UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT
INVESTMENT COMPANIES
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)
Rachael M. Zufall, 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: June 30, 2022
Item 1. Reports to Stockholders.
Semiannual Report ■ June 30, 2022
College Retirement
Equities Fund
The semiannual report contains the financial statements (unaudited).
| Account name | Class R1 | Class R2 | Class R3 | |||
| Stock Account | QCSTRX | QCSTPX | QCSTIX | |||
| Global Equities Account | QCGLRX | QCGLPX | QCGLIX | |||
| Growth Account | QCGRRX | QCGRPX | QCGRIX | |||
| Equity Index Account | QCEQRX | QCEQPX | QCEQIX | |||
| Core Bond Account (formerly Bond Market Account) | QCBMRX | QCBMPX | QCBMIX | |||
| Inflation-Linked Bond Account | QCILRX | QCILPX | QCILIX | |||
| Social Choice Account | QCSCRX | QCSCPX | QCSCIX | |||
| Money Market Account | QCMMRX | QCMMPX | QCMMIX |
Contents
This semiannual report contains information about the CREF variable annuity accounts and describes their results for the six months ended June 30, 2022. The report contains four main sections:
| • | A letter to participants from Colbert G. Narcisse, President and Chief Executive Officer of CREF. | |
| • | The account performance section compares each account’s investment returns with those of its benchmark index. | |
| • | The summary portfolios of investments list the industries and types of securities in which each account had investments as of June 30, 2022. | |
| • | The financial statements provide detailed information about the operations and financial condition of each account. |
The views and opinions expressed in this report are through the end of the period, as stated on the cover of this report. They are subject to change at any time based on a variety of factors. As such, they are not guarantees of future performance or investment results and should not be taken as investment advice. To see the risks of investing in any account, please read the latest prospectus.
As always, you should carefully consider the investment objectives, risks, charges and expenses of any account before investing. For a prospectus that contains this and other important information, please visit our website at TIAA.org, or call 877-518-9161. We urge you to read the prospectus carefully before investing.
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Domestic and international stock markets lost ground for the six-month period, struggling amid persistent inflation and rising interest rates. The U.S. economy contracted during the first half of 2022, although consumer spending remained positive. Countries in the 19-nation euro area, as well as China and the United Kingdom, all expanded during the first three months of the year, but major global central banks tightened monetary policy in response to concerns about inflation. The U.S. Federal Reserve increased the federal funds target rate three times to 1.50%–1.75%. The European Central Bank said it intends to raise benchmark rates in July and likely again in September, anticipating that a “gradual but sustained” path of further increases would be appropriate. The Bank of England raised its benchmark rate four times to 1.25% during the period.
| • | The five CREF accounts with significant exposure to U.S. equities had the largest declines, ranging from –16.8% for the Social Choice Account to –31.2% for the Growth Account. | |
| • | Among fixed-income investments, the Core Bond Account (formerly the Bond Market Account) returned –11.1%, and the Inflation-Linked Bond Account returned –4.6%. | |
| • | Most accounts underperformed their benchmarks for the six-month period. All account returns are for Class R1. |
CREF performance review
In a difficult period for the financial markets, all eight CREF accounts produced negative results. Overall, bonds outperformed stocks. Among equities, international shares generally outperformed domestic stocks to a modest degree.
The Stock Account—the largest CREF account in terms of net assets—returned –20.9% and trailed its composite benchmark. The Social Choice Account, which excludes certain stocks and bonds due to environmental, social and governance criteria, returned –16.8% and lagged its composite benchmark. The Global Equities Account returned –20.9% and fell short of its benchmark, the MSCI All Country World Index. The Equity Index Account returned –21.2% and trailed the Russell 3000® Index. The Growth Account returned –31.2%, underperforming the Russell 1000® Growth Index.
Among fixed income accounts, the Core Bond Account returned –11.1%, lagging the Bloomberg U.S. Aggregate Bond Index. The Inflation-Linked Bond Account returned –4.6% but outperformed the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 1–10 Year Index. The Money Market Account, which returned 0.0% (rounded from –0.01%), slightly underperformed the iMoneyNet Money Fund Averages™—All Government. For more information regarding the performance of the CREF accounts, please see the commentaries starting on page 11.
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Stocks and bonds both posted declines For the six-month period, the domestic stock market, as represented by the Russell 3000 Index, returned –21.1%. Foreign equities, as measured by the MSCI EAFE® Index, returned –19.6%. U.S. investment-grade fixed-rate bonds, as measured by the Bloomberg U.S. Aggregate Bond Index, returned –10.4%. Yields on U.S. fixed-income securities of all maturities rose, driving bond prices lower (bond yields move in the opposite direction of prices).
Maintaining a long-term perspective Financial markets always fluctuate, but the sharp movements we have seen in 2022 can create understandable concerns for investors. In fact, volatility often results when investors process new information about the economy, interest rates and inflation, which is currently the case. While no one can predict the future performance of stocks, bonds and real estate, it’s important to keep long-term goals in mind during periods of uncertainty. We believe that a well-thought-out financial plan and a professionally managed portfolio, diversified among different asset classes, can help you stay on track to achieve your long-term investment objectives. Of course, diversification does not guarantee against market losses, and past performance cannot guarantee future results. If you have questions or concerns about your investments, we suggest that you speak with your financial advisor or call a TIAA financial consultant. To learn more, visit us at TIAA.org or call 800-842-2252. We would be pleased to help you.
/s/ Colbert G. Narcisse
Colbert G. Narcisse President and Chief Executive Officer of CREF |
Colbert G. Narcisse
|
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Information for CREF participants
Portfolio holdings
Securities and Exchange Commission (SEC) rules allow investment companies to list the top holdings of each account in their annual and semiannual reports instead of providing complete portfolio listings. CREF also files complete portfolio listings with the SEC, and they are available to the public.
You can obtain a complete list of the CREF accounts’ holdings (Schedules of Investments) as of the most recently completed fiscal quarter in the following ways:
| • | By visiting our website at TIAA.org; or | |
| • | By calling us at 800-842-2252 to request a copy, which will be provided free of charge. |
You can also obtain a complete list of the CREF accounts’ portfolio holdings as of the most recently completed fiscal quarter, and for prior quarter-ends, from our SEC Form N-CSR and Form N-PORT or Form N-MFP (for money market products only) filings. Form N-CSR filings are as of December 31 or June 30; Form N-PORT or Form N-MFP filings are as of March 31 or September 30. Copies of these forms are available:
| • | Through the Electronic Data Gathering and Retrieval System (EDGAR) on the SEC’s website at sec.gov; or | |
| • | From the SEC’s Office of Investor Education and Advocacy. | |
| Call 202-551-8090 for more information. |
Proxy voting
CREF’s ownership of stock gives it the right to vote on proxy issues of companies in which it invests. A description of our proxy voting policies and procedures can be found on our website at TIAA.org or on the SEC’s website at sec.gov. You can also call us at 800-842-2252 to request a free copy. A report of how the accounts voted during the most recently completed twelve-month period ended June 30 can be found on our website or on Form N-PX at sec.gov.
Contacting TIAA
There are three easy ways to contact us: by email, using the Contact Us link under Get Help at the top of our home page; by mail at TIAA, 730 Third Avenue, New York, NY 10017-3206; or by phone at 800-842-2252.
Account management
The CREF Accounts are managed by the portfolio management teams of TIAA-CREF Investment Management, LLC. The members of these teams are responsible for the day-to-day investment management of the accounts.
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Information for CREF participants
CREF Rules of the Fund
From time to time, CREF updates its Rules of the Fund with the New York State Department of Financial Services. Current copies of the updated Rules of the Fund can be found on the TIAA.org website at the following location: https://www.tiaa.org/public/about-tiaa/corporate-governance-leadership/document-library.
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About the accounts’ benchmarks
CREF Stock Account
The Account’s composite benchmark is a weighted average of two unmanaged indexes: the Russell 3000® Index, which measures the performance of the broad U.S. stock market, and the MSCI All Country World (ACWI) ex USA Investable Market Index (IMI), which measures the performance of small-, mid- and large-cap stocks in 46 developed- and emerging-markets nations throughout the world, excluding the United States.
The Morningstar Aggressive Target Risk Index is a broad-based securities market index for the Stock Account and has a 95% global equity market exposure and a multi-asset class exposure that is similar to the Stock Account.
CREF Global Equities Account
The Account’s benchmark is the MSCI All Country World Index (ACWI), which measures the performance of large- and mid-capitalization stocks in 23 developed-markets countries and 24 emerging-markets countries.
CREF Growth Account
The Account’s benchmark is the Russell 1000® Growth Index, a subset of the Russell 1000 Index, which measures the performance of the stocks of the 1,000 largest companies in the Russell 3000 Index, based on market capitalization. The Russell 1000 Growth Index measures the performance of those stocks of the Russell 1000 Index with higher relative forecasted growth rates and price/book ratios.
CREF Equity Index Account
The Account’s benchmark is the Russell 3000 Index, which measures the performance of the stocks of the 3,000 largest publicly traded U.S. companies, based on market capitalization. The index measures the performance of about 98% of the total market capitalization of the publicly traded U.S. equity market.
CREF Core Bond Account
The Account’s benchmark is the Bloomberg U.S. Aggregate Bond Index, which measures the performance of the domestic investment-grade fixed-rate bond market, including government and corporate securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-backed securities.
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About the accounts’ benchmarks
CREF Inflation-Linked Bond Account
The Account’s benchmark is the Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index, which measures the performance of fixed-income securities with maturities between 1 and 10 years that are adjusted for inflation, as measured by the Consumer Price Index for All Urban Consumers (CPI-U).
CREF Social Choice Account
The Account’s composite benchmark is a weighted average of three unmanaged indexes: the Russell 3000® Index, which measures the performance of the broad U.S. stock market; the Bloomberg U.S. Aggregate Bond Index, which measures the performance of the domestic investment-grade fixed-rate bond market; and the MSCI EAFE+Canada Index, which measures stock performance in 22 developed-markets nations, excluding the United States.
The Morningstar Moderate Target Risk Index is a broad-based securities market index for the Social Choice Account. The index has a multi-asset class exposure (60% global equity, 40% global fixed income) that is similar to the Social Choice Account.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses. For additional details about the benchmark indexes, please read the accounts’ latest prospectus.
London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2022. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE®,” “Russell®” and “FTSE Russell®” are trademarks of the relevant LSE Group companies and are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. This report is not approved, reviewed or produced by MSCI. EAFE stands for Europe, Australasia, Far East.
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Important information about expenses
All participants in the CREF Accounts incur ongoing costs, including management fees and other account expenses.
The expense examples that appear in this report are intended to help you understand your ongoing costs only (in U.S. dollars) and do not reflect transactional costs. The examples are designed to help you compare these ongoing costs with the ongoing costs of investing in other variable annuity accounts and mutual funds. Participants in the CREF Accounts do not incur a sales charge for purchases or other distributions.
The examples are based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (January 1, 2022–June 30, 2022).
Actual expenses
The first section in each table uses the Account’s actual expenses and its actual rate of return. You may use the information in this section, together with the amount you invested, to estimate the expenses that you paid over the six-month period.
Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses paid during period” to estimate the expenses you paid during the six-month period.
Hypothetical example for comparison purposes
The second section in the table shows hypothetical account values and expenses based on the Account’s actual expense ratio for each Class for the six-month period and an assumed 5%-per-year rate of return before expenses. This was not the Account’s actual return.
This hypothetical example cannot be used to estimate the actual expenses you paid for the period, but rather allows you to compare the ongoing costs of investing in the Account with the costs of other accounts. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other variable annuity accounts and mutual funds.
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Performance for the six months ended June 30, 2022
The CREF Stock Account returned –20.88% for the period, compared with the –20.38% return of its composite benchmark, a weighted average of the Russell 3000® Index and the MSCI All Country World (ACWI) ex USA Investable Market Index (IMI). For the one-year period ended June 30, 2022, the Account returned –17.16% versus –15.85% for the composite index. (All returns for the Account are for Class R1.)
The U.S. economy contracted during the period, although spending by consumers and businesses remained positive. The unemployment rate declined from 4.0% in January 2022 to 3.6% in June. Core inflation, which includes all items except food and energy, rose 5.9% over the twelve months ended June 30, 2022. The Federal Reserve raised the federal funds target rate to 1.50%–1.75%. The broad U.S. stock market, as measured by the Russell 3000 Index, returned –21.10% for the period.
Economies in the 19-nation euro area expanded during the first three months of 2022, as did China’s economy, which grew despite restrictions aimed at limiting the spread of COVID-19. Global central banks responded to rising inflation by continuing to tighten monetary policies. The MSCI ACWI ex USA IMI returned –19.08% for the period.
Account trailed its composite benchmark
The Account’s management team typically uses a combination of three different investment strategies—active management, quantitative management and indexing—which, in turn, invest in both domestic and foreign stocks.
For the six-month period, the Account trailed its composite benchmark. In the United States, the Account’s quantitative small-cap and dividend growth strategies outperformed but were offset by underperformance from the other active large-cap growth and core strategies. Among foreign investments, the Account’s international and global research strategies made a solid contribution, while active international and emerging markets strategies detracted.
The Account’s returns may sometimes diverge from the returns of its benchmark more than would be expected. This divergence may be the result of the Account’s fair value pricing adjustments or of the timing of foreign currency valuations. Many foreign exchanges close for trading before the Account’s accumulation unit value (AUV) is calculated (see the current CREF prospectus for more details on AUV calculations). In the intervening hours, the values of foreign securities can change, and these changes are not reflected immediately in the returns of the Account’s benchmark. These changes are, however, taken into account to value the Account’s portfolio holdings at the time the Account’s AUV is calculated; these are known as fair value pricing adjustments.
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CREF Stock Account
Performance as of June 30, 2022
| Stock Account | Total return | Average annual total return | Estimated annual | |||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | Operating expenses | * | ||||||||||||||||
| Class R1 | 7/31/1952 | –20.88 | % | –17.16 | % | 7.06 | % | 9.49 | % | 0.455 | % | |||||||||||
| Class R2 | 4/24/2015 | –20.82 | –17.04 | 7.25 | 9.66 | † | 0.290 | |||||||||||||||
| Class R3 | 4/24/2015 | –20.80 | –16.99 | 7.31 | 9.71 | † | 0.230 | |||||||||||||||
| Broad market index | ||||||||||||||||||||||
| Morningstar Aggressive Target Risk Index | — | –19.03 | –15.60 | 6.64 | 8.90 | — | ||||||||||||||||
| CREF Stock Account Composite Index§ | — | –20.38 | –15.85 | 8.11 | 10.29 | — | ||||||||||||||||
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit TIAA.org.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
| * | The estimated annual operating expenses are taken from the Account’s current prospectus. Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Refer to the Financial highlights later in this report for the Account’s expense ratios as of the end of the reporting period. |
| † | The performance shown for Classes R2 and R3 that is prior to their inception date is based on performance of the Account’s Class R1. The performance for these periods has not been restated to reflect the lower expenses of Classes R2 and R3. If those expenses had been reflected, the performance would have been higher. |
| § | As of the close of business on June 30, 2022, the CREF Stock Account Composite Benchmark consisted of: 65.0% Russell 3000® Index and 35.0% MSCI ACWI ex USA IMI. The Account’s benchmark, the components that make up the composite benchmark and the method of calculating the composite benchmark’s performance may vary over time. |
Expense example
Six months ended June 30, 2022
| Stock Account | Beginning account value (1/1/22 | ) | Ending account value (6/30/22 | ) | Expenses paid during period (1/1/22–6/30/22 | * ) | ||||||
| Actual return | ||||||||||||
| Class R1 | $ | 1,000.00 | $ | 791.20 | $2.04 | |||||||
| Class R2 | 1,000.00 | 791.81 | 1.33 | |||||||||
| Class R3 | 1,000.00 | 792.03 | 1.11 | |||||||||
| 5% annual hypothetical return | ||||||||||||
| Class R1 | 1,000.00 | 1,022.51 | 2.31 | |||||||||
| Class R2 | 1,000.00 | 1,023.31 | 1.51 | |||||||||
| Class R3 | 1,000.00 | 1,023.55 | 1.25 | |||||||||
| * | “Expenses paid during period” is based on the Account’s actual expense ratio for the most recent fiscal half- |
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CREF Stock Account
year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2022. The Account’s annualized six-month expense ratios for that period were 0.46% for Class R1, 0.30% for Class R2 and 0.25% for Class R3.
For more information about this expense example, please see page 10.
Account profile
| as of 6/30/2022 | |
| Net assets | $106.04 billion |
| Portfolio turnover rate* | 21% |
| Number of holdings | 9,953 |
| Weighted median market capitalization | $71.65 billion |
| Price/earnings ratio (weighted 12-month trailing average)† | 17.2 |
| * | The portfolio turnover rate covers the six-month period from January 1, 2022–June 30, 2022, and is not annualized. |
| † | Price/earnings ratio is the price of a stock divided by its earnings per share for the past twelve-month period. |
Portfolio composition
| Sector | % of net assets as of 6/30/2022 |
| Information technology | 20.6 |
| Financials | 14.3 |
| Health care | 12.9 |
| Consumer discretionary | 11.2 |
| Industrials | 10.1 |
| Communication services | 7.0 |
| Consumer staples | 6.9 |
| Energy | 5.1 |
| Materials | 4.7 |
| Real estate | 3.1 |
| Utilities | 2.8 |
| Short-term investments, other assets & liabilities, net | 1.3 |
| Total | 100.0 |
Holdings by company size
| Market capitalization | % of equity investments as of 6/30/2022 |
| More than $50 billion | 57.3 |
| More than $15 billion–$50 billion | 21.2 |
| More than $2 billion–$15 billion | 16.9 |
| $2 billion or less | 4.6 |
| Total | 100.0 |
Holdings by country
| % of portfolio investments as of 6/30/2022 | |
| United States | 63.9 |
| Japan | 4.7 |
| United Kingdom | 3.5 |
| China | 3.2 |
| Canada | 2.6 |
| France | 2.2 |
| Germany | 1.9 |
| Australia | 1.7 |
| 71 other nations | 14.0 |
| Short-term investments | 2.3 |
| Total | 100.0 |
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Performance for the six months ended June 30, 2022
The CREF Global Equities Account returned –20.93% for the period, compared with the –20.18% return of its benchmark, the MSCI All Country World Index (ACWI). For the one-year period ended June 30, 2022, the Account returned –17.65% versus –15.75% for the index. (All returns for the Account are for Class R1.)
International stocks in both developed and emerging markets lost ground, although certain countries grew moderately during the period. Economies in the 19-nation euro area expanded during the first three months of 2022, as did China’s economy, which grew despite restrictions aimed at limiting the spread of COVID-19. Global central banks responded to rising inflation by continuing to tighten monetary policies. The U.S. Federal Reserve raised the federal funds target rate to 1.50%–1.75% in June. The European Central Bank stated that it intends to increase its benchmark interest rates in July by 0.25% and possibly raise them further in September. The Bank of England increased its benchmark rate four times to 1.25% by period-end.
Within the MSCI ACWI, 41 of the 47 countries represented in the index posted losses in U.S.-dollar terms for the six-month period. In local-currency terms, most countries posted losses that were smaller—in some cases, to a significant degree—than their U.S.-dollar returns.
Account trailed its benchmark
The Account underperformed its benchmark for the six-month period. The largest detractor was an overweight position in Japanese human resources company Recruit Holdings, which was hurt by a decrease in the growth of job openings. Overweights in Sony Group and British rental equipment company Ashtead Group also detracted.
By contrast, other positions were beneficial, including overweights in energy companies Equinor and ExxonMobil, which benefited from high oil prices, and an underweight in Meta Platforms, the parent company of Facebook, which declined.
The Account’s returns may sometimes diverge from the returns of its benchmark more than would be expected. This divergence may be the result of the Account’s fair value pricing adjustments or of the timing of foreign currency valuations. Many foreign exchanges close for trading before the Account’s accumulation unit value (AUV) is calculated (see the current CREF prospectus for more details on AUV calculations). In the intervening hours, the values of foreign securities can change, and these changes are not reflected immediately in the returns of the Account’s benchmark. These changes are, however, taken into account to value the Account’s portfolio holdings at the time the Account’s AUV is calculated; these are known as fair value pricing adjustments.
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CREF Global Equities Account
Performance as of June 30, 2022
| Global Equities Account | Total return | Average annual total return | Estimated annual | |||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | Operating expenses | * | ||||||||||||||||
| Class R1 | 5/1/1992 | –20.93 | % | –17.65 | % | 6.97 | % | 8.93 | % | 0.445 | % | |||||||||||
| Class R2 | 4/24/2015 | –20.87 | –17.53 | 7.17 | 9.09 | † | 0.280 | |||||||||||||||
| Class R3 | 4/24/2015 | –20.84 | –17.49 | 7.22 | 9.15 | † | 0.220 | |||||||||||||||
| MSCI All Country World Index | — | –20.18 | –15.75 | 7.00 | 8.76 | — | ||||||||||||||||
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit TIAA.org.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
| * | The estimated annual operating expenses are taken from the Account’s current prospectus. Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Refer to the Financial highlights later in this report for the Account’s expense ratios as of the end of the reporting period. |
| † | The performance shown for Classes R2 and R3 that is prior to their inception date is based on performance of the Account’s Class R1. The performance for these periods has not been restated to reflect the lower expenses of Classes R2 and R3. If those expenses had been reflected, the performance would have been higher. |
Expense example
Six months ended June 30, 2022
| Global Equities Account | Beginning account value (1/1/22 | ) | Ending account value (6/30/22 | ) | Expenses paid during period (1/1/22–6/30/22 | * ) | ||||||
| Actual return | ||||||||||||
| Class R1 | $ | 1,000.00 | $ | 790.72 | $1.95 | |||||||
| Class R2 | 1,000.00 | 791.34 | 1.24 | |||||||||
| Class R3 | 1,000.00 | 791.55 | 1.02 | |||||||||
| 5% annual hypothetical return | ||||||||||||
| Class R1 | 1,000.00 | 1,022.61 | 2.21 | |||||||||
| Class R2 | 1,000.00 | 1,023.41 | 1.40 | |||||||||
| Class R3 | 1,000.00 | 1,023.65 | 1.15 | |||||||||
| * | “Expenses paid during period” is based on the Account’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2022. The Account’s annualized six-month expense ratios for that period were 0.44% for Class R1, 0.28% for Class R2 and 0.23% for Class R3. |
For more information about this expense example, please see page 10.
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CREF Global Equities Account
Account profile
| as of 6/30/2022 | |
| Net assets | $21.70 billion |
| Portfolio turnover rate* | 24% |
| Number of holdings | 2,483 |
| Weighted median market capitalization | $100.22 billion |
| Price/earnings ratio (weighted 12-month trailing average)† | 17.4 |
| * | The portfolio turnover rate covers the six-month period from January 1, 2022–June 30, 2022, and is not annualized. |
| † | Price/earnings ratio is the price of a stock divided by its earnings per share for the past twelve-month period. |
Portfolio composition
| Sector | % of net assets as of 6/30/2022 |
| Information technology | 21.1 |
| Health care | 13.9 |
| Financials | 12.0 |
| Consumer discretionary | 11.1 |
| Industrials | 9.6 |
| Consumer staples | 8.4 |
| Communication services | 6.7 |
| Energy | 6.0 |
| Materials | 5.7 |
| Utilities | 2.5 |
| Real estate | 1.9 |
| Short-term investments, other assets & liabilities, net | 1.1 |
| Total | 100.0 |
Holdings by company size
| Market capitalization | % of equity investments as of 6/30/2022 |
| More than $50 billion | 66.0 |
| More than $15 billion–$50 billion | 24.5 |
| More than $2 billion–$15 billion | 8.9 |
| $2 billion or less | 0.6 |
| Total | 100.0 |
Holdings by country
| % of portfolio investments as of 6/30/2022 | |
| United States | 62.4 |
| Japan | 5.0 |
| United Kingdom | 4.4 |
| China | 3.1 |
| France | 2.7 |
| Canada | 2.4 |
| Germany | 2.2 |
| Netherlands | 2.2 |
| 45 other nations | 14.0 |
| Short-term investments | 1.6 |
| Total | 100.0 |
| 16 | 2022 Semiannual Report ■ College Retirement Equities Fund |
Performance for the six months ended June 30, 2022
The CREF Growth Account returned –31.15% for the period, compared with the –28.07% return of its benchmark, the Russell 1000® Growth Index. For the one-year period ended June 30, 2022, the Account returned –26.75% versus –18.77% for the index. (All returns for the Account are for Class R1.)
The U.S. economy contracted during the period, although spending by consumers and businesses remained positive. The unemployment rate declined from 4.0% in January 2022 to 3.6% in June. Core inflation, which includes all items except food and energy, rose 5.9% over the twelve months ended June 30, 2022. The Federal Reserve, responding to elevated inflation, increased the federal funds target rate—a key measure of short-term interest rates—three times during the period. The third increase in June brought the rate to 1.50%–1.75%. Oil prices rose sharply.
The broad U.S. stock market, as measured by the Russell 3000® Index, returned –21.10% for the period. Small-cap equities trailed large- and mid-sized stocks, while growth shares underperformed value stocks. (Returns by investment style and capitalization size are based on the Russell indexes.)
Fund trailed its benchmark
Ten of the eleven industry sectors in the Russell 1000 Growth Index posted losses for the six months. Communication services (down 38.6%) and consumer discretionary (down 35.0%) were the worst performers. Information technology (down 28.7%)—the benchmark’s largest sector—was responsible for over 45.0% of the index’s decline. Together, these three sectors accounted for nearly three-quarters of the benchmark’s total market capitalization on June 30, 2022. Energy (up 30.9%) soared but made only a slight contribution to the overall return due to its low representation in the index. The next-best performers were consumer staples (down 6.6%) and utilities (down 9.3%).
The Account trailed its benchmark, mainly due to several unsuccessful stock allocations. The largest detractors were an underweight position in Apple, an overweight in orthodontics supplier Align Technology and a lack of exposure to Coca-Cola. Apple declined but was more resilient than the index, supported by better-than-expected iPhone sales. Align Technology was hurt by slowing demand in China, while shares of Coca-Cola advanced on strong revenue growth.
Conversely, the largest contributor was a lack of exposure to Netflix, which reported that it lost subscribers during the first quarter of 2022 and projected additional losses for the second quarter. Next came an out-of-benchmark position in pharmaceutical company AstraZeneca and an overweight position in Monster Beverage.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 17 |
CREF Growth Account
Performance as of June 30, 2022
| Growth Account | Total return | Average annual total return | Estimated annual | |||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | Operating expenses | * | ||||||||||||||||
| Class R1 | 4/29/1994 | –31.15 | % | –26.75 | % | 11.20 | % | 13.09 | % | 0.430 | % | |||||||||||
| Class R2 | 4/24/2015 | –31.10 | –26.64 | 11.40 | 13.26 | † | 0.265 | |||||||||||||||
| Class R3 | 4/24/2015 | –31.08 | –26.60 | 11.46 | 13.32 | † | 0.205 | |||||||||||||||
| Russell 1000® Growth Index | — | –28.07 | –18.77 | 14.29 | 14.80 | — | ||||||||||||||||
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit TIAA.org.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
| * | The estimated annual operating expenses are taken from the Account’s current prospectus. Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Refer to the Financial highlights later in this report for the Account’s expense ratios as of the end of the reporting period. |
| † | The performance shown for Classes R2 and R3 that is prior to their inception date is based on performance of the Account’s Class R1. The performance for these periods has not been restated to reflect the lower expenses of Classes R2 and R3. If those expenses had been reflected, the performance would have been higher. |
Expense example
Six months ended June 30, 2022
| Growth Account | Beginning account value (1/1/22 | ) | Ending account value (6/30/22 | ) | Expenses paid during period (1/1/22–6/30/22 | * ) | ||||||
| Actual return | ||||||||||||
| Class R1 | $ | 1,000.00 | $ | 688.47 | $1.76 | |||||||
| Class R2 | 1,000.00 | 689.01 | 1.09 | |||||||||
| Class R3 | 1,000.00 | 689.20 | 0.88 | |||||||||
| 5% annual hypothetical return | ||||||||||||
| Class R1 | 1,000.00 | 1,022.71 | 2.11 | |||||||||
| Class R2 | 1,000.00 | 1,023.51 | 1.30 | |||||||||
| Class R3 | 1,000.00 | 1,023.75 | 1.05 | |||||||||
| * | “Expenses paid during period” is based on the Account’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2022. The Account’s annualized six-month expense ratios for that period were 0.42% for Class R1, 0.26% for Class R2 and 0.21% for Class R3. |
For more information about this expense example, please see page 10.
| 18 | 2022 Semiannual Report ■ College Retirement Equities Fund |
CREF Growth Account
Account profile
| as of 6/30/2022 | |
| Net assets | $26.32 billion |
| Portfolio turnover rate* | 24% |
| Number of holdings | 107 |
| Weighted median market capitalization | $211.76 billion |
| Price/earnings ratio (weighted 12-month trailing average)† | 27.5 |
| * | The portfolio turnover rate covers the six-month period from January 1, 2022–June 30, 2022, and is not annualized. |
| † | Price/earnings ratio is the price of a stock divided by its earnings per share for the past twelve-month period. |
Portfolio composition
| Sector | % of net assets as of 6/30/2022 |
| Information technology | 41.7 |
| Consumer discretionary | 15.7 |
| Health care | 13.3 |
| Communication services | 10.2 |
| Industrials | 6.7 |
| Consumer staples | 5.7 |
| Financials | 2.5 |
| Energy | 2.3 |
| Materials | 1.5 |
| Short-term investments, other assets & liabilities, net | 0.4 |
| Total | 100.0 |
Holdings by company size
| Market capitalization | % of equity investments as of 6/30/2022 |
| More than $50 billion | 79.0 |
| More than $15 billion–$50 billion | 18.7 |
| More than $2 billion–$15 billion | 2.1 |
| $2 billion or less | 0.2 |
| Total | 100.0 |
| College Retirement Equities Fund ■ 2022 Semiannual Report | 19 |
Performance for the six months ended June 30, 2022
The CREF Equity Index Account returned –21.19% for the period, compared with the –21.10% return of its benchmark, the Russell 3000® Index. For the one-year period ended June 30, 2022, the Account returned –14.09% versus –13.87% for the index. (All returns for the Account are for Class R1.)
For the six-month period, the Account’s return underperformed that of its benchmark index due to the effect of expenses. The Account’s return includes a deduction for expenses, while the benchmark’s does not. The Account had a risk profile similar to that of its benchmark.
The U.S. economy contracted during the period, although spending by consumers and businesses remained positive. The unemployment rate declined from 4.0% in January 2022 to 3.6% in June. Core inflation, which includes all items except food and energy, rose 5.9% over the twelve months ended June 30, 2022. The Federal Reserve, responding to elevated inflation, increased the federal funds target rate—a key measure of short-term interest rates—three times during the period. The third increase in June brought the rate to 1.50%–1.75%. Oil prices rose sharply.
The broad U.S. stock market, as measured by the Russell 3000 Index, returned –21.10% for the period. Small-cap equities trailed large- and mid-sized stocks, while growth shares underperformed value stocks. (Returns by investment style and capitalization size are based on the Russell indexes.)
Nearly all benchmark sectors declined
Ten of the eleven industry sectors in the Russell 3000 Index posted losses for the six months. Consumer discretionary (down 33.3%) was the worst performer amid a shift in household spending away from goods and toward in-person services. Next in line were communication services (down 30.6%) and information technology (down 28.5%)—the index’s largest sector and also the biggest detractor from its return. Together, these three sectors represented more than 45.0% of the index’s total market capitalization on June 30, 2022. Energy (up 30.7%) was the only sector to advance, benefiting from high oil prices. The next-best performers were the defensive utilities (down 1.1%) and consumer staples (down 6.1%) sectors.
For the six-month period, none of the five largest stocks in the Russell 3000 Index produced a return that exceeded the overall return of the index. The stocks with the steepest declines were Amazon.com, which reported tepid revenue growth as online shopping slowed, and Tesla, which was hurt by its CEO’s plans to buy Twitter. Next came Alphabet (the parent company of Google), followed by Microsoft and Apple.
| 20 | 2022 Semiannual Report ■ College Retirement Equities Fund |
CREF Equity Index Account
Performance as of June 30, 2022
| Equity Index Account | Total return | Average annual total return | Estimated annual | |||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | operating expenses | * | ||||||||||||||||
| Class R1 | 4/29/1994 | –21.19 | % | –14.09 | % | 10.16 | % | 12.09 | % | 0.385 | % | |||||||||||
| Class R2 | 4/24/2015 | –21.12 | –13.96 | 10.36 | 12.26 | † | 0.220 | |||||||||||||||
| Class R3 | 4/24/2015 | –21.10 | –13.92 | 10.42 | 12.31 | † | 0.160 | |||||||||||||||
| Russell 3000® Index | — | –21.10 | –13.87 | 10.60 | 12.57 | — | ||||||||||||||||
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit TIAA.org.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
| * | The estimated annual operating expenses are taken from the Account’s current prospectus. Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Refer to the Financial highlights later in this report for the Account’s expense ratios as of the end of the reporting period. |
| † | The performance shown for Classes R2 and R3 that is prior to their inception date is based on performance of the Account’s Class R1. The performance for these periods has not been restated to reflect the lower expenses of Classes R2 and R3. If those expenses had been reflected, the performance would have been higher. |
Expense example
Six months ended June 30, 2022
| Equity Index Account | Beginning account value (1/1/22 | ) | Ending account value (6/30/22 | ) | Expenses paid during period (1/1/22–6/30/22 | * ) | ||||||
| Actual return | ||||||||||||
| Class R1 | $1,000.00 | $ 788.14 | $1.68 | |||||||||
| Class R2 | 1,000.00 | 788.76 | 0.98 | |||||||||
| Class R3 | 1,000.00 | 788.97 | 0.75 | |||||||||
| 5% annual hypothetical return | ||||||||||||
| Class R1 | 1,000.00 | 1,022.91 | 1.91 | |||||||||
| Class R2 | 1,000.00 | 1,023.70 | 1.10 | |||||||||
| Class R3 | 1,000.00 | 1,023.95 | 0.85 | |||||||||
| * | “Expenses paid during period” is based on the Account’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2022. The Account’s annualized six-month expense ratios for that period were 0.38% for Class R1, 0.22% for Class R2 and 0.17% for Class R3. |
For more information about this expense example, please see page 10.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 21 |
CREF Equity Index Account
Account profile
| as of 6/30/2022 | |||
| Net assets | $19.51 billion | ||
| Portfolio turnover rate* | 2% | ||
| Number of holdings | 2,859 | ||
| Weighted median market capitalization | $116.49 billion | ||
| Price/earnings ratio (weighted 12-month trailing average)† | 19.8 | ||
| * | The portfolio turnover rate covers the six-month period from January 1, 2022–June 30, 2022, and is not annualized. |
| † | Price/earnings ratio is the price of a stock divided by its earnings per share for the past twelve-month period. |
Portfolio composition
| Sector | % of net assets as of 6/30/2022 | ||
| Information technology | 25.5 | ||
| Health care | 14.8 | ||
| Financials | 11.5 | ||
| Consumer discretionary | 10.5 | ||
| Industrials | 8.8 | ||
| Communication services | 8.0 | ||
| Consumer staples | 6.4 | ||
| Energy | 4.4 | ||
| Real estate | 3.6 | ||
| Utilities | 3.0 | ||
| Materials | 2.9 | ||
| Short-term investments, other assets & liabilities, net | 0.6 | ||
| Total | 100.0 | ||
Holdings by company size
| Market capitalization | % of equity investments as of 6/30/2022 | ||
| More than $50 billion | 64.9 | ||
| More than $15 billion–$50 billion | 18.8 | ||
| More than $2 billion–$15 billion | 13.7 | ||
| $2 billion or less | 2.6 | ||
| Total | 100.0 | ||
| 22 | 2022 Semiannual Report ■ College Retirement Equities Fund |
Performance for the six months ended June 30, 2022
The CREF Core Bond Account (formerly Bond Market Account) returned –11.12% for the period, compared with the –10.35% return of its benchmark, the Bloomberg U.S. Aggregate Bond Index. For the one-year period ended June 30, 2022, the Account returned –11.32% versus –10.29% for the index. (All returns for the Account are for Class R1.)
The U.S. economy contracted during the period, although spending by consumers and businesses remained positive. The unemployment rate declined from 4.0% in January 2022 to 3.6% in June. Core inflation, which includes all items except food and energy, rose 5.9% over the twelve months ended June 30, 2022. Oil prices rose sharply.
The Federal Reserve, responding to elevated inflation, increased the federal funds target rate—a key measure of short-term interest rates—three times during the period. The third increase in June brought the rate to 1.50%–1.75%. U.S. Treasury yields rose significantly across all maturities. The European Central Bank stated that it intends to increase its benchmark interest rates in July by 0.25% and possibly raise them further in September. The Bank of England increased its benchmark rate four times to 1.25% by the end of the period.
Account trailed its benchmark
All sectors in the Bloomberg U.S. Aggregate Bond Index declined for the six months as yields rose dramatically across all maturities. The U.S. Treasuries sector, the index’s largest with a weight of 39.7%, returned –9.1%. Mortgage-backed securities (MBS), the second-largest sector accounting for 27.2% of the index’s total market capitalization on June 30, 2022, returned –8.8%. Corporate bonds—the benchmark’s third-largest sector at 24.8%—had a more significant decline of –14.4%. Commercial mortgage-backed securities (CMBS) and asset-backed securities (ABS) returned –8.3% and –3.8%, respectively.
The Account trailed its benchmark for the period. An overweight in non-Treasury sectors and corresponding underweight in Treasuries was the Account’s main detractor as uncertainties pushed credit spreads wider. An overweight in corporate credit hurt results the most, including small emerging-markets and high-yield corporate positions. ABS, CMBS and non-agency MBS also detracted. Security selection was negative in the banking and health care areas of investment-grade credit, as well as among more volatile CMBS and ABS.
Interest-rate positioning aided results, including the Account’s shorter duration versus the benchmark, which made it less sensitive to higher rates across the curve. This was partially offset by the Account’s yield curve positioning—how the Account was invested across different maturities—which detracted due to overweights in the longer maturity segments of the yield curve.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 23 |
CREF Core Bond Account
Performance as of June 30, 2022
| Core Bond Account | Total return | Average annual total return | Estimated annual | |||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | operating expenses | * | ||||||||||||||||
| Class R1 | 3/1/1990 | –11.12 | % | –11.32 | % | 0.69 | % | 1.49 | % | 0.440 | % | |||||||||||
| Class R2 | 4/24/2015 | –11.05 | –11.18 | 0.88 | 1.65 | † | 0.275 | |||||||||||||||
| Class R3 | 4/24/2015 | –11.03 | –11.14 | 0.93 | 1.69 | † | 0.215 | |||||||||||||||
| Bloomberg U.S. Aggregate Bond Index | — | –10.35 | –10.29 | 0.88 | 1.54 | — | ||||||||||||||||
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
| * | The estimated annual operating expenses are taken from the Account’s current prospectus. Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Refer to the Financial highlights later in this report for the Account’s expense ratios as of the end of the reporting period. |
| † | The performance shown for Classes R2 and R3 that is prior to their inception date is based on performance of the Account’s Class R1. The performance for these periods has not been restated to reflect the lower expenses of Classes R2 and R3. If those expenses had been reflected, the performance would have been higher. |
Expense example
Six months ended June 30, 2022
| Core Bond Account | Beginning account value (1/1/22 | ) | Ending account value (6/30/22 | ) | Expenses
paid during period (1/1/22–6/30/22 | * ) | ||||||
| Actual return | ||||||||||||
| Class R1 | $1,000.00 | $ 888.81 | $2.06 | |||||||||
| Class R2 | 1,000.00 | 889.51 | 1.31 | |||||||||
| Class R3 | 1,000.00 | 889.75 | 1.08 | |||||||||
| 5% annual hypothetical return | ||||||||||||
| Class R1 | 1,000.00 | 1,022.61 | 2.21 | |||||||||
| Class R2 | 1,000.00 | 1,023.41 | 1.40 | |||||||||
| Class R3 | 1,000.00 | 1,023.65 | 1.15 | |||||||||
| * | “Expenses paid during period” is based on the Account’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2022. The Account’s annualized six-month expense ratios for that period were 0.44% for Class R1, 0.28% for Class R2 and 0.23% for Class R3. |
For more information about this expense example, please see page 10.
| 24 | 2022 Semiannual Report ■ College Retirement Equities Fund |
CREF Core Bond Account
Account profile
| as of 6/30/2022 | |||
| Net assets | $11.50 billion | ||
| Portfolio turnover rate* | 106% | ||
| Portfolio turnover rate, excluding mortgage dollar-roll transactions* | 48% | ||
| Number of issues | 1,983 | ||
| Option-adjusted duration‡ | 6.27 years | ||
| Average maturity§ | 9.03 years | ||
| * | The portfolio turnover rate covers the six-month period from January 1, 2022–June 30, 2022, and is not annualized. |
| ‡ | Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates. |
| § | Average maturity is a simple average of the maturities of all the bonds in an account’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable. |
Portfolio composition
| Sector | % of net assets as of 6/30/2022 | ||
| Corporate bonds | 27.9 | ||
| Mortgage-backed securities | 23.8 | ||
| U.S. Treasury securities | 15.1 | ||
| Foreign government & corporate bonds denominated in U.S. dollars | 13.6 | ||
| Commercial mortgage-backed securities | 7.5 | ||
| Asset-backed securities | 6.2 | ||
| Municipal bonds | 3.0 | ||
| Bank loan obligations | 0.7 | ||
| U.S. agency securities | 0.4 | ||
| Preferred stock | 0.1 | ||
| Short-term investments, other assets & liabilities, net | 1.7 | ||
| Total | 100.0 | ||
Holdings by maturity
| % of fixed-income investments (excluding short-term investments) as of 6/30/2022 | |||
| Less than 1 year | 3.9 | ||
| 1–3 years | 13.6 | ||
| 3–5 years | 16.2 | ||
| 5–10 years | 47.1 | ||
| Over 10 years | 19.2 | ||
| Total | 100.0 |
Holdings by credit quality
| % of fixed-income investments (excluding short-term investments) as of 6/30/2022 | |||
| U.S. Treasury & U.S. agency securities* | 32.9 | ||
| Aaa/AAA | 9.6 | ||
| Aa/AA | 10.2 | ||
| A/A | 15.5 | ||
| Baa/BBB | 26.7 | ||
| Ba/BB | 2.5 | ||
| B/B | 1.1 | ||
| Below B/B | 0.1 | ||
| Non-rated | 1.4 | ||
| Total | 100.0 |
| * | These securities are guaranteed by the full faith and credit of the U.S. government. |
Credit quality ratings are based on the Bloomberg methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 25 |
CREF Inflation-Linked Bond Account
Performance for the six months ended June 30, 2022
The CREF Inflation-Linked Bond Account returned –4.57% for the period, compared with the –5.11% return of its benchmark, the Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index. For the one-year period ended June 30, 2022, the Account returned –1.75% versus –2.03% for the index. (All returns for the Account are for Class R1.)
The U.S. economy contracted during the period, although spending by consumers and businesses remained positive. The unemployment rate declined from 4.0% in January 2022 to 3.6% in June. Core inflation, which includes all items except food and energy, rose 5.9% over the twelve months ended June 30, 2022. Oil prices rose sharply.
The Federal Reserve, responding to elevated inflation, increased the federal funds target rate—a key measure of short-term interest rates—three times during the period. The third increase in June brought the rate to 1.50%–1.75%. U.S. Treasury yields rose significantly across all maturities. The European Central Bank stated that it intends to increase its benchmark interest rates in July by 0.25% and possibly raise them further in September. The Bank of England increased its benchmark rate four times to 1.25% by the end of the period.
Account outperformed its benchmark
For the six months, the TIPS 1–10 Year Index outperformed the –10.35% return of the broad domestic investment-grade fixed-rate bond market, as measured by the Bloomberg U.S. Aggregate Bond Index.
Yields on bonds of all maturities rose during the period, although short- and intermediate-term yields had the largest increases on a percentage basis. The higher yields reflected investor concerns about the sharp increase in inflation seen over the first half of 2022. As a result, bond performance was generally negative. However, these developments were more favorable for Treasury inflation-protected securities (TIPS), which outperformed most other bond sectors for the period.
The Account outperformed its benchmark for the six-month period, despite its expense charge. The Account’s return includes a deduction for expenses, while the benchmark’s return does not. The Account outperformed the TIPS index mainly because it had a shorter duration than the index. Duration is a measure of sensitivity to changes in interest rates, and because rates rose sharply during the period, securities with longer durations lost more value than those with shorter durations.
| 26 | 2022 Semiannual Report ■ College Retirement Equities Fund |
CREF Inflation-Linked Bond Account
Performance as of June 30, 2022
| Inflation-Linked Bond Account | Total return | Average annual total return | Estimated annual | |||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | operating expenses | * | ||||||||||||||||
| Class R1 | 5/1/1997 | –4.57 | % | –1.75 | % | 2.87 | % | 1.29 | % | 0.395 | % | |||||||||||
| Class R2 | 4/24/2015 | –4.50 | –1.60 | 3.06 | 1.45 | † | 0.230 | |||||||||||||||
| Class R3 | 4/24/2015 | –4.47 | –1.55 | 3.11 | 1.49 | † | 0.170 | |||||||||||||||
| Bloomberg U.S. Treasury Inflation Protected Securities (TIPS) 1–10 Year Index | — | –5.11 | –2.03 | 3.24 | 1.75 | — | ||||||||||||||||
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance and 30-day SEC yield information, including performance to the most recent month-end, please visit TIAA.org.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
| * | The estimated annual operating expenses are taken from the Account’s current prospectus. Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Refer to the Financial highlights later in this report for the Account’s expense ratios as of the end of the reporting period. |
| † | The performance shown for Classes R2 and R3 that is prior to their inception date is based on performance of the Account’s Class R1. The performance for these periods has not been restated to reflect the lower expenses of Classes R2 and R3. If those expenses had been reflected, the performance would have been higher. |
Expense example
Six months ended June 30, 2022
| Inflation-Linked Bond Account | Beginning account value (1/1/22 | ) | Ending account value (6/30/22 | ) | Expenses paid during period (1/1/22–6/30/22 | * ) | ||||||
| Actual return | ||||||||||||
| Class R1 | $1,000.00 | $ 954.27 | $1.89 | |||||||||
| Class R2 | 1,000.00 | 955.02 | 1.11 | |||||||||
| Class R3 | 1,000.00 | 955.28 | 0.87 | |||||||||
| 5% annual hypothetical return | ||||||||||||
| Class R1 | 1,000.00 | 1,022.86 | 1.96 | |||||||||
| Class R2 | 1,000.00 | 1,023.65 | 1.15 | |||||||||
| Class R3 | 1,000.00 | 1,023.90 | 0.90 | |||||||||
| * | “Expenses paid during period” is based on the Account’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2022. The Account’s annualized six-month expense ratios for that period were 0.39% for Class R1, 0.23% for Class R2 and 0.18% for Class R3. |
For more information about this expense example, please see page 10.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 27 |
CREF Inflation-Linked Bond Account
Account profile
| as of 6/30/2022 | |||
| Net assets | $7.49 billion | ||
| Portfolio turnover rate* | 5% | ||
| Number of issues | 152 | ||
| Option-adjusted duration‡ | 4.03 years | ||
| Average maturity§ | 4.32 years | ||
| * | The portfolio turnover rate covers the six-month period from January 1, 2022–June 30, 2022, and is not annualized. |
| ‡ | Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates. |
| § | Average maturity is a simple average of the maturities of all the bonds in an account’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable. |
Portfolio composition
| Sector | % of net assets as of 6/30/2022 | ||
| U.S. Treasury securities | 92.3 | ||
| Mortgage-backed securities | 3.2 | ||
| Commercial mortgage-backed securities | 1.5 | ||
| Corporate bonds | 0.9 | ||
| Foreign government & corporate bonds denominated in U.S. dollars | 0.7 | ||
| Bank loan obligations | 0.5 | ||
| Asset-backed securities | 0.4 | ||
| U.S. agency securities | 0.2 | ||
| Short-term investments, other assets & liabilities, net | 0.3 | ||
| Total | 100.0 | ||
Holdings by maturity
| % of fixed-income investments (excluding short-term investments) as of 6/30/2022 | |||
| Less than 1 year | 9.1 | ||
| 1–3 years | 23.1 | ||
| 3–5 years | 30.0 | ||
| 5–10 years | 36.0 | ||
| Over 10 years | 1.8 | ||
| Total | 100.0 | ||
Holdings by credit quality
| % of fixed-income investments (excluding short-term investments) as of 6/30/2022 | |||
| U.S. Treasury & U.S. agency securities* | 94.5 | ||
| Aaa/AAA | 0.1 | ||
| Aa/AA | 0.3 | ||
| A/A | 1.1 | ||
| Baa/BBB | 1.4 | ||
| Ba/BB | 1.6 | ||
| B/B | 0.3 | ||
| Non-rated | 0.7 | ||
| Total | 100.0 | ||
| * | These securities are guaranteed by the full faith and credit of the U.S. government. |
Credit quality ratings are based on the Bloomberg methodology, which uses the median rating of those compiled by the Moody’s, Standard & Poor’s and Fitch ratings agencies. If ratings are available from only two of these agencies, the lower rating is used. When only one rating is available, that one is used. These ratings are subject to change without notice.
| 28 | 2022 Semiannual Report ■ College Retirement Equities Fund |
Performance for the six months ended June 30, 2022
The CREF Social Choice Account returned –16.83% for the period, compared with the –16.39% return of its composite benchmark, a weighted average of the Russell 3000® Index, the MSCI EAFE+Canada Index and the Bloomberg U.S. Aggregate Bond Index. For the one-year period ended June 30, 2022, the Account returned –13.10% versus –12.76% for the benchmark. The Account utilizes environmental, social and governance (ESG) criteria, while the benchmark does not. (All returns for the Account are for Class R1.)
Because of its ESG criteria, the Account did not invest in a number of stocks and bonds that were included in the indexes that comprise its composite benchmark. Avoiding these investments produced mixed results, but the net effect was that the Account underperformed its benchmark.
Relative to the Russell 3000 Index, the performance of the Account’s domestic equity component was hurt most by the exclusion of ExxonMobil, Johnson & Johnson and UnitedHealth Group. Conversely, omitting Meta Platforms (Facebook), Amazon.com and Alphabet (the parent company of Google) was beneficial. Compared to the MSCI EAFE+Canada Index, the Account’s international holdings were hurt most by avoiding British oil producer Shell, Australian mining company BHP Group and Swiss drug maker Novartis. In contrast, omitting Singaporean technology conglomerate Sea, German semiconductor manufacturer Infineon Technologies and French luxury goods firm LVMH was advantageous.
Fund trailed its benchmark
To compensate for the Account’s exclusion of some stocks, its managers use quantitative (mathematical) modeling and other techniques in an attempt to match the overall investment characteristics of the portfolio with those of its composite benchmark.
Relative to the Russell 3000 Index, the Account’s domestic equity investments were hindered most by overweight positions in PayPal Holdings, Netflix and identity-verification provider Okta. Alternatively, overweight holdings in Marathon Oil, ConocoPhillips and drug manufacturer Eli Lilly made the largest contributions to relative performance.
Compared to the MSCI EAFE+Canada Index, Canadian e-commerce company Shopify, Swedish industrial firm Atlas Copco and New Zealand software supplier Xero detracted most. By contrast, overweight positions in Canadian oil producers Cenovus Energy and Suncor Energy, as well as Canadian mining company Teck Resources, contributed most to performance relative to this benchmark.
The Account’s fixed-income component trailed the Bloomberg U.S. Aggregate Bond Index due to its holdings of U.S. Treasuries, which performed poorly.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 29 |
CREF Social Choice Account
Performance as of June 30, 2022
| Social Choice Account | Total return | Average annual total return | Estimated annual | ||||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | operating expenses | * | |||||||||||||||||
| Class R1 | 3/1/1990 | –16.83 | % | –13.10 | % | 5.36 | % | 6.85 | % | 0.415 | % | ||||||||||||
| Class R2 | 4/24/2015 | –16.77 | –12.97 | 5.55 | 7.01 | † | 0.250 | ||||||||||||||||
| Class R3 | 4/24/2015 | –16.75 | –12.93 | 5.61 | 7.07 | † | 0.190 | ||||||||||||||||
| Broad market index | |||||||||||||||||||||||
| Morningstar Moderate Target Risk Index | — | –15.94 | –13.64 | 4.91 | 6.32 | — | |||||||||||||||||
| CREF Social Choice Account Composite Index§ | — | –16.39 | –12.76 | 5.56 | 7.12 | — | |||||||||||||||||
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit TIAA.org.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
| * | The estimated annual operating expenses are taken from the Account’s current prospectus. Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Refer to the Financial highlights later in this report for the Account’s expense ratios as of the end of the reporting period. |
| † | The performance shown for Classes R2 and R3 that is prior to their inception date is based on performance of the Account’s Class R1. The performance for these periods has not been restated to reflect the lower expenses of Classes R2 and R3. If those expenses had been reflected, the performance would have been higher. |
| § | As of the close of business on June 30, 2022, the CREF Social Choice Composite Benchmark consisted of: 42.0% Russell 3000® Index, 40.0% Bloomberg U.S. Aggregate Bond Index and 18.0% MSCI EAFE+ Canada Index. The Account’s benchmark, the components that make up the composite benchmark and the method of calculating the composite benchmark’s performance may vary over time. |
Expense example
Six months ended June 30, 2022
| Social Choice Account | Beginning account value (1/1/22 | ) | Ending account value (6/30/22 | ) | Expenses
paid during period (1/1/22–6/30/22 | * ) | ||||||
| Actual return | ||||||||||||
| Class R1 | $1,000.00 | $ 831.67 | $1.86 | |||||||||
| Class R2 | 1,000.00 | 832.32 | 1.18 | |||||||||
| Class R3 | 1,000.00 | 832.54 | 0.91 | |||||||||
| 5% annual hypothetical return | ||||||||||||
| Class R1 | 1,000.00 | 1,022.76 | 2.06 | |||||||||
| Class R2 | 1,000.00 | 1,023.51 | 1.30 | |||||||||
| Class R3 | 1,000.00 | 1,023.80 | 1.00 | |||||||||
| * | “Expenses paid during period” is based on the Account’s actual expense ratio for the most recent fiscal half- |
| 30 | 2022 Semiannual Report ■ College Retirement Equities Fund |
CREF Social Choice Account
year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2022. The Account’s annualized six-month expense ratios for that period were 0.41% for Class R1, 0.26% for Class R2 and 0.20% for Class R3.
For more information about this expense example, please see page 10.
| Account profile | |||
| as of 6/30/2022 | |||
| Net assets | $17.02 billion | ||
| Portfolio turnover rate* | 48% | ||
| Portfolio turnover rate, excluding mortgage dollar-roll transactions* | 26% | ||
| Equity segment | |||
| Number of holdings | 974 | ||
| Weighted median market capitalization | $65.76 billion | ||
| Price/earnings ratio (weighted 12-month trailing average)† | 15.9 | ||
| Fixed-income segment | |||
| Number of issues | 999 | ||
| Option-adjusted duration‡ | 6.32 years | ||
| Average maturity§ | 9.66 years | ||
| * | The portfolio turnover rate covers the six-month period from January 1, 2022–June 30, 2022, and is not annualized. |
| † | Price/earnings ratio is the price of a stock divided by its earnings per share for the past twelve-month period. |
| ‡ | Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates, taking into account the options embedded in the individual securities. The longer a portfolio’s duration, the more sensitive it is to changes in interest rates. |
| § | Average maturity is a simple average of the maturities of all the bonds in an account’s portfolio. The maturity of a bond is the amount of time until the bond’s principal becomes due or payable. |
| Portfolio composition | |||
| Sector | % of net assets as of 6/30/2022 | ||
| Equities | 57.0 | ||
| Fixed-income securities | 41.7 | ||
| Short-term investments, other assets & liabilities, net | 1.3 | ||
| Total | 100.0 | ||
| Holdings by company size | |||
| Market capitalization | % of equity investments as of 6/30/2022 | ||
| More than $50 billion | 56.1 | ||
| More than $15 billion–$50 billion | 29.0 | ||
| More than $2 billion–$15 billion | 13.7 | ||
| $2 billion or less | 1.2 | ||
| Total | 100.0 | ||
| Holdings by maturity | |||
| % of fixed-income investments (excluding short-term investments) as of 6/30/2022 | |||
| Less than 1 year | 3.2 | ||
| 1–3 years | 12.6 | ||
| 3–5 years | 14.6 | ||
| 5–10 years | 45.4 | ||
| Over 10 years | 24.2 | ||
| Total | 100.0 | ||
| College Retirement Equities Fund ■ 2022 Semiannual Report | 31 |
Performance for the six months ended June 30, 2022
The CREF Money Market Account returned –0.01% for the period, compared with the 0.10% return of the iMoneyNet Money Fund Averages™—All Government, a simple average of over 500 money market funds that invest in short-term U.S. government securities. The iMoneyNet average is not an index, and its return reflects the deduction of expenses charged by the funds included in the average. (All returns for the Account are for Class R1.)
The U.S. economy contracted during the period, although spending by consumers and businesses remained positive. The unemployment rate declined from 4.0% in January 2022 to 3.6% in June. Core inflation, which includes all items except food and energy, rose 5.9% over the twelve months ended June 30, 2022. Oil prices rose sharply.
The Federal Reserve, responding to elevated inflation, increased the federal funds target rate—a key measure of short-term interest rates—three times during the period. The third increase in June brought the rate to 1.50%–1.75%. U.S. Treasury yields rose significantly across all maturities. The European Central Bank stated that it intends to increase its benchmark interest rates in July by 0.25% and possibly raise them further in September. The Bank of England increased its benchmark rate four times to 1.25% by the end of the period.
Although inflation presents an economic challenge for the United States in 2022, the increase in short-term bond yields during the period was a positive sign for money market investments. Moreover, the Fed’s change in monetary policy should bode well for yields on the short-term government securities in which the Account invests. Floating-rate debt securities, which made up approximately one-third of the Account’s portfolio at period-end, stand to benefit as short-term interest rates increase. The “secured overnight financing rate” (SOFR)—which represents dealer transactions in Treasury collateralized overnight repurchase agreements—increased from 0.05% on January 1, 2022, to 1.50% on June 30, 2022.
Account slightly trailed the iMoneyNet average
For the six-month period, the Money Market Account’s return was slightly lower than that of the iMoneyNet average, primarily due to expenses. The Account continued to invest in floating-rate government agency securities, which provide a yield enhancement over short-term fixed-rate securities. As of June 28, 2022, the Account’s weighted average maturity (WAM) was 43 days, versus 28 days for the iMoneyNet average. iMoneyNet releases their data on a weekly basis, and June 28 was the last date of release for the month.
| 32 | 2022 Semiannual Report ■ College Retirement Equities Fund |
CREF Money Market Account
Net annualized yield for the 7 days ended June 28, 2022§
| Current yield | Effective yield | ||||
| Money Market Account | |||||
| Class R1 | 0.71 | % | 0.71 | % | |
| Class R2 | 0.82 | 0.83 | |||
| Class R3 | 0.86 | 0.87 | |||
| iMoneyNet Money Fund Averages™—All Government‡ | 0.96 | 0.97 | |||
The current yield more closely reflects current earnings than does the total return.
| § | Typically, iMoneyNet reports its 7-day yields as of Tuesday of each week. |
Performance as of June 30, 2022
| Money Market Account# | Total return | Average annual total return | Estimated annual | |||||||||||||||||||
| Inception date | 6 months | 1 year | 5 years | 10 years | operating expenses | * | ||||||||||||||||
| Class R1 | 4/1/1988 | –0.01 | % | –0.01 | % | 0.61 | % | 0.31 | % | 0.405 | % | |||||||||||
| Class R2 | 4/24/2015 | 0.06 | 0.06 | 0.80 | 0.42 | † | 0.240 | |||||||||||||||
| Class R3 | 4/24/2015 | 0.08 | 0.08 | 0.85 | 0.45 | † | 0.180 | |||||||||||||||
| iMoneyNet Money Fund Averages™—All Government‡ | — | 0.10 | 0.11 | 0.78 | 0.42 | — | ||||||||||||||||
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit TIAA.org.
You could lose money by investing in this Account. Because the accumulation unit value of the Account will fluctuate, the value of your investment may increase or decrease. An investment in the Account is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The Account’s sponsor has no legal obligation to provide support to the Account, and you should not expect that the sponsor will provide financial support to the Account at any time. For a detailed discussion of risk, please see the prospectus. The current yield more closely reflects current earnings than does the total return.
Note: Unlike most money market funds, the CREF Money Market Account does not distribute income on a daily basis. Therefore, the Account does not maintain a constant value of $1.00 per accumulation unit.
| # | TIAA withheld (“waived”) a portion of the Rule 12b-1 distribution and/or administrative expenses for Classes R1, R2 and R3 of the CREF Money Market Account until December 31, 2021 when a class’ yield was less than zero. Without this waiver, the total returns of the Money Market Account would have been lower. TIAA may, for a period of three years after the date an amount was waived, recover from Classes R1, R2 and R3 that benefited from the waiver, under certain conditions. The amount of recovery on any day will be approximately 25% of the class’ yield net of all other expenses. |
| * | The estimated annual operating expenses are taken from the Account’s current prospectus. Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results. Refer to the Financial highlights later in this report for the Account’s expense ratios as of the end of the reporting period. |
| † | The performance shown for Classes R2 and R3 that is prior to their inception date is based on performance of |
| College Retirement Equities Fund ■ 2022 Semiannual Report | 33 |
CREF Money Market Account
| the Account’s Class R1. The performance for these periods has not been restated to reflect the lower expenses of Classes R2 and R3. If those expenses had been reflected, the performance would have been higher. | |
| ‡ | The iMoneyNet Money Fund Averages—All Government is a simple average of over 500 money market funds that invest in U.S. Treasuries, U.S. agencies, repurchase agreements and government-backed floating-rate notes. You cannot invest directly in it. |
Expense example
Six months ended June 30, 2022
| Money Market Account | Beginning account value (1/1/22 |
) | Ending account value (6/30/22 | ) | Expenses
paid during period (1/1/22–6/30/22 | * ) | |||||||
| Actual return | |||||||||||||
| Class R1 | $1,000.00 | $ 999.86 | $2.23 | ||||||||||
| Class R2 | 1,000.00 | 1,000.56 | 1.54 | ||||||||||
| Class R3 | 1,000.00 | 1,000.80 | 1.29 | ||||||||||
| 5% annual hypothetical return | |||||||||||||
| Class R1 | 1,000.00 | 1,022.56 | 2.26 | ||||||||||
| Class R2 | 1,000.00 | 1,023.26 | 1.56 | ||||||||||
| Class R3 | 1,000.00 | 1,023.51 | 1.30 | ||||||||||
| * | “Expenses paid during period” is based on the Account’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2022. The Account’s annualized six-month expense ratios for that period were 0.45% for Class R1, 0.31% for Class R2 and 0.26% for Class R3. The expense charges of the Account reflect a voluntary waiver. Without this waiver, the expenses of the account would have been higher and its performance lower. |
For more information about this expense example, please see page 10.
| Account profile | |||
| as of 6/30/2022 | |||
| Net assets | $8.38 billion | ||
| Number of issues | 167 | ||
| Portfolio composition | |||
| Sector | % of net assets as of 6/30/2022 | ||
| U.S. government agency securities* | 49.2 | ||
| Floating-rate securities, government* | 33.8 | ||
| U.S. Treasury securities* | 12.3 | ||
| Repurchase agreements | 4.7 | ||
| Total | 100.0 | ||
| * | These securities are guaranteed by the full faith and credit of the U.S. government. |
| 34 | 2022 Semiannual Report ■ College Retirement Equities Fund |
Summary portfolio of investments (unaudited)
CREF Stock Account ■ June 30, 2022
| Principal | Issuer | Value (000) | % of net assets | ||||||||||||
| BONDS | |||||||||||||||
| CORPORATE BONDS | |||||||||||||||
| FOOD, BEVERAGE & TOBACCO | $ | 57 | 0.0 | % | |||||||||||
| TOTAL CORPORATE BONDS | (Cost $64) | 57 | 0.0 | ||||||||||||
| TOTAL BONDS | (Cost $64) | 57 | 0.0 | ||||||||||||
| Shares | Company | ||||||||||||||
| COMMON STOCKS | |||||||||||||||
| AUTOMOBILES & COMPONENTS | |||||||||||||||
| 1,263,958 | *,n | Tesla, Inc | 851,175 | 0.8 | |||||||||||
| Other | 1,355,837 | 1.3 | |||||||||||||
| 2,207,012 | 2.1 | ||||||||||||||
| BANKS | |||||||||||||||
| 18,735,755 | Bank of America Corp | 583,244 | 0.6 | ||||||||||||
| 4,823,481 | JPMorgan Chase & Co | 543,172 | 0.5 | ||||||||||||
| 12,010,834 | Wells Fargo & Co | 470,464 | 0.5 | ||||||||||||
| Other | 5,821,241 | 5.4 | |||||||||||||
| 7,418,121 | 7.0 | ||||||||||||||
| CAPITAL GOODS | |||||||||||||||
| 1,930,733 | Honeywell International, Inc | 335,581 | 0.3 | ||||||||||||
| 5,805,115 | Raytheon Technologies Corp | 557,930 | 0.6 | ||||||||||||
| Other | 6,403,302 | 6.0 | |||||||||||||
| 7,296,813 | 6.9 | ||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 1,344,010 | 1.3 | |||||||||||||
| CONSUMER DURABLES & APPAREL | 2,004,962 | 1.9 | |||||||||||||
| CONSUMER SERVICES | |||||||||||||||
| 7,989,677 | a,e | Arcos Dorados Holdings, Inc | 53,850 | 0.1 | |||||||||||
| 2,159,165 | McDonald’s Corp | 533,055 | 0.5 | ||||||||||||
| Other | 1,919,697 | 1.8 | |||||||||||||
| 2,506,602 | 2.4 | ||||||||||||||
| DIVERSIFIED FINANCIALS | |||||||||||||||
| 2,178,167 | * | Berkshire Hathaway, Inc (Class B) | 594,683 | 0.6 | |||||||||||
| Other | 4,129,929 | 3.8 | |||||||||||||
| 4,724,612 | 4.4 | ||||||||||||||
| ENERGY | |||||||||||||||
| 3,206,678 | Chevron Corp | 464,263 | 0.5 | ||||||||||||
| 4,794,606 | ConocoPhillips | 430,604 | 0.4 | ||||||||||||
| 4,728,689 | Exxon Mobil Corp | 404,965 | 0.4 | ||||||||||||
| 14,997,374 | Shell plc | 390,573 | 0.4 | ||||||||||||
| Other | 3,710,763 | 3.4 | |||||||||||||
| 5,401,168 | 5.1 | ||||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 35 |
| Summary portfolio of investments (unaudited) | continued |
| CREF Stock Account ■ June 30, 2022 |
| Shares | Company | Value (000) | % of net assets | |||||||||||
| FOOD & STAPLES RETAILING | ||||||||||||||
| 904,833 | Costco Wholesale Corp | $ | 433,668 | 0.4 | % | |||||||||
| 3,237,606 | Walmart, Inc | 393,628 | 0.4 | |||||||||||
| Other | 832,666 | 0.8 | ||||||||||||
| 1,659,962 | 1.6 | |||||||||||||
| FOOD, BEVERAGE & TOBACCO | ||||||||||||||
| 5,327,571 | Coca-Cola Co | 335,157 | 0.3 | |||||||||||
| 3,832,214 | Nestle S.A. | 447,881 | 0.4 | |||||||||||
| 2,711,698 | PepsiCo, Inc | 451,932 | 0.5 | |||||||||||
| Other | 2,844,014 | 2.6 | ||||||||||||
| 4,078,984 | 3.8 | |||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | ||||||||||||||
| 3,846,510 | Abbott Laboratories | 417,923 | 0.4 | |||||||||||
| 955,257 | Anthem, Inc | 460,988 | 0.5 | |||||||||||
| 2,066,245 | UnitedHealth Group, Inc | 1,061,285 | 1.0 | |||||||||||
| Other | 3,268,619 | 3.0 | ||||||||||||
| 5,208,815 | 4.9 | |||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | ||||||||||||||
| 3,995,059 | Procter & Gamble Co | 574,450 | 0.6 | |||||||||||
| Other | 959,372 | 0.8 | ||||||||||||
| 1,533,822 | 1.4 | |||||||||||||
| INSURANCE | 3,031,060 | 2.9 | ||||||||||||
| MATERIALS | 4,996,159 | 4.7 | ||||||||||||
| MEDIA & ENTERTAINMENT | ||||||||||||||
| 531,310 | * | Alphabet, Inc (Class A) | 1,157,863 | 1.1 | ||||||||||
| 551,671 | * | Alphabet, Inc (Class C) | 1,206,753 | 1.2 | ||||||||||
| 9,600,097 | Comcast Corp (Class A) | 376,708 | 0.4 | |||||||||||
| 4,607,612 | *,a | iClick Interactive Asia Group Ltd (ADR) | 3,096 | 0.0 | ||||||||||
| 3,532,384 | *,n | Meta Platforms, Inc | 569,597 | 0.6 | ||||||||||
| 9,308,459 | Tencent Holdings Ltd | 421,349 | 0.4 | |||||||||||
| Other | 2,078,477 | 1.8 | ||||||||||||
| 5,813,843 | 5.5 | |||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | ||||||||||||||
| 4,508,995 | AbbVie, Inc | 690,598 | 0.7 | |||||||||||
| 3,759,637 | AstraZeneca plc | 495,978 | 0.5 | |||||||||||
| 6,110,709 | Bayer AG. | 364,909 | 0.4 | |||||||||||
| 5,146,032 | Bristol-Myers Squibb Co | 396,244 | 0.4 | |||||||||||
| 1,315,026 | Eli Lilly & Co | 426,371 | 0.4 | |||||||||||
| 4,437,656 | Johnson & Johnson | 787,728 | 0.8 | |||||||||||
| 4,596,450 | Merck & Co, Inc | 419,058 | 0.4 | |||||||||||
| 6,560,126 | Pfizer, Inc | 343,947 | 0.3 | |||||||||||
| Other | 4,596,055 | 4.1 | ||||||||||||
| 8,520,888 | 8.0 | |||||||||||||
| REAL ESTATE | 3,284,873 | 3.1 | ||||||||||||
| 36 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
| CREF Stock Account ■ June 30, 2022 |
| Shares | Company | Value (000) | % of net assets | |||||||||||
| RETAILING | ||||||||||||||
| 23,520,544 | * | Alibaba Group Holding Ltd | $ | 335,530 | 0.3 | % | ||||||||
| 17,698,819 | *,n | Amazon.com, Inc | 1,879,792 | 1.8 | ||||||||||
| 1,631,908 | Home Depot, Inc | 447,583 | 0.4 | |||||||||||
| Other | 2,504,342 | 2.4 | ||||||||||||
| 5,167,247 | 4.9 | |||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | ||||||||||||||
| 842,668 | ASML Holding NV | 398,108 | 0.4 | |||||||||||
| 1,145,305 | Broadcom, Inc | 556,401 | 0.5 | |||||||||||
| 3,919,959 | NVIDIA Corp | 594,227 | 0.6 | |||||||||||
| 45,692,458 | Taiwan Semiconductor Manufacturing Co Ltd | 732,283 | 0.7 | |||||||||||
| Other | 2,509,771 | 2.3 | ||||||||||||
| 4,790,790 | 4.5 | |||||||||||||
| SOFTWARE & SERVICES | ||||||||||||||
| 1,337,626 | Accenture plc | 371,392 | 0.4 | |||||||||||
| 2,650,870 | Mastercard, Inc (Class A) | 836,296 | 0.8 | |||||||||||
| 15,218,056 | e,n | Microsoft Corp | 3,908,453 | 3.7 | ||||||||||
| 5,493,257 | Oracle Corp | 383,814 | 0.4 | |||||||||||
| 2,584,722 | * | salesforce.com, Inc | 426,583 | 0.4 | ||||||||||
| 3,455,816 | Visa, Inc (Class A) | 680,416 | 0.7 | |||||||||||
| Other | 4,639,560 | 4.2 | ||||||||||||
| 11,246,514 | 10.6 | |||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | ||||||||||||||
| 25,106,902 | d | Apple, Inc | 3,432,616 | 3.3 | ||||||||||
| Other | 2,390,472 | 2.2 | ||||||||||||
| 5,823,088 | 5.5 | |||||||||||||
| TELECOMMUNICATION SERVICES | 1,588,496 | 1.5 | ||||||||||||
| TRANSPORTATION | ||||||||||||||
| 2,222,347 | Union Pacific Corp | 473,982 | 0.5 | |||||||||||
| Other | 1,584,134 | 1.4 | ||||||||||||
| 2,058,116 | 1.9 | |||||||||||||
| UTILITIES | ||||||||||||||
| 5,387,188 | NextEra Energy, Inc | 417,292 | 0.4 | |||||||||||
| Other | 2,588,420 | 2.4 | ||||||||||||
| 3,005,712 | 2.8 | |||||||||||||
| TOTAL COMMON STOCKS | (Cost $108,000,961) | 104,711,669 | 98.7 | |||||||||||
| PURCHASED OPTIONS | ||||||||||||||
| MEDIA & ENTERTAINMENT | 44 | 0.0 | ||||||||||||
| TOTAL PURCHASED OPTIONS | (Cost $39) | 44 | 0.0 | |||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 37 |
| Summary portfolio of investments (unaudited) | continued |
| CREF Stock Account ■ June 30, 2022 |
| Shares | Company | Value (000) | % of net assets | |||||||||||
| RIGHTS / WARRANTS | ||||||||||||||
| CAPITAL GOODS | $ | 43 | 0.0 | % | ||||||||||
| CONSUMER DURABLES & APPAREL | 651 | 0.0 | ||||||||||||
| DIVERSIFIED FINANCIALS | 1 | 0.0 | ||||||||||||
| ENERGY | 64 | 0.0 | ||||||||||||
| MEDIA & ENTERTAINMENT | 89 | 0.0 | ||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 1 | 0.0 | ||||||||||||
| REAL ESTATE | 12 | 0.0 | ||||||||||||
| TOTAL RIGHTS / WARRANTS | (Cost $1,695) | 861 | 0.0 | |||||||||||
| Principal | Issuer | |||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||
| GOVERNMENT AGENCY DEBT | 1,070,897 | 1.0 | ||||||||||||
| REPURCHASE AGREEMENT | 191,245 | 0.2 | ||||||||||||
| TREASURY DEBT | 125,263 | 0.2 | ||||||||||||
| INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED | ||||||||||||||
| CERTIFICATE OF DEPOSIT | 46,000 | 0.0 | ||||||||||||
| REPURCHASE AGREEMENT | 1,056,212 | 1.0 | ||||||||||||
| TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED | 1,102,212 | 1.0 | ||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $2,490,025) | 2,489,617 | 2.4 | |||||||||||
| TOTAL PORTFOLIO | (Cost $110,492,784) | 107,202,248 | 101.1 | |||||||||||
| OTHER ASSETS & LIABILITIES, NET | (1,162,190 | ) | (1.1 | ) | ||||||||||
| NET ASSETS | $ | 106,040,058 | 100.0 | % | ||||||||||
| ADR | American Depositary Receipt |
| * | Non-income producing |
| a | Affiliated holding |
| 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 $1,557,608,903. See Note 4 in the Notes to financial statements for additional information about securities lending collateral. |
| n | All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts. |
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
At 6/30/22, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933 amounted to $1,068,917,464 or 1.0% of net assets. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers.
Cost amounts are in thousands.
For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.
| 38 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
| CREF Stock Account ■ June 30, 2022 |
Purchased options outstanding as of June 30, 2022 were as follows (notional amounts and values are in thousands):
| Description/underlying investment | Number of contracts | Notional amount | Exercise price | Expiration date | Value | |||||||||||||
| Meta Platforms, Inc, Put | 20 | $ | 40 | $ | 175.00 | 08/19/22 | $ | 44 | ||||||||||
| Written options outstanding as of June 30, 2022 were as follows (notional amounts and values are in thousands): | ||||||||||||||||||
| Description/underlying investment | Number of contracts | Notional amount | Exercise price | Expiration date | Value | |||||||||||||
| Amazon.com, Inc, Call | 10 | $ | (1 | ) | $ | 126.00 | 07/15/22 | $ (0 | )^ | |||||||||
| American Express Co, Put | 30 | (5 | ) | 125.00 | 07/15/22 | (3 | ) | |||||||||||
| AutoZone, Inc, Put | 5 | (13 | ) | 1,700.00 | 09/16/22 | (10 | ) | |||||||||||
| Delta Air Lines, Inc, Put | 20 | (1 | ) | 25.00 | 07/15/22 | (1 | ) | |||||||||||
| Intuitive Surgical, Inc, Put | 20 | (21 | ) | 180.00 | 09/16/22 | (17 | ) | |||||||||||
| Meta Platforms, Inc, Call | 20 | (12 | ) | 190.00 | 08/19/22 | (9 | ) | |||||||||||
| Meta Platforms, Inc, Put | 20 | (20 | ) | 175.00 | 08/19/22 | (24 | ) | |||||||||||
| Meta Platforms, Inc, Put | 20 | (29 | ) | 165.00 | 08/19/22 | (33 | ) | |||||||||||
| Microsoft Corp, Put | 10 | (7 | ) | 235.00 | 07/15/22 | (1 | ) | |||||||||||
| NVIDIA Corp, Put | 3,178 | (3,773 | ) | 130.00 | 12/16/22 | (4,086 | ) | |||||||||||
| Paramount Global, Call | 45 | (4 | ) | 40.00 | 08/19/22 | (0 | )^ | |||||||||||
| Paramount Global, Put | 45 | (18 | ) | 32.50 | 09/16/22 | (36 | ) | |||||||||||
| PayPal Holdings, Inc, Call | 20 | (5 | ) | 115.00 | 07/15/22 | (0 | )^ | |||||||||||
| Tesla, Inc, Call | 3 | (1 | ) | 950.00 | 07/15/22 | (0 | )^ | |||||||||||
| Wolfspeed, Inc, Put | 20 | (16 | ) | 65.00 | 09/16/22 | (18 | ) | |||||||||||
| Total | 3,466 | $ | (3,926 | ) | $ | (4,257 | ) | |||||||||||
| ^ | Amount represents less than $1,000. |
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Description | Number
of long (short contracts | ) | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation | ) | |||||||||||
| Russell 2000 E Mini Index | 575 | 09/16/22 | $ | 54,206 | $ | 49,105 | $ | (5,101 | ) | |||||||||
| S&P 500 E Mini Index | 3,670 | 09/16/22 | 753,712 | 695,373 | (58,339 | ) | ||||||||||||
| S&P Mid-Cap 400 E Mini Index | 311 | 09/16/22 | 78,232 | 70,535 | (7,697 | ) | ||||||||||||
| Total | 4,556 | $ | 886,150 | $ | 815,013 | $ | (71,137 | ) | ||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 39 |
Summary portfolio of investments (unaudited)
CREF Global Equities Account ■ June 30, 2022
| Principal | Issuer | Value (000) | % of net assets | |||||||||||||||
| BONDS | ||||||||||||||||||
| CORPORATE BONDS | ||||||||||||||||||
| INDIA | $ | 15 | 0.0 | % | ||||||||||||||
| TOTAL CORPORATE BONDS | (Cost $16) | 15 | 0.0 | |||||||||||||||
| TOTAL BONDS | (Cost $16) | 15 | 0.0 | |||||||||||||||
| Shares | Company | |||||||||||||||||
| COMMON STOCKS | ||||||||||||||||||
| AUSTRALIA | ||||||||||||||||||
| 19,194,529 | Glencore Xstrata plc | 103,966 | 0.5 | |||||||||||||||
| Other | 207,779 | 0.9 | ||||||||||||||||
| 311,745 | 1.4 | |||||||||||||||||
| AUSTRIA | 18,651 | 0.1 | ||||||||||||||||
| BELGIUM | 20,892 | 0.1 | ||||||||||||||||
| BERMUDA | 1,624 | 0.0 | ||||||||||||||||
| BRAZIL | 203,464 | 0.9 | ||||||||||||||||
| CANADA | 533,911 | 2.5 | ||||||||||||||||
| CHILE | 6,430 | 0.0 | ||||||||||||||||
| CHINA | ||||||||||||||||||
| 3,172,100 | Tencent Holdings Ltd | 143,586 | 0.7 | |||||||||||||||
| Other | 537,940 | 2.4 | ||||||||||||||||
| 681,526 | 3.1 | |||||||||||||||||
| COLOMBIA | 2,167 | 0.0 | ||||||||||||||||
| CZECH REPUBLIC | 1,969 | 0.0 | ||||||||||||||||
| DENMARK | 113,263 | 0.5 | ||||||||||||||||
| EGYPT | 621 | 0.0 | ||||||||||||||||
| FINLAND | 63,831 | 0.3 | ||||||||||||||||
| FRANCE | ||||||||||||||||||
| 974,511 | Airbus SE | 95,317 | 0.4 | |||||||||||||||
| Other | 490,242 | 2.3 | ||||||||||||||||
| 585,559 | 2.7 | |||||||||||||||||
| GERMANY | ||||||||||||||||||
| 2,484,770 | Bayer AG. | 148,381 | 0.7 | |||||||||||||||
| Other | 338,735 | 1.6 | ||||||||||||||||
| 487,116 | 2.3 | |||||||||||||||||
| GREECE | 2,843 | 0.0 | ||||||||||||||||
| HONG KONG | 84,955 | 0.4 | ||||||||||||||||
| HUNGARY | 2,771 | 0.0 | ||||||||||||||||
| INDIA | 206,155 | 1.0 | ||||||||||||||||
| 40 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
CREF Global Equities Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | |||||||||||
| INDONESIA | $ | 51,501 | 0.2 | % | ||||||||||
| IRELAND | 137,590 | 0.6 | ||||||||||||
| ISRAEL | 7,505 | 0.0 | ||||||||||||
| ITALY | 170,230 | 0.8 | ||||||||||||
| JAPAN | ||||||||||||||
| 2,170,065 | Sony Corp | 176,983 | 0.8 | |||||||||||
| 7,242,210 | * | Toyota Motor Corp | 111,742 | 0.5 | ||||||||||
| Other | 801,747 | 3.7 | ||||||||||||
| 1,090,472 | 5.0 | |||||||||||||
| KOREA, REPUBLIC OF | ||||||||||||||
| 2,633,262 | Samsung Electronics Co Ltd | 116,146 | 0.6 | |||||||||||
| Other | 153,526 | 0.7 | ||||||||||||
| 269,672 | 1.3 | |||||||||||||
| KUWAIT | 12,202 | 0.1 | ||||||||||||
| LUXEMBOURG | 3,350 | 0.0 | ||||||||||||
| MACAU | 1,809 | 0.0 | ||||||||||||
| MALAYSIA | 19,310 | 0.1 | ||||||||||||
| MEXICO | 30,679 | 0.1 | ||||||||||||
| NETHERLANDS | ||||||||||||||
| 5,798,471 | Shell plc | 151,008 | 0.7 | |||||||||||
| Other | 320,892 | 1.5 | ||||||||||||
| 471,900 | 2.2 | |||||||||||||
| NORWAY | ||||||||||||||
| 3,669,298 | Equinor ASA | 127,858 | 0.6 | |||||||||||
| Other | 38,224 | 0.2 | ||||||||||||
| 166,082 | 0.8 | |||||||||||||
| PERU | 3,312 | 0.0 | ||||||||||||
| PHILIPPINES | 13,439 | 0.1 | ||||||||||||
| POLAND | 9,522 | 0.1 | ||||||||||||
| PORTUGAL | 19,510 | 0.1 | ||||||||||||
| QATAR | 14,663 | 0.1 | ||||||||||||
| ROMANIA | 549 | 0.0 | ||||||||||||
| RUSSIA | 2 | 0.0 | ||||||||||||
| SAUDI ARABIA | 69,985 | 0.3 | ||||||||||||
| SINGAPORE | 38,776 | 0.2 | ||||||||||||
| SOUTH AFRICA | 68,390 | 0.3 | ||||||||||||
| SPAIN | 91,015 | 0.4 | ||||||||||||
| SWEDEN | 154,158 | 0.7 | ||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 41 |
| Summary portfolio of investments (unaudited) | continued |
CREF Global Equities Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | |||||||||||
| SWITZERLAND | ||||||||||||||
| 186,477 | Lonza Group AG. | $ | 99,604 | 0.5 | % | |||||||||
| Other | 122,189 | 0.5 | ||||||||||||
| 221,793 | 1.0 | |||||||||||||
| TAIWAN | ||||||||||||||
| 20,068,100 | Taiwan Semiconductor Manufacturing Co Ltd | 321,618 | 1.5 | |||||||||||
| Other | 134,529 | 0.6 | ||||||||||||
| 456,147 | 2.1 | |||||||||||||
| TANZANIA, UNITED REPUBLIC OF | 1,356 | 0.0 | ||||||||||||
| THAILAND | 24,999 | 0.1 | ||||||||||||
| TURKEY | 3,593 | 0.0 | ||||||||||||
| UNITED ARAB EMIRATES | 15,942 | 0.1 | ||||||||||||
| UNITED KINGDOM | ||||||||||||||
| 1,382,154 | AstraZeneca plc | 182,336 | 0.8 | |||||||||||
| 2,392,833 | Diageo plc | 103,353 | 0.5 | |||||||||||
| 456,727 | Linde plc (Xetra) | 131,401 | 0.6 | |||||||||||
| Other | 532,435 | 2.5 | ||||||||||||
| 949,525 | 4.4 | |||||||||||||
| UNITED STATES | ||||||||||||||
| 900,443 | Abbott Laboratories | 97,833 | 0.5 | |||||||||||
| 1,271,035 | AbbVie, Inc | 194,672 | 0.9 | |||||||||||
| 1,276,262 | * | Advanced Micro Devices, Inc | 97,596 | 0.5 | ||||||||||
| 100,683 | * | Alphabet, Inc (Class A) | 219,414 | 1.0 | ||||||||||
| 104,835 | * | Alphabet, Inc (Class C) | 229,321 | 1.1 | ||||||||||
| 3,626,668 | * | Amazon.com, Inc | 385,188 | 1.8 | ||||||||||
| 4,937,770 | d | Apple, Inc | 675,092 | 3.1 | ||||||||||
| 348,803 | * | Berkshire Hathaway, Inc (Class B) | 95,230 | 0.4 | ||||||||||
| 1,997,508 | Bristol-Myers Squibb Co | 153,808 | 0.7 | |||||||||||
| 327,378 | Broadcom, Inc | 159,044 | 0.7 | |||||||||||
| 2,902,462 | Coca-Cola Co | 182,594 | 0.8 | |||||||||||
| 375,025 | Costco Wholesale Corp | 179,742 | 0.8 | |||||||||||
| 2,635,969 | Exxon Mobil Corp | 225,744 | 1.0 | |||||||||||
| 3,915,360 | Freeport-McMoRan, Inc (Class B) | 114,563 | 0.5 | |||||||||||
| 662,158 | Home Depot, Inc | 181,610 | 0.8 | |||||||||||
| 734,738 | Honeywell International, Inc | 127,705 | 0.6 | |||||||||||
| 850,796 | Johnson & Johnson | 151,025 | 0.7 | |||||||||||
| 1,173,546 | JPMorgan Chase & Co | 132,153 | 0.6 | |||||||||||
| 341,934 | e | KLA Corp | 109,104 | 0.5 | ||||||||||
| 697,443 | Mastercard, Inc (Class A) | 220,029 | 1.0 | |||||||||||
| 654,164 | McDonald’s Corp | 161,500 | 0.8 | |||||||||||
| 1,380,020 | Merck & Co, Inc | 125,816 | 0.6 | |||||||||||
| 3,285,194 | Microsoft Corp | 843,736 | 3.9 | |||||||||||
| 1,421,260 | Morgan Stanley | 108,101 | 0.5 | |||||||||||
| 990,529 | Nike, Inc (Class B) | 101,232 | 0.5 | |||||||||||
| 1,768,749 | Oracle Corp | 123,583 | 0.6 | |||||||||||
| 1,446,722 | Procter & Gamble Co | 208,024 | 1.0 | |||||||||||
| 42 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
CREF Global Equities Account ■ June 30, 2022
| Shares | Company | Value (000) | %
of net assets | |||||||||||||||
| UNITED STATES—continued | ||||||||||||||||||
| 450,431 | Roche Holding AG. | $ | 150,579 | 0.7 | % | |||||||||||||
| 380,088 | * | ServiceNow, Inc | 180,739 | 0.8 | ||||||||||||||
| 238,498 | * | Tesla, Inc | 160,609 | 0.7 | ||||||||||||||
| 880,287 | Union Pacific Corp | 187,748 | 0.9 | |||||||||||||||
| 520,096 | UnitedHealth Group, Inc | 267,137 | 1.2 | |||||||||||||||
| 870,286 | Visa, Inc (Class A) | 171,351 | 0.8 | |||||||||||||||
| 1,015,011 | Walmart, Inc | 123,405 | 0.6 | |||||||||||||||
| 1,187,270 | * | Walt Disney Co | 112,078 | 0.5 | ||||||||||||||
| 4,009,183 | Wells Fargo & Co | 157,040 | 0.7 | |||||||||||||||
| Other | 6,417,930 | 29.6 | ||||||||||||||||
| 13,532,075 | 62.4 | |||||||||||||||||
| ZAMBIA | 3,827 | 0.0 | ||||||||||||||||
| TOTAL COMMON STOCKS | (Cost $21,023,054) | 21,454,373 | 98.9 | |||||||||||||||
| RIGHTS / WARRANTS | ||||||||||||||||||
| AUSTRALIA | 2 | 0.0 | ||||||||||||||||
| SWITZERLAND | 109 | 0.0 | ||||||||||||||||
| TOTAL RIGHTS / WARRANTS | (Cost $19) | 111 | 0.0 | |||||||||||||||
| Principal | Issuer | |||||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||||
| GOVERNMENT AGENCY DEBT | 134,672 | 0.6 | ||||||||||||||||
| REPURCHASE AGREEMENTS | 66,435 | 0.3 | ||||||||||||||||
| TREASURY DEBT | 12,002 | 0.1 | ||||||||||||||||
| INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED | ||||||||||||||||||
| CERTIFICATE OF DEPOSIT | 7,500 | 0.0 | ||||||||||||||||
| REPURCHASE AGREEMENTS | 121,277 | 0.6 | ||||||||||||||||
| TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED | 128,777 | 0.6 | ||||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $341,992) | 341,886 | 1.6 | |||||||||||||||
| TOTAL PORTFOLIO | (Cost $21,365,081) | 21,796,385 | 100.5 | |||||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (101,016 | ) | (0.5 | ) | ||||||||||||||
| NET ASSETS | $ | 21,695,369 | 100.0 | % | ||||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 43 |
| Summary portfolio of investments (unaudited) | concluded |
CREF Global Equities Account ■ June 30, 2022
| * | Non-income producing |
| 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 $180,532,886. See Note 4 in the Notes to financial statements for additional information about securities lending collateral. |
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
At 6/30/22, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933 amounted to $210,502,752 or 1.0% of net assets. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers.
Cost amounts are in thousands.
For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Description | Number of long (short contracts | ) | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation | ) | |||||||||||
| MSCI EAFE Index | 331 | 09/16/22 | $ | 32,461 | $ | 30,727 | $ | (1,734 | ) | |||||||||
| S&P 500 E Mini Index | 399 | 09/16/22 | 80,334 | 75,601 | (4,733 | ) | ||||||||||||
| Total | 730 | $ | 112,795 | $ | 106,328 | $ | (6,467 | ) | ||||||||||
| 44 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
Summary portfolio of investments (unaudited)
CREF Growth Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | ||||||||||
| COMMON STOCKS | |||||||||||||
| AUTOMOBILES & COMPONENTS | |||||||||||||
| 1,019,046 | * | Tesla, Inc | $ | 686,246 | 2.6 | % | |||||||
| Other | 120,152 | 0.5 | |||||||||||
| 806,398 | 3.1 | ||||||||||||
| CAPITAL GOODS | |||||||||||||
| 5,760,444 | Carrier Global Corp | 205,417 | 0.8 | ||||||||||
| 711,053 | Deere & Co | 212,939 | 0.8 | ||||||||||
| 2,123,867 | Raytheon Technologies Corp | 204,125 | 0.8 | ||||||||||
| Other | 225,982 | 0.8 | |||||||||||
| 848,463 | 3.2 | ||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | |||||||||||||
| 1,927,136 | Waste Connections, Inc | 238,888 | 0.9 | ||||||||||
| Other | 216,810 | 0.8 | |||||||||||
| 455,698 | 1.7 | ||||||||||||
| CONSUMER DURABLES & APPAREL | 285,335 | 1.1 | |||||||||||
| CONSUMER SERVICES | |||||||||||||
| 273,302 | * | Booking Holdings, Inc | 478,002 | 1.8 | |||||||||
| 6,670,691 | * | Las Vegas Sands Corp | 224,068 | 0.9 | |||||||||
| Other | 84,488 | 0.3 | |||||||||||
| 786,558 | 3.0 | ||||||||||||
| DIVERSIFIED FINANCIALS | |||||||||||||
| 2,471,300 | Charles Schwab Corp | 156,137 | 0.6 | ||||||||||
| 701,627 | e | iShares Russell 1000 Growth Index Fund | 153,446 | 0.6 | |||||||||
| 501,798 | S&P Global, Inc | 169,136 | 0.6 | ||||||||||
| Other | 65,041 | 0.3 | |||||||||||
| 543,760 | 2.1 | ||||||||||||
| ENERGY | |||||||||||||
| 2,781,979 | EOG Resources, Inc | 307,242 | 1.2 | ||||||||||
| Other | 286,431 | 1.1 | |||||||||||
| 593,673 | 2.3 | ||||||||||||
| FOOD & STAPLES RETAILING | |||||||||||||
| 1,458,863 | Costco Wholesale Corp | 699,204 | 2.7 | ||||||||||
| 699,204 | 2.7 | ||||||||||||
| FOOD, BEVERAGE & TOBACCO | |||||||||||||
| 4,429,475 | * | Monster Beverage Corp | 410,613 | 1.6 | |||||||||
| 1,293,257 | PepsiCo, Inc | 215,534 | 0.8 | ||||||||||
| Other | 54,159 | 0.2 | |||||||||||
| 680,306 | 2.6 | ||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 45 |
| Summary portfolio of investments (unaudited) | continued |
CREF Growth Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | ||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | |||||||||||||
| 504,909 | Anthem, Inc | $ | 243,659 | 0.9 | % | ||||||||
| 3,462,353 | * | Dexcom, Inc | 258,049 | 1.0 | |||||||||
| 1,230,425 | * | Intuitive Surgical, Inc | 246,959 | 0.9 | |||||||||
| 965,884 | UnitedHealth Group, Inc | 496,107 | 1.9 | ||||||||||
| Other | 320,116 | 1.1 | |||||||||||
| 1,564,890 | 5.8 | ||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | 109,600 | 0.4 | |||||||||||
| INSURANCE | 126,224 | 0.5 | |||||||||||
| MATERIALS | |||||||||||||
| 919,413 | Sherwin-Williams Co | 205,866 | 0.8 | ||||||||||
| Other | 193,058 | 0.7 | |||||||||||
| 398,924 | 1.5 | ||||||||||||
| MEDIA & ENTERTAINMENT | |||||||||||||
| 442,512 | * | Alphabet, Inc (Class A) | 964,349 | 3.7 | |||||||||
| 320,526 | * | Alphabet, Inc (Class C) | 701,135 | 2.7 | |||||||||
| 2,794,982 | * | Match Group, Inc | 194,782 | 0.7 | |||||||||
| 3,068,229 | * | Meta Platforms, Inc | 494,752 | 1.9 | |||||||||
| Other | 331,451 | 1.2 | |||||||||||
| 2,686,469 | 10.2 | ||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | |||||||||||||
| 1,742,629 | AbbVie, Inc | 266,901 | 1.0 | ||||||||||
| 3,633,701 | AstraZeneca plc (ADR) | 240,079 | 0.9 | ||||||||||
| 9,452,357 | * | Avantor, Inc | 293,968 | 1.1 | |||||||||
| 914,518 | Eli Lilly & Co | 296,514 | 1.1 | ||||||||||
| 3,257,977 | * | Horizon Therapeutics Plc | 259,856 | 1.0 | |||||||||
| 2,456,448 | Zoetis, Inc | 422,239 | 1.6 | ||||||||||
| Other | 163,861 | 0.7 | |||||||||||
| 1,943,418 | 7.4 | ||||||||||||
| RETAILING | |||||||||||||
| 14,004,515 | * | Amazon.com, Inc | 1,487,419 | 5.6 | |||||||||
| 1,357,598 | Lowe’s Companies, Inc | 237,132 | 0.9 | ||||||||||
| 2,881,347 | TJX Companies, Inc | 160,923 | 0.6 | ||||||||||
| Other | 358,238 | 1.4 | |||||||||||
| 2,243,712 | 8.5 | ||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | |||||||||||||
| 2,184,798 | * | Advanced Micro Devices, Inc | 167,071 | 0.6 | |||||||||
| 1,999,204 | Applied Materials, Inc | 181,888 | 0.7 | ||||||||||
| 1,036,275 | Broadcom, Inc | 503,433 | 1.9 | ||||||||||
| 582,941 | Lam Research Corp | 248,420 | 0.9 | ||||||||||
| 429,113 | Monolithic Power Systems, Inc | 164,797 | 0.6 | ||||||||||
| 3,392,212 | NVIDIA Corp | 514,225 | 2.0 | ||||||||||
| Other | 149,512 | 0.6 | |||||||||||
| 1,929,346 | 7.3 | ||||||||||||
| 46 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
CREF Growth Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | ||||||||||||
| SOFTWARE & SERVICES | |||||||||||||||
| 685,831 | Accenture plc | $ | 190,421 | 0.7 | % | ||||||||||
| 922,580 | Intuit, Inc | 355,599 | 1.3 | ||||||||||||
| 2,352,033 | Mastercard, Inc (Class A) | 742,019 | 2.8 | ||||||||||||
| 11,777,472 | Microsoft Corp | 3,024,808 | 11.5 | ||||||||||||
| 2,176,370 | Oracle Corp | 152,063 | 0.6 | ||||||||||||
| 593,731 | * | Palo Alto Networks, Inc | 293,268 | 1.1 | |||||||||||
| 3,145,473 | * | salesforce.com, Inc | 519,129 | 2.0 | |||||||||||
| 920,016 | * | ServiceNow, Inc | 437,486 | 1.7 | |||||||||||
| 837,412 | * | Synopsys, Inc | 254,322 | 1.0 | |||||||||||
| 4,095,713 | Visa, Inc (Class A) | 806,405 | 3.1 | ||||||||||||
| Other | 771,617 | 2.9 | |||||||||||||
| 7,547,137 | 28.7 | ||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | |||||||||||||||
| 10,968,962 | Apple, Inc | 1,499,676 | 5.7 | ||||||||||||
| 1,499,676 | 5.7 | ||||||||||||||
| TRANSPORTATION | |||||||||||||||
| 1,706,642 | Union Pacific Corp | 363,993 | 1.4 | ||||||||||||
| Other | 107,448 | 0.4 | |||||||||||||
| 471,441 | 1.8 | ||||||||||||||
| TOTAL COMMON STOCKS | (Cost $29,090,620) | 26,220,232 | 99.6 | ||||||||||||
| Principal | Issuer | ||||||||||||||
| SHORT-TERM INVESTMENTS | |||||||||||||||
| GOVERNMENT AGENCY DEBT | 9,994 | 0.1 | |||||||||||||
| REPURCHASE AGREEMENT | 48,845 | 0.2 | |||||||||||||
| Shares | Company | ||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | |||||||||||||||
| 83,078,702 | c | State Street Navigator Securities Lending | |||||||||||||
| Government Money Market Portfolio | 1.540% | 83,079 | 0.3 | ||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $141,919) | 141,918 | 0.6 | ||||||||||||
| TOTAL PORTFOLIO | (Cost $29,232,539) | 26,362,150 | 100.2 | ||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (42,026 | ) | (0.2 | ) | |||||||||||
| NET ASSETS | $ | 26,320,124 | 100.0 | % | |||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 47 |
| Summary portfolio of investments (unaudited) | concluded |
CREF Growth Account ■ June 30, 2022
| 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 $79,609,072. See Note 4 in the Notes to financial statements for additional information about securities lending collateral. |
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
At 6/30/22, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933 amounted to $62,510,705 or 0.2% of net assets. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers.
Cost amounts are in thousands.
For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.
| 48 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
Summary portfolio of investments (unaudited)
CREF Equity Index Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | ||||||||||
| COMMON STOCKS | |||||||||||||
| AUTOMOBILES & COMPONENTS | |||||||||||||
| 437,844 | * | Tesla, Inc | $ | 294,853 | 1.5 | % | |||||||
| Other | 100,614 | 0.5 | |||||||||||
| 395,467 | 2.0 | ||||||||||||
| BANKS | |||||||||||||
| 3,626,639 | Bank of America Corp | 112,897 | 0.6 | ||||||||||
| 1,506,142 | JPMorgan Chase & Co | 169,607 | 0.9 | ||||||||||
| 1,958,307 | Wells Fargo & Co | 76,707 | 0.4 | ||||||||||
| Other | 432,867 | 2.2 | |||||||||||
| 792,078 | 4.1 | ||||||||||||
| CAPITAL GOODS | |||||||||||||
| 767,844 | Raytheon Technologies Corp | 73,797 | 0.4 | ||||||||||
| Other | 1,056,091 | 5.4 | |||||||||||
| 1,129,888 | 5.8 | ||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 228,952 | 1.2 | |||||||||||
| CONSUMER DURABLES & APPAREL | 221,961 | 1.1 | |||||||||||
| CONSUMER SERVICES | |||||||||||||
| 379,214 | McDonald’s Corp | 93,620 | 0.5 | ||||||||||
| Other | 308,739 | 1.6 | |||||||||||
| 402,359 | 2.1 | ||||||||||||
| DIVERSIFIED FINANCIALS | |||||||||||||
| 929,434 | * | Berkshire Hathaway, Inc (Class B) | 253,754 | 1.3 | |||||||||
| Other | 743,264 | 3.8 | |||||||||||
| 997,018 | 5.1 | ||||||||||||
| ENERGY | |||||||||||||
| 1,014,766 | Chevron Corp | 146,918 | 0.8 | ||||||||||
| 2,176,875 | d | Exxon Mobil Corp | 186,428 | 1.0 | |||||||||
| Other | 524,305 | 2.6 | |||||||||||
| 857,651 | 4.4 | ||||||||||||
| FOOD & STAPLES RETAILING | |||||||||||||
| 228,617 | Costco Wholesale Corp | 109,572 | 0.6 | ||||||||||
| 744,376 | Walmart, Inc | 90,501 | 0.5 | ||||||||||
| Other | 78,544 | 0.3 | |||||||||||
| 278,617 | 1.4 | ||||||||||||
| FOOD, BEVERAGE & TOBACCO | |||||||||||||
| 2,006,757 | Coca-Cola Co | 126,245 | 0.7 | ||||||||||
| 710,302 | PepsiCo, Inc | 118,379 | 0.6 | ||||||||||
| 800,142 | Philip Morris International, Inc | 79,006 | 0.4 | ||||||||||
| Other | 337,537 | 1.7 | |||||||||||
| 661,167 | 3.4 | ||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 49 |
| Summary portfolio of investments (unaudited) | continued |
CREF Equity Index Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | ||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | |||||||||||||
| 885,434 | Abbott Laboratories | $ | 96,202 | 0.5 | % | ||||||||
| 481,840 | UnitedHealth Group, Inc | 247,487 | 1.3 | ||||||||||
| Other | 839,486 | 4.3 | |||||||||||
| 1,183,175 | 6.1 | ||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | |||||||||||||
| 1,229,953 | Procter & Gamble Co | 176,855 | 0.9 | ||||||||||
| Other | 125,780 | 0.7 | |||||||||||
| 302,635 | 1.6 | ||||||||||||
| INSURANCE | 456,340 | 2.3 | |||||||||||
| MATERIALS | |||||||||||||
| 257,387 | Linde plc | 74,007 | 0.4 | ||||||||||
| Other | 486,140 | 2.5 | |||||||||||
| 560,147 | 2.9 | ||||||||||||
| MEDIA & ENTERTAINMENT | |||||||||||||
| 155,040 | * | Alphabet, Inc (Class A) | 337,872 | 1.7 | |||||||||
| 141,572 | * | Alphabet, Inc (Class C) | 309,682 | 1.6 | |||||||||
| 2,296,218 | Comcast Corp (Class A) | 90,104 | 0.5 | ||||||||||
| 1,183,999 | * | Meta Platforms, Inc | 190,920 | 1.0 | |||||||||
| 940,845 | * | Walt Disney Co | 88,816 | 0.5 | |||||||||
| Other | 304,097 | 1.5 | |||||||||||
| 1,321,491 | 6.8 | ||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | |||||||||||||
| 912,597 | AbbVie, Inc | 139,773 | 0.7 | ||||||||||
| 1,099,704 | Bristol-Myers Squibb Co | 84,677 | 0.5 | ||||||||||
| 334,260 | Danaher Corp | 84,742 | 0.5 | ||||||||||
| 435,090 | Eli Lilly & Co | 141,069 | 0.7 | ||||||||||
| 1,355,645 | Johnson & Johnson | 240,641 | 1.3 | ||||||||||
| 1,306,254 | Merck & Co, Inc | 119,091 | 0.6 | ||||||||||
| 2,912,669 | Pfizer, Inc | 152,711 | 0.8 | ||||||||||
| 202,038 | Thermo Fisher Scientific, Inc | 109,763 | 0.6 | ||||||||||
| Other | 632,748 | 3.0 | |||||||||||
| 1,705,215 | 8.7 | ||||||||||||
| REAL ESTATE | 711,350 | 3.6 | |||||||||||
| RETAILING | |||||||||||||
| 4,582,723 | * | Amazon.com, Inc | 486,731 | 2.5 | |||||||||
| 533,539 | Home Depot, Inc | 146,334 | 0.8 | ||||||||||
| Other | 400,541 | 2.0 | |||||||||||
| 1,033,606 | 5.3 | ||||||||||||
| 50 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
CREF Equity Index Account ■ June 30, 2022
| Shares | Company | Value (000) | %
of net assets | ||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | |||||||||||||||
| 204,994 | Broadcom, Inc | $ | 99,588 | 0.5 | % | ||||||||||
| 2,108,703 | Intel Corp | 78,887 | 0.4 | ||||||||||||
| 1,243,534 | NVIDIA Corp | 188,507 | 1.0 | ||||||||||||
| 578,590 | QUALCOMM, Inc | 73,909 | 0.4 | ||||||||||||
| 472,207 | Texas Instruments, Inc | 72,555 | 0.4 | ||||||||||||
| Other | 379,479 | 1.9 | |||||||||||||
| 892,925 | 4.6 | ||||||||||||||
| SOFTWARE & SERVICES | |||||||||||||||
| 327,184 | Accenture plc | 90,843 | 0.5 | ||||||||||||
| 243,674 | * | Adobe, Inc | 89,199 | 0.5 | |||||||||||
| 442,681 | Mastercard, Inc (Class A) | 139,657 | 0.7 | ||||||||||||
| 3,860,163 | Microsoft Corp | 991,406 | 5.1 | ||||||||||||
| 496,945 | * | salesforce.com, Inc | 82,016 | 0.4 | |||||||||||
| 847,129 | Visa, Inc (Class A) | 166,791 | 0.9 | ||||||||||||
| Other | 1,078,990 | 5.4 | |||||||||||||
| 2,638,902 | 13.5 | ||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | |||||||||||||||
| 7,886,739 | Apple, Inc | 1,078,275 | 5.5 | ||||||||||||
| 2,146,928 | Cisco Systems, Inc | 91,545 | 0.5 | ||||||||||||
| Other | 249,612 | 1.3 | |||||||||||||
| 1,419,432 | 7.3 | ||||||||||||||
| TELECOMMUNICATION SERVICES | |||||||||||||||
| 3,697,005 | AT&T, Inc | 77,489 | 0.4 | ||||||||||||
| 2,170,291 | Verizon Communications, Inc | 110,142 | 0.6 | ||||||||||||
| Other | 59,779 | 0.3 | |||||||||||||
| 247,410 | 1.3 | ||||||||||||||
| TRANSPORTATION | 360,138 | 1.8 | |||||||||||||
| UTILITIES | |||||||||||||||
| 1,013,777 | NextEra Energy, Inc | 78,527 | 0.4 | ||||||||||||
| Other | 508,202 | 2.6 | |||||||||||||
| 586,729 | 3.0 | ||||||||||||||
| TOTAL COMMON STOCKS | (Cost $7,858,225) | 19,384,653 | 99.4 | ||||||||||||
| Principal | Issuer | ||||||||||||||
| SHORT-TERM INVESTMENTS | |||||||||||||||
| GOVERNMENT AGENCY DEBT | 9,995 | 0.0 | |||||||||||||
| REPURCHASE AGREEMENT | 63,745 | 0.3 | |||||||||||||
| TREASURY DEBT | 9,999 | 0.1 | |||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 51 |
| Summary portfolio of investments (unaudited) | concluded |
CREF Equity Index Account ■ June 30, 2022
| Shares | Company | Value (000) | %
of net assets | |||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||
| 155,625,754 | c | State Street Navigator Securities Lending | ||||||||||||
| Government Money Market Portfolio | 1.540% | $ | 155,626 | 0.8 | % | |||||||||
| 155,626 | 0.8 | |||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $239,365) | 239,365 | 1.2 | |||||||||||
| TOTAL PORTFOLIO | (Cost $8,097,590) | 19,624,018 | 100.6 | |||||||||||
| OTHER ASSETS & LIABILITIES, NET | (117,410 | ) | (0.6 | ) | ||||||||||
| NET ASSETS | $ | 19,506,608 | 100.0 | % | ||||||||||
| * | Non-income producing |
| c | Investments made with cash collateral received from securities on loan. |
| d | All or a portion of these securities have been segregated to cover margin requirements on open futures contracts. |
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
At 6/30/22, the aggregate value of securities on loan is $193,609,744. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.
Cost amounts are in thousands.
For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Description | Number of long (short contracts | ) | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation | ) | |||||||||||
| S&P 500 E Mini Index | 552 | 09/16/22 | $110,519 | $104,590 | $(5,929 | ) | ||||||||||||
| 52 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
Summary portfolio of investments (unaudited)
CREF Core Bond Account ■ June 30, 2022
| Principal | Issuer | Value (000) | % of net assets | ||||||||||||
| BANK LOAN OBLIGATIONS | |||||||||||||||
| AUTOMOBILES & COMPONENTS | $ | 3,425 | 0.0 | % | |||||||||||
| CAPITAL GOODS | 4,948 | 0.1 | |||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 9,046 | 0.1 | |||||||||||||
| CONSUMER DURABLES & APPAREL | 369 | 0.0 | |||||||||||||
| CONSUMER SERVICES | 6,558 | 0.1 | |||||||||||||
| DIVERSIFIED FINANCIALS | 2,453 | 0.0 | |||||||||||||
| ENERGY | 3,979 | 0.0 | |||||||||||||
| FOOD, BEVERAGE & TOBACCO | 1,372 | 0.0 | |||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 9,322 | 0.1 | |||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | 531 | 0.0 | |||||||||||||
| INSURANCE | 4,272 | 0.0 | |||||||||||||
| MATERIALS | 5,548 | 0.1 | |||||||||||||
| MEDIA & ENTERTAINMENT | 15,215 | 0.1 | |||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 3,674 | 0.0 | |||||||||||||
| REAL ESTATE | 1,269 | 0.0 | |||||||||||||
| RETAILING | 851 | 0.0 | |||||||||||||
| SOFTWARE & SERVICES | 6,842 | 0.1 | |||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | 1,870 | 0.0 | |||||||||||||
| TELECOMMUNICATION SERVICES | 573 | 0.0 | |||||||||||||
| TRANSPORTATION | 1,117 | 0.0 | |||||||||||||
| UTILITIES | 795 | 0.0 | |||||||||||||
| TOTAL BANK LOAN OBLIGATIONS | (Cost $89,708) | 84,029 | 0.7 | ||||||||||||
| BONDS | |||||||||||||||
| CORPORATE BONDS | |||||||||||||||
| AUTOMOBILES & COMPONENTS | 46,197 | 0.4 | |||||||||||||
| BANKS | |||||||||||||||
| $ | 55,925,000 | Bank of America Corp | 2.592%, 04/29/31 | 47,432 | 0.4 | ||||||||||
| 39,000,000 | Bank of America Corp | 1.922%, 10/24/31 | 31,153 | 0.3 | |||||||||||
| 36,375,000 | Citigroup, Inc | 3.200%, 10/21/26 | 34,612 | 0.3 | |||||||||||
| Other | 779,823 | 6.8 | |||||||||||||
| 893,020 | 7.8 | ||||||||||||||
| CAPITAL GOODS | 136,201 | 1.2 | |||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 19,998 | 0.2 | |||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 53 |
| Summary portfolio of investments (unaudited) | continued |
| CREF Core Bond Account ■ June 30, 2022 |
| Principal | Issuer | Value (000) | % of net assets | ||||||||||||
| CONSUMER DURABLES & APPAREL | $ | 147 | 0.0 | % | |||||||||||
| CONSUMER SERVICES | 96,786 | 0.8 | |||||||||||||
| DIVERSIFIED FINANCIALS | 417,239 | 3.6 | |||||||||||||
| ENERGY | 365,137 | 3.2 | |||||||||||||
| FOOD & STAPLES RETAILING | 21,413 | 0.2 | |||||||||||||
| FOOD, BEVERAGE & TOBACCO | 120,604 | 1.0 | |||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 174,718 | 1.5 | |||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | 5,923 | 0.0 | |||||||||||||
| INSURANCE | 156,418 | 1.4 | |||||||||||||
| MATERIALS | 145,185 | 1.3 | |||||||||||||
| MEDIA & ENTERTAINMENT | 267,093 | 2.3 | |||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 105,165 | 0.9 | |||||||||||||
| REAL ESTATE | |||||||||||||||
| $ | 42,100,000 | g | SBA Tower Trust | 1.840%, 04/15/27 | 37,510 | 0.3 | |||||||||
| Other | 249,608 | 2.2 | |||||||||||||
| 287,118 | 2.5 | ||||||||||||||
| RETAILING | 53,024 | 0.5 | |||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 68,127 | 0.6 | |||||||||||||
| SOFTWARE & SERVICES | 67,480 | 0.6 | |||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | 57,110 | 0.5 | |||||||||||||
| TELECOMMUNICATION SERVICES | |||||||||||||||
| 42,943,000 | AT&T, Inc | 2.550%, 12/01/33 | 34,837 | 0.3 | |||||||||||
| Other | 228,643 | 2.0 | |||||||||||||
| 263,480 | 2.3 | ||||||||||||||
| TRANSPORTATION | 48,683 | 0.4 | |||||||||||||
| UTILITIES | 357,670 | 3.1 | |||||||||||||
| TOTAL CORPORATE BONDS | (Cost $4,752,021) | 4,173,936 | 36.3 | ||||||||||||
| GOVERNMENT BONDS | |||||||||||||||
| AGENCY SECURITIES | 50,736 | 0.4 | |||||||||||||
| FOREIGN GOVERNMENT BONDS | 515,383 | 4.5 | |||||||||||||
| MORTGAGE BACKED | |||||||||||||||
| 33,165,000 | g,i | Freddie Mac STACR REMIC Trust | 4.276%, 05/25/42 | 31,530 | 0.3 | ||||||||||
| 31,100,000 | g,i | Freddie Mac Structured Agency Credit Risk Debt Notes | 5.279%, 06/25/42 | 31,256 | 0.3 | ||||||||||
| 37,048,674 | Federal Home Loan Mortgage Corp (FHLMC) | 3.000%, 11/01/51 | 35,040 | 0.3 | |||||||||||
| 43,480,754 | FHLMC | 2.000%, 02/01/52 | 37,904 | 0.3 | |||||||||||
| 43,708,122 | FHLMC | 2.500%, 02/01/52 | 39,484 | 0.3 | |||||||||||
| 83,702,371 | FHLMC | 2.500%, 03/01/52 | 75,617 | 0.7 | |||||||||||
| 31,905,000 | Federal National Mortgage Association (FNMA) | 2.500%, 07/25/32 | 30,466 | 0.3 | |||||||||||
| 54 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
| CREF Core Bond Account ■ June 30, 2022 |
| Principal | Issuer | Value (000) | % of net assets | ||||||||||||
| MORTGAGE BACKED—continued | |||||||||||||||
| $ | 45,240,000 | FNMA | 3.000%, 07/25/37 | $ | 44,200 | 0.4 | % | ||||||||
| 86,505,265 | FNMA | 2.000%, 04/01/51 | 75,194 | 0.7 | |||||||||||
| 52,148,161 | h | FNMA | 2.000%, 12/01/51 | 45,461 | 0.4 | ||||||||||
| 41,206,385 | h | FNMA | 2.000%, 02/01/52 | 35,921 | 0.3 | ||||||||||
| 103,988,164 | FNMA | 2.500%, 02/01/52 | 93,892 | 0.8 | |||||||||||
| 188,066,688 | FNMA | 3.000%, 04/01/52 | 175,939 | 1.6 | |||||||||||
| 46,454,561 | FNMA | 4.000%, 05/01/52 | 45,863 | 0.4 | |||||||||||
| 37,950,000 | h | FNMA | 3.500%, 07/25/52 | 36,494 | 0.3 | ||||||||||
| 59,425,000 | h | FNMA | 4.000%, 07/25/49 | 58,597 | 0.5 | ||||||||||
| 49,900,000 | h | FNMA | 4.500%, 07/25/49 | 50,089 | 0.4 | ||||||||||
| 55,470,000 | h | FNMA | 5.000%, 07/25/52 | 56,614 | 0.5 | ||||||||||
| 741,391,219 | h | FNMA | 2.000%–9.000%, 07/01/24–08/25/52 | 656,103 | 5.6 | ||||||||||
| 47,824,772 | Government National Mortgage Association (GNMA) | 2.500%, 05/20/52 | 43,825 | 0.4 | |||||||||||
| 93,304,975 | GNMA | 3.000%, 05/20/52 | 88,077 | 0.8 | |||||||||||
| Other | 473,083 | 4.1 | |||||||||||||
| 2,260,649 | 19.7 | ||||||||||||||
| MUNICIPAL BONDS | 349,516 | 3.0 | |||||||||||||
| U.S. TREASURY SECURITIES | |||||||||||||||
| 35,680,000 | United States Treasury Bond | 3.000%, 05/15/45 | 33,096 | 0.3 | |||||||||||
| 41,710,000 | United States Treasury Bond | 2.875%, 08/15/45 | 37,891 | 0.3 | |||||||||||
| 52,140,000 | United States Treasury Bond | 2.500%, 05/15/46 | 44,193 | 0.4 | |||||||||||
| 51,995,000 | United States Treasury Bond | 3.000%, 08/15/48 | 49,129 | 0.4 | |||||||||||
| 136,879,000 | United States Treasury Bond | 2.750%–4.750%, 02/15/37–11/15/48 | 139,680 | 1.3 | |||||||||||
| 35,070,660 | k | United States Treasury Inflation Indexed Bonds | 0.500%, 04/15/24 | 35,556 | 0.3 | ||||||||||
| 39,285,000 | United States Treasury Note | 0.125%, 08/31/22 | 39,191 | 0.4 | |||||||||||
| 73,500,000 | United States Treasury Note | 0.250%, 11/15/23 | 70,830 | 0.6 | |||||||||||
| 98,250,000 | e | United States Treasury Note | 2.500%, 05/31/24 | 97,363 | 0.9 | ||||||||||
| 125,795,000 | United States Treasury Note | 2.875%, 06/15/25 | 125,294 | 1.1 | |||||||||||
| 230,125,000 | e | United States Treasury Note | 2.625%, 05/31/27 | 225,774 | 2.0 | ||||||||||
| 305,533,000 | e | United States Treasury Note | 2.875%, 05/15/32 | 302,096 | 2.6 | ||||||||||
| 85,325,800 | United States Treasury Note | 2.250%, 02/15/42 | 72,354 | 0.6 | |||||||||||
| 305,962,000 | United States Treasury Note | 2.250%, 02/15/52 | 251,797 | 2.2 | |||||||||||
| 35,000,000 | United States Treasury Note | 2.875%, 05/15/52 | 33,059 | 0.3 | |||||||||||
| Other | 125,780 | 1.0 | |||||||||||||
| 1,683,083 | 14.7 | ||||||||||||||
| TOTAL GOVERNMENT BONDS | (Cost $5,144,290) | 4,859,367 | 42.3 | ||||||||||||
| STRUCTURED ASSETS | |||||||||||||||
| ASSET BACKED | |||||||||||||||
| 32,000,000 | g | Avis Budget Rental Car Funding AESOP LLC Series - 2017 2A (Class A) | 2.970%, 03/20/24 | 31,898 | 0.3 | ||||||||||
| 37,312,500 | g | DB Master Finance LLC Series - 2021 1A (Class A2I) | 2.045%, 11/20/51 | 33,128 | 0.3 | ||||||||||
| 34,000,000 | Santander Drive Auto Receivables Trust Series - 2021 4 (Class D) | 1.670%, 10/15/27 | 31,624 | 0.3 | |||||||||||
| Other | 678,578 | 5.8 | |||||||||||||
| 775,228 | 6.7 | ||||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 55 |
| Summary portfolio of investments (unaudited) | continued |
| CREF Core Bond Account ■ June 30, 2022 |
| Principal | Issuer | Value (000) | % of net assets | ||||||||||||
| OTHER MORTGAGE BACKED | $ | 1,358,203 | 11.8 | % | |||||||||||
| TOTAL STRUCTURED ASSETS | (Cost $2,325,760) | 2,133,431 | 18.5 | ||||||||||||
| TOTAL BONDS | (Cost $12,222,071) | 11,166,734 | 97.1 | ||||||||||||
| PREFERRED STOCKS | |||||||||||||||
| BANKS | 6,872 | 0.1 | |||||||||||||
| TOTAL PREFERRED STOCKS | (Cost $49,941) | 6,872 | 0.1 | ||||||||||||
| SHORT-TERM INVESTMENTS | |||||||||||||||
| GOVERNMENT AGENCY DEBT | |||||||||||||||
| $ | 35,000,000 | Federal Home Loan Bank (FHLB) | 0.000%, 07/07/22 | 34,992 | 0.3 | ||||||||||
| Other | 269,434 | 2.3 | |||||||||||||
| 304,426 | 2.6 | ||||||||||||||
| REPURCHASE AGREEMENT | 25,220 | 0.2 | |||||||||||||
| TREASURY DEBT | |||||||||||||||
| 40,000,000 | United States Treasury Bill | 0.000%, 08/11/22 | 39,942 | 0.3 | |||||||||||
| 50,000,000 | United States Treasury Note | 1.500%, 09/15/22 | 49,983 | 0.4 | |||||||||||
| Other | 39,950 | 0.4 | |||||||||||||
| 129,875 | 1.1 | ||||||||||||||
| Shares | Company | ||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | |||||||||||||||
| 168,751,931 | c | State Street Navigator Securities Lending Government Money Market Portfolio |
1.540% | 168,752 | 1.5 | ||||||||||
| 168,752 | 1.5 | ||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $629,002) | 628,273 | 5.4 | ||||||||||||
| TOTAL PORTFOLIO | (Cost $12,990,722) | 11,885,908 | 103.3 | % | |||||||||||
| OTHER ASSETS & LIABILITIES, NET | (382,963 | ) | (3.3 | )% | |||||||||||
| NET ASSETS | $ | 11,502,945 | 100.0 | % | |||||||||||
| REMIC | Real Estate Mortgage Investment Conduit |
| 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 $170,562,186. See Note 4 in the Notes to financial statements for additional information about securities lending collateral. |
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/22, the aggregate value of these securities, including those in “Other,” is $2,702,048,165 or 23.5% 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. |
| k | Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index. |
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
Cost amounts are in thousands.
| 56 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
| CREF Core Bond Account ■ June 30, 2022 |
For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Description | Number of long (short contracts | ) | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation | ) | |||||||||||
| Ultra U.S. Treasury Bond | 250 | 09/21/22 | $ | 38,076 | $ | 38,586 | $510 | |||||||||||
Forward foreign currency contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Currency to be purchased | Receive | Currency to be sold | Deliver | Counterparty | Settlement date | Unrealized appreciation (depreciation) | ||||||||
| $ | 24,339 | CNY | 161,179 | Australia and New Zealand Banking Group | 07/29/22 | $ | 268 | |||||||
| $ | 294 | EUR | 277 | Australia and New Zealand Banking Group | 07/29/22 | 2 | ||||||||
| $ | 362 | EUR | 347 | Australia and New Zealand Banking Group | 07/29/22 | (2 | ) | |||||||
| $ | 375 | EUR | 355 | Australia and New Zealand Banking Group | 07/29/22 | 3 | ||||||||
| $ | 861 | NZD | 1,312 | Australia and New Zealand Banking Group | 07/29/22 | 41 | ||||||||
| EUR | 4 | $ | 4 | Australia and New Zealand Banking Group | 07/29/22 | (0 | )^ | |||||||
| EUR | 332 | $ | 351 | Australia and New Zealand Banking Group | 07/29/22 | (3 | ) | |||||||
| EUR | 293 | $ | 308 | Australia and New Zealand Banking Group | 07/29/22 | 0 | ^ | |||||||
| Total | $ | 309 | ||||||||||||
| $ | 76,723 | EUR | 71,506 | Bank of America | 07/29/22 | $ | 1,641 | |||||||
| $ | 391 | PEN | 1,452 | Bank of America | 07/05/22 | 12 | ||||||||
| $ | 630 | SEK | 6,188 | Bank of America | 07/29/22 | 25 | ||||||||
| PEN | 1,452 | $ | 379 | Bank of America | 07/05/22 | (0) | ^ | |||||||
| Total | $ | 1,678 | ||||||||||||
| $ | 402 | HUF | 153,078 | Citibank N.A. | 07/29/22 | $ | (1 | ) | ||||||
| $ | 6,625 | KRW | 8,391,813 | Citibank N.A. | 09/02/22 | 106 | ||||||||
| $ | 499 | NZD | 789 | Citibank N.A. | 07/29/22 | 6 | ||||||||
| $ | 343 | PLN | 1,523 | Citibank N.A. | 07/29/22 | 4 | ||||||||
| $ | 684 | THB | 24,145 | Citibank N.A. | 08/02/22 | (0 | )^ | |||||||
| CAD | 764 | $ | 594 | Citibank N.A. | 07/29/22 | (1 | ) | |||||||
| GBP | 1,752 | $ | 2,203 | Citibank N.A. | 07/29/22 | (69 | ) | |||||||
| $ | 456 | ZAR | 7,320 | Citibank N.A. | 07/29/22 | 8 | ||||||||
| Total | $ | 53 | ||||||||||||
| $ | 621 | RON | 2,931 | Goldman Sachs | 07/29/22 | $ | 2 | |||||||
| Total | $ | 2 | ||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 57 |
| Summary portfolio of investments (unaudited) | concluded |
| CREF Core Bond Account ■ June 30, 2022 |
| Currency to be purchased | Receive | Currency to be sold | Deliver | Counterparty | Settlement date | Unrealized appreciation (depreciation | ) | |||||||
| $ | 6,566 | AUD | 9,187 | Morgan Stanley | 07/29/22 | $ | 224 | |||||||
| $ | 467 | EUR | 449 | Morgan Stanley | 07/29/22 | (4 | ) | |||||||
| $ | 502 | EUR | 482 | Morgan Stanley | 07/29/22 | (4 | ) | |||||||
| $ | 610 | EUR | 571 | Morgan Stanley | 07/29/22 | 11 | ||||||||
| $ | 34 | EUR | 32 | Morgan Stanley | 07/29/22 | 0 | ^ | |||||||
| $ | 2 | EUR | 2 | Morgan Stanley | 07/29/22 | (0 | )^ | |||||||
| $ | 1,260 | NOK | 11,727 | Morgan Stanley | 07/29/22 | 69 | ||||||||
| $ | 379 | PEN | 1,452 | Morgan Stanley | 07/05/22 | 0 | ^ | |||||||
| $ | 384 | PEN | 1,457 | Morgan Stanley | 08/03/22 | 5 | ||||||||
| PEN | 1,452 | $ | 384 | Morgan Stanley | 07/05/22 | (5 | ) | |||||||
| SEK | 1,192 | $ | 117 | Morgan Stanley | 07/29/22 | (1 | ) | |||||||
| SEK | 4,995 | $ | 515 | Morgan Stanley | 07/29/22 | (26 | ) | |||||||
| Total | $ | 269 | ||||||||||||
| $ | 7,942 | CAD | 10,204 | Toronto Dominion Bank | 07/29/22 | 15 | ||||||||
| $ | 780 | EUR | 735 | Toronto Dominion Bank | 07/29/22 | 8 | ||||||||
| $ | 21,121 | GBP | 16,830 | Toronto Dominion Bank | 07/29/22 | 624 | ||||||||
| $ | 1,100 | ILS | 3,775 | Toronto Dominion Bank | 07/29/22 | 17 | ||||||||
| $ | 25,555 | JPY | 3,261,546 | Toronto Dominion Bank | 07/29/22 | 1,474 | ||||||||
| CNY | 27,421 | $ | 4,111 | Toronto Dominion Bank | 07/29/22 | (16 | ) | |||||||
| EUR | 372 | $ | 398 | Toronto Dominion Bank | 07/29/22 | (8 | ) | |||||||
| EUR | 116 | $ | 124 | Toronto Dominion Bank | 07/29/22 | (3 | ) | |||||||
| Total | $ | 2,111 | ||||||||||||
| Total | $ | 4,422 | ||||||||||||
^Amount represents less than $1,000.
Abbreviation(s):
| AUD | Australian Dollar |
| CAD | Canadian Dollar |
| CNY | Chinese Yuan |
| EUR | Euro |
| GBP | Pound Sterling |
| HUF | Hungarian Forint |
| ILS | Israeli Shekel |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Sol |
| PLN | Polish Zloty |
| RON | Romanian Leu |
| SEK | Swedish Krona |
| THB | Thailand Baht |
| ZAR | South African Rand |
| 58 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
Summary portfolio of investments (unaudited)
CREF Inflation-Linked Bond Account ■ June 30, 2022
| Value | % of net | ||||||||||||||||
| Principal | Issuer | (000) | assets | ||||||||||||||
| BANK LOAN OBLIGATIONS | |||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | $ | 2,365 | 0.0 | % | |||||||||||||
| CONSUMER DURABLES & APPAREL | 2,470 | 0.0 | |||||||||||||||
| CONSUMER SERVICES | 5,191 | 0.1 | |||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 3,224 | 0.1 | |||||||||||||||
| MEDIA & ENTERTAINMENT | 6,848 | 0.1 | |||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 5,680 | 0.1 | |||||||||||||||
| RETAILING | 2,917 | 0.0 | |||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 0 | ^ | 0.0 | ||||||||||||||
| SOFTWARE & SERVICES | 5,326 | 0.1 | |||||||||||||||
| UTILITIES | 2,364 | 0.0 | |||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS | (Cost $38,000) | 36,385 | 0.5 | ||||||||||||||
| BONDS | |||||||||||||||||
| CORPORATE BONDS | |||||||||||||||||
| BANKS | 4,967 | 0.1 | |||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 7,645 | 0.1 | |||||||||||||||
| DIVERSIFIED FINANCIALS | 9,088 | 0.1 | |||||||||||||||
| ENERGY | 23,158 | 0.3 | |||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 5,076 | 0.1 | |||||||||||||||
| MATERIALS | 9,343 | 0.1 | |||||||||||||||
| MEDIA & ENTERTAINMENT | 17,522 | 0.2 | |||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 2,974 | 0.0 | |||||||||||||||
| REAL ESTATE | 8,189 | 0.1 | |||||||||||||||
| RETAILING | 3,586 | 0.0 | |||||||||||||||
| SOFTWARE & SERVICES | 7,621 | 0.1 | |||||||||||||||
| TELECOMMUNICATION SERVICES | 11,892 | 0.2 | |||||||||||||||
| TRANSPORTATION | 6,265 | 0.1 | |||||||||||||||
| UTILITIES | 1,297 | 0.0 | |||||||||||||||
| TOTAL CORPORATE BONDS | (Cost $138,154) | 118,623 | 1.5 | ||||||||||||||
| GOVERNMENT BONDS | |||||||||||||||||
| AGENCY SECURITIES | |||||||||||||||||
| $ | 14,435,000 | Montefiore Medical Center | 2.895%, 04/20/32 | 14,006 | 0.2 | ||||||||||||
| Other | 2,589 | 0.1 | |||||||||||||||
| 16,595 | 0.3 | ||||||||||||||||
| MORTGAGE BACKED | |||||||||||||||||
| 10,000,000 | g,i | Freddie Mac STACR REMIC Trust | 1.876%, 12/25/41 | 9,672 | 0.1 | ||||||||||||
| 20,000,000 | g,i | Freddie Mac STACR REMIC Trust | 4.276%, 05/25/42 | 19,014 | 0.3 | ||||||||||||
| 19,199,207 | Government National Mortgage Association (GNMA) | 3.600%, 09/15/31 | 19,138 | 0.3 | |||||||||||||
| 36,972,539 | GNMA | 1.730%, 07/15/37 | 33,734 | 0.4 | |||||||||||||
| 34,188,110 | GNMA | 4.250%, 09/15/38 | 34,580 | 0.5 | |||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 59 |
| Summary portfolio of investments (unaudited) | continued |
CREF Inflation-Linked Bond Account ■ June 30, 2022
| Value | % of net | |||||||||||||||
| Principal | Issuer | (000) | assets | |||||||||||||
| MORTGAGE BACKED—continued | ||||||||||||||||
| $ | 23,771,193 | GNMA | 1.650%, 07/15/42 | $ | 21,312 | 0.3 | % | |||||||||
| 25,831,260 | GNMA | 2.750%, 01/15/45 | 25,040 | 0.3 | ||||||||||||
| Other | 25,942 | 0.3 | ||||||||||||||
| 188,432 | 2.5 | |||||||||||||||
| U.S. TREASURY SECURITIES | ||||||||||||||||
| 148,446,976 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 07/15/22 | 148,943 | 2.0 | |||||||||||
| 311,820,210 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 01/15/23 | 317,082 | 4.2 | |||||||||||
| 205,976,670 | k | United States Treasury Inflation Indexed Bonds | 0.625%, 04/15/23 | 209,493 | 2.8 | |||||||||||
| 278,849,205 | k | United States Treasury Inflation Indexed Bonds | 0.375%, 07/15/23 | 283,751 | 3.8 | |||||||||||
| 198,520,905 | k | United States Treasury Inflation Indexed Bonds | 0.625%, 01/15/24 | 201,917 | 2.7 | |||||||||||
| 233,804,400 | k | United States Treasury Inflation Indexed Bonds | 0.500%, 04/15/24 | 237,037 | 3.2 | |||||||||||
| 197,819,375 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 07/15/24 | 199,713 | 2.7 | |||||||||||
| 233,777,800 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 10/15/24 | 235,208 | 3.1 | |||||||||||
| 223,333,200 | k | United States Treasury Inflation Indexed Bonds | 0.250%, 01/15/25 | 224,685 | 3.0 | |||||||||||
| 118,094,828 | k | United States Treasury Inflation Indexed Bonds | 2.375%, 01/15/25 | 125,137 | 1.7 | |||||||||||
| 181,287,720 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 04/15/25 | 181,376 | 2.4 | |||||||||||
| 241,342,200 | k | United States Treasury Inflation Indexed Bonds | 0.375%, 07/15/25 | 243,759 | 3.3 | |||||||||||
| 314,153,640 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 10/15/25 | 313,908 | 4.2 | |||||||||||
| 258,540,004 | k | United States Treasury Inflation Indexed Bonds | 0.625%, 01/15/26 | 261,435 | 3.5 | |||||||||||
| 77,660,397 | k | United States Treasury Inflation Indexed Bonds | 2.000%, 01/15/26 | 82,247 | 1.1 | |||||||||||
| 159,820,450 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 04/15/26 | 158,324 | 2.1 | |||||||||||
| 178,473,200 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 07/15/26 | 177,028 | 2.4 | |||||||||||
| 299,639,492 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 10/15/26 | 296,908 | 4.0 | |||||||||||
| 237,529,070 | k | United States Treasury Inflation Indexed Bonds | 0.375%, 01/15/27 | 236,645 | 3.2 | |||||||||||
| 118,910,716 | k | United States Treasury Inflation Indexed Bonds | 2.375%, 01/15/27 | 129,134 | 1.7 | |||||||||||
| 127,970,000 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 04/15/27 | 125,995 | 1.7 | |||||||||||
| 136,481,730 | k | United States Treasury Inflation Indexed Bonds | 0.375%, 07/15/27 | 135,986 | 1.8 | |||||||||||
| 240,815,175 | k | United States Treasury Inflation Indexed Bonds | 0.500%, 01/15/28 | 239,169 | 3.2 | |||||||||||
| 237,870,624 | k | United States Treasury Inflation Indexed Bonds | 1.750%, 01/15/28 | 252,490 | 3.4 | |||||||||||
| 126,933,039 | k | United States Treasury Inflation Indexed Bonds | 3.625%, 04/15/28 | 148,254 | 2.0 | |||||||||||
| 147,397,120 | k | United States Treasury Inflation Indexed Bonds | 0.750%, 07/15/28 | 148,451 | 2.0 | |||||||||||
| 216,359,640 | k | United States Treasury Inflation Indexed Bonds | 0.875%, 01/15/29 | 218,377 | 2.9 | |||||||||||
| 158,731,128 | k | United States Treasury Inflation Indexed Bonds | 2.500%, 01/15/29 | 176,446 | 2.4 | |||||||||||
| 8,949,849 | k | United States Treasury Inflation Indexed Bonds | 3.875%, 04/15/29 | 10,805 | 0.1 | |||||||||||
| 211,315,610 | k | United States Treasury Inflation Indexed Bonds | 0.250%, 07/15/29 | 204,898 | 2.7 | |||||||||||
| 174,140,950 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 01/15/30 | 166,216 | 2.2 | |||||||||||
| 138,106,500 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 07/15/30 | 131,705 | 1.8 | |||||||||||
| 168,780,800 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 01/15/31 | 160,535 | 2.1 | |||||||||||
| 253,939,979 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 07/15/31 | 241,445 | 3.2 | |||||||||||
| 84,237,073 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 01/15/32 | 79,958 | 1.1 | |||||||||||
| 67,744,768 | k | United States Treasury Inflation Indexed Bonds | 3.375%, 04/15/32 | 84,624 | 1.1 | |||||||||||
| 42,633,600 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 02/15/51 | 32,818 | 0.4 | |||||||||||
| 75,917,714 | k | United States Treasury Inflation Indexed Bonds | 0.125%, 02/15/52 | 58,903 | 0.8 | |||||||||||
| 25,000,000 | United States Treasury Note | 2.875%, 05/15/32 | 24,719 | 0.3 | ||||||||||||
| 6,905,524 | 92.3 | |||||||||||||||
| TOTAL GOVERNMENT BONDS | (Cost $7,237,520) | 7,110,551 | 95.1 | |||||||||||||
| STRUCTURED ASSETS | ||||||||||||||||
| ASSET BACKED | 35,089 | 0.4 | ||||||||||||||
| 60 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
CREF Inflation-Linked Bond Account ■ June 30, 2022
| Value | % of net | ||||||||||||||||
| Principal | Issuer | (000) | assets | ||||||||||||||
| OTHER MORTGAGE BACKED | |||||||||||||||||
| $ | 26,370,303 | g,i | BX Commercial Mortgage Trust Series - 2021 XL2 (Class C), LIBOR 1 M + 1.197% | 2.521%, 10/15/38 | $ | 24,847 | 0.3 | % | |||||||||
| 15,000,000 | g,i | Freddie Mac STACR REMIC Trust Series - 2022 DNA1 (Class M2) | 3.426%, 01/25/42 | 12,700 | 0.2 | ||||||||||||
| Other | 125,302 | 1.7 | |||||||||||||||
| 162,849 | 2.2 | ||||||||||||||||
| TOTAL STRUCTURED ASSETS | (Cost $212,800) | 197,938 | 2.6 | ||||||||||||||
| TOTAL BONDS | (Cost $7,588,474) | 7,427,112 | 99.2 | ||||||||||||||
| SHORT-TERM INVESTMENTS | |||||||||||||||||
| REPURCHASE AGREEMENT | |||||||||||||||||
| 30,650,000 | r | Fixed Income Clearing Corp (FICC) | 1.450%, 07/01/22 | 30,650 | 0.4 | ||||||||||||
| 30,650 | 0.4 | ||||||||||||||||
| Shares | Company | ||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | |||||||||||||||||
| 5,090,795 | c | State Street Navigator Securities Lending Government Money Market Portfolio | 1.540% | 5,091 | 0.0 | ||||||||||||
| 5,091 | 0.0 | ||||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $35,741) | 35,741 | 0.4 | ||||||||||||||
| TOTAL PORTFOLIO | (Cost $7,662,215) | 7,499,238 | 100.1 | ||||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (10,743 | ) | (0.1 | ) | |||||||||||||
| NET ASSETS | $ | 7,488,495 | 100.0 | % | |||||||||||||
| LIBOR | London Interbank Offered Rate |
| M | Month |
| REMIC | Real Estate Mortgage Investment Conduit |
| ^ | Amount represents less than $1,000. |
| c | Investments made with cash collateral received from securities on loan. |
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/22, the aggregate value of these securities, including those in “Other,” is $307,576,955 or 4.1% 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. |
| k | Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index. |
| r | Agreement with Fixed Income Clearing Corporation, 1.450% dated 6/30/22 to be repurchased at $30,650,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rate 0.375% and maturity date 1/31/26, valued at $31,263,022. |
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 61 |
| Summary portfolio of investments (unaudited) | concluded |
CREF Inflation-Linked Bond Account ■ June 30, 2022
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
All or a portion of these securities are out on loan. The aggregate value of securities on loan is $4,917,438. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.
Cost amounts are in thousands.
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Number of | Unrealized | |||||||||||||||||
| long (short | ) | Expiration | Notional | appreciation | ||||||||||||||
| Description | contracts | date | amount | Value | (depreciation | ) | ||||||||||||
| US 10 Year Note | (115 | ) | 09/21/22 | $ | (13,828 | ) | $ | (13,631 | ) | $ | 197 | |||||||
| US Long Bond | (19 | ) | 09/21/22 | (2,673 | ) | (2,634 | ) | 39 | ||||||||||
| Ultra U.S. Treasury Bond | (580 | ) | 09/21/22 | (91,958 | ) | (89,519 | ) | 2,439 | ||||||||||
| Total | (714 | ) | $ | (108,459 | ) | $ | (105,784 | ) | $ | 2,675 | ||||||||
| 62 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
Summary portfolio of investments (unaudited)
CREF Social Choice Account ■ June 30, 2022
| Principal | Issuer | Value (000) | % of net assets | ||||||||||||||
| BANK LOAN OBLIGATIONS | |||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | $ | 14,467 | 0.1 | % | |||||||||||||
| UTILITIES | 16,495 | 0.1 | |||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS | (Cost $32,372) | 30,962 | 0.2 | ||||||||||||||
| BONDS | |||||||||||||||||
| CORPORATE BONDS | |||||||||||||||||
| AUTOMOBILES & COMPONENTS | 30,165 | 0.2 | |||||||||||||||
| BANKS | 378,275 | 2.2 | |||||||||||||||
| CAPITAL GOODS | 63,187 | 0.4 | |||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 24,682 | 0.1 | |||||||||||||||
| CONSUMER DURABLES & APPAREL | 4,932 | 0.0 | |||||||||||||||
| CONSUMER SERVICES | 121,212 | 0.7 | |||||||||||||||
| DIVERSIFIED FINANCIALS | 331,929 | 1.9 | |||||||||||||||
| ENERGY | 119,879 | 0.7 | |||||||||||||||
| FOOD & STAPLES RETAILING | 29,364 | 0.2 | |||||||||||||||
| FOOD, BEVERAGE & TOBACCO | 28,296 | 0.2 | |||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | 16,333 | 0.1 | |||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | 42,675 | 0.3 | |||||||||||||||
| INSURANCE | 96,964 | 0.6 | |||||||||||||||
| MATERIALS | 117,673 | 0.7 | |||||||||||||||
| MEDIA & ENTERTAINMENT | 32,312 | 0.2 | |||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 120,776 | 0.7 | |||||||||||||||
| REAL ESTATE | 125,908 | 0.7 | |||||||||||||||
| RETAILING | 23,456 | 0.1 | |||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 14,234 | 0.1 | |||||||||||||||
| SOFTWARE & SERVICES | 49,391 | 0.3 | |||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | 13,932 | 0.1 | |||||||||||||||
| TELECOMMUNICATION SERVICES | 48,666 | 0.3 | |||||||||||||||
| TRANSPORTATION | 19,628 | 0.1 | |||||||||||||||
| UTILITIES | 797,089 | 4.7 | |||||||||||||||
| TOTAL CORPORATE BONDS | (Cost $3,044,346) | 2,650,958 | 15.6 | ||||||||||||||
| GOVERNMENT BONDS | |||||||||||||||||
| AGENCY SECURITIES | 294,905 | 1.7 | |||||||||||||||
| FOREIGN GOVERNMENT BONDS | 585,745 | 3.4 | |||||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 63 |
| Summary portfolio of investments (unaudited) | continued |
CREF Social Choice Account ■ June 30, 2022
| Principal | Issuer | Value (000) | % of net assets | |||||||||||||||
| MORTGAGE BACKED | ||||||||||||||||||
| $ | 54,740,000 | h | Federal National Mortgage Association (FNMA) | 4.000%, 07/25/49 | $ | 53,978 | 0.3 | % | ||||||||||
| 741,665,778 | h | FNMA | 1.292%–8.000%, 07/01/24–08/25/52 | 670,285 | 4.1 | |||||||||||||
| 55,967,606 | Government National Mortgage Association (GNMA) | 3.000%, 05/20/52 | 52,831 | 0.3 | ||||||||||||||
| Other | 410,186 | 2.3 | ||||||||||||||||
| 1,187,280 | 7.0 | |||||||||||||||||
| MUNICIPAL BONDS | 531,691 | 3.1 | ||||||||||||||||
| U.S. TREASURY SECURITIES | ||||||||||||||||||
| 162,557,000 | United States Treasury Note | 2.625%, 05/31/27 | 159,484 | 0.9 | ||||||||||||||
| 238,417,000 | United States Treasury Note | 2.875%, 05/15/32 | 235,735 | 1.4 | ||||||||||||||
| 232,705,800 | United States Treasury Note | 2.250%, 02/15/42 | 197,327 | 1.2 | ||||||||||||||
| 75,298,000 | United States Treasury Note | 2.250%, 02/15/52 | 61,968 | 0.4 | ||||||||||||||
| 321,867,000 | United States Treasury Note | 0.125%–3.250%, 09/30/22–05/15/42 | 305,277 | 1.8 | ||||||||||||||
| Other | 35,050 | 0.2 | ||||||||||||||||
| 994,840 | 5.9 | |||||||||||||||||
| TOTAL GOVERNMENT BONDS | (Cost $3,787,397) | 3,594,462 | 21.1 | |||||||||||||||
| STRUCTURED ASSETS | ||||||||||||||||||
| ASSET BACKED | 259,123 | 1.5 | ||||||||||||||||
| OTHER MORTGAGE BACKED | 568,462 | 3.3 | ||||||||||||||||
TOTAL STRUCTURED ASSETS | (Cost $916,054) | 827,585 | 4.8 | |||||||||||||||
| TOTAL BONDS | (Cost $7,747,797) | 7,073,005 | 41.5 | |||||||||||||||
| Shares | Company | |||||||||||||||||
| COMMON STOCKS | ||||||||||||||||||
| AUTOMOBILES & COMPONENTS | ||||||||||||||||||
| 200,200 | * | Tesla, Inc | 134,819 | 0.8 | ||||||||||||||
| Other | 108,262 | 0.6 | ||||||||||||||||
| 243,081 | 1.4 | |||||||||||||||||
| BANKS | 495,853 | 2.9 | ||||||||||||||||
| CAPITAL GOODS | ||||||||||||||||||
| 263,610 | Caterpillar, Inc | 47,123 | 0.3 | |||||||||||||||
| Other | 533,295 | 3.1 | ||||||||||||||||
| 580,418 | 3.4 | |||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES | 144,666 | 0.9 | ||||||||||||||||
| CONSUMER DURABLES & APPAREL | ||||||||||||||||||
| 525,950 | Nike, Inc (Class B) | 53,752 | 0.3 | |||||||||||||||
| Other | 131,797 | 0.8 | ||||||||||||||||
| 185,549 | 1.1 | |||||||||||||||||
| CONSUMER SERVICES | 193,718 | 1.1 | ||||||||||||||||
| 64 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | continued |
CREF Social Choice Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | ||||||||||||
| DIVERSIFIED FINANCIALS | |||||||||||||||
| 163,276 | Goldman Sachs Group, Inc | $ | 48,496 | 0.3 | % | ||||||||||
| 159,824 | S&P Global, Inc | 53,870 | 0.3 | ||||||||||||
| Other | 512,182 | 3.0 | |||||||||||||
| 614,548 | 3.6 | ||||||||||||||
| ENERGY | |||||||||||||||
| 572,201 | ConocoPhillips | 51,389 | 0.3 | ||||||||||||
| Other | 432,267 | 2.6 | |||||||||||||
| 483,656 | 2.9 | ||||||||||||||
| FOOD & STAPLES RETAILING | 113,322 | 0.7 | |||||||||||||
| FOOD, BEVERAGE & TOBACCO | |||||||||||||||
| 1,254,533 | Coca-Cola Co | 78,923 | 0.5 | ||||||||||||
| 604,554 | Nestle S.A. | 70,656 | 0.4 | ||||||||||||
| 459,362 | PepsiCo, Inc | 76,557 | 0.5 | ||||||||||||
| Other | 152,826 | 0.8 | |||||||||||||
| 378,962 | 2.2 | ||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES | |||||||||||||||
| 115,182 | Anthem, Inc | 55,585 | 0.3 | ||||||||||||
| 185,105 | Cigna Corp | 48,779 | 0.3 | ||||||||||||
| Other | 346,286 | 2.1 | |||||||||||||
| 450,650 | 2.7 | ||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS | |||||||||||||||
| 674,396 | Procter & Gamble Co | 96,971 | 0.6 | ||||||||||||
| Other | 111,471 | 0.6 | |||||||||||||
| 208,442 | 1.2 | ||||||||||||||
| INSURANCE | |||||||||||||||
| 250,168 | Chubb Ltd | 49,178 | 0.3 | ||||||||||||
| 308,022 | Marsh & McLennan Cos, Inc | 47,820 | 0.3 | ||||||||||||
| Other | 294,659 | 1.7 | |||||||||||||
| 391,657 | 2.3 | ||||||||||||||
| MATERIALS | 415,300 | 2.4 | |||||||||||||
| MEDIA & ENTERTAINMENT | |||||||||||||||
| 1,203,172 | Comcast Corp (Class A) | 47,213 | 0.3 | ||||||||||||
| 576,928 | * | Walt Disney Co | 54,462 | 0.3 | |||||||||||
| Other | 233,674 | 1.4 | |||||||||||||
| 335,349 | 2.0 | ||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | |||||||||||||||
| 204,942 | Amgen, Inc | 49,862 | 0.3 | ||||||||||||
| 820,482 | Bristol-Myers Squibb Co | 63,177 | 0.4 | ||||||||||||
| 247,423 | Danaher Corp | 62,727 | 0.4 | ||||||||||||
| 259,748 | Eli Lilly & Co | 84,218 | 0.5 | ||||||||||||
| 158,951 | Roche Holding AG. | 53,137 | 0.3 | ||||||||||||
| 132,804 | Thermo Fisher Scientific, Inc | 72,150 | 0.4 | ||||||||||||
| Other | 505,035 | 2.9 | |||||||||||||
| 890,306 | 5.2 | ||||||||||||||
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 65 |
| Summary portfolio of investments (unaudited) | continued |
CREF Social Choice Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets |
||||||||||||
| REAL ESTATE | |||||||||||||||
| 217,135 | American Tower Corp | $ | 55,498 | 0.3 | % | ||||||||||
| Other | 236,800 | 1.4 | |||||||||||||
| 292,298 | 1.7 | ||||||||||||||
| RETAILING | |||||||||||||||
| 308,312 | Home Depot, Inc | 84,561 | 0.5 | ||||||||||||
| 274,113 | Lowe’s Companies, Inc | 47,879 | 0.3 | ||||||||||||
| Other | 192,752 | 1.1 | |||||||||||||
| 325,192 | 1.9 | ||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | |||||||||||||||
| 1,607,963 | Intel Corp | 60,154 | 0.4 | ||||||||||||
| 639,917 | NVIDIA Corp | 97,005 | 0.6 | ||||||||||||
| 378,762 | Texas Instruments, Inc | 58,197 | 0.3 | ||||||||||||
| Other | 198,544 | 1.2 | |||||||||||||
| 413,900 | 2.5 | ||||||||||||||
| SOFTWARE & SERVICES | |||||||||||||||
| 232,235 | Accenture plc | 64,480 | 0.4 | ||||||||||||
| 161,364 | * | Adobe, Inc | 59,069 | 0.4 | |||||||||||
| 231,430 | Automatic Data Processing, Inc | 48,610 | 0.3 | ||||||||||||
| 399,473 | International Business Machines Corp | 56,402 | 0.3 | ||||||||||||
| 260,546 | Mastercard, Inc (Class A) | 82,197 | 0.5 | ||||||||||||
| 1,480,067 | Microsoft Corp | 380,126 | 2.2 | ||||||||||||
| 339,609 | * | salesforce.com, Inc | 56,049 | 0.3 | |||||||||||
| 102,383 | * | ServiceNow, Inc | 48,685 | 0.3 | |||||||||||
| Other | 501,792 | 2.9 | |||||||||||||
| 1,297,410 | 7.6 | ||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT | |||||||||||||||
| 1,430,548 | Cisco Systems, Inc | 60,999 | 0.4 | ||||||||||||
| Other | 280,392 | 1.6 | |||||||||||||
| 341,391 | 2.0 | ||||||||||||||
| TELECOMMUNICATION SERVICES | |||||||||||||||
| 356,628 | * | T-Mobile US, Inc | 47,981 | 0.3 | |||||||||||
| 1,407,174 | Verizon Communications, Inc | 71,414 | 0.4 | ||||||||||||
| Other | 104,389 | 0.6 | |||||||||||||
| 223,784 | 1.3 | ||||||||||||||
| TRANSPORTATION | |||||||||||||||
| 319,502 | United Parcel Service, Inc (Class B) | 58,322 | 0.3 | ||||||||||||
| Other | 225,574 | 1.4 | |||||||||||||
| 283,896 | 1.7 | ||||||||||||||
| UTILITIES | |||||||||||||||
| 782,837 | NextEra Energy, Inc | 60,639 | 0.4 | ||||||||||||
| Other | 280,012 | 1.6 | |||||||||||||
| 340,651 | 2.0 | ||||||||||||||
| TOTAL COMMON STOCKS | (Cost $8,712,721) | 9,643,999 | 56.7 | ||||||||||||
| 66 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
CREF Social Choice Account ■ June 30, 2022
| Shares | Company | Value (000) | % of net assets | |||||||||||||||
| PREFERRED STOCKS | ||||||||||||||||||
| BANKS | $ | 12,053 | 0.1 | % | ||||||||||||||
| INSURANCE | 4,005 | 0.0 | ||||||||||||||||
| REAL ESTATE | 19,558 | 0.1 | ||||||||||||||||
| UTILITIES | 15,568 | 0.1 | ||||||||||||||||
| TOTAL PREFERRED STOCKS | (Cost $88,178) | 51,184 | 0.3 | |||||||||||||||
| Principal | Issuer | |||||||||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||||||
| GOVERNMENT AGENCY DEBT | ||||||||||||||||||
| $50,000,000 | Federal Home Loan Bank (FHLB) | 0.000%, 07/15/22 | 49,973 | 0.3 | ||||||||||||||
| Other | 225,710 | 1.3 | ||||||||||||||||
| 275,683 | 1.6 | |||||||||||||||||
| REPURCHASE AGREEMENT | ||||||||||||||||||
| 99,760,000 | r | Fixed Income Clearing Corp (FICC) | 1.450%, 07/01/22 | 99,760 | 0.6 | |||||||||||||
| 99,760 | 0.6 | |||||||||||||||||
| TREASURY DEBT | 19,957 | 0.1 | ||||||||||||||||
| Shares | Company | |||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | ||||||||||||||||||
| 107,576,260 | c | State Street Navigator Securities Lending Government Money Market Portfolio |
1.540% | 107,576 | 0.7 | |||||||||||||
| 107,576 | 0.7 | |||||||||||||||||
| TOTAL INVESTMENT IN REGISTERED INVESTMENT COMPANIES | 107,576 | 0.7 | ||||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | (Cost $503,221) | 502,976 | 3.0 | |||||||||||||||
| TOTAL PORTFOLIO | (Cost $17,084,289) | 17,302,126 | 101.7 | % | ||||||||||||||
| OTHER ASSETS & LIABILITIES, NET | (278,778 | ) | (1.7 | )% | ||||||||||||||
| NET ASSETS | $ | 17,023,348 | 100.0 | % | ||||||||||||||
| * | Non-income producing |
| c | Investments made with cash collateral received from securities on loan. |
| h | All or a portion of these securities were purchased on a delayed delivery basis. |
| r | Agreement with Fixed Income Clearing Corporation, 1.450% dated 6/30/22 to be repurchased at $99,760,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rates 0.125%–0.250% and maturity dates 9/30/25–10/15/25, valued at $101,755,209. |
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
At 6/30/22, the aggregate value of securities on loan is $135,982,335. See Note 4 in the Notes to financial statements for additional information about securities lending collateral.
At 6/30/22, the aggregate value of securities exempt from registration under Rule 144(A) of the Securities Act of 1933 amounted to $1,912,744,322 or 11.2% of net assets. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers.
Cost amounts are in thousands.
For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 67 |
Summary portfolio of investments (unaudited)
CREF Money Market Account ■ June 30, 2022
| Principal | Issuer | Value (000) | % of net assets | |||||||||||
| SHORT-TERM INVESTMENTS | ||||||||||||||
| GOVERNMENT AGENCY DEBT | ||||||||||||||
| $ | 105,000,000 | Federal Farm Credit Bank (FFCB) | 0.010%, 07/21/22 | $ | 104,927 | 1.3 | % | |||||||
| 183,775,000 | FFCB | 0.010%, 07/22/22 | 183,673 | 2.2 | ||||||||||
| 85,200,000 | FFCB | 0.010%, 11/08/22 | 84,739 | 1.0 | ||||||||||
| 135,785,000 | FFCB | 0.010%–2.875%, 07/15/22–12/21/22 | 135,352 | 1.7 | ||||||||||
| 131,700,000 | Federal Home Loan Bank (FHLB) | 0.010%, 07/01/22 | 131,700 | 1.6 | ||||||||||
| 227,243,000 | FHLB | 0.010%, 07/06/22 | 227,217 | 2.7 | ||||||||||
| 92,000,000 | FHLB | 0.010%, 07/08/22 | 91,985 | 1.1 | ||||||||||
| 54,200,000 | FHLB | 0.010%, 07/13/22 | 54,186 | 0.6 | ||||||||||
| 86,000,000 | FHLB | 0.010%, 07/19/22 | 85,949 | 1.0 | ||||||||||
| 135,950,000 | FHLB | 0.010%, 07/22/22 | 135,882 | 1.6 | ||||||||||
| 106,800,000 | FHLB | 0.010%, 07/25/22 | 106,735 | 1.3 | ||||||||||
| 122,113,000 | FHLB | 0.010%, 07/28/22 | 122,034 | 1.5 | ||||||||||
| 164,075,000 | FHLB | 0.010%, 07/29/22 | 163,947 | 2.0 | ||||||||||
| 124,292,000 | FHLB | 0.010%, 08/15/22 | 124,103 | 1.5 | ||||||||||
| 173,800,000 | FHLB | 0.010%, 08/17/22 | 173,521 | 2.1 | ||||||||||
| 85,600,000 | FHLB | 0.010%, 08/19/22 | 85,413 | 1.0 | ||||||||||
| 64,000,000 | FHLB | 0.010%, 08/24/22 | 63,881 | 0.8 | ||||||||||
| 172,925,000 | FHLB | 0.010%, 09/07/22 | 172,497 | 2.1 | ||||||||||
| 91,272,000 | FHLB | 0.010%, 09/14/22 | 91,018 | 1.1 | ||||||||||
| 84,000,000 | FHLB | 0.010%, 09/22/22 | 83,733 | 1.0 | ||||||||||
| 95,500,000 | FHLB | 0.010%, 09/28/22 | 95,058 | 1.1 | ||||||||||
| 141,559,000 | FHLB | 0.010%, 10/19/22 | 141,010 | 1.7 | ||||||||||
| 165,550,000 | FHLB | 0.010%, 10/21/22 | 164,843 | 2.0 | ||||||||||
| 84,000,000 | FHLB | 0.010%, 11/08/22 | 83,566 | 1.0 | ||||||||||
| 85,000,000 | FHLB | 1.470%, 11/10/22 | 84,992 | 1.0 | ||||||||||
| 84,500,000 | FHLB | 0.010%, 12/20/22 | 83,858 | 1.0 | ||||||||||
| 899,462,000 | FHLB | 0.010%–2.750%, 07/07/22–12/23/22 | 896,567 | 10.4 | ||||||||||
| 53,302,000 | Federal National Mortgage Association (FNMA) | 2.000%, 10/05/22 | 53,388 | 0.6 | ||||||||||
| Other | 96,024 | 1.2 | ||||||||||||
| 4,121,798 | 49.2 | |||||||||||||
|
REPURCHASE AGREEMENT | ||||||||||||||
| 394,177,000 | r | Fixed Income Clearing Corp (FICC) | 1.450%, 07/01/22 | 394,177 | 4.7 | |||||||||
| 394,177 | 4.7 | |||||||||||||
| TREASURY DEBT | ||||||||||||||
| 132,000,000 | United States Cash Management Bill | 0.010%, 10/04/22 | 131,513 | 1.6 | ||||||||||
| 63,250,000 | United States Cash Management Bill | 0.010%, 10/11/22 | 62,979 | 0.8 | ||||||||||
| 100,079,000 | United States Cash Management Bill | 0.010%, 08/23/22–09/27/22 | 99,842 | 1.2 | ||||||||||
| 59,000,000 | United States Treasury Bill | 0.010%, 07/19/22 | 58,974 | 0.7 | ||||||||||
| 63,250,000 | United States Treasury Bill | 0.010%, 09/15/22 | 63,031 | 0.8 | ||||||||||
| 83,875,000 | United States Treasury Bill | 0.010%, 11/17/22 | 83,389 | 1.0 | ||||||||||
| 92,450,000 | United States Treasury Bill | 0.010%, 12/01/22 | 91,829 | 1.1 | ||||||||||
| 105,500,000 | United States Treasury Bill | 0.010%, 12/08/22 | 104,693 | 1.2 | ||||||||||
| 300,463,000 | United States Treasury Bill | 0.010%, 07/07/22–12/22/22 | 299,538 | 3.5 | ||||||||||
| Other | 33,626 | 0.4 | ||||||||||||
| 1,029,414 | 12.3 | |||||||||||||
| 68 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements |
| Summary portfolio of investments (unaudited) | concluded |
CREF Money Market Account ■ June 30, 2022
| Principal | Issuer | Value (000) | % of net assets | |||||||||||
| VARIABLE RATE SECURITIES | ||||||||||||||
| $ | 63,750,000 | i | Federal Agricultural Mortgage Corp (FAMC), SOFR + 0.050% | 1.560%, 03/03/23 | $ | 63,750 | 0.8 | % | ||||||
| 89,925,000 | i | FAMC, SOFR + 0.015%–SOFR + 0.100% | 1.525%–1.610%, 08/18/22–02/12/24 | 89,931 | 1.1 | |||||||||
| 127,700,000 | i | Federal Farm Credit Bank (FFCB), SOFR + 0.005% | 1.515%, 07/12/22 | 127,700 | 1.5 | |||||||||
| 128,215,000 | i | FFCB, SOFR + 0.045% | 1.555%, 09/08/22 | 128,217 | 1.5 | |||||||||
| 63,750,000 | i | FFCB, SOFR + 0.005% | 1.515%, 10/05/22 | 63,750 | 0.8 | |||||||||
| 69,491,000 | i | FFCB, SOFR + 0.010% | 1.520%, 11/16/22 | 69,491 | 0.8 | |||||||||
| 88,250,000 | i | FFCB, SOFR + 0.018% | 1.528%, 07/13/23 | 88,239 | 1.1 | |||||||||
| 63,100,000 | i | FFCB, SOFR + 0.040% | 1.550%, 08/17/23 | 63,100 | 0.8 | |||||||||
| 792,868,000 | i | FFCB, SOFR + 0.190%–SOFR + 0.050% | 1.518%–1.830%, 07/14/22–04/12/24 | 792,905 | 9.5 | |||||||||
| 96,100,000 | i | Federal Home Loan Bank (FHLB), SOFR + 0.010% | 1.520%, 07/26/22 | 96,100 | 1.1 | |||||||||
| 63,500,000 | i | FHLB, SOFR + 0.045% | 1.555%, 07/29/22 | 63,500 | 0.8 | |||||||||
| 62,750,000 | i | FHLB, SOFR + 0.010% | 1.520%, 08/02/22 | 62,750 | 0.7 | |||||||||
| 52,250,000 | i | FHLB, SOFR + 0.010% | 1.520%, 08/17/22 | 52,250 | 0.6 | |||||||||
| 63,750,000 | i | FHLB, SOFR + 0.010% | 1.520%, 09/09/22 | 63,750 | 0.8 | |||||||||
| 63,000,000 | i | FHLB, SOFR + 0.010% | 1.520%, 09/16/22 | 63,000 | 0.8 | |||||||||
| 85,250,000 | i | FHLB, SOFR + 0.085% | 1.595%, 10/05/22 | 85,254 | 1.0 | |||||||||
| 123,400,000 | i | FHLB, SOFR + 0.060% | 1.570%, 12/08/22 | 123,411 | 1.5 | |||||||||
| 474,035,000 | i | FHLB, SOFR + 0.005%–SOFR + 0.030% | 1.515%–1.600%, 07/18/22–08/11/23 | 474,040 | 5.6 | |||||||||
| 82,650,000 | i | Federal Home Loan Mortgage Corp (FHLMC), SOFR + 0.095% | 1.605%, 08/19/22 | 82,652 | 1.0 | |||||||||
| 95,900,000 | i | FNMA, SOFR + 0.190%–SOFR + 0.120% | 1.630%–1.792%, 07/06/22–07/29/22 | 95,903 | 1.1 | |||||||||
| Other | 77,891 | 0.9 | ||||||||||||
| 2,827,584 | 33.8 | |||||||||||||
| TOTAL SHORT–TERM INVESTMENTS | (Cost $8,372,973) | 8,372,973 | 100.0 | |||||||||||
| TOTAL PORTFOLIO | (Cost $8,372,973) | 8,372,973 | 100.0 | |||||||||||
| OTHER ASSETS & LIABILITIES, NET | 3,283 | 0.0 | ||||||||||||
| NET ASSETS | $ | 8,376,256 | 100.0 | % | ||||||||||
| SOFR | Secure Overnight Financing Rate |
| 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. |
| r | Agreement with Fixed Income Clearing Corporation, 1.450% dated 6/30/22 to be repurchased at $394,177,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rates 0.050%–5.375% and maturity dates 4/30/26–2/15/31, valued at $402,060,561. |
“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.
Cost amounts are in thousands.
For ease of presentation, a number of classification categories have been grouped together in the Summary portfolio of investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.
| See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 69 |
Statements of assets and liabilities (unaudited)
College Retirement Equities Fund ■ June 30, 2022
| (amounts in thousands, except accumulation unit value) | Stock Account | Global Equities Account | Growth Account | Equity Index Account | Core Bond Account | Inflation-Linked Bond Account | Social Choice Account | Money Market Account | ||||||||||||||||||||||||||
| ASSETS | ||||||||||||||||||||||||||||||||||
| Portfolio investments, at value*† | $ | 107,145,302 | $ | 21,796,385 | $ | 26,362,150 | $ | 19,624,018 | $ | 11,885,908 | $ | 7,499,238 | $ | 17,302,126 | $ | 8,372,973 | ||||||||||||||||||
| Affiliated investments, at value‡ | 56,946 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Total portfolio investments, at value | 107,202,248 | 21,796,385 | 26,362,150 | 19,624,018 | 11,885,908 | 7,499,238 | 17,302,126 | 8,372,973 | ||||||||||||||||||||||||||
| Cash**# | 64,421 | 5,682 | 1 | 5,093 | 102,046 | — | 31,803 | 1 | ||||||||||||||||||||||||||
| Cash – foreign^ | 46,056 | 7,057 | — | — | 980 | — | 2,609 | — | ||||||||||||||||||||||||||
| Dividends and interest receivable | 181,494 | 33,840 | 6,958 | 16,214 | 69,455 | 18,282 | 64,682 | 4,788 | ||||||||||||||||||||||||||
| Receivable from securities transactions | 282,736 | 47,251 | 266,036 | 30,121 | 142,934 | 333 | 69,872 | — | ||||||||||||||||||||||||||
| Due from affiliates | — | — | — | — | — | — | 6,859 | — | ||||||||||||||||||||||||||
| Receivable for variation margin on open futures contracts | — | — | — | — | 511 | 2,676 | — | — | ||||||||||||||||||||||||||
| Unrealized appreciation on forward foreign currency contracts | — | — | — | — | 4,565 | — | — | — | ||||||||||||||||||||||||||
| Other | 20,303 | 2,678 | 3,050 | 2,128 | 3,374 | 1,575 | 2,267 | 1,864 | ||||||||||||||||||||||||||
| Total assets | 107,797,258 | 21,892,893 | 26,638,195 | 19,677,574 | 12,209,773 | 7,522,104 | 17,480,218 | 8,379,626 | ||||||||||||||||||||||||||
| LIABILITIES | ||||||||||||||||||||||||||||||||||
| Investment management fees payable | — | 8 | — | 507 | 298 | 217 | 813 | 345 | ||||||||||||||||||||||||||
| Service agreement fees payable | 2,032 | 56 | 646 | 409 | — | 12 | — | — | ||||||||||||||||||||||||||
| Payable for collateral for securities loaned | 1,145,207 | 133,043 | 83,079 | 155,626 | 168,752 | 5,091 | 107,576 | — | ||||||||||||||||||||||||||
| Payable for securities transactions | 367,575 | 46,292 | 224,291 | — | 30,608 | 19,177 | 36,293 | — | ||||||||||||||||||||||||||
| Payable for delayed delivery securities | 140 | 1,907 | — | — | 499,066 | 2,998 | 310,393 | — | ||||||||||||||||||||||||||
| Due to affiliates | 137,837 | 5,721 | 7,282 | 6,367 | 6,170 | 841 | 2 | 1,244 | ||||||||||||||||||||||||||
| Overdraft payable | — | — | — | — | — | 4,179 | — | — | ||||||||||||||||||||||||||
| Written options◊ | 4,257 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Payable for variation margin on futures contracts | 71,128 | 6,466 | — | 5,927 | — | — | — | — | ||||||||||||||||||||||||||
| Unrealized depreciation on forward foreign currency contracts | — | — | — | — | 143 | — | — | — | ||||||||||||||||||||||||||
| Payable for trustee compensation | 19,758 | 2,610 | 2,769 | 2,127 | 1,789 | 1,093 | 1,791 | 1,715 | ||||||||||||||||||||||||||
| Other | 9,266 | 1,421 | 4 | 3 | 2 | 1 | 2 | 66 | ||||||||||||||||||||||||||
| Total liabilities | 1,757,200 | 197,524 | 318,071 | 170,966 | 706,828 | 33,609 | 456,870 | 3,370 | ||||||||||||||||||||||||||
| NET ASSETS | $ | 106,040,058 | $ | 21,695,369 | $ | 26,320,124 | $ | 19,506,608 | $ | 11,502,945 | $ | 7,488,495 | $ | 17,023,348 | $ | 8,376,256 | ||||||||||||||||||
| CLASS R1 (Accumulation): | Net assets | $ | 12,554,495 | $ | 3,425,733 | $ | 4,756,319 | $ | 3,765,857 | $ | 1,826,079 | $ | 1,272,570 | $ | 2,432,936 | $ | 1,667,063 | |||||||||||||||||
| Units outstanding | 20,513 | 15,244 | 17,401 | 11,809 | 14,691 | 16,233 | 8,526 | 63,291 | ||||||||||||||||||||||||||
| Unit value | $ | 612.04 | $ | 224.73 | $ | 273.34 | $ | 318.91 | $ | 124.30 | $ | 78.39 | $ | 285.35 | $ | 26.34 | ||||||||||||||||||
| CLASS R2 (Accumulation): | Net assets | 31,199,803 | 7,021,035 | 8,638,730 | 6,506,837 | 3,890,923 | 2,198,661 | 5,846,509 | 2,494,036 | |||||||||||||||||||||||||
| Units outstanding | 50,211 | 30,773 | 31,130 | 20,097 | 30,832 | 27,625 | 20,182 | 93,689 | ||||||||||||||||||||||||||
| Unit value | $ | 621.38 | $ | 228.15 | $ | 277.51 | $ | 323.77 | $ | 126.20 | $ | 79.59 | $ | 289.69 | $ | 26.62 | ||||||||||||||||||
| CLASS R3 (Accumulation): | Net assets | 52,576,810 | 10,840,218 | 12,388,492 | 8,757,491 | 5,520,598 | 3,837,392 | 8,331,894 | 4,102,225 | |||||||||||||||||||||||||
| Units outstanding | 84,207 | 47,284 | 44,426 | 26,919 | 43,536 | 47,984 | 28,623 | 153,530 | ||||||||||||||||||||||||||
| Unit value | $ | 624.38 | $ | 229.26 | $ | 278.85 | $ | 325.33 | $ | 126.81 | $ | 79.97 | $ | 291.09 | $ | 26.72 | ||||||||||||||||||
| ANNUITY: | Net assets | $ | 9,708,950 | $ | 408,383 | $ | 536,583 | $ | 476,423 | $ | 265,345 | $ | 179,872 | $ | 412,009 | $ | 112,932 | |||||||||||||||||
| * Includes securities loaned of | $ | 1,557,609 | $ | 180,533 | $ | 79,609 | $ | 193,610 | $ | 170,562 | $ | 4,917 | $ | 135,982 | $ | — | ||||||||||||||||||
| **Includes cash collateral for securities loaned of | $ | 1 | $ | 1 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
| # Includes cash collateral for mortgage dollar rolls of | $ | — | $ | — | $ | — | $ | — | $ | 99,234 | $ | — | $ | 32,234 | $ | — | ||||||||||||||||||
| † Portfolio investments; unaffiliated issuers cost | $ | 110,387,033 | $ | 21,365,081 | $ | 29,232,539 | $ | 8,097,590 | $ | 12,990,722 | $ | 7,662,215 | $ | 17,084,289 | $ | 8,372,973 | ||||||||||||||||||
| ‡ Portfolio investments, affiliated issuers cost | $ | 105,751 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
| ^ Foreign cash, cost | $ | 46,049 | $ | 7,054 | $ | — | $ | — | $ | 979 | $ | — | $ | 2,604 | $ | — | ||||||||||||||||||
| ◊ Written options premiums | $ | 3,926 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ||||||||||||||||||
| 70 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 71 |
Statements of operations (unaudited)
College Retirement Equities Fund ■ For the period or year ended June 30, 2022
| (amounts in thousands) | Stock Account | Global Equities Account | Growth Account | Equity Index Account | Core Bond Account | Inflation-Linked Bond Account | Social Choice Account | Money Market Account | ||||||||||||||||||||||||||
| INVESTMENT INCOME | ||||||||||||||||||||||||||||||||||
| Dividends: | ||||||||||||||||||||||||||||||||||
| Unaffiliated issuers* | $ | 1,289,840 | $ | 271,685 | $ | 109,961 | $ | 156,290 | $ | 148 | $ | — | $ | 119,947 | $ | — | ||||||||||||||||||
| Affiliated issuers* | 1,494 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Income from securities lending, net | 9,825 | 930 | 231 | 1,037 | 293 | 21 | 824 | — | ||||||||||||||||||||||||||
| Interest* | 2,141 | 411 | 236 | 118 | 165,437 | 307,793 | 97,092 | 17,573 | ||||||||||||||||||||||||||
| Other | 376 | 185 | 62 | — | 1,727 | 488 | 688 | — | ||||||||||||||||||||||||||
| Total income | 1,303,676 | 273,211 | 110,490 | 157,445 | 167,605 | 308,302 | 218,551 | 17,573 | ||||||||||||||||||||||||||
| EXPENSES | ||||||||||||||||||||||||||||||||||
| Investment management fees | 54,738 | 9,173 | 7,795 | 1,256 | 4,380 | 828 | 4,140 | 1,515 | ||||||||||||||||||||||||||
| Administrative – Class R1 | 19,069 | 5,211 | 7,619 | 5,706 | 2,583 | 1,698 | 3,446 | 2,197 | ||||||||||||||||||||||||||
| Administrative – Class R2 | 28,008 | 6,330 | 8,231 | 5,850 | 3,263 | 1,777 | 4,897 | 1,938 | ||||||||||||||||||||||||||
| Administrative – Class R3 | 41,728 | 7,628 | 9,132 | 6,180 | 3,606 | 2,372 | 5,421 | 2,410 | ||||||||||||||||||||||||||
| Distribution fees – Class R1 | 7,136 | 1,949 | 2,862 | 2,135 | 966 | 633 | 1,287 | 819 | ||||||||||||||||||||||||||
| Distribution fees – Class R2 | 9,041 | 2,043 | 2,646 | 1,890 | 1,053 | 577 | 1,585 | 629 | ||||||||||||||||||||||||||
| Distribution fees – Class R3 | 12,311 | 2,249 | 2,678 | 1,826 | 1,065 | 707 | 1,609 | 717 | ||||||||||||||||||||||||||
| Mortality and expense risk charges | 3,045 | 628 | 797 | 560 | 308 | 191 | 455 | 208 | ||||||||||||||||||||||||||
| Total expenses | 175,076 | 35,211 | 41,760 | 25,403 | 17,224 | 8,783 | 22,840 | 10,433 | ||||||||||||||||||||||||||
| Plus: Recovery of expenses previously withheld by TIAA | — | — | — | — | — | — | — | 2,621 | ||||||||||||||||||||||||||
| Net expenses | 175,076 | 35,211 | 41,760 | 25,403 | 17,224 | 8,783 | 22,840 | 13,054 | ||||||||||||||||||||||||||
| Net investment income (loss) | 1,128,600 | 238,000 | 68,730 | 132,042 | 150,381 | 299,519 | 195,711 | 4,519 | ||||||||||||||||||||||||||
| NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS | ||||||||||||||||||||||||||||||||||
| Realized gain (loss): | ||||||||||||||||||||||||||||||||||
| Portfolio investments: | ||||||||||||||||||||||||||||||||||
| Unaffiliated issuers† | 2,740,095 | 376,066 | 250,054 | 718,805 | (314,647 | ) | 4,089 | 121,715 | 6 | |||||||||||||||||||||||||
| Affiliated issuers | (15,767 | ) | — | — | — | — | — | — | — | |||||||||||||||||||||||||
| Purchased options | (3,944 | ) | — | — | — | — | — | — | — | |||||||||||||||||||||||||
| Written options | 1,205 | — | 4,204 | — | — | — | — | — | ||||||||||||||||||||||||||
| Futures contracts | (101,506 | ) | (33,503 | ) | — | (7,740 | ) | 34,453 | 20,758 | — | — | |||||||||||||||||||||||
| Forward foreign currency contracts | 2,627 | — | — | — | 12,130 | — | 826 | — | ||||||||||||||||||||||||||
| Swap contracts | — | — | — | — | 773 | — | — | — | ||||||||||||||||||||||||||
| Foreign currency transactions | (31,730 | ) | (2,167 | ) | (55 | ) | — | (1,411 | ) | — | (1,017 | ) | — | |||||||||||||||||||||
| Net realized gain (loss) on total investments | 2,590,980 | 340,396 | 254,203 | 711,065 | (268,702 | ) | 24,847 | 121,524 | 6 | |||||||||||||||||||||||||
| Change in unrealized appreciation (depreciation) on: | ||||||||||||||||||||||||||||||||||
| Portfolio investments: | ||||||||||||||||||||||||||||||||||
| Unaffiliated issuers‡ | (32,052,845 | ) | (6,432,633 | ) | (12,490,792 | ) | (6,159,002 | ) | (1,365,415 | ) | (683,064 | ) | (3,686,333 | ) | — | |||||||||||||||||||
| Affiliated issuers | 19,857 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Purchased options | 1,137 | — | — | — | — | — | — | — | ||||||||||||||||||||||||||
| Written options | 460 | — | (2,703 | ) | — | — | — | — | — | |||||||||||||||||||||||||
| Futures contracts | (82,588 | ) | (10,319 | ) | — | (8,065 | ) | 5,129 | 4,645 | — | — | |||||||||||||||||||||||
| Forward foreign currency contracts | (1,824 | ) | — | — | — | 4,197 | — | (302 | ) | — | ||||||||||||||||||||||||
| Swap contracts | — | — | — | (140 | ) | — | ||||||||||||||||||||||||||||
| Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies | (4,472 | ) | (1,000 | ) | (20 | ) | — | (44 | ) | — | (521 | ) | — | |||||||||||||||||||||
| Net change in unrealized appreciation (depreciation) on total investments | (32,120,275 | ) | (6,443,952 | ) | (12,493,515 | ) | (6,167,067 | ) | (1,356,273 | ) | (678,419 | ) | (3,687,156 | ) | — | |||||||||||||||||||
| Net realized and unrealized gain (loss) on total investments | (29,529,295 | ) | (6,103,556 | ) | (12,239,312 | ) | (5,456,002 | ) | (1,624,975 | ) | (653,572 | ) | (3,565,632 | ) | 6 | |||||||||||||||||||
| Net increase (decrease) in net assets from operations | $ | (28,400,695 | ) | $ | (5,865,556 | ) | $ | (12,170,582 | ) | $ | (5,323,960 | ) | $ | (1,474,594 | ) | $ | (354,053 | ) | $ | (3,369,921 | ) | $ | 4,525 | |||||||||||
| * Net of foreign withholding taxes of unaffiliated issuers | $ | 80,862 | $ | 17,338 | $ | 1,053 | $ | 57 | $ | 64 | $ | 5 | $ | 7,388 | $ | — | ||||||||||||||||||
| † Includes net realized gain (loss) from securities sold to affiliates of | $ | 205,931 | $ | 150,516 | $ | 28,926 | $ | 70,423 | $ | — | $ | — | $ | 12,884 | $ | — | ||||||||||||||||||
| ‡ Includes net change in unrealized foreign capital gains taxes of | $ | 29,068 | $ | 3,553 | $ | — | $ | — | $ | 10 | $ | — | $ | — | $ | — | ||||||||||||||||||
| 72 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 73 |
Statements of changes in net assets
College Retirement Equities Fund ■ For the period or year ended
| Stock Account | Global Equities Account | Growth Account | ||||||||||||||||||||||||
| (amounts in thousands except accumulation units) | June 30, 2022 | December 31, 2021 | June 30, 2022 | December 31, 2021 | June 30, 2022 | December 31, 2021 | ||||||||||||||||||||
| (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||
| OPERATIONS | ||||||||||||||||||||||||||
| Net investment income (loss) | $ | 1,128,600 | $ | 1,821,735 | $ | 238,000 | $ | 440,652 | $ | 68,730 | $ | 110,089 | ||||||||||||||
| Net realized gain (loss) on total investments | 2,590,980 | 21,056,532 | 340,396 | 2,782,573 | 254,203 | 8,260,209 | ||||||||||||||||||||
| Net change in unrealized appreciation (depreciation) on total investments | (32,120,275 | ) | 364,478 | (6,443,952 | ) | 646,078 | (12,493,515 | ) | (1,351,540 | ) | ||||||||||||||||
| Net increase (decrease) in net assets from operations | (28,400,695 | ) | 23,242,745 | (5,865,556 | ) | 3,869,303 | (12,170,582 | ) | 7,018,758 | |||||||||||||||||
| FROM PARTICIPANT TRANSACTIONS | ||||||||||||||||||||||||||
| Premiums and contributions: | Class R1 | 162,097 | 455,255 | 74,120 | 244,064 | 88,534 | 248,869 | |||||||||||||||||||
| Class R2 | 376,834 | 793,161 | 99,918 | 414,131 | 103,421 | 254,281 | ||||||||||||||||||||
| Class R3 | 751,210 | 1,537,635 | 257,161 | 1,395,637 | 196,680 | 474,064 | ||||||||||||||||||||
| Net transfers between CREF Accounts: | Class R1 | (89,604 | ) | (330,829 | ) | (16,775 | ) | 23,444 | (47,207 | ) | (153,956 | ) | ||||||||||||||
| Class R2 | (347,403 | ) | (665,182 | ) | (87,773 | ) | 198,427 | (187,080 | ) | (269,570 | ) | |||||||||||||||
| Class R3 | 85,211 | 137,623 | 30,347 | 651,125 | (12,025 | ) | 46,203 | |||||||||||||||||||
| Withdrawals and death benefits: | Class R1 | (661,057 | ) | (1,633,223 | ) | (202,390 | ) | (419,084 | ) | (288,262 | ) | (710,164 | ) | |||||||||||||
| Class R2 | (1,599,740 | ) | (3,832,963 | ) | (380,764 | ) | (786,675 | ) | (470,550 | ) | (1,128,577 | ) | ||||||||||||||
| Class R3 | (2,619,002 | ) | (5,977,933 | ) | (929,486 | ) | (1,164,173 | ) | (699,843 | ) | (1,576,674 | ) | ||||||||||||||
| Annuity payments: | (787,935 | ) | (1,517,323 | ) | (26,729 | ) | (49,723 | ) | (36,826 | ) | (70,542 | ) | ||||||||||||||
| Net increase (decrease) from participant transactions | (4,729,389 | ) | (11,033,779 | ) | (1,182,371 | ) | 507,173 | (1,353,158 | ) | (2,886,066 | ) | |||||||||||||||
| Net increase (decrease) in net assets | (33,130,084 | ) | 12,208,966 | (7,047,927 | ) | 4,376,476 | (13,523,740 | ) | 4,132,692 | |||||||||||||||||
| NET ASSETS | ||||||||||||||||||||||||||
| Beginning of period | 139,170,142 | 126,961,176 | 28,743,296 | 24,366,820 | 39,843,864 | 35,711,172 | ||||||||||||||||||||
| End of period | $ | 106,040,058 | $ | 139,170,142 | $ | 21,695,369 | $ | 28,743,296 | $ | 26,320,124 | $ | 39,843,864 | ||||||||||||||
| ACCUMULATION UNITS: | ||||||||||||||||||||||||||
| Units purchased: | Class R1 | 232,279 | 626,453 | 287,343 | 905,951 | 270,863 | 684,354 | |||||||||||||||||||
| Class R2 | 537,435 | 1,078,729 | 384,518 | 1,533,070 | 310,814 | 693,135 | ||||||||||||||||||||
| Class R3 | 908,982 | 1,771,662 | 929,100 | 5,046,926 | 540,896 | 1,171,927 | ||||||||||||||||||||
| Units sold / transferred: | Class R1 | (1,074,098 | ) | (2,697,581 | ) | (859,609 | ) | (1,462,434 | ) | (1,024,208 | ) | (2,352,050 | ) | |||||||||||||
| Class R2 | (2,767,855 | ) | (6,105,139 | ) | (1,832,282 | ) | (2,149,749 | ) | (2,000,133 | ) | (3,794,135 | ) | ||||||||||||||
| Class R3 | (3,546,199 | ) | (7,873,094 | ) | (3,457,737 | ) | (1,840,929 | ) | (2,119,239 | ) | (4,135,893 | ) | ||||||||||||||
| Outstanding: | ||||||||||||||||||||||||||
| Beginning of period | 160,639,318 | 173,838,288 | 97,850,057 | 95,817,222 | 96,977,784 | 104,710,446 | ||||||||||||||||||||
| End of period | 154,929,862 | 160,639,318 | 93,301,390 | 97,850,057 | 92,956,777 | 96,977,784 | ||||||||||||||||||||
| 74 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 75 |
| Statements of changes in net assets | continued |
| College Retirement Equities Fund ■ For the period or year ended |
| Equity Index Account | Core Bond Account | Inflation-Linked Bond Account | ||||||||||||||||||||||||
| (amounts in thousands except accumulation units) | June 30, 2022 | December 31, 2021 | June 30, 2022 | December 31, 2021 | June 30, 2022 | December 31, 2021 | ||||||||||||||||||||
| (unaudited) | (unaudited) | (unaudited) | ||||||||||||||||||||||||
| OPERATIONS | ||||||||||||||||||||||||||
| Net investment income (loss) | $ | 132,042 | $ | 262,881 | $ | 150,381 | $ | 286,720 | $ | 299,519 | $ | 396,128 | ||||||||||||||
| Net realized gain (loss) on total investments | 711,065 | 1,495,760 | (268,702 | ) | 133,376 | 24,847 | 145,292 | |||||||||||||||||||
| Net change in unrealized appreciation (depreciation) on total investments | (6,167,067 | ) | 3,643,156 | (1,356,273 | ) | (614,560 | ) | (678,419 | ) | (160,452 | ) | |||||||||||||||
| Net increase (decrease) in net assets from operations | (5,323,960 | ) | 5,401,797 | (1,474,594 | ) | (194,464 | ) | (354,053 | ) | 380,968 | ||||||||||||||||
| FROM PARTICIPANT TRANSACTIONS | ||||||||||||||||||||||||||
| Premiums and contributions: | Class R1 | 75,925 | 199,677 | 50,594 | 128,344 | 97,561 | 165,913 | |||||||||||||||||||
| Class R2 | 117,635 | 227,332 | 69,460 | 204,538 | 83,301 | 165,980 | ||||||||||||||||||||
| Class R3 | 119,947 | 316,635 | 141,424 | 352,642 | 215,426 | 389,257 | ||||||||||||||||||||
| Net transfers between CREF Accounts: | Class R1 | (17,070 | ) | (61,469 | ) | (11,295 | ) | (5,189 | ) | 21,865 | 57,085 | |||||||||||||||
| Class R2 | (105,212 | ) | (132,039 | ) | (68,055 | ) | (65,811 | ) | 12,034 | 96,950 | ||||||||||||||||
| Class R3 | 22,639 | 185,799 | (10,035 | ) | 36,925 | 109,135 | 244,821 | |||||||||||||||||||
| Withdrawals and death benefits: | Class R1 | (207,390 | ) | (467,843 | ) | (131,723 | ) | (308,592 | ) | (89,288 | ) | (163,608 | ) | |||||||||||||
| Class R2 | (346,230 | ) | (782,911 | ) | (257,650 | ) | (601,847 | ) | (147,270 | ) | (290,071 | ) | ||||||||||||||
| Class R3 | (478,556 | ) | (974,371 | ) | (412,136 | ) | (917,058 | ) | (274,321 | ) | (434,425 | ) | ||||||||||||||
| Annuity payments: | (31,104 | ) | (57,953 | ) | (15,442 | ) | (32,280 | ) | (10,160 | ) | (20,118 | ) | ||||||||||||||
| Net increase (decrease) from participant transactions | (849,416 | ) | (1,547,143 | ) | (644,858 | ) | (1,208,328 | ) | 18,283 | 211,784 | ||||||||||||||||
| Net increase (decrease) in net assets | (6,173,376 | ) | 3,854,654 | (2,119,452 | ) | (1,402,792 | ) | (335,770 | ) | 592,752 | ||||||||||||||||
| NET ASSETS | ||||||||||||||||||||||||||
| Beginning of period | 25,679,984 | 21,825,330 | 13,622,397 | 15,025,189 | 7,824,265 | 7,231,513 | ||||||||||||||||||||
| End of period | $ | 19,506,608 | $ | 25,679,984 | $ | 11,502,945 | $ | 13,622,397 | $ | 7,488,495 | $ | 7,824,265 | ||||||||||||||
| ACCUMULATION UNITS: | ||||||||||||||||||||||||||
| Units purchased: | Class R1 | 209,417 | 548,559 | 384,932 | 917,233 | 1,211,536 | 2,071,442 | |||||||||||||||||||
| Class R2 | 315,682 | 622,233 | 523,048 | 1,442,226 | 1,017,576 | 2,045,289 | ||||||||||||||||||||
| Class R3 | 297,271 | 777,520 | 991,364 | 2,309,030 | 2,565,519 | 4,645,656 | ||||||||||||||||||||
| Units sold / transferred: | Class R1 | (617,492 | ) | (1,428,232 | ) | (1,094,233 | ) | (2,244,467 | ) | (840,087 | ) | (1,330,905 | ) | |||||||||||||
| Class R2 | (1,231,084 | ) | (2,474,012 | ) | (2,457,064 | ) | (4,709,301 | ) | (1,669,500 | ) | (2,392,181 | ) | ||||||||||||||
| Class R3 | (1,233,126 | ) | (2,094,908 | ) | (3,150,764 | ) | (6,177,678 | ) | (2,007,967 | ) | (2,369,983 | ) | ||||||||||||||
| Outstanding: | ||||||||||||||||||||||||||
| Beginning of period | 61,083,555 | 65,132,395 | 93,861,740 | 102,324,697 | 91,565,563 | 88,896,245 | ||||||||||||||||||||
| End of period | 58,824,223 | 61,083,555 | 89,059,023 | 93,861,740 | 91,842,640 | 91,565,563 | ||||||||||||||||||||
| 76 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 77 |
| Statements of changes in net assets | concluded |
| College Retirement Equities Fund ■ For the period or year ended |
| Social Choice Account | Money Market Account | |||||||||||||||||||||||||
| (amounts in thousands except accumulation units) | June 30, 2022 | December 31, 2021 | June 30, 2022 | December 31, 2021 | ||||||||||||||||||||||
| (unaudited) | (unaudited) | |||||||||||||||||||||||||
| OPERATIONS | ||||||||||||||||||||||||||
| Net investment income (loss) | $ | 195,711 | $ | 325,728 | $ | 4,519 | $ | — | ||||||||||||||||||
| Net realized gain (loss) on total investments | 121,524 | 1,402,116 | 6 | 12 | ||||||||||||||||||||||
| Net change in unrealized appreciation (depreciation) on total investments | (3,687,156 | ) | 466,434 | — | — | |||||||||||||||||||||
| Net increase (decrease) in net assets from operations | (3,369,921 | ) | 2,194,278 | 4,525 | 12 | |||||||||||||||||||||
| FROM PARTICIPANT TRANSACTIONS | ||||||||||||||||||||||||||
| Premiums and contributions: | Class R1 | 143,683 | 165,207 | 326,834 | 604,893 | |||||||||||||||||||||
| Class R2 | 339,579 | 450,311 | 239,566 | 462,476 | ||||||||||||||||||||||
| Class R3 | 576,300 | 783,231 | 535,124 | 983,239 | ||||||||||||||||||||||
| Net transfers between CREF Accounts: | Class R1 | 45,133 | 7,611 | 17,273 | (114,678 | ) | ||||||||||||||||||||
| Class R2 | 92,257 | 121,334 | 61,672 | (139,487 | ) | |||||||||||||||||||||
| Class R3 | 319,290 | 353,969 | 182,679 | (223,277 | ) | |||||||||||||||||||||
| Withdrawals and death benefits: | Class R1 | (112,922 | ) | (253,417 | ) | (336,330 | ) | (831,769 | ) | |||||||||||||||||
| Class R2 | (287,479 | ) | (585,245 | ) | (321,162 | ) | (1,018,259 | ) | ||||||||||||||||||
| Class R3 | (449,901 | ) | (834,999 | ) | (682,604 | ) | (1,951,449 | ) | ||||||||||||||||||
| Annuity payments: | (24,205 | ) | (45,814 | ) | (6,577 | ) | (13,585 | ) | ||||||||||||||||||
| Net increase (decrease) from participant transactions | 641,735 | 162,188 | 16,475 | (2,241,896 | ) | |||||||||||||||||||||
| Net increase (decrease) in net assets | (2,728,186 | ) | 2,356,466 | 21,000 | (2,241,884 | ) | ||||||||||||||||||||
| NET ASSETS | ||||||||||||||||||||||||||
| Beginning of period | 19,751,534 | 17,395,068 | 8,355,256 | 10,597,140 | ||||||||||||||||||||||
| End of period | $ | 17,023,348 | $ | 19,751,534 | $ | 8,376,256 | $ | 8,355,256 | ||||||||||||||||||
| ACCUMULATION UNITS: | ||||||||||||||||||||||||||
| Units purchased: | Class R1 | 459,976 | 506,965 | 12,411,635 | 22,961,824 | |||||||||||||||||||||
| Class R2 | 1,073,265 | 1,359,568 | 9,005,769 | 17,382,698 | ||||||||||||||||||||||
| Class R3 | 1,743,570 | 2,232,512 | 19,882,550 | 36,366,262 | ||||||||||||||||||||||
| Units sold / transferred: | Class R1 | (215,352 | ) | (747,385 | ) | (12,116,816 | ) | (35,927,258 | ) | |||||||||||||||||
| Class R2 | (625,198 | ) | (1,403,617 | ) | (9,754,109 | ) | (43,515,193 | ) | ||||||||||||||||||
| Class R3 | (409,078 | ) | (1,475,437 | ) | (18,640,063 | ) | (81,213,221 | ) | ||||||||||||||||||
| Outstanding: | ||||||||||||||||||||||||||
| Beginning of period | 55,304,019 | 54,831,413 | 309,720,448 | 393,665,336 | ||||||||||||||||||||||
| End of period | 57,331,202 | 55,304,019 | 310,509,414 | 309,720,448 | ||||||||||||||||||||||
| 78 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 79 |
College Retirement Equities Fund
| Selected per accumulation unit data | Ratios and supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gain (loss) from investment operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net realized | Ratios to average net assets | Accumulation | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net | & unrealized | Net | Accumulation | Accumulation | Net | units | Accumulation | |||||||||||||||||||||||||||||||||||||||||||||||
| For the | investment | gain (loss | ) | change in | unit value | unit value | investment | Portfolio | outstanding | fund net | ||||||||||||||||||||||||||||||||||||||||||||
| period or year | Investment | income | on total | accumulation | beginning | end of | Total | Gross | income | turnover | end of period | assets | ||||||||||||||||||||||||||||||||||||||||||
| ended | income | a | Expenses | a | (loss | )a | investments | unit value | of period | period | return | b | expenses | (loss | ) | rate | (in millions | ) | (in millions | )i | ||||||||||||||||||||||||||||||||||
| STOCK ACCOUNT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R1: | 6/30/22 | # | $ 7.386 | $1.582 | $5.804 | $(167.328 | ) | $(161.524 | ) | $773.561 | $612.037 | (20.88 | )%c | 0.46 | %d | 1.68 | %d | 21 | %c | 21 | $12,554 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 11.657 | 3.132 | 8.525 | 113.206 | 121.731 | 651.830 | 773.561 | 18.67 | 0.43 | 1.17 | 50 | 21 | 16,519 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 9.890 | 2.810 | 7.080 | 90.652 | 97.732 | 554.098 | 651.830 | 17.64 | 0.52 | 1.31 | 69 | 23 | 15,270 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 11.125 | 2.749 | 8.376 | 109.873 | 118.249 | 435.849 | 554.098 | 27.13 | 0.55 | 1.67 | 60 | 26 | 14,577 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 10.238 | 2.573 | 7.665 | (55.323 | ) | (47.658 | ) | 483.507 | 435.849 | (9.86 | ) | 0.53 | 1.57 | 55 | 29 | 12,655 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 8.937 | 2.869 | 6.068 | 84.379 | 90.447 | 393.060 | 483.507 | 23.01 | 0.65 | 1.38 | 48 | 33 | 15,853 | |||||||||||||||||||||||||||||||||||||||||
| Class R2: | 6/30/22 | # | 7.494 | 1.055 | 6.439 | (169.814 | ) | (163.375 | ) | 784.753 | 621.378 | (20.82 | )c | 0.30 | c | 1.84 | d | 21 | c | 50 | 31,200 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 11.811 | 2.055 | 9.756 | 114.741 | 124.497 | 660.256 | 784.753 | 18.86 | 0.28 | 1.33 | 50 | 52 | 41,153 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 10.005 | 1.916 | 8.089 | 91.852 | 99.941 | 560.315 | 660.256 | 17.84 | 0.35 | 1.47 | 69 | 57 | 37,943 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 11.240 | 1.772 | 9.468 | 110.979 | 120.447 | 439.868 | 560.315 | 27.38 | 0.35 | 1.86 | 60 | 63 | 35,441 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 10.327 | 1.687 | 8.640 | (55.847 | ) | (47.207 | ) | 487.075 | 439.868 | (9.69 | ) | 0.34 | 1.75 | 55 | 70 | 30,866 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 8.990 | 1.736 | 7.254 | 84.893 | 92.147 | 394.928 | 487.075 | 23.33 | 0.39 | 1.64 | 48 | 78 | 38,159 | |||||||||||||||||||||||||||||||||||||||||
| Class R3: | 6/30/22 | # | 7.535 | 0.866 | 6.669 | (170.620 | ) | (163.951 | ) | 788.330 | 624.379 | (20.80 | )c | 0.25 | d | 1.90 | d | 21 | c | 84 | 52,577 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 11.872 | 1.688 | 10.184 | 115.218 | 125.402 | 662.928 | 788.330 | 18.92 | 0.23 | 1.38 | 50 | 87 | 68,462 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 10.044 | 1.598 | 8.446 | 92.234 | 100.680 | 562.248 | 662.928 | 17.91 | 0.29 | 1.53 | 69 | 93 | 61,616 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 11.279 | 1.507 | 9.772 | 111.324 | 121.096 | 441.152 | 562.248 | 27.45 | 0.30 | 1.92 | 60 | 103 | 57,944 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 10.352 | 1.485 | 8.867 | (56.010 | ) | (47.143 | ) | 488.295 | 441.152 | (9.65 | ) | 0.30 | 1.79 | 55 | 114 | 50,309 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 9.010 | 1.395 | 7.615 | 85.073 | 92.688 | 395.607 | 488.295 | 23.43 | 0.32 | 1.72 | 48 | 124 | 60,531 | |||||||||||||||||||||||||||||||||||||||||
| GLOBAL EQUITIES ACCOUNT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R1: | 6/30/22 | # | 2.759 | 0.560 | 2.199 | (61.678 | ) | (59.479 | ) | 284.209 | 224.730 | (20.93 | )c | 0.44 | d | 1.73 | d | 24 | c | 15 | 3,426 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 5.035 | 1.096 | 3.939 | 34.023 | 37.962 | 246.247 | 284.209 | 15.42 | 0.41 | 1.46 | 46 | 16 | 4,495 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 3.467 | 1.009 | 2.458 | 42.730 | 45.188 | 201.059 | 246.247 | 22.48 | 0.50 | 1.23 | 63 | 16 | 4,032 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.042 | 0.913 | 3.129 | 40.803 | 43.932 | 157.127 | 201.059 | 27.96 | 0.50 | 1.73 | 67 | 18 | 3,682 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 3.712 | 0.948 | 2.764 | (25.325 | ) | (22.561 | ) | 179.688 | 157.127 | (12.56 | ) | 0.53 | 1.54 | 77 | 20 | 3,154 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.346 | 1.117 | 2.229 | 32.997 | 35.226 | 144.462 | 179.688 | 24.38 | 0.69 | 1.38 | 36 | 20 | 3,681 | |||||||||||||||||||||||||||||||||||||||||
| Class R2: | 6/30/22 | # | 2.799 | 0.366 | 2.433 | (62.593 | ) | (60.160 | ) | 288.314 | 228.154 | (20.87 | )c | 0.28 | d | 1.89 | d | 24 | c | 31 | 7,021 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 5.099 | 0.697 | 4.402 | 34.488 | 38.890 | 249.424 | 288.314 | 15.59 | 0.26 | 1.61 | 46 | 32 | 9,290 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 3.505 | 0.678 | 2.827 | 43.288 | 46.115 | 203.309 | 249.424 | 22.68 | 0.33 | 1.39 | 63 | 33 | 8,190 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.081 | 0.560 | 3.521 | 41.217 | 44.738 | 158.571 | 203.309 | 28.21 | 0.31 | 1.92 | 67 | 35 | 7,150 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 3.746 | 0.624 | 3.122 | (25.558 | ) | (22.436 | ) | 181.007 | 158.571 | (12.40 | ) | 0.35 | 1.73 | 77 | 38 | 6,104 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.365 | 0.700 | 2.665 | 33.198 | 35.863 | 145.144 | 181.007 | 24.71 | 0.43 | 1.64 | 36 | 39 | 7,131 | |||||||||||||||||||||||||||||||||||||||||
| Class R3: | 6/30/22 | # | 2.813 | 0.296 | 2.517 | (62.888 | ) | (60.371 | ) | 289.627 | 229.256 | (20.84 | )c | 0.23 | d | 1.95 | d | 24 | c | 47 | 10,840 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 5.129 | 0.560 | 4.569 | 34.624 | 39.193 | 250.434 | 289.627 | 15.65 | 0.20 | 1.67 | 46 | 50 | 14,427 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 3.517 | 0.561 | 2.956 | 43.466 | 46.422 | 204.012 | 250.434 | 22.75 | 0.27 | 1.45 | 63 | 47 | 11,672 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.095 | 0.465 | 3.630 | 41.347 | 44.977 | 159.035 | 204.012 | 28.28 | 0.25 | 1.98 | 67 | 49 | 10,088 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 3.747 | 0.547 | 3.200 | (25.626 | ) | (22.426 | ) | 181.461 | 159.035 | (12.36 | ) | 0.30 | 1.77 | 77 | 54 | 8,621 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.372 | 0.574 | 2.798 | 33.270 | 36.068 | 145.393 | 181.461 | 24.81 | 0.35 | 1.71 | 36 | 53 | 9,558 | |||||||||||||||||||||||||||||||||||||||||
| 80 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 81 |
| Financial highlights | continued |
College Retirement Equities Fund
| Selected per accumulation unit data | Ratios and supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gain (loss) from investment operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net realized | Ratios to average net assets | Accumulation | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net | & unrealized | Net | Accumulation | Accumulation | Net | units | Accumulation | |||||||||||||||||||||||||||||||||||||||||||||||
| For the | investment | gain (loss | ) | change in | unit value | unit value | investment | Portfolio | outstanding | fund net | ||||||||||||||||||||||||||||||||||||||||||||
| period or year | Investment | income | on total | accumulation | beginning | end of | Total | Gross | income | turnover | end of period | assets | ||||||||||||||||||||||||||||||||||||||||||
| ended | income | a | Expenses | a | (loss | )a | investments | unit value | of period | period | return | b | expenses | (loss | ) | rate | (in millions | ) | (in millions | )i | ||||||||||||||||||||||||||||||||||
| GROWTH ACCOUNT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R1: | 6/30/22 | # | $1.125 | $0.678 | $0.447 | $(124.131 | ) | $(123.684 | ) | $397.024 | $273.340 | (31.15 | )%c | 0.42 | %d | 0.28 | %d | 24 | %c | 17 | $ 4,756 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 1.902 | 1.389 | 0.513 | 66.175 | 66.688 | 330.336 | 397.024 | 20.19 | 0.38 | 0.14 | 67 | 18 | 7,208 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 1.972 | 1.242 | 0.730 | 94.391 | 95.121 | 235.215 | 330.336 | 40.44 | 0.47 | 0.27 | 82 | 20 | 6,548 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 1.988 | 1.026 | 0.962 | 55.151 | 56.113 | 179.102 | 235.215 | 31.33 | 0.48 | 0.45 | 85 | 22 | 5,184 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 2.166 | 0.914 | 1.252 | (6.193 | ) | (4.941 | ) | 184.043 | 179.102 | (2.69 | ) | 0.46 | 0.63 | 62 | 24 | 4,311 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 1.818 | 0.977 | 0.841 | 43.121 | 43.962 | 140.081 | 184.043 | 31.38 | 0.60 | 0.52 | 48 | 26 | 4,841 | |||||||||||||||||||||||||||||||||||||||||
| Class R2: | 6/30/22 | # | 1.142 | 0.429 | 0.713 | (125.970 | ) | (125.257 | ) | 402.766 | 277.509 | (31.10 | )c | 0.26 | d | 0.43 | d | 24 | c | 31 | 8,639 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 1.929 | 0.844 | 1.085 | 67.078 | 68.163 | 334.603 | 402.766 | 20.37 | 0.23 | 0.29 | 67 | 33 | 13,218 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 1.995 | 0.800 | 1.195 | 95.559 | 96.754 | 237.849 | 334.603 | 40.68 | 0.30 | 0.44 | 82 | 36 | 12,019 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 2.007 | 0.609 | 1.398 | 55.701 | 57.099 | 180.750 | 237.849 | 31.59 | 0.28 | 0.65 | 85 | 39 | 9,335 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 2.186 | 0.555 | 1.631 | (6.277 | ) | (4.646 | ) | 185.396 | 180.750 | (2.51 | ) | 0.28 | 0.82 | 62 | 43 | 7,850 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 1.830 | 0.556 | 1.274 | 43.379 | 44.653 | 140.743 | 185.396 | 31.73 | 0.34 | 0.78 | 48 | 47 | 8,788 | |||||||||||||||||||||||||||||||||||||||||
| Class R3: | 6/30/22 | # | 1.147 | 0.340 | 0.807 | (126.560 | ) | (125.753 | ) | 404.607 | 278.854 | (31.08 | )c | 0.21 | d | 0.49 | d | 24 | c | 44 | 12,388 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 1.935 | 0.658 | 1.277 | 67.368 | 68.645 | 335.962 | 404.607 | 20.43 | 0.18 | 0.34 | 67 | 46 | 18,614 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 2.003 | 0.644 | 1.359 | 95.929 | 97.288 | 238.674 | 335.962 | 40.76 | 0.24 | 0.50 | 82 | 49 | 16,452 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 2.016 | 0.496 | 1.520 | 55.873 | 57.393 | 181.281 | 238.674 | 31.66 | 0.23 | 0.70 | 85 | 54 | 12,898 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 2.193 | 0.471 | 1.722 | (6.301 | ) | (4.579 | ) | 185.860 | 181.281 | (2.46 | ) | 0.24 | 0.86 | 62 | 59 | 10,665 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 1.834 | 0.429 | 1.405 | 43.471 | 44.876 | 140.984 | 185.860 | 31.83 | 0.26 | 0.86 | 48 | 62 | 11,524 | |||||||||||||||||||||||||||||||||||||||||
| EQUITY INDEX ACCOUNT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R1: | 6/30/22 | # | 2.529 | 0.683 | 1.846 | (87.569 | ) | (85.723 | ) | 404.631 | 318.908 | (21.19 | )c | 0.38 | d | 1.03 | d | 2 | c | 12 | 3,766 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 4.795 | 1.326 | 3.469 | 78.134 | 81.603 | 323.028 | 404.631 | 25.26 | 0.36 | 0.95 | 4 | 12 | 4,943 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 4.683 | 1.182 | 3.501 | 51.129 | 54.630 | 268.398 | 323.028 | 20.35 | 0.44 | 1.30 | 3 | 13 | 4,230 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.780 | 1.100 | 3.680 | 58.895 | 62.575 | 205.823 | 268.398 | 30.40 | 0.46 | 1.53 | 2 | 15 | 3,954 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 4.426 | 0.992 | 3.434 | (15.616 | ) | (12.182 | ) | 218.005 | 205.823 | (5.59 | ) | 0.44 | 1.52 | 3 | 16 | 3,308 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.836 | 1.126 | 2.710 | 34.271 | 36.981 | 181.024 | 218.005 | 20.43 | 0.57 | 1.37 | 4 | 18 | 3,912 | |||||||||||||||||||||||||||||||||||||||||
| Class R2: | 6/30/22 | # | 2.566 | 0.406 | 2.160 | (88.870 | ) | (86.710 | ) | 410.480 | 323.770 | (21.12 | )c | 0.22 | d | 1.18 | d | 2 | c | 20 | 6,507 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 4.858 | 0.779 | 4.079 | 79.203 | 83.282 | 327.198 | 410.480 | 25.45 | 0.21 | 1.10 | 4 | 21 | 8,625 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 4.739 | 0.737 | 4.002 | 51.792 | 55.794 | 271.404 | 327.198 | 20.56 | 0.27 | 1.47 | 3 | 23 | 7,481 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.832 | 0.630 | 4.202 | 59.485 | 63.687 | 207.717 | 271.404 | 30.66 | 0.26 | 1.73 | 2 | 25 | 6,889 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 4.465 | 0.581 | 3.884 | (15.774 | ) | (11.890 | ) | 219.607 | 207.717 | (5.41 | ) | 0.26 | 1.71 | 3 | 28 | 5,728 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.859 | 0.612 | 3.247 | 34.480 | 37.727 | 181.880 | 219.607 | 20.74 | 0.31 | 1.63 | 4 | 31 | 6,708 | |||||||||||||||||||||||||||||||||||||||||
| Class R3: | 6/30/22 | # | 2.578 | 0.308 | 2.270 | (89.286 | ) | (87.016 | ) | 412.349 | 325.333 | (21.10 | )c | 0.17 | d | 1.24 | d | 2 | c | 27 | 8,757 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 4.885 | 0.592 | 4.293 | 79.534 | 83.827 | 328.522 | 412.349 | 25.52 | 0.16 | 1.15 | 4 | 28 | 11,486 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 4.757 | 0.578 | 4.179 | 52.002 | 56.181 | 272.341 | 328.522 | 20.63 | 0.21 | 1.53 | 3 | 29 | 9,584 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.851 | 0.502 | 4.349 | 59.668 | 64.017 | 208.324 | 272.341 | 30.73 | 0.21 | 1.78 | 2 | 33 | 8,965 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 4.479 | 0.486 | 3.993 | (15.823 | ) | (11.830 | ) | 220.154 | 208.324 | (5.37 | ) | 0.21 | 1.75 | 3 | 36 | 7,418 | ||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.869 | 0.458 | 3.411 | 34.551 | 37.962 | 182.192 | 220.154 | 20.84 | 0.23 | 1.71 | 4 | 39 | 8,486 | |||||||||||||||||||||||||||||||||||||||||
| 82 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 83 |
| Financial highlights | continued |
College Retirement Equities Fund
| Selected per accumulation unit data | Ratios and supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gain (loss) from investment operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net realized | Ratios to average net assets | Portfolio | Accumulation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| For the period or year ended | Investment income | a | Expenses | a | Net investment income (loss | )a | & unrealized gain (loss on total investments | ) | Net change in accumulation unit value | Accumulation unit value beginning of period | Accumulation unit value end of period | Total return | b | Gross expenses | Net investment income (loss | ) | Portfolio turnover rate | turnover rate excluding mortgage dollar rolls | units outstanding end of period (in millions | ) | Accumulation fund net assets (in millions | )i | ||||||||||||||||||||||||||||||||||||
| CORE BOND ACCOUNT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R1: | 6/30/22 | # | $1.765 | $ | 0.285 | $1.480 | $(17.036 | ) | $(15.556 | ) | $139.858 | $124.302 | (11.12 | )%c | 0.44 | %d | 2.28 | %d | 106 | %c | 48 | %c | 15 | $1,826 | ||||||||||||||||||||||||||||||||||
| 12/31/21 | 3.185 | 0.574 | 2.611 | (4.639 | ) | (2.028 | ) | 141.886 | 139.858 | (1.43 | ) | 0.41 | 1.87 | 207 | 49 | 15 | 2,154 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 3.696 | 0.655 | 3.041 | 7.068 | 10.109 | 131.777 | 141.886 | 7.67 | 0.48 | 2.21 | 135 | 84 | 17 | 2,373 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.029 | 0.634 | 3.395 | 7.214 | 10.609 | 121.168 | 131.777 | 8.75 | 0.50 | 2.66 | 85 | 79 | 17 | 2,220 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 3.829 | 0.620 | 3.209 | (3.713 | ) | (0.504 | ) | 121.672 | 121.168 | (0.41 | ) | 0.52 | 2.68 | 106 | 91 | 17 | 2,048 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.517 | 0.764 | 2.753 | 1.670 | 4.423 | 117.249 | 121.672 | 3.77 | 0.64 | 2.30 | 140 | 96 | 18 | 2,209 | ||||||||||||||||||||||||||||||||||||||||||||
| Class R2: | 6/30/22 | # | 1.791 | 0.185 | 1.606 | (17.289 | ) | (15.683 | ) | 141.880 | 126.197 | (11.05 | )c | 0.28 | d | 2.44 | d | 106 | c | 48 | c | 31 | 3,891 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 3.229 | 0.367 | 2.862 | (4.701 | ) | (1.839 | ) | 143.719 | 141.880 | (1.28 | ) | 0.26 | 2.02 | 207 | 49 | 33 | 4,649 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 3.741 | 0.427 | 3.314 | 7.152 | 10.466 | 133.253 | 143.719 | 7.85 | 0.31 | 2.38 | 135 | 84 | 36 | 5,179 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.070 | 0.385 | 3.685 | 7.286 | 10.971 | 122.282 | 133.253 | 8.97 | 0.30 | 2.86 | 85 | 79 | 36 | 4,862 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 3.861 | 0.402 | 3.459 | (3.741 | ) | (0.282 | ) | 122.564 | 122.282 | (0.23 | ) | 0.33 | 2.87 | 106 | 91 | 37 | 4,567 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.539 | 0.453 | 3.086 | 1.676 | 4.762 | 117.802 | 122.564 | 4.04 | 0.38 | 2.56 | 140 | 96 | 39 | 4,818 | ||||||||||||||||||||||||||||||||||||||||||||
| Class R3: | 6/30/22 | # | 1.800 | 0.150 | 1.650 | (17.369 | ) | (15.719 | ) | 142.524 | 126.805 | (11.03 | )c | 0.23 | d | 2.49 | d | 106 | c | 48 | c | 44 | 5,521 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 3.242 | 0.296 | 2.946 | (4.720 | ) | (1.774 | ) | 144.298 | 142.524 | (1.23 | ) | 0.21 | 2.07 | 207 | 49 | 46 | 6,513 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 3.756 | 0.346 | 3.410 | 7.176 | 10.586 | 133.712 | 144.298 | 7.92 | 0.25 | 2.44 | 135 | 84 | 50 | 7,152 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 4.083 | 0.317 | 3.766 | 7.308 | 11.074 | 122.638 | 133.712 | 9.03 | 0.25 | 2.91 | 85 | 79 | 51 | 6,817 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 3.872 | 0.352 | 3.520 | (3.753 | ) | (0.233 | ) | 122.871 | 122.638 | (0.19 | ) | 0.29 | 2.91 | 106 | 91 | 52 | 6,329 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 3.546 | 0.360 | 3.186 | 1.681 | 4.867 | 118.004 | 122.871 | 4.12 | 0.30 | 2.63 | 140 | 96 | 53 | 6,527 | ||||||||||||||||||||||||||||||||||||||||||||
| INFLATION-LINKED BOND ACCOUNT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R1: | 6/30/22 | # | 3.219 | 0.156 | 3.063 | (6.818 | ) | (3.755 | ) | 82.149 | 78.394 | (4.57 | )c | 0.39 | d | 7.67 | d | 5 | c | 5 | c | 16 | 1,273 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 4.419 | 0.300 | 4.119 | (0.159 | ) | 3.960 | 78.189 | 82.149 | 5.06 | 0.37 | 5.14 | 24 | 24 | 16 | 1,303 | |||||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 1.271 | 0.338 | 0.933 | 4.714 | 5.647 | 72.542 | 78.189 | 7.78 | 0.45 | 1.24 | 25 | 25 | 15 | 1,182 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 1.660 | 0.329 | 1.331 | 2.944 | 4.275 | 68.267 | 72.542 | 6.27 | 0.46 | 1.88 | 26 | 26 | 14 | 1,042 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 2.105 | 0.307 | 1.798 | (2.292 | ) | (0.494 | ) | 68.761 | 68.267 | (0.72 | ) | 0.45 | 2.63 | 21 | 21 | 14 | 964 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 1.731 | 0.395 | 1.336 | (0.315 | ) | 1.021 | 67.740 | 68.761 | 1.51 | 0.58 | 1.95 | 18 | 18 | 15 | 1,041 | |||||||||||||||||||||||||||||||||||||||||||
| Class R2: | 6/30/22 | # | 3.261 | 0.095 | 3.166 | (6.912 | ) | (3.746 | ) | 83.335 | 79.589 | (4.50 | )c | 0.23 | d | 7.81 | d | 5 | c | 5 | c | 28 | 2,199 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 4.462 | 0.181 | 4.281 | (0.143 | ) | 4.138 | 79.197 | 83.335 | 5.22 | 0.22 | 5.27 | 24 | 24 | 28 | 2,356 | |||||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 1.270 | 0.213 | 1.057 | 4.787 | 5.844 | 73.353 | 79.197 | 7.96 | 0.28 | 1.39 | 25 | 25 | 29 | 2,267 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 1.686 | 0.190 | 1.496 | 2.962 | 4.458 | 68.895 | 73.353 | 6.48 | 0.27 | 2.09 | 26 | 26 | 29 | 2,099 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 2.122 | 0.182 | 1.940 | (2.310 | ) | (0.370 | ) | 69.265 | 68.895 | (0.53 | ) | 0.26 | 2.82 | 21 | 21 | 29 | 2,028 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 1.743 | 0.218 | 1.525 | (0.319 | ) | 1.206 | 68.059 | 69.265 | 1.77 | 0.32 | 2.22 | 18 | 18 | 30 | 2,096 | |||||||||||||||||||||||||||||||||||||||||||
| Class R3: | 6/30/22 | # | 3.279 | 0.072 | 3.207 | (6.949 | ) | (3.742 | ) | 83.714 | 79.972 | (4.47 | )c | 0.18 | d | 7.88 | d | 5 | c | 5 | c | 48 | 3,837 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 4.494 | 0.139 | 4.355 | (0.158 | ) | 4.197 | 79.517 | 83.714 | 5.28 | 0.17 | 5.34 | 24 | 24 | 47 | 3,970 | |||||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 1.274 | 0.168 | 1.106 | 4.805 | 5.911 | 73.606 | 79.517 | 8.03 | 0.22 | 1.44 | 25 | 25 | 45 | 3,590 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 1.694 | 0.153 | 1.541 | 2.970 | 4.511 | 69.095 | 73.606 | 6.53 | 0.21 | 2.14 | 26 | 26 | 45 | 3,308 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 2.125 | 0.154 | 1.971 | (2.313 | ) | (0.342 | ) | 69.437 | 69.095 | (0.49 | ) | 0.22 | 2.86 | 21 | 21 | 46 | 3,171 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 1.746 | 0.165 | 1.581 | (0.320 | ) | 1.261 | 68.176 | 69.437 | 1.85 | 0.24 | 2.29 | 18 | 18 | 46 | 3,214 | |||||||||||||||||||||||||||||||||||||||||||
| 84 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 85 |
| Financial highlights | continued |
College Retirement Equities Fund
| Selected per accumulation unit data | Ratios and supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gain (loss) from investment operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net realized | Ratios to average net assets | Portfolio | Accumulation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| For the period or year ended | Investment income | a | Expenses | a | Net investment income (loss | )a | & unrealized gain (loss on total investments | ) | Net change in accumulation unit value | Accumulation unit value beginning of period | Accumulation unit value end of period | Total return | b | Gross expenses | Net investment income (loss | ) | Portfolio turnover rate | turnover rate excluding mortgage dollar rolls | units outstanding end of period (in millions | ) | Accumulation fund net assets (in millions | )i | ||||||||||||||||||||||||||||||||||||
| SOCIAL CHOICE ACCOUNT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R1: | 6/30/22 | # | $3.723 | $0.642 | $3.081 | $(60.837 | ) | $(57.756 | ) | $343.101 | $285.345 | (16.83 | )%c | 0.41 | %d | 1.99 | %d | 48 | %c | 26 | %c | 9 | $2,433 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 6.484 | 1.289 | 5.195 | 32.701 | 37.896 | 305.205 | 343.101 | 12.42 | 0.40 | 1.59 | 118 | 57 | 8 | 2,841 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 6.129 | 1.279 | 4.850 | 30.887 | 35.737 | 269.468 | 305.205 | 13.26 | 0.47 | 1.79 | 100 | 73 | 9 | 2,601 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 6.789 | 1.210 | 5.579 | 40.254 | 45.833 | 223.635 | 269.468 | 20.50 | 0.49 | 2.24 | 52 | 51 | 9 | 2,416 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 6.291 | 1.102 | 5.189 | (15.749 | ) | (10.560 | ) | 234.195 | 223.635 | (4.51 | ) | 0.47 | 2.21 | 52 | 47 | 9 | 2,104 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 5.627 | 1.327 | 4.300 | 24.249 | 28.549 | 205.646 | 234.195 | 13.88 | 0.60 | 1.95 | 53 | 37 | 10 | 2,426 | ||||||||||||||||||||||||||||||||||||||||||||
| Class R2: | 6/30/22 | # | 3.778 | 0.404 | 3.374 | (61.739 | ) | (58.365 | ) | 348.058 | 289.693 | (16.77 | )c | 0.26 | d | 2.14 | d | 48 | c | 26 | c | 20 | 5,847 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 6.570 | 0.804 | 5.766 | 33.148 | 38.914 | 309.144 | 348.058 | 12.59 | 0.24 | 1.74 | 118 | 57 | 20 | 6,868 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 6.195 | 0.832 | 5.363 | 31.296 | 36.659 | 272.485 | 309.144 | 13.45 | 0.30 | 1.96 | 100 | 73 | 20 | 6,114 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 6.857 | 0.724 | 6.133 | 40.661 | 46.794 | 225.691 | 272.485 | 20.73 | 0.29 | 2.43 | 52 | 51 | 19 | 5,275 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 6.344 | 0.673 | 5.671 | (15.895 | ) | (10.224 | ) | 235.915 | 225.691 | (4.33 | ) | 0.28 | 2.39 | 52 | 47 | 20 | 4,476 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 5.661 | 0.757 | 4.904 | 24.394 | 29.298 | 206.617 | 235.915 | 14.18 | 0.34 | 2.21 | 53 | 37 | 22 | 5,082 | ||||||||||||||||||||||||||||||||||||||||||||
| Class R3: | 6/30/22 | # | 3.800 | 0.319 | 3.481 | (62.032 | ) | (58.551 | ) | 349.640 | 291.089 | (16.75 | )c | 0.20 | d | 2.20 | d | 48 | c | 26 | c | 29 | 8,332 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 6.601 | 0.639 | 5.962 | 33.286 | 39.248 | 310.392 | 349.640 | 12.64 | 0.19 | 1.80 | 118 | 57 | 27 | 9,541 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 6.218 | 0.672 | 5.546 | 31.423 | 36.969 | 273.423 | 310.392 | 13.52 | 0.24 | 2.01 | 100 | 73 | 27 | 8,235 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 6.879 | 0.592 | 6.287 | 40.787 | 47.074 | 226.349 | 273.423 | 20.80 | 0.23 | 2.49 | 52 | 51 | 26 | 7,064 | ||||||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 6.361 | 0.576 | 5.785 | (15.940 | ) | (10.155 | ) | 236.504 | 226.349 | (4.29 | ) | 0.24 | 2.43 | 52 | 47 | 26 | 5,931 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 5.673 | 0.586 | 5.087 | 24.445 | 29.532 | 206.972 | 236.504 | 14.27 | 0.26 | 2.29 | 53 | 37 | 28 | 6,547 | ||||||||||||||||||||||||||||||||||||||||||||
| 86 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 87 |
| Financial highlights | concluded |
| College Retirement Equities Fund |
| Selected per accumulation unit data | Ratios and supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Gain (loss) from investment operations | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net realized | Ratios to average net assets | Accumulation | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net | & unrealized | Net | Accumulation | Accumulation | Net | units | Accumulation | |||||||||||||||||||||||||||||||||||||||||||||||
| For the | investment | gain (loss | ) | change in | unit value | unit value | Expenses net | Investment | outstanding | fund net | ||||||||||||||||||||||||||||||||||||||||||||
| period or year | Investment | income | on total | accumulation | beginning | end of | Total | Gross | of TIAA | Income | end of period | assets | ||||||||||||||||||||||||||||||||||||||||||
| ended | income | a | Expenses | a | (loss | )a | investments | unit value | of period | period | return | b | expenses | withholding | (loss | ) | (in millions | ) | (in millions | )i | ||||||||||||||||||||||||||||||||||
| MONEY MARKET ACCOUNT | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class R1: | 6/30/22 | # | $0.055 | $0.059 | $(0.004 | ) | $0.001 | $(0.003 | ) | $26.343 | $26.340 | (0.01 | )%c | 0.45 | %d | 0.45 | %d | (0.03 | )%d | 63 | $1,667 | |||||||||||||||||||||||||||||||||
| 12/31/21 | 0.019 | 0.019 | 0.000 | 0.000 | 0.000 | 26.343 | 26.343 | 0.00 | 0.38 | 0.07 | 0.00 | 63 | 1,660 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 0.143 | 0.075 | 0.068 | 0.006 | 0.074 | 26.269 | 26.343 | 0.28 | 0.45 | 0.28 | 0.26 | 76 | 2,001 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 0.577 | 0.175 | 0.402 | 0.001 | 0.403 | 25.866 | 26.269 | 1.56 | 0.47 | 0.67 | 1.54 | 74 | 1,936 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 0.474 | 0.206 | 0.268 | 0.002 | 0.270 | 25.596 | 25.866 | 1.05 | 0.45 | 0.80 | 1.04 | 72 | 1,866 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 0.227 | 0.165 | 0.062 | 0.000 | 0.062 | 25.534 | 25.596 | 0.25 | 0.57 | 0.64 | 0.32 | 72 | 1,842 | |||||||||||||||||||||||||||||||||||||||||
| Class R2: | 6/30/22 | # | 0.056 | 0.041 | 0.015 | 0.000 | 0.015 | 26.606 | 26.621 | 0.06 | c | 0.31 | d | 0.31 | d | 0.11 | d | 94 | 2,494 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 0.019 | 0.019 | 0.000 | 0.000 | 0.000 | 26.606 | 26.606 | 0.00 | 0.23 | 0.07 | 0.00 | 94 | 2,513 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 0.141 | 0.058 | 0.083 | 0.011 | 0.094 | 26.512 | 26.606 | 0.35 | 0.28 | 0.22 | 0.31 | 121 | 3,208 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 0.582 | 0.071 | 0.511 | 0.001 | 0.512 | 26.000 | 26.512 | 1.97 | 0.27 | 0.27 | 1.94 | 111 | 2,954 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 0.476 | 0.138 | 0.338 | 0.000 | 0.338 | 25.662 | 26.000 | 1.32 | 0.27 | 0.53 | 1.31 | 114 | 2,970 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 0.227 | 0.116 | 0.111 | 0.002 | 0.113 | 25.549 | 25.662 | 0.44 | 0.31 | 0.45 | 0.58 | 111 | 2,838 | |||||||||||||||||||||||||||||||||||||||||
| Class R3: | 6/30/22 | # | 0.056 | 0.035 | 0.021 | 0.000 | 0.021 | 26.698 | 26.719 | 0.08 | c | 0.26 | d | 0.26 | d | 0.16 | d | 154 | 4,102 | |||||||||||||||||||||||||||||||||||
| 12/31/21 | 0.019 | 0.019 | 0.000 | 0.000 | 0.000 | 26.698 | 26.698 | 0.00 | 0.18 | 0.07 | 0.00 | 152 | 4,066 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/20 | 0.142 | 0.051 | 0.091 | 0.011 | 0.102 | 26.596 | 26.698 | 0.38 | 0.22 | 0.19 | 0.34 | 197 | 5,263 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/19 | 0.583 | 0.057 | 0.526 | 0.001 | 0.527 | 26.069 | 26.596 | 2.02 | 0.22 | 0.22 | 2.00 | 189 | 5,017 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/18 | 0.477 | 0.103 | 0.374 | 0.000 | 0.374 | 25.695 | 26.069 | 1.46 | 0.23 | 0.40 | 1.45 | 189 | 4,927 | |||||||||||||||||||||||||||||||||||||||||
| 12/31/17 | 0.228 | 0.102 | 0.126 | 0.002 | 0.128 | 25.567 | 25.695 | 0.50 | 0.23 | 0.40 | 0.66 | 177 | 4,539 | |||||||||||||||||||||||||||||||||||||||||
| # | Unaudited |
| a | Based on average units outstanding. |
| b | Based on per accumulation unit data. |
| c | The percentages shown for this period are not annualized. |
| d | The percentages shown for this period are annualized. |
| i | Does not include annuity net assets. |
| 88 | 2022 Semiannual Report ■ College Retirement Equities Fund | See notes to financial statements | See notes to financial statements | College Retirement Equities Fund ■ 2022 Semiannual Report | 89 |
Notes to financial statements (unaudited)
College Retirement Equities Fund
Note 1—organization
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 (“SEC”) 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, Core Bond, Inflation-Linked Bond, Social Choice and Money Market Accounts (individually referred to as the “Account” or collectively referred to as the “Accounts”). Effective April 29, 2022, the Bond Market Account changed its name to Core Bond Account.
Note 2—significant accounting policies
The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ from those estimates. The Accounts are investment companies and follow the accounting guidance in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946, Financial Services—Investment Companies. The accumulation unit value (“AUV”) for financial reporting purposes may differ from the AUV for processing transactions. The AUV for financial reporting purposes includes security and participant transactions through the date of the report. Total return is computed based on the AUV used for processing transactions. The following is a summary of the significant accounting policies consistently followed by the Accounts.
Accumulation and Annuity Funds: The Accumulation Fund represents the net assets attributable to participants in the accumulation phase of their investment. The Annuity Fund represents the net assets attributable to the participants currently receiving annuity payments. The net increase or decrease in net assets from investment operations is apportioned between the funds based upon their relative daily net asset values. Annuitants bear the mortality risk under their contracts. Initial annuity payments are calculated based on the value of a participant’s accumulation on the last valuation day before the annuity start date, the income option chosen, an assumed annual investment return, and expense and mortality assumptions. Annuity payments vary after the initial payment based on investment performance, Account expenses, and mortality experience. Death benefits are paid to beneficiaries if the annuitant dies during the accumulation period, or during the annuity period while payments are still due for the remainder of a guaranteed period.
Investments and investment income: Securities transactions are accounted for as of the trade date for financial reporting purposes. Interest income is recorded on an accrual basis and includes accretion of discounts and amortization of premiums. Dividend income is recorded on the ex-dividend date. Foreign dividend income is recorded on the ex-dividend date or as soon as possible after the Accounts
| 90 | 2022 Semiannual Report ■ College Retirement Equities Fund |
determine the existence of a dividend declaration. Securities lending income is comprised of fees earned from borrowers and income earned on cash collateral investments. Realized gains and losses on securities transactions are based upon the specific identification method.
Distributions received on securities that represent a return of capital or capital gains are recorded as a reduction of cost of investments and/or as a realized gain. The Accounts estimate the components of distributions received that may be considered return of capital distributions or capital gain distributions.
Multiclass operations and allocations: Income, expenses, realized gains and losses and unrealized appreciation and depreciation of an Account are allocated on a pro rata basis to each class, except for administrative service fees and distribution fees, which are unique to each class of each Account. Most expenses of CREF can be directly attributed to an Account or class. Expenses that cannot be directly attributed are allocated based upon the average net assets of each Account or class.
Foreign currency transactions and translation: The books and records of the Accounts are maintained in U.S. dollars. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollars at the end of each day. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the respective dates of the transactions.
Net realized foreign currency gains and losses resulting from changes in exchange rates associated with (i) foreign currency, (ii) investments and (iii) derivatives include foreign currency gains and losses between trade date and settlement date of the transactions, foreign currency transactions, and the difference between the amounts of interest and dividends recorded on the books of the Accounts and the amounts actually received and are recognized as a component of “Net realized gain (loss) on total investments” on the Statements of operations, when applicable.
The unrealized gains and losses resulting from changes in foreign currency exchange rates and changes in foreign exchange rates associated with (i) investments and (ii) other assets and liabilities are recognized as a component of “Change in net unrealized appreciation (depreciation) of investments and foreign currency” on the Statements of operations, when applicable. The unrealized gains and losses resulting from changes in foreign exchange rates associated with investments in derivatives are recognized as a component of the respective derivative’s related “Change in unrealized appreciation (depreciation) on total investments and foreign currency” on the Statements of operations, when applicable.
Trustee compensation: The Accounts pay the members of the Board of Trustees (“Board”), all of whom are independent, certain remuneration for their services, plus travel and other expenses. Trustees may elect to participate in a deferred compensation plan and defer all or a portion of their compensation. In addition, trustees participate in a long-term compensation plan. Amounts deferred are retained by the Accounts until paid. Amounts payable to the trustees for compensation are included separately in the
| College Retirement Equities Fund ■ 2022 Semiannual Report | 91 |
Notes to financial statements (unaudited)
accompanying Statements of assets and liabilities. Trustees’ fees, including any deferred and long-term compensation incurred, are reflected in the Statements of operations.
Indemnification: In the normal course of business, each Account enters into contracts that contain a variety of representations and warranties and that provide general indemnities. An Account’s maximum exposure under these arrangements is unknown, as this would involve future claims against the Account that have not yet occurred. Also, under the Accounts’ organizational documents, the trustees and officers of the Accounts are indemnified against certain liabilities that may arise out of their duties to the Accounts. However, based on experience, the Accounts expect the risk of loss due to these warranties and indemnities to be unlikely.
Other matters: The outbreak of the novel coronavirus (“COVID-19”) and subsequent global pandemic began significantly impacting the U.S. and global financial markets and economies during the calendar quarter ended March 31, 2020. The worldwide spread of COVID-19 has created significant uncertainty in the global economy. The duration and extent of COVID-19 over the long term cannot be reasonably estimated at this time. The ultimate impact of COVID-19 and the extent to which COVID-19 impacts the Accounts’ normal course of business, results of operations, investments, and cash flows will depend on future developments, which are highly uncertain and difficult to predict. Management continues to monitor and evaluate this situation.
New accounting pronouncement: In March 2020, FASB issued Accounting Standards Update (“ASU”) 2020-04, Reference Rate Reform: Facilitation of the Effects of Reference Rate Reform on Financial Reporting. The main objective of the new guidance is to provide relief to companies that will be impacted by the expected change in benchmark interest rates, when participating banks will no longer be required to submit London Interbank Offered Rate (LIBOR) quotes by the UK Financial Conduct Authority (FCA). The new guidance allows companies to, provided the only changes to existing contracts are a change to an approved benchmark interest rate, account for modifications as a continuance of the existing contract without additional analysis. For new and existing contracts, the Accounts may elect to apply the amendments as of March 12, 2020 through December 31, 2022. Management has not yet elected to apply the amendments, is continuously evaluating the potential effect a discontinuation of LIBOR could have on the Accounts’ investments and has currently determined that it is unlikely the ASU’s adoption will have a significant impact on the Accounts’ financial statements and various filings.
New rule issuance: In December 2020, the SEC voted to adopt a new rule governing fund valuation practices. New Rule 2a-5 under the 1940 Act establishes requirements for determining fair value in good faith for purposes of the 1940 Act. Rule 2a-5 will permit fund boards to designate certain parties to perform fair value determinations, subject to board oversight and certain other conditions. Rule 2a-5 also defines when market quotations are “readily available” for purposes of Section 2(a)(41) of the 1940 Act, which requires a fund to fair value a security when market quotations are not readily available. The SEC also adopted new Rule 31a-4 under the 1940 Act, which sets forth the recordkeeping requirements associated with fair value
| 92 | 2022 Semiannual Report ■ College Retirement Equities Fund |
continued
determinations. Finally, the SEC is rescinding previously issued guidance on related issues, including the role of a board in determining fair value and the accounting and auditing of fund investments. Rule 2a-5 and Rule 31a-4 became effective on March 8, 2021, with a compliance date of September 8, 2022. The Accounts may voluntarily comply with the rules after the effective date, and in advance of the compliance date, under certain conditions. Management is currently assessing the impact of these provisions on the Accounts’ financial statements.
Note 3—valuation of investments
The Accounts’ investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy that is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management’s assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
| • | Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities. |
| • | Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.). |
| • | Level 3 – Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments). |
A description of the valuation techniques applied to the Accounts’ major classifications of assets and liabilities measured at fair value follows:
Debt securities: Prices of fixed-income securities are provided by an independent pricing service (“pricing service”) approved by the Board. The pricing service establishes a security’s fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, the pricing service may consider information about a security, its issuer or market activity provided by TIAA-CREF Investment Management, LLC (“TCIM”). These securities are generally classified as Level 2.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 93 |
Notes to financial statements (unaudited)
Exchange-traded equity securities, common and preferred stock: Equity securities and exchange-traded funds 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. 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. To the extent these securities are actively traded and that valuation adjustments are not applied, they are categorized as Level 1. If there is no official close of business, then the latest available sale price is utilized. If no sales are reported, then the mean of the latest available bid and asked prices is utilized and the securities are generally classified as Level 2.
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. These foreign securities are generally classified as Level 2.
The Money Market Account: The Money Market Account’s portfolio securities are valued on an amortized cost basis. Money Market investments are generally classified as Level 2.
Investments in registered investment companies: Investments in investment companies are valued at their respective net asset value on the valuation date and are generally classified as Level 1.
Option contracts: Purchased and written options traded 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 and are generally classified as Level 1. Over-the-counter (“OTC”) options are marked-to-market daily based upon a price supplied by a pricing service. OTC options are generally classified as Level 2.
Futures contracts: Futures contracts are valued using the closing settlement price and are generally classified as Level 1.
Forward foreign currency contracts: Forward foreign currency contracts are valued using the prevailing forward exchange rate which is derived from quotes provided by the pricing service using the procedures approved by the Board and are classified as Level 2.
Repurchase agreements: Repurchase agreements are valued at contract amount plus accrued interest, which approximates market value. These securities are generally classified as Level 2.
Swap contracts: Swap contracts are marked-to-market daily based upon a price supplied by a pricing service. Swaps are generally classified as Level 2.
| 94 | 2022 Semiannual Report ■ College Retirement Equities Fund |
continued
Any portfolio security or derivative 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. As a general principle, the fair value of a security would appear to be the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor’s credit characteristics considered relevant. To the extent the inputs are observable and timely, the values would be classified as Level 2; otherwise they would be classified as Level 3.
As of June 30, 2022, 100% of the value of investments in the Money Market Account were valued based on Level 2 inputs.
The following table summarizes the market value of the Accounts’ investments as of June 30, 2022, based on the inputs used to value them (dollar amounts are in thousands):
| Account | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Stock | ||||||||||||||||
| Corporate bonds | $ | — | $ | 57 | $ | — | $ | 57 | ||||||||
| Common stocks | 73,328,170 | 31,377,310 | 6,189 | 104,711,669 | ||||||||||||
| Purchased options* | 44 | — | — | 44 | ||||||||||||
| Rights/Warrants | 6 | 830 | 25 | 861 | ||||||||||||
| Short-term investments | — | 2,489,617 | — | 2,489,617 | ||||||||||||
| Written options* | (4,257 | ) | — | — | (4,257 | ) | ||||||||||
| Futures contracts* | (71,137 | ) | — | — | (71,137 | ) | ||||||||||
| Total | $ | 73,252,826 | $ | 33,867,814 | $ | 6,214 | $ | 107,126,854 | ||||||||
| Global Equities | ||||||||||||||||
| Corporate bonds | $ | — | $ | 15 | $ | — | $ | 15 | ||||||||
| Common stocks | 14,233,304 | 7,220,761 | 308 | 21,454,373 | ||||||||||||
| Rights/Warrants | — | 111 | — | 111 | ||||||||||||
| Short-term investments | — | 341,886 | — | 341,886 | ||||||||||||
| Futures contracts* | (6,467 | ) | — | — | (6,467 | ) | ||||||||||
| Total | $ | 14,226,837 | $ | 7,562,773 | $ | 308 | $ | 21,789,918 | ||||||||
| Growth | ||||||||||||||||
| Common stocks | $ | 25,654,824 | $ | 565,408 | $ | — | $ | 26,220,232 | ||||||||
| Short-term investments | 83,079 | 58,839 | — | 141,918 | ||||||||||||
| Total | $ | 25,737,902 | $ | 624,248 | $ | — | $ | 26,362,150 | ||||||||
| Equity Index | ||||||||||||||||
| Common stocks | $ | 19,384,428 | $ | — | $ | 225 | $ | 19,384,653 | ||||||||
| Short-term investments | 155,626 | 83,739 | — | 239,365 | ||||||||||||
| Futures contracts* | (5,929 | ) | — | — | (5,929 | ) | ||||||||||
| Total | $ | 19,534,125 | $ | 83,739 | $ | 225 | $ | 19,618,089 | ||||||||
| College Retirement Equities Fund ■ 2022 Semiannual Report | 95 |
Notes to financial statements (unaudited)
| Account | Level 1 | Level 2 | Level 3 | Total | ||||||||||||
| Core Bond | ||||||||||||||||
| Bank loan obligations | $ | — | $ | 83,805 | $ | 224 | $ | 84,029 | ||||||||
| Corporate bonds | — | 4,170,093 | 3,843 | 4,173,936 | ||||||||||||
| Government bonds | — | 4,847,196 | 12,171 | 4,859,367 | ||||||||||||
| Structured assets | — | 2,133,104 | 327 | 2,133,431 | ||||||||||||
| Preferred stocks | 6,872 | — | — | 6,872 | ||||||||||||
| Short-term investments | 168,752 | 459,521 | — | 628,273 | ||||||||||||
| Futures contracts* | 510 | — | — | 510 | ||||||||||||
| Forward foreign currency contracts* | — | 4,422 | — | 4,422 | ||||||||||||
| Total | $ | 176,134 | $ | 11,698,141 | $ | 16,565 | $ | 11,890,840 | ||||||||
| Inflation-Linked Bond | ||||||||||||||||
| Bank loan obligations | $ | — | $ | 36,385 | $ | — | $ | 36,385 | ||||||||
| Corporate bonds | — | 118,623 | — | 118,623 | ||||||||||||
| Government bonds | — | 7,110,551 | — | 7,110,551 | ||||||||||||
| Structured assets | — | 195,015 | 2,923 | 197,938 | ||||||||||||
| Short-term investments | 5,091 | 30,650 | — | 35,741 | ||||||||||||
| Futures contracts* | 2,675 | — | — | 2,675 | ||||||||||||
| Total | $ | 7,766 | $ | 7,491,224 | $ | 2,923 | $ | 7,501,913 | ||||||||
| Social Choice | ||||||||||||||||
| Bank loan obligations | $ | — | $ | 30,962 | $ | — | $ | 30,962 | ||||||||
| Corporate bonds | — | 2,650,958 | — | 2,650,958 | ||||||||||||
| Government bonds | — | 3,590,209 | 4,253 | 3,594,462 | ||||||||||||
| Structured assets | — | 825,266 | 2,319 | 827,585 | ||||||||||||
| Common stocks | 7,101,090 | 2,542,898 | 11 | 9,643,999 | ||||||||||||
| Preferred stocks | 51,184 | — | — | 51,184 | ||||||||||||
| Short-term investments | 107,576 | 395,400 | — | 502,976 | ||||||||||||
| Total | $ | 7,259,850 | $ | 10,035,693 | $ | 6,583 | $ | 17,302,126 | ||||||||
| * | Derivative instruments, excluding purchased options, are not reflected in the market value of portfolio investments. |
Note 4—investments
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 repurchase price is recorded as a realized gain or loss.
Repurchase agreements: In connection with transactions in repurchase agreements, it is the Account’s policy that its custodian take possession of the underlying collateral securities, the fair value of which exceeds the principal amount of the repurchase transaction, including accrued interest, at all times. If the counterparty defaults, and the fair value of the collateral declines, realization of the collateral may be delayed or limited.
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continued
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, as amended. The risk of investing in such securities is generally greater than the risk of investing in securities that are widely held and publicly traded.
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 and the liability to return the cash collateral received are reflected in the Statements of assets and liabilities. Non-cash collateral is not disclosed in the Accounts’ Statements of assets and liabilities as it is held by the Agent or by a third-party bank engaged by the Agent as a special “tri-party” custodian on behalf of the Accounts, and the Accounts do not have the ability to sell or re-hypothecate those securities. As of June 30, 2022, securities lending transactions (with the exception of Core Bond Account, Inflation-Linked Bond Account and 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 Core Bond Account all loans from securities lending transactions are continuous, can be recalled at any time, and have no set maturity, with $1,246,400 related to equity securities and $169,315,785 related to fixed income securities. For the Inflation-Linked Bond Account all loans from securities lending transactions are continuous, can be recalled at any time, and have no set maturity, with $4,917,438 related to fixed income securities. 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 $55,728,586 related to fixed income securities and $80,253,748 related to equity securities. Securities lending income recognized by the Accounts consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the Agent. Such income is reflected separately in the Statements of operations. 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.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 97 |
Notes to financial statements (unaudited)
At June 30, 2022, the total value of securities on loan and the total value of collateral received were as follows (dollar amounts are in thousands):
| Account | Aggregate value of securities on loan | Cash collateral received | * | Non-cash collateral received | Total collateral received | |||||||||||
| Stock | $ | 1,557,609 | $ | 1,145,207 | $ | 526,488 | $ | 1,671,695 | ||||||||
| Global Equities | 180,533 | 133,043 | 61,425 | 194,468 | ||||||||||||
| Growth | 79,609 | 83,079 | — | 83,079 | ||||||||||||
| Equity Index | 193,610 | 155,626 | 48,099 | 203,725 | ||||||||||||
| Core Bond | 170,562 | 168,752 | 5,876 | 174,628 | ||||||||||||
| Inflation-Linked Bond | 4,917 | 5,091 | — | 5,091 | ||||||||||||
| Social Choice | 135,982 | 107,576 | 36,120 | 143,696 | ||||||||||||
| * | May include cash and investment of cash collateral. |
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 have extended settlement periods; interest income is not accrued until settlement date. Any securities so purchased are subject to market fluctuation during this period. The Accounts have segregated securities in their portfolios with a current value at least equal to the amount of the when-issued/delayed delivery purchase commitments.
Treasury inflation-protected securities: The Accounts (other than the Money Market Account) may invest in Treasury Inflation-Protected Securities, specially structured bonds in which the principal amount is adjusted periodically to keep pace with inflation, as measured by the U.S. Consumer Price Index. The adjustments for interest income due to inflation or deflation are reflected in interest income in the Statements of operations.
Zero coupon securities: A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.
Purchases and sales: Purchases and sales of securities (other than short-term instruments) for all of the Accounts for the period ended June 30, 2022 were as follows (dollar amounts are in thousands):
| Stock Account | Global Equities Account | Growth Account | Equity Index Account | Core Bond Account | Inflation- Linked Bond Account | Social Choice Account | ||||||||||||||||||||||
| Purchases: | ||||||||||||||||||||||||||||
| Non-U.S. Government | $ | 25,081,977 | $ | 5,914,851 | $ | 7,759,218 | $ | 404,720 | $ | 1,298,245 | $ | 89,516 | $ | 2,528,503 | ||||||||||||||
| U.S. Government | 117,002 | — | — | — | 11,671,050 | 415,074 | 7,136,601 | |||||||||||||||||||||
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continued
| Stock Account | Global Equities Account | Growth Account | Equity Index Account | Core Bond Account | Inflation- Linked Bond Account | Social Choice Account | ||||||||||||||||||||||
| Sales: | ||||||||||||||||||||||||||||
| Non-U.S. Government | $ | 28,558,971 | $ | 6,709,771 | $ | 8,826,567 | $ | 1,139,009 | $ | 2,185,134 | $ | 33,251 | $ | 2,033,119 | ||||||||||||||
| U.S. Government | 117,300 | — | — | — | 11,014,883 | 383,098 | 6,715,910 | |||||||||||||||||||||
Note 5—derivative investments
Each Account (other than the Money Market Account) is authorized to invest in certain 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.
At June 30, 2022, the following Accounts have invested in derivative contracts which are reflected in the Statements of assets and liabilities as follows (dollar amounts are in thousands):
| Asset derivatives | Liabilities derivatives | |||||||||||
| Derivative contract | Location | Fair value amount | Location | Fair value amount | ||||||||
| Stock Account | ||||||||||||
| Equity contracts | Futures contracts* | $ | (71,137 | ) | ||||||||
| Equity contracts | Portfolio investments | $ | 44 | Written options | (4,257 | ) | ||||||
| Global Equities Account | ||||||||||||
| Equity contracts | Futures contracts* | (6,467 | ) | |||||||||
| Equity Index Account | ||||||||||||
| Equity contracts | Futures contracts* | (5,929 | ) | |||||||||
| Core Bond Account | ||||||||||||
| Interest-rate contracts | Futures contracts* | 510 | ||||||||||
| Foreign-exchange contracts | Forward foreign currency contracts | 4,565 | Forward foreign currency contracts | (143 | ) | |||||||
| Inflation-Linked Bond Account | ||||||||||||
| Interest-rate contracts | Futures contracts* | 2,675 | ||||||||||
| * | The fair value presented includes cumulative gain (loss) on open futures contracts; however, the value reflected on the accompanying Statements of assets and liabilities is only the receivable or payable for variation margin on open futures contracts. |
| College Retirement Equities Fund ■ 2022 Semiannual Report | 99 |
Notes to financial statements (unaudited)
For the period ended June 30, 2022, the effect of derivative contracts on the Accounts’ Statements of operations was as follows (dollar amounts are in thousands):
| Derivative contract | Location | Realized gain (loss | ) | Change in unrealized appreciation (depreciation | ) | |||||
| Stock Account | ||||||||||
| Equity contracts | Purchased options | $ | (3,944 | ) | $ | 1,137 | ||||
| Equity contracts | Written options | 1,205 | 460 | |||||||
| Equity contracts | Futures contracts | (101,506 | ) | (82,588 | ) | |||||
| Foreign-exchange contracts | Forward foreign currency contracts | 2,627 | (1,824 | ) | ||||||
| Global Equities Account | ||||||||||
| Equity contracts | Futures contracts | (33,503 | ) | (10,319 | ) | |||||
| Growth Account | ||||||||||
| Equity contracts | Written options | 4,204 | (2,703 | ) | ||||||
| Equity Index Account | ||||||||||
| Equity contracts | Futures contracts | (7,740 | ) | (8,065 | ) | |||||
| Core Bond Account | ||||||||||
| Interest-rate contracts | Futures contracts | 34,453 | 5,129 | |||||||
| Foreign-exchange contracts | Forward foreign currency contracts | 12,130 | 4,197 | |||||||
| Credit contracts | Swap contracts | 773 | (140 | ) | ||||||
| Inflation-Linked Bond Account | ||||||||||
| Interest-rate contracts | Futures contracts | 20,758 | 4,645 | |||||||
| Social Choice Account | ||||||||||
| Foreign-exchange contracts | Forward foreign currency contracts | 826 | (302 | ) | ||||||
Options: Certain Accounts are subject to equity price risk in the normal course of pursuing their investment objectives. To manage the risk, the Accounts may invest in both equity and index options. The Accounts may purchase (buy) or write (sell) put and call options on specific securities (including groups or “baskets” of specific securities), interest rates, stock indices and/or bond indices (each a “financial instrument”). Options can be settled either directly with the counterparty (over the counter) or through a central clearing house (exchange traded). Call and put options give the holder the right, in return for a premium paid, to purchase or sell, respectively, a financial instrument at a specified exercise price at any time during the period of the option. Purchased options are included in the Summary portfolio of investments.
When an Account writes an option, an amount equal to the net premium received (the premium less commission) is recognized as a liability on the Statements of assets and liabilities and is subsequently adjusted to reflect the current value of the written option until the option is exercised or expires or the Account enters into a
| 100 | 2022 Semiannual Report ■ College Retirement Equities Fund |
continued
closing purchase transaction. The changes in the value of options purchased and/or written during the fiscal period are recognized as in unrealized appreciation (depreciation) on the Statements of operations. When an option expires, the premiums received or paid are recognized as realized gains or losses on the Statements of operations. When an option is exercised or a closing purchase transaction is entered into, the difference between the premium and the amount received or paid in a closing transaction is recognized as a realized gain or loss on the Statements of operations.
The market risk associated with purchasing options is limited to the premium paid. The Account, as writer of an option, has no control over whether the underlying instrument may be sold (called) or purchased (put) and as a result bears the risk of an unfavorable change in the market value of the instrument underlying the written option. There is also the risk the Account may not be able to enter into a closing transaction because of an illiquid market.
The average notional amount of option contracts written and option contracts purchased outstanding during the current fiscal period ended June 30, 2022 was as follows (dollar amounts are in thousands):
| Account | Average notional amount of options contracts written outstanding | * | ||
| Stock Account | $ | (3,539 | ) | |
| Growth Account | $ | (1,971 | ) | |
| Account | Average notional amount of options contracts purchased outstanding | * | ||
| Stock Account | $ | 397 | ||
| * | The average notional amount is calculated based on the outstanding notional amount of contracts at the beginning of the current fiscal period and at the end of each fiscal quarter within the current fiscal period. |
Futures contracts: Certain Accounts are subject to equity price and interest-rate risk in the normal course of pursuing their investment objectives. The Accounts use futures contracts to manage exposure to the equity and bond markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs and for cash management purposes to remain highly invested in these markets while minimizing transaction costs.
A futures contract is an agreement between two parties to buy and sell a financial instrument for a set price on a future date. Upon execution of a futures contract, the Fund is obligated to deposit cash or eligible securities, also known as “initial margin,” into an account at its clearing broker equal to a specified percentage of the contract amount. Securities deposited for initial margin, if any, are identified in the Summary Portfolio of investments and cash deposited for initial margin, if any, is reflected on the Statements of assets and liabilities.
| College Retirement Equities Fund ■ 2022 Semiannual Report | 101 |
Notes to financial statements (unaudited)
During the period the futures contract is open, changes in the market value of the contract are recognized as an unrealized gain or loss by “marking-to-market” on a daily basis. The Fund and the clearing broker are obligated to settle monies on a daily basis representing the changes in the value of the contracts. These daily cash settlements are known as “variation margin,” and are recognized on the Statements of assets and liabilities as a receivable or payable for variation margin on futures contracts. When the contract is closed or expired, the Fund records a realized gain or loss equal to the difference between the value of the contract on the closing date and value of the contract when originally entered into. The net realized gain or loss and the change in unrealized appreciation (depreciation) on futures contracts held during the period is included on the Statement of operations.
Risks of investments in futures contracts include the possible adverse movement in the price of the securities or indices underlying the contracts, the possibility that there may not be a liquid secondary market for the contracts and/or that a change in the value of the contract may not correlate with a change in the value of the underlying securities or indices.
The average notional amount of futures contracts outstanding during the current fiscal period ended June 30, 2022 was as follows (dollar amounts are in thousands):
| Account | Average notional amount of futures contracts outstanding | * | ||
| Stock Account | $ | 913,664 | ||
| Global Equities Account | 205,699 | |||
| Equity Index Account | 82,014 | |||
| Core Bond Account | (147,765 | ) | ||
| Inflation-Linked Bond Account | (109,615 | ) | ||
| * | The average notional amount is calculated based on the absolute aggregate notional amount of contracts at the beginning of the current fiscal period and at the end of each fiscal quarter within the current fiscal period. |
Forward foreign currency contracts: Certain Accounts may use forward foreign currency contracts (“forward contracts”) to hedge portfolio currency risk and to facilitate transactions in securities denominated in foreign currencies in the normal course of pursuing their investment objectives.
A forward contract is an agreement between two parties to purchase or sell a specified quantity of a currency at or before a specified date in the future at a specified price. Non-deliverable forward foreign currency exchange contracts are settled with the counterparty in cash without the delivery of foreign currency. Forward contracts are typically traded in the over-the-counter (“OTC”) markets and all details of the contract are negotiated between the counterparties to the agreement. Forward contracts are marked-to-market daily and any resulting unrealized gains or losses are reflected as appreciation or depreciation on the Statements of assets and liabilities. The Accounts realize gains and losses at the time the forward contracts are closed and are included on the Statement of operations. Risks may arise upon entering into
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continued
forward contracts from unanticipated movements in the value of a foreign currency relative to the U.S. dollar; and that losses may exceed amounts recognized on the Statements of assets and liabilities.
The average notional amount of forward contracts outstanding during the current fiscal period ended June 30, 2022 was as follows:
| Account | Average notional amount of foreign forward currency contracts outstanding | * | ||
| Stock Account | $ | 179,188 | ||
| Core Bond Account | 205,560 | |||
| Social Choice Account | 4,140 | |||
| * | The average notional amount is calculated based on the outstanding notional amount of contracts at the beginning of the current fiscal period and at the end of each fiscal quarter within the current fiscal period. |
Credit default swap contracts: Certain Accounts are subject to credit risk in the normal course of pursuing their investment objectives. The Accounts (other than the Money Market Fund) invest in credit default swaps to hedge or manage the risks associated with assets held in the Funds and/or to facilitate the implementation of portfolio strategies to seek to increase the total return.
Credit default swap contracts involve one party making a stream of payments (buyer of protection) to another party (seller of protection) in exchange for the right to receive a specified return if/when there is a credit event by a third party. Credit events are agreement specific but may include bankruptcy, failure to pay, or restructuring. When an Account has bought (sold) protection in a credit default swap upon occurrence of a specific credit event with respect to the underlying referenced entity, the Account will either (i) receive (deliver) that security, or an equivalent amount of cash, from the counterparty in exchange for receipt (payment) of the notional amount to the counterparty, or (ii) receive (pay) a net settlement amount of the credit default swap contract less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Payments paid (received) at the beginning of the measurement period are reflected as swap premiums paid (received) on the Statement of assets and liabilities, when applicable. Credit default swaps are “marked-to-market” on a daily basis to reflect the value of the swap agreement at the end of each trading day and are recognized as unrealized appreciation (depreciation) on the Statement of operations.
Credit default swaps can be settled either directly with the counterparty (“OTC”) or through a central clearinghouse (“centrally cleared”). For OTC swaps, the daily change in the market value of the swap contract, along with any daily interest fees accrued, are recognized as unrealized appreciation (depreciation) on credit default swaps on the Statement of assets and liabilities.
Upon the execution of a centrally cleared swap, an Account is obligated to deposit cash or eligible securities, also known as “initial margin,” into an account at its clearing broker equal to a specified percentage of the contract amount. Securities
| College Retirement Equities Fund ■ 2022 Semiannual Report | 103 |
Notes to financial statements (unaudited)
deposited for initial margin, if any, are identified in the Summary Portfolio of Investments and cash deposited for initial margin, if any, is reflected on the Statement of assets and liabilities. The Account and the clearing broker are obligated to settle monies on a daily basis representing the changes in the value of the swap contracts. These daily cash settlements are known as “variation margin” and are recognized on the Statement of assets and liabilities as a receivable or payable for variation margin on credit default swaps.
The difference between the value of the security received (delivered) and the notional amount delivered (received) as well as payments received or made as a result of a credit event or termination of a contract are recognized as realized gains or losses on the Statement of operations.
The maximum potential amount of future payments the Account could incur as a buyer or seller of protection in a credit default swap contract is limited to the notional amount of the contract. The maximum potential amount would be offset by the recovery value, if any, of the respective referenced entity.
The average notional amount of credit default swap contracts outstanding during the current fiscal period ended June 30, 2022 was as follows:
| Account | Average notional amount of swap contracts outstanding | * | ||
| Core Bond Account | $ | 70,833 | ||
| * | The average notional amount is calculated based on the outstanding notional amount of contracts at the beginning of the current fiscal period and at the end of each fiscal quarter within the current fiscal period. |
Note 6—income tax information
CREF is taxed as a life insurance company under Subchapter L of the Internal Revenue Code. CREF should incur no federal income tax liability. Under the rules of taxation applicable to life insurance companies, CREF’s Accumulation and Annuity Funds for participants will generally be treated as life insurance reserves; therefore, any increase in such reserves will be deductible.
CREF files income tax returns in U.S. federal and applicable state jurisdictions. CREF’s federal income tax return is generally subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional period of time depending on the jurisdiction. Management has analyzed the Accounts’ tax positions taken for all open tax years and has concluded that no provision for income tax is required in the Accounts’ financial statements.
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continued
As of the end of the reporting period, the aggregate cost and the net unrealized appreciation/(depreciation) of all investments for federal income tax purposes was as follows (dollar amounts are in thousands):
| Account | Tax Cost | Gross unrealized appreciation | Gross unrealized (depreciation | ) | Net unrealized appreciation (depreciation | ) | ||||||||||
| Stock | $ | 110,421,647 | $ | 10,354,594 | $ | (13,645,461 | ) | $ | (3,290,867 | ) | ||||||
| Global Equities | 21,358,614 | 2,648,853 | (2,217,549 | ) | 431,304 | |||||||||||
| Growth | 29,232,539 | 1,946,192 | (4,816,581 | ) | (2,870,389 | ) | ||||||||||
| Equity Index | 8,091,661 | 12,351,288 | (824,860 | ) | 11,526,428 | |||||||||||
| Core Bond | 12,995,640 | 21,640 | (1,126,440 | ) | (1,104,800 | ) | ||||||||||
| Inflation-Linked Bond | 7,664,890 | 98,928 | (261,905 | ) | (162,977 | ) | ||||||||||
| Social Choice | 17,084,289 | 1,828,580 | (1,610,743 | ) | 217,837 | |||||||||||
For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as up-front fees or premiums exchanged on derivatives and any amounts unrealized for income statement reporting but realized income and/or capital gains for tax reporting, if applicable.
Note 7—investment adviser and other transactions with affiliates
Investment advisory services for the Accounts are provided by TCIM in accordance with an Investment Management Services Agreement. TCIM is a registered investment adviser and a wholly owned subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”), a companion organization of CREF. Investment management expenses generally include investment management, portfolio accounting and custodial services and are the same across all classes of an Account.
Administrative services are provided to the Accounts by TIAA, pursuant to an Administrative Services Agreement with CREF. Distribution functions are provided to the Accounts by TIAA-CREF Individual & Institutional Services, LLC (“Services”), a wholly owned subsidiary of TIAA, pursuant to a Principal Underwriting and Distribution Services Agreement with CREF and the Rule 12b-1 plan. Participants invested in a particular CREF Account will be subject to different administrative and distribution expenses depending upon the class of the Account they own.
TIAA charges a mortality and expense charge of 0.005% to guarantee that CREF participants transferring Accounts to TIAA for the immediate purchase of lifetime payout annuities will not be charged more than the rate stipulated in the CREF contract. This charge is the same across all Accounts and classes.
The services provided by TCIM, Services, and TIAA are provided to CREF at cost, and CREF also reimburses TCIM, Services, and TIAA for certain third party expenses and trustee fees paid on its behalf. Payments from the CREF Accounts are made on a daily basis according to formulas established each year with the objective of keeping
| College Retirement Equities Fund ■ 2022 Semiannual Report | 105 |
Notes to financial statements (unaudited)
the estimated expenses as close as possible to each Account’s actual expenses. Any differences between actual expenses and the estimated expenses remitted are adjusted.
As of June 30, 2022, the following table represents the effective expense deductions as an annual percentage of average daily net assets to approximate the costs that CREF incurred:
| Investment management fee | Administrative fee | Distribution fee | ||||||||||||||||||||||||||
| Account | All classes | Class R1 | Class R2 | Class R3 | Class R1 | Class R2 | Class R3 | |||||||||||||||||||||
| Stock | 0.090 | % | 0.265 | % | 0.156 | % | 0.117 | % | 0.099 | % | 0.050 | % | 0.034 | % | ||||||||||||||
| Global Equities | 0.073 | 0.264 | 0.156 | 0.117 | 0.099 | 0.050 | 0.034 | |||||||||||||||||||||
| Growth | 0.049 | 0.265 | 0.156 | 0.117 | 0.099 | 0.050 | 0.034 | |||||||||||||||||||||
| Equity Index | 0.011 | 0.264 | 0.156 | 0.117 | 0.099 | 0.050 | 0.034 | |||||||||||||||||||||
| Core Bond | 0.071 | 0.265 | 0.156 | 0.117 | 0.099 | 0.050 | 0.034 | |||||||||||||||||||||
| Inflation-Linked Bond | 0.022 | 0.264 | 0.155 | 0.116 | 0.099 | 0.050 | 0.035 | |||||||||||||||||||||
| Social Choice | 0.045 | 0.265 | 0.156 | 0.116 | 0.099 | 0.050 | 0.035 | |||||||||||||||||||||
| Money Market | 0.036 | 0.264 | 0.155 | 0.116 | 0.099 | 0.050 | 0.035 | |||||||||||||||||||||
From May 12, 2020 to December 31, 2021, TIAA agreed to withhold (“waive”) a portion of the Rule 12b-1 distribution and/or administrative expenses for each class of the Money Market Account when a class’s yield was less than zero, subject to a maximum aggregate limit of $25 million for all amounts waived. TIAA may, for a period of three years after the date an amount was waived, recover from the Account a portion of the amounts waived at such time as the class’s daily yield would be positive and, in such event, the amount of recovery on any day will be approximately 25% of the class’s yield (net of all other expenses) on that day. For the period ended June 30, 2022, TIAA recovered previously waived expenses from the Account of $383,896 for Class R1, $786,993 for Class R2 and $1,449,943 for Class R3. As of June 30, 2022, the cumulative amount of expenses waived subject to recovery is $8,762,596 for Class R1, $5,854,629 for Class R2 and $5,520,460 for Class R3. The amounts waived and recovered during the current period are disclosed on the Statements of operations.
Amounts owed to Account affiliates for payment of Account expenses, payments for units purchased, and receipt for units sold are disclosed as due to/from affiliates on the Statements of assets and liabilities. Account expenses owed to affiliates are reflected in the Statements of operations.
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The Accounts may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Board, pursuant to the 1940 Act. These transactions are effected at market rates without incurring broker commissions.
For the period ended June 30, 2022, the Accounts engaged in the following security transactions with affiliated entities (dollar amounts are in thousands):
| Account | Purchases | Sales | Realized gain (loss | ) | ||||||||
| Stock | $ | 586,600 | $ | 671,932 | $ | 205,931 | ||||||
| Global Equities | 423,509 | 495,506 | 150,516 | |||||||||
| Growth | 28,533 | 132,783 | 28,926 | |||||||||
| Equity Index | — | 85,442 | 70,423 | |||||||||
| Inflation-Linked | 5,088 | — | — | |||||||||
| Social Choice | 6,699 | 29,666 | 12,884 | |||||||||
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):
| Issue | Value at 12/31/21 | Purchases cost | Sales proceeds | Realized gain (loss | ) | Spin-off | Change in unrealized appreciation | ) | Dividend income | Shares at 6/30/22 | Value at 6/30/22 | |||||||||||||||||||||||||
| Stock Account | ||||||||||||||||||||||||||||||||||||
| Common Stock | ||||||||||||||||||||||||||||||||||||
| Consumer Services | ||||||||||||||||||||||||||||||||||||
| Arcos Dorados Holdings, Ince | $ | 42,032 | $ | 17,496 | $ | 8,926 | $ | (5,890 | ) | $ | — | $ | 9,138 | $ | 639 | 7,990 | $ | 53,850 | ||||||||||||||||||
| Media & Entertainment | ||||||||||||||||||||||||||||||||||||
| iClick Interactive Asia Group Ltd (ADR)* | 26,196 | — | 1,981 | (15,152 | ) | — | (5,967 | ) | — | 4,608 | 3,096 | |||||||||||||||||||||||||
| HUYA, Inc*,e | 30,682 | 57 | 3,122 | (9,021 | ) | — | (3,724 | ) | — | — | ‡ | — | ‡ | |||||||||||||||||||||||
| Pharmaceuticals, Biotechnology & Life Sciences | ||||||||||||||||||||||||||||||||||||
| Altimmune, Inc* | — | § | 6,529 | 1,310 | (1,246 | ) | 6,926 | — | — | ‡ | — | ‡ | ||||||||||||||||||||||||
| Retailing | ||||||||||||||||||||||||||||||||||||
| Lojas Americanas S.A. (Preference) | 68,436 | — | 6,415 | (5,508 | ) | (88,184 | ) | 31,671 | — | — | ‡ | — | ‡ | |||||||||||||||||||||||
| Matahari Department Store Tbk PT | 45,527 | 447 | 34,020 | 21,050 | — | (18,187 | ) | 855 | — | ‡ | — | ‡ | ||||||||||||||||||||||||
| Total | $ | 212,873 | $ | 24,529 | $ | 55,774 | $ | (15,767 | ) | $ | (88,184 | ) | $ | 19,857 | $ | 1,494 | 12,598 | $ | 56,946 | |||||||||||||||||
| * | Non-income producing |
| § | At December 31, 2021, the issuer was not an affiliated company of the Account. |
| ‡ | At June 30, 2022, the issuer was not an affiliated company of the Account. |
| e | Security on loan |
| College Retirement Equities Fund ■ 2022 Semiannual Report | 107 |
| Notes to financial statements (unaudited) | concluded |
Note 8—inter-fund lending program
Pursuant to an exemptive order issued by the SEC, the Accounts may participate in an inter-fund lending program. This program allows certain Accounts to lend cash to and/or borrow cash from other Accounts or certain other affiliated registered investment companies for temporary purposes, (e.g., to satisfy redemption requests or to cover unanticipated cash shortfalls). The program is subject to a number of conditions, including the requirement that no Account may borrow or lend money under the program unless it receives a more favorable interest rate than is available from a bank or other financial institution for a comparable transaction. In addition, each Account may participate in the program only if its participation is consistent with the Account’s investment policies and limitations and authorized by its portfolio manager(s). During the period ended June 30, 2022, there were no inter-fund borrowing or lending transactions.
Note 9—line of credit
The Accounts (other than the Money Market Account) participate in a $1 billion unsecured revolving credit facility that can be used for temporary purposes, including, without limitation, the funding of participant withdrawals. The current facility was entered into on June 14, 2022 expiring on June 13, 2023, replacing the previous facility, which expired June 2022. Certain affiliated accounts and mutual funds, each of which is managed by TCIM, or an affiliate of TCIM, also participate in this facility. An annual commitment fee for the credit facility is borne by the participating accounts and mutual funds on a pro rata basis. Interest associated with any borrowing under the facility is charged to the borrowing accounts or mutual funds at a specified rate of interest. The Accounts are not liable for borrowings under the facility by other affiliated accounts or mutual funds. For the period ended June 30, 2022, there were no borrowings under this credit facility by the Accounts.
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Approval of investment management agreement (unaudited)
Board renewal of the investment management agreement for the College Retirement Equities Fund
The Board of Trustees (the “Board” or the “Trustees”) of the College Retirement Equities Fund (“CREF”) determines whether to initially approve and periodically renew the investment management agreement (the “Agreement”) between TIAA-CREF Investment Management, LLC (“TCIM”) and CREF on behalf of each of its accounts (the “Accounts”). Under the Agreement, TCIM is responsible for providing investment advisory services to each Account and overseeing the everyday operations and other service providers of CREF. Below is a summary of the process the Board undertook related to its most recent renewal of the Agreement.
Most investment companies that are registered under the Investment Company Act of 1940, as amended (the “1940 Act”), enter into investment management agreements that are subject to Section 15(c) of the 1940 Act. This provision provides, in part, that, after an initial period of up to two years, the investment management agreement will remain in effect only if a fund’s board, including a majority of those trustees who are independent trustees because they are not “interested persons” of the fund, as that term is defined in the 1940 Act, annually renews the agreement. The Agreement is not subject to this requirement due to its unique “at-cost” structure under which TCIM provides services to CREF on an at-cost basis. Nevertheless, the Board determined that it would conduct an annual review of the Agreement, as described below, in a manner generally consistent with relevant 1940 Act requirements. None of the Trustees is an interested person of CREF. Rather, they are all deemed to be independent Trustees.
Overview of the renewal process
The Board held a virtual meeting via videoconference on March 11, 2022, in order to consider the annual renewal of the Agreement with respect to each applicable Account using the process established by the Board described further below.
As part of the Board’s established process, the Board delegated certain tasks to its Operations Committee. Among these tasks, the Operations Committee or certain of its designated members worked with TCIM, other Board members and legal counsel to the Trustees to develop guidance and specific requests relating to the types of information to be provided to the Board in connection with the proposed contract renewals.
Among other matters, the Operations Committee or certain of its designated members, following consultations with TCIM’s representatives, other Board members, legal counsel to the Trustees and legal counsel to TCIM and CREF, confirmed or established certain guidance regarding the preparation of reports to be provided to the Board with respect to each Account by the Board Reporting and Compliance unit of Broadridge Financial Solutions, Inc. (“Broadridge”), using data from Lipper, Inc., an independent provider of investment company data. The Operations Committee considered that Broadridge is widely recognized as a leading
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Approval of investment management agreement (unaudited)
provider of comparative analyses used by independent directors and trustees of investment companies during their advisory contract review processes.
Based on guidance provided by the Operations Committee or certain of its designated members on behalf of the Board, Broadridge produced, among other information, comparative performance and expense data for each Account, including data relating to each Fund’s actual expenses, total expense ratio, short-term and long-term investment performance, brokerage commission costs and portfolio turnover rate (as applicable). Broadridge compared this data, as relevant, for each Fund against a universe of investment companies (except for brokerage commission costs) and against a more selective peer group of mutual funds with similar investment objectives and strategies that underlie variable insurance products, each of which was selected by Broadridge, and also compared the performance of each Account against one or more appropriate broad-based indices. In each case, Broadridge summarized, and the Board considered, the methodologies Broadridge employed to provide the data contained in its reports. In addition, Broadridge represented to the Board that its reports were designed specifically to provide the Board with the fee, expense and performance information that is necessary to help the Board satisfy its oversight and review duties. Broadridge also represented that the purpose of its reports is to provide an objective view of each Account’s relative position regarding the level of fees, expenses and performance against a competitive peer group and universe (as applicable) selected by Broadridge (and not TCIM or the Board). The Board considered the propriety of each Account’s applicable peer group as selected by Broadridge and use of Class R3 as the base class for comparison purposes.
Legal counsel for the Trustees also requested on behalf of the Board, and TCIM provided, information that was designed to assist the Board in its consideration of whether to renew the Agreement for each Account. In addition to the data provided by Broadridge as described above, this information included, but was not limited to, the following: (1) further information relating to each Account’s investment performance and a narrative analysis of the performance of each Account that had underperformed certain Board-specified criteria, together with an explanation of any events that had a material impact on the Account’s performance during that period; (2) a description of any expenses that were incurred by TCIM with respect to its services under the Agreement but not reimbursed by the Accounts during the prior year and the extent to which such arrangements would be continued or modified in the coming year; (3) a comparison of each Account’s actual expenses and performance to other accounts with comparable strategies managed by TCIM or certain of its affiliates; (4) any “fall-out” benefits that accrued or were identified as reasonably likely to accrue to TCIM or its affiliates due to their relationship with the Accounts in addition to the Accounts’ direct payments to TCIM pursuant to the Agreement; (5) information regarding TCIM’s financial resources, senior professional personnel, overall staffing levels, portfolio manager compensation arrangements, capacity to manage the Accounts at current and foreseeable asset levels, insurance coverage, portfolio trading, soft dollar usage and best execution practices, and any actual and potential conflicts of interest identified by TCIM in connection with
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continued
rendering services to the Accounts; (6) a copy of the Agreement and certain related agreements between the Accounts and affiliates of TCIM; (7) a copy of TCIM’s Form ADV as filed with the Securities and Exchange Commission (which was presented only to legal counsel for the Trustees); and (8) draft narrative explanations to be included in the shareholder reports of reasons why the Board should renew the Agreement. The Trustees were also provided with performance ratings of Morningstar, Inc. (“Morningstar”), which is a widely recognized mutual fund ranking service. In addition, the Board received information from management on the continued impact of the COVID-19 pandemic and certain geopolitical events on the Teachers Insurance and Annuity Association of America (“TIAA”) enterprise’s operations generally and on the Accounts’ operations and performance.
On March 3, 2022, the Board held a virtual meeting via videoconference with legal counsel to the Trustees to discuss TCIM’s materials, which led to the Trustees providing additional questions to, and requesting additional information from, TCIM. Subsequently, at the March 11, 2022 meeting, the Trustees were given the opportunity to, and did, ask additional questions and they discussed responses from TCIM to the Board’s follow-up questions and requests presented by the Board after its initial review of the information described above.
In considering whether to renew the Agreement with respect to each Account, the Board considered various factors, including: (1) the nature, extent and quality of services provided or to be provided by TCIM to each Account; (2) the Account’s investment performance; (3) the costs of the services provided to the Account and CREF’s at-cost expense structure; (4) fees charged to comparable mutual funds by other advisers; (5) the extent to which economies of scale have been realized or are anticipated to be realized as the Account grows; (6) whether the estimated expenses set forth in the Agreement reflect any such economies of scale for the benefit of Account investors; (7) comparisons, if applicable, of the services provided by TCIM and its affiliate, Teachers Advisors, LLC (“Advisors”), to, and the actual expenses and performance of, the Account to other clients to which TCIM and Advisors provides comparable services; and (8) any other benefits identified by TCIM derived or anticipated to be derived by TCIM or its affiliates from their relationship with the Account. As a general matter, the Board considered these factors, and any other factors deemed relevant by the Trustees, in their totality, and no single factor was identified as being the determining factor in deciding whether to renew the Agreement.
In addition to the March 11, 2022 meeting that included TCIM personnel, the Trustees met in executive sessions, at which no representatives of TCIM were present, to discuss the proposed renewal of the Agreement for each Account. The Board also received and considered information from its legal counsel as to certain relevant guidance that relates to the renewal process and certain other legal authorities.
While the contract renewal process included a series of discussions and meetings leading up to the March 11, 2022 meeting, the oversight and evaluation of TCIM’s services to the Accounts by the Board and its Committees is an ongoing process.
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Approval of investment management agreement (unaudited)
The Board, as well as its Committees, considered reports on various investment and operational topics that had been identified by the Board or its Committees for review in the year since the last annual renewal process. Further, at their regularly scheduled meetings, the Board and its Investment Committee and its other Committees receive and consider, among other matters, information regarding the performance of the Accounts. Thus, in reaching its decisions regarding the renewal of the Agreement for each Account, the Board took into account the information described herein and other information provided to the Board and its Committees throughout the year.
The Board received and considered both CREF-level and Account-specific information, but made its renewal determinations on an Account-by-Account basis. In deciding whether to renew the Agreement for each Account, each Trustee may have accorded different weight to different factors and, thus, may have had a different basis for his or her ultimate decision to vote to renew the Agreement for each Account. At its meeting on March 11, 2022, all Board members voted unanimously to renew the Agreement for each Account. Set forth below is a summary of the primary factors the Board considered with respect to each Account.
The nature, extent and quality of services
The Board considered the level and depth of knowledge of TCIM, including the professional experience and qualifications of its personnel. The Board also considered that TCIM is an experienced investment adviser that has managed the Accounts since their operations commenced. Investment professionals at TCIM’s affiliate, Advisors, also manage various funds and accounts of the TIAA-CREF Funds, the TIAA-CREF Life Funds and TIAA Separate Account VA-1, as well as advise and sub-advise other investment companies and vehicles. Under the Agreement, TCIM is responsible for, among other duties: managing the assets of the Accounts, including conducting research, identifying investments and placing orders to buy and sell securities for the Accounts’ investment portfolios; active daily monitoring of the Accounts’ investment portfolios; reporting on the investment performance and other metrics of the Accounts to the Board on a regular basis; responding to Account flows; and compliance monitoring. The Board considered that TCIM has carried out these responsibilities in a competent and professional manner. The Board also considered that TCIM has committed significant resources to supporting the Accounts. It also considered TCIM’s compliance program and resources and its compliance record with respect to the Accounts.
The Board also considered, among other factors, the performance of each Account, as discussed below. In addition, the Board considered the nature and quality of non-portfolio management services provided by TCIM and its affiliates. In this regard, the Board considered its ongoing review of the performance of certain affiliated and unaffiliated service providers, including the quality of services provided by those firms and TCIM’s oversight of those service providers and the outsourcing of certain services to other firms.
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During its review, the Board noted its ongoing review of the level of personnel and other resources available to TCIM to provide portfolio management and other services to the Accounts, including the impact of recent and anticipated regulatory requirements and operational changes on such resources, so as to assess the adequacy of the resources devoted to these services. Based on all factors considered, the Board concluded that the nature, extent, and quality of services provided by TCIM to each Account under the Agreement was reasonable.
Investment performance
The Board considered the investment performance of each Account, over the periods indicated in the Account-by-Account synopsis below. The Board considered each Account’s performance as compared to its peer group and peer universe (as applicable) and its benchmark index or, in circumstances where an Account’s peer group or peer universe was not viewed as a representative basis for comparison, other comparative information deemed relevant by management and/or the Board. The Board also discussed the three-year performance of the Equity Index Account before any reductions for fees and expenses. In this analysis, the Board considered the impact of net asset value rounding and the effects of fair valuation, foreign exchange rates, effective tax rates, securities lending and class action litigation, as applicable on the Equity Index Account’s performance as compared to the performance of its benchmark index. For details regarding each Account’s performance, see the Account-by-Account synopsis below.
The Board considered, in those cases in which an Account had performed materially differently from its Broadridge peers or benchmark based on a Board-established threshold, the factors identified by TCIM that contributed to such difference and any remedial measures being undertaken by TCIM. Thus, the Board concluded that, under the totality of circumstances considered, the investment performance of each Account was reasonable or that appropriate actions had been or were being implemented.
Cost and expenses
The Board considered the amounts charged by TCIM to each Account in 2021 and the estimated amounts to be charged by TCIM to each Account in 2022 (for the period April 29, 2022 – April 30, 2023). This included investment advisory costs paid to TCIM, expressed in dollar terms and as a percentage of assets, as well as a reconciliation and analysis of those expenses. The Board considered that TCIM charges expenses “at cost” and these charges are adjusted at least quarterly to reflect the actual expenses incurred with respect to each Account during the most recent quarter. The Board considered the rationale for TCIM’s anticipated costs in providing services to CREF and considered whether these anticipated costs are reasonable in relation to the nature and quality of services provided by TCIM. The Board also noted the termination of TIAA’s withholding of certain expenses for the CREF Money Market Account to maintain a non-negative yield on December 31, 2021. The Board noted that, because TCIM provides its services on an at-cost basis under the arrangement outlined in the Agreement, there was no profit or loss data for the Board to consider.
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Approval of investment management agreement (unaudited)
Fees charged by other advisers
The Board considered comparative information regarding each Account’s actual expenses and the effective management fee rates paid by similar mutual funds that underlie variable insurance products to other advisers, as analyzed by Broadridge and reflected in the Account-by-Account synopsis below. The Board determined that the effective management fee rate charged to an Account under the Agreement typically was lower than the management fee rates charged to many or most other comparable mutual funds that underlie variable insurance products. In this regard, the Board also considered the inherent limitations of such comparisons in light of uncertainty as to how the fees of such similar mutual funds are set and potentially material differences between an Account and its comparable mutual funds that underlie variable insurance products. For example, most similar mutual funds are offered only through variable insurance products that also carry additional fees and expenses, whereas the Accounts bear certain of these expenses themselves. Another limitation noted by the Board was Broadridge’s treatment of all fund fee waivers, regardless of their type, as management fee waivers, which could materially impact how the Accounts’ effective management fee rates compare to those of similar mutual funds that underlie variable insurance products. Based on all factors considered, the Board concluded that the effective management fee rates under the Agreement with respect to each Account were reasonable in relation to those charged by appropriate groups of comparable mutual funds that underlie variable insurance products.
Economies of scale
The Board considered that certain economies of scale are already integrated into each Account’s cost structure due to the at-cost expense arrangements pursuant to which TCIM renders investment advisory services to each Account. The Board also considered that, in certain circumstances, an increase in CREF assets can result in additional expenses being allocated to CREF pursuant to the cost allocation methodologies that are used to calculate payments to be made by CREF pursuant to the at-cost expense arrangements.
Fee and performance comparisons with other TCIM and Advisors clients
The Board considered that TCIM and its affiliate, Advisors, provide investment management services to other investment companies, including mutual funds, foreign funds (UCITS), and separately managed accounts that may have similar investment strategies as certain of the Accounts. The Board also considered TCIM’s comments that, in the future, Advisors may manage client assets through additional funds and accounts with similar investment strategies. The Board also considered TCIM’s and Advisors’ representation that, while the management fee rates charged to the Accounts may differ from the management fee rates chargeable to these other funds and other accounts, this may be due in part to the fact that these other funds and
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accounts may: (1) be offered through products that charge additional fees to their investors; (2) be offered in different types of markets; (3) be provided with different types or levels of services; (4) have different regulatory burdens; (5) target different investors; and/or (6) be packaged with other products. The Board concluded that these factors, among others, could reasonably explain different management fee rate schedules.
Other benefits
The Board also considered additional “fall-out benefits” to TCIM and its affiliates arising from the Agreement. Such benefits include, among others, other fees paid by the Accounts to TCIM’s affiliates for other services, such as distribution and administration, and investment-related benefits, such as economies of scale to the extent the Accounts share investment resources and/or personnel with other clients of TCIM, use of research obtained through the Accounts’ use of soft dollar to manage the assets of other clients and the ability to incubate strategies within one or more Accounts that could be subsequently utilized to manage other non-Account products. TCIM and its affiliates may also benefit from the level of business and relationships the Accounts have with certain service providers. Also, TCIM and its affiliates may benefit from their relationship with the Accounts to the extent that this relationship results in potential investors viewing TIAA, of which TCIM is an indirect, wholly-owned subsidiary, as a leading retirement plan provider in the academic and non-profit markets and as a single source for all their financial service needs. The Board concluded that other benefits to TCIM and its affiliates arising from the Agreement were reasonable in light of various relevant factors.
Account-by-account synopsis of factors
The Board considered the following specific factors (among others) in connection with its determination to renew the Agreement with respect to each Account. If an Account is described in the following discussions as being in the “1st” quintile, it is in the best of five groups (that is, the group has the best performance or the lowest expenses, as the case may be). References below to quintiles are based on data provided to the Board in the reports prepared by Broadridge. The specific expense and performance factors outlined below are based on the Class R3 units of each Account. Because Class R3 generally has lower non-management expenses than the other classes of these Accounts, the expenses and performance of these other classes will differ from the expenses and performance shown for Class R3. Except as otherwise noted, all time periods referenced below are ended December 31, 2021. Under the Morningstar rating system, an Overall Morningstar Rating of 5 stars is the highest (best) rating category and 1 star is the lowest (worst) rating category. The Morningstar data is as of December 31, 2021.
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Approval of investment management agreement (unaudited)
CREF Stock Account
| • | The Account is operated as an at-cost arrangement, with no profits to TCIM. The Account’s pro forma investment management costs are expected to be 0.080% of average daily net assets for the year ending April 30, 2023. The Account’s actual management costs for the year ended December 31, 2021 equaled 0.083% of average daily net assets, which was used by Broadridge for comparative purposes. |
| • | The Account’s actual investment management costs and total costs were each in the 1st quintile of both the group of comparable funds selected by Broadridge for expense comparison purposes (“Expense Group”) and the universe of comparable funds selected by Broadridge for expense comparison purposes (“Expense Universe”). |
| • | The Account ranked 2 out of 3 funds, 1 out of 3 funds, 1 out of 3 funds and 1 out of 3 funds within its group of comparable funds selected by Broadridge for performance comparison purposes (“Performance Group”) for the one-, three-, five- and ten-year periods, respectively. The Account was in the 2nd, 1st, 1st and 1st quintiles of the universe of comparable funds selected by Broadridge for performance comparison purposes (“Performance Universe”) for the one-, three-, five- and ten-year periods, respectively. |
| • | The Account received an Overall Morningstar Rating of 4 stars. |
CREF Global Equities Account
| • | The Account is operated as an at-cost arrangement, with no profits to TCIM. The Account’s pro forma investment management costs are expected to be 0.070% of average daily net assets for the year ending April 30, 2023. The Account’s actual management costs for the year ended December 31, 2021 equaled 0.059% of average daily net assets, which was used by Broadridge for comparative purposes. |
| • | The Account’s actual investment management costs and total costs were each in the 1st quintile of both its Expense Group and Expense Universe. |
| • | The Account ranked 4 out of 5 funds, 1 out of 5 funds, 1 out of 5 funds and 1 out of 4 funds within its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Account was in the 4th, 1st, 1st and 2nd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively. |
| • | The Account received an Overall Morningstar Rating of 4 stars. |
CREF Growth Account
| • | The Account is operated as an at-cost arrangement, with no profits to TCIM. The Account’s pro forma investment management costs are expected to be 0.055% of average daily net assets for the year ending April 30, 2023. The Account’s actual management costs for the year ended December 31, 2021 equaled 0.031% of average daily net assets, which was used by Broadridge for comparative purposes. |
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| • | The Account’s actual investment management costs and total costs were each in the 1st quintile of both its Expense Group and Expense Universe. |
| • | The Account was in the 1st, 2nd, 2nd and 2nd quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Account was in the 3rd quintile of its Performance Universe for each of the one-, three-, five- and ten-year periods. |
| • | The Account received an Overall Morningstar Rating of 3 stars. |
CREF Equity Index Account
| • | The Account is operated as an at-cost arrangement, with no profits to TCIM. The Account’s pro forma investment management costs are expected to be 0.010% of average daily net assets for the year ending April 30, 2023. The Account’s actual management costs for the year ended December 31, 2021 equaled 0.013% of average daily net assets, which was used by Broadridge for comparative purposes. |
| • | The Account’s actual investment management costs and total costs were each in the 1st quintile of both its Expense Group and Expense Universe. |
| • | For the three-year period, the Account’s adjusted relative gross performance (meaning the Account’s performance without any reductions for fees or expenses and excluding the effects of fair valuation, foreign exchange, effective tax rates, securities lending and class action recoveries) as compared to its benchmark, the Russell 3000® Index, differed by +2 basis points. For reference, one basis point equals 0.01%. |
| • | The Account received an Overall Morningstar Rating of 3 stars. |
CREF Core Bond Account (formerly known as the CREF Bond Market Account)
| • | The Account is operated as an at-cost arrangement, with no profits to TCIM. The Account’s pro forma investment management costs are expected to be 0.065% of average daily net assets for the year ending April 30, 2023. The Account’s actual management costs for the year ended December 31, 2021 equaled 0.063% of average daily net assets, which was used by Broadridge for comparative purposes. |
| • | The Account’s actual investment costs and total costs are each in the 1st quintile of its Expense Group and Expense Universe. |
| • | The Account was in the 4th quintile of its Performance Group for each of the one-, three-, five- and ten-year periods. The Account was in the 2nd, 3rd, 2nd and 3rd quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively. |
| • | The Account received an Overall Morningstar Rating of 4 stars. |
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Approval of investment management agreement (unaudited)
CREF Inflation-Linked Bond Account
| • | The Account is operated as an at-cost arrangement, with no profits to TCIM. The Account’s pro forma investment management costs are expected to be 0.020% of average daily net assets for the year ending April 30, 2023. The Account’s actual management costs for the year ended December 31, 2021 equaled 0.026% of average daily net assets, which was used by Broadridge for comparative purposes. |
| • | The Account’s actual investment management costs and total costs are each in the 1st quintile of both its Expense Group and Expense Universe. |
| • | The Account was in the 3rd, 4th, 4th and 4th quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Account was in the 3rd, 5th, 5th and 4th quintiles of its Performance Universe for the one-, three-, five- and ten-year periods, respectively. |
| • | The Account received an Overall Morningstar Rating of 3 stars. |
CREF Social Choice Account
| • | The Account is operated as an at-cost arrangement, with no profits to TCIM. The Account’s pro forma investment management costs are expected to be 0.040% of average daily net assets for the year ending April 30, 2023. The Account’s actual management costs for the year ended December 31, 2021 equaled 0.046% of average daily net assets, which was used by Broadridge for comparative purposes. |
| • | The Account’s actual investment management costs and total costs are each in the 1st quintile of both its Expense Group and Expense Universe. |
| • | The Account was in the 5th, 4th, 4th and 5th quintiles of its Performance Group for the one-, three-, five- and ten-year periods, respectively. The Account was in the 2nd, 1st, 1st and 2nd quintiles of its Performance Universe for each of the one-, three-, five- and ten-year periods, respectively. |
| • | The Account received an Overall Morningstar Rating of 3 stars. |
CREF Money Market Account
| • | The Account is operated as an at-cost arrangement, with no profits to TCIM. The Account’s pro forma investment management costs are expected to be 0.030% of average daily net assets for the year ending April 30, 2023. The Account’s actual management costs for the year ended December 31, 2021 equaled 0.036% of average daily net assets, which was used by Broadridge for comparative purposes. |
| • | The Account’s total costs were each in the 1st quintile of both its Expense Group and Expense Universe. |
| • | The Board acknowledged that over a multi-year period, CREF’s administrator, TIAA, withheld certain administrative and distribution expenses attributable to the Account in order to avoid a negative yield and that, under certain circumstances, a portion of these withheld amounts contractually may be recouped by TIAA when the yield of any unit class of the Account becomes positive. The Board noted the termination of TIAA’s withholding of such expenses on December 31, 2021. |
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concluded
| • | The Account ranked 2 out of 3 funds within its Performance Group for each of the one-, three-, five- and ten-year periods. The Account was in the 2nd, 2nd, 3rd and 2nd quintiles of its Performance Universe for the one, three-, five- and ten-year periods, respectively. |
| • | Money market funds are not rated by Morningstar. |
Based primarily on the foregoing factors and conclusions, the Board renewed the Agreement for each Account.
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Liquidity risk management program (unaudited)
Discussion of the operation and effectiveness of the Accounts’ liquidity risk management program
In compliance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the “Liquidity Rule”), each Account covered by this Report (the “Accounts”) has adopted and implemented a liquidity risk management program (the “Program”), which is reasonably designed to assess and manage each Account’s liquidity risk. The Program consists of various provisions relating to assessing and managing Account liquidity risk, as discussed further below. The Accounts’ Board of Trustees (the “Board”) previously approved the designation of TCIM (the “Administrator”) as Program administrator. The Liquidity Monitoring and Analysis Team (the “LMAT”) carries out day-to-day Program management with oversight by the Liquidity Oversight Committee (the “LOSC”). Personnel from the Administrator and Nuveen Fund Advisors, LLC, an affiliate of the Administrator, comprise the LMAT and LOSC.
At a February 15, 2022 Board meeting, the Administrator provided the Board with a written report addressing the Program’s operation, adequacy, and effectiveness of implementation for the period from January 1, 2021 through December 31, 2021 (the “Review Period”), as required under the Liquidity Rule. The report noted that the Program has been and continues to be adequately and effectively implemented to monitor and (as applicable) respond to the Accounts’ liquidity developments.
In accordance with the Program, the LMAT assesses each Account’s liquidity risk no less frequently than annually based on various factors, such as (i) the Account’s investment strategy and the liquidity of portfolio investments, (ii) cash flow projections, and (iii) holdings of cash and cash equivalents and borrowing arrangements and other funding sources. Certain factors are considered under both normal and reasonably foreseeable stressed conditions.
Each Account portfolio investment is classified into one of four liquidity categories (including “highly liquid investments” and “illiquid investments,” discussed below). The classification is based on a determination of how long it is reasonably expected to take to convert the investment into cash, or sell or dispose of the investment, in current market conditions without significantly changing the market value of the investment. Liquidity classification determinations take into account various market, trading, and investment-specific considerations, as well as market depth, and utilize third-party vendor data.
Any Account that does not primarily hold highly liquid investments must, among other things, determine a minimum percentage of Account net assets that must be invested in highly liquid investments (a “Highly Liquid Investment Minimum”). During the Review Period, each Account primarily held highly liquid investments and therefore was exempt from the requirement to adopt a Highly Liquid Investment Minimum and to comply with the related requirements under the Liquidity Rule.
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The Liquidity Rule also limits each Account’s investments in illiquid investments. Specifically, the Liquidity Rule prohibits acquisition of illiquid investments if doing so would result in an Account holding more than 15% of its net assets in illiquid investments and requires certain reporting anytime an Account’s holdings of illiquid investments exceed 15% of net assets. During the Review Period, no Account exceeded the 15% limit on illiquid investments.
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Additional information about index providers (unaudited)
Russell indexes
Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2022. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE®,” “Russell®” and “FTSE Russell®” are trademarks of the relevant LSE Group companies and are used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.
Bloomberg indexes
Source: Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively “Bloomberg”). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Bloomberg neither approves nor endorses this material, nor guarantees the accuracy or completeness of any information herein, nor makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
During the reporting period, “Bloomberg Barclays” fixed-income indices were rebranded as “Bloomberg” indices. This change affects all Bloomberg fixed-income indices.
MSCI indexes
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| 122 | 2022 Semiannual Report ■ College Retirement Equities Fund |
Morningstar indexes
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| College Retirement Equities Fund ■ 2022 Semiannual Report | 123 |
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COLLEGE RETIREMENT EQUITIES FUND - Stock Account
COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2022
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| BONDS - 0.0% | ||||||||||||||||
| CORPORATE BONDS - 0.0% | ||||||||||||||||
| FOOD, BEVERAGE & TOBACCO - 0.0% | ||||||||||||||||
| INR | 4,636,868 | Britannia Industries Ltd | 5.500 | % | 06/03/24 | $ | 57 | |||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO | 57 | |||||||||||||||
| TOTAL CORPORATE BONDS | 57 | |||||||||||||||
| (Cost $64) | ||||||||||||||||
| TOTAL BONDS | 57 | |||||||||||||||
| (Cost $64) | ||||||||||||||||
| SHARES | COMPANY | |||||||||||||||
| COMMON STOCKS - 98.7% | ||||||||||||||||
| AUTOMOBILES & COMPONENTS - 2.1% | ||||||||||||||||
| 58,000 | Actron Technology Corp | 298 | ||||||||||||||
| 756,713 | * | Adient plc | 22,421 | |||||||||||||
| 196,953 | Aisin Seiki Co Ltd | 6,096 | ||||||||||||||
| 509,197 | * | American Axle & Manufacturing Holdings, Inc | 3,834 | |||||||||||||
| 420,531 | Apollo Tyres Ltd | 990 | ||||||||||||||
| 493,956 | * | Aptiv plc | 43,997 | |||||||||||||
| 92,958 | ARB Corp Ltd | 1,816 | ||||||||||||||
| 74,881 | Asahi India Glass Ltd | 514 | ||||||||||||||
| 81,480 | *,e,g | Aston Martin Lagonda Global Holdings plc | 440 | |||||||||||||
| 68,122,407 | Astra International Tbk PT | 30,360 | ||||||||||||||
| 172,620 | Autoliv, Inc | 12,354 | ||||||||||||||
| 85,209 | Autoliv, Inc (ADR) | 6,184 | ||||||||||||||
| 3,451 | e | Autoneum Holding AG. | 328 | |||||||||||||
| 78,477 | Bajaj Holdings and Investment Ltd | 3,696 | ||||||||||||||
| 86,123 | Balkrishna Industries Ltd | 2,355 | ||||||||||||||
| 375,736 | Bayerische Motoren Werke AG. | 29,127 | ||||||||||||||
| 8,212 | Bayerische Motoren Werke AG. (Preference) | 586 | ||||||||||||||
| 273,626 | Bharat Forge Ltd | 2,266 | ||||||||||||||
| 81,561 | BorgWarner, Inc | 2,722 | ||||||||||||||
| 377,657 | Bridgestone Corp | 13,769 | ||||||||||||||
| 1,248,497 | *,† | Brilliance China Automotive Holdings Ltd | 2 | |||||||||||||
| 122,943 | BYD Co Ltd | 6,143 | ||||||||||||||
| 918,362 | BYD Co Ltd (H shares) | 37,019 | ||||||||||||||
| 20,927 | *,e | Canoo, Inc | 39 | |||||||||||||
| 23,001 | Ceat Ltd | 271 | ||||||||||||||
| 148,571 | *,e | Cenntro Electric Group Ltd | 224 | |||||||||||||
| 5,639 | Changzhou Xingyu Automotive Lighting Systems Co Ltd | 144 | ||||||||||||||
| 2,008,885 | Cheng Shin Rubber Industry Co Ltd | 2,393 | ||||||||||||||
| 270,000 | China Motor Corp | 564 | ||||||||||||||
| 131,008 | Chongqing Changan Automobile Co Ltd | 340 | ||||||||||||||
| 58,499 | Cie Automotive S.A. | 1,457 | ||||||||||||||
| 1 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,544,808 | Cie Generale des Etablissements Michelin S.C.A | $ | 42,190 | |||||||
| 70,320 | Cie Plastic Omnium SA | 1,223 | ||||||||
| 1,012,420 | * | Cofide S.p.A. | 428 | |||||||
| 588,468 | Continental AG. | 41,304 | ||||||||
| 68,000 | Cub Elecparts, Inc | 299 | ||||||||
| 463,540 | Daimler AG. (Registered) | 26,922 | ||||||||
| 757,879 | Dana Inc | 10,663 | ||||||||
| 454,506 | Denso Corp | 23,990 | ||||||||
| 377,617 | g | Dometic Group AB | 2,228 | |||||||
| 4,030 | Dong Ah Tire & Rubber Co Ltd | 173 | ||||||||
| 3,314,517 | Dongfeng Motor Group Co Ltd | 2,523 | ||||||||
| 8,856 | * | Dorman Products, Inc | 972 | |||||||
| 1,247,200 | Drb-Hicom BHD | 340 | ||||||||
| 154,988 | Eicher Motors Ltd | 5,506 | ||||||||
| 34,462 | ElringKlinger AG. | 261 | ||||||||
| 36,365 | g | Endurance Technologies Ltd | 652 | |||||||
| 30,482 | Exedy Corp | 387 | ||||||||
| 480,471 | Exide Industries Ltd | 841 | ||||||||
| 45,808 | * | Faraday Future Intelligent Electric, Inc | 119 | |||||||
| 183,312 | e | Faurecia | 3,674 | |||||||
| 72,886 | FAW Jiefang Group Co Ltd | 102 | ||||||||
| 33,900 | FCC Co Ltd | 337 | ||||||||
| 90,435 | Ferrari NV | 16,643 | ||||||||
| 125,514 | *,e | Fisker, Inc | 1,076 | |||||||
| 1,782,779 | Ford Motor Co | 19,842 | ||||||||
| 66,093 | Ford Otomotiv Sanayi AS | 1,065 | ||||||||
| 39,990 | * | Fox Factory Holding Corp | 3,221 | |||||||
| 445,032 | e | Freni Brembo SpA | 4,339 | |||||||
| 407,101 | Fuji Heavy Industries Ltd | 7,201 | ||||||||
| 80,263 | Fuyao Glass Industry Group Co Ltd - A | 501 | ||||||||
| 694,562 | g | Fuyao Glass Industry Group Co Ltd - H | 3,514 | |||||||
| 6,817,302 | Geely Automobile Holdings Ltd | 15,614 | ||||||||
| 1,088,148 | * | General Motors Co | 34,560 | |||||||
| 77,250 | Gentex Corp | 2,161 | ||||||||
| 16,166 | * | Gentherm, Inc | 1,009 | |||||||
| 211,509 | g | Gestamp Automocion S.A. | 738 | |||||||
| 6,290 | Global & Yuasa Battery Co Ltd | 256 | ||||||||
| 54,000 | Global PMX Co Ltd | 279 | ||||||||
| 1,643,234 | * | Goodyear Tire & Rubber Co | 17,599 | |||||||
| 3,502,746 | Great Wall Motor Co Ltd | 7,255 | ||||||||
| 88,159 | Great Wall Motor Co Ltd | 489 | ||||||||
| 23,500 | G-Tekt Corp | 221 | ||||||||
| 211,400 | Guangzhou Automobile Group Co Ltd | 482 | ||||||||
| 3,389,042 | Guangzhou Automobile Group Co Ltd - H | 3,288 | ||||||||
| 161,761 | GUD Holdings Ltd | 892 | ||||||||
| 8,639 | Halla Holdings Corp | 244 | ||||||||
| 84,869 | Hankook Tire Co Ltd | 2,164 | ||||||||
| 31,167 | Hankook Tire Worldwide Co Ltd | 309 | ||||||||
| 194,363 | Hanon Systems | 1,511 | ||||||||
| 134,742 | Harley-Davidson, Inc | 4,266 | ||||||||
| 2 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 131,228 | Hero Honda Motors Ltd | $ | 4,540 | |||||||
| 7,892 | *,e | Holley, Inc | 83 | |||||||
| 1,112,486 | Honda Motor Co Ltd | 26,823 | ||||||||
| 1,450,000 | Hota Industrial Manufacturing Co Ltd | 2,987 | ||||||||
| 153,815 | Huayu Automotive Systems Co Ltd | 529 | ||||||||
| 588,000 | e | Huazhong In-Vehicle Holdings Co Ltd | 197 | |||||||
| 30,200 | Huizhou Desay Sv Automotive Co Ltd | 669 | ||||||||
| 72,293 | Hyundai Mobis | 11,143 | ||||||||
| 157,034 | Hyundai Motor Co | 21,945 | ||||||||
| 42,510 | Hyundai Motor Co Ltd (2nd Preference) | 2,873 | ||||||||
| 27,303 | Hyundai Motor Co Ltd (Preference) | 1,833 | ||||||||
| 19,957 | Hyundai Wia Corp | 862 | ||||||||
| 12,547 | * | Iljin Hysolus Co ltd | 312 | |||||||
| 385,651 | Isuzu Motors Ltd | 4,266 | ||||||||
| 207,079 | Jamna Auto Industries Ltd | 322 | ||||||||
| 493,342 | Johnson Electric Holdings Ltd | 640 | ||||||||
| 244,600 | JTEKT Corp | 1,839 | ||||||||
| 19,496 | Kayaba Industry Co Ltd | 445 | ||||||||
| 608,000 | Kenda Rubber Industrial Co Ltd | 708 | ||||||||
| 334,085 | Kia Motors Corp | 19,940 | ||||||||
| 615,387 | * | Koito Manufacturing Co Ltd | 19,546 | |||||||
| 130,115 | * | Kumho Tire Co, Inc | 351 | |||||||
| 4,225 | LCI Industries, Inc | 473 | ||||||||
| 19,215 | Lear Corp | 2,419 | ||||||||
| 624,722 | * | Li Auto, Inc (ADR) | 23,933 | |||||||
| 53,296 | Linamar Corp | 2,258 | ||||||||
| 126,024 | *,e | Lordstown Motors Corp | 199 | |||||||
| 89,728 | *,e | Lucid Group, Inc | 1,540 | |||||||
| 43,491 | *,e | Luminar Technologies, Inc | 258 | |||||||
| 340,383 | Magna International, Inc | 18,690 | ||||||||
| 988,143 | Mahindra & Mahindra Ltd | 13,743 | ||||||||
| 114,271 | Mahindra CIE Automotive Ltd | 339 | ||||||||
| 42,500 | Mahle-Metal Leve S.A. Industria e Comercio | 188 | ||||||||
| 37,850 | Mando Corp | 1,390 | ||||||||
| 77,843 | e | Martinrea International, Inc | 503 | |||||||
| 143,838 | Maruti Suzuki India Ltd | 15,504 | ||||||||
| 374,997 | Mazda Motor Corp | 3,061 | ||||||||
| 10,480 | MGI Coutier | 176 | ||||||||
| 69,623 | * | Minda Corp Ltd | 179 | |||||||
| 89,219 | Minda Industries Ltd | 1,047 | ||||||||
| 881,426 | Minth Group Ltd | 2,415 | ||||||||
| 1,338,800 | * | Mitsubishi Motors Corp | 4,516 | |||||||
| 163,011 | * | Modine Manufacturing Co | 1,716 | |||||||
| 1,412,456 | Motherson Sumi Systems Ltd | 2,123 | ||||||||
| 2,061,128 | * | Motherson Sumi Wiring India Lt | 1,831 | |||||||
| 15,372 | *,e | Motorcar Parts of America, Inc | 202 | |||||||
| 2,171 | MRF Ltd | 1,951 | ||||||||
| 3,397 | *,e | Mullen Automotive, Inc | 3 | |||||||
| 54,638 | Musashi Seimitsu Industry Co Ltd | 560 | ||||||||
| 26,705 | * | Myoung Shin Industrial Co Ltd | 346 | |||||||
| 3 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 400,000 | * | Nan Kang Rubber Tire Co Ltd | $ | 515 | ||||||
| 2,232,698 | *,e,g | Nemak SAB de C.V. | 442 | |||||||
| 33,796 | Nexen Tire Corp | 138 | ||||||||
| 590,000 | Nexteer Automotive Group Ltd | 426 | ||||||||
| 177,700 | NGK Spark Plug Co Ltd | 3,223 | ||||||||
| 234,215 | NHK Spring Co Ltd | 1,537 | ||||||||
| 95,612 | Nifco, Inc | 2,236 | ||||||||
| 87,711 | Ningbo Joyson Electronic Corp | 206 | ||||||||
| 37,078 | Ningbo Tuopu Group Co Ltd | 380 | ||||||||
| 1,478,272 | * | NIO, Inc (ADR) | 32,108 | |||||||
| 60,053 | Nippon Seiki Co Ltd | 382 | ||||||||
| 1,531,943 | * | Nissan Motor Co Ltd | 6,000 | |||||||
| 88,910 | Nissan Shatai Co Ltd | 377 | ||||||||
| 36,300 | *,e | Niu Technologies (ADR) | 312 | |||||||
| 133,188 | NOK Corp | 1,082 | ||||||||
| 152,298 | Nokian Renkaat Oyj | 1,680 | ||||||||
| 44,700 | Pacific Industrial Co Ltd | 346 | ||||||||
| 39,728 | Patrick Industries, Inc | 2,059 | ||||||||
| 265,326 | Piaggio & C S.p.A. | 623 | ||||||||
| 37,394 | Piolax Inc | 552 | ||||||||
| 416,176 | e,g | Pirelli & C S.p.A | 1,694 | |||||||
| 568,583 | Porsche AG. | 37,817 | ||||||||
| 210,500 | Prinx Chengshan Cayman Holding Ltd | 194 | ||||||||
| 86,143 | PWR Holdings Ltd | 376 | ||||||||
| 758,000 | Qingling Motors Co Ltd | 128 | ||||||||
| 80,477 | *,e | QuantumScape Corp | 691 | |||||||
| 26,936 | * | Renault S.A. | 680 | |||||||
| 260,847 | *,e | Rivian Automotive, Inc | 6,714 | |||||||
| 8,272 | S&T Daewoo Co Ltd | 275 | ||||||||
| 558,323 | SAIC Motor Corp Ltd | 1,489 | ||||||||
| 217,700 | Sailun Group Co Ltd | 368 | ||||||||
| 566,000 | Sanyang Industry Co Ltd | 672 | ||||||||
| 143,310 | Schaeffler AG. | 814 | ||||||||
| 29,405 | Shandong Linglong Tyre Co Ltd | 112 | ||||||||
| 15,300 | Shenzhen Kedali Industry Co Ltd | 364 | ||||||||
| 27,600 | Shoei Co Ltd | 1,083 | ||||||||
| 19,128 | SL Corp | 464 | ||||||||
| 31,285 | * | Solid Power, Inc | 168 | |||||||
| 1,056,800 | Sri Trang Agro-Industry PCL (Foreign) | 635 | ||||||||
| 17,312 | Standard Motor Products, Inc | 779 | ||||||||
| 149,600 | Stanley Electric Co Ltd | 2,456 | ||||||||
| 317,612 | e | Stellantis NV | 3,943 | |||||||
| 206,017 | * | Stoneridge, Inc | 3,533 | |||||||
| 474,240 | Sumitomo Electric Industries Ltd | 5,241 | ||||||||
| 41,417 | Sumitomo Riko Co Ltd | 180 | ||||||||
| 203,200 | Sumitomo Rubber Industries, Inc | 1,738 | ||||||||
| 4,973 | Sundaram-Clayton Ltd | 275 | ||||||||
| 115,348 | Sundram Fasteners Ltd | 1,061 | ||||||||
| 67,753 | Suprajit Engineering Ltd | 286 | ||||||||
| 243,458 | * | Suzuki Motor Corp | 7,654 | |||||||
| 4 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,891,712 | * | Tata Motors Ltd | $ | 9,861 | ||||||
| 224,691 | * | Tenneco, Inc | 3,856 | |||||||
| 1,263,958 | *,n | Tesla, Inc | 851,175 | |||||||
| 86,352 | e | Thor Industries, Inc | 6,453 | |||||||
| 388,240 | g | TI Fluid Systems plc | 717 | |||||||
| 800,000 | e | Tianneng Power International Ltd | 868 | |||||||
| 61,347 | Tokai Rika Co Ltd | 669 | ||||||||
| 440,000 | Tong Yang Industry Co Ltd | 731 | ||||||||
| 40,368 | Topre Corp | 297 | ||||||||
| 375,125 | e | Toyo Tire & Rubber Co Ltd | 4,689 | |||||||
| 77,000 | Toyoda Gosei Co Ltd | 1,215 | ||||||||
| 87,395 | Toyota Boshoku Corp | 1,298 | ||||||||
| 19,720,555 | * | Toyota Motor Corp | 304,274 | |||||||
| 10,261 | Trigano S.A. | 1,010 | ||||||||
| 100,600 | TS Tech Co Ltd | 1,041 | ||||||||
| 121,373 | Tube Investments of India Ltd | 2,837 | ||||||||
| 78,000 | Tung Thih Electronic Co Ltd | 404 | ||||||||
| 76,300 | Tupy S.A. | 324 | ||||||||
| 231,078 | TVS Motor Co Ltd | 2,474 | ||||||||
| 395,700 | UMW Holdings BHD | 279 | ||||||||
| 1,415,110 | e | Valeo S.A. | 27,575 | |||||||
| 44,391 | *,g | Varroc Engineering Ltd | 170 | |||||||
| 4,690 | * | Visteon Corp | 486 | |||||||
| 23,449 | * | Vitesco Technologies Group AG. | 911 | |||||||
| 12,398 | Volkswagen AG. | 2,267 | ||||||||
| 296,672 | Volkswagen AG. (Preference) | 39,944 | ||||||||
| 623,680 | *,e | Volvo Car AB | 4,144 | |||||||
| 5,406 | * | WABCO India Ltd | 530 | |||||||
| 52,985 | e | Winnebago Industries, Inc | 2,573 | |||||||
| 38,708 | *,e | Workhorse Group, Inc | 101 | |||||||
| 1,380,000 | e | Wuling Motors Holdings Ltd | 227 | |||||||
| 3,916 | * | XPEL, Inc | 180 | |||||||
| 435,816 | * | XPeng, Inc (ADR) | 13,833 | |||||||
| 849,031 | g | Yadea Group Holdings Ltd | 1,665 | |||||||
| 303,865 | e | Yamaha Motor Co Ltd | 5,580 | |||||||
| 140,100 | e | Yokohama Rubber Co Ltd | 1,899 | |||||||
| 572,000 | Yulon Motor Co Ltd | 909 | ||||||||
| TOTAL AUTOMOBILES & COMPONENTS | 2,207,012 | |||||||||
| BANKS - 7.0% | ||||||||||
| 13,533 | 1st Source Corp | 614 | ||||||||
| 66,703 | 77 Bank Ltd | 894 | ||||||||
| 140,759 | * | Aareal Bank AG. | 4,691 | |||||||
| 57,438 | * | Aavas Financiers Ltd | 1,471 | |||||||
| 59,314 | g | ABN AMRO Group NV | 666 | |||||||
| 575,501 | Absa Group Ltd | 5,495 | ||||||||
| 1,984,421 | Abu Dhabi Commercial Bank PJSC | 4,792 | ||||||||
| 1,029,615 | Abu Dhabi Islamic Bank PJSC | 2,106 | ||||||||
| 6,759 | ACNB Corp | 201 | ||||||||
| 27,736,383 | * | Agricultural Bank of China Ltd | 10,486 | |||||||
| 5 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 3,966,962 | * | Agricultural Bank of China Ltd (Class A) | $ | 1,791 | ||||||
| 20,657,699 | AIB Group plc | 47,147 | ||||||||
| 2,226,187 | Akbank TAS | 1,070 | ||||||||
| 67,618 | Aktia Bank Oyj | 648 | ||||||||
| 914,511 | Al Ahli Bank of Kuwait KSCP | 956 | ||||||||
| 2,297,313 | Al Rajhi Bank | 50,613 | ||||||||
| 1,280,361 | Alinma Bank | 11,442 | ||||||||
| 111,481 | * | Alior Bank S.A. | 682 | |||||||
| 16,449 | Allegiance Bancshares, Inc | 621 | ||||||||
| 1,075,800 | Alliance Financial Group BHD | 777 | ||||||||
| 1,533,117 | * | Alpha Bank AE | 1,354 | |||||||
| 315,270 | *,† | Amagerbanken AS | 0 | ^ | ||||||
| 11,044 | Amalgamated Financial Corp | 218 | ||||||||
| 23,523 | Amerant Bancorp Inc | 661 | ||||||||
| 8,892 | American National Bankshares, Inc | 308 | ||||||||
| 55,125 | Ameris Bancorp | 2,215 | ||||||||
| 34,990 | Amlak International for Real Estate Finance Co | 167 | ||||||||
| 1,225,834 | AMMB Holdings BHD | 1,038 | ||||||||
| 146,000 | e | Aozora Bank Ltd | 2,841 | |||||||
| 113,230 | * | Aptus Value Housing Finance India Ltd | 406 | |||||||
| 436,322 | Arab National Bank | 3,439 | ||||||||
| 11,553 | Arrow Financial Corp | 368 | ||||||||
| 122,052 | Associated Banc-Corp | 2,229 | ||||||||
| 62,002 | Atlantic Union Bankshares Corp | 2,103 | ||||||||
| 199,637 | *,g | AU Small Finance Bank Ltd | 1,502 | |||||||
| 3,702,106 | Australia & New Zealand Banking Group Ltd | 56,386 | ||||||||
| 36,244 | Awa Bank Ltd | 541 | ||||||||
| 2,586,082 | Axis Bank Ltd | 20,947 | ||||||||
| 81,191 | * | Axos Financial, Inc | 2,911 | |||||||
| 239,280 | Banc of California, Inc | 4,216 | ||||||||
| 384,989 | *,e | Banca Monte dei Paschi di Siena S.p.A | 219 | |||||||
| 521,615 | e | Banca Popolare di Sondrio SCARL | 1,802 | |||||||
| 8,454 | e | Bancfirst Corp | 809 | |||||||
| 91,100 | Banco ABC Brasil S.A. | 270 | ||||||||
| 19,654,175 | Banco Bilbao Vizcaya Argentaria S.A. | 89,281 | ||||||||
| 1,656,424 | Banco BPM S.p.A. | 4,729 | ||||||||
| 7,481,086 | Banco Bradesco S.A. | 20,556 | ||||||||
| 10,931,259 | Banco Bradesco S.A. (Preference) | 35,926 | ||||||||
| 39,850,660 | Banco Comercial Portugues S.A. | 6,885 | ||||||||
| 30,225,704 | Banco de Chile | 2,750 | ||||||||
| 37,802 | Banco de Credito e Inversiones | 1,107 | ||||||||
| 6,525,895 | Banco de Sabadell S.A. | 5,233 | ||||||||
| 887,200 | e,g | Banco del Bajio S.A. | 1,778 | |||||||
| 629,301 | Banco do Brasil S.A. | 4,014 | ||||||||
| 268,500 | Banco do Estado do Rio Grande do Sul | 460 | ||||||||
| 16,063,377 | *,† | Banco Espirito Santo S.A. | 168 | |||||||
| 378,400 | Banco Pan S.A. | 442 | ||||||||
| 263,410 | Banco Santander Brasil S.A. | 1,450 | ||||||||
| 42,817,437 | Banco Santander Chile S.A. | 1,729 | ||||||||
| 3,964,615 | Banco Santander S.A. | 11,218 | ||||||||
| 6 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 180,199 | BanColombia S.A. | $ | 1,456 | |||||||
| 388,954 | BanColombia S.A. (ADR) | 11,991 | ||||||||
| 504,427 | BanColombia S.A. (Preference) | 3,852 | ||||||||
| 471,838 | g | Bandhan Bank Ltd | 1,583 | |||||||
| 5,313,500 | * | Bank Aladin Syariah Tbk PT | 683 | |||||||
| 326,565 | * | Bank AlBilad | 3,819 | |||||||
| 286,353 | Bank Al-Jazira | 1,709 | ||||||||
| 2,814,200 | Bank BTPN Syariah Tbk PT | 533 | ||||||||
| 89,407,570 | Bank Central Asia Tbk PT | 43,536 | ||||||||
| 5,427 | e | Bank First Corp | 411 | |||||||
| 54,773 | Bank Handlowy w Warszawie S.A. | 689 | ||||||||
| 573,687 | Bank Hapoalim Ltd | 4,817 | ||||||||
| 2,746,500 | * | Bank Jago Tbk PT | 1,690 | |||||||
| 600,268 | Bank Leumi Le-Israel | 5,370 | ||||||||
| 782,147 | * | Bank Millennium S.A. | 681 | |||||||
| 4,863,400 | * | Bank Neo Commerce Tbk PT | 322 | |||||||
| 18,735,755 | Bank of America Corp | 583,244 | ||||||||
| 957,562 | Bank of Beijing Co Ltd | 650 | ||||||||
| 418,100 | Bank of Changsha Co Ltd | 496 | ||||||||
| 186,020 | Bank of Chengdu Co Ltd | 462 | ||||||||
| 1,886,244 | * | Bank of China Ltd - A | 919 | |||||||
| 183,208,912 | * | Bank of China Ltd - H | 73,205 | |||||||
| 1,858,612 | Bank of Communications Co Ltd - A | 1,384 | ||||||||
| 6,500,319 | Bank of Communications Co Ltd - H | 4,506 | ||||||||
| 1,566,000 | Bank of East Asia Ltd | 2,204 | ||||||||
| 42,077 | Bank of Georgia Group plc | 669 | ||||||||
| 286,395 | * | Bank of Hangzhou Co Ltd | 642 | |||||||
| 3,274 | Bank of Hawaii Corp | 244 | ||||||||
| 12,449,353 | Bank of Ireland Group plc | 78,687 | ||||||||
| 685,418 | Bank of Jiangsu Co Ltd | 730 | ||||||||
| 580,000 | Bank of Kaohsiung | 265 | ||||||||
| 70,700 | Bank of Kyoto Ltd | 3,026 | ||||||||
| 32,279 | Bank of Marin Bancorp | 1,026 | ||||||||
| 963,495 | e | Bank of Montreal | 92,652 | |||||||
| 420,614 | Bank of Nanjing Co Ltd | 656 | ||||||||
| 281,274 | Bank of Ningbo Co Ltd | 1,508 | ||||||||
| 1,526,245 | e | Bank of Nova Scotia | 90,327 | |||||||
| 155,038 | Bank of NT Butterfield & Son Ltd | 4,836 | ||||||||
| 1,342,667 | Bank of Queensland Ltd (ASE) | 6,193 | ||||||||
| 726,799 | Bank of Shanghai Co Ltd | 712 | ||||||||
| 1,303,320 | Bank of the Philippine Islands | 2,010 | ||||||||
| 10,555 | Bank OZK | 396 | ||||||||
| 135,621 | Bank Pekao S.A. | 2,483 | ||||||||
| 6,700,511 | Bank Pembangunan Daerah Jawa Barat Dan Banten Tbk PT | 619 | ||||||||
| 7,139,300 | Bank Pembangunan Daerah Jawa Timur Tbk PT | 355 | ||||||||
| 118,703,868 | Bank Rakyat Indonesia | 33,150 | ||||||||
| 12,314,800 | Bank Tabungan Negara Persero Tbk PT | 1,205 | ||||||||
| 22,004 | Bank Zachodni WBK S.A. | 1,147 | ||||||||
| 772,547 | Bankinter S.A. | 4,832 | ||||||||
| 149,036 | BankUnited | 5,301 | ||||||||
| 7 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 4,504 | Bankwell Financial Group, Inc | $ | 140 | |||||||
| 300,633 | Banner Corp | 16,899 | ||||||||
| 34,260 | Banque Cantonale Vaudoise | 2,692 | ||||||||
| 715,519 | Banque Saudi Fransi | 9,064 | ||||||||
| 18,121 | Bar Harbor Bankshares | 469 | ||||||||
| 50,285,773 | Barclays plc | 94,032 | ||||||||
| 1,113,483 | BAWAG Group AG. | 47,005 | ||||||||
| 9,700 | Baycom Corp | 201 | ||||||||
| 11,550 | BCB Bancorp, Inc | 197 | ||||||||
| 3,988,926 | BDO Unibank, Inc | 8,025 | ||||||||
| 892,906 | Bendigo Bank Ltd | 5,605 | ||||||||
| 86,256 | Berkshire Hills Bancorp, Inc | 2,137 | ||||||||
| 646,100 | BIMB Holdings BHD | 393 | ||||||||
| 22,552 | * | Blue Foundry Bancorp | 270 | |||||||
| 23,466 | Blue Ridge Bankshares, Inc | 360 | ||||||||
| 1,026,174 | BNP Paribas S.A. | 49,084 | ||||||||
| 4,101,669 | BOC Hong Kong Holdings Ltd | 16,288 | ||||||||
| 2,435 | BOK Financial Corp | 184 | ||||||||
| 917,515 | Boubyan Bank KSCP | 2,312 | ||||||||
| 1,264,313 | e | BPER Banca | 2,084 | |||||||
| 9,783 | BRE Bank S.A. | 494 | ||||||||
| 14,515 | * | Bridgewater Bancshares, Inc | 234 | |||||||
| 85,148 | Brookline Bancorp, Inc | 1,133 | ||||||||
| 331,642 | BS Financial Group, Inc | 1,721 | ||||||||
| 4,627,388 | Bumiputra-Commerce Holdings BHD | 5,207 | ||||||||
| 1,235,808 | Burgan Bank SAK | 971 | ||||||||
| 16,972 | Business First Bancshares, Inc | 362 | ||||||||
| 44,179 | Byline Bancorp, Inc | 1,051 | ||||||||
| 466,773 | Cadence BanCorp | 10,960 | ||||||||
| 622,252 | CaixaBank S.A. | 2,179 | ||||||||
| 5,910 | Cambridge Bancorp | 489 | ||||||||
| 12,491 | Camden National Corp | 550 | ||||||||
| 75,043 | Can Fin Homes Ltd | 407 | ||||||||
| 1,216,185 | Canadian Imperial Bank of Commerce | 59,061 | ||||||||
| 219,139 | Canadian Western Bank | 4,431 | ||||||||
| 430,290 | Canara Bank | 993 | ||||||||
| 7,268 | Capital Bancorp, Inc | 158 | ||||||||
| 14,745 | Capital City Bank Group, Inc | 411 | ||||||||
| 192,198 | Capitec Bank Holdings Ltd | 23,556 | ||||||||
| 382,146 | Capitol Federal Financial | 3,508 | ||||||||
| 29,664 | Capstar Financial Holdings, Inc | 582 | ||||||||
| 20,923 | * | Carter Bankshares, Inc | 276 | |||||||
| 144,761 | Cathay General Bancorp | 5,667 | ||||||||
| 23,025 | e | CBTX, Inc | 612 | |||||||
| 233,598 | Central Pacific Financial Corp | 5,011 | ||||||||
| 3,099,615 | Chang Hwa Commercial Bank | 1,811 | ||||||||
| 749,516 | Chiba Bank Ltd | 4,103 | ||||||||
| 6,770,490 | China Citic Bank | 3,033 | ||||||||
| 731,107 | China Construction Bank Corp - A | 662 | ||||||||
| 110,735,546 | China Construction Bank Corp - H | 74,664 | ||||||||
| 8 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,929,704 | China Everbright Bank Co Ltd - A | $ | 869 | |||||||
| 3,053,845 | China Everbright Bank Co Ltd - H | 990 | ||||||||
| 5,942,981 | China Merchants Bank Co Ltd | 40,141 | ||||||||
| 2,640,012 | China Merchants Bank Co Ltd (Class A) | 16,696 | ||||||||
| 1,702,248 | China Minsheng Banking Corp Ltd - A | 947 | ||||||||
| 4,893,491 | e | China Minsheng Banking Corp Ltd - H | 1,747 | |||||||
| 746,829 | China Zheshang Bank Co Ltd | 371 | ||||||||
| 32,803,388 | Chinatrust Financial Holding Co | 27,747 | ||||||||
| 1,306,900 | Chongqing Rural Commercial Bank Co Ltd | 723 | ||||||||
| 167,100 | Chugoku Bank Ltd | 1,212 | ||||||||
| 1,881,347 | Citigroup, Inc | 86,523 | ||||||||
| 12,132 | Citizens & Northern Corp | 293 | ||||||||
| 1,258,097 | Citizens Financial Group, Inc | 44,901 | ||||||||
| 12,427 | City Holding Co | 993 | ||||||||
| 426,748 | City Union Bank Ltd | 721 | ||||||||
| 12,267 | Civista Bancshares, Inc | 261 | ||||||||
| 175,721 | Close Brothers Group plc | 2,209 | ||||||||
| 13,970 | CNB Financial Corp | 338 | ||||||||
| 6,834 | * | Coastal Financial Corp | 261 | |||||||
| 154,731 | *,e | Collector AB | 469 | |||||||
| 13,120 | Colony Bankcorp Inc | 198 | ||||||||
| 267,352 | Columbia Banking System, Inc | 7,660 | ||||||||
| 20,217 | * | Columbia Financial, Inc | 441 | |||||||
| 309,640 | Comerica, Inc | 22,721 | ||||||||
| 9,516 | Commerce Bancshares, Inc | 625 | ||||||||
| 1,392,741 | Commercial Bank of Qatar QSC | 2,622 | ||||||||
| 1,211,212 | Commercial International Bank | 2,399 | ||||||||
| 7,749,033 | * | Commerzbank AG. | 54,980 | |||||||
| 2,518,580 | Commonwealth Bank of Australia | 157,352 | ||||||||
| 103,704 | Community Bank System, Inc | 6,562 | ||||||||
| 13,509 | Community Trust Bancorp, Inc | 546 | ||||||||
| 1,189,460 | Concordia Financial Group Ltd | 4,130 | ||||||||
| 138,093 | ConnectOne Bancorp, Inc | 3,376 | ||||||||
| 320,382 | Credicorp Ltd | 38,417 | ||||||||
| 175,383 | Credit Agricole S.A. | 1,617 | ||||||||
| 92,707 | e | Credito Emiliano S.p.A. | 511 | |||||||
| 46,322 | *,e | CrossFirst Bankshares, Inc | 611 | |||||||
| 35,061 | Cullen/Frost Bankers, Inc | 4,083 | ||||||||
| 25,038 | * | Customers Bancorp, Inc | 849 | |||||||
| 110,903 | e | CVB Financial Corp | 2,752 | |||||||
| 5,646,074 | *,† | Cyprus Popular Bank Public Co Ltd | 59 | |||||||
| 480,427 | Dah Sing Banking Group Ltd | 390 | ||||||||
| 166,308 | Dah Sing Financial Holdings Ltd | 475 | ||||||||
| 42,686 | Daishi Hokuetsu Financial Group, Inc | 790 | ||||||||
| 157,234 | Danske Bank AS | 2,238 | ||||||||
| 2,006,668 | DBS Group Holdings Ltd | 42,937 | ||||||||
| 146,989 | g | Deutsche Pfandbriefbank AG. | 1,328 | |||||||
| 177,393 | DGB Financial Group Co Ltd | 1,041 | ||||||||
| 28,167 | Dime Community Bancshares, Inc | 835 | ||||||||
| 291,342 | DNB Bank ASA | 5,274 | ||||||||
| 1,851,523 | Doha Bank QSC | 1,323 | ||||||||
| 2,037,890 | Dubai Islamic Bank PJSC | 3,200 | ||||||||
| 9 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 13,793,525 | E.Sun Financial Holding Co Ltd | $ | 13,465 | |||||||
| 48,872 | Eagle Bancorp, Inc | 2,317 | ||||||||
| 137,995 | East West Bancorp, Inc | 8,942 | ||||||||
| 242,640 | Eastern Bankshares, Inc | 4,479 | ||||||||
| 1,336,948 | Emirates NBD Bank PJSC | 4,815 | ||||||||
| 84,367 | e | Enact Holdings, Inc | 1,812 | |||||||
| 8,010 | Enterprise Bancorp, Inc | 258 | ||||||||
| 99,880 | Enterprise Financial Services Corp | 4,145 | ||||||||
| 28,595 | e | Equitable Group, Inc | 1,181 | |||||||
| 228,234 | *,g | Equitas Small Finance Bank Ltd | 115 | |||||||
| 12,614 | Equity Bancshares, Inc | 368 | ||||||||
| 96,066 | Erste Bank der Oesterreichischen Sparkassen AG. | 2,441 | ||||||||
| 8,058 | Esquire Financial Holdings, Inc | 268 | ||||||||
| 260,930 | Essent Group Ltd | 10,150 | ||||||||
| 1,683,281 | * | Eurobank Ergasias S.A. | 1,510 | |||||||
| 2,021,000 | Far Eastern International Bank | 765 | ||||||||
| 7,299 | * | Farmers & Merchants Bancorp, Inc | 242 | |||||||
| 24,513 | Farmers National Banc Corp | 368 | ||||||||
| 30,268 | FB Financial Corp | 1,187 | ||||||||
| 7,395 | Federal Agricultural Mortgage Corp (FAMC) | 722 | ||||||||
| 2,127,728 | Federal Bank Ltd | 2,441 | ||||||||
| 20,822 | FIBI Holdings Ltd | 877 | ||||||||
| 5,196,597 | Fifth Third Bancorp | 174,606 | ||||||||
| 33,440 | *,e | Finance Of America Cos, Inc | 53 | |||||||
| 12,736 | Financial Institutions, Inc | 331 | ||||||||
| 953,926 | FinecoBank Banca Fineco S.p.A | 11,444 | ||||||||
| 411,023 | First Bancorp | 5,306 | ||||||||
| 29,517 | First Bancorp | 1,030 | ||||||||
| 8,585 | First Bancorp, Inc | 259 | ||||||||
| 40,240 | First Bancshares, Inc | 1,151 | ||||||||
| 11,896 | First Bank | 166 | ||||||||
| 106,776 | First Busey Corp | 2,440 | ||||||||
| 6,423 | First Business Financial Services, Inc | 200 | ||||||||
| 1,445 | e | First Citizens Bancshares, Inc (Class A) | 945 | |||||||
| 78,817 | First Commonwealth Financial Corp | 1,058 | ||||||||
| 14,297 | First Community Bancshares, Inc | 420 | ||||||||
| 77,310 | First Financial Bancorp | 1,500 | ||||||||
| 339,670 | First Financial Bankshares, Inc | 13,339 | ||||||||
| 34,940 | First Financial Corp | 1,555 | ||||||||
| 7,455,161 | First Financial Holding Co Ltd | 6,580 | ||||||||
| 184,225 | First Foundation, Inc | 3,773 | ||||||||
| 4,476 | e | First Guaranty Bancshares, Inc | 109 | |||||||
| 87,850 | First Hawaiian, Inc | 1,995 | ||||||||
| 551,678 | First Horizon National Corp | 12,060 | ||||||||
| 130,340 | First International Bank Of Israel Ltd | 4,884 | ||||||||
| 7,811 | First Internet Bancorp | 288 | ||||||||
| 224,719 | First Interstate Bancsystem, Inc | 8,564 | ||||||||
| 90,867 | First Merchants Corp | 3,237 | ||||||||
| 15,859 | First Mid-Illinois Bancshares, Inc | 566 | ||||||||
| 21,647 | e | First National Financial Corp | 557 | |||||||
| 18,955 | First of Long Island Corp | 332 | ||||||||
| 512,521 | First Republic Bank | 73,906 | ||||||||
| 10 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 6,359 | * | First Western Financial, Inc | $ | 173 | ||||||
| 15,224 | Five Star Bancorp | 402 | ||||||||
| 42,794 | Flagstar Bancorp, Inc | 1,517 | ||||||||
| 24,852 | Flushing Financial Corp | 528 | ||||||||
| 27,912 | FNB Corp | 303 | ||||||||
| 5,200 | *,† | FS Finans A.S. | 0 | ^ | ||||||
| 207,600 | Fukuoka Financial Group, Inc | 3,739 | ||||||||
| 129,779 | Fulton Financial Corp | 1,875 | ||||||||
| 9,150 | * | FVCBankcorp, Inc | 172 | |||||||
| 534,601 | Genworth Mortgage Insurance Australia Ltd | 851 | ||||||||
| 21,619 | German American Bancorp, Inc | 739 | ||||||||
| 189,012 | Glacier Bancorp, Inc | 8,963 | ||||||||
| 8,408 | Great Southern Bancorp, Inc | 492 | ||||||||
| 519 | e | Greene County Bancorp, Inc | 24 | |||||||
| 3,023,361 | Grupo Financiero Banorte S.A. de C.V. | 16,864 | ||||||||
| 1,534,677 | *,e | Grupo Financiero Inbursa S.A. | 2,444 | |||||||
| 7,260 | Guaranty Bancshares, Inc | 263 | ||||||||
| 1,265,512 | Gulf Bank KSCP | 1,317 | ||||||||
| 381,900 | Gunma Bank Ltd | 1,079 | ||||||||
| 411,500 | Hachijuni Bank Ltd | 1,520 | ||||||||
| 2,397,031 | Haci Omer Sabanci Holding AS | 2,716 | ||||||||
| 215,084 | Hana Financial Group, Inc | 6,537 | ||||||||
| 143,758 | Hancock Whitney Corp | 6,373 | ||||||||
| 846,457 | Hang Seng Bank Ltd | 15,000 | ||||||||
| 83,321 | Hanmi Financial Corp | 1,870 | ||||||||
| 40,250 | HarborOne Northeast Bancorp, Inc | 555 | ||||||||
| 9,315 | HBT Financial, Inc | 166 | ||||||||
| 407,255 | HDFC Bank Ltd (ADR) | 22,383 | ||||||||
| 42,906 | Heartland Financial USA, Inc | 1,782 | ||||||||
| 62,102 | Heritage Commerce Corp | 664 | ||||||||
| 29,430 | Heritage Financial Corp | 740 | ||||||||
| 128,743 | Hilltop Holdings, Inc | 3,432 | ||||||||
| 1,201 | Hingham Institution for Savings | 341 | ||||||||
| 284,702 | Hirogin Holdings, Inc | 1,327 | ||||||||
| 26,200 | Hokkoku Financial Holdings, Inc | 891 | ||||||||
| 139,960 | Hokuhoku Financial Group, Inc | 865 | ||||||||
| 6,297 | Home Bancorp, Inc | 215 | ||||||||
| 689,479 | Home Bancshares, Inc | 14,320 | ||||||||
| 46,437 | e | Home Capital Group, Inc | 879 | |||||||
| 26,101 | *,g | Home First Finance Co India Ltd | 246 | |||||||
| 4,573 | e | Home Point Capital, Inc | 18 | |||||||
| 34,200 | HomeStreet, Inc | 1,186 | ||||||||
| 10,964 | HomeTrust Bancshares, Inc | 274 | ||||||||
| 456,412 | Hong Leong Bank BHD | 2,121 | ||||||||
| 160,570 | Hong Leong Credit BHD | 674 | ||||||||
| 95,555 | Hope Bancorp, Inc | 1,322 | ||||||||
| 34,194 | Horizon Bancorp | 596 | ||||||||
| 2,511,784 | Housing Development Finance Corp | 69,493 | ||||||||
| 18,321,189 | HSBC Holdings plc | 119,684 | ||||||||
| 5,873,004 | Hua Nan Financial Holdings Co Ltd | 4,472 | ||||||||
| 585,986 | Huaxia Bank Co Ltd | 457 | ||||||||
| 3,720,715 | Huntington Bancshares, Inc | 44,760 | ||||||||
| 11 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 250,774 | Hyakugo Bank Ltd | $ | 607 | |||||||
| 6,971,108 | ICICI Bank Ltd | 62,628 | ||||||||
| 1,242,061 | ICICI Bank Ltd (ADR) | 22,034 | ||||||||
| 3,978,833 | * | IDFC Bank Ltd | 1,591 | |||||||
| 144,890 | IIFL Finance Ltd | 596 | ||||||||
| 17,228 | Independent Bank Corp | 332 | ||||||||
| 38,937 | Independent Bank Corp | 3,093 | ||||||||
| 35,846 | Independent Bank Group, Inc | 2,434 | ||||||||
| 398,948 | * | Indiabulls Housing Finance Ltd | 481 | |||||||
| 299,964 | Indian Bank | 572 | ||||||||
| 2,793,739 | Industrial & Commercial Bank of China Ltd - A | 1,992 | ||||||||
| 65,539,914 | * | Industrial & Commercial Bank of China Ltd - H | 39,104 | |||||||
| 914,305 | Industrial Bank Co Ltd | 2,725 | ||||||||
| 198,326 | Industrial Bank of Korea | 1,473 | ||||||||
| 20,402,061 | ING Groep NV | 200,993 | ||||||||
| 42,493 | e | Intercorp Financial Services, Inc | 994 | |||||||
| 112,892 | International Bancshares Corp | 4,525 | ||||||||
| 13,209,114 | Intesa Sanpaolo S.p.A. | 24,720 | ||||||||
| 5,748,821 | Investimentos Itau S.A. - PR | 9,161 | ||||||||
| 3,981,199 | iShares Core MSCI EAFE ETF | 234,294 | ||||||||
| 598,248 | Israel Discount Bank Ltd | 3,133 | ||||||||
| 221,909,749 | Itau CorpBanca Chile SA | 415 | ||||||||
| 7,775,750 | Itau Unibanco Holding S.A. | 33,683 | ||||||||
| 269,754 | Iyo Bank Ltd | 1,326 | ||||||||
| 702,077 | Japan Post Bank Co Ltd | 5,466 | ||||||||
| 231,134 | JB Financial Group Co Ltd | 1,311 | ||||||||
| 9,062 | e | John Marshall Bancorp, Inc | 204 | |||||||
| 4,823,481 | JPMorgan Chase & Co | 543,172 | ||||||||
| 638,232 | *,e | Judo Capital Holdings Ltd | 533 | |||||||
| 33,240 | Juroku Financial Group, Inc | 574 | ||||||||
| 59,332 | * | Jyske Bank | 2,924 | |||||||
| 84,153 | *,e | KakaoBank Corp | 1,966 | |||||||
| 528,899 | Karur Vysya Bank Ltd | 303 | ||||||||
| 1,068,274 | KB Financial Group, Inc | 39,893 | ||||||||
| 60,361 | e | KBC Ancora | 2,221 | |||||||
| 564,307 | KBC Groep NV | 31,748 | ||||||||
| 52,715 | Kearny Financial Corp | 586 | ||||||||
| 99,848 | Keiyo Bank Ltd | 351 | ||||||||
| 88,122 | Keycorp | 1,518 | ||||||||
| 321,600 | Kiatnakin Bank PCL (Foreign) | 565 | ||||||||
| 1,578,000 | King’s Town Bank | 1,879 | ||||||||
| 59,719 | Kiyo Bank Ltd | 588 | ||||||||
| 58,978 | Komercni Banka AS | 1,670 | ||||||||
| 395,276 | Kotak Mahindra Bank Ltd | 8,360 | ||||||||
| 4,364,096 | Krung Thai Bank PCL | 1,918 | ||||||||
| 6,220,392 | Kuwait Finance House | 17,685 | ||||||||
| 623,736 | Kuwait International Bank KSCP | 419 | ||||||||
| 980,982 | Kuwait Projects Co Holding KSCP | 471 | ||||||||
| 422,700 | Kyushu Financial Group, Inc | 1,211 | ||||||||
| 51,597 | Lakeland Bancorp, Inc | 754 | ||||||||
| 5,502 | Lakeland Financial Corp | 365 | ||||||||
| 52,252 | e | Laurentian Bank of Canada | 1,570 | |||||||
| 12 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 345,761 | LIC Housing Finance Ltd | $ | 1,440 | |||||||
| 86,223 | Live Oak Bancshares, Inc | 2,922 | ||||||||
| 58,041,679 | Lloyds TSB Group plc | 29,863 | ||||||||
| 12,525 | Luther Burbank Corp | 163 | ||||||||
| 882,772 | M&T Bank Corp | 140,705 | ||||||||
| 23,267 | Macatawa Bank Corp | 206 | ||||||||
| 8,076,758 | Malayan Banking BHD | 15,741 | ||||||||
| 2,502,800 | Malaysia Building Society | 330 | ||||||||
| 4,026,373 | Masraf Al Rayan | 4,571 | ||||||||
| 1,220,900 | Mebuki Financial Group Inc | 2,408 | ||||||||
| 1,096,093 | Mediobanca S.p.A. | 9,506 | ||||||||
| 12,748,076 | Mega Financial Holding Co Ltd | 15,148 | ||||||||
| 12,233 | Mercantile Bank Corp | 391 | ||||||||
| 12,981 | Merchants Bancorp | 294 | ||||||||
| 80,670 | Meta Financial Group, Inc | 3,120 | ||||||||
| 13,029 | Metrocity Bankshares, Inc | 265 | ||||||||
| 1,204,844 | Metropolitan Bank & Trust | 1,048 | ||||||||
| 7,685 | * | Metropolitan Bank Holding Corp | 534 | |||||||
| 253,726 | MGIC Investment Corp | 3,197 | ||||||||
| 11,992 | Mid Penn Bancorp, Inc | 323 | ||||||||
| 18,344 | Midland States Bancorp, Inc | 441 | ||||||||
| 11,130 | e | MidWestOne Financial Group, Inc | 331 | |||||||
| 18,293,186 | Mitsubishi UFJ Financial Group, Inc | 97,869 | ||||||||
| 107,553 | Mizrahi Tefahot Bank Ltd | 3,581 | ||||||||
| 2,910,158 | Mizuho Financial Group, Inc | 33,132 | ||||||||
| 237,592 | g | Moneta Money Bank AS | 862 | |||||||
| 60,399 | * | Mr Cooper Group, Inc | 2,219 | |||||||
| 29,768 | Musashino Bank Ltd | 392 | ||||||||
| 8,779 | MVB Financial Corp | 273 | ||||||||
| 28,549 | Nanto Bank Ltd | 419 | ||||||||
| 3,581,312 | National Australia Bank Ltd | 67,912 | ||||||||
| 148,310 | National Bank Holdings Corp | 5,676 | ||||||||
| 5,140,694 | National Bank of Abu Dhabi PJSC | 26,306 | ||||||||
| 475,068 | e | National Bank of Canada | 31,175 | |||||||
| 395,319 | * | National Bank of Greece S.A. | 1,183 | |||||||
| 8,165,335 | National Bank of Kuwait SAKP | 27,780 | ||||||||
| 2,197,629 | National Commercial Bank | 38,684 | ||||||||
| 17,213,562 | Natwest Group plc | 45,818 | ||||||||
| 100,353 | NBT Bancorp, Inc | 3,772 | ||||||||
| 334,432 | Nedbank Group Ltd | 4,281 | ||||||||
| 39,371 | e | New York Community Bancorp, Inc | 359 | |||||||
| 9,379 | * | Nicolet Bankshares, Inc | 678 | |||||||
| 147,964 | Nishi-Nippon Financial Holdings, Inc | 819 | ||||||||
| 217,398 | * | NMI Holdings, Inc | 3,620 | |||||||
| 12,122,284 | Nordea Bank Abp | 107,199 | ||||||||
| 3,350,927 | Nordea Bank Abp | 29,600 | ||||||||
| 294,397 | North Pacific Bank Ltd | 485 | ||||||||
| 5,409 | Northeast Bank | 198 | ||||||||
| 38,389 | Northfield Bancorp, Inc | 500 | ||||||||
| 209,019 | Northwest Bancshares, Inc | 2,675 | ||||||||
| 216,537 | Nova Ljubljanska Banka dd (GDR) | 2,655 | ||||||||
| 1,133,000 | O-Bank Co Ltd | 332 | ||||||||
| 13 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 107,904 | OceanFirst Financial Corp | $ | 2,064 | |||||||
| 310,354 | OFG Bancorp | 7,883 | ||||||||
| 31,007 | Ogaki Kyoritsu Bank Ltd | 395 | ||||||||
| 27,000 | Okinawa Financial Group, Inc | 437 | ||||||||
| 442,955 | Old National Bancorp | 6,551 | ||||||||
| 95,107 | Old Second Bancorp, Inc | 1,273 | ||||||||
| 39,134 | Origin Bancorp, Inc | 1,518 | ||||||||
| 9,078 | Orrstown Financial Services, Inc | 219 | ||||||||
| 504,820 | OSB Group plc | 2,967 | ||||||||
| 144,154 | OTP Bank | 3,234 | ||||||||
| 4,179,671 | Oversea-Chinese Banking Corp | 34,286 | ||||||||
| 77,349 | Pacific Premier Bancorp, Inc | 2,262 | ||||||||
| 406,129 | PacWest Bancorp | 10,827 | ||||||||
| 292,868 | Paragon Group of Cos plc | 1,748 | ||||||||
| 11,884 | e | Park National Corp | 1,441 | |||||||
| 8,104 | * | Parke Bancorp, Inc | 170 | |||||||
| 9,400 | PCB Bancorp | 176 | ||||||||
| 17,722 | PCSB Financial Corp | 338 | ||||||||
| 15,323 | Peapack Gladstone Financial Corp | 455 | ||||||||
| 24,458 | PennyMac Financial Services, Inc | 1,069 | ||||||||
| 22,790 | Peoples Bancorp, Inc | 606 | ||||||||
| 5,898 | Peoples Financial Services Corp | 329 | ||||||||
| 223,171 | Pepper Money Ltd | 182 | ||||||||
| 1,657,919 | * | Permanent TSB Group Holdings plc | 2,302 | |||||||
| 847,384 | * | Ping An Bank Co Ltd | 1,902 | |||||||
| 136,198 | Pinnacle Financial Partners, Inc | 9,848 | ||||||||
| 10,964 | * | Pioneer Bancorp, Inc | 107 | |||||||
| 789,818 | * | Piraeus Financial Holdings S.A. | 787 | |||||||
| 65,710 | *,g | PNB Housing Finance Ltd | 276 | |||||||
| 812,718 | PNC Financial Services Group, Inc | 128,223 | ||||||||
| 66,778 | Popular, Inc | 5,137 | ||||||||
| 1,248,937 | Postal Savings Bank of China Co Ltd - A | 1,008 | ||||||||
| 23,401,972 | e,g | Postal Savings Bank of China Co Ltd - H | 18,649 | |||||||
| 616,747 | * | Powszechna Kasa Oszczednosci Bank Polski S.A. | 3,868 | |||||||
| 179,052 | Preferred Bank | 12,179 | ||||||||
| 29,852 | Premier Financial Corp | 757 | ||||||||
| 48,055 | Primis Financial Corp | 655 | ||||||||
| 9,790 | * | Professional Holding Corp | 196 | |||||||
| 78,112 | Prosperity Bancshares, Inc | 5,333 | ||||||||
| 13,397 | Provident Bancorp Inc | 210 | ||||||||
| 60,891 | Provident Financial Services, Inc | 1,355 | ||||||||
| 23,327,000 | * | PT Bank Bukopin Tbk | 283 | |||||||
| 23,230,985 | PT Bank Mandiri Persero Tbk | 12,406 | ||||||||
| 29,968,753 | PT Bank Negara Indonesia | 15,831 | ||||||||
| 16,690,705 | Public Bank BHD | 16,557 | ||||||||
| 522,896 | Qatar International Islamic Bank QSC | 1,532 | ||||||||
| 1,168,221 | Qatar Islamic Bank SAQ | 7,137 | ||||||||
| 7,788,082 | Qatar National Bank | 42,754 | ||||||||
| 14,325 | QCR Holdings, Inc | 773 | ||||||||
| 164,441 | Qingdao Rural Commercial Bank Corp | 82 | ||||||||
| 442,715 | Radian Group, Inc | 8,699 | ||||||||
| 172,513 | Raiffeisen International Bank Holding AG. | 1,885 | ||||||||
| 14 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 12,124 | RBB Bancorp | $ | 251 | |||||||
| 5,512,500 | *,g | RBL Bank Ltd | 5,854 | |||||||
| 4,207 | Red River Bancshares Inc | 228 | ||||||||
| 279,800 | e | Regional SAB de C.V. | 1,323 | |||||||
| 298,751 | Regions Financial Corp | 5,602 | ||||||||
| 205,066 | Renasant Corp | 5,908 | ||||||||
| 7,347 | Republic Bancorp, Inc (Class A) | 355 | ||||||||
| 40,246 | *,e | Republic First Bancorp, Inc | 153 | |||||||
| 2,341,400 | Resona Holdings, Inc | 8,758 | ||||||||
| 1,088,157 | RHB Capital BHD | 1,415 | ||||||||
| 31,605 | Ringkjoebing Landbobank A.S. | 3,458 | ||||||||
| 1,719,806 | Riyad Bank | 14,757 | ||||||||
| 134,183 | e | Rocket Cos, Inc | 988 | |||||||
| 1,812,689 | Royal Bank of Canada | 175,523 | ||||||||
| 32,868 | S&T Bancorp, Inc | 902 | ||||||||
| 36,132 | Sandy Spring Bancorp, Inc | 1,412 | ||||||||
| 160,864 | San-In Godo Bank Ltd | 778 | ||||||||
| 2,039,851 | Saudi British Bank | 22,156 | ||||||||
| 545,414 | Saudi Investment Bank | 2,843 | ||||||||
| 974,661 | SCB X PCL | 2,936 | ||||||||
| 49,615 | e | Seacoast Banking Corp of Florida | 1,639 | |||||||
| 485,610 | Security Bank Corp | 808 | ||||||||
| 9,121 | ServisFirst Bancshares, Inc | 720 | ||||||||
| 752,300 | Seven Bank Ltd | 1,437 | ||||||||
| 2,528,978 | Shanghai Commercial & Savings Bank Ltd | 4,524 | ||||||||
| 1,354,234 | Shanghai Pudong Development Bank Co Ltd | 1,623 | ||||||||
| 43,600 | Shiga Bank Ltd | 890 | ||||||||
| 527,099 | Shinhan Financial Group Co Ltd | 15,114 | ||||||||
| 88,000 | * | Shinsei Bank Ltd | 1,326 | |||||||
| 356,847 | Shizuoka Bank Ltd | 2,149 | ||||||||
| 14,237 | e | Shore Bancshares, Inc | 263 | |||||||
| 12,114 | Sierra Bancorp | 263 | ||||||||
| 59,011 | Signature Bank | 10,575 | ||||||||
| 27,622 | * | Silvergate Capital Corp | 1,479 | |||||||
| 103,973 | Simmons First National Corp (Class A) | 2,210 | ||||||||
| 7,227,617 | SinoPac Financial Holdings Co Ltd | 4,086 | ||||||||
| 1,064,827 | e | Skandinaviska Enskilda Banken AB (Class A) | 10,491 | |||||||
| 13,023 | SmartFinancial, Inc | 315 | ||||||||
| 118,275 | Societe Generale | 2,615 | ||||||||
| 20,817 | South Plains Financial Inc | 503 | ||||||||
| 62,530 | South State Corp | 4,824 | ||||||||
| 6,377 | * | Southern First Bancshares, Inc | 278 | |||||||
| 6,419 | Southern Missouri Bancorp, Inc | 291 | ||||||||
| 25,692 | Southside Bancshares, Inc | 961 | ||||||||
| 108,039 | Spar Nord Bank AS | 1,147 | ||||||||
| 54,801 | Sparebank Oestlandet | 657 | ||||||||
| 204,839 | SpareBank SR-Bank ASA | 2,232 | ||||||||
| 151,847 | Sparebanken Midt-Norge | 1,793 | ||||||||
| 168,737 | Sparebanken Nord-Norge | 1,499 | ||||||||
| 3,354 | St Galler Kantonalbank | 1,543 | ||||||||
| 5,499,945 | Standard Bank Group Ltd | 52,474 | ||||||||
| 6,253,196 | Standard Chartered plc | 47,208 | ||||||||
| 15 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 3,834,696 | State Bank of India | $ | 22,742 | |||||||
| 13,638 | * | Sterling Bancorp, Inc | 78 | |||||||
| 7,501 | Stock Yards Bancorp, Inc | 449 | ||||||||
| 2,379,328 | Sumitomo Mitsui Financial Group, Inc | 70,726 | ||||||||
| 434,063 | Sumitomo Mitsui Trust Holdings, Inc | 13,415 | ||||||||
| 9,104 | Summit Financial Group, Inc | 253 | ||||||||
| 247,864 | Suruga Bank Ltd | 673 | ||||||||
| 48,020 | * | SVB Financial Group | 18,967 | |||||||
| 222,083 | Svenska Handelsbanken AB | 1,906 | ||||||||
| 313,638 | Swedbank AB (A Shares) | 3,978 | ||||||||
| 107,710 | Sydbank AS | 3,315 | ||||||||
| 12,197 | Synovus Financial Corp | 440 | ||||||||
| 3,407,000 | Taichung Commercial Bank | 1,554 | ||||||||
| 7,336,924 | Taishin Financial Holdings Co Ltd | 4,025 | ||||||||
| 6,676,000 | Taiwan Business Bank | 2,598 | ||||||||
| 6,786,844 | Taiwan Cooperative Financial Holding | 6,137 | ||||||||
| 50,252 | TBC Bank Group plc | 773 | ||||||||
| 66,172 | * | Texas Capital Bancshares, Inc | 3,483 | |||||||
| 32,042 | Texcell-NetCom Co Ltd | 211 | ||||||||
| 5,710 | TFS Financial Corp | 78 | ||||||||
| 497,300 | Thanachart Capital PCL | 531 | ||||||||
| 25,318 | * | The Bancorp, Inc | 494 | |||||||
| 10,158 | *,e | Third Coast Bancshares, Inc | 222 | |||||||
| 142,346 | e | Timbercreek Financial Corp | 879 | |||||||
| 196,600 | Tisco Bank PCL | 493 | ||||||||
| 191,143 | Toho Bank Ltd | 294 | ||||||||
| 134,864 | Tomony Holdings, Inc | 311 | ||||||||
| 11,865 | e | Tompkins Financial Corp | 855 | |||||||
| 2,328,551 | e | Toronto-Dominion Bank | 152,698 | |||||||
| 55,292 | e | Towne Bank | 1,501 | |||||||
| 74,453 | Trico Bancshares | 3,398 | ||||||||
| 13,808 | * | Triumph Bancorp, Inc | 864 | |||||||
| 1,270,133 | Truist Financial Corp | 60,242 | ||||||||
| 16,023 | TrustCo Bank Corp NY | 494 | ||||||||
| 88,187 | Trustmark Corp | 2,574 | ||||||||
| 2,442,557 | Turkiye Is Bankasi (Series C) | 645 | ||||||||
| 50,840 | UMB Financial Corp | 4,377 | ||||||||
| 16,904 | Umpqua Holdings Corp | 283 | ||||||||
| 1,667,002 | g | Unicaja Banco S.A. | 1,636 | |||||||
| 297,479 | UniCredit S.p.A. | 2,843 | ||||||||
| 2,275,000 | Union Bank Of Taiwan | 1,170 | ||||||||
| 109,007 | United Bankshares, Inc | 3,823 | ||||||||
| 88,460 | United Community Banks, Inc | 2,671 | ||||||||
| 1,307,927 | United Overseas Bank Ltd | 24,710 | ||||||||
| 5,619 | Unity Bancorp, Inc | 149 | ||||||||
| 85,823 | Univest Financial Corp | 2,183 | ||||||||
| 2,770,421 | US Bancorp | 127,495 | ||||||||
| 8,762 | * | USCB Financial Holdings, Inc | 101 | |||||||
| 96,908 | e | UWM Holdings Corp | 343 | |||||||
| 17,568 | Valiant Holding | 1,546 | ||||||||
| 358,315 | Valley National Bancorp | 3,730 | ||||||||
| 263,298 | Van Lanschot Kempen NV | 6,122 | ||||||||
| 9,164 | *,e | Velocity Financial, Inc | 101 | |||||||
| 16 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 373,810 | Veritex Holdings, Inc | $ | 10,938 | |||||||
| 1,501,867 | Virgin Money UK plc | 2,406 | ||||||||
| 635,093 | † | VTB Bank PJSC (GDR) Equiduct | 6 | |||||||
| 664,707 | *,† | VTB Bank PJSC (GDR) Tradegate | 7 | |||||||
| 11,725 | Walker & Dunlop, Inc | 1,130 | ||||||||
| 1,249,212 | * | Warba Bank KSCP | 991 | |||||||
| 112,456 | Washington Federal, Inc | 3,376 | ||||||||
| 14,534 | Washington Trust Bancorp, Inc | 703 | ||||||||
| 17,191 | Waterstone Financial, Inc | 293 | ||||||||
| 29,281 | Webster Financial Corp | 1,234 | ||||||||
| 12,010,834 | Wells Fargo & Co | 470,464 | ||||||||
| 48,335 | WesBanco, Inc | 1,533 | ||||||||
| 11,677 | West Bancorporation, Inc | 284 | ||||||||
| 48,004 | Westamerica Bancorporation | 2,672 | ||||||||
| 27,159 | Western Alliance Bancorp | 1,917 | ||||||||
| 3,890,892 | Westpac Banking Corp | 52,484 | ||||||||
| 184,285 | Wintrust Financial Corp | 14,770 | ||||||||
| 372,750 | Woori Financial Group, Inc | 3,489 | ||||||||
| 53,339 | WSFS Financial Corp | 2,138 | ||||||||
| 417,699 | Yamaguchi Financial Group, Inc | 2,294 | ||||||||
| 8,092,568 | * | Yes Bank Ltd | 1,300 | |||||||
| 69,219 | Zions Bancorporation | 3,523 | ||||||||
| TOTAL BANKS | 7,418,121 | |||||||||
| CAPITAL GOODS - 6.9% | ||||||||||
| 287,401 | 3M Co | 37,193 | ||||||||
| 2,842 | * | 3M India Ltd | 788 | |||||||
| 121,060 | A.O. Smith Corp | 6,620 | ||||||||
| 179,254 | Aalberts Industries NV | 6,961 | ||||||||
| 2,193,774 | Aamal Co | 648 | ||||||||
| 7,006 | Aaon, Inc | 384 | ||||||||
| 28,189 | * | AAR Corp | 1,179 | |||||||
| 782,241 | ABB Ltd | 20,978 | ||||||||
| 9,478 | * | ABB Power Products & Systems India Ltd | 380 | |||||||
| 1,854,229 | Aboitiz Equity Ventures, Inc | 1,603 | ||||||||
| 377,000 | AcBel Polytech, Inc | 365 | ||||||||
| 27,177 | Ackermans & Van Haaren | 4,066 | ||||||||
| 30,913 | e | ACS Actividades de Construccion y Servicios S.A. | 753 | |||||||
| 114,740 | Acuity Brands, Inc | 17,675 | ||||||||
| 315,187 | Adani Enterprises Ltd | 8,773 | ||||||||
| 387,307 | AddTech AB | 5,068 | ||||||||
| 84,999 | Advanced Drainage Systems, Inc | 7,656 | ||||||||
| 25,000 | Advanced Energy Solution Holding Co Ltd | 816 | ||||||||
| 50,527 | AECC Aero-Engine Control Co Ltd | 212 | ||||||||
| 118,752 | AECC Aviation Power Co Ltd | 807 | ||||||||
| 202,788 | Aecom Technology Corp | 13,226 | ||||||||
| 72,579 | e | Aecon Group, Inc | 740 | |||||||
| 141,021 | * | AerCap Holdings NV | 5,773 | |||||||
| 260,600 | Aeris Industria E Comercio De Equipamentos Para Geracao De Energia S.A. | 139 | ||||||||
| 54,569 | * | Aerojet Rocketdyne Holdings, Inc | 2,216 | |||||||
| 10,691 | * | Aerovironment, Inc | 879 | |||||||
| 14,363 | * | AerSale Corp | 208 | |||||||
| 17 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 60,115 | AFG Arbonia-Forster Hldg | $ | 800 | |||||||
| 22,596 | e | AG Growth International Inc | 521 | |||||||
| 25,259 | AGCO Corp | 2,493 | ||||||||
| 50,423 | AIA Engineering Ltd | 1,424 | ||||||||
| 29,600 | Aichi Corp | 187 | ||||||||
| 54,241 | Aida Engineering Ltd | 363 | ||||||||
| 94,120 | Air Lease Corp | 3,146 | ||||||||
| 1,288,284 | Airbus SE | 126,007 | ||||||||
| 155,226 | * | Airtac International Group | 5,181 | |||||||
| 25,817 | Aker ASA (A Shares) | 1,995 | ||||||||
| 5,418 | Alamo Group, Inc | 631 | ||||||||
| 173,413 | Alarko Holding AS | 341 | ||||||||
| 22,669 | Albany International Corp (Class A) | 1,786 | ||||||||
| 40,960 | Alfa Laval AB | 993 | ||||||||
| 3,322,000 | e | Alfa S.A. de C.V. (Class A) | 2,359 | |||||||
| 25,304 | *,g | Alfen Beheer BV | 2,327 | |||||||
| 37,378 | g | Alimak Group AB | 282 | |||||||
| 259,161 | Allegion plc | 25,372 | ||||||||
| 3,724,600 | Alliance Global Group, Inc | 596 | ||||||||
| 2,866 | Allied Motion Technologies, Inc | 65 | ||||||||
| 198,512 | Allison Transmission Holdings, Inc | 7,633 | ||||||||
| 389,152 | e | Alstom RGPT | 8,886 | |||||||
| 116,733 | * | Alta Equipment Group, Inc | 1,047 | |||||||
| 91,929 | Altra Industrial Motion Corp | 3,241 | ||||||||
| 679,700 | Amada Co Ltd | 5,011 | ||||||||
| 119,379 | Amara Raja Batteries Ltd | 695 | ||||||||
| 5,379 | * | Ameresco, Inc | 245 | |||||||
| 13,371 | * | American Woodmark Corp | 602 | |||||||
| 21,688 | Ametek, Inc | 2,383 | ||||||||
| 438,642 | e | Andritz AG. | 17,706 | |||||||
| 332,485 | * | API Group Corp | 4,977 | |||||||
| 4,333 | Apogee Enterprises, Inc | 170 | ||||||||
| 27,096 | * | Apollo Tricoat Tubes Ltd | 282 | |||||||
| 237,184 | Applied Industrial Technologies, Inc | 22,810 | ||||||||
| 3,510 | Arad Investment & Industrial Development Ltd | 391 | ||||||||
| 171,157 | Arcadis NV | 5,732 | ||||||||
| 100,350 | *,e | Archer Aviation, Inc | 309 | |||||||
| 40,088 | Arcosa, Inc | 1,861 | ||||||||
| 12,214 | Argan, Inc | 456 | ||||||||
| 122,100 | Armac Locacao Logistica E Servicos S.A. | 283 | ||||||||
| 45,513 | Armstrong World Industries, Inc | 3,412 | ||||||||
| 247,564 | * | Array Technologies, Inc | 2,726 | |||||||
| 516,439 | e | Asahi Glass Co Ltd | 18,146 | |||||||
| 821,888 | Aselsan Elektronik Sanayi Ve Ticaret AS | 1,127 | ||||||||
| 1,731,429 | Ashok Leyland Ltd | 3,249 | ||||||||
| 1,763,762 | Ashtead Group plc | 74,199 | ||||||||
| 46,713 | Ashtrom Group Ltd | 1,034 | ||||||||
| 1,271,018 | Assa Abloy AB | 27,124 | ||||||||
| 18,587 | Astec Industries, Inc | 758 | ||||||||
| 43,161 | Astra Industrial Group | 536 | ||||||||
| 116,603 | *,e | Astra Space, Inc | 152 | |||||||
| 123,502 | Astral Polytechnik Ltd | 2,598 | ||||||||
| 18 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 23,693 | * | Astronics Corp | $ | 241 | ||||||
| 231,005 | * | Atkore International Group, Inc | 19,176 | |||||||
| 2,047,042 | * | Atlas Copco AB | 19,160 | |||||||
| 491,836 | * | Atlas Copco AB | 4,121 | |||||||
| 86,110 | * | ATS Automation Tooling Systems, Inc | 2,365 | |||||||
| 382,817 | Austal Ltd | 476 | ||||||||
| 169,831 | AVIC Electromechanical Systems Co Ltd | 314 | ||||||||
| 2,062,037 | AviChina Industry & Technology Co | 1,179 | ||||||||
| 26,859 | * | AVICOPTER plc | 181 | |||||||
| 37,688 | Avon Rubber plc | 451 | ||||||||
| 71,686 | * | Axon Enterprise, Inc | 6,679 | |||||||
| 178,357 | Ayala Corp | 1,948 | ||||||||
| 200,984 | * | AZEK Co, Inc | 3,364 | |||||||
| 49,385 | AZZ, Inc | 2,016 | ||||||||
| 11,458 | * | Babcock & Wilcox Enterprises, Inc | 69 | |||||||
| 295,375 | * | Babcock International Group | 1,115 | |||||||
| 41,762 | e | Badger Infrastructure Solution | 916 | |||||||
| 3,385,880 | BAE Systems plc | 34,279 | ||||||||
| 741,950 | Balfour Beatty plc | 2,296 | ||||||||
| 276,957 | *,e | Ballard Power Systems, Inc | 1,749 | |||||||
| 191,420 | e | Barloworld Ltd | 1,056 | |||||||
| 60,654 | Barnes Group, Inc | 1,889 | ||||||||
| 16,707 | BayWa AG. | 742 | ||||||||
| 20,475 | * | Beacon Roofing Supply, Inc | 1,052 | |||||||
| 77,138 | Beijer Alma AB | 1,275 | ||||||||
| 289,078 | e | Beijer Ref AB | 3,964 | |||||||
| 124,212 | Beijing New Building Materials plc | 644 | ||||||||
| 16,300 | Beijing United Information Technology Co Ltd | 216 | ||||||||
| 11,443 | Belimo Holding AG. | 4,029 | ||||||||
| 23,491 | BEML Ltd | 375 | ||||||||
| 7,647 | * | Berkshire Grey, Inc | 11 | |||||||
| 1,429,000 | BES Engineering Corp | 416 | ||||||||
| 34,602 | BGF Co Ltd | 111 | ||||||||
| 42,064 | Bharat Dynamics Ltd | 363 | ||||||||
| 1,412,704 | Bharat Electronics Ltd | 4,192 | ||||||||
| 1,094,902 | * | Bharat Heavy Electricals | 625 | |||||||
| 328,452 | Bidvest Group Ltd | 4,231 | ||||||||
| 15,467 | Biesse S.p.A. | 206 | ||||||||
| 155,000 | Bizlink Holdings Inc | 1,611 | ||||||||
| 6,510 | *,e | Blink Charging Co | 108 | |||||||
| 569,871 | *,e | Bloom Energy Corp | 9,403 | |||||||
| 3,279 | * | Blue Bird Corp | 30 | |||||||
| 70,160 | Blue Star Ltd | 806 | ||||||||
| 16,184 | * | BlueLinx Holdings, Inc | 1,081 | |||||||
| 9,793 | Bobst Group AG. | 630 | ||||||||
| 536,006 | g | BOC Aviation Ltd | 4,532 | |||||||
| 227,015 | Bodycote plc | 1,461 | ||||||||
| 1,372,876 | * | Boeing Co | 187,700 | |||||||
| 107,523 | Boise Cascade Co | 6,397 | ||||||||
| 101,216 | * | Bombardier, Inc | 1,519 | |||||||
| 24,931 | Bonheur ASA | 909 | ||||||||
| 89,032 | Boskalis Westminster | 2,983 | ||||||||
| 19 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 6,518 | Bossard Holding AG. | $ | 1,265 | |||||||
| 240,216 | e | Bouygues S.A. | 7,414 | |||||||
| 205,177 | Brenntag AG. | 13,435 | ||||||||
| 449,000 | Brighton-Best International Taiwan, Inc | 532 | ||||||||
| 6,716 | e | Brookfield Business Corp | 155 | |||||||
| 10,839 | Bucher Industries AG. | 3,783 | ||||||||
| 14,635 | Budimex S.A. | 752 | ||||||||
| 49,471 | Bufab AB | 1,288 | ||||||||
| 296,047 | * | Builders FirstSource, Inc | 15,898 | |||||||
| 67,100 | Bunka Shutter Co Ltd | 494 | ||||||||
| 353,220 | Bunzl plc | 11,731 | ||||||||
| 9,878 | Burckhardt Compression Holding AG. | 4,156 | ||||||||
| 5,318 | Burkhalter Holding AG. | 419 | ||||||||
| 33,360 | BWX Technologies, Inc | 1,838 | ||||||||
| 2,978 | Cadre Holdings, Inc | 59 | ||||||||
| 377,700 | * | CAE, Inc | 9,308 | |||||||
| 20,533 | e | Caesarstone Sdot-Yam Ltd | 187 | |||||||
| 19,422 | Carbone Lorraine | 583 | ||||||||
| 46,769 | g | Carel Industries S.p.A | 930 | |||||||
| 45,651 | Cargotec Corp (B Shares) | 1,209 | ||||||||
| 133,247 | Carlisle Cos, Inc | 31,794 | ||||||||
| 4,929,397 | Carrier Global Corp | 175,782 | ||||||||
| 826,617 | Caterpillar, Inc | 147,766 | ||||||||
| 91,700 | Central Glass Co Ltd | 2,088 | ||||||||
| 5,180 | Cera Sanitaryware Ltd | 271 | ||||||||
| 141,748 | *,e | Ceres Power Holdings plc | 949 | |||||||
| 1,258,100 | CH Karnchang PCL | 720 | ||||||||
| 136,800 | *,e,g | Changsha Broad Homes Industrial Group Co Ltd | 169 | |||||||
| 220,196 | *,e | ChargePoint Holdings, Inc | 3,015 | |||||||
| 19,448 | Chargeurs S.A. | 302 | ||||||||
| 6,822 | * | Chart Industries, Inc | 1,142 | |||||||
| 783,801 | Chemring Group plc | 3,014 | ||||||||
| 184,000 | Chicony Power Technology Co Ltd | 433 | ||||||||
| 405,300 | Chin Hin Group Bhd | 308 | ||||||||
| 261,500 | e | China Aircraft Leasing Group Holdings Ltd | 168 | |||||||
| 240,422 | China Baoan Group Co Ltd | 485 | ||||||||
| 1,992,000 | China Communications Services Corp Ltd | 876 | ||||||||
| 1,216,574 | China Conch Venture Holdings Ltd | 2,654 | ||||||||
| 315,800 | China CSSC Holdings Ltd | 896 | ||||||||
| 2,325,000 | * | China Energy Engineering Corp Ltd | 824 | |||||||
| 517,000 | * | China High Speed Transmission Equipment Group Co Ltd | 308 | |||||||
| 772,036 | China Lesso Group Holdings Ltd | 1,169 | ||||||||
| 108,500 | China Meheco Co Ltd | 240 | ||||||||
| 314,200 | China National Chemical Engineering Co Ltd | 443 | ||||||||
| 1,001,718 | China Railway Group Ltd - A | 920 | ||||||||
| 7,374,000 | China Railway Group Ltd - H | 4,565 | ||||||||
| 754,000 | China State Construction Development Holdings Ltd | 220 | ||||||||
| 1,920,700 | China State Construction Engineering Corp Ltd | 1,526 | ||||||||
| 1,482,000 | China State Construction International Holdings Ltd | 1,640 | ||||||||
| 21,606 | * | China Yuchai International Ltd | 191 | |||||||
| 189,645 | * | Chiyoda Corp | 597 | |||||||
| 51,900 | Chudenko Corp | 817 | ||||||||
| 20 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 486,000 | Chung Hsin Electric & Machinery Manufacturing Corp | $ | 902 | |||||||
| 9,320 | Cie d’Entreprises CFE | 81 | ||||||||
| 812,000 | e | CIMC Enric Holdings Ltd | 873 | |||||||
| 12,002 | * | CIRCOR International, Inc | 197 | |||||||
| 4,161,517 | Citic Pacific Ltd | 4,242 | ||||||||
| 7,422,000 | Citic Resources Holdings Ltd | 495 | ||||||||
| 16,752 | CJ Corp | 1,006 | ||||||||
| 3,270,590 | CK Hutchison Holdings Ltd | 22,188 | ||||||||
| 60,993 | CKD Corp | 779 | ||||||||
| 143,538 | CNH Industrial NV | 1,660 | ||||||||
| 1,366,874 | e | CNH Industrial NV (NYSE) | 15,842 | |||||||
| 34,823 | g | Cochin Shipyard Ltd | 137 | |||||||
| 23,658 | Columbus McKinnon Corp | 671 | ||||||||
| 296,360 | Comfort Systems USA, Inc | 24,642 | ||||||||
| 3,300,401 | Compagnie de Saint-Gobain | 142,608 | ||||||||
| 133,717 | COMSYS Holdings Corp | 2,546 | ||||||||
| 23,856 | * | Concrete Pumping Holdings Inc | 145 | |||||||
| 21,987 | Construcciones y Auxiliar de Ferrocarriles S.A. | 649 | ||||||||
| 100,490 | * | Construction Partners Inc | 2,104 | |||||||
| 157,959 | Contemporary Amperex Technology Co Ltd | 12,654 | ||||||||
| 462,000 | Continental Engineering Corp | 406 | ||||||||
| 1,676 | Conzzeta AG. | 1,223 | ||||||||
| 52,151 | * | Core & Main, Inc | 1,163 | |||||||
| 400,023 | * | Cornerstone Building Brands, Inc | 9,797 | |||||||
| 689,200 | COSCO SHIPPING Development Co Ltd | 310 | ||||||||
| 15,194 | Crane Holdings Co | 1,330 | ||||||||
| 56,645 | * | Creative & Innovative System | 695 | |||||||
| 828,553 | * | Crompton Greaves Ltd | 2,020 | |||||||
| 29,412 | CS Wind Corp | 1,310 | ||||||||
| 554,000 | * | CSBC Corp Taiwan | 334 | |||||||
| 34,865 | CSW Industrials, Inc | 3,592 | ||||||||
| 608,000 | CTCI Corp | 920 | ||||||||
| 151,646 | Cummins India Ltd | 1,973 | ||||||||
| 83,575 | Cummins, Inc | 16,174 | ||||||||
| 43,768 | Curtiss-Wright Corp | 5,780 | ||||||||
| 36,579 | *,e | Custom Truck One Source, Inc | 205 | |||||||
| 14,566 | Daelim Industrial Co | 797 | ||||||||
| 8,721 | Daetwyler Holding AG. | 1,804 | ||||||||
| 241,237 | * | Daewoo Engineering & Construction Co Ltd | 1,090 | |||||||
| 59,458 | Daewoo International Corp | 883 | ||||||||
| 48,966 | * | Daewoo Shipbuilding & Marine Engineering Co Ltd | 905 | |||||||
| 40,913 | Daifuku Co Ltd | 2,341 | ||||||||
| 23,348 | Daihen Corp | 724 | ||||||||
| 10,589 | e | Daiho Corp | 359 | |||||||
| 444,186 | Daikin Industries Ltd | 71,318 | ||||||||
| 63,458 | * | Daimler Truck Holding AG. | 1,671 | |||||||
| 35,100 | Daiwa Industries Ltd | 284 | ||||||||
| 18,901 | Danieli & Co S.p.A. | 388 | ||||||||
| 73,482 | Danieli & Co S.p.A. (RSP) | 1,036 | ||||||||
| 43,065 | Dassault Aviation S.A. | 6,725 | ||||||||
| 33,435 | Dawonsys Co Ltd | 619 | ||||||||
| 140,971 | DCC plc | 8,771 | ||||||||
| 21 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 13,449 | *,e | Decarbonization Plus Acquisition Corp | $ | 40 | ||||||
| 789,697 | Deere & Co | 236,491 | ||||||||
| 223,073 | *,e | Desktop Metal, Inc | 491 | |||||||
| 145,905 | Deutz AG. | 567 | ||||||||
| 56,403 | g | Dilip Buildcon Ltd | 137 | |||||||
| 238,280 | Diploma plc | 6,489 | ||||||||
| 37,620 | DL E&C Co Ltd | 1,206 | ||||||||
| 7,326,860 | DMCI Holdings, Inc | 1,176 | ||||||||
| 114,012 | Donaldson Co, Inc | 5,489 | ||||||||
| 211,929 | Dongfang Electric Corp Ltd | 522 | ||||||||
| 56,766 | Doosan Bobcat, Inc | 1,270 | ||||||||
| 7,419 | Doosan Corp | 402 | ||||||||
| 51,126 | * | Doosan Fuel Cell Co Ltd | 1,186 | |||||||
| 284,679 | * | Doosan Heavy Industries and Construction Co Ltd | 4,275 | |||||||
| 147,807 | * | Doosan Infracore Co Ltd | 624 | |||||||
| 30,547 | Douglas Dynamics, Inc | 878 | ||||||||
| 899,975 | Dover Corp | 109,185 | ||||||||
| 392,953 | *,† | Drake & Scull International PJSC | 1 | |||||||
| 9,320 | * | Dredging Environmental & Marine Engineering NV | 1,026 | |||||||
| 2,492,690 | Dubai Investments PJSC | 1,487 | ||||||||
| 9,713 | * | Ducommun, Inc | 418 | |||||||
| 61,273 | Duerr AG. | 1,421 | ||||||||
| 12,918 | * | DXP Enterprises, Inc | 396 | |||||||
| 5,178 | * | Dycom Industries, Inc | 482 | |||||||
| 4,099,400 | Dynasty Ceramic PCL | 327 | ||||||||
| 1,541,061 | Eaton Corp | 194,158 | ||||||||
| 107,200 | Ebara Corp | 4,006 | ||||||||
| 16,785 | *,e | Ebusco Holding NV | 401 | |||||||
| 56,108 | Ecopro BM Co Ltd | 4,944 | ||||||||
| 27,300 | *,e | EHang Holdings Ltd (ADR) | 253 | |||||||
| 11,745 | Eiffage S.A. | 1,062 | ||||||||
| 40,400 | Elbit Systems Ltd | 9,279 | ||||||||
| 11,096 | Elco Holdings Ltd | 717 | ||||||||
| 2,512 | Electra Israel Ltd | 1,401 | ||||||||
| 1,919,972 | Electrocomponents plc | 20,421 | ||||||||
| 276,739 | e | Electrolux Professional AB | 1,488 | |||||||
| 893,992 | ElSewedy Electric Co | 288 | ||||||||
| 820,300 | * | Embraer S.A. | 1,793 | |||||||
| 104,642 | EMCOR Group, Inc | 10,774 | ||||||||
| 74,097 | Emerson Electric Co | 5,894 | ||||||||
| 65,622 | e | Encore Wire Corp | 6,819 | |||||||
| 7,706 | Energiekontor AG. | 623 | ||||||||
| 403,273 | * | Energy Recovery, Inc | 7,832 | |||||||
| 3,876 | *,e | Energy Vault Holdings, Inc | 39 | |||||||
| 9,630 | Enerpac Tool Group Corp | 183 | ||||||||
| 31,026 | EnerSys | 1,829 | ||||||||
| 279,221 | Engineers India Ltd | 202 | ||||||||
| 170,968 | *,e | Enovix Corp | 1,523 | |||||||
| 149,858 | EnPro Industries, Inc | 12,278 | ||||||||
| 244,136 | Epiroc AB | 3,308 | ||||||||
| 157,898 | Epiroc AB | 2,448 | ||||||||
| 41,334 | Esab Corp | 1,808 | ||||||||
| 22 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 5,279 | * | ESAB India Ltd | $ | 237 | ||||||
| 177,304 | ESCO Technologies, Inc | 12,122 | ||||||||
| 12,416 | *,e | ESS Tech, Inc | 35 | |||||||
| 120,220 | * | Eve Energy Co Ltd | 1,761 | |||||||
| 261,618 | * | Evoqua Water Technologies Corp | 8,505 | |||||||
| 153,551 | e | Fagerhult AB | 685 | |||||||
| 364,600 | Fangda Carbon New Material Co Ltd | 414 | ||||||||
| 108,084 | * | Fanuc Ltd | 16,941 | |||||||
| 3,965,631 | Far Eastern Textile Co Ltd | 4,245 | ||||||||
| 566,222 | Fastenal Co | 28,266 | ||||||||
| 1,635 | * | Fathom Digital Manufacturing C | 6 | |||||||
| 231,527 | Federal Signal Corp | 8,242 | ||||||||
| 120,111 | Ferguson plc | 13,455 | ||||||||
| 504,882 | Ferrovial S.A. | 12,846 | ||||||||
| 613,461 | *,e | Fincantieri S.p.A | 340 | |||||||
| 340,669 | Finning International, Inc | 7,170 | ||||||||
| 68,554 | Finolex Cables Ltd | 327 | ||||||||
| 420,000 | e | First Tractor Co | 200 | |||||||
| 1,466,744 | Fletcher Building Ltd | 4,605 | ||||||||
| 1,235,499 | Flowserve Corp | 35,372 | ||||||||
| 1,556,736 | FLSmidth & Co AS | 38,570 | ||||||||
| 9,006 | *,e | Fluence Energy, Inc | 85 | |||||||
| 113,813 | e | Fluidra S.A. | 2,316 | |||||||
| 373,298 | * | Fluor Corp | 9,086 | |||||||
| 617,239 | Fortive Corp | 33,565 | ||||||||
| 208,180 | Fortune Brands Home & Security, Inc | 12,466 | ||||||||
| 3,191,508 | e | Fosun International | 2,948 | |||||||
| 18,029 | Franklin Electric Co, Inc | 1,321 | ||||||||
| 378,700 | Frencken Group Ltd | 303 | ||||||||
| 7,862 | *,e | FTC Solar, Inc | 28 | |||||||
| 285,226 | *,e | FuelCell Energy, Inc | 1,070 | |||||||
| 392,574 | * | Fugro NV | 4,941 | |||||||
| 85,833 | * | Fuji Electric Holdings Co Ltd | 3,549 | |||||||
| 85,145 | Fuji Machine Manufacturing Co Ltd | 1,256 | ||||||||
| 924,378 | Fujikura Ltd | 5,236 | ||||||||
| 73,439 | Fujitec Co Ltd | 1,624 | ||||||||
| 13,939 | Fukushima Industries Corp | 354 | ||||||||
| 31,656 | Furukawa Co Ltd | 279 | ||||||||
| 81,244 | Furukawa Electric Co Ltd | 1,333 | ||||||||
| 2,026,547 | Gamuda BHD | 1,649 | ||||||||
| 42,237 | GARO AB | 539 | ||||||||
| 83,145 | * | Gates Industrial Corp plc | 899 | |||||||
| 28,326 | GATX Corp | 2,667 | ||||||||
| 21,469 | GEA Group AG. | 744 | ||||||||
| 8,909 | Geberit AG. | 4,286 | ||||||||
| 66,999 | * | GEK Group of Cos S.A. | 659 | |||||||
| 116,867 | * | Generac Holdings, Inc | 24,610 | |||||||
| 177,502 | General Dynamics Corp | 39,272 | ||||||||
| 108,939 | General Electric Co | 6,936 | ||||||||
| 94,957 | Georg Fischer AG. | 4,690 | ||||||||
| 139,571 | * | Gibraltar Industries, Inc | 5,408 | |||||||
| 20,701 | Giken Seisakusho Co, Inc | 471 | ||||||||
| 23 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 22,800 | Ginlong Technologies Co Ltd | $ | 729 | |||||||
| 10,683 | Global Industrial Co | 361 | ||||||||
| 58,456 | Glory Ltd | 882 | ||||||||
| 6,722 | GMM Pfaudler Ltd | 371 | ||||||||
| 55,317 | * | GMS, Inc | 2,462 | |||||||
| 51,213 | * | Godrej Industries Ltd | 282 | |||||||
| 16,946 | Gorman-Rupp Co | 480 | ||||||||
| 62,530 | Gotion High-tech Co Ltd | 427 | ||||||||
| 66,449 | Graco, Inc | 3,948 | ||||||||
| 223,529 | GrafTech International Ltd | 1,580 | ||||||||
| 500,086 | Grafton Group plc | 4,750 | ||||||||
| 38,466 | Granite Construction, Inc | 1,121 | ||||||||
| 82,103 | Graphite India Ltd | 410 | ||||||||
| 44,917 | * | Great Lakes Dredge & Dock Corp | 589 | |||||||
| 106,433 | Greaves Cotton Ltd | 201 | ||||||||
| 26,754 | Greenbrier Cos, Inc | 963 | ||||||||
| 2,755,000 | g | Greentown Management Holdings Co Ltd | 2,133 | |||||||
| 24,541 | Griffon Corp | 688 | ||||||||
| 53,632 | Grindwell Norton Ltd | 1,147 | ||||||||
| 552,893 | e | Grupo Carso S.A. de C.V. (Series A1) | 2,061 | |||||||
| 220,799 | e | Grupo Rotoplas SAB de C.V. | 274 | |||||||
| 44,564 | GS Engineering & Construction Corp | 1,088 | ||||||||
| 54,416 | GS Holdings Corp | 1,758 | ||||||||
| 76,254 | GS Yuasa Corp | 1,193 | ||||||||
| 111,364 | GT Capital Holdings, Inc | 992 | ||||||||
| 18,315 | * | Guangdong Kinlong Hardware Products Co Ltd | 356 | |||||||
| 128,841 | Gulf Cable & Electrical Industries Co KSCP | 564 | ||||||||
| 84,651 | *,e,g | GVS S.p.A | 692 | |||||||
| 272,021 | GWA International Ltd | 370 | ||||||||
| 4,940 | H&E Equipment Services, Inc | 143 | ||||||||
| 796,497 | Haitian International Holdings Ltd | 2,037 | ||||||||
| 363,190 | Hangzhou Steam Turbine Co | 523 | ||||||||
| 25,303 | * | Hanjin Heavy Industries & Construction Co Ltd | 140 | |||||||
| 64,979 | Hanwa Co Ltd | 1,356 | ||||||||
| 63,299 | Hanwha Corp | 1,263 | ||||||||
| 19,268 | Hanwha Corp (3P) | 213 | ||||||||
| 75,835 | Hanwha Systems Co Ltd | 817 | ||||||||
| 643,081 | HAP Seng Consolidated BHD | 1,040 | ||||||||
| 700,000 | * | Harbin Power Equipment | 204 | |||||||
| 30,142 | *,e | Hardwoods Distribution, Inc | 662 | |||||||
| 57,400 | e | Harmonic Drive Systems, Inc | 1,683 | |||||||
| 269,695 | Havells India Ltd | 3,766 | ||||||||
| 40,598 | * | Hayward Holdings, Inc | 584 | |||||||
| 195,236 | Hazama Ando Corp | 1,212 | ||||||||
| 43,200 | HDC Hyundai Development Co-Engineering & Construction | 373 | ||||||||
| 16,283 | HEG Ltd | 207 | ||||||||
| 40,939 | HEICO Corp | 5,368 | ||||||||
| 75,258 | HEICO Corp (Class A) | 7,931 | ||||||||
| 661,606 | * | Heidelberger Druckmaschinen | 997 | |||||||
| 2,970 | * | Heliogen, Inc | 6 | |||||||
| 23,840 | Helios Technologies, Inc | 1,579 | ||||||||
| 113,012 | Hensoldt AG. | 2,847 | ||||||||
| 24 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 4,468 | Herc Holdings, Inc | $ | 403 | |||||||
| 137,468 | *,e | Hexagon Composites ASA | 380 | |||||||
| 88,591 | *,e | Hexagon Purus Holding AS. | 232 | |||||||
| 173,980 | e | Hexatronic Group AB | 1,294 | |||||||
| 73,422 | Hexcel Corp | 3,841 | ||||||||
| 115,390 | Hillenbrand, Inc | 4,726 | ||||||||
| 112,238 | * | Hillman Solutions Corp | 970 | |||||||
| 334,200 | Hino Motors Ltd | 1,720 | ||||||||
| 9,200 | Hirata Corp | 286 | ||||||||
| 218,759 | * | Hitachi Construction Machinery Co Ltd | 4,859 | |||||||
| 1,587,429 | * | Hitachi Ltd | 75,514 | |||||||
| 693,720 | Hitachi Zosen Corp | 4,373 | ||||||||
| 316,000 | Hiwin Technologies Corp | 2,539 | ||||||||
| 28,515 | Hochtief AG. | 1,398 | ||||||||
| 1,930,733 | Honeywell International, Inc | 335,581 | ||||||||
| 48,685 | Hongfa Technology Co Ltd | 305 | ||||||||
| 100,524 | Hoshizaki Electric Co Ltd | 2,996 | ||||||||
| 1,178,002 | Howden Joinery Group plc | 8,684 | ||||||||
| 613,383 | Howmet Aerospace, Inc | 19,291 | ||||||||
| 437,200 | Hubbell, Inc | 78,075 | ||||||||
| 17,932 | Huber & Suhner AG. | 1,430 | ||||||||
| 6,597 | * | Hudson Technologies, Inc | 50 | |||||||
| 5,067 | Huntington Ingalls | 1,104 | ||||||||
| 433,772 | Husqvarna AB (B Shares) | 3,197 | ||||||||
| 36,815 | *,e | Hydrofarm Holdings Group, Inc | 128 | |||||||
| 113,715 | *,e | Hyliion Holdings Corp | 366 | |||||||
| 33,248 | Hyosung Corp | 2,062 | ||||||||
| 5,425 | * | Hyosung Heavy Industries Corp | 264 | |||||||
| 8,851 | Hyster-Yale Materials Handling, Inc | 285 | ||||||||
| 14,423 | Hyundai Construction Equipment Co Ltd | 501 | ||||||||
| 24,158 | * | Hyundai Electric & Energy System Co Ltd | 473 | |||||||
| 27,243 | Hyundai Elevator Co Ltd | 565 | ||||||||
| 57,664 | Hyundai Engineering & Construction Co Ltd | 1,844 | ||||||||
| 29,978 | * | Hyundai Heavy Industries | 2,176 | |||||||
| 19,390 | * | Hyundai Heavy Industries Co Ltd | 2,140 | |||||||
| 27,547 | * | Hyundai Mipo Dockyard | 1,938 | |||||||
| 97,353 | * | Hyundai Rotem Co Ltd | 1,561 | |||||||
| 32,077 | Idec Corp | 662 | ||||||||
| 26,380 | IDEX Corp | 4,791 | ||||||||
| 3,340 | * | IES Holdings, Inc | 101 | |||||||
| 3,327,600 | IJM Corp BHD | 1,307 | ||||||||
| 295,251 | Illinois Tool Works, Inc | 53,810 | ||||||||
| 477,644 | IMI plc | 6,851 | ||||||||
| 17,002 | *,e | Implenia AG. | 390 | |||||||
| 87,136 | Inaba Denki Sangyo Co Ltd | 1,710 | ||||||||
| 68,998 | Inabata & Co Ltd | 1,127 | ||||||||
| 16,257 | g | IndiaMart InterMesh Ltd | 788 | |||||||
| 20,632 | Indus Holding AG. | 482 | ||||||||
| 1,750,093 | Industries Qatar QSC | 7,678 | ||||||||
| 285,939 | Indutrade AB | 5,246 | ||||||||
| 130,672 | *,e | Infrastructure and Energy Alternatives, Inc | 1,049 | |||||||
| 345,960 | e | INFRONEER Holdings, Inc | 2,459 | |||||||
| 25 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,132,477 | Ingersoll Rand, Inc | $ | 47,655 | |||||||
| 2,803,600 | *,† | Inovisi Infracom Tbk PT | 0 | ^ | ||||||
| 318,417 | *,e | InPost S.A. | 1,845 | |||||||
| 210,203 | e | Instalco AB | 875 | |||||||
| 3,929 | Insteel Industries, Inc | 132 | ||||||||
| 82,067 | Interpump Group S.p.A. | 3,142 | ||||||||
| 746 | Interroll Holding AG. | 1,675 | ||||||||
| 152,910 | Investment AB Latour | 3,037 | ||||||||
| 48,329 | e | INVISIO AB | 696 | |||||||
| 145,809 | Inwido AB | 1,607 | ||||||||
| 156,300 | Iochpe-Maxion S.A. | 469 | ||||||||
| 145,977 | * | IRB Infrastructure Developers Ltd | 375 | |||||||
| 16,955 | IS Dongseo Co Ltd | 511 | ||||||||
| 24,857 | ISGEC Heavy Engineering Ltd | 154 | ||||||||
| 162,400 | Ishikawajima-Harima Heavy Industries Co Ltd | 4,338 | ||||||||
| 18,566 | Italmobiliare S.p.A | 513 | ||||||||
| 499,144 | *,e | Itm Power plc | 1,052 | |||||||
| 1,256,562 | Itochu Corp | 33,900 | ||||||||
| 138,187 | ITT, Inc | 9,292 | ||||||||
| 244,417 | * | Iveco Group NV | 1,294 | |||||||
| 25,116 | Jantsa Jant Sanayi Ve Ticaret AS. | 110 | ||||||||
| 44,846 | * | Janus International Group, Inc | 405 | |||||||
| 10,532 | Japan Pulp & Paper Co Ltd | 296 | ||||||||
| 69,761 | Japan Steel Works Ltd | 1,519 | ||||||||
| 226,268 | Jardine Matheson Holdings Ltd | 11,889 | ||||||||
| 47,400 | JDC Corp | 183 | ||||||||
| 50,443 | * | JELD-WEN Holding, Inc | 736 | |||||||
| 3,229,406 | JG Summit Holdings (Series B) | 2,860 | ||||||||
| 392,100 | JGC Corp | 5,036 | ||||||||
| 83,504 | Jiangsu Hengli Hydraulic Co Ltd | 771 | ||||||||
| 251,618 | * | Jiangsu Zhongtian Technology Co Ltd | 871 | |||||||
| 104,200 | * | Jiangxi Special Electric Motor Co Ltd | 391 | |||||||
| 5,399 | John Bean Technologies Corp | 596 | ||||||||
| 201,772 | Johns Lyng Group Ltd | 799 | ||||||||
| 871,918 | Johnson Controls International plc | 41,747 | ||||||||
| 14,069 | g | JOST Werke AG. | 527 | |||||||
| 355,900 | *,e | JTOWER, Inc | 17,601 | |||||||
| 6,254 | Judges Scientific plc | 554 | ||||||||
| 56,172 | Jungheinrich AG. | 1,232 | ||||||||
| 3,411 | Kaba Holding AG. | 1,489 | ||||||||
| 1,938 | Kadant, Inc | 353 | ||||||||
| 96,021 | Kajaria Ceramics Ltd | 1,156 | ||||||||
| 279,699 | Kajima Corp | 3,207 | ||||||||
| 66,804 | Kalpataru Power Transmission Ltd | 302 | ||||||||
| 23,635 | Kaman Corp | 739 | ||||||||
| 37,600 | Kanamoto Co Ltd | 534 | ||||||||
| 116,401 | Kandenko Co Ltd | 725 | ||||||||
| 85,800 | Kanematsu Corp | 847 | ||||||||
| 3,100,740 | KAP Industrial Holdings Ltd | 841 | ||||||||
| 2,001 | * | Karat Packaging, Inc | 34 | |||||||
| 20,399 | Kardex AG. | 3,401 | ||||||||
| 23,800 | Katakura Industries Co Ltd | 355 | ||||||||
| 26 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 252,900 | Kawasaki Heavy Industries Ltd | $ | 4,746 | |||||||
| 12,309 | KCC Glass Corp | 459 | ||||||||
| 146,518 | KEC International Ltd | 728 | ||||||||
| 121,600 | Keda Industrial Group Co Ltd | 376 | ||||||||
| 69,365 | KEI Industries Ltd | 1,017 | ||||||||
| 111,500 | Keihan Electric Railway Co Ltd | 2,779 | ||||||||
| 105,934 | Keller Group plc | 934 | ||||||||
| 19,003 | *,e | Kempower Oyj | 231 | |||||||
| 68,019 | Kennametal, Inc | 1,580 | ||||||||
| 15,333 | KEPCO Engineering & Construction Co, Inc | 847 | ||||||||
| 1,517,847 | Keppel Corp Ltd | 7,091 | ||||||||
| 565,113 | * | Kier Group plc | 467 | |||||||
| 221,171 | Kinden Corp | 2,553 | ||||||||
| 52,634 | Kingspan Group plc | 3,165 | ||||||||
| 117,000 | * | Kinik Co | 575 | |||||||
| 74,637 | KION Group AG. | 3,124 | ||||||||
| 178,000 | Kitz Corp | 831 | ||||||||
| 99,643 | Kloeckner & Co AG. | 766 | ||||||||
| 268,838 | Knorr-Bremse AG. | 15,398 | ||||||||
| 134,623 | KNR Constructions Ltd | 399 | ||||||||
| 816,028 | KOC Holding AS | 1,802 | ||||||||
| 953,820 | Komatsu Ltd | 21,239 | ||||||||
| 4,165 | Komax Holding AG. | 1,023 | ||||||||
| 47,732 | Kone Oyj (Class B) | 2,281 | ||||||||
| 70,666 | Konecranes Oyj | 1,655 | ||||||||
| 242,345 | Kongsberg Gruppen ASA | 8,716 | ||||||||
| 319,000 | * | Koninklijke BAM Groep NV | 752 | |||||||
| 85,008 | Korea Aerospace Industries Ltd | 3,515 | ||||||||
| 6,155 | Korea Electric Terminal Co Ltd | 256 | ||||||||
| 201,787 | * | Kornit Digital Ltd | 6,397 | |||||||
| 825,841 | * | Kratos Defense & Security Solutions, Inc | 11,463 | |||||||
| 15,972 | Krones AG. | 1,225 | ||||||||
| 13,858 | KSB Ltd | 261 | ||||||||
| 95,976 | * | Kuang-Chi Technologies Co Ltd | 248 | |||||||
| 1,018,812 | Kubota Corp | 15,268 | ||||||||
| 39,404 | Kumagai Gumi Co Ltd | 798 | ||||||||
| 55,000 | Kung Long Batteries Industrial Co Ltd | 251 | ||||||||
| 93,787 | Kurita Water Industries Ltd | 3,395 | ||||||||
| 31,954 | Kyokuto Kaihatsu Kogyo Co Ltd | 339 | ||||||||
| 117,955 | Kyowa Exeo Corp | 1,847 | ||||||||
| 51,522 | Kyudenko Corp | 1,043 | ||||||||
| 7,837 | Kyung Dong Navien Co Ltd | 244 | ||||||||
| 154,683 | L3Harris Technologies, Inc | 37,387 | ||||||||
| 3,506 | Lakshmi Machine Works Ltd | 400 | ||||||||
| 790,125 | Larsen & Toubro Ltd | 15,663 | ||||||||
| 1,287 | * | Lawson Products, Inc | 66 | |||||||
| 73,576 | Legrand S.A. | 5,463 | ||||||||
| 29,601 | Lennox International, Inc | 6,115 | ||||||||
| 472,350 | Leonardo S.p.A. | 4,792 | ||||||||
| 108,318 | LG Corp | 6,515 | ||||||||
| 23,829 | *,e | LG Energy Solution | 6,873 | |||||||
| 6,839 | LG Hausys Ltd | 224 | ||||||||
| 27 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 56,813 | LG International Corp | $ | 1,420 | |||||||
| 241,446 | Lifco AB | 3,899 | ||||||||
| 12,704 | LIG Nex1 Co Ltd | 706 | ||||||||
| 6,225 | * | Lightning eMotors, Inc | 17 | |||||||
| 23,673 | Lincoln Electric Holdings, Inc | 2,920 | ||||||||
| 86,991 | Lindab International AB | 1,265 | ||||||||
| 1,766 | Lindsay Corp | 235 | ||||||||
| 64,952 | *,e | Lion Electric Co | 274 | |||||||
| 23,224 | LISI | 445 | ||||||||
| 299,150 | LIXIL Group Corp | 5,623 | ||||||||
| 1,713,500 | e | LK Technology Holdings Ltd | 3,289 | |||||||
| 273,710 | Lockheed Martin Corp | 117,684 | ||||||||
| 2,384,000 | Lonking Holdings Ltd | 578 | ||||||||
| 64,756 | LS Cable Ltd | 3,186 | ||||||||
| 19,531 | LS Industrial Systems Co Ltd | 870 | ||||||||
| 2,394,200 | LT Group, Inc | 353 | ||||||||
| 99,342 | g | Luceco plc | 124 | |||||||
| 286,000 | *,e | Luoyang Glass Co Ltd | 536 | |||||||
| 18,530 | Luoyang Xinqianglian Slewing Bearing Co Ltd | 247 | ||||||||
| 74,016 | Luxfer Holdings plc | 1,119 | ||||||||
| 216,849 | * | LX Holdings Corp | 1,530 | |||||||
| 104,243 | Maas Group Holdings Ltd | 262 | ||||||||
| 57,432 | e | Mabuchi Motor Co Ltd | 1,480 | |||||||
| 175,267 | e | Maire Tecnimont S.p.A | 505 | |||||||
| 28,539 | Makino Milling Machine Co Ltd | 891 | ||||||||
| 233,791 | Makita Corp | 5,795 | ||||||||
| 2,025,200 | Malaysian Resources Corp BHD | 161 | ||||||||
| 11,755 | e | Manitou BF S.A. | 220 | |||||||
| 30,314 | * | Manitowoc Co, Inc | 319 | |||||||
| 642,900 | Marcopolo S.A. | 303 | ||||||||
| 79,798 | * | Markforged Holding Corp | 148 | |||||||
| 1,654,440 | Marubeni Corp | 14,843 | ||||||||
| 22,400 | MARUKA FURUSATO Corp | 400 | ||||||||
| 1,102,645 | Masco Corp | 55,794 | ||||||||
| 3,629 | * | Masonite International Corp | 279 | |||||||
| 49,437 | * | Mastec, Inc | 3,543 | |||||||
| 27,600 | Max Co Ltd | 328 | ||||||||
| 60,803 | Maxar Technologies, Inc | 1,586 | ||||||||
| 2,387 | MBB SE | 255 | ||||||||
| 12,610 | McGrath RentCorp | 958 | ||||||||
| 24,635 | *,e | McPhy Energy S.A. | 332 | |||||||
| 130,120 | *,e | MDA Ltd | 807 | |||||||
| 242,453 | MDU Resources Group, Inc | 6,544 | ||||||||
| 1,255,500 | e | MECOM Power and Construction Ltd | 379 | |||||||
| 912,788 | * | Meggitt plc | 8,774 | |||||||
| 37,971 | Meidensha Corp | 558 | ||||||||
| 610,386 | Melrose Industries plc | 1,120 | ||||||||
| 47,652 | * | Mercury Systems, Inc | 3,065 | |||||||
| 76,320 | * | Meritor, Inc | 2,773 | |||||||
| 917,003 | Metallurgical Corp of China Ltd | 479 | ||||||||
| 26,200 | METAWATER Co Ltd | 388 | ||||||||
| 772,310 | Metso Outotec Oyj | 5,829 | ||||||||
| 28 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 71,330 | * | Microvast Holdings, Inc | $ | 158 | ||||||
| 18,194 | * | Middleby Corp | 2,281 | |||||||
| 74,794 | Mie Kotsu Group Holdings, Inc | 272 | ||||||||
| 9,290 | Miller Industries, Inc | 211 | ||||||||
| 354,990 | Minebea Co Ltd | 6,050 | ||||||||
| 143,900 | Ming Yang Smart Energy Group Ltd | 729 | ||||||||
| 220,262 | Miraito Holdings Corp | 2,588 | ||||||||
| 296,254 | MISUMI Group, Inc | 6,257 | ||||||||
| 1,758,635 | Mitsubishi Corp | 52,374 | ||||||||
| 1,278,177 | Mitsubishi Electric Corp | 13,739 | ||||||||
| 313,938 | Mitsubishi Heavy Industries Ltd | 10,973 | ||||||||
| 30,000 | Mitsubishi Nichiyu Forklift Co Ltd | 193 | ||||||||
| 25,850 | Mitsuboshi Belting Co Ltd | 539 | ||||||||
| 2,320,669 | Mitsui & Co Ltd | 50,996 | ||||||||
| 100,800 | Miura Co Ltd | 1,997 | ||||||||
| 31,446 | * | Momentus, Inc | 68 | |||||||
| 104,526 | Monadelphous Group Ltd | 719 | ||||||||
| 4,145,590 | MonotaRO Co Ltd | 61,826 | ||||||||
| 22,658 | *,g | Montana Aerospace AG. | 350 | |||||||
| 20,639 | Moog, Inc (Class A) | 1,639 | ||||||||
| 404,701 | Morgan Crucible Co plc | 1,355 | ||||||||
| 48,514 | Morgan Sindall plc | 1,076 | ||||||||
| 132,944 | Mori Seiki Co Ltd | 1,653 | ||||||||
| 31,600 | Morita Holdings Corp | 308 | ||||||||
| 1,888,640 | * | MRC Global, Inc | 18,811 | |||||||
| 39,255 | MSC Industrial Direct Co (Class A) | 2,948 | ||||||||
| 14,949 | MTAR Technologies Ltd | 241 | ||||||||
| 73,039 | MTU Aero Engines Holding AG. | 13,380 | ||||||||
| 120,936 | Mueller Industries, Inc | 6,445 | ||||||||
| 25,906 | Mueller Water Products, Inc (Class A) | 304 | ||||||||
| 239,296 | e,g | Munters Group AB | 1,395 | |||||||
| 99,873 | * | MYR Group, Inc | 8,802 | |||||||
| 128,400 | e | Nabtesco Corp | 3,013 | |||||||
| 15,633 | Nachi-Fujikoshi Corp | 402 | ||||||||
| 528,901 | Nagarjuna Construction Co | 364 | ||||||||
| 112,500 | Nagase & Co Ltd | 1,547 | ||||||||
| 456,316 | NARI Technology Co Ltd | 1,846 | ||||||||
| 243,760 | National Central Cooling Co PJSC | 182 | ||||||||
| 1,998,536 | National Industries Group Holding SAK | 1,651 | ||||||||
| 4,517 | National Presto Industries, Inc | 297 | ||||||||
| 1,021,165 | NBCC India Ltd | 369 | ||||||||
| 234,370 | NCC AB (B Shares) | 2,366 | ||||||||
| 1,698,183 | *,e | NEL ASA | 2,079 | |||||||
| 28,059 | Nexans S.A. | 2,186 | ||||||||
| 79,478 | e | NFI Group, Inc | 827 | |||||||
| 92,804 | NGK Insulators Ltd | 1,250 | ||||||||
| 1,606,332 | Nibe Industrier AB | 12,109 | ||||||||
| 63,440 | Nichias Corp | 1,053 | ||||||||
| 15,700 | Nichiden Corp | 219 | ||||||||
| 54,045 | Nichiha Corp | 1,050 | ||||||||
| 81,552 | Nidec Corp | 5,054 | ||||||||
| 54,067 | Nikkiso Co Ltd | 320 | ||||||||
| 29 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 49,187 | *,e | Nikola Corp | $ | 234 | ||||||
| 21,491 | * | Nilfisk Holding A.S. | 457 | |||||||
| 13,300 | Ningbo Deye Technology Co Ltd | 558 | ||||||||
| 38,100 | Ningbo Orient Wires & Cables Co Ltd | 436 | ||||||||
| 30,478 | Ningbo Ronbay New Energy Technology Co Ltd | 594 | ||||||||
| 11,500 | Nippon Carbon Co Ltd | 339 | ||||||||
| 43,059 | Nippon Densetsu Kogyo Co Ltd | 558 | ||||||||
| 6,100 | Nippon Road Co Ltd | 286 | ||||||||
| 20,017 | Nippon Steel Trading Co Ltd | 750 | ||||||||
| 38,465 | Nishimatsu Construction Co Ltd | 1,149 | ||||||||
| 118,400 | Nishio Rent All Co Ltd | 2,353 | ||||||||
| 152,831 | Nisshinbo Industries, Inc | 1,151 | ||||||||
| 58,000 | Nissin Electric Co Ltd | 653 | ||||||||
| 21,200 | Nitta Corp | 431 | ||||||||
| 30,200 | Nitto Boseki Co Ltd | 519 | ||||||||
| 42,135 | Nitto Kogyo Corp | 729 | ||||||||
| 70,656 | * | NKT Holding AS | 3,021 | |||||||
| 2,400 | *,†,e | Noble Group Ltd | 0 | ^ | ||||||
| 244,137 | Nolato AB | 1,316 | ||||||||
| 123,414 | *,e | Nordex AG. | 1,059 | |||||||
| 70,856 | Nordson Corp | 14,344 | ||||||||
| 9,983 | Noritake Co Ltd | 297 | ||||||||
| 20,651 | Noritsu Koki Co Ltd | 350 | ||||||||
| 29,731 | e | Noritz Corp | 318 | |||||||
| 38,519 | NORMA Group | 863 | ||||||||
| 113,400 | * | North Industries Group Red Arrow Co Ltd | 493 | |||||||
| 278,163 | Northrop Grumman Corp | 133,120 | ||||||||
| 7,637 | * | Northwest Pipe Co | 229 | |||||||
| 789,158 | * | NOW, Inc | 7,718 | |||||||
| 505,359 | NRW Holdings Ltd | 593 | ||||||||
| 457,700 | NSK Ltd | 2,463 | ||||||||
| 475,261 | * | NTN Corp | 907 | |||||||
| 14,121 | *,e | NuScale Power Corp | 141 | |||||||
| 2,172 | * | NV5 Global Inc | 254 | |||||||
| 145,077 | nVent Electric plc | 4,545 | ||||||||
| 1,742,000 | NWS Holdings Ltd | 1,655 | ||||||||
| 9,146 | e | Obara Corp | 195 | |||||||
| 430,609 | Obayashi Corp | 3,132 | ||||||||
| 547,699 | OC Oerlikon Corp AG. | 3,824 | ||||||||
| 5,961 | OHB AG. | 217 | ||||||||
| 22,621 | Oiles Corp | 254 | ||||||||
| 27,767 | Okuma Holdings, Inc | 1,043 | ||||||||
| 33,700 | Okumura Corp | 749 | ||||||||
| 48,671 | * | Olectra Greentech Ltd | 364 | |||||||
| 565 | e | Omega Flex, Inc | 61 | |||||||
| 325,606 | *,e | Opus Global Rt | 143 | |||||||
| 7,237 | Organo Corp | 453 | ||||||||
| 98,906 | OSG Corp | 1,153 | ||||||||
| 21,412 | Oshkosh Corp | 1,759 | ||||||||
| 9 | OSRAM Licht AG. | 1 | ||||||||
| 550,167 | Otis Worldwide Corp | 38,880 | ||||||||
| 9,662 | Otokar Otobus Karoseri Sanayi AS | 246 | ||||||||
| 30 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 404,971 | Owens Corning, Inc | $ | 30,093 | |||||||
| 177,809 | *,e | OX2 AB | 1,358 | |||||||
| 514,848 | PACCAR, Inc | 42,393 | ||||||||
| 18,049 | e | Palfinger AG. | 412 | |||||||
| 18,510 | Park Aerospace Corp | 236 | ||||||||
| 650,356 | Parker-Hannifin Corp | 160,020 | ||||||||
| 28,258 | *,e | Parsons Corp | 1,142 | |||||||
| 212,381 | Peab AB (Series B) | 1,246 | ||||||||
| 162,554 | Pentair plc | 7,440 | ||||||||
| 1,704,900 | Pentamaster Corp BHD | 1,433 | ||||||||
| 320,646 | Penta-Ocean Construction Co Ltd | 1,730 | ||||||||
| 22,127 | People & Technology, Inc | 751 | ||||||||
| 34,522 | PER Aarsleff A.S. | 1,033 | ||||||||
| 3,801 | Pfeiffer Vacuum Technology AG. | 599 | ||||||||
| 54,698 | * | PGT Innovations, Inc | 910 | |||||||
| 478,695 | *,e | Plug Power, Inc | 7,932 | |||||||
| 90,398 | PNC Infratech Ltd | 278 | ||||||||
| 44,399 | PNE AG. | 620 | ||||||||
| 53,215 | Polycab India Ltd | 1,488 | ||||||||
| 424,782 | Polypipe Group plc | 1,984 | ||||||||
| 187,100 | Polyplex PCL (Foreign) | 120 | ||||||||
| 21,693 | e | Porr AG. | 281 | |||||||
| 8,470 | Powell Industries, Inc | 198 | ||||||||
| 722,069 | Power Construction Corp of China Ltd | 850 | ||||||||
| 56,370 | *,e | PowerCell Sweden AB | 750 | |||||||
| 3,397,000 | * | PP Persero Tbk PT | 216 | |||||||
| 137,154 | Praj Industries Ltd | 635 | ||||||||
| 2,105 | Preformed Line Products Co | 129 | ||||||||
| 42,666 | Primoris Services Corp | 928 | ||||||||
| 40,560 | Prince Pipes & Fittings Ltd | 308 | ||||||||
| 118,796 | *,e | Proterra, Inc | 551 | |||||||
| 28,775 | * | Proto Labs, Inc | 1,377 | |||||||
| 128,886 | Prysmian S.p.A. | 3,541 | ||||||||
| 192,355 | PSG Group Ltd | 993 | ||||||||
| 1,312,879 | QinetiQ plc | 5,872 | ||||||||
| 48,679 | Quanex Building Products Corp | 1,107 | ||||||||
| 288,811 | Quanta Services, Inc | 36,200 | ||||||||
| 48,878 | *,e | RADA Electronic Industries Ltd | 452 | |||||||
| 42,000 | Raito Kogyo Co Ltd | 574 | ||||||||
| 211,700 | Randon Participacoes S.A. | 379 | ||||||||
| 580,885 | Ras Al Khaimah Ceramics | 440 | ||||||||
| 5,318 | Rational AG. | 3,100 | ||||||||
| 5,805,115 | Raytheon Technologies Corp | 557,930 | ||||||||
| 21,112 | * | RBC Bearings, Inc | 3,905 | |||||||
| 488,000 | *,e | Realord Group Holdings Ltd | 656 | |||||||
| 13,672 | *,e | Redwire Corp | 42 | |||||||
| 234,862 | Reece Ltd | 2,231 | ||||||||
| 124,436 | Regal-Beloit Corp | 14,126 | ||||||||
| 1,380,427 | Reliance Worldwide Corp Ltd | 3,858 | ||||||||
| 45,600 | *,e | ReneSola Ltd (ADR) | 217 | |||||||
| 156,918 | * | Resideo Technologies, Inc | 3,047 | |||||||
| 184,165 | Reunert Ltd | 453 | ||||||||
| 31 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 30,768 | REV Group, Inc | $ | 334 | |||||||
| 285,128 | Rexel S.A. | 4,406 | ||||||||
| 155,000 | Rexon Industrial Corp Ltd | 140 | ||||||||
| 108,912 | Rheinmetall AG. | 25,133 | ||||||||
| 63,282 | Richelieu Hardware Ltd | 1,656 | ||||||||
| 6,065 | Rieter Holding AG. | 702 | ||||||||
| 64,400 | Riyue Heavy Industry Co Ltd | 245 | ||||||||
| 38,879 | * | Rocket Lab USA, Inc | 147 | |||||||
| 266,559 | Rockwell Automation, Inc | 53,128 | ||||||||
| 1,278 | Rockwool International AS (B Shares) | 290 | ||||||||
| 8,965,707 | * | Rolls-Royce Group plc | 9,124 | |||||||
| 994,611 | Rotork plc | 2,922 | ||||||||
| 63,000 | * | Ruentex Engineering & Construction Co | 218 | |||||||
| 213,000 | Run Long Construction Co Ltd | 481 | ||||||||
| 80,493 | Rush Enterprises, Inc (Class A) | 3,880 | ||||||||
| 8,087 | Rush Enterprises, Inc (Class B) | 401 | ||||||||
| 73,801 | Russel Metals, Inc | 1,492 | ||||||||
| 85,607 | Saab AB (Class B) | 3,540 | ||||||||
| 473,306 | e | Sacyr Vallehermoso S.A. | 1,141 | |||||||
| 557,684 | Safran S.A. | 55,526 | ||||||||
| 29,163 | e | Salcef S.p.A | 509 | |||||||
| 27,449 | * | SAM KANG M&T Co Ltd | 488 | |||||||
| 7,959 | Samho International Co Ltd | 130 | ||||||||
| 109,830 | Samsung C&T Corp | 10,456 | ||||||||
| 108,483 | * | Samsung Engineering Co Ltd | 1,803 | |||||||
| 435,863 | * | Samsung Heavy Industries Co Ltd | 2,039 | |||||||
| 127,431 | Samsung Techwin Co Ltd | 4,783 | ||||||||
| 207,000 | San Shing Fastech Corp | 388 | ||||||||
| 2,283,930 | Sandvik AB | 37,221 | ||||||||
| 38,800 | Sanki Engineering Co Ltd | 439 | ||||||||
| 219,141 | Sanwa Shutter Corp | 2,099 | ||||||||
| 1,297,000 | Sany Heavy Equipment International | 1,371 | ||||||||
| 583,957 | Sany Heavy Industry Co Ltd | 1,666 | ||||||||
| 9,200 | Sanyo Denki Co Ltd | 355 | ||||||||
| 11,629 | * | Sarcos Technology and Robotics Corp | 31 | |||||||
| 46,959 | Saudi Ceramic Co | 550 | ||||||||
| 61,657 | e | Savaria Corp | 625 | |||||||
| 49,095 | Schaeffler India Ltd | 1,428 | ||||||||
| 101,331 | Schindler Holding AG. | 18,529 | ||||||||
| 150,807 | Schindler Holding AG. (Registered) | 27,160 | ||||||||
| 581,730 | Schneider Electric S.A. | 69,316 | ||||||||
| 1,214 | e | Schweiter Technologies AG. | 1,151 | |||||||
| 25,595 | Sekisui Jushi Corp | 318 | ||||||||
| 19,804,892 | *,e | SembCorp Marine Ltd | 1,540 | |||||||
| 11,991 | e | Semperit AG. Holding | 233 | |||||||
| 504,494 | * | Senior plc | 711 | |||||||
| 80,590 | Sensata Technologies Holding plc | 3,329 | ||||||||
| 192,029 | Seven Group Holdings Ltd | 2,208 | ||||||||
| 21,219 | SFA Engineering Corp | 647 | ||||||||
| 26,382 | SFS Group AG. | 2,677 | ||||||||
| 74,002 | * | SGL Carbon AG. | 467 | |||||||
| 380,627 | * | Shanghai Construction Group Co Ltd | 172 | |||||||
| 32 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 569,700 | Shanghai Diesel Engine Co Ltd | $ | 292 | |||||||
| 857,803 | Shanghai Electric Group Co Ltd | 527 | ||||||||
| 337,300 | * | Shanghai Highly Group Co Ltd | 171 | |||||||
| 464,000 | Shanghai Industrial Holdings Ltd | 672 | ||||||||
| 281,100 | Shanghai Mechanical and Electrical Industry Co Ltd | 337 | ||||||||
| 414,100 | * | Shanghai Zhongyida Co Ltd | 234 | |||||||
| 171,543 | Shapir Engineering and Industry Ltd | 1,406 | ||||||||
| 168,040 | Shenzhen Inovance Technology Co Ltd | 1,658 | ||||||||
| 23,536 | Shibaura Machine Co Ltd | 457 | ||||||||
| 15,800 | Shibuya Kogyo Co Ltd | 273 | ||||||||
| 294,340 | * | Shikun & Binui Ltd | 1,207 | |||||||
| 31,800 | Shima Seiki Manufacturing Ltd | 490 | ||||||||
| 363,544 | Shimizu Corp | 2,008 | ||||||||
| 174,000 | Shin Zu Shing Co Ltd | 479 | ||||||||
| 33,584 | Shinko Plantech Co Ltd | 283 | ||||||||
| 55,500 | Shinmaywa Industries Ltd | 442 | ||||||||
| 11,300 | Shinnihon Corp | 59 | ||||||||
| 299,240 | *,e | Shoals Technologies Group, Inc | 4,931 | |||||||
| 45,108 | SHO-BOND Holdings Co Ltd | 1,988 | ||||||||
| 508,386 | Shyft Group, Inc | 9,451 | ||||||||
| 96,600 | * | Sichuan New Energy Power Co Ltd | 320 | |||||||
| 364,200 | Sichuan Road & Bridge Co Ltd | 574 | ||||||||
| 1,522,980 | Siemens AG. | 156,557 | ||||||||
| 921,122 | Siemens Energy AG. | 13,576 | ||||||||
| 32,937 | * | Siemens Gamesa Renewable Energy | 621 | |||||||
| 78,257 | Siemens India Ltd | 2,385 | ||||||||
| 43,800 | Sieyuan Electric Co Ltd | 234 | ||||||||
| 888,978 | * | SIG plc | 323 | |||||||
| 232,552 | Signify NV | 7,672 | ||||||||
| 3,337,859 | Sime Darby BHD | 1,615 | ||||||||
| 19,800 | Simpson Manufacturing Co, Inc | 1,992 | ||||||||
| 885,707 | Singapore Technologies Engineering Ltd | 2,607 | ||||||||
| 1,410,300 | Sino Thai Engineering & Construction PCL | 488 | ||||||||
| 1,998,500 | Sinopec Engineering Group Co Ltd | 917 | ||||||||
| 894,967 | Sinotruk Hong Kong Ltd | 1,260 | ||||||||
| 67,530 | * | SiteOne Landscape Supply, Inc | 8,027 | |||||||
| 43,300 | SK Holdings Co Ltd | 7,206 | ||||||||
| 406,311 | SK Networks Co Ltd | 1,319 | ||||||||
| 47,218 | Skanska AB (B Shares) | 726 | ||||||||
| 648,840 | SKF AB (B Shares) | 9,626 | ||||||||
| 26,868 | SKF India Ltd | 1,242 | ||||||||
| 174,576 | SM Investments Corp | 2,484 | ||||||||
| 38,863 | SMC Corp | 17,299 | ||||||||
| 1,910,639 | Smiths Group plc | 32,674 | ||||||||
| 47,857 | Snap-On, Inc | 9,429 | ||||||||
| 205,786 | e | SNC-Lavalin Group, Inc | 3,540 | |||||||
| 276,502 | Sojitz Holdings Corp | 3,919 | ||||||||
| 6,617 | Solar Holdings AS (B Shares) | 568 | ||||||||
| 49,581 | *,e | Soltec Power Holdings S.A. | 206 | |||||||
| 8,539 | Somfy S.A. | 1,112 | ||||||||
| 100,228 | Spirax-Sarco Engineering plc | 12,088 | ||||||||
| 277,042 | Spirit Aerosystems Holdings, Inc (Class A) | 8,117 | ||||||||
| 33 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 364,182 | * | SPX Corp | $ | 19,243 | ||||||
| 50,419 | Stabilus S.A. | 2,478 | ||||||||
| 57,699 | e | Stadler Rail AG. | 1,880 | |||||||
| 15,644 | Standex International Corp | 1,326 | ||||||||
| 147,558 | Stanley Black & Decker, Inc | 15,473 | ||||||||
| 40,066 | Star Micronics Co Ltd | 479 | ||||||||
| 9,838 | Steico SE | 698 | ||||||||
| 198,380 | *,e | Stem, Inc | 1,420 | |||||||
| 55,655 | * | Sterling & Wilson Solar Ltd | 210 | |||||||
| 28,345 | * | Sterling Construction Co, Inc | 621 | |||||||
| 1,605,394 | e | Storskogen Group AB | 2,265 | |||||||
| 17,769 | * | Strabag SE | 755 | |||||||
| 22,540 | Sulzer AG. | 1,405 | ||||||||
| 1,290,270 | Sumitomo Corp | 17,539 | ||||||||
| 18,097 | Sumitomo Densetsu Co Ltd | 346 | ||||||||
| 263,300 | Sumitomo Heavy Industries Ltd | 5,829 | ||||||||
| 187,637 | Sumitomo Mitsui Construction Co Ltd | 637 | ||||||||
| 1,352,000 | * | Sun King Power Electronics Group Ltd | 503 | |||||||
| 93,570 | Sungrow Power Supply Co Ltd | 1,378 | ||||||||
| 175,779 | * | Sunrun, Inc | 4,106 | |||||||
| 2,237,800 | Sunway BHD | 864 | ||||||||
| 339,200 | Sunway Construction Group BHD | 116 | ||||||||
| 71,763 | * | Sunwoda Electronic Co Ltd | 340 | |||||||
| 10,400 | Suzhou Maxwell Technologies Co Ltd | 766 | ||||||||
| 6,100,669 | * | Suzlon Energy Ltd | 533 | |||||||
| 252,226 | e | Sweco AB | 2,629 | |||||||
| 638,000 | Ta Ya Electric Wire & Cable | 557 | ||||||||
| 115,722 | Tadano Ltd | 763 | ||||||||
| 643,180 | *,e | Taihan Electric Wire Co Ltd | 918 | |||||||
| 12,543 | Taihei Dengyo Kaisha Ltd | 272 | ||||||||
| 31,053 | Taikisha Ltd | 728 | ||||||||
| 124,586 | Taisei Corp | 3,885 | ||||||||
| 1,205,000 | Taiwan Glass Industrial Corp | 723 | ||||||||
| 14,639 | Takamatsu Corp | 222 | ||||||||
| 31,564 | Takara Standard Co Ltd | 291 | ||||||||
| 84,841 | Takasago Thermal Engineering Co Ltd | 1,008 | ||||||||
| 126,700 | Takeuchi Manufacturing Co Ltd | 2,174 | ||||||||
| 75,700 | Takuma Co Ltd | 742 | ||||||||
| 77,852 | e,g | Talgo S.A. | 262 | |||||||
| 2,033,000 | * | Tatung Co Ltd | 2,320 | |||||||
| 75,000 | Taurus Armas S.A. | 233 | ||||||||
| 283,066 | TBEA Co Ltd | 1,162 | ||||||||
| 1,402,975 | Techtronic Industries Co | 14,650 | ||||||||
| 1,818,000 | Teco Electric and Machinery Co Ltd | 1,828 | ||||||||
| 189,782 | Tekfen Holding AS | 245 | ||||||||
| 9,690 | Tennant Co | 574 | ||||||||
| 434,505 | Terex Corp | 11,892 | ||||||||
| 19,128 | *,e | Terran Orbital Corp | 88 | |||||||
| 33,243 | Textainer Group Holdings Ltd | 911 | ||||||||
| 792,487 | Textron, Inc | 48,397 | ||||||||
| 57,750 | Thales S.A. | 7,090 | ||||||||
| 5,390,000 | * | Theme International Holdings Ltd | 729 | |||||||
| 34 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 43,668 | Thermax Ltd | $ | 1,163 | |||||||
| 29,071 | * | Thermon Group Holdings | 408 | |||||||
| 135,900 | * | THK Co Ltd | 2,560 | |||||||
| 9,883,100 | Thoresen Thai Agencies PCL | 2,465 | ||||||||
| 19,646 | Timken Co | 1,042 | ||||||||
| 25,665 | Timken India Ltd | 775 | ||||||||
| 102,135 | * | Titan International, Inc | 1,542 | |||||||
| 108,377 | * | Titan Machinery, Inc | 2,429 | |||||||
| 142,900 | Titan Wind Energy Suzhou Co Ltd | 354 | ||||||||
| 46,330 | TKH Group NV | 1,745 | ||||||||
| 13,600 | Toa Corp/Tokyo | 249 | ||||||||
| 66,411 | Tocalo Co Ltd | 605 | ||||||||
| 244,456 | Toda Corp | 1,294 | ||||||||
| 9,815 | Toenec Corp | 253 | ||||||||
| 111,100 | Tokai Corp | 726 | ||||||||
| 80,702 | Tokyu Construction Co Ltd | 378 | ||||||||
| 43,587 | Toro Co | 3,303 | ||||||||
| 161,239 | Toromont Industries Ltd | 13,037 | ||||||||
| 204,992 | Toshiba Corp | 8,329 | ||||||||
| 27,077 | Totetsu Kogyo Co Ltd | 484 | ||||||||
| 92,528 | Toto Ltd | 3,064 | ||||||||
| 71,803 | Toyo Construction Co Ltd | 473 | ||||||||
| 15,700 | Toyo Tanso Co Ltd | 328 | ||||||||
| 96,471 | Toyota Industries Corp | 5,982 | ||||||||
| 140,258 | Toyota Tsusho Corp | 4,573 | ||||||||
| 7,615 | * | TPI Composites, Inc | 95 | |||||||
| 771,175 | Trane Technologies plc | 100,153 | ||||||||
| 1,384 | * | Transcat Inc | 79 | |||||||
| 70,718 | * | TransDigm Group, Inc | 37,952 | |||||||
| 948,621 | Travis Perkins plc | 11,244 | ||||||||
| 439,067 | Trelleborg AB (B Shares) | 8,883 | ||||||||
| 186,128 | * | Trex Co, Inc | 10,129 | |||||||
| 61,070 | Trinity Industries, Inc | 1,479 | ||||||||
| 53,069 | Triton International Ltd | 2,794 | ||||||||
| 55,623 | * | Triumph Group, Inc | 739 | |||||||
| 92,314 | Triveni Turbine Ltd | 183 | ||||||||
| 65,050 | Troax Group AB | 1,130 | ||||||||
| 54,710 | Trusco Nakayama Corp | 694 | ||||||||
| 27,990 | Tsubakimoto Chain Co | 627 | ||||||||
| 44,800 | Tsugami Corp | 374 | ||||||||
| 16,408 | Turk Traktor ve Ziraat Makineleri AS | 215 | ||||||||
| 1,509,763 | Turkiye Sise ve Cam Fabrikalari AS | 1,945 | ||||||||
| 38,279 | * | Tutor Perini Corp | 336 | |||||||
| 31,056 | * | TY Holdings Co Ltd | 450 | |||||||
| 231,758 | Tyman plc | 672 | ||||||||
| 145,935 | UFP Industries, Inc | 9,944 | ||||||||
| 82,757 | Ultra Electronics Holdings | 3,488 | ||||||||
| 10,100 | Union Tool Co | 240 | ||||||||
| 194,000 | United Integrated Services Co Ltd | 964 | ||||||||
| 141,138 | * | United Rentals, Inc | 34,284 | |||||||
| 279,909 | * | Univar Solutions Inc | 6,961 | |||||||
| 64,677 | Uponor Oyj | 898 | ||||||||
| 35 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 113,900 | Ushio, Inc | $ | 1,411 | |||||||
| 467,900 | UWC BHD | 351 | ||||||||
| 192,067 | Valmet Corp | 4,733 | ||||||||
| 19,320 | Valmont Industries, Inc | 4,340 | ||||||||
| 21,485 | e | Varta AG. | 1,800 | |||||||
| 28,790 | g | VAT Group AG. | 6,885 | |||||||
| 71,083 | * | Vectrus, Inc | 2,378 | |||||||
| 131,688 | Veidekke ASA | 1,201 | ||||||||
| 8,715 | *,e | Velo3D, Inc | 12 | |||||||
| 298,563 | Ventia Services Group Pty Ltd | 512 | ||||||||
| 2,625 | * | Veritiv Corp | 285 | |||||||
| 290,985 | Vertiv Holdings Co | 2,392 | ||||||||
| 427,653 | Vestas Wind Systems A.S. | 9,093 | ||||||||
| 178,721 | *,e | Vestum AB | 270 | |||||||
| 279,721 | Vesuvius plc | 1,035 | ||||||||
| 173,269 | V-Guard Industries Ltd | 496 | ||||||||
| 17,491 | * | Vicor Corp | 957 | |||||||
| 90,683 | *,e | View, Inc | 147 | |||||||
| 839,350 | Vinci S.A. | 75,341 | ||||||||
| 115,386 | *,e | Virgin Galactic Holdings, Inc | 695 | |||||||
| 27,974 | Volati AB | 349 | ||||||||
| 400,387 | Volex plc | 1,172 | ||||||||
| 253,644 | Voltas Ltd | 3,137 | ||||||||
| 71,000 | Voltronic Power Technology Corp | 3,444 | ||||||||
| 231,233 | Volution Group plc | 944 | ||||||||
| 27,342 | Volvo AB (A Shares) | 443 | ||||||||
| 627,442 | Volvo AB (B Shares) | 9,763 | ||||||||
| 8,086 | Vossloh AG. | 259 | ||||||||
| 265,160 | W.W. Grainger, Inc | 120,497 | ||||||||
| 289,307 | Wabash National Corp | 3,929 | ||||||||
| 79,057 | Wacker Construction Equipment AG. | 1,372 | ||||||||
| 39,600 | Wakita & Co Ltd | 350 | ||||||||
| 2,700,000 | Walsin Lihwa Corp | 3,273 | ||||||||
| 2,453,197 | e | Wartsila Oyj (B Shares) | 19,230 | |||||||
| 9,448,700 | * | Waskita Karya Persero Tbk PT | 350 | |||||||
| 30,475 | Watsco, Inc | 7,278 | ||||||||
| 10,014 | Watts Water Technologies, Inc (Class A) | 1,230 | ||||||||
| 474,071 | e | Webuild SpA | 738 | |||||||
| 1,851,250 | Weg S.A. | 9,356 | ||||||||
| 1,420,709 | Weichai Power Co Ltd | 2,263 | ||||||||
| 313,486 | Weichai Power Co Ltd (Class A) | 586 | ||||||||
| 1,974,990 | Weir Group plc | 32,917 | ||||||||
| 213,377 | * | Welbilt, Inc | 5,081 | |||||||
| 27,155 | * | WESCO International, Inc | 2,908 | |||||||
| 802,186 | Westinghouse Air Brake Technologies Corp | 65,843 | ||||||||
| 3,505,300 | * | Wijaya Karya Persero Tbk PT | 229 | |||||||
| 66,929 | * | WillScot Mobile Mini Holdings Corp | 2,170 | |||||||
| 58,106 | Wilson Bayly Holmes-Ovcon Ltd | 289 | ||||||||
| 54,366 | Woodward Inc | 5,028 | ||||||||
| 140,224 | WSP Global, Inc | 15,855 | ||||||||
| 31,313 | Wuxi Lead Intelligent Equipment Co Ltd | 296 | ||||||||
| 18,480 | Wuxi Shangji Automation Co Ltd | 432 | ||||||||
| 36 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 17,660 | e | XANO Industri AB | $ | 220 | ||||||
| 656,738 | XCMG Construction Machinery Co Ltd | 530 | ||||||||
| 219,611 | Xiamen C & D, Inc | 429 | ||||||||
| 271,767 | Xinjiang Goldwind Science & Technology Co Ltd - A | 603 | ||||||||
| 917,813 | Xinjiang Goldwind Science & Technology Co Ltd - H | 1,722 | ||||||||
| 1,880,000 | Xinyi Glass Holdings Co Ltd | 4,536 | ||||||||
| 8,421 | *,e | Xos, Inc | 16 | |||||||
| 172,000 | Xxentria Technology Materials Corp | 370 | ||||||||
| 61,353 | Xylem, Inc | 4,797 | ||||||||
| 41,980 | e | YAMABIKO Corp | 355 | |||||||
| 62,070 | Yamazen Corp | 454 | ||||||||
| 2,976,100 | Yangzijiang Shipbuilding | 1,993 | ||||||||
| 43,822 | Yaskawa Electric Corp | 1,415 | ||||||||
| 209,965 | *,g | Yellow Cake plc | 834 | |||||||
| 170,694 | e | YIT Oyj | 570 | |||||||
| 61,279 | Yokogawa Bridge Holdings Corp | 882 | ||||||||
| 18,652 | Yuasa Trading Co Ltd | 461 | ||||||||
| 40,800 | Yurtec Corp | 222 | ||||||||
| 11,832 | Zehnder Group AG. | 700 | ||||||||
| 254,400 | Zhefu Holding Group Co Ltd | 183 | ||||||||
| 154,863 | Zhejiang Chint Electrics Co Ltd | 830 | ||||||||
| 21,192 | Zhejiang Dingli Machinery Co Ltd | 161 | ||||||||
| 23,821 | Zhejiang HangKe Technology, Inc Co | 250 | ||||||||
| 129,651 | Zhejiang Weixing New Building Materials Co Ltd | 466 | ||||||||
| 260,600 | e | Zhengzhou Coal Mining Machinery Group Co Ltd | 306 | |||||||
| 41,682 | * | Zhuzhou CRRC Times Electric Co Ltd | 406 | |||||||
| 392,400 | Zhuzhou CSR Times Electric Co Ltd | 1,940 | ||||||||
| 229,800 | Zhuzhou Kibing Group Co Ltd | 439 | ||||||||
| 550,139 | Zoomlion Heavy Industry Science and Technology Co Ltd - A | 507 | ||||||||
| 1,264,138 | Zoomlion Heavy Industry Science and Technology Co Ltd - H | 677 | ||||||||
| 287,993 | Zurn Water Solutions Corp | 7,845 | ||||||||
| TOTAL CAPITAL GOODS | 7,296,813 | |||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 1.3% | ||||||||||
| 142,987 | ABM Industries, Inc | 6,208 | ||||||||
| 394,271 | ACCO Brands Corp | 2,575 | ||||||||
| 87,164 | * | ACV Auctions, Inc | 570 | |||||||
| 169,269 | Adecco S.A. | 5,770 | ||||||||
| 40,320 | Aeon Delight Co Ltd | 883 | ||||||||
| 142,538 | AF AB | 1,965 | ||||||||
| 1,299,322 | * | Aker Carbon Capture AS. | 2,241 | |||||||
| 172,559 | *,e | Aker Horizons Holding ASA | 284 | |||||||
| 283,217 | * | Alight, Inc | 1,912 | |||||||
| 537,675 | ALS Ltd | 3,978 | ||||||||
| 7,667 | Amadeus Fire AG | 960 | ||||||||
| 51,400 | Ambipar Participacoes e Empreendimentos S | 219 | ||||||||
| 35,855 | * | Anaergia, Inc | 188 | |||||||
| 317,738 | * | APM Human Services International ltd | 629 | |||||||
| 165,293 | Applus Services S.A. | 1,143 | ||||||||
| 222,029 | Aris Water Solution, Inc | 3,703 | ||||||||
| 143,207 | * | ASGN Inc | 12,924 | |||||||
| 36,877 | *,e | Atlas Technical Consultants, Inc | 194 | |||||||
| 37 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 5,108 | Barrett Business Services, Inc | $ | 372 | |||||||
| 42,979 | BayCurrent Consulting, Inc | 11,491 | ||||||||
| 46,228 | g | Befesa S.A. | 2,253 | |||||||
| 275,323 | Beijing Originwater Technology Co Ltd | 215 | ||||||||
| 314,200 | Benefit One, Inc | 4,257 | ||||||||
| 68,147 | e | BeNEXT Group Inc | 753 | |||||||
| 7,490 | Bertrandt AG. | 282 | ||||||||
| 361,509 | g | Biffa plc | 1,649 | |||||||
| 35,090 | Bilfinger Berger AG. | 1,031 | ||||||||
| 104,500 | Binjiang Service Group Co Ltd | 326 | ||||||||
| 682,440 | Boa Vista Servicos S.A. | 698 | ||||||||
| 205,114 | Booz Allen Hamilton Holding Co | 18,534 | ||||||||
| 113,072 | e | Boyd Group Services, Inc | 12,180 | |||||||
| 90,008 | Brady Corp (Class A) | 4,252 | ||||||||
| 1,526,471 | Brambles Ltd | 11,287 | ||||||||
| 238,990 | g | Bravida Holding AB | 2,083 | |||||||
| 35,889 | * | BrightView Holdings, Inc | 431 | |||||||
| 7,693 | Brink’s Co | 467 | ||||||||
| 93,363 | Brunel International NV | 1,016 | ||||||||
| 408,729 | e | Bureau Veritas S.A. | 10,516 | |||||||
| 20,626 | * | CACI International, Inc (Class A) | 5,812 | |||||||
| 12,870 | e | Calian Group Ltd | 631 | |||||||
| 36,852 | * | Casella Waste Systems, Inc (Class A) | 2,678 | |||||||
| 122,252 | Caverion Corp | 567 | ||||||||
| 8,613 | * | CBIZ, Inc | 344 | |||||||
| 6,588 | Cewe Color Holding AG. | 557 | ||||||||
| 1,973,000 | * | China Conch Environment Protection Holdings Ltd | 1,373 | |||||||
| 2,801,085 | China Everbright International Ltd | 1,656 | ||||||||
| 43,485 | * | Cimpress plc | 1,692 | |||||||
| 85,333 | Cintas Corp | 31,874 | ||||||||
| 412,522 | *,e | Clarivate Analytics plc | 5,718 | |||||||
| 76,059 | * | Clean Harbors, Inc | 6,668 | |||||||
| 101,000 | Cleanaway Co Ltd | 586 | ||||||||
| 3,163,710 | Cleanaway Waste Management Ltd | 5,507 | ||||||||
| 798 | Compx International, Inc | 19 | ||||||||
| 111,287 | g | Coor Service Management Holding AB | 875 | |||||||
| 206,246 | * | Copart, Inc | 22,411 | |||||||
| 97,313 | * | CoreCivic, Inc | 1,081 | |||||||
| 346,997 | * | CoStar Group, Inc | 20,962 | |||||||
| 5,397 | CRA International, Inc | 482 | ||||||||
| 1,370,700 | CTOS Digital Bhd | 395 | ||||||||
| 1,958,533 | Dai Nippon Printing Co Ltd | 42,129 | ||||||||
| 50,065 | Daiseki Co Ltd | 1,563 | ||||||||
| 6,118 | Danel Adir Yeoshua Ltd | 775 | ||||||||
| 90,439 | Deluxe Corp | 1,960 | ||||||||
| 112,775 | Derichebourg | 655 | ||||||||
| 75,166 | DKSH Holding AG. | 6,220 | ||||||||
| 8,435 | *,e | DO & CO AG. | 710 | |||||||
| 799,978 | Downer EDI Ltd | 2,791 | ||||||||
| 47,433 | * | Driven Brands Holdings, Inc | 1,306 | |||||||
| 148,534 | * | Dun & Bradstreet Holdings, Inc | 2,232 | |||||||
| 45,898 | Duskin Co Ltd | 979 | ||||||||
| 38 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 386,000 | Dynagreen Environmental Protection Group Co Ltd | $ | 162 | |||||||
| 12,636 | Ecopro HN Co Ltd | 377 | ||||||||
| 38,000 | ECOVE Environment Corp | 318 | ||||||||
| 327,233 | Elis S.A. | 4,379 | ||||||||
| 37,120 | en-japan, Inc | 486 | ||||||||
| 21,164 | Ennis, Inc | 428 | ||||||||
| 113,462 | Equifax, Inc | 20,739 | ||||||||
| 638,569 | Experian Group Ltd | 18,749 | ||||||||
| 59,788 | Exponent, Inc | 5,469 | ||||||||
| 29,016 | e | Fila S.p.A | 253 | |||||||
| 475,982 | * | First Advantage Corp | 6,031 | |||||||
| 30,544 | * | Forrester Research, Inc | 1,461 | |||||||
| 42,147 | * | Franklin Covey Co | 1,946 | |||||||
| 3,021,700 | Frontken Corp BHD | 1,577 | ||||||||
| 31,086 | * | FTI Consulting, Inc | 5,622 | |||||||
| 21,965 | Fullcast Co Ltd | 352 | ||||||||
| 72,654 | Funai Soken Holdings, Inc | 1,158 | ||||||||
| 16,193 | * | GDI Integrated Facility Services, Inc | 574 | |||||||
| 95,510 | *,e | Geo Group, Inc | 630 | |||||||
| 213,535 | e | GFL Environmental, Inc | 5,501 | |||||||
| 306,700 | g | GPS Participacoes e Empreendimentos S.A. | 618 | |||||||
| 19,473 | * | Grupa Pracuj S.A. | 244 | |||||||
| 65,474 | * | Harsco Corp | 466 | |||||||
| 1,956,995 | Hays plc | 2,676 | ||||||||
| 97,502 | Healthcare Services Group | 1,698 | ||||||||
| 22,508 | Heidrick & Struggles International, Inc | 728 | ||||||||
| 56,926 | * | Heritage-Crystal Clean, Inc | 1,535 | |||||||
| 62,921 | Herman Miller, Inc | 1,653 | ||||||||
| 4,916 | * | HireRight Holdings Corp | 70 | |||||||
| 6,852 | e | HNI Corp | 238 | |||||||
| 649,473 | HomeServe plc | 9,266 | ||||||||
| 37,045 | * | Huron Consulting Group, Inc | 2,408 | |||||||
| 130,433 | * | IAA, Inc | 4,274 | |||||||
| 176,464 | ICF International, Inc | 16,764 | ||||||||
| 258,370 | Indian Railway Catering & Tourism Corp Ltd | 1,894 | ||||||||
| 26,006 | Insource Co Ltd | 436 | ||||||||
| 53,725 | Insperity, Inc | 5,363 | ||||||||
| 30,740 | * | Insun ENT Co Ltd | 205 | |||||||
| 153,248 | Interface, Inc | 1,922 | ||||||||
| 218,989 | Intertek Group plc | 11,256 | ||||||||
| 103,789 | *,g | Intertrust NV | 2,082 | |||||||
| 885,568 | Intrum Justitia AB | 16,940 | ||||||||
| 240,023 | IPH Ltd | 1,350 | ||||||||
| 10,844 | e | IR Japan Holdings Ltd | 164 | |||||||
| 183,534 | * | ISS AS | 2,926 | |||||||
| 16,600 | JAC Recruitment Co Ltd | 213 | ||||||||
| 114,415 | Jacobs Engineering Group, Inc | 14,546 | ||||||||
| 994,300 | Japan Elevator Service Holdings Co Ltd | 10,400 | ||||||||
| 537,649 | * | Johnson Service Group plc | 652 | |||||||
| 98,592 | * | KAR Auction Services, Inc | 1,456 | |||||||
| 121,298 | KBR, Inc | 5,870 | ||||||||
| 98,619 | Kelly Services, Inc (Class A) | 1,956 | ||||||||
| 39 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 24,686 | KEPCO Plant Service & Engineering Co Ltd | $ | 731 | |||||||
| 159,990 | Kforce, Inc | 9,814 | ||||||||
| 49,767 | Kimball International, Inc (Class B) | 382 | ||||||||
| 98,308 | Kokuyo Co Ltd | 1,246 | ||||||||
| 41,861 | Korn/Ferry International | 2,429 | ||||||||
| 18,336 | *,e | Legalzoom.com, Inc | 202 | |||||||
| 124,956 | Leidos Holdings, Inc | 12,584 | ||||||||
| 77,406 | * | Li-Cycle Holdings Corp | 533 | |||||||
| 82,901 | LifeWorks, Inc | 1,989 | ||||||||
| 38,889 | e | Link And Motivation, Inc | 137 | |||||||
| 87,534 | Loomis AB | 2,138 | ||||||||
| 18,691 | Maharah Human Resources Co | 307 | ||||||||
| 11,500 | * | Management Solutions Co Ltd | 194 | |||||||
| 47,368 | Manpower, Inc | 3,619 | ||||||||
| 17,141 | Mantech International Corp (Class A) | 1,636 | ||||||||
| 102,847 | * | Marlowe plc | 926 | |||||||
| 14,262 | Matsuda Sangyo Co Ltd | 211 | ||||||||
| 25,821 | Matthews International Corp (Class A) | 740 | ||||||||
| 79,336 | McMillan Shakespeare Ltd | 534 | ||||||||
| 83,184 | Meitec Corp | 1,341 | ||||||||
| 184,096 | *,e | Meltwater Holding BV | 196 | |||||||
| 386,038 | Michael Page International plc | 1,891 | ||||||||
| 9,000 | Midac Holdings Co Ltd | 187 | ||||||||
| 1,716,902 | Mitie Group | 1,179 | ||||||||
| 47,444 | e | Mitsubishi Pencil Co Ltd | 513 | |||||||
| 4,240 | * | Montrose Environmental Group, Inc | 143 | |||||||
| 34,040 | MSA Safety, Inc | 4,121 | ||||||||
| 44,852 | NICE Information Service Co Ltd | 499 | ||||||||
| 321,248 | Nielsen NV | 7,459 | ||||||||
| 715,270 | Nihon M&A Center, Inc | 7,625 | ||||||||
| 19,200 | Nippon Kanzai Co Ltd | 367 | ||||||||
| 218,111 | Nippon Parking Development Co Ltd | 274 | ||||||||
| 8,559 | NL Industries, Inc | 84 | ||||||||
| 253,348 | Nomura Co Ltd | 1,736 | ||||||||
| 67,928 | Okamura Corp | 606 | ||||||||
| 134,909 | Outsourcing, Inc | 1,032 | ||||||||
| 201,400 | Park24 Co Ltd | 2,785 | ||||||||
| 24,300 | Pasona Group, Inc | 338 | ||||||||
| 135,826 | Persol Holdings Co Ltd | 2,480 | ||||||||
| 33,842 | Pilot Corp | 1,205 | ||||||||
| 392,213 | Pitney Bowes, Inc | 1,420 | ||||||||
| 41,342 | *,e | Planet Labs PBC | 179 | |||||||
| 123,827 | Prestige International, Inc | 619 | ||||||||
| 513,742 | e,g | Prosegur Cash S.A. | 335 | |||||||
| 220,043 | Prosegur Cia de Seguridad S.A. | 390 | ||||||||
| 15,649,500 | * | PSG Corp PCL | 468 | |||||||
| 100,932 | *,e | PyroGenesis Canada, Inc | 195 | |||||||
| 28,132 | * | Quad Graphics, Inc | 77 | |||||||
| 84,491 | g | Quess Corp Ltd | 660 | |||||||
| 372,303 | *,e | Raksul, Inc | 5,158 | |||||||
| 125,284 | e | Randstad Holdings NV | 6,055 | |||||||
| 4,778,574 | Recruit Holdings Co Ltd | 140,731 | ||||||||
| 40 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,450 | * | Red Violet, Inc | $ | 28 | ||||||
| 240,190 | RELX plc | 6,495 | ||||||||
| 2,198,200 | RELX plc | 59,684 | ||||||||
| 96,408 | * | Renewi plc | 848 | |||||||
| 1,946,253 | Rentokil Initial plc | 11,282 | ||||||||
| 187,450 | Republic Services, Inc | 24,532 | ||||||||
| 27,095 | Resources Connection, Inc | 552 | ||||||||
| 151,152 | Restore plc | 804 | ||||||||
| 131,793 | Ritchie Bros Auctioneers, Inc | 8,575 | ||||||||
| 107,909 | Robert Half International, Inc | 8,081 | ||||||||
| 225,076 | Rollins, Inc | 7,860 | ||||||||
| 360,889 | RWS Holdings plc | 1,523 | ||||||||
| 20,488 | S1 Corp (Korea) | 1,016 | ||||||||
| 97,352 | Sato Corp | 1,341 | ||||||||
| 44,712 | * | Saudi Airlines Catering Co | 853 | |||||||
| 51,484 | Science Applications International Corp | 4,793 | ||||||||
| 34,125 | *,e | Sdiptech AB | 791 | |||||||
| 193,506 | Secom Co Ltd | 11,948 | ||||||||
| 323,680 | Securitas AB (B Shares) | 2,798 | ||||||||
| 1,419,670 | Serco Group plc | 3,011 | ||||||||
| 122,207 | SG Fleet Group Ltd | 181 | ||||||||
| 6,663 | SGS S.A. | 15,283 | ||||||||
| 41,435 | Shanghai M&G Stationery, Inc | 348 | ||||||||
| 100,500 | *,† | Shanghai Youngsun Investment Co Ltd | 1 | |||||||
| 34,894 | * | SIS Ltd | 201 | |||||||
| 151,377 | Smart Metering Systems plc | 1,510 | ||||||||
| 306,202 | SmartGroup Corp Ltd | 1,294 | ||||||||
| 358,287 | SMS Co Ltd | 7,107 | ||||||||
| 27,721 | Societe BIC S.A. | 1,521 | ||||||||
| 88,100 | Sohgo Security Services Co Ltd | 2,446 | ||||||||
| 10,907 | * | SP Plus Corp | 335 | |||||||
| 430,023 | SPIE S.A. | 9,385 | ||||||||
| 101,123 | *,e | Spire Global, Inc | 117 | |||||||
| 77,832 | S-Pool, Inc | 649 | ||||||||
| 86,000 | Sporton International, Inc | 507 | ||||||||
| 129,777 | e | Stantec, Inc | 5,685 | |||||||
| 72,712 | Steelcase, Inc (Class A) | 780 | ||||||||
| 80,570 | * | Stericycle, Inc | 3,533 | |||||||
| 5,884 | *,e | Sterling Check Corp | 96 | |||||||
| 275,836 | Sthree plc | 1,194 | ||||||||
| 73,000 | Sunny Friend Environmental Technology Co Ltd | 484 | ||||||||
| 435,000 | Taiwan Secom Co Ltd | 1,485 | ||||||||
| 222,000 | Taiwan-Sogo Shinkong Security Corp | 299 | ||||||||
| 36,975 | e | Talenom Oyj | 375 | |||||||
| 10,648 | * | TeamLease Services Ltd | 436 | |||||||
| 560,654 | TechnoPro Holdings, Inc | 11,255 | ||||||||
| 119,990 | Teleperformance | 37,051 | ||||||||
| 11,400 | Tetra Tech, Inc | 1,557 | ||||||||
| 214,037 | Thomson Reuters Corp | 22,313 | ||||||||
| 43,413 | Tinexta S.p.A | 1,017 | ||||||||
| 275,650 | TOMRA Systems ASA | 5,173 | ||||||||
| 205,617 | Toppan Printing Co Ltd | 3,430 | ||||||||
| 41 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 179,985 | TransUnion | $ | 14,397 | |||||||
| 50,400 | TRE Holdings Corp | 702 | ||||||||
| 120,572 | * | TriNet Group, Inc | 9,359 | |||||||
| 111,682 | * | TrueBlue, Inc | 1,999 | |||||||
| 12,354 | Unifirst Corp | 2,127 | ||||||||
| 121,591 | * | Upwork, Inc | 2,515 | |||||||
| 32,999 | UT Group Co Ltd | 547 | ||||||||
| 335,220 | Verisk Analytics, Inc | 58,023 | ||||||||
| 16,431 | * | Viad Corp | 454 | |||||||
| 18,500 | * | Visional, Inc | 839 | |||||||
| 9,308 | VSE Corp | 350 | ||||||||
| 434,460 | Waste Connections, Inc | 53,856 | ||||||||
| 907,547 | Waste Management, Inc | 138,837 | ||||||||
| 12,100 | WDB Holdings Co Ltd | 205 | ||||||||
| 6,500 | Weathernews, Inc | 319 | ||||||||
| 9,176 | * | Willdan Group, Inc | 253 | |||||||
| 311,470 | Wolters Kluwer NV | 30,187 | ||||||||
| 231,000 | *,†,e | Youyuan International Holdings Ltd | 0 | ^ | ||||||
| 70,200 | Zhejiang Weiming Environment Protection Co Ltd | 350 | ||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 1,344,010 | |||||||||
| CONSUMER DURABLES & APPAREL - 1.9% | ||||||||||
| 1,030,000 | * | 361 Degrees International Ltd | 557 | |||||||
| 54,423 | Acushnet Holdings Corp | 2,268 | ||||||||
| 363,544 | Adidas-Salomon AG. | 64,577 | ||||||||
| 436,903 | * | Aditya Birla Fashion and Retail Ltd | 1,315 | |||||||
| 170,820 | Aksa Akrilik Kimya Sanayii | 592 | ||||||||
| 336,642 | * | Allbirds, Inc | 1,323 | |||||||
| 2,019,643 | * | Alok Industries Ltd | 565 | |||||||
| 256,600 | Alpargatas S.A. | 938 | ||||||||
| 17,903 | * | Amber Enterprises India Ltd | 511 | |||||||
| 72,634 | *,e | AMMO, Inc | 280 | |||||||
| 824,000 | AmTRAN Technology Co Ltd | 351 | ||||||||
| 1,315,555 | Anta Sports Products Ltd | 16,190 | ||||||||
| 74,400 | Arezzo Industria e Comercio S.A. | 989 | ||||||||
| 97,347 | Ariston Holding NV | 797 | ||||||||
| 188,573 | Asics Corp | 3,415 | ||||||||
| 98,630 | Azorim-Investment Development & Construction Co Ltd | 373 | ||||||||
| 49,663 | * | Bajaj Electricals Ltd | 645 | |||||||
| 251,136 | Bandai Namco Holdings Inc | 17,728 | ||||||||
| 227,368 | Barratt Developments plc | 1,272 | ||||||||
| 61,715 | Bata India Ltd | 1,309 | ||||||||
| 27,077 | * | Beazer Homes USA, Inc | 327 | |||||||
| 3,917 | Beijing Roborock Technology Co Ltd | 362 | ||||||||
| 144,200 | Bellway plc | 3,791 | ||||||||
| 78,154 | Beneteau S.A. | 794 | ||||||||
| 15,558 | Berkeley Group Holdings plc | 707 | ||||||||
| 94,840 | Bonava AB | 276 | ||||||||
| 537,000 | *,†,e | Boshiwa International Holding Ltd | 1 | |||||||
| 2,300,472 | e | Bosideng International Holdings Ltd | 1,429 | |||||||
| 259,673 | Bovis Homes Group plc | 2,645 | ||||||||
| 116,598 | e | Breville Group Ltd | 1,447 | |||||||
| 42 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 45,369 | BRP, Inc (Toronto) | $ | 2,792 | |||||||
| 39,876 | Brunello Cucinelli S.p.A | 1,801 | ||||||||
| 69,479 | Brunswick Corp | 4,543 | ||||||||
| 56,344 | Burberry Group plc | 1,130 | ||||||||
| 6,583,886 | Cairn Homes plc | 6,865 | ||||||||
| 7,000,131 | Cairn Homes plc (London) | 7,269 | ||||||||
| 665,316 | * | Callaway Golf Co | 13,572 | |||||||
| 65,926 | *,e | Canada Goose Holdings, Inc | 1,189 | |||||||
| 539,538 | * | Capri Holdings Ltd | 22,126 | |||||||
| 3,744 | Carter’s, Inc | 264 | ||||||||
| 230,200 | * | Casio Computer Co Ltd | 2,136 | |||||||
| 12,278 | * | Cavco Industries, Inc | 2,406 | |||||||
| 43,813 | * | CCC S.A. | 454 | |||||||
| 23,129 | Century Communities, Inc | 1,040 | ||||||||
| 599,000 | China Lilang Ltd | 298 | ||||||||
| 21,900 | e | Chofu Seisakusho Co Ltd | 285 | |||||||
| 389,357 | Chow Sang Sang Holding | 435 | ||||||||
| 714,752 | Cie Financiere Richemont S.A. | 76,881 | ||||||||
| 1,506,000 | * | Citychamp Watch & Jewellery Group Ltd | 255 | |||||||
| 7,600 | Clarus Corp | 144 | ||||||||
| 2,171,746 | Coats Group plc | 1,650 | ||||||||
| 3,041 | Columbia Sportswear Co | 218 | ||||||||
| 577,287 | *,g | Countryside Properties plc | 1,750 | |||||||
| 62,928 | Coway Co Ltd | 3,114 | ||||||||
| 32,799 | COWELL FASHION Co Ltd | 155 | ||||||||
| 299,379 | Crest Nicholson Holdings plc | 893 | ||||||||
| 164,808 | * | Crocs, Inc | 8,021 | |||||||
| 744,231 | Crompton Greaves Consumer Electricals Ltd | 3,209 | ||||||||
| 656,375 | g | Crystal International Group Ltd | 227 | |||||||
| 12,391 | Cuckoo Electronics Co Ltd | 153 | ||||||||
| 362,200 | Cyrela Brazil Realty S.A. | 818 | ||||||||
| 19,500 | Daiwa Seiko, Inc | 307 | ||||||||
| 9,467 | Danya Cebus Ltd | 220 | ||||||||
| 28,494 | * | Deckers Outdoor Corp | 7,276 | |||||||
| 88,008 | e | De’Longhi S.p.A. | 1,641 | |||||||
| 13,126 | Delta-Galil Industries Ltd | 647 | ||||||||
| 31,302 | Descente Ltd | 726 | ||||||||
| 14,530 | DI Dong Il Corp | 181 | ||||||||
| 35,111 | Dixon Technologies India Ltd | 1,596 | ||||||||
| 306,941 | DR Horton, Inc | 20,316 | ||||||||
| 1,265,751 | Dr. Martens PLC | 3,689 | ||||||||
| 3,228 | *,e | Dream Finders Homes, Inc | 34 | |||||||
| 37,463 | * | Duni AB | 299 | |||||||
| 631,869 | Eclat Textile Co Ltd | 8,851 | ||||||||
| 28,200 | Ecovacs Robotics Co Ltd | 515 | ||||||||
| 2,124 | Einhell Germany AG. | 323 | ||||||||
| 13,858 | Electra Consumer Products 1970 Ltd | 585 | ||||||||
| 477,288 | e | Electrolux AB | 6,447 | |||||||
| 31,070 | *,e | Ermenegildo Zegna Holditalia S.p.A | 328 | |||||||
| 36,357 | ES-Con Japan Ltd | 205 | ||||||||
| 1,198,479 | Essilor International S.A. | 181,704 | ||||||||
| 20,083 | Ethan Allen Interiors, Inc | 406 | ||||||||
| 43 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 125,700 | Ez Tec Empreendimentos e Participacoes S.A. | $ | 347 | |||||||
| 17,577 | F&F Co Ltd | 1,827 | ||||||||
| 1,282,689 | Feng TAY Enterprise Co Ltd | 7,569 | ||||||||
| 24,654 | *,† | FF Group | 0 | ^ | ||||||
| 58,770 | Fila Korea Ltd | 1,277 | ||||||||
| 1,130 | Forbo Holding AG. | 1,510 | ||||||||
| 789,000 | Formosa Taffeta Co Ltd | 708 | ||||||||
| 39,079 | *,e | Fossil Group, Inc | 202 | |||||||
| 339,999 | *,†,e | Fuguiniao Co Ltd | 0 | ^ | ||||||
| 72,221 | Fujitsu General Ltd | 1,434 | ||||||||
| 159,000 | Fulgent Sun International Holding Co Ltd | 926 | ||||||||
| 106,000 | Fusheng Precision Co Ltd | 680 | ||||||||
| 38,387 | Games Workshop Group plc | 3,125 | ||||||||
| 80,055 | Garmin Ltd | 7,865 | ||||||||
| 8,937 | Garware Technical Fibres Ltd | 349 | ||||||||
| 310,856 | Giant Manufacturing Co Ltd | 2,513 | ||||||||
| 160,110 | * | G-III Apparel Group Ltd | 3,239 | |||||||
| 309,630 | Gildan Activewear, Inc | 8,912 | ||||||||
| 1,547,329 | *,g | Glenveagh Properties plc | 1,513 | |||||||
| 3,460,973 | *,g | Glenveagh Properties plc (London) | 3,379 | |||||||
| 984,000 | *,e | Golden Solar New Energy Technology Holdings Ltd | 1,365 | |||||||
| 28,347 | Goldwin, Inc | 1,593 | ||||||||
| 4,212 | Golfzon co Ltd | 436 | ||||||||
| 474,230 | * | GoPro, Inc | 2,623 | |||||||
| 137,000 | Gree Electric Appliances, Inc of Zhuhai | 692 | ||||||||
| 18,995 | * | Green Brick Partners, Inc | 372 | |||||||
| 355,900 | Grendene S.A. | 478 | ||||||||
| 583,500 | GRUPO DE MODA SOMA S.A. | 1,026 | ||||||||
| 455,900 | Guararapes Confeccoes S.A. | 591 | ||||||||
| 16,318 | Gunze Ltd | 442 | ||||||||
| 2,493,201 | Haier Smart Home Co Ltd | 9,280 | ||||||||
| 428,270 | Haier Smart Home Co Ltd | 1,761 | ||||||||
| 15,816 | Handsome Co Ltd | 375 | ||||||||
| 29,282 | Hanesbrands, Inc | 301 | ||||||||
| 38,505 | Hangzhou Robam Appliances Co Ltd | 208 | ||||||||
| 20,103 | Hansae Co Ltd | 263 | ||||||||
| 11,988 | Hanssem Co Ltd | 595 | ||||||||
| 18,064 | e | Harvia Oyj | 514 | |||||||
| 113,809 | Hasbro, Inc | 9,319 | ||||||||
| 280,572 | Haseko Corp | 3,295 | ||||||||
| 4,099 | *,e | Helen of Troy Ltd | 666 | |||||||
| 25,486 | Hermes International | 28,683 | ||||||||
| 6,806 | * | Hitachi Home & Life Solutions India Ltd | 128 | |||||||
| 108,145 | * | HLB, Inc | 2,962 | |||||||
| 466,000 | *,† | HOSA International Ltd | 1 | |||||||
| 1,457 | * | Hovnanian Enterprises, Inc | 62 | |||||||
| 132,549 | Hugo Boss AG. | 7,019 | ||||||||
| 20,663 | Hwaseung Enterprise Co Ltd | 191 | ||||||||
| 94,150 | Iida Group Holdings Co Ltd | 1,445 | ||||||||
| 75,375 | Indo Count Industries Ltd | 126 | ||||||||
| 3,895 | Installed Building Products, Inc | 324 | ||||||||
| 6,018 | * | iRobot Corp | 221 | |||||||
| 44 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 45,810 | Japan Wool Textile Co Ltd | $ | 333 | |||||||
| 39,284 | Jason Furniture Hangzhou Co Ltd | 333 | ||||||||
| 60,294 | JM AB | 1,002 | ||||||||
| 343,000 | JNBY Design Ltd | 393 | ||||||||
| 128,000 | Johnson Health Tech Co Ltd | 235 | ||||||||
| 4,403 | Johnson Outdoors, Inc | 269 | ||||||||
| 12,952 | Kaufman & Broad S.A. | 354 | ||||||||
| 59,121 | KB Home | 1,683 | ||||||||
| 1,230,000 | * | Kinpo Electronics | 540 | |||||||
| 10,400 | Ki-Star Real Estate Co Ltd | 361 | ||||||||
| 222,000 | KMC Kuei Meng International In | 1,237 | ||||||||
| 575,000 | Konka Group Co Ltd | 156 | ||||||||
| 29,362 | Kontoor Brands, Inc | 980 | ||||||||
| 101,215 | KPR Mill Ltd | 662 | ||||||||
| 10,156 | * | Landsea Homes Corp | 68 | |||||||
| 7,681 | *,e | Latham Group, Inc | 53 | |||||||
| 36,653 | La-Z-Boy, Inc | 869 | ||||||||
| 6,898 | * | Legacy Housing Corp | 90 | |||||||
| 118,763 | Leggett & Platt, Inc | 4,107 | ||||||||
| 228,627 | Lennar Corp (Class A) | 16,134 | ||||||||
| 13,828 | Lennar Corp (Class B) | 812 | ||||||||
| 187,901 | Levi Strauss & Co | 3,067 | ||||||||
| 20,025 | LF Corp | 240 | ||||||||
| 171,709 | LG Electronics, Inc | 11,710 | ||||||||
| 16,052 | * | LGI Homes, Inc | 1,395 | |||||||
| 2,614,121 | Li Ning Co Ltd | 24,340 | ||||||||
| 11,515 | Lifetime Brands, Inc | 127 | ||||||||
| 24,292 | * | Lock & Lock Co Ltd | 143 | |||||||
| 2,678 | * | Lovesac Co | 74 | |||||||
| 1,217 | LPP S.A. | 2,459 | ||||||||
| 182,392 | * | Lululemon Athletica, Inc | 49,722 | |||||||
| 9,119 | LUX Industries Ltd | 203 | ||||||||
| 303,616 | LVMH Moet Hennessy Louis Vuitton S.A. | 186,079 | ||||||||
| 20,305 | * | M/I Homes, Inc | 805 | |||||||
| 261,000 | Makalot Industrial Co Ltd | 1,240 | ||||||||
| 3,230 | * | Malibu Boats, Inc | 170 | |||||||
| 2,103,784 | Man Wah Holdings Ltd | 2,272 | ||||||||
| 6,442 | *,† | Mariella Burani S.p.A. | 0 | ^ | ||||||
| 30,036 | Marimekko Oyj | 390 | ||||||||
| 1,632 | Marine Products Corp | 16 | ||||||||
| 3,330 | * | MasterCraft Boat Holdings, Inc | 70 | |||||||
| 1,406,840 | * | Mattel, Inc | 31,415 | |||||||
| 94,230 | g | Mavi Giyim Sanayi Ve Ticaret AS. | 296 | |||||||
| 56,236 | Maytronics Ltd | 797 | ||||||||
| 37,402 | MDC Holdings, Inc | 1,208 | ||||||||
| 250,000 | Merida Industry Co Ltd | 2,148 | ||||||||
| 28,743 | * | Meritage Homes Corp | 2,084 | |||||||
| 86,700 | Midea Group Co Ltd | 785 | ||||||||
| 133,668 | e | MIPS AB | 5,870 | |||||||
| 50,700 | Mizuno Corp | 875 | ||||||||
| 50,164 | * | Mohawk Industries, Inc | 6,225 | |||||||
| 1,138,493 | Moncler S.p.A | 49,053 | ||||||||
| 45 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 13,746 | e | Movado Group, Inc | $ | 425 | ||||||
| 375,200 | MRV Engenharia e Participacoes S.A. | 560 | ||||||||
| 8,500 | e | Nagawa Co Ltd | 504 | |||||||
| 33,044 | e,g | Neinor Homes S.A. | 415 | |||||||
| 48,891 | New Wave Group AB (B Shares) | 654 | ||||||||
| 464,905 | Newell Brands Inc | 8,852 | ||||||||
| 173,448 | Nien Made Enterprise Co Ltd | 1,712 | ||||||||
| 2,048,799 | Nike, Inc (Class B) | 209,387 | ||||||||
| 1,230,100 | Nikon Corp | 14,185 | ||||||||
| 154,082 | e | Nobia AB | 415 | |||||||
| 13,761 | * | NVR, Inc | 55,101 | |||||||
| 12,604 | *,e | On Holding AG. | 223 | |||||||
| 54,700 | Open House Co Ltd | 2,177 | ||||||||
| 20,732 | * | Oppein Home Group, Inc | 467 | |||||||
| 126,391 | Orient Electric Ltd | 437 | ||||||||
| 261,570 | e,g | OVS S.p.A | 428 | |||||||
| 15,304 | Oxford Industries, Inc | 1,358 | ||||||||
| 1,060,778 | Pacific Textile Holdings Ltd | 424 | ||||||||
| 6,670 | Page Industries Ltd | 3,400 | ||||||||
| 1,599,968 | Panasonic Corp | 12,918 | ||||||||
| 41,360 | Pandora AS | 2,628 | ||||||||
| 402,000 | *,† | Peace Mark Holdings Ltd | 0 | ^ | ||||||
| 300,558 | * | Peloton Interactive, Inc | 2,759 | |||||||
| 44,661 | Persimmon plc | 1,016 | ||||||||
| 20,656 | *,† | PIK Group (GDR) | 0 | ^ | ||||||
| 26,099 | *,e | PLBY Group, Inc | 167 | |||||||
| 54,662 | e | Polaris Inc | 5,427 | |||||||
| 2,654,006 | Pou Chen Corp | 2,636 | ||||||||
| 5,590,740 | Prada S.p.A | 31,441 | ||||||||
| 27,985 | Pressance Corp | 311 | ||||||||
| 233,670 | Pulte Homes, Inc | 9,260 | ||||||||
| 65,221 | Puma AG. Rudolf Dassler Sport | 4,327 | ||||||||
| 54,174 | *,e | Purple Innovation, Inc | 166 | |||||||
| 18,749 | PVH Corp | 1,067 | ||||||||
| 579,000 | Q Technology Group Co Ltd | 400 | ||||||||
| 79,000 | Quang Viet Enterprise Co Ltd | 289 | ||||||||
| 117,766 | Rajesh Exports Ltd | 935 | ||||||||
| 4,654 | Ralph Lauren Corp | 417 | ||||||||
| 38,768 | Raymond Ltd | 432 | ||||||||
| 563,392 | Redrow plc | 3,364 | ||||||||
| 60,938 | Relaxo Footwears Ltd | 745 | ||||||||
| 60,700 | Rinnai Corp | 4,181 | ||||||||
| 5,926 | Rocky Brands, Inc | 203 | ||||||||
| 16,100 | e | Roland Corp | 478 | |||||||
| 526,000 | Ruentex Industries Ltd | 1,373 | ||||||||
| 260,572 | *,e | Safilo Group S.p.A. | 338 | |||||||
| 61,492 | e | Salvatore Ferragamo Italia S.p.A | 950 | |||||||
| 46,624 | Sangetsu Co Ltd | 536 | ||||||||
| 154,900 | Sankyo Co Ltd | 4,686 | ||||||||
| 14,574 | Sanlorenzo S.p.A | 490 | ||||||||
| 26,043 | SEB S.A. | 2,513 | ||||||||
| 284,100 | Sega Sammy Holdings, Inc | 4,563 | ||||||||
| 46 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 31,000 | Seiko Holdings Corp | $ | 662 | |||||||
| 51,293 | Seiren Co Ltd | 765 | ||||||||
| 237,962 | Sekisui Chemical Co Ltd | 3,262 | ||||||||
| 445,845 | Sekisui House Ltd | 7,827 | ||||||||
| 161,493 | Sharp Corp | 1,249 | ||||||||
| 15,318 | * | Sheela Foam Ltd | 516 | |||||||
| 933,338 | Shenzhou International Group Holdings Ltd | 11,392 | ||||||||
| 82,645 | Shimano, Inc | 13,922 | ||||||||
| 12,764 | * | Skechers U.S.A., Inc (Class A) | 454 | |||||||
| 194,709 | * | Skyline Champion Corp | 9,233 | |||||||
| 1,816,000 | Skyworth Digital Holdings Ltd | 901 | ||||||||
| 126,364 | Smith & Wesson Brands, Inc | 1,659 | ||||||||
| 16,668 | *,e | Snap One Holdings Corp | 153 | |||||||
| 31,800 | e | Snow Peak, Inc | 634 | |||||||
| 135,018 | *,e | Solo Brands, Inc | 548 | |||||||
| 212,129 | * | Sonos, Inc | 3,827 | |||||||
| 3,323,417 | Sony Corp | 271,047 | ||||||||
| 700 | Sony Corp (ADR) | 57 | ||||||||
| 504,345 | *,g | Spin Master Corp | 16,460 | |||||||
| 19,478 | *,e | Spinnova Oyj | 138 | |||||||
| 757,000 | Stella International Holdings Ltd | 724 | ||||||||
| 664,018 | Steven Madden Ltd | 21,388 | ||||||||
| 3,572 | Sturm Ruger & Co, Inc | 227 | ||||||||
| 167,597 | Sumitomo Forestry Co Ltd | 2,384 | ||||||||
| 9,654 | Superior Uniform Group, Inc | 171 | ||||||||
| 11,868 | * | Swatch Group AG. | 2,819 | |||||||
| 7,699 | Swatch Group AG. (Registered) | 344 | ||||||||
| 14,878 | Symphony Ltd | 166 | ||||||||
| 1,312,000 | Tainan Spinning Co Ltd | 849 | ||||||||
| 295,000 | Taiwan Paiho Ltd | 683 | ||||||||
| 17,900 | e | Tama Home Co Ltd | 324 | |||||||
| 56,500 | Tamron Co Ltd | 1,047 | ||||||||
| 190,064 | Tapestry, Inc | 5,801 | ||||||||
| 131,711 | * | Taylor Morrison Home Corp | 3,077 | |||||||
| 3,808,893 | Taylor Wimpey plc | 5,426 | ||||||||
| 1,107,000 | * | TCL Multimedia Technology Holdings Ltd | 524 | |||||||
| 595,445 | TCL Technology Group Corp | 427 | ||||||||
| 162,398 | g | Technogym S.p.A | 1,062 | |||||||
| 160,882 | Tempur Sealy International, Inc | 3,438 | ||||||||
| 319,500 | Texhong Textile Group Ltd | 338 | ||||||||
| 121,882 | e,g | Thule Group AB | 3,015 | |||||||
| 401,448 | Titan Industries Ltd | 9,895 | ||||||||
| 12,082 | * | Tod’s S.p.A. | 377 | |||||||
| 7,390 | Token Corp | 421 | ||||||||
| 105,961 | Toll Brothers, Inc | 4,726 | ||||||||
| 91,601 | Tomy Co Ltd | 921 | ||||||||
| 45,816 | * | Tonies SE | 210 | |||||||
| 31,678 | * | TopBuild Corp | 5,295 | |||||||
| 64,000 | Topkey Corp | 277 | ||||||||
| 546,966 | *,e | Traeger, Inc | 2,325 | |||||||
| 82,206 | * | TRI Pointe Homes, Inc | 1,387 | |||||||
| 2,572,706 | Trident Ltd | 1,267 | ||||||||
| 47 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 44,648 | TTK Prestige Ltd | $ | 471 | |||||||
| 39,266 | *,e | Tupperware Brands Corp | 249 | |||||||
| 293,109 | * | Under Armour, Inc (Class A) | 2,442 | |||||||
| 1,369,508 | * | Under Armour, Inc (Class C) | 10,381 | |||||||
| 13,278 | * | Unifi, Inc | 187 | |||||||
| 10,841 | * | Universal Electronics, Inc | 277 | |||||||
| 27,843 | * | Universal Entertainment Corp | 298 | |||||||
| 57,924 | Vaibhav Global Ltd | 221 | ||||||||
| 6,530 | VAN DE Velde | 237 | ||||||||
| 137,381 | Vardhman Textiles Ltd | 462 | ||||||||
| 359,704 | Vestel Beyaz Esya Sanayi ve Ticaret AS | 195 | ||||||||
| 111,640 | Vestel Elektronik Sanayi | 158 | ||||||||
| 287,000 | Vesync Co Ltd | 175 | ||||||||
| 237,834 | VF Corp | 10,505 | ||||||||
| 76,617 | *,e | Victoria plc | 421 | |||||||
| 79,043 | *,e | Vinco Ventures, Inc | 109 | |||||||
| 76,036 | VIP Industries Ltd | 604 | ||||||||
| 65,183 | * | Vista Outdoor, Inc | 1,819 | |||||||
| 4,568,000 | Viva China Holdings Ltd | 730 | ||||||||
| 273,900 | Vivara Participacoes S.A. | 1,150 | ||||||||
| 12,427 | *,e | Vizio Holding Corp | 85 | |||||||
| 15,817 | *,e | Vuzix Corp | 112 | |||||||
| 4,537 | * | V-ZUG Holding AG. | 423 | |||||||
| 136,313 | Wacoal Holdings Corp | 2,157 | ||||||||
| 25,215 | e | Weber, Inc | 182 | |||||||
| 506,559 | Welspun India Ltd | 447 | ||||||||
| 284,612 | Whirlpool Corp | 44,078 | ||||||||
| 37,698 | Whirlpool of India Ltd | 747 | ||||||||
| 14,631 | Wolverine World Wide, Inc | 295 | ||||||||
| 49,766 | Xiamen Intretech, Inc | 160 | ||||||||
| 1,567,500 | e | XTEP International Holdings | 2,840 | |||||||
| 92,704 | Yamaha Corp | 3,822 | ||||||||
| 345,615 | * | YETI Holdings, Inc | 14,955 | |||||||
| 147,200 | Yonex Co Ltd | 1,241 | ||||||||
| 26,859 | Youngone Corp | 797 | ||||||||
| 7,434 | Youngone Holdings Co Ltd | 269 | ||||||||
| 917,000 | Yue Yuen Industrial Holdings | 1,194 | ||||||||
| 123,612 | Zhejiang Semir Garment Co Ltd | 110 | ||||||||
| 14,213 | Zhejiang Supor Co Ltd | 120 | ||||||||
| 11,613 | Zinus, Inc | 437 | ||||||||
| 36,700 | e | Zojirushi Corp | 375 | |||||||
| TOTAL CONSUMER DURABLES & APPAREL | 2,004,962 | |||||||||
| CONSUMER SERVICES - 2.4% | ||||||||||
| 83,206 | * | 2U, Inc | 871 | |||||||
| 441,558 | 888 Holdings plc | 901 | ||||||||
| 215,932 | g | AcadeMedia AB | 962 | |||||||
| 303,598 | * | Accel Entertainment, Inc | 3,224 | |||||||
| 281,935 | * | Accor S.A. | 7,692 | |||||||
| 136,251 | e | ADT, Inc | 838 | |||||||
| 37,348 | * | Adtalem Global Education, Inc | 1,343 | |||||||
| 172,532 | * | Airbnb, Inc | 15,369 | |||||||
| 48 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 214,800 | *,e | Airtrip Corp | $ | 4,049 | ||||||
| 650,600 | *,e | Alsea SAB de C.V. | 1,232 | |||||||
| 16,230 | * | American Public Education, Inc | 262 | |||||||
| 91,035 | * | AmRest Holdings SE | 368 | |||||||
| 458,200 | * | Anima Holding S.A. | 341 | |||||||
| 203,192 | ARAMARK Holdings Corp | 6,224 | ||||||||
| 20,760 | e | ARCLAND SERVICE Co Ltd | 322 | |||||||
| 7,989,677 | a,e | Arcos Dorados Holdings, Inc | 53,850 | |||||||
| 653,464 | Aristocrat Leisure Ltd | 15,543 | ||||||||
| 5,747,068 | Asset World Corp PCL | 795 | ||||||||
| 20,164 | Ataa Educational Co | 330 | ||||||||
| 125,800 | *,e | Atom Corp | 725 | |||||||
| 224,561 | * | Autogrill S.p.A. | 1,494 | |||||||
| 32,793 | *,e | Bally’s Corp | 649 | |||||||
| 61,129 | *,g | Basic-Fit NV | 2,304 | |||||||
| 73,395 | * | Beachbody Co, Inc | 88 | |||||||
| 82,400 | Benesse Holdings, Inc | 1,333 | ||||||||
| 896,700 | Berjaya Sports Toto BHD | 372 | ||||||||
| 767,350 | *,e | Betmakers Technology Group Ltd | 181 | |||||||
| 133,223 | Betsson AB | 806 | ||||||||
| 743 | * | Biglari Holdings, Inc (B Shares) | 91 | |||||||
| 18,378 | * | BJ’s Restaurants, Inc | 398 | |||||||
| 4,276,700 | * | Bloomberry Resorts Corp | 452 | |||||||
| 475,789 | Bloomin’ Brands, Inc | 7,908 | ||||||||
| 28,780 | Bluegreen Vacations Holding Corp | 718 | ||||||||
| 181,376 | * | Booking Holdings, Inc | 317,225 | |||||||
| 31,256 | *,e | Bowlero Corp | 331 | |||||||
| 156,476 | Boyd Gaming Corp | 7,785 | ||||||||
| 82,461 | * | Bright Horizons Family Solutions | 6,970 | |||||||
| 10,987 | * | Brinker International, Inc | 242 | |||||||
| 47,700 | BTG Hotels Group Co Ltd | 177 | ||||||||
| 236,192 | * | Burger King India Ltd | 333 | |||||||
| 320,962 | * | Caesars Entertainment, Inc | 12,293 | |||||||
| 464,000 | Cafe de Coral Holdings Ltd | 747 | ||||||||
| 329,435 | Cairo Investment & Real Estate Development Co SAE | 197 | ||||||||
| 791,334 | *,e | Carnival Corp | 6,845 | |||||||
| 177,958 | * | Carnival plc | 1,372 | |||||||
| 2,864 | Carriage Services, Inc | 114 | ||||||||
| 90,695 | *,e | Cary Group AB | 562 | |||||||
| 540,400 | * | Central Plaza Hotel PCL | 675 | |||||||
| 6,137 | * | Century Casinos, Inc | 44 | |||||||
| 65,027 | * | Chalet Hotels Ltd | 260 | |||||||
| 75,983 | Cheesecake Factory | 2,007 | ||||||||
| 21,790 | * | Chegg, Inc | 409 | |||||||
| 653,000 | e,g | China East Education Holdings Ltd | 347 | |||||||
| 1,101,000 | China Education Group Holdings Ltd | 1,090 | ||||||||
| 2,128,000 | *,† | China Maple Leaf Educational Systems Ltd | 48 | |||||||
| 1,092,000 | g | China New Higher Education Group Ltd | 375 | |||||||
| 2,728,000 | * | China Travel International Inv HK | 571 | |||||||
| 2,202,000 | g | China Yuhua Education Corp Ltd | 390 | |||||||
| 49,310 | * | Chipotle Mexican Grill, Inc (Class A) | 64,461 | |||||||
| 55,317 | Choice Hotels International, Inc | 6,175 | ||||||||
| 49 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 91,534 | Churchill Downs, Inc | $ | 17,532 | |||||||
| 15,587 | * | Chuy’s Holdings, Inc | 310 | |||||||
| 26,603 | Cie des Alpes | 401 | ||||||||
| 2,295,000 | * | Cogna Educacao | 938 | |||||||
| 128,299 | Collins Foods Ltd | 879 | ||||||||
| 86,400 | e | Colowide Co Ltd | 1,172 | |||||||
| 2,160,269 | Compass Group plc | 44,353 | ||||||||
| 140,222 | * | Corporate Travel Management Ltd | 1,801 | |||||||
| 73,205 | * | Coursera, Inc | 1,038 | |||||||
| 8,686 | Cracker Barrel Old Country Store, Inc | 725 | ||||||||
| 135,000 | Create Restaurants Holdings, Inc | 931 | ||||||||
| 226,900 | Cruzeiro do Sul Educacional S.A. | 126 | ||||||||
| 66,900 | Curves Holdings Co Ltd | 327 | ||||||||
| 271,800 | * | CVC Brasil Operadora e Agencia de Viagens S.A. | 363 | |||||||
| 195,429 | Dadi Early-Childhood Education Group Ltd | 755 | ||||||||
| 241,027 | * | Dalata Hotel Group plc | 878 | |||||||
| 410,076 | Darden Restaurants, Inc | 46,388 | ||||||||
| 37,265 | * | Dave & Buster’s Entertainment, Inc | 1,222 | |||||||
| 91,369 | Delta Corp Ltd | 194 | ||||||||
| 159,741 | *,e | Denny’s Corp | 1,387 | |||||||
| 295,697 | * | Devyani International Ltd | 585 | |||||||
| 4,121 | Dine Brands Global Inc. | 268 | ||||||||
| 62,794 | Domino’s Pizza Enterprises Ltd | 2,952 | ||||||||
| 470,086 | Domino’s Pizza Group plc | 1,598 | ||||||||
| 35,056 | Domino’s Pizza, Inc | 13,662 | ||||||||
| 9,983 | DoubleUGames Co Ltd | 296 | ||||||||
| 33,018 | Doutor Nichires Holdings Co Ltd | 375 | ||||||||
| 310,196 | *,e | DraftKings, Inc | 3,620 | |||||||
| 23,526 | *,e | Duolingo, Inc | 2,060 | |||||||
| 53,780 | * | Dur Hospitality Co | 317 | |||||||
| 49,770 | Easy Trip Planners Ltd | 248 | ||||||||
| 538,000 | EC Healthcare | 543 | ||||||||
| 71,078 | * | eDreams ODIGEO S.A. | 387 | |||||||
| 157,036 | * | EIH Ltd | 249 | |||||||
| 17,018 | * | El Pollo Loco Holdings, Inc | 167 | |||||||
| 142,393 | *,g | Elior Participations S.C.A | 319 | |||||||
| 66,798 | * | Emerson Pacific, Inc | 342 | |||||||
| 614,125 | * | Entain PLC | 9,346 | |||||||
| 4,671 | e | European Wax Center, Inc | 82 | |||||||
| 876,929 | * | Everi Holdings, Inc | 14,303 | |||||||
| 267,843 | g | Evolution Gaming Group AB | 24,503 | |||||||
| 166,670 | * | Expedia Group, Inc | 15,805 | |||||||
| 8,086 | *,e | F45 Training Holdings, Inc | 32 | |||||||
| 16,836 | * | Fattal Holdings 1998 Ltd | 1,762 | |||||||
| 38,980 | *,e | First Watch Restaurant Group, Inc | 562 | |||||||
| 185,497 | *,e | Flight Centre Travel Group Ltd | 2,231 | |||||||
| 198,578 | * | Flutter Entertainment plc | 20,061 | |||||||
| 174,670 | * | Flutter Entertainment plc | 17,708 | |||||||
| 72,000 | Formosa International Hotels Corp | 403 | ||||||||
| 290,000 | *,e,g | Fosun Tourism Group | 494 | |||||||
| 149,547 | * | frontdoor, Inc | 3,601 | |||||||
| 2,243,000 | Fu Shou Yuan International Group Ltd | 1,616 | ||||||||
| 50 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 26,999 | Fuji Kyuko Co Ltd | $ | 837 | |||||||
| 19,400 | *,e | Fujio Food System Co Ltd | 188 | |||||||
| 21,572 | *,e | Full House Resorts, Inc | 131 | |||||||
| 943,826 | G8 Education Ltd | 689 | ||||||||
| 2,306,622 | Galaxy Entertainment Group Ltd | 13,818 | ||||||||
| 2,498,497 | Genting BHD | 2,576 | ||||||||
| 3,412,281 | Genting Malaysia BHD | 2,202 | ||||||||
| 6,185,070 | Genting Singapore Ltd | 3,208 | ||||||||
| 3,261 | * | Golden Entertainment, Inc | 129 | |||||||
| 111,000 | Gourmet Master Co Ltd | 413 | ||||||||
| 3,078 | Graham Holdings Co | 1,745 | ||||||||
| 34,457 | * | Grand Canyon Education, Inc | 3,246 | |||||||
| 31,086 | * | Grand Korea Leisure Co Ltd | 312 | |||||||
| 222,733 | Greggs plc | 4,932 | ||||||||
| 159,100 | *,e | GSX Techedu, Inc (ADR) | 312 | |||||||
| 205,479 | *,g | Gym Group plc | 476 | |||||||
| 236,145 | H&R Block, Inc | 8,341 | ||||||||
| 1,610,000 | *,e,g | Haichang Holdings Ltd | 1,636 | |||||||
| 775,776 | e,g | Haidilao International Holding Ltd | 1,816 | |||||||
| 12,544 | * | Hana Tour Service, Inc | 525 | |||||||
| 61,189 | Heiwa Corp | 909 | ||||||||
| 293,000 | *,e | Helens International Holdings Co ltd | 677 | |||||||
| 26,940 | Herfy Food Services Co | 306 | ||||||||
| 26,337 | Hiday Hidaka Corp | 401 | ||||||||
| 189,211 | * | Hilton Grand Vacations, Inc | 6,761 | |||||||
| 826,729 | Hilton Worldwide Holdings, Inc | 92,131 | ||||||||
| 59,428 | * | HIS Co Ltd | 893 | |||||||
| 3,966,000 | e,g | Hope Education Group Co Ltd | 329 | |||||||
| 299,800 | Huangshan Tourism Development Co Ltd | 238 | ||||||||
| 318,955 | Huazhu Group Ltd (ADR) | 12,152 | ||||||||
| 108,096 | Humansoft Holding Co KSC | 1,091 | ||||||||
| 43,717 | * | Hyatt Hotels Corp | 3,231 | |||||||
| 17,700 | Ichibanya Co Ltd | 615 | ||||||||
| 1,546,600 | IDP Education Ltd | 25,326 | ||||||||
| 844,609 | Indian Hotels Co Ltd | 2,418 | ||||||||
| 8,340 | *,e | Inspirato, Inc | 39 | |||||||
| 29,750 | * | Inspired Entertainment, Inc | 256 | |||||||
| 218,635 | InterContinental Hotels Group plc | 11,620 | ||||||||
| 287,879 | e | International Game Technology plc | 5,343 | |||||||
| 159,030 | e | Invocare Ltd | 1,148 | |||||||
| 15,299 | Jack in the Box, Inc | 858 | ||||||||
| 844,000 | JH Educational Technology, Inc | 429 | ||||||||
| 856,000 | e,g | Jiumaojiu International Holdings Ltd | 2,280 | |||||||
| 490,643 | Jollibee Foods Corp | 1,818 | ||||||||
| 422,679 | Jubilant Foodworks Ltd | 2,756 | ||||||||
| 442,434 | Jumbo Interactive Ltd | 4,352 | ||||||||
| 100,677 | *,e | Kambi Group plc | 1,650 | |||||||
| 106,473 | * | Kangwon Land, Inc | 2,091 | |||||||
| 24,270 | *,e | Kappa Create Co Ltd | 257 | |||||||
| 16,100 | Kentucky Fried Chicken Japan Ltd | 337 | ||||||||
| 311,181 | Kindred Group plc | 2,590 | ||||||||
| 51 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 22,300 | e | Kisoji Co Ltd | $ | 359 | ||||||
| 57,900 | KOMEDA Holdings Co Ltd | 982 | ||||||||
| 411,000 | *,e,g | Koolearn Technology Holding Ltd | 992 | |||||||
| 48,494 | Koshidaka Holdings Co Ltd | 272 | ||||||||
| 229,798 | e | Krispy Kreme, Inc | 3,125 | |||||||
| 25,704 | e | Kura Corp | 600 | |||||||
| 1,120 | *,e | Kura Sushi USA, Inc | 55 | |||||||
| 33,683 | Kyoritsu Maintenance Co Ltd | 1,257 | ||||||||
| 181,494 | g | La Francaise des Jeux SAEM | 6,302 | |||||||
| 2,940,688 | * | Las Vegas Sands Corp | 98,778 | |||||||
| 381,359 | Laureate Education, Inc | 4,412 | ||||||||
| 29,002 | Leejam Sports Co JSC | 694 | ||||||||
| 499,437 | *,g | Lemon Tree Hotels Ltd | 389 | |||||||
| 89,305 | g | LeoVegas AB | 529 | |||||||
| 36,138 | *,e | Life Time Group Holdings, Inc | 465 | |||||||
| 25,638 | *,e | Lindblad Expeditions Holdings, Inc | 208 | |||||||
| 23,700 | LITALICO, Inc | 374 | ||||||||
| 42,260 | * | Lotte Tour Development Co Ltd | 400 | |||||||
| 4,049,828 | * | Lottery Corp Ltd | 12,635 | |||||||
| 355,000 | Lung Yen Life Service Corp | 510 | ||||||||
| 837,100 | Magnum BHD | 318 | ||||||||
| 68,987 | * | Mahindra Holidays & Resorts India Ltd | 188 | |||||||
| 440,070 | Marriott International, Inc (Class A) | 59,854 | ||||||||
| 36,657 | Marriott Vacations Worldwide Corp | 4,260 | ||||||||
| 804,371 | * | Marston’s plc | 504 | |||||||
| 8,300 | e | Matsuya Foods Co Ltd | 238 | |||||||
| 2,159,165 | McDonald’s Corp | 533,055 | ||||||||
| 119,799 | e | McDonald’s Holdings Co Japan Ltd | 4,364 | |||||||
| 8,790 | MegaStudyEdu Co Ltd | 532 | ||||||||
| 3,849,793 | * | Melco Crown Entertainment Ltd (ADR) | 22,136 | |||||||
| 811,817 | * | Melco International Development | 601 | |||||||
| 139,361 | * | Melia Hotels International S.A. | 890 | |||||||
| 1,182,800 | *,e | MGM China Holdings Ltd | 672 | |||||||
| 336,106 | MGM Resorts International | 9,730 | ||||||||
| 3,321,400 | * | Minor International PCL | 3,205 | |||||||
| 74,857 | *,e | Mister Car Wash, Inc | 814 | |||||||
| 315,221 | * | Mitchells & Butlers plc | 711 | |||||||
| 309,300 | MK Restaurants Group PCL | 458 | ||||||||
| 2,188 | * | Monarch Casino & Resort, Inc | 128 | |||||||
| 11,334 | Monogatari Corp | 492 | ||||||||
| 25,800 | MOS Food Services, Inc | 594 | ||||||||
| 24,522 | e | MTY Food Group, Inc | 976 | |||||||
| 22,412 | National Co for Learning & Education | 357 | ||||||||
| 398,500 | *,e | Nayuki Holdings Ltd | 338 | |||||||
| 2,850 | *,e | NEOGAMES S.A. | 38 | |||||||
| 8,347 | * | Nerdy, Inc | 18 | |||||||
| 168,296 | * | New Oriental Education & Technology Group, Inc (ADR) | 3,427 | |||||||
| 161,306 | * | Noodles & Co | 758 | |||||||
| 344,906 | *,e | Norwegian Cruise Line Holdings Ltd | 3,835 | |||||||
| 14,100 | Ohsho Food Service Corp | 727 | ||||||||
| 52 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 199,958 | *,g | On the Beach Group plc | $ | 348 | ||||||
| 17,710 | * | ONE Group Hospitality, Inc | 131 | |||||||
| 11,042 | * | OneSpaWorld Holdings Ltd | 79 | |||||||
| 220,981 | OPAP S.A. | 3,178 | ||||||||
| 13,584 | *,e | Open Door, Inc | 185 | |||||||
| 211,498 | Oriental Land Co Ltd | 29,536 | ||||||||
| 29,667 | Papa John’s International, Inc | 2,478 | ||||||||
| 48,314 | * | Paradise Co Ltd | 504 | |||||||
| 111,860 | e | Park Lawn Corp | 2,958 | |||||||
| 38,470 | *,† | Patisserie Holdings plc | 0 | ^ | ||||||
| 215,909 | * | Penn National Gaming, Inc | 6,568 | |||||||
| 58,699 | * | Perdoceo Education Corp | 691 | |||||||
| 448,000 | Perfect Shape Medical Ltd | 241 | ||||||||
| 80,965 | * | Planet Fitness, Inc | 5,506 | |||||||
| 268,529 | * | Playtech Ltd | 1,776 | |||||||
| 23,905 | Plenus Co Ltd | 352 | ||||||||
| 1,829,683 | *,e | PointsBet Holdings Ltd | 3,404 | |||||||
| 11,336 | e | Pollard Banknote Ltd | 178 | |||||||
| 4,334 | *,e | Portillo’s, Inc | 71 | |||||||
| 27,702 | *,e | PowerSchool Holdings, Inc | 334 | |||||||
| 238,441 | * | Rank Group plc | 248 | |||||||
| 1,564 | RCI Hospitality Holdings, Inc | 76 | ||||||||
| 24,989 | *,e | Recipe Unlimited Corp | 243 | |||||||
| 115,030 | Red Rock Resorts, Inc | 3,837 | ||||||||
| 97,700 | Resorttrust, Inc | 1,600 | ||||||||
| 350,063 | e | Restaurant Brands International, Inc (Toronto) | 17,560 | |||||||
| 929,663 | * | Restaurant Group plc | 507 | |||||||
| 28,900 | e | Ringer Hut Co Ltd | 497 | |||||||
| 120,000 | Riso Kyoiku Co Ltd | 282 | ||||||||
| 77,361 | Round One Corp | 870 | ||||||||
| 14,194 | *,e | Rover Group, Inc | 53 | |||||||
| 227,212 | * | Royal Caribbean Cruises Ltd | 7,932 | |||||||
| 31,700 | Royal Holdings Co Ltd | 559 | ||||||||
| 11,946 | * | Rush Street Interactive, Inc | 56 | |||||||
| 5,035 | Ruth’s Hospitality Group Inc | 82 | ||||||||
| 32,000 | Saizeriya Co Ltd | 635 | ||||||||
| 13,465,892 | * | Sands China Ltd | 32,395 | |||||||
| 25,450 | * | Sapphire Foods India Ltd | 351 | |||||||
| 181,316 | *,e,g | Scandic Hotels Group AB | 704 | |||||||
| 169,534 | * | Scientific Games Corp (Class A) | 7,966 | |||||||
| 57,294 | * | SeaWorld Entertainment, Inc | 2,531 | |||||||
| 179,817 | * | Seera Group Holding | 767 | |||||||
| 25,475 | Seobu Truck Terminal Co Ltd | 145 | ||||||||
| 143,822 | Service Corp International | 9,941 | ||||||||
| 6,031 | * | Shake Shack, Inc | 238 | |||||||
| 27,939 | * | Shanghai Jinjiang International Hotels Development Co Ltd | 263 | |||||||
| 1,228,000 | * | Shangri-La Asia Ltd | 996 | |||||||
| 360,472 | Shenzhen Overseas Chinese Town Co Ltd | 350 | ||||||||
| 68,868 | * | Six Flags Entertainment Corp | 1,494 | |||||||
| 3,417,000 | *,e | SJM Holdings Ltd | 1,553 | |||||||
| 47,750 | SkiStar AB | 648 | ||||||||
| 909,196 | Sky City Entertainment Group Ltd | 1,652 | ||||||||
| 53 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 261,982 | e | Skylark Co Ltd | $ | 3,072 | ||||||
| 282,700 | * | Smartfit Escola de Ginastica e Danca S.A. | 545 | |||||||
| 91,852 | Sodexho Alliance S.A. | 6,497 | ||||||||
| 6,806 | * | Sonder Holdings, Inc | 7 | |||||||
| 91,914 | Songcheng Performance Development Co Ltd | 211 | ||||||||
| 1,827,212 | * | SSP Group plc | 5,187 | |||||||
| 1,049,528 | * | Star Entertainment Grp Ltd | 2,026 | |||||||
| 1,814,374 | Starbucks Corp | 138,600 | ||||||||
| 24,784 | * | StoneMor, Inc | 85 | |||||||
| 18,751 | Strategic Education, Inc | 1,323 | ||||||||
| 145,250 | * | Stride, Inc | 5,925 | |||||||
| 128,693 | Sushiro Global Holdings Ltd | 2,761 | ||||||||
| 79,973 | * | Sweetgreen, Inc | 932 | |||||||
| 3,521,785 | Tabcorp Holdings Ltd | 2,600 | ||||||||
| 481,668 | * | TAL Education Group (ADR) | 2,346 | |||||||
| 197,908 | * | Target Hospitality Corp | 1,130 | |||||||
| 111,132 | * | Terminix Global Holdings, Inc | 4,518 | |||||||
| 352,791 | Texas Roadhouse, Inc (Class A) | 25,824 | ||||||||
| 1,189,000 | e | Tianli Education International Holdings Ltd | 163 | |||||||
| 101,285 | e | Tokyotokeiba Co Ltd | 2,935 | |||||||
| 907,620 | * | Tongcheng-Elong Holdings Ltd | 1,962 | |||||||
| 52,359 | e | Toridoll.corp | 893 | |||||||
| 16,884 | Tosho Co Ltd | 155 | ||||||||
| 560,791 | *,g | Trainline plc | 1,966 | |||||||
| 604,070 | Travel & Leisure Co | 23,450 | ||||||||
| 629,837 | * | Trip.com Group Ltd (ADR) | 17,289 | |||||||
| 1,233,426 | TUI AG. (DI) | 2,003 | ||||||||
| 12,384 | *,e | Udemy, Inc | 126 | |||||||
| 4,969 | * | Universal Technical Institute, Inc | 35 | |||||||
| 33,254 | *,e | Vacasa, Inc | 96 | |||||||
| 58,344 | Vail Resorts, Inc | 12,722 | ||||||||
| 64,643 | *,e | Vivint Smart Home, Inc | 225 | |||||||
| 450,336 | *,e | Webjet Ltd | 1,667 | |||||||
| 274,829 | Wendy’s | 5,189 | ||||||||
| 79,908 | * | Westlife Development Ltd | 505 | |||||||
| 116,143 | * | Wetherspoon (J.D.) plc | 883 | |||||||
| 211,338 | Whitbread plc | 6,409 | ||||||||
| 5,145 | Wingstop, Inc | 385 | ||||||||
| 47,479 | * | WW International Inc | 303 | |||||||
| 407,471 | Wyndham Hotels & Resorts, Inc | 26,779 | ||||||||
| 36,681,400 | *,e | Wynn Macau Ltd | 24,994 | |||||||
| 485,444 | * | Wynn Resorts Ltd | 27,661 | |||||||
| 562,500 | g | Xiabuxiabu Catering Management China Holdings Co Ltd | 308 | |||||||
| 10,970 | * | Xponential Fitness, Inc | 138 | |||||||
| 334,600 | YDUQS Part | 836 | ||||||||
| 73,819 | e | Yoshinoya D&C Co Ltd | 1,361 | |||||||
| 45,000 | *,e | Youdao, Inc (ADR) | 221 | |||||||
| 26,910 | Young & Co’s Brewery plc | 372 | ||||||||
| 959,134 | Yum China Holdings, Inc | 46,518 | ||||||||
| 783,762 | Yum! Brands, Inc | 88,965 | ||||||||
| 17,113 | * | Zeal Network SE | 674 | |||||||
| 107,822 | Zensho Co Ltd | 2,589 | ||||||||
| TOTAL CONSUMER SERVICES | 2,506,602 | |||||||||
| 54 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| DIVERSIFIED FINANCIALS - 4.4% | ||||||||||
| 108,900 | 360 Finance, Inc (ADR) | $ | 1,884 | |||||||
| 147,664 | 3i Group plc | 2,001 | ||||||||
| 44,980 | ABC Arbitrage | 331 | ||||||||
| 25,800 | Acom Co Ltd | 60 | ||||||||
| 579,829 | * | Aditya Birla Capital Ltd | 660 | |||||||
| 126,900 | Aeon Credit Service M BHD | 400 | ||||||||
| 128,500 | AEON Financial Service Co Ltd | 1,213 | ||||||||
| 83,900 | Aeon Thana Sinsap Thailand PCL | 410 | ||||||||
| 49,101 | e | AFC Gamma, Inc | 753 | |||||||
| 36,715 | Affiliated Managers Group, Inc | 4,281 | ||||||||
| 460,987 | AGNC Investment Corp | 5,103 | ||||||||
| 373,700 | Aiful Corp | 965 | ||||||||
| 684,859 | AJ Bell plc | 2,234 | ||||||||
| 1,048,192 | Al Waha Capital PJSC | 452 | ||||||||
| 13,254 | Alerus Financial Corp | 316 | ||||||||
| 771,383 | Alimtiaz Investment Group KSC | 233 | ||||||||
| 605,927 | Allfunds Group PLC | 4,657 | ||||||||
| 295,520 | Ally Financial, Inc | 9,903 | ||||||||
| 35,533 | Alpha FX Group plc | 675 | ||||||||
| 75,759 | Altshuler Shaham Financial Ltd | 201 | ||||||||
| 1,136,296 | Amanat Holdings PJSC | 310 | ||||||||
| 100,899 | A-Mark Precious Metals, Inc | 3,254 | ||||||||
| 1,715,435 | American Express Co | 237,794 | ||||||||
| 262,833 | Ameriprise Financial, Inc | 62,470 | ||||||||
| 3,830,961 | * | AMP Ltd | 2,530 | |||||||
| 13,681 | g | Amundi S.A. | 753 | |||||||
| 10,885 | e | Angel Oak Mortgage, Inc | 141 | |||||||
| 29,415 | Angel One Ltd | 452 | ||||||||
| 277,810 | e,g | Anima Holding S.p.A | 1,022 | |||||||
| 751,437 | e | Annaly Capital Management, Inc | 4,441 | |||||||
| 40,093 | Antin Infrastructure Partners S.A. | 946 | ||||||||
| 114,365 | Apollo Commercial Real Estate Finance, Inc | 1,194 | ||||||||
| 406,301 | Apollo Global Management, Inc | 19,697 | ||||||||
| 391,935 | Arbor Realty Trust, Inc | 5,138 | ||||||||
| 38,342 | Ares Commercial Real Estate Corp | 469 | ||||||||
| 139,040 | Ares Management Corp | 7,906 | ||||||||
| 87,919 | e | ARMOUR Residential REIT, Inc | 619 | |||||||
| 23,611 | Artisan Partners Asset Management, Inc | 840 | ||||||||
| 547,086 | Ashmore Group plc | 1,480 | ||||||||
| 240,500 | Asia Sermkij Leasing PCL | 216 | ||||||||
| 39,600 | Asia Sermkij Leasing PCL | 36 | ||||||||
| 85,988 | * | Assetmark Financial Holdings, Inc | 1,614 | |||||||
| 2,303 | Associated Capital Group, Inc | 83 | ||||||||
| 1,830 | *,e | Atlanticus Holdings Corp | 64 | |||||||
| 31,424 | Aurelius AG. | 672 | ||||||||
| 94,822 | Australian Ethical Investment Ltd | 306 | ||||||||
| 171,925 | Australian Stock Exchange Ltd | 9,718 | ||||||||
| 144,694 | e | Avanza Bank Holding AB | 2,440 | |||||||
| 121,314 | Avic Capital Co Ltd | 63 | ||||||||
| 2,215 | *,† | Ayala Corp Preferred | 0 | ^ | ||||||
| 126,515 | Azimut Holding S.p.A. | 2,202 | ||||||||
| 55 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 4,227 | B. Riley Financial, Inc | $ | 179 | |||||||
| 5,906,229 | B3 SA-Brasil Bolsa Balcao | 12,369 | ||||||||
| 218,000 | *,e,g | Bairong, Inc | 273 | |||||||
| 300,437 | Bajaj Finance Ltd | 20,672 | ||||||||
| 27,029 | Bajaj Finserv Ltd | 3,762 | ||||||||
| 46,140 | *,e | Bakkt Holdings, Inc | 97 | |||||||
| 181,543 | g | Banca Farmafactoring S.p.A | 1,222 | |||||||
| 195,022 | e | Banca Generali S.p.A | 5,522 | |||||||
| 29,877 | Banca IFIS S.p.A. | 425 | ||||||||
| 358,516 | Banca Mediolanum S.p.A | 2,365 | ||||||||
| 2,525,804 | Banco BTG Pactual S.A. - Unit | 10,767 | ||||||||
| 23,402 | Banco Latinoamericano de Exportaciones S.A. (Class E) | 311 | ||||||||
| 1,107,552 | Bangkok Commercial Asset Management PCL | 546 | ||||||||
| 1,637,402 | Bank of New York Mellon Corp | 68,296 | ||||||||
| 2,178,167 | * | Berkshire Hathaway, Inc (Class B) | 594,683 | |||||||
| 1,154,800 | * | Beyond Securities PCL | 386 | |||||||
| 8,766,400 | BFI Finance Indonesia Tbk PT | 646 | ||||||||
| 744,583 | BGC Partners, Inc (Class A) | 2,509 | ||||||||
| 242,817 | BlackRock, Inc | 147,885 | ||||||||
| 291,476 | e | Blackstone Mortgage Trust, Inc | 8,065 | |||||||
| 798,473 | Blackstone, Inc | 72,845 | ||||||||
| 9,112 | * | Blucora, Inc | 168 | |||||||
| 70,417 | e | Blue Owl Capital, Inc | 706 | |||||||
| 165,400 | BOC International China Co Ltd | 330 | ||||||||
| 883,285 | e | Bolsa Mexicana de Valores S.A. de C.V. | 1,568 | |||||||
| 123,645 | Boursa Kuwait Securities Co KPSC | 964 | ||||||||
| 313,400 | Brewin Dolphin Holdings plc | 1,953 | ||||||||
| 1,467,459 | e | Bridgepoint Group Ltd | 4,316 | |||||||
| 232,538 | Brightsphere Investment Group, Inc | 4,188 | ||||||||
| 81,288 | BrightSpire Capital, Inc | 614 | ||||||||
| 110,754 | Broadmark Realty Capital, Inc | 743 | ||||||||
| 1,698,160 | Brookfield Asset Management, Inc | 75,541 | ||||||||
| 131,395 | BSE Ltd | 997 | ||||||||
| 116,633 | Bure Equity AB | 2,338 | ||||||||
| 215,190 | Burford Capital Ltd | 2,110 | ||||||||
| 932,900 | Bursa Malaysia BHD | 1,404 | ||||||||
| 238,552 | Caitong Securities Co Ltd | 281 | ||||||||
| 112,636 | Canaccord Financial, Inc | 738 | ||||||||
| 130,849 | * | Cannae Holdings, Inc | 2,531 | |||||||
| 203,313 | Capital One Financial Corp | 21,183 | ||||||||
| 1,939,000 | Capital Securities Corp | 913 | ||||||||
| 259,539 | Carlyle Group, Inc | 8,217 | ||||||||
| 154,826 | CBOE Global Markets, Inc | 17,525 | ||||||||
| 35,963 | Cembra Money Bank AG. | 2,578 | ||||||||
| 236,630 | Central Depository Services India Ltd | 3,357 | ||||||||
| 1,524,131 | Chailease Holding Co Ltd | 10,694 | ||||||||
| 670,047 | Challenger Financial Services Group Ltd | 3,172 | ||||||||
| 111,064 | Changjiang Securities Co Ltd | 99 | ||||||||
| 4,633,143 | Charles Schwab Corp | 292,722 | ||||||||
| 5,232 | e | Chicago Atlantic Real Estate Finance, Inc | 79 | |||||||
| 195,785 | e | Chimera Investment Corp | 1,727 | |||||||
| 1,483,000 | China Bills Finance Corp | 836 | ||||||||
| 56 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 7,817,574 | China Cinda Asset Management Co Ltd | $ | 1,227 | |||||||
| 1,132,000 | China Everbright Ltd | 1,067 | ||||||||
| 2,645,459 | China Galaxy Securities Co Ltd | 1,530 | ||||||||
| 261,850 | China Galaxy Securities Co Ltd (Class A) | 379 | ||||||||
| 76,200 | China Great Wall Securities Co Ltd | 116 | ||||||||
| 1,143,337 | g | China International Capital Corp Ltd | 2,441 | |||||||
| 45,600 | China International Capital Corp Ltd | 304 | ||||||||
| 303,836 | China Merchants Securities Co Ltd | 655 | ||||||||
| 209,700 | e,g | China Renaissance Holdings Ltd | 263 | |||||||
| 111,940 | Cholamandalam Financial Holdings Ltd | 841 | ||||||||
| 431,450 | Cholamandalam Investment and Finance Co Ltd | 3,399 | ||||||||
| 234,092 | CI Financial Corp | 2,486 | ||||||||
| 1,495,965 | CITIC Securities Co Ltd | 3,353 | ||||||||
| 525,816 | CITIC Securities Co Ltd (Class A) | 1,707 | ||||||||
| 76,574 | e | Claros Mortgage Trust, Inc | 1,283 | |||||||
| 155,464 | g | CMC Markets plc | 519 | |||||||
| 454,081 | CME Group, Inc | 92,950 | ||||||||
| 120,697 | Coface S.A. | 1,268 | ||||||||
| 50,092 | Cohen & Steers, Inc | 3,185 | ||||||||
| 12,384 | *,e | Coinbase Global, Inc | 582 | |||||||
| 50,467 | e | Compass Diversified Trust | 1,081 | |||||||
| 11,536 | * | Consumer Portfolio Services, Inc | 118 | |||||||
| 598,124 | Coronation Fund Managers Ltd | 1,203 | ||||||||
| 31,497 | Corp Financiera Alba | 1,717 | ||||||||
| 115,789 | * | Corp Financiera Colombiana S.A. | 572 | |||||||
| 42,737 | e | Cowen Group, Inc | 1,012 | |||||||
| 64,505 | Creades AB | 489 | ||||||||
| 7,152 | *,e | Credit Acceptance Corp | 3,386 | |||||||
| 76,656 | Credit Corp Group Ltd | 1,074 | ||||||||
| 176,900 | Credit Saison Co Ltd | 2,030 | ||||||||
| 620,292 | Credit Suisse Group | 3,541 | ||||||||
| 55,433 | * | CreditAccess Grameen Ltd | 716 | |||||||
| 15,512 | CRISIL Ltd | 647 | ||||||||
| 7,904 | * | Cryptyde, Inc | 16 | |||||||
| 215,625 | CSC Financial Co Ltd | 934 | ||||||||
| 1,496,000 | CSSC Hong Kong Shipping Co Ltd | 269 | ||||||||
| 5,282 | Curo Group Holdings Corp | 29 | ||||||||
| 99,298 | Daishin Securities Co Ltd | 1,158 | ||||||||
| 24,204 | Daishin Securities Co Ltd PF | 257 | ||||||||
| 1,445,793 | * | Daiwa Securities Group, Inc | 6,474 | |||||||
| 18,647 | Daou Data Corp | 147 | ||||||||
| 26,078 | Daou Technology, Inc | 351 | ||||||||
| 290,647 | Deutsche Bank AG. (Registered) | 2,554 | ||||||||
| 25,447 | Deutsche Beteiligungs AG. | 676 | ||||||||
| 168,911 | Deutsche Boerse AG. | 28,365 | ||||||||
| 607,077 | * | Dhani Services Ltd | 277 | |||||||
| 642 | Diamond Hill Investment Group, Inc | 111 | ||||||||
| 3,744,000 | e | Differ Group Holding Co Ltd | 900 | |||||||
| 533,442 | Discover Financial Services | 50,453 | ||||||||
| 70,051 | g | doBank S.p.A | 415 | |||||||
| 211,225 | Dongxing Securities Co Ltd | 281 | ||||||||
| 22,031 | * | Donnelley Financial Solutions, Inc | 645 | |||||||
| 57 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 31,064 | Dynex Capital, Inc | $ | 495 | |||||||
| 548,289 | East Money Information Co Ltd | 2,088 | ||||||||
| 331,138 | * | Eclipx Group Ltd | 526 | |||||||
| 268,473 | ECN Capital Corp | 1,149 | ||||||||
| 17,318,093 | Edelweiss Capital Ltd | 11,345 | ||||||||
| 113,005 | EFG International | 832 | ||||||||
| 43,086 | eGuarantee, Inc | 685 | ||||||||
| 531,848 | * | Egyptian Financial Group-Hermes Holding | 337 | |||||||
| 5,545 | * | Electreon Wireless Ltd | 101 | |||||||
| 478,602 | e | Element Financial Corp | 4,990 | |||||||
| 48,440 | e | Ellington Financial Inc | 711 | |||||||
| 29,330 | *,e | Encore Capital Group, Inc | 1,694 | |||||||
| 27,032 | * | Enova International, Inc | 779 | |||||||
| 411,321 | EQT AB | 8,454 | ||||||||
| 2,189,562 | Equitable Holdings, Inc | 57,082 | ||||||||
| 5,826 | Eurazeo | 362 | ||||||||
| 1,129,619 | g | Euronext NV | 92,643 | |||||||
| 158,806 | Everbright Securities Co Ltd | 375 | ||||||||
| 152,016 | Evercore Inc | 14,230 | ||||||||
| 56,106 | EXOR NV | 3,506 | ||||||||
| 42,795 | * | Ezcorp, Inc (Class A) | 321 | |||||||
| 53,861 | Factset Research Systems, Inc | 20,713 | ||||||||
| 762,401 | e | Far East Horizon Ltd | 640 | |||||||
| 15,959 | Federated Investors, Inc (Class B) | 507 | ||||||||
| 81,161 | e | Fiera Capital Corp | 586 | |||||||
| 69,700 | Financial Products Group Co Ltd | 467 | ||||||||
| 153,600 | FinVolution Group (ADR) | 730 | ||||||||
| 224,091 | First Capital Securities Co Ltd | 215 | ||||||||
| 76,236 | FirstCash Holdings, Inc | 5,299 | ||||||||
| 8,552,989 | FirstRand Ltd | 32,916 | ||||||||
| 287,808 | * | flatexDEGIRO AG. | 2,751 | |||||||
| 38,783 | g | Flow Traders | 1,113 | |||||||
| 150,398 | * | Focus Financial Partners, Inc | 5,123 | |||||||
| 350,446 | Founder Securities Co Ltd | 352 | ||||||||
| 122,315 | Franklin BSP Realty Trust, Inc | 1,649 | ||||||||
| 257,044 | e | Franklin Resources, Inc | 5,992 | |||||||
| 6,874,435 | Fuhwa Financial Holdings Co Ltd | 4,553 | ||||||||
| 62,000 | *,e | Futu Holdings Ltd (ADR) | 3,237 | |||||||
| 34,984 | Fuyo General Lease Co Ltd | 1,985 | ||||||||
| 1,055 | GAMCO Investors, Inc (Class A) | 22 | ||||||||
| 69,605 | e | GCM Grosvenor, Inc | 477 | |||||||
| 1,169,000 | g | Genertec Universal Medical Group Company Limited | 716 | |||||||
| 1,251,200 | e | Gentera SAB de C.V. | 1,002 | |||||||
| 849,236 | GF Securities Co Ltd | 1,125 | ||||||||
| 264,108 | GF Securities Co Ltd (Class A) | 740 | ||||||||
| 25,503 | Gimv NV | 1,409 | ||||||||
| 12,832,000 | *,e | Glory Sun Financial Group Ltd | 76 | |||||||
| 40,301 | *,e | GMO Financial Holdings, Inc | 231 | |||||||
| 190,717 | goeasy Ltd | 14,535 | ||||||||
| 575,555 | Goldman Sachs Group, Inc | 170,951 | ||||||||
| 4,397,338 | * | Grab Holdings Ltd. | 11,125 | |||||||
| 46,791 | Granite Point Mortgage Trust, Inc | 448 | ||||||||
| 58 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 129,161 | * | Green Dot Corp | $ | 3,243 | ||||||
| 31,760 | GRENKE AG. | 782 | ||||||||
| 14,364 | Groupe Bruxelles Lambert S.A. | 1,204 | ||||||||
| 31,656 | e | Gruppo MutuiOnline S.p.A | 802 | |||||||
| 221,312 | Guangzhou Yuexiu Financial Holdings Group Co Ltd | 233 | ||||||||
| 106,604 | * | Guolian Securities Co Ltd | 196 | |||||||
| 280,049 | Guosen Securities Co Ltd | 401 | ||||||||
| 3,158,800 | Guotai Junan International Hol | 375 | ||||||||
| 367,216 | Guotai Junan Securities Co Ltd | 836 | ||||||||
| 176,654 | Guoyuan Securities Co Ltd | 164 | ||||||||
| 3,129,810 | e | Haitong International Securities Group Ltd | 447 | |||||||
| 2,280,773 | Haitong Securities Co Ltd | 1,679 | ||||||||
| 488,012 | Haitong Securities Co Ltd (Class A) | 717 | ||||||||
| 1,852,000 | e,g | Haitong UniTrust International Leasing Co Ltd | 201 | |||||||
| 13,477 | Hamilton Lane, Inc | 905 | ||||||||
| 68,183 | e | Hannon Armstrong Sustainable Infrastructure Capital, Inc | 2,581 | |||||||
| 123,618 | Hanwha Securities Co | 312 | ||||||||
| 51,197 | Hargreaves Lansdown plc | 494 | ||||||||
| 21,986 | Hithink RoyalFlush Information Network Co Ltd | 317 | ||||||||
| 2,846,566 | Hong Kong Exchanges and Clearing Ltd | 140,780 | ||||||||
| 188,000 | Hotai Finance Co Ltd | 636 | ||||||||
| 41,471 | Houlihan Lokey, Inc | 3,273 | ||||||||
| 1,206,540 | g | Huatai Securities Co Ltd | 1,795 | |||||||
| 153,334 | Huatai Securities Co Ltd (Class A) | 326 | ||||||||
| 161,200 | Huaxi Securities Co Ltd | 189 | ||||||||
| 90,075 | e | HUB24 Ltd | 1,262 | |||||||
| 34,444 | * | Hypoport AG. | 6,870 | |||||||
| 128,393 | g | ICICI Securities Ltd | 699 | |||||||
| 1,370,531 | IDFC Ltd | 857 | ||||||||
| 166,100 | e | iFAST Corp Ltd | 495 | |||||||
| 5,303,126 | IG Group Holdings plc | 44,759 | ||||||||
| 104,834 | IGM Financial, Inc | 2,810 | ||||||||
| 42,606 | IIFL Wealth Management Ltd | 802 | ||||||||
| 70,459 | * | Illimity Bank S.p.A | 769 | |||||||
| 102,982 | Impax Asset Management Group plc | 756 | ||||||||
| 533,807 | g | Indian Energy Exchange Ltd | 1,077 | |||||||
| 352,580 | Industrial Securities Co Ltd | 372 | ||||||||
| 127,869 | e | Industrivarden AB | 2,858 | |||||||
| 241,556 | Industrivarden AB | 5,461 | ||||||||
| 333,935 | IntegraFin Holdings plc | 918 | ||||||||
| 250,005 | Inter & Co, Inc | 666 | ||||||||
| 68,681 | Interactive Brokers Group, Inc (Class A) | 3,778 | ||||||||
| 655,871 | Intercontinental Exchange Group, Inc | 61,678 | ||||||||
| 383,753 | Intermediate Capital Group plc | 6,135 | ||||||||
| 861,000 | *,g | International Alliance Financial Leasing Co Ltd | 426 | |||||||
| 301,620 | Invesco Ltd | 4,865 | ||||||||
| 28,660 | e | Invesco Mortgage Capital, Inc | 421 | |||||||
| 323,761 | Investec Ltd | 1,749 | ||||||||
| 809,543 | Investec plc | 4,408 | ||||||||
| 35,452 | Investment AB Oresund | 349 | ||||||||
| 521,347 | Investor AB | 9,390 | ||||||||
| 329,519 | Investor AB | 5,434 | ||||||||
| 59 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 738,648 | IOOF Holdings Ltd | $ | 1,376 | |||||||
| 1,952,961 | IP Group plc | 1,672 | ||||||||
| 156,784 | Is Yatirim Menkul Degerler AS | 179 | ||||||||
| 3,655,092 | iShares Core MSCI Emerging Markets ETF | 179,319 | ||||||||
| 9,390 | iShares Core S&P 500 ETF | 3,560 | ||||||||
| 21,300 | e | iShares MSCI ACWI ex US ETF | 959 | |||||||
| 877,700 | e | iShares MSCI Canada Index Fund | 29,561 | |||||||
| 40,150 | e | iShares MSCI EAFE Index Fund | 2,509 | |||||||
| 12,800 | e | iShares MSCI EAFE Small-Cap ETF | 699 | |||||||
| 19,052 | iShares MSCI Emerging Markets | 764 | ||||||||
| 5,000 | e | iShares MSCI Emerging Markets Small-Cap ETF | 240 | |||||||
| 8,897 | e | iShares Russell 2000 Index Fund | 1,507 | |||||||
| 231,490 | Isracard Ltd | 829 | ||||||||
| 24,025 | Jaccs Co Ltd | 595 | ||||||||
| 71,887 | e | Jackson Financial, Inc | 1,923 | |||||||
| 140,254 | Jafco Co Ltd | 1,696 | ||||||||
| 148,991 | Janus Henderson Group plc | 3,503 | ||||||||
| 108,600 | Japan Securities Finance Co Ltd | 684 | ||||||||
| 189,736 | Jefferies Financial Group, Inc | 5,241 | ||||||||
| 430,325 | JM Financial Ltd | 334 | ||||||||
| 663,700 | JMT Network Services PCL | 1,379 | ||||||||
| 114,240 | JSE Ltd | 706 | ||||||||
| 159,276 | g | JTC plc | 1,149 | |||||||
| 30,663 | Julius Baer Group Ltd | 1,422 | ||||||||
| 489,293 | Jupiter Investment Management Group Ltd | 880 | ||||||||
| 33,638 | * | Kinnevik AB | 544 | |||||||
| 19,117 | KIWOOM Securities Co Ltd | 1,224 | ||||||||
| 550,640 | KKR & Co, Inc | 25,489 | ||||||||
| 99,071 | KKR Real Estate Finance Trust, Inc | 1,729 | ||||||||
| 29,092 | Korea Investment Holdings Co Ltd | 1,387 | ||||||||
| 20,401 | KRUK S.A. | 1,089 | ||||||||
| 918,128 | Krungthai Card PCL | 1,484 | ||||||||
| 406,308 | Kumho Investment Bank | 286 | ||||||||
| 1,015,505 | * | L&T Finance Holdings Ltd | 873 | |||||||
| 833,783 | Ladder Capital Corp | 8,788 | ||||||||
| 90,200 | Lazard Ltd (Class A) | 2,923 | ||||||||
| 538,379 | * | LendingClub Corp | 6,294 | |||||||
| 3,097 | * | LendingTree, Inc | 136 | |||||||
| 10,579 | Leonteq A.G. | 589 | ||||||||
| 125,400 | *,e | LexinFintech Holdings Ltd (ADR) | 280 | |||||||
| 219,321 | * | Liberty Media Acquisition Corp | 2,176 | |||||||
| 73,354 | Liontrust Asset Management plc | 816 | ||||||||
| 434,691 | London Stock Exchange Group plc | 40,562 | ||||||||
| 395,669 | LPL Financial Holdings, Inc | 72,993 | ||||||||
| 600,900 | Lufax Holding Ltd (ADR) | 3,605 | ||||||||
| 13,804 | Lundbergs AB (B Shares) | 563 | ||||||||
| 95,157 | *,e | Lundin Energy MergerCo AB | 3,872 | |||||||
| 18,000 | * | M&A Capital Partners Co Ltd | 475 | |||||||
| 2,048,438 | M&G plc | 4,856 | ||||||||
| 107,647 | MA Financial Group Ltd | 336 | ||||||||
| 402,659 | Macquarie Group Ltd | 45,845 | ||||||||
| 167,413 | Magellan Financial Group Ltd | 1,497 | ||||||||
| 60 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 270,706 | * | Magma Fincorp Ltd | $ | 786 | ||||||
| 661,193 | Mahindra & Mahindra Financial Services Ltd | 1,475 | ||||||||
| 26,883,002 | Man Group plc | 82,067 | ||||||||
| 629,995 | Manappuram General Finance & Leasing Ltd | 681 | ||||||||
| 8,765 | Manning & Napier, Inc | 109 | ||||||||
| 41,167 | MarketAxess Holdings, Inc | 10,539 | ||||||||
| 11,617 | * | MarketWise, Inc | 42 | |||||||
| 205,700 | Marui Co Ltd | 3,601 | ||||||||
| 11,381 | g | MAS Financial Services Ltd | 71 | |||||||
| 145,100 | Matsui Securities Co Ltd | 862 | ||||||||
| 34,661 | Meritz finance Holdings Co Ltd | 693 | ||||||||
| 190,308 | Meritz Securities Co Ltd | 669 | ||||||||
| 7,827,380 | Metro Pacific Investments Corp | 503 | ||||||||
| 86,935 | MFA Financial, Inc | 935 | ||||||||
| 210,744 | Mirae Asset Daewoo Co Ltd | 1,076 | ||||||||
| 1,002,570 | Mitsubishi UFJ Lease & Finance Co Ltd | 4,627 | ||||||||
| 32,700 | Mizuho Leasing Co Ltd | 749 | ||||||||
| 82,590 | MLP AG. | 495 | ||||||||
| 17,094,900 | * | MNC Kapital Indonesia Tbk PT | 140 | |||||||
| 111,476 | Moelis & Co | 4,387 | ||||||||
| 200,752 | e | Monex Group, Inc | 625 | |||||||
| 110,830 | *,e | Moneylion, Inc | 146 | |||||||
| 170,842 | Moody’s Corp | 46,464 | ||||||||
| 4,125,795 | Morgan Stanley | 313,808 | ||||||||
| 22,817 | Morningstar, Inc | 5,518 | ||||||||
| 39,542 | Motilal Oswal Financial Services Ltd | 385 | ||||||||
| 82,218 | MSCI, Inc (Class A) | 33,886 | ||||||||
| 456,982 | Muangthai Capital PCL | 553 | ||||||||
| 32,065 | Multi Commodity Exchange of India Ltd | 533 | ||||||||
| 83,636 | Muthoot Finance Ltd | 1,036 | ||||||||
| 190,439 | Nanjing Securities Co Ltd | 238 | ||||||||
| 103,041 | Nasdaq Inc | 15,718 | ||||||||
| 367,093 | National Investments Co KSCP | 360 | ||||||||
| 96,857 | Navient Corp | 1,355 | ||||||||
| 39,527 | Nayifat Finance Co | 267 | ||||||||
| 12,436 | Nelnet, Inc (Class A) | 1,060 | ||||||||
| 277,566 | Netwealth Group Ltd | 2,334 | ||||||||
| 392,161 | New Residential Investment Corp | 3,655 | ||||||||
| 320,925 | New York Mortgage Trust, Inc | 886 | ||||||||
| 1,257,523 | Ngern Tid Lor PCL | 1,043 | ||||||||
| 18,149 | NICE Holdings Co Ltd | 207 | ||||||||
| 219,549 | Ninety One Ltd | 520 | ||||||||
| 572,193 | Ninety One plc | 1,377 | ||||||||
| 120,074 | g | Nippon Life India Asset Management Ltd | 414 | |||||||
| 35,200 | * | Noah Holdings Ltd (ADR) | 712 | |||||||
| 2,127,036 | * | Nomura Holdings, Inc | 7,728 | |||||||
| 1,247,668 | Nordnet AB publ | 16,425 | ||||||||
| 142,300 | Northeast Securities Co Ltd | 149 | ||||||||
| 19,495 | Northern Trust Corp | 1,881 | ||||||||
| 123,056 | Numis Corp plc | 376 | ||||||||
| 600,000 | *,e | OCI International Holdings Ltd | 262 | |||||||
| 164,093 | Okasan Holdings, Inc | 410 | ||||||||
| 61 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,632,968 | * | Omni Bridgeway Ltd | $ | 4,019 | ||||||
| 148,474 | OneMain Holdings, Inc | 5,550 | ||||||||
| 93,414 | Onex Corp | 4,652 | ||||||||
| 75,419 | * | Open Lending Corp | 772 | |||||||
| 65,282 | * | Oportun Financial Corp | 540 | |||||||
| 7,593 | Oppenheimer Holdings, Inc | 251 | ||||||||
| 43,898 | *,e | OppFi, Inc | 144 | |||||||
| 148,678 | e | Orchid Island Capital, Inc | 424 | |||||||
| 627,500 | Orient Corp | 593 | ||||||||
| 390,151 | Orient Securities Co Ltd | 597 | ||||||||
| 3,053,968 | ORIX Corp | 51,184 | ||||||||
| 1,019,438 | Osaka Securities Exchange Co Ltd | 14,776 | ||||||||
| 8,677,000 | * | Pacific Strategic Financial Tbk PT | 588 | |||||||
| 245,390 | * | Paisalo Digital Ltd | 224 | |||||||
| 3,176 | Partners Group | 2,868 | ||||||||
| 414,932 | Pendal Group Ltd | 1,270 | ||||||||
| 65,674 | PennyMac Mortgage Investment Trust | 908 | ||||||||
| 1,511,264 | * | Pensionbee Group plc | 2,162 | |||||||
| 7,193 | Perella Weinberg Partners | 42 | ||||||||
| 67,822 | Perpetual Trustees Australia Ltd | 1,354 | ||||||||
| 136,738 | e | Pinnacle Investment Management Group Ltd | 666 | |||||||
| 121,271 | Piper Jaffray Cos | 13,747 | ||||||||
| 1,781,364 | Piramal Healthcare Ltd | 37,530 | ||||||||
| 3,840 | PJT Partners, Inc | 270 | ||||||||
| 587,795 | e | Platinum Asset Mangement Ltd | 710 | |||||||
| 115,813 | Plus500 Ltd | 2,360 | ||||||||
| 89,892 | Polar Capital Holdings plc | 556 | ||||||||
| 32,503 | * | PRA Group, Inc | 1,182 | |||||||
| 900,000 | President Securities Corp | 567 | ||||||||
| 131,321 | * | PROG Holdings, Inc | 2,167 | |||||||
| 277,355 | Provident Financial plc | 676 | ||||||||
| 37,165 | Pzena Investment Management, Inc (Class A) | 245 | ||||||||
| 1,519,834 | g | Quilter plc | 1,905 | |||||||
| 1,793,800 | Ratchthani Leasing PCL | 204 | ||||||||
| 67,521 | Rathbone Brothers | 1,596 | ||||||||
| 249,731 | Ratos AB (B Shares) | 1,066 | ||||||||
| 166,152 | h | Raymond James Financial, Inc | 14,856 | |||||||
| 234,779 | Ready Capital Corp | 2,799 | ||||||||
| 1,063,841 | REC Ltd | 1,672 | ||||||||
| 138,328 | e | Redwood Trust, Inc | 1,067 | |||||||
| 153,226 | Regional Management Corp | 5,726 | ||||||||
| 88,937 | Reinet Investments S.C.A | 1,562 | ||||||||
| 572,871 | Remgro Ltd | 4,575 | ||||||||
| 139,212 | g | Resurs Holding AB | 277 | |||||||
| 16,461 | Ricoh Leasing Co Ltd | 424 | ||||||||
| 48,919 | * | Robinhood Markets, Inc | 402 | |||||||
| 703,433 | S&P Global, Inc | 237,099 | ||||||||
| 44,369 | Samsung Securities Co Ltd | 1,147 | ||||||||
| 177,240 | Sanne Group plc | 1,955 | ||||||||
| 37,462 | Saudi Tadawul Group Holding Co | 1,887 | ||||||||
| 167,054 | SBI Cards & Payment Services Ltd | 1,630 | ||||||||
| 1,109,838 | * | SBI Holdings, Inc | 21,686 | |||||||
| 62 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 17,380 | Schroders plc | $ | 568 | |||||||
| 14,276 | Sculptor Capital Management, Inc | 119 | ||||||||
| 518,991 | Sealand Securities Co Ltd | 282 | ||||||||
| 97,080 | SEI Investments Co | 5,244 | ||||||||
| 10,900 | Shanxi Securities Co Ltd | 9 | ||||||||
| 541,000 | *,e | Sheng Ye Capital Ltd | 406 | |||||||
| 956,844 | Shenwan Hongyuan Group Co Ltd | 614 | ||||||||
| 3,436 | Shinyoung Securities Co Ltd | 146 | ||||||||
| 22,431 | Shriram City Union Finance Ltd | 472 | ||||||||
| 135,032 | Shriram Transport Finance Co Ltd | 2,205 | ||||||||
| 1,098,130 | * | SHUAA Capital PSC | 150 | |||||||
| 1,528 | Silvercrest Asset Management Group, Inc | 25 | ||||||||
| 3,213,044 | Singapore Exchange Ltd | 21,890 | ||||||||
| 151,982 | * | Sinolink Securities Co Ltd | 205 | |||||||
| 246,301 | SLM Corp | 3,926 | ||||||||
| 5,964 | Societe Fonciere Financiere et de Participations FFP | 541 | ||||||||
| 72,780 | *,e | SoFi Technologies, Inc | 384 | |||||||
| 15,989 | e | Sofina S.A. | 3,277 | |||||||
| 211,935 | SooChow Securities Co Ltd | 220 | ||||||||
| 421,273 | Southwest Securities Co Ltd | 250 | ||||||||
| 94,358 | Sparx Group Co Ltd | 184 | ||||||||
| 8,000 | e | SPDR S&P 500 ETF Trust | 3,018 | |||||||
| 25,060 | e | Sprott, Inc | 871 | |||||||
| 768,475 | *,†,e | SRH NV | 8 | |||||||
| 688,210 | Srisawad Corp PCL | 946 | ||||||||
| 419,791 | St. James’s Place plc | 5,648 | ||||||||
| 300,285 | Standard Life Aberdeen plc | 586 | ||||||||
| 470,618 | Starwood Property Trust, Inc | 9,831 | ||||||||
| 34,368 | State Street Corp | 2,119 | ||||||||
| 233,781 | StepStone Group, Inc | 6,085 | ||||||||
| 106,055 | Stifel Financial Corp | 5,941 | ||||||||
| 17,755 | * | StoneX Group, Inc | 1,386 | |||||||
| 10,324 | Strike Co Ltd | 260 | ||||||||
| 532,735 | Sun Hung Kai & Co Ltd | 249 | ||||||||
| 19,679 | * | Sunlight Financial Holdings, Inc | 58 | |||||||
| 106,065 | Svolder AB | 543 | ||||||||
| 11,493 | Swissquote Group Holding S.A. | 1,172 | ||||||||
| 2,678 | * | SWK Holdings Corp | 47 | |||||||
| 47,423 | Synchrony Financial | 1,310 | ||||||||
| 202,339 | T Rowe Price Group, Inc | 22,988 | ||||||||
| 178,000 | Taiwan Acceptance Corp | 1,285 | ||||||||
| 195,490 | Tamburi Investment Partners S.p.A. | 1,504 | ||||||||
| 13,401 | Tata Investment Corp Ltd | 228 | ||||||||
| 1,031,581 | Tel Aviv Stock Exchange Ltd | 4,711 | ||||||||
| 94,377 | TMX Group Ltd | 9,605 | ||||||||
| 206,580 | Tokai Tokyo Securities Co Ltd | 564 | ||||||||
| 46,300 | Tokyo Century Corp | 1,538 | ||||||||
| 100,679 | Tong Yang Investment Bank | 211 | ||||||||
| 936,072 | TP Icap Group plc | 1,280 | ||||||||
| 57,149 | TPG RE Finance Trust, Inc | 515 | ||||||||
| 98,042 | Tradeweb Markets, Inc | 6,691 | ||||||||
| 698,779 | Transaction Capital Ltd | 1,577 | ||||||||
| 63 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,397,077 | Turkiye Sinai Kalkinma Bankasi AS | $ | 169 | |||||||
| 279,807 | Two Harbors Investment Corp | 1,393 | ||||||||
| 6,562,840 | UBS Group AG | 106,100 | ||||||||
| 117,800 | *,e | Up Fintech Holding Ltd (ADR) | 555 | |||||||
| 47,075 | *,e | Upstart Holdings, Inc | 1,489 | |||||||
| 43,062 | UTI Asset Management Co Ltd | 354 | ||||||||
| 198 | Value Line, Inc | 13 | ||||||||
| 1,161,011 | e | Value Partners Group Ltd | 438 | |||||||
| 25,000 | e | Vanguard FTSE Developed Markets ETF | 1,020 | |||||||
| 46,881 | Victory Capital Holdings, Inc | 1,130 | ||||||||
| 138,880 | Virtu Financial, Inc | 3,251 | ||||||||
| 5,276 | Virtus Investment Partners, Inc | 902 | ||||||||
| 105,652 | * | VNV Global AB | 249 | |||||||
| 196,130 | Vontobel Holding AG. | 13,781 | ||||||||
| 670,197 | e | Voya Financial, Inc | 39,897 | |||||||
| 54,461 | Warsaw Stock Exchange | 457 | ||||||||
| 2,546,000 | Waterland Financial Holdings | 1,246 | ||||||||
| 32,300 | *,e | WealthNavi, Inc | 425 | |||||||
| 27,736 | Wendel | 2,325 | ||||||||
| 287,403 | Western Securities Co Ltd | 281 | ||||||||
| 22,909 | e | WisdomTree Investments, Inc | 116 | |||||||
| 106,239 | Woori Investment & Securities Co Ltd | 743 | ||||||||
| 62,862 | * | Woori Technology Investment Co Ltd | 255 | |||||||
| 1,612 | *,e | World Acceptance Corp | 181 | |||||||
| 1,072,151 | * | XP, Inc | 19,256 | |||||||
| 46,176 | g | X-Trade Brokers Dom Maklerski S.A. | 213 | |||||||
| 4,899,600 | * | Yangzijiang Financial Holding Pte Ltd | 1,446 | |||||||
| 1,698,000 | *,e,g | Yixin Group Ltd | 230 | |||||||
| 116,865 | Zenkoku Hosho Co Ltd | 3,670 | ||||||||
| 234,991 | Zheshang Securities Co Ltd | 400 | ||||||||
| 316,800 | Zhongtai Securities Co Ltd | 363 | ||||||||
| 635,136 | *,e | Zip Co Ltd | 194 | |||||||
| TOTAL DIVERSIFIED FINANCIALS | 4,724,612 | |||||||||
| ENERGY - 5.1% | ||||||||||
| 301,000 | * | 3R PETROLEUM OLEO E GAS S.A. | 2,022 | |||||||
| 1,181,000 | g | AAG Energy Holdings Ltd | 206 | |||||||
| 17,802,661 | Adaro Energy Tbk | 3,429 | ||||||||
| 224,656 | * | Advantage Energy Ltd | 1,396 | |||||||
| 172,945 | Aegis Logistics Ltd | 460 | ||||||||
| 24,380 | *,e | Aemetis, Inc | 120 | |||||||
| 816,110 | e | Aker BP ASA | 28,264 | |||||||
| 321,619 | Aker Solutions ASA | 872 | ||||||||
| 44,578 | Aldrees Petroleum and Transport Services Co | 794 | ||||||||
| 378,560 | *,e | Alto Ingredients, Inc | 1,404 | |||||||
| 12,666 | e | Altus Midstream Co | 432 | |||||||
| 134,043 | * | Amplify Energy Corp | 877 | |||||||
| 261,550 | Ampol Ltd | 6,173 | ||||||||
| 288,213 | Antero Midstream Corp | 2,608 | ||||||||
| 1,400,514 | * | Antero Resources Corp | 42,926 | |||||||
| 317,020 | APA Corp | 11,064 | ||||||||
| 761,169 | ARC Resources Ltd | 9,597 | ||||||||
| 64 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 33,686 | Arch Resources, Inc | $ | 4,820 | |||||||
| 37,221 | * | Archaea Energy, Inc | 578 | |||||||
| 219,346 | Archrock, Inc | 1,814 | ||||||||
| 28,068 | * | Ardmore Shipping Corp | 196 | |||||||
| 619,821 | *,e | Athabasca Oil Corp | 1,199 | |||||||
| 85,566 | Baker Hughes Co | 2,470 | ||||||||
| 1,370,700 | Bangchak Corp PCL | 1,213 | ||||||||
| 6,671,100 | Banpu PCL (Foreign) | 2,383 | ||||||||
| 365 | * | Battalion Oil Corp | 3 | |||||||
| 808,584 | * | Baytex Energy Trust | 3,926 | |||||||
| 1,858,738 | Beach Petroleum Ltd | 2,214 | ||||||||
| 122,518 | Berry Petroleum Co LLC | 934 | ||||||||
| 1,064,523 | Bharat Petroleum Corp Ltd | 4,171 | ||||||||
| 309,723 | e | Birchcliff Energy Ltd | 2,105 | |||||||
| 127,696 | e | Bonanza Creek Energy, Inc | 6,677 | |||||||
| 249,934 | *,e | Borr Drilling Ltd | 1,152 | |||||||
| 248,194 | * | Borr Drilling Ltd | 1,099 | |||||||
| 369,362 | * | Boss Energy Ltd | 453 | |||||||
| 24,440,494 | BP plc | 114,760 | ||||||||
| 172,600 | BP plc (ADR) | 4,893 | ||||||||
| 324,261 | Brigham Minerals, Inc | 7,987 | ||||||||
| 4,650,000 | *,†,e | Brightoil Petroleum Holdings Ltd | 667 | |||||||
| 19,756 | * | Bristow Group, Inc | 462 | |||||||
| 2,991,000 | * | Bumi Armada BHD | 261 | |||||||
| 105,944 | * | BW Energy Ltd | 274 | |||||||
| 98,008 | g | BW LPG Ltd | 728 | |||||||
| 123,984 | BW Offshore Ltd | 336 | ||||||||
| 938,331 | Cabot Oil & Gas Corp | 24,200 | ||||||||
| 20,725 | Cactus, Inc | 835 | ||||||||
| 404,854 | *,e | Cairn Energy plc | 1,076 | |||||||
| 76,992 | California Resources Corp | 2,964 | ||||||||
| 14,089 | * | Callon Petroleum Co | 552 | |||||||
| 751,371 | Cameco Corp (Toronto) | 15,796 | ||||||||
| 181,038 | e | Canacol Energy Ltd | 354 | |||||||
| 1,485,228 | Canadian Natural Resources Ltd | 79,811 | ||||||||
| 151,461 | e | Cardinal Energy Ltd | 851 | |||||||
| 1,805,806 | Cenovus Energy, Inc (Toronto) | 34,357 | ||||||||
| 1,035,762 | * | Centennial Resource Development, Inc | 6,194 | |||||||
| 8,584 | *,e | Centrus Energy Corp | 212 | |||||||
| 808,823 | * | CGG S.A. | 706 | |||||||
| 2,790,000 | e | CGN Mining Co Ltd | 261 | |||||||
| 443,282 | ChampionX Corp | 8,799 | ||||||||
| 517,710 | Cheniere Energy, Inc | 68,871 | ||||||||
| 27,239 | e | Chesapeake Energy Corp | 2,209 | |||||||
| 3,206,678 | Chevron Corp | 464,263 | ||||||||
| 300,803 | e | China Aviation Oil Singapore Corp Ltd | 190 | |||||||
| 2,671,000 | China Coal Energy Co | 2,257 | ||||||||
| 2,541,122 | China Oilfield Services Ltd | 2,481 | ||||||||
| 517,276 | China Shenhua Energy Co Ltd - A | 2,572 | ||||||||
| 5,190,455 | China Shenhua Energy Co Ltd - H | 14,888 | ||||||||
| 2,303,000 | China Suntien Green Energy Cor | 1,173 | ||||||||
| 145,611 | * | Clean Energy Fuels Corp | 652 | |||||||
| 65 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 154,146 | * | CNX Resources Corp | $ | 2,537 | ||||||
| 1,919,459 | Coal India Ltd | 4,518 | ||||||||
| 118 | *,†,b | Cobalt International Energy, Inc | 0 | ^ | ||||||
| 1,000,000 | e | Computer Modelling Group Ltd | 3,776 | |||||||
| 122,089 | * | Comstock Resources Inc | 1,475 | |||||||
| 4,794,606 | ConocoPhillips | 430,604 | ||||||||
| 16,206 | * | CONSOL Energy, Inc | 800 | |||||||
| 11,150 | e | Continental Resources, Inc | 729 | |||||||
| 1,410,804 | Cosan SA Industria e Comercio | 4,906 | ||||||||
| 364,193 | COSCO SHIPPING Energy Transportation Co Ltd | 563 | ||||||||
| 205,958 | Cosmo Energy Holdings Co Ltd | 5,679 | ||||||||
| 99,788 | e | Crescent Energy, Inc | 1,245 | |||||||
| 680,503 | Crescent Point Energy Corp | 4,837 | ||||||||
| 161,423 | * | Crew Energy, Inc | 579 | |||||||
| 30,561 | CropEnergies AG. | 408 | ||||||||
| 55,139 | CVR Energy, Inc | 1,847 | ||||||||
| 7,828,749 | Dana Gas PJSC | 2,323 | ||||||||
| 10,606 | * | Delek Group Ltd | 1,378 | |||||||
| 467,586 | * | Delek US Holdings, Inc | 12,082 | |||||||
| 45,948 | * | Denbury, Inc | 2,756 | |||||||
| 921,048 | *,e | Denison Mines Corp | 909 | |||||||
| 1,832,566 | Devon Energy Corp | 100,993 | ||||||||
| 117,954 | DHT Holdings, Inc | 723 | ||||||||
| 4,812,512 | Dialog Group BHD | 2,327 | ||||||||
| 83,521 | * | Diamond Offshore Drilling, Inc | 492 | |||||||
| 1,258,631 | Diamondback Energy, Inc | 152,483 | ||||||||
| 2,456,234 | Diversified Gas & Oil plc | 3,342 | ||||||||
| 12,549 | * | DMC Global, Inc | 226 | |||||||
| 510,681 | DNO International ASA | 709 | ||||||||
| 25,545 | Dorian LPG Ltd | 388 | ||||||||
| 47,412 | * | Drilling Co of 1972 | 1,946 | |||||||
| 28,805 | * | Dril-Quip, Inc | 743 | |||||||
| 81,904 | DT Midstream, Inc | 4,015 | ||||||||
| 7,483 | *,e | Earthstone Energy, Inc | 102 | |||||||
| 7,447,010 | Ecopetrol S.A. | 4,042 | ||||||||
| 1,039 | *,e | Empire Petroleum Corp | 12 | |||||||
| 454,981 | Empresas COPEC S.A. | 3,357 | ||||||||
| 699,500 | Enauta Participacoes S.A. | 2,348 | ||||||||
| 2,567,633 | Enbridge, Inc | 108,434 | ||||||||
| 3,395,268 | ENEOS Holdings, Inc | 12,776 | ||||||||
| 107,908 | e | Enerflex Ltd | 509 | |||||||
| 145,089 | * | Energean plc | 1,941 | |||||||
| 1,168,600 | *,† | Energy Earth PCL | 0 | ^ | ||||||
| 163,091 | *,e | Energy Fuels, Inc | 801 | |||||||
| 185,625 | *,e | Energy Fuels, Inc | 914 | |||||||
| 1 | Energy Transfer LP | 0 | ^ | |||||||
| 372,608 | Enerplus Corp | 4,924 | ||||||||
| 2,313,820 | ENI S.p.A. | 27,443 | ||||||||
| 1,743,162 | * | Enquest plc (London) | 502 | |||||||
| 5,948 | Enviva, Inc | 340 | ||||||||
| 2,826,774 | EOG Resources, Inc | 312,189 | ||||||||
| 1,598,955 | EQT Corp | 55,004 | ||||||||
| 66 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 2,869,084 | Equinor ASA | $ | 99,974 | |||||||
| 24,113 | * | Equital Ltd | 766 | |||||||
| 278,224 | Equitrans Midstream Corp | 1,770 | ||||||||
| 992,100 | * | Esso Thailand PCL (Foreign) | 326 | |||||||
| 182,030 | * | Etablissements Maurel et Prom | 848 | |||||||
| 200,775 | Euronav NV | 2,422 | ||||||||
| 14,966 | * | Excelerate Energy, Inc | 298 | |||||||
| 296,517 | Exxaro Resources Ltd | 3,603 | ||||||||
| 4,728,689 | Exxon Mobil Corp | 404,965 | ||||||||
| 35,055 | e | FLEX LNG Ltd | 981 | |||||||
| 23,773 | e | FLEX LNG Ltd | 651 | |||||||
| 1,367,269 | Formosa Petrochemical Corp | 4,310 | ||||||||
| 114,100 | * | Frank’s International NV | 1,314 | |||||||
| 294,019 | e | Freehold Royalty Trust | 2,910 | |||||||
| 72,203 | * | Frontera Energy Corp | 581 | |||||||
| 105,261 | *,e | Frontline Ltd | 933 | |||||||
| 139,425 | *,e | Frontline Ltd (Sigmax MTF) | 1,251 | |||||||
| 71,310 | Galp Energia SGPS S.A. | 834 | ||||||||
| 29,896 | e | Gaztransport Et Technigaz S.A. | 3,755 | |||||||
| 174,335 | Genel Energy PLC | 297 | ||||||||
| 173,086 | *,e | Gevo, Inc | 407 | |||||||
| 173,218 | Gibson Energy, Inc | 3,208 | ||||||||
| 326,984 | * | Golar LNG Ltd | 7,439 | |||||||
| 102,419 | Great Eastern Shipping Co Ltd | 513 | ||||||||
| 44,074 | * | Green Plains Inc | 1,198 | |||||||
| 111,412 | Grupa Lotos S.A. | 1,720 | ||||||||
| 728,086 | Guanghui Energy Co Ltd | 1,144 | ||||||||
| 90,469 | Gujarat Mineral Development Corp Ltd | 156 | ||||||||
| 923,829 | * | Gulf International Services QSC | 527 | |||||||
| 244,719 | Gulf Keystone Petroleum Ltd | 774 | ||||||||
| 7,255 | * | Gulfport Energy Operating Corp | 577 | |||||||
| 135,960 | Hafnia Ltd | 452 | ||||||||
| 1,683,076 | Halliburton Co | 52,781 | ||||||||
| 541,636 | Harbour Energy plc | 2,406 | ||||||||
| 722,681 | * | Headwater Exploration, Inc | 3,037 | |||||||
| 127,458 | * | Helix Energy Solutions Group, Inc | 395 | |||||||
| 74,915 | Hellenic Petroleum S.A. | 496 | ||||||||
| 793,940 | Helmerich & Payne, Inc | 34,187 | ||||||||
| 605,481 | Hess Corp | 64,145 | ||||||||
| 33,303 | HF Sinclair Corp | 1,504 | ||||||||
| 1,735,200 | Hibiscus Petroleum BHD | 392 | ||||||||
| 1,242 | HighPeak Energy, Inc | 32 | ||||||||
| 825,476 | Hindustan Petroleum Corp Ltd | 2,279 | ||||||||
| 301,827 | Hunting plc | 794 | ||||||||
| 36,151 | Hyundai Robotics Co Ltd | 1,661 | ||||||||
| 229,549 | Idemitsu Kosan Co Ltd | 5,484 | ||||||||
| 408,077 | e | Imperial Oil Ltd | 19,237 | |||||||
| 1,236,552 | * | Indian Oil Corp Ltd | 1,166 | |||||||
| 2,473,104 | Indian Oil Corp Ltd | 2,333 | ||||||||
| 452,800 | Indo Tambangraya Megah Tbk PT | 934 | ||||||||
| 225,600 | Inner Mongolia Dian Tou Energy Corp Ltd | 483 | ||||||||
| 1,439,000 | * | Inner Mongolia Yitai Coal Co | 2,358 | |||||||
| 67 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 2,988,934 | Inpex Holdings, Inc | $ | 32,042 | |||||||
| 41,207 | International Seaways, Inc | 874 | ||||||||
| 14,431,086 | IRPC PCL (Foreign) | 1,317 | ||||||||
| 74,150 | Itochu Enex Co Ltd | 575 | ||||||||
| 50,022 | Iwatani International Corp | 1,931 | ||||||||
| 173,377 | Japan Petroleum Exploration Co | 4,067 | ||||||||
| 419,200 | Jizhong Energy Resources Co Ltd | 467 | ||||||||
| 806,408 | * | John Wood Group plc | 1,531 | |||||||
| 670,145 | * | Karoon Gas Australia Ltd | 805 | |||||||
| 670,678 | * | Kelt Exploration Ltd | 3,189 | |||||||
| 265,675 | e | Keyera Corp | 6,068 | |||||||
| 1,228,895 | Kinder Morgan, Inc | 20,596 | ||||||||
| 81,789 | Koninklijke Vopak NV | 2,061 | ||||||||
| 78,778 | * | Kosmos Energy Ltd | 488 | |||||||
| 2,732 | * | Laredo Petroleum, Inc | 188 | |||||||
| 282,969 | * | Liberty Oilfield Services, Inc | 3,611 | |||||||
| 95,157 | e | Lundin Petroleum AB | 65 | |||||||
| 70,833 | e | Magnolia Oil & Gas Corp | 1,487 | |||||||
| 1,071,326 | Marathon Oil Corp | 24,083 | ||||||||
| 597,160 | Marathon Petroleum Corp | 49,093 | ||||||||
| 256,359 | Matador Resources Co | 11,944 | ||||||||
| 496,625 | * | MEG Energy Corp | 6,875 | |||||||
| 36,800 | Mitsuuroko Co Ltd | 251 | ||||||||
| 20,530 | Modec, Inc | 177 | ||||||||
| 542,176 | MOL Hungarian Oil & Gas plc | 4,194 | ||||||||
| 88,837 | Motor Oil Hellas Corinth Refineries S.A. | 1,655 | ||||||||
| 80,875 | Murphy Oil Corp | 2,442 | ||||||||
| 20,497 | * | Nabors Industries Ltd | 2,745 | |||||||
| 3,237 | Nacco Industries, Inc (Class A) | 123 | ||||||||
| 41,629 | * | Naphtha Israel Petroleum Corp Ltd | 276 | |||||||
| 45,367 | * | National Energy Services Reunited Corp | 308 | |||||||
| 225,066 | Neste Oil Oyj | 10,011 | ||||||||
| 27,917 | e | New Fortress Energy, Inc | 1,105 | |||||||
| 645,677 | e | New Hope Corp Ltd | 1,552 | |||||||
| 72,631 | * | Newpark Resources, Inc | 224 | |||||||
| 479,273 | * | NexGen Energy Ltd | 1,720 | |||||||
| 4,742 | * | NextDecade Corp | 21 | |||||||
| 828,951 | * | NexTier Oilfield Solutions, Inc | 7,883 | |||||||
| 26,984 | * | Noble Corp | 684 | |||||||
| 160,044 | e | Nordic American Tankers Ltd | 341 | |||||||
| 490,526 | Northern Oil and Gas, Inc | 12,391 | ||||||||
| 244,699 | NOV, Inc | 4,138 | ||||||||
| 215,612 | * | NuVista Energy Ltd | 1,729 | |||||||
| 20,091 | Oasis Petroleum, Inc | 2,444 | ||||||||
| 78,845 | * | Obsidian Energy Ltd | 609 | |||||||
| 535,800 | Occidental Petroleum Corp | 31,548 | ||||||||
| 25,185 | * | Oceaneering International, Inc | 269 | |||||||
| 111,318 | * | Odfjell Drilling Ltd | 263 | |||||||
| 746,227 | Offshore Oil Engineering Co Ltd | 462 | ||||||||
| 325,291 | Oil India Ltd | 1,034 | ||||||||
| 2,410,201 | Oil Refineries Ltd | 866 | ||||||||
| 55,433 | * | Oil States International, Inc | 300 | |||||||
| 68 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 78,198 | e | OMV AG. | $ | 3,678 | ||||||
| 464,330 | ONEOK, Inc | 25,770 | ||||||||
| 65,040 | Ovintiv, Inc | 2,874 | ||||||||
| 3,093,214 | *,e | Paladin Resources Ltd | 1,241 | |||||||
| 814,646 | *,e | Pantheon Resources plc | 890 | |||||||
| 188,853 | * | Par Pacific Holdings, Inc | 2,944 | |||||||
| 90,413 | e | Paramount Resources Ltd (Class A) | 2,159 | |||||||
| 140,948 | Parex Resources, Inc | 2,387 | ||||||||
| 308,634 | e | Parkland Corp | 8,382 | |||||||
| 94,980 | Pason Systems, Inc | 1,077 | ||||||||
| 1,074,856 | Patterson-UTI Energy, Inc | 16,940 | ||||||||
| 11,626 | * | Paz Oil Co Ltd | 1,398 | |||||||
| 332,511 | * | PBF Energy, Inc | 9,649 | |||||||
| 13,429 | PDC Energy, Inc | 827 | ||||||||
| 823,252 | *,e | Peabody Energy Corp | 17,560 | |||||||
| 655,981 | e | Pembina Pipeline Income Fund | 23,188 | |||||||
| 3,359 | * | Penn Virginia Corp | 110 | |||||||
| 905,300 | * | Petro Rio S.A. | 3,804 | |||||||
| 510,781 | *,e | Petrofac Ltd | 697 | |||||||
| 4,265,595 | Petroleo Brasileiro S.A. | 24,892 | ||||||||
| 11,622,127 | Petroleo Brasileiro S.A. (Preference) | 62,025 | ||||||||
| 354,280 | Petronas Dagangan BHD | 1,699 | ||||||||
| 967,670 | Petronet LNG Ltd | 2,667 | ||||||||
| 153,600 | Petroreconcavo S.A. | 753 | ||||||||
| 282,712 | e | Peyto Exploration & Development Corp | 2,644 | |||||||
| 541,068 | Phillips 66 | 44,362 | ||||||||
| 274,300 | Pingdingshan Tianan Coal Mining Co Ltd | 557 | ||||||||
| 793,708 | Pioneer Natural Resources Co | 177,060 | ||||||||
| 142,507 | * | Pipestone Energy Corp | 441 | |||||||
| 360,180 | Polski Koncern Naftowy Orlen S.A. | 5,531 | ||||||||
| 2,251,482 | Polskie Gornictwo Naftowe i Gazownictwo S.A. | 2,872 | ||||||||
| 100,100 | *,† | Poseidon Concepts Corp | 1 | |||||||
| 461,738 | e | PrairieSky Royalty Ltd | 5,815 | |||||||
| 15,516 | * | Precision Drilling Corp | 997 | |||||||
| 961,500 | Prima Marine PCL | 151 | ||||||||
| 523,721 | * | ProPetro Holding Corp | 5,237 | |||||||
| 10,148,500 | PT AKR Corporindo Tbk | 702 | ||||||||
| 48,402,700 | * | PT Bumi Resources Minerals Tbk | 799 | |||||||
| 3,014,000 | PT Harum Energy Indonesia Tbk | 313 | ||||||||
| 6,900,500 | * | PT Indika Energy Tbk | 1,078 | |||||||
| 27,419,100 | * | PT Medco Energi Internasional Tbk | 1,168 | |||||||
| 7,182,300 | PT Tambang Batubara Bukit Asam Tbk | 1,844 | ||||||||
| 8,436,506 | PT United Tractors Tbk | 16,112 | ||||||||
| 1,882,148 | PTT Exploration & Production PCL | 8,485 | ||||||||
| 2,112,200 | PTT Exploration & Production PCL (ADR) | 9,522 | ||||||||
| 12,244,809 | PTT PCL | 11,789 | ||||||||
| 8,077,600 | PTT PCL | 7,777 | ||||||||
| 609,127 | Qatar Fuel QSC | 2,986 | ||||||||
| 3,031,051 | Qatar Gas Transport Co Ltd | 3,118 | ||||||||
| 250,622 | * | Rabigh Refining & Petrochemical Co | 1,139 | |||||||
| 414,732 | * | Rabigh Refining & Petrochemical Co | 1,885 | |||||||
| 134,653 | * | Range Resources Corp | 3,333 | |||||||
| 69 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 6,152,485 | * | Reliance Industries Ltd | $ | 203,151 | ||||||
| 942,322 | Repsol YPF S.A. | 13,892 | ||||||||
| 4,565 | * | Rex American Resources Corp | 387 | |||||||
| 10,724 | e | Riley Exploration Permian, Inc | 259 | |||||||
| 46,860 | *,e | Ring Energy, Inc | 125 | |||||||
| 15,477 | * | RPC, Inc | 107 | |||||||
| 14,273 | *,e | Saipem S.p.A | 38 | |||||||
| 65,652 | San-Ai Oil Co Ltd | 465 | ||||||||
| 5,809 | * | SandRidge Energy, Inc | 91 | |||||||
| 3,741,572 | Santos Ltd | 18,970 | ||||||||
| 642,251 | * | Saras S.p.A. | 937 | |||||||
| 8,819 | Saudi Arabia Refineries Co | 212 | ||||||||
| 3,540,218 | g | Saudi Arabian Oil Co | 36,588 | |||||||
| 156,131 | SBM Offshore NV | 2,115 | ||||||||
| 999,105 | Schlumberger Ltd | 35,728 | ||||||||
| 12,056 | Schoeller-Bleckmann Oilfield Equipment AG. | 678 | ||||||||
| 41,069 | Scorpio Tankers, Inc | 1,417 | ||||||||
| 360,558 | Secure Energy Services, Inc | 1,681 | ||||||||
| 60,978 | * | Select Energy Services, Inc | 416 | |||||||
| 2,803,500 | Semirara Mining & Power Corp | 1,790 | ||||||||
| 230,783 | Serica Energy plc | 800 | ||||||||
| 50 | *,† | Serval Integrated Energy Services | 0 | ^ | ||||||
| 97,361 | SFL Corp Ltd | 924 | ||||||||
| 776,338 | Shaanxi Coal Industry Co Ltd | 2,456 | ||||||||
| 302,900 | * | Shan XI Hua Yang Group New Energy Co Ltd | 700 | |||||||
| 313,786 | Shanxi Lu’an Environmental Energy Development Co Ltd | 684 | ||||||||
| 348,400 | Shanxi Xishan Coal & Electricity Power Co Ltd | 697 | ||||||||
| 14,997,374 | Shell plc | 390,573 | ||||||||
| 911,800 | Siamgas & Petrochemicals PCL | 289 | ||||||||
| 1,797 | * | SilverBow Resources, Inc | 51 | |||||||
| 1,916,000 | Sinopec Kantons Holdings Ltd | 658 | ||||||||
| 20,723 | Sitio Royalties Corp | 480 | ||||||||
| 12,552 | SK Discovery Co Ltd | 339 | ||||||||
| 3,083 | SK Gas Co Ltd | 289 | ||||||||
| 63,714 | * | SK Innovation Co Ltd | 9,459 | |||||||
| 215,824 | SM Energy Co | 7,379 | ||||||||
| 54,907 | S-Oil Corp | 4,376 | ||||||||
| 103,456 | Solaris Oilfield Infrastructure, Inc | 1,126 | ||||||||
| 223,310 | * | Southwestern Energy Co | 1,396 | |||||||
| 152,118 | *,e | Spartan Delta Corp | 1,462 | |||||||
| 1,735,500 | Star Petroleum Refining PCL | 594 | ||||||||
| 278,963 | Subsea 7 S.A. | 2,228 | ||||||||
| 2,144,883 | Suncor Energy, Inc | 75,251 | ||||||||
| 81,167 | Surge Energy, Inc | 574 | ||||||||
| 8,973,400 | Surya Esa Perkasa Tbk PT | 503 | ||||||||
| 235,026 | * | Talos Energy, Inc | 3,636 | |||||||
| 818,588 | e | Tamarack Valley Energy Ltd | 2,754 | |||||||
| 243,437 | Targa Resources Investments, Inc | 14,526 | ||||||||
| 1,139,641 | TC Energy Corp | 59,036 | ||||||||
| 156,978 | Technip Energies NV | 1,967 | ||||||||
| 35,469 | *,e | Tecnicas Reunidas S.A. | 263 | |||||||
| 65,371 | * | Teekay Corp | 188 | |||||||
| 70 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 19,524 | * | Teekay Tankers Ltd | $ | 344 | ||||||
| 2,195,707 | *,e | Tellurian, Inc | 6,543 | |||||||
| 503,735 | Tenaris S.A. | 6,470 | ||||||||
| 387,249 | * | Tetra Technologies, Inc | 1,572 | |||||||
| 5,677 | Texas Pacific Land Corp | 8,448 | ||||||||
| 318,432 | TGS Nopec Geophysical Co ASA | 4,471 | ||||||||
| 1,487,160 | Thai Oil PCL | 2,170 | ||||||||
| 150,428 | Thungela Resources Ltd | 2,133 | ||||||||
| 32,274 | * | Tidewater, Inc | 681 | |||||||
| 268,578 | Topaz Energy Corp | 4,238 | ||||||||
| 30,885 | * | TORM plc | 418 | |||||||
| 3,982,251 | Total S.A. | 209,614 | ||||||||
| 473,724 | e | Tourmaline Oil Corp | 24,632 | |||||||
| 260,655 | * | Trican Well Service Ltd | 747 | |||||||
| 1,447,610 | *,e | Tullow Oil plc | 830 | |||||||
| 161,231 | * | Turkiye Petrol Rafinerileri AS | 2,542 | |||||||
| 880,061 | Ultrapar Participacoes S.A. | 2,070 | ||||||||
| 9,046,000 | United Energy Group Ltd | 1,081 | ||||||||
| 44,019 | *,e | Uranium Energy Corp | 136 | |||||||
| 49,364 | *,e | Ur-Energy, Inc | 52 | |||||||
| 202,667 | * | US Silica Holdings, Inc | 2,314 | |||||||
| 8,940 | e | Vaalco Energy, Inc | 62 | |||||||
| 103,378 | * | Valaris Ltd | 4,367 | |||||||
| 2,075,622 | Valero Energy Corp | 220,597 | ||||||||
| 287,016 | *,e | Vallourec S.A. | 3,440 | |||||||
| 25,907 | Verbio AG. | 1,305 | ||||||||
| 189,724 | e | Vermilion Energy, Inc | 3,611 | |||||||
| 236,753 | *,e | Vertex Energy, Inc | 2,491 | |||||||
| 992,504 | g | Viva Energy Group Ltd | 1,983 | |||||||
| 274,403 | * | W&T Offshore, Inc | 1,185 | |||||||
| 5,553 | * | Waga Energy S.A. | 183 | |||||||
| 225,390 | Washington H Soul Pattinson & Co Ltd | 3,671 | ||||||||
| 195,932 | * | Weatherford International Ltd | 4,148 | |||||||
| 769,224 | Whitecap Resources, Inc | 5,343 | ||||||||
| 1,084,393 | Whitehaven Coal Ltd | 3,644 | ||||||||
| 26,602 | Whiting Petroleum Corp | 1,810 | ||||||||
| 1,259,293 | Williams Cos, Inc | 39,303 | ||||||||
| 2,374,597 | Woodside Energy Group Ltd | 52,190 | ||||||||
| 50,550 | World Fuel Services Corp | 1,034 | ||||||||
| 365,710 | Worley Ltd | 3,606 | ||||||||
| 144,033 | Yantai Jereh Oilfield Services Group Co Ltd | 867 | ||||||||
| 1,805,540 | * | Yanzhou Coal Mining Co Ltd | 5,648 | |||||||
| 212,669 | Yanzhou Coal Mining Co Ltd (Class A) | 1,254 | ||||||||
| 1,843,520 | Yinson Holdings BHD | 837 | ||||||||
| TOTAL ENERGY | 5,401,168 | |||||||||
| FOOD & STAPLES RETAILING - 1.6% | ||||||||||
| 49,990 | Abdullah Al Othaim Markets Co | 1,375 | ||||||||
| 582,963 | Aeon Co Ltd | 10,126 | ||||||||
| 25,200 | e | Aeon Hokkaido Corp | 202 | |||||||
| 30,383 | Ain Pharmaciez Inc | 1,627 | ||||||||
| 94,335 | Al Meera Consumer Goods Co | 452 | ||||||||
| 71 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,067,796 | Albertsons Cos, Inc | $ | 28,531 | |||||||
| 1,907,359 | Alimentation Couche-Tard, Inc | 74,401 | ||||||||
| 20,561 | Almunajem Foods Co | 323 | ||||||||
| 47,460 | Andersons, Inc | 1,566 | ||||||||
| 44,679 | Arcs Co Ltd | 660 | ||||||||
| 490,795 | Atacadao Distribuicao Comercio e Industria Ltd | 1,563 | ||||||||
| 184,447 | *,g | Avenue Supermarts Ltd | 7,985 | |||||||
| 125,352 | e | Axfood AB | 3,609 | |||||||
| 18,055 | Axial Retailing, Inc | 415 | ||||||||
| 12,400 | Belc Co Ltd | 473 | ||||||||
| 1,353,112 | Berli Jucker PCL | 1,243 | ||||||||
| 9,091 | BGF retail Co Ltd | 1,327 | ||||||||
| 385,578 | Bid Corp Ltd | 7,272 | ||||||||
| 548,292 | BIM Birlesik Magazalar AS | 2,656 | ||||||||
| 76,227 | * | BJ’s Wholesale Club Holdings, Inc | 4,750 | |||||||
| 696,610 | Carrefour S.A. | 12,366 | ||||||||
| 49,840 | Casey’s General Stores, Inc | 9,219 | ||||||||
| 49,375 | *,e | Casino Guichard Perrachon S.A. | 640 | |||||||
| 13,251 | Cawachi Ltd | 210 | ||||||||
| 1,679,064 | Cencosud S.A. | 2,137 | ||||||||
| 12,937 | * | Chefs’ Warehouse Holdings, Inc | 503 | |||||||
| 203,900 | Cia Brasileira de Distribuicao | 637 | ||||||||
| 260,288 | Clicks Group Ltd | 4,373 | ||||||||
| 1,374,064 | Coles Group Ltd | 16,910 | ||||||||
| 61,803 | Colruyt S.A. | 1,681 | ||||||||
| 1,671,400 | Cosco Capital, Inc | 131 | ||||||||
| 23,000 | Cosmos Pharmaceutical Corp | 2,209 | ||||||||
| 904,833 | Costco Wholesale Corp | 433,668 | ||||||||
| 6,348,516 | CP ALL plc | 10,939 | ||||||||
| 4,541,600 | CP Seven Eleven PCL (ADR) | 7,716 | ||||||||
| 31,900 | Create SD Holdings Co Ltd | 704 | ||||||||
| 6,118 | e | Daikokutenbussaan Co Ltd | 176 | |||||||
| 44,251 | DaShenLin Pharmaceutical Group Co Ltd | 207 | ||||||||
| 50,928 | *,g | Dino Polska S.A. | 3,633 | |||||||
| 497,566 | g | Dis-Chem Pharmacies Ltd | 971 | |||||||
| 16,397,216 | * | Distribuidora Internacional de Alimentacion S.A. | 224 | |||||||
| 39,882 | Dongsuh Co, Inc | 806 | ||||||||
| 24,610 | E-Mart Co Ltd | 2,007 | ||||||||
| 280,496 | Empire Co Ltd | 8,640 | ||||||||
| 1,390,610 | Endeavour Group Ltd | 7,275 | ||||||||
| 92,265 | * | Eurocash S.A. | 217 | |||||||
| 31,400 | e | Fuji Co Ltd | 491 | |||||||
| 23,800 | G-7 Holdings, Inc | 253 | ||||||||
| 8,600 | e | Genky DrugStores Co Ltd | 214 | |||||||
| 87,488 | George Weston Ltd | 10,220 | ||||||||
| 276,565 | GrainCorp Ltd-A | 1,821 | ||||||||
| 44,000 | Great Tree Pharmacy Co Ltd | 437 | ||||||||
| 134,367 | * | Grocery Outlet Holding Corp | 5,728 | |||||||
| 663,800 | e | Grupo Comercial Chedraui S.a. DE C.V. | 1,796 | |||||||
| 1,904,500 | * | Grupo Mateus S.A. | 1,230 | |||||||
| 49,159 | GS Retail Co Ltd | 973 | ||||||||
| 11,000 | Halows Co Ltd | 245 | ||||||||
| 72 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 31,058 | Heiwado Co Ltd | $ | 458 | |||||||
| 686,850 | * | HelloFresh SE | 22,408 | |||||||
| 33,739 | *,e | HF Foods Group Inc | 176 | |||||||
| 52,127 | Hyundai Greenfood Co Ltd | 313 | ||||||||
| 20,700 | Inageya Co Ltd | 189 | ||||||||
| 11,581 | Ingles Markets, Inc (Class A) | 1,005 | ||||||||
| 4,270 | Itochu-Shokuhin Co Ltd | 154 | ||||||||
| 244,547 | J Sainsbury plc | 609 | ||||||||
| 583,226 | Jeronimo Martins SGPS S.A. | 12,643 | ||||||||
| 25,923 | Kato Sangyo Co Ltd | 622 | ||||||||
| 478,111 | Kesko Oyj (B Shares) | 11,315 | ||||||||
| 27,200 | Kobe Bussan Co Ltd | 669 | ||||||||
| 727,261 | Koninklijke Ahold Delhaize NV | 18,930 | ||||||||
| 716,856 | Kroger Co | 33,929 | ||||||||
| 18,234 | Kusuri no Aoki Holdings Co Ltd | 782 | ||||||||
| 546,300 | e | La Comer SAB de C.V. | 1,018 | |||||||
| 52,000 | Lawson, Inc | 1,731 | ||||||||
| 19,696 | Life Corp | 376 | ||||||||
| 230,679 | Loblaw Cos Ltd | 20,804 | ||||||||
| 5,495 | M Yochananof & Sons Ltd | 330 | ||||||||
| 2,289,937 | * | Marks & Spencer Group plc | 3,799 | |||||||
| 37,414 | MARR S.p.A. | 517 | ||||||||
| 108,143 | * | Massmart Holdings Ltd | 233 | |||||||
| 124,656 | Matsumotokiyoshi Holdings Co Ltd | 5,041 | ||||||||
| 13,700 | Maxvalu Tokai Co Ltd | 274 | ||||||||
| 40,870 | * | Medplus Health Services Ltd | 398 | |||||||
| 1,150,272 | Metcash Ltd | 3,372 | ||||||||
| 274,693 | Metro Wholesale & Food Specialist AG. | 2,330 | ||||||||
| 287,012 | Metro, Inc | 15,405 | ||||||||
| 113,314 | * | Migros Ticaret AS | 326 | |||||||
| 22,900 | Natural Grocers by Vitamin C | 365 | ||||||||
| 20,708 | e | Neighbourly Pharmacy, Inc | 394 | |||||||
| 57,650 | North West Co, Inc | 1,491 | ||||||||
| 334,369 | * | Ocado Ltd | 3,187 | |||||||
| 1,325,444 | e | Olam Group Ltd | 1,453 | |||||||
| 323,193 | * | Performance Food Group Co | 14,860 | |||||||
| 1,207,194 | Pick’n Pay Stores Ltd | 4,171 | ||||||||
| 640,717 | President Chain Store Corp | 5,870 | ||||||||
| 9,951 | Pricesmart, Inc | 713 | ||||||||
| 19,200,900 | PT Sumber Alfaria Trijaya Tbk | 2,633 | ||||||||
| 1,091,700 | Puregold Price Club, Inc | 598 | ||||||||
| 1,141,735 | Raia Drogasil S.A. | 4,189 | ||||||||
| 10,090 | Rami Levi Chain Stores Hashikma Marketing Ltd | 723 | ||||||||
| 23,712 | e | Retail Partners Co Ltd | 200 | |||||||
| 29,994 | *,e | Rite Aid Corp | 202 | |||||||
| 950,560 | Robinsons Retail Holdings, Inc | 871 | ||||||||
| 16,541 | Ryoshoku Ltd | 462 | ||||||||
| 20,500 | San-A Co Ltd | 619 | ||||||||
| 7,723,416 | Sendas Distribuidora S.A. | 21,059 | ||||||||
| 1,442,163 | Seven & I Holdings Co Ltd | 55,956 | ||||||||
| 1,619,310 | Sheng Siong Group Ltd | 1,772 | ||||||||
| 11,111 | e | Shoei Foods Corp | 307 | |||||||
| 73 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 16,692 | *,g | Shop Apotheke Europe NV | $ | 1,491 | ||||||
| 564,610 | Shoprite Holdings Ltd | 6,879 | ||||||||
| 314,621 | Shufersal Ltd | 2,072 | ||||||||
| 28,352 | * | Sligro Food Group NV | 536 | |||||||
| 3,098,172 | SMU S.A. | 294 | ||||||||
| 312,963 | Sok Marketler Ticaret AS. | 215 | ||||||||
| 1,012,095 | Sonae SPGS S.A. | 1,242 | ||||||||
| 210,112 | Spar Group Ltd | 1,784 | ||||||||
| 29,997 | SpartanNash Co | 905 | ||||||||
| 68,334 | * | Sprouts Farmers Market, Inc | 1,730 | |||||||
| 42,296 | Sugi Pharmacy Co Ltd | 1,858 | ||||||||
| 782,500 | Sun Art Retail Group Ltd | 255 | ||||||||
| 87,200 | Sundrug Co Ltd | 1,950 | ||||||||
| 995,621 | SYSCO Corp | 84,339 | ||||||||
| 24,371,341 | Tesco plc | 75,956 | ||||||||
| 63,200 | Tsuruha Holdings, Inc | 3,439 | ||||||||
| 147,447 | * | United Natural Foods, Inc | 5,809 | |||||||
| 57,750 | United Super Markets Holdings, Inc | 455 | ||||||||
| 344,681 | * | US Foods Holding Corp | 10,575 | |||||||
| 40,094 | Valor Co Ltd | 540 | ||||||||
| 7,259 | Village Super Market (Class A) | 166 | ||||||||
| 505,654 | Walgreens Boots Alliance, Inc | 19,164 | ||||||||
| 5,969,336 | e | Wal-Mart de Mexico SAB de C.V. | 20,580 | |||||||
| 3,237,606 | Walmart, Inc | 393,628 | ||||||||
| 13,881 | Weis Markets, Inc | 1,035 | ||||||||
| 99,960 | Welcia Holdings Co Ltd | 2,010 | ||||||||
| 1,317,267 | Woolworths Ltd | 32,355 | ||||||||
| 20,500 | Yaoko Co Ltd | 920 | ||||||||
| 31,759 | Yifeng Pharmacy Chain Co Ltd | 251 | ||||||||
| 50,200 | Yokohama Reito Co Ltd | 326 | ||||||||
| 3,057,203 | Yonghui Superstores Co Ltd | 1,956 | ||||||||
| 11,090 | *,e | Zur Rose Group AG. | 833 | |||||||
| TOTAL FOOD & STAPLES RETAILING | 1,659,962 | |||||||||
| FOOD, BEVERAGE & TOBACCO - 3.8% | ||||||||||
| 28,641 | *,e | 22nd Century Group, Inc | 61 | |||||||
| 1,214,234 | *,e | a2 Milk Co Ltd | 3,733 | |||||||
| 212,876 | AAK AB | 3,473 | ||||||||
| 113,823 | AG. Barr plc | 719 | ||||||||
| 13,236 | Agrana Beteiligungs AG. | 236 | ||||||||
| 360,134 | Agthia Group PJSC | 519 | ||||||||
| 481,963 | Ajinomoto Co, Inc | 11,753 | ||||||||
| 17,197 | * | Al Jouf Agricultural Development Co | 213 | |||||||
| 5,034 | Alico, Inc | 179 | ||||||||
| 304,650 | Almarai Co JSC | 4,263 | ||||||||
| 1,767,861 | Altria Group, Inc | 73,844 | ||||||||
| 5,415,509 | AMBEV S.A. | 13,866 | ||||||||
| 245,576 | Anadolu Efes Biracilik Ve Malt Sanayii AS | 401 | ||||||||
| 36,811 | Angel Yeast Co Ltd | 268 | ||||||||
| 1,059,793 | Anheuser-Busch InBev S.A. | 57,072 | ||||||||
| 126,958 | Anhui Gujing Distillery Co Ltd | 1,982 | ||||||||
| 17,414 | Anhui Gujing Distillery Co Ltd (Class A) | 651 | ||||||||
| 74 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 36,517 | Anhui Kouzi Distillery Co Ltd | $ | 320 | |||||||
| 49,600 | Anhui Yingjia Distillery Co Ltd | 483 | ||||||||
| 42,635 | Anora Group Oyj | 346 | ||||||||
| 59,253 | *,e | AppHarvest, Inc | 207 | |||||||
| 186,838 | Archer-Daniels-Midland Co | 14,499 | ||||||||
| 22,572 | Ariake Japan Co Ltd | 929 | ||||||||
| 2,771,350 | *,e | Aryzta AG. | 3,076 | |||||||
| 201,686 | Asahi Breweries Ltd | 6,632 | ||||||||
| 76,649 | * | Aseer Trading Tourism & Manufacturing Co | 309 | |||||||
| 582,111 | Associated British Foods plc | 11,232 | ||||||||
| 76,731 | Astral Foods Ltd | 889 | ||||||||
| 415,000 | Ausnutria Dairy Corp Ltd | 438 | ||||||||
| 109,481 | Austevoll Seafood ASA | 1,291 | ||||||||
| 238,949 | * | Australian Agricultural Co Ltd | 357 | |||||||
| 54,581 | Avanti Feeds Ltd | 300 | ||||||||
| 383,497 | AVI Ltd | 1,549 | ||||||||
| 134,821 | B&G Foods, Inc (Class A) | 3,206 | ||||||||
| 58,693 | Bakkafrost P | 3,783 | ||||||||
| 165,384 | g | Bakkavor Group plc | 188 | |||||||
| 960,740 | Baladna | 448 | ||||||||
| 150,132 | Balrampur Chini Mills Ltd | 686 | ||||||||
| 4,244 | Barry Callebaut AG. | 9,496 | ||||||||
| 349,039 | Bega Cheese Ltd | 921 | ||||||||
| 260,201 | Beijing Dabeinong Technology Group Co Ltd | 304 | ||||||||
| 35,200 | Beijing Shunxin Agriculture Co Ltd | 141 | ||||||||
| 2,487 | Bell AG. | 658 | ||||||||
| 88,444 | * | Benson Hill, Inc | 242 | |||||||
| 10,578 | *,e | Beyond Meat, Inc | 253 | |||||||
| 6,211 | Binggrae Co Ltd | 221 | ||||||||
| 17,447 | Bombay Burmah Trading Co | 200 | ||||||||
| 14,766 | Bonduelle S.C.A. | 241 | ||||||||
| 19,435 | * | Boston Beer Co, Inc (Class A) | 5,888 | |||||||
| 52,500 | BrasilAgro-Co Brasileira de Propriedades Agricolas | 245 | ||||||||
| 3,959 | * | BRC, Inc | 32 | |||||||
| 714,147 | * | BRF S.A. | 1,854 | |||||||
| 124,283 | Britannia Industries Ltd | 5,472 | ||||||||
| 163,400 | British American Tobacco Malaysia BHD | 400 | ||||||||
| 2,994,885 | British American Tobacco plc | 128,374 | ||||||||
| 609,885 | Britvic plc | 6,045 | ||||||||
| 14,048 | Brown-Forman Corp (Class A) | 950 | ||||||||
| 57,420 | Brown-Forman Corp (Class B) | 4,029 | ||||||||
| 1,750,129 | g | Budweiser Brewing Co APAC Ltd | 5,252 | |||||||
| 1,032,400 | Bumitama Agri Ltd | 495 | ||||||||
| 348,569 | Bunge Ltd | 31,612 | ||||||||
| 462,259 | * | C&C Group plc | 1,041 | |||||||
| 3,263 | Calavo Growers, Inc | 136 | ||||||||
| 98,600 | Calbee, Inc | 1,987 | ||||||||
| 84,292 | Cal-Maine Foods, Inc | 4,165 | ||||||||
| 148,100 | Camil Alimentos S.A. | 278 | ||||||||
| 49,523 | Campbell Soup Co | 2,380 | ||||||||
| 291,200 | Carabao Group PCL | 879 | ||||||||
| 169,644 | Carlsberg AS (Class B) | 21,681 | ||||||||
| 75 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 169,500 | Carlsberg Brewery-Malay BHD | $ | 865 | |||||||
| 84,379 | CCL Products India Ltd | 411 | ||||||||
| 61,810 | *,e | Celsius Holdings, Inc | 4,034 | |||||||
| 1,509,000 | * | Century Pacific Food, Inc | 604 | |||||||
| 27,566 | Chacha Food Co Ltd | 235 | ||||||||
| 177,000 | * | Charoen Pokphand Enterprise | 482 | |||||||
| 4,015,631 | Charoen Pokphand Foods PCL | 2,958 | ||||||||
| 4,023,021 | g | China Feihe Ltd | 4,632 | |||||||
| 4,375,889 | *,†,e | China Huishan Dairy Holdings Co Ltd | 6 | |||||||
| 370,000 | *,† | China Huiyuan Juice Group Ltd | 0 | ^ | ||||||
| 3,602,227 | China Mengniu Dairy Co Ltd | 18,058 | ||||||||
| 3,892,000 | e | China Modern Dairy Holdings | 586 | |||||||
| 1,779,392 | China Resources Beer Holdings Company Ltd | 13,297 | ||||||||
| 1,008,000 | *,g | China Youran Dairy Group Ltd | 417 | |||||||
| 20,327 | Chongqing Brewery Co Ltd | 446 | ||||||||
| 23,304 | Chongqing Fuling Zhacai Group Co Ltd | 120 | ||||||||
| 165,481 | Cia Cervecerias Unidas S.A. | 1,046 | ||||||||
| 1,364,400 | Cisarua Mountain Dairy PT TBK | 385 | ||||||||
| 9,356 | CJ CheilJedang Corp | 2,739 | ||||||||
| 615,418 | Cloetta AB | 1,264 | ||||||||
| 5,327,571 | Coca-Cola Co | 335,157 | ||||||||
| 9,338 | Coca-Cola Consolidated Inc | 5,266 | ||||||||
| 236,147 | * | Coca-Cola European Partners plc (Class A) | 12,188 | |||||||
| 629,753 | e | Coca-Cola Femsa SAB de C.V. | 3,487 | |||||||
| 312,662 | Coca-Cola HBC AG. | 6,967 | ||||||||
| 90,785 | Coca-Cola Icecek AS | 705 | ||||||||
| 154,200 | e | Coca-Cola West Japan Co Ltd | 1,843 | |||||||
| 1,928,000 | Cofco International Ltd | 683 | ||||||||
| 2,857,000 | COFCO Meat Holdings Ltd | 1,385 | ||||||||
| 419,781 | ConAgra Brands, Inc | 14,373 | ||||||||
| 427,957 | Constellation Brands, Inc (Class A) | 99,740 | ||||||||
| 16,781 | Corby Spirit and Wine Ltd | 225 | ||||||||
| 541,675 | Costa Group Holdings Ltd | 1,071 | ||||||||
| 60,982 | Cranswick plc | 2,284 | ||||||||
| 26,344 | Daesang Corp | 416 | ||||||||
| 1,557,820 | g | Dali Foods Group Co Ltd | 829 | |||||||
| 492,703 | Danone | 27,592 | ||||||||
| 143,839 | * | Darling International, Inc | 8,602 | |||||||
| 3,297,181 | Davide Campari-Milano NV | 34,784 | ||||||||
| 3,979,344 | Diageo plc | 171,879 | ||||||||
| 181,283 | * | Distell Group Holdings Ltd | 1,909 | |||||||
| 1,841 | Dongwon F&B Co Ltd | 211 | ||||||||
| 1,500 | Dongwon Industries Co Ltd | 259 | ||||||||
| 5,978 | * | Duckhorn Portfolio, Inc | 126 | |||||||
| 9,900 | e | Dydo Drinco, Inc | 368 | |||||||
| 1,578,489 | Eastern Tobacco | 864 | ||||||||
| 75,940 | e | Ebro Puleva S.A. | 1,284 | |||||||
| 450,269 | Embotelladora Andina S.A. | 803 | ||||||||
| 504,326 | Embotelladoras Arca SAB de C.V. | 3,323 | ||||||||
| 2,472 | Emmi AG. | 2,414 | ||||||||
| 54,115 | e | Ezaki Glico Co Ltd | 1,568 | |||||||
| 1,063,371 | Fevertree Drinks plc | 15,835 | ||||||||
| 76 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 3,166,000 | First Pacific Co | $ | 1,231 | |||||||
| 668,200 | First Resources Ltd | 785 | ||||||||
| 47,161 | Flowers Foods, Inc | 1,241 | ||||||||
| 2,225,583 | e | Fomento Economico Mexicano S.A. de C.V. | 15,025 | |||||||
| 958,862 | Fomento Economico Mexicano SAB de C.V. (ADR) | 64,714 | ||||||||
| 259,486 | Foshan Haitian Flavouring & Food Co Ltd | 3,512 | ||||||||
| 198,600 | Fraser & Neave Holdings BHD | 956 | ||||||||
| 26,008 | Fresh Del Monte Produce, Inc | 768 | ||||||||
| 38,295 | * | Freshpet, Inc | 1,987 | |||||||
| 10,045 | Fu Jian Anjoy Foods Co Ltd | 252 | ||||||||
| 50,327 | Fuji Oil Co Ltd | 795 | ||||||||
| 87,800 | Fujian Sunner Development Co Ltd | 252 | ||||||||
| 14,332 | Fujicco Co Ltd | 211 | ||||||||
| 11,382 | Fujiya Co Ltd | 202 | ||||||||
| 386,771 | Futuris Corp Ltd | 3,367 | ||||||||
| 176,789 | General Mills, Inc | 13,339 | ||||||||
| 322,000 | Genting Plantations BHD | 471 | ||||||||
| 497,700 | GFPT PCL (Foreign) | 241 | ||||||||
| 263,991 | Glanbia plc | 2,866 | ||||||||
| 12,015 | Godfrey Phillips India Ltd | 161 | ||||||||
| 14,005,625 | Golden Agri-Resources Ltd | 2,520 | ||||||||
| 690,000 | Great Wall Enterprise Co | 1,103 | ||||||||
| 602,624 | * | Greencore Group plc | 728 | |||||||
| 57,937 | Grieg Seafood ASA | 831 | ||||||||
| 229,926 | e | Gruma SAB de C.V. | 2,545 | |||||||
| 1,516,041 | e | Grupo Bimbo S.A. de C.V. (Series A) | 4,928 | |||||||
| 206,000 | e | Grupo Herdez SAB de C.V. | 273 | |||||||
| 442,800 | Guan Chong Bhd | 253 | ||||||||
| 119,645 | Guangdong Haid Group Co Ltd | 1,074 | ||||||||
| 243,700 | Guinness Anchor BHD | 1,273 | ||||||||
| 78,670 | Gujarat Ambuja Exports Ltd | 283 | ||||||||
| 61,948 | * | Hain Celestial Group, Inc | 1,471 | |||||||
| 15,173 | Halwani Brothers Co | 268 | ||||||||
| 56,772 | Harim Holdings Co Ltd | 368 | ||||||||
| 259,814 | Health & Happiness H&H International Holdings Ltd | 344 | ||||||||
| 101,447 | Heilongjiang Agriculture Co Ltd | 224 | ||||||||
| 114,204 | Heineken Holding NV | 8,296 | ||||||||
| 778,463 | e | Heineken NV | 70,857 | |||||||
| 244,748 | Henan Shuanghui Investment & Development Co Ltd | 1,073 | ||||||||
| 376,177 | Hershey Co | 80,938 | ||||||||
| 37,838 | Hite Jinro Co Ltd | 899 | ||||||||
| 18,900 | Hokuto Corp | 270 | ||||||||
| 74,415 | e | Hormel Foods Corp | 3,524 | |||||||
| 492,158 | * | Hostess Brands, Inc | 10,439 | |||||||
| 103,054 | * | Hotel Chocolat Group Ltd | 357 | |||||||
| 68,662 | House Foods Corp | 1,433 | ||||||||
| 10,570 | Hyundai Feed, Inc | 240 | ||||||||
| 353,300 | Ichitan Group PCL | 80 | ||||||||
| 1,081,935 | Imperial Tobacco Group plc | 24,222 | ||||||||
| 2,586,509 | Indofood CBP Sukses Makmur Tbk | 1,659 | ||||||||
| 440,308 | Inghams Group Ltd | 785 | ||||||||
| 17,105 | Ingredion, Inc | 1,508 | ||||||||
| 77 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 446,953 | Inner Mongolia Yili Industrial Group Co Ltd | $ | 2,604 | |||||||
| 9,135,000 | *,† | Inti Agri Resources Tbk PT | 0 | ^ | ||||||
| 2,669,206 | IOI Corp BHD | 2,325 | ||||||||
| 3,373,121 | ITC Ltd | 11,719 | ||||||||
| 34,929 | Ito En Ltd | 1,571 | ||||||||
| 165,800 | Itoham Yonekyu Holdings, Inc | 845 | ||||||||
| 2,477 | J&J Snack Foods Corp | 346 | ||||||||
| 26,918 | J.M. Smucker Co | 3,446 | ||||||||
| 117,000 | Jalles Machado S.A. | 171 | ||||||||
| 429,030 | Japan Tobacco, Inc | 7,435 | ||||||||
| 6,038,900 | Japfa Comfeed Indonesia Tbk PT | 625 | ||||||||
| 471,742 | Japfa Ltd | 202 | ||||||||
| 952,682 | JBS S.A. | 5,751 | ||||||||
| 79,496 | e | JDE Peet’s BV | 2,263 | |||||||
| 65,126 | Jiangsu King’s Luck Brewery JSC Ltd | 497 | ||||||||
| 104,581 | Jiangsu Yanghe Brewery Joint-Stock Co Ltd | 2,868 | ||||||||
| 221,706 | Jiangxi Zhengbang Technology Co Ltd | 201 | ||||||||
| 11,262 | JiuGui Liquor Co Ltd | 313 | ||||||||
| 29,977 | John B. Sanfilippo & Son, Inc | 2,173 | ||||||||
| 14,246 | J-Oil Mills, Inc | 169 | ||||||||
| 62,564 | * | Jonjee Hi-Tech Industrial And Commercial Holding Co Ltd | 324 | |||||||
| 28,401 | Juewei Food Co Ltd | 246 | ||||||||
| 401,694 | Juhayna Food Industries | 155 | ||||||||
| 86,846 | Kagome Co Ltd | 2,123 | ||||||||
| 16,200 | Kameda Seika Co Ltd | 576 | ||||||||
| 44,432 | Kaveri Seed Co Ltd | 287 | ||||||||
| 238,058 | Kellogg Co | 16,983 | ||||||||
| 120,248 | Kerry Group plc (Class A) | 11,500 | ||||||||
| 2,003,326 | Keurig Dr Pepper, Inc | 70,898 | ||||||||
| 104,397 | Kewpie Corp | 1,768 | ||||||||
| 2,723,500 | Khon Kaen Sugar Industry PCL | 285 | ||||||||
| 141,975 | Kikkoman Corp | 7,555 | ||||||||
| 577,153 | Kirin Brewery Co Ltd | 9,117 | ||||||||
| 22,380 | Kotobuki Spirits Co Ltd | 1,218 | ||||||||
| 180,816 | Kraft Heinz Co | 6,896 | ||||||||
| 127,958 | KT&G Corp | 8,111 | ||||||||
| 486,435 | Kuala Lumpur Kepong BHD | 2,421 | ||||||||
| 85,485 | Kweichow Moutai Co Ltd | 26,146 | ||||||||
| 16,703 | KWS Saat AG. | 992 | ||||||||
| 560,990 | Lamb Weston Holdings, Inc | 40,088 | ||||||||
| 5,207 | Lancaster Colony Corp | 671 | ||||||||
| 21,977 | * | Landec Corp | 219 | |||||||
| 3,827 | e | Lassonde Industries, Inc | 354 | |||||||
| 312,871 | Leroy Seafood Group ASA | 2,240 | ||||||||
| 91,000 | * | Lian HWA Food Corp | 271 | |||||||
| 882,000 | Lien Hwa Industrial Corp | 1,664 | ||||||||
| 1,069 | Lindt & Spruengli AG. | 10,885 | ||||||||
| 129 | Lindt & Spruengli AG. (Registered) | 13,526 | ||||||||
| 2,873 | *,e | Local Bounti Corp | 9 | |||||||
| 3,667 | Lotte Chilsung Beverage Co Ltd | 496 | ||||||||
| 2,075 | Lotte Confectionery Co Ltd | 191 | ||||||||
| 777 | Lotus Bakeries NV | 4,260 | ||||||||
| 78 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 99,723 | Luzhou Laojiao Co Ltd | $ | 3,681 | |||||||
| 199,100 | M Dias Branco S.A. | 993 | ||||||||
| 3,158 | Maeil Dairies Co Ltd | 141 | ||||||||
| 97,003 | e | Maple Leaf Foods, Inc | 1,907 | |||||||
| 408,100 | Marfrig Global Foods S.A. | 944 | ||||||||
| 583,229 | Marico Ltd | 3,537 | ||||||||
| 48,200 | Maruha Nichiro Corp | 907 | ||||||||
| 64,747 | McCormick & Co, Inc | 5,390 | ||||||||
| 51,887 | Megmilk Snow Brand Co Ltd | 694 | ||||||||
| 106,022 | MEIJI Holdings Co Ltd | 5,210 | ||||||||
| 148,642 | Mezzan Holding Co KSCC | 205 | ||||||||
| 127,629 | e | MGP Ingredients, Inc | 12,774 | |||||||
| 318,800 | Minerva S.A. | 808 | ||||||||
| 30,170 | *,e | Mission Produce, Inc | 430 | |||||||
| 13,800 | Mitsui Sugar Co Ltd | 194 | ||||||||
| 154,973 | Molson Coors Brewing Co (Class B) | 8,448 | ||||||||
| 6,876,300 | *,g | Monde Nissin Corp | 1,627 | |||||||
| 4,225,757 | Mondelez International, Inc | 262,377 | ||||||||
| 2,707,343 | * | Monster Beverage Corp | 250,971 | |||||||
| 45,779 | Morinaga & Co Ltd | 1,467 | ||||||||
| 112,613 | Morinaga Milk Industry Co Ltd | 4,033 | ||||||||
| 436,987 | Mowi ASA | 9,993 | ||||||||
| 356,437 | Muyuan Foodstuff Co Ltd | 2,951 | ||||||||
| 209,000 | Namchow Chemical Industrial Ltd | 321 | ||||||||
| 59,425 | * | National Agriculture Development Co | 500 | |||||||
| 4,186 | National Beverage Corp | 205 | ||||||||
| 38,452 | Nestle India Ltd | 8,532 | ||||||||
| 81,614 | Nestle Malaysia BHD | 2,455 | ||||||||
| 3,832,214 | Nestle S.A. | 447,881 | ||||||||
| 13,424 | * | Neto Malinda Trading Ltd | 540 | |||||||
| 311,605 | * | New Hope Liuhe Co Ltd | 714 | |||||||
| 291,692 | Nichirei Corp | 5,076 | ||||||||
| 50,497 | Nippon Flour Mills Co Ltd | 608 | ||||||||
| 95,000 | Nippon Meat Packers, Inc | 2,976 | ||||||||
| 338,959 | Nippon Suisan Kaisha Ltd | 1,433 | ||||||||
| 24,722 | Nisshin Oillio Group Ltd | 572 | ||||||||
| 198,578 | Nisshin Seifun Group, Inc | 2,324 | ||||||||
| 77,278 | Nissin Food Products Co Ltd | 5,338 | ||||||||
| 334,568 | e | Nissin Foods Co Ltd | 224 | |||||||
| 5,364 | Nong Shim Co Ltd | 1,109 | ||||||||
| 2,058,200 | e,g | Nongfu Spring Co Ltd | 11,877 | |||||||
| 14,854 | * | Norway Royal Salmon ASA | 378 | |||||||
| 94,212 | Oceana Group Ltd | 258 | ||||||||
| 219,528 | Origin Enterprises plc | 948 | ||||||||
| 25,626 | Orion Corp | 297 | ||||||||
| 26,548 | Orion Corp/Republic of Korea | 2,135 | ||||||||
| 8,314 | Orior AG. | 696 | ||||||||
| 751,543 | Orkla ASA | 6,020 | ||||||||
| 1,433,417 | Osotspa PCL | 1,391 | ||||||||
| 1,668 | Ottogi Corp | 545 | ||||||||
| 2,711,698 | PepsiCo, Inc | 451,932 | ||||||||
| 387,087 | Pernod-Ricard S.A. | 71,563 | ||||||||
| 79 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 673 | Philip Morris CR | $ | 464 | |||||||
| 2,653,896 | Philip Morris International, Inc | 262,046 | ||||||||
| 107,419 | * | Pilgrim’s Pride Corp | 3,355 | |||||||
| 14,182 | * | Post Holdings, Inc | 1,168 | |||||||
| 685,541 | PPB Group BHD | 2,467 | ||||||||
| 745,294 | Premier Foods plc | 1,023 | ||||||||
| 52,518 | e | Premium Brands Holdings Corp | 3,806 | |||||||
| 73,538 | Prima Meat Packers Ltd | 1,235 | ||||||||
| 654,301 | Primo Water Corp | 8,755 | ||||||||
| 188,036 | Primo Water Corp (Toronto) | 2,511 | ||||||||
| 1,801,300 | PT Astra Agro Lestari Tbk | 1,186 | ||||||||
| 8,053,918 | PT Charoen Pokphand Indonesia Tbk | 3,245 | ||||||||
| 592,284 | PT Gudang Garam Tbk | 1,240 | ||||||||
| 5,159,709 | PT Indofood Sukses Makmur Tbk | 2,444 | ||||||||
| 3,193,900 | PT Perusahaan Perkebunan London Sumatra Indonesia Tbk | 249 | ||||||||
| 4,287,300 | PT Sawit Sumbermas Sarana Tbk | 348 | ||||||||
| 823,300 | QL Resources BHD | 971 | ||||||||
| 559,417 | Qurain Petrochemical Industries Co | 574 | ||||||||
| 463,300 | R&B Food Supply PCL | 204 | ||||||||
| 86,851 | Radico Khaitan Ltd | 964 | ||||||||
| 44,612 | e | Remy Cointreau S.A. | 7,828 | |||||||
| 27,800 | Riken Vitamin Co Ltd | 349 | ||||||||
| 579,813 | *,e | RLX Technology, Inc (ADR) | 1,235 | |||||||
| 112,125 | e | Rogers Sugar, Inc | 527 | |||||||
| 93,480 | Royal Unibrew A.S. | 8,319 | ||||||||
| 20,194 | S Foods, Inc | 465 | ||||||||
| 96,455 | Sakata Seed Corp | 3,250 | ||||||||
| 103,412 | Salmar ASA | 7,321 | ||||||||
| 2,747 | Samlip General Foods Co Ltd | 150 | ||||||||
| 3,276 | Samyang Corp | 103 | ||||||||
| 4,391 | Samyang Foods Co Ltd | 344 | ||||||||
| 4,106 | Samyang Holdings Corp | 225 | ||||||||
| 56,722 | Sanderson Farms, Inc | 12,225 | ||||||||
| 185,600 | Sao Martinho S.A. | 1,288 | ||||||||
| 72,686 | Sapporo Holdings Ltd | 1,615 | ||||||||
| 296,468 | Saputo, Inc | 6,465 | ||||||||
| 22,496 | * | Saudi Fisheries Co | 204 | |||||||
| 18,903 | Saudia Dairy & Foodstuff Co | 824 | ||||||||
| 297,661 | Savola Group | 2,670 | ||||||||
| 101,079 | g | Scandinavian Tobacco Group A.S. | 1,981 | |||||||
| 14,844 | Schouw & Co | 1,038 | ||||||||
| 223 | Seaboard Corp | 866 | ||||||||
| 150,039 | e | Select Harvests Ltd | 487 | |||||||
| 4,961 | * | Seneca Foods Corp | 276 | |||||||
| 37,143 | Shanghai Bairun Investment Holding Group Co Ltd | 167 | ||||||||
| 81,722 | Shanxi Xinghuacun Fen Wine Factory Co Ltd | 3,974 | ||||||||
| 19,587 | e | Showa Sangyo Co Ltd | 367 | |||||||
| 757,311 | * | Shree Renuka Sugars Ltd | 447 | |||||||
| 23,001 | Sichuan Swellfun Co Ltd | 319 | ||||||||
| 2,199,478 | Sime Darby Plantation BHD | 2,161 | ||||||||
| 34,366 | * | Simply Good Foods Co | 1,298 | |||||||
| 136,170 | SLC Agricola S.A. | 1,148 | ||||||||
| 80 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,799,171 | e,g | Smoore International Holdings Ltd | $ | 5,553 | ||||||
| 12,086 | *,e | Sovos Brands, Inc | 192 | |||||||
| 440,000 | Standard Foods Corp | 689 | ||||||||
| 106,455 | Strauss Group Ltd | 2,622 | ||||||||
| 84,620 | Suedzucker AG. | 1,370 | ||||||||
| 90,318 | *,e | SunOpta, Inc | 698 | |||||||
| 22,186 | * | SunOpta, Inc | 173 | |||||||
| 51,023 | Suntory Beverage & Food Ltd | 1,927 | ||||||||
| 3,698,794 | Swedish Match AB | 37,737 | ||||||||
| 89,081 | *,e | Synlait Milk Ltd | 173 | |||||||
| 231,000 | Taisun Enterprise Co Ltd | 237 | ||||||||
| 581,000 | * | Taiwan TEA Corp | 379 | |||||||
| 166,103 | Takara Holdings, Inc | 1,231 | ||||||||
| 241,718 | Tassal Group Ltd | 800 | ||||||||
| 616,313 | Tata Tea Ltd | 5,530 | ||||||||
| 465,433 | Tate & Lyle plc | 4,265 | ||||||||
| 9,673 | *,e | Tattooed Chef, Inc | 61 | |||||||
| 3,216,003 | Thai Union Group PCL | 1,557 | ||||||||
| 410,300 | Thai Vegetable Oil PCL (Foreign) | 366 | ||||||||
| 770,800 | Thaifoods Group PCL | 141 | ||||||||
| 190,241 | e | Tiger Brands Ltd | 1,661 | |||||||
| 2,219,301 | Tingyi Cayman Islands Holding Corp | 3,814 | ||||||||
| 88,339 | Toly Bread Co Ltd | 219 | ||||||||
| 294,839 | Tongwei Co Ltd | 2,644 | ||||||||
| 4,749 | e | Tootsie Roll Industries, Inc | 168 | |||||||
| 144,400 | Toyo Suisan Kaisha Ltd | 5,638 | ||||||||
| 741,570 | Treasury Wine Estates Ltd | 5,816 | ||||||||
| 41,666 | * | TreeHouse Foods, Inc | 1,742 | |||||||
| 138,100 | Tres Tentos Agroindustrial S.A. | 211 | ||||||||
| 93,653 | Triveni Engineering & Industries Ltd | 281 | ||||||||
| 1,191,900 | TSH Resources BHD | 287 | ||||||||
| 675,471 | Tsingtao Brewery Co Ltd | 7,031 | ||||||||
| 30,993 | Tsingtao Brewery Co Ltd (Class A) | 482 | ||||||||
| 69,000 | Ttet Union Corp | 352 | ||||||||
| 22,887 | Turning Point Brands, Inc | 621 | ||||||||
| 82,192 | Tyson Foods, Inc (Class A) | 7,073 | ||||||||
| 190,224 | Ulker Biskuvi Sanayi AS | 165 | ||||||||
| 1,019,616 | Uni-President China Holdings Ltd | 877 | ||||||||
| 5,493,384 | Uni-President Enterprises Corp | 12,386 | ||||||||
| 729,077 | United Malt Grp Ltd | 1,649 | ||||||||
| 110,900 | United Plantations BHD | 352 | ||||||||
| 330,877 | * | United Spirits Ltd | 3,192 | |||||||
| 19,452 | Universal Corp | 1,177 | ||||||||
| 971,420 | Universal Robina | 1,962 | ||||||||
| 175,736 | e | Utz Brands, Inc | 2,429 | |||||||
| 329,270 | Vector Group Ltd | 3,457 | ||||||||
| 6,556 | Vilmorin & Cie | 277 | ||||||||
| 541,124 | Vina Concha y Toro S.A. | 740 | ||||||||
| 23,363 | * | Vintage Wine Estates, Inc | 184 | |||||||
| 79,664 | Viscofan S.A. | 4,395 | ||||||||
| 4,266 | * | Vita Coco Co, Inc | 42 | |||||||
| 154,951 | * | Vital Farms, Inc | 1,356 | |||||||
| 81 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 964,000 | e | Vitasoy International Holdings Ltd | $ | 1,690 | ||||||
| 5,508,694 | Want Want China Holdings Ltd | 4,804 | ||||||||
| 384,000 | Wei Chuan Food Corp | 261 | ||||||||
| 456,170 | Wens Foodstuffs Group Co Ltd | 1,453 | ||||||||
| 44,729,109 | g | WH Group Ltd | 34,620 | |||||||
| 33,810 | * | Whole Earth Brands, Inc | 210 | |||||||
| 1,956,442 | Wilmar International Ltd | 5,694 | ||||||||
| 263,942 | Wuliangye Yibin Co Ltd | 7,980 | ||||||||
| 79,325 | Yakult Honsha Co Ltd | 4,575 | ||||||||
| 203,200 | Yamazaki Baking Co Ltd | 2,486 | ||||||||
| 339,407 | e | Yihai International Holding Ltd | 1,224 | |||||||
| 113,400 | * | Yihai Kerry Arawana Holdings Co Ltd | 917 | |||||||
| 85,617 | * | Yuan Longping High-tech Agriculture Co Ltd | 213 | |||||||
| 1,077,500 | e,g | Zhou Hei Ya International Holdings Co Ltd | 743 | |||||||
| 13,152 | Zydus Wellness Ltd | 273 | ||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO | 4,078,984 | |||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 4.9% | ||||||||||
| 384,043 | *,e | 1Life Healthcare, Inc | 3,011 | |||||||
| 3,846,510 | Abbott Laboratories | 417,923 | ||||||||
| 16,995 | * | Abiomed, Inc | 4,206 | |||||||
| 252,682 | * | Acadia Healthcare Co, Inc | 17,089 | |||||||
| 64,268 | * | Accolade, Inc | 476 | |||||||
| 59,258 | *,e | AdaptHealth Corp | 1,069 | |||||||
| 19,649 | * | Addus HomeCare Corp | 1,636 | |||||||
| 245,762 | Advanced Medical Solutions Group plc | 882 | ||||||||
| 173,090 | * | AGFA-Gevaert NV | 640 | |||||||
| 28,037 | *,e | Agiliti, Inc | 575 | |||||||
| 166,358 | *,e | agilon health, Inc | 3,632 | |||||||
| 217,064 | * | Aier Eye Hospital Group Co Ltd | 1,455 | |||||||
| 1,916 | *,e | AirSculpt Technologies, Inc | 11 | |||||||
| 596,000 | e,g | AK Medical Holdings Ltd | 446 | |||||||
| 94,841 | Al Hammadi Co for Development and Investment | 924 | ||||||||
| 341,390 | Alcon, Inc | 23,939 | ||||||||
| 217,300 | Alfresa Holdings Corp | 2,922 | ||||||||
| 141,657 | * | Align Technology, Inc | 33,526 | |||||||
| 387,776 | * | Alignment Healthcare, Inc | 4,425 | |||||||
| 262,465 | * | Allscripts Healthcare Solutions, Inc | 3,892 | |||||||
| 20,019 | * | Alphatec Holdings Inc | 131 | |||||||
| 104,456 | g | Ambea AB | 478 | |||||||
| 195,282 | Ambu A.S. | 1,908 | ||||||||
| 22,239 | * | Amedisys, Inc | 2,338 | |||||||
| 191,127 | * | American Well Corp | 826 | |||||||
| 169,553 | AmerisourceBergen Corp | 23,988 | ||||||||
| 60,816 | * | AMN Healthcare Services, Inc | 6,672 | |||||||
| 390,483 | e | Amplifon S.p.A. | 12,005 | |||||||
| 14,000 | * | Amvis Holdings, Inc | 392 | |||||||
| 20,870 | e | Andlauer Healthcare Group, Inc | 709 | |||||||
| 32,321 | * | Angiodynamics, Inc | 625 | |||||||
| 148,973 | Ansell Ltd | 2,290 | ||||||||
| 32,394 | * | Antares Vision S.p.A | 294 | |||||||
| 161,085 | Apollo Hospitals Enterprise Ltd | 7,537 | ||||||||
| 82 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 6,674 | *,e | Apollo Medical Holdings, Inc | $ | 258 | ||||||
| 489,526 | Arjo AB | 3,100 | ||||||||
| 34,544 | As One Corp | 1,365 | ||||||||
| 548,940 | Asahi Intecc Co Ltd | 8,311 | ||||||||
| 128,432 | *,g | Aster DM Healthcare Ltd | 290 | |||||||
| 60,469 | *,e | ATI Physical Therapy, Inc | 85 | |||||||
| 296,508 | * | AtriCure, Inc | 12,115 | |||||||
| 237 | Atrion Corp | 149 | ||||||||
| 127,772 | *,g | Attendo AB | 276 | |||||||
| 84,037 | Australian Clinical Labs Ltd | 266 | ||||||||
| 198,782 | * | Avanos Medical, Inc | 5,435 | |||||||
| 37,494 | *,e | Aveanna Healthcare Holdings, Inc | 85 | |||||||
| 9,587 | * | AxoGen, Inc | 79 | |||||||
| 240,799 | * | Axonics Modulation Technologies, Inc | 13,646 | |||||||
| 194,497 | * | Babylon Holdings Ltd | 190 | |||||||
| 1,628,200 | Bangkok Chain Hospital PCL | 862 | ||||||||
| 6,932,771 | Bangkok Dusit Medical Services PCL | 4,911 | ||||||||
| 3,700,000 | Bangkok Dusit Medical Services PCL (ADR) | 2,619 | ||||||||
| 661,757 | e | Baxter International, Inc | 42,505 | |||||||
| 252,490 | Becton Dickinson & Co | 62,246 | ||||||||
| 27,702 | * | BioLife Solutions Inc | 383 | |||||||
| 30,237 | e | BioMerieux | 2,965 | |||||||
| 27,421 | *,e | Bioventus, Inc | 187 | |||||||
| 32,545 | BML, Inc | 846 | ||||||||
| 4,044,754 | * | Boston Scientific Corp | 150,748 | |||||||
| 157,093 | * | Brookdale Senior Living, Inc | 713 | |||||||
| 339,738 | Bumrungrad Hospital PCL | 1,721 | ||||||||
| 146,616 | *,e | Butterfly Network, Inc | 450 | |||||||
| 29,597 | * | Cano Health, Inc | 130 | |||||||
| 843,411 | Cardinal Health, Inc | 44,085 | ||||||||
| 279,958 | * | Cardiovascular Systems, Inc | 4,020 | |||||||
| 48,185 | *,e | CareMax, Inc | 175 | |||||||
| 589,100 | e | Carenet, Inc | 4,004 | |||||||
| 10,686 | Carl Zeiss Meditec AG. | 1,285 | ||||||||
| 26,374 | * | Castle Biosciences, Inc | 579 | |||||||
| 18,182 | Cellavision AB | 604 | ||||||||
| 57,665 | e | Celltrion Healthcare Co Ltd | 3,061 | |||||||
| 1,412,753 | * | Centene Corp | 119,533 | |||||||
| 102,814 | * | Certara, Inc | 2,206 | |||||||
| 81,327 | * | Cerus Corp | 430 | |||||||
| 47,529 | * | Chabiotech Co Ltd | 529 | |||||||
| 177,637 | * | Change Healthcare, Inc | 4,096 | |||||||
| 10,771 | Chemed Corp | 5,056 | ||||||||
| 1,007,500 | China Resources Phoenix Healthcare Holdings Co Ltd | 654 | ||||||||
| 5,566,600 | Chularat Hospital PCL | 583 | ||||||||
| 1,022,413 | Cigna Corp | 269,426 | ||||||||
| 22,223 | Classys, Inc | 244 | ||||||||
| 959,531 | * | Cleopatra Hospital | 240 | |||||||
| 254,483 | * | Clover Health Investments Corp | 545 | |||||||
| 118,400 | CM Hospitalar S.A. | 310 | ||||||||
| 598,000 | e | C-Mer Eye Care Holdings Ltd | 376 | |||||||
| 113,312 | Cochlear Ltd | 15,557 | ||||||||
| 83 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 100,515 | Coloplast AS | $ | 11,485 | |||||||
| 3,617 | Coltene Holding AG. | 312 | ||||||||
| 667,787 | * | Community Health Systems, Inc | 2,504 | |||||||
| 31,810 | CompuGroup Medical SE & Co KgaA | 1,359 | ||||||||
| 12,477 | * | Computer Programs & Systems, Inc | 399 | |||||||
| 4,913 | Conmed Corp | 470 | ||||||||
| 1,880,375 | g | ConvaTec Group plc | 5,154 | |||||||
| 13,832 | *,e | Convey Holding Parent, Inc | 144 | |||||||
| 30,354 | Cooper Cos, Inc | 9,504 | ||||||||
| 1,553 | * | Corvel Corp | 229 | |||||||
| 89,457 | * | Covetrus, Inc | 1,856 | |||||||
| 43,494 | Craneware plc | 974 | ||||||||
| 413,308 | * | Cross Country Healthcare, Inc | 8,609 | |||||||
| 9,957 | * | CryoLife, Inc | 188 | |||||||
| 30,563 | * | CryoPort, Inc | 947 | |||||||
| 220,574 | *,e | Cue Health, Inc | 706 | |||||||
| 94,349 | *,e | Cutera, Inc | 3,538 | |||||||
| 285,684 | CVS Group plc | 5,775 | ||||||||
| 1,305,354 | CVS Health Corp | 120,954 | ||||||||
| 122,331 | *,e | CYBERDYNE, Inc | 289 | |||||||
| 41,098 | Dallah Healthcare Co | 1,216 | ||||||||
| 47,862 | * | DaVita, Inc | 3,827 | |||||||
| 22,372 | *,e | Definitive Healthcare Corp | 513 | |||||||
| 13,643 | * | Demant A.S. | 513 | |||||||
| 516,266 | *,e | dentalcorp Holdings Ltd | 4,777 | |||||||
| 7,415 | Dentium Co Ltd | 489 | ||||||||
| 64,074 | Dentsply Sirona, Inc | 2,289 | ||||||||
| 1,754,257 | * | Dexcom, Inc | 130,745 | |||||||
| 25,530 | e | DiaSorin S.p.A. | 3,357 | |||||||
| 11,879 | * | DIO Corp | 241 | |||||||
| 14,663 | * | DocGo, Inc | 105 | |||||||
| 12,751 | *,e | Doximity, Inc | 444 | |||||||
| 43,412 | g | Dr Lal PathLabs Ltd | 1,192 | |||||||
| 224,121 | Dr Sulaiman Al Habib Medical Services Group Co | 11,613 | ||||||||
| 10,458 | Draegerwerk AG. | 547 | ||||||||
| 3,463 | Draegerwerk AG. & Co KGaA | 153 | ||||||||
| 17,398 | Eckert & Ziegler Strahlen- und Medizintechnik AG. | 669 | ||||||||
| 2,112,719 | * | Edwards Lifesciences Corp | 200,898 | |||||||
| 34,800 | Eiken Chemical Co Ltd | 459 | ||||||||
| 50,445 | El.En. S.p.A | 655 | ||||||||
| 40,138 | Elan Corp | 310 | ||||||||
| 429,419 | e | Elekta AB (B Shares) | 2,976 | |||||||
| 955,257 | Elevance Health, Inc | 460,988 | ||||||||
| 47,600 | e | EM Systems Co Ltd | 338 | |||||||
| 15,081 | * | Embecta Corp | 382 | |||||||
| 68,874 | EMIS Group plc | 1,563 | ||||||||
| 68,917 | Encompass Health Corp | 3,863 | ||||||||
| 41,981 | *,e | Enovis Corp | 2,309 | |||||||
| 17,368 | Ensign Group, Inc | 1,276 | ||||||||
| 620,006 | * | Envista Holdings Corp | 23,895 | |||||||
| 24,052 | * | Eoflow Co Ltd | 359 | |||||||
| 136,161 | *,e | Establishment Labs Holdings, Inc | 7,404 | |||||||
| 84 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 407,969 | * | Evolent Health, Inc | $ | 12,529 | ||||||
| 96,991 | e | Extendicare, Inc | 517 | |||||||
| 130,911 | Fagron NV | 2,122 | ||||||||
| 138,331 | * | Figs, Inc | 1,260 | |||||||
| 325,916 | Fisher & Paykel Healthcare Corp | 4,060 | ||||||||
| 207,700 | Fleury S.A. | 647 | ||||||||
| 547,684 | * | Fortis Healthcare Ltd | 1,669 | |||||||
| 252,913 | Fresenius Medical Care AG. | 12,671 | ||||||||
| 75,455 | Fresenius SE | 2,295 | ||||||||
| 27,077 | * | Fulgent Genetics, Inc | 1,477 | |||||||
| 57,509 | g | Galenica AG. | 4,424 | |||||||
| 32,167 | Getinge AB (B Shares) | 746 | ||||||||
| 7,892 | * | Glaukos Corp | 358 | |||||||
| 22,709 | * | Globus Medical, Inc | 1,275 | |||||||
| 122,033 | GN Store Nord | 4,305 | ||||||||
| 19,538 | * | Guangzhou Kingmed Diagnostics Group Co Ltd | 241 | |||||||
| 225,721 | *,e | Guardant Health, Inc | 9,106 | |||||||
| 9,600 | * | Haemonetics Corp | 626 | |||||||
| 6,763 | * | Hanger Inc | 97 | |||||||
| 3,605,398 | g | Hapvida Participacoes e Investimentos S.A. | 3,768 | |||||||
| 1,102,382 | Hartalega Holdings BHD | 765 | ||||||||
| 507,410 | HCA Healthcare, Inc | 85,275 | ||||||||
| 726,723 | Healius Ltd | 1,842 | ||||||||
| 44,852 | * | Health Catalyst, Inc | 650 | |||||||
| 198,346 | * | HealthEquity, Inc | 12,176 | |||||||
| 19,433 | * | HealthStream, Inc | 422 | |||||||
| 98,325 | * | Henry Schein, Inc | 7,545 | |||||||
| 1,519 | * | Heska Corp | 144 | |||||||
| 30,972 | * | Hims & Hers Health, Inc | 140 | |||||||
| 94,548 | * | HLB Life Science CO Ltd | 889 | |||||||
| 25,298 | e | HLS Therapeutics, Inc | 239 | |||||||
| 29,200 | Hogy Medical Co Ltd | 648 | ||||||||
| 72,003 | * | Hologic, Inc | 4,990 | |||||||
| 99,300 | Hospital Mater Dei S.A. | 145 | ||||||||
| 546,973 | * | Hoya Corp | 46,812 | |||||||
| 68,278 | Huadong Medicine Co Ltd | 462 | ||||||||
| 256,842 | Humana, Inc | 120,220 | ||||||||
| 401,000 | *,e,g | Hygeia Healthcare Holdings Co Ltd | 2,674 | |||||||
| 6,161 | * | ICU Medical, Inc | 1,013 | |||||||
| 66,864 | * | IDEXX Laboratories, Inc | 23,451 | |||||||
| 1,276,589 | IHH Healthcare BHD | 1,868 | ||||||||
| 23,312 | *,e | Implantica AG. | 107 | |||||||
| 45,936 | * | Inari Medical, Inc | 3,123 | |||||||
| 118,243 | * | Inmode Ltd | 2,650 | |||||||
| 14,723 | *,e | Innovage Holding Corp | 64 | |||||||
| 18,200 | * | Inogen, Inc | 440 | |||||||
| 8,213 | * | Inspire Medical Systems, Inc | 1,500 | |||||||
| 60,100 | Instituto Hermes Pardini S.A. | 230 | ||||||||
| 59,937 | * | Insulet Corp | 13,063 | |||||||
| 15,580 | Intco Medical Technology Co Ltd | 59 | ||||||||
| 28,208 | * | Integer Holding Corp | 1,993 | |||||||
| 63,767 | * | Integra LifeSciences Holdings Corp | 3,445 | |||||||
| 85 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 211,511 | Integral Diagnostics Ltd | $ | 443 | |||||||
| 666,205 | *,n | Intuitive Surgical, Inc | 133,714 | |||||||
| 197,100 | *,e | Invitae Corp | 481 | |||||||
| 24,363 | Ion Beam Applications | 397 | ||||||||
| 10,054 | iRadimed Corp | 341 | ||||||||
| 13,983 | * | iRhythm Technologies, Inc | 1,511 | |||||||
| 939,000 | IVD Medical Holding Ltd | 293 | ||||||||
| 27,944 | Jafron Biomedical Co Ltd | 213 | ||||||||
| 75,000 | Japan Lifeline Co Ltd | 506 | ||||||||
| 51,188 | Jeol Ltd | 1,981 | ||||||||
| 43,350 | Jiangsu Yuyue Medical Equipment & Supply Co Ltd | 166 | ||||||||
| 949,109 | g | Jinxin Fertility Group Ltd | 875 | |||||||
| 88,300 | JMDC, Inc | 3,888 | ||||||||
| 43,729 | * | Joint Corp | 669 | |||||||
| 138,968 | Jointown Pharmaceutical Group Co Ltd | 247 | ||||||||
| 372,000 | e | Kangji Medical Holdings Ltd | 371 | |||||||
| 901,157 | Koninklijke Philips Electronics NV | 19,328 | ||||||||
| 87,882 | Korian-Medica | 1,325 | ||||||||
| 1,505,000 | Kossan Rubber Industries | 451 | ||||||||
| 2,303,100 | KPJ Healthcare BHD | 437 | ||||||||
| 33,449 | *,g | Krishna Institute of Medical Sciences Ltd | 503 | |||||||
| 65,243 | Laboratory Corp of America Holdings | 15,290 | ||||||||
| 250,958 | * | Lantheus Holdings, Inc | 16,571 | |||||||
| 5,499 | e | Le Noble Age | 194 | |||||||
| 3,104 | LeMaitre Vascular, Inc | 141 | ||||||||
| 23,113 | Lepu Medical Technology Beijing Co Ltd | 64 | ||||||||
| 23,551 | * | LHC Group, Inc | 3,668 | |||||||
| 2,159,114 | Life Healthcare Group Holdings Pte Ltd | 2,384 | ||||||||
| 58,354 | *,e | LifeStance Health Group, Inc | 324 | |||||||
| 4,494,000 | * | Lifetech Scientific Corp | 1,661 | |||||||
| 87,304 | * | LivaNova plc | 5,454 | |||||||
| 24,143 | Lutronic Corp | 320 | ||||||||
| 80,216 | M3, Inc | 2,309 | ||||||||
| 90,763 | Mani, Inc | 883 | ||||||||
| 18,324 | * | Masimo Corp | 2,394 | |||||||
| 562,960 | * | Max Healthcare Institute Ltd | 2,625 | |||||||
| 161,741 | McKesson Corp | 52,762 | ||||||||
| 8,503 | g | Medacta Group S.A. | 811 | |||||||
| 4,861 | *,g | Medartis Holding AG. | 448 | |||||||
| 151,531 | Medicare Group | 291 | ||||||||
| 210,800 | Mediceo Paltac Holdings Co Ltd | 2,974 | ||||||||
| 471,849 | * | Mediclinic International plc | 2,641 | |||||||
| 6,799,400 | Medikaloka Hermina Tbk PT | 687 | ||||||||
| 15,520 | * | Medios AG. | 429 | |||||||
| 169,600 | *,e | Medley, Inc | 3,380 | |||||||
| 206,000 | e,g | Medlive Technology Co Ltd | 304 | |||||||
| 29,910 | g | Medmix AG. | 661 | |||||||
| 71,036 | * | MEDNAX, Inc | 1,492 | |||||||
| 269,300 | * | MedPeer, Inc | 3,678 | |||||||
| 2,619,991 | Medtronic plc | 235,144 | ||||||||
| 179,508 | * | Meinian Onehealth Healthcare Holdings Co Ltd | 150 | |||||||
| 71,084 | Menicon Co Ltd | 1,639 | ||||||||
| 86 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 94,738 | * | Meridian Bioscience, Inc | $ | 2,882 | ||||||
| 200,069 | * | Merit Medical Systems, Inc | 10,858 | |||||||
| 940 | Mesa Laboratories, Inc | 192 | ||||||||
| 217 | Metall Zug AG.(B Shares) | 434 | ||||||||
| 20,857,900 | * | Metro Healthcare Indonesia TBK PT | 700 | |||||||
| 30,437 | g | Metropolis Healthcare Ltd | 543 | |||||||
| 455,895 | e | Microport Scientific Corp | 1,324 | |||||||
| 42,395 | * | Middle East Healthcare Co | 365 | |||||||
| 62,700 | Miraca Holdings, Inc | 1,363 | ||||||||
| 109,640 | *,g | MLP Saglik Hizmetleri AS. | 215 | |||||||
| 18,967 | * | ModivCare, Inc | 1,603 | |||||||
| 51,294 | * | Molina Healthcare, Inc | 14,342 | |||||||
| 174,432 | Mouwasat Medical Services Co | 9,906 | ||||||||
| 590,569 | *,e | Multiplan Corp | 3,242 | |||||||
| 22,836 | Nagaileben Co Ltd | 319 | ||||||||
| 136,022 | Nakanishi, Inc | 2,411 | ||||||||
| 298,594 | *,e | Nanosonics Ltd | 692 | |||||||
| 71,772 | *,e | Nano-X Imaging Ltd | 811 | |||||||
| 70,225 | * | Narayana Hrudayalaya Ltd | 563 | |||||||
| 10,716 | National Healthcare Corp | 749 | ||||||||
| 24,188 | National Medical Care Co | 349 | ||||||||
| 2,558 | National Research Corp | 98 | ||||||||
| 52,992 | * | Natus Medical, Inc | 1,737 | |||||||
| 112,553 | * | Neogen Corp | 2,711 | |||||||
| 1,307,059 | Network Healthcare Holdings Ltd | 1,154 | ||||||||
| 2,511 | Neuca S.A. | 450 | ||||||||
| 40,408 | * | Nevro Corp | 1,771 | |||||||
| 199,000 | *,e,g | New Horizon Health Ltd | 601 | |||||||
| 173,144 | * | NextGen Healthcare, Inc | 3,020 | |||||||
| 210,277 | Nihon Kohden Corp | 4,310 | ||||||||
| 172,352 | Nipro Corp | 1,356 | ||||||||
| 159,379 | *,† | NMC Health plc | 2 | |||||||
| 100,812 | *,e | Novocure Ltd | 7,006 | |||||||
| 5,946 | * | Nutex Health, Inc | 19 | |||||||
| 59,262 | * | NuVasive, Inc | 2,913 | |||||||
| 89,050 | *,e | Oak Street Health, Inc | 1,464 | |||||||
| 805,843 | Oceania Healthcare Ltd | 467 | ||||||||
| 984,470 | Odontoprev S.A. | 1,759 | ||||||||
| 1,162,438 | Olympus Corp | 23,557 | ||||||||
| 106,495 | *,e | Omnicell, Inc | 12,114 | |||||||
| 172,300 | * | Oncoclinicas do Brasil Servicos Medicos S.A. | 150 | |||||||
| 2,869 | * | Oncology Institute, Inc | 15 | |||||||
| 339,619 | *,e | Opko Health, Inc | 859 | |||||||
| 3,279 | * | OptimizeRx Corp | 90 | |||||||
| 869,231 | * | Option Care Health, Inc | 24,156 | |||||||
| 65,512 | * | OraSure Technologies, Inc | 178 | |||||||
| 130,251 | Oriola-KD Oyj (B Shares) | 259 | ||||||||
| 64,004 | e | Orpea | 1,570 | |||||||
| 31,714 | * | Orthofix Medical Inc | 747 | |||||||
| 2,282 | *,e | OrthoPediatrics Corp | 98 | |||||||
| 7,519 | * | Outset Medical, Inc | 112 | |||||||
| 24,066 | Ovctek China, Inc | 206 | ||||||||
| 87 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 139,138 | Owens & Minor, Inc | $ | 4,376 | |||||||
| 3,177 | * | Owlet, Inc | 5 | |||||||
| 3,936 | *,e | P3 Health Partners, Inc | 15 | |||||||
| 7,116 | *,e | Paragon 28, Inc | 113 | |||||||
| 46,644 | Paramount Bed Holdings Co Ltd | 758 | ||||||||
| 320,124 | Patterson Cos, Inc | 9,700 | ||||||||
| 36,000 | Pegavision Corp | 506 | ||||||||
| 820,000 | *,g | Peijia Medical Ltd | 812 | |||||||
| 4,547 | * | Pennant Group, Inc | 58 | |||||||
| 13,547 | * | Penumbra, Inc | 1,687 | |||||||
| 78,029 | *,e | PetIQ, Inc | 1,310 | |||||||
| 4,768 | Pharmagest Inter@ctive | 381 | ||||||||
| 145,400 | * | PHC Holdings Corp | 1,373 | |||||||
| 89,400 | * | Phreesia, Inc | 2,236 | |||||||
| 79,000 | *,† | Pihsiang Machinery Manufacturing Co Ltd | 0 | ^ | ||||||
| 23,620 | Poly Medicure Ltd | 225 | ||||||||
| 716,414 | *,e | PolyNovo Ltd | 670 | |||||||
| 148,662 | Premier, Inc | 5,304 | ||||||||
| 258,184 | *,e | Privia Health Group, Inc | 7,518 | |||||||
| 136,859 | e | Pro Medicus Ltd | 4,000 | |||||||
| 4,001 | *,e | PROCEPT BioRobotics Corp | 131 | |||||||
| 89,754 | * | Progyny, Inc | 2,607 | |||||||
| 393,459 | * | Project Roadrunner Parent, Inc | 8,247 | |||||||
| 4,160,700 | PT Siloam International Hospitals Tbk | 279 | ||||||||
| 5,244 | *,e | Pulmonx Corp | 77 | |||||||
| 165,800 | Qualicorp S.A. | 353 | ||||||||
| 82,190 | Quest Diagnostics, Inc | 10,930 | ||||||||
| 59,742 | * | QuidelOrtho Corp | 5,806 | |||||||
| 7,688 | * | RadNet, Inc | 133 | |||||||
| 1,444,499 | Raffles Medical Group Ltd | 1,165 | ||||||||
| 163,340 | Ramsay Health Care Ltd | 8,273 | ||||||||
| 370,100 | g | Rede D’Or Sao Luiz S.A. | 2,049 | |||||||
| 55,782 | Resmed, Inc | 11,694 | ||||||||
| 28,746 | Revenio Group Oyj | 1,284 | ||||||||
| 515,600 | Riverstone Holdings Ltd | 275 | ||||||||
| 3,725 | *,e | RxSight, Inc | 52 | |||||||
| 493,480 | e | Ryman Healthcare Ltd | 2,740 | |||||||
| 32,973 | Sartorius AG. | 11,572 | ||||||||
| 48,601 | Saudi Chemical Co | 394 | ||||||||
| 22,089 | * | Schrodinger, Inc | 583 | |||||||
| 42,464 | SD Biosensor, Inc | 1,273 | ||||||||
| 31,067 | * | SeaSpine Holdings Corp | 176 | |||||||
| 159,333 | e | Sectra AB | 2,142 | |||||||
| 82,840 | *,e | Sedana Medical AB | 219 | |||||||
| 398,029 | Select Medical Holdings Corp | 9,401 | ||||||||
| 347,479 | * | Sema4 Holdings Corp | 438 | |||||||
| 769,556 | *,e | Senseonics Holdings, Inc | 793 | |||||||
| 1,723,882 | Shandong Weigao Group Medical Polymer Co Ltd | 2,013 | ||||||||
| 145,832 | Shanghai Pharmaceuticals Holding Co Ltd - A | 394 | ||||||||
| 640,927 | Shanghai Pharmaceuticals Holding Co Ltd - H | 1,064 | ||||||||
| 49,614 | * | Sharecare, Inc | 78 | |||||||
| 50,222 | Shenzhen Mindray Bio-Medical Electronics Co Ltd | 2,355 | ||||||||
| 88 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 44,000 | Shenzhen New Industries Biomedical Engineering Co Ltd | $ | 297 | |||||||
| 254,436 | Ship Healthcare Holdings, Inc | 4,541 | ||||||||
| 71,180 | * | Shockwave Medical Inc | 13,607 | |||||||
| 6,746 | * | SI-BONE, Inc | 89 | |||||||
| 424,825 | g | Siemens Healthineers AG. | 21,660 | |||||||
| 73,699 | e | Sienna Senior Living, Inc | 744 | |||||||
| 17,048 | *,e | Sight Sciences, Inc | 153 | |||||||
| 1,167,065 | e | Sigma Healthcare Ltd | 468 | |||||||
| 58,878 | *,e | Signify Health, Inc | 813 | |||||||
| 5,410 | * | Silk Road Medical Inc | 197 | |||||||
| 2,819 | e | Simulations Plus, Inc | 139 | |||||||
| 997,387 | Sinopharm Group Co | 2,415 | ||||||||
| 177,200 | e,g | Sisram Medical Ltd | 305 | |||||||
| 1,057,154 | Smith & Nephew plc | 14,784 | ||||||||
| 65,600 | Solasto Corp | 354 | ||||||||
| 497,827 | Sonic Healthcare Ltd | 11,347 | ||||||||
| 66,324 | Sonova Holdings AG | 21,196 | ||||||||
| 321,593 | *,g | Spire Healthcare Group plc | 920 | |||||||
| 1,145,900 | Sri Trang Gloves Thailand PCL | 529 | ||||||||
| 53,000 | St. Shine Optical Co Ltd | 470 | ||||||||
| 48,865 | * | Staar Surgical Co | 3,466 | |||||||
| 138,770 | STERIS plc | 28,607 | ||||||||
| 9,539 | STRATEC Biomedical AG. | 876 | ||||||||
| 132,461 | Straumann Holding AG. | 15,957 | ||||||||
| 399,662 | Stryker Corp | 79,505 | ||||||||
| 8,874 | Suheung Capsule Co Ltd | 224 | ||||||||
| 268,730 | Summerset Group Holdings Ltd | 1,610 | ||||||||
| 1,882,801 | Supermax Corp BHD | 374 | ||||||||
| 253,302 | * | Surgery Partners, Inc | 7,325 | |||||||
| 39,023 | * | Surgical Science Sweden AB | 584 | |||||||
| 2,483 | * | SurModics, Inc | 92 | |||||||
| 173,400 | Suzuken Co Ltd | 4,888 | ||||||||
| 129,224 | Synlab AG. | 2,251 | ||||||||
| 183,913 | Sysmex Corp | 11,097 | ||||||||
| 48,820 | * | Tactile Systems Technology, Inc | 356 | |||||||
| 60,000 | TaiDoc Technology Corp | 392 | ||||||||
| 203,243 | * | Tandem Diabetes Care, Inc | 12,030 | |||||||
| 114,484 | *,e | Teladoc, Inc | 3,802 | |||||||
| 13,582 | Teleflex, Inc | 3,339 | ||||||||
| 251,885 | * | Tenet Healthcare Corp | 13,239 | |||||||
| 852,956 | Terumo Corp | 25,803 | ||||||||
| 491,080 | Thonburi Healthcare Group PCL | 855 | ||||||||
| 19,177 | g | Thyrocare Technologies Ltd | 151 | |||||||
| 63,230 | Toho Pharmaceutical Co Ltd | 979 | ||||||||
| 27,209 | Tokai Corp (GIFU) | 334 | ||||||||
| 3,684,086 | Top Glove Corp BHD | 871 | ||||||||
| 12,080 | * | Topchoice Medical Corp | 316 | |||||||
| 42,838 | * | Transmedics Group, Inc | 1,347 | |||||||
| 36,128 | *,e | Treace Medical Concepts, Inc | 518 | |||||||
| 1,455 | * | UFP Technologies, Inc | 116 | |||||||
| 269,178 | Uniphar plc | 817 | ||||||||
| 2,066,245 | UnitedHealth Group, Inc | 1,061,285 | ||||||||
| 89 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 46,669 | Universal Health Services, Inc (Class B) | $ | 4,700 | |||||||
| 45,000 | Universal Vision Biotechnology Co Ltd | 432 | ||||||||
| 2,056 | US Physical Therapy, Inc | 225 | ||||||||
| 787 | Utah Medical Products, Inc | 68 | ||||||||
| 7,833 | Value Added Technologies Co Ltd | 186 | ||||||||
| 32,250 | * | Varex Imaging Corp | 690 | |||||||
| 514,698 | * | Veeva Systems, Inc | 101,931 | |||||||
| 306,000 | *,e,g | Venus MedTech Hangzhou, Inc | 684 | |||||||
| 6,383,600 | Vibhavadi Medical Center PCL (Foreign) | 441 | ||||||||
| 8,366 | * | Vicarious Surgical, Inc | 25 | |||||||
| 1,487,209 | * | ViewRay, Inc | 3,941 | |||||||
| 46,530 | * | Vijaya Diagnostic Centre Pvt Ltd | 197 | |||||||
| 151,579 | *,e | Vimian Group AB | 727 | |||||||
| 225,673 | *,e | Well Health Technologies Corp | 538 | |||||||
| 107,572 | * | Winning Health Technology Group Co Ltd | 141 | |||||||
| 178,782 | * | Xvivo Perfusion AB | 3,749 | |||||||
| 344,800 | *,g | Yidu Tech, Inc | 412 | |||||||
| 4,386 | Ypsomed Holding AG. | 596 | ||||||||
| 710,079 | Zimmer Biomet Holdings, Inc | 74,601 | ||||||||
| 55,535 | * | Zimvie, Inc | 889 | |||||||
| 5,250 | e | Zynex Inc | 42 | |||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 5,208,815 | |||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 1.4% | ||||||||||
| 12,213 | Aekyung Industrial Co Ltd | 134 | ||||||||
| 151,523 | Amorepacific Corp | 15,230 | ||||||||
| 27,670 | *,e | Beauty Health Co | 356 | |||||||
| 304,323 | Beiersdorf AG. | 31,229 | ||||||||
| 768,673 | * | BellRing Brands, Inc | 19,132 | |||||||
| 1,239,982 | *,†,e | Best World International Ltd | 607 | |||||||
| 19,257 | Blackmores Ltd | 937 | ||||||||
| 74,997 | By-health Co Ltd | 243 | ||||||||
| 5,805 | * | Central Garden & Pet Co | 246 | |||||||
| 34,597 | * | Central Garden and Pet Co (Class A) | 1,384 | |||||||
| 57,000 | Chlitina Holding Ltd | 372 | ||||||||
| 226,603 | Church & Dwight Co, Inc | 20,997 | ||||||||
| 49,230 | Clorox Co | 6,940 | ||||||||
| 1,161,688 | Colgate-Palmolive Co | 93,098 | ||||||||
| 140,372 | Colgate-Palmolive India Ltd | 2,646 | ||||||||
| 9,842 | Cosmax, Inc | 429 | ||||||||
| 362,143 | * | Coty, Inc | 2,901 | |||||||
| 708,046 | Dabur India Ltd | 4,454 | ||||||||
| 19,430 | Earth Chemical Co Ltd | 745 | ||||||||
| 44,120 | Edgewell Personal Care Co | 1,523 | ||||||||
| 742,734 | * | elf Beauty, Inc | 22,787 | |||||||
| 256,456 | Emami Ltd | 1,368 | ||||||||
| 35,741 | Energizer Holdings, Inc | 1,013 | ||||||||
| 273,110 | Essity AB | 7,139 | ||||||||
| 613,628 | Estee Lauder Cos (Class A) | 156,273 | ||||||||
| 121,300 | *,e | Euglena Co Ltd | 840 | |||||||
| 170,884 | Fancl Corp | 3,141 | ||||||||
| 9,437 | Gillette India Ltd | 597 | ||||||||
| 90 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 435,818 | * | Godrej Consumer Products Ltd | $ | 4,194 | ||||||
| 147,000 | Grape King Industrial Co | 660 | ||||||||
| 738,636 | Hengan International Group Co Ltd | 3,477 | ||||||||
| 116,289 | Henkel KGaA | 7,145 | ||||||||
| 180,303 | Henkel KGaA (Preference) | 11,157 | ||||||||
| 39,674 | * | Herbalife Nutrition Ltd | 811 | |||||||
| 934,841 | Hindustan Lever Ltd | 26,506 | ||||||||
| 57,777 | * | Honest Co, Inc | 169 | |||||||
| 40,233 | *,e | Hyundai Bioscience Co Ltd | 681 | |||||||
| 17,811,400 | Industri Jamu Dan Farmasi Sido Muncul Tbk PT | 1,196 | ||||||||
| 31,344 | e | Inter Parfums S.A. | 1,493 | |||||||
| 3,230 | Inter Parfums, Inc | 236 | ||||||||
| 51,954 | e,g | Jamieson Wellness, Inc | 1,445 | |||||||
| 143,997 | Jyothy Laboratories Ltd | 274 | ||||||||
| 522,869 | Kao Corp | 21,202 | ||||||||
| 228,481 | Kimberly-Clark Corp | 30,879 | ||||||||
| 1,657,118 | e | Kimberly-Clark de Mexico S.A. de C.V. (Class A) | 2,244 | |||||||
| 9,660 | Kobayashi Pharmaceutical Co Ltd | 598 | ||||||||
| 14,991 | Kolmar BNH Co Ltd | 312 | ||||||||
| 15,160 | Kolmar Korea Co Ltd | 447 | ||||||||
| 27,168 | e | Kose Corp | 2,476 | |||||||
| 10,647 | LG Household & Health Care Ltd | 5,594 | ||||||||
| 2,454 | LG Household & Health Care Ltd (Preference) | 618 | ||||||||
| 376,200 | Lion Corp | 4,165 | ||||||||
| 357,389 | L’Oreal S.A. | 124,087 | ||||||||
| 41,072 | Mandom Corp | 484 | ||||||||
| 24,919 | Medifast, Inc | 4,498 | ||||||||
| 375,000 | * | Microbio Co Ltd | 709 | |||||||
| 49,498 | Milbon Co Ltd | 1,746 | ||||||||
| 978,664 | Natura & Co Holding S.A. | 2,510 | ||||||||
| 9,566 | * | Nature’s Sunshine Products, Inc | 102 | |||||||
| 18,800 | Noevir Holdings Co Ltd | 799 | ||||||||
| 27,396 | Nu Skin Enterprises, Inc (Class A) | 1,186 | ||||||||
| 85,293 | *,e | Olaplex Holdings, Inc | 1,202 | |||||||
| 76,573 | *,e | Ontex Group NV | 601 | |||||||
| 35,456 | Pacific Corp | 1,022 | ||||||||
| 3,546 | Pharmanutra S.p.A | 224 | ||||||||
| 137,800 | e | Pigeon Corp | 1,896 | |||||||
| 335,300 | e | Pola Orbis Holdings, Inc | 4,150 | |||||||
| 3,995,059 | Procter & Gamble Co | 574,450 | ||||||||
| 5,877 | Proya Cosmetics Co Ltd | 145 | ||||||||
| 8,831,610 | PT Unilever Indonesia Tbk | 2,832 | ||||||||
| 517,047 | PZ Cussons plc | 1,243 | ||||||||
| 1,168,597 | Reckitt Benckiser Group plc | 87,893 | ||||||||
| 42,609 | e | Reynolds Consumer Products, Inc | 1,162 | |||||||
| 110,545 | Rohto Pharmaceutical Co Ltd | 3,205 | ||||||||
| 52,123 | Sarantis S.A. | 360 | ||||||||
| 822,426 | Shiseido Co Ltd | 33,150 | ||||||||
| 165,597 | Spectrum Brands Holdings, Inc | 13,582 | ||||||||
| 100,000 | TCI Co Ltd | 522 | ||||||||
| 2,398 | * | Thorne HealthTech, Inc | 12 | |||||||
| 373,699 | Uni-Charm Corp | 12,540 | ||||||||
| 91 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 2,783,455 | Unilever plc | $ | 126,869 | |||||||
| 8,316 | Unilever plc | 378 | ||||||||
| 2,178 | * | USANA Health Sciences, Inc | 158 | |||||||
| 149,186 | *,e | Veru, Inc | 1,686 | |||||||
| 426,536 | e | Vinda International Holdings Ltd | 1,094 | |||||||
| 8,021 | e | WD-40 Co | 1,615 | |||||||
| 33,500 | YA-MAN Ltd | 427 | ||||||||
| 16,700 | Yunnan Botanee Bio-Technology Group Co Ltd | 543 | ||||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS | 1,533,822 | |||||||||
| INSURANCE - 2.9% | ||||||||||
| 25,668 | Admiral Group plc | 703 | ||||||||
| 1,967,119 | Aegon NV | 8,472 | ||||||||
| 605,185 | Aflac, Inc | 33,485 | ||||||||
| 23,232 | Ageas | 1,024 | ||||||||
| 13,646,322 | AIA Group Ltd | 149,107 | ||||||||
| 20,645 | * | Al Rajhi Co for Co-operative Insurance | 392 | |||||||
| 12,413 | * | Alleghany Corp | 10,341 | |||||||
| 261,165 | Allianz AG. | 50,068 | ||||||||
| 606,535 | Allstate Corp | 76,866 | ||||||||
| 1,032,866 | Alm Brand AS | 1,522 | ||||||||
| 39,196 | * | AMBAC Financial Group, Inc | 445 | |||||||
| 173,405 | American Equity Investment Life Holding Co | 6,341 | ||||||||
| 88,732 | American Financial Group, Inc | 12,317 | ||||||||
| 4,688,684 | American International Group, Inc | 239,732 | ||||||||
| 23,485 | Amerisafe, Inc | 1,221 | ||||||||
| 90,800 | Anicom Holdings, Inc | 434 | ||||||||
| 231,518 | Aon plc | 62,436 | ||||||||
| 540,446 | * | Arch Capital Group Ltd | 24,585 | |||||||
| 26,819 | Argo Group International Holdings Ltd | 989 | ||||||||
| 189,644 | Arthur J. Gallagher & Co | 30,920 | ||||||||
| 232,526 | ASR Nederland NV | 9,375 | ||||||||
| 400,167 | Assicurazioni Generali S.p.A. | 6,392 | ||||||||
| 50,017 | Assurant, Inc | 8,645 | ||||||||
| 56,791 | Assured Guaranty Ltd | 3,168 | ||||||||
| 101,273 | AUB Group Ltd | 1,241 | ||||||||
| 3,587,800 | * | Aviva plc | 17,574 | |||||||
| 1,982,676 | AXA S.A. | 45,287 | ||||||||
| 150,091 | Axis Capital Holdings Ltd | 8,569 | ||||||||
| 6,262 | Baloise Holding AG. | 1,025 | ||||||||
| 1,158,100 | Bangkok Life Assurance PCL | 1,318 | ||||||||
| 706,100 | Bangkok Life Assurance PCL (ADR) | 804 | ||||||||
| 814,546 | BB Seguridade Participacoes S.A. | 4,040 | ||||||||
| 2,776,177 | Beazley plc | 16,928 | ||||||||
| 1,717,533 | *,e | Bright Health Group, Inc | 3,126 | |||||||
| 62,055 | * | Brighthouse Financial, Inc | 2,545 | |||||||
| 10,181 | Brookfield Asset Management Reinsurance Partners Ltd | 453 | ||||||||
| 307,953 | Brown & Brown, Inc | 17,966 | ||||||||
| 224,690 | * | BRP Group, Inc | 5,426 | |||||||
| 66,247 | * | Bupa Arabia for Cooperative Insurance Co | 2,812 | |||||||
| 9,066,807 | Cathay Financial Holding Co Ltd | 15,526 | ||||||||
| 11,068,435 | China Development Financial Holding Corp | 5,481 | ||||||||
| 92 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,913,132 | China Insurance International Holdings Co Ltd | $ | 2,363 | |||||||
| 14,508,790 | China Life Insurance Co Ltd | 25,329 | ||||||||
| 206,875 | China Life Insurance Co Ltd (Class A) | 963 | ||||||||
| 542,300 | * | China Pacific Insurance Group Co Ltd - A | 1,911 | |||||||
| 3,128,409 | China Pacific Insurance Group Co Ltd - H | 7,683 | ||||||||
| 1,518,116 | Chubb Ltd | 298,431 | ||||||||
| 127,799 | Cincinnati Financial Corp | 15,205 | ||||||||
| 73,434 | * | Clal Insurance | 1,314 | |||||||
| 21,245 | CNA Financial Corp | 954 | ||||||||
| 69,929 | * | Co for Cooperative Insurance | 1,076 | |||||||
| 174,078 | Conseco, Inc | 3,149 | ||||||||
| 3,630,000 | *,†,e | Convoy Global Holdings Ltd | 5 | |||||||
| 24,689 | Crawford & Co | 193 | ||||||||
| 1,121,062 | Dai-ichi Mutual Life Insurance Co | 20,734 | ||||||||
| 148,763 | e | Definity Financial Corp | 3,845 | |||||||
| 390,800 | Dhipaya Group Holdings PCL | 677 | ||||||||
| 1,541,183 | Direct Line Insurance Group plc | 4,731 | ||||||||
| 555,769 | * | Discovery Holdings Ltd | 4,396 | |||||||
| 13,941 | Donegal Group, Inc (Class A) | 238 | ||||||||
| 54,155 | Dongbu Insurance Co Ltd | 2,566 | ||||||||
| 18,359 | * | eHealth, Inc | 171 | |||||||
| 23,063 | Employers Holdings, Inc | 966 | ||||||||
| 9,390 | * | Enstar Group Ltd | 2,009 | |||||||
| 22,353 | Erie Indemnity Co (Class A) | 4,296 | ||||||||
| 239,468 | Everest Re Group Ltd | 67,118 | ||||||||
| 31,497 | Fairfax Financial Holdings Ltd | 16,691 | ||||||||
| 215,766 | Fidelity National Financial Inc | 7,975 | ||||||||
| 84,593 | First American Financial Corp | 4,477 | ||||||||
| 8,527,124 | Fubon Financial Holding Co Ltd | 17,151 | ||||||||
| 421,069 | * | Genworth Financial, Inc (Class A) | 1,486 | |||||||
| 200,726 | Gjensidige Forsikring BA | 4,086 | ||||||||
| 185,071 | Globe Life, Inc | 18,039 | ||||||||
| 5,424 | e | Goosehead Insurance, Inc | 248 | |||||||
| 350,625 | e | Great-West Lifeco, Inc | 8,561 | |||||||
| 22,209 | * | Greenlight Capital Re Ltd (Class A) | 172 | |||||||
| 49,798 | Grupo Catalana Occidente S.A. | 1,557 | ||||||||
| 8,454 | Hannover Rueckversicherung AG. | 1,233 | ||||||||
| 28,682 | Hanover Insurance Group, Inc | 4,195 | ||||||||
| 1,529,513 | Hanwha Life Insurance Co Ltd | 2,626 | ||||||||
| 234,569 | Harel Insurance Investments & Finances Ltd | 2,297 | ||||||||
| 1,072,704 | Hartford Financial Services Group, Inc | 70,187 | ||||||||
| 1,399 | e | HCI Group, Inc | 95 | |||||||
| 1,078,149 | g | HDFC Life Insurance Co Ltd | 7,528 | |||||||
| 62,433 | Helvetia Holding AG. | 7,332 | ||||||||
| 206,122 | * | Hippo Holdings, Inc | 181 | |||||||
| 403,725 | Hiscox Ltd | 4,631 | ||||||||
| 33,696 | Horace Mann Educators Corp | 1,293 | ||||||||
| 161,711 | Hyundai Marine & Fire Insurance Co Ltd | 3,865 | ||||||||
| 135,162 | iA Financial Corp, Inc | 6,722 | ||||||||
| 271,990 | g | ICICI Lombard General Insurance Co Ltd | 3,873 | |||||||
| 394,888 | g | ICICI Prudential Life Insurance Co Ltd | 2,454 | |||||||
| 10,220 | IDI Insurance Co Ltd | 267 | ||||||||
| 93 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 3,595,393 | Insurance Australia Group Ltd | $ | 10,842 | |||||||
| 218,984 | Intact Financial Corp | 30,888 | ||||||||
| 900 | Investors Title Co | 141 | ||||||||
| 1,082,700 | * | IRB Brasil Resseguros S | 420 | |||||||
| 30,666 | James River Group Holdings Ltd | 760 | ||||||||
| 2,688,600 | Japan Post Holdings Co Ltd | 19,237 | ||||||||
| 146,600 | Japan Post Insurance Co Ltd | 2,346 | ||||||||
| 1,231,999 | Just Retirement Group plc | 1,073 | ||||||||
| 50,930 | Kemper Corp | 2,440 | ||||||||
| 28,487 | Kinsale Capital Group, Inc | 6,542 | ||||||||
| 94,939 | Korean Reinsurance Co | 615 | ||||||||
| 287,278 | Lancashire Holdings Ltd | 1,412 | ||||||||
| 4,707,973 | Legal & General Group plc | 13,764 | ||||||||
| 34,437 | *,e | Lemonade, Inc | 629 | |||||||
| 355,278 | * | Life Insurance Corp of India | 3,032 | |||||||
| 145,016 | Lincoln National Corp | 6,782 | ||||||||
| 769,758 | e | Linea Directa Aseguradora S.A. Cia de Seguros y Reaseguros | 1,016 | |||||||
| 167,284 | Loews Corp | 9,913 | ||||||||
| 2,440,388 | Manulife Financial Corp | 42,316 | ||||||||
| 1,068,345 | Mapfre S.A. | 1,889 | ||||||||
| 11,020 | * | Markel Corp | 14,252 | |||||||
| 1,579,985 | Marsh & McLennan Cos, Inc | 245,293 | ||||||||
| 258,949 | * | Max Financial Services Ltd | 2,572 | |||||||
| 41,862 | * | MBIA, Inc | 517 | |||||||
| 4,210,799 | Medibank Pvt Ltd | 9,471 | ||||||||
| 28,705 | * | Menorah Mivtachim Holdings Ltd | 529 | |||||||
| 389,000 | Mercuries & Associates Holding Ltd | 256 | ||||||||
| 4,347,801 | * | Mercuries Life Insurance Co Lt | 1,045 | |||||||
| 30,081 | Mercury General Corp | 1,333 | ||||||||
| 41,728 | Meritz Fire & Marine Insurance Co Ltd | 1,069 | ||||||||
| 2,471,709 | Metlife, Inc | 155,199 | ||||||||
| 488,013 | Migdal Insurance Holdings Ltd | 729 | ||||||||
| 61,500 | Mirae Asset Life Insurance Co Ltd | 147 | ||||||||
| 1,360,417 | Momentum Metropolitan Holdings | 1,193 | ||||||||
| 322,826 | MS&AD Insurance Group Holdings Inc | 9,899 | ||||||||
| 51,084 | Muenchener Rueckver AG. | 12,084 | ||||||||
| 1,976 | National Western Life Group, Inc | 401 | ||||||||
| 181,365 | New China Life Insurance Co Ltd - A | 874 | ||||||||
| 1,136,965 | New China Life insurance Co Ltd - H | 3,200 | ||||||||
| 7,074 | * | NI Holdings, Inc | 116 | |||||||
| 536,022 | nib holdings Ltd | 2,732 | ||||||||
| 372,133 | NN Group NV | 16,855 | ||||||||
| 5,463,190 | e | Old Mutual Ltd | 3,703 | |||||||
| 380,354 | Old Republic International Corp | 8,505 | ||||||||
| 95,505 | * | Oscar Health, Inc | 406 | |||||||
| 25,924 | * | Palomar Holdings, Inc | 1,669 | |||||||
| 158,429 | * | PB Fintech Ltd | 1,153 | |||||||
| 11,014,388 | People’s Insurance Co Group of China Ltd | 3,372 | ||||||||
| 977,715 | People’s Insurance Co Group of China Ltd (Class A) | 740 | ||||||||
| 979,494 | Phoenix Group Holdings plc | 7,057 | ||||||||
| 177,078 | Phoenix Holdings Ltd | 1,758 | ||||||||
| 8,149,556 | PICC Property & Casualty Co Ltd | 8,498 | ||||||||
| 94 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 9,014,476 | Ping An Insurance Group Co of China Ltd | $ | 62,049 | |||||||
| 2,997,350 | Ping An Insurance Group Co of China Ltd (Class A) | 20,962 | ||||||||
| 411,443 | g | Poste Italiane S.p.A | 3,850 | |||||||
| 701,716 | Power Corp Of Canada | 18,055 | ||||||||
| 690,955 | Powszechny Zaklad Ubezpieczen S.A. | 4,632 | ||||||||
| 31,389 | Primerica, Inc | 3,757 | ||||||||
| 205,372 | Principal Financial Group | 13,717 | ||||||||
| 45,173 | ProAssurance Corp | 1,067 | ||||||||
| 669,129 | Progressive Corp | 77,800 | ||||||||
| 85,528 | Protector Forsikring ASA | 889 | ||||||||
| 307,646 | Prudential Financial, Inc | 29,436 | ||||||||
| 1,254,980 | Prudential plc | 15,611 | ||||||||
| 14,952,900 | * | PT Panin Life Tbk | 430 | |||||||
| 1,931,674 | Qatar Insurance Co SAQ | 1,275 | ||||||||
| 1,997,369 | QBE Insurance Group Ltd | 16,784 | ||||||||
| 231,400 | e | Qualitas Controladora SAB de C.V. | 1,065 | |||||||
| 919,637 | Rand Merchant Investment Holdings Ltd | 1,574 | ||||||||
| 54,309 | Reinsurance Group of America, Inc (Class A) | 6,370 | ||||||||
| 64,942 | RenaissanceRe Holdings Ltd | 10,155 | ||||||||
| 6,655 | RLI Corp | 776 | ||||||||
| 115,277 | * | Root, Inc | 137 | |||||||
| 14,066 | * | Ryan Specialty Group Holdings, Inc | 551 | |||||||
| 306,521 | g | Sabre Insurance Group plc | 767 | |||||||
| 11,902 | Safety Insurance Group, Inc | 1,156 | ||||||||
| 137,711 | * | Saga plc | 299 | |||||||
| 275,015 | Sampo Oyj (A Shares) | 12,018 | ||||||||
| 36,312 | Samsung Fire & Marine Insurance Co Ltd | 5,642 | ||||||||
| 91,218 | Samsung Life Insurance Co Ltd | 4,408 | ||||||||
| 2,011,444 | Sanlam Ltd | 6,538 | ||||||||
| 52,877 | Santam Ltd | 818 | ||||||||
| 504,839 | g | SBI Life Insurance Co Ltd | 6,933 | |||||||
| 185,126 | SCOR SE | 3,987 | ||||||||
| 58,957 | Selective Insurance Group, Inc | 5,126 | ||||||||
| 116,848 | * | Selectquote, Inc | 290 | |||||||
| 15,001,866 | Shin Kong Financial Holding Co Ltd | 4,422 | ||||||||
| 211,000 | Shinkong Insurance Co Ltd | 368 | ||||||||
| 75,398 | * | SiriusPoint Ltd | 409 | |||||||
| 989,120 | Sompo Holdings, Inc | 43,687 | ||||||||
| 1,529,829 | Steadfast Group Ltd | 5,323 | ||||||||
| 22,530 | Stewart Information Services Corp | 1,121 | ||||||||
| 552,187 | Storebrand ASA | 3,970 | ||||||||
| 333,400 | Sul America S.A. | 1,408 | ||||||||
| 735,826 | Sun Life Financial, Inc | 33,716 | ||||||||
| 1,399,532 | Suncorp-Metway Ltd | 10,672 | ||||||||
| 19,056 | Swiss Life Holding | 9,302 | ||||||||
| 44,726 | Swiss Re Ltd | 3,472 | ||||||||
| 254,000 | Syarikat Takaful Malaysia BHD | 186 | ||||||||
| 1,558,565 | T&D Holdings, Inc | 18,657 | ||||||||
| 39,875 | Tiptree Inc | 423 | ||||||||
| 760,499 | Tokio Marine Holdings, Inc | 44,346 | ||||||||
| 53,554 | Tongyang Life Insurance Co Ltd | 236 | ||||||||
| 88,990 | Topdanmark AS | 4,632 | ||||||||
| 95 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 730,200 | TQM Corp PCL | $ | 1,023 | |||||||
| 216,330 | Travelers Cos, Inc | 36,588 | ||||||||
| 40,505 | * | Trean Insurance Group, Inc | 252 | |||||||
| 47,940 | *,e | Trisura Group Ltd | 1,241 | |||||||
| 6,343 | *,e | Trupanion, Inc | 382 | |||||||
| 50,389 | Tryg A.S. | 1,135 | ||||||||
| 459,604 | Unipol Gruppo Finanziario S.p.A | 2,093 | ||||||||
| 187,241 | Uniqa Versicherungen AG. | 1,329 | ||||||||
| 18,495 | United Fire Group Inc | 633 | ||||||||
| 19,058 | Universal Insurance Holdings, Inc | 248 | ||||||||
| 179,128 | Unum Group | 6,094 | ||||||||
| 50,849 | Vienna Insurance Group AG Wiener Versicherung Gruppe | 1,163 | ||||||||
| 341,327 | W.R. Berkley Corp | 23,299 | ||||||||
| 4,278 | White Mountains Insurance Group Ltd | 5,331 | ||||||||
| 103,965 | Willis Towers Watson plc | 20,522 | ||||||||
| 29,089 | Wuestenrot & Wuerttembergische AG. | 516 | ||||||||
| 530,105 | *,e,g | ZhongAn Online P&C Insurance Co Ltd | 1,731 | |||||||
| 391,852 | Zurich Insurance Group AG | 170,876 | ||||||||
| TOTAL INSURANCE | 3,031,060 | |||||||||
| MATERIALS - 4.7% | ||||||||||
| 335,049 | * | 29Metals Ltd | 403 | |||||||
| 292,411 | * | 5E Advanced Materials, Inc | 370 | |||||||
| 5,962 | * | 5E Advanced Materials, Inc | 73 | |||||||
| 240,121 | Aarti Industries | 2,133 | ||||||||
| 237,365 | *,e | Acerinox S.A. | 2,305 | |||||||
| 8,822,400 | * | ADARO MINERALS INDONESIA TBK PT | 936 | |||||||
| 91,638 | ADEKA Corp | 1,584 | ||||||||
| 422,975 | Adelaide Brighton Ltd | 709 | ||||||||
| 45,110 | Advanced Enzyme Technologies Ltd | 153 | ||||||||
| 8,708 | Advanced Nano Products Co Ltd | 471 | ||||||||
| 147,330 | Advanced Petrochemical Co | 2,020 | ||||||||
| 17,128 | AdvanSix, Inc | 573 | ||||||||
| 118,821 | Aeci Ltd | 697 | ||||||||
| 114,411 | African Rainbow Minerals Ltd | 1,503 | ||||||||
| 555,084 | Agnico-Eagle Mines Ltd | 25,408 | ||||||||
| 61,352 | Aica Kogyo Co Ltd | 1,284 | ||||||||
| 608,987 | Air Liquide | 81,971 | ||||||||
| 187,248 | Air Products & Chemicals, Inc | 45,029 | ||||||||
| 215,300 | Air Water, Inc | 2,713 | ||||||||
| 21,641 | e | AirBoss of America Corp | 261 | |||||||
| 7,443 | Akzo Nobel India Ltd | 178 | ||||||||
| 190,391 | Akzo Nobel NV | 12,451 | ||||||||
| 463,802 | e | Alamos Gold, Inc | 3,254 | |||||||
| 85,155 | Albemarle Corp | 17,796 | ||||||||
| 185,789 | Alcoa Corp | 8,468 | ||||||||
| 17,834 | Algoma Steel Group, Inc | 159 | ||||||||
| 447,307 | * | Alkane Resources Ltd | 192 | |||||||
| 15,812 | Alkyl Amines Chemicals | 506 | ||||||||
| 23,836 | * | Allegheny Technologies, Inc | 541 | |||||||
| 41,000 | Allied Supreme Corp | 346 | ||||||||
| 669,686 | * | Allkem Ltd | 4,790 | |||||||
| 96 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 10,086 | Alpha Metallurgical Resources, Inc | $ | 1,302 | |||||||
| 47,444 | Altius Minerals Corp | 669 | ||||||||
| 83,619 | Altri SGPS S.A. | 558 | ||||||||
| 40,042 | Alujain Corp | 622 | ||||||||
| 2,857,541 | Alumina Ltd | 2,897 | ||||||||
| 4,711,964 | Aluminum Corp of China Ltd | 1,771 | ||||||||
| 929,287 | * | Aluminum Corp of China Ltd (Class A) | 660 | |||||||
| 684,388 | Ambuja Cements Ltd | 3,156 | ||||||||
| 143,838 | Amcor plc | 1,788 | ||||||||
| 112,416 | American Vanguard Corp | 2,513 | ||||||||
| 31,721 | AMG Advanced Metallurgical Group NV | 815 | ||||||||
| 3,649 | *,e | Amyris, Inc | 7 | |||||||
| 59,469 | Anglo American Platinum Ltd | 5,209 | ||||||||
| 1,502,199 | Anglo American plc | 53,701 | ||||||||
| 465,057 | AngloGold Ashanti Ltd | 6,867 | ||||||||
| 735,791 | e | AngloGold Ashanti Ltd (ADR) | 10,882 | |||||||
| 883,065 | Anhui Conch Cement Co Ltd | 3,832 | ||||||||
| 176,145 | Anhui Conch Cement Co Ltd (Class A) | 930 | ||||||||
| 17,420 | Anhui Honglu Steel Construction Group Co Ltd | 87 | ||||||||
| 412,683 | Antofagasta plc | 5,827 | ||||||||
| 56,524 | APERAM | 1,570 | ||||||||
| 162,280 | APL Apollo Tubes Ltd | 1,760 | ||||||||
| 5,814 | Aptargroup, Inc | 600 | ||||||||
| 59,669 | Arabian Cement Co | 536 | ||||||||
| 679,245 | ArcelorMittal | 15,232 | ||||||||
| 88,453 | * | Arconic Corp | 2,481 | |||||||
| 21,277 | †,e | Ardagh Group S.A. | 324 | |||||||
| 110,079 | Ardagh Metal Packaging S.A. | 671 | ||||||||
| 373,786 | *,e | Argonaut Gold, Inc | 131 | |||||||
| 62,283 | Arkema | 5,571 | ||||||||
| 87,434 | e | Asahi Holdings, Inc | 1,372 | |||||||
| 899,140 | Asahi Kasei Corp | 6,840 | ||||||||
| 36,858 | Ashland Global Holdings, Inc | 3,798 | ||||||||
| 586,000 | Asia Cement China Holdings Corp | 321 | ||||||||
| 1,706,044 | Asia Cement Corp | 2,516 | ||||||||
| 438,000 | Asia Polymer | 415 | ||||||||
| 434,613 | Asian Paints Ltd | 14,879 | ||||||||
| 58,800 | * | Asia-Potash International Investment Guangzhou Co Ltd | 302 | |||||||
| 212,639 | *,e | Aspen Aerogels, Inc | 2,101 | |||||||
| 87,672 | Associated Cement Co Ltd | 2,366 | ||||||||
| 123,431 | Atalaya Mining plc | 485 | ||||||||
| 17,232 | Atul Ltd | 1,757 | ||||||||
| 36,290 | Aurubis AG. | 2,476 | ||||||||
| 99,273 | * | Australian Strategic Materials Ltd | 237 | |||||||
| 158,163 | e | Avery Dennison Corp | 25,602 | |||||||
| 254,806 | Avient Corp | 10,213 | ||||||||
| 3,056,195 | *,†,e | AVZ Minerals Ltd | 1,645 | |||||||
| 737,669 | * | Axalta Coating Systems Ltd | 16,310 | |||||||
| 102,954 | * | Aya Gold & Silver, Inc | 525 | |||||||
| 1,239,834 | B2Gold Corp | 4,200 | ||||||||
| 12,075 | Balaji Amines Ltd | 441 | ||||||||
| 41,679 | Balchem Corp | 5,407 | ||||||||
| 97 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 631,669 | Ball Corp | $ | 43,440 | |||||||
| 1,685,285 | Baoshan Iron & Steel Co Ltd | 1,518 | ||||||||
| 2,245,360 | Barrick Gold Corp | 39,702 | ||||||||
| 10,963 | BASF India Ltd | 380 | ||||||||
| 979,487 | BASF SE | 42,855 | ||||||||
| 13,765 | Bayer CropScience Ltd | 874 | ||||||||
| 759,600 | BBMG Corp | 315 | ||||||||
| 31,700 | Beijing Easpring Material Technology Co Ltd | 430 | ||||||||
| 42,693 | Bekaert S.A. | 1,397 | ||||||||
| 1,119,305 | * | Bellevue Gold Ltd | 494 | |||||||
| 255,244 | Berger Paints India Ltd | 1,844 | ||||||||
| 4,724,000 | Berkah Beton Sadaya Tbk PT | 1,173 | ||||||||
| 18,182 | * | Berry Global Group, Inc | 993 | |||||||
| 54,295 | BEWi ASA | 311 | ||||||||
| 6,612,576 | BHP Billiton Ltd | 189,342 | ||||||||
| 436,631 | e | Billerud AB | 5,120 | |||||||
| 43,083 | *,e | BillerudKorsnas AB | 505 | |||||||
| 4,000 | *,†,e | Bio On S.p.A. | 0 | ^ | ||||||
| 28,588 | Birla Corp Ltd | 317 | ||||||||
| 718,681 | BlueScope Steel Ltd | 7,919 | ||||||||
| 352,529 | Boliden AB | 11,274 | ||||||||
| 454,512 | Boral Ltd | 813 | ||||||||
| 105,530 | Borregaard ASA | 1,725 | ||||||||
| 452,863 | Boubyan Petrochemicals Co KSCP | 1,364 | ||||||||
| 300,100 | Bradespar S.A. | 1,447 | ||||||||
| 47,100 | Bradespar S.A. | 205 | ||||||||
| 224,500 | Braskem S.A. | 1,598 | ||||||||
| 1,807,528 | Breedon Group plc | 1,251 | ||||||||
| 89,759 | Brickworks Ltd | 1,151 | ||||||||
| 112,932 | e | Buzzi Unicem S.p.A. | 1,854 | |||||||
| 12,400 | * | C Uyemura & Co Ltd | 470 | |||||||
| 9,670 | Cabot Corp | 617 | ||||||||
| 413,681 | * | Calibre Mining Corp | 312 | |||||||
| 304,953 | * | Calix Ltd | 1,292 | |||||||
| 74,758 | * | Canfor Corp | 1,304 | |||||||
| 172,467 | CAP S.A. | 1,554 | ||||||||
| 339,478 | * | Capricorn Metals Ltd | 735 | |||||||
| 371,675 | *,e | Capstone Copper Corp | 938 | |||||||
| 126,513 | Carborundum Universal Ltd | 1,154 | ||||||||
| 40,177 | Carpenter Technology Corp | 1,121 | ||||||||
| 80,481 | e | Cascades, Inc | 633 | |||||||
| 610,914 | Castrol India Ltd | 801 | ||||||||
| 180,414 | CCL Industries | 8,527 | ||||||||
| 103,622 | Celanese Corp (Series A) | 12,187 | ||||||||
| 55,461 | Cementir Holding NV | 360 | ||||||||
| 488,465 | Cementos Argos S.A. | 546 | ||||||||
| 16,709,830 | *,e | Cemex S.A. de C.V. | 6,506 | |||||||
| 2,248,869 | Centamin plc | 2,150 | ||||||||
| 263,352 | Centerra Gold, Inc | 1,786 | ||||||||
| 224,670 | Central Asia Metals plc | 606 | ||||||||
| 11,274 | * | Century Aluminum Co | 83 | |||||||
| 198,000 | Century Iron & Steel Industrial Co Ltd | 736 | ||||||||
| 98 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 62,863 | Century Plyboards India Ltd | $ | 421 | |||||||
| 98,489 | Century Textile & Industries Ltd | 1,011 | ||||||||
| 179,540 | CF Industries Holdings, Inc | 15,392 | ||||||||
| 371,317 | * | Chalice Gold Mines Ltd | 972 | |||||||
| 261,314 | Chambal Fertilizers & Chemicals Ltd | 883 | ||||||||
| 418,859 | Champion Iron Ltd | 1,566 | ||||||||
| 5,104 | Chase Corp | 397 | ||||||||
| 149,321 | Chemours Co | 4,781 | ||||||||
| 81,624 | * | Chemplast Sanmar Ltd | 488 | |||||||
| 953,000 | Cheng Loong Corp | 836 | ||||||||
| 165,800 | Chengtun Mining Group Co Ltd | 193 | ||||||||
| 71,100 | Chengxin Lithium Group Co Ltd | 643 | ||||||||
| 545,000 | Chia Hsin Cement Corp | 332 | ||||||||
| 135,762 | * | Chifeng Jilong Gold Mining Co Ltd | 321 | |||||||
| 6,440,000 | China BlueChemical Ltd | 1,853 | ||||||||
| 406,000 | China General Plastics Corp | 418 | ||||||||
| 2,735,605 | China Hongqiao Group Ltd | 3,082 | ||||||||
| 201,429 | China Jushi Co Ltd | 524 | ||||||||
| 1,320,000 | China Manmade Fibers Corp | 353 | ||||||||
| 328,000 | China Metal Products | 352 | ||||||||
| 57,900 | China Minmetals Rare Earth Co Ltd | 271 | ||||||||
| 4,264,614 | e | China Molybdenum Co Ltd | 2,381 | |||||||
| 1,153,644 | China Molybdenum Co Ltd (Class A) | 987 | ||||||||
| 4,576,276 | China National Building Material Co Ltd | 4,902 | ||||||||
| 1,505,000 | China Nonferrous Mining Corp Ltd | 693 | ||||||||
| 249,529 | China Northern Rare Earth Group High-Tech Co Ltd | 1,315 | ||||||||
| 1,444,000 | China Oriental Group Co Ltd | 352 | ||||||||
| 4,110,000 | China Petrochemical Development Corp | 1,327 | ||||||||
| 1,874,248 | China Resources Cement Holdings Ltd | 1,263 | ||||||||
| 178,000 | China Steel Chemical Corp | 697 | ||||||||
| 13,254,181 | China Steel Corp | 12,691 | ||||||||
| 2,269,000 | China XLX Fertiliser Ltd | 1,739 | ||||||||
| 4,462,240 | *,†,e | China Zhongwang Holdings Ltd | 6 | |||||||
| 110,403 | Chr Hansen Holding A/S | 8,059 | ||||||||
| 46,678 | Chugoku Marine Paints Ltd | 303 | ||||||||
| 512,000 | Chun Yuan Steel | 276 | ||||||||
| 5,170 | Chunbo Co Ltd | 832 | ||||||||
| 1,006,000 | Chung Hung Steel Corp | 908 | ||||||||
| 409,000 | Chung Hwa Pulp Corp | 256 | ||||||||
| 169,900 | Cia Brasileira de Aluminio | 376 | ||||||||
| 253,622 | e | Cia de Minas Buenaventura S.A. (ADR) (Series B) | 1,674 | |||||||
| 41,400 | Cia Ferro Ligas da Bahia - FERBASA | 368 | ||||||||
| 730,450 | Cia Siderurgica Nacional S.A. | 2,155 | ||||||||
| 53,578 | * | Ciech S.A. | 450 | |||||||
| 80,320 | City Cement Co | 450 | ||||||||
| 222,730 | * | Clariant AG. | 4,247 | |||||||
| 26,923 | * | Clean Science & Technology Ltd | 510 | |||||||
| 13,888 | * | Clearwater Paper Corp | 467 | |||||||
| 541,854 | * | Cleveland-Cliffs, Inc | 8,328 | |||||||
| 22,500 | CNGR Advanced Material Co Ltd | 418 | ||||||||
| 215,180 | CNNC Hua Yuan Titanium Dioxide Co Ltd | 230 | ||||||||
| 227,275 | * | Coeur Mining, Inc | 691 | |||||||
| 99 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 128,038 | Commercial Metals Co | $ | 4,238 | |||||||
| 86,132 | * | Companhia Vale do Rio Doce | 7 | |||||||
| 5,589 | Compass Minerals International, Inc | 198 | ||||||||
| 495,600 | * | Constellium SE | 6,547 | |||||||
| 192,066 | *,e | Copper Mountain Mining Corp | 254 | |||||||
| 68,652 | Corbion NV | 2,068 | ||||||||
| 1,696,015 | *,e | Core Lithium Ltd | 1,121 | |||||||
| 149,205 | Coromandel International Ltd | 1,807 | ||||||||
| 2,564,882 | g | Coronado Global Resources, Inc | 2,953 | |||||||
| 3,312,956 | Corteva, Inc | 179,363 | ||||||||
| 64,932 | Corticeira Amorim SGPS S.A. | 719 | ||||||||
| 202,403 | g | Covestro AG. | 7,033 | |||||||
| 1,324,210 | CRH plc | 45,697 | ||||||||
| 146,050 | Croda International plc | 11,544 | ||||||||
| 2,466,124 | Crown Holdings, Inc | 227,303 | ||||||||
| 571,012 | CSR Ltd | 1,605 | ||||||||
| 2,758,900 | D&L Industries Inc | 343 | ||||||||
| 302,000 | Daicel Chemical Industries Ltd | 1,867 | ||||||||
| 30,931 | Daido Steel Co Ltd | 797 | ||||||||
| 32,100 | Daiken Corp | 435 | ||||||||
| 26,300 | e | Daiki Aluminium Industry Co Ltd | 232 | |||||||
| 102,499 | Daio Paper Corp | 1,073 | ||||||||
| 58,137 | *,e | Dakota Gold Corp | 195 | |||||||
| 104,521 | Dalmia Bharat Ltd | 1,706 | ||||||||
| 76,767 | *,e | Danimer Scientific, Inc | 350 | |||||||
| 1,383,525 | * | De Grey Mining Ltd | 766 | |||||||
| 84,621 | Deepak Fertilizers & Petrochemicals Corp Ltd | 640 | ||||||||
| 95,051 | Deepak Nitrite Ltd | 2,098 | ||||||||
| 87,749 | Denki Kagaku Kogyo KK | 2,126 | ||||||||
| 497,456 | Deterra Royalties Ltd | 1,458 | ||||||||
| 392,000 | Dexco S.A. | 739 | ||||||||
| 128,611 | * | DGL Group Ltd | 246 | |||||||
| 90,401 | DIC Corp | 1,605 | ||||||||
| 16,206 | * | Diversey Holdings Ltd | 107 | |||||||
| 58,300 | Do-Fluoride New Materials Co Ltd | 428 | ||||||||
| 28,649 | e | Dongbu Steel Co Ltd | 293 | |||||||
| 35,315 | Dongjin Semichem Co Ltd | 878 | ||||||||
| 77,085 | Dongkuk Steel Mill Co Ltd | 765 | ||||||||
| 5,728 | * | Dongwha Enterprise Co Ltd | 274 | |||||||
| 6,638 | Dongwon Systems Corp | 276 | ||||||||
| 1,784,000 | Dongyue Group | 2,238 | ||||||||
| 3,205 | * | Dottikon Es Holding AG. | 691 | |||||||
| 908,439 | Dow, Inc | 46,885 | ||||||||
| 61,179 | Dowa Holdings Co Ltd | 2,026 | ||||||||
| 506,423 | DRDGOLD Ltd | 302 | ||||||||
| 2,366,462 | DS Smith plc | 8,015 | ||||||||
| 183,026 | DSM NV | 26,219 | ||||||||
| 226,162 | Dundee Precious Metals, Inc | 1,126 | ||||||||
| 3,128,827 | DuPont de Nemours, Inc | 173,900 | ||||||||
| 33,282 | Eagle Materials, Inc | 3,659 | ||||||||
| 960,500 | Eastern Polymer Group PCL | 255 | ||||||||
| 52,494 | Eastern Province Cement Co | 643 | ||||||||
| 100 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 46,689 | Eastman Chemical Co | $ | 4,191 | |||||||
| 74,331 | Ecolab, Inc | 11,429 | ||||||||
| 1,478,000 | * | E-Commodities Holdings Ltd | 444 | |||||||
| 21,627 | Ecopro Co Ltd | 1,201 | ||||||||
| 82,492 | EID Parry India Ltd | 556 | ||||||||
| 209,585 | * | Eldorado Gold Corp | 1,337 | |||||||
| 398,818 | Element Solutions, Inc | 7,099 | ||||||||
| 695,350 | * | Elementis plc | 833 | |||||||
| 270,136 | g | Elkem ASA | 868 | |||||||
| 155,600 | e | Elopak ASA | 256 | |||||||
| 1,310,780 | Empresas CMPC S.A. | 2,178 | ||||||||
| 7,309 | EMS-Chemie Holding AG. | 5,455 | ||||||||
| 155,552 | Ence Energia y Celulosa S.A. | 534 | ||||||||
| 8,719 | * | Enchem Co Ltd | 322 | |||||||
| 196,234 | * | Endeavour Silver Corp | 616 | |||||||
| 333,812 | *,e | Equinox Gold Corp | 1,489 | |||||||
| 28,228 | Eramet | 2,956 | ||||||||
| 1,473,275 | Eregli Demir ve Celik Fabrikalari TAS | 2,396 | ||||||||
| 89,395 | * | ERO Copper Corp | 755 | |||||||
| 122,091 | Essel Propack Ltd | 231 | ||||||||
| 361,727 | Essentra plc | 1,096 | ||||||||
| 1,043,000 | Eternal Chemical Co Ltd | 1,136 | ||||||||
| 167,000 | * | EVERGREEN Steel Corp | 339 | |||||||
| 425,000 | Everlight Chemical Industrial Corp | 275 | ||||||||
| 1,907,387 | Evolution Mining Ltd | 3,117 | ||||||||
| 220,399 | Evonik Industries AG. | 4,727 | ||||||||
| 652,000 | Feng Hsin Iron & Steel Co | 1,500 | ||||||||
| 359,479 | Ferrexpo plc | 573 | ||||||||
| 202,348 | *,† | Ferroglobe plc | 0 | ^ | ||||||
| 98,882 | *,e | Filo Mining Corp | 1,367 | |||||||
| 7,711 | Fine Organic Industries Ltd | 470 | ||||||||
| 295,161 | Finolex Industries Ltd | 512 | ||||||||
| 1,286,478 | *,† | Firefinch Ltd | 177 | |||||||
| 212,000 | First Copper Technology Co Ltd | 209 | ||||||||
| 270,886 | e | First Majestic Silver Corp | 1,942 | |||||||
| 737,307 | First Quantum Minerals Ltd | 13,988 | ||||||||
| 66,002 | FMC Corp | 7,063 | ||||||||
| 58,864 | Foosung Co Ltd | 808 | ||||||||
| 4,039,139 | Formosa Chemicals & Fibre Corp | 10,152 | ||||||||
| 4,730,019 | Formosa Plastics Corp | 17,271 | ||||||||
| 276,552 | g | Forterra plc | 901 | |||||||
| 1,768,055 | Fortescue Metals Group Ltd | 21,260 | ||||||||
| 339,707 | *,e | Fortuna Silver Mines, Inc | 966 | |||||||
| 56,720 | FP Corp | 1,186 | ||||||||
| 227,780 | Franco-Nevada Corp | 29,962 | ||||||||
| 1,837,198 | Freeport-McMoRan, Inc (Class B) | 53,756 | ||||||||
| 80,129 | FUCHS PETROLUB SE | 2,242 | ||||||||
| 1,786,000 | Fufeng Group Ltd | 1,148 | ||||||||
| 49,877 | Fuji Seal International, Inc | 543 | ||||||||
| 35,875 | Fujimi, Inc | 1,507 | ||||||||
| 18,230 | Fujimori Kogyo Co Ltd | 468 | ||||||||
| 8,552,676 | Fushan International Energy Group Ltd | 3,552 | ||||||||
| 101 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 25,300 | Fuso Chemical Co Ltd | $ | 663 | |||||||
| 108,982 | FutureFuel Corp | 793 | ||||||||
| 11,151 | Galaxy Surfactants Ltd | 413 | ||||||||
| 73,743 | Ganfeng Lithium Co Ltd | 1,644 | ||||||||
| 425,880 | g | Ganfeng Lithium Co Ltd | 4,694 | |||||||
| 11,771 | * | GCP Applied Technologies, Inc | 368 | |||||||
| 305,279 | GEM Co Ltd | 416 | ||||||||
| 1,273,510 | Gerdau S.A. (Preference) | 5,439 | ||||||||
| 74,219 | GHCL Ltd | 532 | ||||||||
| 90,473 | *,e | Ginkgo Bioworks Holdings, Inc | 215 | |||||||
| 11,960 | Givaudan S.A. | 42,156 | ||||||||
| 38,857 | Glatfelter Corp | 267 | ||||||||
| 19,046,252 | Glencore Xstrata plc | 103,163 | ||||||||
| 54,861 | Godawari Power and Ispat Ltd | 174 | ||||||||
| 318,045 | * | GoGold Resources, Inc | 507 | |||||||
| 993,634 | Gold Fields Ltd | 9,164 | ||||||||
| 1,047,358 | e | Gold Road Resources Ltd | 815 | |||||||
| 1,070,000 | Goldsun Development & Construction Co Ltd | 823 | ||||||||
| 1,041,000 | Grand Pacific Petrochemical | 795 | ||||||||
| 619,445 | e | Grange Resources Ltd | 542 | |||||||
| 125,843 | Granges AB | 945 | ||||||||
| 1,345,815 | Graphic Packaging Holding Co | 27,589 | ||||||||
| 295,178 | Grasim Industries Ltd | 4,955 | ||||||||
| 605,755 | *,† | Great Basin Gold Ltd | 5 | |||||||
| 4,805,166 | * | Greatland Gold plc | 540 | |||||||
| 1,004,000 | Greatview Aseptic Packaging Co | 201 | ||||||||
| 61,224 | Greenpanel Industries Ltd | 337 | ||||||||
| 19,225 | Greif, Inc (Class A) | 1,199 | ||||||||
| 4,087 | Greif, Inc (Class B) | 255 | ||||||||
| 8,450 | Groupe Guillin | 179 | ||||||||
| 108,999 | * | Grupa Azoty S.A. | 1,097 | |||||||
| 338,455 | Grupo Argos S.A. | 1,228 | ||||||||
| 204,600 | e | Grupo Cementos de Chihuahua SAB de C.V. | 1,279 | |||||||
| 3,499,138 | e | Grupo Mexico S.A. de C.V. (Series B) | 14,489 | |||||||
| 130,724 | Guangzhou Tinci Materials Technology Co Ltd | 1,214 | ||||||||
| 61,155 | * | Gubre Fabrikalari TAS | 260 | |||||||
| 21,675 | Gujarat Alkalies & Chemicals Ltd | 190 | ||||||||
| 31,486 | Gujarat Fluorochemicals Ltd | 1,111 | ||||||||
| 95,494 | Gujarat Narmada Valley Fertilizers Co Ltd | 694 | ||||||||
| 305,635 | Gujarat State Fertilisers & Chemicals Ltd | 513 | ||||||||
| 3,580 | e | Gurit Holding AG. | 382 | |||||||
| 14,541 | H.B. Fuller Co | 876 | ||||||||
| 69,500 | Hangzhou Oxygen Plant Group Co Ltd | 325 | ||||||||
| 25,394 | Hanil Cement Co Ltd | 261 | ||||||||
| 10,857 | Hansol Chemical Co Ltd | 1,717 | ||||||||
| 130,092 | * | Hanwha Chemical Corp | 3,809 | |||||||
| 606,184 | Harmony Gold Mining Co Ltd | 1,895 | ||||||||
| 8,208 | Hawkins, Inc | 296 | ||||||||
| 10,609 | Haynes International, Inc | 348 | ||||||||
| 700,747 | Hecla Mining Co | 2,747 | ||||||||
| 1,035,584 | e | HeidelbergCement AG. | 49,999 | |||||||
| 67,346 | HeidelbergCement India Ltd | 145 | ||||||||
| 102 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 464,605 | * | Hektas Ticaret TAS | $ | 826 | ||||||
| 190,200 | Henan Shenhuo Coal & Power Co Ltd | 372 | ||||||||
| 398,769 | Hengli Petrochemical Co Ltd | 1,327 | ||||||||
| 354,294 | Hengyi Petrochemical Co Ltd | 557 | ||||||||
| 1,370,916 | Hesteel Co Ltd | 463 | ||||||||
| 329,999 | Hexpol AB | 2,826 | ||||||||
| 94,378 | Hill & Smith Holdings plc | 1,330 | ||||||||
| 1,529,990 | Hindalco Industries Ltd | 6,598 | ||||||||
| 220,186 | Hindustan Copper Ltd | 245 | ||||||||
| 152,290 | * | Hitachi Metals Ltd | 2,305 | |||||||
| 346,362 | Hochschild Mining plc | 408 | ||||||||
| 149,329 | Hokuetsu Paper Mills Ltd | 772 | ||||||||
| 77,546 | Holcim Ltd | 3,326 | ||||||||
| 98,153 | Holmen AB | 3,998 | ||||||||
| 20,494 | Honam Petrochemical Corp | 2,857 | ||||||||
| 32,200 | Hoshine Silicon Industry Co Ltd | 569 | ||||||||
| 258,000 | Hsin Kuang Steel Co Ltd | 344 | ||||||||
| 1,116,000 | e | Huabao International Holdings Ltd | 861 | |||||||
| 321,600 | Huafon Chemical Co Ltd | 406 | ||||||||
| 223,200 | Huaibei Mining Holdings Co Ltd | 486 | ||||||||
| 106,001 | Huaxin Cement Co Ltd | 309 | ||||||||
| 82,700 | Hubei Xingfa Chemicals Group Co Ltd | 545 | ||||||||
| 19,741 | Huchems Fine Chemical Corp | 302 | ||||||||
| 267,475 | e | HudBay Minerals, Inc | 1,091 | |||||||
| 112,692 | Huhtamaki Oyj | 4,483 | ||||||||
| 188,471 | *,e | Humble Group AB | 269 | |||||||
| 587,811 | Hunan Valin Steel Co Ltd | 448 | ||||||||
| 105,886 | Huntsman Corp | 3,002 | ||||||||
| 23,319 | *,e | Hycroft Mining Holding Corp | 26 | |||||||
| 3,120 | Hyosung Advanced Materials Corp | 916 | ||||||||
| 2,218 | * | Hyosung Chemical Corp | 333 | |||||||
| 3,143 | Hyosung TNC Co Ltd | 831 | ||||||||
| 35,605 | Hyundai Development Co | 182 | ||||||||
| 99,846 | Hyundai Steel Co | 2,477 | ||||||||
| 177,877 | * | i-80 Gold Corp | 321 | |||||||
| 513,773 | *,e | IAMGOLD Corp | 826 | |||||||
| 517,763 | g | Ibstock plc | 1,043 | |||||||
| 905,240 | Iluka Resources Ltd | 5,905 | ||||||||
| 59,659 | IMCD Group NV | 8,157 | ||||||||
| 401,459 | Imdex Ltd | 511 | ||||||||
| 40,258 | Imerys S.A. | 1,232 | ||||||||
| 953,969 | Impala Platinum Holdings Ltd | 10,584 | ||||||||
| 3,450,654 | Incitec Pivot Ltd | 7,941 | ||||||||
| 794,645 | Independence Group NL | 5,447 | ||||||||
| 152,958 | India Cements Ltd | 305 | ||||||||
| 9,864 | * | Indigo Paints Ltd | 175 | |||||||
| 1,797,704 | Indorama Ventures PCL | 2,396 | ||||||||
| 162,411 | e | Industrias Penoles S.A. de C.V. | 1,504 | |||||||
| 90,367 | * | Ingevity Corp | 5,706 | |||||||
| 3,142,018 | Inner Mongolia BaoTou Steel Union Co Ltd | 1,105 | ||||||||
| 84,560 | Inner Mongolia ERDOS Resources Co Ltd | 228 | ||||||||
| 583,988 | Inner Mongolia Junzheng Energy & Chemical Industry Group Co Ltd | 426 | ||||||||
| 103 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 325,000 | Inner Mongolia Yuan Xing Energy Co Ltd | $ | 512 | |||||||
| 70,092 | Innospec, Inc | 6,714 | ||||||||
| 109,498 | * | Interfor Corp | 2,207 | |||||||
| 754,000 | International CSRC Investment Holdings Co | 491 | ||||||||
| 434,807 | International Flavors & Fragrances, Inc | 51,794 | ||||||||
| 52,380 | International Paper Co | 2,191 | ||||||||
| 9,354 | * | Intrepid Potash, Inc | 424 | |||||||
| 1,808,731 | * | ioneer Ltd | 516 | |||||||
| 741,477 | Israel Chemicals Ltd | 6,773 | ||||||||
| 9,629 | * | Israel Corp Ltd | 4,268 | |||||||
| 922,165 | * | Ivanhoe Mines Ltd | 5,309 | |||||||
| 464,049 | James Hardie Industries NV | 10,159 | ||||||||
| 61,559 | * | Jastrzebska Spolka Weglowa S.A. | 881 | |||||||
| 22,600 | JCU Corp | 567 | ||||||||
| 1,487,138 | * | Jervois Global Ltd | 545 | |||||||
| 426,420 | JFE Holdings, Inc | 4,486 | ||||||||
| 13,300 | Jiangsu Yangnong Chemical Co Ltd | 265 | ||||||||
| 32,600 | Jiangsu Yoke Technology Co Ltd | 271 | ||||||||
| 1,372,115 | Jiangxi Copper Co Ltd | 1,876 | ||||||||
| 186,509 | Jiangxi Copper Co Ltd (Class A) | 497 | ||||||||
| 3,517,000 | e | Jinchuan Group International Resources Co Ltd | 463 | |||||||
| 91,947 | * | Jindal Stainless Hisar Ltd | 238 | |||||||
| 836,754 | Jindal Steel & Power Ltd | 3,506 | ||||||||
| 42,099 | JK Cement Ltd | 1,128 | ||||||||
| 58,589 | JK Lakshmi Cement Ltd | 313 | ||||||||
| 93,314 | * | JK Paper Ltd | 351 | |||||||
| 196,183 | Johnson Matthey plc | 4,626 | ||||||||
| 184,189 | * | JSL Ltd | 234 | |||||||
| 211,364 | JSR Corp | 5,493 | ||||||||
| 817,182 | JSW Steel Ltd | 5,867 | ||||||||
| 86,294 | Jubilant Ingrevia Ltd | 534 | ||||||||
| 345,404 | K&S AG. | 8,406 | ||||||||
| 245,418 | * | K92 Mining, Inc | 1,481 | |||||||
| 2,977 | Kaiser Aluminum Corp | 235 | ||||||||
| 55,715 | Kaneka Corp | 1,372 | ||||||||
| 172,600 | Kansai Nerolac Paints Ltd | 811 | ||||||||
| 217,400 | Kansai Paint Co Ltd | 2,775 | ||||||||
| 117,100 | Kanto Denka Kogyo Co Ltd | 764 | ||||||||
| 862,256 | Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D) | 584 | ||||||||
| 177,308 | * | Karora Resources, Inc | 457 | |||||||
| 5,158 | KCC Corp | 1,144 | ||||||||
| 14,800 | e | KeePer Technical Laboratory Co Ltd | 388 | |||||||
| 123,898 | Kemira Oyj | 1,519 | ||||||||
| 155,451 | * | KGHM Polska Miedz S.A. | 4,153 | |||||||
| 40,600 | KH Neochem Co Ltd | 745 | ||||||||
| 224,425 | Kingfa Sci & Tech Co Ltd | 320 | ||||||||
| 1,481,558 | Kinross Gold Corp | 5,272 | ||||||||
| 859,638 | Klabin S.A. | 3,318 | ||||||||
| 663,700 | Kobe Steel Ltd | 3,012 | ||||||||
| 31,754 | Kolon Industries, Inc | 1,284 | ||||||||
| 32,058 | Konishi Co Ltd | 365 | ||||||||
| 17,841 | Koppers Holdings, Inc | 404 | ||||||||
| 104 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 13,209 | Korea Kumho Petrochemical | $ | 1,421 | |||||||
| 4,447 | Korea Petrochemical Ind Co Ltd | 422 | ||||||||
| 9,581 | Korea Zinc Co Ltd | 3,606 | ||||||||
| 50,522 | * | Koza Altin Isletmeleri AS | 514 | |||||||
| 214,133 | * | Koza Anadolu Metal Madencilik Isletmeleri AS | 335 | |||||||
| 23,369 | Kronos Worldwide, Inc | 430 | ||||||||
| 95,073 | * | Kuk-il Paper Manufacturing Co Ltd | 185 | |||||||
| 73,519 | Kumba Iron Ore Ltd | 2,383 | ||||||||
| 91,148 | Kumiai Chemical Industry Co Ltd | 743 | ||||||||
| 371,300 | e | Kuraray Co Ltd | 2,996 | |||||||
| 18,200 | Kureha CORP | 1,282 | ||||||||
| 22,716 | Kyoei Steel Ltd | 231 | ||||||||
| 68,273 | e | Labrador Iron Ore Royalty Corp | 1,504 | |||||||
| 1,324,277 | *,e | Lake Resources NL | 722 | |||||||
| 95,233 | Lanxess AG. | 3,437 | ||||||||
| 42,805 | *,e | Largo, Inc | 292 | |||||||
| 80,902 | Laxmi Organic Industries Ltd | 294 | ||||||||
| 1,496,000 | Lee & Man Paper Manufacturing Ltd | 643 | ||||||||
| 15,663 | e | Lenzing AG. | 1,270 | |||||||
| 918,912 | *,e | Leo Lithium Ltd | 352 | |||||||
| 87,629 | LG Chem Ltd | 34,813 | ||||||||
| 9,233 | LG Chem Ltd (Preference) | 1,710 | ||||||||
| 26,653 | Linde India Ltd | 1,083 | ||||||||
| 959,237 | Linde plc | 275,809 | ||||||||
| 404,980 | Linde plc (Xetra) | 116,513 | ||||||||
| 48,900 | Lintec Corp | 829 | ||||||||
| 1,952,026 | * | Liontown Resources Ltd | 1,425 | |||||||
| 124,456 | *,e | Lithium Americas Corp | 2,507 | |||||||
| 194,271 | *,e | Livent Corp | 4,408 | |||||||
| 84,409 | * | Lloyds Metals & Energy Ltd | 150 | |||||||
| 173,154 | Lomon Billions Group Co Ltd | 520 | ||||||||
| 817,000 | Long Chen Paper Co Ltd | 462 | ||||||||
| 1,793,176 | g | Lotte Chemical Titan Holding BHD | 802 | |||||||
| 153,974 | Louisiana-Pacific Corp | 8,070 | ||||||||
| 132,677 | * | LSB Industries, Inc | 1,839 | |||||||
| 96,388 | * | Lundin Gold, Inc | 692 | |||||||
| 783,064 | Lundin Mining Corp | 4,964 | ||||||||
| 163,500 | * | Luxi Chemical Group Co Ltd | 423 | |||||||
| 1,352,706 | * | Lynas Corp Ltd | 8,176 | |||||||
| 114,800 | LyondellBasell Industries NV | 10,040 | ||||||||
| 531,200 | Maanshan Iron & Steel Co Ltd (Class A) | 301 | ||||||||
| 123,886 | * | Madras Cements Ltd | 1,003 | |||||||
| 20,933 | e | Maeda Kosen Co Ltd | 453 | |||||||
| 100,690 | *,e | MAG. Silver Corp | 1,229 | |||||||
| 84,639 | * | Major Drilling Group International | 594 | |||||||
| 252,027 | Marshalls plc | 1,376 | ||||||||
| 21,007 | Martin Marietta Materials, Inc | 6,286 | ||||||||
| 68,100 | Maruichi Steel Tube Ltd | 1,443 | ||||||||
| 97,161 | Materion Corp | 7,164 | ||||||||
| 71,959 | e | Maverix Metals, Inc | 312 | |||||||
| 13,158,676 | * | Merdeka Copper Gold Tbk PT | 3,524 | |||||||
| 4,879,926 | Mesaieed Petrochemical Holding Co | 3,340 | ||||||||
| 105 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,471,500 | Metalurgica Gerdau S.A. | $ | 2,685 | |||||||
| 70,025 | Methanex Corp | 2,675 | ||||||||
| 38,440 | * | Methanol Chemicals Co | 379 | |||||||
| 28,337 | Middle East Paper Co | 430 | ||||||||
| 415,285 | * | Mincor Resources NL | 481 | |||||||
| 249,529 | Mineral Resources Ltd | 8,375 | ||||||||
| 27,174 | Minerals Technologies, Inc | 1,667 | ||||||||
| 12,437 | Miquel y Costas & Miquel S.A. | 170 | ||||||||
| 65,462 | Misr Fertilizers Production Co SAE | 327 | ||||||||
| 11,800 | Mitani Sekisan Co Ltd | 374 | ||||||||
| 1,287,805 | Mitsubishi Chemical Holdings Corp | 6,998 | ||||||||
| 194,000 | Mitsubishi Gas Chemical Co, Inc | 2,806 | ||||||||
| 263,400 | Mitsubishi Materials Corp | 3,770 | ||||||||
| 152,162 | Mitsui Chemicals, Inc | 3,246 | ||||||||
| 62,164 | Mitsui Mining & Smelting Co Ltd | 1,450 | ||||||||
| 1,954 | Miwon Commercial Co Ltd | 268 | ||||||||
| 3,792,000 | * | MMG Ltd | 1,408 | |||||||
| 508,277 | Mondi plc | 9,022 | ||||||||
| 12,981 | *,† | Mongolian Metals Corporation | 0 | ^ | ||||||
| 237,657 | Mosaic Co | 11,225 | ||||||||
| 688,060 | Mount Gibson Iron Ltd | 257 | ||||||||
| 15,737 | *,e | MP Materials Corp | 505 | |||||||
| 206,701 | M-real Oyj (B Shares) | 1,731 | ||||||||
| 114,456 | Myers Industries, Inc | 2,602 | ||||||||
| 89,046 | Mytilineos Holdings S.A. | 1,318 | ||||||||
| 100,121 | Najran Cement Co | 394 | ||||||||
| 23,818 | Namhae Chemical Corp | 182 | ||||||||
| 58,000 | Nan Pao Resins Chemical Co Ltd | 258 | ||||||||
| 5,458,887 | Nan Ya Plastics Corp | 15,238 | ||||||||
| 302,000 | e | Nanofilm Technologies International Ltd | 507 | |||||||
| 160,892 | *,e | NanoXplore, Inc | 411 | |||||||
| 311,000 | Nantex Industry Co Ltd | 447 | ||||||||
| 1,653,088 | National Aluminium Co Ltd | 1,448 | ||||||||
| 368,311 | * | National Industrialization Co | 1,587 | |||||||
| 38,872 | Navin Fluorine International Ltd | 1,803 | ||||||||
| 13,048 | Neenah Inc | 445 | ||||||||
| 530,933 | * | Neometals Ltd | 333 | |||||||
| 778,230 | * | New Gold, Inc | 828 | |||||||
| 102,218 | * | New Pacific Metals Corp | 291 | |||||||
| 929,425 | Newcrest Mining Ltd | 13,241 | ||||||||
| 5,887 | NewMarket Corp | 1,772 | ||||||||
| 775,215 | Newmont Goldcorp Corp | 46,257 | ||||||||
| 1,202,868 | Nickel Mines Ltd | 811 | ||||||||
| 99,481 | Nihon Parkerizing Co Ltd | 655 | ||||||||
| 2,167,151 | Nine Dragons Paper Holdings Ltd | 1,837 | ||||||||
| 149,900 | Ningbo Shanshan Co Ltd | 667 | ||||||||
| 444,606 | Ningxia Baofeng Energy Group Co Ltd | 973 | ||||||||
| 146,666 | Nippon Kayaku Co Ltd | 1,187 | ||||||||
| 199,303 | Nippon Light Metal Holdings Co Ltd | 2,191 | ||||||||
| 589,490 | Nippon Paint Co Ltd | 4,411 | ||||||||
| 113,680 | Nippon Paper Industries Co Ltd | 805 | ||||||||
| 38,028 | Nippon Shokubai Co Ltd | 1,470 | ||||||||
| 106 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 25,684 | Nippon Soda Co Ltd | $ | 825 | |||||||
| 907,550 | Nippon Steel Corp | 12,701 | ||||||||
| 138,731 | Nissan Chemical Industries Ltd | 6,403 | ||||||||
| 5,707 | Nittetsu Mining Co Ltd | 216 | ||||||||
| 143,425 | Nitto Denko Corp | 9,277 | ||||||||
| 129,766 | NOCIL Ltd | 418 | ||||||||
| 132,582 | NOF Corp | 4,920 | ||||||||
| 1,547,871 | Norsk Hydro ASA | 8,747 | ||||||||
| 355,668 | * | Northam Platinum Holdings Ltd | 3,745 | |||||||
| 105,481 | Northern Region Cement Co | 328 | ||||||||
| 1,214,214 | Northern Star Resources Ltd | 5,696 | ||||||||
| 46,467 | * | Novagold Resources Inc | 224 | |||||||
| 276,565 | *,e | Novagold Resources, Inc | 1,321 | |||||||
| 215,088 | Novozymes AS | 12,945 | ||||||||
| 267,583 | Nucor Corp | 27,938 | ||||||||
| 1,144,887 | Nufarm Ltd | 4,037 | ||||||||
| 72,294 | Nuh Cimento Sanayi AS. | 251 | ||||||||
| 163,638 | Nutrien Ltd | 13,040 | ||||||||
| 909,256 | e | Nutrien Ltd | 72,411 | |||||||
| 109,674 | * | Nuvoco Vistas Corp Ltd | 414 | |||||||
| 819,032 | * | OceanaGold Corp | 1,572 | |||||||
| 22,210 | OCI Co Ltd | 2,454 | ||||||||
| 294,431 | OCI NV | 9,686 | ||||||||
| 329,057 | * | O-I Glass, Inc | 4,607 | |||||||
| 574,578 | OJI Paper Co Ltd | 2,489 | ||||||||
| 10,800 | Okamoto Industries, Inc | 303 | ||||||||
| 162,762 | Olin Corp | 7,533 | ||||||||
| 8,009 | Olympic Steel, Inc | 206 | ||||||||
| 193,870 | * | Omnia Holdings Ltd | 866 | |||||||
| 1,134,548 | Orbia Advance Corp SAB de C.V. | 2,655 | ||||||||
| 423,229 | Orica Ltd | 4,630 | ||||||||
| 563,000 | Oriental Union Chemical Corp | 354 | ||||||||
| 47,027 | *,e | Origin Materials, Inc | 241 | |||||||
| 455,684 | Orion Engineered Carbons SA | 7,077 | ||||||||
| 185,472 | * | Orla Mining Ltd | 507 | |||||||
| 1,020,850 | Orora Ltd | 2,576 | ||||||||
| 16,800 | Osaka Organic Chemical Industry Ltd | 274 | ||||||||
| 14,800 | Osaka Soda Co Ltd | 349 | ||||||||
| 208,044 | e | Osisko Gold Royalties Ltd | 2,098 | |||||||
| 341,733 | * | Osisko Mining, Inc | 812 | |||||||
| 427,805 | e | Outokumpu Oyj | 1,786 | |||||||
| 389,087 | Oxiana Ltd | 4,783 | ||||||||
| 403,150 | * | Oyak Cimento Fabrikalari AS | 304 | |||||||
| 62,500 | * | Pacific Metals Co Ltd | 1,084 | |||||||
| 184,958 | Packaging Corp of America | 25,432 | ||||||||
| 229,617 | Pact Group Holdings Ltd | 287 | ||||||||
| 59,962 | Pactiv Evergreen, Inc | 597 | ||||||||
| 2,311,822 | Pan African Resources plc | 588 | ||||||||
| 251,259 | Pan American Silver Corp (Toronto) | 4,937 | ||||||||
| 564,266 | * | Pangang Group Vanadium Titanium & Resources Co Ltd | 321 | |||||||
| 211,532 | PCBL Ltd | 281 | ||||||||
| 1,015,393 | Perenti Global Ltd | 460 | ||||||||
| 107 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 102,035 | *,e | Perimeter Solutions S.A. | $ | 1,106 | ||||||
| 2,561,491 | Perseus Mining Ltd | 2,779 | ||||||||
| 1,158,725 | * | Petkim Petrokimya Holding | 610 | |||||||
| 2,793,415 | Petronas Chemicals Group BHD | 5,704 | ||||||||
| 16,702 | PI Advanced Materials Co Ltd | 411 | ||||||||
| 87,954 | PI Industries Ltd | 2,859 | ||||||||
| 173,046 | Pidilite Industries Ltd | 4,588 | ||||||||
| 11,373 | * | Piedmont Lithium, Inc | 414 | |||||||
| 3,026,537 | * | Pilbara Minerals Ltd | 4,814 | |||||||
| 16,888 | *,e | PolyMet Mining Corp | 46 | |||||||
| 18,824 | Polyplex Corp Ltd | 527 | ||||||||
| 591 | †,e | Polyus PJSC (GDR) | 0 | ^ | ||||||
| 22,252 | Poongsan Corp | 426 | ||||||||
| 248,238 | Portucel Empresa Produtora de Pasta e Papel S.A. | 998 | ||||||||
| 170,124 | POSCO | 30,339 | ||||||||
| 28,419 | POSCO Refractories & Environment Co Ltd | 2,354 | ||||||||
| 1,429,052 | PPG Industries, Inc | 163,398 | ||||||||
| 407,470 | PQ Group Holdings, Inc | 4,014 | ||||||||
| 3,927,368 | Press Metal BHD | 4,249 | ||||||||
| 126,676 | * | Prism Cement Ltd | 174 | |||||||
| 9,028 | * | Privi Speciality Chemicals Ltd | 125 | |||||||
| 8,941,700 | PT Aneka Tambang Tbk | 1,080 | ||||||||
| 30,115,697 | PT Barito Pacific Tbk | 1,528 | ||||||||
| 2,948,597 | PT Indah Kiat Pulp and Paper Corp Tbk | 1,507 | ||||||||
| 1,476,300 | PT Indocement Tunggal Prakarsa Tbk | 940 | ||||||||
| 1,700,700 | PT Pabrik Kertas Tjiwi Kimia Tbk | 737 | ||||||||
| 3,278,689 | PT Semen Gresik Persero Tbk | 1,571 | ||||||||
| 2,862,200 | PT Timah Tbk | 278 | ||||||||
| 2,689,900 | * | PT Vale Indonesia Tbk | 1,024 | |||||||
| 2,741,909 | PTT Global Chemical PCL | 3,539 | ||||||||
| 30,999 | *,e | PureCycle Technologies, Inc | 230 | |||||||
| 50,083 | Qassim Cement Co | 1,057 | ||||||||
| 3,333,089 | Qatar Aluminum Manufacturing Co | 1,557 | ||||||||
| 362,757 | Qatar National Cement Co | 509 | ||||||||
| 368,961 | Qatari Investors Group | 207 | ||||||||
| 5,310 | e | Quaker Chemical Corp | 794 | |||||||
| 227,855 | Rain Commodities Ltd | 426 | ||||||||
| 69,861 | Rallis India Ltd | 167 | ||||||||
| 3,433 | Ramaco Resources, Inc | 45 | ||||||||
| 997,632 | Ramelius Resources Ltd | 597 | ||||||||
| 36,256 | * | Ranpak Holdings Corp | 254 | |||||||
| 161,129 | Rashtriya Chemicals & Fertilizers Ltd | 160 | ||||||||
| 10,617 | * | Ratnamani Metals & Tubes Ltd | 223 | |||||||
| 21,233 | Ratnamani Metals & Tubes Ltd | 446 | ||||||||
| 53,568 | * | Rayonier Advanced Materials, Inc | 140 | |||||||
| 23,238 | *,e | Re:NewCell AB | 220 | |||||||
| 48,985 | Recticel S.A. | 733 | ||||||||
| 2,425,873 | * | Red 5 Ltd | 417 | |||||||
| 902,977 | Regis Resources Ltd | 804 | ||||||||
| 248,994 | Reliance Steel & Aluminum Co | 42,294 | ||||||||
| 533,183 | Rengo Co Ltd | 2,897 | ||||||||
| 38,213 | * | Resolute Forest Products | 488 | |||||||
| 108 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 16,327 | * | Resolute Forest Products, Inc | $ | 209 | ||||||
| 49,247 | Rhi Magnesita India Ltd | 314 | ||||||||
| 31,050 | Rhi Magnesita NV | 753 | ||||||||
| 387,711 | Rio Tinto Ltd | 27,659 | ||||||||
| 1,660,968 | Rio Tinto plc | 99,304 | ||||||||
| 68,113 | Riyadh Cement Co | 633 | ||||||||
| 714,524 | Rongsheng Petro Chemical Co Ltd | 1,646 | ||||||||
| 12,742 | Rossari Biotech Ltd | 141 | ||||||||
| 99,149 | Royal Bafokeng Platinum Ltd | 893 | ||||||||
| 88,239 | Royal Gold, Inc | 9,422 | ||||||||
| 20,057 | RPM International, Inc | 1,579 | ||||||||
| 35,003 | Ryerson Holding Corp | 745 | ||||||||
| 84,938 | Sa des Ciments Vicat | 2,351 | ||||||||
| 246,451 | SABIC Agri-Nutrients Co | 9,067 | ||||||||
| 438,095 | * | Sabina Gold & Silver Corp | 361 | |||||||
| 415,037 | Sahara International Petrochemical Co | 5,566 | ||||||||
| 45,800 | e | Sakata INX Corp | 309 | |||||||
| 35,549 | Salzgitter AG. | 869 | ||||||||
| 19,206 | Samsung Fine Chemicals Co Ltd | 973 | ||||||||
| 41,000 | * | San Fu Chemical Co Ltd | 219 | |||||||
| 475,145 | Sandfire Resources NL | 1,465 | ||||||||
| 230,643 | e | Sandstorm Gold Ltd | 1,369 | |||||||
| 13,711 | Sanyo Chemical Industries Ltd | 481 | ||||||||
| 83,806 | Sanyo Special Steel Co Ltd | 1,213 | ||||||||
| 662,689 | * | Sappi Ltd | 2,194 | |||||||
| 648,240 | * | Sasol Ltd | 14,948 | |||||||
| 966,950 | * | Saudi Arabian Mining Co | 12,906 | |||||||
| 1,026,611 | Saudi Basic Industries Corp | 27,839 | ||||||||
| 85,274 | Saudi Cement Co | 1,157 | ||||||||
| 422,054 | Saudi Industrial Investment Group | 3,212 | ||||||||
| 858,521 | * | Saudi Kayan Petrochemical Co | 3,617 | |||||||
| 6,290,600 | *,e | Sayona Mining Ltd | 652 | |||||||
| 1,370,800 | SCG Packaging PCL | 2,156 | ||||||||
| 1,034,254 | * | Schmolz + Bickenbach AG. | 258 | |||||||
| 20,216 | Schnitzer Steel Industries, Inc (Class A) | 664 | ||||||||
| 27,087 | Schweitzer-Mauduit International, Inc | 680 | ||||||||
| 828,100 | Scientex BHD | 650 | ||||||||
| 38,947 | Scotts Miracle-Gro Co (Class A) | 3,076 | ||||||||
| 80,090 | * | Seabridge Gold, Inc | 992 | |||||||
| 34,740 | Seah Besteel Corp | 412 | ||||||||
| 1,019,988 | Sealed Air Corp | 58,874 | ||||||||
| 8,218,300 | *,† | Sekawan Intipratama Tbk PT | 0 | ^ | ||||||
| 15,462 | Semapa-Sociedade de Investimento e Gestao | 218 | ||||||||
| 59,172 | Sensient Technologies Corp | 4,767 | ||||||||
| 902,681 | Sesa Sterlite Ltd | 2,557 | ||||||||
| 188,000 | * | Sesoda Corp | 287 | |||||||
| 274,968 | Shandong Gold Mining Co Ltd - A | 757 | ||||||||
| 945,505 | g | Shandong Gold Mining Co Ltd - H | 1,642 | |||||||
| 167,007 | Shandong Hualu Hengsheng Chemical Co Ltd | 730 | ||||||||
| 888,366 | Shandong Nanshan Aluminum Co Ltd | 490 | ||||||||
| 158,511 | Shandong Sun Paper Industry JSC Ltd | 292 | ||||||||
| 593,000 | Shanghai Chlor-Alkali Chemical Co Ltd | 446 | ||||||||
| 109 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 90,964 | Shanghai Putailai New Energy Technology Co Ltd | $ | 1,152 | |||||||
| 326,629 | Shanxi Meijin Energy Co Ltd | 597 | ||||||||
| 487,363 | Shanxi Taigang Stainless Steel Co Ltd | 397 | ||||||||
| 31,197 | * | Sharda Cropchem Ltd | 251 | |||||||
| 132,600 | Shenghe Resources Holding Co Ltd | 448 | ||||||||
| 47,048 | Shenzhen Capchem Technology Co Ltd | 371 | ||||||||
| 8,900 | Shenzhen Dynanonic Co Ltd | 544 | ||||||||
| 81,960 | Shenzhen Senior Technology Material Co Ltd | 357 | ||||||||
| 474,404 | Sherwin-Williams Co | 106,224 | ||||||||
| 166,000 | * | Shihlin Paper Corp | 317 | |||||||
| 37,600 | Shikoku Chemicals Corp | 344 | ||||||||
| 415,925 | Shin-Etsu Chemical Co Ltd | 46,755 | ||||||||
| 48,003 | Shin-Etsu Polymer Co Ltd | 418 | ||||||||
| 1,374,000 | Shinkong Synthetic Fibers Corp | 839 | ||||||||
| 120,000 | Shiny Chemical Industrial Co Ltd | 609 | ||||||||
| 205,600 | Showa Denko KK | 3,497 | ||||||||
| 12,246 | Shree Cement Ltd | 2,959 | ||||||||
| 871,283 | Siam Cement PCL | 9,232 | ||||||||
| 86,800 | Siam City Cement PCL | 371 | ||||||||
| 3,161,926 | Sibanye Stillwater Ltd | 7,853 | ||||||||
| 786,100 | Sichuan Hebang Biotechnology Co Ltd | 501 | ||||||||
| 80,600 | Sichuan Yahua Industrial Group Co Ltd | 395 | ||||||||
| 334,294 | SIG Combibloc Group AG. | 7,382 | ||||||||
| 51,828 | e | Sika AG. | 11,964 | |||||||
| 327,676 | Silgan Holdings, Inc | 13,549 | ||||||||
| 1,076,192 | * | Silver Lake Resources Ltd | 895 | |||||||
| 212,202 | e | Silvercorp Metals, Inc | 526 | |||||||
| 166,817 | *,e | SilverCrest Metals, Inc | 1,020 | |||||||
| 197,741 | Sims Ltd | 1,879 | ||||||||
| 1,490,000 | Sinofert Holdings Ltd | 219 | ||||||||
| 134,000 | Sinoma Science & Technology Co Ltd | 552 | ||||||||
| 30,120 | Sinomine Resource Group Co Ltd | 418 | ||||||||
| 872,567 | Sinopec Shanghai Petrochemical Co Ltd (Class A) | 414 | ||||||||
| 13,139 | SK Chemicals Co Ltd | 934 | ||||||||
| 26,843 | *,g | SK IE Technology Co Ltd | 2,040 | |||||||
| 21,709 | SKC Co Ltd | 2,232 | ||||||||
| 66,681 | * | Skeena Resources Ltd | 352 | |||||||
| 24,006 | Skshu Paint Co Ltd | 465 | ||||||||
| 485,109 | Smurfit Kappa Group plc | 16,359 | ||||||||
| 120,754 | Sociedad Quimica y Minera de Chile S.A. (ADR) | 10,087 | ||||||||
| 163,051 | Sociedad Quimica y Minera de Chile S.A. (Class B) | 13,593 | ||||||||
| 46,270 | SOL S.p.A. | 799 | ||||||||
| 505,000 | Solar Applied Materials Technology Co | 699 | ||||||||
| 28,366 | Solar Industries India Ltd | 988 | ||||||||
| 112,844 | *,e | Solaris Resources, Inc | 654 | |||||||
| 1,311,295 | *,e | SolGold plc | 466 | |||||||
| 77,590 | Solvay S.A. | 6,321 | ||||||||
| 87,501 | Sonoco Products Co | 4,991 | ||||||||
| 4,451 | Soulbrain Co Ltd | 786 | ||||||||
| 5,812,019 | South32 Ltd | 15,749 | ||||||||
| 177,074 | Southern Copper Corp | 8,820 | ||||||||
| 79,857 | Southern Province Cement Co | 1,222 | ||||||||
| 110 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 166,135 | SRF Ltd | $ | 4,758 | |||||||
| 415,631 | Ssab Svenskt Stal AB (Series A) | 1,824 | ||||||||
| 1,319,369 | Ssab Svenskt Stal AB (Series B) | 5,482 | ||||||||
| 389,806 | SSR Mining, Inc | 6,511 | ||||||||
| 148,517 | e | SSR Mining, Inc | 2,480 | |||||||
| 1,075,449 | St Barbara Ltd | 552 | ||||||||
| 3,855,000 | * | STARK Corp PCL | 472 | |||||||
| 249,286 | Steel Dynamics, Inc | 16,490 | ||||||||
| 60,178 | e | Stelco Holdings, Inc | 1,504 | |||||||
| 67,916 | Stella-Jones, Inc | 1,715 | ||||||||
| 33,801 | Stepan Co | 3,426 | ||||||||
| 2,926 | STO AG. | 430 | ||||||||
| 602,045 | Stora Enso Oyj (R Shares) | 9,539 | ||||||||
| 145,200 | Straits Trading Co Ltd | 299 | ||||||||
| 67,912 | Sumitomo Bakelite Co Ltd | 2,036 | ||||||||
| 1,456,315 | Sumitomo Chemical Co Ltd | 5,700 | ||||||||
| 109,691 | Sumitomo Chemical India Ltd | 591 | ||||||||
| 273,100 | Sumitomo Metal Mining Co Ltd | 8,467 | ||||||||
| 40,321 | Sumitomo Osaka Cement Co Ltd | 1,002 | ||||||||
| 610,912 | * | Summit Materials, Inc | 14,228 | |||||||
| 72,885 | SunCoke Energy, Inc | 496 | ||||||||
| 2,444,500 | *,†,e | Superb Summit International Group Ltd | 3 | |||||||
| 76,836 | Supreme Industries Ltd | 1,724 | ||||||||
| 32,193 | * | Supreme Petrochem Ltd | 363 | |||||||
| 840,117 | Suzano SA | 7,977 | ||||||||
| 36,200 | Suzhou TA&A Ultra Clean Technology Co Ltd | 475 | ||||||||
| 631,897 | Svenska Cellulosa AB (B Shares) | 9,494 | ||||||||
| 7,539 | Sylvamo Corp | 246 | ||||||||
| 139,002 | Symrise AG. | 15,160 | ||||||||
| 731,233 | * | Syrah Resources Ltd | 628 | |||||||
| 40,400 | T Hasegawa Co Ltd | 823 | ||||||||
| 181,000 | Ta Ann Holdings BHD | 163 | ||||||||
| 1,762,000 | TA Chen Stainless Pipe | 2,006 | ||||||||
| 306 | Taekwang Industrial Co Ltd | 213 | ||||||||
| 136,000 | Taiheiyo Cement Corp | 2,026 | ||||||||
| 284,000 | Taita Chemical Co Ltd | 266 | ||||||||
| 3,969,482 | Taiwan Cement Corp | 5,282 | ||||||||
| 1,941,000 | Taiwan Fertilizer Co Ltd | 4,173 | ||||||||
| 372,000 | Taiwan Hon Chuan Enterprise Co Ltd | 953 | ||||||||
| 41,200 | Taiyo Ink Manufacturing Co Ltd | 865 | ||||||||
| 121,604 | Taiyo Nippon Sanso Corp | 1,947 | ||||||||
| 13,755 | Takasago International Corp | 247 | ||||||||
| 46,614 | Takiron Co Ltd | 185 | ||||||||
| 183,300 | Tangshan Jidong Cement Co Ltd | 289 | ||||||||
| 327,047 | *,e | Taseko Mines Ltd | 358 | |||||||
| 193,929 | Tata Chemicals Ltd | 1,955 | ||||||||
| 829,384 | Tata Steel Ltd | 9,145 | ||||||||
| 652,809 | Teck Cominco Ltd | 19,962 | ||||||||
| 211,400 | Teijin Ltd | 2,201 | ||||||||
| 16,600 | Tenma Corp | 282 | ||||||||
| 22,839 | * | Tessenderlo Chemie NV | 725 | |||||||
| 3,670,262 | * | ThyssenKrupp AG. | 20,929 | |||||||
| 111 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,586,000 | Tiangong International Co Ltd | $ | 572 | |||||||
| 286,900 | Tianshan Aluminum Group Co Ltd | 281 | ||||||||
| 66,200 | * | Tibet Summit Resources Co Ltd | 285 | |||||||
| 39,453 | * | TimkenSteel Corp | 738 | |||||||
| 677,000 | Tipco Asphalt PCL | 306 | ||||||||
| 51,450 | Titan Cement International S.A. | 610 | ||||||||
| 568,100 | TOA Paint Thailand PCL | 470 | ||||||||
| 107,803 | Toagosei Co Ltd | 802 | ||||||||
| 39,824 | Toho Titanium Co Ltd | 647 | ||||||||
| 237,329 | e | Tokai Carbon Co Ltd | 1,810 | |||||||
| 10,000 | Tokushu Tokai Holdings Co Ltd | 233 | ||||||||
| 132,241 | Tokuyama Corp | 1,682 | ||||||||
| 37,314 | Tokyo Ohka Kogyo Co Ltd | 1,826 | ||||||||
| 88,204 | Tokyo Steel Manufacturing Co Ltd | 973 | ||||||||
| 938,000 | Ton Yi Industrial Corp | 460 | ||||||||
| 183,078 | Tongkun Group Co Ltd | 436 | ||||||||
| 779,600 | Tongling Nonferrous Metals Group Co Ltd | 381 | ||||||||
| 1,394,737 | Toray Industries, Inc | 7,851 | ||||||||
| 244,768 | * | Torex Gold Resources, Inc | 1,890 | |||||||
| 398,773 | Tosoh Corp | 4,960 | ||||||||
| 6,200 | e | Toyo Gosei Co Ltd | 377 | |||||||
| 40,000 | Toyo Ink Manufacturing Co Ltd | 561 | ||||||||
| 153,200 | Toyo Seikan Kaisha Ltd | 1,607 | ||||||||
| 92,748 | Toyobo Co Ltd | 686 | ||||||||
| 5,268,000 | TPI Polene PCL | 233 | ||||||||
| 87,973 | e | Transcontinental, Inc | 1,046 | |||||||
| 290,910 | Transfar Zhilian Co Ltd | 280 | ||||||||
| 22,852 | Tredegar Corp | 229 | ||||||||
| 35,587 | Trimas Corp | 985 | ||||||||
| 29,428 | Trinseo plc | 1,132 | ||||||||
| 540,502 | Tronox Holdings plc | 9,080 | ||||||||
| 652,000 | TSRC Corp | 651 | ||||||||
| 676,990 | Tung Ho Steel Enterprise Corp | 1,182 | ||||||||
| 93,900 | * | Turquoise Hill Resources Ltd | 2,515 | |||||||
| 37,543 | UACJ Corp | 571 | ||||||||
| 257,126 | UBE Industries Ltd | 3,820 | ||||||||
| 114,606 | Ultra Tech Cement Ltd | 8,170 | ||||||||
| 218,874 | e | Umicore S.A. | 7,672 | |||||||
| 56,760 | Uniao de Industrias Petroquimicas S.A. | 988 | ||||||||
| 5,363 | Unid Co Ltd | 397 | ||||||||
| 817 | United States Lime & Minerals, Inc | 86 | ||||||||
| 290,835 | United States Steel Corp | 5,209 | ||||||||
| 512,000 | Universal Cement Corp | 379 | ||||||||
| 912,000 | UPC Technology Corp | 481 | ||||||||
| 581,750 | UPL Ltd | 4,671 | ||||||||
| 598,737 | UPM-Kymmene Oyj | 18,359 | ||||||||
| 139,641 | * | Usha Martin Ltd | 216 | |||||||
| 871,000 | USI Corp | 726 | ||||||||
| 5,159,183 | Vale S.A. | 75,474 | ||||||||
| 2,383 | Valhi, Inc | 108 | ||||||||
| 329,841 | Valvoline, Inc | 9,509 | ||||||||
| 87,592 | g | Verallia S.A. | 2,100 | |||||||
| 112 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 12,844 | e | Vetropack Holding AG. | $ | 532 | ||||||
| 51,304 | * | Victoria Gold Corp | 398 | |||||||
| 100,670 | Victrex plc | 2,195 | ||||||||
| 26,097 | * | Vinati Organics Ltd | 658 | |||||||
| 120,157 | e | Voestalpine AG. | 2,568 | |||||||
| 95,147 | *,e | Vulcan Energy Resources Ltd | 358 | |||||||
| 49,642 | Vulcan Materials Co | 7,054 | ||||||||
| 65,505 | Vulcan Steel Ltd | 346 | ||||||||
| 217,596 | Wanhua Chemical Group Co Ltd | 3,160 | ||||||||
| 138,925 | Warrior Met Coal, Inc | 4,253 | ||||||||
| 30,389 | Weihai Guangwei Composites Co Ltd | 268 | ||||||||
| 142,647 | Welspun-Gujarat Stahl Ltd | 397 | ||||||||
| 168,535 | * | Wesdome Gold Mines Ltd | 1,460 | |||||||
| 1,120,230 | * | West African Resources Ltd | 933 | |||||||
| 2,986,000 | West China Cement Ltd | 378 | ||||||||
| 84,583 | e | West Fraser Timber Co Ltd | 6,490 | |||||||
| 30,654 | * | Western Superconducting Technologies Co Ltd | 423 | |||||||
| 534,204 | Westgold Resources Ltd | 436 | ||||||||
| 272,637 | Westlake Chemical Corp | 26,724 | ||||||||
| 34,566 | WestRock Co | 1,377 | ||||||||
| 537,181 | Wheaton Precious Metals Corp | 19,356 | ||||||||
| 3,218,885 | Wienerberger AG. | 69,504 | ||||||||
| 39,106 | Winpak Ltd | 1,336 | ||||||||
| 25,927 | Worthington Industries, Inc | 1,143 | ||||||||
| 125,115 | Xiamen Tungsten Co Ltd | 405 | ||||||||
| 248,000 | Xinjiang Zhongtai Chemical Co Ltd | 288 | ||||||||
| 121,050 | * | Yamama Cement Co | 811 | |||||||
| 1,110,259 | Yamana Gold, Inc | 5,167 | ||||||||
| 48,705 | Yamato Kogyo Co Ltd | 1,610 | ||||||||
| 88,066 | Yanbu Cement Co | 796 | ||||||||
| 302,379 | Yanbu National Petrochemical Co | 4,073 | ||||||||
| 234,518 | Yara International ASA | 9,827 | ||||||||
| 362,000 | Yeun Chyang Industrial Co Ltd | 325 | ||||||||
| 978,000 | Yieh Phui Enterprise | 547 | ||||||||
| 234,323 | Yintai Gold Co Ltd | 338 | ||||||||
| 22,255 | Yodogawa Steel Works Ltd | 370 | ||||||||
| 29,300 | YongXing Special Materials Technology Co Ltd | 669 | ||||||||
| 10,657 | Youlchon Chemical Co Ltd | 160 | ||||||||
| 619 | Young Poong Corp | 251 | ||||||||
| 17,400 | * | Youngy Co Ltd | 401 | |||||||
| 1,377,000 | * | Yuen Foong Yu Paper Manufacturing Co Ltd | 1,180 | |||||||
| 435,477 | Yule Catto & Co plc | 1,195 | ||||||||
| 274,600 | Yunnan Aluminium Co Ltd | 405 | ||||||||
| 58,141 | Yunnan Energy New Material Co Ltd | 2,180 | ||||||||
| 124,300 | Yunnan Tin Co Ltd | 312 | ||||||||
| 155,016 | Zeon Corp | 1,504 | ||||||||
| 1,397,000 | e | Zhaojin Mining Industry Co Ltd | 1,207 | |||||||
| 110,178 | Zhejiang Huayou Cobalt Co Ltd | 1,579 | ||||||||
| 206,636 | Zhejiang Juhua Co Ltd | 407 | ||||||||
| 165,172 | Zhejiang Satellite Petrochemical Co Ltd | 639 | ||||||||
| 113 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 69,800 | Zhejiang Yongtai Technology Co Ltd | $ | 345 | |||||||
| 217,400 | Zibo Qixiang Tengda Chemical Co Ltd | 264 | ||||||||
| 35,886 | Zignago Vetro S.p.A. | 438 | ||||||||
| 6,677,232 | Zijin Mining Group Co Ltd | 8,125 | ||||||||
| 1,418,316 | Zijin Mining Group Co Ltd (Class A) | 1,976 | ||||||||
| TOTAL MATERIALS | 4,996,159 | |||||||||
| MEDIA & ENTERTAINMENT - 5.5% | ||||||||||
| 688,623 | Activision Blizzard, Inc | 53,616 | ||||||||
| 303,436 | * | Adevinta ASA | 2,234 | |||||||
| 2,497 | * | AdTheorent Holding Co, Inc | 8 | |||||||
| 71,920 | * | Advantage Solutions, Inc | 273 | |||||||
| 66,307 | * | Affle India Ltd | 894 | |||||||
| 9,742 | AfreecaTV Co Ltd | 605 | ||||||||
| 9,011,173 | * | Alibaba Pictures Group Ltd | 886 | |||||||
| 531,310 | * | Alphabet, Inc (Class A) | 1,157,863 | |||||||
| 551,671 | * | Alphabet, Inc (Class C) | 1,206,753 | |||||||
| 173,752 | * | Altice USA, Inc | 1,607 | |||||||
| 46,978 | *,e | AMC Entertainment Holdings, Inc | 637 | |||||||
| 25,257 | * | AMC Networks, Inc | 735 | |||||||
| 1,712 | APG SGA S.A. | 316 | ||||||||
| 17,107 | Arabian Contracting Services Co | 449 | ||||||||
| 206,000 | *,e,g | Archosaur Games, Inc | 149 | |||||||
| 1,744 | *,e | Arena Group Holdings, Inc | 16 | |||||||
| 147,636 | Arnoldo Mondadori Editore S.p.A. | 265 | ||||||||
| 506,851 | * | Ascential plc | 1,599 | |||||||
| 804,600 | Astro Malaysia Holdings BHD | 165 | ||||||||
| 93,964 | e | Atresmedia Corp de Medios de Comunicacion S.A. | 326 | |||||||
| 2,860,320 | g | Auto Trader Group plc | 19,372 | |||||||
| 57,123 | Autohome, Inc (ADR) | 2,247 | ||||||||
| 34,959 | Avex Group Holdings, Inc | 347 | ||||||||
| 50,250 | * | Baidu, Inc | 952 | |||||||
| 1,159,381 | * | Baidu, Inc (ADR) | 172,435 | |||||||
| 1,056,000 | BEC World PCL (Foreign) | 416 | ||||||||
| 80,157 | Beijing Enlight Media Co Ltd | 114 | ||||||||
| 39,187 | Beijing Kunlun Tech Co Ltd | 94 | ||||||||
| 20,018 | *,e | Believe S.A. | 166 | |||||||
| 70,200 | *,e | Bengo4.com, Inc | 1,987 | |||||||
| 34,910 | * | Better Collective A.S. | 467 | |||||||
| 405,930 | *,e | Bilibili, Inc (ADR) | 10,392 | |||||||
| 930,779 | Bollore | 4,339 | ||||||||
| 313,606 | * | Borussia Dortmund GmbH & Co KGaA | 1,181 | |||||||
| 15,919 | * | Boston Omaha Corp | 329 | |||||||
| 1,280,962 | Brightcom Group Ltd | 511 | ||||||||
| 13,800 | *,e | Bushiroad, Inc | 152 | |||||||
| 5,122 | Cable One, Inc | 6,604 | ||||||||
| 163,400 | Capcom Co Ltd | 3,975 | ||||||||
| 27,534 | * | Cardlytics, Inc | 614 | |||||||
| 146,025 | * | Cargurus, Inc | 3,138 | |||||||
| 51,712 | * | Cars.com, Inc | 488 | |||||||
| 789,465 | carsales.com Ltd | 10,034 | ||||||||
| 48,382 | * | CD Projekt Red S.A. | 1,039 | |||||||
| 114 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 185,646 | * | Charter Communications, Inc | $ | 86,981 | ||||||
| 79,255 | Cheil Communications, Inc | 1,456 | ||||||||
| 161,865 | *,† | Chennai Super Kings Cricket Ltd | 14 | |||||||
| 299,158 | *,g | China Literature Ltd | 1,449 | |||||||
| 32,208 | *,e | Cinemark Holdings, Inc | 484 | |||||||
| 76,218 | *,e | Cineplex Galaxy Income Fund | 640 | |||||||
| 1,123,723 | *,e | Cineworld Group plc | 289 | |||||||
| 25,963 | * | CJ CGV Co Ltd | 466 | |||||||
| 12,190 | CJ O Shopping Co Ltd | 882 | ||||||||
| 1,568,067 | * | Clear Channel | 1,678 | |||||||
| 1,146,000 | CMGE Technology Group Ltd | 338 | ||||||||
| 18,861 | e | Cogeco Communications, Inc | 1,276 | |||||||
| 6,411 | Cogeco, Inc | 340 | ||||||||
| 192,218 | * | COLOPL, Inc | 929 | |||||||
| 10,383 | Com2uSCorp | 573 | ||||||||
| 9,600,097 | Comcast Corp (Class A) | 376,708 | ||||||||
| 2,484,100 | * | Converge ICT Solutions, Inc | 957 | |||||||
| 759,140 | e | Corus Entertainment, Inc | 2,082 | |||||||
| 316,019 | * | CTS Eventim AG. | 16,670 | |||||||
| 14,974 | * | Cumulus Media Inc | 116 | |||||||
| 270,840 | CyberAgent, Inc | 2,713 | ||||||||
| 237,872 | Cyfrowy Polsat S.A. | 1,127 | ||||||||
| 43,831 | Daiichikosho Co Ltd | 1,278 | ||||||||
| 1,031 | * | Daily Journal Corp | 267 | |||||||
| 100,711 | * | Dena Co Ltd | 1,407 | |||||||
| 141,783 | e | Dentsu, Inc | 4,274 | |||||||
| 6,758 | Devsisters Co Ltd | 223 | ||||||||
| 99,365 | * | DHI Group, Inc | 494 | |||||||
| 6,320 | e | Digital Bros S.p.A | 168 | |||||||
| 43,064 | Dip Corp | 1,198 | ||||||||
| 22,500 | Direct Marketing MiX, Inc | 287 | ||||||||
| 262,834 | * | DISH Network Corp (Class A) | 4,713 | |||||||
| 297,010 | Domain Holdings Australia Ltd | 617 | ||||||||
| 180,124 | *,e | DouYu International Holdings Ltd (ADR) | 216 | |||||||
| 14,922 | Echo Marketing, Inc | 160 | ||||||||
| 251,793 | Electronic Arts, Inc | 30,631 | ||||||||
| 668,815 | *,e | Embracer Group AB | 5,137 | |||||||
| 107,000 | * | Entercom Communications Corp | 101 | |||||||
| 366,465 | *,e | Enthusiast Gaming Holdings, Inc | 726 | |||||||
| 341,696 | Entravision Communications Corp (Class A) | 1,558 | ||||||||
| 130,095 | Euromoney Institutional Investor plc | 2,132 | ||||||||
| 196,570 | Eutelsat Communications | 2,218 | ||||||||
| 131,298 | * | EVENT Hospitality and Entertainment Ltd | 1,180 | |||||||
| 227,666 | *,e | Eventbrite Inc | 2,338 | |||||||
| 3,151 | * | EverQuote Inc | 28 | |||||||
| 50,599 | * | EW Scripps Co (Class A) | 631 | |||||||
| 3,834,000 | *,†,e | Fire Rock Holdings Ltd | 205 | |||||||
| 1,119,907 | Focus Media Information Technology Co Ltd | 1,129 | ||||||||
| 278,077 | Fox Corp (Class A) | 8,943 | ||||||||
| 135,363 | Fox Corp (Class B) | 4,020 | ||||||||
| 26,553 | *,e | Frontier Developments plc | 442 | |||||||
| 389,160 | *,e | fuboTV, Inc | 961 | |||||||
| 115 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 51,600 | Fuji Television Network, Inc | $ | 437 | |||||||
| 348,615 | Future plc | 7,377 | ||||||||
| 12,600 | Gakken Co Ltd | 89 | ||||||||
| 1,345 | * | Gambling.com Group Ltd | 11 | |||||||
| 127,743 | * | Gannett Co, Inc | 370 | |||||||
| 2,170 | G-bits Network Technology Xiamen Co Ltd | 126 | ||||||||
| 108,365 | Giant Network Group Co Ltd | 149 | ||||||||
| 9,594 | * | Giantstep, Inc | 154 | |||||||
| 44,630 | Gray Television, Inc | 754 | ||||||||
| 71,750 | e | Gree, Inc | 435 | |||||||
| 2,726,229 | e | Grupo Televisa S.A. | 4,475 | |||||||
| 3,657,250 | Grupo Televisa SAB (ADR) | 29,916 | ||||||||
| 52,443 | * | GungHo Online Entertainment Inc | 930 | |||||||
| 185,337 | Hakuhodo DY Holdings, Inc | 1,702 | ||||||||
| 181,100 | e | Hello Group, Inc (ADR) | 915 | |||||||
| 43,744 | Hemnet Group AB | 539 | ||||||||
| 2,635,400 | * | Hong Seng Consolidated Bhd | 491 | |||||||
| 1,930,000 | *,e | Huanxi Media Group Ltd | 317 | |||||||
| 3,833,101 | *,e | HUYA, Inc (ADR) | 14,872 | |||||||
| 17,750 | * | HYBE Co Ltd | 1,994 | |||||||
| 196,723 | * | IAC | 14,945 | |||||||
| 4,607,612 | *,a | iClick Interactive Asia Group Ltd (ADR) | 3,096 | |||||||
| 796,000 | *,e,g | iDreamSky Technology Holdings Ltd | 588 | |||||||
| 977,000 | IGG, Inc | 424 | ||||||||
| 102,981 | * | iHeartMedia, Inc | 813 | |||||||
| 22,272 | * | Imax Corp | 376 | |||||||
| 80,497 | Info Edge India Ltd | 3,844 | ||||||||
| 1,655,516 | * | Informa plc | 10,696 | |||||||
| 129,200 | * | Infracommerce CXAAS S.A. | 111 | |||||||
| 9,128 | Innocean Worldwide, Inc | 323 | ||||||||
| 3,261 | * | Innovid Corp | 5 | |||||||
| 78,724 | * | Inox Leisure Ltd | 509 | |||||||
| 220,774 | * | Integral Ad Science Holding Corp | 2,192 | |||||||
| 98,000 | International Games System Co Ltd | 2,466 | ||||||||
| 426,365 | Interpublic Group of Cos, Inc | 11,738 | ||||||||
| 45,980 | e | IPSOS | 2,193 | |||||||
| 265,648 | *,e | IQIYI, Inc (ADR) | 1,116 | |||||||
| 4,206,924 | ITV plc | 3,359 | ||||||||
| 74,425 | * | JC Decaux S.A. | 1,253 | |||||||
| 5,908 | * | Jcontentree Corp | 157 | |||||||
| 9,201 | John Wiley & Sons, Inc (Class A) | 439 | ||||||||
| 1,261,000 | *,e | Joy Spreader Interactive Technology Ltd | 396 | |||||||
| 41,916 | e | JOYY, Inc (ADR) | 1,252 | |||||||
| 18,947 | * | Just Dial Ltd | 136 | |||||||
| 1,329,839 | *,e | Juventus Football Club S.p.A. | 505 | |||||||
| 32,412 | JYP Entertainment Corp | 1,206 | ||||||||
| 106,924 | Kadokawa Dwango Corp | 2,313 | ||||||||
| 318,271 | *,e | Kahoot! AS. | 591 | |||||||
| 104,814 | Kakaku.com, Inc | 1,741 | ||||||||
| 218,751 | Kakao Corp | 11,853 | ||||||||
| 37,701 | *,e | Kakao Games Corp | 1,433 | |||||||
| 99,700 | * | Kanzhun Ltd (ADR) | 2,620 | |||||||
| 116 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 16,502 | * | Kinepolis Group NV | $ | 794 | ||||||
| 703,110 | Kingsoft Corp Ltd | 2,747 | ||||||||
| 38,790 | e | Koei Tecmo Holdings Co Ltd | 1,258 | |||||||
| 69,457 | Konami Corp | 3,848 | ||||||||
| 26,346 | *,e,g | Krafton, Inc | 4,451 | |||||||
| 22,913 | KT Skylife Co Ltd | 145 | ||||||||
| 2,970,900 | *,g | Kuaishou Technology | 33,389 | |||||||
| 653 | * | Leafly Holdings, Inc | 3 | |||||||
| 14,151 | *,e | Liberty Braves Group (Class A) | 356 | |||||||
| 53,276 | * | Liberty Braves Group (Class C) | 1,279 | |||||||
| 21,488 | Liberty Broadband Corp (Class A) | 2,440 | ||||||||
| 128,339 | * | Liberty Broadband Corp (Class C) | 14,841 | |||||||
| 22,717 | * | Liberty Media Group (Class A) | 1,317 | |||||||
| 266,538 | * | Liberty Media Group (Class C) | 16,917 | |||||||
| 80,946 | Liberty SiriusXM Group (Class A) | 2,917 | ||||||||
| 142,840 | * | Liberty SiriusXM Group (Class C) | 5,149 | |||||||
| 171,538 | *,e | Lions Gate Entertainment Corp (Class A) | 1,597 | |||||||
| 99,245 | * | Lions Gate Entertainment Corp (Class B) | 876 | |||||||
| 130,932 | * | Live Nation, Inc | 10,812 | |||||||
| 27,558 | M6-Metropole Television | 409 | ||||||||
| 39,095 | * | Madison Square Garden Co | 5,903 | |||||||
| 20,820 | * | Madison Square Garden Entertainment Corp | 1,096 | |||||||
| 1,296,754 | * | Magnite, Inc | 11,515 | |||||||
| 668,500 | Major Cineplex Group PCL (Foreign) | 417 | ||||||||
| 69,622 | * | Mango Excellent Media Co Ltd | 348 | |||||||
| 20,546 | *,e | Marcus Corp | 303 | |||||||
| 1,711,720 | * | Match Group, Inc | 119,290 | |||||||
| 120,526 | *,e | Media and Games Invest plc | 291 | |||||||
| 7,562,200 | Media Nusantara Citra Tbk PT | 475 | ||||||||
| 3,953 | * | MediaAlpha, Inc | 39 | |||||||
| 183,216 | * | Mediaset Espana Comunicacion SA | 755 | |||||||
| 1,204,500 | e | Megacable Holdings SAB de C.V. | 2,927 | |||||||
| 2,632,500 | *,e,g | Meitu, Inc | 351 | |||||||
| 595,200 | * | Meliuz S.A. | 123 | |||||||
| 3,532,384 | *,n | Meta Platforms, Inc | 569,597 | |||||||
| 386,789 | e | MFE-MediaForEurope NV | 273 | |||||||
| 386,789 | *,e | MFE-MediaForEurope NV | 178 | |||||||
| 43,990 | Mixi Inc | 731 | ||||||||
| 18,289,700 | * | MNC Vision Networks Tbk PT | 140 | |||||||
| 575,000 | *,g | Mobvista, Inc | 385 | |||||||
| 121,791 | e | Modern Times Group MTG AB | 981 | |||||||
| 642,952 | Moneysupermarket.com Group plc | 1,361 | ||||||||
| 394,633 | MultiChoice Group Ltd | 2,809 | ||||||||
| 211,120 | Naver Corp | 39,379 | ||||||||
| 10,277 | * | Nazara Technologies Ltd | 88 | |||||||
| 11,283 | NCsoft | 3,046 | ||||||||
| 14,648 | * | Neowiz | 261 | |||||||
| 3,933 | *,e | NerdWallet, Inc | 31 | |||||||
| 295,500 | NetDragon Websoft, Inc | 635 | ||||||||
| 2,388,330 | NetEase, Inc | 44,995 | ||||||||
| 476,773 | * | Netflix, Inc | 83,373 | |||||||
| 13,374 | g | Netmarble Corp | 711 | |||||||
| 117 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 179,006 | * | Network 18 Media & Investments Ltd | $ | 157 | ||||||
| 145,110 | New York Times Co (Class A) | 4,049 | ||||||||
| 348,888 | News Corp (Class A) | 5,436 | ||||||||
| 103,408 | News Corp (Class B) | 1,643 | ||||||||
| 1,944,178 | Nexon Co Ltd | 39,923 | ||||||||
| 26,318 | * | Nexon Games Co Ltd | 311 | |||||||
| 34,989 | Nexstar Media Group Inc | 5,699 | ||||||||
| 94,536 | * | Next Fifteen Communications Group plc | 1,033 | |||||||
| 22,043 | * | NHN Corp | 475 | |||||||
| 1,685,001 | Nine Entertainment Co Holdings Ltd | 2,131 | ||||||||
| 149,747 | Nintendo Co Ltd | 64,400 | ||||||||
| 57,300 | Nippon Television Network Corp | 510 | ||||||||
| 85,354 | * | Nordic Entertainment Group AB | 1,753 | |||||||
| 184,677 | Omnicom Group, Inc | 11,747 | ||||||||
| 735,512 | oOh!media Ltd | 614 | ||||||||
| 32,860 | *,e | Outbrain, Inc | 165 | |||||||
| 36,576 | e | Paradox Interactive AB | 639 | |||||||
| 20,826 | * | Pearl Abyss Corp | 821 | |||||||
| 713,260 | Pearson plc | 6,532 | ||||||||
| 115,534 | Perfect World Co Ltd | 249 | ||||||||
| 43,179 | * | Perion Network Ltd | 793 | |||||||
| 567,515 | * | Pinterest, Inc | 10,306 | |||||||
| 2,651,900 | * | Plan B Media PCL | 492 | |||||||
| 38,072 | * | Playstudios, Inc | 163 | |||||||
| 99,444 | * | Playtika Holding Corp | 1,317 | |||||||
| 120,000 | *,e | PR Times, Inc | 1,844 | |||||||
| 204,250 | ProSiebenSat. Media AG. | 1,900 | ||||||||
| 285,071 | * | Publicis Groupe S.A. | 14,020 | |||||||
| 10,232 | *,e | PubMatic, Inc | 163 | |||||||
| 57,493 | * | PVR Ltd | 1,359 | |||||||
| 193,907 | Quebecor, Inc | 4,144 | ||||||||
| 42,411 | * | QuinStreet, Inc | 427 | |||||||
| 54,379 | REA Group Ltd | 4,199 | ||||||||
| 1,026 | * | Redbox Entertainment, Inc | 8 | |||||||
| 9,884 | e | Remedy Entertainment Oyj | 251 | |||||||
| 3,135 | * | Reservoir Media, Inc | 20 | |||||||
| 983,301 | Rightmove plc | 6,814 | ||||||||
| 394,696 | *,e | ROBLOX Corp | 12,970 | |||||||
| 123,023 | * | Roku, Inc | 10,105 | |||||||
| 46,023 | g | Rovio Entertainment Oyj | 317 | |||||||
| 483,600 | RS PCL | 208 | ||||||||
| 320,901 | * | S4 Capital plc | 900 | |||||||
| 90,349 | Sanoma-WSOY Oyj | 1,259 | ||||||||
| 64,820 | Saregama India Ltd | 297 | ||||||||
| 40,944 | * | Saudi Research & Marketing Group | 2,058 | |||||||
| 84,087 | Schibsted ASA | 1,519 | ||||||||
| 111,857 | Schibsted ASA (B Shares) | 1,832 | ||||||||
| 22,045 | Scholastic Corp | 793 | ||||||||
| 302,026 | g | Scout24 AG. | 15,559 | |||||||
| 377,883 | * | Sea Ltd (ADR) | 25,265 | |||||||
| 345,044 | Seek Ltd | 5,005 | ||||||||
| 1,389,800 | Septeni Holdings Co Ltd | 5,368 | ||||||||
| 118 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 443,026 | SES S.A. | $ | 3,878 | |||||||
| 567,248 | Shaw Communications, Inc (B Shares) | 16,715 | ||||||||
| 10,901 | * | Shochiku Co Ltd | 969 | |||||||
| 180,824 | Sinclair Broadcast Group, Inc (Class A) | 3,689 | ||||||||
| 757,824 | e | Sirius XM Holdings, Inc | 4,645 | |||||||
| 269,469 | *,e | Skillz, Inc | 334 | |||||||
| 785,500 | Sky Perfect Jsat Corp | 3,124 | ||||||||
| 20,358 | SM Entertainment Co | 991 | ||||||||
| 617,600 | *,† | SMI Holdings Group Ltd | 1 | |||||||
| 56,225 | Societe Television Francaise 1 | 399 | ||||||||
| 73,000 | Soft-World International Corp | 190 | ||||||||
| 35,400 | *,e | Sohu.com Ltd (ADR) | 587 | |||||||
| 318,354 | Southern Cross Media Group | 219 | ||||||||
| 134,616 | * | Spotify Technology S.A. | 12,631 | |||||||
| 15,800 | Square Enix Co Ltd | 701 | ||||||||
| 73,430 | * | Stagwell, Inc | 399 | |||||||
| 1,637,779 | *,e | Stillfront Group AB | 3,636 | |||||||
| 50,512 | *,e | Storytel AB | 242 | |||||||
| 39,058 | Stroer Out-of-Home Media AG. | 1,764 | ||||||||
| 103,962 | Sun TV Network Ltd | 545 | ||||||||
| 20,049,400 | * | Surya Citra Media Tbk PT | 296 | |||||||
| 232,542 | * | Taboola.com Ltd | 588 | |||||||
| 592,378 | * | Take-Two Interactive Software, Inc | 72,584 | |||||||
| 3,343 | Tamedia AG. | 403 | ||||||||
| 201,967 | * | Team17 Group plc | 947 | |||||||
| 233,545 | * | Technicolor S.A. | 691 | |||||||
| 49,075 | * | TechTarget, Inc | 3,225 | |||||||
| 309,948 | TEGNA, Inc | 6,500 | ||||||||
| 53,346 | Telenet Group Holding NV | 1,108 | ||||||||
| 9,308,459 | Tencent Holdings Ltd | 421,349 | ||||||||
| 511,797 | * | Tencent Music Entertainment (ADR) | 2,569 | |||||||
| 17,050 | * | Thryv Holdings, Inc | 382 | |||||||
| 9,600 | e | Toei Animation Co Ltd | 766 | |||||||
| 7,284 | Toei Co Ltd | 953 | ||||||||
| 72,545 | Toho Co Ltd | 2,628 | ||||||||
| 44,300 | Tokyo Broadcasting System, Inc | 556 | ||||||||
| 389,360 | * | Tongdao Liepin Group | 495 | |||||||
| 104,881 | *,e | Tremor International Ltd | 448 | |||||||
| 345,309 | Trinity Mirror plc | 422 | ||||||||
| 86,163 | * | TripAdvisor, Inc | 1,534 | |||||||
| 78,210 | * | TrueCar, Inc | 203 | |||||||
| 252,068 | *,g | Trustpilot Group plc | 309 | |||||||
| 24,551 | TV Asahi Corp | 268 | ||||||||
| 556,747 | * | TV18 Broadcast Ltd | 276 | |||||||
| 1,595,010 | * | Twitter, Inc | 59,637 | |||||||
| 98,192 | * | Ubisoft Entertainment | 4,331 | |||||||
| 1,582,033 | e | Universal Music Group NV | 31,698 | |||||||
| 6,740 | * | Urban One, Inc | 37 | |||||||
| 9,657 | * | Urban One, Inc | 41 | |||||||
| 18,858 | ValueCommerce Co Ltd | 439 | ||||||||
| 32,335 | Vector, Inc | 231 | ||||||||
| 5,540,900 | VGI PCL | 782 | ||||||||
| 119 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 8,841 | e | ViacomCBS, Inc (Class A) | $ | 241 | ||||||
| 967,565 | ViacomCBS, Inc (Class B) | 23,879 | ||||||||
| 26,220 | * | Vimeo, Inc | 158 | |||||||
| 1,577,468 | Vivendi Universal S.A. | 16,098 | ||||||||
| 3,321,343 | * | Walt Disney Co | 313,535 | |||||||
| 2,792,496 | * | Warner Bros Discovery, Inc | 37,475 | |||||||
| 19,068 | * | Webzen, Inc | 271 | |||||||
| 52,126 | *,e | Weibo Corp (ADR) | 1,206 | |||||||
| 3,406 | *,e | Wejo Group Ltd | 4 | |||||||
| 21,429 | e | WeMade Entertainment Co Ltd | 959 | |||||||
| 1,093,544 | * | West Australian Newspapers Holdings Ltd | 309 | |||||||
| 322,506 | * | WideOpenWest, Inc | 5,873 | |||||||
| 43,086 | e | World Wrestling Entertainment, Inc (Class A) | 2,692 | |||||||
| 1,276,852 | WPP plc | 12,898 | ||||||||
| 84,523 | Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd | 269 | ||||||||
| 26,629 | * | Wysiwyg Studios Co Ltd | 410 | |||||||
| 247,000 | *,e | XD, Inc | 644 | |||||||
| 153,168 | * | Yelp, Inc | 4,253 | |||||||
| 14,705 | YG Entertainment, Inc | 502 | ||||||||
| 125,871 | YouGov plc | 1,318 | ||||||||
| 2,731,339 | Z Holdings Corp | 7,943 | ||||||||
| 1,011,695 | ZEE Telefilms Ltd | 2,758 | ||||||||
| 36,550 | Zenrin Co Ltd | 249 | ||||||||
| 613,213 | * | Zhejiang Century Huatong Group Co Ltd | 443 | |||||||
| 137,357 | * | Ziff Davis Inc | 10,237 | |||||||
| 14,523 | * | ZipRecruiter, Inc | 215 | |||||||
| 630,384 | *,e | ZoomInfo Technologies, Inc | 20,954 | |||||||
| TOTAL MEDIA & ENTERTAINMENT | 5,813,843 | |||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.0% | ||||||||||
| 47,994 | * | 10X Genomics, Inc | 2,172 | |||||||
| 31,077 | * | 2seventy bio, Inc | 410 | |||||||
| 1,191,651 | g | 3SBio, Inc | 950 | |||||||
| 24,986 | * | 4D Molecular Therapeutics, Inc | 174 | |||||||
| 2,223 | * | Aadi Bioscience, Inc | 27 | |||||||
| 33,648 | Aarti Drugs Ltd | 173 | ||||||||
| 29,604 | *,e | AB Science S.A. | 256 | |||||||
| 4,508,995 | AbbVie, Inc | 690,598 | ||||||||
| 491,176 | * | Abcam plc | 7,060 | |||||||
| 115,132 | *,e | AbCellera Biologics, Inc | 1,226 | |||||||
| 35,827 | * | ABLBio, Inc | 695 | |||||||
| 46,068 | *,e | Absci Corp | 153 | |||||||
| 250,503 | * | Acadia Pharmaceuticals, Inc | 3,530 | |||||||
| 83,911 | *,e | Aclaris Therapeutics, Inc | 1,171 | |||||||
| 42,365 | * | Adagio Therapeutics, Inc | 139 | |||||||
| 91,344 | * | Adaptive Biotechnologies Corp | 739 | |||||||
| 93,331 | Adcock Ingram Holdings Ltd | 286 | ||||||||
| 130,924 | AddLife AB | 1,974 | ||||||||
| 35,154 | *,e | Adicet Bio, Inc | 513 | |||||||
| 370,000 | Adimmune Corp | 487 | ||||||||
| 405,438 | *,e | ADMA Biologics, Inc | 803 | |||||||
| 115,491 | *,e | Aerie Pharmaceuticals, Inc | 866 | |||||||
| 120 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 8,337 | *,e | Aerovate Therapeutics, Inc | $ | 130 | ||||||
| 275,837 | *,e | Affimed NV | 764 | |||||||
| 701,638 | * | Agenus, Inc | 1,361 | |||||||
| 131,110 | Agilent Technologies, Inc | 15,572 | ||||||||
| 45,730 | * | Agios Pharmaceuticals, Inc | 1,014 | |||||||
| 13,115 | * | Ajanta Pharma Ltd | 205 | |||||||
| 26,229 | Ajanta Pharma Ltd | 411 | ||||||||
| 22,619 | * | Akero Therapeutics, Inc | 214 | |||||||
| 518,000 | *,g | Akeso, Inc | 1,529 | |||||||
| 4,178 | *,e | Akoya Biosciences, Inc | 54 | |||||||
| 2,766 | * | Albireo Pharma, Inc | 55 | |||||||
| 51,557 | * | Alector, Inc | 524 | |||||||
| 64,664 | Alembic Pharmaceuticals Ltd | 597 | ||||||||
| 154,860 | * | ALK-Abello A.S. | 2,698 | |||||||
| 502,122 | * | Alkermes plc | 14,958 | |||||||
| 1,089,502 | Alliance Pharma plc | 1,515 | ||||||||
| 284,938 | *,e | Allogene Therapeutics, Inc | 3,248 | |||||||
| 26,147 | *,e | Allovir, Inc | 102 | |||||||
| 91,483 | Almirall S.A. | 1,017 | ||||||||
| 40,175 | * | Alnylam Pharmaceuticals, Inc | 5,860 | |||||||
| 3,789 | *,e | Alpha Teknova, Inc | 32 | |||||||
| 486,000 | *,e,g | Alphamab Oncology | 505 | |||||||
| 8,978 | *,e | Alpine Immune Sciences, Inc | 76 | |||||||
| 15,849 | * | Alteogen, Inc | 748 | |||||||
| 1,941,973 | * | Altimmune, Inc | 22,721 | |||||||
| 18,336 | *,e | ALX Oncology Holdings, Inc | 148 | |||||||
| 478,331 | Amgen, Inc | 116,378 | ||||||||
| 37,889 | * | Amicogen, Inc | 677 | |||||||
| 434,490 | * | Amicus Therapeutics, Inc | 4,666 | |||||||
| 1,095,678 | * | Amneal Pharmaceuticals, Inc | 3,484 | |||||||
| 215,958 | * | Amphastar Pharmaceuticals, Inc | 7,513 | |||||||
| 7,922 | *,e | Amylyx Pharmaceuticals, Inc | 153 | |||||||
| 687 | *,e | AN2 Therapeutics, Inc | 5 | |||||||
| 103,210 | *,e | AnaptysBio, Inc | 2,095 | |||||||
| 11,984 | *,e | Anavex Life Sciences Corp | 120 | |||||||
| 314,772 | *,e | AnGes MG, Inc | 784 | |||||||
| 10,557 | *,e | ANI Pharmaceuticals, Inc | 313 | |||||||
| 12,260 | * | Anika Therapeutics, Inc | 274 | |||||||
| 533,000 | *,g | Antengene Corp Ltd | 480 | |||||||
| 1,287,120 | *,† | Anxin-China Holdings Ltd | 2 | |||||||
| 105,552 | * | Apellis Pharmaceuticals, Inc | 4,773 | |||||||
| 39,971 | Apeloa Pharmaceutical Co Ltd | 123 | ||||||||
| 17,654 | * | AptaBio Therapeutics, Inc | 211 | |||||||
| 52,435 | *,e | Arbutus Biopharma Corp | 142 | |||||||
| 8,066 | * | Arcellx, Inc | 146 | |||||||
| 6,234 | *,e | Arcturus Therapeutics Holdings, Inc | 98 | |||||||
| 42,883 | * | Arcus Biosciences, Inc | 1,087 | |||||||
| 85,160 | * | Arcutis Biotherapeutics, Inc | 1,815 | |||||||
| 54,270 | * | Argenx SE | 20,457 | |||||||
| 1,516 | * | Argenx SE | 568 | |||||||
| 228,796 | * | Arrowhead Pharmaceuticals Inc | 8,056 | |||||||
| 22,324 | * | Arvinas, Inc | 940 | |||||||
| 121 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 178,500 | *,e,g | Ascentage Pharma Group International | $ | 487 | ||||||
| 444,000 | *,g | Ascletis Pharma, Inc | 215 | |||||||
| 352,528 | Aspen Pharmacare Holdings Ltd | 3,030 | ||||||||
| 2,941,284 | Astellas Pharma, Inc | 45,889 | ||||||||
| 5,453 | AstraZeneca Pharma India Ltd | 187 | ||||||||
| 3,759,637 | AstraZeneca plc | 495,978 | ||||||||
| 1,904,100 | AstraZeneca plc (ADR) | 125,804 | ||||||||
| 10,116 | Asymchem Laboratories Tianjin Co Ltd | 437 | ||||||||
| 66,857 | * | Atara Biotherapeutics, Inc | 521 | |||||||
| 64,024 | * | Atea Pharmaceuticals, Inc | 455 | |||||||
| 29,562 | *,e | Athira Pharma, Inc | 90 | |||||||
| 2,799 | *,e | Aura Biosciences, Inc | 40 | |||||||
| 24,375 | * | Aurinia Pharmaceuticals, Inc | 245 | |||||||
| 194,618 | Aurobindo Pharma Ltd | 1,267 | ||||||||
| 331,029 | *,e | Aurora Cannabis, Inc | 437 | |||||||
| 293,590 | *,e | Avacta Group plc | 388 | |||||||
| 3,729,342 | *,e | Avantor, Inc | 115,983 | |||||||
| 59,847 | * | Avid Bioservices, Inc | 913 | |||||||
| 40,879 | *,e | Avidity Biosciences, Inc | 594 | |||||||
| 328,502 | *,e | Axsome Therapeutics, Inc | 12,582 | |||||||
| 31,840 | Bachem Holding AG. | 2,219 | ||||||||
| 14,592 | *,e | Basilea Pharmaceutica | 591 | |||||||
| 321,462 | * | Bausch Health Cos, Inc | 2,687 | |||||||
| 82,798 | * | Bavarian Nordic AS | 2,755 | |||||||
| 6,110,709 | Bayer AG. | 364,909 | ||||||||
| 11,866 | *,e | Beam Therapeutics, Inc | 459 | |||||||
| 53,158 | * | BeiGene Ltd (ADR) | 8,604 | |||||||
| 35,391 | * | Beijing Tiantan Biological Products Corp Ltd | 129 | |||||||
| 298,000 | Beijing Tong Ren Tang Chinese Medicine Co Ltd | 483 | ||||||||
| 34,875 | Beijing Wantai Biological Pharmacy Enterprise Co Ltd | 810 | ||||||||
| 107,958 | *,e | BELLUS Health, Inc | 994 | |||||||
| 49,958 | *,e | Berkeley Lights, Inc | 248 | |||||||
| 15,861 | Betta Pharmaceuticals Co Ltd | 144 | ||||||||
| 18,220 | BGI Genomics Co Ltd | 195 | ||||||||
| 28,944 | * | Binex Co Ltd | 288 | |||||||
| 45,197 | *,g | BioArctic AB | 343 | |||||||
| 465,557 | Biocon Ltd | 1,823 | ||||||||
| 449,999 | * | BioCryst Pharmaceuticals, Inc | 4,761 | |||||||
| 103,785 | BioGaia AB | 1,056 | ||||||||
| 98,469 | * | Biogen, Inc | 20,082 | |||||||
| 49,484 | * | Biohaven Pharmaceutical Holding Co Ltd | 7,210 | |||||||
| 207,508 | * | BioMarin Pharmaceutical, Inc | 17,196 | |||||||
| 243,589 | *,e | Bionano Genomics, Inc | 336 | |||||||
| 26,701 | * | Bioneer Corp | 506 | |||||||
| 92,299 | BioNTech SE (ADR) | 13,762 | ||||||||
| 18,312 | * | Bio-Rad Laboratories, Inc (Class A) | 9,064 | |||||||
| 78,839 | Biotage AB | 1,403 | ||||||||
| 17,898 | Bio-Techne Corp | 6,204 | ||||||||
| 16,069 | *,e | Bioxcel Therapeutics Inc | 212 | |||||||
| 45,000 | Blau Farmaceutica S.A. | 215 | ||||||||
| 22,229 | Bloomage Biotechnology Corp Ltd | 474 | ||||||||
| 61,351 | *,e | Bluebird Bio, Inc | 254 | |||||||
| 122 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 81,130 | * | Blueprint Medicines Corp | $ | 4,098 | ||||||
| 5,035 | Boiron S.A. | 217 | ||||||||
| 33,485 | Boryung Pharmaceutical Co Ltd | 262 | ||||||||
| 256,329 | *,e | Bridgebio Pharma, Inc | 2,327 | |||||||
| 291,500 | *,e | Brii Biosciences Ltd | 314 | |||||||
| 5,146,032 | Bristol-Myers Squibb Co | 396,244 | ||||||||
| 112,007 | Brooks Automation, Inc | 8,076 | ||||||||
| 96,017 | Bruker BioSciences Corp | 6,026 | ||||||||
| 54,841 | Bukwang Pharmaceutical Co Ltd | 358 | ||||||||
| 52,000 | *,e | Burning Rock Biotech Ltd (ADR) | 151 | |||||||
| 41,960 | *,e | C4 Therapeutics, Inc | 316 | |||||||
| 36,048 | *,e | Calliditas Therapeutics AB | 326 | |||||||
| 36,462 | *,e | Camurus AB | 693 | |||||||
| 292,993 | *,e | Canopy Growth Corp (Toronto) | 833 | |||||||
| 70,875 | *,e,g | CanSino Biologics, Inc | 727 | |||||||
| 5,458 | * | CanSino Biologics, Inc | 162 | |||||||
| 18,186 | Caplin Point Laboratories Ltd | 164 | ||||||||
| 39,235 | *,e | Cara Therapeutics, Inc | 358 | |||||||
| 71,016 | * | CareDx, Inc | 1,525 | |||||||
| 4,289 | Caregen Co Ltd | 319 | ||||||||
| 75,495 | *,e | Caribou Biosciences, Inc | 410 | |||||||
| 132,000 | *,e,g | CARsgen Therapeutics Holdings Ltd | 246 | |||||||
| 6,093 | *,e | Cassava Sciences, Inc | 171 | |||||||
| 73,112 | * | Catalent, Inc | 7,844 | |||||||
| 459,107 | * | Catalyst Pharmaceuticals, Inc | 3,218 | |||||||
| 31,378 | * | Celldex Therapeutics, Inc | 846 | |||||||
| 47,305 | *,e | CELLINK AB | 413 | |||||||
| 15,943 | * | Cellivery Therapeutics, Inc | 287 | |||||||
| 33,600 | *,e | CellSource Co Ltd | 957 | |||||||
| 11,121 | * | Celltrion Pharm Inc | 677 | |||||||
| 110,949 | e | Celltrion, Inc | 15,317 | |||||||
| 2,374 | *,e | Celularity, Inc | 8 | |||||||
| 422,000 | Center Laboratories, Inc | 857 | ||||||||
| 17,390 | *,e | Century Therapeutics, Inc | 146 | |||||||
| 8,490 | *,e | Cerevel Therapeutics Holdings, Inc | 224 | |||||||
| 15,114 | Changchun High & New Technology Industry Group, Inc | 528 | ||||||||
| 86,681 | * | Charles River Laboratories International, Inc | 18,547 | |||||||
| 345,942 | * | ChemoCentryx, Inc | 8,572 | |||||||
| 30,836 | Chemometec A.S. | 3,314 | ||||||||
| 33,106 | * | Chimerix, Inc | 69 | |||||||
| 1,632,500 | China Grand Pharmaceutical and Healthcare Holdings Ltd | 947 | ||||||||
| 1,020,660 | China Medical System Holdings Ltd | 1,591 | ||||||||
| 44,120 | China Resources Sanjiu Medical & Pharmaceutical Co Ltd | 297 | ||||||||
| 540,000 | China Shineway Pharmaceutical Group Ltd | 463 | ||||||||
| 185,726 | * | Chinook Therapeutics, Inc | 3,248 | |||||||
| 8,720 | Chong Kun Dang Pharmaceutical Corp | 589 | ||||||||
| 62,980 | Chongqing Zhifei Biological Products Co Ltd | 1,046 | ||||||||
| 12,826 | Choongwae Pharma Corp | 223 | ||||||||
| 342,406 | Chugai Pharmaceutical Co Ltd | 8,759 | ||||||||
| 11,113 | * | CinCor Pharma, Inc | 209 | |||||||
| 346,878 | Cipla Ltd | 4,037 | ||||||||
| 3,094,000 | e | CK Life Sciences International Holdings, Inc | 316 | |||||||
| 123 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 50,612 | Clinuvel Pharmaceuticals Ltd | $ | 519 | |||||||
| 128,443 | * | CMG Pharmaceutical Co Ltd | 247 | |||||||
| 464,353 | * | Codexis, Inc | 4,857 | |||||||
| 83,269 | *,e | Cogent Biosciences, Inc | 751 | |||||||
| 11,386 | * | Coherus Biosciences, Inc | 82 | |||||||
| 6,307 | * | Collegium Pharmaceutical, Inc | 112 | |||||||
| 291,437 | * | Columbia Care, Inc | 387 | |||||||
| 82,740 | * | Corcept Therapeutics, Inc | 1,968 | |||||||
| 10,218 | e | COSMO Pharmaceuticals NV | 501 | |||||||
| 38,126 | * | Crinetics Pharmaceuticals, Inc | 711 | |||||||
| 246,061 | *,e | Cronos Group, Inc | 688 | |||||||
| 478,968 | CSL Ltd | 88,932 | ||||||||
| 8,490,054 | CSPC Pharmaceutical Group Ltd | 8,486 | ||||||||
| 1,095,500 | *,e,g | CStone Pharmaceuticals | 735 | |||||||
| 62,831 | * | CTI BioPharma Corp | 375 | |||||||
| 25,268 | *,e | Cullinan Oncology, Inc | 324 | |||||||
| 46,820 | *,e | CureVac NV | 637 | |||||||
| 132,948 | *,e | Cytek Biosciences, Inc | 1,427 | |||||||
| 95,719 | *,e | Cytokinetics, Inc | 3,761 | |||||||
| 92,371 | Da An Gene Co Ltd of Sun Yat-Sen University | 237 | ||||||||
| 71,900 | Daewoong Co Ltd | 1,513 | ||||||||
| 5,623 | Daewoong Pharmaceutical Co Ltd | 767 | ||||||||
| 4,207,501 | Daiichi Sankyo Co Ltd | 107,007 | ||||||||
| 1,209,710 | Danaher Corp | 306,686 | ||||||||
| 19,856 | *,e | Day One Biopharmaceuticals, Inc | 355 | |||||||
| 700,653 | Dechra Pharmaceuticals plc | 29,543 | ||||||||
| 28,513 | * | Deciphera Pharmaceuticals, Inc | 375 | |||||||
| 42,825 | * | Denali Therapeutics, Inc | 1,260 | |||||||
| 25,187 | Dermapharm Holding SE | 1,255 | ||||||||
| 27,816 | * | Design Therapeutics, Inc | 389 | |||||||
| 23,716 | *,e | DICE Therapeutics, Inc | 368 | |||||||
| 92,963 | Divi S Laboratories Ltd | 4,285 | ||||||||
| 4,837 | Dong-A Pharmaceutical Co Ltd | 382 | ||||||||
| 7,833 | Dong-A ST Co Ltd | 352 | ||||||||
| 43,371 | Dong-E-E-Jiao Co Ltd | 240 | ||||||||
| 33,661 | DongKook Pharmaceutical Co Ltd | 506 | ||||||||
| 183,177 | Dr Reddy’s Laboratories Ltd | 10,212 | ||||||||
| 452,020 | Duopharma Biotech Bhd | 123 | ||||||||
| 539,615 | *,e | Dynavax Technologies Corp | 6,794 | |||||||
| 30,191 | *,e | Dyne Therapeutics, Inc | 207 | |||||||
| 35,486 | * | Eagle Pharmaceuticals, Inc | 1,577 | |||||||
| 26,541 | * | Edgewise Therapeutics, Inc | 211 | |||||||
| 82,497 | *,e | Editas Medicine, Inc | 976 | |||||||
| 11,421 | * | Eiger BioPharmaceuticals, Inc | 72 | |||||||
| 244,000 | * | EirGenix, Inc | 736 | |||||||
| 45,418 | Eisai Co Ltd | 1,920 | ||||||||
| 307,503 | * | Elanco Animal Health, Inc | 6,036 | |||||||
| 1,315,026 | Eli Lilly & Co | 426,371 | ||||||||
| 40,923 | * | Emergent Biosolutions, Inc | 1,270 | |||||||
| 14,958 | * | Enanta Pharmaceuticals, Inc | 707 | |||||||
| 81,710 | *,e | Endo International plc | 38 | |||||||
| 15,912 | *,e | Enochian Biosciences Inc | 31 | |||||||
| 124 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 113,981 | *,e | EQRx, Inc | $ | 535 | ||||||
| 56,163 | *,e | Erasca, Inc | 313 | |||||||
| 44,152 | * | Ergomed plc | 546 | |||||||
| 34,908 | g | Eris Lifesciences Ltd | 295 | |||||||
| 11,892 | *,e | Esperion Thereapeutics, Inc | 76 | |||||||
| 31,808 | * | Eubiologics Co Ltd | 358 | |||||||
| 100,389 | * | Euroapi S.A. | 1,584 | |||||||
| 140,882 | Eurofins Scientific SE | 11,127 | ||||||||
| 40,100 | Ever Supreme Bio Technology Co Ltd | 237 | ||||||||
| 177,500 | *,e,g | Everest Medicines Ltd | 510 | |||||||
| 345,404 | * | Evolus, Inc | 4,007 | |||||||
| 165,872 | * | Evotec AG. | 4,021 | |||||||
| 125,770 | * | Exact Sciences Corp | 4,954 | |||||||
| 369,165 | *,e | Exelixis, Inc | 7,686 | |||||||
| 14,000 | *,e | EyePoint Pharmaceuticals, Inc | 110 | |||||||
| 592,645 | Faes Farma S.A. (Sigma) | 2,417 | ||||||||
| 145,751 | *,e | Fate Therapeutics, Inc | 3,612 | |||||||
| 49,876 | * | FDC Ltd | 151 | |||||||
| 19,273 | * | FibroGen, Inc | 204 | |||||||
| 5,641 | * | Foghorn Therapeutics, Inc | 77 | |||||||
| 85,832 | * | Forma Therapeutics Holdings, Inc | 591 | |||||||
| 28,947 | *,e | Fulcrum Therapeutics, Inc | 142 | |||||||
| 1,962 | *,e | Galapagos NV | 109 | |||||||
| 52,019 | * | Galapagos NV | 2,891 | |||||||
| 1,424 | * | Gelesis Holdings, Inc | 2 | |||||||
| 83,915 | * | GeneOne Life Science, Inc | 666 | |||||||
| 143,662 | * | Generation Bio Co | 942 | |||||||
| 23,184 | * | Genexine Co Ltd | 547 | |||||||
| 48,295 | * | Genmab AS | 15,669 | |||||||
| 890,900 | e | Genomma Lab Internacional S.A. de C.V. | 892 | |||||||
| 991,386 | * | Genscript Biotech Corp | 3,605 | |||||||
| 77,728 | Genus plc | 2,373 | ||||||||
| 145,817 | *,e | Geron Corp | 226 | |||||||
| 37,106 | Gerresheimer AG. | 2,424 | ||||||||
| 1,952,188 | Gilead Sciences, Inc | 120,665 | ||||||||
| 34,324 | GlaxoSmithKline Pharmaceuticals Ltd | 652 | ||||||||
| 6,718,750 | GlaxoSmithKline plc | 144,800 | ||||||||
| 226,908 | Glenmark Pharmaceuticals Ltd | 1,113 | ||||||||
| 187,120 | * | Global Blood Therapeutics, Inc | 5,978 | |||||||
| 48,601 | *,e | GNI Group Ltd | 452 | |||||||
| 13,910 | *,e | Gossamer Bio, Inc | 116 | |||||||
| 171,753 | Granules India Ltd | 594 | ||||||||
| 3,770 | Green Cross Corp | 490 | ||||||||
| 25,795 | Green Cross Holdings Corp | 390 | ||||||||
| 11,962 | Green Cross LabCell Corp | 518 | ||||||||
| 2,155 | * | GreenLight Biosciences Holdings PBC | 5 | |||||||
| 41,584 | *,e | Grifols S.A. | 789 | |||||||
| 86,512 | Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd | 408 | ||||||||
| 323,512 | H Lundbeck A.S. | 1,571 | ||||||||
| 80,878 | * | H Lundbeck A.S. | 388 | |||||||
| 506,353 | * | Halozyme Therapeutics, Inc | 22,280 | |||||||
| 37,953 | * | Hanall Biopharma Co Ltd | 483 | |||||||
| 125 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 10,721 | Hangzhou Tigermed Consulting Co Ltd - A | $ | 184 | |||||||
| 88,053 | g | Hangzhou Tigermed Consulting Co Ltd - H | 1,021 | |||||||
| 4,361 | Hanmi Pharm Co Ltd | 1,039 | ||||||||
| 891,839 | g | Hansoh Pharmaceutical Group Co Ltd | 1,806 | |||||||
| 223,651 | *,e | Harmony Biosciences Holdings, Inc | 10,907 | |||||||
| 176,000 | Haw Par Corp Ltd | 1,392 | ||||||||
| 41,052 | * | Helixmith Co Ltd | 659 | |||||||
| 16,922 | *,e | Heron Therapeutics, Inc | 47 | |||||||
| 39,992 | Hikal Ltd | 121 | ||||||||
| 23,911 | Hikma Pharmaceuticals plc | 472 | ||||||||
| 8,815 | *,e | HilleVax, Inc | 96 | |||||||
| 53,400 | Hisamitsu Pharmaceutical Co, Inc | 1,380 | ||||||||
| 13,177 | e | HK inno N Corp | 386 | |||||||
| 1,529,878 | * | Horizon Therapeutics Plc | 122,023 | |||||||
| 2,548,684 | *,†,e | Hua Han Health Industry Holdings Ltd | 20 | |||||||
| 919,000 | *,g | Hua Medicine | 437 | |||||||
| 77,920 | Hualan Biological Engineering, Inc | 266 | ||||||||
| 8,704 | * | Hugel, Inc | 706 | |||||||
| 2,707 | *,e | Humacyte, Inc | 9 | |||||||
| 74,354 | Humanwell Healthcare Group Co Ltd | 178 | ||||||||
| 10,142 | Huons Co Ltd | 276 | ||||||||
| 65,680 | *,e | Hutchison China MediTech Ltd (ADR) | 830 | |||||||
| 641,944 | Hypermarcas S.A. | 4,666 | ||||||||
| 19,807 | *,e | Icosavax, Inc | 113 | |||||||
| 30,357 | * | Ideaya Biosciences, Inc | 419 | |||||||
| 135,606 | *,e | Idorsia Ltd | 1,943 | |||||||
| 41,192 | *,e | IGM Biosciences, Inc | 743 | |||||||
| 18,414 | * | Il Dong Pharmaceutical Co Ltd | 438 | |||||||
| 276,386 | * | Illumina, Inc | 50,955 | |||||||
| 28,716 | Ilyang Pharmaceutical Co Ltd | 492 | ||||||||
| 52,300 | *,e | I-Mab (ADR) | 591 | |||||||
| 12,216 | *,e | Imago Biosciences, Inc | 164 | |||||||
| 11,600 | Imeik Technology Development Co Ltd | 1,042 | ||||||||
| 28,032 | *,e | ImmunityBio, Inc | 104 | |||||||
| 389,448 | * | Immunogen, Inc | 1,753 | |||||||
| 32,805 | *,e | Immunovant, Inc | 128 | |||||||
| 6,074,528 | *,e | Imugene Ltd | 756 | |||||||
| 143,796 | * | Incyte Corp | 10,924 | |||||||
| 821,416 | * | Indivior plc | 3,097 | |||||||
| 5,238 | *,e | Inhibrx, Inc | 59 | |||||||
| 738,073 | *,g | Innovent Biologics, Inc | 3,302 | |||||||
| 318,339 | * | Innoviva, Inc | 4,699 | |||||||
| 65,908 | *,e | Inotiv, Inc | 633 | |||||||
| 187,120 | *,e | Inovio Pharmaceuticals, Inc | 324 | |||||||
| 92,943 | * | Insmed, Inc | 1,833 | |||||||
| 57,206 | *,e | Instil Bio, Inc | 264 | |||||||
| 163,174 | * | Intellia Therapeutics, Inc | 8,446 | |||||||
| 68,559 | *,e | Intercept Pharmaceuticals, Inc | 947 | |||||||
| 74,225 | * | Intra-Cellular Therapies, Inc | 4,237 | |||||||
| 35,837 | * | iNtRON Biotechnology, Inc | 248 | |||||||
| 45,667 | * | Ionis Pharmaceuticals, Inc | 1,691 | |||||||
| 491,561 | * | Iovance Biotherapeutics, Inc | 5,427 | |||||||
| 126 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 159,022 | Ipca Laboratories Ltd | $ | 1,812 | |||||||
| 32,865 | Ipsen | 3,112 | ||||||||
| 344,070 | * | IQVIA Holdings, Inc | 74,660 | |||||||
| 907,652 | *,e | Ironwood Pharmaceuticals, Inc | 10,465 | |||||||
| 17,785 | * | iTeos Therapeutics, Inc | 366 | |||||||
| 239,427 | * | IVERIC bio, Inc | 2,303 | |||||||
| 268,500 | *,g | Jacobio Pharmaceuticals Group Co Ltd | 210 | |||||||
| 15,411 | *,e | Janux Therapeutics, Inc | 188 | |||||||
| 76,816 | * | Jazz Pharmaceuticals plc | 11,984 | |||||||
| 35,325 | JB Chemicals & Pharmaceuticals Ltd | 705 | ||||||||
| 218,244 | JCR Pharmaceuticals Co Ltd | 3,742 | ||||||||
| 267,011 | * | Jiangsu Hengrui Medicine Co Ltd | 1,482 | |||||||
| 4,437,656 | Johnson & Johnson | 787,728 | ||||||||
| 69,458 | Joincare Pharmaceutical Group Industry Co Ltd | 128 | ||||||||
| 13,080 | Joinn Laboratories China Co Ltd | 223 | ||||||||
| 73,015 | * | Jounce Therapeutics, Inc | 221 | |||||||
| 63,434 | Jubilant Organosys Ltd | 276 | ||||||||
| 280,500 | *,e,g | JW Cayman Therapeutics Co Ltd | 291 | |||||||
| 43,879 | Kaken Pharmaceutical Co Ltd | 1,234 | ||||||||
| 23,010,706 | Kalbe Farma Tbk PT | 2,567 | ||||||||
| 19,751 | * | KalVista Pharmaceuticals Inc | 194 | |||||||
| 4,044 | * | Kangmei Pharmaceutical Co Ltd | 1 | |||||||
| 71,304 | *,e | Karo Pharma AB | 350 | |||||||
| 4,377 | * | Karuna Therapeutics, Inc | 554 | |||||||
| 577,154 | *,e | Karyopharm Therapeutics, Inc | 2,603 | |||||||
| 3,893 | * | Keros Therapeutics, Inc | 108 | |||||||
| 211,968 | * | Kezar Life Sciences, Inc | 1,753 | |||||||
| 30,719 | * | Kiniksa Pharmaceuticals Ltd | 298 | |||||||
| 24,912 | *,e | Kinnate Biopharma, Inc | 314 | |||||||
| 200,500 | *,e,g | Kintor Pharmaceutical Ltd | 480 | |||||||
| 33,400 | Kissei Pharmaceutical Co Ltd | 654 | ||||||||
| 124,070 | * | Knight Therapeutics, Inc | 515 | |||||||
| 26,631 | * | Kodiak Sciences, Inc | 203 | |||||||
| 38,966 | * | Komipharm International Co Ltd | 215 | |||||||
| 10,852 | Korea United Pharm Inc | 185 | ||||||||
| 35,489 | * | Kronos Bio, Inc | 129 | |||||||
| 12,702 | * | Krystal Biotech Inc | 834 | |||||||
| 21,437 | Kukjeon Pharmaceutical Co Ltd | 108 | ||||||||
| 53,657 | * | Kura Oncology, Inc | 984 | |||||||
| 31,326 | *,e | Kymera Therapeutics, Inc | 617 | |||||||
| 39,481 | Kyorin Co Ltd | 516 | ||||||||
| 151,415 | Kyowa Hakko Kogyo Co Ltd | 3,418 | ||||||||
| 17,964 | L&C Bio Co Ltd | 429 | ||||||||
| 23,341 | Laboratorios Farmaceuticos Rovi S.A | 1,430 | ||||||||
| 412,791 | g | Laurus Labs Ltd | 2,437 | |||||||
| 52,840 | *,e | Legend Biotech Corp (ADR) | 2,906 | |||||||
| 24,996 | * | LegoChem Biosciences, Inc | 812 | |||||||
| 53,608 | *,e | Lexicon Pharmaceuticals, Inc | 100 | |||||||
| 11,526 | * | Ligand Pharmaceuticals, Inc (Class B) | 1,028 | |||||||
| 108,557 | * | Liquidia Corp | 473 | |||||||
| 25,417 | Livzon Pharmaceutical Group, Inc | 137 | ||||||||
| 278,462 | Lonza Group AG. | 148,737 | ||||||||
| 127 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 151,000 | Lotus Pharmaceutical Co Ltd | $ | 780 | |||||||
| 159,190 | Lupin Ltd | 1,233 | ||||||||
| 2,240,000 | *,e,g | Luye Pharma Group Ltd | 737 | |||||||
| 145,140 | *,e | Lyell Immunopharma, Inc | 946 | |||||||
| 53,030 | * | MacroGenics, Inc | 156 | |||||||
| 1,996 | * | Madrigal Pharmaceuticals, Inc | 143 | |||||||
| 689,710 | *,e | MannKind Corp | 2,628 | |||||||
| 156,355 | * | Maravai LifeSciences Holdings, Inc | 4,442 | |||||||
| 71,705 | *,e | MaxCyte, Inc | 339 | |||||||
| 1,702,337 | * | Mayne Pharma Group Ltd | 294 | |||||||
| 196,564 | * | Medigen Vaccine Biologics Corp | 1,355 | |||||||
| 14,887 | * | Medpace Holdings, Inc | 2,228 | |||||||
| 16,929 | * | MedPacto, Inc | 301 | |||||||
| 5,607 | * | Medy-Tox, Inc | 476 | |||||||
| 459,600 | Mega Lifesciences PCL | 656 | ||||||||
| 24,327 | * | MeiraGTx Holdings plc | 184 | |||||||
| 4,596,450 | Merck & Co, Inc | 419,058 | ||||||||
| 502,766 | Merck KGaA | 85,280 | ||||||||
| 7,260 | Merck Ltd | 386 | ||||||||
| 79,462 | * | Mersana Therapeutics, Inc | 367 | |||||||
| 705,560 | *,e | Mesoblast Ltd | 297 | |||||||
| 25,633 | * | Mettler-Toledo International, Inc | 29,446 | |||||||
| 23,943 | * | Mezzion Pharma Co Ltd | 304 | |||||||
| 101,556 | *,e | MiMedx Group, Inc | 352 | |||||||
| 420,716 | *,e | Mind Medicine MindMed, Inc | 268 | |||||||
| 36,772 | * | Mirati Therapeutics, Inc | 2,469 | |||||||
| 2,521 | *,e | Mirum Pharmaceuticals, Inc | 49 | |||||||
| 27,091 | *,e | Mithra Pharmaceuticals S.A. | 206 | |||||||
| 26,475 | Mochida Pharmaceutical Co Ltd | 638 | ||||||||
| 210,137 | * | Moderna, Inc | 30,018 | |||||||
| 25,637 | *,e | Molecular Partners AG. | 177 | |||||||
| 24,688 | *,e | Monte Rosa Therapeutics, Inc | 239 | |||||||
| 15,758 | * | Morphic Holding, Inc | 342 | |||||||
| 42,761 | * | Morphosys AG. | 849 | |||||||
| 65,095 | * | Myriad Genetics, Inc | 1,183 | |||||||
| 42,487 | Nanjing King-Friend Biochemical Pharmaceutical Co Ltd | 179 | ||||||||
| 12,041 | * | NanoString Technologies, Inc | 153 | |||||||
| 93,742 | Natco Pharma Ltd | 773 | ||||||||
| 82,443 | * | Natera, Inc | 2,922 | |||||||
| 61,114 | * | Naturecell Co Ltd | 823 | |||||||
| 38,095 | * | Nautilus Biotechnology, Inc | 102 | |||||||
| 156,265 | *,e | Nektar Therapeutics | 594 | |||||||
| 359,235 | * | NeoGenomics, Inc | 2,928 | |||||||
| 75,634 | * | Neurocrine Biosciences, Inc | 7,373 | |||||||
| 221,065 | * | NGM Biopharmaceuticals Inc | 2,834 | |||||||
| 58,555 | * | NH Special Purpose Acquisition 11 Co Ltd | 335 | |||||||
| 50,002 | e | Nichi-iko Pharmaceutical Co Ltd | 130 | |||||||
| 8,900 | Nippon Shinyaku Co Ltd | 543 | ||||||||
| 26,954 | * | Nkarta, Inc | 332 | |||||||
| 38,275 | * | NKMax Co Ltd | 440 | |||||||
| 2,158,351 | Novartis AG. | 182,986 | ||||||||
| 27,290 | *,e | Novavax, Inc | 1,404 | |||||||
| 128 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,889,151 | Novo Nordisk AS | $ | 209,511 | |||||||
| 46,888 | *,e | Nurix Therapeutics, Inc | 594 | |||||||
| 14,965 | *,e | Nuvalent, Inc | 203 | |||||||
| 96,995 | *,e | Nuvation Bio, Inc | 314 | |||||||
| 182,452 | * | OBI Pharma, Inc | 600 | |||||||
| 36,076 | *,e | Ocugen, Inc | 82 | |||||||
| 128,387 | * | Ocular Therapeutix, Inc | 516 | |||||||
| 346,000 | *,e,g | Ocumension Therapeutics | 619 | |||||||
| 269,000 | * | Oneness Biotech Co Ltd | 1,593 | |||||||
| 515,588 | Ono Pharmaceutical Co Ltd | 13,245 | ||||||||
| 305,448 | *,e | Organigram Holdings, Inc | 280 | |||||||
| 219,058 | * | Organogenesis Holdings Inc | 1,069 | |||||||
| 181,807 | Organon & Co | 6,136 | ||||||||
| 14,844 | Orion Oyj (Class B) | 664 | ||||||||
| 29,353 | * | Oscotec, Inc | 629 | |||||||
| 71,080 | Otsuka Holdings KK | 2,537 | ||||||||
| 29,976 | *,e | Outlook Therapeutics, Inc | 31 | |||||||
| 80,936 | * | Oxford Biomedica plc | 447 | |||||||
| 475,319 | * | Oxford Nanopore Technologies plc | 1,607 | |||||||
| 242,316 | *,e | Pacific Biosciences of California, Inc | 1,071 | |||||||
| 187,490 | * | Pacira BioSciences Inc | 10,931 | |||||||
| 399,307 | * | Paion AG. | 385 | |||||||
| 22,754 | * | Pardes Biosciences, Inc | 70 | |||||||
| 17,325 | *,e | PepGen, Inc | 172 | |||||||
| 117,000 | * | PeptiDream, Inc | 1,233 | |||||||
| 82,355 | PerkinElmer, Inc | 11,713 | ||||||||
| 107,657 | Perrigo Co plc | 4,368 | ||||||||
| 6,560,126 | Pfizer, Inc | 343,947 | ||||||||
| 26,500 | e | Pharma Foods International Co Ltd | 277 | |||||||
| 17,491 | *,e | Pharma Mar S.A. | 1,237 | |||||||
| 6,721 | PHARMA RESEARCH PRODUCTS Co Ltd | 350 | ||||||||
| 69,951 | *,† | Pharmally International Holding Co Ltd | 0 | ^ | ||||||
| 40,950 | Pharmaron Beijing Co Ltd - A | 583 | ||||||||
| 145,623 | g | Pharmaron Beijing Co Ltd - H | 1,463 | |||||||
| 66,495 | * | Pharmicell Co Ltd | 589 | |||||||
| 751,194 | *,e | Pharming Group NV | 590 | |||||||
| 4,214 | *,e | Phathom Pharmaceuticals, Inc | 36 | |||||||
| 122,841 | Phibro Animal Health Corp | 2,350 | ||||||||
| 30,353 | *,e | PMV Pharmaceuticals, Inc | 433 | |||||||
| 13,441 | *,e | Point Biopharma Global, Inc | 92 | |||||||
| 17,371 | e,g | PolyPeptide Group AG. | 1,188 | |||||||
| 26,084 | * | Praxis Precision Medicines, Inc | 64 | |||||||
| 154,293 | *,e | Precigen, Inc | 207 | |||||||
| 194,414 | * | Prestige Consumer Healthcare, Inc. | 11,432 | |||||||
| 83,715 | *,† | Progenics Pharmaceuticals, Inc | 0 | ^ | ||||||
| 5,659 | * | Prometheus Biosciences, Inc | 160 | |||||||
| 55,899 | * | Protagonist Therapeutics, Inc | 442 | |||||||
| 203,039 | * | Prothena Corp plc | 5,513 | |||||||
| 16,721 | *,e | Provention Bio, Inc | 67 | |||||||
| 22,829 | * | PTC Therapeutics, Inc | 915 | |||||||
| 191,515 | * | QIAGEN NV | 9,040 | |||||||
| 115,026 | * | QIAGEN NV | 5,408 | |||||||
| 129 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 46,564 | * | Quanterix Corp | $ | 754 | ||||||
| 73,724 | *,e | Quantum-Si, Inc | 171 | |||||||
| 214,999 | * | Radius Health, Inc | 2,230 | |||||||
| 2,923 | *,e | Rallybio Corp | 22 | |||||||
| 9,941 | *,e | RAPT Therapeutics, Inc | 181 | |||||||
| 7,143 | *,e | Reata Pharmaceuticals, Inc | 217 | |||||||
| 14,469 | Recordati S.p.A. | 631 | ||||||||
| 136,746 | *,e | Recursion Pharmaceuticals, Inc | 1,113 | |||||||
| 96,254 | * | Regeneron Pharmaceuticals, Inc | 56,899 | |||||||
| 33,621 | * | REGENXBIO, Inc | 830 | |||||||
| 74,037 | *,e | Relay Therapeutics, Inc | 1,240 | |||||||
| 9,239 | * | Relmada Therapeutics, Inc | 175 | |||||||
| 52,136 | * | Repligen Corp | 8,467 | |||||||
| 24,674 | * | Replimune Group, Inc | 431 | |||||||
| 10,867 | * | Revance Therapeutics, Inc | 150 | |||||||
| 46,384 | * | REVOLUTION Medicines, Inc | 904 | |||||||
| 7,947 | Reyon Pharmaceutical Co Ltd | 138 | ||||||||
| 330,652 | Richter Gedeon Rt | 5,984 | ||||||||
| 82,784 | *,e | Rigel Pharmaceuticals, Inc | 94 | |||||||
| 881,265 | Roche Holding AG. | 294,607 | ||||||||
| 3,691 | e | Roche Holding AG. | 1,428 | |||||||
| 219,020 | * | Rocket Pharmaceuticals, Inc | 3,014 | |||||||
| 285,635 | Royalty Pharma plc | 12,008 | ||||||||
| 43,274 | * | Sage Therapeutics, Inc | 1,398 | |||||||
| 15,769 | * | Sam Chun Dang Pharm Co Ltd | 410 | |||||||
| 26,126 | *,g | Samsung Biologics Co Ltd | 15,973 | |||||||
| 225,955 | *,e | Sana Biotechnology, Inc | 1,453 | |||||||
| 38,824 | *,e | SanBio Co Ltd | 303 | |||||||
| 92,904 | * | Sangamo Therapeutics Inc | 385 | |||||||
| 10,443 | Sanofi India Ltd | 852 | ||||||||
| 1,244,715 | Sanofi-Aventis | 125,525 | ||||||||
| 418,200 | Santen Pharmaceutical Co Ltd | 3,299 | ||||||||
| 118,282 | * | Sarepta Therapeutics, Inc | 8,866 | |||||||
| 12,191 | Sartorius Stedim Biotech | 3,846 | ||||||||
| 70,110 | Saudi Pharmaceutical Industries & Medical Appliances Corp | 487 | ||||||||
| 43,017 | Sawai Group Holdings Co Ltd | 1,305 | ||||||||
| 51,821 | *,e | Science 37 Holdings, Inc | 104 | |||||||
| 347,000 | Scinopharm Taiwan Ltd | 301 | ||||||||
| 744,418 | * | Seagen, Inc | 131,717 | |||||||
| 22,181 | Seegene, Inc | 619 | ||||||||
| 44,071 | *,e | Seer, Inc | 394 | |||||||
| 17,543 | * | Seres Therapeutics, Inc | 60 | |||||||
| 54,213 | Shandong Buchang Pharmaceuticals Co Ltd | 160 | ||||||||
| 82,688 | Shanghai Fosun Pharmaceutical Group Co Ltd - A | 545 | ||||||||
| 362,929 | Shanghai Fosun Pharmaceutical Group Co Ltd - H | 1,350 | ||||||||
| 594,000 | Shanghai Haixin Group Co | 187 | ||||||||
| 79,000 | *,g | Shanghai Henlius Biotech, Inc | 178 | |||||||
| 51,257 | * | Shanghai Junshi Biosciences Co Ltd | 577 | |||||||
| 5,898 | Shanghai Medicilon, Inc | 299 | ||||||||
| 416,337 | Shanghai RAAS Blood Products Co Ltd | 369 | ||||||||
| 43,568 | Shenzhen Kangtai Biological Products Co Ltd | 295 | ||||||||
| 62,725 | Shenzhen Salubris Pharmaceuticals Co Ltd | 264 | ||||||||
| 130 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 92,807 | Shijiazhuang Yiling Pharmaceutical Co Ltd | $ | 337 | |||||||
| 33,356 | Shilpa Medicare Ltd | 165 | ||||||||
| 39,840 | Shin Poong Pharmaceutical Co Ltd | 672 | ||||||||
| 253,022 | Shionogi & Co Ltd | 12,914 | ||||||||
| 110,255 | Sichuan Kelun Pharmaceutical Co Ltd | 308 | ||||||||
| 4,680 | Siegfried Holding AG. | 2,997 | ||||||||
| 13,444 | * | Sierra Oncology, Inc | 739 | |||||||
| 8,262 | e | SIGA Technologies, Inc | 96 | |||||||
| 4,630,000 | e | Sihuan Pharmaceutical Holdings | 758 | |||||||
| 13,434 | *,†,e | SillaJen, Inc | 0 | ^ | ||||||
| 45,988 | *,e | Singular Genomics Systems, Inc | 176 | |||||||
| 12,558,236 | Sino Biopharmaceutical | 8,007 | ||||||||
| 19,596 | * | SK Biopharmaceuticals Co Ltd | 1,134 | |||||||
| 24,889 | * | SK Bioscience Co Ltd | 1,935 | |||||||
| 112,288 | * | SomaLogic, Inc | 508 | |||||||
| 443,167 | *,e | Sorrento Therapeutics, Inc | 891 | |||||||
| 89,208 | * | Sosei Group | 746 | |||||||
| 96,932 | * | Sotera Health Co | 1,899 | |||||||
| 24,146 | *,e | SpringWorks Therapeutics, Inc | 594 | |||||||
| 1,586,000 | SSY Group Ltd | 849 | ||||||||
| 11,970 | ST Pharm Co Ltd | 830 | ||||||||
| 18,584 | * | Stoke Therapeutics, Inc | 245 | |||||||
| 79,217 | Strides Arcolab Ltd | 333 | ||||||||
| 208,900 | Sumitomo Dainippon Pharma Co Ltd | 1,678 | ||||||||
| 90,296 | * | Sun Pharma Advanced Research Company Ltd | 240 | |||||||
| 2,012,332 | Sun Pharmaceutical Industries Ltd | 21,195 | ||||||||
| 138,067 | * | Supernus Pharmaceuticals, Inc | 3,993 | |||||||
| 36,522 | * | Sutro Biopharma, Inc | 190 | |||||||
| 116,385 | Suven Pharmaceuticals Ltd | 683 | ||||||||
| 352,993 | e | SwedenCare AB | 3,006 | |||||||
| 23,741 | * | Swedish Orphan Biovitrum AB | 516 | |||||||
| 34,829 | * | Syndax Pharmaceuticals, Inc | 670 | |||||||
| 138,827 | * | Syneos Health, Inc | 9,951 | |||||||
| 137,563 | g | Syngene International Ltd | 969 | |||||||
| 479,000 | * | Taigen Biopharmaceuticals Holdings Ltd | 275 | |||||||
| 204,000 | * | TaiMed Biologics, Inc | 427 | |||||||
| 44,200 | Taisho Pharmaceutical Holdings Co Ltd | 1,747 | ||||||||
| 189,533 | Takara Bio, Inc | 2,688 | ||||||||
| 1,618,594 | Takeda Pharmaceutical Co Ltd | 45,464 | ||||||||
| 19,066 | * | Talaris Therapeutics, Inc | 86 | |||||||
| 37,528 | * | Tango Therapeutics, Inc | 170 | |||||||
| 183,000 | * | Tanvex BioPharma, Inc | 414 | |||||||
| 28,903 | *,e | Taro Pharmaceutical Industries Ltd | 1,045 | |||||||
| 15,539 | * | Tarsus Pharmaceuticals, Inc | 227 | |||||||
| 23,393 | Tecan Group AG. | 6,812 | ||||||||
| 255,936 | * | Telix Pharmaceuticals Ltd | 804 | |||||||
| 24,651 | *,e | Tenaya Therapeutics, Inc | 139 | |||||||
| 154,875 | * | Teva Pharmaceutical Industries Ltd (ADR) | 1,165 | |||||||
| 21,744 | * | TG Therapeutics, Inc | 92 | |||||||
| 16,080 | * | Theravance Biopharma, Inc | 146 | |||||||
| 397,370 | Thermo Fisher Scientific, Inc | 215,883 | ||||||||
| 13,831 | *,e | Theseus Pharmaceuticals, Inc | 76 | |||||||
| 131 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 209,000 | Tianjin ZhongXin Pharmaceutical Group Corp Ltd | $ | 230 | |||||||
| 689,000 | Tong Ren Tang Technologies Co Ltd | 580 | ||||||||
| 24,965 | Torii Pharmaceutical Co Ltd | 590 | ||||||||
| 54,870 | Torrent Pharmaceuticals Ltd | 1,991 | ||||||||
| 32,013 | Towa Pharmaceutical Co Ltd | 581 | ||||||||
| 103,414 | * | Travere Therapeutics, Inc | 2,506 | |||||||
| 72,771 | * | Tricida, Inc | 704 | |||||||
| 68,500 | Tsumura & Co | 1,541 | ||||||||
| 239,000 | TTY Biopharm Co Ltd | 578 | ||||||||
| 51,561 | * | Turning Point Therapeutics Inc | 3,880 | |||||||
| 60,827 | * | Twist Bioscience Corp | 2,127 | |||||||
| 6,846 | *,e | Tyra Biosciences, Inc | 49 | |||||||
| 17,806 | UCB S.A. | 1,509 | ||||||||
| 62,323 | * | Ultragenyx Pharmaceutical, Inc | 3,718 | |||||||
| 1,259,562 | United Laboratories Ltd | 749 | ||||||||
| 137,073 | * | United Therapeutics Corp | 32,300 | |||||||
| 320,707 | * | Vaccibody AS. | 926 | |||||||
| 99,151 | *,e | Valneva SE | 1,130 | |||||||
| 47,509 | * | Vanda Pharmaceuticals, Inc | 518 | |||||||
| 88,885 | *,e | Vaxart Inc | 311 | |||||||
| 12,433 | * | Vaxcell-Bio Therapeutics Co Ltd | 370 | |||||||
| 9,957 | * | Vaxcyte, Inc | 217 | |||||||
| 171,721 | * | VBI Vaccines, Inc | 139 | |||||||
| 3,777 | *,e | Ventyx Biosciences, Inc | 46 | |||||||
| 3,954 | *,e | Vera Therapeutics, Inc | 54 | |||||||
| 80,204 | *,e | Veracyte, Inc | 1,596 | |||||||
| 67,828 | *,e | Vericel Corp | 1,708 | |||||||
| 292,683 | * | Vertex Pharmaceuticals, Inc | 82,475 | |||||||
| 32,807 | *,e | Verve Therapeutics, Inc | 501 | |||||||
| 90,995 | *,e | VG Acquisition Corp | 226 | |||||||
| 851,862 | Viatris, Inc | 8,919 | ||||||||
| 256 | e | Vifor Pharma AG. | 46 | |||||||
| 6,114 | Vifor Pharma AG. | 1,060 | ||||||||
| 111,050 | * | Vir Biotechnology, Inc | 2,828 | |||||||
| 5,043 | Virbac S.A. | 1,972 | ||||||||
| 8,497 | * | Viridian Therapeutics, Inc | 98 | |||||||
| 63,502 | *,e | VistaGen Therapeutics, Inc | 56 | |||||||
| 71,905 | Vitrolife AB | 1,659 | ||||||||
| 855,500 | *,e,g | Viva Biotech Holdings | 297 | |||||||
| 67,528 | Walvax Biotechnology Co Ltd | 489 | ||||||||
| 110,538 | * | Waters Corp | 36,586 | |||||||
| 187,360 | West Pharmaceutical Services, Inc | 56,652 | ||||||||
| 3,518,404 | Winteam Pharmaceutical Group Ltd | 2,185 | ||||||||
| 65,933 | * | Wockhardt Ltd | 175 | |||||||
| 104,258 | WuXi AppTec Co Ltd - A | 1,624 | ||||||||
| 551,437 | g | WuXi AppTec Co Ltd - H | 7,377 | |||||||
| 3,363,500 | *,g | Wuxi Biologics Cayman, Inc | 31,164 | |||||||
| 57,050 | * | Xencor, Inc | 1,561 | |||||||
| 20,378 | * | Xeris Biopharma Holdings, Inc | 31 | |||||||
| 6,932 | *,e | Y-mAbs Therapeutics, Inc | 105 | |||||||
| 32,929 | Yuhan Corp | 1,424 | ||||||||
| 100,882 | * | Yungjin Pharmaceutical Co Ltd | 282 | |||||||
| 132 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 199,000 | YungShin Global Holding Corp | $ | 271 | |||||||
| 80,007 | Yunnan Baiyao Group Co Ltd | 723 | ||||||||
| 64,117 | * | Zai Lab Ltd (ADR) | 2,224 | |||||||
| 44,237 | * | Zealand Pharma AS | 582 | |||||||
| 8,356 | * | Zentalis Pharmaceuticals, Inc | 235 | |||||||
| 25,500 | Zeria Pharmaceutical Co Ltd | 404 | ||||||||
| 24,501 | * | Zhangzhou Pientzehuang Pharmaceutical Co Ltd | 1,307 | |||||||
| 96,558 | * | Zhejiang Huahai Pharmaceutical Co Ltd | 327 | |||||||
| 35,900 | Zhejiang Jiuzhou Pharmaceutical Co Ltd | 278 | ||||||||
| 131,799 | Zhejiang NHU Co Ltd | 449 | ||||||||
| 16,555 | Zhejiang Orient Gene Biotech Co Ltd | 282 | ||||||||
| 11,467 | Zhejiang Wolwo Bio-Pharmaceutical Co Ltd | 89 | ||||||||
| 1,315,064 | Zoetis, Inc | 226,046 | ||||||||
| 5,323 | *,†,e | Zogenix, Inc | 4 | |||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 8,520,888 | |||||||||
| REAL ESTATE - 3.1% | ||||||||||
| 909,602 | Abacus Property Group | 1,617 | ||||||||
| 322,307 | Acadia Realty Trust | 5,034 | ||||||||
| 923 | Activia Properties Inc | 2,758 | ||||||||
| 1,527 | Advance Residence Investment Corp | 4,069 | ||||||||
| 73,788 | e | Aedifica S.A. | 7,090 | |||||||
| 122,400 | Aeon Mall Co Ltd | 1,498 | ||||||||
| 1,887 | AEON REIT Investment Corp | 2,132 | ||||||||
| 10,759 | AFI Properties Ltd | 520 | ||||||||
| 7,212 | Africa Israel Residences Ltd | 374 | ||||||||
| 1,372,000 | e | Agile Property Holdings Ltd | 551 | |||||||
| 64,810 | e | Agree Realty Corp | 4,675 | |||||||
| 652,100 | AIMS AMP Capital Industrial REIT | 634 | ||||||||
| 79,127 | * | Airport City Ltd | 1,359 | |||||||
| 4,432,690 | Aldar Properties PJSC | 5,379 | ||||||||
| 79,571 | e,g | ALDER Group S.A. | 316 | |||||||
| 137,864 | Alexander & Baldwin, Inc | 2,475 | ||||||||
| 378 | Alexander’s, Inc | 84 | ||||||||
| 163,392 | Alexandria Real Estate Equities, Inc | 23,697 | ||||||||
| 151,000 | Aliansce Sonae Shopping Centers sa | 462 | ||||||||
| 495,276 | g | A-Living Services Co Ltd | 797 | |||||||
| 73,163 | Allied Properties Real Estate Investment Trust | 1,887 | ||||||||
| 17,144 | Allreal Holding AG. | 2,837 | ||||||||
| 174,669 | Alony Hetz Properties & Investments Ltd | 2,201 | ||||||||
| 4,875 | e | Altarea SCA | 669 | |||||||
| 52,307 | Altus Group Ltd | 1,812 | ||||||||
| 936,100 | Amata Corp PCL (Foreign) | 485 | ||||||||
| 120,904 | American Assets Trust, Inc | 3,591 | ||||||||
| 89,093 | American Campus Communities, Inc | 5,744 | ||||||||
| 505,648 | American Finance Trust, Inc | 3,681 | ||||||||
| 2,357,060 | American Homes 4 Rent | 83,534 | ||||||||
| 216 | * | American Realty Investors, Inc | 3 | |||||||
| 635,985 | American Tower Corp | 162,551 | ||||||||
| 259,448 | e | Americold Realty Trust | 7,794 | |||||||
| 263,952 | Amot Investments Ltd | 1,595 | ||||||||
| 150,538 | Apartment Income REIT Corp | 6,262 | ||||||||
| 133 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 127,250 | * | Apartment Investment and Management Co | $ | 814 | ||||||
| 179,602 | Apple Hospitality REIT, Inc | 2,635 | ||||||||
| 600,800 | AREIT, Inc | 382 | ||||||||
| 409,375 | Arena REIT | 1,210 | ||||||||
| 979,179 | Argosy Property Ltd | 754 | ||||||||
| 80,221 | Armada Hoffler Properties, Inc | 1,030 | ||||||||
| 309,993 | e | Aroundtown S.A. | 992 | |||||||
| 95,682 | Arriyadh Development Co | 575 | ||||||||
| 71,237 | Artis Real Estate Investment Trust | 651 | ||||||||
| 1,071,400 | Ascendas India Trust | 903 | ||||||||
| 3,658,463 | Ascendas REIT | 7,508 | ||||||||
| 2,275,304 | Ascott Trust | 1,869 | ||||||||
| 30,775 | *,e | Ashford Hospitality Trust, Inc | 184 | |||||||
| 3,210,900 | Asian Property Development PCL (Foreign) | 909 | ||||||||
| 3,396,056 | Assura Group Ltd | 2,704 | ||||||||
| 53,062 | Atrium Ljungberg AB | 695 | ||||||||
| 476,169 | AvalonBay Communities, Inc | 92,496 | ||||||||
| 1,534,861 | Axis Real Estate Investment Trust | 669 | ||||||||
| 8,378,908 | Ayala Land, Inc | 3,895 | ||||||||
| 4,761,352 | *,† | AZ BGP Holdings | 13 | |||||||
| 8,039 | Azrieli Group | 566 | ||||||||
| 10,549,900 | Bangkok Land PCL | 307 | ||||||||
| 2,339,863 | Barwa Real Estate Co | 2,148 | ||||||||
| 28,563 | Befimmo SCA Sicafi | 1,414 | ||||||||
| 13,514 | Big Shopping Centers Ltd | 1,673 | ||||||||
| 383,257 | Big Yellow Group plc | 6,149 | ||||||||
| 5,522 | Blue Square Real Estate Ltd | 382 | ||||||||
| 5,190 | Bluerock Residential Growth REIT, Inc | 136 | ||||||||
| 957,095 | BMO Commercial Property Trust Ltd | 1,301 | ||||||||
| 28,412 | Boardwalk REIT | 924 | ||||||||
| 124,699 | Boston Properties, Inc | 11,096 | ||||||||
| 898,500 | BR Malls Participacoes S.A. | 1,291 | ||||||||
| 229,100 | BR Properties S.A. | 387 | ||||||||
| 201,879 | e | BraeMar Hotels & Resorts, Inc | 866 | |||||||
| 871,659 | Brandywine Realty Trust | 8,403 | ||||||||
| 113,227 | Brigade Enterprises Ltd | 640 | ||||||||
| 204,711 | British Land Co plc | 1,120 | ||||||||
| 25,702 | Brixmor Property Group, Inc | 519 | ||||||||
| 140,970 | Broadstone Net Lease, Inc | 2,891 | ||||||||
| 103,723 | g | Brookfield India Real Estate Trust | 430 | |||||||
| 22,766 | Brt Realty Trust | 489 | ||||||||
| 29,199 | BSR Real Estate Investment Trust | 438 | ||||||||
| 8,131,500 | * | Bumi Serpong Damai Tbk PT | 497 | |||||||
| 562,107 | Bunnings Warehouse Property Trust | 1,512 | ||||||||
| 565,000 | C&D International Investment Group Ltd | 1,529 | ||||||||
| 642,000 | C&D Property Management Group Co Ltd | 336 | ||||||||
| 50,747 | CA Immobilien Anlagen AG. | 1,616 | ||||||||
| 5,964,862 | e | Cambridge Industrial Trust | 1,739 | |||||||
| 54,255 | Camden Property Trust | 7,296 | ||||||||
| 171,120 | Canadian Apartment Properties REIT | 5,958 | ||||||||
| 834,057 | Capital & Counties Properties | 1,424 | ||||||||
| 2,902,688 | Capitaland Investment Ltd | 7,989 | ||||||||
| 134 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 5,555,611 | CapitaMall Trust | $ | 8,685 | |||||||
| 1,349,287 | CapitaRetail China Trust | 1,117 | ||||||||
| 74,860 | CareTrust REIT, Inc | 1,380 | ||||||||
| 80,064 | Carmila S.A. | 1,139 | ||||||||
| 303,347 | e | Castellum AB | 3,911 | |||||||
| 51,722 | CatchMark Timber Trust, Inc | 520 | ||||||||
| 36,531 | Catena AB | 1,322 | ||||||||
| 716,000 | Cathay Real Estate Development Co Ltd | 418 | ||||||||
| 19,459 | * | CBL & Associates Properties, Inc | 457 | |||||||
| 339,717 | CBRE Group, Inc | 25,007 | ||||||||
| 978,768 | CDL Hospitality Trusts | 895 | ||||||||
| 8,658 | Cedar Realty Trust, Inc | 249 | ||||||||
| 616,958 | Cencosud Shopping S.A. | 562 | ||||||||
| 12,872 | Centerspace | 1,050 | ||||||||
| 2,442,000 | Central China Management Co Ltd | 363 | ||||||||
| 392,000 | e | Central China New Life Ltd | 194 | |||||||
| 2,194,082 | Central Pattana PCL | 3,792 | ||||||||
| 908,286 | Centuria Capital Group | 1,137 | ||||||||
| 679,683 | Centuria Industrial REIT | 1,322 | ||||||||
| 606,325 | Centuria Office REIT | 713 | ||||||||
| 3,010,806 | Champion Real Estate Investment Trust | 1,339 | ||||||||
| 805,806 | Charter Hall Education Trust | 1,884 | ||||||||
| 554,039 | Charter Hall Group | 4,156 | ||||||||
| 1,609,943 | Charter Hall Long Wale REIT | 4,757 | ||||||||
| 41,655 | * | Chatham Lodging Trust | 435 | |||||||
| 1,221,000 | *,†,e | China Aoyuan Group Ltd | 138 | |||||||
| 4,573,156 | China Jinmao Holdings Group Ltd | 1,233 | ||||||||
| 1,246,000 | China Merchants Land Ltd | 107 | ||||||||
| 559,327 | China Merchants Shekou Industrial Zone Holdings Co Ltd | 1,124 | ||||||||
| 1,134,000 | China Overseas Grand Oceans Group Ltd | 605 | ||||||||
| 3,463,786 | China Overseas Land & Investment Ltd | 11,018 | ||||||||
| 1,050,119 | China Overseas Property Holdings Ltd | 1,132 | ||||||||
| 3,666,602 | China Resources Land Ltd | 17,194 | ||||||||
| 808,000 | g | China Resources Mixc Lifestyle Services Ltd | 4,014 | |||||||
| 1,897,000 | China SCE Group Holdings Ltd | 262 | ||||||||
| 5,698,000 | China South City Holdings Ltd | 481 | ||||||||
| 1,997,738 | China Vanke Co Ltd | 5,030 | ||||||||
| 679,315 | China Vanke Co Ltd (Class A) | 2,081 | ||||||||
| 547,000 | Chinese Estates Holdings Ltd | 156 | ||||||||
| 219,882 | Choice Properties REIT | 2,400 | ||||||||
| 234,000 | Chong Hong Construction Co | 577 | ||||||||
| 50,309 | Cibus Nordic Real Estate AB | 779 | ||||||||
| 3,258,431 | CIFI Holdings Group Co Ltd | 1,643 | ||||||||
| 425,153 | City Developments Ltd | 2,497 | ||||||||
| 35,835 | City Office REIT, Inc | 464 | ||||||||
| 97,432 | e | Citycon Oyj | 664 | |||||||
| 781,807 | Civitas Social Housing plc | 748 | ||||||||
| 2,093,301 | CK Asset Holdings Ltd | 14,874 | ||||||||
| 1,703 | Clipper Realty, Inc | 13 | ||||||||
| 218,844 | CLS Holdings plc | 539 | ||||||||
| 34,836 | e | Cofinimmo | 3,799 | |||||||
| 40,191 | e | Colliers International Group, Inc | 4,403 | |||||||
| 135 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 374,000 | *,† | Colour Life Services Group | $ | 22 | ||||||
| 747 | Comforia Residential REIT, Inc | 1,848 | ||||||||
| 1,688,271 | Commercial Real Estate Co KSC | 590 | ||||||||
| 39,626 | Community Healthcare Trust, Inc | 1,435 | ||||||||
| 47,493 | *,e | Compass, Inc | 171 | |||||||
| 332,100 | Concentradora Fibra Danhos S.A. de C.V. | 371 | ||||||||
| 748,048 | Corem Property Group AB | 841 | ||||||||
| 718,400 | e | Corp Inmobiliaria Vesta SAB de C.V. | 1,336 | |||||||
| 85,186 | Corporate Office Properties Trust | 2,231 | ||||||||
| 2,156,000 | * | Cosmopolitan International Holdings Ltd | 454 | |||||||
| 9,282,898 | e | Country Garden Holdings Co Ltd | 5,793 | |||||||
| 2,073,400 | Country Garden Services Holdings Co Ltd | 9,305 | ||||||||
| 128,430 | Cousins Properties, Inc | 3,754 | ||||||||
| 2,339 | e | CRE Logistics REIT, Inc | 3,253 | |||||||
| 57,259 | Crombie Real Estate Investment Trust | 718 | ||||||||
| 383,400 | Cromwell European Real Estate Investment Trust | 784 | ||||||||
| 1,717,410 | Cromwell Group | 896 | ||||||||
| 871,610 | Crown Castle International Corp | 146,762 | ||||||||
| 62,335 | CT Real Estate Investment Trust | 802 | ||||||||
| 5,000 | e | CTO Realty Growth, Inc | 306 | |||||||
| 210,805 | CubeSmart | 9,006 | ||||||||
| 460,981 | * | Cushman & Wakefield plc | 7,025 | |||||||
| 495,552 | Custodian Reit plc | 601 | ||||||||
| 69,322 | Daito Trust Construction Co Ltd | 5,997 | ||||||||
| 579,781 | Daiwa House Industry Co Ltd | 13,559 | ||||||||
| 2,261 | Daiwa House REIT Investment Corp | 5,139 | ||||||||
| 366 | Daiwa Office Investment Corp | 1,880 | ||||||||
| 2,206 | Daiwa Securities Living Investments Corp | 1,936 | ||||||||
| 411,165 | * | Dar Al Arkan Real Estate Development Co | 1,182 | |||||||
| 347,000 | *,e | Datang Group Holdings Ltd | 154 | |||||||
| 205,738 | Derwent London plc | 6,560 | ||||||||
| 135,407 | Deutsche Annington Immobilien SE | 4,190 | ||||||||
| 59,279 | Deutsche Euroshop AG. | 1,383 | ||||||||
| 1,059,000 | Dexin China Holdings Co Ltd | 367 | ||||||||
| 257,119 | Dexus Industria REIT | 480 | ||||||||
| 607,275 | Dexus Property Group | 3,734 | ||||||||
| 178,040 | * | DiamondRock Hospitality Co | 1,462 | |||||||
| 90,819 | DIC Asset AG. | 1,005 | ||||||||
| 915,200 | *,e | Digital Core REIT Management Pte Ltd | 705 | |||||||
| 197,992 | Digital Realty Trust, Inc | 25,705 | ||||||||
| 155,978 | * | DigitalBridge Group, Inc | 761 | |||||||
| 105,397 | Dios Fastigheter AB | 735 | ||||||||
| 211,241 | Diversified Healthcare Trust | 384 | ||||||||
| 715,882 | DLF Ltd | 2,849 | ||||||||
| 102,344 | * | Doma Holdings, Inc | 105 | |||||||
| 87,636 | Dongwon Development Co Ltd | 280 | ||||||||
| 609,834 | Douglas Elliman, Inc | 2,921 | ||||||||
| 72,012 | e | Douglas Emmett, Inc | 1,612 | |||||||
| 135,899 | Dream Industrial Real Estate Investment Trust | 1,275 | ||||||||
| 27,252 | Dream Office Real Estate Investment Trust | 410 | ||||||||
| 26,403 | DREAM Unlimited Corp | 653 | ||||||||
| 389,567 | Duke Realty Corp | 21,407 | ||||||||
| 136 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 437,000 | *,† | Eagle Hospitality Trust | $ | 4 | ||||||
| 73,919 | Easterly Government Properties, Inc | 1,407 | ||||||||
| 72,678 | EastGroup Properties, Inc | 11,216 | ||||||||
| 29,757 | Electra Real Estate Ltd | 421 | ||||||||
| 283,054 | * | Emaar Economic City | 746 | |||||||
| 4,578,059 | Emaar Properties PJSC | 6,499 | ||||||||
| 510,948 | Embassy Office Parks REIT | 2,424 | ||||||||
| 2,191,392 | Emlak Konut Gayrimenkul Yatiri | 348 | ||||||||
| 116,813 | Empire State Realty Trust, Inc | 821 | ||||||||
| 737,423 | Empiric Student Property plc | 772 | ||||||||
| 76,487 | g | Entra ASA | 969 | |||||||
| 199,103 | EPR Properties | 9,344 | ||||||||
| 102,319 | Equinix, Inc | 67,226 | ||||||||
| 838,744 | Equites Property Fund Ltd | 911 | ||||||||
| 88,806 | * | Equity Commonwealth | 2,445 | |||||||
| 1,243,430 | Equity Lifestyle Properties, Inc | 87,625 | ||||||||
| 458,228 | Equity Residential | 33,093 | ||||||||
| 6,186,600 | *,g | ESR Cayman Ltd | 16,776 | |||||||
| 153,277 | ESR Kendall Square REIT Co Ltd | 665 | ||||||||
| 495,597 | Essential Properties Realty Trust, Inc | 10,650 | ||||||||
| 53,841 | e | Essex Property Trust, Inc | 14,080 | |||||||
| 51,182 | Eurocommercial Properties NV | 1,100 | ||||||||
| 955,000 | e | Ever Sunshine Lifestyle Services Group Ltd | 1,224 | |||||||
| 380,000 | Excellence Commercial Property & Facilities Management Group Ltd | 190 | ||||||||
| 36,570 | e | eXp World Holdings Inc | 430 | |||||||
| 423,158 | Extra Space Storage, Inc | 71,988 | ||||||||
| 309,389 | Fabege AB | 2,932 | ||||||||
| 1,283,269 | Far East Consortium | 409 | ||||||||
| 1,066,305 | Far East Hospitality Trust | 491 | ||||||||
| 308,000 | Farglory Land Development Co Ltd | 649 | ||||||||
| 37,885 | e | Farmland Partners, Inc | 523 | |||||||
| 763,829 | * | Fastighets AB Balder | 3,659 | |||||||
| 107,666 | Federal Realty Investment Trust | 10,308 | ||||||||
| 3,359,097 | Fibra Uno Administracion S.A. de C.V. | 3,346 | ||||||||
| 3,185,200 | Filinvest REIT Corp | 394 | ||||||||
| 132,742 | First Capital Real Estate Investment Trust | 1,545 | ||||||||
| 196,465 | First Industrial Realty Trust, Inc | 9,328 | ||||||||
| 47,087 | FirstService Corp | 5,712 | ||||||||
| 6,581 | Fonciere Des Regions | 368 | ||||||||
| 43,462 | * | Forestar Group, Inc | 595 | |||||||
| 1,130,716 | Fortress REIT Ltd | 247 | ||||||||
| 1,428,853 | Fortress REIT Ltd (Class A) | 939 | ||||||||
| 1,666,000 | Fortune Real Estate Investment Trust | 1,382 | ||||||||
| 97,601 | Four Corners Property Trust, Inc | 2,595 | ||||||||
| 86,444 | Franklin Street Properties Corp | 360 | ||||||||
| 1,215,377 | Frasers Centrepoint Trust | 2,005 | ||||||||
| 875,600 | Frasers Hospitality Trust | 441 | ||||||||
| 6,551,145 | Frasers Logistics & Industrial Trust | 6,276 | ||||||||
| 577 | Frontier Real Estate Investment Corp | 2,229 | ||||||||
| 5,610 | * | FRP Holdings, Inc | 339 | |||||||
| 742 | Fukuoka REIT Corp | 922 | ||||||||
| 345,503 | Gaming and Leisure Properties, Inc | 15,845 | ||||||||
| 137 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 557,000 | *,e | Ganglong China Property Group Ltd | $ | 322 | ||||||
| 94,902 | Gazit Globe Ltd | 543 | ||||||||
| 548,653 | GDI Property Group | 345 | ||||||||
| 8,805 | Gecina S.A. | 826 | ||||||||
| 219,264 | Gemdale Corp | 441 | ||||||||
| 8,196,000 | Gemdale Properties and Investment Corp Ltd | 742 | ||||||||
| 34,722 | Getty Realty Corp | 920 | ||||||||
| 9,860 | Gladstone Commercial Corp | 186 | ||||||||
| 16,465 | Gladstone Land Corp | 365 | ||||||||
| 52,312 | Global Medical REIT, Inc | 587 | ||||||||
| 87,593 | Global Net Lease, Inc | 1,240 | ||||||||
| 1,069 | Global One Real Estate Investment Corp | 836 | ||||||||
| 765 | GLP J-Reit | 938 | ||||||||
| 133,915 | * | Godrej Properties Ltd | 2,014 | |||||||
| 77,780 | Goldcrest Co Ltd | 986 | ||||||||
| 1,732,646 | Goodman Group | 21,394 | ||||||||
| 1,205,633 | Goodman Property Trust | 1,502 | ||||||||
| 1,994,261 | GPT Group | 5,829 | ||||||||
| 861,348 | Grainger plc | 2,948 | ||||||||
| 111,966 | e | Grand City Properties S.A. | 1,515 | |||||||
| 138,089 | Granite REIT | 8,470 | ||||||||
| 1,981,659 | Great Portland Estates plc | 13,877 | ||||||||
| 1,056,000 | Greenland Hong Kong Holdings Ltd | 209 | ||||||||
| 969,822 | Greentown China Holdings Ltd | 2,017 | ||||||||
| 1,634,379 | Greentown Service Group Co Ltd | 1,850 | ||||||||
| 329,868 | Growthpoint Properties Australia Ltd | 779 | ||||||||
| 3,877,129 | Growthpoint Properties Ltd | 2,943 | ||||||||
| 1,954,400 | e | Guangzhou R&F Properties Co Ltd | 518 | |||||||
| 348,742 | H&R Real Estate Investment Trust | 3,373 | ||||||||
| 81,832 | Hamborner REIT AG. | 734 | ||||||||
| 4,099,057 | e | Hammerson plc | 949 | |||||||
| 1,489,442 | Hang Lung Group Ltd | 2,811 | ||||||||
| 2,291,995 | Hang Lung Properties Ltd | 4,361 | ||||||||
| 745 | Hankyu Reit, Inc | 821 | ||||||||
| 284,895 | e | Healthcare Realty Trust, Inc | 7,749 | |||||||
| 221,540 | Healthcare Trust of America, Inc | 6,183 | ||||||||
| 679,470 | Healthpeak Properties Inc | 17,605 | ||||||||
| 37,122 | Heiwa Real Estate Co Ltd | 1,065 | ||||||||
| 1,074 | Heiwa Real Estate REIT, Inc | 1,158 | ||||||||
| 137,169 | Helical Bar plc | 625 | ||||||||
| 1,566,518 | Henderson Land Development Co Ltd | 5,888 | ||||||||
| 25,715 | * | Hersha Hospitality Trust | 252 | |||||||
| 980,000 | Highwealth Construction Corp | 1,491 | ||||||||
| 8,184 | Highwoods Properties, Inc | 280 | ||||||||
| 123,624 | Home Consortium | 386 | ||||||||
| 908,284 | Home Reit plc | 1,256 | ||||||||
| 2,086,420 | HomeCo Daily Needs REIT | 1,844 | ||||||||
| 1,314,162 | Hongkong Land Holdings Ltd | 6,600 | ||||||||
| 961,816 | e | Hopson Development Holdings Ltd | 1,466 | |||||||
| 262 | Hoshino Resorts REIT, Inc | 1,268 | ||||||||
| 933,970 | Host Hotels and Resorts, Inc | 14,645 | ||||||||
| 37,950 | * | Howard Hughes Corp | 2,583 | |||||||
| 138 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 306,000 | Huaku Development Co Ltd | $ | 915 | |||||||
| 114,854 | Hudson Pacific Properties | 1,704 | ||||||||
| 135,319 | Hufvudstaden AB (Series A) | 1,498 | ||||||||
| 1,460,000 | e | Huijing Holdings Co Ltd | 333 | |||||||
| 295,383 | Hulic Co Ltd | 2,291 | ||||||||
| 1,705 | Hulic Reit, Inc | 2,011 | ||||||||
| 389,609 | Hyprop Investments Ltd | 798 | ||||||||
| 693,696 | Hysan Development Co Ltd | 2,093 | ||||||||
| 42,749 | Icade | 2,098 | ||||||||
| 313,725 | Ichigo Holdings Co Ltd | 724 | ||||||||
| 1,449 | Ichigo Real Estate Investment Corp | 904 | ||||||||
| 2,856,200 | IGB Real Estate Investment Trust | 1,037 | ||||||||
| 206,900 | Iguatemi S.A. | 711 | ||||||||
| 326,900 | Iguatemi S.A. | 144 | ||||||||
| 4,634 | Immobel S.A. | 294 | ||||||||
| 61,748 | Immobiliare Grande Distribuzione SIIQ S.p.A | 230 | ||||||||
| 39,697 | e | IMMOFINANZ AG. | 602 | |||||||
| 346,177 | Impact Healthcare Reit plc | 492 | ||||||||
| 402,736 | Independence Realty Trust, Inc | 8,349 | ||||||||
| 517,745 | * | Indiabulls Real Estate Ltd | 402 | |||||||
| 4,475 | e | Indus Realty Trust, Inc | 266 | |||||||
| 2,275 | Industrial & Infrastructure Fund Investment Corp | 3,012 | ||||||||
| 714,211 | Industrial Buildings Corp | 2,089 | ||||||||
| 448,960 | Industrial Logistics Properties Trust | 6,321 | ||||||||
| 2,133,221 | Ingenia Communities Group | 5,876 | ||||||||
| 345,670 | Inmobiliaria Colonial S.A. | 2,211 | ||||||||
| 26,926 | Innovative Industrial Properties, Inc | 2,958 | ||||||||
| 58,257 | g | Instone Real Estate Group AG. | 691 | |||||||
| 82,149 | InterRent Real Estate Investment Trust | 765 | ||||||||
| 1,275 | Intershop Holding AG. | 824 | ||||||||
| 26,831 | Intervest Offices | 703 | ||||||||
| 56,453 | InvenTrust Properties Corp | 1,456 | ||||||||
| 663,371 | Investec Property Fund Ltd | 427 | ||||||||
| 19,517 | Invincible Investment Corp | 5,749 | ||||||||
| 562,612 | Invitation Homes, Inc | 20,018 | ||||||||
| 1,600,100 | IOI Properties Group BHD | 363 | ||||||||
| 975,492 | Irish Residential Properties REIT plc | 1,294 | ||||||||
| 279,645 | Iron Mountain, Inc | 13,616 | ||||||||
| 609,305 | e | Irongate Group | 799 | |||||||
| 493,373 | * | Is Gayrimenkul Yatirim Ortakligi AS | 421 | |||||||
| 153,178 | Israel Canada T.R Ltd | 594 | ||||||||
| 18,480 | Israel Land Development Co Ltd | 285 | ||||||||
| 2,185 | Isras Investment Co Ltd | 419 | ||||||||
| 55,747 | iStar Inc | 764 | ||||||||
| 1,286 | ITOCHU Advance Logistics Investment Corp | 1,427 | ||||||||
| 884,421 | * | IWG plc | 2,025 | |||||||
| 200,820 | Jadwa REIT Saudi Fund | 627 | ||||||||
| 1,442 | Japan Excellent, Inc | 1,304 | ||||||||
| 13,647 | Japan Hotel REIT Investment Corp | 6,843 | ||||||||
| 971 | Japan Logistics Fund Inc | 2,245 | ||||||||
| 983 | Japan Prime Realty Investment Corp | 2,892 | ||||||||
| 991 | Japan Real Estate Investment Corp | 4,563 | ||||||||
| 139 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 4,602 | Japan Retail Fund Investment Corp | $ | 3,586 | |||||||
| 84,135 | JBG SMITH Properties | 1,989 | ||||||||
| 385,600 | JHSF Participacoes S.A. | 430 | ||||||||
| 1,596,750 | *,† | Jiangsu Future Land Co Ltd | 16 | |||||||
| 2,226,000 | e | Jiayuan International Group Ltd | 123 | |||||||
| 182,105 | Jinke Properties Group Co Ltd | 78 | ||||||||
| 35,463 | * | Jinmao Property Services Co Ltd | 22 | |||||||
| 31,593 | * | Jones Lang LaSalle, Inc | 5,524 | |||||||
| 139,707 | JR Reit XXVII | 522 | ||||||||
| 1,248,329 | K Wah International Holdings Ltd | 460 | ||||||||
| 2,718,000 | †,e | Kaisa Group Holdings Ltd | 146 | |||||||
| 341,252 | Katitas Co Ltd | 7,379 | ||||||||
| 230,211 | * | KE Holdings, Inc (ADR) | 4,132 | |||||||
| 33,000 | Keihanshin Building Co Ltd | 319 | ||||||||
| 527 | Kenedix Realty Investment Corp | 2,650 | ||||||||
| 1,146 | Kenedix Residential Investment Corp | 1,838 | ||||||||
| 689 | Kenedix Retail REIT Corp | 1,399 | ||||||||
| 338,664 | Kennedy-Wilson Holdings, Inc | 6,414 | ||||||||
| 1,638,217 | Keppel DC REIT | 2,324 | ||||||||
| 2,174,891 | Keppel REIT | 1,707 | ||||||||
| 1,050,914 | Keppel-KBS US REIT | 736 | ||||||||
| 649,000 | Kerry Properties Ltd | 1,805 | ||||||||
| 66,116 | * | K-fast Holding AB | 132 | |||||||
| 147,051 | Killam Apartment Real Estate Investment Trust | 1,959 | ||||||||
| 119,941 | Kilroy Realty Corp | 6,277 | ||||||||
| 1,239,007 | Kimco Realty Corp | 24,495 | ||||||||
| 416,800 | Kindom Construction Co | 457 | ||||||||
| 181,546 | Kite Realty Group Trust | 3,139 | ||||||||
| 1,988,398 | Kiwi Property Group Ltd | 1,210 | ||||||||
| 54,916 | * | Kizilbuk Gayrimenkul Yatirim Ortakligi AS. | 261 | |||||||
| 29,461 | Klepierre | 570 | ||||||||
| 156,513 | e | Kojamo Oyj | 2,718 | |||||||
| 163,786 | Korea Real Estate Investment Trust Co | 216 | ||||||||
| 1,499,000 | KWG Group Holdings Ltd | 479 | ||||||||
| 1,072,000 | KWG Living Group Holdings Ltd | 336 | ||||||||
| 83,488 | Lamar Advertising Co | 7,344 | ||||||||
| 83,565 | * | Lamda Development S.A. | 494 | |||||||
| 9,839,377 | Land and Houses PCL Co Reg | 2,325 | ||||||||
| 159,183 | Land Securities Group plc | 1,292 | ||||||||
| 71,349 | Lar Espana Real Estate Socimi S.A. | 355 | ||||||||
| 2,123 | LaSalle Logiport REIT | 2,612 | ||||||||
| 14,109 | LEG Immobilien AG. | 1,174 | ||||||||
| 715,178 | Lend Lease Corp Ltd | 4,505 | ||||||||
| 2,074,944 | Lendlease Global Commercial REIT | 1,188 | ||||||||
| 197,243 | * | Leopalace21 Corp | 415 | |||||||
| 236,117 | Lexington Realty Trust | 2,536 | ||||||||
| 43,911 | Life Storage, Inc | 4,903 | ||||||||
| 113,510 | Lifestyle Communities Ltd | 1,064 | ||||||||
| 2,239,426 | Link REIT | 18,299 | ||||||||
| 35,003,300 | * | Lippo Karawaci Tbk PT | 263 | |||||||
| 239,367 | LOG Commercial Properties e Participacoes S.A. | 836 | ||||||||
| 1,152,528 | †,e | Logan Property Holdings Co Ltd | 320 | |||||||
| 140 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 2,649,702 | LondonMetric Property plc | $ | 7,364 | |||||||
| 2,093,593 | g | Longfor Properties Co Ltd | 9,957 | |||||||
| 139,094 | LOTTE Reit Co Ltd | 576 | ||||||||
| 31,405 | LTC Properties, Inc | 1,206 | ||||||||
| 1,842,649 | LXI REIT plc | 3,192 | ||||||||
| 717,274 | Mabanee Co KPSC | 1,762 | ||||||||
| 477,348 | Macerich Co | 4,158 | ||||||||
| 73,155 | * | Mack-Cali Realty Corp | 969 | |||||||
| 1,127,506 | Macquarie CountryWide Trust | 2,944 | ||||||||
| 1,305,500 | g | Macquarie Mexico Real Estate Management SA de CV | 1,631 | |||||||
| 1,405,300 | Mah Sing Group BHD | 192 | ||||||||
| 88,733 | * | Mahindra Lifespace Developers Ltd | 459 | |||||||
| 1,869,950 | Manulife US Real Estate Investment Trust | 1,066 | ||||||||
| 35,779 | *,†,e | Mapeley Ltd | 0 | ^ | ||||||
| 2,429,384 | Mapletree Commercial Trust | 3,202 | ||||||||
| 2,286,447 | Mapletree Industrial Trust | 4,280 | ||||||||
| 3,411,587 | Mapletree Logistics Trust | 4,129 | ||||||||
| 166,119 | Marcus & Millichap, Inc | 6,145 | ||||||||
| 524,300 | Matrix Concepts Holdings BHD | 281 | ||||||||
| 833,100 | * | MBK PCL | 385 | |||||||
| 1,225,558 | Medical Properties Trust, Inc | 18,714 | ||||||||
| 28,865 | Mega Or Holdings Ltd | 874 | ||||||||
| 10,953,000 | Megaworld Corp | 431 | ||||||||
| 27,417 | * | Melisron Ltd | 1,839 | |||||||
| 84,087 | Mercialys S.A | 683 | ||||||||
| 402,302 | Merlin Properties Socimi S.A. | 3,896 | ||||||||
| 268,637 | Mid-America Apartment Communities, Inc | 46,923 | ||||||||
| 360,800 | g | Midea Real Estate Holding Ltd | 585 | |||||||
| 150,400 | g | Mindspace Business Parks REIT | 667 | |||||||
| 23,212 | g | Minto Apartment Real Estate REIT NPV | 264 | |||||||
| 2,023 | Mirai Corp | 745 | ||||||||
| 4,092,692 | Mirvac Group | 5,594 | ||||||||
| 2,671,944 | Mitsubishi Estate Co Ltd | 38,725 | ||||||||
| 485 | Mitsubishi Estate Logistics REIT Investment Corp | 1,647 | ||||||||
| 612,053 | Mitsui Fudosan Co Ltd | 13,150 | ||||||||
| 964 | Mitsui Fudosan Logistics Park, Inc | 3,647 | ||||||||
| 8,182 | e | Mobimo Holding AG. | 1,991 | |||||||
| 17,177 | Montea C.V.A | 1,646 | ||||||||
| 9,356 | e | Morguard Corp | 792 | |||||||
| 23,021 | Morguard North American Resid | 293 | ||||||||
| 2,935 | Mori Hills REIT Investment Corp | 3,300 | ||||||||
| 378 | Mori Trust Hotel Reit, Inc | 350 | ||||||||
| 1,127 | Mori Trust Sogo Reit, Inc | 1,180 | ||||||||
| 1,153,400 | MREIT, Inc | 319 | ||||||||
| 341,000 | Multiplan Empreendimentos Imobiliarios S.A. | 1,430 | ||||||||
| 21,648 | *,†,e | Nam Tai Property, Inc | 91 | |||||||
| 36,807 | e | National Health Investors, Inc | 2,231 | |||||||
| 1,190,146 | * | National Real Estate Co KPSC | 622 | |||||||
| 93,122 | National Retail Properties, Inc | 4,004 | ||||||||
| 263,463 | National Storage Affiliates Trust | 13,192 | ||||||||
| 2,399,737 | National Storage REIT | 3,560 | ||||||||
| 2,428,000 | Neo-China Land Group Holdings Ltd | 207 | ||||||||
| 141 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 523,348 | NEPI Rockcastle plc | $ | 2,791 | |||||||
| 21,640 | NESCO Ltd | 151 | ||||||||
| 260,267 | NETSTREIT Corp | 4,911 | ||||||||
| 1,643,193 | New World Development Co Ltd | 5,919 | ||||||||
| 429,867 | Newmark Group, Inc | 4,157 | ||||||||
| 46,276 | Nexity | 1,243 | ||||||||
| 26,256 | Nexpoint Real Estate Finance, Inc | 532 | ||||||||
| 49,500 | NexPoint Residential Trust, Inc | 3,094 | ||||||||
| 32,398 | Nexus Real Estate Investment Trust | 244 | ||||||||
| 580 | Nippon Accommodations Fund, Inc | 2,918 | ||||||||
| 1,497 | e | Nippon Building Fund, Inc | 7,471 | |||||||
| 2,132 | Nippon ProLogis REIT, Inc | 5,251 | ||||||||
| 538 | e | NIPPON REIT Investment Corp | 1,445 | |||||||
| 78,925 | Nomura Real Estate Holdings, Inc | 1,931 | ||||||||
| 4,445 | Nomura Real Estate Master Fund, Inc | 5,552 | ||||||||
| 128,561 | NorthWest Healthcare Properties Real Estate Investment Trust | 1,205 | ||||||||
| 21,167 | NSI NV | 729 | ||||||||
| 191,063 | e | Nyfosa AB | 1,434 | |||||||
| 154,758 | Oberoi Realty Ltd | 1,452 | ||||||||
| 10,456 | * | Offerpad Solutions, Inc | 23 | |||||||
| 40,281 | Office Properties Income Trust | 804 | ||||||||
| 87,756 | Omega Healthcare Investors, Inc | 2,474 | ||||||||
| 13,817 | e | One Liberty Properties, Inc | 359 | |||||||
| 284 | One REIT, Inc | 562 | ||||||||
| 413,666 | *,e | Opendoor Technologies, Inc | 1,948 | |||||||
| 1,001,900 | Origin Property PCL | 287 | ||||||||
| 200,172 | e | Orion Office REIT, Inc | 2,194 | |||||||
| 3,187 | Orix JREIT, Inc | 4,330 | ||||||||
| 2,461,674 | OUE Commercial Real Estate Investment Trust | 683 | ||||||||
| 571,301 | Outfront Media, Inc | 9,684 | ||||||||
| 726,822 | Overseas Union Enterprise Ltd | 670 | ||||||||
| 21,821,200 | * | Pakuwon Jati Tbk PT | 692 | |||||||
| 108,713 | * | Pandox AB | 1,225 | |||||||
| 948,007 | Paramount Group, Inc | 6,854 | ||||||||
| 113,374 | Park Hotels & Resorts, Inc | 1,539 | ||||||||
| 444,124 | Parkway Life Real Estate Investment Trust | 1,558 | ||||||||
| 604,487 | Parque Arauco S.A. | 471 | ||||||||
| 79,622 | Patrizia Immobilien AG. | 941 | ||||||||
| 10,562 | e | Peach Property Group AG. | 391 | |||||||
| 111,098 | Pebblebrook Hotel Trust | 1,841 | ||||||||
| 113,495 | * | PEXA Group Ltd | 1,087 | |||||||
| 195,495 | e | Phillips Edison & Co, Inc | 6,532 | |||||||
| 116,917 | Phoenix Mills Ltd | 1,758 | ||||||||
| 186,040 | Physicians Realty Trust | 3,246 | ||||||||
| 627,315 | Picton Property Income Ltd | 677 | ||||||||
| 236,764 | Piedmont Office Realty Trust, Inc | 3,106 | ||||||||
| 949,600 | PLA Administradora Industrial S de RL de C.V. | 1,269 | ||||||||
| 73,146 | Platzer Fastigheter Holding AB | 475 | ||||||||
| 434,067 | Plaza S.A. | 336 | ||||||||
| 71,242 | Plymouth Industrial REIT, Inc | 1,250 | ||||||||
| 2,571,000 | Poly Hong Kong Investment Ltd | 621 | ||||||||
| 865,162 | Poly Real Estate Group Co Ltd | 2,260 | ||||||||
| 142 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 9,151 | e | Postal Realty Trust, Inc | $ | 136 | ||||||
| 112,668 | PotlatchDeltic Corp | 4,979 | ||||||||
| 184,500 | Powerlong Commercial Management Holdings Ltd | 126 | ||||||||
| 1,453,000 | Powerlong Real Estate Holdings Ltd | 243 | ||||||||
| 7,992 | Prashkovsky Investments and Construction Ltd | 250 | ||||||||
| 1,538,376 | Precinct Properties New Zealand Ltd | 1,314 | ||||||||
| 1,613 | Premier Investment Co | 1,762 | ||||||||
| 163,911 | Prestige Estates Projects Ltd | 808 | ||||||||
| 101,368 | Primaris REIT | 963 | ||||||||
| 1,463,074 | Primary Health Properties plc | 2,431 | ||||||||
| 666,400 | Prime US REIT | 450 | ||||||||
| 1,247,000 | Prince Housing & Development Corp | 500 | ||||||||
| 562,300 | ProLogis Property Mexico S.A. de C.V. | 1,475 | ||||||||
| 1,966,206 | Prologis, Inc | 231,324 | ||||||||
| 4,405 | * | Property & Building Corp | 347 | |||||||
| 1,443,000 | Prosperity REIT | 441 | ||||||||
| 587,071 | PRS REIT PLC | 755 | ||||||||
| 757,800 | Pruksa Holding PCL | 281 | ||||||||
| 3,638 | PS Business Parks, Inc | 681 | ||||||||
| 87,541 | PSP Swiss Property AG. | 9,746 | ||||||||
| 11,402,900 | PT Ciputra Development Tbk | 658 | ||||||||
| 16,315,400 | *,† | PT Hanson International Tbk | 0 | ^ | ||||||
| 170,013 | Public Storage, Inc | 53,158 | ||||||||
| 11,503,000 | Quality House PCL | 684 | ||||||||
| 902,000 | Radiance Holdings Group Co Ltd | 529 | ||||||||
| 124,422 | Rayonier, Inc | 4,651 | ||||||||
| 16,458 | Re/Max Holdings, Inc | 404 | ||||||||
| 93,890 | *,e | Real Matters, Inc | 371 | |||||||
| 98,483 | * | Realogy Holdings Corp | 968 | |||||||
| 182,163 | Realty Income Corp | 12,434 | ||||||||
| 1,246,000 | *,e,g | Redco Properties Group Ltd | 319 | |||||||
| 7,995,351 | Redefine Properties Ltd | 1,804 | ||||||||
| 18,243 | *,e | Redfin Corp | 150 | |||||||
| 1,249,000 | Redsun Properties Group Ltd | 409 | ||||||||
| 449,980 | Regency Centers Corp | 26,688 | ||||||||
| 438,017 | g | Regional REIT Ltd | 387 | |||||||
| 208,630 | Reit Ltd | 1,096 | ||||||||
| 125,328 | Relo Holdings, Inc | 2,021 | ||||||||
| 386,936 | Resilient REIT Ltd | 1,271 | ||||||||
| 12,144 | Retail Estates NV | 810 | ||||||||
| 102,956 | Retail Opportunities Investment Corp | 1,625 | ||||||||
| 1,194,878 | Rexford Industrial Realty, Inc | 68,813 | ||||||||
| 214,569 | RioCan Real Estate Investment Trust | 3,337 | ||||||||
| 4,526,700 | RL Commercial REIT, Inc | 511 | ||||||||
| 140,628 | RLJ Lodging Trust | 1,551 | ||||||||
| 74,927 | RMR Group, Inc | 2,124 | ||||||||
| 276,000 | Road King Infrastructure | 197 | ||||||||
| 2,409,500 | Robinsons Land Corp | 756 | ||||||||
| 680,500 | Ronshine China Holdings Ltd | 169 | ||||||||
| 105,263 | RPT Realty | 1,035 | ||||||||
| 1,298,708 | Ruentex Development Co Ltd | 3,210 | ||||||||
| 445,415 | e | Rural Funds Group | 772 | |||||||
| 143 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 53,438 | * | Ryman Hospitality Properties | $ | 4,063 | ||||||
| 485,141 | Sabra Healthcare REIT, Inc | 6,777 | ||||||||
| 9,034 | e | Safehold, Inc | 320 | |||||||
| 680,096 | Safestore Holdings plc | 8,806 | ||||||||
| 199,317 | Sagax AB | 3,695 | ||||||||
| 180,259 | e | Samhallsbyggnadsbolaget i - D | 275 | |||||||
| 1,240,169 | e | Samhallsbyggnadsbolaget i Norden AB | 2,073 | |||||||
| 28,130 | SAMTY Co Ltd | 418 | ||||||||
| 365 | Samty Residential Investment Corp | 365 | ||||||||
| 13,631,700 | Sansiri PCL | 390 | ||||||||
| 1,322,900 | Sasseur Real Estate Investment Trust | 743 | ||||||||
| 219,260 | * | Saudi Real Estate Co | 784 | |||||||
| 2,921 | Saul Centers, Inc | 138 | ||||||||
| 168,386 | Savills plc | 2,076 | ||||||||
| 117,461 | SBA Communications Corp | 37,593 | ||||||||
| 2,511,600 | SC Asset Corp PCL | 231 | ||||||||
| 656,000 | *,e | SCE Intelligent Commercial Management Holdings Ltd | 135 | |||||||
| 5,410,414 | Scentre Group | 9,715 | ||||||||
| 1,727,461 | Seazen Group Ltd | 856 | ||||||||
| 109,898 | Seazen Holdings Co Ltd | 418 | ||||||||
| 319,103 | Secure Income REIT plc | 1,830 | ||||||||
| 237,414 | Segro plc | 2,834 | ||||||||
| 4,958 | Sekisui House Reit, Inc | 2,942 | ||||||||
| 234,402 | Sella Capital Real Estate Ltd | 642 | ||||||||
| 47,834 | Selvaag Bolig ASA | 173 | ||||||||
| 34,807 | *,e | Seritage Growth Properties | 181 | |||||||
| 522,976 | Service Properties Trust | 2,735 | ||||||||
| 220,931 | Shaftesbury plc | 1,400 | ||||||||
| 200,400 | Shanghai Jinqiao Export Processing Zone Development Co Ltd | 205 | ||||||||
| 151,337 | Shanghai Lingang Holdings Corp Ltd | 307 | ||||||||
| 1,704,892 | Shanghai Lujiazui Finance & Trade Zone Development Co Ltd | 1,500 | ||||||||
| 110,349 | Shanghai Zhangjiang High-Tech Park Development Co Ltd | 206 | ||||||||
| 3,292,000 | Shenzhen Investment Ltd | 656 | ||||||||
| 928,370 | †,e | Shimao Property Holdings Ltd | 390 | |||||||
| 1,155,000 | *,e,g | Shimao Services Holdings Ltd | 561 | |||||||
| 1,868,388 | Shopping Centres Australasia Property Group | 3,559 | ||||||||
| 2,674,000 | Shoucheng Holdings Ltd | 403 | ||||||||
| 9,158,000 | Shui On Land Ltd | 1,240 | ||||||||
| 1,513,469 | * | Shun TAK Holdings Ltd | 304 | |||||||
| 32,388 | e | Shurgard Self Storage Europe Sarl | 1,510 | |||||||
| 2,605,000 | Sime Darby Property BHD | 266 | ||||||||
| 1,126,959 | Simon Property Group, Inc | 106,971 | ||||||||
| 2,829,400 | * | Singha Estate PCL | 155 | |||||||
| 3,586,648 | Sino Land Co | 5,296 | ||||||||
| 3,721,000 | Sino-Ocean Land Holdings Ltd | 632 | ||||||||
| 311,000 | Sinyi Realty Co | 319 | ||||||||
| 1,354,934 | Sirius Real Estate Ltd | 1,471 | ||||||||
| 565,486 | SITE Centers Corp | 7,617 | ||||||||
| 12,278 | SK D&D Co Ltd | 244 | ||||||||
| 61,000 | SK REITs Co Ltd | 270 | ||||||||
| 3,642,000 | Skyfame Realty Holdings Ltd | 46 | ||||||||
| 67,255 | e | SL Green Realty Corp | 3,104 | |||||||
| 144 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 99,806 | Slate Grocery REIT | $ | 1,128 | |||||||
| 13,314,288 | SM Prime Holdings | 8,860 | ||||||||
| 85,927 | SmartCentres Real Estate Investment Trust | 1,835 | ||||||||
| 48,906 | Sobha Ltd | 359 | ||||||||
| 2,415,500 | *,e | Soho China Ltd | 459 | |||||||
| 749 | SOSiLA Logistics REIT, Inc | 802 | ||||||||
| 1,878,400 | SP Setia BHD | 290 | ||||||||
| 42,550 | Sparkassen Immobilien AG. | 1,018 | ||||||||
| 2,540,912 | SPH REIT | 1,711 | ||||||||
| 306,141 | Spirit Realty Capital, Inc | 11,566 | ||||||||
| 10,200 | * | SRE Holdings Corp | 172 | |||||||
| 49,896 | St. Joe Co | 1,974 | ||||||||
| 557,059 | STAG Industrial, Inc | 17,202 | ||||||||
| 2,784 | Star Asia Investment Corp | 1,260 | ||||||||
| 1,658,029 | Starhill Global REIT | 692 | ||||||||
| 34,800 | Starts Corp, Inc | 714 | ||||||||
| 279 | Starts Proceed Investment Corp | 497 | ||||||||
| 1,343,044 | Stockland Trust Group | 3,353 | ||||||||
| 1,338,081 | StorageVault Canada, Inc | 6,164 | ||||||||
| 441,579 | STORE Capital Corp | 11,516 | ||||||||
| 4,757 | * | Stratus Properties, Inc | 153 | |||||||
| 203,406 | Sumitomo Realty & Development Co Ltd | 5,370 | ||||||||
| 11,220,400 | * | Summarecon Agung Tbk PT | 430 | |||||||
| 1,068,066 | * | Summit Hotel Properties, Inc | 7,765 | |||||||
| 105,553 | Summit Industrial Income REIT | 1,403 | ||||||||
| 44,998 | Summit Real Estate Holdings Ltd | 721 | ||||||||
| 227,661 | Sun Communities, Inc | 36,280 | ||||||||
| 92,580 | Sun Frontier Fudousan Co Ltd | 761 | ||||||||
| 1,496,623 | Sun Hung Kai Properties Ltd | 17,720 | ||||||||
| 3,507,197 | †,e | Sunac China Holdings Ltd | 1,024 | |||||||
| 1,253,000 | g | Sunac Services Holdings Ltd | 764 | |||||||
| 792,000 | *,e | Sunkwan Properties Group Ltd | 127 | |||||||
| 1,162,000 | Sunlight Real Estate Investment Trust | 541 | ||||||||
| 274,061 | * | Sunstone Hotel Investors, Inc | 2,719 | |||||||
| 2,598,200 | Suntec Real Estate Investment Trust | 3,031 | ||||||||
| 68,117 | Sunteck Realty Ltd | 431 | ||||||||
| 2,217,700 | Sunway Real Estate Investment | 750 | ||||||||
| 2,678,000 | Supalai PCL | 1,410 | ||||||||
| 1,140,502 | e | Supermarket Income Reit plc | 1,659 | |||||||
| 510,128 | Swire Pacific Ltd (Class A) | 3,047 | ||||||||
| 1,197,771 | Swire Properties Ltd | 2,982 | ||||||||
| 82,825 | Swiss Prime Site AG. | 7,277 | ||||||||
| 309,487 | TAG Tegernsee Immobilien und Beteiligungs AG. | 3,543 | ||||||||
| 640 | Takara Leben Real Estate Investment Corp | 554 | ||||||||
| 1,057,069 | Talaat Moustafa Group | 394 | ||||||||
| 19,059 | Tanger Factory Outlet Centers, Inc | 271 | ||||||||
| 756,391 | Target Healthcare REIT plc | 998 | ||||||||
| 18,241 | * | Tejon Ranch Co | 283 | |||||||
| 92,486 | Terreno Realty Corp | 5,154 | ||||||||
| 19,271 | * | TKP Corp | 251 | |||||||
| 41,480 | TOC Co Ltd | 220 | ||||||||
| 293,793 | Tokyo Tatemono Co Ltd | 4,053 | ||||||||
| 145 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 718,200 | Tokyu Fudosan Holdings Corp | $ | 3,780 | |||||||
| 1,015 | Tokyu REIT, Inc | 1,489 | ||||||||
| 32,843 | Tosei Corp | 305 | ||||||||
| 997 | * | Transcontinental Realty Investors, Inc | 40 | |||||||
| 307,292 | Tricon Capital Group, Inc | 3,115 | ||||||||
| 8,913,953 | Tritax Big Box REIT plc | 19,753 | ||||||||
| 10,040,244 | g | Tritax EuroBox plc | 10,488 | |||||||
| 28,258 | UDR, Inc | 1,301 | ||||||||
| 886,669 | UK Commercial Property REIT Ltd | 810 | ||||||||
| 46,458 | UMH Properties, Inc | 820 | ||||||||
| 5,538 | * | Unibail-Rodamco-Westfield | 282 | |||||||
| 10,941 | * | Unibail-Rodamco-Westfield | 556 | |||||||
| 527,712 | Unite Group plc | 6,860 | ||||||||
| 2,145,152 | United Development Co PSC | 819 | ||||||||
| 4,642 | United Urban Investment Corp | 4,880 | ||||||||
| 202,316 | Uniti Group, Inc | 1,906 | ||||||||
| 2,446 | e | Universal Health Realty Income Trust | 130 | |||||||
| 481,333 | UOL Group Ltd | 2,551 | ||||||||
| 98,035 | Urban Edge Properties | 1,491 | ||||||||
| 552,496 | Urban Logistics REIT plc | 1,089 | ||||||||
| 25,648 | Urstadt Biddle Properties, Inc (Class A) | 416 | ||||||||
| 15,203 | Vastned Retail NV | 339 | ||||||||
| 546,994 | Ventas, Inc | 28,132 | ||||||||
| 11,512 | VGP NV | 1,836 | ||||||||
| 1,121,691 | VICI Properties, Inc | 33,415 | ||||||||
| 3,988,939 | Vicinity Centres | 5,067 | ||||||||
| 3,131,000 | Vista Land & Lifescapes, Inc | 113 | ||||||||
| 18,819 | Vornado Realty Trust | 538 | ||||||||
| 943,759 | e | Vukile Property Fund Ltd | 740 | |||||||
| 416,133 | * | Wallenstam AB | 1,820 | |||||||
| 494,674 | Warehouse REIT plc | 887 | ||||||||
| 341,709 | Warehouses De Pauw CVA | 10,782 | ||||||||
| 83,280 | Washington REIT | 1,775 | ||||||||
| 373,834 | Watkin Jones plc | 1,004 | ||||||||
| 1,316,823 | Waypoint REIT | 2,112 | ||||||||
| 413,725 | Welltower, Inc | 34,070 | ||||||||
| 39,458 | Wereldhave NV | 593 | ||||||||
| 13,940 | *,e | WeWork, Inc | 70 | |||||||
| 703,545 | Weyerhaeuser Co | 23,301 | ||||||||
| 10,180,400 | WHA Corp PCL | 883 | ||||||||
| 1,466,606 | Wharf Holdings Ltd | 5,345 | ||||||||
| 1,772,897 | Wharf Real Estate Investment Co Ltd | 8,466 | ||||||||
| 179,994 | Whitestone REIT | 1,935 | ||||||||
| 341,696 | Wihlborgs Fastigheter AB | 2,390 | ||||||||
| 165,656 | Workspace Group plc | 1,116 | ||||||||
| 14,613 | WP Carey, Inc | 1,211 | ||||||||
| 97,110 | * | Xenia Hotels & Resorts, Inc | 1,411 | |||||||
| 27,092 | e | Xior Student Housing NV | 1,179 | |||||||
| 710,742 | Yanlord Land Group Ltd | 542 | ||||||||
| 9,050 | YH Dimri Construction & Development Ltd | 696 | ||||||||
| 458,000 | e | Yincheng International Holding Co Ltd | 198 | |||||||
| 465,000 | YTL Hospitality REIT | 100 | ||||||||
| 146 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,633,426 | Yuexiu Property Co Ltd | $ | 2,099 | |||||||
| 2,660,000 | Yuexiu Real Estate Investment Trust | 1,037 | ||||||||
| 455,000 | Yuexiu Services Group Ltd | 229 | ||||||||
| 2,642,000 | e | Yuzhou Group Holdings Co Ltd | 157 | |||||||
| 643,000 | *,e | Zensun Enterprises Ltd | 254 | |||||||
| 306,700 | Zhejiang China Commodities City Group Co Ltd | 256 | ||||||||
| 911,000 | Zhongliang Holdings Group Co Ltd | 153 | ||||||||
| 2,498,000 | * | Zhuguang Holdings Group Co Ltd | 357 | |||||||
| 53,548 | * | Zillow Group, Inc (Class A) | 1,703 | |||||||
| 149,936 | *,e | Zillow Group, Inc (Class C) | 4,760 | |||||||
| TOTAL REAL ESTATE | 3,284,873 | |||||||||
| RETAILING - 4.9% | ||||||||||
| 22,708 | * | 1-800-FLOWERS.COM, Inc (Class A) | 216 | |||||||
| 19,310 | * | 1stdibs.com, Inc | 110 | |||||||
| 25,758 | Aaron’s Co, Inc | 375 | ||||||||
| 39,800 | ABC-Mart, Inc | 1,761 | ||||||||
| 42,290 | * | Abercrombie & Fitch Co (Class A) | 716 | |||||||
| 44,838 | * | About You Holding SE | 320 | |||||||
| 3,744,440 | Abu Dhabi National Oil Co for Distribution PJSC | 4,305 | ||||||||
| 187,986 | e | Academy Sports & Outdoors, Inc | 6,681 | |||||||
| 413,137 | Accent Group Ltd | 354 | ||||||||
| 7,821,800 | Ace Hardware Indonesia Tbk PT | 404 | ||||||||
| 27,330 | Adastria Holdings Co Ltd | 452 | ||||||||
| 455,186 | Advance Auto Parts, Inc | 78,788 | ||||||||
| 2,739 | * | aka Brands Holding Corp | 8 | |||||||
| 23,520,544 | * | Alibaba Group Holding Ltd | 335,530 | |||||||
| 3,229,829 | *,e | Alibaba Health Information Technology Ltd | 2,244 | |||||||
| 535,948 | *,g | Allegro.eu S.A. | 2,881 | |||||||
| 1,256,200 | AllHome Corp | 109 | ||||||||
| 15,990 | e | Alpen Co Ltd | 239 | |||||||
| 17,698,819 | *,n | Amazon.com, Inc | 1,879,792 | |||||||
| 128,320 | American Eagle Outfitters, Inc | 1,435 | ||||||||
| 22,002,253 | Americanas S.A. | 56,462 | ||||||||
| 5,148 | * | America’s Car-Mart, Inc | 518 | |||||||
| 379,531 | *,e | AO World plc | 320 | |||||||
| 34,600 | e | AOKI Holdings, Inc | 178 | |||||||
| 182,720 | AP Eagers Ltd | 1,227 | ||||||||
| 4,060,000 | *,e | Apollo Future Mobility Group Ltd | 177 | |||||||
| 26,203 | *,e,g | Aramis Group SAS | 119 | |||||||
| 23,222 | Arata Corp | 669 | ||||||||
| 30,576 | Arc Land Sakamoto Co Ltd | 341 | ||||||||
| 103,673 | * | Aritzia, Inc | 2,807 | |||||||
| 117,291 | Arko Corp | 957 | ||||||||
| 14,041 | * | Asbury Automotive Group, Inc | 2,378 | |||||||
| 254,928 | ASKUL Corp | 3,047 | ||||||||
| 84,770 | * | ASOS plc | 869 | |||||||
| 344,687 | * | Auction Technology Group plc | 3,841 | |||||||
| 99,477 | *,g | Auto1 Group SE | 733 | |||||||
| 83,788 | Autobacs Seven Co Ltd | 863 | ||||||||
| 29,737 | * | AutoCanada, Inc | 567 | |||||||
| 82,515 | * | Autonation, Inc | 9,222 | |||||||
| 147 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 20,578 | *,n | AutoZone, Inc | $ | 44,225 | ||||||
| 3,215,158 | B&M European Value Retail S.A. | 14,389 | ||||||||
| 32,887 | g | B&S Group Sarl | 172 | |||||||
| 1,324,086 | *,e | Baozun, Inc (ADR) | 14,486 | |||||||
| 399,605 | Bapcor Ltd | 1,679 | ||||||||
| 42,691 | * | BARK, Inc | 55 | |||||||
| 56,819 | Bath & Body Works, Inc | 1,530 | ||||||||
| 32,597 | *,e | Bed Bath & Beyond, Inc | 162 | |||||||
| 56,805 | Belluna Co Ltd | 312 | ||||||||
| 1,112,000 | Berjaya Auto BHD | 429 | ||||||||
| 224,426 | Best Buy Co, Inc | 14,630 | ||||||||
| 112,763 | *,e | BHG Group AB | 359 | |||||||
| 112,900 | e | BIC CAMERA, Inc | 975 | |||||||
| 18,564 | e | Big 5 Sporting Goods Corp | 208 | |||||||
| 24,610 | e | Big Lots, Inc | 516 | |||||||
| 25,154 | * | Bike24 Holding AG. | 84 | |||||||
| 85,063 | Bilia AB | 1,228 | ||||||||
| 1,202,792 | * | boohoo.com plc | 810 | |||||||
| 66,272 | * | Boot Barn Holdings, Inc | 4,567 | |||||||
| 60,569 | *,e,g | Boozt AB | 401 | |||||||
| 1,715 | *,e | Boxed, Inc | 3 | |||||||
| 52,820 | Buckle, Inc | 1,463 | ||||||||
| 4,816 | Build-A-Bear Workshop, Inc | 79 | ||||||||
| 384,122 | * | Burlington Stores, Inc | 52,329 | |||||||
| 6,552 | Caleres, Inc | 172 | ||||||||
| 109,829 | e | Camping World Holdings, Inc | 2,371 | |||||||
| 88,407 | Canadian Tire Corp Ltd | 11,154 | ||||||||
| 318,955 | * | CarMax, Inc | 28,859 | |||||||
| 386,691 | * | CarParts.com, Inc | 2,684 | |||||||
| 25,888 | * | Cartrade Tech Ltd | 195 | |||||||
| 82,071 | *,e | Carvana Co | 1,853 | |||||||
| 15,989 | Cato Corp (Class A) | 186 | ||||||||
| 196,670 | Ceconomy AG | 551 | ||||||||
| 1,807,465 | Central Retail Corp PCL | 1,792 | ||||||||
| 474,989 | * | Chico’s FAS, Inc | 2,361 | |||||||
| 303,813 | * | Children’s Place, Inc | 11,824 | |||||||
| 984,000 | China Harmony New Energy Auto Holding Ltd | 448 | ||||||||
| 127,601 | * | China International Travel Service Corp Ltd | 4,449 | |||||||
| 642,629 | China Meidong Auto Holdings Ltd | 2,042 | ||||||||
| 252,000 | e | China Tobacco International HK Co Ltd | 410 | |||||||
| 2,087,400 | Chow Tai Fook Jewellery Group Ltd | 3,943 | ||||||||
| 6,714 | *,e | Citi Trends, Inc | 159 | |||||||
| 234,568 | *,e | City Chic Collective Ltd | 297 | |||||||
| 45,324 | e | Clas Ohlson AB (B Shares) | 470 | |||||||
| 1,246,600 | Com7 PCL (Foreign) | 1,061 | ||||||||
| 12,813 | *,e | Conn’s, Inc | 103 | |||||||
| 112,865 | * | Container Store Group, Inc | 703 | |||||||
| 477,039 | * | ContextLogic, Inc | 763 | |||||||
| 583,231 | * | Coupang, Inc | 7,436 | |||||||
| 7,906 | Cuckoo Homesys Co Ltd | 173 | ||||||||
| 75,200 | * | Dada Nexus Ltd (ADR) | 610 | |||||||
| 165,146 | DCM Holdings Co Ltd | 1,265 | ||||||||
| 148 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 60,223 | Delek Automotive Systems Ltd | $ | 658 | |||||||
| 1,007,536 | *,g | Deliveroo plc | 1,115 | |||||||
| 170,617 | *,g | Delivery Hero AG. | 6,437 | |||||||
| 33,100 | *,e | Demae-Can Co Ltd | 106 | |||||||
| 549,901 | Designer Brands, Inc | 7,182 | ||||||||
| 27,735 | * | Destination XL Group, Inc | 94 | |||||||
| 4,769 | e | Dick’s Sporting Goods, Inc | 359 | |||||||
| 26,045 | Dieteren S.A. | 3,827 | ||||||||
| 784 | e | Dillard’s, Inc (Class A) | 173 | |||||||
| 1,247,865 | Dixons Carphone plc | 1,037 | ||||||||
| 1,123,946 | Dogan Sirketler Grubu Holdings | 237 | ||||||||
| 995,460 | Dohome PCL | 485 | ||||||||
| 256,203 | Dollar General Corp | 62,882 | ||||||||
| 238,185 | * | Dollar Tree, Inc | 37,121 | |||||||
| 650,149 | Dollarama, Inc | 37,437 | ||||||||
| 424,432 | Don Quijote Co Ltd | 6,767 | ||||||||
| 157,560 | *,e | DoorDash, Inc | 10,111 | |||||||
| 24,400 | Doshisha Co Ltd | 283 | ||||||||
| 158,871 | * | Dufry Group | 5,155 | |||||||
| 7,837 | * | Duluth Holdings, Inc | 75 | |||||||
| 128,619 | Dunelm Group plc | 1,284 | ||||||||
| 84,152 | e,g | Dustin Group AB | 482 | |||||||
| 1,032,789 | eBay, Inc | 43,036 | ||||||||
| 93,678 | EDION Corp | 880 | ||||||||
| 141,162 | * | Etsy, Inc | 10,334 | |||||||
| 183,092 | g | Europris ASA | 859 | |||||||
| 49,663 | *,e | EVgo, Inc | 298 | |||||||
| 52,167 | * | Express Parent LLC | 102 | |||||||
| 936,000 | Far Eastern Department Stores Co Ltd | 630 | ||||||||
| 29,185 | * | Farfetch Ltd | 209 | |||||||
| 37,290 | Fast Retailing Co Ltd | 19,588 | ||||||||
| 86,228 | * | Fawaz Abdulaziz Al Hokair & Co | 261 | |||||||
| 30,262 | Fielmann AG. | 1,512 | ||||||||
| 62,427 | * | Five Below, Inc | 7,081 | |||||||
| 35,806 | *,e | Fiverr International Ltd | 1,231 | |||||||
| 99,755 | *,e | Floor & Decor Holdings, Inc | 6,281 | |||||||
| 17,883 | Fnac Darty SA | 761 | ||||||||
| 97,763 | Foot Locker, Inc | 2,469 | ||||||||
| 379,623 | Foschini Ltd | 2,847 | ||||||||
| 9,350 | Fox Wizel Ltd | 1,068 | ||||||||
| 6,841 | Franchise Group, Inc | 240 | ||||||||
| 201,989 | * | Frasers Group plc | 1,643 | |||||||
| 371,737 | * | Funko, Inc | 8,297 | |||||||
| 276,022 | * | Future Enterprises Ltd | 23 | |||||||
| 56,967 | *,e | GameStop Corp (Class A) | 6,967 | |||||||
| 467,582 | Gap, Inc | 3,853 | ||||||||
| 11,053 | * | Genesco, Inc | 552 | |||||||
| 46,815 | Genuine Parts Co | 6,226 | ||||||||
| 27,500 | Geo Holdings Corp | 250 | ||||||||
| 106,515 | * | Global Fashion Group S.A. | 163 | |||||||
| 21,560 | * | Go Fashion India Ltd | 272 | |||||||
| 15,205,000 | *,e | GOME Electrical Appliances Holdings Ltd | 738 | |||||||
| 149 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 13,445 | Group 1 Automotive, Inc | $ | 2,283 | |||||||
| 16,355 | *,e | Groupon, Inc | 185 | |||||||
| 52,463 | *,e | GrowGeneration Corp | 188 | |||||||
| 109,900 | Grupo SBF S.A. | 398 | ||||||||
| 6,385 | Guess?, Inc | 109 | ||||||||
| 61,400 | e | Gulliver International Co Ltd | 339 | |||||||
| 511,202 | Halfords Group plc | 892 | ||||||||
| 89,725 | Hankyu Department Stores, Inc | 692 | ||||||||
| 657,115 | Harvey Norman Holdings Ltd | 1,685 | ||||||||
| 12,678 | Haverty Furniture Cos, Inc | 294 | ||||||||
| 5,008,000 | *,e | HengTen Networks Group Ltd | 1,840 | |||||||
| 800,634 | e | Hennes & Mauritz AB (B Shares) | 9,610 | |||||||
| 4,166 | Hibbett Sports, Inc | 182 | ||||||||
| 19,322 | Hikari Tsushin, Inc | 1,986 | ||||||||
| 1,631,908 | Home Depot, Inc | 447,583 | ||||||||
| 6,288,467 | Home Product Center PCL | 2,262 | ||||||||
| 683,000 | e | Hong Kong Television Network Ltd | 538 | |||||||
| 11,545 | Hornbach Holding AG. & Co KGaA | 950 | ||||||||
| 337,482 | Hotai Motor Co Ltd | 6,885 | ||||||||
| 34,773 | Hotel Shilla Co Ltd | 1,914 | ||||||||
| 280,800 | Hour Glass Ltd | 469 | ||||||||
| 2,285,000 | *,† | Hsin Chong Group Holdings Ltd | 3 | |||||||
| 17,908 | Hyundai Department Store Co Ltd | 969 | ||||||||
| 7,319 | Hyundai Home Shopping Network Corp | 286 | ||||||||
| 442,834 | Inchcape plc | 3,763 | ||||||||
| 1,014,772 | Industria De Diseno Textil S.A. | 23,061 | ||||||||
| 396,300 | Isetan Mitsukoshi Holdings Ltd | 3,208 | ||||||||
| 39,800 | Izumi Co Ltd | 898 | ||||||||
| 289,900 | J Front Retailing Co Ltd | 2,475 | ||||||||
| 69,548 | Jarir Marketing Co | 3,019 | ||||||||
| 139,844 | e | JB Hi-Fi Ltd | 3,719 | |||||||
| 800,350 | *,e,g | JD Health International, Inc | 6,336 | |||||||
| 2,666,578 | * | JD Sports Fashion plc | 3,757 | |||||||
| 3,686,668 | JD.com, Inc | 118,796 | ||||||||
| 16,142 | JINS Holdings, Inc | 509 | ||||||||
| 11,306 | e | JOANN, Inc | 88 | |||||||
| 19,920 | Joshin Denki Co Ltd | 285 | ||||||||
| 54,874 | Joyful Honda Co Ltd | 641 | ||||||||
| 124,763 | JUMBO S.A. | 1,816 | ||||||||
| 295,414 | *,g | Just Eat Takeaway.com NV | 4,642 | |||||||
| 16,493 | *,e | K Car Co Ltd | 260 | |||||||
| 36,842 | e | Kamux Corp | 301 | |||||||
| 37,487 | Keiyo Co Ltd | 251 | ||||||||
| 297,925 | Kering | 154,393 | ||||||||
| 290,843 | Kingfisher plc | 869 | ||||||||
| 13,000 | * | Kintetsu Department Store Co Ltd | 233 | |||||||
| 114,767 | *,e | Kogan.com Ltd | 221 | |||||||
| 70,496 | Kohl’s Corp | 2,516 | ||||||||
| 72,505 | Kohnan Shoji Co Ltd | 1,958 | ||||||||
| 124,352 | Komeri Co Ltd | 2,418 | ||||||||
| 28,068 | * | Koreacenter Co Ltd | 107 | |||||||
| 285,328 | K’s Holdings Corp | 2,786 | ||||||||
| 150 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 13,155 | *,e | Lands’ End, Inc | $ | 140 | ||||||
| 152,659 | *,e | Leslie’s, Inc | 2,317 | |||||||
| 465,500 | * | Lifestyle International Holdings Ltd | 189 | |||||||
| 25,986 | * | Liquidity Services, Inc | 349 | |||||||
| 25,852 | Lithia Motors, Inc (Class A) | 7,104 | ||||||||
| 87,629 | LKQ Corp | 4,302 | ||||||||
| 202,800 | Lojas Quero Quero S | 221 | ||||||||
| 1,061,680 | Lojas Renner S.A. | 4,589 | ||||||||
| 13,687 | LOTTE Himart Co Ltd | 177 | ||||||||
| 13,357 | Lotte Shopping Co Ltd | 1,074 | ||||||||
| 69,109 | Lovisa Holdings Ltd | 660 | ||||||||
| 1,373,546 | Lowe’s Companies, Inc | 239,917 | ||||||||
| 473,561 | Luk Fook Holdings International Ltd | 1,222 | ||||||||
| 767 | * | Lulu’s Fashion Lounge Holdings, Inc | 8 | |||||||
| 25,792 | * | Lumber Liquidators, Inc | 242 | |||||||
| 25,330 | Macy’s, Inc | 464 | ||||||||
| 6,602,925 | Magazine Luiza S.A. | 2,952 | ||||||||
| 36,517 | e,g | Maisons du Monde S.A. | 365 | |||||||
| 517,200 | *,e,g | Maoyan Entertainment | 529 | |||||||
| 26,863 | * | MarineMax, Inc | 970 | |||||||
| 44,248,300 | Matahari Department Store Tbk PT | 14,817 | ||||||||
| 46,066 | Matas A.S. | 481 | ||||||||
| 4,691,135 | *,g | Meituan Dianping (Class B) | 117,064 | |||||||
| 53,422 | Mekonomen AB | 578 | ||||||||
| 1,923 | * | MercadoLibre, Inc | 1,225 | |||||||
| 343,300 | *,e | Mercari, Inc | 5,007 | |||||||
| 9,680,400 | * | Mitra Adiperkasa Tbk PT | 638 | |||||||
| 50,565 | Mobilezone Holding AG. | 884 | ||||||||
| 70,800 | momo.com, Inc | 1,523 | ||||||||
| 60,422 | Monro Muffler, Inc | 2,591 | ||||||||
| 253,771 | * | Moonpig Group plc | 697 | |||||||
| 170,621 | Motus Holdings Ltd | 1,122 | ||||||||
| 2,253,300 | g | MR DIY Group M Bhd | 1,059 | |||||||
| 285,588 | Mr Price Group Ltd | 3,132 | ||||||||
| 244,500 | *,e,g | Mulsanne Group Holding Ltd | 122 | |||||||
| 20,292 | Murphy USA, Inc | 4,725 | ||||||||
| 36,569 | * | Musti Group Oyj | 656 | |||||||
| 14,900 | Nafco Co Ltd | 173 | ||||||||
| 335,080 | Naspers Ltd (N Shares) | 48,951 | ||||||||
| 141,600 | * | National Vision Holdings, Inc | 3,894 | |||||||
| 28,671 | Next plc | 2,048 | ||||||||
| 52,520 | Nextage Co Ltd | 908 | ||||||||
| 80,031 | e | Nick Scali Ltd | 456 | |||||||
| 43,135 | e | Nishimatsuya Chain Co Ltd | 454 | |||||||
| 76,917 | Nitori Co Ltd | 7,320 | ||||||||
| 35,962 | Nojima Corp | 746 | ||||||||
| 17,937 | Nordstrom, Inc | 379 | ||||||||
| 118,382 | * | ODP Corp | 3,580 | |||||||
| 30,400 | *,e | Oisix ra daichi, Inc | 372 | |||||||
| 203,229 | * | Ollie’s Bargain Outlet Holdings, Inc | 11,940 | |||||||
| 8,900 | * | OneWater Marine, Inc | 294 | |||||||
| 63,174 | * | O’Reilly Automotive, Inc | 39,911 | |||||||
| 151 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 34,596 | *,e | Overstock.com, Inc | $ | 865 | ||||||
| 59,677 | *,†,e | Ozon Holdings plc (ADR) | 1 | |||||||
| 357,000 | Padini Holdings BHD | 259 | ||||||||
| 21,628 | Pal Co Ltd | 287 | ||||||||
| 357,615 | Paltac Corp | 11,112 | ||||||||
| 113,000 | PChome Online Inc | 262 | ||||||||
| 28,411 | Penske Auto Group, Inc | 2,974 | ||||||||
| 1,727,885 | g | Pepkor Holdings Ltd | 2,031 | |||||||
| 388,300 | Pet Center Comercio e Participacoes S.A. | 737 | ||||||||
| 33,688 | e | Pet Valu Holdings Ltd | 809 | |||||||
| 277,008 | *,e | Petco Health & Wellness Co, Inc | 4,083 | |||||||
| 5,984 | e | PetMed Express, Inc | 119 | |||||||
| 589,630 | Pets at Home Group plc | 2,219 | ||||||||
| 1,814,174 | * | Pinduoduo, Inc (ADR) | 112,116 | |||||||
| 390,359 | *,e,g | Ping An Healthcare and Technology Co Ltd | 1,161 | |||||||
| 38,750 | Pool Corp | 13,610 | ||||||||
| 667,200 | e,g | Pop Mart International Group Ltd | 3,237 | |||||||
| 69,319 | *,e | Porch Group, Inc | 177 | |||||||
| 37,213 | * | Poshmark, Inc | 376 | |||||||
| 2,915,000 | Pou Sheng International Holdings Ltd | 330 | ||||||||
| 65,000 | Poya Co Ltd | 692 | ||||||||
| 137,988 | Premier Investments Ltd | 1,838 | ||||||||
| 992,477 | Prosus NV | 64,266 | ||||||||
| 1,050,200 | PTG Energy PCL (Foreign) | 402 | ||||||||
| 3,188,900 | PTT Oil & Retail Business PCL | 2,777 | ||||||||
| 53,717 | *,e | Puuilo Oyj | 269 | |||||||
| 69,693 | * | Quotient Technology, Inc | 207 | |||||||
| 282,424 | Qurate Retail Group, Inc QVC Group | 811 | ||||||||
| 375,165 | * | Rakuten, Inc | 1,696 | |||||||
| 163,428 | *,e | RealReal, Inc | 407 | |||||||
| 7,412 | *,e | Rent the Runway, Inc | 23 | |||||||
| 125,834 | Rent-A-Center, Inc | 2,447 | ||||||||
| 13,272 | Retailors Ltd | 243 | ||||||||
| 25,747 | * | Revolve Group, Inc | 667 | |||||||
| 16,001 | * | RH | 3,396 | |||||||
| 281,107 | Ross Stores, Inc | 19,742 | ||||||||
| 8,344 | * | RumbleON, Inc | 123 | |||||||
| 50,053 | e | Rvrc Holding AB | 203 | |||||||
| 404,000 | Ryohin Keikaku Co Ltd | 3,958 | ||||||||
| 1,497,831 | * | SA SA International Holdings Ltd | 275 | |||||||
| 485,700 | Sabuy Technology PCL | 264 | ||||||||
| 3,107,737 | SACI Falabella | 7,281 | ||||||||
| 22,396 | * | Sally Beauty Holdings, Inc | 267 | |||||||
| 60,800 | Sanrio Co Ltd | 1,381 | ||||||||
| 33,605 | Saudi Automotive Services Co | 311 | ||||||||
| 20,302 | Saudi Co For Hardware CJSC | 192 | ||||||||
| 91,881 | Seria Co Ltd | 1,634 | ||||||||
| 191,904 | Shanghai Yuyuan Tourist Mart Group Co Ltd | 271 | ||||||||
| 36,100 | Shimamura Co Ltd | 3,172 | ||||||||
| 8,866 | Shinsegae Co Ltd | 1,493 | ||||||||
| 15,710 | Shinsegae International Co Ltd | 366 | ||||||||
| 14,908 | Shoe Carnival, Inc | 322 | ||||||||
| 152 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 44,018 | * | Shopper’s Stop Ltd | $ | 273 | ||||||
| 39,772 | Shutterstock, Inc | 2,279 | ||||||||
| 39,644 | e | Signet Jewelers Ltd | 2,119 | |||||||
| 368,300 | Singer Thailand PCL | 462 | ||||||||
| 43,506 | g | Sleep Country Canada Holdings, Inc | 812 | |||||||
| 12,058 | * | Sleep Number Corp | 373 | |||||||
| 45,685 | *,g | SMCP S.A. | 240 | |||||||
| 17,686 | Sonic Automotive, Inc (Class A) | 648 | ||||||||
| 339,274 | * | Sportsman’s Warehouse Holdings, Inc | 3,254 | |||||||
| 4,949,044 | *,e | Steinhoff International Holdings NV | 773 | |||||||
| 45,260 | * | Stitch Fix Inc | 224 | |||||||
| 580,227 | Super Group Ltd | 1,055 | ||||||||
| 179,843 | Super Retail Group Ltd | 1,056 | ||||||||
| 51,535 | Synsam AB | 301 | ||||||||
| 3,770 | Tadiran Holdings Ltd | 505 | ||||||||
| 166,551 | e | Takashimaya Co Ltd | 1,630 | |||||||
| 38,794 | Takkt AG. | 611 | ||||||||
| 894,163 | Target Corp | 126,283 | ||||||||
| 20,369 | Telepark Corp | 243 | ||||||||
| 100,146 | * | Temple & Webster Group Ltd | 230 | |||||||
| 4,130,995 | * | THG Holdings Ltd | 4,148 | |||||||
| 42,140 | * | ThredUp, Inc | 105 | |||||||
| 22,908 | Tilly’s, Inc | 161 | ||||||||
| 3,124,382 | TJX Companies, Inc | 174,497 | ||||||||
| 53,618 | Tokmanni Group Corp | 633 | ||||||||
| 2,044,489 | g | Topsports International Holdings Ltd | 1,862 | |||||||
| 8,865 | *,e | Torrid Holdings, Inc | 38 | |||||||
| 111,634 | Tractor Supply Co | 21,640 | ||||||||
| 10,477 | * | TravelCenters of America, Inc | 361 | |||||||
| 194,019 | Trent Ltd | 2,648 | ||||||||
| 435,082 | Truworths International Ltd | 1,355 | ||||||||
| 79,450 | * | Ulta Beauty, Inc | 30,626 | |||||||
| 45,244 | * | Uni-Select, Inc | 1,005 | |||||||
| 198,099 | United Arrows Ltd | 3,063 | ||||||||
| 33,282 | United Electronics Co | 1,006 | ||||||||
| 54,499 | * | Urban Outfitters, Inc | 1,017 | |||||||
| 296,373 | USS Co Ltd | 5,137 | ||||||||
| 4,600 | Valora Holding AG. | 797 | ||||||||
| 1,563,900 | * | Via S | 574 | |||||||
| 1,225,772 | Vibra Energia S.A. | 3,914 | ||||||||
| 5,370 | * | Victorian Plumbing PLC | 4 | |||||||
| 25,328 | * | Victoria’s Secret & Co | 708 | |||||||
| 6,468,799 | * | Vipshop Holdings Ltd (ADR) | 63,976 | |||||||
| 16,069 | Vivid Seats, Inc | 120 | ||||||||
| 508,543 | g | Vivo Energy plc | 904 | |||||||
| 9,315 | * | V-Mart Retail Ltd | 294 | |||||||
| 99,241 | *,e | Volta, Inc | 129 | |||||||
| 71,988 | VT Holdings Co Ltd | 256 | ||||||||
| 15,272 | * | Warby Parker, Inc | 172 | |||||||
| 137,428 | Warehouse Group Ltd | 290 | ||||||||
| 73,368 | *,e | Wayfair, Inc | 3,196 | |||||||
| 1,328,706 | Wesfarmers Ltd | 38,431 | ||||||||
| 153 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 4,746 | Weyco Group, Inc | $ | 116 | |||||||
| 152,107 | * | WH Smith plc | 2,615 | |||||||
| 586,183 | Wickes Group plc | 1,177 | ||||||||
| 1,737,600 | Wilcon Depot, Inc | 752 | ||||||||
| 114,489 | Williams-Sonoma, Inc | 12,703 | ||||||||
| 2,472 | Winmark Corp | 483 | ||||||||
| 1,127,143 | Woolworths Holdings Ltd | 3,759 | ||||||||
| 184,800 | e | Workman Co Ltd | 7,261 | |||||||
| 289,183 | * | Wuchan Zhongda Group Co Ltd | 222 | |||||||
| 476,000 | Xinhua Winshare Publishing and Media Co Ltd | 340 | ||||||||
| 5,563 | *,e | Xometry, Inc | 189 | |||||||
| 1,169,300 | * | Yamada Denki Co Ltd | 4,205 | |||||||
| 41,633 | Yellow Hat Ltd | 528 | ||||||||
| 406,286 | *,g | Zalando SE | 10,703 | |||||||
| 670,072 | Zhongsheng Group Holdings Ltd | 4,734 | ||||||||
| 1,752,543 | * | Zomato Ltd | 1,202 | |||||||
| 136,930 | ZOZO Inc | 2,477 | ||||||||
| 13,757 | *,e | Zumiez, Inc | 358 | |||||||
| TOTAL RETAILING | 5,167,247 | |||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.5% | ||||||||||
| 35,903 | * | ACM Research, Inc | 604 | |||||||
| 285,000 | A-DATA Technology Co Ltd | 579 | ||||||||
| 3,922,289 | * | Advanced Micro Devices, Inc | 299,937 | |||||||
| 44,821 | * | Advanced Micro-Fabrication Equipment, Inc China | 784 | |||||||
| 165,000 | Advanced Wireless Semiconductor Co | 475 | ||||||||
| 172,800 | Advantest Corp | 9,293 | ||||||||
| 322,100 | e | AEM Holdings Ltd | 961 | |||||||
| 194,876 | Aixtron AG. | 4,978 | ||||||||
| 114,000 | Alchip Technologies Ltd | 2,675 | ||||||||
| 81,636 | * | Allegro MicroSystems, Inc | 1,689 | |||||||
| 97,763 | * | Alpha & Omega Semiconductor Ltd | 3,259 | |||||||
| 321,007 | *,e | Alphawave IP Group plc | 525 | |||||||
| 74,000 | Amazing Microelectronic Corp | 284 | ||||||||
| 117,283 | * | Ambarella, Inc | 7,677 | |||||||
| 507,434 | Amkor Technology, Inc | 8,601 | ||||||||
| 23,733 | * | Amlogic Shanghai Co Ltd | 359 | |||||||
| 319,907 | * | ams AG. | 2,894 | |||||||
| 617,448 | Analog Devices, Inc | 90,203 | ||||||||
| 43,000 | Andes Technology Corp | 365 | ||||||||
| 95,000 | AP Memory Technology Corp | 668 | ||||||||
| 2,793,824 | Applied Materials, Inc | 254,182 | ||||||||
| 505,000 | Ardentec Corp | 613 | ||||||||
| 2,378,925 | ASE Technology Holding Co Ltd | 6,127 | ||||||||
| 56,022 | ASM International NV | 13,939 | ||||||||
| 1,787,800 | ASM Pacific Technology | 15,216 | ||||||||
| 29,231 | ASMedia Technology, Inc | 1,101 | ||||||||
| 23,589 | ASML Holding NV | 11,226 | ||||||||
| 842,668 | ASML Holding NV | 398,108 | ||||||||
| 57,200 | ASPEED Technology, Inc | 3,672 | ||||||||
| 3,757 | *,e | Atomera, Inc | 35 | |||||||
| 27,742 | * | Axcelis Technologies, Inc | 1,521 | |||||||
| 154 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 36,603 | * | AXT, Inc | $ | 215 | ||||||
| 118,952 | BE Semiconductor Industries NV | 5,684 | ||||||||
| 346,000 | BOE Varitronix Ltd | 698 | ||||||||
| 57,208 | * | Borosil Renewables Ltd | 440 | |||||||
| 1,145,305 | Broadcom, Inc | 556,401 | ||||||||
| 34,126 | * | Camtek Ltd | 831 | |||||||
| 3,721 | * | Ceva, Inc | 125 | |||||||
| 369,000 | Chang Wah Technology Co Ltd | 938 | ||||||||
| 11,538 | *,† | China Energy Savings Technology, Inc | 0 | ^ | ||||||
| 75,769 | China Resources Microelectronics Ltd | 671 | ||||||||
| 742,000 | Chipbond Technology Corp | 1,485 | ||||||||
| 646,000 | ChipMOS Technologies, Inc | 805 | ||||||||
| 51,237 | * | Cirrus Logic, Inc | 3,717 | |||||||
| 5,233 | CMC Materials, Inc | 913 | ||||||||
| 56,493 | * | Cohu, Inc | 1,568 | |||||||
| 4,028 | *,e | Credo Technology Group Holding Ltd | 47 | |||||||
| 1,098 | * | CyberOptics Corp | 38 | |||||||
| 557,500 | D&O Green Technologies Bhd | 489 | ||||||||
| 67,000 | * | Daqo New Energy Corp (ADR) | 4,782 | |||||||
| 24,107 | * | Diodes, Inc | 1,557 | |||||||
| 30,480 | Disco Corp | 7,253 | ||||||||
| 43,789 | Dongbu HiTek Co Ltd | 1,696 | ||||||||
| 11,556 | * | Duk San Neolux Co Ltd | 268 | |||||||
| 312,000 | Elan Microelectronics Corp | 1,466 | ||||||||
| 282,000 | Elite Semiconductor Memory Technology, Inc | 844 | ||||||||
| 15,133 | Elmos Semiconductor AG. | 581 | ||||||||
| 72,000 | eMemory Technology, Inc | 2,526 | ||||||||
| 870,000 | ENNOSTAR, Inc | 1,487 | ||||||||
| 142,083 | * | Enphase Energy, Inc | 27,740 | |||||||
| 132,478 | Entegris, Inc | 12,205 | ||||||||
| 9,636 | Eo Technics Co Ltd | 601 | ||||||||
| 291,595 | * | Episil Holdings, Inc | 1,107 | |||||||
| 127,860 | Episil-Precision, Inc | 361 | ||||||||
| 279,000 | * | Etron Technology, Inc | 523 | |||||||
| 19,719 | Eugene Technology Co Ltd | 448 | ||||||||
| 527,000 | Everlight Electronics Co Ltd | 732 | ||||||||
| 661,000 | Faraday Technology Corp | 4,255 | ||||||||
| 49,933 | Ferrotec | 956 | ||||||||
| 15,306 | Fine Semitech Corp | 173 | ||||||||
| 93,842 | * | First Solar, Inc | 6,393 | |||||||
| 141,000 | * | Fitipower Integrated Technology, Inc | 641 | |||||||
| 508,000 | *,e | Flat Glass Group Co Ltd | 1,788 | |||||||
| 97,500 | * | Flat Glass Group Co Ltd | 556 | |||||||
| 77,251 | * | Formfactor, Inc | 2,992 | |||||||
| 228,000 | Formosa Advanced Technologies Co Ltd | 304 | ||||||||
| 93,200 | Formosa Sumco Technology Corp | 556 | ||||||||
| 78,000 | Foxsemicon Integrated Technology, Inc | 469 | ||||||||
| 14,263,000 | *,e | GCL Poly Energy Holdings Ltd | 6,915 | |||||||
| 337,706 | * | GCL System Integration Technology Co Ltd | 188 | |||||||
| 38,019 | * | GemVax & Kael Co Ltd | 385 | |||||||
| 93,000 | Genesys Logic, Inc | 468 | ||||||||
| 46,306 | Gigadevice Semiconductor Beijing, Inc | 989 | ||||||||
| 155 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 75,000 | Global Mixed Mode Technology, Inc | $ | 384 | |||||||
| 257,000 | Global Unichip Corp | 4,168 | ||||||||
| 48,462 | * | GLOBALFOUNDRIES, Inc | 1,955 | |||||||
| 255,988 | Globalwafers Co Ltd | 3,911 | ||||||||
| 411,800 | * | Greatech Technology Bhd | 344 | |||||||
| 389,000 | Greatek Electronics, Inc | 818 | ||||||||
| 63,000 | Gudeng Precision Industrial Co Ltd | 457 | ||||||||
| 12,660 | HAESUNG DS Co Ltd | 607 | ||||||||
| 52,662 | Hana Materials, Inc | 1,951 | ||||||||
| 41,134 | Hana Micron, Inc | 413 | ||||||||
| 80,300 | Hangzhou First Applied Material Co Ltd | 789 | ||||||||
| 42,800 | Hangzhou Lion Electronics Co Ltd | 433 | ||||||||
| 91,944 | * | Hangzhou Silan Microelectronics Co Ltd | 717 | |||||||
| 44,168 | Hanmi Semiconductor Co Ltd | 430 | ||||||||
| 216,000 | Holtek Semiconductor, Inc | 624 | ||||||||
| 441,531 | *,g | Hua Hong Semiconductor Ltd | 1,603 | |||||||
| 890,445 | Hynix Semiconductor, Inc | 62,878 | ||||||||
| 23,322 | * | Ichor Holdings Ltd | 606 | |||||||
| 46,863 | * | Impinj, Inc | 2,749 | |||||||
| 3,142,500 | Inari Amertron BHD | 1,889 | ||||||||
| 18,129 | * | indie Semiconductor, Inc | 103 | |||||||
| 1,969,818 | Infineon Technologies AG. | 47,917 | ||||||||
| 34,056 | Ingenic Semiconductor Co Ltd | 543 | ||||||||
| 15,682 | Innox Advanced Materials Co Ltd | 402 | ||||||||
| 2,688,568 | Intel Corp | 100,579 | ||||||||
| 154,000 | ITE Technology, Inc | 413 | ||||||||
| 7,977 | ITM Semiconductor Co Ltd | 191 | ||||||||
| 152,184 | JA Solar Technology Co Ltd | 1,798 | ||||||||
| 79,513 | Japan Material Co Ltd | 1,138 | ||||||||
| 81,000 | Jentech Precision Industrial Co Ltd | 913 | ||||||||
| 47,200 | *,e | JinkoSolar Holding Co Ltd (ADR) | 3,265 | |||||||
| 44,918 | Jusung Engineering Co Ltd | 589 | ||||||||
| 2,279,000 | King Yuan Electronics Co Ltd | 3,071 | ||||||||
| 349,000 | Kinsus Interconnect Technology Corp | 1,681 | ||||||||
| 303,443 | e | KLA Corp | 96,823 | |||||||
| 92,127 | Koh Young Technology, Inc | 1,006 | ||||||||
| 7,175 | KoMiCo Ltd | 261 | ||||||||
| 41,854 | Kulicke & Soffa Industries, Inc | 1,792 | ||||||||
| 435,333 | Lam Research Corp | 185,517 | ||||||||
| 91,000 | Land Mark Optoelectronics Corp | 356 | ||||||||
| 80,648 | Lasertec Corp | 9,605 | ||||||||
| 366,870 | * | Lattice Semiconductor Corp | 17,793 | |||||||
| 31,368 | LB Semicon, Inc | 203 | ||||||||
| 12,282 | LEENO Industrial Inc | 1,232 | ||||||||
| 504,468 | LONGi Green Energy Technology Co Ltd | 5,046 | ||||||||
| 254,083 | * | MACOM Technology Solutions Holdings, Inc | 11,713 | |||||||
| 2,217,000 | Macronix International | 2,650 | ||||||||
| 164,400 | Malaysian Pacific Industries BHD | 1,049 | ||||||||
| 86,000 | Marketech International Corp | 322 | ||||||||
| 2,025,524 | Marvell Technology, Inc | 88,171 | ||||||||
| 26,531 | *,e | Maxeon Solar Technologies Ltd | 353 | |||||||
| 116,781 | * | MaxLinear, Inc | 3,968 | |||||||
| 156 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 3,357,065 | MediaTek, Inc | $ | 73,692 | |||||||
| 16,489 | * | Megachips Corp | 385 | |||||||
| 32,760 | Melexis NV | 2,356 | ||||||||
| 2,890,645 | *,e | Meyer Burger Technology AG. | 1,228 | |||||||
| 414,900 | Mi Technovation Bhd | 146 | ||||||||
| 325,583 | Microchip Technology, Inc | 18,910 | ||||||||
| 1,504,040 | Micron Technology, Inc | 83,143 | ||||||||
| 33,000 | Micronics Japan Co Ltd | 303 | ||||||||
| 56,691 | Mimasu Semiconductor Industry Co Ltd | 883 | ||||||||
| 23,006 | Mitsui High-Tec, Inc | 1,434 | ||||||||
| 29,444 | MKS Instruments, Inc | 3,022 | ||||||||
| 204,992 | Monolithic Power Systems, Inc | 78,725 | ||||||||
| 73,603 | * | Montage Technology Co Ltd | 667 | |||||||
| 9,668 | * | Nanometrics, Inc | 674 | |||||||
| 947,075 | Nanya Technology Corp | 1,576 | ||||||||
| 142,810 | * | National Silicon Industry Group Co Ltd | 492 | |||||||
| 36,014 | NAURA Technology Group Co Ltd | 1,497 | ||||||||
| 11,297 | * | NeoPhotonics Corp Ltd | 178 | |||||||
| 18,308 | * | NEPES Corp | 276 | |||||||
| 5,995 | NEXTIN, Inc | 257 | ||||||||
| 191,138 | * | Nordic Semiconductor ASA | 3,018 | |||||||
| 33,986 | * | Nova Measuring Instruments Ltd | 2,978 | |||||||
| 407,758 | Novatek Microelectronics Corp Ltd | 4,149 | ||||||||
| 218,000 | Nuvoton Technology Corp | 999 | ||||||||
| 3,919,959 | n | NVIDIA Corp | 594,227 | |||||||
| 229,481 | NXP Semiconductors NV | 33,970 | ||||||||
| 301,302 | * | ON Semiconductor Corp | 15,159 | |||||||
| 377,000 | * | Opto Technology Corp | 542 | |||||||
| 35,552 | Optorun Co Ltd | 472 | ||||||||
| 223,000 | Orise Technology Co Ltd | 677 | ||||||||
| 373,000 | Pan Jit International, Inc | 792 | ||||||||
| 113,000 | Parade Technologies Ltd | 4,399 | ||||||||
| 5,631 | * | PDF Solutions, Inc | 121 | |||||||
| 188,000 | Phison Electronics Corp | 1,724 | ||||||||
| 530,481 | * | Photronics, Inc | 10,334 | |||||||
| 149,000 | Pixart Imaging, Inc | 487 | ||||||||
| 10,162 | Power Integrations, Inc | 762 | ||||||||
| 2,992,000 | Powerchip Semiconductor Manufacturing Corp | 4,052 | ||||||||
| 849,000 | Powertech Technology, Inc | 2,509 | ||||||||
| 11,488 | PSK, Inc | 331 | ||||||||
| 50,485 | * | PVA TePla AG. | 972 | |||||||
| 57,236 | * | Qorvo, Inc | 5,399 | |||||||
| 819,000 | QUALCOMM, Inc | 104,619 | ||||||||
| 524,000 | Radiant Opto-Electronics Corp | 1,530 | ||||||||
| 31,301 | * | Rambus, Inc | 673 | |||||||
| 65,000 | * | Raydium Semiconductor Corp | 761 | |||||||
| 63,000 | * | RDC Semiconductor Co Ltd | 702 | |||||||
| 384,261 | Realtek Semiconductor Corp | 4,700 | ||||||||
| 320,397 | *,e | REC Silicon ASA | 503 | |||||||
| 2,006,915 | * | Renesas Electronics Corp | 18,161 | |||||||
| 18,556 | RFHIC Corp | 308 | ||||||||
| 91,000 | RichWave Technology Corp | 485 | ||||||||
| 157 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 26,091 | *,e | Rigetti Computing, Inc | $ | 96 | ||||||
| 15,666 | *,e | Rockley Photonics Holdings Ltd | 34 | |||||||
| 82,741 | Rohm Co Ltd | 5,800 | ||||||||
| 12,507 | Rorze Corp | 785 | ||||||||
| 8,900 | RS Technologies Co Ltd | 416 | ||||||||
| 16,611 | S&S Tech Corp | 254 | ||||||||
| 27,113 | Sanken Electric Co Ltd | 944 | ||||||||
| 44,569 | e | SCREEN Holdings Co Ltd | 3,024 | |||||||
| 156,000 | SDI Corp | 687 | ||||||||
| 185,104 | * | Semtech Corp | 10,175 | |||||||
| 41,237 | Seoul Semiconductor Co Ltd | 335 | ||||||||
| 22,434 | SG Micro Corp | 612 | ||||||||
| 21,721 | Shenzhen SC New Energy Technology Corp | 291 | ||||||||
| 78,800 | Shinko Electric Industries | 2,035 | ||||||||
| 473,000 | Sigurd Microelectronics Corp | 828 | ||||||||
| 176,578 | Silergy Corp | 14,278 | ||||||||
| 94,015 | * | Silicon Laboratories, Inc | 13,183 | |||||||
| 13,814 | Silicon Works Co Ltd | 1,025 | ||||||||
| 17,039 | Siltronic AG. | 1,275 | ||||||||
| 25,512 | SIMMTECH Co Ltd | 731 | ||||||||
| 580,000 | Sino-American Silicon Products, Inc | 2,765 | ||||||||
| 10,646 | * | SiTime Corp | 1,736 | |||||||
| 138,000 | Sitronix Technology Corp | 932 | ||||||||
| 112,198 | * | SK Square Co Ltd | 3,390 | |||||||
| 2,425 | *,e | SkyWater Technology, Inc | 15 | |||||||
| 84,327 | Skyworks Solutions, Inc | 7,812 | ||||||||
| 11,553 | e | SMA Solar Technology AG. | 471 | |||||||
| 151,273 | * | SMART Global Holdings, Inc | 2,476 | |||||||
| 30,625 | * | SOITEC | 4,399 | |||||||
| 769 | * | SolarEdge Technologies, Inc | 210 | |||||||
| 156,000 | Sonix Technology Co Ltd | 352 | ||||||||
| 11,500 | StarPower Semiconductor Ltd | 665 | ||||||||
| 1,014,191 | e | STMicroelectronics NV | 32,074 | |||||||
| 78,789 | * | STS Semiconductor & Telecommunications | 307 | |||||||
| 224,283 | Sumco Corp | 2,917 | ||||||||
| 523,000 | Sunplus Technology Co Ltd | 544 | ||||||||
| 99,520 | *,e | SunPower Corp | 1,573 | |||||||
| 33,668 | * | Synaptics, Inc | 3,975 | |||||||
| 231,000 | Taiwan Mask Corp | 568 | ||||||||
| 254,000 | Taiwan Semiconductor Co Ltd | 613 | ||||||||
| 45,692,458 | Taiwan Semiconductor Manufacturing Co Ltd | 732,283 | ||||||||
| 825,704 | Taiwan Semiconductor Manufacturing Co Ltd (ADR) | 67,501 | ||||||||
| 300,000 | Taiwan Surface Mounting Technology Co Ltd | 915 | ||||||||
| 143,361 | * | Technoprobe S.p.A | 1,012 | |||||||
| 98,521 | Teradyne, Inc | 8,823 | ||||||||
| 41,877 | TES Co Ltd | 640 | ||||||||
| 16,005 | Tesna Co Ltd | 376 | ||||||||
| 796,749 | Texas Instruments, Inc | 122,420 | ||||||||
| 226,525 | Tianjin Zhonghuan Semiconductor Co Ltd | 1,996 | ||||||||
| 230,061 | Tianshui Huatian Technology Co Ltd | 323 | ||||||||
| 22,180 | Tokai Carbon Korea Co Ltd | 1,931 | ||||||||
| 140,505 | Tokyo Electron Ltd | 45,860 | ||||||||
| 158 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 66,300 | Tokyo Seimitsu Co Ltd | $ | 2,185 | |||||||
| 124,948 | TongFu Microelectronics Co Ltd | 288 | ||||||||
| 368,000 | Topco Scientific Co Ltd | 1,712 | ||||||||
| 51,447 | * | Tower Semiconductor Ltd | 2,376 | |||||||
| 114,230 | * | Tower Semiconductor Ltd (Tel Aviv) | 5,328 | |||||||
| 3,289 | *,e | Transphorm, Inc | 13 | |||||||
| 28,100 | Tri Chemical Laboratories, Inc | 454 | ||||||||
| 145,237 | Trina Solar Co Ltd | 1,422 | ||||||||
| 1,746,000 | *,† | Trony Solar Holdings Co Ltd. | 2 | |||||||
| 4,441 | TSE Co Ltd | 209 | ||||||||
| 481,000 | * | TSEC Corp | 526 | |||||||
| 7,614 | U-Blox AG. | 773 | ||||||||
| 269,303 | * | Ultra Clean Holdings | 8,017 | |||||||
| 54,944 | Ulvac, Inc | 1,871 | ||||||||
| 39,406 | * | Unigroup Guoxin Microelectronics Co Ltd | 1,119 | |||||||
| 548,300 | Unisem M BHD | 287 | ||||||||
| 8,448,071 | United Microelectronics Corp | 11,292 | ||||||||
| 3,071,344 | * | United Renewable Energy Co Ltd/Taiwan | 2,334 | |||||||
| 18,538 | * | UniTest, Inc | 252 | |||||||
| 26,421 | Universal Display Corp | 2,672 | ||||||||
| 49,000 | * | UPI Semiconductor Corp | 744 | |||||||
| 648,744 | Vanguard International Semiconductor Corp | 1,688 | ||||||||
| 113,000 | * | Veeco Instruments, Inc | 2,192 | |||||||
| 222,000 | Via Technologies, Inc | 357 | ||||||||
| 165,000 | Visual Photonics Epitaxy Co Ltd | 400 | ||||||||
| 545,200 | ViTrox Corp BHD | 893 | ||||||||
| 618,000 | Wafer Works Corp | 1,005 | ||||||||
| 56,211 | * | Will Semiconductor Ltd | 1,459 | |||||||
| 233,000 | Win Semiconductors Corp | 1,513 | ||||||||
| 2,054,389 | Winbond Electronics Corp | 1,503 | ||||||||
| 595,295 | *,n | Wolfspeed Inc | 37,771 | |||||||
| 35,128 | WONIK IPS Co Ltd | 811 | ||||||||
| 17,501 | Wonik QnC Corp | 374 | ||||||||
| 62,425 | *,g | X-Fab Silicon Foundries SE | 409 | |||||||
| 3,466 | *,g | X-Fab Silicon Foundries SE | 23 | |||||||
| 192,000 | XinTec, Inc | 836 | ||||||||
| 3,489,214 | Xinyi Solar Holdings Ltd | 5,407 | ||||||||
| 33,000 | Yangzhou Yangjie Electronic Technology Co Ltd | 353 | ||||||||
| 85,806 | Zhejiang Jingsheng Mechanical & Electrical Co Ltd | 870 | ||||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 4,790,790 | |||||||||
| SOFTWARE & SERVICES - 10.6% | ||||||||||
| 120,000 | * | 21Vianet Group, Inc (ADR) | 725 | |||||||
| 291,287 | 360 Security Technology, Inc | 372 | ||||||||
| 89,694 | * | 8x8, Inc | 462 | |||||||
| 40,000 | * | 91APP, Inc | 183 | |||||||
| 141,516 | A10 Networks, Inc | 2,035 | ||||||||
| 56,668 | e | Absolute Software Corp | 489 | |||||||
| 1,337,626 | Accenture plc | 371,392 | ||||||||
| 398,439 | * | ACI Worldwide, Inc | 10,316 | |||||||
| 3,640 | Adesso SE | 560 | ||||||||
| 393,353 | * | Adobe, Inc | 143,991 | |||||||
| 159 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 49,806 | *,g | Adyen NV | $ | 71,877 | ||||||
| 16,514 | *,e | Affirm Holdings, Inc | 298 | |||||||
| 3,019 | * | Agilysys, Inc | 143 | |||||||
| 78,000 | * | Agora, Inc (ADR) | 512 | |||||||
| 6,818 | Ahnlab, Inc | 452 | ||||||||
| 112,775 | * | Akamai Technologies, Inc | 10,300 | |||||||
| 17,264 | Al Moammar Information Systems Co | 374 | ||||||||
| 7,936 | * | Alarm.com Holdings, Inc | 491 | |||||||
| 33,771 | *,e | Alkami Technology, Inc | 469 | |||||||
| 8,100 | Alpha Systems, Inc | 256 | ||||||||
| 20,700 | * | Altair Engineering, Inc | 1,087 | |||||||
| 34,230 | Alten | 3,750 | ||||||||
| 58,859 | * | Alteryx, Inc | 2,850 | |||||||
| 141,198 | Altium Ltd | 2,632 | ||||||||
| 641,422 | * | Amadeus IT Holding S.A. | 35,916 | |||||||
| 177,685 | Amdocs Ltd | 14,803 | ||||||||
| 18,808 | American Software, Inc (Class A) | 304 | ||||||||
| 10,165 | * | Amplitude, Inc | 145 | |||||||
| 12,618 | * | Ansys, Inc | 3,019 | |||||||
| 126,227 | Appen Ltd | 490 | ||||||||
| 3,380 | * | Appfolio, Inc | 306 | |||||||
| 7,119 | *,e | Appian Corp | 337 | |||||||
| 63,800 | * | Appier Group, Inc | 407 | |||||||
| 41,807 | *,e | AppLovin Corp | 1,440 | |||||||
| 560,058 | * | Argo Blockchain plc | 225 | |||||||
| 19,000 | Argo Graphics, Inc | 450 | ||||||||
| 2,602 | * | Arteris, Inc | 18 | |||||||
| 161,983 | *,e | Asana, Inc | 2,848 | |||||||
| 258,800 | g | AsiaInfo Technologies Ltd | 448 | |||||||
| 27,547 | * | Aspen Technology, Inc | 5,060 | |||||||
| 107,467 | Asseco Poland S.A. | 1,814 | ||||||||
| 101,558 | Atea ASA | 1,059 | ||||||||
| 183,132 | * | Atlassian Corp plc | 34,319 | |||||||
| 115,261 | Atos Origin S.A. | 1,563 | ||||||||
| 4,440 | Atoss Software AG. | 565 | ||||||||
| 8,244 | Aubay | 419 | ||||||||
| 70,665 | * | Autodesk, Inc | 12,152 | |||||||
| 636,507 | Automatic Data Processing, Inc | 133,692 | ||||||||
| 110,727 | * | Avalara, Inc | 7,817 | |||||||
| 785,160 | g | Avast plc | 4,941 | |||||||
| 69,907 | * | Avaya Holdings Corp | 157 | |||||||
| 23,348 | *,e | AvePoint, Inc | 101 | |||||||
| 125,369 | Aveva Group plc | 3,442 | ||||||||
| 591,436 | * | AvidXchange Holdings, Inc | 3,631 | |||||||
| 1,601,400 | *,e | BASE, Inc | 3,870 | |||||||
| 13,460 | * | BasWare Oyj | 563 | |||||||
| 384,343 | Bechtle AG. | 15,787 | ||||||||
| 31,313 | Beijing Kingsoft Office Software, Inc | 924 | ||||||||
| 74,956 | Beijing Shiji Information Technology Co Ltd | 178 | ||||||||
| 116,118 | Beijing Sinnet Technology Co Ltd | 181 | ||||||||
| 38,400 | Bell System24 Holdings, Inc | 393 | ||||||||
| 13,962 | * | Benefitfocus, Inc | 109 | |||||||
| 160 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 140,580 | Bentley Systems, Inc | $ | 4,681 | |||||||
| 10,047 | * | BigCommerce Holdings, Inc | 163 | |||||||
| 83,352 | * | Bill.Com Holdings, Inc | 9,164 | |||||||
| 192,578 | Birlasoft Ltd | 866 | ||||||||
| 210,862 | * | Black Knight, Inc | 13,788 | |||||||
| 10,007 | * | Blackbaud, Inc | 581 | |||||||
| 646,508 | *,e | Blackberry Ltd (New) | 3,486 | |||||||
| 57,939 | * | Blackline, Inc | 3,859 | |||||||
| 149,271 | * | Blend Labs, Inc | 352 | |||||||
| 38,116 | * | Block, Inc | 2,377 | |||||||
| 423,853 | * | Block, Inc | 26,050 | |||||||
| 327,834 | * | Box, Inc | 8,242 | |||||||
| 1,696,459 | *,e | BrainChip Holdings Ltd | 939 | |||||||
| 42,571 | Bread Financial Holdings, Inc | 1,578 | ||||||||
| 173,070 | * | Brightcove, Inc | 1,094 | |||||||
| 113,166 | Broadridge Financial Solutions, Inc | 16,132 | ||||||||
| 88,727 | * | BTRS Holdings, Inc | 442 | |||||||
| 72,081 | * | Bumble, Inc | 2,029 | |||||||
| 359,968 | Bytes Technology Group plc | 1,832 | ||||||||
| 48,739 | *,e | C3.ai, Inc | 890 | |||||||
| 159,278 | * | Cadence Design Systems, Inc | 23,896 | |||||||
| 16,208 | * | Cafe24 Corp | 155 | |||||||
| 95,453 | Cancom SE | 3,225 | ||||||||
| 25,640 | * | Cantaloupe, Inc | 144 | |||||||
| 686,441 | Cap Gemini S.A. | 118,384 | ||||||||
| 2,035,176 | * | Capita Group plc | 632 | |||||||
| 84,445 | * | carsales.com Ltd | 1,073 | |||||||
| 9,919 | Cass Information Systems, Inc | 335 | ||||||||
| 12,283 | cBrain A.S. | 294 | ||||||||
| 23,263 | * | CCC Intelligent Solutions Holdings, Inc | 214 | |||||||
| 115,938 | CDK Global, Inc | 6,350 | ||||||||
| 12,165 | CE Info Systems Ltd | 218 | ||||||||
| 47,414 | *,e | Cellebrite DI Ltd | 242 | |||||||
| 6,991 | *,e | Cerberus Cyber Sentinel Corp | 25 | |||||||
| 32,761 | *,e | Cerence Inc | 827 | |||||||
| 124,049 | * | Ceridian HCM Holding, Inc | 5,840 | |||||||
| 260,575 | * | CGI, Inc | 20,758 | |||||||
| 41,900 | e | Change, Inc | 666 | |||||||
| 24,347 | * | ChannelAdvisor Corp | 355 | |||||||
| 400,000 | *,e | Chatwork Co Ltd | 979 | |||||||
| 133,193 | * | Check Point Software Technologies | 16,220 | |||||||
| 17,960,000 | *,e | China Youzan Ltd | 549 | |||||||
| 3,230,000 | Chinasoft International Ltd | 3,315 | ||||||||
| 148,500 | *,e | Chindata Group Holdings Ltd (ADR) | 1,152 | |||||||
| 1,457,000 | Cielo S.A. | 1,044 | ||||||||
| 177,230 | * | Cint Group AB | 993 | |||||||
| 30,079 | * | Cipher Mining, Inc | 41 | |||||||
| 116,807 | Citrix Systems, Inc | 11,350 | ||||||||
| 29,790 | *,e | Cleanspark, Inc | 117 | |||||||
| 40,398 | *,e | Clear Secure, Inc | 808 | |||||||
| 267,981 | * | Cloudflare, Inc | 11,724 | |||||||
| 14,146 | *,e | CM.com NV | 199 | |||||||
| 161 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 32,206 | Coforge Ltd | $ | 1,449 | |||||||
| 370,143 | Cognizant Technology Solutions Corp (Class A) | 24,981 | ||||||||
| 78,481 | * | Cognyte Software Ltd | 334 | |||||||
| 253,489 | * | Commvault Systems, Inc | 15,944 | |||||||
| 117,771 | Computacenter plc | 3,373 | ||||||||
| 48,149 | Computer Age Management Services Ltd | 1,382 | ||||||||
| 479,885 | Computershare Ltd | 8,184 | ||||||||
| 27,488 | Comture Corp | 538 | ||||||||
| 32,178 | Concentrix Corp | 4,365 | ||||||||
| 809,215 | * | Conduent, Inc | 3,496 | |||||||
| 23,103 | *,e | Confluent, Inc | 537 | |||||||
| 8,329 | *,e | Consensus Cloud Solutions, Inc | 364 | |||||||
| 23,990 | Constellation Software, Inc | 35,614 | ||||||||
| 235,481 | * | Converge Technology Solutions Corp | 938 | |||||||
| 164,126 | * | Core Scientific, Inc | 245 | |||||||
| 5,191 | * | Couchbase, Inc | 85 | |||||||
| 70,613 | * | Coupa Software, Inc | 4,032 | |||||||
| 138,775 | *,g | Crayon Group Holding ASA | 1,779 | |||||||
| 311,630 | * | Crowdstrike Holdings, Inc | 52,528 | |||||||
| 4,422 | *,e | CS Disco, Inc | 80 | |||||||
| 5,575 | CSG Systems International, Inc | 333 | ||||||||
| 67,627 | *,e | Cvent Holding Corp | 312 | |||||||
| 108,668 | * | CyberArk Software Ltd | 13,905 | |||||||
| 32,200 | e | Cybozu, Inc | 224 | |||||||
| 92,694 | Cyient Ltd | 892 | ||||||||
| 7,757 | *,e | Cyxtera Technologies, Inc | 88 | |||||||
| 2,716,300 | Dagang NeXchange Bhd | 488 | ||||||||
| 63,118 | * | Danal Co Ltd | 343 | |||||||
| 2,164,938 | * | Darktrace plc | 7,770 | |||||||
| 800,387 | Dassault Systemes SE | 29,647 | ||||||||
| 179,012 | Data#3 Ltd | 576 | ||||||||
| 249,789 | * | Datadog, Inc | 23,790 | |||||||
| 4,713 | Datagroup SE | 340 | ||||||||
| 352,126 | * | Descartes Systems Group, Inc | 21,882 | |||||||
| 88,577 | DHC Software Co Ltd | 84 | ||||||||
| 2,431 | *,e | Digimarc Corp | 34 | |||||||
| 58,300 | Digital Arts, Inc | 2,531 | ||||||||
| 1,817,000 | Digital China Holdings Ltd | 904 | ||||||||
| 40,213 | Digital Garage, Inc | 1,090 | ||||||||
| 3,122,600 | * | Digital Mediatama Maxima Tbk PT | 314 | |||||||
| 191,367 | * | Digital Turbine, Inc | 3,343 | |||||||
| 4,119 | * | Digital Value S.p.A | 251 | |||||||
| 122,539 | *,e | DigitalOcean Holdings, Inc | 5,068 | |||||||
| 151,300 | Ditto Thailand PCL | 234 | ||||||||
| 20,734 | * | Docebo, Inc | 595 | |||||||
| 236,338 | * | DocuSign, Inc | 13,561 | |||||||
| 32,228 | Dolby Laboratories, Inc (Class A) | 2,306 | ||||||||
| 193,663 | * | Domo, Inc | 5,384 | |||||||
| 9,214 | * | DoubleVerify Holdings, Inc | 209 | |||||||
| 449,006 | * | Dropbox, Inc | 9,425 | |||||||
| 42,600 | DTS Corp | 949 | ||||||||
| 102,263 | * | Duck Creek Technologies, Inc | 1,519 | |||||||
| 162 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 23,840 | DuzonBIzon Co Ltd | $ | 673 | |||||||
| 224,320 | * | DXC Technology Co | 6,799 | |||||||
| 361,697 | e | Dye & Durham Ltd | 6,112 | |||||||
| 382,551 | * | Dynatrace, Inc | 15,088 | |||||||
| 168,305 | *,e | E2open Parent Holdings, Inc | 1,309 | |||||||
| 18,726 | Ebix, Inc | 316 | ||||||||
| 16,814 | eClerx Services Ltd | 411 | ||||||||
| 114,323 | e | Econocom Group S.A. | 400 | |||||||
| 260,997 | Edenred | 12,364 | ||||||||
| 514,273 | E-Finance for Digital & Financial Investments | 369 | ||||||||
| 12,066 | * | eGain Corp | 118 | |||||||
| 141,266 | * | Elastic NV | 9,559 | |||||||
| 25,138 | Elm Co | 1,706 | ||||||||
| 381,916 | *,e | EML Payments Ltd | 325 | |||||||
| 4,596 | * | Enfusion, Inc | 47 | |||||||
| 148,452 | * | EngageSmart, Inc | 2,387 | |||||||
| 50,929 | Enghouse Systems Ltd | 1,125 | ||||||||
| 16,891 | * | Envestnet, Inc | 891 | |||||||
| 177,549 | * | EPAM Systems, Inc | 52,338 | |||||||
| 6,380 | Esker S.A. | 853 | ||||||||
| 48,052 | * | Euronet Worldwide, Inc | 4,834 | |||||||
| 7,465 | * | Everbridge, Inc | 208 | |||||||
| 17,369 | * | EverCommerce, Inc | 157 | |||||||
| 99,203 | EVERTEC, Inc | 3,659 | ||||||||
| 7,252 | * | Evo Payments, Inc | 171 | |||||||
| 200,000 | * | Exasol AG. | 787 | |||||||
| 77,806 | * | ExlService Holdings, Inc | 11,463 | |||||||
| 25,145 | * | Fair Isaac Corp | 10,081 | |||||||
| 93,465 | *,e | Fastly, Inc | 1,085 | |||||||
| 2,188,327 | * | Fawry for Banking & Payment Technology Services SAE | 413 | |||||||
| 1,539,291 | Fidelity National Information Services, Inc | 141,107 | ||||||||
| 108,403 | *,†,g | Finablr plc | 1 | |||||||
| 205,604 | * | FireEye, Inc | 4,486 | |||||||
| 27,009 | * | First Derivatives plc | 645 | |||||||
| 371,924 | Firstsource Solutions Ltd | 487 | ||||||||
| 1,214,759 | * | Fiserv, Inc | 108,077 | |||||||
| 236,935 | * | Five9, Inc | 21,594 | |||||||
| 80,475 | * | FleetCor Technologies, Inc | 16,909 | |||||||
| 222,471 | * | Flywire Corp | 3,922 | |||||||
| 4,352 | *,e | ForgeRock, Inc | 93 | |||||||
| 14,019 | Formula Systems 1985 Ltd | 1,272 | ||||||||
| 529,622 | * | Fortinet, Inc | 29,966 | |||||||
| 844,005 | Fortnox AB | 3,899 | ||||||||
| 89,300 | *,e | Freee KK | 2,193 | |||||||
| 120,433 | F-Secure Oyj | 631 | ||||||||
| 28,884 | FUJI SOFT, Inc | 1,659 | ||||||||
| 182,069 | Fujitsu Ltd | 22,782 | ||||||||
| 11,827 | Fukui Computer Holdings, Inc | 298 | ||||||||
| 52,500 | e | Future Architect, Inc | 542 | |||||||
| 157,363 | * | Gartner, Inc | 38,055 | |||||||
| 532,844 | GB Group plc | 2,598 | ||||||||
| 1,693,324 | * | GDS Holdings Ltd | 7,121 | |||||||
| 163 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 405,595 | * | GDS Holdings Ltd (ADR) | $ | 13,543 | ||||||
| 294,304 | Genpact Ltd | 12,467 | ||||||||
| 19,404 | GFT Technologies AG. | 772 | ||||||||
| 113,059 | g | Global Dominion Access S.A. | 492 | |||||||
| 311,684 | Global Payments, Inc | 34,485 | ||||||||
| 60,074 | * | Globant S.A. | 10,453 | |||||||
| 1,800 | e | GMO Financial Gate, Inc | 165 | |||||||
| 5,000 | GMO GlobalSign Holdings KK | 182 | ||||||||
| 79,870 | * | GMO internet, Inc | 1,382 | |||||||
| 129,977 | GMO Payment Gateway, Inc | 9,258 | ||||||||
| 147,353 | * | GoDaddy, Inc | 10,250 | |||||||
| 1,880 | *,e | Greenidge Generation Holdings, Inc | 5 | |||||||
| 539,000 | * | Grid Dynamics Holdings, Inc | 9,066 | |||||||
| 35,081 | * | GTY Technology Holdings Inc | 220 | |||||||
| 7,700 | * | Guidewire Software, Inc | 547 | |||||||
| 44,149 | Hackett Group, Inc | 837 | ||||||||
| 195,148 | Hansen Technologies Ltd | 701 | ||||||||
| 71,662 | Happiest Minds Technologies Ltd | 757 | ||||||||
| 779,237 | HCL Technologies Ltd | 9,648 | ||||||||
| 17,411 | Hilan Ltd | 921 | ||||||||
| 7,930 | * | HubSpot, Inc | 2,384 | |||||||
| 59,502 | Hundsun Technologies, Inc | 388 | ||||||||
| 187,541 | *,e | Hut 8 Mining Corp | 254 | |||||||
| 8,525 | Hyundai Autoever Corp | 742 | ||||||||
| 29,952 | * | I3 Verticals, Inc | 749 | |||||||
| 18,531 | * | IBEX Ltd | 313 | |||||||
| 316,307 | Ideagen plc | 1,344 | ||||||||
| 102,883 | Iflytek Co Ltd | 635 | ||||||||
| 368,851 | *,e | Indra Sistemas S.A. | 3,532 | |||||||
| 962,104 | Infibeam Incorporation Ltd | 173 | ||||||||
| 28,653 | Infocom Corp | 432 | ||||||||
| 3,463,100 | Infomart Corp | 9,671 | ||||||||
| 31,567 | *,e | Informatica, Inc | 656 | |||||||
| 52,624 | Information Services Group, Inc | 356 | ||||||||
| 30,048 | Information Services International-Dentsu Ltd | 896 | ||||||||
| 4,178,593 | Infosys Technologies Ltd | 77,665 | ||||||||
| 97,863 | * | Instructure Holdings, Inc | 2,221 | |||||||
| 91,977 | *,e | Intapp, Inc | 1,347 | |||||||
| 94,730 | * | Intellect Design Arena Ltd | 763 | |||||||
| 18,027 | InterDigital, Inc | 1,096 | ||||||||
| 1,025,065 | International Business Machines Corp | 144,729 | ||||||||
| 149,099 | *,e | International Money Express Inc | 3,052 | |||||||
| 612,010 | Intuit, Inc | 235,893 | ||||||||
| 205,700 | Iress Market Technology Ltd | 1,634 | ||||||||
| 9,986 | *,e | IronNet, Inc | 22 | |||||||
| 55,100 | Itochu Techno-Science Corp | 1,355 | ||||||||
| 97,757 | Jack Henry & Associates, Inc | 17,598 | ||||||||
| 387,492 | *,e | Jamf Holding Corp | 9,598 | |||||||
| 51,057 | Justsystems Corp | 1,453 | ||||||||
| 315,028 | Kainos Group plc | 4,277 | ||||||||
| 83,679 | * | Kaleyra, Inc | 171 | |||||||
| 15,686 | Kanematsu Electronics Ltd | 467 | ||||||||
| 164 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 319,300 | *,e | Kaonavi, Inc | $ | 4,715 | ||||||
| 180,282 | * | Kape Technologies plc | 724 | |||||||
| 466,106 | Keywords Studios plc | 12,452 | ||||||||
| 20,342 | Kginicis Co Ltd | 200 | ||||||||
| 235,192 | * | Kinaxis, Inc | 25,390 | |||||||
| 1,885,495 | * | Kingdee International Software Group Co Ltd | 4,442 | |||||||
| 125,700 | *,e | Kingsoft Cloud Holdings Ltd (ADR) | 559 | |||||||
| 29,691 | KNOW IT AB | 831 | ||||||||
| 107,152 | * | KnowBe4, Inc | 1,674 | |||||||
| 198,812 | KPIT Engineering Ltd | 1,313 | ||||||||
| 192,693 | * | Kyndryl Holdings, Inc | 1,885 | |||||||
| 57,320 | g | Larsen & Toubro Infotech Ltd | 2,900 | |||||||
| 57,692 | * | Latch, Inc | 66 | |||||||
| 4,238,158 | Learning Technologies Group plc | 5,789 | ||||||||
| 1,066,558 | * | Lightspeed Commerce, Inc | 23,780 | |||||||
| 12,220 | e | Lime Technologies AB | 269 | |||||||
| 36,129 | *,e | Limelight Networks, Inc | 83 | |||||||
| 584,789 | Link Administration Holdings Ltd | 1,531 | ||||||||
| 225,789 | *,e | LINK Mobility Group Holding ASA | 262 | |||||||
| 27,530 | LiveChat Software S.A. | 603 | ||||||||
| 51,961 | * | Liveperson, Inc | 735 | |||||||
| 55,365 | * | LiveRamp Holdings, Inc | 1,429 | |||||||
| 3,251 | *,e | LiveVox Holdings, Inc | 5 | |||||||
| 499,600 | *,g | Locaweb Servicos de Internet S.A. | 536 | |||||||
| 4,546 | Lotte Data Communication Co | 93 | ||||||||
| 534,400 | * | M Cash Integrasi PT | 463 | |||||||
| 42,795 | Magic Software Enterprises Ltd | 752 | ||||||||
| 11,682 | *,e | Magnet Forensics, Inc | 157 | |||||||
| 18,245 | Malam-Team Ltd | 392 | ||||||||
| 51,659 | * | Manhattan Associates, Inc | 5,920 | |||||||
| 153,046 | *,e | Marathon Digital Holdings, Inc | 817 | |||||||
| 79,060 | * | Marqeta, Inc | 641 | |||||||
| 16,050 | Mastek Ltd | 439 | ||||||||
| 2,650,870 | Mastercard, Inc (Class A) | 836,296 | ||||||||
| 41,004 | Matrix IT Ltd | 956 | ||||||||
| 324,661 | *,e | Matterport, Inc | 1,188 | |||||||
| 12,729 | MAXIMUS, Inc | 796 | ||||||||
| 245,284 | * | Megaport Ltd | 927 | |||||||
| 3,547 | * | MeridianLink, Inc | 59 | |||||||
| 391,502 | Micro Focus International plc | 1,332 | ||||||||
| 15,218,056 | e,n | Microsoft Corp | 3,908,453 | |||||||
| 4,152 | *,e | MicroStrategy, Inc (Class A) | 682 | |||||||
| 331,466 | MindTree Ltd | 12,179 | ||||||||
| 576,000 | e | Ming Yuan Cloud Group Holdings Ltd | 928 | |||||||
| 7,574 | * | Mitek Systems, Inc | 70 | |||||||
| 19,567 | Mitsubishi Research Institute, Inc | 595 | ||||||||
| 60,128 | * | Model N, Inc | 1,538 | |||||||
| 50,588 | * | Money Forward, Inc | 1,273 | |||||||
| 80,391 | * | MoneyGram International, Inc | 804 | |||||||
| 61,034 | * | MongoDB, Inc | 15,838 | |||||||
| 42,237 | Moshi Moshi Hotline, Inc | 332 | ||||||||
| 93,989 | Mphasis Ltd | 2,743 | ||||||||
| 165 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 6,312,700 | My EG Services BHD | $ | 1,262 | |||||||
| 18,812 | *,e | N-Able, Inc | 169 | |||||||
| 9,419 | * | Nagarro SE | 1,075 | |||||||
| 852,000 | *,†,e | National Agricultural Holdings Ltd | 1 | |||||||
| 30,167 | NavInfo Co Ltd | 68 | ||||||||
| 10,277 | * | Nazara Technologies Ltd | 88 | |||||||
| 374,309 | NCC Group plc | 853 | ||||||||
| 51,367 | *,e | nCino OpCo, Inc | 1,588 | |||||||
| 113,724 | * | NCR Corp | 3,538 | |||||||
| 4,005,500 | *,e | nearmap Ltd | 2,852 | |||||||
| 586,981 | NEC Corp | 22,902 | ||||||||
| 78,843 | NEC Networks & System Integration Corp | 1,068 | ||||||||
| 63,152 | Nemetschek AG. | 3,842 | ||||||||
| 93,906 | NET One Systems Co Ltd | 2,087 | ||||||||
| 105,840 | *,g | Netcompany Group A.S. | 5,831 | |||||||
| 587,796 | *,g | Network International Holdings plc | 1,351 | |||||||
| 9,101 | * | New Relic, Inc | 455 | |||||||
| 658,000 | *,e | Newborn Town, Inc | 242 | |||||||
| 74,041 | *,g | Nexi S.p.A | 615 | |||||||
| 5,470,681 | * | NEXTDC Ltd | 40,264 | |||||||
| 7,528 | * | NextNav, Inc | 17 | |||||||
| 25,980 | * | NHN KCP Corp | 251 | |||||||
| 73,508 | * | Nice Systems Ltd | 14,185 | |||||||
| 236,038 | Nihon Unisys Ltd | 4,707 | ||||||||
| 90,571 | NIIT Ltd | 477 | ||||||||
| 134,800 | Nippon System Development Co Ltd | 2,355 | ||||||||
| 1,631,579 | *,e | Nitro Software Ltd | 1,512 | |||||||
| 348,990 | Nomura Research Institute Ltd | 9,366 | ||||||||
| 6,192 | * | Northern Data AG. | 141 | |||||||
| 1,971,082 | NortonLifelock, Inc | 43,285 | ||||||||
| 36,092 | NS Solutions Corp | 964 | ||||||||
| 533,445 | NTT Data Corp | 7,400 | ||||||||
| 375,715 | * | Nutanix, Inc | 5,497 | |||||||
| 79,560 | * | Nuvei Corp | 2,875 | |||||||
| 115,481 | *,e,g | Nuvei Corp | 4,177 | |||||||
| 40,500 | OBIC Business Consultants Ltd | 1,397 | ||||||||
| 19,610 | Obic Co Ltd | 2,789 | ||||||||
| 26,485 | Objective Corp Ltd | 251 | ||||||||
| 110,319 | * | Okta, Inc | 9,973 | |||||||
| 75,106 | * | Olo, Inc | 741 | |||||||
| 34,171 | * | ON24, Inc | 324 | |||||||
| 44,159 | One Software Technologies Ltd | 700 | ||||||||
| 148,700 | * | OneConnect Financial Technology Co Ltd (ADR) | 254 | |||||||
| 24,196 | * | OneSpan, Inc | 288 | |||||||
| 323,068 | Open Text Corp (Toronto) | 12,220 | ||||||||
| 5,493,257 | Oracle Corp | 383,814 | ||||||||
| 21,542 | * | Oracle Corp Japan | 1,254 | |||||||
| 24,194 | Oracle Financial Services Software Ltd | 952 | ||||||||
| 21,160 | Otsuka Corp | 630 | ||||||||
| 41,180 | * | Pagerduty, Inc | 1,020 | |||||||
| 2,245,123 | * | Pagseguro Digital Ltd | 22,990 | |||||||
| 1,727,532 | * | Palantir Technologies, Inc | 15,669 | |||||||
| 166 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 401,926 | * | Palo Alto Networks, Inc | $ | 198,527 | ||||||
| 169,593 | * | Paya Holdings, Inc | 1,114 | |||||||
| 317,209 | Paychex, Inc | 36,121 | ||||||||
| 49,911 | * | Paycom Software, Inc | 13,981 | |||||||
| 42,129 | *,e | Paycor HCM, Inc | 1,095 | |||||||
| 61,942 | * | Paylocity Holding Corp | 10,804 | |||||||
| 39,388 | * | Payoneer Global, Inc | 154 | |||||||
| 1,538,052 | *,n | PayPal Holdings, Inc | 107,418 | |||||||
| 291,970 | *,e | Paysafe Ltd | 569 | |||||||
| 7,371 | Pegasystems, Inc | 353 | ||||||||
| 6,109 | * | Perficient, Inc | 560 | |||||||
| 67,423 | Persistent Systems Ltd | 2,917 | ||||||||
| 13,243 | * | PFSweb, Inc | 156 | |||||||
| 64,895 | * | Ping Identity Holding Corp | 1,177 | |||||||
| 19,200 | * | PKSHA Technology, Inc | 263 | |||||||
| 17,100 | *,e | Plaid, Inc | 54 | |||||||
| 13,700 | * | Plus Alpha Consulting Co Ltd | 216 | |||||||
| 58,655 | Posco ICT Co Ltd | 237 | ||||||||
| 5,382 | * | Priority Technology Holdings Inc | 18 | |||||||
| 58,862 | * | Procore Technologies, Inc | 2,672 | |||||||
| 124,722 | Progress Software Corp | 5,650 | ||||||||
| 15,752 | * | PROS Holdings, Inc | 413 | |||||||
| 21,147 | * | PTC, Inc | 2,249 | |||||||
| 1,258,685 | * | Pushpay Holdings Ltd | 994 | |||||||
| 51,003 | * | Q2 Holdings, Inc | 1,967 | |||||||
| 59,401 | †,e | QIWI plc (ADR) | 1 | |||||||
| 18,771 | *,e | QT Group Oyj | 1,393 | |||||||
| 543,401 | * | Qualtrics International, Inc | 6,798 | |||||||
| 41,159 | * | Qualys, Inc | 5,192 | |||||||
| 47,645 | *,e | Rackspace Technology, Inc | 342 | |||||||
| 104,100 | Rakus Co Ltd | 1,243 | ||||||||
| 49,881 | * | Rapid7, Inc | 3,332 | |||||||
| 367,021 | * | Remitly Global, Inc | 2,811 | |||||||
| 110,816 | * | Repay Holdings Corp | 1,424 | |||||||
| 37,224 | Reply S.p.A | 4,528 | ||||||||
| 7,972 | * | Rimini Street, Inc | 48 | |||||||
| 128,132 | * | RingCentral, Inc | 6,696 | |||||||
| 99,333 | *,e | Riot Blockchain, Inc | 416 | |||||||
| 228,153 | Roper Technologies, Inc | 90,041 | ||||||||
| 28,345 | Route Mobile Ltd | 449 | ||||||||
| 49,115 | e | S&T AG. | 727 | |||||||
| 234,056 | *,e | Sabre Corp | 1,365 | |||||||
| 1,419,393 | Sage Group plc | 10,991 | ||||||||
| 68,178 | * | SailPoint Technologies Holding, Inc | 4,273 | |||||||
| 63,762 | Saipens International Corp NV | 1,509 | ||||||||
| 2,584,722 | * | salesforce.com, Inc | 426,583 | |||||||
| 25,538 | Samsung SDS Co Ltd | 2,565 | ||||||||
| 16,780 | Sangfor Technologies, Inc | 261 | ||||||||
| 363,200 | * | Sansan, Inc | 2,497 | |||||||
| 1,108,703 | SAP AG. | 101,059 | ||||||||
| 24,057 | Sapiens International Corp NV | 582 | ||||||||
| 1,858 | Secunet Security Networks AG. | 555 | ||||||||
| 167 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 9,960 | * | SecureWorks Corp | $ | 108 | ||||||
| 145,827 | *,e | SentinelOne, Inc | 3,402 | |||||||
| 665,597 | * | ServiceNow, Inc | 316,505 | |||||||
| 45,489 | * | Shanghai Baosight Software Co Ltd | 372 | |||||||
| 460,700 | * | Shanghai Baosight Software Co Ltd | 1,946 | |||||||
| 218,372 | * | SHIFT, Inc | 28,637 | |||||||
| 43,972 | * | Shift4 Payments, Inc | 1,454 | |||||||
| 2,467,570 | * | Shopify, Inc (Class A) | 77,102 | |||||||
| 2,117 | * | ShotSpotter, Inc | 57 | |||||||
| 929,741 | Silverlake Axis Ltd | 265 | ||||||||
| 47,808 | SimCorp AS | 3,495 | ||||||||
| 21,261 | *,e | SimilarWeb Ltd | 175 | |||||||
| 28,400 | * | Simplex Holdings, Inc | 366 | |||||||
| 584,070 | *,e,g | Sinch AB | 1,908 | |||||||
| 726,012 | * | SiteMinder Ltd | 1,769 | |||||||
| 65,434 | * | Skillsoft Corp | 230 | |||||||
| 218,358 | * | Smartsheet, Inc | 6,863 | |||||||
| 212,089 | * | Snowflake, Inc | 29,493 | |||||||
| 12,200 | Softbank Technology Corp | 196 | ||||||||
| 149,921 | Softcat plc | 2,413 | ||||||||
| 67,654 | Software AG. | 2,243 | ||||||||
| 39,598 | SolarWinds Corp | 406 | ||||||||
| 102,648 | * | Solutions 30 SE | 385 | |||||||
| 68,718 | Sonata Software Ltd | 584 | ||||||||
| 41,858 | Sopra Group S.A. | 6,295 | ||||||||
| 155,658 | * | Splunk, Inc | 13,770 | |||||||
| 109,409 | * | Sprout Social, Inc | 6,353 | |||||||
| 127,255 | * | SPS Commerce, Inc | 14,386 | |||||||
| 21,077 | *,e | Squarespace, Inc | 441 | |||||||
| 17,640 | SS&C Technologies Holdings, Inc | 1,024 | ||||||||
| 3,623,604 | *,e | StoneCo Ltd | 27,902 | |||||||
| 27,300 | Sumisho Computer Systems Corp | 464 | ||||||||
| 126,798 | * | Sumo Logic, Inc | 950 | |||||||
| 810,224 | SUNeVision Holdings Ltd | 619 | ||||||||
| 379,752 | * | SVMK, Inc | 3,342 | |||||||
| 108,450 | Switch, Inc | 3,633 | ||||||||
| 783,355 | * | Synopsys, Inc | 237,905 | |||||||
| 322,112 | Systena Corp | 940 | ||||||||
| 418,000 | Systex Corp | 1,003 | ||||||||
| 76,851 | Tanla Platforms Ltd | 984 | ||||||||
| 940,325 | Tata Consultancy Services Ltd | 39,049 | ||||||||
| 56,431 | Tata Elxsi Ltd | 5,867 | ||||||||
| 25,500 | * | TDCX, Inc (ADR) | 236 | |||||||
| 175,101 | *,g | TeamViewer AG. | 1,751 | |||||||
| 420,674 | Tech Mahindra Ltd | 5,351 | ||||||||
| 49,300 | TechMatrix Corp | 613 | ||||||||
| 337,653 | Technology One Ltd | 2,504 | ||||||||
| 13,963 | e | TECSYS, Inc | 363 | |||||||
| 75,925 | * | Telos Corp | 613 | |||||||
| 66,582 | Temenos Group AG. | 5,698 | ||||||||
| 607,800 | * | Tenable Holdings, Inc | 27,600 | |||||||
| 99,766 | * | Teradata Corp | 3,692 | |||||||
| 168 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 3,160 | *,e | Terawulf, Inc | $ | 4 | ||||||
| 25,761 | Thunder Software Technology Co Ltd | 504 | ||||||||
| 104,222 | Tietoenator Oyj | 2,583 | ||||||||
| 154,500 | TIS, Inc | 4,065 | ||||||||
| 33,040 | TKC | 802 | ||||||||
| 119,296 | * | Toast, Inc | 1,544 | |||||||
| 80,681 | *,e | TomTom NV | 595 | |||||||
| 541,952 | Totvus S.A. | 2,409 | ||||||||
| 422,068 | * | Trade Desk, Inc | 17,680 | |||||||
| 29,961 | * | Trans Cosmos, Inc/Japan | 773 | |||||||
| 686,219 | Travelsky Technology Ltd | 1,338 | ||||||||
| 29,752 | * | Trend Micro, Inc | 1,456 | |||||||
| 11,227 | e | Trifork Holding AG. | 291 | |||||||
| 74,913 | *,e | Truecaller AB | 362 | |||||||
| 2,967 | TTEC Holdings, Inc | 201 | ||||||||
| 1,743 | *,e | Tucows, Inc | 78 | |||||||
| 47,952 | * | Turing Holding Corp | 677 | |||||||
| 226,300 | *,e | Tuya, Inc (ADR) | 593 | |||||||
| 288,732 | * | Twilio, Inc | 24,199 | |||||||
| 7,330 | * | Tyler Technologies, Inc | 2,437 | |||||||
| 423,873 | *,e | Tyro Payments Ltd | 176 | |||||||
| 36,721 | * | UiPath, Inc | 668 | |||||||
| 21,541 | * | Unisys Corp | 259 | |||||||
| 150,292 | *,e | Unity Software, Inc | 5,534 | |||||||
| 26,890 | * | Upland Software, Inc | 390 | |||||||
| 134,241 | *,e | UserTesting, Inc | 674 | |||||||
| 947,955 | Vakrangee Ltd | 322 | ||||||||
| 200,327 | * | Varonis Systems, Inc | 5,874 | |||||||
| 15,216 | * | Verint Systems, Inc | 644 | |||||||
| 87,417 | * | VeriSign, Inc | 14,627 | |||||||
| 6,114 | *,e | Veritone, Inc | 40 | |||||||
| 1,200,238 | * | Verra Mobility Corp | 18,856 | |||||||
| 2,770 | * | Viant Technology, Inc | 14 | |||||||
| 3,455,816 | Visa, Inc (Class A) | 680,416 | ||||||||
| 34,168 | Vitec Software Group AB | 1,481 | ||||||||
| 195,122 | VMware, Inc (Class A) | 22,240 | ||||||||
| 1,697,000 | *,e | Vobile Group Ltd | 1,008 | |||||||
| 56,928 | *,e | Volue ASA | 138 | |||||||
| 657,532 | * | Vonage Holdings Corp | 12,388 | |||||||
| 9,162 | Wavestone | 421 | ||||||||
| 214 | *,e | Weave Communications, Inc | 1 | |||||||
| 2,214,000 | *,e,g | Weimob, Inc | 1,527 | |||||||
| 550,172 | Western Union Co | 9,061 | ||||||||
| 42,447 | * | WEX, Inc | 6,603 | |||||||
| 12,559 | Wiit S.p.A | 230 | ||||||||
| 969,257 | Wipro Ltd | 5,130 | ||||||||
| 152,062 | Wisetech Global Ltd | 3,987 | ||||||||
| 111,084 | * | Wix.com Ltd | 7,282 | |||||||
| 11,030 | * | WM Technology, Inc | 36 | |||||||
| 385,621 | * | Workday, Inc | 53,825 | |||||||
| 126,815 | * | Workiva, Inc | 8,369 | |||||||
| 33,444 | *,g | Worldline S.A. | 1,247 | |||||||
| 169 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 139,784 | * | Xero Ltd | $ | 7,456 | ||||||
| 84,339 | Xperi Holding Corp | 1,217 | ||||||||
| 244,000 | *,e | Yeahka Ltd | 695 | |||||||
| 271,347 | * | Yext, Inc | 1,297 | |||||||
| 128,387 | Yonyou Network Technology Co Ltd | 418 | ||||||||
| 181,466 | *,e | Zendesk, Inc | 13,441 | |||||||
| 141,328 | Zensar Technologies Ltd | 490 | ||||||||
| 4,791 | * | Zeta Global Holdings Corp | 22 | |||||||
| 32,552 | * | Zoom Video Communications, Inc | 3,515 | |||||||
| 235,706 | * | Zscaler, Inc | 35,240 | |||||||
| 18,800 | Zuken, Inc | 424 | ||||||||
| 902,467 | * | Zuora Inc | 8,077 | |||||||
| TOTAL SOFTWARE & SERVICES | 11,246,514 | |||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 5.5% | ||||||||||
| 127,318 | * | 3D Systems Corp | 1,235 | |||||||
| 14,917 | *,e | 908 Devices, Inc | 307 | |||||||
| 544,444 | e | AAC Technologies Holdings, Inc | 1,258 | |||||||
| 537,402 | Accton Technology Corp | 4,323 | ||||||||
| 38,074 | * | ACE Technologies Corp | 210 | |||||||
| 2,018,532 | Acer, Inc | 1,476 | ||||||||
| 109,000 | Adlink Technology, Inc | 208 | ||||||||
| 12,221 | Adtran, Inc | 214 | ||||||||
| 52,611 | * | ADVA Optical Networking SE | 713 | |||||||
| 53,000 | Advanced Ceramic X Corp | 330 | ||||||||
| 6,566 | Advanced Energy Industries, Inc | 479 | ||||||||
| 291,331 | Advantech Co Ltd | 3,390 | ||||||||
| 79,286 | *,e | Aeva Technologies, Inc | 248 | |||||||
| 4,078 | *,e | AEye, Inc | 8 | |||||||
| 41,506 | Ai Holdings Corp | 475 | ||||||||
| 12,637 | *,e | Akoustis Technologies, Inc | 47 | |||||||
| 218,000 | Alpha Networks, Inc | 188 | ||||||||
| 228,500 | Alps Electric Co Ltd | 2,322 | ||||||||
| 7,611 | ALSO Holding AG. | 1,501 | ||||||||
| 64,750 | Amano Corp | 1,120 | ||||||||
| 349,305 | Amphenol Corp (Class A) | 22,488 | ||||||||
| 167,293 | e | Anritsu Corp | 1,811 | |||||||
| 151,000 | Apex International Co Ltd | 352 | ||||||||
| 25,106,902 | Apple, Inc | 3,432,616 | ||||||||
| 163,000 | * | Arcadyan Technology Corp | 658 | |||||||
| 663,919 | * | Arista Networks, Inc | 62,236 | |||||||
| 921,341 | * | Arlo Technologies, Inc | 5,777 | |||||||
| 78,074 | * | Arrow Electronics, Inc | 8,751 | |||||||
| 285,000 | Asia Optical Co, Inc | 593 | ||||||||
| 343,000 | Asia Vital Components Co Ltd | 1,076 | ||||||||
| 43,000 | * | ASROCK, Inc | 158 | |||||||
| 505,026 | Asustek Computer, Inc | 5,282 | ||||||||
| 5,853,534 | * | AU Optronics Corp | 3,205 | |||||||
| 44,776 | Audiocodes Ltd | 981 | ||||||||
| 66,000 | AURAS Technology Co Ltd | 355 | ||||||||
| 113,000 | Aurora Corp | 332 | ||||||||
| 29,703 | Austria Technologie & Systemtechnik AG. | 1,596 | ||||||||
| 170 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 152,100 | Avary Holding Shenzhen Co Ltd | $ | 689 | |||||||
| 8,196 | * | Aviat Networks, Inc | 205 | |||||||
| 153,168 | * | Avid Technology, Inc | 3,975 | |||||||
| 167,547 | Avnet, Inc | 7,184 | ||||||||
| 76,800 | Azbil Corp | 2,025 | ||||||||
| 4,704 | Badger Meter, Inc | 381 | ||||||||
| 83,128 | e | Barco NV | 1,753 | |||||||
| 4,245 | Basler AG. | 341 | ||||||||
| 4,000 | Beijing Yuanliu Hongyuan Electronic Technology Co Ltd | 80 | ||||||||
| 85,300 | Belden CDT, Inc | 4,544 | ||||||||
| 29,517 | Benchmark Electronics, Inc | 666 | ||||||||
| 1,684,000 | Benq Corp | 1,625 | ||||||||
| 25,960 | BH Co Ltd | 489 | ||||||||
| 1,643,937 | BOE Technology Group Co Ltd | 968 | ||||||||
| 43,330 | Brother Industries Ltd | 762 | ||||||||
| 504,939 | e | BYD Electronic International Co Ltd | 1,598 | |||||||
| 344,347 | * | Calix, Inc | 11,756 | |||||||
| 2,071 | * | Cambium Networks Corp | 30 | |||||||
| 103,300 | *,e | Canaan, Inc (ADR) | 333 | |||||||
| 20,700 | * | Canon Electronics, Inc | 233 | |||||||
| 54,990 | e | Canon Marketing Japan, Inc | 1,143 | |||||||
| 182,059 | e | Canon, Inc | 4,126 | |||||||
| 443,000 | Career Technology Co Ltd | 330 | ||||||||
| 59,242 | *,e | Casa Systems, Inc | 233 | |||||||
| 500,947 | Catcher Technology Co Ltd | 2,795 | ||||||||
| 384,214 | e | CDW Corp | 60,537 | |||||||
| 230,798 | * | Celestica, Inc | 2,245 | |||||||
| 462,000 | Chang Wah Electromaterials, Inc | 519 | ||||||||
| 115,245 | Chaozhou Three-Circle Group Co Ltd | 519 | ||||||||
| 508,000 | Cheng Uei Precision Industry Co Ltd | 565 | ||||||||
| 702,000 | Chicony Electronics Co Ltd | 1,750 | ||||||||
| 489,600 | *,† | China Fiber Optic Network System Group Ltd | 1 | |||||||
| 120,957 | China Greatwall Technology Group Co Ltd | 196 | ||||||||
| 389,963 | China Railway Signal & Communication Corp Ltd | 264 | ||||||||
| 31,200 | China Zhenhua Group Science & Technology Co Ltd | 635 | ||||||||
| 362,000 | Chin-Poon Industrial Co | 357 | ||||||||
| 415,000 | * | Chroma ATE, Inc | 2,137 | |||||||
| 22,000 | Chunghwa Precision Test Tech Co Ltd | 303 | ||||||||
| 1,750,658 | * | Ciena Corp | 80,005 | |||||||
| 6,761,392 | Cisco Systems, Inc | 288,306 | ||||||||
| 442,700 | Citizen Watch Co Ltd | 1,801 | ||||||||
| 2,057 | * | Clearfield, Inc | 127 | |||||||
| 375,000 | Clevo Co | 394 | ||||||||
| 155,975 | e | Codan Ltd | 751 | |||||||
| 167,141 | Cognex Corp | 7,107 | ||||||||
| 4,343 | * | Coherent, Inc | 1,156 | |||||||
| 2,276,312 | e | Comba Telecom Systems Holdings Ltd | 389 | |||||||
| 16,293 | Comet Holding AG. | 2,569 | ||||||||
| 40,754 | * | CommScope Holding Co, Inc | 249 | |||||||
| 3,017,524 | Compal Electronics, Inc | 2,310 | ||||||||
| 1,211,000 | Compeq Manufacturing Co | 1,770 | ||||||||
| 1,172 | * | CompoSecure, Inc | 6 | |||||||
| 171 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 21,857 | Comtech Telecommunications Corp | $ | 198 | |||||||
| 13,200 | CONEXIO Corp | 129 | ||||||||
| 348,000 | Coretronic Corp | 590 | ||||||||
| 396,970 | Corning, Inc | 12,509 | ||||||||
| 17,554 | *,e | Corsair Gaming, Inc | 230 | |||||||
| 25,727 | * | CosmoAM&T Co Ltd | 954 | |||||||
| 230,000 | Co-Tech Development Corp | 352 | ||||||||
| 348,000 | *,e | Cowell e Holdings, Inc | 454 | |||||||
| 55,152 | CTS Corp | 1,878 | ||||||||
| 39,321 | Daeduck Electronics Co Ltd | 795 | ||||||||
| 13,188 | Daejoo Electronic Materials Co Ltd | 673 | ||||||||
| 95,270 | Daiwabo Co Ltd | 1,244 | ||||||||
| 241,000 | Darfon Electronics Corp | 328 | ||||||||
| 20,211 | e | Datalogic S.p.A. | 151 | |||||||
| 222,675 | DataTec Ltd | 564 | ||||||||
| 239,826 | Dell Technologies, Inc | 11,082 | ||||||||
| 223,457 | Delta Electronics Thai PCL | 2,105 | ||||||||
| 1,361,673 | Delta Electronics, Inc | 10,153 | ||||||||
| 64,301 | Dexerials Corp | 1,716 | ||||||||
| 70,756 | e | Dicker Data Ltd | 541 | |||||||
| 19,888 | * | Digi International, Inc | 482 | |||||||
| 31,326 | Dreamtech Co Ltd | 232 | ||||||||
| 159,000 | Dynapack International Technology Corp | 382 | ||||||||
| 3,795 | * | DZS, Inc | 62 | |||||||
| 428,500 | * | Eastern Communications Co Ltd | 185 | |||||||
| 50,432 | *,e | Eastman Kodak Co | 234 | |||||||
| 18,924 | Eizo Nanao Corp | 527 | ||||||||
| 56,896 | Elecom Co Ltd | 641 | ||||||||
| 327,000 | Elite Material Co Ltd | 1,968 | ||||||||
| 308,000 | Elitegroup Computer Systems Co Ltd | 220 | ||||||||
| 77,679 | Ennoconn Corp | 559 | ||||||||
| 51,354 | * | ePlus, Inc | 2,728 | |||||||
| 8,471,800 | * | Erajaya Swasembada Tbk PT | 299 | |||||||
| 3,056,021 | Ericsson (LM) (B Shares) | 22,825 | ||||||||
| 35,986 | e | Esprinet S.p.A. | 258 | |||||||
| 32,127 | Evertz Technologies Ltd | 326 | ||||||||
| 67,896 | * | Evolv Technologies Holdings, Inc | 181 | |||||||
| 620,489 | * | Extreme Networks, Inc | 5,535 | |||||||
| 32,580 | * | F5 Networks, Inc | 4,986 | |||||||
| 64,331 | * | Fabrinet | 5,217 | |||||||
| 14,921 | * | FARO Technologies, Inc | 460 | |||||||
| 100,848 | Fiberhome Telecommunication Technologies Co Ltd | 219 | ||||||||
| 3,735,000 | * | FIH Mobile Ltd | 534 | |||||||
| 328,262 | *,e | Fingerprint Cards AB | 287 | |||||||
| 400,000 | FLEXium Interconnect, Inc | 1,166 | ||||||||
| 2,714 | *,e | Focus Universal, Inc | 31 | |||||||
| 294,100 | Forth Corp PCL | 351 | ||||||||
| 498,924 | Foxconn Industrial Internet Co Ltd | 735 | ||||||||
| 1,058,000 | Foxconn Technology Co Ltd | 1,755 | ||||||||
| 954,863 | Fujifilm Holdings Corp | 51,306 | ||||||||
| 285,000 | General Interface Solution Holding Ltd | 734 | ||||||||
| 97,000 | Genius Electronic Optical Co Ltd | 1,199 | ||||||||
| 172 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 453,000 | Getac Technology Corp | $ | 615 | |||||||
| 590,000 | Gigabyte Technology Co Ltd | 1,763 | ||||||||
| 47,546 | * | Gilat Satellite Networks Ltd | 286 | |||||||
| 299,000 | Global Brands Manufacture Ltd | 288 | ||||||||
| 137,422 | GoerTek, Inc | 690 | ||||||||
| 456,000 | Gold Circuit Electronics Ltd | 1,171 | ||||||||
| 195,436 | GRG Banking Equipment Co Ltd | 271 | ||||||||
| 115,297 | Guangzhou Haige Communications Group, Inc Co | 157 | ||||||||
| 40,418 | Guangzhou Shiyuan Electronic Technology Co Ltd | 455 | ||||||||
| 892,565 | Halma plc | 21,914 | ||||||||
| 91,084 | Hamamatsu Photonics KK | 3,548 | ||||||||
| 720,800 | Hana Microelectronics PCL (Foreign) | 835 | ||||||||
| 355,000 | Hannstar Board Corp | 379 | ||||||||
| 2,683,000 | HannStar Display Corp | 917 | ||||||||
| 123,766 | * | Harmonic, Inc | 1,073 | |||||||
| 224,600 | Hengtong Optic-electric Co Ltd | 489 | ||||||||
| 1,156,459 | Hewlett Packard Enterprise Co | 15,335 | ||||||||
| 1,138,753 | Hexagon AB | 11,899 | ||||||||
| 754,000 | * | High Tech Computer Corp | 1,243 | |||||||
| 11,100 | e | Hioki EE Corp | 521 | |||||||
| 25,444 | Hirose Electric Co Ltd | 3,378 | ||||||||
| 65,000 | Hiwin Mikrosystem Corp | 201 | ||||||||
| 32,741 | HMS Networks AB | 1,400 | ||||||||
| 135,000 | Holystone Enterprise Co Ltd | 452 | ||||||||
| 21,807,640 | Hon Hai Precision Industry Co, Ltd | 80,059 | ||||||||
| 89,400 | *,e | Hong Kong Aerospace Technology Group Ltd | 203 | |||||||
| 40,399 | Horiba Ltd | 1,723 | ||||||||
| 57,200 | Hosiden Corp | 521 | ||||||||
| 1,010,257 | HP, Inc | 33,116 | ||||||||
| 62,000 | Huagong Tech Co Ltd | 215 | ||||||||
| 117,400 | Ibiden Co Ltd | 3,326 | ||||||||
| 3,768 | * | Identiv, Inc | 44 | |||||||
| 9,663 | *,e | II-VI, Inc | 492 | |||||||
| 24,938 | Iljin Materials Co Ltd | 1,350 | ||||||||
| 2,033 | Inficon Holding AG. | 1,603 | ||||||||
| 29,141 | *,e | Infinera Corp | 156 | |||||||
| 92,000 | Innodisk Corp | 505 | ||||||||
| 7,166,321 | InnoLux Display Corp | 2,916 | ||||||||
| 67,948 | *,e | Inseego Corp | 128 | |||||||
| 92,036 | * | Insight Enterprises, Inc | 7,941 | |||||||
| 65,500 | Inspur Electronic Information Industry Co Ltd | 260 | ||||||||
| 101,200 | Intelbras S.A. Industria de Telecomunicacao Eletronica Brasileira | 478 | ||||||||
| 6,832 | Intellian Technologies, Inc | 316 | ||||||||
| 12,799 | INTOPS Co Ltd | 257 | ||||||||
| 1,573,172 | Inventec Co Ltd | 1,330 | ||||||||
| 89,115 | *,e | IonQ, Inc | 390 | |||||||
| 17,741 | * | IPG Photonics Corp | 1,670 | |||||||
| 24,300 | Iriso Electronics Co Ltd | 576 | ||||||||
| 240,000 | ITEQ Corp | 581 | ||||||||
| 34,780 | * | Itron, Inc | 1,719 | |||||||
| 21,613 | Ituran Location and Control Ltd | 529 | ||||||||
| 174,344 | Jabil Inc | 8,928 | ||||||||
| 173 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 55,742 | Japan Aviation Electronics Industry Ltd | $ | 842 | |||||||
| 864,794 | * | Japan Display, Inc | 441 | |||||||
| 610,900 | Jaymart PCL | 883 | ||||||||
| 61,309 | Jenoptik AG. | 1,379 | ||||||||
| 2,291,250 | Juniper Networks, Inc | 65,301 | ||||||||
| 18,200 | Kaga Electronics Co Ltd | 407 | ||||||||
| 878,200 | KCE Electronics PCL | 1,503 | ||||||||
| 324,904 | Keyence Corp | 111,422 | ||||||||
| 111,202 | * | Keysight Technologies, Inc | 15,329 | |||||||
| 20,522 | * | Kimball Electronics, Inc | 412 | |||||||
| 67,000 | King Slide Works Co Ltd | 920 | ||||||||
| 496,205 | Kingboard Chemical Holdings Ltd | 1,882 | ||||||||
| 1,110,246 | Kingboard Laminates Holdings Ltd | 1,372 | ||||||||
| 30,425 | * | KMW Co Ltd | 613 | |||||||
| 72,762 | * | Knowles Corp | 1,261 | |||||||
| 38,300 | Koa Corp | 457 | ||||||||
| 1,044,100 | Konica Minolta Holdings, Inc | 3,480 | ||||||||
| 13,551 | * | Korea Circuit Co Ltd | 203 | |||||||
| 58,393 | Kyocera Corp | 3,121 | ||||||||
| 24,874 | e | L&F Co Ltd | 4,055 | |||||||
| 26,171 | e | Landis&Gyr Group AG. | 1,373 | |||||||
| 71,625 | Largan Precision Co Ltd | 4,162 | ||||||||
| 943 | e | LEM Holding S.A. | 1,802 | |||||||
| 48,270,399 | Lenovo Group Ltd | 45,360 | ||||||||
| 371,123 | Lens Technology Co Ltd | 616 | ||||||||
| 175,599 | e | LG Display Co Ltd | 1,970 | |||||||
| 10,104 | LG Innotek Co Ltd | 2,680 | ||||||||
| 51,582 | *,e | Lightwave Logic, Inc | 337 | |||||||
| 522,684 | * | Lingyi iTech Guangdong Co | 393 | |||||||
| 1,441,277 | Lite-On Technology Corp | 2,805 | ||||||||
| 7,875 | Littelfuse, Inc | 2,001 | ||||||||
| 181,181 | e | Logitech International S.A. | 9,448 | |||||||
| 92,000 | Lotes Co Ltd | 2,070 | ||||||||
| 626,577 | *,e | Lumentum Holdings, Inc | 49,763 | |||||||
| 485,224 | Luxshare Precision Industry Co Ltd | 2,454 | ||||||||
| 54,607 | Macnica Fuji Electronics Holdings, Inc | 1,053 | ||||||||
| 10,400 | Maruwa Co Ltd | 1,187 | ||||||||
| 159,100 | Maxell Holdings Ltd | 1,554 | ||||||||
| 30,534 | Maxscend Microelectronics Co Ltd | 618 | ||||||||
| 81,591 | Mcj Co Ltd | 530 | ||||||||
| 13,298 | Mcnex Co Ltd | 321 | ||||||||
| 24,000 | Meiko Electronics Co | 564 | ||||||||
| 7,065 | Melco Holdings, Inc | 180 | ||||||||
| 233,881 | Merry Electronics Co Ltd | 605 | ||||||||
| 29,473 | Methode Electronics, Inc | 1,092 | ||||||||
| 6,343,900 | Metrodata Electronics Tbk PT | 251 | ||||||||
| 198,000 | *,†,e | MH Development Ltd | 0 | ^ | ||||||
| 87,444 | e | Micronic AB | 1,232 | |||||||
| 474,200 | Micro-Star International Co Ltd | 1,812 | ||||||||
| 28,951 | *,e | Microvision, Inc | 111 | |||||||
| 114,264 | * | Mirion Technologies, Inc | 658 | |||||||
| 1,076,000 | Mitac Holdings Corp | 995 | ||||||||
| 174 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 251,215 | Motorola Solutions, Inc | $ | 52,655 | |||||||
| 228,800 | Multilaser Industrial S.A. | 173 | ||||||||
| 516,427 | Murata Manufacturing Co Ltd | 28,108 | ||||||||
| 150,000 | Nan Ya Printed Circuit Board Corp | 1,319 | ||||||||
| 304,600 | *,e | Nano Dimension Ltd (ADR) | 956 | |||||||
| 5,326 | * | Napco Security Technologies, Inc | 110 | |||||||
| 231,790 | National Instruments Corp | 7,239 | ||||||||
| 103,464 | * | Nayax Ltd | 192 | |||||||
| 48,139 | Neopost S.A. | 820 | ||||||||
| 220,000 | NetApp, Inc | 14,353 | ||||||||
| 24,330 | * | Netgear, Inc | 451 | |||||||
| 58,687 | * | Netscout Systems, Inc | 1,987 | |||||||
| 47,350 | Nichicon Corp | 440 | ||||||||
| 107,315 | Ninestar Corp | 814 | ||||||||
| 25,600 | Nippon Ceramic Co Ltd | 385 | ||||||||
| 97,276 | e | Nippon Electric Glass Co Ltd | 1,863 | |||||||
| 46,256 | Nippon Signal Co Ltd | 335 | ||||||||
| 43,360 | Nissha Printing Co Ltd | 469 | ||||||||
| 47,814 | * | nLight, Inc | 489 | |||||||
| 26,172 | Nohmi Bosai Ltd | 357 | ||||||||
| 1 | Nokia Corp (ADR) | 0 | ^ | |||||||
| 6,094,441 | Nokia Oyj | 28,248 | ||||||||
| 19,970 | * | Note AB | 380 | |||||||
| 15,695 | * | Novanta, Inc | 1,903 | |||||||
| 333,875 | * | Novonix Ltd | 527 | |||||||
| 171,310 | * | OFILM Group Co Ltd | 172 | |||||||
| 102,936 | Oki Electric Industry Co Ltd | 562 | ||||||||
| 73,868 | Omron Corp | 3,760 | ||||||||
| 5,252 | * | Ondas Holdings, Inc | 28 | |||||||
| 40,879 | e | Optex Co Ltd | 608 | |||||||
| 27,341 | * | OSI Systems, Inc | 2,336 | |||||||
| 117,527 | *,e | Ouster, Inc | 190 | |||||||
| 481,000 | Pan-International Industrial | 602 | ||||||||
| 15,518 | *,e | PAR Technology Corp | 582 | |||||||
| 5,289 | Park Systems Corp | 394 | ||||||||
| 48,538 | Partron Co Ltd | 317 | ||||||||
| 861,000 | PAX Global Technology Ltd | 671 | ||||||||
| 38,407 | PC Connection, Inc | 1,692 | ||||||||
| 1,445,915 | Pegatron Technology Corp | 2,772 | ||||||||
| 10,018 | * | Penta Teknoloji Urunleri Dagitim Ticaret AS. | 242 | |||||||
| 7,772 | * | Plantronics, Inc | 308 | |||||||
| 7,298 | * | Plexus Corp | 573 | |||||||
| 491,000 | Primax Electronics Ltd | 1,022 | ||||||||
| 5,526,000 | Prime View International Co Ltd | 35,285 | ||||||||
| 460,412 | * | Pure Storage, Inc | 11,837 | |||||||
| 1,939,390 | Quanta Computer, Inc | 5,203 | ||||||||
| 1 | * | Quantum Corp | 0 | ^ | ||||||
| 98,972 | * | Radware Ltd | 2,145 | |||||||
| 26,318 | Raytron Technology Co Ltd | 156 | ||||||||
| 646,000 | Redington India Ltd | 1,030 | ||||||||
| 47,575 | Renishaw plc | 2,072 | ||||||||
| 15,747 | Restar Holdings Corp | 221 | ||||||||
| 175 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 66,976 | * | Ribbon Communications, Inc | $ | 204 | ||||||
| 274,285 | Ricoh Co Ltd | 2,141 | ||||||||
| 14,826 | Riken Keiki Co Ltd | 396 | ||||||||
| 22,798 | Riso Kagaku Corp | 373 | ||||||||
| 11,976 | * | Rogers Corp | 3,139 | |||||||
| 23,233 | Ryosan Co Ltd | 376 | ||||||||
| 18,100 | e | Ryoyo Electro Corp | 300 | |||||||
| 39,045 | Samsung Electro-Mechanics Co Ltd | 3,950 | ||||||||
| 7,018,232 | Samsung Electronics Co Ltd | 309,556 | ||||||||
| 585,651 | Samsung Electronics Co Ltd (Preference) | 23,540 | ||||||||
| 139,334 | Samsung SDI Co Ltd | 57,459 | ||||||||
| 7,823 | Samwha Capacitor Co Ltd | 238 | ||||||||
| 9,734 | Sang-A Frontec Co Ltd | 220 | ||||||||
| 169,127 | * | Sanmina Corp | 6,889 | |||||||
| 70,864 | * | SBW Life Sciences Co Ltd | 198 | |||||||
| 29,067 | * | Scansource, Inc | 905 | |||||||
| 2,865 | Seagate Technology Holdings plc | 205 | ||||||||
| 40,776 | *,e | Seco S.p.A | 272 | |||||||
| 102,360 | Seiko Epson Corp | 1,448 | ||||||||
| 10,793 | *,g | Sensirion Holding AG. | 1,096 | |||||||
| 29,000 | Sensortek Technology Corp | 268 | ||||||||
| 30,128 | Seojin System Co Ltd | 348 | ||||||||
| 260,000 | Sercomm Corp | 710 | ||||||||
| 22,434 | Sesa S.p.A | 2,858 | ||||||||
| 5,984 | * | SES-imagotag S.A. | 509 | |||||||
| 5,693 | Shanghai Friendess Electronic Technology Corp Ltd | 188 | ||||||||
| 141,584 | Shengyi Technology Co Ltd | 360 | ||||||||
| 22,205 | Shennan Circuits Co Ltd | 312 | ||||||||
| 36,100 | Shenzhen Sunlord Electronics Co Ltd | 147 | ||||||||
| 44,385 | Shenzhen Transsion Holdings Co Ltd | 594 | ||||||||
| 72,617 | Shimadzu Corp | 2,302 | ||||||||
| 44,752 | * | Sierra Wireless, Inc | 1,048 | |||||||
| 32,100 | Siix Corp | 225 | ||||||||
| 254,000 | Simplo Technology Co Ltd | 2,180 | ||||||||
| 255,000 | Sinbon Electronics Co Ltd | 2,185 | ||||||||
| 1,134,400 | SKP Resources Bhd | 405 | ||||||||
| 21,629 | *,e | SmartRent, Inc | 98 | |||||||
| 34,890 | e | Softchoice Corp | 610 | |||||||
| 870,539 | e | Softwareone Holding AG. | 10,436 | |||||||
| 42,827 | * | SOLUM Co Ltd | 642 | |||||||
| 20,191 | Solus Advanced Materials Co Ltd | 707 | ||||||||
| 302,591 | Spectris plc | 10,025 | ||||||||
| 120,000 | Speed Tech Corp | 216 | ||||||||
| 1,412,447 | Spirent Communications plc | 4,243 | ||||||||
| 209,523 | Sterlite Technologies Ltd | 396 | ||||||||
| 481,789 | * | Stratasys Ltd | 9,029 | |||||||
| 252,336 | e | Strix Group plc | 513 | |||||||
| 507,649 | Sunny Optical Technology Group Co Ltd | 8,324 | ||||||||
| 229,232 | * | Super Micro Computer, Inc | 9,250 | |||||||
| 516,000 | * | Supreme Electronics Co Ltd | 731 | |||||||
| 142,041 | Suzhou Dongshan Precision Manufacturing Co Ltd | 488 | ||||||||
| 36,754 | SYNNEX Corp | 3,348 | ||||||||
| 176 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 905,621 | Synnex Technology International Corp | $ | 1,621 | |||||||
| 264,000 | Synnex Thailand PCL | 136 | ||||||||
| 338,300 | Synnex Thailand PCL | 175 | ||||||||
| 291,000 | Taiwan Union Technology Corp | 550 | ||||||||
| 136,440 | Taiyo Yuden Co Ltd | 4,649 | ||||||||
| 70,837 | TDK Corp | 2,190 | ||||||||
| 1,223,666 | TE Connectivity Ltd | 138,458 | ||||||||
| 70,798 | *,g | Tejas Networks Ltd | 407 | |||||||
| 98,834 | * | Teledyne Technologies, Inc | 37,074 | |||||||
| 193,000 | Test Research, Inc | 387 | ||||||||
| 81,000 | Thinking Electronic Industrial Co Ltd | 340 | ||||||||
| 39,504 | * | Tianjin 712 Communication & Broadcasting Co Ltd | 186 | |||||||
| 80,630 | Tianma Microelectronics Co Ltd | 120 | ||||||||
| 330,000 | Tong Hsing Electronic Industries Ltd | 2,237 | ||||||||
| 122,356 | Topcon Corp | 1,600 | ||||||||
| 31,585 | Toshiba TEC Corp | 1,010 | ||||||||
| 1,452,000 | TPK Holding Co Ltd | 1,694 | ||||||||
| 201,000 | Transcend Information, Inc | 467 | ||||||||
| 130,591 | * | Trimble Inc | 7,604 | |||||||
| 562,000 | Tripod Technology Corp | 2,109 | ||||||||
| 2,080,000 | Truly International Holdings | 639 | ||||||||
| 792,784 | * | TTM Technologies, Inc | 9,910 | |||||||
| 5,828 | *,e | Turtle Beach Corp | 71 | |||||||
| 350,000 | TXC Corp | 1,071 | ||||||||
| 5,779 | e | Ubiquiti, Inc | 1,434 | |||||||
| 959,011 | Unimicron Technology Corp | 5,132 | ||||||||
| 196,611 | * | Unisplendour Corp Ltd | 571 | |||||||
| 160,016 | *,e | Velodyne Lidar, Inc | 153 | |||||||
| 157,100 | e | Venture Corp Ltd | 1,882 | |||||||
| 64,000 | VIA Labs, Inc | 551 | ||||||||
| 60,418 | * | Viasat, Inc | 1,851 | |||||||
| 68,947 | * | Viavi Solutions, Inc | 912 | |||||||
| 52,336 | * | Vidente Co Ltd | 347 | |||||||
| 107,155 | Vishay Intertechnology, Inc | 1,910 | ||||||||
| 48,203 | * | Vishay Precision Group, Inc | 1,404 | |||||||
| 642,424 | Vontier Corp | 14,769 | ||||||||
| 3,545,500 | VS Industry BHD | 801 | ||||||||
| 1,291,042 | VST Holdings Ltd | 1,035 | ||||||||
| 183,185 | Vtech Holdings Ltd | 1,443 | ||||||||
| 178,500 | Wacom Co Ltd | 1,108 | ||||||||
| 197,000 | Wah Lee Industrial Corp | 560 | ||||||||
| 381,000 | Walsin Technology Corp | 1,150 | ||||||||
| 163,442 | * | Western Digital Corp | 7,327 | |||||||
| 79,984 | Wingtech Technology Co Ltd | 1,021 | ||||||||
| 190,500 | *,†,b | Wintek Corp | 0 | ^ | ||||||
| 3,148,000 | Wistron Corp | 2,827 | ||||||||
| 333,000 | Wistron NeWeb Corp | 776 | ||||||||
| 88,049 | Wiwynn Corp | 2,063 | ||||||||
| 1,119,519 | WPG Holdings Co Ltd | 2,077 | ||||||||
| 412,000 | WT Microelectronics Co Ltd | 932 | ||||||||
| 130,881 | Wuhan Guide Infrared Co Ltd | 252 | ||||||||
| 139,152 | WUS Printed Circuit Kunshan Co Ltd | 308 | ||||||||
| 177 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 92,869 | Xerox Holdings Corp | $ | 1,379 | |||||||
| 15,500 | Xiamen Faratronic Co Ltd | 476 | ||||||||
| 10,864,600 | *,g | Xiaomi Corp | 19,009 | |||||||
| 15,750 | *,† | Ya Hsin Industrial Co Ltd | 0 | ^ | ||||||
| 308,979 | Yageo Corp | 3,204 | ||||||||
| 45,547 | Yealink Network Technology Corp Ltd | 519 | ||||||||
| 41,019 | Yokogawa Electric Corp | 679 | ||||||||
| 18,784 | Yokowo Co Ltd | 289 | ||||||||
| 49,230 | * | Zebra Technologies Corp (Class A) | 14,471 | |||||||
| 222,518 | Zhejiang Dahua Technology Co Ltd | 547 | ||||||||
| 499,558 | Zhen Ding Technology Holding Ltd | 1,731 | ||||||||
| 61,223 | Zhongji Innolight Co Ltd | 284 | ||||||||
| 17,500 | Zhuzhou Hongda Electronics Corp Ltd | 160 | ||||||||
| 278,203 | ZTE Corp | 1,064 | ||||||||
| 559,599 | ZTE Corp (Class H) | 1,309 | ||||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT | 5,823,088 | |||||||||
| TELECOMMUNICATION SERVICES - 1.5% | ||||||||||
| 869,371 | Advanced Info Service PCL | 4,788 | ||||||||
| 1,526,235 | g | Airtel Africa plc | 2,535 | |||||||
| 1,188,252 | AL Yah Satellite Communications Co-Pjsc-Yah Sat | 835 | ||||||||
| 32,117,632 | e | America Movil S.A.B. de C.V. | 32,821 | |||||||
| 8,116 | * | Anterix, Inc | 333 | |||||||
| 30,100 | ARTERIA Networks Corp | 271 | ||||||||
| 2,259,000 | * | Asia Pacific Telecom Co Ltd | 555 | |||||||
| 12,979,131 | AT&T, Inc | 272,043 | ||||||||
| 9,172 | ATN International, Inc | 430 | ||||||||
| 200,850 | * | Aussie Broadband Ltd | 460 | |||||||
| 2,018,106 | Axiata Group Bhd | 1,296 | ||||||||
| 75,814 | * | Bandwidth Inc | 1,427 | |||||||
| 87,162 | e | BCE, Inc | 4,284 | |||||||
| 3,538,745 | Bezeq Israeli Telecommunication Corp Ltd | 5,516 | ||||||||
| 2,509,304 | * | Bharti Airtel Ltd | 21,826 | |||||||
| 7,274,399 | BT Group plc | 16,533 | ||||||||
| 116,286 | * | Cellcom Israel Ltd | 575 | |||||||
| 568,957 | g | Cellnex Telecom SAU | 22,143 | |||||||
| 19,641 | *,e | Charge Enterprises, Inc | 94 | |||||||
| 31,000 | Chief Telecom, Inc | 292 | ||||||||
| 17,537,912 | g | China Tower Corp Ltd | 2,260 | |||||||
| 540,410 | Chorus Ltd | 2,434 | ||||||||
| 4,063,653 | Chunghwa Telecom Co Ltd | 16,687 | ||||||||
| 3,436,641 | Citic Telecom International Holdings Ltd | 1,138 | ||||||||
| 19,999 | Cogent Communications Group, Inc | 1,215 | ||||||||
| 57,945 | * | Consolidated Communications Holdings, Inc | 406 | |||||||
| 3,610,696 | Deutsche Telekom AG. | 71,814 | ||||||||
| 2,229,844 | Digi.Com BHD | 1,772 | ||||||||
| 53,084 | Drillisch AG. | 1,006 | ||||||||
| 82,602 | * | EchoStar Corp (Class A) | 1,594 | |||||||
| 156,662 | Elisa Oyj (Series A) | 8,820 | ||||||||
| 3,939,201 | Emirates Telecommunications Group Co PJSC | 27,987 | ||||||||
| 187,155 | Empresa Nacional de Telecomunicaciones S.A. | 585 | ||||||||
| 452,532 | Etihad Etisalat Co | 4,225 | ||||||||
| 178 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,542,282 | Far EasTone Telecommunications Co Ltd | $ | 4,340 | |||||||
| 139,091 | Freenet AG. | 3,469 | ||||||||
| 20,993 | * | Frontier Communications Parent, Inc | 494 | |||||||
| 97,784 | Gamma Communications plc | 1,281 | ||||||||
| 2,396,748 | *,e | Globalstar, Inc | 2,948 | |||||||
| 18,672 | Globe Telecom, Inc | 771 | ||||||||
| 457,882 | * | Gogo, Inc | 7,413 | |||||||
| 870,944 | *,e | Helios Towers plc | 1,287 | |||||||
| 235,195 | Hellenic Telecommunications Organization S.A. | 4,108 | ||||||||
| 805,126 | Himachal Futuristic Communications | 565 | ||||||||
| 2,108,620 | HKBN Ltd | 2,394 | ||||||||
| 3,920,739 | HKT Trust and HKT Ltd | 5,266 | ||||||||
| 1,641,607 | Hutchison Telecommunications Hong Kong Holdings Ltd | 314 | ||||||||
| 6,019 | * | IDT Corp (Class B) | 151 | |||||||
| 776,242 | Indus Towers Ltd | 2,063 | ||||||||
| 349,848 | g | Infrastrutture Wireless Italiane S.p.A | 3,557 | |||||||
| 61,024 | Internet Initiative Japan, Inc | 2,139 | ||||||||
| 1,210,000 | Intouch Holdings PCL (Class F) | 2,348 | ||||||||
| 138,079 | * | Iridium Communications, Inc | 5,186 | |||||||
| 3,952,900 | * | Jasmine International PCL | 385 | |||||||
| 1,723,887 | KDDI Corp | 54,362 | ||||||||
| 12,441,433 | Koninklijke KPN NV | 44,268 | ||||||||
| 28,441 | * | KORE Group Holdings, Inc | 87 | |||||||
| 222,725 | *,†,e | Let’s GOWEX S.A. | 2 | |||||||
| 165,441 | LG Telecom Ltd | 1,628 | ||||||||
| 34,377 | * | Liberty Global plc (Class A) | 724 | |||||||
| 32,644 | * | Liberty Latin America Ltd (Class A) | 255 | |||||||
| 599,187 | * | Liberty Latin America Ltd (Class C) | 4,668 | |||||||
| 1,039,000 | * | Link Net Tbk PT | 326 | |||||||
| 903,027 | e | Lumen Technologies, Inc | 9,852 | |||||||
| 506,352 | Magyar Telekom | 429 | ||||||||
| 1,740,283 | Maxis BHD | 1,303 | ||||||||
| 258,779 | *,e | Millicom International Cellular S.A. | 3,709 | |||||||
| 2,643,987 | Mobile Telecommunications Co KSC | 5,124 | ||||||||
| 516,502 | * | Mobile Telecommunications Co Saudi Arabia | 1,552 | |||||||
| 15,712 | Mobistar S.A. | 296 | ||||||||
| 1,932,979 | MTN Group Ltd | 15,730 | ||||||||
| 5,381,766 | NetLink NBN Trust | 3,757 | ||||||||
| 1,360,910 | Nippon Telegraph & Telephone Corp | 39,103 | ||||||||
| 245,558 | e | NOS SGPS S.A. | 987 | |||||||
| 15,100 | Okinawa Cellular Telephone Co | 602 | ||||||||
| 197,373 | * | Ooma, Inc | 2,337 | |||||||
| 1,035,972 | Ooredoo QSC | 2,190 | ||||||||
| 1,320,100 | e | Operadora de Sites Mexicanos S.A. de C.V. | 1,530 | |||||||
| 2,238,966 | Orange S. A. | 26,383 | ||||||||
| 164,937 | * | Partner Communications | 1,178 | |||||||
| 4,915,000 | PCCW Ltd | 2,598 | ||||||||
| 65,017 | PLDT, Inc | 1,986 | ||||||||
| 157,943 | Proximus plc | 2,331 | ||||||||
| 210,401 | * | Radius Global Infrastructure, Inc | 3,211 | |||||||
| 106,710 | g | RAI Way S.p.A | 571 | |||||||
| 422,266 | e | Rogers Communications, Inc (Class B) | 20,234 | |||||||
| 179 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 23,184,833 | Sarana Menara Nusantara Tbk PT | $ | 1,713 | |||||||
| 685,840 | Saudi Telecom Co | 17,785 | ||||||||
| 40,960 | Shenandoah Telecom Co | 909 | ||||||||
| 7,818,896 | Singapore Telecommunications Ltd | 14,231 | ||||||||
| 87,977 | † | Sistema PJSFC (GDR) (London) | 1 | |||||||
| 21,682 | SK Telecom Co Ltd | 870 | ||||||||
| 405,932 | e | SK Telecom Co Ltd (ADR) | 9,060 | |||||||
| 107,562,604 | * | Smartfren Telecom Tbk PT | 600 | |||||||
| 395,141 | SmarTone Telecommunications Holding Ltd | 208 | ||||||||
| 2,056,640 | Softbank Corp | 22,834 | ||||||||
| 1,248,748 | Softbank Group Corp | 48,400 | ||||||||
| 661,514 | StarHub Ltd | 586 | ||||||||
| 3,664 | *,e | Starry Group Holdings, Inc | 15 | |||||||
| 27,077 | Swisscom AG. | 14,977 | ||||||||
| 1,507,506 | Taiwan Mobile Co Ltd | 5,478 | ||||||||
| 137,010 | Tata Communications Ltd | 1,592 | ||||||||
| 572,942 | * | Tata Teleservices Maharashtra Ltd | 879 | |||||||
| 593,595 | Tele2 AB (B Shares) | 6,769 | ||||||||
| 1,949,120 | Telecom Corp of New Zealand Ltd | 5,833 | ||||||||
| 590,432 | Telecom Egypt | 435 | ||||||||
| 10,390,778 | e | Telecom Italia S.p.A. | 2,725 | |||||||
| 608,485 | Telefonica Brasil S.A. | 5,472 | ||||||||
| 1,085,401 | Telefonica Deutschland Holding AG. | 3,130 | ||||||||
| 5,946,693 | e | Telefonica S.A. | 30,361 | |||||||
| 234,202 | * | Telekom Austria AG. | 1,558 | |||||||
| 843,384 | Telekom Malaysia BHD | 1,005 | ||||||||
| 780,171 | Telekomunikacja Polska S.A. | 1,092 | ||||||||
| 732,764 | Telenor ASA | 9,792 | ||||||||
| 81,832 | Telephone & Data Systems, Inc | 1,292 | ||||||||
| 2,772,177 | TeliaSonera AB | 10,640 | ||||||||
| 57,839,301 | Telkom Indonesia Persero Tbk PT | 15,560 | ||||||||
| 368,567 | * | Telkom S.A. Ltd | 828 | |||||||
| 4,510,361 | Telstra Corp Ltd | 11,997 | ||||||||
| 540,793 | TELUS Corp | 12,045 | ||||||||
| 1,072,549 | TIM S.A. | 2,615 | ||||||||
| 1,680,200 | Time dotCom BHD | 1,670 | ||||||||
| 1,718,890 | * | T-Mobile US, Inc | 231,259 | |||||||
| 8,365,200 | Tower Bersama Infrastructure | 1,654 | ||||||||
| 175,526 | TPG Telecom Ltd | 724 | ||||||||
| 7,494,562 | True Corp PCL | 977 | ||||||||
| 1,442,030 | Turkcell Iletisim Hizmet AS | 1,407 | ||||||||
| 101,003 | United Internet AG. | 2,895 | ||||||||
| 719,984 | * | Uniti Group Ltd | 2,447 | |||||||
| 12,760 | * | US Cellular Corp | 369 | |||||||
| 19,200 | Usen-Next Holdings Co Ltd | 275 | ||||||||
| 3,342,870 | Verizon Communications, Inc | 169,651 | ||||||||
| 2,298,542 | *,e | Vision, Inc | 21,886 | |||||||
| 740,538 | e | Vodacom Group Pty Ltd | 5,997 | |||||||
| 29,091,479 | Vodafone Group plc | 45,234 | ||||||||
| 76,800 | Vodafone Group plc (ADR) | 1,197 | ||||||||
| 10,863,039 | * | Vodafone Idea Ltd | 1,163 | |||||||
| 180 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,989,800 | Vodafone Qatar | $ | 869 | |||||||
| 4,249,400 | XL Axiata Tbk PT | 743 | ||||||||
| TOTAL TELECOMMUNICATION SERVICES | 1,588,496 | |||||||||
| TRANSPORTATION - 1.9% | ||||||||||
| 581,622 | * | Adani Ports & Special Economic Zone Ltd | 4,963 | |||||||
| 1,620,100 | * | Adi Sarana Armada Tbk PT | 186 | |||||||
| 49,472 | * | Aegean Airlines S.A. | 248 | |||||||
| 78,496 | *,g | Aena S.A. | 10,016 | |||||||
| 30,729 | * | Aeroports de Paris | 3,917 | |||||||
| 1,721,319 | Agility Public Warehousing Co KSC | 4,575 | ||||||||
| 2,760,732 | Air Arabia PJSC | 1,566 | ||||||||
| 208,832 | *,e | Air Canada | 2,602 | |||||||
| 263,429 | * | Air China Ltd | 458 | |||||||
| 1,297,910 | *,e | Air China Ltd (H shares) | 1,131 | |||||||
| 2,162,451 | *,e | Air France-KLM | 2,554 | |||||||
| 2,115,377 | * | Air New Zealand Ltd | 752 | |||||||
| 33,474 | * | Air Transport Services Group, Inc | 962 | |||||||
| 4,588,388 | Airports of Thailand PCL | 9,223 | ||||||||
| 166,432 | * | Alaska Air Group, Inc | 6,666 | |||||||
| 120,939 | e,g | ALD S.A. | 1,416 | |||||||
| 131,475 | * | All Nippon Airways Co Ltd | 2,429 | |||||||
| 93,372 | Allcargo Logistics Ltd | 311 | ||||||||
| 8,186 | * | Allegiant Travel Co | 926 | |||||||
| 7,922 | Amerco, Inc | 3,788 | ||||||||
| 582,206 | *,e | American Airlines Group, Inc | 7,382 | |||||||
| 634,771 | *,†,b,e | AMR Corporation | 6 | |||||||
| 450,000 | Anhui Expressway Co | 364 | ||||||||
| 4,397 | AP Moller - Maersk AS (Class A) | 10,205 | ||||||||
| 6,797 | AP Moller - Maersk AS (Class B) | 15,957 | ||||||||
| 438,932 | Aramex PJSC | 454 | ||||||||
| 15,020 | ArcBest Corp | 1,057 | ||||||||
| 3,686,500 | * | Asia Aviation PCL | 301 | |||||||
| 46,289 | * | Asiana Airlines | 560 | |||||||
| 23,103 | * | Atlas Air Worldwide Holdings, Inc | 1,426 | |||||||
| 1,116,707 | Atlas Arteria Ltd | 6,222 | ||||||||
| 289,943 | e | Atlas Corp | 3,105 | |||||||
| 705,812 | * | Auckland International Airport Ltd | 3,162 | |||||||
| 2,596,673 | Aurizon Holdings Ltd | 6,829 | ||||||||
| 518,813 | Autostrade S.p.A. | 12,179 | ||||||||
| 2,636 | * | Avis Budget Group, Inc | 388 | |||||||
| 346,700 | * | Azul S.A. | 820 | |||||||
| 641,900 | * | Bangkok Airways Co Ltd | 198 | |||||||
| 140,900 | * | Bangkok Aviation Fuel Services PCL | 115 | |||||||
| 7,603,762 | Bangkok Expressway & Metro PCL | 1,884 | ||||||||
| 1,532,810 | * | Beijing Capital International Airport Co Ltd | 1,046 | |||||||
| 1,825,679 | Beijing-Shanghai High Speed Railway Co Ltd | 1,371 | ||||||||
| 139,901 | *,e | Bird Global, Inc | 61 | |||||||
| 45,306 | * | Blade Air Mobility, Inc | 202 | |||||||
| 4,833 | Blue Dart Express Ltd | 478 | ||||||||
| 116,298 | e | bpost S.A. | 689 | |||||||
| 6,797,637 | BTS Group Holdings PCL | 1,645 | ||||||||
| 181 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 832,803 | Canadian National Railway Co | $ | 93,677 | |||||||
| 1,121,496 | Canadian Pacific Railway Ltd | 78,336 | ||||||||
| 10,214 | e | Cargojet, Inc | 1,131 | |||||||
| 58,960 | * | Cathay Pacific Airways Ltd | 65 | |||||||
| 218,200 | * | Cebu Air, Inc | 165 | |||||||
| 171,889 | Central Japan Railway Co | 19,756 | ||||||||
| 119,275 | CH Robinson Worldwide, Inc | 12,091 | ||||||||
| 1,863,000 | China Airlines | 1,476 | ||||||||
| 195,400 | * | China Eastern Airlines Corp Ltd | 161 | |||||||
| 1,018,667 | China Merchants Holdings International Co Ltd | 1,735 | ||||||||
| 1,172,447 | * | China Southern Airlines Co Ltd | 680 | |||||||
| 406,859 | * | China Southern Airlines Co Ltd (Class A) | 445 | |||||||
| 105,587 | *,e | Chorus Aviation, Inc | 268 | |||||||
| 1,380,772 | Cia de Concessoes Rodoviarias | 3,306 | ||||||||
| 90,023 | Cia de Distribucion Integral Logista Holdings SAU | 1,764 | ||||||||
| 396,500 | Cia de Locacao das Americas | 1,796 | ||||||||
| 31,687 | Clarkson plc | 1,157 | ||||||||
| 2,448,100 | ComfortDelgro Corp Ltd | 2,468 | ||||||||
| 18,106,369 | Compania SudAmericana de Vapores S.A. | 1,618 | ||||||||
| 324,340 | Container Corp Of India Ltd | 2,447 | ||||||||
| 953,800 | *,e | Controladora Vuela Cia de Aviacion SAB de C.V. | 982 | |||||||
| 26,921 | * | Copa Holdings S.A. (Class A) | 1,706 | |||||||
| 714,000 | Cosco International Holdings Ltd | 198 | ||||||||
| 1,375,536 | COSCO Pacific Ltd | 973 | ||||||||
| 921,015 | COSCO SHIPPING Holdings Co Ltd - A | 1,918 | ||||||||
| 3,995,809 | COSCO SHIPPING Holdings Co Ltd - H | 5,609 | ||||||||
| 112,719 | Costamare, Inc | 1,364 | ||||||||
| 10,402 | Covenant Transportation Group, Inc | 261 | ||||||||
| 3,151,174 | CSX Corp | 91,573 | ||||||||
| 107,636 | CTT-Correios de Portugal S.A. | 352 | ||||||||
| 27,401 | D/S Norden | 955 | ||||||||
| 2,400,300 | Dalian Port PDA Co Ltd | 610 | ||||||||
| 782,600 | Daqin Railway Co Ltd | 771 | ||||||||
| 7,061 | * | Daseke, Inc | 45 | |||||||
| 1,169,547 | *,n | Delta Air Lines, Inc | 33,882 | |||||||
| 890,355 | *,e | Deutsche Lufthansa AG. | 5,244 | |||||||
| 1,558,812 | Deutsche Post AG. | 58,855 | ||||||||
| 63,680 | Dfds A.S. | 1,940 | ||||||||
| 544,084 | DSV AS | 76,508 | ||||||||
| 11,199 | Eagle Bulk Shipping, Inc | 581 | ||||||||
| 356,738 | East Japan Railway Co | 18,247 | ||||||||
| 354,072 | * | easyJet plc | 1,590 | |||||||
| 278,300 | * | EcoRodovias Infraestrutura e Logistica S.A. | 303 | |||||||
| 327,373 | *,g | Enav S.p.A | 1,373 | |||||||
| 89,011 | Eneti, Inc | 546 | ||||||||
| 3,579,764 | *,g | Europcar Groupe S.A. | 1,899 | |||||||
| 1,726,000 | Eva Airways Corp | 1,842 | ||||||||
| 3,115,000 | Evergreen International Storage & Transport Corp | 2,988 | ||||||||
| 2,454,532 | Evergreen Marine Corp Taiwan Ltd | 6,976 | ||||||||
| 22,461 | e | Exchange Income Corp | 735 | |||||||
| 154,673 | Expeditors International of Washington, Inc | 15,074 | ||||||||
| 297,228 | FedEx Corp | 67,385 | ||||||||
| 182 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 803,131 | *,e | Finnair Oyj | $ | 346 | ||||||
| 876,622 | * | Firstgroup plc | 1,364 | |||||||
| 23,202 | * | Flughafen Zuerich AG. | 3,516 | |||||||
| 44,452 | Forward Air Corp | 4,088 | ||||||||
| 42,831 | * | Fraport AG. Frankfurt Airport Services Worldwide | 1,873 | |||||||
| 186,081 | *,e | Frontier Group Holdings, Inc | 1,744 | |||||||
| 26,160 | Fukuyama Transporting Co Ltd | 595 | ||||||||
| 221,657 | Genco Shipping & Trading Ltd | 4,282 | ||||||||
| 460,149 | Getlink S.E. | 8,161 | ||||||||
| 2,366,334 | * | GMR Infrastructure Ltd | 1,025 | |||||||
| 47,234 | * | Go-Ahead Group plc | 913 | |||||||
| 205,000 | * | Gol Linhas Aereas Inteligentes S.A. | 355 | |||||||
| 102,322 | Golden Ocean Group Ltd | 1,191 | ||||||||
| 411,159 | Golden Ocean Group Ltd | 4,862 | ||||||||
| 1,125,845 | *,e | Grab Holdings Ltd | 2,848 | |||||||
| 334,100 | e | Grupo Aeroportuario del Centro Norte Sab de C.V. | 2,137 | |||||||
| 404,849 | e | Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares) | 5,639 | |||||||
| 207,033 | e | Grupo Aeroportuario del Sureste S.A. de C.V. (Class B) | 4,069 | |||||||
| 323,200 | *,e,g | Grupo Traxion SAB de C.V. | 440 | |||||||
| 266,648 | Gujarat Pipavav Port Ltd | 260 | ||||||||
| 268,359 | Gulf Warehousing Co | 301 | ||||||||
| 166,345 | * | GXO Logistics, Inc | 7,198 | |||||||
| 233,000 | * | Hainan Meilan International Airport Co Ltd | 687 | |||||||
| 17,000 | Hamakyorex Co Ltd | 360 | ||||||||
| 34,783 | Hamburger Hafen und Logistik AG. | 494 | ||||||||
| 10,912 | Hanjin Transportation Co Ltd | 234 | ||||||||
| 208,111 | Hankyu Hanshin Holdings, Inc | 5,684 | ||||||||
| 43,000 | * | Hawaiian Holdings, Inc | 615 | |||||||
| 40,650 | Heartland Express, Inc | 565 | ||||||||
| 20,709 | * | Hertz Global Holdings, Inc | 328 | |||||||
| 2,180,354 | * | Hidrovias do Brasil S.A. | 941 | |||||||
| 48,925 | Hitachi Transport System Ltd | 3,092 | ||||||||
| 124,470 | * | Hub Group, Inc (Class A) | 8,830 | |||||||
| 10,804,551 | Hutchison Port Holdings Trust | 2,541 | ||||||||
| 21,547 | Hyundai Glovis Co Ltd | 2,995 | ||||||||
| 307,732 | Hyundai Merchant Marine Co Ltd | 5,859 | ||||||||
| 3,064 | * | ID Logistics Group | 851 | |||||||
| 266,938 | Iino Kaiun Kaisha Ltd | 1,348 | ||||||||
| 97,966 | *,g | InterGlobe Aviation Ltd | 2,005 | |||||||
| 1,153,069 | International Container Term Services, Inc | 3,861 | ||||||||
| 121,737 | * | Japan Airlines Co Ltd | 2,092 | |||||||
| 70,500 | * | Japan Airport Terminal Co Ltd | 2,801 | |||||||
| 2,513,700 | * | Jasa Marga Tbk PT | 598 | |||||||
| 102,728 | Jazeera Airways Co KSCP | 633 | ||||||||
| 24,553 | JB Hunt Transport Services, Inc | 3,866 | ||||||||
| 25,019 | * | Jeju Air Co Ltd | 311 | |||||||
| 188,220 | * | JET2 plc | 2,078 | |||||||
| 269,969 | * | JetBlue Airways Corp | 2,260 | |||||||
| 1,068,915 | * | Jiangsu Express | 1,078 | |||||||
| 29,077 | * | Jin Air Co Ltd | 311 | |||||||
| 60,699 | *,e | Joby Aviation, Inc | 298 | |||||||
| 78,905 | * | John Menzies plc | 573 | |||||||
| 183 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 117,300 | Kamigumi Co Ltd | $ | 2,268 | |||||||
| 60,888 | e | Kawasaki Kisen Kaisha Ltd | 3,726 | |||||||
| 256,100 | Keihin Electric Express Railway Co Ltd | 2,806 | ||||||||
| 91,193 | Keio Corp | 3,271 | ||||||||
| 112,402 | Keisei Electric Railway Co Ltd | 3,104 | ||||||||
| 153,850 | Kelsian Group Ltd | 606 | ||||||||
| 601,700 | Kerry Express Thailand PCL | 387 | ||||||||
| 417,509 | Kerry Logistics Network Ltd | 898 | ||||||||
| 174,525 | Kintetsu Corp | 5,430 | ||||||||
| 42,000 | Kintetsu World Express, Inc | 1,288 | ||||||||
| 204,807 | * | Kirby Corp | 12,460 | |||||||
| 481,020 | Knight-Swift Transportation Holdings, Inc | 22,266 | ||||||||
| 26,268 | Konoike Transport Co Ltd | 246 | ||||||||
| 11,108 | * | Korea Express Co Ltd | 979 | |||||||
| 836,172 | * | Korea Line Corp | 1,691 | |||||||
| 122,908 | * | Korean Air Lines Co Ltd | 2,397 | |||||||
| 69,208 | Kuehne & Nagel International AG. | 16,444 | ||||||||
| 154,000 | Kyushu Railway Co | 3,211 | ||||||||
| 6,249 | Landstar System, Inc | 909 | ||||||||
| 661,317 | Localiza Rent A Car | 6,623 | ||||||||
| 78,333 | Lotte Rental Co Ltd | 2,308 | ||||||||
| 283,287 | * | Lyft, Inc (Class A) | 3,762 | |||||||
| 35,500 | g | Mahindra Logistics Ltd | 213 | |||||||
| 911,054 | * | Malaysia Airports Holdings BHD | 1,364 | |||||||
| 62,340 | Marten Transport Ltd | 1,048 | ||||||||
| 45,250 | Maruwa Unyu Kikan Co Ltd | 447 | ||||||||
| 29,530 | Maruzen Showa Unyu Co Ltd | 664 | ||||||||
| 33,446 | Matson, Inc | 2,437 | ||||||||
| 1,802,740 | MISC BHD | 2,905 | ||||||||
| 62,728 | Mitsubishi Logistics Corp | 1,503 | ||||||||
| 225,900 | Mitsui OSK Lines Ltd | 5,197 | ||||||||
| 47,114 | Mitsui-Soko Co Ltd | 1,000 | ||||||||
| 177,500 | Movida Participacoes S.A. | 443 | ||||||||
| 1,096,259 | e | MPC Container Ships AS. | 2,187 | |||||||
| 1,576,863 | MTR Corp | 8,267 | ||||||||
| 109,975 | Mullen Group Ltd | 965 | ||||||||
| 216,800 | Nagoya Railroad Co Ltd | 3,343 | ||||||||
| 118,527 | Nankai Electric Railway Co Ltd | 2,353 | ||||||||
| 607,601 | * | National Express Group plc | 1,443 | |||||||
| 75,226 | Nippon Express Holdings, Inc | 4,098 | ||||||||
| 100,849 | Nippon Konpo Unyu Soko Co Ltd | 1,599 | ||||||||
| 106,866 | Nippon Yusen Kabushiki Kaisha | 7,327 | ||||||||
| 68,700 | Nishi-Nippon Railroad Co Ltd | 1,473 | ||||||||
| 22,539 | Norfolk Southern Corp | 5,123 | ||||||||
| 759,642 | * | Norwegian Air Shuttle AS | 635 | |||||||
| 9,273 | * | NTG Nordic Transport Group A.S. | 331 | |||||||
| 264,994 | Odakyu Electric Railway Co Ltd | 3,575 | ||||||||
| 40,496 | e | Oesterreichische Post AG. | 1,158 | |||||||
| 100,424 | Old Dominion Freight Line | 25,737 | ||||||||
| 156,500 | Orient Overseas International Ltd | 4,170 | ||||||||
| 5,704,290 | Pacific Basin Shipping Ltd | 2,193 | ||||||||
| 1,025 | * | PAM Transportation Services, Inc | 28 | |||||||
| 184 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 189,831 | Pan Ocean Co Ltd | $ | 872 | |||||||
| 46,636 | * | Pegasus Hava Tasimaciligi AS. | 479 | |||||||
| 1,073,400 | Precious Shipping PCL | 561 | ||||||||
| 241,292 | e | Promotora y Operadora de Infraestructura SAB de C.V. | 1,768 | |||||||
| 1,004,464 | * | Qantas Airways Ltd | 3,109 | |||||||
| 616,888 | Qatar Navigation QSC | 1,423 | ||||||||
| 3,734,688 | Qube Logistics Holdings Ltd | 7,044 | ||||||||
| 181,753 | * | Radiant Logistics, Inc | 1,349 | |||||||
| 272,444 | Redde Northgate plc | 1,119 | ||||||||
| 2,466,200 | Regional Container Lines PCL | 2,695 | ||||||||
| 905,627 | Royal Mail plc | 2,992 | ||||||||
| 1,414,946 | Rumo S.A. | 4,318 | ||||||||
| 30,229 | Ryder System, Inc | 2,148 | ||||||||
| 62,399 | Safe Bulkers, Inc | 238 | ||||||||
| 91,197 | Sagami Railway Co Ltd | 1,577 | ||||||||
| 26,758 | * | Saia, Inc | 5,030 | |||||||
| 96 | *,† | SAir Group | 0 | ^ | ||||||
| 11,870 | Sakai Moving Service Co Ltd | 397 | ||||||||
| 152,150 | Sankyu, Inc | 4,380 | ||||||||
| 583,900 | Santos Brasil Participacoes S.A. | 727 | ||||||||
| 149 | *,e | SAS AB | 0 | ^ | ||||||
| 112,379 | * | Saudi Ground Services Co | 794 | |||||||
| 49,548 | Saudi Industrial Services Co | 271 | ||||||||
| 75,977 | * | Saudi Public Transport Co | 311 | |||||||
| 44,604 | SBS Holdings, Inc | 895 | ||||||||
| 146,000 | Schneider National, Inc | 3,267 | ||||||||
| 264,300 | Seibu Holdings, Inc | 2,785 | ||||||||
| 146,906 | Seino Holdings Corp | 1,177 | ||||||||
| 114,796 | Senko Co Ltd | 744 | ||||||||
| 216,439 | SF Holding Co Ltd | 1,808 | ||||||||
| 249,190 | SG Holdings Co Ltd | 4,214 | ||||||||
| 53,196 | * | Shanghai International Airport Co Ltd | 452 | |||||||
| 530,760 | Shanghai International Port Group Co Ltd | 463 | ||||||||
| 1,120,902 | Shenzhen International Holdings Ltd | 1,105 | ||||||||
| 4,827 | Shenzhen Investment Holdings Bay Area Development Co Ltd | 1 | ||||||||
| 91,160 | Shinwa Kaiun Kaisha Ltd | 2,484 | ||||||||
| 173,419 | Shipping Corp of India Ltd | 215 | ||||||||
| 333,300 | * | SIA Engineering Co Ltd | 585 | |||||||
| 974,000 | Sichuan Expressway Co Ltd | 246 | ||||||||
| 387,400 | SIMPAR S.A. | 687 | ||||||||
| 3,060,000 | Sincere Navigation | 2,100 | ||||||||
| 1,387,850 | *,e | Singapore Airlines Ltd | 5,100 | |||||||
| 769,400 | * | Singapore Airport Terminal Services Ltd | 2,159 | |||||||
| 1,892,819 | Singapore Post Ltd | 886 | ||||||||
| 108,347 | Sinotrans Ltd (Class A) | 63 | ||||||||
| 2,241,000 | SITC International Co Ltd | 6,374 | ||||||||
| 15,694 | Sixt AG. | 1,618 | ||||||||
| 22,081 | Sixt AG. (Preference) | 1,386 | ||||||||
| 81,932 | * | Skywest, Inc | 1,741 | |||||||
| 524,969 | * | Southwest Airlines Co | 18,962 | |||||||
| 397,923 | * | SpiceJet Ltd | 193 | |||||||
| 90,157 | * | Spirit Airlines, Inc | 2,149 | |||||||
| 185 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 21,215 | Stolt-Nielsen S.A. | $ | 450 | |||||||
| 60,783 | Sumitomo Warehouse Co Ltd | 900 | ||||||||
| 5,131 | * | Sun Country Airlines Holdings, Inc | 94 | |||||||
| 222,000 | T.Join Transportation Co | 300 | ||||||||
| 126,000 | T3EX Global Holdings Corp | 365 | ||||||||
| 2,122,501 | Taiwan High Speed Rail Corp | 2,003 | ||||||||
| 213,160 | * | TAV Havalimanlari Holding AS | 634 | |||||||
| 14,214 | TCI Express Ltd | 288 | ||||||||
| 99,902 | TFI International, Inc | 8,020 | ||||||||
| 24,102 | Theeb Rent A Car Co | 393 | ||||||||
| 2,866,000 | Tianjin Port Development Holdings Ltd | 239 | ||||||||
| 413,655 | TNT NV | 1,253 | ||||||||
| 157,743 | Tobu Railway Co Ltd | 3,601 | ||||||||
| 478,018 | Tokyu Corp | 5,642 | ||||||||
| 5,648,600 | *,† | Trada Alam Minera Tbk PT | 0 | ^ | ||||||
| 8,207 | Trancom Co Ltd | 413 | ||||||||
| 1,175,400 | * | Transcoal Pacific Tbk PT | 832 | |||||||
| 26,549 | * | Transport Corp of India Ltd | 228 | |||||||
| 3,205,179 | Transurban Group | 31,889 | ||||||||
| 636,119 | * | Turk Hava Yollari | 1,784 | |||||||
| 117,167 | *,e | TuSimple Holdings, Inc | 847 | |||||||
| 2,728,404 | * | Uber Technologies, Inc | 55,823 | |||||||
| 511,000 | U-Ming Marine Transport Corp | 706 | ||||||||
| 2,222,347 | Union Pacific Corp | 473,982 | ||||||||
| 285,533 | * | United Airlines Holdings Inc | 10,114 | |||||||
| 41,733 | United International Transportation Co | 501 | ||||||||
| 1,185,854 | United Parcel Service, Inc (Class B) | 216,466 | ||||||||
| 2,979 | Universal Logistics Holdings Inc | 81 | ||||||||
| 338,000 | Vamos Locacao de Caminhoes Maquinas e Equipamentos S.A. | 756 | ||||||||
| 67,336 | *,† | Virgin Australia Int Holdings | 0 | ^ | ||||||
| 125,777 | Wallenius Wilhelmsen ASA | 683 | ||||||||
| 429,000 | Wan Hai Lines Ltd | 1,715 | ||||||||
| 65,999 | Werner Enterprises, Inc | 2,544 | ||||||||
| 192,623 | West Japan Railway Co | 7,086 | ||||||||
| 49,476 | e | Westshore Terminals Investment Corp | 1,228 | |||||||
| 545,652 | * | Wheels Up Experience, Inc | 1,064 | |||||||
| 224,800 | Wilson Sons Holdings Brasil S.A. | 335 | ||||||||
| 142,149 | * | Wincanton plc | 603 | |||||||
| 1,388,000 | Wisdom Marine Lines Co Ltd | 3,031 | ||||||||
| 168,790 | * | XPO Logistics, Inc | 8,129 | |||||||
| 310,821 | Yamato Transport Co Ltd | 4,974 | ||||||||
| 1,701,000 | Yang Ming Marine Transport | 4,705 | ||||||||
| 3 | * | Yellow Corp | 0 | ^ | ||||||
| 150,459 | YTO Express Group Co Ltd | 458 | ||||||||
| 1,184,000 | Yuexiu Transport Infrastructure Ltd | 684 | ||||||||
| 152,615 | Yunda Holding Co Ltd | 390 | ||||||||
| 1,078,968 | Zhejiang Expressway Co Ltd | 994 | ||||||||
| 87,841 | e | ZIM Integrated Shipping Services Ltd | 4,149 | |||||||
| 690,538 | ZTO Express Cayman, Inc (ADR) | 18,955 | ||||||||
| TOTAL TRANSPORTATION | 2,058,116 | |||||||||
| 186 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| UTILITIES - 2.8% | ||||||||||
| 1,802,418 | A2A S.p.A. | $ | 2,294 | |||||||
| 1,589,000 | Absolute Clean Energy PCL | 127 | ||||||||
| 9,598,591 | AC Energy Corp | 1,405 | ||||||||
| 25,836 | e | Acciona S.A. | 4,760 | |||||||
| 89,339 | ACEA S.p.A. | 1,324 | ||||||||
| 90,934 | * | ACWA Power Co | 3,628 | |||||||
| 310,264 | * | Adani Gas Ltd | 9,422 | |||||||
| 349,193 | * | Adani Green Energy Ltd | 8,575 | |||||||
| 884,385 | * | Adani Power Ltd | 2,971 | |||||||
| 308,380 | * | Adani Transmissions Ltd | 9,707 | |||||||
| 279,400 | AES Brasil Energia S.A. | 569 | ||||||||
| 401,860 | AES Corp | 8,443 | ||||||||
| 348,364 | *,† | AET&D Holdings No 1 Ptd Ltd | 0 | ^ | ||||||
| 767,375 | AGL Energy Ltd | 4,387 | ||||||||
| 3,550,984 | Aguas Andinas S.A. | 571 | ||||||||
| 376,694 | * | Aksa Enerji Uretim AS | 545 | |||||||
| 801,015 | e | Algonquin Power & Utilities Corp | 10,766 | |||||||
| 10,925 | AlKhorayef Water & Power Technologies Co | 332 | ||||||||
| 47,586 | Allete, Inc | 2,797 | ||||||||
| 2,041,790 | Alliant Energy Corp | 119,669 | ||||||||
| 333,846 | AltaGas Ltd | 7,044 | ||||||||
| 24,852 | *,e | Altus Power, Inc | 157 | |||||||
| 165,200 | Alupar Investimento S.A. | 819 | ||||||||
| 1,960,376 | Ameren Corp | 177,140 | ||||||||
| 2,453,183 | American Electric Power Co, Inc | 235,358 | ||||||||
| 19,254 | American States Water Co | 1,569 | ||||||||
| 46,222 | American Water Works Co, Inc | 6,876 | ||||||||
| 1,296,592 | APA Group | 10,098 | ||||||||
| 3,397 | Artesian Resources Corp | 167 | ||||||||
| 66,898 | Ascopiave S.p.A. | 203 | ||||||||
| 125,442 | Atco Ltd | 4,298 | ||||||||
| 48,774 | Athens Water Supply & Sewage Co S.A. | 369 | ||||||||
| 34,536 | Atmos Energy Corp | 3,871 | ||||||||
| 341,818 | Auren Energia S.A. | 890 | ||||||||
| 16,007 | e | Avangrid, Inc | 738 | |||||||
| 59,425 | Avista Corp | 2,586 | ||||||||
| 834,030 | B Grimm Power PCL | 827 | ||||||||
| 708,200 | Banpu Power PCL | 286 | ||||||||
| 1,501,900 | BCPG PCL | 464 | ||||||||
| 10,220,000 | * | Beijing Energy International Holding Co Ltd | 317 | |||||||
| 446,179 | Beijing Enterprises Holdings Ltd | 1,586 | ||||||||
| 3,358,586 | Beijing Enterprises Water Group Ltd | 1,013 | ||||||||
| 4,776,000 | *,† | Beijing Gas Blue Sky Holdings Ltd | 6 | |||||||
| 1,674,000 | * | Beijing Jingneng Clean Energy Co Ltd | 384 | |||||||
| 24,286 | BKW S.A. | 2,541 | ||||||||
| 334,653 | Black Hills Corp | 24,353 | ||||||||
| 108,168 | e | Boralex, Inc | 3,603 | |||||||
| 115,698 | e | Brookfield Infrastructure Corp | 4,910 | |||||||
| 17,884 | e | Brookfield Infrastructure Corp | 760 | |||||||
| 112,747 | Brookfield Renewable Corp | 4,015 | ||||||||
| 153,489 | e | Brookfield Renewable Corp | 5,467 | |||||||
| 187 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 35,359 | California Water Service Group | $ | 1,964 | |||||||
| 152,739 | Canadian Utilities Ltd | 4,555 | ||||||||
| 712,000 | Canvest Environment Protection Group Co Ltd | 370 | ||||||||
| 255,171 | Capital Power Corp | 8,923 | ||||||||
| 139,495 | Capital Stage AG. | 2,563 | ||||||||
| 262,200 | CECEP Solar Energy Co Ltd | 327 | ||||||||
| 435,700 | CECEP Wind-Power Corp | 313 | ||||||||
| 3,578,902 | Centerpoint Energy, Inc | 105,864 | ||||||||
| 1,174,751 | Centrais Eletricas Brasileiras S.A. | 10,370 | ||||||||
| 301,839 | Centrais Eletricas Brasileiras S.A. (Preference) | 2,693 | ||||||||
| 6,879,840 | * | Centrica plc | 6,718 | |||||||
| 705,899 | CESC Ltd | 638 | ||||||||
| 183,609 | CEZ AS | 8,285 | ||||||||
| 910,000 | e | CGN New Energy Holdings Co Ltd | 429 | |||||||
| 3,613,000 | g | CGN Power Co Ltd | 875 | |||||||
| 22,156 | Chesapeake Utilities Corp | 2,870 | ||||||||
| 2,770,000 | China Datang Corp Renewable Power Co Ltd | 942 | ||||||||
| 931,000 | e,g | China Everbright Greentech Ltd | 256 | |||||||
| 1,091,113 | e | China Everbright Water Ltd | 228 | |||||||
| 2,231,965 | China Gas Holdings Ltd | 3,455 | ||||||||
| 2,431,044 | China Longyuan Power Group Corp | 4,711 | ||||||||
| 562,900 | China National Nuclear Power Co Ltd | 578 | ||||||||
| 3,903,847 | China Power International Development Ltd | 2,481 | ||||||||
| 673,312 | China Resources Gas Group Ltd | 3,139 | ||||||||
| 1,374,373 | China Resources Power Holdings Co | 2,839 | ||||||||
| 1,994,500 | China Three Gorges Renewables Group Co Ltd | 1,876 | ||||||||
| 934,000 | China Water Affairs Group Ltd | 870 | ||||||||
| 536,101 | China Yangtze Power Co Ltd | 1,853 | ||||||||
| 614,846 | Chubu Electric Power Co, Inc | 6,191 | ||||||||
| 312,100 | Chugoku Electric Power Co, Inc | 2,009 | ||||||||
| 394,901 | Cia de Saneamento Basico do Estado de Sao Paulo | 3,182 | ||||||||
| 1,192,000 | Cia de Saneamento de Minas Gerais-COPASA | 2,624 | ||||||||
| 161,200 | Cia de Saneamento do Parana | 562 | ||||||||
| 485,000 | Cia de Saneamento do Parana (Preference) | 348 | ||||||||
| 1,666,956 | Cia Energetica de Minas Gerais | 3,306 | ||||||||
| 14,700 | Cia Energetica do Ceara | 139 | ||||||||
| 982,000 | Cia Paranaense de Energia | 1,282 | ||||||||
| 205,100 | Cia Paranaense de Energia | 250 | ||||||||
| 80,600 | Cia Paranaense de Energia | 515 | ||||||||
| 691,723 | CK Infrastructure Holdings Ltd | 4,249 | ||||||||
| 1,921,700 | CK Power PCL | 302 | ||||||||
| 167,845 | Clearway Energy, Inc (Class A) | 5,366 | ||||||||
| 243,570 | Clearway Energy, Inc (Class C) | 8,486 | ||||||||
| 1,819,817 | CLP Holdings Ltd | 15,123 | ||||||||
| 101,281 | CMS Energy Corp | 6,836 | ||||||||
| 9,431,808 | Colbun S.A. | 653 | ||||||||
| 9,100,000 | * | Concord New Energy Group Ltd | 905 | |||||||
| 152,370 | Consolidated Edison, Inc | 14,490 | ||||||||
| 342,928 | Constellation Energy Corp | 19,636 | ||||||||
| 901,488 | Contact Energy Ltd | 4,093 | ||||||||
| 255,005 | g | ContourGlobal plc | 784 | |||||||
| 267,300 | CPFL Energia S.A. | 1,577 | ||||||||
| 188 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,320,000 | *,†,e | CT Environmental Group Ltd | $ | 2 | ||||||
| 5,801 | Daesung Holdings Co Ltd | 330 | ||||||||
| 1,475,880 | Dominion Energy, Inc | 117,790 | ||||||||
| 74,509 | * | Doral Group Renewable Energy Resources Ltd | 268 | |||||||
| 396,056 | Drax Group plc | 3,109 | ||||||||
| 49,002 | DTE Energy Co | 6,211 | ||||||||
| 330,409 | Duke Energy Corp | 35,423 | ||||||||
| 2,123,776 | E.ON AG. | 17,889 | ||||||||
| 162,354 | Edison International | 10,267 | ||||||||
| 493,400 | EDP - Energias do Brasil S.A. | 1,934 | ||||||||
| 301,551 | EDP Renovaveis S.A. | 7,123 | ||||||||
| 274,800 | Electric Power Development Co | 4,543 | ||||||||
| 611,347 | e | Electricite de France | 5,022 | |||||||
| 348,417 | Electricity Generating PCL | 1,741 | ||||||||
| 34,222 | e | Elia System Operator S.A. | 4,860 | |||||||
| 311,405 | Emera, Inc | 14,588 | ||||||||
| 35,640 | e | Enagas | 788 | |||||||
| 181,102 | e | Endesa S.A. | 3,426 | |||||||
| 592,669 | * | Enea S.A. | 1,292 | |||||||
| 34,921,167 | Enel Chile S.A. | 790 | ||||||||
| 13,659,699 | Enel S.p.A. | 74,913 | ||||||||
| 2,512,164 | Energias de Portugal S.A. | 11,708 | ||||||||
| 215,533 | Energisa S.A. | 1,662 | ||||||||
| 261,918 | Energix-Renewable Energies Ltd | 798 | ||||||||
| 1,809,144 | Energy Absolute PCL | 4,193 | ||||||||
| 306,050 | g | Enerjisa Enerji AS. | 250 | |||||||
| 25,239,138 | Enersis S.A. | 2,396 | ||||||||
| 1,201,400 | * | Eneva S.A. | 3,391 | |||||||
| 216,348 | Engie Brasil Energia S.A. | 1,707 | ||||||||
| 619,651 | Engie Energia Chile S.A. | 241 | ||||||||
| 2,609,887 | Engie S.A. | 30,220 | ||||||||
| 1,098,065 | * | Enlight Renewable Energy Ltd | 2,102 | |||||||
| 568,935 | ENN Energy Holdings Ltd | 9,404 | ||||||||
| 157,900 | ENN Natural Gas Co Ltd | 439 | ||||||||
| 88,543 | Entergy Corp | 9,973 | ||||||||
| 1,076,719 | Equatorial Energia S.A. | 4,699 | ||||||||
| 34,143 | eRex Co Ltd | 553 | ||||||||
| 69,646 | ERG S.p.A. | 2,171 | ||||||||
| 130,153 | Essential Utilities Inc | 5,968 | ||||||||
| 233,294 | Evergy, Inc | 15,222 | ||||||||
| 154,235 | Eversource Energy | 13,028 | ||||||||
| 58,127 | EVN AG. | 1,238 | ||||||||
| 1,002,477 | Exelon Corp | 45,432 | ||||||||
| 5,629 | *,e | Fastned BV | 151 | |||||||
| 139,964 | e | Fersa Energias Renovables S.A. | 167 | |||||||
| 1,898,075 | FirstEnergy Corp | 72,867 | ||||||||
| 563,759 | Fortis, Inc | 26,651 | ||||||||
| 268,444 | Fortum Oyj | 4,057 | ||||||||
| 1,837,585 | GAIL India Ltd | 3,154 | ||||||||
| 22,138,000 | *,e | GCL New Energy Holdings Ltd | 570 | |||||||
| 1,091,700 | GD Power Development Co Ltd | 639 | ||||||||
| 632,109 | Genesis Energy Ltd | 1,045 | ||||||||
| 189 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 779,257 | Global Power Synergy Co Ltd | $ | 1,424 | |||||||
| 2,962 | Global Water Resources, Inc | 39 | ||||||||
| 254,632 | *,e | Greenvolt-Energias Renovaveis S.A. | 1,959 | |||||||
| 13,515 | *,e | Grenergy Renovables S.A. | 483 | |||||||
| 2,125,210 | Guangdong Investments Ltd | 2,246 | ||||||||
| 208,994 | Gujarat Gas Ltd | 1,111 | ||||||||
| 351,259 | Gujarat State Petronet Ltd | 973 | ||||||||
| 3,207,827 | Gulf Energy Development PCL | 4,196 | ||||||||
| 4,585,500 | Gunkul Engineering PCL | 735 | ||||||||
| 26,846 | Hawaiian Electric Industries, Inc | 1,098 | ||||||||
| 1,026,557 | e | Hera S.p.A. | 2,975 | |||||||
| 2,775,000 | HK Electric Investments & HK Electric Investments Ltd | 2,546 | ||||||||
| 199,193 | Hokkaido Electric Power Co, Inc | 727 | ||||||||
| 208,877 | Hokuriku Electric Power Co | 820 | ||||||||
| 140,104 | Holding CO ADMIE IPTO S.A. | 275 | ||||||||
| 12,354,979 | Hong Kong & China Gas Ltd | 13,334 | ||||||||
| 1,527,938 | Hong Kong Electric Holdings Ltd | 9,626 | ||||||||
| 425,919 | Huadian Power International Corp Ltd (Class A) | 250 | ||||||||
| 428,766 | Huaneng Power International, Inc - A | 452 | ||||||||
| 3,140,751 | Huaneng Power International, Inc - H | 1,564 | ||||||||
| 392,125 | g | Hydro One Ltd | 10,543 | |||||||
| 7,782,427 | Iberdrola S.A. | 81,026 | ||||||||
| 12,473 | Idacorp, Inc | 1,321 | ||||||||
| 396,496 | * | Indiabulls Infrastructure and Power Ltd | 214 | |||||||
| 371,920 | Indraprastha Gas Ltd | 1,680 | ||||||||
| 835,641 | Infratil Ltd | 4,003 | ||||||||
| 164,938 | e | Innergex Renewable Energy, Inc | 2,217 | |||||||
| 1,027,900 | *,† | Inter Far East Energy Corp | 0 | ^ | ||||||
| 511,508 | Interconexion Electrica S.A. | 2,526 | ||||||||
| 478,545 | Inversiones Aguas Metropolitanas S.A. | 167 | ||||||||
| 1,216,778 | * | Iride S.p.A. | 2,662 | |||||||
| 562,512 | Italgas S.p.A | 3,282 | ||||||||
| 8,543,904 | * | Jaiprakash Power Ventures Ltd | 702 | |||||||
| 243,000 | Jiangsu Eastern Shenghong Co Ltd | 616 | ||||||||
| 813,428 | Kansai Electric Power Co, Inc | 8,052 | ||||||||
| 21,789 | Kenon Holdings Ltd | 880 | ||||||||
| 4,263,093 | Keppel Infrastructure Trust | 1,751 | ||||||||
| 182,944 | Korea Electric Power Corp | 3,190 | ||||||||
| 968,700 | Kyushu Electric Power Co, Inc | 6,228 | ||||||||
| 310,066 | Light S.A. | 342 | ||||||||
| 7 | e | Macquarie Infrastructure Co LLC | 0 | ^ | ||||||
| 67,505 | Mahanagar Gas Ltd | 651 | ||||||||
| 1,897,600 | Malakoff Corp BHD | 272 | ||||||||
| 272,742 | Manila Electric Co | 1,786 | ||||||||
| 1,345,400 | Manila Water Co, Inc | 410 | ||||||||
| 658,000 | Mega First Corp BHD | 521 | ||||||||
| 721,120 | Mercury NZ Ltd | 2,539 | ||||||||
| 1,350,628 | Meridian Energy Ltd | 3,941 | ||||||||
| 33,010 | MGE Energy, Inc | 2,569 | ||||||||
| 3,124 | Middlesex Water Co | 274 | ||||||||
| 80,909 | * | Montauk Renewables, Inc | 813 | |||||||
| 19,677 | National Fuel Gas Co | 1,300 | ||||||||
| 190 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 41,943 | National Gas & Industrialization Co | $ | 475 | |||||||
| 5,029,024 | National Grid plc | 64,628 | ||||||||
| 95,394 | e | Naturgy Energy Group S.A. | 2,756 | |||||||
| 56,118 | e,g | Neoen S.A. | 2,115 | |||||||
| 75,296 | New Jersey Resources Corp | 3,353 | ||||||||
| 5,387,188 | NextEra Energy, Inc | 417,292 | ||||||||
| 123,887 | Nippon Gas Co Ltd | 1,764 | ||||||||
| 106,579 | NiSource, Inc | 3,143 | ||||||||
| 270,056 | Northland Power Income Fund | 8,040 | ||||||||
| 160,224 | Northwest Natural Holding Co | 8,508 | ||||||||
| 45,106 | NorthWestern Corp | 2,658 | ||||||||
| 185,576 | NRG Energy, Inc | 7,083 | ||||||||
| 4,565,127 | NTPC Ltd | 8,272 | ||||||||
| 208,010 | OGE Energy Corp | 8,021 | ||||||||
| 42,001 | Okinawa Electric Power Co, Inc | 406 | ||||||||
| 353,700 | * | Omega Energia S.A. | 811 | |||||||
| 71,157 | ONE Gas, Inc | 5,777 | ||||||||
| 105,328 | * | OPC Energy Ltd | 1,038 | |||||||
| 1,839,847 | Origin Energy Ltd | 7,303 | ||||||||
| 21,311 | e | Ormat Technologies, Inc | 1,670 | |||||||
| 209,039 | g | Orsted AS | 22,017 | |||||||
| 247,634 | Osaka Gas Co Ltd | 4,746 | ||||||||
| 37,518 | Otter Tail Corp | 2,519 | ||||||||
| 17,353 | * | OY Nofar Energy Ltd | 431 | |||||||
| 330,076 | Pennon Group plc | 3,841 | ||||||||
| 1,000,978 | Petronas Gas BHD | 3,732 | ||||||||
| 1,429,633 | *,b | PG&E Corp | 14,268 | |||||||
| 1,074,884 | * | PGE Polska Grupa Energetyczna S.A. | 2,566 | |||||||
| 30,355 | Pinnacle West Capital Corp | 2,220 | ||||||||
| 71,269 | PNM Resources, Inc | 3,405 | ||||||||
| 74,645 | Portland General Electric Co | 3,608 | ||||||||
| 3,657,223 | Power Grid Corp of India Ltd | 9,843 | ||||||||
| 188,575 | PPL Corp | 5,116 | ||||||||
| 13,318,000 | PT Perusahaan Gas Negara Persero Tbk | 1,424 | ||||||||
| 224,078 | * | Public Power Corp | 1,242 | |||||||
| 411,155 | Public Service Enterprise Group, Inc | 26,018 | ||||||||
| 31,374 | * | Pure Cycle Corp | 331 | |||||||
| 527,438 | Qatar Electricity & Water Co | 2,537 | ||||||||
| 1,051,940 | Ratch Group PCL | 1,138 | ||||||||
| 58,199 | e | Red Electrica Corp S.A. | 1,102 | |||||||
| 428,883 | Redes Energeticas Nacionais S.A. | 1,291 | ||||||||
| 6,052,275 | * | Reliance Power Ltd | 888 | |||||||
| 42,800 | *,e | RENOVA, Inc | 772 | |||||||
| 109,373 | Rubis S.C.A | 2,572 | ||||||||
| 2,338,858 | RWE AG. | 86,505 | ||||||||
| 25,000 | Saibu Gas Co Ltd | 349 | ||||||||
| 7,211 | Sam Kwang Glass Ind Co Ltd | 203 | ||||||||
| 988,530 | Saudi Electricity Co | 6,395 | ||||||||
| 144,065 | g | Scatec Solar ASA | 1,253 | |||||||
| 1,054,366 | Scottish & Southern Energy plc | 20,808 | ||||||||
| 363,612 | SDIC Power Holdings Co Ltd | 571 | ||||||||
| 34,265 | Sechilienne-Sidec | 1,790 | ||||||||
| 191 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,138,778 | SembCorp Industries Ltd | $ | 2,337 | |||||||
| 336,316 | Sempra Energy | 50,538 | ||||||||
| 35,087 | Severn Trent plc | 1,165 | ||||||||
| 659,476 | Shamal Az-Zour Al-Oula for the First Phase of Az-Zour Power Plant KSC | 445 | ||||||||
| 184,088 | Shenzhen Energy Group Co Ltd | 177 | ||||||||
| 300,042 | Shikoku Electric Power Co, Inc | 1,755 | ||||||||
| 62,410 | e | Shizuoka Gas Co Ltd | 418 | |||||||
| 196,400 | Sichuan Chuantou Energy Co Ltd | 350 | ||||||||
| 22,007 | SJW Corp | 1,373 | ||||||||
| 283,256 | Snam Rete Gas S.p.A. | 1,486 | ||||||||
| 87,477 | * | Solaria Energia y Medio Ambiente S.A. | 1,864 | |||||||
| 128,000 | *,† | Sound Global Ltd | 0 | ^ | ||||||
| 275,942 | South Jersey Industries, Inc | 9,421 | ||||||||
| 268,411 | Southern Co | 19,140 | ||||||||
| 102,380 | Southwest Gas Holdings Inc | 8,915 | ||||||||
| 546,600 | SPCG PCL | 245 | ||||||||
| 231,518 | Spire, Inc | 17,218 | ||||||||
| 149,869 | *,e | Sunnova Energy International, Inc | 2,762 | |||||||
| 19,180,500 | Super Energy Corp PCL (Foreign) | 407 | ||||||||
| 469,385 | e | Superior Plus Corp | 4,142 | |||||||
| 1,519,100 | Synergy Grid & Development Phils, Inc | 336 | ||||||||
| 404,000 | Taiwan Cogeneration Corp | 510 | ||||||||
| 1,672,640 | Tata Power Co Ltd | 4,302 | ||||||||
| 1,274,393 | * | Tauron Polska Energia S.A. | 983 | |||||||
| 75,699 | Telecom Plus plc | 1,806 | ||||||||
| 3,075,904 | Tenaga Nasional BHD | 5,569 | ||||||||
| 66,135 | Terna Energy S.A. | 1,197 | ||||||||
| 1,406,562 | Terna Rete Elettrica Nazionale S.p.A. | 11,059 | ||||||||
| 88,000 | Toho Gas Co Ltd | 2,126 | ||||||||
| 627,000 | Tohoku Electric Power Co, Inc | 3,365 | ||||||||
| 1,092,096 | * | Tokyo Electric Power Co, Inc | 4,568 | |||||||
| 1,462,242 | Tokyo Gas Co Ltd | 30,304 | ||||||||
| 200,287 | Torrent Power Ltd | 1,149 | ||||||||
| 1,317,000 | Towngas China Co Ltd | 702 | ||||||||
| 2,941,400 | TPI Polene Power PCL | 300 | ||||||||
| 542,088 | e | TransAlta Corp | 6,187 | |||||||
| 126,030 | e | TransAlta Renewables, Inc | 1,611 | |||||||
| 244,600 | Transmissora Alianca de Energia Eletrica S.A. | 1,805 | ||||||||
| 1,580,000 | TTW PCL | 474 | ||||||||
| 51,297 | UGI Corp | 1,981 | ||||||||
| 93,241 | Uniper SE | 1,393 | ||||||||
| 95,723 | United Utilities Group plc | 1,192 | ||||||||
| 32,224 | Unitil Corp | 1,892 | ||||||||
| 733,414 | * | Veolia Environnement | 17,978 | |||||||
| 75,086 | Verbund AG. | 7,381 | ||||||||
| 19,554 | e | Via Renewables, Inc | 150 | |||||||
| 492,811 | Vistra Energy Corp | 11,261 | ||||||||
| 33,214 | *,e | Voltalia S.A. | 665 | |||||||
| 661,140 | WEC Energy Group, Inc | 66,537 | ||||||||
| 27,730 | e | West Holdings Corp | 744 | |||||||
| 1,348,800 | WHA Utilities and Power PCL | 147 | ||||||||
| 1,968,002 | e | Xcel Energy, Inc | 139,256 | |||||||
| 192 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 2,357 | York Water Co | $ | 95 | |||||||
| 6,847,100 | YTL Corp BHD | 909 | ||||||||
| 2,507,500 | YTL Power International BHD | 390 | ||||||||
| 1 | * | Zorlu Enerji Elektrik Uretim AS | 0 | ^ | ||||||
| TOTAL UTILITIES | 3,005,712 | |||||||||
| TOTAL COMMON STOCKS | 104,711,669 | |||||||||
| (Cost $108,000,961) | ||||||||||
| PURCHASED OPTIONS - 0.0% | ||||||||||
| MEDIA & ENTERTAINMENT - 0.0% | ||||||||||
| 2,000 | Meta Platforms, Inc | 44 | ||||||||
| TOTAL MEDIA & ENTERTAINMENT | 44 | |||||||||
| TOTAL PURCHASED OPTIONS | 44 | |||||||||
| (Cost $39) | ||||||||||
| RIGHTS / WARRANTS - 0.0% | ||||||||||
| CAPITAL GOODS - 0.0% | ||||||||||
| 14,273 | e | Saipem S.p.A | 19 | |||||||
| 26,206 | †,e | Webuild S.p.A | 24 | |||||||
| TOTAL CAPITAL GOODS | 43 | |||||||||
| CONSUMER DURABLES & APPAREL - 0.0% | ||||||||||
| 1,195,534 | e | Cie Financiere Richemont S.A. | 651 | |||||||
| TOTAL CONSUMER DURABLES & APPAREL | 651 | |||||||||
| CONSUMER SERVICES - 0.0% | ||||||||||
| 69,576 | e | PointsBet Holdings Pty Ltd | 0 | ^ | ||||||
| TOTAL CONSUMER SERVICES | 0 | ^ | ||||||||
| DIVERSIFIED FINANCIALS - 0.0% | ||||||||||
| 1,059 | Magellan Financial Group Ltd | 1 | ||||||||
| TOTAL DIVERSIFIED FINANCIALS | 1 | |||||||||
| ENERGY - 0.0% | ||||||||||
| 8,715 | e | Weatherford International plc | 3 | |||||||
| 790,079 | Yinson Holdings BHD | 61 | ||||||||
| TOTAL ENERGY | 64 | |||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 0.0% | ||||||||||
| 167 | Microport Scientific Corp | 0 | ^ | |||||||
| 531,967 | Vibhavadi Medical Center PCL | 0 | ^ | |||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 0 | ^ | ||||||||
| MEDIA & ENTERTAINMENT - 0.0% | ||||||||||
| 10,558 | Advantage Solutions, Inc | 2 | ||||||||
| 189,775 | carsales.com Ltd | 87 | ||||||||
| TOTAL MEDIA & ENTERTAINMENT | 89 | |||||||||
| 193 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| SHARES | COMPANY | VALUE (000) | ||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0% | ||||||||||||||||
| 12,599 | † | Chinook Therapeutics, Inc | $ | 0 | ^ | |||||||||||
| 20,027 | †,e | Tobira Therapeutics, Inc | 1 | |||||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 1 | |||||||||||||||
| REAL ESTATE - 0.0% | ||||||||||||||||
| 33,324 | MBK PCL | 12 | ||||||||||||||
| TOTAL REAL ESTATE | 12 | |||||||||||||||
| TOTAL RIGHTS / WARRANTS | 861 | |||||||||||||||
| (Cost $1,695) | ||||||||||||||||
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | |||||||||||||
| SHORT-TERM INVESTMENTS - 2.4% | ||||||||||||||||
| GOVERNMENT AGENCY DEBT - 1.0% | ||||||||||||||||
| $ | 5,000,000 | Federal Farm Credit Bank (FFCB) | 0.000 | % | 07/05/22 | 4,999 | ||||||||||
| 5,000,000 | FFCB | 0.000 | 07/12/22 | 4,998 | ||||||||||||
| 12,214,000 | FFCB | 0.000 | 07/20/22 | 12,205 | ||||||||||||
| 25,805,000 | FFCB | 0.000 | 07/22/22 | 25,784 | ||||||||||||
| 10,000,000 | FFCB | 0.000 | 09/13/22 | 9,961 | ||||||||||||
| 230,110,000 | Federal Home Loan Bank (FHLB) | 0.000 | 07/01/22 | 230,110 | ||||||||||||
| 20,000,000 | FHLB | 0.010 | 07/01/22 | 20,000 | ||||||||||||
| 52,340,000 | FHLB | 0.000 | 07/06/22 | 52,330 | ||||||||||||
| 35,850,000 | FHLB | 0.000 | 07/07/22 | 35,842 | ||||||||||||
| 15,856,000 | FHLB | 0.000 | 07/08/22 | 15,852 | ||||||||||||
| 59,900,000 | FHLB | 0.000 | 07/11/22 | 59,877 | ||||||||||||
| 38,400,000 | FHLB | 0.000 | 07/12/22 | 38,384 | ||||||||||||
| 94,325,000 | FHLB | 0.000 | 07/15/22 | 94,274 | ||||||||||||
| 20,100,000 | FHLB | 0.000 | 07/18/22 | 20,087 | ||||||||||||
| 10,300,000 | FHLB | 0.000 | 07/19/22 | 10,293 | ||||||||||||
| 8,100,000 | FHLB | 0.000 | 07/21/22 | 8,093 | ||||||||||||
| 35,543,000 | FHLB | 0.000 | 07/22/22 | 35,514 | ||||||||||||
| 27,925,000 | FHLB | 0.000 | 07/27/22 | 27,897 | ||||||||||||
| 15,000,000 | FHLB | 0.000 | 07/29/22 | 14,984 | ||||||||||||
| 20,000,000 | FHLB | 0.000 | 08/04/22 | 19,968 | ||||||||||||
| 44,000,000 | FHLB | 0.000 | 08/05/22 | 43,927 | ||||||||||||
| 35,480,000 | FHLB | 0.000 | 08/09/22 | 35,414 | ||||||||||||
| 50,000,000 | FHLB | 0.000 | 08/15/22 | 49,893 | ||||||||||||
| 31,411,000 | FHLB | 0.000 | 08/19/22 | 31,338 | ||||||||||||
| 15,000,000 | FHLB | 0.000 | 08/24/22 | 14,961 | ||||||||||||
| 45,000,000 | FHLB | 0.000 | 09/07/22 | 44,839 | ||||||||||||
| 50,000,000 | FHLB | 0.000 | 09/28/22 | 49,765 | ||||||||||||
| 12,500,000 | FHLB | 0.000 | 12/21/22 | 12,341 | ||||||||||||
| 20,000,000 | FHLB | 0.000 | 12/28/22 | 19,736 | ||||||||||||
| 15,000,000 | FHLB | 0.000 | 02/27/23 | 14,733 | ||||||||||||
| 12,500,000 | Tennessee Valley Authority | 0.000 | 07/06/22 | 12,498 | ||||||||||||
| TOTAL GOVERNMENT AGENCY DEBT | 1,070,897 | |||||||||||||||
| 194 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| REPURCHASE AGREEMENT - 0.2% | ||||||||||||||||
| $ | 191,245,000 | r | Fixed Income Clearing Corp (FICC) | 1.450 | % | 07/01/22 | $ | 191,245 | ||||||||
| TOTAL REPURCHASE AGREEMENT | 191,245 | |||||||||||||||
| TREASURY DEBT - 0.2% | ||||||||||||||||
| 32,327,000 | United States Cash Management Bill | 0.000 | 07/05/22 | 32,324 | ||||||||||||
| 43,000,000 | United States Treasury Bill | 0.000 | 07/07/22 | 42,995 | ||||||||||||
| 25,000,000 | United States Treasury Bill | 0.010 | 07/26/22 | 24,981 | ||||||||||||
| 25,000,000 | United States Treasury Bill | 0.000 | 08/11/22 | 24,963 | ||||||||||||
| TOTAL TREASURY DEBT | 125,263 | |||||||||||||||
| INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.0% | ||||||||||||||||
| CERTIFICATE OF DEPOSIT - 0.0% | ||||||||||||||||
| 10,000,000 | MUFG Bank | 1.700 | 08/16/22 | 10,000 | ||||||||||||
| 7,000,000 | National Australia Bank | 1.700 | 09/23/22 | 7,000 | ||||||||||||
| 8,000,000 | Nordea Bank Abp | 1.670 | 10/24/22 | 8,000 | ||||||||||||
| 21,000,000 | Nordea Bank Abp | 1.930 | 12/12/22 | 21,000 | ||||||||||||
| TOTAL CERTIFICATE OF DEPOSIT | 46,000 | |||||||||||||||
| REPURCHASE AGREEMENT - 1.0% | ||||||||||||||||
| 7,000,000 | s | Calyon | 1.550 | 07/01/22 | 7,000 | |||||||||||
| 75,000,000 | t | Citigroup | 1.530 | 07/01/22 | 75,000 | |||||||||||
| 45,000,000 | u | Citigroup | 1.550 | 07/07/22 | 45,000 | |||||||||||
| 55,000,000 | v | Deutsche Bank | 1.550 | 07/01/22 | 55,000 | |||||||||||
| 114,031,000 | w | Deutsche Bank | 1.450 | 07/01/22 | 114,031 | |||||||||||
| 35,000,000 | x | Goldman Sachs | 1.450 | 07/01/22 | 35,000 | |||||||||||
| 100,000,000 | y | HSBC | 1.510 | 07/05/22 | 100,000 | |||||||||||
| 80,000,000 | z | JP Morgan | 1.550 | 07/01/22 | 80,000 | |||||||||||
| 50,181,000 | aa | Merrill Lynch | 1.550 | 07/01/22 | 50,181 | |||||||||||
| 60,000,000 | ab | Morgan Stanley | 1.490 | 07/01/22 | 60,000 | |||||||||||
| 175,000,000 | ac | Nomura | 1.480 | 07/01/22 | 175,000 | |||||||||||
| 52,000,000 | ad | Royal Bank of Scotland | 1.490 | 07/01/22 | 52,000 | |||||||||||
| 90,000,000 | ae | Societe Generale | 1.500 | 07/01/22 | 90,000 | |||||||||||
| 118,000,000 | af | Societe Generale | 1.500 | 07/01/22 | 118,000 | |||||||||||
| TOTAL REPURCHASE AGREEMENT | 1,056,212 | |||||||||||||||
| TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED | 1,102,212 | |||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | 2,489,617 | |||||||||||||||
| (Cost $2,490,025) | ||||||||||||||||
| TOTAL INVESTMENTS - 101.1% | 107,202,248 | |||||||||||||||
| (Cost $110,492,784) | ||||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - (1.1)% | (1,162,190 | ) | ||||||||||||||
| NET ASSETS - 100.0% | $ | 106,040,058 | ||||||||||||||
| ADR | American Depositary Receipt | ||
| ETF | Exchange Traded Fund | ||
| GDR | Global Depositary Receipt | ||
| HDC | Housing Development Corporation | ||
| IRB | Interest Rate Reduction Bond | ||
| REIT | Real Estate Investment Trust | ||
| SPDR | Standard & Poor’s Depositary Receipts | ||
| INR | Indian Rupee | ||
| 195 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
| * | Non-income producing | ||
| ^ | Amount represents less than $1,000. | ||
| † | 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 $1,557,608,903. | ||
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/22, the aggregate value of these securities is $1,068,917,464 or 1.0% of net assets. | ||
| h | These securities were purchased on a delayed delivery basis. | ||
| n | All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts. | ||
| r | Agreement with Fixed Income Clearing Corporation, 1.450% dated 6/30/22 to be repurchased at $191,245,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rates 0.125%-0.250% and maturity dates 10/15/25-10/31/25, valued at $195,069,948. | ||
| s | Agreement with Calyon, 1.550% dated 6/30/22 to be repurchased at $7,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 2.500% and maturity date 8/1/50, valued at $7,140,000. | ||
| t | Agreement with Citigroup, 1.530% dated 6/30/22 to be repurchased at $75,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 1.500% and maturity date 2/15/30, valued at $76,500,067. | ||
| u | Agreement with Citigroup, 1.550% dated 6/30/22 to be repurchased at $45,000,000 on 7/7/22, collateralized by U.S. Government Agency Securities, with coupon rates 0.750%-4.500% and maturity dates 11/15/24-5/20/52, valued at $45,900,023. | ||
| v | Agreement with Deutsche Bank, 1.550% dated 6/30/22 to be repurchased at $55,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 0.000% and maturity dates 8/15/22-5/15/26, valued at $56,100,000. | ||
| w | Agreement with Deutsche Bank, 1.450% dated 6/30/22 to be repurchased at $114,031,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 0.000% and maturity dates 7/7/22-12/1/22, valued at $116,311,635. | ||
| x | Agreement with Goldman Sachs, 1.450% dated 6/30/22 to be repurchased at $35,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 1.630%-3.000% and maturity dates 9/30/26-5/15/45, valued at $35,700,000. | ||
| y | Agreement with HSBC, 1.510% dated 6/30/22 to be repurchased at $100,000,000 on 7/5/22, collateralized by U.S. Government Agency Securities, with coupon rates 0.050%-4.380% and maturity dates 4/15/24-5/15/41, valued at $102,000,069. | ||
| z | Agreement with JP Morgan, 1.550% dated 6/30/22 to be repurchased at $80,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 2.010%-3.600% and maturity dates 3/1/28-7/1/52, valued at $81,600,000. | ||
| aa | Agreement with Merrill Lynch, 1.550% dated 6/30/22 to be repurchased at $50,181,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 2.500% and maturity date 10/1/50, valued at $51,184,620. | ||
| ab | Agreement with Morgan Stanley, 1.490% dated 6/30/22 to be repurchased at $60,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 1.500%-6.000% and maturity dates 10/1/22-7/1/52, valued at $61,200,000. | ||
| ac | Agreement with Nomura, 1.480% dated 6/30/22 to be repurchased at $175,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 0.000%-2.880% and maturity dates 9/29/22-11/15/42, valued at $178,500,059. | ||
| ad | Agreement with Royal Bank of Scotland, 1.490% dated 6/30/22 to be repurchased at $52,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 1.880%-6.130% and maturity dates 2/15/29-5/15/52, valued at $53,040,016. | ||
| ae | Agreement with Societe Generale, 1.500% dated 6/24/22 to be repurchased at $90,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 0.000% and maturity date 12/29/22, valued at $91,800,091. | ||
| af | Agreement with Societe Generale, 1.500% dated 6/30/22 to be repurchased at $118,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 0.000% and maturity dates 10/11/22-12/29/22, valued at $120,360,036. | ||
| Cost amounts are in thousands. | |||
| 196 |
COLLEGE RETIREMENT EQUITIES FUND - Stock Account
Purchased options outstanding as of June 30, 2022 were as follows (notional amounts and values are in thousands):
| Description/underlying investment | Number of contracts | Notional amount | Exercise price | Expiration date | Value | |||||||||||||||
| Meta Platforms, Inc, Put | 20 | $ | 40 | $ | 175.00 | 08/19/22 | $ | 44 | ||||||||||||
Written options outstanding as of June 30, 2022 were as follows (notional amounts and values are in thousands):
| Description/underlying investment | Number of contracts | Notional amount | Exercise price | Expiration date | Value | |||||||||||||||
| Amazon.com, Inc, Call | 10 | $ | (1 | ) | $ | 126.00 | 07/15/22 | $ | (0 | )^ | ||||||||||
| American Express Co, Put | 30 | (5 | ) | 125.00 | 07/15/22 | (3 | ) | |||||||||||||
| AutoZone, Inc, Put | 5 | (13 | ) | 1,700.00 | 09/16/22 | (10 | ) | |||||||||||||
| Delta Air Lines, Inc, Put | 20 | (1 | ) | 25.00 | 07/15/22 | (1 | ) | |||||||||||||
| Intuitive Surgical, Inc, Put | 20 | (21 | ) | 180.00 | 09/16/22 | (17 | ) | |||||||||||||
| Meta Platforms, Inc, Call | 20 | (12 | ) | 190.00 | 08/19/22 | (9 | ) | |||||||||||||
| Meta Platforms, Inc, Put | 20 | (20 | ) | 175.00 | 08/19/22 | (24 | ) | |||||||||||||
| Meta Platforms, Inc, Put | 20 | (29 | ) | 165.00 | 08/19/22 | (33 | ) | |||||||||||||
| Microsoft Corp, Put | 10 | (7 | ) | 235.00 | 07/15/22 | (1 | ) | |||||||||||||
| NVIDIA Corp, Put | 3,178 | (3,773 | ) | 130.00 | 12/16/22 | (4,086 | ) | |||||||||||||
| Paramount Global, Call | 45 | (4 | ) | 40.00 | 08/19/22 | (0 | )^ | |||||||||||||
| Paramount Global, Put | 45 | (18 | ) | 32.50 | 09/16/22 | (36 | ) | |||||||||||||
| PayPal Holdings, Inc, Call | 20 | (5 | ) | 115.00 | 07/15/22 | (0 | )^ | |||||||||||||
| Tesla, Inc, Call | 3 | (1 | ) | 950.00 | 07/15/22 | (0 | )^ | |||||||||||||
| Wolfspeed, Inc, Put | 20 | (16 | ) | 65.00 | 09/16/22 | (18 | ) | |||||||||||||
| Total | 3,466 | $ | (3,926 | ) | $ | (4,257 | ) | |||||||||||||
| ^ Amount represents less than $1,000. | ||||||||||||||||||||
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Description | Number of long (short) contracts | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation) | |||||||||||||||
| Russell 2000 E Mini Index | 575 | 09/16/22 | $ | 54,206 | $ | 49,105 | $ | (5,101 | ) | |||||||||||
| S&P 500 E Mini Index | 3,670 | 09/16/22 | 753,712 | 695,373 | (58,339 | ) | ||||||||||||||
| S&P Mid-Cap 400 E Mini Index | 311 | 09/16/22 | 78,232 | 70,535 | (7,697 | ) | ||||||||||||||
| Total | 4,556 | $ | 886,150 | $ | 815,013 | $ | (71,137 | ) | ||||||||||||
| 197 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2022
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| BONDS - 0.0% | ||||||||||||||||
| CORPORATE BONDS - 0.0% | ||||||||||||||||
| INDIA - 0.0% | ||||||||||||||||
| INR | 1,191,204 | Britannia Industries Ltd | 5.500 | % | 06/03/24 | $ | 15 | |||||||||
| TOTAL INDIA | 15 | |||||||||||||||
| TOTAL CORPORATE BONDS | 15 | |||||||||||||||
| (Cost $16) | ||||||||||||||||
| TOTAL BONDS | 15 | |||||||||||||||
| (Cost $16) | ||||||||||||||||
| SHARES | COMPANY | |||||||||||||||
| COMMON STOCKS - 98.9% | ||||||||||||||||
| AUSTRALIA - 1.4% | ||||||||||||||||
| 774,674 | * | AMP Ltd | 512 | |||||||||||||
| 227,215 | APA Group | 1,769 | ||||||||||||||
| 1,845,209 | Australia & New Zealand Banking Group Ltd | 28,104 | ||||||||||||||
| 43,637 | Australian Stock Exchange Ltd | 2,467 | ||||||||||||||
| 681,005 | *,† | AZ BGP Holdings | 2 | |||||||||||||
| 697,179 | BHP Billiton Ltd | 19,963 | ||||||||||||||
| 42,140 | Cochlear Ltd | 5,785 | ||||||||||||||
| 399,044 | Commonwealth Bank of Australia | 24,931 | ||||||||||||||
| 62,589 | CSL Ltd | 11,621 | ||||||||||||||
| 164,350 | Endeavour Group Ltd | 860 | ||||||||||||||
| 19,194,529 | Glencore Xstrata plc | 103,966 | ||||||||||||||
| 1,106,070 | IDP Education Ltd | 18,112 | ||||||||||||||
| 3,987,981 | Ingenia Communities Group | 10,984 | ||||||||||||||
| 520,953 | Insurance Australia Group Ltd | 1,571 | ||||||||||||||
| 77,551 | Macquarie Group Ltd | 8,830 | ||||||||||||||
| 29,588 | e | Magellan Financial Group Ltd | 265 | |||||||||||||
| 620,804 | Medibank Pvt Ltd | 1,396 | ||||||||||||||
| 261,899 | * | Megaport Ltd | 990 | |||||||||||||
| 720,488 | National Australia Bank Ltd | 13,662 | ||||||||||||||
| 2,624,976 | *,e | PointsBet Holdings Ltd | 4,883 | |||||||||||||
| 218,831 | * | Qantas Airways Ltd | 677 | |||||||||||||
| 331,188 | QBE Insurance Group Ltd | 2,783 | ||||||||||||||
| 108,829 | Ramsay Health Care Ltd | 5,512 | ||||||||||||||
| 161,370 | Rio Tinto plc | 9,648 | ||||||||||||||
| 319,806 | Sonic Healthcare Ltd | 7,289 | ||||||||||||||
| 284,241 | Suncorp-Metway Ltd | 2,167 | ||||||||||||||
| 873,638 | Telstra Corp Ltd | 2,324 | ||||||||||||||
| 93,763 | Wesfarmers Ltd | 2,712 | ||||||||||||||
| 826,872 | Westpac Banking Corp | 11,154 | ||||||||||||||
| 125,980 | Woodside Energy Group Ltd | 2,769 | ||||||||||||||
| 198 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 164,350 | Woolworths Ltd | $ | 4,037 | |||||||
| TOTAL AUSTRALIA | 311,745 | |||||||||
| AUSTRIA - 0.1% | ||||||||||
| 310,335 | BAWAG Group AG. | 13,101 | ||||||||
| 167,537 | Erste Bank der Oesterreichischen Sparkassen AG. | 4,257 | ||||||||
| 13,157 | Verbund AG. | 1,293 | ||||||||
| TOTAL AUSTRIA | 18,651 | |||||||||
| BELGIUM - 0.1% | ||||||||||
| 98,705 | Anheuser-Busch InBev S.A. | 5,316 | ||||||||
| 276,855 | KBC Groep NV | 15,576 | ||||||||
| TOTAL BELGIUM | 20,892 | |||||||||
| BERMUDA - 0.0% | ||||||||||
| 10,387 | RenaissanceRe Holdings Ltd | 1,624 | ||||||||
| TOTAL BERMUDA | 1,624 | |||||||||
| BRAZIL - 0.9% | ||||||||||
| 1,066,600 | AMBEV S.A. | 2,731 | ||||||||
| 4,681,062 | Americanas S.A. | 12,012 | ||||||||
| 98,500 | Atacadao Distribuicao Comercio e Industria Ltd | 314 | ||||||||
| 1,039,700 | B3 SA-Brasil Bolsa Balcao | 2,177 | ||||||||
| 2,236,918 | Banco Bradesco S.A. | 6,146 | ||||||||
| 15,760,918 | Banco Bradesco S.A. (Preference) | 51,799 | ||||||||
| 3,266,360 | Banco BTG Pactual S.A. - Unit | 13,924 | ||||||||
| 76,232 | Banco do Brasil S.A. | 486 | ||||||||
| 34,700 | Banco Santander Brasil S.A. | 191 | ||||||||
| 150,900 | BB Seguridade Participacoes S.A. | 749 | ||||||||
| 41,800 | Braskem S.A. | 297 | ||||||||
| 139,400 | * | BRF S.A. | 362 | |||||||
| 234,873 | Centrais Eletricas Brasileiras S.A. | 2,073 | ||||||||
| 57,200 | Centrais Eletricas Brasileiras S.A. (Preference) | 510 | ||||||||
| 271,800 | Cia de Concessoes Rodoviarias | 651 | ||||||||
| 79,300 | Cia de Saneamento Basico do Estado de Sao Paulo | 639 | ||||||||
| 288,405 | Cia Energetica de Minas Gerais | 572 | ||||||||
| 145,800 | Cia Siderurgica Nacional S.A. | 430 | ||||||||
| 266,768 | Cosan SA Industria e Comercio | 928 | ||||||||
| 44,900 | CPFL Energia S.A. | 265 | ||||||||
| 39,100 | Energisa S.A. | 301 | ||||||||
| 37,750 | Engie Brasil Energia S.A. | 298 | ||||||||
| 218,499 | Equatorial Energia S.A. | 954 | ||||||||
| 246,600 | Gerdau S.A. (Preference) | 1,053 | ||||||||
| 665,714 | g | Hapvida Participacoes e Investimentos S.A. | 696 | |||||||
| 190,200 | Hypermarcas S.A. | 1,383 | ||||||||
| 13,141 | Inter & Co, Inc | 35 | ||||||||
| 1,234,637 | Investimentos Itau S.A. - PR | 1,968 | ||||||||
| 5,403,719 | Itau Unibanco Holding S.A. | 23,408 | ||||||||
| 163,300 | Klabin S.A. | 630 | ||||||||
| 132,895 | Localiza Rent A Car | 1,331 | ||||||||
| 211,792 | Lojas Renner S.A. | 915 | ||||||||
| 5,438,200 | Magazine Luiza S.A. | 2,432 | ||||||||
| 9,724 | * | MercadoLibre, Inc | 6,193 | |||||||
| 199 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 194,395 | Natura & Co Holding S.A. | $ | 499 | |||||||
| 408,681 | * | Pagseguro Digital Ltd | 4,185 | |||||||
| 184,700 | * | Petro Rio S.A. | 776 | |||||||
| 857,500 | Petroleo Brasileiro S.A. | 5,004 | ||||||||
| 1,091,938 | Petroleo Brasileiro S.A. (Preference) | 5,828 | ||||||||
| 235,100 | Raia Drogasil S.A. | 863 | ||||||||
| 81,100 | g | Rede D’Or Sao Luiz S.A. | 449 | |||||||
| 284,500 | Rumo S.A. | 868 | ||||||||
| 586,896 | * | StoneCo Ltd | 4,519 | |||||||
| 165,822 | Suzano SA | 1,574 | ||||||||
| 122,000 | Telefonica Brasil S.A. | 1,097 | ||||||||
| 206,900 | TIM S.A. | 504 | ||||||||
| 108,300 | Totvus S.A. | 481 | ||||||||
| 164,700 | Ultrapar Participacoes S.A. | 387 | ||||||||
| 2,191,164 | Vale S.A. | 32,054 | ||||||||
| 242,600 | Vibra Energia S.A. | 775 | ||||||||
| 363,620 | Weg S.A. | 1,838 | ||||||||
| 162,000 | * | XP, Inc | 2,910 | |||||||
| TOTAL BRAZIL | 203,464 | |||||||||
| CANADA - 2.5% | ||||||||||
| 40,038 | Agnico-Eagle Mines Ltd | 1,833 | ||||||||
| 842,456 | Alimentation Couche-Tard, Inc | 32,862 | ||||||||
| 437,977 | Bank of Montreal | 42,117 | ||||||||
| 273,466 | Bank of Nova Scotia | 16,185 | ||||||||
| 331,325 | Barrick Gold Corp | 5,858 | ||||||||
| 398 | Brookfield Asset Management Reinsurance Partners Ltd | 18 | ||||||||
| 56,596 | Brookfield Asset Management, Inc | 2,518 | ||||||||
| 444,011 | Cameco Corp (Toronto) | 9,334 | ||||||||
| 200,682 | Canadian Imperial Bank of Commerce | 9,746 | ||||||||
| 393,340 | Canadian National Railway Co | 44,245 | ||||||||
| 223,616 | Canadian Natural Resources Ltd | 12,016 | ||||||||
| 852,618 | Canadian Pacific Railway Ltd | 59,555 | ||||||||
| 47,111 | CI Financial Corp | 500 | ||||||||
| 523,635 | Dollarama, Inc | 30,152 | ||||||||
| 450,434 | Enbridge, Inc | 19,022 | ||||||||
| 6,028 | Fairfax Financial Holdings Ltd | 3,194 | ||||||||
| 24,120 | First Capital Real Estate Investment Trust | 281 | ||||||||
| 62,731 | Great-West Lifeco, Inc | 1,532 | ||||||||
| 24,106 | iA Financial Corp, Inc | 1,199 | ||||||||
| 18,690 | e | IGM Financial, Inc | 501 | |||||||
| 218,791 | e | Imperial Oil Ltd | 10,314 | |||||||
| 32,236 | Intact Financial Corp | 4,547 | ||||||||
| 885,976 | * | Ivanhoe Mines Ltd | 5,100 | |||||||
| 724,647 | *,e | Lightspeed Commerce, Inc | 16,157 | |||||||
| 437,190 | Manulife Financial Corp | 7,581 | ||||||||
| 75,707 | National Bank of Canada | 4,968 | ||||||||
| 494,477 | Nutrien Ltd | 39,379 | ||||||||
| 18,764 | Onex Corp | 934 | ||||||||
| 125,269 | Power Corp Of Canada | 3,223 | ||||||||
| 113,195 | RioCan Real Estate Investment Trust | 1,761 | ||||||||
| 320,852 | Royal Bank of Canada | 31,068 | ||||||||
| 1,562,500 | *,e | Shopify, Inc (Class A) | 48,822 | |||||||
| 200 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 131,783 | Sun Life Financial, Inc | $ | 6,038 | |||||||
| 459,862 | Suncor Energy, Inc | 16,134 | ||||||||
| 301,833 | Teck Cominco Ltd | 9,229 | ||||||||
| 39,111 | Thomson Reuters Corp | 4,077 | ||||||||
| 12,702 | TMX Group Ltd | 1,293 | ||||||||
| 407,822 | Toronto-Dominion Bank | 26,744 | ||||||||
| 50,487 | e | West Fraser Timber Co Ltd | 3,874 | |||||||
| TOTAL CANADA | 533,911 | |||||||||
| CHILE - 0.0% | ||||||||||
| 4,101,105 | Banco de Chile | 373 | ||||||||
| 4,215 | Banco de Credito e Inversiones | 123 | ||||||||
| 5,753,224 | Banco Santander Chile S.A. | 232 | ||||||||
| 334,981 | Cencosud S.A. | 426 | ||||||||
| 31,401 | Cia Cervecerias Unidas S.A. | 199 | ||||||||
| 3,285,584 | Compania SudAmericana de Vapores S.A. | 294 | ||||||||
| 260,470 | Empresas CMPC S.A. | 433 | ||||||||
| 89,475 | Empresas COPEC S.A. | 660 | ||||||||
| 6,315,205 | Enel Chile S.A. | 143 | ||||||||
| 4,917,211 | Enersis S.A. | 467 | ||||||||
| 174,397 | SACI Falabella | 409 | ||||||||
| 32,043 | Sociedad Quimica y Minera de Chile S.A. (Class B) | 2,671 | ||||||||
| TOTAL CHILE | 6,430 | |||||||||
| CHINA - 3.1% | ||||||||||
| 20,500 | 360 Finance, Inc (ADR) | 355 | ||||||||
| 34,200 | 360 Security Technology, Inc | 44 | ||||||||
| 151,000 | g | 3SBio, Inc | 120 | |||||||
| 75,000 | e | AAC Technologies Holdings, Inc | 173 | |||||||
| 8,577 | * | Advanced Micro-Fabrication Equipment, Inc China | 150 | |||||||
| 12,600 | AECC Aero-Engine Control Co Ltd | 53 | ||||||||
| 24,700 | AECC Aviation Power Co Ltd | 168 | ||||||||
| 2,855,000 | * | Agricultural Bank of China Ltd | 1,079 | |||||||
| 539,500 | * | Agricultural Bank of China Ltd (Class A) | 244 | |||||||
| 28,118 | * | Aier Eye Hospital Group Co Ltd | 188 | |||||||
| 36,800 | * | Air China Ltd | 64 | |||||||
| 178,000 | *,e | Air China Ltd (H shares) | 155 | |||||||
| 30,207 | * | Airtac International Group | 1,008 | |||||||
| 3,197,972 | * | Alibaba Group Holding Ltd | 45,620 | |||||||
| 436,000 | *,e | Alibaba Health Information Technology Ltd | 303 | |||||||
| 149,000 | g | A-Living Services Co Ltd | 240 | |||||||
| 948,000 | Aluminum Corp of China Ltd | 356 | ||||||||
| 177,800 | * | Aluminum Corp of China Ltd (Class A) | 126 | |||||||
| 4,484 | * | Amlogic Shanghai Co Ltd | 68 | |||||||
| 3,600 | Angel Yeast Co Ltd | 26 | ||||||||
| 117,500 | Anhui Conch Cement Co Ltd | 510 | ||||||||
| 20,600 | Anhui Conch Cement Co Ltd (Class A) | 109 | ||||||||
| 24,900 | Anhui Gujing Distillery Co Ltd | 389 | ||||||||
| 2,300 | Anhui Gujing Distillery Co Ltd (Class A) | 86 | ||||||||
| 2,730 | Anhui Honglu Steel Construction Group Co Ltd | 14 | ||||||||
| 4,000 | Anhui Kouzi Distillery Co Ltd | 35 | ||||||||
| 9,900 | Anhui Yingjia Distillery Co Ltd | 96 | ||||||||
| 260,800 | Anta Sports Products Ltd | 3,209 | ||||||||
| 8,400 | Apeloa Pharmaceutical Co Ltd | 26 | ||||||||
| 201 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 11,600 | * | Asia-Potash International Investment Guangzhou Co Ltd | $ | 60 | ||||||
| 1,600 | Asymchem Laboratories Tianjin Co Ltd | 69 | ||||||||
| 7,000 | Autohome, Inc (ADR) | 275 | ||||||||
| 24,200 | Avary Holding Shenzhen Co Ltd | 110 | ||||||||
| 6,200 | Avic Capital Co Ltd | 3 | ||||||||
| 29,300 | AVIC Electromechanical Systems Co Ltd | 54 | ||||||||
| 427,000 | AviChina Industry & Technology Co | 244 | ||||||||
| 5,600 | * | AVICOPTER plc | 38 | |||||||
| 120,677 | * | Baidu, Inc (ADR) | 17,948 | |||||||
| 143,500 | Bank of Beijing Co Ltd | 97 | ||||||||
| 90,900 | Bank of Changsha Co Ltd | 108 | ||||||||
| 19,300 | Bank of Chengdu Co Ltd | 48 | ||||||||
| 241,600 | * | Bank of China Ltd - A | 118 | |||||||
| 25,020,000 | * | Bank of China Ltd - H | 9,997 | |||||||
| 267,300 | Bank of Communications Co Ltd - A | 199 | ||||||||
| 878,000 | Bank of Communications Co Ltd - H | 609 | ||||||||
| 30,200 | * | Bank of Hangzhou Co Ltd | 68 | |||||||
| 97,380 | Bank of Jiangsu Co Ltd | 104 | ||||||||
| 57,400 | Bank of Nanjing Co Ltd | 89 | ||||||||
| 36,400 | Bank of Ningbo Co Ltd | 195 | ||||||||
| 85,922 | Bank of Shanghai Co Ltd | 84 | ||||||||
| 341,000 | Baoshan Iron & Steel Co Ltd | 307 | ||||||||
| 82,300 | BBMG Corp | 34 | ||||||||
| 11,300 | * | BeiGene Ltd (ADR) | 1,829 | |||||||
| 218,000 | * | Beijing Capital International Airport Co Ltd | 149 | |||||||
| 29,400 | Beijing Dabeinong Technology Group Co Ltd | 34 | ||||||||
| 7,300 | Beijing Easpring Material Technology Co Ltd | 99 | ||||||||
| 18,600 | Beijing Enlight Media Co Ltd | 26 | ||||||||
| 59,000 | Beijing Enterprises Holdings Ltd | 210 | ||||||||
| 454,000 | Beijing Enterprises Water Group Ltd | 137 | ||||||||
| 5,828 | Beijing Kingsoft Office Software, Inc | 172 | ||||||||
| 9,500 | Beijing Kunlun Tech Co Ltd | 23 | ||||||||
| 20,900 | Beijing New Building Materials plc | 108 | ||||||||
| 49,900 | Beijing Originwater Technology Co Ltd | 39 | ||||||||
| 717 | Beijing Roborock Technology Co Ltd | 66 | ||||||||
| 11,424 | Beijing Shiji Information Technology Co Ltd | 27 | ||||||||
| 3,800 | Beijing Shunxin Agriculture Co Ltd | 15 | ||||||||
| 19,800 | Beijing Sinnet Technology Co Ltd | 31 | ||||||||
| 10,540 | * | Beijing Tiantan Biological Products Corp Ltd | 38 | |||||||
| 4,845 | Beijing United Information Technology Co Ltd | 64 | ||||||||
| 6,630 | Beijing Wantai Biological Pharmacy Enterprise Co Ltd | 154 | ||||||||
| 2,000 | Beijing Yuanliu Hongyuan Electronic Technology Co Ltd | 40 | ||||||||
| 239,600 | Beijing-Shanghai High Speed Railway Co Ltd | 180 | ||||||||
| 3,400 | Betta Pharmaceuticals Co Ltd | 31 | ||||||||
| 2,200 | BGI Genomics Co Ltd | 24 | ||||||||
| 100,744 | *,e | Bilibili, Inc (ADR) | 2,579 | |||||||
| 4,203 | Bloomage Biotechnology Corp Ltd | 90 | ||||||||
| 833,500 | BOC Hong Kong Holdings Ltd | 3,310 | ||||||||
| 5,700 | BOC International China Co Ltd | 11 | ||||||||
| 195,000 | BOE Technology Group Co Ltd | 115 | ||||||||
| 304,000 | Bosideng International Holdings Ltd | 189 | ||||||||
| 136,000 | *,† | Brilliance China Automotive Holdings Ltd | 0 | ^ | ||||||
| 5,800 | BTG Hotels Group Co Ltd | 22 | ||||||||
| 202 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 24,600 | BYD Co Ltd | $ | 1,229 | |||||||
| 184,500 | BYD Co Ltd (H shares) | 7,437 | ||||||||
| 64,000 | e | BYD Electronic International Co Ltd | 203 | |||||||
| 7,100 | By-health Co Ltd | 23 | ||||||||
| 17,030 | Caitong Securities Co Ltd | 20 | ||||||||
| 8,400 | *,e,g | CanSino Biologics, Inc | 86 | |||||||
| 647 | * | CanSino Biologics, Inc | 19 | |||||||
| 49,600 | CECEP Solar Energy Co Ltd | 62 | ||||||||
| 106,200 | CECEP Wind-Power Corp | 76 | ||||||||
| 339,000 | g | CGN Power Co Ltd | 82 | |||||||
| 1,000 | Chacha Food Co Ltd | 9 | ||||||||
| 2,600 | Changchun High & New Technology Industry Group, Inc | 91 | ||||||||
| 24,000 | Changjiang Securities Co Ltd | 21 | ||||||||
| 3,500 | Changzhou Xingyu Automotive Lighting Systems Co Ltd | 90 | ||||||||
| 24,600 | Chaozhou Three-Circle Group Co Ltd | 111 | ||||||||
| 27,700 | Chengtun Mining Group Co Ltd | 32 | ||||||||
| 11,000 | Chengxin Lithium Group Co Ltd | 100 | ||||||||
| 23,300 | * | Chifeng Jilong Gold Mining Co Ltd | 55 | |||||||
| 43,400 | China Baoan Group Co Ltd | 88 | ||||||||
| 1,049,000 | China Cinda Asset Management Co Ltd | 165 | ||||||||
| 918,000 | China Citic Bank | 411 | ||||||||
| 573,000 | China Coal Energy Co | 484 | ||||||||
| 284,000 | China Communications Services Corp Ltd | 125 | ||||||||
| 154,500 | China Conch Venture Holdings Ltd | 337 | ||||||||
| 91,500 | China Construction Bank Corp - A | 83 | ||||||||
| 22,850,000 | China Construction Bank Corp - H | 15,407 | ||||||||
| 65,400 | China CSSC Holdings Ltd | 186 | ||||||||
| 36,600 | * | China Eastern Airlines Corp Ltd | 30 | |||||||
| 455,100 | * | China Energy Engineering Corp Ltd | 161 | |||||||
| 273,600 | China Everbright Bank Co Ltd - A | 123 | ||||||||
| 411,000 | China Everbright Bank Co Ltd - H | 133 | ||||||||
| 355,555 | China Everbright International Ltd | 210 | ||||||||
| 815,000 | g | China Feihe Ltd | 938 | |||||||
| 369,000 | China Galaxy Securities Co Ltd | 213 | ||||||||
| 25,200 | China Galaxy Securities Co Ltd (Class A) | 36 | ||||||||
| 278,000 | China Gas Holdings Ltd | 430 | ||||||||
| 9,700 | China Great Wall Securities Co Ltd | 15 | ||||||||
| 27,400 | China Greatwall Technology Group Co Ltd | 44 | ||||||||
| 550,500 | e | China Hongqiao Group Ltd | 620 | |||||||
| 411,800 | China Insurance International Holdings Co Ltd | 509 | ||||||||
| 145,600 | g | China International Capital Corp Ltd | 311 | |||||||
| 4,600 | China International Capital Corp Ltd | 31 | ||||||||
| 27,015 | * | China International Travel Service Corp Ltd | 942 | |||||||
| 974,000 | China Jinmao Holdings Group Ltd | 263 | ||||||||
| 19,929 | China Jushi Co Ltd | 52 | ||||||||
| 90,000 | China Lesso Group Holdings Ltd | 136 | ||||||||
| 1,750,000 | China Life Insurance Co Ltd | 3,055 | ||||||||
| 36,500 | China Life Insurance Co Ltd (Class A) | 170 | ||||||||
| 36,400 | *,g | China Literature Ltd | 176 | |||||||
| 307,000 | China Longyuan Power Group Corp | 595 | ||||||||
| 130,000 | China Medical System Holdings Ltd | 203 | ||||||||
| 21,700 | China Meheco Co Ltd | 48 | ||||||||
| 124,000 | China Meidong Auto Holdings Ltd | 394 | ||||||||
| 203 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 727,000 | China Mengniu Dairy Co Ltd | $ | 3,645 | |||||||
| 898,500 | China Merchants Bank Co Ltd | 6,069 | ||||||||
| 713,600 | China Merchants Bank Co Ltd (Class A) | 4,513 | ||||||||
| 135,426 | China Merchants Holdings International Co Ltd | 231 | ||||||||
| 37,020 | China Merchants Securities Co Ltd | 80 | ||||||||
| 119,800 | China Merchants Shekou Industrial Zone Holdings Co Ltd | 241 | ||||||||
| 12,600 | China Minmetals Rare Earth Co Ltd | 59 | ||||||||
| 221,400 | China Minsheng Banking Corp Ltd - A | 123 | ||||||||
| 669,800 | e | China Minsheng Banking Corp Ltd - H | 239 | |||||||
| 828,000 | e | China Molybdenum Co Ltd | 462 | |||||||
| 233,400 | China Molybdenum Co Ltd (Class A) | 200 | ||||||||
| 984,000 | China National Building Material Co Ltd | 1,054 | ||||||||
| 33,800 | China National Chemical Engineering Co Ltd | 48 | ||||||||
| 97,100 | China National Nuclear Power Co Ltd | 100 | ||||||||
| 51,800 | China Northern Rare Earth Group High-Tech Co Ltd | 273 | ||||||||
| 538,000 | China Oilfield Services Ltd | 525 | ||||||||
| 661,435 | China Overseas Land & Investment Ltd | 2,104 | ||||||||
| 220,000 | China Overseas Property Holdings Ltd | 237 | ||||||||
| 110,700 | * | China Pacific Insurance Group Co Ltd - A | 390 | |||||||
| 635,400 | China Pacific Insurance Group Co Ltd - H | 1,561 | ||||||||
| 519,000 | China Power International Development Ltd | 330 | ||||||||
| 126,300 | China Railway Group Ltd - A | 116 | ||||||||
| 1,918,000 | China Railway Group Ltd - H | 1,187 | ||||||||
| 83,084 | China Railway Signal & Communication Corp Ltd | 56 | ||||||||
| 352,000 | China Resources Beer Holdings Company Ltd | 2,630 | ||||||||
| 239,999 | China Resources Cement Holdings Ltd | 162 | ||||||||
| 90,000 | China Resources Gas Group Ltd | 420 | ||||||||
| 749,836 | China Resources Land Ltd | 3,516 | ||||||||
| 14,775 | China Resources Microelectronics Ltd | 131 | ||||||||
| 160,600 | g | China Resources Mixc Lifestyle Services Ltd | 798 | |||||||
| 188,000 | China Resources Power Holdings Co | 388 | ||||||||
| 6,800 | China Resources Sanjiu Medical & Pharmaceutical Co Ltd | 46 | ||||||||
| 111,300 | China Shenhua Energy Co Ltd - A | 553 | ||||||||
| 796,000 | China Shenhua Energy Co Ltd - H | 2,283 | ||||||||
| 184,000 | * | China Southern Airlines Co Ltd | 107 | |||||||
| 60,500 | * | China Southern Airlines Co Ltd (Class A) | 66 | |||||||
| 246,000 | China State Construction Engineering Corp Ltd | 196 | ||||||||
| 188,000 | China State Construction International Holdings Ltd | 208 | ||||||||
| 491,000 | China Suntien Green Energy Cor | 250 | ||||||||
| 399,300 | China Three Gorges Renewables Group Co Ltd | 376 | ||||||||
| 1,670,000 | g | China Tower Corp Ltd | 215 | |||||||
| 425,300 | China Vanke Co Ltd | 1,071 | ||||||||
| 144,258 | China Vanke Co Ltd (Class A) | 442 | ||||||||
| 46,200 | China Yangtze Power Co Ltd | 160 | ||||||||
| 6,300 | China Zhenhua Group Science & Technology Co Ltd | 128 | ||||||||
| 90,400 | China Zheshang Bank Co Ltd | 45 | ||||||||
| 628,000 | Chinasoft International Ltd | 644 | ||||||||
| 5,900 | Chongqing Brewery Co Ltd | 129 | ||||||||
| 17,654 | Chongqing Changan Automobile Co Ltd | 46 | ||||||||
| 5,100 | Chongqing Fuling Zhacai Group Co Ltd | 26 | ||||||||
| 284,100 | Chongqing Rural Commercial Bank Co Ltd | 157 | ||||||||
| 8,500 | Chongqing Zhifei Biological Products Co Ltd | 141 | ||||||||
| 463,487 | CIFI Holdings Group Co Ltd | 234 | ||||||||
| 561,000 | Citic Pacific Ltd | 572 | ||||||||
| 204 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 200,774 | CITIC Securities Co Ltd | $ | 450 | |||||||
| 71,070 | CITIC Securities Co Ltd (Class A) | 231 | ||||||||
| 3,300 | CNGR Advanced Material Co Ltd | 61 | ||||||||
| 42,630 | CNNC Hua Yuan Titanium Dioxide Co Ltd | 45 | ||||||||
| 32,200 | Contemporary Amperex Technology Co Ltd | 2,580 | ||||||||
| 184,445 | COSCO Pacific Ltd | 130 | ||||||||
| 144,700 | COSCO SHIPPING Development Co Ltd | 65 | ||||||||
| 99,900 | COSCO SHIPPING Energy Transportation Co Ltd | 154 | ||||||||
| 176,360 | COSCO SHIPPING Holdings Co Ltd - A | 367 | ||||||||
| 299,150 | COSCO SHIPPING Holdings Co Ltd - H | 420 | ||||||||
| 1,885,000 | Country Garden Holdings Co Ltd | 1,176 | ||||||||
| 391,000 | Country Garden Services Holdings Co Ltd | 1,755 | ||||||||
| 19,300 | CSC Financial Co Ltd | 84 | ||||||||
| 1,238,880 | CSPC Pharmaceutical Group Ltd | 1,238 | ||||||||
| 3,984 | Da An Gene Co Ltd of Sun Yat-Sen University | 10 | ||||||||
| 505,000 | g | Dali Foods Group Co Ltd | 269 | |||||||
| 441,700 | Dalian Port PDA Co Ltd | 112 | ||||||||
| 120,200 | Daqin Railway Co Ltd | 118 | ||||||||
| 13,300 | * | Daqo New Energy Corp (ADR) | 949 | |||||||
| 3,408 | DaShenLin Pharmaceutical Group Co Ltd | 16 | ||||||||
| 10,400 | DHC Software Co Ltd | 10 | ||||||||
| 13,600 | Do-Fluoride New Materials Co Ltd | 100 | ||||||||
| 6,300 | Dong-E-E-Jiao Co Ltd | 35 | ||||||||
| 43,600 | Dongfang Electric Corp Ltd | 107 | ||||||||
| 652,000 | Dongfeng Motor Group Co Ltd | 496 | ||||||||
| 11,300 | Dongxing Securities Co Ltd | 15 | ||||||||
| 351,000 | Dongyue Group | 440 | ||||||||
| 67,022 | East Money Information Co Ltd | 255 | ||||||||
| 5,700 | Ecovacs Robotics Co Ltd | 104 | ||||||||
| 73,800 | ENN Energy Holdings Ltd | 1,220 | ||||||||
| 31,500 | ENN Natural Gas Co Ltd | 88 | ||||||||
| 26,770 | * | Eve Energy Co Ltd | 392 | |||||||
| 194,000 | e | Ever Sunshine Lifestyle Services Group Ltd | 249 | |||||||
| 21,600 | Everbright Securities Co Ltd | 51 | ||||||||
| 56,343 | Fangda Carbon New Material Co Ltd | 64 | ||||||||
| 74,000 | e | Far East Horizon Ltd | 62 | |||||||
| 8,500 | FAW Jiefang Group Co Ltd | 12 | ||||||||
| 18,900 | Fiberhome Telecommunication Technologies Co Ltd | 41 | ||||||||
| 25,700 | First Capital Securities Co Ltd | 25 | ||||||||
| 97,000 | *,e | Flat Glass Group Co Ltd | 341 | |||||||
| 20,100 | * | Flat Glass Group Co Ltd | 115 | |||||||
| 224,100 | Focus Media Information Technology Co Ltd | 226 | ||||||||
| 51,147 | Foshan Haitian Flavouring & Food Co Ltd | 692 | ||||||||
| 654,000 | Fosun International | 604 | ||||||||
| 32,700 | Founder Securities Co Ltd | 33 | ||||||||
| 49,000 | Foxconn Industrial Internet Co Ltd | 72 | ||||||||
| 800 | Fu Jian Anjoy Foods Co Ltd | 20 | ||||||||
| 3,300 | Fujian Sunner Development Co Ltd | 9 | ||||||||
| 24,800 | Fuyao Glass Industry Group Co Ltd - A | 155 | ||||||||
| 137,600 | g | Fuyao Glass Industry Group Co Ltd - H | 696 | |||||||
| 84,280 | g | Ganfeng Lithium Co Ltd | 929 | |||||||
| 14,900 | Ganfeng Lithium Co Ltd | 332 | ||||||||
| 700 | G-bits Network Technology Xiamen Co Ltd | 41 | ||||||||
| 100,500 | * | GCL System Integration Technology Co Ltd | 56 | |||||||
| 205 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 136,200 | GD Power Development Co Ltd | $ | 80 | |||||||
| 178,584 | *,h | GDS Holdings Ltd | 751 | |||||||
| 174,500 | * | GDS Holdings Ltd (ADR) | 5,827 | |||||||
| 1,373,000 | Geely Automobile Holdings Ltd | 3,145 | ||||||||
| 69,600 | GEM Co Ltd | 95 | ||||||||
| 31,500 | Gemdale Corp | 63 | ||||||||
| 108,000 | * | Genscript Biotech Corp | 393 | |||||||
| 106,800 | GF Securities Co Ltd | 142 | ||||||||
| 31,900 | GF Securities Co Ltd (Class A) | 89 | ||||||||
| 11,200 | Giant Network Group Co Ltd | 15 | ||||||||
| 9,772 | Gigadevice Semiconductor Beijing, Inc | 209 | ||||||||
| 3,800 | Ginlong Technologies Co Ltd | 121 | ||||||||
| 17,000 | GoerTek, Inc | 85 | ||||||||
| 6,800 | Gotion High-tech Co Ltd | 46 | ||||||||
| 10,000 | Great Wall Motor Co Ltd | 55 | ||||||||
| 706,500 | Great Wall Motor Co Ltd | 1,463 | ||||||||
| 18,400 | Gree Electric Appliances, Inc of Zhuhai | 93 | ||||||||
| 210,000 | Greentown China Holdings Ltd | 437 | ||||||||
| 338,000 | Greentown Service Group Co Ltd | 383 | ||||||||
| 48,700 | GRG Banking Equipment Co Ltd | 68 | ||||||||
| 23,600 | Guangdong Haid Group Co Ltd | 212 | ||||||||
| 284,000 | Guangdong Investments Ltd | 300 | ||||||||
| 2,800 | * | Guangdong Kinlong Hardware Products Co Ltd | 54 | |||||||
| 163,800 | Guanghui Energy Co Ltd | 257 | ||||||||
| 28,300 | Guangzhou Automobile Group Co Ltd | 65 | ||||||||
| 682,000 | Guangzhou Automobile Group Co Ltd - H | 662 | ||||||||
| 10,800 | Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd | 51 | ||||||||
| 44,100 | Guangzhou Haige Communications Group, Inc Co | 60 | ||||||||
| 1,800 | * | Guangzhou Kingmed Diagnostics Group Co Ltd | 22 | |||||||
| 7,395 | Guangzhou Shiyuan Electronic Technology Co Ltd | 83 | ||||||||
| 24,800 | Guangzhou Tinci Materials Technology Co Ltd | 230 | ||||||||
| 13,486 | Guangzhou Yuexiu Financial Holdings Group Co Ltd | 14 | ||||||||
| 12,200 | * | Guolian Securities Co Ltd | 22 | |||||||
| 29,100 | Guosen Securities Co Ltd | 42 | ||||||||
| 42,200 | Guotai Junan Securities Co Ltd | 96 | ||||||||
| 25,790 | Guoyuan Securities Co Ltd | 24 | ||||||||
| 104,000 | e,g | Haidilao International Holding Ltd | 244 | |||||||
| 485,000 | Haier Smart Home Co Ltd | 1,805 | ||||||||
| 82,600 | Haier Smart Home Co Ltd | 340 | ||||||||
| 162,000 | Haitian International Holdings Ltd | 414 | ||||||||
| 290,800 | Haitong Securities Co Ltd | 214 | ||||||||
| 54,600 | Haitong Securities Co Ltd (Class A) | 80 | ||||||||
| 14,036 | Hangzhou First Applied Material Co Ltd | 138 | ||||||||
| 8,400 | Hangzhou Lion Electronics Co Ltd | 85 | ||||||||
| 11,100 | Hangzhou Oxygen Plant Group Co Ltd | 52 | ||||||||
| 6,130 | Hangzhou Robam Appliances Co Ltd | 33 | ||||||||
| 18,800 | * | Hangzhou Silan Microelectronics Co Ltd | 147 | |||||||
| 1,800 | Hangzhou Tigermed Consulting Co Ltd - A | 31 | ||||||||
| 10,900 | g | Hangzhou Tigermed Consulting Co Ltd - H | 126 | |||||||
| 108,000 | g | Hansoh Pharmaceutical Group Co Ltd | 219 | |||||||
| 9,200 | Heilongjiang Agriculture Co Ltd | 20 | ||||||||
| 38,700 | Henan Shenhuo Coal & Power Co Ltd | 76 | ||||||||
| 40,700 | Henan Shuanghui Investment & Development Co Ltd | 178 | ||||||||
| 151,500 | Hengan International Group Co Ltd | 713 | ||||||||
| 206 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 76,380 | Hengli Petrochemical Co Ltd | $ | 254 | |||||||
| 1,032,000 | *,e | HengTen Networks Group Ltd | 379 | |||||||
| 42,900 | Hengtong Optic-electric Co Ltd | 93 | ||||||||
| 51,130 | Hengyi Petrochemical Co Ltd | 80 | ||||||||
| 316,900 | Hesteel Co Ltd | 107 | ||||||||
| 2,800 | Hithink RoyalFlush Information Network Co Ltd | 40 | ||||||||
| 6,860 | Hongfa Technology Co Ltd | 43 | ||||||||
| 182,468 | e | Hopson Development Holdings Ltd | 278 | |||||||
| 6,200 | Hoshine Silicon Industry Co Ltd | 110 | ||||||||
| 55,000 | *,g | Hua Hong Semiconductor Ltd | 200 | |||||||
| 56,600 | Huadian Power International Corp Ltd (Class A) | 33 | ||||||||
| 12,540 | Huadong Medicine Co Ltd | 85 | ||||||||
| 51,600 | Huafon Chemical Co Ltd | 65 | ||||||||
| 12,100 | Huagong Tech Co Ltd | 42 | ||||||||
| 46,300 | Huaibei Mining Holdings Co Ltd | 101 | ||||||||
| 13,460 | Hualan Biological Engineering, Inc | 46 | ||||||||
| 45,600 | Huaneng Power International, Inc - A | 48 | ||||||||
| 370,000 | Huaneng Power International, Inc - H | 184 | ||||||||
| 151,000 | g | Huatai Securities Co Ltd | 225 | |||||||
| 15,500 | Huatai Securities Co Ltd (Class A) | 33 | ||||||||
| 14,200 | Huaxi Securities Co Ltd | 17 | ||||||||
| 82,600 | Huaxia Bank Co Ltd | 64 | ||||||||
| 3,500 | Huaxin Cement Co Ltd | 10 | ||||||||
| 15,700 | Huayu Automotive Systems Co Ltd | 54 | ||||||||
| 77,474 | Huazhu Group Ltd (ADR) | 2,952 | ||||||||
| 16,400 | Hubei Xingfa Chemicals Group Co Ltd | 108 | ||||||||
| 5,800 | Huizhou Desay Sv Automotive Co Ltd | 128 | ||||||||
| 4,700 | Humanwell Healthcare Group Co Ltd | 11 | ||||||||
| 117,900 | Hunan Valin Steel Co Ltd | 90 | ||||||||
| 8,548 | Hundsun Technologies, Inc | 56 | ||||||||
| 7,471 | *,e | Hutchison China MediTech Ltd (ADR) | 94 | |||||||
| 80,800 | *,e,g | Hygeia Healthcare Holdings Co Ltd | 539 | |||||||
| 251,311 | * | iClick Interactive Asia Group Ltd (ADR) | 169 | |||||||
| 13,000 | Iflytek Co Ltd | 80 | ||||||||
| 2,500 | Imeik Technology Development Co Ltd | 225 | ||||||||
| 377,900 | Industrial & Commercial Bank of China Ltd - A | 269 | ||||||||
| 13,328,000 | * | Industrial & Commercial Bank of China Ltd - H | 7,952 | |||||||
| 115,200 | Industrial Bank Co Ltd | 343 | ||||||||
| 32,300 | Industrial Securities Co Ltd | 34 | ||||||||
| 6,300 | Ingenic Semiconductor Co Ltd | 100 | ||||||||
| 675,500 | Inner Mongolia BaoTou Steel Union Co Ltd | 238 | ||||||||
| 46,800 | Inner Mongolia Dian Tou Energy Corp Ltd | 100 | ||||||||
| 17,080 | Inner Mongolia ERDOS Resources Co Ltd | 46 | ||||||||
| 115,800 | Inner Mongolia Junzheng Energy & Chemical Industry Group Co Ltd | 84 | ||||||||
| 88,900 | Inner Mongolia Yili Industrial Group Co Ltd | 518 | ||||||||
| 301,800 | * | Inner Mongolia Yitai Coal Co | 495 | |||||||
| 56,900 | Inner Mongolia Yuan Xing Energy Co Ltd | 90 | ||||||||
| 94,000 | *,g | Innovent Biologics, Inc | 421 | |||||||
| 5,000 | Inspur Electronic Information Industry Co Ltd | 20 | ||||||||
| 3,000 | Intco Medical Technology Co Ltd | 11 | ||||||||
| 29,953 | *,e | IQIYI, Inc (ADR) | 126 | |||||||
| 30,100 | JA Solar Technology Co Ltd | 356 | ||||||||
| 3,760 | Jafron Biomedical Co Ltd | 29 | ||||||||
| 2,210 | Jason Furniture Hangzhou Co Ltd | 19 | ||||||||
| 207 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 102,600 | *,e,g | JD Health International, Inc | $ | 812 | ||||||
| 1,504,605 | JD.com, Inc | 48,483 | ||||||||
| 42,200 | Jiangsu Eastern Shenghong Co Ltd | 107 | ||||||||
| 148,000 | * | Jiangsu Express | 149 | |||||||
| 15,804 | Jiangsu Hengli Hydraulic Co Ltd | 146 | ||||||||
| 38,082 | * | Jiangsu Hengrui Medicine Co Ltd | 211 | |||||||
| 5,900 | Jiangsu King’s Luck Brewery JSC Ltd | 45 | ||||||||
| 20,300 | Jiangsu Yanghe Brewery Joint-Stock Co Ltd | 557 | ||||||||
| 3,000 | Jiangsu Yangnong Chemical Co Ltd | 60 | ||||||||
| 4,700 | Jiangsu Yoke Technology Co Ltd | 39 | ||||||||
| 5,200 | Jiangsu Yuyue Medical Equipment & Supply Co Ltd | 20 | ||||||||
| 46,600 | * | Jiangsu Zhongtian Technology Co Ltd | 161 | |||||||
| 285,000 | Jiangxi Copper Co Ltd | 390 | ||||||||
| 28,958 | Jiangxi Copper Co Ltd (Class A) | 77 | ||||||||
| 20,000 | * | Jiangxi Special Electric Motor Co Ltd | 75 | |||||||
| 13,300 | Jiangxi Zhengbang Technology Co Ltd | 12 | ||||||||
| 44,700 | Jinke Properties Group Co Ltd | 19 | ||||||||
| 142,000 | g | Jinxin Fertility Group Ltd | 131 | |||||||
| 1,900 | JiuGui Liquor Co Ltd | 53 | ||||||||
| 174,000 | e,g | Jiumaojiu International Holdings Ltd | 463 | |||||||
| 87,200 | Jizhong Energy Resources Co Ltd | 97 | ||||||||
| 8,900 | Joincare Pharmaceutical Group Industry Co Ltd | 16 | ||||||||
| 1,540 | Joinn Laboratories China Co Ltd | 26 | ||||||||
| 17,200 | Jointown Pharmaceutical Group Co Ltd | 31 | ||||||||
| 5,200 | * | Jonjee Hi-Tech Industrial And Commercial Holding Co Ltd | 27 | |||||||
| 5,000 | JOYY, Inc (ADR) | 149 | ||||||||
| 2,000 | Juewei Food Co Ltd | 17 | ||||||||
| 19,400 | * | Kanzhun Ltd (ADR) | 510 | |||||||
| 29,600 | * | KE Holdings, Inc (ADR) | 531 | |||||||
| 23,200 | Keda Industrial Group Co Ltd | 72 | ||||||||
| 64,500 | Kingboard Chemical Holdings Ltd | 245 | ||||||||
| 238,000 | * | Kingdee International Software Group Co Ltd | 561 | |||||||
| 26,600 | Kingfa Sci & Tech Co Ltd | 38 | ||||||||
| 88,800 | Kingsoft Corp Ltd | 347 | ||||||||
| 703,600 | *,g | Kuaishou Technology | 7,908 | |||||||
| 13,000 | * | Kuang-Chi Technologies Co Ltd | 34 | |||||||
| 17,297 | Kweichow Moutai Co Ltd | 5,290 | ||||||||
| 10,356,000 | Lenovo Group Ltd | 9,732 | ||||||||
| 82,300 | Lens Technology Co Ltd | 137 | ||||||||
| 1,300 | Lepu Medical Technology Beijing Co Ltd | 4 | ||||||||
| 124,791 | * | Li Auto, Inc (ADR) | 4,781 | |||||||
| 526,500 | Li Ning Co Ltd | 4,902 | ||||||||
| 70,100 | * | Lingyi iTech Guangdong Co | 53 | |||||||
| 2,100 | Livzon Pharmaceutical Group, Inc | 11 | ||||||||
| 134,000 | †,e | Logan Property Holdings Co Ltd | 37 | |||||||
| 32,600 | Lomon Billions Group Co Ltd | 98 | ||||||||
| 425,000 | g | Longfor Properties Co Ltd | 2,021 | |||||||
| 103,389 | LONGi Green Energy Technology Co Ltd | 1,034 | ||||||||
| 77,000 | Lufax Holding Ltd (ADR) | 462 | ||||||||
| 3,570 | Luoyang Xinqianglian Slewing Bearing Co Ltd | 47 | ||||||||
| 35,700 | * | Luxi Chemical Group Co Ltd | 92 | |||||||
| 95,809 | Luxshare Precision Industry Co Ltd | 485 | ||||||||
| 20,000 | Luzhou Laojiao Co Ltd | 738 | ||||||||
| 106,200 | Maanshan Iron & Steel Co Ltd (Class A) | 60 | ||||||||
| 208 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 10,190 | * | Mango Excellent Media Co Ltd | $ | 51 | ||||||
| 6,208 | Maxscend Microelectronics Co Ltd | 126 | ||||||||
| 18,800 | * | Meinian Onehealth Healthcare Holdings Co Ltd | 16 | |||||||
| 935,100 | *,g | Meituan Dianping (Class B) | 23,335 | |||||||
| 88,200 | Metallurgical Corp of China Ltd | 46 | ||||||||
| 51,900 | e | Microport Scientific Corp | 151 | |||||||
| 28,700 | Midea Group Co Ltd | 260 | ||||||||
| 27,700 | Ming Yang Smart Energy Group Ltd | 140 | ||||||||
| 65,000 | e | Ming Yuan Cloud Group Holdings Ltd | 105 | |||||||
| 176,000 | Minth Group Ltd | 482 | ||||||||
| 748,000 | * | MMG Ltd | 278 | |||||||
| 13,528 | * | Montage Technology Co Ltd | 123 | |||||||
| 71,544 | Muyuan Foodstuff Co Ltd | 592 | ||||||||
| 5,589 | Nanjing King-Friend Biochemical Pharmaceutical Co Ltd | 24 | ||||||||
| 14,400 | Nanjing Securities Co Ltd | 18 | ||||||||
| 96,960 | NARI Technology Co Ltd | 392 | ||||||||
| 25,590 | * | National Silicon Industry Group Co Ltd | 88 | |||||||
| 7,100 | NAURA Technology Group Co Ltd | 295 | ||||||||
| 3,500 | NavInfo Co Ltd | 8 | ||||||||
| 482,395 | NetEase, Inc | 9,088 | ||||||||
| 33,600 | New China Life Insurance Co Ltd - A | 162 | ||||||||
| 239,000 | New China Life insurance Co Ltd - H | 673 | ||||||||
| 58,300 | * | New Hope Liuhe Co Ltd | 134 | |||||||
| 36,520 | * | New Oriental Education & Technology Group, Inc (ADR) | 744 | |||||||
| 21,200 | Ninestar Corp | 161 | ||||||||
| 2,600 | Ningbo Deye Technology Co Ltd | 109 | ||||||||
| 3,500 | Ningbo Joyson Electronic Corp | 8 | ||||||||
| 6,900 | Ningbo Orient Wires & Cables Co Ltd | 79 | ||||||||
| 5,713 | Ningbo Ronbay New Energy Technology Co Ltd | 111 | ||||||||
| 28,200 | Ningbo Shanshan Co Ltd | 125 | ||||||||
| 6,100 | Ningbo Tuopu Group Co Ltd | 63 | ||||||||
| 84,400 | Ningxia Baofeng Energy Group Co Ltd | 185 | ||||||||
| 298,430 | * | NIO, Inc (ADR) | 6,482 | |||||||
| 408,200 | e,g | Nongfu Spring Co Ltd | 2,356 | |||||||
| 27,100 | * | North Industries Group Red Arrow Co Ltd | 118 | |||||||
| 5,300 | Northeast Securities Co Ltd | 6 | ||||||||
| 1,105 | NXP Semiconductors NV | 164 | ||||||||
| 167,300 | Offshore Oil Engineering Co Ltd | 104 | ||||||||
| 10,800 | * | OFILM Group Co Ltd | 11 | |||||||
| 6,740 | * | Oppein Home Group, Inc | 152 | |||||||
| 48,128 | Orient Securities Co Ltd | 74 | ||||||||
| 3,809 | Ovctek China, Inc | 33 | ||||||||
| 134,600 | * | Pangang Group Vanadium Titanium & Resources Co Ltd | 77 | |||||||
| 2,232,000 | People’s Insurance Co Group of China Ltd | 683 | ||||||||
| 169,700 | People’s Insurance Co Group of China Ltd (Class A) | 129 | ||||||||
| 11,200 | Perfect World Co Ltd | 24 | ||||||||
| 6,150 | Pharmaron Beijing Co Ltd - A | 88 | ||||||||
| 18,450 | g | Pharmaron Beijing Co Ltd - H | 185 | |||||||
| 1,662,000 | PICC Property & Casualty Co Ltd | 1,733 | ||||||||
| 327,163 | * | Pinduoduo, Inc (ADR) | 20,219 | |||||||
| 105,500 | * | Ping An Bank Co Ltd | 237 | |||||||
| 49,300 | *,e,g | Ping An Healthcare and Technology Co Ltd | 147 | |||||||
| 5,059,203 | Ping An Insurance Group Co of China Ltd | 34,824 | ||||||||
| 158,900 | Ping An Insurance Group Co of China Ltd (Class A) | 1,111 | ||||||||
| 209 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 58,700 | Pingdingshan Tianan Coal Mining Co Ltd | $ | 119 | |||||||
| 170,400 | Poly Real Estate Group Co Ltd | 445 | ||||||||
| 130,800 | e,g | Pop Mart International Group Ltd | 635 | |||||||
| 156,800 | Postal Savings Bank of China Co Ltd - A | 126 | ||||||||
| 6,670,000 | e,g | Postal Savings Bank of China Co Ltd - H | 5,315 | |||||||
| 90,300 | Power Construction Corp of China Ltd | 106 | ||||||||
| 560 | Proya Cosmetics Co Ltd | 14 | ||||||||
| 38,600 | Qingdao Rural Commercial Bank Corp | 19 | ||||||||
| 3,001 | Raytron Technology Co Ltd | 18 | ||||||||
| 12,000 | Riyue Heavy Industry Co Ltd | 46 | ||||||||
| 126,530 | *,e | RLX Technology, Inc (ADR) | 270 | |||||||
| 132,350 | Rongsheng Petro Chemical Co Ltd | 305 | ||||||||
| 111,700 | SAIC Motor Corp Ltd | 298 | ||||||||
| 31,700 | Sailun Group Co Ltd | 54 | ||||||||
| 2,500 | Sangfor Technologies, Inc | 39 | ||||||||
| 260,000 | Sany Heavy Equipment International | 275 | ||||||||
| 112,300 | Sany Heavy Industry Co Ltd | 320 | ||||||||
| 45,600 | SDIC Power Holdings Co Ltd | 72 | ||||||||
| 48,700 | Sealand Securities Co Ltd | 26 | ||||||||
| 224,000 | Seazen Group Ltd | 111 | ||||||||
| 12,500 | Seazen Holdings Co Ltd | 48 | ||||||||
| 26,400 | SF Holding Co Ltd | 220 | ||||||||
| 4,800 | SG Micro Corp | 131 | ||||||||
| 165,900 | Shaanxi Coal Industry Co Ltd | 525 | ||||||||
| 64,400 | * | Shan XI Hua Yang Group New Energy Co Ltd | 149 | |||||||
| 7,670 | Shandong Buchang Pharmaceuticals Co Ltd | 23 | ||||||||
| 62,520 | Shandong Gold Mining Co Ltd - A | 172 | ||||||||
| 182,250 | g | Shandong Gold Mining Co Ltd - H | 316 | |||||||
| 31,850 | Shandong Hualu Hengsheng Chemical Co Ltd | 139 | ||||||||
| 4,400 | Shandong Linglong Tyre Co Ltd | 17 | ||||||||
| 162,400 | Shandong Nanshan Aluminum Co Ltd | 90 | ||||||||
| 4,000 | Shandong Sun Paper Industry JSC Ltd | 7 | ||||||||
| 220,400 | Shandong Weigao Group Medical Polymer Co Ltd | 257 | ||||||||
| 3,332 | Shanghai Bairun Investment Holding Group Co Ltd | 15 | ||||||||
| 4,510 | * | Shanghai Baosight Software Co Ltd | 37 | |||||||
| 95,700 | * | Shanghai Baosight Software Co Ltd | 404 | |||||||
| 51,300 | * | Shanghai Construction Group Co Ltd | 23 | |||||||
| 202,000 | Shanghai Electric Group Co Ltd | 124 | ||||||||
| 8,700 | Shanghai Fosun Pharmaceutical Group Co Ltd - A | 57 | ||||||||
| 210,500 | e | Shanghai Fosun Pharmaceutical Group Co Ltd - H | 783 | |||||||
| 1,183 | Shanghai Friendess Electronic Technology Corp Ltd | 39 | ||||||||
| 6,000 | * | Shanghai International Airport Co Ltd | 51 | |||||||
| 60,700 | Shanghai International Port Group Co Ltd | 53 | ||||||||
| 6,300 | * | Shanghai Jinjiang International Hotels Development Co Ltd | 59 | |||||||
| 8,746 | * | Shanghai Junshi Biosciences Co Ltd | 98 | |||||||
| 10,360 | Shanghai Lingang Holdings Corp Ltd | 21 | ||||||||
| 368,769 | Shanghai Lujiazui Finance & Trade Zone Development Co Ltd | 324 | ||||||||
| 3,400 | Shanghai M&G Stationery, Inc | 29 | ||||||||
| 1,155 | Shanghai Medicilon, Inc | 59 | ||||||||
| 16,700 | Shanghai Pharmaceuticals Holding Co Ltd - A | 45 | ||||||||
| 84,200 | Shanghai Pharmaceuticals Holding Co Ltd - H | 140 | ||||||||
| 160,800 | Shanghai Pudong Development Bank Co Ltd | 193 | ||||||||
| 18,680 | Shanghai Putailai New Energy Technology Co Ltd | 237 | ||||||||
| 48,300 | Shanghai RAAS Blood Products Co Ltd | 43 | ||||||||
| 210 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 20,900 | Shanghai Yuyuan Tourist Mart Group Co Ltd | $ | 29 | |||||||
| 6,400 | Shanghai Zhangjiang High-Tech Park Development Co Ltd | 12 | ||||||||
| 72,779 | Shanxi Lu’an Environmental Energy Development Co Ltd | 159 | ||||||||
| 71,600 | Shanxi Meijin Energy Co Ltd | 131 | ||||||||
| 19,330 | Shanxi Securities Co Ltd | 17 | ||||||||
| 98,200 | Shanxi Taigang Stainless Steel Co Ltd | 80 | ||||||||
| 16,520 | Shanxi Xinghuacun Fen Wine Factory Co Ltd | 803 | ||||||||
| 74,070 | Shanxi Xishan Coal & Electricity Power Co Ltd | 148 | ||||||||
| 22,900 | Shenghe Resources Holding Co Ltd | 77 | ||||||||
| 27,100 | Shengyi Technology Co Ltd | 69 | ||||||||
| 4,680 | Shennan Circuits Co Ltd | 66 | ||||||||
| 119,600 | Shenwan Hongyuan Group Co Ltd | 77 | ||||||||
| 9,280 | Shenzhen Capchem Technology Co Ltd | 73 | ||||||||
| 1,600 | Shenzhen Dynanonic Co Ltd | 98 | ||||||||
| 40,900 | Shenzhen Energy Group Co Ltd | 39 | ||||||||
| 32,900 | Shenzhen Inovance Technology Co Ltd | 325 | ||||||||
| 146,985 | Shenzhen International Holdings Ltd | 145 | ||||||||
| 11,260 | Shenzhen Investment Holdings Bay Area Development Co Ltd | 4 | ||||||||
| 4,640 | Shenzhen Kangtai Biological Products Co Ltd | 31 | ||||||||
| 2,900 | Shenzhen Kedali Industry Co Ltd | 69 | ||||||||
| 6,700 | Shenzhen Mindray Bio-Medical Electronics Co Ltd | 314 | ||||||||
| 7,300 | Shenzhen New Industries Biomedical Engineering Co Ltd | 49 | ||||||||
| 47,500 | Shenzhen Overseas Chinese Town Co Ltd | 46 | ||||||||
| 6,000 | Shenzhen Salubris Pharmaceuticals Co Ltd | 25 | ||||||||
| 4,100 | Shenzhen SC New Energy Technology Corp | 55 | ||||||||
| 15,882 | Shenzhen Senior Technology Material Co Ltd | 69 | ||||||||
| 9,700 | Shenzhen Sunlord Electronics Co Ltd | 40 | ||||||||
| 8,665 | Shenzhen Transsion Holdings Co Ltd | 116 | ||||||||
| 189,200 | Shenzhou International Group Holdings Ltd | 2,309 | ||||||||
| 8,580 | Shijiazhuang Yiling Pharmaceutical Co Ltd | 31 | ||||||||
| 144,500 | †,e | Shimao Property Holdings Ltd | 61 | |||||||
| 24,400 | Sichuan Chuantou Energy Co Ltd | 43 | ||||||||
| 173,300 | Sichuan Hebang Biotechnology Co Ltd | 110 | ||||||||
| 11,900 | Sichuan Kelun Pharmaceutical Co Ltd | 33 | ||||||||
| 18,700 | * | Sichuan New Energy Power Co Ltd | 62 | |||||||
| 62,800 | Sichuan Road & Bridge Co Ltd | 99 | ||||||||
| 2,400 | Sichuan Swellfun Co Ltd | 33 | ||||||||
| 15,300 | Sichuan Yahua Industrial Group Co Ltd | 75 | ||||||||
| 8,000 | Sieyuan Electric Co Ltd | 43 | ||||||||
| 154,400 | Silergy Corp | 12,485 | ||||||||
| 13,900 | * | Sinolink Securities Co Ltd | 19 | |||||||
| 21,400 | Sinoma Science & Technology Co Ltd | 88 | ||||||||
| 5,620 | Sinomine Resource Group Co Ltd | 78 | ||||||||
| 164,000 | Sinopec Shanghai Petrochemical Co Ltd (Class A) | 78 | ||||||||
| 125,200 | Sinopharm Group Co | 303 | ||||||||
| 8,100 | Sinotrans Ltd (Class A) | 5 | ||||||||
| 176,500 | Sinotruk Hong Kong Ltd | 248 | ||||||||
| 4,200 | Skshu Paint Co Ltd | 81 | ||||||||
| 168,000 | e,g | Smoore International Holdings Ltd | 519 | |||||||
| 14,800 | Songcheng Performance Development Co Ltd | 34 | ||||||||
| 28,262 | SooChow Securities Co Ltd | 29 | ||||||||
| 29,700 | Southwest Securities Co Ltd | 18 | ||||||||
| 2,200 | StarPower Semiconductor Ltd | 127 | ||||||||
| 259,500 | e | Sun Art Retail Group Ltd | 85 | |||||||
| 211 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 699,000 | †,e | Sunac China Holdings Ltd | $ | 204 | ||||||
| 16,800 | Sungrow Power Supply Co Ltd | 247 | ||||||||
| 64,800 | Sunny Optical Technology Group Co Ltd | 1,063 | ||||||||
| 11,800 | * | Sunwoda Electronic Co Ltd | 56 | |||||||
| 27,700 | Suzhou Dongshan Precision Manufacturing Co Ltd | 95 | ||||||||
| 1,940 | Suzhou Maxwell Technologies Co Ltd | 143 | ||||||||
| 6,600 | Suzhou TA&A Ultra Clean Technology Co Ltd | 87 | ||||||||
| 99,477 | * | TAL Education Group (ADR) | 484 | |||||||
| 21,400 | Tangshan Jidong Cement Co Ltd | 34 | ||||||||
| 55,000 | TBEA Co Ltd | 226 | ||||||||
| 68,300 | TCL Technology Group Corp | 49 | ||||||||
| 3,172,100 | Tencent Holdings Ltd | 143,586 | ||||||||
| 65,500 | * | Tencent Music Entertainment (ADR) | 329 | |||||||
| 4,400 | Thunder Software Technology Co Ltd | 86 | ||||||||
| 4,900 | * | Tianjin 712 Communication & Broadcasting Co Ltd | 23 | |||||||
| 46,100 | Tianjin Zhonghuan Semiconductor Co Ltd | 406 | ||||||||
| 19,200 | Tianma Microelectronics Co Ltd | 29 | ||||||||
| 40,400 | Tianshan Aluminum Group Co Ltd | 40 | ||||||||
| 65,800 | Tianshui Huatian Technology Co Ltd | 92 | ||||||||
| 13,400 | * | Tibet Summit Resources Co Ltd | 58 | |||||||
| 454,000 | Tingyi Cayman Islands Holding Corp | 780 | ||||||||
| 26,000 | Titan Wind Energy Suzhou Co Ltd | 64 | ||||||||
| 4,956 | Toly Bread Co Ltd | 12 | ||||||||
| 113,200 | * | Tongcheng-Elong Holdings Ltd | 245 | |||||||
| 34,900 | TongFu Microelectronics Co Ltd | 80 | ||||||||
| 28,500 | Tongkun Group Co Ltd | 68 | ||||||||
| 165,800 | Tongling Nonferrous Metals Group Co Ltd | 81 | ||||||||
| 59,200 | Tongwei Co Ltd | 531 | ||||||||
| 1,500 | * | Topchoice Medical Corp | 39 | |||||||
| 391,000 | g | Topsports International Holdings Ltd | 356 | |||||||
| 43,300 | Transfar Zhilian Co Ltd | 42 | ||||||||
| 93,000 | Travelsky Technology Ltd | 181 | ||||||||
| 26,168 | Trina Solar Co Ltd | 256 | ||||||||
| 128,376 | * | Trip.com Group Ltd (ADR) | 3,524 | |||||||
| 128,000 | Tsingtao Brewery Co Ltd | 1,332 | ||||||||
| 3,900 | Tsingtao Brewery Co Ltd (Class A) | 61 | ||||||||
| 8,000 | * | Unigroup Guoxin Microelectronics Co Ltd | 227 | |||||||
| 299,000 | Uni-President China Holdings Ltd | 257 | ||||||||
| 38,700 | * | Unisplendour Corp Ltd | 112 | |||||||
| 569,186 | * | Vipshop Holdings Ltd (ADR) | 5,629 | |||||||
| 8,900 | Walvax Biotechnology Co Ltd | 64 | ||||||||
| 42,300 | Wanhua Chemical Group Co Ltd | 614 | ||||||||
| 1,101,000 | Want Want China Holdings Ltd | 960 | ||||||||
| 6,400 | *,e | Weibo Corp (ADR) | 148 | |||||||
| 178,000 | Weichai Power Co Ltd | 283 | ||||||||
| 34,600 | Weichai Power Co Ltd (Class A) | 65 | ||||||||
| 7,500 | Weihai Guangwei Composites Co Ltd | 66 | ||||||||
| 91,640 | Wens Foodstuffs Group Co Ltd | 292 | ||||||||
| 26,400 | Western Securities Co Ltd | 26 | ||||||||
| 5,887 | * | Western Superconducting Technologies Co Ltd | 81 | |||||||
| 306,000 | Wharf Holdings Ltd | 1,115 | ||||||||
| 11,400 | * | Will Semiconductor Ltd | 296 | |||||||
| 17,000 | Wingtech Technology Co Ltd | 217 | ||||||||
| 17,050 | * | Winning Health Technology Group Co Ltd | 22 | |||||||
| 212 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 694,000 | Winteam Pharmaceutical Group Ltd | $ | 431 | |||||||
| 33,300 | * | Wuchan Zhongda Group Co Ltd | 26 | |||||||
| 30,599 | Wuhan Guide Infrared Co Ltd | 59 | ||||||||
| 15,100 | Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd | 48 | ||||||||
| 53,635 | Wuliangye Yibin Co Ltd | 1,622 | ||||||||
| 23,550 | WUS Printed Circuit Kunshan Co Ltd | 52 | ||||||||
| 13,816 | WuXi AppTec Co Ltd - A | 215 | ||||||||
| 32,685 | g | WuXi AppTec Co Ltd - H | 437 | |||||||
| 956,000 | *,g | Wuxi Biologics Cayman, Inc | 8,858 | |||||||
| 10,300 | Wuxi Lead Intelligent Equipment Co Ltd | 97 | ||||||||
| 3,420 | Wuxi Shangji Automation Co Ltd | 80 | ||||||||
| 102,300 | XCMG Construction Machinery Co Ltd | 83 | ||||||||
| 59,600 | Xiamen C & D, Inc | 116 | ||||||||
| 3,500 | Xiamen Faratronic Co Ltd | 107 | ||||||||
| 3,200 | Xiamen Intretech, Inc | 10 | ||||||||
| 20,600 | Xiamen Tungsten Co Ltd | 67 | ||||||||
| 1,394,400 | *,g | Xiaomi Corp | 2,440 | |||||||
| 53,800 | Xinjiang Goldwind Science & Technology Co Ltd - A | 119 | ||||||||
| 194,800 | Xinjiang Goldwind Science & Technology Co Ltd - H | 365 | ||||||||
| 43,800 | Xinjiang Zhongtai Chemical Co Ltd | 51 | ||||||||
| 448,863 | Xinyi Solar Holdings Ltd | 696 | ||||||||
| 83,189 | * | XPeng, Inc (ADR) | 2,640 | |||||||
| 305,000 | e | XTEP International Holdings | 553 | |||||||
| 108,000 | g | Yadea Group Holdings Ltd | 212 | |||||||
| 6,300 | Yangzhou Yangjie Electronic Technology Co Ltd | 67 | ||||||||
| 32,900 | Yantai Jereh Oilfield Services Group Co Ltd | 198 | ||||||||
| 362,000 | * | Yanzhou Coal Mining Co Ltd | 1,132 | |||||||
| 46,700 | Yanzhou Coal Mining Co Ltd (Class A) | 275 | ||||||||
| 10,250 | Yealink Network Technology Corp Ltd | 117 | ||||||||
| 2,682 | Yifeng Pharmacy Chain Co Ltd | 21 | ||||||||
| 44,000 | Yihai International Holding Ltd | 159 | ||||||||
| 18,900 | * | Yihai Kerry Arawana Holdings Co Ltd | 153 | |||||||
| 29,420 | Yintai Gold Co Ltd | 42 | ||||||||
| 1,007,897 | Yonghui Superstores Co Ltd | 645 | ||||||||
| 5,300 | YongXing Special Materials Technology Co Ltd | 121 | ||||||||
| 18,459 | Yonyou Network Technology Co Ltd | 60 | ||||||||
| 3,400 | * | Youngy Co Ltd | 78 | |||||||
| 17,300 | YTO Express Group Co Ltd | 53 | ||||||||
| 13,500 | * | Yuan Longping High-tech Agriculture Co Ltd | 34 | |||||||
| 370,200 | Yuexiu Property Co Ltd | 476 | ||||||||
| 364,156 | Yum China Holdings, Inc | 17,662 | ||||||||
| 21,980 | Yunda Holding Co Ltd | 56 | ||||||||
| 44,200 | Yunnan Aluminium Co Ltd | 65 | ||||||||
| 9,100 | Yunnan Baiyao Group Co Ltd | 82 | ||||||||
| 3,200 | Yunnan Botanee Bio-Technology Group Co Ltd | 104 | ||||||||
| 11,708 | Yunnan Energy New Material Co Ltd | 439 | ||||||||
| 22,600 | Yunnan Tin Co Ltd | 57 | ||||||||
| 7,878 | * | Zai Lab Ltd (ADR) | 273 | |||||||
| 3,600 | * | Zhangzhou Pientzehuang Pharmaceutical Co Ltd | 192 | |||||||
| 281,500 | Zhaojin Mining Industry Co Ltd | 243 | ||||||||
| 42,300 | Zhefu Holding Group Co Ltd | 30 | ||||||||
| 115,720 | * | Zhejiang Century Huatong Group Co Ltd | 84 | |||||||
| 44,100 | Zhejiang China Commodities City Group Co Ltd | 37 | ||||||||
| 33,100 | Zhejiang Chint Electrics Co Ltd | 177 | ||||||||
| 213 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 38,000 | Zhejiang Dahua Technology Co Ltd | $ | 93 | |||||||
| 6,060 | Zhejiang Dingli Machinery Co Ltd | 46 | ||||||||
| 168,000 | Zhejiang Expressway Co Ltd | 155 | ||||||||
| 4,000 | Zhejiang HangKe Technology, Inc Co | 42 | ||||||||
| 9,350 | * | Zhejiang Huahai Pharmaceutical Co Ltd | 32 | |||||||
| 19,903 | Zhejiang Huayou Cobalt Co Ltd | 285 | ||||||||
| 16,800 | Zhejiang Jingsheng Mechanical & Electrical Co Ltd | 170 | ||||||||
| 5,000 | Zhejiang Jiuzhou Pharmaceutical Co Ltd | 39 | ||||||||
| 47,900 | Zhejiang Juhua Co Ltd | 94 | ||||||||
| 16,704 | Zhejiang NHU Co Ltd | 57 | ||||||||
| 2,107 | Zhejiang Orient Gene Biotech Co Ltd | 36 | ||||||||
| 31,781 | Zhejiang Satellite Petrochemical Co Ltd | 123 | ||||||||
| 6,000 | Zhejiang Semir Garment Co Ltd | 5 | ||||||||
| 3,100 | Zhejiang Supor Co Ltd | 26 | ||||||||
| 14,300 | Zhejiang Weiming Environment Protection Co Ltd | 71 | ||||||||
| 24,300 | Zhejiang Weixing New Building Materials Co Ltd | 87 | ||||||||
| 4,300 | Zhejiang Wolwo Bio-Pharmaceutical Co Ltd | 33 | ||||||||
| 12,500 | Zhejiang Yongtai Technology Co Ltd | 62 | ||||||||
| 18,500 | Zheshang Securities Co Ltd | 32 | ||||||||
| 67,900 | *,e,g | ZhongAn Online P&C Insurance Co Ltd | 222 | |||||||
| 6,800 | Zhongji Innolight Co Ltd | 32 | ||||||||
| 134,000 | Zhongsheng Group Holdings Ltd | 947 | ||||||||
| 67,400 | Zhongtai Securities Co Ltd | 77 | ||||||||
| 7,899 | * | Zhuzhou CRRC Times Electric Co Ltd | 77 | |||||||
| 51,000 | Zhuzhou CSR Times Electric Co Ltd | 252 | ||||||||
| 2,900 | Zhuzhou Hongda Electronics Corp Ltd | 27 | ||||||||
| 32,500 | Zhuzhou Kibing Group Co Ltd | 62 | ||||||||
| 38,500 | Zibo Qixiang Tengda Chemical Co Ltd | 47 | ||||||||
| 1,318,000 | Zijin Mining Group Co Ltd | 1,604 | ||||||||
| 281,500 | Zijin Mining Group Co Ltd (Class A) | 392 | ||||||||
| 91,600 | Zoomlion Heavy Industry Science and Technology Co Ltd - A | 84 | ||||||||
| 122,400 | Zoomlion Heavy Industry Science and Technology Co Ltd - H | 66 | ||||||||
| 56,300 | ZTE Corp | 215 | ||||||||
| 75,600 | ZTE Corp (Class H) | 177 | ||||||||
| 161,229 | ZTO Express Cayman, Inc (ADR) | 4,426 | ||||||||
| TOTAL CHINA | 681,526 | |||||||||
| COLOMBIA - 0.0% | ||||||||||
| 20,659 | BanColombia S.A. | 167 | ||||||||
| 101,099 | BanColombia S.A. (Preference) | 772 | ||||||||
| 1,355,902 | Ecopetrol S.A. | 736 | ||||||||
| 99,693 | Interconexion Electrica S.A. | 492 | ||||||||
| TOTAL COLOMBIA | 2,167 | |||||||||
| CZECH REPUBLIC - 0.0% | ||||||||||
| 37,391 | CEZ AS | 1,687 | ||||||||
| 6,808 | Komercni Banka AS | 193 | ||||||||
| 24,644 | g | Moneta Money Bank AS | 89 | |||||||
| TOTAL CZECH REPUBLIC | 1,969 | |||||||||
| DENMARK - 0.5% | ||||||||||
| 109,774 | Carlsberg AS (Class B) | 14,029 | ||||||||
| 817,017 | Novo Nordisk AS | 90,609 | ||||||||
| 214 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 81,885 | g | Orsted AS | $ | 8,625 | ||||||
| TOTAL DENMARK | 113,263 | |||||||||
| EGYPT - 0.0% | ||||||||||
| 156,018 | Commercial International Bank | 309 | ||||||||
| 384,062 | Eastern Tobacco | 210 | ||||||||
| 94,526 | * | Egyptian Financial Group-Hermes Holding | 60 | |||||||
| 221,458 | * | Fawry for Banking & Payment Technology Services SAE | 42 | |||||||
| TOTAL EGYPT | 621 | |||||||||
| FINLAND - 0.3% | ||||||||||
| 2,754,002 | Nordea Bank Abp | 24,354 | ||||||||
| 1,843,939 | Nordea Bank Abp | 16,288 | ||||||||
| 401,942 | Sampo Oyj (A Shares) | 17,565 | ||||||||
| 87,000 | Stora Enso Oyj (R Shares) | 1,379 | ||||||||
| 138,439 | UPM-Kymmene Oyj | 4,245 | ||||||||
| TOTAL FINLAND | 63,831 | |||||||||
| FRANCE - 2.7% | ||||||||||
| 364,084 | * | Accor S.A. | 9,933 | |||||||
| 54,989 | Air Liquide | 7,402 | ||||||||
| 974,511 | Airbus SE | 95,317 | ||||||||
| 329,112 | Cap Gemini S.A. | 56,759 | ||||||||
| 465,716 | e | Cie Generale des Etablissements Michelin S.C.A | 12,719 | |||||||
| 575,413 | Compagnie de Saint-Gobain | 24,863 | ||||||||
| 305,532 | Danone | 17,110 | ||||||||
| 136,099 | e | Electricite de France | 1,118 | |||||||
| 824,093 | Engie S.A. | 9,542 | ||||||||
| 251,526 | Essilor International S.A. | 38,135 | ||||||||
| 12,855 | * | Euroapi S.A. | 203 | |||||||
| 7,543 | e | Gecina S.A. | 708 | |||||||
| 10,151 | e | Icade | 498 | |||||||
| 123,583 | Kering | 64,044 | ||||||||
| 179,321 | L’Oreal S.A. | 62,261 | ||||||||
| 58,135 | LVMH Moet Hennessy Louis Vuitton S.A. | 35,630 | ||||||||
| 382,984 | Orange S. A. | 4,513 | ||||||||
| 9,901 | Pernod-Ricard S.A. | 1,830 | ||||||||
| 295,678 | Sanofi-Aventis | 29,818 | ||||||||
| 147,252 | Teleperformance | 45,469 | ||||||||
| 572,557 | e | Total S.A. | 30,138 | |||||||
| 922,258 | Valeo S.A. | 17,971 | ||||||||
| 128,396 | * | Veolia Environnement | 3,147 | |||||||
| 1,610,146 | Vivendi Universal S.A. | 16,431 | ||||||||
| TOTAL FRANCE | 585,559 | |||||||||
| GERMANY - 2.3% | ||||||||||
| 68,950 | Adidas-Salomon AG. | 12,248 | ||||||||
| 49,150 | Allianz AG. | 9,422 | ||||||||
| 565,982 | e | Aroundtown S.A. | 1,810 | |||||||
| 60,579 | BASF SE | 2,650 | ||||||||
| 2,484,770 | Bayer AG. | 148,381 | ||||||||
| 252,310 | Beiersdorf AG. | 25,891 | ||||||||
| 60,172 | BioNTech SE (ADR) | 8,972 | ||||||||
| 745,646 | * | Borussia Dortmund GmbH & Co KGaA | 2,809 | |||||||
| 215 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 127,342 | Deutsche Annington Immobilien SE | $ | 3,940 | |||||||
| 105,213 | Deutsche Boerse AG. | 17,668 | ||||||||
| 736,367 | Deutsche Telekom AG. | 14,646 | ||||||||
| 469,634 | E.ON AG. | 3,956 | ||||||||
| 583,808 | HeidelbergCement AG. | 28,187 | ||||||||
| 382,531 | * | HelloFresh SE | 12,480 | |||||||
| 41,358 | Henkel KGaA | 2,541 | ||||||||
| 1,124,853 | Infineon Technologies AG. | 27,363 | ||||||||
| 13,203 | LEG Immobilien AG. | 1,099 | ||||||||
| 1,073 | OSRAM Licht AG. | 61 | ||||||||
| 765,376 | * | Paion AG. | 739 | |||||||
| 1,882,073 | RWE AG. | 69,610 | ||||||||
| 795,400 | Siemens AG. | 81,764 | ||||||||
| 213,365 | g | Siemens Healthineers AG. | 10,879 | |||||||
| TOTAL GERMANY | 487,116 | |||||||||
| GREECE - 0.0% | ||||||||||
| 196,551 | * | Alpha Bank AE | 174 | |||||||
| 218,050 | * | Eurobank Ergasias S.A. | 195 | |||||||
| 5,760 | *,† | FF Group | 0^ | |||||||
| 49,003 | Hellenic Telecommunications Organization S.A. | 856 | ||||||||
| 24,751 | JUMBO S.A. | 360 | ||||||||
| 15,254 | Mytilineos Holdings S.A. | 226 | ||||||||
| 48,671 | * | National Bank of Greece S.A. | 146 | |||||||
| 44,836 | OPAP S.A. | 645 | ||||||||
| 43,523 | * | Public Power Corp | 241 | |||||||
| TOTAL GREECE | 2,843 | |||||||||
| HONG KONG - 0.4% | ||||||||||
| 2,724,700 | AIA Group Ltd | 29,772 | ||||||||
| 1,070,000 | * | Alibaba Pictures Group Ltd | 105 | |||||||
| 295,600 | Bank of East Asia Ltd | 416 | ||||||||
| 230,000 | * | Cathay Pacific Airways Ltd | 253 | |||||||
| 115,230 | CK Infrastructure Holdings Ltd | 708 | ||||||||
| 359,000 | CLP Holdings Ltd | 2,983 | ||||||||
| 753,000 | Hang Lung Properties Ltd | 1,433 | ||||||||
| 172,300 | Hang Seng Bank Ltd | 3,053 | ||||||||
| 282,000 | Henderson Land Development Co Ltd | 1,060 | ||||||||
| 2,286,806 | Hong Kong & China Gas Ltd | 2,468 | ||||||||
| 265,712 | Hong Kong Electric Holdings Ltd | 1,674 | ||||||||
| 271,482 | Hong Kong Exchanges and Clearing Ltd | 13,426 | ||||||||
| 471,500 | Hongkong Land Holdings Ltd | 2,368 | ||||||||
| 11,722 | * | Jinmao Property Services Co Ltd | 7 | |||||||
| 227,500 | Kingboard Laminates Holdings Ltd | 281 | ||||||||
| 282,900 | Link REIT | 2,312 | ||||||||
| 792,345 | * | Melco Crown Entertainment Ltd (ADR) | 4,556 | |||||||
| 329,000 | New World Development Co Ltd | 1,185 | ||||||||
| 449,000 | Nine Dragons Paper Holdings Ltd | 381 | ||||||||
| 30,500 | Orient Overseas International Ltd | 813 | ||||||||
| 614,236 | Prudential plc | 7,641 | ||||||||
| 964,250 | Sino Biopharmaceutical | 615 | ||||||||
| 285,500 | Sun Hung Kai Properties Ltd | 3,380 | ||||||||
| 80,000 | e | Vinda International Holdings Ltd | 205 | |||||||
| 216 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 3,544,000 | g | WH Group Ltd | $ | 2,743 | ||||||
| 234,000 | Wharf Real Estate Investment Co Ltd | 1,117 | ||||||||
| TOTAL HONG KONG | 84,955 | |||||||||
| HUNGARY - 0.0% | ||||||||||
| 115,818 | MOL Hungarian Oil & Gas plc | 896 | ||||||||
| 18,364 | OTP Bank | 412 | ||||||||
| 80,846 | Richter Gedeon Rt | 1,463 | ||||||||
| TOTAL HUNGARY | 2,771 | |||||||||
| INDIA - 1.0% | ||||||||||
| 61,238 | Adani Enterprises Ltd | 1,705 | ||||||||
| 61,305 | * | Adani Gas Ltd | 1,862 | |||||||
| 69,189 | * | Adani Green Energy Ltd | 1,699 | |||||||
| 115,052 | * | Adani Ports & Special Economic Zone Ltd | 982 | |||||||
| 170,946 | * | Adani Power Ltd | 574 | |||||||
| 61,134 | * | Adani Transmissions Ltd | 1,924 | |||||||
| 133,749 | Ambuja Cements Ltd | 617 | ||||||||
| 54,766 | Apollo Hospitals Enterprise Ltd | 2,562 | ||||||||
| 88,187 | Asian Paints Ltd | 3,019 | ||||||||
| 16,895 | Associated Cement Co Ltd | 456 | ||||||||
| 23,913 | *,g | AU Small Finance Bank Ltd | 180 | |||||||
| 25,238 | Aurobindo Pharma Ltd | 164 | ||||||||
| 37,462 | *,g | Avenue Supermarts Ltd | 1,622 | |||||||
| 538,590 | Axis Bank Ltd | 4,363 | ||||||||
| 62,940 | Bajaj Finance Ltd | 4,331 | ||||||||
| 3,477 | Bajaj Finserv Ltd | 484 | ||||||||
| 15,803 | Bajaj Holdings and Investment Ltd | 744 | ||||||||
| 18,900 | Balkrishna Industries Ltd | 517 | ||||||||
| 56,726 | g | Bandhan Bank Ltd | 190 | |||||||
| 53,978 | Berger Paints India Ltd | 390 | ||||||||
| 273,082 | Bharat Electronics Ltd | 810 | ||||||||
| 54,203 | Bharat Forge Ltd | 449 | ||||||||
| 217,030 | Bharat Petroleum Corp Ltd | 850 | ||||||||
| 498,058 | * | Bharti Airtel Ltd | 4,332 | |||||||
| 92,064 | Biocon Ltd | 360 | ||||||||
| 25,197 | Britannia Industries Ltd | 1,109 | ||||||||
| 88,102 | Cholamandalam Investment and Finance Co Ltd | 694 | ||||||||
| 43,222 | Cipla Ltd | 503 | ||||||||
| 396,721 | Coal India Ltd | 934 | ||||||||
| 27,629 | Colgate-Palmolive India Ltd | 521 | ||||||||
| 59,450 | Container Corp Of India Ltd | 449 | ||||||||
| 141,623 | Dabur India Ltd | 891 | ||||||||
| 12,087 | Divi S Laboratories Ltd | 557 | ||||||||
| 141,831 | DLF Ltd | 564 | ||||||||
| 37,397 | Dr Reddy’s Laboratories Ltd | 2,085 | ||||||||
| 31,108 | Eicher Motors Ltd | 1,105 | ||||||||
| 383,270 | GAIL India Ltd | 658 | ||||||||
| 86,012 | * | Godrej Consumer Products Ltd | 828 | |||||||
| 23,601 | * | Godrej Properties Ltd | 355 | |||||||
| 58,311 | Grasim Industries Ltd | 979 | ||||||||
| 51,319 | Havells India Ltd | 717 | ||||||||
| 99,168 | HCL Technologies Ltd | 1,228 | ||||||||
| 208,939 | g | HDFC Life Insurance Co Ltd | 1,459 | |||||||
| 217 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 27,295 | Hero Honda Motors Ltd | $ | 944 | |||||||
| 304,804 | Hindalco Industries Ltd | 1,314 | ||||||||
| 189,448 | Hindustan Lever Ltd | 5,372 | ||||||||
| 168,414 | Hindustan Petroleum Corp Ltd | 465 | ||||||||
| 323,551 | Housing Development Finance Corp | 8,952 | ||||||||
| 1,576,220 | ICICI Bank Ltd | 14,161 | ||||||||
| 51,302 | g | ICICI Lombard General Insurance Co Ltd | 730 | |||||||
| 76,383 | g | ICICI Prudential Life Insurance Co Ltd | 475 | |||||||
| 249,726 | * | Indian Oil Corp Ltd | 236 | |||||||
| 499,452 | Indian Oil Corp Ltd | 471 | ||||||||
| 49,981 | Indian Railway Catering & Tourism Corp Ltd | 366 | ||||||||
| 66,744 | Indraprastha Gas Ltd | 301 | ||||||||
| 157,389 | Indus Towers Ltd | 418 | ||||||||
| 17,411 | Info Edge India Ltd | 831 | ||||||||
| 890,871 | Infosys Technologies Ltd | 16,558 | ||||||||
| 19,243 | *,g | InterGlobe Aviation Ltd | 394 | |||||||
| 679,589 | ITC Ltd | 2,361 | ||||||||
| 84,839 | Jindal Steel & Power Ltd | 355 | ||||||||
| 159,732 | JSW Steel Ltd | 1,147 | ||||||||
| 88,750 | Jubilant Foodworks Ltd | 579 | ||||||||
| 50,119 | Kotak Mahindra Bank Ltd | 1,060 | ||||||||
| 11,758 | g | Larsen & Toubro Infotech Ltd | 595 | |||||||
| 157,084 | Larsen & Toubro Ltd | 3,114 | ||||||||
| 19,041 | Lupin Ltd | 148 | ||||||||
| 200,296 | Mahindra & Mahindra Ltd | 2,786 | ||||||||
| 119,560 | Marico Ltd | 725 | ||||||||
| 29,958 | Maruti Suzuki India Ltd | 3,229 | ||||||||
| 390,084 | MindTree Ltd | 14,332 | ||||||||
| 294,149 | Motherson Sumi Systems Ltd | 442 | ||||||||
| 171,835 | * | Motherson Sumi Wiring India Lt | 153 | |||||||
| 18,928 | Mphasis Ltd | 552 | ||||||||
| 429 | MRF Ltd | 385 | ||||||||
| 9,618 | Muthoot Finance Ltd | 119 | ||||||||
| 7,789 | Nestle India Ltd | 1,728 | ||||||||
| 916,384 | NTPC Ltd | 1,661 | ||||||||
| 1,302 | Page Industries Ltd | 664 | ||||||||
| 199,724 | Petronet LNG Ltd | 550 | ||||||||
| 16,789 | PI Industries Ltd | 546 | ||||||||
| 34,890 | Pidilite Industries Ltd | 925 | ||||||||
| 126,347 | Piramal Healthcare Ltd | 2,662 | ||||||||
| 734,775 | Power Grid Corp of India Ltd | 1,977 | ||||||||
| 679,702 | * | Reliance Industries Ltd | 22,443 | |||||||
| 21,751 | SBI Cards & Payment Services Ltd | 212 | ||||||||
| 101,022 | g | SBI Life Insurance Co Ltd | 1,387 | |||||||
| 189,026 | Sesa Sterlite Ltd | 535 | ||||||||
| 2,459 | Shree Cement Ltd | 594 | ||||||||
| 17,027 | Shriram Transport Finance Co Ltd | 278 | ||||||||
| 15,504 | Siemens India Ltd | 472 | ||||||||
| 32,954 | SRF Ltd | 944 | ||||||||
| 1,029,502 | State Bank of India | 6,106 | ||||||||
| 553,132 | Sun Pharmaceutical Industries Ltd | 5,826 | ||||||||
| 176,870 | Tata Consultancy Services Ltd | 7,345 | ||||||||
| 7,380 | Tata Elxsi Ltd | 767 | ||||||||
| 383,055 | * | Tata Motors Ltd | 1,997 | |||||||
| 218 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 330,652 | Tata Power Co Ltd | $ | 850 | |||||||
| 165,413 | Tata Steel Ltd | 1,824 | ||||||||
| 121,440 | Tata Tea Ltd | 1,090 | ||||||||
| 53,417 | Tech Mahindra Ltd | 680 | ||||||||
| 81,201 | Titan Industries Ltd | 2,001 | ||||||||
| 11,050 | Torrent Pharmaceuticals Ltd | 401 | ||||||||
| 39,901 | Trent Ltd | 545 | ||||||||
| 22,778 | Ultra Tech Cement Ltd | 1,624 | ||||||||
| 65,372 | * | United Spirits Ltd | 631 | |||||||
| 114,778 | UPL Ltd | 922 | ||||||||
| 124,165 | Wipro Ltd | 657 | ||||||||
| 1,025,414 | * | Yes Bank Ltd | 165 | |||||||
| 370,056 | * | Zomato Ltd | 254 | |||||||
| TOTAL INDIA | 206,155 | |||||||||
| INDONESIA - 0.2% | ||||||||||
| 3,683,300 | Adaro Energy Tbk | 709 | ||||||||
| 1,786,200 | * | ADARO MINERALS INDONESIA TBK PT | 189 | |||||||
| 9,865,100 | Astra International Tbk PT | 4,396 | ||||||||
| 13,547,100 | Bank Central Asia Tbk PT | 6,597 | ||||||||
| 380,400 | * | Bank Jago Tbk PT | 234 | |||||||
| 78,783,393 | Bank Rakyat Indonesia | 22,001 | ||||||||
| 510,800 | Indofood CBP Sukses Makmur Tbk | 328 | ||||||||
| 4,846,100 | Kalbe Farma Tbk PT | 541 | ||||||||
| 2,664,688 | * | Merdeka Copper Gold Tbk PT | 714 | |||||||
| 1,876,700 | PT Aneka Tambang Tbk | 227 | ||||||||
| 4,947,647 | PT Bank Mandiri Persero Tbk | 2,642 | ||||||||
| 9,034,900 | PT Bank Negara Indonesia | 4,773 | ||||||||
| 6,075,400 | PT Barito Pacific Tbk | 308 | ||||||||
| 1,688,400 | PT Charoen Pokphand Indonesia Tbk | 680 | ||||||||
| 106,900 | PT Gudang Garam Tbk | 224 | ||||||||
| 617,300 | PT Indah Kiat Pulp and Paper Corp Tbk | 315 | ||||||||
| 981,900 | PT Indofood Sukses Makmur Tbk | 465 | ||||||||
| 679,500 | PT Semen Gresik Persero Tbk | 325 | ||||||||
| 3,850,200 | PT Sumber Alfaria Trijaya Tbk | 528 | ||||||||
| 1,749,000 | PT Unilever Indonesia Tbk | 561 | ||||||||
| 395,100 | PT United Tractors Tbk | 755 | ||||||||
| 517,200 | * | PT Vale Indonesia Tbk | 197 | |||||||
| 5,105,800 | Sarana Menara Nusantara Tbk PT | 377 | ||||||||
| 11,485,800 | Telkom Indonesia Persero Tbk PT | 3,090 | ||||||||
| 1,642,400 | Tower Bersama Infrastructure | 325 | ||||||||
| TOTAL INDONESIA | 51,501 | |||||||||
| IRELAND - 0.6% | ||||||||||
| 8,602,232 | AIB Group plc | 19,633 | ||||||||
| 3,230,222 | Bank of Ireland Group plc | 20,417 | ||||||||
| 1,316,453 | CRH plc | 45,429 | ||||||||
| 214,346 | * | Flutter Entertainment plc | 21,654 | |||||||
| 16,271 | Kerry Group plc (Class A) | 1,556 | ||||||||
| 428,877 | Keywords Studios plc | 11,457 | ||||||||
| 29,193 | * | Prothena Corp plc | 793 | |||||||
| 493,757 | Smurfit Kappa Group plc | 16,651 | ||||||||
| TOTAL IRELAND | 137,590 | |||||||||
| 219 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| ISRAEL - 0.0% | ||||||||||
| 255,946 | Bank Hapoalim Ltd | $ | 2,149 | |||||||
| 327,487 | Bank Leumi Le-Israel | 2,930 | ||||||||
| 262,371 | Israel Discount Bank Ltd | 1,374 | ||||||||
| 31,602 | Mizrahi Tefahot Bank Ltd | 1,052 | ||||||||
| TOTAL ISRAEL | 7,505 | |||||||||
| ITALY - 0.8% | ||||||||||
| 421,320 | Amplifon S.p.A. | 12,953 | ||||||||
| 3,810,794 | Davide Campari-Milano NV | 40,203 | ||||||||
| 8,251,944 | Enel S.p.A. | 45,255 | ||||||||
| 129,794 | Ferrari NV | 23,887 | ||||||||
| 2,970,705 | Intesa Sanpaolo S.p.A. | 5,560 | ||||||||
| 719,845 | Moncler S.p.A | 31,015 | ||||||||
| 2,019,481 | Prada S.p.A | 11,357 | ||||||||
| TOTAL ITALY | 170,230 | |||||||||
| JAPAN - 5.0% | ||||||||||
| 89,900 | Acom Co Ltd | 210 | ||||||||
| 325 | Activia Properties Inc | 971 | ||||||||
| 300 | Aeon Mall Co Ltd | 4 | ||||||||
| 345,100 | Aisin Seiki Co Ltd | 10,681 | ||||||||
| 10,608 | * | All Nippon Airways Co Ltd | 196 | |||||||
| 26,600 | e | Aozora Bank Ltd | 518 | |||||||
| 205,100 | Asahi Intecc Co Ltd | 3,105 | ||||||||
| 232,179 | Asahi Kasei Corp | 1,766 | ||||||||
| 481,700 | Astellas Pharma, Inc | 7,515 | ||||||||
| 12,800 | Bank of Kyoto Ltd | 548 | ||||||||
| 46,000 | BayCurrent Consulting, Inc | 12,298 | ||||||||
| 445,100 | Benefit One, Inc | 6,030 | ||||||||
| 71,737 | Central Japan Railway Co | 8,245 | ||||||||
| 119,400 | Chiba Bank Ltd | 654 | ||||||||
| 164,700 | Chubu Electric Power Co, Inc | 1,658 | ||||||||
| 231,600 | Concordia Financial Group Ltd | 804 | ||||||||
| 76,800 | Daifuku Co Ltd | 4,395 | ||||||||
| 243,000 | Dai-ichi Mutual Life Insurance Co | 4,494 | ||||||||
| 2,230,991 | Daiichi Sankyo Co Ltd | 56,740 | ||||||||
| 101,831 | Daikin Industries Ltd | 16,350 | ||||||||
| 7,100 | Daito Trust Construction Co Ltd | 614 | ||||||||
| 322 | Daiwa House REIT Investment Corp | 732 | ||||||||
| 325,500 | * | Daiwa Securities Group, Inc | 1,457 | |||||||
| 150,086 | East Japan Railway Co | 7,677 | ||||||||
| 559,100 | ENEOS Holdings, Inc | 2,104 | ||||||||
| 7,000 | Fast Retailing Co Ltd | 3,677 | ||||||||
| 38,700 | Fukuoka Financial Group, Inc | 697 | ||||||||
| 157,099 | GMO Payment Gateway, Inc | 11,190 | ||||||||
| 275,700 | * | Hitachi Construction Machinery Co Ltd | 6,124 | |||||||
| 1,588,864 | * | Hitachi Ltd | 75,582 | |||||||
| 37,285 | * | Hitachi Metals Ltd | 564 | |||||||
| 155,200 | Hulic Co Ltd | 1,204 | ||||||||
| 751 | Hulic Reit, Inc | 886 | ||||||||
| 38,937 | Idemitsu Kosan Co Ltd | 930 | ||||||||
| 4,461,700 | Infomart Corp | 12,460 | ||||||||
| 172,074 | Inpex Holdings, Inc | 1,845 | ||||||||
| 220 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 8 | Invincible Investment Corp | $ | 2 | |||||||
| 371,700 | Japan Elevator Service Holdings Co Ltd | 3,888 | ||||||||
| 91,100 | Japan Post Bank Co Ltd | 709 | ||||||||
| 355,000 | Japan Post Holdings Co Ltd | 2,540 | ||||||||
| 50,600 | Japan Post Insurance Co Ltd | 810 | ||||||||
| 4 | Japan Retail Fund Investment Corp | 3 | ||||||||
| 220,840 | e | Japan Tobacco, Inc | 3,827 | |||||||
| 94,509 | JFE Holdings, Inc | 994 | ||||||||
| 473,600 | JGC Corp | 6,083 | ||||||||
| 35,973 | JSR Corp | 935 | ||||||||
| 318,400 | Kansai Electric Power Co, Inc | 3,152 | ||||||||
| 37,701 | Kansai Paint Co Ltd | 481 | ||||||||
| 107,600 | Kao Corp | 4,363 | ||||||||
| 347,400 | KDDI Corp | 10,955 | ||||||||
| 66 | Kenedix Realty Investment Corp | 332 | ||||||||
| 209,000 | Mebuki Financial Group Inc | 412 | ||||||||
| 258,301 | Mitsubishi Chemical Holdings Corp | 1,404 | ||||||||
| 366,373 | Mitsubishi Estate Co Ltd | 5,310 | ||||||||
| 33,100 | Mitsubishi Gas Chemical Co, Inc | 479 | ||||||||
| 2,755,300 | Mitsubishi UFJ Financial Group, Inc | 14,741 | ||||||||
| 90,700 | Mitsubishi UFJ Lease & Finance Co Ltd | 419 | ||||||||
| 867,800 | Mitsui & Co Ltd | 19,069 | ||||||||
| 33,801 | Mitsui Chemicals, Inc | 721 | ||||||||
| 7,750 | Mitsui Fudosan Co Ltd | 167 | ||||||||
| 1,207 | Mitsui Fudosan Logistics Park, Inc | 4,566 | ||||||||
| 543,700 | Mizuho Financial Group, Inc | 6,190 | ||||||||
| 1,273,650 | MonotaRO Co Ltd | 18,995 | ||||||||
| 284 | Mori Hills REIT Investment Corp | 319 | ||||||||
| 100,200 | MS&AD Insurance Group Holdings Inc | 3,072 | ||||||||
| 171,700 | Murata Manufacturing Co Ltd | 9,345 | ||||||||
| 2,118,600 | Nexon Co Ltd | 43,505 | ||||||||
| 1,120,900 | Nikon Corp | 12,926 | ||||||||
| 139,000 | Nintendo Co Ltd | 59,778 | ||||||||
| 145,500 | Nippon Paint Co Ltd | 1,089 | ||||||||
| 139,101 | Nippon Steel Corp | 1,947 | ||||||||
| 271,200 | Nippon Telegraph & Telephone Corp | 7,792 | ||||||||
| 22,239 | Nissan Chemical Industries Ltd | 1,026 | ||||||||
| 29,800 | Nitto Denko Corp | 1,927 | ||||||||
| 708,700 | * | Nomura Holdings, Inc | 2,575 | |||||||
| 772 | Nomura Real Estate Master Fund, Inc | 964 | ||||||||
| 147,795 | OJI Paper Co Ltd | 640 | ||||||||
| 138,111 | Omron Corp | 7,029 | ||||||||
| 35,800 | Oriental Land Co Ltd | 5,000 | ||||||||
| 296,000 | ORIX Corp | 4,961 | ||||||||
| 522 | Orix JREIT, Inc | 709 | ||||||||
| 114,700 | Osaka Securities Exchange Co Ltd | 1,663 | ||||||||
| 167,200 | Paltac Corp | 5,195 | ||||||||
| 480,500 | Panasonic Corp | 3,880 | ||||||||
| 2,668,700 | Recruit Holdings Co Ltd | 78,594 | ||||||||
| 3,410,700 | * | Renesas Electronics Corp | 30,865 | |||||||
| 471,400 | Resona Holdings, Inc | 1,763 | ||||||||
| 53,100 | * | SBI Holdings, Inc | 1,038 | |||||||
| 138,200 | Sekisui House Ltd | 2,426 | ||||||||
| 109,200 | Seven & I Holdings Co Ltd | 4,237 | ||||||||
| 221 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 132,900 | Seven Bank Ltd | $ | 254 | |||||||
| 106,298 | * | SHIFT, Inc | 13,940 | |||||||
| 54,100 | Shin-Etsu Chemical Co Ltd | 6,081 | ||||||||
| 34,900 | * | Shinsei Bank Ltd | 526 | |||||||
| 23,300 | Shiseido Co Ltd | 939 | ||||||||
| 93,800 | Shizuoka Bank Ltd | 565 | ||||||||
| 485,300 | SMS Co Ltd | 9,627 | ||||||||
| 75,600 | Sompo Holdings, Inc | 3,339 | ||||||||
| 2,170,065 | Sony Corp | 176,983 | ||||||||
| 3,296 | Star Asia Investment Corp | 1,492 | ||||||||
| 290,000 | Sumitomo Chemical Co Ltd | 1,135 | ||||||||
| 94,401 | Sumitomo Heavy Industries Ltd | 2,090 | ||||||||
| 45,100 | Sumitomo Metal Mining Co Ltd | 1,398 | ||||||||
| 1,445,301 | Sumitomo Mitsui Financial Group, Inc | 42,962 | ||||||||
| 76,100 | Sumitomo Mitsui Trust Holdings, Inc | 2,352 | ||||||||
| 20 | Sumitomo Realty & Development Co Ltd | 1 | ||||||||
| 121,100 | T&D Holdings, Inc | 1,450 | ||||||||
| 21,782 | Taiyo Nippon Sanso Corp | 349 | ||||||||
| 350,000 | Takeda Pharmaceutical Co Ltd | 9,831 | ||||||||
| 646,697 | TechnoPro Holdings, Inc | 12,982 | ||||||||
| 142,200 | Tokio Marine Holdings, Inc | 8,292 | ||||||||
| 9,500 | Tokyo Century Corp | 316 | ||||||||
| 327,400 | * | Tokyo Electric Power Co, Inc | 1,370 | |||||||
| 172,800 | Tokyo Gas Co Ltd | 3,581 | ||||||||
| 251,900 | e | Tokyo Tatemono Co Ltd | 3,475 | |||||||
| 265,701 | Toray Industries, Inc | 1,496 | ||||||||
| 53,321 | Tosoh Corp | 663 | ||||||||
| 7,242,210 | * | Toyota Motor Corp | 111,742 | |||||||
| 479 | United Urban Investment Corp | 504 | ||||||||
| TOTAL JAPAN | 1,090,472 | |||||||||
| KOREA, REPUBLIC OF - 1.3% | ||||||||||
| 2,468 | * | Alteogen, Inc | 116 | |||||||
| 7,144 | Amorepacific Corp | 718 | ||||||||
| 1,871 | BGF retail Co Ltd | 273 | ||||||||
| 7,362 | Celltrion Healthcare Co Ltd | 391 | ||||||||
| 1,230 | * | Celltrion Pharm Inc | 75 | |||||||
| 21,999 | Celltrion, Inc | 3,037 | ||||||||
| 14,910 | Cheil Communications, Inc | 274 | ||||||||
| 1,849 | CJ CheilJedang Corp | 541 | ||||||||
| 3,252 | CJ Corp | 195 | ||||||||
| 2,551 | CJ O Shopping Co Ltd | 185 | ||||||||
| 62,427 | * | Coupang, Inc | 796 | |||||||
| 12,615 | Coway Co Ltd | 624 | ||||||||
| 10,536 | Dongbu Insurance Co Ltd | 499 | ||||||||
| 11,337 | Doosan Bobcat, Inc | 254 | ||||||||
| 36,420 | * | Doosan Heavy Industries and Construction Co Ltd | 547 | |||||||
| 10,960 | Ecopro BM Co Ltd | 966 | ||||||||
| 4,691 | E-Mart Co Ltd | 383 | ||||||||
| 3,748 | F&F Co Ltd | 390 | ||||||||
| 547 | Green Cross Corp | 71 | ||||||||
| 5,755 | GS Engineering & Construction Corp | 140 | ||||||||
| 11,330 | GS Holdings Corp | 366 | ||||||||
| 27,346 | Hana Financial Group, Inc | 831 | ||||||||
| 222 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 16,592 | Hankook Tire Co Ltd | $ | 423 | |||||||
| 614 | Hanmi Pharm Co Ltd | 146 | ||||||||
| 40,358 | Hanon Systems | 314 | ||||||||
| 26,060 | * | Hanwha Chemical Corp | 763 | |||||||
| 21,066 | * | HLB, Inc | 577 | |||||||
| 3,974 | Honam Petrochemical Corp | 554 | ||||||||
| 6,831 | Hotel Shilla Co Ltd | 376 | ||||||||
| 3,572 | * | HYBE Co Ltd | 401 | |||||||
| 213,845 | Hynix Semiconductor, Inc | 15,100 | ||||||||
| 7,408 | Hyundai Engineering & Construction Co Ltd | 237 | ||||||||
| 4,185 | Hyundai Glovis Co Ltd | 582 | ||||||||
| 3,591 | * | Hyundai Heavy Industries | 261 | |||||||
| 3,862 | * | Hyundai Heavy Industries Co Ltd | 426 | |||||||
| 24,124 | Hyundai Merchant Marine Co Ltd | 459 | ||||||||
| 14,866 | Hyundai Mobis | 2,291 | ||||||||
| 31,744 | Hyundai Motor Co | 4,436 | ||||||||
| 8,334 | Hyundai Motor Co Ltd (2nd Preference) | 563 | ||||||||
| 5,244 | Hyundai Motor Co Ltd (Preference) | 352 | ||||||||
| 4,801 | Hyundai Robotics Co Ltd | 221 | ||||||||
| 19,952 | Hyundai Steel Co | 495 | ||||||||
| 4,956 | Iljin Materials Co Ltd | 268 | ||||||||
| 21,991 | Industrial Bank of Korea | 163 | ||||||||
| 28,162 | Kakao Corp | 1,526 | ||||||||
| 7,504 | * | Kakao Games Corp | 285 | |||||||
| 10,659 | * | KakaoBank Corp | 249 | |||||||
| 21,657 | * | Kangwon Land, Inc | 425 | |||||||
| 202,975 | KB Financial Group, Inc | 7,580 | ||||||||
| 60,125 | Kia Motors Corp | 3,589 | ||||||||
| 16,579 | Korea Aerospace Industries Ltd | 686 | ||||||||
| 24,335 | Korea Electric Power Corp | 424 | ||||||||
| 1,977 | * | Korea Express Co Ltd | 174 | |||||||
| 3,569 | Korea Investment Holdings Co Ltd | 170 | ||||||||
| 1,624 | Korea Kumho Petrochemical | 175 | ||||||||
| 1,894 | Korea Zinc Co Ltd | 713 | ||||||||
| 15,318 | * | Korean Air Lines Co Ltd | 299 | |||||||
| 5,327 | *,g | Krafton, Inc | 900 | |||||||
| 26,359 | KT&G Corp | 1,671 | ||||||||
| 4,886 | L&F Co Ltd | 797 | ||||||||
| 105,357 | LG Chem Ltd | 41,856 | ||||||||
| 1,761 | LG Chem Ltd (Preference) | 326 | ||||||||
| 20,993 | LG Corp | 1,263 | ||||||||
| 21,371 | LG Display Co Ltd | 240 | ||||||||
| 9,553 | LG Electronics, Inc | 652 | ||||||||
| 4,703 | *,e | LG Energy Solution | 1,357 | |||||||
| 2,160 | LG Household & Health Care Ltd | 1,135 | ||||||||
| 482 | LG Household & Health Care Ltd (Preference) | 121 | ||||||||
| 1,268 | LG Innotek Co Ltd | 336 | ||||||||
| 21,481 | LG Telecom Ltd | 211 | ||||||||
| 1,191 | Lotte Shopping Co Ltd | 96 | ||||||||
| 6,678 | Meritz finance Holdings Co Ltd | 133 | ||||||||
| 7,497 | Meritz Fire & Marine Insurance Co Ltd | 192 | ||||||||
| 24,310 | Meritz Securities Co Ltd | 85 | ||||||||
| 24,262 | Mirae Asset Daewoo Co Ltd | 124 | ||||||||
| 11,830 | Naver Corp | 2,207 | ||||||||
| 223 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,498 | NCsoft | $ | 404 | |||||||
| 1,860 | g | Netmarble Corp | 99 | |||||||
| 5,357 | Orion Corp/Republic of Korea | 431 | ||||||||
| 6,444 | Pacific Corp | 186 | ||||||||
| 21,826 | Pan Ocean Co Ltd | 100 | ||||||||
| 2,841 | * | Pearl Abyss Corp | 112 | |||||||
| 17,687 | POSCO | 3,154 | ||||||||
| 5,900 | POSCO Refractories & Environment Co Ltd | 489 | ||||||||
| 3,947 | S1 Corp (Korea) | 196 | ||||||||
| 6,450 | *,g | Samsung Biologics Co Ltd | 3,943 | |||||||
| 18,835 | Samsung C&T Corp | 1,793 | ||||||||
| 5,081 | Samsung Electro-Mechanics Co Ltd | 514 | ||||||||
| 2,633,262 | Samsung Electronics Co Ltd | 116,146 | ||||||||
| 75,074 | Samsung Electronics Co Ltd (Preference) | 3,018 | ||||||||
| 14,531 | * | Samsung Engineering Co Ltd | 242 | |||||||
| 7,127 | Samsung Fire & Marine Insurance Co Ltd | 1,107 | ||||||||
| 60,519 | * | Samsung Heavy Industries Co Ltd | 283 | |||||||
| 17,427 | Samsung Life Insurance Co Ltd | 842 | ||||||||
| 33,245 | Samsung SDI Co Ltd | 13,710 | ||||||||
| 3,168 | Samsung SDS Co Ltd | 318 | ||||||||
| 4,996 | Samsung Securities Co Ltd | 129 | ||||||||
| 8,135 | SD Biosensor, Inc | 244 | ||||||||
| 21,264 | Seegene, Inc | 593 | ||||||||
| 108,470 | Shinhan Financial Group Co Ltd | 3,110 | ||||||||
| 4,854 | * | SK Biopharmaceuticals Co Ltd | 281 | |||||||
| 5,063 | * | SK Bioscience Co Ltd | 394 | |||||||
| 2,419 | SK Chemicals Co Ltd | 172 | ||||||||
| 8,906 | SK Holdings Co Ltd | 1,482 | ||||||||
| 5,331 | *,g | SK IE Technology Co Ltd | 405 | |||||||
| 12,534 | * | SK Innovation Co Ltd | 1,861 | |||||||
| 21,974 | * | SK Square Co Ltd | 664 | |||||||
| 2,873 | SK Telecom Co Ltd | 115 | ||||||||
| 4,495 | SKC Co Ltd | 462 | ||||||||
| 11,209 | S-Oil Corp | 893 | ||||||||
| 46,071 | Woori Financial Group, Inc | 431 | ||||||||
| 11,674 | Woori Investment & Securities Co Ltd | 82 | ||||||||
| 4,394 | Yuhan Corp | 190 | ||||||||
| TOTAL KOREA, REPUBLIC OF | 269,672 | |||||||||
| KUWAIT - 0.1% | ||||||||||
| 337,377 | Agility Public Warehousing Co KSC | 897 | ||||||||
| 108,327 | Boubyan Bank KSCP | 273 | ||||||||
| 152,874 | Gulf Bank KSCP | 159 | ||||||||
| 1,325,685 | Kuwait Finance House | 3,769 | ||||||||
| 142,347 | Mabanee Co KPSC | 350 | ||||||||
| 540,320 | Mobile Telecommunications Co KSC | 1,047 | ||||||||
| 1,677,597 | National Bank of Kuwait SAKP | 5,707 | ||||||||
| TOTAL KUWAIT | 12,202 | |||||||||
| LUXEMBOURG - 0.0% | ||||||||||
| 140,187 | ArcelorMittal | 3,144 | ||||||||
| 11,754 | Reinet Investments S.C.A | 206 | ||||||||
| TOTAL LUXEMBOURG | 3,350 | |||||||||
| 224 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| MACAU - 0.0% | ||||||||||
| 302,000 | Galaxy Entertainment Group Ltd | $ | 1,809 | |||||||
| TOTAL MACAU | 1,809 | |||||||||
| MALAYSIA - 0.1% | ||||||||||
| 155,700 | AMMB Holdings BHD | 132 | ||||||||
| 250,043 | Axiata Group Bhd | 161 | ||||||||
| 594,702 | Bumiputra-Commerce Holdings BHD | 669 | ||||||||
| 989,000 | Dialog Group BHD | 478 | ||||||||
| 283,600 | Digi.Com BHD | 225 | ||||||||
| 17,400 | Fraser & Neave Holdings BHD | 84 | ||||||||
| 485,300 | Genting BHD | 500 | ||||||||
| 659,300 | Genting Malaysia BHD | 426 | ||||||||
| 118,500 | HAP Seng Consolidated BHD | 192 | ||||||||
| 161,700 | Hartalega Holdings BHD | 112 | ||||||||
| 53,200 | Hong Leong Bank BHD | 247 | ||||||||
| 10,900 | Hong Leong Credit BHD | 46 | ||||||||
| 850,600 | IHH Healthcare BHD | 1,245 | ||||||||
| 615,800 | Inari Amertron BHD | 370 | ||||||||
| 558,300 | IOI Corp BHD | 486 | ||||||||
| 96,930 | Kuala Lumpur Kepong BHD | 483 | ||||||||
| 1,132,124 | Malayan Banking BHD | 2,206 | ||||||||
| 198,400 | * | Malaysia Airports Holdings BHD | 297 | |||||||
| 207,600 | Maxis BHD | 156 | ||||||||
| 371,300 | MISC BHD | 598 | ||||||||
| 421,950 | g | MR DIY Group M Bhd | 198 | |||||||
| 16,300 | Nestle Malaysia BHD | 490 | ||||||||
| 552,800 | Petronas Chemicals Group BHD | 1,129 | ||||||||
| 70,600 | Petronas Dagangan BHD | 339 | ||||||||
| 231,400 | Petronas Gas BHD | 863 | ||||||||
| 143,180 | PPB Group BHD | 515 | ||||||||
| 728,700 | Press Metal BHD | 788 | ||||||||
| 3,481,700 | Public Bank BHD | 3,454 | ||||||||
| 152,750 | QL Resources BHD | 180 | ||||||||
| 125,662 | RHB Capital BHD | 163 | ||||||||
| 627,400 | Sime Darby BHD | 304 | ||||||||
| 420,800 | Sime Darby Plantation BHD | 414 | ||||||||
| 1,153 | SP Setia BHD | 0 | ^ | |||||||
| 98,700 | Telekom Malaysia BHD | 118 | ||||||||
| 624,800 | Tenaga Nasional BHD | 1,131 | ||||||||
| 468,900 | Top Glove Corp BHD | 111 | ||||||||
| TOTAL MALAYSIA | 19,310 | |||||||||
| MEXICO - 0.1% | ||||||||||
| 681,700 | Alfa S.A. de C.V. (Class A) | 484 | ||||||||
| 6,378,500 | America Movil S.A.B. de C.V. | 6,518 | ||||||||
| 3,392,694 | *,e | Cemex S.A. de C.V. | 1,321 | |||||||
| 123,620 | Coca-Cola Femsa SAB de C.V. | 685 | ||||||||
| 99,700 | Embotelladoras Arca SAB de C.V. | 657 | ||||||||
| 691,900 | Fibra Uno Administracion S.A. de C.V. | 689 | ||||||||
| 440,400 | Fomento Economico Mexicano S.A. de C.V. | 2,973 | ||||||||
| 45,490 | e | Gruma SAB de C.V. | 504 | |||||||
| 80,000 | Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares) | 1,114 | ||||||||
| 41,750 | e | Grupo Aeroportuario del Sureste S.A. de C.V. (Class B) | 821 | |||||||
| 225 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 302,100 | Grupo Bimbo S.A. de C.V. (Series A) | $ | 982 | |||||||
| 108,700 | e | Grupo Carso S.A. de C.V. (Series A1) | 405 | |||||||
| 640,800 | Grupo Financiero Banorte S.A. de C.V. | 3,574 | ||||||||
| 201,627 | *,e | Grupo Financiero Inbursa S.A. | 321 | |||||||
| 690,300 | e | Grupo Mexico S.A. de C.V. (Series B) | 2,859 | |||||||
| 540,600 | e | Grupo Televisa S.A. | 887 | |||||||
| 29,595 | e | Industrias Penoles S.A. de C.V. | 274 | |||||||
| 301,000 | e | Kimberly-Clark de Mexico S.A. de C.V. (Class A) | 408 | |||||||
| 259,100 | e | Operadora de Sites Mexicanos S.A. de C.V. | 300 | |||||||
| 226,500 | Orbia Advance Corp SAB de C.V. | 530 | ||||||||
| 42,965 | e | Promotora y Operadora de Infraestructura SAB de C.V. | 315 | |||||||
| 1,177,100 | Wal-Mart de Mexico SAB de C.V. | 4,058 | ||||||||
| TOTAL MEXICO | 30,679 | |||||||||
| NETHERLANDS - 2.2% | ||||||||||
| 49,895 | *,g | Adyen NV | 72,005 | |||||||
| 4,183 | * | Argenx SE | 1,567 | |||||||
| 23,304 | * | Argenx SE | 8,785 | |||||||
| 197,166 | ASML Holding NV | 93,149 | ||||||||
| 125,645 | g | Euronext NV | 10,304 | |||||||
| 62,297 | Heineken NV | 5,670 | ||||||||
| 8,897,097 | ING Groep NV | 87,651 | ||||||||
| 272,635 | Koninklijke Ahold Delhaize NV | 7,096 | ||||||||
| 675,588 | Koninklijke KPN NV | 2,404 | ||||||||
| 5,798,471 | Shell plc | 151,008 | ||||||||
| 1,610,146 | Universal Music Group NV | 32,261 | ||||||||
| TOTAL NETHERLANDS | 471,900 | |||||||||
| NORWAY - 0.8% | ||||||||||
| 902,637 | e | Aker BP ASA | 31,261 | |||||||
| 3,669,298 | Equinor ASA | 127,858 | ||||||||
| 198,922 | Gjensidige Forsikring BA | 4,049 | ||||||||
| 515,576 | Norsk Hydro ASA | 2,914 | ||||||||
| TOTAL NORWAY | 166,082 | |||||||||
| PERU - 0.0% | ||||||||||
| 48,200 | e | Cia de Minas Buenaventura S.A. (ADR) (Series B) | 318 | |||||||
| 16,800 | Credicorp Ltd | 2,015 | ||||||||
| 19,658 | Southern Copper Corp | 979 | ||||||||
| TOTAL PERU | 3,312 | |||||||||
| PHILIPPINES - 0.1% | ||||||||||
| 403,580 | Aboitiz Equity Ventures, Inc | 349 | ||||||||
| 2,039,050 | AC Energy Corp | 298 | ||||||||
| 22,570 | Ayala Corp | 246 | ||||||||
| 1,683,870 | Ayala Land, Inc | 783 | ||||||||
| 165,740 | Bank of the Philippine Islands | 256 | ||||||||
| 179,820 | BDO Unibank, Inc | 362 | ||||||||
| 493,700 | * | Converge ICT Solutions, Inc | 190 | |||||||
| 2,845 | Globe Telecom, Inc | 117 | ||||||||
| 21,224 | GT Capital Holdings, Inc | 189 | ||||||||
| 229,470 | International Container Term Services, Inc | 768 | ||||||||
| 658,265 | JG Summit Holdings (Series B) | 583 | ||||||||
| 97,120 | Jollibee Foods Corp | 360 | ||||||||
| 226 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 57,120 | Manila Electric Co | $ | 374 | |||||||
| 914,900 | Metro Pacific Investments Corp | 59 | ||||||||
| 156,263 | Metropolitan Bank & Trust | 136 | ||||||||
| 1,381,900 | *,g | Monde Nissin Corp | 327 | |||||||
| 8,180 | PLDT, Inc | 250 | ||||||||
| 5,826,950 | Robinsons Retail Holdings, Inc | 5,341 | ||||||||
| 22,060 | SM Investments Corp | 314 | ||||||||
| 2,600,600 | SM Prime Holdings | 1,731 | ||||||||
| 201,030 | Universal Robina | 406 | ||||||||
| TOTAL PHILIPPINES | 13,439 | |||||||||
| POLAND - 0.1% | ||||||||||
| 328,332 | *,g | Allegro.eu S.A. | 1,765 | |||||||
| 17,316 | Bank Pekao S.A. | 317 | ||||||||
| 3,045 | Bank Zachodni WBK S.A. | 159 | ||||||||
| 1,210 | BRE Bank S.A. | 61 | ||||||||
| 5,946 | * | CD Projekt Red S.A. | 128 | |||||||
| 48,167 | Cyfrowy Polsat S.A. | 228 | ||||||||
| 9,879 | *,g | Dino Polska S.A. | 705 | |||||||
| 187,549 | *,e | InPost S.A. | 1,087 | |||||||
| 29,678 | * | KGHM Polska Miedz S.A. | 793 | |||||||
| 239 | LPP S.A. | 483 | ||||||||
| 200,579 | * | PGE Polska Grupa Energetyczna S.A. | 479 | |||||||
| 74,106 | Polski Koncern Naftowy Orlen S.A. | 1,138 | ||||||||
| 478,568 | Polskie Gornictwo Naftowe i Gazownictwo S.A. | 610 | ||||||||
| 77,634 | * | Powszechna Kasa Oszczednosci Bank Polski S.A. | 487 | |||||||
| 132,228 | Powszechny Zaklad Ubezpieczen S.A. | 886 | ||||||||
| 140,211 | Telekomunikacja Polska S.A. | 196 | ||||||||
| TOTAL POLAND | 9,522 | |||||||||
| PORTUGAL - 0.1% | ||||||||||
| 899,973 | Jeronimo Martins SGPS S.A. | 19,510 | ||||||||
| TOTAL PORTUGAL | 19,510 | |||||||||
| QATAR - 0.1% | ||||||||||
| 467,173 | Barwa Real Estate Co | 429 | ||||||||
| 169,034 | Commercial Bank of Qatar QSC | 318 | ||||||||
| 345,733 | Industries Qatar QSC | 1,517 | ||||||||
| 514,435 | Masraf Al Rayan | 584 | ||||||||
| 926,948 | Mesaieed Petrochemical Holding Co | 634 | ||||||||
| 196,257 | Ooredoo QSC | 415 | ||||||||
| 101,918 | Qatar Electricity & Water Co | 490 | ||||||||
| 125,867 | Qatar Fuel QSC | 617 | ||||||||
| 615,112 | Qatar Gas Transport Co Ltd | 633 | ||||||||
| 56,911 | Qatar International Islamic Bank QSC | 167 | ||||||||
| 147,928 | Qatar Islamic Bank SAQ | 904 | ||||||||
| 1,449,062 | Qatar National Bank | 7,955 | ||||||||
| TOTAL QATAR | 14,663 | |||||||||
| ROMANIA - 0.0% | ||||||||||
| 103,034 | NEPI Rockcastle plc | 549 | ||||||||
| TOTAL ROMANIA | 549 | |||||||||
| 227 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| RUSSIA - 0.0% | ||||||||||
| 12,672 | *,†,e | Ozon Holdings plc (ADR) | $ | 0 | ^ | |||||
| 211,169 | *,† | VTB Bank PJSC (GDR) Tradegate | 2 | |||||||
| TOTAL RUSSIA | 2 | |||||||||
| SAUDI ARABIA - 0.3% | ||||||||||
| 17,531 | * | ACWA Power Co | 699 | |||||||
| 29,477 | Advanced Petrochemical Co | 404 | ||||||||
| 489,519 | Al Rajhi Bank | 10,785 | ||||||||
| 268,933 | Alinma Bank | 2,403 | ||||||||
| 58,078 | Almarai Co JSC | 813 | ||||||||
| 53,802 | Arab National Bank | 424 | ||||||||
| 43,394 | * | Bank AlBilad | 508 | |||||||
| 35,216 | Bank Al-Jazira | 210 | ||||||||
| 132,570 | Banque Saudi Fransi | 1,679 | ||||||||
| 13,050 | * | Bupa Arabia for Cooperative Insurance Co | 554 | |||||||
| 58,785 | * | Dar Al Arkan Real Estate Development Co | 169 | |||||||
| 65,324 | Dr Sulaiman Al Habib Medical Services Group Co | 3,385 | ||||||||
| 4,904 | Elm Co | 333 | ||||||||
| 33,529 | * | Emaar Economic City | 88 | |||||||
| 89,674 | Etihad Etisalat Co | 837 | ||||||||
| 13,562 | Jarir Marketing Co | 589 | ||||||||
| 102,367 | * | Mobile Telecommunications Co Saudi Arabia | 308 | |||||||
| 54,135 | Mouwasat Medical Services Co | 3,074 | ||||||||
| 409,423 | National Commercial Bank | 7,207 | ||||||||
| 70,712 | * | National Industrialization Co | 305 | |||||||
| 53,580 | * | Rabigh Refining & Petrochemical Co | 244 | |||||||
| 48,625 | * | Rabigh Refining & Petrochemical Co | 221 | |||||||
| 386,476 | Riyad Bank | 3,316 | ||||||||
| 48,508 | SABIC Agri-Nutrients Co | 1,785 | ||||||||
| 80,780 | Sahara International Petrochemical Co | 1,083 | ||||||||
| 190,049 | * | Saudi Arabian Mining Co | 2,537 | |||||||
| 558,698 | g | Saudi Arabian Oil Co | 5,774 | |||||||
| 204,153 | Saudi Basic Industries Corp | 5,536 | ||||||||
| 553,138 | Saudi British Bank | 6,008 | ||||||||
| 195,337 | Saudi Electricity Co | 1,264 | ||||||||
| 81,745 | Saudi Industrial Investment Group | 622 | ||||||||
| 101,225 | Saudi Investment Bank | 528 | ||||||||
| 167,108 | * | Saudi Kayan Petrochemical Co | 704 | |||||||
| 7,899 | * | Saudi Research & Marketing Group | 397 | |||||||
| 7,255 | Saudi Tadawul Group Holding Co | 365 | ||||||||
| 135,916 | Saudi Telecom Co | 3,525 | ||||||||
| 58,234 | Savola Group | 522 | ||||||||
| 57,936 | Yanbu National Petrochemical Co | 780 | ||||||||
| TOTAL SAUDI ARABIA | 69,985 | |||||||||
| SINGAPORE - 0.2% | ||||||||||
| 561,500 | e | Ascendas REIT | 1,152 | |||||||
| 21,500 | g | BOC Aviation Ltd | 182 | |||||||
| 453,742 | Capitaland Investment Ltd | 1,249 | ||||||||
| 67,304 | CapitaMall Trust | 105 | ||||||||
| 404,400 | DBS Group Holdings Ltd | 8,653 | ||||||||
| 745,161 | Oversea-Chinese Banking Corp | 6,113 | ||||||||
| 181,200 | Singapore Exchange Ltd | 1,234 | ||||||||
| 228 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,697,400 | e | Singapore Telecommunications Ltd | $ | 3,089 | ||||||
| 379,190 | STMicroelectronics NV | 11,992 | ||||||||
| 265,016 | e | United Overseas Bank Ltd | 5,007 | |||||||
| TOTAL SINGAPORE | 38,776 | |||||||||
| SOUTH AFRICA - 0.3% | ||||||||||
| 73,533 | Absa Group Ltd | 702 | ||||||||
| 19,857 | African Rainbow Minerals Ltd | 261 | ||||||||
| 11,743 | Anglo American Platinum Ltd | 1,029 | ||||||||
| 375,895 | Anglo American plc | 13,438 | ||||||||
| 55,460 | Aspen Pharmacare Holdings Ltd | 477 | ||||||||
| 76,090 | Bid Corp Ltd | 1,435 | ||||||||
| 64,913 | Bidvest Group Ltd | 836 | ||||||||
| 51,734 | Capitec Bank Holdings Ltd | 6,340 | ||||||||
| 53,778 | Clicks Group Ltd | 903 | ||||||||
| 105,028 | * | Discovery Holdings Ltd | 831 | |||||||
| 59,661 | Exxaro Resources Ltd | 725 | ||||||||
| 1,217,526 | FirstRand Ltd | 4,685 | ||||||||
| 76,220 | Foschini Ltd | 572 | ||||||||
| 196,822 | Gold Fields Ltd | 1,815 | ||||||||
| 775,489 | Growthpoint Properties Ltd | 589 | ||||||||
| 114,104 | Harmony Gold Mining Co Ltd | 357 | ||||||||
| 186,934 | Impala Platinum Holdings Ltd | 2,074 | ||||||||
| 14,077 | Kumba Iron Ore Ltd | 456 | ||||||||
| 57,748 | Mr Price Group Ltd | 633 | ||||||||
| 381,654 | MTN Group Ltd | 3,106 | ||||||||
| 79,330 | MultiChoice Group Ltd | 565 | ||||||||
| 48,378 | Naspers Ltd (N Shares) | 7,067 | ||||||||
| 41,864 | Nedbank Group Ltd | 536 | ||||||||
| 72,970 | * | Northam Platinum Holdings Ltd | 768 | |||||||
| 1,072,354 | Old Mutual Ltd | 727 | ||||||||
| 351,983 | g | Pepkor Holdings Ltd | 414 | |||||||
| 118,167 | Remgro Ltd | 944 | ||||||||
| 397,615 | Sanlam Ltd | 1,292 | ||||||||
| 127,768 | * | Sasol Ltd | 2,946 | |||||||
| 113,495 | Shoprite Holdings Ltd | 1,383 | ||||||||
| 621,454 | Sibanye Stillwater Ltd | 1,543 | ||||||||
| 40,039 | Spar Group Ltd | 340 | ||||||||
| 700,680 | Standard Bank Group Ltd | 6,685 | ||||||||
| 145,181 | e | Vodacom Group Pty Ltd | 1,176 | |||||||
| 222,021 | Woolworths Holdings Ltd | 740 | ||||||||
| TOTAL SOUTH AFRICA | 68,390 | |||||||||
| SPAIN - 0.4% | ||||||||||
| 287,054 | * | Amadeus IT Holding S.A. | 16,073 | |||||||
| 8,966,358 | Banco Bilbao Vizcaya Argentaria S.A. | 40,730 | ||||||||
| 2,062,108 | Iberdrola S.A. | 21,470 | ||||||||
| 298,343 | Industria De Diseno Textil S.A. | 6,780 | ||||||||
| 108,528 | *,†,e | Let’s GOWEX S.A. | 1 | |||||||
| 15,573 | Merlin Properties Socimi S.A. | 151 | ||||||||
| 1,138,019 | e | Telefonica S.A. | 5,810 | |||||||
| TOTAL SPAIN | 91,015 | |||||||||
| 229 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| SWEDEN - 0.7% | ||||||||||
| 1,168,152 | Assa Abloy AB | $ | 24,928 | |||||||
| 228,188 | Boliden AB | 7,298 | ||||||||
| 116,434 | g | Evolution Gaming Group AB | 10,651 | |||||||
| 362,208 | * | Fastighets AB Balder | 1,735 | |||||||
| 1,954,210 | Hexagon AB | 20,420 | ||||||||
| 532,161 | Intrum Justitia AB | 10,180 | ||||||||
| 1,555,641 | Sandvik AB | 25,352 | ||||||||
| 26,421 | *,e | SAS AB | 2 | |||||||
| 5,252,839 | Swedish Match AB | 53,592 | ||||||||
| TOTAL SWEDEN | 154,158 | |||||||||
| SWITZERLAND - 1.0% | ||||||||||
| 45,551 | Alcon, Inc | 3,194 | ||||||||
| 112,608 | Cie Financiere Richemont S.A. | 12,113 | ||||||||
| 583,556 | Credit Suisse Group | 3,331 | ||||||||
| 4,635 | Givaudan S.A. | 16,337 | ||||||||
| 186,477 | Lonza Group AG. | 99,604 | ||||||||
| 193,143 | Novartis AG. | 16,375 | ||||||||
| 9,431 | PSP Swiss Property AG. | 1,050 | ||||||||
| 9,738 | Sonova Holdings AG | 3,112 | ||||||||
| 1,800 | Straumann Holding AG. | 217 | ||||||||
| 9,431 | Swiss Prime Site AG. | 829 | ||||||||
| 177,740 | TE Connectivity Ltd | 20,111 | ||||||||
| 838,022 | UBS Group AG | 13,548 | ||||||||
| 73,319 | Zurich Insurance Group AG | 31,972 | ||||||||
| TOTAL SWITZERLAND | 221,793 | |||||||||
| TAIWAN - 2.1% | ||||||||||
| 106,000 | Accton Technology Corp | 853 | ||||||||
| 242,000 | Acer, Inc | 177 | ||||||||
| 38,391 | Advantech Co Ltd | 447 | ||||||||
| 302,000 | ASE Technology Holding Co Ltd | 778 | ||||||||
| 203,000 | Asia Cement Corp | 299 | ||||||||
| 6,000 | ASMedia Technology, Inc | 226 | ||||||||
| 64,000 | Asustek Computer, Inc | 669 | ||||||||
| 760,000 | * | AU Optronics Corp | 416 | |||||||
| 65,189 | Catcher Technology Co Ltd | 364 | ||||||||
| 1,804,412 | Cathay Financial Holding Co Ltd | 3,090 | ||||||||
| 295,671 | Chailease Holding Co Ltd | 2,075 | ||||||||
| 426,293 | Chang Hwa Commercial Bank | 249 | ||||||||
| 400,000 | Cheng Shin Rubber Industry Co Ltd | 477 | ||||||||
| 244,000 | China Airlines | 193 | ||||||||
| 1,400,844 | China Development Financial Holding Corp | 694 | ||||||||
| 2,614,000 | China Steel Corp | 2,503 | ||||||||
| 8,176,000 | Chinatrust Financial Holding Co | 6,916 | ||||||||
| 733,000 | Chunghwa Telecom Co Ltd | 3,010 | ||||||||
| 395,000 | Compal Electronics, Inc | 302 | ||||||||
| 929,727 | Dadi Early-Childhood Education Group Ltd | 3,590 | ||||||||
| 176,000 | Delta Electronics, Inc | 1,312 | ||||||||
| 2,907,033 | E.Sun Financial Holding Co Ltd | 2,838 | ||||||||
| 680,000 | Eclat Textile Co Ltd | 9,525 | ||||||||
| 15,000 | eMemory Technology, Inc | 526 | ||||||||
| 230 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 228,000 | Eva Airways Corp | $ | 243 | |||||||
| 229,731 | Evergreen Marine Corp Taiwan Ltd | 653 | ||||||||
| 762,000 | Far Eastern Textile Co Ltd | 816 | ||||||||
| 276,000 | Far EasTone Telecommunications Co Ltd | 777 | ||||||||
| 96,040 | Feng TAY Enterprise Co Ltd | 567 | ||||||||
| 946,165 | First Financial Holding Co Ltd | 835 | ||||||||
| 806,000 | Formosa Chemicals & Fibre Corp | 2,026 | ||||||||
| 280,000 | Formosa Petrochemical Corp | 883 | ||||||||
| 923,000 | Formosa Plastics Corp | 3,370 | ||||||||
| 1,812,822 | Fubon Financial Holding Co Ltd | 3,646 | ||||||||
| 872,600 | Fuhwa Financial Holdings Co Ltd | 578 | ||||||||
| 65,000 | Giant Manufacturing Co Ltd | 525 | ||||||||
| 19,000 | Globalwafers Co Ltd | 290 | ||||||||
| 2,275,000 | Hon Hai Precision Industry Co, Ltd | 8,352 | ||||||||
| 1,934,278 | Hota Industrial Manufacturing Co Ltd | 3,985 | ||||||||
| 67,000 | Hotai Motor Co Ltd | 1,367 | ||||||||
| 768,984 | Hua Nan Financial Holdings Co Ltd | 586 | ||||||||
| 898,000 | InnoLux Display Corp | 365 | ||||||||
| 234,000 | Inventec Co Ltd | 198 | ||||||||
| 9,604 | Largan Precision Co Ltd | 558 | ||||||||
| 183,000 | Lite-On Technology Corp | 356 | ||||||||
| 570,242 | MediaTek, Inc | 12,518 | ||||||||
| 2,668,000 | Mega Financial Holding Co Ltd | 3,170 | ||||||||
| 59,000 | Micro-Star International Co Ltd | 225 | ||||||||
| 14,400 | momo.com, Inc | 310 | ||||||||
| 1,089,000 | Nan Ya Plastics Corp | 3,040 | ||||||||
| 21,000 | Nan Ya Printed Circuit Board Corp | 185 | ||||||||
| 113,000 | Nanya Technology Corp | 188 | ||||||||
| 36,000 | Nien Made Enterprise Co Ltd | 355 | ||||||||
| 51,000 | Novatek Microelectronics Corp Ltd | 519 | ||||||||
| 185,000 | Pegatron Technology Corp | 355 | ||||||||
| 529,000 | Pou Chen Corp | 525 | ||||||||
| 588,000 | Powerchip Semiconductor Manufacturing Corp | 796 | ||||||||
| 130,000 | President Chain Store Corp | 1,191 | ||||||||
| 1,688,000 | Prime View International Co Ltd | 10,778 | ||||||||
| 242,000 | Quanta Computer, Inc | 649 | ||||||||
| 42,000 | Realtek Semiconductor Corp | 514 | ||||||||
| 252,540 | Ruentex Development Co Ltd | 624 | ||||||||
| 316,999 | Shanghai Commercial & Savings Bank Ltd | 567 | ||||||||
| 2,887,684 | Shin Kong Financial Holding Co Ltd | 851 | ||||||||
| 913,300 | SinoPac Financial Holdings Co Ltd | 516 | ||||||||
| 116,000 | Synnex Technology International Corp | 208 | ||||||||
| 963,350 | Taishin Financial Holdings Co Ltd | 528 | ||||||||
| 501,192 | Taiwan Cement Corp | 667 | ||||||||
| 866,024 | Taiwan Cooperative Financial Holding | 783 | ||||||||
| 408,000 | Taiwan High Speed Rail Corp | 385 | ||||||||
| 260,000 | Taiwan Mobile Co Ltd | 945 | ||||||||
| 20,068,100 | Taiwan Semiconductor Manufacturing Co Ltd | 321,618 | ||||||||
| 150,302 | Taiwan Semiconductor Manufacturing Co Ltd (ADR) | 12,287 | ||||||||
| 114,000 | Unimicron Technology Corp | 610 | ||||||||
| 1,105,000 | Uni-President Enterprises Corp | 2,491 | ||||||||
| 1,079,000 | United Microelectronics Corp | 1,442 | ||||||||
| 79,000 | Vanguard International Semiconductor Corp | 206 | ||||||||
| 14,000 | Voltronic Power Technology Corp | 679 | ||||||||
| 231 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 524,000 | Walsin Lihwa Corp | $ | 635 | |||||||
| 54,400 | Wan Hai Lines Ltd | 218 | ||||||||
| 31,000 | Win Semiconductors Corp | 201 | ||||||||
| 270,000 | Winbond Electronics Corp | 198 | ||||||||
| 17,000 | Wiwynn Corp | 398 | ||||||||
| 134,640 | WPG Holdings Co Ltd | 250 | ||||||||
| 37,339 | Yageo Corp | 387 | ||||||||
| 155,000 | Yang Ming Marine Transport | 429 | ||||||||
| 58,000 | Zhen Ding Technology Holding Ltd | 201 | ||||||||
| TOTAL TAIWAN | 456,147 | |||||||||
| TANZANIA, UNITED REPUBLIC OF - 0.0% | ||||||||||
| 91,858 | AngloGold Ashanti Ltd | 1,356 | ||||||||
| TOTAL TANZANIA, UNITED REPUBLIC OF | 1,356 | |||||||||
| THAILAND - 0.1% | ||||||||||
| 113,300 | Advanced Info Service PCL | 624 | ||||||||
| 970,000 | Airports of Thailand PCL | 1,950 | ||||||||
| 895,800 | Asset World Corp PCL | 124 | ||||||||
| 166,300 | B Grimm Power PCL | 165 | ||||||||
| 137,400 | Bangkok Commercial Asset Management PCL | 68 | ||||||||
| 928,500 | Bangkok Dusit Medical Services PCL | 658 | ||||||||
| 1,505,500 | Bangkok Expressway & Metro PCL | 373 | ||||||||
| 276,400 | Berli Jucker PCL | 254 | ||||||||
| 1,487,790 | BTS Group Holdings PCL | 360 | ||||||||
| 40,400 | Bumrungrad Hospital PCL | 205 | ||||||||
| 57,900 | Carabao Group PCL | 175 | ||||||||
| 449,600 | Central Pattana PCL | 777 | ||||||||
| 400,675 | Central Retail Corp PCL | 397 | ||||||||
| 882,600 | Charoen Pokphand Foods PCL | 650 | ||||||||
| 1,328,300 | CP ALL plc | 2,289 | ||||||||
| 29,700 | Delta Electronics Thai PCL | 280 | ||||||||
| 68,400 | Electricity Generating PCL | 342 | ||||||||
| 367,997 | Energy Absolute PCL | 853 | ||||||||
| 150,000 | Global Power Synergy Co Ltd | 274 | ||||||||
| 658,430 | Gulf Energy Development PCL | 861 | ||||||||
| 1,325,600 | Home Product Center PCL | 477 | ||||||||
| 376,400 | Indorama Ventures PCL | 501 | ||||||||
| 244,800 | Intouch Holdings PCL (Class F) | 475 | ||||||||
| 126,700 | JMT Network Services PCL | 263 | ||||||||
| 928,200 | Krung Thai Bank PCL | 408 | ||||||||
| 180,400 | Krungthai Card PCL | 292 | ||||||||
| 1,967,000 | Land and Houses PCL Co Reg | 465 | ||||||||
| 698,800 | * | Minor International PCL | 674 | |||||||
| 88,100 | Muangthai Capital PCL | 107 | ||||||||
| 291,100 | Osotspa PCL | 282 | ||||||||
| 352,400 | PTT Exploration & Production PCL | 1,588 | ||||||||
| 564,600 | PTT Global Chemical PCL | 729 | ||||||||
| 667,900 | PTT Oil & Retail Business PCL | 581 | ||||||||
| 2,373,900 | PTT PCL | 2,285 | ||||||||
| 141,050 | Ratch Group PCL | 152 | ||||||||
| 203,800 | SCB X PCL | 614 | ||||||||
| 262,500 | SCG Packaging PCL | 413 | ||||||||
| 180,700 | Siam Cement PCL | 1,915 | ||||||||
| 232 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 135,800 | Srisawad Corp PCL | $ | 187 | |||||||
| 321,300 | Thai Oil PCL | 469 | ||||||||
| 638,800 | Thai Union Group PCL | 309 | ||||||||
| 1,027,400 | True Corp PCL | 134 | ||||||||
| TOTAL THAILAND | 24,999 | |||||||||
| TURKEY - 0.0% | ||||||||||
| 291,316 | Akbank TAS | 140 | ||||||||
| 135,747 | Aselsan Elektronik Sanayi Ve Ticaret AS | 186 | ||||||||
| 105,807 | BIM Birlesik Magazalar AS | 512 | ||||||||
| 301,342 | Eregli Demir ve Celik Fabrikalari TAS | 490 | ||||||||
| 12,770 | Ford Otomotiv Sanayi AS | 206 | ||||||||
| 97,702 | Haci Omer Sabanci Holding AS | 111 | ||||||||
| 149,805 | KOC Holding AS | 331 | ||||||||
| 119,228 | * | Turk Hava Yollari | 334 | |||||||
| 271,872 | Turkcell Iletisim Hizmet AS | 265 | ||||||||
| 329,397 | Turkiye Is Bankasi (Series C) | 87 | ||||||||
| 33,669 | * | Turkiye Petrol Rafinerileri AS | 531 | |||||||
| 310,430 | Turkiye Sise ve Cam Fabrikalari AS | 400 | ||||||||
| TOTAL TURKEY | 3,593 | |||||||||
| UNITED ARAB EMIRATES - 0.1% | ||||||||||
| 245,299 | Abu Dhabi Commercial Bank PJSC | 592 | ||||||||
| 128,710 | Abu Dhabi Islamic Bank PJSC | 263 | ||||||||
| 710,482 | Abu Dhabi National Oil Co for Distribution PJSC | 817 | ||||||||
| 862,291 | Aldar Properties PJSC | 1,046 | ||||||||
| 256,885 | Dubai Islamic Bank PJSC | 404 | ||||||||
| 913,613 | Emaar Properties PJSC | 1,297 | ||||||||
| 169,539 | Emirates NBD Bank PJSC | 611 | ||||||||
| 776,999 | Emirates Telecommunications Group Co PJSC | 5,520 | ||||||||
| 1,053,767 | National Bank of Abu Dhabi PJSC | 5,392 | ||||||||
| 5,358 | *,† | NMC Health plc | 0 | ^ | ||||||
| TOTAL UNITED ARAB EMIRATES | 15,942 | |||||||||
| UNITED KINGDOM - 4.4% | ||||||||||
| 594,931 | Allfunds Group PLC | 4,573 | ||||||||
| 1,353,905 | Ashtead Group plc | 56,957 | ||||||||
| 148,134 | Associated British Foods plc | 2,858 | ||||||||
| 1,382,154 | AstraZeneca plc | 182,336 | ||||||||
| 7,954,403 | Barclays plc | 14,874 | ||||||||
| 1,994,150 | Beazley plc | 12,159 | ||||||||
| 122,628 | Big Yellow Group plc | 1,968 | ||||||||
| 2,751,156 | BP plc | 12,918 | ||||||||
| 694,137 | British American Tobacco plc | 29,754 | ||||||||
| 282,990 | British Land Co plc | 1,548 | ||||||||
| 103,035 | * | Coca-Cola European Partners plc (Class A) | 5,318 | |||||||
| 309,394 | Compass Group plc | 6,352 | ||||||||
| 1,992,815 | *,e | Darktrace plc | 7,152 | |||||||
| 308,987 | Dechra Pharmaceuticals plc | 13,029 | ||||||||
| 37,730 | Derwent London plc | 1,203 | ||||||||
| 2,392,833 | Diageo plc | 103,353 | ||||||||
| 1,927,917 | Electrocomponents plc | 20,506 | ||||||||
| 891,548 | Fevertree Drinks plc | 13,276 | ||||||||
| 188,659 | Great Portland Estates plc | 1,321 | ||||||||
| 233 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 328,821 | * | Informa plc | $ | 2,124 | ||||||
| 212,656 | *,g | Just Eat Takeaway.com NV | 3,342 | |||||||
| 207,525 | e | Land Securities Group plc | 1,684 | |||||||
| 117,979 | * | Liberty Global plc (Class A) | 2,483 | |||||||
| 22,153 | * | Liberty Global plc (Class C) | 489 | |||||||
| 251,038 | Linde plc | 72,181 | ||||||||
| 456,727 | Linde plc (Xetra) | 131,401 | ||||||||
| 15,153,530 | Lloyds TSB Group plc | 7,797 | ||||||||
| 146,610 | London Stock Exchange Group plc | 13,680 | ||||||||
| 6,332,179 | Man Group plc | 19,330 | ||||||||
| 801,778 | National Grid plc | 10,304 | ||||||||
| 2,189,924 | Natwest Group plc | 5,829 | ||||||||
| 34,966 | Next plc | 2,498 | ||||||||
| 153,609 | Reckitt Benckiser Group plc | 11,553 | ||||||||
| 263,868 | RELX plc | 7,164 | ||||||||
| 823,808 | RELX plc | 22,278 | ||||||||
| 150,926 | Safestore Holdings plc | 1,954 | ||||||||
| 218,991 | Scottish & Southern Energy plc | 4,322 | ||||||||
| 243,033 | Segro plc | 2,901 | ||||||||
| 149,564 | Smith & Nephew plc | 2,092 | ||||||||
| 1,944,833 | Standard Chartered plc | 14,682 | ||||||||
| 18,849,957 | Tesco plc | 58,748 | ||||||||
| 1,534,812 | * | THG Holdings Ltd | 1,541 | |||||||
| 712,133 | Travis Perkins plc | 8,441 | ||||||||
| 5,371,958 | Tritax Big Box REIT plc | 11,904 | ||||||||
| 5,241,781 | g | Tritax EuroBox plc | 5,476 | |||||||
| 444,844 | Unilever plc | 20,276 | ||||||||
| 5,666,639 | Vodafone Group plc | 8,811 | ||||||||
| 275,657 | WPP plc | 2,785 | ||||||||
| TOTAL UNITED KINGDOM | 949,525 | |||||||||
| UNITED STATES - 62.4% | ||||||||||
| 65,655 | 3M Co | 8,496 | ||||||||
| 553 | A.O. Smith Corp | 30 | ||||||||
| 900,443 | Abbott Laboratories | 97,833 | ||||||||
| 1,271,035 | AbbVie, Inc | 194,672 | ||||||||
| 192 | * | Abiomed, Inc | 48 | |||||||
| 148,524 | Accenture plc | 41,238 | ||||||||
| 3,278 | Activision Blizzard, Inc | 255 | ||||||||
| 15,135 | * | Adobe, Inc | 5,540 | |||||||
| 257 | Advance Auto Parts, Inc | 44 | ||||||||
| 1,276,262 | * | Advanced Micro Devices, Inc | 97,596 | |||||||
| 2,808 | AES Corp | 59 | ||||||||
| 800 | *,e | Affirm Holdings, Inc | 14 | |||||||
| 41,553 | Aflac, Inc | 2,299 | ||||||||
| 1,264 | Agilent Technologies, Inc | 150 | ||||||||
| 11,000 | e | Agree Realty Corp | 793 | |||||||
| 44,195 | Air Products & Chemicals, Inc | 10,628 | ||||||||
| 1,406 | * | Airbnb, Inc | 125 | |||||||
| 675 | * | Akamai Technologies, Inc | 62 | |||||||
| 50,378 | Albemarle Corp | 10,528 | ||||||||
| 776 | Alcoa Corp | 35 | ||||||||
| 60,071 | Alexandria Real Estate Equities, Inc | 8,712 | ||||||||
| 315 | * | Align Technology, Inc | 75 | |||||||
| 234 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 3,332 | * | Alleghany Corp | $ | 2,776 | ||||||
| 371 | Allegion plc | 36 | ||||||||
| 467,687 | Alliant Energy Corp | 27,411 | ||||||||
| 19,277 | Allstate Corp | 2,443 | ||||||||
| 1,402 | Ally Financial, Inc | 47 | ||||||||
| 26,989 | * | Alnylam Pharmaceuticals, Inc | 3,936 | |||||||
| 100,683 | * | Alphabet, Inc (Class A) | 219,414 | |||||||
| 104,835 | * | Alphabet, Inc (Class C) | 229,321 | |||||||
| 1,122,307 | * | Altimmune, Inc | 13,131 | |||||||
| 349,992 | Altria Group, Inc | 14,619 | ||||||||
| 3,626,668 | * | Amazon.com, Inc | 385,188 | |||||||
| 2,162 | *,e | AMC Entertainment Holdings, Inc | 29 | |||||||
| 6,369 | Amcor plc | 79 | ||||||||
| 41 | Amerco, Inc | 20 | ||||||||
| 332,662 | Ameren Corp | 30,059 | ||||||||
| 363,604 | American Electric Power Co, Inc | 34,884 | ||||||||
| 247,694 | American Express Co | 34,335 | ||||||||
| 304 | American Financial Group, Inc | 42 | ||||||||
| 279,442 | American Homes 4 Rent | 9,903 | ||||||||
| 529,027 | American International Group, Inc | 27,049 | ||||||||
| 94,247 | American Tower Corp | 24,089 | ||||||||
| 765 | American Water Works Co, Inc | 114 | ||||||||
| 85,456 | Americold Realty Trust | 2,567 | ||||||||
| 74,677 | Ameriprise Financial, Inc | 17,749 | ||||||||
| 60,660 | AmerisourceBergen Corp | 8,582 | ||||||||
| 975 | Ametek, Inc | 107 | ||||||||
| 96,641 | Amgen, Inc | 23,513 | ||||||||
| 2,520 | Amphenol Corp (Class A) | 162 | ||||||||
| 2,202 | Analog Devices, Inc | 322 | ||||||||
| 6,565 | Annaly Capital Management, Inc | 39 | ||||||||
| 367 | * | Ansys, Inc | 88 | |||||||
| 3,084,378 | * | Antero Resources Corp | 94,536 | |||||||
| 43,196 | Aon plc | 11,649 | ||||||||
| 1,460 | APA Corp | 51 | ||||||||
| 1,682 | Apollo Global Management, Inc | 82 | ||||||||
| 4,937,770 | d | Apple, Inc | 675,092 | |||||||
| 490,741 | Applied Materials, Inc | 44,648 | ||||||||
| 500 | *,e | AppLovin Corp | 17 | |||||||
| 31,391 | * | Aptiv plc | 2,796 | |||||||
| 972 | ARAMARK Holdings Corp | 30 | ||||||||
| 59,816 | * | Arch Capital Group Ltd | 2,721 | |||||||
| 2,365 | Archer-Daniels-Midland Co | 184 | ||||||||
| 1,036 | * | Arista Networks, Inc | 97 | |||||||
| 285 | * | Arrow Electronics, Inc | 32 | |||||||
| 877 | Arthur J. Gallagher & Co | 143 | ||||||||
| 232 | Assurant, Inc | 40 | ||||||||
| 1,922,563 | AT&T, Inc | 40,297 | ||||||||
| 570 | Atmos Energy Corp | 64 | ||||||||
| 926 | * | Autodesk, Inc | 159 | |||||||
| 361,808 | Automatic Data Processing, Inc | 75,994 | ||||||||
| 1,982 | * | AutoZone, Inc | 4,260 | |||||||
| 368 | * | Avalara, Inc | 26 | |||||||
| 45,039 | AvalonBay Communities, Inc | 8,749 | ||||||||
| 20,182 | * | Avantor, Inc | 628 | |||||||
| 235 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 347 | Avery Dennison Corp | $ | 56 | |||||||
| 4,011 | Baker Hughes Co | 116 | ||||||||
| 28,429 | Ball Corp | 1,955 | ||||||||
| 1,533,797 | Bank of America Corp | 47,747 | ||||||||
| 602,504 | Bank of New York Mellon Corp | 25,130 | ||||||||
| 1,084 | Bath & Body Works, Inc | 29 | ||||||||
| 76,666 | Baxter International, Inc | 4,924 | ||||||||
| 59,532 | Becton Dickinson & Co | 14,676 | ||||||||
| 802 | Bentley Systems, Inc | 27 | ||||||||
| 348,803 | * | Berkshire Hathaway, Inc (Class B) | 95,230 | |||||||
| 27,781 | Best Buy Co, Inc | 1,811 | ||||||||
| 392 | * | Bill.Com Holdings, Inc | 43 | |||||||
| 618 | * | Biogen, Inc | 126 | |||||||
| 774 | * | BioMarin Pharmaceutical, Inc | 64 | |||||||
| 19,132 | * | Bio-Rad Laboratories, Inc (Class A) | 9,470 | |||||||
| 165 | Bio-Techne Corp | 57 | ||||||||
| 653 | * | Black Knight, Inc | 43 | |||||||
| 39,760 | BlackRock, Inc | 24,215 | ||||||||
| 145,416 | Blackstone, Inc | 13,266 | ||||||||
| 2,181 | * | Block, Inc | 134 | |||||||
| 258,584 | * | Boeing Co | 35,354 | |||||||
| 34,216 | * | Booking Holdings, Inc | 59,843 | |||||||
| 561 | Booz Allen Hamilton Holding Co | 51 | ||||||||
| 1,010 | BorgWarner, Inc | 34 | ||||||||
| 22,320 | Boston Properties, Inc | 1,986 | ||||||||
| 1,924,544 | * | Boston Scientific Corp | 71,728 | |||||||
| 1,997,508 | Bristol-Myers Squibb Co | 153,808 | ||||||||
| 327,378 | Broadcom, Inc | 159,044 | ||||||||
| 491 | Broadridge Financial Solutions, Inc | 70 | ||||||||
| 1,009 | Brown & Brown, Inc | 59 | ||||||||
| 1,303 | Brown-Forman Corp (Class B) | 91 | ||||||||
| 82,537 | Bunge Ltd | 7,485 | ||||||||
| 61,002 | * | Burlington Stores, Inc | 8,310 | |||||||
| 23 | Cable One, Inc | 30 | ||||||||
| 307,645 | Cabot Oil & Gas Corp | 7,934 | ||||||||
| 1,167 | * | Cadence Design Systems, Inc | 175 | |||||||
| 901 | * | Caesars Entertainment, Inc | 35 | |||||||
| 413 | Camden Property Trust | 56 | ||||||||
| 889 | Campbell Soup Co | 43 | ||||||||
| 2,462 | Capital One Financial Corp | 257 | ||||||||
| 1,166 | Cardinal Health, Inc | 61 | ||||||||
| 825 | Carlyle Group, Inc | 26 | ||||||||
| 680 | * | CarMax, Inc | 62 | |||||||
| 80,258 | *,e | Carnival Corp | 694 | |||||||
| 1,559,734 | Carrier Global Corp | 55,620 | ||||||||
| 533 | *,e | Carvana Co | 12 | |||||||
| 50,907 | * | Catalent, Inc | 5,462 | |||||||
| 480,303 | Caterpillar, Inc | 85,859 | ||||||||
| 449 | CBOE Global Markets, Inc | 51 | ||||||||
| 1,408 | CBRE Group, Inc | 104 | ||||||||
| 400,738 | CDW Corp | 63,140 | ||||||||
| 27,275 | Celanese Corp (Series A) | 3,208 | ||||||||
| 300,703 | * | Centene Corp | 25,442 | |||||||
| 897,804 | Centerpoint Energy, Inc | 26,557 | ||||||||
| 236 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 576 | * | Ceridian HCM Holding, Inc | $ | 27 | ||||||
| 35,275 | CF Industries Holdings, Inc | 3,024 | ||||||||
| 542 | CH Robinson Worldwide, Inc | 55 | ||||||||
| 13,493 | * | Charles River Laboratories International, Inc | 2,887 | |||||||
| 530,258 | Charles Schwab Corp | 33,502 | ||||||||
| 36,295 | * | Charter Communications, Inc | 17,005 | |||||||
| 69,495 | Cheniere Energy, Inc | 9,245 | ||||||||
| 399,408 | Chevron Corp | 57,826 | ||||||||
| 530 | *,e | Chewy, Inc | 18 | |||||||
| 4,063 | * | Chipotle Mexican Grill, Inc (Class A) | 5,311 | |||||||
| 366,958 | Chubb Ltd | 72,137 | ||||||||
| 1,021 | Church & Dwight Co, Inc | 95 | ||||||||
| 159,414 | Cigna Corp | 42,009 | ||||||||
| 641 | Cincinnati Financial Corp | 76 | ||||||||
| 393 | Cintas Corp | 147 | ||||||||
| 1,552,842 | Cisco Systems, Inc | 66,213 | ||||||||
| 67,647 | Citigroup, Inc | 3,111 | ||||||||
| 562,493 | Citizens Financial Group, Inc | 20,075 | ||||||||
| 528 | Citrix Systems, Inc | 51 | ||||||||
| 1,300 | * | Clarivate Analytics plc | 18 | |||||||
| 2,206 | * | Cleveland-Cliffs, Inc | 34 | |||||||
| 27,305 | Clorox Co | 3,849 | ||||||||
| 1,052 | * | Cloudflare, Inc | 46 | |||||||
| 77,421 | CME Group, Inc | 15,848 | ||||||||
| 59,764 | CMS Energy Corp | 4,034 | ||||||||
| 2,902,462 | Coca-Cola Co | 182,594 | ||||||||
| 732 | Cognex Corp | 31 | ||||||||
| 2,207 | Cognizant Technology Solutions Corp (Class A) | 149 | ||||||||
| 504 | *,e | Coinbase Global, Inc | 24 | |||||||
| 213,743 | Colgate-Palmolive Co | 17,129 | ||||||||
| 2,201,885 | Comcast Corp (Class A) | 86,402 | ||||||||
| 259,333 | ConAgra Brands, Inc | 8,880 | ||||||||
| 703,977 | ConocoPhillips | 63,224 | ||||||||
| 1,490 | Consolidated Edison, Inc | 142 | ||||||||
| 62,395 | Constellation Brands, Inc (Class A) | 14,542 | ||||||||
| 92,593 | Constellation Energy Corp | 5,302 | ||||||||
| 26,265 | Cooper Cos, Inc | 8,224 | ||||||||
| 898 | * | Copart, Inc | 98 | |||||||
| 3,381 | Corning, Inc | 107 | ||||||||
| 244,942 | Corteva, Inc | 13,261 | ||||||||
| 1,662 | * | CoStar Group, Inc | 100 | |||||||
| 375,025 | Costco Wholesale Corp | 179,742 | ||||||||
| 9,536 | * | Coty, Inc | 76 | |||||||
| 314 | * | Coupa Software, Inc | 18 | |||||||
| 832 | * | Crowdstrike Holdings, Inc | 140 | |||||||
| 195,141 | Crown Castle International Corp | 32,858 | ||||||||
| 888,943 | Crown Holdings, Inc | 81,934 | ||||||||
| 476,923 | CSX Corp | 13,859 | ||||||||
| 13,564 | Cummins, Inc | 2,625 | ||||||||
| 591,283 | CVS Health Corp | 54,788 | ||||||||
| 245,528 | Danaher Corp | 62,246 | ||||||||
| 32,101 | Darden Restaurants, Inc | 3,631 | ||||||||
| 945 | * | Datadog, Inc | 90 | |||||||
| 243 | * | DaVita, Inc | 19 | |||||||
| 237 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 170,786 | Deere & Co | $ | 51,145 | |||||||
| 1,220 | Dell Technologies, Inc | 56 | ||||||||
| 224,994 | * | Delta Air Lines, Inc | 6,518 | |||||||
| 920 | Dentsply Sirona, Inc | 33 | ||||||||
| 175,780 | Devon Energy Corp | 9,687 | ||||||||
| 53,732 | * | Dexcom, Inc | 4,005 | |||||||
| 562,176 | Diamondback Energy, Inc | 68,108 | ||||||||
| 39,648 | Digital Realty Trust, Inc | 5,148 | ||||||||
| 198,656 | Discover Financial Services | 18,789 | ||||||||
| 59,946 | * | DISH Network Corp (Class A) | 1,075 | |||||||
| 833 | * | DocuSign, Inc | 48 | |||||||
| 45,318 | Dollar General Corp | 11,123 | ||||||||
| 72,597 | * | Dollar Tree, Inc | 11,314 | |||||||
| 424,389 | Dominion Energy, Inc | 33,871 | ||||||||
| 153 | Domino’s Pizza, Inc | 60 | ||||||||
| 754 | * | DoorDash, Inc | 48 | |||||||
| 606 | Dover Corp | 74 | ||||||||
| 967,275 | Dow, Inc | 49,921 | ||||||||
| 1,416 | DR Horton, Inc | 94 | ||||||||
| 1,212 | * | Dropbox, Inc | 25 | |||||||
| 815 | DTE Energy Co | 103 | ||||||||
| 202,830 | Duke Energy Corp | 21,745 | ||||||||
| 50,215 | Duke Realty Corp | 2,759 | ||||||||
| 749,872 | DuPont de Nemours, Inc | 41,678 | ||||||||
| 842 | * | Dynatrace, Inc | 33 | |||||||
| 12,095 | Eastman Chemical Co | 1,086 | ||||||||
| 398,371 | Eaton Corp | 50,191 | ||||||||
| 193,311 | eBay, Inc | 8,055 | ||||||||
| 53,980 | Ecolab, Inc | 8,300 | ||||||||
| 101,145 | Edison International | 6,396 | ||||||||
| 312,789 | * | Edwards Lifesciences Corp | 29,743 | |||||||
| 1,792 | * | Elanco Animal Health, Inc | 35 | |||||||
| 1,183 | Electronic Arts, Inc | 144 | ||||||||
| 112,147 | Elevance Health, Inc | 54,120 | ||||||||
| 227,000 | Eli Lilly & Co | 73,600 | ||||||||
| 2,499 | Emerson Electric Co | 199 | ||||||||
| 564 | * | Enphase Energy, Inc | 110 | |||||||
| 570 | Entegris, Inc | 53 | ||||||||
| 55,099 | Entergy Corp | 6,206 | ||||||||
| 255,360 | EOG Resources, Inc | 28,202 | ||||||||
| 239 | * | EPAM Systems, Inc | 70 | |||||||
| 1,426 | EQT Corp | 49 | ||||||||
| 514 | Equifax, Inc | 94 | ||||||||
| 9,752 | Equinix, Inc | 6,407 | ||||||||
| 1,316,428 | Equitable Holdings, Inc | 34,319 | ||||||||
| 144,339 | Equity Lifestyle Properties, Inc | 10,172 | ||||||||
| 90,806 | Equity Residential | 6,558 | ||||||||
| 107 | Erie Indemnity Co (Class A) | 21 | ||||||||
| 1,010 | Essential Utilities Inc | 46 | ||||||||
| 15,275 | Essex Property Trust, Inc | 3,995 | ||||||||
| 87,109 | Estee Lauder Cos (Class A) | 22,184 | ||||||||
| 8,425 | * | Etsy, Inc | 617 | |||||||
| 52,599 | Everest Re Group Ltd | 14,742 | ||||||||
| 238 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 965 | Evergy, Inc | $ | 63 | |||||||
| 1,449 | Eversource Energy | 122 | ||||||||
| 733 | * | Exact Sciences Corp | 29 | |||||||
| 288,717 | Exelon Corp | 13,085 | ||||||||
| 30,980 | * | Expedia Group, Inc | 2,938 | |||||||
| 713 | Expeditors International of Washington, Inc | 70 | ||||||||
| 28,860 | Extra Space Storage, Inc | 4,910 | ||||||||
| 2,635,969 | Exxon Mobil Corp | 225,744 | ||||||||
| 256 | * | F5 Networks, Inc | 39 | |||||||
| 159 | Factset Research Systems, Inc | 61 | ||||||||
| 111 | * | Fair Isaac Corp | 45 | |||||||
| 2,422 | Fastenal Co | 121 | ||||||||
| 4,406 | FedEx Corp | 999 | ||||||||
| 116,158 | Ferguson plc | 13,012 | ||||||||
| 1,133 | Fidelity National Financial Inc | 42 | ||||||||
| 2,565 | Fidelity National Information Services, Inc | 235 | ||||||||
| 1,068,843 | Fifth Third Bancorp | 35,913 | ||||||||
| 50 | First Citizens Bancshares, Inc (Class A) | 33 | ||||||||
| 159,176 | First Republic Bank | 22,953 | ||||||||
| 589,050 | FirstEnergy Corp | 22,614 | ||||||||
| 16,202 | * | Fiserv, Inc | 1,442 | |||||||
| 325 | * | FleetCor Technologies, Inc | 68 | |||||||
| 181,642 | Flowserve Corp | 5,200 | ||||||||
| 529 | FMC Corp | 57 | ||||||||
| 16,550 | Ford Motor Co | 184 | ||||||||
| 2,875 | * | Fortinet, Inc | 163 | |||||||
| 424,641 | Fortive Corp | 23,092 | ||||||||
| 565 | Fortune Brands Home & Security, Inc | 34 | ||||||||
| 1,329 | Fox Corp (Class A) | 43 | ||||||||
| 624 | Fox Corp (Class B) | 19 | ||||||||
| 1,268 | e | Franklin Resources, Inc | 30 | |||||||
| 3,915,360 | Freeport-McMoRan, Inc (Class B) | 114,563 | ||||||||
| 86,405 | Gaming and Leisure Properties, Inc | 3,963 | ||||||||
| 649 | Garmin Ltd | 64 | ||||||||
| 128,263 | * | Gartner, Inc | 31,018 | |||||||
| 268 | * | Generac Holdings, Inc | 56 | |||||||
| 993 | General Dynamics Corp | 220 | ||||||||
| 4,625 | General Electric Co | 294 | ||||||||
| 71,338 | General Mills, Inc | 5,382 | ||||||||
| 5,808 | * | General Motors Co | 184 | |||||||
| 597 | Genuine Parts Co | 79 | ||||||||
| 191,581 | Gilead Sciences, Inc | 11,842 | ||||||||
| 1,173,994 | GlaxoSmithKline plc | 25,301 | ||||||||
| 89,343 | Global Payments, Inc | 9,885 | ||||||||
| 137,009 | Globe Life, Inc | 13,354 | ||||||||
| 703 | * | GoDaddy, Inc | 49 | |||||||
| 172,911 | Goldman Sachs Group, Inc | 51,358 | ||||||||
| 784,010 | * | Grab Holdings Ltd. | 1,984 | |||||||
| 333 | * | Guidewire Software, Inc | 24 | |||||||
| 1,262,556 | Halliburton Co | 39,594 | ||||||||
| 208,239 | Hartford Financial Services Group, Inc | 13,625 | ||||||||
| 555 | Hasbro, Inc | 45 | ||||||||
| 66,028 | HCA Healthcare, Inc | 11,097 | ||||||||
| 25,000 | Healthcare Trust of America, Inc | 698 | ||||||||
| 239 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 148,976 | Healthpeak Properties Inc | $ | 3,860 | |||||||
| 183 | HEICO Corp | 24 | ||||||||
| 308 | HEICO Corp (Class A) | 32 | ||||||||
| 123,093 | Helmerich & Payne, Inc | 5,300 | ||||||||
| 577 | * | Henry Schein, Inc | 44 | |||||||
| 613 | Hershey Co | 132 | ||||||||
| 193,100 | Hess Corp | 20,457 | ||||||||
| 5,474 | Hewlett Packard Enterprise Co | 73 | ||||||||
| 1,174 | Hilton Worldwide Holdings, Inc | 131 | ||||||||
| 41,654 | * | Hologic, Inc | 2,887 | |||||||
| 662,158 | Home Depot, Inc | 181,610 | ||||||||
| 734,738 | Honeywell International, Inc | 127,705 | ||||||||
| 108,172 | * | Horizon Therapeutics Plc | 8,628 | |||||||
| 1,256 | Hormel Foods Corp | 59 | ||||||||
| 153,931 | Host Hotels and Resorts, Inc | 2,414 | ||||||||
| 1,586 | Howmet Aerospace, Inc | 50 | ||||||||
| 4,432 | HP, Inc | 145 | ||||||||
| 194,276 | Hubbell, Inc | 34,694 | ||||||||
| 190 | * | HubSpot, Inc | 57 | |||||||
| 25,211 | Humana, Inc | 11,801 | ||||||||
| 6,051 | Huntington Bancshares, Inc | 73 | ||||||||
| 168 | Huntington Ingalls | 37 | ||||||||
| 335 | * | IAC | 25 | |||||||
| 320 | IDEX Corp | 58 | ||||||||
| 354 | * | IDEXX Laboratories, Inc | 124 | |||||||
| 35,892 | Illinois Tool Works, Inc | 6,541 | ||||||||
| 55,057 | * | Illumina, Inc | 10,150 | |||||||
| 792 | * | Incyte Corp | 60 | |||||||
| 53,000 | Independence Realty Trust, Inc | 1,099 | ||||||||
| 814,669 | Ingersoll Rand, Inc | 34,281 | ||||||||
| 12,372 | Innovative Industrial Properties, Inc | 1,359 | ||||||||
| 291 | * | Insulet Corp | 63 | |||||||
| 2,366,688 | Intel Corp | 88,538 | ||||||||
| 260,486 | Intercontinental Exchange Group, Inc | 24,496 | ||||||||
| 3,784 | International Business Machines Corp | 534 | ||||||||
| 594,686 | International Flavors & Fragrances, Inc | 70,839 | ||||||||
| 63,476 | International Paper Co | 2,655 | ||||||||
| 213,376 | Interpublic Group of Cos, Inc | 5,874 | ||||||||
| 234,878 | Intuit, Inc | 90,531 | ||||||||
| 128,737 | * | Intuitive Surgical, Inc | 25,839 | |||||||
| 1,454 | Invesco Ltd | 23 | ||||||||
| 52,557 | Invitation Homes, Inc | 1,870 | ||||||||
| 80,313 | * | IQVIA Holdings, Inc | 17,427 | |||||||
| 1,219 | Iron Mountain, Inc | 59 | ||||||||
| 118,884 | e | iShares MSCI Canada Index Fund | 4,004 | |||||||
| 28,823 | e | iShares MSCI South Korea Index Fund | 1,677 | |||||||
| 456 | J.M. Smucker Co | 58 | ||||||||
| 306 | Jack Henry & Associates, Inc | 55 | ||||||||
| 28,720 | e | Jackson Financial, Inc | 768 | |||||||
| 544 | Jacobs Engineering Group, Inc | 69 | ||||||||
| 259 | * | Jazz Pharmaceuticals plc | 40 | |||||||
| 4,718 | JB Hunt Transport Services, Inc | 743 | ||||||||
| 181,700 | JBS S.A. | 1,097 | ||||||||
| 850,796 | Johnson & Johnson | 151,025 | ||||||||
| 240 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 2,956 | Johnson Controls International plc | $ | 142 | |||||||
| 1,173,546 | JPMorgan Chase & Co | 132,153 | ||||||||
| 2,124,982 | Juniper Networks, Inc | 60,562 | ||||||||
| 1,078 | Kellogg Co | 77 | ||||||||
| 1,350,505 | Keurig Dr Pepper, Inc | 47,794 | ||||||||
| 3,904 | Keycorp | 67 | ||||||||
| 769 | * | Keysight Technologies, Inc | 106 | |||||||
| 18,864 | Kilroy Realty Corp | 987 | ||||||||
| 91,627 | Kimberly-Clark Corp | 12,383 | ||||||||
| 2,595 | Kimco Realty Corp | 51 | ||||||||
| 547,464 | Kinder Morgan, Inc | 9,176 | ||||||||
| 30,905 | KKR & Co, Inc | 1,431 | ||||||||
| 341,934 | e | KLA Corp | 109,104 | |||||||
| 664 | Knight-Swift Transportation Holdings, Inc | 31 | ||||||||
| 3,089 | Kraft Heinz Co | 118 | ||||||||
| 217,047 | Kroger Co | 10,273 | ||||||||
| 812 | L3Harris Technologies, Inc | 196 | ||||||||
| 393 | Laboratory Corp of America Holdings | 92 | ||||||||
| 587 | Lam Research Corp | 250 | ||||||||
| 160,671 | * | Las Vegas Sands Corp | 5,397 | |||||||
| 251 | Lear Corp | 32 | ||||||||
| 10,471 | * | Legend Biotech Corp (ADR) | 576 | |||||||
| 562 | Leidos Holdings, Inc | 57 | ||||||||
| 1,100 | Lennar Corp (Class A) | 78 | ||||||||
| 139 | Lennox International, Inc | 29 | ||||||||
| 569 | * | Liberty Broadband Corp (Class C) | 66 | |||||||
| 821 | * | Liberty Media Group (Class C) | 52 | |||||||
| 319 | Liberty SiriusXM Group (Class A) | 12 | ||||||||
| 701 | * | Liberty SiriusXM Group (Class C) | 25 | |||||||
| 689 | Lincoln National Corp | 32 | ||||||||
| 709 | * | Live Nation, Inc | 59 | |||||||
| 1,139 | LKQ Corp | 56 | ||||||||
| 1,031 | Lockheed Martin Corp | 443 | ||||||||
| 888 | Loews Corp | 53 | ||||||||
| 277,801 | Lowe’s Companies, Inc | 48,524 | ||||||||
| 337 | LPL Financial Holdings, Inc | 62 | ||||||||
| 1,739 | *,e | Lucid Group, Inc | 30 | |||||||
| 129,551 | * | Lululemon Athletica, Inc | 35,317 | |||||||
| 3,875 | Lumen Technologies, Inc | 42 | ||||||||
| 1,287 | * | Lyft, Inc (Class A) | 17 | |||||||
| 121,173 | LyondellBasell Industries NV | 10,598 | ||||||||
| 194,599 | M&T Bank Corp | 31,017 | ||||||||
| 3,023 | Marathon Oil Corp | 68 | ||||||||
| 205,060 | Marathon Petroleum Corp | 16,858 | ||||||||
| 57 | * | Markel Corp | 74 | |||||||
| 159 | MarketAxess Holdings, Inc | 41 | ||||||||
| 16,949 | Marriott International, Inc (Class A) | 2,305 | ||||||||
| 116,332 | Marsh & McLennan Cos, Inc | 18,061 | ||||||||
| 263 | Martin Marietta Materials, Inc | 79 | ||||||||
| 3,550 | Marvell Technology, Inc | 155 | ||||||||
| 1,010 | Masco Corp | 51 | ||||||||
| 221 | * | Masimo Corp | 29 | |||||||
| 697,443 | Mastercard, Inc (Class A) | 220,029 | ||||||||
| 831,188 | * | Match Group, Inc | 57,926 | |||||||
| 241 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,051 | McCormick & Co, Inc | $ | 88 | |||||||
| 654,164 | McDonald’s Corp | 161,500 | ||||||||
| 72,478 | McKesson Corp | 23,643 | ||||||||
| 2,511 | Medical Properties Trust, Inc | 38 | ||||||||
| 1,018,213 | Medtronic plc | 91,385 | ||||||||
| 1,380,020 | Merck & Co, Inc | 125,816 | ||||||||
| 334,086 | * | Meta Platforms, Inc | 53,871 | |||||||
| 255,191 | Metlife, Inc | 16,023 | ||||||||
| 583 | * | Mettler-Toledo International, Inc | 670 | |||||||
| 1,478 | MGM Resorts International | 43 | ||||||||
| 2,339 | Microchip Technology, Inc | 136 | ||||||||
| 4,712 | Micron Technology, Inc | 260 | ||||||||
| 3,285,194 | Microsoft Corp | 843,736 | ||||||||
| 23,120 | Mid-America Apartment Communities, Inc | 4,038 | ||||||||
| 36,424 | * | Moderna, Inc | 5,203 | |||||||
| 219 | * | Mohawk Industries, Inc | 27 | |||||||
| 246 | * | Molina Healthcare, Inc | 69 | |||||||
| 760 | Molson Coors Brewing Co (Class B) | 41 | ||||||||
| 707,598 | Mondelez International, Inc | 43,935 | ||||||||
| 281 | * | MongoDB, Inc | 73 | |||||||
| 186 | Monolithic Power Systems, Inc | 71 | ||||||||
| 916,447 | * | Monster Beverage Corp | 84,955 | |||||||
| 5,895 | Moody’s Corp | 1,603 | ||||||||
| 1,421,260 | Morgan Stanley | 108,101 | ||||||||
| 129,189 | Mosaic Co | 6,102 | ||||||||
| 708 | Motorola Solutions, Inc | 148 | ||||||||
| 2,938 | MSCI, Inc (Class A) | 1,211 | ||||||||
| 484 | Nasdaq Inc | 74 | ||||||||
| 52,173 | National Storage Affiliates Trust | 2,612 | ||||||||
| 646,612 | Nestle S.A. | 75,571 | ||||||||
| 935 | NetApp, Inc | 61 | ||||||||
| 101,366 | * | Netflix, Inc | 17,726 | |||||||
| 401 | * | Neurocrine Biosciences, Inc | 39 | |||||||
| 1,701 | Newell Brands Inc | 32 | ||||||||
| 75,398 | Newmont Goldcorp Corp | 4,499 | ||||||||
| 1,607 | News Corp (Class A) | 25 | ||||||||
| 796,198 | NextEra Energy, Inc | 61,674 | ||||||||
| 494,565 | * | NexTier Oilfield Solutions, Inc | 4,703 | |||||||
| 990,529 | Nike, Inc (Class B) | 101,232 | ||||||||
| 1,706 | NiSource, Inc | 50 | ||||||||
| 220 | Nordson Corp | 45 | ||||||||
| 1,009 | Norfolk Southern Corp | 229 | ||||||||
| 831 | Northern Trust Corp | 80 | ||||||||
| 180,365 | Northrop Grumman Corp | 86,317 | ||||||||
| 2,448 | NortonLifelock, Inc | 54 | ||||||||
| 395 | * | Novocure Ltd | 27 | |||||||
| 69,214 | NRG Energy, Inc | 2,642 | ||||||||
| 51,933 | Nucor Corp | 5,422 | ||||||||
| 198,652 | NVIDIA Corp | 30,114 | ||||||||
| 13 | * | NVR, Inc | 52 | |||||||
| 29,505 | Occidental Petroleum Corp | 1,737 | ||||||||
| 625 | * | Okta, Inc | 57 | |||||||
| 411 | Old Dominion Freight Line | 105 | ||||||||
| 879 | Omnicom Group, Inc | 56 | ||||||||
| 242 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,820 | * | ON Semiconductor Corp | $ | 92 | ||||||
| 128,629 | ONEOK, Inc | 7,139 | ||||||||
| 1,768,749 | Oracle Corp | 123,583 | ||||||||
| 5,297 | * | O’Reilly Automotive, Inc | 3,346 | |||||||
| 92,163 | Otis Worldwide Corp | 6,513 | ||||||||
| 34,992 | Owens Corning, Inc | 2,600 | ||||||||
| 1,462 | PACCAR, Inc | 120 | ||||||||
| 11,197 | Packaging Corp of America | 1,540 | ||||||||
| 6,900 | * | Palantir Technologies, Inc | 63 | |||||||
| 182,480 | * | Palo Alto Networks, Inc | 90,134 | |||||||
| 7,000 | Parade Technologies Ltd | 273 | ||||||||
| 177,812 | Parker-Hannifin Corp | 43,751 | ||||||||
| 1,366 | Paychex, Inc | 156 | ||||||||
| 215 | * | Paycom Software, Inc | 60 | |||||||
| 221,951 | * | PayPal Holdings, Inc | 15,501 | |||||||
| 13,047 | * | Peloton Interactive, Inc | 120 | |||||||
| 695 | Pentair plc | 32 | ||||||||
| 350,888 | PepsiCo, Inc | 58,479 | ||||||||
| 59,183 | * | Performance Food Group Co | 2,721 | |||||||
| 531 | PerkinElmer, Inc | 76 | ||||||||
| 204,366 | *,e | Petco Health & Wellness Co, Inc | 3,012 | |||||||
| 1,381,977 | Pfizer, Inc | 72,457 | ||||||||
| 408,536 | *,b | PG&E Corp | 4,077 | |||||||
| 302,449 | Philip Morris International, Inc | 29,864 | ||||||||
| 74,786 | Phillips 66 | 6,132 | ||||||||
| 30,014 | * | Pinterest, Inc | 545 | |||||||
| 147,709 | Pioneer Natural Resources Co | 32,951 | ||||||||
| 2,183 | *,e | Plug Power, Inc | 36 | |||||||
| 33,235 | PNC Financial Services Group, Inc | 5,243 | ||||||||
| 169 | Pool Corp | 59 | ||||||||
| 142,544 | PPG Industries, Inc | 16,298 | ||||||||
| 3,094 | PPL Corp | 84 | ||||||||
| 1,099 | Principal Financial Group | 73 | ||||||||
| 1,446,722 | Procter & Gamble Co | 208,024 | ||||||||
| 122,095 | Progressive Corp | 14,196 | ||||||||
| 247,280 | Prologis, Inc | 29,093 | ||||||||
| 198,615 | * | ProPetro Holding Corp | 1,986 | |||||||
| 1,582 | Prudential Financial, Inc | 151 | ||||||||
| 467 | * | PTC, Inc | 50 | |||||||
| 2,113 | Public Service Enterprise Group, Inc | 134 | ||||||||
| 34,363 | Public Storage, Inc | 10,744 | ||||||||
| 1,046 | Pulte Homes, Inc | 41 | ||||||||
| 456 | * | Qorvo, Inc | 43 | |||||||
| 4,742 | QUALCOMM, Inc | 606 | ||||||||
| 605 | Quanta Services, Inc | 76 | ||||||||
| 503 | Quest Diagnostics, Inc | 67 | ||||||||
| 786 | Raymond James Financial, Inc | 70 | ||||||||
| 748,647 | Raytheon Technologies Corp | 71,952 | ||||||||
| 51,093 | Realty Income Corp | 3,488 | ||||||||
| 127,876 | Regency Centers Corp | 7,584 | ||||||||
| 24,220 | * | Regeneron Pharmaceuticals, Inc | 14,317 | |||||||
| 3,943 | Regions Financial Corp | 74 | ||||||||
| 932 | Republic Services, Inc | 122 | ||||||||
| 615 | Resmed, Inc | 129 | ||||||||
| 243 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 353,842 | Rexford Industrial Realty, Inc | $ | 20,378 | |||||||
| 337 | * | RingCentral, Inc | 18 | |||||||
| 751 | *,e | Rivian Automotive, Inc | 19 | |||||||
| 466 | Robert Half International, Inc | 35 | ||||||||
| 1,479 | * | ROBLOX Corp | 49 | |||||||
| 450,431 | Roche Holding AG. | 150,579 | ||||||||
| 11,576 | Rockwell Automation, Inc | 2,307 | ||||||||
| 8,392 | * | Roku, Inc | 689 | |||||||
| 932 | Rollins, Inc | 33 | ||||||||
| 69,703 | Roper Technologies, Inc | 27,508 | ||||||||
| 39,767 | Ross Stores, Inc | 2,793 | ||||||||
| 38,853 | * | Royal Caribbean Cruises Ltd | 1,356 | |||||||
| 1,457 | Royalty Pharma plc | 61 | ||||||||
| 28,585 | RPM International, Inc | 2,250 | ||||||||
| 75,692 | S&P Global, Inc | 25,513 | ||||||||
| 110,849 | Sabra Healthcare REIT, Inc | 1,549 | ||||||||
| 402,836 | * | salesforce.com, Inc | 66,484 | |||||||
| 19,356 | SBA Communications Corp | 6,195 | ||||||||
| 66,797 | Schlumberger Ltd | 2,389 | ||||||||
| 402,360 | Schneider Electric S.A. | 47,943 | ||||||||
| 875 | Seagate Technology Holdings plc | 63 | ||||||||
| 519,723 | * | Seagen, Inc | 91,960 | |||||||
| 18,138 | Sealed Air Corp | 1,047 | ||||||||
| 495 | SEI Investments Co | 27 | ||||||||
| 77,751 | Sempra Energy | 11,684 | ||||||||
| 663 | Sensata Technologies Holding plc | 27 | ||||||||
| 380,088 | * | ServiceNow, Inc | 180,739 | |||||||
| 48,051 | Sherwin-Williams Co | 10,759 | ||||||||
| 264 | Signature Bank | 47 | ||||||||
| 115,376 | Simon Property Group, Inc | 10,952 | ||||||||
| 3,322 | e | Sirius XM Holdings, Inc | 20 | |||||||
| 690 | Skyworks Solutions, Inc | 64 | ||||||||
| 4,002 | e | SL Green Realty Corp | 185 | |||||||
| 4,611 | * | Snap, Inc | 61 | |||||||
| 225 | Snap-On, Inc | 44 | ||||||||
| 902 | * | Snowflake, Inc | 125 | |||||||
| 222 | * | SolarEdge Technologies, Inc | 61 | |||||||
| 4,461 | Southern Co | 318 | ||||||||
| 623 | * | Southwest Airlines Co | 23 | |||||||
| 668 | * | Splunk, Inc | 59 | |||||||
| 971 | SS&C Technologies Holdings, Inc | 56 | ||||||||
| 17,658 | Stanley Black & Decker, Inc | 1,852 | ||||||||
| 266,010 | Starbucks Corp | 20,321 | ||||||||
| 1,540 | State Street Corp | 95 | ||||||||
| 58,273 | Steel Dynamics, Inc | 3,855 | ||||||||
| 421 | STERIS plc | 87 | ||||||||
| 133,338 | Stryker Corp | 26,525 | ||||||||
| 71,126 | Sun Communities, Inc | 11,335 | ||||||||
| 247 | * | SVB Financial Group | 98 | |||||||
| 2,193 | Synchrony Financial | 61 | ||||||||
| 160,892 | * | Synopsys, Inc | 48,863 | |||||||
| 62,707 | SYSCO Corp | 5,312 | ||||||||
| 960 | T Rowe Price Group, Inc | 109 | ||||||||
| 428,515 | * | Take-Two Interactive Software, Inc | 52,506 | |||||||
| 244 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 912 | Targa Resources Investments, Inc | $ | 54 | |||||||
| 508,932 | Target Corp | 71,876 | ||||||||
| 675 | *,e | Teladoc, Inc | 22 | |||||||
| 199 | * | Teledyne Technologies, Inc | 75 | |||||||
| 197 | Teleflex, Inc | 48 | ||||||||
| 683 | Teradyne, Inc | 61 | ||||||||
| 48,605 | Terreno Realty Corp | 2,709 | ||||||||
| 238,498 | * | Tesla, Inc | 160,609 | |||||||
| 3,886 | Texas Instruments, Inc | 597 | ||||||||
| 28,673 | Textron, Inc | 1,751 | ||||||||
| 94,741 | Thermo Fisher Scientific, Inc | 51,471 | ||||||||
| 296,861 | TJX Companies, Inc | 16,580 | ||||||||
| 337,244 | * | T-Mobile US, Inc | 45,373 | |||||||
| 474 | Tractor Supply Co | 92 | ||||||||
| 1,854 | * | Trade Desk, Inc | 78 | |||||||
| 450 | Tradeweb Markets, Inc | 31 | ||||||||
| 252,298 | *,e | Traeger, Inc | 1,072 | |||||||
| 420,703 | Trane Technologies plc | 54,637 | ||||||||
| 222 | * | TransDigm Group, Inc | 119 | |||||||
| 807 | TransUnion | 65 | ||||||||
| 1,016 | Travelers Cos, Inc | 172 | ||||||||
| 1,057 | * | Trimble Inc | 62 | |||||||
| 5,588 | Truist Financial Corp | 265 | ||||||||
| 722 | * | Twilio, Inc | 61 | |||||||
| 3,369 | * | Twitter, Inc | 126 | |||||||
| 174 | * | Tyler Technologies, Inc | 58 | |||||||
| 30,594 | Tyson Foods, Inc (Class A) | 2,633 | ||||||||
| 6,168 | * | Uber Technologies, Inc | 126 | |||||||
| 1,339 | UDR, Inc | 62 | ||||||||
| 883 | UGI Corp | 34 | ||||||||
| 21,075 | * | Ulta Beauty, Inc | 8,124 | |||||||
| 880,287 | Union Pacific Corp | 187,748 | ||||||||
| 112,895 | United Parcel Service, Inc (Class B) | 20,608 | ||||||||
| 124,213 | * | United Rentals, Inc | 30,173 | |||||||
| 520,096 | UnitedHealth Group, Inc | 267,137 | ||||||||
| 804 | *,e | Unity Software, Inc | 30 | |||||||
| 284 | Universal Health Services, Inc (Class B) | 29 | ||||||||
| 293 | *,e | Upstart Holdings, Inc | 9 | |||||||
| 397,420 | US Bancorp | 18,289 | ||||||||
| 6,105 | Vail Resorts, Inc | 1,331 | ||||||||
| 848,664 | Valero Energy Corp | 90,196 | ||||||||
| 309,970 | Vanguard Emerging Markets ETF | 12,910 | ||||||||
| 50,000 | e | Vanguard FTSE Developed Markets ETF | 2,040 | |||||||
| 585 | * | Veeva Systems, Inc | 116 | |||||||
| 119,123 | Ventas, Inc | 6,127 | ||||||||
| 417 | * | VeriSign, Inc | 70 | |||||||
| 679 | Verisk Analytics, Inc | 118 | ||||||||
| 787,551 | Verizon Communications, Inc | 39,968 | ||||||||
| 45,326 | * | Vertex Pharmaceuticals, Inc | 12,772 | |||||||
| 34,980 | VF Corp | 1,545 | ||||||||
| 105,670 | ViacomCBS, Inc (Class B) | 2,608 | ||||||||
| 5,089 | Viatris, Inc | 53 | ||||||||
| 187,497 | VICI Properties, Inc | 5,586 | ||||||||
| 870,286 | Visa, Inc (Class A) | 171,351 | ||||||||
| 245 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 93,816 | Vistra Energy Corp | $ | 2,144 | |||||||
| 881 | VMware, Inc (Class A) | 100 | ||||||||
| 686 | Vornado Realty Trust | 20 | ||||||||
| 170,154 | e | Voya Financial, Inc | 10,129 | |||||||
| 559 | Vulcan Materials Co | 79 | ||||||||
| 156,761 | W.R. Berkley Corp | 10,701 | ||||||||
| 109,983 | W.W. Grainger, Inc | 49,980 | ||||||||
| 3,087 | Walgreens Boots Alliance, Inc | 117 | ||||||||
| 1,015,011 | Walmart, Inc | 123,405 | ||||||||
| 1,187,270 | * | Walt Disney Co | 112,078 | |||||||
| 464,264 | * | Warner Bros Discovery, Inc | 6,230 | |||||||
| 39,000 | Washington REIT | 831 | ||||||||
| 1,083 | Waste Connections, Inc | 134 | ||||||||
| 1,744 | Waste Management, Inc | 267 | ||||||||
| 255 | * | Waters Corp | 84 | |||||||
| 317 | *,e | Wayfair, Inc | 14 | |||||||
| 756 | Webster Financial Corp | 32 | ||||||||
| 1,327 | WEC Energy Group, Inc | 134 | ||||||||
| 4,009,183 | Wells Fargo & Co | 157,040 | ||||||||
| 69,352 | Welltower, Inc | 5,711 | ||||||||
| 36,372 | West Pharmaceutical Services, Inc | 10,998 | ||||||||
| 1,317 | * | Western Digital Corp | 59 | |||||||
| 1,656 | Western Union Co | 27 | ||||||||
| 156,506 | Westinghouse Air Brake Technologies Corp | 12,846 | ||||||||
| 71,309 | Westlake Chemical Corp | 6,990 | ||||||||
| 38,365 | WestRock Co | 1,528 | ||||||||
| 140,298 | Weyerhaeuser Co | 4,647 | ||||||||
| 247 | Whirlpool Corp | 38 | ||||||||
| 350,480 | Williams Cos, Inc | 10,938 | ||||||||
| 9,669 | Willis Towers Watson plc | 1,909 | ||||||||
| 825 | * | Workday, Inc | 115 | |||||||
| 802 | WP Carey, Inc | 66 | ||||||||
| 13,254 | * | Wynn Resorts Ltd | 755 | |||||||
| 68,056 | Xcel Energy, Inc | 4,816 | ||||||||
| 757 | Xylem, Inc | 59 | ||||||||
| 460,601 | * | YETI Holdings, Inc | 19,930 | |||||||
| 116,111 | Yum! Brands, Inc | 13,180 | ||||||||
| 223 | * | Zebra Technologies Corp (Class A) | 66 | |||||||
| 513 | * | Zendesk, Inc | 38 | |||||||
| 693 | * | Zillow Group, Inc (Class C) | 22 | |||||||
| 124,752 | Zimmer Biomet Holdings, Inc | 13,106 | ||||||||
| 140,563 | Zoetis, Inc | 24,161 | ||||||||
| 917 | * | Zoom Video Communications, Inc | 99 | |||||||
| 1,103 | * | ZoomInfo Technologies, Inc | 37 | |||||||
| 354 | * | Zscaler, Inc | 53 | |||||||
| TOTAL UNITED STATES | 13,532,075 | |||||||||
| ZAMBIA - 0.0% | ||||||||||
| 201,709 | First Quantum Minerals Ltd | 3,827 | ||||||||
| TOTAL ZAMBIA | 3,827 | |||||||||
| TOTAL COMMON STOCKS | 21,454,373 | |||||||||
| (Cost $21,023,054) | ||||||||||
| 246 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| SHARES | COMPANY | VALUE (000) | ||||||||||||||
| RIGHTS / WARRANTS - 0.0% | ||||||||||||||||
| AUSTRALIA - 0.0% | ||||||||||||||||
| 3,698 | Magellan Financial Group Ltd | $ | 2 | |||||||||||||
| 89,428 | e | PointsBet Holdings Pty Ltd | 0 | ^ | ||||||||||||
| TOTAL AUSTRALIA | 2 | |||||||||||||||
| CHINA - 0.0% | ||||||||||||||||
| 18 | Microport Scientific Corp | 0 | ^ | |||||||||||||
| TOTAL CHINA | 0 | ^ | ||||||||||||||
| SWITZERLAND - 0.0% | ||||||||||||||||
| 200,247 | Cie Financiere Richemont S.A. | 109 | ||||||||||||||
| TOTAL SWITZERLAND | 109 | |||||||||||||||
| TOTAL RIGHTS / WARRANTS | 111 | |||||||||||||||
| (Cost $19) | ||||||||||||||||
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | |||||||||||||
| SHORT-TERM INVESTMENTS - 1.6% | ||||||||||||||||
| GOVERNMENT AGENCY DEBT - 0.6% | ||||||||||||||||
| $ | 11,000,000 | Federal Farm Credit Bank (FFCB) | 0.000 | % | 07/25/22 | 10,990 | ||||||||||
| 9,000,000 | FFCB | 0.000 | 09/23/22 | 8,960 | ||||||||||||
| 2,655,000 | Federal Home Loan Bank (FHLB) | 0.000 | 07/01/22 | 2,655 | ||||||||||||
| 20,820,000 | FHLB | 0.000 | 07/01/22 | 20,820 | ||||||||||||
| 20,000,000 | FHLB | 0.000 | 07/11/22 | 19,992 | ||||||||||||
| 44,000,000 | FHLB | 0.000 | 07/15/22 | 43,976 | ||||||||||||
| 12,500,000 | FHLB | 0.000 | 08/15/22 | 12,474 | ||||||||||||
| 5,000,000 | FHLB | 0.000 | 12/21/22 | 4,937 | ||||||||||||
| 10,000,000 | FHLB | 0.000 | 12/28/22 | 9,868 | ||||||||||||
| TOTAL GOVERNMENT AGENCY DEBT | 134,672 | |||||||||||||||
| REPURCHASE AGREEMENT - 0.3% | ||||||||||||||||
| 66,435,000 | r | Fixed Income Clearing Corp (FICC) | 1.450 | 07/01/22 | 66,435 | |||||||||||
| TOTAL REPURCHASE AGREEMENT | 66,435 | |||||||||||||||
| TREASURY DEBT - 0.1% | ||||||||||||||||
| 10,005,000 | United States Cash Management Bill | 0.000 | 07/05/22 | 10,004 | ||||||||||||
| 2,000,000 | United States Treasury Bill | 0.000 | 07/26/22 | 1,998 | ||||||||||||
| TOTAL TREASURY DEBT | 12,002 | |||||||||||||||
| INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.6% | ||||||||||||||||
| CERTIFICATE OF DEPOSIT - 0.0% | ||||||||||||||||
| 2,500,000 | Mitsubishi Bank | 1.700 | 08/16/22 | 2,500 | ||||||||||||
| 1,000,000 | Nordea Bank Abp | 1.680 | 10/24/22 | 1,000 | ||||||||||||
| 4,000,000 | Nordea Bank Abp | 1.930 | 12/12/22 | 4,000 | ||||||||||||
| TOTAL CERTIFICATE OF DEPOSIT | 7,500 | |||||||||||||||
| 247 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| REPURCHASE AGREEMENT - 0.6% | |||||||||||||||||
| 10,000,000 | s | Citigroup | 1.530 | 07/01/22 | $ | 10,000 | |||||||||||
| 5,000,000 | t | Citigroup | 1.550 | 07/07/22 | 5,000 | ||||||||||||
| 11,277,000 | u | Deutsche Bank | 1.450 | 07/01/22 | 11,277 | ||||||||||||
| 10,000,000 | v | HSBC | 1.550 | 07/01/22 | 10,000 | ||||||||||||
| 5,000,000 | w | HSBC | 1.510 | 07/05/22 | 5,000 | ||||||||||||
| 15,000,000 | x | JP Morgan | 1.550 | 07/01/22 | 15,000 | ||||||||||||
| 5,000,000 | y | Merrill Lynch | 1.460 | 07/01/22 | 5,000 | ||||||||||||
| 15,000,000 | z | Merrill Lynch | 1.550 | 07/01/22 | 15,000 | ||||||||||||
| 15,000,000 | aa | Morgan Stanley | 1.490 | 07/01/22 | 15,000 | ||||||||||||
| 10,000,000 | ab | Nomura | 1.480 | 07/01/22 | 10,000 | ||||||||||||
| 10,000,000 | ac | Royal Bank of Scotland | 1.490 | 07/01/22 | 10,000 | ||||||||||||
| 10,000,000 | ad | Societe Generale | 1.500 | 07/01/22 | 10,000 | ||||||||||||
| TOTAL REPURCHASE AGREEMENT | 121,277 | ||||||||||||||||
| TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED | 128,777 | ||||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | 341,886 | ||||||||||||||||
| (Cost $341,992) | |||||||||||||||||
| TOTAL INVESTMENTS - 100.5% | 21,796,385 | ||||||||||||||||
| (Cost $21,365,081) | |||||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - (0.5)% | (101,016 | ) | |||||||||||||||
| NET ASSETS - 100.0% | $ | 21,695,369 | |||||||||||||||
| ADR | American Depositary Receipt | ||||||||||||||||
| ETF | Exchange Traded Fund | ||||||||||||||||
| GDR | Global Depositary Receipt | ||||||||||||||||
| REIT | Real Estate Investment Trust | ||||||||||||||||
| INR | Indian Rupee | ||||||||||||||||
| * | Non-income producing | ||||||||||||||||
| ^ | Amount represents less than $1,000. | ||||||||||||||||
| † | Security is categorized as Level 3 in the fair value hierarchy. | ||||||||||||||||
| b | In bankruptcy | ||||||||||||||||
| d | All or a portion of these securities have been segregated to cover margin requirements on open futures contracts. | ||||||||||||||||
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan is $180,532,886. | ||||||||||||||||
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/22, the aggregate value of these securities is $210,502,752 or 1.0% of net assets. | ||||||||||||||||
| h | These securities were purchased on a delayed delivery basis. | ||||||||||||||||
| r | Agreement with Fixed Income Clearing Corp (FICC), 1.450% dated 6/30/22 to be repurchased at $66,435,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rate 0.125% and maturity date 10/15/25, valued at $67,763,773. | ||||||||||||||||
| s | Agreement with Citigroup, 1.530% dated 6/30/22 to be repurchased at $10,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 2.000%-3.500% and maturity date 3/20/52, valued at $10,200,892. | ||||||||||||||||
| t | Agreement with Citigroup, 1.550% dated 6/30/22 to be repurchased at $5,000,000 on 7/7/22, collateralized by U.S. Government Agency Securities, with coupon rates 2.000%-3.500% and maturity date 3/20/52, valued at $5,100,721. | ||||||||||||||||
| u | Agreement with Deutsche Bank, 1.450% dated 6/30/22 to be repurchased at $11,277,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rate 0.000% and maturity date 12/1/22, valued at $11,502,577. | ||||||||||||||||
| v | Agreement with HSBC, 1.550% dated 6/30/22 to be repurchased at $10,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 3.500%-4.500% and maturity dates 11/1/28-8/1/45, valued at $10,200,000. | ||||||||||||||||
| w | Agreement with HSBC, 1.510% dated 6/28/22 to be repurchased at $5,000,000 on 7/5/22, collateralized by U.S. Government Agency Securities, with coupon rates 0.000%-1.250% and maturity dates 12/1/22-5/31/28, valued at $5,100,006. | ||||||||||||||||
| 248 |
COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account
| x | Agreement with JP Morgan, 1.550% dated 6/30/22 to be repurchased at $15,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 3.000%-6.000% and maturity dates 7/1/37-3/1/52, valued at $15,300,000. | ||
| y | Agreement with Merrill Lynch, 1.460% dated 6/30/22 to be repurchased at $5,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 1.630% and maturity date 5/15/31 valued at $5,100,011. | ||
| z | Agreement with Merrill Lynch, 1.550% dated 6/30/22 to be repurchased at $15,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 2.000% and maturity date 2/1/52, valued at $15,300,001. | ||
| aa | Agreement with Morgan Stanley, 1.490% dated 6/30/22 to be repurchased at $15,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 1.500%-6.000% and maturity dates 6/1/37-6/1/52, valued at $15,300,000. | ||
| ab | Agreement with Nomura, 1.480% dated 6/30/22 to be repurchased at $10,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 1.250%-3.250% and maturity dates 3/31/24-2/15/30, valued at $10,200,088. | ||
| ac | Agreement with Royal Bank of Scotland, 1.490% dated 6/30/22 to be repurchased at $10,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rates 0.013%-2.880% and maturity dates 2/28/23-11/30/23, valued at $10,200,010. | ||
| ad | Agreement with Societe Generale, 1.500% dated 6/24/22 to be repurchased at $10,000,000 on 7/1/22, collateralized by U.S. Government Agency Securities, with coupon rate 4.000% and maturity date 7/1/49, valued at $10,200,000. | ||
| Cost amounts are in thousands. | |||
| Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands): | ||||||||||||||||||
| Description | Number of long (short) contracts | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation) | |||||||||||||
| MSCI EAFE Index | 331 | 09/16/22 | $ | 32,461 | $ | 30,727 | $ | (1,734 | ) | |||||||||
| S&P 500 E Mini Index | 399 | 09/16/22 | 80,334 | 75,601 | (4,733 | ) | ||||||||||||
| Total | 730 | $ | 112,795 | $ | 106,328 | $ | (6,467 | ) | ||||||||||
| 249 |
COLLEGE RETIREMENT EQUITIES FUND - Growth Account
COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2022
| SHARES | COMPANY | VALUE (000) | ||||||||
| COMMON STOCKS - 99.6% | ||||||||||
| AUTOMOBILES & COMPONENTS - 3.1% | ||||||||||
| 1,291,809 | * | Aptiv plc | $ | 115,061 | ||||||
| 197,781 | *,e | Rivian Automotive, Inc | 5,091 | |||||||
| 1,019,046 | * | Tesla, Inc | 686,246 | |||||||
| TOTAL AUTOMOBILES & COMPONENTS | 806,398 | |||||||||
| CAPITAL GOODS - 3.2% | ||||||||||
| 700,947 | * | Boeing Co | 95,834 | |||||||
| 5,760,444 | Carrier Global Corp | 205,417 | ||||||||
| 711,053 | Deere & Co | 212,939 | ||||||||
| 218,659 | * | Generac Holdings, Inc | 46,045 | |||||||
| 2,123,867 | Raytheon Technologies Corp | 204,125 | ||||||||
| 844,698 | Safran S.A. | 84,103 | ||||||||
| TOTAL CAPITAL GOODS | 848,463 | |||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 1.7% | ||||||||||
| 199,339 | * | Cimpress plc | 7,754 | |||||||
| 2,293,841 | Experian Group Ltd | 67,349 | ||||||||
| 818,688 | Verisk Analytics, Inc | 141,707 | ||||||||
| 1,927,136 | Waste Connections, Inc | 238,888 | ||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 455,698 | |||||||||
| CONSUMER DURABLES & APPAREL - 1.1% | ||||||||||
| 686,407 | e | Essilor International S.A. | 104,068 | |||||||
| 1,235,375 | Nike, Inc (Class B) | 126,255 | ||||||||
| 9,782,100 | Prada S.p.A | 55,012 | ||||||||
| TOTAL CONSUMER DURABLES & APPAREL | 285,335 | |||||||||
| CONSUMER SERVICES - 3.0% | ||||||||||
| 273,302 | * | Booking Holdings, Inc | 478,002 | |||||||
| 479,914 | * | Caesars Entertainment, Inc | 18,381 | |||||||
| 50,569 | *,e | Chipotle Mexican Grill, Inc (Class A) | 66,107 | |||||||
| 6,670,691 | * | Las Vegas Sands Corp | 224,068 | |||||||
| TOTAL CONSUMER SERVICES | 786,558 | |||||||||
| DIVERSIFIED FINANCIALS - 2.1% | ||||||||||
| 168,792 | American Express Co | 23,398 | ||||||||
| 2,471,300 | Charles Schwab Corp | 156,137 | ||||||||
| 8,050,962 | * | Grab Holdings Ltd. | 20,369 | |||||||
| 701,627 | e | iShares Russell 1000 Growth Index Fund | 153,446 | |||||||
| 948,338 | * | Liberty Media Acquisition Corp | 9,407 | |||||||
| 1,191,512 | * | Ribbit LEAP Ltd | 11,867 | |||||||
| 501,798 | S&P Global, Inc | 169,136 | ||||||||
| TOTAL DIVERSIFIED FINANCIALS | 543,760 | |||||||||
| 250 |
COLLEGE RETIREMENT EQUITIES FUND - Growth Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| ENERGY - 2.3% | ||||||||||
| 1,579,848 | ConocoPhillips | $ | 141,886 | |||||||
| 2,781,979 | EOG Resources, Inc | 307,242 | ||||||||
| 381,790 | Pioneer Natural Resources Co | 85,170 | ||||||||
| 558,668 | Valero Energy Corp | 59,375 | ||||||||
| TOTAL ENERGY | 593,673 | |||||||||
| FOOD & STAPLES RETAILING - 2.7% | ||||||||||
| 1,458,863 | Costco Wholesale Corp | 699,204 | ||||||||
| TOTAL FOOD & STAPLES RETAILING | 699,204 | |||||||||
| FOOD, BEVERAGE & TOBACCO - 2.6% | ||||||||||
| 5,133,712 | Davide Campari-Milano NV | 54,159 | ||||||||
| 4,429,475 | * | Monster Beverage Corp | 410,613 | |||||||
| 1,293,257 | PepsiCo, Inc | 215,534 | ||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO | 680,306 | |||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 5.8% | ||||||||||
| 337,626 | * | Align Technology, Inc | 79,906 | |||||||
| 3,462,353 | * | Dexcom, Inc | 258,049 | |||||||
| 1,294,159 | * | Edwards Lifesciences Corp | 123,061 | |||||||
| 504,909 | Elevance Health, Inc | 243,659 | ||||||||
| 110,899 | * | Guardant Health, Inc | 4,474 | |||||||
| 1,230,425 | * | Intuitive Surgical, Inc | 246,959 | |||||||
| 965,884 | UnitedHealth Group, Inc | 496,107 | ||||||||
| 568,951 | * | Veeva Systems, Inc | 112,675 | |||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 1,564,890 | |||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 0.4% | ||||||||||
| 430,361 | Estee Lauder Cos (Class A) | 109,600 | ||||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS | 109,600 | |||||||||
| INSURANCE - 0.5% | ||||||||||
| 2,468,681 | American International Group, Inc | 126,224 | ||||||||
| TOTAL INSURANCE | 126,224 | |||||||||
| MATERIALS - 1.5% | ||||||||||
| 2,288,746 | Corteva, Inc | 123,913 | ||||||||
| 240,480 | Linde plc | 69,145 | ||||||||
| 919,413 | Sherwin-Williams Co | 205,866 | ||||||||
| TOTAL MATERIALS | 398,924 | |||||||||
| MEDIA & ENTERTAINMENT - 10.2% | ||||||||||
| 442,512 | * | Alphabet, Inc (Class A) | 964,349 | |||||||
| 320,526 | * | Alphabet, Inc (Class C) | 701,135 | |||||||
| 641,296 | * | IAC | 48,719 | |||||||
| 2,794,982 | * | Match Group, Inc | 194,782 | |||||||
| 3,068,229 | * | Meta Platforms, Inc | 494,752 | |||||||
| 1,414,768 | *,e | ROBLOX Corp | 46,489 | |||||||
| 1,359,414 | Tencent Holdings Ltd | 61,534 | ||||||||
| 1,462,317 | * | Twitter, Inc | 54,676 | |||||||
| 695,926 | * | Walt Disney Co | 65,695 | |||||||
| 251 |
COLLEGE RETIREMENT EQUITIES FUND - Growth Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 1,634,700 | *,e | ZoomInfo Technologies, Inc | $ | 54,338 | ||||||
| TOTAL MEDIA & ENTERTAINMENT | 2,686,469 | |||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.4% | ||||||||||
| 1,742,629 | AbbVie, Inc | 266,901 | ||||||||
| 3,633,701 | AstraZeneca plc (ADR) | 240,079 | ||||||||
| 9,452,357 | * | Avantor, Inc | 293,968 | |||||||
| 914,518 | Eli Lilly & Co | 296,514 | ||||||||
| 3,257,977 | * | Horizon Therapeutics Plc | 259,856 | |||||||
| 683,265 | * | Illumina, Inc | 125,967 | |||||||
| 214,165 | * | Seagen, Inc | 37,894 | |||||||
| 2,456,448 | Zoetis, Inc | 422,239 | ||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 1,943,418 | |||||||||
| RETAILING - 8.5% | ||||||||||
| 14,004,515 | * | Amazon.com, Inc | 1,487,419 | |||||||
| 953,350 | * | Burlington Stores, Inc | 129,875 | |||||||
| 857,241 | * | CarMax, Inc | 77,563 | |||||||
| 1,698,544 | *,e | Coupang, Inc | 21,656 | |||||||
| 1,748,019 | eBay, Inc | 72,840 | ||||||||
| 108,647 | Kering | 56,304 | ||||||||
| 1,357,598 | Lowe’s Companies, Inc | 237,132 | ||||||||
| 2,881,347 | TJX Companies, Inc | 160,923 | ||||||||
| TOTAL RETAILING | 2,243,712 | |||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 7.3% | ||||||||||
| 2,184,798 | * | Advanced Micro Devices, Inc | 167,071 | |||||||
| 1,999,204 | Applied Materials, Inc | 181,888 | ||||||||
| 1,036,275 | Broadcom, Inc | 503,433 | ||||||||
| 582,941 | Lam Research Corp | 248,420 | ||||||||
| 1,686,110 | Marvell Technology, Inc | 73,396 | ||||||||
| 429,113 | Monolithic Power Systems, Inc | 164,797 | ||||||||
| 3,392,212 | NVIDIA Corp | 514,225 | ||||||||
| 931,078 | Taiwan Semiconductor Manufacturing Co Ltd (ADR) | 76,116 | ||||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 1,929,346 | |||||||||
| SOFTWARE & SERVICES - 28.7% | ||||||||||
| 685,831 | Accenture plc | 190,421 | ||||||||
| 43,316 | *,g | Adyen NV | 62,511 | |||||||
| 361,825 | * | Crowdstrike Holdings, Inc | 60,989 | |||||||
| 930,219 | * | DocuSign, Inc | 53,376 | |||||||
| 460,810 | * | EPAM Systems, Inc | 135,838 | |||||||
| 922,580 | Intuit, Inc | 355,599 | ||||||||
| 2,352,033 | Mastercard, Inc (Class A) | 742,019 | ||||||||
| 11,777,472 | Microsoft Corp | 3,024,808 | ||||||||
| 2,176,370 | Oracle Corp | 152,063 | ||||||||
| 593,731 | * | Palo Alto Networks, Inc | 293,268 | |||||||
| 1,436,163 | * | PayPal Holdings, Inc | 100,302 | |||||||
| 2,705,954 | * | Qualtrics International, Inc | 33,851 | |||||||
| 377,292 | Roper Technologies, Inc | 148,898 | ||||||||
| 3,145,473 | * | salesforce.com, Inc | 519,129 | |||||||
| 920,016 | * | ServiceNow, Inc | 437,486 | |||||||
| 837,412 | * | Synopsys, Inc | 254,322 | |||||||
| 4,095,713 | Visa, Inc (Class A) | 806,405 | ||||||||
| 704,985 | * | Workday, Inc | 98,402 | |||||||
| 252 |
COLLEGE RETIREMENT EQUITIES FUND - Growth Account
| SHARES | COMPANY | VALUE (000) | ||||||||||||||
| 518,026 | * | Zscaler, Inc | $ | 77,450 | ||||||||||||
| TOTAL SOFTWARE & SERVICES | 7,547,137 | |||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 5.7% | ||||||||||||||||
| 10,968,962 | Apple, Inc | 1,499,676 | ||||||||||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT | 1,499,676 | |||||||||||||||
| TRANSPORTATION - 1.8% | ||||||||||||||||
| 5,251,614 | * | Uber Technologies, Inc | 107,448 | |||||||||||||
| 1,706,642 | Union Pacific Corp | 363,993 | ||||||||||||||
| TOTAL TRANSPORTATION | 471,441 | |||||||||||||||
| TOTAL COMMON STOCKS (Cost $29,090,620) |
26,220,232 | |||||||||||||||
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | |||||||||||||
| SHORT-TERM INVESTMENTS - 0.6% | ||||||||||||||||
| GOVERNMENT AGENCY DEBT - 0.1% | ||||||||||||||||
| $ | 10,000,000 | Federal Farm Credit Bank (FFCB) | 0.000 | % | 07/15/22 | 9,994 | ||||||||||
| TOTAL GOVERNMENT AGENCY DEBT | 9,994 | |||||||||||||||
| REPURCHASE AGREEMENT - 0.2% | ||||||||||||||||
| 48,845,000 | r | Fixed Income Clearing Corp (FICC) | 1.450 | 07/01/22 | 48,845 | |||||||||||
| TOTAL REPURCHASE AGREEMENT | 48,845 | |||||||||||||||
| SHARES | COMPANY | |||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.3% | ||||||||||||||||
| 83,078,702 | c | State Street Navigator Securities Lending Government Money Market Portfolio | 1.540 | 83,079 | ||||||||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | 83,079 | |||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $141,919) | 141,918 | |||||||||||||||
| TOTAL INVESTMENTS - 100.2% (Cost $29,232,539) | 26,362,150 | |||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - (0.2)% | (42,026 | ) | ||||||||||||||
| NET ASSETS - 100.0% | $ | 26,320,124 | ||||||||||||||
| 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 $79,609,072. | ||
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/22, the aggregate value of these securities is $62,510,705 or 0.2% of net assets. | ||
| r | Agreement with Fixed Income Clearing Corporation, 1.450% dated 6/30/22 to be repurchased at $48,845,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rate 0.625% and maturity date 1/15/26, valued at $49,821,907. | ||
| Cost amounts are in thousands. | |||
| 253 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
COLLEGE RETIREMENT EQUITIES FUND
EQUITY INDEX ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2022
| SHARES | COMPANY | VALUE (000) | ||||||||
| COMMON STOCKS - 99.4% | ||||||||||
| AUTOMOBILES & COMPONENTS - 2.0% | ||||||||||
| 49,971 | * | Adient plc | $ | 1,481 | ||||||
| 60,325 | * | American Axle & Manufacturing Holdings, Inc | 454 | |||||||
| 137,792 | * | Aptiv plc | 12,273 | |||||||
| 131,607 | BorgWarner, Inc | 4,392 | ||||||||
| 43,545 | *,e | Canoo, Inc | 81 | |||||||
| 94,328 | *,e | Cenntro Electric Group Ltd | 142 | |||||||
| 76,541 | Dana Inc | 1,077 | ||||||||
| 12,642 | * | Dorman Products, Inc | 1,387 | |||||||
| 50,943 | * | Faraday Future Intelligent Electric, Inc | 132 | |||||||
| 86,619 | *,e | Fisker, Inc | 742 | |||||||
| 2,003,548 | Ford Motor Co | 22,300 | ||||||||
| 23,054 | * | Fox Factory Holding Corp | 1,857 | |||||||
| 732,954 | * | General Motors Co | 23,279 | |||||||
| 119,427 | Gentex Corp | 3,340 | ||||||||
| 18,149 | * | Gentherm, Inc | 1,133 | |||||||
| 150,840 | * | Goodyear Tire & Rubber Co | 1,616 | |||||||
| 74,158 | Harley-Davidson, Inc | 2,348 | ||||||||
| 26,356 | *,e | Holley, Inc | 277 | |||||||
| 12,667 | LCI Industries, Inc | 1,417 | ||||||||
| 32,974 | Lear Corp | 4,151 | ||||||||
| 61,192 | *,e | Lordstown Motors Corp | 97 | |||||||
| 274,188 | *,e | Lucid Group, Inc | 4,705 | |||||||
| 122,392 | * | Luminar Technologies, Inc | 726 | |||||||
| 36,302 | * | Modine Manufacturing Co | 382 | |||||||
| 13,147 | * | Motorcar Parts of America, Inc | 172 | |||||||
| 12,396 | Patrick Industries, Inc | 643 | ||||||||
| 111,576 | *,e | QuantumScape Corp | 958 | |||||||
| 91,909 | *,e | Rivian Automotive, Inc | 2,366 | |||||||
| 29,093 | * | Solid Power, Inc | 157 | |||||||
| 11,405 | Standard Motor Products, Inc | 513 | ||||||||
| 20,247 | * | Stoneridge, Inc | 347 | |||||||
| 42,307 | * | Tenneco, Inc | 726 | |||||||
| 437,844 | * | Tesla, Inc | 294,853 | |||||||
| 29,413 | e | Thor Industries, Inc | 2,198 | |||||||
| 12,140 | * | Visteon Corp | 1,257 | |||||||
| 17,654 | e | Winnebago Industries, Inc | 857 | |||||||
| 67,449 | *,e | Workhorse Group, Inc | 175 | |||||||
| 9,934 | * | XPEL, Inc | 456 | |||||||
| TOTAL AUTOMOBILES & COMPONENTS | 395,467 | |||||||||
| BANKS - 4.1% | ||||||||||
| 4,682 | 1st Source Corp | 213 | ||||||||
| 4,331 | ACNB Corp | 129 | ||||||||
| 7,958 | Allegiance Bancshares, Inc | 300 | ||||||||
| 7,212 | Amalgamated Financial Corp | 143 | ||||||||
| 12,491 | Amerant Bancorp Inc | 351 | ||||||||
| 254 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 5,882 | American National Bankshares, Inc | $ | 204 | |||||||
| 38,500 | Ameris Bancorp | 1,547 | ||||||||
| 8,940 | Arrow Financial Corp | 284 | ||||||||
| 85,309 | Associated Banc-Corp | 1,558 | ||||||||
| 42,326 | Atlantic Union Bankshares Corp | 1,436 | ||||||||
| 31,941 | * | Axos Financial, Inc | 1,145 | |||||||
| 31,112 | Banc of California, Inc | 548 | ||||||||
| 10,077 | Bancfirst Corp | 964 | ||||||||
| 3,732 | e | Bank First Corp | 283 | |||||||
| 3,626,639 | Bank of America Corp | 112,897 | ||||||||
| 23,380 | Bank of Hawaii Corp | 1,739 | ||||||||
| 7,728 | Bank of Marin Bancorp | 246 | ||||||||
| 25,484 | Bank of NT Butterfield & Son Ltd | 795 | ||||||||
| 58,249 | Bank OZK | 2,186 | ||||||||
| 50,841 | BankUnited | 1,808 | ||||||||
| 18,925 | Banner Corp | 1,064 | ||||||||
| 11,016 | Bar Harbor Bankshares | 285 | ||||||||
| 6,589 | Baycom Corp | 136 | ||||||||
| 7,362 | BCB Bancorp, Inc | 125 | ||||||||
| 26,834 | Berkshire Hills Bancorp, Inc | 665 | ||||||||
| 13,432 | * | Blue Foundry Bancorp | 161 | |||||||
| 8,721 | Blue Ridge Bankshares, Inc | 134 | ||||||||
| 15,941 | BOK Financial Corp | 1,205 | ||||||||
| 10,571 | * | Bridgewater Bancshares, Inc | 171 | |||||||
| 28,234 | Brookline Bancorp, Inc | 376 | ||||||||
| 6,436 | Business First Bancshares, Inc | 137 | ||||||||
| 5,576 | Byline Bancorp, Inc | 133 | ||||||||
| 107,871 | Cadence BanCorp | 2,533 | ||||||||
| 2,502 | Cambridge Bancorp | 207 | ||||||||
| 3,639 | Camden National Corp | 160 | ||||||||
| 4,609 | Capital Bancorp, Inc | 100 | ||||||||
| 9,158 | Capital City Bank Group, Inc | 255 | ||||||||
| 33,828 | Capitol Federal Financial | 311 | ||||||||
| 5,956 | Capstar Financial Holdings, Inc | 117 | ||||||||
| 14,623 | * | Carter Bankshares, Inc | 193 | |||||||
| 40,414 | Cathay General Bancorp | 1,582 | ||||||||
| 12,633 | CBTX, Inc | 336 | ||||||||
| 21,511 | Central Pacific Financial Corp | 461 | ||||||||
| 1,017,976 | Citigroup, Inc | 46,817 | ||||||||
| 9,568 | Citizens & Northern Corp | 231 | ||||||||
| 251,872 | Citizens Financial Group, Inc | 8,989 | ||||||||
| 4,775 | City Holding Co | 381 | ||||||||
| 7,262 | Civista Bancshares, Inc | 154 | ||||||||
| 9,772 | CNB Financial Corp | 236 | ||||||||
| 5,328 | * | Coastal Financial Corp | 203 | |||||||
| 8,393 | Colony Bankcorp Inc | 127 | ||||||||
| 39,274 | Columbia Banking System, Inc | 1,125 | ||||||||
| 17,061 | * | Columbia Financial, Inc | 372 | |||||||
| 69,667 | Comerica, Inc | 5,112 | ||||||||
| 53,144 | Commerce Bancshares, Inc | 3,489 | ||||||||
| 29,222 | Community Bank System, Inc | 1,849 | ||||||||
| 1,585 | Community Trust Bancorp, Inc | 64 | ||||||||
| 21,722 | ConnectOne Bancorp, Inc | 531 | ||||||||
| 2,974 | * | CrossFirst Bankshares, Inc | 39 | |||||||
| 255 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 31,366 | Cullen/Frost Bankers, Inc | $ | 3,653 | |||||||
| 19,196 | * | Customers Bancorp, Inc | 651 | |||||||
| 69,300 | CVB Financial Corp | 1,719 | ||||||||
| 19,153 | Dime Community Bancshares, Inc | 568 | ||||||||
| 17,266 | Eagle Bancorp, Inc | 819 | ||||||||
| 71,752 | East West Bancorp, Inc | 4,650 | ||||||||
| 94,260 | Eastern Bankshares, Inc | 1,740 | ||||||||
| 15,393 | e | Enact Holdings, Inc | 331 | |||||||
| 6,481 | Enterprise Bancorp, Inc | 209 | ||||||||
| 16,077 | Enterprise Financial Services Corp | 667 | ||||||||
| 7,477 | Equity Bancshares, Inc | 218 | ||||||||
| 3,546 | Esquire Financial Holdings, Inc | 118 | ||||||||
| 53,471 | Essent Group Ltd | 2,080 | ||||||||
| 6,206 | * | Farmers & Merchants Bancorp, Inc | 206 | |||||||
| 18,150 | Farmers National Banc Corp | 272 | ||||||||
| 13,107 | FB Financial Corp | 514 | ||||||||
| 1,343 | Federal Agricultural Mortgage Corp (FAMC) | 131 | ||||||||
| 351,476 | Fifth Third Bancorp | 11,810 | ||||||||
| 10,211 | Financial Institutions, Inc | 266 | ||||||||
| 15,371 | First Bancorp | 536 | ||||||||
| 114,850 | First Bancorp | 1,483 | ||||||||
| 6,485 | First Bancorp, Inc | 195 | ||||||||
| 6,018 | First Bancshares, Inc | 172 | ||||||||
| 7,950 | First Bank | 111 | ||||||||
| 26,747 | First Busey Corp | 611 | ||||||||
| 4,107 | First Business Financial Services, Inc | 128 | ||||||||
| 6,675 | First Citizens Bancshares, Inc (Class A) | 4,364 | ||||||||
| 52,091 | First Commonwealth Financial Corp | 699 | ||||||||
| 12,139 | First Community Bancshares, Inc | 357 | ||||||||
| 47,775 | First Financial Bancorp | 927 | ||||||||
| 70,877 | First Financial Bankshares, Inc | 2,783 | ||||||||
| 505 | First Financial Corp | 22 | ||||||||
| 19,660 | First Foundation, Inc | 403 | ||||||||
| 71,845 | First Hawaiian, Inc | 1,632 | ||||||||
| 277,809 | First Horizon National Corp | 6,073 | ||||||||
| 4,089 | First Internet Bancorp | 151 | ||||||||
| 43,798 | First Interstate Bancsystem, Inc | 1,669 | ||||||||
| 29,933 | First Merchants Corp | 1,066 | ||||||||
| 7,120 | First Mid-Illinois Bancshares, Inc | 254 | ||||||||
| 15,462 | First of Long Island Corp | 271 | ||||||||
| 92,712 | First Republic Bank | 13,369 | ||||||||
| 4,047 | * | First Western Financial, Inc | 110 | |||||||
| 6,452 | Five Star Bancorp | 170 | ||||||||
| 17,270 | Flagstar Bancorp, Inc | 612 | ||||||||
| 4,145 | Flushing Financial Corp | 88 | ||||||||
| 191,966 | FNB Corp | 2,085 | ||||||||
| 80,429 | Fulton Financial Corp | 1,162 | ||||||||
| 6,122 | * | FVCBankcorp, Inc | 115 | |||||||
| 5,087 | German American Bancorp, Inc | 174 | ||||||||
| 63,141 | Glacier Bancorp, Inc | 2,994 | ||||||||
| 1,871 | Great Southern Bancorp, Inc | 110 | ||||||||
| 1,346 | Guaranty Bancshares, Inc | 49 | ||||||||
| 47,878 | Hancock Whitney Corp | 2,122 | ||||||||
| 23,963 | Hanmi Financial Corp | 538 | ||||||||
| 256 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 16,668 | HarborOne Northeast Bancorp, Inc | $ | 230 | |||||||
| 13,408 | Heartland Financial USA, Inc | 557 | ||||||||
| 25,661 | Heritage Commerce Corp | 274 | ||||||||
| 22,188 | Heritage Financial Corp | 558 | ||||||||
| 35,248 | e | Hilltop Holdings, Inc | 940 | |||||||
| 997 | Hingham Institution for Savings | 283 | ||||||||
| 4,264 | Home Bancorp, Inc | 146 | ||||||||
| 81,882 | Home Bancshares, Inc | 1,701 | ||||||||
| 15,022 | HomeStreet, Inc | 521 | ||||||||
| 13,541 | HomeTrust Bancshares, Inc | 339 | ||||||||
| 59,403 | Hope Bancorp, Inc | 822 | ||||||||
| 2,709 | Horizon Bancorp | 47 | ||||||||
| 768,669 | Huntington Bancshares, Inc | 9,247 | ||||||||
| 25,003 | Independent Bank Corp | 1,986 | ||||||||
| 17,558 | Independent Bank Corp | 338 | ||||||||
| 20,253 | Independent Bank Group, Inc | 1,375 | ||||||||
| 29,344 | International Bancshares Corp | 1,176 | ||||||||
| 5,837 | e | John Marshall Bancorp, Inc | 132 | |||||||
| 1,506,142 | JPMorgan Chase & Co | 169,607 | ||||||||
| 8,268 | Kearny Financial Corp | 92 | ||||||||
| 490,546 | Keycorp | 8,452 | ||||||||
| 9,106 | Lakeland Bancorp, Inc | 133 | ||||||||
| 13,317 | Lakeland Financial Corp | 884 | ||||||||
| 14,926 | Live Oak Bancshares, Inc | 506 | ||||||||
| 94,000 | M&T Bank Corp | 14,983 | ||||||||
| 19,210 | Macatawa Bank Corp | 170 | ||||||||
| 1,529 | Mercantile Bank Corp | 49 | ||||||||
| 8,062 | Merchants Bancorp | 183 | ||||||||
| 20,574 | Meta Financial Group, Inc | 796 | ||||||||
| 10,190 | Metrocity Bankshares, Inc | 207 | ||||||||
| 4,420 | * | Metropolitan Bank Holding Corp | 307 | |||||||
| 136,986 | MGIC Investment Corp | 1,726 | ||||||||
| 7,348 | Mid Penn Bancorp, Inc | 198 | ||||||||
| 10,800 | Midland States Bancorp, Inc | 260 | ||||||||
| 7,821 | MidWestOne Financial Group, Inc | 232 | ||||||||
| 37,224 | * | Mr Cooper Group, Inc | 1,368 | |||||||
| 5,369 | MVB Financial Corp | 167 | ||||||||
| 19,324 | National Bank Holdings Corp | 740 | ||||||||
| 21,431 | NBT Bancorp, Inc | 806 | ||||||||
| 237,579 | e | New York Community Bancorp, Inc | 2,169 | |||||||
| 6,480 | * | Nicolet Bankshares, Inc | 469 | |||||||
| 38,864 | * | NMI Holdings, Inc | 647 | |||||||
| 3,442 | Northeast Bank | 126 | ||||||||
| 5,388 | Northfield Bancorp, Inc | 70 | ||||||||
| 62,279 | Northwest Bancshares, Inc | 797 | ||||||||
| 12,012 | OceanFirst Financial Corp | 230 | ||||||||
| 33,903 | OFG Bancorp | 861 | ||||||||
| 133,138 | Old National Bancorp | 1,969 | ||||||||
| 21,667 | Old Second Bancorp, Inc | 290 | ||||||||
| 11,057 | Origin Bancorp, Inc | 429 | ||||||||
| 5,318 | Orrstown Financial Services, Inc | 129 | ||||||||
| 51,153 | Pacific Premier Bancorp, Inc | 1,496 | ||||||||
| 55,834 | PacWest Bancorp | 1,489 | ||||||||
| 7,855 | Park National Corp | 952 | ||||||||
| 257 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 5,178 | * | Parke Bancorp, Inc | $ | 109 | ||||||
| 5,966 | PCB Bancorp | 111 | ||||||||
| 13,465 | PCSB Financial Corp | 257 | ||||||||
| 267 | Peapack Gladstone Financial Corp | 8 | ||||||||
| 9,684 | PennyMac Financial Services, Inc | 423 | ||||||||
| 4,697 | Peoples Bancorp, Inc | 125 | ||||||||
| 5,712 | Peoples Financial Services Corp | 319 | ||||||||
| 41,191 | Pinnacle Financial Partners, Inc | 2,978 | ||||||||
| 213,142 | PNC Financial Services Group, Inc | 33,627 | ||||||||
| 38,321 | Popular, Inc | 2,948 | ||||||||
| 8,859 | Preferred Bank | 603 | ||||||||
| 20,188 | Premier Financial Corp | 512 | ||||||||
| 8,140 | Primis Financial Corp | 111 | ||||||||
| 6,623 | * | Professional Holding Corp | 133 | |||||||
| 41,648 | Prosperity Bancshares, Inc | 2,843 | ||||||||
| 6,589 | Provident Bancorp Inc | 103 | ||||||||
| 38,294 | Provident Financial Services, Inc | 852 | ||||||||
| 8,729 | QCR Holdings, Inc | 471 | ||||||||
| 73,149 | Radian Group, Inc | 1,437 | ||||||||
| 9,265 | RBB Bancorp | 191 | ||||||||
| 2,235 | Red River Bancshares Inc | 121 | ||||||||
| 482,164 | Regions Financial Corp | 9,041 | ||||||||
| 30,881 | Renasant Corp | 890 | ||||||||
| 6,104 | Republic Bancorp, Inc (Class A) | 294 | ||||||||
| 34,776 | *,e | Republic First Bancorp, Inc | 132 | |||||||
| 74,318 | e | Rocket Cos, Inc | 547 | |||||||
| 13,081 | S&T Bancorp, Inc | 359 | ||||||||
| 22,606 | Sandy Spring Bancorp, Inc | 883 | ||||||||
| 28,631 | Seacoast Banking Corp of Florida | 946 | ||||||||
| 24,631 | ServisFirst Bancshares, Inc | 1,944 | ||||||||
| 9,123 | e | Shore Bancshares, Inc | 169 | |||||||
| 8,919 | Sierra Bancorp | 194 | ||||||||
| 32,409 | Signature Bank | 5,808 | ||||||||
| 12,494 | * | Silvergate Capital Corp | 669 | |||||||
| 55,218 | Simmons First National Corp (Class A) | 1,174 | ||||||||
| 5,382 | SmartFinancial, Inc | 130 | ||||||||
| 5,202 | South Plains Financial Inc | 126 | ||||||||
| 38,442 | South State Corp | 2,966 | ||||||||
| 4,079 | * | Southern First Bancshares, Inc | 178 | |||||||
| 4,139 | Southern Missouri Bancorp, Inc | 187 | ||||||||
| 10,544 | Southside Bancshares, Inc | 395 | ||||||||
| 11,262 | Stock Yards Bancorp, Inc | 674 | ||||||||
| 6,101 | Summit Financial Group, Inc | 169 | ||||||||
| 30,276 | * | SVB Financial Group | 11,959 | |||||||
| 74,250 | Synovus Financial Corp | 2,677 | ||||||||
| 27,678 | * | Texas Capital Bancshares, Inc | 1,457 | |||||||
| 34,383 | TFS Financial Corp | 472 | ||||||||
| 35,393 | * | The Bancorp, Inc | 691 | |||||||
| 6,549 | * | Third Coast Bancshares, Inc | 143 | |||||||
| 7,201 | Tompkins Financial Corp | 519 | ||||||||
| 34,516 | Towne Bank | 937 | ||||||||
| 19,212 | Trico Bancshares | 877 | ||||||||
| 10,668 | * | Triumph Bancorp, Inc | 667 | |||||||
| 686,348 | Truist Financial Corp | 32,553 | ||||||||
| 258 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 2,656 | TrustCo Bank Corp NY | $ | 82 | |||||||
| 34,442 | Trustmark Corp | 1,005 | ||||||||
| 23,900 | UMB Financial Corp | 2,058 | ||||||||
| 117,477 | Umpqua Holdings Corp | 1,970 | ||||||||
| 68,198 | United Bankshares, Inc | 2,392 | ||||||||
| 48,352 | United Community Banks, Inc | 1,460 | ||||||||
| 5,426 | Univest Financial Corp | 138 | ||||||||
| 692,843 | US Bancorp | 31,885 | ||||||||
| 23,393 | e | UWM Holdings Corp | 83 | |||||||
| 218,557 | Valley National Bancorp | 2,275 | ||||||||
| 22,054 | Veritex Holdings, Inc | 645 | ||||||||
| 12,277 | Walker & Dunlop, Inc | 1,183 | ||||||||
| 25,531 | Washington Federal, Inc | 766 | ||||||||
| 3,676 | Washington Trust Bancorp, Inc | 178 | ||||||||
| 19,189 | Waterstone Financial, Inc | 327 | ||||||||
| 99,733 | Webster Financial Corp | 4,204 | ||||||||
| 1,958,307 | Wells Fargo & Co | 76,707 | ||||||||
| 21,097 | WesBanco, Inc | 669 | ||||||||
| 11,970 | West Bancorporation, Inc | 291 | ||||||||
| 13,352 | Westamerica Bancorporation | 743 | ||||||||
| 50,142 | Western Alliance Bancorp | 3,540 | ||||||||
| 31,127 | Wintrust Financial Corp | 2,495 | ||||||||
| 37,346 | WSFS Financial Corp | 1,497 | ||||||||
| 81,460 | Zions Bancorporation | 4,146 | ||||||||
| TOTAL BANKS | 792,078 | |||||||||
| CAPITAL GOODS - 5.8% | ||||||||||
| 293,036 | 3M Co | 37,922 | ||||||||
| 66,416 | A.O. Smith Corp | 3,632 | ||||||||
| 21,498 | Aaon, Inc | 1,177 | ||||||||
| 23,226 | * | AAR Corp | 972 | |||||||
| 16,749 | Acuity Brands, Inc | 2,580 | ||||||||
| 31,531 | Advanced Drainage Systems, Inc | 2,840 | ||||||||
| 69,560 | Aecom Technology Corp | 4,537 | ||||||||
| 39,078 | * | Aerojet Rocketdyne Holdings, Inc | 1,587 | |||||||
| 12,268 | * | Aerovironment, Inc | 1,008 | |||||||
| 8,143 | * | AerSale Corp | 118 | |||||||
| 34,274 | AGCO Corp | 3,383 | ||||||||
| 56,080 | Air Lease Corp | 1,875 | ||||||||
| 5,157 | Alamo Group, Inc | 600 | ||||||||
| 16,794 | Albany International Corp (Class A) | 1,323 | ||||||||
| 44,803 | Allegion plc | 4,386 | ||||||||
| 6,739 | Allied Motion Technologies, Inc | 154 | ||||||||
| 34,500 | Allison Transmission Holdings, Inc | 1,327 | ||||||||
| 10,745 | * | Alta Equipment Group, Inc | 96 | |||||||
| 35,359 | Altra Industrial Motion Corp | 1,246 | ||||||||
| 13,776 | * | Ameresco, Inc | 628 | |||||||
| 10,171 | * | American Woodmark Corp | 458 | |||||||
| 118,210 | Ametek, Inc | 12,990 | ||||||||
| 98,441 | * | API Group Corp | 1,474 | |||||||
| 13,802 | Apogee Enterprises, Inc | 541 | ||||||||
| 21,181 | Applied Industrial Technologies, Inc | 2,037 | ||||||||
| 63,826 | *,e | Archer Aviation, Inc | 197 | |||||||
| 26,444 | Arcosa, Inc | 1,228 | ||||||||
| 259 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 10,471 | e | Argan, Inc | $ | 391 | ||||||
| 24,025 | Armstrong World Industries, Inc | 1,801 | ||||||||
| 69,116 | * | Array Technologies, Inc | 761 | |||||||
| 15,250 | Astec Industries, Inc | 622 | ||||||||
| 73,791 | *,e | Astra Space, Inc | 96 | |||||||
| 15,755 | * | Astronics Corp | 160 | |||||||
| 23,836 | * | Atkore International Group, Inc | 1,979 | |||||||
| 35,579 | * | Axon Enterprise, Inc | 3,315 | |||||||
| 60,195 | * | AZEK Co, Inc | 1,008 | |||||||
| 13,571 | AZZ, Inc | 554 | ||||||||
| 30,289 | * | Babcock & Wilcox Enterprises, Inc | 183 | |||||||
| 25,595 | Barnes Group, Inc | 797 | ||||||||
| 22,560 | * | Beacon Roofing Supply, Inc | 1,159 | |||||||
| 19,926 | *,e | Blink Charging Co | 329 | |||||||
| 75,992 | *,e | Bloom Energy Corp | 1,254 | |||||||
| 3,946 | * | Blue Bird Corp | 36 | |||||||
| 4,896 | * | BlueLinx Holdings, Inc | 327 | |||||||
| 282,950 | * | Boeing Co | 38,685 | |||||||
| 21,496 | Boise Cascade Co | 1,279 | ||||||||
| 13,313 | e | Brookfield Business Corp | 306 | |||||||
| 84,139 | * | Builders FirstSource, Inc | 4,518 | |||||||
| 40,627 | BWX Technologies, Inc | 2,238 | ||||||||
| 8,469 | Cadre Holdings, Inc | 167 | ||||||||
| 14,163 | e | Caesarstone Sdot-Yam Ltd | 129 | |||||||
| 25,553 | Carlisle Cos, Inc | 6,097 | ||||||||
| 443,197 | Carrier Global Corp | 15,804 | ||||||||
| 275,395 | Caterpillar, Inc | 49,230 | ||||||||
| 120,169 | *,e | ChargePoint Holdings, Inc | 1,645 | |||||||
| 17,096 | * | Chart Industries, Inc | 2,862 | |||||||
| 12,045 | * | CIRCOR International, Inc | 197 | |||||||
| 14,727 | Columbus McKinnon Corp | 418 | ||||||||
| 19,457 | Comfort Systems USA, Inc | 1,618 | ||||||||
| 11,212 | * | Construction Partners Inc | 235 | |||||||
| 18,969 | * | Core & Main, Inc | 423 | |||||||
| 29,151 | * | Cornerstone Building Brands, Inc | 714 | |||||||
| 27,810 | Crane Holdings Co | 2,435 | ||||||||
| 7,468 | CSW Industrials, Inc | 769 | ||||||||
| 72,106 | Cummins, Inc | 13,955 | ||||||||
| 22,308 | Curtiss-Wright Corp | 2,946 | ||||||||
| 30,728 | *,e | Custom Truck One Source, Inc | 172 | |||||||
| 44,985 | *,e | Decarbonization Plus Acquisition Corp | 132 | |||||||
| 144,827 | Deere & Co | 43,371 | ||||||||
| 62,846 | *,e | Desktop Metal, Inc | 138 | |||||||
| 63,656 | Donaldson Co, Inc | 3,064 | ||||||||
| 16,771 | Douglas Dynamics, Inc | 482 | ||||||||
| 73,026 | Dover Corp | 8,860 | ||||||||
| 8,048 | * | Ducommun, Inc | 346 | |||||||
| 11,117 | * | DXP Enterprises, Inc | 340 | |||||||
| 16,954 | * | Dycom Industries, Inc | 1,577 | |||||||
| 207,720 | Eaton Corp | 26,171 | ||||||||
| 28,208 | EMCOR Group, Inc | 2,904 | ||||||||
| 304,834 | Emerson Electric Co | 24,246 | ||||||||
| 10,981 | Encore Wire Corp | 1,141 | ||||||||
| 24,905 | * | Energy Recovery, Inc | 484 | |||||||
| 260 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 12,892 | *,e | Energy Vault Holdings, Inc | $ | 129 | ||||||
| 32,971 | Enerpac Tool Group Corp | 627 | ||||||||
| 25,301 | EnerSys | 1,492 | ||||||||
| 55,762 | *,e | Enovix Corp | 497 | |||||||
| 11,263 | EnPro Industries, Inc | 923 | ||||||||
| 21,428 | e | Esab Corp | 937 | |||||||
| 13,003 | ESCO Technologies, Inc | 889 | ||||||||
| 41,349 | * | ESS Tech, Inc | 116 | |||||||
| 63,155 | * | Evoqua Water Technologies Corp | 2,053 | |||||||
| 297,190 | Fastenal Co | 14,836 | ||||||||
| 32,884 | Federal Signal Corp | 1,171 | ||||||||
| 71,435 | Flowserve Corp | 2,045 | ||||||||
| 18,242 | *,e | Fluence Energy, Inc | 173 | |||||||
| 77,505 | * | Fluor Corp | 1,886 | |||||||
| 185,058 | Fortive Corp | 10,063 | ||||||||
| 67,350 | Fortune Brands Home & Security, Inc | 4,033 | ||||||||
| 20,104 | Franklin Electric Co, Inc | 1,473 | ||||||||
| 21,243 | *,e | FTC Solar, Inc | 77 | |||||||
| 176,294 | *,e | FuelCell Energy, Inc | 661 | |||||||
| 30,738 | * | Gates Industrial Corp plc | 332 | |||||||
| 18,204 | GATX Corp | 1,714 | ||||||||
| 31,919 | * | Generac Holdings, Inc | 6,721 | |||||||
| 127,173 | General Dynamics Corp | 28,137 | ||||||||
| 568,236 | General Electric Co | 36,180 | ||||||||
| 17,907 | * | Gibraltar Industries, Inc | 694 | |||||||
| 9,938 | Global Industrial Co | 336 | ||||||||
| 23,326 | * | GMS, Inc | 1,038 | |||||||
| 12,385 | e | Gorman-Rupp Co | 350 | |||||||
| 85,810 | Graco, Inc | 5,098 | ||||||||
| 95,580 | GrafTech International Ltd | 676 | ||||||||
| 24,972 | Granite Construction, Inc | 728 | ||||||||
| 44,924 | * | Great Lakes Dredge & Dock Corp | 589 | |||||||
| 19,838 | Greenbrier Cos, Inc | 714 | ||||||||
| 20,793 | Griffon Corp | 583 | ||||||||
| 17,554 | H&E Equipment Services, Inc | 509 | ||||||||
| 21,061 | *,e | Hayward Holdings, Inc | 303 | |||||||
| 21,280 | HEICO Corp | 2,790 | ||||||||
| 38,786 | HEICO Corp (Class A) | 4,087 | ||||||||
| 16,194 | Helios Technologies, Inc | 1,073 | ||||||||
| 13,619 | Herc Holdings, Inc | 1,228 | ||||||||
| 48,986 | Hexcel Corp | 2,562 | ||||||||
| 32,149 | Hillenbrand, Inc | 1,317 | ||||||||
| 69,001 | * | Hillman Solutions Corp | 596 | |||||||
| 348,234 | Honeywell International, Inc | 60,527 | ||||||||
| 195,610 | Howmet Aerospace, Inc | 6,152 | ||||||||
| 27,556 | Hubbell, Inc | 4,921 | ||||||||
| 22,109 | * | Hudson Technologies, Inc | 166 | |||||||
| 20,298 | Huntington Ingalls | 4,421 | ||||||||
| 20,974 | *,e | Hydrofarm Holdings Group, Inc | 73 | |||||||
| 63,978 | *,e | Hyliion Holdings Corp | 206 | |||||||
| 7,224 | Hyster-Yale Materials Handling, Inc | 233 | ||||||||
| 37,542 | IDEX Corp | 6,819 | ||||||||
| 5,334 | * | IES Holdings, Inc | 161 | |||||||
| 159,965 | Illinois Tool Works, Inc | 29,154 | ||||||||
| 261 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 15,590 | *,e | Infrastructure and Energy Alternatives, Inc | $ | 125 | ||||||
| 210,036 | Ingersoll Rand, Inc | 8,838 | ||||||||
| 3,056 | Insteel Industries, Inc | 103 | ||||||||
| 46,862 | ITT, Inc | 3,151 | ||||||||
| 41,873 | * | Janus International Group, Inc | 378 | |||||||
| 45,832 | * | JELD-WEN Holding, Inc | 669 | |||||||
| 16,888 | John Bean Technologies Corp | 1,865 | ||||||||
| 358,998 | Johnson Controls International plc | 17,189 | ||||||||
| 5,348 | Kadant, Inc | 975 | ||||||||
| 15,070 | Kaman Corp | 471 | ||||||||
| 45,625 | Kennametal, Inc | 1,060 | ||||||||
| 66,946 | * | Kratos Defense & Security Solutions, Inc | 929 | |||||||
| 99,323 | L3Harris Technologies, Inc | 24,006 | ||||||||
| 4,456 | * | Lawson Products, Inc | 229 | |||||||
| 16,699 | Lennox International, Inc | 3,450 | ||||||||
| 28,514 | Lincoln Electric Holdings, Inc | 3,517 | ||||||||
| 5,950 | Lindsay Corp | 790 | ||||||||
| 122,557 | Lockheed Martin Corp | 52,695 | ||||||||
| 17,575 | Luxfer Holdings plc | 266 | ||||||||
| 22,630 | * | Manitowoc Co, Inc | 238 | |||||||
| 56,422 | * | Markforged Holding Corp | 104 | |||||||
| 118,584 | Masco Corp | 6,000 | ||||||||
| 13,395 | * | Masonite International Corp | 1,029 | |||||||
| 31,664 | * | Mastec, Inc | 2,269 | |||||||
| 38,365 | Maxar Technologies, Inc | 1,001 | ||||||||
| 8,494 | McGrath RentCorp | 646 | ||||||||
| 96,446 | MDU Resources Group, Inc | 2,603 | ||||||||
| 30,340 | * | Mercury Systems, Inc | 1,952 | |||||||
| 34,734 | * | Meritor, Inc | 1,262 | |||||||
| 87,434 | * | Microvast Holdings, Inc | 194 | |||||||
| 27,681 | * | Middleby Corp | 3,470 | |||||||
| 7,280 | Miller Industries, Inc | 165 | ||||||||
| 14,677 | Moog, Inc (Class A) | 1,165 | ||||||||
| 43,932 | * | MRC Global, Inc | 438 | |||||||
| 19,273 | MSC Industrial Direct Co (Class A) | 1,448 | ||||||||
| 28,683 | Mueller Industries, Inc | 1,529 | ||||||||
| 85,916 | Mueller Water Products, Inc (Class A) | 1,008 | ||||||||
| 10,993 | * | MYR Group, Inc | 969 | |||||||
| 3,534 | National Presto Industries, Inc | 232 | ||||||||
| 109,431 | *,e | Nikola Corp | 521 | |||||||
| 28,439 | Nordson Corp | 5,757 | ||||||||
| 75,585 | Northrop Grumman Corp | 36,173 | ||||||||
| 6,891 | * | Northwest Pipe Co | 206 | |||||||
| 78,206 | * | NOW, Inc | 765 | |||||||
| 5,211 | * | NV5 Global Inc | 608 | |||||||
| 87,536 | nVent Electric plc | 2,742 | ||||||||
| 2,354 | e | Omega Flex, Inc | 253 | |||||||
| 33,865 | Oshkosh Corp | 2,782 | ||||||||
| 217,734 | Otis Worldwide Corp | 15,387 | ||||||||
| 47,520 | Owens Corning, Inc | 3,531 | ||||||||
| 172,642 | PACCAR, Inc | 14,215 | ||||||||
| 14,228 | Park Aerospace Corp | 182 | ||||||||
| 64,796 | Parker-Hannifin Corp | 15,943 | ||||||||
| 12,058 | * | Parsons Corp | 487 | |||||||
| 262 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 88,369 | Pentair plc | $ | 4,045 | |||||||
| 36,380 | * | PGT Innovations, Inc | 605 | |||||||
| 274,975 | *,e | Plug Power, Inc | 4,556 | |||||||
| 7,077 | Powell Industries, Inc | 165 | ||||||||
| 1,801 | Preformed Line Products Co | 111 | ||||||||
| 28,783 | Primoris Services Corp | 626 | ||||||||
| 113,352 | *,e | Proterra, Inc | 526 | |||||||
| 15,505 | * | Proto Labs, Inc | 742 | |||||||
| 16,969 | Quanex Building Products Corp | 386 | ||||||||
| 75,730 | Quanta Services, Inc | 9,492 | ||||||||
| 767,844 | Raytheon Technologies Corp | 73,797 | ||||||||
| 13,498 | * | RBC Bearings, Inc | 2,496 | |||||||
| 36,333 | Regal-Beloit Corp | 4,125 | ||||||||
| 82,950 | * | Resideo Technologies, Inc | 1,611 | |||||||
| 8,757 | REV Group, Inc | 95 | ||||||||
| 109,316 | *,e | Rocket Lab USA, Inc | 414 | |||||||
| 61,336 | Rockwell Automation, Inc | 12,225 | ||||||||
| 15,224 | Rush Enterprises, Inc (Class A) | 734 | ||||||||
| 6,895 | Rush Enterprises, Inc (Class B) | 342 | ||||||||
| 38,910 | * | Sarcos Technology and Robotics Corp | 103 | |||||||
| 80,042 | Sensata Technologies Holding plc | 3,307 | ||||||||
| 50,036 | * | Shoals Technologies Group, Inc | 825 | |||||||
| 18,886 | Shyft Group, Inc | 351 | ||||||||
| 19,894 | Simpson Manufacturing Co, Inc | 2,002 | ||||||||
| 24,415 | * | SiteOne Landscape Supply, Inc | 2,902 | |||||||
| 26,902 | Snap-On, Inc | 5,300 | ||||||||
| 59,911 | Spirit Aerosystems Holdings, Inc (Class A) | 1,755 | ||||||||
| 23,935 | * | SPX Corp | 1,265 | |||||||
| 4,143 | Standex International Corp | 351 | ||||||||
| 77,790 | Stanley Black & Decker, Inc | 8,157 | ||||||||
| 34,176 | *,e | Stem, Inc | 245 | |||||||
| 18,886 | * | Sterling Construction Co, Inc | 414 | |||||||
| 109,516 | * | Sunrun, Inc | 2,558 | |||||||
| 10,075 | Tennant Co | 597 | ||||||||
| 35,787 | Terex Corp | 979 | ||||||||
| 13,596 | Textainer Group Holdings Ltd | 373 | ||||||||
| 109,676 | Textron, Inc | 6,698 | ||||||||
| 24,419 | * | Thermon Group Holdings | 343 | |||||||
| 35,263 | Timken Co | 1,871 | ||||||||
| 27,553 | * | Titan International, Inc | 416 | |||||||
| 11,613 | * | Titan Machinery, Inc | 260 | |||||||
| 54,608 | Toro Co | 4,139 | ||||||||
| 19,490 | * | TPI Composites, Inc | 244 | |||||||
| 118,596 | Trane Technologies plc | 15,402 | ||||||||
| 3,856 | * | Transcat Inc | 219 | |||||||
| 27,473 | * | TransDigm Group, Inc | 14,744 | |||||||
| 63,333 | * | Trex Co, Inc | 3,447 | |||||||
| 42,805 | Trinity Industries, Inc | 1,037 | ||||||||
| 28,650 | Triton International Ltd | 1,508 | ||||||||
| 32,779 | * | Triumph Group, Inc | 436 | |||||||
| 27,269 | * | Tutor Perini Corp | 239 | |||||||
| 26,618 | UFP Industries, Inc | 1,814 | ||||||||
| 36,814 | * | United Rentals, Inc | 8,942 | |||||||
| 78,474 | * | Univar Solutions Inc | 1,952 | |||||||
| 263 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 10,628 | Valmont Industries, Inc | $ | 2,387 | |||||||
| 7,860 | * | Vectrus, Inc | 263 | |||||||
| 7,828 | * | Veritiv Corp | 850 | |||||||
| 154,466 | Vertiv Holdings Co | 1,270 | ||||||||
| 12,845 | * | Vicor Corp | 703 | |||||||
| 57,371 | *,e | View, Inc | 93 | |||||||
| 96,965 | *,e | Virgin Galactic Holdings, Inc | 584 | |||||||
| 22,232 | W.W. Grainger, Inc | 10,103 | ||||||||
| 28,077 | Wabash National Corp | 381 | ||||||||
| 17,942 | Watsco, Inc | 4,285 | ||||||||
| 12,667 | Watts Water Technologies, Inc (Class A) | 1,556 | ||||||||
| 42,720 | * | Welbilt, Inc | 1,017 | |||||||
| 24,302 | * | WESCO International, Inc | 2,603 | |||||||
| 90,345 | Westinghouse Air Brake Technologies Corp | 7,416 | ||||||||
| 111,743 | * | WillScot Mobile Mini Holdings Corp | 3,623 | |||||||
| 30,482 | Woodward Inc | 2,819 | ||||||||
| 95,020 | Xylem, Inc | 7,429 | ||||||||
| 65,462 | Zurn Water Solutions Corp | 1,783 | ||||||||
| TOTAL CAPITAL GOODS | 1,129,888 | |||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 1.2% | ||||||||||
| 40,285 | ABM Industries, Inc | 1,749 | ||||||||
| 5,587 | ACCO Brands Corp | 37 | ||||||||
| 57,811 | * | ACV Auctions, Inc | 378 | |||||||
| 174,070 | * | Alight, Inc | 1,175 | |||||||
| 11,286 | Aris Water Solution, Inc | 188 | ||||||||
| 27,574 | * | ASGN Inc | 2,489 | |||||||
| 5,145 | Barrett Business Services, Inc | 375 | ||||||||
| 66,781 | Booz Allen Hamilton Holding Co | 6,034 | ||||||||
| 22,496 | Brady Corp (Class A) | 1,063 | ||||||||
| 16,522 | * | BrightView Holdings, Inc | 198 | |||||||
| 26,557 | Brink’s Co | 1,612 | ||||||||
| 12,641 | * | CACI International, Inc (Class A) | 3,562 | |||||||
| 26,846 | * | Casella Waste Systems, Inc (Class A) | 1,951 | |||||||
| 18,053 | * | CBIZ, Inc | 721 | |||||||
| 8,021 | * | Cimpress plc | 312 | |||||||
| 44,551 | Cintas Corp | 16,641 | ||||||||
| 226,376 | * | Clarivate Analytics plc | 3,138 | |||||||
| 27,814 | * | Clean Harbors, Inc | 2,439 | |||||||
| 107,499 | * | Copart, Inc | 11,681 | |||||||
| 49,610 | * | CoreCivic, Inc | 551 | |||||||
| 201,024 | * | CoStar Group, Inc | 12,144 | |||||||
| 3,881 | CRA International, Inc | 347 | ||||||||
| 22,984 | Deluxe Corp | 498 | ||||||||
| 20,676 | * | Driven Brands Holdings, Inc | 569 | |||||||
| 129,661 | * | Dun & Bradstreet Holdings, Inc | 1,949 | |||||||
| 1,045 | Ennis, Inc | 21 | ||||||||
| 62,334 | Equifax, Inc | 11,393 | ||||||||
| 28,338 | Exponent, Inc | 2,592 | ||||||||
| 15,944 | * | First Advantage Corp | 202 | |||||||
| 7,582 | * | Forrester Research, Inc | 363 | |||||||
| 7,620 | * | Franklin Covey Co | 352 | |||||||
| 16,142 | * | FTI Consulting, Inc | 2,919 | |||||||
| 42,598 | *,e | Geo Group, Inc | 281 | |||||||
| 264 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 42,732 | * | Harsco Corp | $ | 304 | ||||||
| 40,910 | Healthcare Services Group | 712 | ||||||||
| 14,300 | Heidrick & Struggles International, Inc | 463 | ||||||||
| 8,893 | * | Heritage-Crystal Clean, Inc | 240 | |||||||
| 37,280 | Herman Miller, Inc | 979 | ||||||||
| 10,874 | * | HireRight Holdings Corp | 155 | |||||||
| 23,758 | HNI Corp | 824 | ||||||||
| 15,850 | * | Huron Consulting Group, Inc | 1,030 | |||||||
| 74,086 | * | IAA, Inc | 2,428 | |||||||
| 6,267 | ICF International, Inc | 595 | ||||||||
| 19,828 | Insperity, Inc | 1,979 | ||||||||
| 44,581 | Interface, Inc | 559 | ||||||||
| 64,684 | Jacobs Engineering Group, Inc | 8,223 | ||||||||
| 67,918 | * | KAR Auction Services, Inc | 1,003 | |||||||
| 77,169 | KBR, Inc | 3,734 | ||||||||
| 20,372 | Kelly Services, Inc (Class A) | 404 | ||||||||
| 11,207 | Kforce, Inc | 688 | ||||||||
| 25,171 | Kimball International, Inc (Class B) | 193 | ||||||||
| 29,134 | Korn/Ferry International | 1,690 | ||||||||
| 23,268 | *,e | Legalzoom.com, Inc | 256 | |||||||
| 69,072 | Leidos Holdings, Inc | 6,956 | ||||||||
| 67,802 | * | Li-Cycle Holdings Corp | 467 | |||||||
| 31,415 | Manpower, Inc | 2,400 | ||||||||
| 14,965 | Mantech International Corp (Class A) | 1,428 | ||||||||
| 16,885 | Matthews International Corp (Class A) | 484 | ||||||||
| 12,017 | * | Montrose Environmental Group, Inc | 406 | |||||||
| 19,573 | MSA Safety, Inc | 2,370 | ||||||||
| 196,358 | Nielsen NV | 4,560 | ||||||||
| 4,961 | NL Industries, Inc | 49 | ||||||||
| 95,984 | Pitney Bowes, Inc | 348 | ||||||||
| 79,689 | *,e | Planet Labs PBC | 345 | |||||||
| 4,854 | * | Red Violet, Inc | 92 | |||||||
| 104,675 | Republic Services, Inc | 13,699 | ||||||||
| 20,546 | Resources Connection, Inc | 419 | ||||||||
| 55,521 | Robert Half International, Inc | 4,158 | ||||||||
| 119,495 | Rollins, Inc | 4,173 | ||||||||
| 32,160 | Science Applications International Corp | 2,994 | ||||||||
| 12,140 | * | SP Plus Corp | 373 | |||||||
| 61,807 | Steelcase, Inc (Class A) | 663 | ||||||||
| 49,051 | * | Stericycle, Inc | 2,151 | |||||||
| 12,139 | *,e | Sterling Check Corp | 198 | |||||||
| 29,513 | Tetra Tech, Inc | 4,030 | ||||||||
| 100,803 | TransUnion | 8,063 | ||||||||
| 22,121 | * | TriNet Group, Inc | 1,717 | |||||||
| 19,072 | * | TrueBlue, Inc | 341 | |||||||
| 8,983 | Unifirst Corp | 1,547 | ||||||||
| 63,645 | * | Upwork, Inc | 1,316 | |||||||
| 80,134 | Verisk Analytics, Inc | 13,870 | ||||||||
| 15,178 | * | Viad Corp | 419 | |||||||
| 5,586 | VSE Corp | 210 | ||||||||
| 210,314 | Waste Management, Inc | 32,174 | ||||||||
| 5,398 | * | Willdan Group, Inc | 149 | |||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 228,952 | |||||||||
| 265 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| CONSUMER DURABLES & APPAREL - 1.1% | ||||||||||
| 15,286 | Acushnet Holdings Corp | $ | 637 | |||||||
| 48,382 | * | Allbirds, Inc | 190 | |||||||
| 35,953 | *,e | AMMO, Inc | 138 | |||||||
| 21,459 | * | Beazer Homes USA, Inc | 259 | |||||||
| 38,863 | Brunswick Corp | 2,541 | ||||||||
| 63,158 | * | Callaway Golf Co | 1,288 | |||||||
| 73,053 | * | Capri Holdings Ltd | 2,996 | |||||||
| 23,650 | Carter’s, Inc | 1,667 | ||||||||
| 5,040 | * | Cavco Industries, Inc | 988 | |||||||
| 13,611 | Century Communities, Inc | 612 | ||||||||
| 14,289 | e | Clarus Corp | 271 | |||||||
| 21,656 | Columbia Sportswear Co | 1,550 | ||||||||
| 31,668 | * | Crocs, Inc | 1,541 | |||||||
| 14,122 | * | Deckers Outdoor Corp | 3,606 | |||||||
| 166,594 | DR Horton, Inc | 11,027 | ||||||||
| 10,739 | * | Dream Finders Homes, Inc | 114 | |||||||
| 24,672 | *,e | Ermenegildo Zegna Holditalia S.p.A | 260 | |||||||
| 18,783 | Ethan Allen Interiors, Inc | 380 | ||||||||
| 31,215 | * | Fossil Group, Inc | 161 | |||||||
| 79,850 | Garmin Ltd | 7,845 | ||||||||
| 24,084 | * | G-III Apparel Group Ltd | 487 | |||||||
| 74,136 | * | GoPro, Inc | 410 | |||||||
| 16,535 | * | Green Brick Partners, Inc | 324 | |||||||
| 156,073 | Hanesbrands, Inc | 1,606 | ||||||||
| 67,084 | Hasbro, Inc | 5,493 | ||||||||
| 13,347 | *,e | Helen of Troy Ltd | 2,168 | |||||||
| 2,792 | * | Hovnanian Enterprises, Inc | 119 | |||||||
| 13,822 | Installed Building Products, Inc | 1,149 | ||||||||
| 15,263 | * | iRobot Corp | 561 | |||||||
| 3,583 | Johnson Outdoors, Inc | 219 | ||||||||
| 36,885 | KB Home | 1,050 | ||||||||
| 30,075 | Kontoor Brands, Inc | 1,004 | ||||||||
| 12,660 | * | Latham Group, Inc | 88 | |||||||
| 25,091 | La-Z-Boy, Inc | 595 | ||||||||
| 73,033 | Leggett & Platt, Inc | 2,525 | ||||||||
| 132,136 | Lennar Corp (Class A) | 9,325 | ||||||||
| 2,824 | Lennar Corp (Class B) | 166 | ||||||||
| 12,635 | * | LGI Homes, Inc | 1,098 | |||||||
| 7,210 | Lifetime Brands, Inc | 80 | ||||||||
| 5,568 | * | Lovesac Co | 153 | |||||||
| 58,446 | * | Lululemon Athletica, Inc | 15,933 | |||||||
| 5,951 | * | M/I Homes, Inc | 236 | |||||||
| 13,092 | * | Malibu Boats, Inc | 690 | |||||||
| 8,407 | Marine Products Corp | 80 | ||||||||
| 13,690 | * | MasterCraft Boat Holdings, Inc | 288 | |||||||
| 167,123 | * | Mattel, Inc | 3,732 | |||||||
| 23,210 | MDC Holdings, Inc | 750 | ||||||||
| 17,632 | * | Meritage Homes Corp | 1,278 | |||||||
| 28,443 | * | Mohawk Industries, Inc | 3,530 | |||||||
| 11,320 | Movado Group, Inc | 350 | ||||||||
| 207,669 | Newell Brands Inc | 3,954 | ||||||||
| 632,701 | Nike, Inc (Class B) | 64,662 | ||||||||
| 1,503 | * | NVR, Inc | 6,018 | |||||||
| 266 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 8,770 | Oxford Industries, Inc | $ | 778 | |||||||
| 145,284 | *,e | Peloton Interactive, Inc | 1,334 | |||||||
| 5,912 | *,e | PLBY Group, Inc | 38 | |||||||
| 27,935 | e | Polaris Inc | 2,773 | |||||||
| 107,132 | Pulte Homes, Inc | 4,246 | ||||||||
| 27,406 | *,e | Purple Innovation, Inc | 84 | |||||||
| 40,092 | PVH Corp | 2,281 | ||||||||
| 25,991 | Ralph Lauren Corp | 2,330 | ||||||||
| 3,738 | Rocky Brands, Inc | 128 | ||||||||
| 72,360 | * | Skechers U.S.A., Inc (Class A) | 2,575 | |||||||
| 28,672 | * | Skyline Champion Corp | 1,360 | |||||||
| 29,016 | Smith & Wesson Brands, Inc | 381 | ||||||||
| 67,337 | *,e | Sonos, Inc | 1,215 | |||||||
| 44,766 | Steven Madden Ltd | 1,442 | ||||||||
| 3,716 | Sturm Ruger & Co, Inc | 237 | ||||||||
| 5,163 | Superior Uniform Group, Inc | 92 | ||||||||
| 139,958 | Tapestry, Inc | 4,272 | ||||||||
| 52,524 | * | Taylor Morrison Home Corp | 1,227 | |||||||
| 87,531 | Tempur Sealy International, Inc | 1,871 | ||||||||
| 61,714 | Toll Brothers, Inc | 2,752 | ||||||||
| 18,124 | * | TopBuild Corp | 3,030 | |||||||
| 12,158 | *,e | Traeger, Inc | 52 | |||||||
| 47,835 | * | TRI Pointe Homes, Inc | 807 | |||||||
| 28,980 | * | Tupperware Brands Corp | 184 | |||||||
| 84,878 | * | Under Armour, Inc (Class A) | 707 | |||||||
| 110,542 | * | Under Armour, Inc (Class C) | 838 | |||||||
| 10,905 | * | Unifi, Inc | 153 | |||||||
| 10,485 | * | Universal Electronics, Inc | 268 | |||||||
| 180,319 | VF Corp | 7,965 | ||||||||
| 94,396 | *,e | Vinco Ventures, Inc | 130 | |||||||
| 8,898 | * | Vista Outdoor, Inc | 248 | |||||||
| 34,786 | * | Vizio Holding Corp | 237 | |||||||
| 32,024 | *,e | Vuzix Corp | 227 | |||||||
| 13,847 | e | Weber, Inc | 100 | |||||||
| 28,362 | e | Whirlpool Corp | 4,392 | |||||||
| 48,726 | Wolverine World Wide, Inc | 982 | ||||||||
| 46,993 | * | YETI Holdings, Inc | 2,033 | |||||||
| TOTAL CONSUMER DURABLES & APPAREL | 221,961 | |||||||||
| CONSUMER SERVICES - 2.1% | ||||||||||
| 36,774 | * | 2U, Inc | 385 | |||||||
| 25,118 | * | Accel Entertainment, Inc | 267 | |||||||
| 86,801 | ADT, Inc | 534 | ||||||||
| 29,568 | * | Adtalem Global Education, Inc | 1,064 | |||||||
| 193,238 | * | Airbnb, Inc | 17,214 | |||||||
| 12,233 | * | American Public Education, Inc | 198 | |||||||
| 125,887 | ARAMARK Holdings Corp | 3,856 | ||||||||
| 17,816 | * | Bally’s Corp | 352 | |||||||
| 769 | * | Biglari Holdings, Inc (B Shares) | 94 | |||||||
| 15,173 | * | BJ’s Restaurants, Inc | 329 | |||||||
| 44,145 | Bloomin’ Brands, Inc | 734 | ||||||||
| 8,897 | Bluegreen Vacations Holding Corp | 222 | ||||||||
| 20,969 | * | Booking Holdings, Inc | 36,675 | |||||||
| 19,931 | *,e | Bowlero Corp | 211 | |||||||
| 267 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 43,510 | Boyd Gaming Corp | $ | 2,165 | |||||||
| 28,106 | * | Bright Horizons Family Solutions | 2,375 | |||||||
| 25,489 | * | Brinker International, Inc | 561 | |||||||
| 109,557 | * | Caesars Entertainment, Inc | 4,196 | |||||||
| 468,051 | *,e | Carnival Corp | 4,049 | |||||||
| 11,838 | Carriage Services, Inc | 469 | ||||||||
| 16,727 | * | Century Casinos, Inc | 120 | |||||||
| 23,639 | Cheesecake Factory | 625 | ||||||||
| 76,982 | * | Chegg, Inc | 1,446 | |||||||
| 14,420 | * | Chipotle Mexican Grill, Inc (Class A) | 18,851 | |||||||
| 19,126 | Choice Hotels International, Inc | 2,135 | ||||||||
| 20,586 | Churchill Downs, Inc | 3,943 | ||||||||
| 12,474 | * | Chuy’s Holdings, Inc | 248 | |||||||
| 57,806 | * | Coursera, Inc | 820 | |||||||
| 12,944 | Cracker Barrel Old Country Store, Inc | 1,081 | ||||||||
| 64,257 | Darden Restaurants, Inc | 7,269 | ||||||||
| 23,587 | * | Dave & Buster’s Entertainment, Inc | 773 | |||||||
| 41,277 | * | Denny’s Corp | 358 | |||||||
| 8,713 | e | Dine Brands Global Inc. | 567 | |||||||
| 18,765 | Domino’s Pizza, Inc | 7,313 | ||||||||
| 173,206 | *,e | DraftKings, Inc | 2,021 | |||||||
| 12,069 | * | Duolingo, Inc | 1,057 | |||||||
| 14,501 | * | El Pollo Loco Holdings, Inc | 143 | |||||||
| 10,835 | e | European Wax Center, Inc | 191 | |||||||
| 45,885 | * | Everi Holdings, Inc | 748 | |||||||
| 75,700 | * | Expedia Group, Inc | 7,179 | |||||||
| 45,952 | * | frontdoor, Inc | 1,106 | |||||||
| 16,841 | * | Full House Resorts, Inc | 102 | |||||||
| 7,389 | * | Golden Entertainment, Inc | 292 | |||||||
| 1,473 | Graham Holdings Co | 835 | ||||||||
| 16,404 | * | Grand Canyon Education, Inc | 1,545 | |||||||
| 84,785 | H&R Block, Inc | 2,995 | ||||||||
| 49,665 | * | Hilton Grand Vacations, Inc | 1,775 | |||||||
| 139,998 | Hilton Worldwide Holdings, Inc | 15,601 | ||||||||
| 24,452 | * | Hyatt Hotels Corp | 1,807 | |||||||
| 11,356 | * | Inspired Entertainment, Inc | 98 | |||||||
| 54,564 | International Game Technology plc | 1,013 | ||||||||
| 12,544 | Jack in the Box, Inc | 703 | ||||||||
| 44,656 | e | Krispy Kreme, Inc | 607 | |||||||
| 167,139 | * | Las Vegas Sands Corp | 5,614 | |||||||
| 62,559 | Laureate Education, Inc | 724 | ||||||||
| 20,784 | *,e | Life Time Group Holdings, Inc | 268 | |||||||
| 10,890 | * | Lindblad Expeditions Holdings, Inc | 88 | |||||||
| 137,466 | Marriott International, Inc (Class A) | 18,697 | ||||||||
| 22,871 | Marriott Vacations Worldwide Corp | 2,658 | ||||||||
| 379,214 | McDonald’s Corp | 93,620 | ||||||||
| 195,430 | MGM Resorts International | 5,658 | ||||||||
| 22,276 | *,e | Mister Car Wash, Inc | 242 | |||||||
| 7,140 | * | Monarch Casino & Resort, Inc | 419 | |||||||
| 3,043 | * | NEOGAMES S.A. | 41 | |||||||
| 8,091 | * | Noodles & Co | 38 | |||||||
| 204,209 | *,e | Norwegian Cruise Line Holdings Ltd | 2,271 | |||||||
| 29,338 | * | OneSpaWorld Holdings Ltd | 210 | |||||||
| 18,811 | Papa John’s International, Inc | 1,571 | ||||||||
| 268 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 85,767 | * | Penn National Gaming, Inc | $ | 2,609 | ||||||
| 46,334 | * | Perdoceo Education Corp | 546 | |||||||
| 45,756 | * | Planet Fitness, Inc | 3,112 | |||||||
| 12,559 | *,e | Portillo’s, Inc | 205 | |||||||
| 23,203 | * | PowerSchool Holdings, Inc | 280 | |||||||
| 6,547 | RCI Hospitality Holdings, Inc | 317 | ||||||||
| 26,499 | Red Rock Resorts, Inc | 884 | ||||||||
| 47,538 | *,e | Rover Group, Inc | 179 | |||||||
| 120,421 | * | Royal Caribbean Cruises Ltd | 4,204 | |||||||
| 28,549 | * | Rush Street Interactive, Inc | 133 | |||||||
| 21,790 | Ruth’s Hospitality Group Inc | 354 | ||||||||
| 52,481 | * | Scientific Games Corp (Class A) | 2,466 | |||||||
| 22,953 | * | SeaWorld Entertainment, Inc | 1,014 | |||||||
| 77,028 | Service Corp International | 5,324 | ||||||||
| 20,425 | * | Shake Shack, Inc | 806 | |||||||
| 42,367 | * | Six Flags Entertainment Corp | 919 | |||||||
| 592,103 | Starbucks Corp | 45,231 | ||||||||
| 11,328 | Strategic Education, Inc | 800 | ||||||||
| 13,194 | * | Stride, Inc | 538 | |||||||
| 6,470 | * | Sweetgreen, Inc | 75 | |||||||
| 21,327 | * | Target Hospitality Corp | 122 | |||||||
| 70,662 | * | Terminix Global Holdings, Inc | 2,872 | |||||||
| 35,053 | Texas Roadhouse, Inc (Class A) | 2,566 | ||||||||
| 46,546 | Travel & Leisure Co | 1,807 | ||||||||
| 36,983 | * | Udemy, Inc | 378 | |||||||
| 16,593 | * | Universal Technical Institute, Inc | 118 | |||||||
| 21,929 | Vail Resorts, Inc | 4,782 | ||||||||
| 41,530 | *,e | Vivint Smart Home, Inc | 144 | |||||||
| 97,887 | Wendy’s | 1,848 | ||||||||
| 16,288 | e | Wingstop, Inc | 1,218 | |||||||
| 26,120 | * | WW International Inc | 167 | |||||||
| 45,815 | Wyndham Hotels & Resorts, Inc | 3,011 | ||||||||
| 58,587 | * | Wynn Resorts Ltd | 3,338 | |||||||
| 8,699 | * | Xponential Fitness, Inc | 109 | |||||||
| 144,894 | Yum! Brands, Inc | 16,447 | ||||||||
| TOTAL CONSUMER SERVICES | 402,359 | |||||||||
| DIVERSIFIED FINANCIALS - 5.1% | ||||||||||
| 8,101 | AFC Gamma, Inc | 124 | ||||||||
| 19,794 | Affiliated Managers Group, Inc | 2,308 | ||||||||
| 247,438 | AGNC Investment Corp | 2,739 | ||||||||
| 8,948 | Alerus Financial Corp | 213 | ||||||||
| 166,474 | Ally Financial, Inc | 5,579 | ||||||||
| 9,522 | A-Mark Precious Metals, Inc | 307 | ||||||||
| 310,867 | American Express Co | 43,092 | ||||||||
| 54,253 | Ameriprise Financial, Inc | 12,895 | ||||||||
| 803,650 | Annaly Capital Management, Inc | 4,750 | ||||||||
| 68,911 | Apollo Commercial Real Estate Finance, Inc | 719 | ||||||||
| 236,910 | Apollo Global Management, Inc | 11,485 | ||||||||
| 61,262 | Arbor Realty Trust, Inc | 803 | ||||||||
| 22,112 | Ares Commercial Real Estate Corp | 270 | ||||||||
| 78,238 | Ares Management Corp | 4,449 | ||||||||
| 26,163 | e | ARMOUR Residential REIT, Inc | 184 | |||||||
| 32,135 | Artisan Partners Asset Management, Inc | 1,143 | ||||||||
| 269 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 8,796 | * | Assetmark Financial Holdings, Inc | $ | 165 | ||||||
| 4,316 | Associated Capital Group, Inc | 155 | ||||||||
| 10,240 | e | B. Riley Financial, Inc | 433 | |||||||
| 21,466 | Banco Latinoamericano de Exportaciones S.A. (Class E) | 285 | ||||||||
| 378,977 | Bank of New York Mellon Corp | 15,807 | ||||||||
| 929,434 | * | Berkshire Hathaway, Inc (Class B) | 253,754 | |||||||
| 166,153 | BGC Partners, Inc (Class A) | 560 | ||||||||
| 77,481 | BlackRock, Inc | 47,189 | ||||||||
| 87,301 | e | Blackstone Mortgage Trust, Inc | 2,416 | |||||||
| 361,366 | Blackstone, Inc | 32,967 | ||||||||
| 30,473 | * | Blucora, Inc | 563 | |||||||
| 207,831 | Blue Owl Capital, Inc | 2,085 | ||||||||
| 23,450 | Brightsphere Investment Group, Inc | 422 | ||||||||
| 46,061 | BrightSpire Capital, Inc | 348 | ||||||||
| 37,551 | Broadmark Realty Capital, Inc | 252 | ||||||||
| 48,331 | * | Cannae Holdings, Inc | 935 | |||||||
| 204,249 | Capital One Financial Corp | 21,281 | ||||||||
| 106,775 | Carlyle Group, Inc | 3,381 | ||||||||
| 53,974 | CBOE Global Markets, Inc | 6,109 | ||||||||
| 784,796 | Charles Schwab Corp | 49,583 | ||||||||
| 121,929 | e | Chimera Investment Corp | 1,075 | |||||||
| 47,158 | e | Claros Mortgage Trust, Inc | 790 | |||||||
| 185,659 | CME Group, Inc | 38,004 | ||||||||
| 15,440 | Cohen & Steers, Inc | 982 | ||||||||
| 79,947 | *,e | Coinbase Global, Inc | 3,759 | |||||||
| 31,056 | e | Compass Diversified Trust | 665 | |||||||
| 18,127 | Cowen Group, Inc | 429 | ||||||||
| 3,577 | *,e | Credit Acceptance Corp | 1,693 | |||||||
| 9,440 | * | Cryptyde, Inc | 19 | |||||||
| 7,834 | Curo Group Holdings Corp | 43 | ||||||||
| 2,179 | Diamond Hill Investment Group, Inc | 378 | ||||||||
| 144,788 | Discover Financial Services | 13,694 | ||||||||
| 19,156 | * | Donnelley Financial Solutions, Inc | 561 | |||||||
| 11,107 | Dynex Capital, Inc | 177 | ||||||||
| 17,423 | e | Ellington Financial Inc | 256 | |||||||
| 10,179 | *,e | Encore Capital Group, Inc | 588 | |||||||
| 23,911 | * | Enova International, Inc | 689 | |||||||
| 197,378 | Equitable Holdings, Inc | 5,146 | ||||||||
| 21,958 | Evercore Inc | 2,056 | ||||||||
| 38,445 | * | Ezcorp, Inc (Class A) | 289 | |||||||
| 19,752 | Factset Research Systems, Inc | 7,596 | ||||||||
| 51,663 | Federated Investors, Inc (Class B) | 1,642 | ||||||||
| 24,222 | FirstCash Holdings, Inc | 1,684 | ||||||||
| 32,102 | * | Focus Financial Partners, Inc | 1,093 | |||||||
| 23,368 | Franklin BSP Realty Trust, Inc | 315 | ||||||||
| 158,845 | e | Franklin Resources, Inc | 3,703 | |||||||
| 2,827 | e | GAMCO Investors, Inc (Class A) | 59 | |||||||
| 23,172 | e | GCM Grosvenor, Inc | 159 | |||||||
| 170,602 | Goldman Sachs Group, Inc | 50,672 | ||||||||
| 31,227 | Granite Point Mortgage Trust, Inc | 299 | ||||||||
| 33,057 | * | Green Dot Corp | 830 | |||||||
| 18,233 | Hamilton Lane, Inc | 1,225 | ||||||||
| 41,845 | e | Hannon Armstrong Sustainable Infrastructure Capital, Inc | 1,584 | |||||||
| 25,893 | Houlihan Lokey, Inc | 2,044 | ||||||||
| 270 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 44,099 | Interactive Brokers Group, Inc (Class A) | $ | 2,426 | |||||||
| 286,870 | Intercontinental Exchange Group, Inc | 26,977 | ||||||||
| 183,237 | Invesco Ltd | 2,956 | ||||||||
| 10,073 | e | Invesco Mortgage Capital, Inc | 148 | |||||||
| 38,721 | Jackson Financial, Inc | 1,036 | ||||||||
| 84,445 | Janus Henderson Group plc | 1,985 | ||||||||
| 110,637 | Jefferies Financial Group, Inc | 3,056 | ||||||||
| 289,960 | KKR & Co, Inc | 13,422 | ||||||||
| 17,625 | KKR Real Estate Finance Trust, Inc | 308 | ||||||||
| 49,932 | Ladder Capital Corp | 526 | ||||||||
| 55,948 | Lazard Ltd (Class A) | 1,813 | ||||||||
| 42,896 | * | LendingClub Corp | 501 | |||||||
| 6,343 | * | LendingTree, Inc | 278 | |||||||
| 40,959 | LPL Financial Holdings, Inc | 7,556 | ||||||||
| 8,130 | Manning & Napier, Inc | 101 | ||||||||
| 18,723 | MarketAxess Holdings, Inc | 4,793 | ||||||||
| 46,018 | MFA Financial, Inc | 495 | ||||||||
| 33,380 | Moelis & Co | 1,314 | ||||||||
| 74,135 | * | Moneylion, Inc | 98 | |||||||
| 83,362 | Moody’s Corp | 22,672 | ||||||||
| 658,870 | Morgan Stanley | 50,114 | ||||||||
| 12,847 | Morningstar, Inc | 3,107 | ||||||||
| 40,953 | MSCI, Inc (Class A) | 16,879 | ||||||||
| 59,335 | Nasdaq Inc | 9,051 | ||||||||
| 72,107 | Navient Corp | 1,009 | ||||||||
| 3,424 | Nelnet, Inc (Class A) | 292 | ||||||||
| 185,902 | New Residential Investment Corp | 1,733 | ||||||||
| 73,139 | New York Mortgage Trust, Inc | 202 | ||||||||
| 108,636 | Northern Trust Corp | 10,481 | ||||||||
| 60,203 | OneMain Holdings, Inc | 2,250 | ||||||||
| 56,898 | * | Open Lending Corp | 582 | |||||||
| 11,565 | * | Oportun Financial Corp | 96 | |||||||
| 7,363 | Oppenheimer Holdings, Inc | 243 | ||||||||
| 23,694 | e | Orchid Island Capital, Inc | 68 | |||||||
| 47,765 | e | PennyMac Mortgage Investment Trust | 661 | |||||||
| 23,862 | Perella Weinberg Partners | 139 | ||||||||
| 10,272 | Piper Jaffray Cos | 1,164 | ||||||||
| 13,025 | PJT Partners, Inc | 915 | ||||||||
| 24,781 | * | PRA Group, Inc | 901 | |||||||
| 36,804 | * | PROG Holdings, Inc | 607 | |||||||
| 9,591 | Pzena Investment Management, Inc (Class A) | 63 | ||||||||
| 98,653 | Raymond James Financial, Inc | 8,821 | ||||||||
| 22,908 | Ready Capital Corp | 273 | ||||||||
| 49,700 | Redwood Trust, Inc | 383 | ||||||||
| 8,577 | Regional Management Corp | 321 | ||||||||
| 286,577 | * | Robinhood Markets, Inc | 2,356 | |||||||
| 175,379 | S&P Global, Inc | 59,113 | ||||||||
| 10,879 | Sculptor Capital Management, Inc | 91 | ||||||||
| 50,003 | SEI Investments Co | 2,701 | ||||||||
| 145,203 | SLM Corp | 2,315 | ||||||||
| 410,032 | *,e | SoFi Technologies, Inc | 2,161 | |||||||
| 137,605 | Starwood Property Trust, Inc | 2,875 | ||||||||
| 190,999 | State Street Corp | 11,775 | ||||||||
| 20,369 | StepStone Group, Inc | 530 | ||||||||
| 271 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 56,036 | Stifel Financial Corp | $ | 3,139 | |||||||
| 11,369 | * | StoneX Group, Inc | 888 | |||||||
| 257,788 | Synchrony Financial | 7,120 | ||||||||
| 118,281 | T Rowe Price Group, Inc | 13,438 | ||||||||
| 32,761 | TPG RE Finance Trust, Inc | 295 | ||||||||
| 52,338 | Tradeweb Markets, Inc | 3,572 | ||||||||
| 149,469 | Two Harbors Investment Corp | 744 | ||||||||
| 37,848 | *,e | Upstart Holdings, Inc | 1,197 | |||||||
| 8,459 | Victory Capital Holdings, Inc | 204 | ||||||||
| 51,259 | Virtu Financial, Inc | 1,200 | ||||||||
| 2,751 | Virtus Investment Partners, Inc | 470 | ||||||||
| 56,679 | Voya Financial, Inc | 3,374 | ||||||||
| 84,317 | e | WisdomTree Investments, Inc | 427 | |||||||
| 2,399 | *,e | World Acceptance Corp | 269 | |||||||
| TOTAL DIVERSIFIED FINANCIALS | 997,018 | |||||||||
| ENERGY - 4.4% | ||||||||||
| 39,034 | *,e | Alto Ingredients, Inc | 145 | |||||||
| 8,490 | e | Altus Midstream Co | 290 | |||||||
| 18,289 | * | Amplify Energy Corp | 120 | |||||||
| 183,627 | Antero Midstream Corp | 1,662 | ||||||||
| 142,450 | * | Antero Resources Corp | 4,366 | |||||||
| 173,838 | APA Corp | 6,067 | ||||||||
| 7,811 | Arch Resources, Inc | 1,118 | ||||||||
| 30,550 | * | Archaea Energy, Inc | 474 | |||||||
| 69,395 | Archrock, Inc | 574 | ||||||||
| 17,877 | * | Ardmore Shipping Corp | 125 | |||||||
| 477,668 | Baker Hughes Co | 13,790 | ||||||||
| 36,376 | Berry Petroleum Co LLC | 277 | ||||||||
| 37,806 | Bonanza Creek Energy, Inc | 1,977 | ||||||||
| 68,885 | *,e | Borr Drilling Ltd | 318 | |||||||
| 23,816 | Brigham Minerals, Inc | 587 | ||||||||
| 4,788 | * | Bristow Group, Inc | 112 | |||||||
| 410,279 | Cabot Oil & Gas Corp | 10,581 | ||||||||
| 29,784 | Cactus, Inc | 1,199 | ||||||||
| 44,459 | California Resources Corp | 1,712 | ||||||||
| 21,769 | * | Callon Petroleum Co | 853 | |||||||
| 98,820 | * | Centennial Resource Development, Inc | 591 | |||||||
| 5,171 | *,e | Centrus Energy Corp | 128 | |||||||
| 110,556 | ChampionX Corp | 2,195 | ||||||||
| 130,655 | Cheniere Energy, Inc | 17,381 | ||||||||
| 65,778 | e | Chesapeake Energy Corp | 5,335 | |||||||
| 1,014,766 | Chevron Corp | 146,918 | ||||||||
| 75,896 | * | Clean Energy Fuels Corp | 340 | |||||||
| 87,769 | * | CNX Resources Corp | 1,445 | |||||||
| 49,969 | * | Comstock Resources Inc | 604 | |||||||
| 668,083 | ConocoPhillips | 60,001 | ||||||||
| 20,666 | * | CONSOL Energy, Inc | 1,020 | |||||||
| 18,591 | e | Continental Resources, Inc | 1,215 | |||||||
| 10,678 | e | Crescent Energy, Inc | 133 | |||||||
| 11,149 | CVR Energy, Inc | 373 | ||||||||
| 27,497 | * | Delek US Holdings, Inc | 711 | |||||||
| 27,534 | * | Denbury, Inc | 1,652 | |||||||
| 339,415 | Devon Energy Corp | 18,705 | ||||||||
| 272 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 55,111 | DHT Holdings, Inc | $ | 338 | |||||||
| 51,211 | * | Diamond Offshore Drilling, Inc | 302 | |||||||
| 91,354 | Diamondback Energy, Inc | 11,068 | ||||||||
| 9,586 | * | DMC Global, Inc | 173 | |||||||
| 19,179 | Dorian LPG Ltd | 291 | ||||||||
| 19,159 | * | Dril-Quip, Inc | 494 | |||||||
| 52,968 | DT Midstream, Inc | 2,596 | ||||||||
| 7,121 | *,e | Earthstone Energy, Inc | 97 | |||||||
| 56,201 | *,e | Energy Fuels, Inc | 276 | |||||||
| 15,785 | Enviva, Inc | 903 | ||||||||
| 301,947 | EOG Resources, Inc | 33,347 | ||||||||
| 190,086 | EQT Corp | 6,539 | ||||||||
| 223,182 | Equitrans Midstream Corp | 1,419 | ||||||||
| 9,511 | * | Excelerate Energy, Inc | 189 | |||||||
| 2,176,875 | d | Exxon Mobil Corp | 186,428 | |||||||
| 14,619 | e | FLEX LNG Ltd | 400 | |||||||
| 39,745 | * | Frank’s International NV | 458 | |||||||
| 70,150 | *,e | Frontline Ltd | 622 | |||||||
| 106,507 | *,e | Gevo, Inc | 250 | |||||||
| 42,501 | * | Golar LNG Ltd | 967 | |||||||
| 26,945 | * | Green Plains Inc | 732 | |||||||
| 6,101 | * | Gulfport Energy Operating Corp | 485 | |||||||
| 472,263 | Halliburton Co | 14,810 | ||||||||
| 100,808 | * | Helix Energy Solutions Group, Inc | 312 | |||||||
| 52,744 | Helmerich & Payne, Inc | 2,271 | ||||||||
| 146,598 | Hess Corp | 15,531 | ||||||||
| 82,202 | HF Sinclair Corp | 3,712 | ||||||||
| 28,719 | International Seaways, Inc | 609 | ||||||||
| 1,030,068 | Kinder Morgan, Inc | 17,264 | ||||||||
| 234,852 | * | Kosmos Energy Ltd | 1,454 | |||||||
| 6,863 | * | Laredo Petroleum, Inc | 473 | |||||||
| 73,190 | * | Liberty Oilfield Services, Inc | 934 | |||||||
| 85,538 | Magnolia Oil & Gas Corp | 1,795 | ||||||||
| 363,906 | Marathon Oil Corp | 8,181 | ||||||||
| 278,833 | Marathon Petroleum Corp | 22,923 | ||||||||
| 61,756 | Matador Resources Co | 2,877 | ||||||||
| 75,569 | Murphy Oil Corp | 2,281 | ||||||||
| 4,194 | * | Nabors Industries Ltd | 562 | |||||||
| 16,237 | * | National Energy Services Reunited Corp | 110 | |||||||
| 24,850 | e | New Fortress Energy, Inc | 983 | |||||||
| 63,344 | * | Newpark Resources, Inc | 196 | |||||||
| 76,759 | * | NexTier Oilfield Solutions, Inc | 730 | |||||||
| 19,288 | * | Noble Corp | 489 | |||||||
| 68,002 | Nordic American Tankers Ltd | 145 | ||||||||
| 26,098 | Northern Oil and Gas, Inc | 659 | ||||||||
| 214,007 | NOV, Inc | 3,619 | ||||||||
| 10,080 | Oasis Petroleum, Inc | 1,226 | ||||||||
| 422,344 | Occidental Petroleum Corp | 24,868 | ||||||||
| 54,360 | * | Oceaneering International, Inc | 581 | |||||||
| 38,178 | * | Oil States International, Inc | 207 | |||||||
| 229,327 | ONEOK, Inc | 12,728 | ||||||||
| 133,988 | Ovintiv, Inc | 5,921 | ||||||||
| 23,180 | * | Par Pacific Holdings, Inc | 361 | |||||||
| 101,807 | Patterson-UTI Energy, Inc | 1,604 | ||||||||
| 273 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 52,566 | * | PBF Energy, Inc | $ | 1,525 | ||||||
| 48,796 | e | PDC Energy, Inc | 3,006 | |||||||
| 60,358 | * | Peabody Energy Corp | 1,287 | |||||||
| 10,090 | * | Penn Virginia Corp | 332 | |||||||
| 246,452 | Phillips 66 | 20,207 | ||||||||
| 124,368 | Pioneer Natural Resources Co | 27,744 | ||||||||
| 48,018 | * | ProPetro Holding Corp | 480 | |||||||
| 135,610 | * | Range Resources Corp | 3,356 | |||||||
| 4,186 | * | Rex American Resources Corp | 355 | |||||||
| 4,815 | e | Riley Exploration Permian, Inc | 116 | |||||||
| 44,313 | * | Ring Energy, Inc | 118 | |||||||
| 42,512 | * | RPC, Inc | 294 | |||||||
| 16,291 | * | SandRidge Energy, Inc | 255 | |||||||
| 737,945 | Schlumberger Ltd | 26,389 | ||||||||
| 26,610 | Scorpio Tankers, Inc | 918 | ||||||||
| 6,869 | * | Select Energy Services, Inc | 47 | |||||||
| 45,041 | SFL Corp Ltd | 427 | ||||||||
| 6,017 | * | SilverBow Resources, Inc | 171 | |||||||
| 6,221 | Sitio Royalties Corp | 144 | ||||||||
| 63,633 | SM Energy Co | 2,176 | ||||||||
| 6,855 | Solaris Oilfield Infrastructure, Inc | 75 | ||||||||
| 541,965 | * | Southwestern Energy Co | 3,387 | |||||||
| 33,911 | * | Talos Energy, Inc | 525 | |||||||
| 114,858 | Targa Resources Investments, Inc | 6,854 | ||||||||
| 35,750 | * | Teekay Corp | 103 | |||||||
| 11,719 | * | Teekay Tankers Ltd | 207 | |||||||
| 172,980 | * | Tellurian, Inc | 515 | |||||||
| 66,939 | * | Tetra Technologies, Inc | 272 | |||||||
| 2,915 | Texas Pacific Land Corp | 4,338 | ||||||||
| 16,234 | * | Tidewater, Inc | 342 | |||||||
| 95,169 | *,e | Uranium Energy Corp | 293 | |||||||
| 108,834 | * | Ur-Energy, Inc | 115 | |||||||
| 37,988 | * | US Silica Holdings, Inc | 434 | |||||||
| 29,976 | e | Vaalco Energy, Inc | 208 | |||||||
| 31,352 | * | Valaris Ltd | 1,324 | |||||||
| 212,823 | Valero Energy Corp | 22,619 | ||||||||
| 27,727 | *,e | Vertex Energy, Inc | 292 | |||||||
| 14,396 | * | W&T Offshore, Inc | 62 | |||||||
| 36,238 | * | Weatherford International Ltd | 767 | |||||||
| 21,493 | Whiting Petroleum Corp | 1,462 | ||||||||
| 628,435 | Williams Cos, Inc | 19,613 | ||||||||
| 29,960 | World Fuel Services Corp | 613 | ||||||||
| TOTAL ENERGY | 857,651 | |||||||||
| FOOD & STAPLES RETAILING - 1.4% | ||||||||||
| 87,310 | Albertsons Cos, Inc | 2,333 | ||||||||
| 19,849 | Andersons, Inc | 655 | ||||||||
| 74,804 | * | BJ’s Wholesale Club Holdings, Inc | 4,662 | |||||||
| 18,360 | Casey’s General Stores, Inc | 3,396 | ||||||||
| 14,374 | * | Chefs’ Warehouse Holdings, Inc | 559 | |||||||
| 228,617 | Costco Wholesale Corp | 109,572 | ||||||||
| 47,990 | * | Grocery Outlet Holding Corp | 2,046 | |||||||
| 21,180 | *,e | HF Foods Group Inc | 111 | |||||||
| 7,290 | Ingles Markets, Inc (Class A) | 632 | ||||||||
| 274 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 338,299 | Kroger Co | $ | 16,012 | |||||||
| 6,410 | Natural Grocers by Vitamin C | 102 | ||||||||
| 81,687 | * | Performance Food Group Co | 3,756 | |||||||
| 14,866 | Pricesmart, Inc | 1,065 | ||||||||
| 38,176 | *,e | Rite Aid Corp | 257 | |||||||
| 7,101 | SpartanNash Co | 214 | ||||||||
| 64,788 | * | Sprouts Farmers Market, Inc | 1,640 | |||||||
| 255,327 | SYSCO Corp | 21,629 | ||||||||
| 30,449 | * | United Natural Foods, Inc | 1,200 | |||||||
| 121,342 | * | US Foods Holding Corp | 3,723 | |||||||
| 4,843 | Village Super Market (Class A) | 110 | ||||||||
| 364,496 | Walgreens Boots Alliance, Inc | 13,814 | ||||||||
| 744,376 | Walmart, Inc | 90,501 | ||||||||
| 8,426 | Weis Markets, Inc | 628 | ||||||||
| TOTAL FOOD & STAPLES RETAILING | 278,617 | |||||||||
| FOOD, BEVERAGE & TOBACCO - 3.4% | ||||||||||
| 82,392 | *,e | 22nd Century Group, Inc | 175 | |||||||
| 3,213 | Alico, Inc | 114 | ||||||||
| 935,207 | Altria Group, Inc | 39,064 | ||||||||
| 26,157 | *,e | AppHarvest, Inc | 91 | |||||||
| 290,468 | Archer-Daniels-Midland Co | 22,540 | ||||||||
| 34,958 | B&G Foods, Inc (Class A) | 831 | ||||||||
| 87,744 | * | Benson Hill, Inc | 240 | |||||||
| 31,483 | *,e | Beyond Meat, Inc | 754 | |||||||
| 5,121 | * | Boston Beer Co, Inc (Class A) | 1,551 | |||||||
| 13,162 | * | BRC, Inc | 107 | |||||||
| 25,010 | Brown-Forman Corp (Class A) | 1,692 | ||||||||
| 91,961 | Brown-Forman Corp (Class B) | 6,452 | ||||||||
| 70,268 | Bunge Ltd | 6,373 | ||||||||
| 11,455 | Calavo Growers, Inc | 478 | ||||||||
| 22,629 | Cal-Maine Foods, Inc | 1,118 | ||||||||
| 107,192 | Campbell Soup Co | 5,151 | ||||||||
| 29,057 | *,e | Celsius Holdings, Inc | 1,896 | |||||||
| 2,006,757 | Coca-Cola Co | 126,245 | ||||||||
| 2,566 | Coca-Cola Consolidated Inc | 1,447 | ||||||||
| 238,268 | ConAgra Brands, Inc | 8,158 | ||||||||
| 78,682 | Constellation Brands, Inc (Class A) | 18,338 | ||||||||
| 81,644 | * | Darling International, Inc | 4,882 | |||||||
| 11,007 | * | Duckhorn Portfolio, Inc | 232 | |||||||
| 85,884 | Flowers Foods, Inc | 2,260 | ||||||||
| 20,613 | Fresh Del Monte Produce, Inc | 609 | ||||||||
| 23,047 | * | Freshpet, Inc | 1,196 | |||||||
| 310,876 | General Mills, Inc | 23,456 | ||||||||
| 46,022 | * | Hain Celestial Group, Inc | 1,093 | |||||||
| 75,041 | Hershey Co | 16,146 | ||||||||
| 143,109 | Hormel Foods Corp | 6,778 | ||||||||
| 71,472 | * | Hostess Brands, Inc | 1,516 | |||||||
| 32,682 | Ingredion, Inc | 2,881 | ||||||||
| 8,046 | J&J Snack Foods Corp | 1,124 | ||||||||
| 54,783 | J.M. Smucker Co | 7,013 | ||||||||
| 5,780 | John B. Sanfilippo & Son, Inc | 419 | ||||||||
| 130,457 | Kellogg Co | 9,307 | ||||||||
| 442,473 | Keurig Dr Pepper, Inc | 15,659 | ||||||||
| 275 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 360,590 | Kraft Heinz Co | $ | 13,753 | |||||||
| 72,659 | Lamb Weston Holdings, Inc | 5,192 | ||||||||
| 10,268 | Lancaster Colony Corp | 1,322 | ||||||||
| 19,323 | * | Landec Corp | 193 | |||||||
| 131,394 | McCormick & Co, Inc | 10,938 | ||||||||
| 9,193 | MGP Ingredients, Inc | 920 | ||||||||
| 20,226 | * | Mission Produce, Inc | 288 | |||||||
| 90,373 | Molson Coors Brewing Co (Class B) | 4,926 | ||||||||
| 712,588 | Mondelez International, Inc | 44,245 | ||||||||
| 189,751 | * | Monster Beverage Corp | 17,590 | |||||||
| 12,819 | National Beverage Corp | 627 | ||||||||
| 710,302 | PepsiCo, Inc | 118,379 | ||||||||
| 800,142 | Philip Morris International, Inc | 79,006 | ||||||||
| 24,393 | * | Pilgrim’s Pride Corp | 762 | |||||||
| 27,833 | * | Post Holdings, Inc | 2,292 | |||||||
| 92,946 | Primo Water Corp | 1,244 | ||||||||
| 10,973 | Sanderson Farms, Inc | 2,365 | ||||||||
| 131 | Seaboard Corp | 509 | ||||||||
| 5,451 | * | Seneca Foods Corp | 303 | |||||||
| 46,457 | * | Simply Good Foods Co | 1,755 | |||||||
| 14,597 | * | Sovos Brands, Inc | 232 | |||||||
| 50,062 | * | SunOpta, Inc | 389 | |||||||
| 25,510 | *,e | Tattooed Chef, Inc | 161 | |||||||
| 12,352 | e | Tootsie Roll Industries, Inc | 437 | |||||||
| 29,630 | * | TreeHouse Foods, Inc | 1,239 | |||||||
| 4,760 | Turning Point Brands, Inc | 129 | ||||||||
| 140,077 | Tyson Foods, Inc (Class A) | 12,055 | ||||||||
| 12,387 | Universal Corp | 749 | ||||||||
| 32,173 | e | Utz Brands, Inc | 445 | |||||||
| 78,380 | Vector Group Ltd | 823 | ||||||||
| 16,593 | * | Vintage Wine Estates, Inc | 130 | |||||||
| 14,289 | * | Vita Coco Co, Inc | 140 | |||||||
| 13,394 | * | Vital Farms, Inc | 117 | |||||||
| 20,392 | * | Whole Earth Brands, Inc | 126 | |||||||
| TOTAL FOOD, BEVERAGE & TOBACCO | 661,167 | |||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 6.1% | ||||||||||
| 63,623 | * | 1Life Healthcare, Inc | 499 | |||||||
| 885,434 | Abbott Laboratories | 96,202 | ||||||||
| 22,399 | * | Abiomed, Inc | 5,544 | |||||||
| 48,576 | * | Acadia Healthcare Co, Inc | 3,285 | |||||||
| 27,471 | * | Accolade, Inc | 203 | |||||||
| 42,027 | * | AdaptHealth Corp | 758 | |||||||
| 8,397 | * | Addus HomeCare Corp | 699 | |||||||
| 12,333 | * | Agiliti, Inc | 253 | |||||||
| 89,660 | * | agilon health, Inc | 1,957 | |||||||
| 41,729 | * | Align Technology, Inc | 9,876 | |||||||
| 14,356 | *,e | Alignment Healthcare, Inc | 164 | |||||||
| 51,829 | * | Allscripts Healthcare Solutions, Inc | 769 | |||||||
| 31,277 | * | Alphatec Holdings Inc | 205 | |||||||
| 17,538 | * | Amedisys, Inc | 1,844 | |||||||
| 106,234 | * | American Well Corp | 459 | |||||||
| 76,774 | AmerisourceBergen Corp | 10,862 | ||||||||
| 25,726 | *,e | AMN Healthcare Services, Inc | 2,822 | |||||||
| 276 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 26,107 | * | Angiodynamics, Inc | $ | 505 | ||||||
| 16,786 | *,e | Apollo Medical Holdings, Inc | 648 | |||||||
| 22,609 | * | AtriCure, Inc | 924 | |||||||
| 1,019 | Atrion Corp | 641 | ||||||||
| 26,266 | * | Avanos Medical, Inc | 718 | |||||||
| 21,058 | * | Aveanna Healthcare Holdings, Inc | 48 | |||||||
| 18,090 | * | AxoGen, Inc | 148 | |||||||
| 22,714 | * | Axonics Modulation Technologies, Inc | 1,287 | |||||||
| 263,385 | Baxter International, Inc | 16,917 | ||||||||
| 146,605 | Becton Dickinson & Co | 36,143 | ||||||||
| 13,317 | * | BioLife Solutions Inc | 184 | |||||||
| 16,190 | *,e | Bioventus, Inc | 110 | |||||||
| 734,435 | * | Boston Scientific Corp | 27,372 | |||||||
| 100,981 | * | Brookdale Senior Living, Inc | 458 | |||||||
| 98,379 | *,e | Butterfly Network, Inc | 302 | |||||||
| 82,987 | * | Cano Health, Inc | 363 | |||||||
| 144,641 | Cardinal Health, Inc | 7,560 | ||||||||
| 23,626 | * | Cardiovascular Systems, Inc | 339 | |||||||
| 30,584 | *,e | CareMax, Inc | 111 | |||||||
| 11,625 | * | Castle Biosciences, Inc | 255 | |||||||
| 300,184 | * | Centene Corp | 25,399 | |||||||
| 44,636 | *,e | Certara, Inc | 958 | |||||||
| 71,510 | * | Cerus Corp | 378 | |||||||
| 104,193 | * | Change Healthcare, Inc | 2,403 | |||||||
| 7,521 | Chemed Corp | 3,530 | ||||||||
| 161,273 | Cigna Corp | 42,499 | ||||||||
| 195,629 | * | Clover Health Investments Corp | 419 | |||||||
| 67,798 | * | Community Health Systems, Inc | 254 | |||||||
| 8,700 | * | Computer Programs & Systems, Inc | 278 | |||||||
| 15,846 | Conmed Corp | 1,517 | ||||||||
| 24,480 | Cooper Cos, Inc | 7,665 | ||||||||
| 4,814 | * | Corvel Corp | 709 | |||||||
| 56,477 | * | Covetrus, Inc | 1,172 | |||||||
| 25,224 | * | Cross Country Healthcare, Inc | 525 | |||||||
| 23,064 | * | CryoLife, Inc | 435 | |||||||
| 22,130 | * | CryoPort, Inc | 686 | |||||||
| 55,246 | * | Cue Health, Inc | 177 | |||||||
| 10,004 | * | Cutera, Inc | 375 | |||||||
| 676,864 | CVS Health Corp | 62,718 | ||||||||
| 32,781 | * | DaVita, Inc | 2,621 | |||||||
| 10,656 | *,e | Definitive Healthcare Corp | 244 | |||||||
| 106,534 | Dentsply Sirona, Inc | 3,806 | ||||||||
| 201,644 | * | Dexcom, Inc | 15,029 | |||||||
| 41,284 | * | DocGo, Inc | 295 | |||||||
| 49,456 | *,e | Doximity, Inc | 1,722 | |||||||
| 320,136 | * | Edwards Lifesciences Corp | 30,442 | |||||||
| 123,246 | Elevance Health, Inc | 59,476 | ||||||||
| 30,207 | * | Embecta Corp | 765 | |||||||
| 54,203 | Encompass Health Corp | 3,038 | ||||||||
| 21,428 | * | Enovis Corp | 1,179 | |||||||
| 28,674 | Ensign Group, Inc | 2,107 | ||||||||
| 79,184 | * | Envista Holdings Corp | 3,052 | |||||||
| 45,708 | * | Evolent Health, Inc | 1,404 | |||||||
| 65,385 | * | Figs, Inc | 596 | |||||||
| 277 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 11,072 | * | Fulgent Genetics, Inc | $ | 604 | ||||||
| 24,523 | * | Glaukos Corp | 1,114 | |||||||
| 42,442 | * | Globus Medical, Inc | 2,383 | |||||||
| 49,332 | * | Guardant Health, Inc | 1,990 | |||||||
| 27,531 | * | Haemonetics Corp | 1,794 | |||||||
| 23,398 | * | Hanger Inc | 335 | |||||||
| 116,424 | HCA Healthcare, Inc | 19,566 | ||||||||
| 24,393 | * | Health Catalyst, Inc | 353 | |||||||
| 42,554 | * | HealthEquity, Inc | 2,612 | |||||||
| 18,780 | * | HealthStream, Inc | 408 | |||||||
| 70,773 | * | Henry Schein, Inc | 5,431 | |||||||
| 4,605 | * | Heska Corp | 435 | |||||||
| 62,220 | * | Hims & Hers Health, Inc | 282 | |||||||
| 123,936 | * | Hologic, Inc | 8,589 | |||||||
| 65,267 | Humana, Inc | 30,550 | ||||||||
| 10,885 | * | ICU Medical, Inc | 1,789 | |||||||
| 43,685 | * | IDEXX Laboratories, Inc | 15,322 | |||||||
| 24,734 | * | Inari Medical, Inc | 1,682 | |||||||
| 10,000 | *,e | Innovage Holding Corp | 44 | |||||||
| 12,244 | * | Inogen, Inc | 296 | |||||||
| 13,280 | * | Inspire Medical Systems, Inc | 2,426 | |||||||
| 34,390 | * | Insulet Corp | 7,495 | |||||||
| 17,928 | * | Integer Holding Corp | 1,267 | |||||||
| 39,699 | * | Integra LifeSciences Holdings Corp | 2,145 | |||||||
| 184,995 | * | Intuitive Surgical, Inc | 37,130 | |||||||
| 109,344 | *,e | Invitae Corp | 267 | |||||||
| 3,653 | iRadimed Corp | 124 | ||||||||
| 16,105 | * | iRhythm Technologies, Inc | 1,740 | |||||||
| 7,427 | * | Joint Corp | 114 | |||||||
| 47,794 | Laboratory Corp of America Holdings | 11,201 | ||||||||
| 34,223 | * | Lantheus Holdings, Inc | 2,260 | |||||||
| 9,523 | LeMaitre Vascular, Inc | 434 | ||||||||
| 17,004 | * | LHC Group, Inc | 2,648 | |||||||
| 25,006 | *,e | LifeStance Health Group, Inc | 139 | |||||||
| 26,810 | * | LivaNova plc | 1,675 | |||||||
| 27,485 | * | Masimo Corp | 3,591 | |||||||
| 73,075 | McKesson Corp | 23,838 | ||||||||
| 43,753 | * | MEDNAX, Inc | 919 | |||||||
| 690,158 | Medtronic plc | 61,942 | ||||||||
| 11,623 | * | Meridian Bioscience, Inc | 354 | |||||||
| 28,011 | * | Merit Medical Systems, Inc | 1,520 | |||||||
| 2,255 | Mesa Laboratories, Inc | 460 | ||||||||
| 6,780 | * | ModivCare, Inc | 573 | |||||||
| 30,182 | * | Molina Healthcare, Inc | 8,439 | |||||||
| 193,725 | *,e | Multiplan Corp | 1,064 | |||||||
| 21,550 | *,e | Nano-X Imaging Ltd | 244 | |||||||
| 2,600 | National Healthcare Corp | 182 | ||||||||
| 5,598 | National Research Corp | 214 | ||||||||
| 24,197 | * | Natus Medical, Inc | 793 | |||||||
| 55,746 | * | Neogen Corp | 1,343 | |||||||
| 19,942 | * | Nevro Corp | 874 | |||||||
| 37,773 | * | NextGen Healthcare, Inc | 659 | |||||||
| 56,233 | * | Novocure Ltd | 3,908 | |||||||
| 28,270 | * | NuVasive, Inc | 1,390 | |||||||
| 278 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 56,949 | *,e | Oak Street Health, Inc | $ | 936 | ||||||
| 23,061 | * | Omnicell, Inc | 2,623 | |||||||
| 238,337 | *,e | Opko Health, Inc | 603 | |||||||
| 8,440 | * | OptimizeRx Corp | 231 | |||||||
| 80,646 | * | Option Care Health, Inc | 2,241 | |||||||
| 40,487 | * | OraSure Technologies, Inc | 110 | |||||||
| 12,159 | * | Orthofix Medical Inc | 286 | |||||||
| 5,177 | * | OrthoPediatrics Corp | 223 | |||||||
| 24,964 | * | Outset Medical, Inc | 371 | |||||||
| 31,294 | Owens & Minor, Inc | 984 | ||||||||
| 23,637 | *,e | Paragon 28, Inc | 375 | |||||||
| 44,685 | Patterson Cos, Inc | 1,354 | ||||||||
| 17,723 | * | Pennant Group, Inc | 227 | |||||||
| 17,918 | * | Penumbra, Inc | 2,231 | |||||||
| 14,406 | * | PetIQ, Inc | 242 | |||||||
| 20,801 | * | Phreesia, Inc | 520 | |||||||
| 56,653 | Premier, Inc | 2,021 | ||||||||
| 10,696 | * | Privia Health Group, Inc | 311 | |||||||
| 13,124 | *,e | PROCEPT BioRobotics Corp | 429 | |||||||
| 34,423 | * | Progyny, Inc | 1,000 | |||||||
| 72,154 | * | Project Roadrunner Parent, Inc | 1,512 | |||||||
| 13,858 | *,e | Pulmonx Corp | 204 | |||||||
| 61,785 | Quest Diagnostics, Inc | 8,216 | ||||||||
| 26,154 | * | QuidelOrtho Corp | 2,542 | |||||||
| 25,914 | * | RadNet, Inc | 448 | |||||||
| 76,233 | Resmed, Inc | 15,981 | ||||||||
| 10,559 | *,e | RxSight, Inc | 149 | |||||||
| 24,729 | * | Schrodinger, Inc | 653 | |||||||
| 15,644 | * | SeaSpine Holdings Corp | 88 | |||||||
| 60,301 | Select Medical Holdings Corp | 1,424 | ||||||||
| 81,063 | * | Sema4 Holdings Corp | 102 | |||||||
| 226,696 | *,e | Senseonics Holdings, Inc | 234 | |||||||
| 18,412 | * | Shockwave Medical Inc | 3,520 | |||||||
| 17,531 | * | SI-BONE, Inc | 231 | |||||||
| 34,185 | *,e | Signify Health, Inc | 472 | |||||||
| 18,916 | * | Silk Road Medical Inc | 688 | |||||||
| 7,680 | Simulations Plus, Inc | 379 | ||||||||
| 26,141 | * | Staar Surgical Co | 1,854 | |||||||
| 44,088 | STERIS plc | 9,089 | ||||||||
| 181,121 | Stryker Corp | 36,030 | ||||||||
| 17,295 | * | Surgery Partners, Inc | 500 | |||||||
| 10,275 | * | SurModics, Inc | 383 | |||||||
| 10,460 | * | Tactile Systems Technology, Inc | 76 | |||||||
| 35,006 | * | Tandem Diabetes Care, Inc | 2,072 | |||||||
| 80,556 | *,e | Teladoc, Inc | 2,675 | |||||||
| 23,691 | Teleflex, Inc | 5,824 | ||||||||
| 53,386 | * | Tenet Healthcare Corp | 2,806 | |||||||
| 11,786 | * | Transmedics Group, Inc | 371 | |||||||
| 5,968 | * | Treace Medical Concepts, Inc | 86 | |||||||
| 4,630 | * | UFP Technologies, Inc | 368 | |||||||
| 481,840 | UnitedHealth Group, Inc | 247,487 | ||||||||
| 33,482 | Universal Health Services, Inc (Class B) | 3,372 | ||||||||
| 6,975 | e | US Physical Therapy, Inc | 762 | |||||||
| 2,349 | Utah Medical Products, Inc | 202 | ||||||||
| 279 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 27,229 | * | Varex Imaging Corp | $ | 582 | ||||||
| 71,525 | * | Veeva Systems, Inc | 14,165 | |||||||
| 27,942 | * | Vicarious Surgical, Inc | 82 | |||||||
| 74,317 | * | ViewRay, Inc | 197 | |||||||
| 109,479 | Zimmer Biomet Holdings, Inc | 11,502 | ||||||||
| 11,472 | * | Zimvie, Inc | 184 | |||||||
| 10,840 | e | Zynex Inc | 87 | |||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 1,183,175 | |||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 1.6% | ||||||||||
| 46,991 | * | Beauty Health Co | 604 | |||||||
| 66,090 | * | BellRing Brands, Inc | 1,645 | |||||||
| 7,431 | * | Central Garden & Pet Co | 315 | |||||||
| 22,079 | * | Central Garden and Pet Co (Class A) | 883 | |||||||
| 125,208 | Church & Dwight Co, Inc | 11,602 | ||||||||
| 65,460 | Clorox Co | 9,229 | ||||||||
| 425,625 | Colgate-Palmolive Co | 34,110 | ||||||||
| 159,439 | * | Coty, Inc | 1,277 | |||||||
| 29,639 | Edgewell Personal Care Co | 1,023 | ||||||||
| 24,917 | * | elf Beauty, Inc | 764 | |||||||
| 34,187 | Energizer Holdings, Inc | 969 | ||||||||
| 118,506 | Estee Lauder Cos (Class A) | 30,180 | ||||||||
| 58,982 | * | Herbalife Nutrition Ltd | 1,206 | |||||||
| 13,542 | * | Honest Co, Inc | 40 | |||||||
| 12,258 | Inter Parfums, Inc | 896 | ||||||||
| 171,298 | Kimberly-Clark Corp | 23,151 | ||||||||
| 6,191 | Medifast, Inc | 1,117 | ||||||||
| 5,868 | * | Nature’s Sunshine Products, Inc | 63 | |||||||
| 27,121 | Nu Skin Enterprises, Inc (Class A) | 1,174 | ||||||||
| 43,357 | *,e | Olaplex Holdings, Inc | 611 | |||||||
| 1,229,953 | Procter & Gamble Co | 176,855 | ||||||||
| 28,002 | Reynolds Consumer Products, Inc | 764 | ||||||||
| 21,541 | Spectrum Brands Holdings, Inc | 1,767 | ||||||||
| 8,349 | * | USANA Health Sciences, Inc | 604 | |||||||
| 30,185 | *,e | Veru, Inc | 341 | |||||||
| 7,178 | e | WD-40 Co | 1,445 | |||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS | 302,635 | |||||||||
| INSURANCE - 2.3% | ||||||||||
| 326,877 | Aflac, Inc | 18,086 | ||||||||
| 6,355 | * | Alleghany Corp | 5,294 | |||||||
| 140,989 | Allstate Corp | 17,868 | ||||||||
| 32,424 | * | AMBAC Financial Group, Inc | 368 | |||||||
| 46,586 | American Equity Investment Life Holding Co | 1,704 | ||||||||
| 34,605 | American Financial Group, Inc | 4,804 | ||||||||
| 409,020 | American International Group, Inc | 20,913 | ||||||||
| 13,468 | Amerisafe, Inc | 700 | ||||||||
| 108,608 | Aon plc | 29,289 | ||||||||
| 184,638 | * | Arch Capital Group Ltd | 8,399 | |||||||
| 17,301 | Argo Group International Holdings Ltd | 638 | ||||||||
| 107,338 | Arthur J. Gallagher & Co | 17,500 | ||||||||
| 27,795 | Assurant, Inc | 4,804 | ||||||||
| 36,683 | Assured Guaranty Ltd | 2,047 | ||||||||
| 40,126 | Axis Capital Holdings Ltd | 2,291 | ||||||||
| 280 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 28,604 | *,e | Bright Health Group, Inc | $ | 52 | ||||||
| 38,430 | * | Brighthouse Financial, Inc | 1,576 | |||||||
| 121,934 | Brown & Brown, Inc | 7,114 | ||||||||
| 25,189 | * | BRP Group, Inc | 608 | |||||||
| 217,704 | Chubb Ltd | 42,796 | ||||||||
| 79,605 | Cincinnati Financial Corp | 9,471 | ||||||||
| 14,067 | CNA Financial Corp | 632 | ||||||||
| 66,761 | Conseco, Inc | 1,208 | ||||||||
| 7,812 | Donegal Group, Inc (Class A) | 133 | ||||||||
| 15,165 | * | eHealth, Inc | 142 | |||||||
| 6,714 | Employers Holdings, Inc | 281 | ||||||||
| 4,741 | * | Enstar Group Ltd | 1,015 | |||||||
| 13,782 | Erie Indemnity Co (Class A) | 2,649 | ||||||||
| 18,999 | Everest Re Group Ltd | 5,325 | ||||||||
| 143,159 | Fidelity National Financial Inc | 5,291 | ||||||||
| 52,851 | First American Financial Corp | 2,797 | ||||||||
| 184,221 | * | Genworth Financial, Inc (Class A) | 650 | |||||||
| 46,672 | Globe Life, Inc | 4,549 | ||||||||
| 9,663 | Goosehead Insurance, Inc | 441 | ||||||||
| 20,683 | * | Greenlight Capital Re Ltd (Class A) | 160 | |||||||
| 17,079 | Hanover Insurance Group, Inc | 2,498 | ||||||||
| 167,668 | Hartford Financial Services Group, Inc | 10,971 | ||||||||
| 3,092 | e | HCI Group, Inc | 210 | |||||||
| 130,494 | * | Hippo Holdings, Inc | 115 | |||||||
| 22,775 | Horace Mann Educators Corp | 874 | ||||||||
| 1,119 | Investors Title Co | 176 | ||||||||
| 19,526 | James River Group Holdings Ltd | 484 | ||||||||
| 33,482 | Kemper Corp | 1,604 | ||||||||
| 10,502 | Kinsale Capital Group, Inc | 2,412 | ||||||||
| 20,988 | *,e | Lemonade, Inc | 383 | |||||||
| 95,447 | Lincoln National Corp | 4,464 | ||||||||
| 102,146 | Loews Corp | 6,053 | ||||||||
| 6,672 | * | Markel Corp | 8,629 | |||||||
| 255,005 | Marsh & McLennan Cos, Inc | 39,590 | ||||||||
| 26,174 | * | MBIA, Inc | 323 | |||||||
| 12,675 | Mercury General Corp | 562 | ||||||||
| 353,995 | Metlife, Inc | 22,227 | ||||||||
| 1,551 | National Western Life Group, Inc | 314 | ||||||||
| 7,308 | * | NI Holdings, Inc | 120 | |||||||
| 135,376 | Old Republic International Corp | 3,027 | ||||||||
| 60,575 | * | Oscar Health, Inc | 257 | |||||||
| 13,408 | * | Palomar Holdings, Inc | 863 | |||||||
| 21,522 | Primerica, Inc | 2,576 | ||||||||
| 134,319 | Principal Financial Group | 8,971 | ||||||||
| 37,307 | ProAssurance Corp | 882 | ||||||||
| 300,976 | Progressive Corp | 34,995 | ||||||||
| 193,606 | Prudential Financial, Inc | 18,524 | ||||||||
| 34,463 | Reinsurance Group of America, Inc (Class A) | 4,042 | ||||||||
| 21,969 | RenaissanceRe Holdings Ltd | 3,435 | ||||||||
| 20,019 | RLI Corp | 2,334 | ||||||||
| 42,415 | * | Ryan Specialty Group Holdings, Inc | 1,662 | |||||||
| 4,020 | Safety Insurance Group, Inc | 390 | ||||||||
| 32,431 | Selective Insurance Group, Inc | 2,820 | ||||||||
| 73,128 | * | Selectquote, Inc | 181 | |||||||
| 281 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 8,398 | * | SiriusPoint Ltd | $ | 46 | ||||||
| 15,315 | Stewart Information Services Corp | 762 | ||||||||
| 22,143 | Tiptree Inc | 235 | ||||||||
| 123,322 | Travelers Cos, Inc | 20,857 | ||||||||
| 20,838 | *,e | Trupanion, Inc | 1,256 | |||||||
| 16,104 | United Fire Group Inc | 551 | ||||||||
| 22,402 | Universal Insurance Holdings, Inc | 292 | ||||||||
| 99,041 | Unum Group | 3,369 | ||||||||
| 101,609 | W.R. Berkley Corp | 6,936 | ||||||||
| 1,751 | White Mountains Insurance Group Ltd | 2,182 | ||||||||
| 57,202 | Willis Towers Watson plc | 11,291 | ||||||||
| TOTAL INSURANCE | 456,340 | |||||||||
| MATERIALS - 2.9% | ||||||||||
| 16,560 | * | 5E Advanced Materials, Inc | 202 | |||||||
| 14,906 | AdvanSix, Inc | 498 | ||||||||
| 114,861 | Air Products & Chemicals, Inc | 27,622 | ||||||||
| 59,463 | Albemarle Corp | 12,427 | ||||||||
| 99,055 | Alcoa Corp | 4,515 | ||||||||
| 78,013 | *,e | Allegheny Technologies, Inc | 1,772 | |||||||
| 9,169 | Alpha Metallurgical Resources, Inc | 1,184 | ||||||||
| 726,379 | Amcor plc | 9,029 | ||||||||
| 20,501 | American Vanguard Corp | 458 | ||||||||
| 36,073 | Aptargroup, Inc | 3,723 | ||||||||
| 57,334 | * | Arconic Corp | 1,608 | |||||||
| 13,288 | † | Ardagh Group S.A. | 203 | |||||||
| 74,922 | Ardagh Metal Packaging S.A. | 457 | ||||||||
| 26,123 | Ashland Global Holdings, Inc | 2,692 | ||||||||
| 11,564 | * | Aspen Aerogels, Inc | 114 | |||||||
| 42,820 | Avery Dennison Corp | 6,931 | ||||||||
| 49,682 | Avient Corp | 1,991 | ||||||||
| 113,646 | * | Axalta Coating Systems Ltd | 2,513 | |||||||
| 15,070 | Balchem Corp | 1,955 | ||||||||
| 164,015 | Ball Corp | 11,279 | ||||||||
| 65,784 | * | Berry Global Group, Inc | 3,594 | |||||||
| 31,457 | Cabot Corp | 2,007 | ||||||||
| 25,997 | Carpenter Technology Corp | 726 | ||||||||
| 55,597 | Celanese Corp (Series A) | 6,539 | ||||||||
| 12,437 | * | Century Aluminum Co | 92 | |||||||
| 110,041 | CF Industries Holdings, Inc | 9,434 | ||||||||
| 5,158 | Chase Corp | 401 | ||||||||
| 78,774 | Chemours Co | 2,522 | ||||||||
| 11,678 | * | Clearwater Paper Corp | 393 | |||||||
| 267,350 | * | Cleveland-Cliffs, Inc | 4,109 | |||||||
| 119,550 | * | Coeur Mining, Inc | 363 | |||||||
| 53,154 | Commercial Metals Co | 1,759 | ||||||||
| 20,319 | Compass Minerals International, Inc | 719 | ||||||||
| 66,991 | * | Constellium SE | 885 | |||||||
| 374,291 | Corteva, Inc | 20,264 | ||||||||
| 61,692 | Crown Holdings, Inc | 5,686 | ||||||||
| 36,022 | *,e | Danimer Scientific, Inc | 164 | |||||||
| 28,159 | * | Diversey Holdings Ltd | 186 | |||||||
| 375,972 | Dow, Inc | 19,404 | ||||||||
| 267,657 | DuPont de Nemours, Inc | 14,876 | ||||||||
| 282 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 22,586 | Eagle Materials, Inc | $ | 2,483 | |||||||
| 66,255 | Eastman Chemical Co | 5,948 | ||||||||
| 129,229 | Ecolab, Inc | 19,870 | ||||||||
| 127,079 | Element Solutions, Inc | 2,262 | ||||||||
| 47,286 | *,† | Ferroglobe plc | 0 | |||||||
| 67,073 | FMC Corp | 7,177 | ||||||||
| 753,101 | Freeport-McMoRan, Inc (Class B) | 22,036 | ||||||||
| 17,819 | FutureFuel Corp | 130 | ||||||||
| 23,656 | * | GCP Applied Technologies, Inc | 740 | |||||||
| 423,235 | *,e | Ginkgo Bioworks Holdings, Inc | 1,007 | |||||||
| 32,454 | Glatfelter Corp | 223 | ||||||||
| 145,764 | Graphic Packaging Holding Co | 2,988 | ||||||||
| 14,075 | Greif, Inc (Class A) | 878 | ||||||||
| 3,993 | Greif, Inc (Class B) | 249 | ||||||||
| 22,652 | H.B. Fuller Co | 1,364 | ||||||||
| 15,846 | Hawkins, Inc | 571 | ||||||||
| 9,402 | Haynes International, Inc | 308 | ||||||||
| 290,099 | Hecla Mining Co | 1,137 | ||||||||
| 104,824 | Huntsman Corp | 2,972 | ||||||||
| 77,853 | *,e | Hycroft Mining Holding Corp | 86 | |||||||
| 21,966 | * | Ingevity Corp | 1,387 | |||||||
| 11,273 | Innospec, Inc | 1,080 | ||||||||
| 133,564 | International Flavors & Fragrances, Inc | 15,910 | ||||||||
| 188,466 | International Paper Co | 7,884 | ||||||||
| 6,735 | * | Intrepid Potash, Inc | 305 | |||||||
| 8,625 | Kaiser Aluminum Corp | 682 | ||||||||
| 15,231 | Koppers Holdings, Inc | 345 | ||||||||
| 14,288 | Kronos Worldwide, Inc | 263 | ||||||||
| 257,387 | Linde plc | 74,007 | ||||||||
| 80,227 | *,e | Livent Corp | 1,820 | |||||||
| 40,741 | Louisiana-Pacific Corp | 2,135 | ||||||||
| 16,250 | * | LSB Industries, Inc | 225 | |||||||
| 129,559 | LyondellBasell Industries NV | 11,331 | ||||||||
| 31,591 | Martin Marietta Materials, Inc | 9,453 | ||||||||
| 11,119 | Materion Corp | 820 | ||||||||
| 12,674 | Minerals Technologies, Inc | 777 | ||||||||
| 186,754 | Mosaic Co | 8,820 | ||||||||
| 39,809 | *,e | MP Materials Corp | 1,277 | |||||||
| 18,118 | Myers Industries, Inc | 412 | ||||||||
| 10,909 | Neenah Inc | 372 | ||||||||
| 2,137 | NewMarket Corp | 643 | ||||||||
| 410,068 | Newmont Goldcorp Corp | 24,469 | ||||||||
| 149,512 | * | Novagold Resources Inc | 719 | |||||||
| 137,160 | Nucor Corp | 14,321 | ||||||||
| 90,414 | * | O-I Glass, Inc | 1,266 | |||||||
| 62,167 | Olin Corp | 2,877 | ||||||||
| 6,559 | Olympic Steel, Inc | 169 | ||||||||
| 54,529 | * | Origin Materials, Inc | 279 | |||||||
| 38,461 | Orion Engineered Carbons SA | 597 | ||||||||
| 45,269 | Packaging Corp of America | 6,225 | ||||||||
| 22,477 | Pactiv Evergreen, Inc | 224 | ||||||||
| 62,456 | *,e | Perimeter Solutions S.A. | 677 | |||||||
| 8,901 | * | Piedmont Lithium, Inc | 324 | |||||||
| 123,672 | PPG Industries, Inc | 14,141 | ||||||||
| 283 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 20,162 | PQ Group Holdings, Inc | $ | 199 | |||||||
| 17,967 | *,e | PureCycle Technologies, Inc | 133 | |||||||
| 7,360 | e | Quaker Chemical Corp | 1,100 | |||||||
| 11,495 | Ramaco Resources, Inc | 151 | ||||||||
| 16,208 | * | Ranpak Holdings Corp | 113 | |||||||
| 31,957 | * | Rayonier Advanced Materials, Inc | 84 | |||||||
| 28,345 | Reliance Steel & Aluminum Co | 4,815 | ||||||||
| 23,550 | * | Resolute Forest Products | 301 | |||||||
| 32,757 | Royal Gold, Inc | 3,498 | ||||||||
| 63,937 | RPM International, Inc | 5,033 | ||||||||
| 8,418 | Ryerson Holding Corp | 179 | ||||||||
| 14,147 | Schnitzer Steel Industries, Inc (Class A) | 465 | ||||||||
| 20,766 | Schweitzer-Mauduit International, Inc | 522 | ||||||||
| 22,512 | Scotts Miracle-Gro Co (Class A) | 1,778 | ||||||||
| 70,338 | Sealed Air Corp | 4,060 | ||||||||
| 18,559 | Sensient Technologies Corp | 1,495 | ||||||||
| 124,770 | Sherwin-Williams Co | 27,937 | ||||||||
| 43,363 | Silgan Holdings, Inc | 1,793 | ||||||||
| 48,557 | Sonoco Products Co | 2,770 | ||||||||
| 46,247 | Southern Copper Corp | 2,304 | ||||||||
| 109,335 | SSR Mining, Inc | 1,826 | ||||||||
| 83,444 | Steel Dynamics, Inc | 5,520 | ||||||||
| 8,132 | Stepan Co | 824 | ||||||||
| 64,023 | * | Summit Materials, Inc | 1,491 | |||||||
| 48,451 | SunCoke Energy, Inc | 330 | ||||||||
| 18,201 | Sylvamo Corp | 595 | ||||||||
| 29,755 | * | TimkenSteel Corp | 557 | |||||||
| 19,671 | e | Tredegar Corp | 197 | |||||||
| 23,586 | Trimas Corp | 653 | ||||||||
| 23,427 | Trinseo plc | 901 | ||||||||
| 62,538 | Tronox Holdings plc | 1,051 | ||||||||
| 1,357 | United States Lime & Minerals, Inc | 143 | ||||||||
| 123,966 | United States Steel Corp | 2,220 | ||||||||
| 99,474 | Valvoline, Inc | 2,868 | ||||||||
| 70,046 | Vulcan Materials Co | 9,954 | ||||||||
| 28,082 | Warrior Met Coal, Inc | 860 | ||||||||
| 14,533 | Westlake Chemical Corp | 1,425 | ||||||||
| 130,721 | WestRock Co | 5,208 | ||||||||
| 18,895 | Worthington Industries, Inc | 833 | ||||||||
| TOTAL MATERIALS | 560,147 | |||||||||
| MEDIA & ENTERTAINMENT - 6.8% | ||||||||||
| 400,259 | Activision Blizzard, Inc | 31,164 | ||||||||
| 41,683 | *,e | Advantage Solutions, Inc | 158 | |||||||
| 155,040 | * | Alphabet, Inc (Class A) | 337,872 | |||||||
| 141,572 | * | Alphabet, Inc (Class C) | 309,682 | |||||||
| 112,426 | * | Altice USA, Inc | 1,040 | |||||||
| 239,852 | *,e | AMC Entertainment Holdings, Inc | 3,250 | |||||||
| 16,067 | * | AMC Networks, Inc | 468 | |||||||
| 7,354 | * | Boston Omaha Corp | 152 | |||||||
| 3,042 | Cable One, Inc | 3,922 | ||||||||
| 17,446 | * | Cardlytics, Inc | 389 | |||||||
| 51,402 | * | Cargurus, Inc | 1,105 | |||||||
| 37,344 | * | Cars.com, Inc | 352 | |||||||
| 284 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 59,693 | * | Charter Communications, Inc | $ | 27,968 | ||||||
| 58,982 | * | Cinemark Holdings, Inc | 886 | |||||||
| 198,206 | * | Clear Channel | 212 | |||||||
| 2,296,218 | Comcast Corp (Class A) | 90,104 | ||||||||
| 772 | * | Daily Journal Corp | 200 | |||||||
| 22,415 | * | DHI Group, Inc | 111 | |||||||
| 136,485 | * | DISH Network Corp (Class A) | 2,447 | |||||||
| 144,079 | Electronic Arts, Inc | 17,527 | ||||||||
| 88,350 | * | Entercom Communications Corp | 83 | |||||||
| 50,932 | Entravision Communications Corp (Class A) | 232 | ||||||||
| 40,961 | *,e | Eventbrite Inc | 421 | |||||||
| 8,345 | * | EverQuote Inc | 74 | |||||||
| 31,270 | * | EW Scripps Co (Class A) | 390 | |||||||
| 164,799 | Fox Corp (Class A) | 5,300 | ||||||||
| 72,327 | Fox Corp (Class B) | 2,148 | ||||||||
| 71,756 | *,e | fuboTV, Inc | 177 | |||||||
| 74,491 | * | Gannett Co, Inc | 216 | |||||||
| 46,930 | Gray Television, Inc | 793 | ||||||||
| 42,355 | * | IAC | 3,218 | |||||||
| 61,117 | * | iHeartMedia, Inc | 482 | |||||||
| 27,196 | * | Imax Corp | 459 | |||||||
| 16,911 | * | Integral Ad Science Holding Corp | 168 | |||||||
| 201,354 | Interpublic Group of Cos, Inc | 5,543 | ||||||||
| 23,547 | John Wiley & Sons, Inc (Class A) | 1,125 | ||||||||
| 7,655 | *,e | Liberty Braves Group (Class A) | 193 | |||||||
| 25,374 | * | Liberty Braves Group (Class C) | 609 | |||||||
| 12,929 | Liberty Broadband Corp (Class A) | 1,468 | ||||||||
| 66,509 | * | Liberty Broadband Corp (Class C) | 7,691 | |||||||
| 6,884 | * | Liberty Media Group (Class A) | 399 | |||||||
| 100,858 | * | Liberty Media Group (Class C) | 6,401 | |||||||
| 34,936 | Liberty SiriusXM Group (Class A) | 1,259 | ||||||||
| 80,096 | * | Liberty SiriusXM Group (Class C) | 2,887 | |||||||
| 37,150 | * | Lions Gate Entertainment Corp (Class A) | 346 | |||||||
| 71,817 | * | Lions Gate Entertainment Corp (Class B) | 634 | |||||||
| 79,453 | * | Live Nation, Inc | 6,561 | |||||||
| 10,365 | * | Madison Square Garden Co | 1,565 | |||||||
| 13,156 | * | Madison Square Garden Entertainment Corp | 692 | |||||||
| 61,168 | * | Magnite, Inc | 543 | |||||||
| 14,211 | *,e | Marcus Corp | 210 | |||||||
| 148,269 | * | Match Group, Inc | 10,333 | |||||||
| 11,302 | * | MediaAlpha, Inc | 111 | |||||||
| 1,183,999 | * | Meta Platforms, Inc | 190,920 | |||||||
| 13,129 | *,e | NerdWallet, Inc | 104 | |||||||
| 224,834 | * | Netflix, Inc | 39,317 | |||||||
| 89,935 | New York Times Co (Class A) | 2,509 | ||||||||
| 213,357 | News Corp (Class A) | 3,324 | ||||||||
| 66,535 | News Corp (Class B) | 1,057 | ||||||||
| 20,043 | Nexstar Media Group Inc | 3,265 | ||||||||
| 104,952 | Omnicom Group, Inc | 6,676 | ||||||||
| 20,470 | *,e | Outbrain, Inc | 103 | |||||||
| 300,393 | * | Pinterest, Inc | 5,455 | |||||||
| 40,614 | * | Playstudios, Inc | 174 | |||||||
| 42,908 | * | Playtika Holding Corp | 568 | |||||||
| 21,386 | *,e | PubMatic, Inc | 340 | |||||||
| 285 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 20,643 | * | QuinStreet, Inc | $ | 208 | ||||||
| 227,072 | * | ROBLOX Corp | 7,462 | |||||||
| 63,324 | * | Roku, Inc | 5,201 | |||||||
| 19,984 | Scholastic Corp | 719 | ||||||||
| 25,063 | Sinclair Broadcast Group, Inc (Class A) | 511 | ||||||||
| 412,799 | e | Sirius XM Holdings, Inc | 2,530 | |||||||
| 161,762 | *,e | Skillz, Inc | 201 | |||||||
| 72,151 | * | Spotify Technology S.A. | 6,770 | |||||||
| 33,238 | * | Stagwell, Inc | 181 | |||||||
| 81,955 | * | Take-Two Interactive Software, Inc | 10,042 | |||||||
| 12,153 | * | TechTarget, Inc | 799 | |||||||
| 114,227 | TEGNA, Inc | 2,395 | ||||||||
| 13,027 | * | Thryv Holdings, Inc | 292 | |||||||
| 56,597 | * | TripAdvisor, Inc | 1,007 | |||||||
| 44,667 | * | TrueCar, Inc | 116 | |||||||
| 384,858 | * | Twitter, Inc | 14,390 | |||||||
| 4,594 | e | ViacomCBS, Inc (Class A) | 125 | |||||||
| 305,131 | e | ViacomCBS, Inc (Class B) | 7,531 | |||||||
| 68,763 | * | Vimeo, Inc | 414 | |||||||
| 940,845 | * | Walt Disney Co | 88,816 | |||||||
| 1,217,041 | * | Warner Bros Discovery, Inc | 16,333 | |||||||
| 28,599 | * | WideOpenWest, Inc | 521 | |||||||
| 18,467 | e | World Wrestling Entertainment, Inc (Class A) | 1,154 | |||||||
| 41,665 | * | Yelp, Inc | 1,157 | |||||||
| 23,417 | * | Ziff Davis Inc | 1,745 | |||||||
| 40,960 | * | ZipRecruiter, Inc | 607 | |||||||
| 141,765 | * | ZoomInfo Technologies, Inc | 4,712 | |||||||
| TOTAL MEDIA & ENTERTAINMENT | 1,321,491 | |||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.7% | ||||||||||
| 45,940 | * | 10X Genomics, Inc | 2,079 | |||||||
| 11,229 | *,e | 2seventy bio, Inc | 148 | |||||||
| 11,292 | *,e | 4D Molecular Therapeutics, Inc | 79 | |||||||
| 912,597 | AbbVie, Inc | 139,773 | ||||||||
| 106,154 | *,e | AbCellera Biologics, Inc | 1,131 | |||||||
| 29,156 | * | Absci Corp | 97 | |||||||
| 70,913 | * | Acadia Pharmaceuticals, Inc | 999 | |||||||
| 23,691 | * | Aclaris Therapeutics, Inc | 331 | |||||||
| 11,379 | * | Adagio Therapeutics, Inc | 37 | |||||||
| 59,774 | * | Adaptive Biotechnologies Corp | 484 | |||||||
| 14,505 | * | Adicet Bio, Inc | 212 | |||||||
| 95,244 | * | ADMA Biologics, Inc | 189 | |||||||
| 21,807 | *,e | Aerie Pharmaceuticals, Inc | 164 | |||||||
| 43,765 | * | Affimed NV | 121 | |||||||
| 107,560 | * | Agenus, Inc | 209 | |||||||
| 154,688 | Agilent Technologies, Inc | 18,372 | ||||||||
| 34,493 | * | Agios Pharmaceuticals, Inc | 765 | |||||||
| 14,029 | *,e | Akero Therapeutics, Inc | 133 | |||||||
| 6,175 | * | Albireo Pharma, Inc | 123 | |||||||
| 31,429 | * | Alector, Inc | 319 | |||||||
| 87,531 | * | Alkermes plc | 2,608 | |||||||
| 28,864 | *,e | Allogene Therapeutics, Inc | 329 | |||||||
| 10,335 | *,e | Allovir, Inc | 40 | |||||||
| 64,441 | * | Alnylam Pharmaceuticals, Inc | 9,399 | |||||||
| 286 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 9,675 | *,e | ALX Oncology Holdings, Inc | $ | 78 | ||||||
| 275,726 | Amgen, Inc | 67,084 | ||||||||
| 151,298 | * | Amicus Therapeutics, Inc | 1,625 | |||||||
| 53,162 | * | Amneal Pharmaceuticals, Inc | 169 | |||||||
| 25,774 | * | Amphastar Pharmaceuticals, Inc | 897 | |||||||
| 5,884 | * | Amylyx Pharmaceuticals, Inc | 113 | |||||||
| 12,566 | *,e | AnaptysBio, Inc | 255 | |||||||
| 30,524 | *,e | Anavex Life Sciences Corp | 306 | |||||||
| 5,767 | * | ANI Pharmaceuticals, Inc | 171 | |||||||
| 10,943 | *,e | Anika Therapeutics, Inc | 244 | |||||||
| 46,610 | * | Apellis Pharmaceuticals, Inc | 2,108 | |||||||
| 55,373 | *,e | Arbutus Biopharma Corp | 150 | |||||||
| 7,756 | *,e | Arcturus Therapeutics Holdings, Inc | 122 | |||||||
| 20,717 | * | Arcus Biosciences, Inc | 525 | |||||||
| 15,151 | * | Arcutis Biotherapeutics, Inc | 323 | |||||||
| 55,310 | * | Arrowhead Pharmaceuticals Inc | 1,947 | |||||||
| 23,815 | * | Arvinas, Inc | 1,002 | |||||||
| 34,194 | * | Atara Biotherapeutics, Inc | 266 | |||||||
| 35,244 | * | Atea Pharmaceuticals, Inc | 250 | |||||||
| 7,303 | *,e | Athira Pharma, Inc | 22 | |||||||
| 9,389 | *,e | Aura Biosciences, Inc | 133 | |||||||
| 68,772 | * | Aurinia Pharmaceuticals, Inc | 691 | |||||||
| 318,550 | * | Avantor, Inc | 9,907 | |||||||
| 33,858 | *,e | Avid Bioservices, Inc | 517 | |||||||
| 9,645 | *,e | Avidity Biosciences, Inc | 140 | |||||||
| 15,727 | *,e | Axsome Therapeutics, Inc | 602 | |||||||
| 25,636 | *,e | Beam Therapeutics, Inc | 992 | |||||||
| 26,163 | *,e | Berkeley Lights, Inc | 130 | |||||||
| 97,016 | * | BioCryst Pharmaceuticals, Inc | 1,026 | |||||||
| 75,574 | * | Biogen, Inc | 15,413 | |||||||
| 31,934 | * | Biohaven Pharmaceutical Holding Co Ltd | 4,653 | |||||||
| 93,702 | * | BioMarin Pharmaceutical, Inc | 7,765 | |||||||
| 153,496 | *,e | Bionano Genomics, Inc | 212 | |||||||
| 11,654 | * | Bio-Rad Laboratories, Inc (Class A) | 5,769 | |||||||
| 19,592 | Bio-Techne Corp | 6,791 | ||||||||
| 6,302 | *,e | Bioxcel Therapeutics Inc | 83 | |||||||
| 33,689 | * | Bluebird Bio, Inc | 139 | |||||||
| 31,927 | * | Blueprint Medicines Corp | 1,613 | |||||||
| 58,721 | * | Bridgebio Pharma, Inc | 533 | |||||||
| 1,099,704 | Bristol-Myers Squibb Co | 84,677 | ||||||||
| 39,365 | Brooks Automation, Inc | 2,838 | ||||||||
| 56,206 | Bruker BioSciences Corp | 3,527 | ||||||||
| 18,793 | *,e | C4 Therapeutics, Inc | 142 | |||||||
| 19,366 | * | Cara Therapeutics, Inc | 177 | |||||||
| 27,306 | * | CareDx, Inc | 587 | |||||||
| 10,333 | * | Caribou Biosciences, Inc | 56 | |||||||
| 20,876 | * | Cassava Sciences, Inc | 587 | |||||||
| 85,996 | * | Catalent, Inc | 9,227 | |||||||
| 50,782 | * | Catalyst Pharmaceuticals, Inc | 356 | |||||||
| 21,395 | * | Celldex Therapeutics, Inc | 577 | |||||||
| 19,234 | *,e | Cerevel Therapeutics Holdings, Inc | 509 | |||||||
| 27,377 | * | Charles River Laboratories International, Inc | 5,858 | |||||||
| 26,464 | *,e | ChemoCentryx, Inc | 656 | |||||||
| 30,594 | * | Chimerix, Inc | 64 | |||||||
| 287 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 7,917 | * | Chinook Therapeutics, Inc | $ | 138 | ||||||
| 6,864 | * | CinCor Pharma, Inc | 129 | |||||||
| 23,538 | * | Codexis, Inc | 246 | |||||||
| 22,858 | *,e | Cogent Biosciences, Inc | 206 | |||||||
| 27,864 | * | Coherus Biosciences, Inc | 202 | |||||||
| 16,286 | * | Collegium Pharmaceutical, Inc | 289 | |||||||
| 52,750 | * | Corcept Therapeutics, Inc | 1,254 | |||||||
| 16,128 | * | Crinetics Pharmaceuticals, Inc | 301 | |||||||
| 47,472 | * | CTI BioPharma Corp | 283 | |||||||
| 7,345 | *,e | Cullinan Oncology, Inc | 94 | |||||||
| 51,177 | * | Cytek Biosciences, Inc | 549 | |||||||
| 42,716 | *,e | Cytokinetics, Inc | 1,678 | |||||||
| 334,260 | Danaher Corp | 84,742 | ||||||||
| 11,974 | * | Day One Biopharmaceuticals, Inc | 214 | |||||||
| 22,263 | * | Deciphera Pharmaceuticals, Inc | 293 | |||||||
| 49,642 | * | Denali Therapeutics, Inc | 1,461 | |||||||
| 14,200 | * | Design Therapeutics, Inc | 199 | |||||||
| 14,558 | * | DICE Therapeutics, Inc | 226 | |||||||
| 58,823 | *,e | Dynavax Technologies Corp | 741 | |||||||
| 16,387 | *,e | Dyne Therapeutics, Inc | 113 | |||||||
| 6,368 | * | Eagle Pharmaceuticals, Inc | 283 | |||||||
| 20,664 | * | Edgewise Therapeutics, Inc | 164 | |||||||
| 35,681 | *,e | Editas Medicine, Inc | 422 | |||||||
| 14,062 | * | Eiger BioPharmaceuticals, Inc | 89 | |||||||
| 242,401 | * | Elanco Animal Health, Inc | 4,758 | |||||||
| 435,090 | Eli Lilly & Co | 141,069 | ||||||||
| 24,015 | * | Emergent Biosolutions, Inc | 745 | |||||||
| 11,786 | * | Enanta Pharmaceuticals, Inc | 557 | |||||||
| 70,095 | *,e | EQRx, Inc | 329 | |||||||
| 33,527 | *,e | Erasca, Inc | 187 | |||||||
| 33,414 | *,e | Esperion Thereapeutics, Inc | 213 | |||||||
| 17,590 | * | Evolus, Inc | 204 | |||||||
| 93,800 | * | Exact Sciences Corp | 3,695 | |||||||
| 170,031 | * | Exelixis, Inc | 3,540 | |||||||
| 52,399 | *,e | EyePoint Pharmaceuticals, Inc | 412 | |||||||
| 42,216 | *,e | Fate Therapeutics, Inc | 1,046 | |||||||
| 50,667 | * | FibroGen, Inc | 535 | |||||||
| 10,305 | * | Foghorn Therapeutics, Inc | 140 | |||||||
| 17,542 | * | Forma Therapeutics Holdings, Inc | 121 | |||||||
| 14,355 | *,e | Fulcrum Therapeutics, Inc | 70 | |||||||
| 23,909 | * | Generation Bio Co | 157 | |||||||
| 114,325 | *,e | Geron Corp | 177 | |||||||
| 648,183 | Gilead Sciences, Inc | 40,064 | ||||||||
| 36,433 | *,e | Global Blood Therapeutics, Inc | 1,164 | |||||||
| 12,922 | * | Gossamer Bio, Inc | 108 | |||||||
| 68,124 | * | Halozyme Therapeutics, Inc | 2,997 | |||||||
| 12,195 | * | Harmony Biosciences Holdings, Inc | 595 | |||||||
| 52,161 | *,e | Heron Therapeutics, Inc | 146 | |||||||
| 114,482 | * | Horizon Therapeutics Plc | 9,131 | |||||||
| 7,208 | *,e | Icosavax, Inc | 41 | |||||||
| 15,316 | * | Ideaya Biosciences, Inc | 211 | |||||||
| 2,211 | * | IGM Biosciences, Inc | 40 | |||||||
| 81,101 | * | Illumina, Inc | 14,952 | |||||||
| 13,485 | * | Imago Biosciences, Inc | 181 | |||||||
| 288 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 36,493 | *,e | ImmunityBio, Inc | $ | 136 | ||||||
| 106,612 | * | Immunogen, Inc | 480 | |||||||
| 11,380 | *,e | Immunovant, Inc | 44 | |||||||
| 94,070 | * | Incyte Corp | 7,146 | |||||||
| 15,231 | *,e | Inhibrx, Inc | 173 | |||||||
| 34,523 | * | Innoviva, Inc | 510 | |||||||
| 7,067 | * | Inotiv, Inc | 68 | |||||||
| 112,816 | *,e | Inovio Pharmaceuticals, Inc | 195 | |||||||
| 60,247 | * | Insmed, Inc | 1,188 | |||||||
| 28,852 | *,e | Instil Bio, Inc | 133 | |||||||
| 34,856 | * | Intellia Therapeutics, Inc | 1,804 | |||||||
| 12,921 | *,e | Intercept Pharmaceuticals, Inc | 178 | |||||||
| 46,963 | * | Intra-Cellular Therapies, Inc | 2,681 | |||||||
| 79,163 | * | Ionis Pharmaceuticals, Inc | 2,931 | |||||||
| 74,052 | * | Iovance Biotherapeutics, Inc | 818 | |||||||
| 98,330 | * | IQVIA Holdings, Inc | 21,337 | |||||||
| 95,014 | * | Ironwood Pharmaceuticals, Inc | 1,096 | |||||||
| 11,046 | * | iTeos Therapeutics, Inc | 228 | |||||||
| 56,231 | * | IVERIC bio, Inc | 541 | |||||||
| 8,802 | *,e | Janux Therapeutics, Inc | 107 | |||||||
| 32,370 | * | Jazz Pharmaceuticals plc | 5,050 | |||||||
| 1,355,645 | Johnson & Johnson | 240,641 | ||||||||
| 4,482 | * | Jounce Therapeutics, Inc | 14 | |||||||
| 10,666 | * | KalVista Pharmaceuticals Inc | 105 | |||||||
| 12,114 | * | Karuna Therapeutics, Inc | 1,533 | |||||||
| 46,110 | *,e | Karyopharm Therapeutics, Inc | 208 | |||||||
| 8,516 | * | Keros Therapeutics, Inc | 235 | |||||||
| 18,676 | * | Kezar Life Sciences, Inc | 154 | |||||||
| 11,321 | * | Kiniksa Pharmaceuticals Ltd | 110 | |||||||
| 7,565 | *,e | Kinnate Biopharma, Inc | 95 | |||||||
| 18,276 | * | Kodiak Sciences, Inc | 140 | |||||||
| 21,178 | * | Kronos Bio, Inc | 77 | |||||||
| 9,785 | * | Krystal Biotech Inc | 642 | |||||||
| 31,598 | * | Kura Oncology, Inc | 579 | |||||||
| 15,771 | *,e | Kymera Therapeutics, Inc | 311 | |||||||
| 30,110 | *,e | Lexicon Pharmaceuticals, Inc | 56 | |||||||
| 8,586 | * | Ligand Pharmaceuticals, Inc (Class B) | 766 | |||||||
| 24,455 | * | Liquidia Corp | 107 | |||||||
| 77,816 | *,e | Lyell Immunopharma, Inc | 507 | |||||||
| 32,187 | * | MacroGenics, Inc | 95 | |||||||
| 6,193 | * | Madrigal Pharmaceuticals, Inc | 443 | |||||||
| 94,899 | *,e | MannKind Corp | 362 | |||||||
| 54,984 | * | Maravai LifeSciences Holdings, Inc | 1,562 | |||||||
| 51,230 | *,e | MaxCyte, Inc | 242 | |||||||
| 15,823 | * | Medpace Holdings, Inc | 2,368 | |||||||
| 10,086 | * | MeiraGTx Holdings plc | 76 | |||||||
| 1,306,254 | Merck & Co, Inc | 119,091 | ||||||||
| 27,294 | * | Mersana Therapeutics, Inc | 126 | |||||||
| 11,568 | * | Mettler-Toledo International, Inc | 13,289 | |||||||
| 60,615 | *,e | MiMedx Group, Inc | 210 | |||||||
| 21,876 | * | Mirati Therapeutics, Inc | 1,469 | |||||||
| 8,147 | *,e | Mirum Pharmaceuticals, Inc | 159 | |||||||
| 175,148 | * | Moderna, Inc | 25,020 | |||||||
| 14,704 | * | Monte Rosa Therapeutics, Inc | 142 | |||||||
| 289 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 8,159 | * | Morphic Holding, Inc | $ | 177 | ||||||
| 46,607 | * | Myriad Genetics, Inc | 847 | |||||||
| 22,499 | * | NanoString Technologies, Inc | 286 | |||||||
| 42,988 | * | Natera, Inc | 1,523 | |||||||
| 106,507 | *,e | Nektar Therapeutics | 405 | |||||||
| 58,635 | * | NeoGenomics, Inc | 478 | |||||||
| 51,383 | * | Neurocrine Biosciences, Inc | 5,009 | |||||||
| 15,360 | * | NGM Biopharmaceuticals Inc | 197 | |||||||
| 9,374 | * | Nkarta, Inc | 115 | |||||||
| 40,572 | *,e | Novavax, Inc | 2,087 | |||||||
| 17,085 | * | Nurix Therapeutics, Inc | 216 | |||||||
| 35,946 | *,e | Nuvation Bio, Inc | 116 | |||||||
| 100,765 | *,e | Ocugen, Inc | 229 | |||||||
| 41,830 | * | Ocular Therapeutix, Inc | 168 | |||||||
| 13,691 | * | Organogenesis Holdings Inc | 67 | |||||||
| 127,492 | Organon & Co | 4,303 | ||||||||
| 333,993 | *,e | Outlook Therapeutics, Inc | 341 | |||||||
| 100,456 | *,e | Pacific Biosciences of California, Inc | 444 | |||||||
| 23,821 | * | Pacira BioSciences Inc | 1,389 | |||||||
| 65,063 | PerkinElmer, Inc | 9,253 | ||||||||
| 69,259 | Perrigo Co plc | 2,810 | ||||||||
| 2,912,669 | Pfizer, Inc | 152,711 | ||||||||
| 6,396 | *,e | Phathom Pharmaceuticals, Inc | 54 | |||||||
| 12,927 | Phibro Animal Health Corp | 247 | ||||||||
| 14,315 | *,e | PMV Pharmaceuticals, Inc | 204 | |||||||
| 37,958 | *,e | Point Biopharma Global, Inc | 258 | |||||||
| 48,133 | * | Praxis Precision Medicines, Inc | 118 | |||||||
| 39,456 | *,e | Precigen, Inc | 53 | |||||||
| 27,333 | * | Prestige Consumer Healthcare, Inc. | 1,607 | |||||||
| 51,583 | *,† | Progenics Pharmaceuticals, Inc | 0 | |||||||
| 15,994 | * | Prometheus Biosciences, Inc | 452 | |||||||
| 22,557 | * | Protagonist Therapeutics, Inc | 178 | |||||||
| 18,603 | * | Prothena Corp plc | 505 | |||||||
| 25,243 | *,e | Provention Bio, Inc | 101 | |||||||
| 37,990 | * | PTC Therapeutics, Inc | 1,522 | |||||||
| 114,179 | * | QIAGEN NV | 5,389 | |||||||
| 16,838 | * | Quanterix Corp | 273 | |||||||
| 46,832 | *,e | Quantum-Si, Inc | 109 | |||||||
| 27,010 | * | Radius Health, Inc | 280 | |||||||
| 6,533 | *,e | RAPT Therapeutics, Inc | 119 | |||||||
| 14,987 | *,e | Reata Pharmaceuticals, Inc | 455 | |||||||
| 61,485 | * | Recursion Pharmaceuticals, Inc | 500 | |||||||
| 53,064 | * | Regeneron Pharmaceuticals, Inc | 31,368 | |||||||
| 19,715 | * | REGENXBIO, Inc | 487 | |||||||
| 31,945 | *,e | Relay Therapeutics, Inc | 535 | |||||||
| 8,368 | * | Relmada Therapeutics, Inc | 159 | |||||||
| 30,248 | * | Repligen Corp | 4,912 | |||||||
| 10,254 | * | Replimune Group, Inc | 179 | |||||||
| 33,815 | * | Revance Therapeutics, Inc | 467 | |||||||
| 32,407 | * | REVOLUTION Medicines, Inc | 632 | |||||||
| 86,450 | * | Rigel Pharmaceuticals, Inc | 98 | |||||||
| 20,281 | * | Rocket Pharmaceuticals, Inc | 279 | |||||||
| 189,332 | Royalty Pharma plc | 7,960 | ||||||||
| 28,225 | * | Sage Therapeutics, Inc | 912 | |||||||
| 290 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 46,510 | *,e | Sana Biotechnology, Inc | $ | 299 | ||||||
| 52,234 | * | Sangamo Therapeutics Inc | 216 | |||||||
| 41,917 | * | Sarepta Therapeutics, Inc | 3,142 | |||||||
| 31,930 | *,e | Science 37 Holdings, Inc | 64 | |||||||
| 68,787 | * | Seagen, Inc | 12,171 | |||||||
| 22,417 | * | Seer, Inc | 201 | |||||||
| 37,976 | * | Seres Therapeutics, Inc | 130 | |||||||
| 7,593 | * | Sierra Oncology, Inc | 418 | |||||||
| 35,191 | e | SIGA Technologies, Inc | 408 | |||||||
| 76,705 | * | SomaLogic, Inc | 347 | |||||||
| 127,563 | *,e | Sorrento Therapeutics, Inc | 256 | |||||||
| 43,033 | * | Sotera Health Co | 843 | |||||||
| 15,930 | *,e | SpringWorks Therapeutics, Inc | 392 | |||||||
| 10,464 | * | Stoke Therapeutics, Inc | 138 | |||||||
| 26,807 | * | Supernus Pharmaceuticals, Inc | 775 | |||||||
| 15,843 | * | Sutro Biopharma, Inc | 83 | |||||||
| 24,529 | * | Syndax Pharmaceuticals, Inc | 472 | |||||||
| 55,220 | * | Syneos Health, Inc | 3,958 | |||||||
| 23,918 | * | Tango Therapeutics, Inc | 108 | |||||||
| 9,396 | * | Tarsus Pharmaceuticals, Inc | 137 | |||||||
| 69,942 | * | TG Therapeutics, Inc | 297 | |||||||
| 29,259 | * | Theravance Biopharma, Inc | 265 | |||||||
| 202,038 | Thermo Fisher Scientific, Inc | 109,763 | ||||||||
| 25,726 | * | Travere Therapeutics, Inc | 623 | |||||||
| 17,071 | * | Tricida, Inc | 165 | |||||||
| 25,134 | * | Turning Point Therapeutics Inc | 1,891 | |||||||
| 26,284 | * | Twist Bioscience Corp | 919 | |||||||
| 33,751 | * | Ultragenyx Pharmaceutical, Inc | 2,014 | |||||||
| 22,243 | * | United Therapeutics Corp | 5,241 | |||||||
| 31,395 | * | Vanda Pharmaceuticals, Inc | 342 | |||||||
| 65,175 | *,e | Vaxart Inc | 228 | |||||||
| 21,774 | * | Vaxcyte, Inc | 474 | |||||||
| 102,172 | * | VBI Vaccines, Inc | 83 | |||||||
| 11,485 | *,e | Ventyx Biosciences, Inc | 140 | |||||||
| 29,297 | *,e | Vera Therapeutics, Inc | 399 | |||||||
| 36,815 | * | Veracyte, Inc | 733 | |||||||
| 24,994 | * | Vericel Corp | 629 | |||||||
| 132,191 | * | Vertex Pharmaceuticals, Inc | 37,250 | |||||||
| 8,512 | *,e | Verve Therapeutics, Inc | 130 | |||||||
| 88,085 | *,e | VG Acquisition Corp | 218 | |||||||
| 596,044 | Viatris, Inc | 6,241 | ||||||||
| 32,800 | *,e | Vir Biotechnology, Inc | 835 | |||||||
| 13,226 | * | Viridian Therapeutics, Inc | 153 | |||||||
| 104,364 | *,e | VistaGen Therapeutics, Inc | 92 | |||||||
| 30,893 | * | Waters Corp | 10,225 | |||||||
| 39,169 | West Pharmaceutical Services, Inc | 11,844 | ||||||||
| 27,098 | * | Xencor, Inc | 742 | |||||||
| 67,913 | * | Xeris Biopharma Holdings, Inc | 105 | |||||||
| 19,065 | *,e | Y-mAbs Therapeutics, Inc | 288 | |||||||
| 18,143 | *,e | Zentalis Pharmaceuticals, Inc | 510 | |||||||
| 243,111 | Zoetis, Inc | 41,788 | ||||||||
| 33,098 | *,†,e | Zogenix, Inc | 23 | |||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 1,705,215 | |||||||||
| 291 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| REAL ESTATE - 3.6% | ||||||||||
| 46,252 | Acadia Realty Trust | $ | 722 | |||||||
| 36,654 | e | Agree Realty Corp | 2,644 | |||||||
| 47,563 | Alexander & Baldwin, Inc | 854 | ||||||||
| 1,329 | Alexander’s, Inc | 295 | ||||||||
| 83,569 | Alexandria Real Estate Equities, Inc | 12,120 | ||||||||
| 28,646 | American Assets Trust, Inc | 851 | ||||||||
| 69,728 | American Campus Communities, Inc | 4,495 | ||||||||
| 68,514 | American Finance Trust, Inc | 499 | ||||||||
| 152,675 | American Homes 4 Rent | 5,411 | ||||||||
| 239,574 | American Tower Corp | 61,233 | ||||||||
| 133,721 | e | Americold Realty Trust | 4,017 | |||||||
| 85,829 | Apartment Income Corp | 3,570 | ||||||||
| 79,626 | *,e | Apartment Investment and Management Co | 510 | |||||||
| 113,878 | Apple Hospitality REIT, Inc | 1,671 | ||||||||
| 31,681 | Armada Hoffler Properties, Inc | 407 | ||||||||
| 5,980 | *,e | Ashford Hospitality Trust, Inc | 36 | |||||||
| 72,533 | AvalonBay Communities, Inc | 14,090 | ||||||||
| 14,697 | Bluerock Residential Growth REIT, Inc | 386 | ||||||||
| 81,787 | Boston Properties, Inc | 7,277 | ||||||||
| 35,081 | e | BraeMar Hotels & Resorts, Inc | 150 | |||||||
| 92,621 | Brandywine Realty Trust | 893 | ||||||||
| 162,598 | Brixmor Property Group, Inc | 3,286 | ||||||||
| 77,650 | Broadstone Net Lease, Inc | 1,593 | ||||||||
| 6,068 | Brt Realty Trust | 130 | ||||||||
| 52,715 | Camden Property Trust | 7,089 | ||||||||
| 50,740 | CareTrust REIT, Inc | 936 | ||||||||
| 29,192 | CatchMark Timber Trust, Inc | 294 | ||||||||
| 13,650 | * | CBL & Associates Properties, Inc | 321 | |||||||
| 173,280 | CBRE Group, Inc | 12,755 | ||||||||
| 5,509 | Cedar Realty Trust, Inc | 159 | ||||||||
| 9,060 | Centerspace | 739 | ||||||||
| 28,285 | * | Chatham Lodging Trust | 296 | |||||||
| 21,833 | City Office REIT, Inc | 283 | ||||||||
| 10,462 | Clipper Realty, Inc | 81 | ||||||||
| 9,586 | Community Healthcare Trust, Inc | 347 | ||||||||
| 133,621 | *,e | Compass, Inc | 482 | |||||||
| 61,652 | Corporate Office Properties Trust | 1,615 | ||||||||
| 84,914 | Cousins Properties, Inc | 2,482 | ||||||||
| 222,772 | Crown Castle International Corp | 37,510 | ||||||||
| 3,998 | e | CTO Realty Growth, Inc | 244 | |||||||
| 110,271 | CubeSmart | 4,711 | ||||||||
| 66,192 | * | Cushman & Wakefield plc | 1,009 | |||||||
| 114,160 | * | DiamondRock Hospitality Co | 937 | |||||||
| 146,213 | Digital Realty Trust, Inc | 18,983 | ||||||||
| 279,022 | * | DigitalBridge Group, Inc | 1,362 | |||||||
| 136,618 | Diversified Healthcare Trust | 249 | ||||||||
| 39,190 | e | Douglas Elliman, Inc | 188 | |||||||
| 91,371 | Douglas Emmett, Inc | 2,045 | ||||||||
| 196,555 | Duke Realty Corp | 10,801 | ||||||||
| 46,730 | Easterly Government Properties, Inc | 890 | ||||||||
| 21,698 | EastGroup Properties, Inc | 3,349 | ||||||||
| 82,308 | Empire State Realty Trust, Inc | 579 | ||||||||
| 40,647 | EPR Properties | 1,908 | ||||||||
| 292 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 46,900 | Equinix, Inc | $ | 30,814 | |||||||
| 43,426 | * | Equity Commonwealth | 1,195 | |||||||
| 91,603 | Equity Lifestyle Properties, Inc | 6,455 | ||||||||
| 191,041 | Equity Residential | 13,797 | ||||||||
| 63,885 | Essential Properties Realty Trust, Inc | 1,373 | ||||||||
| 34,070 | Essex Property Trust, Inc | 8,910 | ||||||||
| 28,436 | e | eXp World Holdings Inc | 335 | |||||||
| 69,414 | Extra Space Storage, Inc | 11,809 | ||||||||
| 19,962 | Farmland Partners, Inc | 275 | ||||||||
| 39,750 | Federal Realty Investment Trust | 3,806 | ||||||||
| 67,202 | First Industrial Realty Trust, Inc | 3,191 | ||||||||
| 425 | * | Forestar Group, Inc | 6 | |||||||
| 41,086 | Four Corners Property Trust, Inc | 1,092 | ||||||||
| 72,511 | Franklin Street Properties Corp | 302 | ||||||||
| 4,942 | * | FRP Holdings, Inc | 298 | |||||||
| 122,015 | Gaming and Leisure Properties, Inc | 5,596 | ||||||||
| 18,198 | Getty Realty Corp | 482 | ||||||||
| 17,811 | Gladstone Commercial Corp | 336 | ||||||||
| 11,325 | Gladstone Land Corp | 251 | ||||||||
| 30,930 | Global Medical REIT, Inc | 347 | ||||||||
| 44,961 | Global Net Lease, Inc | 637 | ||||||||
| 82,789 | Healthcare Realty Trust, Inc | 2,252 | ||||||||
| 119,524 | Healthcare Trust of America, Inc | 3,336 | ||||||||
| 279,927 | Healthpeak Properties Inc | 7,253 | ||||||||
| 27,708 | * | Hersha Hospitality Trust | 272 | |||||||
| 46,362 | Highwoods Properties, Inc | 1,585 | ||||||||
| 366,232 | Host Hotels and Resorts, Inc | 5,742 | ||||||||
| 22,285 | * | Howard Hughes Corp | 1,516 | |||||||
| 80,595 | Hudson Pacific Properties | 1,196 | ||||||||
| 115,925 | Independence Realty Trust, Inc | 2,403 | ||||||||
| 2,737 | Indus Realty Trust, Inc | 162 | ||||||||
| 34,891 | Industrial Logistics Properties Trust | 491 | ||||||||
| 12,344 | Innovative Industrial Properties, Inc | 1,356 | ||||||||
| 34,736 | InvenTrust Properties Corp | 896 | ||||||||
| 307,088 | Invitation Homes, Inc | 10,926 | ||||||||
| 146,394 | Iron Mountain, Inc | 7,128 | ||||||||
| 38,621 | iStar Inc | 529 | ||||||||
| 64,898 | JBG SMITH Properties | 1,534 | ||||||||
| 26,164 | * | Jones Lang LaSalle, Inc | 4,575 | |||||||
| 44,610 | Kennedy-Wilson Holdings, Inc | 845 | ||||||||
| 63,758 | Kilroy Realty Corp | 3,336 | ||||||||
| 300,353 | Kimco Realty Corp | 5,938 | ||||||||
| 118,460 | Kite Realty Group Trust | 2,048 | ||||||||
| 47,334 | Lamar Advertising Co | 4,164 | ||||||||
| 144,484 | Lexington Realty Trust | 1,552 | ||||||||
| 42,193 | Life Storage, Inc | 4,711 | ||||||||
| 19,960 | LTC Properties, Inc | 766 | ||||||||
| 107,859 | Macerich Co | 939 | ||||||||
| 47,939 | * | Mack-Cali Realty Corp | 635 | |||||||
| 11,498 | Marcus & Millichap, Inc | 425 | ||||||||
| 283,531 | Medical Properties Trust, Inc | 4,329 | ||||||||
| 61,102 | Mid-America Apartment Communities, Inc | 10,673 | ||||||||
| 22,628 | e | National Health Investors, Inc | 1,371 | |||||||
| 89,038 | National Retail Properties, Inc | 3,829 | ||||||||
| 293 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 38,309 | National Storage Affiliates Trust | $ | 1,918 | |||||||
| 21,654 | NETSTREIT Corp | 409 | ||||||||
| 81,428 | Newmark Group, Inc | 787 | ||||||||
| 12,730 | NexPoint Residential Trust, Inc | 796 | ||||||||
| 35,021 | * | Offerpad Solutions, Inc | 76 | |||||||
| 23,677 | Office Properties Income Trust | 472 | ||||||||
| 129,929 | e | Omega Healthcare Investors, Inc | 3,663 | |||||||
| 9,166 | e | One Liberty Properties, Inc | 238 | |||||||
| 228,590 | *,e | Opendoor Technologies, Inc | 1,077 | |||||||
| 29,999 | e | Orion Office REIT, Inc | 329 | |||||||
| 76,197 | Outfront Media, Inc | 1,292 | ||||||||
| 101,864 | Paramount Group, Inc | 736 | ||||||||
| 132,332 | Park Hotels & Resorts, Inc | 1,796 | ||||||||
| 71,223 | e | Pebblebrook Hotel Trust | 1,180 | |||||||
| 59,852 | Phillips Edison & Co, Inc | 2,000 | ||||||||
| 107,460 | Physicians Realty Trust | 1,875 | ||||||||
| 36,714 | Piedmont Office Realty Trust, Inc | 482 | ||||||||
| 13,733 | Plymouth Industrial REIT, Inc | 241 | ||||||||
| 9,072 | Postal Realty Trust, Inc | 135 | ||||||||
| 34,013 | PotlatchDeltic Corp | 1,503 | ||||||||
| 381,348 | Prologis, Inc | 44,866 | ||||||||
| 9,080 | PS Business Parks, Inc | 1,699 | ||||||||
| 80,670 | Public Storage, Inc | 25,223 | ||||||||
| 75,814 | Rayonier, Inc | 2,834 | ||||||||
| 13,117 | Re/Max Holdings, Inc | 322 | ||||||||
| 62,854 | * | Realogy Holdings Corp | 618 | |||||||
| 310,595 | Realty Income Corp | 21,201 | ||||||||
| 57,095 | *,e | Redfin Corp | 470 | |||||||
| 92,769 | Regency Centers Corp | 5,502 | ||||||||
| 63,462 | Retail Opportunities Investment Corp | 1,001 | ||||||||
| 84,858 | e | Rexford Industrial Realty, Inc | 4,887 | |||||||
| 92,471 | RLJ Lodging Trust | 1,020 | ||||||||
| 5,123 | RMR Group, Inc | 145 | ||||||||
| 57,913 | RPT Realty | 569 | ||||||||
| 29,351 | * | Ryman Hospitality Properties | 2,232 | |||||||
| 116,469 | Sabra Healthcare REIT, Inc | 1,627 | ||||||||
| 7,521 | e | Safehold, Inc | 266 | |||||||
| 6,451 | Saul Centers, Inc | 304 | ||||||||
| 55,017 | SBA Communications Corp | 17,608 | ||||||||
| 18,501 | *,e | Seritage Growth Properties | 96 | |||||||
| 93,168 | Service Properties Trust | 487 | ||||||||
| 168,295 | Simon Property Group, Inc | 15,975 | ||||||||
| 103,764 | SITE Centers Corp | 1,398 | ||||||||
| 38,202 | e | SL Green Realty Corp | 1,763 | |||||||
| 62,949 | Spirit Realty Capital, Inc | 2,378 | ||||||||
| 18,561 | St. Joe Co | 734 | ||||||||
| 84,224 | STAG Industrial, Inc | 2,601 | ||||||||
| 134,185 | STORE Capital Corp | 3,500 | ||||||||
| 3,112 | * | Stratus Properties, Inc | 100 | |||||||
| 73,018 | * | Summit Hotel Properties, Inc | 531 | |||||||
| 60,721 | Sun Communities, Inc | 9,676 | ||||||||
| 117,301 | * | Sunstone Hotel Investors, Inc | 1,164 | |||||||
| 54,135 | Tanger Factory Outlet Centers, Inc | 770 | ||||||||
| 12,164 | * | Tejon Ranch Co | 189 | |||||||
| 294 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 35,329 | Terreno Realty Corp | $ | 1,969 | |||||||
| 162,250 | UDR, Inc | 7,470 | ||||||||
| 20,169 | UMH Properties, Inc | 356 | ||||||||
| 121,658 | Uniti Group, Inc | 1,146 | ||||||||
| 2,401 | Universal Health Realty Income Trust | 128 | ||||||||
| 70,770 | Urban Edge Properties | 1,076 | ||||||||
| 20,808 | Urstadt Biddle Properties, Inc (Class A) | 337 | ||||||||
| 205,950 | Ventas, Inc | 10,592 | ||||||||
| 496,257 | e | VICI Properties, Inc | 14,783 | |||||||
| 96,380 | Vornado Realty Trust | 2,755 | ||||||||
| 46,196 | Washington REIT | 984 | ||||||||
| 234,476 | Welltower, Inc | 19,309 | ||||||||
| 67,032 | *,e | WeWork, Inc | 336 | |||||||
| 379,758 | Weyerhaeuser Co | 12,578 | ||||||||
| 25,132 | Whitestone REIT | 270 | ||||||||
| 95,264 | WP Carey, Inc | 7,894 | ||||||||
| 62,184 | * | Xenia Hotels & Resorts, Inc | 904 | |||||||
| 32,630 | * | Zillow Group, Inc (Class A) | 1,038 | |||||||
| 90,080 | *,e | Zillow Group, Inc (Class C) | 2,860 | |||||||
| TOTAL REAL ESTATE | 711,350 | |||||||||
| RETAILING - 5.3% | ||||||||||
| 18,290 | * | 1-800-FLOWERS.COM, Inc (Class A) | 174 | |||||||
| 18,402 | Aaron’s Co, Inc | 268 | ||||||||
| 23,424 | * | Abercrombie & Fitch Co (Class A) | 396 | |||||||
| 36,738 | Academy Sports & Outdoors, Inc | 1,306 | ||||||||
| 33,209 | Advance Auto Parts, Inc | 5,748 | ||||||||
| 4,582,723 | * | Amazon.com, Inc | 486,731 | |||||||
| 85,497 | e | American Eagle Outfitters, Inc | 956 | |||||||
| 3,312 | * | America’s Car-Mart, Inc | 333 | |||||||
| 65,041 | Arko Corp | 531 | ||||||||
| 10,565 | * | Asbury Automotive Group, Inc | 1,789 | |||||||
| 17,672 | * | Autonation, Inc | 1,975 | |||||||
| 10,226 | * | AutoZone, Inc | 21,977 | |||||||
| 119,103 | Bath & Body Works, Inc | 3,206 | ||||||||
| 27,869 | *,e | Bed Bath & Beyond, Inc | 138 | |||||||
| 103,686 | Best Buy Co, Inc | 6,759 | ||||||||
| 11,361 | e | Big 5 Sporting Goods Corp | 127 | |||||||
| 20,052 | e | Big Lots, Inc | 420 | |||||||
| 15,681 | * | Boot Barn Holdings, Inc | 1,081 | |||||||
| 14,004 | Buckle, Inc | 388 | ||||||||
| 7,271 | Build-A-Bear Workshop, Inc | 119 | ||||||||
| 36,184 | * | Burlington Stores, Inc | 4,929 | |||||||
| 20,111 | Caleres, Inc | 528 | ||||||||
| 22,123 | e | Camping World Holdings, Inc | 478 | |||||||
| 85,911 | * | CarMax, Inc | 7,773 | |||||||
| 19,398 | * | CarParts.com, Inc | 135 | |||||||
| 42,371 | *,e | Carvana Co | 957 | |||||||
| 12,003 | Cato Corp (Class A) | 139 | ||||||||
| 66,517 | * | Chico’s FAS, Inc | 331 | |||||||
| 7,673 | * | Children’s Place, Inc | 299 | |||||||
| 6,121 | *,e | Citi Trends, Inc | 145 | |||||||
| 13,169 | *,e | Conn’s, Inc | 106 | |||||||
| 11,400 | * | Container Store Group, Inc | 71 | |||||||
| 295 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 291,707 | * | ContextLogic, Inc | $ | 467 | ||||||
| 32,814 | Designer Brands, Inc | 429 | ||||||||
| 30,615 | * | Destination XL Group, Inc | 104 | |||||||
| 28,635 | e | Dick’s Sporting Goods, Inc | 2,158 | |||||||
| 1,003 | e | Dillard’s, Inc (Class A) | 221 | |||||||
| 118,051 | Dollar General Corp | 28,974 | ||||||||
| 109,618 | * | Dollar Tree, Inc | 17,084 | |||||||
| 128,912 | * | DoorDash, Inc | 8,272 | |||||||
| 7,236 | * | Duluth Holdings, Inc | 69 | |||||||
| 288,987 | eBay, Inc | 12,042 | ||||||||
| 66,094 | * | Etsy, Inc | 4,839 | |||||||
| 34,837 | *,e | EVgo, Inc | 209 | |||||||
| 30,809 | * | Five Below, Inc | 3,495 | |||||||
| 55,907 | * | Floor & Decor Holdings, Inc | 3,520 | |||||||
| 33,391 | Foot Locker, Inc | 843 | ||||||||
| 11,421 | Franchise Group, Inc | 401 | ||||||||
| 10,965 | * | Funko, Inc | 245 | |||||||
| 34,613 | *,e | GameStop Corp (Class A) | 4,233 | |||||||
| 81,317 | Gap, Inc | 670 | ||||||||
| 7,998 | * | Genesco, Inc | 399 | |||||||
| 70,631 | Genuine Parts Co | 9,394 | ||||||||
| 8,241 | Group 1 Automotive, Inc | 1,399 | ||||||||
| 12,244 | *,e | Groupon, Inc | 138 | |||||||
| 29,518 | *,e | GrowGeneration Corp | 106 | |||||||
| 21,962 | Guess?, Inc | 374 | ||||||||
| 9,098 | e | Haverty Furniture Cos, Inc | 211 | |||||||
| 9,181 | Hibbett Sports, Inc | 401 | ||||||||
| 533,539 | Home Depot, Inc | 146,334 | ||||||||
| 65,995 | Kohl’s Corp | 2,355 | ||||||||
| 9,431 | * | Lands’ End, Inc | 100 | |||||||
| 59,869 | *,e | Leslie’s, Inc | 909 | |||||||
| 19,090 | *,e | Liquidity Services, Inc | 257 | |||||||
| 15,893 | Lithia Motors, Inc (Class A) | 4,368 | ||||||||
| 133,711 | LKQ Corp | 6,564 | ||||||||
| 341,540 | Lowe’s Companies, Inc | 59,657 | ||||||||
| 19,294 | * | Lumber Liquidators, Inc | 181 | |||||||
| 151,054 | Macy’s, Inc | 2,767 | ||||||||
| 11,739 | * | MarineMax, Inc | 424 | |||||||
| 18,107 | Monro Muffler, Inc | 776 | ||||||||
| 8,996 | Murphy USA, Inc | 2,095 | ||||||||
| 47,869 | * | National Vision Holdings, Inc | 1,316 | |||||||
| 60,699 | Nordstrom, Inc | 1,283 | ||||||||
| 18,624 | * | ODP Corp | 563 | |||||||
| 35,834 | * | Ollie’s Bargain Outlet Holdings, Inc | 2,105 | |||||||
| 5,690 | * | OneWater Marine, Inc | 188 | |||||||
| 32,772 | * | O’Reilly Automotive, Inc | 20,704 | |||||||
| 24,586 | *,e | Overstock.com, Inc | 615 | |||||||
| 13,329 | Penske Auto Group, Inc | 1,395 | ||||||||
| 40,988 | *,e | Petco Health & Wellness Co, Inc | 604 | |||||||
| 14,105 | e | PetMed Express, Inc | 281 | |||||||
| 20,231 | Pool Corp | 7,106 | ||||||||
| 41,549 | *,e | Porch Group, Inc | 106 | |||||||
| 23,560 | * | Poshmark, Inc | 238 | |||||||
| 53,361 | * | Quotient Technology, Inc | 158 | |||||||
| 296 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 130,909 | Qurate Retail Group, Inc QVC Group | $ | 376 | |||||||
| 42,901 | * | RealReal, Inc | 107 | |||||||
| 27,217 | Rent-A-Center, Inc | 529 | ||||||||
| 19,596 | * | Revolve Group, Inc | 508 | |||||||
| 9,426 | * | RH | 2,001 | |||||||
| 178,089 | Ross Stores, Inc | 12,507 | ||||||||
| 66,571 | * | Sally Beauty Holdings, Inc | 794 | |||||||
| 4,712 | Shoe Carnival, Inc | 102 | ||||||||
| 13,499 | Shutterstock, Inc | 774 | ||||||||
| 29,200 | Signet Jewelers Ltd | 1,561 | ||||||||
| 13,058 | * | Sleep Number Corp | 404 | |||||||
| 11,945 | Sonic Automotive, Inc (Class A) | 438 | ||||||||
| 19,952 | * | Sportsman’s Warehouse Holdings, Inc | 191 | |||||||
| 32,244 | * | Stitch Fix Inc | 159 | |||||||
| 239,127 | Target Corp | 33,772 | ||||||||
| 30,109 | * | ThredUp, Inc | 75 | |||||||
| 6,790 | Tilly’s, Inc | 48 | ||||||||
| 606,207 | TJX Companies, Inc | 33,857 | ||||||||
| 57,697 | Tractor Supply Co | 11,185 | ||||||||
| 6,470 | * | TravelCenters of America, Inc | 223 | |||||||
| 25,507 | * | Ulta Beauty, Inc | 9,832 | |||||||
| 37,439 | * | Urban Outfitters, Inc | 699 | |||||||
| 41,105 | * | Victoria’s Secret & Co | 1,150 | |||||||
| 12,686 | Vivid Seats, Inc | 95 | ||||||||
| 62,669 | *,e | Volta, Inc | 81 | |||||||
| 42,783 | * | Warby Parker, Inc | 482 | |||||||
| 41,399 | *,e | Wayfair, Inc | 1,803 | |||||||
| 37,164 | Williams-Sonoma, Inc | 4,123 | ||||||||
| 1,945 | Winmark Corp | 380 | ||||||||
| 17,318 | *,e | Xometry, Inc | 588 | |||||||
| 11,661 | * | Zumiez, Inc | 303 | |||||||
| TOTAL RETAILING | 1,033,606 | |||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.6% | ||||||||||
| 24,578 | * | ACM Research, Inc | 414 | |||||||
| 834,016 | * | Advanced Micro Devices, Inc | 63,777 | |||||||
| 26,133 | * | Allegro MicroSystems, Inc | 541 | |||||||
| 15,539 | * | Alpha & Omega Semiconductor Ltd | 518 | |||||||
| 19,074 | * | Ambarella, Inc | 1,249 | |||||||
| 55,705 | Amkor Technology, Inc | 944 | ||||||||
| 265,474 | Analog Devices, Inc | 38,783 | ||||||||
| 455,285 | Applied Materials, Inc | 41,422 | ||||||||
| 10,142 | *,e | Atomera, Inc | 95 | |||||||
| 20,849 | * | Axcelis Technologies, Inc | 1,143 | |||||||
| 26,991 | * | AXT, Inc | 158 | |||||||
| 204,994 | Broadcom, Inc | 99,588 | ||||||||
| 15,710 | * | Ceva, Inc | 527 | |||||||
| 26,804 | * | Cirrus Logic, Inc | 1,944 | |||||||
| 11,271 | CMC Materials, Inc | 1,967 | ||||||||
| 26,675 | * | Cohu, Inc | 740 | |||||||
| 12,042 | * | Credo Technology Group Holding Ltd | 141 | |||||||
| 3,674 | * | CyberOptics Corp | 128 | |||||||
| 23,788 | * | Diodes, Inc | 1,536 | |||||||
| 66,786 | *,e | Enphase Energy, Inc | 13,039 | |||||||
| 297 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 66,933 | Entegris, Inc | $ | 6,167 | |||||||
| 51,096 | * | First Solar, Inc | 3,481 | |||||||
| 42,439 | * | Formfactor, Inc | 1,644 | |||||||
| 32,223 | * | GLOBALFOUNDRIES, Inc | 1,300 | |||||||
| 15,133 | * | Ichor Holdings Ltd | 393 | |||||||
| 13,074 | * | Impinj, Inc | 767 | |||||||
| 51,148 | * | indie Semiconductor, Inc | 292 | |||||||
| 2,108,703 | Intel Corp | 78,887 | ||||||||
| 77,039 | KLA Corp | 24,582 | ||||||||
| 33,411 | e | Kulicke & Soffa Industries, Inc | 1,430 | |||||||
| 71,539 | Lam Research Corp | 30,486 | ||||||||
| 75,431 | * | Lattice Semiconductor Corp | 3,658 | |||||||
| 29,103 | * | MACOM Technology Solutions Holdings, Inc | 1,342 | |||||||
| 436,898 | Marvell Technology, Inc | 19,018 | ||||||||
| 38,172 | * | MaxLinear, Inc | 1,297 | |||||||
| 277,936 | Microchip Technology, Inc | 16,143 | ||||||||
| 565,304 | Micron Technology, Inc | 31,250 | ||||||||
| 26,862 | MKS Instruments, Inc | 2,757 | ||||||||
| 23,066 | Monolithic Power Systems, Inc | 8,858 | ||||||||
| 26,573 | * | Nanometrics, Inc | 1,853 | |||||||
| 21,168 | * | NeoPhotonics Corp Ltd | 333 | |||||||
| 1,243,534 | NVIDIA Corp | 188,507 | ||||||||
| 220,276 | * | ON Semiconductor Corp | 11,082 | |||||||
| 20,605 | * | PDF Solutions, Inc | 443 | |||||||
| 46,544 | * | Photronics, Inc | 907 | |||||||
| 33,225 | Power Integrations, Inc | 2,492 | ||||||||
| 55,854 | * | Qorvo, Inc | 5,268 | |||||||
| 578,590 | QUALCOMM, Inc | 73,909 | ||||||||
| 61,164 | * | Rambus, Inc | 1,314 | |||||||
| 52,268 | *,e | Rockley Photonics Holdings Ltd | 114 | |||||||
| 35,296 | * | Semtech Corp | 1,940 | |||||||
| 18,610 | * | Silicon Laboratories, Inc | 2,610 | |||||||
| 7,023 | * | SiTime Corp | 1,145 | |||||||
| 84,315 | Skyworks Solutions, Inc | 7,811 | ||||||||
| 15,494 | * | SMART Global Holdings, Inc | 254 | |||||||
| 42,585 | *,e | SunPower Corp | 673 | |||||||
| 19,257 | * | Synaptics, Inc | 2,273 | |||||||
| 81,009 | Teradyne, Inc | 7,254 | ||||||||
| 472,207 | Texas Instruments, Inc | 72,555 | ||||||||
| 23,500 | * | Ultra Clean Holdings | 700 | |||||||
| 24,314 | Universal Display Corp | 2,459 | ||||||||
| 34,384 | * | Veeco Instruments, Inc | 667 | |||||||
| 62,345 | * | Wolfspeed Inc | 3,956 | |||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 892,925 | |||||||||
| SOFTWARE & SERVICES - 13.5% | ||||||||||
| 65,506 | * | 8x8, Inc | 337 | |||||||
| 32,215 | A10 Networks, Inc | 463 | ||||||||
| 327,184 | Accenture plc | 90,843 | ||||||||
| 68,208 | * | ACI Worldwide, Inc | 1,766 | |||||||
| 243,674 | * | Adobe, Inc | 89,199 | |||||||
| 90,541 | *,e | Affirm Holdings, Inc | 1,635 | |||||||
| 11,056 | * | Agilysys, Inc | 523 | |||||||
| 82,582 | * | Akamai Technologies, Inc | 7,542 | |||||||
| 298 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 26,945 | * | Alarm.com Holdings, Inc | $ | 1,667 | ||||||
| 15,192 | *,e | Alkami Technology, Inc | 211 | |||||||
| 24,769 | * | Altair Engineering, Inc | 1,300 | |||||||
| 32,290 | * | Alteryx, Inc | 1,563 | |||||||
| 59,006 | Amdocs Ltd | 4,916 | ||||||||
| 15,720 | American Software, Inc (Class A) | 254 | ||||||||
| 28,669 | * | Amplitude, Inc | 410 | |||||||
| 45,731 | * | Ansys, Inc | 10,943 | |||||||
| 9,509 | * | Appfolio, Inc | 862 | |||||||
| 20,140 | *,e | Appian Corp | 954 | |||||||
| 116,026 | * | AppLovin Corp | 3,996 | |||||||
| 40,356 | *,e | Asana, Inc | 709 | |||||||
| 14,242 | * | Aspen Technology, Inc | 2,616 | |||||||
| 70,590 | * | Atlassian Corp plc | 13,229 | |||||||
| 112,313 | * | Autodesk, Inc | 19,313 | |||||||
| 212,833 | Automatic Data Processing, Inc | 44,703 | ||||||||
| 46,044 | * | Avalara, Inc | 3,251 | |||||||
| 45,036 | * | Avaya Holdings Corp | 101 | |||||||
| 66,029 | *,e | AvePoint, Inc | 287 | |||||||
| 75,147 | * | AvidXchange Holdings, Inc | 461 | |||||||
| 11,374 | * | Benefitfocus, Inc | 88 | |||||||
| 86,956 | Bentley Systems, Inc | 2,896 | ||||||||
| 24,476 | * | BigCommerce Holdings, Inc | 397 | |||||||
| 49,304 | * | Bill.Com Holdings, Inc | 5,420 | |||||||
| 82,754 | * | Black Knight, Inc | 5,411 | |||||||
| 26,411 | * | Blackbaud, Inc | 1,534 | |||||||
| 29,853 | * | Blackline, Inc | 1,988 | |||||||
| 94,859 | * | Blend Labs, Inc | 224 | |||||||
| 267,045 | * | Block, Inc | 16,413 | |||||||
| 66,925 | * | Box, Inc | 1,682 | |||||||
| 27,328 | Bread Financial Holdings, Inc | 1,013 | ||||||||
| 20,694 | * | Brightcove, Inc | 131 | |||||||
| 61,037 | Broadridge Financial Solutions, Inc | 8,701 | ||||||||
| 25,858 | * | BTRS Holdings, Inc | 129 | |||||||
| 44,223 | * | Bumble, Inc | 1,245 | |||||||
| 42,696 | *,e | C3.ai, Inc | 780 | |||||||
| 141,007 | * | Cadence Design Systems, Inc | 21,155 | |||||||
| 31,787 | * | Cantaloupe, Inc | 178 | |||||||
| 10,596 | Cass Information Systems, Inc | 358 | ||||||||
| 87,215 | * | CCC Intelligent Solutions Holdings, Inc | 802 | |||||||
| 59,690 | CDK Global, Inc | 3,269 | ||||||||
| 23,399 | *,e | Cerberus Cyber Sentinel Corp | 84 | |||||||
| 22,039 | * | Cerence Inc | 556 | |||||||
| 66,788 | * | Ceridian HCM Holding, Inc | 3,144 | |||||||
| 15,814 | * | ChannelAdvisor Corp | 231 | |||||||
| 63,090 | Citrix Systems, Inc | 6,130 | ||||||||
| 17,869 | *,e | Cleanspark, Inc | 70 | |||||||
| 31,897 | * | Clear Secure, Inc | 638 | |||||||
| 144,134 | * | Cloudflare, Inc | 6,306 | |||||||
| 270,418 | Cognizant Technology Solutions Corp (Class A) | 18,251 | ||||||||
| 20,876 | * | Commvault Systems, Inc | 1,313 | |||||||
| 21,043 | Concentrix Corp | 2,854 | ||||||||
| 91,431 | * | Conduent, Inc | 395 | |||||||
| 64,060 | *,e | Confluent, Inc | 1,489 | |||||||
| 299 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 7,805 | * | Consensus Cloud Solutions, Inc | $ | 341 | ||||||
| 112,152 | * | Core Scientific, Inc | 167 | |||||||
| 13,583 | * | Couchbase, Inc | 223 | |||||||
| 40,201 | * | Coupa Software, Inc | 2,295 | |||||||
| 108,468 | * | Crowdstrike Holdings, Inc | 18,283 | |||||||
| 6,968 | *,e | CS Disco, Inc | 126 | |||||||
| 17,763 | CSG Systems International, Inc | 1,060 | ||||||||
| 43,093 | *,e | Cvent Holding Corp | 199 | |||||||
| 21,825 | *,e | Cyxtera Technologies, Inc | 248 | |||||||
| 133,433 | * | Datadog, Inc | 12,708 | |||||||
| 7,264 | *,e | Digimarc Corp | 103 | |||||||
| 46,104 | *,e | Digital Turbine, Inc | 805 | |||||||
| 39,126 | *,e | DigitalOcean Holdings, Inc | 1,618 | |||||||
| 103,146 | * | DocuSign, Inc | 5,919 | |||||||
| 35,265 | Dolby Laboratories, Inc (Class A) | 2,524 | ||||||||
| 15,039 | * | Domo, Inc | 418 | |||||||
| 35,232 | * | DoubleVerify Holdings, Inc | 799 | |||||||
| 144,561 | * | Dropbox, Inc | 3,034 | |||||||
| 40,815 | * | Duck Creek Technologies, Inc | 606 | |||||||
| 125,003 | * | DXC Technology Co | 3,789 | |||||||
| 106,722 | * | Dynatrace, Inc | 4,209 | |||||||
| 87,429 | *,e | E2open Parent Holdings, Inc | 680 | |||||||
| 17,480 | Ebix, Inc | 295 | ||||||||
| 10,699 | * | eGain Corp | 104 | |||||||
| 37,517 | * | Elastic NV | 2,539 | |||||||
| 13,046 | * | Enfusion, Inc | 133 | |||||||
| 17,890 | * | EngageSmart, Inc | 288 | |||||||
| 30,234 | * | Envestnet, Inc | 1,595 | |||||||
| 27,283 | * | EPAM Systems, Inc | 8,042 | |||||||
| 27,813 | * | Euronet Worldwide, Inc | 2,798 | |||||||
| 21,053 | * | Everbridge, Inc | 587 | |||||||
| 12,378 | * | EverCommerce, Inc | 112 | |||||||
| 31,074 | EVERTEC, Inc | 1,146 | ||||||||
| 25,590 | * | Evo Payments, Inc | 602 | |||||||
| 17,218 | * | ExlService Holdings, Inc | 2,537 | |||||||
| 12,846 | * | Fair Isaac Corp | 5,150 | |||||||
| 58,075 | *,e | Fastly, Inc | 674 | |||||||
| 315,970 | Fidelity National Information Services, Inc | 28,965 | ||||||||
| 127,712 | * | FireEye, Inc | 2,787 | |||||||
| 307,684 | * | Fiserv, Inc | 27,375 | |||||||
| 37,675 | * | Five9, Inc | 3,434 | |||||||
| 38,814 | * | FleetCor Technologies, Inc | 8,155 | |||||||
| 33,603 | * | Flywire Corp | 592 | |||||||
| 341,945 | * | Fortinet, Inc | 19,347 | |||||||
| 40,808 | * | Gartner, Inc | 9,869 | |||||||
| 94,449 | Genpact Ltd | 4,001 | ||||||||
| 145,625 | Global Payments, Inc | 16,112 | ||||||||
| 21,651 | * | Globant S.A. | 3,767 | |||||||
| 86,670 | * | GoDaddy, Inc | 6,029 | |||||||
| 15,258 | * | Grid Dynamics Holdings, Inc | 257 | |||||||
| 20,925 | * | GTY Technology Holdings Inc | 131 | |||||||
| 46,084 | * | Guidewire Software, Inc | 3,272 | |||||||
| 17,956 | Hackett Group, Inc | 341 | ||||||||
| 24,272 | * | HubSpot, Inc | 7,297 | |||||||
| 300 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 9,245 | * | I3 Verticals, Inc | $ | 231 | ||||||
| 17,943 | *,e | Informatica, Inc | 373 | |||||||
| 18,219 | Information Services Group, Inc | 123 | ||||||||
| 8,870 | * | Instructure Holdings, Inc | 201 | |||||||
| 18,324 | InterDigital, Inc | 1,114 | ||||||||
| 463,725 | International Business Machines Corp | 65,473 | ||||||||
| 13,645 | * | International Money Express Inc | 279 | |||||||
| 142,294 | Intuit, Inc | 54,846 | ||||||||
| 37,546 | Jack Henry & Associates, Inc | 6,759 | ||||||||
| 29,050 | *,e | Jamf Holding Corp | 720 | |||||||
| 37,345 | * | KnowBe4, Inc | 583 | |||||||
| 95,867 | * | Kyndryl Holdings, Inc | 938 | |||||||
| 50,961 | *,e | Limelight Networks, Inc | 118 | |||||||
| 34,967 | * | Liveperson, Inc | 494 | |||||||
| 35,615 | * | LiveRamp Holdings, Inc | 919 | |||||||
| 32,654 | * | Manhattan Associates, Inc | 3,742 | |||||||
| 52,095 | *,e | Marathon Digital Holdings, Inc | 278 | |||||||
| 222,577 | * | Marqeta, Inc | 1,805 | |||||||
| 442,681 | Mastercard, Inc (Class A) | 139,657 | ||||||||
| 112,247 | *,e | Matterport, Inc | 411 | |||||||
| 31,583 | MAXIMUS, Inc | 1,974 | ||||||||
| 11,893 | * | MeridianLink, Inc | 199 | |||||||
| 3,860,163 | Microsoft Corp | 991,406 | ||||||||
| 4,156 | *,e | MicroStrategy, Inc (Class A) | 683 | |||||||
| 22,456 | * | Mitek Systems, Inc | 207 | |||||||
| 14,483 | *,e | Model N, Inc | 370 | |||||||
| 35,218 | * | MoneyGram International, Inc | 352 | |||||||
| 33,619 | * | MongoDB, Inc | 8,724 | |||||||
| 19,169 | * | N-Able, Inc | 173 | |||||||
| 25,933 | *,e | nCino OpCo, Inc | 802 | |||||||
| 68,992 | * | NCR Corp | 2,146 | |||||||
| 30,028 | * | New Relic, Inc | 1,503 | |||||||
| 283,454 | NortonLifelock, Inc | 6,225 | ||||||||
| 105,783 | * | Nutanix, Inc | 1,548 | |||||||
| 64,057 | * | Okta, Inc | 5,791 | |||||||
| 46,103 | * | Olo, Inc | 455 | |||||||
| 4,837 | * | ON24, Inc | 46 | |||||||
| 21,489 | * | OneSpan, Inc | 256 | |||||||
| 781,097 | Oracle Corp | 54,575 | ||||||||
| 41,005 | * | Pagerduty, Inc | 1,016 | |||||||
| 933,059 | * | Palantir Technologies, Inc | 8,463 | |||||||
| 49,982 | * | Palo Alto Networks, Inc | 24,688 | |||||||
| 44,842 | * | Paya Holdings, Inc | 295 | |||||||
| 164,950 | Paychex, Inc | 18,783 | ||||||||
| 26,407 | * | Paycom Software, Inc | 7,397 | |||||||
| 11,105 | *,e | Paycor HCM, Inc | 289 | |||||||
| 20,584 | * | Paylocity Holding Corp | 3,590 | |||||||
| 110,964 | * | Payoneer Global, Inc | 435 | |||||||
| 597,795 | * | PayPal Holdings, Inc | 41,750 | |||||||
| 225,806 | *,e | Paysafe Ltd | 440 | |||||||
| 22,404 | Pegasystems, Inc | 1,072 | ||||||||
| 17,663 | * | Perficient, Inc | 1,620 | |||||||
| 8,474 | * | PFSweb, Inc | 100 | |||||||
| 23,740 | * | Ping Identity Holding Corp | 431 | |||||||
| 301 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 31,944 | * | Procore Technologies, Inc | $ | 1,450 | ||||||
| 23,997 | Progress Software Corp | 1,087 | ||||||||
| 19,034 | * | PROS Holdings, Inc | 499 | |||||||
| 52,897 | * | PTC, Inc | 5,625 | |||||||
| 29,530 | * | Q2 Holdings, Inc | 1,139 | |||||||
| 18,605 | * | Qualys, Inc | 2,347 | |||||||
| 19,217 | *,e | Rackspace Technology, Inc | 138 | |||||||
| 31,056 | * | Rapid7, Inc | 2,075 | |||||||
| 43,126 | * | Remitly Global, Inc | 330 | |||||||
| 42,004 | * | Repay Holdings Corp | 540 | |||||||
| 24,959 | * | Rimini Street, Inc | 150 | |||||||
| 44,149 | * | RingCentral, Inc | 2,307 | |||||||
| 38,880 | *,e | Riot Blockchain, Inc | 163 | |||||||
| 53,965 | Roper Technologies, Inc | 21,297 | ||||||||
| 186,641 | * | Sabre Corp | 1,088 | |||||||
| 44,538 | * | SailPoint Technologies Holding, Inc | 2,792 | |||||||
| 496,945 | * | salesforce.com, Inc | 82,016 | |||||||
| 15,268 | Sapiens International Corp NV | 369 | ||||||||
| 4,599 | * | SecureWorks Corp | 50 | |||||||
| 88,419 | * | SentinelOne, Inc | 2,063 | |||||||
| 103,386 | * | ServiceNow, Inc | 49,162 | |||||||
| 23,585 | * | Shift4 Payments, Inc | 780 | |||||||
| 4,906 | * | ShotSpotter, Inc | 132 | |||||||
| 41,609 | * | Skillsoft Corp | 146 | |||||||
| 66,115 | * | Smartsheet, Inc | 2,078 | |||||||
| 101,151 | * | Snowflake, Inc | 14,066 | |||||||
| 19,169 | SolarWinds Corp | 196 | ||||||||
| 85,374 | * | Splunk, Inc | 7,552 | |||||||
| 24,107 | * | Sprout Social, Inc | 1,400 | |||||||
| 19,690 | * | SPS Commerce, Inc | 2,226 | |||||||
| 16,060 | *,e | Squarespace, Inc | 336 | |||||||
| 111,085 | SS&C Technologies Holdings, Inc | 6,451 | ||||||||
| 120,616 | * | StoneCo Ltd | 929 | |||||||
| 44,512 | * | Sumo Logic, Inc | 333 | |||||||
| 70,963 | * | SVMK, Inc | 624 | |||||||
| 74,570 | Switch, Inc | 2,498 | ||||||||
| 78,737 | * | Synopsys, Inc | 23,912 | |||||||
| 21,512 | * | Telos Corp | 174 | |||||||
| 49,510 | * | Tenable Holdings, Inc | 2,248 | |||||||
| 51,680 | * | Teradata Corp | 1,913 | |||||||
| 116,597 | * | Toast, Inc | 1,509 | |||||||
| 226,382 | * | Trade Desk, Inc | 9,483 | |||||||
| 10,054 | TTEC Holdings, Inc | 683 | ||||||||
| 6,516 | *,e | Tucows, Inc | 290 | |||||||
| 22,872 | * | Turing Holding Corp | 323 | |||||||
| 85,658 | * | Twilio, Inc | 7,179 | |||||||
| 21,091 | * | Tyler Technologies, Inc | 7,012 | |||||||
| 192,445 | * | UiPath, Inc | 3,501 | |||||||
| 38,674 | * | Unisys Corp | 465 | |||||||
| 107,430 | *,e | Unity Software, Inc | 3,956 | |||||||
| 15,606 | * | Upland Software, Inc | 227 | |||||||
| 24,261 | *,e | UserTesting, Inc | 122 | |||||||
| 56,469 | * | Varonis Systems, Inc | 1,656 | |||||||
| 35,164 | * | Verint Systems, Inc | 1,489 | |||||||
| 302 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 49,603 | * | VeriSign, Inc | $ | 8,300 | ||||||
| 13,662 | *,e | Veritone, Inc | 89 | |||||||
| 63,620 | * | Verra Mobility Corp | 999 | |||||||
| 6,012 | * | Viant Technology, Inc | 31 | |||||||
| 847,129 | Visa, Inc (Class A) | 166,791 | ||||||||
| 107,776 | VMware, Inc (Class A) | 12,284 | ||||||||
| 119,804 | * | Vonage Holdings Corp | 2,257 | |||||||
| 198,450 | Western Union Co | 3,268 | ||||||||
| 24,535 | * | WEX, Inc | 3,817 | |||||||
| 29,289 | * | Wix.com Ltd | 1,920 | |||||||
| 36,785 | * | WM Technology, Inc | 121 | |||||||
| 100,015 | * | Workday, Inc | 13,960 | |||||||
| 22,930 | * | Workiva, Inc | 1,513 | |||||||
| 57,275 | Xperi Holding Corp | 826 | ||||||||
| 55,032 | * | Yext, Inc | 263 | |||||||
| 60,907 | * | Zendesk, Inc | 4,511 | |||||||
| 130,278 | * | Zoom Video Communications, Inc | 14,066 | |||||||
| 41,021 | * | Zscaler, Inc | 6,133 | |||||||
| 55,037 | * | Zuora Inc | 493 | |||||||
| TOTAL SOFTWARE & SERVICES | 2,638,902 | |||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 7.3% | ||||||||||
| 66,252 | * | 3D Systems Corp | 643 | |||||||
| 6,963 | *,e | 908 Devices, Inc | 143 | |||||||
| 35,649 | Adtran, Inc | 625 | ||||||||
| 20,999 | Advanced Energy Industries, Inc | 1,532 | ||||||||
| 41,314 | *,e | Aeva Technologies, Inc | 129 | |||||||
| 18,515 | *,e | Akoustis Technologies, Inc | 68 | |||||||
| 300,825 | Amphenol Corp (Class A) | 19,367 | ||||||||
| 7,886,739 | Apple, Inc | 1,078,275 | ||||||||
| 128,607 | * | Arista Networks, Inc | 12,056 | |||||||
| 47,303 | * | Arlo Technologies, Inc | 297 | |||||||
| 32,986 | * | Arrow Electronics, Inc | 3,697 | |||||||
| 5,662 | * | Aviat Networks, Inc | 142 | |||||||
| 24,161 | * | Avid Technology, Inc | 627 | |||||||
| 46,118 | Avnet, Inc | 1,977 | ||||||||
| 15,939 | Badger Meter, Inc | 1,289 | ||||||||
| 24,142 | Belden CDT, Inc | 1,286 | ||||||||
| 19,531 | Benchmark Electronics, Inc | 441 | ||||||||
| 28,887 | * | Calix, Inc | 986 | |||||||
| 4,889 | * | Cambium Networks Corp | 72 | |||||||
| 9,824 | * | Casa Systems, Inc | 39 | |||||||
| 69,884 | CDW Corp | 11,011 | ||||||||
| 79,273 | * | Ciena Corp | 3,623 | |||||||
| 2,146,928 | Cisco Systems, Inc | 91,545 | ||||||||
| 8,964 | * | Clearfield, Inc | 555 | |||||||
| 93,925 | Cognex Corp | 3,994 | ||||||||
| 11,456 | * | Coherent, Inc | 3,050 | |||||||
| 115,638 | * | CommScope Holding Co, Inc | 708 | |||||||
| 16,237 | Comtech Telecommunications Corp | 147 | ||||||||
| 389,788 | Corning, Inc | 12,282 | ||||||||
| 8,680 | *,e | Corsair Gaming, Inc | 114 | |||||||
| 17,421 | CTS Corp | 593 | ||||||||
| 136,382 | Dell Technologies, Inc | 6,302 | ||||||||
| 303 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 18,652 | * | Digi International, Inc | $ | 452 | ||||||
| 9,167 | * | DZS, Inc | 149 | |||||||
| 24,605 | *,e | Eastman Kodak Co | 114 | |||||||
| 18,556 | * | ePlus, Inc | 986 | |||||||
| 43,075 | * | Evolv Technologies Holdings, Inc | 115 | |||||||
| 79,396 | * | Extreme Networks, Inc | 708 | |||||||
| 30,171 | * | F5 Networks, Inc | 4,617 | |||||||
| 20,485 | * | Fabrinet | 1,661 | |||||||
| 9,925 | * | FARO Technologies, Inc | 306 | |||||||
| 9,076 | *,e | Focus Universal, Inc | 104 | |||||||
| 58,321 | * | Harmonic, Inc | 506 | |||||||
| 670,009 | Hewlett Packard Enterprise Co | 8,884 | ||||||||
| 543,713 | HP, Inc | 17,823 | ||||||||
| 11,473 | * | Identiv, Inc | 133 | |||||||
| 57,079 | *,e | II-VI, Inc | 2,908 | |||||||
| 103,799 | *,e | Infinera Corp | 556 | |||||||
| 40,550 | *,e | Inseego Corp | 77 | |||||||
| 14,981 | * | Insight Enterprises, Inc | 1,293 | |||||||
| 60,908 | *,e | IonQ, Inc | 267 | |||||||
| 19,271 | * | IPG Photonics Corp | 1,814 | |||||||
| 24,355 | * | Itron, Inc | 1,204 | |||||||
| 59,846 | Jabil Inc | 3,065 | ||||||||
| 163,210 | Juniper Networks, Inc | 4,651 | ||||||||
| 91,514 | * | Keysight Technologies, Inc | 12,615 | |||||||
| 21,162 | * | Kimball Electronics, Inc | 425 | |||||||
| 28,141 | * | Knowles Corp | 488 | |||||||
| 57,291 | *,e | Lightwave Logic, Inc | 375 | |||||||
| 13,151 | Littelfuse, Inc | 3,341 | ||||||||
| 36,595 | * | Lumentum Holdings, Inc | 2,906 | |||||||
| 20,833 | Methode Electronics, Inc | 772 | ||||||||
| 86,400 | *,e | Microvision, Inc | 332 | |||||||
| 70,213 | * | Mirion Technologies, Inc | 404 | |||||||
| 84,744 | Motorola Solutions, Inc | 17,762 | ||||||||
| 15,874 | * | Napco Security Technologies, Inc | 327 | |||||||
| 72,088 | National Instruments Corp | 2,251 | ||||||||
| 118,594 | NetApp, Inc | 7,737 | ||||||||
| 16,454 | * | Netgear, Inc | 305 | |||||||
| 43,446 | * | Netscout Systems, Inc | 1,471 | |||||||
| 20,535 | * | nLight, Inc | 210 | |||||||
| 18,332 | * | Novanta, Inc | 2,223 | |||||||
| 17,528 | * | Ondas Holdings, Inc | 94 | |||||||
| 9,244 | * | OSI Systems, Inc | 790 | |||||||
| 15,844 | *,e | Ouster, Inc | 26 | |||||||
| 12,941 | *,e | PAR Technology Corp | 485 | |||||||
| 8,216 | PC Connection, Inc | 362 | ||||||||
| 18,613 | * | Plantronics, Inc | 739 | |||||||
| 17,083 | * | Plexus Corp | 1,341 | |||||||
| 145,102 | * | Pure Storage, Inc | 3,731 | |||||||
| 1 | * | Quantum Corp | 0 | ^ | ||||||
| 37,508 | * | Ribbon Communications, Inc | 114 | |||||||
| 8,376 | * | Rogers Corp | 2,195 | |||||||
| 36,299 | * | Sanmina Corp | 1,478 | |||||||
| 17,777 | * | Scansource, Inc | 554 | |||||||
| 61,017 | *,e | SmartRent, Inc | 276 | |||||||
| 304 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 26,460 | * | Super Micro Computer, Inc | $ | 1,068 | ||||||
| 19,067 | SYNNEX Corp | 1,737 | ||||||||
| 24,117 | * | Teledyne Technologies, Inc | 9,046 | |||||||
| 129,908 | * | Trimble Inc | 7,564 | |||||||
| 51,948 | * | TTM Technologies, Inc | 649 | |||||||
| 8,166 | *,e | Turtle Beach Corp | 100 | |||||||
| 3,604 | e | Ubiquiti, Inc | 895 | |||||||
| 38,579 | *,e | Velodyne Lidar, Inc | 37 | |||||||
| 34,027 | * | Viasat, Inc | 1,042 | |||||||
| 136,006 | * | Viavi Solutions, Inc | 1,799 | |||||||
| 52,971 | Vishay Intertechnology, Inc | 944 | ||||||||
| 9,508 | * | Vishay Precision Group, Inc | 277 | |||||||
| 92,880 | Vontier Corp | 2,135 | ||||||||
| 155,579 | * | Western Digital Corp | 6,975 | |||||||
| 58,625 | Xerox Holdings Corp | 871 | ||||||||
| 27,748 | * | Zebra Technologies Corp (Class A) | 8,156 | |||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT | 1,419,432 | |||||||||
| TELECOMMUNICATION SERVICES - 1.3% | ||||||||||
| 7,472 | * | Anterix, Inc | 307 | |||||||
| 3,697,005 | AT&T, Inc | 77,489 | ||||||||
| 7,918 | ATN International, Inc | 371 | ||||||||
| 12,460 | * | Bandwidth Inc | 235 | |||||||
| 55,430 | *,e | Charge Enterprises, Inc | 264 | |||||||
| 25,280 | Cogent Communications Group, Inc | 1,536 | ||||||||
| 48,355 | * | Consolidated Communications Holdings, Inc | 339 | |||||||
| 22,558 | * | EchoStar Corp (Class A) | 435 | |||||||
| 126,319 | * | Frontier Communications Parent, Inc | 2,974 | |||||||
| 331,269 | *,e | Globalstar, Inc | 407 | |||||||
| 13,459 | * | Gogo, Inc | 218 | |||||||
| 11,096 | * | IDT Corp (Class B) | 279 | |||||||
| 60,764 | * | Iridium Communications, Inc | 2,282 | |||||||
| 29,453 | * | Liberty Latin America Ltd (Class A) | 230 | |||||||
| 84,348 | * | Liberty Latin America Ltd (Class C) | 657 | |||||||
| 529,866 | Lumen Technologies, Inc | 5,781 | ||||||||
| 13,047 | * | Ooma, Inc | 154 | |||||||
| 23,995 | * | Radius Global Infrastructure, Inc | 366 | |||||||
| 26,373 | Shenandoah Telecom Co | 586 | ||||||||
| 55,138 | Telephone & Data Systems, Inc | 871 | ||||||||
| 306,308 | * | T-Mobile US, Inc | 41,211 | |||||||
| 9,529 | * | US Cellular Corp | 276 | |||||||
| 2,170,291 | Verizon Communications, Inc | 110,142 | ||||||||
| TOTAL TELECOMMUNICATION SERVICES | 247,410 | |||||||||
| TRANSPORTATION - 1.8% | ||||||||||
| 37,928 | * | Air Transport Services Group, Inc | 1,090 | |||||||
| 60,779 | * | Alaska Air Group, Inc | 2,434 | |||||||
| 8,270 | * | Allegiant Travel Co | 935 | |||||||
| 4,307 | Amerco, Inc | 2,060 | ||||||||
| 347,869 | *,e | American Airlines Group, Inc | 4,411 | |||||||
| 13,812 | ArcBest Corp | 972 | ||||||||
| 9,879 | * | Atlas Air Worldwide Holdings, Inc | 610 | |||||||
| 15,336 | * | Avis Budget Group, Inc | 2,256 | |||||||
| 28,768 | * | Blade Air Mobility, Inc | 128 | |||||||
| 305 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 67,597 | CH Robinson Worldwide, Inc | $ | 6,852 | |||||||
| 11,515 | * | Copa Holdings S.A. (Class A) | 730 | |||||||
| 23,634 | Costamare, Inc | 286 | ||||||||
| 8,672 | Covenant Transportation Group, Inc | 218 | ||||||||
| 1,121,488 | CSX Corp | 32,590 | ||||||||
| 14,173 | * | Daseke, Inc | 91 | |||||||
| 335,131 | * | Delta Air Lines, Inc | 9,709 | |||||||
| 4,116 | e | Eagle Bulk Shipping, Inc | 213 | |||||||
| 85,367 | Expeditors International of Washington, Inc | 8,320 | ||||||||
| 123,936 | FedEx Corp | 28,097 | ||||||||
| 14,836 | Forward Air Corp | 1,364 | ||||||||
| 18,987 | *,e | Frontier Group Holdings, Inc | 178 | |||||||
| 17,525 | Genco Shipping & Trading Ltd | 339 | ||||||||
| 62,934 | Golden Ocean Group Ltd | 733 | ||||||||
| 50,638 | * | GXO Logistics, Inc | 2,191 | |||||||
| 27,588 | *,e | Hawaiian Holdings, Inc | 395 | |||||||
| 26,012 | Heartland Express, Inc | 362 | ||||||||
| 120,260 | * | Hertz Global Holdings, Inc | 1,905 | |||||||
| 18,067 | * | Hub Group, Inc (Class A) | 1,282 | |||||||
| 43,796 | JB Hunt Transport Services, Inc | 6,897 | ||||||||
| 173,855 | * | JetBlue Airways Corp | 1,455 | |||||||
| 128,773 | *,e | Joby Aviation, Inc | 632 | |||||||
| 32,726 | * | Kirby Corp | 1,991 | |||||||
| 79,606 | Knight-Swift Transportation Holdings, Inc | 3,685 | ||||||||
| 20,412 | Landstar System, Inc | 2,968 | ||||||||
| 154,071 | * | Lyft, Inc (Class A) | 2,046 | |||||||
| 34,852 | Marten Transport Ltd | 586 | ||||||||
| 20,555 | Matson, Inc | 1,498 | ||||||||
| 122,776 | Norfolk Southern Corp | 27,906 | ||||||||
| 52,587 | Old Dominion Freight Line | 13,477 | ||||||||
| 29,335 | * | Radiant Logistics, Inc | 218 | |||||||
| 25,040 | Ryder System, Inc | 1,779 | ||||||||
| 33,371 | Safe Bulkers, Inc | 127 | ||||||||
| 13,620 | * | Saia, Inc | 2,561 | |||||||
| 22,723 | Schneider National, Inc | 508 | ||||||||
| 28,022 | * | Skywest, Inc | 595 | |||||||
| 299,691 | * | Southwest Airlines Co | 10,825 | |||||||
| 50,261 | * | Spirit Airlines, Inc | 1,198 | |||||||
| 9,455 | * | Sun Country Airlines Holdings, Inc | 173 | |||||||
| 71,175 | *,e | TuSimple Holdings, Inc | 515 | |||||||
| 975,524 | * | Uber Technologies, Inc | 19,959 | |||||||
| 321,382 | Union Pacific Corp | 68,544 | ||||||||
| 166,987 | * | United Airlines Holdings Inc | 5,915 | |||||||
| 378,395 | United Parcel Service, Inc (Class B) | 69,072 | ||||||||
| 6,297 | Universal Logistics Holdings Inc | 172 | ||||||||
| 36,247 | Werner Enterprises, Inc | 1,397 | ||||||||
| 81,596 | * | Wheels Up Experience, Inc | 159 | |||||||
| 52,508 | * | XPO Logistics, Inc | 2,529 | |||||||
| TOTAL TRANSPORTATION | 360,138 | |||||||||
| UTILITIES - 3.0% | ||||||||||
| 344,146 | AES Corp | 7,231 | ||||||||
| 29,387 | Allete, Inc | 1,727 | ||||||||
| 129,301 | Alliant Energy Corp | 7,578 | ||||||||
| 306 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||
| 21,469 | *,e | Altus Power, Inc | $ | 135 | ||||||
| 128,677 | Ameren Corp | 11,627 | ||||||||
| 264,131 | American Electric Power Co, Inc | 25,341 | ||||||||
| 20,132 | American States Water Co | 1,641 | ||||||||
| 95,298 | American Water Works Co, Inc | 14,178 | ||||||||
| 4,909 | Artesian Resources Corp | 241 | ||||||||
| 69,836 | Atmos Energy Corp | 7,829 | ||||||||
| 36,552 | e | Avangrid, Inc | 1,686 | |||||||
| 33,562 | Avista Corp | 1,460 | ||||||||
| 34,402 | Black Hills Corp | 2,503 | ||||||||
| 44,523 | e | Brookfield Infrastructure Corp | 1,892 | |||||||
| 72,027 | Brookfield Renewable Corp | 2,565 | ||||||||
| 27,522 | California Water Service Group | 1,529 | ||||||||
| 325,046 | Centerpoint Energy, Inc | 9,615 | ||||||||
| 9,405 | Chesapeake Utilities Corp | 1,218 | ||||||||
| 10,556 | Clearway Energy, Inc (Class A) | 337 | ||||||||
| 47,061 | Clearway Energy, Inc (Class C) | 1,640 | ||||||||
| 148,205 | CMS Energy Corp | 10,004 | ||||||||
| 182,270 | Consolidated Edison, Inc | 17,334 | ||||||||
| 172,613 | Constellation Energy Corp | 9,884 | ||||||||
| 416,100 | Dominion Energy, Inc | 33,209 | ||||||||
| 98,822 | DTE Energy Co | 12,526 | ||||||||
| 397,553 | Duke Energy Corp | 42,622 | ||||||||
| 195,908 | Edison International | 12,389 | ||||||||
| 106,399 | Entergy Corp | 11,985 | ||||||||
| 120,688 | Essential Utilities Inc | 5,534 | ||||||||
| 112,667 | Evergy, Inc | 7,352 | ||||||||
| 177,794 | Eversource Energy | 15,018 | ||||||||
| 505,635 | Exelon Corp | 22,915 | ||||||||
| 276,167 | FirstEnergy Corp | 10,602 | ||||||||
| 6,410 | Global Water Resources, Inc | 85 | ||||||||
| 56,097 | Hawaiian Electric Industries, Inc | 2,294 | ||||||||
| 23,041 | Idacorp, Inc | 2,441 | ||||||||
| 15,195 | MGE Energy, Inc | 1,183 | ||||||||
| 11,759 | Middlesex Water Co | 1,031 | ||||||||
| 33,009 | * | Montauk Renewables, Inc | 332 | |||||||
| 44,613 | National Fuel Gas Co | 2,947 | ||||||||
| 52,723 | New Jersey Resources Corp | 2,348 | ||||||||
| 1,013,777 | NextEra Energy, Inc | 78,527 | ||||||||
| 209,437 | NiSource, Inc | 6,176 | ||||||||
| 14,483 | Northwest Natural Holding Co | 769 | ||||||||
| 27,636 | NorthWestern Corp | 1,629 | ||||||||
| 124,183 | NRG Energy, Inc | 4,740 | ||||||||
| 96,380 | OGE Energy Corp | 3,716 | ||||||||
| 27,567 | ONE Gas, Inc | 2,238 | ||||||||
| 24,734 | e | Ormat Technologies, Inc | 1,938 | |||||||
| 16,819 | Otter Tail Corp | 1,129 | ||||||||
| 800,219 | *,b | PG&E Corp | 7,986 | |||||||
| 55,268 | Pinnacle West Capital Corp | 4,041 | ||||||||
| 31,359 | PNM Resources, Inc | 1,498 | ||||||||
| 40,332 | Portland General Electric Co | 1,949 | ||||||||
| 390,063 | PPL Corp | 10,582 | ||||||||
| 256,899 | Public Service Enterprise Group, Inc | 16,257 | ||||||||
| 11,616 | * | Pure Cycle Corp | 122 | |||||||
| 307 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | VALUE (000) | ||||||||||||||
| 162,307 | Sempra Energy | $ | 24,390 | |||||||||||||
| 12,005 | SJW Corp | 749 | ||||||||||||||
| 58,642 | South Jersey Industries, Inc | 2,002 | ||||||||||||||
| 547,625 | Southern Co | 39,051 | ||||||||||||||
| 31,668 | Southwest Gas Holdings Inc | 2,758 | ||||||||||||||
| 21,354 | Spire, Inc | 1,588 | ||||||||||||||
| 46,961 | * | Sunnova Energy International, Inc | 866 | |||||||||||||
| 105,006 | UGI Corp | 4,054 | ||||||||||||||
| 10,272 | Unitil Corp | 603 | ||||||||||||||
| 7,544 | e | Via Renewables, Inc | 58 | |||||||||||||
| 219,879 | Vistra Energy Corp | 5,024 | ||||||||||||||
| 159,399 | WEC Energy Group, Inc | 16,042 | ||||||||||||||
| 280,885 | Xcel Energy, Inc | 19,875 | ||||||||||||||
| 9,006 | York Water Co | 364 | ||||||||||||||
| TOTAL UTILITIES | 586,729 | |||||||||||||||
| TOTAL COMMON STOCKS | 19,384,653 | |||||||||||||||
| (Cost $7,858,225) | ||||||||||||||||
| RIGHTS / WARRANTS - 0.0% | ||||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0% | ||||||||||||||||
| 7,917 | † | Chinook Therapeutics, Inc | 0 | |||||||||||||
| 6,981 | † | Tobira Therapeutics, Inc | 0 | ^ | ||||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 0 | ^ | ||||||||||||||
| TOTAL RIGHTS / WARRANTS | 0 | ^ | ||||||||||||||
| (Cost $0) | ||||||||||||||||
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | |||||||||||||
| SHORT-TERM INVESTMENTS - 1.2% | ||||||||||||||||
| GOVERNMENT AGENCY DEBT - 0.0% | ||||||||||||||||
| $ | 10,000,000 | Federal Farm Credit Bank (FFCB) | 0.000 | % | 07/15/22 | 9,995 | ||||||||||
| TOTAL GOVERNMENT AGENCY DEBT | 9,995 | |||||||||||||||
| REPURCHASE AGREEMENT - 0.3% | ||||||||||||||||
| 63,745,000 | r | Fixed Income Clearing Corp (FICC) | 1.450 | 07/01/22 | 63,745 | |||||||||||
| TOTAL REPURCHASE AGREEMENT | 63,745 | |||||||||||||||
| TREASURY DEBT - 0.1% | ||||||||||||||||
| 10,000,000 | United States Cash Management Bill | 0.000 | 07/05/22 | 9,999 | ||||||||||||
| TOTAL TREASURY DEBT | 9,999 | |||||||||||||||
| 308 |
COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account
| SHARES | COMPANY | RATE | VALUE (000) | |||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.8% | ||||||||||||||||
| 155,625,754 | c | State Street Navigator Securities Lending Government Money Market Portfolio | 1.540 | % | $ | 155,626 | ||||||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | 155,626 | |||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | 239,365 | |||||||||||||||
| (Cost $239,365) | ||||||||||||||||
| TOTAL INVESTMENTS - 100.6% | 19,624,018 | |||||||||||||||
| (Cost $8,097,590) | ||||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - (0.6)% | (117,410 | ) | ||||||||||||||
| NET ASSETS - 100.0% | $ | 19,506,608 | ||||||||||||||
| REIT | Real Estate Investment Trust | |||||||||||||||
| ^ | Amount represents less than $1,000. | |||||||||||||||
| * | Non-income producing | |||||||||||||||
| † | Security is categorized as Level 3 in the fair value hierarchy. | |||||||||||||||
| b | In bankruptcy | |||||||||||||||
| c | Investments made with cash collateral received from securities on loan. | |||||||||||||||
| d | All or a portion of these securities have been segregated to cover margin requirements on open futures contracts. | |||||||||||||||
| e | All or a portion of these securities are out on loan. The aggregate value of securities on loan is $193,609,744. | |||||||||||||||
| r | Agreement with Fixed Income Clearing Corp (FICC), 1.450% dated 6/30/22 to be repurchased at $63,745,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rates 0.375%–0.625% and maturity dates 12/31/25–1/15/26, valued at $65,019,988. | |||||||||||||||
| Cost amounts are in thousands. | ||||||||||||||||
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Description | Number of long (short) contracts | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation) | |||||||||||||||
| S&P 500 E Mini Index | 552 | 09/16/22 | $ | 110,519 | $ | 104,590 | $ | (5,929 | ) | |||||||||||
| 309 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
COLLEGE RETIREMENT EQUITIES FUND
CORE BOND ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2022
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| BANK LOAN OBLIGATIONS - 0.7% | ||||||||||||||||||
| AUTOMOBILES & COMPONENTS - 0.0% | ||||||||||||||||||
| $ | 813,120 | i | Adient US LLC | LIBOR 1M + 3.250% | 4.916 | % | 04/10/28 | $ | 755 | |||||||||
| 847,326 | i | Clarios Global LP | LIBOR 1M + 3.250% | 4.916 | 04/30/26 | 789 | ||||||||||||
| 1,998,339 | i | Gates Global LLC | LIBOR 1M + 2.500% | 4.166 | 03/31/27 | 1,881 | ||||||||||||
| TOTAL AUTOMOBILES & COMPONENTS | 3,425 | |||||||||||||||||
| CAPITAL GOODS - 0.1% | ||||||||||||||||||
| 174,057 | i | Avolon TLB Borrower US LLC | LIBOR 1M + 1.750% | 3.345 | 01/15/25 | 166 | ||||||||||||
| 219,938 | i | Avolon TLB Borrower US LLC | LIBOR 1 M + 1.500% | 3.095 | 02/12/27 | 207 | ||||||||||||
| 803,543 | i | Beacon Roofing Supply, Inc | LIBOR 1M + 2.250% | 3.916 | 05/19/28 | 765 | ||||||||||||
| 836,396 | i | Cornerstone Building Brands, Inc | LIBOR 1M + 3.250% | 4.574 | 04/12/28 | 690 | ||||||||||||
| 473,916 | i | Prometric Holdings Inc | LIBOR 1M + 3.000% | 4.670 | 01/29/25 | 439 | ||||||||||||
| 1,344,422 | i | TransDigm, Inc | LIBOR 1M + 2.250% | 3.916 | 08/22/24 | 1,294 | ||||||||||||
| 1,462,529 | i | TransDigm, Inc | LIBOR 1M + 2.250% | 3.310 | 05/30/25 | 1,387 | ||||||||||||
| TOTAL CAPITAL GOODS | 4,948 | |||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.1% | ||||||||||||||||||
| 643,500 | i | AECOM | LIBOR 1M + 1.750% | 3.416 | 04/13/28 | 641 | ||||||||||||
| 1,591,023 | i | GFL Environmental, Inc | 3.500 | 05/31/25 | 1,548 | |||||||||||||
| 2,505,668 | i | Prime Security Services Borrower LLC | LIBOR 3M + 2.750% | 3.500 | 09/23/26 | 2,334 | ||||||||||||
| 762,300 | i | Spin Holdco, Inc | LIBOR 3M + 4.000% | 5.611 | 03/04/28 | 700 | ||||||||||||
| 4,017,578 | i | Trans Union LLC | LIBOR 1M + 2.250% | 3.916 | 12/01/28 | 3,823 | ||||||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 9,046 | |||||||||||||||||
| CONSUMER DURABLES & APPAREL - 0.0% | ||||||||||||||||||
| 387,198 | i | Samsonite IP Holdings Sarl | LIBOR 1M + 1.750% | 3.416 | 04/25/25 | 369 | ||||||||||||
| TOTAL CONSUMER DURABLES & APPAREL | 369 | |||||||||||||||||
| CONSUMER SERVICES - 0.1% | ||||||||||||||||||
| 435,833 | i | 1011778 BC ULC | LIBOR 1M + 1.750% | 3.416 | 11/19/26 | 415 | ||||||||||||
| 1,189,025 | i | Carnival Corp | LIBOR 3M + 3.250% | 6.127 | 10/18/28 | 1,064 | ||||||||||||
| 493,750 | i | IRB Holding Corp | SOFR 1M + 3.000% | 4.238 | 12/15/27 | 463 | ||||||||||||
| 1,300,268 | i | KFC Holding Co | LIBOR 1M + 1.750% | 3.345 | 03/09/28 | 1,281 | ||||||||||||
| 1,559,280 | i | Sophia LP | LIBOR 1 M + 3.750% | 4.256 | 10/07/27 | 1,451 | ||||||||||||
| 1,985,000 | i | Stars Group Holdings BV | LIBOR 3M + 2.250% | 4.500 | 07/21/26 | 1,884 | ||||||||||||
| TOTAL CONSUMER SERVICES | 6,558 | |||||||||||||||||
| DIVERSIFIED FINANCIALS - 0.0% | ||||||||||||||||||
| 856,027 | i | Lions Gate Capital Holdings LLC | LIBOR 1M + 2.250% | 3.916 | 03/24/25 | 826 | ||||||||||||
| 1,748,375 | i | Reynolds Group Holdings, Inc | LIBOR 1M + 3.250% | 4.916 | 02/05/26 | 1,627 | ||||||||||||
| TOTAL DIVERSIFIED FINANCIALS | 2,453 | |||||||||||||||||
| ENERGY - 0.0% | ||||||||||||||||||
| 1,955,225 | i | Buckeye Partners LP | LIBOR 1M + 2.250% | 3.916 | 11/01/26 | 1,866 | ||||||||||||
| 1,944,406 | i | Delek US Holdings, Inc | LIBOR 1M + 2.250% | 3.916 | 03/31/25 | 1,857 | ||||||||||||
| 257,567 | i | DT Midstream, Inc | LIBOR 1M + 2.000% | 3.688 | 06/26/28 | 256 | ||||||||||||
| TOTAL ENERGY | 3,979 | |||||||||||||||||
| 310 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| FOOD, BEVERAGE & TOBACCO - 0.0% | ||||||||||||||||||
| $ | 589,500 | i | Chobani LLC | LIBOR 1M + 3.500% | 5.166 | % | 10/20/27 | $ | 533 | |||||||||
| 877,444 | i | Hostess Brands LLC | LIBOR 3M + 2.250% | 3.489 | 08/01/25 | 839 | ||||||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO | 1,372 | |||||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 0.1% | ||||||||||||||||||
| 492,010 | i | Change Healthcare Holdings LLC | LIBOR 1M + 2.500% | 4.166 | 03/01/24 | 478 | ||||||||||||
| 2,186,617 | i | Da Vinci Purchaser Corp | LIBOR 3M + 4.000% | 5.006 | 01/08/27 | 2,066 | ||||||||||||
| 972,563 | i | DaVita, Inc | LIBOR 1M + 1.750% | 3.416 | 08/12/26 | 899 | ||||||||||||
| 411,449 | i | Grifols Worldwide Operations USA, Inc | LIBOR 1M + 2.000% | 3.666 | 11/15/27 | 388 | ||||||||||||
| 2,012,842 | i | RegionalCare Hospital Partners Holdings, Inc | LIBOR 1M + 3.750% | 4.250 | 11/16/25 | 1,874 | ||||||||||||
| 2,920,100 | i | Select Medical Corp | LIBOR 1M + 2.500% | 4.170 | 03/06/25 | 2,789 | ||||||||||||
| 990,542 | i | Team Health Holdings, Inc | SOFR 1M + 5.250% | 6.284 | 03/02/27 | 828 | ||||||||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 9,322 | |||||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 0.0% | ||||||||||||||||||
| 586,467 | i | Weber-Stephen Products LLC | LIBOR 1M + 3.250% | 4.916 | 10/29/27 | 531 | ||||||||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS | 531 | |||||||||||||||||
| INSURANCE - 0.0% | ||||||||||||||||||
| 148,875 | i | Alliant Holdings Intermediate LLC | LIBOR 1M + 3.500% | 5.009 | 11/05/27 | 138 | ||||||||||||
| 1,955,000 | i | NFP Corp | LIBOR 1M + 3.250% | 4.916 | 02/15/27 | 1,803 | ||||||||||||
| 2,436,061 | i | USI, Inc | LIBOR 3M + 3.000% | 5.250 | 05/16/24 | 2,331 | ||||||||||||
| TOTAL INSURANCE | 4,272 | |||||||||||||||||
| MATERIALS - 0.1% | ||||||||||||||||||
| 1,719,375 | i | Asplundh Tree Expert LLC | LIBOR 1M + 1.750% | 3.416 | 09/07/27 | 1,656 | ||||||||||||
| 1,288,578 | i | Berry Global, Inc | LIBOR 1M + 1.750% | 3.005 | 07/01/26 | 1,242 | ||||||||||||
| 296,580 | i | Messer Industries USA, Inc | LIBOR 3M + 2.500% | 4.750 | 03/01/26 | 283 | ||||||||||||
| 853,437 | i | PolyOne Corp | LIBOR 1M + 1.750% | 3.416 | 01/30/26 | 847 | ||||||||||||
| 299,701 | i | Reynolds Consumer Products LLC | LIBOR 1M + 1.750% | 3.416 | 02/04/27 | 288 | ||||||||||||
| 1,173,100 | i | Tamko Building Products, Inc | LIBOR 3M + 3.000% | 4.239 | 05/29/26 | 1,095 | ||||||||||||
| 144,275 | i | WR Grace Holdings LLC | LIBOR 3M + 3.750% | 6.063 | 09/22/28 | 137 | ||||||||||||
| TOTAL MATERIALS | 5,548 | |||||||||||||||||
| MEDIA & ENTERTAINMENT - 0.1% | ||||||||||||||||||
| 1,631,929 | i | Alliance Laundry Systems LLC | LIBOR 3M + 3.500% | 4.521 | 10/08/27 | 1,547 | ||||||||||||
| 344,750 | i | Arterra Wines Canada, Inc | LIBOR 3M + 3.500% | 5.750 | 11/19/27 | 321 | ||||||||||||
| 418,625 | i | Cablevision Lightpath LLC | LIBOR 1M + 3.250% | 4.574 | 11/30/27 | 394 | ||||||||||||
| 1,945,000 | i | Charter Communications Operating LLC | LIBOR 1M + 1.750% | 3.420 | 02/01/27 | 1,850 | ||||||||||||
| 962,813 | i | CNT Holdings I Corp | LIBOR 1M + 3.500% | 4.690 | 11/08/27 | 912 | ||||||||||||
| 706,916 | i | CSC Holdings LLC | LIBOR 1M + 2.500% | 3.824 | 04/15/27 | 656 | ||||||||||||
| 142,084 | i | Diamond Sports Group LLC | SOFR 1M + 8.000% | 9.181 | 05/25/26 | 141 | ||||||||||||
| 975,000 | †,i | Diamond Sports Group LLC | LIBOR 1 M + 3.250% | 3.545 | 08/24/26 | 224 | ||||||||||||
| 1,305,500 | i | DIRECTV Financing LLC | LIBOR 1M + 5.000% | 6.666 | 08/02/27 | 1,198 | ||||||||||||
| 798,000 | i | Mozart Borrower LP | LIBOR 1M + 3.250% | 4.916 | 10/23/28 | 739 | ||||||||||||
| 319,651 | i | Nielsen Finance LLC | LIBOR 1M + 2.000% | 3.190 | 10/04/23 | 318 | ||||||||||||
| 498,750 | i | Phoenix Newco, Inc | LIBOR 1M + 3.250% | 3.750 | 11/15/28 | 467 | ||||||||||||
| 494,994 | i | Rackspace Technology Global, Inc | LIBOR 3M + 2.750% | 4.160 | 02/03/28 | 450 | ||||||||||||
| 1,572,100 | i | Radiate Holdco LLC | LIBOR 1 M + 3.250% | 4.000 | 09/25/26 | 1,458 | ||||||||||||
| 800,000 | i | SkyMiles IP Ltd | LIBOR 3M + 3.750% | 4.813 | 10/20/27 | 794 | ||||||||||||
| 311 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 1,758,301 | i | TK Elevator US Newco, Inc | LIBOR 6M + 3.500% | 4.019 | % | 07/30/27 | $ | 1,643 | |||||||||
| 2,250,000 | i | Virgin Media Bristol LLC | LIBOR 1M + 2.500% | 3.824 | 01/31/28 | 2,103 | ||||||||||||
| TOTAL MEDIA & ENTERTAINMENT | 15,215 | |||||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0% | ||||||||||||||||||
| 869,635 | i | Avantor, Inc | LIBOR 1M + 2.250% | 3.916 | 11/08/27 | 834 | ||||||||||||
| 2,450,047 | i | Catalent Pharma Solutions, Inc | LIBOR 1M + 2.000% | 3.625 | 02/22/28 | 2,410 | ||||||||||||
| 563,784 | i | Endo Luxembourg Finance Co I Sarl | LIBOR 1M + 5.000% | 6.688 | 03/27/28 | 430 | ||||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 3,674 | |||||||||||||||||
| REAL ESTATE - 0.0% | ||||||||||||||||||
| 1,351,394 | i | Cushman & Wakefield plc | LIBOR 1M + 2.750% | 4.416 | 08/21/25 | 1,269 | ||||||||||||
| TOTAL REAL ESTATE | 1,269 | |||||||||||||||||
| RETAILING - 0.0% | ||||||||||||||||||
| 914,178 | h,i | LS GROUP OPCO ACQUISITIO | LIBOR 3M + 3.250% | 4.000 | 11/02/27 | 851 | ||||||||||||
| TOTAL RETAILING | 851 | |||||||||||||||||
| SOFTWARE & SERVICES - 0.1% | ||||||||||||||||||
| 316,875 | i | Camelot Finance S.A. | LIBOR 1M + 3.000% | 4.666 | 10/30/26 | 299 | ||||||||||||
| 985,000 | i | Camelot US Acquisition | LIBOR 1M + 3.000% | 4.666 | 10/31/26 | 927 | ||||||||||||
| 662,946 | i | Hyland Software, Inc | LIBOR 1M + 3.500% | 5.166 | 07/01/24 | 638 | ||||||||||||
| 2,640,000 | h,i | NortonLifeLock, Inc | SOFR + 2.000% | 2.500 | 01/28/29 | 2,498 | ||||||||||||
| 974,811 | i | Rocket Software, Inc | LIBOR 1M + 4.250% | 5.916 | 11/28/25 | 904 | ||||||||||||
| 84,943 | i | Sabre GLBL, Inc | SOFR 1M + 4.250% | 4.750 | 06/30/28 | 80 | ||||||||||||
| 1,600,737 | i | UKG, Inc | LIBOR 3M + 3.250% | 4.212 | 05/04/26 | 1,496 | ||||||||||||
| TOTAL SOFTWARE & SERVICES | 6,842 | |||||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 0.0% | ||||||||||||||||||
| 1,146,492 | i | Plantronics, Inc | LIBOR 1M + 2.500% | 3.560 | 07/02/25 | 1,127 | ||||||||||||
| 755,472 | i | TTM Technologies, Inc | LIBOR 1M + 2.500% | 3.562 | 09/28/24 | 743 | ||||||||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT | 1,870 | |||||||||||||||||
| TELECOMMUNICATION SERVICES - 0.0% | ||||||||||||||||||
| 623,553 | i | Zayo Group Holdings, Inc | LIBOR 1M + 3.000% | 4.666 | 03/09/27 | 573 | ||||||||||||
| TOTAL TELECOMMUNICATION SERVICES | 573 | |||||||||||||||||
| TRANSPORTATION - 0.0% | ||||||||||||||||||
| 555,000 | i | Air Canada | LIBOR 3M + 3.500% | 4.250 | 08/11/28 | 509 | ||||||||||||
| 629,616 | i | American Airlines, Inc | LIBOR 3M + 2.000% | 2.840 | 12/14/23 | 608 | ||||||||||||
| TOTAL TRANSPORTATION | 1,117 | |||||||||||||||||
| UTILITIES - 0.0% | ||||||||||||||||||
| 974,037 | i | Gopher Resource LLC | LIBOR 1M + 3.250% | 4.916 | 03/06/25 | 795 | ||||||||||||
| TOTAL UTILITIES | 795 | |||||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS | 84,029 | |||||||||||||||||
| (Cost $89,708) | ||||||||||||||||||
| 312 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| BONDS - 97.1% | ||||||||||||||||||
| CORPORATE BONDS - 36.3% | ||||||||||||||||||
| AUTOMOBILES & COMPONENTS - 0.4% | ||||||||||||||||||
| EUR | 950,000 | g | Adient Global Holdings Ltd | 3.500 | % | 08/15/24 | $ | 899 | ||||||||||
| 500,000 | Aptiv plc | 1.500 | 03/10/25 | 502 | ||||||||||||||
| 500,000 | g | Dana Financing Luxembourg Sarl | 3.000 | 07/15/29 | 373 | |||||||||||||
| $ | 225,000 | Dana, Inc | 5.375 | 11/15/27 | 195 | |||||||||||||
| 350,000 | e | Dana, Inc | 5.625 | 06/15/28 | 301 | |||||||||||||
| 11,000,000 | General Motors Co | 6.125 | 10/01/25 | 11,371 | ||||||||||||||
| 5,600,000 | General Motors Co | 5.000 | 10/01/28 | 5,426 | ||||||||||||||
| 6,950,000 | General Motors Co | 6.600 | 04/01/36 | 7,038 | ||||||||||||||
| 6,500,000 | General Motors Co | 5.200 | 04/01/45 | 5,460 | ||||||||||||||
| 1,925,000 | General Motors Co | 6.750 | 04/01/46 | 1,931 | ||||||||||||||
| 3,575,000 | e,g | Hyundai Capital Services, Inc | 2.125 | 04/24/25 | 3,377 | |||||||||||||
| EUR | 400,000 | g,o | IHO Verwaltungs GmbH | 3.750 | 09/15/26 | 347 | ||||||||||||
| $ | 8,675,000 | Magna International, Inc | 3.625 | 06/15/24 | 8,672 | |||||||||||||
| EUR | 300,000 | Volkswagen Bank GmbH | 2.500 | 07/31/26 | 305 | |||||||||||||
| TOTAL AUTOMOBILES & COMPONENTS | 46,197 | |||||||||||||||||
| BANKS - 7.8% | ||||||||||||||||||
| $ | 2,000,000 | g | Akbank TAS | 6.800 | 06/22/31 | 1,694 | ||||||||||||
| 1,775,000 | g | Banco de Credito del Peru | 3.125 | 07/01/30 | 1,622 | |||||||||||||
| 5,929,000 | g | Banco de Credito e Inversiones S.A. | 2.875 | 10/14/31 | 4,891 | |||||||||||||
| 3,000,000 | g | Banco del Estado de Chile | 2.704 | 01/09/25 | 2,837 | |||||||||||||
| 300,000 | g | Banco General S.A. | 4.125 | 08/07/27 | 284 | |||||||||||||
| 3,800,000 | g | Banco Internacional del Peru SAA Interbank | 3.375 | 01/18/23 | 3,785 | |||||||||||||
| 3,225,000 | g | Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand | 5.375 | 04/17/25 | 3,236 | |||||||||||||
| 6,600,000 | Banco Santander S.A. | 1.722 | 09/14/27 | 5,729 | ||||||||||||||
| 3,800,000 | Banco Santander S.A. | 3.800 | 02/23/28 | 3,555 | ||||||||||||||
| 600,000 | Banco Santander S.A. | 7.500 | N/A‡ | 587 | ||||||||||||||
| 4,350,000 | Bancolombia S.A. | 3.000 | 01/29/25 | 4,005 | ||||||||||||||
| 2,650,000 | Bancolombia S.A. | 4.625 | 12/18/29 | 2,312 | ||||||||||||||
| 3,010,000 | g | Bangkok Bank PCL | 3.466 | 09/23/36 | 2,516 | |||||||||||||
| 2,750,000 | g | Banistmo S.A. | 4.250 | 07/31/27 | 2,571 | |||||||||||||
| 8,100,000 | g | Bank Hapoalim BM | 3.255 | 01/21/32 | 6,926 | |||||||||||||
| 6,300,000 | g | Bank Leumi Le-Israel BM | 3.275 | 01/29/31 | 5,513 | |||||||||||||
| 5,700,000 | Bank of America Corp | 3.004 | 12/20/23 | 5,681 | ||||||||||||||
| EUR | 400,000 | Bank of America Corp | 1.375 | 03/26/25 | 407 | |||||||||||||
| $ | 10,000,000 | Bank of America Corp | 3.384 | 04/02/26 | 9,693 | |||||||||||||
| EUR | 300,000 | Bank of America Corp | 1.776 | 05/04/27 | 300 | |||||||||||||
| $ | 5,500,000 | Bank of America Corp | 1.734 | 07/22/27 | 4,889 | |||||||||||||
| 17,250,000 | Bank of America Corp | 3.824 | 01/20/28 | 16,541 | ||||||||||||||
| 34,450,000 | Bank of America Corp | 2.496 | 02/13/31 | 29,114 | ||||||||||||||
| 55,925,000 | Bank of America Corp | 2.592 | 04/29/31 | 47,432 | ||||||||||||||
| 39,000,000 | Bank of America Corp | 1.922 | 10/24/31 | 31,153 | ||||||||||||||
| 13,450,000 | Bank of America Corp | 2.299 | 07/21/32 | 10,869 | ||||||||||||||
| 11,600,000 | Bank of America Corp | 3.846 | 03/08/37 | 10,026 | ||||||||||||||
| 30,275,000 | Bank of America Corp | 2.676 | 06/19/41 | 21,783 | ||||||||||||||
| 3,000,000 | Bank of America Corp | 6.100 | N/A‡ | 2,954 | ||||||||||||||
| 5,000,000 | Bank of America Corp | 6.250 | N/A‡ | 4,860 | ||||||||||||||
| 2,975,000 | Bank of Montreal | 3.803 | 12/15/32 | 2,757 | ||||||||||||||
| EUR | 400,000 | Barclays plc | 0.625 | 11/14/23 | 419 | |||||||||||||
| 313 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 10,000,000 | Barclays plc | 3.932 | % | 05/07/25 | $ | 9,837 | |||||||||||
| 1,700,000 | Barclays plc | 2.279 | 11/24/27 | 1,507 | ||||||||||||||
| 6,075,000 | Barclays plc | 3.330 | 11/24/42 | 4,515 | ||||||||||||||
| 5,600,000 | g | BNP Paribas S.A. | 1.904 | 09/30/28 | 4,786 | |||||||||||||
| 5,000,000 | g | BNP Paribas S.A. | 2.159 | 09/15/29 | 4,182 | |||||||||||||
| 4,275,000 | g | BNP Paribas S.A. | 2.588 | 08/12/35 | 3,365 | |||||||||||||
| 4,200,000 | g | CIMB Bank Bhd | 2.125 | 07/20/27 | 3,810 | |||||||||||||
| 2,950,000 | Citigroup, Inc | 2.700 | 10/27/22 | 2,952 | ||||||||||||||
| 8,500,000 | Citigroup, Inc | 3.875 | 03/26/25 | 8,381 | ||||||||||||||
| 36,375,000 | Citigroup, Inc | 3.200 | 10/21/26 | 34,612 | ||||||||||||||
| 6,575,000 | Citigroup, Inc | 4.300 | 11/20/26 | 6,480 | ||||||||||||||
| 13,835,000 | Citigroup, Inc | 4.450 | 09/29/27 | 13,549 | ||||||||||||||
| 7,125,000 | Citigroup, Inc | 2.572 | 06/03/31 | 5,989 | ||||||||||||||
| 22,275,000 | Citigroup, Inc | 2.520 | 11/03/32 | 18,073 | ||||||||||||||
| 15,100,000 | Citigroup, Inc | 4.910 | 05/24/33 | 14,900 | ||||||||||||||
| 4,000,000 | Citigroup, Inc | 6.300 | N/A‡ | 3,733 | ||||||||||||||
| 5,000,000 | Citigroup, Inc | 5.000 | N/A‡ | 4,400 | ||||||||||||||
| 10,250,000 | Cooperatieve Rabobank UA | 3.750 | 07/21/26 | 9,773 | ||||||||||||||
| EUR | 200,000 | Cooperatieve Rabobank UA | 3.250 | N/A‡ | 171 | |||||||||||||
| $ | 4,125,000 | g | Credicorp Ltd | 2.750 | 06/17/25 | 3,828 | ||||||||||||
| 6,100,000 | g | Credit Agricole S.A. | 4.125 | 01/10/27 | 5,935 | |||||||||||||
| 2,450,000 | g | DBS Group Holdings Ltd | 4.520 | 12/11/28 | 2,469 | |||||||||||||
| 200,000 | g | Development Bank of Kazakhstan JSC | 5.750 | 05/12/25 | 199 | |||||||||||||
| 2,975,000 | g | Development Bank of Kazakhstan JSC | 2.950 | 05/06/31 | 2,244 | |||||||||||||
| 8,200,000 | Discover Bank | 2.450 | 09/12/24 | 7,886 | ||||||||||||||
| 8,455,000 | Discover Bank | 3.450 | 07/27/26 | 7,988 | ||||||||||||||
| 4,575,000 | Discover Bank | 2.700 | 02/06/30 | 3,821 | ||||||||||||||
| 3,325,000 | g | Grupo Aval Ltd | 4.375 | 02/04/30 | 2,477 | |||||||||||||
| 2,880,000 | g | Hana Bank | 3.500 | N/A‡ | 2,631 | |||||||||||||
| 9,925,000 | HSBC Holdings plc | 4.292 | 09/12/26 | 9,697 | ||||||||||||||
| 1,250,000 | HSBC Holdings plc | 4.375 | 11/23/26 | 1,222 | ||||||||||||||
| 23,250,000 | HSBC Holdings plc | 2.251 | 11/22/27 | 20,715 | ||||||||||||||
| 6,200,000 | HSBC Holdings plc | 2.013 | 09/22/28 | 5,303 | ||||||||||||||
| 20,675,000 | HSBC Holdings plc | 2.206 | 08/17/29 | 17,365 | ||||||||||||||
| 3,750,000 | HSBC Holdings plc | 3.973 | 05/22/30 | 3,445 | ||||||||||||||
| 7,000,000 | Huntington Bancshares, Inc | 5.625 | N/A‡ | 6,544 | ||||||||||||||
| 2,125,000 | g | Intercorp Financial Services, Inc | 4.125 | 10/19/27 | 1,918 | |||||||||||||
| 200,000 | g | Intesa Sanpaolo S.p.A | 4.198 | 06/01/32 | 146 | |||||||||||||
| 4,850,000 | JPMorgan Chase & Co | 2.700 | 05/18/23 | 4,827 | ||||||||||||||
| 31,125,000 | JPMorgan Chase & Co | 2.301 | 10/15/25 | 29,637 | ||||||||||||||
| 4,100,000 | JPMorgan Chase & Co | 2.005 | 03/13/26 | 3,839 | ||||||||||||||
| 14,900,000 | JPMorgan Chase & Co | 3.200 | 06/15/26 | 14,376 | ||||||||||||||
| 8,325,000 | JPMorgan Chase & Co | 4.323 | 04/26/28 | 8,188 | ||||||||||||||
| EUR | 600,000 | JPMorgan Chase & Co | 1.638 | 05/18/28 | 586 | |||||||||||||
| $ | 12,000,000 | JPMorgan Chase & Co | 4.203 | 07/23/29 | 11,574 | |||||||||||||
| 23,700,000 | JPMorgan Chase & Co | 3.702 | 05/06/30 | 22,046 | ||||||||||||||
| 20,800,000 | JPMorgan Chase & Co | 2.522 | 04/22/31 | 17,716 | ||||||||||||||
| 1,625,000 | JPMorgan Chase & Co | 2.956 | 05/13/31 | 1,403 | ||||||||||||||
| 27,900,000 | JPMorgan Chase & Co | 1.953 | 02/04/32 | 22,300 | ||||||||||||||
| 29,200,000 | JPMorgan Chase & Co | 2.963 | 01/25/33 | 25,064 | ||||||||||||||
| 27,075,000 | JPMorgan Chase & Co | 3.157 | 04/22/42 | 21,035 | ||||||||||||||
| 6,250,000 | JPMorgan Chase & Co | 3.650 | N/A‡ | 5,119 | ||||||||||||||
| 5,500,000 | JPMorgan Chase & Co | 5.000 | N/A‡ | 4,854 | ||||||||||||||
| 11,100,000 | JPMorgan Chase & Co | 6.100 | N/A‡ | 10,365 | ||||||||||||||
| 314 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| GBP | 500,000 | Lloyds Banking Group plc | 1.985 | % | 12/15/31 | $ | 522 | |||||||||||
| $ | 5,950,000 | M&T Bank Corp | 3.500 | N/A‡ | 4,537 | |||||||||||||
| 3,675,000 | g | Mizrahi Tefahot Bank Ltd | 3.077 | 04/07/31 | 3,161 | |||||||||||||
| 7,950,000 | Natwest Group plc | 3.032 | 11/28/35 | 6,346 | ||||||||||||||
| 5,700,000 | NatWest Group plc | 5.516 | 09/30/28 | 5,741 | ||||||||||||||
| 9,225,000 | g | NBK SPC Ltd | 1.625 | 09/15/27 | 8,228 | |||||||||||||
| 3,100,000 | g | Oversea-Chinese Banking Corp Ltd | 1.832 | 09/10/30 | 2,856 | |||||||||||||
| 6,000,000 | PNC Financial Services Group, Inc | 3.900 | 04/29/24 | 6,015 | ||||||||||||||
| 7,465,000 | PNC Financial Services Group, Inc | 3.400 | N/A‡ | 5,668 | ||||||||||||||
| CNY | 8,000,000 | QNB Finance Ltd | 3.150 | 02/04/26 | 1,147 | |||||||||||||
| $ | 11,800,000 | Royal Bank of Canada | 2.550 | 07/16/24 | 11,522 | |||||||||||||
| 8,625,000 | Santander Holdings USA, Inc | 3.400 | 01/18/23 | 8,612 | ||||||||||||||
| 3,675,000 | Sumitomo Mitsui Financial Group, Inc | 2.778 | 10/18/22 | 3,677 | ||||||||||||||
| 7,800,000 | Sumitomo Mitsui Financial Group, Inc | 1.474 | 07/08/25 | 7,163 | ||||||||||||||
| 5,385,000 | SVB Financial Group | 4.100 | N/A‡ | 3,703 | ||||||||||||||
| 2,350,000 | Toronto-Dominion Bank | 3.625 | 09/15/31 | 2,265 | ||||||||||||||
| 5,000,000 | Truist Financial Corp | 4.000 | 05/01/25 | 5,009 | ||||||||||||||
| 5,000,000 | Truist Financial Corp | 4.950 | N/A‡ | 4,867 | ||||||||||||||
| 9,000,000 | Truist Financial Corp | 4.800 | N/A‡ | 8,054 | ||||||||||||||
| 3,050,000 | g | Turkiye Vakiflar Bankasi TAO | 5.500 | 10/01/26 | 2,497 | |||||||||||||
| 3,065,000 | g | UBS Group AG. | 3.179 | 02/11/43 | 2,310 | |||||||||||||
| 450,000 | g | UniCredit S.p.A | 2.569 | 09/22/26 | 403 | |||||||||||||
| 3,000,000 | g | United Overseas Bank Ltd | 1.250 | 04/14/26 | 2,753 | |||||||||||||
| 2,350,000 | g | United Overseas Bank Ltd | 3.750 | 04/15/29 | 2,331 | |||||||||||||
| 3,500,000 | g | United Overseas Bank Ltd | 2.000 | 10/14/31 | 3,154 | |||||||||||||
| GBP | 500,000 | Virgin Money UK plc | 3.375 | 04/24/26 | 578 | |||||||||||||
| $ | 3,700,000 | Wells Fargo & Co | 3.750 | 01/24/24 | 3,709 | |||||||||||||
| 5,300,000 | Wells Fargo & Co | 3.550 | 09/29/25 | 5,205 | ||||||||||||||
| 14,075,000 | Wells Fargo & Co | 3.526 | 03/24/28 | 13,331 | ||||||||||||||
| 19,000,000 | Wells Fargo & Co | 2.393 | 06/02/28 | 17,015 | ||||||||||||||
| 6,000,000 | Wells Fargo & Co | 5.900 | N/A‡ | 5,425 | ||||||||||||||
| 10,000,000 | Wells Fargo & Co | 3.900 | N/A‡ | 8,613 | ||||||||||||||
| 8,500,000 | Wells Fargo & Co | 5.875 | N/A‡ | 8,287 | ||||||||||||||
| 4,521,000 | Westpac Banking Corp | 2.668 | 11/15/35 | 3,598 | ||||||||||||||
| TOTAL BANKS | 893,020 | |||||||||||||||||
| CAPITAL GOODS - 1.2% | ||||||||||||||||||
| 3,250,000 | Air Lease Corp | 3.125 | 12/01/30 | 2,656 | ||||||||||||||
| 25,400,000 | Boeing Co | 2.196 | 02/04/26 | 22,895 | ||||||||||||||
| 5,350,000 | Boeing Co | 3.250 | 02/01/28 | 4,781 | ||||||||||||||
| 7,600,000 | Boeing Co | 2.950 | 02/01/30 | 6,324 | ||||||||||||||
| 3,352,000 | Boeing Co | 3.250 | 02/01/35 | 2,536 | ||||||||||||||
| 4,850,000 | Boeing Co | 5.705 | 05/01/40 | 4,524 | ||||||||||||||
| 14,275,000 | Boeing Co | 5.805 | 05/01/50 | 13,111 | ||||||||||||||
| 200,000 | g | DAE Funding LLC | 3.375 | 03/20/28 | 175 | |||||||||||||
| 3,000,000 | g | Embraer Netherlands Finance BV | 6.950 | 01/17/28 | 2,904 | |||||||||||||
| 3,075,000 | g | H&E Equipment Services, Inc | 3.875 | 12/15/28 | 2,487 | |||||||||||||
| EUR | 500,000 | Honeywell International, Inc | 0.000 | 03/10/24 | 509 | |||||||||||||
| $ | 6,200,000 | Ingersoll-Rand Luxembourg Finance S.A. | 3.800 | 03/21/29 | 5,806 | |||||||||||||
| 3,000,000 | g | Korea East-West Power Co Ltd | 1.750 | 05/06/25 | 2,831 | |||||||||||||
| 2,075,000 | g | Korea East-West Power Co Ltd | 3.600 | 05/06/25 | 2,053 | |||||||||||||
| 2,900,000 | L3Harris Technologies, Inc | 3.850 | 06/15/23 | 2,900 | ||||||||||||||
| 8,925,000 | Northrop Grumman Corp | 3.250 | 01/15/28 | 8,483 | ||||||||||||||
| 315 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 11,425,000 | Parker-Hannifin Corp | 3.250 | % | 06/14/29 | $ | 10,456 | |||||||||||
| 16,850,000 | Raytheon Technologies Corp | 4.125 | 11/16/28 | 16,629 | ||||||||||||||
| EUR | 500,000 | Raytheon Technologies Corp | 2.150 | 05/18/30 | 466 | |||||||||||||
| $ | 6,600,000 | Raytheon Technologies Corp | 2.250 | 07/01/30 | 5,690 | |||||||||||||
| 5,390,000 | Raytheon Technologies Corp | 4.500 | 06/01/42 | 5,140 | ||||||||||||||
| 325,000 | g | Rolls-Royce plc | 5.750 | 10/15/27 | 293 | |||||||||||||
| 10,050,000 | Roper Technologies, Inc | 2.000 | 06/30/30 | 8,093 | ||||||||||||||
| EUR | 800,000 | Thermo Fisher Scientific Finance I BV | 0.800 | 10/18/30 | 709 | |||||||||||||
| $ | 4,000,000 | g | TSMC Global Ltd | 1.000 | 09/28/27 | 3,453 | ||||||||||||
| 300,000 | g | WESCO Distribution, Inc | 7.250 | 06/15/28 | 297 | |||||||||||||
| TOTAL CAPITAL GOODS | 136,201 | |||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.2% | ||||||||||||||||||
| EUR | 250,000 | g | Allied Universal Holdco LLC | 3.625 | 06/01/28 | 197 | ||||||||||||
| $ | 325,000 | g | ASGN, Inc | 4.625 | 05/15/28 | 282 | ||||||||||||
| 925,000 | g | Booz Allen Hamilton, Inc | 3.875 | 09/01/28 | 819 | |||||||||||||
| 750,000 | g | GFL Environmental, Inc | 4.250 | 06/01/25 | 708 | |||||||||||||
| 1,000,000 | g | GFL Environmental, Inc | 3.750 | 08/01/25 | 927 | |||||||||||||
| 2,350,000 | g | Prime Security Services Borrower LLC | 5.250 | 04/15/24 | 2,297 | |||||||||||||
| 2,000,000 | g | Prime Security Services Borrower LLC | 5.750 | 04/15/26 | 1,865 | |||||||||||||
| 1,325,000 | g | Prime Security Services Borrower LLC | 3.375 | 08/31/27 | 1,091 | |||||||||||||
| 725,000 | g | Prime Security Services Borrower LLC | 6.250 | 01/15/28 | 607 | |||||||||||||
| 7,971,000 | Republic Services, Inc | 2.900 | 07/01/26 | 7,613 | ||||||||||||||
| 1,250,000 | Verisk Analytics, Inc | 4.125 | 03/15/29 | 1,204 | ||||||||||||||
| 3,550,000 | Waste Management, Inc | 2.500 | 11/15/50 | 2,388 | ||||||||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 19,998 | |||||||||||||||||
| CONSUMER DURABLES & APPAREL - 0.0% | ||||||||||||||||||
| 149,000 | Newell Brands, Inc | 4.875 | 06/01/25 | 147 | ||||||||||||||
| TOTAL CONSUMER DURABLES & APPAREL | 147 | |||||||||||||||||
| CONSUMER SERVICES - 0.8% | ||||||||||||||||||
| 9,820,000 | Amherst College | 4.100 | 11/01/45 | 8,959 | ||||||||||||||
| 29,085,000 | Anheuser-Busch Cos LLC | 3.650 | 02/01/26 | 28,612 | ||||||||||||||
| 13,600,000 | Anheuser-Busch Cos LLC | 4.900 | 02/01/46 | 12,782 | ||||||||||||||
| 1,825,000 | g | Cedar Fair LP | 5.500 | 05/01/25 | 1,770 | |||||||||||||
| 3,800,000 | g | ENA Master Trust | 4.000 | 05/19/48 | 2,950 | |||||||||||||
| 125,000 | g | Hilton Domestic Operating Co, Inc | 5.750 | 05/01/28 | 119 | |||||||||||||
| 1,610,000 | g | International Game Technology plc | 6.500 | 02/15/25 | 1,602 | |||||||||||||
| EUR | 500,000 | g | International Game Technology plc | 3.500 | 06/15/26 | 476 | ||||||||||||
| $ | 8,000,000 | President and Fellows of Harvard College | 3.529 | 10/01/31 | 7,641 | |||||||||||||
| 14,250,000 | President and Fellows of Harvard College | 3.619 | 10/01/37 | 13,560 | ||||||||||||||
| 1,000,000 | g | Sands China Ltd | 2.550 | 03/08/27 | 728 | |||||||||||||
| 2,100,000 | Sands China Ltd | 5.400 | 08/08/28 | 1,617 | ||||||||||||||
| 15,000,000 | Smith College | 4.620 | 07/01/45 | 15,192 | ||||||||||||||
| 1,125,000 | g | Wynn Macau Ltd | 5.500 | 01/15/26 | 778 | |||||||||||||
| TOTAL CONSUMER SERVICES | 96,786 | |||||||||||||||||
| DIVERSIFIED FINANCIALS - 3.6% | ||||||||||||||||||
| 8,975,000 | AerCap Ireland Capital DAC | 1.750 | 01/30/26 | 7,844 | ||||||||||||||
| 21,000,000 | AerCap Ireland Capital DAC | 2.450 | 10/29/26 | 18,286 | ||||||||||||||
| 3,144,000 | AerCap Ireland Capital DAC | 3.000 | 10/29/28 | 2,648 | ||||||||||||||
| 2,650,000 | AerCap Ireland Capital DAC | 3.300 | 01/30/32 | 2,121 | ||||||||||||||
| 316 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 2,250,000 | AerCap Ireland Capital DAC | 3.850 | % | 10/29/41 | $ | 1,621 | |||||||||||
| 4,000,000 | American Express Co | 3.700 | 08/03/23 | 4,014 | ||||||||||||||
| 2,775,000 | American Express Co | 2.550 | 03/04/27 | 2,586 | ||||||||||||||
| 7,500,000 | American Express Co | 3.550 | N/A‡ | 6,102 | ||||||||||||||
| EUR | 425,000 | American Honda Finance Corp | 1.950 | 10/18/24 | 445 | |||||||||||||
| $ | 2,900,000 | g | B3 S.A.-Brasil Bolsa Balcao | 4.125 | 09/20/31 | 2,387 | ||||||||||||
| 5,000,000 | g | Banco BTG Pactual S.A. | 2.750 | 01/11/26 | 4,442 | |||||||||||||
| 3,125,000 | g | Banco de Chile | 2.990 | 12/09/31 | 2,609 | |||||||||||||
| 3,000,000 | g | Bangkok Bank PCL | 4.300 | 06/15/27 | 3,000 | |||||||||||||
| 10,000,000 | Bank of New York Mellon Corp | 4.700 | N/A‡ | 9,770 | ||||||||||||||
| 300,000 | g | BBVA Bancomer S.A. | 5.350 | 11/12/29 | 278 | |||||||||||||
| 1,500,000 | g | BBVA Bancomer S.A. | 5.125 | 01/18/33 | 1,268 | |||||||||||||
| 2,099,000 | g | BPCE S.A. | 4.625 | 07/11/24 | 2,087 | |||||||||||||
| EUR | 300,000 | BPCE S.A. | 0.500 | 09/15/27 | 279 | |||||||||||||
| $ | 20,775,000 | Capital One Bank USA NA | 3.375 | 02/15/23 | 20,758 | |||||||||||||
| EUR | 500,000 | Capital One Financial Corp | 0.800 | 06/12/24 | 504 | |||||||||||||
| $ | 6,635,000 | e | Capital One Financial Corp | 3.950 | N/A‡ | 5,325 | ||||||||||||
| EUR | 100,000 | Celanese US Holdings LLC | 0.625 | 09/10/28 | 81 | |||||||||||||
| $ | 7,000,000 | Charles Schwab Corp | 5.375 | N/A‡ | 6,912 | |||||||||||||
| 6,250,000 | Community Preservation Corp | 2.867 | 02/01/30 | 5,565 | ||||||||||||||
| 2,950,000 | g | Credit Suisse Group AG. | 2.193 | 06/05/26 | 2,674 | |||||||||||||
| 10,275,000 | g | Credit Suisse Group AG. | 1.305 | 02/02/27 | 8,839 | |||||||||||||
| GBP | 300,000 | Credit Suisse Group AG. | 2.250 | 06/09/28 | 319 | |||||||||||||
| $ | 7,700,000 | Credit Suisse Group Funding Guernsey Ltd | 3.800 | 06/09/23 | 7,627 | |||||||||||||
| 10,250,000 | Credit Suisse Group Funding Guernsey Ltd | 3.750 | 03/26/25 | 9,929 | ||||||||||||||
| GBP | 300,000 | Danske Bank A.S. | 2.250 | 01/14/28 | 330 | |||||||||||||
| $ | 6,850,000 | Deutsche Bank AG. | 2.311 | 11/16/27 | 5,911 | |||||||||||||
| 4,900,000 | Deutsche Bank AG. | 3.035 | 05/28/32 | 3,877 | ||||||||||||||
| 600,000 | Deutsche Bank AG. | 3.742 | 01/07/33 | 437 | ||||||||||||||
| 3,543,000 | Equitable Holdings, Inc | 4.950 | N/A‡ | 3,329 | ||||||||||||||
| IDR | 10,300,000,000 | European Bank for Reconstruction & Development | 5.200 | 05/28/24 | 686 | |||||||||||||
| $ | 16,531,000 | GE Capital International Funding Co | 4.418 | 11/15/35 | 15,440 | |||||||||||||
| 20,000,000 | General Motors Financial Co, Inc | 2.750 | 06/20/25 | 18,765 | ||||||||||||||
| 19,850,000 | General Motors Financial Co, Inc | 5.000 | 04/09/27 | 19,472 | ||||||||||||||
| EUR | 500,000 | General Motors Financial Co, Inc | 0.600 | 05/20/27 | 439 | |||||||||||||
| $ | 5,475,000 | General Motors Financial Co, Inc | 5.650 | 01/17/29 | 5,462 | |||||||||||||
| 32,625,000 | General Motors Financial Co, Inc | 2.700 | 06/10/31 | 25,706 | ||||||||||||||
| 5,450,000 | e | General Motors Financial Co, Inc | 5.700 | N/A‡ | 4,741 | |||||||||||||
| 12,825,000 | Goldman Sachs Group, Inc | 3.500 | 04/01/25 | 12,572 | ||||||||||||||
| EUR | 825,000 | Goldman Sachs Group, Inc | 1.625 | 07/27/26 | 813 | |||||||||||||
| $ | 32,200,000 | Goldman Sachs Group, Inc | 2.640 | 02/24/28 | 29,224 | |||||||||||||
| 6,000,000 | Goldman Sachs Group, Inc | 1.992 | 01/27/32 | 4,740 | ||||||||||||||
| 12,080,000 | Goldman Sachs Group, Inc | 2.615 | 04/22/32 | 10,029 | ||||||||||||||
| 4,050,000 | Goldman Sachs Group, Inc | 4.017 | 10/31/38 | 3,537 | ||||||||||||||
| 7,725,000 | Goldman Sachs Group, Inc | 3.436 | 02/24/43 | 6,057 | ||||||||||||||
| 3,000,000 | Goldman Sachs Group, Inc | 3.800 | N/A‡ | 2,340 | ||||||||||||||
| 200,000 | g | Indian Railway Finance Corp Ltd | 3.249 | 02/13/30 | 173 | |||||||||||||
| 3,600,000 | g | Indian Railway Finance Corp Ltd | 2.800 | 02/10/31 | 2,926 | |||||||||||||
| EUR | 500,000 | ING Groep NV | 1.250 | 02/16/27 | 487 | |||||||||||||
| MXN | 7,800,000 | Kreditanstalt fuer Wiederaufbau | 4.400 | 07/25/25 | 332 | |||||||||||||
| $ | 1,305,000 | Legg Mason, Inc | 3.950 | 07/15/24 | 1,312 | |||||||||||||
| EUR | 200,000 | London Stock Exchange Group plc | 1.750 | 12/06/27 | 199 | |||||||||||||
| $ | 3,000,000 | g | Minejesa Capital BV | 4.625 | 08/10/30 | 2,688 | ||||||||||||
| 317 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 10,000,000 | Morgan Stanley | 2.188 | % | 04/28/26 | $ | 9,362 | |||||||||||
| 31,425,000 | Morgan Stanley | 3.125 | 07/27/26 | 29,978 | ||||||||||||||
| EUR | 700,000 | Morgan Stanley | 1.342 | 10/23/26 | 696 | |||||||||||||
| $ | 6,200,000 | Morgan Stanley | 1.512 | 07/20/27 | 5,438 | |||||||||||||
| 9,300,000 | Morgan Stanley | 2.699 | 01/22/31 | 8,055 | ||||||||||||||
| 4,900,000 | Morgan Stanley | 1.794 | 02/13/32 | 3,854 | ||||||||||||||
| 500,000 | Morgan Stanley | 1.928 | 04/28/32 | 396 | ||||||||||||||
| EUR | 500,000 | Morgan Stanley | 2.950 | 05/07/32 | 495 | |||||||||||||
| $ | 4,175,000 | Morgan Stanley | 2.239 | 07/21/32 | 3,382 | |||||||||||||
| 4,440,000 | Northern Trust Corp | 4.600 | N/A‡ | 3,926 | ||||||||||||||
| 3,350,000 | e,g | Power Finance Corp Ltd | 3.950 | 04/23/30 | 2,971 | |||||||||||||
| 1,200,000 | g | Societe Generale S.A. | 2.889 | 06/09/32 | 958 | |||||||||||||
| 4,125,000 | g | Societe Generale S.A. | 4.027 | 01/21/43 | 2,917 | |||||||||||||
| 550,000 | Springleaf Finance Corp | 5.375 | 11/15/29 | 446 | ||||||||||||||
| 5,600,000 | g | Swiss Re Finance Luxembourg SA | 5.000 | 04/02/49 | 5,295 | |||||||||||||
| 5,519,000 | Synchrony Financial | 4.250 | 08/15/24 | 5,485 | ||||||||||||||
| 3,800,000 | Synchrony Financial | 3.950 | 12/01/27 | 3,464 | ||||||||||||||
| 8,295,000 | Voya Financial, Inc | 5.650 | 05/15/53 | 7,777 | ||||||||||||||
| TOTAL DIVERSIFIED FINANCIALS | 417,239 | |||||||||||||||||
| ENERGY - 3.2% | ||||||||||||||||||
| 1,050,000 | AmeriGas Partners LP | 5.875 | 08/20/26 | 980 | ||||||||||||||
| EUR | 500,000 | BP Capital Markets plc | 1.231 | 05/08/31 | 442 | |||||||||||||
| $ | 6,750,000 | Cenovus Energy, Inc | 4.250 | 04/15/27 | 6,616 | |||||||||||||
| 325,000 | e | Cenovus Energy, Inc | 2.650 | 01/15/32 | 269 | |||||||||||||
| 5,000,000 | Cenovus Energy, Inc | 5.400 | 06/15/47 | 4,803 | ||||||||||||||
| 5,700,000 | Diamondback Energy, Inc | 3.125 | 03/24/31 | 4,964 | ||||||||||||||
| 4,625,000 | Diamondback Energy, Inc | 4.250 | 03/15/52 | 3,836 | ||||||||||||||
| 5,250,000 | Ecopetrol S.A. | 5.375 | 06/26/26 | 4,861 | ||||||||||||||
| 2,000,000 | Ecopetrol S.A. | 6.875 | 04/29/30 | 1,768 | ||||||||||||||
| 2,125,000 | Ecopetrol S.A. | 4.625 | 11/02/31 | 1,610 | ||||||||||||||
| 3,000,000 | g | Empresa Nacional del Petroleo | 5.250 | 11/06/29 | 2,839 | |||||||||||||
| 2,975,000 | g | Empresa Nacional del Petroleo | 3.450 | 09/16/31 | 2,402 | |||||||||||||
| 15,418,000 | e | Enbridge, Inc | 3.125 | 11/15/29 | 13,937 | |||||||||||||
| 3,250,000 | Enbridge, Inc | 3.400 | 08/01/51 | 2,443 | ||||||||||||||
| 2,624,000 | g | Energean Israel Finance Ltd | 4.500 | 03/30/24 | 2,465 | |||||||||||||
| 6,421,000 | Energy Transfer Operating LP | 3.600 | 02/01/23 | 6,403 | ||||||||||||||
| 2,500,000 | Energy Transfer Operating LP | 4.200 | 09/15/23 | 2,504 | ||||||||||||||
| 4,575,000 | Energy Transfer Operating LP | 2.900 | 05/15/25 | 4,348 | ||||||||||||||
| 4,725,000 | Energy Transfer Operating LP | 4.750 | 01/15/26 | 4,707 | ||||||||||||||
| 2,950,000 | Energy Transfer Operating LP | 5.500 | 06/01/27 | 2,994 | ||||||||||||||
| 7,850,000 | Energy Transfer Operating LP | 4.950 | 06/15/28 | 7,735 | ||||||||||||||
| 4,225,000 | Energy Transfer Operating LP | 5.250 | 04/15/29 | 4,185 | ||||||||||||||
| 8,700,000 | Energy Transfer Operating LP | 6.250 | 04/15/49 | 8,433 | ||||||||||||||
| 9,125,000 | Energy Transfer Operating LP | 5.000 | 05/15/50 | 7,765 | ||||||||||||||
| 5,125,000 | Enterprise Products Operating LLC | 3.700 | 02/15/26 | 5,037 | ||||||||||||||
| 6,275,000 | Enterprise Products Operating LLC | 3.125 | 07/31/29 | 5,647 | ||||||||||||||
| 700,000 | Enterprise Products Operating LLC | 2.800 | 01/31/30 | 613 | ||||||||||||||
| 4,025,000 | Enterprise Products Operating LLC | 4.250 | 02/15/48 | 3,386 | ||||||||||||||
| 6,200,000 | Enterprise Products Operating LLC | 4.200 | 01/31/50 | 5,170 | ||||||||||||||
| 10,600,000 | Enterprise Products Operating LLC | 3.700 | 01/31/51 | 8,283 | ||||||||||||||
| 11,000,000 | Enterprise Products Operating LLC | 3.300 | 02/15/53 | 8,001 | ||||||||||||||
| 450,000 | g | EQM Midstream Partners LP | 6.000 | 07/01/25 | 431 | |||||||||||||
| 3,203,507 | g | Galaxy Pipeline Assets Bidco Ltd | 2.160 | 03/31/34 | 2,718 | |||||||||||||
| 318 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 3,300,000 | g | Galaxy Pipeline Assets Bidco Ltd | 2.625 | % | 03/31/36 | $ | 2,666 | ||||||||||
| EUR | 300,000 | †,g | Gazprom PJSC via Gaz Finance plc | 1.850 | 11/17/28 | 75 | ||||||||||||
| $ | 3,475,000 | g | KazTransGas JSC | 4.375 | 09/26/27 | 3,052 | ||||||||||||
| 3,225,000 | Kinder Morgan Energy Partners LP | 5.400 | 09/01/44 | 2,971 | ||||||||||||||
| 5,875,000 | Magellan Midstream Partners LP | 3.250 | 06/01/30 | 5,223 | ||||||||||||||
| 9,075,000 | Marathon Petroleum Corp | 3.800 | 04/01/28 | 8,593 | ||||||||||||||
| 5,635,000 | Marathon Petroleum Corp | 4.750 | 09/15/44 | 4,964 | ||||||||||||||
| 5,500,000 | Marathon Petroleum Corp | 5.000 | 09/15/54 | 4,940 | ||||||||||||||
| 725,000 | g | MEG Energy Corp | 5.875 | 02/01/29 | 662 | |||||||||||||
| 8,950,000 | MPLX LP | 1.750 | 03/01/26 | 8,058 | ||||||||||||||
| 23,275,000 | MPLX LP | 2.650 | 08/15/30 | 19,429 | ||||||||||||||
| 6,150,000 | MPLX LP | 4.700 | 04/15/48 | 5,170 | ||||||||||||||
| 275,000 | Murphy Oil Corp | 5.875 | 12/01/27 | 257 | ||||||||||||||
| 1,000,000 | NAK Naftogaz Ukraine via Kondor Finance plc | 7.375 | 07/19/22 | 755 | ||||||||||||||
| 2,200,000 | Occidental Petroleum Corp | 5.550 | 03/15/26 | 2,185 | ||||||||||||||
| 1,350,000 | g | Oleoducto Central S.A. | 4.000 | 07/14/27 | 1,126 | |||||||||||||
| 1,775,000 | ONEOK, Inc | 4.000 | 07/13/27 | 1,709 | ||||||||||||||
| 11,642,000 | ONEOK, Inc | 4.550 | 07/15/28 | 11,256 | ||||||||||||||
| 12,150,000 | ONEOK, Inc | 4.350 | 03/15/29 | 11,428 | ||||||||||||||
| 5,500,000 | ONEOK, Inc | 4.500 | 03/15/50 | 4,405 | ||||||||||||||
| 315,000 | g | Parkland Corp | 4.625 | 05/01/30 | 256 | |||||||||||||
| 500,000 | g | Parkland Fuel Corp | 5.875 | 07/15/27 | 454 | |||||||||||||
| 3,000,000 | g | Pertamina Persero PT | 4.300 | 05/20/23 | 3,003 | |||||||||||||
| 1,425,000 | g | Pertamina Persero PT | 3.650 | 07/30/29 | 1,317 | |||||||||||||
| 1,200,000 | e | Petrobras Global Finance BV | 5.999 | 01/27/28 | 1,193 | |||||||||||||
| 560,000 | Petrobras Global Finance BV | 7.250 | 03/17/44 | 535 | ||||||||||||||
| 350,000 | e | Petrobras Global Finance BV | 5.500 | 06/10/51 | 266 | |||||||||||||
| 1,000,000 | Petroleos Mexicanos | 1.950 | 12/20/22 | 996 | ||||||||||||||
| 535,000 | Petroleos Mexicanos | 2.000 | 12/20/22 | 533 | ||||||||||||||
| 1,600,000 | Petroleos Mexicanos | 6.840 | 01/23/30 | 1,259 | ||||||||||||||
| 5,300,000 | Petroleos Mexicanos | 5.950 | 01/28/31 | 3,876 | ||||||||||||||
| 5,481,000 | Petroleos Mexicanos | 6.700 | 02/16/32 | 4,179 | ||||||||||||||
| 1,100,000 | g | Petronas Capital Ltd | 3.500 | 04/21/30 | 1,038 | |||||||||||||
| 4,175,000 | g | Petronas Energy Canada Ltd | 2.112 | 03/23/28 | 3,764 | |||||||||||||
| 15,400,000 | Phillips 66 | 2.150 | 12/15/30 | 12,579 | ||||||||||||||
| 3,750,000 | Phillips 66 | 3.300 | 03/15/52 | 2,791 | ||||||||||||||
| 2,375,000 | g | Phillips 66 Co | 4.680 | 02/15/45 | 2,194 | |||||||||||||
| 475,000 | Plains All American Pipeline LP | 3.800 | 09/15/30 | 420 | ||||||||||||||
| 2,373,340 | g | Rio Oil Finance Trust | 8.200 | 04/06/28 | 2,457 | |||||||||||||
| 1,500,000 | g | S.A. Global Sukuk Ltd | 0.946 | 06/17/24 | 1,415 | |||||||||||||
| 9,875,000 | Sabine Pass Liquefaction LLC | 4.200 | 03/15/28 | 9,497 | ||||||||||||||
| 10,200,000 | Sabine Pass Liquefaction LLC | 4.500 | 05/15/30 | 9,775 | ||||||||||||||
| 1,700,000 | g | Santos Finance Ltd | 3.649 | 04/29/31 | 1,442 | |||||||||||||
| 2,000,000 | g | Saudi Arabian Oil Co | 2.250 | 11/24/30 | 1,698 | |||||||||||||
| 3,000,000 | g | Saudi Arabian Oil Co | 3.250 | 11/24/50 | 2,155 | |||||||||||||
| 5,325,000 | Shell International Finance BV | 3.125 | 11/07/49 | 4,084 | ||||||||||||||
| 6,500,000 | Sunoco Logistics Partners Operations LP | 4.000 | 10/01/27 | 6,152 | ||||||||||||||
| 1,925,000 | Sunoco Logistics Partners Operations LP | 5.400 | 10/01/47 | 1,689 | ||||||||||||||
| 3,350,000 | Targa Resources Corp | 4.200 | 02/01/33 | 3,035 | ||||||||||||||
| 4,550,000 | Targa Resources Corp | 4.950 | 04/15/52 | 3,899 | ||||||||||||||
| 425,000 | Targa Resources Partners LP | 6.500 | 07/15/27 | 435 | ||||||||||||||
| 4,300,000 | g | Thaioil Treasury Center Co Ltd | 2.500 | 06/18/30 | 3,464 | |||||||||||||
| 11,000,000 | Total Capital International S.A. | 3.127 | 05/29/50 | 8,408 | ||||||||||||||
| 319 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 13,800,000 | TransCanada PipeLines Ltd | 4.250 | % | 05/15/28 | $ | 13,427 | |||||||||||
| 4,250,000 | TransCanada PipeLines Ltd | 2.500 | 10/12/31 | 3,533 | ||||||||||||||
| 1,400,000 | Vale Overseas Ltd | 6.250 | 08/10/26 | 1,462 | ||||||||||||||
| 5,900,000 | Williams Cos, Inc | 2.600 | 03/15/31 | 4,938 | ||||||||||||||
| TOTAL ENERGY | 365,137 | |||||||||||||||||
| FOOD & STAPLES RETAILING - 0.2% | ||||||||||||||||||
| 4,000,000 | Costco Wholesale Corp | 1.600 | 04/20/30 | 3,374 | ||||||||||||||
| EUR | 1,000,000 | SYSCO Corp | 1.250 | 06/23/23 | 1,039 | |||||||||||||
| $ | 6,700,000 | SYSCO Corp | 3.150 | 12/14/51 | 4,791 | |||||||||||||
| 770,000 | Walmart, Inc | 2.375 | 09/24/29 | 699 | ||||||||||||||
| 8,500,000 | Walmart, Inc | 1.800 | 09/22/31 | 7,217 | ||||||||||||||
| 5,525,000 | Walmart, Inc | 2.500 | 09/22/41 | 4,293 | ||||||||||||||
| TOTAL FOOD & STAPLES RETAILING | 21,413 | |||||||||||||||||
| FOOD, BEVERAGE & TOBACCO - 1.0% | ||||||||||||||||||
| 4,725,000 | Altria Group, Inc | 5.950 | 02/14/49 | 4,140 | ||||||||||||||
| 2,600,000 | g | Anadolu Efes Biracilik Ve Malt Sanayii AS. | 3.375 | 06/29/28 | 1,802 | |||||||||||||
| 18,600,000 | Anheuser-Busch InBev Worldwide, Inc | 4.750 | 01/23/29 | 18,923 | ||||||||||||||
| 5,045,000 | Anheuser-Busch InBev Worldwide, Inc | 4.439 | 10/06/48 | 4,425 | ||||||||||||||
| 6,275,000 | BAT Capital Corp | 2.259 | 03/25/28 | 5,257 | ||||||||||||||
| 10,225,000 | BAT Capital Corp | 4.906 | 04/02/30 | 9,497 | ||||||||||||||
| 4,400,000 | BAT Capital Corp | 2.726 | 03/25/31 | 3,485 | ||||||||||||||
| GBP | 200,000 | BAT International Finance plc | 4.000 | 09/04/26 | 236 | |||||||||||||
| $ | 13,200,000 | BAT International Finance plc | 4.448 | 03/16/28 | 12,496 | |||||||||||||
| 1,000,000 | e,g | BRF S.A. | 5.750 | 09/21/50 | 665 | |||||||||||||
| 3,875,000 | g | Cia Cervecerias Unidas S.A. | 3.350 | 01/19/32 | 3,295 | |||||||||||||
| 4,000,000 | g | Coca-Cola Icecek AS. | 4.500 | 01/20/29 | 3,265 | |||||||||||||
| 1,700,000 | Constellation Brands, Inc | 4.400 | 11/15/25 | 1,708 | ||||||||||||||
| 2,675,000 | Constellation Brands, Inc | 3.700 | 12/06/26 | 2,604 | ||||||||||||||
| 3,225,000 | Constellation Brands, Inc | 3.150 | 08/01/29 | 2,903 | ||||||||||||||
| 6,900,000 | Constellation Brands, Inc | 2.875 | 05/01/30 | 6,002 | ||||||||||||||
| 20,175,000 | Constellation Brands, Inc | 2.250 | 08/01/31 | 16,362 | ||||||||||||||
| 1,500,000 | g | Corp Lindley S.A. | 4.625 | 04/12/23 | 1,493 | |||||||||||||
| 4,500,000 | Diageo Capital plc | 1.375 | 09/29/25 | 4,199 | ||||||||||||||
| 8,050,000 | Diageo Capital plc | 2.375 | 10/24/29 | 7,147 | ||||||||||||||
| 2,850,000 | Diageo Capital plc | 2.000 | 04/29/30 | 2,431 | ||||||||||||||
| 2,500,000 | g | Grupo Bimbo SAB de C.V. | 4.700 | 11/10/47 | 2,293 | |||||||||||||
| 2,400,000 | g | Grupo Bimbo SAB de C.V. | 5.950 | N/A‡ | 2,360 | |||||||||||||
| 3,500,000 | g | Sigma Alimentos S.A. de C.V. | 4.125 | 05/02/26 | 3,298 | |||||||||||||
| GBP | 300,000 | Tesco Corporate Treasury Services plc | 2.750 | 04/27/30 | 318 | |||||||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO | 120,604 | |||||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 1.5% | ||||||||||||||||||
| $ | 1,500,000 | Abbott Laboratories | 5.300 | 05/27/40 | 1,631 | |||||||||||||
| 12,350,000 | Anthem, Inc | 2.250 | 05/15/30 | 10,553 | ||||||||||||||
| EUR | 430,000 | Becton Dickinson & Co | 1.401 | 05/24/23 | 450 | |||||||||||||
| $ | 2,650,000 | Boston Scientific Corp | 2.650 | 06/01/30 | 2,312 | |||||||||||||
| 3,285,000 | Centene Corp | 2.450 | 07/15/28 | 2,740 | ||||||||||||||
| 2,910,000 | Centene Corp | 3.000 | 10/15/30 | 2,412 | ||||||||||||||
| 19,230,000 | Children’s Hospital Medic | 4.268 | 05/15/44 | 18,122 | ||||||||||||||
| 24,975,000 | CVS Health Corp | 3.750 | 04/01/30 | 23,361 | ||||||||||||||
| 30,950,000 | CVS Health Corp | 1.750 | 08/21/30 | 24,789 | ||||||||||||||
| 320 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 10,300,000 | CVS Health Corp | 4.780 | % | 03/25/38 | $ | 9,749 | |||||||||||
| 4,675,000 | CVS Health Corp | 2.700 | 08/21/40 | 3,375 | ||||||||||||||
| 8,350,000 | CVS Health Corp | 5.050 | 03/25/48 | 7,993 | ||||||||||||||
| 3,250,000 | CVS Health Corp | 4.250 | 04/01/50 | 2,798 | ||||||||||||||
| 4,105,000 | Dartmouth-Hitchcock Health | 4.178 | 08/01/48 | 3,713 | ||||||||||||||
| 4,225,000 | HCA, Inc | 5.625 | 09/01/28 | 4,156 | ||||||||||||||
| 5,000,000 | HCA, Inc | 5.500 | 06/15/47 | 4,460 | ||||||||||||||
| 3,500,000 | g | Hologic, Inc | 3.250 | 02/15/29 | 2,991 | |||||||||||||
| 6,250,000 | Humana, Inc | 3.950 | 03/15/27 | 6,130 | ||||||||||||||
| 7,350,000 | e | Humana, Inc | 2.150 | 02/03/32 | 5,952 | |||||||||||||
| GBP | 500,000 | McKesson Corp | 3.125 | 02/17/29 | 576 | |||||||||||||
| $ | 12,500,000 | Mercy Health | 3.382 | 11/01/25 | 12,238 | |||||||||||||
| 5,000,000 | New York and Presbyterian Hospital | 3.563 | 08/01/36 | 4,569 | ||||||||||||||
| EUR | 450,000 | Stryker Corp | 2.625 | 11/30/30 | 444 | |||||||||||||
| $ | 375,000 | g | Tenet Healthcare Corp | 4.625 | 06/15/28 | 327 | ||||||||||||
| 5,775,000 | UnitedHealth Group, Inc | 2.950 | 10/15/27 | 5,546 | ||||||||||||||
| 12,150,000 | UnitedHealth Group, Inc | 2.300 | 05/15/31 | 10,523 | ||||||||||||||
| 3,250,000 | UnitedHealth Group, Inc | 3.750 | 10/15/47 | 2,808 | ||||||||||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 174,718 | |||||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 0.0% | ||||||||||||||||||
| 2,600,000 | Church & Dwight Co, Inc | 2.300 | 12/15/31 | 2,187 | ||||||||||||||
| EUR | 750,000 | g | Coty, Inc | 3.875 | 04/15/26 | 692 | ||||||||||||
| $ | 2,525,000 | g | Natura Cosmeticos S.A. | 4.125 | 05/03/28 | 2,079 | ||||||||||||
| EUR | 600,000 | The Procter & Gamble Company | 0.625 | 10/30/24 | 615 | |||||||||||||
| 400,000 | The Procter & Gamble Company | 1.875 | 10/30/38 | 350 | ||||||||||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS | 5,923 | |||||||||||||||||
| INSURANCE - 1.4% | ||||||||||||||||||
| $ | 825,000 | g | Alliant Holdings Intermediate LLC | 4.250 | 10/15/27 | 714 | ||||||||||||
| 6,350,000 | Aon Corp | 2.800 | 05/15/30 | 5,551 | ||||||||||||||
| 9,631,000 | Aon plc | 3.500 | 06/14/24 | 9,572 | ||||||||||||||
| 5,250,000 | AXIS Specialty Finance LLC | 4.900 | 01/15/40 | 4,410 | ||||||||||||||
| 2,400,000 | Berkshire Hathaway Finance Corp | 4.250 | 01/15/49 | 2,211 | ||||||||||||||
| 16,000,000 | Berkshire Hathaway Finance Corp | 2.850 | 10/15/50 | 11,518 | ||||||||||||||
| EUR | 500,000 | Chubb INA Holdings, Inc | 1.550 | 03/15/28 | 484 | |||||||||||||
| 450,000 | Chubb INA Holdings, Inc | 1.400 | 06/15/31 | 401 | ||||||||||||||
| $ | 3,525,000 | CNA Financial Corp | 3.950 | 05/15/24 | 3,526 | |||||||||||||
| 1,825,000 | g | Equitable Financial Life Global Funding | 1.400 | 07/07/25 | 1,677 | |||||||||||||
| EUR | 250,000 | g | Fairfax Financial Holdings Ltd | 2.750 | 03/29/28 | 242 | ||||||||||||
| $ | 5,575,000 | g | Five Corners Funding Trust | 4.419 | 11/15/23 | 5,606 | ||||||||||||
| 7,325,000 | g | Five Corners Funding Trust II | 2.850 | 05/15/30 | 6,372 | |||||||||||||
| 3,000,000 | g | Hanwha Life Insurance Co Ltd | 3.379 | 02/04/32 | 2,736 | |||||||||||||
| 26,158,000 | Hartford Financial Services Group, Inc | 2.800 | 08/19/29 | 23,324 | ||||||||||||||
| 1,350,000 | Hartford Financial Services Group, Inc | 4.300 | 04/15/43 | 1,195 | ||||||||||||||
| 2,500,000 | Hartford Financial Services Group, Inc | 2.900 | 09/15/51 | 1,735 | ||||||||||||||
| 6,200,000 | g | HCA, Inc | 3.625 | 03/15/32 | 5,230 | |||||||||||||
| 5,950,000 | g | HCA, Inc | 4.625 | 03/15/52 | 4,760 | |||||||||||||
| EUR | 750,000 | Liberty Mutual Group, Inc | 2.750 | 05/04/26 | 783 | |||||||||||||
| $ | 4,100,000 | g | Liberty Mutual Group, Inc | 3.951 | 10/15/50 | 3,114 | ||||||||||||
| 5,250,000 | g | Liberty Mutual Group, Inc | 5.500 | 06/15/52 | 4,973 | |||||||||||||
| 1,365,000 | Marsh & McLennan Cos, Inc | 3.500 | 03/10/25 | 1,347 | ||||||||||||||
| 4,325,000 | MetLife, Inc | 3.600 | 11/13/25 | 4,297 | ||||||||||||||
| 321 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 11,820,000 | e | MetLife, Inc | 3.850 | % | N/A‡ | $ | 10,525 | ||||||||||
| 8,200,000 | g | Muenchener Rueckversicherungs-Gesellschaft AG. in Muenchen | 5.875 | 05/23/42 | 8,241 | |||||||||||||
| 11,875,000 | PartnerRe Finance B LLC | 4.500 | 10/01/50 | 9,881 | ||||||||||||||
| 5,250,000 | Principal Financial Group, Inc | 2.125 | 06/15/30 | 4,339 | ||||||||||||||
| 1,450,000 | Prudential Financial, Inc | 3.905 | 12/07/47 | 1,250 | ||||||||||||||
| 6,960,000 | Prudential Financial, Inc | 3.700 | 10/01/50 | 5,826 | ||||||||||||||
| 3,875,000 | Prudential Financial, Inc | 5.125 | 03/01/52 | 3,577 | ||||||||||||||
| 3,000,000 | g | Prudential Funding LLC | 6.750 | 09/15/23 | 3,098 | |||||||||||||
| 4,150,000 | Reinsurance Group of America, Inc | 3.900 | 05/15/29 | 3,903 | ||||||||||||||
| TOTAL INSURANCE | 156,418 | |||||||||||||||||
| MATERIALS - 1.3% | ||||||||||||||||||
| 7,975,000 | Albemarle Corp | 4.650 | 06/01/27 | 7,848 | ||||||||||||||
| 1,925,000 | e,g | Alpek SAB de C.V. | 4.250 | 09/18/29 | 1,731 | |||||||||||||
| 2,600,000 | g | Alpek SAB de C.V. | 3.250 | 02/25/31 | 2,085 | |||||||||||||
| 9,400,000 | Amcor Flexibles North America, Inc | 2.690 | 05/25/31 | 7,670 | ||||||||||||||
| 2,600,000 | g | Anglo American Capital plc | 3.875 | 03/16/29 | 2,391 | |||||||||||||
| 4,550,000 | g | Anglo American Capital plc | 2.625 | 09/10/30 | 3,744 | |||||||||||||
| 4,300,000 | AngloGold Ashanti Holdings plc | 3.375 | 11/01/28 | 3,640 | ||||||||||||||
| 11,325,000 | AngloGold Ashanti Holdings plc | 3.750 | 10/01/30 | 9,324 | ||||||||||||||
| 2,000,000 | g | Antofagasta plc | 5.625 | 05/13/32 | 1,927 | |||||||||||||
| EUR | 500,000 | g | Ardagh Metal Packaging Finance USA LLC | 2.000 | 09/01/28 | 413 | ||||||||||||
| 500,000 | g | Ardagh Metal Packaging Finance USA LLC | 3.000 | 09/01/29 | 389 | |||||||||||||
| 200,000 | g | Ashland Services BV | 2.000 | 01/30/28 | 171 | |||||||||||||
| 250,000 | Ball Corp | 4.375 | 12/15/23 | 265 | ||||||||||||||
| 425,000 | Ball Corp | 0.875 | 03/15/24 | 418 | ||||||||||||||
| $ | 1,875,000 | Ball Corp | 2.875 | 08/15/30 | 1,509 | |||||||||||||
| 852,000 | Bemis Co, Inc | 3.100 | 09/15/26 | 817 | ||||||||||||||
| 4,879,000 | Bemis Co, Inc | 2.630 | 06/19/30 | 4,001 | ||||||||||||||
| 14,250,000 | Berry Global, Inc | 1.570 | 01/15/26 | 12,707 | ||||||||||||||
| 200,000 | Celulosa Arauco y Constitucion S.A. | 3.875 | 11/02/27 | 184 | ||||||||||||||
| 3,000,000 | g | Celulosa Arauco y Constitucion S.A. | 4.250 | 04/30/29 | 2,693 | |||||||||||||
| 1,650,000 | g | Celulosa Arauco y Constitucion S.A. | 4.200 | 01/29/30 | 1,464 | |||||||||||||
| 2,000,000 | g | Cemex SAB de C.V. | 7.375 | 06/05/27 | 1,982 | |||||||||||||
| 2,500,000 | g | Cemex SAB de C.V. | 5.450 | 11/19/29 | 2,223 | |||||||||||||
| 2,925,000 | g | Cemex SAB de C.V. | 3.875 | 07/11/31 | 2,194 | |||||||||||||
| 1,600,000 | g | Cemex SAB de C.V. | 5.125 | N/A‡ | 1,358 | |||||||||||||
| 5,625,000 | Church & Dwight Co, Inc | 5.000 | 06/15/52 | 5,750 | ||||||||||||||
| 4,200,000 | g | Corp Nacional del Cobre de Chile | 3.625 | 08/01/27 | 3,977 | |||||||||||||
| EUR | 500,000 | Dow Chemical Co | 0.500 | 03/15/27 | 462 | |||||||||||||
| $ | 1,800,000 | e,g | Freeport Indonesia PT | 4.763 | 04/14/27 | 1,723 | ||||||||||||
| 3,000,000 | Freeport-McMoRan, Inc | 5.450 | 03/15/43 | 2,775 | ||||||||||||||
| 2,400,000 | g | Fresnillo plc | 4.250 | 10/02/50 | 1,761 | |||||||||||||
| 1,975,000 | g | GCC SAB de C.V. | 3.614 | 04/20/32 | 1,612 | |||||||||||||
| 1,850,000 | g | Gold Fields Orogen Holdings BVI Ltd | 6.125 | 05/15/29 | 1,890 | |||||||||||||
| EUR | 400,000 | International Flavors & Fragrances, Inc | 1.800 | 09/25/26 | 394 | |||||||||||||
| $ | 1,519,000 | e | International Paper Co | 4.350 | 08/15/48 | 1,349 | ||||||||||||
| 3,000,000 | e,g | Inversiones CMPC S.A. | 4.375 | 04/04/27 | 2,858 | |||||||||||||
| 3,600,000 | g | Inversiones CMPC S.A. | 3.000 | 04/06/31 | 2,882 | |||||||||||||
| 3,525,000 | g | Midwest Connector Capital Co LLC | 4.625 | 04/01/29 | 3,324 | |||||||||||||
| 1,100,000 | Mosaic Co | 4.875 | 11/15/41 | 1,006 | ||||||||||||||
| 4,000,000 | Newmont Corp | 2.250 | 10/01/30 | 3,320 | ||||||||||||||
| 3,400,000 | Newmont Corp | 2.600 | 07/15/32 | 2,806 | ||||||||||||||
| 322 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 7,500,000 | Nutrien Ltd | 2.950 | % | 05/13/30 | $ | 6,674 | |||||||||||
| 1,920,000 | g | OCI NV | 4.625 | 10/15/25 | 1,853 | |||||||||||||
| 875,000 | g | OCP S.A. | 3.750 | 06/23/31 | 659 | |||||||||||||
| EUR | 250,000 | g | OI European Group BV | 3.125 | 11/15/24 | 247 | ||||||||||||
| 250,000 | g | Olympus Water US Holding Corp | 3.875 | 10/01/28 | 212 | |||||||||||||
| $ | 3,800,000 | g | Orbia Advance Corp SAB de C.V. | 1.875 | 05/11/26 | 3,392 | ||||||||||||
| 375,000 | g | PolyOne Corp | 5.750 | 05/15/25 | 359 | |||||||||||||
| 250,000 | g | SABIC Capital II BV | 4.000 | 10/10/23 | 250 | |||||||||||||
| 1,850,000 | Sasol Financing USA LLC | 5.875 | 03/27/24 | 1,809 | ||||||||||||||
| 2,575,000 | Sasol Financing USA LLC | 4.375 | 09/18/26 | 2,270 | ||||||||||||||
| EUR | 400,000 | Silgan Holdings, Inc | 3.250 | 03/15/25 | 395 | |||||||||||||
| $ | 4,525,000 | g | Sociedad Quimica y Minera de Chile S.A. | 3.500 | 09/10/51 | 3,343 | ||||||||||||
| 1,925,000 | Suzano Austria GmbH | 6.000 | 01/15/29 | 1,908 | ||||||||||||||
| 4,300,000 | Suzano Austria GmbH | 3.125 | 01/15/32 | 3,237 | ||||||||||||||
| 200,000 | g | UltraTech Cement Ltd | 2.800 | 02/16/31 | 158 | |||||||||||||
| 3,600,000 | WRKCo, Inc | 4.900 | 03/15/29 | 3,611 | ||||||||||||||
| 4,450,000 | WRKCo, Inc | 3.000 | 06/15/33 | 3,771 | ||||||||||||||
| TOTAL MATERIALS | 145,185 | |||||||||||||||||
| MEDIA & ENTERTAINMENT - 2.3% | ||||||||||||||||||
| 4,350,000 | Activision Blizzard, Inc | 3.400 | 09/15/26 | 4,269 | ||||||||||||||
| 1,950,000 | g | Adani Electricity Mumbai Ltd | 3.867 | 07/22/31 | 1,532 | |||||||||||||
| 6,200,000 | Agree LP | 2.000 | 06/15/28 | 5,294 | ||||||||||||||
| EUR | 1,000,000 | g | Albion Financing SARL | 5.250 | 10/15/26 | 874 | ||||||||||||
| $ | 3,989,216 | g | Alfa Desarrollo S.p.A | 4.550 | 09/27/51 | 2,862 | ||||||||||||
| 300,000 | g | Arabian Centres Sukuk II Ltd | 5.625 | 10/07/26 | 273 | |||||||||||||
| 9,650,000 | e | AstraZeneca Finance LLC | 2.250 | 05/28/31 | 8,400 | |||||||||||||
| 2,800,000 | e | Baidu, Inc | 2.875 | 07/06/22 | 2,800 | |||||||||||||
| 1,725,000 | Baidu, Inc | 4.375 | 05/14/24 | 1,737 | ||||||||||||||
| 1,550,000 | Baidu, Inc | 1.625 | 02/23/27 | 1,381 | ||||||||||||||
| 3,000,000 | g | Banco Nacional de Panama | 2.500 | 08/11/30 | 2,381 | |||||||||||||
| EUR | 400,000 | g | Blackstone Private Credit Fund | 1.750 | 11/30/26 | 366 | ||||||||||||
| $ | 4,000,000 | g | BOC Aviation USA Corp | 1.625 | 04/29/24 | 3,832 | ||||||||||||
| EUR | 750,000 | g | BOI Finance BV | 7.500 | 02/16/27 | 628 | ||||||||||||
| $ | 1,775,000 | g | Cable Onda S.A. | 4.500 | 01/30/30 | 1,490 | ||||||||||||
| 5,000,000 | g | CCO Holdings LLC | 4.250 | 02/01/31 | 4,075 | |||||||||||||
| 8,625,000 | Charter Communications Operating LLC | 2.250 | 01/15/29 | 7,087 | ||||||||||||||
| 6,350,000 | Charter Communications Operating LLC | 2.800 | 04/01/31 | 5,085 | ||||||||||||||
| 15,000,000 | Charter Communications Operating LLC | 3.500 | 03/01/42 | 10,409 | ||||||||||||||
| 6,150,000 | Charter Communications Operating LLC | 5.125 | 07/01/49 | 5,091 | ||||||||||||||
| 21,620,000 | Charter Communications Operating LLC | 4.800 | 03/01/50 | 17,131 | ||||||||||||||
| 5,000,000 | Charter Communications Operating LLC | 3.700 | 04/01/51 | 3,383 | ||||||||||||||
| 17,300,000 | Comcast Corp | 2.350 | 01/15/27 | 16,126 | ||||||||||||||
| EUR | 450,000 | Comcast Corp | 0.250 | 05/20/27 | 421 | |||||||||||||
| $ | 18,750,000 | Comcast Corp | 4.150 | 10/15/28 | 18,698 | |||||||||||||
| 17,400,000 | Comcast Corp | 1.500 | 02/15/31 | 13,984 | ||||||||||||||
| 4,100,000 | Comcast Corp | 4.400 | 08/15/35 | 3,973 | ||||||||||||||
| 18,200,000 | Comcast Corp | 3.200 | 07/15/36 | 15,410 | ||||||||||||||
| 2,300,000 | Comcast Corp | 3.900 | 03/01/38 | 2,080 | ||||||||||||||
| 12,925,000 | Comcast Corp | 2.800 | 01/15/51 | 9,145 | ||||||||||||||
| 17,200,000 | Comcast Corp | 2.887 | 11/01/51 | 12,287 | ||||||||||||||
| 3,395,000 | Comcast Corp | 2.937 | 11/01/56 | 2,359 | ||||||||||||||
| 5,000,000 | g | CSC Holdings LLC | 3.375 | 02/15/31 | 3,697 | |||||||||||||
| 323 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 2,099,000 | Discovery Communications LLC | 2.950 | % | 03/20/23 | $ | 2,085 | |||||||||||
| GBP | 300,000 | Discovery Communications LLC | 2.500 | 09/20/24 | 357 | |||||||||||||
| $ | 4,800,000 | Discovery Communications LLC | 3.625 | 05/15/30 | 4,268 | |||||||||||||
| 3,000,000 | g | EIG Pearl Holdings Sarl | 3.545 | 08/31/36 | 2,550 | |||||||||||||
| 1,550,000 | e,g | Empresa de los Ferrocarriles del Estado | 3.068 | 08/18/50 | 930 | |||||||||||||
| 200,000 | g | ENN Clean Energy International Investment Ltd | 3.375 | 05/12/26 | 182 | |||||||||||||
| 4,300,000 | g | Genm Capital Labuan Ltd | 3.882 | 04/19/31 | 3,404 | |||||||||||||
| EUR | 205,000 | g | Goodyear Europe BV | 2.750 | 08/15/28 | 161 | ||||||||||||
| $ | 1,895,000 | Grupo Televisa SAB | 6.625 | 01/15/40 | 2,065 | |||||||||||||
| 5,975,000 | g | GSK Consumer Healthcare Capital US LLC | 3.375 | 03/24/27 | 5,719 | |||||||||||||
| 5,500,000 | g | GSK Consumer Healthcare Capital US LLC | 3.625 | 03/24/32 | 5,083 | |||||||||||||
| 2,000,000 | g | Interchile S.A. | 4.500 | 06/30/56 | 1,643 | |||||||||||||
| 650,000 | Lamar Media Corp | 3.750 | 02/15/28 | 577 | ||||||||||||||
| 1,000,000 | Lamar Media Corp | 4.000 | 02/15/30 | 840 | ||||||||||||||
| 935,000 | †,g | LUKOIL Capital DAC | 2.800 | 04/26/27 | 566 | |||||||||||||
| 4,000,000 | †,g | LUKOIL Securities BV | 3.875 | 05/06/30 | 2,020 | |||||||||||||
| 20,550,000 | g | Magallanes, Inc | 5.050 | 03/15/42 | 17,484 | |||||||||||||
| 3,260,000 | g | Mexico Remittances Funding Fiduciary Estate Management Sarl | 4.875 | 01/15/28 | 2,641 | |||||||||||||
| 3,175,000 | g | Misc Capital Two Labuan Ltd | 3.625 | 04/06/25 | 3,089 | |||||||||||||
| 3,260,000 | g | Misc Capital Two Labuan Ltd | 3.750 | 04/06/27 | 3,062 | |||||||||||||
| 2,675,000 | g | Sirius XM Radio, Inc | 4.125 | 07/01/30 | 2,234 | |||||||||||||
| 975,000 | g | TEGNA, Inc | 4.750 | 03/15/26 | 936 | |||||||||||||
| 675,000 | TEGNA, Inc | 4.625 | 03/15/28 | 631 | ||||||||||||||
| GBP | 200,000 | Time Warner Cable LLC | 5.750 | 06/02/31 | 251 | |||||||||||||
| $ | 4,400,000 | Time Warner Cable LLC | 5.875 | 11/15/40 | 4,032 | |||||||||||||
| 3,825,000 | Time Warner Cable LLC | 4.500 | 09/15/42 | 2,986 | ||||||||||||||
| 1,575,000 | TSMC Arizona Corp | 1.750 | 10/25/26 | 1,448 | ||||||||||||||
| 1,325,000 | TSMC Arizona Corp | 3.875 | 04/22/27 | 1,321 | ||||||||||||||
| 200,000 | TSMC Arizona Corp | 4.125 | 04/22/29 | 199 | ||||||||||||||
| 125,000 | g | Univision Communications, Inc | 4.500 | 05/01/29 | 105 | |||||||||||||
| EUR | 700,000 | g | VZ Secured Financing BV | 3.500 | 01/15/32 | 549 | ||||||||||||
| $ | 2,105,000 | Walt Disney Co | 7.625 | 11/30/28 | 2,478 | |||||||||||||
| 2,700,000 | Weibo Corp | 3.375 | 07/08/30 | 2,193 | ||||||||||||||
| EUR | 500,000 | Whirlpool EMEA Finance Sarl | 0.500 | 02/20/28 | 444 | |||||||||||||
| TOTAL MEDIA & ENTERTAINMENT | 267,093 | |||||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.9% | ||||||||||||||||||
| 400,000 | Abbott Ireland Financing DAC | 1.500 | 09/27/26 | 408 | ||||||||||||||
| $ | 3,250,000 | AbbVie, Inc | 2.850 | 05/14/23 | 3,239 | |||||||||||||
| EUR | 550,000 | AbbVie, Inc | 1.250 | 06/01/24 | 566 | |||||||||||||
| $ | 8,700,000 | AbbVie, Inc | 3.800 | 03/15/25 | 8,630 | |||||||||||||
| 23,650,000 | AbbVie, Inc | 4.050 | 11/21/39 | 21,089 | ||||||||||||||
| 8,325,000 | AbbVie, Inc | 4.400 | 11/06/42 | 7,566 | ||||||||||||||
| 2,230,000 | AbbVie, Inc | 4.450 | 05/14/46 | 2,023 | ||||||||||||||
| 4,650,000 | AbbVie, Inc | 4.250 | 11/21/49 | 4,128 | ||||||||||||||
| 5,650,000 | AstraZeneca plc | 3.125 | 06/12/27 | 5,433 | ||||||||||||||
| 6,510,000 | AstraZeneca plc | 1.375 | 08/06/30 | 5,344 | ||||||||||||||
| EUR | 750,000 | g | Avantor Funding, Inc | 3.875 | 07/15/28 | 679 | ||||||||||||
| $ | 1,500,000 | g | Avantor Funding, Inc | 4.625 | 07/15/28 | 1,375 | ||||||||||||
| 6,200,000 | Bristol-Myers Squibb Co | 2.350 | 11/13/40 | 4,586 | ||||||||||||||
| 2,000,000 | Bristol-Myers Squibb Co | 3.550 | 03/15/42 | 1,757 | ||||||||||||||
| 3,650,000 | Danaher Corp | 2.800 | 12/10/51 | 2,629 | ||||||||||||||
| 11,675,000 | Gilead Sciences, Inc | 2.800 | 10/01/50 | 8,147 | ||||||||||||||
| 324 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 2,150,000 | Johnson & Johnson | 3.400 | % | 01/15/38 | $ | 1,934 | |||||||||||
| 4,025,000 | Merck & Co, Inc | 2.750 | 12/10/51 | 2,972 | ||||||||||||||
| EUR | 600,000 | g | Organon Finance LLC | 2.875 | 04/30/28 | 525 | ||||||||||||
| $ | 750,000 | g | Organon Finance LLC | 5.125 | 04/30/31 | 647 | ||||||||||||
| EUR | 500,000 | Takeda Pharmaceutical Co Ltd | 1.000 | 07/09/29 | 453 | |||||||||||||
| $ | 21,850,000 | Takeda Pharmaceutical Co Ltd | 2.050 | 03/31/30 | 18,276 | |||||||||||||
| EUR | 400,000 | Takeda Pharmaceutical Co Ltd | 1.375 | 07/09/32 | 346 | |||||||||||||
| $ | 1,975,000 | Takeda Pharmaceutical Co Ltd | 3.025 | 07/09/40 | 1,520 | |||||||||||||
| 1,045,000 | Teva Pharmaceutical Finance Netherlands III BV | 4.750 | 05/09/27 | 893 | ||||||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 105,165 | |||||||||||||||||
| REAL ESTATE - 2.5% | ||||||||||||||||||
| 1,675,000 | Alexandria Real Estate Equities, Inc | 3.950 | 01/15/27 | 1,650 | ||||||||||||||
| 2,300,000 | Alexandria Real Estate Equities, Inc | 3.950 | 01/15/28 | 2,226 | ||||||||||||||
| 5,500,000 | Alexandria Real Estate Equities, Inc | 4.900 | 12/15/30 | 5,459 | ||||||||||||||
| 2,418,000 | American Tower Corp | 3.375 | 10/15/26 | 2,286 | ||||||||||||||
| EUR | 650,000 | American Tower Corp | 0.450 | 01/15/27 | 593 | |||||||||||||
| $ | 1,600,000 | American Tower Corp | 3.600 | 01/15/28 | 1,496 | |||||||||||||
| 8,850,000 | American Tower Corp | 3.800 | 08/15/29 | 8,123 | ||||||||||||||
| 13,700,000 | American Tower Corp | 2.900 | 01/15/30 | 11,729 | ||||||||||||||
| 2,750,000 | American Tower Corp | 2.100 | 06/15/30 | 2,202 | ||||||||||||||
| 3,825,000 | American Tower Corp | 1.875 | 10/15/30 | 2,976 | ||||||||||||||
| 5,575,000 | Brandywine Operating Partnership LP | 4.100 | 10/01/24 | 5,522 | ||||||||||||||
| 5,825,000 | Brixmor Operating Partnership LP | 3.850 | 02/01/25 | 5,732 | ||||||||||||||
| 1,075,000 | Brixmor Operating Partnership LP | 2.250 | 04/01/28 | 922 | ||||||||||||||
| 1,300,000 | Brixmor Operating Partnership LP | 2.500 | 08/16/31 | 1,019 | ||||||||||||||
| 1,050,000 | Camden Property Trust | 3.150 | 07/01/29 | 959 | ||||||||||||||
| 15,425,000 | Crown Castle International Corp | 2.250 | 01/15/31 | 12,512 | ||||||||||||||
| 1,800,000 | Crown Castle International Corp | 2.100 | 04/01/31 | 1,432 | ||||||||||||||
| 3,200,000 | CubeSmart LP | 2.250 | 12/15/28 | 2,734 | ||||||||||||||
| GBP | 400,000 | Digital Stout Holding LLC | 3.750 | 10/17/30 | 449 | |||||||||||||
| $ | 1,600,000 | Duke Realty LP | 3.250 | 06/30/26 | 1,541 | |||||||||||||
| 2,525,000 | Duke Realty LP | 2.875 | 11/15/29 | 2,269 | ||||||||||||||
| 3,125,000 | Duke Realty LP | 1.750 | 07/01/30 | 2,556 | ||||||||||||||
| 2,275,000 | Equinix, Inc | 2.150 | 07/15/30 | 1,840 | ||||||||||||||
| 6,700,000 | Essex Portfolio LP | 3.000 | 01/15/30 | 5,921 | ||||||||||||||
| 3,050,000 | Federal Realty Investment Trust | 1.250 | 02/15/26 | 2,729 | ||||||||||||||
| 6,600,000 | Healthcare Realty Trust, Inc | 3.875 | 05/01/25 | 6,470 | ||||||||||||||
| 3,000,000 | Healthcare Realty Trust, Inc | 3.625 | 01/15/28 | 2,799 | ||||||||||||||
| 1,750,000 | Healthcare Realty Trust, Inc | 2.400 | 03/15/30 | 1,448 | ||||||||||||||
| 1,050,000 | e | Healthcare Realty Trust, Inc | 2.050 | 03/15/31 | 825 | |||||||||||||
| 6,250,000 | Healthcare Trust of America Holdings LP | 3.500 | 08/01/26 | 5,948 | ||||||||||||||
| 8,975,000 | Healthcare Trust of America Holdings LP | 3.100 | 02/15/30 | 7,733 | ||||||||||||||
| 7,950,000 | Highwoods Realty LP | 3.875 | 03/01/27 | 7,651 | ||||||||||||||
| 2,900,000 | Highwoods Realty LP | 4.125 | 03/15/28 | 2,772 | ||||||||||||||
| 2,875,000 | Highwoods Realty LP | 4.200 | 04/15/29 | 2,696 | ||||||||||||||
| 6,000,000 | Highwoods Realty LP | 3.050 | 02/15/30 | 5,165 | ||||||||||||||
| 1,833,000 | Hudson Pacific Properties LP | 3.950 | 11/01/27 | 1,745 | ||||||||||||||
| 3,875,000 | Life Storage LP | 2.400 | 10/15/31 | 3,084 | ||||||||||||||
| 5,224,000 | Mid-America Apartments LP | 4.300 | 10/15/23 | 5,254 | ||||||||||||||
| 5,525,000 | Mid-America Apartments LP | 3.750 | 06/15/24 | 5,505 | ||||||||||||||
| 4,300,000 | Mid-America Apartments LP | 4.000 | 11/15/25 | 4,269 | ||||||||||||||
| 11,100,000 | Mid-America Apartments LP | 2.750 | 03/15/30 | 9,669 | ||||||||||||||
| 325 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 3,950,000 | Mid-America Apartments LP | 1.700 | % | 02/15/31 | $ | 3,124 | |||||||||||
| 3,050,000 | Mid-America Apartments LP | 2.875 | 09/15/51 | 2,115 | ||||||||||||||
| 2,575,000 | National Retail Properties, Inc | 4.000 | 11/15/25 | 2,561 | ||||||||||||||
| 3,000,000 | National Retail Properties, Inc | 3.600 | 12/15/26 | 2,887 | ||||||||||||||
| EUR | 360,000 | ProLogis Euro Finance LLC | 0.375 | 02/06/28 | 322 | |||||||||||||
| $ | 7,225,000 | Regency Centers LP | 3.900 | 11/01/25 | 7,112 | |||||||||||||
| 2,250,000 | Regency Centers LP | 3.600 | 02/01/27 | 2,176 | ||||||||||||||
| 5,500,000 | Regency Centers LP | 2.950 | 09/15/29 | 4,833 | ||||||||||||||
| 5,300,000 | Retail Properties of America, Inc | 4.750 | 09/15/30 | 4,934 | ||||||||||||||
| 10,150,000 | g | SBA Tower Trust | 2.836 | 01/15/25 | 9,796 | |||||||||||||
| 11,046,000 | g | SBA Tower Trust | 1.884 | 01/15/26 | 10,200 | |||||||||||||
| 25,000,000 | g | SBA Tower Trust | 1.631 | 11/15/26 | 22,363 | |||||||||||||
| 42,100,000 | g | SBA Tower Trust | 1.840 | 04/15/27 | 37,510 | |||||||||||||
| 2,968,000 | SITE Centers Corp | 3.625 | 02/01/25 | 2,885 | ||||||||||||||
| 3,850,000 | SITE Centers Corp | 4.700 | 06/01/27 | 3,799 | ||||||||||||||
| EUR | 400,000 | Vonovia SE | 0.625 | 12/14/29 | 322 | |||||||||||||
| $ | 4,800,000 | Weingarten Realty Investors | 3.500 | 04/15/23 | 4,809 | |||||||||||||
| 3,025,000 | Weingarten Realty Investors | 4.450 | 01/15/24 | 3,034 | ||||||||||||||
| 1,300,000 | Weingarten Realty Investors | 3.250 | 08/15/26 | 1,250 | ||||||||||||||
| 1,425,000 | Weyerhaeuser Co | 4.000 | 03/09/52 | 1,176 | ||||||||||||||
| TOTAL REAL ESTATE | 287,118 | |||||||||||||||||
| RETAILING - 0.5% | ||||||||||||||||||
| 2,950,000 | AutoNation, Inc | 3.800 | 11/15/27 | 2,787 | ||||||||||||||
| 5,575,000 | AutoZone, Inc | 1.650 | 01/15/31 | 4,371 | ||||||||||||||
| 900,000 | Chevron USA, Inc | 3.900 | 11/15/24 | 911 | ||||||||||||||
| 550,000 | g | Group 1 Automotive, Inc | 4.000 | 08/15/28 | 460 | |||||||||||||
| 350,000 | JD.com, Inc | 3.375 | 01/14/30 | 320 | ||||||||||||||
| 2,665,000 | g | Kia Corp | 2.375 | 02/14/25 | 2,549 | |||||||||||||
| 200,000 | g | Kia Corp | 2.750 | 02/14/27 | 187 | |||||||||||||
| 925,000 | g | L Brands, Inc | 6.625 | 10/01/30 | 799 | |||||||||||||
| 875,000 | g | Lithia Motors, Inc | 4.625 | 12/15/27 | 802 | |||||||||||||
| 5,100,000 | O’Reilly Automotive, Inc | 3.550 | 03/15/26 | 5,055 | ||||||||||||||
| 6,875,000 | O’Reilly Automotive, Inc | 3.600 | 09/01/27 | 6,639 | ||||||||||||||
| 4,075,000 | O’Reilly Automotive, Inc | 4.200 | 04/01/30 | 3,934 | ||||||||||||||
| 12,400,000 | e | O’Reilly Automotive, Inc | 1.750 | 03/15/31 | 9,829 | |||||||||||||
| 6,000,000 | g | Prosus NV | 3.832 | 02/08/51 | 3,615 | |||||||||||||
| 3,000,000 | g | Staples, Inc | 7.500 | 04/15/26 | 2,487 | |||||||||||||
| 9,375,000 | Target Corp | 2.350 | 02/15/30 | 8,279 | ||||||||||||||
| TOTAL RETAILING | 53,024 | |||||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.6% | ||||||||||||||||||
| 17,525,000 | g | Broadcom, Inc | 2.450 | 02/15/31 | 14,080 | |||||||||||||
| 9,400,000 | g | Broadcom, Inc | 3.469 | 04/15/34 | 7,650 | |||||||||||||
| 5,619,000 | g | Broadcom, Inc | 3.187 | 11/15/36 | 4,271 | |||||||||||||
| 8,531,000 | g | Broadcom, Inc | 4.926 | 05/15/37 | 7,648 | |||||||||||||
| 1,675,000 | Intel Corp | 3.734 | 12/08/47 | 1,421 | ||||||||||||||
| 2,875,000 | Lam Research Corp | 3.750 | 03/15/26 | 2,868 | ||||||||||||||
| 3,275,000 | Lam Research Corp | 4.000 | 03/15/29 | 3,218 | ||||||||||||||
| 8,375,000 | NVIDIA Corp | 2.000 | 06/15/31 | 7,111 | ||||||||||||||
| 1,100,000 | g | NXP BV | 2.700 | 05/01/25 | 1,046 | |||||||||||||
| 5,725,000 | NXP BV | 3.875 | 06/18/26 | 5,514 | ||||||||||||||
| 3,475,000 | NXP BV | 4.400 | 06/01/27 | 3,421 | ||||||||||||||
| 4,750,000 | e | NXP BV | 3.125 | 02/15/42 | 3,455 | |||||||||||||
| 326 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 4,800,000 | g | SK Hynix, Inc | 1.500 | % | 01/19/26 | $ | 4,314 | ||||||||||
| 2,200,000 | Texas Instruments, Inc | 4.150 | 05/15/48 | 2,110 | ||||||||||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 68,127 | |||||||||||||||||
| SOFTWARE & SERVICES - 0.6% | ||||||||||||||||||
| 7,350,000 | Adobe, Inc | 2.300 | 02/01/30 | 6,491 | ||||||||||||||
| 200,000 | g | CA Magnum Holdings | 5.375 | 10/31/26 | 173 | |||||||||||||
| 100,000 | g | Camelot Finance S.A. | 4.500 | 11/01/26 | 91 | |||||||||||||
| EUR | 375,000 | Fidelity National Information Services, Inc | 1.100 | 07/15/24 | 383 | |||||||||||||
| $ | 900,000 | g | Gartner, Inc | 3.750 | 10/01/30 | 766 | ||||||||||||
| 4,700,000 | g | HCL America, Inc | 1.375 | 03/10/26 | 4,229 | |||||||||||||
| EUR | 400,000 | International Business Machines Corp | 0.650 | 02/11/32 | 337 | |||||||||||||
| 500,000 | g | IQVIA, Inc | 1.750 | 03/15/26 | 460 | |||||||||||||
| $ | 1,413,000 | g | j2 Global, Inc | 4.625 | 10/15/30 | 1,204 | ||||||||||||
| 26,300,000 | Microsoft Corp | 2.400 | 08/08/26 | 25,276 | ||||||||||||||
| 5,645,000 | Microsoft Corp | 2.525 | 06/01/50 | 4,158 | ||||||||||||||
| 550,000 | g | Open Text Holdings, Inc | 4.125 | 02/15/30 | 476 | |||||||||||||
| 5,475,000 | Roper Technologies, Inc | 1.400 | 09/15/27 | 4,690 | ||||||||||||||
| 2,425,000 | salesforce.com, Inc | 3.700 | 04/11/28 | 2,397 | ||||||||||||||
| 4,450,000 | salesforce.com, Inc | 1.950 | 07/15/31 | 3,780 | ||||||||||||||
| 5,775,000 | salesforce.com, Inc | 2.700 | 07/15/41 | 4,464 | ||||||||||||||
| 4,850,000 | Take-Two Interactive Software, Inc | 3.700 | 04/14/27 | 4,708 | ||||||||||||||
| 4,225,000 | Visa, Inc | 2.700 | 04/15/40 | 3,397 | ||||||||||||||
| TOTAL SOFTWARE & SERVICES | 67,480 | |||||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 0.5% | ||||||||||||||||||
| 5,125,000 | Amphenol Corp | 2.800 | 02/15/30 | 4,487 | ||||||||||||||
| 8,075,000 | Apple, Inc | 2.450 | 08/04/26 | 7,724 | ||||||||||||||
| 26,100,000 | Apple, Inc | 2.050 | 09/11/26 | 24,573 | ||||||||||||||
| 3,750,000 | Apple, Inc | 4.650 | 02/23/46 | 3,860 | ||||||||||||||
| 4,675,000 | Apple, Inc | 2.650 | 02/08/51 | 3,445 | ||||||||||||||
| 1,525,000 | Corning, Inc | 4.375 | 11/15/57 | 1,248 | ||||||||||||||
| 5,375,000 | Dell International LLC | 5.300 | 10/01/29 | 5,299 | ||||||||||||||
| 2,175,000 | Tyco Electronics Group S.A. | 3.700 | 02/15/26 | 2,165 | ||||||||||||||
| 4,800,000 | g | Wipro IT Services LLC | 1.500 | 06/23/26 | 4,309 | |||||||||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT | 57,110 | |||||||||||||||||
| TELECOMMUNICATION SERVICES - 2.3% | ||||||||||||||||||
| EUR | 400,000 | g | Altice France S.A. | 3.375 | 01/15/28 | 312 | ||||||||||||
| $ | 2,300,000 | g | America Movil SAB de C.V. | 5.375 | 04/04/32 | 2,041 | ||||||||||||
| EUR | 500,000 | AT&T, Inc | 2.350 | 09/05/29 | 503 | |||||||||||||
| $ | 42,943,000 | AT&T, Inc | 2.550 | 12/01/33 | 34,837 | |||||||||||||
| 9,000,000 | AT&T, Inc | 4.500 | 05/15/35 | 8,552 | ||||||||||||||
| 8,000,000 | AT&T, Inc | 3.500 | 06/01/41 | 6,388 | ||||||||||||||
| 37,195,000 | AT&T, Inc | 3.550 | 09/15/55 | 27,868 | ||||||||||||||
| 8,553,000 | AT&T, Inc | 3.800 | 12/01/57 | 6,606 | ||||||||||||||
| 5,127,000 | AT&T, Inc | 3.650 | 09/15/59 | 3,840 | ||||||||||||||
| 7,225,000 | g | Bharti Airtel Ltd | 3.250 | 06/03/31 | 6,043 | |||||||||||||
| 3,000,000 | g | C&W Senior Financing Designated Activity Co | 6.875 | 09/15/27 | 2,701 | |||||||||||||
| 2,000,000 | Deutsche Telekom International Finance BV | 8.750 | 06/15/30 | 2,466 | ||||||||||||||
| EUR | 915,000 | g | Iliad Holding SAS | 5.125 | 10/15/26 | 852 | ||||||||||||
| $ | 1,175,000 | g | Millicom International Cellular S.A. | 4.500 | 04/27/31 | 869 | ||||||||||||
| 327 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 4,000,000 | g | MTN Mauritius Investment Ltd | 6.500 | % | 10/13/26 | $ | 3,920 | ||||||||||
| 2,350,000 | g | Ooredoo International Finance Ltd | 2.625 | 04/08/31 | 2,033 | |||||||||||||
| 2,825,000 | Orange S.A. | 5.375 | 01/13/42 | 2,921 | ||||||||||||||
| 2,125,000 | Telefonica Emisiones SAU | 4.103 | 03/08/27 | 2,080 | ||||||||||||||
| 32,175,000 | T-Mobile USA, Inc | 3.875 | 04/15/30 | 30,027 | ||||||||||||||
| 18,500,000 | T-Mobile USA, Inc | 2.550 | 02/15/31 | 15,567 | ||||||||||||||
| 2,525,000 | T-Mobile USA, Inc | 3.000 | 02/15/41 | 1,883 | ||||||||||||||
| 2,350,000 | T-Mobile USA, Inc | 4.500 | 04/15/50 | 2,085 | ||||||||||||||
| 7,800,000 | T-Mobile USA, Inc | 3.300 | 02/15/51 | 5,680 | ||||||||||||||
| EUR | 400,000 | Verizon Communications, Inc | 1.875 | 10/26/29 | 391 | |||||||||||||
| $ | 24,589,000 | Verizon Communications, Inc | 3.150 | 03/22/30 | 22,356 | |||||||||||||
| 2,325,000 | Verizon Communications, Inc | 1.680 | 10/30/30 | 1,874 | ||||||||||||||
| 7,525,000 | Verizon Communications, Inc | 1.750 | 01/20/31 | 6,044 | ||||||||||||||
| 17,100,000 | Verizon Communications, Inc | 2.550 | 03/21/31 | 14,621 | ||||||||||||||
| 20,626,000 | Verizon Communications, Inc | 2.355 | 03/15/32 | 17,102 | ||||||||||||||
| EUR | 300,000 | Verizon Communications, Inc | 2.875 | 01/15/38 | 284 | |||||||||||||
| $ | 17,525,000 | Verizon Communications, Inc | 2.650 | 11/20/40 | 12,856 | |||||||||||||
| 7,625,000 | Verizon Communications, Inc | 3.400 | 03/22/41 | 6,207 | ||||||||||||||
| GBP | 1,000,000 | g | Vmed O2 UK Financing I plc | 4.500 | 07/15/31 | 962 | ||||||||||||
| $ | 7,000,000 | Vodafone Group plc | 4.375 | 02/19/43 | 6,083 | |||||||||||||
| 5,500,000 | Vodafone Group plc | 4.250 | 09/17/50 | 4,626 | ||||||||||||||
| TOTAL TELECOMMUNICATION SERVICES | 263,480 | |||||||||||||||||
| TRANSPORTATION - 0.4% | ||||||||||||||||||
| 1,850,000 | g | Adani Ports & Special Economic Zone Ltd | 4.000 | 07/30/27 | 1,704 | |||||||||||||
| 2,000,000 | g | Adani Ports & Special Economic Zone Ltd | 4.200 | 08/04/27 | 1,862 | |||||||||||||
| 2,700,000 | g | Adani Ports & Special Economic Zone Ltd | 3.100 | 02/02/31 | 2,105 | |||||||||||||
| 4,075,000 | Burlington Northern Santa Fe LLC | 3.050 | 02/15/51 | 3,099 | ||||||||||||||
| 3,700,000 | Canadian Pacific Railway Co | 2.050 | 03/05/30 | 3,131 | ||||||||||||||
| 5,600,000 | Canadian Pacific Railway Co | 3.100 | 12/02/51 | 4,125 | ||||||||||||||
| 2,040,000 | e | CSX Corp | 2.600 | 11/01/26 | 1,915 | |||||||||||||
| 4,000,000 | CSX Corp | 3.250 | 06/01/27 | 3,838 | ||||||||||||||
| 3,500,000 | CSX Corp | 3.800 | 03/01/28 | 3,415 | ||||||||||||||
| 16,000,000 | CSX Corp | 4.250 | 03/15/29 | 15,917 | ||||||||||||||
| 1,700,000 | g | Indian Railway Finance Corp Ltd | 3.570 | 01/21/32 | 1,457 | |||||||||||||
| 5,100,000 | Union Pacific Corp | 2.891 | 04/06/36 | 4,216 | ||||||||||||||
| 2,275,000 | Union Pacific Corp | 3.839 | 03/20/60 | 1,899 | ||||||||||||||
| TOTAL TRANSPORTATION | 48,683 | |||||||||||||||||
| UTILITIES - 3.1% | ||||||||||||||||||
| 1,650,000 | AEP Transmission Co LLC | 3.100 | 12/01/26 | 1,593 | ||||||||||||||
| 1,650,000 | AEP Transmission Co LLC | 4.000 | 12/01/46 | 1,458 | ||||||||||||||
| 4,750,000 | AEP Transmission Co LLC | 2.750 | 08/15/51 | 3,329 | ||||||||||||||
| 1,650,000 | g | Aeropuerto Internacional de Tocumen S.A. | 4.000 | 08/11/41 | 1,338 | |||||||||||||
| 3,475,000 | Alabama Power Co | 4.150 | 08/15/44 | 3,065 | ||||||||||||||
| 6,650,000 | Alabama Power Co | 3.450 | 10/01/49 | 5,261 | ||||||||||||||
| 2,750,000 | American Water Capital Corp | 3.000 | 12/01/26 | 2,606 | ||||||||||||||
| 8,425,000 | American Water Capital Corp | 2.800 | 05/01/30 | 7,554 | ||||||||||||||
| 8,500,000 | American Water Capital Corp | 2.300 | 06/01/31 | 7,199 | ||||||||||||||
| 2,375,000 | American Water Capital Corp | 4.000 | 12/01/46 | 2,061 | ||||||||||||||
| 4,500,000 | American Water Capital Corp | 3.750 | 09/01/47 | 3,744 | ||||||||||||||
| 6,038,000 | Appalachian Power Co | 4.450 | 06/01/45 | 5,265 | ||||||||||||||
| 8,475,000 | Atmos Energy Corp | 1.500 | 01/15/31 | 6,779 | ||||||||||||||
| 1,175,000 | Atmos Energy Corp | 4.125 | 10/15/44 | 1,040 | ||||||||||||||
| 328 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 6,500,000 | Baltimore Gas & Electric Co | 3.750 | % | 08/15/47 | $ | 5,545 | |||||||||||
| 3,100,000 | BAT Capital Corp | 4.742 | 03/16/32 | 2,755 | ||||||||||||||
| 4,700,000 | g | Becle SAB de C.V. | 2.500 | 10/14/31 | 3,756 | |||||||||||||
| 5,925,000 | Berkshire Hathaway Energy Co | 3.250 | 04/15/28 | 5,632 | ||||||||||||||
| 6,225,000 | Black Hills Corp | 4.250 | 11/30/23 | 6,244 | ||||||||||||||
| 1,575,000 | Black Hills Corp | 3.150 | 01/15/27 | 1,502 | ||||||||||||||
| 1,075,000 | e | CenterPoint Energy Houston Electric LLC | 3.000 | 03/01/32 | 977 | |||||||||||||
| 3,550,000 | CenterPoint Energy Resources Corp | 6.250 | 02/01/37 | 4,037 | ||||||||||||||
| EUR | 350,000 | CEZ AS. | 0.875 | 12/02/26 | 330 | |||||||||||||
| $ | 4,675,000 | CMS Energy Corp | 3.600 | 11/15/25 | 4,583 | |||||||||||||
| 200,000 | g | Colbun S.A. | 3.150 | 01/19/32 | 161 | |||||||||||||
| 3,500,000 | Commonwealth Edison Co | 5.900 | 03/15/36 | 3,917 | ||||||||||||||
| 8,250,000 | Commonwealth Edison Co | 3.000 | 03/01/50 | 6,252 | ||||||||||||||
| 5,100,000 | Commonwealth Edison Co | 2.750 | 09/01/51 | 3,627 | ||||||||||||||
| 4,375,000 | Consumers Energy Co | 2.650 | 08/15/52 | 3,063 | ||||||||||||||
| 2,650,000 | Consumers Energy Co | 2.500 | 05/01/60 | 1,716 | ||||||||||||||
| EUR | 300,000 | Credit Agricole Assurances S.A. | 1.500 | 10/06/31 | 237 | |||||||||||||
| $ | 3,000,000 | Dominion Energy, Inc | 2.250 | 08/15/31 | 2,466 | |||||||||||||
| 4,600,000 | Dominion Energy, Inc | 3.300 | 04/15/41 | 3,608 | ||||||||||||||
| 4,600,000 | Duke Energy Florida LLC | 3.400 | 10/01/46 | 3,622 | ||||||||||||||
| 297,024 | Duke Energy Florida Project Finance LLC | 1.731 | 09/01/22 | 296 | ||||||||||||||
| 9,825,000 | Duke Energy Indiana LLC | 2.750 | 04/01/50 | 6,956 | ||||||||||||||
| 6,100,000 | Duke Energy Progress LLC | 2.500 | 08/15/50 | 4,166 | ||||||||||||||
| EUR | 300,000 | Electricite de France S.A. | 2.000 | 10/02/30 | 281 | |||||||||||||
| GBP | 200,000 | Electricite de France S.A. | 5.500 | 10/17/41 | 254 | |||||||||||||
| $ | 3,445,000 | g | Empresas Publicas de Medellin ESP | 4.250 | 07/18/29 | 2,686 | ||||||||||||
| 3,000,000 | Enel Chile S.A. | 4.875 | 06/12/28 | 2,865 | ||||||||||||||
| 4,000,000 | g | EnfraGen Energia Sur S.A. | 5.375 | 12/30/30 | 2,700 | |||||||||||||
| 1,560,000 | g | ENN Energy Holdings Ltd | 4.625 | 05/17/27 | 1,574 | |||||||||||||
| 4,300,000 | g | ENN Energy Holdings Ltd | 2.625 | 09/17/30 | 3,662 | |||||||||||||
| 6,900,000 | Entergy Corp | 0.900 | 09/15/25 | 6,211 | ||||||||||||||
| 2,800,000 | g | Equate Petrochemical BV | 2.625 | 04/28/28 | 2,480 | |||||||||||||
| 5,375,000 | Eversource Energy | 1.650 | 08/15/30 | 4,281 | ||||||||||||||
| 6,350,000 | Eversource Energy | 3.450 | 01/15/50 | 4,850 | ||||||||||||||
| 2,050,000 | Exelon Corp | 4.050 | 04/15/30 | 1,967 | ||||||||||||||
| 5,775,000 | Florida Power & Light Co | 3.990 | 03/01/49 | 5,262 | ||||||||||||||
| UGX | 2,000,000,000 | †,g | ICBC Standard Bank plc | 14.250 | 06/26/34 | 467 | ||||||||||||
| $ | 2,900,000 | Indiana Michigan Power Co | 3.750 | 07/01/47 | 2,390 | |||||||||||||
| 4,525,000 | g | Israel Electric Corp Ltd | 4.250 | 08/14/28 | 4,339 | |||||||||||||
| 2,675,000 | g | Israel Electric Corp Ltd | 3.750 | 02/22/32 | 2,393 | |||||||||||||
| 2,850,000 | g | Kallpa Generacion SA | 4.125 | 08/16/27 | 2,565 | |||||||||||||
| 3,675,000 | g | Korea Hydro & Nuclear Power Co Ltd | 3.750 | 07/25/23 | 3,693 | |||||||||||||
| 3,200,000 | g | Korea Southern Power Co Ltd | 0.750 | 01/27/26 | 2,874 | |||||||||||||
| 6,975,000 | MidAmerican Energy Co | 3.650 | 04/15/29 | 6,776 | ||||||||||||||
| 5,400,000 | MidAmerican Energy Co | 3.650 | 08/01/48 | 4,578 | ||||||||||||||
| EUR | 300,000 | g | Mondelez International Holdings Netherlands BV | 1.250 | 09/09/41 | 194 | ||||||||||||
| $ | 7,350,000 | Nevada Power Co | 2.400 | 05/01/30 | 6,403 | |||||||||||||
| 3,335,000 | Nevada Power Co | 5.450 | 05/15/41 | 3,352 | ||||||||||||||
| 15,850,000 | NextEra Energy Capital Holdings, Inc | 2.250 | 06/01/30 | 13,310 | ||||||||||||||
| 24,885,000 | NiSource, Inc | 1.700 | 02/15/31 | 19,453 | ||||||||||||||
| 6,600,000 | g | NRG Energy, Inc | 2.450 | 12/02/27 | 5,667 | |||||||||||||
| 2,750,000 | Ohio Power Co | 2.600 | 04/01/30 | 2,428 | ||||||||||||||
| 6,150,000 | Ohio Power Co | 4.150 | 04/01/48 | 5,368 | ||||||||||||||
| 329 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 4,925,000 | Ohio Power Co | 4.000 | % | 06/01/49 | $ | 4,237 | |||||||||||
| 1,280,000 | Oncor Electric Delivery Co LLC | 5.250 | 09/30/40 | 1,355 | ||||||||||||||
| 3,500,000 | ONE Gas, Inc | 3.610 | 02/01/24 | 3,496 | ||||||||||||||
| 1,900,000 | PacifiCorp | 2.900 | 06/15/52 | 1,385 | ||||||||||||||
| 600,000 | g | Pattern Energy Operations LP | 4.500 | 08/15/28 | 522 | |||||||||||||
| 2,775,000 | PECO Energy Co | 3.000 | 09/15/49 | 2,102 | ||||||||||||||
| 3,700,000 | PECO Energy Co | 2.800 | 06/15/50 | 2,700 | ||||||||||||||
| 3,000,000 | g | Perusahaan Listrik Negara PT | 4.125 | 05/15/27 | 2,882 | |||||||||||||
| 650,000 | g | Perusahaan Listrik Negara PT | 3.875 | 07/17/29 | 586 | |||||||||||||
| 3,000,000 | g | Perusahaan Listrik Negara PT | 3.375 | 02/05/30 | 2,535 | |||||||||||||
| 200,000 | g | Perusahaan Listrik Negara PT | 4.875 | 07/17/49 | 156 | |||||||||||||
| 5,000,000 | g | Perusahaan Perseroan Persero PT Perusahaan Listrik Negara | 4.000 | 06/30/50 | 3,472 | |||||||||||||
| 3,175,000 | †,g | Phosagro OAO Via Phosagro Bond Funding DAC | 2.600 | 09/16/28 | 714 | |||||||||||||
| 750,000 | Potomac Electric Power Co | 7.900 | 12/15/38 | 966 | ||||||||||||||
| 3,300,000 | g | Promigas S.A. ESP | 3.750 | 10/16/29 | 2,661 | |||||||||||||
| 6,800,000 | Public Service Co of Colorado | 1.875 | 06/15/31 | 5,684 | ||||||||||||||
| 2,100,000 | Public Service Co of Colorado | 4.050 | 09/15/49 | 1,893 | ||||||||||||||
| 4,450,000 | Public Service Co of Colorado | 3.200 | 03/01/50 | 3,493 | ||||||||||||||
| 6,970,000 | Public Service Electric & Gas Co | 3.150 | 01/01/50 | 5,412 | ||||||||||||||
| 3,500,000 | g | Saka Energi Indonesia PT | 4.450 | 05/05/24 | 3,207 | |||||||||||||
| 20,000,000 | Southern Co | 4.000 | 01/15/51 | 17,930 | ||||||||||||||
| EUR | 300,000 | Southern Co | 1.875 | 09/15/81 | 214 | |||||||||||||
| $ | 8,475,000 | Southern Co Gas Capital Corp | 3.875 | 11/15/25 | 8,317 | |||||||||||||
| 2,125,000 | Southern Co Gas Capital Corp | 4.400 | 06/01/43 | 1,845 | ||||||||||||||
| 2,440,000 | Southwestern Public Service Co | 3.400 | 08/15/46 | 1,936 | ||||||||||||||
| 4,200,000 | g | Sweihan PV Power Co PJSC | 3.625 | 01/31/49 | 3,474 | |||||||||||||
| 350,000 | g | Tengizchevroil Finance Co International Ltd | 2.625 | 08/15/25 | 297 | |||||||||||||
| 3,250,000 | Virginia Electric & Power Co | 2.950 | 11/15/26 | 3,096 | ||||||||||||||
| 3,250,000 | Virginia Electric & Power Co | 3.500 | 03/15/27 | 3,173 | ||||||||||||||
| 8,879,000 | Virginia Electric & Power Co | 3.800 | 04/01/28 | 8,679 | ||||||||||||||
| 4,125,000 | Wisconsin Power & Light Co | 4.100 | 10/15/44 | 3,465 | ||||||||||||||
| 2,890,000 | Xcel Energy, Inc | 4.800 | 09/15/41 | 2,723 | ||||||||||||||
| TOTAL UTILITIES | 357,670 | |||||||||||||||||
| TOTAL CORPORATE BONDS | 4,173,936 | |||||||||||||||||
| (Cost $4,752,021) | ||||||||||||||||||
| GOVERNMENT BONDS - 42.3% | ||||||||||||||||||
| AGENCY SECURITIES - 0.4% | ||||||||||||||||||
| 2,500,000 | Amber Circle Funding Ltd | 3.250 | 12/04/22 | 2,500 | ||||||||||||||
| 3,032,000 | Canal Barge Co, Inc | 4.500 | 11/12/34 | 3,109 | ||||||||||||||
| 269 | Export-Import Bank of the United States | 1.822 | 05/03/25 | 0 | ^ | |||||||||||||
| 9,320,000 | Lutheran Medical Center | 1.982 | 02/20/30 | 8,591 | ||||||||||||||
| 25,747,000 | Private Export Funding Corp (PEFCO) | 2.050 | 11/15/22 | 25,695 | ||||||||||||||
| 8,225,000 | PEFCO | 1.750 | 11/15/24 | 7,937 | ||||||||||||||
| 3,000,000 | g | Reliance Industries Ltd | 3.667 | 11/30/27 | 2,904 | |||||||||||||
| TOTAL AGENCY SECURITIES | 50,736 | |||||||||||||||||
| FOREIGN GOVERNMENT BONDS - 4.5% | ||||||||||||||||||
| 4,000,000 | g | Abu Dhabi Government International Bond | 3.125 | 05/03/26 | 3,926 | |||||||||||||
| 2,000,000 | g | Abu Dhabi Government International Bond | 2.500 | 09/30/29 | 1,840 | |||||||||||||
| 1,125,000 | g | Abu Dhabi Government International Bond | 3.125 | 09/30/49 | 873 | |||||||||||||
| 330 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 750,000 | g | Africa Finance Corp | 2.875 | % | 04/28/28 | $ | 647 | ||||||||||
| 2,325,000 | g | African Export-Import Bank | 2.634 | 05/17/26 | 2,052 | |||||||||||||
| 3,925,000 | g | Angolan Government International Bond | 8.750 | 04/14/32 | 3,132 | |||||||||||||
| 3,325,000 | g | Arab Petroleum Investments Corp | 4.125 | 09/18/23 | 3,342 | |||||||||||||
| AUD | 1,425,000 | Australia Government Bond | 4.750 | 04/21/27 | 1,048 | |||||||||||||
| 400,000 | Australia Government Bond | 2.250 | 05/21/28 | 260 | ||||||||||||||
| 3,550,000 | Australia Government Bond | 1.250 | 05/21/32 | 1,963 | ||||||||||||||
| 1,960,000 | † | Australia Government Bond | 1.750 | 06/21/51 | 859 | |||||||||||||
| $ | 1,500,000 | g | Banque Ouest Africaine de Developpement | 5.000 | 07/27/27 | 1,363 | ||||||||||||
| 8,500,000 | g | Banque Ouest Africaine de Developpement | 4.700 | 10/22/31 | 7,068 | |||||||||||||
| EUR | 3,650,000 | g | Banque Ouest Africaine de Developpement | 2.750 | 01/22/33 | 3,011 | ||||||||||||
| 850,000 | †,g | Benin Government International Bond | 4.950 | 01/22/35 | 579 | |||||||||||||
| $ | 200,000 | g | Bermuda Government International Bond | 4.750 | 02/15/29 | 200 | ||||||||||||
| 12,400,000 | g | BNG Bank NV | 3.000 | 09/20/23 | 12,414 | |||||||||||||
| 8,000,000 | g | BNG Bank NV | 0.875 | 05/18/26 | 7,316 | |||||||||||||
| CLP | 240,000,000 | Bonos de la Tesoreria de la Republica en pesos | 2.500 | 03/01/25 | 238 | |||||||||||||
| $ | 2,340,000 | g | Brazil Minas SPE via State of Minas Gerais | 5.333 | 02/15/28 | 2,287 | ||||||||||||
| BRL | 3,000,000 | Brazil Notas do Tesouro Nacional Serie F | 10.000 | 01/01/27 | 493 | |||||||||||||
| $ | 2,900,000 | Brazilian Government International Bond | 4.625 | 01/13/28 | 2,707 | |||||||||||||
| 750,000 | Brazilian Government International Bond | 3.875 | 06/12/30 | 628 | ||||||||||||||
| 2,850,000 | Brazilian Government International Bond | 5.625 | 02/21/47 | 2,193 | ||||||||||||||
| EUR | 135,000 | Bundesrepublik Deutschland | 1.250 | 08/15/48 | 131 | |||||||||||||
| 790,000 | Bundesrepublik Deutschland Bundesanleihe | 1.000 | 08/15/24 | 833 | ||||||||||||||
| 2,575,000 | Bundesrepublik Deutschland Bundesanleihe | 0.500 | 08/15/27 | 2,624 | ||||||||||||||
| 250,000 | Bundesrepublik Deutschland Bundesanleihe | 4.250 | 07/04/39 | 363 | ||||||||||||||
| 1,075,000 | † | Bundesrepublik Deutschland Bundesanleihe | 0.000 | 08/15/52 | 694 | |||||||||||||
| $ | 7,000,000 | g | Caisse d’Amortissement de la Dette Sociale | 1.125 | 11/29/24 | 6,671 | ||||||||||||
| CAD | 1,400,000 | g | Canada Housing Trust No | 1.100 | 12/15/26 | 984 | ||||||||||||
| 875,000 | Canadian Government International Bond | 2.000 | 09/01/23 | 671 | ||||||||||||||
| 1,475,000 | Canadian Government International Bond | 2.000 | 06/01/28 | 1,077 | ||||||||||||||
| 1,000,000 | Canadian Government International Bond | 5.000 | 06/01/37 | 936 | ||||||||||||||
| 950,000 | Canadian Government International Bond | 2.000 | 12/01/51 | 574 | ||||||||||||||
| $ | 3,325,000 | Chile Government International Bond | 2.750 | 01/31/27 | 3,105 | |||||||||||||
| 3,050,000 | Chile Government International Bond | 2.550 | 01/27/32 | 2,589 | ||||||||||||||
| EUR | 475,000 | Chile Government International Bond | 1.250 | 01/22/51 | 273 | |||||||||||||
| CNY | 17,000,000 | China Government Bond | 1.990 | 04/09/25 | 2,506 | |||||||||||||
| 24,000,000 | China Government International Bond | 2.880 | 11/05/23 | 3,620 | ||||||||||||||
| 9,700,000 | China Government International Bond | 2.940 | 10/17/24 | 1,468 | ||||||||||||||
| 47,400,000 | China Government International Bond | 3.120 | 12/05/26 | 7,234 | ||||||||||||||
| 11,250,000 | China Government International Bond | 3.270 | 11/19/30 | 1,730 | ||||||||||||||
| 18,900,000 | China Government International Bond | 3.860 | 07/22/49 | 3,061 | ||||||||||||||
| 10,000,000 | China Government International Bond | 3.390 | 03/16/50 | 1,495 | ||||||||||||||
| 4,700,000 | China Government International Bond | 3.810 | 09/14/50 | 758 | ||||||||||||||
| $ | 2,000,000 | g | China Government International Bond | 2.250 | 10/21/50 | 1,463 | ||||||||||||
| CNY | 9,400,000 | China Government International Bond | 3.720 | 04/12/51 | 1,498 | |||||||||||||
| NOK | 7,000,000 | City of Oslo Norway | 2.050 | 10/31/24 | 687 | |||||||||||||
| $ | 6,675,000 | Colombia Government International Bond | 3.250 | 04/22/32 | 4,823 | |||||||||||||
| 1,700,000 | Colombia Government International Bond | 5.000 | 06/15/45 | 1,136 | ||||||||||||||
| 4,100,000 | g | Costa Rica Government International Bond | 5.625 | 04/30/43 | 3,066 | |||||||||||||
| 5,000,000 | g | Development Bank of Japan, Inc | 0.500 | 03/04/24 | 4,780 | |||||||||||||
| DOP | 8,000,000 | g | Dominican Republic Government International Bond | 9.750 | 06/05/26 | 142 | ||||||||||||
| 331 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 3,500,000 | g | Dominican Republic Government International Bond | 4.875 | % | 09/23/32 | $ | 2,693 | ||||||||
| 2,950,000 | g | Dominican Republic Government International Bond | 6.500 | 02/15/48 | 2,227 | |||||||||||
| 1,295,000 | g | Dominican Republic International Bond | 5.500 | 02/22/29 | 1,126 | |||||||||||
| 24,960 | g,j | Ecuador Government International Bond | 0.000 | 07/31/30 | 10 | |||||||||||
| 141,600 | g | Ecuador Government International Bond (Step Bond) | 5.000 | 07/31/30 | 91 | |||||||||||
| 99,120 | g | Ecuador Government International Bond (Step Bond) | 1.000 | 07/31/35 | 48 | |||||||||||
| 425,000 | g | Egypt Government International Bond | 5.750 | 05/29/24 | 379 | |||||||||||
| EGP | 19,025,000 | Egypt Government International Bond | 15.900 | 07/02/24 | 1,026 | |||||||||||
| $ | 1,500,000 | g | Egypt Government International Bond | 5.800 | 09/30/27 | 1,057 | ||||||||||
| 725,000 | g | Egypt Government International Bond | 7.600 | 03/01/29 | 527 | |||||||||||
| EUR | 1,100,000 | g | Egypt Government International Bond | 5.625 | 04/16/30 | 713 | ||||||||||
| 700,000 | g | Egypt Government International Bond | 6.375 | 04/11/31 | 459 | |||||||||||
| $ | 1,100,000 | g | Egypt Government International Bond | 7.053 | 01/15/32 | 713 | ||||||||||
| 2,700,000 | g | Egypt Government International Bond | 8.500 | 01/31/47 | 1,594 | |||||||||||
| 650,000 | g | El Salvador Government International Bond | 6.375 | 01/18/27 | 217 | |||||||||||
| 1,445,000 | g | El Salvador Government International Bond | 7.125 | 01/20/50 | 448 | |||||||||||
| 2,000,000 | Emirate of Dubai Government International Bonds | 3.900 | 09/09/50 | 1,441 | ||||||||||||
| 627,781 | † | European Bank for Reconstruction & Development | 10.000 | 02/28/23 | 545 | |||||||||||
| 3,500,000 | European Investment Bank | 4.875 | 02/15/36 | 4,085 | ||||||||||||
| 2,000,000 | g | Export-Import Bank of India | 3.875 | 02/01/28 | 1,915 | |||||||||||
| 3,975,000 | g | Export-Import Bank of India | 2.250 | 01/13/31 | 3,129 | |||||||||||
| 2,800,000 | Export-Import Bank of Korea | 0.750 | 09/21/25 | 2,562 | ||||||||||||
| 3,350,000 | Export-Import Bank of Korea | 1.250 | 09/21/30 | 2,760 | ||||||||||||
| EUR | 3,000,000 | French Republic Government Bond OAT | 0.500 | 05/25/25 | 3,095 | |||||||||||
| 1,325,000 | French Republic Government Bond OAT | 0.750 | 11/25/28 | 1,321 | ||||||||||||
| 1,175,000 | g | French Republic Government Bond OAT | 0.500 | 05/25/40 | 897 | |||||||||||
| 860,000 | French Republic Government Bond OAT | 0.750 | 05/25/52 | 575 | ||||||||||||
| $ | 2,325,000 | g | Ghana Government International Bond | 8.125 | 03/26/32 | 1,116 | ||||||||||
| 1,000,000 | g | Ghana Government International Bond | 8.627 | 06/16/49 | 468 | |||||||||||
| 1,800,000 | e,g | Guatemala Government International Bond | 4.500 | 05/03/26 | 1,729 | |||||||||||
| 450,000 | g | Guatemala Government International Bond | 4.375 | 06/05/27 | 420 | |||||||||||
| 600,000 | g | Guatemala Government International Bond | 6.125 | 06/01/50 | 503 | |||||||||||
| EUR | 1,250,000 | g | Hellenic Republic Government International Bond | 1.500 | 06/18/30 | 1,123 | ||||||||||
| 725,000 | g | Hellenic Republic Government International Bond | 0.750 | 06/18/31 | 594 | |||||||||||
| $ | 1,775,000 | g | Honduras Government International Bond | 6.250 | 01/19/27 | 1,387 | ||||||||||
| HUF | 336,050,000 | Hungary Government International Bond | 3.000 | 06/26/24 | 804 | |||||||||||
| $ | 1,725,000 | g | Hungary Government International Bond | 5.250 | 06/16/29 | 1,721 | ||||||||||
| 1,150,000 | g | Hungary Government International Bond | 2.125 | 09/22/31 | 889 | |||||||||||
| CAD | 1,475,000 | Hydro-Quebec | 5.000 | 02/15/45 | 1,271 | |||||||||||
| $ | 1,350,000 | Indonesia Government International Bond | 3.550 | 03/31/32 | 1,228 | |||||||||||
| 11,675,000 | g | Indonesia Government International Bond | 4.625 | 04/15/43 | 10,556 | |||||||||||
| IDR | 7,750,000,000 | Indonesia Treasury Bond | 8.125 | 05/15/24 | 548 | |||||||||||
| 28,000,000,000 | Indonesia Treasury Bond | 7.000 | 09/15/30 | 1,863 | ||||||||||||
| 10,000,000,000 | Indonesia Treasury Bond | 6.375 | 04/15/32 | 630 | ||||||||||||
| AUD | 500,000 | Inter-American Development Bank | 4.750 | 08/27/24 | 353 | |||||||||||
| 900,000 | Inter-American Development Bank | 2.750 | 10/30/25 | 601 | ||||||||||||
| CAD | 1,300,000 | International Bank for Reconstruction & Development | 1.900 | 01/16/25 | 974 | |||||||||||
| GBP | 500,000 | International Finance Corp | 0.250 | 12/15/25 | 565 | |||||||||||
| $ | 1,537,500 | g | Iraq Government International Bond | 5.800 | 01/15/28 | 1,380 | ||||||||||
| 332 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 3,100,000 | Israel Government International Bond | 3.250 | % | 01/17/28 | $ | 3,026 | |||||||||
| ILS | 3,100,000 | Israel Government International Bond | 5.500 | 01/31/42 | 1,182 | |||||||||||
| 3,200,000 | Israel Government International Bond | 3.750 | 03/31/47 | 972 | ||||||||||||
| $ | 1,875,000 | Israel Government International Bond | 4.125 | 01/17/48 | 1,731 | |||||||||||
| EUR | 3,345,000 | Italy Buoni Poliennali Del Tesoro | 1.250 | 12/01/26 | 3,358 | |||||||||||
| 425,000 | †,g | Italy Buoni Poliennali Del Tesoro | 1.700 | 09/01/51 | 298 | |||||||||||
| 1,000,000 | g | Ivory Coast Government International Bond | 5.875 | 10/17/31 | 817 | |||||||||||
| 100,000 | g | Ivory Coast Government International Bond | 4.875 | 01/30/32 | 75 | |||||||||||
| $ | 1,441,973 | g | Ivory Coast Government International Bond (Step Bond) | 5.750 | 12/31/32 | 1,244 | ||||||||||
| 2,850,000 | Jamaica Government International Bond | 7.875 | 07/28/45 | 2,988 | ||||||||||||
| 6,000,000 | Japan Bank for International Cooperation | 2.375 | 04/20/26 | 5,796 | ||||||||||||
| 6,650,000 | g | Japan Finance Organization for Municipalities | 3.375 | 09/27/23 | 6,662 | |||||||||||
| 2,500,000 | g | Japan Finance Organization for Municipalities | 1.000 | 05/21/25 | 2,338 | |||||||||||
| JPY | 140,000,000 | Japan Finance Organization for Municipalities | 0.020 | 03/13/26 | 1,031 | |||||||||||
| 498,000,000 | Japan Government Five Year Bond | 0.005 | 09/20/26 | 3,673 | ||||||||||||
| 327,000,000 | Japan Government Ten Year Bond | 0.100 | 09/20/26 | 2,422 | ||||||||||||
| 162,000,000 | Japan Government Ten Year Bond | 0.100 | 12/20/29 | 1,185 | ||||||||||||
| 175,000,000 | Japan Government Thirty Year Bond | 2.400 | 11/20/31 | 1,545 | ||||||||||||
| 350,000,000 | Japan Government Thirty Year Bond | 2.300 | 05/20/32 | 3,085 | ||||||||||||
| 418,000,000 | Japan Government Thirty Year Bond | 2.500 | 09/20/34 | 3,827 | ||||||||||||
| 225,000,000 | Japan Government Thirty Year Bond | 0.500 | 09/20/46 | 1,463 | ||||||||||||
| 105,000,000 | Japan Government Thirty Year Bond | 0.600 | 09/20/50 | 667 | ||||||||||||
| 259,500,000 | Japan Government Thirty Year Bond | 0.700 | 09/20/51 | 1,681 | ||||||||||||
| 93,000,000 | Japan Government Twenty Year Bond | 0.600 | 12/20/36 | 687 | ||||||||||||
| 219,000,000 | Japan Government Twenty Year Bond | 0.500 | 12/20/38 | 1,559 | ||||||||||||
| 153,000,000 | Japan Government Twenty Year Bond | 0.300 | 06/20/39 | 1,046 | ||||||||||||
| $ | 2,500,000 | g | Jordan Government International Bond | 4.950 | 07/07/25 | 2,257 | ||||||||||
| 500,000 | g | Jordan Government International Bond | 7.750 | 01/15/28 | 465 | |||||||||||
| 1,025,000 | g | Jordan Government International Bond | 5.850 | 07/07/30 | 811 | |||||||||||
| 3,000,000 | g | Kazakhstan Government International Bond | 4.875 | 10/14/44 | 2,457 | |||||||||||
| 1,525,000 | g | Kenya Government International Bond | 6.875 | 06/24/24 | 1,274 | |||||||||||
| 2,350,000 | g | Kenya Government International Bond | 7.000 | 05/22/27 | 1,752 | |||||||||||
| EUR | 2,900,000 | g | Kingdom of Belgium Government Bond | 0.350 | 06/22/32 | 2,583 | ||||||||||
| 1,875,000 | g | Kingdom of Belgium Government International Bond | 0.000 | 10/22/27 | 1,827 | |||||||||||
| $ | 2,600,000 | g | Kommunalbanken AS. | 2.750 | 02/05/24 | 2,586 | ||||||||||
| 3,000,000 | g | Kommunalbanken AS. | 1.125 | 06/14/30 | 2,547 | |||||||||||
| 2,833,000 | e,g | Kommuninvest I Sverige AB | 2.625 | 09/15/22 | 2,834 | |||||||||||
| 2,000,000 | g | Kommuninvest I Sverige AB | 0.500 | 07/05/23 | 1,951 | |||||||||||
| 800,000 | g | Kommuninvest I Sverige AB | 2.875 | 07/03/24 | 795 | |||||||||||
| 6,975,000 | g | Korea Electric Power Corp | 1.125 | 06/15/25 | 6,458 | |||||||||||
| 5,775,000 | g | Korea Housing Finance Corp | 3.000 | 10/31/22 | 5,774 | |||||||||||
| KRW | 1,270,000,000 | Korea Treasury Bond | 1.500 | 03/10/25 | 926 | |||||||||||
| 1,800,000,000 | Korea Treasury Bond | 1.500 | 12/10/26 | 1,264 | ||||||||||||
| 2,400,000,000 | Korea Treasury Bond | 2.000 | 06/10/31 | 1,616 | ||||||||||||
| 1,225,000,000 | Korea Treasury Bond | 2.375 | 12/10/31 | 846 | ||||||||||||
| 2,380,000,000 | Korea Treasury Bond | 2.375 | 09/10/38 | 1,561 | ||||||||||||
| $ | 1,750,000 | †,q | Lebanon Government International Bond | 6.750 | 11/29/27 | 105 | ||||||||||
| MYR | 2,160,000 | Malaysia Government Bond | 3.757 | 05/22/40 | 427 | |||||||||||
| 3,100,000 | Malaysia Government International Bond | 4.893 | 06/08/38 | 708 | ||||||||||||
| MXN | 23,500,000 | Mexican Bonos | 5.750 | 03/05/26 | 1,039 | |||||||||||
| 13,700,000 | Mexican Bonos | 8.500 | 11/18/38 | 646 | ||||||||||||
| 333 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 3,375,000 | e | Mexico Government International Bond | 3.250 | % | 04/16/30 | $ | 2,970 | ||||||||
| 6,051,000 | Mexico Government International Bond | 6.050 | 01/11/40 | 5,944 | ||||||||||||
| 6,650,000 | Mexico Government International Bond | 4.280 | 08/14/41 | 5,256 | ||||||||||||
| 3,500,000 | Mexico Government International Bond | 4.600 | 02/10/48 | 2,767 | ||||||||||||
| 10,075,000 | Mexico Government International Bond | 4.400 | 02/12/52 | 7,572 | ||||||||||||
| 825,000 | e,g | Mongolia Government International Bond | 4.450 | 07/07/31 | 629 | |||||||||||
| EUR | 900,000 | g | Morocco Government International Bond | 1.500 | 11/27/31 | 623 | ||||||||||
| $ | 5,750,000 | g | Morocco Government International Bond | 5.500 | 12/11/42 | 4,168 | ||||||||||
| 1,675,000 | g | Namibia Government International Bond | 5.250 | 10/29/25 | 1,487 | |||||||||||
| EUR | 400,000 | g | Netherlands Government International Bond | 2.750 | 01/15/47 | 488 | ||||||||||
| 1,000,000 | †,g | Netherlands Government International Bond | 0.000 | 01/15/52 | 603 | |||||||||||
| AUD | 500,000 | New South Wales Treasury Corp | 4.000 | 05/20/26 | 350 | |||||||||||
| 2,690,000 | New South Wales Treasury Corp | 3.000 | 04/20/29 | 1,754 | ||||||||||||
| NZD | 835,000 | New Zealand Government Bond | 0.500 | 05/15/24 | 494 | |||||||||||
| 735,000 | New Zealand Government Bond | 2.000 | 05/15/32 | 391 | ||||||||||||
| 625,000 | New Zealand Government International Bond | 4.500 | 04/15/27 | 404 | ||||||||||||
| $ | 775,000 | g | Nigeria Government International Bond | 6.500 | 11/28/27 | 590 | ||||||||||
| 1,825,000 | g,k | Nigeria Government International Bond | 8.375 | 03/24/29 | 1,385 | |||||||||||
| NOK | 17,250,000 | g | Norway Government International Bond | 2.000 | 04/26/28 | 1,656 | ||||||||||
| $ | 525,000 | g | Oman Government International Bond | 6.750 | 10/28/27 | 536 | ||||||||||
| 1,500,000 | g | Oman Government International Bond | 6.000 | 08/01/29 | 1,445 | |||||||||||
| 3,000,000 | g | Oman Government International Bond | 6.250 | 01/25/31 | 2,898 | |||||||||||
| 500,000 | g | Oman Sovereign Sukuk Co | 4.875 | 06/15/30 | 485 | |||||||||||
| 21,300,000 | g | OMERS Finance Trust | 2.500 | 05/02/24 | 21,038 | |||||||||||
| 15,000,000 | g | Ontario Teachers’ Finance Trust | 1.625 | 09/12/24 | 14,507 | |||||||||||
| 2,750,000 | e,g | Pakistan Global Sukuk Programme Co Ltd | 7.950 | 01/31/29 | 2,380 | |||||||||||
| 500,000 | g | Pakistan Government International Bond | 6.000 | 04/08/26 | 337 | |||||||||||
| 6,000,000 | Panama Bonos del Tesoro | 3.362 | 06/30/31 | 5,274 | ||||||||||||
| 4,000,000 | Panama Government International Bond | 4.300 | 04/29/53 | 3,137 | ||||||||||||
| 10,150,000 | Panama Notas del Tesoro | 3.750 | 04/17/26 | 9,846 | ||||||||||||
| 925,000 | g | Paraguay Government International Bond | 5.400 | 03/30/50 | 717 | |||||||||||
| 2,560,000 | g | Perusahaan Penerbit SBSN Indonesia III | 4.700 | 06/06/32 | 2,516 | |||||||||||
| 3,000,000 | Peruvian Government International Bond | 1.862 | 12/01/32 | 2,274 | ||||||||||||
| 1,970,000 | Peruvian Government International Bond | 3.000 | 01/15/34 | 1,616 | ||||||||||||
| PEN | 3,515,000 | g | Peruvian Government International Bond | 5.400 | 08/12/34 | 739 | ||||||||||
| PHP | 17,000,000 | Philippine Government International Bond | 6.250 | 01/14/36 | 302 | |||||||||||
| $ | 2,645,000 | k | Philippine Government International Bond | 4.200 | 03/29/47 | 2,306 | ||||||||||
| CAD | 875,000 | Province of Ontario Canada | 2.150 | 06/02/31 | 587 | |||||||||||
| 650,000 | Province of Quebec Canada | 2.750 | 09/01/27 | 486 | ||||||||||||
| $ | 6,000,000 | Province of Quebec Canada | 7.500 | 09/15/29 | 7,469 | |||||||||||
| 2,000,000 | g | Provincia de Mendoza Argentina (Step Bond) | 4.250 | 03/19/29 | 1,281 | |||||||||||
| 2,050,000 | g | Qatar Government International Bond | 3.750 | 04/16/30 | 2,036 | |||||||||||
| 5,900,000 | g | Qatar Government International Bond | 4.400 | 04/16/50 | 5,632 | |||||||||||
| EUR | 425,000 | g | Republic of Cameroon International Bond | 5.950 | 07/07/32 | 329 | ||||||||||
| $ | 500,000 | g | Republic of Guatemala | 4.650 | 10/07/41 | 363 | ||||||||||
| 7,000,000 | Republic of Italy Government International Bond | 4.000 | 10/17/49 | 5,789 | ||||||||||||
| 2,000,000 | g | Republic of Paraguay | 6.100 | 08/11/44 | 1,738 | |||||||||||
| PLN | 3,300,000 | Republic of Poland Government International Bond | 2.500 | 04/25/24 | 675 | |||||||||||
| $ | 200,000 | k | Republic of South Africa Government International Bond | 5.875 | 04/20/32 | 171 | ||||||||||
| ZAR | 18,725,000 | Republic of South Africa Government International Bond | 8.875 | 02/28/35 | 967 | |||||||||||
| $ | 350,000 | Republic of South Africa Government International Bond | 7.300 | 04/20/52 | 279 | |||||||||||
| 334 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 1,400,000 | g | Republic of Uzbekistan Bond | 3.700 | % | 11/25/30 | $ | 1,012 | ||||||||
| 2,150,000 | g | Republic of Uzbekistan International Bond | 4.750 | 02/20/24 | 2,050 | |||||||||||
| UZS | 5,708,925,000 | g | Republic of Uzbekistan International Bond | 14.000 | 07/19/24 | 503 | ||||||||||
| RON | 7,075,000 | Romania Government Bond | 4.150 | 01/26/28 | 1,195 | |||||||||||
| $ | 3,000,000 | e,g | Romanian Government International Bond | 3.000 | 02/14/31 | 2,311 | ||||||||||
| EUR | 600,000 | g | Romanian Government International Bond | 2.000 | 01/28/32 | 427 | ||||||||||
| 500,000 | g | Romanian Government International Bond | 2.000 | 04/14/33 | 339 | |||||||||||
| $ | 4,600,000 | g | Romanian Government International Bond | 4.000 | 02/14/51 | 2,993 | ||||||||||
| RUB | 72,000,000 | † | Russian Federal Bond-OFZ | 4.500 | 07/16/25 | 111 | ||||||||||
| $ | 5,000,000 | †,g | Russian Foreign Bond - Eurobond | 4.375 | 03/21/29 | 1,300 | ||||||||||
| 3,200,000 | †,g | Russian Foreign Bond - Eurobond | 5.100 | 03/28/35 | 800 | |||||||||||
| 4,850,000 | g | Rwanda International Government Bond | 5.500 | 08/09/31 | 3,786 | |||||||||||
| 4,500,000 | g | Saudi Government International Bond | 3.250 | 10/26/26 | 4,398 | |||||||||||
| 6,775,000 | g | Saudi Government International Bond | 4.500 | 04/17/30 | 6,919 | |||||||||||
| 6,150,000 | g | Saudi Government International Bond | 3.750 | 01/21/55 | 5,040 | |||||||||||
| EUR | 1,000,000 | g | Senegal Government International Bond | 4.750 | 03/13/28 | 848 | ||||||||||
| 425,000 | g | Senegal Government International Bond | 5.375 | 06/08/37 | 278 | |||||||||||
| $ | 1,000,000 | g | Senegal Government International Bond | 6.750 | 03/13/48 | 634 | ||||||||||
| EUR | 1,250,000 | g | Serbia Government International Bond | 1.500 | 06/26/29 | 947 | ||||||||||
| 575,000 | g | Serbia Government International Bond | 2.050 | 09/23/36 | 354 | |||||||||||
| $ | 5,450,000 | g | Serbia International Bond | 2.125 | 12/01/30 | 4,000 | ||||||||||
| RSD | 96,000,000 | Serbia Treasury Bonds | 5.875 | 02/08/28 | 801 | |||||||||||
| 31,700,000 | Serbia Treasury Bonds | 4.500 | 08/20/32 | 224 | ||||||||||||
| SGD | 2,030,000 | Singapore Government Bond | 1.625 | 07/01/31 | 1,310 | |||||||||||
| $ | 4,000,000 | South Africa Government International Bond | 5.875 | 09/16/25 | 3,958 | |||||||||||
| ZAR | 15,100,000 | South Africa Government International Bond | 8.750 | 01/31/44 | 721 | |||||||||||
| $ | 2,800,000 | South Africa Government International Bond | 5.375 | 07/24/44 | 1,901 | |||||||||||
| 1,000,000 | g | Southern Gas Corridor CJSC | 6.875 | 03/24/26 | 982 | |||||||||||
| EUR | 2,550,000 | g | Spain Government International Bond | 2.750 | 10/31/24 | 2,775 | ||||||||||
| 845,000 | g | Spain Government International Bond | 1.400 | 07/30/28 | 861 | |||||||||||
| 1,475,000 | g | Spain Government International Bond | 0.600 | 10/31/29 | 1,395 | |||||||||||
| 625,000 | g | Spain Government International Bond | 0.100 | 04/30/31 | 541 | |||||||||||
| 2,350,000 | g | Spain Government International Bond | 1.200 | 10/31/40 | 1,863 | |||||||||||
| $ | 3,100,000 | State of Israel | 3.375 | 01/15/50 | 2,503 | |||||||||||
| 6,590,000 | Svensk Exportkredit AB | 1.750 | 12/12/23 | 6,470 | ||||||||||||
| THB | 24,600,000 | Thailand Government International Bond | 2.875 | 12/17/28 | 705 | |||||||||||
| 24,400,000 | Thailand Government International Bond | 3.300 | 06/17/38 | 664 | ||||||||||||
| $ | 2,500,000 | g | Turkiye Ihracat Kredi Bankasi AS. | 5.750 | 07/06/26 | 2,086 | ||||||||||
| EUR | 1,000,000 | g | Ukraine Government International Bond | 6.750 | 06/20/26 | 265 | ||||||||||
| 2,025,000 | g | Ukraine Government International Bond | 4.375 | 01/27/30 | 509 | |||||||||||
| GBP | 2,850,000 | United Kingdom Gilt | 1.625 | 10/22/28 | 3,403 | |||||||||||
| 2,450,000 | United Kingdom Gilt | 1.750 | 09/07/37 | 2,671 | ||||||||||||
| 275,000 | United Kingdom Gilt | 1.250 | 10/22/41 | 267 | ||||||||||||
| 575,000 | United Kingdom Gilt | 1.500 | 07/22/47 | 554 | ||||||||||||
| 2,525,000 | United Kingdom Gilt | 0.625 | 10/22/50 | 1,889 | ||||||||||||
| UYU | 21,800,000 | g | Uruguay Government International Bond | 8.500 | 03/15/28 | 498 | ||||||||||
| $ | 5,280,000 | Uruguay Government International Bond | 4.375 | 01/23/31 | 5,334 | |||||||||||
| UYU | 20,300,000 | Uruguay Government International Bond | 8.250 | 05/21/31 | 441 | |||||||||||
| $ | 850,000 | Uruguay Government International Bond | 4.125 | 11/20/45 | 781 | |||||||||||
| 1,400,000 | Uruguay Government International Bond | 5.100 | 06/18/50 | 1,406 | ||||||||||||
| TOTAL FOREIGN GOVERNMENT BONDS | 515,383 | |||||||||||||||
| 335 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| MORTGAGE BACKED - 19.7% | ||||||||||||||||||
| $ | 13,216,056 | g,i | Connecticut Avenue Securities Trust | 2.826 | % | 12/25/41 | $ | 11,906 | ||||||||||
| 6,000,000 | g,i | Connecticut Avenue Securities Trust | 5.426 | 01/25/42 | 5,260 | |||||||||||||
| 16,120,000 | g,i | Connecticut Avenue Securities Trust | 4.026 | 03/25/42 | 15,074 | |||||||||||||
| 28,500,000 | g,i | Connecticut Avenue Securities Trust | 4.798 | 05/25/42 | 27,717 | |||||||||||||
| 14,050,000 | g,i | Fannie CAS | 5.576 | 06/25/42 | 14,103 | |||||||||||||
| 4,395,655 | i | Federal Home Loan Mortgage Corp (FHLMC) | LIBOR 1 M + 5.920% | 4.596 | 03/15/44 | 546 | ||||||||||||
| 15,301,489 | FHLMC | 4.000 | 10/01/47 | 15,378 | ||||||||||||||
| 12,193,568 | FHLMC | 4.000 | 06/01/48 | 12,223 | ||||||||||||||
| 9,279,840 | i | FHLMC | LIBOR 1 M + 9.920% | 7.802 | 06/15/48 | 9,505 | ||||||||||||
| 7,936,491 | FHLMC | 4.000 | 07/01/48 | 7,954 | ||||||||||||||
| 7,017,644 | i | FHLMC | LIBOR 1 M + 9.840% | 7.722 | 10/15/48 | 7,000 | ||||||||||||
| 20,671,425 | FHLMC | 3.000 | 11/01/49 | 19,471 | ||||||||||||||
| 18,243,795 | FHLMC | 2.000 | 09/25/50 | 2,151 | ||||||||||||||
| 38,568,336 | FHLMC | 2.500 | 02/25/51 | 6,213 | ||||||||||||||
| 37,048,674 | FHLMC | 3.000 | 11/01/51 | 35,040 | ||||||||||||||
| 5,345,946 | FHLMC | 3.000 | 11/01/51 | 5,026 | ||||||||||||||
| 4,719,736 | FHLMC | 3.000 | 11/01/51 | 4,462 | ||||||||||||||
| 3,381,660 | FHLMC | 3.000 | 11/01/51 | 3,216 | ||||||||||||||
| 43,480,754 | FHLMC | 2.000 | 02/01/52 | 37,904 | ||||||||||||||
| 43,708,122 | FHLMC | 2.500 | 02/01/52 | 39,484 | ||||||||||||||
| 36,371,820 | FHLMC | 2.500 | 03/01/52 | 32,868 | ||||||||||||||
| 47,330,550 | FHLMC | 2.500 | 03/01/52 | 42,749 | ||||||||||||||
| 5,252,013 | FHLMC | 3.000 | 04/01/52 | 4,909 | ||||||||||||||
| 523 | Federal Home Loan Mortgage Corp Gold (FGLMC) | 7.000 | 05/01/23 | 1 | ||||||||||||||
| 6,612 | FGLMC | 8.000 | 01/01/31 | 7 | ||||||||||||||
| 4,354 | FGLMC | 7.000 | 01/01/32 | 4 | ||||||||||||||
| 263,462 | FGLMC | 4.500 | 07/01/33 | 271 | ||||||||||||||
| 1,915,343 | FGLMC | 7.000 | 12/01/33 | 2,062 | ||||||||||||||
| 539,006 | FGLMC | 4.500 | 10/01/34 | 552 | ||||||||||||||
| 339,346 | FGLMC | 4.500 | 04/01/35 | 349 | ||||||||||||||
| 547,219 | FGLMC | 7.000 | 05/01/35 | 583 | ||||||||||||||
| 1,453,160 | FGLMC | 5.000 | 06/01/36 | 1,530 | ||||||||||||||
| 492,660 | FGLMC | 5.000 | 07/01/39 | 519 | ||||||||||||||
| 67,412 | FGLMC | 4.500 | 12/01/43 | 70 | ||||||||||||||
| 39,232 | FGLMC | 4.500 | 02/01/44 | 41 | ||||||||||||||
| 1,720,289 | FGLMC | 4.500 | 10/01/44 | 1,769 | ||||||||||||||
| 746,354 | FGLMC | 4.500 | 11/01/44 | 763 | ||||||||||||||
| 1,091,024 | FGLMC | 4.500 | 11/01/44 | 1,122 | ||||||||||||||
| 597,129 | FGLMC | 4.500 | 12/01/44 | 613 | ||||||||||||||
| 912,921 | FGLMC | 4.500 | 12/01/44 | 939 | ||||||||||||||
| 3,531,735 | FGLMC | 3.500 | 04/01/45 | 3,473 | ||||||||||||||
| 703,308 | FGLMC | 4.500 | 05/01/45 | 703 | ||||||||||||||
| 16,277,000 | FGLMC | 3.500 | 08/01/45 | 16,052 | ||||||||||||||
| 14,180,765 | FGLMC | 4.000 | 12/01/45 | 14,330 | ||||||||||||||
| 1,700,645 | FGLMC | 4.500 | 06/01/47 | 1,761 | ||||||||||||||
| 2,917,861 | FGLMC | 4.000 | 09/01/47 | 2,938 | ||||||||||||||
| 2,809,016 | FGLMC | 3.500 | 12/01/47 | 2,749 | ||||||||||||||
| 6,913,492 | FGLMC | 4.000 | 07/01/48 | 6,936 | ||||||||||||||
| 10,440,282 | FGLMC | 4.500 | 08/01/48 | 10,665 | ||||||||||||||
| 4,799,712 | FGLMC | 4.500 | 10/01/48 | 4,903 | ||||||||||||||
| 7,589,845 | FGLMC | 3.500 | 11/01/48 | 7,428 | ||||||||||||||
| 9,118 | Federal National Mortgage Association (FNMA) | 8.000 | 07/01/24 | 9 | ||||||||||||||
| 3,442 | FNMA | 9.000 | 11/01/25 | 4 | ||||||||||||||
| 336 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 2,530,630 | FNMA | 3.500 | % | 05/01/32 | $ | 2,537 | |||||||||||
| 31,905,000 | h | FNMA | 2.500 | 07/25/32 | 30,466 | |||||||||||||
| 15,253,467 | FNMA | 3.000 | 10/01/32 | 15,119 | ||||||||||||||
| 260,776 | FNMA | 4.500 | 10/01/33 | 268 | ||||||||||||||
| 464,184 | FNMA | 4.500 | 05/01/35 | 476 | ||||||||||||||
| 2,873,981 | FNMA | 5.000 | 05/01/35 | 3,022 | ||||||||||||||
| 1,341,843 | FNMA | 5.000 | 10/01/35 | 1,412 | ||||||||||||||
| 1,118,271 | FNMA | 5.000 | 02/01/36 | 1,177 | ||||||||||||||
| 45,240,000 | h | FNMA | 3.000 | 07/25/37 | 44,200 | |||||||||||||
| 14,300,000 | h | FNMA | 3.500 | 07/25/37 | 14,210 | |||||||||||||
| 3,128,814 | FNMA | 5.500 | 11/01/38 | 3,361 | ||||||||||||||
| 1,116,595 | FNMA | 3.000 | 10/01/39 | 1,063 | ||||||||||||||
| 13,543,268 | FNMA | 3.000 | 05/01/40 | 12,900 | ||||||||||||||
| 1,903,003 | FNMA | 5.000 | 09/01/40 | 2,003 | ||||||||||||||
| 3,889,780 | FNMA | 5.000 | 05/01/41 | 4,095 | ||||||||||||||
| 30,876,834 | FNMA | 2.000 | 03/01/42 | 27,448 | ||||||||||||||
| 10,563,164 | FNMA | 4.000 | 09/01/42 | 10,611 | ||||||||||||||
| 7,937,473 | FNMA | 3.500 | 04/01/43 | 7,800 | ||||||||||||||
| 6,911,923 | FNMA | 3.500 | 09/01/43 | 6,805 | ||||||||||||||
| 5,903,548 | i | FNMA | LIBOR 1 M + 5.950% | 4.326 | 09/25/43 | 813 | ||||||||||||
| 3,182,742 | FNMA | 4.000 | 01/01/44 | 3,213 | ||||||||||||||
| 7,180,593 | FNMA | 4.500 | 03/01/44 | 7,400 | ||||||||||||||
| 3,234,785 | FNMA | 4.500 | 06/01/44 | 3,322 | ||||||||||||||
| 3,385,967 | FNMA | 4.500 | 10/01/44 | 3,477 | ||||||||||||||
| 5,474,820 | FNMA | 4.500 | 11/01/44 | 5,603 | ||||||||||||||
| 1,751,094 | FNMA | 5.000 | 11/01/44 | 1,843 | ||||||||||||||
| 2,000,282 | FNMA | 4.500 | 12/01/44 | 2,054 | ||||||||||||||
| 2,109,860 | FNMA | 4.000 | 01/01/45 | 2,119 | ||||||||||||||
| 582,828 | FNMA | 4.500 | 03/01/45 | 595 | ||||||||||||||
| 298,347 | FNMA | 4.500 | 04/01/45 | 306 | ||||||||||||||
| 7,323,757 | FNMA | 3.500 | 05/01/45 | 7,216 | ||||||||||||||
| 5,747,542 | FNMA | 4.000 | 12/01/45 | 5,788 | ||||||||||||||
| 9,475,647 | FNMA | 3.500 | 01/01/46 | 9,265 | ||||||||||||||
| 16,316,858 | FNMA | 4.000 | 01/01/46 | 16,432 | ||||||||||||||
| 1,116,802 | FNMA | 4.000 | 04/01/46 | 1,122 | ||||||||||||||
| 7,592,645 | FNMA | 3.500 | 06/01/46 | 7,424 | ||||||||||||||
| 9,560,388 | FNMA | 3.500 | 07/01/46 | 9,348 | ||||||||||||||
| 17,414,164 | FNMA | 3.500 | 07/01/46 | 17,113 | ||||||||||||||
| 1,627,061 | FNMA | 3.000 | 10/01/46 | 1,506 | ||||||||||||||
| 9,424,097 | FNMA | 3.500 | 10/01/46 | 9,215 | ||||||||||||||
| 18,244,868 | FNMA | 3.500 | 01/01/47 | 17,841 | ||||||||||||||
| 3,772,544 | FNMA | 4.500 | 05/01/47 | 3,893 | ||||||||||||||
| 389,645 | FNMA | 3.000 | 11/01/47 | 361 | ||||||||||||||
| 7,230,823 | FNMA | 3.500 | 11/01/47 | 7,106 | ||||||||||||||
| 22,343,956 | FNMA | 4.000 | 12/01/47 | 22,394 | ||||||||||||||
| 15,512,488 | FNMA | 3.500 | 01/01/48 | 15,169 | ||||||||||||||
| 6,395,505 | FNMA | 4.500 | 01/01/48 | 6,527 | ||||||||||||||
| 5,583,283 | FNMA | 4.500 | 02/01/48 | 5,698 | ||||||||||||||
| 5,445,671 | FNMA | 4.000 | 03/01/48 | 5,458 | ||||||||||||||
| 22,547,031 | FNMA | 4.500 | 03/01/48 | 23,009 | ||||||||||||||
| 4,426,155 | FNMA | 4.500 | 05/01/48 | 4,519 | ||||||||||||||
| 3,374,444 | FNMA | 4.500 | 05/01/48 | 3,447 | ||||||||||||||
| 8,833,865 | FNMA | 5.000 | 08/01/48 | 9,222 | ||||||||||||||
| 337 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 463,247 | FNMA | 3.000 | % | 06/01/49 | $ | 429 | |||||||||
| 59,425,000 | h | FNMA | 4.000 | 07/25/49 | 58,597 | |||||||||||
| 49,900,000 | h | FNMA | 4.500 | 07/25/49 | 50,089 | |||||||||||
| 20,331,329 | FNMA | 3.000 | 07/01/50 | 19,118 | ||||||||||||
| 12,689,065 | FNMA | 2.000 | 08/25/50 | 1,793 | ||||||||||||
| 34,985,941 | FNMA | 2.500 | 11/25/50 | 5,064 | ||||||||||||
| 4,253,036 | FNMA | 3.000 | 02/25/51 | 854 | ||||||||||||
| 86,505,265 | FNMA | 2.000 | 04/01/51 | 75,194 | ||||||||||||
| 12,765,029 | FNMA | 3.000 | 09/01/51 | 12,023 | ||||||||||||
| 12,441,706 | FNMA | 2.500 | 11/25/51 | 1,783 | ||||||||||||
| 52,148,161 | FNMA | 2.000 | 12/01/51 | 45,461 | ||||||||||||
| 11,463,582 | FNMA | 2.000 | 01/01/52 | 10,020 | ||||||||||||
| 19,884,863 | FNMA | 2.500 | 01/01/52 | 17,960 | ||||||||||||
| 1,556,742 | FNMA | 3.000 | 01/01/52 | 1,459 | ||||||||||||
| 41,206,385 | FNMA | 2.000 | 02/01/52 | 35,921 | ||||||||||||
| 31,126,274 | FNMA | 2.500 | 02/01/52 | 28,127 | ||||||||||||
| 64,877,768 | FNMA | 2.500 | 02/01/52 | 58,585 | ||||||||||||
| 39,110,397 | FNMA | 2.500 | 02/01/52 | 35,307 | ||||||||||||
| 32,457,646 | FNMA | 2.500 | 02/01/52 | 29,297 | ||||||||||||
| 13,944,568 | FNMA | 3.500 | 02/01/52 | 13,518 | ||||||||||||
| 29,528,084 | FNMA | 2.000 | 03/01/52 | 25,657 | ||||||||||||
| 10,566,569 | FNMA | 2.000 | 03/01/52 | 9,188 | ||||||||||||
| 12,634,922 | FNMA | 2.500 | 04/01/52 | 11,400 | ||||||||||||
| 5,939,601 | FNMA | 3.000 | 04/01/52 | 5,553 | ||||||||||||
| 48,095,032 | FNMA | 3.000 | 04/01/52 | 44,988 | ||||||||||||
| 7,837,464 | FNMA | 3.000 | 04/01/52 | 7,323 | ||||||||||||
| 84,631,436 | FNMA | 3.000 | 04/01/52 | 79,185 | ||||||||||||
| 55,340,220 | FNMA | 3.000 | 04/01/52 | 51,766 | ||||||||||||
| 29,727,275 | FNMA | 3.500 | 05/01/52 | 28,648 | ||||||||||||
| 46,454,561 | FNMA | 4.000 | 05/01/52 | 45,863 | ||||||||||||
| 8,928,601 | FNMA | 4.000 | 06/01/52 | 8,815 | ||||||||||||
| 8,130,000 | h | FNMA | 4.000 | 07/01/52 | 8,028 | |||||||||||
| 37,950,000 | h | FNMA | 3.500 | 07/25/52 | 36,494 | |||||||||||
| 55,470,000 | h | FNMA | 5.000 | 07/25/52 | 56,614 | |||||||||||
| 25,000,000 | h | FNMA | 5.000 | 08/25/52 | 25,442 | |||||||||||
| 4,725,000 | g,i | Freddie Mac STACR REMIC Trust | 4.326 | 10/25/41 | 4,042 | |||||||||||
| 3,130,000 | g,i | Freddie Mac STACR REMIC Trust | 4.426 | 03/25/42 | 2,989 | |||||||||||
| 33,165,000 | g,i | Freddie Mac STACR REMIC Trust | 4.276 | 05/25/42 | 31,530 | |||||||||||
| 4,965,000 | g,i | Freddie Mac Structured Agency Credit Risk Debt Notes | 3.226 | 08/25/33 | 4,693 | |||||||||||
| 7,600,000 | g,i | Freddie Mac Structured Agency Credit Risk Debt Notes | 3.700 | 11/25/41 | 6,501 | |||||||||||
| 32,000,000 | g,i | Freddie Mac Structured Agency Credit Risk Debt Notes | 3.326 | 02/25/42 | 29,525 | |||||||||||
| 31,100,000 | g,i | Freddie Mac Structured Agency Credit Risk Debt Notes | 5.279 | 06/25/42 | 31,256 | |||||||||||
| 11,385,189 | Government National Mortgage Association (GNMA) | 3.700 | 10/15/33 | 11,334 | ||||||||||||
| 198,176 | GNMA | 5.000 | 04/15/38 | 207 | ||||||||||||
| 251,226 | GNMA | 6.500 | 11/20/38 | 275 | ||||||||||||
| 928,630 | GNMA | 5.000 | 06/15/39 | 979 | ||||||||||||
| 529,173 | GNMA | 5.000 | 06/15/39 | 558 | ||||||||||||
| 10,056,394 | GNMA | 3.700 | 08/15/40 | 9,964 | ||||||||||||
| 4,799,462 | GNMA | 4.500 | 12/20/45 | 4,972 | ||||||||||||
| 338 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 4,621,160 | GNMA | 4.000 | % | 06/20/46 | $ | 627 | |||||||||
| 27,825,000 | h | GNMA | 3.000 | 07/20/47 | 26,227 | |||||||||||
| 47,824,772 | GNMA | 2.500 | 05/20/52 | 43,825 | ||||||||||||
| 93,304,975 | GNMA | 3.000 | 05/20/52 | 88,077 | ||||||||||||
| 19,070,000 | h | GNMA | 2.000 | 07/20/52 | 16,932 | |||||||||||
| 18,740,000 | h | GNMA | 2.500 | 07/20/52 | 17,147 | |||||||||||
| 5,000,000 | h | GNMA | 3.500 | 07/20/52 | 4,858 | |||||||||||
| 5,000,000 | h | GNMA | 4.000 | 07/20/52 | 4,978 | |||||||||||
| 11,351,912 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 03/25/52 | 9,478 | |||||||||||
| 2,296,712 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 03/25/52 | 2,092 | |||||||||||
| 5,144,397 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 05/01/52 | 4,640 | |||||||||||
| 11,850,002 | g,i | GS Mortgage-Backed Securities Trust | 3.000 | 08/26/52 | 10,305 | |||||||||||
| 7,275,000 | †,g,i | J.P. Morgan Mortgage Trust | 3.000 | 12/25/52 | 6,277 | |||||||||||
| 15,059,819 | g,i | JP Morgan Mortgage Trust | 2.500 | 07/25/52 | 12,717 | |||||||||||
| 25,920,221 | g,i | JP Morgan Mortgage Trust | 3.250 | 07/25/52 | 22,816 | |||||||||||
| 20,475,302 | g,i | JP Morgan Mortgage Trust | 3.000 | 08/25/52 | 18,031 | |||||||||||
| 10,816,724 | g,i | JP Morgan Mortgage Trust | 3.000 | 10/25/52 | 9,446 | |||||||||||
| 6,564,727 | g,i | JP Morgan Mortgage Trust | 3.000 | 11/25/52 | 5,692 | |||||||||||
| TOTAL MORTGAGE BACKED | 2,260,649 | |||||||||||||||
| MUNICIPAL BONDS - 3.0% | ||||||||||||||||
| 2,975,000 | Chicago Housing Authority | 3.682 | 01/01/25 | 2,966 | ||||||||||||
| 245,000 | City & County of San Francisco CA Community Facilities District | 3.264 | 09/01/25 | 240 | ||||||||||||
| 1,000,000 | City & County of San Francisco CA Community Facilities District | 4.038 | 09/01/34 | 966 | ||||||||||||
| 845,000 | City & County of San Francisco CA Community Facilities District | 3.750 | 09/01/37 | 768 | ||||||||||||
| 2,000,000 | City & County of San Francisco CA Community Facilities District | 4.000 | 09/01/48 | 1,776 | ||||||||||||
| 3,995,000 | City of Los Angeles CA Wastewater System Revenue | 4.029 | 06/01/39 | 3,654 | ||||||||||||
| 4,940,000 | City of New York NY | 3.200 | 12/01/26 | 4,827 | ||||||||||||
| 1,575,000 | City of San Antonio TX Customer Facility Charge Revenue | 4.353 | 07/01/25 | 1,616 | ||||||||||||
| 4,055,000 | Commonwealth Financing Authority | 3.864 | 06/01/38 | 3,867 | ||||||||||||
| 19,355,000 | Commonwealth Financing Authority | 3.807 | 06/01/41 | 17,548 | ||||||||||||
| 1,505,000 | County of Miami-Dade FL Aviation Revenue | 2.218 | 10/01/22 | 1,504 | ||||||||||||
| 1,500,000 | County of Miami-Dade FL Aviation Revenue | 2.368 | 10/01/23 | 1,479 | ||||||||||||
| 2,500,000 | County of Miami-Dade FL Aviation Revenue | 3.285 | 10/01/23 | 2,492 | ||||||||||||
| 3,500,000 | County of Miami-Dade FL Aviation Revenue | 2.504 | 10/01/24 | 3,397 | ||||||||||||
| 2,250,000 | County of Miami-Dade FL Aviation Revenue | 3.405 | 10/01/24 | 2,227 | ||||||||||||
| 4,365,000 | County of Miami-Dade FL Aviation Revenue | 2.604 | 10/01/25 | 4,186 | ||||||||||||
| 2,375,000 | County of Miami-Dade FL Aviation Revenue | 3.505 | 10/01/25 | 2,342 | ||||||||||||
| 2,500,000 | County of Miami-Dade FL Aviation Revenue | 2.704 | 10/01/26 | 2,368 | ||||||||||||
| 3,940,000 | County of Miami-Dade FL Aviation Revenue | 3.049 | 10/01/26 | 3,784 | ||||||||||||
| 3,750,000 | County of Miami-Dade FL Aviation Revenue | 3.612 | 10/01/26 | 3,683 | ||||||||||||
| 4,700,000 | County of Miami-Dade FL Aviation Revenue | 2.529 | 10/01/30 | 4,103 | ||||||||||||
| 3,730,000 | County of Miami-Dade FL Aviation Revenue | 3.732 | 10/01/37 | 3,340 | ||||||||||||
| 3,900,000 | County of Miami-Dade FL Aviation Revenue | 3.982 | 10/01/41 | 3,448 | ||||||||||||
| 9,160,000 | County of Miami-Dade FL Aviation Revenue | 4.280 | 10/01/41 | 8,548 | ||||||||||||
| 2,000,000 | Duke University | 3.199 | 10/01/38 | 1,771 | ||||||||||||
| 5,080,000 | Illinois Finance Authority | 3.944 | 08/15/47 | 4,515 | ||||||||||||
| 339 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 4,805,000 | Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy | 3.375 | % | 09/01/35 | $ | 4,181 | |||||||||
| 1,110,000 | New Jersey Economic Development Authority | 3.800 | 07/01/22 | 1,110 | ||||||||||||
| 750,000 | New York City Housing Development Corp | 3.453 | 11/01/22 | 753 | ||||||||||||
| 1,360,000 | New York City Housing Development Corp | 3.523 | 05/01/23 | 1,364 | ||||||||||||
| 1,815,000 | New York City Housing Development Corp | 3.573 | 11/01/23 | 1,824 | ||||||||||||
| 1,000,000 | New York City Housing Development Corp | 3.650 | 05/01/24 | 1,004 | ||||||||||||
| 5,680,000 | New York State Dormitory Authority | 3.998 | 07/01/39 | 5,343 | ||||||||||||
| 10,605,000 | New York State Dormitory Authority | 4.294 | 07/01/44 | 9,928 | ||||||||||||
| 6,000,000 | New York State Dormitory Authority | 3.879 | 07/01/46 | 5,234 | ||||||||||||
| 5,000,000 | New York State Thruway Authority | 2.256 | 01/01/25 | 4,830 | ||||||||||||
| 6,460,000 | New York State Thruway Authority | 2.406 | 01/01/26 | 6,175 | ||||||||||||
| 4,750,000 | New York State Thruway Authority | 2.500 | 01/01/27 | 4,480 | ||||||||||||
| 2,000,000 | Port of Corpus Christi Authority of Nueces County | 3.138 | 12/01/22 | 2,005 | ||||||||||||
| 3,400,000 | Port of Corpus Christi Authority of Nueces County | 3.287 | 12/01/23 | 3,404 | ||||||||||||
| 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 | 992 | ||||||||||||
| 1,910,000 | Public Finance Authority | 4.269 | 07/01/40 | 1,692 | ||||||||||||
| 6,360,000 | San Jose Redevelopment Agency | 3.375 | 08/01/34 | 5,797 | ||||||||||||
| 13,060,000 | State of California | 4.600 | 04/01/38 | 13,206 | ||||||||||||
| 10,500,000 | State of Illinois | 3.150 | 06/15/26 | 10,072 | ||||||||||||
| 12,500,000 | State of Illinois | 3.250 | 06/15/27 | 11,913 | ||||||||||||
| 27,150,000 | State of Illinois | 5.100 | 06/01/33 | 27,315 | ||||||||||||
| 9,700,000 | State of Oregon Department of Administrative Services | 4.103 | 05/01/39 | 8,840 | ||||||||||||
| 9,900,000 | State of Wisconsin | 3.154 | 05/01/27 | 9,680 | ||||||||||||
| 25,860,000 | University of California | 3.063 | 07/01/25 | 25,623 | ||||||||||||
| 10,230,000 | University of California | 4.601 | 05/15/31 | 10,530 | ||||||||||||
| 17,045,000 | University of California | 3.931 | 05/15/45 | 16,007 | ||||||||||||
| 21,000,000 | University of Chicago | 4.151 | 10/01/45 | 20,181 | ||||||||||||
| 7,620,000 | University of Massachusetts Building Authority | 3.097 | 11/01/35 | 6,631 | ||||||||||||
| 13,000,000 | University of Massachusetts Building Authority | 3.434 | 11/01/40 | 11,158 | ||||||||||||
| 20,000,000 | University of New Mexico | 3.532 | 06/20/32 | 19,578 | ||||||||||||
| 1,750,000 | Utah Municipal Power Agency | 2.262 | 07/01/22 | 1,750 | ||||||||||||
| 1,500,000 | Utah Municipal Power Agency | 2.512 | 07/01/23 | 1,487 | ||||||||||||
| 2,160,000 | Virginia Port Authority | 4.228 | 07/01/36 | 2,132 | ||||||||||||
| 390,000 | Washington Convention & Sports Authority | 3.969 | 10/01/30 | 388 | ||||||||||||
| TOTAL MUNICIPAL BONDS | 349,516 | |||||||||||||||
| U.S. TREASURY SECURITIES - 14.7% | ||||||||||||||||
| 4,500,000 | United States Treasury Bond | 4.750 | 02/15/37 | 5,433 | ||||||||||||
| 22,750,000 | United States Treasury Bond | 3.500 | 02/15/39 | 23,766 | ||||||||||||
| 12,050,000 | United States Treasury Bond | 3.875 | 08/15/40 | 12,992 | ||||||||||||
| 20,935,000 | United States Treasury Bond | 4.375 | 05/15/41 | 23,978 | ||||||||||||
| 12,584,000 | United States Treasury Bond | 3.750 | 08/15/41 | 13,222 | ||||||||||||
| 6,000,000 | United States Treasury Bond | 2.750 | 11/15/42 | 5,372 | ||||||||||||
| 35,680,000 | United States Treasury Bond | 3.000 | 05/15/45 | 33,096 | ||||||||||||
| 41,710,000 | United States Treasury Bond | 2.875 | 08/15/45 | 37,891 | ||||||||||||
| 52,140,000 | United States Treasury Bond | 2.500 | 05/15/46 | 44,193 | ||||||||||||
| 1,075,000 | United States Treasury Bond | 3.000 | 05/15/47 | 1,005 | ||||||||||||
| 30,710,000 | United States Treasury Bond | 2.750 | 11/15/47 | 27,512 | ||||||||||||
| 6,155,000 | United States Treasury Bond | 3.125 | 05/15/48 | 5,957 | ||||||||||||
| 51,995,000 | United States Treasury Bond | 3.000 | 08/15/48 | 49,129 | ||||||||||||
| 20,120,000 | United States Treasury Bond | 3.375 | 11/15/48 | 20,443 | ||||||||||||
| 340 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 35,070,660 | k | United States Treasury Inflation Indexed Bonds | 0.500 | % | 04/15/24 | $ | 35,556 | ||||||||||
| 39,285,000 | United States Treasury Note | 0.125 | 08/31/22 | 39,191 | ||||||||||||||
| 27,305,000 | United States Treasury Note | 0.125 | 10/31/22 | 27,125 | ||||||||||||||
| 14,575,000 | United States Treasury Note | 0.125 | 01/31/23 | 14,369 | ||||||||||||||
| 4,475,000 | United States Treasury Note | 0.125 | 03/31/23 | 4,388 | ||||||||||||||
| 9,875,000 | United States Treasury Note | 0.125 | 05/31/23 | 9,630 | ||||||||||||||
| 5,145,000 | United States Treasury Note | 0.125 | 08/31/23 | 4,977 | ||||||||||||||
| 73,500,000 | United States Treasury Note | 0.250 | 11/15/23 | 70,830 | ||||||||||||||
| 98,250,000 | e | United States Treasury Note | 2.500 | 05/31/24 | 97,363 | |||||||||||||
| 125,795,000 | United States Treasury Note | 2.875 | 06/15/25 | 125,294 | ||||||||||||||
| 2,205,000 | United States Treasury Note | 0.250 | 10/31/25 | 2,009 | ||||||||||||||
| 230,125,000 | e | United States Treasury Note | 2.625 | 05/31/27 | 225,774 | |||||||||||||
| 29,925,000 | United States Treasury Note | 0.500 | 10/31/27 | 26,145 | ||||||||||||||
| 1,250,000 | United States Treasury Note | 1.250 | 09/30/28 | 1,119 | ||||||||||||||
| 26,260,000 | United States Treasury Note | 2.375 | 03/31/29 | 25,137 | ||||||||||||||
| 305,533,000 | e | United States Treasury Note | 2.875 | 05/15/32 | 302,096 | |||||||||||||
| 10,000,000 | United States Treasury Note | 1.125 | 08/15/40 | 6,909 | ||||||||||||||
| 85,325,800 | United States Treasury Note | 2.250 | 02/15/42 | 72,354 | ||||||||||||||
| 4,070,000 | United States Treasury Note | 3.250 | 05/15/42 | 3,972 | ||||||||||||||
| 305,962,000 | United States Treasury Note | 2.250 | 02/15/52 | 251,797 | ||||||||||||||
| 35,000,000 | United States Treasury Note | 2.875 | 05/15/52 | 33,059 | ||||||||||||||
| TOTAL U.S. TREASURY SECURITIES | 1,683,083 | |||||||||||||||||
| TOTAL GOVERNMENT BONDS | 4,859,367 | |||||||||||||||||
| (Cost $5,144,290) | ||||||||||||||||||
| STRUCTURED ASSETS - 18.5% | ||||||||||||||||||
| ASSET BACKED - 6.7% | ||||||||||||||||||
| 5,000,000 | g,i | AGL CLO 19 Ltd | 0.000 | 07/21/35 | 4,935 | |||||||||||||
| Series - 2022 19A (Class B1) | ||||||||||||||||||
| 7,100,000 | g,i | AIMCO CLO 16 Ltd | LIBOR 3 M + 1.650% | 1.895 | 01/17/35 | 6,646 | ||||||||||||
| Series - 2021 16A (Class B) | ||||||||||||||||||
| 7,500,000 | g,i | AIMCO CLO Series | LIBOR 3 M + 1.500% | 2.563 | 04/20/34 | 6,988 | ||||||||||||
| Series - 2017 AA (Class BR) | ||||||||||||||||||
| 4,120,000 | AmeriCredit Automobile Receivables Trust | 2.130 | 03/18/26 | 3,966 | ||||||||||||||
| Series - 2020 2 (Class D) | ||||||||||||||||||
| 6,190,000 | AmeriCredit Automobile Receivables Trust | 1.490 | 09/18/26 | 5,810 | ||||||||||||||
| Series - 2020 3 (Class D) | ||||||||||||||||||
| 2,121,964 | g | AMSR Trust | 1.819 | 04/17/37 | 2,013 | |||||||||||||
| Series - 2020 SFR1 (Class A) | ||||||||||||||||||
| 3,499,000 | g | AMSR Trust | 3.148 | 01/19/39 | 3,281 | |||||||||||||
| Series - 2019 SFR1 (Class C) | ||||||||||||||||||
| 3,347,000 | g | AMSR Trust | 3.247 | 01/19/39 | 3,106 | |||||||||||||
| Series - 2019 SFR1 (Class D) | ||||||||||||||||||
| 74,236 | †,g | Asset Backed Funding Corp NIM Trust | 5.900 | 07/26/35 | 0^ | |||||||||||||
| Series - 2005 WMC1 (Class N1) | ||||||||||||||||||
| 6,000,000 | g | Avis Budget Rental Car Funding AESOP LLC | 3.070 | 09/20/23 | 6,004 | |||||||||||||
| Series - 2017 1A (Class A) | ||||||||||||||||||
| 32,000,000 | g | Avis Budget Rental Car Funding AESOP LLC | 2.970 | 03/20/24 | 31,898 | |||||||||||||
| Series - 2017 2A (Class A) | ||||||||||||||||||
| 341 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 9,500,000 | g | Avis Budget Rental Car Funding AESOP LLC | 1.380 | % | 08/20/27 | $ | 8,494 | ||||||||||
| Series - 2021 1A (Class A) | ||||||||||||||||||
| 4,400,000 | g | BHG Securitization Trust | 1.670 | 10/17/34 | 3,920 | |||||||||||||
| Series - 2021 B (Class B) | ||||||||||||||||||
| 2,411,598 | g | BRE Grand Islander Timeshare Issuer LLC | 3.280 | 09/26/33 | 2,318 | |||||||||||||
| Series - 2019 A (Class A) | ||||||||||||||||||
| 738,503 | g,i | Bruegel 2021 DAC Series - 2021 1A (Class D) | EURIBOR 3 M + 2.470% | 2.470 | 05/22/31 | 741 | ||||||||||||
| 12,268,593 | g | Capital Automotive REIT | 2.690 | 02/15/50 | 11,615 | |||||||||||||
| Series - 2020 1A (Class A1) | ||||||||||||||||||
| 5,831,988 | g | Capital Automotive REIT | 1.440 | 08/15/51 | 5,141 | |||||||||||||
| Series - 2021 1A (Class A1) | ||||||||||||||||||
| 4,229,119 | g | Capital Automotive REIT | 1.920 | 08/15/51 | 3,696 | |||||||||||||
| Series - 2021 1A (Class A3) | ||||||||||||||||||
| 9,850,000 | g | Cars Net Lease Mortgage Notes Series | 2.010 | 12/15/50 | 8,658 | |||||||||||||
| Series - 2020 1A (Class A1) | ||||||||||||||||||
| 5,000,000 | Carvana Auto Receivables Trust | 0.970 | 03/10/28 | 4,679 | ||||||||||||||
| Series - 2021 N2 (Class A2) | ||||||||||||||||||
| 1,000,000 | Carvana Auto Receivables Trust | 1.270 | 03/10/28 | 948 | ||||||||||||||
| Series - 2021 N2 (Class D) | ||||||||||||||||||
| 600,000 | g,i | Cassia SRL Series - 2022 1A (Class B) | EURIBOR 3 M + 3.500% | 0.000 | 05/22/34 | 593 | ||||||||||||
| 4,150,000 | g,i | Cayuga Park CLO Ltd | LIBOR 3 M + 1.650% | 1.000 | 07/17/34 | 3,948 | ||||||||||||
| Series - 2020 1A (Class B1R) | ||||||||||||||||||
| 797,626 | i | C-BASS Trust | LIBOR 1 M + 0.160% | 1.784 | 07/25/36 | 760 | ||||||||||||
| Series - 2006 CB6 (Class A1) | ||||||||||||||||||
| 17,581,617 | g | CF Hippolyta LLC | 1.690 | 07/15/60 | 15,931 | |||||||||||||
| Series - 2020 1 (Class A1) | ||||||||||||||||||
| 5,192,011 | g | CF Hippolyta LLC | 1.990 | 07/15/60 | 4,437 | |||||||||||||
| Series - 2020 1 (Class A2) | ||||||||||||||||||
| 3,010,046 | g | CF Hippolyta LLC | 2.280 | 07/15/60 | 2,700 | |||||||||||||
| Series - 2020 1 (Class B1) | ||||||||||||||||||
| 19,290,107 | g | CF Hippolyta LLC | 1.530 | 03/15/61 | 17,004 | |||||||||||||
| Series - 2021 1A (Class A1) | ||||||||||||||||||
| 4,581,400 | g | CF Hippolyta LLC | 1.980 | 03/15/61 | 3,954 | |||||||||||||
| Series - 2021 1A (Class B1) | ||||||||||||||||||
| 428,194 | i | Chase Funding Mortgage Loan Asset-Backed Certificates | 5.700 | 02/26/35 | 410 | |||||||||||||
| Series - 2004 2 (Class 1M2) | ||||||||||||||||||
| 25,500,000 | Chase Issuance Trust | 1.530 | 01/15/25 | 25,307 | ||||||||||||||
| Series - 2020 A1 (Class A1) | ||||||||||||||||||
| 1,500,000 | g,i | CIFC Funding Ltd | LIBOR 3 M + 1.220% | 2.283 | 07/20/30 | 1,479 | ||||||||||||
| Series - 2017 3A (Class A1) | ||||||||||||||||||
| 2,000,000 | g,i | CIFC Funding Ltd | LIBOR 3 M + 1.600% | 2.644 | 11/16/30 | 1,925 | ||||||||||||
| Series - 2017 5A (Class A2) | ||||||||||||||||||
| 86,237 | CIT Group Home Equity Loan Trust (Step Bond) | 6.200 | 02/25/30 | 84 | ||||||||||||||
| Series - 2002 1 (Class AF6) | ||||||||||||||||||
| 5,074,208 | g | Corevest American Finance Trust | 1.832 | 03/15/50 | 4,816 | |||||||||||||
| Series - 2020 1 (Class A1) | ||||||||||||||||||
| 8,081,475 | g | DB Master Finance LLC | 4.021 | 05/20/49 | 7,793 | |||||||||||||
| Series - 2019 1A (Class A2II) | ||||||||||||||||||
| 342 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 37,312,500 | g | DB Master Finance LLC | 2.045 | % | 11/20/51 | $ | 33,128 | ||||||||||
| Series - 2021 1A (Class A2I) | ||||||||||||||||||
| 29,452,000 | g | DB Master Finance LLC | 2.493 | 11/20/51 | 25,371 | |||||||||||||
| Series - 2021 1A (Class A2II) | ||||||||||||||||||
| 1,550,287 | g | Diamond Resorts Owner Trust | 3.700 | 01/21/31 | 1,547 | |||||||||||||
| Series - 2018 1 (Class A) | ||||||||||||||||||
| 3,740,237 | g | Diamond Resorts Owner Trust | 2.890 | 02/20/32 | 3,673 | |||||||||||||
| Series - 2019 1A (Class A) | ||||||||||||||||||
| 531,920 | g | Diamond Resorts Owner Trust | 2.700 | 11/21/33 | 499 | |||||||||||||
| Series - 2021 1A (Class C) | ||||||||||||||||||
| 28,289,250 | g | Domino’s Pizza Master Issuer LLC | 2.662 | 04/25/51 | 24,658 | |||||||||||||
| Series - 2021 1A (Class A2I) | ||||||||||||||||||
| 3,800,000 | g,i | Dryden 49 Senior Loan Fund | LIBOR 3 M + 1.600% | 2.644 | 07/18/30 | 3,662 | ||||||||||||
| Series - 2017 49A (Class BR) | ||||||||||||||||||
| 4,000,000 | g | DT Auto Owner Trust | 0.840 | 10/15/26 | 3,816 | |||||||||||||
| Series - 2021 1A (Class C) | ||||||||||||||||||
| 1,240,721 | g,i | Ellington Loan Acquisition Trust | LIBOR 1 M + 1.100% | 2.724 | 05/25/37 | 1,232 | ||||||||||||
| Series - 2007 2 (Class A2C) | ||||||||||||||||||
| 6,812,366 | g | FCI Funding LLC | 1.130 | 04/15/33 | 6,666 | |||||||||||||
| Series - 2021 1A (Class A) | ||||||||||||||||||
| 7,215,339 | g | FNA VI LLC | 1.350 | 01/10/32 | 6,739 | |||||||||||||
| Series - 2021 1A (Class A) | ||||||||||||||||||
| 10,050,000 | g | Ford Credit Auto Owner Trust | 2.360 | 03/15/29 | 10,050 | |||||||||||||
| Series - 2017 2 (Class A) | ||||||||||||||||||
| 12,000,000 | Ford Credit Floorplan Master Owner Trust | 2.230 | 09/15/24 | 11,999 | ||||||||||||||
| Series - 2019 3 (Class A1) | ||||||||||||||||||
| 1,941,605 | g,i | GoldenTree Loan Opportunities IX Ltd | LIBOR 3 M + 1.110% | 2.349 | 10/29/29 | 1,921 | ||||||||||||
| Series - 2014 9A (Class AR2) | ||||||||||||||||||
| 4,000,000 | g | GSCG Trust | 2.936 | 09/06/34 | 3,800 | |||||||||||||
| Series - 2019 600C (Class A) | ||||||||||||||||||
| 292,245 | g | HERO Funding Trust | 3.280 | 09/20/48 | 283 | |||||||||||||
| Series - 2017 2A (Class A1) | ||||||||||||||||||
| 584,490 | g | HERO Funding Trust | 4.070 | 09/20/48 | 568 | |||||||||||||
| Series - 2017 2A (Class A2) | ||||||||||||||||||
| 24,000,000 | g | Hertz Vehicle Financing LLC | 1.210 | 12/26/25 | 22,445 | |||||||||||||
| Series - 2021 1A (Class A) | ||||||||||||||||||
| 1,888,867 | g | Hilton Grand Vacations Trust | 2.660 | 12/26/28 | 1,861 | |||||||||||||
| Series - 2017 AA (Class A) | ||||||||||||||||||
| 1,629,148 | g | Hilton Grand Vacations Trust | 2.960 | 12/26/28 | 1,594 | |||||||||||||
| Series - 2017 AA (Class B) | ||||||||||||||||||
| 4,082,105 | g | Hilton Grand Vacations Trust | 2.340 | 07/25/33 | 3,904 | |||||||||||||
| Series - 2019 AA (Class A) | ||||||||||||||||||
| 423,477 | i | Home Equity Asset Trust | LIBOR 1 M + 1.500% | 3.986 | 06/25/33 | 418 | ||||||||||||
| Series - 2003 1 (Class M1) | ||||||||||||||||||
| 1,499,931 | g,i | Invitation Homes Trust | LIBOR 1 M + 1.250% | 2.773 | 01/17/38 | 1,485 | ||||||||||||
| Series - 2018 SFR4 (Class B) | ||||||||||||||||||
| 3,901,709 | g | JG Wentworth XXII LLC | 3.820 | 12/15/48 | 3,860 | |||||||||||||
| Series - 2010 3A (Class A) | ||||||||||||||||||
| 5,000,000 | g,i | KKR Clo 32 Ltd | LIBOR 3 M + 1.750% | 2.794 | 01/15/32 | 4,768 | ||||||||||||
| Series - 2020 32A (Class B) | ||||||||||||||||||
| 5,500,000 | g,i | Madison Park Funding XXI Ltd | LIBOR 3 M + 1.650% | 0.000 | 10/15/32 | 5,222 | ||||||||||||
| Series - 2016 21A (Class A2RR) | ||||||||||||||||||
| 530,000 | g,i | Magnetite XVIII Ltd | LIBOR 3 M + 1.500% | 2.911 | 11/15/28 | 514 | ||||||||||||
| Series - 2016 18A (Class BR) | ||||||||||||||||||
| 343 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 3,500,000 | g,i | Massachusetts St | LIBOR 3 M + 1.650% | 1.882 | % | 01/15/35 | $ | 3,309 | |||||||||
| Series - 2021 3A (Class B) | ||||||||||||||||||
| 5,298,628 | g | MVW LLC | 1.140 | 01/22/41 | 4,925 | |||||||||||||
| Series - 2021 1WA (Class A) | ||||||||||||||||||
| 1,615,164 | g | MVW Owner Trust | 2.420 | 12/20/34 | 1,585 | |||||||||||||
| Series - 2017 1A (Class A) | ||||||||||||||||||
| 1,813,016 | g | MVW Owner Trust | 3.450 | 01/21/36 | 1,783 | |||||||||||||
| Series - 2018 1A (Class A) | ||||||||||||||||||
| 1,943,662 | g | MVW Owner Trust | 2.890 | 11/20/36 | 1,878 | |||||||||||||
| Series - 2019 1A (Class A) | ||||||||||||||||||
| 6,344,892 | g | MVW Owner Trust | 2.220 | 10/20/38 | 6,003 | |||||||||||||
| Series - 2019 2A (Class A) | ||||||||||||||||||
| 3,730,384 | g | Navient Private Education Refi Loan Trust | 1.310 | 01/15/69 | 3,477 | |||||||||||||
| Series - 2020 HA (Class A) | ||||||||||||||||||
| 6,157,089 | g | Navient Private Education Refi Loan Trust | 0.840 | 05/15/69 | 5,636 | |||||||||||||
| Series - 2021 A (Class A) | ||||||||||||||||||
| 3,066,961 | g | Navient Student Loan Trust | 3.390 | 12/15/59 | 2,967 | |||||||||||||
| Series - 2019 BA (Class A2A) | ||||||||||||||||||
| 500,000 | g,i | NCMF Trust | 4.614 | 03/15/39 | 490 | |||||||||||||
| Series - 2022 MFP (Class D) | ||||||||||||||||||
| 10,000,000 | g,i | Neuberger Berman CLO Ltd | 0.000 | 04/25/36 | 9,395 | |||||||||||||
| Series - 2022 48A (Class B) | ||||||||||||||||||
| 8,600,000 | g,i | Neuberger Berman Loan Advisers CLO 31 Ltd | LIBOR 3 M + 1.550% | 2.613 | 04/20/31 | 8,192 | ||||||||||||
| Series - 2019 31A (Class BR) | ||||||||||||||||||
| 6,650,000 | g,i | OHA Credit Funding 10 Ltd | LIBOR 3 M + 1.650% | 1.896 | 01/18/36 | 6,315 | ||||||||||||
| Series - 2021 10A (Class B) | ||||||||||||||||||
| 14,853,915 | g | OneMain Financial Issuance Trust | 3.840 | 05/14/32 | 14,812 | |||||||||||||
| Series - 2020 1A (Class A) | ||||||||||||||||||
| 17,350,000 | g | OneMain Financial Issuance Trust | 1.750 | 09/14/35 | 15,450 | |||||||||||||
| Series - 2020 2A (Class A) | ||||||||||||||||||
| 9,235,000 | g,i | OneMain Financial Issuance Trust | 1.543 | 06/16/36 | 8,730 | |||||||||||||
| Series - 2021 1A (Class A2) | ||||||||||||||||||
| 5,000,000 | g | Oportun Funding XIV LLC | 1.210 | 03/08/28 | 4,680 | |||||||||||||
| Series - 2021 A (Class A) | ||||||||||||||||||
| 552,151 | g | Orange Lake Timeshare Trust | 3.100 | 11/08/30 | 540 | |||||||||||||
| Series - 2018 A (Class A) | ||||||||||||||||||
| 7,500,000 | g,i | Palmer Square CLO Ltd | 0.000 | 04/20/35 | 7,181 | |||||||||||||
| Series - 2022 1A (Class B) | ||||||||||||||||||
| 20,500,000 | g | PFS Financing Corp | 1.270 | 06/15/25 | 19,923 | |||||||||||||
| Series - 2020 A (Class A) | ||||||||||||||||||
| 9,000,000 | g | PFS Financing Corp | 1.000 | 10/15/25 | 8,656 | |||||||||||||
| Series - 2020 E (Class A) | ||||||||||||||||||
| 9,861,000 | g | PFS Financing Corp | 0.970 | 02/15/26 | 9,361 | |||||||||||||
| Series - 2020 G (Class A) | ||||||||||||||||||
| 5,385,000 | g | Progress Residential Trust | 2.082 | 10/17/38 | 4,637 | |||||||||||||
| Series - 2021 SFR8 (Class D) | ||||||||||||||||||
| 1,450,000 | g | Progress Residential Trust | 2.711 | 11/17/40 | 1,201 | |||||||||||||
| Series - 2021 SFR9 (Class D) | ||||||||||||||||||
| 1,000,000 | g | Purchasing Power Funding LLC | 4.370 | 10/15/25 | 983 | |||||||||||||
| Series - 2021 A (Class D) | ||||||||||||||||||
| 11,247 | i | Renaissance Home Equity Loan Trust | LIBOR 1 M + 0.880% | 2.504 | 08/25/33 | 11 | ||||||||||||
| Series - 2003 2 (Class A) | ||||||||||||||||||
| 344 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 15,420,000 | Santander Drive Auto Receivables Trust | 2.220 | % | 09/15/26 | $ | 15,091 | |||||||||
| Series - 2020 2 (Class D) | ||||||||||||||||
| 3,690,000 | Santander Drive Auto Receivables Trust | 1.480 | 01/15/27 | 3,556 | ||||||||||||
| Series - 2020 4 (Class D) | ||||||||||||||||
| 34,000,000 | Santander Drive Auto Receivables Trust | 1.670 | 10/15/27 | 31,624 | ||||||||||||
| Series - 2021 4 (Class D) | ||||||||||||||||
| 20,443,500 | g | SERVPRO Master Issuer LLC | 2.394 | 04/25/51 | 17,504 | |||||||||||
| Series - 2021 1A (Class A2) | ||||||||||||||||
| 1,625,577 | g | Sierra Timeshare Receivables Funding LLC | 3.500 | 06/20/35 | 1,610 | |||||||||||
| Series - 2018 2A (Class A) | ||||||||||||||||
| 1,823,448 | g | Sierra Timeshare Receivables Funding LLC | 3.200 | 01/20/36 | 1,787 | |||||||||||
| Series - 2019 1A (Class A) | ||||||||||||||||
| 2,764,628 | g | Sierra Timeshare Receivables Funding LLC | 2.590 | 05/20/36 | 2,704 | |||||||||||
| Series - 2019 2A (Class A) | ||||||||||||||||
| 1,663,903 | g | Sierra Timeshare Receivables Funding LLC | 2.340 | 08/20/36 | 1,600 | |||||||||||
| Series - 2019 3A (Class A) | ||||||||||||||||
| 2,200,268 | g | Sierra Timeshare Receivables Funding LLC | 0.990 | 11/20/37 | 2,078 | |||||||||||
| Series - 2021 1A (Class A) | ||||||||||||||||
| 2,385,684 | g | Sierra Timeshare Receivables Funding LLC | 1.340 | 11/20/37 | 2,220 | |||||||||||
| Series - 2021 1A (Class B) | ||||||||||||||||
| 1,322,633 | g | Sierra Timeshare Receivables Funding LLC | 1.790 | 11/20/37 | 1,229 | |||||||||||
| Series - 2021 1A (Class C) | ||||||||||||||||
| 3,847,269 | g | SMB Private Education Loan Trust | 2.430 | 02/17/32 | 3,719 | |||||||||||
| Series - 2016 B (Class A2A) | ||||||||||||||||
| 6,173,806 | g | SMB Private Education Loan Trust | 2.880 | 09/15/34 | 6,040 | |||||||||||
| Series - 2017 A (Class A2A) | ||||||||||||||||
| 6,644,616 | g | SMB Private Education Loan Trust | 2.820 | 10/15/35 | 6,431 | |||||||||||
| Series - 2017 B (Class A2A) | ||||||||||||||||
| 2,929,390 | g | SMB Private Education Loan Trust | 3.500 | 02/15/36 | 2,855 | |||||||||||
| Series - 2018 A (Class A2A) | ||||||||||||||||
| 1,813,689 | g | SoFi Professional Loan Program LLC | 2.340 | 04/25/33 | 1,799 | |||||||||||
| Series - 2016 D (Class A2B) | ||||||||||||||||
| 377,902 | g | SoFi Professional Loan Program LLC | 2.400 | 03/26/40 | 377 | |||||||||||
| Series - 2017 A (Class A2B) | ||||||||||||||||
| 1,274,148 | g | SoFi Professional Loan Program LLC | 2.740 | 05/25/40 | 1,265 | |||||||||||
| Series - 2017 B (Class A2FX) | ||||||||||||||||
| 507,617 | g | SoFi Professional Loan Program LLC | 2.630 | 07/25/40 | 503 | |||||||||||
| Series - 2017 C (Class A2B) | ||||||||||||||||
| 1,499,687 | g | SoFi Professional Loan Program LLC | 2.720 | 11/26/40 | 1,495 | |||||||||||
| Series - 2017 E (Class A2B) | ||||||||||||||||
| 3,559,208 | g | SoFi Professional Loan Program LLC | 2.840 | 01/25/41 | 3,503 | |||||||||||
| Series - 2017 F (Class A2FX) | ||||||||||||||||
| 6,525,786 | g | SoFi Professional Loan Program LLC | 2.950 | 02/25/42 | 6,430 | |||||||||||
| Series - 2018 A (Class A2B) | ||||||||||||||||
| 2,365,141 | g | SoFi Professional Loan Program LLC | 3.690 | 06/15/48 | 2,329 | |||||||||||
| Series - 2019 A (Class A2FX) | ||||||||||||||||
| 5,260,218 | g | SpringCastle America Funding LLC | 1.970 | 09/25/37 | 4,884 | |||||||||||
| Series - 2020 AA (Class A) | ||||||||||||||||
| 9,021,000 | g | SpringCastle America Funding LLC | 2.660 | 09/25/37 | 8,356 | |||||||||||
| Series - 2020 AA (Class B) | ||||||||||||||||
| 6,475,000 | g | Stack Infrastructure Issuer LLC | 1.893 | 08/25/45 | 5,944 | |||||||||||
| Series - 2020 1A (Class A2) | ||||||||||||||||
| 5,875,000 | g | Stack Infrastructure Issuer LLC | 1.877 | 03/26/46 | 5,280 | |||||||||||
| Series - 2021 1A (Class A2) | ||||||||||||||||
| 345 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 139,854 | i | Structured Asset Investment Loan Trust | LIBOR 1 M + 0.900% | 2.524 | % | 09/25/34 | $ | 136 | |||||||||
| Series - 2004 8 (Class M1) | ||||||||||||||||||
| 505,994 | i | Structured Asset Investment Loan Trust | LIBOR 1 M + 1.000% | 2.624 | 09/25/34 | 499 | ||||||||||||
| Series - 2004 8 (Class A9) | ||||||||||||||||||
| 1,805,000 | g | Taco Bell Funding LLC | 4.970 | 05/25/46 | 1,793 | |||||||||||||
| Series - 2016 1A (Class A23) | ||||||||||||||||||
| 26,735,650 | g | Taco Bell Funding LLC | 1.946 | 08/25/51 | 23,292 | |||||||||||||
| Series - 2021 1A (Class A2I) | ||||||||||||||||||
| 16,327,950 | g | Taco Bell Funding LLC | 2.294 | 08/25/51 | 13,692 | |||||||||||||
| Series - 2021 1A (Class A2II) | ||||||||||||||||||
| 2,300,000 | g | Tesla Auto Lease Trust | 0.780 | 12/20/23 | 2,254 | |||||||||||||
| Series - 2020 A (Class A4) | ||||||||||||||||||
| 7,000,000 | g,i | TICP CLO VIII Ltd | LIBOR 3 M + 1.700% | 2.763 | 10/20/34 | 6,661 | ||||||||||||
| Series - 2017 8A (Class A2R) | ||||||||||||||||||
| 3,719,888 | g | Tricon American Homes Trust | 2.928 | 01/17/36 | 3,674 | |||||||||||||
| Series - 2017 SFR2 (Class A) | ||||||||||||||||||
| 1,275,000 | g | Tricon American Homes Trust | 2.049 | 07/17/38 | 1,170 | |||||||||||||
| Series - 2020 SFR1 (Class B) | ||||||||||||||||||
| 5,612,887 | Verizon Owner Trust | 1.850 | 07/22/24 | 5,596 | ||||||||||||||
| Series - 2020 A (Class A1A) | ||||||||||||||||||
| 440,000 | Verizon Owner Trust | 0.770 | 04/21/25 | 418 | ||||||||||||||
| Series - 2020 C (Class C) | ||||||||||||||||||
| 3,500,000 | g,i | Vitality Re X Ltd Series - 2020 A (Class) | U.S. Treasury Bill 3 M + 1.750% | 3.443 | 01/10/23 | 3,473 | ||||||||||||
| 19,532,700 | g | Wendy’s Funding LLC | 2.370 | 06/15/51 | 16,556 | |||||||||||||
| Series - 2021 1A (Class A2I) | ||||||||||||||||||
| TOTAL ASSET BACKED | 775,228 | |||||||||||||||||
| OTHER MORTGAGE BACKED - 11.8% | ||||||||||||||||||
| 3,000,000 | g,i | 20 Times Square Trust | 3.203 | 05/15/35 | 2,907 | |||||||||||||
| Series - 2018 20TS (Class B) | ||||||||||||||||||
| 12,000,000 | g,i | 20 TSQ GROUNDCO LLC | 3.203 | 05/15/35 | 11,282 | |||||||||||||
| Series - 2018 20TS (Class E) | ||||||||||||||||||
| 2,788,046 | g,i | ACRE Commercial Mortgage Ltd | LIBOR 1 M + 0.830% | 2.442 | 12/18/37 | 2,732 | ||||||||||||
| Series - 2021 FL4 (Class A) | ||||||||||||||||||
| 1,211,861 | g,i | Agate Bay Mortgage Trust | 3.500 | 09/25/45 | 1,149 | |||||||||||||
| Series - 2015 6 (Class A9) | ||||||||||||||||||
| 5,000,000 | g,i | Alen Mortgage Trust | LIBOR 1 M + 2.250% | 3.574 | 04/15/34 | 4,767 | ||||||||||||
| Series - 2021 ACEN (Class C) | ||||||||||||||||||
| 5,176,000 | g,i | Angel Oak Mortgage Trust | 2.837 | 11/25/66 | 4,104 | |||||||||||||
| Series - 2021 8 (Class A3) | ||||||||||||||||||
| 520,314 | g,i | Atom Mortgage Securities DAC Series - 2021 1A (Class D) | SONIA Interest Rate Benchmark + 1.900% | 0.000 | 07/22/31 | 580 | ||||||||||||
| 1,067,340 | i | BANK | 4.060 | 11/15/50 | 1,011 | |||||||||||||
| Series - 2017 BNK8 (Class B) | ||||||||||||||||||
| 2,500,000 | i | BANK | 4.204 | 11/15/50 | 2,272 | |||||||||||||
| Series - 2017 BNK8 (Class C) | ||||||||||||||||||
| 3,800,000 | BANK | 3.203 | 12/15/52 | 3,440 | ||||||||||||||
| Series - 2019 BN23 (Class AS) | ||||||||||||||||||
| 346 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 1,000,000 | i | BANK | 3.851 | % | 07/15/60 | $ | 907 | ||||||||||
| Series - 2017 BNK6 (Class C) | ||||||||||||||||||
| 1,711,243 | BANK | 2.758 | 09/15/62 | 1,557 | ||||||||||||||
| Series - 2019 BN20 (Class A2) | ||||||||||||||||||
| 8,000,000 | i | BANK | 3.283 | 11/15/62 | 7,261 | |||||||||||||
| Series - 2019 BN24 (Class AS) | ||||||||||||||||||
| 772,000 | i | BANK | 3.635 | 11/15/62 | 659 | |||||||||||||
| Series - 2019 BN24 (Class C) | ||||||||||||||||||
| 7,044,879 | g,i | Bayview MSR Opportunity Master Fund Trust | 3.000 | 10/25/51 | 6,130 | |||||||||||||
| Series - 2021 6 (Class A19) | ||||||||||||||||||
| 1,250,000 | g,i | BBCMS Mortgage Trust | 4.409 | 08/05/38 | 939 | |||||||||||||
| Series - 2018 CHRS (Class E) | ||||||||||||||||||
| 4,674,163 | BBCMS Mortgage Trust | 3.488 | 02/15/50 | 4,617 | ||||||||||||||
| Series - 2017 C1 (Class ASB) | ||||||||||||||||||
| 452,658 | i | Bear Stearns Commercial Mortgage Securities Trust | 5.214 | 02/11/41 | 447 | |||||||||||||
| Series - 2005 PWR7 (Class B) | ||||||||||||||||||
| 4,600,000 | g,i | Benchmark Mortgage Trust | 2.791 | 09/15/48 | 4,009 | |||||||||||||
| Series - 2020 IG2 (Class AM) | ||||||||||||||||||
| 2,740,000 | g,i | Benchmark Mortgage Trust | 3.231 | 09/15/48 | 2,442 | |||||||||||||
| Series - 2020 IG3 (Class AS) | ||||||||||||||||||
| 2,500,000 | g,i | Benchmark Mortgage Trust | 3.654 | 09/15/48 | 2,273 | |||||||||||||
| Series - 2020 IG3 (Class BXA) | ||||||||||||||||||
| 3,452,143 | Benchmark Mortgage Trust | 4.016 | 03/15/52 | 3,388 | ||||||||||||||
| Series - 2019 B9 (Class A5) | ||||||||||||||||||
| 1,500,000 | Benchmark Mortgage Trust | 3.419 | 08/15/52 | 1,374 | ||||||||||||||
| Series - 2019 B12 (Class AS) | ||||||||||||||||||
| 830,000 | Benchmark Mortgage Trust | 4.241 | 05/15/53 | 812 | ||||||||||||||
| Series - 2018 B7 (Class A3) | ||||||||||||||||||
| 5,921,744 | i | Benchmark Mortgage Trust | 4.510 | 05/15/53 | 5,975 | |||||||||||||
| Series - 2018 B7 (Class A4) | ||||||||||||||||||
| 1,000,000 | Benchmark Mortgage Trust | 2.355 | 07/15/54 | 799 | ||||||||||||||
| Series - 2021 B27 (Class B) | ||||||||||||||||||
| 10,000,000 | i | Benchmark Mortgage Trust | 2.244 | 08/15/54 | 7,868 | |||||||||||||
| Series - 2021 B28 (Class B) | ||||||||||||||||||
| 10,000,000 | Benchmark Mortgage Trust | 2.429 | 08/15/54 | 8,323 | ||||||||||||||
| Series - 2021 B28 (Class AS) | ||||||||||||||||||
| 3,000,000 | i | BENCHMARK Mortgage Trust | 4.334 | 02/15/51 | 2,725 | |||||||||||||
| Series - 2018 B2 (Class C) | ||||||||||||||||||
| 9,500,000 | BMARK A5 | 2.612 | 09/15/54 | 8,035 | ||||||||||||||
| Series - 2021 B29 (Class AS) | ||||||||||||||||||
| 2,360,000 | g | BWAY Mortgage Trust | 3.402 | 02/10/44 | 2,075 | |||||||||||||
| Series - 2022 26BW (Class A) | ||||||||||||||||||
| 5,000,000 | g,i | BX Commercial Mortgage Trust | LIBOR 1 M + 0.921% | 2.245 | 12/15/38 | 4,849 | ||||||||||||
| Series - 2021 CIP (Class A) | ||||||||||||||||||
| 7,500,000 | g,i | BX Commercial Mortgage Trust | LIBOR 1 M + 1.271% | 2.595 | 12/15/38 | 7,161 | ||||||||||||
| Series - 2021 CIP (Class B) | ||||||||||||||||||
| 1,325,000 | g | BXP Trust | 3.459 | 08/13/37 | 1,251 | |||||||||||||
| Series - 2017 CC (Class A) | ||||||||||||||||||
| 5,000,000 | g | BXP Trust | 2.618 | 01/15/44 | 4,095 | |||||||||||||
| Series - 2021 601L (Class A) | ||||||||||||||||||
| 15,000,000 | g,i | BXP Trust | 2.868 | 01/15/44 | 11,385 | |||||||||||||
| Series - 2021 601L (Class C) | ||||||||||||||||||
| 8,000,000 | g,i | BXP Trust | 2.868 | 01/15/44 | 5,724 | |||||||||||||
| Series - 2021 601L (Class D) | ||||||||||||||||||
| 347 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 4,347,358 | CD Mortgage Trust | 2.622 | % | 08/10/49 | $ | 4,237 | |||||||||||
| Series - 2016 CD1 (Class ASB) | ||||||||||||||||||
| 9,000,000 | CD Mortgage Trust | 2.926 | 08/10/49 | 8,403 | ||||||||||||||
| Series - 2016 CD1 (Class AM) | ||||||||||||||||||
| 5,750,000 | i | CD Mortgage Trust | 3.879 | 11/10/49 | 5,353 | |||||||||||||
| Series - 2016 CD2 (Class B) | ||||||||||||||||||
| 1,000,000 | i | CD Mortgage Trust | 4.114 | 11/10/49 | 882 | |||||||||||||
| Series - 2016 CD2 (Class C) | ||||||||||||||||||
| 904,376 | CD Mortgage Trust | 3.453 | 02/10/50 | 893 | ||||||||||||||
| Series - 2017 CD3 (Class AAB) | ||||||||||||||||||
| 500,000 | i | CD Mortgage Trust | 4.699 | 02/10/50 | 454 | |||||||||||||
| Series - 2017 CD3 (Class C) | ||||||||||||||||||
| 5,000,000 | CD Mortgage Trust | 3.220 | 08/15/50 | 4,905 | ||||||||||||||
| Series - 2017 CD5 (Class AAB) | ||||||||||||||||||
| 3,457,000 | CD Mortgage Trust | 2.812 | 08/15/57 | 3,253 | ||||||||||||||
| Series - 2019 CD8 (Class ASB) | ||||||||||||||||||
| 904,426 | CFCRE Commercial Mortgage Trust | 3.121 | 05/10/58 | 818 | ||||||||||||||
| Series - 2016 C4 (Class AHR) | ||||||||||||||||||
| 436,854 | i | CHL Mortgage Pass-Through Trust | 2.520 | 02/20/35 | 437 | |||||||||||||
| Series - 2004 HYB9 (Class 1A1) | ||||||||||||||||||
| 2,500,000 | g,i | Citigroup Commercial Mortgage Trust | 3.635 | 05/10/35 | 2,420 | |||||||||||||
| Series - 2013 375P (Class B) | ||||||||||||||||||
| 5,750,000 | g | Citigroup Commercial Mortgage Trust | 3.341 | 05/10/36 | 5,686 | |||||||||||||
| Series - 2019 PRM (Class A) | ||||||||||||||||||
| 1,054,000 | i | Citigroup Commercial Mortgage Trust | 3.732 | 04/10/46 | 1,046 | |||||||||||||
| Series - 2013 GC11 (Class B) | ||||||||||||||||||
| 2,400,000 | Citigroup Commercial Mortgage Trust | 4.023 | 03/10/47 | 2,394 | ||||||||||||||
| Series - 2014 GC19 (Class A4) | ||||||||||||||||||
| 1,700,000 | i | Citigroup Commercial Mortgage Trust | 3.758 | 04/10/48 | 1,641 | |||||||||||||
| Series - 2015 GC29 (Class B) | ||||||||||||||||||
| 3,000,000 | i | Citigroup Commercial Mortgage Trust | 4.279 | 04/10/48 | 2,835 | |||||||||||||
| Series - 2015 GC29 (Class C) | ||||||||||||||||||
| 5,300,000 | Citigroup Commercial Mortgage Trust | 3.243 | 08/15/50 | 5,183 | ||||||||||||||
| Series - 2017 B1 (Class AAB) | ||||||||||||||||||
| 6,765,000 | Citigroup Commercial Mortgage Trust | 3.764 | 10/12/50 | 6,352 | ||||||||||||||
| Series - 2017 C4 (Class AS) | ||||||||||||||||||
| 2,000,000 | Citigroup Commercial Mortgage Trust | 3.778 | 09/10/58 | 1,981 | ||||||||||||||
| Series - 2015 GC33 (Class A4) | ||||||||||||||||||
| 172,625 | i | Citigroup Mortgage Loan Trust | LIBOR 1 M + 0.750% | 2.374 | 01/25/36 | 173 | ||||||||||||
| Series - 2006 WFH1 (Class M4) | ||||||||||||||||||
| 5,000,000 | g | COMM Mortgage Trust | 3.244 | 10/10/29 | 4,817 | |||||||||||||
| Series - 2017 PANW (Class A) | ||||||||||||||||||
| 3,000,000 | g | COMM Mortgage Trust | 3.376 | 01/10/39 | 2,722 | |||||||||||||
| Series - 2022 HC (Class C) | ||||||||||||||||||
| 1,847,243 | i | COMM Mortgage Trust | 4.411 | 07/10/45 | 1,843 | |||||||||||||
| Series - 2013 CR9 (Class A4) | ||||||||||||||||||
| 3,181,077 | COMM Mortgage Trust | 2.853 | 10/15/45 | 3,171 | ||||||||||||||
| Series - 2012 CR4 (Class A3) | ||||||||||||||||||
| 1,185,000 | g | COMM Mortgage Trust | 3.147 | 03/10/46 | 1,172 | |||||||||||||
| Series - 2013 CR6 (Class AM) | ||||||||||||||||||
| 4,197,221 | g,i | COMM Mortgage Trust | 4.057 | 06/10/46 | 4,159 | |||||||||||||
| Series - 2013 CR8 (Class B) | ||||||||||||||||||
| 348 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 5,000,000 | g,i | COMM Mortgage Trust | 5.063 | % | 08/10/46 | $ | 4,935 | ||||||||
| Series - 2013 CR10 (Class C) | ||||||||||||||||
| 2,000,000 | g,i | COMM Mortgage Trust | 5.063 | 08/10/46 | 1,990 | |||||||||||
| Series - 2013 CR10 (Class B) | ||||||||||||||||
| 3,000,000 | COMM Mortgage Trust | 4.199 | 03/10/47 | 2,975 | ||||||||||||
| Series - 2014 UBS2 (Class AM) | ||||||||||||||||
| 750,000 | COMM Mortgage Trust | 4.174 | 05/10/47 | 743 | ||||||||||||
| Series - 2014 CR17 (Class AM) | ||||||||||||||||
| 2,500,000 | g,i | COMM Mortgage Trust | 4.926 | 06/10/47 | 2,264 | |||||||||||
| Series - 2014 UBS3 (Class D) | ||||||||||||||||
| 5,240,000 | COMM Mortgage Trust | 3.917 | 10/10/47 | 5,200 | ||||||||||||
| Series - 2014 LC17 (Class A5) | ||||||||||||||||
| 5,205,000 | i | COMM Mortgage Trust | 4.188 | 10/10/47 | 5,151 | |||||||||||
| Series - 2014 LC17 (Class AM) | ||||||||||||||||
| 2,288,546 | i | COMM Mortgage Trust | 4.490 | 10/10/47 | 2,234 | |||||||||||
| Series - 2014 LC17 (Class B) | ||||||||||||||||
| 2,825,979 | i | COMM Mortgage Trust | 3.829 | 02/10/48 | 2,740 | |||||||||||
| Series - 2015 LC19 (Class B) | ||||||||||||||||
| 1,000,000 | g | COMM Mortgage Trust | 3.000 | 03/10/48 | 816 | |||||||||||
| Series - 2015 CR22 (Class E) | ||||||||||||||||
| 1,445,000 | COMM Mortgage Trust | 3.309 | 03/10/48 | 1,410 | ||||||||||||
| Series - 2015 CR22 (Class A5) | ||||||||||||||||
| 3,382,775 | i | COMM Mortgage Trust | 3.603 | 03/10/48 | 3,307 | |||||||||||
| Series - 2015 CR22 (Class AM) | ||||||||||||||||
| 2,000,000 | i | COMM Mortgage Trust | 3.926 | 03/10/48 | 1,920 | |||||||||||
| Series - 2015 CR22 (Class B) | ||||||||||||||||
| 2,175,000 | i | COMM Mortgage Trust | 4.207 | 03/10/48 | 2,056 | |||||||||||
| Series - 2015 CR22 (Class C) | ||||||||||||||||
| 7,380,000 | COMM Mortgage Trust | 3.801 | 05/10/48 | 7,209 | ||||||||||||
| Series - 2015 CR23 (Class AM) | ||||||||||||||||
| 4,500,000 | i | COMM Mortgage Trust | 4.183 | 05/10/48 | 4,349 | |||||||||||
| Series - 2015 CR23 (Class B) | ||||||||||||||||
| 2,549,000 | i | COMM Mortgage Trust | 4.428 | 05/10/48 | 2,411 | |||||||||||
| Series - 2015 CR23 (Class C) | ||||||||||||||||
| 2,877,518 | COMM Mortgage Trust | 3.421 | 07/10/48 | 2,863 | ||||||||||||
| Series - 2015 LC21 (Class ASB) | ||||||||||||||||
| 4,000,000 | i | COMM Mortgage Trust | 3.463 | 08/10/48 | 3,454 | |||||||||||
| Series - 2015 CR24 (Class D) | ||||||||||||||||
| 2,550,000 | COMM Mortgage Trust | 3.696 | 08/10/48 | 2,509 | ||||||||||||
| Series - 2015 CR24 (Class A5) | ||||||||||||||||
| 5,000,000 | i | COMM Mortgage Trust | 4.028 | 08/10/48 | 4,900 | |||||||||||
| Series - 2015 CR24 (Class AM) | ||||||||||||||||
| 2,000,000 | i | COMM Mortgage Trust | 4.522 | 08/10/48 | 1,952 | |||||||||||
| Series - 2015 CR24 (Class B) | ||||||||||||||||
| 1,467,000 | i | COMM Mortgage Trust | 4.522 | 08/10/48 | 1,384 | |||||||||||
| Series - 2015 CR24 (Class C) | ||||||||||||||||
| 1,352,000 | COMM Mortgage Trust | 3.612 | 10/10/48 | 1,326 | ||||||||||||
| Series - 2015 CR27 (Class A4) | ||||||||||||||||
| 3,212,210 | COMM Mortgage Trust | 3.630 | 10/10/48 | 3,149 | ||||||||||||
| Series - 2015 CR26 (Class A4) | ||||||||||||||||
| 1,575,000 | COMM Mortgage Trust | 3.774 | 10/10/48 | 1,550 | ||||||||||||
| Series - 2015 LC23 (Class A4) | ||||||||||||||||
| 1,875,000 | i | COMM Mortgage Trust | 4.621 | 10/10/48 | 1,839 | |||||||||||
| Series - 2015 CR26 (Class B) | ||||||||||||||||
| 349 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 4,855,000 | i | COMM Mortgage Trust | 4.758 | % | 10/10/48 | $ | 4,623 | ||||||||||
| Series - 2015 LC23 (Class C) | ||||||||||||||||||
| 1,012,957 | COMM Mortgage Trust | 3.651 | 02/10/49 | 992 | ||||||||||||||
| Series - 2016 CR28 (Class AHR) | ||||||||||||||||||
| 4,650,000 | i | COMM Mortgage Trust | 4.773 | 02/10/49 | 4,548 | |||||||||||||
| Series - 2016 CR28 (Class B) | ||||||||||||||||||
| 6,500,000 | COMM Mortgage Trust | 3.263 | 08/15/57 | 5,833 | ||||||||||||||
| Series - 2019 GC44 (Class AM) | ||||||||||||||||||
| 2,000,000 | i | COMM Mortgage Trust | 3.643 | 08/15/57 | 1,692 | |||||||||||||
| Series - 2019 GC44 (Class C) | ||||||||||||||||||
| 2,600,000 | i | COMM MORTGAGE TRUST | 4.493 | 05/10/51 | 2,536 | |||||||||||||
| Series - 2018 COR3 (Class AM) | ||||||||||||||||||
| 10,122,337 | i | Connecticut Avenue Securities | LIBOR 1 M + 2.600% | 4.224 | 05/25/24 | 10,084 | ||||||||||||
| Series - 2014 C02 (Class 1M2) | ||||||||||||||||||
| 5,893,053 | i | Connecticut Avenue Securities | LIBOR 1 M + 3.000% | 4.624 | 07/25/24 | 5,871 | ||||||||||||
| Series - 2014 C03 (Class 1M2) | ||||||||||||||||||
| 2,105,000 | g,i | Connecticut Avenue Securities Trust | 2.476 | 10/25/41 | 1,952 | |||||||||||||
| Series - 2021 R01 (Class 1M2) | ||||||||||||||||||
| 1,870,000 | g,i | Connecticut Avenue Securities Trust | 4.226 | 11/25/41 | 1,599 | |||||||||||||
| Series - 2021 R02 (Class 2B1) | ||||||||||||||||||
| 3,070,000 | g,i | Connecticut Avenue Securities Trust | 3.676 | 12/25/41 | 2,576 | |||||||||||||
| Series - 2021 R03 (Class 1B1) | ||||||||||||||||||
| 6,625,000 | g,i | Connecticut Avenue Securities Trust | 4.426 | 03/25/42 | 6,303 | |||||||||||||
| Series - 2022 R03 (Class 1M2) | ||||||||||||||||||
| 4,990,000 | g,i | Connecticut Avenue Securities Trust | 3.926 | 04/25/42 | 4,743 | |||||||||||||
| Series - 2022 R05 (Class 2M2) | ||||||||||||||||||
| 7,400,000 | g,i | Credit Suisse Commercial Mortgage Trust | 3.854 | 11/10/32 | 7,091 | |||||||||||||
| Series - 2017 CALI (Class B) | ||||||||||||||||||
| 1,910,000 | g,i | Credit Suisse Mortgage Capital Certificates | LIBOR 1 M + 1.600% | 2.924 | 05/15/36 | 1,857 | ||||||||||||
| Series - 2019 ICE4 (Class D) | ||||||||||||||||||
| 8,928,571 | g,i | Credit Suisse Mortgage Capital Certificates | 2.405 | 10/25/66 | 7,909 | |||||||||||||
| Series - 2021 NQM8 (Class A3) | ||||||||||||||||||
| 4,270,400 | g,i | CSMC Series | 3.388 | 10/25/59 | 3,896 | |||||||||||||
| Series - 2019 NQM1 (Class M1) | ||||||||||||||||||
| 9,250,000 | DBGS Mortgage Trust | 4.466 | 10/15/51 | 9,311 | ||||||||||||||
| Series - 2018 C1 (Class A4) | ||||||||||||||||||
| 9,155,742 | DBJPM Mortgage Trust | 2.756 | 08/10/49 | 8,941 | ||||||||||||||
| Series - 2016 C3 (Class ASB) | ||||||||||||||||||
| 9,834,253 | DBJPM Mortgage Trust | 3.121 | 06/10/50 | 9,618 | ||||||||||||||
| Series - 2017 C6 (Class ASB) | ||||||||||||||||||
| 5,300,000 | DBJPM Mortgage Trust | 2.340 | 08/15/53 | 4,351 | ||||||||||||||
| Series - 2020 C9 (Class AM) | ||||||||||||||||||
| 17,410,000 | g | DBUBS Mortgage Trust | 3.452 | 10/10/34 | 16,912 | |||||||||||||
| Series - 2017 BRBK (Class A) | ||||||||||||||||||
| 15,500,000 | g,i | DBUBS Mortgage Trust | 3.648 | 10/10/34 | 14,957 | |||||||||||||
| Series - 2017 BRBK (Class B) | ||||||||||||||||||
| 5,000,000 | g,i | ELP Commercial Mortgage Trust | LIBOR 1 M + 1.120% | 2.445 | 11/15/38 | 4,774 | ||||||||||||
| Series - 2021 ELP (Class B) | ||||||||||||||||||
| 7,000,000 | g,i | ELP Commercial Mortgage Trust | LIBOR 1 M + 1.320% | 2.645 | 11/15/38 | 6,675 | ||||||||||||
| Series - 2021 ELP (Class C) | ||||||||||||||||||
| 6,870,000 | g,i | ELP Commercial Mortgage Trust | LIBOR 1 M + 2.118% | 3.443 | 11/15/38 | 6,493 | ||||||||||||
| Series - 2021 ELP (Class E) | ||||||||||||||||||
| 350 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 5,000,000 | g,i | EQUS Mortgage Trust | LIBOR 1 M + 0.755% | 2.079 | % | 10/15/38 | $ | 4,774 | |||||||||
| Series - 2021 EQAZ (Class A) | ||||||||||||||||||
| 4,730,000 | g,i | EQUS Mortgage Trust | LIBOR 1 M + 2.300% | 3.624 | 10/15/38 | 4,374 | ||||||||||||
| Series - 2021 EQAZ (Class E) | ||||||||||||||||||
| 2,460,172 | g,i | Flagstar Mortgage Trust | 4.049 | 10/25/47 | 2,364 | |||||||||||||
| Series - 2017 2 (Class B3) | ||||||||||||||||||
| 172,628 | g,i | Flagstar Mortgage Trust | 4.000 | 09/25/48 | 170 | |||||||||||||
| Series - 2018 5 (Class A11) | ||||||||||||||||||
| 3,387,625 | g,i | Flagstar Mortgage Trust | 2.500 | 04/25/51 | 2,831 | |||||||||||||
| Series - 2021 2 (Class A4) | ||||||||||||||||||
| 9,706,236 | g,i | Flagstar Mortgage Trust | 2.500 | 06/01/51 | 8,105 | |||||||||||||
| Series - 2021 4 (Class A21) | ||||||||||||||||||
| 29,633,199 | g,i | Flagstar Mortgage Trust | 3.000 | 10/25/51 | 26,324 | |||||||||||||
| Series - 2021 10IN (Class A1) | ||||||||||||||||||
| 5,725,000 | g,i | Freddie Mac STACR REMIC Trust | 2.976 | 12/25/33 | 5,102 | |||||||||||||
| Series - 2021 HQA2 (Class M2) | ||||||||||||||||||
| 11,613,637 | g,i | Freddie Mac STACR REMIC Trust | 2.576 | 01/25/34 | 11,198 | |||||||||||||
| Series - 2021 DNA5 (Class M2) | ||||||||||||||||||
| 6,030,000 | g,i | Freddie Mac STACR REMIC Trust | 3.426 | 01/25/42 | 5,105 | |||||||||||||
| Series - 2022 DNA1 (Class M2) | ||||||||||||||||||
| 12,770,991 | g,i | Freddie Mac STACR REMIC Trust | 3.826 | 04/25/42 | 12,005 | |||||||||||||
| Series - 2022 DNA3 (Class M1B) | ||||||||||||||||||
| 750,000 | g,i | FREMF Mortgage Trust | 4.161 | 03/25/49 | 741 | |||||||||||||
| Series - 2016 K53 (Class B) | ||||||||||||||||||
| 900,000 | g,i | Frost CMBS DAC Series - 2021 1A (Class GBD) | SONIA Interest Rate Benchmark + 2.900% | 0.000 | 11/22/26 | 1,049 | ||||||||||||
| 4,430,000 | g | GS Mortgage Securities Corp II | 2.954 | 11/05/34 | 4,395 | |||||||||||||
| Series - 2012 BWTR (Class A) | ||||||||||||||||||
| 5,000,000 | g,i | GS Mortgage Securities Corp II | LIBOR 1 M + 1.250% | 2.574 | 11/15/36 | 4,879 | ||||||||||||
| Series - 2021 ARDN (Class A) | ||||||||||||||||||
| 2,600,000 | g,i | GS Mortgage Securities Corp II | LIBOR 1 M + 3.350% | 4.674 | 11/15/36 | 2,462 | ||||||||||||
| Series - 2021 ARDN (Class E) | ||||||||||||||||||
| 1,130,000 | g,i | GS Mortgage Securities Corp II | 3.591 | 09/10/37 | 1,059 | |||||||||||||
| Series - 2017 375H (Class A) | ||||||||||||||||||
| 2,500,000 | g,i | GS Mortgage Securities Corp II | 3.599 | 09/10/37 | 2,289 | |||||||||||||
| Series - 2017 375H (Class B) | ||||||||||||||||||
| 1,350,000 | i | GS Mortgage Securities Corp II | 3.777 | 05/10/50 | 1,316 | |||||||||||||
| Series - 2015 GC30 (Class AS) | ||||||||||||||||||
| 5,235,000 | g,i | GS Mortgage Securities Corp Trust | LIBOR 1 M + 1.600% | 2.924 | 07/15/31 | 4,964 | ||||||||||||
| Series - 2018 TWR (Class D) | ||||||||||||||||||
| 2,000,000 | g,i | GS Mortgage Securities Trust | LIBOR 1 M + 1.450% | 2.774 | 07/15/31 | 1,918 | ||||||||||||
| Series - 2018 TWR (Class C) | ||||||||||||||||||
| 783,709 | GS Mortgage Securities Trust | 3.206 | 02/10/48 | 773 | ||||||||||||||
| Series - 2015 GC28 (Class AAB) | ||||||||||||||||||
| 2,816,500 | GS Mortgage Securities Trust | 3.396 | 02/10/48 | 2,765 | ||||||||||||||
| Series - 2015 GC28 (Class A5) | ||||||||||||||||||
| 7,400,000 | i | GS Mortgage Securities Trust | 4.018 | 07/10/48 | 7,252 | |||||||||||||
| Series - 2015 GC32 (Class AS) | ||||||||||||||||||
| 2,469,123 | GS Mortgage Securities Trust | 3.278 | 10/10/48 | 2,439 | ||||||||||||||
| Series - 2015 GC34 (Class AAB) | ||||||||||||||||||
| 2,000,000 | GS Mortgage Securities Trust | 3.143 | 10/10/49 | 1,882 | ||||||||||||||
| Series - 2016 GS3 (Class AS) | ||||||||||||||||||
| 351 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 1,500,000 | i | GS Mortgage Securities Trust | 4.080 | % | 11/10/49 | $ | 1,330 | ||||||||
| Series - 2016 GS4 (Class C) | ||||||||||||||||
| 2,000,000 | GS Mortgage Securities Trust | 3.674 | 03/10/50 | 1,945 | ||||||||||||
| Series - 2017 GS5 (Class A4) | ||||||||||||||||
| 4,150,000 | i | GS Mortgage Securities Trust | 3.826 | 03/10/50 | 4,003 | |||||||||||
| Series - 2017 GS5 (Class AS) | ||||||||||||||||
| 11,798,977 | GS Mortgage Securities Trust | 3.230 | 05/10/50 | 11,594 | ||||||||||||
| Series - 2017 GS6 (Class AAB) | ||||||||||||||||
| 6,000,000 | GS Mortgage Securities Trust | 3.433 | 05/10/50 | 5,778 | ||||||||||||
| Series - 2017 GS6 (Class A3) | ||||||||||||||||
| 2,540,000 | i | GS Mortgage Securities Trust | 4.161 | 05/10/50 | 2,448 | |||||||||||
| Series - 2015 GC30 (Class B) | ||||||||||||||||
| 4,061,000 | i | GS Mortgage Securities Trust | 4.205 | 05/10/50 | 3,863 | |||||||||||
| Series - 2015 GC30 (Class C) | ||||||||||||||||
| 3,000,000 | GS Mortgage Securities Trust | 3.837 | 11/10/50 | 2,918 | ||||||||||||
| Series - 2017 GS8 (Class ABP) | ||||||||||||||||
| 4,844,000 | i | GS Mortgage Securities Trust | 4.479 | 11/10/50 | 4,446 | |||||||||||
| Series - 2017 GS8 (Class C) | ||||||||||||||||
| 3,050,000 | i | GS Mortgage Securities Trust | 4.158 | 02/10/52 | 2,953 | |||||||||||
| Series - 2019 GC38 (Class AS) | ||||||||||||||||
| 2,500,000 | i | GS Mortgage Securities Trust | 3.173 | 02/13/53 | 2,250 | |||||||||||
| Series - 2020 GC45 (Class AS) | ||||||||||||||||
| 572,037 | g,i | GS Mortgage-Backed Securities Corp Trust | 4.000 | 11/25/49 | 563 | |||||||||||
| Series - 2019 PJ2 (Class A4) | ||||||||||||||||
| 218,987 | g,i | GS Mortgage-Backed Securities Corp Trust | 4.000 | 11/25/49 | 215 | |||||||||||
| Series - 2019 PJ2 (Class A1) | ||||||||||||||||
| 1,099,798 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.500 | 07/25/50 | 1,014 | |||||||||||
| Series - 2020 PJ2 (Class A4) | ||||||||||||||||
| 1,007,553 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.000 | 01/25/51 | 892 | |||||||||||
| Series - 2020 PJ4 (Class A4) | ||||||||||||||||
| 767,783 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.000 | 03/27/51 | 674 | |||||||||||
| Series - 2020 PJ5 (Class A4) | ||||||||||||||||
| 1,961,068 | g,i | GS Mortgage-Backed Securities Corp Trust | 2.500 | 05/25/51 | 1,643 | |||||||||||
| Series - 2020 PJ6 (Class A4) | ||||||||||||||||
| 6,599,872 | g,i | GS Mortgage-Backed Securities Corp Trust | 2.500 | 10/25/51 | 5,521 | |||||||||||
| Series - 2021 PJ5 (Class A4) | ||||||||||||||||
| 12,941,075 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.000 | 06/25/52 | 11,457 | |||||||||||
| Series - 2022 PJ2 (Class A36) | ||||||||||||||||
| 4,681,105 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.000 | 09/25/52 | 4,099 | |||||||||||
| Series - 2022 PJ4 (Class A36) | ||||||||||||||||
| 1,055,724 | g,i | GS Mortgage-Backed Securities Trust | 3.642 | 05/25/50 | 935 | |||||||||||
| Series - 2020 PJ1 (Class B2) | ||||||||||||||||
| 2,538,368 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 07/25/51 | 2,125 | |||||||||||
| Series - 2021 PJ2 (Class A4) | ||||||||||||||||
| 18,967,656 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 11/25/51 | 15,834 | |||||||||||
| Series - 2021 PJ6 (Class A4) | ||||||||||||||||
| 22,922,130 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 01/25/52 | 19,147 | |||||||||||
| Series - 2021 PJ7 (Class A4) | ||||||||||||||||
| 10,812,180 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 01/25/52 | 9,050 | |||||||||||
| Series - 2021 PJ8 (Class A4) | ||||||||||||||||
| 7,977,846 | g,i | GS Mortgage-Backed Securities Trust | 3.000 | 07/25/52 | 6,922 | |||||||||||
| Series - 2022 INV1 (Class A4) | ||||||||||||||||
| 9,994,774 | g,i | GS Mortgage-Backed Securities Trust | 3.000 | 09/25/52 | 8,673 | |||||||||||
| Series - 2022 HP1 (Class A4) | ||||||||||||||||
| 352 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 7,410,353 | g,i | GS Mortgage-Backed Securities Trust | 3.000 | % | 10/25/52 | $ | 6,448 | ||||||||||
| Series - 2022 PJ5 (Class A36) | ||||||||||||||||||
| 1,847,589 | i | HarborView Mortgage Loan Trust | LIBOR 1 M + 0.620% | 2.232 | 08/19/45 | 1,721 | ||||||||||||
| Series - 2005 11 (Class 2A1A) | ||||||||||||||||||
| 6,000,000 | g | Hudson Yards Mortgage Trust | 2.835 | 08/10/38 | 5,550 | |||||||||||||
| Series - 2016 10HY (Class A) | ||||||||||||||||||
| 2,500,000 | g,i | Hudson Yards Mortgage Trust | 3.076 | 08/10/38 | 2,312 | |||||||||||||
| Series - 2016 10HY (Class B) | ||||||||||||||||||
| 7,250,000 | g,i | Hudson Yards Mortgage Trust | 3.076 | 08/10/38 | 6,593 | |||||||||||||
| Series - 2016 10HY (Class C) | ||||||||||||||||||
| 5,500,000 | g,i | Hudson Yards Mortgage Trust | 3.041 | 12/10/41 | 4,582 | |||||||||||||
| Series - 2019 55HY (Class D) | ||||||||||||||||||
| 2,750,000 | g,i | Hudson Yards Mortgage Trust | 3.041 | 12/10/41 | 2,198 | |||||||||||||
| Series - 2019 55HY (Class E) | ||||||||||||||||||
| 310,465 | i | Impac CMB Trust | LIBOR 1 M + 0.660% | 2.284 | 03/25/35 | 301 | ||||||||||||
| Series - 2004 11 (Class 2A1) | ||||||||||||||||||
| 3,505,438 | g,i | Imperial Fund Mortgage Trust | 2.051 | 10/25/55 | 3,334 | |||||||||||||
| Series - 2020 NQM1 (Class A3) | ||||||||||||||||||
| 1,043,500 | g,i | Imperial Fund Mortgage Trust | 3.531 | 10/25/55 | 963 | |||||||||||||
| Series - 2020 NQM1 (Class M1) | ||||||||||||||||||
| 8,084,848 | g,i | J.P. Morgan Mortgage Trust | 3.000 | 09/25/52 | 7,062 | |||||||||||||
| Series - 2022 INV3 (Class A6) | ||||||||||||||||||
| 1,000,000 | g,i | JP Morgan Chase Commercial Mortgage Securities Corp | 4.767 | 07/05/31 | 973 | |||||||||||||
| Series - 2018 AON (Class D) | ||||||||||||||||||
| 136,627 | g,i | JP Morgan Chase Commercial Mortgage Securities Corp | 5.604 | 07/15/46 | 136 | |||||||||||||
| Series - 2011 C4 (Class C) | ||||||||||||||||||
| 2,800,000 | JP Morgan Chase Commercial Mortgage Securities Corp | 3.372 | 12/15/47 | 2,779 | ||||||||||||||
| Series - 2013 C10 (Class AS) | ||||||||||||||||||
| 1,780,000 | JP Morgan Chase Commercial Mortgage Securities Corp | 3.914 | 01/15/49 | 1,763 | ||||||||||||||
| Series - 2015 JP1 (Class A5) | ||||||||||||||||||
| 750,000 | i | JP Morgan Chase Commercial Mortgage Securities Corp | 4.119 | 01/15/49 | 734 | |||||||||||||
| Series - 2015 JP1 (Class AS) | ||||||||||||||||||
| 5,475,478 | JP Morgan Chase Commercial Mortgage Securities Corp | 2.713 | 08/15/49 | 5,336 | ||||||||||||||
| Series - 2016 JP2 (Class ASB) | ||||||||||||||||||
| 4,500,000 | JP Morgan Chase Commercial Mortgage Securities Corp | 3.379 | 09/15/50 | 4,409 | ||||||||||||||
| Series - 2017 JP7 (Class A3) | ||||||||||||||||||
| 3,155,000 | g | JP Morgan Chase Commercial Mortgage Securities Trust | 3.065 | 01/16/37 | 2,956 | |||||||||||||
| Series - 2020 NNN (Class BFX) | ||||||||||||||||||
| 260,000 | i | JP Morgan Chase Commercial Mortgage Securities Trust | 4.212 | 01/15/46 | 259 | |||||||||||||
| Series - 2013 C13 (Class AS) | ||||||||||||||||||
| 4,668,245 | g,i | JP Morgan Mortgage Trust | LIBOR 1 M - 0.000% | 2.174 | 12/25/44 | 4,613 | ||||||||||||
| Series - 2015 1 (Class B1) | ||||||||||||||||||
| 353 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 244,883 | g,i | JP Morgan Mortgage Trust | 3.500 | % | 05/25/45 | $ | 233 | ||||||||||
| Series - 2015 3 (Class A19) | ||||||||||||||||||
| 2,438,505 | g,i | JP Morgan Mortgage Trust | 3.500 | 10/25/45 | 2,259 | |||||||||||||
| Series - 2015 6 (Class A13) | ||||||||||||||||||
| 453,891 | g,i | JP Morgan Mortgage Trust | 3.500 | 05/25/46 | 430 | |||||||||||||
| Series - 2016 1 (Class A13) | ||||||||||||||||||
| 1,221,666 | g,i | JP Morgan Mortgage Trust | 3.500 | 05/25/47 | 1,152 | |||||||||||||
| Series - 2017 2 (Class A13) | ||||||||||||||||||
| 1,867,059 | g,i | JP Morgan Mortgage Trust | 3.500 | 09/25/48 | 1,720 | |||||||||||||
| Series - 2018 3 (Class A13) | ||||||||||||||||||
| 743,842 | g,i | JP Morgan Mortgage Trust | 3.500 | 10/25/48 | 688 | |||||||||||||
| Series - 2018 4 (Class A13) | ||||||||||||||||||
| 3,197,109 | g,i | JP Morgan Mortgage Trust | 3.500 | 10/25/48 | 2,955 | |||||||||||||
| Series - 2018 5 (Class A13) | ||||||||||||||||||
| 2,099,350 | g,i | JP Morgan Mortgage Trust | 3.053 | 10/26/48 | 2,059 | |||||||||||||
| Series - 2017 5 (Class A2) | ||||||||||||||||||
| 300,661 | g,i | JP Morgan Mortgage Trust | 4.000 | 01/25/49 | 294 | |||||||||||||
| Series - 2018 8 (Class A13) | ||||||||||||||||||
| 800,868 | g,i | JP Morgan Mortgage Trust | 4.000 | 02/25/49 | 782 | |||||||||||||
| Series - 2018 9 (Class A13) | ||||||||||||||||||
| 442,668 | g,i | JP Morgan Mortgage Trust | 4.000 | 05/25/49 | 434 | |||||||||||||
| Series - 2019 1 (Class A3) | ||||||||||||||||||
| 812,488 | g,i | JP Morgan Mortgage Trust | 4.000 | 05/25/49 | 797 | |||||||||||||
| Series - 2019 1 (Class A15) | ||||||||||||||||||
| 1,519,383 | g,i | JP Morgan Mortgage Trust | LIBOR 1 M + 0.950% | 2.574 | 10/25/49 | 1,500 | ||||||||||||
| Series - 2019 INV1 (Class A11) | ||||||||||||||||||
| 6,793,057 | g,i | JP Morgan Mortgage Trust | 3.852 | 06/25/50 | 6,112 | |||||||||||||
| Series - 2020 1 (Class B2) | ||||||||||||||||||
| 10,460,416 | g,i | JP Morgan Mortgage Trust | 2.500 | 10/25/51 | 8,755 | |||||||||||||
| Series - 2021 6 (Class A15) | ||||||||||||||||||
| 5,609,529 | g,i | JP Morgan Mortgage Trust | 2.500 | 11/25/51 | 4,695 | |||||||||||||
| Series - 2021 7 (Class A15) | ||||||||||||||||||
| 6,839,682 | g,i | JP Morgan Mortgage Trust | 2.500 | 12/25/51 | 5,726 | |||||||||||||
| Series - 2021 8 (Class A15) | ||||||||||||||||||
| 2,636,390 | g,i | JP Morgan Mortgage Trust | 2.500 | 12/25/51 | 2,206 | |||||||||||||
| Series - 2021 10 (Class A15) | ||||||||||||||||||
| 9,295,217 | g,i | JP Morgan Mortgage Trust | 2.500 | 01/25/52 | 7,774 | |||||||||||||
| Series - 2021 11 (Class A15) | ||||||||||||||||||
| 2,717,541 | g,i | JP Morgan Mortgage Trust | 2.500 | 02/25/52 | 2,274 | |||||||||||||
| Series - 2021 12 (Class A15) | ||||||||||||||||||
| 9,132,739 | g,i | JP Morgan Mortgage Trust | 3.350 | 04/25/52 | 7,608 | |||||||||||||
| Series - 2021 INV6 (Class B1) | ||||||||||||||||||
| 5,843,968 | g,i | JP Morgan Mortgage Trust | 3.350 | 04/25/52 | 4,788 | |||||||||||||
| Series - 2021 INV6 (Class B2) | ||||||||||||||||||
| 4,194,302 | g,i | JP Morgan Mortgage Trust | 2.500 | 05/25/52 | 3,502 | |||||||||||||
| Series - 2021 14 (Class A15) | ||||||||||||||||||
| 11,893,855 | g,i | JP Morgan Mortgage Trust | 2.500 | 06/25/52 | 9,931 | |||||||||||||
| Series - 2021 15 (Class A15) | ||||||||||||||||||
| 18,239,349 | g,i | JP Morgan Mortgage Trust | 3.000 | 08/25/52 | 16,160 | |||||||||||||
| Series - 2022 2 (Class A25) | ||||||||||||||||||
| 12,943,541 | g,i | JP Morgan Mortgage Trust | 3.500 | 09/25/52 | 11,833 | |||||||||||||
| Series - 2022 LTV2 (Class A6) | ||||||||||||||||||
| 753,794 | i | JPMBB Commercial Mortgage Securities Trust | 4.133 | 08/15/46 | 752 | |||||||||||||
| Series - 2013 C14 (Class A4) | ||||||||||||||||||
| 354 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 5,172,000 | JPMBB Commercial Mortgage Securities Trust | 3.997 | % | 08/15/47 | $ | 5,106 | |||||||||||
| Series - 2014 C21 (Class AS) | ||||||||||||||||||
| 2,686,000 | i | JPMBB Commercial Mortgage Securities Trust | 4.633 | 09/15/47 | 2,624 | |||||||||||||
| Series - 2014 C23 (Class B) | ||||||||||||||||||
| 3,000,000 | JPMBB Commercial Mortgage Securities Trust | 3.898 | 02/15/48 | 2,864 | ||||||||||||||
| Series - 2015 C27 (Class B) | ||||||||||||||||||
| 2,556,000 | JPMBB Commercial Mortgage Securities Trust | 3.611 | 05/15/48 | 2,502 | ||||||||||||||
| Series - 2015 C29 (Class A4) | ||||||||||||||||||
| 2,500,000 | i | JPMBB Commercial Mortgage Securities Trust | 3.917 | 05/15/48 | 2,447 | |||||||||||||
| Series - 2015 C29 (Class AS) | ||||||||||||||||||
| 2,350,000 | i | JPMBB Commercial Mortgage Securities Trust | 4.118 | 05/15/48 | 2,241 | |||||||||||||
| Series - 2015 C29 (Class B) | ||||||||||||||||||
| 3,500,000 | JPMBB Commercial Mortgage Securities Trust | 4.106 | 08/15/48 | 3,386 | ||||||||||||||
| Series - 2015 C31 (Class AS) | ||||||||||||||||||
| 9,952,000 | i | JPMBB Commercial Mortgage Securities Trust | 4.766 | 08/15/48 | 9,529 | |||||||||||||
| Series - 2015 C31 (Class B) | ||||||||||||||||||
| 3,000,000 | i | JPMBB Commercial Mortgage Securities Trust | 4.766 | 08/15/48 | 2,821 | |||||||||||||
| Series - 2015 C31 (Class C) | ||||||||||||||||||
| 1,820,000 | i | JPMBB Commercial Mortgage Securities Trust | 4.890 | 03/17/49 | 1,747 | |||||||||||||
| Series - 2016 C1 (Class C) | ||||||||||||||||||
| 3,232,402 | JPMCC Commercial Mortgage Securities Trust | 3.457 | 03/15/50 | 3,183 | ||||||||||||||
| Series - 2017 JP5 (Class A4) | ||||||||||||||||||
| 1,129,124 | JPMCC Commercial Mortgage Securities Trust | 3.549 | 03/15/50 | 1,108 | ||||||||||||||
| Series - 2017 JP5 (Class ASB) | ||||||||||||||||||
| 1,000,000 | i | JPMDB Commercial Mortgage Securities Trust | 3.197 | 12/15/49 | 869 | |||||||||||||
| Series - 2016 C4 (Class C) | ||||||||||||||||||
| 3,000,000 | JPMDB Commercial Mortgage Securities Trust | 3.694 | 03/15/50 | 2,925 | ||||||||||||||
| Series - 2017 C5 (Class A5) | ||||||||||||||||||
| 9,000,000 | JPMDB Commercial Mortgage Securities Trust | 2.536 | 05/13/53 | 7,641 | ||||||||||||||
| Series - 2020 COR7 (Class AS) | ||||||||||||||||||
| 2,953,695 | g | Ladder Capital Commercial Mortgage Securities | 3.575 | 02/15/36 | 2,850 | |||||||||||||
| Series - 2013 GCP (Class A1) | ||||||||||||||||||
| 5,000,000 | g | Ladder Capital Commercial Mortgage Securities | 3.357 | 07/12/50 | 4,907 | |||||||||||||
| Series - 2017 LC26 (Class ASB) | ||||||||||||||||||
| 597,323 | g,i | Last Mile Logistics Pan Euro Finance DAC Series - 2021 1A (Class E) | EURIBOR 3 M + 2.700% | 1.000 | 08/17/33 | 599 | ||||||||||||
| 599,877 | g,i | Last Mile Securities PE 2021 DAC Series - 2021 1A (Class D) | EURIBOR 3 M + 2.350% | 2.350 | 08/17/31 | 573 | ||||||||||||
| 7,250,000 | g | Liberty Street Trust | 3.597 | 02/10/36 | 6,949 | |||||||||||||
| Series - 2016 225L (Class A) | ||||||||||||||||||
| 4,000,000 | g,i | MAD Mortgage Trust | 3.294 | 08/15/34 | 3,854 | |||||||||||||
| Series - 2017 330M (Class A) | ||||||||||||||||||
| 1,500,000 | g,i | Manhattan West | 2.413 | 09/10/39 | 1,304 | |||||||||||||
| Series - 2020 1MW (Class B) | ||||||||||||||||||
| 3,000,000 | g,i | Manhattan West | 2.413 | 09/10/39 | 2,566 | |||||||||||||
| Series - 2020 1MW (Class C) | ||||||||||||||||||
| 620,447 | i | Merrill Lynch Mortgage Investors Trust Series - 2006 WMC1 (Class A1B) | LIBOR 1 M + 0.520% | 2.278 | 01/25/37 | 593 | ||||||||||||
| 355 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 283,353 | Morgan Stanley Bank of America Merrill Lynch Trust | 2.469 | % | 02/15/46 | $ | 283 | |||||||||||
| Series - 2013 C7 (Class AAB) | ||||||||||||||||||
| 2,779,525 | g | Morgan Stanley Bank of America Merrill Lynch Trust | 3.989 | 12/15/46 | 2,699 | |||||||||||||
| Series - 2014 C19 (Class LNC1) | ||||||||||||||||||
| 915,824 | g | Morgan Stanley Bank of America Merrill Lynch Trust | 4.384 | 12/15/46 | 883 | |||||||||||||
| Series - 2014 C19 (Class LNC2) | ||||||||||||||||||
| 4,650,000 | Morgan Stanley Bank of America Merrill Lynch Trust | 3.832 | 12/15/47 | 4,561 | ||||||||||||||
| Series - 2014 C19 (Class AS) | ||||||||||||||||||
| 1,600,000 | Morgan Stanley Bank of America Merrill Lynch Trust | 3.605 | 02/15/48 | 1,559 | ||||||||||||||
| Series - 2015 C20 (Class AS) | ||||||||||||||||||
| 1,250,000 | i | Morgan Stanley Bank of America Merrill Lynch Trust | 4.602 | 02/15/48 | 1,196 | |||||||||||||
| Series - 2015 C20 (Class C) | ||||||||||||||||||
| 2,500,000 | Morgan Stanley Bank of America Merrill Lynch Trust | 3.338 | 03/15/48 | 2,441 | ||||||||||||||
| Series - 2015 C21 (Class A4) | ||||||||||||||||||
| 6,500,000 | Morgan Stanley Bank of America Merrill Lynch Trust | 3.652 | 03/15/48 | 6,207 | ||||||||||||||
| Series - 2015 C21 (Class AS) | ||||||||||||||||||
| 3,000,000 | Morgan Stanley Bank of America Merrill Lynch Trust | 3.561 | 04/15/48 | 2,898 | ||||||||||||||
| Series - 2015 C22 (Class AS) | ||||||||||||||||||
| 3,380,820 | g,i | Morgan Stanley Capital I Inc Series - 2021 ILP (Class C) | LIBOR 1 M + 1.377% | 2.702 | 11/15/23 | 3,193 | ||||||||||||
| 2,795,000 | i | Morgan Stanley Capital I Trust | 3.779 | 05/15/48 | 2,754 | |||||||||||||
| Series - 2015 MS1 (Class A4) | ||||||||||||||||||
| 388,737 | †,i | Morgan Stanley Capital I Trust | 6.282 | 12/12/49 | 194 | |||||||||||||
| Series - 2007 IQ16 (Class AJ) | ||||||||||||||||||
| 265,169 | †,i | Morgan Stanley Capital I Trust | 6.282 | 12/12/49 | 133 | |||||||||||||
| Series - 2007 IQ16 (Class AJFX) | ||||||||||||||||||
| 5,895,632 | Morgan Stanley Capital I Trust | 3.304 | 06/15/50 | 5,825 | ||||||||||||||
| Series - 2017 H1 (Class ASB) | ||||||||||||||||||
| 1,458,000 | Morgan Stanley Capital I Trust | 3.587 | 12/15/50 | 1,405 | ||||||||||||||
| Series - 2017 HR2 (Class A4) | ||||||||||||||||||
| 2,840,000 | i | Morgan Stanley Capital I Trust | 4.429 | 07/15/51 | 2,795 | |||||||||||||
| Series - 2018 H3 (Class AS) | ||||||||||||||||||
| 5,027,114 | Morgan Stanley Capital I Trust | 4.310 | 12/15/51 | 4,965 | ||||||||||||||
| Series - 2018 H4 (Class A4) | ||||||||||||||||||
| 713,840 | g,i | Morgan Stanley Residential Mortgage Loan Trust | 2.500 | 07/25/51 | 645 | |||||||||||||
| Series - 2021 4 (Class A4) | ||||||||||||||||||
| 8,753,166 | g,i | Morgan Stanley Residential Mortgage Loan Trust | 2.500 | 08/25/51 | 7,329 | |||||||||||||
| Series - 2021 5 (Class A9) | ||||||||||||||||||
| 5,860,773 | g,i | Morgan Stanley Residential Mortgage Loan Trust | 2.500 | 09/25/51 | 4,909 | |||||||||||||
| Series - 2021 6 (Class A9) | ||||||||||||||||||
| 356 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 2,205,634 | g,i | Morgan Stanley Residential Mortgage Loan Trust | 2.500 | % | 09/25/51 | $ | 2,007 | ||||||||||
| Series - 2021 6 (Class A4) | ||||||||||||||||||
| 3,000,000 | g,i | MSDB Trust | 3.427 | 07/11/39 | 2,775 | |||||||||||||
| Series - 2017 712F (Class A) | ||||||||||||||||||
| 500,000 | g,i | MTN Commercial Mortgage Trust | 5.568 | 03/15/39 | 475 | |||||||||||||
| Series - 2022 LPFL (Class E) | ||||||||||||||||||
| 1,200,000 | g,i | Natixis Commercial Mortgage Securities Trust | 3.917 | 11/15/32 | 1,193 | |||||||||||||
| Series - 2018 285M (Class A) | ||||||||||||||||||
| 15,010,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 1.500% | 2.824 | 07/15/36 | 14,784 | ||||||||||||
| Series - 2019 MILE (Class A) | ||||||||||||||||||
| 5,000,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 1.800% | 3.124 | 07/15/36 | 4,908 | ||||||||||||
| Series - 2019 MILE (Class B) | ||||||||||||||||||
| 2,900,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 2.200% | 3.524 | 07/15/36 | 2,833 | ||||||||||||
| Series - 2019 MILE (Class C) | ||||||||||||||||||
| 5,000,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 2.750% | 4.074 | 07/15/36 | 4,855 | ||||||||||||
| Series - 2019 MILE (Class D) | ||||||||||||||||||
| 2,000,000 | g | Natixis Commercial Mortgage Securities Trust | 2.966 | 12/15/38 | 1,909 | |||||||||||||
| Series - 2020 2PAC (Class A) | ||||||||||||||||||
| 1,277,862 | g,i | New Residential Mortgage Loan Trust | 2.797 | 09/25/59 | 1,232 | |||||||||||||
| Series - 2019 NQM4 (Class A3) | ||||||||||||||||||
| 980,000 | g,i | New Residential Mortgage Loan Trust | 2.986 | 09/25/59 | 893 | |||||||||||||
| Series - 2019 NQM4 (Class M1) | ||||||||||||||||||
| 413,710 | i | New York Mortgage Trust | LIBOR 1 M + 0.480% | 2.104 | 02/25/36 | 409 | ||||||||||||
| Series - 2005 3 (Class A1) | ||||||||||||||||||
| 1,825,000 | g,i | NLT Trust | 2.569 | 08/25/56 | 1,437 | |||||||||||||
| Series - 2021 INV2 (Class M1) | ||||||||||||||||||
| 11,681,502 | g,i | OBX Trust | 2.500 | 07/25/51 | 9,747 | |||||||||||||
| Series - 2021 J2 (Class A19) | ||||||||||||||||||
| 1,032,890 | g,i | OBX Trust | LIBOR 1 M + 0.650% | 2.274 | 06/25/57 | 1,011 | ||||||||||||
| Series - 2018 1 (Class A2) | ||||||||||||||||||
| 3,683,134 | g,i | Oceanview Mortgage Trust | 2.500 | 05/25/51 | 3,081 | |||||||||||||
| Series - 2021 1 (Class A19) | ||||||||||||||||||
| 5,434,000 | g | Olympic Tower Mortgage Trust | 3.566 | 05/10/39 | 4,977 | |||||||||||||
| Series - 2017 OT (Class A) | ||||||||||||||||||
| 5,120,000 | g | One Bryant Park Trust | 2.516 | 09/15/54 | 4,424 | |||||||||||||
| Series - 2019 OBP (Class A) | ||||||||||||||||||
| 2,000,000 | g | RBS Commercial Funding, Inc Trust | 3.511 | 03/11/31 | 1,957 | |||||||||||||
| Series - 2013 SMV (Class B) | ||||||||||||||||||
| 15,951,188 | g,i | RCKT Mortgage Trust | 2.500 | 02/25/52 | 13,288 | |||||||||||||
| Series - 2022 2 (Class A22) | ||||||||||||||||||
| 3,531,750 | g,i | RCKT Mortgage Trust | 3.500 | 06/25/52 | 3,153 | |||||||||||||
| Series - 2022 4 (Class A22) | ||||||||||||||||||
| 728,144 | g,i | Sequoia Mortgage Trust | 3.500 | 05/25/45 | 676 | |||||||||||||
| Series - 2015 2 (Class A1) | ||||||||||||||||||
| 608,920 | g,i | Sequoia Mortgage Trust | 3.500 | 06/25/46 | 576 | |||||||||||||
| Series - 2016 1 (Class A19) | ||||||||||||||||||
| 158,893 | g,i | Sequoia Mortgage Trust | 3.500 | 02/25/47 | 148 | |||||||||||||
| Series - 2017 2 (Class A19) | ||||||||||||||||||
| 49,536 | g,i | Sequoia Mortgage Trust | 3.500 | 04/25/47 | 46 | |||||||||||||
| Series - 2017 3 (Class A19) | ||||||||||||||||||
| 2,176,887 | g,i | Sequoia Mortgage Trust | 3.723 | 09/25/47 | 2,009 | |||||||||||||
| Series - 2017 6 (Class B1) | ||||||||||||||||||
| 357 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 64,920 | g,i | Sequoia Mortgage Trust | 3.500 | % | 02/25/48 | $ | 61 | ||||||||||
| Series - 2018 2 (Class A19) | ||||||||||||||||||
| 1,078,948 | g,i | Sequoia Mortgage Trust | 3.500 | 03/25/48 | 1,021 | |||||||||||||
| Series - 2018 3 (Class A1) | ||||||||||||||||||
| 106,269 | g,i | Sequoia Mortgage Trust | 4.000 | 09/25/48 | 104 | |||||||||||||
| Series - 2018 7 (Class A19) | ||||||||||||||||||
| 343,654 | g,i | Sequoia Mortgage Trust | 4.000 | 06/25/49 | 339 | |||||||||||||
| Series - 2019 2 (Class A19) | ||||||||||||||||||
| 1,560,762 | g,i | Sequoia Mortgage Trust | 3.500 | 12/25/49 | 1,457 | |||||||||||||
| Series - 2019 5 (Class A19) | ||||||||||||||||||
| 6,555,215 | g,i | Sequoia Mortgage Trust | 3.000 | 04/25/50 | 5,761 | |||||||||||||
| Series - 2020 3 (Class A19) | ||||||||||||||||||
| 6,115,769 | g,i | Sequoia Mortgage Trust | 2.500 | 06/25/51 | 5,112 | |||||||||||||
| Series - 2021 4 (Class A19) | ||||||||||||||||||
| 481,254 | g,i | Shellpoint Co-Originator Trust | 3.500 | 04/25/47 | 447 | |||||||||||||
| Series - 2017 1 (Class A19) | ||||||||||||||||||
| 7,750,000 | g | SLG Office Trust | 2.585 | 07/15/41 | 6,574 | |||||||||||||
| Series - 2021 OVA (Class A) | ||||||||||||||||||
| 26,865,000 | g | SLG Office Trust | 2.851 | 07/15/41 | 21,508 | |||||||||||||
| Series - 2021 OVA (Class D) | ||||||||||||||||||
| 10,128,200 | g,i | SMR Mortgage Trust | 2.929 | 02/15/39 | 9,773 | |||||||||||||
| Series - 2022 IND (Class A) | ||||||||||||||||||
| 9,645,905 | g,i | SMR Mortgage Trust | 4.229 | 02/15/39 | 9,229 | |||||||||||||
| Series - 2022 IND (Class C) | ||||||||||||||||||
| 1,205,738 | g,i | SMR Mortgage Trust | 5.229 | 02/15/39 | 1,147 | |||||||||||||
| Series - 2022 IND (Class D) | ||||||||||||||||||
| 5,000,000 | g,i | SREIT Trust | LIBOR 1 M + 0.822% | 2.146 | 11/15/36 | 4,792 | ||||||||||||
| Series - 2021 MFP2 (Class A) | ||||||||||||||||||
| 6,930,000 | g,i | SREIT Trust | LIBOR 1 M + 1.171% | 2.495 | 11/15/36 | 6,628 | ||||||||||||
| Series - 2021 MFP2 (Class B) | ||||||||||||||||||
| 7,302,000 | g,i | Structured Agency Credit Risk Debt Note (STACR) | 3.026 | 10/25/33 | 6,752 | |||||||||||||
| Series - 2021 DNA3 (Class M2) | ||||||||||||||||||
| 140,861 | g,i | STACR | 3.761 | 02/25/48 | 138 | |||||||||||||
| Series - 2018 SPI1 (Class M2) | ||||||||||||||||||
| 29,416 | g,i | STACR | 3.827 | 05/25/48 | 29 | |||||||||||||
| Series - 2018 SPI2 (Class M2) | ||||||||||||||||||
| 2,100,000 | g,i | STACR | LIBOR 1 M + 2.500% | 4.124 | 02/25/50 | 1,797 | ||||||||||||
| Series - 2020 DNA2 (Class B1) | ||||||||||||||||||
| 2,640,000 | g,i | STACR | 4.926 | 11/25/50 | 2,486 | |||||||||||||
| Series - 2020 HQA5 (Class B1) | ||||||||||||||||||
| 347,448 | g,i | Taurus UK DAC Series - 2021 UK1A (Class B) | SONIA Interest Rate Benchmark + 1.300% | 1.908 | 05/17/31 | 403 | ||||||||||||
| 506,281 | g,i | Taurus UK DAC Series - 2021 UK1A (Class C) | SONIA Interest Rate Benchmark + 1.650% | 2.258 | 05/17/31 | 579 | ||||||||||||
| 12,117,239 | UBS Commercial Mortgage Trust | 3.256 | 06/15/50 | 11,868 | ||||||||||||||
| Series - 2017 C1 (Class ASB) | ||||||||||||||||||
| 2,000,000 | UBS Commercial Mortgage Trust | 3.366 | 10/15/50 | 1,958 | ||||||||||||||
| Series - 2017 C4 (Class ASB) | ||||||||||||||||||
| 1,450,000 | UBS Commercial Mortgage Trust | 3.563 | 10/15/50 | 1,389 | ||||||||||||||
| Series - 2017 C4 (Class A4) | ||||||||||||||||||
| 358 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 1,750,000 | UBS Commercial Mortgage Trust | 4.334 | % | 10/15/51 | $ | 1,743 | |||||||||
| Series - 2018 C13 (Class A4) | ||||||||||||||||
| 2,364,941 | UBS-Barclays Commercial Mortgage Trust | 2.850 | 12/10/45 | 2,363 | ||||||||||||
| Series - 2012 C4 (Class A5) | ||||||||||||||||
| 2,070,000 | g,i | Verus Securitization Trust | 3.207 | 11/25/59 | 2,054 | |||||||||||
| Series - 2019 4 (Class M1) | ||||||||||||||||
| 1,564,258 | g | Verus Securitization Trust | 1.733 | 05/25/65 | 1,463 | |||||||||||
| Series - 2020 5 (Class A3) | ||||||||||||||||
| 2,041,104 | g,i | Verus Securitization Trust | 2.240 | 10/25/66 | 1,805 | |||||||||||
| Series - 2021 7 (Class A3) | ||||||||||||||||
| 1,893,894 | g | VSE VOI Mortgage LLC | 2.330 | 03/20/35 | 1,829 | |||||||||||
| Series - 2017 A (Class A) | ||||||||||||||||
| 8,200,000 | Wells Fargo Commercial Mortgage Trust | 3.539 | 10/15/45 | 8,191 | ||||||||||||
| Series - 2012 LC5 (Class AS) | ||||||||||||||||
| 1,740,030 | Wells Fargo Commercial Mortgage Trust | 3.405 | 12/15/47 | 1,699 | ||||||||||||
| Series - 2014 LC18 (Class A5) | ||||||||||||||||
| 990,000 | Wells Fargo Commercial Mortgage Trust | 3.406 | 05/15/48 | 960 | ||||||||||||
| Series - 2015 NXS1 (Class AS) | ||||||||||||||||
| 2,000,000 | i | Wells Fargo Commercial Mortgage Trust | 3.658 | 05/15/48 | 1,918 | |||||||||||
| Series - 2015 NXS1 (Class B) | ||||||||||||||||
| 2,279,000 | i | Wells Fargo Commercial Mortgage Trust | 4.288 | 05/15/48 | 2,073 | |||||||||||
| Series - 2015 NXS1 (Class D) | ||||||||||||||||
| 7,828,105 | Wells Fargo Commercial Mortgage Trust | 2.788 | 07/15/48 | 7,642 | ||||||||||||
| Series - 2016 C35 (Class ASB) | ||||||||||||||||
| 12,223,636 | Wells Fargo Commercial Mortgage Trust | 2.514 | 08/15/49 | 11,872 | ||||||||||||
| Series - 2016 BNK1 (Class ASB) | ||||||||||||||||
| 12,098,244 | Wells Fargo Commercial Mortgage Trust | 2.825 | 10/15/49 | 11,867 | ||||||||||||
| Series - 2016 LC24 (Class ASB) | ||||||||||||||||
| 872,111 | Wells Fargo Commercial Mortgage Trust | 3.635 | 03/15/50 | 847 | ||||||||||||
| Series - 2017 RB1 (Class A5) | ||||||||||||||||
| 2,000,000 | Wells Fargo Commercial Mortgage Trust | 3.757 | 03/15/50 | 1,923 | ||||||||||||
| Series - 2017 RB1 (Class AS) | ||||||||||||||||
| 14,999,931 | Wells Fargo Commercial Mortgage Trust | 3.261 | 07/15/50 | 14,765 | ||||||||||||
| Series - 2017 C38 (Class ASB) | ||||||||||||||||
| 2,197,255 | i | Wells Fargo Commercial Mortgage Trust | 3.903 | 07/15/50 | 1,968 | |||||||||||
| Series - 2017 C38 (Class C) | ||||||||||||||||
| 10,000,000 | Wells Fargo Commercial Mortgage Trust | 3.212 | 09/15/50 | 9,808 | ||||||||||||
| Series - 2017 C39 (Class ASB) | ||||||||||||||||
| 4,000,000 | i | Wells Fargo Commercial Mortgage Trust | 3.767 | 07/15/58 | 3,948 | |||||||||||
| Series - 2015 NXS2 (Class A5) | ||||||||||||||||
| 1,000,000 | i | Wells Fargo Commercial Mortgage Trust | 4.425 | 07/15/58 | 977 | |||||||||||
| Series - 2015 NXS2 (Class B) | ||||||||||||||||
| 6,000,000 | Wells Fargo Commercial Mortgage Trust | 3.749 | 03/15/59 | 5,829 | ||||||||||||
| Series - 2016 C33 (Class AS) | ||||||||||||||||
| 247,111 | g,i | Wells Fargo Mortgage Backed Securities Trust | 4.000 | 04/25/49 | 243 | |||||||||||
| Series - 2019 2 (Class A17) | ||||||||||||||||
| 2,790,469 | g,i | Wells Fargo Mortgage Backed Securities Trust | 3.500 | 09/25/49 | 2,622 | |||||||||||
| Series - 2019 4 (Class A1) | ||||||||||||||||
| 696,107 | g,i | Wells Fargo Mortgage Backed Securities Trust | 3.000 | 07/25/50 | 611 | |||||||||||
| Series - 2020 4 (Class A17) | ||||||||||||||||
| 12,103,313 | g,i | Wells Fargo Mortgage Backed Securities Trust | 2.500 | 06/25/51 | 10,111 | |||||||||||
| Series - 2021 2 (Class A17) | ||||||||||||||||
| 359 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 5,053,806 | g,i | Wells Fargo Mortgage Backed Securities Trust | 3.000 | % | 08/25/51 | $ | 4,496 | ||||||||
| Series - 2021 INV1 (Class A17) | ||||||||||||||||
| 5,509,170 | g,i | Wells Fargo Mortgage Backed Securities Trust | 3.320 | 08/25/51 | 4,599 | |||||||||||
| Series - 2021 INV1 (Class B1) | ||||||||||||||||
| 4,884,878 | g,i | Wells Fargo Mortgage Backed Securities Trust | 2.500 | 12/25/51 | 4,077 | |||||||||||
| Series - 2022 2 (Class A18) | ||||||||||||||||
| 4,366,570 | g,i | Wells Fargo Mortgage Backed Securities Trust | 3.000 | 03/25/52 | 3,800 | |||||||||||
| Series - 2022 INV1 (Class A18) | ||||||||||||||||
| 7,501,569 | g,i | Wells Fargo Mortgage Backed Securities Trust | 3.500 | 03/25/52 | 6,757 | |||||||||||
| Series - 2022 INV1 (Class A17) | ||||||||||||||||
| 1,770,000 | WFRBS Commercial Mortgage Trust | 3.345 | 05/15/45 | 1,753 | ||||||||||||
| Series - 2013 C13 (Class AS) | ||||||||||||||||
| 3,643,117 | i | WFRBS Commercial Mortgage Trust | 4.079 | 03/15/46 | 3,637 | |||||||||||
| Series - 2013 UBS1 (Class A4) | ||||||||||||||||
| 1,050,000 | i | WFRBS Commercial Mortgage Trust | 4.162 | 12/15/46 | 1,046 | |||||||||||
| Series - 2013 C18 (Class A5) | ||||||||||||||||
| 2,185,281 | WFRBS Commercial Mortgage Trust | 3.995 | 05/15/47 | 2,157 | ||||||||||||
| Series - 2014 C20 (Class A5) | ||||||||||||||||
| 3,865,000 | WFRBS Commercial Mortgage Trust | 3.607 | 11/15/47 | 3,799 | ||||||||||||
| Series - 2014 C24 (Class A5) | ||||||||||||||||
| 8,000,000 | WFRBS Commercial Mortgage Trust | 3.560 | 03/15/48 | 7,957 | ||||||||||||
| Series - 2013 C12 (Class AS) | ||||||||||||||||
| 326,075 | g,i | WinWater Mortgage Loan Trust | 3.908 | 06/20/44 | 306 | |||||||||||
| Series - 2014 1 (Class B4) | ||||||||||||||||
| 6,782,418 | g,i | Woodward Capital Management | 3.000 | 05/25/52 | 5,876 | |||||||||||
| Series - 2022 3 (Class A21) | ||||||||||||||||
| TOTAL OTHER MORTGAGE BACKED | 1,358,203 | |||||||||||||||
| TOTAL STRUCTURED ASSETS | 2,133,431 | |||||||||||||||
| (Cost $2,325,760) | ||||||||||||||||
| TOTAL BONDS | 11,166,734 | |||||||||||||||
| (Cost $12,222,071) | ||||||||||||||||
| SHARES | COMPANY | |||||||||||||||
| PREFERRED STOCKS - 0.1% | ||||||||||||||||
| BANKS - 0.1% | ||||||||||||||||
| 470,597 | *,e | Federal Home Loan Mortgage Corp | 1,558 | |||||||||||||
| 1,527,061 | * | Federal National Mortgage Association | 5,314 | |||||||||||||
| TOTAL BANKS | 6,872 | |||||||||||||||
| TOTAL PREFERRED STOCKS | 6,872 | |||||||||||||||
| (Cost $49,941) | ||||||||||||||||
| PRINCIPAL | ISSUER | |||||||||||||||
| SHORT-TERM INVESTMENTS - 5.4% | ||||||||||||||||
| GOVERNMENT AGENCY DEBT - 2.6% | ||||||||||||||||
| $ | 10,000,000 | Federal Agricultural Mortgage Corp (FAMC) | 0.000 | 07/29/22 | 9,989 | |||||||||||
| 7,000,000 | FAMC | 0.000 | 08/26/22 | 6,981 | ||||||||||||
| 10,000,000 | Federal Farm Credit Bank (FFCB) | 0.000 | 07/06/22 | 9,998 | ||||||||||||
| 5,000,000 | FFCB | 0.000 | 07/12/22 | 4,998 | ||||||||||||
| 29,197,000 | FFCB | 0.000 | 07/22/22 | 29,173 | ||||||||||||
| 11,000,000 | FFCB | 0.000 | 07/25/22 | 10,990 | ||||||||||||
| 5,461,000 | FFCB | 0.000 | 08/18/22 | 5,449 | ||||||||||||
| 360 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 15,000,000 | FFCB | 0.000 | % | 09/13/22 | $ | 14,941 | |||||||||
| 22,000,000 | FFCB | 0.000 | 11/08/22 | 21,810 | ||||||||||||
| 15,000,000 | Federal Home Loan Bank (FHLB) | 0.000 | 07/01/22 | 15,000 | ||||||||||||
| 35,000,000 | FHLB | 0.000 | 07/07/22 | 34,992 | ||||||||||||
| 10,000,000 | FHLB | 0.000 | 07/11/22 | 9,996 | ||||||||||||
| 28,998,000 | FHLB | 0.000 | 07/15/22 | 28,982 | ||||||||||||
| 20,000,000 | FHLB | 0.000 | 07/18/22 | 19,987 | ||||||||||||
| 10,300,000 | FHLB | 0.000 | 07/19/22 | 10,293 | ||||||||||||
| 30,000,000 | FHLB | 0.000 | 08/01/22 | 29,956 | ||||||||||||
| 15,000,000 | FHLB | 0.000 | 08/02/22 | 14,977 | ||||||||||||
| 8,000,000 | FHLB | 0.000 | 08/05/22 | 7,987 | ||||||||||||
| 18,000,000 | FHLB | 0.000 | 09/16/22 | 17,927 | ||||||||||||
| TOTAL GOVERNMENT AGENCY DEBT | 304,426 | |||||||||||||||
| REPURCHASE AGREEMENT - 0.2% | ||||||||||||||||
| 25,220,000 | r | Fixed Income Clearing Corp (FICC) | 1.450 | 07/01/22 | 25,220 | |||||||||||
| TOTAL REPURCHASE AGREEMENT | 25,220 | |||||||||||||||
| TREASURY DEBT - 1.1% | ||||||||||||||||
| 30,000,000 | United States Cash Management Bill | 0.000 | 07/05/22 | 29,997 | ||||||||||||
| 40,000,000 | United States Treasury Bill | 0.000 | 08/11/22 | 39,942 | ||||||||||||
| 10,000,000 | United States Treasury Bill | 0.000 | 10/06/22 | 9,953 | ||||||||||||
| 50,000,000 | United States Treasury Note | 1.500 | 09/15/22 | 49,983 | ||||||||||||
| TOTAL TREASURY DEBT | 129,875 | |||||||||||||||
| SHARES | COMPANY | |||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.5% | ||||||||||||||||
| 168,751,931 | c | State Street Navigator Securities Lending Government Money Market Portfolio | 1.540 | 168,752 | ||||||||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | 168,752 | |||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | 628,273 | |||||||||||||||
| (Cost $629,002) | ||||||||||||||||
| TOTAL INVESTMENTS - 103.3% | 11,885,908 | |||||||||||||||
| (Cost $12,990,722) | ||||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - (3.3)% | (382,963 | ) | ||||||||||||||
| NET ASSETS - 100.0% | $ | 11,502,945 | ||||||||||||||
| AUD | Australian Dollar | ||
| BRL | Brazilian Real | ||
| CAD | Canadian Dollar | ||
| CLP | Chilean Peso | ||
| CNY | Chinese Yuan | ||
| DOP | Dominican Republic Peso | ||
| EGP | Egyptian Pound | ||
| EUR | Euro | ||
| EURIBOR | EURO Interbank Offer Rate | ||
| 361 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| GBP | Pound Sterling | ||
| HUF | Hungary Forint | ||
| IDR | Indonesian Rupiah | ||
| ILS | Israeli New Shekel | ||
| JPY | Japanese Yen | ||
| KRW | South Korean Won | ||
LIBOR |
London Interbank Offered Rate | ||
M |
Month | ||
| MXN | Mexican Peso | ||
| MYR | Malaysian Ringgit | ||
| NOK | Norwegian Krone | ||
| NZD | New Zealand Dollar | ||
| PEN | Peruvian Sol | ||
| PHP | Philippine Peso | ||
| PLN | Polish Zloty | ||
REIT |
Real Estate Investment Trust | ||
| RON | Romanian Leu | ||
| RSD | Serbian Dinar | ||
| RUB | Russian Ruble | ||
| SGD | Singapore Dollar | ||
SOFR |
Secure Overnight Financing Rate | ||
SONIA |
Sterling Overnight Interbank Average Rate | ||
| THB | Thai Baht | ||
UGX |
Ugandan Shilling | ||
| UYU | Uruguayan Peso | ||
UZS |
Uzbekistani Som | ||
| ZAR | South African Rand | ||
| ^ | Amount represents less than $1,000. | ||
| * | Non-income producing | ||
| † | Security is categorized as Level 3 in the fair value hierarchy. | ||
| ‡ | Perpetual security | ||
| 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 $170,562,186. | ||
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/22, the aggregate value of these securities is $2,702,048,165 or 23.5% 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. | ||
| k | Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index. | ||
| o | Payment in Kind Bond | ||
| q | In default | ||
| r | Agreement with Fixed Income Clearing Corp (FICC), 1.450% dated 6/30/22 to be repurchased at $25,220,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rates 0.250%–1.625% and maturity dates 9/30/25–2/15/26, valued at $25,724,569. | ||
| Cost amounts are in thousands. | |||
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Description | Number of long (short) contracts | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation) | |||||||||||||
| Ultra U.S. Treasury Bond | 250 | 09/21/22 | $ | 38,076 | $ | 38,586 | $ | 510 | ||||||||||
| 362 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
Forward foreign currency contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Currency to be purchased | Receive | Currency to be sold | Deliver | Counterparty | Settlement date | Unrealized appreciation (depreciation) | ||||||||
| $ | 24,339 | CNY | 161,179 | Australia and New Zealand Banking Group | 07/29/22 | $ | 268 | |||||||
| $ | 294 | EUR | 277 | Australia and New Zealand Banking Group | 07/29/22 | 2 | ||||||||
| $ | 362 | EUR | 347 | Australia and New Zealand Banking Group | 07/29/22 | (2 | ) | |||||||
| $ | 375 | EUR | 355 | Australia and New Zealand Banking Group | 07/29/22 | 3 | ||||||||
| $ | 861 | NZD | 1,312 | Australia and New Zealand Banking Group | 07/29/22 | 41 | ||||||||
| EUR | 4 | $ | 4 | Australia and New Zealand Banking Group | 07/29/22 | (0 | )^ | |||||||
| EUR | 332 | $ | 351 | Australia and New Zealand Banking Group | 07/29/22 | (3 | ) | |||||||
| EUR | 293 | $ | 308 | Australia and New Zealand Banking Group | 07/29/22 | 0 | ^ | |||||||
| Total | $ | 309 | ||||||||||||
| $ | 76,723 | EUR | 71,506 | Bank of America | 07/29/22 | $ | 1,641 | |||||||
| $ | 391 | PEN | 1,452 | Bank of America | 07/05/22 | 12 | ||||||||
| $ | 630 | SEK | 6,188 | Bank of America | 07/29/22 | 25 | ||||||||
| PEN | 1,452 | $ | 379 | Bank of America | 07/05/22 | (0 | )^ | |||||||
| Total | $ | 1,678 | ||||||||||||
| $ | 402 | HUF | 153,078 | Citibank N.A. | 07/29/22 | $ | (1 | ) | ||||||
| $ | 6,625 | KRW | 8,391,813 | Citibank N.A. | 09/02/22 | 106 | ||||||||
| $ | 499 | NZD | 789 | Citibank N.A. | 07/29/22 | 6 | ||||||||
| $ | 343 | PLN | 1,523 | Citibank N.A. | 07/29/22 | 4 | ||||||||
| $ | 684 | THB | 24,145 | Citibank N.A. | 08/02/22 | (0 | )^ | |||||||
| CAD | 764 | $ | 594 | Citibank N.A. | 07/29/22 | (1 | ) | |||||||
| GBP | 1,752 | $ | 2,203 | Citibank N.A. | 07/29/22 | (69 | ) | |||||||
| $ | 456 | ZAR | 7,320 | Citibank N.A. | 07/29/22 | 8 | ||||||||
| Total | $ | 53 | ||||||||||||
| $ | 621 | RON | 2,931 | Goldman Sachs | 07/29/22 | $ | 2 | |||||||
| Total | $ | 2 | ||||||||||||
| $ | 6,566 | AUD | 9,187 | Morgan Stanley | 07/29/22 | $ | 224 | |||||||
| $ | 467 | EUR | 449 | Morgan Stanley | 07/29/22 | (4 | ) | |||||||
| $ | 502 | EUR | 482 | Morgan Stanley | 07/29/22 | (4 | ) | |||||||
| $ | 610 | EUR | 571 | Morgan Stanley | 07/29/22 | 11 | ||||||||
| $ | 34 | EUR | 32 | Morgan Stanley | 07/29/22 | 0 | ^ | |||||||
| $ | 2 | EUR | 2 | Morgan Stanley | 07/29/22 | (0 | )^ | |||||||
| $ | 1,260 | NOK | 11,727 | Morgan Stanley | 07/29/22 | 69 | ||||||||
| $ | 379 | PEN | 1,452 | Morgan Stanley | 07/05/22 | 0 | ^ | |||||||
| $ | 384 | PEN | 1,457 | Morgan Stanley | 08/03/22 | 5 | ||||||||
| PEN | 1,452 | $ | 384 | Morgan Stanley | 07/05/22 | (5 | ) | |||||||
| SEK | 1,192 | $ | 117 | Morgan Stanley | 07/29/22 | (1 | ) | |||||||
| SEK | 4,995 | $ | 515 | Morgan Stanley | 07/29/22 | (26 | ) | |||||||
| Total | $ | 269 | ||||||||||||
| $ | 7,942 | CAD | 10,204 | Toronto Dominion Bank | 07/29/22 | $ | 15 | |||||||
| $ | 780 | EUR | 735 | Toronto Dominion Bank | 07/29/22 | 8 | ||||||||
| $ | 21,121 | GBP | 16,830 | Toronto Dominion Bank | 07/29/22 | 624 | ||||||||
| $ | 1,100 | ILS | 3,775 | Toronto Dominion Bank | 07/29/22 | 17 | ||||||||
| $ | 25,555 | JPY | 3,261,546 | Toronto Dominion Bank | 07/29/22 | 1,474 | ||||||||
| CNY | 27,421 | $ | 4,111 | Toronto Dominion Bank | 07/29/22 | (16 | ) | |||||||
| EUR | 372 | $ | 398 | Toronto Dominion Bank | 07/29/22 | (8 | ) | |||||||
| EUR | 116 | $ | 124 | Toronto Dominion Bank | 07/29/22 | (3 | ) | |||||||
| Total | $ | 2,111 | ||||||||||||
| Total | $ | 4,422 | ||||||||||||
| 363 |
COLLEGE RETIREMENT EQUITIES FUND - Core Bond Account
| ^ | Amount represents less than $1,000. | ||
| AUD | Australian Dollar | ||
| CAD | Canadian Dollar | ||
| CNY | Chinese Yuan | ||
| EUR | Euro | ||
| GBP | Pound Sterling | ||
| HUF | Hungarian Forint | ||
| ILS | Israeli New Shekel | ||
| JPY | Japanese Yen | ||
| KRW | South Korean Won | ||
| NOK | Norwegian Krone | ||
| NZD | New Zealand Dollar | ||
| PEN | Peruvian Sol | ||
| PLN | Polish Zloty | ||
| RON | Romanian Leu | ||
| SEK | Swedish Krona | ||
| THB | Thai Baht | ||
| ZAR | South African Rand | ||
| 364 |
COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account
COLLEGE RETIREMENT EQUITIES FUND
INFLATION-LINKED BOND ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2022
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| BANK LOAN OBLIGATIONS - 0.5% | ||||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.0% | ||||||||||||||||||
| $ | 2,485,648 | i | Trans Union LLC | LIBOR 1M + 2.250% | 3.916 | % | 12/01/28 | $ | 2,365 | |||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 2,365 | |||||||||||||||||
| CONSUMER DURABLES & APPAREL - 0.0% | ||||||||||||||||||
| 2,720,000 | i | Crocs, Inc | SOFR 3M + 3.500% | 4.450 | 02/20/29 | 2,470 | ||||||||||||
| TOTAL CONSUMER DURABLES & APPAREL | 2,470 | |||||||||||||||||
| CONSUMER SERVICES - 0.1% | ||||||||||||||||||
| 2,977,099 | i | 1011778 BC ULC | LIBOR 1M + 1.750% | 3.416 | 11/19/26 | 2,836 | ||||||||||||
| 2,481,250 | i | Stars Group Holdings BV | LIBOR 3M + 2.250% | 4.500 | 07/21/26 | 2,355 | ||||||||||||
| TOTAL CONSUMER SERVICES | 5,191 | |||||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 0.1% | ||||||||||||||||||
| 375,000 | h,i | II-VI, Inc | LIBOR 1 M + 2.750% | 3.250 | 12/08/28 | 359 | ||||||||||||
| 3,000,000 | i | Select Medical Corp | LIBOR 1M + 2.500% | 4.170 | 03/06/25 | 2,865 | ||||||||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 3,224 | |||||||||||||||||
| MEDIA & ENTERTAINMENT - 0.1% | ||||||||||||||||||
| 1,990,000 | i | Fluidra Finco SL | SOFR 1M + 2.000% | 3.625 | 01/29/29 | 1,926 | ||||||||||||
| 2,796,245 | i | Nascar Holdings, Inc | LIBOR 1 M + 2.500% | 4.166 | 10/19/26 | 2,682 | ||||||||||||
| 2,332,916 | i | Organon & Co | LIBOR 3M + 3.000% | 4.625 | 06/02/28 | 2,240 | ||||||||||||
| TOTAL MEDIA & ENTERTAINMENT | 6,848 | |||||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.1% | ||||||||||||||||||
| 3,458,668 | i | Avantor, Inc | LIBOR 1M + 2.250% | 3.916 | 11/08/27 | 3,318 | ||||||||||||
| 2,481,203 | i | Jazz Financing Lux Sarl | LIBOR 1M + 3.500% | 5.166 | 05/05/28 | 2,362 | ||||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 5,680 | |||||||||||||||||
| RETAILING - 0.0% | ||||||||||||||||||
| 2,985,000 | i | Rexnord LLC | LIBOR 1 M + 2.250% | 3.916 | 10/04/28 | 2,917 | ||||||||||||
| TOTAL RETAILING | 2,917 | |||||||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0% | ||||||||||||||||||
| 1 | h,i | MKS Instruments, Inc | LIBOR 1 M + 2.250% | 2.750 | 10/22/28 | 0 | ^ | |||||||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 0 | ^ | ||||||||||||||||
| SOFTWARE & SERVICES - 0.1% | ||||||||||||||||||
| 2,640,000 | h,i | NortonLifeLock, Inc | SOFR + 2.000% | 2.500 | 01/28/29 | 2,497 | ||||||||||||
| 1,646,789 | i | SS&C Technologies, Inc | LIBOR 1M + 1.750% | 3.416 | 04/16/25 | 1,561 | ||||||||||||
| 1,336,842 | i | SS&C Technologies, Inc | LIBOR 1 M + 1.750% | 3.416 | 04/16/25 | 1,268 | ||||||||||||
| TOTAL SOFTWARE & SERVICES | 5,326 | |||||||||||||||||
| UTILITIES - 0.0% | ||||||||||||||||||
| 2,487,469 | i | Core & Main LP | LIBOR 1 M + 2.500% | 4.319 | 07/27/28 | 2,364 | ||||||||||||
| TOTAL UTILITIES | 2,364 | |||||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS | 36,385 | |||||||||||||||||
| (Cost $38,000) | ||||||||||||||||||
| 365 |
COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| BONDS - 99.2% | ||||||||||||||||||
| CORPORATE BONDS - 1.5% | ||||||||||||||||||
| BANKS - 0.1% | ||||||||||||||||||
| $ | 3,000,000 | Bank of America Corp | 2.572 | % | 10/20/32 | $ | 2,474 | |||||||||||
| 3,000,000 | JPMorgan Chase & Co | 2.545 | 11/08/32 | 2,493 | ||||||||||||||
| TOTAL BANKS | 4,967 | |||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.1% | ||||||||||||||||||
| 3,485,000 | g | Albion Financing SARL | 6.125 | 10/15/26 | 2,983 | |||||||||||||
| 5,000,000 | g | Prime Security Services Borrower LLC | 5.750 | 04/15/26 | 4,662 | |||||||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 7,645 | |||||||||||||||||
| DIVERSIFIED FINANCIALS - 0.1% | ||||||||||||||||||
| 3,125,000 | g | Banco de Chile | 2.990 | 12/09/31 | 2,609 | |||||||||||||
| 3,000,000 | Morgan Stanley | 2.511 | 10/20/32 | 2,479 | ||||||||||||||
| 5,000,000 | OneMain Finance Corp | 3.500 | 01/15/27 | 4,000 | ||||||||||||||
| TOTAL DIVERSIFIED FINANCIALS | 9,088 | |||||||||||||||||
| ENERGY - 0.3% | ||||||||||||||||||
| 2,275,000 | Ecopetrol S.A. | 4.625 | 11/02/31 | 1,723 | ||||||||||||||
| 680,000 | g | EQM Midstream Partners LP | 7.500 | 06/01/27 | 656 | |||||||||||||
| 5,000,000 | g | Hess Midstream Operations LP | 5.625 | 02/15/26 | 4,763 | |||||||||||||
| 2,500,000 | g | MEG Energy Corp | 7.125 | 02/01/27 | 2,518 | |||||||||||||
| 5,000,000 | e | Murphy Oil Corp | 5.875 | 12/01/27 | 4,666 | |||||||||||||
| 5,000,000 | e | Occidental Petroleum Corp | 3.500 | 08/15/29 | 4,466 | |||||||||||||
| 3,150,000 | g | Parkland Corp | 4.625 | 05/01/30 | 2,555 | |||||||||||||
| 2,375,000 | Petroleos Mexicanos | 6.700 | 02/16/32 | 1,811 | ||||||||||||||
| TOTAL ENERGY | 23,158 | |||||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 0.1% | ||||||||||||||||||
| 6,000,000 | g | Tenet Healthcare Corp | 4.375 | 01/15/30 | 5,076 | |||||||||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 5,076 | |||||||||||||||||
| MATERIALS - 0.1% | ||||||||||||||||||
| 2,950,000 | g | Freeport Indonesia PT | 5.315 | 04/14/32 | 2,674 | |||||||||||||
| 3,275,000 | g | GCC SAB de C.V. | 3.614 | 04/20/32 | 2,673 | |||||||||||||
| 5,000,000 | g | SunCoke Energy, Inc | 4.875 | 06/30/29 | 3,996 | |||||||||||||
| TOTAL MATERIALS | 9,343 | |||||||||||||||||
| MEDIA & ENTERTAINMENT - 0.2% | ||||||||||||||||||
| 2,970,000 | g | DISH DBS Corp | 5.250 | 12/01/26 | 2,328 | |||||||||||||
| 5,000,000 | g | EIG Pearl Holdings Sarl | 3.545 | 08/31/36 | 4,251 | |||||||||||||
| 3,260,000 | g | Misc Capital Two Labuan Ltd | 3.750 | 04/06/27 | 3,062 | |||||||||||||
| 5,000,000 | g | Sirius XM Radio, Inc | 3.125 | 09/01/26 | 4,461 | |||||||||||||
| 1,575,000 | TSMC Arizona Corp | 1.750 | 10/25/26 | 1,448 | ||||||||||||||
| 2,000,000 | TSMC Arizona Corp | 4.250 | 04/22/32 | 1,972 | ||||||||||||||
| TOTAL MEDIA & ENTERTAINMENT | 17,522 | |||||||||||||||||
| 366 |
COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0% | ||||||||||||||||||
| $ | 3,400,000 | g | Avantor Funding, Inc | 3.875 | % | 11/01/29 | $ | 2,974 | ||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 2,974 | |||||||||||||||||
| REAL ESTATE - 0.1% | ||||||||||||||||||
| 5,000,000 | g | Howard Hughes Corp | 4.125 | 02/01/29 | 3,856 | |||||||||||||
| 5,000,000 | g | RLJ Lodging Trust LP | 3.750 | 07/01/26 | 4,333 | |||||||||||||
| TOTAL REAL ESTATE | 8,189 | |||||||||||||||||
| RETAILING - 0.0% | ||||||||||||||||||
| 4,340,000 | g | Asbury Automotive Group, Inc | 4.625 | 11/15/29 | 3,586 | |||||||||||||
| TOTAL RETAILING | 3,586 | |||||||||||||||||
| SOFTWARE & SERVICES - 0.1% | ||||||||||||||||||
| 2,435,000 | g | CA Magnum Holdings | 5.375 | 10/31/26 | 2,110 | |||||||||||||
| 2,830,000 | g | Open Text Corp | 3.875 | 12/01/29 | 2,382 | |||||||||||||
| 3,600,000 | g | Prosus NV | 3.257 | 01/19/27 | 3,129 | |||||||||||||
| TOTAL SOFTWARE & SERVICES | 7,621 | |||||||||||||||||
| TELECOMMUNICATION SERVICES - 0.2% | ||||||||||||||||||
| 2,900,000 | e | AT&T, Inc | 2.250 | 02/01/32 | 2,369 | |||||||||||||
| 4,925,000 | g | Iliad Holding SASU | 6.500 | 10/15/26 | 4,433 | |||||||||||||
| 3,000,000 | g | Telefonica Moviles Chile S.A. | 3.537 | 11/18/31 | 2,520 | |||||||||||||
| 3,100,000 | Verizon Communications, Inc | 2.355 | 03/15/32 | 2,570 | ||||||||||||||
| TOTAL TELECOMMUNICATION SERVICES | 11,892 | |||||||||||||||||
| TRANSPORTATION - 0.1% | ||||||||||||||||||
| 5,000,000 | g | Grupo Aeromexico SAB de C.V. | 8.500 | 03/17/27 | 4,808 | |||||||||||||
| 1,700,000 | g | Indian Railway Finance Corp Ltd | 3.570 | 01/21/32 | 1,457 | |||||||||||||
| TOTAL TRANSPORTATION | 6,265 | |||||||||||||||||
| UTILITIES - 0.0% | ||||||||||||||||||
| 1,450,000 | g | Israel Electric Corp Ltd | 3.750 | 02/22/32 | 1,297 | |||||||||||||
| TOTAL UTILITIES | 1,297 | |||||||||||||||||
| TOTAL CORPORATE BONDS | 118,623 | |||||||||||||||||
| (Cost $138,154) | ||||||||||||||||||
| GOVERNMENT BONDS - 95.1% | ||||||||||||||||||
| AGENCY SECURITIES - 0.3% | ||||||||||||||||||
| 14,435,000 | Montefiore Medical Center | 2.895 | 04/20/32 | 14,006 | ||||||||||||||
| 2,631,579 | Reliance Industries Ltd | 2.444 | 01/15/26 | 2,589 | ||||||||||||||
| TOTAL AGENCY SECURITIES | 16,595 | |||||||||||||||||
| MORTGAGE BACKED - 2.5% | ||||||||||||||||||
| 6,225,000 | g,i | Federal Home Loan STACR REMIC Trust | 3.176 | 08/25/33 | 6,114 | |||||||||||||
| 10,000,000 | g,i | Federal Home Loan STACR REMIC Trust | 1.876 | 12/25/41 | 9,672 | |||||||||||||
| 20,000,000 | g,i | Federal Home Loan STACR REMIC Trust | 4.276 | 05/25/42 | 19,014 | |||||||||||||
| 19,199,207 | Government National Mortgage Association (GNMA) | 3.600 | 09/15/31 | 19,138 | ||||||||||||||
| 9,584,347 | GNMA | 3.650 | 02/15/32 | 9,604 | ||||||||||||||
| 367 |
COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 2,178,598 | GNMA | 3.380 | % | 07/15/35 | $ | 2,151 | |||||||||||
| 2,849,212 | GNMA | 3.870 | 10/15/36 | 2,853 | ||||||||||||||
| 36,972,539 | GNMA | 1.730 | 07/15/37 | 33,734 | ||||||||||||||
| 34,188,110 | GNMA | 4.250 | 09/15/38 | 34,580 | ||||||||||||||
| 23,771,193 | GNMA | 1.650 | 07/15/42 | 21,312 | ||||||||||||||
| 25,831,260 | GNMA | 2.750 | 01/15/45 | 25,040 | ||||||||||||||
| 5,213,576 | GNMA | 4.930 | 10/15/45 | 5,220 | ||||||||||||||
| TOTAL MORTGAGE BACKED | 188,432 | |||||||||||||||||
| U.S. TREASURY SECURITIES - 92.3% | ||||||||||||||||||
| 148,446,976 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 07/15/22 | 148,943 | |||||||||||||
| 311,820,210 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 01/15/23 | 317,082 | |||||||||||||
| 205,976,670 | k | United States Treasury Inflation Indexed Bonds | 0.625 | 04/15/23 | 209,493 | |||||||||||||
| 278,849,205 | k | United States Treasury Inflation Indexed Bonds | 0.375 | 07/15/23 | 283,751 | |||||||||||||
| 198,520,905 | k | United States Treasury Inflation Indexed Bonds | 0.625 | 01/15/24 | 201,917 | |||||||||||||
| 233,804,400 | k | United States Treasury Inflation Indexed Bonds | 0.500 | 04/15/24 | 237,037 | |||||||||||||
| 197,819,375 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 07/15/24 | 199,713 | |||||||||||||
| 233,777,800 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 10/15/24 | 235,208 | |||||||||||||
| 223,333,200 | k | United States Treasury Inflation Indexed Bonds | 0.250 | 01/15/25 | 224,685 | |||||||||||||
| 118,094,828 | k | United States Treasury Inflation Indexed Bonds | 2.375 | 01/15/25 | 125,137 | |||||||||||||
| 181,287,720 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 04/15/25 | 181,376 | |||||||||||||
| 241,342,200 | k | United States Treasury Inflation Indexed Bonds | 0.375 | 07/15/25 | 243,759 | |||||||||||||
| 314,153,640 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 10/15/25 | 313,908 | |||||||||||||
| 258,540,004 | k | United States Treasury Inflation Indexed Bonds | 0.625 | 01/15/26 | 261,435 | |||||||||||||
| 77,660,397 | k | United States Treasury Inflation Indexed Bonds | 2.000 | 01/15/26 | 82,247 | |||||||||||||
| 159,820,450 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 04/15/26 | 158,324 | |||||||||||||
| 178,473,200 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 07/15/26 | 177,028 | |||||||||||||
| 299,639,492 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 10/15/26 | 296,908 | |||||||||||||
| 237,529,070 | k | United States Treasury Inflation Indexed Bonds | 0.375 | 01/15/27 | 236,645 | |||||||||||||
| 118,910,716 | k | United States Treasury Inflation Indexed Bonds | 2.375 | 01/15/27 | 129,134 | |||||||||||||
| 127,970,000 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 04/15/27 | 125,995 | |||||||||||||
| 136,481,730 | k | United States Treasury Inflation Indexed Bonds | 0.375 | 07/15/27 | 135,986 | |||||||||||||
| 240,815,175 | k | United States Treasury Inflation Indexed Bonds | 0.500 | 01/15/28 | 239,169 | |||||||||||||
| 237,870,624 | k | United States Treasury Inflation Indexed Bonds | 1.750 | 01/15/28 | 252,490 | |||||||||||||
| 126,933,039 | k | United States Treasury Inflation Indexed Bonds | 3.625 | 04/15/28 | 148,254 | |||||||||||||
| 147,397,120 | k | United States Treasury Inflation Indexed Bonds | 0.750 | 07/15/28 | 148,451 | |||||||||||||
| 216,359,640 | k | United States Treasury Inflation Indexed Bonds | 0.875 | 01/15/29 | 218,377 | |||||||||||||
| 158,731,128 | k | United States Treasury Inflation Indexed Bonds | 2.500 | 01/15/29 | 176,446 | |||||||||||||
| 8,949,849 | k | United States Treasury Inflation Indexed Bonds | 3.875 | 04/15/29 | 10,805 | |||||||||||||
| 211,315,610 | k | United States Treasury Inflation Indexed Bonds | 0.250 | 07/15/29 | 204,898 | |||||||||||||
| 174,140,950 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 01/15/30 | 166,216 | |||||||||||||
| 138,106,500 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 07/15/30 | 131,705 | |||||||||||||
| 168,780,800 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 01/15/31 | 160,535 | |||||||||||||
| 253,939,979 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 07/15/31 | 241,445 | |||||||||||||
| 84,237,073 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 01/15/32 | 79,958 | |||||||||||||
| 67,744,768 | k | United States Treasury Inflation Indexed Bonds | 3.375 | 04/15/32 | 84,624 | |||||||||||||
| 42,633,600 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 02/15/51 | 32,818 | |||||||||||||
| 75,917,714 | k | United States Treasury Inflation Indexed Bonds | 0.125 | 02/15/52 | 58,903 | |||||||||||||
| 25,000,000 | United States Treasury Note | 2.875 | 05/15/32 | 24,719 | ||||||||||||||
| TOTAL U.S. TREASURY SECURITIES | 6,905,524 | |||||||||||||||||
| TOTAL GOVERNMENT BONDS | 7,110,551 | |||||||||||||||||
| (Cost $7,237,520) | ||||||||||||||||||
| 368 |
COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| STRUCTURED ASSETS - 2.6% | ||||||||||||||||||
| ASSET BACKED - 0.4% | ||||||||||||||||||
| $ | 4,214,000 | i | Bayview Financial Mortgage Pass-Through Trust | LIBOR 1 M + 1.125% | 2.758 | % | 02/28/41 | $ | 4,148 | |||||||||
| Series - 2006 A (Class M4) | ||||||||||||||||||
| 2,985,000 | g | DB Master Finance LLC | 2.045 | 11/20/51 | 2,650 | |||||||||||||
| Series - 2021 1A (Class A2I) | ||||||||||||||||||
| 5,870,500 | g | DB Master Finance LLC | 2.493 | 11/20/51 | 5,057 | |||||||||||||
| Series - 2021 1A (Class A2II) | ||||||||||||||||||
| 4,378,000 | g | DB Master Finance LLC | 2.791 | 11/20/51 | 3,607 | |||||||||||||
| Series - 2021 1A (Class A23) | ||||||||||||||||||
| 3,000,000 | †,g | Industrial DPR Funding Ltd | 5.380 | 04/15/34 | 2,923 | |||||||||||||
| Series - 2022 1A (Class 1) | ||||||||||||||||||
| 6,832,225 | g | MVW LLC | 1.830 | 05/20/39 | 6,232 | |||||||||||||
| Series - 2021 2A (Class B) | ||||||||||||||||||
| 6,930,055 | g | Oak Street Investment Grade Net Lease Fund Series | 2.380 | 11/20/51 | 6,276 | |||||||||||||
| Series - 2021 2A (Class A1) | ||||||||||||||||||
| 4,632,619 | g | Sunnova Helios VIII Issuer LLC | 2.790 | 02/22/49 | 4,196 | |||||||||||||
| Series - 2022 A (Class A) | ||||||||||||||||||
| TOTAL ASSET BACKED | 35,089 | |||||||||||||||||
| OTHER MORTGAGE BACKED - 2.2% | ||||||||||||||||||
| 5,000,000 | g,i | BAMLL Commercial Mortgage Securities Trust | 2.429 | 01/15/39 | 4,858 | |||||||||||||
| Series - 2022 DKLX (Class A) | ||||||||||||||||||
| 7,500,000 | g,i | BAMLL Commercial Mortgage Securities Trust | 3.429 | 01/15/39 | 7,209 | |||||||||||||
| Series - 2022 DKLX (Class C) | ||||||||||||||||||
| 2,500,000 | g,i | BAMLL Commercial Mortgage Securities Trust | 4.279 | 01/15/39 | 2,365 | |||||||||||||
| Series - 2022 DKLX (Class D) | ||||||||||||||||||
| 2,000,000 | i | BENCHMARK Mortgage Trust | 4.334 | 02/15/51 | 1,817 | |||||||||||||
| Series - 2018 B2 (Class C) | ||||||||||||||||||
| 26,370,303 | g,i | BX Commercial Mortgage Trust | LIBOR 1 M + 1.197% | 2.521 | 10/15/38 | 24,847 | ||||||||||||
| Series - 2021 XL2 (Class C) | ||||||||||||||||||
| 1,400,193 | g,i | BX Commercial Mortgage Trust | LIBOR 1 M + 1.846% | 3.170 | 10/15/38 | 1,314 | ||||||||||||
| Series - 2021 XL2 (Class E) | ||||||||||||||||||
| 6,000,000 | g,i | BX Commercial Mortgage Trust | LIBOR 1 M + 1.271% | 2.595 | 12/15/38 | 5,729 | ||||||||||||
| Series - 2021 CIP (Class B) | ||||||||||||||||||
| 2,000,000 | g,i | BX Commercial Mortgage Trust | 3.119 | 01/17/39 | 1,925 | |||||||||||||
| Series - 2022 AHP (Class B) | ||||||||||||||||||
| 5,650,000 | g,i | Citigroup Commercial Mortgage Trust | LIBOR 1 M + 1.900% | 3.225 | 10/15/36 | 5,353 | ||||||||||||
| Series - 2021 PRM2 (Class D) | ||||||||||||||||||
| 7,000,000 | g,i | Citigroup Commercial Mortgage Trust | LIBOR 1 M + 2.400% | 3.725 | 10/15/36 | 6,606 | ||||||||||||
| Series - 2021 PRM2 (Class E) | ||||||||||||||||||
| 2,000,000 | g | COMM Mortgage Trust | 3.397 | 03/10/46 | 1,973 | |||||||||||||
| Series - 2013 CR6 (Class B) | ||||||||||||||||||
| 1,000,000 | i | COMM Mortgage Trust | 4.696 | 10/10/47 | 967 | |||||||||||||
| Series - 2014 LC17 (Class C) | ||||||||||||||||||
| 2,500,000 | i | COMM Mortgage Trust | 4.621 | 10/10/48 | 2,452 | |||||||||||||
| Series - 2015 CR26 (Class B) | ||||||||||||||||||
| 5,147,244 | g,i | Connecticut Avenue Securities | 1.826 | 11/25/41 | 5,029 | |||||||||||||
| Series - 2021 R02 (Class 2M1) | ||||||||||||||||||
| 10,000,000 | g,i | Connecticut Avenue Securities Trust | 2.476 | 10/25/41 | 9,275 | |||||||||||||
| Series - 2021 R01 (Class 1M2) | ||||||||||||||||||
| 369 |
COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 9,000,000 | g,i | Connecticut Avenue Securities Trust | 2.576 | % | 12/25/41 | $ | 8,014 | ||||||||||
| Series - 2021 R03 (Class 1M2) | ||||||||||||||||||
| 6,000,000 | g,i | ELP Commercial Mortgage Trust | LIBOR 1 M + 1.320% | 2.645 | 11/15/38 | 5,721 | ||||||||||||
| Series - 2021 ELP (Class C) | ||||||||||||||||||
| 4,500,000 | g,i | ELP Commercial Mortgage Trust | LIBOR 1 M + 2.118% | 3.443 | 11/15/38 | 4,253 | ||||||||||||
| Series - 2021 ELP (Class E) | ||||||||||||||||||
| 5,000,000 | g,i | EQUS Mortgage Trust | LIBOR 1 M + 2.300% | 3.624 | 10/15/38 | 4,623 | ||||||||||||
| Series - 2021 EQAZ (Class E) | ||||||||||||||||||
| 2,347,859 | g,i | Freddie Mac STACR REMIC Trust | 2.576 | 01/25/34 | 2,264 | |||||||||||||
| Series - 2021 DNA5 (Class M2) | ||||||||||||||||||
| 15,000,000 | g,i | Freddie Mac STACR REMIC Trust | 3.426 | 01/25/42 | 12,700 | |||||||||||||
| Series - 2022 DNA1 (Class M2) | ||||||||||||||||||
| 6,431,388 | g,i | Freddie Mac Structured Agency Credit Risk Debt Notes | 1.349 | 02/25/42 | 6,284 | |||||||||||||
| Series - 2022 DNA2 (Class M1A) | ||||||||||||||||||
| 4,000,000 | g,i | GS Mortgage Securities Corp II | LIBOR 1 M + 3.350% | 4.674 | 11/15/36 | 3,788 | ||||||||||||
| Series - 2021 ARDN (Class E) | ||||||||||||||||||
| 2,000,000 | g | JP Morgan Chase Commercial Mortgage Securities Trust | 3.620 | 01/16/37 | 1,849 | |||||||||||||
| Series - 2020 NNN (Class DFX) | ||||||||||||||||||
| 3,986,816 | g,i | Morgan Stanley Capital I Inc | LIBOR 1 M + 1.377% | 2.702 | 11/15/23 | 3,765 | ||||||||||||
| Series - 2021 ILP (Class C) | ||||||||||||||||||
| 2,500,000 | g | MRCD Mortgage Trust | 2.718 | 12/15/36 | 2,280 | |||||||||||||
| Series - 2019 PARK (Class D) | ||||||||||||||||||
| 2,500,000 | g | MRCD Mortgage Trust | 2.718 | 12/15/36 | 2,254 | |||||||||||||
| Series - 2019 PARK (Class E) | ||||||||||||||||||
| 2,500,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 2.200% | 3.524 | 07/15/36 | 2,443 | ||||||||||||
| Series - 2019 MILE (Class C) | ||||||||||||||||||
| 7,716,724 | g,i | SMR Mortgage Trust | 3.679 | 02/15/39 | 7,442 | |||||||||||||
| Series - 2022 IND (Class B) | ||||||||||||||||||
| 2,000,000 | g,i | SREIT Trust | LIBOR 1 M + 1.171% | 2.495 | 11/15/36 | 1,913 | ||||||||||||
| Series - 2021 MFP2 (Class B) | ||||||||||||||||||
| 2,004,699 | g | Verus Securitization Trust | 3.000 | 11/25/59 | 1,992 | |||||||||||||
| Series - 2019 4 (Class A3) | ||||||||||||||||||
| 8,612,252 | g,i | Verus Securitization Trust | 2.240 | 10/25/66 | 7,617 | |||||||||||||
| Series - 2021 7 (Class A3) | ||||||||||||||||||
| 1,951,000 | i | WFRBS Commercial Mortgage Trust | 4.315 | 03/15/45 | 1,928 | |||||||||||||
| Series - 2013 C11 (Class C) | ||||||||||||||||||
| TOTAL OTHER MORTGAGE BACKED | 162,849 | |||||||||||||||||
| TOTAL STRUCTURED ASSETS | 197,938 | |||||||||||||||||
| (Cost $212,800) | ||||||||||||||||||
| TOTAL BONDS | 7,427,112 | |||||||||||||||||
| (Cost $7,588,474) | ||||||||||||||||||
| SHORT-TERM INVESTMENTS - 0.4% | ||||||||||||||||||
| REPURCHASE AGREEMENT - 0.4% | ||||||||||||||||||
| $ | 30,650,000 | r | Fixed Income Clearing Corp (FICC) | 1.450 | 07/01/22 | 30,650 | ||||||||||||
| TOTAL REPURCHASE AGREEMENT | 30,650 | |||||||||||||||||
| SHARES | COMPANY | |||||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.0% | ||||||||||||||||||
| 5,090,795 | c | State Street Navigator Securities Lending Government Money Market Portfolio | 1.540 | 5,091 | ||||||||||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | 5,091 | |||||||||||||||||
| 370 |
COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account
| VALUE (000) | ||||||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | $ | 35,741 | ||||||||||||||||
| (Cost $35,741) | ||||||||||||||||||
| TOTAL INVESTMENTS - 100.1% | 7,499,238 | |||||||||||||||||
| (Cost $7,662,215) | ||||||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - (0.1)% | (10,743 | ) | ||||||||||||||||
| NET ASSETS - 100.0% | $ | 7,488,495 | ||||||||||||||||
| LIBOR | London Interbank Offered Rate | |||||||||||||||||
| M | Month | |||||||||||||||||
| REIT | Real Estate Investment Trust | |||||||||||||||||
| SOFR | Secure Overnight Financing Rate | |||||||||||||||||
| ^ | Amount represents less than $1,000. | |||||||||||||||||
| † | 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 $4,917,438. | |||||||||||||||||
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/22, the aggregate value of these securities is $307,576,955 or 4.1% 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. | |||||||||||||||||
| k | Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index. | |||||||||||||||||
| r | Agreement with Fixed Income Clearing Corp (FICC), 1.450% dated 6/30/22 to be repurchased at $30,650,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rate 0.375% and maturity date 1/31/26, valued at $31,263,022. | |||||||||||||||||
| Cost amounts are in thousands. | ||||||||||||||||||
Futures contracts outstanding as of June 30, 2022 were as follows (dollar amounts are in thousands):
| Description | Number of long (short) contracts | Expiration date | Notional amount | Value | Unrealized appreciation (depreciation) | |||||||||||
| US 10 Year Note | (115 | ) | 09/21/22 | $ | (13,828 | ) | $ | (13,631 | ) | $ | 197 | |||||
| US Long Bond Future | (19 | ) | 09/21/22 | (2,673 | ) | (2,634 | ) | 39 | ||||||||
| Ultra U.S. Treasury Bond | (580 | ) | 09/21/22 | (91,958 | ) | (89,519 | ) | 2,439 | ||||||||
| Total | (714 | ) | $ | (108,459 | ) | $ | (105,784 | ) | $ | 2,675 | ||||||
| 371 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
COLLEGE RETIREMENT EQUITIES FUND
SOCIAL CHOICE ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2022
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| BANK LOAN OBLIGATIONS - 0.2% | ||||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.1% | ||||||||||||||||||
| $ | 15,840,000 | i | LTR Intermediate Holdings, Inc | LIBOR 3M + 4.500% | 5.506 | % | 05/05/28 | $ | 14,467 | |||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 14,467 | |||||||||||||||||
| UTILITIES - 0.1% | ||||||||||||||||||
| 16,940,000 | i | TerraForm Power Operating LLC | SOFR 3M + 2.750% | 4.161 | 05/20/29 | 16,495 | ||||||||||||
| TOTAL UTILITIES | 16,495 | |||||||||||||||||
| TOTAL BANK LOAN OBLIGATIONS | 30,962 | |||||||||||||||||
| (Cost $32,372) | ||||||||||||||||||
| BONDS - 41.5% | ||||||||||||||||||
| CORPORATE BONDS - 15.6% | ||||||||||||||||||
| AUTOMOBILES & COMPONENTS - 0.2% | ||||||||||||||||||
| 9,000,000 | Aptiv plc | 2.396 | 02/18/25 | 8,595 | ||||||||||||||
| 3,500,000 | Dana, Inc | 4.250 | 09/01/30 | 2,717 | ||||||||||||||
| 9,665,000 | Ford Motor Co | 3.250 | 02/12/32 | 7,229 | ||||||||||||||
| 12,925,000 | g | Hyundai Capital Services, Inc | 1.250 | 02/08/26 | 11,624 | |||||||||||||
| TOTAL AUTOMOBILES & COMPONENTS | 30,165 | |||||||||||||||||
| BANKS - 2.2% | ||||||||||||||||||
| 15,000,000 | g | ABN AMRO Bank NV | 2.470 | 12/13/29 | 12,785 | |||||||||||||
| 6,925,000 | g | Banco Nacional de Comercio Exterior SNC | 2.720 | 08/11/31 | 6,078 | |||||||||||||
| 11,575,000 | g | Bank Hapoalim BM | 3.255 | 01/21/32 | 9,897 | |||||||||||||
| 11,985,000 | Bank of America Corp | 0.981 | 09/25/25 | 11,088 | ||||||||||||||
| 14,025,000 | Bank of America Corp | 2.456 | 10/22/25 | 13,359 | ||||||||||||||
| 15,000,000 | i | Bank of America Corp | SOFR + 0.970% | 1.959 | 07/22/27 | 14,300 | ||||||||||||
| 12,500,000 | Bank of America Corp | 2.087 | 06/14/29 | 10,705 | ||||||||||||||
| 15,750,000 | Bank of America Corp | 2.687 | 04/22/32 | 13,222 | ||||||||||||||
| 10,000,000 | Bank of Montreal | 3.803 | 12/15/32 | 9,269 | ||||||||||||||
| 4,350,000 | g | BNP Paribas S.A. | 1.904 | 09/30/28 | 3,717 | |||||||||||||
| 15,300,000 | g | BNP Paribas S.A. | 2.871 | 04/19/32 | 12,649 | |||||||||||||
| 1,825,000 | Canadian Imperial Bank of Commerce | 0.950 | 10/23/25 | 1,646 | ||||||||||||||
| 11,250,000 | Citigroup, Inc | 0.776 | 10/30/24 | 10,725 | ||||||||||||||
| 8,000,000 | Citigroup, Inc | 1.281 | 11/03/25 | 7,428 | ||||||||||||||
| 6,375,000 | i | Citigroup, Inc | SOFR + 0.694% | 1.669 | 01/25/26 | 6,158 | ||||||||||||
| 2,900,000 | Citigroup, Inc | 5.950 | N/A‡ | 2,692 | ||||||||||||||
| 4,345,000 | Citigroup, Inc | 5.000 | N/A‡ | 3,824 | ||||||||||||||
| 5,475,000 | Citizens Bank NA | 2.250 | 04/28/25 | 5,215 | ||||||||||||||
| 13,750,000 | HSBC Holdings plc | 2.206 | 08/17/29 | 11,549 | ||||||||||||||
| 10,000,000 | g | ING Groep NV | 1.400 | 07/01/26 | 9,084 | |||||||||||||
| 10,000,000 | ING Groep NV | 2.727 | 04/01/32 | 8,322 | ||||||||||||||
| 2,714,000 | g | Intesa Sanpaolo S.p.A | 3.375 | 01/12/23 | 2,702 | |||||||||||||
| 372 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 1,825,000 | g | Intesa Sanpaolo S.p.A | 5.017 | % | 06/26/24 | $ | 1,741 | ||||||||||
| 9,750,000 | g | Intesa Sanpaolo S.p.A | 3.250 | 09/23/24 | 9,439 | |||||||||||||
| 6,000,000 | g | Intesa Sanpaolo S.p.A | 4.950 | 06/01/42 | 4,054 | |||||||||||||
| 8,000,000 | e,g | Itau Unibanco Holding S.A. | 3.875 | 04/15/31 | 7,038 | |||||||||||||
| 5,000,000 | JPMorgan Chase & Co | 1.040 | 02/04/27 | 4,422 | ||||||||||||||
| 10,990,000 | JPMorgan Chase & Co | 3.650 | N/A‡ | 9,001 | ||||||||||||||
| 6,575,000 | g | Kookmin Bank | 2.500 | 11/04/30 | 5,541 | |||||||||||||
| 4,000,000 | Lloyds Banking Group plc | 4.500 | 11/04/24 | 3,990 | ||||||||||||||
| 9,494,000 | Lloyds Banking Group plc | 3.870 | 07/09/25 | 9,376 | ||||||||||||||
| 11,125,000 | g | National Australia Bank Ltd | 2.332 | 08/21/30 | 8,943 | |||||||||||||
| 10,000,000 | g | National Australia Bank Ltd | 2.990 | 05/21/31 | 8,356 | |||||||||||||
| 12,638,000 | National Bank of Canada | 0.550 | 11/15/24 | 12,048 | ||||||||||||||
| 2,790,000 | NatWest Group plc | 2.359 | 05/22/24 | 2,740 | ||||||||||||||
| 10,000,000 | People’s United Bank NA | 4.000 | 07/15/24 | 9,945 | ||||||||||||||
| 11,500,000 | SVB Financial Group | 2.100 | 05/15/28 | 9,829 | ||||||||||||||
| 1,925,000 | SVB Financial Group | 3.125 | 06/05/30 | 1,656 | ||||||||||||||
| 12,775,000 | SVB Financial Group | 1.800 | 02/02/31 | 9,843 | ||||||||||||||
| 14,135,000 | SVB Financial Group | 4.100 | N/A‡ | 9,721 | ||||||||||||||
| 11,675,000 | g | UBS Group AG. | 1.494 | 08/10/27 | 10,217 | |||||||||||||
| 5,000,000 | g | UBS Group AG. | 2.746 | 02/11/33 | 4,069 | |||||||||||||
| 15,275,000 | g | UBS Group AG. | 3.179 | 02/11/43 | 11,510 | |||||||||||||
| 15,000,000 | g | UniCredit S.p.A | 2.569 | 09/22/26 | 13,418 | |||||||||||||
| 3,600,000 | g | UniCredit S.p.A | 5.459 | 06/30/35 | 2,909 | |||||||||||||
| 10,000,000 | g | United Overseas Bank Ltd | 2.000 | 10/14/31 | 9,011 | |||||||||||||
| 3,835,000 | g | USAA Capital Corp | 2.125 | 05/01/30 | 3,285 | |||||||||||||
| 12,125,000 | Westpac Banking Corp | 3.020 | 11/18/36 | 9,759 | ||||||||||||||
| TOTAL BANKS | 378,275 | |||||||||||||||||
| CAPITAL GOODS - 0.4% | ||||||||||||||||||
| 10,450,000 | Carrier Global Corp | 2.700 | 02/15/31 | 8,841 | ||||||||||||||
| 10,500,000 | g | FMG Resources August 2006 Pty Ltd | 6.125 | 04/15/32 | 9,450 | |||||||||||||
| 4,150,000 | Johnson Controls International plc | 1.750 | 09/15/30 | 3,374 | ||||||||||||||
| 2,000,000 | g | Korea East-West Power Co Ltd | 3.600 | 05/06/25 | 1,979 | |||||||||||||
| 4,400,000 | Masco Corp | 1.500 | 02/15/28 | 3,692 | ||||||||||||||
| 5,000,000 | Otis Worldwide Corp | 3.112 | 02/15/40 | 3,871 | ||||||||||||||
| 4,975,000 | Parker-Hannifin Corp | 4.200 | 11/21/34 | 4,621 | ||||||||||||||
| 450,000 | Siemens Financieringsmaatschappij NV | 1.200 | 03/11/26 | 407 | ||||||||||||||
| 12,500,000 | g | Siemens Financieringsmaatschappij NV | 1.200 | 03/11/26 | 11,314 | |||||||||||||
| 10,500,000 | g | Triton Container International Ltd | 1.150 | 06/07/24 | 9,830 | |||||||||||||
| 3,500,000 | g | Triton Container International Ltd | 3.150 | 06/15/31 | 2,829 | |||||||||||||
| 3,575,000 | e | Xylem, Inc | 2.250 | 01/30/31 | 2,979 | |||||||||||||
| TOTAL CAPITAL GOODS | 63,187 | |||||||||||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.1% | ||||||||||||||||||
| 6,625,000 | Council Of Europe Development Bank | 3.000 | 06/16/25 | 6,602 | ||||||||||||||
| 7,500,000 | Mather Foundation | 2.675 | 10/01/31 | 6,586 | ||||||||||||||
| 15,810,000 | Rockefeller Foundation | 2.492 | 10/01/50 | 11,494 | ||||||||||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 24,682 | |||||||||||||||||
| CONSUMER DURABLES & APPAREL - 0.0% | ||||||||||||||||||
| 5,950,000 | Whirlpool Corp | 2.400 | 05/15/31 | 4,932 | ||||||||||||||
| TOTAL CONSUMER DURABLES & APPAREL | 4,932 | |||||||||||||||||
| 373 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| CONSUMER SERVICES - 0.7% | ||||||||||||||||||
| $ | 2,900,000 | Bush Foundation | 2.754 | % | 10/01/50 | $ | 2,162 | |||||||||||
| 3,125,000 | Conservation Fund | 3.474 | 12/15/29 | 2,885 | ||||||||||||||
| 10,000,000 | Henry J Kaiser Family Foundation | 3.356 | 12/01/25 | 9,726 | ||||||||||||||
| 5,145,000 | Low Income Investment Fund | 3.711 | 07/01/29 | 4,992 | ||||||||||||||
| 7,725,000 | Massachusetts Higher Education Assistance Corp | 2.673 | 07/01/31 | 6,757 | ||||||||||||||
| 3,440,000 | i | Nature Conservancy | LIBOR 3 M + 1.080% | 2.366 | 02/01/24 | 3,425 | ||||||||||||
| 1,720,000 | Nature Conservancy | 2.668 | 03/01/26 | 1,661 | ||||||||||||||
| 3,000,000 | Nature Conservancy | 3.001 | 03/01/29 | 2,823 | ||||||||||||||
| 5,450,000 | Nature Conservancy | 3.957 | 03/01/52 | 4,994 | ||||||||||||||
| 17,500,000 | New York Public Library Astor Lenox & Tilden Foundations | 4.305 | 07/01/45 | 16,995 | ||||||||||||||
| 9,770,000 | Preservation Of Affordable Housing, Inc | 4.479 | 12/01/32 | 9,499 | ||||||||||||||
| 3,475,000 | Salvation Army | 5.637 | 09/01/26 | 3,665 | ||||||||||||||
| 20,000,000 | Salvation Army | 4.528 | 09/01/48 | 19,162 | ||||||||||||||
| 12,300,000 | Starbucks Corp | 2.450 | 06/15/26 | 11,600 | ||||||||||||||
| 11,440,000 | Wisconsin Alumni Research Foundation | 3.564 | 10/01/49 | 10,083 | ||||||||||||||
| 11,065,000 | YMCA of Greater New York | 5.151 | 08/01/48 | 10,783 | ||||||||||||||
| TOTAL CONSUMER SERVICES | 121,212 | |||||||||||||||||
| DIVERSIFIED FINANCIALS - 1.9% | ||||||||||||||||||
| 9,400,000 | i | AerCap Ireland Capital DAC | SOFR + 0.680% | 2.193 | 09/29/23 | 9,271 | ||||||||||||
| 10,800,000 | AerCap Ireland Capital DAC | 1.750 | 01/30/26 | 9,440 | ||||||||||||||
| 10,500,000 | AerCap Ireland Capital DAC | 3.000 | 10/29/28 | 8,844 | ||||||||||||||
| 8,900,000 | AerCap Ireland Capital DAC | 3.300 | 01/30/32 | 7,124 | ||||||||||||||
| 10,200,000 | e | Ally Financial, Inc | 4.700 | N/A‡ | 8,089 | |||||||||||||
| 12,900,000 | American Express Co | 4.050 | 05/03/29 | 12,648 | ||||||||||||||
| 3,000,000 | g | Banco BTG Pactual S.A. | 2.750 | 01/11/26 | 2,665 | |||||||||||||
| 11,875,000 | g | BPCE S.A. | 1.652 | 10/06/26 | 10,629 | |||||||||||||
| 20,525,000 | g | BPCE S.A. | 2.045 | 10/19/27 | 18,106 | |||||||||||||
| 15,850,000 | g | BPCE S.A. | 3.116 | 10/19/32 | 12,771 | |||||||||||||
| 8,375,000 | e | Charles Schwab Corp | 4.000 | N/A‡ | 6,447 | |||||||||||||
| 11,645,000 | Community Preservation Corp | 2.867 | 02/01/30 | 10,369 | ||||||||||||||
| 5,000,000 | g | Credit Suisse Group AG. | 1.305 | 02/02/27 | 4,301 | |||||||||||||
| 9,750,000 | g | Credit Suisse Group AG. | 3.091 | 05/14/32 | 7,759 | |||||||||||||
| 4,750,000 | Enterprise Community Loan Fund, Inc | 4.152 | 11/01/28 | 4,588 | ||||||||||||||
| 15,000,000 | Ford Foundation | 2.815 | 06/01/70 | 10,313 | ||||||||||||||
| 13,144,000 | Goldman Sachs Group, Inc | 0.855 | 02/12/26 | 11,958 | ||||||||||||||
| 8,300,000 | ING Groep NV | 4.017 | 03/28/28 | 7,905 | ||||||||||||||
| 5,375,000 | ING Groep NV | 4.252 | 03/28/33 | 5,018 | ||||||||||||||
| 2,300,000 | Legg Mason, Inc | 3.950 | 07/15/24 | 2,312 | ||||||||||||||
| 10,000,000 | Morgan Stanley | 0.791 | 01/22/25 | 9,453 | ||||||||||||||
| 11,950,000 | Morgan Stanley | 0.985 | 12/10/26 | 10,587 | ||||||||||||||
| 1,450,000 | Morgan Stanley | 1.512 | 07/20/27 | 1,272 | ||||||||||||||
| 10,000,000 | Morgan Stanley | 2.239 | 07/21/32 | 8,101 | ||||||||||||||
| 14,150,000 | Morgan Stanley | 2.484 | 09/16/36 | 10,880 | ||||||||||||||
| 11,400,000 | g,i | NatWest Markets plc | SOFR + 0.530% | 1.739 | 08/12/24 | 11,277 | ||||||||||||
| 10,000,000 | g | NongHyup Bank | 1.250 | 07/20/25 | 9,239 | |||||||||||||
| 1,295,000 | Reinvestment Fund, Inc | 3.166 | 11/01/23 | 1,274 | ||||||||||||||
| 3,000,000 | Reinvestment Fund, Inc | 3.600 | 02/15/24 | 2,971 | ||||||||||||||
| 10,250,000 | Reinvestment Fund, Inc | 3.366 | 11/01/24 | 10,059 | ||||||||||||||
| 2,570,000 | Reinvestment Fund, Inc | 3.513 | 11/01/25 | 2,506 | ||||||||||||||
| 374 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 15,240,000 | Reinvestment Fund, Inc | 3.880 | % | 02/15/27 | $ | 14,818 | |||||||||||
| 7,435,000 | Reinvestment Fund, Inc | 3.930 | 02/15/28 | 7,194 | ||||||||||||||
| 10,250,000 | g,i | Societe Generale S.A. | SOFR + 1.050% | 1.998 | 01/21/26 | 9,879 | ||||||||||||
| 11,150,000 | g | Societe Generale S.A. | 2.889 | 06/09/32 | 8,903 | |||||||||||||
| 3,125,000 | g | Societe Generale S.A. | 4.027 | 01/21/43 | 2,210 | |||||||||||||
| 4,475,000 | e,g | Starwood Property Trust, Inc | 5.500 | 11/01/23 | 4,425 | |||||||||||||
| 7,900,000 | g | Swiss Re Finance Luxembourg SA | 5.000 | 04/02/49 | 7,469 | |||||||||||||
| 7,787,000 | Toyota Motor Credit Corp | 2.150 | 02/13/30 | 6,741 | ||||||||||||||
| 4,825,000 | g | UBS Group AG | 1.008 | 07/30/24 | 4,672 | |||||||||||||
| 8,475,000 | Unilever Capital Corp | 1.750 | 08/12/31 | 6,987 | ||||||||||||||
| 3,450,000 | g | WLB Asset II B Pte Ltd | 3.950 | 12/10/24 | 3,303 | |||||||||||||
| 5,500,000 | g | WLB Asset II C Pte Ltd | 3.900 | 12/23/25 | 5,263 | |||||||||||||
| 1,925,000 | g | WLB Asset II Pte Ltd | 4.000 | 01/14/24 | 1,889 | |||||||||||||
| TOTAL DIVERSIFIED FINANCIALS | 331,929 | |||||||||||||||||
| ENERGY - 0.7% | ||||||||||||||||||
| 8,000,000 | g | Aker BP ASA | 2.875 | 01/15/26 | 7,563 | |||||||||||||
| 10,000,000 | g | Aker BP ASA | 4.000 | 01/15/31 | 8,982 | |||||||||||||
| 9,875,000 | BP Capital Markets America, Inc | 2.772 | 11/10/50 | 6,851 | ||||||||||||||
| 2,650,000 | e | Cenovus Energy, Inc | 2.650 | 01/15/32 | 2,191 | |||||||||||||
| 6,550,000 | e | Cenovus Energy, Inc | 3.750 | 02/15/52 | 4,976 | |||||||||||||
| 9,575,000 | e | ConocoPhillips Co | 3.800 | 03/15/52 | 8,193 | |||||||||||||
| 9,625,000 | Enbridge, Inc | 2.500 | 01/15/25 | 9,261 | ||||||||||||||
| 5,830,000 | Enbridge, Inc | 5.750 | 07/15/80 | 5,330 | ||||||||||||||
| 8,125,000 | Equinor ASA | 2.375 | 05/22/30 | 7,121 | ||||||||||||||
| 5,932,000 | Equinor ASA | 3.950 | 05/15/43 | 5,264 | ||||||||||||||
| 12,450,000 | Equinor ASA | 3.250 | 11/18/49 | 9,872 | ||||||||||||||
| 3,875,000 | ONEOK, Inc | 4.000 | 07/13/27 | 3,732 | ||||||||||||||
| 6,200,000 | ONEOK, Inc | 4.950 | 07/13/47 | 5,286 | ||||||||||||||
| 11,700,000 | g | Santos Finance Ltd | 3.649 | 04/29/31 | 9,924 | |||||||||||||
| 7,540,000 | e,g | Sunnova Energy Corp | 5.875 | 09/01/26 | 6,560 | |||||||||||||
| 12,850,000 | Total Capital International S.A. | 2.986 | 06/29/41 | 10,123 | ||||||||||||||
| 11,316,000 | Total Capital International S.A. | 3.127 | 05/29/50 | 8,650 | ||||||||||||||
| TOTAL ENERGY | 119,879 | |||||||||||||||||
| FOOD & STAPLES RETAILING - 0.2% | ||||||||||||||||||
| 15,563,000 | SYSCO Corp | 2.400 | 02/15/30 | 13,272 | ||||||||||||||
| 18,954,000 | Walmart, Inc | 1.800 | 09/22/31 | 16,092 | ||||||||||||||
| TOTAL FOOD & STAPLES RETAILING | 29,364 | |||||||||||||||||
| FOOD, BEVERAGE & TOBACCO - 0.2% | ||||||||||||||||||
| 6,150,000 | g | Coca-Cola European Partners plc | 1.500 | 01/15/27 | 5,457 | |||||||||||||
| 10,000,000 | g | NBM US Holdings, Inc | 6.625 | 08/06/29 | 9,600 | |||||||||||||
| 16,674,000 | PepsiCo, Inc | 2.875 | 10/15/49 | 13,239 | ||||||||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO | 28,296 | |||||||||||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 0.1% | ||||||||||||||||||
| 6,900,000 | Cigna Corp | 0.613 | 03/15/24 | 6,571 | ||||||||||||||
| 2,250,000 | Mary Free Bed Rehabilitation Hospital | 3.786 | 04/01/51 | 1,856 | ||||||||||||||
| 10,385,000 | Stanford Health Care | 3.027 | 08/15/51 | 7,906 | ||||||||||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 16,333 | |||||||||||||||||
| 375 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 0.3% | ||||||||||||||||||
| $ | 5,300,000 | Procter & Gamble Co | 3.000 | % | 03/25/30 | $ | 5,001 | |||||||||||
| 12,975,000 | Procter & Gamble Co | 1.200 | 10/29/30 | 10,595 | ||||||||||||||
| 11,075,000 | Unilever Capital Corp | 2.000 | 07/28/26 | 10,421 | ||||||||||||||
| 5,523,000 | Unilever Capital Corp | 2.125 | 09/06/29 | 4,867 | ||||||||||||||
| 6,125,000 | Unilever Capital Corp | 1.375 | 09/14/30 | 4,979 | ||||||||||||||
| 9,425,000 | Unilever Capital Corp | 2.625 | 08/12/51 | 6,812 | ||||||||||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS | 42,675 | |||||||||||||||||
| INSURANCE - 0.6% | ||||||||||||||||||
| 11,450,000 | g | AIA Group Ltd | 3.375 | 04/07/30 | 10,715 | |||||||||||||
| 11,400,000 | g | Empower Finance 2020 LP | 1.357 | 09/17/27 | 9,808 | |||||||||||||
| 4,000,000 | g | Empower Finance 2020 LP | 1.776 | 03/17/31 | 3,208 | |||||||||||||
| 8,178,000 | First American Financial Corp | 2.400 | 08/15/31 | 6,306 | ||||||||||||||
| 3,975,000 | g | Five Corners Funding Trust | 4.419 | 11/15/23 | 3,997 | |||||||||||||
| 15,675,000 | g | Five Corners Funding Trust II | 2.850 | 05/15/30 | 13,636 | |||||||||||||
| 4,700,000 | g | Great-West Lifeco US Finance 2020 LP | 0.904 | 08/12/25 | 4,265 | |||||||||||||
| 1,500,000 | g | HCA, Inc | 4.375 | 03/15/42 | 1,207 | |||||||||||||
| 5,200,000 | g | Muenchener Rueckversicherungs-Gesellschaft AG. in Muenchen | 5.875 | 05/23/42 | 5,226 | |||||||||||||
| 10,000,000 | Principal Financial Group, Inc | 2.125 | 06/15/30 | 8,264 | ||||||||||||||
| 6,504,000 | Prudential Financial, Inc | 1.500 | 03/10/26 | 5,965 | ||||||||||||||
| 2,152,000 | Prudential Financial, Inc | 3.700 | 10/01/50 | 1,801 | ||||||||||||||
| 4,475,000 | Reinsurance Group of America, Inc | 3.900 | 05/15/29 | 4,209 | ||||||||||||||
| 6,100,000 | Reinsurance Group of America, Inc | 3.150 | 06/15/30 | 5,389 | ||||||||||||||
| 14,024,000 | g | Swiss Re Treasury US Corp | 4.250 | 12/06/42 | 12,968 | |||||||||||||
| TOTAL INSURANCE | 96,964 | |||||||||||||||||
| MATERIALS - 0.7% | ||||||||||||||||||
| 10,000,000 | Albemarle Corp | 5.650 | 06/01/52 | 9,997 | ||||||||||||||
| 6,550,000 | e,g | Celulosa Arauco y Constitucion S.A. | 4.200 | 01/29/30 | 5,813 | |||||||||||||
| 10,000,000 | g | Celulosa Arauco y Constitucion S.A. | 5.150 | 01/29/50 | 8,175 | |||||||||||||
| 10,500,000 | Fibria Overseas Finance Ltd | 5.500 | 01/17/27 | 10,411 | ||||||||||||||
| 3,409,000 | International Paper Co | 4.800 | 06/15/44 | 3,200 | ||||||||||||||
| 12,000,000 | g | Inversiones CMPC S.A. | 4.375 | 04/04/27 | 11,430 | |||||||||||||
| 10,000,000 | g | Klabin Austria GmbH | 7.000 | 04/03/49 | 9,081 | |||||||||||||
| 3,250,000 | g | LG Chem Ltd | 3.625 | 04/15/29 | 3,091 | |||||||||||||
| 6,925,000 | LYB International Finance III LLC | 3.375 | 10/01/40 | 5,332 | ||||||||||||||
| 5,000,000 | Newmont Corp | 2.250 | 10/01/30 | 4,150 | ||||||||||||||
| 9,875,000 | PPG Industries, Inc | 1.200 | 03/15/26 | 8,871 | ||||||||||||||
| 11,500,000 | Sonoco Products Co | 1.800 | 02/01/25 | 10,794 | ||||||||||||||
| 5,525,000 | Sonoco Products Co | 2.250 | 02/01/27 | 4,969 | ||||||||||||||
| 12,750,000 | Sonoco Products Co | 2.850 | 02/01/32 | 10,645 | ||||||||||||||
| 12,736,000 | e | Teck Resources Ltd | 3.900 | 07/15/30 | 11,714 | |||||||||||||
| TOTAL MATERIALS | 117,673 | |||||||||||||||||
| MEDIA & ENTERTAINMENT - 0.2% | ||||||||||||||||||
| 10,000,000 | Alphabet, Inc | 1.100 | 08/15/30 | 8,207 | ||||||||||||||
| 6,250,000 | g | Magallanes, Inc | 5.050 | 03/15/42 | 5,318 | |||||||||||||
| 12,025,000 | Paramount Global | 6.375 | 03/30/62 | 10,736 | ||||||||||||||
| 9,100,000 | g | RGA Global Funding | 2.700 | 01/18/29 | 8,051 | |||||||||||||
| TOTAL MEDIA & ENTERTAINMENT | 32,312 | |||||||||||||||||
| 376 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.7% | ||||||||||||||||||
| $ | 10,000,000 | Amgen, Inc | 2.000 | % | 01/15/32 | $ | 8,139 | |||||||||||
| 10,875,000 | Amgen, Inc | 3.000 | 01/15/52 | 7,711 | ||||||||||||||
| 4,800,000 | Bristol-Myers Squibb Co | 2.350 | 11/13/40 | 3,551 | ||||||||||||||
| 7,700,000 | Bristol-Myers Squibb Co | 2.550 | 11/13/50 | 5,447 | ||||||||||||||
| 11,825,000 | Bristol-Myers Squibb Co | 3.700 | 03/15/52 | 10,213 | ||||||||||||||
| 8,975,000 | Danaher Corp | 2.800 | 12/10/51 | 6,465 | ||||||||||||||
| 5,625,000 | Gilead Sciences, Inc | 2.600 | 10/01/40 | 4,112 | ||||||||||||||
| 15,400,000 | Gilead Sciences, Inc | 2.800 | 10/01/50 | 10,747 | ||||||||||||||
| 12,550,000 | Merck & Co, Inc | 2.150 | 12/10/31 | 10,795 | ||||||||||||||
| 8,800,000 | Merck & Co, Inc | 2.750 | 12/10/51 | 6,499 | ||||||||||||||
| 7,000,000 | PerkinElmer, Inc | 2.250 | 09/15/31 | 5,531 | ||||||||||||||
| 5,400,000 | Pfizer, Inc | 1.750 | 08/18/31 | 4,516 | ||||||||||||||
| 10,375,000 | g | Roche Holdings, Inc | 1.930 | 12/13/28 | 9,170 | |||||||||||||
| 9,175,000 | Takeda Pharmaceutical Co Ltd | 4.400 | 11/26/23 | 9,244 | ||||||||||||||
| 14,675,000 | Takeda Pharmaceutical Co Ltd | 2.050 | 03/31/30 | 12,274 | ||||||||||||||
| 8,500,000 | Takeda Pharmaceutical Co Ltd | 3.175 | 07/09/50 | 6,362 | ||||||||||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 120,776 | |||||||||||||||||
| REAL ESTATE - 0.7% | ||||||||||||||||||
| 5,350,000 | Alexandria Real Estate Equities, Inc | 2.950 | 03/15/34 | 4,452 | ||||||||||||||
| 13,400,000 | American Tower Corp | 1.500 | 01/31/28 | 11,142 | ||||||||||||||
| 1,975,000 | Brandywine Operating Partnership LP | 3.950 | 02/15/23 | 1,970 | ||||||||||||||
| 6,225,000 | Brandywine Operating Partnership LP | 3.950 | 11/15/27 | 5,872 | ||||||||||||||
| 9,095,000 | Brixmor Operating Partnership LP | 3.900 | 03/15/27 | 8,700 | ||||||||||||||
| 6,600,000 | Brixmor Operating Partnership LP | 2.250 | 04/01/28 | 5,660 | ||||||||||||||
| 5,975,000 | Corporate Office Properties LP | 2.750 | 04/15/31 | 4,831 | ||||||||||||||
| 2,600,000 | Duke Realty LP | 2.875 | 11/15/29 | 2,336 | ||||||||||||||
| 8,800,000 | Federal Realty Investment Trust | 1.250 | 02/15/26 | 7,873 | ||||||||||||||
| 1,975,000 | e,g | HAT Holdings I LLC | 6.000 | 04/15/25 | 1,891 | |||||||||||||
| 10,970,000 | g | HAT Holdings I LLC | 3.375 | 06/15/26 | 9,434 | |||||||||||||
| 10,000,000 | g | HAT Holdings I LLC | 3.750 | 09/15/30 | 7,975 | |||||||||||||
| 5,125,000 | Healthpeak Properties, Inc | 2.125 | 12/01/28 | 4,426 | ||||||||||||||
| 3,900,000 | e | Host Hotels & Resorts LP | 2.900 | 12/15/31 | 3,096 | |||||||||||||
| 11,075,000 | Kilroy Realty LP | 3.450 | 12/15/24 | 10,800 | ||||||||||||||
| 1,211,000 | Kilroy Realty LP | 2.650 | 11/15/33 | 937 | ||||||||||||||
| 8,550,000 | National Community Renaissance of California | 3.270 | 12/01/32 | 7,154 | ||||||||||||||
| 16,822,000 | Regency Centers LP | 3.750 | 06/15/24 | 16,716 | ||||||||||||||
| 8,245,000 | g | Scentre Group Trust 2 | 5.125 | 09/24/80 | 6,797 | |||||||||||||
| 4,430,000 | g | Starwood Property Trust, Inc | 4.375 | 01/15/27 | 3,846 | |||||||||||||
| TOTAL REAL ESTATE | 125,908 | |||||||||||||||||
| RETAILING - 0.1% | ||||||||||||||||||
| 4,100,000 | Advance Auto Parts, Inc | 1.750 | 10/01/27 | 3,484 | ||||||||||||||
| 3,100,000 | AutoNation, Inc | 3.850 | 03/01/32 | 2,671 | ||||||||||||||
| 6,200,000 | Genuine Parts Co | 1.750 | 02/01/25 | 5,841 | ||||||||||||||
| 1,834,000 | Genuine Parts Co | 1.875 | 11/01/30 | 1,449 | ||||||||||||||
| 7,250,000 | Genuine Parts Co | 2.750 | 02/01/32 | 5,998 | ||||||||||||||
| 5,525,000 | Lowe’s Cos, Inc | 2.800 | 09/15/41 | 4,013 | ||||||||||||||
| TOTAL RETAILING | 23,456 | |||||||||||||||||
| 377 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1% | ||||||||||||||||||
| $ | 7,208,000 | NXP BV | 3.400 | % | 05/01/30 | $ | 6,358 | |||||||||||
| 10,000,000 | g | SK Hynix, Inc | 2.375 | 01/19/31 | 7,876 | |||||||||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 14,234 | |||||||||||||||||
| SOFTWARE & SERVICES - 0.3% | ||||||||||||||||||
| 3,250,000 | Autodesk, Inc | 2.400 | 12/15/31 | 2,653 | ||||||||||||||
| 9,500,000 | Automatic Data Processing, Inc | 1.700 | 05/15/28 | 8,544 | ||||||||||||||
| 10,000,000 | Automatic Data Processing, Inc | 1.250 | 09/01/30 | 8,168 | ||||||||||||||
| 7,725,000 | Mastercard, Inc | 1.900 | 03/15/31 | 6,596 | ||||||||||||||
| 3,400,000 | Roper Technologies, Inc | 1.400 | 09/15/27 | 2,912 | ||||||||||||||
| 7,500,000 | Visa, Inc | 1.900 | 04/15/27 | 6,918 | ||||||||||||||
| 17,000,000 | e | Visa, Inc | 1.100 | 02/15/31 | 13,600 | |||||||||||||
| TOTAL SOFTWARE & SERVICES | 49,391 | |||||||||||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 0.1% | ||||||||||||||||||
| 14,250,000 | Apple, Inc | 3.000 | 06/20/27 | 13,932 | ||||||||||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT | 13,932 | |||||||||||||||||
| TELECOMMUNICATION SERVICES - 0.3% | ||||||||||||||||||
| 9,000,000 | i | Verizon Communications, Inc | SOFR + 0.790% | 2.296 | 03/20/26 | 8,849 | ||||||||||||
| 14,225,000 | Verizon Communications, Inc | 2.550 | 03/21/31 | 12,162 | ||||||||||||||
| 22,950,000 | Verizon Communications, Inc | 3.400 | 03/22/41 | 18,682 | ||||||||||||||
| 1,800,000 | Vodafone Group plc | 3.250 | 06/04/81 | 1,494 | ||||||||||||||
| 10,000,000 | Vodafone Group plc | 4.125 | 06/04/81 | 7,479 | ||||||||||||||
| TOTAL TELECOMMUNICATION SERVICES | 48,666 | |||||||||||||||||
| TRANSPORTATION - 0.1% | ||||||||||||||||||
| 6,950,000 | Canadian Pacific Railway Co | 2.450 | 12/02/31 | 5,946 | ||||||||||||||
| 5,650,000 | Canadian Pacific Railway Co | 3.000 | 12/02/41 | 4,419 | ||||||||||||||
| 8,785,000 | e | Delta Air Lines, Inc | 2.900 | 10/28/24 | 8,120 | |||||||||||||
| 1,083,000 | Vessel Management Services, Inc | 5.125 | 04/16/35 | 1,143 | ||||||||||||||
| TOTAL TRANSPORTATION | 19,628 | |||||||||||||||||
| UTILITIES - 4.7% | ||||||||||||||||||
| 14,114,000 | AES Corp | 2.450 | 01/15/31 | 11,351 | ||||||||||||||
| 14,500,000 | g | AES Gener S.A. | 6.350 | 10/07/79 | 12,814 | |||||||||||||
| 8,500,000 | Algonquin Power & Utilities Corp | 4.750 | 01/18/82 | 7,055 | ||||||||||||||
| 12,325,000 | e | Ameren Illinois Co | 2.900 | 06/15/51 | 9,030 | |||||||||||||
| 3,605,000 | Arizona Public Service Co | 3.750 | 05/15/46 | 2,912 | ||||||||||||||
| 4,500,000 | Atlantic City Electric Co | 2.300 | 03/15/31 | 3,884 | ||||||||||||||
| 14,950,000 | Avangrid, Inc | 3.200 | 04/15/25 | 14,537 | ||||||||||||||
| 13,200,000 | Avangrid, Inc | 3.800 | 06/01/29 | 12,349 | ||||||||||||||
| 10,275,000 | Avista Corp | 4.350 | 06/01/48 | 9,687 | ||||||||||||||
| 5,900,000 | g | Azure Power Solar Energy Pvt Ltd | 5.650 | 12/24/24 | 5,573 | |||||||||||||
| 9,750,000 | g | Brooklyn Union Gas Co | 4.273 | 03/15/48 | 7,966 | |||||||||||||
| 13,500,000 | g | Brooklyn Union Gas Co | 4.487 | 03/04/49 | 11,447 | |||||||||||||
| 9,875,000 | CenterPoint Energy Houston Electric LLC | 2.350 | 04/01/31 | 8,586 | ||||||||||||||
| 12,350,000 | CenterPoint Energy Houston Electric LLC | 3.350 | 04/01/51 | 10,032 | ||||||||||||||
| 378 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 13,675,000 | e,g | Clearway Energy Operating LLC | 3.750 | % | 02/15/31 | $ | 11,025 | ||||||||
| 3,550,000 | CMS Energy Corp | 4.750 | 06/01/50 | 3,111 | ||||||||||||
| 3,100,000 | CMS Energy Corp | 3.750 | 12/01/50 | 2,370 | ||||||||||||
| 11,300,000 | g | Colbun S.A. | 3.150 | 01/19/32 | 9,077 | |||||||||||
| 17,500,000 | Commonwealth Edison Co | 2.750 | 09/01/51 | 12,446 | ||||||||||||
| 7,525,000 | g | Consorcio Transmantaro SA | 4.700 | 04/16/34 | 6,743 | |||||||||||
| 13,876,000 | Consumers Energy Co | 2.500 | 05/01/60 | 8,984 | ||||||||||||
| 5,619,438 | g | Continental Wind LLC | 6.000 | 02/28/33 | 5,964 | |||||||||||
| 4,965,769 | g | Continuum Energy Levanter Pte Ltd | 4.500 | 02/09/27 | 3,918 | |||||||||||
| 7,110,000 | e | Dominion Energy, Inc | 3.600 | 03/15/27 | 6,918 | |||||||||||
| 14,777,000 | Dominion Energy, Inc | 2.250 | 08/15/31 | 12,149 | ||||||||||||
| 8,325,000 | Dominion Energy, Inc | 4.350 | N/A‡ | 6,847 | ||||||||||||
| 4,000,000 | Dominion Energy, Inc (Step Bond) | 3.071 | 08/15/24 | 3,905 | ||||||||||||
| 14,125,000 | DTE Electric Co | 1.900 | 04/01/28 | 12,589 | ||||||||||||
| 9,025,000 | DTE Electric Co | 3.250 | 04/01/51 | 7,261 | ||||||||||||
| 10,000,000 | Duke Energy Florida LLC | 2.500 | 12/01/29 | 8,886 | ||||||||||||
| 4,000,000 | Duke Energy Progress LLC | 3.450 | 03/15/29 | 3,804 | ||||||||||||
| 3,350,000 | g | East Ohio Gas Co | 1.300 | 06/15/25 | 3,080 | |||||||||||
| 8,850,000 | Eastern Energy Gas Holdings LLC | 2.500 | 11/15/24 | 8,549 | ||||||||||||
| 11,625,000 | g | EDP Finance BV | 3.625 | 07/15/24 | 11,541 | |||||||||||
| 20,250,000 | g | Electricite de France S.A. | 3.625 | 10/13/25 | 19,886 | |||||||||||
| 11,735,000 | Essential Utilities, Inc | 2.704 | 04/15/30 | 10,206 | ||||||||||||
| 9,375,000 | Essential Utilities, Inc | 3.351 | 04/15/50 | 7,071 | ||||||||||||
| 12,025,000 | Evergy, Inc | 2.550 | 07/01/26 | 11,395 | ||||||||||||
| 2,800,000 | Eversource Energy | 0.800 | 08/15/25 | 2,527 | ||||||||||||
| 9,885,000 | Georgia Power Co | 3.250 | 04/01/26 | 9,598 | ||||||||||||
| 8,700,000 | Georgia Power Co | 5.125 | 05/15/52 | 8,623 | ||||||||||||
| 8,323,425 | g | India Cleantech Energy | 4.700 | 08/10/26 | 6,722 | |||||||||||
| 9,700,000 | e | Interstate Power & Light Co | 3.500 | 09/30/49 | 7,731 | |||||||||||
| 24,325,000 | g | Korea Hydro & Nuclear Power Co Ltd | 3.750 | 07/25/23 | 24,445 | |||||||||||
| 16,441,000 | g | Liberty Utilities Finance GP | 2.050 | 09/15/30 | 13,481 | |||||||||||
| 5,875,000 | MidAmerican Energy Co | 3.100 | 05/01/27 | 5,671 | ||||||||||||
| 1,000,000 | MidAmerican Energy Co | 3.950 | 08/01/47 | 890 | ||||||||||||
| 3,596,000 | MidAmerican Energy Co | 3.150 | 04/15/50 | 2,815 | ||||||||||||
| 4,300,000 | g | Narragansett Electric Co | 3.919 | 08/01/28 | 4,136 | |||||||||||
| 12,350,000 | National Fuel Gas Co | 5.500 | 01/15/26 | 12,395 | ||||||||||||
| 2,250,000 | National Fuel Gas Co | 3.950 | 09/15/27 | 2,100 | ||||||||||||
| 3,400,000 | e | National Fuel Gas Co | 4.750 | 09/01/28 | 3,339 | |||||||||||
| 11,250,000 | National Fuel Gas Co | 2.950 | 03/01/31 | 9,131 | ||||||||||||
| 11,610,000 | g | New York State Electric & Gas Corp | 2.150 | 10/01/31 | 9,572 | |||||||||||
| 3,000,000 | g | NextEra Energy Operating Partners LP | 4.250 | 07/15/24 | 2,870 | |||||||||||
| 15,309,000 | g | Niagara Mohawk Power Corp | 1.960 | 06/27/30 | 12,666 | |||||||||||
| 9,732,000 | g | Niagara Mohawk Power Corp | 4.278 | 10/01/34 | 9,252 | |||||||||||
| 9,750,000 | g | Niagara Mohawk Power Corp | 4.119 | 11/28/42 | 8,199 | |||||||||||
| 9,700,000 | NiSource, Inc | 5.000 | 06/15/52 | 9,473 | ||||||||||||
| 5,250,000 | Northwest Natural Gas Co | 3.078 | 12/01/51 | 3,964 | ||||||||||||
| 3,000,000 | NorthWestern Corp | 4.176 | 11/15/44 | 2,608 | ||||||||||||
| 16,250,000 | PacifiCorp | 2.900 | 06/15/52 | 11,849 | ||||||||||||
| 1,025,000 | g | Pattern Energy Operations LP | 4.500 | 08/15/28 | 892 | |||||||||||
| 7,113,000 | Piedmont Natural Gas Co, Inc | 3.350 | 06/01/50 | 5,290 | ||||||||||||
| 630,000 | Public Service Co of Colorado | 4.750 | 08/15/41 | 606 | ||||||||||||
| 5,000,000 | Public Service Co of Colorado | 3.200 | 03/01/50 | 3,925 | ||||||||||||
| 379 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 2,975,000 | Public Service Co of New Hampshire | 3.600 | % | 07/01/49 | $ | 2,481 | |||||||||||
| 6,134,000 | Public Service Electric & Gas Co | 3.200 | 08/01/49 | 4,858 | ||||||||||||||
| 19,475,000 | Public Service Enterprise Group, Inc | 0.800 | 08/15/25 | 17,588 | ||||||||||||||
| 10,000,000 | Public Service Enterprise Group, Inc | 1.600 | 08/15/30 | 7,942 | ||||||||||||||
| 10,825,000 | Puget Energy, Inc | 4.224 | 03/15/32 | 9,979 | ||||||||||||||
| 14,000,000 | San Diego Gas & Electric Co | 2.950 | 08/15/51 | 10,323 | ||||||||||||||
| 3,280,000 | SCE Recovery Funding LLC | 1.977 | 11/15/28 | 3,096 | ||||||||||||||
| 7,100,000 | SCE Recovery Funding LLC | 2.943 | 11/15/42 | 6,303 | ||||||||||||||
| 2,640,000 | SCE Recovery Funding LLC | 3.240 | 11/15/46 | 2,200 | ||||||||||||||
| 6,900,000 | e | Sempra Energy | 4.875 | N/A‡ | 6,348 | |||||||||||||
| 6,250,000 | g | Sociedad de Transmision Austral S.A. | 4.000 | 01/27/32 | 4,855 | |||||||||||||
| 21,141,380 | g | Solar Star Funding LLC | 3.950 | 06/30/35 | 21,045 | |||||||||||||
| 20,019,691 | g | Solar Star Funding LLC | 5.375 | 06/30/35 | 21,677 | |||||||||||||
| 5,000,000 | Southern California Edison Co | 3.450 | 02/01/52 | 3,721 | ||||||||||||||
| 10,000,000 | Southern Power Co | 4.150 | 12/01/25 | 10,010 | ||||||||||||||
| 14,825,000 | Southwestern Electric Power Co | 3.250 | 11/01/51 | 10,970 | ||||||||||||||
| 5,613,000 | Southwestern Public Service Co | 3.750 | 06/15/49 | 4,729 | ||||||||||||||
| 18,650,000 | Southwestern Public Service Co | 3.150 | 05/01/50 | 14,237 | ||||||||||||||
| 25,174,620 | g | Star Energy Geothermal Wayang Windu Ltd | 6.750 | 04/24/33 | 23,677 | |||||||||||||
| 15,750,000 | g | Sweihan PV Power Co PJSC | 3.625 | 01/31/49 | 13,026 | |||||||||||||
| 18,000,000 | g | TerraForm Power Operating LLC | 5.000 | 01/31/28 | 16,303 | |||||||||||||
| 18,111,942 | g | Topaz Solar Farms LLC | 4.875 | 09/30/39 | 15,622 | |||||||||||||
| 10,170,190 | g | Topaz Solar Farms LLC | 5.750 | 09/30/39 | 9,229 | |||||||||||||
| 5,000,000 | Tucson Electric Power Co | 1.500 | 08/01/30 | 3,988 | ||||||||||||||
| 8,305,191 | g | UEP Penonome II S.A. | 6.500 | 10/01/38 | 7,734 | |||||||||||||
| 15,000,000 | Union Electric Co | 2.150 | 03/15/32 | 12,459 | ||||||||||||||
| 8,325,000 | Union Electric Co | 2.625 | 03/15/51 | 5,772 | ||||||||||||||
| 6,275,000 | Union Electric Co | 3.900 | 04/01/52 | 5,520 | ||||||||||||||
| 1,850,000 | g | Vistra Corp | 7.000 | N/A‡ | 1,679 | |||||||||||||
| TOTAL UTILITIES | 797,089 | |||||||||||||||||
| TOTAL CORPORATE BONDS | 2,650,958 | |||||||||||||||||
| (Cost $3,044,346) | ||||||||||||||||||
| GOVERNMENT BONDS - 21.1% | ||||||||||||||||||
| AGENCY SECURITIES - 1.7% | ||||||||||||||||||
| 3,787,000 | Canal Barge Co, Inc | 4.500 | 11/12/34 | 3,883 | ||||||||||||||
| 13,323,954 | Crowley Conro LLC | 4.181 | 08/15/43 | 13,518 | ||||||||||||||
| 879,936 | DY7 Leasing LLC | 2.578 | 12/10/25 | 867 | ||||||||||||||
| 5,379,978 | Ethiopian Leasing LLC | 2.566 | 08/14/26 | 5,232 | ||||||||||||||
| 23,000,000 | Federal Home Loan Mortgage Corp (FHLMC) | 0.375 | 05/05/23 | 22,511 | ||||||||||||||
| 18,700,000 | FHLMC | 0.250 | 08/24/23 | 18,134 | ||||||||||||||
| 13,650,000 | FHLMC | 0.250 | 09/08/23 | 13,226 | ||||||||||||||
| 23,636,000 | FHLMC | 0.250 | 12/04/23 | 22,742 | ||||||||||||||
| 20,000,000 | Federal National Mortgage Association (FNMA) | 0.250 | 07/10/23 | 19,470 | ||||||||||||||
| 8,000,000 | FNMA | 0.625 | 04/22/25 | 7,481 | ||||||||||||||
| 18,880,000 | FNMA | 0.875 | 08/05/30 | 15,620 | ||||||||||||||
| 5,950,000 | Hashemite Kingdom of Jordan Government AID Bond | 3.000 | 06/30/25 | 5,906 | ||||||||||||||
| 3,750,000 | i | India Government AID Bond | LIBOR 3 M + 0.100% | 1.386 | 02/01/27 | 3,645 | ||||||||||||
| 3,105,000 | Lutheran Medical Center | 1.982 | 02/20/30 | 2,862 | ||||||||||||||
| 15,240,000 | Montefiore Medical Center | 2.895 | 04/20/32 | 14,787 | ||||||||||||||
| 380 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 655,868 | Overseas Private Investment Corp (OPIC) | 2.040 | % | 12/15/26 | $ | 644 | |||||||||||
| 11,237,074 | OPIC | 3.220 | 09/15/29 | 11,168 | ||||||||||||||
| 5,038,383 | OPIC | 1.790 | 10/15/29 | 4,739 | ||||||||||||||
| 15,744,948 | OPIC | 2.360 | 10/15/29 | 15,142 | ||||||||||||||
| 1,864,699 | OPIC | 2.610 | 04/15/30 | 1,812 | ||||||||||||||
| 2,598,250 | OPIC | 2.930 | 05/15/30 | 2,547 | ||||||||||||||
| 4,293,950 | OPIC | 3.040 | 05/15/30 | 4,227 | ||||||||||||||
| 11,066,372 | OPIC | 3.430 | 06/01/33 | 10,993 | ||||||||||||||
| 5,242,797 | OPIC | 2.450 | 07/15/38 | 4,760 | ||||||||||||||
| 25,312,000 | Private Export Funding Corp (PEFCO) | 2.050 | 11/15/22 | 25,261 | ||||||||||||||
| 4,000,000 | PEFCO | 3.550 | 01/15/24 | 4,029 | ||||||||||||||
| 8,000,000 | PEFCO | 3.250 | 06/15/25 | 8,003 | ||||||||||||||
| 12,497,756 | Thirax LLC | 0.968 | 01/14/33 | 10,861 | ||||||||||||||
| 3,927,463 | Thirax 2 LLC | 2.320 | 01/22/34 | 3,623 | ||||||||||||||
| 1,775,000 | United States International Development Finance Corp | 1.440 | 04/15/28 | 1,609 | ||||||||||||||
| 1,000,000 | United States International Development Finance Corp | 1.650 | 04/15/28 | 916 | ||||||||||||||
| 8,495,272 | United States International Development Finance Corp | 1.630 | 07/15/38 | 7,228 | ||||||||||||||
| 2,386,000 | US Department of Housing and Urban Development (HUD) | 2.910 | 08/01/23 | 2,386 | ||||||||||||||
| 5,000,000 | HUD | 3.535 | 08/01/36 | 5,073 | ||||||||||||||
| TOTAL AGENCY SECURITIES | 294,905 | |||||||||||||||||
| FOREIGN GOVERNMENT BONDS - 3.4% | ||||||||||||||||||
| 12,750,000 | African Development Bank | 0.750 | 04/03/23 | 12,553 | ||||||||||||||
| 11,850,000 | g | Arab Petroleum Investments Corp | 1.483 | 10/06/26 | 10,712 | |||||||||||||
| 8,305,000 | Asian Development Bank | 1.875 | 08/10/22 | 8,305 | ||||||||||||||
| 9,500,000 | Asian Development Bank | 2.125 | 03/19/25 | 9,252 | ||||||||||||||
| 6,500,000 | Asian Development Bank | 1.750 | 08/14/26 | 6,138 | ||||||||||||||
| 19,194,000 | Asian Development Bank | 3.125 | 09/26/28 | 19,048 | ||||||||||||||
| 12,500,000 | Asian Development Bank | 1.500 | 03/04/31 | 10,910 | ||||||||||||||
| EUR | 7,925,000 | g | Banque Ouest Africaine de Developpement | 2.750 | 01/22/33 | 6,537 | ||||||||||||
| $ | 12,400,000 | g | BNG Bank NV | 2.625 | 02/27/24 | 12,301 | ||||||||||||
| CLP | 9,475,000,000 | g | Bonos de la Tesoreria de la Republica en pesos | 2.300 | 10/01/28 | 8,206 | ||||||||||||
| $ | 1,900,000 | g | Caisse d’Amortissement de la Dette Sociale | 0.625 | 02/18/26 | 1,731 | ||||||||||||
| 4,750,000 | g | Caisse d’Amortissement de la Dette Sociale | 1.375 | 01/20/31 | 4,042 | |||||||||||||
| 21,980,000 | Canada Government International Bond | 2.875 | 04/28/25 | 21,825 | ||||||||||||||
| 7,000,000 | g | CDP Financial, Inc | 1.000 | 05/26/26 | 6,408 | |||||||||||||
| 10,075,000 | Chile Government International Bond | 3.100 | 05/07/41 | 7,666 | ||||||||||||||
| 9,500,000 | Chile Government International Bond | 3.500 | 01/25/50 | 7,257 | ||||||||||||||
| 15,000,000 | g | Development Bank of Japan, Inc | 0.500 | 03/04/24 | 14,340 | |||||||||||||
| 9,925,000 | g | Egypt Government International Bond | 5.250 | 10/06/25 | 8,119 | |||||||||||||
| 19,500,000 | European Bank for Reconstruction & Development | 1.625 | 09/27/24 | 18,901 | ||||||||||||||
| 3,750,000 | European Investment Bank | 2.375 | 05/24/27 | 3,619 | ||||||||||||||
| 3,725,000 | European Investment Bank | 0.625 | 10/21/27 | 3,266 | ||||||||||||||
| 11,600,000 | e | European Investment Bank | 1.625 | 10/09/29 | 10,487 | |||||||||||||
| 19,749,000 | European Investment Bank | 0.750 | 09/23/30 | 16,380 | ||||||||||||||
| 2,000,000 | European Investment Bank | 4.875 | 02/15/36 | 2,334 | ||||||||||||||
| 1,925,000 | g | Guatemala Government International Bond | 5.375 | 04/24/32 | 1,768 | |||||||||||||
| 10,625,000 | Inter-American Investment Corp | 2.625 | 04/22/25 | 10,449 | ||||||||||||||
| 381 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 11,000,000 | International Bank for Reconstruction & Development | 0.625 | % | 04/22/25 | $ | 10,266 | |||||||||||
| 14,750,000 | International Bank for Reconstruction & Development | 3.125 | 11/20/25 | 14,752 | ||||||||||||||
| 20,150,000 | j | International Bank for Reconstruction & Development | 0.000 | 03/31/27 | 18,435 | |||||||||||||
| 27,150,000 | g | International Development Association | 2.750 | 04/24/23 | 27,091 | |||||||||||||
| 6,750,000 | International Finance Corp | 2.000 | 10/24/22 | 6,742 | ||||||||||||||
| 7,375,000 | International Finance Corp | 0.500 | 03/20/23 | 7,251 | ||||||||||||||
| 33,500,000 | e | International Finance Corp | 2.125 | 04/07/26 | 32,251 | |||||||||||||
| 8,750,000 | Japan International Cooperation Agency | 1.750 | 04/28/31 | 7,556 | ||||||||||||||
| 12,500,000 | g | Kommunalbanken AS. | 2.125 | 02/11/25 | 12,191 | |||||||||||||
| 8,750,000 | i | Korea Development Bank International Bond | LIBOR 3 M + 0.725% | 1.694 | 07/06/22 | 8,750 | ||||||||||||
| 10,100,000 | g | Korea Electric Power Corp | 1.125 | 06/15/25 | 9,351 | |||||||||||||
| 9,200,000 | i | Kreditanstalt fuer Wiederaufbau | SOFR + 1.000% | 2.169 | 02/12/24 | 9,331 | ||||||||||||
| 11,250,000 | Kreditanstalt fuer Wiederaufbau | 0.250 | 03/08/24 | 10,732 | ||||||||||||||
| 9,537,000 | Kreditanstalt fuer Wiederaufbau | 1.000 | 10/01/26 | 8,736 | ||||||||||||||
| 13,000,000 | Landwirtschaftliche Rentenbank | 0.875 | 09/03/30 | 10,855 | ||||||||||||||
| 18,250,000 | e,g | Nederlandse Waterschapsbank NV | 1.750 | 01/15/25 | 17,649 | |||||||||||||
| 19,000,000 | g | Nederlandse Waterschapsbank NV | 2.375 | 03/24/26 | 18,417 | |||||||||||||
| 11,250,000 | g | OMERS Finance Trust | 3.500 | 04/19/32 | 10,969 | |||||||||||||
| 8,000,000 | g | OMERS Finance Trust | 4.000 | 04/19/52 | 7,475 | |||||||||||||
| 17,800,000 | g | Perusahaan Penerbit SBSN Indonesia III | 3.750 | 03/01/23 | 17,840 | |||||||||||||
| 10,500,000 | g | Perusahaan Penerbit SBSN Indonesia III | 3.900 | 08/20/24 | 10,520 | |||||||||||||
| 10,690,000 | Peruvian Government International Bond | 3.000 | 01/15/34 | 8,769 | ||||||||||||||
| 12,700,000 | Province of Manitoba Canada | 3.050 | 05/14/24 | 12,664 | ||||||||||||||
| 10,000,000 | Province of Quebec Canada | 2.750 | 04/12/27 | 9,762 | ||||||||||||||
| 5,000,000 | Province of Quebec Canada | 7.500 | 09/15/29 | 6,224 | ||||||||||||||
| 15,250,000 | Province of Quebec Canada | 1.900 | 04/21/31 | 13,423 | ||||||||||||||
| 10,000,000 | Republic of Italy Government International Bond | 2.875 | 10/17/29 | 8,780 | ||||||||||||||
| 7,750,000 | Republic of Italy Government International Bond | 4.000 | 10/17/49 | 6,409 | ||||||||||||||
| TOTAL FOREIGN GOVERNMENT BONDS | 585,745 | |||||||||||||||||
| MORTGAGE BACKED - 7.0% | ||||||||||||||||||
| 5,780,000 | g,i | Connecticut Avenue Securities Trust | 2.826 | 12/25/41 | 5,207 | |||||||||||||
| 3,000,000 | g,i | Connecticut Avenue Securities Trust | 5.426 | 01/25/42 | 2,630 | |||||||||||||
| 7,995,000 | g,i | Connecticut Avenue Securities Trust | 4.026 | 03/25/42 | 7,476 | |||||||||||||
| 13,610,000 | g,i | Connecticut Avenue Securities Trust | 4.798 | 05/25/42 | 13,236 | |||||||||||||
| 7,120,000 | g,i | Fannie CAS | 5.576 | 06/25/42 | 7,147 | |||||||||||||
| 100,616 | Federal Home Loan Mortgage Corp (FHLMC) | 4.000 | 06/01/42 | 101 | ||||||||||||||
| 1,042,998 | i | FHLMC | LIBOR 1 M + 5.920% | 4.596 | 03/15/44 | 130 | ||||||||||||
| 3,351,496 | FHLMC | 4.000 | 10/01/47 | 3,368 | ||||||||||||||
| 1,966,798 | FHLMC | 4.000 | 06/01/48 | 1,972 | ||||||||||||||
| 3,535,632 | i | FHLMC | LIBOR 1 M + 9.920% | 7.802 | 06/15/48 | 3,621 | ||||||||||||
| 3,299,996 | FHLMC | 4.000 | 07/01/48 | 3,307 | ||||||||||||||
| 2,439,467 | i | FHLMC | LIBOR 1 M + 9.840% | 7.722 | 10/15/48 | 2,433 | ||||||||||||
| 9,540,658 | FHLMC | 3.000 | 11/01/49 | 8,987 | ||||||||||||||
| 9,795,326 | FHLMC | 2.000 | 09/25/50 | 1,155 | ||||||||||||||
| 18,006,981 | FHLMC | 2.500 | 02/25/51 | 2,901 | ||||||||||||||
| 12,968,074 | FHLMC | 3.000 | 11/01/51 | 12,265 | ||||||||||||||
| 1,530,957 | FHLMC | 3.000 | 11/01/51 | 1,439 | ||||||||||||||
| 382 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 1,387,054 | FHLMC | 3.000 | % | 11/01/51 | $ | 1,319 | |||||||||||
| 1,847,903 | FHLMC | 3.000 | 11/01/51 | 1,747 | ||||||||||||||
| 19,964,834 | FHLMC | 2.000 | 02/01/52 | 17,404 | ||||||||||||||
| 24,197,758 | FHLMC | 2.500 | 02/01/52 | 21,859 | ||||||||||||||
| 22,236,344 | FHLMC | 2.500 | 03/01/52 | 20,084 | ||||||||||||||
| 17,089,675 | FHLMC | 2.500 | 03/01/52 | 15,443 | ||||||||||||||
| 2,884,530 | FHLMC | 3.000 | 04/01/52 | 2,696 | ||||||||||||||
| 209 | Federal Home Loan Mortgage Corp Gold (FGLMC) | 7.000 | 05/01/23 | 0 | ^ | |||||||||||||
| 3,930 | FGLMC | 8.000 | 01/01/31 | 4 | ||||||||||||||
| 115,628 | FGLMC | 4.500 | 07/01/33 | 119 | ||||||||||||||
| 841,601 | FGLMC | 7.000 | 12/01/33 | 906 | ||||||||||||||
| 240,347 | FGLMC | 7.000 | 05/01/35 | 256 | ||||||||||||||
| 538,387 | FGLMC | 5.000 | 06/01/36 | 567 | ||||||||||||||
| 153,838 | FGLMC | 5.000 | 07/01/39 | 162 | ||||||||||||||
| 286,715 | FGLMC | 4.500 | 10/01/44 | 295 | ||||||||||||||
| 331,713 | FGLMC | 4.500 | 11/01/44 | 339 | ||||||||||||||
| 484,900 | FGLMC | 4.500 | 11/01/44 | 499 | ||||||||||||||
| 265,391 | FGLMC | 4.500 | 12/01/44 | 272 | ||||||||||||||
| 405,743 | FGLMC | 4.500 | 12/01/44 | 417 | ||||||||||||||
| 1,168,334 | FGLMC | 3.500 | 04/01/45 | 1,149 | ||||||||||||||
| 4,687,716 | FGLMC | 3.500 | 10/01/45 | 4,595 | ||||||||||||||
| 4,246,619 | FGLMC | 4.000 | 12/01/45 | 4,291 | ||||||||||||||
| 612,819 | FGLMC | 4.500 | 06/01/47 | 634 | ||||||||||||||
| 1,247,600 | FGLMC | 4.000 | 09/01/47 | 1,256 | ||||||||||||||
| 882,031 | FGLMC | 3.500 | 12/01/47 | 863 | ||||||||||||||
| 1,224,299 | FGLMC | 4.000 | 07/01/48 | 1,228 | ||||||||||||||
| 3,742,681 | FGLMC | 4.500 | 08/01/48 | 3,823 | ||||||||||||||
| 2,523 | Federal National Mortgage Association (FNMA) | 8.000 | 07/01/24 | 3 | ||||||||||||||
| 13,948,349 | i | FNMA | 2.885 | 02/25/27 | 13,589 | |||||||||||||
| 3,183,362 | i | FNMA | 3.412 | 06/25/28 | 3,151 | |||||||||||||
| 15,250,000 | i | FNMA | 1.561 | 11/25/30 | 12,867 | |||||||||||||
| 15,500,000 | i | FNMA | 1.292 | 01/25/31 | 12,803 | |||||||||||||
| 1,227,084 | FNMA | 3.500 | 05/01/32 | 1,230 | ||||||||||||||
| 33,045,000 | h | FNMA | 2.500 | 07/25/32 | 31,555 | |||||||||||||
| 1,392,029 | FNMA | 3.000 | 10/01/32 | 1,380 | ||||||||||||||
| 1,341,191 | FNMA | 5.000 | 05/01/35 | 1,410 | ||||||||||||||
| 894,562 | FNMA | 5.000 | 10/01/35 | 941 | ||||||||||||||
| 668,460 | FNMA | 5.000 | 02/01/36 | 704 | ||||||||||||||
| 23,740,000 | h | FNMA | 3.000 | 07/25/37 | 23,194 | |||||||||||||
| 8,200,000 | h | FNMA | 3.500 | 07/25/37 | 8,149 | |||||||||||||
| 1,251,526 | FNMA | 5.500 | 11/01/38 | 1,344 | ||||||||||||||
| 167,338 | FNMA | 3.000 | 05/01/40 | 159 | ||||||||||||||
| 530,374 | FNMA | 5.000 | 09/01/40 | 558 | ||||||||||||||
| 1,228,352 | FNMA | 5.000 | 05/01/41 | 1,293 | ||||||||||||||
| 15,226,053 | FNMA | 2.000 | 03/01/42 | 13,535 | ||||||||||||||
| 843,423 | FNMA | 4.000 | 09/01/42 | 847 | ||||||||||||||
| 1,719,279 | i | FNMA | LIBOR 1 M + 5.950% | 4.326 | 09/25/43 | 237 | ||||||||||||
| 396,289 | FNMA | 4.000 | 01/01/44 | 400 | ||||||||||||||
| 1,360,176 | FNMA | 4.500 | 03/01/44 | 1,402 | ||||||||||||||
| 327,894 | FNMA | 4.500 | 06/01/44 | 337 | ||||||||||||||
| 4,105,043 | FNMA | 4.500 | 06/01/44 | 4,216 | ||||||||||||||
| 938,599 | FNMA | 4.500 | 08/01/44 | 964 | ||||||||||||||
| 2,369,525 | FNMA | 4.500 | 10/01/44 | 2,433 | ||||||||||||||
| 383 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 4,105,466 | FNMA | 4.500 | % | 11/01/44 | $ | 4,202 | |||||||||||
| 769,043 | FNMA | 5.000 | 11/01/44 | 809 | ||||||||||||||
| 1,114,785 | FNMA | 4.500 | 12/01/44 | 1,145 | ||||||||||||||
| 445,398 | FNMA | 4.000 | 01/01/45 | 447 | ||||||||||||||
| 194,276 | FNMA | 4.500 | 03/01/45 | 198 | ||||||||||||||
| 298,347 | FNMA | 4.500 | 04/01/45 | 306 | ||||||||||||||
| 2,332,406 | FNMA | 3.500 | 05/01/45 | 2,298 | ||||||||||||||
| 1,165,921 | FNMA | 4.000 | 12/01/45 | 1,174 | ||||||||||||||
| 3,384,159 | FNMA | 3.500 | 01/01/46 | 3,309 | ||||||||||||||
| 4,007,649 | FNMA | 4.000 | 01/01/46 | 4,036 | ||||||||||||||
| 674,277 | FNMA | 4.000 | 04/01/46 | 677 | ||||||||||||||
| 3,796,322 | FNMA | 3.500 | 06/01/46 | 3,712 | ||||||||||||||
| 2,487,869 | FNMA | 3.500 | 07/01/46 | 2,433 | ||||||||||||||
| 4,217,876 | FNMA | 3.500 | 07/01/46 | 4,145 | ||||||||||||||
| 1,138,050 | FNMA | 3.500 | 08/01/46 | 1,113 | ||||||||||||||
| 338,971 | FNMA | 3.000 | 10/01/46 | 314 | ||||||||||||||
| 3,060,023 | FNMA | 3.500 | 10/01/46 | 2,992 | ||||||||||||||
| 5,771,949 | FNMA | 3.500 | 01/01/47 | 5,644 | ||||||||||||||
| 1,278,640 | FNMA | 4.500 | 05/01/47 | 1,320 | ||||||||||||||
| 1,849,751 | FNMA | 4.000 | 10/01/47 | 1,851 | ||||||||||||||
| 265,484 | FNMA | 3.500 | 11/01/47 | 261 | ||||||||||||||
| 316,772 | FNMA | 4.500 | 11/01/47 | 323 | ||||||||||||||
| 2,790,363 | FNMA | 4.000 | 12/01/47 | 2,797 | ||||||||||||||
| 3,404,801 | FNMA | 3.500 | 01/01/48 | 3,328 | ||||||||||||||
| 2,291,389 | FNMA | 4.500 | 01/01/48 | 2,338 | ||||||||||||||
| 1,850,998 | FNMA | 4.500 | 02/01/48 | 1,889 | ||||||||||||||
| 2,076,645 | FNMA | 4.000 | 03/01/48 | 2,081 | ||||||||||||||
| 7,477,937 | FNMA | 4.500 | 03/01/48 | 7,631 | ||||||||||||||
| 1,204,390 | FNMA | 4.500 | 05/01/48 | 1,230 | ||||||||||||||
| 1,592,607 | FNMA | 4.500 | 05/01/48 | 1,626 | ||||||||||||||
| 2,898,273 | FNMA | 5.000 | 08/01/48 | 3,026 | ||||||||||||||
| 54,740,000 | h | FNMA | 4.000 | 07/25/49 | 53,978 | |||||||||||||
| 28,500,000 | h | FNMA | 4.500 | 07/25/49 | 28,608 | |||||||||||||
| 13,708,921 | FNMA | 3.000 | 07/01/50 | 12,890 | ||||||||||||||
| 5,870,047 | FNMA | 2.000 | 08/25/50 | 829 | ||||||||||||||
| 15,493,774 | FNMA | 2.500 | 11/25/50 | 2,242 | ||||||||||||||
| 4,330,364 | FNMA | 3.000 | 02/25/51 | 870 | ||||||||||||||
| 39,721,687 | FNMA | 2.000 | 04/01/51 | 34,528 | ||||||||||||||
| 4,898,778 | FNMA | 3.000 | 09/01/51 | 4,614 | ||||||||||||||
| 5,336,945 | FNMA | 2.500 | 11/25/51 | 765 | ||||||||||||||
| 23,948,218 | FNMA | 2.000 | 12/01/51 | 20,877 | ||||||||||||||
| 6,658,081 | FNMA | 2.000 | 01/01/52 | 5,820 | ||||||||||||||
| 9,334,825 | FNMA | 2.500 | 01/01/52 | 8,431 | ||||||||||||||
| 855,192 | FNMA | 3.000 | 01/01/52 | 801 | ||||||||||||||
| 18,926,158 | FNMA | 2.000 | 02/01/52 | 16,499 | ||||||||||||||
| 14,600,389 | FNMA | 2.500 | 02/01/52 | 13,194 | ||||||||||||||
| 32,116,734 | FNMA | 2.500 | 02/01/52 | 29,001 | ||||||||||||||
| 25,318,619 | FNMA | 2.500 | 02/01/52 | 22,857 | ||||||||||||||
| 15,248,478 | FNMA | 2.500 | 02/01/52 | 13,763 | ||||||||||||||
| 5,294,043 | FNMA | 3.500 | 02/01/52 | 5,132 | ||||||||||||||
| 13,084,770 | FNMA | 2.000 | 03/01/52 | 11,378 | ||||||||||||||
| 18,539,487 | FNMA | 2.000 | 03/01/52 | 16,109 | ||||||||||||||
| 2,111,322 | FNMA | 2.500 | 04/01/52 | 1,904 | ||||||||||||||
| 384 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 26,423,899 | FNMA | 3.000 | % | 04/01/52 | $ | 24,717 | |||||||||||
| 3,265,027 | FNMA | 3.000 | 04/01/52 | 3,053 | ||||||||||||||
| 4,308,646 | FNMA | 3.000 | 04/01/52 | 4,026 | ||||||||||||||
| 45,481,458 | FNMA | 3.000 | 04/01/52 | 42,555 | ||||||||||||||
| 33,382,141 | FNMA | 3.000 | 04/01/52 | 31,226 | ||||||||||||||
| 13,954,128 | FNMA | 3.500 | 05/01/52 | 13,448 | ||||||||||||||
| 24,489,444 | FNMA | 4.000 | 05/01/52 | 24,178 | ||||||||||||||
| 2,291,940 | FNMA | 4.000 | 06/01/52 | 2,263 | ||||||||||||||
| 1,545,000 | h | FNMA | 4.000 | 07/01/52 | 1,526 | |||||||||||||
| 28,380,000 | h | FNMA | 3.500 | 07/25/52 | 27,291 | |||||||||||||
| 31,790,000 | h | FNMA | 5.000 | 07/25/52 | 32,446 | |||||||||||||
| 5,000,000 | h | FNMA | 5.000 | 08/25/52 | 5,088 | |||||||||||||
| 2,075,000 | g,i | Federal Home Loan STACR REMIC Trust | 4.326 | 10/25/41 | 1,775 | |||||||||||||
| 2,490,000 | g,i | Federal Home Loan STACR REMIC Trust | 4.426 | 03/25/42 | 2,378 | |||||||||||||
| 19,370,000 | g,i | Federal Home Loan STACR REMIC Trust | 4.276 | 05/25/42 | 18,415 | |||||||||||||
| 3,165,000 | g,i | Federal Home Loan Structured Agency Credit Risk Debt Notes (STACR) | 3.226 | 08/25/33 | 2,992 | |||||||||||||
| 3,530,000 | g,i | Federal Home Loan Structured Agency Credit Risk Debt Notes (STACR) | 3.700 | 11/25/41 | 3,020 | |||||||||||||
| 14,000,000 | g,i | Federal Home Loan Structured Agency Credit Risk Debt Notes (STACR) | 3.326 | 02/25/42 | 12,917 | |||||||||||||
| 14,900,000 | g,i | Federal Home Loan Structured Agency Credit Risk Debt Notes (STACR) | 5.279 | 06/25/42 | 14,975 | |||||||||||||
| 2,430,380 | Government National Mortgage Association (GNMA) | 2.580 | 08/15/25 | 2,419 | ||||||||||||||
| 8,544,582 | GNMA | 2.690 | 06/15/33 | 8,504 | ||||||||||||||
| 7,078,088 | GNMA | 3.700 | 10/15/33 | 7,046 | ||||||||||||||
| 60,304 | GNMA | 5.000 | 04/15/38 | 63 | ||||||||||||||
| 125,613 | GNMA | 6.500 | 11/20/38 | 138 | ||||||||||||||
| 7,242,074 | GNMA | 3.700 | 08/15/40 | 7,175 | ||||||||||||||
| 11,657,204 | GNMA | 2.750 | 01/15/45 | 11,300 | ||||||||||||||
| 1,769,153 | GNMA | 4.500 | 12/20/45 | 1,833 | ||||||||||||||
| 1,549,128 | GNMA | 4.000 | 06/20/46 | 210 | ||||||||||||||
| 4,889,402 | GNMA | 3.500 | 12/20/46 | 4,820 | ||||||||||||||
| 3,324,751 | GNMA | 3.500 | 01/20/47 | 3,281 | ||||||||||||||
| 16,802,000 | h | GNMA | 3.000 | 07/20/47 | 15,837 | |||||||||||||
| 1,854,559 | GNMA | 3.500 | 10/20/50 | 1,820 | ||||||||||||||
| 6,034,164 | GNMA | 3.000 | 07/20/51 | 5,673 | ||||||||||||||
| 37,412,921 | GNMA | 2.500 | 05/20/52 | 34,284 | ||||||||||||||
| 55,967,606 | GNMA | 3.000 | 05/20/52 | 52,831 | ||||||||||||||
| 10,170,000 | h | GNMA | 2.000 | 07/20/52 | 9,030 | |||||||||||||
| 14,510,000 | h | GNMA | 2.500 | 07/20/52 | 13,277 | |||||||||||||
| 1,000,000 | h | GNMA | 3.500 | 07/20/52 | 972 | |||||||||||||
| 4,882,442 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 03/25/52 | 4,076 | |||||||||||||
| 3,235,448 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 03/25/52 | 2,947 | |||||||||||||
| 3,096,165 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 05/01/52 | 2,793 | |||||||||||||
| 3,514,000 | †,g,i | J.P. Morgan Mortgage Trust | 3.000 | 12/25/52 | 3,032 | |||||||||||||
| 6,870,742 | g,i | JP Morgan Mortgage Trust | 2.500 | 07/25/52 | 5,802 | |||||||||||||
| 10,599,212 | g,i | JP Morgan Mortgage Trust | 3.250 | 07/25/52 | 9,330 | |||||||||||||
| 10,629,544 | g,i | JP Morgan Mortgage Trust | 3.000 | 08/25/52 | 9,361 | |||||||||||||
| 5,457,529 | g,i | JP Morgan Mortgage Trust | 3.000 | 10/25/52 | 4,766 | |||||||||||||
| 4,985,244 | g,i | JP Morgan Mortgage Trust | 3.000 | 11/25/52 | 4,323 | |||||||||||||
| TOTAL MORTGAGE BACKED | 1,187,280 | |||||||||||||||||
| MUNICIPAL BONDS - 3.1% | ||||||||||||||||||
| 4,500,000 | g | Basin Electric Power Coop | 6.127 | 06/01/41 | 4,986 | |||||||||||||
| 1,170,000 | Brunswick & Glynn County Development Authority | 3.060 | 04/01/25 | 1,157 | ||||||||||||||
| 385 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 3,000,000 | California Earthquake Authority | 1.477 | % | 07/01/23 | $ | 2,944 | |||||||||||
| 915,000 | California Health Facilities Financing Authority | 4.353 | 06/01/41 | 857 | ||||||||||||||
| 675,000 | g | California Municipal Finance Authority | 4.250 | 11/01/23 | 670 | |||||||||||||
| 455,000 | California Municipal Finance Authority | 2.138 | 08/15/27 | 410 | ||||||||||||||
| 350,000 | California Municipal Finance Authority | 2.288 | 08/15/28 | 310 | ||||||||||||||
| 500,000 | California Municipal Finance Authority | 3.694 | 08/15/56 | 376 | ||||||||||||||
| 16,250,000 | Chicago Housing Authority | 4.361 | 01/01/38 | 15,929 | ||||||||||||||
| 11,645,000 | Chicago Metropolitan Water Reclamation District-Greater Chicago | 5.720 | 12/01/38 | 13,495 | ||||||||||||||
| 3,035,000 | City & County of Honolulu HI | 2.668 | 10/01/27 | 2,878 | ||||||||||||||
| 5,645,000 | City & County of Honolulu HI | 3.974 | 09/01/35 | 5,436 | ||||||||||||||
| 1,615,000 | City & County of Honolulu HI | 4.004 | 09/01/36 | 1,545 | ||||||||||||||
| 7,085,000 | City & County of San Francisco CA | 4.000 | 04/01/47 | 6,431 | ||||||||||||||
| 5,500,000 | City & County of San Francisco CA Community Facilities District | 4.000 | 09/01/48 | 4,885 | ||||||||||||||
| 5,465,000 | City & County of San Francisco CA Community Facilities District | 3.482 | 09/01/50 | 4,448 | ||||||||||||||
| 350,000 | City & County of San Francisco CA Community Facilities District No 2014- | 3.091 | 09/01/36 | 300 | ||||||||||||||
| 5,395,000 | City of Chicago IL | 7.750 | 01/01/42 | 5,956 | ||||||||||||||
| 1,105,000 | City of Chicago IL | 7.750 | 01/01/42 | 1,184 | ||||||||||||||
| 1,250,000 | City of Florence SC | 4.250 | 12/01/34 | 1,238 | ||||||||||||||
| 1,000,000 | City of Houston TX Combined Utility System Revenue | 3.375 | 11/15/24 | 994 | ||||||||||||||
| 1,275,000 | City of Houston TX Combined Utility System Revenue | 4.172 | 11/15/38 | 1,206 | ||||||||||||||
| 7,500,000 | City of Los Angeles CA | 3.880 | 09/01/38 | 7,013 | ||||||||||||||
| 5,850,000 | City of Los Angeles Department of Airports Customer Facility Charge Revenue | 4.242 | 05/15/48 | 5,358 | ||||||||||||||
| 1,780,000 | g | City of Miami FL | 4.808 | 01/01/39 | 1,810 | |||||||||||||
| 3,665,000 | City of Norfolk VA | 3.050 | 10/01/36 | 3,152 | ||||||||||||||
| 4,835,000 | City of Oakland CA | 2.070 | 01/15/29 | 4,296 | ||||||||||||||
| 3,345,000 | City of San Francisco CA Public Utilities Commission Water Revenue | 3.000 | 11/01/26 | 3,265 | ||||||||||||||
| 3,725,000 | City of San Francisco CA Public Utilities Commission Water Revenue | 3.950 | 11/01/36 | 3,569 | ||||||||||||||
| 8,615,000 | City of San Francisco CA Public Utilities Commission Water Revenue | 3.303 | 11/01/39 | 7,611 | ||||||||||||||
| 23,050,000 | City of San Francisco CA Public Utilities Commission Water Revenue | 2.825 | 11/01/41 | 18,324 | ||||||||||||||
| 18,500,000 | City of San Francisco CA Public Utilities Commission Water Revenue | 4.185 | 11/01/46 | 17,130 | ||||||||||||||
| 1,000,000 | City of San Juan Capistrano CA | 3.700 | 08/01/31 | 988 | ||||||||||||||
| 5,255,000 | City of Seattle WA Local Improvement District No 6751 | 2.999 | 11/01/43 | 4,606 | ||||||||||||||
| 5,235,000 | City of Seattle WA Local Improvement District No 6751 | 3.079 | 11/01/43 | 4,552 | ||||||||||||||
| 2,730,000 | Commonwealth Financing Authority | 3.864 | 06/01/38 | 2,603 | ||||||||||||||
| 7,650,000 | County of Alameda CA | 3.820 | 08/01/38 | 7,235 | ||||||||||||||
| 1,500,000 | County of Miami-Dade FL Aviation Revenue | 2.218 | 10/01/22 | 1,499 | ||||||||||||||
| 12,015,000 | County of Miami-Dade FL Water & Sewer System Revenue | 3.490 | 10/01/42 | 10,141 | ||||||||||||||
| 15,000 | County of Saline AR | 3.550 | 06/01/42 | 14 | ||||||||||||||
| 3,500,000 | District of Columbia | 3.432 | 04/01/42 | 2,892 | ||||||||||||||
| 15,000,000 | District of Columbia Water & Sewer Authority | 4.814 | 10/01/14 | 15,053 | ||||||||||||||
| 1,075,000 | g | Florida Development Finance Corp | 6.750 | 12/01/56 | 1,063 | |||||||||||||
| 386 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 1,000,000 | Grant County Public Utility District No 2 | 5.470 | % | 01/01/34 | $ | 1,024 | |||||||||||
| 1,250,000 | Grant County Public Utility District No 2 | 4.164 | 01/01/35 | 1,217 | ||||||||||||||
| 22,445,000 | Grant County Public Utility District No 2 | 2.918 | 01/01/40 | 17,820 | ||||||||||||||
| 9,255,000 | Grant County Public Utility District No 2 | 3.210 | 01/01/40 | 7,600 | ||||||||||||||
| 3,230,000 | Great Lakes Water Authority Sewage Disposal System Revenue | 3.056 | 07/01/39 | 2,725 | ||||||||||||||
| 16,915,000 | Great Lakes Water Authority Water Supply System Revenue | 3.473 | 07/01/41 | 14,720 | ||||||||||||||
| 1,100,000 | Guadalupe Valley Electric Coop, Inc | 5.671 | 10/01/32 | 1,202 | ||||||||||||||
| 210,000 | Guadalupe-Blanco River Authority Industrial Development Corp | 3.287 | 04/15/23 | 211 | ||||||||||||||
| 640,000 | Henry County Water Authority | 3.000 | 01/01/43 | 500 | ||||||||||||||
| 850,000 | Henry County Water Authority | 3.200 | 01/01/49 | 649 | ||||||||||||||
| 1,000,000 | Honolulu City & County Board of Water Supply | 2.327 | 07/01/32 | 851 | ||||||||||||||
| 2,000,000 | Kern County Water Agency Improvement District No 4 | 4.276 | 05/01/36 | 1,978 | ||||||||||||||
| 6,430,000 | Lavaca-Navidad River Authority | 4.430 | 08/01/35 | 6,522 | ||||||||||||||
| 8,655,000 | Los Angeles Community College District | 2.106 | 08/01/32 | 7,345 | ||||||||||||||
| 1,025,000 | Maine State Housing Authority | 2.331 | 11/15/30 | 903 | ||||||||||||||
| 2,590,000 | Maryland Community Development Administration Housing Revenue | 3.797 | 03/01/39 | 2,545 | ||||||||||||||
| 3,000,000 | Massachusetts Clean Energy Cooperative Corp | 2.020 | 07/01/28 | 2,690 | ||||||||||||||
| 3,000,000 | Massachusetts Clean Energy Cooperative Corp | 2.485 | 07/01/32 | 2,569 | ||||||||||||||
| 4,595,000 | Massachusetts St. Water Pollution Abatement | 5.192 | 08/01/40 | 4,804 | ||||||||||||||
| 11,620,000 | Metropolitan Transportation Authority | 5.175 | 11/15/49 | 11,989 | ||||||||||||||
| 2,000,000 | Michigan Finance Authority | 5.000 | 07/01/31 | 2,070 | ||||||||||||||
| 7,400,000 | New Jersey Economic Development Authority | 5.706 | 06/15/30 | 7,884 | ||||||||||||||
| 3,000,000 | New Jersey Economic Development Authority | 5.756 | 06/15/31 | 3,222 | ||||||||||||||
| 3,375,000 | New Mexico Finance Authority | 4.090 | 06/15/38 | 3,382 | ||||||||||||||
| 4,065,000 | New York City Housing Development Corp | 3.119 | 08/01/38 | 3,284 | ||||||||||||||
| 2,500,000 | New York City Housing Development Corp | 3.720 | 11/01/39 | 2,154 | ||||||||||||||
| 1,225,000 | New York State Environmental Facilities Corp | 3.195 | 06/15/25 | 1,213 | ||||||||||||||
| 2,120,000 | New York State Environmental Facilities Corp | 3.520 | 07/15/27 | 2,105 | ||||||||||||||
| 17,500,000 | New York Transportation Development Corp | 5.000 | 01/01/26 | 17,971 | ||||||||||||||
| 11,245,000 | Ohio State Water Development Authority | 4.879 | 12/01/34 | 11,849 | ||||||||||||||
| 13,250,000 | †,g,q | Oregon State Business Development Commission | 6.500 | 04/01/31 | 967 | |||||||||||||
| 3,470,000 | †,g | Oregon State Business Development Commission | 9.000 | 04/01/37 | 253 | |||||||||||||
| 2,500,000 | Palm Beach County Solid Waste Authority | 2.636 | 10/01/24 | 2,463 | ||||||||||||||
| 4,615,000 | Papio-Missouri River Natural Resource District | 2.088 | 12/15/24 | 4,534 | ||||||||||||||
| 4,500,000 | Pend Oreille County Public Utility District No Box Canyon | 5.000 | 01/01/30 | 4,510 | ||||||||||||||
| 7,250,000 | g | Pennsylvania Economic Development Financing Authority | 10.000 | 12/01/29 | 6,904 | |||||||||||||
| 1,170,000 | Pharr Economic Development Corp | 3.513 | 08/15/30 | 1,117 | ||||||||||||||
| 1,140,000 | Pharr Economic Development Corp | 3.893 | 08/15/33 | 1,102 | ||||||||||||||
| 1,735,000 | g | Public Finance Authority | 7.500 | 06/01/29 | 1,761 | |||||||||||||
| 1,250,000 | Redevelopment Authority of the City of Philadelphia | 1.927 | 09/01/27 | 1,126 | ||||||||||||||
| 1,710,000 | Redevelopment Authority of the City of Philadelphia | 3.172 | 09/01/41 | 1,419 | ||||||||||||||
| 387 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 2,000,000 | San Francisco City & County Redevelopment Agency | 4.375 | % | 08/01/44 | $ | 1,911 | |||||||||||
| 3,870,000 | Semitropic Improvement District of the Semitropic Water Storage District | 3.293 | 12/01/35 | 3,437 | ||||||||||||||
| 36,330,000 | State of California | 3.750 | 10/01/37 | 36,270 | ||||||||||||||
| 11,565,000 | State of California | 4.600 | 04/01/38 | 11,694 | ||||||||||||||
| 10,050,000 | State of California | 4.988 | 04/01/39 | 10,121 | ||||||||||||||
| 9,000,000 | State of Illinois | 5.520 | 04/01/38 | 8,759 | ||||||||||||||
| 4,405,000 | State of Michigan | 3.590 | 12/01/26 | 4,409 | ||||||||||||||
| 2,500,000 | State of Ohio | 5.412 | 09/01/28 | 2,728 | ||||||||||||||
| 3,370,000 | State of Texas | 3.726 | 08/01/43 | 3,393 | ||||||||||||||
| 3,000 | State of Wisconsin | 5.700 | 05/01/26 | 3 | ||||||||||||||
| 1,650,000 | g | Syracuse Industrial Development Agency | 5.000 | 01/01/36 | 1,158 | |||||||||||||
| 2,280,000 | Tampa Bay Water | 2.612 | 10/01/25 | 2,238 | ||||||||||||||
| 3,225,000 | Tampa Bay Water | 2.782 | 10/01/26 | 3,164 | ||||||||||||||
| 3,000,000 | Tampa Bay Water | 2.952 | 10/01/27 | 2,964 | ||||||||||||||
| 1,255,000 | Texas Water Development Board | 4.248 | 10/15/35 | 1,260 | ||||||||||||||
| 5,880,000 | Texas Water Development Board | 4.340 | 10/15/48 | 5,744 | ||||||||||||||
| 4,170,000 | Texas Water Development Board | 4.648 | 04/15/50 | 4,200 | ||||||||||||||
| 5,000,000 | Tuolumne Wind Project Authority | 6.918 | 01/01/34 | 5,965 | ||||||||||||||
| 3,035,000 | University of California | 3.809 | 05/15/28 | 3,010 | ||||||||||||||
| 11,400,000 | University of California | 4.009 | 05/15/30 | 11,262 | ||||||||||||||
| 1,000,000 | University of Cincinnati | 3.250 | 06/01/29 | 998 | ||||||||||||||
| 1,560,000 | University of Cincinnati | 3.650 | 06/01/34 | 1,516 | ||||||||||||||
| 1,615,000 | University of Cincinnati | 3.700 | 06/01/35 | 1,543 | ||||||||||||||
| 18,000,000 | University of New Mexico | 3.532 | 06/20/32 | 17,620 | ||||||||||||||
| 500,000 | Upper Allegheny Joint Sanitary Authority | 3.550 | 09/01/39 | 436 | ||||||||||||||
| 1,500,000 | Upper Allegheny Joint Sanitary Authority | 3.800 | 09/01/49 | 1,267 | ||||||||||||||
| 5,000,000 | Vermont Educational & Health Buildings Financing Agency | 4.000 | 12/01/42 | 4,852 | ||||||||||||||
| 3,000,000 | Vermont Educational & Health Buildings Financing Agency | 4.000 | 12/01/46 | 2,748 | ||||||||||||||
| 750,000 | Village of Bellwood IL | 5.375 | 12/01/32 | 730 | ||||||||||||||
| 4,500,000 | Village of Bellwood IL | 6.000 | 12/01/50 | 4,287 | ||||||||||||||
| 1,000,000 | Washington County Clean Water Services | 5.078 | 10/01/24 | 1,041 | ||||||||||||||
| TOTAL MUNICIPAL BONDS | 531,691 | |||||||||||||||||
| U.S. TREASURY SECURITIES - 5.9% | ||||||||||||||||||
| 35,830,000 | United States Treasury Bond | 2.875 | 11/15/46 | 32,667 | ||||||||||||||
| 2,500,000 | United States Treasury Bond | 3.000 | 02/15/49 | 2,382 | ||||||||||||||
| 4,500,000 | United States Treasury Note | 1.750 | 09/30/22 | 4,499 | ||||||||||||||
| 21,821,000 | United States Treasury Note | 0.125 | 10/31/22 | 21,677 | ||||||||||||||
| 10,350,000 | United States Treasury Note | 0.125 | 12/31/22 | 10,226 | ||||||||||||||
| 19,250,000 | United States Treasury Note | 0.125 | 03/31/23 | 18,876 | ||||||||||||||
| 3,780,000 | United States Treasury Note | 0.250 | 09/30/23 | 3,655 | ||||||||||||||
| 31,765,000 | United States Treasury Note | 2.875 | 09/30/23 | 31,734 | ||||||||||||||
| 6,100,000 | United States Treasury Note | 2.625 | 12/31/23 | 6,070 | ||||||||||||||
| 38,095,000 | United States Treasury Note | 2.500 | 05/31/24 | 37,751 | ||||||||||||||
| 1,525,000 | United States Treasury Note | 2.250 | 10/31/24 | 1,499 | ||||||||||||||
| 7,085,000 | United States Treasury Note | 2.875 | 06/15/25 | 7,057 | ||||||||||||||
| 18,842,000 | United States Treasury Note | 2.500 | 02/28/26 | 18,480 | ||||||||||||||
| 162,557,000 | United States Treasury Note | 2.625 | 05/31/27 | 159,484 | ||||||||||||||
| 15,031,000 | United States Treasury Note | 0.500 | 10/31/27 | 13,132 | ||||||||||||||
| 35,275,000 | United States Treasury Note | 0.625 | 11/30/27 | 30,976 | ||||||||||||||
| 388 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 28,250,000 | United States Treasury Note | 1.125 | % | 08/31/28 | $ | 25,142 | |||||||||||
| 23,690,000 | United States Treasury Note | 2.375 | 03/31/29 | 22,677 | ||||||||||||||
| 10,000,000 | United States Treasury Note | 2.875 | 04/30/29 | 9,883 | ||||||||||||||
| 238,417,000 | United States Treasury Note | 2.875 | 05/15/32 | 235,735 | ||||||||||||||
| 14,508,000 | United States Treasury Note | 1.875 | 02/15/41 | 11,378 | ||||||||||||||
| 4,700,000 | United States Treasury Note | 2.250 | 05/15/41 | 3,922 | ||||||||||||||
| 232,705,800 | United States Treasury Note | 2.250 | 02/15/42 | 197,327 | ||||||||||||||
| 27,300,000 | United States Treasury Note | 3.250 | 05/15/42 | 26,644 | ||||||||||||||
| 75,298,000 | United States Treasury Note | 2.250 | 02/15/52 | 61,968 | ||||||||||||||
| TOTAL U.S. TREASURY SECURITIES | 994,841 | |||||||||||||||||
| TOTAL GOVERNMENT BONDS | 3,594,462 | |||||||||||||||||
| (Cost $3,787,397) | ||||||||||||||||||
| STRUCTURED ASSETS - 4.8% | ||||||||||||||||||
| ASSET BACKED - 1.5% | ||||||||||||||||||
| 99,904 | g | AMSR Trust | 1.819 | 04/17/37 | 95 | |||||||||||||
| Series - 2020 SFR1 (Class A) | ||||||||||||||||||
| 900,000 | g | AMSR Trust | 3.148 | 01/19/39 | 844 | |||||||||||||
| Series - 2019 SFR1 (Class C) | ||||||||||||||||||
| 800,000 | g | AMSR Trust | 3.247 | 01/19/39 | 743 | |||||||||||||
| Series - 2019 SFR1 (Class D) | ||||||||||||||||||
| 1,059,356 | g,i | AREIT Trust | LIBOR 1 M + 1.384% | 2.718 | 09/14/36 | 1,035 | ||||||||||||
| Series - 2019 CRE3 (Class A) | ||||||||||||||||||
| 4,500,000 | g,i | BFLD Trust | LIBOR 1 M + 2.100% | 3.424 | 10/15/35 | 4,318 | ||||||||||||
| Series - 2020 EYP (Class C) | ||||||||||||||||||
| 286,154 | i | C-BASS Trust | LIBOR 1 M + 0.160% | 1.784 | 07/25/36 | 273 | ||||||||||||
| Series - 2006 CB6 (Class A1) | ||||||||||||||||||
| 3,024,896 | i | Chase Funding Loan Acquisition Trust | LIBOR 1 M + 0.855% | 2.479 | 06/25/34 | 2,827 | ||||||||||||
| Series - 2004 OPT1 (Class M1) | ||||||||||||||||||
| 111,633 | g | Corevest American Finance Trust | 1.832 | 03/15/50 | 106 | |||||||||||||
| Series - 2020 1 (Class A1) | ||||||||||||||||||
| 1,413,396 | Delta Air Lines Pass Through Trust | 4.250 | 07/30/23 | 1,381 | ||||||||||||||
| Series - 2015 1 (Class B) | ||||||||||||||||||
| 7,150,000 | Delta Air Lines Pass Through Trust | 3.204 | 04/25/24 | 6,911 | ||||||||||||||
| Series - 2019 1 (Class AA) | ||||||||||||||||||
| 4,402,061 | Delta Air Lines Pass Through Trust | 2.000 | 06/10/28 | 3,840 | ||||||||||||||
| Series - 2020 1 (Class AA) | ||||||||||||||||||
| 18,677,176 | Delta Air Lines Pass Through Trust | 2.500 | 06/10/28 | 16,354 | ||||||||||||||
| Series - 2020 1 (Class A) | ||||||||||||||||||
| 128,873 | g,i | Ellington Loan Acquisition Trust | LIBOR 1 M + 1.100% | 2.724 | 05/25/37 | 128 | ||||||||||||
| Series - 2007 2 (Class A2C) | ||||||||||||||||||
| 3,660,693 | g | GoodLeap Sustainable Home Solutions Trust | 2.100 | 05/20/48 | 3,154 | |||||||||||||
| Series - 2021 3CS (Class A) | ||||||||||||||||||
| 3,928,866 | g | GoodLeap Sustainable Home Solutions Trust | 1.930 | 07/20/48 | 3,346 | |||||||||||||
| Series - 2021 4GS (Class A) | ||||||||||||||||||
| 14,216,383 | g | GoodLeap Sustainable Home Solutions Trust | 2.310 | 10/20/48 | 12,342 | |||||||||||||
| Series - 2021 5CS (Class A) | ||||||||||||||||||
| 5,008,853 | g | GoodLeap Sustainable Home Solutions Trust | 2.700 | 01/20/49 | 4,482 | |||||||||||||
| Series - 2022 1GS (Class A) | ||||||||||||||||||
| 3,298,787 | g | GoodLeap Sustainable Home Solutions Trust | 2.940 | 01/20/49 | 2,939 | |||||||||||||
| Series - 2022 1GS (Class B) | ||||||||||||||||||
| 389 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 8,297,000 | g | Grace Trust | 2.347 | % | 12/10/40 | $ | 6,858 | ||||||||||
| Series - 2020 GRCE (Class A) | ||||||||||||||||||
| 2,892,549 | g | HERO Funding Trust | 3.840 | 09/21/40 | 2,892 | |||||||||||||
| Series - 2015 1A (Class A) | ||||||||||||||||||
| 816,927 | g | HERO Funding Trust | 3.990 | 09/21/40 | 790 | |||||||||||||
| Series - 2014 2A (Class A) | ||||||||||||||||||
| 1,424,731 | g | HERO Funding Trust | 3.750 | 09/20/41 | 1,407 | |||||||||||||
| Series - 2016 2A (Class A) | ||||||||||||||||||
| 1,343,914 | g | HERO Funding Trust | 4.050 | 09/20/41 | 1,338 | |||||||||||||
| Series - 2016 1A (Class A) | ||||||||||||||||||
| 505,610 | g | HERO Funding Trust | 3.080 | 09/20/42 | 492 | |||||||||||||
| Series - 2016 3A (Class A1) | ||||||||||||||||||
| 3,733,103 | g | HERO Funding Trust | 3.710 | 09/20/47 | 3,643 | |||||||||||||
| Series - 2017 1A (Class A1) | ||||||||||||||||||
| 3,731,333 | g | HERO Funding Trust | 3.190 | 09/20/48 | 3,564 | |||||||||||||
| Series - 2017 3A (Class A1) | ||||||||||||||||||
| 876,735 | g | HERO Funding Trust | 3.280 | 09/20/48 | 849 | |||||||||||||
| Series - 2017 2A (Class A1) | ||||||||||||||||||
| 4,036,442 | g | HERO Funding Trust | 4.670 | 09/20/48 | 3,970 | |||||||||||||
| Series - 2018 1A (Class A2) | ||||||||||||||||||
| 2,994,097 | g | HERO Funding Trust | 2.240 | 09/20/51 | 2,684 | |||||||||||||
| Series - 2021 1A (Class A) | ||||||||||||||||||
| 16,241 | i | Home Equity Asset Trust | LIBOR 1 M + 1.500% | 3.986 | 06/25/33 | 16 | ||||||||||||
| Series - 2003 1 (Class M1) | ||||||||||||||||||
| 599,972 | g,i | Invitation Homes Trust | LIBOR 1 M + 1.250% | 2.773 | 01/17/38 | 594 | ||||||||||||
| Series - 2018 SFR4 (Class B) | ||||||||||||||||||
| 3,642,750 | g | Loanpal Solar Loan Ltd | 2.290 | 01/20/48 | 3,151 | |||||||||||||
| Series - 2021 1GS (Class A) | ||||||||||||||||||
| 6,157,856 | g | Loanpal Solar Loan Ltd | 2.220 | 03/20/48 | 5,259 | |||||||||||||
| Series - 2021 2GS (Class A) | ||||||||||||||||||
| 2,371,572 | †,g | Mosaic Solar Loan Trust | 0.000 | 04/20/46 | 2,253 | |||||||||||||
| Series - 2020 1A (Class R) | ||||||||||||||||||
| 1,574,138 | g | Mosaic Solar Loan Trust | 2.100 | 04/20/46 | 1,427 | |||||||||||||
| Series - 2020 1A (Class A) | ||||||||||||||||||
| 2,178,494 | g | Mosaic Solar Loan Trust | 3.100 | 04/20/46 | 2,004 | |||||||||||||
| Series - 2020 1A (Class B) | ||||||||||||||||||
| 2,479,953 | g | Mosaic Solar Loan Trust | 2.050 | 12/20/46 | 2,139 | |||||||||||||
| Series - 2021 1A (Class B) | ||||||||||||||||||
| 3,720,278 | g | Mosaic Solar Loan Trust | 1.440 | 06/20/52 | 3,193 | |||||||||||||
| Series - 2021 3A (Class A) | ||||||||||||||||||
| 3,457,428 | g | Mosaic Solar Loans LLC | 3.820 | 06/22/43 | 3,279 | |||||||||||||
| Series - 2017 2A (Class A) | ||||||||||||||||||
| 3,939,903 | g | Mosaic Solar Loans LLC | 1.640 | 04/22/47 | 3,450 | |||||||||||||
| Series - 2021 2A (Class A) | ||||||||||||||||||
| 2,500,000 | g | Progress Residential Trust | 2.082 | 10/17/38 | 2,153 | |||||||||||||
| Series - 2021 SFR8 (Class D) | ||||||||||||||||||
| 750,000 | g | Progress Residential Trust | 2.711 | 11/17/40 | 621 | |||||||||||||
| Series - 2021 SFR9 (Class D) | ||||||||||||||||||
| 2,331,704 | g | Renew | 3.670 | 09/20/52 | 2,176 | |||||||||||||
| Series - 2017 1A (Class A) | ||||||||||||||||||
| 4,971,711 | g | Renew | 3.950 | 09/20/53 | 4,731 | |||||||||||||
| Series - 2018 1 (Class A) | ||||||||||||||||||
| 390 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 4,453,350 | g | Renew | 2.060 | % | 11/20/56 | $ | 3,944 | ||||||||||
| Series - 2021 1 (Class A) | ||||||||||||||||||
| 5,885,746 | SCE Recovery Funding LLC | 0.861 | 11/15/31 | 5,160 | ||||||||||||||
| 10,739 | i | Structured Asset Investment Loan Trust | LIBOR 1 M + 0.900% | 2.524 | 09/25/34 | 10 | ||||||||||||
| Series - 2004 8 (Class M1) | ||||||||||||||||||
| 37,523 | i | Structured Asset Investment Loan Trust | LIBOR 1 M + 1.000% | 2.624 | 09/25/34 | 37 | ||||||||||||
| Series - 2004 8 (Class A9) | ||||||||||||||||||
| 7,042,513 | g | Sunnova Helios VII Issuer LLC | 2.030 | 10/20/48 | 6,230 | |||||||||||||
| Series - 2021 C (Class A) | ||||||||||||||||||
| 3,932,901 | g | Sunnova Helios VIII Issuer LLC | 2.790 | 02/22/49 | 3,562 | |||||||||||||
| Series - 2022 A (Class A) | ||||||||||||||||||
| 2,760,464 | g | Sunrun Athena Issuer LLC | 5.310 | 04/30/49 | 2,695 | |||||||||||||
| Series - 2018 1 (Class A) | ||||||||||||||||||
| 9,076,604 | g | Sunrun Atlas Issuer LLC | 3.610 | 02/01/55 | 8,226 | |||||||||||||
| Series - 2019 2 (Class A) | ||||||||||||||||||
| 5,960,716 | g | Sunrun Callisto Issuer LLC | 2.270 | 01/30/57 | 4,997 | |||||||||||||
| Series - 2021 2A (Class A) | ||||||||||||||||||
| 7,240,000 | g | Sunrun Jupiter Issuer LLC | 4.750 | 07/30/57 | 6,883 | |||||||||||||
| Series - 2022 1A (Class A) | ||||||||||||||||||
| 11,262,866 | g | TES LLC | 4.330 | 10/20/47 | 10,550 | |||||||||||||
| Series - 2017 1A (Class A) | ||||||||||||||||||
| 2,500,000 | g | TES LLC | 7.740 | 10/20/47 | 2,416 | |||||||||||||
| Series - 2017 1A (Class B) | ||||||||||||||||||
| 6,798,031 | g | TES LLC | 4.120 | 02/20/48 | 6,613 | |||||||||||||
| Series - 2017 2A (Class A) | ||||||||||||||||||
| 4,125,000 | g | Tesla Auto Lease Trust | 2.200 | 11/21/22 | 4,120 | |||||||||||||
| Series - 2019 A (Class A4) | ||||||||||||||||||
| 5,400,000 | g | Tesla Auto Lease Trust | 0.560 | 03/20/25 | 5,210 | |||||||||||||
| Series - 2021 A (Class A3) | ||||||||||||||||||
| 6,650,000 | g | Tesla Auto Lease Trust | 0.660 | 03/20/25 | 6,354 | |||||||||||||
| Series - 2021 A (Class A4) | ||||||||||||||||||
| 6,250,000 | g | Tesla Auto Lease Trust | 1.180 | 03/20/25 | 5,898 | |||||||||||||
| Series - 2021 A (Class C) | ||||||||||||||||||
| 4,500,000 | g | Tesla Auto Lease Trust | 0.600 | 09/22/25 | 4,264 | |||||||||||||
| Series - 2021 B (Class A3) | ||||||||||||||||||
| 5,000,000 | g | Tesla Auto Lease Trust | 0.630 | 09/22/25 | 4,704 | |||||||||||||
| Series - 2021 B (Class A4) | ||||||||||||||||||
| 9,500,000 | Toyota Auto Receivables Owner Trust | 0.260 | 11/17/25 | 9,144 | ||||||||||||||
| Series - 2021 B (Class A3) | ||||||||||||||||||
| 9,900,000 | Toyota Auto Receivables Owner Trust | 0.530 | 10/15/26 | 9,165 | ||||||||||||||
| Series - 2021 B (Class A4) | ||||||||||||||||||
| 1,037,802 | g | Tricon American Homes Trust | 2.928 | 01/17/36 | 1,025 | |||||||||||||
| Series - 2017 SFR2 (Class A) | ||||||||||||||||||
| 475,000 | g | Tricon American Homes Trust | 2.049 | 07/17/38 | 436 | |||||||||||||
| Series - 2020 SFR1 (Class B) | ||||||||||||||||||
| 13,952,092 | g | Vivint Colar Financing V LLC | 4.730 | 04/30/48 | 13,284 | |||||||||||||
| Series - 2018 1A (Class A) | ||||||||||||||||||
| 4,918,282 | g | Vivint Solar Financing VII LLC | 2.210 | 07/31/51 | 4,145 | |||||||||||||
| Series - 2020 1A (Class A) | ||||||||||||||||||
| TOTAL ASSET BACKED | 259,123 | |||||||||||||||||
| OTHER MORTGAGE BACKED - 3.3% | ||||||||||||||||||
| 86,561 | g,i | Agate Bay Mortgage Trust | 3.500 | 09/25/45 | 82 | |||||||||||||
| Series - 2015 6 (Class A9) | ||||||||||||||||||
| 391 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 4,075,000 | g,i | Alen Mortgage Trust | LIBOR 1 M + 2.250% | 3.574 | % | 04/15/34 | $ | 3,885 | |||||||||
| Series - 2021 ACEN (Class C) | ||||||||||||||||||
| 2,115,000 | g,i | Angel Oak Mortgage Trust | 2.837 | 11/25/66 | 1,677 | |||||||||||||
| Series - 2021 8 (Class A3) | ||||||||||||||||||
| 5,000,000 | g | BANK | 2.500 | 10/17/52 | 3,550 | |||||||||||||
| Series - 2019 BN21 (Class D) | ||||||||||||||||||
| 6,500,000 | i | BANK | 3.517 | 10/17/52 | 5,523 | |||||||||||||
| Series - 2019 BN21 (Class C) | ||||||||||||||||||
| 8,000,000 | i | BANK | 3.576 | 11/15/62 | 6,844 | |||||||||||||
| Series - 2019 BN22 (Class C) | ||||||||||||||||||
| 4,940,000 | g,i | BBCMS Mortgage Trust | 4.409 | 08/05/38 | 3,713 | |||||||||||||
| Series - 2018 CHRS (Class E) | ||||||||||||||||||
| 12,500,000 | g | BBCMS Trust | 3.593 | 09/15/32 | 12,462 | |||||||||||||
| Series - 2015 MSQ (Class A) | ||||||||||||||||||
| 3,600,000 | g | BBCMS Trust | 3.894 | 09/15/32 | 3,589 | |||||||||||||
| Series - 2015 MSQ (Class B) | ||||||||||||||||||
| 2,750,000 | g | BBCMS Trust | 4.798 | 08/10/35 | 2,549 | |||||||||||||
| Series - 2015 SRCH (Class C) | ||||||||||||||||||
| 3,000,000 | g,i | BBCMS Trust | 3.811 | 02/15/53 | 2,615 | |||||||||||||
| Series - 2020 C6 (Class F5TA) | ||||||||||||||||||
| 1,000,000 | Benchmark Mortgage Trust | 3.419 | 08/15/52 | 916 | ||||||||||||||
| Series - 2019 B12 (Class AS) | ||||||||||||||||||
| 8,870,000 | g,i | Benchmark Mortgage Trust | 4.029 | 03/15/62 | 7,347 | |||||||||||||
| Series - 2019 B10 (Class 3CCA) | ||||||||||||||||||
| 5,200,000 | g | BMO 360A | 3.776 | 02/15/42 | 4,717 | |||||||||||||
| Series - 2022 C1 (Class 360A) | ||||||||||||||||||
| 10,478,112 | g,i | BX Commercial Mortgage Trust | LIBOR 1 M + 1.197% | 2.521 | 10/15/38 | 9,873 | ||||||||||||
| Series - 2021 XL2 (Class C) | ||||||||||||||||||
| 12,000,000 | g,i | BX Commercial Mortgage Trust | 3.119 | 01/17/39 | 11,550 | |||||||||||||
| Series - 2022 AHP (Class B) | ||||||||||||||||||
| 5,000,000 | g,i | BX TRUST | 2.769 | 01/17/39 | 4,842 | |||||||||||||
| Series - 2022 AHP (Class AS) | ||||||||||||||||||
| 2,901,500 | g,i | CCRC Affordable Multifamily Housing Mortgage Trust | 5.703 | 06/25/34 | 2,831 | |||||||||||||
| Series - 2017 Q005 (Class B) | ||||||||||||||||||
| 2,000,000 | i | CD Mortgage Trust | 3.879 | 11/10/49 | 1,862 | |||||||||||||
| Series - 2016 CD2 (Class B) | ||||||||||||||||||
| 2,000,000 | i | Citigroup Commercial Mortgage Trust | 4.279 | 04/10/48 | 1,890 | |||||||||||||
| Series - 2015 GC29 (Class C) | ||||||||||||||||||
| 4,000,000 | Citigroup Commercial Mortgage Trust | 3.300 | 11/10/52 | 3,627 | ||||||||||||||
| Series - 2019 GC43 (Class AS) | ||||||||||||||||||
| 3,115,000 | Citigroup Commercial Mortgage Trust | 3.018 | 08/10/56 | 2,786 | ||||||||||||||
| Series - 2019 GC41 (Class AS) | ||||||||||||||||||
| 86,313 | i | Citigroup Mortgage Loan Trust | LIBOR 1 M + 0.750% | 2.374 | 01/25/36 | 86 | ||||||||||||
| Series - 2006 WFH1 (Class M4) | ||||||||||||||||||
| 3,000,000 | g,i | Cityline Commercial Mortgage Trust | 2.871 | 11/10/31 | 2,924 | |||||||||||||
| Series - 2016 CLNE (Class A) | ||||||||||||||||||
| 3,740,000 | g,i | COMM Mortgage Trust | 3.527 | 10/10/29 | 3,570 | |||||||||||||
| Series - 2017 PANW (Class B) | ||||||||||||||||||
| 3,000,000 | g,i | COMM Mortgage Trust | 3.712 | 10/10/29 | 2,844 | |||||||||||||
| Series - 2017 PANW (Class C) | ||||||||||||||||||
| 5,120,000 | g | COMM Mortgage Trust | 4.353 | 08/10/30 | 5,082 | |||||||||||||
| Series - 2013 300P (Class A1) | ||||||||||||||||||
| 392 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 4,125,000 | g | COMM Mortgage Trust | 3.376 | % | 01/10/39 | $ | 3,742 | ||||||||||
| Series - 2022 HC (Class C) | ||||||||||||||||||
| 3,500,000 | g,i | COMM Mortgage Trust | 4.207 | 03/10/48 | 3,162 | |||||||||||||
| Series - 2015 CR22 (Class D) | ||||||||||||||||||
| 1,100,000 | i | COMM Mortgage Trust | 4.428 | 05/10/48 | 1,040 | |||||||||||||
| Series - 2015 CR23 (Class C) | ||||||||||||||||||
| 1,000,000 | i | COMM Mortgage Trust | 4.428 | 05/10/48 | 884 | |||||||||||||
| Series - 2015 CR23 (Class D) | ||||||||||||||||||
| 2,500,000 | i | COMM Mortgage Trust | 3.463 | 08/10/48 | 2,159 | |||||||||||||
| Series - 2015 CR24 (Class D) | ||||||||||||||||||
| 1,000,000 | COMM Mortgage Trust | 3.263 | 08/15/57 | 897 | ||||||||||||||
| Series - 2019 GC44 (Class AM) | ||||||||||||||||||
| 6,000,000 | g,i | Commercial Mortgage Pass Through Certificates | 3.896 | 01/10/39 | 5,432 | |||||||||||||
| Series - 2022 HC (Class D) | ||||||||||||||||||
| 1,273,220 | i | Connecticut Avenue Securities | LIBOR 1 M + 2.600% | 4.224 | 05/25/24 | 1,268 | ||||||||||||
| Series - 2014 C02 (Class 1M2) | ||||||||||||||||||
| 2,888,909 | i | Connecticut Avenue Securities | LIBOR 1 M + 3.000% | 4.624 | 07/25/24 | 2,878 | ||||||||||||
| Series - 2014 C03 (Class 1M2) | ||||||||||||||||||
| 1,155,000 | g,i | Connecticut Avenue Securities Trust | 2.476 | 10/25/41 | 1,071 | |||||||||||||
| Series - 2021 R01 (Class 1M2) | ||||||||||||||||||
| 2,800,000 | g,i | Connecticut Avenue Securities Trust | 4.226 | 11/25/41 | 2,395 | |||||||||||||
| Series - 2021 R02 (Class 2B1) | ||||||||||||||||||
| 1,965,000 | g,i | Connecticut Avenue Securities Trust | 2.576 | 12/25/41 | 1,750 | |||||||||||||
| Series - 2021 R03 (Class 1M2) | ||||||||||||||||||
| 1,685,000 | g,i | Connecticut Avenue Securities Trust | 3.676 | 12/25/41 | 1,414 | |||||||||||||
| Series - 2021 R03 (Class 1B1) | ||||||||||||||||||
| 6,620,000 | g,i | Connecticut Avenue Securities Trust | 4.426 | 03/25/42 | 6,298 | |||||||||||||
| Series - 2022 R03 (Class 1M2) | ||||||||||||||||||
| 2,830,000 | g,i | Connecticut Avenue Securities Trust | 3.926 | 04/25/42 | 2,690 | |||||||||||||
| Series - 2022 R05 (Class 2M2) | ||||||||||||||||||
| 15,000,000 | g | CPT Mortgage Trust | 2.865 | 11/13/39 | 13,098 | |||||||||||||
| Series - 2019 CPT (Class A) | ||||||||||||||||||
| 2,000,000 | g,i | CPT Mortgage Trust | 3.097 | 11/13/39 | 1,572 | |||||||||||||
| Series - 2019 CPT (Class E) | ||||||||||||||||||
| 5,000,000 | g,i | Credit Suisse Commercial Mortgage Trust | 3.854 | 11/10/32 | 4,791 | |||||||||||||
| Series - 2017 CALI (Class B) | ||||||||||||||||||
| 3,501,785 | g,i | Credit Suisse Mortgage Capital Certificates | 2.405 | 10/25/66 | 3,102 | |||||||||||||
| Series - 2021 NQM8 (Class A3) | ||||||||||||||||||
| 6,650,000 | g,i | CSAIL Commercial Mortgage Trust | 3.800 | 06/15/37 | 6,007 | |||||||||||||
| Series - 2017 C8 (Class 85BA) | ||||||||||||||||||
| 6,100,000 | g,i | CSAIL Commercial Mortgage Trust | 3.800 | 06/15/37 | 5,239 | |||||||||||||
| Series - 2017 C8 (Class 85BB) | ||||||||||||||||||
| 2,000,000 | g,i | CSMC Series | 3.388 | 10/25/59 | 1,825 | |||||||||||||
| Series - 2019 NQM1 (Class M1) | ||||||||||||||||||
| 102,725,000 | g,i | DOLP Trust | 0.665 | 05/10/41 | 4,474 | |||||||||||||
| Series - 2021 NYC (Class X) | ||||||||||||||||||
| 12,500,000 | g,i | ELP Commercial Mortgage Trust | LIBOR 1 M + 1.320% | 2.645 | 11/15/38 | 11,919 | ||||||||||||
| Series - 2021 ELP (Class C) | ||||||||||||||||||
| 7,500,000 | g,i | ELP Commercial Mortgage Trust | LIBOR 1 M + 2.118% | 3.443 | 11/15/38 | 7,088 | ||||||||||||
| Series - 2021 ELP (Class E) | ||||||||||||||||||
| 538,527 | g,i | Flagstar Mortgage Trust | 4.049 | 10/25/47 | 517 | |||||||||||||
| Series - 2017 2 (Class B3) | ||||||||||||||||||
| 393 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 60,430 | g,i | Flagstar Mortgage Trust | 4.000 | % | 09/25/48 | $ | 60 | ||||||||||
| Series - 2018 5 (Class A11) | ||||||||||||||||||
| 1,484,865 | g,i | Flagstar Mortgage Trust | 2.500 | 04/25/51 | 1,241 | |||||||||||||
| Series - 2021 2 (Class A4) | ||||||||||||||||||
| 4,586,311 | g,i | Flagstar Mortgage Trust | 2.500 | 06/01/51 | 3,830 | |||||||||||||
| Series - 2021 4 (Class A21) | ||||||||||||||||||
| 12,501,506 | g,i | Flagstar Mortgage Trust | 3.000 | 10/25/51 | 11,105 | |||||||||||||
| Series - 2021 10IN (Class A1) | ||||||||||||||||||
| 10,260,000 | Freddie Mac Multiclass Certificates Series | 1.878 | 01/25/31 | 9,140 | ||||||||||||||
| Series - 2021 P009 (Class A2) | ||||||||||||||||||
| 7,324,000 | i | Freddie Mac Multiclass Certificates Series | 2.852 | 02/25/32 | 6,830 | |||||||||||||
| Series - 2022 P013 (Class A2) | ||||||||||||||||||
| 6,756,378 | Freddie Mac Multifamily ML Certificates | 1.877 | 07/25/37 | 5,563 | ||||||||||||||
| Series - 2021 ML08 (Class ) | ||||||||||||||||||
| 40,038,380 | i | Freddie Mac Multifamily ML Certificates | 1.779 | 11/25/37 | 5,669 | |||||||||||||
| Series - 2021 ML08 (Class XCA) | ||||||||||||||||||
| 3,196,873 | Freddie Mac Multifamily ML Certificates | 1.896 | 11/25/37 | 2,636 | ||||||||||||||
| Series - 2021 ML08 (Class ) | ||||||||||||||||||
| 16,667,783 | Freddie Mac Multifamily ML Certificates | 2.340 | 07/25/41 | 14,152 | ||||||||||||||
| Series - 2021 ML12 (Class AUS) | ||||||||||||||||||
| 1,024,998 | Freddie Mac Multifamily Structured Pass Through Certificates | 1.518 | 09/25/35 | 820 | ||||||||||||||
| Series - 2020 Q012 (Class A3) | ||||||||||||||||||
| 4,748,154 | Freddie Mac Multifamily Structured Pass Through Certificates | 1.555 | 01/25/36 | 4,073 | ||||||||||||||
| Series - 2020 Q014 (Class A1) | ||||||||||||||||||
| 16,694,823 | Freddie Mac Multifamily Variable Rate Certificate | 3.150 | 10/15/36 | 15,675 | ||||||||||||||
| Series - 2022 M068 (Class A) | ||||||||||||||||||
| 6,115,000 | Freddie Mac Multifamily Variable Rate Certificate | 1.761 | 09/15/38 | 5,209 | ||||||||||||||
| Series - 2020 M061 (Class A) | ||||||||||||||||||
| 1,520,000 | g,i | Freddie Mac STACR REMIC Trust | 2.976 | 12/25/33 | 1,355 | |||||||||||||
| Series - 2021 HQA2 (Class M2) | ||||||||||||||||||
| 2,702,164 | g,i | Freddie Mac STACR REMIC Trust | 2.576 | 01/25/34 | 2,605 | |||||||||||||
| Series - 2021 DNA5 (Class M2) | ||||||||||||||||||
| 2,640,000 | g,i | Freddie Mac STACR REMIC Trust | 3.426 | 01/25/42 | 2,235 | |||||||||||||
| Series - 2022 DNA1 (Class M2) | ||||||||||||||||||
| 6,140,000 | g,i | Freddie Mac STACR REMIC Trust | 3.826 | 04/25/42 | 5,772 | |||||||||||||
| Series - 2022 DNA3 (Class M1B) | ||||||||||||||||||
| 2,972,000 | g,i | GS Mortgage Securities Corp II | 5.067 | 03/10/33 | 2,756 | |||||||||||||
| Series - 2018 GS10 (Class WLSC) | ||||||||||||||||||
| 2,000,000 | g,i | GS Mortgage Securities Trust | LIBOR 1 M + 1.090% | 2.420 | 10/15/31 | 1,949 | ||||||||||||
| Series - 2018 HART (Class A) | ||||||||||||||||||
| 3,000,000 | GS Mortgage Securities Trust | 3.143 | 10/10/49 | 2,823 | ||||||||||||||
| Series - 2016 GS3 (Class AS) | ||||||||||||||||||
| 830,000 | i | GS Mortgage Securities Trust | 4.080 | 11/10/49 | 736 | |||||||||||||
| Series - 2016 GS4 (Class C) | ||||||||||||||||||
| 1,002,227 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.500 | 07/25/50 | 924 | |||||||||||||
| Series - 2020 PJ2 (Class A4) | ||||||||||||||||||
| 399,547 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.000 | 01/25/51 | 354 | |||||||||||||
| Series - 2020 PJ4 (Class A4) | ||||||||||||||||||
| 314,791 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.000 | 03/27/51 | 276 | |||||||||||||
| Series - 2020 PJ5 (Class A4) | ||||||||||||||||||
| 394 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 1,016,060 | g,i | GS Mortgage-Backed Securities Corp Trust | 2.500 | % | 05/25/51 | $ | 851 | ||||||||||
| Series - 2020 PJ6 (Class A4) | ||||||||||||||||||
| 2,923,433 | g,i | GS Mortgage-Backed Securities Corp Trust | 2.500 | 10/25/51 | 2,446 | |||||||||||||
| Series - 2021 PJ5 (Class A4) | ||||||||||||||||||
| 5,224,360 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.000 | 06/25/52 | 4,625 | |||||||||||||
| Series - 2022 PJ2 (Class A36) | ||||||||||||||||||
| 2,503,370 | g,i | GS Mortgage-Backed Securities Corp Trust | 3.000 | 09/25/52 | 2,192 | |||||||||||||
| Series - 2022 PJ4 (Class A36) | ||||||||||||||||||
| 422,289 | g,i | GS Mortgage-Backed Securities Trust | 3.642 | 05/25/50 | 374 | |||||||||||||
| Series - 2020 PJ1 (Class B2) | ||||||||||||||||||
| 1,172,816 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 07/25/51 | 982 | |||||||||||||
| Series - 2021 PJ2 (Class A4) | ||||||||||||||||||
| 8,665,792 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 11/25/51 | 7,234 | |||||||||||||
| Series - 2021 PJ6 (Class A4) | ||||||||||||||||||
| 10,988,212 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 01/25/52 | 9,179 | |||||||||||||
| Series - 2021 PJ7 (Class A4) | ||||||||||||||||||
| 5,027,894 | g,i | GS Mortgage-Backed Securities Trust | 2.500 | 01/25/52 | 4,209 | |||||||||||||
| Series - 2021 PJ8 (Class A4) | ||||||||||||||||||
| 5,613,903 | g,i | GS Mortgage-Backed Securities Trust | 3.000 | 10/25/52 | 4,885 | |||||||||||||
| Series - 2022 PJ5 (Class A36) | ||||||||||||||||||
| 663,521 | i | HarborView Mortgage Loan Trust | LIBOR 1 M + 0.620% | 2.232 | 08/19/45 | 618 | ||||||||||||
| Series - 2005 11 (Class 2A1A) | ||||||||||||||||||
| 6,000,000 | g | Hudson Yards Mortgage Trust | 2.835 | 08/10/38 | 5,550 | |||||||||||||
| Series - 2016 10HY (Class A) | ||||||||||||||||||
| 5,000,000 | g,i | Hudson Yards Mortgage Trust | 3.076 | 08/10/38 | 4,625 | |||||||||||||
| Series - 2016 10HY (Class B) | ||||||||||||||||||
| 5,000,000 | g,i | Hudson Yards Mortgage Trust | 3.076 | 08/10/38 | 4,547 | |||||||||||||
| Series - 2016 10HY (Class C) | ||||||||||||||||||
| 7,000,000 | g | Hudson Yards Mortgage Trust | 3.228 | 07/10/39 | 6,315 | |||||||||||||
| Series - 2019 30HY (Class A) | ||||||||||||||||||
| 7,000,000 | g,i | Hudson Yards Mortgage Trust | 3.041 | 12/10/41 | 5,595 | |||||||||||||
| Series - 2019 55HY (Class E) | ||||||||||||||||||
| 2,500,000 | g,i | Hudson Yards Mortgage Trust | 3.041 | 12/10/41 | 1,933 | |||||||||||||
| Series - 2019 55HY (Class F) | ||||||||||||||||||
| 1,000,000 | g,i | Hudson Yards Mortgage Trust | 3.041 | 12/10/41 | 833 | |||||||||||||
| Series - 2019 55HY (Class D) | ||||||||||||||||||
| 149,446 | i | Impac CMB Trust | LIBOR 1 M + 0.660% | 2.284 | 03/25/35 | 145 | ||||||||||||
| Series - 2004 11 (Class 2A1) | ||||||||||||||||||
| 480,000 | g,i | Imperial Fund Mortgage Trust | 3.531 | 10/25/55 | 443 | |||||||||||||
| Series - 2020 NQM1 (Class M1) | ||||||||||||||||||
| 2,800,000 | JP Morgan Chase Commercial Mortgage Securities Corp | 3.372 | 12/15/47 | 2,779 | ||||||||||||||
| Series - 2013 C10 (Class AS) | ||||||||||||||||||
| 2,000,000 | g,i | JP Morgan Chase Commercial Mortgage Securities Trust | LIBOR 1 M + 2.170% | 3.495 | 10/15/33 | 1,890 | ||||||||||||
| Series - 2020 609M (Class C) | ||||||||||||||||||
| 2,099,031 | g,i | JP Morgan Mortgage Trust | LIBOR 1 M - 0.000% | 2.174 | 12/25/44 | 2,074 | ||||||||||||
| Series - 2015 1 (Class B1) | ||||||||||||||||||
| 93,607 | g,i | JP Morgan Mortgage Trust | 3.500 | 05/25/45 | 89 | |||||||||||||
| Series - 2015 3 (Class A19) | ||||||||||||||||||
| 489,840 | g,i | JP Morgan Mortgage Trust | 3.500 | 10/25/45 | 454 | |||||||||||||
| Series - 2015 6 (Class A13) | ||||||||||||||||||
| 395 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 223,990 | g,i | JP Morgan Mortgage Trust | 3.500 | % | 05/25/46 | $ | 212 | ||||||||||
| Series - 2016 1 (Class A13) | ||||||||||||||||||
| 241,736 | g,i | JP Morgan Mortgage Trust | 3.500 | 05/25/47 | 228 | |||||||||||||
| Series - 2017 2 (Class A13) | ||||||||||||||||||
| 251,745 | g,i | JP Morgan Mortgage Trust | 3.500 | 09/25/48 | 232 | |||||||||||||
| Series - 2018 3 (Class A13) | ||||||||||||||||||
| 169,533 | g,i | JP Morgan Mortgage Trust | 3.500 | 10/25/48 | 157 | |||||||||||||
| Series - 2018 4 (Class A13) | ||||||||||||||||||
| 870,719 | g,i | JP Morgan Mortgage Trust | 3.500 | 10/25/48 | 805 | |||||||||||||
| Series - 2018 5 (Class A13) | ||||||||||||||||||
| 878,687 | g,i | JP Morgan Mortgage Trust | 3.053 | 10/26/48 | 862 | |||||||||||||
| Series - 2017 5 (Class A2) | ||||||||||||||||||
| 117,415 | g,i | JP Morgan Mortgage Trust | 4.000 | 01/25/49 | 115 | |||||||||||||
| Series - 2018 8 (Class A13) | ||||||||||||||||||
| 227,206 | g,i | JP Morgan Mortgage Trust | 4.000 | 02/25/49 | 222 | |||||||||||||
| Series - 2018 9 (Class A13) | ||||||||||||||||||
| 39,880 | g,i | JP Morgan Mortgage Trust | 4.000 | 05/25/49 | 39 | |||||||||||||
| Series - 2019 1 (Class A3) | ||||||||||||||||||
| 258,741 | g,i | JP Morgan Mortgage Trust | 4.000 | 05/25/49 | 254 | |||||||||||||
| Series - 2019 1 (Class A15) | ||||||||||||||||||
| 535,226 | g,i | JP Morgan Mortgage Trust | LIBOR 1 M + 0.950% | 2.574 | 10/25/49 | 529 | ||||||||||||
| Series - 2019 INV1 (Class A11) | ||||||||||||||||||
| 1,600,657 | g,i | JP Morgan Mortgage Trust | 3.852 | 06/25/50 | 1,440 | |||||||||||||
| Series - 2020 1 (Class B2) | ||||||||||||||||||
| 4,544,279 | g,i | JP Morgan Mortgage Trust | 2.500 | 10/25/51 | 3,804 | |||||||||||||
| Series - 2021 6 (Class A15) | ||||||||||||||||||
| 2,375,801 | g,i | JP Morgan Mortgage Trust | 2.500 | 11/25/51 | 1,989 | |||||||||||||
| Series - 2021 7 (Class A15) | ||||||||||||||||||
| 3,007,706 | g,i | JP Morgan Mortgage Trust | 2.500 | 12/25/51 | 2,518 | |||||||||||||
| Series - 2021 8 (Class A15) | ||||||||||||||||||
| 1,272,740 | g,i | JP Morgan Mortgage Trust | 2.500 | 12/25/51 | 1,065 | |||||||||||||
| Series - 2021 10 (Class A15) | ||||||||||||||||||
| 4,277,413 | g,i | JP Morgan Mortgage Trust | 2.500 | 01/25/52 | 3,577 | |||||||||||||
| Series - 2021 11 (Class A15) | ||||||||||||||||||
| 1,183,445 | g,i | JP Morgan Mortgage Trust | 2.500 | 02/25/52 | 990 | |||||||||||||
| Series - 2021 12 (Class A15) | ||||||||||||||||||
| 1,962,301 | g,i | JP Morgan Mortgage Trust | 2.500 | 05/25/52 | 1,638 | |||||||||||||
| Series - 2021 14 (Class A15) | ||||||||||||||||||
| 6,179,233 | g,i | JP Morgan Mortgage Trust | 2.500 | 06/25/52 | 5,159 | |||||||||||||
| Series - 2021 15 (Class A15) | ||||||||||||||||||
| 7,421,863 | g,i | JP Morgan Mortgage Trust | 3.000 | 08/25/52 | 6,576 | |||||||||||||
| Series - 2022 2 (Class A25) | ||||||||||||||||||
| 6,752,806 | g,i | JP Morgan Mortgage Trust | 3.500 | 09/25/52 | 6,173 | |||||||||||||
| Series - 2022 LTV2 (Class A6) | ||||||||||||||||||
| 10,000,000 | g | Liberty Street Trust | 3.597 | 02/10/36 | 9,585 | |||||||||||||
| Series - 2016 225L (Class A) | ||||||||||||||||||
| 4,000,000 | g,i | MAD Mortgage Trust | 3.294 | 08/15/34 | 3,853 | |||||||||||||
| Series - 2017 330M (Class A) | ||||||||||||||||||
| 4,000,000 | g,i | MAD Mortgage Trust | 3.478 | 08/15/34 | 3,798 | |||||||||||||
| Series - 2017 330M (Class B) | ||||||||||||||||||
| 3,000,000 | g,i | Manhattan West | 2.413 | 09/10/39 | 2,565 | |||||||||||||
| Series - 2020 1MW (Class C) | ||||||||||||||||||
| 2,000,000 | g | Manhattan West Mortgage Trust | 2.130 | 09/10/39 | 1,759 | |||||||||||||
| Series - 2020 1MW (Class A) | ||||||||||||||||||
| 396 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 2,169,000 | g,i | Menora Mivtachim Holdings Ltd | 4.070 | % | 02/15/42 | $ | 1,675 | ||||||||||
| Series - 2022 C1 (Class 360D) | ||||||||||||||||||
| 132,584 | †,i | Morgan Stanley Capital I Trust | 6.282 | 12/12/49 | 66 | |||||||||||||
| Series - 2007 IQ16 (Class AJFX) | ||||||||||||||||||
| 1,006,470 | g,i | Morgan Stanley Residential Mortgage Loan Trust | 2.500 | 07/25/51 | 909 | |||||||||||||
| Series - 2021 4 (Class A4) | ||||||||||||||||||
| 4,077,062 | g,i | Morgan Stanley Residential Mortgage Loan Trust | 2.500 | 08/25/51 | 3,414 | |||||||||||||
| Series - 2021 5 (Class A9) | ||||||||||||||||||
| 3,105,358 | g,i | Morgan Stanley Residential Mortgage Loan Trust | 2.500 | 09/25/51 | 2,825 | |||||||||||||
| Series - 2021 6 (Class A4) | ||||||||||||||||||
| 2,630,333 | g,i | Morgan Stanley Residential Mortgage Loan Trust | 2.500 | 09/25/51 | 2,203 | |||||||||||||
| Series - 2021 6 (Class A9) | ||||||||||||||||||
| 3,000,000 | g,i | MSDB Trust | 3.427 | 07/11/39 | 2,775 | |||||||||||||
| Series - 2017 712F (Class A) | ||||||||||||||||||
| 5,750,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 1.500% | 2.824 | 07/15/36 | 5,663 | ||||||||||||
| Series - 2019 MILE (Class A) | ||||||||||||||||||
| 4,250,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 2.200% | 3.524 | 07/15/36 | 4,152 | ||||||||||||
| Series - 2019 MILE (Class C) | ||||||||||||||||||
| 9,800,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 3.500% | 4.824 | 07/15/36 | 9,363 | ||||||||||||
| Series - 2019 MILE (Class E) | ||||||||||||||||||
| 1,500,000 | g,i | Natixis Commercial Mortgage Securities Trust | LIBOR 1 M + 4.250% | 5.574 | 07/15/36 | 1,418 | ||||||||||||
| Series - 2019 MILE (Class F) | ||||||||||||||||||
| 544,275 | g,i | New Residential Mortgage Loan Trust | 2.797 | 09/25/59 | 525 | |||||||||||||
| Series - 2019 NQM4 (Class A3) | ||||||||||||||||||
| 470,000 | g,i | New Residential Mortgage Loan Trust | 2.986 | 09/25/59 | 428 | |||||||||||||
| Series - 2019 NQM4 (Class M1) | ||||||||||||||||||
| 60,109 | i | New York Mortgage Trust | LIBOR 1 M + 0.480% | 2.104 | 02/25/36 | 59 | ||||||||||||
| Series - 2005 3 (Class A1) | ||||||||||||||||||
| 5,439,612 | g,i | OBX Trust | 2.500 | 07/25/51 | 4,539 | |||||||||||||
| Series - 2021 J2 (Class A19) | ||||||||||||||||||
| 388,762 | g,i | OBX Trust | LIBOR 1 M + 0.650% | 2.274 | 06/25/57 | 380 | ||||||||||||
| Series - 2018 1 (Class A2) | ||||||||||||||||||
| 1,668,578 | g,i | Oceanview Mortgage Trust | 2.500 | 05/25/51 | 1,396 | |||||||||||||
| Series - 2021 1 (Class A19) | ||||||||||||||||||
| 11,800,000 | g | One Bryant Park Trust | 2.516 | 09/15/54 | 10,196 | |||||||||||||
| Series - 2019 OBP (Class A) | ||||||||||||||||||
| 4,699,000 | g | One Market Plaza Trust | 3.614 | 02/10/32 | 4,612 | |||||||||||||
| Series - 2017 1MKT (Class A) | ||||||||||||||||||
| 1,000,000 | g | One Market Plaza Trust | 3.845 | 02/10/32 | 969 | |||||||||||||
| Series - 2017 1MKT (Class B) | ||||||||||||||||||
| 4,800,366 | g,i | RCKT Mortgage Trust | 2.500 | 09/25/51 | 4,024 | |||||||||||||
| Series - 2021 4 (Class A21) | ||||||||||||||||||
| 7,440,646 | g,i | RCKT Mortgage Trust | 2.500 | 02/25/52 | 6,199 | |||||||||||||
| Series - 2022 2 (Class A22) | ||||||||||||||||||
| 5,680,000 | g,i | RCKT Mortgage Trust | 3.500 | 06/25/52 | 5,070 | |||||||||||||
| Series - 2022 4 (Class A22) | ||||||||||||||||||
| 494,595 | g,i | Sequoia Mortgage Trust | 3.500 | 05/25/45 | 459 | |||||||||||||
| Series - 2015 2 (Class A1) | ||||||||||||||||||
| 202,972 | g,i | Sequoia Mortgage Trust | 3.500 | 06/25/46 | 192 | |||||||||||||
| Series - 2016 1 (Class A19) | ||||||||||||||||||
| 397 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 467,056 | g,i | Sequoia Mortgage Trust | 3.500 | % | 04/25/47 | $ | 431 | ||||||||||
| Series - 2017 3 (Class A19) | ||||||||||||||||||
| 682,033 | g,i | Sequoia Mortgage Trust | 3.723 | 09/25/47 | 629 | |||||||||||||
| Series - 2017 6 (Class B1) | ||||||||||||||||||
| 103,872 | g,i | Sequoia Mortgage Trust | 3.500 | 02/25/48 | 98 | |||||||||||||
| Series - 2018 2 (Class A19) | ||||||||||||||||||
| 14,169 | g,i | Sequoia Mortgage Trust | 4.000 | 09/25/48 | 14 | |||||||||||||
| Series - 2018 7 (Class A19) | ||||||||||||||||||
| 82,878 | g,i | Sequoia Mortgage Trust | 4.000 | 06/25/49 | 82 | |||||||||||||
| Series - 2019 2 (Class A19) | ||||||||||||||||||
| 204,938 | g,i | Sequoia Mortgage Trust | 3.500 | 12/25/49 | 191 | |||||||||||||
| Series - 2019 5 (Class A19) | ||||||||||||||||||
| 1,575,034 | g,i | Sequoia Mortgage Trust | 3.000 | 04/25/50 | 1,384 | |||||||||||||
| Series - 2020 3 (Class A19) | ||||||||||||||||||
| 2,974,488 | g,i | Sequoia Mortgage Trust | 2.500 | 06/25/51 | 2,486 | |||||||||||||
| Series - 2021 4 (Class A19) | ||||||||||||||||||
| 317,951 | g,i | Shellpoint Co-Originator Trust | 3.500 | 10/25/47 | 300 | |||||||||||||
| Series - 2017 2 (Class A1) | ||||||||||||||||||
| 11,640,000 | g | SLG Office Trust | 2.585 | 07/15/41 | 9,873 | |||||||||||||
| Series - 2021 OVA (Class A) | ||||||||||||||||||
| 5,350,000 | g,i | Structured Agency Credit Risk Debt Note (STACR) | 3.026 | 10/25/33 | 4,947 | |||||||||||||
| Series - 2021 DNA3 (Class M2) | ||||||||||||||||||
| 58,931 | g,i | STACR | 3.761 | 02/25/48 | 58 | |||||||||||||
| Series - 2018 SPI1 (Class M2) | ||||||||||||||||||
| 74,055 | g,i | STACR | 3.827 | 05/25/48 | 73 | |||||||||||||
| Series - 2018 SPI2 (Class M2) | ||||||||||||||||||
| 65,000 | g,i | STACR | 4.926 | 11/25/50 | 61 | |||||||||||||
| Series - 2020 HQA5 (Class B1) | ||||||||||||||||||
| 1,125,000 | g,i | STWD Mortgage Trust | LIBOR 1 M + 1.257% | 2.581 | 11/15/36 | 1,075 | ||||||||||||
| Series - 2021 LIH (Class AS) | ||||||||||||||||||
| 4,000,000 | g | SUMIT Mortgage Trust | 2.789 | 02/12/41 | 3,561 | |||||||||||||
| Series - 2022 BVUE (Class A) | ||||||||||||||||||
| 982,000 | g,i | Verus Securitization Trust | 3.207 | 11/25/59 | 974 | |||||||||||||
| Series - 2019 4 (Class M1) | ||||||||||||||||||
| 601,638 | g | Verus Securitization Trust | 1.733 | 05/25/65 | 563 | |||||||||||||
| Series - 2020 5 (Class A3) | ||||||||||||||||||
| 2,863,574 | g,i | Verus Securitization Trust | 2.240 | 10/25/66 | 2,533 | |||||||||||||
| Series - 2021 7 (Class A3) | ||||||||||||||||||
| 1,030,000 | Wells Fargo Commercial Mortgage Trust | 3.539 | 10/15/45 | 1,029 | ||||||||||||||
| Series - 2012 LC5 (Class AS) | ||||||||||||||||||
| 65,304 | g,i | Wells Fargo Mortgage Backed Securities Trust | 4.000 | 04/25/49 | 64 | |||||||||||||
| Series - 2019 2 (Class A17) | ||||||||||||||||||
| 278,443 | g,i | Wells Fargo Mortgage Backed Securities Trust | 3.000 | 07/25/50 | 244 | |||||||||||||
| Series - 2020 4 (Class A17) | ||||||||||||||||||
| 7,353,853 | g,i | Wells Fargo Mortgage Backed Securities Trust | 2.500 | 06/25/51 | 6,144 | |||||||||||||
| Series - 2021 2 (Class A17) | ||||||||||||||||||
| 2,529,226 | g,i | Wells Fargo Mortgage Backed Securities Trust | 2.500 | 12/25/51 | 2,111 | |||||||||||||
| Series - 2022 2 (Class A18) | ||||||||||||||||||
| 398 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||||
| $ | 192,402 | g,i | WinWater Mortgage Loan Trust | 3.908 | % | 06/20/44 | $ | 180 | ||||||||||
| Series - 2014 1 (Class B4) | ||||||||||||||||||
| 3,577,015 | g,i | Woodward Capital Management | 3.000 | 05/25/52 | 3,099 | |||||||||||||
| Series - 2022 3 (Class A21) | ||||||||||||||||||
| TOTAL OTHER MORTGAGE BACKED | 568,462 | |||||||||||||||||
| TOTAL STRUCTURED ASSETS | 827,585 | |||||||||||||||||
| (Cost $916,054) | ||||||||||||||||||
| TOTAL BONDS | 7,073,005 | |||||||||||||||||
| (Cost $7,747,797) | ||||||||||||||||||
| SHARES | COMPANY | |||||||||
| COMMON STOCKS - 56.7% | ||||||||||
| AUTOMOBILES & COMPONENTS - 1.4% | ||||||||||
| 229,881 | * | American Axle & Manufacturing Holdings, Inc | 1,731 | |||||||
| 124,010 | * | Aptiv plc | 11,045 | |||||||
| 168,484 | Bayerische Motoren Werke AG. | 13,061 | ||||||||
| 63,469 | Bayerische Motoren Werke AG. (Preference) | 4,527 | ||||||||
| 14,525 | BorgWarner, Inc | 485 | ||||||||
| 404,472 | Cie Generale des Etablissements Michelin S.C.A | 11,046 | ||||||||
| 201,288 | Daimler AG. (Registered) | 11,690 | ||||||||
| 275,872 | * | Lordstown Motors Corp | 436 | |||||||
| 188,001 | Magna International, Inc | 10,323 | ||||||||
| 39,191 | * | Modine Manufacturing Co | 413 | |||||||
| 492 | *,e | Rivian Automotive, Inc | 13 | |||||||
| 200,200 | * | Tesla, Inc | 134,819 | |||||||
| 2,511,300 | * | Toyota Motor Corp | 38,748 | |||||||
| 243,482 | Valeo S.A. | 4,744 | ||||||||
| TOTAL AUTOMOBILES & COMPONENTS | 243,081 | |||||||||
| BANKS - 2.9% | ||||||||||
| 2,364 | Ameris Bancorp | 95 | ||||||||
| 1,021,856 | Australia & New Zealand Banking Group Ltd | 15,564 | ||||||||
| 2,921,198 | Banco Bilbao Vizcaya Argentaria S.A. | 13,270 | ||||||||
| 1,238,840 | Bank Hapoalim Ltd | 10,403 | ||||||||
| 207,025 | Bank of Montreal | 19,908 | ||||||||
| 365,664 | Bank of Nova Scotia | 21,641 | ||||||||
| 50,471 | Bank OZK | 1,894 | ||||||||
| 2,405 | Banner Corp | 135 | ||||||||
| 50,885 | Berkshire Hills Bancorp, Inc | 1,260 | ||||||||
| 2,949,000 | BOC Hong Kong Holdings Ltd | 11,710 | ||||||||
| 8,511 | Brookline Bancorp, Inc | 113 | ||||||||
| 1,840 | Cadence BanCorp | 43 | ||||||||
| 6,038 | Camden National Corp | 266 | ||||||||
| 333,495 | Canadian Imperial Bank of Commerce | 16,195 | ||||||||
| 934,241 | Citigroup, Inc | 42,966 | ||||||||
| 526,419 | Citizens Financial Group, Inc | 18,788 | ||||||||
| 2,120 | Columbia Banking System, Inc | 61 | ||||||||
| 118,712 | Comerica, Inc | 8,711 | ||||||||
| 399 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 784 | Commerce Bancshares, Inc | $ | 51 | |||||||
| 439,243 | Commonwealth Bank of Australia | 27,442 | ||||||||
| 889 | Community Trust Bancorp, Inc | 36 | ||||||||
| 3,881 | Cullen/Frost Bankers, Inc | 452 | ||||||||
| 47,906 | * | Customers Bancorp, Inc | 1,624 | |||||||
| 701,393 | DBS Group Holdings Ltd | 15,008 | ||||||||
| 90,936 | Erste Bank der Oesterreichischen Sparkassen AG. | 2,311 | ||||||||
| 7,467 | Federal Agricultural Mortgage Corp (FAMC) | 729 | ||||||||
| 7,030 | First Busey Corp | 161 | ||||||||
| 47,961 | First Interstate Bancsystem, Inc | 1,828 | ||||||||
| 50,469 | First Republic Bank | 7,278 | ||||||||
| 1,019 | Glacier Bancorp, Inc | 48 | ||||||||
| 1,984 | Hancock Whitney Corp | 88 | ||||||||
| 616,500 | Hang Seng Bank Ltd | 10,925 | ||||||||
| 4,964 | Heritage Financial Corp | 125 | ||||||||
| 19,873 | HomeStreet, Inc | 689 | ||||||||
| 5,138,647 | HSBC Holdings plc | 33,568 | ||||||||
| 320,493 | Huntington Bancshares, Inc | 3,856 | ||||||||
| 7,422,427 | Intesa Sanpaolo S.p.A. | 13,891 | ||||||||
| 196,067 | KBC Groep NV | 11,031 | ||||||||
| 241,046 | Keycorp | 4,153 | ||||||||
| 25,729 | Live Oak Bancshares, Inc | 872 | ||||||||
| 17,431 | * | Mr Cooper Group, Inc | 640 | |||||||
| 27,409 | National Bank Holdings Corp | 1,049 | ||||||||
| 39,440 | National Bank of Canada | 2,588 | ||||||||
| 9,051 | Old National Bancorp | 134 | ||||||||
| 1,100 | Oversea-Chinese Banking Corp | 9 | ||||||||
| 58,756 | Pinnacle Financial Partners, Inc | 4,249 | ||||||||
| 261,888 | PNC Financial Services Group, Inc | 41,318 | ||||||||
| 756,972 | Regions Financial Corp | 14,193 | ||||||||
| 1,852,800 | Resona Holdings, Inc | 6,930 | ||||||||
| 484,345 | Societe Generale | 10,709 | ||||||||
| 1,705,724 | Standard Chartered plc | 12,877 | ||||||||
| 346,100 | Sumitomo Mitsui Trust Holdings, Inc | 10,697 | ||||||||
| 21,623 | * | SVB Financial Group | 8,541 | |||||||
| 2,226 | * | Texas Capital Bancshares, Inc | 117 | |||||||
| 6,965 | TFS Financial Corp | 96 | ||||||||
| 20,196 | * | The Bancorp, Inc | 394 | |||||||
| 459,471 | Toronto-Dominion Bank | 30,130 | ||||||||
| 4,787 | Trico Bancshares | 219 | ||||||||
| 581,017 | Truist Financial Corp | 27,558 | ||||||||
| 2,114 | UMB Financial Corp | 182 | ||||||||
| 18,027 | Univest Financial Corp | 459 | ||||||||
| 2,021 | Westamerica Bancorporation | 113 | ||||||||
| 1,110 | Wintrust Financial Corp | 89 | ||||||||
| 10,858 | WSFS Financial Corp | 435 | ||||||||
| 57,728 | Zions Bancorporation | 2,938 | ||||||||
| TOTAL BANKS | 495,853 | |||||||||
| CAPITAL GOODS - 3.4% | ||||||||||
| 240,951 | 3M Co | 31,181 | ||||||||
| 362 | A.O. Smith Corp | 20 | ||||||||
| 359,542 | ABB Ltd | 9,642 | ||||||||
| 400 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 790 | Acuity Brands, Inc | $ | 122 | |||||||
| 247 | Allegion plc | 24 | ||||||||
| 188,087 | Ashtead Group plc | 7,913 | ||||||||
| 469,637 | Assa Abloy AB | 10,022 | ||||||||
| 1,105,709 | * | Atlas Copco AB | 10,349 | |||||||
| 1,241,341 | * | Atlas Copco AB | 10,401 | |||||||
| 94,228 | * | Axon Enterprise, Inc | 8,779 | |||||||
| 688 | * | Beacon Roofing Supply, Inc | 35 | |||||||
| 11,104 | *,e | Bloom Energy Corp | 183 | |||||||
| 237,076 | Bouygues S.A. | 7,317 | ||||||||
| 39,132 | Brenntag AG. | 2,562 | ||||||||
| 356,826 | * | CAE, Inc | 8,793 | |||||||
| 19,327 | Carlisle Cos, Inc | 4,612 | ||||||||
| 273,764 | Carrier Global Corp | 9,762 | ||||||||
| 263,610 | Caterpillar, Inc | 47,123 | ||||||||
| 800,385 | CNH Industrial NV | 9,257 | ||||||||
| 39,191 | Cummins, Inc | 7,585 | ||||||||
| 76,259 | Curtiss-Wright Corp | 10,071 | ||||||||
| 39,200 | Daifuku Co Ltd | 2,243 | ||||||||
| 81,100 | Daikin Industries Ltd | 13,021 | ||||||||
| 92,545 | DCC plc | 5,758 | ||||||||
| 137,649 | Deere & Co | 41,222 | ||||||||
| 396 | Dover Corp | 48 | ||||||||
| 203,445 | Eaton Corp | 25,632 | ||||||||
| 59,664 | Eiffage S.A. | 5,397 | ||||||||
| 1,733 | EMCOR Group, Inc | 178 | ||||||||
| 54,610 | Emerson Electric Co | 4,344 | ||||||||
| 131,662 | Fastenal Co | 6,573 | ||||||||
| 98,411 | Ferguson plc | 11,024 | ||||||||
| 109,955 | Fortive Corp | 5,979 | ||||||||
| 1,653 | Fortune Brands Home & Security, Inc | 99 | ||||||||
| 422 | * | Generac Holdings, Inc | 89 | |||||||
| 12,219 | Herc Holdings, Inc | 1,102 | ||||||||
| 159,317 | Hexcel Corp | 8,334 | ||||||||
| 58,000 | * | Hitachi Construction Machinery Co Ltd | 1,288 | |||||||
| 1,155 | Husqvarna AB (B Shares) | 9 | ||||||||
| 1,811 | IDEX Corp | 329 | ||||||||
| 216,639 | Illinois Tool Works, Inc | 39,482 | ||||||||
| 361,745 | Johnson Controls International plc | 17,320 | ||||||||
| 1,220,570 | Keppel Corp Ltd | 5,702 | ||||||||
| 417,800 | Komatsu Ltd | 9,303 | ||||||||
| 383,900 | Kubota Corp | 5,753 | ||||||||
| 14,888 | Legrand S.A. | 1,105 | ||||||||
| 86 | Lennox International, Inc | 18 | ||||||||
| 70,700 | Marubeni Corp | 634 | ||||||||
| 191,233 | Masco Corp | 9,676 | ||||||||
| 107,738 | * | Mercury Systems, Inc | 6,931 | |||||||
| 501,500 | Mitsubishi Corp | 14,935 | ||||||||
| 7,392 | Moog, Inc (Class A) | 587 | ||||||||
| 57,642 | MTU Aero Engines Holding AG. | 10,560 | ||||||||
| 4,501 | * | MYR Group, Inc | 397 | |||||||
| 333,800 | Obayashi Corp | 2,428 | ||||||||
| 401 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 7,069 | Owens Corning, Inc | $ | 525 | |||||||
| 69,075 | PACCAR, Inc | 5,688 | ||||||||
| 455 | Pentair plc | 21 | ||||||||
| 396 | Quanta Services, Inc | 50 | ||||||||
| 43,630 | Rockwell Automation, Inc | 8,696 | ||||||||
| 4,744 | Rush Enterprises, Inc (Class A) | 229 | ||||||||
| 298,998 | Sandvik AB | 4,873 | ||||||||
| 168,489 | Schneider Electric S.A. | 20,076 | ||||||||
| 355,600 | Shimizu Corp | 1,964 | ||||||||
| 215,351 | Siemens AG. | 22,137 | ||||||||
| 829,300 | Singapore Technologies Engineering Ltd | 2,441 | ||||||||
| 81,375 | Skanska AB (B Shares) | 1,252 | ||||||||
| 29,742 | SKF AB (B Shares) | 441 | ||||||||
| 9,787 | Snap-On, Inc | 1,928 | ||||||||
| 77,937 | Trane Technologies plc | 10,122 | ||||||||
| 34,082 | * | United Rentals, Inc | 8,279 | |||||||
| 20,908 | * | Vectrus, Inc | 700 | |||||||
| 229,354 | Vestas Wind Systems A.S. | 4,877 | ||||||||
| 697,434 | Volvo AB (B Shares) | 10,852 | ||||||||
| 14,621 | W.W. Grainger, Inc | 6,644 | ||||||||
| 1,964 | e | Wabash National Corp | 27 | |||||||
| 351,801 | Wartsila Oyj (B Shares) | 2,758 | ||||||||
| 3,684 | * | WESCO International, Inc | 395 | |||||||
| 40,330 | Woodward Inc | 3,730 | ||||||||
| 47,485 | WSP Global, Inc | 5,369 | ||||||||
| 39,243 | Xylem, Inc | 3,068 | ||||||||
| 700 | Yaskawa Electric Corp | 23 | ||||||||
| TOTAL CAPITAL GOODS | 580,418 | |||||||||
| COMMERCIAL & PROFESSIONAL SERVICES - 0.9% | ||||||||||
| 834 | ABM Industries, Inc | 36 | ||||||||
| 33,977 | ACCO Brands Corp | 222 | ||||||||
| 134,701 | Adecco S.A. | 4,591 | ||||||||
| 1,000 | * | ASGN Inc | 90 | |||||||
| 372 | Booz Allen Hamilton Holding Co | 34 | ||||||||
| 3,969 | Brambles Ltd | 29 | ||||||||
| 17,641 | Cintas Corp | 6,589 | ||||||||
| 324,198 | * | Copart, Inc | 35,227 | |||||||
| 1,380 | * | FTI Consulting, Inc | 250 | |||||||
| 5,059 | Heidrick & Struggles International, Inc | 164 | ||||||||
| 120,130 | Intertek Group plc | 6,175 | ||||||||
| 154,820 | * | KAR Auction Services, Inc | 2,287 | |||||||
| 45,168 | Kelly Services, Inc (Class A) | 896 | ||||||||
| 37,996 | Randstad Holdings NV | 1,836 | ||||||||
| 299,100 | Recruit Holdings Co Ltd | 8,809 | ||||||||
| 674,477 | RELX plc | 18,313 | ||||||||
| 304 | Ritchie Bros Auctioneers, Inc | 20 | ||||||||
| 57,550 | Robert Half International, Inc | 4,310 | ||||||||
| 3,908 | SGS S.A. | 8,964 | ||||||||
| 13,665 | Teleperformance | 4,219 | ||||||||
| 133,646 | TransUnion | 10,690 | ||||||||
| 2,948 | * | TriNet Group, Inc | 229 | |||||||
| 15,743 | Verisk Analytics, Inc | 2,725 | ||||||||
| 163,893 | Waste Management, Inc | 25,072 | ||||||||
| 402 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 29,805 | Wolters Kluwer NV | $ | 2,889 | |||||||
| TOTAL COMMERCIAL & PROFESSIONAL SERVICES | 144,666 | |||||||||
| CONSUMER DURABLES & APPAREL - 1.1% | ||||||||||
| 74,165 | Adidas-Salomon AG. | 13,174 | ||||||||
| 543,400 | Barratt Developments plc | 3,040 | ||||||||
| 68,119 | Berkeley Group Holdings plc | 3,097 | ||||||||
| 93,508 | Burberry Group plc | 1,876 | ||||||||
| 51,782 | DR Horton, Inc | 3,427 | ||||||||
| 622 | Electrolux AB | 8 | ||||||||
| 111,512 | Essilor International S.A. | 16,907 | ||||||||
| 42,842 | Ethan Allen Interiors, Inc | 866 | ||||||||
| 68,431 | Gildan Activewear, Inc | 1,970 | ||||||||
| 58,468 | * | GoPro, Inc | 323 | |||||||
| 9,916 | * | Green Brick Partners, Inc | 194 | |||||||
| 804 | Hasbro, Inc | 66 | ||||||||
| 13,679 | Hermes International | 15,395 | ||||||||
| 25,198 | * | iRobot Corp | 926 | |||||||
| 18,915 | * | Lovesac Co | 520 | |||||||
| 30,662 | * | Lululemon Athletica, Inc | 8,359 | |||||||
| 10,439 | Newell Brands Inc | 199 | ||||||||
| 525,950 | Nike, Inc (Class B) | 53,752 | ||||||||
| 2,099 | * | NVR, Inc | 8,405 | |||||||
| 990,000 | Panasonic Corp | 7,993 | ||||||||
| 31,468 | Pandora AS | 1,999 | ||||||||
| 39,656 | Persimmon plc | 902 | ||||||||
| 714 | Pulte Homes, Inc | 28 | ||||||||
| 9,326 | Puma AG. Rudolf Dassler Sport | 619 | ||||||||
| 7,186 | PVH Corp | 409 | ||||||||
| 22,299 | SEB S.A. | 2,152 | ||||||||
| 296,900 | Sekisui House Ltd | 5,212 | ||||||||
| 141,735 | *,e | Sonos, Inc | 2,557 | |||||||
| 320,600 | Sony Corp | 26,147 | ||||||||
| 1,172,098 | Taylor Wimpey plc | 1,669 | ||||||||
| 94,128 | * | Tupperware Brands Corp | 597 | |||||||
| 62,501 | VF Corp | 2,761 | ||||||||
| TOTAL CONSUMER DURABLES & APPAREL | 185,549 | |||||||||
| CONSUMER SERVICES - 1.1% | ||||||||||
| 138,079 | * | Accor S.A. | 3,767 | |||||||
| 38,630 | e | ADT, Inc | 238 | |||||||
| 30,274 | * | American Public Education, Inc | 489 | |||||||
| 25,097 | * | Booking Holdings, Inc | 43,894 | |||||||
| 36,920 | * | Bright Horizons Family Solutions | 3,121 | |||||||
| 29,278 | Carriage Services, Inc | 1,161 | ||||||||
| 757,435 | Compass Group plc | 15,551 | ||||||||
| 85,084 | * | Dave & Buster’s Entertainment, Inc | 2,789 | |||||||
| 26,676 | Domino’s Pizza, Inc | 10,396 | ||||||||
| 40,919 | * | El Pollo Loco Holdings, Inc | 403 | |||||||
| 1,669 | Graham Holdings Co | 946 | ||||||||
| 266,854 | Hilton Worldwide Holdings, Inc | 29,738 | ||||||||
| 575 | IDP Education Ltd | 9 | ||||||||
| 177,301 | InterContinental Hotels Group plc | 9,423 | ||||||||
| 65,700 | Oriental Land Co Ltd | 9,175 | ||||||||
| 403 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 30,085 | * | Planet Fitness, Inc | $ | 2,046 | ||||||
| 3,541 | * | Shake Shack, Inc | 140 | |||||||
| 76,407 | * | Six Flags Entertainment Corp | 1,658 | |||||||
| 577,532 | Starbucks Corp | 44,118 | ||||||||
| 96,848 | * | Terminix Global Holdings, Inc | 3,937 | |||||||
| 21,354 | Vail Resorts, Inc | 4,656 | ||||||||
| 81,211 | Wendy’s | 1,533 | ||||||||
| 129,335 | Whitbread plc | 3,922 | ||||||||
| 95,091 | *,e | WW International Inc | 608 | |||||||
| TOTAL CONSUMER SERVICES | 193,718 | |||||||||
| DIVERSIFIED FINANCIALS - 3.6% | ||||||||||
| 758,051 | 3i Group plc | 10,275 | ||||||||
| 200,617 | Ally Financial, Inc | 6,723 | ||||||||
| 324,322 | American Express Co | 44,958 | ||||||||
| 68,442 | Ameriprise Financial, Inc | 16,267 | ||||||||
| 24,514 | Annaly Capital Management, Inc | 145 | ||||||||
| 571,062 | Bank of New York Mellon Corp | 23,819 | ||||||||
| 74,227 | BlackRock, Inc | 45,207 | ||||||||
| 540 | Carlyle Group, Inc | 17 | ||||||||
| 733,367 | Charles Schwab Corp | 46,334 | ||||||||
| 144,266 | CME Group, Inc | 29,531 | ||||||||
| 47,319 | Deutsche Boerse AG. | 7,946 | ||||||||
| 357,731 | Discover Financial Services | 33,834 | ||||||||
| 47,803 | Eurazeo | 2,970 | ||||||||
| 9,996 | Factset Research Systems, Inc | 3,844 | ||||||||
| 103,844 | e | Franklin Resources, Inc | 2,421 | |||||||
| 163,276 | Goldman Sachs Group, Inc | 48,496 | ||||||||
| 10,629 | * | Green Dot Corp | 267 | |||||||
| 351,146 | Hong Kong Exchanges and Clearing Ltd | 17,366 | ||||||||
| 377,156 | Intercontinental Exchange Group, Inc | 35,468 | ||||||||
| 43,051 | Invesco Ltd | 694 | ||||||||
| 159,305 | London Stock Exchange Group plc | 14,865 | ||||||||
| 20,217 | *,e | Lundin Energy MergerCo AB | 823 | |||||||
| 132,179 | Macquarie Group Ltd | 15,049 | ||||||||
| 20,516 | MarketAxess Holdings, Inc | 5,252 | ||||||||
| 88,313 | Moody’s Corp | 24,019 | ||||||||
| 615,356 | Morgan Stanley | 46,804 | ||||||||
| 25,768 | Nasdaq Inc | 3,931 | ||||||||
| 2,220,800 | * | Nomura Holdings, Inc | 8,068 | |||||||
| 133,240 | Northern Trust Corp | 12,855 | ||||||||
| 136,500 | ORIX Corp | 2,288 | ||||||||
| 5,978 | * | PRA Group, Inc | 217 | |||||||
| 2,150 | * | PROG Holdings, Inc | 35 | |||||||
| 9,000 | Raymond James Financial, Inc | 805 | ||||||||
| 159,824 | S&P Global, Inc | 53,870 | ||||||||
| 111,688 | Schroders plc | 3,649 | ||||||||
| 2,200 | Singapore Exchange Ltd | 15 | ||||||||
| 96,869 | St. James’s Place plc | 1,303 | ||||||||
| 2,388,396 | Standard Life Aberdeen plc | 4,662 | ||||||||
| 139,371 | State Street Corp | 8,592 | ||||||||
| 1,437 | Synchrony Financial | 40 | ||||||||
| 72,577 | T Rowe Price Group, Inc | 8,245 | ||||||||
| 1,140,159 | UBS Group AG | 18,433 | ||||||||
| 404 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 27,954 | e | Voya Financial, Inc | $ | 1,664 | ||||||
| 29,612 | Wendel | 2,482 | ||||||||
| TOTAL DIVERSIFIED FINANCIALS | 614,548 | |||||||||
| ENERGY - 2.9% | ||||||||||
| 402,618 | Antero Midstream Corp | 3,644 | ||||||||
| 195,724 | APA Corp | 6,831 | ||||||||
| 318,287 | e | ARC Resources Ltd | 4,013 | |||||||
| 293,113 | Baker Hughes Co | 8,462 | ||||||||
| 5,246,507 | BP plc | 24,635 | ||||||||
| 660,777 | Cenovus Energy, Inc | 12,572 | ||||||||
| 3,725 | ChampionX Corp | 74 | ||||||||
| 211,330 | Cheniere Energy, Inc | 28,113 | ||||||||
| 572,201 | ConocoPhillips | 51,389 | ||||||||
| 2,773 | * | Delek US Holdings, Inc | 72 | |||||||
| 165,899 | Devon Energy Corp | 9,143 | ||||||||
| 587,257 | Enbridge, Inc | 24,800 | ||||||||
| 2,808,200 | ENEOS Holdings, Inc | 10,567 | ||||||||
| 169,970 | EOG Resources, Inc | 18,771 | ||||||||
| 230,776 | EQT Corp | 7,939 | ||||||||
| 444,939 | Equinor ASA | 15,504 | ||||||||
| 537,285 | Galp Energia SGPS S.A. | 6,287 | ||||||||
| 1,424 | Halliburton Co | 45 | ||||||||
| 107,779 | Hess Corp | 11,418 | ||||||||
| 203,403 | e | Imperial Oil Ltd | 9,589 | |||||||
| 11,900 | Inpex Holdings, Inc | 127 | ||||||||
| 5,808 | e | Keyera Corp | 133 | |||||||
| 1,074,170 | Kinder Morgan, Inc | 18,003 | ||||||||
| 754,687 | * | Kosmos Energy Ltd | 4,671 | |||||||
| 20,217 | e | Lundin Petroleum AB | 14 | |||||||
| 102,791 | Marathon Petroleum Corp | 8,450 | ||||||||
| 263,195 | Neste Oil Oyj | 11,707 | ||||||||
| 348,621 | NOV, Inc | 5,895 | ||||||||
| 178,764 | Occidental Petroleum Corp | 10,526 | ||||||||
| 5,830 | * | Oceaneering International, Inc | 62 | |||||||
| 163,865 | OMV AG. | 7,707 | ||||||||
| 23,705 | ONEOK, Inc | 1,316 | ||||||||
| 20,321 | Ovintiv, Inc | 898 | ||||||||
| 170,132 | e | Parkland Corp | 4,621 | |||||||
| 776 | Phillips 66 | 64 | ||||||||
| 90,936 | Pioneer Natural Resources Co | 20,286 | ||||||||
| 872,643 | e | Repsol YPF S.A. | 12,864 | |||||||
| 1,016,355 | Schlumberger Ltd | 36,345 | ||||||||
| 820,135 | * | Southwestern Energy Co | 5,126 | |||||||
| 511,314 | Suncor Energy, Inc | 17,939 | ||||||||
| 636,418 | Total S.A. | 33,499 | ||||||||
| 227,929 | Valero Energy Corp | 24,224 | ||||||||
| 241,654 | Woodside Energy Group Ltd | 5,311 | ||||||||
| TOTAL ENERGY | 483,656 | |||||||||
| FOOD & STAPLES RETAILING - 0.7% | ||||||||||
| 220,700 | Aeon Co Ltd | 3,834 | ||||||||
| 357,735 | Alimentation Couche-Tard, Inc | 13,954 | ||||||||
| 211,466 | * | BJ’s Wholesale Club Holdings, Inc | 13,179 | |||||||
| 405 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 253,286 | Coles Group Ltd | $ | 3,117 | |||||||
| 77,367 | George Weston Ltd | 9,038 | ||||||||
| 1,743,514 | J Sainsbury plc | 4,339 | ||||||||
| 98,864 | Kesko Oyj (B Shares) | 2,340 | ||||||||
| 83,380 | Koninklijke Ahold Delhaize NV | 2,170 | ||||||||
| 131,921 | Loblaw Cos Ltd | 11,898 | ||||||||
| 37,655 | Metro, Inc | 2,021 | ||||||||
| 51,050 | * | Performance Food Group Co | 2,347 | |||||||
| 38,843 | Pricesmart, Inc | 2,782 | ||||||||
| 63,935 | SpartanNash Co | 1,929 | ||||||||
| 217,628 | *,e | Sprouts Farmers Market, Inc | 5,510 | |||||||
| 4,087,739 | Tesco plc | 12,740 | ||||||||
| 101,575 | * | United Natural Foods, Inc | 4,002 | |||||||
| 275,225 | * | US Foods Holding Corp | 8,444 | |||||||
| 394,030 | Woolworths Ltd | 9,678 | ||||||||
| TOTAL FOOD & STAPLES RETAILING | 113,322 | |||||||||
| FOOD, BEVERAGE & TOBACCO - 2.2% | ||||||||||
| 282,500 | Ajinomoto Co, Inc | 6,889 | ||||||||
| 79,480 | Archer-Daniels-Midland Co | 6,168 | ||||||||
| 396,182 | Associated British Foods plc | 7,645 | ||||||||
| 1,758 | Bunge Ltd | 159 | ||||||||
| 54,454 | Campbell Soup Co | 2,617 | ||||||||
| 1,254,533 | Coca-Cola Co | 78,923 | ||||||||
| 212,158 | * | Coca-Cola European Partners plc (Class A) | 10,949 | |||||||
| 224,192 | Coca-Cola HBC AG. | 4,995 | ||||||||
| 283,993 | Danone | 15,904 | ||||||||
| 14,883 | * | Darling International, Inc | 890 | |||||||
| 36,706 | Fresh Del Monte Produce, Inc | 1,084 | ||||||||
| 414,948 | General Mills, Inc | 31,308 | ||||||||
| 2,360 | * | Hain Celestial Group, Inc | 56 | |||||||
| 232,560 | Hormel Foods Corp | 11,014 | ||||||||
| 147,961 | Kellogg Co | 10,556 | ||||||||
| 117,888 | Kerry Group plc (Class A) | 11,274 | ||||||||
| 132,700 | Kikkoman Corp | 7,062 | ||||||||
| 81,660 | McCormick & Co, Inc | 6,798 | ||||||||
| 114,667 | Mowi ASA | 2,622 | ||||||||
| 604,554 | Nestle S.A. | 70,656 | ||||||||
| 29,600 | Nissin Food Products Co Ltd | 2,045 | ||||||||
| 304,982 | Orkla ASA | 2,443 | ||||||||
| 459,362 | PepsiCo, Inc | 76,557 | ||||||||
| 141,100 | Suntory Beverage & Food Ltd | 5,328 | ||||||||
| 6,454 | * | TreeHouse Foods, Inc | 270 | |||||||
| 1,632,100 | Wilmar International Ltd | 4,750 | ||||||||
| TOTAL FOOD, BEVERAGE & TOBACCO | 378,962 | |||||||||
| HEALTH CARE EQUIPMENT & SERVICES - 2.7% | ||||||||||
| 40,998 | * | Abiomed, Inc | 10,147 | |||||||
| 47,507 | * | Align Technology, Inc | 11,243 | |||||||
| 175,429 | * | Allscripts Healthcare Solutions, Inc | 2,602 | |||||||
| 136,598 | e | Amplifon S.p.A. | 4,200 | |||||||
| 64,063 | * | Angiodynamics, Inc | 1,240 | |||||||
| 8,730 | * | AtriCure, Inc | 357 | |||||||
| 1,253 | * | Axonics Modulation Technologies, Inc | 71 | |||||||
| 406 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 1,376 | Baxter International, Inc | $ | 88 | |||||||
| 45,447 | BioMerieux | 4,456 | ||||||||
| 4,607 | Cardinal Health, Inc | 241 | ||||||||
| 24,393 | Carl Zeiss Meditec AG. | 2,933 | ||||||||
| 249,927 | * | Cerus Corp | 1,322 | |||||||
| 185,105 | Cigna Corp | 48,779 | ||||||||
| 23,683 | Cochlear Ltd | 3,252 | ||||||||
| 50,637 | Coloplast AS | 5,786 | ||||||||
| 22,324 | * | Computer Programs & Systems, Inc | 714 | |||||||
| 38,899 | Cooper Cos, Inc | 12,180 | ||||||||
| 13,160 | * | Covetrus, Inc | 273 | |||||||
| 188 | * | DaVita, Inc | 15 | |||||||
| 265 | * | Demant A.S. | 10 | |||||||
| 197,075 | Dentsply Sirona, Inc | 7,041 | ||||||||
| 216,882 | * | Dexcom, Inc | 16,164 | |||||||
| 403,947 | * | Edwards Lifesciences Corp | 38,411 | |||||||
| 115,182 | Elevance Health, Inc | 55,585 | ||||||||
| 151,984 | * | Envista Holdings Corp | 5,857 | |||||||
| 334,461 | Fisher & Paykel Healthcare Corp | 4,167 | ||||||||
| 13,596 | * | Globus Medical, Inc | 763 | |||||||
| 82,796 | GN Store Nord | 2,921 | ||||||||
| 120,298 | HCA Healthcare, Inc | 20,217 | ||||||||
| 59,326 | * | Health Catalyst, Inc | 860 | |||||||
| 26,027 | * | Henry Schein, Inc | 1,997 | |||||||
| 5,801 | *,e | Heska Corp | 548 | |||||||
| 106,534 | * | Hologic, Inc | 7,383 | |||||||
| 96,758 | Humana, Inc | 45,290 | ||||||||
| 56,367 | * | IDEXX Laboratories, Inc | 19,770 | |||||||
| 8,609 | * | Inogen, Inc | 208 | |||||||
| 527 | * | Insulet Corp | 115 | |||||||
| 166,811 | * | Intuitive Surgical, Inc | 33,481 | |||||||
| 43,017 | Laboratory Corp of America Holdings | 10,081 | ||||||||
| 27,738 | LeMaitre Vascular, Inc | 1,263 | ||||||||
| 8,932 | * | LivaNova plc | 558 | |||||||
| 1,869 | * | Meridian Bioscience, Inc | 57 | |||||||
| 39,504 | * | Merit Medical Systems, Inc | 2,144 | |||||||
| 98,516 | * | NextGen Healthcare, Inc | 1,718 | |||||||
| 257 | * | Novocure Ltd | 18 | |||||||
| 40,050 | *,e | Omnicell, Inc | 4,556 | |||||||
| 387,642 | *,e | Opko Health, Inc | 981 | |||||||
| 57,111 | * | OraSure Technologies, Inc | 155 | |||||||
| 32,369 | * | Orthofix Medical Inc | 762 | |||||||
| 13,628 | * | Penumbra, Inc | 1,697 | |||||||
| 2,830 | Premier, Inc | 101 | ||||||||
| 26,663 | Quest Diagnostics, Inc | 3,546 | ||||||||
| 49,098 | * | QuidelOrtho Corp | 4,771 | |||||||
| 143,876 | Ramsay Health Care Ltd | 7,287 | ||||||||
| 78,245 | Resmed, Inc | 16,402 | ||||||||
| 33,611 | Sonova Holdings AG | 10,741 | ||||||||
| 22,395 | * | Staar Surgical Co | 1,588 | |||||||
| 30,738 | STERIS plc | 6,337 | ||||||||
| 68,100 | Sysmex Corp | 4,109 | ||||||||
| 5,738 | * | Tactile Systems Technology, Inc | 42 | |||||||
| 407 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 15,158 | * | Tandem Diabetes Care, Inc | $ | 897 | ||||||
| 4,565 | * | Teladoc, Inc | 152 | |||||||
| TOTAL HEALTH CARE EQUIPMENT & SERVICES | 450,650 | |||||||||
| HOUSEHOLD & PERSONAL PRODUCTS - 1.2% | ||||||||||
| 33,243 | Beiersdorf AG. | 3,411 | ||||||||
| 16,496 | Clorox Co | 2,326 | ||||||||
| 293,681 | Colgate-Palmolive Co | 23,536 | ||||||||
| 367,053 | Essity AB | 9,595 | ||||||||
| 113,986 | Henkel KGaA | 7,003 | ||||||||
| 148,576 | Henkel KGaA (Preference) | 9,194 | ||||||||
| 172,700 | Kao Corp | 7,003 | ||||||||
| 61,948 | Kimberly-Clark Corp | 8,372 | ||||||||
| 71,650 | L’Oreal S.A. | 24,877 | ||||||||
| 674,396 | Procter & Gamble Co | 96,971 | ||||||||
| 220,600 | Shiseido Co Ltd | 8,892 | ||||||||
| 216,400 | e | Uni-Charm Corp | 7,262 | |||||||
| TOTAL HOUSEHOLD & PERSONAL PRODUCTS | 208,442 | |||||||||
| INSURANCE - 2.3% | ||||||||||
| 1,404,168 | Aegon NV | 6,047 | ||||||||
| 304,689 | Aflac, Inc | 16,859 | ||||||||
| 1,727,200 | AIA Group Ltd | 18,872 | ||||||||
| 115,468 | Allianz AG. | 22,136 | ||||||||
| 107,535 | Allstate Corp | 13,628 | ||||||||
| 11,647 | Arthur J. Gallagher & Co | 1,899 | ||||||||
| 713,225 | e | Assicurazioni Generali S.p.A. | 11,392 | |||||||
| 734,358 | AXA S.A. | 16,774 | ||||||||
| 250,168 | Chubb Ltd | 49,178 | ||||||||
| 1,006,914 | * | Genworth Financial, Inc (Class A) | 3,554 | |||||||
| 914 | Hartford Financial Services Group, Inc | 60 | ||||||||
| 1,068 | Insurance Australia Group Ltd | 3 | ||||||||
| 3,840,113 | Legal & General Group plc | 11,227 | ||||||||
| 81,139 | Lincoln National Corp | 3,795 | ||||||||
| 197,042 | Loews Corp | 11,677 | ||||||||
| 308,022 | Marsh & McLennan Cos, Inc | 47,820 | ||||||||
| 82,300 | MS&AD Insurance Group Holdings Inc | 2,524 | ||||||||
| 31,684 | Muenchener Rueckver AG. | 7,495 | ||||||||
| 225,357 | NN Group NV | 10,207 | ||||||||
| 720 | Principal Financial Group | 48 | ||||||||
| 279,416 | Progressive Corp | 32,488 | ||||||||
| 302,639 | Prudential Financial, Inc | 28,957 | ||||||||
| 304,703 | QBE Insurance Group Ltd | 2,560 | ||||||||
| 149,200 | Sompo Holdings, Inc | 6,590 | ||||||||
| 75,475 | Sun Life Financial, Inc | 3,458 | ||||||||
| 9,264 | Swiss Life Holding | 4,522 | ||||||||
| 121,443 | Swiss Re Ltd | 9,426 | ||||||||
| 145,273 | Travelers Cos, Inc | 24,570 | ||||||||
| 14,047 | Willis Towers Watson plc | 2,773 | ||||||||
| 48,428 | Zurich Insurance Group AG | 21,118 | ||||||||
| TOTAL INSURANCE | 391,657 | |||||||||
| MATERIALS - 2.4% | ||||||||||
| 117,018 | Agnico-Eagle Mines Ltd | 5,356 | ||||||||
| 408 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 63 | Akzo Nobel NV | $ | 4 | |||||||
| 19,088 | Amcor plc | 237 | ||||||||
| 446,174 | Antofagasta plc | 6,300 | ||||||||
| 10,825 | Aptargroup, Inc | 1,117 | ||||||||
| 480,800 | Asahi Kasei Corp | 3,658 | ||||||||
| 272,705 | Ball Corp | 18,754 | ||||||||
| 185,990 | BASF SE | 8,137 | ||||||||
| 287,508 | BlueScope Steel Ltd | 3,168 | ||||||||
| 270,061 | Boliden AB | 8,637 | ||||||||
| 83,968 | * | Century Aluminum Co | 619 | |||||||
| 290 | Chr Hansen Holding A/S | 21 | ||||||||
| 595 | * | Clariant AG. | 11 | |||||||
| 19,088 | * | Coeur Mining, Inc | 58 | |||||||
| 1,679 | Compass Minerals International, Inc | 59 | ||||||||
| 320,091 | CRH plc | 11,046 | ||||||||
| 41,736 | Croda International plc | 3,299 | ||||||||
| 109,413 | Dow, Inc | 5,647 | ||||||||
| 45,775 | DSM NV | 6,557 | ||||||||
| 219,088 | Ecolab, Inc | 33,687 | ||||||||
| 496,318 | Evolution Mining Ltd | 811 | ||||||||
| 127,194 | Evonik Industries AG. | 2,728 | ||||||||
| 956,824 | Fortescue Metals Group Ltd | 11,506 | ||||||||
| 58,042 | Franco-Nevada Corp | 7,635 | ||||||||
| 3,439 | Givaudan S.A. | 12,121 | ||||||||
| 52,353 | Glatfelter Corp | 360 | ||||||||
| 114,550 | HeidelbergCement AG. | 5,531 | ||||||||
| 204,900 | * | Hitachi Metals Ltd | 3,102 | |||||||
| 64,792 | International Flavors & Fragrances, Inc | 7,718 | ||||||||
| 1,576 | International Paper Co | 66 | ||||||||
| 309,800 | JFE Holdings, Inc | 3,259 | ||||||||
| 11,455 | Johnson Matthey plc | 270 | ||||||||
| 50,955 | Koppers Holdings, Inc | 1,154 | ||||||||
| 136,040 | Linde plc | 39,116 | ||||||||
| 16,798 | Martin Marietta Materials, Inc | 5,027 | ||||||||
| 187,801 | Mineral Resources Ltd | 6,303 | ||||||||
| 302,800 | Mitsubishi Chemical Holdings Corp | 1,645 | ||||||||
| 61,692 | Mitsui Chemicals, Inc | 1,316 | ||||||||
| 279,430 | Mondi plc | 4,960 | ||||||||
| 302,700 | Mosaic Co | 14,296 | ||||||||
| 605,266 | Newcrest Mining Ltd | 8,623 | ||||||||
| 470,116 | Newmont Goldcorp Corp | 28,052 | ||||||||
| 626,700 | Nippon Paint Co Ltd | 4,689 | ||||||||
| 600,800 | Nippon Steel Corp | 8,408 | ||||||||
| 89,700 | Nitto Denko Corp | 5,802 | ||||||||
| 1,424,795 | Norsk Hydro ASA | 8,052 | ||||||||
| 375,868 | Northern Star Resources Ltd | 1,763 | ||||||||
| 183,053 | Nucor Corp | 19,113 | ||||||||
| 197,992 | Nutrien Ltd | 15,768 | ||||||||
| 1,122 | Orica Ltd | 12 | ||||||||
| 20,642 | PPG Industries, Inc | 2,360 | ||||||||
| 2,785 | Reliance Steel & Aluminum Co | 473 | ||||||||
| 5,386 | Schnitzer Steel Industries, Inc (Class A) | 177 | ||||||||
| 116,800 | Shin-Etsu Chemical Co Ltd | 13,130 | ||||||||
| 48,119 | Sika AG. | 11,108 | ||||||||
| 409 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 678 | Smurfit Kappa Group plc | $ | 23 | |||||||
| 204 | Solvay S.A. | 17 | ||||||||
| 527 | Steel Dynamics, Inc | 35 | ||||||||
| 152,065 | Stora Enso Oyj (R Shares) | 2,409 | ||||||||
| 1,341,900 | Sumitomo Chemical Co Ltd | 5,252 | ||||||||
| 265,400 | Sumitomo Metal Mining Co Ltd | 8,228 | ||||||||
| 158,848 | * | Summit Materials, Inc | 3,700 | |||||||
| 369,939 | Svenska Cellulosa AB (B Shares) | 5,558 | ||||||||
| 9,000 | Toray Industries, Inc | 51 | ||||||||
| 30,132 | Trinseo plc | 1,159 | ||||||||
| 229,455 | Umicore S.A. | 8,043 | ||||||||
| 25,842 | UPM-Kymmene Oyj | 792 | ||||||||
| 112,930 | Voestalpine AG. | 2,414 | ||||||||
| 133,031 | Wheaton Precious Metals Corp | 4,793 | ||||||||
| TOTAL MATERIALS | 415,300 | |||||||||
| MEDIA & ENTERTAINMENT - 2.0% | ||||||||||
| 1,413 | *,e | AMC Entertainment Holdings, Inc | 19 | |||||||
| 78 | Cable One, Inc | 101 | ||||||||
| 195,835 | *,e | Cinemark Holdings, Inc | 2,941 | |||||||
| 1,203,172 | Comcast Corp (Class A) | 47,213 | ||||||||
| 144,850 | Electronic Arts, Inc | 17,621 | ||||||||
| 870 | Fox Corp (Class A) | 28 | ||||||||
| 409 | Fox Corp (Class B) | 12 | ||||||||
| 162,479 | Gray Television, Inc | 2,744 | ||||||||
| 109,942 | * | iHeartMedia, Inc | 868 | |||||||
| 9,348 | * | Imax Corp | 158 | |||||||
| 1,140,341 | * | Informa plc | 7,367 | |||||||
| 110,370 | Interpublic Group of Cos, Inc | 3,039 | ||||||||
| 14,063 | John Wiley & Sons, Inc (Class A) | 672 | ||||||||
| 192,911 | * | Liberty Broadband Corp (Class C) | 22,308 | |||||||
| 144,233 | * | Netflix, Inc | 25,222 | |||||||
| 62,705 | New York Times Co (Class A) | 1,750 | ||||||||
| 40,200 | Nintendo Co Ltd | 17,288 | ||||||||
| 332,326 | Omnicom Group, Inc | 21,139 | ||||||||
| 2,083 | Pearson plc | 19 | ||||||||
| 98,282 | * | Publicis Groupe S.A. | 4,834 | |||||||
| 146 | REA Group Ltd | 11 | ||||||||
| 5,556 | * | Roku, Inc | 456 | |||||||
| 23,416 | Scholastic Corp | 842 | ||||||||
| 10,426 | Seek Ltd | 151 | ||||||||
| 84,576 | Sinclair Broadcast Group, Inc (Class A) | 1,725 | ||||||||
| 1,449,913 | e | Sirius XM Holdings, Inc | 8,888 | |||||||
| 9,104 | * | Snap, Inc | 120 | |||||||
| 158,591 | * | Take-Two Interactive Software, Inc | 19,432 | |||||||
| 9,574 | TEGNA, Inc | 201 | ||||||||
| 195,838 | * | TripAdvisor, Inc | 3,486 | |||||||
| 867,260 | * | Twitter, Inc | 32,427 | |||||||
| 1,668 | e | ViacomCBS, Inc (Class B) | 41 | |||||||
| 121,660 | * | Vimeo, Inc | 732 | |||||||
| 634,400 | Vivendi Universal S.A. | 6,474 | ||||||||
| 576,928 | * | Walt Disney Co | 54,462 | |||||||
| 410 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 315,000 | * | Warner Bros Discovery, Inc | $ | 4,227 | ||||||
| 1,894 | e | World Wrestling Entertainment, Inc (Class A) | 118 | |||||||
| 766,310 | WPP plc | 7,741 | ||||||||
| 2,798,400 | Z Holdings Corp | 8,138 | ||||||||
| 310,898 | * | ZoomInfo Technologies, Inc | 10,334 | |||||||
| TOTAL MEDIA & ENTERTAINMENT | 335,349 | |||||||||
| PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.2% | ||||||||||
| 3,612 | * | Acadia Pharmaceuticals, Inc | 51 | |||||||
| 77,531 | *,e | Aerie Pharmaceuticals, Inc | 581 | |||||||
| 254,744 | Agilent Technologies, Inc | 30,256 | ||||||||
| 49,927 | * | Agios Pharmaceuticals, Inc | 1,107 | |||||||
| 204,942 | Amgen, Inc | 49,862 | ||||||||
| 1,724 | *,e | AnaptysBio, Inc | 35 | |||||||
| 789,014 | Astellas Pharma, Inc | 12,310 | ||||||||
| 347,630 | AstraZeneca plc | 45,860 | ||||||||
| 73,556 | * | Atara Biotherapeutics, Inc | 573 | |||||||
| 2,859 | *,e | Axsome Therapeutics, Inc | 109 | |||||||
| 99,760 | * | BioCryst Pharmaceuticals, Inc | 1,055 | |||||||
| 54,825 | * | Biogen, Inc | 11,181 | |||||||
| 53,286 | * | BioMarin Pharmaceutical, Inc | 4,416 | |||||||
| 820,482 | Bristol-Myers Squibb Co | 63,177 | ||||||||
| 469 | * | Catalent, Inc | 50 | |||||||
| 36,414 | * | Chimerix, Inc | 76 | |||||||
| 462,391 | Chugai Pharmaceutical Co Ltd | 11,828 | ||||||||
| 58,062 | * | Collegium Pharmaceutical, Inc | 1,029 | |||||||
| 127,542 | CSL Ltd | 23,681 | ||||||||
| 431,800 | Daiichi Sankyo Co Ltd | 10,982 | ||||||||
| 247,423 | Danaher Corp | 62,727 | ||||||||
| 117,600 | Eisai Co Ltd | 4,972 | ||||||||
| 259,748 | Eli Lilly & Co | 84,218 | ||||||||
| 2,088 | * | Exact Sciences Corp | 82 | |||||||
| 9,127 | * | Genmab AS | 2,961 | |||||||
| 418,897 | Gilead Sciences, Inc | 25,892 | ||||||||
| 1,361,970 | GlaxoSmithKline plc | 29,353 | ||||||||
| 2,487 | * | Halozyme Therapeutics, Inc | 109 | |||||||
| 18,165 | * | Illumina, Inc | 3,349 | |||||||
| 35,026 | * | Insmed, Inc | 691 | |||||||
| 24,626 | * | Intra-Cellular Therapies, Inc | 1,406 | |||||||
| 73,234 | * | IQVIA Holdings, Inc | 15,891 | |||||||
| 30,855 | * | Jazz Pharmaceuticals plc | 4,814 | |||||||
| 35,373 | *,e | Karyopharm Therapeutics, Inc | 160 | |||||||
| 29,602 | Lonza Group AG. | 15,812 | ||||||||
| 34,997 | * | MacroGenics, Inc | 103 | |||||||
| 337,716 | Merck & Co, Inc | 30,790 | ||||||||
| 64,945 | Merck KGaA | 11,016 | ||||||||
| 6,646 | * | Mettler-Toledo International, Inc | 7,635 | |||||||
| 3,119 | * | Mirati Therapeutics, Inc | 209 | |||||||
| 391,846 | Novo Nordisk AS | 43,457 | ||||||||
| 263,600 | Ono Pharmaceutical Co Ltd | 6,772 | ||||||||
| 65,953 | Orion Oyj (Class B) | 2,952 | ||||||||
| 45,551 | Perrigo Co plc | 1,848 | ||||||||
| 70,172 | * | Prothena Corp plc | 1,905 | |||||||
| 99,790 | *,e | Provention Bio, Inc | 399 | |||||||
| 411 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 11,541 | * | Regeneron Pharmaceuticals, Inc | $ | 6,822 | ||||||
| 15,548 | * | Repligen Corp | 2,525 | |||||||
| 80,012 | * | Revance Therapeutics, Inc | 1,106 | |||||||
| 158,951 | Roche Holding AG. | 53,137 | ||||||||
| 116,300 | Shionogi & Co Ltd | 5,936 | ||||||||
| 132,804 | Thermo Fisher Scientific, Inc | 72,150 | ||||||||
| 103,681 | UCB S.A. | 8,786 | ||||||||
| 5,150 | * | Ultragenyx Pharmaceutical, Inc | 307 | |||||||
| 158,052 | * | Vertex Pharmaceuticals, Inc | 44,537 | |||||||
| 17,175 | Vifor Pharma AG. | 2,977 | ||||||||
| 20,594 | * | Waters Corp | 6,816 | |||||||
| 42,292 | West Pharmaceutical Services, Inc | 12,788 | ||||||||
| 259,853 | Zoetis, Inc | 44,666 | ||||||||
| 15,799 | *,†,e | Zogenix, Inc | 11 | |||||||
| TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES | 890,306 | |||||||||
| REAL ESTATE - 1.7% | ||||||||||
| 217,135 | American Tower Corp | 55,498 | ||||||||
| 80,797 | Boston Properties, Inc | 7,189 | ||||||||
| 545,111 | British Land Co plc | 2,982 | ||||||||
| 55,992 | Brixmor Property Group, Inc | 1,132 | ||||||||
| 2,080,173 | Capitaland Investment Ltd | 5,725 | ||||||||
| 416,653 | CapitaMall Trust | 651 | ||||||||
| 32,768 | CatchMark Timber Trust, Inc | 330 | ||||||||
| 95,216 | CBRE Group, Inc | 7,009 | ||||||||
| 177,700 | City Developments Ltd | 1,044 | ||||||||
| 50,850 | City Office REIT, Inc | 659 | ||||||||
| 52,344 | Crown Castle International Corp | 8,814 | ||||||||
| 301,100 | Daiwa House Industry Co Ltd | 7,042 | ||||||||
| 321,986 | * | DiamondRock Hospitality Co | 2,644 | |||||||
| 784 | Digital Realty Trust, Inc | 102 | ||||||||
| 6,866 | Douglas Emmett, Inc | 154 | ||||||||
| 41,041 | Equinix, Inc | 26,965 | ||||||||
| 35,008 | First Industrial Realty Trust, Inc | 1,662 | ||||||||
| 5,328 | FirstService Corp | 646 | ||||||||
| 51,892 | Fonciere Des Regions | 2,899 | ||||||||
| 133,069 | Franklin Street Properties Corp | 555 | ||||||||
| 665 | Gecina S.A. | 62 | ||||||||
| 565,550 | Goodman Group | 6,983 | ||||||||
| 683,337 | GPT Group | 1,997 | ||||||||
| 224,945 | Healthpeak Properties Inc | 5,828 | ||||||||
| 1,608 | * | Howard Hughes Corp | 109 | |||||||
| 274,300 | Hulic Co Ltd | 2,128 | ||||||||
| 945 | Iron Mountain, Inc | 46 | ||||||||
| 30,104 | iStar Inc | 413 | ||||||||
| 6,486 | * | Jones Lang LaSalle, Inc | 1,134 | |||||||
| 4,380 | Kilroy Realty Corp | 229 | ||||||||
| 104,398 | Klepierre | 2,020 | ||||||||
| 1,939 | Land Securities Group plc | 16 | ||||||||
| 14,484 | LEG Immobilien AG. | 1,205 | ||||||||
| 505,854 | Lend Lease Corp Ltd | 3,186 | ||||||||
| 1,231,900 | Link REIT | 10,066 | ||||||||
| 253,105 | Macerich Co | 2,205 | ||||||||
| 1,039,835 | Mirvac Group | 1,421 | ||||||||
| 412 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 559,000 | Mitsubishi Estate Co Ltd | $ | 8,102 | |||||||
| 357,710 | Mitsui Fudosan Co Ltd | 7,685 | ||||||||
| 97,100 | Nomura Real Estate Holdings, Inc | 2,376 | ||||||||
| 454,804 | Park Hotels & Resorts, Inc | 6,172 | ||||||||
| 360,820 | Prologis, Inc | 42,450 | ||||||||
| 66,712 | * | Realogy Holdings Corp | 656 | |||||||
| 418 | RioCan Real Estate Investment Trust | 6 | ||||||||
| 2,740 | RMR Group, Inc | 78 | ||||||||
| 672,078 | Segro plc | 8,023 | ||||||||
| 888,670 | Stockland Trust Group | 2,219 | ||||||||
| 562,500 | Swire Pacific Ltd (Class A) | 3,359 | ||||||||
| 1,291,200 | Swire Properties Ltd | 3,215 | ||||||||
| 104,837 | *,e | Unibail-Rodamco-Westfield | 5,330 | |||||||
| 1,300 | UOL Group Ltd | 7 | ||||||||
| 70,270 | Ventas, Inc | 3,614 | ||||||||
| 182,973 | Vicinity Centres | 232 | ||||||||
| 198,070 | Welltower, Inc | 16,311 | ||||||||
| 265,562 | Weyerhaeuser Co | 8,795 | ||||||||
| 63,158 | * | Xenia Hotels & Resorts, Inc | 918 | |||||||
| TOTAL REAL ESTATE | 292,298 | |||||||||
| RETAILING - 1.9% | ||||||||||
| 45,506 | * | 1-800-FLOWERS.COM, Inc (Class A) | 433 | |||||||
| 17,736 | Advance Auto Parts, Inc | 3,070 | ||||||||
| 621 | Best Buy Co, Inc | 40 | ||||||||
| 184 | * | Burlington Stores, Inc | 25 | |||||||
| 158 | Canadian Tire Corp Ltd | 20 | ||||||||
| 2,874 | * | CarMax, Inc | 260 | |||||||
| 80,482 | *,g | Delivery Hero AG. | 3,036 | |||||||
| 69 | Dieteren S.A. | 10 | ||||||||
| 780 | Dollarama, Inc | 45 | ||||||||
| 856,103 | eBay, Inc | 35,674 | ||||||||
| 13,700 | Fast Retailing Co Ltd | 7,196 | ||||||||
| 7,052 | * | Five Below, Inc | 800 | |||||||
| 25,942 | * | Genesco, Inc | 1,295 | |||||||
| 679 | Genuine Parts Co | 90 | ||||||||
| 289,675 | e | Hennes & Mauritz AB (B Shares) | 3,477 | |||||||
| 26,127 | Hibbett Sports, Inc | 1,142 | ||||||||
| 308,312 | Home Depot, Inc | 84,561 | ||||||||
| 440,328 | Industria De Diseno Textil S.A. | 10,007 | ||||||||
| 24,243 | Kering | 12,563 | ||||||||
| 250,761 | Kingfisher plc | 749 | ||||||||
| 27,150 | * | Lands’ End, Inc | 288 | |||||||
| 15,715 | * | Liquidity Services, Inc | 211 | |||||||
| 88,177 | LKQ Corp | 4,329 | ||||||||
| 274,113 | Lowe’s Companies, Inc | 47,879 | ||||||||
| 467,762 | Macy’s, Inc | 8,569 | ||||||||
| 38,743 | * | MarineMax, Inc | 1,399 | |||||||
| 370 | * | MercadoLibre, Inc | 236 | |||||||
| 21,905 | Next plc | 1,565 | ||||||||
| 569 | Pool Corp | 200 | ||||||||
| 292,661 | Prosus NV | 18,951 | ||||||||
| 157,019 | * | Quotient Technology, Inc | 466 | |||||||
| 144,672 | *,e | RealReal, Inc | 360 | |||||||
| 413 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 49,547 | Ross Stores, Inc | $ | 3,480 | |||||||
| 1,746 | * | Sally Beauty Holdings, Inc | 21 | |||||||
| 34,896 | Shoe Carnival, Inc | 754 | ||||||||
| 247,595 | Target Corp | 34,968 | ||||||||
| 525,600 | TJX Companies, Inc | 29,355 | ||||||||
| 18,462 | Tractor Supply Co | 3,579 | ||||||||
| 11,452 | * | TravelCenters of America, Inc | 395 | |||||||
| 62,274 | Wesfarmers Ltd | 1,801 | ||||||||
| 874 | Winmark Corp | 171 | ||||||||
| 44,752 | *,g | Zalando SE | 1,179 | |||||||
| 20,869 | * | Zumiez, Inc | 543 | |||||||
| TOTAL RETAILING | 325,192 | |||||||||
| SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.5% | ||||||||||
| 499,334 | Applied Materials, Inc | 45,429 | ||||||||
| 93,165 | ASML Holding NV | 44,015 | ||||||||
| 23,227 | * | Cirrus Logic, Inc | 1,685 | |||||||
| 81,941 | * | First Solar, Inc | 5,583 | |||||||
| 1,607,963 | Intel Corp | 60,154 | ||||||||
| 89,876 | Lam Research Corp | 38,301 | ||||||||
| 639,917 | NVIDIA Corp | 97,005 | ||||||||
| 730 | NXP Semiconductors NV | 108 | ||||||||
| 708,021 | * | ON Semiconductor Corp | 35,621 | |||||||
| 19,466 | * | Silicon Laboratories, Inc | 2,729 | |||||||
| 378,762 | Texas Instruments, Inc | 58,197 | ||||||||
| 47,100 | Tokyo Electron Ltd | 15,373 | ||||||||
| 14,129 | Universal Display Corp | 1,429 | ||||||||
| 130,361 | * | Wolfspeed Inc | 8,271 | |||||||
| TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT | 413,900 | |||||||||
| SOFTWARE & SERVICES - 7.6% | ||||||||||
| 232,235 | Accenture plc | 64,480 | ||||||||
| 161,364 | * | Adobe, Inc | 59,069 | |||||||
| 9,776 | * | Ansys, Inc | 2,339 | |||||||
| 484 | * | Aspen Technology, Inc | 89 | |||||||
| 187,314 | * | Autodesk, Inc | 32,210 | |||||||
| 231,430 | Automatic Data Processing, Inc | 48,610 | ||||||||
| 157,497 | * | Avaya Holdings Corp | 353 | |||||||
| 59,147 | * | Benefitfocus, Inc | 460 | |||||||
| 428 | * | Black Knight, Inc | 28 | |||||||
| 96,565 | * | Blackline, Inc | 6,431 | |||||||
| 152,734 | * | Cadence Design Systems, Inc | 22,915 | |||||||
| 79,724 | Cap Gemini S.A. | 13,749 | ||||||||
| 54,183 | * | ChannelAdvisor Corp | 790 | |||||||
| 342 | Citrix Systems, Inc | 33 | ||||||||
| 73,408 | Computershare Ltd | 1,252 | ||||||||
| 29,501 | Concentrix Corp | 4,001 | ||||||||
| 61,545 | CSG Systems International, Inc | 3,673 | ||||||||
| 125,079 | Dolby Laboratories, Inc (Class A) | 8,951 | ||||||||
| 467,864 | * | DXC Technology Co | 14,181 | |||||||
| 43,160 | * | Elastic NV | 2,921 | |||||||
| 63,572 | * | ExlService Holdings, Inc | 9,366 | |||||||
| 332,725 | Fidelity National Information Services, Inc | 30,501 | ||||||||
| 118,010 | * | Five9, Inc | 10,755 | |||||||
| 414 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 96,100 | Fujitsu Ltd | $ | 12,025 | |||||||
| 218 | * | Guidewire Software, Inc | 15 | |||||||
| 35,265 | * | HubSpot, Inc | 10,602 | |||||||
| 399,473 | International Business Machines Corp | 56,402 | ||||||||
| 114,924 | Intuit, Inc | 44,296 | ||||||||
| 10,439 | * | Lightspeed Commerce, Inc | 233 | |||||||
| 260,546 | Mastercard, Inc (Class A) | 82,197 | ||||||||
| 1,480,067 | Microsoft Corp | 380,126 | ||||||||
| 265,881 | NEC Corp | 10,374 | ||||||||
| 94,110 | * | New Relic, Inc | 4,710 | |||||||
| 211,300 | Nomura Research Institute Ltd | 5,671 | ||||||||
| 1,601 | NortonLifelock, Inc | 35 | ||||||||
| 128,391 | * | Nutanix, Inc | 1,878 | |||||||
| 221,417 | * | Okta, Inc | 20,016 | |||||||
| 6,151 | * | OneSpan, Inc | 73 | |||||||
| 105,427 | Open Text Corp (Toronto) | 3,988 | ||||||||
| 38,600 | Otsuka Corp | 1,149 | ||||||||
| 30,261 | * | Paylocity Holding Corp | 5,278 | |||||||
| 660,849 | * | PayPal Holdings, Inc | 46,154 | |||||||
| 62,739 | * | Perficient, Inc | 5,753 | |||||||
| 29,937 | * | Rapid7, Inc | 2,000 | |||||||
| 41,929 | Roper Technologies, Inc | 16,547 | ||||||||
| 339,609 | * | salesforce.com, Inc | 56,049 | |||||||
| 285,472 | SAP AG. | 26,021 | ||||||||
| 102,383 | * | ServiceNow, Inc | 48,685 | |||||||
| 409,970 | * | Shopify, Inc (Class A) | 12,810 | |||||||
| 37,192 | * | Smartsheet, Inc | 1,169 | |||||||
| 451 | * | Splunk, Inc | 40 | |||||||
| 68,293 | * | SPS Commerce, Inc | 7,721 | |||||||
| 73,600 | Sumisho Computer Systems Corp | 1,250 | ||||||||
| 119,055 | * | SVMK, Inc | 1,048 | |||||||
| 17,623 | * | Synopsys, Inc | 5,352 | |||||||
| 60,958 | * | Teradata Corp | 2,256 | |||||||
| 31,388 | TTEC Holdings, Inc | 2,131 | ||||||||
| 314,487 | VMware, Inc (Class A) | 35,845 | ||||||||
| 1,119 | Western Union Co | 18 | ||||||||
| 87,164 | * | WEX, Inc | 13,559 | |||||||
| 160,866 | Wisetech Global Ltd | 4,218 | ||||||||
| 181,757 | * | Workday, Inc | 25,370 | |||||||
| 9,773 | * | Workiva, Inc | 645 | |||||||
| 122,223 | * | Xero Ltd | 6,519 | |||||||
| 336 | * | Zendesk, Inc | 25 | |||||||
| TOTAL SOFTWARE & SERVICES | 1,297,410 | |||||||||
| TECHNOLOGY HARDWARE & EQUIPMENT - 2.0% | ||||||||||
| 81,708 | Avnet, Inc | 3,504 | ||||||||
| 3,200 | Azbil Corp | 84 | ||||||||
| 64,337 | Benchmark Electronics, Inc | 1,451 | ||||||||
| 146,191 | * | Ciena Corp | 6,681 | |||||||
| 1,430,548 | Cisco Systems, Inc | 60,999 | ||||||||
| 318,774 | Cognex Corp | 13,554 | ||||||||
| 19,104 | * | Coherent, Inc | 5,086 | |||||||
| 48,700 | CTS Corp | 1,658 | ||||||||
| 22,073 | * | ePlus, Inc | 1,173 | |||||||
| 415 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 55,107 | * | Fabrinet | $ | 4,469 | ||||||
| 15,331 | * | FARO Technologies, Inc | 473 | |||||||
| 85,100 | Fujifilm Holdings Corp | 4,573 | ||||||||
| 1,901,240 | Hewlett Packard Enterprise Co | 25,210 | ||||||||
| 1,156,248 | HP, Inc | 37,902 | ||||||||
| 29,100 | Ibiden Co Ltd | 824 | ||||||||
| 41,421 | * | Insight Enterprises, Inc | 3,574 | |||||||
| 4,037 | * | Itron, Inc | 200 | |||||||
| 50,374 | Keyence Corp | 17,275 | ||||||||
| 179,031 | * | Keysight Technologies, Inc | 24,679 | |||||||
| 39,615 | * | Kimball Electronics, Inc | 796 | |||||||
| 170,914 | * | Knowles Corp | 2,962 | |||||||
| 15,513 | * | Lumentum Holdings, Inc | 1,232 | |||||||
| 8,736 | Methode Electronics, Inc | 324 | ||||||||
| 302,569 | * | Microvision, Inc | 1,162 | |||||||
| 4,828 | Motorola Solutions, Inc | 1,012 | ||||||||
| 236,500 | Murata Manufacturing Co Ltd | 12,872 | ||||||||
| 56,510 | National Instruments Corp | 1,765 | ||||||||
| 1,425,752 | Nokia Oyj | 6,608 | ||||||||
| 3,862 | * | Novanta, Inc | 468 | |||||||
| 58,300 | Omron Corp | 2,967 | ||||||||
| 732 | * | OSI Systems, Inc | 63 | |||||||
| 44,932 | *,e | PAR Technology Corp | 1,684 | |||||||
| 64,222 | * | Ribbon Communications, Inc | 195 | |||||||
| 36,523 | * | Rogers Corp | 9,572 | |||||||
| 5,900 | Shimadzu Corp | 187 | ||||||||
| 79,098 | SYNNEX Corp | 7,206 | ||||||||
| 151,500 | TDK Corp | 4,684 | ||||||||
| 497,021 | * | Trimble Inc | 28,942 | |||||||
| 191,199 | * | TTM Technologies, Inc | 2,390 | |||||||
| 18,093 | * | Vishay Precision Group, Inc | 527 | |||||||
| 306,596 | Vontier Corp | 7,049 | ||||||||
| 231,370 | Xerox Holdings Corp | 3,436 | ||||||||
| 101,783 | * | Zebra Technologies Corp (Class A) | 29,919 | |||||||
| TOTAL TECHNOLOGY HARDWARE & EQUIPMENT | 341,391 | |||||||||
| TELECOMMUNICATION SERVICES - 1.3% | ||||||||||
| 4,985,806 | BT Group plc | 11,332 | ||||||||
| 10,000 | HKT Trust and HKT Ltd | 14 | ||||||||
| 186,749 | * | Iridium Communications, Inc | 7,014 | |||||||
| 562,532 | KDDI Corp | 17,739 | ||||||||
| 108,559 | Koninklijke KPN NV | 386 | ||||||||
| 2,960 | * | Liberty Global plc (Class A) | 62 | |||||||
| 7,192 | * | Liberty Global plc (Class C) | 159 | |||||||
| 2,586 | Lumen Technologies, Inc | 28 | ||||||||
| 1,088,476 | Orange S. A. | 12,826 | ||||||||
| 185,118 | Rogers Communications, Inc (Class B) | 8,871 | ||||||||
| 3,175,800 | Singapore Telecommunications Ltd | 5,780 | ||||||||
| 1,298,600 | Softbank Corp | 14,418 | ||||||||
| 6,454 | Swisscom AG. | 3,570 | ||||||||
| 8,252 | Tele2 AB (B Shares) | 94 | ||||||||
| 394,386 | Telefonica Deutschland Holding AG. | 1,137 | ||||||||
| 210,023 | Telenor ASA | 2,807 | ||||||||
| 322,622 | TeliaSonera AB | 1,238 | ||||||||
| 416 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 14,204 | TELUS Corp | $ | 316 | |||||||
| 356,628 | * | T-Mobile US, Inc | 47,981 | |||||||
| 1,407,174 | Verizon Communications, Inc | 71,414 | ||||||||
| 10,674,903 | Vodafone Group plc | 16,598 | ||||||||
| TOTAL TELECOMMUNICATION SERVICES | 223,784 | |||||||||
| TRANSPORTATION - 1.7% | ||||||||||
| 115,400 | * | All Nippon Airways Co Ltd | 2,132 | |||||||
| 27 | Amerco, Inc | 13 | ||||||||
| 47,788 | ArcBest Corp | 3,363 | ||||||||
| 147,420 | * | Auckland International Airport Ltd | 660 | |||||||
| 620,413 | Aurizon Holdings Ltd | 1,632 | ||||||||
| 29,227 | * | Avis Budget Group, Inc | 4,299 | |||||||
| 192,405 | Canadian National Railway Co | 21,642 | ||||||||
| 60,733 | CH Robinson Worldwide, Inc | 6,156 | ||||||||
| 1,427,151 | CSX Corp | 41,473 | ||||||||
| 954,204 | * | Delta Air Lines, Inc | 27,643 | |||||||
| 146,700 | East Japan Railway Co | 7,503 | ||||||||
| 112,630 | Expeditors International of Washington, Inc | 10,977 | ||||||||
| 96,500 | Hankyu Hanshin Holdings, Inc | 2,636 | ||||||||
| 100 | Keio Corp | 4 | ||||||||
| 200 | Kintetsu Corp | 6 | ||||||||
| 44,193 | Kuehne & Nagel International AG. | 10,500 | ||||||||
| 459 | Landstar System, Inc | 67 | ||||||||
| 1,749,864 | MTR Corp | 9,174 | ||||||||
| 82,500 | Nippon Express Holdings, Inc | 4,494 | ||||||||
| 109,078 | Nippon Yusen Kabushiki Kaisha | 7,479 | ||||||||
| 128,047 | Norfolk Southern Corp | 29,104 | ||||||||
| 57,232 | Old Dominion Freight Line | 14,667 | ||||||||
| 121,800 | SG Holdings Co Ltd | 2,060 | ||||||||
| 676,449 | *,e | Singapore Airlines Ltd | 2,486 | |||||||
| 1,477,987 | Transurban Group | 14,705 | ||||||||
| 319,502 | United Parcel Service, Inc (Class B) | 58,322 | ||||||||
| 19,000 | West Japan Railway Co | 699 | ||||||||
| TOTAL TRANSPORTATION | 283,896 | |||||||||
| UTILITIES - 2.0% | ||||||||||
| 478,619 | e | Algonquin Power & Utilities Corp | 6,433 | |||||||
| 689 | Alliant Energy Corp | 40 | ||||||||
| 312,327 | American Electric Power Co, Inc | 29,965 | ||||||||
| 500,415 | APA Group | 3,897 | ||||||||
| 1,233,500 | CLP Holdings Ltd | 10,251 | ||||||||
| 11,970 | CMS Energy Corp | 808 | ||||||||
| 210,386 | Consolidated Edison, Inc | 20,008 | ||||||||
| 21,990 | DTE Energy Co | 2,787 | ||||||||
| 2,927,601 | Enel S.p.A. | 16,056 | ||||||||
| 911,108 | Energias de Portugal S.A. | 4,246 | ||||||||
| 150,481 | Eversource Energy | 12,711 | ||||||||
| 118,617 | Fortis, Inc | 5,607 | ||||||||
| 1,923,795 | Iberdrola S.A. | 20,029 | ||||||||
| 1,905 | Mercury NZ Ltd | 7 | ||||||||
| 247,549 | Meridian Energy Ltd | 722 | ||||||||
| 285,175 | National Grid plc | 3,665 | ||||||||
| 202,403 | e | Naturgy Energy Group S.A. | 5,849 | |||||||
| 417 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| SHARES | COMPANY | VALUE (000) |
||||||||
| 782,837 | NextEra Energy, Inc | $ | 60,639 | |||||||
| 4,849 | Origin Energy Ltd | 19 | ||||||||
| 71,195 | g | Orsted AS | 7,498 | |||||||
| 145,500 | Osaka Gas Co Ltd | 2,789 | ||||||||
| 231,057 | Public Service Enterprise Group, Inc | 14,621 | ||||||||
| 589,945 | Scottish & Southern Energy plc | 11,643 | ||||||||
| 183,578 | Sempra Energy | 27,586 | ||||||||
| 7,999 | South Jersey Industries, Inc | 273 | ||||||||
| 566,412 | Southern Co | 40,391 | ||||||||
| 181,100 | Tokyo Gas Co Ltd | 3,753 | ||||||||
| 34,209 | UGI Corp | 1,321 | ||||||||
| 125,834 | WEC Energy Group, Inc | 12,664 | ||||||||
| 203,130 | Xcel Energy, Inc | 14,373 | ||||||||
| TOTAL UTILITIES | 340,651 | |||||||||
| TOTAL COMMON STOCKS | 9,643,999 | |||||||||
| (Cost $8,712,721) | ||||||||||
| PREFERRED STOCKS - 0.3% | ||||||||||
| BANKS - 0.1% | ||||||||||
| 233,115 | *,e | Federal Home Loan Mortgage Corp | 772 | |||||||
| 740,991 | *,e | Federal National Mortgage Association | 2,579 | |||||||
| 490,000 | e | First Republic Bank | 8,702 | |||||||
| TOTAL BANKS | 12,053 | |||||||||
| INSURANCE - 0.0% | ||||||||||
| 180,000 | e | Assurant, Inc | 4,005 | |||||||
| TOTAL INSURANCE | 4,005 | |||||||||
| REAL ESTATE - 0.1% | ||||||||||
| 390,000 | e | Brookfield Property Partners LP | 7,687 | |||||||
| 695,000 | Brookfield Property Partners LP | 11,871 | ||||||||
| TOTAL REAL ESTATE | 19,558 | |||||||||
| UTILITIES - 0.1% | ||||||||||
| 490,000 | Brookfield Infrastructure Partners LP | 9,160 | ||||||||
| 308,000 | e | Brookfield Renewable Partners LP | 6,408 | |||||||
| TOTAL UTILITIES | 15,568 | |||||||||
| TOTAL PREFERRED STOCKS | 51,184 | |||||||||
| (Cost $88,178) | ||||||||||
| 418 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE |
VALUE (000) |
||||||||||||
| SHORT-TERM INVESTMENTS - 3.0% | ||||||||||||||||
| GOVERNMENT AGENCY DEBT - 1.6% | ||||||||||||||||
| $ | 10,000,000 | Federal Farm Credit Bank (FFCB) | 0.000 | % | 07/06/22 | $ | 9,998 | |||||||||
| 13,000,000 | FFCB | 0.000 | 07/22/22 | 12,989 | ||||||||||||
| 19,231,000 | FFCB | 0.000 | 09/01/22 | 19,168 | ||||||||||||
| 15,000,000 | FFCB | 0.000 | 09/13/22 | 14,941 | ||||||||||||
| 12,500,000 | Federal Home Loan Bank (FHLB) | 0.000 | 07/01/22 | 12,500 | ||||||||||||
| 30,000,000 | FHLB | 0.000 | 07/07/22 | 29,993 | ||||||||||||
| 20,000,000 | FHLB | 0.000 | 07/11/22 | 19,992 | ||||||||||||
| 50,000,000 | FHLB | 0.000 | 07/15/22 | 49,973 | ||||||||||||
| 20,000,000 | FHLB | 0.000 | 07/18/22 | 19,987 | ||||||||||||
| 10,300,000 | FHLB | 0.000 | 07/19/22 | 10,293 | ||||||||||||
| 10,200,000 | FHLB | 0.000 | 07/22/22 | 10,192 | ||||||||||||
| 20,000,000 | FHLB | 0.000 | 08/04/22 | 19,968 | ||||||||||||
| 8,000,000 | FHLB | 0.000 | 08/05/22 | 7,987 | ||||||||||||
| 10,000,000 | FHLB | 0.000 | 08/19/22 | 9,977 | ||||||||||||
| 13,000,000 | FHLB | 0.000 | 08/24/22 | 12,966 | ||||||||||||
| 5,000,000 | FHLB | 0.000 | 12/21/22 | 4,937 | ||||||||||||
| 10,000,000 | FHLB | 0.000 | 02/27/23 | 9,822 | ||||||||||||
| TOTAL GOVERNMENT AGENCY DEBT | 275,683 | |||||||||||||||
| REPURCHASE AGREEMENT - 0.6% | ||||||||||||||||
| 99,760,000 | r | Fixed Income Clearing Corp (FICC) | 1.450 | 07/01/22 | 99,760 | |||||||||||
| TOTAL REPURCHASE AGREEMENT | 99,760 | |||||||||||||||
| TREASURY DEBT - 0.1% | ||||||||||||||||
| 10,005,000 | United States Cash Management Bill | 0.000 | 07/05/22 | 10,004 | ||||||||||||
| 10,000,000 | United States Treasury Bill | 0.000 | 10/06/22 | 9,953 | ||||||||||||
| TOTAL TREASURY DEBT | 19,957 | |||||||||||||||
| SHARES | COMPANY | |||||||||||||||
| INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.7% | ||||||||||||||||
| 107,576,260 | c | State Street Navigator Securities Lending Government Money Market Portfolio | 1.540 | 107,576 | ||||||||||||
| TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES | 107,576 | |||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS | 502,976 | |||||||||||||||
| (Cost $503,221) | ||||||||||||||||
| TOTAL INVESTMENTS - 101.7% | 17,302,126 | |||||||||||||||
| (Cost $17,084,289) | ||||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - (1.7)% | (278,778 | ) | ||||||||||||||
| NET ASSETS - 100.0% | $ | 17,023,348 | ||||||||||||||
| CLP | Chilean Peso | ||
| CCRC | California Community Reinvestment Corporation | ||
| EUR | Euro | ||
| 419 |
COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account
| LIBOR | London Interbank Offered Rate | ||
| M | Month | ||
| REIT | Real Estate Investment Trust | ||
| SOFR | Secure Overnight Financing Rate | ||
| ^ | Amount represents less than $1,000. | ||
| * | Non-income producing | ||
| † | Security is categorized as Level 3 in the fair value hierarchy. | ||
| ‡ | Perpetual security | ||
| 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 $135,982,335. | ||
| g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/22, the aggregate value of these securities is $1,912,744,322 or 11.2% 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. | ||
| q | In default | ||
| r | Agreement with Fixed Income Clearing Corp (FICC), 1.450% dated 6/30/22 to be repurchased at $99,760,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rates 0.125%–0.250% and maturity dates 9/30/25–10/15/25, valued at $101,755,209. | ||
| Cost amounts are in thousands. | |||
| 420 |
COLLEGE RETIREMENT EQUITIES FUND - Money Market Account
COLLEGE RETIREMENT EQUITIES FUND
MONEY MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2022
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| SHORT-TERM INVESTMENTS - 100.0% | ||||||||||||||||
| GOVERNMENT AGENCY DEBT - 49.2% | ||||||||||||||||
| $ | 42,500,000 | Federal Agricultural Mortgage Corp (FAMC) | 0.000 | % | 08/26/22 | $ | 42,427 | |||||||||
| 3,000,000 | Federal Farm Credit Bank (FFCB) | 1.600 | 07/15/22 | 3,001 | ||||||||||||
| 105,000,000 | FFCB | 0.000 | 07/21/22 | 104,927 | ||||||||||||
| 183,775,000 | FFCB | 0.000 | 07/22/22 | 183,673 | ||||||||||||
| 50,000,000 | FFCB | 0.000 | 09/20/22 | 49,793 | ||||||||||||
| 85,000 | FFCB | 0.000 | 10/25/22 | 85 | ||||||||||||
| 85,200,000 | FFCB | 0.000 | 11/08/22 | 84,739 | ||||||||||||
| 5,100,000 | FFCB | 0.125 | 11/23/22 | 5,069 | ||||||||||||
| 43,400,000 | FFCB | 1.550 | 11/25/22 | 43,381 | ||||||||||||
| 30,000,000 | FFCB | 0.000 | 11/29/22 | 29,802 | ||||||||||||
| 4,200,000 | FFCB | 2.875 | 12/21/22 | 4,221 | ||||||||||||
| 131,700,000 | Federal Home Loan Bank (FHLB) | 0.000 | 07/01/22 | 131,700 | ||||||||||||
| 227,243,000 | FHLB | 0.000 | 07/06/22 | 227,217 | ||||||||||||
| 1,350,000 | FHLB | 0.000 | 07/07/22 | 1,350 | ||||||||||||
| 92,000,000 | FHLB | 0.000 | 07/08/22 | 91,985 | ||||||||||||
| 51,400,000 | FHLB | 0.000 | 07/11/22 | 51,379 | ||||||||||||
| 51,000,000 | FHLB | 0.000 | 07/12/22 | 50,986 | ||||||||||||
| 54,200,000 | FHLB | 0.000 | 07/13/22 | 54,186 | ||||||||||||
| 2,125,000 | FHLB | 0.000 | 07/14/22 | 2,124 | ||||||||||||
| 42,000,000 | FHLB | 0.000 | 07/15/22 | 41,986 | ||||||||||||
| 86,000,000 | FHLB | 0.000 | 07/19/22 | 85,949 | ||||||||||||
| 135,950,000 | FHLB | 0.000 | 07/22/22 | 135,882 | ||||||||||||
| 106,800,000 | FHLB | 0.000 | 07/25/22 | 106,735 | ||||||||||||
| 51,215,000 | FHLB | 0.000 | 07/27/22 | 51,179 | ||||||||||||
| 122,113,000 | FHLB | 0.000 | 07/28/22 | 122,034 | ||||||||||||
| 164,075,000 | FHLB | 0.000 | 07/29/22 | 163,947 | ||||||||||||
| 764,000 | FHLB | 0.000 | 08/01/22 | 763 | ||||||||||||
| 42,500,000 | FHLB | 0.000 | 08/05/22 | 42,460 | ||||||||||||
| 42,000,000 | FHLB | 0.000 | 08/09/22 | 41,931 | ||||||||||||
| 430,000 | FHLB | 0.000 | 08/10/22 | 429 | ||||||||||||
| 3,063,000 | FHLB | 0.000 | 08/12/22 | 3,059 | ||||||||||||
| 124,292,000 | FHLB | 0.000 | 08/15/22 | 124,103 | ||||||||||||
| 42,000,000 | FHLB | 0.000 | 08/16/22 | 41,911 | ||||||||||||
| 173,800,000 | FHLB | 0.000 | 08/17/22 | 173,521 | ||||||||||||
| 85,600,000 | FHLB | 0.000 | 08/19/22 | 85,413 | ||||||||||||
| 64,000,000 | FHLB | 0.000 | 08/24/22 | 63,881 | ||||||||||||
| 42,000,000 | FHLB | 0.000 | 08/31/22 | 41,915 | ||||||||||||
| 172,925,000 | FHLB | 0.000 | 09/07/22 | 172,497 | ||||||||||||
| 9,895,000 | FHLB | 2.000 | 09/09/22 | 9,910 | ||||||||||||
| 15,500,000 | FHLB | 2.250 | 09/09/22 | 15,526 | ||||||||||||
| 91,272,000 | FHLB | 0.000 | 09/14/22 | 91,018 | ||||||||||||
| 42,000,000 | FHLB | 0.000 | 09/16/22 | 41,829 | ||||||||||||
| 15,000,000 | FHLB | 0.000 | 09/21/22 | 14,957 | ||||||||||||
| 84,000,000 | FHLB | 0.000 | 09/22/22 | 83,733 | ||||||||||||
| 50,000,000 | FHLB | 0.000 | 09/27/22 | 49,762 | ||||||||||||
| 95,500,000 | FHLB | 0.000 | 09/28/22 | 95,058 | ||||||||||||
| 421 |
COLLEGE RETIREMENT EQUITIES FUND - Money Market Account
| PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE (000) | ||||||||||||
| $ | 22,250,000 | FHLB | 0.000 | % | 09/30/22 | $ | 22,190 | |||||||||
| 42,000,000 | FHLB | 0.000 | 10/11/22 | 41,762 | ||||||||||||
| 141,559,000 | FHLB | 0.000 | 10/19/22 | 141,010 | ||||||||||||
| 165,550,000 | FHLB | 0.000 | 10/21/22 | 164,843 | ||||||||||||
| 485,000 | FHLB | 0.125 | 10/21/22 | 483 | ||||||||||||
| 50,000,000 | FHLB | 0.000 | 10/26/22 | 49,773 | ||||||||||||
| 42,250,000 | FHLB | 0.000 | 11/01/22 | 42,035 | ||||||||||||
| 51,000,000 | FHLB | 0.000 | 11/03/22 | 50,736 | ||||||||||||
| 84,000,000 | FHLB | 0.000 | 11/08/22 | 83,566 | ||||||||||||
| 85,000,000 | FHLB | 1.470 | 11/10/22 | 84,992 | ||||||||||||
| 42,500,000 | FHLB | 0.000 | 11/17/22 | 42,247 | ||||||||||||
| 51,000,000 | FHLB | 0.000 | 11/18/22 | 50,712 | ||||||||||||
| 1,600,000 | FHLB | 0.125 | 11/29/22 | 1,590 | ||||||||||||
| 25,000,000 | FHLB | 0.000 | 12/02/22 | 24,834 | ||||||||||||
| 20,310,000 | FHLB | 1.875 | 12/09/22 | 20,317 | ||||||||||||
| 3,970,000 | FHLB | 2.500 | 12/09/22 | 3,985 | ||||||||||||
| 165,000 | FHLB | 2.750 | 12/09/22 | 166 | ||||||||||||
| 21,000,000 | FHLB | 0.000 | 12/19/22 | 20,845 | ||||||||||||
| 84,500,000 | FHLB | 0.000 | 12/20/22 | 83,858 | ||||||||||||
| 21,000,000 | FHLB | 0.000 | 12/21/22 | 20,751 | ||||||||||||
| 690,000 | FHLB | 0.000 | 12/23/22 | 685 | ||||||||||||
| 24,700,000 | Federal National Mortgage Association (FNMA) | 0.000 | 08/10/22 | 24,671 | ||||||||||||
| 21,000,000 | FNMA | 0.000 | 09/21/22 | 20,912 | ||||||||||||
| 8,000,000 | FNMA | 2.000 | 09/28/22 | 8,014 | ||||||||||||
| 53,302,000 | FNMA | 2.000 | 10/05/22 | 53,388 | ||||||||||||
| TOTAL GOVERNMENT AGENCY DEBT | 4,121,798 | |||||||||||||||
| REPURCHASE AGREEMENT - 4.7% | ||||||||||||||||
| 394,177,000 | r | Fixed Income Clearing Corp (FICC) | 1.450 | 07/01/22 | 394,177 | |||||||||||
| TOTAL REPURCHASE AGREEMENT | 394,177 | |||||||||||||||
| TREASURY DEBT - 12.3% | ||||||||||||||||
| 46,450,000 | United States Cash Management Bill | 0.000 | 08/23/22 | 46,377 | ||||||||||||
| 1,321,000 | United States Cash Management Bill | 0.000 | 09/06/22 | 1,318 | ||||||||||||
| 2,135,000 | United States Cash Management Bill | 0.000 | 09/20/22 | 2,129 | ||||||||||||
| 50,173,000 | United States Cash Management Bill | 0.000 | 09/27/22 | 50,018 | ||||||||||||
| 132,000,000 | United States Cash Management Bill | 0.000 | 10/04/22 | 131,513 | ||||||||||||
| 63,250,000 | United States Cash Management Bill | 0.000 | 10/11/22 | 62,979 | ||||||||||||
| 25,500,000 | United States Treasury Bill | 0.000 | 07/07/22 | 25,497 | ||||||||||||
| 50,650,000 | United States Treasury Bill | 0.000 | 07/12/22 | 50,634 | ||||||||||||
| 59,000,000 | United States Treasury Bill | 0.000 | 07/19/22 | 58,974 | ||||||||||||
| 42,250,000 | United States Treasury Bill | 0.000 | 07/21/22 | 42,230 | ||||||||||||
| 50,000,000 | United States Treasury Bill | 0.000 | 07/28/22 | 49,967 | ||||||||||||
| 21,000,000 | United States Treasury Bill | 0.000 | 08/18/22 | 20,970 | ||||||||||||
| 63,250,000 | United States Treasury Bill | 0.000 | 09/15/22 | 63,031 | ||||||||||||
| 25,350,000 | United States Treasury Bill | 0.000 | 09/29/22 | 25,284 | ||||||||||||
| 83,875,000 | United States Treasury Bill | 0.000 | 11/17/22 | 83,389 | ||||||||||||
| 43,713,000 | United States Treasury Bill | 0.000 | 11/25/22 | 43,440 | ||||||||||||
| 92,450,000 | United States Treasury Bill | 0.000 | 12/01/22 | 91,829 | ||||||||||||
| 105,500,000 | United States Treasury Bill | 0.000 | 12/08/22 | 104,693 | ||||||||||||
| 42,000,000 | United States Treasury Bill | 0.000 | 12/22/22 | 41,516 | ||||||||||||
| 33,600,000 | United States Treasury Note | 1.500 | 08/15/22 | 33,626 | ||||||||||||
| TOTAL TREASURY DEBT | 1,029,414 | |||||||||||||||
| 422 |
COLLEGE RETIREMENT EQUITIES FUND - Money Market Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| VARIABLE RATE SECURITIES - 33.8% | ||||||||||||||||||
| $ | 51,000,000 | i | Federal Agricultural Mortgage Corp (FAMC) | SOFR + 0.015% | 1.525 | % | 08/18/22 | $ | 51,000 | |||||||||
| 22,150,000 | i | FAMC | SOFR + 0.020% | 1.530 | 10/24/22 | 22,150 | ||||||||||||
| 63,750,000 | i | FAMC | SOFR + 0.050% | 1.560 | 03/03/23 | 63,750 | ||||||||||||
| 16,775,000 | i | FAMC | SOFR + 0.100% | 1.610 | 02/12/24 | 16,781 | ||||||||||||
| 127,700,000 | i | Federal Farm Credit Bank (FFCB) | SOFR + 0.005% | 1.515 | 07/12/22 | 127,700 | ||||||||||||
| 35,250,000 | i | FFCB | SOFR + 0.190% | 1.700 | 07/14/22 | 35,250 | ||||||||||||
| 22,498,000 | i | FFCB | SOFR + 0.145% | 1.655 | 07/28/22 | 22,498 | ||||||||||||
| 15,500,000 | i | FFCB | SOFR + 0.070% | 1.580 | 08/11/22 | 15,500 | ||||||||||||
| 19,750,000 | i | FFCB | SOFR + 0.050% | 1.560 | 08/12/22 | 19,751 | ||||||||||||
| 128,215,000 | i | FFCB | SOFR + 0.045% | 1.555 | 09/08/22 | 128,217 | ||||||||||||
| 63,750,000 | i | FFCB | SOFR + 0.005% | 1.515 | 10/05/22 | 63,750 | ||||||||||||
| 8,500,000 | i | FFCB | SOFR + 0.030% | 1.540 | 10/12/22 | 8,500 | ||||||||||||
| 28,200,000 | i | FFCB | SOFR + 0.060% | 1.570 | 10/21/22 | 28,201 | ||||||||||||
| 69,491,000 | i | FFCB | SOFR + 0.010% | 1.520 | 11/16/22 | 69,491 | ||||||||||||
| 51,000,000 | i | FFCB | SOFR + 0.008% | 1.518 | 11/22/22 | 51,000 | ||||||||||||
| 8,000,000 | i | FFCB | SOFR + 0.060% | 1.570 | 12/01/22 | 8,000 | ||||||||||||
| 50,000,000 | i | FFCB | SOFR + 0.025% | 1.535 | 12/06/22 | 50,000 | ||||||||||||
| 43,195,000 | i | FFCB | SOFR + 0.060% | 1.570 | 12/28/22 | 43,204 | ||||||||||||
| 41,200,000 | i | FFCB | SOFR + 0.015% | 1.525 | 01/09/23 | 41,198 | ||||||||||||
| 3,200,000 | i | FFCB | SOFR + 0.008% | 1.518 | 01/12/23 | 3,200 | ||||||||||||
| 14,155,000 | i | FFCB | SOFR + 0.060% | 1.570 | 01/13/23 | 14,157 | ||||||||||||
| 12,033,000 | i | FFCB | SOFR + 0.060% | 1.570 | 01/20/23 | 12,034 | ||||||||||||
| 8,415,000 | i | FFCB | SOFR + 0.055% | 1.565 | 02/09/23 | 8,416 | ||||||||||||
| 49,547,000 | i | FFCB | SOFR + 0.050% | 1.560 | 02/17/23 | 49,556 | ||||||||||||
| 41,500,000 | i | FFCB | SOFR + 0.015% | 1.525 | 03/07/23 | 41,499 | ||||||||||||
| 4,350,000 | i | FFCB | SOFR + 0.040% | 1.550 | 03/10/23 | 4,351 | ||||||||||||
| 42,500,000 | i | FFCB | SOFR + 0.015% | 1.525 | 05/02/23 | 42,498 | ||||||||||||
| 30,500,000 | i | FFCB | SOFR + 0.035% | 1.545 | 05/04/23 | 30,500 | ||||||||||||
| 30,500,000 | i | FFCB | SOFR + 0.035% | 1.545 | 05/12/23 | 30,500 | ||||||||||||
| 3,075,000 | i | FFCB | SOFR + 0.320% | 1.830 | 06/09/23 | 3,083 | ||||||||||||
| 21,250,000 | i | FFCB | SOFR + 0.035% | 1.545 | 07/12/23 | 21,249 | ||||||||||||
| 88,250,000 | i | FFCB | SOFR + 0.018% | 1.528 | 07/13/23 | 88,239 | ||||||||||||
| 63,100,000 | i | FFCB | SOFR + 0.040% | 1.550 | 08/17/23 | 63,100 | ||||||||||||
| 39,150,000 | i | FFCB | SOFR + 0.030% | 1.540 | 08/28/23 | 39,150 | ||||||||||||
| 25,450,000 | i | FFCB | SOFR + 0.050% | 1.560 | 09/15/23 | 25,450 | ||||||||||||
| 10,400,000 | i | FFCB | SOFR + 0.040% | 1.550 | 09/20/23 | 10,400 | ||||||||||||
| 12,850,000 | i | FFCB | SOFR + 0.025% | 1.535 | 09/27/23 | 12,850 | ||||||||||||
| 14,800,000 | i | FFCB | SOFR + 0.045% | 1.555 | 10/16/23 | 14,800 | ||||||||||||
| 13,700,000 | i | FFCB | SOFR + 0.025% | 1.535 | 10/27/23 | 13,700 | ||||||||||||
| 1,600,000 | i | FFCB | SOFR + 0.135% | 1.645 | 11/06/23 | 1,602 | ||||||||||||
| 4,250,000 | i | FFCB | SOFR + 0.025% | 1.535 | 11/30/23 | 4,248 | ||||||||||||
| 13,525,000 | i | FFCB | SOFR + 0.120% | 1.630 | 01/22/24 | 13,538 | ||||||||||||
| 41,950,000 | i | FFCB | SOFR + 0.040% | 1.550 | 02/09/24 | 41,947 | ||||||||||||
| 12,625,000 | i | FFCB | SOFR + 0.045% | 1.555 | 02/20/24 | 12,625 | ||||||||||||
| 4,200,000 | i | FFCB | SOFR + 0.040% | 1.550 | 03/04/24 | 4,200 | ||||||||||||
| 14,250,000 | i | FFCB | SOFR + 0.050% | 1.560 | 04/12/24 | 14,250 | ||||||||||||
| 50,750,000 | i | Federal Home Loan Bank (FHLB) | SOFR + 0.005% | 1.515 | 07/18/22 | 50,750 | ||||||||||||
| 50,700,000 | i | FHLB | SOFR - 0.000% | 1.510 | 07/19/22 | 50,700 | ||||||||||||
| 40,000,000 | i | FHLB | SOFR + 0.005% | 1.515 | 07/25/22 | 40,000 | ||||||||||||
| 96,100,000 | i | FHLB | SOFR + 0.010% | 1.520 | 07/26/22 | 96,100 | ||||||||||||
| 63,500,000 | i | FHLB | SOFR + 0.045% | 1.555 | 07/29/22 | 63,500 | ||||||||||||
| 62,750,000 | i | FHLB | SOFR + 0.010% | 1.520 | 08/02/22 | 62,750 | ||||||||||||
| 423 |
COLLEGE RETIREMENT EQUITIES FUND - Money Market Account
| PRINCIPAL | ISSUER | REFERENCE RATE & SPREAD | RATE | MATURITY DATE | VALUE (000) | |||||||||||||
| $ | 42,500,000 | i | FHLB | SOFR + 0.010% | 1.520 | % | 08/02/22 | $ | 42,500 | |||||||||
| 42,000,000 | i | FHLB | SOFR + 0.010% | 1.520 | 08/04/22 | 42,000 | ||||||||||||
| 41,900,000 | i | FHLB | SOFR + 0.010% | 1.520 | 08/05/22 | 41,900 | ||||||||||||
| 51,625,000 | i | FHLB | SOFR + 0.010% | 1.520 | 08/10/22 | 51,625 | ||||||||||||
| 52,250,000 | i | FHLB | SOFR + 0.010% | 1.520 | 08/17/22 | 52,250 | ||||||||||||
| 1,700,000 | i | FHLB | SOFR + 0.090% | 1.600 | 09/08/22 | 1,700 | ||||||||||||
| 63,750,000 | i | FHLB | SOFR + 0.010% | 1.520 | 09/09/22 | 63,750 | ||||||||||||
| 42,000,000 | i | FHLB | SOFR + 0.005% | 1.515 | 09/15/22 | 42,000 | ||||||||||||
| 63,000,000 | i | FHLB | SOFR + 0.010% | 1.520 | 09/16/22 | 63,000 | ||||||||||||
| 85,250,000 | i | FHLB | SOFR + 0.085% | 1.595 | 10/05/22 | 85,254 | ||||||||||||
| 123,400,000 | i | FHLB | SOFR + 0.060% | 1.570 | 12/08/22 | 123,411 | ||||||||||||
| 21,000,000 | i | FHLB | SOFR + 0.060% | 1.570 | 12/23/22 | 21,005 | ||||||||||||
| 5,000,000 | i | FHLB | SOFR + 0.030% | 1.540 | 01/13/23 | 5,000 | ||||||||||||
| 6,200,000 | i | FHLB | SOFR + 0.015% | 1.525 | 03/15/23 | 6,199 | ||||||||||||
| 36,160,000 | i | FHLB | SOFR + 0.035% | 1.545 | 05/19/23 | 36,161 | ||||||||||||
| 42,500,000 | i | FHLB | SOFR + 0.030% | 1.540 | 08/11/23 | 42,500 | ||||||||||||
| 50,000,000 | i | Federal Home Loan Mortgage Corp (FHLMC) | SOFR + 0.090% | 1.600 | 08/03/22 | 50,004 | ||||||||||||
| 10,640,000 | i | FHLMC | SOFR + 0.130% | 1.640 | 08/05/22 | 10,641 | ||||||||||||
| 82,650,000 | i | FHLMC | SOFR + 0.095% | 1.605 | 08/19/22 | 82,652 | ||||||||||||
| 50,000,000 | i | Federal National Mortgage Association (FNMA) | SOFR + 0.190% | 1.700 | 07/06/22 | 50,001 | ||||||||||||
| 2,350,000 | i | FNMA | SOFR + 0.180% | 1.690 | 07/08/22 | 2,350 | ||||||||||||
| 43,550,000 | i | FNMA | SOFR + 0.120% | 1.630 | 07/29/22 | 43,552 | ||||||||||||
| 17,246,000 | i | United States Treasury Note | US Treasury Bill 3 M + 0.034% | 1.792 | 04/30/23 | 17,246 | ||||||||||||
| TOTAL VARIABLE RATE SECURITIES | 2,827,584 | |||||||||||||||||
| TOTAL SHORT-TERM INVESTMENTS (Cost $8,372,973) | 8,372,973 | |||||||||||||||||
| TOTAL INVESTMENTS - 100.0% (Cost $8,372,973) | 8,372,973 | |||||||||||||||||
| OTHER ASSETS & LIABILITIES, NET - 0.0% | 3,283 | |||||||||||||||||
| NET ASSETS - 100.0% | $ | 8,376,256 | ||||||||||||||||
| M | Month | ||
| SOFR | Secure Overnight Financing Rate | ||
| 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. | ||
| r | Agreement with Fixed Income Clearing Corporation, 1.450% dated 6/30/22 to be repurchased at $394,177,000 on 7/1/22, collateralized by Government Agency Securities, with coupon rates 0.050%-5.375% and maturity dates 4/30/26-2/15/31, valued at $402,060,561. | ||
| Cost amounts are in thousands. | |||
(A10944-C 8/22)
| 424 |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not Applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not Applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not Applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There were no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.
Item 11. 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 semi-annual reporting period.
(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s semi-annual period covered by this report that materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not Applicable
Item 13. Exhibits.
13(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Not applicable to this filing.
13(a)(2)(i) Section 302 certification of the principal executive officer
13(a)(2)(ii) Section 302 certification of the principal financial officer
13(b) Section 906 certification of principal executive officer and 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: August 16, 2022 | By: | /s/Colbert Narcisse |
| Colbert Narcisse | ||
| Principal Executive Officer and | ||
| President and Chief Executive Officer | ||
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: August 16, 2022 | By: | /s/Colbert Narcisse |
| Colbert Narcisse | ||
| Principal Executive Officer and | ||
| President and Chief Executive Officer | ||
| (principal executive officer) | ||
| Dated: August 16, 2022 | By: | /s/E. Scott Wickerham |
| E. Scott Wickerham | ||
| Principal Financial Officer, Principal Accounting Officer and Treasurer | ||
| (principal financial officer) |