2,414
			Series - 2017 2 (Class A3)
	5,000,000		Santander Drive Auto Receivables Trust		1.870		06/15/21		4,985
			Series - 2017 3 (Class A3)
	352,471		Santander Drive Auto Receivables Trust		2.740		12/15/21		352
			Series - 2015 5 (Class C)
	6,000,000		Santander Drive Auto Receivables Trust		2.800		08/15/22		5,933
			Series - 2016 3 (Class D)
	8,000,000		Santander Drive Auto Receivables Trust		3.170		04/17/23		7,950
			Series - 2017 1 (Class D)
	12,500,000	g	Santander Retail Auto Lease Trust		2.370		01/20/22		12,335
			Series - 2017 A (Class A4)
	2,639,199	g,i	Sierra Receivables Funding Co LLC		2.050		06/20/31		2,633
			Series - 2014 2A (Class A)
	765,175	g	Sierra Receivables Funding Co LLC		2.400		06/20/31		764
			Series - 2014 2A (Class B)
	2,385,727	g	Sierra Receivables Funding Co LLC		2.400		03/22/32		2,369
			Series - 2015 1A (Class A)
	15,412,174	g	Sierra Receivables Funding Co LLC		2.910		03/20/34		15,215
			Series - 2017 1A (Class A)
	500,343	g	Sierra Receivables Funding Co LLC		3.200		03/20/34		489
			Series - 2017 1A (Class B)
	3,010,258	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		2,965
			Series - 2015 3A (Class A)

360

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	3,631,033	g	Sierra Timeshare Receivables Funding LLC	3.080	%	09/20/32	$	3,594
			Series - 2015 3A (Class B)
	1,972,170	g	Sierra Timeshare Receivables Funding LLC	3.080		03/21/33		1,959
			Series - 2016 1A (Class A)
	6,347,193	g	Sierra Timeshare Receivables Funding LLC	2.330		07/20/33		6,224
			Series - 2016 2A (Class A)
	1,010,700	g	Sierra Timeshare Receivables Funding LLC	2.780		07/20/33		994
			Series - 2016 2A (Class B)
	4,503,929	g	Sierra Timeshare Receivables Funding LLC	2.430		10/20/33		4,412
			Series - 2016 3A (Class A)
	2,668,995	g	Sierra Timeshare Receivables Funding LLC	2.630		10/20/33		2,585
			Series - 2016 3A (Class B)
	7,509,348	g	Sierra Timeshare Receivables Funding LLC	3.500		06/20/35		7,483
			Series - 2018 2A (Class A)
	4,675,601	g	SLM Student Loan Trust	3.740		02/15/29		4,693
			Series - 2011 B (Class A2)
	5,235,037	g	SMB Private Education Loan Trust	2.490		06/15/27		5,177
			Series - 2015 A (Class A2A)
	8,023,336	g	SMB Private Education Loan Trust	2.750		07/15/27		7,947
			Series - 2015 C (Class A2A)
	11,866,243	g	SMB Private Education Loan Trust	2.430		02/17/32		11,466
			Series - 2016 B (Class A2A)
	16,020,000	g	SMB Private Education Loan Trust	2.880		09/15/34		15,653
			Series - 2017 A (Class A2A)
	15,250,000	g	SMB Private Education Loan Trust	2.820		10/15/35		14,755
			Series - 2017 B (Class A2A)
	10,000,000	g	SMB Private Education Loan Trust	3.500		02/15/36		9,934
			Series - 2018 A (Class A2A)
	9,750,000	g	Sofi Professional Loan Program LLC	3.120		02/25/48		9,749
			Series - 2018 D (Class A1FX)
	831,514	g	SoFi Professional Loan Program LLC	1.530		04/25/33		830
			Series - 2016 D (Class A2A)
	16,220,000	g	SoFi Professional Loan Program LLC	2.340		04/25/33		15,728
			Series - 2016 D (Class A2B)
	15,150,000	g	SoFi Professional Loan Program LLC	2.490		01/25/36		14,889
			Series - 2016 E (Class A2B)
	2,793,042	g	SoFi Professional Loan Program LLC	2.760		12/26/36		2,748
			Series - 2016 A (Class A2)
	953,446	g	SoFi Professional Loan Program LLC	1.550		03/26/40		946
			Series - 2017 A (Class A2A)
	4,925,000	g	SoFi Professional Loan Program LLC	2.400		03/26/40		4,765
			Series - 2017 A (Class A2B)
	8,175,610	g	SoFi Professional Loan Program LLC	1.830		05/25/40		8,125
			Series - 2017 B (Class A1FX)
	13,050,000	g	SoFi Professional Loan Program LLC	2.740		05/25/40		12,813
			Series - 2017 B (Class A2FX)
	4,000,000	g	SoFi Professional Loan Program LLC	2.630		07/25/40		3,874
			Series - 2017 C (Class A2B)
	10,556,000	g	SoFi Professional Loan Program LLC	2.720		11/26/40		10,194
			Series - 2017 E (Class A2B)
	13,500,000	g	SoFi Professional Loan Program LLC	2.840		01/25/41		13,089
			Series - 2017 F (Class A2FX)

361

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	21,000,000	g	SoFi Professional Loan Program LLC		2.950	%	02/25/42	$	20,432
			Series - 2018 A (Class A2B)
	3,482,982	g	SolarCity LMC		4.590		04/20/44		3,487
			Series - 2014 1 (Class A)
	31,066,051	g	SpringCastle America Funding LLC		3.050		04/25/29		30,929
			Series - 2016 AA (Class A)
	3,000,000	g	SpringCastle America Funding LLC		4.100		10/25/33		2,952
			Series - 2016 AA (Class B)
	14,000,000		Synchrony Credit Card Master Note Trust		2.620		10/15/25		13,571
			Series - 2017 2 (Class A)
	13,051,250	g	Taco Bell Funding LLC		3.832		05/25/46		13,051
			Series - 2016 1A (Class A2I)
	10,279,956	g	TLF National Tax Lien Trust		3.090		12/15/29		10,253
			Series - 2017 1A (Class A)
	12,548,000		UBS Commercial Mortgage Trust		3.256		06/15/50		12,243
			Series - 2017 C1 (Class ASB)
	2,000,000		UBS Commercial Mortgage Trust		3.366		10/15/50		1,971
			Series - 2017 C4 (Class ASB)
	23,465,000	g	Verizon Owner Trust		2.060		09/20/21		23,252
			Series - 2017 1A (Class A)
	21,500,000	g	Verizon Owner Trust		1.920		12/20/21		21,220
			Series - 2017 2A (Class A)
	6,951,606	g	VOLT LXII LLC (Step Bond)		3.125		09/25/47		6,869
			Series - 2017 NPL9 (Class A1)
	1,344,460	g	VOLT LXV LLC (Step Bond)		3.750		04/25/48		1,340
			Series - 2018 NPL1 (Class A1)
	1,890,000	g	Vornado DP LLC		5.280		09/13/28		1,966
			Series - 2010 VNO (Class C)
	4,250,000	g,h,i	Voya CLO Ltd	LIBOR 3 M + 1.650%	4.110		10/15/31		4,244
			Series - 2018 3A (Class B)
	381,074	g	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		373
			Series - 2006 N1 (Class N1)
	213,063	g,i	Wachovia Loan Trust	LIBOR 1 M + 0.360%	2.576		05/25/35		213
			Series - 2005 SD1 (Class A)
	38,707,500	g	Wendys Funding LLC		3.573		03/15/48		37,244
			Series - 2018 1A (Class A2I)
	4,962,500	g	Wendys Funding LLC		3.884		03/15/48		4,763
			Series - 2018 1A (Class A2II)
	3,000,000		World Financial Network Credit Card Master Trust		2.030		04/15/25		2,892
			Series - 2016 A (Class A)
	3,000,000		World Omni Auto Receivables Trust		2.240		06/15/23		2,941
			Series - 2017 A (Class A4)
	9,000,000		World Omni Auto Receivables Trust		2.250		10/16/23		8,745
			Series - 2017 B (Class A4)
	5,932,000		World Omni Automobile Lease Securitization Trust		1.610		01/15/22		5,902
			Series - 2016 A (Class A4)
	2,500,000	g,i	Worldwide Plaza Trust		3.715		11/10/36		2,260
			Series - 2017 WWP (Class E)
	5,500,000	g,i	Worldwide Plaza Trust		3.715		11/10/36		5,309
			Series - 2017 WWP (Class B)
			TOTAL ASSET BACKED						1,216,576

362

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
OTHER MORTGAGE BACKED - 10.4%
$	25,000,000	g,i	20 TSQ GROUNDCO LLC	3.203	%	05/15/35	$	23,565
			Series - 2018 20TS (Class E)
	198,799	g,i	Banc of America Commercial Mortgage Trust	5.928		02/10/51		202
			Series - 2007 4 (Class E)
	2,000,000	g,i	Banc of America Commercial Mortgage Trust	6.038		02/10/51		749
			Series - 2007 5 (Class B)
	3,589,971	i	Banc of America Commercial Mortgage Trust	6.235		02/10/51		3,676
			Series - 2007 5 (Class AJ)
	15,000,000		BANK	3.419		05/15/50		14,799
			Series - 2017 BNK4 (Class ASB)
	5,500,000		BANK	3.314		11/15/50		5,369
			Series - 2017 BNK8 (Class ASB)
	3,000,000		BANK	4.481		09/15/60		3,089
			Series - 2018 BN14 (Class AS)
	15,000,000		BBCMS Mortgage Trust	3.488		02/15/50		14,866
			Series - 2017 C1 (Class ASB)
	1,500,000	g,i	BBCMS Trust	4.409		08/05/38		1,295
			Series - 2018 CHRS (Class E)
	5,000,000	g	BWAY Mortgage Trust	2.917		01/10/35		4,803
			Series - 2015 1740 (Class A)
	2,500,000	g	BWAY Mortgage Trust	3.342		01/10/35		2,395
			Series - 2015 1740 (Class C)
	7,698,000		CCUBS Commercial Mortgage Trust	3.462		11/15/50		7,584
			Series - 2017 C1 (Class ASB)
	5,167,000		CD Mortgage Trust	2.622		08/10/49		4,927
			Series - 2016 CD1 (Class ASB)
	12,500,000		CD Mortgage Trust	2.926		08/10/49		11,607
			Series - 2016 CD1 (Class AM)
	5,000,000		CD Mortgage Trust	3.220		08/15/50		4,872
			Series - 2017 CD5 (Class AAB)
	971,251		CFCRE Commercial Mortgage Trust	3.121		05/10/58		938
			Series - 2016 C4 (Class AHR)
	8,000,000	g	CGBAM Commercial Mortgage Trust	3.516		04/10/28		7,985
			Series - 2015 SMRT (Class C)
	9,000,000	g	CGBAM Commercial Mortgage Trust	3.768		04/10/28		8,973
			Series - 2015 SMRT (Class D)
	5,300,000		CGMS Commercial Mortgage Trust	3.243		08/15/50		5,148
			Series - 2017 B1 (Class AAB)
	3,514,102	i	CHL Mortgage Pass-Through Trust	3.609		02/20/35		3,548
			Series - 2004 HYB9 (Class 1A1)
	1,990,000		Citigroup Commercial Mortgage Trust	4.023		03/10/47		2,035
			Series - 2014 2014-GC19 (Class A4)
	2,754,202		Citigroup Commercial Mortgage Trust	1.506		05/10/49		2,704
			Series - 2016 C1 (Class A1)
	6,500,000		Citigroup Commercial Mortgage Trust	3.003		05/10/49		6,326
			Series - 2016 C1 (Class AAB)
	5,000,000		Citigroup Commercial Mortgage Trust	3.268		09/15/50		4,880
			Series - 2017 P8 (Class AAB)
	6,765,000		Citigroup Commercial Mortgage Trust	3.764		10/12/50		6,620
			Series - 2017 C4 (Class AS)
	6,977,914	i	COBALT CMBS Commercial Mortgage Trust	6.015		05/15/46		7,101
			Series - 2007 C3 (Class AJ)
	5,000,000	g	COMM Mortgage Trust	3.244		10/10/29		4,862
			Series - 2017 PANW (Class A)

363

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	6,545,000	g	COMM Mortgage Trust		4.353	%	08/10/30	$	6,782
			Series - 2013 300P (Class A1)
	4,000,000	g	COMM Mortgage Trust		3.397		03/10/46		3,910
			Series - 2013 CR6 (Class B)
	4,325,000	g,i	COMM Mortgage Trust		4.972		08/10/46		4,481
			Series - 2013 CR10 (Class B)
	5,000,000		COMM Mortgage Trust		3.691		03/10/47		5,022
			Series - 2014 UBS2 (Class A4)
	1,100,000		COMM Mortgage Trust		4.199		03/10/47		1,112
			Series - 2014 UBS2 (Class AM)
	4,220,000		COMM Mortgage Trust		3.828		07/15/47		4,274
			Series - 2014 CR18 (Class A5)
	1,843,000	i	COMM Mortgage Trust		4.889		07/15/47		1,838
			Series - 2014 CR18 (Class C)
	14,048,817		COMM Mortgage Trust		3.917		10/10/47		14,271
			Series - 2014 LC17 (Class A5)
	1,185,000	i	COMM Mortgage Trust		4.490		10/10/47		1,198
			Series - 2014 LC17 (Class B)
	316,913		COMM Mortgage Trust		1.399		02/10/48		314
			Series - 2015 LC19 (Class A1)
	16,702,470		COMM Mortgage Trust		3.183		02/10/48		16,315
			Series - 2015 LC19 (Class A4)
	8,150,000		COMM Mortgage Trust		3.801		05/10/48		8,122
			Series - 2015 CR23 (Class AM)
	2,000,000	i	COMM Mortgage Trust		4.183		05/10/48		2,015
			Series - 2015 CR23 (Class B)
	14,500,000		COMM Mortgage Trust		3.421		07/10/48		14,476
			Series - 2015 LC21 (Class ASB)
	3,559,000		COMM Mortgage Trust		3.696		08/10/48		3,570
			Series - 2015 CR24 (Class A5)
	3,685,000	i	COMM Mortgage Trust		4.526		08/10/48		3,748
			Series - 2015 CR24 (Class B)
	1,755,872		COMM Mortgage Trust		1.667		07/10/50		1,748
			Series - 2015 PC1 (Class A1)
	1,000,000		COMM Mortgage Trust		3.961		05/10/51		1,009
			Series - 2018 COR3 (Class A2)
	9,671,000		COMM Mortgage Trust		4.228		05/10/51		9,941
			Series - 2018 COR3 (Class A3)
	7,977,740	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%	5.216		07/25/24		8,553
			Series - 2014 C03 (Class 1M2)
	1,815,916	i	Connecticut Avenue Securities	LIBOR 1 M + 2.150%	4.366		09/25/28		1,823
			Series - 2016 C02 (Class 1M1)
	3,501,911	i	Connecticut Avenue Securities	LIBOR 1 M + 1.350%	3.566		01/25/29		3,512
			Series - 2016 C05 (Class 2M1)
	20,468,318	i	Connecticut Avenue Securities	LIBOR 1 M + 1.450%	3.666		01/25/29		20,609
			Series - 2016 C04 (Class 1M1)
	12,022,718	i	Connecticut Avenue Securities	LIBOR 1 M + 1.300%	3.516		04/25/29		12,125
			Series - 2016 C06 (Class 1M1)
	8,891,038	i	Connecticut Avenue Securities	LIBOR 1 M + 1.300%	2.165		07/25/29		8,952
			Series - 2017 C01 (Class 1M1)
	18,167,825	i	Connecticut Avenue Securities	LIBOR 1 M + 0.950%	3.166		10/25/29		18,280
			Series - 2017 C03 (Class 1M1)

364

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	9,922,742	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%	3.066	%	11/25/29	$	9,957
			Series - 2017 C04 (Class 2M1)
	70,806	i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%	2.966		02/25/30		71
			Series - 2017 C06 (Class 1M1)
	60,389,537	i	Connecticut Avenue Securities	LIBOR 1 M + 0.600%	2.816		07/25/30		60,471
			Series - 2018 C01 (Class 1M1)
	15,170,319	i	Connecticut Avenue Securities	LIBOR 1 M + 0.680%	2.896		10/25/30		15,197
			Series - 2018 C03 (Class 1M1)
	4,345,507	i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%	2.966		12/25/30		4,352
			Series - 2018 C04 (Class 2M1)
	9,070,828	i	Connecticut Avenue Securities	LIBOR 1 M + 0.720%	2.936		01/25/31		9,087
			Series - 2018 C05 (Class 1M1)
	6,144,500	g,i	Credit Suisse Commercial Mortgage Trust		5.751		01/15/49		6,330
			Series - 2007 C2 (Class B)
	4,689,000	g,i	Credit Suisse Commercial Mortgage Trust		5.897		01/15/49		6,027
			Series - 2007 C2 (Class C)
	11,500,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		11,718
			Series - 2006 OMA (Class D)
	4,000,000		CSAIL Commercial Mortgage Trust		3.314		11/15/49		3,963
			Series - 2016 C7 (Class ASB)
	14,580,000		CSAIL Commercial Mortgage Trust		3.186		06/15/50		14,197
			Series - 2017 C8 (Class ASB)
	2,934,778		CSAIL Commercial Mortgage Trust		1.454		06/15/57		2,923
			Series - 2015 C2 (Class A1)
	7,400,000	g,i	CSMC Trust		3.854		11/10/32		7,280
			Series - 2017 CALI (Class B)
	11,000,000		DBJPM Mortgage Trust		2.756		08/10/49		10,578
			Series - 2016 C3 (Class ASB)
	10,000,000		DBJPM Mortgage Trust		3.121		06/10/50		9,703
			Series - 2017 C6 (Class ASB)
	11,000,000	g	DBUBS Mortgage Trust		3.452		10/10/34		10,866
			Series - 2017 BRBK (Class A)
	15,500,000	g,i	DBUBS Mortgage Trust		3.648		10/10/34		15,199
			Series - 2017 BRBK (Class B)
	5,011,090	g	DBUBS Mortgage Trust		4.452		05/10/44		5,083
			Series - 2011 LC3A (Class PM1)
	23,998,177	g	DBUBS Mortgage Trust		4.537		07/10/44		24,624
			Series - 2011 LC2A (Class A4)
	3,000,000	g,i	DBUBS Mortgage Trust		4.998		07/10/44		3,100
			Series - 2011 LC2A (Class B)
	5,000,000	g,i	DBUBS Mortgage Trust		5.718		07/10/44		5,219
			Series - 2011 LC2A (Class C)
	9,800,000	g,i	DBUBS Mortgage Trust		5.516		08/10/44		10,193
			Series - 2011 LC3A (Class AM)
	2,084,000	g,i	DBUBS Mortgage Trust		5.516		08/10/44		2,152
			Series - 2011 LC3A (Class B)
	5,525,000	g,i	DBUBS Mortgage Trust		5.884		11/10/46		5,782
			Series - 2011 LC1A (Class C)
	8,099,144	g,i	Flagstar Mortgage Trust		3.500		03/25/47		7,954
			Series - 2017 1 (Class 1A5)
	19,028,485	g,i	Flagstar Mortgage Trust		4.000		05/25/48		18,931
			Series - 2018 3INV (Class A3)
	4,285,000	g,i	Flagstar Mortgage Trust		4.000		09/25/48		4,225
			Series - 2018 5 (Class A11)

365

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	4,792,436	g	Four Times Square Trust Commercial Mortgage Pass-Through Certificates		5.401	%	12/13/28	$	4,981
			Series - 2006 4TS (Class A)
	3,665,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,659
			Series - 2004 C3 (Class C)
	10,000,000	g	GRACE Mortgage Trust		3.369		06/10/28		10,004
			Series - 2014 GRCE (Class A)
	6,000,000	g	GRACE Mortgage Trust		3.520		06/10/28		5,994
			Series - 2014 GRCE (Class B)
	2,764,990	i	Greenwich Capital Commercial Funding Corp		5.928		07/10/38		2,764
			Series - 2006 GG7 (Class AM)
	15,943,000	g	GS Mortgage Securities Corp II		3.551		04/10/34		15,996
			Series - 2012 ALOH (Class A)
	4,430,000	g	GS Mortgage Securities Corp II		2.954		11/05/34		4,315
			Series - 2012 BWTR (Class A)
	5,910,000	g,i	GS Mortgage Securities Corp II		5.354		12/10/43		6,083
			Series - 2010 C2 (Class B)
	7,500,000		GS Mortgage Securities Corp II		3.382		05/10/50		7,378
			Series - 2015 GC30 (Class A4)
	10,000,000		GS Mortgage Securities Trust		3.396		02/10/48		9,863
			Series - 2015 GC28 (Class A5)
	8,455,000		GS Mortgage Securities Trust		3.506		10/10/48		8,363
			Series - 2015 GC34 (Class A4)
	10,000,000		GS Mortgage Securities Trust		2.777		10/10/49		9,672
			Series - 2016 GS3 (Class AAB)
	12,000,000		GS Mortgage Securities Trust		3.230		05/10/50		11,719
			Series - 2017 GS6 (Class AAB)
	4,221,539	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%	2.788		08/19/45		4,209
			Series - 2005 11 (Class 2A1A)
	3,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		2,796
			Series - 2016 10HY (Class A)
	7,250,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		6,672
			Series - 2016 10HY (Class C)
	2,500,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		2,326
			Series - 2016 10HY (Class B)
	756,590	i	Impac CMB Trust	LIBOR 1 M + 0.660%	2.876		03/25/35		741
			Series - 2004 11 (Class 2A1)
	1,500,000	g	JP Morgan Chase Commercial Mortgage Securities Trust		5.023		08/05/32		1,528
			Series - 2010 CNTR (Class B)
	25,674,997	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.717		02/15/46		26,331
			Series - 2011 C3 (Class A4)
	10,975,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.360		02/15/46		11,207
			Series - 2011 C3 (Class C)
	16,813,036	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.388		07/15/46		17,180
			Series - 2011 C4 (Class A4)
	15,000,000	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.801		07/15/46		15,435
			Series - 2011 C4 (Class B)

366

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.583	%	07/15/46	$	6,713
			Series - 2011 C4 (Class C)
	7,000,000		JP Morgan Chase Commercial Mortgage Securities Trust		2.713		08/15/49		6,735
			Series - 2016 JP2 (Class ASB)
	24,995,928	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%	2.376		06/25/37		24,525
			Series - 2007 CH5 (Class A1)
	7,830,000	g,i	JP Morgan Mortgage Trust		4.000		09/25/40		7,730
			Series - 2018 9 (Class A13)
	1,604,892	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		1,544
			Series - 0 3 (Class A19)
	8,281,358	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		7,968
			Series - 0 6 (Class A13)
	3,197,851	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		3,075
			Series - 0 1 (Class A13)
	599,601	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		590
			Series - 2017 1 (Class A3)
	1,999,631	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		1,943
			Series - 2017 2 (Class A13)
	13,700,055	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		13,293
			Series - 2017 2 (Class A3)
	1,013,499	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		998
			Series - 2017 3 (Class 1A5)
	5,749,140	g,i	JP Morgan Mortgage Trust		3.000		12/25/48		5,563
			Series - 2017 6 (Class A6)
	7,076,070	g,i	JP Morgan Mortgage Trust		3.500		12/25/48		6,962
			Series - 2018 6 (Class 1A3)
	4,516,757	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		4,459
			Series - 2018 8 (Class A13)
	8,500,000		JPMBB Commercial Mortgage Securities Trust		3.775		08/15/47		8,577
			Series - 2014 C21 (Class A5)
	5,000,000		JPMBB Commercial Mortgage Securities Trust		3.997		08/15/47		5,020
			Series - 2014 C21 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.599		09/15/47		2,047
			Series - 2014 C23 (Class B)
	2,500,000	i	JPMBB Commercial Mortgage Securities Trust		3.917		05/15/48		2,497
			Series - 2015 C29 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.118		05/15/48		1,999
			Series - 2015 C29 (Class B)
	5,000,000		JPMBB Commercial Mortgage Securities Trust		3.801		08/15/48		5,042
			Series - 2015 C31 (Class A3)
	2,500,000		JPMBB Commercial Mortgage Securities Trust		4.106		08/15/48		2,522
			Series - 2015 C31 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.771		08/15/48		2,070
			Series - 2015 C31 (Class B)
	5,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.377		10/15/48		4,874
			Series - 2015 C28 (Class C)
	2,200,000		JPMCC Commercial Mortgage Securities Trust		3.241		09/15/50		2,147
			Series - 2017 JP7 (Class ASB)
	6,148,000		JPMDB Commercial Mortgage Securities Trust		3.492		03/15/50		6,094
			Series - 2017 C5 (Class ASB)
	12,404,000		JPMDB Commercial Mortgage Securities Trust		3.242		10/15/50		12,090
			Series - 2017 C7 (Class ASB)

367

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	344,363	g	LB-UBS Commercial Mortgage Trust	6.114	%	07/15/40	$	344
			Series - 2007 C6 (Class AMFL)
	35,747	i	LB-UBS Commercial Mortgage Trust	6.114		07/15/40		36
			Series - 2007 C6 (Class AM)
	15,000,000	g	LCCM	3.357		07/12/50		14,745
			Series - 2017 LC26 (Class ASB)
	1,854,872	g,i	Merrill Lynch Mortgage Trust	6.747		02/12/51		1,839
			Series - 2008 C1 (Class C)
	2,791,688		Morgan Stanley Bank of America Merrill Lynch Trust	2.469		02/15/46		2,745
			Series - 2013 C7 (Class AAB)
	2,300,000	i	Morgan Stanley Bank of America Merrill Lynch Trust	4.219		07/15/46		2,356
			Series - 2013 C10 (Class A4)
	2,000,000	i	Morgan Stanley Bank of America Merrill Lynch Trust	4.899		11/15/46		2,072
			Series - 2013 C13 (Class B)
	1,076,944	g	Morgan Stanley Bank of America Merrill Lynch Trust	3.989		12/15/46		1,071
			Series - 2014 C19 (Class LNC1)
	1,292,000		Morgan Stanley Bank of America Merrill Lynch Trust	3.741		08/15/47		1,303
			Series - 2014 C17 (Class A5)
	4,278,588		Morgan Stanley Bank of America Merrill Lynch Trust	3.194		10/15/47		4,282
			Series - 2014 C18 (Class A2)
	1,600,000		Morgan Stanley Bank of America Merrill Lynch Trust	3.605		02/15/48		1,576
			Series - 2015 C20 (Class AS)
	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust	3.338		03/15/48		2,445
			Series - 2015 C21 (Class A4)
	2,773,927		Morgan Stanley Bank of America Merrill Lynch Trust	3.652		03/15/48		2,723
			Series - 2015 C21 (Class AS)
	3,000,000		Morgan Stanley Bank of America Merrill Lynch Trust	3.561		04/15/48		2,933
			Series - 2015 C22 (Class AS)
	5,000,000	g	Morgan Stanley Capital I Trust	2.695		01/11/32		4,956
			Series - 2013 WLSR (Class A)
	2,550,000	g	Morgan Stanley Capital I Trust	4.012		09/09/32		2,558
			Series - 2014 150E (Class AS)
	3,500,000	g	Morgan Stanley Capital I Trust	4.264		09/09/32		3,539
			Series - 2014 150E (Class B)
	3,283,241	i	Morgan Stanley Capital I Trust	5.389		11/12/41		3,269
			Series - 2006 HQ10 (Class AJ)
	3,450,000	g,i	Morgan Stanley Capital I Trust	5.599		09/15/47		3,540
			Series - 2011 C1 (Class D)
	2,878,574	i	Morgan Stanley Capital I Trust	6.328		06/11/49		2,904
			Series - 2007 IQ15 (Class AJ)
	5,588,560	i	Morgan Stanley Capital I Trust	6.358		12/12/49		4,231
			Series - 2007 IQ16 (Class AJ)
	3,812,115	i	Morgan Stanley Capital I Trust	6.358		12/12/49		2,886
			Series - 2007 IQ16 (Class AJFX)
	12,000,000		Morgan Stanley Capital I Trust	3.304		06/15/50		11,779
			Series - 2017 H1 (Class ASB)
	9,000,000	g,i	MSDB Trust	3.427		07/11/39		8,662
			Series - 2017 712F (Class A)
	1,010,617	g	Prima Capital CRE Securitization Ltd	2.550		08/24/49		1,007
			Series - 2015 4A (Class MR-A)
	2,169,328	g,i	Sequoia Mortgage Trust	3.500		11/25/46		2,143
			Series - 2016 3 (Class A10)

368

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	6,204,895	g,i	Sequoia Mortgage Trust		3.500	%	02/25/47	$	6,105
			Series - 2017 2 (Class A4)
	10,769,494	g,i	Sequoia Mortgage Trust		3.500		04/25/47		10,654
			Series - 2017 3 (Class A4)
	4,243,959	g,i	Sequoia Mortgage Trust		3.500		08/25/47		4,178
			Series - 2017 5 (Class A4)
	8,578,479	g,i	Sequoia Mortgage Trust		3.500		05/25/48		8,451
			Series - 2018 5 (Class A4)
	4,256,189	g,i	Sequoia Mortgage Trust		4.000		06/25/48		4,240
			Series - 2018 CH2 (Class A21)
	6,253,813	g,i	Sequoia Mortgage Trust		4.000		07/25/48		6,278
			Series - 0 6 (Class A4)
	2,592,138	g,i	Shellpoint Co-Originator Trust		3.500		11/21/46		2,551
			Series - 0 1 (Class 1A10)
	2,946,631	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.200%	4.416		09/25/24		3,035
			Series - 2014 HQ2 (Class M2)
	12,238,315	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.950%	4.166		05/25/25		12,561
			Series - 2015 HQ2 (Class M2)
	949,165	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.200%	4.416		10/25/28		958
			Series - 2016 DNA2 (Class M2)
	1,117,527	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 0.800%	3.016		03/25/29		1,118
			Series - 2016 DNA4 (Class M1)
	2,750,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.300%	3.516		03/25/29		2,776
			Series - 2016 DNA4 (Class M2)
	9,197,759	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.200%	3.416		07/25/29		9,278
			Series - 2017 DNA1 (Class M1)
	14,988,294	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.200%	3.416		10/25/29		15,154
			Series - 2017 DNA2 (Class M1)
	2,027,769	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 0.800%	1.959		12/25/29		2,033
			Series - 2017 HQA2 (Class M1)
	40,221,335	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 0.750%	2.966		03/25/30		40,377
			Series - 2017 DNA3 (Class M1)
	4,972,448	g,i	Structured Agency Credit Risk Debt Note (STACR)		3.820		05/25/48		4,970
			Series - 2018 SPI2 (Class M1)
	8,500,000	g,i	Structured Agency Credit Risk Debt Note (STACR)		4.168		08/25/48		8,529
			Series - 2018 SPI3 (Class M1)
	2,685,000	g	VNDO Mortgage Trust		3.808		12/13/29		2,709
			Series - 2013 PENN (Class A)
	2,833,942	g	VSE VOI Mortgage LLC		2.540		07/20/33		2,761
			Series - 2016 A (Class A)
	2,173,420	g	VSE VOI Mortgage LLC		2.740		07/20/33		2,124
			Series - 2016 A (Class B)
	7,464,658	g	VSE VOI Mortgage LLC		2.330		03/20/35		7,205
			Series - 2017 A (Class A)

369

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	3,967,354	i	Wachovia Bank Commercial Mortgage Trust		6.343	%	05/15/46	$	4,034
			Series - 2007 C34 (Class AJ)
	3,328,000	i	Wachovia Bank Commercial Mortgage Trust		6.418		05/15/46		3,386
			Series - 2007 C34 (Class B)
	2,595,000	i	Wachovia Bank Commercial Mortgage Trust		6.418		05/15/46		2,651
			Series - 2007 C34 (Class C)
	3,388,379	i	Wachovia Bank Commercial Mortgage Trust		6.057		06/15/49		3,422
			Series - 2007 C32 (Class AJ)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.539		10/15/45		9,993
			Series - 2012 LC5 (Class AS)
	1,000,000		Wells Fargo Commercial Mortgage Trust		3.148		05/15/48		974
			Series - 2015 NXS1 (Class A5)
	7,500,000		Wells Fargo Commercial Mortgage Trust		3.290		05/15/48		7,371
			Series - 2015 C28 (Class A3)
	2,459,473		Wells Fargo Commercial Mortgage Trust		1.392		07/15/48		2,410
			Series - 2016 C35 (Class A1)
	10,000,000		Wells Fargo Commercial Mortgage Trust		2.788		07/15/48		9,646
			Series - 2016 C35 (Class ASB)
	650,667		Wells Fargo Commercial Mortgage Trust		1.321		08/15/49		633
			Series - 2016 BNK1 (Class A1)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		14,281
			Series - 2016 BNK1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		14,476
			Series - 2016 LC24 (Class ASB)
	8,389,000		Wells Fargo Commercial Mortgage Trust		2.827		11/15/49		8,085
			Series - 2016 NXS6 (Class ASB)
	7,500,000		Wells Fargo Commercial Mortgage Trust		3.446		03/15/50		7,409
			Series - 2017 RB1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		3.261		07/15/50		14,661
			Series - 2017 C38 (Class ASB)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.212		09/15/50		9,722
			Series - 2017 C39 (Class ASB)
	7,250,000		Wells Fargo Commercial Mortgage Trust		3.185		03/15/59		7,130
			Series - 2016 C33 (Class ASB)
	6,000,000		Wells Fargo Commercial Mortgage Trust		3.749		03/15/59		5,914
			Series - 2016 C33 (Class AS)
	500,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		484
			Series - 2016 C36 (Class ASB)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		4,849
			Series - 2010 C1 (Class B)
	787,091	g,i	WFCG Commercial Mortgage Trust	LIBOR 1 M + 1.122%	3.280		11/15/29		789
			Series - 2015 BXRP (Class A)
	30,000,000	g,i	WFRBS Commercial Mortgage Trust		4.902		06/15/44		31,062
			Series - 2011 C4 (Class A4)
	750,000		WFRBS Commercial Mortgage Trust		3.345		05/15/45		733
			Series - 2013 C13 (Class AS)
	4,000,000	i	WFRBS Commercial Mortgage Trust		4.079		03/15/46		4,096
			Series - 2013 UBS1 (Class A4)
			TOTAL OTHER MORTGAGE BACKED						1,382,593
			TOTAL STRUCTURED ASSETS						2,599,169
			(Cost $2,656,892)
			TOTAL BONDS						12,885,970
			(Cost $13,193,895)

370

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							VALUE
SHARES			COMPANY				(000)
COMMON STOCKS - 0.0%
TELECOMMUNICATION SERVICES - 0.0%
	137,781		Oi S.A. (ADR)				$	376
			TOTAL TELECOMMUNICATION SERVICES					376
			TOTAL COMMON STOCKS					376
			(Cost $1,544)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp					2,508
	1,527,061	*	Federal National Mortgage Association					8,414
			TOTAL BANKS					10,922
			TOTAL PREFERRED STOCKS					10,922
			(Cost $49,942)
RIGHTS / WARRANTS - 0.0%
TELECOMMUNICATION SERVICES - 0.0%
	9,842	m	Oi S.A.					26
			TOTAL TELECOMMUNICATION SERVICES					26
			TOTAL RIGHTS / WARRANTS					26
			(Cost $109)
						MATURITY
PRINCIPAL			ISSUER	RATE		DATE
SHORT-TERM INVESTMENTS - 0.4%
GOVERNMENT AGENCY DEBT - 0.1%
$	14,793,000		Federal Home Loan Bank (FHLB)	2.000	%	10/01/18		14,793
			TOTAL GOVERNMENT AGENCY DEBT					14,793
TREASURY DEBT - 0.3%
NGN	550,000,000	j	Nigeria Treasury Bill	0.000		12/13/18		1,472
$	40,000,000		United States Treasury Bill	2.045		11/01/18		39,929
			TOTAL TREASURY DEBT					41,401
			TOTAL SHORT-TERM INVESTMENTS					56,194
			(Cost $56,210)
			TOTAL INVESTMENTS - 98.4%					12,994,996
			(Cost $13,343,176)
			OTHER ASSETS & LIABILITIES, NET - 1.6%					214,096
			NET ASSETS - 100.0%				$	13,209,092

371

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

Abbreviation(s):
ADR	American Depositary Receipt
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CZK	Czechoslovak Koruna
DOP	Dominican Republic Peso
EUR	Euro
GBP	Pound Sterling
IDR	Indonesian Rupiah
ILS	Israeli New Shekel
JPY	Japanese Yen
KRW	South Korean Won
LIBOR	London Interbank Offered Rates
M	Month
MXN	Mexican Peso
NGN	Nigerian Naira
NOK	Norwegian Krone
NZD	New Zealand Dollar
PEN	Peruvian Sol
PLN	Polish Zloty
REIT	Real Estate Investment Trust
RUB	Russian Ruble
SEK	Swedish Krona
SGD	Singapore Dollar
THB	Thai Baht
UYU	Uruguayan Peso
W	Week
ZAR	South African Rand

^	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 9/30/18, the aggregate value of these securities was $2,396,112,000 or 18.1% 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
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
m	Indicates a security that has been deemed illiquid.
o	Payment in Kind Bond
	Cost amounts are in thousands.

372

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

Forward foreign currency contracts outstanding as of September 30, 2018 were as follows (dollar amounts are in thousands) (See Note 3):

						Unrealized
Currency to be						appreciation
purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	(depreciation)
$	545	NZD	822	Bank of America	10/31/18		$   (0	)^
					Total		$   (0	)^
$	8,169	AUD	11,313	Citibank, N.A.	10/31/18		$ (10	)
$	9,487	CAD	12,348	Citibank, N.A.	10/31/18		(80	)
$	20,631	GBP	15,728	Citibank, N.A.	10/31/18		103
$	2,258	ILS	8,130	Citibank, N.A.	10/31/18		17
$	2,336	PLN	8,546	Citibank, N.A.	10/31/18		17
$	578	SEK	5,088	Citibank, N.A.	10/31/18		4
$	4,553	SGD	6,226	Citibank, N.A.	10/31/18		(5	)
$	1,672	THB	54,053	Citibank, N.A.	10/31/18		(1	)
EUR	3,506	$	4,084	Citibank, N.A.	10/31/18		(4	)
$	958	ZAR	13,651	Citibank, N.A.	10/31/18		(4	)
					Total		$  37
$	82,766	EUR	70,933	Morgan Stanley	10/31/18		$209
$	1,616	NOK	13,142	Morgan Stanley	10/31/18		(1	)
EUR	807	$	950	Morgan Stanley	10/31/18		(10	)
					Total		$198
$	35,325	JPY	3,998,627	Toronto Dominion Bank	10/31/18		$  54
					Total		$  54
					Total		$289

^ Amount represents less than $1,000.

Abbreviation(s):
AUD	Australian Dollar
CAD	Canadian Dollar
EUR	Euro
GBP	Pound Sterling
ILS	Israeli New Shekel
JPY	Japanese Yen
NOK	Norwegian Krone
NZD	New Zealand Dollar
PLN	Polish Zloty
SEK	Swedish Krona
SGD	Singapore Dollar
THB	Thai Baht
ZAR	South African Rand

Bilateral credit default swap contracts outstanding as of September 30, 2018 were as follows (values are in thousands) (See Note 3):

Purchased
Reference entity	Terms of payments to be paid	Terms of payments to be received	Counterparty	Maturity date	Notional amount(1)	Value	Upfront receipts (payments)	Unrealized appreciation (depreciation)
CDX-EMS30V1-5 Year Index	1.000%	Credit event as specified in contract	Citibank, N.A.	12/20/23	$50,000	$2,085	$2,407	$(322)

(1) The maximum potential amount the Account could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs is defined under the terms of that particular swap agreement. This amount may be reduced by any recoverable assets, if applicable.

373

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2018

							MATURITY		VALUE
PRINCIPAL			ISSUER	RATE			DATE		(000)
BONDS - 99.5%
GOVERNMENT BONDS -  99.5%
AGENCY SECURITIES - 0.7%
$	16,280,000		Montefiore Medical Center		2.895	%		04/20/32	$	14,858
	3,500,000		Private Export Funding Corp (PEFCO)		2.300			09/15/20		3,454
	3,000,000		PEFCO		3.250			06/15/25		2,985
	4,934,211		Reliance Industries Ltd		2.444			01/15/26		4,792
	3,500,000		Ukraine Government AID Bonds		1.847			05/29/20		3,443
	15,000,000		Ukraine Government AID Bonds		1.471			09/29/21		14,355
			TOTAL AGENCY SECURITIES							43,887
MORTGAGE BACKED - 0.2%
	12,423,549		Government National Mortgage Association (GNMA)		3.650			02/15/32		12,382
	3,356,277		GNMA		3.870			10/15/36		3,387
			TOTAL MORTGAGE BACKED							15,769
U.S. TREASURY SECURITIES - 98.6%
	139,027,448	k	United States Treasury Inflation Indexed Bonds		1.375			01/15/20		140,028
	372,875,580	k	United States Treasury Inflation Indexed Bonds		0.125			04/15/20		368,040
	237,613,690	k	United States Treasury Inflation Indexed Bonds		1.250			07/15/20		240,347
	317,885,639	k	United States Treasury Inflation Indexed Bonds		1.125			01/15/21		319,814
	338,123,040	k	United States Treasury Inflation Indexed Bonds		0.125			04/15/21		331,209
	330,739,896	k	United States Treasury Inflation Indexed Bonds		0.625			07/15/21		329,902
	362,952,652	k	United States Treasury Inflation Indexed Bonds		0.125			01/15/22		354,029
	289,626,285	k	United States Treasury Inflation Indexed Bonds		0.125			04/15/22		281,432
	369,301,450	k	United States Treasury Inflation Indexed Bonds		0.125			07/15/22		360,415
	326,439,230	k	United States Treasury Inflation Indexed Bonds		0.125			01/15/23		316,075
	222,693,725	k	United States Treasury Inflation Indexed Bonds		0.625			04/15/23		219,846
	232,277,760	k	United States Treasury Inflation Indexed Bonds		0.375			07/15/23		227,769
	150,395,570	k	United States Treasury Inflation Indexed Bonds		0.625			01/15/24		148,409
	136,379,620	k	United States Treasury Inflation Indexed Bonds		0.125			07/15/24		131,044
	173,427,110	k	United States Treasury Inflation Indexed Bonds		0.250			01/15/25		166,445
	263,720,839	k	United States Treasury Inflation Indexed Bonds		2.375			01/15/25		287,383
	114,768,360	k	United States Treasury Inflation Indexed Bonds		0.375			07/15/25		111,133
	155,905,260	k	United States Treasury Inflation Indexed Bonds		0.625			01/15/26		152,586
	210,546,344	d,k	United States Treasury Inflation Indexed Bonds		2.000			01/15/26		226,540
	134,570,240	k	United States Treasury Inflation Indexed Bonds		0.125			07/15/26		126,913
	209,171,625	k	United States Treasury Inflation Indexed Bonds		0.375			01/15/27		199,756
	120,214,406	k	United States Treasury Inflation Indexed Bonds		2.375			01/15/27		133,967
	118,988,100	k	United States Treasury Inflation Indexed Bonds		0.375			07/15/27		113,720
	209,949,075	k	United States Treasury Inflation Indexed Bonds		0.500			01/15/28		201,551
	213,396,234	k	United States Treasury Inflation Indexed Bonds		1.750			01/15/28		228,487
	110,663,342	k	United States Treasury Inflation Indexed Bonds		3.625			04/15/28		137,348
	60,236,400	k	United States Treasury Inflation Indexed Bonds		0.750			07/15/28		59,290
	138,386,304	k	United States Treasury Inflation Indexed Bonds		2.500			01/15/29		159,063

374

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

						MATURITY	VALUE
PRINCIPAL			ISSUER	RATE		DATE	(000)
$	184,090,765	k	United States Treasury Inflation Indexed Bonds	3.875	%	04/15/29	$	237,014
	3,549,375	k	United States Treasury Inflation Indexed Bonds	3.375		04/15/32		4,610
			TOTAL U.S. TREASURY SECURITIES					6,314,165
			TOTAL GOVERNMENT BONDS					6,373,821
			(Cost $6,346,983)
			TOTAL BONDS					6,373,821
			(Cost $6,346,983)
SHORT-TERM INVESTMENTS - 0.3%
GOVERNMENT AGENCY DEBT - 0.3%
	16,150,000		Federal Home Loan Bank (FHLB)	2.000		10/01/18		16,150
			TOTAL GOVERNMENT AGENCY DEBT					16,150
			TOTAL SHORT-TERM INVESTMENTS					16,150
			(Cost $16,150)
			TOTAL INVESTMENTS - 99.8%					6,389,971
			(Cost $6,363,133)
			OTHER ASSETS & LIABILITIES, NET - 0.2%					14,449
			NET ASSETS - 100.0%				$	6,404,420

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, 2018 were as follows (notional amounts and values are in thousands) (See Note 3):

Description	Number of long (short) contracts		Expiration date		Notional amount			Value			Unrealized appreciation (depreciation)
US 10 Year Note (CBT)	(100	)		12/19/18	$	(11,993	)	$	(11,878	)	$	115

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND
SOCIAL CHOICE ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2018

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 1 M + 2.750%	4.990	%	03/03/23	$	2,580
			TOTAL CAPITAL GOODS						2,580
ENERGY - 0.0%
	3,898,672	i	TerraForm Power Operating LLC	LIBOR 1 M + 2.000%	4.240		11/08/22		3,908
			TOTAL ENERGY						3,908
MATERIALS - 0.0%
	3,215,584	i	H.B. Fuller Co	LIBOR 1 M + 2.000%	4.170		10/21/24		3,211
			TOTAL MATERIALS						3,211
MEDIA - 0.1%
	11,197,137	i	Charter Communications Operating LLC	LIBOR 1 M + 2.000%	4.250		04/30/25		11,211
			TOTAL MEDIA						11,211
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	8,509,043	i	MTS Systems Corp	LIBOR 1 M + 3.250%	5.410		07/05/23		8,572
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						8,572
UTILITIES - 0.1%
	5,001,566	i	ExGen Renewables IV LLC	LIBOR 3 M + 3.000%	5.320		11/28/24		5,039
	14,455,919	†,i	Terra-Gen Finance Co LLC	LIBOR 1 M + 4.250%	6.490		12/09/21		11,854
			TOTAL UTILITIES						16,893
			TOTAL BANK LOAN OBLIGATIONS						46,375
			(Cost $48,703)
BONDS - 39.3%
CORPORATE BONDS - 14.4%
AUTOMOBILES & COMPONENTS - 0.1%
	1,955,000	e,g	Adient Global Holdings Ltd		4.875		08/15/26		1,738
	12,000,000		Ford Motor Co		4.750		01/15/43		9,999
	4,675,000		Magna International, Inc		3.625		06/15/24		4,623
			TOTAL AUTOMOBILES & COMPONENTS						16,360
BANKS - 3.3%
	10,900,000		Bank of America Corp		2.151		11/09/20		10,667
	21,500,000	e,g	Bank of Montreal		2.500		01/11/22		20,984
	18,500,000	e	Bank of Nova Scotia		2.125		09/11/19		18,367
	12,000,000	e,g	Bank of Nova Scotia		1.875		09/20/21		11,520
	14,000,000		BB&T Corp		3.700		06/05/25		13,944

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	3,160,000	e,g	Canadian Imperial Bank of Commerce		3.150	%	06/27/21	$	3,150
	15,000,000	i	Canadian Imperial Bank of Commerce	LIBOR 3 M + 0.660%	2.994		09/13/23		15,020
	15,000,000	i	Citizens Bank NA	LIBOR 3 M + 0.540%	2.861		03/02/20		15,047
	1,350,000		Citizens Financial Group, Inc		2.375		07/28/21		1,302
	7,025,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		6,979
	7,800,000	i	Cooperatieve Rabobank UA	LIBOR 3 M + 0.430%	2.765		04/26/21		7,816
	7,275,000		Cooperatieve Rabobank UA		2.750		01/10/22		7,079
	15,000,000	i	Cooperatieve Rabobank UA	LIBOR 3 M + 0.480%	2.811		01/10/23		14,964
	4,950,000		Cooperatieve Rabobank UA		3.750		07/21/26		4,673
	9,400,000		Discover Bank		3.450		07/27/26		8,742
	9,300,000		Discover Bank		4.650		09/13/28		9,317
	5,000,000	e,g	DNB Boligkreditt AS.		2.000		05/28/20		4,895
	10,000,000		First Niagara Financial Group, Inc		6.750		03/19/20		10,480
	13,400,000		HSBC Holdings plc		3.033		11/22/23		12,939
	11,500,000	g	Intesa Sanpaolo S.p.A		5.017		06/26/24		10,375
	10,000,000	g	Intesa Sanpaolo S.p.A		5.710		01/15/26		9,119
	14,500,000		KeyCorp		4.100		04/30/28		14,416
	11,250,000	i	M&T Bank Corp	LIBOR 3 M + 0.680%	3.015		07/26/23		11,326
	4,644,000	i	Manufacturers & Traders Trust Co	LIBOR 1 M + 1.215%	3.457		12/28/20		4,648
	9,076,000	i	Manufacturers & Traders Trust Co	LIBOR 3 M + 0.640%	2.961		12/01/21		9,055
	1,605,000		Manufacturers & Traders Trust Co		2.900		02/06/25		1,530
	3,425,000		Manufacturers & Traders Trust Co		3.400		08/17/27		3,288
	18,775,000		Mitsubishi UFJ Financial Group, Inc		2.527		09/13/23		17,646
	12,250,000		People’s United Bank		4.000		07/15/24		12,099
	24,878,000		People’s United Financial, Inc		3.650		12/06/22		24,660
	8,245,000		PNC Bank NA		2.950		01/30/23		7,979
	13,500,000	i	Regions Bank	LIBOR 3 M + 0.380%	2.776		04/01/21		13,502
	6,600,000	i	Regions Bank	LIBOR 3 M + 0.500%	2.838		08/13/21		6,605
	10,000,000		Regions Financial Corp		2.750		08/14/22		9,642
	8,450,000		Royal Bank of Canada		1.875		02/05/20		8,320
	12,000,000		Royal Bank of Canada		2.100		10/14/20		11,741
	17,785,000		SVB Financial Group		3.500		01/29/25		17,189
	23,700,000		Toronto-Dominion Bank		1.850		09/11/20		23,161
	7,800,000	i	Toronto-Dominion Bank	LIBOR 3 M + 0.260%	2.594		09/17/20		7,809
	5,000,000	e	Toronto-Dominion Bank		1.800		07/13/21		4,807
	12,000,000	g	Toronto-Dominion Bank		2.500		01/18/22		11,675
	14,000,000		US Bancorp		2.950		07/15/22		13,706
	12,019,000	g	Westpac Banking Corp		2.100		02/25/21		11,689
			TOTAL BANKS						463,872
CAPITAL GOODS - 0.6%
	4,500,000	i	3M Co	LIBOR 3 M + 0.300%	2.519		02/14/24		4,491
	18,000,000		Air Lease Corp		3.875		07/03/23		17,833
	6,525,000		Air Lease Corp		4.250		09/15/24		6,491
	1,975,000		Anixter, Inc		5.125		10/01/21		2,010
	4,575,000		Anixter, Inc		5.500		03/01/23		4,724
	6,250,000		CNH Industrial Capital LLC		3.875		10/15/21		6,232
	4,800,000		CNH Industrial Capital LLC		4.200		01/15/24		4,775
	4,000,000		Ingersoll-Rand Luxembourg Finance S.A.		3.550		11/01/24		3,906
	3,250,000		Johnson Controls International plc		5.000		03/30/20		3,315
	5,625,000		Parker-Hannifin Corp		4.200		11/21/34		5,625
	6,980,000		Pentair Finance S.A.		2.650		12/01/19		6,945
	3,300,000		Rockwell Collins, Inc		3.100		11/15/21		3,243
	6,125,000		Rockwell Collins, Inc		3.700		12/15/23		6,093

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	725,000		Trimble, Inc		4.150	%	06/15/23	$	725
	6,050,000		Trimble, Inc		4.900		06/15/28		6,081
			TOTAL CAPITAL GOODS						82,489
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	2,730,000		Waste Management, Inc		4.600		03/01/21		2,800
	3,475,000		Waste Management, Inc		3.900		03/01/35		3,392
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						6,192
CONSUMER SERVICES - 0.5%
	10,000,000		Henry J Kaiser Family Foundation		3.356		12/01/25		9,660
	1,250,000		McDonald’s Corp		5.000		02/01/19		1,259
	7,550,000		Nature Conservancy		6.300		07/01/19		7,670
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations		4.305		07/01/45		17,169
	5,145,000		Salvation Army		5.637		09/01/26		5,550
	20,000,000		Salvation Army		4.528		09/01/48		19,637
	9,800,000		Starbucks Corp		2.450		06/15/26		8,821
			TOTAL CONSUMER SERVICES						69,766
DIVERSIFIED FINANCIALS - 1.2%
	12,500,000	i	American Express Co	LIBOR 3 M + 0.750%	3.098		08/03/23		12,505
	14,500,000		American Express Co		3.000		10/30/24		13,846
	2,169,000		Discover Financial Services		3.850		11/21/22		2,144
	5,103,000	g	EDP Finance BV		4.125		01/15/20		5,130
	9,500,000	e,g	EDP Finance BV		5.250		01/14/21		9,755
	11,625,000	g	EDP Finance BV		3.625		07/15/24		11,088
	9,500,000		Ford Foundation		3.859		06/01/47		9,183
	2,300,000		Legg Mason, Inc		3.950		07/15/24		2,268
	2,214,000	e	Northern Trust Corp		3.375		08/23/21		2,222
	18,900,000	g	Pattern Energy Group, Inc		5.875		02/01/24		19,089
	680,000		Reinvestment Fund, Inc		3.377		02/15/22		676
	1,535,000		Reinvestment Fund, Inc		3.166		11/01/23		1,501
	3,000,000		Reinvestment Fund, Inc		3.600		02/15/24		2,975
	10,250,000		Reinvestment Fund, Inc		3.366		11/01/24		9,998
	2,570,000		Reinvestment Fund, Inc		3.513		11/01/25		2,508
	15,240,000		Reinvestment Fund, Inc		3.880		02/15/27		15,074
	10,435,000		Reinvestment Fund, Inc		3.930		02/15/28		10,311
	15,000,000		State Street Corp		2.653		05/15/23		14,523
	9,000,000	i	Toyota Motor Credit Corp	LIBOR 3 M + 0.280%	2.617		04/13/21		9,012
	11,075,000		Unilever Capital Corp		2.000		07/28/26		9,788
	4,750,000	e	Unilever Capital Corp		3.500		03/22/28		4,654
			TOTAL DIVERSIFIED FINANCIALS						168,250
ENERGY - 1.3%
	3,281,000		Apache Corp		3.250		04/15/22		3,229
	14,500,000		Cenovus Energy, Inc		5.250		06/15/37		14,359
	3,175,000		Cimarex Energy Co		3.900		05/15/27		3,030
	7,550,000	g	Colorado Interstate Gas Co LLC		4.150		08/15/26		7,387
	7,499,485	g	Continental Wind LLC		6.000		02/28/33		7,672
	8,450,000		EOG Resources, Inc		3.900		04/01/35		8,239
	4,450,000		EOG Resources, Inc		5.100		01/15/36		4,933

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	2,095,000	i	EQT Corp	LIBOR 3 M + 0.770%	2.103	%	10/01/20	$	2,094
	11,050,000	g	Greenko Dutch BV		4.875		07/24/22		10,498
	15,000,000		Kinder Morgan, Inc		3.150		01/15/23		14,589
	1,000,000		Marathon Oil Corp		2.700		06/01/20		987
	17,292,000		National Oilwell Varco, Inc		3.950		12/01/42		14,978
	3,290,000		Noble Energy, Inc		5.050		11/15/44		3,182
	3,875,000		ONEOK, Inc		4.000		07/13/27		3,745
	6,200,000		ONEOK, Inc		4.950		07/13/47		6,151
	2,775,000	g,i	Phillips 66	LIBOR 3 M + 0.750%	3.089		04/15/20		2,776
	9,000,000		Phillips 66		4.650		11/15/34		9,118
	9,500,000		Statoil ASA		3.150		01/23/22		9,456
	4,500,000	e	Statoil ASA		2.650		01/15/24		4,308
	5,932,000		Statoil ASA		3.950		05/15/43		5,770
	20,000,000	g	TerraForm Power Operating LLC		5.000		01/31/28		18,600
	5,000,000	g	Texas Eastern Transmission LP		4.125		12/01/20		5,049
	8,700,000		Valero Energy Corp		4.350		06/01/28		8,759
	10,050,000	g	Woodside Finance Ltd		3.700		03/15/28		9,423
			TOTAL ENERGY						178,332
HEALTH CARE EQUIPMENT & SERVICES - 0.3%
	7,500,000	i	Becton Dickinson & Co	LIBOR 3 M + 1.030%	3.351		06/06/22		7,542
	2,750,000		Becton Dickinson & Co		3.363		06/06/24		2,656
	4,500,000		Becton Dickinson & Co		4.685		12/15/44		4,430
	15,000,000	g,i	Halfmoon Parent, Inc	LIBOR 3 M + 0.890%	3.224		07/15/23		15,001
	5,500,000	g	Halfmoon Parent, Inc		4.800		08/15/38		5,491
	9,000,000		Laboratory Corp of America Holdings		3.200		02/01/22		8,879
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						43,999
INSURANCE - 0.4%
	3,000,000	g,i	Cranberry RE Ltd	LIBOR 6 M + 1.600%	4.158		07/13/20		3,039
	15,000,000		Prudential Financial, Inc		5.200		03/15/44		14,925
	7,450,000		Prudential Financial, Inc		5.375		05/15/45		7,431
	18,222,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		17,669
	14,024,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		13,628
			TOTAL INSURANCE						56,692
MATERIALS - 0.8%
	2,275,000		Ball Corp		5.000		03/15/22		2,342
	8,930,000		Ball Corp		4.000		11/15/23		8,718
	4,800,000	g	Commercial Metals Co		5.750		04/15/26		4,656
	2,300,000		Eastman Chemical Co		5.500		11/15/19		2,362
	20,000,000	e	Fibria Overseas Finance Ltd		5.500		01/17/27		19,824
	1,350,000		International Flavors & Fragrances, Inc		3.400		09/25/20		1,352
	4,475,000	e	International Flavors & Fragrances, Inc		5.000		09/26/48		4,475
	7,500,000		International Paper Co		5.000		09/15/35		7,617
	5,000,000		International Paper Co		6.000		11/15/41		5,546
	4,600,000		International Paper Co		4.800		06/15/44		4,462
	17,000,000	e,g	Inversiones CMPC S.A.		4.375		04/04/27		16,587
	8,125,000	g	Klabin Finance S.A.		4.875		09/19/27		7,181
	5,000,000		MeadWestvaco Corp		7.375		09/01/19		5,179
	2,500,000	g	Sealed Air Corp		5.500		09/15/25		2,553
	6,850,000	g	WestRock Co		3.000		09/15/24		6,474
	7,450,000	g	WestRock Co		3.750		03/15/25		7,319
			TOTAL MATERIALS						106,647

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
MEDIA - 0.2%
$	2,775,000	e,g	CCO Holdings LLC		4.000	%	03/01/23	$	2,656
	3,125,000		Charter Communications Operating LLC		3.579		07/23/20		3,127
	14,850,000		Charter Communications Operating LLC		4.464		07/23/22		15,096
	3,625,000		Discovery Communications LLC		5.000		09/20/37		3,526
	5,500,000		Time Warner Cable, Inc		4.500		09/15/42		4,688
			TOTAL MEDIA						29,093
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.2%
	5,000,000		Bristol-Myers Squibb Co		3.250		08/01/42		4,287
	4,000,000	i	GlaxoSmithKline Capital plc	LIBOR 3 M + 0.350%	2.693		05/14/21		4,026
	8,650,000		GlaxoSmithKline Capital plc		3.625		05/15/25		8,632
	3,300,000		Zoetis, Inc		3.450		11/13/20		3,314
	7,200,000	i	Zoetis, Inc	LIBOR 3 M + 0.440%	2.762		08/20/21		7,212
	4,525,000		Zoetis, Inc		4.450		08/20/48		4,474
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						31,945
REAL ESTATE - 0.5%
	8,500,000	e	Alexandria Real Estate Equities, Inc		4.000		01/15/24		8,519
	1,975,000		Brandywine Operating Partnership LP		3.950		02/15/23		1,962
	4,300,000		Brandywine Operating Partnership LP		3.950		11/15/27		4,061
	8,775,000		Brixmor Operating Partnership LP		3.900		03/15/27		8,310
	5,113,000		Digital Realty Trust LP		3.950		07/01/22		5,144
	3,500,000	e	Federal Realty Investment Trust		2.750		06/01/23		3,342
	3,225,000		Healthcare Realty Trust, Inc		3.625		01/15/28		2,999
	11,075,000		Kilroy Realty LP		3.450		12/15/24		10,589
	16,825,000		Mid-America Apartments LP		4.000		11/15/25		16,552
	16,822,000		Regency Centers LP		3.750		06/15/24		16,431
			TOTAL REAL ESTATE						77,909
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	8,298,000		Apple, Inc		2.850		02/23/23		8,150
	14,250,000		Apple, Inc		3.000		06/20/27		13,552
	10,200,000		Corning, Inc		4.375		11/15/57		8,917
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						30,619
TELECOMMUNICATION SERVICES - 0.4%
	3,400,000	e	CenturyLink, Inc		6.750		12/01/23		3,532
	5,000,000	i	Verizon Communications, Inc	LIBOR 3 M + 1.000%	3.334		03/16/22		5,105
	18,500,000	i	Verizon Communications, Inc	LIBOR 3 M + 1.100%	3.414		05/15/25		18,660
	11,750,000		Verizon Communications, Inc		2.625		08/15/26		10,648
	9,050,000		Verizon Communications, Inc		4.272		01/15/36		8,615
	7,350,000		Verizon Communications, Inc		5.250		03/16/37		7,827
			TOTAL TELECOMMUNICATION SERVICES						54,387
TRANSPORTATION - 0.9%
	6,775,000		CSX Corp		4.250		11/01/66		6,065
	7,150,000		Delta Air Lines, Inc		3.625		03/15/22		7,061
	2,001,384		Delta Air Lines, Inc		4.250		07/30/23		1,998
	5,158,397		Delta Air Lines, Inc		3.625		07/30/27		5,106
	4,000,000		Kansas City Southern		3.000		05/15/23		3,846

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	7,000,000	e	Kansas City Southern		4.300	%	05/15/43	$	6,564
	15,925,000		Kansas City Southern		4.950		08/15/45		16,351
	2,175,000	g	Mexico City Airport Trust		4.250		10/31/26		2,045
	9,525,000	g	Mexico City Airport Trust		5.500		10/31/46		8,382
	11,050,000	g	Mexico City Airport Trust		5.500		07/31/47		9,862
	475,000		Norfolk Southern Corp		5.590		05/17/25		517
	5,933,679		Spirit Airlines Pass Through Trust		3.800		02/15/26		5,738
	9,811,991		Spirit Airlines Pass Through Trust		3.375		02/15/30		9,378
	7,688,902		Spirit Airlines, Inc		4.100		04/01/28		7,660
	13,000,000		Union Pacific Corp		4.375		09/10/38		13,204
	4,812,205		Union Pacific Railroad Co		3.227		05/14/26		4,660
	15,921,648		Union Pacific Railroad Co		2.695		05/12/27		14,737
	1,360,000		United Parcel Service of America, Inc (Step Bond)		8.375		04/01/30		1,805
	2,250,000	i	United Parcel Service, Inc	LIBOR 3 M + 0.380%	2.695		05/16/22		2,269
	7,500,000	i	United Parcel Service, Inc	LIBOR 3 M + 0.450%	2.846		04/01/23		7,531
			TOTAL TRANSPORTATION						134,779
UTILITIES - 3.5%
	2,000,000		Atmos Energy Corp		8.500		03/15/19		2,050
	11,100,000		Avangrid, Inc		3.150		12/01/24		10,577
	20,275,000		Avista Corp		4.350		06/01/48		20,233
	700,000	g	Azure Power Energy Ltd		5.500		11/03/22		664
	16,500,000	g	Brooklyn Union Gas Co		4.273		03/15/48		16,260
	3,000,000	g,h	Clearway Energy Operating LLC		5.750		10/15/25		3,028
	1,200,000		Connecticut Light & Power Co		5.500		02/01/19		1,211
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,359
	22,500,000	g	Electricite de France S.A.		3.625		10/13/25		21,757
	6,150,000		Fortis, Inc		2.100		10/04/21		5,875
	10,750,000		Fortis, Inc		3.055		10/04/26		9,859
	13,750,000		Georgia Power Co		3.250		04/01/26		12,979
	2,745,000		International Transmission Co		4.625		08/15/43		2,764
	6,575,000		Interstate Power & Light Co		3.250		12/01/24		6,377
	24,325,000	e,g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		24,146
	4,000,000		MidAmerican Energy Co		3.100		05/01/27		3,809
	9,250,000	g	Narragansett Electric Co		4.170		12/10/42		8,787
	2,050,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		2,009
	3,875,000	g	NextEra Energy Operating Partners LP		4.500		09/15/27		3,710
	9,732,000	g	Niagara Mohawk Power Corp		4.278		10/01/34		9,728
	9,750,000	g	Niagara Mohawk Power Corp		4.119		11/28/42		9,428
	1,500,000		Northwest Natural Gas Co		5.620		11/21/23		1,642
	11,000,000		NorthWestern Corp		4.176		11/15/44		10,784
	13,050,000		PSEG Power LLC		3.850		06/01/23		13,000
	630,000		Public Service Co of Colorado		4.750		08/15/41		661
	7,625,000		Public Service Co of Colorado		4.100		06/15/48		7,572
	5,500,000		San Diego Gas & Electric Co		3.000		08/15/21		5,454
	6,687,554		San Diego Gas & Electric Co		1.914		02/01/22		6,524
	17,000,000		San Diego Gas & Electric Co		4.150		05/15/48		16,632
	25,193,035	g	Solar Star Funding LLC		3.950		06/30/35		23,119
	23,832,140	g	Solar Star Funding LLC		5.375		06/30/35		24,308
	2,000,000		Southern California Edison Co		2.400		02/01/22		1,927
	6,000,000		Southern California Edison Co		3.400		06/01/23		5,941
	4,700,000		Southern California Edison Co		4.125		03/01/48		4,485
	6,600,000		Southern Power Co		1.950		12/15/19		6,510
	8,300,000		Southern Power Co		2.500		12/15/21		8,033

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	25,000,000		Southern Power Co		4.150	%	12/01/25	$	24,614
	39,500,000	e,g	Star Energy Geothermal Wayang Windu Ltd		6.750		04/24/33		37,350
	12,400,000		Tampa Electric Co		4.300		06/15/48		12,303
	23,077,387	g	Topaz Solar Farms LLC		4.875		09/30/39		22,536
	12,681,019	g	Topaz Solar Farms LLC		5.750		09/30/39		13,208
	5,000,000		Washington Gas Light Co		5.440		08/11/25		5,428
	19,650,000		Westar Energy, Inc		2.550		07/01/26		17,994
	16,525,000		WGL Holdings, Inc		2.250		11/01/19		16,293
	20,000,000	i	WGL Holdings, Inc	LIBOR 3 M + 0.550%	2.884		03/12/20		20,014
	4,350,000		ZB NA		3.500		08/27/21		4,325
			TOTAL UTILITIES						488,267
			TOTAL CORPORATE BONDS						2,039,598
			(Cost $2,084,239)
GOVERNMENT BONDS - 21.0%
AGENCY SECURITIES - 4.0%
	26,898,438		Abay Leasing LLC		2.654		11/09/26		26,242
	5,000,000		Canal Barge Co, Inc		4.500		11/12/34		5,176
	21,555,301		CES MU2 LLC		2.166		12/16/26		20,555
	4,064,527		CES MU2 LLC		1.994		05/13/27		3,836
	6,600,000		DY9 Leasing LLC		2.415		06/30/27		6,357
	9,972,431		Ethiopian Leasing LLC		2.566		08/14/26		9,599
	2,937,105		Export Lease Ten Co LLC		1.650		05/07/25		2,788
	4,401,769		Export Leasing LLC		1.859		08/28/21		4,324
	2,290,826	†,g	Genesis Solar Pass Through Trust		3.875		02/15/38		2,376
	1,096,000	j	Government Trust Certificate		0.000		04/01/19		1,081
	5,000,000	j	Government Trust Certificate		0.000		04/01/21		4,636
	5,950,000		Hashemite Kingdom of Jordan Government AID Bond		3.000		06/30/25		5,846
	5,065,000	g	Hospital for Special Surgery		3.500		01/01/23		5,067
	6,375,000	i	India Government AID Bond	LIBOR 3 M + 0.100%	2.443		02/01/27		6,160
	45,500,000		Iraq Government AID Bond		2.149		01/18/22		44,121
	4,295,000		Lutheran Medical Center		1.982		02/20/30		3,891
	6,375,000		Mexican Aircraft Finance V LLC		2.329		01/14/27		6,136
	5,325,000		Montefiore Medical Center		2.152		10/20/26		4,932
	3,225,000	g	Montefiore Medical Center		3.896		05/20/27		3,192
	20,125,000		Montefiore Medical Center		2.895		04/20/32		18,367
	20,900,000	†	NCUA Guaranteed Notes		3.000		06/12/19		20,961
	7,000,000	†	NCUA Guaranteed Notes		3.450		06/12/21		7,089
	16,040,000		New York Society for the Relief of the Ruptured & Crippled		2.881		12/20/31		15,361
	5,540,000	j	Overseas Private Investment Corp (OPIC)		0.000		11/13/18		5,615
	3,150,000	j	OPIC		0.000		09/30/19		3,165
	4,363,082	j	OPIC		0.000		11/15/19		4,715
	3,050,000	j	OPIC		0.000		01/26/21		3,053
	12,226,000	j	OPIC		0.000		07/17/21		12,071
	3,385,648		OPIC		2.290		09/15/26		3,269
	1,780,388		OPIC		2.040		12/15/26		1,714
	9,438,656		OPIC		2.740		09/15/29		9,079
	11,616,807		OPIC		3.220		09/15/29		11,539
	13,068,908		OPIC		3.280		09/15/29		13,015
	2,421,331		OPIC		2.610		04/15/30		2,311

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	3,676,500		OPIC		2.930	%	05/15/30	$	3,590
	6,075,900		OPIC		3.040		05/15/30		5,971
	6,911,833		OPIC		3.540		06/15/30		6,994
	17,917,908		OPIC		3.370		12/15/30		17,954
	20,231,254		OPIC		3.820		12/20/32		20,553
	13,052,422		OPIC		3.938		12/20/32		13,373
	11,303,244		OPIC		3.160		06/01/33		10,924
	10,851,115		OPIC		3.430		06/01/33		10,717
	1,146,187		OPIC		2.810		07/31/33		1,082
	1,833,898		OPIC		2.940		07/31/33		1,748
	4,366,011		Penta Aircraft Leasing LLC		1.691		04/29/25		4,153
	4,090,907	i	Pluto Aircraft Leasing LLC	LIBOR 3 M + 0.210%	2.553		02/07/23		4,088
	5,000,000		Private Export Funding Corp (PEFCO)		4.375		03/15/19		5,040
	5,854,000		PEFCO		1.450		08/15/19		5,786
	8,000,000		PEFCO		2.300		09/15/20		7,894
	17,500,000		PEFCO		4.300		12/15/21		18,137
	4,250,000		PEFCO		2.050		11/15/22		4,082
	4,000,000		PEFCO		3.550		01/15/24		4,073
	8,000,000		PEFCO		3.250		06/15/25		7,959
	4,834,930		Safina Ltd		1.550		01/15/22		4,719
	6,988,543		Sandalwood 2013 LLC		2.836		07/10/25		6,910
	1,649,131		Tayarra Ltd		3.628		02/15/22		1,664
	1,560,361		Tricahue Leasing LLC		3.503		11/19/21		1,571
	15,300,000		Ukraine Government AID Bonds		1.847		05/29/20		15,049
	23,945,000		Ukraine Government AID Bonds		1.471		09/29/21		22,916
	8,152,175		Ulani MSN 37894		2.184		12/20/24		7,897
	2,837,892		Union 16 Leasing LLC		1.863		01/22/25		2,720
	7,110,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		7,245
	750,000		US Department of Housing and Urban Development (HUD)		2.050		08/01/19		746
	8,774,000		HUD		4.870		08/01/19		8,926
	12,895,000		HUD		4.960		08/01/20		13,123
	12,530,000		HUD		5.050		08/01/21		12,757
	3,217,000		HUD		2.910		08/01/23		3,181
			TOTAL AGENCY SECURITIES						561,181
FOREIGN GOVERNMENT BONDS - 3.8%
	13,550,000		African Development Bank		2.375		09/23/21		13,291
	17,500,000		Asian Development Bank		2.125		03/19/25		16,432
	14,000,000		Asian Development Bank		3.125		09/26/28		13,885
	17,000,000	g	Bank Nederlandse Gemeenten NV		2.125		12/14/20		16,683
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,912
	5,261,251	g	Carpintero Finance Ltd		2.004		09/18/24		5,073
	5,000,000	g	CPPIB Capital, Inc		2.750		11/02/27		4,732
	2,000,000		European Investment Bank		2.000		03/15/21		1,954
	11,250,000	g	European Investment Bank		2.875		06/13/25		11,046
	20,750,000		European Investment Bank		2.125		04/13/26		19,263
	3,750,000	e	European Investment Bank		2.375		05/24/27		3,516
	2,000,000		European Investment Bank		4.875		02/15/36		2,402
	15,775,000		Export Development Canada		1.250		12/10/18		15,733
	9,000,000		Export Development Canada		1.625		12/03/19		8,877
	15,000,000	e	Export Development Canada		2.000		11/30/20		14,695
	12,000,000		Export Development Canada		1.375		10/21/21		11,407
	15,000,000	g	Finnvera Oyj		2.375		06/04/25		14,071

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	6,082,000		Hydro Quebec		8.400	%	01/15/22	$	6,960
	20,000,000	i	Inter-American Development Bank	LIBOR 3 M + 0.010%	2.349		01/15/22		19,987
	27,900,000	g	International Development Association		2.750		04/24/23		27,489
	19,250,000		International Finance Corp		1.750		03/30/20		18,932
	46,500,000		International Finance Corp		1.546		11/04/21		44,121
	40,500,000	e	International Finance Corp		2.125		04/07/26		37,741
	5,000,000		Japan Bank for International Cooperation		1.875		04/20/21		4,836
	9,000,000	g	Japan Finance Organization for Municipalities		2.125		04/13/21		8,723
	3,350,000	g	Japan Finance Organization for Municipalities		3.375		09/27/23		3,337
	3,000,000		KFW		1.875		11/30/20		2,933
	10,000,000		KFW		2.625		01/25/22		9,869
	8,850,000	g	Kommunalbanken AS.		1.375		10/26/20		8,563
	12,500,000	e,g	Kommunalbanken AS.		2.125		02/11/25		11,698
	18,500,000	i	Korea Development Bank	LIBOR 3 M + 0.725%	3.062		07/06/22		18,520
	16,750,000		Kreditanstalt fuer Wiederaufbau		2.000		11/30/21		16,228
	3,000,000	g	Nacional Financiera SNC		3.375		11/05/20		2,974
	25,000,000	g	Nederlandse Waterschapsbank NV		2.375		03/24/26		23,523
	10,000,000		North American Development Bank		2.300		10/10/18		10,001
	2,000,000		North American Development Bank		4.375		02/11/20		2,028
	27,800,000	g	Perusahaan Penerbit SBSN Indonesia III		3.750		03/01/23		27,314
	15,000,000		Province of Manitoba Canada		2.100		09/06/22		14,315
	12,700,000	e	Province of Manitoba Canada		3.050		05/14/24		12,481
	5,000,000		Province of Ontario Canada		4.400		04/14/20		5,105
	10,000,000		Province of Quebec Canada		3.500		07/29/20		10,087
	10,000,000	e	Province of Quebec Canada		2.750		04/12/27		9,513
	5,000,000		Province of Quebec Canada		7.500		09/15/29		6,801
			TOTAL FOREIGN GOVERNMENT BONDS						543,051
MORTGAGE BACKED - 6.2%
	11,119,902		Federal Home Loan Mortgage Corp (FHLMC)		3.500		08/15/43		11,137
	4,397,160		FHLMC		3.000		03/15/44		4,257
	9,428,496		FHLMC		3.500		09/15/44		9,346
	9,534,984	i	FHLMC	LIBOR 1 M + 6.470%	8.731		06/15/48		9,898
	7,300,000	i	FHLMC	LIBOR 1 M + 6.400%	8.661		10/15/48		7,300
	17,872		Federal Home Loan Mortgage Corp Gold (FGLMC)		7.000		10/01/20		18
	3,032		FGLMC		7.000		05/01/23		3
	4,636,946		FGLMC		3.500		03/01/27		4,665
	13,842		FGLMC		8.000		01/01/31		15
	265,834		FGLMC		4.500		07/01/33		276
	349,105		FGLMC		5.500		09/01/33		372
	470,201		FGLMC		5.500		09/01/33		506
	666,345		FGLMC		5.500		12/01/33		722
	1,830,842		FGLMC		7.000		12/01/33		2,068
	572,796		FGLMC		7.000		05/01/35		642
	1,293,134		FGLMC		5.000		06/01/36		1,373
	408,236		FGLMC		5.000		07/01/39		434
	674,122		FGLMC		4.500		10/01/44		704
	703,563		FGLMC		4.500		11/01/44		735
	1,020,855		FGLMC		4.500		11/01/44		1,067
	386,300		FGLMC		4.500		12/01/44		401
	632,572		FGLMC		4.500		12/01/44		661
	2,543,696		FGLMC		3.500		04/01/45		2,515
	23,521,122		FGLMC		3.500		10/01/45		23,251

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	11,299,535		FGLMC	4.000	%	12/01/45	$	11,488
	36,419,306		FGLMC	3.500		08/01/46		36,051
	18,758,415		FGLMC	3.000		01/01/47		17,960
	27,629,515		FGLMC	3.000		02/01/47		26,463
	1,047,235		FGLMC	4.500		06/01/47		1,102
	2,597,701		FGLMC	4.000		09/01/47		2,660
	9,044,064		FGLMC	3.500		03/01/48		8,928
	14,962,400		FGLMC	4.000		03/01/48		15,204
	3,663,662	h	FGLMC	4.000		07/01/48		3,722
	11,302,264		FGLMC	4.500		08/01/48		11,791
	7,000,000		Federal National Mortgage Association (FNMA)	1.625		01/21/20		6,900
	15,327		FNMA	8.000		07/01/24		17
	18,500,000	i	FNMA	2.878		02/25/27		17,520
	7,637,631		FNMA	3.500		02/01/32		7,686
	3,272,936		FNMA	3.500		05/01/32		3,302
	8,339,283		FNMA	3.500		07/01/32		8,392
	232,984		FNMA	6.500		07/01/32		258
	6,150,384		FNMA	3.000		11/01/32		6,081
	1,135,590		FNMA	5.500		03/01/34		1,227
	3,392,866		FNMA	5.000		05/01/35		3,602
	2,162,373		FNMA	5.000		10/01/35		2,297
	1,637,362		FNMA	5.000		02/01/36		1,739
	842,710		FNMA	5.500		08/01/37		910
	515,987		FNMA	6.000		09/01/37		571
	352,309		FNMA	6.000		09/01/37		383
	90,055		FNMA	6.500		09/01/37		100
	522,635		FNMA	5.500		01/01/38		564
	17,227		FNMA	6.500		02/01/38		19
	1,539,984		FNMA	5.500		04/01/38		1,657
	2,010,921		FNMA	5.500		11/01/38		2,152
	3,193,510		FNMA	5.500		12/01/38		3,477
	26,077		FNMA	4.500		04/01/39		27
	893,660		FNMA	5.500		08/01/39		969
	30,036		FNMA	4.500		02/01/40		31
	381,035		FNMA	5.000		08/01/40		405
	1,727,778		FNMA	5.000		09/01/40		1,838
	115,487		FNMA	4.500		11/01/40		120
	208,101		FNMA	4.500		01/01/41		217
	134,613		FNMA	4.500		02/01/41		139
	2,843,227		FNMA	5.000		05/01/41		3,026
	198,443		FNMA	4.500		06/01/41		206
	199,850		FNMA	4.500		06/01/41		208
	476,294		FNMA	5.000		06/01/41		504
	1,515,699		FNMA	5.000		07/01/41		1,613
	282,482		FNMA	4.500		12/01/41		292
	8,946,168		FNMA	5.500		12/01/41		9,876
	214,171		FNMA	4.500		01/01/42		223
	188,566		FNMA	4.500		04/01/42		196
	1,569,475		FNMA	4.500		04/01/42		1,633
	205,415		FNMA	4.500		06/01/42		213
	2,199,743		FNMA	4.500		06/01/42		2,287
	172,855		FNMA	4.500		07/01/42		180
	836,417		FNMA	4.500		06/01/44		869
	9,543,269		FNMA	4.500		06/01/44		9,914

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,235,788		FNMA	4.500	%	08/01/44	$	2,323
	5,123,966		FNMA	4.500		10/01/44		5,322
	10,004,075		FNMA	4.500		11/01/44		10,391
	2,171,637		FNMA	4.500		12/01/44		2,256
	11,817,368		FNMA	3.000		02/25/45		11,606
	3,439,475		FNMA	3.000		02/25/45		3,370
	371,277		FNMA	3.500		03/01/45		367
	260,723		FNMA	3.500		03/01/45		258
	572,661		FNMA	4.500		03/01/45		595
	3,619,143		FNMA	3.000		03/25/45		3,538
	673,353		FNMA	4.500		04/01/45		706
	9,077,448		FNMA	3.500		04/25/45		9,056
	14,718,555		FNMA	3.500		04/25/45		14,663
	5,111,721		FNMA	3.500		05/01/45		5,064
	25,848,323		FNMA	3.000		12/25/45		24,987
	8,056,388		FNMA	3.500		01/01/46		7,963
	9,748,377		FNMA	4.000		01/01/46		9,915
	9,997,936		FNMA	3.500		06/01/46		9,876
	2,828,311		FNMA	3.500		08/01/46		2,795
	2,616,595		FNMA	3.000		10/01/46		2,506
	7,290,194		FNMA	3.500		10/01/46		7,198
	18,023,555		FNMA	3.500		12/01/46		17,787
	49,068,280		FNMA	3.500		01/01/47		48,417
	4,091,687		FNMA	3.000		02/01/47		3,919
	733,361		FNMA	3.500		12/01/47		722
	6,034,040		FNMA	4.500		01/01/48		6,287
	5,141,907		FNMA	4.500		02/01/48		5,359
	58,641,447		FNMA	3.000		02/25/48		56,714
	6,397,388		FNMA	4.000		03/01/48		6,500
	22,101,626		FNMA	4.500		03/01/48		23,040
	58,267,071		FNMA	4.000		04/01/48		58,865
	4,367,711		FNMA	4.500		05/01/48		4,555
	3,357,566	h	FNMA	4.500		05/01/48		3,501
	7,970,040		FNMA	5.000		08/01/48		8,494
	9,094		Government National Mortgage Association (GNMA)	6.500		08/15/23		10
	4,801		GNMA	6.500		08/15/23		5
	5,040,777		GNMA	2.580		08/15/25		4,842
	64,668		GNMA	6.500		05/20/31		73
	7,741,691		GNMA	2.640		01/15/33		7,526
	10,881,329		GNMA	2.690		06/15/33		10,029
	8,797,978		GNMA	3.700		10/15/33		8,790
	63,920		GNMA	6.000		10/20/36		70
	74,008		GNMA	6.000		01/20/37		81
	425,494		GNMA	6.000		02/20/37		465
	184,511		GNMA	5.000		04/15/38		196
	116,694		GNMA	6.000		08/20/38		127
	261,935		GNMA	6.500		11/20/38		293
	23,630		GNMA	4.500		02/20/39		25
	8,187,208		GNMA	3.700		08/15/40		8,178
	33,388		GNMA	4.500		08/20/41		35
	115,237		GNMA	4.500		09/20/41		122
	26,064		GNMA	4.500		01/20/44		28
	26,165		GNMA	4.500		02/20/44		28

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	50,315		GNMA	4.500	%	05/20/44	$	53
	326,353		GNMA	4.500		05/20/44		344
	369,062		GNMA	4.500		08/20/44		390
	322,249		GNMA	4.500		09/20/44		336
	139,990		GNMA	4.500		10/20/44		147
	86,120		GNMA	4.500		11/20/44		90
	228,297		GNMA	4.500		12/20/44		241
	353,131		GNMA	4.500		02/20/45		373
	428,067		GNMA	4.500		08/20/45		452
	407,835		GNMA	4.500		08/20/45		428
	400,814		GNMA	4.500		12/20/45		422
	18,036,223		GNMA	3.000		12/20/47		17,481
	44,040,562		GNMA	3.500		12/20/47		43,825
	26,954,577		GNMA	3.000		01/20/48		26,124
	40,873,425		GNMA	3.500		01/20/48		40,674
	10,552,498		GNMA	4.000		07/20/48		10,739
			TOTAL MORTGAGE BACKED					883,532
MUNICIPAL BONDS - 4.8%
	3,340,000		Antelope Valley-East Kern Water Agency Financing Authority	4.326		06/01/36		3,330
	4,500,000	g	Basin Electric Power Coop	6.127		06/01/41		4,943
	3,790,000		Bay Area Water Supply & Conservation Agency	2.535		10/01/21		3,701
	2,635,000		Bay Area Water Supply & Conservation Agency	3.015		10/01/24		2,545
	1,170,000		Brunswick & Glynn County Development Authority	3.060		04/01/25		1,136
	3,135,300		California Earthquake Authority	2.805		07/01/19		3,135
	13,000,000		California Housing Finance Agency	2.966		08/01/22		12,757
	6,080,000	g	California Pollution Control Financing Authority	5.000		07/01/27		6,234
	7,930,000	g	California Pollution Control Financing Authority	5.000		07/01/37		7,981
	2,470,000	g	California Pollution Control Financing Authority	5.000		11/21/45		2,498
	3,380,000		Chicago Board of Education	5.000		12/01/20		3,473
	14,000,000		Chicago Housing Authority	4.361		01/01/38		13,687
	9,700,000		Chicago Metropolitan Water Reclamation District-Greater Chicago	5.720		12/01/38		11,710
	3,500,000		City & County Honolulu HI Wastewater System Revenue	3.200		07/01/26		3,417
	5,645,000		City & County of Honolulu HI	3.974		09/01/35		5,619
	1,615,000		City & County of Honolulu HI	4.004		09/01/36		1,610
	3,035,000		City & County of Honolulu, HI	2.668		10/01/27		2,826
	1,250,000		City & County of Honolulu, HI	6.114		07/01/29		1,281
	7,085,000		City & County of San Francisco CA	4.000		04/01/47		6,679
	5,500,000		City & County of San Francisco CA	4.000		09/01/48		5,257
	8,850,000		City of Austin TX Water & Wastewater System Revenue	1.933		05/15/19		8,800
	2,750,000		City of Austin TX Water & Wastewater System Revenue	2.133		11/15/19		2,725
	6,500,000		City of Chicago IL	7.750		01/01/42		6,966
	7,280,000		City of Cincinnati OH Water System Revenue	2.568		12/01/21		7,154
	475,000		City of Eugene, OR	6.320		08/01/22		512
	1,250,000		City of Florence SC	4.250		12/01/34		1,235
	1,000,000		City of Houston TX Combined Utility System Revenue	3.375		11/15/24		997
	1,275,000		City of Houston TX Combined Utility System Revenue	4.172		11/15/38		1,278
	12,500,000		City of Houston TX Utility System Revenue	2.563		05/15/20		12,419
	925,000		City of Jersey City NJ	2.423		09/01/19		919
	5,145,000		City of Los Angeles CA	3.320		09/01/24		5,123
	5,145,000		City of Los Angeles CA	3.450		09/01/25		5,131
	7,500,000		City of Los Angeles CA	3.880		09/01/38		7,238

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,010,000		City of Norfolk VA	3.000	%	10/01/35	$	2,653
	3,665,000		City of Norfolk VA	3.050		10/01/36		3,214
	3,345,000		City of San Francisco CA Public Utilities Commission Water Revenue	3.000		11/01/26		3,165
	3,725,000		City of San Francisco CA Public Utilities Commission Water Revenue	3.950		11/01/36		3,673
	18,500,000		City of San Francisco CA Public Utilities Commission Water Revenue	4.185		11/01/46		18,714
	1,000,000		City of San Juan Capistrano CA	3.700		08/01/31		984
	1,000,000		Commonwealth Financing Authority	2.675		06/01/21		981
	1,150,000		Commonwealth Financing Authority	2.875		06/01/22		1,123
	2,310,000		Commonwealth Financing Authority	3.075		06/01/23		2,250
	2,730,000		Commonwealth Financing Authority	3.864		06/01/38		2,630
	7,650,000		County of Alameda CA	3.820		08/01/38		7,359
	1,500,000		County of Miami-Dade FL Aviation Revenue	2.218		10/01/22		1,434
	15,000,000		District of Columbia Water & Sewer Authority	4.814		10/01/14		16,322
	770,000		Fiscal Year 2005 Securitization Corp	4.760		08/15/19		782
	9,000,000		Florida State Board of Administration Finance Corp	2.163		07/01/19		8,969
	15,630,000	j	Garden State Preservation Trust	0.000		11/01/22		14,038
	1,000,000		Grant County Public Utility District No 2	5.470		01/01/34		1,062
	1,250,000		Grant County Public Utility District No 2	4.164		01/01/35		1,256
	4,135,000		Greene County OH	2.720		12/01/21		4,094
	4,365,000		Greene County OH	3.120		12/01/23		4,368
	4,615,000		Greene County OH	3.270		12/01/24		4,623
	4,755,000		Greene County OH	3.420		12/01/25		4,768
	1,400,000		Guadalupe Valley Electric Coop, Inc	5.671		10/01/32		1,467
	975,000		Guadalupe-Blanco River Authority Industrial Development Corp	3.287		04/15/23		971
	5,125,000		Imperial Irrigation District Electric System Revenue	4.500		11/01/40		5,285
	2,000,000		Kern County Water Agency Improvement District No 4	4.276		05/01/36		2,016
	540,000		Lavaca-Navidad River Authority	3.850		08/01/26		543
	6,430,000		Lavaca-Navidad River Authority	4.430		08/01/35		6,510
	3,725,000		Maryland Community Development Administration Housing Revenue	3.797		03/01/39		3,470
	230,000		Massachusetts Housing Finance Agency	4.782		12/01/20		232
	4,650,000		Massachusetts St. Water Pollution Abatement	5.192		08/01/40		5,051
	3,500,000		Metropolitan Council	1.750		09/01/20		3,415
	5,000,000		Metropolitan Water District of Southern California	6.250		07/01/39		5,122
	8,000,000		Michigan Finance Authority	5.000		07/01/22		8,726
	500,000		Michigan Finance Authority	5.000		07/01/22		540
	8,945,000		Michigan Finance Authority	5.000		07/01/22		9,757
	2,500,000		Michigan Finance Authority	5.000		07/01/30		2,740
	2,000,000		Michigan Finance Authority	5.000		07/01/31		2,183
	8,500,000		New Jersey Economic Development Authority	4.271		06/15/20		8,594
	7,400,000		New Jersey Economic Development Authority	5.706		06/15/30		7,970
	3,000,000		New Jersey Economic Development Authority	5.756		06/15/31		3,231
	3,375,000		New Mexico Finance Authority	4.090		06/15/38		3,356
	1,590,000		New York State Energy Research & Development Authority	2.372		07/01/19		1,584
	1,285,000		New York State Energy Research & Development Authority	2.772		07/01/20		1,281
	1,590,000		New York State Energy Research & Development Authority	3.206		07/01/22		1,589

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	1,200,000		New York State Environmental Facilities Corp		2.005	%	06/15/19	$	1,193
	1,220,000		New York State Environmental Facilities Corp		2.595		06/15/21		1,196
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,235
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,207
	2,120,000		New York State Environmental Facilities Corp		3.520		07/15/27		2,105
	680,000		New York State Urban Development Corp		6.500		12/15/18		686
	17,500,000		New York Transportation Development Corp		5.000		01/01/26		19,451
	4,750,000		Northern California Power Agency		4.320		07/01/24		4,797
	4,760,000		Ohio State Water Development Authority		4.879		12/01/34		5,128
	700,000		Oklahoma Water Resources Board		3.071		04/01/22		697
	13,250,000	g	Oregon State Business Development Commission		6.500		04/01/31		13,072
	2,500,000		Palm Beach County Solid Waste Authority		2.636		10/01/24		2,398
	1,000,000		Pend Oreille County Public Utility District No Box Canyon		3.037		01/01/19		999
	1,070,000		Pend Oreille County Public Utility District No Box Canyon		3.621		01/01/21		1,058
	4,500,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/30		4,530
	1,000,000		Sacramento Area Flood Control Agency		2.699		10/01/22		969
	435,000		San Francisco City & County Redevelopment Agency		3.113		08/01/22		428
	2,000,000		San Francisco City & County Redevelopment Agency		4.375		08/01/44		1,972
	2,920,000		South Dakota Conservancy District		1.898		08/01/19		2,901
	38,830,000		State of California		3.750		10/01/37		39,689
	11,565,000		State of California		4.600		04/01/38		11,998
	10,050,000		State of California		4.988		04/01/39		10,618
	2,000,000	i	State of California		2.193		04/01/47		1,973
	4,400,000	i	State of California	LIBOR 1 M + 0.780%	2.889		04/01/47		4,426
	10,500,000		State of Illinois		5.000		02/01/19		10,583
	9,800,000		State of Illinois		5.000		02/01/20		10,061
	8,000,000		State of Illinois		5.000		02/01/22		8,346
	9,000,000		State of Illinois		5.520		04/01/38		8,416
	1,500,000		State of Louisiana		1.769		08/01/20		1,468
	4,505,000		State of Michigan		3.375		12/01/20		4,525
	4,405,000		State of Michigan		3.590		12/01/26		4,422
	2,500,000		State of Ohio		5.412		09/01/28		2,869
	2,500,000		State of Texas		2.749		10/01/23		2,441
	5,000,000		State of Texas		6.072		10/01/29		5,151
	2,025,000		State of Texas		3.576		08/01/34		1,946
	3,370,000		State of Texas		3.726		08/01/43		3,280
	3,000		State of Wisconsin		5.700		05/01/26		3
	4,000,000		Suffolk County Water Authority		4.000		06/01/39		4,135
	1,650,000		Syracuse Industrial Development Agency		5.000		01/01/36		1,605
	2,280,000		Tampa Bay Water		2.612		10/01/25		2,141
	3,225,000		Tampa Bay Water		2.782		10/01/26		3,042
	3,000,000		Tampa Bay Water		2.952		10/01/27		2,850
	1,255,000		Texas Water Development Board		4.248		10/15/35		1,276
	5,880,000	h	Texas Water Development Board		4.340		10/15/48		5,886
	4,170,000		Texas Water Development Board		4.648		04/15/50		4,314
	5,000,000		Tuolumne Wind Project Authority		6.918		01/01/34		6,007
	3,035,000		University of California		3.809		05/15/28		3,017
	11,400,000		University of California		4.009		05/15/30		11,435
	1,000,000		University of Cincinnati		3.250		06/01/29		995
	1,560,000		University of Cincinnati		3.650		06/01/34		1,551
	1,615,000		University of Cincinnati		3.700		06/01/35		1,611

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	18,000,000		University of New Mexico		3.532	%	06/20/32	$	17,475
	17,500,000		University of Virginia		3.570		04/01/45		17,147
	5,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/42		5,026
	3,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/46		3,008
	12,710,000	g	Virgin Islands Water & Power Authority-Electric System		5.500		11/15/18		12,693
	1,000,000		Washington County Clean Water Services		5.078		10/01/24		1,077
	695,000		Water Works Board of the City of Birmingham		1.509		01/01/19		693
	2,470,000		Water Works Board of the City of Birmingham		1.788		01/01/20		2,430
	3,750,000		Water Works Board of the City of Birmingham		1.988		01/01/21		3,637
	3,100,000		Water Works Board of the City of Birmingham		2.192		01/01/22		2,978
	600,000		West Virginia Water Development Authority		5.000		11/01/21		648
	1,345,000		West Virginia Water Development Authority		5.000		11/01/22		1,480
	1,000,000		West Virginia Water Development Authority		5.000		11/01/23		1,121
			TOTAL MUNICIPAL BONDS						675,926
U.S. TREASURY SECURITIES - 2.2%
	6,000,000		United States Treasury Bond		3.125		02/15/43		5,926
	1,000,000		United States Treasury Bond		3.375		05/15/44		1,031
	66,090,000		United States Treasury Bond		2.875		11/15/46		62,130
	88,925,000		United States Treasury Bond		3.000		05/15/47		85,604
	12,815,000		United States Treasury Bond		3.125		05/15/48		12,638
	2,750,000		United States Treasury Note		1.250		04/30/19		2,731
	40,000		United States Treasury Note		1.375		09/30/19		39
	5,750,000		United States Treasury Note		1.625		03/15/20		5,658
	1,000,000		United States Treasury Note		2.625		08/31/20		996
	13,285,000		United States Treasury Note		1.375		05/31/21		12,779
	1,980,000		United States Treasury Note		2.750		09/15/21		1,973
	4,150,000		United States Treasury Note		2.000		07/31/22		4,012
	4,500,000		United States Treasury Note		1.750		09/30/22		4,301
	12,234,500		United States Treasury Note		1.625		11/15/22		11,616
	37,880,000		United States Treasury Note		2.750		08/31/23		37,551
	2,500,000		United States Treasury Note		2.250		10/31/24		2,398
	21,350,000		United States Treasury Note		2.125		11/30/24		20,310
	4,500,000		United States Treasury Note		2.750		02/28/25		4,436
	5,560,000		United States Treasury Note		2.750		06/30/25		5,472
	18,750,000		United States Treasury Note		2.750		08/31/25		18,443
	13,364,000		United States Treasury Note		2.875		08/15/28		13,161
			TOTAL U.S. TREASURY SECURITIES						313,205
			TOTAL GOVERNMENT BONDS						2,976,895
			(Cost $3,034,607)
STRUCTURED ASSETS - 3.9%
ASSET BACKED - 1.7%
	4,000,000	g	Capital Automotive REIT		3.660		10/15/44		3,939
			Series - 2014 1A (Class A)
	3,943,333	g	Capital Automotive REIT		3.870		04/15/47		3,896
			Series - 2017 1A (Class A1)
	736,224	i	C-BASS Trust	LIBOR 1 M + 0.080%	2.296		07/25/36		725
			Series - 2006 CB6 (Class A1)

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	4,001,302	i	Chase Funding Loan Acquisition Trust	LIBOR 1 M + 0.855%	3.071	%	06/25/34	$	3,898
			Series - 2004 OPT1 (Class M1)
	2,977,500	g	DB Master Finance LLC		3.629		11/20/47		2,901
			Series - 2017 1A (Class A2I)
	879,750	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		886
			Series - 2015 1A (Class A2II)
	11,979,000	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		11,570
			Series - 2017 1A (Class A2II)
	1,596,000	g	Domino’s Pizza Master Issuer LLC		4.116		07/25/48		1,586
			Series - 2018 1A (Class A2I)
	8,633,560	†,g	HERO Funding Trust		3.840		09/21/40		8,910
			Series - 2015 1A (Class A)
	2,029,687	†,g	HERO Funding Trust		3.990		09/21/40		2,077
			Series - 2014 2A (Class A)
	4,176,569	g	HERO Funding Trust		3.750		09/20/41		4,130
			Series - 2016 2A (Class A)
	3,988,829	g	HERO Funding Trust		4.050		09/20/41		4,004
			Series - 2016 1A (Class A)
	1,559,127	g	HERO Funding Trust		3.080		09/20/42		1,505
			Series - 2016 3A (Class A1)
	9,929,967	g	HERO Funding Trust		3.710		09/20/47		9,787
			Series - 2017 1A (Class A1)
	10,325,277	g	HERO Funding Trust		3.190		09/20/48		9,911
			Series - 2017 3A (Class A1)
	2,466,250	g	HERO Funding Trust		3.280		09/20/48		2,414
			Series - 2017 2A (Class A1)
	11,342,143	g	HERO Funding Trust		4.670		09/20/48		11,588
			Series - 2018 1A (Class A2)
	760,329	†,g	HERO Residual Funding		4.500		09/21/42		757
			Series - 2016 1R (Class A1)
	2,800,000	g	Houston Galleria Mall Trust		3.087		03/05/37		2,686
			Series - 2015 HGLR (Class A1A2)
	7,882,076	g	Mosaic Solar Loans LLC		3.820		06/22/43		7,759
			Series - 2017 2A (Class A)
	2,953,946	g	MVW Owner Trust		2.420		12/20/34		2,858
			Series - 2017 1A (Class A)
	7,000,000	g,i	Navient Student Loan Trust	LIBOR 1 M + 0.250%	2.389		06/27/67		7,001
			Series - 2018 4A (Class A1)
	5,443,519	g	Renew		3.670		09/20/52		5,358
			Series - 2017 1A (Class A)
	12,397,691	g	Renew		3.950		09/20/53		12,333
			Series - 2018 1 (Class A)
	469,962		Santander Drive Auto Receivables Trust		2.740		12/15/21		470
			Series - 2015 5 (Class C)
	463,722	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		457
			Series - 2015 3A (Class A)
	328,106	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		325
			Series - 2015 3A (Class B)
	4,999,329	g	SolarCity LMC		4.590		04/20/44		5,005
			Series - 2014 1 (Class A)
	24,387,159	g	SolarCity LMC		4.020		07/20/44		23,899
			Series - 2014 2 (Class A)
	4,798,915	g	SolarCity LMC		4.800		09/20/48		4,847
			Series - 2016 A (Class A)

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	2,584,100	g	SpringCastle America Funding LLC		3.050	%	04/25/29	$	2,573
			Series - 2016 AA (Class A)
	2,837,479	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%	3.604		04/25/35		2,777
			Series - 2005 7XS (Class 2A1A)
	11,841,444	g	TES LLC		4.330		10/20/47		11,565
			Series - 2017 1A (Class A)
	2,500,000	g	TES LLC		7.740		10/20/47		2,518
			Series - 2017 1A (Class B)
	9,766,445	g	TES LLC		4.120		02/20/48		9,467
			Series - 2017 2A (Class A)
	13,740,677	g	Tesla Auto Lease Trust		2.320		12/20/19		13,704
			Series - 2018 A (Class A)
	9,155,324		Toyota Auto Receivables Owner Trust		1.300		04/15/20		9,115
			Series - 2016 B (Class A3)
	15,809,779		Toyota Auto Receivables Owner Trust		1.740		09/15/20		15,780
			Series - 2015 B (Class A4)
	15,000,000	g	Vivint Colar Financing V LLC		4.730		04/30/48		14,870
			Series - 2018 1A (Class A)
	2,132,103	g	VOLT LXIII LLC (Step Bond)		3.000		10/25/47		2,108
			Series - 2017 NP10 (Class A1)
	4,500,000	g	VOLT LXIII LLC (Step Bond)		4.625		10/25/47		4,456
			Series - 2017 NP10 (Class A2)
	278,835	g	Wachovia Amortization Controlled Heloc NIM		5.683		08/12/47		273
			Series - 2006 N1 (Class N1)
	110,477	g,i	Wachovia Loan Trust	LIBOR 1 M + 0.360%	2.576		05/25/35		110
			Series - 2005 SD1 (Class A)
	2,977,500	g	Wendys Funding LLC		3.573		03/15/48		2,865
			Series - 2018 1A (Class A2I)
			TOTAL ASSET BACKED						249,663
OTHER MORTGAGE BACKED - 2.2%
	2,000,000	g,i	Banc of America Commercial Mortgage Trust		6.038		02/10/51		749
			Series - 2007 5 (Class B)
	5,000,000	g,i	Bancorp Commercial Mortgage Trust	LIBOR 1 M + 0.900%	3.070		09/15/35		5,000
			Series - 2018 CRE4 (Class A)
	12,500,000	g	BBCMS Trust		3.593		09/15/32		12,476
			Series - 2015 MSQ (Class A)
	6,000,000	g	BBCMS Trust		3.894		09/15/32		5,979
			Series - 2015 MSQ (Class B)
	5,440,000	g,i	BBCMS Trust		4.409		08/05/38		4,696
			Series - 2018 CHRS (Class E)
	5,000,000	g	BWAY Mortgage Trust		2.917		01/10/35		4,803
			Series - 2015 1740 (Class A)
	2,000,000	i	CD Commercial Mortgage Trust		3.879		11/10/49		1,966
			Series - 2016 CD2 (Class B)
	5,000,000	g,i	Cityline Commercial Mortgage Trust		2.871		11/10/31		4,819
			Series - 2016 CLNE (Class A)
	3,745,813	i	COBALT CMBS Commercial Mortgage Trust		6.015		05/15/46		3,812
			Series - 2007 C3 (Class AJ)
	2,750,000	g,i	COMM Mortgage Trust		3.528		10/10/29		2,671
			Series - 2017 PANW (Class B)
	7,500,000	g,i	COMM Mortgage Trust		3.712		10/10/29		7,214
			Series - 2017 PANW (Class C)

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	10,761,000	g	COMM Mortgage Trust		3.544	%	03/10/31	$	10,890
			Series - 2013 WWP (Class C)
	925,000	g,i	COMM Mortgage Trust		4.972		08/10/46		958
			Series - 2013 CR10 (Class B)
	2,857,854	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%	5.216		07/25/24		3,064
			Series - 2014 C03 (Class 1M2)
	5,000,000	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%	6.466		01/25/29		5,640
			Series - 2016 C04 (Class 1M2)
	2,250,000	i	Connecticut Avenue Securities	LIBOR 1 M + 4.450%	6.666		01/25/29		2,519
			Series - 2016 C05 (Class 2M2)
	2,116,259	i	Connecticut Avenue Securities	LIBOR 1 M + 0.950%	3.166		10/25/29		2,129
			Series - 2017 C03 (Class 1M1)
	787,696	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%	3.066		11/25/29		790
			Series - 2017 C04 (Class 2M1)
	19,896	i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%	2.966		02/25/30		20
			Series - 2017 C06 (Class 1M1)
	2,670,802	i	Connecticut Avenue Securities	LIBOR 1 M + 0.600%	2.816		07/25/30		2,674
			Series - 2018 C01 (Class 1M1)
	1,750,000	i	Connecticut Avenue Securities	LIBOR 1 M + 3.550%	5.766		07/25/30		1,794
			Series - 2018 C01 (Class 1B1)
	6,000,000	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%	3.965		08/25/30		6,077
			Series - 2018 C02 (Class 2M2)
	2,000,000	i	Connecticut Avenue Securities	LIBOR 1 M + 4.000%	5.897		08/25/30		2,055
			Series - 2018 C02 (Class 2B1)
	2,590,007	i	Connecticut Avenue Securities	LIBOR 1 M + 0.680%	2.896		10/25/30		2,595
			Series - 2018 C03 (Class 1M1)
	319,523	i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%	2.966		12/25/30		320
			Series - 2018 C04 (Class 2M1)
	1,816,134	i	Connecticut Avenue Securities	LIBOR 1 M + 0.720%	2.936		01/25/31		1,819
			Series - 2018 C05 (Class 1M1)
	2,000,000	g	Credit Suisse Mortgage Capital Certificates		5.626		05/15/23		2,038
			Series - 2006 OMA (Class D)
	8,750,000	g,i	CSAIL Commercial Mortgage Trust		3.800		06/15/37		8,432
			Series - 2017 C8 (Class 85BB)
	6,650,000	g,i	CSAIL Commercial Mortgage Trust		3.800		06/15/37		6,446
			Series - 2017 C8 (Class 85BA)
	5,000,000	g,i	CSMC Trust		3.854		11/10/32		4,919
			Series - 2017 CALI (Class B)
	1,715,000	g,i	DBUBS Mortgage Trust		5.884		11/10/46		1,795
			Series - 2011 LC1A (Class C)
	3,500,000	i	Federal National Mortgage Association (FNMA)		3.436		06/25/28		3,416
			Series - 2018 M8 (Class A2)
	7,075,919	g,i	Flagstar Mortgage Trust		4.000		05/25/48		7,040
			Series - 2018 3INV (Class A3)
	1,500,000	g,i	Flagstar Mortgage Trust		4.000		09/25/48		1,479
			Series - 2018 5 (Class A11)
	3,660,000	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		3,654
			Series - 2004 C3 (Class C)
	10,000,000	g	GRACE Mortgage Trust		3.369		06/10/28		10,004
			Series - 2014 GRCE (Class A)
	2,535,000	g,i	GS Mortgage Securities Corp II		5.354		12/10/43		2,609
			Series - 2010 C2 (Class B)
	1,516,074	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%	2.788		08/19/45		1,512
			Series - 2005 11 (Class 2A1A)

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	5,000,000	g	Hudson Yards Mortgage Trust		2.835	%	08/10/38	$	4,660
			Series - 2016 10HY (Class A)
	5,000,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		4,601
			Series - 2016 10HY (Class C)
	5,000,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		4,652
			Series - 2016 10HY (Class B)
	364,195	i	Impac CMB Trust	LIBOR 1 M + 0.660%	2.876		03/25/35		357
			Series - 2004 11 (Class 2A1)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.583		07/15/46		3,146
			Series - 2011 C4 (Class C)
	9,921,656	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%	2.376		06/25/37		9,735
			Series - 2007 CH5 (Class A1)
	2,675,000	g,i	JP Morgan Mortgage Trust		4.000		09/25/40		2,641
			Series - 2018 9 (Class A13)
	613,474	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		590
			Series - 0 3 (Class A19)
	1,085,034	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		1,044
			Series - 0 6 (Class A13)
	1,252,720	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		1,205
			Series - 0 1 (Class A13)
	183,211	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		180
			Series - 2017 1 (Class A3)
	5,330,912	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		5,172
			Series - 2017 2 (Class A3)
	765,376	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		744
			Series - 2017 2 (Class A13)
	2,232,333	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		2,198
			Series - 2017 3 (Class 1A5)
	3,436,789	g,i	JP Morgan Mortgage Trust		3.000		12/25/48		3,326
			Series - 2017 6 (Class A6)
	2,165,248	g,i	JP Morgan Mortgage Trust		3.500		12/25/48		2,130
			Series - 2018 6 (Class 1A3)
	1,629,809	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		1,609
			Series - 2018 8 (Class A13)
	35,747	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		36
			Series - 2007 C6 (Class AM)
	4,000,000	g,i	MAD Mortgage Trust		3.478		08/15/34		3,869
			Series - 2017 330M (Class B)
	1,252,831	i	ML-CFC Commercial Mortgage Trust		5.526		03/12/51		1,258
			Series - 2007 6 (Class AM)
	21,000,000	g	Morgan Stanley Capital I Trust		3.350		07/13/29		20,991
			Series - 2014 CPT (Class A)
	717,105	i	Morgan Stanley Capital I Trust		5.389		11/12/41		714
			Series - 2006 HQ10 (Class AJ)
	143,868	i	Morgan Stanley Capital I Trust		6.367		10/15/42		144
			Series - 2006 IQ11 (Class AJ)
	466,796	i	Morgan Stanley Capital I Trust		6.328		06/11/49		471
			Series - 2007 IQ15 (Class AJ)
	1,906,057	i	Morgan Stanley Capital I Trust		6.358		12/12/49		1,443
			Series - 2007 IQ16 (Class AJFX)
	5,000,000	g,i	MSDB Trust		3.427		07/11/39		4,812
			Series - 2017 712F (Class A)
	15,780,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 0.784%	2.942		07/15/33		15,682
			Series - 2018 850T (Class A)

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	17,385,000	g	OBP Depositor LLC Trust		4.646	%	07/15/45	$	17,722
			Series - 2010 OBP (Class A)
	840,222	g,i	Sequoia Mortgage Trust		3.500		11/25/46		830
			Series - 2016 3 (Class A10)
	4,243,959	g,i	Sequoia Mortgage Trust		3.000		08/25/47		4,137
			Series - 2017 5 (Class A5)
	2,626,949	g,i	Sequoia Mortgage Trust		3.500		05/25/48		2,588
			Series - 2018 5 (Class A4)
	1,599,616	g,i	Sequoia Mortgage Trust		4.000		06/25/48		1,594
			Series - 2018 CH2 (Class A21)
	2,309,100	g,i	Sequoia Mortgage Trust		4.000		07/25/48		2,318
			Series - 0 6 (Class A4)
	550,796	g,i	Shellpoint Co-Originator Trust		3.500		11/21/46		542
			Series - 0 1 (Class 1A10)
	906,374	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.200%	4.416		03/25/25		909
			Series - 2015 HQ1 (Class M2)
	750,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 3.800%	6.016		03/25/25		802
			Series - 2015 HQ1 (Class M3)
	1,750,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.350%	3.566		03/25/29		1,776
			Series - 2016 HQA3 (Class M2)
	253,776	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.200%	3.416		07/25/29		256
			Series - 2017 DNA1 (Class M1)
	5,042,623	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.200%	3.416		10/25/29		5,099
			Series - 2017 DNA2 (Class M1)
	162,222	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 0.800%	1.959		12/25/29		163
			Series - 2017 HQA2 (Class M1)
	8,000,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 1.800%	4.016		07/25/30		7,949
			Series - 2018 DNA1 (Class M2)
	3,000,000	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 3.150%	5.366		07/25/30		2,934
			Series - 2018 DNA1 (Class B1)
	1,806,031	g,i	Structured Agency Credit Risk Debt Note (STACR)		3.820		05/25/48		1,805
			Series - 2018 SPI2 (Class M1)
	1,700,000	g,i	Structured Agency Credit Risk Debt Note (STACR)		4.168		08/25/48		1,706
			Series - 2018 SPI3 (Class M1)
	919,120	i	Wachovia Bank Commercial Mortgage Trust		6.343		05/15/46		935
			Series - 2007 C34 (Class AJ)
	3,000,000	i	Wachovia Bank Commercial Mortgage Trust		6.418		05/15/46		3,053
			Series - 2007 C34 (Class B)
	1,650,000	i	Wachovia Bank Commercial Mortgage Trust		6.418		05/15/46		1,686
			Series - 2007 C34 (Class C)
	877,354	i	Wachovia Bank Commercial Mortgage Trust		6.057		06/15/49		886
			Series - 2007 C32 (Class AJ)
			TOTAL OTHER MORTGAGE BACKED						307,973
			TOTAL STRUCTURED ASSETS						557,636
			(Cost $566,896)
			TOTAL BONDS						5,574,129
			(Cost $5,685,742)

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 59.4%
AUTOMOBILES & COMPONENTS - 0.9%
	44,701	*	American Axle & Manufacturing Holdings, Inc	$	779
	562	e	Autoliv, Inc		49
	127,696		Bayerische Motoren Werke AG.		11,504
	3,491		BorgWarner, Inc		149
	261,200		Bridgestone Corp		9,872
	77,183		Delphi Automotive plc		6,476
	203,582		Denso Corp		10,755
	97,691		Harley-Davidson, Inc		4,425
	508,180		Honda Motor Co Ltd		15,304
	386,000		Isuzu Motors Ltd		6,085
	163,362		Magna International, Inc		8,581
	56,903		Michelin (C.G.D.E.) (Class B)		6,792
	7,033	*	Modine Manufacturing Co		105
	13,300		NGK Spark Plug Co Ltd		388
	60,600	e	NOK Corp		1,040
	339,408		Peugeot S.A.		9,156
	100,987		Renault S.A.		8,735
	17,100		Stanley Electric Co Ltd		585
	137,000		Sumitomo Rubber Industries, Inc		2,057
	65,127	*,e	Tesla, Inc		17,244
	60,000	e	Toyoda Gosei Co Ltd		1,482
	40,640		Valeo S.A.		1,760
	334	*	Visteon Corp		31
	109,500		Yokohama Rubber Co Ltd		2,360
			TOTAL AUTOMOBILES & COMPONENTS		125,714
BANKS - 4.5%
	20,740		Ameris Bancorp		948
	46,091		Associated Banc-Corp		1,198
	788,346		Australia & New Zealand Banking Group Ltd		16,048
	4,941,434		Banca Intesa S.p.A.		12,590
	2,060		Bancfirst Corp		123
	1,929,911		Banco Bilbao Vizcaya Argentaria S.A.		12,236
	1,237,197		Banco de Sabadell S.A.		1,913
	817,660		Bank Hapoalim Ltd		5,987
	841,607		Bank Leumi Le-Israel		5,546
	2,806,484		Bank of America Corp		82,679
	1,030		Bank of Hawaii Corp		81
	190,229		Bank of Montreal		15,691
	309,455		Bank of Nova Scotia		18,445
	3,264		Bank OZK		124
	3,730		BankUnited		132
	2,405		Banner Corp		149
	563,957		BB&T Corp		27,374
	356		Bendigo Bank Ltd		3
	1,991,000		BOC Hong Kong Holdings Ltd		9,450
	900		BOK Financial Corp		88
	6,533		Brookline Bancorp, Inc		109
	8,589		Bryn Mawr Bank Corp		403
	1,795,908		CaixaBank S.A.		8,168
	19,106		Camden National Corp		830

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	87,694	e	Canadian Imperial Bank of Commerce	$	8,217
	9,281		Chemical Financial Corp		496
	643,938		Citizens Financial Group, Inc		24,837
	2,120		Columbia Banking System, Inc		82
	186,119		Comerica, Inc		16,788
	21,343		Commerce Bancshares, Inc		1,409
	410,761	*	Commerzbank AG.		4,268
	419,777		Commonwealth Bank of Australia		21,666
	889		Community Trust Bancorp, Inc		41
	9,015		Cullen/Frost Bankers, Inc		942
	35,598	*	Customers Bancorp, Inc		838
	622,793		DBS Group Holdings Ltd		11,881
	289,370		DNB NOR Holding ASA		6,090
	39,046	*	FCB Financial Holdings, Inc		1,851
	11,562		Federal Agricultural Mortgage Corp (Class C)		835
	271,685		Fifth Third Bancorp		7,585
	21,395		First Commonwealth Financial Corp		345
	6,726		First Financial Bancorp		200
	14,113	e	First Financial Bankshares, Inc		834
	1,399		First Financial Corp		70
	9,797		First Interstate Bancsystem, Inc		439
	14,541		First Merchants Corp		654
	35,610		First Republic Bank		3,419
	2,590		Glacier Bancorp, Inc		112
	5,441		Hancock Holding Co		259
	395,100		Hang Seng Bank Ltd		10,721
	16,503		Heartland Financial USA, Inc		958
	9,347		Heritage Financial Corp		329
	24,702	*	HomeStreet, Inc		655
	21,937	*	HomeTrust Bancshares, Inc		639
	4,198		Huntington Bancshares, Inc		63
	6,451		Independent Bank Corp (MA)		533
	1,029,939		ING Groep NV		13,368
	1,147		International Bancshares Corp		52
	125,286		KBC Groep NV		9,316
	1,096,081		Keycorp		21,801
	2,791		Live Oak Bancshares, Inc		75
	144,520		M&T Bank Corp		23,779
	1,800		MB Financial, Inc		83
	11,289	*	MGIC Investment Corp		150
	212,400		Mitsui Trust Holdings, Inc		8,739
	54,790		Mizrahi Tefahot Bank Ltd		959
	747,128		National Australia Bank Ltd		14,999
	6,694		National Bank Holdings Corp		252
	7,259		National Bank of Canada		363
	3,324		NBT Bancorp, Inc		128
	1,138,434		Nordea Bank AB		12,387
	54,855		Northfield Bancorp, Inc		873
	1,532		OceanFirst Financial Corp		42
	65,374	e	OFG Bancorp		1,056
	9,051		Old National Bancorp		175
	15,649		Opus Bank		429
	16,460		PacWest Bancorp		784
	14,998		People’s United Financial, Inc		257

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	22,319		Pinnacle Financial Partners, Inc	$	1,342
	294,577		PNC Financial Services Group, Inc		40,118
	820		Prosperity Bancshares, Inc		57
	988,195		Regions Financial Corp		18,133
	993,900		Resona Holdings, Inc		5,580
	590,050		Skandinaviska Enskilda Banken AB (Class A)		6,578
	1,259,931		Standard Chartered plc		10,439
	7,921		State Bank & Trust Co		239
	8,646		Stock Yards Bancorp, Inc		314
	370,800		Sumitomo Mitsui Financial Group, Inc		14,922
	29,312	*	SVB Financial Group		9,111
	601,343		Svenska Handelsbanken AB		7,584
	394,873		Swedbank AB (A Shares)		9,766
	800	*	Texas Capital Bancshares, Inc		66
	6,965		TFS Financial Corp		105
	50,351	*	The Bancorp, Inc		483
	413,390		Toronto-Dominion Bank		25,121
	2,462		Trico Bancshares		95
	17,930	*	Tristate Capital Holdings, Inc		495
	1,700		Trustmark Corp		57
	9,293		UMB Financial Corp		659
	33,564		Umpqua Holdings Corp		698
	19,739		Union Bankshares Corp		761
	10,301		United Bankshares, Inc		374
	5,260		Univest Corp of Pennsylvania		139
	14,406		Webster Financial Corp		849
	3,410		WesBanco, Inc		152
	3,019		Westamerica Bancorporation		182
	44,194	*	Western Alliance Bancorp		2,514
	896,061		Westpac Banking Corp		18,020
	1,110		Wintrust Financial Corp		94
	1,706		WSFS Financial Corp		80
	39,949		Zions Bancorporation		2,003
			TOTAL BANKS		635,568
CAPITAL GOODS - 4.6%
	252,071		3M Co		53,114
	15,208		A.O. Smith Corp		812
	575,120		ABB Ltd		13,604
	881		Acuity Brands, Inc		138
	533		AGCO Corp		32
	7,218		Air Lease Corp		331
	429		Allegion plc		39
	790		Altra Holdings, Inc		33
	14,787		Argan, Inc		636
	456	*	Armstrong World Industries, Inc		32
	167,764		Assa Abloy AB		3,363
	247,707		Atlas Copco AB (A Shares)		7,124
	235,823		Atlas Copco AB (B-Shares)		6,283
	4,544	*	Axon Enterprise, Inc		311
	68,269		Barnes Group, Inc		4,849
	2,120	*	Beacon Roofing Supply, Inc		77
	54,799		Brenntag AG.		3,380

398

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	13,142		Briggs & Stratton Corp	$	253
	73,289	*	Builders FirstSource, Inc		1,076
	160,557		Bunzl plc		5,048
	6,729		CAE, Inc		137
	574		Carlisle Cos, Inc		70
	258,513		Caterpillar, Inc		39,420
	10,312	*	Chart Industries, Inc		808
	677,057		CNH Industrial NV		8,125
	61,235		Cummins, Inc		8,945
	5,900	e	Daifuku Co Ltd		301
	89,000		Daikin Industries Ltd		11,846
	63,779		DCC plc		5,785
	159,422		Deere & Co		23,966
	888		Donaldson Co, Inc		52
	22,188		Dover Corp		1,964
	19,624	*	DXP Enterprises, Inc		786
	235,735		Eaton Corp		20,445
	14,474		Eiffage S.A.		1,617
	4,718		EMCOR Group, Inc		354
	128,117	*	Epiroc AB		1,431
	87,356	*	Epiroc AB		899
	78,795	*	Esterline Technologies Corp		7,166
	112,562		Fastenal Co		6,531
	121,375		Ferguson plc		10,295
	978		Flowserve Corp		53
	68,049	e	Fortive Corp		5,730
	856		Fortune Brands Home & Security, Inc		45
	3,384		Graco, Inc		157
	4,186		H&E Equipment Services, Inc		158
	38,009		Hexcel Corp		2,549
	115,000		Hino Motors Ltd		1,259
	97,900	e	Hitachi Construction Machinery Co Ltd		3,273
	18,003		Hochtief AG.		2,984
	288		Hubbell, Inc		38
	386		IDEX Corp		58
	246,905		Illinois Tool Works, Inc		34,843
	101,752		Ingersoll-Rand plc		10,409
	401,197		Johnson Controls International plc		14,042
	303,500		Kajima Corp		4,413
	55,200		Kawasaki Heavy Industries Ltd		1,557
	1,335,270		Keppel Corp Ltd		6,798
	196,578	*,e	KEYW Holding Corp, The		1,702
	353,100		Komatsu Ltd		10,745
	566,200		Kubota Corp		9,619
	59,117		L3 Technologies, Inc		12,569
	14,151		Legrand S.A.		1,032
	364		Lennox International, Inc		80
	301,619		Masco Corp		11,039
	504,170		Meggitt plc		3,722
	9,220		Metso Oyj		326
	460,000		Mitsubishi Corp		14,169
	653,200		Mitsui & Co Ltd		11,608
	563		MSC Industrial Direct Co (Class A)		50
	10,359		MTU Aero Engines Holding AG.		2,334

399

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	8,124	*	MYR Group, Inc	$	265
	83,000	e	NGK Insulators Ltd		1,368
	333,800		Obayashi Corp		3,162
	358		Oshkosh Truck Corp		26
	68,619		Osram Licht AG.		2,725
	386		Owens Corning, Inc		21
	119,987		PACCAR, Inc		8,182
	58,416		Parker-Hannifin Corp		10,744
	184,808	*,e	Plug Power, Inc		355
	89,372	*	Quanta Services, Inc		2,983
	247,163		Rexel S.A.		3,713
	50,348		Rockwell Automation, Inc		9,441
	218,842		Rockwell Collins, Inc		30,741
	46,281		Roper Industries, Inc		13,709
	17,377		Rush Enterprises, Inc (Class A)		683
	171,627		Schneider Electric S.A.		13,781
	28,778	*	Sensata Technologies Holding plc		1,426
	386,200		Shimizu Corp		3,526
	176,581		Siemens AG.		22,578
	7,999		Snap-On, Inc		1,469
	64,773		Spirit Aerosystems Holdings, Inc (Class A)		5,938
	10,084		Stanley Works		1,477
	72,127	*	Teledyne Technologies, Inc		17,792
	8,500		THK Co Ltd		216
	22,276	*	Titan Machinery, Inc		345
	54,800	e	Toto Ltd		2,273
	203,100		Toyota Tsusho Corp		7,668
	66,202	*	TransDigm Group, Inc		24,647
	17,604		Travis Perkins plc		244
	29,026	*	United Rentals, Inc		4,749
	10,935	*	Veritiv Corp		398
	43,118		Vestas Wind Systems AS		2,913
	414,066		Volvo AB (B Shares)		7,303
	16,868		W.W. Grainger, Inc		6,029
	5,431		Wabash National Corp		99
	137	*	WABCO Holdings, Inc		16
	366,312	e	Wartsila Oyj (B Shares)		7,128
	3,753	*	Welbilt, Inc		78
	254,633	*	Wesco Aircraft Holdings, Inc		2,865
	698	*	WESCO International, Inc		43
	19,775		Woodward Governor Co		1,599
	12,800	e	WSP Global, Inc		701
	46,643		Xylem, Inc		3,725
			TOTAL CAPITAL GOODS		647,983
COMMERCIAL & PROFESSIONAL SERVICES - 0.7%
	2,604		ABM Industries, Inc		84
	36,304		ACCO Brands Corp		410
	25,543		Adecco S.A.		1,343
	248,743		Brambles Ltd		1,959
	11,578	*	Cimpress NV		1,582
	272,119	*	Copart, Inc		14,022
	37,478		Exponent, Inc		2,009

400

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	12,422		Heidrick & Struggles International, Inc	$	420
	11,793		ICF International, Inc		890
	314,230	*	IHS Markit Ltd		16,956
	31,165		Insperity, Inc		3,676
	117,640		Intertek Group plc		7,653
	1,600		KAR Auction Services, Inc		95
	16,221		Kelly Services, Inc (Class A)		390
	7,947		Kforce, Inc		299
	15,748		Manpower, Inc		1,354
	23,089	*	Mistras Group, Inc		500
	2,100		Mobile Mini, Inc		92
	44,324		Navigant Consulting, Inc		1,022
	1,000	*	On Assignment, Inc		79
	10,610		Pitney Bowes, Inc		75
	241,000		Recruit Holdings Co Ltd		8,050
	21,731		Resources Connection, Inc		361
	105,263		Robert Half International, Inc		7,408
	1,100		Secom Co Ltd		90
	3,476		SGS S.A.		9,152
	1,544	*	SP Plus Corp		56
	66,652	*,e	Team, Inc		1,500
	9,438		Tetra Tech, Inc		644
	166,614		TransUnion		12,259
	21,665		Viad Corp		1,284
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		95,714
CONSUMER DURABLES & APPAREL - 1.1%
	48,541		Adidas-Salomon AG.		11,871
	497,409		Barratt Developments plc		3,673
	30,182		Berkeley Group Holdings plc		1,446
	232,096		Burberry Group plc		6,095
	83,671		Callaway Golf Co		2,032
	224		Carter’s, Inc		22
	20,968	*	Century Communities, Inc		550
	20,506		Ethan Allen Interiors, Inc		426
	92,506	*	Fossil Group, Inc		2,154
	709		Garmin Ltd		50
	24,584	e	Hanesbrands, Inc		453
	804		Hasbro, Inc		85
	15,890	*	iRobot Corp		1,747
	32,156		Lennar Corp (Class A)		1,501
	4,521	*,e	LGI Homes, Inc		214
	14,087	*	Lululemon Athletica, Inc		2,289
	120,304	*,e	Mattel, Inc		1,889
	34,564	*	Meritage Homes Corp		1,379
	666	*	Michael Kors Holdings Ltd		46
	24,650	*	Mohawk Industries, Inc		4,322
	19,825		Movado Group, Inc		831
	229,875		Newell Rubbermaid, Inc		4,666
	597,104		Nike, Inc (Class B)		50,587
	10	*	NVR, Inc		25
	827,400		Panasonic Corp		9,591
	14,720	e	Pandora AS		919

401

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	646		PVH Corp	$	93
	34,300		Sekisui Chemical Co Ltd		633
	373,500		Sekisui House Ltd		5,696
	93,300		Sharp Corp		1,896
	323,000		Sony Corp		19,634
	750		Tapestry, Inc		38
	762,926		Taylor Wimpey plc		1,705
	762,500		Techtronic Industries Co		4,864
	372	*	Tempur Sealy International, Inc		20
	273		Toll Brothers, Inc		9
	279		Tupperware Corp		9
	84,700	*,e	Under Armour, Inc		1,648
	170,931	*,e	Under Armour, Inc (Class A)		3,627
	18,549	*	Unifi, Inc		525
	80,568		VF Corp		7,529
	10,849		Whirlpool Corp		1,288
			TOTAL CONSUMER DURABLES & APPAREL		158,077
CONSUMER SERVICES - 1.4%
	138,079		Accor S.A.		7,093
	15,319	*	American Public Education, Inc		506
	71,614		ARAMARK Holdings Corp		3,081
	5,746	*	Bright Horizons Family Solutions		677
	19,899		Carriage Services, Inc		429
	632	*	Chipotle Mexican Grill, Inc (Class A)		287
	42,193		Choice Hotels International, Inc		3,515
	564,363		Compass Group plc		12,548
	53,679		Darden Restaurants, Inc		5,969
	676		Dunkin Brands Group, Inc		50
	3,355	*	El Pollo Loco Holdings, Inc		42
	1,543		H&R Block, Inc		40
	183,239		Hilton Worldwide Holdings, Inc		14,802
	26,982	*	Houghton Mifflin Harcourt Co		189
	140,104		InterContinental Hotels Group plc		8,721
	258,179		Marriott International, Inc (Class A)		34,087
	653,836	g	Merlin Entertainments plc		3,410
	87,086	*	Norwegian Cruise Line Holdings Ltd		5,001
	96,600		Oriental Land Co Ltd		10,100
	98,533		Royal Caribbean Cruises Ltd		12,803
	55,231		Service Corp International		2,441
	61,317	*	ServiceMaster Global Holdings, Inc		3,804
	1,172,000		Shangri-La Asia Ltd		1,735
	635	e	Six Flags Entertainment Corp		44
	768,481		Starbucks Corp		43,680
	256,169		TUI AG. (DI)		4,914
	15,174		Vail Resorts, Inc		4,164
	3,787		Wendy’s		65
	130,649		Whitbread plc		8,030
			TOTAL CONSUMER SERVICES		192,227
DIVERSIFIED FINANCIALS - 3.1%
	722,770		3i Group plc		8,850
	96,000	e	AEON Financial Service Co Ltd		1,988

402

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	78,780		Ally Financial, Inc	$	2,084
	407,825		American Express Co		43,429
	34,715		Ameriprise Financial, Inc		5,126
	1,444,992		AMP Ltd		3,331
	595,211		Bank of New York Mellon Corp		30,350
	79,185		BlackRock, Inc		37,322
	301,461		Capital One Financial Corp		28,618
	665,152		Charles Schwab Corp		32,692
	6,710		Chimera Investment Corp		122
	202,554		CME Group, Inc		34,477
	73,651		Deutsche Boerse AG.		9,848
	306,139		Discover Financial Services		23,404
	3,050		Dynex Capital, Inc		19
	5,122	*	E*TRADE Financial Corp		268
	104,230		EXOR NV		6,954
	15,538		Factset Research Systems, Inc		3,476
	53,294		Franklin Resources, Inc		1,621
	34,985	*	Green Dot Corp		3,107
	398,375		Hong Kong Exchanges and Clearing Ltd		11,383
	194,743		Invesco Ltd		4,456
	617,282		Investec plc		4,330
	33,731		Investment Technology Group, Inc		731
	138,061		Investor AB (B Shares)		6,362
	47,941		Legg Mason, Inc		1,497
	162,751		London Stock Exchange Group plc		9,725
	655		LPL Financial Holdings, Inc		42
	127,644		Macquarie Group Ltd		11,612
	371,500		Mitsubishi UFJ Lease & Finance Co Ltd		2,186
	41,309		Moody’s Corp		6,907
	18,748		Morgan Stanley		873
	910		Morningstar, Inc		115
	909,617		Natixis		6,177
	12,048	*,m	NewStar Financial, Inc		3
	181,295		Northern Trust Corp		18,516
	104,012	*	On Deck Capital, Inc		787
	1,841		Raymond James Financial, Inc		169
	156,231		S&P Global, Inc		30,526
	118,564		Schroders plc		4,776
	1,371,445		Standard Life plc		5,465
	213,089		State Street Corp		17,853
	68,336		T Rowe Price Group, Inc		7,461
	119,663		TD Ameritrade Holding Corp		6,322
	18,320		Voya Financial, Inc		910
	25,534		Wendel		3,805
			TOTAL DIVERSIFIED FINANCIALS		440,075
ENERGY - 3.5%
	31,900		Aker BP ASA		1,351
	161,542	e	AltaGas Income Trust		2,570
	38,588		Andeavor		5,923
	116,691	*	Antero Resources Corp		2,067
	142,503		Apache Corp		6,793
	15,185		Archrock, Inc		185
	265,911		Baker Hughes a GE Co		8,996

403

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,509	*	California Resources Corp	$	73
	3,504		Caltex Australia Ltd		76
	635,237		Cenovus Energy, Inc (Toronto)		6,379
	151,798	*	Cheniere Energy, Inc		10,548
	26,240		Cimarex Energy Co		2,439
	474,868		ConocoPhillips		36,755
	36,588	*,e	Covia Holdings Corp		328
	45,427	e	Delek US Holdings, Inc		1,927
	244,689		Devon Energy Corp		9,773
	16,418		Enagas		443
	470,850		Enbridge, Inc (Toronto)		15,194
	501,676		EnCana Corp		6,576
	89,219		EQT Corp		3,946
	33,952	*	Exterran Corp		901
	78,969	*	Forum Energy Technologies, Inc		817
	382,818		Galp Energia SGPS S.A.		7,590
	47,174		Green Plains Renewable Energy, Inc		811
	97,403	*	Helix Energy Solutions Group, Inc		962
	114,164		Hess Corp		8,172
	698,986		Inpex Holdings, Inc		8,733
	175,428		John Wood Group plc		1,760
	1,917,088		Kinder Morgan, Inc		33,990
	57,666		Koninklijke Vopak NV		2,841
	1,460	*	Laredo Petroleum Holdings, Inc		12
	73,151		Lundin Petroleum AB		2,788
	336,579		Marathon Oil Corp		7,836
	28,451	*	Matrix Service Co		701
	108,605	*	McDermott International, Inc		2,002
	326,254		National Oilwell Varco, Inc		14,055
	16,599	*	Natural Gas Services Group, Inc		350
	81,374		Neste Oil Oyj		6,707
	575	*	Newfield Exploration Co		17
	107,917	*	Newpark Resources, Inc		1,117
	173,638		Noble Energy, Inc		5,416
	468,968		Occidental Petroleum Corp		38,535
	5,830	*	Oceaneering International, Inc		161
	138,124		OMV AG.		7,749
	261,849		Oneok, Inc		17,751
	8,920		PBF Energy, Inc		445
	4,435	*	PDC Energy, Inc		217
	81,362		Pioneer Natural Resources Co		14,172
	50,847	*	Renewable Energy Group, Inc		1,464
	581,547		Repsol YPF S.A.		11,577
	1,410	e	RPC, Inc		22
	372,495		Santos Ltd		1,956
	650,819		Schlumberger Ltd		39,648
	171,800		Showa Shell Sekiyu KK		3,644
	8,573		SM Energy Co		270
	1,955,918		Snam Rete Gas S.p.A.		8,134
	236,915	*	Southwestern Energy Co		1,211
	459,630		Statoil ASA		12,923
	439,419		Suncor Energy, Inc		17,003
	143,731	*	Superior Energy Services		1,400

404

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,009		Targa Resources Investments, Inc	$	57
	801	e	TechnipFMC plc (Euro OTC)		25
	282,465		Tenaris S.A.		4,731
	244,854	*	Tetra Technologies, Inc		1,104
	497,645		Total S.A.		32,357
	4,961	*	Unit Corp		129
	23,728	e	US Silica Holdings Inc		447
	332,521		Valero Energy Corp		37,824
	712,045	*,e	Weatherford International Ltd		1,930
	283,365		Woodside Petroleum Ltd		7,905
	25,600		World Fuel Services Corp		709
			TOTAL ENERGY		495,420
FOOD & STAPLES RETAILING - 0.6%
	156,900		Aeon Co Ltd		3,780
	78,526		Alimentation Couche Tard, Inc		3,928
	58,689		Casey’s General Stores, Inc		7,577
	46,095	e	Casino Guichard Perrachon S.A.		1,940
	41,504	*	Chefs’ Warehouse Holdings, Inc		1,509
	700		FamilyMart Co Ltd		73
	34,555		George Weston Ltd		2,616
	612,987		J Sainsbury plc		2,568
	103,584		Loblaw Cos Ltd		5,322
	147,990		Metro Wholesale & Food Specialist AG.		2,318
	99,916	*	Performance Food Group Co		3,327
	26,111		Pricesmart, Inc		2,114
	101,919	*	Smart & Final Stores, Inc		581
	48,144		Spartan Stores, Inc		966
	198,234	*	Sprouts Farmers Market, Inc		5,434
	3,394,984		Tesco plc		10,614
	81,296	*	United Natural Foods, Inc		2,435
	415,797	*	US Foods Holding Corp		12,815
	12,906		Weis Markets, Inc		560
	208,002	e	Wesfarmers Ltd		7,490
	459,754		WM Morrison Supermarkets plc		1,554
	6,082		Woolworths Ltd		123
			TOTAL FOOD & STAPLES RETAILING		79,644
FOOD, BEVERAGE & TOBACCO - 2.4%
	331,300		Ajinomoto Co, Inc		5,691
	40,341		Archer Daniels Midland Co		2,028
	259,803		Associated British Foods plc		7,754
	1,826		Barry Callebaut AG.		3,458
	43,258		Bunge Ltd		2,972
	110,151	e	Campbell Soup Co		4,035
	442,739		Coca-Cola Amatil Ltd		3,121
	1,396,267		Coca-Cola Co		64,494
	171,578		Coca-Cola European Partners plc (Class A)		7,802
	187,245		Coca-Cola HBC AG.		6,379
	188,469		Danone		14,647
	12,371	*	Freshpet, Inc		454
	370,648		General Mills, Inc		15,908
	2,360	*	Hain Celestial Group, Inc		64
	116,392	e	Hormel Foods Corp		4,586

405

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	192,538		Kellogg Co	$	13,481
	78,731		Kerry Group plc (Class A)		8,707
	99,300	e	Kikkoman Corp		5,914
	10,588		McCormick & Co, Inc		1,395
	919,256		Mondelez International, Inc		39,491
	572,365		Nestle S.A.		47,642
	47,900		Nissin Food Products Co Ltd		3,295
	455,798		Orkla ASA		3,851
	534,713		PepsiCo, Inc		59,781
	129,900		Suntory Beverage & Food Ltd		5,503
	69,000		Yakult Honsha Co Ltd		5,659
			TOTAL FOOD, BEVERAGE & TOBACCO		338,112
HEALTH CARE EQUIPMENT & SERVICES - 3.1%
	30,869	*	Abiomed, Inc		13,883
	39,924	*	Acadia Healthcare Co, Inc		1,405
	39,666	*	Accuray, Inc		178
	11,700		Alfresa Holdings Corp		313
	50,114	*	Align Technology, Inc		19,606
	55,129	*	Allscripts Healthcare Solutions, Inc		786
	37,965	*	Amedisys, Inc		4,744
	40,869	*	AMN Healthcare Services, Inc		2,236
	35,222	*	Angiodynamics, Inc		766
	49,395	*	athenahealth, Inc		6,599
	32,319	*	AtriCure, Inc		1,132
	163,616		Becton Dickinson & Co		42,704
	73,393	*	Brookdale Senior Living, Inc		721
	31,810	*	Capital Senior Living Corp		300
	239,727		Cardinal Health, Inc		12,945
	17,497	*	Cardiovascular Systems, Inc		685
	161,618	*	Centene Corp		23,399
	182,855	*	Cerner Corp		11,778
	79,050	*	Cerus Corp		570
	50,101		Coloplast AS		5,118
	14,582	e	Computer Programs & Systems, Inc		392
	308,743	g	ConvaTec Group plc		934
	19,943		Cooper Cos, Inc		5,527
	4,570	*	Corvel Corp		275
	25,039	*	Cross Country Healthcare, Inc		219
	89,684		CVS Health Corp		7,060
	78,540		Dentsply Sirona, Inc		2,964
	21,016	*	Diplomat Pharmacy, Inc		408
	131,551	*	Edwards Lifesciences Corp		22,903
	105,895	*	Endologix, Inc		202
	109,231	*	Envision Healthcare Corp		4,995
	73,692		Essilor International S.A.		10,908
	52,788	*	GenMark Diagnostics, Inc		388
	4,374	*	Haemonetics Corp		501
	174,383		HCA Holdings, Inc		24,260
	583,695		Healthscope Ltd		885
	26,729	*	Henry Schein, Inc		2,273
	10,561	*	HMS Holdings Corp		346
	132,293	*	Hologic, Inc		5,421

406

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	114,313		Humana, Inc	$	38,697
	39,661	*	Idexx Laboratories, Inc		9,902
	38,105	*	Integer Holding Corp		3,161
	305,083		Koninklijke Philips Electronics NV		13,906
	66,632	*	Laboratory Corp of America Holdings		11,573
	19,312	*	LHC Group, Inc		1,989
	43,058	*	LifePoint Hospitals, Inc		2,773
	9,373	*	LivaNova plc		1,162
	345,756		Mediclinic International plc		1,931
	7,710	*	Medidata Solutions, Inc		565
	37,651	*	Merit Medical Systems, Inc		2,314
	42,933	*	NextGen Healthcare, Inc		862
	95,734		NMC Health plc		4,232
	46,381	*	Omnicell, Inc		3,335
	70,523	*	OraSure Technologies, Inc		1,090
	1,240	*	Penumbra, Inc		186
	2,830	*	Premier, Inc		130
	15,337	*	Providence Service Corp		1,032
	29,557		Quest Diagnostics, Inc		3,189
	19,319	*	Quidel Corp		1,259
	103,188		Ramsay Health Care Ltd		4,094
	57,860		Resmed, Inc		6,674
	252,994		Ryman Healthcare Ltd		2,346
	8,303		Sartorius AG.		1,346
	54,324	*	Select Medical Holdings Corp		1,000
	27,097	*	Staar Surgical Co		1,301
	41,823	*,e	Surgery Partners, Inc		690
	63,500		Sysmex Corp		5,476
	27,659	*,e	Teladoc, Inc		2,388
	19,606	*,e	Tivity Health, Inc		630
	18,482	*	Triple-S Management Corp (Class B)		349
	200,002		UnitedHealth Group, Inc		53,208
	16,067		US Physical Therapy, Inc		1,906
	20,611	*	Varian Medical Systems, Inc		2,307
	29,070	*	Veeva Systems, Inc		3,165
	32,132	*	Vocera Communications, Inc		1,175
	846		West Pharmaceutical Services, Inc		104
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		432,176
HOUSEHOLD & PERSONAL PRODUCTS - 1.3%
	493		Clorox Co		74
	418,330		Colgate-Palmolive Co		28,007
	4,015		Energizer Holdings, Inc		236
	29,864		Essity AB		750
	89,385		Estee Lauder Cos (Class A)		12,989
	78,239		Henkel KGaA		8,300
	22,604		Henkel KGaA (Preference)		2,650
	46,900		Kao Corp		3,789
	87,120		Kimberly-Clark Corp		9,900
	68,224		L’Oreal S.A.		16,448
	831,833		Procter & Gamble Co		69,234
	47,600		Shiseido Co Ltd		3,687
	283,027		Unilever NV		15,743
	322,263		Unilever plc		17,703
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		189,510

407

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
INSURANCE - 2.6%
	1,073,234		Aegon NV	$	6,966
	102,018		Allianz AG.		22,706
	69,116		Allstate Corp		6,822
	693,538		American International Group, Inc		36,924
	3,753	*	Arch Capital Group Ltd		112
	2,370		Arthur J. Gallagher & Co		176
	34,267		Aspen Insurance Holdings Ltd		1,432
	429,880		Assicurazioni Generali S.p.A.		7,402
	1,684,558		Aviva plc		10,748
	574,060		AXA S.A.		15,382
	2,167		Axis Capital Holdings Ltd		125
	291,953		Chubb Ltd		39,017
	162,931		CNP Assurances		3,928
	1,270		First American Financial Corp		66
	2,823,775		Legal & General Group plc		9,640
	2,173		Lincoln National Corp		147
	236,587		Loews Corp		11,884
	383,778		Marsh & McLennan Cos, Inc		31,746
	54,934		Muenchener Rueckver AG.		12,134
	109,100		NKSJ Holdings, Inc		4,649
	58,440		NN Group NV		2,608
	20,520		Principal Financial Group		1,202
	396,061		Progressive Corp		28,136
	344,651		Prudential Financial, Inc		34,920
	739,116		Prudential plc		16,947
	209,543		RSA Insurance Group plc		1,570
	169,346		Sun Life Financial, Inc		6,732
	110,861		Swiss Re Ltd		10,214
	173,200		Tokio Marine Holdings, Inc		8,598
	206,143		Travelers Cos, Inc		26,739
	495		White Mountains Insurance Group Ltd		463
	1,467	e	Willis Towers Watson plc		207
	46,595		Zurich Financial Services AG.		14,692
			TOTAL INSURANCE		375,034
MATERIALS - 3.0%
	107,681		Agnico-Eagle Mines Ltd		3,678
	124,417		Air Liquide		16,339
	155,939		Air Products & Chemicals, Inc		26,050
	63,469		Akzo Nobel NV		5,937
	24,722		Albemarle Corp		2,467
	2,320,329		Alumina Ltd		4,645
	1,306		Aptargroup, Inc		141
	226,300		Asahi Kasei Corp		3,431
	2,277	*	Axalta Coating Systems Ltd		66
	129,640		Ball Corp		5,703
	214,323		BASF SE		19,018
	950		Bemis Co, Inc		46
	531	*	Berry Plastics Group, Inc		26
	515,949		BlueScope Steel Ltd		6,328
	264,285		Boliden AB		7,350

408

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	17,502		Celanese Corp (Series A)	$	1,995
	34,439	*,e	Century Aluminum Co		412
	6,223		Christian Hansen Holding		631
	14,714	*	Clearwater Paper Corp		437
	86,865		Commercial Metals Co		1,782
	256,913		CRH plc		8,405
	65,860		Croda International plc		4,464
	5,941		DSM NV		629
	232,477		Ecolab, Inc		36,448
	104,881		Evonik Industries AG.		3,751
	5,690	*	Ferro Corp		132
	313		FMC Corp		27
	1,017,981		Fortescue Metals Group Ltd		2,885
	60,932		Franco-Nevada Corp		3,812
	4,290		Givaudan S.A.		10,556
	83,785		HeidelbergCement AG.		6,544
	197,200	e	Hitachi Metals Ltd		2,442
	28,589		Imerys S.A.		2,111
	827		International Flavors & Fragrances, Inc		115
	172,881		International Paper Co		8,497
	131,475		Johnson Matthey plc		6,101
	27,080		Kapstone Paper and Packaging Corp		918
	59,233		Louisiana-Pacific Corp		1,569
	190,457		LyondellBasell Industries AF S.C.A		19,524
	197		Martin Marietta Materials, Inc		36
	9,897		Materion Corp		599
	25,920		Minerals Technologies, Inc		1,752
	486,000		Mitsubishi Chemical Holdings Corp		4,651
	152,392		Mitsui Chemicals, Inc		3,811
	77,471		Mondi plc		2,121
	174,165		Mosaic Co		5,657
	311,816		Newcrest Mining Ltd		4,379
	202,242		Newmont Mining Corp		6,108
	359,400		Nippon Steel Corp		7,602
	28,700		Nitto Denko Corp		2,152
	1,299,449		Norsk Hydro ASA		7,793
	339,980		Nucor Corp		21,572
	207,009	e	Nutrien Ltd (Toronto)		11,953
	205,572		Praxair, Inc		33,042
	4,188		Reliance Steel & Aluminum Co		357
	91,340		Royal Gold, Inc		7,039
	10,424		Schnitzer Steel Industries, Inc (Class A)		282
	337		Scotts Miracle-Gro Co (Class A)		27
	1,772		Sealed Air Corp		71
	131,300		Shin-Etsu Chemical Co Ltd		11,608
	5,600		Showa Denko KK		309
	31,200		Sika AG.		4,540
	1,033		Sonoco Products Co		57
	153,789		Stora Enso Oyj (R Shares)		2,937
	1,184,000		Sumitomo Chemical Co Ltd		6,929
	224,500		Sumitomo Metal Mining Co Ltd		7,872
	67,852	*	Summit Materials, Inc		1,234
	376,603		Teck Cominco Ltd		9,076
	9,000		Toray Industries, Inc		67

409

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	29,019		Trinseo S.A.	$	2,272
	100,625		Umicore S.A.		5,621
	166,329		UPM-Kymmene Oyj		6,523
	19,003	*,e	US Concrete, Inc		871
	108,655		Voestalpine AG.		4,963
	39,240		Vulcan Materials Co		4,363
	128,298		WestRock Co		6,856
	124,372		Wheaton Precious Metals Corp		2,176
			TOTAL MATERIALS		424,690
MEDIA - 0.9%
	1,669		Cable One, Inc		1,475
	19,251		Cinemark Holdings, Inc		774
	66,744		Clear Channel Outdoor Holdings, Inc (Class A)		397
	700		CyberAgent, Inc		37
	17,000		Dentsu, Inc		789
	291,226	*,e	Discovery, Inc (Class A)		9,319
	315,190	*	Discovery, Inc (Class C)		9,323
	84,634		Entravision Communications Corp (Class A)		415
	152,247	*	Gray Television, Inc		2,664
	17,922		Interpublic Group of Cos, Inc		410
	730,228		ITV plc		1,499
	53,477		JC Decaux S.A.		1,956
	15,074		John Wiley & Sons, Inc (Class A)		913
	179,060	*	Liberty Broadband Corp (Class C)		15,095
	4,448	*	Liberty Global plc		125
	2,960	*	Liberty Global plc (Class A)		86
	64,304	*	Live Nation, Inc		3,503
	5,583	*	Loral Space & Communications, Inc		253
	6,202		Marcus Corp		261
	137,608		New York Times Co (Class A)		3,186
	149,250		Omnicom Group, Inc		10,152
	369,400	e	Pearson plc		4,276
	63,571		ProSiebenSat. Media AG.		1,647
	3,689	*	RELX plc		77
	500,675		RELX plc (London)		10,533
	7,561		Schibsted ASA (B Shares)		263
	11,472		Scholastic Corp		536
	52,959		Sinclair Broadcast Group, Inc (Class A)		1,501
	2,898,662	e	Sirius XM Holdings, Inc		18,320
	468,396		Sky plc		10,556
	17,183		Tribune Co		660
	212,730		Vivendi Universal S.A.		5,471
	23,762		World Wrestling Entertainment, Inc (Class A)		2,298
	508,239		WPP plc		7,443
			TOTAL MEDIA		126,213
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.9%
	419,159		AbbVie, Inc		39,644
	96,085	*,e	Acadia Pharmaceuticals, Inc		1,995
	8,756	*,e	Acceleron Pharma, Inc		501
	4,399	*	Acorda Therapeutics, Inc		86
	18,975	*,e	Aduro Biotech, Inc		139

410

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	244,373		Agilent Technologies, Inc	$	17,238
	24,557	*	Agios Pharmaceuticals, Inc		1,894
	85,128	*	Akorn, Inc		1,105
	628	*	Alkermes plc		27
	269,744		Amgen, Inc		55,915
	701,314		Astellas Pharma, Inc		12,247
	291,740		AstraZeneca plc		22,739
	9,400		AstraZeneca plc (ADR)		372
	56,798	*,e	Aurora Cannabis, Inc		546
	85,693	*	Bellicum Pharmaceuticals, Inc		528
	165,249	*,e	BioCryst Pharmaceuticals, Inc		1,261
	89,593	*	Biogen Idec, Inc		31,654
	68,357	*	BioMarin Pharmaceutical, Inc		6,629
	16,205	*	Bluebird Bio, Inc		2,366
	664,344		Bristol-Myers Squibb Co		41,243
	1,178		Bruker BioSciences Corp		39
	312,833	*	Celgene Corp		27,995
	147,897		Chugai Pharmaceutical Co Ltd		9,507
	69,722	*	Coherus Biosciences, Inc		1,150
	23,539	*,e	Collegium Pharmaceutical, Inc		347
	97,886		CSL Ltd		14,223
	80,900		Eisai Co Ltd		7,881
	466,548		Eli Lilly & Co		50,065
	5,911	*,e	Esperion Thereapeutics, Inc		262
	40,521	*	FibroGen, Inc		2,462
	19,936	*,e	Flexion Therapeutics Inc		373
	25,931	*	Genmab AS		4,073
	458,560		Gilead Sciences, Inc		35,405
	2,142		H Lundbeck AS		132
	11,045	*	Halozyme Therapeutics, Inc		201
	32,463	*	Illumina, Inc		11,916
	878	*	Incyte Corp		61
	32,294	*,e	Inovio Pharmaceuticals, Inc		180
	34,337	*,e	Intersect ENT, Inc		987
	64,045	*	Iovance Biotherapeutics, Inc		720
	95,476	*	IQVIA Holdings, Inc		12,387
	417	*	Jazz Pharmaceuticals plc		70
	221,500		Kyowa Hakko Kogyo Co Ltd		4,156
	33,093		Lonza Group AG.		11,321
	90,218		Merck KGaA		9,321
	7,999	*	Mettler-Toledo International, Inc		4,871
	71,288	*	Nektar Therapeutics		4,346
	422,145		Novo Nordisk AS		19,868
	92,678	*,e	Opko Health, Inc		321
	1,883		Orion Oyj (Class B)		71
	9,341	*	PerkinElmer, Inc		909
	652		Perrigo Co plc		46
	76,847	*	Prestige Brands Holdings, Inc		2,912
	160,718	*,e	Progenics Pharmaceuticals, Inc		1,008
	16,974	*	Prothena Corp plc		222
	181,028	*	QIAGEN NV (Turquoise)		6,856
	567	*	Repligen Corp		31
	140,435		Roche Holding AG.		33,959
	10,089	*	Sage Therapeutics, Inc		1,425

411

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	62,806	*	Sangamo Biosciences, Inc	$	1,065
	259,402		Sanofi-Aventis		23,177
	25,811	*	Sarepta Therapeutics, Inc		4,169
	945,287		Schering-Plough Corp		67,059
	93,800		Shionogi & Co Ltd		6,132
	4,346	*,e	Spark Therapeutics, Inc		237
	23,800	e	Sumitomo Dainippon Pharma Co Ltd		547
	19,426	*,e	TESARO, Inc		758
	30,109	*,e	Theravance Biopharma, Inc		984
	42,324		UCB S.A.		3,803
	31,135	*,e	Ultragenyx Pharmaceutical, Inc		2,377
	114,807	*	Vertex Pharmaceuticals, Inc		22,128
	4,804		Vifor Pharma AG.		833
	27,717	*	Waters Corp		5,396
	324,616		Zoetis, Inc		29,722
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		688,595
REAL ESTATE - 2.1%
	20,600		Aeon Mall Co Ltd		354
	15,548	*,e	Altisource Portfolio Solutions S.A.		501
	57,161		American Campus Communities, Inc		2,353
	279,287		American Tower Corp		40,581
	108,838		Boston Properties, Inc		13,397
	4,210		Brandywine Realty Trust		66
	805,154		British Land Co plc		6,476
	80,242		Brixmor Property Group, Inc		1,405
	1,153,449		CapitaLand Ltd		2,841
	151,020	*	CBRE Group, Inc		6,660
	228,200		City Developments Ltd		1,521
	32,533		Coresite Realty		3,616
	292,300		Daiwa House Industry Co Ltd		8,662
	132,166		Duke Realty Corp		3,749
	2,171		Easterly Government Properties, Inc		42
	58,356		Equinix, Inc		25,262
	33,746		Forest City Realty Trust, Inc		847
	539		Gecina S.A.		90
	462,907		Hammerson plc		2,754
	1,326,000		Hang Lung Properties Ltd		2,587
	329,519		HCP, Inc		8,673
	257,492		Host Marriott Corp		5,433
	50,390	*	Howard Hughes Corp		6,259
	269,000		Hulic Co Ltd		2,640
	158,670		Hysan Development Co Ltd		801
	158,410		Iron Mountain, Inc		5,468
	40,680	e	iStar Financial, Inc		454
	2,640		Jones Lang LaSalle, Inc		381
	495,014		Land Securities Group plc		5,700
	45,796		Lend Lease Corp Ltd		651
	3,590		Liberty Property Trust		152
	423,000		Link REIT		4,165
	533,400		Mitsubishi Estate Co Ltd		9,057
	362,810		Mitsui Fudosan Co Ltd		8,581
	17		Nippon ProLogis REIT, Inc		34

412

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	59,300		Nomura Real Estate Holdings, Inc	$	1,196
	49,218		NorthStar Realty Europe Corp		697
	31,860		Paramount Group, Inc		481
	7,000		Piedmont Office Realty Trust, Inc		132
	508,773		Prologis, Inc		34,490
	36,640		QTS Realty Trust, Inc		1,563
	3,184		Rayonier, Inc		108
	3,772	e	Realogy Holdings Corp		78
	3,556		RMR Group, Inc		330
	77,912	*	SBA Communications Corp		12,515
	405,518		Scentre Group		1,165
	422,920		Segro plc		3,519
	12,041		Senior Housing Properties Trust		211
	6,210		Starwood Property Trust, Inc		134
	463,500		Swire Pacific Ltd (Class A)		5,076
	1,128,400		Swire Properties Ltd		4,274
	2,845	*	Tejon Ranch Co		62
	35,140		Tier REIT, Inc		847
	92,183		UDR, Inc		3,727
	40,112		Unibail-Rodamco-Westfield		8,080
	34,700		UOL Group Ltd		175
	111,568		Vornado Realty Trust		8,144
	341,664		Welltower, Inc		21,976
	291,785		Weyerhaeuser Co		9,416
			TOTAL REAL ESTATE		300,609
RETAILING - 3.1%
	74,043	*	1-800-FLOWERS.COM, Inc (Class A)		874
	35,173		Advance Auto Parts, Inc		5,921
	440	*	Autonation, Inc		18
	101,665		Best Buy Co, Inc		8,068
	23,454	*	Booking Holdings, Inc		46,533
	83,674	*	CarMax, Inc		6,248
	23,706		Dollarama, Inc		747
	153,002		Expedia, Inc		19,964
	18,500		Fast Retailing Co Ltd		9,372
	3,529	*	Five Below, Inc		459
	3,480	e	GameStop Corp (Class A)		53
	183,206		Gap, Inc		5,286
	24,552	*	Genesco, Inc		1,156
	679		Genuine Parts Co		67
	6,844	e	Group 1 Automotive, Inc		444
	1,000,594	*	Groupon, Inc		3,772
	14,217		Haverty Furniture Cos, Inc		314
	61,083	e	Hennes & Mauritz AB (B Shares)		1,129
	31,775	*,e	Hibbett Sports, Inc		597
	365,287		Home Depot, Inc		75,669
	392,387		Industria De Diseno Textil S.A.		11,855
	92,700		Jardine Cycle & Carriage Ltd		2,170
	24,493		Kering		13,137
	298,277		Kingfisher plc		1,009
	167,864		Kohl’s Corp		12,514
	829		L Brands, Inc		25
	97,581	*,e	Lands’ End, Inc		1,713

413

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	5,405,620		Li & Fung Ltd	$	1,211
	120,512	*	LKQ Corp		3,817
	416,666		Lowe’s Companies, Inc		47,842
	1,225		Macy’s, Inc		43
	16,107	*	MarineMax, Inc		342
	342,665		Marks & Spencer Group plc		1,289
	2,400	e	Marui Co Ltd		59
	308	*	Murphy USA, Inc		26
	159,626	*	NetFlix, Inc		59,721
	31,269		Next plc		2,238
	300		Nitori Co Ltd		43
	25,231		Nordstrom, Inc		1,509
	119,203	e	Nutri/System, Inc		4,416
	102,526		Office Depot, Inc		329
	66,187	*,e	Overstock.com, Inc		1,833
	201		Pool Corp		34
	48,646		Rent-A-Center, Inc		700
	238,435		Ross Stores, Inc		23,629
	1,746	*	Sally Beauty Holdings, Inc		32
	15,085	e	Shoe Carnival, Inc		581
	115,603	*	Shutterfly, Inc		7,617
	8,700		Start Today Co Ltd		263
	87,102		Target Corp		7,683
	22,162		Tiffany & Co		2,858
	15,696		Tile Shop Holdings, Inc		112
	71,399		TJX Companies, Inc		7,998
	12,920		Tractor Supply Co		1,174
	97,627	*,e	TripAdvisor, Inc		4,986
	31,204	*	Ulta Beauty, Inc		8,803
	98,756	*,e	Wayfair, Inc		14,583
	46,193	e	Williams-Sonoma, Inc		3,036
	29,100	*,g	Zalando SE		1,131
			TOTAL RETAILING		439,052
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.6%
	571,903		Applied Materials, Inc		22,104
	97,176		ASML Holding NV		18,245
	29,888	*	Cirrus Logic, Inc		1,154
	21,963	*	First Solar, Inc		1,063
	18,222	*	Integrated Device Technology, Inc		857
	1,382,301		Intel Corp		65,369
	68,536		Lam Research Corp		10,397
	186,033		NVIDIA Corp		52,279
	455,805		Texas Instruments, Inc		48,904
	56,700		Tokyo Electron Ltd		7,814
	34,766	e	Universal Display Corp		4,099
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		232,285
SOFTWARE & SERVICES - 5.4%
	297,582		Accenture plc		50,649
	102,701		Amadeus IT Holding S.A.		9,519
	18,884	*	Aspen Technology, Inc		2,151
	733		Atos Origin S.A.		87

414

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	168,989	*	Autodesk, Inc	$	26,381
	51,133	*,e	Benefitfocus, Inc		2,068
	371,579	*	Black Knight, Inc		19,304
	27,736		Blackbaud, Inc		2,815
	85,228	*	Blackberry Ltd (New)		965
	311,862		Booz Allen Hamilton Holding Co		15,478
	312,108		CA, Inc		13,780
	179,568	*	Cadence Design Systems, Inc		8,138
	80,102		Cap Gemini S.A.		10,085
	96,573	*	Cardtronics plc		3,056
	127,574	*	CGI Group, Inc		8,225
	23,801	*	ChannelAdvisor Corp		296
	95,102		Computershare Ltd		1,370
	415,660	*	Conduent, Inc		9,361
	63,670		CSG Systems International, Inc		2,556
	39,964	*,e	Ellie Mae, Inc		3,787
	124,524	*	Etsy, Inc		6,398
	101,473	*	Euronet Worldwide, Inc		10,170
	29,933	*	ExlService Holdings, Inc		1,982
	95,600		Fujitsu Ltd		6,811
	324,454	*,e	Gogo, Inc		1,684
	374,142		International Business Machines Corp		56,574
	178,752		Intuit, Inc		40,648
	216,763	*	Limelight Networks, Inc		1,088
	94,174		LogMeIn, Inc		8,391
	771	*	Manhattan Associates, Inc		42
	1,762,380		Microsoft Corp		201,563
	85,314	*	MINDBODY, Inc		3,468
	42,795	*	MoneyGram International, Inc		229
	90,382	*	New Relic, Inc		8,517
	12,500		Nintendo Co Ltd		4,548
	64,400		Nomura Research Institute Ltd		3,252
	89,639	*	Nutanix, Inc		3,829
	29,738	*	OneSpan, Inc		566
	96,077		Open Text Corp		3,656
	1,132,023		Oracle Corp		58,367
	1,800		Otsuka Corp		67
	323,961	*,e	Pandora Media, Inc		3,081
	19,344	*	Paycom Software, Inc		3,006
	5,706	*	Paylocity Holding Corp		458
	70,881	*	Perficient, Inc		1,889
	73,830	*	PTC, Inc		7,840
	37,857	*	Qualys, Inc		3,373
	171,930	*	Quotient Technology, Inc		2,665
	67,765	*	RingCentral, Inc		6,306
	326,001	*	salesforce.com, Inc		51,844
	217,856		SAP AG.		26,788
	67,561		Science Applications International Corp		5,445
	194,307	*	ServiceSource International LLC		554
	49,175	*	SPS Commerce, Inc		4,880
	41,006	*	Sykes Enterprises, Inc		1,250
	31,618	*	Tableau Software, Inc		3,533
	224,993	*	Teradata Corp		8,484
	82,173		TiVo Corp		1,023

415

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	250,782		Travelport Worldwide Ltd	$	4,231
	6,080		TTEC Holdings, Inc		157
	69,730	*	Twilio, Inc		6,016
	20,628	*	Ultimate Software Group, Inc		6,646
	40,347	*	Virtusa Corp		2,167
	37,590	*	Zendesk, Inc		2,669
			TOTAL SOFTWARE & SERVICES		766,226
TECHNOLOGY HARDWARE & EQUIPMENT - 3.9%
	15,530	*	Anixter International, Inc		1,092
	1,083,548		Apple, Inc		244,600
	25,108		Badger Meter, Inc		1,329
	4,043		Belden CDT, Inc		289
	127,495		Benchmark Electronics, Inc		2,983
	1,542,377		Cisco Systems, Inc		75,036
	24,360	*,e	Coherent, Inc		4,195
	9,404		Comtech Telecommunications Corp		341
	548,618		Corning, Inc		19,366
	84,642	*	Cray, Inc		1,820
	33,384		CTS Corp		1,145
	39,009		Daktronics, Inc		306
	148,884		Dolby Laboratories, Inc (Class A)		10,417
	838,820		Ericsson (LM) (B Shares)		7,424
	95,486	*	Fabrinet		4,417
	25,626	*	FARO Technologies, Inc		1,649
	76,904	*,e	Finisar Corp		1,465
	1,281,207		Hewlett Packard Enterprise Co		20,897
	1,421,592		HP, Inc		36,634
	20,660	*	Insight Enterprises, Inc		1,118
	44,469	*	Itron, Inc		2,855
	229,537		Jabil Circuit, Inc		6,216
	27,200		Keyence Corp		15,800
	4,153	*	Keysight Technologies, Inc		275
	34,382	*	Kimball Electronics, Inc		676
	193,000		Konica Minolta Holdings, Inc		2,054
	151,900		Kyocera Corp		9,117
	25,369		Littelfuse, Inc		5,020
	12,679	*	Lumentum Holdings, Inc		760
	37,090		Methode Electronics, Inc		1,343
	91,819		Motorola, Inc		11,949
	3,868		MTS Systems Corp		212
	69,700		Murata Manufacturing Co Ltd		10,710
	158,385		National Instruments Corp		7,655
	103,381		NEC Corp		2,857
	9,996	*	Netgear, Inc		628
	26,169	*	Novanta, Inc		1,790
	58,800		Omron Corp		2,485
	7,653	*	OSI Systems, Inc		584
	21,896	*	Plexus Corp		1,281
	64,222	*	Ribbon Communications, Inc		439
	20,224	*	Rogers Corp		2,979
	32,127	*	Scansource, Inc		1,282
	67,700		Shimadzu Corp		2,122

416

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	25,259		SYNNEX Corp	$	2,139
	4,348		TE Connectivity Ltd		382
	74,240	*	Tech Data Corp		5,313
	150,468	*	TTM Technologies, Inc		2,394
	162,947		Vishay Intertechnology, Inc		3,316
	242,410		Xerox Corp		6,540
	138,600		Yaskawa Electric Corp		4,117
	32,700		Yokogawa Electric Corp		692
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		552,505
TELECOMMUNICATION SERVICES - 1.1%
	14,903	*	Boingo Wireless, Inc		520
	3,706,656		BT Group plc		10,880
	898,805		CenturyLink, Inc		19,055
	72,478	*	Cincinnati Bell, Inc		1,156
	24,511		Cogent Communications Group, Inc		1,368
	100,517	e	Consolidated Communications Holdings, Inc		1,311
	207,233	*,e	Iridium Communications, Inc		4,663
	535,332		KDDI Corp		14,768
	484,200		NTT DoCoMo, Inc		13,014
	725,735		Orange S. A.		11,548
	47,991	*	Orbcomm, Inc		521
	190,961		Rogers Communications, Inc (Class B)		9,821
	3,479,100		Singapore Telecommunications Ltd		8,245
	1,989,275	*	Sprint Corp		13,010
	17,350		Swisscom AG.		7,869
	2,071		Tele2 AB (B Shares)		25
	130,517		Telenor ASA		2,552
	168,403		TeliaSonera AB		772
	779,160		Telstra Corp Ltd		1,795
	14,166		TELUS Corp		522
	6,925,372		Vodafone Group plc		14,839
	345,199	*	Vonage Holdings Corp		4,888
	308,391	*	Zayo Group Holdings, Inc		10,707
			TOTAL TELECOMMUNICATION SERVICES		153,849
TRANSPORTATION - 1.8%
	27,025		Aeroports de Paris		6,085
	57,900	e	All Nippon Airways Co Ltd		2,023
	60		Amerco, Inc		21
	4,904		Arkansas Best Corp		238
	293,213		Auckland International Airport Ltd		1,419
	11,737	*	Avis Budget Group, Inc		377
	196,808		Canadian National Railway Co		17,660
	58,600		Central Japan Railway Co		12,200
	612		CH Robinson Worldwide, Inc		60
	307,314		CSX Corp		22,757
	252,046		Delta Air Lines, Inc		14,576
	313,413		Deutsche Post AG.		11,143
	124,500		East Japan Railway Co		11,565
	12,132	*	Echo Global Logistics, Inc		376
	813		Expeditors International of Washington, Inc		60
	33,952		Fraport AG. Frankfurt Airport Services Worldwide		2,997
	10,552	*	Genesee & Wyoming, Inc (Class A)		960

417

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	80,600		Hankyu Hanshin Holdings, Inc	$	2,858
	33,090	*,e	Hertz Global Holdings, Inc		540
	592		Kansas City Southern Industries, Inc		67
	9,600		Kintetsu Corp		386
	723		Kuehne & Nagel International AG.		115
	459		Landstar System, Inc		56
	65,400	e	Mitsui OSK Lines Ltd		1,908
	1,407,101		MTR Corp		7,400
	23,078	e	Nippon Yusen Kabushiki Kaisha		434
	82,744		Norfolk Southern Corp		14,935
	42,500	e	Odakyu Electric Railway Co Ltd		1,005
	5,634		Ryder System, Inc		412
	185,000		Singapore Airlines Ltd		1,318
	304,949		Southwest Airlines Co		19,044
	15,030	*	Spirit Airlines, Inc		706
	71,470		Sydney Airport		356
	75,800		Tokyu Corp		1,386
	1,122,669		Transurban Group (ASE)		9,098
	302,271		Union Pacific Corp		49,219
	368,329		United Parcel Service, Inc (Class B)		43,002
	200		West Japan Railway Co		14
	8,260	*	YRC Worldwide, Inc		74
			TOTAL TRANSPORTATION		258,850
UTILITIES - 1.8%
	283,455		American Electric Power Co, Inc		20,091
	40,463		American Water Works Co, Inc		3,560
	500,415		APA Group (ASE)		3,609
	4,270		Aqua America, Inc		158
	7,166		Avista Corp		362
	332,200		Chubu Electric Power Co, Inc		5,032
	5,605		CMS Energy Corp		275
	258,611		Consolidated Edison, Inc		19,704
	482,196		Dominion Resources, Inc		33,889
	1,246		DTE Energy Co		136
	117,711		Edison International		7,967
	1,422,424		Enel S.p.A.		7,271
	10,425		Energias de Portugal S.A.		38
	188,278		Eversource Energy		11,568
	112,045		Fortis, Inc		3,633
	59,506		Gas Natural SDG S.A.		1,622
	4,945,147		Hong Kong & China Gas Ltd		9,802
	103,000		Hong Kong Electric Holdings Ltd		716
	1,903,650		Iberdrola S.A.		13,982
	17,899		Idacorp, Inc		1,776
	142,000		Kyushu Electric Power Co, Inc		1,716
	4,730		MDU Resources Group, Inc		122
	644,718		Meridian Energy Ltd		1,404
	1,183,909		National Grid plc		12,228
	6,499		NiSource, Inc		162
	34,542	g	Orsted AS		2,347
	3,980		Pinnacle West Capital Corp		315
	145,529		Public Service Enterprise Group, Inc		7,682

418

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

	SHARES		COMPANY				VALUE (000)
	557,558		Scottish & Southern Energy plc				$	8,326
	178,044		Sempra Energy					20,252
	35,973	e	South Jersey Industries, Inc					1,269
	680,000		Southern Co					29,648
	32,615		Terna Rete Elettrica Nazionale S.p.A.					174
	67,058		Tokyo Gas Co Ltd					1,649
	610,836		United Utilities Group plc					5,607
	980		Vectren Corp					70
	145,186		WEC Energy Group, Inc					9,693
	300,051		Xcel Energy, Inc					14,165
			TOTAL UTILITIES					262,020
			TOTAL COMMON STOCKS					8,410,148
			(Cost $6,354,324)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	233,115	*	Federal Home Loan Mortgage Corp					1,242
	740,991	*	Federal National Mortgage Association					4,083
	14,500		M&T Bank Corp					14,790
			TOTAL BANKS					20,115
			TOTAL PREFERRED STOCKS					20,115
			(Cost $38,865)
RIGHTS / WARRANTS - 0.0%
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	38,808	*,†,m	Media General, Inc					0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					0
			TOTAL RIGHTS / WARRANTS					0
			(Cost $0)
PRINCIPAL			ISSUER	RATE		MATURITY DATE
SHORT-TERM INVESTMENTS - 2.0%
TREASURY DEBT - 0.2%
$	17,750,000		United States Treasury Bill	1.930	%	10/04/18		17,747
			TOTAL TREASURY DEBT					17,747
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.8%
	258,428,107	c	State Street Navigator Securities Lending Government Money Market Portfolio					258,428
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					258,428
			TOTAL SHORT-TERM INVESTMENTS					276,175
			(Cost $276,175)
			TOTAL INVESTMENTS - 101.1%					14,326,942
			(Cost $12,403,809)
			OTHER ASSETS & LIABILITIES, NET - (1.1)%					(161,346)
			NET ASSETS - 100.0%				$	14,165,596

419

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

Abbreviation(s):
ADR	American Depositary Receipt
LIBOR	London Interbank Offered Rates
M	Month
OTC	Over The Counter
REIT	Real Estate Investment Trust

*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
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 $248,752,000.
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 9/30/18, the aggregate value of these securities was $1,209,618,000 or 8.5% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security 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.
	Cost amounts are in thousands.

420

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

COLLEGE RETIREMENT EQUITIES FUND

MONEY MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2018

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 99.9%
GOVERNMENT AGENCY DEBT - 58.6%
$	10,000,000	Federal Agricultural Mortgage Corp (FAMC)	0.010	%	10/02/18	$	9,999
	15,000,000	FAMC	0.010		10/26/18		14,979
	13,000,000	FAMC	0.010		11/19/18		12,964
	13,035,000	FAMC	0.010		12/03/18		12,988
	12,500,000	Federal Farm Credit Bank (FFCB)	0.010		10/01/18		12,500
	66,000,000	FFCB	0.010		10/04/18		65,989
	36,500,000	FFCB	0.010		10/05/18		36,492
	20,000,000	FFCB	0.010		10/10/18		19,990
	15,000,000	FFCB	0.010		10/12/18		14,991
	35,000,000	FFCB	0.010		10/15/18		34,974
	47,000,000	FFCB	0.010		10/26/18		46,935
	10,000,000	FFCB	0.010		11/01/18		9,983
	1,000,000	FFCB	0.010		11/02/18		998
	27,000,000	FFCB	0.010		11/09/18		26,940
	20,000,000	FFCB	0.010		11/19/18		19,946
	15,000,000	FFCB	0.010		11/21/18		14,956
	12,070,000	FFCB	0.010		11/26/18		12,031
	13,750,000	FFCB	0.010		11/27/18		13,704
	32,000,000	FFCB	0.010		11/28/18		31,894
	30,000,000	FFCB	0.010		11/30/18		29,896
	52,710,000	FFCB	0.010		12/04/18		52,517
	43,000,000	FFCB	0.010		12/10/18		42,822
	39,965,000	FFCB	0.010		12/11/18		39,798
	8,000,000	FFCB	0.010		01/07/19		7,953
	5,000,000	FFCB	0.010		01/11/19		4,970
	5,000,000	FFCB	0.010		01/18/19		4,968
	48,000,000	FFCB	0.010		02/08/19		47,617
	24,000,000	FFCB	0.010		02/14/19		23,792
	10,000,000	FFCB	0.010		02/19/19		9,910
	20,000,000	FFCB	0.010		02/27/19		19,816
	23,000,000	FFCB	0.010		03/07/19		22,768
	8,000,000	FFCB	0.010		03/21/19		7,913
	31,000,000	Federal Home Loan Bank (FHLB)	0.010		10/01/18		31,000
	28,925,000	FHLB	0.010		10/03/18		28,922
	26,800,000	FHLB	0.010		10/04/18		26,796
	79,000,000	FHLB	0.010		10/05/18		78,983
	40,000,000	FHLB	0.010		10/09/18		39,983
	28,900,000	FHLB	0.010		10/10/18		28,886
	92,050,000	FHLB	0.010		10/12/18		91,995
	40,000,000	FHLB	0.010		10/15/18		39,969
	59,200,000	FHLB	0.010		10/16/18		59,152
	114,142,000	FHLB	0.010		10/17/18		114,040
	75,285,000	FHLB	0.010		10/19/18		75,211
	9,160,000	FHLB	0.010		10/23/18		9,149
	79,700,000	FHLB	0.010		10/24/18		79,598
	2,750,000	FHLB	0.010		10/26/18		2,746

421

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	102,800,000	FHLB	0.010	%	10/29/18	$	102,640
	109,960,000	FHLB	0.010		10/30/18		109,783
	47,400,000	FHLB	0.010		10/31/18		47,319
	42,905,000	FHLB	0.010		11/02/18		42,827
	51,985,000	FHLB	0.010		11/06/18		51,881
	130,857,000	FHLB	0.010		11/07/18		130,583
	92,535,000	FHLB	0.010		11/09/18		92,330
	20,025,000	FHLB	0.010		11/13/18		19,975
	53,700,000	FHLB	0.010		11/14/18		53,564
	124,136,000	FHLB	0.010		11/16/18		123,807
	15,510,000	FHLB	0.010		11/20/18		15,466
	75,360,000	FHLB	0.010		11/21/18		75,139
	25,000,000	FHLB	0.010		11/26/18		24,918
	45,285,000	FHLB	0.010		11/27/18		45,137
	98,000,000	FHLB	0.010		11/28/18		97,669
	16,640,000	FHLB	0.010		11/30/18		16,583
	44,450,000	FHLB	0.010		12/03/18		44,285
	43,638,000	FHLB	0.010		12/04/18		43,472
	77,385,000	FHLB	0.010		12/05/18		77,088
	26,000,000	FHLB	0.010		12/06/18		25,897
	99,100,000	FHLB	0.010		12/07/18		98,709
	30,585,000	FHLB	0.010		12/10/18		30,463
	60,000,000	FHLB	0.010		12/11/18		59,746
	97,000,000	FHLB	0.010		12/12/18		96,586
	114,307,000	FHLB	0.010		12/14/18		113,807
	54,040,000	FHLB	0.010		12/17/18		53,794
	58,260,000	FHLB	0.010		12/18/18		57,990
	15,000,000	FHLB	0.010		12/21/18		14,927
	24,755,000	FHLB	0.010		12/26/18		24,630
	6,120,000	FHLB	0.010		01/02/19		6,087
	30,000,000	FHLB	0.010		01/04/19		29,830
	7,640,000	FHLB	0.010		01/07/19		7,595
	9,785,000	FHLB	0.010		01/22/19		9,717
	20,000,000	FHLB	0.010		01/29/19		19,851
	20,000,000	FHLB	0.010		02/11/19		19,834
	10,000,000	FHLB	0.010		02/19/19		9,913
	15,000,000	FHLB	0.010		02/27/19		14,862
	28,000,000	FHLB	0.010		03/06/19		27,724
	13,000,000	FHLB	0.010		03/08/19		12,869
	8,000,000	FHLB	0.010		03/15/19		7,916
	38,500,000	Federal Home Loan Mortgage Corp (FHLMC)	0.010		10/02/18		38,498
	35,700,000	FHLMC	0.010		10/03/18		35,696
	87,460,000	FHLMC	0.010		10/09/18		87,422
	33,800,000	FHLMC	0.010		10/11/18		33,782
	20,000,000	FHLMC	0.010		10/19/18		19,980
	65,000,000	FHLMC	0.010		10/22/18		64,926
	70,000,000	FHLMC	0.010		10/26/18		69,904
	65,000,000	FHLMC	0.010		11/02/18		64,886
	54,260,000	FHLMC	0.010		11/05/18		54,155
	74,950,000	FHLMC	0.010		11/06/18		74,800
	29,800,000	FHLMC	0.010		11/13/18		29,728
	115,315,000	FHLMC	0.010		11/20/18		114,992
	30,000,000	FHLMC	0.010		11/27/18		29,902
	29,840,000	FHLMC	0.010		12/03/18		29,732

422

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

					MATURITY	VALUE
PRINCIPAL		ISSUER	RATE		DATE	(000)
$	107,561,000	FHLMC	0.010	%	12/19/18	$	107,062
	57,320,000	FHLMC	0.010		12/21/18		57,048
	20,000,000	FHLMC	0.010		12/24/18		19,902
	19,115,000	FHLMC	0.010		01/02/19		19,011
	4,000,000	FHLMC	0.010		01/18/19		3,973
	25,000,000	FHLMC	0.010		01/22/19		24,830
	6,220,000	FHLMC	0.010		01/23/19		6,177
	115,000,000	Federal National Mortgage Association (FNMA)	0.010		10/01/18		115,000
	61,440,000	FNMA	0.010		10/02/18		61,437
	51,015,000	FNMA	0.010		10/03/18		51,010
	12,815,000	FNMA	0.010		10/05/18		12,812
	89,160,000	FNMA	0.010		10/10/18		89,117
	50,000,000	FNMA	0.010		10/15/18		49,962
	70,000,000	FNMA	0.010		10/16/18		69,943
	18,905,000	FNMA	0.010		10/17/18		18,888
	40,000,000	FNMA	0.010		10/19/18		39,961
	50,000,000	FNMA	0.010		10/22/18		49,943
	35,500,000	FNMA	0.010		10/23/18		35,458
	57,500,000	FNMA	0.010		10/24/18		57,427
	10,000,000	FNMA	0.010		10/29/18		9,985
	25,000,000	FNMA	0.010		10/31/18		24,958
	88,300,000	FNMA	0.010		11/05/18		88,128
	87,170,000	FNMA	0.010		11/13/18		86,959
	30,000,000	FNMA	0.010		11/14/18		29,925
	8,000,000	FNMA	0.010		11/16/18		7,979
	75,000,000	FNMA	0.010		11/19/18		74,790
	25,000,000	FNMA	0.010		11/21/18		24,928
	73,080,000	FNMA	0.010		11/26/18		72,842
	16,000,000	FNMA	1.625		11/27/18		15,989
	2,485,000	FNMA	0.010		11/28/18		2,477
	21,965,000	FNMA	0.010		12/05/18		21,881
	8,185,000	FNMA	0.010		12/10/18		8,151
	5,000,000	FNMA	0.010		12/12/18		4,979
	10,000,000	FNMA	0.010		12/19/18		9,953
	10,000,000	Tennessee Valley Authority (TVA)	0.010		10/09/18		9,995
	20,000,000	TVA	0.010		10/16/18		19,983
		TOTAL GOVERNMENT AGENCY DEBT					5,542,902
TREASURY DEBT - 21.6%
	152,535,000	United States Treasury Bill	0.010		10/04/18		152,511
	125,000,000	United States Treasury Bill	0.010		10/11/18		124,943
	200,135,000	United States Treasury Bill	0.010		10/18/18		199,951
	95,000,000	United States Treasury Bill	0.010		10/25/18		94,875
	50,000,000	United States Treasury Bill	0.010		11/01/18		49,915
	150,000,000	United States Treasury Bill	0.010		11/08/18		149,730
	152,000,000	United States Treasury Bill	0.010		11/15/18		151,621
	40,000,000	United States Treasury Bill	0.010		11/23/18		39,882
	137,990,000	United States Treasury Bill	0.010		11/29/18		137,532
	100,000,000	United States Treasury Bill	0.010		12/06/18		99,677
	100,285,000	United States Treasury Bill	0.010		12/13/18		99,860
	80,235,000	United States Treasury Bill	0.010		12/20/18		79,862
	60,000,000	United States Treasury Bill	0.010		12/27/18		59,693
	80,000,000	United States Treasury Bill	0.010		01/03/19		79,556

423

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	83,625,000		United States Treasury Bill		0.010	%	01/10/19	$	83,122
	86,465,000		United States Treasury Bill		0.010		01/17/19		85,901
	90,375,000		United States Treasury Bill		0.010		01/24/19		89,737
	30,000,000		United States Treasury Bill		0.010		02/07/19		29,767
	30,000,000		United States Treasury Bill		0.010		02/14/19		29,748
	65,455,000		United States Treasury Bill		0.010		02/21/19		64,879
	1,660,000		United States Treasury Bill		0.010		02/28/19		1,644
	8,000,000		United States Treasury Note		0.875		10/15/18		7,997
	39,985,000		United States Treasury Note		1.000		11/30/18		39,910
	30,055,000		United States Treasury Note		1.250		12/15/18		30,021
	30,000,000		United States Treasury Note		1.500		12/31/18		29,948
	10,000,000		United States Treasury Note		1.125		01/31/19		9,964
	25,000,000		United States Treasury Note		1.250		01/31/19		24,915
			TOTAL TREASURY DEBT						2,047,161
VARIABLE RATE SECURITIES - 19.7%
	50,000,000	i	Federal Agricultural Mortgage Corp (FAMC)	LIBOR 1 M - 0.100%	2.004		11/01/18		50,000
	25,000,000	i	FAMC	LIBOR 1 M - 0.030%	2.074		11/01/18		25,000
	25,000,000	i	FAMC	LIBOR 1 M - 0.120%	2.048		11/19/18		25,000
	30,000,000	i	FAMC	EFFR + 0.100%	2.280		11/30/18		30,000
	30,000,000	i	FAMC	EFFR + 0.120%	2.300		12/28/18		30,000
	40,000,000	i	FAMC	EFFR + 0.020%	2.200		01/25/19		40,000
	31,000,000	i	FAMC	LIBOR 1 M - 0.075%	2.039		02/04/19		31,000
	25,000,000	i	FAMC	LIBOR 1 M - 0.105%	1.999		03/01/19		25,000
	25,000,000	i	FAMC	EFFR + 0.010%	2.190		03/01/19		25,000
	25,000,000	i	FAMC	EFFR + 0.080%	2.260		03/01/19		25,000
	40,000,000	i	FAMC	EFFR + 0.010%	2.190		04/01/19		40,000
	30,000,000	i	FAMC	LIBOR 1 M - 0.050%	2.054		07/01/19		30,000
	50,000,000	i	FAMC	EFFR + 0.150%	2.330		09/27/19		50,000
	44,500,000	i	FAMC	EFFR + 0.120%	2.300		02/26/20		44,500
	50,000,000	i	Federal Farm Credit Bank (FFCB)	LIBOR 3 M - 0.150%	2.169		11/14/18		49,999
	13,000,000	i	FFCB	US Treasury Bill 3 M + 0.050%	2.242		12/05/18		13,001
	45,000,000	i	FFCB	FRED - 3.020%	2.230		01/14/19		45,014
	20,000,000	i	FFCB	LIBOR 3 M - 0.160%	2.179		01/15/19		20,000
	50,000,000	i	FFCB	LIBOR 1 M - 0.110%	2.106		01/25/19		50,001
	33,700,000	i	FFCB	FRED - 3.020%	2.230		03/27/19		33,718
	50,000,000	i	FFCB	LIBOR 1 M - 0.145%	1.928		03/29/19		49,999
	7,500,000	i	FFCB	EFFR + 0.000%	2.180		04/15/19		7,498
	50,000,000	i	FFCB	LIBOR 1 M - 0.125%	1.996		06/07/19		50,000
	55,000,000	i	FFCB	FRED - 3.080%	2.170		06/27/19		55,005
	50,000,000	i	FFCB	FRED - 3.080%	2.170		08/16/19		49,996
	30,000,000	i	FFCB	EFFR - 0.015%	2.165		09/20/19		30,000
	57,500,000	i	FFCB	FRED - 3.075%	2.175		09/25/19		57,455
	50,000,000	i	FFCB	FRED - 3.080%	2.170		10/10/19		49,954
	40,000,000	i	FFCB	US Treasury Bill 3 M + 0.050%	2.242		10/18/19		40,000
	10,000,000	i	FFCB	US Treasury Bill 3 M + 0.050%	2.242		11/04/19		10,000
	47,000,000	i	FFCB	FRED - 3.065%	2.185		12/26/19		46,977
	50,000,000	i	FFCB	US Treasury Bill 3 M + 0.055%	2.247		01/27/20		50,000
	50,000,000	i	FFCB	FRED - 2.980%	2.270		02/20/20		50,000
	21,700,000	i	FFCB	FRED - 2.870%	2.380		05/29/20		21,700

424

COLLEGE RETIREMENT EQUITIES FUND - Money Market Account

				REFERENCE			MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE		DATE	(000)
$	50,000,000	i	FFCB	US Treasury Bill 3 M + 0.045%	2.237	%	08/17/20	$	49,995
	72,500,000	i	Federal Home Loan Bank (FHLB)	LIBOR 3 M - 0.200%	2.133		01/18/19		72,501
	20,000,000	i	FHLB	LIBOR 3 M - 0.230%	2.108		02/13/19		20,000
	50,000,000	i	FHLB	LIBOR 1 M - 0.040%	2.172		02/22/19		50,011
	38,000,000	i	FHLB	LIBOR 3 M - 0.235%	2.088		03/06/19		37,992
	45,000,000	i	FHLB	LIBOR 1 M - 0.070%	2.069		07/12/19		45,000
	50,000,000	i	Federal Home Loan Mortgage Corp (FHLMC)	LIBOR 1 M - 0.095%	2.073		06/19/19		50,000
	12,000,000	i	FHLMC	LIBOR 3 M - 0.165%	2.172		07/05/19		12,004
	80,900,000	i	FHLMC	LIBOR 1 M - 0.100%	2.033		08/08/19		80,901
	30,000,000	i	FHLMC	LIBOR 3 M - 0.225%	2.086		08/27/19		30,000
	35,000,000	i	Federal National Mortgage Association (FNMA)	LIBOR 1 M + 0.000%	2.242		02/28/19		35,022
	50,000,000	i	United States Treasury Floating Rate Note	US Treasury Bill 3 M + 0.170%	2.362		10/31/18		50,010
	30,000,000	i	United States Treasury Floating Rate Note	US Treasury Bill 3 M + 0.000%	2.192		01/31/20		30,000
	50,000,000	i	United States Treasury Floating Rate Note	US Treasury Bill 3 M + 0.033%	2.225		04/30/20		50,008
			TOTAL VARIABLE RATE SECURITIES						1,864,261
			TOTAL SHORT-TERM INVESTMENTS						9,454,324
			(Cost $9,454,324)
			TOTAL INVESTMENTS - 99.9%						9,454,324
			(Cost $9,454,324)
			OTHER ASSETS & LIABILITIES, NET - 0.1%						4,700
			NET ASSETS - 100.0%					$	9,459,024

	Abbreviation(s):
	EFFR	Effective Federal Funds Rate
	FRED	Federal Bank Prime Loan Rate
	LIBOR	London Interbank Offered Rates
	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.

425

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 U.S. 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”) and in conformity with the applicable rules and regulations of the SEC related to interim filings. Accordingly, the Schedules of Investments does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of financial statement notes, please refer to the most recently filed annual or semi-annual report.

The preparation of the Schedules of Investments requires the use of estimates made by management. Actual results may differ from those estimates. The Funds 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 August 2018, FASB issued ASU 2018-13, Fair Value Measurement: Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurements. ASU 2018-13 modifies the disclosures required for fair value measurements. This guidance is effective for fiscal years beginning after December 15, 2019. Management is currently evaluating the impact of this guidance.

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-CEN and N-PORT, and amends Regulation S-X disclosures related to derivatives and other disclosures in the financial statements and various filings. The requirements of this final rule in relation to Form N-CEN must be complied with by June 1, 2018. In December 2017, the Commission issued Temporary Final Rule Release No. 33-10442, which delayed the filing requirements related to Form N-PORT from June 1, 2018 to April 2019, but still requires the Accounts to maintain the data that would have been filed on Form N-PORT during the deferral period. Form N-CEN and the data requirements of Form N-PORT were implemented on June 1, 2018 and did not have an impact on net assets or results of operations.

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, in relation to the implementation of the liquidity risk management program and the 15% illiquid investment limit, must be adopted by December 1, 2018. In February 2018, the Commission issued Release No. IC-33142, which delayed the compliance requirements related to liquidity classification, highly liquid investment minimums, and board approval of the liquidity risk management programs from December 1, 2018 to June 1, 2019. Management is currently assessing the impact of this rule to the Accounts’ financial statements and various filings.

426

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

In August 2018, the Commission issued Final Rule Release No. 33-10532, Disclosure Update and Simplification. This final rule amends certain disclosure requirements that have become redundant, duplicative, overlapping, outdated, or superseded, in light of other Commission disclosure requirements, U.S. GAAP or changes in the information environment. This rule eliminates the requirements for accounts to present the components of distributable earnings on the balance sheet and parenthetically on the statement of changes in net assets. The final rule is effective November 5, 2018. Management will implement the above changes for year ends occurring after the effective date of this issuance.

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.

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 traded over the counter and listed 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.

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

427

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

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.

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, 2018, there were no material transfers between levels by the Accounts.

As of September 30, 2018, 100% of the value of investments in the Inflation-Linked Bond Account and the Money Market Account were valued based on Level 2 inputs.

The following table summarizes the market value of the Accounts’ investments as of September 30, 2018, based on the inputs used to value them (dollar amounts are in thousands):

Account	Level 1			Level 2			Level 3		Total
Stock
Equity investments:
Consumer discretionary	$	11,361,852		$	4,683,981		$	375	$	16,046,208
Consumer staples		4,894,103			3,175,693			56		8,069,852
Energy		5,353,774			2,492,275			932		7,846,981
Financials		12,038,270			7,357,451			267		19,395,988
Health care		12,823,984			3,044,632			125		15,868,741
Industrials		9,250,834			4,497,752			177		13,748,763
Information technology		23,288,048			4,072,300			188		27,360,536
Materials		2,789,607			3,304,332			2,310		6,096,249
Real estate		2,579,365			1,606,613			6,562		4,192,540
Telecommunication services		1,242,601			1,232,007			13		2,474,621
Utilities		2,152,609			997,949			464		3,151,022
Government bonds		—			288			—		288
Equity-linked notes		—			6,388			—		6,388
Short-term investments		—			2,773,025			—		2,773,025
Purchased options**		4,039			—			—		4,039
Written options**		(2,534	)		—			—		(2,534	)
Futures contracts**		564			—			—		564
Forward foreign currency contracts**		—			(66	)		—		(66	)
Total	$	87,777,116		$	39,244,620		$	11,469	$	127,033,205
Global Equities
Equity investments:
Asia	$	219,547		$	2,001,055		$	12	$	2,220,614
Australasia		—			291,084			—		291,084
Europe		63,838			3,205,359			—		3,269,197
North America		12,419,335			532,253			—		12,951,588
All other equity investments*		243,128			2,137,706			14		2,380,848
Short-term investments		—			625,302			—		625,302
Written options**		(362	)		—			—		(362	)
Futures contracts**		4,415			—			—		4,415
Total	$	12,949,901		$	8,792,759		$	26	$	21,742,686

428

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

Account	Level 1		Level 2			Level 3			Total
Growth
Equity investments:
Consumer discretionary	$	4,791,883	$	259,231		$	—		$	5,051,114
Consumer staples		942,490		62,254			—			1,004,744
Health care		3,896,395		161,970			—			4,058,365
Industrials		2,908,570		196,510			—			3,105,080
Information technology		13,299,920		45,151			—			13,345,071
Telecommunication services		14,153		118,271			—			132,424
All other equity investments*		1,857,617		—			—			1,857,617
Short-term investments		181,658		54,996			—			236,654
Total	$	27,892,686	$	898,383		$	—		$	28,791,069
Equity Index
Equity investments:
Financials	$	2,749,032	$	6		$	—		$	2,749,038
Health care		2,921,411		—			12			2,921,423
Materials		572,859		40			—			572,899
All other equity investments *		13,757,484		—			—			13,757,484
Short-term investments		369,723		92,239			—			461,962
Futures contracts**		214		—			—			214
Total	$	20,370,723	$	92,285		$	12		$	20,463,020
Bond Market
Bank loan obligations	$	—	$	41,508		$	—		$	41,508
Corporate bonds		—		4,194,766			—			4,194,766
Government bonds		—		6,092,035			—			6,092,035
Structured assets		—		2,599,169			0	^		2,599,169
Common stocks		376		—			—			376
Preferred stocks		10,922		—			—			10,922
Rights / Warrants		—		26			—			26
Short-term investments		—		56,194			—			56,194
Forward foreign currency contracts**		—		289			—			289
Swap contracts**		—		(322	)		—			(322	)
Total	$	11,298	$	12,983,665		$	0	^	$	12,994,963
Social Choice
Equity investments:
Consumer discretionary	$	730,056	$	311,227		$	—		$	1,041,283
Consumer staples		374,249		233,017			—			607,266
Energy		324,434		170,986			—			495,420
Financials		892,018		578,774			—			1,470,792
Health care		877,888		242,883			—			1,120,771
Industrials		668,214		334,333			—			1,002,547
Information technology		1,392,207		158,809			—			1,551,016
Materials		198,550		226,140			—			424,690
Real estate		220,210		80,399			—			300,609
Telecommunication services		57,199		96,650			—			153,849
Utilities		182,862		79,158			—			262,020
Bank loan obligations		—		34,521			11,854			46,375
Corporate bonds		—		2,039,598			—			2,039,598
Government bonds		—		2,946,469			30,426			2,976,895
Structured assets		—		545,892			11,744			557,636
Short-term investments		258,428		17,747			—			276,175
Total	$	6,176,315	$	8,096,603		$	54,024		$	14,326,942

^	Amount represents less than $1,000.
*	For detailed categories, see the accompanying Schedules of Investments.
**	Derivative instruments, excluding purchased options, are not reflected in the market value of portfolio investments.

429

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

Note 3—derivative instruments

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

Futures contracts: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. The Accounts use futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract, and variation margin receipts or payments are settled daily reflecting changes in the value of the futures contracts. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts or if the counterparties do not perform in accordance with contractual provisions. With futures contracts, there is minimal counterparty credit risk to the Accounts since futures contracts are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange-traded funds, guarantees the futures contracts against default. The futures contracts outstanding as of September 30, 2018 are disclosed in the Schedules of Investments.

Options: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. Options can be settled either directly with the counterparty (over the counter) or through a central clearing house (exchange traded). 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 may arise upon entering into over the counter options from the potential of default by counterparty. Also, 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, 2018 are disclosed in the Schedules of Investments.

Credit default swap contracts: Certain Accounts are subject to credit risk in the normal course of pursuing their investment objectives. Credit default swaps can be settled either directly with the counterparty (bilateral) or through a central clearinghouse (centrally cleared). A credit default swap is a contract between a buyer and a seller of protection against pre-defined credit events for the reference entity. As a seller in a credit default swap contract, the Accounts are required to pay an agreed upon amount to the counterparty with the occurrence of a specified credit event, such as certain bankruptcies related to an underlying credit instrument, index, or issuer which would likely result in a loss to the Accounts. The agreed upon amount approximates the notional value of the swap and is estimated to be the maximum potential future payment that the Accounts could be required to make under the contract. In return, the Accounts receive from the counterparty a periodic stream of payments over the term of the contract provided that no credit event has occurred. If no credit event occurs, the Accounts keep the stream of payments with no payment obligations. When the Accounts sell a credit default swap contract it will cover its commitment. This may be achieved by, among other methods, maintaining cash or liquid assets in a segregated account equal to the aggregate notional value of the reference entities for all outstanding credit default swap contracts sold by the Accounts.

Certain Accounts may also buy credit default swap contracts, in which case the Accounts function as the counterparty referenced above. This involves the risk that the contract may expire worthless. Bilateral swaps involve counterparty risk that the seller may fail to satisfy its payment obligations to the Accounts with the occurrence of a credit event. Centrally cleared swaps have minimal counterparty credit risk to the Accounts as they are entered into with a central clearinghouse which guarantees the swap against default. Bilateral credit default swaps are valued daily, and any change in the value of the swaps is reflected separately as a change in unrealized appreciation (depreciation). For centrally cleared swaps, initial margin deposits are made, and variation margin payments are made or received reflecting daily changes in the value of the swap contract. Under the terms of the credit default swap contracts, the Accounts receive or make quarterly payments based on a payment rate on a fixed notional amount. These payments are recorded as a realized gain or loss. Payments received or made as a result of a credit event or termination of the contract are recognized as realized gains or losses.

The Accounts (other than the Money Market Account) invest in credit default swaps to hedge or manage the risks associated with assets held in the Accounts and/or to facilitate the implementation of portfolio strategies to seek to increase the total return. The credit default swap contracts outstanding as of September 30, 2018 are disclosed in the Schedules of Investments.

430

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

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. There are no total return swap contracts outstanding as of September 30, 2018.

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, 2018 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	12/31/17			cost		proceeds		gain (loss)			(depreciation)			income		9/30/18			9/30/18
Stock Account
Common Stock
Capital Goods
Terex Corp	$	79,743	‡	$	213,541	$	56,246	$	19,666		$	(36,171	)	$	525		5,525,747		$	220,533
Materials
Tronox Ltd		166,864			36,836		6,363		1,887			(83,226	)		1,283		9,706,950			115,998
Software & Services
GreenSky, Inc		—	§		80,831		27,944		(11,517	)		(10,416	)		—		1,719,641	§		30,954	§
Total	$	246,607		$	331,208	$	90,553	$	10,036		$	(129,813	)	$	1,808	$	16,952,338		$	367,485

‡	At December 31, 2017, the issuer was not an affiliated company of the Account.
§	At December 31, 2017 and September 30, 2018, the issuer was not an affiliated company of the Account, but it was affiliated during the period.

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, 2018, 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 $162,999,929 related to equity securities and $85,751,944 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.

431

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

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

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

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, 2018, 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	Tax cost		Gross unrealized appreciation		Gross unrealized (depreciation)			Net unrealized appreciation (depreciation)
Stock	$	110,174,313	$	21,148,734	$	(4,289,841	)	$	16,858,893
Global Equities		12,403,559		3,349,002		(708,316	)		2,640,686
Growth		20,500,932		8,572,602		(282,466	)		8,290,136
Equity Index		8,974,016		11,994,168		(505,164	)		11,489,004
Bond Market		13,345,583		41,327		(389,218	)		(347,891	)
Inflation-Linked Bond		6,363,133		153,897		(126,944	)		26,953
Social Choice		12,403,809		2,329,497		(406,364	)		1,923,133

For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as upfront fees or premiums exchanged on derivatives and any amounts unrealized for income statement reporting but realized in income and/or capital gains for tax reporting.

432

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, 2018	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, 2018	By:	/s/Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and Executive
		Vice President
		(principal executive officer)

Dated: November 15, 2018	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

EX-99.CERT

Exhibit 3(a)

CERTIFICATION

I, Carol W. Deckbar, certify that:

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

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

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

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

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

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

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

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

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

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

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

Dated:  November 15, 2018	By:	/s/Carol W. Deckbar
		Carol W. Deckbar
		Principal Executive Officer and
		Executive Vice President
		(principal executive officer)

Exhibit 3(b)

CERTIFICATION

I, Glenn E. Brightman, certify that:

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

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

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

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

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

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

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

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

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

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

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

Dated:  November 15, 2018	By:	/s/Glenn E. Brightman
		Glenn E. Brightman
		Executive Vice President,
		Chief Financial Officer and
		Principal Accounting Officer
		(principal financial officer)