COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2019

PRINCIPAL			ISSUER	RATE			MATURITY DATE		VALUE (000)
BONDS - 0.0%
GOVERNMENT BONDS - 0.0%
U.S. TREASURY SECURITIES - 0.0%
$	300,000		United States Treasury Note		1.750	%		05/15/22	$	296
			TOTAL U.S. TREASURY SECURITIES							296
			TOTAL GOVERNMENT BONDS							296
			(Cost $301)
			TOTAL BONDS							296
			(Cost $301)
EQUITY LINKED NOTES - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	70,600	*,j	Morgan Stanley BV		0.000			06/14/19		1,997
	16,000	*,†,j	Morgan Stanley BV		0.000			07/11/19		671
			TOTAL DIVERSIFIED FINANCIALS							2,668
			TOTAL EQUITY LINKED NOTES							2,668
			(Cost $2,304)

SHARES			COMPANY
COMMON STOCKS - 99.1%
AUTOMOBILES & COMPONENTS - 1.4%
	21,551	e	Adient plc	279
	115,000		Aisan Industry Co Ltd	708
	1,054,958		Aisin Seiki Co Ltd	37,766
	90,300	*	Akebono Brake Industry Co Ltd	101
	200,290	*	American Axle & Manufacturing Holdings, Inc	2,866
	564,661		Apollo Tyres Ltd	1,813
	1,069,495		Aptiv plc	85,014
	41,713	e	ARB Corp Ltd	510
	31,949		Asahi India Glass Ltd	120
	291	*	Autoliv, Inc	21
	1,625	e	Autoneum Holding AG.	187
	1,652,500	g	BAIC Motor Corp Ltd	1,082
	138,068		Bajaj Holdings and Investment Ltd	5,800
	40,802		Balkrishna Industries Ltd	586
	244,897		Bayerische Motoren Werke AG.	18,909

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,521		Bayerische Motoren Werke AG. (Preference)	$	232
	389,055		Bharat Forge Ltd		2,877
	85,860		BorgWarner, Inc		3,298
	9,345	*	Bosch Ltd		2,452
	117,871	e	Brembo S.p.A		1,338
	531,074		Bridgestone Corp		20,464
	7,594,135		Brilliance China Automotive Holdings Ltd		7,543
	6,100		BYD Co Ltd		49
	574,562	e	BYD Co Ltd (H shares)		3,474
	68,890		Ceat Ltd		1,113
	383,000		Chaowei Power Holdings Ltd		145
	1,209,251		Cheng Shin Rubber Industry Co Ltd		1,648
	4,498,000	*	China First Capital Group Ltd		2,380
	1,491,000		China Motor Corp		1,380
	351,479		Cie Automotive S.A.		9,464
	233,966		CIR-Compagnie Industriali Riunite S.p.A.		287
	314,839		Compagnie Plastic-Omnium S.A.		8,388
	117,144		Continental AG.		17,672
	66,349		Cooper Tire & Rubber Co		1,983
	38,629	*	Cooper-Standard Holding, Inc		1,814
	35,155		Cub Elecparts, Inc		335
	29,500		Daido Metal Co Ltd		189
	26,100		Daikyonishikawa Corp		240
	1,444,256		Daimler AG. (Registered)		84,754
	1,003,138		Dana Holding Corp		17,796
	316		Delphi Technologies plc		6
	187,199		Denso Corp		7,314
	53,000		Depo Auto Parts Ind Co Ltd		117
	208,284	e,g	Dometic Group AB		1,639
	2,536		Dong Ah Tire & Rubber Co Ltd		75
	2,159,787		Dongfeng Motor Group Co Ltd		2,167
	33,448	*	Dorman Products, Inc		2,946
	4,546,500		Drb-Hicom BHD		2,122
	70,300	e	Eagle Industry Co Ltd		770
	21,168		EDAG Engineering Group AG.		380
	18,483		ElringKlinger AG.		126
	30,832	g	Endurance Technologies Ltd		516
	22,579	*	Esmo Corp		120
	123,382		Exedy Corp		2,680
	322,239		Exide Industries Ltd		1,017
	151,896		Faurecia		6,394
	24,000		FCC Co Ltd		509
	163,647		Ferrari NV		21,986
	442,456	*	Fiat DaimlerChrysler Automobiles NV		6,608
	13,258,778		Ford Motor Co		116,412
	49,063		Ford Otomotiv Sanayi AS		430
	98,973	*	Fox Factory Holding Corp		6,917
	308,406		Fuji Heavy Industries Ltd		7,042
	40,797		Futaba Industrial Co Ltd		202
	13,500		Fuyao Glass Industry Group Co Ltd		49
	463,200	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		1,558
	19,440	*,e	Garrett Motion, Inc		286
	6,980,202		Geely Automobile Holdings Ltd		13,395
	6,062,000	*,†	General Motors Co		0

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	85,268,000	*,†,e	General Motors Co	$	0
	18,507,434	*,†	General Motors Co		0
	40,684,487	*,†,e	General Motors Co		0
	35,983,677	*,†	General Motors Co		0
	26,439,191	*,†	General Motors Co		0
	24,057,000	*,†	General Motors Co		0
	722,689	*,†,e	General Motors Co		0
	4,230,271	*,†,e	General Motors Co		0
	7,950,000	*,†	General Motors Co		0
	2,256,179		General Motors Co		83,704
	192,957		Gentex Corp		3,990
	42,897	*	Gentherm, Inc		1,581
	100,748	e,g	Gestamp Automocion S.A.		582
	39,496		Global & Yuasa Battery Co Ltd		1,608
	451,643		Goodyear Tire & Rubber Co		8,197
	2,582,989	e	Great Wall Motor Co Ltd		1,943
	100,900	e	G-Tekt Corp		1,398
	2,378,585		Guangzhou Automobile Group Co Ltd		2,815
	97,171		GUD Holdings Ltd		824
	24,783		Halla Holdings Corp		889
	66,912		Hankook Tire Co Ltd		2,208
	228,421		Hanon Systems		2,288
	87,948		Harley-Davidson, Inc		3,136
	45,104		Hero Honda Motors Ltd		1,662
	1,491,130		Honda Motor Co Ltd		40,500
	111,990		Hota Industrial Manufacturing Co Ltd		413
	11,300		Huayu Automotive Systems Co Ltd		34
	114,119		Hyundai Mobis		20,986
	189,046		Hyundai Motor Co		19,932
	41,634		Hyundai Motor Co Ltd (2nd Preference)		2,802
	16,793		Hyundai Motor Co Ltd (Preference)		1,025
	8,674		Hyundai Wia Corp		310
	376,800		Ichikoh Industries Ltd		2,035
	32,860		Indus Motor Co Ltd		305
	633,371		Isuzu Motors Ltd		8,345
	88,100		Kasai Kogyo Co Ltd		652
	9,689		Kayaba Industry Co Ltd		238
	267,200		Keihin Corp		4,386
	331,455		Kenda Rubber Industrial Co Ltd		318
	715,376		Kia Motors Corp		22,295
	29,636		Koito Manufacturing Co Ltd		1,685
	273,652	*,e	Kongsberg Automotive ASA		244
	328,242		Kordsa Teknik Tekstil AS.		615
	53,294	*	Kumho Tire Co, Inc		205
	104,000	e	Launch Tech Co Ltd		94
	29,832		LCI Industries, Inc		2,292
	198,641		Lear Corp		26,958
	23,209		Leoni AG.		453
	77,080		Linamar Corp		2,764
	407,419		Magna International, Inc		19,838
	885,474		Mahindra & Mahindra Ltd		8,611
	126,350	*	Mahindra CIE Automotive Ltd		428
	235,500		Mahle-Metal Leve S.A. Industria e Comercio		1,462

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,339		Mando Corp	$	438
	110,830		Martinrea International, Inc		1,004
	86,502		Maruti Suzuki India Ltd		8,328
	476,131		Mazda Motor Corp		5,338
	21,734		MGI Coutier		352
	419,721		Michelin (C.G.D.E.) (Class B)		49,588
	33,327		Minda Industries Ltd		157
	675,681		Minth Group Ltd		2,131
	12,900	e	Mitsuba Corp		73
	528,568		Mitsubishi Motors Corp		2,816
	643,070	*	Modine Manufacturing Co		8,919
	666,559		Motherson Sumi Systems Ltd		1,441
	24,844	*,e	Motorcar Parts of America, Inc		469
	47,100		Musashi Seimitsu Industry Co Ltd		640
	153,949		Nan Kang Rubber Tire Co Ltd		156
	13,516		Nexen Corp		74
	106,181		Nexen Tire Corp		928
	838,000		Nexteer Automotive Group Ltd		1,038
	605,223		NGK Spark Plug Co Ltd		11,273
	262,400		NHK Spring Co Ltd		2,361
	72,302	e	Nifco, Inc		1,846
	2,900		Nihon Tokushu Toryo Co Ltd		30
	112,100		Nippon Seiki Co Ltd		1,813
	3,388,757	e	Nissan Motor Co Ltd		27,829
	36,441		Nissan Shatai Co Ltd		316
	22,900		Nissin Kogyo Co Ltd		288
	50,996	e	NOK Corp		796
	7,758		Nokian Renkaat Oyj		260
	25,100		Pacific Industrial Co Ltd		354
	1,516,106		Peugeot S.A.		36,995
	98,307		Piaggio & C S.p.A.		240
	16,000		Piolax Inc		309
	317,125	*,g	Pirelli & C S.p.A		2,045
	471,545		Porsche AG.		29,591
	369,500		Press Kogyo Co Ltd		1,965
	17,736,407		PT Astra International Tbk		9,107
	1,188,000		Qingling Motors Co Ltd		332
	1,295,511		Renault S.A.		85,656
	4,500		Riken Corp		205
	37,840		S&T Daewoo Co Ltd		1,288
	26,174		SAF-Holland S.A.		300
	61,100		SAIC Motor Corp Ltd		237
	19,500	*,e	Sanden Corp		133
	327,920		Sanyang Industry Co Ltd		215
	9,899		Schaeffler AG.		81
	18,022	*	Shiloh Industries, Inc		99
	17,600	e	Shoei Co Ltd		753
	355,700		Showa Corp		4,549
	67,931		SL Corp		1,318
	136,454		Spartan Motors, Inc		1,205
	3,455,180		Sri Trang Agro-Industry PCL (Foreign)		1,396
	179,347	*	Ssangyong Motor Co		807
	26,434		Standard Motor Products, Inc		1,298
	24,642		Stanley Electric Co Ltd		664

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	144,123	*	Stoneridge, Inc	$	4,159
	478,788		Sumitomo Electric Industries Ltd		6,369
	62,140		Sumitomo Rubber Industries, Inc		746
	26,900		Sundram Fasteners Ltd		220
	22,693		Sungwoo Hitech Co Ltd		86
	41,085		Superior Industries International, Inc		196
	19,419		Suprajit Engineering Ltd		69
	245,371		Suzuki Motor Corp		10,877
	107,800		T RAD Co Ltd		2,068
	14,100		Tachi-S Co Ltd		202
	6,200		Taiho Kogyo Co Ltd		51
	1,272,729	*	Tata Motors Ltd		3,202
	12,000		Teikoku Piston Ring Co Ltd		229
	59,347		Tenneco, Inc		1,315
	194,012	*,e	Tesla, Inc		54,296
	20,350		Thal Ltd		61
	19,696		Thor Industries, Inc		1,228
	5,570,000		Tianneng Power International Ltd		5,018
	230,463		Tokai Rika Co Ltd		3,937
	21,700		Tokai Rubber Industries, Inc		183
	173,699		Tong Yang Industry Co Ltd		223
	163,300	e	Topre Corp		3,058
	27,830		Tower International, Inc		585
	57,200		Toyo Tire & Rubber Co Ltd		650
	32,615		Toyoda Gosei Co Ltd		692
	54,600		Toyota Boshoku Corp		828
	64,303		Toyota Industries Corp		3,231
	4,384,875		Toyota Motor Corp		258,316
	9,054		Trigano S.A.		706
	28,800		TS Tech Co Ltd		831
	90,062		Tube Investments of India Ltd		499
	30,500		Tupy S.A.		141
	146,200		UMW Holdings BHD		206
	34,500		Unipres Corp		540
	18,191		Valeo S.A.		528
	291	*,e	Veoneer, Inc		7
	13,106	*	Visteon Corp		883
	84,995		Volkswagen AG.		13,857
	24,221		Volkswagen AG. (Preference)		3,819
	6,381		WABCO India Ltd		614
	38,562		Winnebago Industries, Inc		1,201
	3,955,247		Xingda International Holdings Ltd		1,245
	1,810,785		Xinyi Glass Holdings Co Ltd		2,079
	2,376,000	g	Yadea Group Holdings Ltd		842
	88,662		Yamaha Motor Co Ltd		1,744
	95,700		Yokohama Rubber Co Ltd		1,781
	22,500		Yorozu Corp		295
	470,000		Yulon Motor Co Ltd		297
			TOTAL AUTOMOBILES & COMPONENTS		1,563,964
BANKS - 7.0%
	8,106		1st Constitution Bancorp		144
	26,912		1st Source Corp		1,209

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,300		77 Bank Ltd	$	549
	32,142		Aareal Bank AG.		993
	396,931	g	ABN AMRO Group NV (ADR)		8,949
	1,081,430	e	Absa Group Ltd		11,445
	3,648,263	*	Abu Dhabi Commercial Bank PJSC		9,425
	9,492		ACNB Corp		351
	75,219,649		Agricultural Bank of China		34,771
	931,100		Agricultural Bank of China Ltd		517
	2,764,307		AIB Group plc		12,439
	3,600		Aichi Bank Ltd		112
	2,206,635	*	Akbank TAS		2,513
	7,400		Akita Bank Ltd		150
	56,532		Aktia Bank OYJ		594
	73,155	*	Alior Bank S.A.		1,140
	16,518	*	Allegiance Bancshares, Inc		557
	929,756		Alliance Financial Group BHD		933
	1,112,468	*	Alpha Bank AE		1,544
	315,270	*,†	Amagerbanken AS		0
	16,331		Amalgamated Bank		256
	11,044		American National Bankshares, Inc		386
	50,125		Ameris Bancorp		1,722
	11,001	*	Ames National Corp		302
	3,908,938		AMMB Holdings BHD		4,371
	9,400	e	Aomori Bank Ltd		249
	52,193	e	Aozora Bank Ltd		1,290
	16,477		Arrow Financial Corp		542
	19,800	e	Aruhi Corp		395
	1,777,660		Ashikaga Holdings Co Ltd		4,550
	1,042,471		Associated Banc-Corp		22,257
	103,980	*	Atlantic Capital Bancshares, Inc		1,854
	168,695	g	AU Small Finance Bank Ltd		1,449
	3,519	e	Auburn National Bancorporation, Inc		139
	3,811,090		Australia & New Zealand Banking Group Ltd		70,483
	19,444		Awa Bank Ltd		495
	2,209,435	*	Axis Bank Ltd		24,759
	70,752	*	Axos Financial, Inc		2,049
	49,495	e	Banc of California, Inc		685
	12,782,425		Banca Intesa S.p.A.		31,196
	210,448	*,e	Banca Monte dei Paschi di Siena S.p.A		295
	3,335,124		Banca Popolare dell’Emilia Romagna Scrl		13,648
	894,184		Banca Popolare di Sondrio SCARL		2,449
	30,372		Bancfirst Corp		1,584
	610,565	e	Banche Popolari Unite Scpa		1,618
	507,454		Banco ABC Brasil S.A.		2,469
	2,218,039	*	Banco Bilbao Vizcaya Argentaria S.A.		12,673
	891,404	*,e	Banco BPM S.p.A		1,847
	1,278,130		Banco Bradesco S.A.		12,356
	4,244,482		Banco Bradesco S.A. (Preference)		46,550
	5,155,460	*	Banco Comercial Portugues S.A.		1,333
	17,873,245		Banco de Chile		2,631
	38,462	*	Banco de Credito e Inversiones		2,459
	1,575,773		Banco de Oro Universal Bank		4,022
	662,635		Banco de Sabadell S.A.		660
	467,000	g	Banco del Bajio S.A.		928

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,934,132		Banco do Brasil S.A.	$	24,067
	1,172,800		Banco do Estado do Rio Grande do Sul		7,246
	16,063,377	*,†	Banco Espirito Santo S.A.		180
	83,200	g	Banco Inter S.A.		1,124
	6,062,147		Banco Itau Holding Financeira S.A.		53,308
	775,148		Banco Santander Brasil S.A.		8,705
	51,042,339		Banco Santander Chile S.A.		3,840
	1,397,969	e	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		1,911
	14,622,369		Banco Santander S.A.		67,899
	212,356		BanColombia S.A.		2,638
	524,968		BanColombia S.A. (Preference)		6,653
	117,818		BancorpSouth Bank		3,325
	175,400		Bangkok Bank PCL (ADR)		1,145
	1,359,000		Bangkok Bank PCL (Foreign)		9,261
	435,600		Bank Alfalah Ltd		146
	11,517		Bank Handlowy w Warszawie S.A.		203
	304,786		Bank Hapoalim Ltd		2,026
	643,798		Bank Leumi Le-Israel		4,218
	452,547	*	Bank Millennium S.A.		1,055
	32,522,300		Bank of America Corp		897,290
	171,200		Bank of Beijing Co Ltd		158
	134,100		Bank of China Ltd		75
	125,110,572		Bank of China Ltd (Hong Kong)		56,859
	16,567		Bank of Commerce Holdings		175
	641,700		Bank of Communications Co Ltd		596
	20,895,946		Bank of Communications Co Ltd (Hong Kong)		17,143
	1,670,332		Bank of East Asia Ltd		5,430
	58,888		Bank of Georgia Group plc		1,269
	21,800		Bank of Hangzhou Co Ltd		28
	20,689		Bank of Hawaii Corp		1,632
	12,484,214		Bank of Ireland Group plc		74,506
	8,700		Bank of Iwate Ltd		257
	57,000		Bank of Jiangsu Co Ltd		60
	326,655		Bank of Kaohsiung		103
	408,684		Bank of Kyoto Ltd		17,112
	24,461		Bank of Marin Bancorp		995
	797,630		Bank of Montreal		59,681
	6,099	e	Bank of Nagoya Ltd		197
	160,000		Bank of Nanjing Co Ltd		188
	100,700		Bank of Ningbo Co Ltd		318
	1,321,727	e	Bank of Nova Scotia		70,362
	447,496		Bank of NT Butterfield & Son Ltd		16,056
	12,100		Bank of Okinawa Ltd		377
	6,568		Bank of Princeton		208
	503,818		Bank of Queensland Ltd		3,257
	6,654		Bank of Saga Ltd		115
	86,360		Bank of Shanghai Co Ltd		154
	1,111,978		Bank of the Philippine Islands		1,785
	34,600		Bank of the Ryukyus Ltd		353
	207,681		Bank OZK		6,019
	144,237		Bank Pekao S.A.		4,137
	46,070,157		Bank Rakyat Indonesia		13,377

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,273		Bank Zachodni WBK S.A.	$	2,709
	4,264	*	Bank7 Corp		74
	53,948		BankFinancial Corp		802
	221,462		Bankia S.A.		574
	238,915		Bankinter S.A.		1,821
	157,426		BankUnited		5,258
	8,216		Bankwell Financial Group, Inc		240
	68,841		Banner Corp		3,729
	2,436		Banque Cantonale Vaudoise		1,953
	28,792		Bar Harbor Bankshares		745
	2,657,018		Barclays plc		5,352
	250,405	g	BAWAG Group AG.		11,064
	14,580	*	Baycom Corp		330
	572,456		BB&T Corp		26,636
	17,664		BCB Bancorp, Inc		237
	176,904		Bendigo Bank Ltd		1,217
	95,047		Berkshire Hills Bancorp, Inc		2,589
	76,638		Blue Hills Bancorp, Inc		1,832
	923,309		BNP Paribas		43,939
	6,961,833		BOC Hong Kong Holdings Ltd		28,891
	45,461		BOK Financial Corp		3,707
	274,641		Boston Private Financial Holdings, Inc		3,010
	10,925		BRE Bank S.A.		1,210
	22,282		Bridge Bancorp, Inc		653
	43,189	*	Bridgewater Bancshares, Inc		445
	165,782		Brookline Bancorp, Inc		2,387
	24,280		Bryn Mawr Bank Corp		877
	163,312		BS Financial Group, Inc		962
	1,453	*	BSB Bancorp, Inc		48
	11,116,687		Bumiputra-Commerce Holdings BHD		14,048
	13,333	e	Business First Bancshares, Inc		327
	23,823	*	Byline Bancorp, Inc		440
	4,424		C&F Financial Corp		224
	392,652		Cadence BanCorp		7,284
	8,865,657	*	CaixaBank S.A.		27,724
	4,660		Cambridge Bancorp		386
	22,846		Camden National Corp		953
	17,050		Can Fin Homes Ltd		86
	416,761	e	Canadian Imperial Bank of Commerce		32,933
	115,811	e	Canadian Western Bank		2,419
	151,270		Canara Bank		636
	8,377	*	Capital Bancorp, Inc		97
	15,604		Capital City Bank Group, Inc		340
	46,394		Capitec Bank Holdings Ltd		4,341
	168,782		Capitol Federal Financial		2,253
	9,946		Capstar Financial Holdings, Inc		144
	33,792		Carolina Financial Corp		1,169
	289,544		Cathay General Bancorp		9,818
	6,904	e	CB Financial Services, Inc		164
	25,540		CBTX, Inc		829
	341,619		Centerstate Banks of Florida, Inc		8,134
	335,517		Central Pacific Financial Corp		9,676
	13,571		Central Valley Community Bancorp		265
	3,446		Century Bancorp, Inc		252

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,511,545		Chang Hwa Commercial Bank	$	2,104
	215,679	g	Charter Court Financial Services Group plc		933
	202,533		Chemical Financial Corp		8,336
	4,277		Chemung Financial Corp		201
	357,132		Chiba Bank Ltd		1,942
	21,900		Chiba Kogyo Bank Ltd		59
	31,305,481		China Citic Bank		19,962
	28,700		China CITIC Bank Corp Ltd		27
	139,792,359		China Construction Bank		119,993
	231,500		China Construction Bank Corp		239
	9,713,577		China Development Financial Holding Corp		3,251
	65,300		China Everbright Bank Co Ltd		40
	7,078,685		China Everbright Bank Co Ltd (Hong Kong)		3,352
	4,598,896		China Merchants Bank Co Ltd		22,405
	196,300		China Merchants Bank Co Ltd (Class A)		990
	258,400		China Minsheng Banking Corp Ltd		244
	6,127,671		China Minsheng Banking Corp Ltd (Hong Kong)		4,456
	17,571,781		Chinatrust Financial Holding Co		11,669
	146,000		Chong Hing Bank Ltd		270
	2,699,584		Chongqing Rural Commercial Bank		1,562
	94,800		Chugoku Bank Ltd		889
	5,200		Chukyo Bank Ltd		107
	220,308		CIT Group, Inc		10,568
	5,831,489		Citigroup, Inc		362,835
	14,722		Citizens & Northern Corp		369
	4,101,214		Citizens Financial Group, Inc		133,289
	19,357		City Holding Co		1,475
	377,936		City Union Bank Ltd		1,118
	22,051		Civista Bancshares, Inc		481
	20,150		CNB Financial Corp		509
	9,317	*	Coastal Financial Corp		158
	12,549		Codorus Valley Bancorp, Inc		268
	21,905	*,e	Collector AB		117
	89,321		Columbia Banking System, Inc		2,920
	62,811	*	Columbia Financial, Inc		984
	26,213		Comdirect Bank AG.		297
	266,138		Comerica, Inc		19,513
	50,108		Commerce Bancshares, Inc		2,909
	12,382		Commerce Union Bancshares, Inc		276
	374,800	*	Commercial Bank of Qatar QSC		4,629
	1,510,313		Commercial International Bank		5,944
	1,503,390	*	Commerzbank AG.		11,655
	1,539,075		Commonwealth Bank of Australia		77,252
	61,983		Community Bank System, Inc		3,705
	33,440		Community Bankers Trust Corp		245
	5,882		Community Financial Corp		167
	20,545		Community Trust Bancorp, Inc		844
	688,229	e	Concordia Financial Group Ltd		2,661
	244,856		ConnectOne Bancorp, Inc		4,824
	67,718,559		Corpbanca S.A.		597
	6,653		County Bancorp, Inc		117
	85,541		Credicorp Ltd (NY)		20,526
	4,734,307		Credit Agricole S.A.		57,162

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	46,594		Credito Emiliano S.p.A.	$	262
	3,988,352	*	Credito Valtellinese S.p.A		321
	24,153		Cullen/Frost Bankers, Inc		2,345
	90,578	*	Customers Bancorp, Inc		1,658
	136,236		CVB Financial Corp		2,868
	758,256		CYBG plc		1,960
	5,646,074	*,†	Cyprus Popular Bank Public Co Ltd		63
	714,827		Dah Sing Banking Group Ltd		1,344
	96,708		Dah Sing Financial Holdings Ltd		508
	125,150		Daishi Hokuetsu Financial Group, Inc		3,543
	430,230		Danske Bank AS		7,562
	1,437,266		DBS Group Holdings Ltd		26,829
	592,384	g	Deutsche Pfandbriefbank AG.		7,268
	249,879		Development Credit Bank Ltd		738
	69,505		Dewan Housing Finance Corp Ltd		151
	136,485		DGB Financial Group Co Ltd		983
	39,919		Dime Community Bancshares		748
	651,770		DNB NOR Holding ASA		12,005
	86,112		Doha Bank QSC		505
	4,146,393	*	Dubai Islamic Bank PJSC		5,537
	8,811,276		E.Sun Financial Holding Co Ltd		6,800
	74,984	*	Eagle Bancorp, Inc		3,764
	408,991		East West Bancorp, Inc		19,619
	424,100		EastWest Banking Corp		98
	36,100		Ehime Bank Ltd		372
	8,123	*	Entegra Financial Corp		182
	13,020		Enterprise Bancorp, Inc		374
	61,021		Enterprise Financial Services Corp		2,488
	14,876		Equitable Group, Inc		721
	18,841	*	Equity Bancshares, Inc		543
	1,208,840	*	Erste Bank der Oesterreichischen Sparkassen AG.		44,429
	8,499	*	Esquire Financial Holdings, Inc		193
	13,027		ESSA Bancorp, Inc		201
	673,650	*	Essent Group Ltd		29,270
	996,161	*	Eurobank Ergasias S.A.		795
	6,233		Evans Bancorp, Inc		222
	1,271,625		Far Eastern International Bank		462
	11,257	e	Farmers & Merchants Bancorp, Inc		339
	44,601		Farmers National Banc Corp		615
	22,392		FB Financial Corp		711
	47,440		Federal Agricultural Mortgage Corp (Class C)		3,436
	2,224,606		Federal Bank Ltd		3,095
	4,176	e	Fidelity D&D Bancorp, Inc		247
	35,170		Fidelity Southern Corp		963
	965,368		Fifth Third Bancorp		24,347
	29,514		Financial Institutions, Inc		802
	330,638		FinecoBank Banca Fineco S.p.A		4,356
	105,735		First Bancorp (NC)		3,675
	824,126		First Bancorp (Puerto Rico)		9,444
	13,993		First Bancorp, Inc		349
	18,995		First Bancshares, Inc		587
	19,508		First Bank		225
	167,812		First Busey Corp		4,095
	12,107		First Business Financial Services, Inc		242

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,582	e	First Choice Bancorp	$	185
	3,658		First Citizens Bancshares, Inc (Class A)		1,490
	248,645		First Commonwealth Financial Corp		3,133
	20,616		First Community Bancshares, Inc		683
	8,072		First Community Corp		154
	32,318		First Defiance Financial Corp		929
	115,858		First Financial Bancorp		2,788
	80,834		First Financial Bankshares, Inc		4,671
	25,723		First Financial Corp		1,080
	8,919,433		First Financial Holding Co Ltd		6,109
	9,419		First Financial Northwest, Inc		148
	97,666		First Foundation, Inc		1,325
	6,697	e	First Guaranty Bancshares, Inc		137
	138,058		First Hawaiian, Inc		3,596
	552,296		First Horizon National Corp		7,721
	192,741		First International Bank Of Israel Ltd		4,551
	17,097		First Internet Bancorp		330
	83,021		First Interstate Bancsystem, Inc		3,306
	202,283		First Merchants Corp		7,454
	16,892		First Mid-Illinois Bancshares, Inc		563
	129,521		First Midwest Bancorp, Inc		2,650
	22,794		First National Financial Corp		521
	11,625		First Northwest Bancorp		181
	66,656		First of Long Island Corp		1,462
	49,393		First Republic Bank		4,962
	2,721		First Savings Financial Group, Inc		147
	10,238		First United Corp		177
	36,133		Flagstar Bancorp, Inc		1,189
	40,675		Flushing Financial Corp		892
	129,423		FNB Corp		1,372
	18,008		Franklin Financial Network, Inc		522
	13,280		FS Bancorp, Inc		670
	297,422		Fukuoka Financial Group, Inc		6,604
	362,715		Fulton Financial Corp		5,615
	2,440	*	FVCBankcorp, Inc		41
	52,938	e	Genworth MI Canada, Inc		1,604
	163,278	e	Genworth Mortgage Insurance Australia Ltd		278
	25,130		German American Bancorp, Inc		739
	105,413		Glacier Bancorp, Inc		4,224
	14,687		Great Southern Bancorp, Inc		762
	391,569		Great Western Bancorp, Inc		12,370
	3,917	e	Greene County Bancorp, Inc		119
	176,173		Gruh Finance Ltd		701
	7,109,855		Grupo Aval Acciones y Valores		2,754
	2,997,469		Grupo Financiero Banorte S.A. de C.V.		16,298
	2,384,965	e	Grupo Financiero Inbursa S.A.		3,304
	714,325		Grupo Security S.A.		290
	400,000	e	Grupo Supervielle S.A. (ADR)		2,432
	8,998		Guaranty Bancshares, Inc		263
	236,400		Gunma Bank Ltd		896
	336,700		Habib Bank Ltd		317
	217,300		Hachijuni Bank Ltd		902
	309,468		Hana Financial Group, Inc		9,936

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	332,730		Hancock Holding Co	$	13,442
	989,237		Hang Seng Bank Ltd		24,427
	118,622		Hanmi Financial Corp		2,523
	25,049	*	HarborOne Bancorp, Inc		431
	40,511		HDFC Bank Ltd		1,359
	36,385		Heartland Financial USA, Inc		1,552
	271,556		Heritage Commerce Corp		3,286
	44,967		Heritage Financial Corp		1,355
	89,211		Hilltop Holdings, Inc		1,628
	1,737		Hingham Institution for Savings		299
	137,400		Hiroshima Bank Ltd		700
	51,900		Hokkoku Bank Ltd		1,630
	78,400		Hokuhoku Financial Group, Inc		817
	9,977		Home Bancorp, Inc		332
	451,112		Home Bancshares, Inc		7,926
	79,776	*,e	Home Capital Group, Inc		940
	30,628	*	HomeStreet, Inc		807
	60,842		HomeTrust Bancshares, Inc		1,533
	552,196		Hong Leong Bank BHD		2,750
	194,656		Hong Leong Credit BHD		915
	150,130		Hope Bancorp, Inc		1,964
	109,562		Horizon Bancorp		1,763
	1,956,984		Housing Development Finance Corp		55,584
	15,508	*,e	Howard Bancorp, Inc		230
	9,219,908		HSBC Holdings plc		74,920
	5,234,725		Hua Nan Financial Holdings Co Ltd		3,297
	173,100		Huaxia Bank Co Ltd		213
	5,561,399		Huntington Bancshares, Inc		70,519
	117,192		Hyakugo Bank Ltd		373
	12,300		Hyakujushi Bank Ltd		255
	195,037		IBERIABANK Corp		13,986
	2,436,325		ICICI Bank Ltd		14,074
	199,071		ICICI Bank Ltd (ADR)		2,281
	7,995,224		IDFC Bank Ltd		6,401
	9,716	*,e	Impac Mortgage Holdings, Inc		38
	50,363		Independent Bank Corp (MA)		4,080
	139,065		Independent Bank Corp (MI)		2,990
	86,530		Independent Bank Group, Inc		4,438
	48,795		Indian Bank		197
	104,928,706		Industrial & Commercial Bank of China		77,058
	177,600		Industrial & Commercial Bank of China Ltd		147
	175,640		Industrial Bank Co Ltd		475
	217,125		Industrial Bank of Korea		2,688
	14,724,998		ING Groep NV		178,427
	72,017		International Bancshares Corp		2,739
	11,214	e	Investar Holding Corp		255
	6,034,265		Investimentos Itau S.A. - PR		18,463
	977,754		Investors Bancorp, Inc		11,586
	541,290	*,†	Irish Bank Resolution Corp Ltd		0
	4,639,807		Israel Discount Bank Ltd		16,079
	138,700		Iyo Bank Ltd		734
	145,900	*	Jammu & Kashmir Bank Ltd		113
	457,574	e	Japan Post Bank Co Ltd		5,000
	406,368		JB Financial Group Co Ltd		1,998

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	96,200		Jimoto Holdings Inc	$	101
	7,686,390		JPMorgan Chase & Co		778,093
	18,555		Juroku Bank Ltd		377
	40,348	e	Jyske Bank		1,560
	168,940	e	Kansai Mirai Financial Group, Inc		1,205
	724,794		Karnataka Bank Ltd		1,398
	546,059		Karur Vysya Bank Ltd		563
	200,000		Kasikornbank PCL NVDR		1,183
	1,564,397		Kasikornbank PCL (Foreign)		9,281
	437,195		KB Financial Group, Inc		16,177
	162,259		KBC Groep NV		11,344
	352,882		Kearny Financial Corp		4,542
	96,100		Keiyo Bank Ltd		562
	916,076		Keycorp		14,428
	279,632		Kiatnakin Bank PCL (Foreign)		613
	479,000		King’s Town Bank		498
	44,200		Kiyo Bank Ltd		617
	72,028		Komercni Banka AS		2,944
	3,050,324		Krung Thai Bank PCL (Foreign)		1,847
	203,600		Kyushu Financial Group, Inc		828
	91,957		Lakeland Bancorp, Inc		1,373
	98,034		Lakeland Financial Corp		4,433
	59,342	e	Laurentian Bank of Canada		1,801
	11,697		LCNB Corp		201
	233,616		LegacyTexas Financial Group, Inc		8,735
	9,807	*,e	LendingTree, Inc		3,448
	6,643	e	Level One Bancorp, Inc		155
	1,129,294	*	Liberbank S.A.		482
	258,534		LIC Housing Finance Ltd		1,986
	15,973		Liechtensteinische Landesbank AG.		1,118
	32,524	e	Live Oak Bancshares, Inc		475
	100,900,650		Lloyds TSB Group plc		81,747
	22,643		Luther Burbank Corp		229
	719,058		M&T Bank Corp		112,906
	43,108		Macatawa Bank Corp		428
	2,954,233		Malayan Banking BHD		6,713
	1,067,101		Malaysia Building Society		250
	7,559	*	Malvern Bancorp, Inc		152
	309,760	*	Masraf Al Rayan		3,130
	23,849		MBT Financial Corp		239
	246,300		MCB Bank Ltd		344
	6,527,327		Mediobanca S.p.A.		67,963
	8,931,214		Mega Financial Holding Co Ltd		8,136
	22,268		Mercantile Bank Corp		729
	19,124		Merchants Bancorp		411
	350,141		Meridian Bancorp, Inc		5,494
	97,617		Meta Financial Group, Inc		1,921
	56,320	*,e	Metro Bank plc		557
	3,669,758		Metropolitan Bank & Trust		5,589
	9,489	*	Metropolitan Bank Holding Corp		330
	1,051,843	*	MGIC Investment Corp		13,874
	5,183	e	Mid Penn Bancorp, Inc		127
	3,774		Middlefield Banc Corp		156

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,017		Midland States Bancorp, Inc	$	1,011
	20,647	e	Midsouth Bancorp, Inc		236
	14,101		MidWestOne Financial Group, Inc		384
	5,565,664		Mitsubishi UFJ Financial Group, Inc		27,527
	148,755		Mitsui Trust Holdings, Inc		5,346
	9,700		Miyazaki Bank Ltd		243
	32,419		Mizrahi Tefahot Bank Ltd		668
	12,416,158		Mizuho Financial Group, Inc		19,214
	7,789,065	g	Moneta Money Bank AS		26,891
	138,406	*	Mr Cooper Group, Inc		1,327
	15,768		Musashino Bank Ltd		315
	9,153		MutualFirst Financial, Inc		274
	11,523		MVB Financial Corp		176
	13,892		Nanto Bank Ltd		260
	2,006,748		National Australia Bank Ltd		36,058
	228,935		National Bank Holdings Corp		7,614
	2,362,251	*	National Bank of Abu Dhabi PJSC		9,826
	455,558	e	National Bank of Canada		20,560
	294,755	*	National Bank of Greece S.A.		516
	314,500	*	National Bank Of Pakistan		90
	9,292		National Bankshares, Inc		398
	21,870	*	National Commerce Corp		858
	53,202		NBT Bancorp, Inc		1,916
	460,518	e	Nedbank Group Ltd		8,048
	315,199		New York Community Bancorp, Inc		3,647
	418,429	g	NIBC Holding NV		3,835
	18,059	*	Nicolet Bankshares, Inc		1,076
	215,560		Nishi-Nippon Financial Holdings, Inc		1,832
	137,754	*	NMI Holdings, Inc		3,564
	836,597	*,e	Nordea Bank Abp		6,371
	150,100		North Pacific Bank Ltd		376
	10,166		Northeast Bancorp		210
	59,186		Northfield Bancorp, Inc		823
	9,429		Northrim BanCorp, Inc		325
	119,224		Northwest Bancshares, Inc		2,023
	95,635	*	Norwegian Finans Holding ASA		744
	7,891	e	Norwood Financial Corp		243
	450,000	*,g	Nova Ljubljanska (GDR)		6,311
	131,898	*	Nova Ljubljanska Banka dd (ADR)		1,805
	10,020	e	Oak Valley Bancorp		177
	746,000		O-Bank Co Ltd		190
	155,911		OceanFirst Financial Corp		3,751
	1,896	e	Oconee Federal Financial Corp		49
	367	*	Ocwen Financial Corp		0	^
	298,662		OFG Bancorp		5,911
	19,600		Ogaki Kyoritsu Bank Ltd		408
	4,285	e	Ohio Valley Banc Corp		155
	7,800		Oita Bank Ltd		244
	25,001		Old Line Bancshares, Inc		623
	185,411		Old National Bancorp		3,041
	59,078		Old Second Bancorp, Inc		744
	876,673		OneSavings Bank plc		4,383
	12,867		OP Bancorp		113
	27,677		Opus Bank		548

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,218		Origin Bancorp, Inc	$	1,029
	67,689		Oritani Financial Corp		1,126
	8,588		Orrstown Financial Services, Inc		160
	322,216		OTP Bank		14,205
	3,635,187		Oversea-Chinese Banking Corp		29,720
	15,873		Pacific City Financial Corp		277
	20,746	*	Pacific Mercantile Bancorp		158
	53,963		Pacific Premier Bancorp, Inc		1,432
	153,660		PacWest Bancorp		5,779
	694,532		Paragon Group of Cos plc		3,942
	16,081		Park National Corp		1,524
	8,416		Parke Bancorp, Inc		176
	22,541		PCSB Financial Corp		441
	13,480	*	PDL Community Bancorp		188
	74,762		Peapack Gladstone Financial Corp		1,960
	6,055		Penns Woods Bancorp, Inc		249
	25,881		PennyMac Financial Services, Inc		576
	7,484	e	Peoples Bancorp of North Carolina, Inc		199
	59,941		Peoples Bancorp, Inc		1,856
	9,800	e	Peoples Financial Services Corp		443
	224,669		People’s United Financial, Inc		3,694
	20,564		People’s Utah Bancorp		542
	4,065,840	*	Permanent TSB Group Holdings plc		5,875
	2,554,190	*	Philippine National Bank		2,773
	4,594,698		Ping An Bank Co Ltd		8,758
	49,541		Pinnacle Financial Partners, Inc		2,710
	142,281	*	Piraeus Bank S.A.		195
	53,174	g	PNB Housing Finance Ltd		664
	838,484		PNC Financial Services Group, Inc		102,848
	382,359		Popular, Inc		19,932
	4,669,000	g	Postal Savings Bank of China Co Ltd		2,673
	778,437		Powszechna Kasa Oszczednosci Bank Polski S.A.		7,827
	54,655		Preferred Bank		2,458
	15,871		Premier Financial Bancorp, Inc		249
	29,897		Prosperity Bancshares, Inc		2,065
	4,425	*	Provident Bancorp, Inc		100
	230,107		Provident Financial Services, Inc		5,957
	12,215		Prudential Bancorp, Inc		212
	51,789,200		PT Bank Bukopin Tbk		1,215
	7,342,174		PT Bank Central Asia Tbk		14,327
	1,982,007		PT Bank Danamon Indonesia Tbk		1,294
	1,379,200		PT Bank Jabar Banten Tbk		195
	45,909,291		PT Bank Mandiri Persero Tbk		24,091
	6,757,819		PT Bank Negara Indonesia		4,473
	27,912,800	*	PT Bank Pan Indonesia Tbk		2,819
	12,569,800		PT Bank Pembangunan Daerah Jawa Timur Tbk		574
	3,013,800		PT Bank Tabungan Negara Tbk		518
	2,912,284		Public Bank BHD		16,534
	100,913	*	Qatar Islamic Bank SAQ		4,206
	575,408	*	Qatar National Bank		28,528
	68,848		QCR Holdings, Inc		2,335
	759,247		Radian Group, Inc		15,747
	77,059		Raiffeisen International Bank Holding AG.		1,731

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,447		RBB Bancorp	$	366
	261,023	g	RBL Bank Ltd		2,561
	1,174,200	e	Regional SAB de C.V.		5,923
	1,090,617		Regions Financial Corp		15,432
	73,569		Renasant Corp		2,490
	13,028		Republic Bancorp, Inc (Class A)		583
	53,914	*	Republic First Bancorp, Inc		283
	3,350,455		Resona Holdings, Inc		14,514
	2,484,677		RHB Capital BHD		3,473
	23,779		Riverview Bancorp, Inc		174
	5,200	*,†	Roskilde Bank		0
	1,646,253		Royal Bank of Canada		124,200
	2,136,853		Royal Bank of Scotland Group plc		6,881
	40,207		S&T Bancorp, Inc		1,589
	21,500		San ju San Financial Group, Inc		300
	94,125		Sandy Spring Bancorp, Inc		2,944
	78,300		San-In Godo Bank Ltd		562
	8,542		SB One Bancorp		186
	4,500,033	*	Sberbank of Russia (ADR)		59,310
	57,181	*	Seacoast Banking Corp of Florida		1,507
	183,350		Security Bank Corp		604
	16,552	*	Select Bancorp, Inc		188
	139,080		Senshu Ikeda Holdings, Inc		357
	64,449		ServisFirst Bancshares, Inc		2,176
	1,992,993		Seven Bank Ltd		5,892
	2,905,000		Shanghai Commercial & Savings Bank Ltd		4,594
	221,400		Shanghai Pudong Development Bank Co Ltd		371
	140,000	e	Shiga Bank Ltd		3,340
	16,900		Shikoku Bank Ltd		159
	536,245		Shinhan Financial Group Co Ltd		19,912
	267,557		Shinsei Bank Ltd		3,807
	784,800		Shizuoka Bank Ltd		5,979
	21,789		Shore Bancshares, Inc		325
	16,729		SI Financial Group, Inc		216
	551,700		Siam Commercial Bank PCL (ADR)		2,295
	1,416,297		Siam Commercial Bank PCL (Foreign)		5,892
	18,589		Sierra Bancorp		452
	306,446		Signature Bank		39,247
	113,989		Simmons First National Corp (Class A)		2,790
	7,318,554		SinoPac Financial Holdings Co Ltd		2,711
	46,210	g	Skandiabanken ASA		419
	1,844,580	e	Skandinaviska Enskilda Banken AB (Class A)		15,979
	16,083	*	SmartFinancial, Inc		304
	380,902		Societe Generale		11,006
	2,517,358		South Indian Bank Ltd		600
	80,730		South State Corp		5,517
	9,084	*	Southern First Bancshares, Inc		308
	8,752		Southern Missouri Bancorp, Inc		270
	57,217		Southern National Bancorp of Virginia, Inc		838
	40,877		Southside Bancshares, Inc		1,358
	46,781		Spar Nord Bank AS		410
	20,414		Sparebank Oestlandet		195
	319,954		SpareBank SR-Bank ASA		3,688
	393,309		Sparebanken Midt-Norge		3,986

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	381,477		Sparebanken Nord-Norge	$	2,819
	12,970	*	Spirit of Texas Bancshares, Inc		275
	1,553		St Galler Kantonalbank		714
	2,015,837		Standard Bank Group Ltd		26,002
	1,428,707		Standard Chartered plc		11,013
	1,443,067	*	State Bank of India		6,674
	47,208		Sterling Bancorp, Inc		479
	138,619		Sterling Bancorp/DE		2,582
	62,529		Stock Yards Bancorp, Inc		2,114
	3,814,489		Sumitomo Mitsui Financial Group, Inc		133,578
	14,811		Summit Financial Group, Inc		393
	944,890		SunTrust Banks, Inc		55,985
	104,900	e	Suruga Bank Ltd		487
	66,823	*	SVB Financial Group		14,859
	218,045	*,e	Svenska Handelsbanken AB		2,302
	285,456	*,e	Swedbank AB (A Shares)		4,034
	38,282	e	Sydbank AS		794
	343,132		Synovus Financial Corp		11,790
	1,351,847		Taichung Commercial Bank		500
	7,311,699		Taishin Financial Holdings Co Ltd		3,336
	3,721,815		Taiwan Business Bank		1,451
	12,545,015		Taiwan Cooperative Financial Holding		7,943
	635,657		TCF Financial Corp		13,152
	385,652		TCS Group Holding plc (ADR)		6,841
	8,574		Territorial Bancorp, Inc		231
	18,998	*	Texas Capital Bancshares, Inc		1,037
	16,507	*	Texcell-NetCom Co Ltd		275
	176,562	e	TFS Financial Corp		2,908
	2,254,700		Thanachart Capital PCL		3,874
	333,962	*	The Bancorp, Inc		2,698
	129,441	e	Timbercreek Financial Corp		909
	8,636		Timberland Bancorp, Inc		242
	296,180		Tisco Bank PCL		825
	8,941,987		TMB Bank PCL (Foreign)		575
	40,700		Tochigi Bank Ltd		86
	103,400		Toho Bank Ltd		277
	18,293	e	Tokyo TY Financial Group, Inc		259
	173,200		Tomony Holdings, Inc		659
	18,078		Tompkins Trustco, Inc		1,375
	2,617,448		Toronto-Dominion Bank		142,042
	51,800		Towa Bank Ltd		334
	78,768		TowneBank		1,949
	65,215		Trico Bancshares		2,562
	139,690	*	Tristate Capital Holdings, Inc		2,854
	68,231	*	Triumph Bancorp, Inc		2,005
	117,845		Trustco Bank Corp NY		914
	83,208		Trustmark Corp		2,798
	6,464,659		Turkiye Garanti Bankasi AS		9,725
	508,498		Turkiye Halk Bankasi AS		584
	3,629,207		Turkiye Is Bankasi (Series C)		3,599
	11,316,703		Turkiye Sinai Kalkinma Bankasi AS		1,549
	149,609		UMB Financial Corp		9,581
	382,485		Umpqua Holdings Corp		6,311

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	494,238	g	Unicaja Banco S.A.	$	532
	3,804,722	e	UniCredit S.p.A.		48,874
	118,783	*	Union Bank of India		164
	117,356		Union Bankshares Corp		3,794
	5,280	e	Union Bankshares, Inc		239
	329,700		United Bank Ltd		327
	126,189		United Bankshares, Inc		4,573
	332,066		United Community Banks, Inc		8,278
	124,757		United Community Financial Corp		1,166
	111,162		United Financial Bancorp, Inc (New)		1,595
	1,887,714		United Overseas Bank Ltd		35,220
	21,630		United Security Bancshares		229
	10,182		Unity Bancorp, Inc		192
	100,780		Univest Corp of Pennsylvania		2,465
	4,979,300		US Bancorp		239,952
	13,521		Valiant Holding		1,555
	397,345		Valley National Bancorp		3,807
	341,597		Van Lanschot Kempen NV (ADR)		7,759
	134,194		Veritex Holdings, Inc		3,250
	113,364	*	Vijaya Bank		210
	108,402		VTB Bank		124
	4,215,097		VTB Bank OJSC (GDR)		4,814
	167,568		Walker & Dunlop, Inc		8,531
	98,361		Washington Federal, Inc		2,842
	24,669		Washington Trust Bancorp, Inc		1,188
	59,175		Waterstone Financial, Inc		974
	36,122		Webster Financial Corp		1,830
	13,754,838		Wells Fargo & Co		664,634
	62,528		WesBanco, Inc		2,485
	24,053		West Bancorporation, Inc		497
	32,255		Westamerica Bancorporation		1,993
	485,766	*	Western Alliance Bancorp		19,936
	31,904		Western New England Bancorp, Inc		294
	3,291,480		Westpac Banking Corp		60,673
	247,637		Wintrust Financial Corp		16,673
	544,860		Woori Financial Group, Inc		6,600
	281,087		WSFS Financial Corp		10,850
	12,600		Yamagata Bank Ltd		224
	69,192		Yamaguchi Financial Group, Inc		587
	14,800		Yamanashi Chuo Bank Ltd		184
	15,327,445		Yes Bank Ltd		60,743
	2,070,294		Zions Bancorporation		94,013
			TOTAL BANKS		8,035,126
CAPITAL GOODS - 7.5%
	1,034,830		3M Co		215,017
	278,730		A.O. Smith Corp		14,862
	79,754		Aalberts Industries NV		2,761
	49,770		Aaon, Inc		2,298
	55,338		AAR Corp		1,799
	2,124,634		ABB Ltd		39,931
	1,954,067		Aboitiz Equity Ventures, Inc		2,195
	189,000		AcBel Polytech, Inc		128
	318,021		ACS Actividades Construccion y Servicios S.A.		13,981

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	76,290		Actuant Corp (Class A)	$	1,859
	19,891		Acuity Brands, Inc		2,387
	546,088		Adani Enterprises Ltd		1,155
	996,500		Advan Co Ltd		9,185
	215,350		Advanced Drainage Systems, Inc		5,550
	58,300		AECC Aviation Power Co Ltd		229
	327,485	*	Aecom Technology Corp		9,716
	106,935		Aecon Group, Inc		1,396
	50,696	*	Aegion Corp		891
	186,637	*	AerCap Holdings NV		8,686
	88,755	*	Aerojet Rocketdyne Holdings, Inc		3,153
	25,554	*	Aerovironment, Inc		1,748
	26,265	*,e	AFG Arbonia-Forster Hldg		271
	24,218		AG Growth International Inc		1,128
	40,168		AGCO Corp		2,794
	48,629		AIA Engineering Ltd		1,260
	28,799		Aica Kogyo Co Ltd		963
	16,400		Aichi Corp		104
	24,800		Aida Engineering Ltd		179
	182,455		Air Lease Corp		6,267
	1,243,090		Airbus SE		164,754
	198,254		Aircastle Ltd		4,013
	105,000		Airtac International Group		1,365
	11,743		Alamo Group, Inc		1,174
	184,635		Albany International Corp (Class A)		13,218
	209,656		Alfa Laval AB		4,818
	5,181,014	e	Alfa S.A. de C.V. (Class A)		5,507
	29,957	e,g	Alimak Group AB		427
	255,906		Allegion plc		23,213
	22,428,883		Alliance Global Group, Inc		6,907
	27,248		Allied Motion Technologies, Inc		937
	641,328		Allison Transmission Holdings, Inc		28,808
	23,933		Alstom Projects India Ltd		280
	132,322		Alstom RGPT		5,738
	70,653		Alstom T&D India Ltd		281
	206,384		Altra Holdings, Inc		6,408
	202,024		Amada Co Ltd		2,005
	25,611	*	Ameresco, Inc		414
	17,790	*	American Woodmark Corp		1,470
	238,625		Ametek, Inc		19,799
	4,816	*	Andritz AG.		207
	14,200		Anest Iwata Corp		125
	35,027		Apogee Enterprises, Inc		1,313
	205,034		Applied Industrial Technologies, Inc		12,193
	11,653	*	Aprogen KIC, Inc		28
	436,699		Arabtec Holding Co		254
	41,570		Arcadis NV		647
	1,214,616		Arconic, Inc		23,211
	187,116		Arcosa, Inc		5,716
	19,247		Argan, Inc		961
	294,872	*	Armstrong Flooring, Inc		4,010
	103,410		Armstrong World Industries, Inc		8,213
	23,300		Asahi Diamond Industrial Co Ltd		161

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	195,706		Asahi Glass Co Ltd	$	6,874
	286,208		Aselsan Elektronik Sanayi Ve Ticaret AS		1,095
	772,544		Ashok Leyland Ltd		1,017
	40,954		Ashoka Buildcon Ltd		75
	1,861,343		Ashtead Group plc		44,997
	1,787,985		Assa Abloy AB		38,589
	57,699		Astec Industries, Inc		2,179
	55,128		Astral Polytechnik Ltd		924
	25,073	*	Astronics Corp		820
	829,516		Asunaro Aoki Construction Co Ltd		7,343
	611,470	*	Atkore International Group, Inc		13,165
	70,157		Atlas Copco AB (A Shares)		1,887
	24,639	e	Atlas Copco AB (B Shares)		611
	98,256	*	ATS Automation Tooling Systems, Inc		1,444
	7,098	g	Aumann AG.		224
	1,803,008		Austal Ltd		2,883
	83,900		AVIC Aircraft Co Ltd		213
	12,400	*	AVIC Shenyang Aircraft Co Ltd		60
	1,824,019		AviChina Industry & Technology Co		1,166
	87,346	*	Axon Enterprise, Inc		4,752
	219,257		AZZ, Inc		8,974
	48,831	e	Badger Daylighting Ltd		1,484
	4,016,146		BAE Systems plc		25,245
	641,620		Balfour Beatty plc		2,192
	211,259	*,e	Ballard Power Systems, Inc		640
	72,100		Bando Chemical Industries Ltd		693
	100,000	*	Baoye Group Co Ltd		64
	243,770		Barloworld Ltd		2,159
	190,608		Barnes Group, Inc		9,799
	7,813		BayWa AG.		223
	84,195	*	Beacon Roofing Supply, Inc		2,708
	183,000	g	Beijing Urban Construction Design & Development Group Co Ltd		75
	1,156,837	*	Berjaya Corp BHD		77
	667,000		BES Engineering Corp		175
	201,088		Besalco S.A.		186
	16,306		BGF Co Ltd		118
	6,113,936		Bharat Electronics Ltd		8,227
	269,391		Bidvest Group Ltd		3,628
	26,185		Biesse S.p.A.		570
	2,101,656		Bizlink Holdings Inc		14,469
	19,697	*,e	Blue Bird Corp		333
	13,935		Blue Star Ltd		136
	13,019	*,e	BlueLinx Holdings, Inc		347
	304,245	*	BMC Stock Holdings, Inc		5,376
	4,743		Bobst Group AG.		287
	228,500	g	BOC Aviation Ltd		1,865
	199,433		Bodycote plc		2,140
	1,529,468		Boeing Co		583,370
	2,030,587	*	Bombardier, Inc		3,905
	52,804		Boskalis Westminster		1,367
	6,124		Bossard Holding AG.		942
	264,699		Bouygues S.A.		9,463
	24,679		Brenntag AG.		1,269

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	55,745		Briggs & Stratton Corp	$	659
	340,000		Brighton-Best International Taiwan, Inc		394
	7,159		Bucher Industries AG.		2,396
	22,264		Budimex S.A.		858
	17,842		Bufab AB		188
	272,180	*	Builders FirstSource, Inc		3,631
	268,500		Bunka Shutter Co Ltd		1,949
	357,310		Bunzl plc		11,793
	21,413		Burckhardt Compression Holding AG.		5,830
	2,880		Burkhalter Holding AG.		200
	62,584	e	BWX Technologies, Inc		3,103
	255,676		CAE, Inc		5,665
	41,296	e	Caesarstone Sdot-Yam Ltd		645
	24,141	*	CAI International, Inc		560
	23,527		Carbone Lorraine		760
	23,441		Carborundum Universal Ltd		139
	27,294	e	Cargotec Corp (B Shares)		1,007
	57,250		Carlisle Cos, Inc		7,020
	1,357,172		Caterpillar, Inc		183,883
	155,800		Central Glass Co Ltd		3,431
	2,492		Cera Sanitaryware Ltd		111
	151,725		CH Karnchang PCL		120
	39,367	*	Chart Industries, Inc		3,564
	229,324		Cheil Industries, Inc		21,654
	163,687		Chemring Group plc		296
	414,844		Chicony Power Technology Co Ltd		769
	1,040,000		China Aircraft Leasing Group Holdings Ltd		1,221
	48,700		China Avionics Systems Co Ltd		121
	68,000		China Communications Construction Co Ltd		126
	3,739,192		China Communications Construction Co Ltd (Hong Kong)		3,875
	1,666,500		China Conch Venture Holdings Ltd		5,968
	228,375		China Fangda Group Co Ltd		125
	93,100		China Gezhouba Group Co Ltd		100
	259,000	e	China High Speed Transmission Equipment Group Co Ltd		226
	73,600		China International Marine Containers Group Co Ltd		163
	175,500		China National Chemical Engineering Co Ltd		169
	6,449,943		China Railway Construction Corp		8,466
	145,600		China Railway Construction Corp Ltd		249
	3,378,127		China Railway Group Ltd		3,084
	82,600		China Shipbuilding Industry Co Ltd		72
	188,080		China Singyes Solar Technologies Holdings Ltd		24
	28,700		China Spacesat Co Ltd		107
	703,260		China State Construction Engineering Corp Ltd		639
	1,622,685		China State Construction International Holdings Ltd		1,523
	112,568		China Yuchai International Ltd		1,784
	121,900	e	Chiyoda Corp		291
	15,400		Chiyoda Integre Co Ltd		286
	16,900		Chudenko Corp		345
	615,375		Chung Hsin Electric & Machinery Manufacturing Corp		413
	421,075		CIMIC Group Ltd		14,464

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,428	*	CIRCOR International, Inc	$	633
	9,285,796		Citic Pacific Ltd		13,882
	1,671,000		Citic Resources Holdings Ltd		156
	11,091		CJ Corp		1,218
	1,833	*	CJ Corp (Preference)		59
	3,745,928		CK Hutchison Holdings Ltd		39,390
	34,400		CKD Corp		312
	5,601,782		CNH Industrial NV		57,075
	4,999,841	e	CNH Industrial NV (NYSE)		50,998
	1,403,740	*	Cobham plc		2,019
	17,099	g	Cochin Shipyard Ltd		97
	337,285	*	Colfax Corp		10,011
	86,820		Columbus McKinnon Corp		2,982
	329,907		Comfort Systems USA, Inc		17,284
	45,700	*	Commercial Vehicle Group, Inc		351
	1,477,631		Compagnie de Saint-Gobain		53,577
	16,242		Compagnie d’Entreprises CFE		1,511
	180,500		COMSYS Holdings Corp		4,931
	61,438		Construcciones y Auxiliar de Ferrocarriles S.A.		2,954
	46,105	*	Continental Building Products Inc		1,143
	1,535,450		Continental Engineering Corp		788
	2,985		Conzzeta AG.		2,339
	606,200	*,e	Cosco Corp Singapore Ltd		150
	9,185	e	Cosel Co Ltd		97
	240,914		Costain Group plc		1,051
	127,975	e	Cramo Oyj (Series B)		2,517
	25,567		Crane Co		2,163
	192,522	*	Crompton Greaves Ltd		119
	3,574,321		CRRC Corp Ltd		3,372
	178,300		CRRC Corp Ltd (Class A)		241
	2,882		CS Wind Corp		97
	120,746	*	CSBC Corp Taiwan		111
	37,270	*	CSW Industrials, Inc		2,135
	1,902,000		CTCI Corp		2,964
	37,664		Cubic Corp		2,118
	74,386		Cummins, Inc		11,743
	138,798		Curtiss-Wright Corp		15,731
	25,519		Daelim Industrial Co		2,167
	4,435		Daetwyler Holding AG.		656
	143,951	*	Daewoo Engineering & Construction Co Ltd		645
	41,776		Daewoo International Corp		655
	27,229	*	Daewoo Shipbuilding & Marine Engineering Co Ltd		672
	27,500		Dai-Dan Co Ltd		639
	138,293	e	Daifuku Co Ltd		7,234
	9,628	e	Daihen Corp		248
	26,900		Daiho Corp		788
	23,500		Daiichi Jitsugyo Co Ltd		680
	215,450		Daikin Industries Ltd		25,325
	16,800		Daiwa Industries Ltd		172
	6,108		Danieli & Co S.p.A.		122
	21,030		Danieli & Co S.p.A. (RSP)		304
	3,226		Dassault Aviation S.A.		4,759
	91,100		DCC plc		7,882
	1,421,835		Deere & Co		227,266

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,900		Denyo Co Ltd	$	98
	589,755		Deutz AG.		4,948
	72,176	g	Dilip Buildcon Ltd		669
	310,728		Diploma plc		5,908
	111,094	*,e	DIRTT Environmental Solutions		707
	16,833		DMC Global, Inc		836
	4,132,480		DMCI Holdings, Inc		944
	18,184		DMG Mori AG.		880
	4,616,925	*	Dogan Sirketler Grubu Holdings		947
	67,139		Donaldson Co, Inc		3,361
	37,840		Doosan Bobcat, Inc		1,031
	42,413	*,e	Doosan Heavy Industries and Construction Co Ltd		251
	117,188	*,e	Doosan Infracore Co Ltd		729
	27,462		Douglas Dynamics, Inc		1,045
	779,778		Dover Corp		73,143
	392,953	*,†	Drake & Scull International PJSC		30
	190,575	*,e	Drone Delivery Canada Corp		165
	1,296,794		Dubai Investments PJSC		484
	48,798	*	Ducommun, Inc		2,124
	46,119		Duerr AG.		1,811
	65,824	*	DXP Enterprises, Inc		2,562
	37,201	*	Dycom Industries, Inc		1,709
	658,300		Dynasty Ceramic PCL		45
	7,585		Eastern Co		209
	1,704,633		Eaton Corp		137,325
	54,865		Ebara Corp		1,553
	12,135		Eicher Motors Ltd		3,598
	67,047		Eiffage S.A.		6,445
	18,571		Elbit Systems Ltd		2,406
	22,857		Elco Holdings Ltd		431
	1,225		Electra Israel Ltd		311
	787,785		ElSwedy Cables Holding Co		707
	73,149	*,e,g	Eltel AB		136
	354,452		EMCOR Group, Inc		25,903
	2,101,625	*	Emeco Holdings Ltd		2,887
	506,883		Emerson Electric Co		34,706
	904,126		Empresa Brasileira de Aeronautica S.A.		4,260
	73,633		Encore Wire Corp		4,213
	29,978	*,e	Energous Corp		190
	53,701	*,e	Energy Recovery, Inc		469
	67,760		EnerSys		4,415
	72,524		Engineers India Ltd		123
	100,234	*,e	Enphase Energy, Inc		925
	33,338		EnPro Industries, Inc		2,149
	418,000		Enric Energy Equipment Holdings Ltd		430
	406,320	*	Epiroc AB		3,893
	193,394	*	Epiroc AB (Class A)		1,953
	66,895		ESCO Technologies, Inc		4,484
	158,315		Escorts Ltd		1,819
	5,200	e	EVI Industries, Inc		198
	93,716	*,e	Evoqua Water Technologies Corp		1,179
	33,333		Exco Technologies Ltd		236
	11,264	e	FACC AG.		164

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	474,412		Famur S.A.	$	576
	18,700		Fangda Carbon New Material Co Ltd		63
	74,277		Fanuc Ltd		12,702
	2,909,517		Far Eastern Textile Co Ltd		2,880
	539,023		Fastenal Co		34,665
	614,038		Federal Signal Corp		15,959
	21,024		Feelux Co Ltd		165
	1,046	e	Feintool International Holding AG.		71
	94,256		Ferguson plc		6,003
	559,590		Ferrovial S.A.		13,113
	3,974	*,e	FIGEAC-AERO		54
	281,163	e	Fincantieri S.p.A		346
	252,152		Finmeccanica S.p.A.		2,937
	175,078		Finning International, Inc		3,113
	35,882		Finolex Cables Ltd		246
	264,000	*	First Tractor Co		69
	52,856		Flowserve Corp		2,386
	24,833	e	FLSmidth & Co AS		1,074
	28,121		Fluidra S.A.		323
	259,577		Fluor Corp		9,552
	135,914	*	Fomento de Construcciones y Contratas S.A.		1,775
	889,978		Fortive Corp		74,660
	270,676		Fortune Brands Home & Security, Inc		12,887
	2,520,124	e	Fosun International		4,282
	133,739	*	Foundation Building Materials, Inc		1,316
	56,337		Franklin Electric Co, Inc		2,878
	28,701	*	Freightcar America, Inc		177
	25,630		Fudo Tetra Corp		334
	20,807		Fuji Electric Holdings Co Ltd		592
	368,692		Fuji Machine Manufacturing Co Ltd		4,924
	151,078		Fujikura Ltd		571
	36,400		Fujitec Co Ltd		404
	27,100		Fukuda Corp		1,033
	7,000		Fukushima Industries Corp		225
	6,512,500	e	Fullshare Holdings Ltd		872
	25,700		Furukawa Co Ltd		324
	47,400		Furukawa Electric Co Ltd		1,200
	18,719	e	Futaba Corp/Chiba		285
	77,222		Galliford Try plc		671
	3,387,803		Gamuda BHD		2,397
	78,353	*	Gardner Denver Holdings, Inc		2,179
	86,663	*	Gates Industrial Corp plc		1,243
	46,691		GATX Corp		3,566
	43,478		Gayatri Projects Ltd		101
	726,837		GEA Group AG.		19,050
	3,697		Geberit AG.		1,512
	38,700		Gecoss Corp		362
	183,257	*	GEK Group of Cos S.A.		1,011
	11,755	*	Gencor Industries, Inc		145
	163,004	*	Generac Holdings, Inc		8,351
	478,376		General Dynamics Corp		80,979
	13,255,626		General Electric Co		132,424
	36,202	*	General Finance Corp		338
	15,431		Georg Fischer AG.		14,069

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,191	*	Gibraltar Industries, Inc	$	1,551
	21,100	e	Giken Seisakusho Co, Inc		646
	28,566	e,g	Gima TT S.p.A		229
	277,090		Global Brass & Copper Holdings, Inc		9,543
	30,156		Glory Ltd		725
	622,639	*	GMR Infrastructure Ltd		178
	43,295	*	GMS, Inc		655
	68,196		Godrej Industries Ltd		528
	33,237		Gorman-Rupp Co		1,128
	218,774		Graco, Inc		10,834
	428,540		GrafTech International Ltd		5,481
	382,704		Grafton Group plc		4,038
	12,378		Graham Corp		243
	96,621		Granite Construction, Inc		4,169
	187,064		Graphite India Ltd		1,205
	80,611	*	Great Lakes Dredge & Dock Corp		718
	37,730		Greaves Cotton Ltd		76
	38,763		Greenbrier Cos, Inc		1,249
	137,178		Griffon Corp		2,535
	328,884	e	Grupo Carso S.A. de C.V. (Series A1)		1,293
	87,400	e	Grupo Rotoplas SAB de C.V.		91
	94,056	e	GS Engineering & Construction Corp		3,539
	38,700		GS Yuasa Corp		761
	603,793		Gunkul Engineering PCL		59
	193,604		GWA International Ltd		438
	105,649		H&E Equipment Services, Inc		2,653
	630,813		Haitian International Holdings Ltd		1,437
	22,116		Haldex AB		147
	171,996		Hangzhou Steam Turbine Co		176
	499,971		Han’s Laser Technology Industry Group Co Ltd		3,133
	79,879		Hanwa Co Ltd		2,233
	33,138		Hanwha Corp		890
	604,500		HAP Seng Consolidated BHD		1,466
	338,000	e	Harbin Power Equipment		178
	21,300	e	Harmonic Drive Systems, Inc		734
	349,724		Harris Corp		55,854
	758,877	*	Harsco Corp		15,299
	263,501	*	Havells India Ltd		2,940
	110,800		Hazama Ando Corp		743
	263,000	*,e	HC International, Inc		142
	52,947	*,e	HC2 Holdings, Inc		130
	897,587	*	HD Supply Holdings, Inc		38,910
	18,480	*	HDC Hyundai Development Co-Engineering & Construction		826
	29,114		HEG Ltd		879
	22,207		HEICO Corp		2,107
	333,103		HEICO Corp (Class A)		28,001
	185,866	*	Heidelberger Druckmaschinen		324
	153,299	*	Herc Holdings, Inc		5,976
	97,341		Hexcel Corp		6,732
	6,900		Hibiya Engineering Ltd		118
	280,080		Hillenbrand, Inc		11,632
	902,284		Hino Motors Ltd		7,617

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,400	e	Hirata Corp	$	305
	11,400		Hisaka Works Ltd		95
	33,667	e	Hitachi Construction Machinery Co Ltd		898
	94,400		Hitachi Zosen Corp		291
	157,379		Hiwin Technologies Corp		1,333
	44,251		Hochtief AG.		6,412
	3,657,149		Honeywell International, Inc		581,194
	946,000	e	Hong Kong International Construction Investment Management Group Co Ltd		362
	39,100		Hong Leong Industries BHD		96
	1,193,000		Hopewell Holdings		5,870
	57,100		Hoshizaki Electric Co Ltd		3,545
	26,211		Hosken Consolidated Investments Ltd		203
	11,800		Hosokawa Micron Corp		529
	1,483,312		Howden Joinery Group plc		9,384
	2,285,000	*,†	Hsin Chong Construction Group Ltd		3
	77,200		Huangshi Dongbei Electrical Appliance Co Ltd		101
	40,581		Hubbell, Inc		4,788
	8,885		Huber & Suhner AG.		642
	48,246		Hudaco Industries Ltd		435
	103,327		Huntington Ingalls		21,409
	8,510		Hurco Cos, Inc		343
	4,857		Hy-Lok Corp		81
	2,333	*	Hyosung Heavy Industries Corp		82
	29,283		Hyster-Yale Materials Handling, Inc		1,826
	6,160		Hyundai Construction Equipment Co Ltd		259
	18,838		Hyundai Development Co		315
	5,281	*	Hyundai Electric & Energy System Co Ltd		116
	7,836		Hyundai Elevator Co Ltd		619
	68,984		Hyundai Engineering & Construction Co Ltd		3,252
	27,926	*	Hyundai Heavy Industries		2,934
	13,643		Hyundai Mipo Dockyard		708
	7,308	*	Hyundai Robotics Co Ltd		2,146
	15,570	*	Hyundai Rotem Co Ltd		320
	28,900	e	Idec Corp		500
	82,180		IDEX Corp		12,470
	10,614	*	IES Holdings, Inc		189
	2,636,412		IJM Corp BHD		1,437
	111,253		Illinois Tool Works, Inc		15,968
	194,995		IMI plc		2,435
	10,587		Implenia AG.		316
	125,749	e	Impregilo S.p.A.		293
	30,556		IMS-Intl Metal Service		510
	48,600		Inaba Denki Sangyo Co Ltd		1,884
	23,600		Inabata & Co Ltd		322
	10,702		Indus Holding AG.		516
	9,878	e	Industria Macchine Automatiche S.p.A.		739
	162,340	*	Industries Qatar QSC		5,534
	196,850		Indutrade AB		5,609
	24,784	*	Infrastructure and Energy Alternatives, Inc		130
	1,769,306		Ingersoll-Rand plc		190,997
	36,600		Insteel Industries, Inc		766
	54,112		Interpump Group S.p.A.		1,767
	923		Interroll Holding AG.		1,873

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	87,459		Invicta Holdings Ltd	$	168
	41,460		Inwido AB		246
	69,100		Iochpe-Maxion S.A.		379
	415,950		IRB Infrastructure Developers Ltd		870
	86,276		IS Dongseo Co Ltd		2,390
	7,900		Iseki & Co Ltd		117
	40,810		ISGEC Heavy Engineering Ltd		356
	2,351,211		Ishikawajima-Harima Heavy Industries Co Ltd		56,642
	1,113,750	*	Italian-Thai Development PCL		77
	12,884		Italmobiliare S.p.A		293
	1,877,877		Itochu Corp		34,034
	881,752		ITT, Inc		51,142
	200,200	e	Iwatani International Corp		6,432
	233,228		Jacobs Engineering Group, Inc		17,536
	1,240,889		Jain Irrigation Systems Ltd		1,056
	5,800	e	Jamco Corp		122
	24,360		Japan Pulp & Paper Co Ltd		914
	40,100		Japan Steel Works Ltd		742
	265,605		Jardine Matheson Holdings Ltd		16,582
	258,888		Jardine Strategic Holdings Ltd		9,711
	260,878	*	JELD-WEN Holding, Inc		4,607
	3,655,317		JG Summit Holdings (Series B)		4,422
	732,253		JGC Corp		9,764
	38,615		John Bean Technologies Corp		3,548
	1,294,041	g	John Laing Group plc		6,424
	654,606		Johnson Controls International plc		24,181
	262,875		Johnson Electric Holdings Ltd		610
	9,986	g	JOST Werke AG.		343
	991,876		JTEKT Corp		12,248
	28,079		Jungheinrich AG.		914
	1,783		Kaba Holding AG.		1,278
	55,226		Kadant, Inc		4,858
	65,308		Kajaria Ceramics Ltd		556
	456,510		Kajima Corp		6,753
	18,993		Kalpataru Power Transmission Ltd		129
	150,300	*	Kama Co Ltd		96
	32,361		Kaman Corp		1,891
	24,800		Kamei Corp		265
	76,100		Kanamoto Co Ltd		1,888
	467,200		Kandenko Co Ltd		3,999
	446,700		Kanematsu Corp		5,121
	1,420,562		KAP Industrial Holdings Ltd		694
	20,884		Kardex AG.		3,148
	12,100		Katakura Industries Co Ltd		138
	44,144		Kawasaki Heavy Industries Ltd		1,092
	192,160		KBR, Inc		3,668
	12,074		KCC Corp		3,392
	141,193		KEC International Ltd		611
	21,259		KEI Industries Ltd		131
	117,279		Keihan Electric Railway Co Ltd		4,937
	50,682		Keller Group plc		407
	8,008		Kendrion NV		177
	256,655		Kennametal, Inc		9,432

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,546		KEPCO Engineering & Construction Co, Inc	$	158
	1,407,070		Keppel Corp Ltd		6,474
	253,800		Kerjaya Prospek Group BHD		77
	66,991	*,e	KEYW Holding Corp, The		577
	266,147	e	Kier Group plc		1,261
	400,400		Kinden Corp		6,644
	31,000		King Slide Works Co Ltd		346
	14,272		Kingspan Group plc		661
	56,176		KION Group AG.		2,940
	37,500		Kitz Corp		275
	94,594		Kloeckner & Co AG.		696
	1,351,424		KOC Holding AS		3,914
	9,736		Koenig & Bauer AG.		408
	2,834		Kolon Corp		84
	390,588		Komatsu Ltd		9,110
	2,119		Komax Holding AG.		446
	27,290		Komori Corp		309
	50,052		Kone Oyj (Class B)		2,528
	37,960	e	Konecranes Oyj		1,352
	49,704		Kongsberg Gruppen ASA		757
	133,520		Koninklijke BAM Groep NV		577
	121,725		Koninklijke Volkerwessels NV		2,510
	66,247	*	Korea Aerospace Industries Ltd		2,068
	2,851		Korea Electric Terminal Co Ltd		154
	20,614	*,e	Kornit Digital Ltd		491
	104,992	*	Kratos Defense & Security Solutions, Inc		1,641
	10,010		Krones AG.		883
	492,267		Kubota Corp		7,155
	57,400		Kumagai Gumi Co Ltd		1,798
	137,067		Kumho Industrial Co Ltd		1,157
	182,000		Kung Long Batteries Industrial Co Ltd		990
	29,288		Kurita Water Industries Ltd		750
	35,600		Kyokuto Kaihatsu Kogyo Co Ltd		477
	765,200		Kyowa Exeo Corp		21,169
	30,600		Kyudenko Corp		961
	2,773		Kyung Dong Navien Co Ltd		138
	341,770		L3 Technologies, Inc		70,531
	1,442		Lakshmi Machine Works Ltd		127
	671,460		Larsen & Toubro Ltd		13,432
	7,694	*	Lawson Products, Inc		241
	13,099	*	LB Foster Co (Class A)		247
	30,187		Legrand S.A.		2,021
	15,713	e	Lehto Group Oyj		75
	85,197		Lennox International, Inc		22,526
	207,505		LG Corp		14,175
	3,203		LG Hausys Ltd		171
	16,952		LG International Corp		240
	5,167		LIG Nex1 Co Ltd		179
	25,525		Lincoln Electric Holdings, Inc		2,141
	289,459		Lindab International AB		2,638
	12,736		Lindsay Corp		1,233
	10,269		LISI		316
	120,736		LIXIL Group Corp		1,614
	512,544		Lockheed Martin Corp		153,845

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,010,000		Lonking Holdings Ltd	$	2,276
	45,799	*	Lotte Corp		1,996
	96,853		LS Cable Ltd		4,472
	7,819		LS Industrial Systems Co Ltd		328
	103,750		Luxshare Precision Industry Co Ltd		381
	36,455	*	Lydall, Inc		855
	28,181		Mabuchi Motor Co Ltd		983
	836,300		Maeda Corp		8,318
	10,900	*	Maeda Kosen Co Ltd		241
	274,900		Maeda Road Construction Co Ltd		5,346
	19,117		Magellan Aerospace Corp		254
	1,180,814	e	Maire Tecnimont S.p.A		4,504
	200,149		Makino Milling Machine Co Ltd		8,287
	76,861		Makita Corp		2,686
	842,200		Malaysian Resources Corp BHD		183
	11,253		MAN AG.		924
	20,414	*	Manitex International, Inc		156
	36,456		Manitou BF S.A.		1,020
	1,383,338	*	Manitowoc Co, Inc		22,701
	269,200		Marcopolo S.A.		268
	3,030,343		Marubeni Corp		21,011
	1,307,864		Masco Corp		51,412
	121,532	*	Masonite International Corp		6,063
	79,701	*	Mastec, Inc		3,834
	13,300		Max Co Ltd		196
	79,985	e	Maxar Technologies Inc (Toronto)		323
	79,605	e	Maxar Technologies, Inc		320
	1,326		MBB SE		125
	384,900		Megawide Construction Corp		158
	1,262,866		Meggitt plc		8,279
	24,000		Meidensha Corp		330
	3,836,271		Melrose Industries plc		9,163
	64,429	*	Mercury Systems, Inc		4,129
	434,305	*	Meritor, Inc		8,838
	34,100		Metallurgical Corp of China Ltd		18
	3,437,000		Metallurgical Corp of China Ltd (Hong Kong)		1,018
	7,200		METAWATER Co Ltd		203
	126,650		Metso Oyj		4,367
	204,809		Micron Machinery Co Ltd		2,398
	150,985	*	Middleby Corp		19,633
	35,000		Mie Kotsu Group Holdings, Inc		178
	522,498	*	Milacron Holdings Corp		5,915
	62,120		Millat Tractors Ltd		395
	18,049		Miller Industries, Inc		557
	634,200	*	Mills Estruturas e Servicos de		777
	355,500		Minebea Co Ltd		5,366
	1,896,000	e	Miraito Holdings Corp		27,733
	257,764	e	MISUMI Group, Inc		6,436
	1,901,113		Mitsubishi Corp		52,929
	795,432		Mitsubishi Electric Corp		10,263
	170,752		Mitsubishi Heavy Industries Ltd		7,106
	27,500		Mitsubishi Nichiyu Forklift Co Ltd		301
	11,650		Mitsuboshi Belting Co Ltd		208

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,470,054		Mitsui & Co Ltd	$	38,435
	42,700	*,e	Mitsui Engineering & Shipbuilding Co Ltd		404
	52,700		Miura Co Ltd		1,218
	1,158,984		MMC Corp BHD		282
	62,410		Monadelphous Group Ltd		770
	773,400		MonotaRO Co Ltd		17,289
	117,610		Moog, Inc (Class A)		10,226
	672,188		Morgan Crucible Co plc		2,127
	76,589		Morgan Sindall plc		1,251
	120,000		Mori Seiki Co Ltd		1,492
	15,800		Morita Holdings Corp		260
	370,221	e	Mota Engil SGPS S.A.		848
	268,396	*	MRC Global, Inc		4,692
	90,404		MSC Industrial Direct Co (Class A)		7,477
	107,083		MTU Aero Engines Holding AG.		24,272
	69,390		Mueller Industries, Inc		2,175
	628,509		Mueller Water Products, Inc (Class A)		6,310
	67,900		Muhibbah Engineering M BHD		49
	39,709	e,g	Munters Group AB		179
	210,575		Murray & Roberts Holdings Ltd		208
	99,526	*	MYR Group, Inc		3,447
	85,023		Nabtesco Corp		2,492
	9,033		Nachi-Fujikoshi Corp		365
	1,169,797		Nagarjuna Construction Co		1,906
	287,900		Nagase & Co Ltd		4,145
	21,400	e	Namura Shipbuilding Co Ltd		70
	121,100		NARI Technology Co Ltd		380
	147,512		National Central Cooling Co PJSC		64
	5,721		National Presto Industries, Inc		621
	60,476	*	Navistar International Corp		1,953
	225,086		NBCC India Ltd		215
	50,975	e	NCC AB (B Shares)		784
	274,564	*	NCI Building Systems, Inc		1,691
	15,447		Nexans S.A.		460
	77,578		NFI Group, Inc		1,901
	66,951		NGK Insulators Ltd		975
	213,913		Nibe Industrier AB		2,742
	40,200		Nichias Corp		798
	21,200		Nichiden Corp		302
	18,200		Nichiha Corp		503
	87,625		Nidec Corp		11,158
	3,800		Nihon Trim Co Ltd		199
	15,060	*	Nilfisk Holding A.S.		596
	57,400		Nippo Corp		1,072
	10,900	e	Nippon Carbon Co Ltd		486
	19,700		Nippon Densetsu Kogyo Co Ltd		411
	4,700		Nippon Koei Co Ltd		100
	3,300		Nippon Road Co Ltd		194
	1,872	*,e	Nippon Sharyo Ltd		43
	924,500	e	Nippon Sheet Glass Co Ltd		7,475
	79,217		Nippon Steel Trading Co Ltd		3,227
	26,600		Nippon Thompson Co Ltd		123
	57,100		Nishimatsu Construction Co Ltd		1,269

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	54,600		Nishio Rent All Co Ltd	$	1,576
	4,600	e	Nissei ASB Machine Co Ltd		158
	89,028		Nisshinbo Industries, Inc		779
	62,200		Nissin Electric Co Ltd		571
	12,000		Nitta Corp		391
	12,000		Nitto Boseki Co Ltd		215
	13,500		Nitto Kogyo Corp		271
	4,873		Nitto Kohki Co Ltd		96
	5,800	e	Nittoku Engineering Co Ltd		147
	18,468	*,e	NKT Holding AS		327
	62,970		NN, Inc		472
	2,400	*,†,e	Noble Group Ltd		0	^
	32,672		Nolato AB (B Shares)		1,360
	34,391	*	Nordex AG.		564
	113,944		Nordson Corp		15,100
	63,191		Noritake Co Ltd		3,035
	15,800		Noritz Corp		247
	27,025		NORMA Group		1,313
	601,514		Northrop Grumman Corp		162,168
	12,910	*	Northwest Pipe Co		310
	153,528	*	NOW, Inc		2,143
	2,383,324		NRW Holdings Ltd		4,037
	1,337,817		NSK Ltd		12,578
	234,000	e	NTN Corp		696
	11,153	*	NV5 Holdings, Inc		662
	244,514		nVent Electric plc		6,597
	1,586,423		NWS Holdings Ltd		3,473
	9,900		Obara Corp		329
	497,992		Obayashi Corp		5,019
	120,326	e	Obrascon Huarte Lain S.A.		152
	178,776		OC Oerlikon Corp AG.		2,290
	4,110		OHB AG.		166
	35,700		Oiles Corp		571
	19,300		Okabe Co Ltd		167
	16,428	e	Okuma Holdings, Inc		893
	23,300		Okumura Corp		741
	4,090		Omega Flex, Inc		310
	68,733	*,e	Opus Global Rt		107
	126		Orascom Construction Ltd		0	^
	23,200		Organo Corp		658
	193,336	*	Orion Marine Group, Inc		565
	51,300		OSG Corp		992
	113,711		Oshkosh Truck Corp		8,543
	61,900		OSJB Holdings Corp		155
	246,362	e	Osram Licht AG.		8,487
	4,585		Otokar Otobus Karoseri Sanayi AS		87
	99,992	*	Outotec Oyj		439
	1,391,017		Owens Corning, Inc		65,545
	155,373		PACCAR, Inc		10,587
	11,029		Palfinger AG.		309
	979,108		Parker-Hannifin Corp		168,035
	29,002	*	Patrick Industries, Inc		1,314
	671,142		Peab AB (Series B)		5,808

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	140,919		Pentair plc	$	6,272
	1,034,400		Penta-Ocean Construction Co Ltd		4,804
	51,083		PER Aarsleff A.S.		1,692
	8,039		Pfeiffer Vacuum Technology AG.		1,230
	301,284	*	PGT, Inc		4,173
	103,373	g	Philips Lighting NV		2,766
	8,293	e	Pinguely-Haulotte		68
	273,169	*,e	Plug Power, Inc		656
	38,019		PNC Infratech Ltd		84
	117,089		Polypipe Group plc		615
	1,792,600		Polyplex PCL (Foreign)		881
	21,061	e	Ponsse Oyj		689
	18,244	e	Porr AG.		408
	12,964		Powell Industries, Inc		344
	65,200		Power Construction Corp of China Ltd		56
	4,291		Preformed Line Products Co		228
	125,418		Primoris Services Corp		2,594
	33,952	*	Proto Labs, Inc		3,570
	18,876		Prysmian S.p.A.		358
	5,445,532		PT Adhi Karya Persero Tbk		630
	2,263,000		PT AKR Corporindo Tbk		751
	2,803,600	*,†	PT Inovisi Infracom Tbk		0	^
	3,777,688		PT Pembangunan Perumahan Tbk		554
	2,721,300	*	PT Sitara Propertindo Tbk		143
	11,598,500		PT Waskita Karya Persero Tbk		1,621
	9,536,823		PT Wijaya Karya		1,451
	38,630		Qatar Industrial Manufacturing Co		415
	1,869,665		QinetiQ plc		7,342
	27,000		QST International Corp		71
	56,373		Quanex Building Products Corp		896
	319,531		Quanta Services, Inc		12,059
	84,500		Raito Kogyo Co Ltd		1,142
	281,666		Ramirent Oyj		1,735
	167,113		Randon Participacoes S.A.		414
	2,033		Rational AG.		1,256
	52,728		Raven Industries, Inc		2,023
	724,574		Raytheon Co		131,930
	29,402	*	RBC Bearings, Inc		3,739
	164,597	†	RCR Tomlinson Ltd		1
	147,797		Rechi Precision Co Ltd		121
	84,492		Regal-Beloit Corp		6,917
	644,819	e	Reliance Worldwide Corp Ltd		1,978
	209,782	*	Resideo Technologies, Inc		4,047
	644,425		Reunert Ltd		3,171
	38,126	e	REV Group, Inc		417
	115,735		Rexel S.A.		1,306
	130,368	*	Rexnord Corp		3,277
	57,164		Rheinmetall AG.		5,968
	8,800		Rheon Automatic Machinery Co Ltd		126
	70,854		Richelieu Hardware Ltd		1,256
	1,780	e	Rieter Holding AG.		256
	645,825		Rockwell Automation, Inc		113,316
	51,082		Rockwool International AS (B Shares)		11,979
	1,576,930		Rolls-Royce Group plc		18,571

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	536,271		Roper Industries, Inc	$	183,389
	661,434		Rotork plc		2,439
	66,000		Run Long Construction Co Ltd		149
	11,369		Rush Enterprises, Inc		472
	280,750		Rush Enterprises, Inc (Class A)		11,738
	144,908		Russel Metals, Inc		2,551
	132,600		Ryobi Ltd		2,983
	47,671	e	Saab AB (Class B)		1,529
	593,270	e	Sacyr Vallehermoso S.A.		1,502
	88,366		Sadbhav Engineering Ltd		317
	296,937	*	Safran S.A.		40,698
	157,506		Salfacorp S.A.		214
	120,066	*	Samsung Engineering Co Ltd		1,708
	1,085,364	*	Samsung Heavy Industries Co Ltd		7,914
	50,177	*	Samsung Techwin Co Ltd		1,523
	57,623		San Shing Fastech Corp		98
	1,472,485		Sandvik AB		23,949
	23,900		Sanki Engineering Co Ltd		262
	11,300	*	Sankyo Tateyama, Inc		152
	267,700		Sanwa Shutter Corp		3,193
	513,000		Sany Heavy Equipment International		220
	200,900		Sany Heavy Industry Co Ltd		381
	7,500		Sanyo Denki Co Ltd		270
	34,362		Savaria Corp		391
	5,101		Schaeffler India Ltd		405
	15,078	*	Schindler Holding AG.		3,129
	4,741	*	Schindler Holding AG. (Registered)		982
	1,866,591		Schneider Electric S.A.		146,506
	587		Schweiter Technologies AG.		567
	7,300	*,e	SEC Carbon Ltd		644
	14,900		Sekisui Jushi Corp		263
	975,583	e	SembCorp Industries Ltd		1,840
	525,500	e	SembCorp Marine Ltd		625
	6,788	*,e	Semperit AG. Holding		99
	280,107		Senior plc		797
	351,168	*	Sensata Technologies Holding plc		15,810
	50,467	*,e	Senvion S.A.		74
	72,289	e	Seven Network Ltd		906
	26,311		SFS Group AG.		2,286
	82,984	*	SGL Carbon AG.		734
	150,108	*	SGSB Group Co Ltd		111
	217,280		Shanghai Diesel Engine Co Ltd		138
	15,600		Shanghai Electric Group Co Ltd		14
	2,321,025		Shanghai Electric Group Co Ltd (Hong Kong)		882
	178,200		Shanghai Highly Group Co Ltd		153
	573,508		Shanghai Industrial Holdings Ltd		1,352
	87,500		Shanghai Tunnel Engineering Co Ltd		95
	79,430		Shapir Engineering and Industry Ltd		271
	7,300		Shibuya Kogyo Co Ltd		216
	255,412		Shikun & Binui Ltd		612
	15,000		Shima Seiki Manufacturing Ltd		463
	572,718		Shimizu Corp		4,988
	74,000		Shin Zu Shing Co Ltd		263

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	96,900		Shinko Electric Co Ltd	$	1,188
	29,100		Shinmaywa Industries Ltd		362
	102,500		Shinnihon Corp		910
	11,500		SHO-BOND Holdings Co Ltd		769
	3,798,000	*	Shougang Concord International Enterprises Co Ltd		152
	922,500		Shun TAK Holdings Ltd		367
	919,577		Siemens AG.		98,894
	4,145,996	*,e	Siemens Gamesa Renewable Energy		66,086
	6,968	e	SIF Holding NV		78
	318,390		SIG plc		589
	1,765,060		Sime Darby BHD		965
	63,817		Simpson Manufacturing Co, Inc		3,782
	3,648,000		Singamas Container Holdings Ltd		599
	2,365,056		Singapore Technologies Engineering Ltd		6,540
	10,200		Sinko Industries Ltd		138
	477,857		Sino Thai Engineering & Construction PCL		364
	1,180,500		Sinopec Engineering Group Co Ltd		1,154
	668,000		Sinotruk Hong Kong Ltd		1,426
	112,300		Sintokogio Ltd		970
	48,888	*,e	SiteOne Landscape Supply, Inc		2,794
	27,484		SK C&C Co Ltd		6,560
	1,007,683		SK Networks Co Ltd		5,380
	157,742	e	Skanska AB (B Shares)		2,869
	133,665	e	SKF AB (B Shares)		2,224
	2,493,700		SKP Resources BHD		819
	7,578	*,e	SLM Solutions Group AG.		83
	167,960		SM Investments Corp		2,991
	36,517		SMC Corp		13,765
	61,967		Smiths Group plc		1,160
	112,692		Snap-On, Inc		17,639
	167,654		SNC-Lavalin Group, Inc		4,254
	21,700		Sodick Co Ltd		182
	5,618,500		Sojitz Holdings Corp		19,852
	29,437	*,e	Solaria Energia y Medio Ambiente S.A.		156
	63,792		Spirax-Sarco Engineering plc		5,978
	163,296		Spirit Aerosystems Holdings, Inc (Class A)		14,946
	180,772	*	SPX Corp		6,289
	334,539	*	SPX FLOW, Inc		10,672
	13,963		Stabilus S.A.		676
	14,802		Standex International Corp		1,086
	448,636		Stanley Black & Decker, Inc		61,091
	44,900		Star Micronics Co Ltd		685
	39,738	*	Ste Industrielle d’Aviation Latecoere S.A.		139
	215,361	*	Sterling Construction Co, Inc		2,696
	10,751		Sulzer AG.		1,049
	1,509,422		Sumitomo Corp		20,927
	11,000		Sumitomo Densetsu Co Ltd		187
	1,057,597		Sumitomo Heavy Industries Ltd		34,372
	1,066,040		Sumitomo Mitsui Construction C		7,437
	35,551		Sun Hydraulics Corp		1,653
	90,000		Sunonwealth Electric Machine Industry Co Ltd		103
	114,108	*,e	Sunrun, Inc		1,604
	1,608,022		Sunway Construction Group BHD		754
	2,444,500	*,†,e	Superb Summit International Group Ltd		3

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	64,400		Suzhou Gold Mantis Construction Decoration Co Ltd	$	113
	1,425,190	*	Suzlon Energy Ltd		127
	59,357		Sweco AB (B Shares)		1,431
	57,100	e	Tadano Ltd		545
	346,835		Taeyoung Engineering & Construction		3,799
	14,700		Taihei Dengyo Kaisha Ltd		312
	13,100		Taikisha Ltd		399
	370,579		Taisei Corp		17,240
	539,670		Taiwan Glass Industrial Corp		241
	115,793	e	Takamatsu Corp		2,503
	23,864		Takara Standard Co Ltd		366
	26,600		Takasago Thermal Engineering Co Ltd		429
	33,600		Takeuchi Manufacturing Co Ltd		594
	38,800		Takuma Co Ltd		464
	49,132	g	Talgo S.A.		318
	18,669	e	Tarkett S.A.		401
	14,900		Tatsuta Electric Wire and Cable Co Ltd		62
	89,700		TBEA Co Ltd		110
	1,001,000		Teco Electric and Machinery Co Ltd		683
	10,500	e	Teikoku Sen-I Co Ltd		260
	552,166		Tekfen Holding AS		2,241
	51,500		Tekken Corp		1,270
	65,406	*	Teledyne Technologies, Inc		15,502
	22,259		Tennant Co		1,382
	2,637,417		Terex Corp		84,740
	35,152	*	Textainer Group Holdings Ltd		339
	1,884,638		Textron, Inc		95,476
	100,689		Thales S.A.		12,064
	33,839		Thermax Ltd		475
	129,718	*	Thermon Group Holdings		3,179
	123,992		THK Co Ltd		3,080
	611,335		Thoresen Thai Agencies PCL		99
	45,835		Timken Co		1,999
	9,862		Timken India Ltd		84
	307,443		Titan International, Inc		1,835
	196,797	*	Titan Machinery, Inc		3,062
	514,000		TK Group Holdings Ltd		323
	33,158		TKH Group NV		1,565
	4,800		Toa Corp/Tokyo		69
	38,400		Tocalo Co Ltd		304
	155,100		Toda Corp		956
	14,700		Toenec Corp		404
	160,700		Tokai Corp		1,336
	553,160		Tokyu Construction Co Ltd		4,154
	55,331		Toro Co		3,809
	125,133		Toromont Industries Ltd		6,391
	420,844		Toshiba Corp		13,414
	10,992		Toshiba Machine Co Ltd		222
	31,300		Toshiba Plant Systems & Services Corp		556
	13,700		Totetsu Kogyo Co Ltd		378
	38,796	e	Toto Ltd		1,650
	431,000		Toyo Construction Co Ltd		1,666

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,899		Toyo Engineering Corp	$	154
	6,200	e	Toyo Tanso Co Ltd		116
	316,715		Toyota Tsusho Corp		10,348
	20,521	*	TPI Composites, Inc		587
	3,099,235		Trakya Cam Sanayi AS		1,851
	172,991		TransDigm Group, Inc		78,536
	1,913,108		Travis Perkins plc		34,162
	166,664		Trelleborg AB (B Shares)		2,584
	91,457		Trencor Ltd		169
	73,622	*	Trex Co, Inc		4,529
	104,689	*	Trimas Corp		3,165
	56,650		Trinity Industries, Inc		1,231
	128,941		Triton International Ltd		4,010
	715,400		Triumph Group, Inc		13,636
	10,048		Troax Group AB		321
	23,200		Trusco Nakayama Corp		643
	23,400	e	Tsubaki Nakashima Co Ltd		421
	78,100		Tsubakimoto Chain Co		2,795
	805,400	e	Tsugami Corp		6,231
	14,700		Tsukishima Kikai Co Ltd		184
	10,000		Tsurumi Manufacturing Co Ltd		179
	549,681		Turk Sise ve Cam Fabrikalari AS		576
	6,584		Turk Traktor ve Ziraat Makineleri AS		36
	43,832	*	Tutor Perini Corp		750
	25,372	*	Twin Disc, Inc		422
	371,300		UEM Edgenta BHD		253
	41,042		Ultra Electronics Holdings		854
	5,000		Union Tool Co		132
	143,200		Unique Engineering & Construction PCL		45
	240,200		United Engineers Ltd		447
	858,800		United Integrated Services Co Ltd		3,029
	242,445	*	United Rentals, Inc		27,699
	901,795		United Technologies Corp		116,232
	195,410	*,h	Univar, Inc		4,330
	290,732		Universal Forest Products, Inc		8,690
	31,432		Uponor Oyj		360
	38,646		USG Corp		1,673
	61,300	e	Ushio, Inc		717
	360,622	e	Valmet Corp		9,137
	42,656		Valmont Industries, Inc		5,550
	11,032	*	Varta AG.		471
	15,316	e,g	VAT Group AG.		1,612
	146,561	*	Vectrus, Inc		3,897
	134,378		Veidekke ASA		1,410
	15,349	*	Veritiv Corp		404
	99,885		Vestas Wind Systems AS		8,419
	131,219		Vesuvius plc		1,015
	57,042		V-Guard Industries Ltd		183
	20,236	*	Vicor Corp		628
	1,183,752		Vinci S.A.		115,181
	59,977	*,e	Vivint Solar, Inc		298
	52,117		Voltas Ltd		473
	31,995		Voltronic Power Technology Corp		627
	1,336,409	e	Volvo AB (B Shares)		20,736

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,236		Vossloh AG.	$	239
	552,202		W.W. Grainger, Inc		166,174
	81,762		Wabash National Corp		1,108
	30,938	*	WABCO Holdings, Inc		4,079
	66,374	e	Wabtec Corp		4,893
	21,574		Wacker Construction Equipment AG.		513
	24,246		Wajax Income Fund		303
	17,900		Wakita & Co Ltd		179
	12,513,000		Walsin Lihwa Corp		7,178
	47,621	e	Wartsila Oyj (B Shares)		770
	6,538		Washtec AG.		499
	64,364		Watsco, Inc		9,218
	128,104		Watts Water Technologies, Inc (Class A)		10,353
	497,761		WCT Berhad		101
	634,533		Weg S.A.		2,917
	4,437,284		Weichai Power Co Ltd		7,122
	187,900		Weichai Power Co Ltd (Class A)		332
	1,314,936		Weir Group plc		26,726
	5,269,137	*	Welbilt, Inc		86,308
	179,177	*	Wesco Aircraft Holdings, Inc		1,575
	491,469	*	WESCO International, Inc		26,053
	3,479	*	Willis Lease Finance Corp		147
	50,025	*,e	Willscot Corp		555
	28,053		Wilson Bayly Holmes-Ovcon Ltd		209
	135,104		Woodward Governor Co		12,820
	144,139		WSP Global, Inc		7,877
	282,600		XCMG Construction Machinery Co Ltd		185
	64,100		Xiamen C & D, Inc		83
	61,800		Xinjiang Goldwind Science & Technology Co Ltd		134
	705,400	e	Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		1,017
	69,112		Xxentria Technology Materials Corp		170
	74,369		Xylem, Inc		5,878
	7,862		Y G-1 Co Ltd		73
	61,000		Yahagi Construction Co Ltd		424
	18,500		YAMABIKO Corp		178
	19,200	e	Yamashin-Filter Corp		123
	39,100		Yamazen Corp		413
	9,171,318		Yangzijiang Shipbuilding		10,184
	52,977		Yazicilar Holding AS		113
	88,037	e	YIT Oyj		510
	20,100		Yokogawa Bridge Holdings Corp		346
	25,300		Yuasa Trading Co Ltd		715
	260,000		Yungtay Engineering Co Ltd		540
	82,100		Yurtec Corp		602
	14,200	e	Yushin Precision Equipment Co Ltd		129
	23,315	*	Yuyang DNU Co Ltd		161
	119,506		Zardoya Otis S.A.		990
	6,926		Zehnder Group AG.		235
	56,700		Zhejiang Chint Electrics Co Ltd		226
	145,400		Zhengzhou Coal Mining Machinery Group Co Ltd		70
	18,500		Zhengzhou Yutong Bus Co Ltd		37
	415,541		Zhuzhou CSR Times Electric Co Ltd		2,460

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	244,600		Zoomlion Heavy Industry Science and Technology Co Ltd	$	163
	14,403	e	Zumtobel AG.		98
			TOTAL CAPITAL GOODS		8,564,381
COMMERCIAL & PROFESSIONAL SERVICES - 1.2%
	20,800	*,e	51job, Inc (ADR)		1,620
	118,157		ABM Industries, Inc		4,295
	206,411	*	Acacia Research (Acacia Technologies)		673
	258,602		ACCO Brands Corp		2,214
	197,013		Adecco S.A.		10,521
	255,582	e	ADT, Inc		1,633
	194,465	*	Advanced Disposal Services, Inc		5,445
	12,600		Aeon Delight Co Ltd		491
	134,371	e	AF AB		2,244
	152,618		Aggreko plc		1,566
	6,388		Akka Technologies S.A.		435
	1,694,111		ALS Ltd		9,155
	8,900		Altech Corp		149
	11,198		Amadeus Fire AG		1,293
	35,627		American Banknote S.A.		175
	92,194		Applus Services S.A.		1,101
	8,527		Assystem		311
	1,044,186		Babcock International Group		6,718
	8,965		Barrett Business Services, Inc		693
	5,800	e	BayCurrent Consulting, Inc		183
	19,800		Bell System24 Holdings, Inc		246
	43,200		Benefit One, Inc		850
	3,252		Bertrandt AG.		231
	9,743		BG Staffing, Inc		213
	134,626	g	Biffa plc		389
	17,600		Bilfinger Berger AG.		614
	279,983	e	Bingo Industries Ltd		305
	303,297		Blue Label Telecoms Ltd		79
	156,598		Brady Corp (Class A)		7,268
	1,456,058		Brambles Ltd		12,172
	445,760	g	Bravida Holding AB		3,932
	32,922	*	BrightView Holdings, Inc		474
	63,027		Brink’s Co		4,753
	12,050	e	Brunel International NV		183
	219,258		Bureau Veritas S.A.		5,144
	948,444	*	Capita Group plc		1,534
	3,782,000	*	Capital Environment Holdings Ltd		94
	91,999	*	Casella Waste Systems, Inc (Class A)		3,271
	54,227	e	Caverion Corp		339
	272,047	*	CBIZ, Inc		5,506
	71,978	*	Ceco Environmental Corp		518
	4,200		Central Security Patrols Co Ltd		185
	2,946		Cewe Color Holding AG.		255
	10,025	*	Charah Solutions, Inc		64
	2,625,451		China Everbright International Ltd		2,674
	286,062	*	Cimpress NV		22,922
	164,132		Cintas Corp		33,173
	128,684	*	Clean Harbors, Inc		9,205

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	71,000		Cleanaway Co Ltd	$	399
	5,389,363		Cleanaway Waste Management Ltd		8,512
	2,132		Compx International, Inc		31
	379,940	*	Copart, Inc		23,021
	87,105	*	CoStar Group, Inc		40,627
	980,000	*	Country Garden Services Holdings Co Ltd		1,830
	146,276		Covanta Holding Corp		2,532
	40,401		CRA International, Inc		2,042
	101,101		Dai Nippon Printing Co Ltd		2,422
	21,500		Daiseki Co Ltd		524
	217,174		De La Rue plc		1,090
	144,547		Deluxe Corp		6,320
	65,315		Derichebourg		266
	728,701		Downer EDI Ltd		3,984
	24,198		Duskin Co Ltd		577
	227,000		Dynagreen Environmental Protection Group Co Ltd		107
	659,469		Edenred		30,033
	27,021	e	Elanders AB		268
	140,790		Elis S.A.		2,264
	20,300	e	en-japan, Inc		593
	31,622		Ennis, Inc		656
	220,778		Equifax, Inc		26,162
	2,564,878		Experian Group Ltd		69,419
	75,803		Exponent, Inc		4,375
	12,431	e	Fila S.p.A		178
	50,693		Forrester Research, Inc		2,451
	12,419	*	Franklin Covey Co		314
	46,845	*	FTI Consulting, Inc		3,599
	62,000		Fullcast Co Ltd		1,326
	21,450		Funai Soken Holdings, Inc		517
	4,642		GL Events		102
	16,665	*	GP Strategies Corp		202
	1,214,000		Greentown Service Group Co Ltd		1,078
	1,302,658		Group 4 Securicor plc		3,117
	6,331		Groupe CRIT		427
	3,763,139		Hays plc		7,363
	91,470	e	Healthcare Services Group		3,018
	195,882		Heidrick & Struggles International, Inc		7,508
	73,305	*	Heritage-Crystal Clean, Inc		2,012
	119,502		Herman Miller, Inc		4,204
	53,965		HNI Corp		1,958
	515,990		HomeServe plc		6,893
	27,661	*	Huron Consulting Group, Inc		1,306
	31,096		ICF International, Inc		2,366
	922,080	*	IHS Markit Ltd		50,143
	57,758	*	Innerworkings, Inc		209
	193,539		Insperity, Inc		23,933
	205,736		Interface, Inc		3,152
	166,154		Intertek Group plc		10,526
	46,748	g	Intertrust NV		882
	379,109	e	Intrum Justitia AB		10,902
	146,631		IPH Ltd		734
	63,000	e	IR Japan Holdings Ltd		1,036

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	139,864		ISS A.S.	$	4,260
	80,600		Itoki Corp		394
	384,850		IWG plc		1,250
	10,000		JAC Recruitment Co Ltd		221
	174,000		Japan Elevator Service Holdings Co Ltd		3,547
	262,492		KAR Auction Services, Inc		13,468
	20,000		KD Holding Corp		123
	82,056		Kelly Services, Inc (Class A)		1,810
	12,161		KEPCO Plant Service & Engineering Co Ltd		373
	193,357		Kforce, Inc		6,791
	185,384		Kimball International, Inc (Class B)		2,621
	209,623		Knoll, Inc		3,964
	52,500		Kokuyo Co Ltd		771
	199,467		Korn/Ferry International		8,932
	19,900	e	Link And Motivation, Inc		145
	212,774		Loomis AB		7,337
	43,387		LSC Communications, Inc		283
	117,241		Manpower, Inc		9,695
	31,862		Matsuda Sangyo Co Ltd		401
	56,964		Matthews International Corp (Class A)		2,105
	108,893		McGrath RentCorp		6,160
	41,389		McMillan Shakespeare Ltd		353
	17,300		Meitec Corp		788
	1,423,254		Michael Page International plc		8,719
	129,889	*	Mistras Group, Inc		1,794
	243,846		Mitie Group		472
	20,744		Mitsubishi Pencil Co Ltd		403
	93,746		Mobile Mini, Inc		3,182
	84,374	e	Morneau Sobeco Income Fund		1,731
	20,500		Moshi Moshi Hotline, Inc		179
	42,106		MSA Safety, Inc		4,354
	16,631		Multi-Color Corp		830
	48,886		Navigant Consulting, Inc		952
	17,125		NICE Information Service Co Ltd		192
	4,300		Nichiban Co Ltd		91
	660,128		Nielsen NV		15,625
	82,100	e	Nihon M&A Center, Inc		2,257
	9,400		Nippon Kanzai Co Ltd		168
	143,200		Nippon Parking Development Co Ltd		223
	10,941	*	NL Industries, Inc		42
	22,800		Nomura Co Ltd		644
	125,400		Okamura Corp		1,317
	101,421	*	On Assignment, Inc		6,439
	62,100	e	Outsourcing, Inc		771
	10,368		Oyo Corp		105
	116,500		Park24 Co Ltd		2,533
	10,500		Pasona Group, Inc		159
	40,200		Pilot Corp		1,632
	224,673		Pitney Bowes, Inc		1,543
	27,200		Prestige International, Inc		343
	169,817		Prosegur Cia de Seguridad S.A.		920
	85,775		Quad Graphics, Inc		1,021
	41,772	*,g	Quess Corp Ltd		450
	76,901	*,e	Raksul, Inc		3,200

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	105,716	e	Randstad Holdings NV	$	5,162
	286,000	*,e	Realord Group Holdings Ltd		183
	1,496,978		Recruit Holdings Co Ltd		42,919
	2,120,102		RELX plc		45,316
	1,357,509		RELX plc (London)		29,050
	1,394,663		Rentokil Initial plc		6,424
	633,641		Republic Services, Inc		50,932
	69,927		Resources Connection, Inc		1,157
	83,754	e	Restore plc		376
	167,813		Ritchie Bros Auctioneers, Inc		5,697
	400,294		Robert Half International, Inc		26,083
	319,382		Rollins, Inc		13,293
	121,702		RPS Group plc		297
	103,554		RR Donnelley & Sons Co		489
	103,149		RWS Holdings plc		648
	14,079		S1 Corp (Korea)		1,247
	15,252		Sato Corp		358
	226,610		Secom Co Ltd		19,434
	351,368		Securitas AB (B Shares)		5,684
	318,776		Seek Ltd		3,977
	971,105	*	Serco Group plc		1,620
	112,450		SG Fleet Group Ltd		176
	4,343		SGS S.A.		10,817
	100,500	*,†	Shanghai Youngsun Investment C		119
	612,847		Shanks Group plc		188
	187,430		SmartGroup Corp Ltd		1,056
	38,200		SMS Co Ltd		692
	26,337		Societe BIC S.A.		2,348
	52,100		Sohgo Security Services Co Ltd		2,272
	108,518	*	SP Plus Corp		3,703
	69,990		SPIE S.A.		1,238
	36,743		Sporton International, Inc		214
	21,699		Staffline Group plc		246
	150,973		Stantec, Inc		3,568
	106,865		Steelcase, Inc (Class A)		1,555
	165,649	*	Stericycle, Inc		9,015
	44,000		Sunny Friend Environmental Technology Co Ltd		345
	4,765		Synergie S.A		149
	58,151		Systemax, Inc		1,317
	165,660		Taiwan Secom Co Ltd		466
	285,020		Taiwan-Sogo Shinkong Security Corp		353
	20,200		Tanseisha Co Ltd		240
	39,357	*,e	Team, Inc		689
	11,385	*	TeamLease Services Ltd		497
	42,700		TechnoPro Holdings, Inc		2,558
	100,029		Teleperformance		17,982
	135,534		Temp Holdings Co Ltd		2,201
	186,543		Tetra Tech, Inc		11,116
	336,566	e	Thomson Reuters Corp		19,914
	144,984		Tomra Systems ASA		4,322
	26,800		Toppan Forms Co Ltd		229
	83,308		Toppan Printing Co Ltd		1,261
	11,600	e	Tosho Printing Co Ltd		107

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	144,873		Transcontinental, Inc	$	1,814
	352,623		TransUnion		23,569
	100,012	*	TriNet Group, Inc		5,975
	50,499	*	TrueBlue, Inc		1,194
	15,100		Trust Tech, Inc		501
	33,300		Tus-Sound Environmental Resources Co Ltd		77
	78,399		Unifirst Corp		12,034
	138,500	e	United Technology Holdings Co Ltd		3,191
	15,611	*	Upwork, Inc		299
	26,791		US Ecology, Inc		1,500
	515,994		Verisk Analytics, Inc		68,627
	24,984		Viad Corp		1,406
	12,026		VSE Corp		380
	48,813	*	WageWorks, Inc		1,843
	433,000		Waste Connections, Inc		38,359
	1,577,167		Waste Management, Inc		163,883
	4,000		WDB Holdings Co Ltd		112
	12,757	*	Willdan Group, Inc		473
	242,574		Wolters Kluwer NV		16,526
	16,800		World Holdings Co Ltd		288
	5,300	e	YAMADA Consulting Group Co Ltd		110
	26,800	e	Yumeshin Holdings Co Ltd		188
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,388,749
CONSUMER DURABLES & APPAREL - 1.9%
	560,000		361 Degrees International Ltd		106
	13,820		Accell Group		384
	44,038		Acushnet Holdings Corp		1,019
	229,991		Adidas-Salomon AG.		55,939
	43,972		Aksa Akrilik Kimya Sanayii		73
	107,500		Alpargatas S.A.		422
	89,548	*	American Outdoor Brands Corp		836
	449,157	*	AmTRAN Technology Co Ltd		172
	916,235		Anta Sports Products Ltd		6,246
	7,976		Aquafil S.p.A		89
	154,703	*	Arcelik AS		470
	33,800		Arezzo Industria e Comercio S.A.		431
	110,075	*	Aritzia, Inc		1,463
	56,921		Arvind Ltd		75
	123,437	e	Asics Corp		1,661
	67,499		Bajaj Electricals Ltd		544
	24,082	*	Bang & Olufsen AS (B Shares)		217
	1,193,024		Barratt Developments plc		9,319
	22,630		Bassett Furniture Industries, Inc		371
	18,203		Bata India Ltd		369
	43,818	*	Beazer Homes USA, Inc		504
	289,058		Bellway plc		11,468
	64,327		Beneteau S.A.		754
	133,229		Berkeley Group Holdings plc		6,405
	186,000	e	Best Pacific International Holdings Ltd		72
	200,500	g	Bestway Global Holding, Inc		84
	201,510	e	Bonava AB		2,534
	15,324,000		Bosideng International Holdings Ltd		3,755
	114,001		Bovis Homes Group plc		1,580

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,257		Breville Group Ltd	$	616
	464,665		BRP, Inc (Toronto)		12,893
	20,807		Brunello Cucinelli S.p.A		716
	161,452		Brunswick Corp		8,126
	283,826		Burberry Group plc		7,234
	1,852,812	*	Cairn Homes plc		2,993
	5,552,409	*	Cairn Homes plc (London)		8,907
	231,825		Callaway Golf Co		3,693
	82,497	*,e	Canada Goose Holdings, Inc		3,962
	1,067,840	*	Capri Holdings Ltd		48,854
	96,014		Carter’s, Inc		9,677
	38,415	e	Casio Computer Co Ltd		503
	23,255	*	Cavco Industries, Inc		2,733
	18,177		CCC S.A.		1,020
	30,996	*	Century Communities, Inc		743
	10,493		Chargeurs S.A.		222
	1,908,400		China Dongxiang Group Co		277
	844,000		China Lilang Ltd		954
	10,000		Chofu Seisakusho Co Ltd		207
	167		Christian Dior S.A.		80
	428,400		Cia Hering		3,270
	498,181		Cie Financiere Richemont S.A.		36,344
	810,000		Citychamp Watch & Jewellery Group Ltd		168
	39,695		Clarus Corp		509
	8,000		Cleanup Corp		43
	1,029,106		Coats Group plc		1,060
	46,250		Columbia Sportswear Co		4,818
	1,356,400	e	Consorcio ARA, S.A. de C.V.		345
	7,600		Corona Corp		72
	394,000	e,g	Cosmo Lady China Holdings Co Ltd		114
	809,439	g	Countryside Properties plc		3,426
	143,830		Crest Nicholson Holdings plc		694
	223,310	*	CROCS, Inc		5,750
	200,424		Crompton Greaves Consumer Electricals Ltd		657
	358,500	g	Crystal International Group Ltd		188
	11,779		Cuckoo Electronics Co Ltd		1,459
	22,587		Culp, Inc		434
	3,112,100		Cyrela Brazil Realty S.A.		12,932
	71,214	*	Deckers Outdoor Corp		10,468
	86,939		De’Longhi S.p.A.		2,349
	4,939		Delta-Galil Industries Ltd		152
	19,790	e	Descente Ltd		520
	138,872		DFS Furniture plc		453
	40,142		Dorel Industries, Inc (Class B)		354
	970,662		DR Horton, Inc		40,166
	172,413		Eclat Textile Co Ltd		2,325
	1,172,583		Electrolux AB (Series B)		30,195
	13,618		Escalade, Inc		152
	17,300	e	ES-Con Japan Ltd		114
	328,100		Essilor International S.A.		35,842
	30,313		Ethan Allen Interiors, Inc		580
	31,735		Ez Tec Empreendimentos e Participacoes S.A.		217
	22,187		F&F Co Ltd		1,579

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	776,672		Feng TAY Enterprise Co Ltd	$	5,506
	6,600	e	Fields Corp		43
	147,601		Fila Korea Ltd		10,152
	9,248		Flexsteel Industries, Inc		214
	798		Forbo Holding AG.		1,253
	1,181,852		Formosa Taffeta Co Ltd		1,413
	54,247		Forus S.A.		139
	93,977	*,e	Fossil Group, Inc		1,289
	10,491		Foster Electric Co Ltd		158
	10,700		France Bed Holdings Co Ltd		87
	339,999	*,e	Fuguiniao Co Ltd		0	^
	11,300		Fujibo Holdings Inc		269
	34,200		Fujitsu General Ltd		485
	94,918		Games Workshop Group plc		3,891
	185,505	*	Garmin Ltd		16,018
	46,924		Geox S.p.A.		87
	1,204,439		Giant Manufacturing Co Ltd		8,613
	64,842	*	G-III Apparel Group Ltd		2,591
	219,437		Gildan Activewear, Inc		7,890
	2,519,557	*,g	Glenveagh Properties plc		2,496
	2,700,000	*,e,g	Glenveagh Properties plc (London)		2,696
	51,670,000	e	Global Brands Group Holding Ltd		705
	7,100	e	Goldwin, Inc		1,036
	456,000		Goodbaby International Holding		133
	133,520	*,e	GoPro, Inc		868
	62,300		Gree Electric Appliances, Inc of Zhuhai		438
	33,664	*	Green Brick Partners, Inc		295
	148,800		Grendene S.A.		319
	4,400		Guararapes Confeccoes S.A.		162
	9,000		Gunze Ltd		365
	1,185,944	*	Haier Electronics Group Co Ltd		3,453
	9,095		Hamilton Beach Brands Holding Co		195
	15,551		Handsome Co Ltd		610
	2,048,392		Hanesbrands, Inc		36,625
	2,839,168		Hangzhou Robam Appliances Co Ltd		13,584
	9,387		Hansae Co Ltd		236
	5,640		Hanssem Co Ltd		457
	228,384		Hasbro, Inc		19,417
	1,795,000		Haseko Corp		22,624
	22,200		Heilan Home Co Ltd		32
	34,200		Heiwa Corp		684
	44,148	*	Helen of Troy Ltd		5,119
	24,654	*,†	Hellenic Duty Free Shops S.A.		0	^
	23,608,000	*,e	HengTen Networks Group Ltd		717
	17,903		Hermes International		11,821
	3,400		Hinokiya Group Co Ltd		66
	3,271		Hitachi Home & Life Solutions India Ltd		97
	70,881	*,e	HLB, Inc		5,014
	102,772		Hooker Furniture Corp		2,963
	466,000	†	Hosa International Ltd		0	^
	6,879	*	Hovnanian Enterprises, Inc		75
	20,849		HS Industries Co Ltd		163
	13,518		Hugo Boss AG.		924
	355,394	e	Husqvarna AB (B Shares)		2,907

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,818	e	Hwaseung Enterprise Co Ltd	$	102
	1,350		Hyosung TNC Co Ltd		206
	6,834		Hyundai Livart Furniture Co Ltd		124
	6,510	*	IFB Industries Ltd		92
	100,602	e	IG Design Group PLC		697
	310,725		Iida Group Holdings Co Ltd		5,638
	43,337	*	Installed Building Products Inc		2,102
	33,364	*,e	iRobot Corp		3,927
	26,500		Japan Wool Textile Co Ltd		226
	31,299	*	Jinshan Development & Construction Co Ltd		19
	85,263	e	JM AB		1,529
	541,000		JNBY Design Ltd		1,089
	30,630		Johnson Outdoors, Inc		2,186
	1,194,200		JVC KENWOOD Holdings, Inc		2,897
	397,000		Kasen International Holdings Ltd		267
	51,892		Kaufman & Broad S.A.		2,120
	271,729		KB Home		6,568
	3,661,000		Kinpo Electronics		1,350
	39,956		KMC Kuei Meng International In		145
	286,000		Konka Group Co Ltd		107
	6,122		KPR Mill Ltd		51
	45,700		Kurabo Industries Ltd		841
	25,894		LA Opala RG Ltd		81
	75,037		La-Z-Boy, Inc		2,475
	3,797,776		Lealea Enterprise Co Ltd		1,259
	11,900	e	LEC, Inc		152
	10,291	*,e	Legacy Housing Corp		122
	259,084		Leggett & Platt, Inc		10,939
	26,037		Lennar Corp (B Shares)		1,019
	836,418		Lennar Corp (Class A)		41,060
	207,591	*	Levi Strauss & Co		4,889
	169,238		LG Electronics, Inc		11,222
	53,008		LG Fashion Corp		1,169
	23,214	*,e	LGI Homes, Inc		1,398
	2,839,020	*	Li Ning Co Ltd		4,464
	32,432		Lifetime Brands, Inc		307
	9,237	*,e	Lovesac Co		257
	1,174		LPP S.A.		2,545
	334,919	*	Lululemon Athletica, Inc		54,883
	948,724		Luthai Textile Co Ltd		1,131
	307,157		LVMH Moet Hennessy Louis Vuitton S.A.		113,136
	78,093	*	M/I Homes, Inc		2,079
	115,735		Makalot Industrial Co Ltd		812
	192,513	*	Malibu Boats, Inc		7,620
	870,400	e	Man Wah Holdings Ltd		511
	6,442	*,†	Mariella Burani S.p.A.		0
	10,512		Marine Products Corp		142
	5,800		Mars Engineering Corp		115
	177,398	*	MasterCraft Boat Holdings, Inc		4,004
	1,767,173	*,e	Mattel, Inc		22,973
	20,380	g	Mavi Giyim Sanayi Ve Ticaret AS.		141
	49,927		Maytronics Ltd		323
	272,000		MC Group PCL		83

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	358,257	g	McCarthy & Stone plc	$	599
	131,294		MDC Holdings, Inc		3,815
	111,000		Merida Industry Co Ltd		620
	114,366	*	Meritage Homes Corp		5,113
	41,800		Midea Group Co Ltd		303
	148,100	*	MIPS AB		2,142
	7,100		Misawa Homes Co Ltd		51
	9,400		Mizuno Corp		218
	167,700	*	Mohawk Industries, Inc		21,155
	444,048		Moncler S.p.A		17,922
	120,745		Movado Group, Inc		4,393
	1,765,165		MRV Engenharia e Participacoes S.A.		6,307
	3,865		Nacco Industries, Inc (Class A)		148
	327,154		Namco Bandai Holdings, Inc		15,360
	28,000		Nan Liu Enterprise Co Ltd		150
	39,553	*	Nautilus, Inc		220
	46,262	*,e,g	Neinor Homes S.A.		556
	12,635	*,e	New Home Co, Inc		60
	139,600		New Wave Group AB (B Shares)		914
	1,137,501		Newell Rubbermaid, Inc		17,449
	747,000		Nien Made Enterprise Co Ltd		6,594
	3,626,661		Nike, Inc (Class B)		305,401
	256,824	e	Nikon Corp		3,631
	619,400		Nishat Mills Ltd		592
	79,363		Nobia AB		465
	18,957	*	NVR, Inc		52,454
	56,431		Onward Kashiyama Co Ltd		299
	900		Oppein Home Group, Inc		16
	830,835		Oriental Weavers		561
	139,764	e,g	OVS S.p.A		257
	20,015		Oxford Industries, Inc		1,506
	345,000	e,g	Ozner Water International Holding Ltd		55
	2,444,778		Pacific Textile Holdings Ltd		2,199
	6,432		Page Industries Ltd		2,317
	59,200		Paiho Shih Holdings Corp		82
	1,211,635		Panasonic Corp		10,447
	29,086		Pandora AS		1,362
	402,000	*,†	Peace Mark Holdings Ltd		0
	428,283		Persimmon plc		12,114
	308,335	*	Peter England Fashions and Retail Ltd		981
	152,349		Photo-Me International plc		158
	20,656		PIK Group (GDR)		111
	157,940		Polaris Industries, Inc		13,335
	1,766,341		Pou Chen Corp		2,155
	13,798,522		Prada S.p.A		41,133
	398,200	e	Pressance Corp		4,963
	45,018,500		PT Sri Rejeki Isman Tbk		1,070
	1,045,660		Pulte Homes, Inc		29,237
	14,235	*	Puma AG. Rudolf Dassler Sport		8,256
	8,073	*,e	Purple Innovation, Inc		37
	92,846		PVH Corp		11,323
	211,000	e	Q Technology Group Co Ltd		180
	71,500		Qingdao Haier Co Ltd		182
	264,000		Quang Viet Enterprise Co Ltd		1,210

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	197,164		Rajesh Exports Ltd	$	1,895
	43,563		Ralph Lauren Corp		5,649
	60,639		Raymond Ltd		710
	1,271,879		Redrow plc		9,966
	240,000	e,g	Regina Miracle International Holdings Ltd		170
	28,344		Rinnai Corp		2,007
	8,207		Rocky Brands, Inc		197
	141,984	*,e	Roku, Inc		9,159
	373,000	*	Roo Hsing Co Ltd		177
	270,173		Ruentex Industries Ltd		710
	29,623	e	Salvatore Ferragamo Italia S.p.A		636
	3,724,518	*,g	Samsonite International		11,967
	28,400		Sangetsu Co Ltd		516
	103,821		Sankyo Co Ltd		3,964
	17,625		SEB S.A.		2,967
	25,204		Sega Sammy Holdings, Inc		298
	162,300		Seiko Holdings Corp		3,872
	26,000	e	Seiren Co Ltd		385
	299,616		Sekisui Chemical Co Ltd		4,828
	1,002,135		Sekisui House Ltd		16,607
	61,456	e	Sharp Corp		679
	676,024		Shenzhou International Group Holdings Ltd		9,083
	30,745		Shimano, Inc		5,006
	3,648		Sioen Industries NV		105
	59,262	*	Skechers U.S.A., Inc (Class A)		1,992
	252,844		Skyline Corp		4,804
	2,956,000		Skyworth Digital Holdings Ltd		1,007
	22,266	*,e	Sonos, Inc		229
	4,169,630		Sony Corp		176,047
	793,087	*,g	Spin Master Corp		22,196
	52,200		Starts Corp, Inc		1,116
	107,334		Steven Madden Ltd		3,632
	21,057		Sturm Ruger & Co, Inc		1,116
	766,354		Sumitomo Forestry Co Ltd		10,667
	11,400		Superior Uniform Group, Inc		189
	4,496		Surteco SE		126
	14,280		Swatch Group AG.		4,090
	3,243		Swatch Group AG. (Registered)		180
	9,043		Symphony Ltd		180
	616,602		Tainan Spinning Co Ltd		242
	524,600		Taiwan Paiho Ltd		1,222
	8,500		Tamron Co Ltd		155
	1,246,154		Tapestry, Inc		40,488
	1,144,000	*	Tatung Co Ltd		904
	146,222	*	Taylor Morrison Home Corp		2,595
	4,858,623		Taylor Wimpey plc		11,113
	2,904,000		TCL Multimedia Technology Holdings Ltd		1,588
	180,278	g	Technogym S.p.A		2,221
	2,489,073		Techtronic Industries Co		16,763
	16,524	e	Ted Baker plc		336
	48,249	e	Telford Homes plc		178
	245,628	*	Tempur Sealy International, Inc		14,165
	1,769,000		Texhong Textile Group Ltd		2,699

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	458,000		Texwinca Holdings Ltd	$	172
	82,996	g	Thule Group AB		1,878
	444,248		Titan Industries Ltd		7,324
	5,530	e	Tod’s S.p.A.		256
	5,290		Token Corp		344
	528,485		Toll Brothers, Inc		19,131
	349,447	*	TomTom NV		2,943
	124,768		Tomy Co Ltd		1,290
	66,917	*	TopBuild Corp		4,338
	171,932	*	TRI Pointe Homes, Inc		2,173
	33,200		TSI Holdings Co Ltd		191
	143,303	e	Tsutsumi Jewelry Co Ltd		2,435
	3,397		TTK Prestige Ltd		428
	74,780		Tupperware Corp		1,913
	119,254	*,e	Turtle Beach Corp		1,355
	1,059,888	*,e	Under Armour, Inc (Class A)		22,406
	344,547	*	Under Armour, Inc (Class C)		6,502
	19,398	*	Unifi, Inc		375
	237,400	*	Unitika Ltd		914
	21,139	*	Universal Electronics, Inc		785
	21,500	e	Universal Entertainment Corp		651
	3,870		VAN DE Velde		136
	26,768		Vardhman Textiles Ltd		420
	63,719	*	Vera Bradley, Inc		844
	26,121	*	Vestel Elektronik Sanayi		61
	624,652		VF Corp		54,289
	55,326	*,e	Victoria plc		311
	18,093		VIP Industries Ltd		126
	137,245	*	Vista Outdoor, Inc		1,099
	47,000	*	Vulcabras Azaleia S.A.		81
	33,564	*,e	Vuzix Corp		103
	24,713		Wacoal Holdings Corp		615
	306,500		Weiqiao Textile Co		122
	498,612		Welspun India Ltd		429
	115,036		Whirlpool Corp		15,287
	34,372		Whirlpool of India Ltd		752
	45,266	*	William Lyon Homes, Inc		696
	458,521		Wolverine World Wide, Inc		16,383
	48,684		Woongjin Coway Co Ltd		4,053
	1,133,000		XTEP International Holdings		811
	35,181		Yamaha Corp		1,762
	21,980	*,e	YETI Holdings, Inc		665
	12,800	e	Yondoshi Holdings, Inc		241
	32,000	e	Yonex Co Ltd		195
	11,899		Youngone Corp		342
	8,997		Youngone Holdings Co Ltd		508
	407,907		Yue Yuen Industrial Holdings		1,404
	155,407	*	Zagg, Inc		1,410
	190,764		Zeng Hsing Industrial Co Ltd		929
	8,900		Zhejiang Semir Garment Co Ltd		16
	22,900	e	Zojirushi Corp		239
			TOTAL CONSUMER DURABLES & APPAREL		2,148,613

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
CONSUMER SERVICES - 2.1%
	8,200	*,e	500.com Ltd (ADR)	$	114
	211,214		888 Holdings plc		429
	665,575		AA plc		789
	45,003	*,g	AcadeMedia AB		252
	1,185,962		Accor S.A.		48,042
	9,391,000		Accordia Golf Trust		4,127
	95,634	*	Adtalem Global Education, Inc		4,430
	1,500	*,e	Adventure, Inc		73
	270,907		Advtech Ltd		231
	3,900		Aeon Fantasy Co Ltd		101
	330,000		Ajisen China Holdings Ltd		94
	538,500	e	Alsea SAB de C.V.		1,128
	43,936	*	American Public Education, Inc		1,323
	796,891		ARAMARK Holdings Corp		23,548
	9,900		ARCLAND SERVICE Co Ltd		182
	8,428,325	a	Arcos Dorados Holdings, Inc		60,431
	237,560		Ardent Leisure Group Ltd		191
	678,345		Aristocrat Leisure Ltd		11,831
	54,100	e	Atom Corp		481
	71,235		Autogrill S.p.A.		686
	21,091	*,g	Basic-Fit NV		710
	189,299		BBX Capital Corp		1,121
	422,500	*	Beijing Sports and Entertainment Industry Group Ltd		132
	536,879	*	Belmond Ltd.		13,384
	64,825		Benesse Holdings Inc		1,687
	1,886,900		Berjaya Sports Toto BHD		1,120
	5,793		bet-at-home.com AG.		377
	836,332	e	Betsson AB		6,346
	154	*	Biglari Holdings, Inc (A Shares)		113
	8,976	*	Biglari Holdings, Inc (B Shares)		1,269
	25,210		BJ’s Restaurants, Inc		1,192
	90,100		BK Brasil Operacao e Assessoria a Restaurantes S.A.		509
	2,042,200		Bloomberry Resorts Corp		467
	838,956		Bloomin’ Brands, Inc		17,157
	19,304	e	Bluegreen Vacations Corp		287
	148,442		Boyd Gaming Corp		4,061
	164,274	*	Bright Horizons Family Solutions		20,881
	48,229		Brinker International, Inc		2,140
	4,300	e	BRONCO BILLY Co Ltd		102
	1,010,741	*	Caesars Entertainment Corp		8,783
	990,000		Cafe de Coral Holdings Ltd		2,521
	345,883	*	Career Education Corp		5,714
	1,060,368		Carnival Corp		53,782
	157,493		Carnival plc		7,784
	171,337		Carriage Services, Inc		3,298
	404,915	*	Carrols Restaurant Group, Inc		4,037
	38,419	*	Century Casinos, Inc		348
	52,169	e	Cheesecake Factory		2,552
	137,395	*	Chegg, Inc		5,237
	32,473	*,e	Cherry AB		305
	34,300		China International Travel Service Corp Ltd		358
	792,000		China Maple Leaf Educational Systems Ltd		383
	231,000	e,g	China New Higher Education Group Ltd		113

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,776,000		China Travel International Inv HK	$	708
	612,640	g	China Yuhua Education Corp Ltd		252
	103,176	*	Chipotle Mexican Grill, Inc (Class A)		73,287
	69,207		Choice Hotels International, Inc		5,380
	43,792		Churchill Downs, Inc		3,953
	21,042	*	Chuy’s Holdings, Inc		479
	6,354		Cie des Alpes		171
	50,851		City Lodge Hotels Ltd		421
	58,428		Collins Foods Ltd		302
	35,100	e	Colowide Co Ltd		728
	2,109,789		Compass Group plc		49,640
	42,327		Corporate Travel Management Ltd		767
	91,140		Cox & Kings India Ltd		184
	37,104	e	Cracker Barrel Old Country Store, Inc		5,996
	25,700	e	Create Restaurants Holdings, Inc		318
	341,000		Crown Resorts Ltd		2,789
	95,361	e	Curro Holdings Ltd		157
	89,000		CVC Brasil Operadora e Agencia de Viagens S.A.		1,245
	156,343		Dadi Early-Childhood Education Group Ltd		1,249
	953		Daekyo Co Ltd		5
	85,000		Dahan Development Corp		172
	4,200	e	Daisyo Corp		57
	123,792		Dalata Hotel Group plc		817
	153,264		Darden Restaurants, Inc		18,617
	68,717		Dave & Buster’s Entertainment, Inc		3,427
	44,309	*	Del Frisco’s Restaurant Group, Inc		284
	40,346	*	Del Taco Restaurants, Inc		406
	146,892	*	Denny’s Corp		2,695
	137,653		Dignity plc		1,227
	21,795		DineEquity, Inc		1,990
	9,477		DO & CO AG.		779
	55,243		Domino’s Pizza Enterprises Ltd		1,703
	492,254		Domino’s Pizza Group plc		1,553
	58,057		Domino’s Pizza, Inc		14,984
	5,989		DoubleUGames Co Ltd		325
	21,300		Doutor Nichires Holdings Co Ltd		405
	78,699	*	Drive Shack, Inc		353
	2,163,105	*	Dubai Parks & Resorts PJSC		143
	56,068	e	Dunkin Brands Group, Inc		4,211
	624,000		Dynam Japan Holdings Co Ltd		798
	102,753		EIH Ltd		306
	137,285	*	El Pollo Loco Holdings, Inc		1,786
	83,968	*	Eldorado Resorts, Inc		3,920
	64,666	g	Elior Participations S.C.A		866
	15,183	*	Emerson Pacific, Inc		206
	240,000		Emperor Entertainment Hotel Ltd		50
	5,197	*,e	Empire Resorts, Inc		52
	1,144,682	*	Enterprise Inns plc		3,176
	833,200		Erawan Group PCL		185
	506,500		Estacio Participacoes S.A.		3,441
	29,734	g	Evolution Gaming Group AB		2,346
	1,218,534		Extended Stay America, Inc		21,873
	48,000		Fairwood Holdings Ltd		169
	39,960	*	Famous Brands Ltd		236

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,710	*	Fiesta Restaurant Group, Inc	$	416
	120,170		Flight Centre Travel Group Ltd		3,590
	22,990		Formosa International Hotels Corp		118
	195,934	*	frontdoor, Inc		6,744
	478,000		Fu Shou Yuan International Group Ltd		439
	14,499	e	Fuji Kyuko Co Ltd		546
	3,700	e	Fujita Kanko, Inc		91
	224,606		G8 Education Ltd		484
	21,300		GAEC Educacao S.A.		102
	4,223,698		Galaxy Entertainment Group Ltd		28,785
	28,230	*,e	Gaming Innovation Group, Inc		66
	3,000		Genki Sushi Co Ltd		140
	6,078,792		Genting BHD		9,900
	6,806,871		Genting Singapore Ltd		5,236
	1,716,905		Gold Reef Resorts Ltd		2,298
	24,859	*,e	Golden Entertainment, Inc		352
	53,155		Gourmet Master Co Ltd		354
	8,333		Graham Holdings Co		5,693
	102,838	*	Grand Canyon Education, Inc		11,776
	16,511		Grand Korea Leisure Co Ltd		330
	75,552	*	Great Canadian Gaming Corp		2,834
	300,664		Greene King plc		2,606
	230,800		Greggs plc		5,530
	435,277		GVC Holdings plc		3,173
	679,262		H&R Block, Inc		16,262
	90,462	*	Habit Restaurants, Inc		979
	517,000	*,g	Haichang Holdings Ltd		116
	5,226		Hana Tour Service, Inc		334
	15,835		Hiday Hidaka Corp		307
	169,929	*	Hilton Grand Vacations, Inc		5,242
	482,118		Hilton Worldwide Holdings, Inc		40,069
	19,300		HIS Co Ltd		711
	222,000		Hongkong & Shanghai Hotels		320
	888,000	*,g	Hope Education Group Co Ltd		134
	205,900	*,e	Hoteles City Express SAB de C.V.		220
	549,220	*	Houghton Mifflin Harcourt Co		3,993
	124,475		Huangshan Tourism Development Co Ltd		160
	127,000	e	Huazhu Group Ltd (ADR)		5,352
	123,564		Hyatt Hotels Corp		8,967
	9,700		Ichibanya Co Ltd		424
	457,162		IDP Education Ltd		4,739
	581,945		Indian Hotels Co Ltd		1,301
	136,814		InterContinental Hotels Group plc		8,234
	249,715	e	International Game Technology plc		3,244
	30,119		International Speedway Corp (Class A)		1,314
	63,564	e	Invocare Ltd		642
	61,527	*	J Alexander’s Holdings, Inc		604
	85,633		Jack in the Box, Inc		6,941
	33,093	*	Jackpotjoy plc		302
	306,547		Jollibee Foods Corp		1,851
	76,966		Jubilant Foodworks Ltd		1,604
	142,720		Jumbo Interactive Ltd		1,314
	262,847	*	K12, Inc		8,971

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,379	*,e	Kambi Group plc	$	280
	111,121		Kangwon Land, Inc		3,134
	18,700	e	Kappa Create Co Ltd		244
	14,600		Kisoji Co Ltd		350
	6,200	*	KNT-CT Holdings Co Ltd		75
	52,500		KOMEDA Holdings Co Ltd		998
	56,200		Koshidaka Holdings Co Ltd		846
	1,091,945		Kroton Educacional S.A.		2,956
	8,200		Kura Corp		376
	19,900	e	Kyoritsu Maintenance Co Ltd		989
	979,570		Las Vegas Sands Corp		59,715
	326,286	*	Laureate Education, Inc		4,884
	106,682	*,g	Lemon Tree Hotels Ltd		124
	40,237	e,g	LeoVegas AB		126
	49,854	*	Lindblad Expeditions Holdings, Inc		760
	4,555	*	Lotte Tour Development Co Ltd		51
	5,926,000		Macau Legend Development Ltd		1,004
	1,373,000		Magnum BHD		801
	437,700	e	Mandarin Oriental International Ltd		855
	524,243		Marriott International, Inc (Class A)		65,578
	83,803		Marriott Vacations Worldwide Corp		7,836
	372,327		Marston’s plc		498
	4,000		Matsuya Foods Co Ltd		133
	2,149,460		McDonald’s Corp		408,182
	71,653		McDonald’s Holdings Co Japan Ltd		3,315
	7,700	e	Meiko Network Japan Co Ltd		67
	2,990,200	e	Melco Crown Entertainment Ltd (ADR)		67,549
	459,000		Melco International Development		1,077
	67,389		Melia Hotels International S.A.		626
	607,653	g	Merlin Entertainments plc		2,720
	2,435,894	e	MGM China Holdings Ltd		5,108
	879,930		MGM Resorts International		22,579
	1		Minor International PCL (ADR)		0	^
	2,954,608		Minor International PCL (Foreign)		3,584
	175,109		Mitchells & Butlers plc		618
	8,126		Modetour Network, Inc		166
	14,303	*	Monarch Casino & Resort, Inc		628
	3,300	e	Monogatari Corp		269
	14,200	e	MOS Food Services, Inc		345
	26,009		MTY Food Group, Inc		1,145
	3,967		Nathan’s Famous, Inc		271
	128,127		Navitas Ltd		526
	102,981		NetEnt AB		374
	316,098		New Oriental Education & Technology Group (ADR)		28,477
	19,513	*	Noodles & Co		133
	485,626	*	Norwegian Cruise Line Holdings Ltd		26,690
	8,900		Ohsho Food Service Corp		564
	547,430		OPAP S.A.		5,658
	15,666	*,e	Orascom Development Holding AG.		266
	208,691		Oriental Land Co Ltd		23,736
	73,439	*	Paddy Power plc		5,664
	79,849		Pandox AB		1,431
	27,264	e	Papa John’s International, Inc		1,444

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	24,100		Paradise Co Ltd	$	381
	48,524		Park Lawn Corp		998
	1,147,204	g	Parques Reunidos Servicios Centrales SAU		13,950
	38,470	†	Patisserie Holdings plc		108
	1,382,495	*	Penn National Gaming, Inc		27,788
	6,500	e	Pepper Food Service Co Ltd		135
	4,200	e	PIA Corp		174
	406,727	*	Planet Fitness, Inc		27,950
	147,709	*	PlayAGS, Inc		3,535
	195,006		Playtech Ltd		1,105
	11,900	e	Plenus Co Ltd		190
	32,595	*	Potbelly Corp		277
	21,607		RCI Hospitality Holdings, Inc		496
	259,913		Recipe Unlimited Corp		4,936
	21,498	*	Red Lion Hotels Corp		174
	16,559	*	Red Robin Gourmet Burgers, Inc		477
	470,378		Red Rock Resorts, Inc		12,159
	646,000		Regal Hotels International Holdings Ltd		406
	138,656	*	Regis Corp		2,727
	6,600		Renaissance, Inc		117
	2,646,929		Resorts World BHD		2,079
	50,700		Resorttrust, Inc		688
	1,070,524	e	Restaurant Brands International, Inc		69,702
	259,650	e	Restaurant Brands International, Inc (Toronto)		16,892
	63,916		Restaurant Brands New Zealand Ltd		381
	432,601		Restaurant Group plc		665
	15,200	e	Ringer Hut Co Ltd		325
	4,800	*,e	RISE Education Cayman Ltd (ADR)		47
	84,000		Riso Kyoiku Co Ltd		388
	45,800		Round One Corp		581
	639,690		Royal Caribbean Cruises Ltd		73,321
	16,400		Royal Holdings Co Ltd		411
	164,772		Ruth’s Chris Steak House, Inc		4,216
	16,600		Saizeriya Co Ltd		320
	2,954,495		Sands China Ltd		14,870
	117,004	g	Scandic Hotels Group AB		1,045
	218,359	*	Scientific Games Corp (Class A)		4,459
	283,370	*	SeaWorld Entertainment, Inc		7,300
	35,796	g	Ser Educacional S.A.		186
	348,294		Service Corp International		13,984
	357,816	*	ServiceMaster Global Holdings, Inc		16,710
	30,537	*	Shake Shack, Inc		1,806
	1,438,120		Shangri-La Asia Ltd		2,045
	148,600		Shenzhen Overseas Chinese Town Co Ltd		170
	901		Shinsegae Food Co Ltd		74
	151,571		Six Flags Entertainment Corp		7,480
	3,632,148		SJM Holdings Ltd		4,152
	110,664		SkiStar AB		1,218
	1,075,413		Sky City Entertainment Group Ltd		2,835
	164,400		Skylark Co Ltd		2,725
	75,034		Sodexho Alliance S.A.		8,263
	43,432	*	Sotheby’s (Class A)		1,640
	19,742		Speedway Motorsports, Inc		286

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,780,172		SSP Group plc	$	16,064
	11,600		St Marc Holdings Co Ltd		261
	489,616		Star Entertainment Grp Ltd		1,454
	2,370,986		Starbucks Corp		176,259
	201,280	*	Stars Group, Inc		3,518
	43,893		Strategic Education Inc		5,764
	3,400		Studio Alice Co Ltd		70
	68,771	*	Sun International Ltd		260
	34,700		Sushiro Global Holdings Ltd		2,392
	1,664,893		Tabcorp Holdings Ltd		5,463
	383,026		TAL Education Group (ADR)		13,820
	18,700	e	Tarena International, Inc (ADR)		102
	54,772	g	Telepizza Group S.A.		382
	126,165		Texas Roadhouse, Inc (Class A)		7,846
	790,824	e	Thomas Cook Group plc		257
	151,702		Thomas Cook India Ltd		562
	3,600	*,e	TKP Corp		119
	54,000		Tokyo Dome Corp		516
	9,200		Tokyotokeiba Co Ltd		279
	12,500	e	Toridoll.corp		253
	10,400	e	Tosho Co Ltd		289
	20,455	*	Town Sports International Holdings, Inc		97
	461,885		TUI AG. (DI)		4,430
	17,500	*,e	Tuniu Corp (ADR)		84
	615,901		Unibet Group plc (ADR)		6,178
	73,434		Vail Resorts, Inc		15,957
	16,500		Watami Co Ltd		241
	150,941	*	Weight Watchers International, Inc		3,041
	482,282		Wendy’s		8,628
	17,526	*	Westlife Development Ltd		109
	40,299		Wetherspoon (J.D.) plc		688
	347,971		Whitbread plc		23,027
	490,340		William Hill plc		1,026
	138,515		Wingstop, Inc		10,531
	332,000		Wisdom Education International Holdings Co Ltd		162
	176,293		Wyndham Hotels & Resorts, Inc		8,813
	227,881		Wyndham Worldwide Corp		9,227
	1,618,761	*	Wynn Macau Ltd		3,823
	236,823		Wynn Resorts Ltd		28,258
	9,300	e	Yomiuri Land Co Ltd		363
	40,900	e	Yoshinoya D&C Co Ltd		661
	1,553,986		Yum China Holdings, Inc		69,789
	720,048		Yum! Brands, Inc		71,868
	76,300	e	Zensho Co Ltd		1,769
			TOTAL CONSUMER SERVICES		2,414,468
DIVERSIFIED FINANCIALS - 3.7%
	928,053		3i Group plc		11,901
	22,247		ABC Arbitrage		153
	15,535		Ackermans & Van Haaren		2,344
	465,330		Acom Co Ltd		1,664
	118,500		Aeon Credit Service M BHD		488
	168,370		AEON Financial Service Co Ltd		3,434
	110,936		Affiliated Managers Group, Inc		11,882

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,607		AG Mortgage Investment Trust	$	802
	79,327		AGF Management Ltd		321
	5,175	*	AGM Group Holdings, Inc		101
	967,942		AGNC Investment Corp		17,423
	229,200	*,e	Aiful Corp		577
	32,516		Aker ASA (A Shares)		2,482
	47,474	e	Alaris Royalty Corp		749
	521,000		Alexander Forbes Group Holdings Ltd		182
	1,026,877		Ally Financial, Inc		28,229
	811,840		Amanat Holdings PJSC		209
	2,081,676		American Express Co		227,527
	279,297		Ameriprise Financial, Inc		35,778
	151,402	e,g	Amigo Holdings plc		355
	3,123,313		AMP Ltd		4,665
	216,068	g	Amundi S.A.		13,607
	642,434	g	Anima Holding S.p.A		2,627
	1,870,212		Annaly Capital Management, Inc		18,683
	128,087		Anworth Mortgage Asset Corp		517
	19,500		Anxin Trust Co Ltd		21
	150,550		Apollo Commercial Real Estate Finance, Inc		2,740
	85,262	e	Arbor Realty Trust, Inc		1,106
	286,614		Ares Commercial Real Estate Corp		4,354
	40,836	e	Arlington Asset Investment Corp (Class A)		325
	60,284	*	ARMOUR Residential REIT, Inc		1,177
	101,025	e	Arrow Global Group plc		287
	142,405		Artisan Partners Asset Management, Inc		3,584
	1,171	*	Ashford, Inc		65
	1,421,210		Ashmore Group plc		7,912
	12,981	*,†	Asia Pacific Investment Partners Ltd		0	^
	3,825	e	Associated Capital Group, Inc		151
	16,990		Aurelius AG.		773
	522,001		Australian Stock Exchange Ltd		25,930
	12,541		Avanza AB		539
	33,800		Avic Capital Co Ltd		30
	1,380,447		AXA Equitable Holdings, Inc		27,802
	76,548	*	Axactor SE		163
	479,836		Ayala Corp		8,593
	2,215	*,†	Ayala Corp Preferred		0	^
	143,878	e	Azimut Holding S.p.A.		2,448
	26,129		B. Riley Financial, Inc		436
	141,030	e	B2Holding ASA		198
	2,708,853		B3 S.A.-Brasil Bolsa Balcao		22,222
	276,858		Bajaj Finance Ltd		12,080
	121,249	e,g	Banca Farmafactoring S.p.A		738
	169,490		Banca Generali S.p.A		4,219
	28,964		Banca IFIS S.p.A.		478
	145,907	e	Banca Mediolanum S.p.A		1,035
	36,343		Banco Latinoamericano de Exportaciones S.A. (Class E)		724
	2,094,133		Bank of New York Mellon Corp		105,607
	543,156		BGC Partners, Inc (Class A)		2,884
	207,235		BinckBank NV		1,464
	218,404		BlackRock, Inc		93,339

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,169,417		Blackstone Group LP	$	40,894
	160,451		Blackstone Mortgage Trust, Inc		5,545
	57,950	*	Blucora, Inc		1,934
	484,000	e	BOCOM International Holdings Co Ltd		95
	285,500	e	Bolsa Mexicana de Valores S.A. de C.V.		591
	53,128		Bolsas y Mercados Espanoles		1,484
	180,271	*	Brait S.A.		300
	476,102		Brewin Dolphin Holdings plc		1,947
	3,758,000	e	Bright Smart Securities & Commodities Group Ltd		941
	1,195,554		Brookfield Asset Management, Inc		55,700
	5,228		BSE Ltd		46
	183,716		BT Investment Management Ltd		1,209
	57,722		Bure Equity AB		967
	380,572		Burford Capital Ltd		8,362
	419,300		Bursa Malaysia BHD		706
	146,328		Canaccord Financial, Inc		639
	219,965	*	Cannae Holdings, Inc		5,336
	1,201,106		Capital One Financial Corp		98,118
	960,990		Capital Securities Corp		300
	110,889		Capstead Mortgage Corp		953
	201,936		CBOE Holdings, Inc		19,273
	86,671		Cembra Money Bank AG.		8,202
	30,400		Century Leasing System, Inc		1,325
	110,661		Cerved Information Solutions S.p.A		1,102
	5,026,028		Chailease Holding Co Ltd		20,595
	671,459		Challenger Financial Services Group Ltd		3,957
	15,600		Changjiang Securities Co Ltd		17
	2,260,126		Charles Schwab Corp		96,643
	20,242		Cherry Hill Mortgage Investment Corp		349
	373,367		Chimera Investment Corp		6,997
	520,000		China Bills Finance Corp		247
	8,751,105		China Cinda Asset Management Co Ltd		2,434
	1,248,000	*,†,e	China Ding Yi Feng Holdings Ltd		2,754
	949,125		China Everbright Ltd		1,885
	9,319,045		China Galaxy Securities Co Ltd		6,142
	12,311,000	g	China Huarong Asset Management Co Ltd		2,623
	978,000	g	China International Capital Corp Ltd		2,270
	1,072,000	*,e	China LNG Group Ltd		170
	25,800		China Merchants Securities Co Ltd		67
	930,000	*	China Tonghai International Financial Ltd		65
	10,464,000	*,e	Chong Sing Holdings FinTech Gr		87
	443,702		CI Financial Corp		6,056
	4,796,415		CITIC Securities Co Ltd		11,207
	142,600		CITIC Securities Co Ltd (Class A)		525
	4,757,723		ClearView Wealth Ltd		2,765
	154,927		Close Brothers Group plc		2,938
	89,337	g	CMC Markets plc		97
	933,943		CME Group, Inc		153,708
	253,808		Coface S.A.		2,244
	26,717		Cohen & Steers, Inc		1,129
	101,376		Colony Credit Real Estate, Inc		1,588
	1,128,500		Concentradora Hipotecaria SAPI de C.V.		969
	146,140		Coronation Fund Managers Ltd		466
	7,808		Corp Financiera Alba		387

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	177,764	*	Corp Financiera Colombiana S.A.	$	1,478
	120,641	*	Cowen Group, Inc		1,748
	34,063	*,†	Cox & Kings Ltd		32
	60,781	*	Credit Acceptance Corp		27,469
	22,917		Credit Analysis & Research Ltd		327
	35,782	e	Credit Corp Group Ltd		565
	46,942	e	Credit Saison Co Ltd		621
	6,688,943		Credit Suisse Group		77,969
	130,951		Credito Real SAB de C.V.		148
	23,502		CRISIL Ltd		496
	15,941	*	Curo Group Holdings Corp		160
	381,152		Daewoo Securities Co Ltd		2,468
	47,569		Daishin Securities Co Ltd		462
	7,939		Daishin Securities Co Ltd PF		60
	1,469,375		Daiwa Securities Group, Inc		7,162
	6,775		Daou Data Corp		58
	114,032		Daou Technology, Inc		2,128
	60,533		DeA Capital S.p.A.		96
	234,907		Deutsche Bank AG. (Registered)		1,915
	7,871		Deutsche Beteiligungs AG.		292
	230,851		Deutsche Boerse AG.		29,600
	4,380		Diamond Hill Investment Group, Inc		613
	1,155,000	*	Dingyi Group Investment Ltd		65
	785,910		Discover Financial Services		55,925
	56,615	e,g	doBank S.p.A		759
	42,776	*	Donnelley Financial Solutions, Inc		636
	1,276,349		Dubai Financial Market		256
	98,835	*,g	DWS Group GmbH & Co KGaA		3,437
	79,882		Dynex Capital, Inc		486
	1,171,951		E*TRADE Financial Corp		54,414
	226,267		Eaton Vance Corp		9,121
	215,403		Eclipx Group Ltd		98
	290,750		ECN Capital Corp		942
	3,246,504		Edelweiss Capital Ltd		9,253
	6,728	*,e	EFG Financial Products Holding AG.		250
	61,372		EFG International		389
	15,800		eGuarantee, Inc		158
	323,975		Egyptian Financial Group-Hermes Holding		311
	559,251		Element Financial Corp		3,536
	25,361	*,e	Elevate Credit, Inc		110
	2,022,000		Emperor Capital Group Ltd		103
	31,530	*,e	Encore Capital Group, Inc		859
	266,021	*	Enova International, Inc		6,071
	240,575	*	Equitas Holdings Ltd		475
	14,750		Eurazeo		1,109
	1,712,646	g	Euronext NV		108,657
	13,100		Everbright Securities Co Ltd		26
	106,151		Evercore Partners, Inc (Class A)		9,660
	249,114		Exantas Capital Corp		2,648
	178,904		EXOR NV		11,619
	63,540	*	Ezcorp, Inc (Class A)		592
	40,541		Factset Research Systems, Inc		10,065
	2,316,276		Far East Horizon Ltd		2,455

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,029		Federated Investors, Inc (Class B)	$	3,518
	979,830	*	FGL Holdings		7,711
	67,795		Fiera Capital Corp		636
	38,000		Financial Products Group Co Ltd		312
	6,937	*	FinTech Group AG.		165
	12,500		First Capital Securities Co Ltd		15
	1,402,000		First Pacific Co		512
	140,561		FirstCash, Inc		12,159
	3,572,872	e	FirstRand Ltd		15,644
	423,925		FlexiGroup Ltd		418
	239,983	g	Flow Traders		6,617
	30,925	*	Focus Financial Partners, Inc		1,102
	27,400		Founder Securities Co Ltd		31
	559,129		Franklin Resources, Inc		18,530
	23,981,303		Fuhwa Financial Holdings Co Ltd		13,679
	14,800		Fuyo General Lease Co Ltd		734
	39,933	e	Gain Capital Holdings, Inc		251
	6,173		GAMCO Investors, Inc (Class A)		127
	4,300,200	e	Gentera SAB de C.V.		3,354
	24,884	*	Georgia Capital plc		353
	1,607,600		GF Securities Co Ltd		2,315
	125,000		GF Securities Co Ltd (Class A)		300
	10,474		Gimv NV		588
	35,200		GMO Financial Holdings, Inc		205
	1,308,377		Goldman Sachs Group, Inc		251,195
	115,609		Granite Point Mortgage Trust, Inc		2,147
	19,683		Great Ajax Corp		270
	155,185	*	Green Dot Corp		9,412
	23,271		Greenhill & Co, Inc		501
	14,421		GRENKELEASING AG.		1,406
	75,444		Groupe Bruxelles Lambert S.A.		7,335
	364,067		Grupo de Inversiones Suramericana S.A.		4,184
	204,118		Grupo de Inversiones Suramericana S.A. (Preference)		2,202
	14,516		Gruppo MutuiOnline S.p.A		301
	175,325		GT Capital Holdings, Inc		3,112
	12,700		Guosen Securities Co Ltd		26
	1,771,800	e	Guotai Junan International Hol		360
	36,700		Guotai Junan Securities Co Ltd		110
	708,000	g	Guotai Junan Securities Co Ltd (Hong Kong)		1,578
	15,000		Guoyuan Securities Co Ltd		23
	717,983		Haci Omer Sabanci Holding AS		1,013
	3,172,162		Haitong Securities Co Ltd		4,115
	127,700		Haitong Securities Co Ltd (Class A)		266
	21,465		Hamilton Lane, Inc		935
	9,069		Hankook Tire Worldwide Co Ltd		124
	51,081	*	Hanwha Securities Co		98
	265,280		Hargreaves Lansdown plc		6,445
	29,876		Hellenic Exchanges S.A.		144
	36,600		Hitachi Capital Corp		850
	58,409	e,g	Hoist Finance AB		235
	1,253,044		Hong Kong Exchanges and Clearing Ltd		43,779
	42,178		Houlihan Lokey, Inc		1,934
	1,638,400	*,g	Huatai Securities Co Ltd		3,283

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	90,816		Huatai Securities Co Ltd (Class A)	$	302
	29,651	e	HUB24 Ltd		292
	2,074	*	Hypoport AG.		418
	47,000		IBJ Leasing Co Ltd		1,111
	35,600		Ichiyoshi Securities Co Ltd		250
	38,012	g	ICICI Securities Ltd		133
	365,175	*	IFCI Ltd		73
	1,926,930		IG Group Holdings plc		13,058
	181,207		IGM Financial, Inc		4,662
	136,802		India Infoline Ltd		847
	2,074,627		Indiabulls Housing Finance Ltd		25,667
	151,625		Indiabulls Securities Ltd		712
	38,140	g	Indian Energy Exchange Ltd		91
	28,200		Industrial Securities Co Ltd		30
	64,654		Industrivarden AB		1,356
	406,395		Infrastructure Development Finance Co Ltd		273
	116,792		IntegraFin Holdings plc		532
	149,326		Interactive Brokers Group, Inc (Class A)		7,747
	1,386,981		IntercontinentalExchange Group, Inc		105,605
	842,673		Intermediate Capital Group plc		11,705
	140,700		International Personal Finance plc		357
	63,615	*	INTL FCStone, Inc		2,466
	142,777		Inversiones La Construccion S.A.		2,482
	711,413		Invesco Ltd		13,737
	154,641		Invesco Mortgage Capital, Inc		2,443
	926,555		Investec Ltd		5,425
	339,966		Investec plc		1,959
	20,665		Investment AB Kinnevik (B Shares)		536
	26,012	*	Investment AB Oresund		370
	240,362		Investor AB (B Shares)		10,835
	194,771	e	IOOF Holdings Ltd		849
	20,000		iShares Dow Jones US Financial Services Index Fund		2,496
	395,808		iShares MSCI Canada Index Fund		10,940
	1,985,977		iShares MSCI EAFE Index Fund		128,810
	1,098,532		iShares MSCI Emerging Markets		47,149
	2,408		iShares MSCI South Korea Index Fund		147
	202,022	e	iShares Russell 1000 Value Index Fund		24,948
	60,000	e	iShares Russell Midcap Growth Index Fund		8,140
	29,400	e	J Trust Co Ltd		101
	19,900		Jaccs Co Ltd		321
	30,610	*	Jafco Co Ltd		1,099
	10,600	e	Japan Investment Adviser Co Ltd		250
	1,260,800		Japan Securities Finance Co Ltd		6,663
	528,062		Jefferies Financial Group, Inc		9,922
	773,193		Jih Sun Financial Holdings Co Ltd		239
	364,678		JM Financial Ltd		495
	213,768		JSE Ltd		1,958
	61,308		Julius Baer Group Ltd		2,480
	111,628		Julius Baer Holding AG.		349
	1,150,130		Jupiter Investment Management Group Ltd		5,421
	96,500	e	kabu.com Securities Co Ltd		485
	53,593		KBC Ancora		2,490

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,774		KIWOOM Securities Co Ltd	$	557
	282,065		KKR Real Estate Finance Trust, Inc		5,647
	38,684		Korea Investment Holdings Co Ltd		2,121
	9,518		KRUK S.A.		378
	147,751	*	Kumho Investment Bank		96
	7,918		Kyobo Securities Co		66
	10,000		Kyokuto Securities Co Ltd		93
	581,297		Ladder Capital Corp		9,894
	548,821		Ladenburg Thalmann Financial Services, Inc		1,553
	534,303		Lazard Ltd (Class A)		19,310
	187,237		Legg Mason, Inc		5,125
	392,447	*	LendingClub Corp		1,213
	697,633		London Stock Exchange Group plc		43,153
	416,397		LPL Financial Holdings, Inc		29,002
	73,738		Lundbergs AB (B Shares)		2,335
	3,500	*	M&A Capital Partners Co Ltd		160
	368,027		Macquarie Group Ltd		33,894
	472,934		Magellan Financial Group Ltd		12,266
	67,244		Magma Fincorp Ltd		114
	297,967	*	Mahindra & Mahindra Financial Services Ltd		1,812
	14,077,849		Man Group plc		24,938
	1,007,586		Manappuram General Finance & Leasing Ltd		1,824
	68,949		MarketAxess Holdings, Inc		16,967
	10,557		Marlin Business Services Corp		227
	34,100	*,e	Marusan Securities Co Ltd		202
	68,200	*,e	Matsui Securities Co Ltd		643
	71,235		Meritz finance Holdings Co Ltd		892
	760,005		Meritz Securities Co Ltd		3,274
	32,573,906		Metro Pacific Investments Corp		3,010
	879,094		MFA Mortgage Investments, Inc		6,391
	288,807		Mitsubishi UFJ Lease & Finance Co Ltd		1,474
	37,677		MLP AG.		189
	54,828		Moelis & Co		2,281
	24,847		Moelis Australia Ltd		76
	99,800	e	Monex Beans Holdings, Inc		346
	300,002		Moody’s Corp		54,327
	7,614,958		Morgan Stanley		321,351
	56,417		Morningstar, Inc		7,108
	42,503		Motilal Oswal Financial Services Ltd		369
	177,390		MSCI, Inc (Class A)		35,272
	463,100		Muangthai Capital PCL		644
	998,772	*	Multi Commodity Exchange of India Ltd		11,615
	165,920		Muthoot Finance Ltd		1,473
	213,402		NASDAQ OMX Group, Inc		18,671
	217,814		Natixis		1,167
	483,497		Navient Corp		5,594
	495,688		Navigator Global Investments Ltd		1,095
	3,400		NEC Capital Solutions Ltd		52
	22,351		Nelnet, Inc (Class A)		1,231
	291,645	e	Netwealth Group Ltd		1,712
	752,403		New Residential Investment Corp		12,723
	200,870		New York Mortgage Trust, Inc		1,223
	56,823	*	NewStar Financial, Inc		15
	20,872		NICE Holdings Co Ltd		367

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,800	*,e	Noah Holdings Ltd (ADR)	$	1,396
	1,455,010		Nomura Holdings, Inc		5,258
	200,726		Northern Trust Corp		18,148
	46,152		Numis Corp plc		150
	78,700		Okasan Holdings, Inc		293
	1,192,488		OM Asset Management plc		16,170
	622,945	*	On Deck Capital, Inc		3,376
	684,230		OneMain Holdings, Inc		21,724
	94,497		Onex Corp		5,330
	500,000	e	OP Financial Investments Ltd		134
	12,159		Oppenheimer Holdings, Inc		316
	71,861	e	Orchid Island Capital, Inc		473
	2,641,400	e	Orient Corp		2,701
	16,900		Orient Securities Co Ltd		30
	3,828,543		ORIX Corp		55,007
	484,912		Osaka Securities Exchange Co Ltd		8,655
	454,925		OzForex Group Ltd		540
	44,184		P2P Global Investments plc		467
	13,854		Pargesa Holding S.A.		1,086
	18,788		Partners Group		13,668
	69,222		PennyMac Mortgage Investment Trust		1,434
	845,910		Peregrine Holdings Ltd		1,102
	517,000	*,†	Peregrine Investment Holdings		0
	59,121	e	Perpetual Trustees Australia Ltd		1,627
	27,705		Pico Holdings, Inc		274
	58,869	e	Pinnacle Investment Management Group Ltd		222
	856,049	*	Pioneers Holding		346
	16,838		Piper Jaffray Cos		1,226
	23,507		PJT Partners, Inc		983
	290,254	e	Platinum Asset Mangement Ltd		948
	892,710		Plus500 Ltd		8,744
	755,200	*	Pool Advista Indonesia Tbk PT		159
	2,097,970		Power Finance Corp Ltd		3,728
	54,243	*	PRA Group, Inc		1,454
	400,082		President Securities Corp		181
	152,617	*	Provident Financial plc		1,019
	112,008		PSG Group Ltd		2,031
	6,695,900	*	PT Kresna Graha Investama Tbk		284
	132,792		Pzena Investment Management, Inc (Class A)		1,074
	4,948,364	g	Quilter plc		9,459
	726,718		Ratchthani Leasing PCL		126
	33,035		Rathbone Brothers		958
	158,176	e	Ratos AB (B Shares)		321
	240,941		Raymond James Financial, Inc		19,374
	36,714	e	Ready Capital Corp		539
	113,588		Redwood Trust, Inc		1,834
	63,719	*	Regional Management Corp		1,556
	176,021		Reinet Investments S.C.A		3,011
	52,776		Reliance Capital Ltd		156
	737,035		Remgro Ltd		9,485
	37,398		Repco Home Finance Ltd		251
	2,195,623	g	Resurs Holding AB		13,611
	10,800		Ricoh Leasing Co Ltd		326

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	568,969	e	RMB Holdings Ltd	$	3,003
	1,835,828		Rural Electrification Corp Ltd		4,047
	649,118		S&P Global, Inc		136,672
	35,368	*	Safeguard Scientifics, Inc		384
	20,568		Samsung Card Co		623
	66,881		Samsung Securities Co Ltd		1,968
	80,705		Sanne Group plc		568
	411,338		Santander Consumer USA Holdings, Inc		8,692
	104,754	e	SBI Holdings, Inc		2,342
	10,921		Schroders plc		385
	305,496		SEI Investments Co		15,962
	5	*,†	SFCG Co Ltd		0
	11,600		Shanxi Securities Co Ltd		17
	142,000	*,e	Sheng Ye Capital Ltd		136
	74,200		Shenwan Hongyuan Group Co Ltd		61
	398		Shinyoung Securities Co Ltd		20
	706,569		Shriram Transport Finance Co Ltd		13,028
	10,249	*,e	Siebert Financial Corp		121
	9,962		Silvercrest Asset Management Group, Inc		142
	2,212,030		Singapore Exchange Ltd		11,957
	13,400		Sinolink Securities Co Ltd		21
	104,853	*	SKS Microfinance Pvt Ltd		1,710
	6,590,000	e	Skyway Securities Group Ltd		240
	812,130		SLM Corp		8,048
	768,475	*,†,e	SNS Reaal		9
	3,595		Societe Fonciere Financiere et de Participations FFP		379
	14,728		Sofina S.A.		2,865
	9,900		SooChow Securities Co Ltd		15
	35,900	e	Sparx Group Co Ltd		76
	13,540		SPDR Trust Series 1		3,825
	228,008	e	Sprott, Inc		517
	316,350		Srisawad Corp PCL		530
	430,515		St. James’s Place plc		5,769
	2,095,935		Standard Life Aberdeen plc		7,204
	884,882		Starwood Property Trust, Inc		19,777
	1,489,758		State Street Corp		98,041
	212,431		Stifel Financial Corp		11,208
	6,600	e	Strike Co Ltd		136
	1,339,000		Sun Hung Kai & Co Ltd		673
	30,426		Sundaram Finance Ltd		685
	54,134		Swissquote Group Holding S.A.		1,976
	2,647,563		Synchrony Financial		84,457
	472,339		T Rowe Price Group, Inc		47,291
	1,980,814	e	Tai Fook Securities Group Ltd		782
	641,000		Taiwan Acceptance Corp		2,384
	60,928		Tamburi Investment Partners S.p.A.		426
	8,197		Tata Investment Corp Ltd		99
	646,702		TD Ameritrade Holding Corp		32,329
	83,951		TMX Group Ltd		5,407
	119,480		Tokai Tokyo Securities Co Ltd		434
	51,744	*	Tong Yang Investment Bank		141
	45,496		TPG RE Finance Trust, Inc		892
	346,479		Tullett Prebon plc		1,328
	427,513		Two Harbors Investment Corp		5,784

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,613,854		UBS AG.	$	31,715
	613,400	e	Unifin Financiera SAPI de C.V. SOFOM ENR		1,312
	473,832		UOB-Kay Hian Holdings Ltd		431
	293,724	*	Uranium Participation Corp		980
	9,500	*,e	Uzabase, Inc		260
	1,797		Value Line, Inc		44
	582,000		Value Partners Group Ltd		453
	20,090	e	Vanguard Emerging Markets ETF		854
	25,000	e	Vanguard FTSE Developed Markets ETF		1,022
	12,989		Verusa Holding AS.		51
	169,896	e	Virtu Financial, Inc		4,035
	8,746		Virtus Investment Partners, Inc		853
	13,676	e	Volati AB		63
	14,416		Vontobel Holding AG.		776
	1,449,180		Voya Financial, Inc		72,401
	1,856		VZ Holding AG.		486
	92,689		Waddell & Reed Financial, Inc (Class A)		1,603
	109,713		Warsaw Stock Exchange		1,115
	1,684,637		Waterland Financial Holdings		574
	46,560		Wendel		5,867
	62,147		Western Asset Mortgage Capital Corp		636
	16,700		Western Securities Co Ltd		29
	62,328		Westwood Holdings Group, Inc		2,198
	141,551		WisdomTree Investments, Inc		999
	122,744		Woori Investment & Securities Co Ltd		1,458
	7,930	*	World Acceptance Corp		929
	13,700	e	Yintech Investment Holdings Ltd (ADR)		86
	5,200	e	Yirendai Ltd (ADR)		70
	570,049		Zeder Investments Ltd		163
	59,600		Zenkoku Hosho Co Ltd		2,086
			TOTAL DIVERSIFIED FINANCIALS		4,295,143
ENERGY - 5.6%
	322,626	*	Abraxas Petroleum Corp		403
	2,419		Adams Resources & Energy, Inc		94
	19,846,504		Adaro Energy Tbk		1,879
	246,902	*,e	Advantage Oil & Gas Ltd		406
	45,655		Aegis Logistics Ltd		134
	6,670,000	e	Agritrade Resources Ltd		1,105
	82,624	*	Akastor ASA		126
	485,124	e	Aker BP ASA		17,301
	86,148	*	Aker Solutions ASA		436
	724,942		Anadarko Petroleum Corp		32,970
	131,618	*	Antero Resources Corp		1,162
	1,108,000	*	Anton Oilfield Services Group		175
	449,239		Apache Corp		15,571
	565,101	*	Apergy Corp		23,203
	282,778	*,e	Approach Resources, Inc		100
	727,195	e	ARC Resources Ltd		4,963
	125,798		Arch Coal, Inc		11,482
	909,836		Archrock, Inc		8,898
	45,656	*	Ardmore Shipping Corp		281
	555,857	*	Athabasca Oil Corp		354

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	759,743		Baker Hughes a GE Co	$	21,060
	229,600		Bangchak Corp PCL		233
	2,094,310		Banpu PCL (Foreign)		1,071
	66,191	*	Basic Energy Services, Inc		252
	760,101	*	Baytex Energy Trust		1,291
	5,101,971		Beach Petroleum Ltd		7,445
	66,496		Berry Petroleum Co LLC		767
	1,032,436		Bharat Petroleum Corp Ltd		5,937
	326,539	e	Birchcliff Energy Ltd		870
	128,230	*	Bonanza Creek Energy, Inc		2,910
	45,996	e	Bonterra Oil & Gas Ltd		216
	234,233	*,e	Borr Drilling Ltd		723
	46,106	*,e	Bourbon S.A.		121
	19,189,898		BP plc		139,347
	689,885		BP plc (ADR)		30,162
	4,650,000	*,†,e	Brightoil Petroleum Holdings Ltd		666
	11,500	*,e	Bristow Group, Inc		13
	1,734,100	*	Bumi Armada BHD		81
	40,547	*,e,g	BW LPG Ltd		141
	246,819	*	BW Offshore Ltd		1,284
	136,043	*	C&J Energy Services, Inc		2,111
	1,282,167		Cabot Oil & Gas Corp		33,465
	115,029	*	Cactus, Inc		4,095
	345,475	*	Cairn Energy plc		728
	97,623	*,e	Calfrac Well Services Ltd		245
	86,627	*	California Resources Corp		2,227
	332,154	*,e	Callon Petroleum Co		2,508
	271,376		Caltex Australia Ltd		5,049
	598,081		Cameco Corp (Toronto)		7,049
	582,331	*,e	Canacol Energy Ltd		1,978
	1,394,195		Canadian Natural Resources Ltd (Canada)		38,278
	29,772	*,e	CARBO Ceramics, Inc		104
	177,345	e	Cardinal Energy Ltd		358
	108,868	*	Carrizo Oil & Gas, Inc		1,358
	2,064,121		Cenovus Energy, Inc (Toronto)		17,917
	303,752	*,e	Centennial Resource Development, Inc		2,670
	365,164		CES Energy Solutions Corp		746
	2,492,792	*	CGG S.A.		5,098
	863,462	*	Cheniere Energy, Inc		59,026
	161,425		Chennai Petroleum Corp Ltd		637
	1,793,861	*,e	Chesapeake Energy Corp		5,561
	6,009,202		Chevron Corp		740,214
	160,400		China Aviation Oil Singapore Corp Ltd		159
	2,987,000		China Coal Energy Co		1,238
	8,115,826		China Oilfield Services Ltd		8,761
	196,500		China Shenhua Energy Co Ltd		573
	12,912,795		China Shenhua Energy Co Ltd (Hong Kong)		29,469
	10,704,000		China Suntien Green Energy Cor		3,261
	211,064		Cimarex Energy Co		14,753
	1,705,933	*	Clean Energy Fuels Corp		5,271
	16,743,646		CNOOC Ltd		31,188
	356,497	*	CNX Resources Corp		3,839
	1,131,821		Coal India Ltd		3,874
	118	*,†,b	Cobalt International Energy, Inc		0	^

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	104,684		Computer Modelling Group Ltd	$	482
	2,087,087		Concho Resources, Inc		231,583
	1,802,958		ConocoPhillips		120,329
	191,492	*	CONSOL Energy, Inc		6,553
	497,629	*	Continental Resources, Inc		22,279
	993,751	*	Cooper Energy Ltd		353
	125		Core Laboratories NV		9
	169,128		Cosan SA Industria e Comercio		1,842
	44,200	e	Cosmo Energy Holdings Co Ltd		888
	38,019	*,e	Covia Holdings Corp		213
	741,227		Crescent Point Energy Corp		2,402
	80,692		CVR Energy, Inc		3,325
	29,261	*	Dawson Geophysical Co		86
	3,213		Delek Group Ltd		557
	2,218,117	e	Delek US Holdings, Inc		80,784
	1,015,925	*	Denbury Resources, Inc		2,083
	646,049	*	Devon Energy Corp		20,389
	132,519		DHT Holdings, Inc		591
	9,464,751		Dialog Group BHD		7,347
	92,765	*,e	Diamond Offshore Drilling, Inc		973
	1,166,573		Diamondback Energy, Inc		118,442
	7,112,238		DNO International ASA		15,815
	639,400	*	Dommo Energia S.A.		129
	75,299	*	Dorian LPG Ltd		483
	53,955	*	Dril-Quip, Inc		2,474
	14,805		E1 Corp		842
	30,092	*	Earthstone Energy, Inc		213
	6,289,580		Ecopetrol S.A.		6,737
	368,813		Empresas COPEC S.A.		4,682
	184,049		Enagas		5,358
	2,208,544		Enbridge, Inc (Toronto)		79,989
	1,611,248		EnCana Corp		11,671
	116,976		Enerflex Ltd		1,671
	2,329,714		Energy Absolute PCL (Foreign)		3,529
	1,168,600	*,†	Energy Earth PCL		0	^
	108,189	*,e	Energy Fuels, Inc		360
	421,422		Enerplus Resources Fund		3,532
	3,233,485		ENI S.p.A.		57,131
	3,162,486	*	Enquest plc (London)		784
	742		Ensco plc		3
	185,944		Ensign Energy Services, Inc		744
	3,590,703		EOG Resources, Inc		341,763
	271,871		EQT Corp		5,639
	31,431	*	Equital Ltd		899
	597,702		Equitrans Midstream Corp		13,018
	91,574	*	Era Group, Inc		1,057
	323,400		Esso Malaysia BHD		524
	4,294		Esso SA Francaise		162
	140,700		Esso Thailand PCL (Foreign)		49
	102,140	*	Etablissements Maurel et Prom		393
	90,210	e	Euronav NV		734
	456,507		Evolution Petroleum Corp		3,081
	16,942	*	Exmar NV		107

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	398,314	*	Exterran Corp	$	6,712
	248,169	*,e	Extraction Oil & Gas, Inc		1,050
	335,588		Exxaro Resources Ltd		3,817
	7,761,309		Exxon Mobil Corp		627,114
	16,492	*,e	FLEX LNG Ltd		213
	1,299,814		Formosa Petrochemical Corp		4,880
	106,856	*	Forum Energy Technologies, Inc		546
	98,559	*,e	Frank’s International NV		612
	135,966	e	Freehold Royalty Trust		856
	120,398	*,e	Frontline Ltd		778
	42,411	*,e	Frontline Ltd (Sigmax MTF)		271
	154,420	*	FTS International, Inc		1,544
	49,007	*,e	Fugro NV		499
	739,833		Galp Energia SGPS S.A.		11,855
	279,530		GasLog Ltd		4,881
	5,761,184		Gazprom (ADR)		26,041
	91,365		Gaztransport Et Technigaz S.A.		8,317
	235,983		Gibson Energy, Inc		4,056
	445,653		Golar LNG Ltd		9,399
	8,731	*	Goodrich Petroleum Corp		119
	76,667		Great Eastern Shipping Co Ltd		315
	46,949		Green Plains Renewable Energy, Inc		783
	120,804		Grupa Lotos S.A.		2,624
	142,650		GS Holdings Corp		6,644
	117,400		Guanghui Energy Co Ltd		76
	59,724		Gujarat Mineral Development Corp Ltd		70
	48,406	*	Gulf International Services OSC		207
	709,296	*	Gulf Keystone Petroleum Ltd		2,346
	430,983	*	Gulfport Energy Corp		3,456
	170,230	*,e	Halcon Resources Corp		230
	19,141		Hallador Energy Co		101
	1,673,026		Halliburton Co		49,020
	394		Hankook Shell Oil Co Ltd		111
	414,976	*	Helix Energy Solutions Group, Inc		3,282
	189,505		Helmerich & Payne, Inc		10,529
	404,251		Hess Corp		24,348
	2,707,400	*	Hibiscus Petroleum BHD		708
	726,747	*	HighPoint Resources Corp		1,606
	1,310,839		Hindustan Petroleum Corp Ltd		5,391
	25,947	e	Hoegh LNG Holdings Ltd		109
	211,042		HollyFrontier Corp		10,398
	1,417,000	*,e	Honghua Group Ltd		127
	90,273		Hunting plc		699
	834,507	*	Hurricane Energy plc		502
	1,175,270		Husky Energy, Inc		11,653
	154,150	e	Idemitsu Kosan Co Ltd		5,156
	329,852		Imperial Oil Ltd		9,004
	213,319	*	Independence Contract Drilling, Inc		591
	3,675,506		Indian Oil Corp Ltd		8,658
	2,021,800		Inner Mongolia Yitai Coal Co		2,489
	3,920,242		Inpex Holdings, Inc		37,293
	408,622	e	Inter Pipeline Ltd		6,761
	37,994	*	International Seaways, Inc		651
	13,965	*	ION Geophysical Corp		202

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,060,907		IRPC PCL (Foreign)	$	1,978
	1,498	*,e	Isramco, Inc		169
	99,353		Itochu Enex Co Ltd		802
	84,569	*,e	Jagged Peak Energy, Inc		885
	5,900	*,†,b	Japan Drilling Co Ltd		0	^
	40,900		Japan Petroleum Exploration Co		881
	42,983	e	John Wood Group plc		284
	3,482,160		JX Holdings, Inc		15,896
	541,083	*	Keane Group, Inc		5,892
	204,438	*	Kelt Exploration Ltd		843
	55,694	*,e	Key Energy Services, Inc		226
	196,680	e	Keyera Corp		4,638
	45,959	g	Kinder Morgan Canada Ltd		548
	757,475		Kinder Morgan, Inc		15,157
	29,540	*	KLX Energy Services Holdings, Inc		743
	96,209		Koninklijke Vopak NV		4,608
	444,995		Kosmos Energy Ltd		2,772
	513,101		Kvaerner ASA		752
	438,105	*	Laredo Petroleum Holdings, Inc		1,354
	154,070	e	Liberty Oilfield Services, Inc		2,371
	56,022	*,e	Lilis Energy, Inc		66
	25,538		Lubelski Wegiel Bogdanka S.A.		316
	806,528		LUKOIL PJSC (ADR)		72,112
	157,477		Lundin Petroleum AB		5,333
	377,728		Magellan Midstream Partners LP		22,902
	36,166	e	Mammoth Energy Services, Inc		602
	2,073,698		Marathon Oil Corp		34,652
	1,589,889		Marathon Petroleum Corp		95,155
	2,222,148	*,e	Matador Resources Co		42,954
	133,782	*	Matrix Service Co		2,619
	364,955	*,e	McDermott International, Inc		2,715
	353,529	*	MEG Energy Corp		1,349
	219,162	*	Midstates Petroleum Co, Inc		2,141
	13,000		Modec, Inc		371
	890,677		MOL Hungarian Oil & Gas plc		10,214
	15,059	*,e	Montage Resources Corp		227
	84,425		Motor Oil Hellas Corinth Refineries S.A.		1,960
	130,780		Mullen Group Ltd		1,172
	191,227		Murphy Oil Corp		5,603
	1,156,115		Nabors Industries Ltd		3,977
	80,948		Naphtha Israel Petroleum Corp Ltd		515
	595,794		National Oilwell Varco, Inc		15,872
	16,951	*	Natural Gas Services Group, Inc		293
	11,809	*,e	NCS Multistage Holdings, Inc		61
	538,870	*,e	NEL ASA		364
	140,243	e	Neste Oil Oyj		14,950
	1,185,240		New Hope Corp Ltd		2,540
	142,060		New Zealand Refining Co Ltd		204
	21,362,000	*,e	Newocean Energy Holdings Ltd		6,096
	245,971	*	Newpark Resources, Inc		2,253
	408,293	*	NexGen Energy Ltd		660
	11,728	*,e	NextDecade Corp		65
	43,851	*	Nine Energy Service, Inc		993

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	480,565	*	Noble Corp plc	$	1,379
	320,618		Noble Energy, Inc		7,929
	196,061	e	Nordic American Tanker Shipping		396
	40,555	*,e	Northern Drilling Ltd		255
	253,966	*	Northern Oil And Gas, Inc		696
	70,571	*	Nostrum Oil & Gas plc		85
	117,888		Novatek PJSC (GDR)		20,206
	272,740	*	NuVista Energy Ltd		878
	583,553	*	Oasis Petroleum, Inc		3,525
	474,755	*	Obsidian Energy Ltd		130
	1,275,842		Occidental Petroleum Corp		84,461
	39,940	e	Ocean Yield ASA		296
	258,581	*	Oceaneering International, Inc		4,078
	55,175	*,e	Odfjell Drilling Ltd		173
	403,700		Offshore Oil Engineering Co Ltd		385
	2,346,500		Oil & Gas Development Co Ltd		2,457
	6,926,193		Oil Refineries Ltd		3,394
	1,180,928		Oil Search Ltd		6,570
	74,952	*	Oil States International, Inc		1,271
	185,493		OMV AG.		10,073
	991,971		ONEOK, Inc		69,279
	408,422	*	Ophir Energy plc		303
	1,761,696		Origin Energy Ltd		9,018
	102,684	*	Overseas Shipholding Group, Inc		235
	332,160		Pakistan Oilfields Ltd		1,056
	111,960		Pakistan State Oil Co Ltd		172
	18,591		Panhandle Oil and Gas, Inc (Class A)		292
	373,821	*	Par Pacific Holdings, Inc		6,658
	85,581	*,e	Paramount Resources Ltd (Class A)		456
	487,516	*	Parex Resources, Inc		7,632
	266,528		Parkland Fuel Corp		8,143
	8,474,875	*	Parsley Energy, Inc		163,565
	101,350		Pason Systems, Inc		1,479
	58,191		Patterson-UTI Energy, Inc		816
	6,260		Paz Oil Co Ltd		936
	182,678		PBF Energy, Inc		5,689
	110,259	*	PDC Energy, Inc		4,485
	199,194		Peabody Energy Corp		5,643
	679,935		Pembina Pipeline Income Fund		24,977
	576,500	*,e	Pengrowth Energy Trust		242
	14,611	*	Penn Virginia Corp		644
	177,604		Petrofac Ltd		1,132
	4,121,205		Petroleo Brasileiro S.A.		32,788
	7,778,719		Petroleo Brasileiro S.A. (Preference)		55,747
	433,602	*,e	Petroleum Geo-Services ASA		1,003
	1,523,100		Petron		188
	258,059		Petronas Dagangan BHD		1,583
	639,081		Petronet LNG Ltd		2,320
	225,680		Peyto Exploration & Development Corp		1,180
	1,209,976		Phillips 66		115,153
	844,800		Pilipinas Shell Petroleum Corp		795
	384,497	*	Pioneer Energy Services Corp		681
	322,876		Pioneer Natural Resources Co		49,168
	3,618,378		Plains All American Pipeline LP		88,686

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,751,855		Plains GP Holdings LP	$	43,656
	2,804,053		Polish Oil & Gas Co		4,573
	387,295		Polski Koncern Naftowy Orlen S.A.		9,858
	100,100	*,†	Poseidon Concepts Corp		0	^
	156,438	e	PrairieSky Royalty Ltd		2,107
	408,872	*	Precision Drilling Trust		970
	444,947	*,e	Premier Oil plc		544
	542,300		Prima Marine PCL		114
	36,280	*	Profire Energy, Inc		65
	580,105	*	ProPetro Holding Corp		13,076
	27,353,100	*	PT Bumi Resources Tbk		237
	2,820,000	*	PT Delta Dunia Petroindo Tbk		113
	1,027,900		PT Indika Energy Tbk		132
	3,787,866	*	PT Medco Energi Internasional Tbk		237
	2,143,800		PT Tambang Batubara Bukit Asam Tbk		633
	5,357,606		PT United Tractors Tbk		10,196
	1,475,821		PTT Exploration & Production PCL (Foreign)		5,836
	9,835,750		PTT PCL (Foreign)		14,790
	170,904		Qatar Gas Transport Co Ltd		976
	410,300		QGEP Participacoes S.A.		1,603
	473,746	*	Questar Market Resources, Inc		3,690
	40,855	*,e	Quintana Energy Services, Inc		177
	386,840	e	Range Resources Corp		4,348
	6,000,845		Reliance Industries Ltd		118,098
	255,990	*,e	Renewable Energy Group, Inc		5,622
	973,333		Repsol YPF S.A.		16,652
	8,036	*	Rex American Resources Corp		648
	22,614	*	RigNet, Inc		221
	122,367	*	Ring Energy, Inc		718
	5,243	*,e	Rosehill Resources, Inc		18
	1,536,790	*	Rosneft Oil Co PJSC (GDR)		9,651
	154,220	*	Rowan Cos plc		1,664
	7,761,369		Royal Dutch Shell plc (A Shares)		243,908
	5,267,887		Royal Dutch Shell plc (B Shares)		166,495
	33,217	e	RPC, Inc		379
	346,279	*	Saipem S.p.A		1,834
	36,300		San-Ai Oil Co Ltd		298
	302,031	*	SandRidge Energy, Inc		2,422
	2,959,437		Santos Ltd		14,329
	3,268,900	*	Sapurakencana Petroleum BHD		268
	880,151		Saras S.p.A.		1,631
	494,001	e	Sasol Ltd		15,403
	118,296		SBM Offshore NV		2,253
	3,036,187		Schlumberger Ltd		132,287
	6,430		Schoeller-Bleckmann Oilfield Equipment AG.		534
	56,831		Scorpio Tankers, Inc		1,128
	69,325	*	SEACOR Holdings, Inc		2,931
	20,360	*	SEACOR Marine Holdings, Inc		271
	214,590		Secure Energy Services, Inc		1,314
	50,503	*	Select Energy Services, Inc		607
	106,782	e	SemGroup Corp		1,574
	813,480	*	Senex Energy Ltd		214
	496,200		Serba Dinamik Holdings BHD		459

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50	*,†	Serval Integrated Energy Services	$	0
	830,096	*	Seven Generations Energy Ltd		5,994
	405,755		Shaanxi Coal Industry Co Ltd		538
	265,636		Shanxi Lu’an Environmental Energy Development Co Ltd		310
	323,500		Shanxi Xishan Coal & Electricity Power Co Ltd		300
	92,502		ShawCor Ltd		1,385
	40,700		Shell Refining Co Federation Of Malaya BHD		58
	107,600		Shinko Plantech Co Ltd		1,149
	94,095	e	Ship Finance International Ltd		1,161
	575,760	*	Showa Shell Sekiyu KK		19,218
	486,200		Siamgas & Petrochemicals PCL		141
	11,756	*	SilverBow Resources, Inc		270
	4,600		Sinanen Co Ltd		87
	576,000		Sinopec Kantons Holdings Ltd		262
	59,959		SK Energy Co Ltd		9,485
	7,464		SK Gas Co Ltd		601
	194,026		SM Energy Co		3,394
	51,183	*,e	Smart Sand, Inc		228
	1,771,083		Snam Rete Gas S.p.A.		9,111
	127,225		Soco International plc		114
	46,306		S-Oil Corp		3,655
	37,822	e	Solaris Oilfield Infrastructure, Inc		622
	464,393	*,e	Sound Energy plc		131
	1,069,280	*	Southwestern Energy Co		5,015
	290,718	*	SRC Energy, Inc		1,488
	510,128		Statoil ASA		11,182
	175,430		Stobart Group Ltd		347
	148,541		Subsea 7 S.A.		1,840
	2,352,794		Suncor Energy, Inc		76,252
	341,747	*	Superior Energy Services		1,596
	293,151	e	Surge Energy, Inc		290
	1,516,132		Surgutneftegaz (ADR) (London)		5,655
	231,300	*	Talos Energy, Inc		6,143
	286,813	*	Tamarack Valley Energy Ltd		522
	721,484		Targa Resources Investments, Inc		29,978
	345,197		Tatneft PJSC (ADR)		23,815
	652		TechnipFMC plc		15
	234,401		TechnipFMC plc (Euro OTC)		5,513
	19,415	e	Tecnicas Reunidas S.A.		546
	88,995	e	Teekay Corp		349
	271,407		Teekay Tankers Ltd (Class A)		263
	102,858	*,e	Tellurian, Inc		1,152
	29,814		Tenaris S.A.		420
	90,001	*	Tervita Corp		405
	161,711	*	Tetra Technologies, Inc		378
	169,568		TGS Nopec Geophysical Co ASA		4,631
	1,209,955		Thai Oil PCL (Foreign)		2,650
	55,773	*	Tidewater, Inc		1,293
	215,161		TORC Oil & Gas Ltd		742
	14,647		TORM plc		110
	58,057		Total Energy Services, Inc		421
	2,562,881	e	Total S.A.		142,623
	194,403		Tourmaline Oil Corp		3,003

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,500		Toyo Kanetsu K K	$	45
	1,166,858	e	TransCanada Corp		52,408
	2,541,037	*	Transocean Ltd (NYSE)		22,132
	373,698	*	Trican Well Service Ltd		358
	977,846	*	Tullow Oil plc		3,064
	221,187		Tupras Turkiye Petrol Rafine		4,961
	312,994		Ultrapar Participacoes S.A.		3,757
	1,416,862	*	UMW Oil & Gas Corp BHD		99
	198,524	*	Unit Corp		2,827
	244,139	*,e	Uranium Energy Corp		342
	98,409	e	US Silica Holdings Inc		1,708
	1,269,646		Valero Energy Corp		107,704
	185,266	*,e	Vallourec SA		436
	15,582		Verbio AG.		121
	106,288	e	Vermilion Energy, Inc		2,624
	650,590	g	Viva Energy Group Ltd		1,134
	449,494	*	W&T Offshore, Inc		3,102
	462,158		Washington H Soul Pattinson & Co Ltd		8,649
	1,306,910	*,e	Weatherford International Ltd		912
	550,540	e	Whitecap Resources, Inc		1,899
	4,098,030		Whitehaven Coal Ltd		11,823
	65,571	*,e	Whiting Petroleum Corp		1,714
	5,564,630		Williams Cos, Inc		159,816
	752,000		Wison Engineering Services Co Ltd		107
	954,974		Woodside Petroleum Ltd		23,445
	209,663		World Fuel Services Corp		6,057
	489,713		WorleyParsons Ltd		4,915
	2,378,003	*	WPX Energy, Inc		31,176
	2,061,066		Yanzhou Coal Mining Co Ltd		2,028
	328,900		Yinson Holdings BHD		371
	1,348,000	*	Yuan Heng Gas Holdings Ltd		103
	202,622		Z Energy Ltd		864
	52,604	*,e	Zion Oil & Gas, Inc		41
			TOTAL ENERGY		6,406,465
FOOD & STAPLES RETAILING - 1.4%
	570,568		Aeon Co Ltd		11,951
	16,200		Ain Pharmaciez Inc		1,218
	2,643		Al Meera Consumer Goods Co		108
	742,620		Alimentation Couche Tard, Inc		43,745
	112,137		Almacenes Exito S.A.		511
	33,917		Andersons, Inc		1,093
	141,844		Arcs Co Ltd		3,124
	1,006,300		Atacadao Distribuicao Comercio e Industria Ltd		5,163
	120,827	*,g	Avenue Supermarts Ltd		2,564
	63,165	e	Axfood AB		1,176
	33,000		Axial Retailing, Inc		1,017
	7,000		Belc Co Ltd		317
	1,049,400		Berli Jucker PCL		1,640
	7,055		BGF retail Co Ltd		1,358
	297,857		Bid Corp Ltd		6,157
	181,482		BIM Birlesik Magazalar AS		2,480
	923,202		Carrefour S.A.		17,243

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	69,630		Casey’s General Stores, Inc	$	8,966
	53,888	e	Casino Guichard Perrachon S.A.		2,336
	87,100		Cawachi Ltd		1,394
	1,162,255		Centros Comerciales Sudamericanos S.A.		2,012
	26,391	*	Chefs’ Warehouse Holdings, Inc		819
	1,216,261		Cia Brasileira de Distribuicao Grupo Pao de Acucar		28,411
	33,096		CJ Freshway Corp		969
	221,684		Clicks Group Ltd		2,830
	10,460		Cocokara Fine Holdings, Inc		416
	1,210,020	*	Coles Group Ltd		10,181
	44,394		Colruyt S.A.		3,280
	5,252,400		Cosco Capital, Inc		765
	11,100		Cosmos Pharmaceutical Corp		1,922
	1,546,551		Costco Wholesale Corp		374,482
	10,400,429		CP Seven Eleven PCL (Foreign)		24,508
	44,100		Create SD Holdings Co Ltd		1,039
	3,100		Daikokutenbussaan Co Ltd		108
	346,800		Dairy Farm International Holdings Ltd		2,911
	42,940	*,g	Dino Polska S.A.		1,352
	217,537	e,g	Dis-Chem Pharmacies Ltd		365
	340,269	e	Distribuidora Internacional de Alimentacion S.A.		249
	20,182		Dongsuh Co, Inc		351
	78,762		E-Mart Co Ltd		11,948
	414,184		Empire Co Ltd		8,967
	178,108		Eurocash S.A.		1,015
	541,132	e	FamilyMart Co Ltd		13,794
	5,900		Genky DrugStores Co Ltd		128
	93,988		George Weston Ltd		6,758
	35,000		Growell Holdings Co Ltd		1,189
	190,900	e	Grupo Comercial Chedraui S.a. DE C.V.		370
	29,725		GS Retail Co Ltd		1,026
	18,100		Halows Co Ltd		359
	135,400		Heiwado Co Ltd		2,885
	27,683		Hyundai Greenfood Co Ltd		349
	137,669	e	ICA Gruppen AB		5,527
	18,349		Ingles Markets, Inc (Class A)		507
	3,400		Itochu-Shokuhin Co Ltd		145
	3,716,965		J Sainsbury plc		11,406
	6,600	*	Japan Meat Co Ltd		118
	192,264		Jeronimo Martins SGPS S.A.		2,839
	31,700	e	Kansai Super Market Ltd		296
	50,000		Kato Sangyo Co Ltd		1,652
	52,671		Kesko Oyj (B Shares)		3,207
	37,300		Kobe Bussan Co Ltd		1,417
	2,077,850		Koninklijke Ahold Delhaize NV		55,320
	1,874,006	n	Kroger Co		46,101
	20,900	e	Kusuri no Aoki Holdings Co Ltd		1,498
	263,800	*	La Comer SAB de C.V.		285
	63,780		Lawson, Inc		3,538
	42,800		Life Corp		920
	279,650		Loblaw Cos Ltd		13,795
	426,627		Magnit PJSC (GDR)		6,015
	31,205		Majestic Wine plc		91
	19,521		MARR S.p.A.		445

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,636	e	Massmart Holdings Ltd	$	329
	54,500		Matsumotokiyoshi Holdings Co Ltd		1,821
	517,097		Metcash Ltd		974
	384,538		Metro Wholesale & Food Specialist AG.		6,387
	368,769		Metro, Inc		13,577
	28,527	*	Migros Ticaret AS		70
	98,800		Ministop Co Ltd		1,530
	152,647	*	Natural Grocers by Vitamin C		1,824
	2,800		Nihon Chouzai Co Ltd		95
	2,300		Nishimoto Co Ltd		90
	77,293		North West Co, Inc		1,666
	12,000		Okuwa Co Ltd		121
	578,213	*	Performance Food Group Co		22,920
	1,239,646		Pick’n Pay Stores Ltd		5,706
	1,003,822		President Chain Store Corp		9,896
	27,032		Pricesmart, Inc		1,592
	13,700		Qol Co Ltd		187
	185,902		Raia Drogasil S.A.		3,100
	100,905	e	Rallye S.A.		1,194
	14,588		Rami Levi Chain Stores Hashikma Marketing Ltd		738
	33,900	e	Retail Partners Co Ltd		357
	1,339,693	*,e	Rite Aid Corp		851
	607,100		Robinsons Retail Holdings, Inc		913
	64,081	*	RP-SG Retail Ltd		148
	47,279		Ryoshoku Ltd		1,238
	11,800		San-A Co Ltd		473
	733,713		Seven & I Holdings Co Ltd		27,683
	1,576,100		Sheng Siong Group Ltd		1,211
	5,800	e	Shoei Foods Corp		165
	768,752		Shoprite Holdings Ltd		8,469
	78,297		Shufersal Ltd		506
	273,960	*	Smart & Final Stores, Inc		1,353
	1,463,854	*	SMU S.A.		381
	9,400		Sogo Medical Holdings Co Ltd		144
	120,784	*	Sok Marketler Ticaret AS.		197
	4,537,930		Sonae SPGS S.A.		4,698
	220,988		Spar Group Ltd		2,944
	244,597		Spartan Stores, Inc		3,882
	433,000		Springland International Holdings Ltd		89
	296,876	*	Sprouts Farmers Market, Inc		6,395
	23,100		Sugi Pharmacy Co Ltd		1,019
	2,501,027		Sun Art Retail Group Ltd		2,440
	55,776		Sundrug Co Ltd		1,539
	370,330		Sysco Corp		24,723
	269,000		Taiwan TEA Corp		140
	34,999,586		Tesco plc		105,926
	32,777		Tsuruha Holdings, Inc		2,670
	149,206	*	United Natural Foods, Inc		1,973
	215,650		United Super Markets Holdings, Inc		2,136
	672,350	*	US Foods Holding Corp		23,472
	63,500		Valor Co Ltd		1,541
	10,625		Village Super Market (Class A)		290
	910,165		Walgreens Boots Alliance, Inc		57,586

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,396,250		Wal-Mart de Mexico SAB de C.V.	$	22,459
	4,144,742		Walmart, Inc		404,237
	12,339		Weis Markets, Inc		504
	904,553		WM Morrison Supermarkets plc		2,683
	1,368,950		Woolworths Ltd		29,564
	104,698		X5 Retail Group NV (GDR)		2,609
	6,600		Yakuodo Co Ltd		159
	21,000		Yaoko Co Ltd		1,033
	150,900	e	Yokohama Reito Co Ltd		1,220
	216,300		Yonghui Superstores Co Ltd		278
	3,045	*,e	Zur Rose Group AG.		265
			TOTAL FOOD & STAPLES RETAILING		1,600,821
FOOD, BEVERAGE & TOBACCO - 4.0%
	170,806	*,e	22nd Century Group, Inc		292
	1,475,076	*,e	a2 Milk Co Ltd		14,433
	199,477		AAK AB		2,978
	6,801		Agrana Beteiligungs AG.		136
	26,807		AGT Food & Ingredients, Inc		359
	384,577		Ajinomoto Co, Inc		6,156
	4,483		Alico, Inc		122
	3,630,925		Altria Group, Inc		208,524
	5,723,374		AMBEV S.A.		24,602
	139,990		Anadolu Efes Biracilik Ve Malt Sanayii AS		440
	725,845		Anheuser-Busch InBev S.A.		60,930
	74,400		Anhui Kouzi Distillery Co Ltd		603
	841,656		Archer Daniels Midland Co		36,301
	10,600		Ariake Japan Co Ltd		569
	622,966	*	Aryzta AG.		854
	478,369		Asahi Breweries Ltd		21,354
	944,548		Associated British Foods plc		30,035
	211,740		Astral Foods Ltd		2,461
	776,000		Ausnutria Dairy Corp Ltd		1,036
	346,792		Austevoll Seafood ASA		4,106
	219,839	*,e	Australian Agricultural Co Ltd		159
	17,391		Avanti Feeds Ltd		103
	191,173		AVI Ltd		1,196
	117,720	e	B&G Foods, Inc (Class A)		2,875
	36,674		Bakkafrost P		1,815
	112,572	e,g	Bakkavor Group plc		183
	6,661		Barry Callebaut AG.		12,040
	115,353	e	Bega Cheese Ltd		375
	129,600		Beijing Dabeinong Technology Group Co Ltd		103
	1,236		Bell AG.		356
	49,928	*,e	Bellamy’s Australia Ltd		395
	2,455		Binggrae Co Ltd		145
	107,000	*	Biostime International Holdings Ltd		671
	11,929		Bonduelle S.C.A.		350
	10,055	*	Boston Beer Co, Inc (Class A)		2,963
	410,800		Boustead Plantations BHD		77
	431,186	*	BRF S.A.		2,494
	55,814		Britannia Industries Ltd		2,484
	138,304		British American Tobacco Malaysia BHD		1,225
	3,186,778		British American Tobacco plc		132,945

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,389		British American Tobacco plc (ADR)	$	58
	1,257,770		Britvic plc		15,610
	91,200		Brown-Forman Corp (Class A)		4,667
	472,270		Brown-Forman Corp (Class B)		24,926
	632,000		Bumitama Agri Ltd		310
	810,149		Bunge Ltd		42,995
	263,267		C&C Group plc		946
	19,142	e	Calavo Growers, Inc		1,605
	62,174	e	Calbee, Inc		1,679
	127,532		Cal-Maine Foods, Inc		5,692
	80,800		Camil Alimentos S.A.		141
	161,983	e	Campbell Soup Co		6,176
	144,800		Carabao Group PCL		248
	153,272		Carlsberg AS (Class B)		19,166
	210,400		Carlsberg Brewery-Malay BHD		1,379
	120,455	*,e	Castle Brands, Inc		84
	25,666		CCL Products India Ltd		105
	20,649	*,e	Celsius Holdings, Inc		88
	592,600		Century Pacific Food, Inc		176
	882,000		Charoen Pokphand Enterprise		1,483
	11,386,126		Charoen Pokphand Foods PCL		9,153
	1,904,000		China Agri-Industries Holdings Ltd		653
	4,375,889	*,†,e	China Huishan Dairy Holdings Co Ltd		6
	370,000	*,†	China Huiyuan Juice Group Ltd		0	^
	2,464,946	*	China Mengniu Dairy Co Ltd		9,174
	1,020,000	*	China Modern Dairy Holdings		169
	1,439,164		China Resources Beer Holdings Company Ltd		6,070
	45,700		Chubu Shiryo Co Ltd		483
	420,364		Cia Cervecerias Unidas S.A.		6,018
	6,737		CJ CheilJedang Corp		1,918
	117,509		Cloetta AB		304
	460,371		Coca-Cola Amatil Ltd		2,829
	5,773		Coca-Cola Bottling Co Consolidated		1,662
	12,006,458		Coca-Cola Co		562,623
	119,117		Coca-Cola Embonor S.A.		283
	654,033		Coca-Cola European Partners plc (Class A)		33,840
	440,327		Coca-Cola Femsa S.A. de C.V.		2,911
	288,237		Coca-Cola HBC AG.		9,829
	42,423		Coca-Cola Icecek AS		232
	120,300		Coca-Cola West Japan Co Ltd		3,060
	5,976,000		Cofco International Ltd		2,361
	417,000	*,e	COFCO Meat Holdings Ltd		152
	7,231,358		ConAgra Brands, Inc		200,598
	431,137		Constellation Brands, Inc (Class A)		75,591
	14,401		Corby Spirit and Wine Ltd		196
	201,051		Costa Group Holdings Ltd		735
	203,565		Cott Corp (Toronto)		2,970
	49,767	*	Craft Brewers Alliance, Inc		696
	42,557		Cranswick plc		1,511
	132,144		Daesang Corp		3,302
	212,740		Dairy Crest Group plc		1,723
	2,730,500	g	Dali Foods Group Co Ltd		2,039
	868,790		Danone		66,898

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	264,905	*	Darling International, Inc	$	5,735
	6,060,775		Davide Campari-Milano S.p.A		59,545
	116,448	e	Dean Foods Co		353
	3,724,837		Diageo plc		152,428
	643		Dongwon F&B Co Ltd		145
	749		Dongwon Industries Co Ltd		154
	5,100	e	Dydo Drinco, Inc		230
	1,214,000	*,†,e	Dynasty Fine Wines Group Ltd		2
	2,376,215		Eastern Tobacco		2,495
	441,958		Easy Bio, Inc		2,684
	66,922	e	Ebro Puleva S.A.		1,431
	288,957		Embotelladora Andina S.A.		1,055
	338,601		Embotelladoras Arca SAB de C.V.		1,886
	2,398		Emmi AG.		2,111
	27,100	e	Ezaki Glico Co Ltd		1,426
	14,894	*	Farmer Bros Co		298
	8,784		Farmsco		63
	398,200		Feed One Co Ltd		634
	881,700		Felda Global Ventures Holdings BHD		255
	1,246,443		Fevertree Drinks plc		49,059
	305,900		First Resources Ltd		370
	150,709		Flowers Foods, Inc		3,213
	2,147,563	e	Fomento Economico Mexicano S.A. de C.V.		19,821
	19,318		ForFarmers NV		159
	39,600		Foshan Haitian Flavouring & Food Co Ltd		510
	125,500		Fraser & Neave Holdings BHD		1,072
	53,757	e	Freedom Foods Group Ltd		172
	123,018		Fresh Del Monte Produce, Inc		3,325
	141,779	*	Freshpet, Inc		5,996
	29,573		Fuji Oil Co Ltd		1,014
	10,232		Fujicco Co Ltd		199
	6,200		Fujiya Co Ltd		122
	856,741	*	Future Consumer Ltd		554
	258,635		Futuris Corp Ltd		1,117
	685,120		General Mills, Inc		35,455
	262,114		Genting Plantations BHD		681
	120,100		GFPT PCL (Foreign)		53
	168,803		Glanbia plc		3,302
	23,469		Godfrey Phillips India Ltd		392
	3,762,134		Golden Agri-Resources Ltd		778
	129,299		GrainCorp Ltd-A		843
	2,519,541		Great Wall Enterprise Co		2,888
	269,854		Greencore Group plc		710
	9,254	e	Greenyard Foods		35
	28,940		Grieg Seafood ASA		351
	295,440	e	Gruma SAB de C.V.		3,017
	1,274,516		Grupo Bimbo S.A. de C.V. (Series A)		2,665
	119,195	e	Grupo Herdez SAB de C.V.		266
	541,159	*,e	Hain Celestial Group, Inc		12,512
	100,970		Heineken Holding NV		10,131
	246,084		Heineken NV		26,010
	62,800		Henan Shuanghui Investment & Development Co Ltd		241
	325,780		Hershey Co		37,409

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,700		Hokuto Corp	$	272
	258,846	e	Hormel Foods Corp		11,586
	122,502	*	Hostess Brands, Inc		1,531
	79,048	e	Hotel Chocolat Group Ltd		345
	46,652	e	House Foods Corp		1,880
	1,280,031		Imperial Tobacco Group plc		43,786
	4,775,230		Indofood CBP Sukses Makmur Tbk		3,132
	120,300		Industrias Bachoco SAB de C.V.		462
	1,807,008	e	Inghams Group Ltd		5,610
	114,020		Ingredion, Inc		10,797
	83,200		Inner Mongolia Yili Industrial Group Co Ltd		359
	1,366,597		IOI Corp BHD		1,494
	5,762,720		ITC Ltd		24,717
	43,500		Ito En Ltd		2,264
	87,100	e	Itoham Yonekyu Holdings, Inc		543
	18,254		J&J Snack Foods Corp		2,899
	181,590		J.M. Smucker Co		21,155
	1,532,121		Japan Tobacco, Inc		37,947
	2,641,700		Japfa Ltd		1,270
	716,397		JBS S.A.		2,913
	358,609	e	Jeil Holdings Co Ltd		3,670
	24,200		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		469
	18,078		Jinro Ltd		295
	9,998		John B. Sanfilippo & Son, Inc		719
	25,100		J-Oil Mills, Inc		935
	225,516		Juhayna Food Industries		175
	53,073		Kagome Co Ltd		1,494
	9,800		Kameda Seika Co Ltd		470
	6,811		Kaveri Seed Co Ltd		45
	250,273		Kellogg Co		14,361
	4,900	e	Kenko Mayonnaise Co Ltd		97
	226,272		Kerry Group plc (Class A)		25,255
	322,900	e	Keurig Dr Pepper, Inc		9,032
	9,200		KEY Coffee, Inc		173
	1,164,460		Khon Kaen Sugar Industry PCL		112
	192,171		Kikkoman Corp		9,449
	1,115,931		Kirin Brewery Co Ltd		26,697
	42,045		Koninklijke Wessanen NV		512
	24,000		Kotobuki Spirits Co Ltd		921
	1,486,253		Kraft Heinz Co		48,526
	71,008		KRBL Ltd		345
	138,702		KT&G Corp		12,648
	319,852		Kuala Lumpur Kepong BHD		1,943
	16,500		Kweichow Moutai Co Ltd		2,093
	6,725		KWS Saat AG.		465
	5,138		La Doria S.p.A		46
	183,334		Lamb Weston Holdings, Inc		13,739
	22,901		Lancaster Colony Corp		3,588
	36,744	*	Landec Corp		451
	912,495		Leroy Seafood Group ASA		6,629
	413,028		Lien Hwa Industrial Corp		451
	30,019		Limoneira Co		706
	2,804		Lindt & Spruengli AG.		19,065

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	86		Lindt & Spruengli AG. (Registered)	$	6,728
	1,198		Lotte Chilsung Beverage Co Ltd		1,869
	881		Lotte Confectionery Co Ltd		144
	3,315		Lotte Samkang Co Ltd		1,854
	19,200		Luzhou Laojiao Co Ltd		190
	65,780		M Dias Branco S.A.		730
	21,944		Maeil Dairies Co Ltd		1,671
	108,973		Maple Leaf Foods, Inc		2,521
	118,800	*	Marfrig Global Foods S.A.		181
	46,600		Marudai Food Co Ltd		793
	138,800		Maruha Nichiro Corp		4,973
	82,332		McCormick & Co, Inc		12,402
	26,900		Megmilk Snow Brand Co Ltd		656
	124,901		MEIJI Holdings Co Ltd		10,153
	22,202	e	MGP Ingredients, Inc		1,713
	46,800	*	Minerva S.A.		84
	25,000		Mitsui Sugar Co Ltd		616
	171,250		Molson Coors Brewing Co (Class B)		10,215
	6,044,555		Mondelez International, Inc		301,744
	3,371,966	*	Monster Beverage Corp		184,042
	21,460		Morinaga & Co Ltd		933
	26,400		Morinaga Milk Industry Co Ltd		898
	8,121		Muhak Co Ltd		91
	21,200		Muyuan Foodstuff Co Ltd		200
	6,000		Nagatanien Co Ltd		135
	84,000		Namchow Chemical Industrial Ltd		146
	165		Namyang Dairy Products Co Ltd		89
	14,164	e	National Beverage Corp		818
	20,966	*	Naturecell Co Ltd		233
	32,738		Nestle India Ltd		5,176
	52,700		Nestle Malaysia BHD		1,895
	4,310,398		Nestle S.A.		410,998
	70,100		New Hope Liuhe Co Ltd		139
	62,300		Nichirei Corp		1,539
	5,900		Nippon Beet Sugar Manufacturing Co Ltd		102
	114,700		Nippon Flour Mills Co Ltd		1,971
	69,172	e	Nippon Meat Packers, Inc		2,492
	394,066		Nippon Suisan Kaisha Ltd		3,013
	92,400		Nisshin Oillio Group Ltd		2,734
	173,013		Nisshin Seifun Group, Inc		3,977
	50,038		Nissin Food Products Co Ltd		3,443
	1,705		Nong Shim Co Ltd		464
	954		Nong Shim Holdings Co Ltd		72
	7,339	e	Norway Royal Salmon ASA		170
	26,531		Oceana Group Ltd		142
	377,234		Origin Enterprises plc		2,226
	11,939		Orion Corp		195
	18,736		Orion Corp/Republic of Korea		1,652
	14,027		Orior AG.		1,126
	857,203		Orkla ASA		6,583
	1,206		Ottogi Corp		820
	734,016		PAN Fish ASA		16,399
	2,897,694		PepsiCo, Inc		355,112
	181,202		Pernod-Ricard S.A.		32,537

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,337,886		Philip Morris International, Inc	$	383,426
	74,691	*	Pilgrim’s Pride Corp		1,665
	70,604		Pioneer Foods Ltd		392
	58,511	*	Post Holdings, Inc		6,401
	483,529		PPB Group BHD		2,169
	425,260	*	Premier Foods plc		202
	38,613	e	Premium Brands Holdings Corp		2,225
	55,100		Prima Meat Packers Ltd		1,024
	134,452	*	Primo Water Corp		2,079
	5,689,300		PT Austindo Nusantara Jaya		404
	5,001,300	*	PT BW Plantation Tbk		56
	5,524,218		PT Charoen Pokphand Indonesia Tbk		2,485
	422,211		PT Gudang Garam Tbk		2,470
	26,753,900		PT Hanjaya Mandala Sampoerna Tbk		7,058
	3,984,591		PT Indofood Sukses Makmur Tbk		1,785
	16,811,300	*	PT Inti Agri Resources Tbk		215
	14,982,200		PT Japfa Comfeed Indonesia Tbk		1,848
	1,628,300		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		119
	1,778,900		PT Salim Ivomas Pratama Tbk		55
	1,878,100		PT Sawit Sumbermas Sarana Tbk		141
	5,343,700		PT Tunas Baru Lampung Tbk		315
	762		Pulmuone Co Ltd		66
	9,871	*,e	Pyxus International, Inc		236
	62,800		Q.P. Corp		1,509
	2,308,400		QL Resources BHD		3,893
	25,008		Radico Khaitan Ltd		143
	22,495		Remy Cointreau S.A.		3,000
	6,969,100		RFM Corp		634
	93,447	e	Rhodes Food Group Pty Ltd		106
	5,300		Riken Vitamin Co Ltd		168
	10,100		Rock Field Co Ltd		149
	126,892	e	Rogers Sugar, Inc		573
	7,000		Rokko Butter Co Ltd		135
	135,467		Royal Unibrew A.S.		10,004
	10,100		S Foods, Inc		371
	16,555		Sakata Seed Corp		564
	308,110		Salmar ASA		14,799
	1,225		Samlip General Foods Co Ltd		154
	1,796		Samyang Corp		96
	1,619		Samyang Foods Co Ltd		123
	9,777		Samyang Holdings Corp		711
	24,241	e	Sanderson Farms, Inc		3,196
	220,900		Sao Martinho S.A.		1,035
	296,200		Sapporo Holdings Ltd		6,481
	231,667		Saputo, Inc		7,896
	35,907		Scandi Standard AB		236
	101,021	g	Scandinavian Tobacco Group A.S.		1,260
	8,910	e	Schouw & Co		663
	783		Seaboard Corp		3,355
	53,381		Select Harvests Ltd		231
	8,694	*	Seneca Foods Corp		214
	24,937		Shanxi Xinghuacun Fen Wine Factory Co Ltd		224

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,700		Showa Sangyo Co Ltd	$	1,156
	1,699,160		Sime Darby Plantation BHD		2,091
	583,440	*	Simply Good Foods Co		12,013
	454,600		SLC Agricola S.A.		4,767
	452,861		Standard Foods Corp		762
	3,400		Starzen Co Ltd		116
	125,311		Stock Spirits Group plc		375
	33,871		Strauss Group Ltd		812
	116,743		Suedzucker AG.		1,492
	169,983		Suntory Beverage & Food Ltd		7,995
	255,609	e	Swedish Match AB		13,042
	145,680	*,e	Synlait Milk Ltd		1,053
	85,700		Takara Holdings, Inc		1,016
	293,100		Taokaenoi Food & Marketing PCL		87
	430,582		Tassal Group Ltd		1,487
	158,107		Tata Tea Ltd		465
	697,019		Tate & Lyle plc		6,593
	1,342,209		Thai Union Group PCL		817
	778,900		Thai Vegetable Oil PCL (Foreign)		657
	586,600		Thaifoods Group PCL		55
	1,173,000	*	Tibet 5100 Water Resources Holdings Ltd		365
	132,495		Tiger Brands Ltd		2,438
	1,447,190		Tingyi Cayman Islands Holding Corp		2,389
	52,309		Tongaat Hulett Ltd		78
	70,300		Tongwei Co Ltd		127
	20,125	e	Tootsie Roll Industries, Inc		749
	65,536		Toyo Suisan Kaisha Ltd		2,498
	627,796		Treasury Wine Estates Ltd		6,664
	131,777	*	TreeHouse Foods, Inc		8,506
	347,579		Tsingtao Brewery Co Ltd		1,640
	14,500		Tsingtao Brewery Co Ltd (Class A)		93
	110,000		Ttet Union Corp		364
	56,283		Turning Point Brands, Inc		2,594
	440,727		Tyson Foods, Inc (Class A)		30,600
	83,735		Ulker Biskuvi Sanayi AS		256
	1,219,000		Uni-President China Holdings Ltd		1,196
	7,314,977		Uni-President Enterprises Corp		17,775
	390,442	*	United Spirits Ltd		3,119
	50,324		Universal Corp		2,900
	626,094		Universal Robina		1,812
	63,843		Varun Beverages Ltd		799
	124,620		Vector Group Ltd		1,345
	1,803		Venky’s India Ltd		59
	3,863	e	Vilmorin & Cie		205
	253,770		Vina Concha y Toro S.A.		529
	23,754		Viscofan S.A.		1,487
	3,671,614		Want Want China Holdings Ltd		3,054
	6,000		Warabeya Nichiyo Co Ltd		99
	772,000	*	Wei Chuan Food Corp		608
	9,551,693	g	WH Group Ltd		10,217
	3,375,288		Wilmar International Ltd		8,253
	61,500		Wuliangye Yibin Co Ltd		868
	155,730		Yakult Honsha Co Ltd		10,919
	93,532	*	Yamazaki Baking Co Ltd		1,520

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	858,000		Yihai International Holding Ltd	$	3,822
			TOTAL FOOD, BEVERAGE & TOBACCO		4,622,034
HEALTH CARE EQUIPMENT & SERVICES - 4.8%
	5,768,705		Abbott Laboratories		461,150
	53,506	*	Abiomed, Inc		15,281
	84,037	*,e	Acadia Healthcare Co, Inc		2,463
	170,211	*	Accuray, Inc		812
	40,318	*	Addus HomeCare Corp		2,564
	650,637	e	Advanced Medical Solutions Group plc		2,682
	372,094	*	AGFA-Gevaert NV		1,549
	194,000	g	AK Medical Holdings Ltd		107
	275,436		Alfresa Holdings Corp		7,849
	9,480,659	*,e	Alibaba Health Information Technology Ltd		10,979
	251,470	*,n	Align Technology, Inc		71,500
	28,000	*	Alliar Medicos A Frente S.A.		104
	237,646	*	Allscripts Healthcare Solutions, Inc		2,267
	126,313	e	Ambu A.S.		3,351
	79,827	*	Amedisys, Inc		9,839
	33,516	*	American Renal Associates Holdings, Inc		206
	242,234		AmerisourceBergen Corp		19,262
	56,320	*	AMN Healthcare Services, Inc		2,652
	335,936		Amplifon S.p.A.		6,556
	54,221	*	Angiodynamics, Inc		1,239
	151,321		Ansell Ltd		2,734
	199,094	*,e	Antares Pharma, Inc		603
	561,944		Anthem, Inc		161,267
	97,567		Apollo Hospitals Enterprise Ltd		1,728
	8,010	*,e	Apollo Medical Holdings, Inc		147
	134,347		Arjo AB		495
	24,835		As One Corp		1,976
	104,600	*	Asahi Intecc Co Ltd		4,926
	46,601		Ascom Holding AG.		625
	126,306	*	AtriCure, Inc		3,384
	5,084		Atrion Corp		4,467
	61,229	g	Attendo AB		308
	1,088,192		Australian Pharmaceutical Industries Ltd		1,173
	58,349	*	Avanos Medical, Inc		2,490
	39,174	*,e	AxoGen, Inc		825
	8,792	*	Axonics Modulation Technologies, Inc		211
	760,850		Bangkok Chain Hospital PCL		408
	3,335,645		Bangkok Dusit Medical Services PCL (Foreign)		2,607
	2,279,019		Baxter International, Inc		185,307
	278,524		Becton Dickinson & Co		69,556
	17,502	*,e,g	Biocartis NV		224
	27,292		BioMerieux		2,257
	172,344	*	BioScrip, Inc		345
	49,316	*	BioTelemetry, Inc		3,088
	70,600		BML, Inc		2,051
	6,744		Boditech Med, Inc		72
	4,012,194	*	Boston Scientific Corp		153,988
	377,742	*	Brookdale Senior Living, Inc		2,486
	357,365		Bumrungrad Hospital PCL (Foreign)		2,022

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,944		Cantel Medical Corp	$	2,404
	60,831	*	Capital Senior Living Corp		243
	786,209		Cardinal Health, Inc		37,856
	116,739	*	Cardiovascular Systems, Inc		4,513
	91,111		Carl Zeiss Meditec AG.		7,614
	171,128	*	Castlight Health, Inc		642
	29,277		Cellavision AB		880
	919	*	Celltrion Healthcare Co Ltd		54
	690,881	*	Centene Corp		36,686
	293,314	*	Cerner Corp		16,780
	242,261	*	Cerus Corp		1,509
	30,818		Chemed Corp		9,864
	2,330,000	*	China Medical & HealthCare Group Ltd		53
	449,000		China Resources Phoenix Healthcare Holdings Co Ltd		323
	714,500		Chularat Hospital PCL		43
	1,099,091	n	Cigna Corp		176,756
	366,000	*,e	C-Mer Eye Care Holdings Ltd		233
	93,634		Cochlear Ltd		11,545
	84,133		Coloplast AS		9,235
	32,374		CompuGroup Medical AG.		1,909
	15,992	e	Computer Programs & Systems, Inc		475
	40,284		Conmed Corp		3,351
	2,116,516	g	ConvaTec Group plc		3,905
	97,392		Cooper Cos, Inc		28,845
	12,241	*	Corvel Corp		799
	110,791	*	Covetrus, Inc		3,529
	49,077	*	Cross Country Healthcare, Inc		345
	43,569	*	CryoLife, Inc		1,271
	37,801	*,e	CryoPort, Inc		488
	32,153	*	Cutera, Inc		568
	38,297	e	CVS Group plc		300
	4,366,627		CVS Health Corp		235,492
	62,600	*,e	CYBERDYNE, Inc		388
	36,437	*,e	CytoSorbents Corp		276
	1,432,323		Danaher Corp		189,095
	125,663	*	DaVita, Inc		6,822
	4,669		Dentium Co Ltd		252
	427,469		Dentsply Sirona, Inc		21,198
	462,214	*	DexCom, Inc		55,050
	18,087		DiaSorin S.p.A.		1,824
	5,582	*	DIO Corp		186
	69,499	*	Diplomat Pharmacy, Inc		404
	32,038	g	Dr Lal PathLabs Ltd		483
	4,351		Draegerwerk AG.		206
	1,827		Draegerwerk AG. & Co KGaA		78
	1,197,427	*	Edwards Lifesciences Corp		229,104
	17,800		Eiken Chemical Co Ltd		420
	4,671	e	El.En. S.p.A		99
	76,900	*,e	Elan Corp		1,030
	9,058	*,e	ElectroCore LLC		63
	343,493	e	Elekta AB (B Shares)		4,279
	101,067		EMIS Group plc		1,382
	330,053		Encompass Health Corp		19,275

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	106,002		Ensign Group, Inc	$	5,426
	113,952		Estia Health Ltd		218
	189,000	*,e	Evolent Health, Inc		2,378
	128,825	e	Extendicare, Inc		727
	182,519		Fagron NV		3,280
	803,276		Fisher & Paykel Healthcare Corp		8,599
	100,400		Fleury S.A.		523
	7,668	*	FONAR Corp		157
	218,864	*	Fortis Healthcare Ltd		429
	253,627		Fresenius Medical Care AG.		20,498
	343,157		Fresenius SE		19,180
	71,285	g	Galenica AG.		3,532
	4,576,000	g	Genertec Universal Medical Group Company Limited		4,167
	649,092	*	Genesis Health Care, Inc		935
	99,498	*,e	GenMark Diagnostics, Inc		705
	130,212		Getinge AB (B Shares)		1,518
	24,000		Ginko International Co Ltd		182
	41,616	*	Glaukos Corp		3,261
	95,010	*	Globus Medical, Inc		4,694
	594,270	e	GN Store Nord		27,599
	832,000	e	Golden Meditech Holdings Ltd		85
	58,300		Green Hospital Supply, Inc		2,398
	200,900	*,e	Guardant Health, Inc		15,409
	10,498		Guerbet		632
	212,870	*	Haemonetics Corp		18,622
	1,256,300		Hartalega Holdings BHD		1,427
	1,239,736		HCA Holdings, Inc		161,637
	449,600		Healius Ltd		840
	136,198	*	HealthEquity, Inc		10,076
	1,021,787		Healthscope Ltd		1,763
	88,806		HealthStream, Inc		2,492
	20,374	*,e	Helius Medical Technologies, Inc		136
	170,074	*	Henry Schein, Inc		10,223
	8,629	*	Heska Corp		734
	179,399		Hill-Rom Holdings, Inc		18,991
	18,160	*	HLB Life Science CO Ltd		258
	387,394	*	HMS Holdings Corp		11,471
	26,500		Hogy Medical Co Ltd		936
	2,653,995	*	Hologic, Inc		128,453
	306,316		Hoya Corp		20,290
	41,250		Huadong Medicine Co Ltd		200
	76,729		Humana AB		576
	392,376		Humana, Inc		104,372
	2,364		Huons Global Co Ltd		85
	17,856	*	ICU Medical, Inc		4,273
	185,348	*	IDEXX Laboratories, Inc		41,444
	5,813,142		IHH Healthcare BHD		8,230
	4,865		InBody Co Ltd		93
	39,625	*	Inogen Inc		3,779
	105,626	*,e	Inovalon Holdings, Inc		1,313
	36,035	*	Inspire Medical Systems, Inc		2,046
	25,400		Instituto Hermes Pardini S.A.		132

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	104,750	*,e	Insulet Corp	$	9,961
	268,619	*	Integer Holding Corp		20,259
	72,414	*	Integra LifeSciences Holdings Corp		4,035
	10,525	*	IntriCon Corp		264
	499,344	*	Intuitive Surgical, Inc		284,916
	45,478		Invacare Corp		381
	12,519	e	Ion Beam Applications		212
	4,977	*,e	iRadimed Corp		140
	120,905	*	iRhythm Technologies, Inc		9,063
	31,900	e	Japan Lifeline Co Ltd		529
	19,600		Jeol Ltd		354
	32,300		Jointown Pharmaceutical Group Co Ltd		75
	1,479,256		Koninklijke Philips Electronics NV		60,439
	181,707		Korian-Medica		7,358
	1,111,000		Kossan Rubber Industries		958
	9,432,192		KPJ Healthcare BHD		2,266
	109,277	*	Laboratory Corp of America Holdings		16,717
	104,283	*	Lantheus Holdings, Inc		2,553
	11,961		Le Noble Age		629
	48,317		LeMaitre Vascular, Inc		1,498
	37,670	*	LHC Group, Inc		4,176
	1,070,256		Life Healthcare Group Holdings Pte Ltd		1,994
	1,172,000	*,e	Lifetech Scientific Corp		251
	182,752	*	LivaNova plc		17,773
	190,168		M3, Inc		3,200
	49,954	*	Magellan Health Services, Inc		3,293
	18,100		Mani, Inc		888
	84,691	*	Masimo Corp		11,711
	624,424		McKesson Corp		73,095
	1,820	*,g	Medartis Holding AG.		102
	10,500	*,e	Medical Data Vision Co Ltd		102
	83,982	e	Medical Facilities Corp		1,108
	41,328		Medicare Group		753
	421,901		Mediceo Paltac Holdings Co Ltd		10,039
	294,173		Mediclinic International plc		1,169
	73,167	*	Medidata Solutions, Inc		5,359
	7,788	*	Medipost Co Ltd		263
	92,789	*	MEDNAX, Inc		2,521
	2,764,797		Medtronic plc		251,818
	96,640		Meinian Onehealth Healthcare Holdings Co Ltd		268
	13,900		Menicon Co Ltd		402
	61,344		Meridian Bioscience, Inc		1,080
	66,020	*	Merit Medical Systems, Inc		4,082
	141,063		Metlifecare Ltd		480
	228,832		Microport Scientific Corp		215
	31,000		Miraca Holdings, Inc		771
	44,785	*,g	MLP Saglik Hizmetleri AS.		102
	206,234	*	Molina Healthcare, Inc		29,277
	13,636		Nagaileben Co Ltd		296
	36,800		Nakanishi, Inc		720
	133,760	*	Nanosonics Ltd		415
	24,499		National Healthcare Corp		1,859
	23,625		National Research Corp		912
	39,373	*	Natus Medical, Inc		999

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	79,163	*	Neogen Corp	$	4,543
	3,939,761		Network Healthcare Holdings Ltd		6,408
	1,406		Neuca S.A.		93
	15,814	*	Neuronetics, Inc		241
	246,314	*	Nevro Corp		15,397
	95,058	*	NextGen Healthcare, Inc		1,600
	86,000	e	Nichii Gakkan Co		1,014
	55,800		Nihon Kohden Corp		1,663
	103,167		Nikkiso Co Ltd		1,208
	83,632		Nipro Corp		1,082
	168,044	e	NMC Health plc		5,009
	42,154	g	NNIT A.S.		1,088
	266,581	*	Novocure Ltd		12,841
	63,873	*	NuVasive, Inc		3,627
	22,525	*	Nuvectra Corp		248
	155,000		Odontoprev S.A.		649
	860,672		Olympus Corp		9,363
	74,909	*	Omnicell, Inc		6,056
	296,399	*	OraSure Technologies, Inc		3,305
	84,587	e	Oriola-KD Oyj (B Shares)		223
	26,370	e	Orpea		3,166
	65,681	*	Orthofix International NV		3,705
	9,930	*	OrthoPediatrics Corp		439
	6,018	*	Osstem Implant Co Ltd		287
	80,525		Owens & Minor, Inc		330
	184,116	*	Oxford Immunotec Global plc		3,172
	25,800		Paramount Bed Holdings Co Ltd		1,147
	100,367		Patterson Cos, Inc		2,193
	29,221	*	Penumbra, Inc		4,296
	20,202	*,e	PetIQ, Inc		635
	44,578		Phonak Holding AG.		8,834
	79,000	*,†	Pihsiang Machinery Manufacturing Co Ltd		0	^
	510,531	*	Premier, Inc		17,608
	292,100	*	Principal Capital PCL		44
	144,075		Pro Medicus Ltd		1,518
	119,453	*	Providence Service Corp		7,958
	12,751	*,e	Pulse Biosciences, Inc		224
	612,600		Qualicorp S.A.		2,453
	165,427		Quest Diagnostics, Inc		14,875
	42,902	*	Quidel Corp		2,809
	47,859	*,e	Quorum Health Corp		67
	403,340	*	R1 RCM, Inc		3,900
	169,779	*	RadNet, Inc		2,104
	453,507	e	Raffles Medical Group Ltd		358
	110,588		Ramsay Health Care Ltd		5,057
	13,117	*,e	RaySearch Laboratories AB		146
	69,202		Regis Healthcare Ltd		169
	152,450		Resmed, Inc		15,850
	13,969		Rhoen Klinikum AG.		402
	85,900		Rion Co Ltd		1,584
	155,900		Riverstone Holdings Ltd		125
	57,959	*,e	Rockwell Medical, Inc		330
	68,352	*	RTI Biologics, Inc		411

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	373,404		Ryman Healthcare Ltd	$	3,118
	32,200		Sartorius AG.		5,534
	25,318	*	SeaSpine Holdings Corp		382
	4,000	e	Seed Co Ltd		42
	845,962		Selcuk Ecza Deposu Ticaret ve Sanayi AS		583
	216,107	*	Select Medical Holdings Corp		3,045
	119,412	*,e	Senseonics Holdings, Inc		293
	3,992,415		Shandong Weigao Group Medical Polymer Co Ltd		3,818
	79,700		Shanghai Pharmaceuticals Holding Co Ltd		245
	648,640		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		1,414
	10,525	*,e	SI-BONE, Inc		198
	168,181	g	Siemens Healthineers AG.		7,022
	86,676	e	Sienna Senior Living, Inc		1,228
	126,137	*	Sientra, Inc		1,082
	726,900		Sigma Healthcare Ltd		271
	16,509		Simulations Plus, Inc		349
	954,671		Sinopharm Group Co		3,980
	554,188	e	Smith & Nephew plc		11,006
	1,500		Software Service, Inc		138
	26,100	e	Solasto Corp		295
	494,030		Sonic Healthcare Ltd		8,622
	151,767	g	Spire Healthcare Group plc		256
	28,000		St. Shine Optical Co Ltd		546
	333,439	*	Staar Surgical Co		11,400
	197,341		STERIS plc		25,266
	3,013		STRATEC Biomedical AG.		204
	23,224		Straumann Holding AG.		18,986
	719,188		Stryker Corp		142,054
	16,484		Suheung Capsule Co Ltd		374
	223,965		Summerset Group Holdings Ltd		1,007
	6,881,400		Supermax Corp BHD		2,486
	26,403	*,e	Surgery Partners, Inc		298
	16,423	*	SurModics, Inc		714
	119,312		Suzuken Co Ltd		6,921
	82,342		Sysmex Corp		4,988
	21,505	*,e	Tabula Rasa HealthCare, Inc		1,213
	21,332	*,e	Tactile Systems Technology, Inc		1,125
	25,000		TaiDoc Technology Corp		136
	62,935	*	Tandem Diabetes Care, Inc		3,996
	111,526	*,e	Teladoc, Inc		6,201
	13,346		Teleflex, Inc		4,033
	175,168	*	Tenet Healthcare Corp		5,052
	455,152		Terumo Corp		13,930
	71,600		Thonburi Healthcare Group PCL		72
	55,904	*	Tivity Health, Inc		982
	275,000	e	Toho Pharmaceutical Co Ltd		6,874
	11,200		Tokai Corp (GIFU)		273
	1,369,400		Top Glove Corp BHD		1,552
	2,414,000	†,e	Town Health International Medical Group Ltd		3
	209,971	*,e	TransEnterix, Inc		500
	162,076	*	Triple-S Management Corp (Class B)		3,699
	30,200		Tsuki Corp		190
	140,778		United Drug plc		1,038

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,832,801		UnitedHealth Group, Inc	$	700,439
	163,117		Universal Health Services, Inc (Class B)		21,820
	14,550		US Physical Therapy, Inc		1,528
	4,587		Utah Medical Products, Inc		405
	4,119		Value Added Technologies Co Ltd		88
	5,963	*	Vapotherm, Inc		117
	48,253	*	Varex Imaging Corp		1,635
	98,458	*	Varian Medical Systems, Inc		13,953
	361,664	*	Veeva Systems, Inc		45,881
	3,485,500		Vibhavadi Medical Center PCL (Foreign)		212
	3,966		Vieworks Co Ltd		118
	81,100	*,e	ViewRay, Inc		599
	53,828		Virtus Health Ltd		153
	181,100	e	VITAL KSK Holdings, Inc		1,790
	36,122	*	Vocera Communications, Inc		1,143
	78,229	*	WellCare Health Plans, Inc		21,102
	73,149		West Pharmaceutical Services, Inc		8,061
	181,864	*,e	William Demant Holding A.S.		5,383
	745,534	*,e	Wright Medical Group NV		23,447
	99,272	*	Xvivo Perfusion AB		1,746
	5,041		Ypsomed Holding AG.		646
	1,864,154		Zimmer Biomet Holdings, Inc		238,052
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		5,489,336
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	3,340		Aekyung Industrial Co Ltd		146
	28,991		Amorepacific Corp		4,825
	8,361		Amorepacific Corp (Preference)		790
	1,351	*	Avon Products, Inc		4
	44,237		Bajaj Corp Ltd		197
	91,734		Beiersdorf AG.		9,550
	4,549,700		Best World International Ltd		7,304
	8,463	e	Blackmores Ltd		560
	89,572	e	BWX Ltd		145
	69,968	*,e	Central Garden & Pet Co		1,788
	135,932	*	Central Garden and Pet Co (Class A)		3,160
	22,000		Chlitina Holding Ltd		211
	314,205		Church & Dwight Co, Inc		22,381
	183,850		Clorox Co		29,501
	2,213,457		Colgate-Palmolive Co		151,710
	3,906		Cosmax, Inc		523
	446,257	e	Coty, Inc		5,132
	655,349		Dabur India Ltd		3,866
	7,600		Earth Chemical Co Ltd		353
	155,405	*	Edgewell Personal Care Co		6,821
	80,478		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		39
	33,135	*,e	elf Beauty, Inc		351
	107,142		Emami Ltd		619
	1,046,601		Energizer Holdings, Inc		47,024
	479,491	e	Essity AB		13,837
	1,058,985		Estee Lauder Cos (Class A)		175,315
	37,900	*	Euglena Co Ltd		236

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	102,100		Fancl Corp	$	2,648
	8,296		Gillette India Ltd		790
	426,227		Godrej Consumer Products Ltd		4,222
	62,000		Grape King Industrial Co		401
	563,447		Hengan International Group Co Ltd		4,940
	82,288		Henkel KGaA		7,830
	149,583		Henkel KGaA (Preference)		15,284
	341,287	*	Herbalife Ltd		18,085
	896,043		Hindustan Lever Ltd		22,070
	8,634		Inter Parfums S.A.		469
	24,510		Inter Parfums, Inc		1,860
	4,259		It’s Skin Co Ltd		113
	50,293		Jamieson Wellness, Inc		709
	9,273	*	Jayjun Cosmetic Co Ltd		82
	88,125		Jyothy Laboratories Ltd		233
	558,407		Kao Corp		44,073
	552,277		Kimberly-Clark Corp		68,427
	1,180,016	*,e	Kimberly-Clark de Mexico S.A. de C.V. (Class A)		2,003
	42,900	e	Kitanotatsujin Corp		181
	144,500		Kobayashi Pharmaceutical Co Ltd		12,226
	6,021		Kolmar BNH Co Ltd		155
	7,557		Korea Kolmar Co Ltd		531
	4,028		Korea Kolmar Holdings Co Ltd		137
	50,100		Kose Corp		9,234
	9,683		LG Household & Health Care Ltd		12,100
	2,342		LG Household & Health Care Ltd (Preference)		1,725
	224,100		Lion Corp		4,723
	407,676		L’Oreal S.A.		109,784
	22,558		Mandom Corp		581
	768,531		Marico Ltd		3,845
	14,340		Medifast, Inc		1,829
	17,100		Milbon Co Ltd		797
	5,000	*,e	MTG Co Ltd		104
	183,298		Natura Cosmeticos S.A.		2,125
	8,966	e	Natural Health Trends Corp		116
	15,323	*	Nature’s Sunshine Products, Inc		142
	10,700		Noevir Holdings Co Ltd		520
	71,875		Nu Skin Enterprises, Inc (Class A)		3,440
	4,478		NUTRIBIOTECH Co Ltd		64
	952,000		NVC Lighting Holdings Ltd		75
	6,643		Oil-Dri Corp of America		207
	41,902	e	Ontex Group NV		943
	23,612	*	Oriflame Holding AG.		453
	18,682		Pacific Corp		1,148
	108,400		Pigeon Corp		4,448
	194,005	*	Pola Orbis Holdings, Inc		6,205
	7,612,407		Procter & Gamble Co		792,071
	6,186,000		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		435
	3,303,329		PT Unilever Indonesia Tbk		11,431
	183,544		PZ Cussons plc		469
	1,040,875		Reckitt Benckiser Group plc		86,624
	10,480	*,e	Revlon, Inc (Class A)		203
	71,948		Sarantis S.A.		569
	416,091		Shiseido Co Ltd		30,127

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,150	e	Spectrum Brands Holdings, Inc	$	1,433
	6,800	e	ST Corp		116
	52,980		TCI Co Ltd		728
	479,536		Uni-Charm Corp		15,898
	2,005,391		Unilever NV		116,917
	1,392,620		Unilever plc		80,163
	36,034	*	USANA Health Sciences, Inc		3,022
	125,000		Vinda International Holdings Ltd		242
	17,053		WD-40 Co		2,889
	112,200	e	YA-MAN Ltd		1,161
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		2,002,963
INSURANCE - 3.9%
	114,240		Admiral Group plc		3,231
	2,082,575		Aegon NV		10,004
	1,480,267		Aflac, Inc		74,013
	90,794		Ageas		4,380
	14,533,406		AIA Group Ltd		145,331
	36,497		Alleghany Corp		22,351
	683,488		Allianz AG.		152,314
	808,036		Allstate Corp		76,101
	125,573		Alm Brand AS		1,084
	54,896	*	AMBAC Financial Group, Inc		995
	240,522		American Equity Investment Life Holding Co		6,499
	212,207		American Financial Group, Inc		20,416
	2,977,722		American International Group, Inc		128,221
	14,883		American National Insurance Co		1,798
	83,358		Amerisafe, Inc		4,951
	53,717		Anadolu Hayat Emeklilik AS		53
	143,437		Anadolu Sigorta		102
	9,100	*,e	Anicom Holdings, Inc		247
	475,006		Aon plc		81,084
	748,710	*	Arch Capital Group Ltd		24,198
	187,307		Argo Group International Holdings Ltd		13,235
	318,537		Arthur J. Gallagher & Co		24,878
	575,189		ASR Nederland NV		23,966
	494,739		Assicurazioni Generali S.p.A.		9,173
	130,200		Assurant, Inc		12,357
	198,382		Assured Guaranty Ltd		8,814
	1,480,485	*	Athene Holding Ltd		60,404
	3,639,213		Aviva plc		19,570
	1,733,105		AXA S.A.		43,589
	460,734		Axis Capital Holdings Ltd		25,239
	51,603		Bajaj Finserv Ltd		5,243
	11,327		Baloise Holding AG.		1,872
	534,074		BB Seguridade Participacoes S.A.		3,617
	533,260		Beazley plc		3,578
	4,547,209	*	Berkshire Hathaway, Inc (Class B)		913,489
	214,897	*	Brighthouse Financial, Inc		7,799
	460,210		Brown & Brown, Inc		13,581
	7,300,816		Cathay Financial Holding Co Ltd		10,665
	1,313,294		China Insurance International Holdings Co Ltd		3,926
	9,756,890		China Life Insurance Co Ltd		26,306

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,300		China Life Insurance Co Ltd (Class A)	$	52
	1,991,253		China Life Insurance Co Ltd (Taiwan)		1,692
	54,100		China Pacific Insurance Group Co Ltd		273
	2,254,739		China Pacific Insurance Group Co Ltd (Hong Kong)		8,859
	6,963,000		China Reinsurance Group Corp		1,474
	1,649,266		Chubb Ltd		231,029
	276,772		Cincinnati Financial Corp		23,775
	64,229	*,e	Citizens, Inc (Class A)		428
	21,704	*	Clal Insurance		287
	138,224		CNA Financial Corp		5,992
	98,785		CNP Assurances		2,175
	546,311		Conseco, Inc		8,839
	3,630,000	*,†,e	Convoy Financial Holdings Ltd		5
	454,991		Corp Mapfre S.A.		1,254
	46,430		Crawford & Co (Class B)		424
	923,507		Dai-ichi Mutual Life Insurance Co		12,856
	1,071,425		Direct Line Insurance Group plc		4,929
	287,320		Discovery Holdings Ltd		2,732
	26,794		Donegal Group, Inc (Class A)		360
	46,224		Dongbu Insurance Co Ltd		2,798
	39,430	*	eHealth, Inc		2,458
	11,942		EMC Insurance Group, Inc		381
	285,366		Employers Holdings, Inc		11,446
	14,560	*	Enstar Group Ltd		2,533
	64,926		Erie Indemnity Co (Class A)		11,591
	80,485		Everest Re Group Ltd		17,382
	28,558		Fairfax Financial Holdings Ltd		13,228
	20,500	e	Fanhua, Inc (ADR)		538
	13,397		FBL Financial Group, Inc (Class A)		840
	16,286		FedNat Holding Co		261
	384,984		First American Financial Corp		19,827
	558,785		FNF Group		20,424
	2,608	e	Fondiaria-Sai S.p.A		7
	6,000,461		Fubon Financial Holding Co Ltd		8,970
	987,882	*	Genworth Financial, Inc (Class A)		3,784
	228,460	e	Gjensidige Forsikring BA		3,949
	11,540		Global Indemnity Ltd		351
	13,043	e	Goosehead Insurance, Inc		364
	307,094		Great-West Lifeco, Inc		7,436
	40,681	*	Greenlight Capital Re Ltd (Class A)		442
	81,651		Grupo Catalana Occidente S.A.		2,913
	35,347	*	Hallmark Financial Services		368
	64,011		Hannover Rueckversicherung AG.		9,198
	119,367		Hanover Insurance Group, Inc		13,628
	28,648		Hanwha Non-Life Insurance Co Ltd		131
	202,918		Harel Insurance Investments & Finances Ltd		1,340
	1,621,078		Hartford Financial Services Group, Inc		80,600
	1,051,583	g	Hastings Group Holdings Ltd		2,969
	10,089		HCI Group, Inc		431
	17,939	*,e	Health Insurance Innovations, Inc		481
	5,586		Helvetia Holding AG.		3,412
	27,807		Heritage Insurance Holdings, Inc		406
	198,625		Hiscox Ltd		4,037
	49,828		Horace Mann Educators Corp		1,754

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,900		Hubei Biocause Pharmaceutical Co Ltd	$	12
	58,066		Hyundai Marine & Fire Insurance Co Ltd		1,940
	126,238		iA Financial Corp, Inc		4,655
	5,212		IDI Insurance Co Ltd		249
	5,546		Independence Holding Co		195
	199,922	g	ING Life Insurance Korea Ltd		6,346
	2,467,638		Insurance Australia Group Ltd		13,470
	222,192		Intact Financial Corp		18,802
	1,788		Investors Title Co		282
	120,000		IRB Brasil Resseguros S		2,797
	95,034		James River Group Holdings Ltd		3,809
	1,570,400		Japan Post Holdings Co Ltd		18,380
	1,800	e	Japan Post Insurance Co Ltd		39
	981,497		Just Retirement Group plc		783
	93,133		Kemper Corp		7,091
	10,838		Kingstone Cos, Inc		160
	46,773		Kinsale Capital Group, Inc		3,207
	1,652,704		Korea Life Insurance Co Ltd		5,830
	59,377		Korean Reinsurance Co		479
	117,102		Lancashire Holdings Ltd		997
	8,449,882		Legal & General Group plc		30,323
	78,459		Liberty Holdings Ltd		549
	745,694		Lincoln National Corp		43,772
	515,670		Loews Corp		24,716
	23,637		Lotte Non-Life Insurance Co Ltd		57
	98,698		Maiden Holdings Ltd		73
	324,688	e	Manulife Financial Corp		5,490
	2,493,120		Manulife Financial Corp (Toronto)		42,163
	24,666	*	Markel Corp		24,573
	1,349,566		Marsh & McLennan Cos, Inc		126,724
	163,059	*	Max India Ltd		1,024
	206,920	*	MBIA, Inc		1,970
	3,415,705		Medibank Pvt Ltd		6,705
	57,300		Menorah Mivtachim Holdings Ltd		699
	1,117,999		Mercuries & Associates Holding Ltd		652
	224,058	*	Mercuries Life Insurance Co Lt		82
	96,354		Mercury General Corp		4,824
	308,294		Meritz Fire & Marine Insurance Co Ltd		6,600
	2,297,657		Metlife, Inc		97,811
	672,744	*,e	Metropolitan Holdings Ltd		774
	238,305		Migdal Insurance Holdings Ltd		224
	238,131		Mirae Asset Life Insurance Co Ltd		1,079
	300,983		Mitsui Sumitomo Insurance Group Holdings, Inc		9,171
	20,481		Muenchener Rueckver AG.		4,854
	98,834		National General Holdings Corp		2,345
	4,518		National Western Life Group, Inc		1,186
	43,081		Navigators Group, Inc		3,010
	9,800		New China Life Insurance Co Ltd		78
	638,382		New China Life insurance Co Ltd (Hong Kong)		3,260
	14,989	*	NI Holdings, Inc		240
	308,940		nib holdings Ltd		1,151
	100,682		NKSJ Holdings, Inc		3,729
	447,376		NN Group NV		18,614

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,669,126	e	Old Mutual Ltd	$	14,672
	86,238		Old Mutual Ltd (London)		127
	665,502		Old Republic International Corp		13,922
	12,712,288		People’s Insurance Co Group of China Ltd		5,451
	405,119		Phoenix Group Holdings plc		3,578
	77,383		Phoenix Holdings Ltd		402
	6,397,239		PICC Property & Casualty Co Ltd		7,283
	13,253,976		Ping An Insurance Group Co of China Ltd		149,216
	905,024		Ping An Insurance Group Co of China Ltd (Class A)		10,368
	224,174		Porto Seguro S.A.		3,082
	456,650	g	Poste Italiane S.p.A		4,448
	698,830		Power Corp Of Canada		16,295
	595,727		Power Financial Corp		13,917
	735,972		Powszechny Zaklad Ubezpieczen S.A.		7,769
	116,455		Primerica, Inc		14,225
	602,377		Principal Financial Group		30,233
	117,625		ProAssurance Corp		4,071
	1,571,485		Progressive Corp		113,288
	11,993		Protective Insurance Corp		222
	33,719	*,e	Protector Forsikring ASA		204
	1,225,674		Prudential Financial, Inc		112,615
	5,533,543		Prudential plc		110,922
	143,741,200	*	PT Panin Life Tbk		3,839
	134,181	*	Qatar Insurance Co SAQ		1,347
	1,648,014		QBE Insurance Group Ltd		14,418
	95,300		Qualitas Controladora SAB de C.V.		234
	430,421		Rand Merchant Investment Holdings Ltd		1,004
	187,114		Reinsurance Group of America, Inc (Class A)		26,566
	94,669		RenaissanceRe Holdings Ltd		13,585
	47,623		RLI Corp		3,417
	954,784		RSA Insurance Group plc		6,318
	139,219	g	Sabre Insurance Group plc		519
	18,075		Safety Insurance Group, Inc		1,575
	1,162,403		Saga plc		1,684
	1,381,024		Sampo Oyj (A Shares)		62,592
	43,285		Samsung Fire & Marine Insurance Co Ltd		11,478
	52,648		Samsung Life Insurance Co Ltd		3,902
	3,004,282	e	Sanlam Ltd		15,419
	229,547		SCOR SE		9,777
	80,122		Selective Insurance Group, Inc		5,070
	31,106,780		Shin Kong Financial Holding Co Ltd		9,177
	454,000		Shinkong Insurance Co Ltd		575
	91,884		Societa Cattolica di Assicurazioni SCRL		879
	776,792		Sony Financial Holdings, Inc		14,660
	22,624		State Auto Financial Corp		745
	449,414		Steadfast Group Ltd		1,012
	57,960		Stewart Information Services Corp		2,474
	373,932		Storebrand ASA		2,913
	535,194		Sul America SA		4,073
	706,710		Sun Life Financial, Inc		27,150
	1,133,790		Suncorp-Metway Ltd		11,105
	17,737		Swiss Life Holding		7,815
	49,200		Swiss Re Ltd		4,809
	879,618		T&D Holdings, Inc		9,263

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	287,244	*	Third Point Reinsurance Ltd	$	2,982
	91,026		TI Financial Holdings Ltd		638
	36,223		Tiptree Financial, Inc		229
	1,989,981		Tokio Marine Holdings, Inc		96,408
	21,966		Tong Yang Life Insurance		89
	169,041	e	Topdanmark AS		8,445
	216,084		Torchmark Corp		17,708
	483,604		Travelers Cos, Inc		66,331
	32,641	*,e	Trupanion, Inc		1,069
	60,437		Tryg A.S.		1,659
	2,619,227		Unipol Gruppo Finanziario S.p.A		13,066
	253,093		Uniqa Versicherungen AG.		2,521
	52,109		United Fire & Casualty Co		2,278
	26,504		United Insurance Holdings Corp		421
	37,398		Universal Insurance Holdings, Inc		1,159
	593,542		UnumProvident Corp		20,080
	207,655		W.R. Berkley Corp		17,593
	9,355		White Mountains Insurance Group Ltd		8,658
	106,460		Wiener Staedtische Allgemeine Versicherung AG.		2,735
	227,958		Willis Towers Watson plc		40,041
	35,200		Wiz Solucoes e Corretagem de Seguros S.A.		76
	12,864		Wuestenrot & Wuerttembergische AG.		247
	201,600	*,e,g	ZhongAn Online P&C Insurance Co Ltd		726
	371,283		Zurich Financial Services AG.		122,908
			TOTAL INSURANCE		4,448,603
MATERIALS - 4.8%
	35,314		Aarti Industries		804
	163,615		Acerinox S.A.		1,623
	7,499		Achilles Corp		129
	220,400		ADEKA Corp		3,240
	246,680		Adelaide Brighton Ltd		789
	20,908	e	Advanced Emissions Solutions, Inc		242
	127,144	e	Advanced Metallurgical Group NV		3,964
	65,629	*	Advansa Sasa Polyester Sanayi AS		94
	130,002	*	AdvanSix, Inc		3,714
	125,337		Aeci Ltd		832
	115,232	*	African Barrick Gold Ltd		295
	847,673		African Rainbow Minerals Ltd		9,961
	247,455		Agnico-Eagle Mines Ltd		10,759
	37,942	*,e	AgroFresh Solutions, Inc		127
	6,600		Aichi Steel Corp		205
	108,271		Air Liquide		13,779
	503,701		Air Products & Chemicals, Inc		96,187
	50,350		Air Water, Inc		731
	32,474		AK Holdings, Inc		1,458
	476,714	*,e	AK Steel Holding Corp		1,311
	4,990		Akzo Nobel India Ltd		130
	494,300		Akzo Nobel NV		43,910
	507,177		Alamos Gold, Inc		2,573
	1,059,780		Albemarle Corp		86,881
	385,878	*	Alcoa Corp		10,866

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,781,913		Alexandria Mineral Oils Co	$	613
	262,945	*	Allegheny Technologies, Inc		6,724
	53,177		Altius Minerals Corp		509
	633,297		Altri SGPS S.A.		4,964
	489,965	*,e	Altura Mining Ltd		47
	2,500,556		Alumina Ltd		4,306
	3,743,445	*	Aluminum Corp of China Ltd		1,383
	590,334		Ambuja Cements Ltd		2,005
	1,053,842		Amcor Ltd		11,530
	106,436		American Vanguard Corp		1,833
	60,606	*,e	Amyris, Inc		127
	135,596		Anadolu Cam Sanayii AS		73
	375,012	*	Anatolia Minerals Development Ltd		1,019
	1,486,000	e	Angang New Steel Co Ltd		1,089
	194,900		Angang Steel Co Ltd		165
	119,944		Anglo American Platinum Ltd		6,123
	1,760,406	e	Anglo American plc (London)		47,084
	335,652	e	AngloGold Ashanti Ltd		4,413
	947,369		Anhui Conch Cement Co Ltd		5,797
	70,000		Anhui Conch Cement Co Ltd (Class A)		398
	549,705		Antofagasta plc		6,916
	186,526		APERAM		5,323
	3,225		APL Apollo Tubes Ltd		67
	33,183		Aptargroup, Inc		3,530
	936,424		ArcelorMittal		19,004
	31,585		Ardagh Group S.A.		411
	250,511		Arkema		23,898
	20,374		Asahi Holdings, Inc		369
	1,352,527		Asahi Kasei Corp		14,007
	404,919		Ashland Global Holdings, Inc		31,636
	2,066,500		Asia Cement China Holdings Corp		2,041
	741		Asia Cement Co Ltd		77
	7,940,024		Asia Cement Corp		10,344
	443,248		Asian Paints Ltd		9,544
	17,716		Atul Ltd		917
	37,075		Aurubis AG.		1,989
	423,744		Ausdrill Ltd		491
	92,244		Avery Dennison Corp		10,424
	453,143	*	Axalta Coating Systems Ltd		11,424
	1,310,700	*	B2Gold Corp		3,668
	60,023		Balchem Corp		5,570
	595,273		Ball Corp		34,443
	8,415,397		Baoshan Iron & Steel Co Ltd		9,045
	2,668,489		Barrick Gold Corp (Canada)		36,582
	6,466		BASF India Ltd		138
	1,237,628		BASF SE		91,271
	4,354		Bayer CropScience Ltd		277
	27,900		BBMG Corp		18
	8,883,000		BBMG Corp (Class H)		3,266
	21,216	e	Bekaert S.A.		499
	40,734		Bemis Co, Inc		2,260
	1,918,224	*	Berry Plastics Group, Inc		103,335
	4,726,759		BHP Billiton Ltd		129,198
	575,767	e	BHP Billiton Ltd (ADR)		31,477

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,099,186		BHP Group plc	$	74,774
	106,129	e	Billerud AB		1,409
	5,350	*,e	Bio On Spa		331
	11,489		Birla Corp Ltd		87
	746,068		BlueScope Steel Ltd		7,405
	178,995		Boise Cascade Co		4,790
	411,497		Boliden AB		11,727
	1,068,836		Boral Ltd		3,489
	57,742		Borregaard ASA		572
	61,973	*	Boryszew S.A.		73
	119,300		Bradespar S.A.		972
	148,775		Braskem S.A.		1,934
	174,090		Brickworks Ltd		2,144
	52,020	e	Buzzi Unicem S.p.A.		1,066
	51,100		Buzzi Unicem S.p.A. RSP		666
	79,332		Cabot Corp		3,303
	330,500		Cahya Mata Sarawak BHD		271
	100,735	*	Canfor Corp		1,033
	58,263		Canfor Pulp Products, Inc		649
	83,004		CAP S.A.		985
	132,364		Carpenter Technology Corp		6,069
	104,226		Cascades, Inc		650
	162,530		CCL Industries		6,580
	51,446		Celanese Corp (Series A)		5,073
	62,906		Cementir S.p.A.		444
	408,432		Cementos Argos S.A.		1,010
	89,946	*	Cemex Latam Holdings S.A.		135
	18,576,278	*,e	Cemex S.A. de C.V.		8,680
	781,865		Centamin plc		907
	327,428	*	Centerra Gold, Inc		1,718
	102,231		Central Asia Metals plc		316
	85,555	*	Century Aluminum Co		760
	60,000		Century Iron & Steel Industrial Co Ltd		144
	33,121		Century Plyboards India Ltd		100
	12,749		Century Textile & Industries Ltd		172
	186,516		CF Industries Holdings, Inc		7,625
	203,142		Chambal Fertilizers & Chemicals Ltd		490
	8,469		Chase Corp		784
	741,536		Chemours Co		27,555
	4,120,560		Cheng Loong Corp		2,747
	192,000	*	Chiho-Tiande Group Ltd		34
	940,695		China BlueChemical Ltd		306
	163,029		China General Plastics Corp		120
	50,600		China Hi-ment Corp		85
	1,577,500		China Hongqiao Group Ltd		1,189
	1,619,841		China Manmade Fibers Corp		527
	133,112		China Metal Products		162
	858,455	*,†,e	China Metal Recycling Holdings Ltd		1
	408,000	*,g	China Metal Resources Utilization Ltd		206
	17,916,800	e	China Molybdenum Co Ltd		7,506
	264,900		China Molybdenum Co Ltd (Class A)		183
	13,367,282		China National Building Material Co Ltd		10,580
	108,000		China Northern Rare Earth Group High-Tech Co Ltd		179

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	548,000		China Oriental Group Co Ltd	$	345
	1,377,628	*	China Petrochemical Development Corp		542
	2,228,000		China Resources Cement Holdings Ltd		2,308
	2,267,000		China Sanjiang Fine Chemicals		619
	1,086,465	*,e	China Shanshui Cement Group Ltd		412
	94,000		China Steel Chemical Corp		411
	24,261,303		China Steel Corp		19,927
	426,897		China Synthetic Rubber Corp		580
	117,000		China XLX Fertiliser Ltd		42
	2,020,000		China Zhongwang Holdings Ltd		1,102
	171,990		Christian Hansen Holding		17,458
	32,000	e	Chugoku Marine Paints Ltd		287
	2,102,000	*	Chung Hung Steel Corp		779
	220,540		Chung Hwa Pulp Corp		70
	558,730		Cia de Minas Buenaventura S.A. (ADR) (Series B)		9,655
	2,229,948	*	Cia Siderurgica Nacional S.A.		9,255
	78,468		Ciech S.A.		1,096
	12,246	*	Clariant AG.		258
	21,293	*	Clearwater Paper Corp		415
	498,254	e	Cleveland-Cliffs, Inc		4,978
	425,863	*	Coeur Mining, Inc		1,738
	170,716		Commercial Metals Co		2,916
	86,132	*,†	Companhia Vale do Rio Doce		0
	90,321		Compass Minerals International, Inc		4,911
	247,449	*	Constellium NV		1,975
	187,972	*	Continental Gold, Inc		407
	37,182		Corbion NV		1,119
	79,258		Coromandel International Ltd		581
	23,201		Corticeira Amorim SGPS S.A.		277
	221,543	g	Covestro AG.		12,223
	294,000		CPMC Holdings Ltd		118
	1,930,778		CRH plc		59,846
	30,913		Croda International plc		2,031
	2,133,098	*	Crown Holdings, Inc		116,403
	313,001		CSR Ltd		739
	1,287,500		D&L Industries Inc		276
	56,299	e	Daicel Chemical Industries Ltd		613
	30,800		Daido Steel Co Ltd		1,219
	23,900		Daiken Corp		466
	37,471		Dainichiseika Color & Chemicals Manufacturing Co Ltd		1,025
	43,100		Dainippon Ink and Chemicals, Inc		1,263
	38,172	e	Daio Paper Corp		469
	59,400		Daiso Co Ltd		1,459
	96,951		DCM Shriram Ltd		579
	59,300		Denki Kagaku Kogyo KK		1,716
	227,751	*	Detour Gold Corp		2,137
	2,238,600		DG Khan Cement Co Ltd		1,358
	304,352		Domtar Corp		15,111
	15,991		Dongjin Semichem Co Ltd		146
	30,989		Dongkuk Steel Mill Co Ltd		202
	613,000		Dongyue Group		426
	29,000	e	Dowa Holdings Co Ltd		955
	3,913,439		DowDuPont, Inc		208,625

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	827,106		DS Smith plc	$	3,623
	112,501		DSM NV		12,272
	5,166	*	Duk San Neolux Co Ltd		81
	344,891		DuluxGroup Ltd		1,814
	18,539		Eagle Materials, Inc		1,563
	311,000		Eastern Polymer Group PCL		63
	155,096		Eastman Chemical Co		11,769
	681,048		Ecolab, Inc		120,232
	9,906	*	Ecopro Co Ltd		240
	84,917		EID Parry India Ltd		251
	84,636	*	El Ezz Steel Co		88
	224,659	*	Eldorado Gold Corp		1,037
	305,915	*	Element Solutions Inc		3,090
	359,721		Elementis plc		762
	1,226,681	*,g	Elkem ASA		4,353
	3,095,130		Empresas CMPC S.A.		10,916
	1,789		EMS-Chemie Holding AG.		971
	1,486,693		Ence Energia y Celulosa S.A.		8,284
	102,616	*	Endeavour Mining Corp		1,540
	179,748	*,e	Endeavour Silver Corp		453
	264,900		Engro Chemical Pakistan Ltd		616
	3,207,000		Engro Fertilizers Ltd		1,629
	8,414		Eramet		468
	430,098	e	Ercros S.A.		1,511
	4,204,004		Eregli Demir ve Celik Fabrikalari TAS		6,896
	163,173		Essentra plc		878
	498,574		Eternal Chemical Co Ltd		397
	630,620		Eugene Corp		3,705
	221,128		Everlight Chemical Industrial Corp		123
	1,572,089		Evolution Mining Ltd		4,086
	45,055		Evonik Industries AG.		1,230
	111,945		Evraz plc		906
	3,931,000		Fauji Cement Co Ltd		557
	79,500		Fauji Fertilizer Bin Qasim Ltd		19
	304,300		Fauji Fertilizer Co Ltd		226
	279,050		Feng Hsin Iron & Steel Co		547
	3,885,106		Ferrexpo plc		12,540
	314,117	*	Ferro Corp		5,946
	202,348	*	Ferroglobe plc		0
	18,105		Finolex Industries Ltd		128
	229,825	*,e	First Majestic Silver Corp		1,512
	2,594,170		First Quantum Minerals Ltd		29,410
	1,268,304	*,e	Fletcher Building Ltd		4,277
	75,622	*,e	Flotek Industries, Inc		245
	298,423		FMC Corp		22,925
	26,926	*	Foosung Co Ltd		177
	3,277,354		Formosa Chemicals & Fibre Corp		11,941
	4,197,176		Formosa Plastics Corp		14,940
	602,051	g	Forterra plc		2,312
	50,805	*,e	Forterra, Inc		214
	3,694,242		Fortescue Metals Group Ltd		18,697
	207,036	*	Fortuna Silver Mines, Inc		689
	15,000		FP Corp		887

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	178,185		Franco-Nevada Corp	$	13,359
	6,235,413		Freeport-McMoRan Copper & Gold, Inc (Class B)		80,374
	174,211		Fresnillo plc		1,974
	58,700		Fuchs Petrolub AG. (Preference)		2,423
	3,352,200		Fufeng Group Ltd		1,762
	27,500		Fuji Seal International, Inc		996
	10,400		Fujimi, Inc		228
	16,000		Fujimori Kogyo Co Ltd		441
	17,000	e	Furukawa-Sky Aluminum Corp		319
	2,355,800		Fushan International Energy Group Ltd		541
	10,700	e	Fuso Chemical Co Ltd		180
	147,882	*	FutureFuel Corp		1,982
	219,247	*,e	Galaxy Resources Ltd		294
	88,334	*	GCP Applied Technologies, Inc		2,615
	3,161,212		Gerdau S.A. (Preference)		12,224
	5,518	*	Givaudan S.A.		14,124
	13,219,571		Glencore Xstrata plc		54,784
	240,900		Global Green Chemicals PCL		79
	85,100	e	Godo Steel Ltd		1,276
	2,004,989		Gold Fields Ltd		7,390
	136,150	*	Gold Resource Corp		535
	832,661		Goldcorp, Inc		9,527
	2,682,510		Goldsun Development & Construction Co Ltd		746
	443,000		Grand Pacific Petrochemical		345
	334,587		Granges AB		3,450
	592,641		Graphic Packaging Holding Co		7,485
	468,061	*	Grasim Industries Ltd		5,798
	605,755	*,†	Great Basin Gold Ltd		5
	392,000		Greatview Aseptic Packaging Co		240
	93,214		Greif, Inc (Class A)		3,845
	7,716		Greif, Inc (Class B)		377
	6,882		Groupe Guillin		154
	251,820		Grupo Argos S.A.		1,430
	89,100		Grupo Cementos de Chihuahua SAB de C.V.		492
	5,220,644		Grupo Mexico S.A. de C.V. (Series B)		14,352
	10,837		Gujarat Alkalies & Chemicals Ltd		77
	22,947		Gujarat Flourochemicals		366
	327,276		Gujarat Narmada Valley Fertilizers Co Ltd		1,445
	7,991		Gulf Oil Lubricants India Ltd		97
	228		Gurit Holding AG.		213
	213,873	*	Guyana Goldfields, Inc		173
	7,626		H&R GmbH & Co KGaA		63
	105,910		H.B. Fuller Co		5,151
	955		Hanil Cement Co Ltd		122
	627		Hanil Cement Manufacturing		30
	4,825		Hansol Chemical Co Ltd		350
	174,861		Hansol Paper Co Ltd		2,275
	336,980		Hanwha Chemical Corp		6,225
	233,912		Harmony Gold Mining Co Ltd		441
	14,387		Hawkins, Inc		530
	21,746		Haynes International, Inc		714
	1,130,996	e	Hecla Mining Co		2,601
	428,513		HeidelbergCement AG.		30,888
	29,115		HeidelbergCement India Ltd		76

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	109,500		Hengli Petrochemical Co Ltd	$	300
	370,000		Hesteel Co Ltd		188
	340,146		Hexpol AB		2,869
	44,234		Hill & Smith Holdings plc		716
	53,009		Himadri Speciality Chemical Ltd		89
	1,901,809		Hindalco Industries Ltd		5,641
	90,211	e	Hitachi Chemical Co Ltd		2,008
	177,549		Hitachi Metals Ltd		2,069
	177,543		Hochschild Mining plc		477
	4,400	e	Hodogaya Chemical Co Ltd		129
	131,829		Hokuetsu Paper Mills Ltd		772
	83,537		Holcim Ltd		4,130
	62,821	e	Holmen AB		1,362
	15,849		Honam Petrochemical Corp		4,066
	111,000		Hsin Kuang Steel Co Ltd		118
	340,000		Huabao International Holdings Ltd		173
	13,958		Huchems Fine Chemical Corp		274
	351,560		HudBay Minerals, Inc		2,512
	66,412	e	Huhtamaki Oyj		2,475
	371,845		Huntsman Corp		8,363
	1,415	*	Hyosung Advanced Materials Corp		157
	991		Hyosung Chemical Corp		123
	87,022		Hyosung Corp		5,800
	125,782		Hyundai Steel Co		4,988
	816,645	*	IAMGOLD Corp		2,829
	470,152	g	Ibstock plc		1,469
	2,063,399		Iluka Resources Ltd		13,216
	61,504		IMCD Group NV		4,693
	2,123		Imerys S.A.		106
	1,019,319	*,e	Impala Platinum Holdings Ltd		4,326
	1,489,060		Incitec Pivot Ltd		3,302
	355,671		Independence Group NL		1,230
	80,621		India Cements Ltd		126
	1,378,678		Indorama Ventures PCL (Foreign)		2,165
	158,600	*,e	Industrias CH SAB de C.V.		702
	133,266		Industrias Penoles S.A. de C.V.		1,666
	161,318	*	Ingevity Corp		17,037
	352,300		Inner Mongolia BaoTou Steel Union Co Ltd		96
	159,920		Inner Mongolia Eerduosi Resourses Co Ltd		146
	23,019		Innophos Holdings, Inc		694
	119,170		Innospec, Inc		9,933
	145,792	*	Interfor Corp		1,711
	600,694	e	International Flavors & Fragrances, Inc		77,363
	222		International Flavors & Fragrances, Inc (Tel Aviv)		29
	1,032,380		International Paper Co		47,768
	71,500		International Steels Ltd		33
	77,438		Intertape Polymer Group, Inc		1,052
	1,227,917	*	Intrepid Potash, Inc		4,654
	102,300		Ishihara Sangyo Kaisha Ltd		1,047
	1,165,666		Israel Chemicals Ltd		6,091
	17,840		Israel Corp Ltd		4,086
	747,239	*	Ivanhoe Mines Ltd		1,789
	31,459	*,†	Jacana Minerals Ltd		0

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	428,574		James Hardie Industries NV	$	5,530
	69,393	*	Jastrzebska Spolka Weglowa S.A.		1,103
	12,800		JCU Corp		201
	613,900		JFE Holdings, Inc		10,449
	3,533,445		Jiangxi Copper Co Ltd		4,694
	75,400		Jiangxi Copper Co Ltd (Class A)		174
	15,300		Jiangxi Ganfeng Lithium Co Ltd		63
	1,287,000	*	Jinchuan Group International Resources Co Ltd		123
	412,001		Jindal Saw Ltd		514
	205,408	*	Jindal Steel & Power Ltd		532
	173,049		Jinduicheng Molybdenum Co Ltd		178
	357,091	*	Jinshan Gold Mines, Inc		444
	10,540		JK Cement Ltd		132
	18,352		JK Lakshmi Cement Ltd		92
	12,220		Johnson Matthey plc		501
	7,400		JSP Corp		164
	1,569,493		JSR Corp		24,418
	1,378,293		JSW Steel Ltd		5,828
	112,383		K&S AG.		2,064
	65,314		Kaiser Aluminum Corp		6,840
	39,627		Kaneka Corp		1,488
	217,717		Kansai Paint Co Ltd		4,162
	28,700		Kanto Denka Kogyo Co Ltd		194
	168,764	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class A)		71
	363,161	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		157
	2,523,549	*	KAZ Minerals plc		21,481
	56,266	e	Kemira Oyj		697
	300,197	*	KGHM Polska Miedz S.A.		8,369
	15,900		KH Neochem Co Ltd		385
	221,449	*,e	Kidman Resources Ltd		192
	1,193,912	*	Kinross Gold Corp		4,110
	320,702		Kirkland Lake Gold Ltd		9,753
	3,610		KISWIRE Ltd		79
	554,551		Klabin S.A.		2,412
	1,384,800		Klabin S.A. (Preference)		1,089
	44,585	*	Klondex Mines Ltd		103
	14,500		Koatsu Gas Kogyo Co Ltd		112
	703,186	e	Kobe Steel Ltd		5,290
	9,968		Kolon Industries, Inc		445
	16,600		Konishi Co Ltd		241
	25,591	*	Koppers Holdings, Inc		665
	14,128	*	Korea Kumho Petrochemical		1,187
	18,902		Korea Petrochemical Ind Co Ltd		2,621
	7,889		Korea Zinc Co Ltd		3,236
	19,877	*	Koza Altin Isletmeleri AS		150
	85,221	*	Koza Anadolu Metal Madencilik Isletmeleri AS		86
	38,246	*	Kraton Polymers LLC		1,231
	29,609		Kronos Worldwide, Inc		415
	8,700		Krosaki Harima Corp		437
	74,057	e	Kumba Iron Ore Ltd		2,219
	53,548		Kumiai Chemical Industry Co Ltd		379
	253,542		Kuraray Co Ltd		3,234

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,800		Kureha CORP	$	1,281
	101,900		Kyoei Steel Ltd		1,456
	99,375		Labrador Iron Ore Royalty Corp		2,185
	164,200	*	Lafarge Malayan Cement BHD		101
	561,404		Lanxess AG.		30,013
	381,207	*,e	Largo Resources Ltd		605
	1,589,000		Lee & Man Paper Manufacturing Ltd		1,356
	9,204	e	Lenzing AG.		988
	40,696		LG Chem Ltd		13,145
	6,923		LG Chem Ltd (Preference)		1,272
	2,047,169		Linde plc		360,159
	1,039,037		Linde plc (Xetra)		182,945
	26,900		Lintec Corp		583
	60,408	*,e	Lithium Americas Corp		229
	2,067,340	*	Livent Corp		25,387
	9,961		Lock & Lock Co Ltd		179
	200,000	*	Loma Negra Cia Industrial Argentina S.A. (ADR)		2,190
	252,063		Long Chen Paper Co Ltd		140
	167	*	Lonmin plc		0	^
	1,017,945		Louisiana-Pacific Corp		24,818
	62,078	*,e	LSB Industries, Inc		387
	420,979	e	Lucara Diamond Corp		491
	63,000		Lucky Cement Ltd		192
	75,406	*,e	Lundin Gold, Inc		291
	629,153		Lundin Mining Corp		2,919
	388,043	*,e	Lynas Corp Ltd		577
	420,625		LyondellBasell Industries AF S.C.A		35,366
	644,000		Maanshan Iron & Steel Co Ltd		316
	265,500		Maanshan Iron & Steel Co Ltd (Class A)		154
	61,096		Madras Cements Ltd		649
	101,085	*	MAG. Silver Corp		1,079
	103,984	*	Major Drilling Group International		349
	52,950	*	Marrone Bio Innovations, Inc		81
	123,011		Marshalls plc		991
	21,936		Martin Marietta Materials, Inc		4,413
	44,572		Maruichi Steel Tube Ltd		1,300
	65,601		Materion Corp		3,743
	418,300		Metalurgica Gerdau S.A.		760
	111,989		Methanex Corp		6,361
	891,543		Mexichem SAB de C.V.		2,132
	90,388		Mineral Resources Ltd		1,016
	89,911		Minerals Technologies, Inc		5,286
	11,943		Miquel y Costas & Miquel S.A.		217
	1,987,999		Mitsubishi Chemical Holdings Corp		14,040
	215,478	e	Mitsubishi Gas Chemical Co, Inc		3,086
	92,410		Mitsubishi Materials Corp		2,444
	5,800		Mitsubishi Steel Manufacturing Co Ltd		81
	197,437		Mitsui Chemicals, Inc		4,782
	32,200		Mitsui Mining & Smelting Co Ltd		829
	533,450		MMC Norilsk Nickel PJSC (ADR)		11,216
	2,088,000	*	MMG Ltd		850
	42,210		MOIL Ltd		97
	102,395		Mondi Ltd		2,271

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	410,150		Mondi plc	$	9,082
	12,981	*,†	Mongolian Metals Corporation		0
	2,065		Monsanto India Ltd		77
	10,207		Moorim P&P Co Ltd		51
	208,635		Mosaic Co		5,698
	221,836	e	Mountain Province Diamonds, Inc		194
	127,014	e	M-real Oyj (B Shares)		780
	43,547		Myers Industries, Inc		745
	118,127		Mytilineos Holdings S.A.		1,195
	84,300		Nakayama Steel Works Ltd		385
	10,702		Namhae Chemical Corp		105
	351,990	*	Nampak Ltd		274
	4,691,071		Nan Ya Plastics Corp		12,029
	1,012,275		Nantex Industry Co Ltd		1,087
	1,690,610		National Aluminium Co Ltd		1,353
	19,021		Neenah Paper, Inc		1,224
	966,502	*,e	Nemaska Lithium, Inc		246
	17,521		Neo Performance Materials, Inc		154
	19,400		Neturen Co Ltd		157
	755,407	*,e	New Gold, Inc		644
	911,569		Newcrest Mining Ltd		16,509
	4,280		NewMarket Corp		1,856
	2,451,318		Newmont Mining Corp		87,684
	17,600	e	Nihon Nohyaku Co Ltd		71
	50,600		Nihon Parkerizing Co Ltd		633
	2,778,902		Nine Dragons Paper Holdings Ltd		2,652
	81,200	e	Nippon Denko Co Ltd		165
	77,400		Nippon Kayaku Co Ltd		916
	820,900		Nippon Light Metal Holdings Co Ltd		1,806
	151,832	e	Nippon Paint Co Ltd		5,993
	56,600	e	Nippon Paper Industries Co Ltd		1,169
	15,000		Nippon Shokubai Co Ltd		981
	13,400		Nippon Soda Co Ltd		355
	943,246		Nippon Steel Corp		16,696
	9,700		Nippon Valqua Industries Ltd		194
	130,861		Nissan Chemical Industries Ltd		6,011
	26,000		Nittetsu Mining Co Ltd		1,076
	231,963		Nitto Denko Corp		12,227
	47,760		NOF Corp		1,630
	60,567		Norbord, Inc		1,669
	1,209,280		Norsk Hydro ASA		4,918
	177,885	*	Northam Platinum Ltd		783
	639,198		Northern Star Resources Ltd		4,061
	311,308	*	Novagold Resources, Inc		1,298
	120,320		Novolipetsk Steel PJSC (GDR)		3,089
	155,083		Novozymes AS		7,132
	589,320		Nucor Corp		34,387
	149,166	e	Nufarm Ltd		500
	283,830		Nutrien Ltd		14,975
	899,356		Nutrien Ltd (Toronto)		47,433
	955,886	e	OceanaGold Corp		3,004
	17,463		OCI Co Ltd		1,433
	44,712	*	OCI NV		1,232
	49,404	*	Odisha Cement Ltd		706

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,575		Oeneo S.A.	$	164
	800,548		OJI Paper Co Ltd		4,982
	6,000		Okamoto Industries, Inc		303
	4,673,168		Olin Corp		108,137
	18,304		Olympic Steel, Inc		290
	29,910	e	Omnia Holdings Ltd		106
	229,291	*	Omnova Solutions, Inc		1,610
	411,333		Orica Ltd		5,152
	1,301,000		Oriental Union Chemical Corp		1,104
	548,209	*,e	Orocobre Ltd		1,316
	3,658,682		Orora Ltd		7,766
	7,600		Osaka Steel Co Ltd		129
	154,786		Osisko Gold Royalties Ltd		1,739
	205,591	*,e	Osisko Mining, Inc		449
	195,867	e	Outokumpu Oyj		713
	361,037		Owens-Illinois, Inc		6,852
	681,478		Oxiana Ltd		5,140
	1,042,000		Pabrik Kertas Tjiwi Kimia Tbk PT		807
	7,850	e	Pacific Metals Co Ltd		192
	7,000		Pack Corp		215
	299,219		Packaging Corp of America		29,736
	117,279		Pact Group Holdings Ltd		233
	277,112		Pan American Silver Corp (Toronto)		3,662
	4	e	Pan American Silver Corp		0	^
	932,996		Petkim Petrokimya Holding		762
	1,323,665	*	Petra Diamonds Ltd		331
	5,772,316		Petronas Chemicals Group BHD		12,961
	51,819		PH Glatfelter Co		732
	148,977		Phillips Carbon Black Ltd		379
	113,669		PhosAgro PJSC (GDR)		1,424
	29,228		PI Industries Ltd		436
	127,253		Pidilite Industries Ltd		2,288
	844,917	*,e	Pilbara Minerals Ltd		475
	16,618		Plastivaloire		158
	161,486		Polymetal International plc (ADR)		1,818
	318,324		PolyOne Corp		9,330
	102,866		Polyus PJSC		4,228
	64,999		Poongsan Corp		1,657
	164,136		Portucel Empresa Produtora de Pasta e Papel S.A.		752
	75,800		POSCO		16,926
	158,301	e	POSCO Refractories & Environment Co Ltd		8,418
	807,491	*	PPC Ltd		263
	213,037		PPG Industries, Inc		24,045
	50,422	*	PQ Group Holdings, Inc		765
	246,694	*	Premier Gold Mines Ltd		288
	1,266,100		Press Metal BHD		1,402
	213,108	*,e	Pretium Resources, Inc		1,821
	76,163		Prism Cement Ltd		105
	4,168,704		PT Aneka Tambang Tbk		260
	2,442,300		PT Indah Kiat Pulp and Paper Corp Tbk		1,477
	1,607,443		PT Indocement Tunggal Prakarsa Tbk		2,478
	2,080,998	*	PT Krakatau Steel Tbk		68
	8,218,300	*,†	PT Sekawan Intipratama Tbk		0	^

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,900,238		PT Semen Gresik Persero Tbk	$	6,776
	1,435,557		PT Timah Tbk		127
	17,603,300		PT Waskita Beton Precast Tbk		498
	2,106,977		PTT Global Chemical PCL (Foreign)		4,475
	24,428		Qatar National Cement Co		500
	15,894		Quaker Chemical Corp		3,184
	264,380	*,†,b,e	Quintis Ltd		2
	190,424		Rain Commodities Ltd		281
	31,833		Rallis India Ltd		75
	17,755	*,e	Ramaco Resources, Inc		103
	220,071	e	Rayonier Advanced Materials, Inc		2,984
	106,856		Recticel S.A.		802
	897,029		Regis Resources Ltd		3,375
	150,456		Reliance Steel & Aluminum Co		13,580
	1,802,967		Rengo Co Ltd		16,936
	430,073		Resolute Mining Ltd		370
	16,716		Rhi Magnesita NV		985
	563,671		Rio Tinto Ltd		39,255
	2,401,422		Rio Tinto plc		139,578
	118,400		Rongsheng Petro Chemical Co Ltd		222
	49,804	*,e	Royal Bafokeng Platinum Ltd		114
	182,978		Royal Gold, Inc		16,638
	453,070		RPC Group plc		4,664
	57,646		RPM International, Inc		3,346
	77,634	*	Ryerson Holding Corp		665
	12,733		Sa des Ciments Vicat		613
	78,600		Sakai Chemical Industry Co Ltd		1,731
	23,700		Sakata INX Corp		219
	226,626		Salzgitter AG.		6,564
	11,196		Samsung Fine Chemicals Co Ltd		436
	936,687		Sandfire Resources NL		4,604
	251,634	*,e	Sandstorm Gold Ltd		1,373
	56,508		Sanyo Chemical Industries Ltd		2,620
	161,000		Sanyo Special Steel Co Ltd		3,307
	1,134,006		Sappi Ltd		5,238
	2,413,111	*	Saracen Mineral Holdings Ltd		4,970
	164,300		Satipel Industrial S.A.		460
	79,128		Scapa Group plc		293
	276,988	*	Schmolz + Bickenbach AG.		123
	76,589		Schnitzer Steel Industries, Inc (Class A)		1,838
	38,172		Schweitzer-Mauduit International, Inc		1,478
	116,300		Scientex BHD		244
	80,636	e	Scotts Miracle-Gro Co (Class A)		6,336
	59,009	*,e	Seabridge Gold, Inc		733
	54,690		Seah Besteel Corp		924
	101,244		Sealed Air Corp		4,663
	813,300	e	Sekisui Plastics Co Ltd		6,540
	428,629	*	SEMAFO, Inc		1,190
	83,769		Semapa-Sociedade de Investimento e Gestao		1,364
	52,085		Sensient Technologies Corp		3,531
	1,186,037	*	Sesa Sterlite Ltd		3,160
	647,439		Severstal (GDR)		10,100
	29,000		Shandong Gold Mining Co Ltd		133
	1,263,000		Shanghai Chlor-Alkali Chemical Co Ltd		892

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,920		Sharda Cropchem Ltd	$	64
	199,800		Shenzhen Zhongjin Lingnan Nonfemet Co Ltd		150
	198,742		Sherwin-Williams Co		85,600
	22,700		Shikoku Chemicals Corp		249
	7,789	*	Shine Co Ltd		92
	589,571		Shin-Etsu Chemical Co Ltd		49,612
	145,800		Shin-Etsu Polymer Co Ltd		1,080
	1,368,032		Shinkong Synthetic Fibers Corp		620
	26,000		Shiny Chemical Industrial Co Ltd		77
	276,900		Showa Denko KK		9,788
	9,206		Shree Cement Ltd		2,481
	428,500		Siam Cement PCL (ADR)		6,515
	340,625		Siam Cement PCL (Foreign)		5,131
	3,834,548	*,e	Sibanye Gold Ltd		4,103
	207,920		Sidi Kerir Petrochemcials Co		204
	28,274		Sika AG.		3,954
	167,805		Silgan Holdings, Inc		4,972
	686,000	*	Silver Grant International		139
	218,448		Silvercorp Metals, Inc		561
	137,588		Sims Group Ltd		1,048
	4,320,000	*	Sino Haijing Holdings Ltd		25
	1,150,000	*,e	Sinofert Holdings Ltd		144
	3,012,674		Sinopec Shanghai Petrochemical Co Ltd		1,436
	244,700		Sinopec Shanghai Petrochemical Co Ltd (Class A)		195
	2,482,940	*,e	Sirius Minerals plc		650
	5,428		SK Chemicals Co Ltd		127
	4,619		SK Chemicals Co Ltd (New)		282
	77,048		SKC Co Ltd		2,460
	7,663		SKCKOLONPI, Inc		206
	527,735		Smurfit Kappa Group plc		14,750
	184,475		Sociedad Quimica y Minera de Chile S.A. (Class B)		7,090
	2,739,454		Soda Sanayii AS		3,685
	2,802		SODIFF Advanced Materials Co Ltd		419
	458,019	*,e	SolGold plc		225
	168,775		Solvay S.A.		18,273
	7,151		Songwon Industrial Co Ltd		115
	59,206		Sonoco Products Co		3,643
	7,260,899		South32 Ltd		19,283
	6,561		South32 Ltd (W/I)		17
	243,564		Southern Copper Corp (NY)		9,665
	37,316		SRF Ltd		1,293
	141,868	e	Ssab Svenskt Stal AB (Series A)		511
	499,328		Ssab Svenskt Stal AB (Series B)		1,522
	162,081	*	SSR Mining, Inc		2,049
	1,027,345		St Barbara Ltd		2,458
	1,386		Stalprodukt S.A.		120
	1,211,798		Steel Dynamics, Inc		42,740
	40,384		Stelco Holdings, Inc		500
	5,300	e	Stella Chemifa Corp		146
	65,490		Stella-Jones, Inc		2,213
	46,778		Stepan Co		4,094
	4,001		STO AG.		364
	569,502		Stora Enso Oyj (R Shares)		6,973

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,400		Sumitomo Bakelite Co Ltd	$	733
	1,904,811		Sumitomo Chemical Co Ltd		8,892
	233,918		Sumitomo Metal Mining Co Ltd		6,931
	20,700	e	Sumitomo Osaka Cement Co Ltd		816
	5,700		Sumitomo Seika Chemicals Co Ltd		210
	8,712	e	Sumitomo Titanium Corp		133
	138,629	*	Summit Materials, Inc		2,200
	692,048	*	SunCoke Energy, Inc		5,875
	69,998		Supreme Industries Ltd		1,128
	706,974	*	Suzano Papel e Celulose S.A.		8,405
	352,797		Svenska Cellulosa AB (B Shares)		3,063
	20,948		Symrise AG.		1,888
	9,616		Synalloy Corp		146
	172,850	*,e	Syrah Resources Ltd		132
	15,300	e	T Hasegawa Co Ltd		247
	2,701,459		TA Chen Stainless Pipe		3,984
	250		Taekwang Industrial Co Ltd		356
	172,330		Taiheiyo Cement Corp		5,756
	13,422,200		Taiwan Cement Corp		17,996
	471,000		Taiwan Fertilizer Co Ltd		705
	123,725		Taiwan Hon Chuan Enterprise Co Ltd		197
	3,532,329		Taiwan Styrene Monomer		2,796
	10,100		Taiyo Ink Manufacturing Co Ltd		333
	46,833		Taiyo Nippon Sanso Corp		715
	36,300		Takasago International Corp		1,099
	113,300		Takiron Co Ltd		615
	7,900	*	Tanaka Chemical Corp		64
	32,577	*	Tata Chemicals Ltd		277
	1,409,871		Tata Steel Ltd		10,599
	8,500	e	Tayca Corp		196
	5,033		Technosemichem Co Ltd		235
	707,543		Teck Cominco Ltd		16,371
	420,937		Teijin Ltd		6,961
	8,100		Tenma Corp		151
	14,942	*	Tessenderlo Chemie NV		504
	349,943		ThyssenKrupp AG.		4,814
	1,406,000	e	Tiangong International Co Ltd		330
	4,287,395		Tianqi Lithium Corp		22,442
	33,541	e	Tikkurila Oyj		551
	64,471		Time Technoplast Ltd		95
	54,450	*,e	TimkenSteel Corp		591
	35,218		Titan Cement Co S.A.		761
	49,640	*,e	TMAC Resources, Inc		162
	61,900		Toagosei Co Ltd		656
	17,800	e	Toho Titanium Co Ltd		153
	6,300		Toho Zinc Co Ltd		179
	118,400	e	Tokai Carbon Co Ltd		1,485
	4,700		Tokushu Tokai Holdings Co Ltd		172
	45,000		Tokuyama Corp		1,065
	19,800		Tokyo Ohka Kogyo Co Ltd		542
	1,085,100	e	Tokyo Steel Manufacturing Co Ltd		9,442
	396,750		Ton Yi Industrial Corp		169

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,493	b	Tong Yang Major Corp	$	103
	455,500		Tongling Nonferrous Metals Group Co Ltd		173
	12,813		Tongyang Cement & Energy Corp		46
	16,200		Topy Industries Ltd		325
	681,771		Toray Industries, Inc		4,351
	109,011	*	Torex Gold Resources, Inc		1,372
	273,972		Tosoh Corp		4,275
	23,000		Toyo Ink Manufacturing Co Ltd		518
	238,207		Toyo Seikan Kaisha Ltd		4,886
	49,567		Toyobo Co Ltd		635
	2,785,800		TPI Polene PCL		181
	27,141	*	Trecora Resources		247
	35,834		Tredegar Corp		578
	836,602	*,e	Trevali Mining Corp		250
	89,340		Trinseo S.A.		4,047
	8,084,111	a	Tronox Holdings plc		106,306
	173,000	g	Tsaker Chemical Group Ltd		75
	376,000		TSRC Corp		336
	63,929	e	Tubacex S.A.		193
	448,000		Tung Ho Steel Enterprise Corp		309
	1,102,383	*	Turquoise Hill Resources Ltd		1,815
	288,200		UBE Industries Ltd		5,942
	7,803	*	UFP Technologies, Inc		292
	106,248	*	Ultra Tech Cement Ltd		6,135
	37,127	e	Umicore S.A.		1,652
	2,601		Unid Co Ltd		113
	328,187	*	United Phosphorus Ltd		4,543
	3,036		United States Lime & Minerals, Inc		234
	308,056		United States Steel Corp		6,004
	150,676		Universal Cement Corp		96
	22,484	*	Universal Stainless & Alloy		373
	2,770,462		UPC Technology Corp		1,123
	766,926		UPM-Kymmene Oyj		22,400
	19,182	*,e	US Concrete, Inc		795
	452,655		USI Corp		177
	2,706,443		Vale S.A.		35,205
	182,434		Valhi, Inc		421
	603,300		Valvoline, Inc		11,197
	119,477	*	Verso Corp		2,559
	90,629		Victrex plc		2,553
	6,451		Vinati Organics Ltd		153
	949,000		Vinythai PCL (Foreign)		739
	264,924		Voestalpine AG.		8,053
	1,571,502		Volcan Cia Minera S.A.		294
	66,048		Vulcan Materials Co		7,820
	200,000		Wacker Chemie AG.		17,219
	31,224	e	Wagners Holding Co Ltd		51
	193,601		Warrior Met Coal, Inc		5,885
	176,975		Welspun-Gujarat Stahl Ltd		348
	11,294,000		West China Cement Ltd		1,500
	106,950		West Fraser Timber Co Ltd		5,202
	160,012		Western Areas NL		256
	512,320		Western Forest Products, Inc		705

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	202,510	*	Westgold Resources Ltd	$	181
	169,438		Westlake Chemical Corp		11,498
	784,088		WestRock Co		30,070
	424,651		Wheaton Precious Metals Corp		10,108
	3,045,394		Wienerberger AG.		64,684
	44,370		Winpak Ltd		1,432
	3,370		Wonik Materials Co Ltd		74
	62,997	*	Worthington Industries, Inc		2,351
	1,213,690		WR Grace and Co		94,716
	13,300	e	W-Scope Corp		187
	1,232,761	e	Yamana Gold, Inc		3,210
	179,500		Yamato Kogyo Co Ltd		4,909
	794,422		Yara International ASA		32,551
	905,100		Yeun Chyang Industrial Co Ltd		772
	636,157		Yieh Phui Enterprise		206
	22,200		Yodogawa Steel Works Ltd		413
	4,463		Youlchon Chemical Co Ltd		51
	167		Young Poong Corp		118
	231,000	*	Youyuan International Holdings Ltd		72
	672,285		Yuen Foong Yu Paper Manufacturing Co Ltd		259
	478,474		Yule Catto & Co plc		2,366
	23,930		Zaklady Azotowe w Tarnowie-Moscicach S.A.		256
	92,312		Zeon Corp		939
	1,509,500		Zhaojin Mining Industry Co Ltd		1,511
	8,875		Zhejiang Huayou Cobalt Co Ltd		49
	110,800		Zhejiang Longsheng Group Co Ltd		283
	83,700		Zhongjin Gold Corp Ltd		106
	17,259		Zignago Vetro S.p.A.		193
	6,210,731		Zijin Mining Group Co Ltd		2,571
	483,800		Zijin Mining Group Co Ltd (Class A)		251
			TOTAL MATERIALS		5,471,217
MEDIA & ENTERTAINMENT - 6.6%
	83,800	*	58.COM, Inc (ADR)		5,504
	972,100		ABS-CBN Holdings Corp (ADR)		355
	2,723,980	n	Activision Blizzard, Inc		124,023
	11,513		Addcn Technology Co Ltd		99
	22,400	e	Akatsuki, Inc		1,291
	11,377,467	*,e	Alibaba Pictures Group Ltd		2,019
	710,679	*	Alphabet, Inc (Class A)		836,391
	1,027,809	*	Alphabet, Inc (Class C)		1,205,939
	792	*,e	Altice NV (Class A)		2
	264	*	Altice NV (Class B)		0	^
	71,993		Altice USA, Inc		1,546
	192,822	e	AMC Entertainment Holdings, Inc		2,863
	263,297	*	AMC Networks, Inc		14,945
	7,700		Amuse, Inc		163
	118,380	e	Antena 3 de Television S.A.		556
	1,580		APG SGA S.A.		448
	72,439	*	Arnoldo Mondadori Editore S.p.A.		126
	1,023,086		Ascential plc		4,752
	6,051,600		Asian Pay Television Trust		563
	7,100		Ateam, Inc		116
	1,224,517	g	Auto Trader Group plc		8,328

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	259,533	e	Autohome, Inc (ADR)	$	27,282
	153,659		Avex Group Holdings, Inc		2,052
	40,375		Axel Springer AG.		2,087
	357,639	*,e	Baidu, Inc (ADR)		58,957
	8,951		Beasley Broadcasting Group, Inc		36
	675,900	*	BEC World PCL (Foreign)		144
	4,100	*,e	Bengo4.com, Inc		163
	12,600	*,e	Bitauto Holdings Ltd (ADR)		201
	1,603,257		Borussia Dortmund GmbH & Co KGaA		14,729
	7,100	*,e	Boston Omaha Corp		177
	4,616		Cable One, Inc		4,530
	453,892		Cairo Communication S.p.A.		1,920
	81,272		Capcom Co Ltd		1,824
	7,759	*,e	Cardlytics, Inc		128
	248,230	*	Care.com, Inc		4,905
	307,944	*	Cargurus, Inc		12,336
	82,238	*	Cars.com, Inc		1,875
	124,004		carsales.com Ltd		1,116
	21,724	*,e	Catena Media plc		151
	3,097,064		CBS Corp (Class B)		147,203
	115,123	*	CD Projekt Red S.A.		6,007
	21,005	*	Central European Media Enterprises Ltd (Class A)		84
	122,070	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		486
	31,800		Changyou.com Ltd (ADR)		544
	365,965	*	Charter Communications, Inc		126,957
	134,147		Cheil Communications, Inc		2,861
	161,865	*,†	Chennai Super Kings Cricket Ltd		33
	7,700		China Film Co Ltd		20
	133,200	*,e,g	China Literature Ltd		625
	6,000		China South Publishing & Media Group Co Ltd		11
	225,997		Cinemark Holdings, Inc		9,038
	102,148	e	Cineplex Galaxy Income Fund		1,861
	1,534,305		Cineworld Group plc		5,851
	7,594		CJ CGV Co Ltd		291
	107,008		CJ Hellovision Co Ltd		874
	232,640	*	Clear Channel Outdoor Holdings, Inc (Class A)		1,245
	41,778		Cogeco Communications, Inc		2,668
	12,507		Cogeco, Inc		736
	29,400	e	COLOPL, Inc		183
	6,359		Com2uSCorp		586
	18,684,625		Comcast Corp (Class A)		747,011
	26,600	*,e	COOKPAD, Inc		67
	176,768	e	Corus Entertainment, Inc		783
	38,825		CTS Eventim AG.		1,841
	1,474,600	e	CyberAgent, Inc		60,341
	210,403	*	Cyfrowy Polsat S.A.		1,408
	24,200		Daiichikosho Co Ltd		1,239
	1,522	*,e	Daily Journal Corp		326
	170,783		Daily Mail & General Trust		1,436
	125,500		Dena Co Ltd		1,892
	119,148		Dentsu, Inc		5,043
	8,040,000	*	Digital Domain Holdings Ltd		144

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,300	e	Dip Corp	$	369
	56,357	*	Discovery, Inc (Class A)		1,523
	123,274	*	Discovery, Inc (Class C)		3,134
	732,882	*	DISH Network Corp (Class A)		23,225
	167,635	e	Domain Holdings Australia Ltd		304
	1,000,000	*,h	Dow, Inc		51,630
	1,054,394	*	Electronic Arts, Inc		107,158
	185,511		Emerald Expositions Events, Inc		2,356
	159,747	e	Entercom Communications Corp (Class A)		839
	2,890,981		Entertainment One Ltd		16,839
	304,049		Entravision Communications Corp (Class A)		985
	52,388	*,e	Eros International plc		479
	604,166		Eutelsat Communications		10,580
	53,529		EW Scripps Co (Class A)		1,124
	26,000		F@N Communications, Inc		133
	7,125,823	*	Facebook, Inc		1,187,803
	98,200	*,e	Fang Holdings Ltd (ADR)		133
	391,000	*	FingerTango, Inc		82
	161,536	*,e	Fluent, Inc		908
	818,579	*	Fox Corp (Class A)		30,050
	305,173	*	Fox Corp (Class B)		10,950
	10,872	*,e	Frontier Developments plc		138
	1,918,901	*,e,g	Funding Circle Holdings plc		9,922
	342,743		Future plc		3,366
	2,600	*,e	Gakken Co Ltd		121
	2,201	*	Gamevil, Inc		95
	142,367		Gannett Co, Inc		1,501
	178,070	*	GCI Liberty, Inc		9,902
	959,000		Gestevision Telecinco S.A.		7,166
	3,900		Giant Network Group Co Ltd		13
	141,896	*	Glu Mobile, Inc		1,552
	16,700		Gourmet Navigator, Inc		105
	88,915	*,e	Gravity Co Ltd (ADR)		5,729
	591,380	*	Gray Television, Inc		12,632
	70,400	*	Gree, Inc		288
	1,962,427	e	Grupo Televisa S.A.		4,346
	1,119,000	*	GungHo Online Entertainment Inc		4,085
	317,597		Hakuhodo DY Holdings, Inc		5,114
	25,773	*	Hemisphere Media Group, Inc		363
	157,767	e	HT&E Ltd		192
	770,000	*,e	Huanxi Media Group Ltd		150
	45,800	*,e	HUYA, Inc (ADR)		1,288
	29,414		Hyundai Hy Communications & Network Co		109
	756,362	*	IAC/InterActiveCorp		158,919
	251,587	*	IBN18 Broadcast Ltd		129
	4,469	*	I-Cable Communications Ltd		0	^
	3,828,000		IGG, Inc		5,316
	62,700	g	IMAX China Holding, Inc		156
	67,878	*	Imax Corp		1,539
	87,470		Info Edge India Ltd		2,324
	1,114,356		Informa plc		10,806
	12,396		Innocean Worldwide, Inc		763
	25,137	*	Inox Leisure Ltd		119
	34,000		International Games System Co Ltd		225

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,299,798		Interpublic Group of Cos, Inc	$	48,319
	63,035		IPSOS		1,579
	107,400	*,e	IQIYI Inc (ADR)		2,569
	435,954		ITE Group plc		398
	6,400	*,e	Itokuro, Inc		177
	5,730,968		ITV plc		9,496
	109,043		Jagran Prakashan Ltd		198
	122,384		JC Decaux S.A.		3,723
	24,815	*	Jcontentree Corp		107
	19,080		John Wiley & Sons, Inc (Class A)		844
	18,926	*	Just Dial Ltd		165
	230,089	*,e	Juventus Football Club S.p.A.		393
	14,184		JYP Entertainment Corp		386
	28,432		Kadokawa Dwango Corp		300
	205,620		Kakaku.com, Inc		3,961
	61,341		Kakao Corp		5,605
	73,400	e	Kamakura Shinsho Ltd		948
	8,804		Kinepolis Group NV		498
	23,000	e	KLab, Inc		181
	68,868		Konami Corp		2,996
	441,926	*	KPIT Engineering Ltd		514
	13,858		KT Skylife Co Ltd		144
	387,886		Lagardere S.C.A.		9,981
	3,055,000	*	Leyou Technologies Holdings Ltd		853
	14,519	*	Liberty Braves Group (Class A)		406
	100,569	*	Liberty Braves Group (Class C)		2,793
	49,721	*	Liberty Broadband Corp (Class A)		4,556
	185,551	*	Liberty Broadband Corp (Class C)		17,022
	1,913	*	Liberty Global plc		46
	194,001	*	Liberty Global plc (Class A)		4,835
	259,455	*	Liberty Latin America Ltd (Class A)		5,018
	258,109	*	Liberty Latin America Ltd (Class C)		5,020
	45,523	*	Liberty Media Group (Class A)		1,550
	474,763	*	Liberty Media Group (Class C)		16,640
	256,667	*	Liberty SiriusXM Group (Class A)		9,800
	391,044	*	Liberty SiriusXM Group (Class C)		14,954
	449,838	*	Liberty TripAdvisor Holdings, Inc		6,383
	19,200	*,e	LINE Corp		676
	178,247	e	Lions Gate Entertainment Corp (Class A)		2,788
	772,861		Lions Gate Entertainment Corp (Class B)		11,670
	406,023	*	Live Nation, Inc		25,799
	40,326	*,e	LiveXLive Media, Inc		217
	16,448	*	Loral Space & Communications, Inc		593
	72,030		M6-Metropole Television		1,329
	20,300		Macromill, Inc		245
	34,824	*	Madison Square Garden Co		10,208
	1,491,300		Major Cineplex Group PCL (Foreign)		1,317
	60,854		Marcus Corp		2,437
	194,000	e	Marvelous, Inc		1,507
	156,407	e	Match Group, Inc		8,854
	118,982	*	MDC Partners, Inc		268
	207,496	*,e	Mediaset S.p.A.		634
	305,624	*	Meet Group, Inc		1,537

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	105,300		Megacable Holdings SAB de C.V.	$	489
	48,367	e	Meredith Corp		2,673
	31,000		Mixi Inc		717
	47,033		Modern Times Group AB (B Shares)		603
	153,000	*	Momo, Inc (ADR)		5,851
	103,015	*	MSG Networks, Inc		2,241
	11,600		MTI Ltd		66
	560,659	*	MultiChoice Group Ltd		4,690
	28,700		Multiplus S.A.		197
	1,863		Nasmedia Co Ltd		54
	87,818		National CineMedia, Inc		619
	102,303		Naver Corp		11,196
	22,263	*	NCsoft		9,733
	106,500		NetDragon Websoft, Inc		268
	101,700		Netease.com (ADR)		24,555
	1,105,420	*,e	NetFlix, Inc		394,149
	23,083	e,g	Netmarble Corp		2,545
	158,386		New Media Investment Group, Inc		1,663
	163,906	e	New York Times Co (Class A)		5,384
	174,911		News Corp (Class A)		2,176
	54,152		News Corp (Class B)		676
	355,628	*	Nexon Co Ltd		5,593
	78,198		Nexstar Broadcasting Group, Inc (Class A)		8,474
	32,400	e	Next Co Ltd		170
	6,401	*	NHN Entertainment Corp		500
	1,517,081		Nine Entertainment Co Holdings Ltd		1,843
	301,142		Nintendo Co Ltd		86,335
	47,033	*	Nordic Entertainment Group AB		1,103
	274,319		Omnicom Group, Inc		20,023
	123,720		oOh!media Ltd		342
	8,900	*	OPT, Inc		140
	65,376	e	Paradox Interactive AB		1,016
	5,079	*	Pearl Abyss Corp		752
	1,385,201		Pearson plc		15,112
	3,900		Perfect World Co Ltd		18
	748,000		Phoenix Media Investment Holdings Ltd		83
	393,600		Plan B Media PCL		79
	65,900		Poly Culture Group Corp Ltd		92
	33,450	*,e	PR Times, Inc		650
	335,910	*,e	Promotora de Informaciones S.A.		607
	589,033		ProSiebenSat. Media AG.		8,386
	25,700		Proto Corp		465
	3,438,600		PT Global MediaCom Tbk		85
	3,081,100		PT Media Nusantara Citra Tbk		163
	937,270		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		5,995
	16,553,736		PT Surya Citra Media Tbk		1,926
	89,408		Publicis Groupe S.A.		4,787
	38,725		PVR Ltd		920
	660,627		Quebecor, Inc		16,195
	151,371	*	QuinStreet, Inc		2,027
	95,615	g	RAI Way S.p.A		494
	184	*	RCS MediaGroup S.p.A.		0	^
	48,078		REA Group Ltd		2,553

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	20,513	*	Reading International, Inc	$	327
	1,285,076		Rightmove plc		8,545
	25,308	*	Rosetta Stone, Inc		553
	284,300		RS PCL		169
	13,418		RTL Group		733
	5,093		Saga Communications, Inc		169
	167,645	e	Sanoma-WSOY Oyj		1,643
	34,154	*	SBS Media Holdings Co Ltd		68
	138,227		Schibsted ASA (B Shares)		4,952
	35,376		Scholastic Corp		1,407
	77,754	g	Scout24 AG.		4,026
	673,226		SES Global S.A.		10,471
	50,570		Shanghai Oriental Pearl Group Co Ltd		93
	440,341		Shaw Communications, Inc (B Shares)		9,164
	5,300	e	Shochiku Co Ltd		594
	57,662	*	Sina Corp		3,416
	123,419		Sinclair Broadcast Group, Inc (Class A)		4,749
	903,764	e	Singapore Press Holdings Ltd		1,610
	4,477,191	e	Sirius XM Holdings, Inc		25,386
	198,698		Sky Network Television Ltd		175
	110,200		Sky Perfect Jsat Corp		459
	11,751	*	SM Entertainment Co		409
	617,600	†,e	SMI Holdings Group Ltd		138
	33,300		Smiles Fidelidade S.A.		406
	23,550		Societe Television Francaise 1		217
	53,540		Soft-World International Corp		129
	15,700	*,e	Sohu.com Ltd (ADR)		260
	340,253	*,e	Solocal Group		199
	440,459		Southern Cross Media Group		366
	48,627		Square Enix Co Ltd		1,709
	8,805	*,e	Stillfront Group AB		216
	13,981	*,e	Storytel AB		153
	15,725		Stroer Out-of-Home Media AG.		922
	2,000,000		T4F Entretenimento S.A.		3,463
	787,586	*	Take-Two Interactive Software, Inc		74,324
	29,284	*	TechTarget, Inc		476
	26,500		Tecmo Koei Holdings Co Ltd		512
	265,422		TEGNA, Inc		3,742
	3,541		Telenet Group Holding NV		170
	179,043		Television Broadcasts Ltd		347
	9,845,759		Tencent Holdings Ltd		452,785
	74,400	*,e	Tencent Music Entertainment (ADR)		1,347
	2,000,584	*,e	Thomson		2,295
	287,000	g	Tian GE Interactive Holdings Ltd		114
	5,900		Toei Animation Co Ltd		291
	72,588		Toei Co Ltd		9,674
	92,005		Toho Co Ltd		3,701
	20,000		Tokyo Broadcasting System, Inc		367
	7,350	*	Travelzoo, Inc		98
	151,175		Tribune Co		6,975
	76,699	*	Tribune Publishing Co		904
	233,227	*	TripAdvisor, Inc		12,000
	118,035	*	TrueCar, Inc		784

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	123,100		TV Asahi Corp	$	2,166
	837,100	e	TV Azteca S.A. de C.V.		91
	2,686,759	*	Twitter, Inc		88,341
	92,143	*	Ubisoft Entertainment		8,217
	6,000	*,e	UUUM, Inc		289
	9,600	e	ValueCommerce Co Ltd		180
	13,400	e	Vector, Inc		170
	1,376,200		VGI Global Media PCL		392
	34,556	e	Viacom, Inc (Class A)		1,121
	2,176,135		Viacom, Inc (Class B)		61,084
	354,169	*	Village Roadshow Ltd		815
	943,553	*	Vivendi Universal S.A.		27,344
	5,235,444		Walt Disney Co		581,291
	50,640	*	Webzen, Inc		873
	71,556	*,e	Weibo Corp (ADR)		4,436
	4,527		WeMade Entertainment Co Ltd		203
	4,587,170	*	West Australian Newspapers Holdings Ltd		1,602
	44,704	*	WideOpenWest, Inc		407
	51,000	*	Wise Talent Information Technology Co Ltd		150
	123,600		Workpoint Entertainment PCL		87
	353,539	e	World Wrestling Entertainment, Inc (Class A)		30,680
	12,100		Wowow, Inc		324
	286,988		WPP AUNZ Ltd		128
	2,468,629		WPP plc		26,079
	7,700		Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd		16
	1,958		XING AG.		678
	540,531	e	Yahoo! Japan Corp		1,326
	567,964	*	Yandex NV		19,504
	102,103	*	Yelp, Inc		3,523
	7,150		YG Entertainment, Inc		238
	37,100	*	YY, Inc (ADR)		3,117
	381,184		Zee Entertainment Enterprises Ltd		214
	529,846		ZEE Telefilms Ltd		3,410
	19,750	e	Zenrin Co Ltd		438
	67,300	e	ZIGExN Co Ltd		357
	101,421	*	Zillow Group, Inc (Class A)		3,469
	240,729	*,e	Zillow Group, Inc (Class C)		8,363
	3,078,346	*	Zynga, Inc		16,409
			TOTAL MEDIA & ENTERTAINMENT		7,640,058
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.7%
	1,407,500	g	3SBio, Inc		2,768
	3,062,061	n	AbbVie, Inc		246,772
	481,150		Abcam plc		7,123
	40,131	*,e	Abeona Therapeutics, Inc		295
	611,277	*,e	Acadia Pharmaceuticals, Inc		16,413
	33,512	*,e	Accelerate Diagnostics, Inc		704
	53,052	*	Acceleron Pharma, Inc		2,471
	482,250	*	Achillion Pharmaceuticals, Inc		1,427
	63,168	*,e	Aclaris Therapeutics, Inc		378
	166,582	*	Acorda Therapeutics, Inc		2,214
	28,901	*,e	Adamas Pharmaceuticals, Inc		205

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	212,031		Adcock Ingram Holdings Ltd	$	905
	26,291	*,e	ADMA Biologics, Inc		100
	83,349	*	Aduro Biotech, Inc		332
	70,955	*	Adverum Biotechnologies, Inc		372
	18,842	*	Aeglea BioTherapeutics, Inc		152
	94,699	*,e	Aerie Pharmaceuticals, Inc		4,498
	113,670	*	Agenus, Inc		338
	29,712	*,e	AgeX Therapeutics, Inc		120
	891,199		Agilent Technologies, Inc		71,635
	94,094	*,e	Agios Pharmaceuticals, Inc		6,346
	52,479	*,e	Aimmune Therapeutics, Inc		1,173
	46,959		Ajanta Pharma Ltd		701
	18,023	*,e	Akcea Therapeutics, Inc		511
	441,275	*,e	Akebia Therapeutics, Inc		3,614
	140,781	*	Akorn, Inc		496
	11,576	*	Albireo Pharma, Inc		373
	716,608	*	Alder Biopharmaceuticals, Inc		9,782
	30,792	*	Aldeyra Therapeutics, Inc		278
	6,432	*,e	Alector, Inc		120
	71,082		Alembic Pharmaceuticals Ltd		552
	1,284,119	*	Alexion Pharmaceuticals, Inc		173,587
	3,676	*	ALK-Abello AS		609
	97,505	*	Alkermes plc		3,558
	17,606	*,e	Allakos, Inc		713
	16,211	*	Allena Pharmaceuticals, Inc		114
	1,241,425		Allergan plc		181,757
	485,851		Alliance Pharma plc		443
	198,116	*,e	Allogene Therapeutics, Inc		5,728
	136,493	*	Alnylam Pharmaceuticals, Inc		12,755
	147,194	*	AMAG Pharmaceuticals, Inc		1,896
	1,192,766		Amgen, Inc		226,602
	7,135	*	Amicogen, Inc		202
	537,462	*,e	Amicus Therapeutics, Inc		7,309
	110,083	*	Amneal Pharmaceuticals, Inc		1,560
	46,023	*	Amphastar Pharmaceuticals, Inc		940
	121,754	*,e	Ampio Pharmaceuticals, Inc		68
	33,921	*,e	AnaptysBio, Inc		2,478
	43,230	*	ANI Pharmaceuticals, Inc		3,049
	18,556	*	Anika Therapeutics, Inc		561
	2,020	*	Anterogen Co Ltd		146
	41,868	*	Apellis Pharmaceuticals, Inc		816
	300,101	*,e	Aphria, Inc		2,798
	17,848	*,e	Aptinyx, Inc		72
	21,725	*	Aquestive Therapeutics, Inc		150
	222,038	*	Aratana Therapeutics, Inc		799
	45,136	*,e	Arbutus Biopharma Corp		162
	42,194	*,e	Arcus Biosciences, Inc		527
	239,083	*	Ardelyx, Inc		669
	145,665	*	Arena Pharmaceuticals, Inc		6,530
	16,908	*,e	Argenx SE		2,102
	603,852	*	Arqule, Inc		2,892
	684,196	*	Array Biopharma, Inc		16,681
	110,338	*,e	Arrowhead Research Corp		2,025

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,604	*,e	Arvinas, Inc	$	142
	144,662	*	Ascendis Health Ltd		35
	116,000	*,g	Ascletis Pharma, Inc		96
	29,500		ASKA Pharmaceutical Co Ltd		306
	313,276		Aspen Pharmacare Holdings Ltd		2,024
	28,074	*	Assembly Biosciences, Inc		553
	79,356	*	Assertio Therapeutics, Inc		402
	2,330,755		Astellas Pharma, Inc		35,021
	1,718,502		AstraZeneca plc		137,173
	370,937		AstraZeneca plc (ADR)		14,997
	49,772	*	Atara Biotherapeutics, Inc		1,978
	11,200	*	ATGen Co Ltd		149
	101,862	*,e	Athenex, Inc		1,248
	416,938	*,e	Athersys, Inc		625
	71,575	*	Audentes Therapeutics, Inc		2,793
	69,631	*,e	Aurinia Pharmaceuticals, Inc		452
	474,790		Aurobindo Pharma Ltd		5,374
	713,764	*,e	Aurora Cannabis, Inc		6,457
	172,116	*,e	AVEO Pharmaceuticals, Inc		141
	120,050	*	Avid Bioservices, Inc		510
	15,607	*,e	Avrobio, Inc		344
	3,326	e	Bachem Holding AG.		407
	19,666	*,e	Basilea Pharmaceutica		916
	556,393	*	Bausch Health Cos, Inc		13,727
	17,887	*,e	Bavarian Nordic AS		374
	660,751		Bayer AG.		42,547
	33,000	*,e	BeiGene Ltd (ADR)		4,356
	143,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd		263
	41,200		Beijing Tongrentang Co Ltd		183
	50,915	*,e	Bellicum Pharmaceuticals, Inc		172
	14,834	*	Binex Co Ltd		142
	291,418	*	BioCryst Pharmaceuticals, Inc		2,372
	45,572		Biogaia AB (B Shares)		2,234
	415,852	*	Biogen Idec, Inc		98,299
	742,097	*	Biohaven Pharmaceutical Holding Co Ltd		38,196
	762,169	*	BioMarin Pharmaceutical, Inc		67,703
	46,434	*	Bio-Rad Laboratories, Inc (Class A)		14,194
	14,516	*	Biospecifics Technologies Corp		905
	66,253		Biotage AB		844
	59,049		Bio-Techne Corp		11,724
	21,810		Biotest AG. (Preference)		555
	496,060	*,e	BioTime, Inc		650
	146,669	*	Biovitrum AB		3,441
	133,803	*,e	Bluebird Bio, Inc		21,051
	65,717	*	Blueprint Medicines Corp		5,261
	6,952		Boiron S.A.		409
	275,141		Boryung Pharmaceutical Co Ltd		2,914
	3,431,568		Bristol-Myers Squibb Co		163,720
	328,536		Bruker BioSciences Corp		12,629
	242,014	*	BTG plc		2,630
	21,281		Bukwang Pharmaceutical Co Ltd		359
	195,354		Cadila Healthcare Ltd		978
	168,681	*	Calithera Biosciences, Inc		1,137
	7,590	*,e	Calyxt, Inc		134

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,829	*	Cambrex Corp	$	2,014
	9,311	*,e	Camurus AB		68
	2,327	*,e	Camurus AB BTA		17
	96,438	*,e	CannTrust Holdings, Inc		748
	10,000	*,e	Canopy Growth Corp		434
	239,509	*,e	Canopy Growth Corp (Toronto)		10,363
	11,394		Caplin Point Laboratories Ltd		66
	39,186	*,e	Cara Therapeutics Inc		769
	261,037	*	CareDx, Inc		8,228
	2,389	†,	Caregen Co Ltd		81
	63,764	*,e	CASI Pharmaceuticals, Inc		183
	166,452	*	Catalent, Inc		6,756
	24,588	*	Catalyst Biosciences, Inc		199
	124,139	*,e	Catalyst Pharmaceuticals, Inc		633
	5,923	*	Celcuity, Inc		130
	1,469,371	*	Celgene Corp		138,620
	18,048	*	Cellectis S.A.		327
	1,644	*	Celltrion, Inc		263
	16,783	*,e	Cellular Biomedicine Group, Inc		290
	1,687,508		Center Laboratories, Inc		4,570
	133,030	*	Charles River Laboratories International, Inc		19,323
	270,293	*	ChemoCentryx, Inc		3,754
	49,340	*	Chimerix, Inc		104
	10,235,300	*,†,e	China Animal Healthcare Ltd		13
	828,000	*	China Grand Pharmaceutical and Healthcare Holdings Ltd		520
	1,317,900		China Medical System Holdings Ltd		1,281
	1,639,000	g	China Resources Pharmaceutical Group Ltd		2,317
	4,000		China Resources Sanjiu Medical & Pharmaceutical Co Ltd		17
	805,000		China Shineway Pharmaceutical Group Ltd		807
	12,768		Chong Kun Dang Pharmaceutical Corp		1,150
	6,870		Choongwae Pharma Corp		232
	49,224	*,e	ChromaDex Corp		206
	335,350		Chugai Pharmaceutical Co Ltd		23,099
	294,871	*	Cipla Ltd		2,251
	33,160	*,e	Clearside Biomedical, Inc		46
	78,139		Clinigen Group plc		945
	226,934	*,e	Clovis Oncology, Inc		5,633
	42,427	*	CMG Pharmaceutical Co Ltd		171
	55,100		CMIC Co Ltd		767
	61,786	*	Codexis, Inc		1,268
	23,193	*,e	Cohbar, Inc		76
	1,985,577	*	Coherus Biosciences, Inc		27,083
	39,903	*,e	Collegium Pharmaceutical, Inc		604
	100,965	*	Concert Pharmaceuticals Inc		1,219
	6,315	*,e	Constellation Pharmaceuticals, Inc		86
	2,053,000		Consun Pharmaceutical Group Ltd		1,506
	66,697	*,e	Corbus Pharmaceuticals Holdings, Inc		464
	256,240	*,e	Corcept Therapeutics, Inc		3,008
	33,424	*,e	Corium International, Inc		6
	15,192	*	Corvus Pharmaceuticals, Inc		61

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,370	e	COSMO Pharmaceuticals NV	$	363
	9,281	*,e	Crinetics Pharmaceuticals, Inc		211
	124,685	*,e	Cronos Group, Inc		2,291
	18,307	*	CrystalGenomics, Inc		281
	491,447		CSL Ltd		68,189
	4,397,961		CSPC Pharmaceutical Group Ltd		8,194
	75,022	*,e	CTI BioPharma Corp		73
	18,522	*,e	Cue Biopharma, Inc		143
	188,292	*	Cymabay Therapeutics, Inc		2,501
	124,182	*	Cytokinetics, Inc		1,005
	131,632	*	CytomX Therapeutics, Inc		1,415
	6,728		Dae Hwa Pharmaceutical Co Ltd		121
	59,330		Daewon Pharmaceutical Co Ltd		859
	141,239		Daewoong Co Ltd		2,477
	2,916		Daewoong Pharmaceutical Co Ltd		474
	1,655,716		Daiichi Sankyo Co Ltd		76,457
	1,702,000		Dawnrays Pharmaceutical Holdings Ltd		319
	11,597	*,e	DBV Technologies S.A.		176
	172,374		Dechra Pharmaceuticals plc		6,065
	12,560	*,e	Deciphera Pharmaceuticals, Inc		292
	55,685	*,e	Denali Therapeutics, Inc		1,293
	48,654	*	Dermira, Inc		659
	66,309	*	Dicerna Pharmaceuticals, Inc		971
	164,441	*	Dishman Carbogen Amcis India Ltd		495
	156,989		Divi S Laboratories Ltd		3,858
	1,804		Dong-A Pharmaceutical Co Ltd		165
	2,655		Dong-A ST Co Ltd		226
	2,500		Dong-E-E-Jiao Co Ltd		18
	24,655		DongKook Pharmaceutical Co Ltd		1,268
	9,132	*	Dongsung Pharmaceutical Co Ltd		130
	17,111	*,e	Dova Pharmaceuticals, Inc		152
	189,519		Dr Reddy’s Laboratories Ltd		7,617
	204,485	*	Durect Corp		128
	74,592	*,e	Dynavax Technologies Corp		545
	12,791	*,e	Eagle Pharmaceuticals, Inc		646
	56,120	*,e	Editas Medicine, Inc		1,372
	19,801	*,e	Eidos Therapeutics, Inc		464
	249,475		Eisai Co Ltd		14,037
	629,513	*	Elanco Animal Health, Inc		20,188
	1,869,127		Eli Lilly & Co		242,538
	27,954	*,e	Eloxx Pharmaceuticals, Inc		327
	84,705	*	Emergent Biosolutions, Inc		4,279
	20,758	*	Enanta Pharmaceuticals, Inc		1,983
	454,731	*	Endo International plc		3,652
	293,003	*	Enzo Biochem, Inc		800
	3,223	*	Enzychem Lifesciences Corp		263
	72,141	*,e	Epizyme, Inc		894
	17,500		EPS Co Ltd		293
	6,160	*,e	Equillium, Inc		49
	45,501	*,g	Eris Lifesciences Ltd		424
	28,372	*,e	Esperion Thereapeutics, Inc		1,139
	11,272	e	Eurofins Scientific		4,670
	17,295	*,e	Evelo Biosciences, Inc		138
	12,259	*,e	Evolus, Inc		277

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	153,075	*	Evotec AG.	$	4,078
	371,765	*,e	Exact Sciences Corp		32,202
	524,868	*	Exelixis, Inc		12,492
	712,635		Faes Farma S.A. (Sigma)		3,014
	75,314	*	Fate Therapeutics, Inc		1,323
	68,442		FDC Ltd		164
	12,626	*	Fennec Pharmaceuticals, Inc		61
	156,386	*	FibroGen, Inc		8,500
	187,352	*	Five Prime Therapeutics, Inc		2,511
	44,885	*,e	Flexion Therapeutics, Inc		560
	118,546	*	Fluidigm Corp		1,575
	17,514	*,e	Forty Seven, Inc		283
	6,700		Fuji Pharma Co Ltd		106
	30,905	*	G1 Therapeutics, Inc		513
	25,456	*	Galapagos NV		2,967
	7,033	*	Genexine Co Ltd		527
	16,148	*,e	Genfit		390
	35,001	*	Genmab AS		6,073
	168,202	*	Genomic Health, Inc		11,783
	415,400	*	Genomma Lab Internacional S.A. de C.V.		299
	798,000	*	Genscript Biotech Corp		1,510
	48,755		Genus plc		1,409
	252,381	*,e	Geron Corp		419
	17,737		Gerresheimer AG.		1,335
	4,557,306		Gilead Sciences, Inc		296,270
	2,964,869		GlaxoSmithKline plc		61,597
	144,788		Glenmark Pharmaceuticals Ltd		1,353
	65,265	*,e	Global Blood Therapeutics, Inc		3,454
	48,783	*	GlycoMimetics Inc		608
	6,500	*,e	GNI Group Ltd		169
	30,577	*	Gossamer Bio, Inc		663
	564,828		Granules India Ltd		933
	3,011		Green Cross Cell Corp		129
	2,923		Green Cross Corp		373
	15,245		Green Cross Holdings Corp		324
	2,465		Green Cross LabCell Corp		97
	19,757		Grifols S.A.		554
	10,081	*,e	Gritstone Oncology, Inc		134
	42,600		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		247
	8	*	GW Pharmaceuticals plc		0	^
	137,971	*,e	GW Pharmaceuticals plc (ADR)		23,258
	150,037	e	H Lundbeck AS		6,506
	436,686	*	Halozyme Therapeutics, Inc		7,031
	15,109	*	Han All Pharmarceutical Co		455
	3,914		Handok Pharmaceuticals Co Ltd		104
	5,705		Hanmi Pharm Co Ltd		2,295
	14,190		Hanmi Science Co Ltd		969
	16,787	*,e	Hansa Medical AB		407
	2,922	*,e	Harpoon Therapeutics, Inc		28
	63,869	*	Harvard Bioscience, Inc		275
	42,800	*,e	HEALIOS KK		667
	82,451	*	Heron Therapeutics, Inc		2,015

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	242,946	*	HEXO Corp	$	1,605
	802,673		Hikma Pharmaceuticals plc		18,746
	17,070		Hisamitsu Pharmaceutical Co, Inc		787
	22,176	*,e	Homology Medicines, Inc		615
	469,859	*	Horizon Pharma plc		12,418
	2,548,684	*,†	Hua Han Bio-Pharmaceutical Holdings Ltd		20
	1,275	*	Hugel, Inc		425
	9,199		Huons Co Ltd		541
	48,700	*,e	Hutchison China MediTech Ltd (ADR)		1,489
	338,367		Hypermarcas S.A.		2,238
	42,587	*,e	Idera Pharmaceuticals, Inc		109
	44,377	*,e	Idorsia Ltd		782
	96,240		Il Dong Pharmaceutical Co Ltd		1,850
	558,490	*	Illumina, Inc		173,517
	7,110	*	Ilyang Pharmaceutical Co Ltd		180
	167,321	*	Immune Design Corp		979
	223,644	*	Immunogen, Inc		606
	182,599	*,e	Immunomedics, Inc		3,508
	308,589	*	Incyte Corp		26,542
	3,604,293	*	Indivior plc		4,512
	24,284	*,e	Innate Pharma S.A.		171
	28,022	*,e	Innovate Biopharmaceuticals, Inc		54
	334,539	*	Innoviva, Inc		4,694
	113,952	*,e	Inovio Pharmaceuticals, Inc		425
	474,440	*,e	Insmed, Inc		13,792
	35,490	*,e	Insys Therapeutics, Inc		164
	38,664	*,e	Intellia Therapeutics, Inc		660
	27,149	*,e	Intercept Pharmaceuticals, Inc		3,037
	163,530	*	Intersect ENT, Inc		5,258
	58,946	*	Intra-Cellular Therapies, Inc		718
	99,500	*,e	Intrexon Corp		523
	11,964	*	iNtRON Biotechnology, Inc		208
	607,547	*	Invitae Corp		14,229
	76,119	*,e	Ionis Pharmaceuticals, Inc		6,179
	132,851	*	Iovance Biotherapeutics, Inc		1,263
	68,363		Ipca Laboratories Ltd		969
	79,627		Ipsen		10,919
	217,293	*	IQVIA Holdings, Inc		31,258
	318,937	*,e	Ironwood Pharmaceuticals, Inc		4,315
	3,000	*,e	Japan Tissue Engineering Co Lt		27
	730,283	*	Jazz Pharmaceuticals plc		104,394
	8,500		JCR Pharmaceuticals Co Ltd		502
	2,637		Jeil Pharmaceutical Co Ltd		100
	70,560		Jiangsu Hengrui Medicine Co Ltd		685
	6,845,971		Johnson & Johnson		956,998
	173,945	*	Jounce Therapeutics, Inc		1,078
	110,897		Jubilant Organosys Ltd		1,064
	175,591	e	JW Holdings Corp		1,066
	131,973	*,e	Kadmon Holdings, Inc		348
	29,400		Kaken Pharmaceutical Co Ltd		1,339
	24,966	*	Kala Pharmaceuticals, Inc		206
	117,500		Kangmei Pharmaceutical Co Ltd		183
	388,262		Karo Pharma AB		1,599
	168,191	*,e	Karyopharm Therapeutics, Inc		982

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,288	*,e	Kezar Life Sciences, Inc	$	271
	41,223	*	Kindred Biosciences Inc		378
	10,102	*,e	Kiniksa Pharmaceuticals Ltd		182
	17,600		Kissei Pharmaceutical Co Ltd		462
	150,565	*	Knight Therapeutics, Inc		827
	14,377	*	Kodiak Sciences, Inc		94
	3,897	*	Kolon Life Science, Inc		259
	19,926	*	Komipharm International Co Ltd		404
	64,827		Korea United Pharm Inc		1,452
	45,546	*,e	Kura Oncology, Inc		756
	17,506		Kwang Dong Pharmaceutical Co Ltd		108
	21,636		Kyorin Co Ltd		423
	255,772		Kyowa Hakko Kogyo Co Ltd		5,582
	29,787	*,e	La Jolla Pharmaceutical Co		192
	320,363		Laboratorios Almirall S.A.		5,470
	39,743	*,e	Lannett Co, Inc		313
	22,779	g	Laurus Labs Ltd		131
	142,000		Lee’s Pharmaceutical Holdings Ltd		128
	4,169	*	LegoChem Biosciences, Inc		202
	54,926	*,e	Lexicon Pharmaceuticals, Inc		305
	59,773	*,e	Ligand Pharmaceuticals, Inc (Class B)		7,514
	3,300	e	Linical Co Ltd		41
	7,162	*	Liquidia Technologies, Inc		82
	9,993	*,e	LogicBio Therapeutics, Inc		99
	696,870		Lonza Group AG.		216,348
	44,000	*	Lotus Pharmaceutical Co Ltd		174
	116,670		Luminex Corp		2,685
	172,229	*	Lupin Ltd		1,837
	1,656,500	e,g	Luye Pharma Group Ltd		1,451
	124,928	*	MacroGenics, Inc		2,246
	8,239	*,e	Madrigal Pharmaceuticals, Inc		1,032
	17,157	*,e	Magenta Therapeutics, Inc		283
	231,211	*	Mallinckrodt plc		5,027
	194,324	*,e	MannKind Corp		383
	238,677	*,e	Marinus Pharmaceuticals, Inc		998
	4,021,752	*	Mayne Pharma Group Ltd		1,989
	84,034	*,e	Medicines Co		2,349
	51,001	*,e	MediciNova, Inc		422
	135,461	*	Medpace Holdings, Inc		7,988
	4,785		Medy-Tox, Inc		2,469
	14,611	*,e	MeiraGTx Holdings plc		252
	13,643	*,e	Melinta Therapeutics, Inc		48
	22,824	*	Menlo Therapeutics, Inc		179
	9,193,157		Merck & Co, Inc		764,595
	46,159		Merck KGaA		5,270
	1,978		Merck Ltd		105
	379,439	e	Merrimack Pharmaceuticals, Inc		2,637
	18,166	*	Mersana Therapeutics, Inc		96
	216,910	*,e	Mesoblast Ltd		222
	46,716	*	Mettler-Toledo International, Inc		33,776
	3,136	*	Mezzion Pharma Co Ltd		383
	220,575	*,e	Minerva Neurosciences, Inc		1,734
	87,636	*,e	Miragen Therapeutics, Inc		245

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	197,840	*,e	Mirati Therapeutics, Inc	$	14,502
	7,879	*,e	Mithra Pharmaceuticals S.A.		228
	36,200		Mochida Pharmaceutical Co Ltd		1,860
	8,484	*,e	Moderna, Inc		173
	5,649	*,e	Molecular Partners AG.		97
	24,459	*,e	Molecular Templates, Inc		142
	119,582	*	Momenta Pharmaceuticals, Inc		1,738
	18,763	*	Morphosys AG.		1,711
	36,415	*,e	Mustang Bio, Inc		124
	794,712	*	Mylan NV		22,522
	83,316	*	MyoKardia, Inc		4,332
	86,775	*	Myriad Genetics, Inc		2,881
	189,395	*	NanoString Technologies, Inc		4,532
	95,706	*,e	NantKwest, Inc		151
	133,012		Natco Pharma Ltd		1,101
	126,277	*	Natera, Inc		2,604
	385,313	*	Nektar Therapeutics		12,947
	701,561	*,e	NeoGenomics, Inc		14,354
	9,148	*,e	Neon Therapeutics, Inc		59
	83,582	*,e	Neos Therapeutics, Inc		218
	451,747	*	Neurocrine Biosciences, Inc		39,799
	41,798	*,e	NewLink Genetics Corp		81
	340,950	e	Nichi-iko Pharmaceutical Co Ltd		4,529
	27,000		Nippon Shinyaku Co Ltd		1,971
	26,028	*,e	Nordic Nanovector ASA		135
	3,319,539		Novartis AG.		319,072
	134,625		Novartis AG. (ADR)		12,943
	1,076,702	*,e	Novavax, Inc		593
	2,944,581		Novo Nordisk AS		153,900
	44,752	*,e	Nymox Pharmaceutical Corp		88
	61,000	*	OBI Pharma, Inc		335
	46,358	*,e	Ocular Therapeutix, Inc		184
	9,685	*,e	Odonate Therapeutics, Inc		214
	206,837	*,e	Omeros Corp		3,593
	18,185	*,e,g	Oncopeptides AB		252
	141,838		Ono Pharmaceutical Co Ltd		2,787
	405,872	*,e	Opko Health, Inc		1,059
	30,078	*,e	Optinose, Inc		310
	138,543	*,e	Organovo Holdings, Inc		137
	84,755	*,e	Orion Oyj (Class B)		3,185
	12,121	*	Oscotec, Inc		281
	106,044		Otsuka Holdings KK		4,175
	20,518	*	Ovid therapeutics, Inc		36
	28,948	*	Oxford Biomedica plc		269
	171,918	*	Pacific Biosciences of California, Inc		1,243
	351,959	*	Pacira Pharmaceuticals, Inc		13,396
	2,663,590	*	Paion AG.		6,558
	235,094	*,e	Palatin Technologies, Inc		230
	45,381	*,e	Paratek Pharmaceuticals, Inc		243
	182,738	*	PDL BioPharma, Inc		680
	168,900	*	PeptiDream, Inc		8,318
	6,365	*	Peptron, Inc		126
	318,908	*	PerkinElmer, Inc		30,730
	80,965		Perrigo Co plc		3,899

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,775	*	Pfenex, Inc	$	295
	13,845		Pfizer Ltd		665
	15,901,304		Pfizer, Inc		675,329
	2,394		PHARMA RESEARCH PRODUCTS Co Ltd		80
	49,472		PharmaEngine Inc		173
	78,000	*	PharmaEssentia Corp		408
	22,902		Pharmally International Holding Co Ltd		177
	28,486	*	Pharmicell Co Ltd		297
	332,099	*,e	Pharming Group NV		302
	226,142		Phibro Animal Health Corp		7,463
	306,912	*	Pieris Pharmaceuticals, Inc		1,028
	66,278		Piramal Healthcare Ltd		2,645
	12,602	*,e	PolarityTE, Inc		135
	78,895	*,e	Portola Pharmaceuticals, Inc		2,738
	115,313	*	PRA Health Sciences, Inc		12,718
	79,311	*	Prestige Brands Holdings, Inc		2,372
	10,554	*	Principia Biopharma, Inc		359
	3,575	*	Probi AB		130
	114,292	*	Progenics Pharmaceuticals, Inc		530
	829,613	*,e	Prometic Life Sciences, Inc		183
	112,228	*,e	ProQR Therapeutics NV		1,557
	12,684	*	Prostemics Co Ltd		62
	57,487	*,e	Proteostasis Therapeutics, Inc		72
	96,578	*	Prothena Corp plc		1,172
	15,300,831		PT Kalbe Farma Tbk		1,633
	192,711	*	PTC Therapeutics, Inc		7,254
	121,135	*,e	Puma Biotechnology, Inc		4,699
	527,548	*	QIAGEN NV		21,461
	404,148	*	QIAGEN NV (Turquoise)		16,405
	10,743	*	Quanterix Corp		278
	295,053	*	Ra Pharmaceuticals, Inc		6,609
	237,847	*	Radius Health, Inc		4,743
	170,716	*	Reata Pharmaceuticals, Inc		14,591
	29,197	*	Recipharm AB		432
	204,181		Recordati S.p.A.		7,956
	85,435	*	Recro Pharma, Inc		501
	124,817	*	Regeneron Pharmaceuticals, Inc		51,252
	97,812	*	REGENXBIO, Inc		5,606
	105,578	*	Repligen Corp		6,238
	10,216	*,e	Replimune Group, Inc		155
	9,730	*,e	resTORbio, Inc		66
	230,114	*	Retrophin, Inc		5,207
	48,574	*	Revance Therapeutics, Inc		766
	4,235		Reyon Pharmaceutical Co Ltd		73
	20,263	*	Rhythm Pharmaceuticals, Inc		555
	175,979		Richter Gedeon Rt		3,325
	297,513	*	Rigel Pharmaceuticals, Inc		765
	1,168,560		Roche Holding AG.		322,002
	27,817	*,e	Rocket Pharmaceuticals, Inc		488
	57,400		Rohto Pharmaceutical Co Ltd		1,479
	41,460	*,e	Rubius Therapeutics, Inc		750
	277,054	*	Sage Therapeutics, Inc		44,065
	6,933		Sam Chun Dang Pharm Co Ltd		288

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	76,377		Samjin Pharmaceutical Co Ltd	$	2,573
	15,133	*,g	Samsung Biologics Co Ltd		4,272
	17,400	*,e	SanBio Co Ltd		450
	381,713	*	Sangamo Biosciences, Inc		3,642
	6,937		Sanofi India Ltd		586
	2,414,502		Sanofi-Aventis		213,500
	583,851		Sanofi-Aventis S.A. (ADR)		25,853
	93,438		Santen Pharmaceutical Co Ltd		1,397
	133,770	*	Sarepta Therapeutics, Inc		15,944
	30,614	e	Sartorius Stedim Biotech		3,879
	55,106	*,e	Savara, Inc		406
	223,700		Sawai Pharmaceutical Co Ltd		12,975
	41,241	*	Schnell Biopharmaceuticals, Inc		80
	16,983	*,e	Scholar Rock Holding Corp		319
	127,960		Scinopharm Taiwan Ltd		110
	2,319	*,e	scPharmaceuticals, Inc		7
	43,895		Searle Co Ltd		74
	224,200	*	Seattle Genetics, Inc		16,420
	9,887	*	Seegene, Inc		191
	22,000		Seikagaku Corp		239
	22,504	*,e	Selecta Biosciences, Inc		53
	24,926	*,e	Seres Therapeutics, Inc		171
	17,500		Shandong Buchang Pharmaceuticals Co Ltd		75
	104,000		Shandong Xinhua Pharmaceutical Co Ltd		58
	57,300		Shanghai Fosun Pharmaceutical Group Co Ltd		253
	457,251		Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		1,655
	159,000		Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		143
	110,500	e,g	Shanghai Haohai Biological Technology Co Ltd		699
	3,300		Shenzhen Salubris Pharmaceuticals Co Ltd		13
	14,815		Shilpa Medicare Ltd		73
	384,568		Shionogi & Co Ltd		23,875
	46,100		Sichuan Kelun Pharmaceutical Co Ltd		198
	16,812		Siegfried Holding AG.		6,038
	20,452	*,e	Sienna Biopharmaceuticals, Inc		47
	80,750	*,e	SIGA Technologies, Inc		485
	3,421,000		Sihuan Pharmaceutical Holdings		829
	58,863	*,e	SillaJen, Inc		3,346
	6,667,307		Sino Biopharmaceutical		6,093
	15,965	*,e	Solid Biosciences, Inc		147
	128,528	*,e	Sorrento Therapeutics, Inc		611
	40,000	*,e	Sosei Group		546
	38,817	*	Spark Therapeutics, Inc		4,420
	138,878	*	Spectrum Pharmaceuticals, Inc		1,485
	8,737	*	Spero Therapeutics, Inc		112
	15,406	*,e	Spring Bank Pharmaceuticals, Inc		162
	1,654,000		SSY Group Ltd		1,542
	3,312	e	ST Pharm Co Ltd		64
	2,269	*	Stallergenes Greer plc		93
	11,225	*	STCUBE		237
	48,971	*	Stemline Therapeutics, Inc		629
	254,787		Strides Arcolab Ltd		1,736
	529,175		Sumitomo Dainippon Pharma Co Ltd		13,134

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	30,662	*	Sun Pharma Advanced Research Company Ltd	$	85
	727,310		Sun Pharmaceutical Industries Ltd		5,032
	148,498	*	Supernus Pharmaceuticals, Inc		5,203
	62,548	*	Surface Oncology, Inc		298
	7,966	*	Sutro Biopharma, Inc		91
	150,298		Suven Life Sciences Ltd		566
	93,572	*	Syndax Pharmaceuticals, Inc		491
	109,852	*	Syneos Health, Inc		5,686
	26,078	g	Syngene International Ltd		224
	26,467	*	Synlogic, Inc		201
	8,521	*,e	Synthorx, Inc		174
	30,288	*	Syros Pharmaceuticals, Inc		277
	50,985	*,e	T2 Biosystems, Inc		134
	206,799	*	Taigen Biopharmaceuticals Holdings Ltd		118
	240,000	*	TaiMed Biologics, Inc		1,311
	38,308		Taisho Pharmaceutical Holdings Co Ltd		3,660
	28,300		Takara Bio, Inc		659
	4,169,519		Takeda Pharmaceutical Co Ltd		170,751
	3,009,159		Takeda Pharmaceutical Co Ltd (ADR)		61,297
	131,605		Tanabe Seiyaku Co Ltd		1,763
	37,963	*	Tanvex BioPharma, Inc		91
	4,200		Tasly Pharmaceutical Group Co Ltd		14
	6,331		Tecan Group AG.		1,495
	2,233	*	Tego Science, Inc		74
	59,294	*,e	Teligent, Inc		69
	70,638	*	Tetraphase Pharmaceuticals, Inc		95
	4,501,890	*	Teva Pharmaceutical Industries Ltd (ADR)		70,590
	92,583	*,e	TG Therapeutics, Inc		744
	13,731	*	Theragen Etex Co Ltd		127
	225,646	*,e	TherapeuticsMD, Inc		1,099
	101,177	*,e	Theratechnologies, Inc		578
	110,542	*,e	Theravance Biopharma, Inc		2,506
	639,941		Thermo Fisher Scientific, Inc		175,165
	24,188	*,e	Tocagen, Inc		263
	756,000		Tong Ren Tang Technologies Co Ltd		1,016
	76,300		Tonghua Dongbao Pharmaceutical Co Ltd		197
	7,700		Torii Pharmaceutical Co Ltd		155
	256,500	e	Towa Pharmaceutical Co Ltd		6,764
	28,525	*,e	Translate Bio, Inc		291
	31,575	*	Tricida, Inc		1,219
	37,600		Tsumura & Co		1,145
	149,917		TTY Biopharm Co Ltd		406
	6,294	*,e	Twist Bioscience Corp		146
	132,570	*,e	Tyme Technologies, Inc		233
	102,736		UCB S.A.		8,825
	76,609	*	Ultragenyx Pharmaceutical, Inc		5,314
	3,831,500	e	United Laboratories Ltd		2,267
	35,883	*	United Therapeutics Corp		4,212
	32,264	*,e	UNITY Biotechnology, Inc		262
	27,778	*,e	Unum Therapeutics, Inc		122
	9,684	*	UroGen Pharma Ltd		358
	352,765	*	Vanda Pharmaceuticals, Inc		6,491
	343,001	*	Vectura Group plc		319

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	403,712	*	Veracyte, Inc	$	10,101
	90,634	*,e	Verastem, Inc		268
	240,462	*	Vericel Corp		4,211
	8,511	*	Verrica Pharmaceuticals, Inc		92
	518,386	*	Vertex Pharmaceuticals, Inc		95,357
	75,468		Vifor Pharma AG.		10,213
	76,969	*,e	Viking Therapeutics, Inc		765
	2,444	*,e	Virbac S.A.		401
	68,911	*	ViroMed Co Ltd		17,053
	233,199		Vitrolife AB		5,310
	73,295	*,e	Voyager Therapeutics, Inc		1,403
	111,027	*	Waters Corp		27,947
	25,890	*,e	WaVe Life Sciences Pte Ltd		1,006
	56,642		Whanin Pharmaceutical Co Ltd		900
	12,510,000		Winteam Pharmaceutical Group Ltd		7,450
	11,959	*	Wockhardt Ltd		76
	1,085,000	*,g	Wuxi Biologics Cayman, Inc		10,569
	10,001	*,e	X4 Pharmaceuticals, Inc		174
	114,521	*	Xencor Inc		3,557
	9,426	*	Xeris Pharmaceuticals, Inc		95
	8,810	*,e	XOMA Corp		109
	594,200	g	YiChang HEC ChangJiang Pharmaceutical Co Ltd		2,581
	8,673	*	Y-mAbs Therapeutics, Inc		227
	8,047		Yuhan Corp		1,703
	48,209	*	Yungjin Pharmaceutical Co Ltd		284
	314,000		YungShin Global Holding Corp		425
	14,800		Yunnan Baiyao Group Co Ltd		188
	32,540	*,e	Zafgen, Inc		89
	13,900	*,e	Zai Lab Ltd (ADR)		410
	19,865	*,e	Zealand Pharma AS		355
	21,000		Zeria Pharmaceutical Co Ltd		363
	16,200		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		276
	162,415	*,e	ZIOPHARM Oncology, Inc		625
	1,893,221		Zoetis, Inc		190,591
	51,908	*,e	Zogenix, Inc		2,855
	60,529	*,e	Zomedica Pharmaceuticals Corp		21
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		8,801,956
REAL ESTATE - 3.9%
	10,232,700		8990 Holdings, Inc		2,502
	422,164		Abacus Property Group		1,116
	98,054		Acadia Realty Trust		2,674
	737		Activia Properties Inc		3,062
	19,613		ADLER Real Estate AG.		289
	35,114	*	ADO Group Ltd		756
	82,458	g	ADO Properties S.A.		4,688
	999	*	Advance Residence Investment Corp		2,783
	188,489	*,g	Aedas Homes SAU		4,807
	16,714		Aedifica S.A.		1,596
	13,594		Aeon Mall Co Ltd		224
	4,825	*	AEON REIT Investment Corp		5,687
	1	*	Africa Israel Investments Ltd		0	^
	28,664	*	Africa Israel Properties Ltd		795
	1,320,000		Agile Property Holdings Ltd		2,143

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	171,901		Agree Realty Corp	$	11,920
	109,900		AIMS AMP Capital Industrial REIT		115
	138,143	*	Airport City Ltd		2,006
	8,391,821		Aldar Properties PJSC		4,148
	81,927		Alexander & Baldwin, Inc		2,084
	2,721		Alexander’s, Inc		1,024
	213,556		Alexandria Real Estate Equities, Inc		30,445
	38,320		Aliansce Shopping Centers S.A.		195
	377,149		Allco Commercial Real Estate Investment Trust		412
	102,083		Allied Properties Real Estate Investment Trust		3,766
	10,951		Allreal Holding AG.		1,864
	70,199		Alony Hetz Properties & Investments Ltd		791
	611,570		Alstria Office REIT-AG.		9,954
	12,947	*,e	Altisource Portfolio Solutions S.A.		306
	51,061	e	Altus Group Ltd		996
	68,000		Amata Corp PCL (Foreign)		45
	209,084		American Assets Trust, Inc		9,589
	154,493		American Campus Communities, Inc		7,351
	1,088,069		American Homes 4 Rent		24,721
	3,027	*,e	American Realty Investors, Inc		37
	1,028,132	e	American Tower Corp		202,604
	529,612		Americold Realty Trust		16,158
	92,432		Amot Investments Ltd		515
	12,742,100		Ananda Development PCL (Foreign)		1,439
	95,668	e	Apartment Investment & Management Co		4,811
	106,906		Apple Hospitality REIT, Inc		1,743
	1,444,058		Argosy Property Ltd		1,259
	133,758		Armada Hoffler Properties, Inc		2,085
	1,429,162		Aroundtown S.A.		11,788
	533,816		Arrowhead Properties Ltd (Class A)		139
	133,929		Artis Real Estate Investment Trust		1,113
	446,500		Ascendas Hospitality Trust		290
	1,583,708		Ascendas REIT		3,404
	821,691		Ascott Residence Trust		716
	113,456		Ashford Hospitality Trust, Inc		539
	9,661,460		Asian Property Development PCL (Foreign)		2,149
	197,000		Asiasec Properties Ltd		69
	1,344,705		Assura Group Ltd		1,005
	2,557,045	e	Attacq Ltd		2,555
	484,541		AvalonBay Communities, Inc		97,262
	171,242		Aventus Retail Property Fund Ltd		273
	238,468		Aveo Group		334
	12,782,115		Ayala Land, Inc		10,937
	4,761,352	*	AZ BGP Holdings		14
	42,976		Azrieli Group		2,546
	2,981,200		Bangkok Land PCL		148
	244,451	*	Barwa Real Estate Co		2,461
	613		Bayside Land Corp		293
	16,152		Befimmo SCA Sicafi		952
	5,270,000		Beijing Capital Land Ltd		2,017
	488,000		Beijing North Star Co		166
	10,395		Big Shopping Centers Ltd		706
	559,414		Big Yellow Group plc		7,228

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,106		BLife Investment Corp	$	4,672
	3,450		Blue Square Real Estate Ltd		136
	30,451		Bluerock Residential Growth REIT, Inc		328
	44,584		Boardwalk REIT		1,361
	721,489		Boston Properties, Inc		96,593
	756,362		BR Malls Participacoes S.A.		2,428
	72,008		BR Properties S.A.		164
	1,764	*	Brack Capital Properties NV		191
	139,266		BraeMar Hotels & Resorts, Inc		1,700
	633,108		Brandywine Realty Trust		10,041
	1,204,517		British Land Co plc		9,248
	372,519		Brixmor Property Group, Inc		6,843
	4,454		Brookfield Property Partners LP		92
	388,499	e	Brookfield Property REIT, Inc		7,960
	30,435		Brt Realty Trust		422
	376,779		Bunnings Warehouse Property Trust		1,001
	65,000		C&D International Investment Group Ltd		75
	199,795		CA Immobilien Anlagen AG.		7,217
	596,520		Cache Logistics Trust		328
	967,023		Cambridge Industrial Trust		386
	381,907		Camden Property Trust		38,764
	160,114		Canadian Apartment Properties REIT		6,155
	2,955,537		CapitaCommercial Trust		4,235
	443,746		Capital & Counties Properties		1,391
	284,261		Capital & Regional plc		94
	3,129,718		CapitaLand Ltd		8,444
	1,685,925		CapitaMall Trust		2,963
	342,232		CapitaRetail China Trust		397
	798,331		CareTrust REIT, Inc		18,729
	4,762,500	*	Carnival Group International Holdings Ltd		28
	327,750		Castellum AB		6,360
	177,397		CatchMark Timber Trust, Inc		1,742
	296,900		Cathay Real Estate Development Co Ltd		232
	220,116	e	CBL & Associates Properties, Inc		341
	969,456	*	CBRE Group, Inc		47,940
	433,020		CDL Hospitality Trusts		521
	15,000,000		Cebu Holdings, Inc		1,882
	502,274		Cedar Realty Trust, Inc		1,708
	131,188		Cedar Woods Properties Ltd		494
	374,000		Central China Real Estate Ltd		183
	962,258		Central Pattana PCL (Foreign)		2,224
	359,931		Centuria Industrial REIT		770
	1,700,806		Champion Real Estate Investment Trust		1,473
	118,092		Charter Hall Education Trust		292
	2,098,197		Charter Hall Group		15,308
	112,056		Charter Hall Long Wale REIT		363
	54,809		Chatham Lodging Trust		1,055
	81,687		Chesapeake Lodging Trust		2,272
	3,979,722		Cheuk Nang Holdings Ltd		2,215
	3,726,000		China Aoyuan Property Group Ltd		4,507
	4,029,663	e	China Evergrande Group		13,421
	39,200		China Fortune Land Development Co Ltd		180
	541,000	*,g	China Logistics Property Holdings Co Ltd		188
	700,000		China Merchants Land Ltd		117

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,400		China Merchants Shekou Industrial Zone Holdings Co Ltd	$	142
	9,385,021		China New Town Development Co Ltd		237
	3,622,000		China Overseas Grand Oceans Group Ltd		1,974
	5,331,253		China Overseas Land & Investment Ltd		20,288
	700,000		China Overseas Property Holdings Ltd		337
	3,705,644		China Resources Land Ltd		16,653
	15,662,400		China SCE Property Holdings Ltd		8,176
	918,615		China Vanke Co Ltd		3,866
	71,100		China Vanke Co Ltd (Class A)		324
	225,000	g	China Vast Industrial Urban Development Co Ltd		89
	316,000		Chinese Estates Holdings Ltd		368
	268,100	e	Chip Eng Seng Corp Ltd		152
	188,170		Choice Properties REIT		1,980
	118,088		Chong Hong Construction Co		345
	3,232,000		CIFI Holdings Group Co Ltd		2,455
	281,844		City Developments Ltd		1,886
	303,441		City Office REIT, Inc		3,432
	53,830	e	Citycon OYJ		551
	1,264,014		Civitas Social Housing plc		1,580
	3,276,922		CK Asset Holdings Ltd		29,184
	28,268		Clipper Realty, Inc		378
	25,023		Cofinimmo		3,323
	58,183		Colliers International Group, Inc		3,887
	905,754		Colony Capital, Inc		4,819
	206,000		Colour Life Services Group		150
	485,483		Columbia Property Trust, Inc		10,928
	347	*	Comforia Residential REIT, Inc		951
	117,851		Cominar Real Estate Investment Trust		1,042
	21,813		Community Healthcare Trust, Inc		783
	623,000		Concentradora Fibra Danhos S.A. de C.V.		889
	415,900	g	Concentradora Fibra Hotelera Mexicana S.A. de C.V.		203
	4,890		Consolidated-Tomoka Land Co		289
	18,779	*	Consus Real Estate AG.		135
	146,279		CoreCivic, Inc		2,845
	16,590	e	CorEnergy Infrastructure Trust, Inc		610
	126,198		CorePoint Lodging, Inc		1,410
	90,989		Coresite Realty		9,738
	70,228		Corestate Capital Holding S.A.		2,778
	1,503,336	e	Corp Inmobiliaria Vesta SAB de C.V.		2,174
	54,895		Corporate Office Properties Trust		1,499
	5,759,391		Country Garden Holdings Co Ltd		9,018
	531,705		Cousins Properties, Inc		5,136
	2,679	*,e	Covivio		282
	1,392	*	CRE Logistics REIT, Inc		1,404
	1,218	*	Crescendo Investment Corp		1,419
	58,579		Crombie Real Estate Investment Trust		624
	934,891		Cromwell Group		727
	925,966		Crown Castle International Corp		118,524
	7,768,943		CSI Properties Ltd		396
	68,139		CT Real Estate Investment Trust		732
	545,428		CubeSmart		17,475

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	585,342	*	Cushman & Wakefield plc	$	10,419
	312,684		CyrusOne, Inc		16,397
	21,784	*	D Carnegie & Co AB		422
	480	*	DA Office Investment Corp		3,415
	28,200		Daibiru Corp		268
	20,940		Daito Trust Construction Co Ltd		2,921
	308,254		Daiwa House Industry Co Ltd		9,817
	1,670,107		DAMAC Properties Dubai Co PJSC		616
	1,134,068		Delta Property Fund Ltd		138
	161,728		Derwent London plc		6,793
	242,077		Deutsche Annington Immobilien SE		12,563
	56,906		Deutsche Euroshop AG.		1,727
	282,631		Deutsche Wohnen AG.		13,715
	928,636		Dexus Property Group		8,405
	1,060,662	*	Deyaar Development PJSC		99
	310,814		DiamondRock Hospitality Co		3,366
	28,702		DIC Asset AG.		323
	239,242		Digital Realty Trust, Inc		28,470
	400,046		Dios Fastigheter AB		3,286
	244,714		Dongwon Development Co Ltd		912
	699,830	*	DoubleDragon Properties Corp		304
	307,360		Douglas Emmett, Inc		12,423
	488,138		Dream Global REIT		5,176
	62,076		Dream Industrial Real Estate Investment Trust		554
	38,442		Dream Office Real Estate Investment Trust		711
	94,843		Dream Unlimited Corp		552
	290,611		Duke Realty Corp		8,887
	73,418		Easterly Government Properties, Inc		1,322
	471,813		Eastern & Oriental BHD		105
	43,871		EastGroup Properties, Inc		4,898
	603,900	*	Eco World Development Group BHD		138
	592,100	*	Eco World International BHD		107
	913,672	*	Emaar Development PJSC		966
	1,870,589	*	Emaar Malls Group PJSC		887
	8,677,292		Emaar Properties PJSC		11,103
	1,619,132		Emira Property Fund Ltd		1,551
	955,235		Emlak Konut Gayrimenkul Yatiri		263
	1,451,333		Emperor International Holdings		449
	305,362		Empire State Realty Trust, Inc		4,825
	354,105		Empiric Student Property plc		422
	55,419		Entertainment Properties Trust		4,262
	322,574	g	Entra ASA		4,872
	159,053		Equinix, Inc		72,076
	279,405		Equites Property Fund Ltd		378
	164,496		Equity Commonwealth		5,377
	454,182		Equity Lifestyle Properties, Inc		51,913
	680,723		Equity Residential		51,272
	814,184	*	Eshraq Properties Co PJSC		102
	155,254		Essential Properties Realty Trust, Inc		3,031
	217,853		Essex Property Trust, Inc		63,012
	24,649		Eurobank Properties Real Estate Investment Co		298
	35,395		Eurocommercial Properties NV		1,021
	361,785		Extra Space Storage, Inc		36,869
	643,649	*	Ezdan Holding Group QSC		1,750

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	331,161		Fabege AB	$	4,813
	6,837,500		Fantasia Holdings Group Co Ltd		1,360
	1,654,869		Far East Consortium		793
	461,200		Far East Hospitality Trust		238
	169,812		Farglory Land Development Co Ltd		207
	107,976	e	Farmland Partners, Inc		691
	188,745	*	Fastighets AB Balder		6,055
	264,081		Federal Realty Investment Trust		36,404
	7,132,706		Fibra Uno Administracion S.A. de C.V.		9,856
	3,182,400		Filinvest Development Corp		914
	3,592,000		Filinvest Land, Inc		104
	72,600		Financial Street Holdings Co Ltd		93
	246,964		First Capital Realty, Inc		3,955
	453,718		First Industrial Realty Trust, Inc		16,043
	359,670		First Real Estate Investment Trust		263
	42,791		FirstService Corp		3,812
	17,589		Fonciere Des Regions		1,866
	14,266	*,e	Forestar Group, Inc		247
	547,487	e	Fortress REIT Ltd		409
	797,249		Fortress REIT Ltd (Class A)		1,012
	579,157		Four Corners Property Trust, Inc		17,143
	131,967		Franklin Street Properties Corp		949
	4,717,725		Franshion Properties China Ltd		3,085
	353,100		Frasers Centrepoint Trust		620
	468,200		Frasers Hospitality Trust		254
	1,052,510		Frasers Logistics & Industrial Trust		901
	77,478		Front Yard Residential Corp		718
	505	*	Frontier Real Estate Investment Corp		2,117
	9,608	*	FRP Holdings, Inc		457
	503	*	Fukuoka REIT Corp		773
	1,820,000	*	Future Land Development Holdings Ltd		2,260
	27,000		Future Land Holdings Co Ltd		182
	1,290,869		Gaming and Leisure Properties, Inc		49,789
	56,444		Gazit Globe Ltd		454
	6,989		Gazit, Inc		93
	265,425		GCP Student Living plc		528
	1,134,494		GDI Property Group		1,120
	20,515		Gecina S.A.		3,035
	81,900		Gemdale Corp		167
	2,556,000		Gemdale Properties and Investment Corp Ltd		326
	372,443		Geo Group, Inc		7,151
	145,161		Getty Realty Corp		4,649
	45,325		Gladstone Commercial Corp		941
	18,672	e	Gladstone Land Corp		236
	171,458		Global Medical REIT, Inc		1,684
	87,411		Global Net Lease, Inc		1,652
	518	*,e	Global One Real Estate Investment Corp		622
	1,507,000	*	Glorious Property Holdings Ltd		77
	2,719		GLP J-Reit		2,912
	29,003	*	Godrej Properties Ltd		341
	9,780		Goldcrest Co Ltd		132
	426,500		Golden Land Property Development PCL		112
	1,502,336		Goodman Property Trust		1,770

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,360,531		GPT Group (ASE)	$	6,001
	684,386		Grainger plc		2,109
	151,915		Grand City Properties S.A.		3,669
	51,519		Granite REIT		2,462
	58,794		Great Eagle Holdings Ltd		300
	819,753		Great Portland Estates plc		7,974
	4,319,176		Green REIT plc		7,269
	145,700		Greenland Holdings Corp Ltd		163
	453,000		Greenland Hong Kong Holdings Ltd		184
	5,324,500		Greentown China Holdings Ltd		5,329
	1,391		Griffin Land & Nurseries, Inc (Class A)		48
	790,000	*,e	Ground International Development Ltd		32
	1,067,466		Growthpoint Properties Australia Ltd		3,147
	5,585,656		Growthpoint Properties Ltd		9,456
	244,400	*	Grupo GICSA S.A. de C.V.		78
	4,464,013		Guangzhou R&F Properties Co Ltd		9,683
	157,600	e	Guocoland Ltd		226
	2,823,000		Guorui Properties Ltd		575
	260,344		H&R Real Estate Investment Trust		4,561
	37,160		Hamborner AG.		389
	1,242,960		Hammerson plc		5,441
	515,731		Hang Lung Group Ltd		1,658
	3,910,559		Hang Lung Properties Ltd		9,551
	368	*	Hankyu Reit, Inc		494
	84,259		Hannon Armstrong Sustainable Infrastructure Capital, Inc		2,160
	1,143,496		Hansteen Holdings plc		1,451
	1,135,494		HCP, Inc		35,541
	237,256		Healthcare Realty Trust, Inc		7,618
	627,991		Healthcare Trust of America, Inc		17,954
	23,800		Heiwa Real Estate Co Ltd		459
	173,871		Helical Bar plc		748
	58,454		Heliopolis Housing		81
	769,878		Hemfosa Fastigheter AB		6,761
	1,920,014		Henderson Land Development Co Ltd		12,220
	47,398	e	Hersha Hospitality Trust		812
	170,901		HFF, Inc (Class A)		8,161
	32,881,808	e	Hibernia REIT plc		49,279
	639,042		Highwealth Construction Corp		1,054
	190,691		Highwoods Properties, Inc		8,921
	117,880	e	HKC Holdings Ltd		100
	2,906,567		Hongkong Land Holdings Ltd		20,688
	151	*	Hoshino Resorts REIT, Inc		757
	71,412		Hospitality Properties Trust		1,879
	1,907,264		Host Marriott Corp		36,047
	75,721	*	Howard Hughes Corp		8,329
	269,235		Huaku Development Co Ltd		647
	387,121		Hudson Pacific Properties		13,325
	164,091		Hufvudstaden AB (Series A)		2,849
	278,817		Hulic Co Ltd		2,740
	935	*	Hulic Reit, Inc		1,593
	423,800		Hung Sheng Construction Co Ltd		409
	197,696		Hyprop Investments Ltd		966
	1,319,303		Hysan Development Co Ltd		7,072

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	14,680	e	Icade	$	1,242
	177,800	e	Ichigo Holdings Co Ltd		610
	911	*	Ichigo Real Estate Investment Corp		873
	555,300	*,e	IDU Co		547
	1,000,800		IGB Real Estate Investment Trust		454
	47,200		Iguatemi Empresa de Shopping Centers S.A.		469
	30,362		Immobiliare Grande Distribuzione SIIQ S.p.A		219
	51,016	*	IMMOFINANZ AG.		1,267
	106,902		Independence Realty Trust, Inc		1,153
	7,086,714	*	Indiabulls Real Estate Ltd		9,419
	2,036		Industrial & Infrastructure Fund Investment Corp		2,273
	388,605	*	Industrial Buildings Corp		627
	82,775		Industrial Logistics Properties Trust		1,670
	51,406		InfraREIT, Inc		1,078
	1,213,213		Ingenia Communities Group		2,602
	232,568		Inmobiliaria Colonial S.A.		2,392
	10,738	e	Innovative Industrial Properties, Inc		877
	934,400	*,g	Instone Real Estate Group AG.		20,963
	134,704		InterRent Real Estate Investment Trust		1,466
	649		Intershop Holding AG.		331
	11,149		Intervest Offices		301
	629,246	e	Intu Properties plc		874
	6,029		Invesco Office J-Reit, Inc		957
	3,301		Investis Holding S.A.		222
	14,800	e	Investors Cloud Co Ltd		36
	15,639		Investors Real Estate Trust		937
	43,897		Invincible Investment Corp		21,481
	825,235		Invitation Homes, Inc		20,078
	1,140,865		IOI Properties Group BHD		369
	1,402,338	e	Irish Residential Properties REIT plc		2,501
	524,496		Iron Mountain, Inc		18,599
	131,226		iShares Dow Jones US Real Estate Index Fund		11,422
	86,002	e	iStar Financial, Inc		724
	1,047	*	Japan Excellent, Inc		1,521
	19,638		Japan Hotel REIT Investment Corp		15,832
	853	*	Japan Logistics Fund Inc		1,808
	909		Japan Prime Realty Investment Corp		3,742
	715		Japan Real Estate Investment Corp		4,215
	1,198	*	Japan Rental Housing Investments, Inc		954
	2,922		Japan Retail Fund Investment Corp		5,871
	184,250		JBG SMITH Properties		7,619
	24,683		Jernigan Capital, Inc		519
	116,662	*	Jerusalem Economy Ltd		364
	1,596,750	*,†	Jiangsu Future Land Co Ltd		11,549
	1,124,996		Jiayuan International Group Ltd		595
	55,400		Jinke Properties Group Co Ltd		60
	44,785		Jones Lang LaSalle, Inc		6,905
	1,640,403		K Wah International Holdings Ltd		1,013
	2,473,000	*	Kaisa Group Holdings Ltd		1,124
	145,500	e	Katitas Co Ltd		5,010
	411		Kenedix Realty Investment Corp		2,853
	957	*	Kenedix Residential Investment Corp		1,587
	332	*	Kenedix Retail REIT Corp		810

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	463,000		Kenedix, Inc	$	2,321
	317,642		Kennedy-Wilson Holdings, Inc		6,794
	3,001,317		Keppel DC REIT		3,325
	1,752,170		Kerry Properties Ltd		7,834
	110,851		Killam Apartment Real Estate Investment Trust		1,609
	281,917		Kilroy Realty Corp		21,414
	178,328		Kimco Realty Corp		3,299
	163,000		Kindom Construction Co		106
	141,352		Kite Realty Group Trust		2,260
	932,967		Kiwi Property Group Ltd		944
	231,559	*	Klepierre		8,102
	2,061,171	e	Klovern AB (B Shares)		2,828
	28,799		Korea Asset In Trust Co Ltd		106
	72,282		Korea Real Estate Investment Trust Co		166
	1,055,191		K-REIT Asia		1,005
	583,333		Kungsleden AB		4,646
	1,085,108	*	KWG Property Holding Ltd		1,312
	810,593		Lai Fung Holdings Ltd		1,033
	582,380		Lai Sun Development Co Ltd		982
	220,560		Lamar Advertising Co		17,482
	15,679	*	Lamda Development S.A.		113
	2,913,400		Land and Houses PCL Co Reg		983
	420,651		Land Securities Group plc		5,008
	1,698,500		Langham Hospitality Investments Ltd		688
	256,900		Lar Espana Real Estate Socimi S.A.		2,145
	2,591	*	LaSalle Logiport REIT		2,562
	132,037		LEG Immobilien AG.		16,225
	498,939		Lend Lease Corp Ltd		4,390
	155,811	e	Leopalace21 Corp		312
	265,561		Lexington Realty Trust		2,406
	190,353		Liberty Property Trust		9,217
	17,133		Life Storage, Inc		1,667
	1,226,997		Link REIT		14,365
	4,833,300		Lippo-Mapletree Indonesia Retail Trust		703
	38,000		Liu Chong Hing Investment		67
	14,087	*	LOG Commercial Properties e Participacoes S.A.		61
	4,258,000		Logan Property Holdings Co Ltd		7,063
	2,312,727		London & Stamford Property plc		6,015
	1,219,178		Longfor Properties Co Ltd		4,300
	247,900		LPN Development PCL (Foreign)		54
	150,000	*	LPS Brasil Consultoria de Imoveis S.A.		186
	91,581		LTC Properties, Inc		4,194
	57,498		Macerich Co		2,493
	266,982		Mack-Cali Realty Corp		5,927
	206,963		Macquarie CountryWide Trust		684
	1,480,641		Macquarie Goodman Group		14,042
	827,990		Macquarie MEAG Prime REIT		446
	1,615,576		Mah Sing Group BHD		368
	708,372		Manulife US Real Estate Investment Trust		606
	35,779	*,†,e	Mapeley Ltd		0	^
	1,974,582		Mapletree Commercial Trust		2,755
	2,016,100		Mapletree Greater China Commercial Trust		1,965
	1,221,699		Mapletree Industrial Trust		1,894
	2,216,310		Mapletree Logistics Trust		2,389

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	75,255	*	Marcus & Millichap, Inc	$	3,065
	734,592		Matrix Concepts Holdings BHD		340
	6,663	*	Maui Land & Pineapple Co, Inc		76
	436,200		MBK PCL		286
	294,444		MedEquities Realty Trust, Inc		3,277
	500,547		Medical Properties Trust, Inc		9,265
	1,994,844	*	Medinet Nasr Housing		812
	130,586,463		Megaworld Corp		14,426
	34,645		Melisron Ltd		1,759
	29,788		Mercialys S.A		418
	365,783		Merlin Properties Socimi S.A.		4,787
	26,361	*,g	Metrovacesa S.A.		319
	2,426,300	g	Mexico Real Estate Management S.A. de C.V.		2,629
	976,709		MGM Growth Properties LLC		31,499
	1,076	*	MID Reit, Inc		989
	59,758		Mid-America Apartment Communities, Inc		6,533
	242	*	Mirai Corp		440
	2,815,642		Mirvac Group		5,500
	1,709,998		Mitsubishi Estate Co Ltd		31,028
	153	*	Mitsubishi Estate Logistics REIT Investment Corp		362
	847,979		Mitsui Fudosan Co Ltd		21,362
	4,392	*	Mitsui Fudosan Logistics Park, Inc		14,058
	6,467		Mobimo Holding AG.		1,627
	458,000	e	Modern Land China Co Ltd		83
	576,480		Monmouth Real Estate Investment Corp (Class A)		7,598
	7,212	e	Montea C.V.A		595
	34,670		Morguard Real Estate Investment Trust		323
	1,615		Mori Hills REIT Investment Corp		2,170
	227		Mori Trust Hotel Reit, Inc		282
	987	*	Mori Trust Sogo Reit, Inc		1,534
	204,529		Multiplan Empreendimentos Imobiliarios S.A.		1,222
	12,925		Nam Tai Property, Inc		127
	112,652		National Health Investors, Inc		8,849
	144,262		National Retail Properties, Inc		7,991
	446,374		National Storage Affiliates Trust		12,726
	2,449,726		National Storage REIT		3,070
	802,000		Neo-China Land Group Holdings Ltd		171
	792,028	*	NEPI Rockcastle plc		6,666
	9,561		NESCO Ltd		67
	101,679		New Senior Investment Group, Inc		554
	7,840,088		New World Development Co Ltd		13,012
	672,883		Newmark Group, Inc		5,612
	178,224	e	NewRiver REIT plc		554
	304,885		Nexity		14,881
	88,487		NexPoint Residential Trust, Inc		3,393
	398		Nippon Accommodations Fund, Inc		2,019
	1,159		Nippon Building Fund, Inc		7,848
	588	*,e	Nippon Healthcare Investment Corp		929
	1,181		Nippon ProLogis REIT, Inc		2,514
	1,918		NIPPON REIT Investment Corp		7,392
	338,158		Nomura Real Estate Holdings, Inc		6,507
	6,955		Nomura Real Estate Master Fund, Inc		10,246
	54,655		NorthStar Realty Europe Corp		949

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	87,409		Northview Apartment Real Estate Investment Trust	$	1,898
	74,267		NorthWest Healthcare Properties Real Estate Investment Trust		648
	41,173		NSI NV		1,748
	268,186	*	Nyfosa AB		1,607
	52,069		Oberoi Realty Ltd		397
	56,693		Office Properties Income Trust		1,567
	272,754		Omega Healthcare Investors, Inc		10,406
	79,027		One Liberty Properties, Inc		2,292
	281,400		Open House Co Ltd		9,685
	119,150		Origin Property PCL		26
	2,244		Orix JREIT, Inc		3,851
	594,912		OSK Holdings BHD		136
	573,500		OUE Hospitality Trust		307
	853,184		Outfront Media, Inc		19,964
	195,800	e	Overseas Union Enterprise Ltd		246
	782,629	*	Palm Hills Developments SAE		124
	505,010		Paramount Group, Inc		7,166
	387,348		Park Hotels & Resorts, Inc		12,039
	891,300		Parkway Life Real Estate Investment Trust		1,921
	672,663		Parque Arauco S.A.		1,799
	27,088		Patrizia Immobilien AG.		603
	450,800		Pavilion Real Estate Investment Trust		201
	178,751		Pebblebrook Hotel Trust		5,552
	92,389	e	Pennsylvania REIT		581
	65,762		Phoenix Mills Ltd		625
	657,076		Physicians Realty Trust		12,360
	158,260		Piedmont Office Realty Trust, Inc		3,300
	1,290,000		PLA Administradora Industrial S de RL de C.V.		1,992
	319,000		Platinum Group PCL		65
	1,072,817		Poly Hong Kong Investment Ltd		419
	94,234		Poly Real Estate Group Co Ltd		199
	80,822		Potlatch Corp		3,054
	4,692,000		Powerlong Real Estate Holdings Ltd		2,463
	742,741	e	Precinct Properties New Zealand Ltd		789
	318,342		Preferred Apartment Communities, Inc		4,718
	1,406	*	Premier Investment Co		1,772
	159,059		Prestige Estates Projects Ltd		580
	1,011,723	e	Primary Health Properties plc		1,711
	590,826		Prince Housing & Development Corp		223
	211,900		ProLogis Property Mexico S.A. de C.V.		408
	1,862,425		Prologis, Inc		134,001
	728,000		Prosperity REIT		328
	64,821		PS Business Parks, Inc		10,166
	56,499		PSP Swiss Property AG.		6,140
	4,156,100		PT Alam Sutera Realty Tbk		91
	6,586,747	*	PT Bumi Serpong Damai		651
	5,504,840		PT Ciputra Development Tbk		387
	36,246,600	*	PT Hanson International Tbk		260
	20,418,970		PT Kawasan Industri Jababeka Tbk		350
	5,344,300		PT Lippo Karawaci Tbk		108
	16,964,000		PT Pakuwon Jati Tbk		823
	14,433,262		PT PP Properti Tbk		149
	11,773,400	*	PT Sentul City Tbk		89

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,044,400		PT Summarecon Agung Tbk	$	333
	282,262		Public Storage, Inc		61,471
	1,269,824	*	Puravankara Projects Ltd		1,351
	1,028,165	*,e	Purplebricks Group plc		1,685
	365,699		QTS Realty Trust, Inc		16,453
	2,795,422		Quality House PCL		261
	320,433	*	Radium Life Tech Co Ltd		155
	3,829,009		RAK Properties PJSC		444
	341,630		Rayonier, Inc		10,768
	137,100		Raysum Co Ltd		1,266
	856,300		RDI REIT plc		1,695
	60,018		Re/Max Holdings, Inc		2,313
	233,938	e	Realogy Holdings Corp		2,667
	101,229		Realty Income Corp		7,446
	308,632	e	Rebosis Property Fund Ltd		38
	476,000	e,g	Redco Properties Group Ltd		224
	4,333,123		Redefine Properties Ltd		2,913
	94,032	*,e	Redfin Corp		1,906
	378,000	*	Redsun Properties Group Ltd		131
	741,264		Regency Centers Corp		50,028
	186,098	g	Regional REIT Ltd		255
	431,902		Reit Ltd		1,901
	72,900		Relo Holdings, Inc		2,053
	12,081,250	*	Renhe Commercial Holdings Co Ltd		416
	210,994		Resilient REIT Ltd		797
	10,819	e	Retail Estates NV		985
	263,019		Retail Opportunities Investment Corp		4,561
	417,735		Retail Properties of America, Inc		5,092
	75,520		Retail Value, Inc		2,354
	1,863,492		Rexford Industrial Realty, Inc		66,732
	301,005		RioCan Real Estate Investment Trust		5,962
	84,400		RiseSun Real Estate Development Co Ltd		141
	425,760		RLJ Lodging Trust		7,481
	27,244		RMR Group, Inc		1,661
	913,000		Road King Infrastructure		2,073
	2,284,764		Robinsons Land Corp		1,066
	1,588,500	*,e	Ronshine China Holdings Ltd		2,525
	96,155		RPT Realty		1,155
	468,454		Ruentex Development Co Ltd		709
	160,559		Rural Funds Group		259
	102,628		Ryman Hospitality Properties		8,440
	6,514,795	e	S.A. Corporate Real Estate Fund Nominees Pty Ltd		1,643
	1,360,973		Sabana Shari’ah Compliant Industrial REIT		427
	219,609		Sabra Healthcare REIT, Inc		4,276
	10,420		Safehold, Inc		227
	935,917		Safestore Holdings plc		7,271
	251,500		SAMTY Co Ltd		3,412
	2,669	*	Samty Residential Investment Corp		2,373
	13,590,777		Sansiri PCL		562
	34,403		Saul Centers, Inc		1,767
	118,996		Savills plc		1,403
	199,668	*	SBA Communications Corp		39,866
	1,066,300		SC Asset Corp PCL		101

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,429,562		Scentre Group	$	27,526
	320,195		Schroder Real Estate Investment Trust Ltd		231
	1,692,680		Segro plc		14,858
	13,780	*	Sekisui House Reit, Inc		10,412
	128,665		Selvaag Bolig ASA		642
	119,784		Senior Housing Properties Trust		1,411
	40,490	e	Seritage Growth Properties		1,799
	447,797		Shaftesbury plc		5,132
	257,800		Shanghai Erfangji Co Ltd		137
	852,187		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,250
	10,455,136		Shenzhen Investment Ltd		4,001
	1,584,261		Shimao Property Holdings Ltd		4,965
	192,050	*	Shining Building Business Co Ltd		66
	21,500	e	Shinoken Group Co Ltd		145
	1,156,730		Shopping Centres Australasia Property Group		2,169
	4,496,500		Shui On Land Ltd		1,113
	150,000	*	Shurgard Self Storage Europe Sarl		4,953
	461	*	SIA Reit, Inc		1,179
	258,700		Siam Future Development PCL		62
	7,384,860		Sime Darby Property BHD		2,010
	872,611		Simon Property Group, Inc		158,998
	697,600		Singha Estate PCL		71
	1,705,045		Sino Land Co		3,301
	2,220,139		Sino-Ocean Land Holdings Ltd		976
	131,692		Sinyi Realty Co		131
	2,005,906		Sirius Real Estate Ltd		1,656
	35,238		SITE Centers Corp		480
	101,850	*	Six of October Development & Investment		96
	4,356		SK D&D Co Ltd		117
	1,262,000		Skyfame Realty Holdings Ltd		182
	272,283		SL Green Realty Corp		24,484
	22,103,590		SM Prime Holdings		16,806
	118,171		Smart Real Estate Investment Trust		3,096
	23,773		Sobha Developers Ltd		177
	2,411,135	*	Soho China Ltd		1,016
	539,800		Soilbuild Business Space REIT		245
	14,200		Sonae Sierra Brasil S.A.		104
	1,367,591		SP Setia BHD		761
	63,634		Sparkassen Immobilien AG.		1,302
	432,600		SPH REIT		335
	217,496		Spirit MTA REIT		1,412
	40,716		Spirit Realty Capital, Inc		1,618
	111,049		ST Modwen Properties plc		575
	44,428	*	St. Joe Co		733
	593,429		STAG Industrial, Inc		17,595
	1,510,987		Standard Life Investment Property Income Trust Ltd		1,773
	5,795		Star Asia Investment Corp		5,719
	4,046,603		Stockland Trust Group		11,069
	718,000	e	StorageVault Canada, Inc		1,451
	508,178		STORE Capital Corp		17,024
	8,602	*	Stratus Properties, Inc		227
	253,092		Sumitomo Realty & Development Co Ltd		10,501
	297,583		Summit Hotel Properties, Inc		3,395

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	58,474		Summit Industrial Income REIT	$	526
	76,139		Summit Real Estate Holdings Ltd		674
	484,817		Sun Communities, Inc		57,460
	348,500		Sun Frontier Fudousan Co Ltd		3,738
	1,549,135		Sun Hung Kai Properties Ltd		26,631
	2,169,522		Sunac China Holdings Ltd		10,834
	7,440,000	*	Suncity Group Holdings Ltd		1,783
	1,057,000		Sunlight Real Estate Investment Trust		796
	727,060		Sunstone Hotel Investors, Inc		10,470
	2,969,867		Suntec Real Estate Investment Trust		4,279
	25,197		Sunteck Realty Ltd		168
	1,686,947		Sunway BHD		695
	845,000		Sunway Real Estate Investment		373
	167,500		Supalai PCL		100
	878,351		Swire Pacific Ltd (Class A)		11,314
	3,213,015		Swire Properties Ltd		13,828
	81,922		Swiss Prime Site AG.		7,181
	801,368		TAG Tegernsee Immobilien und Beteiligungs AG.		19,792
	862,100	e	Takara Leben Co Ltd		2,682
	77	*	Takara Leben Infrastructure Fu		79
	472,565		Talaat Moustafa Group		306
	115,551	e	Tanger Factory Outlet Centers, Inc		2,424
	104,667		Taubman Centers, Inc		5,535
	28,030	*	Tejon Ranch Co		493
	254,890		Terreno Realty Corp		10,716
	67,046		Tier REIT, Inc		1,922
	292,124		TLG Immobilien AG.		8,795
	27,900		TOC Co Ltd		193
	1,379,301		Tokyo Tatemono Co Ltd		16,944
	6,085,531		Tokyu Fudosan Holdings Corp		36,468
	549	*	Tokyu REIT, Inc		889
	222,500		Top Spring International Holdings Ltd		68
	830,800		Tosei Corp		7,529
	3,001	*	Tosei Reit Investment Corp		3,209
	2,736	*,e	Transcontinental Realty Investors, Inc		85
	176,445	e	Tricon Capital Group, Inc		1,520
	27,365	*	Trinity Place Holdings, Inc		109
	5,503,970		Tritax Big Box REIT plc		10,298
	4,112,721	g	Tritax EuroBox plc		5,207
	1,574,800	*	U City PCL		110
	134,928		UDR, Inc		6,134
	752,600		UEM Land Holdings BHD		151
	336,212		UMH Properties, Inc		4,734
	60,340	e	Unibail-Rodamco-Westfield		9,892
	3,960		Unibail-Rodamco-Westfield (Paris)		649
	760,921	*	Union Properties PJSC		77
	988,607		Unite Group plc		11,817
	456,314		United Development Co PSC		1,746
	3,009		United Urban Investment Corp		4,750
	356,296	e	Uniti Group, Inc		3,987
	460,400		Univentures PCL		89
	15,874		Universal Health Realty Income Trust		1,202
	253,900	e	Unizo Holdings Co Ltd		4,849

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	353,885		UOA Development BHD	$	187
	373,773		UOL Group Ltd		1,922
	135,988		Urban Edge Properties		2,584
	47,261		Urstadt Biddle Properties, Inc (Class A)		975
	7,757		Vastned Retail NV		301
	647,493		Ventas, Inc		41,317
	429,952		VEREIT, Inc		3,599
	893,482		VICI Properties, Inc		19,549
	5,934,545		Vicinity Centres		10,957
	19,239	e	Victoria Park AB		76
	7,570,600		Vista Land & Lifescapes, Inc		1,042
	1,235,544		Viva Energy REIT		2,229
	55,863		Vornado Realty Trust		3,767
	2,801,532		Vukile Property Fund Ltd		3,883
	90,770	e	Wallenstam AB		917
	67,118		Warehouses De Pauw SCA		10,766
	237,776	e	Washington Prime Group, Inc		1,343
	100,975		Washington REIT		2,866
	519,512	e	Watkin Jones plc		1,489
	83,013		Weingarten Realty Investors		2,438
	665,123	e	Welltower, Inc		51,614
	27,628	e	Wereldhave NV		756
	1,564,321		Weyerhaeuser Co		41,204
	4,393,635		WHA Corp PCL		585
	1,496,734		Wharf Holdings Ltd		4,525
	2,002,734		Wharf Real Estate Investment Co Ltd		14,926
	895,591		Wheelock & Co Ltd		6,573
	54,330	*	Whitestone REIT		653
	569,517		Wihlborgs Fastigheter AB		7,768
	215,740		Wing Tai Holdings Ltd		324
	239,042		Workspace Group plc		3,040
	63,232		WP Carey, Inc		4,953
	33,882		WPT Industrial Real Estate Investment Trust		472
	428,379		Xenia Hotels & Resorts, Inc		9,386
	28,200		Xinhu Zhongbao Co Ltd		16
	1,277,000		Yanlord Land Group Ltd		1,284
	821,466	e	Yoma Strategic Holdings Ltd		201
	50,300		Youngor Group Co Ltd		68
	392,600		YTL Hospitality REIT		123
	850,000		Yuexiu Real Estate Investment Trust		604
	6,250,000		Yuexiul Property Co Ltd		1,507
	2,975,622		Yuzhou Properties Co		1,800
	860,000	*	Zhuguang Holdings Group Co Ltd		135
			TOTAL REAL ESTATE		4,445,699
RETAILING - 5.4%
	139,219	*	1-800-FLOWERS.COM, Inc (Class A)		2,538
	163,023		Aaron’s, Inc		8,575
	27,420	e	ABC-Mart, Inc		1,632
	169,127		Abercrombie & Fitch Co (Class A)		4,636
	1,112,891		Accent Group Ltd		1,139
	29,700		Adastria Holdings Co Ltd		659
	164,079		Advance Auto Parts, Inc		27,980
	356,200		Aeon Co M Bhd		128

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,119,816	*	Alibaba Group Holding Ltd (ADR)	$	386,760
	10,400		Alpen Co Ltd		161
	1,159,258	*	Amazon.com, Inc		2,064,349
	378,817		American Eagle Outfitters, Inc		8,398
	28,319	*	America’s Car-Mart, Inc		2,587
	122,331	*,e	AO World plc		157
	19,900		AOKI Holdings, Inc		209
	21,441		Aoyama Trading Co Ltd		488
	7,200		Arata Corp		249
	92,400		Arc Land Sakamoto Co Ltd		1,253
	16,000	*	Arvind Fashions Ltd		241
	12,600		Asahi Co Ltd		174
	23,727	*	Asbury Automotive Group, Inc		1,646
	227,898	*,e	Ascena Retail Group, Inc		246
	11,100	e	ASKUL Corp		277
	316,098	*,e	ASOS plc		13,200
	56,894	*,e	At Home Group, Inc		1,016
	44,788		Autobacs Seven Co Ltd		745
	166,279	e	Automotive Holdings Group Ltd		207
	107,465	*	Autonation, Inc		3,839
	60,277	*	AutoZone, Inc		61,731
	2,195,666		B&M European Value Retail S.A.		10,696
	5,464,673	*	B2W Companhia Global Do Varejo		58,927
	35,424	*,e	Baozun, Inc (ADR)		1,471
	390,037	*	Barnes & Noble Education, Inc		1,638
	113,801	e	Barnes & Noble, Inc		618
	427,711		BCA Marketplace plc		1,101
	1,176,200		Beauty Community PCL (Foreign)		246
	454,600	e	Bed Bath & Beyond, Inc		7,724
	32,400		Belluna Co Ltd		252
	2,952,960		Berjaya Auto BHD		1,635
	854,442		Best Buy Co, Inc		60,717
	70,000		BIC CAMERA, Inc		736
	38,865	e	Big 5 Sporting Goods Corp		124
	49,634		Big Lots, Inc		1,887
	197,277		Bilia AB		1,684
	982,348	*	BJ’s Wholesale Club Holdings, Inc		26,916
	542,664	*	boohoo.com plc		1,337
	99,086	*	Booking Holdings, Inc		172,896
	33,955	*	Boot Barn Holdings, Inc		1,000
	568,512	*,e,g	Boozt AB		4,107
	537,000	*,†,e	Boshiwa International Holding		0	^
	33,983	e	Buckle, Inc		636
	133,355	*	Burlington Stores, Inc		20,894
	156,045		Burson Group Ltd		613
	51,074		Caleres, Inc		1,261
	44,128	e	Camping World Holdings, Inc		614
	64,372		Canadian Tire Corp Ltd		6,936
	36,000		Canon Marketing Japan, Inc		710
	570,548		Card Factory plc		1,342
	698,427	*	CarMax, Inc		48,750
	39,790	*,e	Carvana Co		2,310
	12,021		Cashbuild Ltd		205

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,729		Cato Corp (Class A)	$	655
	198,577		Chico’s FAS, Inc		848
	18,861		Children’s Place Retail Stores, Inc		1,835
	307,000	e	China Animation Characters Co Ltd		94
	24,700		China Grand Automotive Services Co Ltd		19
	449,000	e	China Harmony New Energy Auto Holding Ltd		169
	2,012,000		China Meidong Auto Holdings Ltd		977
	561,500		China ZhengTong Auto Services Holdings Ltd		313
	9,900	e	Chiyoda Co Ltd		159
	31,300		Chori Co Ltd		441
	641,000		Chow Sang Sang Holding		998
	176,248		Citi Trends, Inc		3,403
	23,877		CJ O Shopping Co Ltd		4,905
	21,985	e	Clas Ohlson AB (B Shares)		169
	367,000	g	Cogobuy Group		135
	5,734,300		Com7 PCL (Foreign)		3,243
	85,762	*	Conn’s, Inc		1,960
	218,934	*	Container Store Group, Inc		1,927
	374,470		Core-Mark Holding Co, Inc		13,904
	60,300	*,e	CROOZ, Inc		991
	1,511,783	*	Ctrip.com International Ltd (ADR)		66,050
	643	*	Cuckoo Homesys Co Ltd		111
	502,169		Dah Chong Hong Holdings Ltd		181
	594,200	e	DCM Japan Holdings Co Ltd		5,542
	22,215		Delek Automotive Systems Ltd		86
	72,985	*,g	Delivery Hero AG.		2,636
	196,030	*	Designer Brands Inc		4,356
	196,008		Dick’s Sporting Goods, Inc		7,215
	28,523		Dieteren S.A.		1,130
	14,331	e	Dillard’s, Inc (Class A)		1,032
	547,221		Dollar General Corp		65,283
	604,203	*	Dollar Tree, Inc		63,465
	293,250		Dollarama, Inc		7,823
	93,900		Don Quijote Co Ltd		6,221
	13,100		Doshisha Co Ltd		205
	131,830		Dufry Group		13,862
	11,653	*,e	Duluth Holdings, Inc		278
	268,776		Dunelm Group plc		3,044
	116,309	e,g	Dustin Group AB		1,091
	3,049,621		eBay, Inc		113,263
	401,883		EDION Corp		3,510
	48,386	*	eDreams ODIGEO S.A.		145
	880,736	e	El Puerto de Liverpool SAB de C.V.		5,586
	32,605		Empresas Tricot S.A.		40
	1,310,200	*,e	Esprit Holdings Ltd		283
	373,158	*	Etsy, Inc		25,084
	913,386	g	Europris ASA		2,920
	1,018,237		Expedia, Inc		121,170
	246,631	*	Express Parent LLC		1,056
	516,000		Far Eastern Department Stores Co Ltd		275
	907,148	*	Farfetch Ltd		24,411
	59,912		Fast Retailing Co Ltd		28,216
	161,663	*	Five Below, Inc		20,087
	102,727	*,e	Floor & Decor Holdings, Inc		4,234

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	316,205		Foot Locker, Inc	$	19,162
	280,293		Foschini Ltd		3,181
	10,000		Fuji Co Ltd		173
	14,682	*,e	Funko, Inc		319
	28,671		Future Lifestyle Fashions Ltd		203
	16,466	*,e	Gaia, Inc		151
	170,320	e	GameStop Corp (Class A)		1,730
	441,552		Gap, Inc		11,560
	37,330	*	Genesco, Inc		1,700
	58,526		Genuine Parts Co		6,557
	53,500		Geo Holdings Corp		744
	672,000		Giordano International Ltd		326
	146,628	*,e	GNC Holdings, Inc		400
	565,615		Gocompare.Com Group plc		567
	8,640,844	*,e	GOME Electrical Appliances Holdings Ltd		805
	458,500		Grand Baoxin Auto Group Ltd		159
	22,027		Group 1 Automotive, Inc		1,425
	11,153	*	Groupe Fnac		833
	4,080,907	*	Groupon, Inc		14,487
	667,897	*,e	GrubHub, Inc		46,399
	9,715		GS Home Shopping, Inc		1,531
	99,215		Guess?, Inc		1,945
	29,100	e	Gulliver International Co Ltd		85
	113,536		Halfords Group plc		343
	51,325		Hankyu Department Stores, Inc		716
	1,079,688	e	Harvey Norman Holdings Ltd		3,083
	24,761		Haverty Furniture Cos, Inc		542
	40,838	*	HelloFresh SE		384
	4,161,037	*	Hengdeli Holdings Ltd		204
	1,793,033		Hennes & Mauritz AB (B Shares)		29,914
	84,814	*	Hibbett Sports, Inc		1,935
	31,271		Hikari Tsushin, Inc		5,935
	3,264,089		Home Depot, Inc		626,346
	3,659,994		Home Product Center PCL (Foreign)		1,766
	5,839		Hornbach Holding AG. & Co KGaA		293
	516,518		Hotai Motor Co Ltd		6,339
	22,966		Hotel Shilla Co Ltd		1,935
	324,758	*	Hudson Ltd		4,465
	155,103	e	Hudson’s Bay Co		858
	69,076		Hyundai Department Store Co Ltd		6,157
	11,620		Hyundai Home Shopping Network Corp		1,116
	333,443		Inchcape plc		2,481
	972,158		Industria De Diseno Textil S.A.		28,583
	230,428		Isetan Mitsukoshi Holdings Ltd		2,331
	22,600	e	Istyle, Inc		188
	920,000		IT Ltd		426
	26,200		Izumi Co Ltd		1,223
	159,179		J Front Retailing Co Ltd		1,897
	88,660	e	J. Jill, Inc		487
	61,651		Jardine Cycle & Carriage Ltd		1,481
	143,393	e	JB Hi-Fi Ltd		2,543
	420,781	*,e	JC Penney Co, Inc		627
	1,612,255		JD Sports Fashion plc		10,564

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,811,800	*	JD.com, Inc (ADR)	$	54,626
	9,200		Jin Co Ltd		498
	48,892		John Menzies plc		311
	39,800		Joshin Denki Co Ltd		920
	29,400		Joyful Honda Co Ltd		372
	85,317		JUMBO S.A.		1,429
	38,900	*,e	Jumei International Holding Ltd (ADR)		92
	543,732	*	Just Eat plc		5,321
	21,187		Keiyo Co Ltd		95
	201,006		Kering		115,297
	447,989		Kingfisher plc		1,374
	5,200		Kintetsu Department Store Co Ltd		164
	149,991	*	Kirkland’s, Inc		1,054
	41,583	e	Kogan.com Ltd		105
	734,014		Kohl’s Corp		50,478
	149,700		Kohnan Shoji Co Ltd		3,717
	176,200		Komeri Co Ltd		4,323
	478,600		K’s Holdings Corp		4,246
	598,909		L Brands, Inc		16,518
	343,250		L’ Occitane International S.A.		636
	107,263	*,e	Lands’ End, Inc		1,782
	72,202	*	Leaf Group Ltd		579
	3,407,985		Li & Fung Ltd		614
	8,500		Liaoning Cheng Da Co Ltd		19
	343,709	*	Liberty Expedia Holdings, Inc		14,711
	347,000	*	Lifestyle China Group Ltd		125
	304,000		Lifestyle International Holdings Ltd		527
	30,099	*	Liquidity Services, Inc		232
	141,351		Lithia Motors, Inc (Class A)		13,110
	173,900		LIXIL VIVA Corp		2,207
	122,579	*	LKQ Corp		3,479
	600,000		Lojas Americanas S.A.		2,026
	4,986,894		Lojas Americanas S.A.(Preference)		21,360
	950,289		Lojas Renner S.A.		10,631
	308,730		Lookers plc		406
	10,415		LOTTE Himart Co Ltd		470
	51,345		Lotte Shopping Co Ltd		8,063
	146,126	e	Lovisa Holdings Ltd		931
	1,635,501	n	Lowe’s Companies, Inc		179,038
	219,000		Luk Fook Holdings International Ltd		738
	38,845	*,e	Lumber Liquidators, Inc		392
	562,375		Macy’s, Inc		13,514
	92,468		Magazine Luiza S.A.		4,082
	26,467	g	Maisons du Monde S.A.		512
	26,529	*	MarineMax, Inc		508
	317,695		Marks & Spencer Group plc		1,153
	165,023	e	Marui Co Ltd		3,337
	216,228		Matas A.S.		2,138
	17,200	e	Matsuya Co Ltd		156
	264,700	*,e	Meituan Dianping (Class B)		1,789
	21,908	e	Mekonomen AB		153
	300	*	Mercari, Inc		9
	115,531	*	Metro AG.		614
	494,541	*	Michaels Cos, Inc		5,648

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	120,525		Mobilezone Holding AG.	$	1,209
	103,000		momo.com, Inc		852
	1,894,693		Moneysupermarket.com Group plc		9,186
	39,370		Monro Muffler, Inc		3,406
	87,680		Motus Holdings Ltd		498
	212,642		Mr Price Group Ltd		2,793
	81,555	*	Murphy USA, Inc		6,983
	2,139,549	*,e	Myer Holdings Ltd		944
	95,968	e	N Brown Group plc		123
	772,223		Naspers Ltd (N Shares)		179,960
	77,411	*	National Vision Holdings, Inc		2,433
	1,072,705		New Carphone Warehouse plc		2,052
	39,372		Next plc		2,861
	17,200		Nextage Co Ltd		185
	25,700		Nishimatsuya Chain Co Ltd		216
	69,722		Nitori Co Ltd		9,015
	194,400		Nojima Corp		3,535
	233,846		Nordstrom, Inc		10,378
	9,577		NS Shopping Co Ltd		100
	491,430	*	Ocado Ltd		8,774
	671,048		Office Depot, Inc		2,436
	15,500	*,e	Oisix ra daichi, Inc		236
	194,581	*	Ollie’s Bargain Outlet Holdings, Inc		16,604
	395,969	g	On the Beach Group plc		2,261
	14,100	*	Open Door, Inc		430
	166,067	*	O’Reilly Automotive, Inc		64,484
	31,814	*,e	Overstock.com, Inc		529
	1,167,500		Padini Holdings BHD		1,028
	5,800		Pal Co Ltd		158
	80,900		Paltac Corp		4,412
	10,700	e	Parco Co Ltd		98
	67,003	*,e	Party City Holdco, Inc		532
	15,500	e	PC Depot Corp		62
	48,780	*	PC Home Online		206
	66,239		PC Jeweller Ltd		78
	1,074,469		Pendragon plc		392
	159,627		Penske Auto Group, Inc		7,127
	26,378	e	PetMed Express, Inc		601
	492,200		Petrobras Distribuidora S.A.		2,910
	285,894		Pets at Home Group plc		590
	235,400	*,e	Pinduoduo, Inc (ADR)		5,838
	79,244		Pool Corp		13,073
	5,118,500		Pou Sheng International Holdings Ltd		1,108
	33,701		Poya Co Ltd		399
	55,451		Premier Investments Ltd		641
	15,042,100		PT ACE Hardware Indonesia Tbk		1,881
	1,298,700		PT Matahari Department Store Tbk		374
	26,071,200		PT Mitra Adiperkasa Tbk		1,776
	7,524,400		PT Ramayana Lestari Sentosa Tbk		941
	81,500		PTG Energy PCL		26
	103,591	*	Quotient Technology, Inc		1,022
	1,497,666	*	Qurate Retail Group, Inc QVC Group		23,933
	1,504,318		Rakuten, Inc		14,276

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	221,426	*	Rent-A-Center, Inc	$	4,621
	39,366	*,e	RH		4,053
	375,352		Ripley Corp S.A.		306
	334,300		Robinson PCL		620
	47,213	*,g	Rocket Internet SE		1,201
	818,705		Ross Stores, Inc		76,221
	102,508	*	RTW RetailWinds, Inc		246
	20,500		Ryohin Keikaku Co Ltd		5,204
	611,278	e	SA SA International Holdings Ltd		209
	652,121		SACI Falabella		4,849
	151,149	*	Sally Beauty Holdings, Inc		2,783
	28,700		Sanrio Co Ltd		686
	261,000		Senao International Co Ltd		308
	13,287	*	Seobu Truck Terminal Co Ltd		115
	30,000		Seria Co Ltd		1,035
	36,059		Shankara Building Products Ltd		213
	25,200		Shimachu Co Ltd		657
	16,803		Shimamura Co Ltd		1,424
	44,583		Shinsegae Co Ltd		13,291
	1,781		Shinsegae International Co Ltd		471
	13,511	e	Shoe Carnival, Inc		460
	4,888	*,g	Shop Apotheke Europe NV		201
	12,294		Shopper’s Stop Ltd		84
	41,331	*	Shutterfly, Inc		1,680
	21,537		Shutterstock, Inc		1,004
	790,321		Siam Global House PCL		432
	97,393		Signet Jewelers Ltd		2,645
	45,988	g	Sleep Country Canada Holdings, Inc		653
	183,465	*	Sleep Number Corp		8,623
	33,742		Sonic Automotive, Inc (Class A)		500
	125,263	*	Sports Direct International plc		477
	51,556	*	Sportsman’s Warehouse Holdings, Inc		247
	21,660	*	Stamps.com, Inc		1,763
	67,016		Start Today Co Ltd		1,267
	199,800		Suning.com Co Ltd		373
	241,923		Super Cheap Auto Group Ltd		1,381
	191,853	*	Super Group Ltd		442
	41,373	e	SuperGroup plc		295
	102,391	e	Tailored Brands, Inc		803
	96,809		Takashimaya Co Ltd		1,290
	22,054	*,g	Takeaway.com Holding BV		1,675
	19,001		Takkt AG.		312
	1,074,318		Target Corp		86,225
	62,500		Telepark Corp		1,038
	36,000		Test-Rite International Co		26
	664,382		Tiffany & Co		70,125
	55,247		Tile Shop Holdings, Inc		313
	394,832		Tilly’s, Inc		4,394
	2,553,318		TJX Companies, Inc		135,862
	31,023		Tokmanni Group Corp		289
	2,800	*	Tokyo Base Co Ltd		25
	9,500		Tokyo Derica Co Ltd		99
	266,050		Tractor Supply Co		26,009
	243,280		Trade Me Ltd		1,064

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	710,605		Truworths International Ltd	$	3,437
	255,274	*	Ulta Beauty, Inc		89,022
	52,581	e	Uni-Select, Inc		545
	55,199		United Arrows Ltd		1,923
	160,576	*	Urban Outfitters, Inc		4,759
	200,486		USS Co Ltd		3,729
	1,990	e	Valora Holding AG.		549
	2,723,900		Via Varejo S.A.		2,936
	323,200	*	Vipshop Holdings Ltd (ADR)		2,595
	4,271		V-Mart Retail Ltd		166
	35,200		VT Holdings Co Ltd		133
	144,468	*,e	Wayfair, Inc		21,446
	1,020,000	*	We Solutions Ltd		64
	110,492		Webjet Ltd		1,142
	1,263,266		Wesfarmers Ltd		31,108
	14,221		Weyco Group, Inc		440
	513,876		WH Smith plc		14,216
	771,700		Wilcon Depot, Inc		228
	225,268	e	Williams-Sonoma, Inc		12,676
	3,135		Winmark Corp		591
	807,751		Woolworths Holdings Ltd		2,603
	12,800		Xebio Co Ltd		141
	72,951	g	XXL ASA		241
	809,104	e	Yamada Denki Co Ltd		3,990
	102,600		Yellow Hat Ltd		1,352
	90,000	e	Yume No Machi Souzou Iinkai Co Ltd		1,297
	8,495	*,g	Zalando SE		331
	451,000		Zhongsheng Group Holdings Ltd		1,122
	3,328	*	zooplus AG.		379
	171,328	*	Zumiez, Inc		4,265
			TOTAL RETAILING		6,182,452
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.5%
	430,635	*	Acacia Communications, Inc		24,697
	7,843	*,e	ACM Research, Inc		121
	1,317,615		A-DATA Technology Co Ltd		1,707
	40,569	*,e	Adesto Technologies Corp		245
	87,949	*	Advanced Energy Industries, Inc		4,369
	4,688,940	*,e	Advanced Micro Devices, Inc		119,662
	6,279		Advanced Process Systems Corp		154
	409,600		Advantest Corp		9,567
	71,253	*	Aixtron AG.		643
	27,755	*	Alpha & Omega Semiconductor Ltd		319
	38,575	*,e	Ambarella, Inc		1,666
	390,486	*	Amkor Technology, Inc		3,335
	47,961	e	ams AG.		1,297
	735,333		Analog Devices, Inc		77,409
	6,500		AOI Electronics Co Ltd		142
	2,526,087		Applied Materials, Inc		100,185
	33,984	*	Aquantia Corp		308
	230,738		Ardentec Corp		214
	2,562,245	*	ASE Industrial Holding Co Ltd		5,621
	29,777		ASM International NV		1,618

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	312,904		ASM Pacific Technology	$	3,496
	20,884		ASMedia Technology, Inc		384
	626,429		ASML Holding NV		117,737
	12,000		ASPEED Technology, Inc		275
	16,125	*	Atto Co Ltd		69
	68,823	*	Axcelis Technologies, Inc		1,385
	51,965	*	AXT, Inc		231
	47,318		BE Semiconductor Industries NV		1,263
	1,265,273		Broadcom, Inc		380,480
	163,242		Brooks Automation, Inc		4,788
	46,903		Cabot Microelectronics Corp		5,251
	36,174	*	Ceva, Inc		975
	11,000		Chang Wah Technology Co Ltd		99
	11,538	*,†	China Energy Savings Technology, Inc		0
	4,136,100		Chipbond Technology Corp		9,570
	173,436		ChipMOS Technologies, Inc		148
	109,095	*	Cirrus Logic, Inc		4,590
	134,724		Cohu, Inc		1,987
	1,210,811	*	Cree, Inc		69,283
	788,790		Cypress Semiconductor Corp		11,769
	101,623		Dainippon Screen Manufacturing Co Ltd		4,111
	29,500	*,e	Daqo New Energy Corp (ADR)		974
	441,487	*	Dialog Semiconductor plc		13,464
	295,350	*	Diodes, Inc		10,249
	23,100	e	Disco Corp		3,308
	133,236		Dongbu HiTek Co Ltd		1,471
	167,400		Elan Microelectronics Corp		482
	145,000		Elite Semiconductor Memory Technology, Inc		149
	23,200		Elmos Semiconductor AG.		508
	43,571		eMemory Technology, Inc		456
	319,205		Entegris, Inc		11,392
	4,597		Eo Technics Co Ltd		279
	524,000		Epistar Corp		423
	258,000		Everlight Electronics Co Ltd		262
	114,060		Faraday Technology Corp		165
	16,800	e	Ferrotec		169
	193,317	*	First Solar, Inc		10,215
	197,000		Forhouse Corp		132
	92,316	*	Formfactor, Inc		1,485
	144,000		Formosa Advanced Technologies Co Ltd		166
	231,850		Foxsemicon Integrated Technology, Inc		1,039
	6,851,000	*,e	GCL Poly Energy Holdings Ltd		480
	14,952	*	GemVax & Kael Co Ltd		203
	46,000		Global Unichip Corp		308
	199,000		Globalwafers Co Ltd		1,966
	296,033		Globetronics Technology BHD		127
	167,000		Greatek Electronics, Inc		231
	297,900		Hana Microelectronics PCL (Foreign)		291
	12,664		Hanmi Semiconductor Co Ltd		90
	100,000		Holtek Semiconductor, Inc		237
	670,000	g	Hua Hong Semiconductor Ltd		1,575
	1,000,812		Hynix Semiconductor, Inc		65,620
	31,380	*,e	Ichor Holdings Ltd		709
	21,379	*,e	Impinj, Inc		358

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,829,304		Infineon Technologies AG.	$	36,316
	3,801	*	Innox Advanced Materials Co Ltd		154
	580,530	*,e	Inphi Corp		25,392
	276,198	*	Integrated Device Technology, Inc		13,531
	11,370,183		Intel Corp		610,579
	478,331	*,e	IQE plc		460
	46,200		Japan Material Co Ltd		569
	165,600	*,e	JinkoSolar Holding Co Ltd (ADR)		2,981
	20,084		Jusung Engineering Co Ltd		123
	602,000		King Yuan Electronics Co Ltd		514
	148,000		Kinsus Interconnect Technology Corp		217
	375,436	h	Kla-Tencor Corp		44,831
	5,426		Koh Young Technology, Inc		409
	85,280	*,e	Kopin Corp		114
	7,137		L&F Co Ltd		181
	439,647		Lam Research Corp		78,701
	36,800		Land Mark Optoelectronics Corp		338
	22,100		Lasertec Corp		928
	1,246,947	*	Lattice Semiconductor Corp		14,876
	7,345		LEENO Industrial Inc		387
	179,726		Lextar Electronics Corp		96
	34,300		LONGi Green Energy Technology Co Ltd		133
	17,000		Machvision, Inc		240
	58,005	*,e	MA-COM Technology Solutions		969
	977,000		Macronix International		665
	40,700		Malaysian Pacific Industries BHD		100
	4,346,212		Marvell Technology Group Ltd		86,446
	486,600		Maxim Integrated Products, Inc		25,873
	78,833	*	MaxLinear, Inc		2,013
	4,269,194		MediaTek, Inc		39,252
	1,740		Meerecompany, Inc		96
	9,700	e	Megachips Corp		149
	11,871	e	Melexis NV		719
	1	*	Mellanox Technologies Ltd		0	^
	340,916	*	Meyer Burger Technology AG.		227
	342,827	e	Microchip Technology, Inc		28,441
	2,076,488	*	Micron Technology, Inc		85,821
	17,300		Micronics Japan Co Ltd		115
	40,400		Mimasu Semiconductor Industry Co Ltd		539
	13,800	e	Mitsui High-Tec, Inc		127
	92,844		MKS Instruments, Inc		8,639
	190,245		Monolithic Power Systems, Inc		25,776
	28,915	*	Nanometrics, Inc		893
	957,000		Nanya Technology Corp		1,914
	1,081,405	*	Neo Solar Power Corp		352
	293,900	*,e	NeoPhotonics Corp Ltd		1,849
	95,085	*	Nordic Semiconductor ASA		399
	16,415	*	Nova Measuring Instruments Ltd		403
	2,704,752		Novatek Microelectronics Corp Ltd		17,415
	24,400		Nuflare Technology, Inc		1,356
	6,398		NVE Corp		626
	1,294,829		NVIDIA Corp		232,500
	1,735,199		NXP Semiconductors NV		153,374

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,105,008	*	ON Semiconductor Corp	$	22,730
	16,440		On-Bright Electronics, Inc		102
	11,300		Optorun Co Ltd		220
	159,000	*	Pan Jit International, Inc		138
	41,401		Parade Technologies Ltd		696
	38,654	*,e	PDF Solutions, Inc		477
	93,895		Phison Electronics Corp		922
	175,827	*	Photronics, Inc		1,662
	69,613		Pixart Imaging, Inc		198
	42,064		Power Integrations, Inc		2,942
	433,397		Powertech Technology, Inc		1,026
	388,091	*	Qorvo, Inc		27,838
	2,907,232	n	QUALCOMM, Inc		165,799
	2,454,000		Radiant Opto-Electronics Corp		7,867
	491,841	*	Rambus, Inc		5,140
	2,393,333		Realtek Semiconductor Corp		14,181
	1,448,385	*	Renesas Electronics Corp		6,731
	5,497		RFHIC Corp		140
	865,221		Rohm Co Ltd		54,210
	2,700	e	RS Technologies Co Ltd		69
	64,395	*	Rudolph Technologies, Inc		1,468
	6,415,471		Samsung Electronics Co Ltd		253,045
	809,733		Samsung Electronics Co Ltd (Preference)		25,928
	55,638		Sanan Optoelectronics Co Ltd		121
	12,499		Sanken Electric Co Ltd		233
	65,000		SDI Corp		151
	2,452,047	*,e	Semiconductor Manufacturing International Corp		2,485
	290,976	*	Semtech Corp		14,814
	20,201		Seoul Semiconductor Co Ltd		368
	144,000	*	Shanghai Fudan Microelectronics Group Co Ltd		227
	8,400		Shindengen Electric Manufacturing Co Ltd		311
	783,000	*,e	Shinkawa Ltd		2,952
	38,700		Shinko Electric Industries		297
	207,000		Sigurd Microelectronics Corp		203
	109,934		Silergy Corp		1,647
	53,132	*	Silicon Laboratories, Inc		4,296
	6,130		Silicon Works Co Ltd		229
	138,470		Siltronic AG.		12,215
	264,000		Sino-American Silicon Products, Inc		580
	165,000		Sitronix Technology Corp		760
	421,131		Skyworks Solutions, Inc		34,735
	6,378		SMA Solar Technology AG.		131
	13,310	*	SMART Global Holdings, Inc		256
	11,496	*	SOITEC		943
	599,713		STMicroelectronics NV		8,895
	1,000,534		Sumco Corp		11,192
	87,520	*,e	SunPower Corp		570
	290,600		SVI PCL (Foreign)		44
	629,000		Taiwan Semiconductor Co Ltd		1,151
	35,778,958	n	Taiwan Semiconductor Manufacturing Co Ltd		286,556
	518,712		Teradyne, Inc		20,666
	1,852,538		Texas Instruments, Inc		196,499
	2,463		Tokai Carbon Korea Co Ltd		143
	103,255		Tokyo Electron Ltd		14,978

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,900		Tokyo Seimitsu Co Ltd	$	559
	635,550		Topco Scientific Co Ltd		1,648
	12,785		Toptec Co Ltd		115
	59,643	*	Tower Semiconductor Ltd		983
	1,746,000	*,†	Trony Solar Holdings Co Ltd.		2
	4,815		U-Blox AG.		366
	13,100		UKC Holdings Corp		243
	49,866	*	Ultra Clean Holdings		516
	24,600		Ulvac, Inc		715
	25,894,871		United Microelectronics Corp		9,807
	151,301	e	Universal Display Corp		23,126
	584,228		Vanguard International Semiconductor Corp		1,264
	57,665	*	Veeco Instruments, Inc		625
	164,597		Versum Materials, Inc		8,281
	108,000	*	Via Technologies, Inc		141
	85,068		Visual Photonics Epitaxy Co Ltd		253
	69,200		ViTrox Corp BHD		122
	256,975		Wafer Works Corp		309
	304,000		Win Semiconductors Corp		2,156
	2,170,000		Winbond Electronics Corp		1,042
	15,919		WONIK IPS Co Ltd		329
	31,084	*,e,g	X-Fab Silicon Foundries SE		151
	1,076,133		Xilinx, Inc		136,443
	86,000	*	XinTec, Inc		112
	2,571,725		Xinyi Solar Holdings Ltd		1,239
	122,572		Xperi Corp		2,868
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		4,054,863
SOFTWARE & SERVICES - 9.3%
	31,100	*	21Vianet Group, Inc (ADR)		247
	98,608	*,e	2U, Inc		6,986
	54,300		360 Security Technology, Inc		208
	117,352	*	8x8, Inc		2,371
	392,530	*	A10 Networks, Inc		2,783
	1,533,283		Accenture plc		269,888
	193,983	*	ACI Worldwide, Inc		6,376
	835,826	*	Adobe, Inc		222,739
	58,534	*,g	Adyen NV		45,911
	465,910	*	Afterpay Touch Group Ltd		6,985
	1,844,000	*,e	AGTech Holdings Ltd		120
	3,209		Ahnlab, Inc		148
	56,600		Aisino Corp		235
	549,090	*	Akamai Technologies, Inc		39,375
	71,582	*	Alarm.com Holdings, Inc		4,646
	151,667	*,g	Alfa Financial Software Holdings plc		296
	144,179		Alliance Data Systems Corp		25,228
	198,487		Alpha Systems, Inc		4,710
	69,235	*	Altair Engineering, Inc		2,549
	32,145		Alten		3,442
	36,830	*,e	Alteryx, Inc		3,089
	166,721		Altium Ltd		3,842
	136,544	e	Altran Technologies S.A.		1,500
	614,098		Amadeus IT Holding S.A.		49,219

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	152,027	*	Amber Road, Inc	$	1,318
	310,113		Amdocs Ltd		16,780
	35,185	*	American Software, Inc (Class A)		420
	1,092,436	*,e	Anaplan, Inc		42,998
	90,852	*	Ansys, Inc		16,600
	199,122		Appen Ltd		3,164
	20,881	*	Appfolio, Inc		1,658
	41,200		Argo Graphics, Inc		880
	148,484	*	Aspen Technology, Inc		15,481
	321,136		Asseco Poland S.A.		4,344
	14,292	*,e	Asure Software, Inc		87
	165,602	*	Atlassian Corp plc		18,612
	116,196		Atos Origin S.A.		11,217
	16,859		Aubay		599
	224,185	*	Autodesk, Inc		34,933
	1,115,199		Automatic Data Processing, Inc		178,142
	39,624	*	Avalara, Inc		2,211
	544,454	*,g	Avast plc		2,011
	127,832	*	Avaya Holdings Corp		2,151
	52,222		Aveva Group plc		2,196
	47,426		Bechtle AG.		4,400
	8,600		Beijing Shiji Information Technology Co Ltd		42
	46,133	*,e	Benefitfocus, Inc		2,284
	437,836	*	Black Knight, Inc		23,862
	60,557		Blackbaud, Inc		4,828
	580,726	*	Blackberry Ltd (New)		5,854
	164,687	*	Blackline, Inc		7,628
	186,615	*,e	Blue Prism Group plc		4,030
	385,843		Booz Allen Hamilton Holding Co		22,433
	78,430	*	Bottomline Technologies, Inc		3,929
	405,486	*	Box, Inc		7,830
	510,813		Bravura Solutions Ltd		1,987
	46,410	*	Brightcove, Inc		390
	58,600		Broadleaf Co Ltd		309
	226,340		Broadridge Financial Solutions, Inc		23,469
	82,275	*	CACI International, Inc (Class A)		14,976
	635,590	*	Cadence Design Systems, Inc		40,366
	10,370	*	Cafe24 Corp		990
	25,830		Cancom SE		1,165
	179,832		Cap Gemini S.A.		21,821
	52,124	*,e	Carbon Black, Inc		727
	37,106	*	Carbonite, Inc		921
	49,920	*	Cardtronics plc		1,776
	17,841		Cass Information Systems, Inc		844
	309,887		CDK Global, Inc		18,228
	65,736	*,e	Ceridian HCM Holding, Inc		3,372
	473,039	*	CGI, Inc		32,520
	138,108	*	ChannelAdvisor Corp		1,682
	150,518	*	Check Point Software Technologies		19,039
	1,098,000	e	Chinasoft International Ltd		681
	1,412,313		Cielo S.A.		3,423
	80,551	*	Cision Ltd		1,109
	142,329		Citrix Systems, Inc		14,185
	1,252,068	*	Cloudera, Inc		13,698

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,296,804		Cognizant Technology Solutions Corp (Class A)	$	93,953
	49,576	*	Commvault Systems, Inc		3,210
	332,290		Computacenter plc		4,789
	14,800		Computer Engineering & Consulting Ltd		277
	729,392		Computershare Ltd		8,867
	13,500		Comture Corp		445
	173,129	*	Conduent, Inc		2,394
	25,970		Constellation Software, Inc		22,008
	67,671	*	Cornerstone OnDemand, Inc		3,707
	145,118	*	Coupa Software, Inc		13,203
	91,217		CSG Systems International, Inc		3,858
	114,133	*	CyberArk Software Ltd		13,588
	962,748		Dassault Systemes S.A.		143,496
	559,286	*	Descartes Systems Group, Inc		20,332
	16,189		Devoteam S.A.		1,796
	17,400		DHC Software Co Ltd		23
	15,090	*,e	Digimarc Corp		474
	12,100		Digital Arts, Inc		992
	373,000	*	Digital China Holdings Ltd		199
	19,500		Digital Garage, Inc		574
	167,188	*	DocuSign, Inc		8,667
	20,761	*,e	Domo, Inc		837
	56,500		DTS Corp		2,092
	13,536		DuzonBIzon Co Ltd		557
	2,195,877		DXC Technology Co		141,217
	27,777	e	Ebix, Inc		1,371
	22,828		eClerx Services Ltd		378
	71,462	e	Econocom Group S.A.		291
	140,294	*	EDB Business Partner ASA		518
	21,747	*	eGain Corp		227
	13,709	*,e	Elastic NV		1,095
	42,818	*	Ellie Mae, Inc		4,226
	50,103		Ementor ASA		727
	292,656	*	Endurance International Group Holdings, Inc		2,122
	52,830		Enghouse Systems Ltd		1,342
	56,560	*	Envestnet, Inc		3,698
	73,177	e	EOH Holdings Ltd		53
	50,104	*	EPAM Systems, Inc		8,474
	651,120	g	Equiniti Group plc		1,764
	132,246	*	Euronet Worldwide, Inc		18,857
	178,403	*	Everbridge, Inc		13,382
	853,585	*	Everi Holdings, Inc		8,980
	457,359		EVERTEC, Inc		12,719
	30,467	*	Evo Payments, Inc		885
	60,396	*	Exela Technologies, Inc		202
	39,682	*	ExlService Holdings, Inc		2,382
	68,092	*	Fair Isaac Corp		18,496
	2,300	*,e	FFRI, Inc		66
	890,242		Fidelity National Information Services, Inc		100,686
	235,305	*,e	FireEye, Inc		3,951
	156,191	*	First American Corp		5,820
	935,135	*	First Data Corp		24,566
	56,363	e	First Derivatives plc		1,975

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	876,928		Firstsource Solutions Ltd	$	594
	862,915	*	Fiserv, Inc		76,178
	370,256	*	Five9, Inc		19,561
	156,804	*	FleetCor Technologies, Inc		38,666
	359,428	*	ForeScout Technologies, Inc		15,064
	17,366		Formula Systems 1985 Ltd		814
	290,284	*	Fortinet, Inc		24,375
	135,642		Fortnox AB		1,371
	59,035		F-Secure Oyj		162
	39,500		FUJI SOFT, Inc		1,567
	695,234		Fujitsu Ltd		50,279
	4,200		Fukui Computer Holdings, Inc		78
	50,600		Future Architect, Inc		870
	162,285	*	Gartner, Inc		24,615
	103,645		GB Group plc		661
	201,800	*,e	GDS Holdings Ltd (ADR)		7,202
	44,870	*	Gemalto NV		2,566
	840,995		Genpact Ltd		29,586
	6,651		GFT Technologies AG.		57
	123,073	*,g	Global Dominion Access S.A.		656
	389,121		Global Payments, Inc		53,123
	40,600		GMO internet, Inc		664
	20,100		GMO Payment Gateway, Inc		1,433
	599,017	*	GoDaddy, Inc		45,040
	138,063	*,e	GreenSky, Inc		1,787
	53,005	*,e	GTT Communications, Inc		1,839
	87,421	*	Guidewire Software, Inc		8,494
	28,900	*,e	Gunosy, Inc		626
	8,912		Haansoft, Inc		106
	108,445		Hackett Group, Inc		1,713
	91,841		Hansen Technologies Ltd		190
	668,947		HCL Technologies Ltd		10,510
	7,700		Hearts United Group Co Ltd		90
	117,536		Hexaware Technologies Ltd		586
	1,029,000	*	Hi Sun Technology China Ltd		176
	17,417		Hilan Ltd		474
	267,418	*	HubSpot, Inc		44,448
	5,200		Hundsun Technologies, Inc		68
	10,574	*	I3 Verticals, Inc		254
	44,400		Iflytek Co Ltd		240
	72,526	*	Indra Sistemas S.A.		806
	150,000		Ines Corp		1,788
	211,786		Inesa Intelligent Tech, Inc - B		147
	15,500		Infocom Corp		259
	303,860		Infomart Corp		3,715
	44,522	*	Information Services Group, Inc		166
	7,900		Information Services International-Dentsu Ltd		273
	4,562,752		Infosys Technologies Ltd		48,967
	282,000		Inspur International Ltd		155
	38,617	*	Instructure, Inc		1,820
	55,465	e	Integrated Research Ltd		103
	38,516	*,e	Internap Corp		191
	1,771,980		International Business Machines Corp		250,026
	61,882	*	InterXion Holding NV		4,129

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	836,240		Intuit, Inc	$	218,601
	95,435		iomart Group plc		434
	177,948		Iress Market Technology Ltd		1,653
	235,130		IT Holdings Corp		11,157
	78,500		Itochu Techno-Science Corp		1,837
	59,027		j2 Global, Inc		5,112
	87,292		Jack Henry & Associates, Inc		12,111
	20,300		Justsystems Corp		518
	175,084		Kainos Group plc		1,259
	6,700		Kanematsu Electronics Ltd		203
	35,704		Keywords Studios plc		539
	8,158		Kginicis Co Ltd		95
	276,144	*	Kinaxis, Inc		16,112
	2,117,000	e	Kingdee International Software Group Co Ltd		2,458
	818,061		Kingsoft Corp Ltd		2,086
	6,872	*	Korea Information & Communications Co Ltd		55
	441,926		KPIT Cummins Infosystems Ltd		630
	9,200	e	LAC Co Ltd		127
	4,240,195		Learning Technologies Group plc		3,900
	271,107		Leidos Holdings, Inc		17,375
	52,500	*	Lightspeed POS, Inc		810
	516,507	*	Limelight Networks, Inc		1,668
	297,107		Link Administration Holdings Ltd		1,560
	66,467		Linx S.A.		628
	71,825	*	Liveperson, Inc		2,084
	283,032	*	LiveRamp Holdings, Inc		15,445
	176,380		LogMeIn, Inc		14,128
	60,000	*	Logo Yazilim Sanayi Ve Ticaret AS.		423
	11,006	*	Majesco		78
	164,815	*	Manhattan Associates, Inc		9,083
	31,908		Mantech International Corp (Class A)		1,724
	3,500,356		MasterCard, Inc (Class A)		824,159
	49,549		Matrix IT Ltd		625
	186,008		MAXIMUS, Inc		13,203
	431,934	*	Micro Focus International plc		11,230
	19,002,577	n	Microsoft Corp		2,241,164
	41,464	*	MicroStrategy, Inc (Class A)		5,981
	134,217		MindTree Ltd		1,830
	10,200		Miroku Jyoho Service Co Ltd		262
	47,369	*	Mitek Systems, Inc		580
	3,800		Mitsubishi Research Institute, Inc		115
	324,522	*	MobileIron, Inc		1,775
	257,293	*	Model N, Inc		4,513
	7,400	*,e	Money Forward, Inc		310
	39,222	*	MoneyGram International, Inc		80
	233,034		Monotype Imaging Holdings, Inc		4,635
	140,000		Mphasis Ltd		2,005
	1,149,900		My EG Services BHD		399
	260,149		MYOB Ltd		616
	852,000	*,†,e	National Agricultural Holdings Ltd		1
	155,804		NCC Group plc		284
	12,700		NEC Networks & System Integration Corp		307
	13,525		Nemetschek AG.		2,311

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	119,800		NET One Systems Co Ltd	$	3,030
	33,228	*,e,g	Netcompany Group A.S.		1,190
	151,796	*	New Relic, Inc		14,982
	208,187	*,e	NEXTDC Ltd		935
	482,517		NIC, Inc		8,246
	68,552	*	Nice Systems Ltd		8,373
	78,200		Nihon Unisys Ltd		2,076
	128,449		NIIT Technologies Ltd		2,458
	24,000		Nippon System Development Co Ltd		559
	88,666		Nomura Research Institute Ltd		4,039
	22,500		NS Solutions Corp		608
	296,635		NTT Data Corp		3,280
	264,847	*	Nuance Communications, Inc		4,484
	810,160	*	Nutanix, Inc		30,575
	14,000	e	OBIC Business Consultants Ltd		576
	31,070		Obic Co Ltd		3,142
	195,687	*	Okta, Inc		16,189
	7,500	*	OneMarket Ltd		3
	37,335	*	OneSpan, Inc		718
	376,394		Open Text Corp		14,452
	3,761,180		Oracle Corp		202,013
	92,744		Oracle Corp Japan		6,237
	193,690	*	Otsuka Corp		7,246
	287,646	*,e	Pagseguro Digital Ltd		8,586
	129,139	*	Palo Alto Networks, Inc		31,365
	17,210	*,e	Park City Group, Inc		138
	771,425		Paychex, Inc		61,868
	90,907	*	Paycom Software, Inc		17,193
	148,496	*	Paylocity Holding Corp		13,244
	4,356,822	*	PayPal Holdings, Inc		452,412
	138,700	e	PCA Corp		3,683
	155,075		Pegasystems, Inc		10,080
	40,198	*	Perficient, Inc		1,101
	46,335		Persistent Systems Ltd		421
	653,339		Perspecta, Inc		13,211
	15,438	*	PFSweb, Inc		80
	4,400	*,e	PKSHA Technology, Inc		245
	88,877	*	Pluralsight, Inc		2,821
	29,067		POSDATA Co Ltd		151
	77,962		Presidio, Inc		1,154
	29,711	*	PRGX Global, Inc		235
	185,879		Progress Software Corp		8,247
	1,058,853	*	Proofpoint, Inc		128,577
	38,272	*	PROS Holdings, Inc		1,617
	300,885	*	PTC, Inc		27,736
	72,512	*	Pushpay Holdings Ltd		159
	47,023	*	Q2 Holdings, Inc		3,257
	43,001		QAD, Inc (Class A)		1,852
	43,094	*	Qualys, Inc		3,566
	8,400	e	Rakus Co Ltd		154
	162,592	*	Rapid7, Inc		8,229
	143,111	*	RealPage, Inc		8,685
	288,404	*	Red Hat, Inc		52,691
	15,600	e	Remixpoint, Inc		43

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,548		Reply S.p.A	$	3,322
	27,464		RIB Software AG.		454
	14,995	*	Rimini Street, Inc		75
	259,320	*	RingCentral, Inc		27,955
	21,360	*	RP-SG Business Process Services Ltd		192
	1,099,336		Sabre Corp		23,515
	30,977		SafeCharge International Group Ltd		121
	969,090		Sage Group plc		8,857
	160,505	*	SailPoint Technologies Holding, Inc		4,610
	14,607		Saipens International Corp NV		224
	4,512,783	*	salesforce.com, Inc		714,689
	57,143		Samsung SDS Co Ltd		11,856
	953,755		SAP AG.		110,258
	63,043		Science Applications International Corp		4,851
	12,181	*,e	SecureWorks Corp		224
	1,562,528	*	ServiceNow, Inc		385,148
	109,874	*	ServiceSource International LLC		101
	50,440		Shanghai 2345 Network Holding Group Co Ltd		45
	146,924	*	SHIFT, Inc		5,907
	115,916	*	Shopify, Inc (Class A) (Toronto)		23,928
	9,346	*,e	ShotSpotter, Inc		361
	3,953,360		Silverlake Axis Ltd		1,576
	23,681		SimCorp AS		2,288
	305,600		Sinosoft Technology Group Ltd		104
	5,600		Softbank Technology Corp		121
	501,130		Softcat plc		5,425
	27,039		Software AG.		915
	43,447	*,e	SolarWinds Corp		848
	130,372	*,e	Solutions 30 SE		1,595
	17,191		Sonata Software Ltd		84
	267,261		Sonda S.A.		403
	204,656	g	Sophos Group plc		803
	9,357		Sopra Group S.A.		1,087
	54,500	e	Sourcenext Corp		223
	156,135	*	Splunk, Inc		19,454
	55,553	*	SPS Commerce, Inc		5,892
	563,455	*	Square, Inc		42,214
	396,515		SS&C Technologies Holdings, Inc		25,254
	65,042		Sumisho Computer Systems Corp		2,904
	420,000		SUNeVision Holdings Ltd		358
	22,594	*,e	SVMK, Inc		411
	92,047	e	Switch, Inc		949
	45,319	*	Sykes Enterprises, Inc		1,282
	804,396		Symantec Corp		18,493
	1,318,574	*	Synopsys, Inc		151,834
	71,300		Systena Corp		777
	199,000		Systex Corp		439
	82,356	*	Tableau Software, Inc		10,482
	922,120		Tata Consultancy Services Ltd		26,651
	51,993		Tata Elxsi Ltd		723
	773,253	*	Tech Mahindra Ltd		8,668
	992,001		Technology One Ltd		5,645
	152,559	*	Telaria, Inc		967

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,031	*	TeleNav, Inc	$	273
	110,920		Temenos Group AG.		16,365
	97,774	*,e	Tenable Holdings, Inc		3,096
	3,304,518	*,n	Teradata Corp		144,242
	39,399		Tietoenator Oyj		1,204
	388,927		TiVo Corp		3,625
	10,300		TKC		377
	792,668		Total System Services, Inc		75,311
	66,200		Totvus S.A.		666
	69,214	*	Trade Desk, Inc		13,701
	14,200	*	Trans Cosmos, Inc/Japan		277
	775,661		Travelport Worldwide Ltd		12,201
	955,000		Travelsky Technology Ltd		2,529
	63,184		Trend Micro, Inc		3,082
	20,221		TTEC Holdings, Inc		733
	11,862	*,e	Tucows, Inc		963
	230,938	*	Twilio, Inc		29,833
	75,382	*	Tyler Technologies, Inc		15,408
	62,176	*	Ultimate Software Group, Inc		20,526
	497,082	*,e	Unisys Corp		5,801
	102,700	e	UNITED, Inc		1,412
	19,020	*	Upland Software, Inc		806
	224,011		Vakrangee Ltd		163
	99,311	*	Varonis Systems, Inc		5,922
	159,865	*	Verint Systems, Inc		9,570
	118,466	*	VeriSign, Inc		21,509
	10,661	*,e	Veritone, Inc		55
	84,411	*,e	VirnetX Holding Corp		534
	34,205	*	Virtusa Corp		1,828
	5,510,464		Visa, Inc (Class A)		860,679
	83,541		VMware, Inc (Class A)		15,080
	908,374		Western Union Co		16,778
	77,681	*	WEX, Inc		14,914
	1,895,325		Wipro Ltd		6,975
	73,037		Wirecard AG.		9,175
	317,783		Wisetech Global Ltd		5,246
	76,128	*	Wix.com Ltd		9,199
	164,793	*	Workday, Inc		31,780
	188,110	*	Workiva, Inc		9,537
	38,707	*,g	Worldline S.A.		2,294
	679,540	*	Worldpay, Inc		77,128
	132	*	Xero Ltd		5
	14,700	*,e	Xunlei Ltd (ADR)		54
	376,207	*	Yext, Inc		8,224
	56,600		Yonyou Network Technology Co Ltd		285
	337,871	*	Zendesk, Inc		28,719
	35,690		Zensar Technologies Ltd		119
	177,784	*	Zix Corp		1,223
	403,667	*	Zscaler, Inc		28,632
			TOTAL SOFTWARE & SERVICES		10,715,739
TECHNOLOGY HARDWARE & EQUIPMENT - 4.9%
	190,378	*,e	3D Systems Corp		2,048
	668,422		AAC Technologies Holdings, Inc		3,965

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	175,413	*,e	accesso Technology Group plc	$	1,979
	1,714,292		Accton Technology Corp		6,949
	2,130,762		Acer, Inc		1,370
	108,739		Adtran, Inc		1,490
	99,846	*	ADVA AG. Optical Networking		1,002
	22,000		Advanced Ceramic X Corp		175
	695,932		Advantech Co Ltd		5,791
	369,790	*	Aerohive Networks, Inc		1,675
	32,602	*	Agilysys, Inc		690
	21,200		Ai Holdings Corp		351
	626,395		Alps Electric Co Ltd		13,097
	15,895		ALSO Holding AG.		2,056
	31,500		Amano Corp		744
	465,299		Amphenol Corp (Class A)		43,943
	36,034	*	Anixter International, Inc		2,022
	114,300	e	Anritsu Corp		2,126
	2,796,000	*,†,e	Anxin-China Holdings Ltd		4
	12,616,301	d,n	Apple, Inc		2,396,466
	24,900	*,e	Applied Optoelectronics, Inc		304
	564,000		Arcadyan Technology Corp		1,711
	277,506	*	Arista Networks, Inc		87,265
	126,215	*	Arlo Technologies, Inc		521
	279,251	*	ARRIS International plc		8,827
	134,357	*	Arrow Electronics, Inc		10,354
	119,000		Asia Optical Co, Inc		381
	559,044		Asustek Computer, Inc		4,051
	45,000		Aten International Co Ltd		139
	8,535,893		AU Optronics Corp		3,147
	141,800		Aurora Corp		425
	95,757		Austria Technologie & Systemtechnik AG.		1,647
	37,327	*	Avid Technology, Inc		278
	275,809		Avnet, Inc		11,962
	380,585		AVX Corp		6,599
	34,099		Badger Meter, Inc		1,897
	22,009		Barco NV		3,374
	708		Basler AG.		119
	13,360		Bel Fuse, Inc (Class B)		338
	49,603		Belden CDT, Inc		2,664
	127,339		Benchmark Electronics, Inc		3,343
	7,666,000		Benq Corp		4,922
	13,117	*	BH Co Ltd		224
	77,300		BOE Technology Group Co Ltd		45
	569,859		Brother Industries Ltd		10,584
	662,500	e	BYD Electronic International Co Ltd		857
	46,171	*	CalAmp Corp		581
	214,755	*	Calix, Inc		1,654
	284,000	e	Camsing International Holding Ltd		288
	11,400	*	Canon Electronics, Inc		181
	720,700		Canon, Inc		20,926
	197,000		Career Technology Co Ltd		204
	18,670	*,e,g	Carel Industries S.p.A		205
	35,563	*	Casa Systems, Inc		295
	87,943		Casetek Holdings Ltd		145

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	898,857		Catcher Technology Co Ltd	$	6,944
	174,000		Catic Shenzhen Holdings Ltd		109
	713,768		CDW Corp		68,786
	157,862	*	Celestica, Inc		1,334
	159,602		Cheng Uei Precision Industry Co Ltd		203
	416,949		Chicony Electronics Co Ltd		971
	83,179		Chilisin Electronics Corp		243
	489,600	*,†	China Fiber Optic Network System Group Ltd		0	^
	4,088,000	*,e	China Innovationpay Group Ltd		350
	1,450,000	g	China Railway Signal & Communication Corp Ltd		1,148
	222,000		Chin-Poon Industrial Co		275
	196,840		Chroma ATE, Inc		939
	10,000		Chunghwa Precision Test Tech Co Ltd		137
	847,169	*,n	Ciena Corp		31,633
	15,878,949		Cisco Systems, Inc		857,304
	417,400		Citizen Watch Co Ltd		2,332
	11,760	*,e	Clearfield, Inc		173
	312,393		Clevo Co		297
	833,394	*	CMC Magnetics Corp		191
	23,400		CMK Corp		137
	562,739		Cognex Corp		28,621
	47,336	*	Coherent, Inc		6,708
	765,089	*,e	Comba Telecom Systems Holdings Ltd		179
	4,014	e	Comet Holding AG.		343
	314,343	*	CommScope Holding Co, Inc		6,831
	2,416,688		Compal Electronics, Inc		1,504
	3,520,000		Compeq Manufacturing Co		2,715
	89,639		Comtech Telecommunications Corp		2,081
	20,575		Concraft Holding Co Ltd		100
	136,309	*	Control4 Corp		2,308
	2,615,399	*,†	Coolpad Group Ltd		180
	255,600		Coretronic Corp		403
	2,398,276		Corning, Inc		79,383
	160,615	*	Cray, Inc		4,184
	38,496		CTS Corp		1,131
	29,913		Daea TI Co Ltd		176
	366,996		Daeduck Electronics Co		3,091
	137,900		Daiwabo Co Ltd		7,962
	44,273		Daktronics, Inc		330
	1,688,000		Darfon Electronics Corp		2,804
	9,011	*	DASAN Zhone Solutions, Inc		96
	14,513		Datalogic S.p.A.		339
	299,240		DataTec Ltd		689
	525,561	*	Dell Technologies, Inc		30,845
	370,500		Delta Electronics Thai PCL		829
	6,260,988		Delta Electronics, Inc		32,349
	3,500		Denki Kogyo Co Ltd		105
	30,100		Dexerials Corp		200
	93,017	e	Diebold, Inc		1,030
	56,097	*	Digi International, Inc		711
	238,364		Dolby Laboratories, Inc (Class A)		15,010
	194,300		Eastern Communications Co Ltd		129
	22,019	*,e	Eastman Kodak Co		65
	259,255	*	EchoStar Corp (Class A)		9,450

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,171		Eizo Nanao Corp	$	365
	45,900		Elecom Co Ltd		1,418
	3,208,056		Electrocomponents plc		23,494
	51,779	*	Electronics for Imaging, Inc		1,393
	3,800		Elematec Corp		58
	655,654		Elite Material Co Ltd		2,272
	28,807		Ennoconn Corp		250
	5,900		Enplas Corp		152
	20,356	*	ePlus, Inc		1,802
	5,515,015	e	Ericsson (LM) (B Shares)		50,804
	9,200		ESPEC Corp		172
	35,492		Evertz Technologies Ltd		455
	139,590	*	Extreme Networks, Inc		1,046
	168,981	*	F5 Networks, Inc		26,518
	62,999	*	Fabrinet		3,299
	20,486	*	FARO Technologies, Inc		900
	1,923,000	*,e	FIH Mobile Ltd		214
	193,036	*	Finisar Corp		4,473
	115,352		Firich Enterprises Co Ltd		158
	327,661	*,e	Fitbit, Inc		1,940
	750,339		FLEXium Interconnect, Inc		2,266
	387,315		Flir Systems, Inc		18,428
	59,310		Flytech Technology Co Ltd		150
	38,440		Focus Media Information Technology Co Ltd		36
	639,868		Foxconn Technology Co Ltd		1,279
	508,511		Fujifilm Holdings Corp		23,162
	43,765	*	Gemalto NV		2,503
	125,000		General Interface Solution Holding Ltd		469
	34,000		Genius Electronic Optical Co Ltd		400
	1,792,000		Getac Technology Corp		2,995
	2,137,000		Gigabyte Technology Co Ltd		3,414
	11,827		Gilat Satellite Networks Ltd		97
	10,857	*	G-treeBNT Co Ltd		272
	333,431		Halma plc		7,269
	35,200		Hamamatsu Photonics KK		1,365
	151,900		Hangzhou Hikvision Digital Technology Co Ltd		791
	4,724,330		HannStar Display Corp		1,047
	402,928	*	Harmonic, Inc		2,184
	6,700		Hengtong Optic-electric Co Ltd		21
	1,773,151		Hewlett Packard Enterprise Co		27,360
	83,187		Hexagon AB (B Shares)		4,348
	364,000	*	High Tech Computer Corp		473
	5,300		Hioki EE Corp		228
	26,379		Hirose Electric Co Ltd		2,778
	830,079		Hitachi High-Technologies Corp		34,107
	3,651,603		Hitachi Ltd		118,643
	4,100		Hochiki Corp		41
	70,470		Holystone Enterprise Co Ltd		267
	9,798,961		Hon Hai Precision Industry Co, Ltd		23,419
	25,195		Horiba Ltd		1,405
	487,300		Hosiden Corp		4,100
	1,754,632		HP, Inc		34,092
	63,900		Ibiden Co Ltd		974

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	29,500		Icom, Inc	$	587
	112,928		IEI Integration Corp		124
	76,822	*	II-VI, Inc		2,861
	13,734		Iljin Materials Co Ltd		450
	33,725	*	Immersion Corp		284
	1,297,770		Inari Amertron BHD		501
	4,573	e	Inficon Holding AG.		2,549
	178,192	*,e	Infinera Corp		773
	9,644		Ingenico		689
	28,546,219		InnoLux Display Corp		9,280
	291,774	*	Insight Enterprises, Inc		16,065
	308,500		Integrated Micro-Electronics, Inc		73
	136,505		InterDigital, Inc		9,007
	1,671,535		Inventec Co Ltd		1,273
	70,023	*	IPG Photonics Corp		10,628
	10,800	e	Iriso Electronics Co Ltd		496
	11,237		Isra Vision AG.		420
	7,400		ITC Networks Corp		93
	1,415,357		ITEQ Corp		4,089
	33,068	*	Iteris, Inc		138
	40,461	*	Itron, Inc		1,887
	42,851		Ituran Location and Control Ltd		1,463
	449,101		Jabil Circuit, Inc		11,942
	384,100		Japan Aviation Electronics Industry Ltd		5,367
	8,900		Japan Cash Machine Co Ltd		95
	376,200	*,e	Japan Display, Inc		236
	138,177		Jenoptik AG.		5,159
	545,281		Juniper Networks, Inc		14,434
	68,700		Kaga Electronics Co Ltd		1,264
	2,862		Kapsch TrafficCom AG.		97
	312,400		KCE Electronics PCL		240
	90,407		Kemet Corp		1,534
	54,834		Keyence Corp		34,282
	854,761	*	Keysight Technologies, Inc		74,535
	36,062	*	Kimball Electronics, Inc		559
	1,817,500		Kingboard Chemical Holdings Ltd		6,455
	1,061,500		Kingboard Laminates Holdings Ltd		1,119
	101,157	*	Knowles Corp		1,783
	10,800		Koa Corp		146
	1,033,806		Konica Minolta Holdings, Inc		10,193
	17,721	e	Kudelski S.A.		106
	23,009	*	KVH Industries, Inc		234
	292,999		Kyocera Corp		17,253
	16,288	e	Landis&Gyr Group AG.		1,032
	243,066		Largan Precision Co Ltd		36,456
	396,300	g	Legend Holdings Corp		1,054
	256		LEM Holding S.A.		329
	17,462,753		Lenovo Group Ltd		15,756
	10,567		LG Innotek Co Ltd		1,099
	548,225		LG.Philips LCD Co Ltd		9,447
	1,377,825		Lite-On Technology Corp		2,008
	52,237		Littelfuse, Inc		9,532
	367,399		Logitech International S.A.		14,429
	34,995		Lotes Co Ltd		283

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	616,921	*	Lumentum Holdings, Inc	$	34,881
	26,200		Macnica Fuji Electronics Holdings, Inc		359
	4,900		Maruwa Co Ltd		232
	27,600		Maxell Holdings Ltd		392
	45,843	*,e	Maxwell Technologies, Inc		205
	169,000		Mcj Co Ltd		1,239
	42,700	*,e	Meiko Electronics Co		673
	1,523,000	*,e,g	Meitu, Inc		718
	4,900	*	Melco Holdings, Inc		169
	114,076		Merry Electronics Co Ltd		628
	5,830		Mesa Laboratories, Inc		1,344
	40,235		Methode Electronics, Inc		1,158
	276,274	e	Micronic Laser Systems AB		3,943
	533,000		Micro-Star International Co Ltd		1,502
	656,155		Mitac Holdings Corp		673
	750,162		Motorola, Inc		105,338
	20,035		MTS Systems Corp		1,091
	1,325,225		Murata Manufacturing Co Ltd		66,321
	324,000		Nan Ya Printed Circuit Board Corp		492
	20,182	*	Napco Security Technologies, Inc		419
	543,313		National Instruments Corp		24,101
	281,635	*	NCR Corp		7,686
	109,074		NEC Corp		3,697
	149,211		Neopost S.A.		3,573
	249,843		NetApp, Inc		17,324
	52,463	*	Netgear, Inc		1,738
	191,130	*	Netscout Systems, Inc		5,365
	26,726		Nichicon Corp		245
	4,600		Ninestar Corp		22
	12,800		Nippon Ceramic Co Ltd		344
	6,700		Nippon Chemi-Con Corp		116
	70,413		Nippon Electric Glass Co Ltd		1,871
	26,800		Nippon Signal Co Ltd		240
	27,660	e	Nissha Printing Co Ltd		293
	28,442	*	nLight, Inc		634
	12,200		Nohmi Bosai Ltd		200
	5,535,920	e	Nokia Corp		31,665
	5,258,165		Nokia Oyj (Turquoise)		29,954
	12,100	e	Noritsu Koki Co Ltd		270
	128,270	*	Novanta, Inc		10,868
	10,800		O-film Tech Co Ltd		23
	10,500	e	Ohara, Inc		121
	69,400		Oki Electric Industry Co Ltd		822
	229,098	e	Omron Corp		10,763
	18,100	e	Optex Co Ltd		289
	18,400		Osaki Electric Co Ltd		115
	73,013	*	OSI Systems, Inc		6,396
	8,370		Oxford Instruments plc		106
	205,224		Pan-International Industrial		157
	14,305	*	PAR Technology Corp		350
	75,807		Park Electrochemical Corp		1,190
	22,599		Partron Co Ltd		265
	2,036,000	e	PAX Global Technology Ltd		945

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,167		PC Connection, Inc	$	556
	1,503,917		Pegatron Technology Corp		2,608
	38,951		Plantronics, Inc		1,796
	37,992	*	Plexus Corp		2,316
	1,443,000		Primax Electronics Ltd		2,850
	450,000		Prime View International Co Ltd		504
	1,314,349	*	Pure Storage, Inc		28,640
	2,134,338		Quanta Computer, Inc		4,009
	480,050	*	Quantenna Communications, Inc		11,680
	26,573	*	Radware Ltd		694
	311,615		Redington India Ltd		461
	136,573		Renishaw plc		6,602
	161,128	*	Ribbon Communications, Inc		830
	216,003		Ricoh Co Ltd		2,262
	9,879	*,†	Ricoh India Ltd		0	^
	35,400		Riken Keiki Co Ltd		683
	12,000		Riso Kagaku Corp		190
	674,202	*	Ritek Corp		249
	23,283	*	Rogers Corp		3,699
	5,800		Roland DG Corp		122
	10,900	e	Ryosan Co Ltd		293
	9,900		Ryoyo Electro Corp		145
	30,576		S&T AG.		767
	44,272	e	Samsung Electro-Mechanics Co Ltd		4,095
	164,660		Samsung SDI Co Ltd		31,204
	4,051		Samwha Capacitor Co Ltd		199
	339,216	*	Sanmina Corp		9,786
	40,900	e	Sanshin Electronics Co Ltd		701
	113,200	*	Scansource, Inc		4,055
	1,031		Seagate Technology, Inc		49
	206,572	e	Seiko Epson Corp		3,169
	5,672	*,e,g	Sensirion Holding AG.		232
	1,104,000		Sercomm Corp		2,424
	17,548		Sesa S.p.A		559
	175,856		SFA Engineering Corp		6,721
	97,491		Shimadzu Corp		2,830
	47,199	*,e	Sierra Wireless, Inc		583
	17,200	e	Siix Corp		261
	828,600		Simplo Technology Co Ltd		7,326
	131,123		Sinbon Electronics Co Ltd		441
	2,791		Sindoh Co Ltd		115
	57,523		Smart Metering Systems plc		409
	313,857		Spectris plc		10,271
	61,986		Sterlite Technologies Ltd		195
	68,630	*	Stratasys Ltd		1,635
	1,366,600		Sunny Optical Technology Group Co Ltd		16,383
	2,853,000		Supreme Electronics Co Ltd		2,914
	42,917	*	Synaptics, Inc		1,706
	46,250		Syncmold Enterprise Corp		125
	194,526		SYNNEX Corp		18,556
	885,238		Synnex Technology International Corp		1,065
	25,574	*	Taihan Fiberoptics Co Ltd		90
	140,000		Taiwan Union Technology Corp		505
	83,503	e	Taiyo Yuden Co Ltd		1,653

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	437,500		Tamura Corp	$	2,425
	130,187		TDK Corp		10,246
	1,110,956		TE Connectivity Ltd		89,710
	94,620	*	Tech Data Corp		9,690
	22,033	*,g	Tejas Networks Ltd		54
	32,129	*	TELCON, Inc		209
	1,919,825	e	Telefonaktiebolaget Lm Ericsson (ADR)		17,624
	80,495		Test Research, Inc		146
	40,000		Thinking Electronic Industrial Co Ltd		110
	45,129	*,e	Tobii AB		158
	88,625		Tong Hsing Electronic Industries Ltd		298
	2,170,000	e	Tongda Group Holdings Ltd		241
	60,200		Topcon Corp		713
	14,800		Toshiba TEC Corp		412
	206,000		TPK Holding Co Ltd		390
	95,000		Transcend Information, Inc		216
	380,176	*	Trimble Navigation Ltd		15,359
	1,379,832		Tripod Technology Corp		4,461
	946,000	*,e	Truly International Holdings		156
	110,777	*	TTM Technologies, Inc		1,299
	158,039		TXC Corp		165
	85,760	e	Ubiquiti Networks, Inc		12,839
	7,837,883		Unimicron Technology Corp		7,550
	11,500		Unisplendour Corp Ltd		74
	273,500		Unitech Printed Circuit Board Corp		185
	84,410	*,e	USA Technologies, Inc		350
	6,100	e	V Technology Co Ltd		776
	475,200		Venture Corp Ltd		6,314
	97,583	*,e	Viasat, Inc		7,563
	355,846	*	Viavi Solutions, Inc		4,405
	353,642		Vishay Intertechnology, Inc		6,532
	145,330	*	Vishay Precision Group, Inc		4,972
	708,775		VS Industry BHD		186
	3,502,800		VST Holdings Ltd		2,032
	99,500		Vtech Holdings Ltd		1,019
	82,600		Wacom Co Ltd		349
	637,000		Wah Lee Industrial Corp		1,101
	1,433,000		Walsin Technology Corp		9,343
	734,000		Wasion Group Holdings Ltd		384
	519,963		Western Digital Corp		24,989
	190,500	*,†,b	Wintek Corp		0	^
	1,784,302		Wistron Corp		1,376
	1,891,556		Wistron NeWeb Corp		4,978
	4,144,000	e	World Wide Touch Technology Ho		172
	984,473		WPG Holdings Co Ltd		1,286
	2,718,744		WT Microelectronics Co Ltd		3,590
	360,458		Xerox Corp		11,527
	2,817,400	*,e,g	Xiaomi Corp		4,096
	15,750	*,†	Ya Hsin Industrial Co Ltd		0
	191,660		Yageo Corp		2,019
	73,186		Yamatake Corp		1,716
	82,138		Yaskawa Electric Corp		2,593
	83,584		Yokogawa Electric Corp		1,736

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	190,333	*	Zebra Technologies Corp (Class A)	$	39,880
	9,100		Zhejiang Dahua Technology Co Ltd		22
	2,798,405		Zhen Ding Technology Holding Ltd		8,705
	11,500	*	ZTE Corp		50
	570,538	*,e	ZTE Corp (Class H)		1,722
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,594,792
TELECOMMUNICATION SERVICES - 1.9%
	882,989		Advanced Info Service PCL (Foreign)		5,128
	459,000		AFK Sistema (GDR)		1,294
	35,905,084		America Movil S.A. de C.V. (Series L)		25,675
	222,250	e	APT Satellite Holdings Ltd		100
	1,190,000	*	Asia Pacific Telecom Co Ltd		282
	15,048,629		AT&T, Inc		471,925
	13,797		ATN International, Inc		778
	661,100	*,e	Axtel SAB de C.V.		78
	201,886		BCE, Inc		8,965
	327,754		Bezeq Israeli Telecommunication Corp Ltd		236
	1,674,620		Bharti Airtel Ltd		8,048
	589,810		Bharti Infratel Ltd		2,668
	148,863	*	Boingo Wireless, Inc		3,466
	5,733,628		BT Group plc		16,658
	39,633	*	Cellcom Israel Ltd		144
	473,239	e,g	Cellnex Telecom SAU		13,893
	1,772,895		CenturyLink, Inc		21,257
	1,985,371		China Communications Services Corp Ltd		1,774
	8,506,749		China Mobile Hong Kong Ltd		86,806
	22,254,457		China Telecom Corp Ltd		12,383
	35,216,000	*,g	China Tower Corp Ltd		8,180
	17,061,681		China Unicom Ltd		21,723
	162,400		China United Network Communications Ltd		164
	234,781	e	Chorus Ltd		944
	2,881,988		Chunghwa Telecom Co Ltd		10,248
	125,955	*	Cincinnati Bell, Inc		1,202
	8,102,000		Citic 1616 Holdings Ltd		3,645
	77,104		Cogent Communications Group, Inc		4,183
	125,600	e	Consolidated Communications Holdings, Inc		1,370
	4,049,274		Deutsche Telekom AG.		67,271
	8,571,539		Digi.Com BHD		9,566
	64,481	e	DNA Oyj		1,337
	41,794		Drillisch AG.		1,489
	233,145		Elisa Oyj (Series A)		10,519
	1,416,031		Emirates Telecommunications Group Co PJSC		6,449
	133,776		Empresa Nacional de Telecomunicaciones S.A.		1,393
	70,588	g	Euskaltel S.A.		658
	1,212,236		Far EasTone Telecommunications Co Ltd		2,924
	72,439		Freenet AG.		1,558
	312,259	*,e	Frontier Communications Corp		621
	35,611		Globe Telecom, Inc		1,314
	74,319	*,e	Gogo, Inc		334
	202,460		Hellenic Telecommunications Organization S.A.		2,711
	1,616,768		Himachal Futuristic Communications		526
	2,617,500		HKBN Ltd		4,171
	5,274,535		HKT Trust and HKT Ltd		8,480

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	808,651		Hutchison Telecommunications Hong Kong Holdings Ltd	$	344
	2,128,321	*	Idea Cellular Ltd		560
	80,143		Iliad S.A.		8,053
	161,270	g	Infrastrutture Wireless Italiane S.p.A		1,444
	360,119		Inmarsat plc		2,606
	43,100	*	Inscobee, Inc		178
	112,276	*,e	Intelsat S.A.		1,758
	14,800		Internet Initiative Japan, Inc		300
	166,299	*	Iridium Communications, Inc		4,397
	10,343,000		Jasmine International PCL		1,764
	301,211		Kcom Group plc		276
	1,568,298		KDDI Corp		33,777
	1,194,533	e	Koninklijke KPN NV		3,792
	29,009		KT Corp		700
	222,725	*,†,e	Let’s GOWEX S.A.		3
	159,827		LG Telecom Ltd		2,177
	1,485,147		Magyar Telekom		2,399
	435,047	*,e	Masmovil Ibercom S.A.		9,200
	1,911,790		Maxis BHD		2,513
	4,932		Millicom International Cellular S.A.		300
	884,418		Mobile TeleSystems (ADR)		6,686
	101,454		Mobistar S.A.		2,185
	1,370,047	e	MTN Group Ltd		8,433
	6,954,300		NetLink NBN Trust		4,259
	117,527	*	NII Holdings, Inc		230
	1,058,836		Nippon Telegraph & Telephone Corp		45,139
	2,110,230		NTT DoCoMo, Inc		46,770
	44,343	*	Ooma, Inc		587
	77,984	*	Ooredoo QSC		1,422
	1,926,947		Orange S. A.		31,415
	1,168,944	*	Orascom Telecom Holding SAE		308
	96,914	*	Orbcomm, Inc		657
	363,488	*	Partner Communications		1,393
	3,844,741		PCCW Ltd		2,390
	30,911	*	pdvWireless, Inc		1,087
	184,298	g	PLAY Communications S.A.		1,133
	62,632		PLDT, Inc		1,373
	9,605		Proximus plc		278
	1,980,800		PT Link Net Tbk		625
	57,197,024		PT Telekomunikasi Indonesia Persero Tbk		15,810
	374,569	*	Reliance Communication Ventures Ltd		22
	624,354	e	Rogers Communications, Inc (Class B)		33,578
	35,473,473		Safaricom plc		9,695
	152,068	*	Sejong Telecom, Inc		63
	153,350		Shenandoah Telecom Co		6,803
	9,187,478		Singapore Telecommunications Ltd		20,506
	23,629		SK Telecom Co Ltd		5,233
	1,982,877		SmarTone Telecommunications Holding Ltd		2,156
	1,273,000	*,e	Softbank Corp		14,342
	1,364,466		Softbank Group Corp		133,004
	128,684	e	SpeedCast International Ltd		343
	21,985		Spok Holdings, Inc		299

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,372,633	*	Sprint Corp	$	7,755
	479,200		StarHub Ltd		528
	120,808	e,g	Sunrise Communications Group AG.		8,897
	23,074	e	Swisscom AG.		11,289
	1,241,942		Taiwan Mobile Co Ltd		4,493
	383,101	e	TalkTalk Telecom Group plc		550
	38,454		Tata Communications Ltd		340
	203,875	e	Tele2 AB (B Shares)		2,720
	1,903,814		Telecom Corp of New Zealand Ltd		4,932
	1,563,954		Telecom Egypt		1,312
	389,423		Telecom Italia RSP		221
	719,938	*	Telecom Italia S.p.A.		448
	909,099		Telefonica Brasil S.A.		11,029
	50,488		Telefonica Deutschland Holding AG.		159
	5,570,547		Telefonica S.A.		46,664
	103,607		Telekom Austria AG.		754
	796,783		Telekom Malaysia BHD		626
	462,469	*	Telekomunikacja Polska S.A.		618
	1,088,793		Telenor ASA		21,802
	877,049		Telephone & Data Systems, Inc		26,952
	751,101	*,e	Telesites SAB de C.V.		487
	4,464,008	e	TeliaSonera AB		20,122
	202,486		Telkom S.A. Ltd		1,028
	6,042,347		Telstra Corp Ltd		14,248
	228,974		TELUS Corp		8,475
	341,900		Thaicom PCL		77
	1,312,184		Tim Participacoes S.A.		3,951
	183,720		Time dotCom BHD		392
	2,488,946		TM International BHD		2,535
	723,457	*	T-Mobile US, Inc		49,991
	1,381,783		Tower Bersama Infrastructure		383
	338,138		TPG Telecom Ltd		1,670
	5,787,592		True Corp PCL (Foreign)		869
	2,011,262		Turkcell Iletisim Hizmet AS		4,366
	7,765		United Internet AG.		284
	25,923	*	US Cellular Corp		1,190
	9,302,182		Verizon Communications, Inc		550,038
	4,600	*	Vision, Inc		214
	332,793	*	Vocus Communications Ltd		873
	896,257		Vodacom Group Pty Ltd		6,921
	37,807,673		Vodafone Group plc		68,895
	190,898		Vodafone Qatar		409
	1,116,522	*	Vonage Holdings Corp		11,210
	10,037	*,e	Windstream Holdings, Inc		3
	591,084	*	Zayo Group Holdings, Inc		16,799
			TOTAL TELECOMMUNICATION SERVICES		2,246,822
TRANSPORTATION - 2.1%
	52,528	†,e	Abertis Infraestructuras S.A. (Continuous)		1,082
	57,828		Aegean Airlines S.A.		536
	77,466	g	Aena S.A.		13,959
	7,630	e	Aeroporto Guglielmo Marconi Di Bologna S.p.A		106
	27,207		Aeroports de Paris		5,264
	1,471,284		Air Arabia PJSC		376

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,515,225		Air China Ltd (H shares)	$	1,866
	384,992	*,e	Air France-KLM		4,330
	1,781,041		Air New Zealand Ltd		3,077
	121,914	*	Air Transport Services Group, Inc		2,810
	741,000		AirAsia BHD		484
	9,634,300		Airports of Thailand PCL (Foreign)		20,483
	226,574		Alaska Air Group, Inc		12,715
	804,105	e,g	ALD S.A.		11,234
	46,937		All Nippon Airways Co Ltd		1,722
	15,692		Allegiant Travel Co		2,032
	14,948		Amerco, Inc		5,553
	1,092,976	e	American Airlines Group, Inc		34,713
	16,000		Anhui Expressway Co		11
	5,258		AP Moller - Maersk AS (Class A)		6,363
	5,977	e	AP Moller - Maersk AS (Class B)		7,578
	96,189		Arkansas Best Corp		2,962
	463,992	*	Asiana Airlines		1,437
	82,128	*	Atlas Air Worldwide Holdings, Inc		4,152
	534,889		Atlas Arteria Ltd		2,746
	1,045,611		Auckland International Airport Ltd		5,801
	201,431		Autostrada Torino-Milano S.p.A.		5,486
	525,643		Autostrade S.p.A.		13,632
	232,345		Avianca Holdings S.A.		122
	82,235	*	Avis Budget Group, Inc		2,867
	339,900		Bangkok Airways Co Ltd		126
	4,417,853		Bangkok Expressway & Metro PCL		1,407
	606,346		BBA Aviation plc		1,968
	1,344,097		Beijing Capital International Airport Co Ltd		1,277
	6,733		Blue Dart Express Ltd		349
	690,200		Bollore		3,121
	71,941	e	bpost S.A.		776
	4,746,727		BTS Group Holdings PCL		1,645
	869,077		Canadian National Railway Co		77,800
	153,185		Canadian Pacific Railway Ltd (Toronto)		31,562
	1,060,000	*	CAR, Inc		915
	135,660		Cathay Pacific Airways Ltd		237
	626,020		Cebu Air, Inc		990
	245,727		Central Japan Railway Co		57,118
	326,168		CH Robinson Worldwide, Inc		28,373
	962,335		China Airlines		308
	2,292,500	*	China COSCO Holdings Co Ltd		953
	986,000		China Eastern Airlines Corp Ltd (H Shares)		700
	3,142,525		China Merchants Holdings International Co Ltd		6,702
	1,432,000		China Shipping Development Co Ltd		822
	2,063,500		China Southern Airlines Co Ltd		1,846
	124,341	e	Chorus Aviation, Inc		668
	1,786,099		Cia de Concessoes Rodoviarias		5,356
	168,701		Cia de Distribucion Integral Logista Holdings SAU		3,975
	2,148,990		ComfortDelgro Corp Ltd		4,084
	14,569,546	*	Compania SudAmericana de Vapores S.A.		490
	181,774	*	Container Corp Of India Ltd		1,378
	334,700	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		285

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	66,968		Copa Holdings S.A. (Class A)	$	5,398
	75,763	*	Cosan Logistica S.A.		294
	1,354,000		Cosco International Holdings Ltd		490
	5,342,295		COSCO Pacific Ltd		5,777
	25,700	*	COSCO SHIPPING Holdings Co Ltd		20
	61,758		Costamare, Inc		321
	91,855	*	Covenant Transportation Group, Inc		1,743
	3,256,688		CSX Corp		243,665
	69,875		CTT-Correios de Portugal S.A.		202
	16,566	*,e	D/S Norden		225
	222,900		Daqin Railway Co Ltd		276
	505,889		Dart Group plc		5,232
	57,627	*,e	Daseke, Inc		293
	1,332,310		Delta Air Lines, Inc		68,814
	1,020,193		Deutsche Lufthansa AG.		22,425
	717,499		Deutsche Post AG.		23,350
	46,185	*,e	Dfds A.S.		1,912
	215,527		DP World Ltd		3,448
	466,461		DSV AS		38,601
	120,629	*	Eagle Bulk Shipping, Inc		561
	423,788		East Japan Railway Co		40,923
	305,911		easyJet plc		4,457
	113,559	*	Echo Global Logistics, Inc		2,814
	1,292,300		EcoRodovias Infraestrutura e Logistica S.A.		3,165
	13,700	*,e	eHi Car Services Ltd (ADR)		161
	588,320	g	Enav S.p.A		3,209
	61,414	g	Europcar Groupe S.A.		498
	418,883		Eva Airways Corp		205
	334,000		Evergreen International Storage & Transport Corp		146
	1,685,115		Evergreen Marine Corp Tawain Ltd		654
	9,778	e	Exchange Income Corp		242
	219,789		Expeditors International of Washington, Inc		16,682
	453,055		FedEx Corp		82,189
	312,871		Finnair Oyj		2,818
	821,998	*	Firstgroup plc		974
	11,673		Flughafen Zuerich AG.		2,130
	90,854		Forward Air Corp		5,881
	36,468		Fraport AG. Frankfurt Airport Services Worldwide		2,798
	24,777		Freightways Ltd		139
	68,800		Fukuyama Transporting Co Ltd		2,653
	143,174	*,e	Genco Shipping & Trading Ltd		1,068
	105,990	*	Genesee & Wyoming, Inc (Class A)		9,236
	17,127		GLOVIS Co Ltd		1,941
	142,770		Go-Ahead Group plc		3,646
	57,100	*	Gol Linhas Aereas Inteligentes S.A.		378
	1,041,260	e	Golden Ocean Group Ltd		4,980
	761,939	e	Grindrod Ltd		404
	372,092		Groupe Eurotunnel S.A.		5,642
	184,900	*,e	Grupo Aeromexico SAB de C.V.		195
	182,200		Grupo Aeroportuario del Centro Norte Sab de C.V.		1,030
	317,731		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		2,821
	299,275		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		4,836

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	286,700		Guangshen Railway Co Ltd	$	152
	205,281		Gujarat Pipavav Port Ltd		295
	42,464		Gulf Warehousing Co		484
	27,700		Hamakyorex Co Ltd		1,065
	71,244		Hamburger Hafen und Logistik AG.		1,628
	22,950		Hanjin Kal Corp		521
	3,677		Hanjin Transportation Co Ltd		118
	209,897		Hankyu Hanshin Holdings, Inc		7,879
	24,409	g	Hapag-Lloyd AG.		772
	78,995		Hawaiian Holdings, Inc		2,074
	57,160		Heartland Express, Inc		1,102
	71,141	*	Hertz Global Holdings, Inc		1,236
	27,500		Hitachi Transport System Ltd		817
	6,827		Hopewell Highway Infrastructure Ltd		4
	200,013	*	Hub Group, Inc (Class A)		8,171
	6,492,800		Hutchison Port Holdings Trust		1,529
	131,372	*	Hyundai Merchant Marine Co Ltd		422
	1,454	*	ID Logistics Group		230
	48,457		Iino Kaiun Kaisha Ltd		164
	92,561	e	Imperial Holdings Ltd		384
	264,858	g	InterGlobe Aviation Ltd		5,455
	15,984		International Consolidated Airlines Group S.A.		106
	615,527		International Container Term Services, Inc		1,532
	3,821		Irish Continental Group plc		21
	78,429		Japan Airlines Co Ltd		2,764
	89,300	e	Japan Airport Terminal Co Ltd		3,784
	37,042		JB Hunt Transport Services, Inc		3,752
	3,957		Jeju Air Co Ltd		138
	751,715	*	JetBlue Airways Corp		12,298
	1,103,834		Jiangsu Express		1,562
	4,665		Jin Air Co Ltd		95
	72,961		Kamigumi Co Ltd		1,692
	141,149		Kansas City Southern Industries, Inc		16,370
	51,640	*,e	Kawasaki Kisen Kaisha Ltd		557
	47,898		Keihin Electric Express Railway Co Ltd		814
	101,191	e	Keio Corp		6,546
	24,635		Keisei Electric Railway Co Ltd		896
	1,054,149		Kerry Logistics Network Ltd		1,909
	177,774		Kintetsu Corp		8,292
	193,800		Kintetsu World Express, Inc		2,961
	305,508	*	Kirby Corp		22,947
	622,970	e	Knight-Swift Transportation Holdings, Inc		20,359
	25,600		Konoike Transport Co Ltd		424
	7,098	*	Korea Express Co Ltd		1,036
	5,976	*	Korea Line Corp		112
	45,450		Korean Air Lines Co Ltd		1,278
	47,994		Kuehne & Nagel International AG.		6,585
	138,286	e	Kyushu Railway Co		4,549
	213,495		Lan Airlines S.A.		2,267
	56,941		Landstar System, Inc		6,229
	117,300		Lingkaran Trans Kota Holdings BHD		121
	448,311		Localiza Rent A Car		3,785

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	159,690	*	Lyft Inc (Class A)	$	12,502
	156,191		Macquarie Infrastructure Co LLC		6,438
	267,540		MacroAsia Corp		114
	859,406		Malaysia Airports Holdings BHD		1,527
	156,542		Marten Transport Ltd		2,791
	5,500		Maruwa Unyu Kikan Co Ltd		189
	4,600		Maruzen Showa Unyu Co Ltd		125
	61,734		Matson, Inc		2,228
	16,409	*	Mesa Air Group, Inc		137
	2,828,456		MISC BHD		4,643
	35,050	e	Mitsubishi Logistics Corp		980
	22,189		Mitsui OSK Lines Ltd		479
	21,322		Mitsui-Soko Co Ltd		351
	48,400		Movida Participacoes S.A.		134
	1,478,482		MTR Corp		9,160
	422,120	*	Mundra Port and Special Economic Zone Ltd		2,303
	134,474		Nagoya Railroad Co Ltd		3,727
	60,200		Nankai Electric Railway Co Ltd		1,663
	1,082,465		National Express Group plc		5,724
	35,134		Nippon Express Co Ltd		1,959
	52,900		Nippon Konpo Unyu Soko Co Ltd		1,254
	116,686	e	Nippon Yusen Kabushiki Kaisha		1,714
	36,500		Nishi-Nippon Railroad Co Ltd		884
	28,700		Nissin Corp		481
	387,431	g	Nobina AB		2,498
	479,327		Norfolk Southern Corp		89,581
	73,153		Northgate plc		356
	156,797	*,e	Norwegian Air Shuttle AS		801
	69,509		Odakyu Electric Railway Co Ltd		1,687
	87,264		Oesterreichische Post AG.		3,693
	122,743		Old Dominion Freight Line		17,723
	12,204,290		Pacific Basin Shipping Ltd		2,633
	3,118	*	PAM Transportation Services, Inc		153
	9,609		Panalpina Welttransport Holding AG.		1,600
	12,447		Park-Ohio Holdings Corp		403
	19,018	*	Pegasus Hava Tasimaciligi AS.		93
	4,515		Piraeus Port Authority		85
	59,210	*	PKP Cargo S.A.		722
	223,000		Pos Malaysia & Services Holdings BHD		100
	318,150	*	Precious Shipping PCL		81
	219,272	e	Promotora y Operadora de Infraestructura SAB de C.V.		2,178
	12,753,500	*	PT Berlian Laju Tanker Tbk		115
	2,299,054		PT Jasa Marga Tbk		966
	12,718,000	*	PT Trada Maritime Tbk		112
	125,886		Qantas Airways Ltd		507
	52,259		Qatar Navigation QSC		950
	1,818,686		QR National Ltd		5,880
	807,290		Qube Logistics Holdings Ltd		1,607
	474,535	*	Radiant Logistics, Inc		2,990
	653,329		Redde plc		1,013
	506,474		Royal Mail plc		1,574
	1,385,000	*	Rumo S.A.		6,774
	3,013	*	Ryanair Holdings plc		39

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	24,201	*	Ryanair Holdings plc (ADR)	$	1,814
	64,002		Ryder System, Inc		3,967
	672,993	*	Safe Bulkers, Inc		983
	77,200		Sagami Railway Co Ltd		2,378
	30,167	*	Saia, Inc		1,843
	96	*,†	SAir Group		0
	6,200		Sakai Moving Service Co Ltd		394
	231,600		Sankyu, Inc		11,320
	136,100		Santos Brasil Participacoes S.A.		139
	2,531,273	*,e	SAS AB		5,095
	11,100		SBS Holdings, Inc		187
	572,154		Schneider National, Inc		12,044
	520,982		Scorpio Bulkers, Inc		2,001
	336,311	e	Seaspan Corp		2,926
	436,429		Seibu Holdings, Inc		7,647
	705,481		Seino Holdings Corp		9,428
	148,500		Senko Co Ltd		1,235
	5,300		SF Holding Co Ltd		29
	168,700		SG Holdings Co Ltd		4,921
	69,500		Shandong Airlines Co Ltd		106
	25,100		Shanghai International Airport Co Ltd		231
	251,400		Shanghai International Port Group Co Ltd		271
	102,700		Shanghai Jinjiang International Investment Holdings Co		111
	974,500		Shenzhen International Holdings Ltd		2,072
	52,100		Shinwa Kaiun Kaisha Ltd		1,118
	147,600		SIA Engineering Co Ltd		268
	165,000		Sincere Navigation		84
	364,384		Singapore Airlines Ltd		2,602
	730,074		Singapore Airport Terminal Services Ltd		2,759
	866,019		Singapore Post Ltd		640
	2,597,000		Sinotrans Ltd		1,117
	1,161,000		SITC International Co Ltd		1,192
	17,211		Sixt AG.		1,800
	46,659		Sixt AG. (Preference)		3,186
	7,087		Sixt Leasing AG.		84
	176,153		Skywest, Inc		9,563
	100,216		Societa Iniziative Autostradali e Servizi S.p.A.		1,737
	1,301,237		Southwest Airlines Co		67,547
	623,751	*	SpiceJet Ltd		879
	447,289	*	Spirit Airlines, Inc		23,644
	251,795		Stagecoach Group plc		504
	12,450		Stolt-Nielsen S.A.		155
	178,977	*	STX Pan Ocean Co Ltd		650
	33,683		Sumitomo Warehouse Co Ltd		426
	1,001,971		Sydney Airport		5,289
	117,000		T.Join Transportation Co		140
	2,205,000		Taiwan High Speed Rail Corp		2,578
	129,244		TAV Havalimanlari Holding AS		542
	140,000		Tegma Gestao Logistica		943
	228,541		TFI International, Inc		6,750
	191,600	*	Thai Airways International PCL (Foreign)		74
	1,188,000		Tianjin Port Development Holdings Ltd		136

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	332,267		TNT NV	$	850
	161,452		Tobu Railway Co Ltd		4,666
	421,997		Tokyu Corp		7,377
	12,100		Tonami Holdings Co Ltd		690
	104,956	e	Tourism Holdings Ltd		339
	3,900		Trancom Co Ltd		230
	2,305,473		Transurban Group (ASE)		21,623
	1,437,882	*	Turk Hava Yollari		3,345
	228,000		U-Ming Marine Transport Corp		230
	2,785,255		Union Pacific Corp		465,695
	548,243	*	United Continental Holdings, Inc		43,739
	1,201,662		United Parcel Service, Inc (Class B)		134,274
	44,786		Universal Truckload Services, Inc		881
	28,010	*	US Xpress Enterprises, Inc		185
	27,614	*	USA Truck, Inc		399
	60,603	*	Virgin Australia Holdings Ltd		8
	67,336	*,†	Virgin Australia Int Holdings		0	^
	321,000		Wan Hai Lines Ltd		167
	57,845		Werner Enterprises, Inc		1,975
	439,502		West Japan Railway Co		33,115
	36,968		WestJet Airlines Ltd		537
	1,177,900		Westports Holdings BHD		1,086
	62,981	e	Westshore Terminals Investment Corp		943
	57,064	*,e	Wilh. Wilhelmsen ASA		200
	194,033		Wisdom Marine Lines Co Ltd		190
	4,324,000		Xiamen International Port Co Ltd		612
	174,754	*,e	XPO Logistics, Inc		9,391
	152,121		Yamato Transport Co Ltd		3,935
	601,523	*	Yang Ming Marine Transport		169
	45,438	*	YRC Worldwide, Inc		304
	400,000		Yuexiu Transport Infrastructure Ltd		326
	1,408,194		Zhejiang Expressway Co Ltd		1,616
	376,300		ZTO Express Cayman, Inc (ADR)		6,879
			TOTAL TRANSPORTATION		2,374,921
UTILITIES - 2.8%
	5,624,049		A2A S.p.A.		10,276
	1,575,710		Aboitiz Power Corp		1,062
	31,109	e	Acciona S.A.		3,467
	73,329		ACEA S.p.A.		1,242
	956,784		Actelios S.p.A.		3,478
	406,484	*	Adani Power Ltd		283
	145,208	*	Adani Transmissions Ltd		455
	996,289		AES Corp		18,013
	9,443,727		AES Gener S.A.		2,538
	114,900	*	AES Tiete S.A.		325
	348,364	*,†	AET&D Holdings No 1 Ptd Ltd		0
	1,093,507		AGL Energy Ltd		16,903
	2,462,042		Aguas Andinas S.A.		1,400
	92,156	*	Aksa Enerji Uretim AS		41
	701,525	e	Algonquin Power & Utilities Corp		7,890
	165,606		Allete, Inc		13,618
	1,351,170		Alliant Energy Corp		63,681
	271,197	e	AltaGas Ltd		3,570

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	313,410		Alupar Investimento S.A.	$	1,859
	353,347		Ameren Corp		25,989
	500,136		American Electric Power Co, Inc		41,886
	44,794		American States Water Co		3,194
	115,753		American Water Works Co, Inc		12,068
	1,145,302		APA Group (ASE)		8,130
	83,711		Aqua America, Inc		3,050
	115,249	*	AquaVenture Holdings Ltd		2,230
	11,043		Artesian Resources Corp		412
	41,990		Ascopiave S.p.A.		166
	115,544		Atco Ltd		3,891
	124,783		Athens Water Supply & Sewage Co S.A.		767
	598,124	*,e	Atlantic Power Corp		1,507
	483,868		Atmos Energy Corp		49,804
	1,568,238		AusNet Services		1,978
	65,050		Avangrid, Inc		3,275
	81,663		Avista Corp		3,317
	544,911	*	Babcock & Brown Wind Partners		170
	382,800		BCPG PCL		198
	225,100		Beijing Capital Co Ltd		139
	1,179,299		Beijing Enterprises Holdings Ltd		6,697
	4,428,191		Beijing Enterprises Water Group Ltd		2,739
	18,458		BKW S.A.		1,259
	100,030		Black Hills Corp		7,409
	3,040,000	*,e	Blue Sky Power Holdings Ltd		113
	92,989	e	Boralex, Inc		1,319
	26,897	*,e	Cadiz, Inc		260
	58,489		California Water Service Group		3,175
	160,165		Canadian Utilities Ltd		4,372
	416,000	e	Canvest Environment Protection Group Co Ltd		208
	171,156		Capital Power Corp		4,009
	51,489		Capital Stage AG.		365
	658,764		Centerpoint Energy, Inc		20,224
	401,700	*	Centrais Eletricas Brasileiras S.A.		3,764
	270,279	*	Centrais Eletricas Brasileiras S.A. (Preference)		2,613
	4,861,022		Centrica plc		7,241
	138,246		CESC Ltd		1,456
	165,009		CEZ AS		3,878
	1,844,000	e	CGN New Energy Holdings Co Ltd		279
	8,359,000	g	CGN Power Co Ltd		2,333
	42,096		Chesapeake Utilities Corp		3,840
	8,960,000		China Datang Corp Renewable Power Co Ltd		1,061
	285,000	e,g	China Everbright Greentech Ltd		227
	475,300		China Everbright Water Ltd		123
	1,631,308		China Gas Holdings Ltd		5,747
	2,547,627		China Longyuan Power Group Corp		1,775
	102,600		China National Nuclear Power Co Ltd		92
	2,868,000	e	China Oil and Gas Group Ltd		187
	279,500		China Power Clean Energy Development Co Ltd		184
	3,740,000		China Power International Development Ltd		958
	1,057,580		China Resources Gas Group Ltd		4,993
	1,606,161		China Resources Power Holdings Co		2,416
	148,000		China Tian Lun Gas Holdings Ltd		170

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,590,000		China Water Affairs Group Ltd	$	1,662
	219,100		China Yangtze Power Co Ltd		550
	691,927		Chubu Electric Power Co, Inc		10,817
	254,857	e	Chugoku Electric Power Co, Inc		3,181
	73,000		Cia de Gas de Sao Paulo-COMGAS		1,527
	308,100		Cia de Saneamento Basico do Estado de Sao Paulo		3,305
	243,580		Cia de Saneamento de Minas Gerais-COPASA		3,799
	439,300		Cia de Saneamento do Parana (Preference)		1,560
	2,015,133		Cia Energetica de Minas Gerais		7,154
	122,100		Cia Energetica de Sao Paulo (Class B)		753
	6,404		Cia Energetica do Ceara		86
	63,700		Cia Paranaense de Energia		592
	1,035,417		CK Infrastructure Holdings Ltd		8,499
	1,463,600		CK Power PCL		227
	454,269		Clearway Energy, Inc (Class A)		6,605
	122,821		Clearway Energy, Inc (Class C)		1,856
	2,630,056		CLP Holdings Ltd		30,505
	128,045		CMS Energy Corp		7,112
	13,354,337		Colbun S.A.		3,018
	3,460,000		Concord New Energy Group Ltd		183
	15,101	e	Connecticut Water Service, Inc		1,037
	113,482		Consolidated Edison, Inc		9,624
	18,745		Consolidated Water Co, Inc		241
	503,404		Contact Energy Ltd		2,382
	1,320,000		CT Environmental Group Ltd		57
	2,650,000		Datang International Power Generation Co Ltd		710
	2,525,881		Dominion Resources, Inc		193,634
	683,431		Drax Group plc		3,370
	61,016		DTE Energy Co		7,611
	483,792		Duke Energy Corp		43,541
	2,899,621		E.ON AG.		32,268
	809,925		Edison International		50,151
	173,500		EDP - Energias do Brasil S.A.		752
	49,361		El Paso Electric Co		2,903
	226,100		Electric Power Development Co		5,513
	784,193		Electricite de France		10,735
	139,600		Electricity Generating PCL		1,286
	39,547		Elia System Operator S.A.		2,773
	138,275		Emera, Inc		5,170
	278,289		Empresa Electrica del Norte Grande S.A.		535
	799,128		Endesa S.A.		20,394
	369,905		Enea S.A.		843
	12,472,397		Enel S.p.A.		79,921
	135,119		Energa S.A.		304
	2,700,194		Energias de Portugal S.A.		10,624
	1	*	Energix-Renewable Energies Ltd		0	^
	146,362	g	Enerjisa Enerji AS.		136
	61,996,727		Enersis Chile S.A.		6,496
	25,096,283		Enersis S.A.		4,460
	60,600	*	Eneva S.A.		286
	156,251		Engie Brasil Energia S.A.		1,704
	728,328		ENN Energy Holdings Ltd		7,049
	1,712,966		Entergy Corp		163,811
	139,200		Equatorial Energia S.A.		2,844

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,700		eRex Co Ltd	$	128
	72,763		ERG S.p.A.		1,378
	268,937		Evergy, Inc		15,612
	106,825		Eversource Energy		7,579
	24,402		EVN AG.		355
	3,053,902		Exelon Corp		153,092
	3,610,300		First Gen Corp		1,500
	8,304,799		FirstEnergy Corp		345,563
	441,553		Fortis, Inc		16,319
	1,408,863	e	Fortum Oyj		28,856
	1,204,857	*	GAIL India Ltd		6,051
	581,200		Gas Malaysia BHD		406
	572,565	e	Gas Natural SDG S.A.		16,026
	2,041,127		Gaz de France		30,439
	3,630,000	*,e	GCL New Energy Holdings Ltd		157
	358,700		GD Power Development Co Ltd		143
	579,923		Genesis Energy Ltd		1,272
	13,030		Global Water Resources, Inc		128
	660,171		Glow Energy PCL (Foreign)		1,893
	2,451,066		Guangdong Investments Ltd		4,733
	268,710		Gujarat Gas Ltd		574
	206,219		Gujarat State Petronet Ltd		568
	242,700		Gulf Energy Development PCL		731
	56,128		Hawaiian Electric Industries, Inc		2,288
	485,118		Hera S.p.A.		1,756
	2,425,052		HK Electric Investments & HK Electric Investments Ltd		2,478
	1,387,700		Hokkaido Electric Power Co, Inc		7,988
	123,200	*	Hokuriku Electric Power Co		967
	267,324		Holding CO ADMIE IPTO S.A.		517
	10,847,485		Hong Kong & China Gas Ltd		26,015
	1,872,179		Hong Kong Electric Holdings Ltd		12,989
	277,230	*	Huadian Energy Co Ltd		71
	12,740,000		Huadian Power International Corp Ltd		5,249
	303,900		Huadian Power International Corp Ltd (Class A)		197
	38,800		Huaneng Power International, Inc		38
	3,491,756		Huaneng Power International, Inc (Hong Kong)		2,029
	3,992,000		Huaneng Renewables Corp Ltd		1,111
	369,800		Hub Power Co Ltd		193
	248,500		Hubei Energy Group Co Ltd		155
	430,264	e,g	Hydro One Ltd		6,684
	6,113,819		Iberdrola S.A.		53,678
	159,491		Idacorp, Inc		15,876
	118,246		Indraprastha Gas Ltd		521
	481,800		Infraestructura Energetica ,NV SAB de C.V.		1,936
	1,266,967		Infratil Ltd		3,599
	149,128	e	Innergex Renewable Energy, Inc		1,571
	1,906	*	Innogy SE		82
	38,038	g	Innogy SE		1,759
	1,027,900	*,†	Inter Far East Energy Corp		0	^
	816,603		Interconexion Electrica S.A.		4,088
	1,353,828		Inversiones Aguas Metropolitanas S.A.		2,069
	2,730,519		Iride S.p.A.		6,971

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,962,390		Italgas S.p.A	$	12,126
	197,177		JSW Energy Ltd		206
	122,669		Just Energy Income Fund		416
	7,200		K&O Energy Group, Inc		99
	1,926,868		Kansai Electric Power Co, Inc		28,416
	45,473		Kenon Holdings Ltd		871
	2,834,200		Keppel Infrastructure Trust		973
	6,377		Korea District Heating Corp		343
	737,799		Korea Electric Power Corp		19,405
	150,459	*	Korea Gas Corp		5,986
	207,500		Kot Addu Power Co Ltd		67
	318,175		Kyushu Electric Power Co, Inc		3,758
	43,000		Light S.A.		226
	60,375		Mahanagar Gas Ltd		918
	624,100		Malakoff Corp BHD		139
	360,010		Manila Electric Co		2,609
	671,400		Manila Water Co, Inc		295
	658,652		MDU Resources Group, Inc		17,013
	1,926,283		Meridian Energy Ltd		5,495
	42,690		MGE Energy, Inc		2,902
	18,254		Middlesex Water Co		1,022
	471,033	e	Mighty River Power Ltd		1,251
	116,874		National Fuel Gas Co		7,125
	3,989,429		National Grid plc		44,284
	180,062		New Jersey Resources Corp		8,965
	1,414,345		NextEra Energy, Inc		273,421
	19,700		Nippon Gas Co Ltd		546
	706,485		NiSource, Inc		20,248
	163,067		Northland Power Income Fund		2,880
	55,519		Northwest Natural Holding Co		3,644
	62,609		NorthWestern Corp		4,408
	564,942		NRG Energy, Inc		23,999
	3,475,882		NTPC Ltd		6,754
	202,249		Oest Elektrizitatswirts AG. (Class A)		9,713
	426,075		OGE Energy Corp		18,372
	92,201		Okinawa Electric Power Co, Inc		1,570
	23,000		Omega Geracao S.A.		115
	186,687		ONE Gas, Inc		16,621
	48,431		Ormat Technologies, Inc		2,671
	189,540	g	Orsted AS		14,365
	343,512		Osaka Gas Co Ltd		6,792
	46,904		Otter Tail Corp		2,337
	20,000	*	Pampa Energia S.A. (ADR)		551
	2,290,000	*,e	Panda Green Energy Group Ltd		107
	319,125		Pattern Energy Group, Inc		7,021
	624,581		Pennon Group plc		6,051
	682,791		Petronas Gas BHD		2,951
	1,065,560	*,b	PG&E Corp		18,967
	1,131,078		Pinnacle West Capital Corp		108,108
	246,186		PNM Resources, Inc		11,654
	698,197	*	Polska Grupa Energetyczna S.A.		1,809
	268,721		Portland General Electric Co		13,930
	1,985,360		Power Grid Corp of India Ltd		5,672

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	352,010		PPL Corp	$	11,173
	11,452,932		PT Perusahaan Gas Negara Persero Tbk		1,895
	1,329,954		PTC India Ltd		1,408
	65,593	*	Public Power Corp		114
	321,705		Public Service Enterprise Group, Inc		19,112
	25,122	*	Pure Cycle Corp		248
	45,270	*	Qatar Electricity & Water Co		2,142
	288,595		Red Electrica Corp S.A.		6,152
	783,447		Redes Energeticas Nacionais S.A.		2,236
	71,743		Reliance Energy Ltd		142
	337,651	*	Reliance Power Ltd		55
	21,600	*,e	RENOVA, Inc		192
	9,499		RGC Resources, Inc		252
	58,195		Rubis S.C.A		3,177
	1,718,152		RWE AG.		46,136
	14,136		Samchully Co Ltd		1,175
	47,870	e,g	Scatec Solar ASA		493
	680,834		Scottish & Southern Energy plc		10,534
	129,300		SDIC Power Holdings Co Ltd		160
	24,363		Sechilienne-Sidec		571
	1,263,817		Sempra Energy		159,064
	210,709		Severn Trent plc		5,427
	199,800		Shenergy Co Ltd		167
	184,100		Shenzhen Energy Group Co Ltd		178
	133,000		Shikoku Electric Power Co, Inc		1,622
	27,300		Shizuoka Gas Co Ltd		208
	94,000		Sichuan Chuantou Energy Co Ltd		131
	17,873,580	e	SIIC Environment Holdings Ltd		4,418
	95,873		SJW Corp		5,919
	128,000	*,†	Sound Global Ltd		0	^
	115,423		South Jersey Industries, Inc		3,702
	680,790		Southern Co		35,183
	142,052		Southwest Gas Corp		11,685
	16,048	e	Spark Energy, Inc		143
	995,868		Spark Infrastructure Group		1,614
	174,200		SPCG PCL		101
	110,085		Spire, Inc		9,059
	338,584		Suez Environnement S.A.		4,485
	1,394,800	*	Super Energy Corp PCL (Foreign)		27
	230,954		Superior Plus Corp		1,979
	206,450		Taiwan Cogeneration Corp		177
	1,229,080		Tata Power Co Ltd		1,309
	609,803	*	Tauron Polska Energia S.A.		322
	46,174		Telecom Plus plc		914
	2,834,541		Tenaga Nasional BHD		8,806
	200,431		Terna Energy S.A.		1,452
	2,289,767		Terna Rete Elettrica Nazionale S.p.A.		14,533
	89,058		TerraForm Power, Inc		1,224
	315,600		Thai Tap Water Supply PCL		121
	248,000		Tianjin Development Hldgs Ltd		89
	61,675		Toho Gas Co Ltd		2,774
	344,008		Tohoku Electric Power Co, Inc		4,392
	1,940,316	*	Tokyo Electric Power Co, Inc		12,275

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	559,761		Tokyo Gas Co Ltd	$	15,153
	268,876		Torrent Power Ltd		998
	1,133,000		Towngas China Co Ltd		891
	373,072		TransAlta Corp		2,741
	170,410	*,e	TransAlta Renewables, Inc		1,727
	490,300		Transmissora Alianca de Energia Eletrica S.A.		3,106
	416,970		UGI Corp		23,108
	164,430		Uniper SE		4,960
	694,969		United Utilities Group plc		7,381
	17,223		Unitil Corp		933
	84,674	e	Valener, Inc		1,657
	603,035		Veolia Environnement		13,492
	1,266,338		Vistra Energy Corp		32,963
	114,350		WEC Energy Group, Inc		9,043
	467,200		WHA Utilities and Power PCL		88
	531,284		Xcel Energy, Inc		29,863
	17,474		York Water Co		600
	3,094,390		YTL Corp BHD		804
	311,900		Zhejiang Zheneng Electric Power Co Ltd		226
	322,184	*	Zorlu Enerji Elektrik Uretim AS		72
			TOTAL UTILITIES		3,271,152
			TOTAL COMMON STOCKS		113,780,337
			(Cost $104,604,755)
PURCHASED OPTIONS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	3,000,000		Chicago Board Options Exchange SPX Volatility Index		1,200
			TOTAL DIVERSIFIED FINANCIALS		1,200
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	3,000		Cigna Corp		0	^
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		0	^
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	1,600,000		Intel Corp		2,704
	500,000		QUALCOMM, Inc		1,420
	2,000		Taiwan Semiconductor Manufacturing Co Ltd		4
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		4,128
SOFTWARE & SERVICES - 0.0%
	1,000,000		Microsoft Corp		1,100
			TOTAL SOFTWARE & SERVICES		1,100
			TOTAL PURCHASED OPTIONS		6,428
			(Cost $7,525)
PREFERRED STOCKS - 0.0%
REAL ESTATE - 0.0%
	8,497,223	*,†	Ayala Land, Inc		16
			TOTAL REAL ESTATE		16
			TOTAL PREFERRED STOCKS		16
			(Cost $20)

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
RIGHTS / WARRANTS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
	24,621		Doosan Heavy Industries & Construction Co Ltd	$	25
			TOTAL AUTOMOBILES & COMPONENTS		25
CAPITAL GOODS - 0.0%
	79,135	†,e	Abengoa S.A. (B Shares)		0
	134,026		Xinjiang Goldwind Science & Technology Co Ltd		53
			TOTAL CAPITAL GOODS		53
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	134,371	e	AF AB		274
	230,631	†	Media General, Inc		0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		274
CONSUMER SERVICES - 0.0%
	335,910	e	Promotora de Informaciones SA		26
			TOTAL CONSUMER SERVICES		26
MATERIALS - 0.0%
	36,321	†	A Schulman, Inc		16
	192,902	†	Pan American Silver Corp		103
	410,559	†,e	Pan American Silver Corp		93
			TOTAL MATERIALS		212
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	55,620	†	Forest Laboratories, Inc CVR		53
	17,790	†,e	Omthera Pharmaceuticals, Inc		11
	20,027	e	Tobira Therapeutics, Inc		1
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		65
REAL ESTATE - 0.0%
	310,070		Sunway BHD		23
	66,478,080		U City PCL		21
			TOTAL REAL ESTATE		44
TELECOMMUNICATION SERVICES - 0.0%
	4,872,734		Vodafone Idea Ltd		404
			TOTAL TELECOMMUNICATION SERVICES		404
TRANSPORTATION - 0.0%
	147,032		BTS Group Holdings PCL		5
	685,198	e	Ezion Holdings Ltd		0
			TOTAL TRANSPORTATION		5
UTILITIES - 0.0%
	263,388		Keppel Infrastructure Trust		5
			TOTAL UTILITIES		5
			TOTAL RIGHTS / WARRANTS		1,113
			(Cost $1,143)

PRINCIPAL		ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 2.5%
GOVERNMENT AGENCY DEBT - 0.0%
$	25,250,000	Federal Home Loan Bank (FHLB)		2.250	%	04/01/19	25,250
		TOTAL GOVERNMENT AGENCY DEBT					25,250

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
TREASURY DEBT - 0.8%
$	116,700,000		United States Treasury Bill		2.383-2.386	%	04/02/19	$	116,692
	64,050,000		United States Treasury Bill		2.371		04/09/19		64,016
	158,900,000		United States Treasury Bill		2.372-2.394		04/11/19		158,795
	110,800,000		United States Treasury Bill		2.372-2.427		04/16/19		110,690
	23,525,000		United States Treasury Bill		2.394-2.396		04/18/19		23,498
	9,900,000		United States Treasury Bill		2.416		04/23/19		9,885
	93,700,000		United States Treasury Bill		2.395		04/30/19		93,520
	194,000,000		United States Treasury Bill		2.398-2.399		05/07/19		193,536
	101,720,000		United States Treasury Bill		2.420		05/21/19		101,393
	36,300,000	j	United States Treasury Bill		0.000		05/28/19		36,165
			TOTAL TREASURY DEBT						908,190
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.7%
CERTIFICATE OF DEPOSIT - 0.3%
	21,000,000		Australia & New Zealand Bank		2.882		01/17/20		21,042
	44,000,000		Australia & New Zealand Bank		2.656		04/27/20		44,000
	78,000,000		Credit Agricole		2.642		04/17/19		78,000
	78,000,000		Lloyds Bank plc		2.649		09/26/19		78,000
	69,000,000		Mizuho Bank Ltd		2.670		04/02/19		69,000
			TOTAL CERTIFICATE OF DEPOSIT						290,042
COMMERCIAL PAPER - 0.3%
	70,000,000		Bedford Row Corp		2.644		04/15/19		70,000
	78,000,000		Can Ast & Can Ltd Jt		0.000		05/01/19		77,814
	68,000,000		Canadian Imperial Bank		2.699		10/01/19		68,000
	46,000,000		National Bank of Canada		2.679		07/01/19		46,000
	65,000,000		Natixis		0.000		05/01/19		64,860
	66,000,000		Societe Generale		0.010		04/24/19		65,888
			TOTAL COMMERCIAL PAPER						392,562
REPURCHASE AGREEMENT - 1.1%
	95,000,000	r	Calyon		2.600		04/01/19		95,000
	150,000,000	s	Citigroup		2.560		04/01/19		150,000
	125,000,000	t	Goldman Sachs		2.510		04/01/19		125,000
	147,000,000	u	HSBC		2.580		04/01/19		147,000
	142,000,000	v	JP Morgan		2.570		04/01/19		142,000
	10,000,000	w	Merrill Lynch		2.550		04/01/19		10,000
	183,872,000	x	Merrill Lynch		2.600		04/01/19		183,872
	96,000,000	y	Morgan Stanley		2.570		04/01/19		96,000
	164,000,000	z	Nomura		2.650		04/01/19		164,000
	142,000,000	aa	Royal Bank of Scotland		2.550		04/01/19		142,000
	15,000,000	bb	Societe Generale		2.770		04/01/19		15,000
			TOTAL REPURCHASE AGREEMENT						1,269,872
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						1,952,476
			TOTAL SHORT-TERM INVESTMENTS						2,885,916
			(Cost $2,885,903)
			TOTAL INVESTMENTS - 101.6%						116,676,774
			(Cost $107,501,951)
			OTHER ASSETS & LIABILITIES, NET - (1.6)%						(1,867,769	)
			NET ASSETS - 100.0%					$	114,809,005

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

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

^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
a	Affiliated holding
b	In bankruptcy
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $1,900,106,736.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/19, the aggregate value of these securities was $700,554,363 or 0.6% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
j	Zero coupon
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 Calyon, 2.60% dated 3/29/19 to be repurchased at $95,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $96,900,000.
s	Agreement with Citigroup, 2.56% dated 3/29/19 to be repurchased at $150,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $153,002,000.
t	Agreement with Goldman Sachs, 2.51% dated 3/29/19 to be repurchased at $125,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $127,500,000.
u	Agreement with HSBC, 2.58% dated 3/29/19 to be repurchased at $147,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $149,940,000.
v	Agreement with JP Morgan, 2.57% dated 3/29/19 to be repurchased at $142,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $144,840,000.
w	Agreement with Merrill Lynch, 2.55% dated 3/29/19 to be repurchased at $10,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $10,200,000.
x	Agreement with Merrill Lynch, 2.60% dated 3/29/19 to be repurchased at $183,872,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $187,549,000.
y	Agreement with Morgan Stanley, 2.57% dated 3/29/19 to be repurchased at $96,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $97,920,000.
z	Agreement with Nomura, 2.65% dated 3/29/19 to be repurchased at $164,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $167,280,000.
aa	Agreement with Royal Bank of Scotland, 2.55% dated 3/29/19 to be repurchased at $142,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $144,840,000.
bb	Agreement with Societe Generale, 2.77% dated 3/29/19 to be repurchased at $15,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $15,300,000.

Cost amounts are in thousands.

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Futures contracts outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):

Description	Number of long (short) contracts		Expiration date		Notional amount		Value		Unrealized appreciation (depreciation)
Russell 2000 E Mini Index		348		06/21/19	$	26,774	$	26,862	$	88
S&P 500 E Mini Index		2,202		06/21/19		306,069		312,442		6,373
S&P Mid-Cap 400 E Mini Index		201		06/21/19		37,880		38,210		330
Total		2,751			$	370,723	$	377,514	$	6,791

Purchased options outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):

Description/underlying investment	Number of contracts		Notional amount		Exercise price		Expiration date	Value
Chicago Board Options Exchange SPX Volatility Index, Call		30,000	$	2,356	$	20.00	04/17/19	$	1,200
Cigna Corp, Call		30		28		230.00	04/18/19		0	^
Intel Corp, Call		16,000		3,014		52.50	04/18/19		2,704
Microsoft Corp, Call		10,000		1,606		119.00	04/12/19		1,100
QUALCOMM, Inc, Call		5,000		518		55.00	04/18/19		1,420
Taiwan Semiconductor Manufacturing Co Ltd, Call		20		3		42.00	10/18/19		4
Total		61,050	$	7,525				$	6,428

^ Amount represents less than $1,000.

Written options outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):

Description/underlying investment	Number of contracts		Notional amount			Exercise price		Expiration date	Value
AbbVie, Inc, Put		30	$	(2	)	$	75.00	04/26/19	$	(2	)
Activision Blizzard, Inc, Put		40		(1	)		38.00	04/05/19		(0	)^
Align Technology, Inc, Call		20		(34	)		300.00	07/19/19		(36	)
Apple, Inc, Call		25		(17	)		195.00	07/19/19		(19	)
Apple, Inc, Put		25		(8	)		170.00	07/19/19		(7	)
Chicago Board Options Exchange SPX Volatility Index, Call		30,000		(678	)		30.00	04/17/19		(450	)
Ciena Corp, Put		50		(1	)		36.00	04/05/19		(1	)
Cigna Corp, Call		30		(17	)		240.00	04/18/19		(0	)^
Cigna Corp, Call		30		(11	)		250.00	04/18/19		(0	)^
Kroger Co, Put		50		(1	)		22.50	04/12/19		(0	)^
Lowe’s Cos, Inc, Call		50		(7	)		120.00	06/21/19		(5	)
Microsoft Corp, Call		10,000		(270	)		124.00	04/12/19		(90	)
Microsoft Corp, Put		5,000		(156	)		109.00	04/12/19		(85	)
Microsoft Corp, Put		5,000		(204	)		110.00	04/12/19		(75	)
QUALCOMM, Inc, Call		5,000		(115	)		60.00	04/18/19		(225	)
Taiwan Semiconductor Manufacturing Co Ltd, Call		20		(0	)^		49.00	10/18/19		(1	)
Taiwan Semiconductor Manufacturing Co Ltd, Put		20		(2	)		34.00	10/18/19		(2	)
Teradata Corp, Put		30		(2	)		40.00	05/17/19		(2	)
Total		55,420	$	(1,526	)				$	(1,000	)
^   Amount represents less than $1,000.

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Forward foreign currency contracts outstanding as of March 31, 2019 were as follows (dollar amounts are in thousands):

Currency to be purchased	Receive	Currency to be sold	Deliver		Counterparty	Settlement date	Unrealized appreciation (depreciation)
$	2,012	SEK		17,800	Bank of America	04/09/19	$	97
EUR	3,500	$		4,034	Bank of America	04/09/19		(105	)
Total							$	(8	)
$	7,038	CAD		9,300	Morgan Stanley	04/09/19	$	77
$	7,036	GBP		5,500	Morgan Stanley	04/09/19		(131	)
$	1,250	SEK		11,300	Morgan Stanley	04/09/19		33
JPY	137,000	$		1,256	Morgan Stanley	04/09/19		(19	)
Total							$	(40	)
Total							$	(48	)

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

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

March 31, 2019

Country	Value (000)		% of total portfolio
DOMESTIC
UNITED STATES	$	81,382,998		69.8	%
TOTAL DOMESTIC		81,382,998		69.8
FOREIGN
ARGENTINA		5,173		0.0
AUSTRALIA		1,629,084		1.4
AUSTRIA		177,118		0.2
BELGIUM		173,960		0.1
BERMUDA		49,663		0.0
BRAZIL		704,560		0.6
CANADA		2,227,367		1.9
CAYMAN ISLANDS		592		0.0
CHILE		98,726		0.1
CHINA		2,828,963		2.4
COLOMBIA		33,942		0.0
COTE D’IVOIRE		1,540		0.0
CYPRUS		63		0.0
CZECH REPUBLIC		33,797		0.0
DENMARK		396,258		0.3
EGYPT		15,389		0.0
FAROE ISLANDS		1,815		0.0
FINLAND		260,789		0.2
FRANCE		2,486,574		2.1
GEORGIA		1,622		0.0
GERMANY		1,590,919		1.4
GHANA		5,836		0.0
GREECE		23,675		0.0
HONG KONG		850,937		0.7
HUNGARY		30,249		0.0
INDIA		926,493		0.8
INDONESIA		172,596		0.1
IRELAND		302,618		0.3
ISRAEL		205,856		0.2
ITALY		634,734		0.5
JAPAN		5,814,372		5.0
JERSEY, C.I.		568		0.0
JORDAN		18,746		0.0
KAZAKHSTAN		21,566		0.0
KENYA		9,695		0.0
KOREA, REPUBLIC OF		1,136,457		1.0
LIECHTENSTEIN		1,118		0.0
LUXEMBOURG		44,568		0.0
MACAU		53,589		0.0
MALAYSIA		185,395		0.2
MALTA		6,675		0.0
MEXICO		198,258		0.2
MONACO		6,008		0.0
MONGOLIA		1,815		0.0
MYANMAR		201		0.0
NETHERLANDS		1,423,201		1.2

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Country	Value (000)		% of total portfolio
NEW ZEALAND	$	72,644		0.1	%
NORWAY		231,206		0.2
PAKISTAN		11,223		0.0
PANAMA		6,122		0.0
PERU		40,616		0.0
PHILIPPINES		116,526		0.1
POLAND		80,900		0.1
PORTUGAL		48,166		0.0
PUERTO RICO		51,705		0.0
QATAR		62,202		0.1
ROMANIA		6,666		0.0
RUSSIA		297,569		0.3
SINGAPORE		265,118		0.2
SLOVENIA		8,116		0.0
SOUTH AFRICA		528,963		0.5
SPAIN		585,288		0.5
SWEDEN		546,272		0.5
SWITZERLAND		2,031,134		1.7
TAIWAN		1,077,642		0.9
TANZANIA, UNITED REPUBLIC OF		295		0.0
THAILAND		196,552		0.3
TURKEY		62,454		0.1
UKRAINE		12,541		0.0
UNITED ARAB EMIRATES		60,678		0.1
UNITED KINGDOM		4,010,196		3.5
URUGUAY		60,431		0.1
ZAMBIA		29,411		0.0
TOTAL FOREIGN		35,293,776		30.2
TOTAL PORTFOLIO	$	116,676,774		100.0	%

187

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2019

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.2%
ARGENTINA - 0.0%
	20		Grupo Financiero Galicia S.A. (ADR) (Class B)	$	0	^
	280,542	*	Loma Negra Cia Industrial Argentina S.A. (ADR)		3,072
	1,010	*	MercadoLibre, Inc		513
			TOTAL ARGENTINA		3,585
AUSTRALIA - 1.8%
	1,105,855	*,e	Afterpay Touch Group Ltd		16,579
	76,696		AGL Energy Ltd		1,185
	121,546		Alumina Ltd		209
	55,713	e	Amcor Ltd		610
	394,366		AMP Ltd		589
	151,824		APA Group (ASE)		1,078
	27,680		Aristocrat Leisure Ltd		483
	81,398		AusNet Services		103
	1,604,772		Australia & New Zealand Banking Group Ltd		29,679
	40,486		Australian Stock Exchange Ltd		2,011
	681,005	*	AZ BGP Holdings		2
	19,623	e	Bank of Queensland Ltd		127
	22,753		Bendigo Bank Ltd		157
	3,512,966		BHP Billiton Ltd		96,021
	366,139		BHP Group plc		8,834
	26,263		BlueScope Steel Ltd		261
	56,729		Boral Ltd		185
	77,636		Brambles Ltd		649
	12,859		Caltex Australia Ltd		239
	87,216		Challenger Financial Services Group Ltd		514
	4,535		CIMIC Group Ltd		156
	24,201		Coca-Cola Amatil Ltd		149
	4,743		Cochlear Ltd		585
	106,069	*	Coles Group Ltd		892
	85,257		Commonwealth Bank of Australia		4,279
	22,668		Computershare Ltd		275
	18,188		Crown Resorts Ltd		149
	77,529		CSL Ltd		10,757
	101,278	e	Dexus Property Group		917
	2,823	e	Domino’s Pizza Enterprises Ltd		87
	2,695		Flight Centre Travel Group Ltd		80
	9,529,213		Fortescue Metals Group Ltd		48,229
	157,784		GPT Group (ASE)		696
	28,640	e	Harvey Norman Holdings Ltd		82
	521,900		IDP Education Ltd		5,410
	80,333		Incitec Pivot Ltd		178
	150,000		Ingenia Communities Group		322
	316,355		Insurance Australia Group Ltd		1,727
	67,252		Lend Lease Corp Ltd		592

188

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	194,730		Macquarie Goodman Group	$	1,847
	40,774		Macquarie Group Ltd		3,755
	133,064		Medibank Pvt Ltd		261
	324,409		Mirvac Group		634
	268,000	*	MMG Ltd		109
	131,866		National Australia Bank Ltd		2,369
	37,085		Newcrest Mining Ltd		672
	65,536		Oil Search Ltd		365
	18,598		Orica Ltd		233
	84,618		Origin Energy Ltd		433
	4,170	e	Perpetual Trustees Australia Ltd		115
	92,965		Qantas Airways Ltd		374
	165,471		QBE Insurance Group Ltd		1,448
	96,132		QR National Ltd		311
	11,560	e	Ramsay Health Care Ltd		529
	2,582		REA Group Ltd		137
	37,918		Rio Tinto Ltd		2,641
	1,418,607		Rio Tinto plc		82,454
	83,620		Santos Ltd		405
	4,321,572		Scentre Group		12,615
	16,055		Seek Ltd		200
	65,319		Sonic Healthcare Ltd		1,140
	245,666		South32 Ltd		652
	347,858		Stockland Trust Group		951
	163,592		Suncorp-Metway Ltd		1,602
	54,145		Sydney Airport		286
	92,456		Tabcorp Holdings Ltd		303
	564,801		Telstra Corp Ltd		1,332
	18,310		TPG Telecom Ltd		90
	221,666		Transurban Group (ASE)		2,079
	34,375		Treasury Wine Estates Ltd		365
	264,699		Vicinity Centres		489
	201,772	*	Virgin Australia Holdings Ltd		27
	5,296		Washington H Soul Pattinson & Co Ltd		99
	98,819		Wesfarmers Ltd		2,433
	165,657		Westpac Banking Corp		3,054
	83,052		Woodside Petroleum Ltd		2,039
	111,159		Woolworths Ltd		2,400
	14,780		WorleyParsons Ltd		148
			TOTAL AUSTRALIA		366,473
AUSTRIA - 0.0%
	3,748	*,e	Andritz AG.		161
	201,581	*	Erste Bank der Oesterreichischen Sparkassen AG.		7,409
	8,989		Oest Elektrizitatswirts AG. (Class A)		432
	7,085		OMV AG.		385
	7,376		Raiffeisen International Bank Holding AG.		165
	5,472		Voestalpine AG.		166
			TOTAL AUSTRIA		8,718
BELGIUM - 0.1%
	8,762		Ageas		423
	113,666		Anheuser-Busch InBev S.A.		9,541

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,899		Befimmo SCA Sicafi	$	171
	2,319		Cofinimmo		308
	2,899		Colruyt S.A.		214
	3,952		Groupe Bruxelles Lambert S.A.		384
	11,932		KBC Groep NV		834
	7,741		Proximus plc		224
	3,666		Solvay S.A.		397
	2,682		Telenet Group Holding NV		129
	6,090		UCB S.A.		523
	10,088	e	Umicore S.A.		449
	1,197		Warehouses De Pauw SCA		192
			TOTAL BELGIUM		13,789
BERMUDA - 0.0%
	942		RenaissanceRe Holdings Ltd		135
	155,247	*	Third Point Reinsurance Ltd		1,612
			TOTAL BERMUDA		1,747
BRAZIL - 1.4%
	493,400		AMBEV S.A.		2,121
	39,100		Atacadao Distribuicao Comercio e Industria Ltd		201
	5,778,000	*	B2W Companhia Global Do Varejo		62,305
	216,300		B3 S.A.-Brasil Bolsa Balcao		1,774
	103,100		Banco Bradesco S.A.		997
	590,235		Banco Bradesco S.A. (Preference)		6,473
	403,032		Banco do Brasil S.A.		5,015
	2,712,949		Banco Itau Holding Financeira S.A.		23,857
	41,200		Banco Santander Brasil S.A.		463
	71,800		BB Seguridade Participacoes S.A.		486
	90,000		BR Malls Participacoes S.A.		289
	18,600		Braskem S.A.		242
	56,300	*	BRF S.A.		326
	22,800	*	Centrais Eletricas Brasileiras S.A.		214
	23,900	*	Centrais Eletricas Brasileiras S.A. (Preference)		231
	2,125,200		Cia Brasileira de Distribuicao Grupo Pao de Acucar		49,643
	415,500	e	Cia Brasileira de Distribuicao Grupo Pao de Acucar (ADR)		9,673
	126,900		Cia de Concessoes Rodoviarias		380
	35,600		Cia de Saneamento Basico do Estado de Sao Paulo		382
	95,500		Cia Energetica de Minas Gerais		339
	66,500	*	Cia Siderurgica Nacional S.A.		276
	132,800		Cielo S.A.		322
	21,700		Cosan SA Industria e Comercio		236
	68,200		Empresa Brasileira de Aeronautica S.A.		321
	21,550		Engie Brasil Energia S.A.		235
	17,900		Equatorial Energia S.A.		366
	2,111,956	e	Gerdau S.A. (ADR)		8,194
	108,600		Gerdau S.A. (Preference)		420
	41,200		Hypermarcas S.A.		272
	1,153,540		Investimentos Itau S.A. - PR		3,529
	12,200		IRB Brasil Resseguros S		284
	97,300		JBS S.A.		396
	71,400		Klabin S.A.		311

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	146,100		Kroton Educacional S.A.	$	395
	1,692,000		Localiza Rent A Car		14,287
	6,651,098		Lojas Americanas S.A.(Preference)		28,488
	74,800		Lojas Renner S.A.		837
	9,900		M Dias Branco S.A.		110
	303,000		Magazine Luiza S.A.		13,376
	28,900		Multiplan Empreendimentos Imobiliarios S.A.		173
	18,600		Natura Cosmeticos S.A.		216
	731,850	*,e	Pagseguro Digital Ltd		21,846
	37,300		Petrobras Distribuidora S.A.		220
	810,500		Petroleo Brasileiro S.A.		6,448
	1,062,700		Petroleo Brasileiro S.A. (Preference)		7,616
	9,600		Porto Seguro S.A.		132
	23,800		Raia Drogasil S.A.		397
	115,300	*	Rumo S.A.		564
	20,400		Sul America SA		155
	56,780	*	Suzano Papel e Celulose S.A.		675
	45,900		Telefonica Brasil S.A.		557
	86,500		Tim Participacoes S.A.		260
	41,400		Ultrapar Participacoes S.A.		497
	833,800		Vale S.A.		10,846
	84,960		Weg S.A.		391
			TOTAL BRAZIL		289,059
CANADA - 2.2%
	40,988		Agnico-Eagle Mines Ltd		1,782
	657,600		Alimentation Couche Tard, Inc		38,737
	13,058	e	AltaGas Ltd		172
	290,252	e	ARC Resources Ltd		1,981
	3,398		Atco Ltd		114
	33,517	*,e	Aurora Cannabis, Inc		303
	354,034		Bank of Montreal		26,490
	172,739	e	Bank of Nova Scotia		9,196
	1,082,951		Barrick Gold Corp (Canada)		14,846
	20,808		BCE, Inc		924
	24,688	*	Blackberry Ltd (New)		249
	11,596		Boardwalk REIT		354
	101,599	*	Bombardier, Inc		195
	101,647		Brookfield Asset Management, Inc		4,736
	27,908		CAE, Inc		618
	37,989		Cameco Corp (Toronto)		448
	4,638		Canadian Apartment Properties REIT		178
	55,856		Canadian Imperial Bank of Commerce		4,414
	75,116		Canadian National Railway Co		6,724
	256,742		Canadian Natural Resources Ltd (Canada)		7,049
	237,671		Canadian Pacific Railway Ltd (Toronto)		48,969
	5,885		Canadian Tire Corp Ltd		634
	6,414		Canadian Utilities Ltd		175
	9,908	*,e	Canopy Growth Corp		429
	7,222		CCL Industries		292
	1,189,858		Cenovus Energy, Inc (Toronto)		10,328
	131,412	*	CGI, Inc		9,034
	6,077		Choice Properties REIT		64

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	11,556		CI Financial Corp	$	158
	975		Constellation Software, Inc		826
	8,783	*	Cronos Group, Inc		161
	263,009	*	Descartes Systems Group, Inc		9,561
	661,512		Dollarama, Inc		17,647
	2,736		Emera, Inc		102
	8,173		Empire Co Ltd		177
	139,141		Enbridge, Inc (Toronto)		5,039
	105,368		EnCana Corp		763
	2,796,456		Entertainment One Ltd		16,288
	4,295		Fairfax Financial Holdings Ltd		1,989
	8,213		Finning International, Inc		146
	13,663		First Capital Realty, Inc		219
	30,949		Fortis, Inc		1,144
	17,869		Franco-Nevada Corp		1,340
	8,347		George Weston Ltd		600
	21,833		Gildan Activewear, Inc		785
	79,000		Goldcorp, Inc		904
	27,941		Great-West Lifeco, Inc		677
	24,182		H&R Real Estate Investment Trust		424
	17,335		Husky Energy, Inc		172
	15,569	e,g	Hydro One Ltd		242
	5,314		iA Financial Corp, Inc		196
	3,731		IGM Financial, Inc		96
	26,683		Imperial Oil Ltd		728
	68,395		Intact Financial Corp		5,788
	34,993	e	Inter Pipeline Ltd		579
	22,156	e	Keyera Corp		522
	139,000	*	Kinaxis, Inc		8,110
	60,679	*	Kinross Gold Corp		209
	20,872		Loblaw Cos Ltd		1,030
	39,034		Magna International, Inc		1,901
	503,583		Manulife Financial Corp (Toronto)		8,516
	8,950		Methanex Corp		508
	29,231		Metro, Inc		1,076
	31,197	e	National Bank of Canada		1,408
	222,867		Nutrien Ltd (Toronto)		11,754
	10,124		Onex Corp		571
	27,669		Open Text Corp		1,062
	40,788		Pembina Pipeline Income Fund		1,498
	62,048		Power Corp Of Canada		1,447
	45,229		Power Financial Corp		1,057
	10,398	e	PrairieSky Royalty Ltd		140
	220,617		Recipe Unlimited Corp		4,190
	233,372	e	Restaurant Brands International, Inc		15,195
	16,273		Restaurant Brands International, Inc (Toronto)		1,059
	53,712		RioCan Real Estate Investment Trust		1,064
	33,814		Rogers Communications, Inc (Class B)		1,819
	226,388		Royal Bank of Canada		17,080
	24,295		Saputo, Inc		828
	12,633	*	Seven Generations Energy Ltd		91
	42,959		Shaw Communications, Inc (B Shares)		894
	83,428	*	Shopify, Inc (Class A) (Toronto)		17,222

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	15,015		Smart Real Estate Investment Trust	$	393
	17,295		SNC-Lavalin Group, Inc		439
	365,626	*,e,g	Spin Master Corp		10,233
	8,731	*	Stars Group, Inc		153
	93,127		Sun Life Financial, Inc		3,578
	902,729		Suncor Energy, Inc		29,257
	51,255		Teck Cominco Ltd		1,186
	20,068		TELUS Corp		743
	24,601		Thomson Reuters Corp		1,456
	447,405		Toronto-Dominion Bank		24,279
	12,225		Tourmaline Oil Corp		189
	224,825	e	TransCanada Corp		10,098
	6,761	e	Vermilion Energy, Inc		167
	8,325		West Fraser Timber Co Ltd		405
	37,732		Wheaton Precious Metals Corp		898
	5,052		WSP Global, Inc		276
			TOTAL CANADA		440,187
CHILE - 0.1%
	277,494		Aguas Andinas S.A.		158
	156,451		Antofagasta plc		1,968
	2,572,163		Banco de Chile		379
	4,317	*	Banco de Credito e Inversiones		276
	16,484,880		Banco Santander Chile S.A.		1,240
	143,397		Centros Comerciales Sudamericanos S.A.		248
	15,257		Cia Cervecerias Unidas S.A.		218
	796,183		Colbun S.A.		180
	9,005,624		Corpbanca S.A.		79
	38,370		Embotelladora Andina S.A.		140
	15,178		Empresa Nacional de Telecomunicaciones S.A.		158
	311,997		Empresas CMPC S.A.		1,100
	121,400		Empresas COPEC S.A.		1,541
	3,127,094		Enersis Chile S.A.		328
	7,876,802		Enersis S.A.		1,400
	29,904		Lan Airlines S.A.		318
	31,874		Lundin Mining Corp		148
	200,874		SACI Falabella		1,494
	28,472		Sociedad Quimica y Minera de Chile S.A. (Class B)		1,094
			TOTAL CHILE		12,467
CHINA - 3.8%
	175,500	e,g	3SBio, Inc		345
	2,600	*	51job, Inc (ADR)		202
	10,100	*	58.COM, Inc (ADR)		663
	192,000		AAC Technologies Holdings, Inc		1,139
	170,000		Agile Property Holdings Ltd		276
	7,479,000		Agricultural Bank of China		3,457
	82,100		Agricultural Bank of China Ltd		46
	2,500		Air China Ltd		4
	196,000		Air China Ltd (H shares)		241
	5,200		Aisino Corp		22
	909,516	*	Alibaba Group Holding Ltd (ADR)		165,941
	384,000	*,e	Alibaba Health Information Technology Ltd		445

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	470,000	*	Aluminum Corp of China Ltd	$	174
	150,000	e	Angang New Steel Co Ltd		110
	9,100		Angang Steel Co Ltd		8
	133,000		Anhui Conch Cement Co Ltd		814
	7,500		Anhui Conch Cement Co Ltd (Class A)		43
	390,700		Anhui Kouzi Distillery Co Ltd		3,167
	114,000		Anta Sports Products Ltd		777
	7,300		Anxin Trust Co Ltd		8
	14,300	*,e	Autohome, Inc (ADR)		1,503
	5,000		AVIC Aircraft Co Ltd		13
	245,000		AviChina Industry & Technology Co		157
	198,500	g	BAIC Motor Corp Ltd		130
	73,000	*	Baidu, Inc (ADR)		12,034
	13,000		Bank of Beijing Co Ltd		12
	28,500		Bank of China Ltd		16
	21,241,000		Bank of China Ltd (Hong Kong)		9,653
	42,300		Bank of Communications Co Ltd		39
	2,433,000		Bank of Communications Co Ltd (Hong Kong)		1,996
	6,800		Bank of Jiangsu Co Ltd		7
	12,500		Bank of Nanjing Co Ltd		15
	7,200		Bank of Ningbo Co Ltd		23
	13,140		Bank of Shanghai Co Ltd		23
	37,100		Baoshan Iron & Steel Co Ltd		40
	4,188	*,e	Baozun, Inc (ADR)		174
	266,000		BBMG Corp		98
	12,500		BBMG Corp		8
	1,500	*,e	BeiGene Ltd (ADR)		198
	200,000		Beijing Capital International Airport Co Ltd		190
	55,500		Beijing Enterprises Holdings Ltd		315
	614,000		Beijing Enterprises Water Group Ltd		380
	10,900		Beijing Tongrentang Co Ltd		49
	59,000		BOE Technology Group Co Ltd		34
	784,000	e	Brilliance China Automotive Holdings Ltd		779
	2,700		BYD Co Ltd		21
	68,000	e	BYD Co Ltd (H shares)		411
	74,000	e	BYD Electronic International Co Ltd		96
	106,000	*,e	CAR, Inc		92
	1,215,000	g	CGN Power Co Ltd		339
	261,000		China Agri-Industries Holdings Ltd		89
	9,579,000	*,†,e	China Animal Healthcare Ltd		12
	998,000		China Cinda Asset Management Co Ltd		278
	2,483,000		China Citic Bank		1,583
	384,000		China Coal Energy Co		159
	483,000		China Communications Construction Co Ltd (Hong Kong)		501
	266,000		China Communications Services Corp Ltd		238
	174,000		China Conch Venture Holdings Ltd		623
	23,452,000		China Construction Bank		20,130
	15,700		China Construction Bank Corp		16
	310,000	*,e	China COSCO Holdings Co Ltd		129
	9,700		China Eastern Airlines Corp Ltd		10
	148,000		China Eastern Airlines Corp Ltd (H Shares)		105
	30,100		China Everbright Bank Co Ltd		18

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	297,000		China Everbright Bank Co Ltd (Hong Kong)	$	141
	10,426,392		China Everbright International Ltd		10,620
	108,000		China Everbright Ltd		214
	275,000	e	China Evergrande Group		916
	3,841		China Fortune Land Development Co Ltd		18
	392,000	e	China Galaxy Securities Co Ltd		258
	7,400		China Gezhouba Group Co Ltd		8
	6,843		China Grand Automotive Services Co Ltd		5
	240,000		China Hongqiao Group Ltd		181
	1,080,000	g	China Huarong Asset Management Co Ltd		230
	172,200		China Insurance International Holdings Co Ltd		515
	117,200	e,g	China International Capital Corp Ltd		272
	3,900		China International Travel Service Corp Ltd		41
	2,014,000		China Life Insurance Co Ltd		5,430
	30,200	*,e,g	China Literature Ltd		142
	355,000		China Longyuan Power Group Corp		247
	179,000		China Medical System Holdings Ltd		174
	291,000	*	China Mengniu Dairy Co Ltd		1,083
	417,000		China Merchants Bank Co Ltd		2,031
	31,800		China Merchants Bank Co Ltd (Class A)		160
	150,000		China Merchants Holdings International Co Ltd		320
	5,200		China Merchants Securities Co Ltd		14
	9,400		China Merchants Shekou Industrial Zone Holdings Co Ltd		32
	39,200		China Minsheng Banking Corp Ltd		37
	1,845,900		China Minsheng Banking Corp Ltd (Hong Kong)		1,342
	1,634,000		China Mobile Hong Kong Ltd		16,674
	441,000	e	China Molybdenum Co Ltd		185
	20,300		China Molybdenum Co Ltd (Class A)		14
	410,000		China National Building Material Co Ltd		324
	12,600		China National Nuclear Power Co Ltd		11
	6,000		China Northern Rare Earth Group High-Tech Co Ltd		10
	234,000		China Oilfield Services Ltd		253
	134,000		China Oriental Group Co Ltd		84
	1,062,200		China Overseas Land & Investment Ltd		4,042
	10,700		China Pacific Insurance Group Co Ltd		54
	718,600		China Pacific Insurance Group Co Ltd (Hong Kong)		2,824
	570,000		China Power International Development Ltd		146
	227,500		China Railway Construction Corp		299
	19,013		China Railway Construction Corp Ltd		33
	417,000		China Railway Group Ltd		381
	166,000	g	China Railway Signal & Communication Corp Ltd		131
	728,000		China Reinsurance Group Corp		154
	154,000		China Resources Beer Holdings Company Ltd		650
	98,000		China Resources Gas Group Ltd		463
	947,836		China Resources Land Ltd		4,259
	194,000	g	China Resources Pharmaceutical Group Ltd		274
	218,000		China Resources Power Holdings Co		328
	8,400		China Resources Sanjiu Medical & Pharmaceutical Co Ltd		36
	22,300		China Shenhua Energy Co Ltd		65
	982,000		China Shenhua Energy Co Ltd (Hong Kong)		2,241
	29,900		China Shipbuilding Industry Co Ltd		26
	180,000		China Shipping Development Co Ltd		103

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	196,000		China Southern Airlines Co Ltd	$	175
	5,400		China Southern Airlines Co Ltd (Class A)		7
	65,020		China State Construction Engineering Corp Ltd		59
	216,000		China State Construction International Holdings Ltd		203
	3,940,000		China Telecom Corp Ltd		2,192
	4,212,000	*,g	China Tower Corp Ltd		978
	274,000		China Travel International Inv HK		70
	1,662,000		China Unicom Ltd		2,116
	53,100		China United Network Communications Ltd		54
	137,100	e	China Vanke Co Ltd		577
	15,200		China Vanke Co Ltd (Class A)		69
	22,700		China Yangtze Power Co Ltd		57
	190,800		China Zhongwang Holdings Ltd		104
	289,000		Chongqing Rural Commercial Bank		167
	372,000		CIFI Holdings Group Co Ltd		283
	612,000		Citic Pacific Ltd		915
	251,000	e	CITIC Securities Co Ltd		586
	20,200		CITIC Securities Co Ltd (Class A)		74
	4,802,000		CNOOC Ltd		8,945
	202,160		COSCO Pacific Ltd		219
	800,000		Country Garden Holdings Co Ltd		1,253
	137,000	*	Country Garden Services Holdings Co Ltd		256
	468,000		CRRC Corp Ltd		441
	35,700		CRRC Corp Ltd (Class A)		48
	1,236,000		CSPC Pharmaceutical Group Ltd		2,303
	221,100	*	Ctrip.com International Ltd (ADR)		9,660
	234,000	g	Dali Foods Group Co Ltd		175
	27,000		Daqin Railway Co Ltd		33
	396,000		Datang International Power Generation Co Ltd		106
	5,900		Dong-E-E-Jiao Co Ltd		42
	282,000		Dongfeng Motor Group Co Ltd		283
	84,200		ENN Energy Holdings Ltd		815
	4,800		Everbright Securities Co Ltd		9
	3,300		Fangda Carbon New Material Co Ltd		11
	241,000		Far East Horizon Ltd		255
	17,000		Focus Media Information Technology Co Ltd		16
	4,100		Foshan Haitian Flavouring & Food Co Ltd		53
	272,000		Fosun International		462
	10,900		Founder Securities Co Ltd		12
	556,000		Franshion Properties China Ltd		364
	192,000	*	Future Land Development Holdings Ltd		238
	2,600		Future Land Holdings Co Ltd		17
	56,000	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		188
	19,400	*,e	GDS Holdings Ltd (ADR)		692
	1,295,000		Geely Automobile Holdings Ltd		2,485
	4,000		Gemdale Corp		8
	102,000	*	Genscript Biotech Corp		193
	171,800		GF Securities Co Ltd		247
	8,500		GF Securities Co Ltd (Class A)		20
	1,263,000	*,e	GOME Electrical Appliances Holdings Ltd		118
	330,500	e	Great Wall Motor Co Ltd		249
	5,600		Gree Electric Appliances, Inc of Zhuhai		39
	13,000		Greenland Holdings Corp Ltd		15

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	96,000		Greentown China Holdings Ltd	$	96
	118,000		Greentown Service Group Co Ltd		105
	324,000		Guangdong Investments Ltd		626
	90,500		Guanghui Energy Co Ltd		59
	314,000		Guangzhou Automobile Group Co Ltd		372
	6,600		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		38
	105,000		Guangzhou R&F Properties Co Ltd		228
	11,400		Guotai Junan Securities Co Ltd		34
	75,800	g	Guotai Junan Securities Co Ltd (Hong Kong)		169
	73,000		Haitian International Holdings Ltd		166
	7,863,892		Haitong Securities Co Ltd		10,200
	13,300		Haitong Securities Co Ltd (Class A)		28
	15,600		Hangzhou Hikvision Digital Technology Co Ltd		81
	230		Hangzhou Robam Appliances Co Ltd		1
	3,100		Henan Shuanghui Investment & Development Co Ltd		12
	192,500		Hengan International Group Co Ltd		1,688
	5,200		Hengli Petrochemical Co Ltd		14
	2,408,000	*,e	HengTen Networks Group Ltd		73
	3,200		Hengtong Optic-electric Co Ltd		10
	16,900		Hesteel Co Ltd		9
	50,000	g	Hua Hong Semiconductor Ltd		118
	230,000		Huadian Power International Corp Ltd		95
	6,700		Huadong Medicine Co Ltd		32
	494,000		Huaneng Power International, Inc (Hong Kong)		287
	562,000		Huaneng Renewables Corp Ltd		156
	187,000	*,g	Huatai Securities Co Ltd		375
	13,600		Huatai Securities Co Ltd (Class A)		45
	7,600		Huaxia Bank Co Ltd		9
	13,900		Huazhu Group Ltd (ADR)		586
	1,700		Hundsun Technologies, Inc		22
	6,100	*	Hutchison China MediTech Ltd (ADR)		187
	344,100	*,e	HUYA, Inc (ADR)		9,680
	5,400		Iflytek Co Ltd		29
	15,940,000		Industrial & Commercial Bank of China		11,706
	75,800		Industrial & Commercial Bank of China Ltd		63
	27,600		Industrial Bank Co Ltd		75
	86,800		Inner Mongolia BaoTou Steel Union Co Ltd		24
	12,000		Inner Mongolia Yili Industrial Group Co Ltd		52
	175,700		Inner Mongolia Yitai Coal Co		216
	13,300	*,e	IQIYI Inc (ADR)		318
	181,100	*	JD.com, Inc (ADR)		5,460
	160,000		Jiangsu Express		226
	10,560		Jiangsu Hengrui Medicine Co Ltd		103
	2,600		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		50
	160,000		Jiangxi Copper Co Ltd		213
	5,558		Jiangxi Copper Co Ltd (Class A)		13
	3,700		Jiangxi Ganfeng Lithium Co Ltd		15
	113,096		Jiayuan International Group Ltd		60
	14,400		Jointown Pharmaceutical Group Co Ltd		34
	226,000	*,e	Kaisa Group Holdings Ltd		103
	7,700		Kangmei Pharmaceutical Co Ltd		12
	73,500		Kingboard Chemical Holdings Ltd		261
	252,000	e	Kingdee International Software Group Co Ltd		293

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	96,000		Kingsoft Corp Ltd	$	245
	2,000		Kweichow Moutai Co Ltd		254
	137,564	*	KWG Property Holding Ltd		166
	40,900	g	Legend Holdings Corp		109
	756,000		Lenovo Group Ltd		682
	150,000		Logan Property Holdings Co Ltd		249
	158,500		Longfor Properties Co Ltd		559
	3,200		LONGi Green Energy Technology Co Ltd		12
	9,770		Luxshare Precision Industry Co Ltd		36
	169,000	e,g	Luye Pharma Group Ltd		148
	2,400		Luzhou Laojiao Co Ltd		24
	234,000		Maanshan Iron & Steel Co Ltd		115
	9,712		Maanshan Iron & Steel Co Ltd (Class A)		6
	13,000		Meinian Onehealth Healthcare Holdings Co Ltd		36
	181,500	*,e,g	Meitu, Inc		86
	36,100	*	Meituan Dianping (Class B)		244
	10,300		Metallurgical Corp of China Ltd		5
	350,000		Metallurgical Corp of China Ltd (Hong Kong)		104
	9,400		Midea Group Co Ltd		68
	34,000	e	Minth Group Ltd		107
	32,700	*	Momo, Inc (ADR)		1,250
	2,100		Muyuan Foodstuff Co Ltd		20
	10,800		NARI Technology Co Ltd		34
	20,600		Netease.com (ADR)		4,974
	4,300		New China Life Insurance Co Ltd		34
	90,600		New China Life insurance Co Ltd (Hong Kong)		463
	36,800	*	New Oriental Education & Technology Group (ADR)		3,315
	3,100	*,e	Noah Holdings Ltd (ADR)		150
	44,900		Offshore Oil Engineering Co Ltd		43
	3,100		O-film Tech Co Ltd		7
	7,200		Orient Securities Co Ltd		13
	877,000		People’s Insurance Co Group of China Ltd		376
	1,848,000		PICC Property & Casualty Co Ltd		2,104
	20,172	*	Pinduoduo, Inc (ADR)		500
	28,900		Ping An Bank Co Ltd		55
	8,633,500		Ping An Insurance Group Co of China Ltd		97,198
	17,200		Ping An Insurance Group Co of China Ltd (Class A)		197
	19,500		Poly Real Estate Group Co Ltd		41
	874,000	g	Postal Savings Bank of China Co Ltd		500
	4,700		Power Construction Corp of China Ltd		4
	8,200		Qingdao Haier Co Ltd		21
	6,400		SAIC Motor Corp Ltd		25
	7,000		Sanan Optoelectronics Co Ltd		15
	17,800		Sany Heavy Industry Co Ltd		34
	10,900		SDIC Power Holdings Co Ltd		13
	318,500	*,e	Semiconductor Manufacturing International Corp		323
	49,000		Shaanxi Coal Industry Co Ltd		65
	10,100		Shandong Buchang Pharmaceuticals Co Ltd		44
	7,500		Shandong Gold Mining Co Ltd		34
	244,000		Shandong Weigao Group Medical Polymer Co Ltd		233
	352,000		Shanghai Electric Group Co Ltd (Hong Kong)		134
	9,600		Shanghai Fosun Pharmaceutical Group Co Ltd		42

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	68,000		Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)	$	246
	53,000		Shanghai Industrial Holdings Ltd		125
	3,100		Shanghai International Airport Co Ltd		29
	116,391		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		171
	13,300		Shanghai Pharmaceuticals Holding Co Ltd		41
	113,100		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		246
	39,700		Shanghai Pudong Development Bank Co Ltd		67
	42,179		Shanxi Lu’an Environmental Energy Development Co Ltd		49
	47,200		Shanxi Xishan Coal & Electricity Power Co Ltd		44
	16,100		Shenwan Hongyuan Group Co Ltd		13
	113,000		Shenzhen International Holdings Ltd		240
	418,000		Shenzhen Investment Ltd		160
	8,100		Shenzhen Overseas Chinese Town Co Ltd		9
	8,000		Shenzhen Salubris Pharmaceuticals Co Ltd		32
	79,500		Shenzhou International Group Holdings Ltd		1,068
	122,500		Shimao Property Holdings Ltd		384
	430,500		Shui On Land Ltd		107
	9,500		Sichuan Chuantou Energy Co Ltd		13
	8,300		Sichuan Kelun Pharmaceutical Co Ltd		36
	545,000		Sihuan Pharmaceutical Holdings		132
	7,112	*	Sina Corp		421
	338,000		Sino-Ocean Land Holdings Ltd		149
	157,000		Sinopec Engineering Group Co Ltd		154
	388,000		Sinopec Shanghai Petrochemical Co Ltd		185
	134,400		Sinopharm Group Co		560
	271,000		Sinotrans Ltd		117
	75,500	e	Sinotruk Hong Kong Ltd		161
	253,500	*	Soho China Ltd		107
	624,000		Sunac China Holdings Ltd		3,116
	18,800		Suning.com Co Ltd		35
	1,454,700		Sunny Optical Technology Group Co Ltd		17,439
	87,500	*	TAL Education Group (ADR)		3,157
	10,900		Tasly Pharmaceutical Group Co Ltd		36
	6,500		TBEA Co Ltd		8
	4,371,500		Tencent Holdings Ltd		201,036
	10,700	*,e	Tencent Music Entertainment (ADR)		194
	1,806,491		Tianqi Lithium Corp		9,456
	8,558,000		Tingyi Cayman Islands Holding Corp		14,127
	99,000		Tong Ren Tang Technologies Co Ltd		133
	11,500		Tonghua Dongbao Pharmaceutical Co Ltd		30
	106,000		Travelsky Technology Ltd		281
	40,000		Tsingtao Brewery Co Ltd		189
	150,000		Uni-President China Holdings Ltd		147
	46,000	*	Vipshop Holdings Ltd (ADR)		369
	530,000	e	Want Want China Holdings Ltd		441
	13,700	*,e	Weibo Corp (ADR)		849
	211,000		Weichai Power Co Ltd		339
	9,100		Weichai Power Co Ltd (Class A)		16
	8,200		Western Securities Co Ltd		14
	306,000		Winteam Pharmaceutical Group Ltd		182
	6,700		Wuliangye Yibin Co Ltd		95

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	53,500	*,g	Wuxi Biologics Cayman, Inc	$	521
	365,000	*,e,g	Xiaomi Corp		531
	76,600	e	Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		110
	344,862		Xinyi Solar Holdings Ltd		166
	106,649		Yangzijiang Shipbuilding		118
	232,000		Yanzhou Coal Mining Co Ltd		228
	54,000	e	Yihai International Holding Ltd		241
	16,900		Yonghui Superstores Co Ltd		22
	7,100		Yonyou Network Technology Co Ltd		36
	806,000		Yuexiul Property Co Ltd		194
	613,738		Yum China Holdings, Inc		27,563
	4,200		Yunnan Baiyao Group Co Ltd		53
	197,393		Yuzhou Properties Co		119
	5,300	*	YY, Inc (ADR)		445
	2,800		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		48
	150,000		Zhaojin Mining Industry Co Ltd		150
	2,900		Zhejiang Dahua Technology Co Ltd		7
	184,000		Zhejiang Expressway Co Ltd		211
	1,700		Zhejiang Huayou Cobalt Co Ltd		9
	8,000		Zhejiang Longsheng Group Co Ltd		20
	26,600	*,e,g	ZhongAn Online P&C Insurance Co Ltd		96
	18,300		Zhongjin Gold Corp Ltd		23
	64,000	e	Zhongsheng Group Holdings Ltd		159
	60,000		Zhuzhou CSR Times Electric Co Ltd		355
	686,000		Zijin Mining Group Co Ltd		284
	53,700		Zijin Mining Group Co Ltd (Class A)		28
	7,200	*	ZTE Corp		31
	81,800	*,e	ZTE Corp (Class H)		247
	34,400	*	ZTO Express Cayman, Inc (ADR)		629
			TOTAL CHINA		777,911
COLOMBIA - 0.0%
	23,202		BanColombia S.A.		288
	47,587		BanColombia S.A. (Preference)		603
	47,376		Cementos Argos S.A.		117
	572,432		Ecopetrol S.A.		613
	27,320		Grupo Argos S.A.		155
	346,935		Grupo Aval Acciones y Valores		134
	24,325		Grupo de Inversiones Suramericana S.A.		280
	12,582		Grupo de Inversiones Suramericana S.A. (Preference)		136
	46,744		Interconexion Electrica S.A.		234
			TOTAL COLOMBIA		2,560
CZECH REPUBLIC - 0.0%
	17,959		CEZ AS		422
	8,289		Komercni Banka AS		339
	1,368,289	g	Moneta Money Bank AS		4,724
			TOTAL CZECH REPUBLIC		5,485
DENMARK - 0.8%
	184		AP Moller - Maersk AS (Class A)		223
	316	e	AP Moller - Maersk AS (Class B)		401

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	5,157		Carlsberg AS (Class B)	$	645
	4,769		Christian Hansen Holding		484
	5,723		Coloplast AS		628
	64,379		Danske Bank AS		1,131
	153,871		DSV AS		12,733
	2,943	*	Genmab AS		511
	64,692		GN Store Nord		3,004
	3,503	e	H Lundbeck AS		152
	8,066		ISS A.S.		246
	1,845,520		Novo Nordisk AS		96,457
	10,565		Novozymes AS		486
	591,515	g	Orsted AS		44,830
	5,310		Pandora AS		248
	6,027		Tryg A.S.		165
	19,753		Vestas Wind Systems AS		1,665
	4,798	*	William Demant Holding A.S.		142
			TOTAL DENMARK		164,151
EGYPT - 0.0%
	132,877		Commercial International Bank		523
	82,673		Eastern Tobacco		87
	70,015		ElSwedy Cables Holding Co		63
			TOTAL EGYPT		673
FINLAND - 0.2%
	9,277	e	Citycon OYJ		95
	13,615		Elisa Oyj (Series A)		614
	365,229	e	Fortum Oyj		7,481
	30,742		Kone Oyj (Class B)		1,553
	10,285		Metso Oyj		355
	11,984	e	Neste Oil Oyj		1,277
	515,179		Nokia Oyj (Turquoise)		2,935
	11,063		Nokian Renkaat Oyj		371
	285,962	*,e	Nordea Bank Abp		2,177
	9,570	*,e	Orion Oyj (Class B)		360
	616,546		Sampo Oyj (A Shares)		27,944
	94,377		Stora Enso Oyj (R Shares)		1,155
	50,117		UPM-Kymmene Oyj		1,464
	41,388	e	Wartsila Oyj (B Shares)		669
			TOTAL FINLAND		48,450
FRANCE - 3.6%
	165,519		Accor S.A.		6,705
	2,763		Aeroports de Paris		535
	40,215		Air Liquide		5,118
	887,166		Airbus SE		117,582
	17,323		Alstom RGPT		751
	2,914	g	Amundi S.A.		184
	6,417		Arkema		612
	8,196		Atos Origin S.A.		791
	177,054		AXA S.A.		4,453
	2,052		BioMerieux		170

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	385,042		BNP Paribas	$	18,323
	46,622		Bollore		211
	19,376		Bouygues S.A.		693
	22,706		Bureau Veritas S.A.		533
	14,422		Cap Gemini S.A.		1,750
	58,436		Carrefour S.A.		1,091
	5,058	e	Casino Guichard Perrachon S.A.		219
	2,490		Christian Dior S.A.		1,187
	16,008		CNP Assurances		352
	44,514		Compagnie de Saint-Gobain		1,614
	1,912	*	Covivio		201
	955,989		Credit Agricole S.A.		11,543
	199,755		Danone		15,381
	118		Dassault Aviation S.A.		174
	420,872		Dassault Systemes S.A.		62,730
	21,132		Edenred		962
	3,854		Eiffage S.A.		370
	92,326		Electricite de France		1,264
	203,297		Essilor International S.A.		22,208
	4,275		Eurazeo		321
	15,523		Eutelsat Communications		272
	3,840		Faurecia		162
	5,712		Fonciere Des Regions		606
	312,231		Gaz de France		4,656
	6,558		Gecina S.A.		970
	43,909		Groupe Eurotunnel S.A.		666
	2,279		Hermes International		1,505
	7,871	e	Icade		666
	2,494		Iliad S.A.		251
	1,642		Imerys S.A.		82
	2,903		Ingenico		207
	1,815		Ipsen		249
	3,897		JC Decaux S.A.		119
	108,707		Kering		62,355
	41,165	*	Klepierre		1,440
	5,556		Lagardere S.C.A.		143
	24,993		Legrand S.A.		1,673
	161,574		L’Oreal S.A.		43,510
	76,433		LVMH Moet Hennessy Louis Vuitton S.A.		28,153
	16,745		Michelin (C.G.D.E.) (Class B)		1,978
	86,086		Natixis		461
	340,312		Orange S. A.		5,548
	20,011		Pernod-Ricard S.A.		3,593
	430,454		Peugeot S.A.		10,504
	18,447		Publicis Groupe S.A.		988
	2,190		Remy Cointreau S.A.		292
	137,931		Renault S.A.		9,120
	26,528		Rexel S.A.		299
	28,537	*	Safran S.A.		3,911
	1,070,155		Sanofi-Aventis		94,628
	1,412	e	Sartorius Stedim Biotech		179
	740,033		Schneider Electric S.A.		58,084
	15,397		SCOR SE		656

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,089		SEB S.A.	$	183
	2,549		Societe BIC S.A.		227
	70,152		Societe Generale		2,027
	8,541		Sodexho Alliance S.A.		941
	64,810		Suez Environnement S.A.		859
	158,439		Teleperformance		28,482
	9,310		Thales S.A.		1,115
	841,332		Total S.A.		46,820
	3,851	*	Ubisoft Entertainment		343
	20,412		Unibail-Rodamco-Westfield		3,346
	22,032	e	Valeo S.A.		640
	881	*,e	Vallourec SA		2
	90,491		Veolia Environnement		2,025
	208,082		Vinci S.A.		20,247
	105,919	*	Vivendi Universal S.A.		3,070
	2,785		Wendel		351
			TOTAL FRANCE		726,632
GERMANY - 1.0%
	56,483		Adidas-Salomon AG.		13,738
	2,319	g	ADO Properties S.A.		132
	107,454		Allianz AG.		23,946
	439,616		Alstria Office REIT-AG.		7,155
	36,825		Aroundtown S.A.		304
	2,385		Axel Springer AG.		123
	86,536		BASF SE		6,382
	152,661		Bayer AG.		9,830
	32,795		Bayerische Motoren Werke AG.		2,532
	2,345		Bayerische Motoren Werke AG. (Preference)		154
	129,995		Beiersdorf AG.		13,533
	1,004,461		Borussia Dortmund GmbH & Co KGaA		9,228
	14,555		Brenntag AG.		748
	93,360	*	Commerzbank AG.		724
	10,416		Continental AG.		1,571
	9,287	g	Covestro AG.		512
	88,111		Daimler AG. (Registered)		5,171
	4,479	*,g	Delivery Hero AG.		162
	64,400		Deutsche Annington Immobilien SE		3,342
	189,961		Deutsche Bank AG. (Registered)		1,549
	18,005		Deutsche Boerse AG.		2,309
	4,058		Deutsche Euroshop AG.		123
	22,167		Deutsche Lufthansa AG.		487
	92,249		Deutsche Post AG.		3,002
	732,186		Deutsche Telekom AG.		12,164
	61,519		Deutsche Wohnen AG.		2,985
	2,718		Drillisch AG.		97
	386,877		E.ON AG.		4,305
	8,282		Evonik Industries AG.		226
	3,683		Fraport AG. Frankfurt Airport Services Worldwide		282
	58,220		Fresenius Medical Care AG.		4,705
	53,938		Fresenius SE		3,015
	6,484		Fuchs Petrolub AG. (Preference)		268

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	16,434		GEA Group AG.	$	431
	9,277		Grand City Properties S.A.		224
	5,552		Hannover Rueckversicherung AG.		798
	13,536		HeidelbergCement AG.		976
	10,360		Henkel KGaA		986
	16,807		Henkel KGaA (Preference)		1,717
	1,147		Hochtief AG.		166
	3,078		Hugo Boss AG.		210
	502,785		Infineon Technologies AG.		9,981
	1,273	g	Innogy SE		59
	5,694	*	Innogy SE		244
	7,882		K&S AG.		145
	3,565		KION Group AG.		187
	8,454		Lanxess AG.		452
	5,798		LEG Immobilien AG.		712
	1,501		MAN AG.		123
	12,153		Merck KGaA		1,387
	502	*	Metro AG.		3
	15,957		Metro Wholesale & Food Specialist AG.		265
	2,508		MTU Aero Engines Holding AG.		568
	15,151		Muenchener Rueckver AG.		3,591
	9,337		Osram Licht AG.		322
	464,504	*	Paion AG.		1,144
	14,363		Porsche AG.		901
	21,749		ProSiebenSat. Media AG.		310
	696	*	Puma AG. Rudolf Dassler Sport		404
	469,399		RWE AG.		12,604
	89,785		SAP AG.		10,380
	1,716		Sartorius AG.		295
	73,340		Siemens AG.		7,887
	7,242	g	Siemens Healthineers AG.		302
	5,913		Symrise AG.		533
	11,596		TAG Tegernsee Immobilien und Beteiligungs AG.		286
	36,427		Telefonica Deutschland Holding AG.		114
	41,338		ThyssenKrupp AG.		569
	5,798		TLG Immobilien AG.		175
	22,701		TUI AG. (DI)		218
	18,933		Uniper SE		571
	11,940		United Internet AG.		437
	8,664		Volkswagen AG.		1,412
	10,598		Volkswagen AG. (Preference)		1,671
	79,881		Wirecard AG.		10,035
	5,620	*,g	Zalando SE		219
			TOTAL GERMANY		208,818
GHANA - 0.0%
	63,043	*	Tullow Oil plc		198
			TOTAL GHANA		198
GREECE - 0.0%
	154,328	*	Alpha Bank AE		214
	5,760	*,†	Hellenic Duty Free Shops S.A.		0	^
	26,127		Hellenic Telecommunications Organization S.A.		350

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	11,700		JUMBO S.A.	$	196
	8,363		Motor Oil Hellas Corinth Refineries S.A.		194
	23,903		OPAP S.A.		247
	4,409		Titan Cement Co S.A.		96
			TOTAL GREECE		1,297
HONG KONG - 1.1%
	3,470,158		AIA Group Ltd		34,701
	1,530,000	*	Alibaba Pictures Group Ltd		271
	15,318		ASM Pacific Technology		171
	182,727	e	Bank of East Asia Ltd		594
	177,853		BOC Hong Kong Holdings Ltd		738
	99,000		Cathay Pacific Airways Ltd		173
	72,000	*,†,e	China Ding Yi Feng Holdings Ltd		159
	338,000	*	China First Capital Group Ltd		179
	190,600		China Gas Holdings Ltd		671
	272,000		China Resources Cement Holdings Ltd		282
	125,625		CK Asset Holdings Ltd		1,119
	130,543		CK Hutchison Holdings Ltd		1,373
	63,953		CK Infrastructure Holdings Ltd		525
	228,454		CLP Holdings Ltd		2,650
	16,400		Dairy Farm International Holdings Ltd		138
	752,500	e	Fullshare Holdings Ltd		101
	134,000	*	Haier Electronics Group Co Ltd		390
	40,000		Hang Lung Group Ltd		129
	400,576		Hang Lung Properties Ltd		978
	100,972		Hang Seng Bank Ltd		2,493
	202,257		Henderson Land Development Co Ltd		1,287
	125,000	e	HK Electric Investments & HK Electric Investments Ltd		128
	180,660		HKT Trust and HKT Ltd		290
	1,230,528		Hong Kong & China Gas Ltd		2,951
	176,988		Hong Kong Electric Holdings Ltd		1,228
	143,807		Hong Kong Exchanges and Clearing Ltd		5,024
	1,887,485		Hongkong Land Holdings Ltd		13,434
	4,760		Hopewell Highway Infrastructure Ltd		3
	89,760		Hysan Development Co Ltd		481
	10,600		Jardine Matheson Holdings Ltd		662
	10,600		Jardine Strategic Holdings Ltd		398
	109,526		Kerry Properties Ltd		490
	123,500		Kingboard Laminates Holdings Ltd		130
	174,000		Lee & Man Paper Manufacturing Ltd		148
	189,026		Link REIT		2,213
	5,515,995		Melco Crown Entertainment Ltd (ADR)		124,606
	73,080		MTR Corp		453
	866,492		New World Development Co Ltd		1,438
	188,000		Nine Dragons Paper Holdings Ltd		179
	76,638		NWS Holdings Ltd		168
	207,262		PCCW Ltd		129
	9,301,992		Shangri-La Asia Ltd		13,224
	1,804,000		Sino Biopharmaceutical		1,649
	163,043		Sino Land Co		316
	97,611		SJM Holdings Ltd		112
	192,000		SSY Group Ltd		179

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	258,500		Sun Art Retail Group Ltd	$	252
	192,968		Sun Hung Kai Properties Ltd		3,317
	23,628		Swire Pacific Ltd (Class A)		304
	418,816		Swire Properties Ltd		1,803
	65,902		Techtronic Industries Co		444
	131,000		Towngas China Co Ltd		103
	423,500	g	WH Group Ltd		453
	159,053		Wharf Holdings Ltd		481
	159,053		Wharf Real Estate Investment Co Ltd		1,185
	39,334		Wheelock & Co Ltd		289
	34,912		Yue Yuen Industrial Holdings		120
			TOTAL HONG KONG		227,906
HUNGARY - 0.0%
	43,091		MOL Hungarian Oil & Gas plc		494
	21,233		OTP Bank		936
	14,768		Richter Gedeon Rt		279
			TOTAL HUNGARY		1,709
INDIA - 1.6%
	59,723		Ambuja Cements Ltd		203
	121,268		Ashok Leyland Ltd		160
	30,476		Asian Paints Ltd		656
	30,346		Aurobindo Pharma Ltd		343
	13,147	*,g	Avenue Supermarts Ltd		279
	198,945	*	Axis Bank Ltd		2,229
	18,330		Bajaj Finance Ltd		800
	3,981		Bajaj Finserv Ltd		404
	8,481		Bajaj Holdings and Investment Ltd		356
	20,356		Bharat Forge Ltd		151
	86,332		Bharat Petroleum Corp Ltd		496
	147,129		Bharti Airtel Ltd		707
	34,614		Bharti Infratel Ltd		157
	710	*	Bosch Ltd		186
	5,970		Britannia Industries Ltd		266
	28,277		Cadila Healthcare Ltd		142
	40,536	*	Cipla Ltd		309
	90,508		Coal India Ltd		310
	439,646	*	Container Corp Of India Ltd		3,333
	52,198		Dabur India Ltd		308
	9,147		Divi S Laboratories Ltd		225
	12,777		Dr Reddy’s Laboratories Ltd		514
	1,374		Eicher Motors Ltd		407
	83,898	*	GAIL India Ltd		421
	18,309		Glenmark Pharmaceuticals Ltd		171
	35,547		Godrej Consumer Products Ltd		352
	33,781	*	Grasim Industries Ltd		418
	26,126	*	Havells India Ltd		292
	57,852		HCL Technologies Ltd		909
	5,012		Hero Honda Motors Ltd		185
	121,015		Hindalco Industries Ltd		359
	67,130		Hindustan Lever Ltd		1,653
	74,156		Hindustan Petroleum Corp Ltd		305

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	170,855		Housing Development Finance Corp	$	4,853
	624,030		ICICI Bank Ltd		3,605
	227,245	*	Idea Cellular Ltd		60
	4,018,914		Indiabulls Housing Finance Ltd		49,722
	218,026		Indian Oil Corp Ltd		514
	920,188		Infosys Technologies Ltd		9,875
	9,109	g	InterGlobe Aviation Ltd		188
	904,152		ITC Ltd		3,878
	91,043		JSW Steel Ltd		385
	49,989		Larsen & Toubro Ltd		1,000
	29,348		LIC Housing Finance Ltd		225
	25,629	*	Lupin Ltd		273
	31,019	*	Mahindra & Mahindra Financial Services Ltd		189
	76,486		Mahindra & Mahindra Ltd		744
	42,183		Marico Ltd		211
	27,604		Maruti Suzuki India Ltd		2,657
	94,936		Motherson Sumi Systems Ltd		205
	258,442	*	Multi Commodity Exchange of India Ltd		3,006
	56,676	*	Mundra Port and Special Economic Zone Ltd		309
	2,397		Nestle India Ltd		379
	251,583		NTPC Ltd		489
	557		Page Industries Ltd		201
	80,304		Petronet LNG Ltd		292
	13,052		Pidilite Industries Ltd		235
	9,255		Piramal Healthcare Ltd		369
	192,810		Power Grid Corp of India Ltd		551
	202,943	*	Puravankara Projects Ltd		216
	1,024,383		Reliance Industries Ltd		20,160
	66,506		Rural Electrification Corp Ltd		147
	135,677	*	Sesa Sterlite Ltd		361
	856		Shree Cement Ltd		231
	1,898,108		Shriram Transport Finance Co Ltd		34,998
	186,197	*	State Bank of India		861
	92,101		Sun Pharmaceutical Industries Ltd		637
	268,759	*	Tata Chemicals Ltd		2,285
	94,785		Tata Consultancy Services Ltd		2,739
	161,949	*	Tata Motors Ltd		408
	111,242		Tata Power Co Ltd		119
	36,861		Tata Steel Ltd		277
	50,416	*	Tech Mahindra Ltd		565
	32,436		Titan Industries Ltd		535
	10,034	*	Ultra Tech Cement Ltd		579
	37,156	*	United Phosphorus Ltd		514
	30,330	*	United Spirits Ltd		242
	169,235		Wipro Ltd		623
	38,876,905		Yes Bank Ltd		154,069
	50,556		ZEE Telefilms Ltd		325
			TOTAL INDIA		323,312
INDONESIA - 0.2%
	1,991,800		Adaro Energy Tbk		189
	39,466,600		Bank Rakyat Indonesia		11,460
	252,400		Indofood CBP Sukses Makmur Tbk		166

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	150,500		Pabrik Kertas Tjiwi Kimia Tbk PT	$	117
	5,289,700		PT Astra International Tbk		2,716
	2,616,100		PT Bank Central Asia Tbk		5,105
	301,000		PT Bank Danamon Indonesia Tbk		197
	34,878,612		PT Bank Mandiri Persero Tbk		18,302
	783,100		PT Bank Negara Indonesia		518
	425,700		PT Bank Tabungan Negara Tbk		73
	710,400	*	PT Bumi Serpong Damai		70
	766,400		PT Charoen Pokphand Indonesia Tbk		345
	50,300		PT Gudang Garam Tbk		294
	1,020,400		PT Hanjaya Mandala Sampoerna Tbk		269
	281,300		PT Indah Kiat Pulp and Paper Corp Tbk		170
	189,300		PT Indocement Tunggal Prakarsa Tbk		292
	458,300		PT Indofood Sukses Makmur Tbk		205
	249,500		PT Jasa Marga Tbk		105
	2,625,900		PT Kalbe Farma Tbk		280
	1,675,500		PT Pakuwon Jati Tbk		81
	1,230,800		PT Perusahaan Gas Negara Persero Tbk		204
	304,500		PT Semen Gresik Persero Tbk		299
	604,800		PT Surya Citra Media Tbk		70
	432,000		PT Tambang Batubara Bukit Asam Tbk		128
	13,228,600		PT Telekomunikasi Indonesia Persero Tbk		3,656
	154,800		PT Unilever Indonesia Tbk		536
	198,600		PT United Tractors Tbk		378
	191,700		Tower Bersama Infrastructure		53
			TOTAL INDONESIA		46,278
IRELAND - 0.4%
	5,998	*	AerCap Holdings NV		279
	325,818		AIB Group plc		1,466
	931,633		Bank of Ireland Group plc		5,560
	436,832		CRH plc		13,540
	2,302,262		Green REIT plc		3,874
	6,039,827		Hibernia REIT plc		9,052
	147,992	*,†	Irish Bank Resolution Corp Ltd		0
	20,895		James Hardie Industries NV		270
	107,093		Kerry Group plc (Class A)		11,953
	577,276	e	Keywords Studios plc		8,708
	7,295		Kingspan Group plc		338
	3,890	*	Paddy Power plc		300
	4,346	*	Ryanair Holdings plc		57
	631	*	Ryanair Holdings plc (ADR)		47
	876,061		Smurfit Kappa Group plc		24,485
			TOTAL IRELAND		79,929
ISRAEL - 0.1%
	2,214		Azrieli Group		131
	192,693		Bank Hapoalim Ltd		1,281
	250,122		Bank Leumi Le-Israel		1,639
	105,831		Bezeq Israeli Telecommunication Corp Ltd		76
	6,028	*	Check Point Software Technologies		763
	13		Delek Group Ltd		2
	1,175		Elbit Systems Ltd		152

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	35,128		Israel Chemicals Ltd	$	184
	6		Israel Corp Ltd		1
	31,728		Mizrahi Tefahot Bank Ltd		654
	6,020	*	Nice Systems Ltd		735
	1,301,975	*	Teva Pharmaceutical Industries Ltd (ADR)		20,415
	14	*	Tower Semiconductor Ltd		0	^
	2,039	*	Wix.com Ltd		246
			TOTAL ISRAEL		26,279
ITALY - 1.0%
	439,600		Amplifon S.p.A.		8,579
	110,231		Assicurazioni Generali S.p.A.		2,044
	42,826		Autostrade S.p.A.		1,111
	2,502,117		Banca Intesa S.p.A.		6,107
	74	*	Banca Monte dei Paschi di Siena S.p.A		0	^
	46,084	e	Banche Popolari Unite Scpa		122
	2,582	*,e	Banco BPM S.p.A		5
	1,932,397		Davide Campari-Milano S.p.A		18,985
	1,447,464		Enel S.p.A.		9,275
	239,733		ENI S.p.A.		4,236
	274,476		Ferrari NV		36,875
	36,977		Finmeccanica S.p.A.		431
	2,621	e	Fondiaria-Sai S.p.A		7
	18,512		Italgas S.p.A		114
	735,890		Mediobanca S.p.A.		7,662
	553,138		Moncler S.p.A		22,324
	20,047	*,g	Pirelli & C S.p.A		129
	25,963	g	Poste Italiane S.p.A		253
	27,255,851	e	Prada S.p.A		81,248
	21,536		Prysmian S.p.A.		408
	185	*	RCS MediaGroup S.p.A.		0	^
	5,036		Recordati S.p.A.		196
	27,879	*	Saipem S.p.A		148
	201,380		Snam Rete Gas S.p.A.		1,036
	567,934		Telecom Italia RSP		323
	997,184	*,e	Telecom Italia S.p.A.		621
	136,282		Terna Rete Elettrica Nazionale S.p.A.		865
	173,354		UniCredit S.p.A.		2,227
			TOTAL ITALY		205,331
JAPAN - 6.5%
	1,510		ABC-Mart, Inc		90
	19,100	e	Acom Co Ltd		68
	121		Activia Properties Inc		503
	57,546		Aeon Co Ltd		1,205
	5,652		AEON Financial Service Co Ltd		115
	4,497		Aeon Mall Co Ltd		74
	20,072		Air Water, Inc		292
	160,890		Aisin Seiki Co Ltd		5,760
	65,568		Ajinomoto Co, Inc		1,050
	30,105		Alfresa Holdings Corp		858
	9,750		All Nippon Airways Co Ltd		358
	10,132		Alps Electric Co Ltd		212

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	16,744		Amada Co Ltd	$	166
	5,784	e	Aozora Bank Ltd		143
	36,851		Asahi Breweries Ltd		1,645
	20,601		Asahi Glass Co Ltd		724
	4,600	*	Asahi Intecc Co Ltd		217
	245,925		Asahi Kasei Corp		2,547
	39,500		Ashikaga Holdings Co Ltd		101
	7,100	e	Asics Corp		96
	492,600		Astellas Pharma, Inc		7,402
	141,021	e	Bank of Kyoto Ltd		5,905
	253,200		Benefit One, Inc		4,980
	3,453		Benesse Holdings Inc		90
	222		BLife Investment Corp		492
	58,930		Bridgestone Corp		2,271
	11,285		Brother Industries Ltd		210
	3,900	e	Calbee, Inc		105
	101,377		Canon, Inc		2,943
	9,233	e	Casio Computer Co Ltd		121
	44,281		Central Japan Railway Co		10,293
	2,100		Century Leasing System, Inc		92
	30,462		Chiba Bank Ltd		166
	129,006		Chubu Electric Power Co, Inc		2,017
	55,469		Chugai Pharmaceutical Co Ltd		3,821
	13,366	e	Chugoku Electric Power Co, Inc		167
	6,500		Coca-Cola West Japan Co Ltd		165
	51,600	e	Concordia Financial Group Ltd		199
	7,068	e	Credit Saison Co Ltd		93
	288,100	e	CyberAgent, Inc		11,789
	33,738		Dai Nippon Printing Co Ltd		808
	12,546	e	Daicel Chemical Industries Ltd		137
	4,900	e	Daifuku Co Ltd		256
	1,320,111		Dai-ichi Mutual Life Insurance Co		18,378
	287,794		Daiichi Sankyo Co Ltd		13,290
	94,755		Daikin Industries Ltd		11,138
	11,149		Daito Trust Construction Co Ltd		1,555
	53,856		Daiwa House Industry Co Ltd		1,715
	152,480		Daiwa Securities Group, Inc		743
	5,400		Dena Co Ltd		81
	43,087		Denso Corp		1,683
	22,455		Dentsu, Inc		950
	1,400	e	Disco Corp		200
	14,433		Don Quijote Co Ltd		956
	182,797		East Japan Railway Co		17,652
	25,528		Eisai Co Ltd		1,436
	6,893		Electric Power Development Co		168
	169,500	e	en-japan, Inc		4,952
	29,876		FamilyMart Co Ltd		762
	19,685		Fanuc Ltd		3,366
	7,283		Fast Retailing Co Ltd		3,430
	5,764		Fuji Electric Holdings Co Ltd		164
	56,239		Fuji Heavy Industries Ltd		1,284
	40,686		Fujifilm Holdings Corp		1,853
	19,799		Fujitsu Ltd		1,432

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	8,046		Fukuoka Financial Group, Inc	$	179
	20		GLP J-Reit		21
	215,100		GMO Payment Gateway, Inc		15,340
	2,400		Growell Holdings Co Ltd		82
	11,800		Hakuhodo DY Holdings, Inc		190
	6,800		Hamamatsu Photonics KK		264
	23,093		Hankyu Hanshin Holdings, Inc		867
	932		Hikari Tsushin, Inc		177
	12,182		Hino Motors Ltd		103
	4,473		Hirose Electric Co Ltd		471
	9,175		Hisamitsu Pharmaceutical Co, Inc		423
	13,885	e	Hitachi Chemical Co Ltd		309
	5,333	e	Hitachi Construction Machinery Co Ltd		142
	3,200		Hitachi High-Technologies Corp		131
	853,158		Hitachi Ltd		27,720
	27,585		Hitachi Metals Ltd		321
	155,396		Honda Motor Co Ltd		4,221
	2,612		Hoshizaki Electric Co Ltd		162
	39,027		Hoya Corp		2,585
	77,428		Hulic Co Ltd		761
	18,229	e	Idemitsu Kosan Co Ltd		610
	7,129		Iida Group Holdings Co Ltd		129
	4,924,400	e	Infomart Corp		60,211
	170,883		Inpex Holdings, Inc		1,626
	17,373		Invincible Investment Corp		8,501
	15,981		Isetan Mitsukoshi Holdings Ltd		162
	338,422		Ishikawajima-Harima Heavy Industries Co Ltd		8,153
	54,600		Isuzu Motors Ltd		719
	136,569		Itochu Corp		2,475
	11,195		J Front Retailing Co Ltd		133
	5,624		Japan Airlines Co Ltd		198
	2,303	e	Japan Airport Terminal Co Ltd		98
	449,100		Japan Elevator Service Holdings Co Ltd		9,155
	12,351		Japan Hotel REIT Investment Corp		9,957
	19,546	e	Japan Post Bank Co Ltd		214
	76,140		Japan Post Holdings Co Ltd		891
	40		Japan Prime Realty Investment Corp		165
	63		Japan Real Estate Investment Corp		371
	1,023		Japan Retail Fund Investment Corp		2,056
	193,263		Japan Tobacco, Inc		4,787
	91,023		JFE Holdings, Inc		1,549
	38,978		JGC Corp		520
	25,958		JSR Corp		404
	9,203		JTEKT Corp		114
	599,788		JX Holdings, Inc		2,738
	51,386		Kajima Corp		760
	6,934		Kakaku.com, Inc		134
	332,000	e	Kamakura Shinsho Ltd		4,288
	4,885		Kamigumi Co Ltd		113
	7,125		Kaneka Corp		267
	200,635		Kansai Electric Power Co, Inc		2,959
	56,214		Kansai Paint Co Ltd		1,075
	91,085		Kao Corp		7,189

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	6,451		Kawasaki Heavy Industries Ltd	$	160
	165,297		KDDI Corp		3,560
	4,600		Keihan Electric Railway Co Ltd		194
	10,860		Keihin Electric Express Railway Co Ltd		184
	13,823	e	Keio Corp		894
	21,113		Keisei Electric Railway Co Ltd		768
	28		Kenedix Realty Investment Corp		194
	225,300		Kenedix, Inc		1,130
	7,638		Keyence Corp		4,775
	7,195		Kikkoman Corp		354
	17,149		Kintetsu Corp		800
	77,049		Kirin Brewery Co Ltd		1,843
	2,300		Kobayashi Pharmaceutical Co Ltd		195
	41,801	e	Kobe Steel Ltd		314
	11,100		Koito Manufacturing Co Ltd		631
	90,350		Komatsu Ltd		2,107
	4,486		Konami Corp		195
	21,620		Konica Minolta Holdings, Inc		213
	1,428		Kose Corp		263
	107,198		Kubota Corp		1,558
	46,974		Kuraray Co Ltd		599
	4,477		Kurita Water Industries Ltd		115
	31,800		Kyocera Corp		1,872
	53,689		Kyowa Hakko Kogyo Co Ltd		1,172
	37,277		Kyushu Electric Power Co, Inc		440
	7,800	e	Kyushu Railway Co		257
	2,280		Lawson, Inc		126
	3,500	*,e	LINE Corp		123
	10,800		Lion Corp		228
	12,864		LIXIL Group Corp		172
	20,676		M3, Inc		348
	25,488		Makita Corp		891
	151,965		Marubeni Corp		1,054
	9,109	e	Marui Co Ltd		184
	7,796		Maruichi Steel Tube Ltd		227
	27,515		Mazda Motor Corp		308
	3,300		McDonald’s Holdings Co Japan Ltd		153
	8,059		Mediceo Paltac Holdings Co Ltd		192
	14,708		MEIJI Holdings Co Ltd		1,196
	18,500		Minebea Co Ltd		279
	5,500		Miraca Holdings, Inc		137
	13,800	e	MISUMI Group, Inc		345
	249,762		Mitsubishi Chemical Holdings Corp		1,764
	130,222		Mitsubishi Corp		3,626
	191,414		Mitsubishi Electric Corp		2,470
	163,296		Mitsubishi Estate Co Ltd		2,963
	23,380	e	Mitsubishi Gas Chemical Co, Inc		335
	29,511		Mitsubishi Heavy Industries Ltd		1,228
	14,711		Mitsubishi Materials Corp		389
	32,608		Mitsubishi Motors Corp		174
	12,452,662		Mitsubishi UFJ Financial Group, Inc		61,588
	18,700		Mitsubishi UFJ Lease & Finance Co Ltd		95
	161,382		Mitsui & Co Ltd		2,511

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	25,128		Mitsui Chemicals, Inc	$	609
	179,806		Mitsui Fudosan Co Ltd		4,530
	5,249		Mitsui OSK Lines Ltd		113
	46,542		Mitsui Sumitomo Insurance Group Holdings, Inc		1,418
	32,118		Mitsui Trust Holdings, Inc		1,154
	2,225,456		Mizuho Financial Group, Inc		3,444
	1,423,400		MonotaRO Co Ltd		31,820
	117		Mori Hills REIT Investment Corp		157
	572,505		Murata Manufacturing Co Ltd		28,651
	5,239		Nabtesco Corp		154
	8,800		Nagoya Railroad Co Ltd		244
	18,506		Namco Bandai Holdings, Inc		869
	25,961		NEC Corp		880
	21,600	*	Nexon Co Ltd		340
	41,724		NGK Insulators Ltd		608
	7,348		NGK Spark Plug Co Ltd		137
	22,617		Nidec Corp		2,880
	15,681	e	Nikon Corp		222
	275,003		Nintendo Co Ltd		78,841
	123		Nippon Building Fund, Inc		833
	4,062		Nippon Electric Glass Co Ltd		108
	9,544		Nippon Express Co Ltd		532
	19,172	e	Nippon Meat Packers, Inc		691
	50,526	e	Nippon Paint Co Ltd		1,994
	81		Nippon ProLogis REIT, Inc		172
	1,440		NIPPON REIT Investment Corp		5,550
	140,001		Nippon Steel Corp		2,478
	285,392		Nippon Telegraph & Telephone Corp		12,167
	7,076	e	Nippon Yusen Kabushiki Kaisha		104
	16,739		Nissan Chemical Industries Ltd		769
	225,627	e	Nissan Motor Co Ltd		1,853
	9,431		Nisshin Seifun Group, Inc		217
	3,045		Nissin Food Products Co Ltd		209
	6,713		Nitori Co Ltd		868
	31,037		Nitto Denko Corp		1,636
	32,038		NKSJ Holdings, Inc		1,186
	337,080		Nomura Holdings, Inc		1,218
	5,574		Nomura Real Estate Holdings, Inc		107
	504		Nomura Real Estate Master Fund, Inc		742
	5,500		Nomura Research Institute Ltd		250
	17,035		NSK Ltd		160
	67,300		NTT Data Corp		744
	133,686		NTT DoCoMo, Inc		2,963
	75,596		Obayashi Corp		762
	3,200		Obic Co Ltd		324
	35,946		Odakyu Electric Railway Co Ltd		872
	115,294		OJI Paper Co Ltd		717
	3,768,572		Olympus Corp		40,999
	76,555	e	Omron Corp		3,597
	40,468		Ono Pharmaceutical Co Ltd		795
	1,803		Oracle Corp Japan		121
	21,431		Oriental Land Co Ltd		2,437
	914,228		ORIX Corp		13,135

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	216		Orix JREIT, Inc	$	371
	39,121		Osaka Gas Co Ltd		773
	50,822		Osaka Securities Exchange Co Ltd		907
	4,822	*	Otsuka Corp		180
	36,600		Otsuka Holdings KK		1,441
	311,100		Paltac Corp		16,967
	404,355		Panasonic Corp		3,486
	5,600		Park24 Co Ltd		122
	5,400		Pigeon Corp		222
	4,210	*	Pola Orbis Holdings, Inc		135
	42,300		Rakuten, Inc		401
	331,553		Recruit Holdings Co Ltd		9,506
	40,100	*	Renesas Electronics Corp		186
	204,342		Resona Holdings, Inc		885
	66,182		Ricoh Co Ltd		693
	1,412		Rinnai Corp		100
	299,035		Rohm Co Ltd		18,736
	1,144		Ryohin Keikaku Co Ltd		290
	2,180		Sankyo Co Ltd		83
	53,753		Santen Pharmaceutical Co Ltd		803
	11,291	e	SBI Holdings, Inc		252
	20,467		Secom Co Ltd		1,755
	8,252		Sega Sammy Holdings, Inc		97
	10,800		Seibu Holdings, Inc		189
	13,900	e	Seiko Epson Corp		213
	70,000		Seino Holdings Corp		935
	18,095		Sekisui Chemical Co Ltd		292
	112,620		Sekisui House Ltd		1,866
	214,300		Seria Co Ltd		7,394
	70,286		Seven & I Holdings Co Ltd		2,652
	28,100		Seven Bank Ltd		83
	4,700		SG Holdings Co Ltd		137
	9,599	e	Sharp Corp		106
	247,899	*	SHIFT, Inc		9,967
	40,247		Shimadzu Corp		1,168
	1,027		Shimamura Co Ltd		87
	7,992		Shimano, Inc		1,301
	70,462		Shimizu Corp		614
	153,300		Shin-Etsu Chemical Co Ltd		12,900
	7,477		Shinsei Bank Ltd		106
	26,690		Shionogi & Co Ltd		1,657
	34,593		Shiseido Co Ltd		2,505
	66,001		Shizuoka Bank Ltd		503
	6,500		Showa Denko KK		230
	25,722	*	Showa Shell Sekiyu KK		859
	7,163		SMC Corp		2,700
	525,000		SMS Co Ltd		9,513
	80,900	*,e	Softbank Corp		911
	220,266		Softbank Group Corp		21,471
	3,500		Sohgo Security Services Co Ltd		153
	2,873,340		Sony Corp		121,316
	147,028		Sony Financial Holdings, Inc		2,775
	6,514		Stanley Electric Co Ltd		176

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	672		Star Asia Investment Corp	$	663
	9,800		Start Today Co Ltd		185
	11,335		Sumco Corp		127
	299,483		Sumitomo Chemical Co Ltd		1,398
	108,165		Sumitomo Corp		1,500
	7,763		Sumitomo Dainippon Pharma Co Ltd		193
	70,047		Sumitomo Electric Industries Ltd		932
	199,525		Sumitomo Heavy Industries Ltd		6,484
	54,715		Sumitomo Metal Mining Co Ltd		1,621
	1,263,791		Sumitomo Mitsui Financial Group, Inc		44,256
	67,216		Sumitomo Realty & Development Co Ltd		2,789
	7,463		Sumitomo Rubber Industries, Inc		90
	3,400		Sundrug Co Ltd		94
	6,800		Suntory Beverage & Food Ltd		320
	3,707		Suzuken Co Ltd		215
	34,334		Suzuki Motor Corp		1,522
	30,571		Sysmex Corp		1,852
	26,895		T&D Holdings, Inc		283
	5,900		Taiheiyo Cement Corp		197
	19,193		Taisei Corp		893
	5,356		Taisho Pharmaceutical Holdings Co Ltd		512
	45,867		Taiyo Nippon Sanso Corp		700
	6,658		Takashimaya Co Ltd		89
	2,160,411		Takeda Pharmaceutical Co Ltd		88,474
	233,014		Takeda Pharmaceutical Co Ltd (ADR)		4,746
	11,794		Tanabe Seiyaku Co Ltd		158
	13,656		TDK Corp		1,075
	222,600		TechnoPro Holdings, Inc		13,337
	24,886		Teijin Ltd		411
	8,602		Temp Holdings Co Ltd		140
	58,892		Terumo Corp		1,802
	5,294		THK Co Ltd		131
	9,534		Tobu Railway Co Ltd		276
	5,475		Toho Co Ltd		220
	3,600		Toho Gas Co Ltd		162
	20,713		Tohoku Electric Power Co, Inc		264
	381,264		Tokio Marine Holdings, Inc		18,471
	616,800	*	Tokyo Base Co Ltd		5,410
	276,025	*	Tokyo Electric Power Co, Inc		1,746
	16,316		Tokyo Electron Ltd		2,367
	114,032		Tokyo Gas Co Ltd		3,087
	32,900		Tokyo Tatemono Co Ltd		404
	53,929		Tokyu Corp		943
	836,100		Tokyu Fudosan Holdings Corp		5,010
	34,367		Toppan Printing Co Ltd		520
	268,245		Toray Industries, Inc		1,712
	50,655		Toshiba Corp		1,615
	38,220		Tosoh Corp		596
	21,442	e	Toto Ltd		912
	21,839		Toyo Seikan Kaisha Ltd		448
	4,099		Toyo Suisan Kaisha Ltd		156
	2,697		Toyoda Gosei Co Ltd		57

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	16,093		Toyota Industries Corp	$	809
	1,675,853		Toyota Motor Corp		98,726
	10,594		Toyota Tsusho Corp		346
	5,628		Trend Micro, Inc		274
	1,800		Tsuruha Holdings, Inc		147
	33,407		Uni-Charm Corp		1,107
	333		United Urban Investment Corp		526
	10,630		USS Co Ltd		198
	120,307		West Japan Railway Co		9,065
	136,938	e	Yahoo! Japan Corp		336
	11,704		Yakult Honsha Co Ltd		821
	29,731	e	Yamada Denki Co Ltd		147
	10,006		Yamaguchi Financial Group, Inc		85
	13,808		Yamaha Corp		691
	13,591		Yamaha Motor Co Ltd		267
	31,255		Yamato Transport Co Ltd		809
	5,653	*	Yamazaki Baking Co Ltd		92
	11,624		Yaskawa Electric Corp		367
	10,910		Yokogawa Electric Corp		227
	5,600		Yokohama Rubber Co Ltd		104
	519,500	e	Yume No Machi Souzou Iinkai Co Ltd		7,486
			TOTAL JAPAN		1,318,763
KAZAKHSTAN - 0.0%
	649,526	*	KAZ Minerals plc		5,529
			TOTAL KAZAKHSTAN		5,529
KOREA, REPUBLIC OF - 1.3%
	8,550		Amorepacific Corp		1,423
	1,083		Amorepacific Corp (Preference)		102
	825		BGF retail Co Ltd		159
	28,652		BS Financial Group, Inc		169
	30,300	*	Cafe24 Corp		2,893
	77	*	Celltrion Healthcare Co Ltd		5
	302	*	Celltrion, Inc		48
	8,401		Cheil Communications, Inc		179
	20,398		Cheil Industries, Inc		1,926
	913		CJ CheilJedang Corp		260
	1,790		CJ Corp		197
	163	*	CJ Corp (Preference)		5
	1,181		CJ O Shopping Co Ltd		243
	3,076		Daelim Industrial Co		261
	20,093	*	Daewoo Engineering & Construction Co Ltd		90
	5,925		Daewoo International Corp		93
	43,577		Daewoo Securities Co Ltd		282
	4,136	*	Daewoo Shipbuilding & Marine Engineering Co Ltd		102
	19,533		DGB Financial Group Co Ltd		141
	5,485		Dongbu Insurance Co Ltd		332
	5,428		Doosan Bobcat, Inc		148
	2,283		E-Mart Co Ltd		346
	164,573		Fila Korea Ltd		11,319
	2,186		GLOVIS Co Ltd		248
	6,531		GS Engineering & Construction Corp		246

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	6,871		GS Holdings Corp	$	320
	2,927		GS Retail Co Ltd		101
	78,040		Hana Financial Group, Inc		2,506
	7,858		Hankook Tire Co Ltd		259
	764		Hanmi Pharm Co Ltd		307
	1,981		Hanmi Science Co Ltd		135
	19,805		Hanon Systems		198
	12,285		Hanwha Chemical Corp		227
	4,764		Hanwha Corp		128
	2,903	*	HDC Hyundai Development Co-Engineering & Construction		130
	3,589	*	HLB, Inc		254
	1,866		Honam Petrochemical Corp		479
	3,398		Hotel Shilla Co Ltd		286
	152,978		Hynix Semiconductor, Inc		10,030
	1,675		Hyundai Department Store Co Ltd		149
	8,372		Hyundai Engineering & Construction Co Ltd		395
	4,076	*	Hyundai Heavy Industries		428
	7,262		Hyundai Marine & Fire Insurance Co Ltd		243
	17,976		Hyundai Mobis		3,306
	38,828		Hyundai Motor Co		4,094
	3,985		Hyundai Motor Co Ltd (2nd Preference)		268
	2,565		Hyundai Motor Co Ltd (Preference)		157
	1,052	*	Hyundai Robotics Co Ltd		309
	9,003		Hyundai Steel Co		357
	27,786		Industrial Bank of Korea		344
	251,053	g	ING Life Insurance Korea Ltd		7,969
	5,544		Kakao Corp		507
	13,060		Kangwon Land, Inc		368
	104,457		KB Financial Group, Inc		3,865
	670		KCC Corp		188
	69,135		Kia Motors Corp		2,155
	7,947	*	Korea Aerospace Industries Ltd		248
	69,564		Korea Electric Power Corp		1,830
	1,018	*	Korea Express Co Ltd		149
	3,365	*	Korea Gas Corp		134
	4,575		Korea Investment Holdings Co Ltd		251
	2,042	*	Korea Kumho Petrochemical		172
	38,076		Korea Life Insurance Co Ltd		134
	1,002		Korea Zinc Co Ltd		411
	5,200		Korean Air Lines Co Ltd		146
	3,567		KT Corp		86
	31,193		KT&G Corp		2,844
	12,166		LG Chem Ltd		3,930
	994		LG Chem Ltd (Preference)		183
	25,181		LG Corp		1,720
	28,103		LG Electronics, Inc		1,863
	2,478		LG Household & Health Care Ltd		3,097
	245		LG Household & Health Care Ltd (Preference)		180
	1,644		LG Innotek Co Ltd		171
	12,415		LG Telecom Ltd		169
	24,907		LG.Philips LCD Co Ltd		429
	3,382	*	Lotte Corp		147

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,288		Lotte Shopping Co Ltd	$	202
	642		Medy-Tox, Inc		331
	36,999		Naver Corp		4,049
	1,904	*	NCsoft		832
	2,991	g	Netmarble Corp		330
	2,005		OCI Co Ltd		165
	2,475		Orion Corp/Republic of Korea		218
	154		Ottogi Corp		105
	3,216		Pacific Corp		198
	720	*	Pearl Abyss Corp		107
	20,241		POSCO		4,520
	2,647		POSCO Refractories & Environment Co Ltd		141
	1,977		S1 Corp (Korea)		175
	4,404	*,g	Samsung Biologics Co Ltd		1,243
	3,481		Samsung Card Co		105
	14,788		Samsung Electro-Mechanics Co Ltd		1,368
	3,492,229		Samsung Electronics Co Ltd		137,744
	223,003		Samsung Electronics Co Ltd (Preference)		7,141
	17,119	*	Samsung Engineering Co Ltd		244
	8,223		Samsung Fire & Marine Insurance Co Ltd		2,180
	47,605	*	Samsung Heavy Industries Co Ltd		347
	7,680		Samsung Life Insurance Co Ltd		569
	14,466		Samsung SDI Co Ltd		2,741
	9,234		Samsung SDS Co Ltd		1,916
	7,667		Samsung Securities Co Ltd		226
	112,648		Shinhan Financial Group Co Ltd		4,183
	809		Shinsegae Co Ltd		241
	6,926	*	SillaJen, Inc		394
	8,319		SK C&C Co Ltd		1,985
	18,353		SK Energy Co Ltd		2,903
	2,249		SK Telecom Co Ltd		498
	5,407		S-Oil Corp		427
	30,566	*	STX Pan Ocean Co Ltd		111
	1,677	*	ViroMed Co Ltd		415
	5,551		Woongjin Coway Co Ltd		462
	123,869		Woori Financial Group, Inc		1,500
	16,739		Woori Investment & Securities Co Ltd		199
	1,144		Yuhan Corp		242
			TOTAL KOREA, REPUBLIC OF		260,730
LUXEMBOURG - 0.0%
	31,970		ArcelorMittal		649
	547	e	Eurofins Scientific		227
	6,115		Millicom International Cellular S.A.		371
	15,947		Reinet Investments S.C.A		273
	2,121		RTL Group		116
	31,369		SES Global S.A.		488
	44,112		Tenaris S.A.		621
			TOTAL LUXEMBOURG		2,745
MACAU - 0.1%
	114,803	e	Galaxy Entertainment Group Ltd		782
	10,760,725	e	MGM China Holdings Ltd		22,566

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	115,533		Sands China Ltd	$	582
	74,983	*	Wynn Macau Ltd		177
			TOTAL MACAU		24,107
MALAYSIA - 0.1%
	136,700		AirAsia BHD		89
	88,700		Alliance Financial Group BHD		89
	160,200		AMMB Holdings BHD		179
	14,800		British American Tobacco Malaysia BHD		131
	513,552		Bumiputra-Commerce Holdings BHD		649
	424,100		Dialog Group BHD		329
	325,000		Digi.Com BHD		363
	14,100		Fraser & Neave Holdings BHD		120
	204,300		Gamuda BHD		145
	223,500		Genting BHD		364
	22,100		Genting Plantations BHD		57
	57,900		HAP Seng Consolidated BHD		140
	170,300		Hartalega Holdings BHD		193
	69,300		Hong Leong Bank BHD		345
	20,800		Hong Leong Credit BHD		98
	268,000		IHH Healthcare BHD		379
	297,400		IJM Corp BHD		162
	196,700		IOI Corp BHD		215
	129,700		IOI Properties Group BHD		42
	46,400		Kuala Lumpur Kepong BHD		282
	423,149		Malayan Banking BHD		962
	100,800		Malaysia Airports Holdings BHD		179
	238,900		Maxis BHD		314
	129,200		MISC BHD		212
	6,400		Nestle Malaysia BHD		230
	264,400		Petronas Chemicals Group BHD		594
	33,300		Petronas Dagangan BHD		204
	78,100		Petronas Gas BHD		338
	59,180		PPB Group BHD		266
	152,600		Press Metal BHD		169
	311,700		Public Bank BHD		1,770
	64,600		QL Resources BHD		109
	326,600		Resorts World BHD		257
	95,000		RHB Capital BHD		133
	245,000		Sime Darby BHD		134
	248,900		Sime Darby Plantation BHD		306
	300,800		Sime Darby Property BHD		82
	150,500		SP Setia BHD		84
	117,900		Telekom Malaysia BHD		93
	337,100		Tenaga Nasional BHD		1,047
	285,724		TM International BHD		291
	178,600		Top Glove Corp BHD		202
	108,600		Westports Holdings BHD		100
	322,800		YTL Corp BHD		84
			TOTAL MALAYSIA		12,531
MEXICO - 0.2%
	780,300		Alfa S.A. de C.V. (Class A)		829

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	55,600		Alsea SAB de C.V.	$	116
	3,528,000		America Movil S.A. de C.V. (Series L)		2,523
	474,285	e	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		648
	1,568,800	*,e	Cemex S.A. de C.V.		733
	54,800		Coca-Cola Femsa S.A. de C.V.		362
	20,500		El Puerto de Liverpool SAB de C.V.		130
	45,800		Embotelladoras Arca SAB de C.V.		255
	353,200		Fibra Uno Administracion S.A. de C.V.		488
	515,900		Fomento Economico Mexicano S.A. de C.V.		4,762
	21,654		Fresnillo plc		245
	22,470		Gruma SAB de C.V.		229
	38,400		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		341
	22,210		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		359
	171,000		Grupo Bimbo S.A. de C.V. (Series A)		358
	42,400	e	Grupo Carso S.A. de C.V. (Series A1)		167
	273,800		Grupo Financiero Banorte S.A. de C.V.		1,489
	8,206,527		Grupo Financiero Inbursa S.A.		11,369
	968,900		Grupo Mexico S.A. de C.V. (Series B)		2,664
	256,000	e	Grupo Televisa S.A.		567
	44,930		Industrias Penoles S.A. de C.V.		562
	61,700		Infraestructura Energetica ,NV SAB de C.V.		248
	143,900	*	Kimberly-Clark de Mexico S.A. de C.V. (Class A)		244
	34,100		Megacable Holdings SAB de C.V.		158
	110,200		Mexichem SAB de C.V.		263
	25,090		Promotora y Operadora de Infraestructura SAB de C.V.		249
	1,378,300		Wal-Mart de Mexico SAB de C.V.		3,687
			TOTAL MEXICO		34,045
MONGOLIA - 0.0%
	47,731	*	Turquoise Hill Resources Ltd		79
			TOTAL MONGOLIA		79
NETHERLANDS - 2.1%
	1,730,123	g	ABN AMRO Group NV (ADR)		39,005
	26,903	*,g	Adyen NV		21,101
	85,969		Aegon NV		413
	40,031		Akzo Nobel NV		3,556
	798	*,e	Altice NV (Class A)		2
	266	*	Altice NV (Class B)		1
	395,236		ASML Holding NV		74,285
	269		Boskalis Westminster		7
	29,071	*	Cimpress NV		2,329
	8,905		DSM NV		971
	4,058		Eurocommercial Properties NV		117
	183,778	g	Euronext NV		11,660
	9,633		EXOR NV		626
	192	*	Fugro NV		2
	5,552		Heineken Holding NV		557
	49,248		Heineken NV		5,205
	8,186,625		ING Groep NV		99,200
	8,000	*	InterXion Holding NV		534
	231,271		Koninklijke Ahold Delhaize NV		6,157

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	856,283	e	Koninklijke KPN NV	$	2,718
	478,498		Koninklijke Philips Electronics NV		19,550
	3,538		Koninklijke Vopak NV		169
	14,771		NN Group NV		615
	355,037		NXP Semiconductors NV		31,382
	254	*	OCI NV		7
	5,781	e	Randstad Holdings NV		282
	2,994,624		Royal Dutch Shell plc (A Shares)		94,109
	362,624		Royal Dutch Shell plc (B Shares)		11,461
	3,479	e	Wereldhave NV		95
	27,314		Wolters Kluwer NV		1,861
			TOTAL NETHERLANDS		427,977
NEW ZEALAND - 0.0%
	35,379	*	a2 Milk Co Ltd		346
	57,149		Air New Zealand Ltd		99
	90,895		Auckland International Airport Ltd		504
	1,120		Contact Energy Ltd		6
	27,580		Fisher & Paykel Healthcare Corp		295
	77,447	*	Fletcher Building Ltd		261
	92,739		Kiwi Property Group Ltd		94
	61,648		Meridian Energy Ltd		176
	35,240		Ryman Healthcare Ltd		294
	172,211		Telecom Corp of New Zealand Ltd		446
			TOTAL NEW ZEALAND		2,521
NORWAY - 0.6%
	1,026,006		Aker BP ASA		36,590
	457	*	Aker Solutions ASA		2
	952,534		DNB NOR Holding ASA		17,546
	19,516	e	Gjensidige Forsikring BA		337
	127,172		Norsk Hydro ASA		517
	76,756		Orkla ASA		589
	20,903		PAN Fish ASA		467
	4,913		Schibsted ASA (B Shares)		176
	2,518,423		Statoil ASA		55,204
	70,179		Telenor ASA		1,405
	348,900		TGS Nopec Geophysical Co ASA		9,529
	16,748		Yara International ASA		686
			TOTAL NORWAY		123,048
PAKISTAN - 0.0%
	46,500		Habib Bank Ltd		44
	19,200		MCB Bank Ltd		27
	101,200		Oil & Gas Development Co Ltd		106
			TOTAL PAKISTAN		177
PERU - 0.0%
	20,800		Cia de Minas Buenaventura S.A. (ADR) (Series B)		360
	16,800		Credicorp Ltd (NY)		4,031
	8,852		Southern Copper Corp (NY)		351
			TOTAL PERU		4,742

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
PHILIPPINES - 0.2%
	211,300		Aboitiz Equity Ventures, Inc	$	237
	159,100		Aboitiz Power Corp		107
	420,700		Alliance Global Group, Inc		130
	68,130		Ayala Corp		1,220
	2,003,300		Ayala Land, Inc		1,714
	532,920		Banco de Oro Universal Bank		1,360
	105,910		Bank of the Philippine Islands		170
	412,600		DMCI Holdings, Inc		94
	3,480		Globe Telecom, Inc		129
	10,199		GT Capital Holdings, Inc		181
	108,220		International Container Term Services, Inc		269
	301,680		JG Summit Holdings (Series B)		365
	49,520		Jollibee Foods Corp		299
	26,730		Manila Electric Co		194
	132,745,178		Megaworld Corp		14,664
	1,614,900		Metro Pacific Investments Corp		149
	183,146		Metropolitan Bank & Trust		279
	8,950		PLDT, Inc		196
	219,600		Robinsons Land Corp		103
	5,471,450		Robinsons Retail Holdings, Inc		8,232
	27,880		Security Bank Corp		92
	25,930		SM Investments Corp		462
	2,450,400		SM Prime Holdings		1,863
	98,560		Universal Robina		285
			TOTAL PHILIPPINES		32,794
POLAND - 0.0%
	8,836	*	Alior Bank S.A.		138
	802		Bank Handlowy w Warszawie S.A.		14
	54,656	*	Bank Millennium S.A.		127
	43,210		Bank Pekao S.A.		1,239
	3,619		Bank Zachodni WBK S.A.		359
	1,383		BRE Bank S.A.		153
	2,902		CCC S.A.		163
	7,182	*	CD Projekt Red S.A.		375
	25,727	*	Cyfrowy Polsat S.A.		172
	4,970	*,g	Dino Polska S.A.		157
	11,792		Grupa Lotos S.A.		256
	5,442	*	Jastrzebska Spolka Weglowa S.A.		87
	14,743	*	KGHM Polska Miedz S.A.		411
	134		LPP S.A.		291
	218,534		Polish Oil & Gas Co		356
	89,922	*	Polska Grupa Energetyczna S.A.		233
	87,192		Polski Koncern Naftowy Orlen S.A.		2,219
	238,040		Powszechna Kasa Oszczednosci Bank Polski S.A.		2,393
	156,574		Powszechny Zaklad Ubezpieczen S.A.		1,653
	56,663	*	Telekomunikacja Polska S.A.		76
			TOTAL POLAND		10,872
PORTUGAL - 0.1%
	23,456	*	Banco Comercial Portugues S.A.		6

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	229,579		Energias de Portugal S.A.	$	903
	41,735		Galp Energia SGPS S.A.		669
	814,944		Jeronimo Martins SGPS S.A.		12,033
			TOTAL PORTUGAL		13,611
QATAR - 0.0%
	21,057	*	Barwa Real Estate Co		212
	18,731	*	Commercial Bank of Qatar QSC		231
	82,245	*	Ezdan Holding Group QSC		224
	19,007	*	Industries Qatar QSC		648
	38,361	*	Masraf Al Rayan		387
	7,606	*	Ooredoo QSC		139
	5,329	*	Qatar Electricity & Water Co		252
	17,313	*	Qatar Insurance Co SAQ		174
	11,924	*	Qatar Islamic Bank SAQ		497
	47,575	*	Qatar National Bank		2,359
			TOTAL QATAR		5,123
ROMANIA - 0.0%
	38,862	*	NEPI Rockcastle plc		327
			TOTAL ROMANIA		327
RUSSIA - 0.5%
	1,478,664		Gazprom (ADR)		6,684
	122,617		LUKOIL PJSC (ADR)		10,963
	38,870		Magnit PJSC (GDR)		548
	175,665		MMC Norilsk Nickel PJSC (ADR)		3,693
	55,400	e	Mobile TeleSystems (ADR)		419
	25,530		Novatek PJSC (GDR)		4,376
	13,904		Novolipetsk Steel PJSC (GDR)		357
	14,499		PhosAgro PJSC (GDR)		182
	23,482		Polymetal International plc (ADR)		264
	6,597		Polyus PJSC (GDR)		271
	355,059	*	Rosneft Oil Co PJSC (GDR)		2,230
	687,758	*	Sberbank of Russia (ADR)		9,065
	24,689		Severstal (GDR)		385
	493,511		Surgutneftegaz (ADR) (London)		1,841
	69,800		Tatneft PJSC (ADR)		4,815
	187,235		VTB Bank (GDR)		214
	13,684		X5 Retail Group NV (GDR)		341
	1,501,850	*	Yandex NV		51,573
			TOTAL RUSSIA		98,221
SINGAPORE - 0.1%
	326,045		Ascendas REIT		701
	23,300	e,g	BOC Aviation Ltd		190
	322,846		CapitaCommercial Trust		462
	328,246		CapitaLand Ltd		886
	124,617		CapitaMall Trust		219
	60,700		City Developments Ltd		406
	104,548		ComfortDelgro Corp Ltd		199
	488,130		DBS Group Holdings Ltd		9,112
	300,092		Genting Singapore Ltd		231

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	322,065	e	Golden Agri-Resources Ltd	$	67
	4,566		Jardine Cycle & Carriage Ltd		110
	42		Kenon Holdings Ltd		1
	71,068		Keppel Corp Ltd		327
	546,735		Oversea-Chinese Banking Corp		4,470
	48,148		SembCorp Industries Ltd		91
	25,684		Singapore Airlines Ltd		183
	32,600		Singapore Airport Terminal Services Ltd		123
	317,643		Singapore Exchange Ltd		1,717
	78,825	e	Singapore Press Holdings Ltd		140
	75,007		Singapore Technologies Engineering Ltd		207
	39,800		Singapore Telecommunications Ltd		89
	1,062,791		Singapore Telecommunications Ltd		2,373
	308,600		Suntec Real Estate Investment Trust		445
	234,843		United Overseas Bank Ltd		4,382
	69,731		UOL Group Ltd		358
	13,200		Venture Corp Ltd		175
	88,862		Wilmar International Ltd		217
			TOTAL SINGAPORE		27,881
SOUTH AFRICA - 0.4%
	187,306	e	Absa Group Ltd		1,982
	5,894		Anglo American Platinum Ltd		301
	220,571	e	Anglo American plc (London)		5,899
	44,418	e	AngloGold Ashanti Ltd		584
	104,545		Aspen Pharmacare Holdings Ltd		675
	88,000		Bid Corp Ltd		1,819
	87,381		Bidvest Group Ltd		1,177
	4,237	e	Capitec Bank Holdings Ltd		396
	26,176		Clicks Group Ltd		334
	92,712	e	Discovery Holdings Ltd		882
	31,349		Exxaro Resources Ltd		357
	888,137	e	FirstRand Ltd		3,889
	76,884	e	Fortress REIT Ltd		57
	111,900		Fortress REIT Ltd (Class A)		142
	23,368		Foschini Ltd		265
	89,200	e	Gold Fields Ltd		329
	775,277		Growthpoint Properties Ltd		1,312
	25,799		Hyprop Investments Ltd		126
	29,533		Investec Ltd		173
	57,991		Investec plc		334
	6,785	e	Kumba Iron Ore Ltd		203
	10,791		Liberty Holdings Ltd		76
	154,646		Life Healthcare Group Holdings Pte Ltd		288
	82,825	*,e	Metropolitan Holdings Ltd		95
	12,202		Mondi Ltd		271
	26,943		Mr Price Group Ltd		354
	443,834	e	MTN Group Ltd		2,732
	116,429	*	MultiChoice Group Ltd		974
	115,039		Naspers Ltd (N Shares)		26,809
	83,570	e	Nedbank Group Ltd		1,461
	145,366		Network Healthcare Holdings Ltd		236
	224,680		Old Mutual Ltd (London)		331

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	37,794		Pick’n Pay Stores Ltd	$	174
	16,308		PSG Group Ltd		296
	61,337		Rand Merchant Investment Holdings Ltd		143
	557,784		Redefine Properties Ltd		375
	140,379		Remgro Ltd		1,807
	27,696		Resilient REIT Ltd		105
	183,840	e	RMB Holdings Ltd		970
	408,769	e	Sanlam Ltd		2,098
	53,411		Sappi Ltd		247
	146,512		Sasol Ltd		4,568
	116,377		Shoprite Holdings Ltd		1,282
	19,807		Spar Group Ltd		264
	340,236		Standard Bank Group Ltd		4,389
	27,551		Telkom S.A. Ltd		140
	16,843		Tiger Brands Ltd		310
	46,775		Truworths International Ltd		226
	161,148		Vodacom Group Pty Ltd		1,244
	102,644		Woolworths Holdings Ltd		331
			TOTAL SOUTH AFRICA		73,832
SPAIN - 0.4%
	21,755		ACS Actividades Construccion y Servicios S.A.		956
	3,312	g	Aena S.A.		597
	258,808		Amadeus IT Holding S.A.		20,743
	619,991	*	Banco Bilbao Vizcaya Argentaria S.A.		3,542
	480,251		Banco de Sabadell S.A.		479
	2,275,571		Banco Santander S.A.		10,567
	111,391		Bankia S.A.		289
	33,016		Bankinter S.A.		252
	260,170	*	CaixaBank S.A.		814
	93,018		Corp Mapfre S.A.		256
	2,042	e	Distribuidora Internacional de Alimentacion S.A.		1
	20,532		Enagas		598
	360,922		Endesa S.A.		9,211
	45,106		Ferrovial S.A.		1,057
	153,998		Gas Natural SDG S.A.		4,310
	28,024		Grifols S.A.		786
	843,990		Iberdrola S.A.		7,410
	224,538		Industria De Diseno Textil S.A.		6,602
	17,395		Inmobiliaria Colonial S.A.		179
	8,117		Lar Espana Real Estate Socimi S.A.		68
	108,528	*,†,e	Let’s GOWEX S.A.		1
	28,991		Merlin Properties Socimi S.A.		379
	74,431		Red Electrica Corp S.A.		1,587
	128,099		Repsol YPF S.A.		2,192
	234,807	*,e	Siemens Gamesa Renewable Energy		3,743
	1,008,149		Telefonica S.A.		8,445
	670		Zardoya Otis S.A.		5
			TOTAL SPAIN		85,069
SWEDEN - 0.5%
	13,957		Alfa Laval AB		321
	709,260		Assa Abloy AB		15,308

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	63,354		Atlas Copco AB (A Shares)	$	1,704
	18,821	e	Atlas Copco AB (B Shares)		467
	2,071	e	Autoliv, Inc		152
	387,038		Boliden AB		11,030
	11,596		Castellum AB		225
	11,651		Electrolux AB (Series B)		300
	18,822	*	Epiroc AB		180
	31,793	*	Epiroc AB (Class A)		321
	1,238,057		Ericsson (LM) (B Shares)		11,405
	56,168		Essity AB		1,621
	27,832		Fabege AB		405
	25,512	*	Fastighets AB Balder		818
	85,987		Hennes & Mauritz AB (B Shares)		1,435
	371,841		Hexagon AB (B Shares)		19,433
	20,476	e	Husqvarna AB (B Shares)		168
	4,062	e	ICA Gruppen AB		163
	8,637		Industrivarden AB		181
	467,783	e	Intrum Justitia AB		13,452
	11,544		Investment AB Kinnevik (B Shares)		299
	42,866		Investor AB (B Shares)		1,932
	23,193		Kungsleden AB		185
	3,953		Lundbergs AB (B Shares)		125
	8,922		Lundin Petroleum AB		302
	103,306		Sandvik AB		1,680
	13,582	*	SAS AB		27
	15,122		Securitas AB (B Shares)		245
	427,769	e	Skandinaviska Enskilda Banken AB (Class A)		3,706
	16,618	e	Skanska AB (B Shares)		302
	18,233	e	SKF AB (B Shares)		303
	142,075	*,e	Svenska Handelsbanken AB		1,500
	85,145	*,e	Swedbank AB (A Shares)		1,203
	8,437	e	Swedish Match AB		431
	23,784	e	Tele2 AB (B Shares)		317
	135,797		TeliaSonera AB		612
	146,202	e	Volvo AB (B Shares)		2,269
			TOTAL SWEDEN		94,527
SWITZERLAND - 3.5%
	368,729		ABB Ltd		6,930
	15,568		Adecco S.A.		831
	2,992	*	Aryzta AG.		4
	4,452		Baloise Holding AG.		736
	211		Barry Callebaut AG.		381
	95,091		Cie Financiere Richemont S.A.		6,937
	10,334	*	Clariant AG.		217
	9,714		Coca-Cola HBC AG.		331
	5,326,901		Credit Suisse Group		62,093
	1,644		Dufry Group		173
	767		EMS-Chemie Holding AG.		416
	3,526		Geberit AG.		1,442
	872	*	Givaudan S.A.		2,232
	2,118,680		Glencore Xstrata plc		8,780
	34,498		Holcim Ltd		1,706

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	318	*	Idorsia Ltd	$	6
	20,996		Julius Baer Group Ltd		849
	4,935		Kuehne & Nagel International AG.		677
	8,116		LafargeHolcim Ltd		401
	95		Lindt & Spruengli AG.		646
	20		Lindt & Spruengli AG. (Registered)		1,565
	343,815		Lonza Group AG.		106,740
	1,388,003		Nestle S.A.		132,347
	1,980,706		Novartis AG.		190,384
	3,621		Pargesa Holding S.A.		284
	1,587		Partners Group		1,154
	5,150		Phonak Holding AG.		1,021
	4,058		PSP Swiss Property AG.		441
	434,790		Roche Holding AG.		119,808
	4,126	*	Schindler Holding AG.		856
	1,907	*	Schindler Holding AG. (Registered)		395
	513		SGS S.A.		1,278
	12,369		Sika AG.		1,730
	62,064		STMicroelectronics NV		921
	4,988		Straumann Holding AG.		4,078
	68		Sulzer AG.		7
	3,236		Swatch Group AG.		927
	2,373		Swatch Group AG. (Registered)		131
	3,096		Swiss Life Holding		1,364
	10,944		Swiss Prime Site AG.		959
	30,849		Swiss Re Ltd		3,015
	2,309	e	Swisscom AG.		1,130
	2,908		Temenos Group AG.		429
	460,761		UBS AG.		5,591
	2,170		Vifor Pharma AG.		294
	96,011		Zurich Financial Services AG.		31,783
			TOTAL SWITZERLAND		704,420
TAIWAN - 1.1%
	301,000		Acer, Inc		194
	37,000		Advantech Co Ltd		308
	12,000		Airtac International Group		156
	361,000	*	ASE Industrial Holding Co Ltd		792
	236,000		Asia Cement Corp		307
	73,000		Asustek Computer, Inc		529
	884,000		AU Optronics Corp		326
	166,000		Catcher Technology Co Ltd		1,282
	2,174,000		Cathay Financial Holding Co Ltd		3,176
	2,931,517		Chailease Holding Co Ltd		12,012
	552,480		Chang Hwa Commercial Bank		331
	184,000		Cheng Shin Rubber Industry Co Ltd		251
	53,335		Chicony Electronics Co Ltd		124
	204,000		China Airlines		65
	1,381,000		China Development Financial Holding Corp		462
	273,700		China Life Insurance Co Ltd (Taiwan)		233
	3,562,000		China Steel Corp		2,926
	1,878,000		Chinatrust Financial Holding Co		1,247
	1,035,000		Chunghwa Telecom Co Ltd		3,680

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	411,000		Compal Electronics, Inc	$	256
	698,182		Dadi Early-Childhood Education Group Ltd		5,577
	534,000		Delta Electronics, Inc		2,759
	1,052,053		E.Sun Financial Holding Co Ltd		812
	19,000		Eclat Textile Co Ltd		256
	166,122		Eva Airways Corp		81
	232,373		Evergreen Marine Corp Tawain Ltd		90
	327,000		Far Eastern Textile Co Ltd		324
	176,000		Far EasTone Telecommunications Co Ltd		425
	36,000		Feng TAY Enterprise Co Ltd		255
	1,067,930		First Financial Holding Co Ltd		731
	839,000		Formosa Chemicals & Fibre Corp		3,057
	394,000		Formosa Petrochemical Corp		1,479
	1,145,000		Formosa Plastics Corp		4,076
	65,000		Formosa Taffeta Co Ltd		78
	89,000		Foxconn Technology Co Ltd		178
	1,793,000		Fubon Financial Holding Co Ltd		2,680
	1,052,000		Fuhwa Financial Holdings Co Ltd		600
	32,000		Giant Manufacturing Co Ltd		229
	23,000		Globalwafers Co Ltd		227
	78,000		Highwealth Construction Corp		129
	24,929		Hiwin Technologies Corp		211
	3,361,000		Hon Hai Precision Industry Co, Ltd		8,033
	1,535,678		Hota Industrial Manufacturing Co Ltd		5,667
	29,000		Hotai Motor Co Ltd		356
	793,050		Hua Nan Financial Holdings Co Ltd		499
	920,000		InnoLux Display Corp		299
	253,000		Inventec Co Ltd		193
	80,400		Largan Precision Co Ltd		12,059
	213,000		Lite-On Technology Corp		310
	1,526,000		MediaTek, Inc		14,031
	1,179,000		Mega Financial Holding Co Ltd		1,074
	74,000		Micro-Star International Co Ltd		209
	1,323,000		Nan Ya Plastics Corp		3,392
	116,000		Nanya Technology Corp		232
	16,000		Nien Made Enterprise Co Ltd		141
	60,000		Novatek Microelectronics Corp Ltd		386
	208,000		Pegatron Technology Corp		361
	14,000		Phison Electronics Corp		137
	215,000		Pou Chen Corp		262
	71,000		Powertech Technology, Inc		168
	60,000		President Chain Store Corp		591
	283,000		Quanta Computer, Inc		532
	47,000		Realtek Semiconductor Corp		279
	50,400		Ruentex Development Co Ltd		76
	34,600		Ruentex Industries Ltd		91
	330,000		Shanghai Commercial & Savings Bank Ltd		522
	1,046,950		Shin Kong Financial Holding Co Ltd		309
	1,058,300		SinoPac Financial Holdings Co Ltd		392
	38,000		Standard Foods Corp		64
	141,000		Synnex Technology International Corp		170
	30,000	*	TaiMed Biologics, Inc		164
	1,005,220		Taishin Financial Holdings Co Ltd		459

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	367,680		Taiwan Business Bank	$	143
	1,015,800		Taiwan Cement Corp		1,362
	930,410		Taiwan Cooperative Financial Holding		589
	221,000		Taiwan High Speed Rail Corp		258
	178,000		Taiwan Mobile Co Ltd		644
	15,027,200		Taiwan Semiconductor Manufacturing Co Ltd		120,354
	203,000	*	Tatung Co Ltd		161
	512,000		Uni-President Enterprises Corp		1,244
	3,124,000		United Microelectronics Corp		1,183
	92,000		Vanguard International Semiconductor Corp		199
	35,000		Walsin Technology Corp		228
	36,000		Win Semiconductors Corp		255
	302,000		Winbond Electronics Corp		145
	285,697		Wistron Corp		220
	137,640		WPG Holdings Co Ltd		180
	27,339		Yageo Corp		288
	45,000		Zhen Ding Technology Holding Ltd		140
			TOTAL TAIWAN		231,962
THAILAND - 0.1%
	110,800		Advanced Info Service PCL (Foreign)		644
	1,072,100		Airports of Thailand PCL (Foreign)		2,279
	24,400		Bangkok Bank PCL (Foreign)		166
	310,300		Bangkok Dusit Medical Services PCL (Foreign)		243
	496,600		Bangkok Expressway & Metro PCL		158
	248,500		Banpu PCL (Foreign)		127
	83,100		Berli Jucker PCL		130
	444,090		BTS Group Holdings PCL		154
	30,200		Bumrungrad Hospital PCL (Foreign)		171
	90,100		Central Pattana PCL (Foreign)		208
	225,100		Charoen Pokphand Foods PCL		181
	1,302,500		CP Seven Eleven PCL (Foreign)		3,069
	29,600		Delta Electronics Thai PCL		66
	8,200		Electricity Generating PCL		76
	105,200		Energy Absolute PCL (Foreign)		159
	56,000		Glow Energy PCL (Foreign)		161
	31,800		Gulf Energy Development PCL		96
	266,500		Home Product Center PCL (Foreign)		129
	120,600		Indorama Ventures PCL (Foreign)		189
	1,446,800		IRPC PCL (Foreign)		259
	469,100		Kasikornbank PCL (Foreign)		2,783
	350,500		Krung Thai Bank PCL (Foreign)		212
	267,000		Land and Houses PCL Co Reg		90
	162,300		Minor International PCL (Foreign)		197
	48,500		Muangthai Capital PCL		67
	401,000		PTT Exploration & Production PCL (Foreign)		1,586
	244,000		PTT Global Chemical PCL (Foreign)		518
	2,930,700		PTT PCL (Foreign)		4,407
	31,400		Robinson PCL		58
	40,300		Siam Cement PCL (Foreign)		607
	194,100		Siam Commercial Bank PCL (Foreign)		808
	142,400		Thai Oil PCL (Foreign)		312
	110,400		Thai Union Group PCL		67

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	625,100		TMB Bank PCL (Foreign)	$	40
	812,200		True Corp PCL (Foreign)		122
			TOTAL THAILAND		20,539
TURKEY - 0.1%
	758,370	*	Akbank TAS		864
	19,492		Anadolu Efes Biracilik Ve Malt Sanayii AS		61
	22,322	*	Arcelik AS		68
	39,393		Aselsan Elektronik Sanayi Ve Ticaret AS		151
	21,945		BIM Birlesik Magazalar AS		300
	159,727		Eregli Demir ve Celik Fabrikalari TAS		262
	6,702		Ford Otomotiv Sanayi AS		59
	99,382		Haci Omer Sabanci Holding AS		140
	202,155		KOC Holding AS		585
	90,420		Petkim Petrokimya Holding		74
	19,701		TAV Havalimanlari Holding AS		83
	14,867		Tupras Turkiye Petrol Rafine		333
	56,852	*	Turk Hava Yollari		132
	70,080		Turk Sise ve Cam Fabrikalari AS		73
	289,304		Turkcell Iletisim Hizmet AS		628
	6,075,046		Turkiye Garanti Bankasi AS		9,139
	63,131		Turkiye Halk Bankasi AS		73
	163,478		Turkiye Is Bankasi (Series C)		162
			TOTAL TURKEY		13,187
UNITED ARAB EMIRATES - 0.0%
	213,779	*	Abu Dhabi Commercial Bank PJSC		552
	412,161		Aldar Properties PJSC		204
	174,902		DAMAC Properties Dubai Co PJSC		64
	44,623		DP World Ltd		714
	168,592	*	Dubai Islamic Bank PJSC		225
	87,408	*	Emaar Development PJSC		92
	207,988	*	Emaar Malls Group PJSC		99
	943,780		Emaar Properties PJSC		1,208
	462,650		Emirates Telecommunications Group Co PJSC		2,107
	288,273	*	National Bank of Abu Dhabi PJSC		1,199
	5,024	e	NMC Health plc		150
	127		Orascom Construction Ltd		1
			TOTAL UNITED ARAB EMIRATES		6,615
UNITED KINGDOM - 5.4%
	90,780		3i Group plc		1,164
	18,384		Admiral Group plc		520
	11,553		Aggreko plc		119
	548,034		Aptiv plc		43,563
	1,575,165		Ashtead Group plc		38,079
	167	*,e	ASOS plc		7
	414,931		Associated British Foods plc		13,194
	665,413		AstraZeneca plc		53,114
	44,872	g	Auto Trader Group plc		305
	371,488		Aviva plc		1,998
	11,881		Babcock International Group		76
	299,311		BAE Systems plc		1,881

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,584,071		Barclays plc	$	3,191
	48,698		Barratt Developments plc		380
	1,028,700		Beazley plc		6,903
	153,000	*	Belmond Ltd.		3,814
	5,973		Berkeley Group Holdings plc		287
	69,580		Big Yellow Group plc		899
	4,861,800	*	boohoo.com plc		11,976
	5,398,855		BP plc		39,204
	2,641,412		British American Tobacco plc		110,194
	19,200		British American Tobacco plc (ADR)		801
	947,951		British Land Co plc		7,278
	279,412		Britvic plc		3,468
	770,460		BT Group plc		2,238
	31,341		Bunzl plc		1,034
	40,235		Burberry Group plc		1,025
	74,662	*	Capita Group plc		121
	23,193		Capital & Counties Properties		73
	515,562		Centrica plc		768
	2,306,771		CNH Industrial NV		23,503
	108,123	*	Cobham plc		156
	10,520		Coca-Cola European Partners plc (Class A)		544
	150,427		Compass Group plc		3,539
	66,399	g	ConvaTec Group plc		123
	6,325		Croda International plc		416
	1,040		CYBG plc		3
	4,825		DCC plc		417
	404,000		Dechra Pharmaceuticals plc		14,215
	34,790		Derwent London plc		1,461
	2,389,352		Diageo plc		97,777
	65,633		Direct Line Insurance Group plc		302
	15,313		easyJet plc		223
	3,157,457		Electrocomponents plc		23,124
	89,025		Experian Group Ltd		2,410
	658,252		Fevertree Drinks plc		25,908
	92,615	*	Fiat DaimlerChrysler Automobiles NV		1,383
	740,699		GlaxoSmithKline plc		15,389
	139,960		Great Portland Estates plc		1,361
	78,368		Group 4 Securicor plc		188
	26,665		GVC Holdings plc		194
	1,006,137		Hammerson plc		4,405
	13,734		Hargreaves Lansdown plc		334
	2,541,459		HSBC Holdings plc		20,652
	12,380		IMI plc		155
	90,004		Imperial Tobacco Group plc		3,079
	2,029	*	Indivior plc		3
	60,381		Informa plc		586
	19,222		Inmarsat plc		139
	16,492		InterContinental Hotels Group plc		993
	46,127		International Consolidated Airlines Group S.A.		307
	14,934		Intertek Group plc		946
	31,744	e	Intu Properties plc		44
	176,182		ITV plc		292
	84,679		J Sainsbury plc		260

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	33,532	e	John Wood Group plc	$	222
	9,459		Johnson Matthey plc		388
	1,224,814	*	Just Eat plc		11,985
	104,535		Kingfisher plc		321
	152,217		Land Securities Group plc		1,812
	4,986,800	e	Learning Technologies Group plc		4,587
	560,290		Legal & General Group plc		2,011
	12,183	*	Liberty Global plc		295
	152,389	*	Liberty Global plc (Class A)		3,798
	989,376		Linde plc		174,201
	123,705		Linde plc		21,763
	12,046,804		Lloyds TSB Group plc		9,760
	143,649		London Stock Exchange Group plc		8,886
	167	*	Lonmin plc		0	^
	1,345,618		Man Group plc		2,384
	77,734		Marks & Spencer Group plc		282
	74,361		Meggitt plc		487
	446,773		Melrose Industries plc		1,067
	34,873	g	Merlin Entertainments plc		156
	20,554	*	Micro Focus International plc		534
	11,800		Micro Focus International plc (ADR)		304
	39,516		Mondi plc		875
	321,410		National Grid plc		3,568
	3,048		New Carphone Warehouse plc		6
	28,076		Next plc		2,040
	515,949	e	Old Mutual Ltd		783
	37,722		Pearson plc		412
	29,253		Persimmon plc		827
	804		Petrofac Ltd		5
	1,631,399		Prudential plc		32,702
	74,991	g	Quilter plc		143
	97,663		Reckitt Benckiser Group plc		8,128
	460,624		RELX plc		9,846
	213,401		RELX plc (London)		4,567
	170,021		Rolls-Royce Group plc		2,002
	232,359		Royal Bank of Scotland Group plc		748
	47,416		Royal Mail plc		147
	48,789		RSA Insurance Group plc		323
	57,983		Safestore Holdings plc		450
	51,681		Sage Group plc		472
	6,164		Schroders plc		217
	96,077		Scottish & Southern Energy plc		1,486
	3	*	Seadrill Ltd		0	^
	184,930		Segro plc		1,623
	11,296		Severn Trent plc		291
	17,395		Shaftesbury plc		199
	83,335	e	Smith & Nephew plc		1,655
	19,013		Smiths Group plc		356
	838	*	Sports Direct International plc		3
	26,094		St. James’s Place plc		350
	281,212		Standard Chartered plc		2,168
	225,031		Standard Life Aberdeen plc		773
	12,628		Subsea 7 S.A.		156

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	21,291		Tate & Lyle plc	$	201
	157,553		Taylor Wimpey plc		360
	9,663		TechnipFMC plc		226
	10,296		TechnipFMC plc (Euro OTC)		242
	26,171,111		Tesco plc		79,207
	11,287		Travis Perkins plc		202
	791		Tullett Prebon plc		3
	683,636		Unilever NV		39,857
	320,226		Unilever plc		18,433
	32,339		United Utilities Group plc		343
	1,591,900		Vesuvius plc		12,311
	6,805,357		Vodafone Group plc		12,401
	11,907		Weir Group plc		242
	139,325		Whitbread plc		9,220
	2,688		William Hill plc		6
	109,849		WM Morrison Supermarkets plc		326
	609,543		WPP plc		6,439
			TOTAL UNITED KINGDOM		1,095,088
UNITED STATES - 55.3%
	82,066		3M Co		17,052
	3,422		A.O. Smith Corp		182
	1,632,919		Abbott Laboratories		130,536
	226,332		AbbVie, Inc		18,240
	1,013	*	Abiomed, Inc		289
	44,100		Accenture plc		7,762
	604,006		Activision Blizzard, Inc		27,500
	907		Acuity Brands, Inc		109
	42,751	*	Adobe, Inc		11,393
	1,741		Advance Auto Parts, Inc		297
	438,282	*	Advanced Micro Devices, Inc		11,185
	15,721		AES Corp		284
	1,251		Affiliated Managers Group, Inc		134
	60,283		Aflac, Inc		3,014
	140,515		Agilent Technologies, Inc		11,295
	12,420		AGNC Investment Corp		224
	11,000		Agree Realty Corp		763
	201,428		Air Products & Chemicals, Inc		38,465
	3,940	*	Akamai Technologies, Inc		283
	140,708		Albemarle Corp		11,535
	17,474		Alexandria Real Estate Equities, Inc		2,491
	629,940	*	Alexion Pharmaceuticals, Inc		85,155
	14,810	*	Align Technology, Inc		4,211
	3,691	*	Alkermes plc		135
	7,792	*	Alleghany Corp		4,772
	2,250		Allegion plc		204
	174,978		Allergan plc		25,619
	1,189		Alliance Data Systems Corp		208
	96,073		Alliant Energy Corp		4,528
	128,988		Allison Transmission Holdings, Inc		5,794
	28,164		Allstate Corp		2,653
	9,994		Ally Financial, Inc		275
	2,154	*	Alnylam Pharmaceuticals, Inc		201

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	181,290	*	Alphabet, Inc (Class A)	$	213,358
	160,259	*	Alphabet, Inc (Class C)		188,034
	7,759		Altice USA, Inc		167
	267,136		Altria Group, Inc		15,342
	226,837	*	Amazon.com, Inc		403,940
	16,653	*	AMC Networks, Inc		945
	224		Amerco, Inc		83
	5,795		Ameren Corp		426
	2,766		American Airlines Group, Inc		88
	34,283		American Electric Power Co, Inc		2,871
	531,843		American Express Co		58,130
	1,800		American Financial Group, Inc		173
	50,000		American Homes 4 Rent		1,136
	274,601		American International Group, Inc		11,824
	50,274		American Tower Corp		9,907
	4,283		American Water Works Co, Inc		447
	3,338		Ameriprise Financial, Inc		428
	21,205		AmerisourceBergen Corp		1,686
	5,506		Ametek, Inc		457
	88,299		Amgen, Inc		16,775
	7,138		Amphenol Corp (Class A)		674
	436,953		Anadarko Petroleum Corp		19,873
	25,737		Analog Devices, Inc		2,709
	33,063		Annaly Capital Management, Inc		330
	1,992	*	Ansys, Inc		364
	37,845		Anthem, Inc		10,861
	18,664		Aon plc		3,186
	9,047		Apache Corp		314
	11,601		Apartment Investment & Management Co		583
	2,777,604	n	Apple, Inc		527,606
	79,219		Applied Materials, Inc		3,142
	351,171		ARAMARK Holdings Corp		10,377
	9,563	*	Arch Capital Group Ltd		309
	13,295		Archer Daniels Midland Co		573
	10,238		Arconic, Inc		196
	1,248	*	Arista Networks, Inc		392
	1,991	*	Arrow Electronics, Inc		153
	4,337		Arthur J. Gallagher & Co		339
	96,756		Ashland Global Holdings, Inc		7,560
	61,629		Associated Banc-Corp		1,316
	1,182		Assurant, Inc		112
	1,216,982		AT&T, Inc		38,165
	175,653	*	Athene Holding Ltd		7,167
	2,716		Atmos Energy Corp		280
	5,185	*	Autodesk, Inc		808
	70,809		Automatic Data Processing, Inc		11,311
	612	*	AutoZone, Inc		627
	21,279		AvalonBay Communities, Inc		4,271
	2,102		Avery Dennison Corp		238
	450,101		AXA Equitable Holdings, Inc		9,065
	66,419	*	Axalta Coating Systems Ltd		1,674
	12,067		Baker Hughes a GE Co		335
	7,692		Ball Corp		445

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	6,394,278		Bank of America Corp	$	176,418
	76,189		Bank of New York Mellon Corp		3,842
	31,272	*	Bausch Health Cos, Inc		772
	660,210		Baxter International, Inc		53,682
	51,306		BB&T Corp		2,387
	58,939		Becton Dickinson & Co		14,719
	570,938	*	Berkshire Hathaway, Inc (Class B)		114,696
	138,287	*	Berry Plastics Group, Inc		7,450
	5,916		Best Buy Co, Inc		420
	24,534	*	Biogen Idec, Inc		5,799
	19,222	*	BioMarin Pharmaceutical, Inc		1,708
	8,818		BlackRock, Inc		3,769
	380,288		Blackstone Group LP		13,299
	624,479		Boeing Co		238,189
	4,713	*	Booking Holdings, Inc		8,224
	4,955		BorgWarner, Inc		190
	37,666		Boston Properties, Inc		5,043
	1,455,846	*	Boston Scientific Corp		55,875
	2,473	*	Brighthouse Financial, Inc		90
	245,809		Bristol-Myers Squibb Co		11,728
	111,887		Broadcom, Inc		33,646
	2,767		Broadridge Financial Solutions, Inc		287
	3,303		Brookfield Property REIT, Inc		68
	6,300		Brown-Forman Corp (Class B)		333
	185,286		BRP, Inc (Toronto)		5,141
	164,673		Bunge Ltd		8,739
	909,638		Burford Capital Ltd		19,986
	1,602	*	Burlington Stores, Inc		251
	10,575		Cabot Oil & Gas Corp		276
	18,686	*	CACI International, Inc (Class A)		3,401
	6,604	*	Cadence Design Systems, Inc		419
	18,488		Camden Property Trust		1,877
	4,170		Campbell Soup Co		159
	82,888		Capital One Financial Corp		6,771
	831,175	*	Capri Holdings Ltd		38,026
	7,191		Cardinal Health, Inc		346
	4,155	*	CarMax, Inc		290
	10,040		Carnival Corp		509
	16,596		Carnival plc		820
	716,581		Caterpillar, Inc		97,090
	2,657		CBOE Holdings, Inc		254
	7,664	*	CBRE Group, Inc		379
	352,516		CBS Corp (Class B)		16,755
	2,945		CDK Global, Inc		173
	163,368		CDW Corp		15,744
	3,193		Celanese Corp (Series A)		315
	159,669	*	Celgene Corp		15,063
	9,738	*	Centene Corp		517
	11,805		Centerpoint Energy, Inc		362
	23,069		CenturyLink, Inc		277
	7,034	*	Cerner Corp		402
	5,502		CF Industries Holdings, Inc		225
	3,270		CH Robinson Worldwide, Inc		284

235

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	82,850		Charles Schwab Corp	$	3,543
	27,391	*	Charter Communications, Inc		9,502
	7,052		Chemed Corp		2,257
	4,189		Chemours Co		156
	173,968	*	Cheniere Energy, Inc		11,892
	1,772,283		Chevron Corp		218,310
	593	*	Chipotle Mexican Grill, Inc (Class A)		421
	232,820		Chubb Ltd		32,613
	5,816		Church & Dwight Co, Inc		414
	50,610		Cigna Corp		8,139
	37,485		Cimarex Energy Co		2,620
	3,662		Cincinnati Financial Corp		315
	2,125		Cintas Corp		430
	3,975,393		Cisco Systems, Inc		214,631
	2,591		CIT Group, Inc		124
	233,875		Citigroup, Inc		14,552
	367,477		Citizens Financial Group, Inc		11,943
	3,207		Citrix Systems, Inc		320
	3,032		Clorox Co		487
	71,299		CME Group, Inc		11,734
	6,729		CMS Energy Corp		374
	4,172,156		Coca-Cola Co		195,507
	4,073		Cognex Corp		207
	41,950		Cognizant Technology Solutions Corp (Class A)		3,039
	61,419		Colgate-Palmolive Co		4,210
	2,564,499		Comcast Corp (Class A)		102,529
	3,943		Comerica, Inc		289
	4,568	*	CommScope Holding Co, Inc		99
	4,246,056		ConAgra Brands, Inc		117,786
	947,741		Concho Resources, Inc		105,161
	84,120		ConocoPhillips		5,614
	7,390		Consolidated Edison, Inc		627
	61,502		Constellation Brands, Inc (Class A)		10,783
	64,500	*	Continental Resources, Inc		2,888
	5,803		Cooper Cos, Inc		1,719
	4,980	*	Copart, Inc		302
	374,218		Corning, Inc		12,387
	863	*	CoStar Group, Inc		403
	607,904		Costco Wholesale Corp		147,198
	16,893		Coty, Inc		194
	31,163	*	Credit Acceptance Corp		14,084
	174,011	*	Cree, Inc		9,957
	186,319		Crown Castle International Corp		23,849
	1,566,917	*	Crown Holdings, Inc		85,507
	1,169,468		CSX Corp		87,500
	16,235		CubeSmart		520
	3,647		Cummins, Inc		576
	210,271		CVS Health Corp		11,340
	225,851		Danaher Corp		29,817
	2,947		Darden Restaurants, Inc		358
	3,161	*	DaVita, Inc		172
	59,456	*	Deckers Outdoor Corp		8,739
	127,320		Deere & Co		20,351

236

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	156,851		Delek US Holdings, Inc	$	5,713
	3,607	*	Dell Technologies, Inc		212
	3,950		Delta Air Lines, Inc		204
	5,370		Dentsply Sirona, Inc		266
	11,564		Devon Energy Corp		365
	32,478	*	DexCom, Inc		3,868
	130,530		Diamondback Energy, Inc		13,253
	40,588		DiamondRock Hospitality Co		440
	4,892		Digital Realty Trust, Inc		582
	8,048		Discover Financial Services		573
	3,728	*	Discovery, Inc (Class A)		101
	7,273	*	Discovery, Inc (Class C)		185
	22,941	*	DISH Network Corp (Class A)		727
	35,486		Dollar General Corp		4,233
	5,642	*	Dollar Tree, Inc		593
	176,026		Dominion Resources, Inc		13,494
	942		Domino’s Pizza, Inc		243
	3,466		Dover Corp		325
	718,690		DowDuPont, Inc		38,313
	8,493		DR Horton, Inc		351
	4,317		DTE Energy Co		539
	49,549		Duke Energy Corp		4,459
	8,433		Duke Realty Corp		258
	630,199		DXC Technology Co		40,528
	93,236		E*TRADE Financial Corp		4,329
	3,415		East West Bancorp, Inc		164
	3,350		Eastman Chemical Co		254
	130,639		Eaton Corp		10,524
	3,248		Eaton Vance Corp		131
	286,458		eBay, Inc		10,639
	46,127		Ecolab, Inc		8,143
	34,736		Edison International		2,151
	514,098	*	Edwards Lifesciences Corp		98,362
	249,451	*	Elanco Animal Health, Inc		8,000
	868,786	*	Electronic Arts, Inc		88,295
	754,352		Eli Lilly & Co		97,885
	449,090		Emerson Electric Co		30,749
	80,837		Entergy Corp		7,730
	1,063,460		EOG Resources, Inc		101,220
	2,862		Equifax, Inc		339
	3,397		Equinix, Inc		1,539
	19,714		Equity Lifestyle Properties, Inc		2,253
	33,738		Equity Residential		2,541
	11,067		Essex Property Trust, Inc		3,201
	84,689		Estee Lauder Cos (Class A)		14,020
	966		Everest Re Group Ltd		209
	6,348		Evergy, Inc		369
	7,523		Eversource Energy		534
	132,462		Exelon Corp		6,640
	112,160		Expedia, Inc		13,347
	4,116		Expeditors International of Washington, Inc		312
	13,960		Extra Space Storage, Inc		1,423
	1,352,032	d	Exxon Mobil Corp		109,244

237

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,429	*	F5 Networks, Inc	$	224
	1,309,543	*	Facebook, Inc		218,288
	6,806		Fastenal Co		438
	10,951		Federal Realty Investment Trust		1,510
	178,387		FedEx Corp		32,361
	22,778		Ferguson plc		1,451
	30,783		Fidelity National Information Services, Inc		3,482
	18,411		Fifth Third Bancorp		464
	12,767	*	First Data Corp		335
	3,886		First Republic Bank		390
	869,706		FirstEnergy Corp		36,188
	32,418	*	Fiserv, Inc		2,862
	2,101	*	FleetCor Technologies, Inc		518
	12,673	*	Flextronics International Ltd		127
	3,256		Flir Systems, Inc		155
	3,109		Flowserve Corp		140
	3,246		Fluor Corp		119
	3,169		FMC Corp		243
	6,528		FNF Group		239
	88,092		Ford Motor Co		773
	3,423	*	Fortinet, Inc		287
	204,211		Fortive Corp		17,131
	3,388		Fortune Brands Home & Security, Inc		161
	25,000		Four Corners Property Trust, Inc		740
	30,200	*	Fox Corp (Class A)		1,109
	3,955	*	Fox Corp (Class B)		142
	7,270		Franklin Resources, Inc		241
	3,368,697		Freeport-McMoRan Copper & Gold, Inc (Class B)		43,423
	626,367		Gaming and Leisure Properties, Inc		24,159
	5,479		Gap, Inc		143
	2,667		Garmin Ltd		230
	2,157	*	Gartner, Inc		327
	19,188		General Dynamics Corp		3,248
	3,550,305		General Electric Co		35,468
	14,144		General Mills, Inc		732
	69,850,000	*,†	General Motors Co		0
	530,757	*,†	General Motors Co		0
	18,159,000	*,†	General Motors Co		0
	61,921,000	*,†,e	General Motors Co		0
	18,106,794	*,†,e	General Motors Co		0
	4,461,000	*,†	General Motors Co		0
	26,439,985	*,†	General Motors Co		0
	13,592,224	*,†	General Motors Co		0
	19,417,463	*,†	General Motors Co		0
	29,845,445	*,†	General Motors Co		0
	88,971		General Motors Co		3,301
	3,481		Genuine Parts Co		390
	905,833		Gilead Sciences, Inc		58,888
	3,756		Global Payments, Inc		513
	82,110	*	GoDaddy, Inc		6,174
	157,213		Goldman Sachs Group, Inc		30,183
	5,151		Goodyear Tire & Rubber Co		94
	48,040	*	GrubHub, Inc		3,337

238

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,651		H&R Block, Inc	$	111
	145,051		Halliburton Co		4,250
	8,363		Hanesbrands, Inc		150
	3,972		Harley-Davidson, Inc		142
	2,786		Harris Corp		445
	108,298		Hartford Financial Services Group, Inc		5,385
	2,828		Hasbro, Inc		240
	88,627		HCA Holdings, Inc		11,555
	63,328		HCP, Inc		1,982
	4,148	*	HD Supply Holdings, Inc		180
	18,000		Healthcare Trust of America, Inc		515
	2,444		Helmerich & Payne, Inc		136
	3,591	*	Henry Schein, Inc		216
	3,358		Hershey Co		386
	6,608		Hess Corp		398
	35,029		Hewlett Packard Enterprise Co		541
	6,707		Hilton Worldwide Holdings, Inc		557
	3,937		HollyFrontier Corp		194
	267,696	*	Hologic, Inc		12,957
	913,835		Home Depot, Inc		175,356
	701,813		Honeywell International, Inc		111,532
	6,942	e	Hormel Foods Corp		311
	113,124		Host Marriott Corp		2,138
	124,703		HP, Inc		2,423
	40,588		Hudson Pacific Properties		1,397
	53,981		Humana, Inc		14,359
	659,947		Huntington Bancshares, Inc		8,368
	1,006		Huntington Ingalls		208
	36,411	*	IAC/InterActiveCorp		7,650
	1,808		IDEX Corp		274
	22,050	*	IDEXX Laboratories, Inc		4,930
	9,327	*	IHS Markit Ltd		507
	25,344		Illinois Tool Works, Inc		3,638
	53,526	*	Illumina, Inc		16,630
	19,294	*	Incyte Corp		1,659
	245,375		Ingersoll-Rand plc		26,488
	1,683		Ingredion, Inc		159
	2,476,802		Intel Corp		133,004
	64,971		IntercontinentalExchange Group, Inc		4,947
	65,840		International Business Machines Corp		9,290
	106		International Flavors & Fragrances, Inc		14
	362,027		International Flavors & Fragrances, Inc		46,625
	22,710		International Paper Co		1,051
	152,230		Interpublic Group of Cos, Inc		3,198
	63,774		Intuit, Inc		16,671
	25,969	*	Intuitive Surgical, Inc		14,817
	10,098		Invesco Ltd		195
	57,269		Invitation Homes, Inc		1,393
	886	*	IPG Photonics Corp		134
	3,819	*	IQVIA Holdings, Inc		549
	6,384		Iron Mountain, Inc		226
	25,000		iShares Dow Jones US Real Estate Index Fund		2,176

239

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	187,331		iShares MSCI Canada Index Fund	$	5,178
	42,210		iShares MSCI South Korea Index Fund		2,573
	191,296		ITT, Inc		11,095
	2,701		J.M. Smucker Co		315
	1,829		Jack Henry & Associates, Inc		254
	2,978		Jacobs Engineering Group, Inc		224
	68,693	*	Jazz Pharmaceuticals plc		9,820
	2,075		JB Hunt Transport Services, Inc		210
	18,000		JBG SMITH Properties		744
	7,340		Jefferies Financial Group, Inc		138
	984,630		Johnson & Johnson		137,641
	21,928		Johnson Controls International plc		810
	1,128		Jones Lang LaSalle, Inc		174
	1,412,103		JPMorgan Chase & Co		142,947
	8,026		Juniper Networks, Inc		212
	2,370		Kansas City Southern Industries, Inc		275
	6,176		Kellogg Co		354
	119,848		Kennametal, Inc		4,404
	24,749		Keycorp		390
	4,446	*	Keysight Technologies, Inc		388
	19,714		Kilroy Realty Corp		1,497
	59,013		Kimberly-Clark Corp		7,312
	9,753		Kimco Realty Corp		180
	47,101		Kinder Morgan, Inc		943
	11,462		KKR & Co, Inc		269
	3,797		Kla-Tencor Corp		453
	2,818		Knight-Swift Transportation Holdings, Inc		92
	227,065		Kohl’s Corp		15,615
	62,037		Korn/Ferry International		2,778
	164,281		Kraft Heinz Co		5,364
	106,146		Kroger Co		2,611
	5,420		L Brands, Inc		149
	90,911		L3 Technologies, Inc		18,761
	18,205	*	Laboratory Corp of America Holdings		2,785
	137,937		Lam Research Corp		24,692
	3,462		Lamb Weston Holdings, Inc		259
	582,756		Las Vegas Sands Corp		35,525
	1,582		Lear Corp		215
	3,185		Leggett & Platt, Inc		134
	3,389		Leidos Holdings, Inc		217
	6,935		Lennar Corp (Class A)		340
	838		Lennox International, Inc		222
	18,947	*	Levi Strauss & Co		446
	2,479	*	Liberty Broadband Corp (Class C)		227
	4,777	*	Liberty Media Group (Class C)		167
	3,297		Liberty Property Trust		160
	2,212	*	Liberty SiriusXM Group (Class A)		84
	4,126	*	Liberty SiriusXM Group (Class C)		158
	5,073		Lincoln National Corp		298
	3,439	*	Live Nation, Inc		219
	780,785	*	Livent Corp		9,588
	7,478	*	LKQ Corp		212
	18,671		Lockheed Martin Corp		5,604

240

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	6,316		Loews Corp	$	303
	112,763		Lowe’s Companies, Inc		12,344
	132,154	*	Lululemon Athletica, Inc		21,656
	34,127	*	Lyft Inc (Class A)		2,672
	28,192		LyondellBasell Industries AF S.C.A		2,370
	246,375		M&T Bank Corp		38,686
	2,554		Macerich Co		111
	7,301		Macy’s, Inc		175
	147,506		Magellan Midstream Partners LP		8,943
	1,449		Manpower, Inc		120
	19,979		Marathon Oil Corp		334
	115,339		Marathon Petroleum Corp		6,903
	330	*	Markel Corp		329
	24,926		Marriott International, Inc (Class A)		3,118
	124,372		Marsh & McLennan Cos, Inc		11,679
	1,493		Martin Marietta Materials, Inc		300
	454,934		Marvell Technology Group Ltd		9,049
	7,352		Masco Corp		289
	498,408		MasterCard, Inc (Class A)		117,350
	384,752	*	Matador Resources Co		7,437
	8,191	*,e	Mattel, Inc		106
	6,581		Maxim Integrated Products, Inc		350
	2,881		McCormick & Co, Inc		434
	693,189		McDonald’s Corp		131,637
	16,281		McKesson Corp		1,906
	198,435		Medtronic plc		18,073
	2,582,180		Merck & Co, Inc		214,760
	23,018	*	Merrimack Pharmaceuticals, Inc		160
	81,498		Metlife, Inc		3,469
	597	*	Mettler-Toledo International, Inc		432
	601,199		MGM Growth Properties LLC		19,389
	12,006		MGM Resorts International		308
	5,601		Microchip Technology, Inc		465
	76,188	*	Micron Technology, Inc		3,149
	3,866,145		Microsoft Corp		455,973
	10,687		Mid-America Apartment Communities, Inc		1,168
	1,339	*	Middleby Corp		174
	1,514	*	Mohawk Industries, Inc		191
	4,498		Molson Coors Brewing Co (Class B)		268
	650,347		Mondelez International, Inc		32,465
	807,890	*	Monster Beverage Corp		44,095
	4,094		Moody’s Corp		741
	1,714,901		Morgan Stanley		72,369
	8,641		Mosaic Co		236
	157,208		Motorola, Inc		22,075
	2,098		MSCI, Inc (Class A)		417
	54,635	*	Mylan NV		1,548
	2,715		NASDAQ OMX Group, Inc		238
	9,094		National Oilwell Varco, Inc		242
	3,632		National Retail Properties, Inc		201
	20,000		National Storage Affiliates Trust		570
	4,100	*	Nektar Therapeutics		138
	6,057		NetApp, Inc		420

241

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	88,973	*	NetFlix, Inc	$	31,724
	11,142		Newell Rubbermaid, Inc		171
	295,345		Newmont Mining Corp		10,565
	9,363		News Corp (Class A)		116
	93,000		Nexteer Automotive Group Ltd		115
	203,624		NextEra Energy, Inc		39,365
	8,429		Nielsen NV		200
	1,604,040		Nike, Inc (Class B)		135,076
	8,720		NiSource, Inc		250
	11,425		Noble Energy, Inc		283
	2,727		Nordstrom, Inc		121
	20,793		Norfolk Southern Corp		3,886
	5,012		Northern Trust Corp		453
	127,549		Northrop Grumman Corp		34,387
	5,129	*	Norwegian Cruise Line Holdings Ltd		282
	33,043		NRG Energy, Inc		1,404
	35,239		Nucor Corp		2,056
	221,924	*	Nutanix, Inc		8,375
	50,926		NVIDIA Corp		9,144
	810	*	NVR, Inc		2,241
	165,840		Occidental Petroleum Corp		10,979
	4,570		OGE Energy Corp		197
	1,460		Old Dominion Freight Line		211
	1,875,014		Olin Corp		43,388
	5,318		Omnicom Group, Inc		388
	10,036	*	ON Semiconductor Corp		206
	5,798	*	OneMarket Ltd		2
	45,507		ONEOK, Inc		3,178
	227,173		Oracle Corp		12,201
	6,576	*	O’Reilly Automotive, Inc		2,553
	2,766		Owens Corning, Inc		130
	8,302		PACCAR, Inc		566
	7,373		Packaging Corp of America		733
	2,231	*	Palo Alto Networks, Inc		542
	109,055		Parker-Hannifin Corp		18,716
	762,722	*	Parsley Energy, Inc		14,721
	7,666		Paychex, Inc		615
	1,843,508	*	PayPal Holdings, Inc		191,430
	12,000		Pebblebrook Hotel Trust		373
	1,055,000	*	Penn National Gaming, Inc		21,206
	3,905		Pentair plc		174
	8,996		People’s United Financial, Inc		148
	194,600		PepsiCo, Inc		23,848
	3,079		Perrigo Co plc		148
	1,143,493		Pfizer, Inc		48,564
	237,681		Philip Morris International, Inc		21,009
	90,413		Phillips 66		8,605
	142,415		Pinnacle West Capital Corp		13,612
	28,842		Pioneer Natural Resources Co		4,392
	631,938		Plains All American Pipeline LP		15,489
	295,047		Plains GP Holdings LP		7,353
	35,447		PNC Financial Services Group, Inc		4,348
	1,511		Polaris Industries, Inc		128

242

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	5,709		PPG Industries, Inc	$	644
	74,370		PPL Corp		2,361
	6,805		Principal Financial Group		342
	1,875,298		Procter & Gamble Co		195,125
	144,076		Progressive Corp		10,386
	104,930		Prologis, Inc		7,550
	193,942		Prudential Financial, Inc		17,819
	2,652	*	PTC, Inc		244
	11,994		Public Service Enterprise Group, Inc		713
	12,720		Public Storage, Inc		2,770
	6,443		Pulte Homes, Inc		180
	1,870		PVH Corp		228
	71,870	*	QIAGEN NV (Turquoise)		2,917
	2,972	*	Qorvo, Inc		213
	30,000		QTS Realty Trust, Inc		1,350
	345,873		QUALCOMM, Inc		19,725
	24,995		Quest Diagnostics, Inc		2,248
	9,838	*	Qurate Retail Group, Inc QVC Group		157
	1,304		Ralph Lauren Corp		169
	3,130		Raymond James Financial, Inc		252
	21,122		Raytheon Co		3,846
	16,941		Realty Income Corp		1,246
	122,433	*	Red Hat, Inc		22,369
	38,611		Regency Centers Corp		2,606
	9,889	*	Regeneron Pharmaceuticals, Inc		4,061
	25,292		Regions Financial Corp		358
	1,499		Reinsurance Group of America, Inc (Class A)		213
	5,394		Republic Services, Inc		434
	18,382		Resmed, Inc		1,911
	30,000		Retail Opportunities Investment Corp		520
	91,177	*	Retrophin, Inc		2,063
	373,405		Rexford Industrial Realty, Inc		13,372
	2,964		Robert Half International, Inc		193
	60,204		Rockwell Automation, Inc		10,563
	3,740		Rollins, Inc		156
	93,493		Roper Industries, Inc		31,972
	28,573		Ross Stores, Inc		2,660
	3,970		Royal Caribbean Cruises Ltd		455
	18,598		S&P Global, Inc		3,916
	6,572		Sabre Corp		141
	1,034,932	*	salesforce.com, Inc		163,902
	12,773,230	*,g	Samsonite International		41,041
	2,705	*	SBA Communications Corp		540
	234,379		Schlumberger Ltd		10,212
	6,462		Seagate Technology, Inc		309
	3,750		Sealed Air Corp		173
	31,637	*	Seattle Genetics, Inc		2,317
	3,141		SEI Investments Co		164
	79,022		Sempra Energy		9,946
	3,975	*	Sensata Technologies Holding plc		179
	340,627	*	ServiceNow, Inc		83,961
	6,031		Sherwin-Williams Co		2,598
	1,322		Signature Bank		169

243

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	55,609		Simon Property Group, Inc	$	10,133
	37,998		Sirius XM Holdings, Inc		215
	4,153		Skyworks Solutions, Inc		343
	25,036		SL Green Realty Corp		2,251
	1,336		Snap-On, Inc		209
	65,393		Southern Co		3,380
	3,374		Southwest Airlines Co		175
	2,507		Spirit Aerosystems Holdings, Inc (Class A)		229
	3,461	*	Splunk, Inc		431
	79,820	*	Sprint Corp		451
	7,224	*	Square, Inc		541
	5,246		SS&C Technologies Holdings, Inc		334
	134,872		Stanley Black & Decker, Inc		18,366
	183,827		Starbucks Corp		13,666
	40,000		Starwood Property Trust, Inc		894
	77,231		State Street Corp		5,083
	5,562		Steel Dynamics, Inc		196
	23,691		Stryker Corp		4,679
	22,000		Sun Communities, Inc		2,607
	55,000		Sunstone Hotel Investors, Inc		792
	10,787		SunTrust Banks, Inc		639
	1,265	*	SVB Financial Group		281
	14,923		Symantec Corp		343
	15,984		Synchrony Financial		510
	158,799	*	Synopsys, Inc		18,286
	38,688		Sysco Corp		2,583
	5,740		T Rowe Price Group, Inc		575
	1,700	*	Tableau Software, Inc		216
	156,950	*	Take-Two Interactive Software, Inc		14,811
	680,906		Tapestry, Inc		22,123
	5,378		Targa Resources Investments, Inc		223
	674,376		Target Corp		54,125
	6,702		TD Ameritrade Holding Corp		335
	91,975		TE Connectivity Ltd		7,427
	1,089		Teleflex, Inc		329
	213,161		Terex Corp		6,849
	16,235		Terreno Realty Corp		683
	3,044	*,e	Tesla, Inc		852
	48,320		Tetra Tech, Inc		2,879
	72,689		Texas Instruments, Inc		7,710
	197,438		Textron, Inc		10,002
	62,421		Thermo Fisher Scientific, Inc		17,086
	2,590		Tiffany & Co		273
	94,275		TJX Companies, Inc		5,016
	357,014	*	T-Mobile US, Inc		24,670
	2,525		Torchmark Corp		207
	100,766		Total System Services, Inc		9,574
	2,892		Tractor Supply Co		283
	12,649	*	TransDigm Group, Inc		5,743
	16,563	*	Transocean Ltd		145
	600,013	*	Transocean Ltd (NYSE)		5,226
	4,392		TransUnion		294
	22,192		Travelers Cos, Inc		3,044

244

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	837,950		Travelport Worldwide Ltd	$	13,181
	5,892	*	Trimble Navigation Ltd		238
	2,462	*	TripAdvisor, Inc		127
	1,048,136		Tronox Holdings plc		13,783
	16,172	*	Twitter, Inc		532
	7,016		Tyson Foods, Inc (Class A)		487
	6,343		UDR, Inc		288
	4,115		UGI Corp		228
	50,424	*	Ulta Beauty, Inc		17,584
	900,943	*	Under Armour, Inc (Class A)		19,046
	4,589	*	Under Armour, Inc (Class C)		87
	1,119,654		Union Pacific Corp		187,206
	1,590	*	United Continental Holdings, Inc		127
	49,090		United Parcel Service, Inc (Class B)		5,485
	208,379	*	United Rentals, Inc		23,807
	59,472		United Technologies Corp		7,665
	1,024	*	United Therapeutics Corp		120
	783,698		UnitedHealth Group, Inc		193,777
	2,032		Universal Health Services, Inc (Class B)		272
	5,249		UnumProvident Corp		178
	319,666		US Bancorp		15,405
	950		Vail Resorts, Inc		206
	93,627		Valero Energy Corp		7,942
	178,256		Valvoline, Inc		3,308
	406,856	e	Vanguard Emerging Markets ETF		17,291
	50,000	e	Vanguard FTSE Developed Markets ETF		2,044
	2,168	*	Varian Medical Systems, Inc		307
	2,901	*	Veeva Systems, Inc		368
	31,645		Ventas, Inc		2,019
	23,606		VEREIT, Inc		198
	2,597	*	VeriSign, Inc		472
	3,710		Verisk Analytics, Inc		493
	912,144		Verizon Communications, Inc		53,935
	44,966	*	Vertex Pharmaceuticals, Inc		8,272
	7,996		VF Corp		695
	163,858		Viacom, Inc (Class B)		4,600
	1,208,255		Visa, Inc (Class A)		188,717
	34,978		Vistra Energy Corp		910
	1,877		VMware, Inc (Class A)		339
	4,051		Vornado Realty Trust		273
	190,754		Voya Financial, Inc		9,530
	3,139		Vulcan Materials Co		372
	2,298		W.R. Berkley Corp		195
	52,798		W.W. Grainger, Inc		15,889
	1,246	*	WABCO Holdings, Inc		164
	8,746		Wabtec Corp		645
	60,771		Walgreens Boots Alliance, Inc		3,845
	1,005,331		Walmart, Inc		98,050
	650,836		Walt Disney Co		72,262
	6,253		Waste Connections, Inc		554
	226,255		Waste Management, Inc		23,510
	1,804	*	Waters Corp		454
	1,316	*,e	Wayfair, Inc		195

245

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	7,490		WEC Energy Group, Inc	$	592
	1,187	*	WellCare Health Plans, Inc		320
	2,198,032		Wells Fargo & Co		106,209
	38,867		Welltower, Inc		3,016
	6,902		Western Digital Corp		332
	10,577		Western Union Co		195
	1,054		Westlake Chemical Corp		72
	6,002		WestRock Co		230
	40,644		Weyerhaeuser Co		1,071
	1,512		Whirlpool Corp		201
	278,754		Williams Cos, Inc		8,006
	3,089		Willis Towers Watson plc		543
	3,502	*	Workday, Inc		675
	34,342	*	Worldpay, Inc		3,898
	3,896		WP Carey, Inc		305
	495,527	*	WPX Energy, Inc		6,496
	284,171		WR Grace and Co		22,177
	358,619		Wynn Resorts Ltd		42,790
	12,141		Xcel Energy, Inc		682
	5,264		Xerox Corp		168
	270,832		Xilinx, Inc		34,339
	2,961	*,e	XPO Logistics, Inc		159
	4,264		Xylem, Inc		337
	55,103		Yum! Brands, Inc		5,500
	4,876	*	Zayo Group Holdings, Inc		139
	2,744	*	Zillow Group, Inc (Class C)		95
	362,306		Zimmer Biomet Holdings, Inc		46,266
	121,306		Zions Bancorporation		5,509
	191,898		Zoetis, Inc		19,318
	27,968	*	Zscaler, Inc		1,984
			TOTAL UNITED STATES		11,272,092
URUGUAY - 0.1%
	2,855,359		Arcos Dorados Holdings, Inc		20,473
			TOTAL URUGUAY		20,473
ZAMBIA - 0.1%
	1,026,407		First Quantum Minerals Ltd		11,636
			TOTAL ZAMBIA		11,636
			TOTAL COMMON STOCKS		20,018,207
			(Cost $18,545,176)
PURCHASED OPTIONS - 0.0%
UNITED STATES - 0.0%
	1,100,000		Chicago Board Options Exchange SPX Volatility Index		440
			TOTAL UNITED STATES		440
			TOTAL PURCHASED OPTIONS		440
			(Cost $856)

246

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES		COMPANY	VALUE (000)
RIGHTS / WARRANTS - 0.0%
CHINA - 0.0%
	10,222	Xinjiang Goldwind Science & Technology Co Ltd	$	4
		TOTAL CHINA		4
INDIA - 0.0%
	520,271	Vodafone Idea Ltd		43
		TOTAL INDIA		43
THAILAND - 0.0%
	10,088	BTS Group Holdings PCL		0	^
		TOTAL THAILAND		0	^
		TOTAL RIGHTS / WARRANTS		47
		(Cost $72)

PRINCIPAL		ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 2.0%
GOVERNMENT AGENCY DEBT - 0.1%
$	24,220,000	Federal Home Loan Bank (FHLB)		2.250	%	04/01/19	24,220
		TOTAL GOVERNMENT AGENCY DEBT					24,220
TREASURY DEBT - 0.7%
	30,030,000	United States Treasury Bill		2.380-2.386		04/02/19	30,028
	17,400,000	United States Treasury Bill		2.372-2.393		04/11/19	17,388
	3,900,000	United States Treasury Bill		2.396		04/18/19	3,896
	45,900,000	United States Treasury Bill		2.395		04/30/19	45,812
	46,000,000	United States Treasury Bill		2.398		05/07/19	45,890
		TOTAL TREASURY DEBT					143,014
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.2%
CERTIFICATE OF DEPOSIT - 0.2%
	4,000,000	Australia & New Zealand Banking Group Ltd		2.882		01/17/20	4,008
	6,000,000	Australia & New Zealand Banking Group Ltd		2.656		04/27/20	6,000
	7,000,000	Credit Agricole		2.642		04/17/19	7,000
	12,000,000	Lloyds Bank plc		2.649		09/26/19	12,000
	6,000,000	Mizuho Bank Ltd		2.670		04/02/19	6,000
		TOTAL CERTIFICATE OF DEPOSIT					35,008
COMMERCIAL PAPER - 0.2%
	5,000,000	Bedford Row Funding Corp		2.644		04/15/19	5,000
	9,000,000	Can Ast & Can Ltd Jt		0.000		05/01/19	8,978
	7,000,000	Canadian Imperial Bank of Commerce		2.699		10/01/19	7,000
	4,000,000	National Bank of Canada		2.679		07/01/19	4,000
	10,000,000	Natixis NY		0.000		05/01/19	9,979
	9,000,000	Societe Generale		0.010		04/24/19	8,985
		TOTAL COMMERCIAL PAPER					43,942

247

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
REPURCHASE AGREEMENT - 0.8%
$	25,000,000	p	Citigroup		2.560	%	04/01/19	$	25,000
	10,000,000	q	Citigroup		2.570		04/01/19		10,000
	15,000,000	r	Goldman Sachs		2.510		04/01/19		15,000
	15,000,000	s	HSBC		2.580		04/01/19		15,000
	25,000,000	t	JP Morgan		2.570		04/01/19		25,000
	13,000,000	u	Merrill Lynch		2.600		04/01/19		13,000
	20,000,000	v	Nomura		2.650		04/01/19		20,000
	30,000,000	w	Royal Bank of Scotland Group plc		2.550		04/01/19		30,000
			TOTAL REPURCHASE AGREEMENT						153,000
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						231,950
			TOTAL SHORT-TERM INVESTMENTS						399,184
			(Cost $399,184)
			TOTAL INVESTMENTS - 100.2%						20,417,878
			(Cost $18,945,288)
			OTHER ASSETS & LIABILITIES, NET - (0.2)%						(44,431	)
			NET ASSETS - 100.0%					$	20,373,447

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

*	Non-income producing
^	Amount represents less than $1,000.
†	Security is categorized as Level 3 in the fair value hierarchy.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $187,670,344.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/19, the aggregate value of these securities was $192,775,864 or 1.0% of net assets.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
p	Agreement with Citigroup, 2.56% dated 3/29/19 to be repurchased at $25,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $25,501,000.
q	Agreement with Citigroup, 2.57% dated 3/29/19 to be repurchased at $10,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $10,200,000.
r	Agreement with Goldman Sachs, 2.51% dated 3/29/19 to be repurchased at $15,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $15,300,000.
s	Agreement with HSBC, 2.58% dated 3/29/19 to be repurchased at $15,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $15,300,000.
t	Agreement with JP Morgan, 2.57% dated 3/29/19 to be repurchased at $25,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $25,500,000.
u	Agreement with Merrill Lynch, 2.60% dated 3/29/19 to be repurchased at $13,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $13,260,000.
v	Agreement with Nomura, 2.65% dated 3/29/19 to be repurchased at $20,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $20,400,000.
w	Agreement with Royal Bank of Scotland, 2.55% dated 3/29/19 to be repurchased at $30,000,000 on 04/01/19, collateralized by U.S. Government Agency Securities valued at $30,600,000.

248

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

Cost amounts are in thousands.

Futures contracts outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):

Description	Number of long (short) contracts	Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
MSCI EAFE Index	549	06/21/19	$	50,870	$	51,233	$	363
S&P 500 E Mini Index	658	06/21/19		91,348		93,364		2,016
Total	1,207		$	142,218	$	144,597	$	2,379

Purchased options outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):  

Description/underlying investment	Number of contracts	Notional amount		Exercise price		Expiration date		Value
Chicago Board Options Exchange SPX Volatility Index, Call	11,000	$	856	$	20.00		04/17/19	$	440

Written options outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):  

Description/underlying investment	Number of contracts	Notional amount			Exercise price		Expiration date		Value
Chicago Board Options Exchange SPX Volatility Index, Call	11,000	$	(246	)	$	30.00		04/17/19	$	(165	)

249

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR (unaudited)

March 31, 2019

SECTOR	VALUE (000)			% OF ASSETS
INFORMATION TECHNOLOGY	$	3,490,396			17.1	%
CONSUMER DISCRETIONARY		2,683,995			13.2
FINANCIALS		2,676,306			13.1
HEALTH CARE		2,590,085			12.7
INDUSTRIALS		1,974,464			9.7
CONSUMER STAPLES		1,855,682			9.1
COMMUNICATION SERVICES		1,703,894			8.4
ENERGY		1,218,715			6.0
MATERIALS		1,122,061			5.5
REAL ESTATE		387,690			1.9
UTILITIES		315,406			1.5
SHORT-TERM INVESTMENTS		399,184			2.0
OTHER ASSETS & LIABILITES, NET		(44,431	)		(0.2	)
NET ASSETS	$	20,373,447			100.0	%

250

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2019

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 0.5%
	48,737		Aptiv plc	$	3,874
	2,170	*	Garrett Motion, Inc		32
	18,164		Gentex Corp		376
	101,990		Lear Corp		13,841
	357,694	*,e	Tesla, Inc		100,104
	4,218		Thor Industries, Inc		263
	1,911	*	Visteon Corp		129
			TOTAL AUTOMOBILES & COMPONENTS		118,619
BANKS - 0.3%
	138		BOK Financial Corp		11
	343,515		Comerica, Inc		25,187
	674		East West Bancorp, Inc		33
	3,271		Pinnacle Financial Partners, Inc		179
	3,476		Signature Bank		445
	4,309	*	SVB Financial Group		958
	4,662		Synovus Financial Corp		160
	3,229	*	Texas Capital Bancshares, Inc		176
	1,071,095		Wells Fargo & Co		51,755
	5,921	*	Western Alliance Bancorp		243
			TOTAL BANKS		79,147
CAPITAL GOODS - 5.8%
	78,047		3M Co		16,217
	15,011		A.O. Smith Corp		800
	44		Air Lease Corp		2
	1,350,998		Airbus SE		179,056
	44,838		Allegion plc		4,067
	939,383		Allison Transmission Holdings, Inc		42,197
	126,268		Ametek, Inc		10,476
	4,112		Armstrong World Industries, Inc		327
	841,313		Boeing Co		320,894
	10,400		BWX Technologies, Inc		516
	162,098		Caterpillar, Inc		21,963
	736,593		CNH Industrial NV (NYSE)		7,513
	16,882		Cummins, Inc		2,665
	34,366		Curtiss-Wright Corp		3,895
	33,814		Deere & Co		5,405
	12,390		Donaldson Co, Inc		620
	185,562		Emerson Electric Co		12,705
	30,366		Fastenal Co		1,953
	891,023		Fortive Corp		74,748
	6,433		Fortune Brands Home & Security, Inc		306
	124,528	*	Gardner Denver Holdings, Inc		3,463

251

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	11,988		General Dynamics Corp	$	2,029
	17,448		Graco, Inc		864
	12,529		Harris Corp		2,001
	178,340	*	HD Supply Holdings, Inc		7,731
	4,100		HEICO Corp		389
	7,854		HEICO Corp (Class A)		660
	2,161		Hexcel Corp		149
	1,039,868		Honeywell International, Inc		165,256
	61,220		Hubbell, Inc		7,223
	131,978		Huntington Ingalls		27,346
	55,522		IDEX Corp		8,425
	34,965		Illinois Tool Works, Inc		5,019
	53,906		Ingersoll-Rand plc		5,819
	3,726		Lennox International, Inc		985
	6,536		Lincoln Electric Holdings, Inc		548
	23,710		Lockheed Martin Corp		7,117
	21,184		Masco Corp		833
	261,542	*	Middleby Corp		34,008
	1,732		MSC Industrial Direct Co (Class A)		143
	5,673		Nordson Corp		752
	57,192		Northrop Grumman Corp		15,419
	471,596		Parker-Hannifin Corp		80,935
	5,343		Quanta Services, Inc		202
	40,375		Raytheon Co		7,352
	5,903	*	Resideo Technologies, Inc		114
	80,111		Rockwell Automation, Inc		14,056
	670,812		Roper Industries, Inc		229,397
	9,335	*	Sensata Technologies Holding plc		420
	174,587		Spirit Aerosystems Holdings, Inc (Class A)		15,980
	4,512		Textron, Inc		229
	10,694		Toro Co		736
	78,235		TransDigm Group, Inc		35,518
	142,406	*	United Rentals, Inc		16,270
	205,910	*	Univar, Inc		4,563
	410,498		W.W. Grainger, Inc		123,531
	5,384	*	WABCO Holdings, Inc		710
	3,082	e	Wabtec Corp		227
	2,579		Watsco, Inc		369
	13,635	*	Welbilt, Inc		223
	11,128		Xylem, Inc		880
			TOTAL CAPITAL GOODS		1,534,216
COMMERCIAL & PROFESSIONAL SERVICES - 2.0%
	645,492	*	Cimpress NV		51,723
	9,037		Cintas Corp		1,826
	21,467	*	Copart, Inc		1,301
	130,741	*	CoStar Group, Inc		60,980
	3,465		Equifax, Inc		411
	4,282,260		Experian Group Ltd		115,901
	1,278,663	*	IHS Markit Ltd		69,534
	13,088		KAR Auction Services, Inc		672
	893,196		Nielsen NV		21,142
	53,620		Republic Services, Inc		4,310
	12,489		Robert Half International, Inc		814

252

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	16,207		Rollins, Inc	$	674
	19,492		TransUnion		1,303
	16,951		Verisk Analytics, Inc		2,254
	1,991,749		Waste Connections, Inc		176,449
	212,743		Waste Management, Inc		22,106
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		531,400
CONSUMER DURABLES & APPAREL - 1.9%
	446,184		BRP, Inc (Toronto)		12,380
	501		Brunswick Corp		25
	169,222	*	Capri Holdings Ltd		7,742
	4,852		Carter’s, Inc		489
	226		Columbia Sportswear Co		24
	141,866	*	Deckers Outdoor Corp		20,853
	22,575		DR Horton, Inc		934
	213,235		Essilor International S.A.		23,294
	1,396,278		Hanesbrands, Inc		24,965
	9,605		Hasbro, Inc		817
	499		Lennar Corp (B Shares)		19
	16,043		Lennar Corp (Class A)		788
	307,408	*	Levi Strauss & Co		7,239
	56,191	*	Lululemon Athletica, Inc		9,208
	6,908	*,e	Mattel, Inc		90
	3,123,111		Nike, Inc (Class B)		262,997
	3,888	*	NVR, Inc		10,758
	6,239		Polaris Industries, Inc		527
	9,916,100		Prada S.p.A		29,559
	7,361		Pulte Homes, Inc		206
	6,070	*	Skechers U.S.A., Inc (Class A)		204
	919,701		Sony Corp		38,831
	6,639		Tapestry, Inc		216
	725,438	*	Tempur Sealy International, Inc		41,836
	6,469		Toll Brothers, Inc		234
	15,598	*,e	Under Armour, Inc (Class A)		330
	16,250	*	Under Armour, Inc (Class C)		307
	26,332		VF Corp		2,288
			TOTAL CONSUMER DURABLES & APPAREL		497,160
CONSUMER SERVICES - 1.4%
	5,011	*	Bright Horizons Family Solutions		637
	257,633	*	Chipotle Mexican Grill, Inc (Class A)		182,999
	3,416		Choice Hotels International, Inc		266
	6,531		Darden Restaurants, Inc		793
	4,400		Domino’s Pizza, Inc		1,136
	8,579		Dunkin Brands Group, Inc		644
	11,851		Extended Stay America, Inc		213
	8,950	*	frontdoor, Inc		308
	5,106	*	Grand Canyon Education, Inc		585
	4,583		H&R Block, Inc		110
	10,599	*	Hilton Grand Vacations, Inc		327
	140,526		Hilton Worldwide Holdings, Inc		11,679
	329		International Game Technology plc		4
	183,473		Las Vegas Sands Corp		11,185

253

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	29,898		Marriott International, Inc (Class A)	$	3,740
	78,792		McDonald’s Corp		14,963
	5,202		MGM Resorts International		133
	796,700		Restaurant Brands International, Inc		51,873
	9,355		Service Corp International		376
	14,060	*	ServiceMaster Global Holdings, Inc		657
	7,719		Six Flags Entertainment Corp		381
	853,351		Starbucks Corp		63,438
	4,250		Vail Resorts, Inc		924
	18,624		Wendy’s		333
	10,392		Wyndham Hotels & Resorts, Inc		519
	10,061		Wyndham Worldwide Corp		407
	10,916		Wynn Resorts Ltd		1,302
	164,329		Yum China Holdings, Inc		7,380
	9,462		Yum! Brands, Inc		944
			TOTAL CONSUMER SERVICES		358,256
DIVERSIFIED FINANCIALS - 3.4%
	341,658		American Express Co		37,343
	2,687		Ameriprise Financial, Inc		344
	4,077		Capital One Financial Corp		333
	10,996		CBOE Holdings, Inc		1,049
	422,057		Charles Schwab Corp		18,047
	4,329		CME Group, Inc		712
	92,775	*	Credit Acceptance Corp		41,928
	345,717		Discover Financial Services		24,601
	162,795		E*TRADE Financial Corp		7,559
	12,937		Eaton Vance Corp		522
	83,035		Evercore Partners, Inc (Class A)		7,556
	3,957		Factset Research Systems, Inc		982
	7,477		Interactive Brokers Group, Inc (Class A)		388
	1,424,580		IntercontinentalExchange Group, Inc		108,468
	1,859,500		iShares Russell 1000 Growth Index Fund		281,454
	10,440		Lazard Ltd (Class A)		377
	8,941		LPL Financial Holdings, Inc		623
	18,181		MarketAxess Holdings, Inc		4,474
	17,617		Moody’s Corp		3,190
	1,708		Morningstar, Inc		215
	8,717		MSCI, Inc (Class A)		1,733
	88,900		Northern Trust Corp		8,037
	323		OneMain Holdings, Inc		10
	3,953		Raymond James Financial, Inc		318
	895,043		S&P Global, Inc		188,451
	888		Santander Consumer USA Holdings, Inc		19
	13,713		SEI Investments Co		717
	3,037		State Street Corp		200
	3,216,711		Synchrony Financial		102,613
	22,821		T Rowe Price Group, Inc		2,285
	120,638		TD Ameritrade Holding Corp		6,031
	3,518		Virtu Financial, Inc		84
	1,182,979		Voya Financial, Inc		59,102
			TOTAL DIVERSIFIED FINANCIALS		909,765

254

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
ENERGY - 0.8%
	18,887		Anadarko Petroleum Corp	$	859
	13,157	*	Antero Resources Corp		116
	2,068		Apache Corp		72
	33,103		Cabot Oil & Gas Corp		864
	17,017	*	Cheniere Energy, Inc		1,163
	1,023		Cimarex Energy Co		72
	8,577		Concho Resources, Inc		952
	184,019	*	Continental Resources, Inc		8,239
	3,057		Diamondback Energy, Inc		310
	983,978		EOG Resources, Inc		93,655
	92,318		Halliburton Co		2,705
	268,631		Kosmos Energy Ltd		1,674
	17,947		ONEOK, Inc		1,253
	4,638,507	*	Parsley Energy, Inc		89,523
	9,864		Pioneer Natural Resources Co		1,502
	1,340	e	RPC, Inc		15
			TOTAL ENERGY		202,974
FOOD & STAPLES RETAILING - 1.4%
	1,361,547		Costco Wholesale Corp		329,685
	11,301	*	Sprouts Farmers Market, Inc		243
	49,636		Sysco Corp		3,314
	757	*	US Foods Holding Corp		26
	346,166		Walmart, Inc		33,762
			TOTAL FOOD & STAPLES RETAILING		367,030
FOOD, BEVERAGE & TOBACCO - 2.1%
	625,003		Altria Group, Inc		35,894
	5,459		Brown-Forman Corp (Class A)		279
	29,489		Brown-Forman Corp (Class B)		1,556
	13,541		Campbell Soup Co		516
	694,370		Coca-Cola Co		32,538
	433,069		Constellation Brands, Inc (Class A)		75,930
	7,966,996		Davide Campari-Milano S.p.A		78,273
	1,493,812		Fevertree Drinks plc		58,795
	52,364		General Mills, Inc		2,710
	134,620		Hershey Co		15,458
	182,655		Kellogg Co		10,481
	773,823		Keurig Dr Pepper, Inc		21,644
	815		McCormick & Co, Inc		123
	3,199,115	*	Monster Beverage Corp		174,608
	417,435		PepsiCo, Inc		51,157
	77,480	*	Post Holdings, Inc		8,476
			TOTAL FOOD, BEVERAGE & TOBACCO		568,438
HEALTH CARE EQUIPMENT & SERVICES - 4.4%
	4,509	*	Abiomed, Inc		1,288
	237,427	*	Align Technology, Inc		67,508
	248,345		AmerisourceBergen Corp		19,748
	5,637		Baxter International, Inc		458
	2,543		Becton Dickinson & Co		635
	473,463	*	Boston Scientific Corp		18,171

255

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	3,821		Cantel Medical Corp	$	256
	94,415	*	Centene Corp		5,013
	14,669	*	Cerner Corp		839
	1,627		Chemed Corp		521
	451,606		Cigna Corp		72,627
	927		Cooper Cos, Inc		275
	206	*	Covetrus, Inc		7
	1,085,950		CVS Health Corp		58,565
	7,508	*	DaVita, Inc		408
	14,782	*	DexCom, Inc		1,761
	942,982	*	Edwards Lifesciences Corp		180,421
	81,032		Encompass Health Corp		4,732
	110,391	*	Guardant Health, Inc		8,467
	217,856		HCA Holdings, Inc		28,404
	2,225	*	Henry Schein, Inc		134
	4,769		Hill-Rom Holdings, Inc		505
	13,595		Humana, Inc		3,616
	1,674	*	ICU Medical, Inc		401
	34,772	*	IDEXX Laboratories, Inc		7,775
	5,990	*,e	Insulet Corp		570
	5,535	*	Integra LifeSciences Holdings Corp		308
	680,304	*	Intuitive Surgical, Inc		388,168
	660	*	Laboratory Corp of America Holdings		101
	57,188	*	Masimo Corp		7,908
	2,513		McKesson Corp		294
	5,442	*	Molina Healthcare, Inc		773
	3,336	*	Penumbra, Inc		490
	753,995	*	Premier, Inc		26,005
	14,855		Resmed, Inc		1,544
	655,785		Stryker Corp		129,530
	997		Teleflex, Inc		301
	489,948		UnitedHealth Group, Inc		121,145
	9,697	*	Varian Medical Systems, Inc		1,374
	143,446	*	Veeva Systems, Inc		18,198
	4,913	*	WellCare Health Plans, Inc		1,325
	1,984		West Pharmaceutical Services, Inc		219
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,180,788
HOUSEHOLD & PERSONAL PRODUCTS - 1.0%
	213,681		Church & Dwight Co, Inc		15,220
	146,788		Clorox Co		23,554
	16,777		Colgate-Palmolive Co		1,150
	3,986		Energizer Holdings, Inc		179
	570,345		Estee Lauder Cos (Class A)		94,421
	89,979	*	Herbalife Ltd		4,768
	326,500		Kimberly-Clark Corp		40,453
	1,837		Nu Skin Enterprises, Inc (Class A)		88
	753,878		Procter & Gamble Co		78,441
	1,708		Spectrum Brands Holdings, Inc		94
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		258,368
INSURANCE - 0.2%
	200		Alleghany Corp		123
	14,495		American International Group, Inc		624

256

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	25,410		Aon plc	$	4,338
	6,839	*	Arch Capital Group Ltd		221
	528		Axis Capital Holdings Ltd		29
	26,524	*	Berkshire Hathaway, Inc (Class B)		5,328
	780		Brown & Brown, Inc		23
	1,806		Erie Indemnity Co (Class A)		322
	1,664		Everest Re Group Ltd		359
	144	*	Markel Corp		144
	25,051		Marsh & McLennan Cos, Inc		2,352
	575,295		Progressive Corp		41,473
	14		RenaissanceRe Holdings Ltd		2
	5,697		Travelers Cos, Inc		781
			TOTAL INSURANCE		56,119
MATERIALS - 2.1%
	612,656		Albemarle Corp		50,225
	9,147		Avery Dennison Corp		1,034
	8,221	*	Axalta Coating Systems Ltd		207
	758,766	*	Berry Plastics Group, Inc		40,875
	8,572		Celanese Corp (Series A)		845
	17,700		Chemours Co		658
	14,355	*	Crown Holdings, Inc		783
	3,645		Eagle Materials, Inc		307
	12,179		Ecolab, Inc		2,150
	12,448	*	Element Solutions Inc		126
	6,062		FMC Corp		466
	383		Graphic Packaging Holding Co		5
	312,338		International Flavors & Fragrances, Inc		40,226
	4,878		International Paper Co		226
	1,205,948		Linde plc		212,162
	15,562		LyondellBasell Industries AF S.C.A		1,308
	6,123		Martin Marietta Materials, Inc		1,232
	736		NewMarket Corp		319
	320,501		Packaging Corp of America		31,851
	2,082		PPG Industries, Inc		235
	2,617		Royal Gold, Inc		238
	2,533		RPM International, Inc		147
	2,076		Scotts Miracle-Gro Co (Class A)		163
	8,948		Sealed Air Corp		412
	327,254		Sherwin-Williams Co		140,952
	1,234		Silgan Holdings, Inc		37
	8,348		Southern Copper Corp (NY)		331
	824,873		Steel Dynamics, Inc		29,093
	13,054		Vulcan Materials Co		1,546
	3,696		Westlake Chemical Corp		251
	4,839		WR Grace and Co		378
			TOTAL MATERIALS		558,788
MEDIA & ENTERTAINMENT - 15.3%
	2,924,671		Activision Blizzard, Inc		133,160
	401,295	*	Alphabet, Inc (Class A)		472,280
	955,937	*	Alphabet, Inc (Class C)		1,121,610
	35,727	*	AMC Networks, Inc		2,028

257

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	358,319	*	Baidu, Inc (ADR)	$	59,069
	440		Cable One, Inc		432
	241,749		CBS Corp (Class B)		11,490
	12,663	*	Charter Communications, Inc		4,393
	2,297,988		Comcast Corp (Class A)		91,874
	1,246,327	*	Electronic Arts, Inc		126,664
	6,108,528	*	Facebook, Inc		1,018,231
	1,653,341	*	IAC/InterActiveCorp		347,384
	430,007		Interpublic Group of Cos, Inc		9,035
	214	e	Lions Gate Entertainment Corp (Class A)		3
	418	e	Lions Gate Entertainment Corp (Class B)		6
	292,090	*	Live Nation, Inc		18,559
	27	*	Madison Square Garden Co		8
	5,696	e	Match Group, Inc		323
	719,288	*	NetFlix, Inc		256,469
	297,073		Omnicom Group, Inc		21,683
	175,169	e	Sirius XM Holdings, Inc		993
	92,327	*	Take-Two Interactive Software, Inc		8,713
	1,653,013		Tencent Holdings Ltd		76,019
	10,458	*	TripAdvisor, Inc		538
	4,094,280	*	Twitter, Inc		134,620
	1,515,835		Walt Disney Co		168,303
	4,381	*	Zillow Group, Inc (Class A)		150
	9,480	*,e	Zillow Group, Inc (Class C)		329
			TOTAL MEDIA & ENTERTAINMENT		4,084,366
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.0%
	418,398		AbbVie, Inc		33,719
	4,885	*,e	Agios Pharmaceuticals, Inc		329
	1,272,526	*	Alexion Pharmaceuticals, Inc		172,020
	16,288	*	Alkermes plc		594
	349,449		Allergan plc		51,163
	8,794	*	Alnylam Pharmaceuticals, Inc		822
	313,070		Amgen, Inc		59,477
	1,172,254		AstraZeneca plc		93,571
	263,368	*	Biogen Idec, Inc		62,255
	1,073,173	*	BioMarin Pharmaceutical, Inc		95,330
	3,901		Bio-Techne Corp		775
	3,954	*,e	Bluebird Bio, Inc		622
	92,045		Bristol-Myers Squibb Co		4,391
	141,876		Bruker BioSciences Corp		5,454
	112,414	*	Catalent, Inc		4,563
	241,795	*	Celgene Corp		22,811
	143,363	*	Charles River Laboratories International, Inc		20,823
	65,081	*	Elanco Animal Health, Inc		2,087
	928,270		Eli Lilly & Co		120,452
	12,706	*	Exact Sciences Corp		1,101
	30,772	*	Exelixis, Inc		732
	438,455		Gilead Sciences, Inc		28,504
	956,970	*	Illumina, Inc		297,321
	588,915	*	Incyte Corp		50,653
	13,189	*	Ionis Pharmaceuticals, Inc		1,071
	684,772	*	Jazz Pharmaceuticals plc		97,888
	750,825		Johnson & Johnson		104,958

258

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	481,827		Lonza Group AG.	$	149,586
	1,588,915		Merck & Co, Inc		132,150
	2,593	*	Mettler-Toledo International, Inc		1,875
	2,508	*,e	Moderna, Inc		51
	16,744	*	Nektar Therapeutics		563
	9,376	*	Neurocrine Biosciences, Inc		826
	65,426	*	PRA Health Sciences, Inc		7,216
	498,488	*	QIAGEN NV		20,278
	65,633	*	Regeneron Pharmaceuticals, Inc		26,950
	68,786	*	Sage Therapeutics, Inc		10,940
	7,038	*	Sarepta Therapeutics, Inc		839
	11,455	*	Seattle Genetics, Inc		839
	3,313,569		Takeda Pharmaceutical Co Ltd (ADR)		67,497
	782,206	*	Teva Pharmaceutical Industries Ltd (ADR)		12,265
	40,957		Thermo Fisher Scientific, Inc		11,211
	171,968	*	Vertex Pharmaceuticals, Inc		31,634
	7,374	*	Waters Corp		1,856
	3,287,928		Zoetis, Inc		330,996
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,141,058
REAL ESTATE - 0.6%
	37,012		Alexandria Real Estate Equities, Inc		5,276
	67,956		American Tower Corp		13,391
	112,382	*	CBRE Group, Inc		5,557
	1,567		Colony Capital, Inc		8
	3,759		Coresite Realty		402
	33,018		Crown Castle International Corp		4,226
	40,949		Equinix, Inc		18,557
	102,816		Equity Lifestyle Properties, Inc		11,752
	62,831		Extra Space Storage, Inc		6,403
	112,771		Gaming and Leisure Properties, Inc		4,350
	1,866	*	Howard Hughes Corp		205
	1,438		Hudson Pacific Properties		50
	8,005		Lamar Advertising Co		635
	153		Life Storage, Inc		15
	1,568,007		MGM Growth Properties LLC		50,568
	969		Omega Healthcare Investors, Inc		37
	15,689		Public Storage, Inc		3,417
	11,842	*	SBA Communications Corp		2,364
	185,279		Simon Property Group, Inc		33,760
	6,307		Taubman Centers, Inc		334
			TOTAL REAL ESTATE		161,307
RETAILING - 12.2%
	52,948		Advance Auto Parts, Inc		9,029
	106,201	*	Alibaba Group Holding Ltd (ADR)		19,376
	803,463	*	Amazon.com, Inc		1,430,767
	1,195,050	*,e	ASOS plc		49,904
	9,120	*	AutoZone, Inc		9,340
	239,246		Best Buy Co, Inc		17,001
	18,513	*	Booking Holdings, Inc		32,304
	7,068	*	Burlington Stores, Inc		1,107
	1,822,033	*	CarMax, Inc		127,178

259

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	3,585,597	*	Ctrip.com International Ltd (ADR)	$	156,655
	28,106		Dollar General Corp		3,353
	4,435	*	Dollar Tree, Inc		466
	3,476,474		eBay, Inc		129,116
	2,849,265		Expedia, Inc		339,063
	3,006,520	*	Farfetch Ltd		80,905
	5,491	*	Floor & Decor Holdings, Inc		226
	1,484		Gap, Inc		39
	7,615,460	*	Groupon, Inc		27,035
	1,938,121	*	GrubHub, Inc		134,641
	972,277		Home Depot, Inc		186,570
	165,660		Kering		95,023
	361,253		Kohl’s Corp		24,843
	3,677		L Brands, Inc		101
	6,609	*	LKQ Corp		188
	124,413		Lowe’s Companies, Inc		13,620
	1,018	*	Michaels Cos, Inc		12
	11,962		Nordstrom, Inc		531
	37,995	*	O’Reilly Automotive, Inc		14,753
	4,176		Pool Corp		689
	3,456,722	*	Qurate Retail Group, Inc QVC Group		55,238
	294,614		Ross Stores, Inc		27,429
	781,344		Tiffany & Co		82,471
	457,430		TJX Companies, Inc		24,340
	12,947		Tractor Supply Co		1,266
	384,481	*	Ulta Beauty, Inc		134,080
	7,760	*	Urban Outfitters, Inc		230
	66,557	*,e	Wayfair, Inc		9,880
	2,379	e	Williams-Sonoma, Inc		134
			TOTAL RETAILING		3,238,903
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.3%
	1,103,062	*	Advanced Micro Devices, Inc		28,150
	5,979		Analog Devices, Inc		629
	2,690,095		Applied Materials, Inc		106,689
	697,334		Broadcom, Inc		209,695
	451,073		Cypress Semiconductor Corp		6,730
	1,168,468		Intel Corp		62,747
	335,819		Kla-Tencor Corp		40,100
	571,591		Lam Research Corp		102,321
	16,314		Marvell Technology Group Ltd		325
	176,448		Maxim Integrated Products, Inc		9,382
	24,582	e	Microchip Technology, Inc		2,039
	499,837	*	Micron Technology, Inc		20,658
	5,663		MKS Instruments, Inc		527
	4,524		Monolithic Power Systems, Inc		613
	485,701		NVIDIA Corp		87,213
	2,200		NXP Semiconductors NV		195
	1,103,387	*	ON Semiconductor Corp		22,697
	191,009		Skyworks Solutions, Inc		15,754
	3,616		Teradyne, Inc		144
	273,823		Texas Instruments, Inc		29,044
	4,327		Universal Display Corp		661
	11,154		Versum Materials, Inc		561

260

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,114,417		Xilinx, Inc	$	141,297
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		888,171
SOFTWARE & SERVICES - 24.7%
	6,083	*	2U, Inc		431
	458,908		Accenture plc		80,777
	1,112,804	*	Adobe, Inc		296,551
	156,201	*,g	Adyen NV		122,517
	1,804,918	*	Akamai Technologies, Inc		129,431
	5,005		Alliance Data Systems Corp		876
	8,802	*	Ansys, Inc		1,608
	6,981	*	Aspen Technology, Inc		728
	182,901	*	Atlassian Corp plc		20,556
	19,473	*	Autodesk, Inc		3,034
	1,594,180		Automatic Data Processing, Inc		254,654
	170,613	*	Black Knight, Inc		9,298
	594,724		Booz Allen Hamilton Holding Co		34,577
	12,249		Broadridge Financial Solutions, Inc		1,270
	29,503	*	Cadence Design Systems, Inc		1,874
	13,229		CDK Global, Inc		778
	3,969	*	Ceridian HCM Holding, Inc		204
	14,295		Citrix Systems, Inc		1,425
	147,026		Cognizant Technology Solutions Corp (Class A)		10,652
	7,898	*	DocuSign, Inc		409
	394	*,e	Elastic NV		31
	5,424	*	EPAM Systems, Inc		917
	2,554	*	Euronet Worldwide, Inc		364
	3,030	*	Fair Isaac Corp		823
	73,854		Fidelity National Information Services, Inc		8,353
	12,134	*	FireEye, Inc		204
	6,061	*	First American Corp		226
	157,298	*	First Data Corp		4,132
	42,131	*	Fiserv, Inc		3,719
	9,008	*	FleetCor Technologies, Inc		2,221
	14,924	*	Fortinet, Inc		1,253
	9,356	*	Gartner, Inc		1,419
	6,305		Genpact Ltd		222
	16,787		Global Payments, Inc		2,292
	960,603	*	GoDaddy, Inc		72,228
	9,072	*	Guidewire Software, Inc		881
	218,587		International Business Machines Corp		30,843
	2,819,787		Intuit, Inc		737,121
	8,139		Jack Henry & Associates, Inc		1,129
	96,467		LogMeIn, Inc		7,727
	6,848	*	Manhattan Associates, Inc		377
	1,951,708		MasterCard, Inc (Class A)		459,530
	13,485,166		Microsoft Corp		1,590,440
	91,807	*	Nutanix, Inc		3,465
	57,483	*	Okta, Inc		4,756
	24,763		Oracle Corp		1,330
	270,303	*	Palo Alto Networks, Inc		65,651
	375,099		Paychex, Inc		30,083
	5,083	*	Paycom Software, Inc		961

261

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	6,454,605	*	PayPal Holdings, Inc	$	670,246
	4,195		Pegasystems, Inc		273
	54,509	*	Pluralsight, Inc		1,730
	5,189	*	Proofpoint, Inc		630
	12,357	*	PTC, Inc		1,139
	7,578	*	RealPage, Inc		460
	18,714	*	Red Hat, Inc		3,419
	233,152	*	RingCentral, Inc		25,134
	1,151,371		Sabre Corp		24,628
	4,545,242	*	salesforce.com, Inc		719,830
	917,659	*	ServiceNow, Inc		226,194
	1,236	*	SolarWinds Corp		24
	15,479	*	Splunk, Inc		1,929
	146,209	*	Square, Inc		10,954
	21,364		SS&C Technologies Holdings, Inc		1,361
	2,129	e	Switch, Inc		22
	1,206	*	Synopsys, Inc		139
	7,546	*	Tableau Software, Inc		960
	8,408	*	Teradata Corp		367
	50,628		Total System Services, Inc		4,810
	9,327	*	Twilio, Inc		1,205
	4,239	*	Tyler Technologies, Inc		866
	3,215	*	Ultimate Software Group, Inc		1,061
	11,822	*	VeriSign, Inc		2,146
	4,991,500		Visa, Inc (Class A)		779,622
	7,588		VMware, Inc (Class A)		1,370
	14,067		Western Union Co		260
	4,357	*	WEX, Inc		837
	15,344	*	Workday, Inc		2,959
	2,621	*	Worldpay, Inc		298
	32,632	*	Zendesk, Inc		2,774
	1,090,351	*	Zscaler, Inc		77,339
			TOTAL SOFTWARE & SERVICES		6,569,334
TECHNOLOGY HARDWARE & EQUIPMENT - 6.1%
	31,190		Amphenol Corp (Class A)		2,946
	5,552,793		Apple, Inc		1,054,753
	547,417	*	Arista Networks, Inc		172,141
	395,280		CDW Corp		38,093
	2,369,991		Cisco Systems, Inc		127,956
	17,481		Cognex Corp		889
	1,890	*	Coherent, Inc		268
	368,019	*	Dell Technologies, Inc		21,599
	30,909	*	F5 Networks, Inc		4,851
	721		Flir Systems, Inc		34
	4,008	*	IPG Photonics Corp		608
	2,121		Littelfuse, Inc		387
	731,435		Motorola, Inc		102,708
	87,363		National Instruments Corp		3,875
	11,345	*	NCR Corp		310
	26,670		NetApp, Inc		1,849
	8,212,254	e	Nokia Corp		46,974
	16,419	*	Pure Storage, Inc		358
	105,694	e	Ubiquiti Networks, Inc		15,823

262

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY			VALUE (000)
	155,732	*	Zebra Technologies Corp (Class A)			$	32,631
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT				1,629,053
TELECOMMUNICATION SERVICES - 0.5%
	1,367,500		Softbank Group Corp				133,299
	21,204	*	T-Mobile US, Inc				1,465
	23,637	*	Zayo Group Holdings, Inc				672
			TOTAL TELECOMMUNICATION SERVICES				135,436
TRANSPORTATION - 1.5%
	995,875		American Airlines Group, Inc				31,629
	14,458		CH Robinson Worldwide, Inc				1,258
	436,122		CSX Corp				32,631
	48,185		Delta Air Lines, Inc				2,489
	18,233		Expeditors International of Washington, Inc				1,384
	25,812		FedEx Corp				4,683
	1,129	*	Genesee & Wyoming, Inc (Class A)				98
	9,764		JB Hunt Transport Services, Inc				989
	4,205		Landstar System, Inc				460
	211,128	*	Lyft Inc (Class A)				16,529
	6,991		Old Dominion Freight Line				1,009
	464		Schneider National, Inc				10
	558,699		Southwest Airlines Co				29,002
	1,168,467	*	Spirit Airlines, Inc				61,765
	1,218,509		Union Pacific Corp				203,735
	202,034		United Parcel Service, Inc (Class B)				22,575
	12,792	*,e	XPO Logistics, Inc				687
			TOTAL TRANSPORTATION				410,933
			TOTAL COMMON STOCKS				26,479,629
			(Cost $20,667,836)
PRINCIPAL			ISSUER	RATE	MATURITY DATE
SHORT-TERM INVESTMENTS - 0.7%
GOVERNMENT AGENCY DEBT - 0.3%
$	87,300,000		Federal Home Loan Bank (FHLB)	2.250%	04/01/19		87,300
			TOTAL GOVERNMENT AGENCY DEBT				87,300
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.4%
	108,404,864	c	State Street Navigator Securities Lending Government Money Market Portfolio				108,405
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES				108,405
			TOTAL SHORT-TERM INVESTMENTS				195,705
			(Cost $195,705)
			TOTAL INVESTMENTS - 100.2%				26,675,334
			(Cost $20,863,541)
			OTHER ASSETS & LIABILITIES, NET - (0.2)%				(58,963)
			NET ASSETS - 100.0%			$	26,616,371

263

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

	Abbreviation(s):
ADR	American Depositary Receipt
*	Non-income producing
c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $101,955,974.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/19, the aggregate value of these securities was $122,516,554 or 0.5% of net assets.
	Cost amounts are in thousands.

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND

EQUITY INDEX ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2019

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.6%
AUTOMOBILES & COMPONENTS - 0.7%
	60,563		Adient plc	$	785
	60,325	*	American Axle & Manufacturing Holdings, Inc		863
	174,198		Aptiv plc		13,847
	131,330		BorgWarner, Inc		5,044
	37,696		Cooper Tire & Rubber Co		1,127
	12,534	*	Cooper-Standard Holding, Inc		589
	76,541		Dana Holding Corp		1,358
	19,677	*	Dorman Products, Inc		1,733
	2,585,495		Ford Motor Co		22,701
	25,297	*	Fox Factory Holding Corp		1,768
	50,131	*	Garrett Motion, Inc		738
	860,162		General Motors Co		31,912
	173,624		Gentex Corp		3,591
	26,543	*	Gentherm, Inc		978
	137,668		Goodyear Tire & Rubber Co		2,499
	115,779		Harley-Davidson, Inc		4,129
	17,506		LCI Industries, Inc		1,345
	39,163		Lear Corp		5,315
	36,302	*	Modine Manufacturing Co		503
	13,147	*,e	Motorcar Parts of America, Inc		248
	5,808	*	Shiloh Industries, Inc		32
	24,709		Spartan Motors, Inc		218
	15,087		Standard Motor Products, Inc		741
	20,247	*	Stoneridge, Inc		584
	17,815		Superior Industries International, Inc		85
	28,062		Tenneco, Inc		622
	90,379	*,e	Tesla, Inc		25,293
	35,644		Thor Industries, Inc		2,223
	15,398		Tower International, Inc		324
	22,699	*	Visteon Corp		1,529
	22,457		Winnebago Industries, Inc		699
			TOTAL AUTOMOBILES & COMPONENTS		133,423
BANKS - 5.7%
	12,408		1st Source Corp		557
	4,570		ACNB Corp		169
	7,958	*	Allegiance Bancshares, Inc		268
	5,882		American National Bankshares, Inc		205
	26,136		Ameris Bancorp		898
	7,069	*	Ames National Corp		194
	8,183		Arrow Financial Corp		269
	125,355		Associated Banc-Corp		2,676
	14,762	*	Atlantic Capital Bancshares, Inc		263
	43,167	*	Axos Financial, Inc		1,250

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	31,112		Banc of California, Inc	$	431
	11,574		Bancfirst Corp		604
	62,103		BancorpSouth Bank		1,753
	5,966,180		Bank of America Corp		164,607
	11,787		Bank of Commerce Holdings		124
	23,380		Bank of Hawaii Corp		1,844
	7,728		Bank of Marin Bancorp		314
	36,956		Bank of NT Butterfield & Son Ltd		1,326
	82,422		Bank OZK		2,389
	12,265		BankFinancial Corp		182
	74,384		BankUnited		2,484
	3,897		Bankwell Financial Group, Inc		114
	23,725		Banner Corp		1,285
	11,016		Bar Harbor Bankshares		285
	6,936	*	Baycom Corp		157
	509,183		BB&T Corp		23,692
	7,059		BCB Bancorp, Inc		95
	22,749		Berkshire Hills Bancorp, Inc		620
	17,706		Blue Hills Bancorp, Inc		423
	15,941		BOK Financial Corp		1,300
	59,217		Boston Private Financial Holdings, Inc		649
	13,328		Bridge Bancorp, Inc		391
	54,590		Brookline Bancorp, Inc		786
	12,987		Bryn Mawr Bank Corp		469
	6,346	*	BSB Bancorp, Inc		208
	6,436	e	Business First Bancshares, Inc		158
	5,576	*	Byline Bancorp, Inc		103
	2,353		C&F Financial Corp		119
	65,383		Cadence BanCorp		1,213
	2,502		Cambridge Bancorp		207
	11,436		Camden National Corp		477
	9,158		Capital City Bank Group, Inc		199
	92,364		Capitol Federal Financial		1,233
	5,956		Capstar Financial Holdings, Inc		86
	10,298		Carolina Financial Corp		356
	40,414		Cathay General Bancorp		1,370
	12,633		CBTX, Inc		410
	50,378		Centerstate Banks of Florida, Inc		1,200
	21,511		Central Pacific Financial Corp		620
	6,214		Central Valley Community Bancorp		121
	2,245		Century Bancorp, Inc		164
	48,933		Chemical Financial Corp		2,014
	2,189		Chemung Financial Corp		103
	74,083		CIT Group, Inc		3,554
	1,568,734		Citigroup, Inc		97,606
	9,568		Citizens & Northern Corp		240
	308,096		Citizens Financial Group, Inc		10,013
	10,955		City Holding Co		835
	7,262		Civista Bancshares, Inc		159
	9,772		CNB Financial Corp		247
	6,453		Codorus Valley Bancorp, Inc		138
	51,998		Columbia Banking System, Inc		1,700
	33,673	*	Columbia Financial, Inc		528
	107,061		Comerica, Inc		7,850

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	59,019		Commerce Bancshares, Inc	$	3,427
	4,712		Commerce Union Bancshares, Inc		105
	35,397		Community Bank System, Inc		2,116
	15,668		Community Bankers Trust Corp		115
	2,846		Community Financial Corp		81
	11,638		Community Trust Bancorp, Inc		478
	21,722		ConnectOne Bancorp, Inc		428
	3,700		County Bancorp, Inc		65
	38,938		Cullen/Frost Bankers, Inc		3,780
	19,196	*	Customers Bancorp, Inc		351
	75,634		CVB Financial Corp		1,592
	23,810		Dime Community Bancshares		446
	22,688	*	Eagle Bancorp, Inc		1,139
	93,759		East West Bancorp, Inc		4,498
	4,525	*	Entegra Financial Corp		102
	6,481		Enterprise Bancorp, Inc		186
	16,077		Enterprise Financial Services Corp		655
	7,477	*	Equity Bancshares, Inc		215
	6,121		ESSA Bancorp, Inc		94
	55,323	*	Essent Group Ltd		2,404
	3,168		Evans Bancorp, Inc		113
	6,654	e	Farmers & Merchants Bancorp, Inc		200
	18,150		Farmers National Banc Corp		250
	4,563		FB Financial Corp		145
	6,481		Federal Agricultural Mortgage Corp (Class C)		469
	15,456		Fidelity Southern Corp		423
	510,699		Fifth Third Bancorp		12,880
	10,211		Financial Institutions, Inc		278
	20,427		First Bancorp (NC)		710
	114,850		First Bancorp (Puerto Rico)		1,316
	6,485		First Bancorp, Inc		162
	6,018		First Bancshares, Inc		186
	26,747		First Busey Corp		653
	6,176		First Business Financial Services, Inc		124
	5,135		First Citizens Bancshares, Inc (Class A)		2,091
	69,402		First Commonwealth Financial Corp		874
	12,139		First Community Bancshares, Inc		402
	15,452		First Defiance Financial Corp		444
	68,200		First Financial Bancorp		1,641
	46,159		First Financial Bankshares, Inc		2,667
	8,330		First Financial Corp		350
	6,257		First Financial Northwest, Inc		99
	19,660		First Foundation, Inc		267
	3,022	e	First Guaranty Bancshares, Inc		62
	71,845		First Hawaiian, Inc		1,872
	220,520		First Horizon National Corp		3,083
	4,089		First Internet Bancorp		79
	18,329		First Interstate Bancsystem, Inc		730
	29,933		First Merchants Corp		1,103
	7,120		First Mid-Illinois Bancshares, Inc		237
	73,424		First Midwest Bancorp, Inc		1,502
	7,602		First Northwest Bancorp		118
	15,462		First of Long Island Corp		339

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	107,798		First Republic Bank	$	10,829
	15,789		Flagstar Bancorp, Inc		520
	20,105		Flushing Financial Corp		441
	181,165		FNB Corp		1,920
	8,854		Franklin Financial Network, Inc		257
	119,869		Fulton Financial Corp		1,856
	14,703		German American Bancorp, Inc		432
	55,696		Glacier Bancorp, Inc		2,232
	7,809		Great Southern Bancorp, Inc		405
	42,914		Great Western Bancorp, Inc		1,356
	2,003		Greene County Bancorp, Inc		61
	1,224		Guaranty Bancshares, Inc		36
	59,807		Hancock Holding Co		2,416
	23,963		Hanmi Financial Corp		510
	9,284	*	HarborOne Bancorp, Inc		160
	17,800		Heartland Financial USA, Inc		759
	25,661		Heritage Commerce Corp		311
	22,188		Heritage Financial Corp		669
	54,190		Hilltop Holdings, Inc		989
	997		Hingham Institution for Savings		171
	4,264		Home Bancorp, Inc		142
	112,204		Home Bancshares, Inc		1,971
	15,022	*	HomeStreet, Inc		396
	13,541		HomeTrust Bancshares, Inc		341
	93,574		Hope Bancorp, Inc		1,224
	23,268		Horizon Bancorp		374
	6,001	*	Howard Bancorp, Inc		89
	701,072		Huntington Bancshares, Inc		8,890
	35,117		IBERIABANK Corp		2,518
	6,123	*,e	Impac Mortgage Holdings, Inc		24
	19,246		Independent Bank Corp (MA)		1,559
	17,558		Independent Bank Corp (MI)		378
	20,253		Independent Bank Group, Inc		1,039
	40,567		International Bancshares Corp		1,543
	5,550		Investar Holding Corp		126
	186,863		Investors Bancorp, Inc		2,214
	2,186,405		JPMorgan Chase & Co		221,330
	83,674		Kearny Financial Corp		1,077
	684,052		Keycorp		10,774
	32,502		Lakeland Bancorp, Inc		485
	18,387		Lakeland Financial Corp		831
	6,780		LCNB Corp		116
	33,647		LegacyTexas Financial Group, Inc		1,258
	4,628	*,e	LendingTree, Inc		1,627
	14,926	e	Live Oak Bancshares, Inc		218
	92,145		M&T Bank Corp		14,469
	19,210		Macatawa Bank Corp		191
	4,666	*	Malvern Bancorp, Inc		94
	13,586		MBT Financial Corp		136
	12,428		Mercantile Bank Corp		407
	10,918		Merchants Bancorp		235
	35,757		Meridian Bancorp, Inc		561
	20,574		Meta Financial Group, Inc		405
	4,420	*	Metropolitan Bank Holding Corp		154

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	210,298	*	MGIC Investment Corp	$	2,774
	1,778		Middlefield Banc Corp		73
	10,800		Midland States Bancorp, Inc		260
	6,195		Midsouth Bancorp, Inc		71
	7,821		MidWestOne Financial Group, Inc		213
	34,360	*	Mr Cooper Group, Inc		330
	3,816		MutualFirst Financial, Inc		114
	19,324		National Bank Holdings Corp		643
	5,351		National Bankshares, Inc		229
	7,588	*	National Commerce Corp		298
	31,726		NBT Bancorp, Inc		1,142
	305,096		New York Community Bancorp, Inc		3,530
	6,480	*	Nicolet Bankshares, Inc		386
	38,864	*	NMI Holdings, Inc		1,005
	5,235		Northeast Bancorp		108
	33,024		Northfield Bancorp, Inc		459
	5,019		Northrim BanCorp, Inc		173
	69,442		Northwest Bancshares, Inc		1,178
	4,425	e	Norwood Financial Corp		136
	30,487		OceanFirst Financial Corp		734
	33,903		OFG Bancorp		671
	3,155	e	Ohio Valley Banc Corp		114
	6,461		Old Line Bancshares, Inc		161
	90,192		Old National Bancorp		1,479
	21,667		Old Second Bancorp, Inc		273
	14,808		Opus Bank		293
	11,057		Origin Bancorp, Inc		376
	26,521		Oritani Financial Corp		441
	5,318		Orrstown Financial Services, Inc		99
	11,579	*	Pacific Mercantile Bancorp		88
	28,237		Pacific Premier Bancorp, Inc		749
	81,519		PacWest Bancorp		3,066
	9,690		Park National Corp		918
	4,177		Parke Bancorp, Inc		87
	13,465		PCSB Financial Corp		264
	11,582		Peapack Gladstone Financial Corp		304
	2,964		Penns Woods Bancorp, Inc		122
	9,540		PennyMac Financial Services, Inc		212
	3,256		Peoples Bancorp of North Carolina, Inc		87
	12,623		Peoples Bancorp, Inc		391
	5,712		Peoples Financial Services Corp		258
	240,181		People’s United Financial, Inc		3,949
	9,341		People’s Utah Bancorp		246
	50,971		Pinnacle Financial Partners, Inc		2,788
	306,119		PNC Financial Services Group, Inc		37,549
	62,207		Popular, Inc		3,243
	8,859		Preferred Bank		398
	8,456		Premier Financial Bancorp, Inc		133
	48,016		Prosperity Bancshares, Inc		3,316
	3,260	*	Provident Bancorp, Inc		74
	45,191		Provident Financial Services, Inc		1,170
	6,101		Prudential Bancorp, Inc		106
	8,729		QCR Holdings, Inc		296

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	122,609		Radian Group, Inc	$	2,543
	9,265		RBB Bancorp		174
	686,645		Regions Financial Corp		9,716
	30,881		Renasant Corp		1,045
	6,104		Republic Bancorp, Inc (Class A)		273
	34,776	*	Republic First Bancorp, Inc		183
	13,238		Riverview Bancorp, Inc		97
	25,676		S&T Bancorp, Inc		1,015
	22,606		Sandy Spring Bancorp, Inc		707
	28,631	*	Seacoast Banking Corp of Florida		754
	32,848		ServisFirst Bancshares, Inc		1,109
	8,913		Shore Bancshares, Inc		133
	8,511		SI Financial Group, Inc		110
	8,919		Sierra Bancorp		217
	38,410		Signature Bank		4,919
	55,218		Simmons First National Corp (Class A)		1,352
	5,382	*	SmartFinancial, Inc		102
	24,776		South State Corp		1,693
	4,079	*	Southern First Bancshares, Inc		138
	4,139		Southern Missouri Bancorp, Inc		127
	8,140		Southern National Bancorp of Virginia, Inc		119
	20,042		Southside Bancshares, Inc		666
	11,631		Sterling Bancorp, Inc		118
	151,652		Sterling Bancorp/DE		2,825
	16,305		Stock Yards Bancorp, Inc		551
	6,101		Summit Financial Group, Inc		162
	298,334		SunTrust Banks, Inc		17,676
	33,541	*	SVB Financial Group		7,458
	103,301		Synovus Financial Corp		3,549
	116,646		TCF Financial Corp		2,413
	5,870		Territorial Bancorp, Inc		158
	35,836	*	Texas Capital Bancshares, Inc		1,956
	34,383		TFS Financial Corp		566
	35,393	*	The Bancorp, Inc		286
	4,645		Timberland Bancorp, Inc		130
	10,641		Tompkins Trustco, Inc		809
	46,422		TowneBank		1,149
	19,212		Trico Bancshares		755
	16,178	*	Tristate Capital Holdings, Inc		331
	10,668	*	Triumph Bancorp, Inc		314
	71,043		Trustco Bank Corp NY		551
	49,168		Trustmark Corp		1,654
	26,057		UMB Financial Corp		1,669
	161,706		Umpqua Holdings Corp		2,668
	42,326		Union Bankshares Corp		1,368
	2,885	e	Union Bankshares, Inc		130
	72,013		United Bankshares, Inc		2,610
	51,942		United Community Banks, Inc		1,295
	34,307		United Community Financial Corp		321
	36,948		United Financial Bancorp, Inc (New)		530
	9,461		United Security Bancshares		100
	5,346		Unity Bancorp, Inc		101
	19,117		Univest Corp of Pennsylvania		468
	995,434		US Bancorp		47,970

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	216,752		Valley National Bancorp	$	2,076
	22,054		Veritex Holdings, Inc		534
	19,235		Walker & Dunlop, Inc		979
	50,737		Washington Federal, Inc		1,466
	10,818		Washington Trust Bancorp, Inc		521
	19,189		Waterstone Financial, Inc		316
	67,195		Webster Financial Corp		3,405
	2,733,483		Wells Fargo & Co		132,082
	35,721		WesBanco, Inc		1,420
	11,970		West Bancorporation, Inc		248
	18,981		Westamerica Bancorporation		1,173
	68,448	*	Western Alliance Bancorp		2,809
	19,137		Western New England Bancorp, Inc		177
	38,890		Wintrust Financial Corp		2,618
	37,123		WSFS Financial Corp		1,433
	132,437		Zions Bancorporation		6,014
			TOTAL BANKS		1,072,657
CAPITAL GOODS - 7.0%
	370,299		3M Co		76,941
	93,763		A.O. Smith Corp		4,999
	29,877		Aaon, Inc		1,380
	23,226		AAR Corp		755
	43,959		Actuant Corp (Class A)		1,071
	24,498		Acuity Brands, Inc		2,940
	24,758		Advanced Drainage Systems, Inc		638
	93,206	*	Aecom Technology Corp		2,765
	24,436	*	Aegion Corp		429
	49,582	*	Aerojet Rocketdyne Holdings, Inc		1,762
	14,335	*	Aerovironment, Inc		981
	39,973		AGCO Corp		2,780
	56,080		Air Lease Corp		1,926
	13,921		Aircastle Ltd		282
	6,904		Alamo Group, Inc		690
	21,082		Albany International Corp (Class A)		1,509
	58,342		Allegion plc		5,292
	4,493		Allied Motion Technologies, Inc		154
	68,688		Allison Transmission Holdings, Inc		3,085
	22,666		Altra Holdings, Inc		704
	13,776	*	Ameresco, Inc		223
	10,171	*	American Woodmark Corp		840
	147,502		Ametek, Inc		12,238
	20,270		Apogee Enterprises, Inc		760
	27,154		Applied Industrial Technologies, Inc		1,615
	274,168		Arconic, Inc		5,239
	30,718		Arcosa, Inc		938
	10,471		Argan, Inc		523
	17,658	*	Armstrong Flooring, Inc		240
	31,329		Armstrong World Industries, Inc		2,488
	15,250		Astec Industries, Inc		576
	15,755	*	Astronics Corp		516
	23,836	*	Atkore International Group, Inc		513
	35,579	*	Axon Enterprise, Inc		1,936

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,364		AZZ, Inc	$	793
	36,264		Barnes Group, Inc		1,864
	41,684	*	Beacon Roofing Supply, Inc		1,341
	3,946	*,e	Blue Bird Corp		67
	6,034	*,e	BlueLinx Holdings, Inc		161
	47,040	*	BMC Stock Holdings, Inc		831
	353,047		Boeing Co		134,659
	30,438		Briggs & Stratton Corp		360
	67,070	*	Builders FirstSource, Inc		895
	66,179		BWX Technologies, Inc		3,281
	14,163	e	Caesarstone Sdot-Yam Ltd		221
	8,775	*	CAI International, Inc		204
	36,112		Carlisle Cos, Inc		4,428
	379,589		Caterpillar, Inc		51,431
	22,344	*	Chart Industries, Inc		2,023
	12,045	*	CIRCOR International, Inc		393
	64,286	*	Colfax Corp		1,908
	14,727		Columbus McKinnon Corp		506
	24,840		Comfort Systems USA, Inc		1,301
	18,016	*	Commercial Vehicle Group, Inc		138
	28,296	*	Continental Building Products Inc		701
	28,721		Crane Co		2,430
	10,574	*	CSW Industrials, Inc		606
	18,660		Cubic Corp		1,049
	96,297		Cummins, Inc		15,202
	31,189		Curtiss-Wright Corp		3,535
	214,314		Deere & Co		34,256
	9,586		DMC Global, Inc		476
	81,746		Donaldson Co, Inc		4,092
	16,771		Douglas Dynamics, Inc		639
	91,263		Dover Corp		8,561
	8,048	*	Ducommun, Inc		350
	11,117	*	DXP Enterprises, Inc		433
	16,954	*	Dycom Industries, Inc		779
	3,733		Eastern Co		103
	285,450		Eaton Corp		22,996
	35,403		EMCOR Group, Inc		2,587
	412,201		Emerson Electric Co		28,223
	15,305		Encore Wire Corp		876
	11,608	*,e	Energous Corp		74
	24,905	*,e	Energy Recovery, Inc		217
	31,570		EnerSys		2,057
	58,642	*,e	Enphase Energy, Inc		541
	15,803		EnPro Industries, Inc		1,019
	18,556		ESCO Technologies, Inc		1,244
	2,576	e	EVI Industries, Inc		98
	51,314	*	Evoqua Water Technologies Corp		646
	187,909		Fastenal Co		12,084
	42,557		Federal Signal Corp		1,106
	82,555		Flowserve Corp		3,727
	91,070		Fluor Corp		3,351
	189,288		Fortive Corp		15,879
	99,180		Fortune Brands Home & Security, Inc		4,722
	9,256	*	Foundation Building Materials, Inc		91

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,098		Franklin Electric Co, Inc	$	1,742
	9,868	*	Freightcar America, Inc		61
	72,418	*	Gardner Denver Holdings, Inc		2,014
	30,738	*	Gates Industrial Corp plc		441
	28,224		GATX Corp		2,155
	4,980	*	Gencor Industries, Inc		62
	41,949	*	Generac Holdings, Inc		2,149
	166,685		General Dynamics Corp		28,216
	5,720,106		General Electric Co		57,144
	22,869	*	Gibraltar Industries, Inc		929
	16,574		Global Brass & Copper Holdings, Inc		571
	17,148	*	GMS, Inc		259
	14,132		Gorman-Rupp Co		480
	104,372		Graco, Inc		5,169
	26,067		GrafTech International Ltd		333
	7,763		Graham Corp		152
	33,088		Granite Construction, Inc		1,428
	44,924	*	Great Lakes Dredge & Dock Corp		400
	19,838		Greenbrier Cos, Inc		639
	20,793		Griffon Corp		384
	23,777		H&E Equipment Services, Inc		597
	79,494		Harris Corp		12,696
	59,172	*	Harsco Corp		1,193
	26,381	*,e	HC2 Holdings, Inc		65
	118,284	*	HD Supply Holdings, Inc		5,128
	26,390		HEICO Corp		2,504
	46,469		HEICO Corp (Class A)		3,906
	17,889	*	Herc Holdings, Inc		697
	57,257		Hexcel Corp		3,960
	44,280		Hillenbrand, Inc		1,839
	481,560		Honeywell International, Inc		76,529
	38,998		Hubbell, Inc		4,601
	28,196		Huntington Ingalls		5,842
	4,796		Hurco Cos, Inc		193
	7,224		Hyster-Yale Materials Handling, Inc		451
	49,969		IDEX Corp		7,582
	5,334	*	IES Holdings, Inc		95
	217,877		Illinois Tool Works, Inc		31,272
	159,921		Ingersoll-Rand plc		17,264
	13,472		Insteel Industries, Inc		282
	62,449		ITT, Inc		3,622
	85,068		Jacobs Engineering Group, Inc		6,396
	47,393	*	JELD-WEN Holding, Inc		837
	22,550		John Bean Technologies Corp		2,072
	598,700		Johnson Controls International plc		22,116
	8,084		Kadant, Inc		711
	17,941		Kaman Corp		1,049
	104,383		KBR, Inc		1,993
	56,290		Kennametal, Inc		2,069
	35,741	*,e	KEYW Holding Corp, The		308
	50,983	*	Kratos Defense & Security Solutions, Inc		797
	52,610		L3 Technologies, Inc		10,857
	4,456	*	Lawson Products, Inc		140

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	5,677	*	LB Foster Co (Class A)	$	107
	22,519		Lennox International, Inc		5,954
	36,237		Lincoln Electric Holdings, Inc		3,039
	7,273		Lindsay Corp		704
	163,564		Lockheed Martin Corp		49,095
	12,223	*	Lydall, Inc		287
	22,630	*	Manitowoc Co, Inc		371
	201,028		Masco Corp		7,902
	18,516	*	Masonite International Corp		924
	48,078	*	Mastec, Inc		2,313
	38,365	e	Maxar Technologies, Inc		154
	33,690	*	Mercury Systems, Inc		2,159
	60,412	*	Meritor, Inc		1,229
	35,939	*	Middleby Corp		4,673
	31,692	*	Milacron Holdings Corp		359
	7,280		Miller Industries, Inc		225
	22,998		Moog, Inc (Class A)		2,000
	64,419	*	MRC Global, Inc		1,126
	25,456		MSC Industrial Direct Co (Class A)		2,105
	40,743		Mueller Industries, Inc		1,277
	104,855		Mueller Water Products, Inc (Class A)		1,053
	10,993	*	MYR Group, Inc		381
	3,534		National Presto Industries, Inc		384
	35,673	*	Navistar International Corp		1,152
	29,151	*	NCI Building Systems, Inc		180
	19,066		NN, Inc		143
	37,392		Nordson Corp		4,955
	104,187		Northrop Grumman Corp		28,089
	6,891	*	Northwest Pipe Co		165
	78,206	*	NOW, Inc		1,092
	5,211	*	NV5 Holdings, Inc		309
	110,096		nVent Electric plc		2,970
	2,354		Omega Flex, Inc		178
	19,593	*	Orion Marine Group, Inc		57
	46,060		Oshkosh Truck Corp		3,461
	74,736		Owens Corning, Inc		3,522
	224,822		PACCAR, Inc		15,319
	84,661		Parker-Hannifin Corp		14,530
	17,097	*	Patrick Industries, Inc		775
	96,376		Pentair plc		4,290
	36,380	*	PGT, Inc		504
	159,236	*,e	Plug Power, Inc		382
	7,077		Powell Industries, Inc		188
	1,801		Preformed Line Products Co		96
	28,783		Primoris Services Corp		595
	18,284	*	Proto Labs, Inc		1,922
	25,291		Quanex Building Products Corp		402
	90,888		Quanta Services, Inc		3,430
	25,955		Raven Industries, Inc		996
	190,157		Raytheon Co		34,624
	16,634	*	RBC Bearings, Inc		2,115
	25,203		Regal-Beloit Corp		2,063
	82,950	*	Resideo Technologies, Inc		1,600

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,757	e	REV Group, Inc	$	96
	75,228	*	Rexnord Corp		1,891
	78,805		Rockwell Automation, Inc		13,827
	66,271		Roper Industries, Inc		22,663
	4,597		Rush Enterprises, Inc		191
	21,510		Rush Enterprises, Inc (Class A)		899
	112,005	*	Sensata Technologies Holding plc		5,042
	29,530		Simpson Manufacturing Co, Inc		1,750
	24,415	*,e	SiteOne Landscape Supply, Inc		1,395
	34,435		Snap-On, Inc		5,390
	66,489		Spirit Aerosystems Holdings, Inc (Class A)		6,086
	30,406	*	SPX Corp		1,058
	29,148	*	SPX FLOW, Inc		930
	8,333		Standex International Corp		612
	103,756		Stanley Black & Decker, Inc		14,128
	18,886	*	Sterling Construction Co, Inc		236
	16,194		Sun Hydraulics Corp		753
	60,603	*,e	Sunrun, Inc		852
	22,563	*	Teledyne Technologies, Inc		5,348
	12,744		Tennant Co		791
	54,792		Terex Corp		1,760
	18,852	*	Textainer Group Holdings Ltd		182
	155,293		Textron, Inc		7,867
	24,419	*	Thermon Group Holdings		599
	37,983		Timken Co		1,657
	33,155		Titan International, Inc		198
	11,613	*	Titan Machinery, Inc		181
	65,756		Toro Co		4,527
	7,431	*	TPI Composites, Inc		213
	31,351		TransDigm Group, Inc		14,233
	40,670	*	Trex Co, Inc		2,502
	34,233	*	Trimas Corp		1,035
	92,156		Trinity Industries, Inc		2,003
	30,588		Triton International Ltd		951
	32,779		Triumph Group, Inc		625
	27,269	*	Tutor Perini Corp		467
	6,567	*	Twin Disc, Inc		109
	54,189	*	United Rentals, Inc		6,191
	534,876		United Technologies Corp		68,940
	79,848	*,h	Univar, Inc		1,769
	44,298		Universal Forest Products, Inc		1,324
	51,264		USG Corp		2,220
	15,302		Valmont Industries, Inc		1,991
	7,860	*	Vectrus, Inc		209
	7,828	*	Veritiv Corp		206
	12,845	*	Vicor Corp		398
	15,334	*,e	Vivint Solar, Inc		76
	29,246		W.W. Grainger, Inc		8,801
	42,603		Wabash National Corp		577
	31,460	*	WABCO Holdings, Inc		4,147
	86,335	e	Wabtec Corp		6,365
	21,705		Watsco, Inc		3,108
	18,825		Watts Water Technologies, Inc (Class A)		1,521

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	88,290	*	Welbilt, Inc	$	1,446
	39,330	*	Wesco Aircraft Holdings, Inc		346
	34,751	*	WESCO International, Inc		1,842
	3,392	*	Willis Lease Finance Corp		144
	22,097	*	Willscot Corp		245
	30,077		Woodward Governor Co		2,854
	121,024		Xylem, Inc		9,566
			TOTAL CAPITAL GOODS		1,320,932
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	40,285		ABM Industries, Inc		1,464
	37,820	*	Acacia Research (Acacia Technologies)		123
	77,675		ACCO Brands Corp		665
	5,238	e	ADT, Inc		34
	49,123	*	Advanced Disposal Services, Inc		1,375
	5,145		Barrett Business Services, Inc		398
	4,266		BG Staffing, Inc		93
	33,472		Brady Corp (Class A)		1,553
	16,522	*	BrightView Holdings, Inc		238
	33,001		Brink’s Co		2,489
	29,675	*	Casella Waste Systems, Inc (Class A)		1,055
	35,493	*	CBIZ, Inc		718
	18,496	*	Ceco Environmental Corp		133
	14,958	*	Cimpress NV		1,199
	55,082		Cintas Corp		11,133
	38,542	*	Clean Harbors, Inc		2,757
	127,578	*	Copart, Inc		7,730
	23,688	*	CoStar Group, Inc		11,049
	84,474		Covanta Holding Corp		1,462
	7,013		CRA International, Inc		354
	27,694		Deluxe Corp		1,211
	20,052		Ennis, Inc		416
	76,115		Equifax, Inc		9,020
	36,012		Exponent, Inc		2,079
	7,582		Forrester Research, Inc		367
	7,620	*	Franklin Covey Co		193
	25,416	*	FTI Consulting, Inc		1,953
	9,864	*	GP Strategies Corp		120
	49,914	e	Healthcare Services Group		1,647
	14,300		Heidrick & Struggles International, Inc		548
	8,893	*	Heritage-Crystal Clean, Inc		244
	43,782		Herman Miller, Inc		1,540
	31,637		HNI Corp		1,148
	15,850	*	Huron Consulting Group, Inc		748
	13,124		ICF International, Inc		999
	247,450	*	IHS Markit Ltd		13,456
	32,837	*	Innerworkings, Inc		119
	25,976		Insperity, Inc		3,212
	44,581		Interface, Inc		683
	88,200		KAR Auction Services, Inc		4,526
	20,372		Kelly Services, Inc (Class A)		449
	18,302		Kforce, Inc		643
	25,171		Kimball International, Inc (Class B)		356
	35,963		Knoll, Inc		680

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	37,013		Korn/Ferry International	$	1,657
	23,849		LSC Communications, Inc		156
	43,803		Manpower, Inc		3,622
	22,585		Matthews International Corp (Class A)		835
	17,061		McGrath RentCorp		965
	13,300	*	Mistras Group, Inc		184
	31,645		Mobile Mini, Inc		1,074
	24,011		MSA Safety, Inc		2,483
	9,774		Multi-Color Corp		488
	33,798		Navigant Consulting, Inc		658
	243,950		Nielsen NV		5,774
	4,961	*	NL Industries, Inc		19
	36,708	*	On Assignment, Inc		2,331
	133,127		Pitney Bowes, Inc		915
	21,796		Quad Graphics, Inc		259
	141,252		Republic Services, Inc		11,354
	20,546		Resources Connection, Inc		340
	79,304		Robert Half International, Inc		5,168
	85,209		Rollins, Inc		3,546
	51,083		RR Donnelley & Sons Co		241
	12,140	*	SP Plus Corp		414
	61,807		Steelcase, Inc (Class A)		899
	49,051	*	Stericycle, Inc		2,669
	9,938		Systemax, Inc		225
	20,907	*,e	Team, Inc		366
	41,281		Tetra Tech, Inc		2,460
	124,580		TransUnion		8,327
	30,336	*	TriNet Group, Inc		1,812
	30,958	*	TrueBlue, Inc		732
	11,006		Unifirst Corp		1,689
	8,321	*	Upwork, Inc		159
	16,280		US Ecology, Inc		911
	104,117		Verisk Analytics, Inc		13,848
	15,178		Viad Corp		854
	5,586		VSE Corp		176
	26,743	*	WageWorks, Inc		1,010
	281,677		Waste Management, Inc		29,269
	5,398	*	Willdan Group, Inc		200
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		200,468
CONSUMER DURABLES & APPAREL - 1.3%
	15,286		Acushnet Holdings Corp		354
	39,523	*	American Outdoor Brands Corp		369
	7,681		Bassett Furniture Industries, Inc		126
	21,459	*	Beazer Homes USA, Inc		247
	54,098		Brunswick Corp		2,723
	69,841		Callaway Golf Co		1,113
	90,698	*	Capri Holdings Ltd		4,149
	27,877		Carter’s, Inc		2,810
	6,102	*	Cavco Industries, Inc		717
	13,611	*	Century Communities, Inc		326
	14,228		Clarus Corp		182
	19,279		Columbia Sportswear Co		2,009

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	45,716	*	CROCS, Inc	$	1,177
	6,895		Culp, Inc		133
	19,292	*	Deckers Outdoor Corp		2,836
	222,088		DR Horton, Inc		9,190
	7,865		Escalade, Inc		88
	18,783		Ethan Allen Interiors, Inc		359
	5,531		Flexsteel Industries, Inc		128
	31,215	*,e	Fossil Group, Inc		428
	69,502	*	Garmin Ltd		6,002
	30,360	*	G-III Apparel Group Ltd		1,213
	74,136	*,e	GoPro, Inc		482
	16,535	*	Green Brick Partners, Inc		145
	6,360		Hamilton Beach Brands Holding Co		137
	244,655		Hanesbrands, Inc		4,374
	74,516		Hasbro, Inc		6,335
	15,207	*	Helen of Troy Ltd		1,763
	7,913		Hooker Furniture Corp		228
	3,727	*	Hovnanian Enterprises, Inc		41
	13,822	*	Installed Building Products Inc		670
	18,443	*,e	iRobot Corp		2,171
	3,583		Johnson Outdoors, Inc		256
	60,650		KB Home		1,466
	36,137		La-Z-Boy, Inc		1,192
	94,275		Leggett & Platt, Inc		3,980
	11,279		Lennar Corp (B Shares)		441
	192,669		Lennar Corp (Class A)		9,458
	12,635	*,e	LGI Homes, Inc		761
	7,210		Lifetime Brands, Inc		68
	63,018	*	Lululemon Athletica, Inc		10,327
	16,714	*	M/I Homes, Inc		445
	13,092	*	Malibu Boats, Inc		518
	8,407		Marine Products Corp		113
	13,690	*	MasterCraft Boat Holdings, Inc		309
	246,470	*,e	Mattel, Inc		3,204
	32,691		MDC Holdings, Inc		950
	26,198	*	Meritage Homes Corp		1,171
	42,399	*	Mohawk Industries, Inc		5,349
	11,320		Movado Group, Inc		412
	3,180		Nacco Industries, Inc (Class A)		122
	22,756	*	Nautilus, Inc		127
	6,504	*	New Home Co, Inc		31
	273,995		Newell Rubbermaid, Inc		4,203
	815,025		Nike, Inc (Class B)		68,633
	2,226	*	NVR, Inc		6,159
	11,750		Oxford Industries, Inc		884
	38,838		Polaris Industries, Inc		3,279
	157,608		Pulte Homes, Inc		4,407
	47,687		PVH Corp		5,815
	35,853		Ralph Lauren Corp		4,649
	29,377	*	Roku, Inc		1,895
	79,579	*	Skechers U.S.A., Inc (Class A)		2,675
	4,660		Skyline Corp		89
	60,523		Steven Madden Ltd		2,048
	12,383		Sturm Ruger & Co, Inc		657

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	5,163		Superior Uniform Group, Inc	$	86
	191,265		Tapestry, Inc		6,214
	79,194	*	Taylor Morrison Home Corp		1,406
	33,646	*	Tempur Sealy International, Inc		1,940
	96,054		Toll Brothers, Inc		3,477
	26,487	*	TopBuild Corp		1,717
	102,085	*	TRI Pointe Homes, Inc		1,290
	28,980		Tupperware Corp		741
	110,698	*,e	Under Armour, Inc (Class A)		2,340
	135,169	*	Under Armour, Inc (Class C)		2,551
	10,905	*	Unifi, Inc		211
	10,485	*	Universal Electronics, Inc		390
	16,444	*	Vera Bradley, Inc		218
	210,527		VF Corp		18,297
	41,550	*	Vista Outdoor, Inc		333
	41,162		Whirlpool Corp		5,470
	17,713	*	William Lyon Homes, Inc		272
	67,978		Wolverine World Wide, Inc		2,429
	11,211	*,e	YETI Holdings, Inc		339
	21,026	*	Zagg, Inc		191
			TOTAL CONSUMER DURABLES & APPAREL		249,030
CONSUMER SERVICES - 2.3%
	33,727	*	Adtalem Global Education, Inc		1,562
	12,233	*	American Public Education, Inc		368
	162,451		ARAMARK Holdings Corp		4,800
	44,487		BBX Capital Corp		263
	64,026	*	Belmond Ltd.		1,596
	76	*	Biglari Holdings, Inc (A Shares)		56
	769	*	Biglari Holdings, Inc (B Shares)		109
	15,173		BJ’s Restaurants, Inc		717
	44,145		Bloomin’ Brands, Inc		903
	61,116		Boyd Gaming Corp		1,672
	36,213	*	Bright Horizons Family Solutions		4,603
	25,489		Brinker International, Inc		1,131
	404,805	*	Caesars Entertainment Corp		3,518
	46,334	*	Career Education Corp		765
	257,356		Carnival Corp		13,053
	11,838		Carriage Services, Inc		228
	27,792	*	Carrols Restaurant Group, Inc		277
	16,727	*	Century Casinos, Inc		152
	31,824	e	Cheesecake Factory		1,557
	60,816	*	Chegg, Inc		2,318
	16,294	*	Chipotle Mexican Grill, Inc (Class A)		11,574
	17,380		Choice Hotels International, Inc		1,351
	23,949		Churchill Downs, Inc		2,162
	12,474	*	Chuy’s Holdings, Inc		284
	9,516	e	Cracker Barrel Old Country Store, Inc		1,538
	82,979		Darden Restaurants, Inc		10,079
	30,312		Dave & Buster’s Entertainment, Inc		1,512
	17,725	*	Del Frisco’s Restaurant Group, Inc		114
	23,487	*	Del Taco Restaurants, Inc		236
	41,277	*	Denny’s Corp		757

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,362		DineEquity, Inc	$	946
	28,536		Domino’s Pizza, Inc		7,365
	43,999	*	Drive Shack, Inc		198
	49,730		Dunkin Brands Group, Inc		3,735
	14,501	*	El Pollo Loco Holdings, Inc		189
	44,594	*	Eldorado Resorts, Inc		2,082
	2,242	*	Empire Resorts, Inc		23
	117,907		Extended Stay America, Inc		2,116
	20,469	*	Fiesta Restaurant Group, Inc		268
	43,198	*	frontdoor, Inc		1,487
	7,389	*	Golden Entertainment, Inc		105
	2,783		Graham Holdings Co		1,901
	32,189	*	Grand Canyon Education, Inc		3,686
	129,519		H&R Block, Inc		3,101
	14,706	*	Habit Restaurants, Inc		159
	65,914	*	Hilton Grand Vacations, Inc		2,033
	183,543		Hilton Worldwide Holdings, Inc		15,254
	76,812	*	Houghton Mifflin Harcourt Co		558
	24,452		Hyatt Hotels Corp		1,775
	76,027	e	International Game Technology plc		988
	18,045		International Speedway Corp (Class A)		787
	10,324	*	J Alexander’s Holdings, Inc		101
	14,716		Jack in the Box, Inc		1,193
	26,055	*	K12, Inc		889
	236,734		Las Vegas Sands Corp		14,431
	62,559	*	Laureate Education, Inc		937
	10,890	*	Lindblad Expeditions Holdings, Inc		166
	185,784		Marriott International, Inc (Class A)		23,240
	28,647		Marriott Vacations Worldwide Corp		2,679
	513,466		McDonald’s Corp		97,507
	326,708		MGM Resorts International		8,383
	7,140	*	Monarch Casino & Resort, Inc		314
	2,378		Nathan’s Famous, Inc		163
	8,091	*,e	Noodles & Co		55
	145,777	*	Norwegian Cruise Line Holdings Ltd		8,012
	18,811	e	Papa John’s International, Inc		996
	76,441	*	Penn National Gaming, Inc		1,536
	60,595	*	Planet Fitness, Inc		4,164
	10,854	*	PlayAGS, Inc		260
	16,455	*	Potbelly Corp		140
	6,547		RCI Hospitality Holdings, Inc		150
	11,433	*	Red Lion Hotels Corp		92
	9,211	*	Red Robin Gourmet Burgers, Inc		265
	48,687		Red Rock Resorts, Inc		1,259
	27,109	*	Regis Corp		533
	110,388		Royal Caribbean Cruises Ltd		12,653
	21,790		Ruth’s Chris Steak House, Inc		558
	37,197	*	Scientific Games Corp (Class A)		760
	30,308	*	SeaWorld Entertainment, Inc		781
	108,167		Service Corp International		4,343
	86,396	*	ServiceMaster Global Holdings, Inc		4,035
	15,620	*	Shake Shack, Inc		924
	48,601		Six Flags Entertainment Corp		2,398
	27,603	*	Sotheby’s (Class A)		1,042

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,984		Speedway Motorsports, Inc	$	145
	794,947		Starbucks Corp		59,096
	15,126		Strategic Education Inc		1,986
	48,860		Texas Roadhouse, Inc (Class A)		3,039
	26,170		Vail Resorts, Inc		5,687
	26,120	*	Weight Watchers International, Inc		526
	134,006		Wendy’s		2,397
	21,048		Wingstop, Inc		1,600
	68,964		Wyndham Hotels & Resorts, Inc		3,448
	68,964		Wyndham Worldwide Corp		2,792
	70,123		Wynn Resorts Ltd		8,367
	236,930		Yum China Holdings, Inc		10,641
	201,427		Yum! Brands, Inc		20,104
			TOTAL CONSUMER SERVICES		432,798
DIVERSIFIED FINANCIALS - 3.5%
	38,253		Affiliated Managers Group, Inc		4,097
	21,134		AG Mortgage Investment Trust		356
	341,429		AGNC Investment Corp		6,146
	271,869		Ally Financial, Inc		7,474
	461,842		American Express Co		50,479
	89,977		Ameriprise Financial, Inc		11,526
	869,212		Annaly Capital Management, Inc		8,683
	70,479		Anworth Mortgage Asset Corp		285
	52,300		Apollo Commercial Real Estate Finance, Inc		952
	36,129	e	Arbor Realty Trust, Inc		469
	22,112		Ares Commercial Real Estate Corp		336
	16,506	e	Arlington Asset Investment Corp (Class A)		131
	26,163	*	ARMOUR Residential REIT, Inc		511
	32,135		Artisan Partners Asset Management, Inc		809
	4,316	e	Associated Capital Group, Inc		171
	129,030		AXA Equitable Holdings, Inc		2,599
	10,240		B. Riley Financial, Inc		171
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		428
	587,875		Bank of New York Mellon Corp		29,646
	166,153		BGC Partners, Inc (Class A)		882
	80,642		BlackRock, Inc		34,464
	73,790		Blackstone Mortgage Trust, Inc		2,550
	30,473	*	Blucora, Inc		1,017
	48,331	*	Cannae Holdings, Inc		1,172
	312,638		Capital One Financial Corp		25,539
	71,072		Capstead Mortgage Corp		610
	74,260		CBOE Holdings, Inc		7,087
	796,304		Charles Schwab Corp		34,050
	7,318		Cherry Hill Mortgage Investment Corp		126
	94,757		Chimera Investment Corp		1,776
	235,176		CME Group, Inc		38,705
	15,440		Cohen & Steers, Inc		653
	56,629		Colony Credit Real Estate, Inc		887
	18,127	*	Cowen Group, Inc		263
	8,085	*	Credit Acceptance Corp		3,654
	7,834	*	Curo Group Holdings Corp		79
	2,179		Diamond Hill Investment Group, Inc		305

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	214,390		Discover Financial Services	$	15,256
	19,156	*	Donnelley Financial Solutions, Inc		285
	33,323		Dynex Capital, Inc		203
	169,137		E*TRADE Financial Corp		7,853
	78,977		Eaton Vance Corp		3,184
	11,344	*	Elevate Credit, Inc		49
	17,368	*,e	Encore Capital Group, Inc		473
	23,911	*	Enova International, Inc		546
	29,096		Evercore Partners, Inc (Class A)		2,648
	22,197		Exantas Capital Corp		236
	38,445	*	Ezcorp, Inc (Class A)		358
	24,832		Factset Research Systems, Inc		6,165
	68,886		Federated Investors, Inc (Class B)		2,019
	96,122	*	FGL Holdings		756
	30,190		FirstCash, Inc		2,611
	12,579	*	Focus Financial Partners, Inc		448
	199,787		Franklin Resources, Inc		6,621
	23,847	e	Gain Capital Holdings, Inc		150
	4,049		GAMCO Investors, Inc (Class A)		83
	231,785		Goldman Sachs Group, Inc		44,500
	31,227		Granite Point Mortgage Trust, Inc		580
	8,938		Great Ajax Corp		123
	33,057	*	Green Dot Corp		2,005
	19,893		Greenhill & Co, Inc		428
	10,099		Hamilton Lane, Inc		440
	15,460		Houlihan Lokey, Inc		709
	47,028		Interactive Brokers Group, Inc (Class A)		2,440
	366,206		IntercontinentalExchange Group, Inc		27,883
	11,369	*	INTL FCStone, Inc		441
	270,619		Invesco Ltd		5,226
	84,385		Invesco Mortgage Capital, Inc		1,333
	181,956		Jefferies Financial Group, Inc		3,419
	7,773		KKR Real Estate Finance Trust, Inc		156
	49,932		Ladder Capital Corp		850
	73,441		Ladenburg Thalmann Financial Services, Inc		208
	76,930		Lazard Ltd (Class A)		2,780
	62,850		Legg Mason, Inc		1,720
	214,482	*	LendingClub Corp		663
	55,907		LPL Financial Holdings, Inc		3,894
	23,522		MarketAxess Holdings, Inc		5,788
	6,533		Marlin Business Services Corp		140
	270,747		MFA Mortgage Investments, Inc		1,968
	26,390		Moelis & Co		1,098
	109,387		Moody’s Corp		19,809
	806,364		Morgan Stanley		34,029
	13,834		Morningstar, Inc		1,743
	54,542		MSCI, Inc (Class A)		10,845
	76,744		NASDAQ OMX Group, Inc		6,714
	166,451		Navient Corp		1,926
	14,990		Nelnet, Inc (Class A)		825
	265,849		New Residential Investment Corp		4,495
	75,449		New York Mortgage Trust, Inc		459
	22,218	*	NewStar Financial, Inc		6
	132,839		Northern Trust Corp		12,010

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	40,173		OM Asset Management plc	$	545
	36,046	*	On Deck Capital, Inc		195
	51,991		OneMain Holdings, Inc		1,651
	7,363		Oppenheimer Holdings, Inc		192
	23,694	e	Orchid Island Capital, Inc		156
	47,765		PennyMac Mortgage Investment Trust		989
	17,372		Pico Holdings, Inc		172
	10,272		Piper Jaffray Cos		748
	13,025		PJT Partners, Inc		544
	33,753	*	PRA Group, Inc		905
	9,591		Pzena Investment Management, Inc (Class A)		78
	86,900		Raymond James Financial, Inc		6,988
	10,497	e	Ready Capital Corp		154
	49,700		Redwood Trust, Inc		803
	8,577	*	Regional Management Corp		209
	165,515		S&P Global, Inc		34,849
	16,951	*	Safeguard Scientifics, Inc		184
	78,809		Santander Consumer USA Holdings, Inc		1,665
	87,401		SEI Investments Co		4,567
	5,338		Silvercrest Asset Management Group, Inc		76
	313,613		SLM Corp		3,108
	153,692		Starwood Property Trust, Inc		3,435
	247,347		State Street Corp		16,278
	47,909		Stifel Financial Corp		2,528
	489,566		Synchrony Financial		15,617
	153,545		T Rowe Price Group, Inc		15,373
	181,531		TD Ameritrade Holding Corp		9,075
	7,897		TPG RE Finance Trust, Inc		155
	131,331		Two Harbors Investment Corp		1,777
	18,355		Virtu Financial, Inc		436
	4,800		Virtus Investment Partners, Inc		468
	103,007		Voya Financial, Inc		5,146
	58,496		Waddell & Reed Financial, Inc (Class A)		1,011
	28,538		Western Asset Mortgage Capital Corp		292
	5,409		Westwood Holdings Group, Inc		191
	84,317		WisdomTree Investments, Inc		595
	4,248	*	World Acceptance Corp		498
			TOTAL DIVERSIFIED FINANCIALS		662,338
ENERGY - 5.1%
	109,725	*	Abraxas Petroleum Corp		137
	1,730		Adams Resources & Energy, Inc		68
	335,121		Anadarko Petroleum Corp		15,241
	132,421	*	Antero Resources Corp		1,169
	260,509		Apache Corp		9,029
	52,623	*	Apergy Corp		2,161
	28,129	*,e	Approach Resources, Inc		10
	9,586		Arch Coal, Inc		875
	85,865		Archrock, Inc		840
	20,832	*	Ardmore Shipping Corp		128
	342,142		Baker Hughes a GE Co		9,484
	12,272	*	Basic Energy Services, Inc		47
	36,376		Berry Petroleum Co LLC		420

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,562	*	Bonanza Creek Energy, Inc	$	330
	33,520	*	C&J Energy Services, Inc		520
	283,011		Cabot Oil & Gas Corp		7,387
	16,011	*	Cactus, Inc		570
	30,573	*	California Resources Corp		786
	145,414	*	Callon Petroleum Co		1,098
	15,028	*,e	CARBO Ceramics, Inc		53
	45,074	*	Carrizo Oil & Gas, Inc		562
	124,454	*	Centennial Resource Development, Inc		1,094
	155,280	*	Cheniere Energy, Inc		10,615
	550,015	*,e	Chesapeake Energy Corp		1,705
	1,259,586		Chevron Corp		155,156
	64,851		Cimarex Energy Co		4,533
	96,211	*	Clean Energy Fuels Corp		297
	128,347	*	CNX Resources Corp		1,382
	128,934		Concho Resources, Inc		14,307
	758,282		ConocoPhillips		50,608
	20,666	*	CONSOL Energy, Inc		707
	64,271	*	Continental Resources, Inc		2,877
	22,043	*,e	Covia Holdings Corp		123
	11,149		CVR Energy, Inc		459
	56,457		Delek US Holdings, Inc		2,056
	280,409	*	Denbury Resources, Inc		575
	310,534	*	Devon Energy Corp		9,800
	55,111		DHT Holdings, Inc		246
	38,317	*,e	Diamond Offshore Drilling, Inc		402
	99,936		Diamondback Energy, Inc		10,147
	20,589	*	Dorian LPG Ltd		132
	27,635	*	Dril-Quip, Inc		1,267
	7,121	*	Earthstone Energy, Inc		50
	56,201	*,e	Energy Fuels, Inc		187
	384,104		EOG Resources, Inc		36,559
	180,649		EQT Corp		3,747
	144,519		Equitrans Midstream Corp		3,148
	14,364	*	Era Group, Inc		166
	17,517		Evolution Petroleum Corp		118
	23,313	*	Exterran Corp		393
	87,596	*,e	Extraction Oil & Gas, Inc		371
	2,801,804	d	Exxon Mobil Corp		226,386
	49,153	*	Forum Energy Technologies, Inc		251
	36,662	*,e	Frank’s International NV		228
	52,498	*,e	Frontline Ltd		339
	15,611	*	FTS International, Inc		156
	32,033		GasLog Ltd		559
	69,477		Golar LNG Ltd		1,465
	26,945		Green Plains Renewable Energy, Inc		449
	109,431	*	Gulfport Energy Corp		878
	42,984	*,e	Halcon Resources Corp		58
	10,340		Hallador Energy Co		54
	593,991		Halliburton Co		17,404
	100,808	*	Helix Energy Solutions Group, Inc		797
	67,802		Helmerich & Payne, Inc		3,767
	180,836		Hess Corp		10,892
	21,135	*	HighPoint Resources Corp		47

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	110,468		HollyFrontier Corp	$	5,443
	23,510	*	Independence Contract Drilling, Inc		65
	20,967	*	International Seaways, Inc		359
	7,203	*	ION Geophysical Corp		104
	823	*,e	Isramco, Inc		93
	22,747	*,e	Jagged Peak Energy, Inc		238
	22,628	*	Keane Group, Inc		246
	7,122	*,e	Key Energy Services, Inc		29
	1,262,845		Kinder Morgan, Inc		25,270
	11,654	*	KLX Energy Services Holdings, Inc		293
	139,280		Kosmos Energy Ltd		868
	117,588	*	Laredo Petroleum Holdings, Inc		363
	9,873	e	Liberty Oilfield Services, Inc		152
	29,366	*	Lilis Energy, Inc		34
	5,616	e	Mammoth Energy Services, Inc		94
	550,921		Marathon Oil Corp		9,206
	440,663		Marathon Petroleum Corp		26,374
	64,577	*	Matador Resources Co		1,248
	19,934	*	Matrix Service Co		390
	126,473	*	McDermott International, Inc		941
	7,181	*	Midstates Petroleum Co, Inc		70
	4,077	*,e	Montage Resources Corp		61
	114,242	e	Murphy Oil Corp		3,347
	203,104		Nabors Industries Ltd		699
	256,371		National Oilwell Varco, Inc		6,830
	9,713	*	Natural Gas Services Group, Inc		168
	7,613	*,e	NCS Multistage Holdings, Inc		39
	63,344	*	Newpark Resources, Inc		580
	5,415	*	Nine Energy Service, Inc		123
	165,932	*	Noble Corp plc		476
	330,855		Noble Energy, Inc		8,182
	68,002		Nordic American Tanker Shipping		137
	73,198	*	Northern Oil And Gas, Inc		201
	170,623	*	Oasis Petroleum, Inc		1,031
	494,020		Occidental Petroleum Corp		32,704
	71,446	*	Oceaneering International, Inc		1,127
	38,178	*	Oil States International, Inc		647
	270,781		ONEOK, Inc		18,911
	26,237	*	Overseas Shipholding Group, Inc		60
	10,734		Panhandle Oil and Gas, Inc (Class A)		169
	23,180	*	Par Pacific Holdings, Inc		413
	167,421	*	Parsley Energy, Inc		3,231
	150,779		Patterson-UTI Energy, Inc		2,114
	78,916		PBF Energy, Inc		2,457
	47,717	*	PDC Energy, Inc		1,941
	54,624		Peabody Energy Corp		1,547
	10,090	*	Penn Virginia Corp		445
	270,765		Phillips 66		25,769
	42,944	*	Pioneer Energy Services Corp		76
	111,856		Pioneer Natural Resources Co		17,033
	48,018	*	ProPetro Holding Corp		1,082
	173,948	*	Questar Market Resources, Inc		1,355
	139,657	e	Range Resources Corp		1,570

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	27,182	*,e	Renewable Energy Group, Inc	$	597
	4,186	*	Rex American Resources Corp		337
	9,601	*	RigNet, Inc		94
	32,471	*	Ring Energy, Inc		191
	83,867	*	Rowan Cos plc		905
	42,512	e	RPC, Inc		485
	24,071	*	SandRidge Energy, Inc		193
	928,324		Schlumberger Ltd		40,447
	12,175		Scorpio Tankers, Inc		242
	11,768	*	SEACOR Holdings, Inc		498
	11,831	*	SEACOR Marine Holdings, Inc		157
	6,869	*	Select Energy Services, Inc		83
	48,551		SemGroup Corp		716
	45,041	e	Ship Finance International Ltd		556
	4,694	*	SilverBow Resources, Inc		108
	80,594		SM Energy Co		1,410
	12,316	*,e	Smart Sand, Inc		55
	6,855	e	Solaris Oilfield Infrastructure, Inc		113
	398,926	*	Southwestern Energy Co		1,871
	143,792	*	SRC Energy, Inc		736
	111,107	*	Superior Energy Services		519
	13,911	*	Talos Energy, Inc		369
	141,390		Targa Resources Investments, Inc		5,875
	36,192	e	Teekay Corp		142
	85,424		Teekay Tankers Ltd (Class A)		83
	39,279	*,e	Tellurian, Inc		440
	32,701	*	Tetra Technologies, Inc		77
	16,234	*	Tidewater, Inc		376
	343,005	*	Transocean Ltd (NYSE)		2,988
	36,980	*	Unit Corp		527
	95,169	*,e	Uranium Energy Corp		133
	58,687	e	US Silica Holdings Inc		1,019
	281,735		Valero Energy Corp		23,900
	14,396	*	W&T Offshore, Inc		99
	65,205	*	Whiting Petroleum Corp		1,704
	800,353		Williams Cos, Inc		22,986
	49,281		World Fuel Services Corp		1,424
	284,313	*	WPX Energy, Inc		3,727
			TOTAL ENERGY		950,459
FOOD & STAPLES RETAILING - 1.3%
	19,849		Andersons, Inc		640
	22,168		Casey’s General Stores, Inc		2,855
	14,374	*	Chefs’ Warehouse Holdings, Inc		446
	290,924		Costco Wholesale Corp		70,444
	10,217		Ingles Markets, Inc (Class A)		282
	533,947		Kroger Co		13,135
	6,410	*	Natural Grocers by Vitamin C		77
	70,016	*	Performance Food Group Co		2,776
	14,866		Pricesmart, Inc		875
	763,555	*,e	Rite Aid Corp		485
	17,661	*	Smart & Final Stores, Inc		87
	27,344		Spartan Stores, Inc		434
	72,919	*	Sprouts Farmers Market, Inc		1,571

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	311,057		Sysco Corp	$	20,766
	36,929	*	United Natural Foods, Inc		488
	144,258	*	US Foods Holding Corp		5,036
	4,843		Village Super Market (Class A)		132
	531,115		Walgreens Boots Alliance, Inc		33,604
	929,312		Walmart, Inc		90,636
	4,684		Weis Markets, Inc		191
			TOTAL FOOD & STAPLES RETAILING		244,960
FOOD, BEVERAGE & TOBACCO - 3.6%
	78,794	*,e	22nd Century Group, Inc		135
	2,296		Alico, Inc		63
	1,251,349		Altria Group, Inc		71,865
	356,749		Archer Daniels Midland Co		15,387
	48,393	e	B&G Foods, Inc (Class A)		1,182
	5,887	*	Boston Beer Co, Inc (Class A)		1,735
	38,532		Brown-Forman Corp (Class A)		1,972
	181,046		Brown-Forman Corp (Class B)		9,556
	92,994		Bunge Ltd		4,935
	11,455	e	Calavo Growers, Inc		961
	22,629		Cal-Maine Foods, Inc		1,010
	113,057		Campbell Soup Co		4,311
	61,868	*,e	Castle Brands, Inc		43
	3,092		Coca-Cola Bottling Co Consolidated		890
	2,525,191		Coca-Cola Co		118,330
	310,765		ConAgra Brands, Inc		8,621
	101,370		Constellation Brands, Inc (Class A)		17,773
	7,653	*	Craft Brewers Alliance, Inc		107
	118,243	*	Darling International, Inc		2,560
	65,223	e	Dean Foods Co		198
	5,320	*	Farmer Bros Co		106
	92,845		Flowers Foods, Inc		1,980
	20,613		Fresh Del Monte Produce, Inc		557
	15,781	*	Freshpet, Inc		667
	394,045		General Mills, Inc		20,392
	73,323	*	Hain Celestial Group, Inc		1,695
	89,522		Hershey Co		10,280
	177,534	e	Hormel Foods Corp		7,946
	57,996	*	Hostess Brands, Inc		725
	46,997		Ingredion, Inc		4,450
	10,369		J&J Snack Foods Corp		1,647
	72,873		J.M. Smucker Co		8,490
	5,780		John B. Sanfilippo & Son, Inc		415
	160,382		Kellogg Co		9,203
	119,054		Keurig Dr Pepper, Inc		3,330
	402,921		Kraft Heinz Co		13,155
	92,646		Lamb Weston Holdings, Inc		6,943
	13,060		Lancaster Colony Corp		2,046
	19,323	*	Landec Corp		237
	8,386		Limoneira Co		197
	81,380		McCormick & Co, Inc		12,258
	9,193	e	MGP Ingredients, Inc		709
	109,880		Molson Coors Brewing Co (Class B)		6,554

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	943,012		Mondelez International, Inc	$	47,075
	257,472	*	Monster Beverage Corp		14,053
	8,574	e	National Beverage Corp		495
	936,008		PepsiCo, Inc		114,708
	1,025,544		Philip Morris International, Inc		90,648
	9,633	*	Pilgrim’s Pride Corp		215
	40,868	*	Post Holdings, Inc		4,471
	18,742	*	Primo Water Corp		290
	14,731		Sanderson Farms, Inc		1,942
	192		Seaboard Corp		823
	5,451	*	Seneca Foods Corp		134
	40,880	*	Simply Good Foods Co		842
	11,309	e	Tootsie Roll Industries, Inc		421
	40,066	*	TreeHouse Foods, Inc		2,586
	4,760		Turning Point Brands, Inc		219
	189,676		Tyson Foods, Inc (Class A)		13,169
	17,023		Universal Corp		981
	50,602		Vector Group Ltd		546
			TOTAL FOOD, BEVERAGE & TOBACCO		669,234
HEALTH CARE EQUIPMENT & SERVICES - 6.1%
	1,136,754		Abbott Laboratories		90,872
	28,689	*	Abiomed, Inc		8,193
	56,824	*,e	Acadia Healthcare Co, Inc		1,665
	58,290	*	Accuray, Inc		278
	5,501	*	Addus HomeCare Corp		350
	52,525	*	Align Technology, Inc		14,934
	133,589	*	Allscripts Healthcare Solutions, Inc		1,274
	20,714	*	Amedisys, Inc		2,553
	6,596	*	American Renal Associates Holdings, Inc		40
	101,878		AmerisourceBergen Corp		8,101
	31,962	*	AMN Healthcare Services, Inc		1,505
	26,107	*	Angiodynamics, Inc		597
	104,354	*,e	Antares Pharma, Inc		316
	171,264		Anthem, Inc		49,149
	16,786	*,e	Apollo Medical Holdings, Inc		308
	22,609	*	AtriCure, Inc		606
	1,019		Atrion Corp		895
	33,829	*	Avanos Medical, Inc		1,444
	18,090	*	AxoGen, Inc		381
	330,118		Baxter International, Inc		26,842
	173,439		Becton Dickinson & Co		43,313
	86,257	*	BioScrip, Inc		172
	19,708	*	BioTelemetry, Inc		1,234
	919,588	*	Boston Scientific Corp		35,294
	135,933	*	Brookdale Senior Living, Inc		894
	25,974		Cantel Medical Corp		1,737
	19,478	*	Capital Senior Living Corp		78
	198,011		Cardinal Health, Inc		9,534
	23,626	*	Cardiovascular Systems, Inc		913
	45,319	*	Castlight Health, Inc		170
	268,250	*	Centene Corp		14,244
	206,553	*	Cerner Corp		11,817
	71,510	*	Cerus Corp		445

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,898		Chemed Corp	$	3,488
	243,896		Cigna Corp		39,223
	8,700		Computer Programs & Systems, Inc		258
	19,875		Conmed Corp		1,653
	32,161		Cooper Cos, Inc		9,525
	7,512	*	Corvel Corp		490
	39,829	*	Covetrus, Inc		1,269
	25,224	*	Cross Country Healthcare, Inc		177
	23,064	*	CryoLife, Inc		673
	16,944	*,e	CryoPort, Inc		219
	10,004	*	Cutera, Inc		177
	847,774		CVS Health Corp		45,720
	19,235	*,e	CytoSorbents Corp		146
	415,511		Danaher Corp		54,856
	84,282	*	DaVita, Inc		4,576
	149,427		Dentsply Sirona, Inc		7,410
	60,646	*	DexCom, Inc		7,223
	34,269	*	Diplomat Pharmacy, Inc		199
	138,363	*	Edwards Lifesciences Corp		26,473
	62,923		Encompass Health Corp		3,675
	35,447		Ensign Group, Inc		1,815
	45,708	*	Evolent Health, Inc		575
	4,418	*	FONAR Corp		90
	28,070	*	Genesis Health Care, Inc		40
	30,765	*	GenMark Diagnostics, Inc		218
	20,642	*	Glaukos Corp		1,618
	48,523	*	Globus Medical, Inc		2,398
	9,581	*	Guardant Health, Inc		735
	36,085	*	Haemonetics Corp		3,157
	180,563		HCA Holdings, Inc		23,542
	35,870	*	HealthEquity, Inc		2,654
	18,780		HealthStream, Inc		527
	100,313	*	Henry Schein, Inc		6,030
	4,605	*	Heska Corp		392
	42,299		Hill-Rom Holdings, Inc		4,478
	60,877	*	HMS Holdings Corp		1,803
	184,551	*	Hologic, Inc		8,932
	91,469		Humana, Inc		24,331
	10,885	*	ICU Medical, Inc		2,605
	57,119	*	IDEXX Laboratories, Inc		12,772
	12,244	*	Inogen Inc		1,168
	43,464	*,e	Inovalon Holdings, Inc		540
	5,311	*	Inspire Medical Systems, Inc		302
	41,898	*,e	Insulet Corp		3,984
	22,691	*	Integer Holding Corp		1,711
	44,740	*	Integra LifeSciences Holdings Corp		2,493
	4,136	*	IntriCon Corp		104
	75,275	*	Intuitive Surgical, Inc		42,950
	23,110		Invacare Corp		193
	16,105	*	iRhythm Technologies, Inc		1,207
	66,643	*	Laboratory Corp of America Holdings		10,195
	18,233	*	Lantheus Holdings, Inc		446
	9,523		LeMaitre Vascular, Inc		295

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	19,826	*	LHC Group, Inc	$	2,198
	33,006	*	LivaNova plc		3,210
	16,931	*	Magellan Health Services, Inc		1,116
	32,408	*	Masimo Corp		4,481
	128,340		McKesson Corp		15,023
	40,701	*	Medidata Solutions, Inc		2,981
	63,033	*	MEDNAX, Inc		1,713
	893,160		Medtronic plc		81,349
	31,965		Meridian Bioscience, Inc		563
	35,220	*	Merit Medical Systems, Inc		2,178
	41,890	*	Molina Healthcare, Inc		5,947
	7,753		National Healthcare Corp		588
	5,598		National Research Corp		216
	24,197	*	Natus Medical, Inc		614
	35,733	*	Neogen Corp		2,051
	19,942	*	Nevro Corp		1,247
	37,773	*	NextGen Healthcare, Inc		636
	41,426	*	Novocure Ltd		1,995
	36,380	*	NuVasive, Inc		2,066
	9,426	*	Nuvectra Corp		104
	26,681	*	Omnicell, Inc		2,157
	40,487	*	OraSure Technologies, Inc		451
	12,159	*	Orthofix International NV		686
	5,177	*	OrthoPediatrics Corp		229
	43,714		Owens & Minor, Inc		179
	14,688	*	Oxford Immunotec Global plc		253
	57,408		Patterson Cos, Inc		1,254
	21,136	*	Penumbra, Inc		3,107
	5,304	*,e	PetIQ, Inc		167
	33,935	*	Premier, Inc		1,170
	8,662	*	Providence Service Corp		577
	6,666	*,e	Pulse Biosciences, Inc		117
	86,772		Quest Diagnostics, Inc		7,803
	20,943	*	Quidel Corp		1,371
	72,154	*	R1 RCM, Inc		698
	25,914	*	RadNet, Inc		321
	93,908		Resmed, Inc		9,764
	37,335	*,e	Rockwell Medical, Inc		212
	38,631	*	RTI Biologics, Inc		232
	77,335	*	Select Medical Holdings Corp		1,090
	45,067	*,e	Senseonics Holdings, Inc		110
	10,185	*	Sientra, Inc		87
	7,680		Simulations Plus, Inc		162
	26,141	*	Staar Surgical Co		894
	54,225		STERIS plc		6,942
	224,507		Stryker Corp		44,345
	13,353	*,e	Surgery Partners, Inc		151
	10,275	*	SurModics, Inc		447
	6,560	*	Tabula Rasa HealthCare, Inc		370
	6,719	*,e	Tactile Systems Technology, Inc		354
	30,224	*	Tandem Diabetes Care, Inc		1,919
	38,788	*,e	Teladoc, Inc		2,157
	29,977		Teleflex, Inc		9,058
	59,665	*	Tenet Healthcare Corp		1,721

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,967	*	Tivity Health, Inc	$	544
	105,717	*,e	TransEnterix, Inc		252
	18,039	*	Triple-S Management Corp (Class B)		412
	631,879		UnitedHealth Group, Inc		156,239
	53,322		Universal Health Services, Inc (Class B)		7,133
	9,158		US Physical Therapy, Inc		962
	2,349		Utah Medical Products, Inc		207
	27,229	*	Varex Imaging Corp		923
	61,190	*	Varian Medical Systems, Inc		8,672
	81,875	*	Veeva Systems, Inc		10,387
	19,827	*,e	ViewRay, Inc		147
	20,093	*	Vocera Communications, Inc		636
	31,751	*	WellCare Health Plans, Inc		8,565
	51,937		West Pharmaceutical Services, Inc		5,723
	76,096	*	Wright Medical Group NV		2,393
	131,297		Zimmer Biomet Holdings, Inc		16,767
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,152,671
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
	7,431	*	Central Garden & Pet Co		190
	24,471	*	Central Garden and Pet Co (Class A)		569
	167,255		Church & Dwight Co, Inc		11,914
	84,999		Clorox Co		13,639
	555,891		Colgate-Palmolive Co		38,101
	303,286		Coty, Inc		3,488
	41,449	*	Edgewell Personal Care Co		1,819
	15,146	*	elf Beauty, Inc		161
	44,546		Energizer Holdings, Inc		2,001
	140,700		Estee Lauder Cos (Class A)		23,293
	69,622	*	Herbalife Ltd		3,689
	12,258		Inter Parfums, Inc		930
	229,608		Kimberly-Clark Corp		28,448
	7,966		Medifast, Inc		1,016
	5,685	e	Natural Health Trends Corp		74
	5,868	*	Nature’s Sunshine Products, Inc		54
	36,417		Nu Skin Enterprises, Inc (Class A)		1,743
	3,981		Oil-Dri Corp of America		124
	1,646,697		Procter & Gamble Co		171,339
	8,319	*,e	Revlon, Inc (Class A)		161
	22,541		Spectrum Brands Holdings, Inc		1,235
	8,349	*	USANA Health Sciences, Inc		700
	9,183		WD-40 Co		1,556
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		306,244
INSURANCE - 3.9%
	495,319		Aflac, Inc		24,766
	9,183		Alleghany Corp		5,624
	219,356		Allstate Corp		20,659
	32,424	*	AMBAC Financial Group, Inc		588
	61,796		American Equity Investment Life Holding Co		1,670
	43,725		American Financial Group, Inc		4,207
	595,178		American International Group, Inc		25,628
	5,469		American National Insurance Co		661

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	13,468		Amerisafe, Inc	$	800
	156,363		Aon plc		26,691
	243,531	*	Arch Capital Group Ltd		7,871
	24,041		Argo Group International Holdings Ltd		1,699
	119,205		Arthur J. Gallagher & Co		9,310
	33,144		Assurant, Inc		3,146
	75,307		Assured Guaranty Ltd		3,346
	96,464	*	Athene Holding Ltd		3,936
	49,119		Axis Capital Holdings Ltd		2,691
	1,282,381	*	Berkshire Hathaway, Inc (Class B)		257,617
	80,775	*	Brighthouse Financial, Inc		2,931
	144,728		Brown & Brown, Inc		4,271
	302,889		Chubb Ltd		42,429
	102,852		Cincinnati Financial Corp		8,835
	32,879	*,e	Citizens, Inc (Class A)		219
	17,827		CNA Financial Corp		773
	123,157		Conseco, Inc		1,993
	11,609		Crawford & Co (Class B)		106
	7,812		Donegal Group, Inc (Class A)		105
	11,930	*	eHealth, Inc		744
	6,754		EMC Insurance Group, Inc		215
	23,170		Employers Holdings, Inc		929
	8,013	*	Enstar Group Ltd		1,394
	17,977		Erie Indemnity Co (Class A)		3,209
	26,539		Everest Re Group Ltd		5,731
	7,071		FBL Financial Group, Inc (Class A)		443
	10,321		FedNat Holding Co		166
	67,815		First American Financial Corp		3,492
	172,857		FNF Group		6,318
	339,186	*	Genworth Financial, Inc (Class A)		1,299
	6,929		Global Indemnity Ltd		210
	6,616	e	Goosehead Insurance, Inc		184
	20,683	*	Greenlight Capital Re Ltd (Class A)		225
	7,438	*	Hallmark Financial Services		77
	30,826		Hanover Insurance Group, Inc		3,519
	226,634		Hartford Financial Services Group, Inc		11,268
	5,533		HCI Group, Inc		236
	8,194	*,e	Health Insurance Innovations, Inc		220
	18,411		Heritage Insurance Holdings, Inc		269
	29,606		Horace Mann Educators Corp		1,042
	5,237		Independence Holding Co		185
	1,119		Investors Title Co		177
	12,617		James River Group Holdings Ltd		506
	38,336		Kemper Corp		2,919
	7,037		Kingstone Cos, Inc		104
	10,502		Kinsale Capital Group, Inc		720
	137,254		Lincoln National Corp		8,057
	177,981		Loews Corp		8,531
	48,335		Maiden Holdings Ltd		36
	9,220	*	Markel Corp		9,185
	330,400		Marsh & McLennan Cos, Inc		31,025
	59,989	*	MBIA, Inc		571
	20,342		Mercury General Corp		1,019
	538,702		Metlife, Inc		22,933

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	35,673		National General Holdings Corp	$	846
	1,551		National Western Life Group, Inc		407
	15,353		Navigators Group, Inc		1,073
	7,308	*	NI Holdings, Inc		117
	192,340		Old Republic International Corp		4,024
	27,126		Primerica, Inc		3,313
	192,618		Principal Financial Group		9,667
	37,307		ProAssurance Corp		1,291
	380,107		Progressive Corp		27,402
	6,904		Protective Insurance Corp		128
	268,880		Prudential Financial, Inc		24,705
	41,571		Reinsurance Group of America, Inc (Class A)		5,902
	28,612		RenaissanceRe Holdings Ltd		4,106
	27,824		RLI Corp		1,996
	11,093		Safety Insurance Group, Inc		967
	42,211		Selective Insurance Group, Inc		2,671
	11,039		State Auto Financial Corp		363
	15,315		Stewart Information Services Corp		654
	51,271	*	Third Point Reinsurance Ltd		532
	22,143		Tiptree Financial, Inc		140
	62,717		Torchmark Corp		5,140
	174,214		Travelers Cos, Inc		23,895
	15,868	*,e	Trupanion, Inc		519
	16,104		United Fire & Casualty Co		704
	12,682		United Insurance Holdings Corp		202
	22,402		Universal Insurance Holdings, Inc		694
	127,358		UnumProvident Corp		4,309
	59,812		W.R. Berkley Corp		5,067
	2,317		White Mountains Insurance Group Ltd		2,144
	82,679		Willis Towers Watson plc		14,523
			TOTAL INSURANCE		737,231
MATERIALS - 2.9%
	15,014	e	Advanced Emissions Solutions, Inc		174
	22,501	*	AdvanSix, Inc		643
	16,379	*,e	AgroFresh Solutions, Inc		55
	143,595		Air Products & Chemicals, Inc		27,421
	228,124	*,e	AK Steel Holding Corp		627
	73,578		Albemarle Corp		6,032
	122,406	*	Alcoa Corp		3,447
	78,013	*	Allegheny Technologies, Inc		1,995
	20,501		American Vanguard Corp		353
	36,989		Aptargroup, Inc		3,935
	13,288		Ardagh Group S.A.		173
	43,629		Ashland Global Holdings, Inc		3,409
	57,376		Avery Dennison Corp		6,483
	153,684	*	Axalta Coating Systems Ltd		3,874
	23,190		Balchem Corp		2,152
	221,402		Ball Corp		12,810
	53,485		Bemis Co, Inc		2,967
	79,377	*	Berry Plastics Group, Inc		4,276
	27,727		Boise Cascade Co		742

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	43,691		Cabot Corp	$	1,819
	31,590		Carpenter Technology Corp		1,448
	84,927		Celanese Corp (Series A)		8,375
	36,798	*	Century Aluminum Co		327
	154,694		CF Industries Holdings, Inc		6,324
	5,158		Chase Corp		477
	119,808		Chemours Co		4,452
	11,678	*	Clearwater Paper Corp		227
	213,712	e	Cleveland-Cliffs, Inc		2,135
	119,550	*	Coeur Mining, Inc		488
	83,562		Commercial Metals Co		1,427
	22,798		Compass Minerals International, Inc		1,240
	76,387	*	Crown Holdings, Inc		4,168
	45,300		Domtar Corp		2,249
	1,502,591		DowDuPont, Inc		80,103
	34,107		Eagle Materials, Inc		2,875
	92,042		Eastman Chemical Co		6,984
	166,406		Ecolab, Inc		29,377
	159,281	*	Element Solutions Inc		1,609
	60,041	*	Ferro Corp		1,137
	47,286	*	Ferroglobe plc		0
	40,724	*,e	Flotek Industries, Inc		132
	83,295		FMC Corp		6,399
	941,449		Freeport-McMoRan Copper & Gold, Inc (Class B)		12,135
	17,819	*	FutureFuel Corp		239
	48,995	*	GCP Applied Technologies, Inc		1,450
	39,231	*	Gold Resource Corp		154
	224,514		Graphic Packaging Holding Co		2,836
	18,292		Greif, Inc (Class A)		755
	3,993		Greif, Inc (Class B)		195
	34,325		H.B. Fuller Co		1,670
	7,923		Hawkins, Inc		292
	9,402		Haynes International, Inc		309
	335,463		Hecla Mining Co		772
	143,018		Huntsman Corp		3,216
	30,403	*	Ingevity Corp		3,211
	14,138		Innophos Holdings, Inc		426
	17,291		Innospec, Inc		1,441
	63,136		International Flavors & Fragrances, Inc		8,131
	276,554		International Paper Co		12,796
	67,354	*	Intrepid Potash, Inc		255
	12,178		Kaiser Aluminum Corp		1,275
	15,231	*	Koppers Holdings, Inc		396
	21,628	*	Kraton Polymers LLC		696
	14,288		Kronos Worldwide, Inc		200
	363,241		Linde plc		63,905
	93,236	*	Livent Corp		1,145
	104,108		Louisiana-Pacific Corp		2,538
	15,120	*	LSB Industries, Inc		94
	203,972		LyondellBasell Industries AF S.C.A		17,150
	42,490		Martin Marietta Materials, Inc		8,548
	14,781		Materion Corp		843
	23,990		Minerals Technologies, Inc		1,410
	233,459		Mosaic Co		6,376

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	18,118		Myers Industries, Inc	$	310
	10,909		Neenah Paper, Inc		702
	4,083		NewMarket Corp		1,770
	348,477		Newmont Mining Corp		12,465
	207,804		Nucor Corp		12,125
	119,149		Olin Corp		2,757
	6,559		Olympic Steel, Inc		104
	32,453	*	Omnova Solutions, Inc		228
	90,414		Owens-Illinois, Inc		1,716
	63,758		Packaging Corp of America		6,336
	32,454		PH Glatfelter Co		458
	58,890		PolyOne Corp		1,726
	159,600		PPG Industries, Inc		18,014
	20,162	*	PQ Group Holdings, Inc		306
	9,399		Quaker Chemical Corp		1,883
	31,957		Rayonier Advanced Materials, Inc		433
	43,438		Reliance Steel & Aluminum Co		3,921
	41,577		Royal Gold, Inc		3,781
	85,949		RPM International, Inc		4,988
	8,418	*	Ryerson Holding Corp		72
	19,399		Schnitzer Steel Industries, Inc (Class A)		466
	20,766		Schweitzer-Mauduit International, Inc		804
	30,897		Scotts Miracle-Gro Co (Class A)		2,428
	109,559		Sealed Air Corp		5,046
	23,291		Sensient Technologies Corp		1,579
	56,197		Sherwin-Williams Co		24,205
	52,654		Silgan Holdings, Inc		1,560
	58,033		Sonoco Products Co		3,571
	56,197		Southern Copper Corp (NY)		2,230
	140,856		Steel Dynamics, Inc		4,968
	14,267		Stepan Co		1,249
	78,354	*	Summit Materials, Inc		1,243
	48,451	*	SunCoke Energy, Inc		411
	29,755	*,e	TimkenSteel Corp		323
	15,246	*	Trecora Resources		139
	19,671		Tredegar Corp		318
	23,427		Trinseo S.A.		1,061
	47,159		Tronox Holdings plc		620
	4,630	*	UFP Technologies, Inc		173
	1,357		United States Lime & Minerals, Inc		105
	113,186		United States Steel Corp		2,206
	11,048	*,e	US Concrete, Inc		458
	16,839		Valhi, Inc		39
	120,028		Valvoline, Inc		2,228
	22,885	*	Verso Corp		490
	84,861		Vulcan Materials Co		10,048
	11,178		Warrior Met Coal, Inc		340
	24,489		Westlake Chemical Corp		1,662
	166,890		WestRock Co		6,400
	31,289	*	Worthington Industries, Inc		1,168
	41,116		WR Grace and Co		3,209
			TOTAL MATERIALS		555,041

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
MEDIA & ENTERTAINMENT - 7.2%
	501,312		Activision Blizzard, Inc	$	22,825
	197,760	*	Alphabet, Inc (Class A)		232,742
	201,563	*	Alphabet, Inc (Class C)		236,496
	39,663	e	AMC Entertainment Holdings, Inc		589
	27,567	*	AMC Networks, Inc		1,565
	2,913		Cable One, Inc		2,859
	10,137	*	Care.com, Inc		200
	33,333	*	Cargurus, Inc		1,335
	51,951	*	Cars.com, Inc		1,184
	207,768		CBS Corp (Class B)		9,875
	57,360	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		228
	112,224	*	Charter Communications, Inc		38,932
	76,895		Cinemark Holdings, Inc		3,075
	28,047	*	Clear Channel Outdoor Holdings, Inc (Class A)		150
	2,974,430		Comcast Corp (Class A)		118,918
	772	*,e	Daily Journal Corp		165
	89,117	*	Discovery, Inc (Class A)		2,408
	216,367	*	Discovery, Inc (Class C)		5,500
	140,931	*	DISH Network Corp (Class A)		4,466
	197,158	*	Electronic Arts, Inc		20,037
	11,002		Emerald Expositions Events, Inc		140
	88,350		Entercom Communications Corp (Class A)		464
	50,932		Entravision Communications Corp (Class A)		165
	20,620	*,e	Eros International plc		188
	42,935		EW Scripps Co (Class A)		902
	1,574,151	*	Facebook, Inc		262,395
	10,504	*	Fluent, Inc		59
	227,338	*	Fox Corp (Class A)		8,346
	106,773	*	Fox Corp (Class B)		3,831
	86,657		Gannett Co, Inc		913
	68,741	*	GCI Liberty, Inc		3,823
	54,344	*	Glu Mobile, Inc		594
	46,930	*	Gray Television, Inc		1,002
	11,523	*	Hemisphere Media Group, Inc		162
	49,755	*	IAC/InterActiveCorp		10,454
	42,177	*	Imax Corp		957
	256,720		Interpublic Group of Cos, Inc		5,394
	30,218		John Wiley & Sons, Inc (Class A)		1,336
	7,655	*	Liberty Braves Group (Class A)		214
	25,374	*	Liberty Braves Group (Class C)		705
	17,476	*	Liberty Broadband Corp (Class A)		1,601
	67,609	*	Liberty Broadband Corp (Class C)		6,202
	29,453	*	Liberty Latin America Ltd (Class A)		570
	77,076	*	Liberty Latin America Ltd (Class C)		1,499
	15,619	*	Liberty Media Group (Class A)		532
	123,792	*	Liberty Media Group (Class C)		4,339
	50,898	*	Liberty SiriusXM Group (Class A)		1,943
	102,962	*	Liberty SiriusXM Group (Class C)		3,937
	53,282	*	Liberty TripAdvisor Holdings, Inc		756
	37,150	e	Lions Gate Entertainment Corp (Class A)		581

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	71,817	e	Lions Gate Entertainment Corp (Class B)	$	1,084
	96,974	*	Live Nation, Inc		6,162
	9,932	*	Loral Space & Communications, Inc		358
	13,200	*	Madison Square Garden Co		3,869
	14,211		Marcus Corp		569
	35,129	e	Match Group, Inc		1,989
	37,799	*	MDC Partners, Inc		85
	46,865	*	Meet Group, Inc		236
	27,920	e	Meredith Corp		1,543
	43,336	*	MSG Networks, Inc		943
	46,358		National CineMedia, Inc		327
	275,099	*	NetFlix, Inc		98,089
	36,183		New Media Investment Group, Inc		380
	89,935	e	New York Times Co (Class A)		2,954
	268,456		News Corp (Class A)		3,340
	86,319		News Corp (Class B)		1,078
	31,898		Nexstar Broadcasting Group, Inc (Class A)		3,457
	146,186		Omnicom Group, Inc		10,670
	20,643	*	QuinStreet, Inc		276
	12,373	*	Reading International, Inc		197
	13,437	*	Rosetta Stone, Inc		294
	3,161		Saga Communications, Inc		105
	19,984		Scholastic Corp		795
	51,858		Sinclair Broadcast Group, Inc (Class A)		1,995
	1,112,572		Sirius XM Holdings, Inc		6,308
	73,771	*	Take-Two Interactive Software, Inc		6,962
	12,153	*	TechTarget, Inc		198
	156,124		TEGNA, Inc		2,201
	52,414		Tribune Co		2,418
	15,283	*	Tribune Publishing Co		180
	71,015	*	TripAdvisor, Inc		3,654
	44,667	*	TrueCar, Inc		297
	466,692	*	Twitter, Inc		15,345
	7,706		Viacom, Inc (Class A)		250
	233,649		Viacom, Inc (Class B)		6,559
	1,155,192		Walt Disney Co		128,261
	15,148	*	WideOpenWest, Inc		138
	27,047		World Wrestling Entertainment, Inc (Class A)		2,347
	56,028	*	Yelp, Inc		1,933
	38,071	*	Zillow Group, Inc (Class A)		1,302
	76,096	*,e	Zillow Group, Inc (Class C)		2,644
	549,506	*	Zynga, Inc		2,929
			TOTAL MEDIA & ENTERTAINMENT		1,352,274
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.1%
	1,000,851		AbbVie, Inc		80,658
	18,729	*,e	Abeona Therapeutics, Inc		138
	70,913	*	Acadia Pharmaceuticals, Inc		1,904
	18,841	*,e	Accelerate Diagnostics, Inc		396
	22,847	*	Acceleron Pharma, Inc		1,064
	86,253	*	Achillion Pharmaceuticals, Inc		255
	14,790	*	Aclaris Therapeutics, Inc		89
	31,389	*	Acorda Therapeutics, Inc		417
	12,735	*,e	Adamas Pharmaceuticals, Inc		91

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	26,641	*	Aduro Biotech, Inc	$	106
	36,900	*	Adverum Biotechnologies, Inc		193
	21,807	*	Aerie Pharmaceuticals, Inc		1,036
	56,789	*	Agenus, Inc		169
	214,820		Agilent Technologies, Inc		17,267
	34,493	*	Agios Pharmaceuticals, Inc		2,326
	25,712	*,e	Aimmune Therapeutics, Inc		575
	10,845	*,e	Akcea Therapeutics, Inc		307
	48,526	*	Akebia Therapeutics, Inc		397
	64,824	*	Akorn, Inc		228
	6,175	*	Albireo Pharma, Inc		199
	34,164	*	Alder Biopharmaceuticals, Inc		466
	142,239	*	Alexion Pharmaceuticals, Inc		19,228
	110,420	*	Alkermes plc		4,029
	5,532	*,e	Allakos, Inc		224
	224,397		Allergan plc		32,854
	14,115	*,e	Allogene Therapeutics, Inc		408
	60,843	*	Alnylam Pharmaceuticals, Inc		5,686
	25,493	*	AMAG Pharmaceuticals, Inc		328
	417,176		Amgen, Inc		79,255
	128,302	*,e	Amicus Therapeutics, Inc		1,745
	53,162	*	Amneal Pharmaceuticals, Inc		753
	25,774	*	Amphastar Pharmaceuticals, Inc		527
	12,566	*,e	AnaptysBio, Inc		918
	5,767	*	ANI Pharmaceuticals, Inc		407
	10,943	*	Anika Therapeutics, Inc		331
	24,477	*	Apellis Pharmaceuticals, Inc		477
	8,900	*,e	Aptinyx, Inc		36
	29,050	*	Aratana Therapeutics, Inc		105
	23,940	*	Arbutus Biopharma Corp		86
	20,717	*,e	Arcus Biosciences, Inc		259
	22,973	*	Ardelyx, Inc		64
	33,642	*	Arena Pharmaceuticals, Inc		1,508
	58,861	*	Arqule, Inc		282
	126,892	*	Array Biopharma, Inc		3,094
	58,978	*,e	Arrowhead Research Corp		1,082
	10,043	*	Assembly Biosciences, Inc		198
	44,278	*	Assertio Therapeutics, Inc		224
	27,557	*	Atara Biotherapeutics, Inc		1,095
	28,525	*,e	Athenex, Inc		349
	52,762	*,e	Athersys, Inc		79
	21,700	*	Audentes Therapeutics, Inc		847
	68,882	*,e	AVEO Pharmaceuticals, Inc		56
	33,858	*	Avid Bioservices, Inc		144
	19,950	*	Bellicum Pharmaceuticals, Inc		67
	53,741	*	BioCryst Pharmaceuticals, Inc		437
	130,041	*	Biogen Idec, Inc		30,739
	18,525	*	Biohaven Pharmaceutical Holding Co Ltd		953
	120,472	*	BioMarin Pharmaceutical, Inc		10,702
	15,362	*	Bio-Rad Laboratories, Inc (Class A)		4,696
	3,856	*	Biospecifics Technologies Corp		240
	25,935		Bio-Techne Corp		5,149
	56,186	*,e	BioTime, Inc		74

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	33,689	*,e	Bluebird Bio, Inc	$	5,300
	28,144	*	Blueprint Medicines Corp		2,253
	1,083,483		Bristol-Myers Squibb Co		51,693
	76,600		Bruker BioSciences Corp		2,945
	21,820	*	Calithera Biosciences, Inc		147
	5,849	*,e	Calyxt, Inc		103
	23,380	*	Cambrex Corp		908
	19,366	*,e	Cara Therapeutics Inc		380
	21,908	*	CareDx, Inc		691
	33,837	*,e	CASI Pharmaceuticals, Inc		97
	90,837	*	Catalent, Inc		3,687
	50,782	*,e	Catalyst Pharmaceuticals, Inc		259
	465,261	*	Celgene Corp		43,893
	34,386	*	Charles River Laboratories International, Inc		4,995
	18,304	*	ChemoCentryx, Inc		254
	30,594	*	Chimerix, Inc		64
	14,633	*,e	Clearside Biomedical, Inc		20
	28,355	*	Clovis Oncology, Inc		704
	23,538	*	Codexis, Inc		483
	15,129	*,e	Cohbar, Inc		49
	27,864	*	Coherus Biosciences, Inc		380
	16,286	*	Collegium Pharmaceutical, Inc		247
	11,239	*	Concert Pharmaceuticals Inc		136
	32,828	*,e	Corbus Pharmaceuticals Holdings, Inc		228
	65,375	*,e	Corcept Therapeutics, Inc		767
	15,295	*,e	Corium International, Inc		3
	6,717	*	Corvus Pharmaceuticals, Inc		27
	34,612	*,e	CTI BioPharma Corp		34
	11,975	*,e	Cue Biopharma, Inc		93
	39,943	*	Cymabay Therapeutics, Inc		530
	30,153	*	Cytokinetics, Inc		244
	21,311	*	CytomX Therapeutics, Inc		229
	5,156	*,e	Deciphera Pharmaceuticals, Inc		120
	11,457	*,e	Denali Therapeutics, Inc		266
	27,246	*	Dermira, Inc		369
	30,105	*	Dicerna Pharmaceuticals, Inc		441
	7,981	*,e	Dova Pharmaceuticals, Inc		71
	84,059	*	Durect Corp		53
	35,256	*,e	Dynavax Technologies Corp		258
	6,368	*	Eagle Pharmaceuticals, Inc		322
	24,325	*,e	Editas Medicine, Inc		595
	10,671	*,e	Eidos Therapeutics, Inc		250
	220,267	*	Elanco Animal Health, Inc		7,064
	584,183		Eli Lilly & Co		75,804
	14,575	*	Eloxx Pharmaceuticals, Inc		170
	24,015	*	Emergent Biosolutions, Inc		1,213
	11,786	*	Enanta Pharmaceuticals, Inc		1,126
	161,263	*	Endo International plc		1,295
	27,058	*	Enzo Biochem, Inc		74
	29,818	*	Epizyme, Inc		369
	9,694	*,e	Esperion Thereapeutics, Inc		389
	79,297	*	Exact Sciences Corp		6,869
	189,826	*	Exelixis, Inc		4,518
	24,636	*	Fate Therapeutics, Inc		433

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	50,667	*	FibroGen, Inc	$	2,754
	19,800	*	Five Prime Therapeutics, Inc		265
	19,463	*,e	Flexion Therapeutics, Inc		243
	20,851	*	Fluidigm Corp		277
	5,695	*	G1 Therapeutics, Inc		95
	14,071	*	Genomic Health, Inc		986
	114,325	*,e	Geron Corp		190
	844,703		Gilead Sciences, Inc		54,914
	26,450	*	Global Blood Therapeutics, Inc		1,400
	22,784	*	GlycoMimetics Inc		284
	79,065	*	Halozyme Therapeutics, Inc		1,273
	32,353	*	Heron Therapeutics, Inc		791
	11,341	*,e	Homology Medicines, Inc		314
	118,653	*	Horizon Pharma plc		3,136
	7,873	*,e	Idera Pharmaceuticals, Inc		20
	98,364	*	Illumina, Inc		30,561
	8,484	*	Immune Design Corp		50
	65,469	*	Immunogen, Inc		177
	89,330	*,e	Immunomedics, Inc		1,716
	116,540	*	Incyte Corp		10,024
	55,553	*	Innoviva, Inc		779
	49,160	*,e	Inovio Pharmaceuticals, Inc		183
	45,452	*	Insmed, Inc		1,321
	17,481	*,e	Insys Therapeutics, Inc		81
	10,757	*,e	Intellia Therapeutics, Inc		184
	12,921	*	Intercept Pharmaceuticals, Inc		1,445
	18,642	*	Intersect ENT, Inc		599
	25,348	*	Intra-Cellular Therapies, Inc		309
	39,434	*,e	Intrexon Corp		207
	27,249	*	Invitae Corp		638
	89,084	*	Ionis Pharmaceuticals, Inc		7,231
	34,093	*	Iovance Biotherapeutics, Inc		324
	114,676	*	IQVIA Holdings, Inc		16,496
	95,014	*	Ironwood Pharmaceuticals, Inc		1,286
	40,066	*	Jazz Pharmaceuticals plc		5,727
	1,775,996		Johnson & Johnson		248,266
	4,482	*	Jounce Therapeutics, Inc		28
	47,099	*,e	Kadmon Holdings, Inc		124
	5,857	*	Kala Pharmaceuticals, Inc		48
	23,632	*	Karyopharm Therapeutics, Inc		138
	15,620	*	Kindred Biosciences Inc		143
	10,057	*	Kura Oncology, Inc		167
	12,410	*,e	La Jolla Pharmaceutical Co		80
	19,506	*,e	Lannett Co, Inc		154
	30,110	*,e	Lexicon Pharmaceuticals, Inc		167
	14,752	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,854
	31,134		Luminex Corp		716
	23,459	*	MacroGenics, Inc		422
	3,934	*,e	Madrigal Pharmaceuticals, Inc		493
	47,591	*	Mallinckrodt plc		1,035
	94,899	*,e	MannKind Corp		187
	24,678	*,e	Marinus Pharmaceuticals, Inc		103
	49,764	*,e	Medicines Co		1,391

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	22,034	*,e	MediciNova, Inc	$	182
	5,025	*	Medpace Holdings, Inc		296
	1,230	*,e	Melinta Therapeutics, Inc		4
	1,721,193		Merck & Co, Inc		143,152
	8,441	*	Mersana Therapeutics, Inc		44
	16,303	*	Mettler-Toledo International, Inc		11,787
	18,922	*	Minerva Neurosciences, Inc		149
	10,019	*,e	Miragen Therapeutics, Inc		28
	12,275	*	Mirati Therapeutics, Inc		900
	17,422	*,e	Moderna, Inc		355
	53,355	*	Momenta Pharmaceuticals, Inc		775
	350,312	*	Mylan NV		9,928
	20,674	*	MyoKardia, Inc		1,075
	46,607	*	Myriad Genetics, Inc		1,547
	10,862	*	NanoString Technologies, Inc		260
	22,232	*,e	NantKwest, Inc		35
	19,889	*	Natera, Inc		410
	106,507	*	Nektar Therapeutics		3,579
	38,546	*	NeoGenomics, Inc		789
	10,102	*,e	Neos Therapeutics, Inc		26
	63,342	*	Neurocrine Biosciences, Inc		5,580
	14,869	*,e	NewLink Genetics Corp		29
	197,987	*,e	Novavax, Inc		109
	19,320	*,e	Nymox Pharmaceutical Corp		38
	13,115	*,e	Ocular Therapeutix, Inc		52
	29,642	*,e	Omeros Corp		515
	238,337	*,e	Opko Health, Inc		622
	10,903	*,e	Optinose, Inc		112
	60,008	*,e	Organovo Holdings, Inc		60
	4,292	*	Ovid therapeutics, Inc		8
	55,440	*	Pacific Biosciences of California, Inc		401
	28,237	*	Pacira Pharmaceuticals, Inc		1,075
	17,330	*,e	Paratek Pharmaceuticals, Inc		93
	120,653	*	PDL BioPharma, Inc		449
	73,051	*	PerkinElmer, Inc		7,039
	92,108		Perrigo Co plc		4,436
	3,795,361		Pfizer, Inc		161,189
	12,927		Phibro Animal Health Corp		427
	24,527	*	Pieris Pharmaceuticals, Inc		82
	5,876	*,e	PolarityTE, Inc		63
	36,240	*,e	Portola Pharmaceuticals, Inc		1,258
	34,913	*	PRA Health Sciences, Inc		3,851
	38,233	*	Prestige Brands Holdings, Inc		1,144
	51,583	*	Progenics Pharmaceuticals, Inc		239
	27,579	*	Prothena Corp plc		335
	25,096	*	PTC Therapeutics, Inc		945
	20,506	*	Puma Biotechnology, Inc		795
	149,997	*	QIAGEN NV		6,102
	8,205	*	Ra Pharmaceuticals, Inc		184
	27,010	*	Radius Health, Inc		539
	12,412	*	Reata Pharmaceuticals, Inc		1,061
	8,471	*	Recro Pharma, Inc		50
	53,535	*	Regeneron Pharmaceuticals, Inc		21,983
	19,715	*	REGENXBIO, Inc		1,130

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,847	*	Repligen Corp	$	1,468
	25,726	*	Retrophin, Inc		582
	15,494	*	Revance Therapeutics, Inc		244
	6,147	*	Rhythm Pharmaceuticals, Inc		168
	86,450	*	Rigel Pharmaceuticals, Inc		222
	14,146	*,e	Rocket Pharmaceuticals, Inc		248
	22,395	*,e	Rubius Therapeutics, Inc		405
	28,996	*	Sage Therapeutics, Inc		4,612
	52,234	*	Sangamo Biosciences, Inc		498
	42,194	*	Sarepta Therapeutics, Inc		5,029
	16,939	*,e	Savara, Inc		125
	70,004	*	Seattle Genetics, Inc		5,127
	8,829	*,e	Selecta Biosciences, Inc		21
	13,345	*,e	Seres Therapeutics, Inc		92
	10,453	*,e	Sienna Biopharmaceuticals, Inc		24
	35,191	*	SIGA Technologies, Inc		211
	6,168	*,e	Solid Biosciences, Inc		57
	58,895	*,e	Sorrento Therapeutics, Inc		280
	16,648	*	Spark Therapeutics, Inc		1,896
	56,104	*	Spectrum Pharmaceuticals, Inc		600
	12,168	*	Stemline Therapeutics, Inc		156
	34,621	*	Supernus Pharmaceuticals, Inc		1,213
	6,983	*	Syndax Pharmaceuticals, Inc		37
	39,474	*	Syneos Health, Inc		2,043
	9,466	*	Syros Pharmaceuticals, Inc		87
	17,332	*,e	T2 Biosystems, Inc		46
	29,885	*,e	Teligent, Inc		35
	26,726	*	Tetraphase Pharmaceuticals, Inc		36
	34,724	*,e	TG Therapeutics, Inc		279
	114,084	*,e	TherapeuticsMD, Inc		556
	29,259	*	Theravance Biopharma, Inc		663
	266,612		Thermo Fisher Scientific, Inc		72,977
	6,159	*	Tocagen, Inc		67
	7,799	*	Tricida, Inc		301
	68,656	*,e	Tyme Technologies, Inc		121
	28,669	*	Ultragenyx Pharmaceutical, Inc		1,988
	28,234	*	United Therapeutics Corp		3,314
	16,428	*	UNITY Biotechnology, Inc		133
	31,395	*	Vanda Pharmaceuticals, Inc		578
	16,367	*	Veracyte, Inc		409
	35,826	*,e	Verastem, Inc		106
	24,994	*	Vericel Corp		438
	168,688	*	Vertex Pharmaceuticals, Inc		31,030
	29,514	*,e	Viking Therapeutics, Inc		293
	8,673	*	Voyager Therapeutics, Inc		166
	49,721	*	Waters Corp		12,515
	8,910	*,e	WaVe Life Sciences Pte Ltd		346
	27,098	*	Xencor Inc		842
	20,380	*	Zafgen, Inc		56
	90,754	*,e	ZIOPHARM Oncology, Inc		349
	322,732		Zoetis, Inc		32,489
	17,421	*	Zogenix, Inc		958
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,527,576

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
REAL ESTATE - 4.0%
	60,331		Acadia Realty Trust	$	1,645
	18,415		Agree Realty Corp		1,277
	47,563		Alexander & Baldwin, Inc		1,210
	1,329		Alexander’s, Inc		500
	73,674		Alexandria Real Estate Equities, Inc		10,503
	8,343	*,e	Altisource Portfolio Solutions S.A.		198
	28,646		American Assets Trust, Inc		1,314
	96,842		American Campus Communities, Inc		4,608
	164,177		American Homes 4 Rent		3,730
	288,611		American Tower Corp		56,874
	83,486		Americold Realty Trust		2,547
	102,599		Apartment Investment & Management Co		5,160
	113,878		Apple Hospitality REIT, Inc		1,856
	31,681		Armada Hoffler Properties, Inc		494
	56,474		Ashford Hospitality Trust, Inc		268
	90,146		AvalonBay Communities, Inc		18,095
	16,903		Bluerock Residential Growth REIT, Inc		182
	102,627		Boston Properties, Inc		13,740
	20,771		BraeMar Hotels & Resorts, Inc		254
	121,360		Brandywine Realty Trust		1,925
	218,369		Brixmor Property Group, Inc		4,011
	71,996		Brookfield Property REIT, Inc		1,475
	61,667		Camden Property Trust		6,259
	50,740		CareTrust REIT, Inc		1,190
	29,192		CatchMark Timber Trust, Inc		287
	124,137	e	CBL & Associates Properties, Inc		192
	204,711	*	CBRE Group, Inc		10,123
	62,949		Cedar Realty Trust, Inc		214
	28,285		Chatham Lodging Trust		544
	40,024		Chesapeake Lodging Trust		1,113
	21,833		City Office REIT, Inc		247
	10,462		Clipper Realty, Inc		140
	350,580		Colony Capital, Inc		1,865
	83,894		Columbia Property Trust, Inc		1,888
	9,586		Community Healthcare Trust, Inc		344
	3,235		Consolidated-Tomoka Land Co		191
	86,682		CoreCivic, Inc		1,686
	9,299	e	CorEnergy Infrastructure Trust, Inc		342
	7,951		CorePoint Lodging, Inc		89
	24,799		Coresite Realty		2,654
	72,219		Corporate Office Properties Trust		1,972
	301,076		Cousins Properties, Inc		2,908
	274,691		Crown Castle International Corp		35,160
	131,589		CubeSmart		4,216
	30,361	*	Cushman & Wakefield plc		540
	62,800		CyrusOne, Inc		3,293
	144,818		DiamondRock Hospitality Co		1,568
	140,314		Digital Realty Trust, Inc		16,697
	102,445		Douglas Emmett, Inc		4,141
	236,841		Duke Realty Corp		7,243
	26,096		Easterly Government Properties, Inc		470

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,492		EastGroup Properties, Inc	$	2,623
	87,790		Empire State Realty Trust, Inc		1,387
	45,571		Entertainment Properties Trust		3,504
	54,741		Equinix, Inc		24,806
	62,602		Equity Commonwealth		2,047
	56,851		Equity Lifestyle Properties, Inc		6,498
	240,533		Equity Residential		18,117
	23,787		Essential Properties Realty Trust, Inc		464
	44,504		Essex Property Trust, Inc		12,872
	77,495		Extra Space Storage, Inc		7,898
	19,962	e	Farmland Partners, Inc		128
	48,378		Federal Realty Investment Trust		6,669
	80,676		First Industrial Realty Trust, Inc		2,853
	425	*	Forestar Group, Inc		7
	44,705		Four Corners Property Trust, Inc		1,323
	72,511		Franklin Street Properties Corp		521
	37,147		Front Yard Residential Corp		344
	4,942	*	FRP Holdings, Inc		235
	124,798		Gaming and Leisure Properties, Inc		4,814
	87,896		Geo Group, Inc		1,688
	18,198		Getty Realty Corp		583
	17,811		Gladstone Commercial Corp		370
	10,990		Global Medical REIT, Inc		108
	44,961		Global Net Lease, Inc		850
	35,286		Hannon Armstrong Sustainable Infrastructure Capital, Inc		905
	322,762		HCP, Inc		10,102
	82,789		Healthcare Realty Trust, Inc		2,658
	142,087		Healthcare Trust of America, Inc		4,062
	27,708		Hersha Hospitality Trust		475
	14,600		HFF, Inc (Class A)		697
	71,000		Highwoods Properties, Inc		3,321
	94,726		Hospitality Properties Trust		2,492
	476,733		Host Marriott Corp		9,010
	24,727	*	Howard Hughes Corp		2,720
	113,109		Hudson Pacific Properties		3,893
	48,914		Independence Realty Trust, Inc		528
	34,891		Industrial Logistics Properties Trust		704
	4,353	e	Innovative Industrial Properties, Inc		356
	9,060		Investors Real Estate Trust		543
	207,077		Invitation Homes, Inc		5,038
	190,342		Iron Mountain, Inc		6,750
	49,646	e	iStar Financial, Inc		418
	62,519		JBG SMITH Properties		2,585
	6,203		Jernigan Capital, Inc		131
	28,591		Jones Lang LaSalle, Inc		4,408
	84,885		Kennedy-Wilson Holdings, Inc		1,816
	61,892		Kilroy Realty Corp		4,701
	269,965		Kimco Realty Corp		4,994
	55,102		Kite Realty Group Trust		881
	51,720		Lamar Advertising Co		4,099
	144,484		Lexington Realty Trust		1,309
	90,704		Liberty Property Trust		4,392
	31,791		Life Storage, Inc		3,092
	26,668		LTC Properties, Inc		1,221

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	92,755		Macerich Co	$	4,021
	65,387		Mack-Cali Realty Corp		1,452
	11,498	*	Marcus & Millichap, Inc		468
	4,532	*	Maui Land & Pineapple Co, Inc		52
	20,532		MedEquities Realty Trust, Inc		229
	217,243		Medical Properties Trust, Inc		4,021
	77,362		Mid-America Apartment Communities, Inc		8,458
	50,307		Monmouth Real Estate Investment Corp (Class A)		663
	26,990		National Health Investors, Inc		2,120
	97,884		National Retail Properties, Inc		5,422
	31,451		National Storage Affiliates Trust		897
	55,714		New Senior Investment Group, Inc		304
	93,396		Newmark Group, Inc		779
	12,730		NexPoint Residential Trust, Inc		488
	42,262		NorthStar Realty Europe Corp		734
	23,677		Office Properties Income Trust		654
	139,485		Omega Healthcare Investors, Inc		5,321
	9,027		One Liberty Properties, Inc		262
	97,077		Outfront Media, Inc		2,272
	141,733		Paramount Group, Inc		2,011
	136,729		Park Hotels & Resorts, Inc		4,250
	85,851		Pebblebrook Hotel Trust		2,667
	52,388	e	Pennsylvania REIT		330
	107,460		Physicians Realty Trust		2,021
	100,383		Piedmont Office Realty Trust, Inc		2,093
	47,001		Potlatch Corp		1,776
	21,687		Preferred Apartment Communities, Inc		321
	413,024		Prologis, Inc		29,717
	13,748		PS Business Parks, Inc		2,156
	95,840		Public Storage, Inc		20,872
	34,553		QTS Realty Trust, Inc		1,555
	89,792		Rayonier, Inc		2,830
	13,117		Re/Max Holdings, Inc		506
	75,694	e	Realogy Holdings Corp		863
	196,087		Realty Income Corp		14,424
	40,113	*,e	Redfin Corp		813
	100,880		Regency Centers Corp		6,808
	78,162		Retail Opportunities Investment Corp		1,355
	173,060		Retail Properties of America, Inc		2,110
	10,654		Retail Value, Inc		332
	48,113		Rexford Industrial Realty, Inc		1,723
	124,274		RLJ Lodging Trust		2,184
	5,123		RMR Group, Inc		312
	57,913		RPT Realty		696
	31,992		Ryman Hospitality Properties		2,631
	116,469		Sabra Healthcare REIT, Inc		2,268
	7,521		Safehold, Inc		164
	6,451		Saul Centers, Inc		331
	72,235	*	SBA Communications Corp		14,422
	136,618		Senior Housing Properties Trust		1,609
	18,501	e	Seritage Growth Properties		822
	203,960		Simon Property Group, Inc		37,164
	103,764		SITE Centers Corp		1,413

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	58,281		SL Green Realty Corp	$	5,241
	28,096		Spirit MTA REIT		182
	56,193		Spirit Realty Capital, Inc		2,233
	33,773	*	St. Joe Co		557
	64,412		STAG Industrial, Inc		1,910
	121,165		STORE Capital Corp		4,059
	4,495	*	Stratus Properties, Inc		119
	73,018		Summit Hotel Properties, Inc		833
	52,001		Sun Communities, Inc		6,163
	159,024		Sunstone Hotel Investors, Inc		2,290
	67,688	e	Tanger Factory Outlet Centers, Inc		1,420
	41,435		Taubman Centers, Inc		2,191
	12,164	*	Tejon Ranch Co		214
	35,329		Terreno Realty Corp		1,485
	34,663		Tier REIT, Inc		993
	13,643	*	Trinity Place Holdings, Inc		55
	175,727		UDR, Inc		7,989
	20,169		UMH Properties, Inc		284
	119,952	e	Uniti Group, Inc		1,342
	9,264		Universal Health Realty Income Trust		701
	70,770		Urban Edge Properties		1,345
	20,808		Urstadt Biddle Properties, Inc (Class A)		430
	236,538		Ventas, Inc		15,094
	661,427		VEREIT, Inc		5,536
	267,934		VICI Properties, Inc		5,862
	117,610		Vornado Realty Trust		7,932
	134,922	e	Washington Prime Group, Inc		762
	53,425		Washington REIT		1,516
	67,227		Weingarten Realty Investors		1,975
	247,346		Welltower, Inc		19,194
	508,966		Weyerhaeuser Co		13,406
	25,132	*	Whitestone REIT		302
	105,594		WP Carey, Inc		8,271
	79,064		Xenia Hotels & Resorts, Inc		1,732
			TOTAL REAL ESTATE		756,236
RETAILING - 6.0%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		333
	45,849		Aaron’s, Inc		2,412
	51,631		Abercrombie & Fitch Co (Class A)		1,415
	46,868		Advance Auto Parts, Inc		7,992
	272,436	*	Amazon.com, Inc		485,140
	117,400		American Eagle Outfitters, Inc		2,603
	5,481	*	America’s Car-Mart, Inc		501
	13,496	*	Asbury Automotive Group, Inc		936
	117,039	*	Ascena Retail Group, Inc		126
	17,984	*,e	At Home Group, Inc		321
	36,032	*	Autonation, Inc		1,287
	16,925	*	AutoZone, Inc		17,333
	29,015	*	Barnes & Noble Education, Inc		122
	40,294	e	Barnes & Noble, Inc		219
	76,045	e	Bed Bath & Beyond, Inc		1,292
	156,505		Best Buy Co, Inc		11,121
	14,390	e	Big 5 Sporting Goods Corp		46

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,052		Big Lots, Inc	$	762
	86,634	*	BJ’s Wholesale Club Holdings, Inc		2,374
	30,621	*	Booking Holdings, Inc		53,431
	9,762	*	Boot Barn Holdings, Inc		287
	14,004		Buckle, Inc		262
	44,520	*	Burlington Stores, Inc		6,975
	28,267		Caleres, Inc		698
	22,123	e	Camping World Holdings, Inc		308
	121,162	*	CarMax, Inc		8,457
	21,643	*,e	Carvana Co		1,257
	12,003		Cato Corp (Class A)		180
	83,036		Chico’s FAS, Inc		355
	12,596		Children’s Place Retail Stores, Inc		1,225
	11,556		Citi Trends, Inc		223
	13,169	*	Conn’s, Inc		301
	11,400	*	Container Store Group, Inc		100
	33,096		Core-Mark Holding Co, Inc		1,229
	49,292	*	Designer Brands Inc		1,095
	52,804		Dick’s Sporting Goods, Inc		1,944
	3,340	e	Dillard’s, Inc (Class A)		241
	176,699		Dollar General Corp		21,080
	154,566	*	Dollar Tree, Inc		16,236
	7,236	*,e	Duluth Holdings, Inc		173
	569,521		eBay, Inc		21,152
	83,578	*	Etsy, Inc		5,618
	79,113		Expedia, Inc		9,414
	55,323	*	Express Parent LLC		237
	34,498	*	Five Below, Inc		4,286
	38,520	*	Floor & Decor Holdings, Inc		1,588
	71,401		Foot Locker, Inc		4,327
	6,584	*,e	Gaia, Inc		60
	67,461	e	GameStop Corp (Class A)		685
	152,120		Gap, Inc		3,983
	13,677	*	Genesco, Inc		623
	91,234		Genuine Parts Co		10,221
	50,651	*,e	GNC Holdings, Inc		138
	5,257		Group 1 Automotive, Inc		340
	244,899	*	Groupon, Inc		869
	60,011	*	GrubHub, Inc		4,169
	44,451		Guess?, Inc		871
	13,840		Haverty Furniture Cos, Inc		303
	16,994	*	Hibbett Sports, Inc		388
	747,621		Home Depot, Inc		143,461
	27,375	*	Hudson Ltd		376
	8,070		J. Jill, Inc		44
	228,517	*,e	JC Penney Co, Inc		341
	12,718	*	Kirkland’s, Inc		89
	114,318		Kohl’s Corp		7,862
	139,756		L Brands, Inc		3,854
	9,431	*,e	Lands’ End, Inc		157
	9,177	*	Leaf Group Ltd		74
	39,468	*	Liberty Expedia Holdings, Inc		1,689
	19,090	*	Liquidity Services, Inc		147

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	10,868		Lithia Motors, Inc (Class A)	$	1,008
	193,627	*	LKQ Corp		5,495
	531,649		Lowe’s Companies, Inc		58,200
	19,294	*,e	Lumber Liquidators, Inc		195
	199,770		Macy’s, Inc		4,800
	18,578	*	MarineMax, Inc		356
	61,561	*	Michaels Cos, Inc		703
	23,604		Monro Muffler, Inc		2,042
	16,896	*	Murphy USA, Inc		1,447
	32,478	*	National Vision Holdings, Inc		1,021
	84,693		Nordstrom, Inc		3,759
	375,116		Office Depot, Inc		1,362
	34,400	*	Ollie’s Bargain Outlet Holdings, Inc		2,935
	51,273	*	O’Reilly Automotive, Inc		19,909
	12,199	*,e	Overstock.com, Inc		203
	17,507	*,e	Party City Holdco, Inc		139
	12,813		Penske Auto Group, Inc		572
	14,105	e	PetMed Express, Inc		321
	24,507		Pool Corp		4,043
	53,361	*	Quotient Technology, Inc		527
	260,506	*	Qurate Retail Group, Inc QVC Group		4,163
	30,873	*	Rent-A-Center, Inc		644
	10,459	*,e	RH		1,077
	240,977		Ross Stores, Inc		22,435
	66,571	*	Sally Beauty Holdings, Inc		1,226
	2,356	e	Shoe Carnival, Inc		80
	18,402	*	Shutterfly, Inc		748
	13,499		Shutterstock, Inc		629
	38,798		Signet Jewelers Ltd		1,054
	29,918	*	Sleep Number Corp		1,406
	20,728		Sonic Automotive, Inc (Class A)		307
	19,952	*	Sportsman’s Warehouse Holdings, Inc		96
	11,437	*	Stamps.com, Inc		931
	26,598	e	Tailored Brands, Inc		209
	350,250		Target Corp		28,111
	84,372		Tiffany & Co		8,905
	24,339		Tile Shop Holdings, Inc		138
	6,790		Tilly’s, Inc		76
	812,226		TJX Companies, Inc		43,219
	81,030		Tractor Supply Co		7,922
	37,822	*	Ulta Beauty, Inc		13,190
	50,352	*	Urban Outfitters, Inc		1,492
	38,206	*,e	Wayfair, Inc		5,672
	5,214		Weyco Group, Inc		161
	56,628	e	Williams-Sonoma, Inc		3,186
	1,945		Winmark Corp		367
	11,661	*	Zumiez, Inc		290
			TOTAL RETAILING		1,136,529
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.8%
	13,345	*	Acacia Communications, Inc		765
	26,575	*	Advanced Energy Industries, Inc		1,320
	595,455	*	Advanced Micro Devices, Inc		15,196
	15,539	*	Alpha & Omega Semiconductor Ltd		179

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	23,188	*,e	Ambarella, Inc	$	1,002
	73,241	*	Amkor Technology, Inc		626
	241,286		Analog Devices, Inc		25,400
	630,811		Applied Materials, Inc		25,018
	14,361	*	Aquantia Corp		130
	20,849	*	Axcelis Technologies, Inc		420
	26,991	*	AXT, Inc		120
	268,518		Broadcom, Inc		80,746
	49,923		Brooks Automation, Inc		1,464
	18,819		Cabot Microelectronics Corp		2,107
	15,710	*	Ceva, Inc		424
	46,452	*	Cirrus Logic, Inc		1,954
	26,675		Cohu, Inc		393
	70,502	*	Cree, Inc		4,034
	236,910		Cypress Semiconductor Corp		3,535
	28,713	*	Diodes, Inc		996
	86,577		Entegris, Inc		3,090
	49,996	*	First Solar, Inc		2,642
	51,293	*	Formfactor, Inc		825
	8,421	*,e	Ichor Holdings Ltd		190
	13,074	*,e	Impinj, Inc		219
	29,376	*	Inphi Corp		1,285
	80,334	*	Integrated Device Technology, Inc		3,936
	2,980,212		Intel Corp		160,037
	107,606		Kla-Tencor Corp		12,849
	50,517	*,e	Kopin Corp		68
	103,432		Lam Research Corp		18,515
	75,431	*	Lattice Semiconductor Corp		900
	29,103	*,e	MA-COM Technology Solutions		486
	372,735		Marvell Technology Group Ltd		7,414
	183,040		Maxim Integrated Products, Inc		9,732
	43,500	*	MaxLinear, Inc		1,111
	148,473	e	Microchip Technology, Inc		12,317
	737,627	*	Micron Technology, Inc		30,486
	31,711		MKS Instruments, Inc		2,951
	28,750		Monolithic Power Systems, Inc		3,895
	18,167	*	Nanometrics, Inc		561
	21,168	*	NeoPhotonics Corp Ltd		133
	3,184		NVE Corp		312
	387,610		NVIDIA Corp		69,599
	224,271		NXP Semiconductors NV		19,823
	279,225	*	ON Semiconductor Corp		5,744
	20,605	*	PDF Solutions, Inc		254
	46,544	*	Photronics, Inc		440
	20,135		Power Integrations, Inc		1,408
	83,066	*	Qorvo, Inc		5,958
	796,486		QUALCOMM, Inc		45,424
	79,664	*	Rambus, Inc		833
	22,659	*	Rudolph Technologies, Inc		517
	47,350	*	Semtech Corp		2,411
	28,958	*	Silicon Laboratories, Inc		2,342
	116,443		Skyworks Solutions, Inc		9,604
	2,025	*	SMART Global Holdings, Inc		39

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	42,585	*,e	SunPower Corp	$	277
	114,074		Teradyne, Inc		4,545
	633,902		Texas Instruments, Inc		67,238
	23,500	*	Ultra Clean Holdings		243
	27,466	e	Universal Display Corp		4,198
	34,384	*	Veeco Instruments, Inc		373
	77,993		Versum Materials, Inc		3,924
	166,285		Xilinx, Inc		21,083
	35,485		Xperi Corp		830
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		706,890
SOFTWARE & SERVICES - 11.7%
	36,774	*	2U, Inc		2,605
	65,506	*	8x8, Inc		1,323
	32,215	*	A10 Networks, Inc		228
	423,185		Accenture plc		74,489
	86,241	*	ACI Worldwide, Inc		2,835
	324,452	*	Adobe, Inc		86,463
	102,915	*	Akamai Technologies, Inc		7,380
	14,717	*	Alarm.com Holdings, Inc		955
	32,517		Alliance Data Systems Corp		5,690
	16,908	*	Altair Engineering, Inc		622
	18,942	*,e	Alteryx, Inc		1,589
	11,882	*	Amber Road, Inc		103
	86,274		Amdocs Ltd		4,668
	15,720	*	American Software, Inc (Class A)		188
	11,882	*,e	Anaplan, Inc		468
	54,342	*	Ansys, Inc		9,929
	5,867	*	Appfolio, Inc		466
	48,798	*	Aspen Technology, Inc		5,088
	64,859	*	Atlassian Corp plc		7,289
	145,747	*	Autodesk, Inc		22,710
	288,708		Automatic Data Processing, Inc		46,118
	18,187	*	Avalara, Inc		1,015
	70,813	*	Avaya Holdings Corp		1,192
	11,374	*	Benefitfocus, Inc		563
	96,845	*	Black Knight, Inc		5,278
	34,044		Blackbaud, Inc		2,714
	21,965	*	Blackline, Inc		1,017
	96,676		Booz Allen Hamilton Holding Co		5,621
	29,562	*	Bottomline Technologies, Inc		1,481
	86,219	*	Box, Inc		1,665
	20,694	*	Brightcove, Inc		174
	77,769		Broadridge Financial Solutions, Inc		8,064
	17,838	*	CACI International, Inc (Class A)		3,247
	184,754	*	Cadence Design Systems, Inc		11,734
	5,472	*,e	Carbon Black, Inc		76
	18,030	*	Carbonite, Inc		447
	33,955	*	Cardtronics plc		1,208
	10,596		Cass Information Systems, Inc		501
	88,343		CDK Global, Inc		5,196
	16,103	*,e	Ceridian HCM Holding, Inc		826
	15,814	*	ChannelAdvisor Corp		193
	26,536	*	Cision Ltd		365

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	86,913		Citrix Systems, Inc	$	8,662
	114,390	*	Cloudera, Inc		1,251
	386,372		Cognizant Technology Solutions Corp (Class A)		27,993
	28,135	*	Commvault Systems, Inc		1,821
	137,713	*	Conduent, Inc		1,905
	37,259	*	Cornerstone OnDemand, Inc		2,041
	36,045	*	Coupa Software, Inc		3,279
	24,883		CSG Systems International, Inc		1,053
	7,264	*,e	Digimarc Corp		228
	48,819	*	DocuSign, Inc		2,531
	11,005	*,e	Domo, Inc		444
	184,894		DXC Technology Co		11,891
	17,480	e	Ebix, Inc		863
	5,367	*,e	Elastic NV		429
	24,127	*	Ellie Mae, Inc		2,381
	43,380	*	Endurance International Group Holdings, Inc		315
	30,234	*	Envestnet, Inc		1,977
	34,220	*	EPAM Systems, Inc		5,788
	30,598	*	Euronet Worldwide, Inc		4,363
	12,571	*	Everbridge, Inc		943
	45,885	*	Everi Holdings, Inc		483
	44,094		EVERTEC, Inc		1,226
	10,859	*	Evo Payments, Inc		315
	32,121	*	Exela Technologies, Inc		107
	21,916	*	ExlService Holdings, Inc		1,315
	20,028	*	Fair Isaac Corp		5,440
	215,206		Fidelity National Information Services, Inc		24,340
	127,712	*	FireEye, Inc		2,144
	48,580	*	First American Corp		1,810
	365,874	*	First Data Corp		9,612
	264,758	*	Fiserv, Inc		23,373
	37,675	*	Five9, Inc		1,990
	57,718	*	FleetCor Technologies, Inc		14,233
	19,555	*	ForeScout Technologies, Inc		820
	92,111	*	Fortinet, Inc		7,735
	58,348	*	Gartner, Inc		8,850
	97,664		Genpact Ltd		3,436
	103,518		Global Payments, Inc		14,132
	111,509	*	GoDaddy, Inc		8,384
	22,127	*,e	GTT Communications, Inc		768
	52,363	*	Guidewire Software, Inc		5,088
	17,956		Hackett Group, Inc		284
	24,272	*	HubSpot, Inc		4,034
	24,668	*	Information Services Group, Inc		92
	15,324	*	Instructure, Inc		722
	14,801	*,e	Internap Corp		73
	606,058		International Business Machines Corp		85,515
	162,573		Intuit, Inc		42,498
	33,493		j2 Global, Inc		2,900
	51,199		Jack Henry & Associates, Inc		7,103
	92,643		Leidos Holdings, Inc		5,937
	50,961	*	Limelight Networks, Inc		165
	40,701	*	Liveperson, Inc		1,181

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	44,500	*	LiveRamp Holdings, Inc	$	2,428
	36,974		LogMeIn, Inc		2,962
	48,035	*	Manhattan Associates, Inc		2,647
	18,418		Mantech International Corp (Class A)		995
	601,533		MasterCard, Inc (Class A)		141,631
	36,930		MAXIMUS, Inc		2,621
	5,017,218		Microsoft Corp		591,731
	6,844	*	MicroStrategy, Inc (Class A)		987
	22,456	*	Mitek Systems, Inc		275
	40,466	*	MobileIron, Inc		221
	14,483	*	Model N, Inc		254
	22,389	*	MoneyGram International, Inc		46
	29,292		Monotype Imaging Holdings, Inc		583
	30,028	*	New Relic, Inc		2,964
	46,584		NIC, Inc		796
	176,319	*	Nuance Communications, Inc		2,985
	92,944	*	Nutanix, Inc		3,508
	58,404	*	Okta, Inc		4,832
	21,489	*	OneSpan, Inc		413
	1,597,337		Oracle Corp		85,793
	59,973	*	Palo Alto Networks, Inc		14,566
	7,197	*	Park City Group, Inc		58
	210,767		Paychex, Inc		16,904
	31,529	*	Paycom Software, Inc		5,963
	18,614	*	Paylocity Holding Corp		1,660
	776,950	*	PayPal Holdings, Inc		80,678
	26,462		Pegasystems, Inc		1,720
	25,493	*	Perficient, Inc		698
	95,646		Perspecta, Inc		1,934
	16,056	*	Pluralsight, Inc		510
	13,412		Presidio, Inc		198
	31,483		Progress Software Corp		1,397
	34,295	*	Proofpoint, Inc		4,164
	19,034	*	PROS Holdings, Inc		804
	78,000	*	PTC, Inc		7,190
	22,395	*	Q2 Holdings, Inc		1,551
	7,729		QAD, Inc (Class A)		333
	22,512	*	Qualys, Inc		1,863
	14,504	*	Rapid7, Inc		734
	42,414	*	RealPage, Inc		2,574
	116,765	*	Red Hat, Inc		21,333
	44,988	*	RingCentral, Inc		4,850
	186,641		Sabre Corp		3,992
	35,043	*	SailPoint Technologies Holding, Inc		1,006
	478,245	*	salesforce.com, Inc		75,740
	37,230		Science Applications International Corp		2,865
	4,599	*,e	SecureWorks Corp		85
	119,493	*	ServiceNow, Inc		29,454
	46,932	*	ServiceSource International LLC		43
	4,906	*	ShotSpotter, Inc		189
	16,667	*,e	SolarWinds Corp		325
	98,246	*	Splunk, Inc		12,241
	12,246	*	SPS Commerce, Inc		1,299
	195,060	*	Square, Inc		14,614

312

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	140,643		SS&C Technologies Holdings, Inc	$	8,958
	25,754	e	Switch, Inc		266
	29,262	*	Sykes Enterprises, Inc		828
	399,967		Symantec Corp		9,195
	94,245	*	Synopsys, Inc		10,852
	43,485	*	Tableau Software, Inc		5,535
	20,400	*	TeleNav, Inc		124
	8,418	*,e	Tenable Holdings, Inc		267
	76,002	*	Teradata Corp		3,317
	85,228		TiVo Corp		794
	117,407		Total System Services, Inc		11,155
	21,360	*	Trade Desk, Inc		4,228
	88,235		Travelport Worldwide Ltd		1,388
	10,054		TTEC Holdings, Inc		364
	6,516	*	Tucows, Inc		529
	58,250	*	Twilio, Inc		7,525
	24,426	*	Tyler Technologies, Inc		4,993
	20,094	*	Ultimate Software Group, Inc		6,634
	38,674	*,e	Unisys Corp		451
	4,914	*	Upland Software, Inc		208
	18,823	*	Varonis Systems, Inc		1,122
	45,384	*	Verint Systems, Inc		2,717
	67,876	*	VeriSign, Inc		12,324
	32,131	*,e	VirnetX Holding Corp		203
	19,953	*	Virtusa Corp		1,066
	1,164,562		Visa, Inc (Class A)		181,893
	46,345		VMware, Inc (Class A)		8,366
	279,835		Western Union Co		5,169
	27,596	*	WEX, Inc		5,298
	96,003	*	Workday, Inc		18,514
	16,351	*	Workiva, Inc		829
	196,315	*	Worldpay, Inc		22,282
	55,032	*	Yext, Inc		1,203
	69,807	*	Zendesk, Inc		5,934
	42,422	*	Zix Corp		292
	40,123	*	Zscaler, Inc		2,846
			TOTAL SOFTWARE & SERVICES		2,209,922
TECHNOLOGY HARDWARE & EQUIPMENT - 5.6%
	74,639	*,e	3D Systems Corp		803
	35,649		Adtran, Inc		488
	16,323	*	Aerohive Networks, Inc		74
	11,056	*	Agilysys, Inc		234
	194,851		Amphenol Corp (Class A)		18,402
	21,094	*	Anixter International, Inc		1,184
	3,143,928		Apple, Inc		597,189
	13,189	*,e	Applied Optoelectronics, Inc		161
	36,466	*	Arista Networks, Inc		11,467
	47,303	*	Arlo Technologies, Inc		195
	95,820	*	ARRIS International plc		3,029
	55,742	*	Arrow Electronics, Inc		4,295
	24,161	*	Avid Technology, Inc		180
	63,498		Avnet, Inc		2,754

313

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,410		AVX Corp	$	597
	19,362		Badger Meter, Inc		1,077
	7,316		Bel Fuse, Inc (Class B)		185
	30,293		Belden CDT, Inc		1,627
	35,867		Benchmark Electronics, Inc		942
	26,799	*	CalAmp Corp		337
	28,887	*	Calix, Inc		222
	9,824	*	Casa Systems, Inc		82
	94,505		CDW Corp		9,107
	101,053	*	Ciena Corp		3,773
	2,997,662		Cisco Systems, Inc		161,844
	8,964	*	Clearfield, Inc		132
	110,414		Cognex Corp		5,616
	17,685	*	Coherent, Inc		2,506
	122,398	*	CommScope Holding Co, Inc		2,660
	16,237		Comtech Telecommunications Corp		377
	15,682	*	Control4 Corp		266
	522,329		Corning, Inc		17,289
	29,620	*	Cray, Inc		772
	23,637		CTS Corp		694
	27,847		Daktronics, Inc		207
	98,960	*	Dell Technologies, Inc		5,808
	53,560		Diebold, Inc		593
	18,652	*	Digi International, Inc		236
	39,659		Dolby Laboratories, Inc (Class A)		2,497
	13,533	*,e	Eastman Kodak Co		40
	33,587	*	EchoStar Corp (Class A)		1,224
	33,181	*	Electronics for Imaging, Inc		893
	9,278	*	ePlus, Inc		821
	79,396	*	Extreme Networks, Inc		595
	38,706	*	F5 Networks, Inc		6,074
	26,560	*	Fabrinet		1,391
	12,851	*	FARO Technologies, Inc		564
	80,146	*	Finisar Corp		1,857
	124,310	*,e	Fitbit, Inc		736
	84,050		Flir Systems, Inc		3,999
	58,321	*	Harmonic, Inc		316
	949,063		Hewlett Packard Enterprise Co		14,644
	1,032,212		HP, Inc		20,056
	43,712	*	II-VI, Inc		1,628
	21,661	*	Immersion Corp		183
	103,799	*	Infinera Corp		450
	25,682	*	Insight Enterprises, Inc		1,414
	25,007		InterDigital, Inc		1,650
	25,495	*	IPG Photonics Corp		3,870
	18,293	*	Iteris, Inc		76
	24,355	*	Itron, Inc		1,136
	107,922		Jabil Circuit, Inc		2,870
	223,430		Juniper Networks, Inc		5,914
	32,485		Kemet Corp		551
	121,590	*	Keysight Technologies, Inc		10,603
	21,162	*	Kimball Electronics, Inc		328
	64,648	*	Knowles Corp		1,140
	10,929	*	KVH Industries, Inc		111

314

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	17,448		Littelfuse, Inc	$	3,184
	51,429	*	Lumentum Holdings, Inc		2,908
	24,482	*,e	Maxwell Technologies, Inc		109
	2,255		Mesa Laboratories, Inc		520
	25,950		Methode Electronics, Inc		747
	107,124		Motorola, Inc		15,042
	12,096		MTS Systems Corp		659
	7,937	*	Napco Security Technologies, Inc		165
	76,957		National Instruments Corp		3,414
	87,292	*	NCR Corp		2,382
	166,870		NetApp, Inc		11,571
	23,887	*	Netgear, Inc		791
	64,175	*	Netscout Systems, Inc		1,801
	4,719	*	nLight, Inc		105
	23,522	*	Novanta, Inc		1,993
	12,827	*	OSI Systems, Inc		1,124
	7,480	*	PAR Technology Corp		183
	14,228		Park Electrochemical Corp		223
	8,216		PC Connection, Inc		301
	24,496		Plantronics, Inc		1,130
	24,305	*	Plexus Corp		1,481
	112,099	*	Pure Storage, Inc		2,443
	15,117	*	Quantenna Communications, Inc		368
	37,508	*	Ribbon Communications, Inc		193
	12,852	*	Rogers Corp		2,042
	52,368	*	Sanmina Corp		1,511
	17,777	*	Scansource, Inc		637
	37,383	*	Stratasys Ltd		890
	25,356	*	Synaptics, Inc		1,008
	29,139		SYNNEX Corp		2,780
	19,502	*	Tech Data Corp		1,997
	162,259	*	Trimble Navigation Ltd		6,555
	66,124	*	TTM Technologies, Inc		776
	9,730	e	Ubiquiti Networks, Inc		1,457
	28,420	*,e	USA Technologies, Inc		118
	38,380	*,e	Viasat, Inc		2,974
	165,919	*	Viavi Solutions, Inc		2,054
	97,366		Vishay Intertechnology, Inc		1,798
	9,508	*	Vishay Precision Group, Inc		325
	197,112		Western Digital Corp		9,473
	123,554		Xerox Corp		3,951
	33,846	*	Zebra Technologies Corp (Class A)		7,092
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,045,310
TELECOMMUNICATION SERVICES - 1.9%
	4,807,277		AT&T, Inc		150,756
	7,918		ATN International, Inc		447
	27,406	*	Boingo Wireless, Inc		638
	628,303		CenturyLink, Inc		7,533
	33,512	*	Cincinnati Bell, Inc		320
	29,776		Cogent Communications Group, Inc		1,615
	48,355	e	Consolidated Communications Holdings, Inc		528
	57,416	*,e	Frontier Communications Corp		114

315

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	42,541	*,e	Gogo, Inc	$	191
	23,607	*,e	Intelsat S.A.		370
	60,764	*	Iridium Communications, Inc		1,607
	60,198	*	NII Holdings, Inc		118
	13,047	*	Ooma, Inc		173
	44,329	*	Orbcomm, Inc		301
	7,472	*	pdvWireless, Inc		263
	33,638		Shenandoah Telecom Co		1,492
	14,641		Spok Holdings, Inc		199
	458,152	*	Sprint Corp		2,589
	70,982		Telephone & Data Systems, Inc		2,181
	199,928	*	T-Mobile US, Inc		13,815
	9,529	*	US Cellular Corp		437
	2,738,374		Verizon Communications, Inc		161,920
	143,849	*	Vonage Holdings Corp		1,444
	134,804	*	Zayo Group Holdings, Inc		3,831
			TOTAL TELECOMMUNICATION SERVICES		352,882
TRANSPORTATION - 2.0%
	37,928	*	Air Transport Services Group, Inc		874
	77,886		Alaska Air Group, Inc		4,371
	8,722		Allegiant Travel Co		1,129
	3,253		Amerco, Inc		1,208
	271,150		American Airlines Group, Inc		8,612
	19,331		Arkansas Best Corp		595
	16,948	*	Atlas Air Worldwide Holdings, Inc		857
	41,208	*	Avis Budget Group, Inc		1,436
	88,271		CH Robinson Worldwide, Inc		7,679
	21,812		Copa Holdings S.A. (Class A)		1,758
	23,634		Costamare, Inc		123
	8,672	*	Covenant Transportation Group, Inc		165
	513,513		CSX Corp		38,421
	14,173	*	Daseke, Inc		72
	419,964		Delta Air Lines, Inc		21,691
	28,818	*	Eagle Bulk Shipping, Inc		134
	21,041	*	Echo Global Logistics, Inc		521
	112,402		Expeditors International of Washington, Inc		8,531
	159,852		FedEx Corp		28,999
	20,963		Forward Air Corp		1,357
	6,118	*	Genco Shipping & Trading Ltd		46
	43,633	*	Genesee & Wyoming, Inc (Class A)		3,802
	36,387		Hawaiian Holdings, Inc		955
	33,759		Heartland Express, Inc		651
	40,162	*	Hertz Global Holdings, Inc		698
	21,791	*	Hub Group, Inc (Class A)		890
	56,707		JB Hunt Transport Services, Inc		5,744
	182,861	*	JetBlue Airways Corp		2,992
	64,963		Kansas City Southern Industries, Inc		7,534
	37,438	*	Kirby Corp		2,812
	87,818		Knight-Swift Transportation Holdings, Inc		2,870
	25,122		Landstar System, Inc		2,748
	55,800		Macquarie Infrastructure Co LLC		2,300
	23,235		Marten Transport Ltd		414
	32,238		Matson, Inc		1,163

316

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	176,857		Norfolk Southern Corp	$	33,053
	43,304		Old Dominion Freight Line		6,253
	6,136		Park-Ohio Holdings Corp		199
	29,335	*	Radiant Logistics, Inc		185
	30,762		Ryder System, Inc		1,907
	33,371	*	Safe Bulkers, Inc		49
	18,094	*	Saia, Inc		1,106
	22,723		Schneider National, Inc		478
	40,927		Scorpio Bulkers, Inc		157
	37,279		Skywest, Inc		2,024
	333,153		Southwest Airlines Co		17,294
	50,261	*	Spirit Airlines, Inc		2,657
	478,687		Union Pacific Corp		80,037
	161,656	*	United Continental Holdings, Inc		12,897
	456,420		United Parcel Service, Inc (Class B)		51,000
	6,297		Universal Truckload Services, Inc		124
	14,010	*	US Xpress Enterprises, Inc		93
	31,167		Werner Enterprises, Inc		1,064
	79,581	*,e	XPO Logistics, Inc		4,277
	23,809	*	YRC Worldwide, Inc		159
			TOTAL TRANSPORTATION		379,165
UTILITIES - 3.2%
	451,060		AES Corp		8,155
	30,256		Allete, Inc		2,488
	148,965		Alliant Energy Corp		7,021
	157,895		Ameren Corp		11,613
	328,999		American Electric Power Co, Inc		27,554
	25,230		American States Water Co		1,799
	122,513		American Water Works Co, Inc		12,773
	109,499		Aqua America, Inc		3,990
	8,231	*,e	AquaVenture Holdings Ltd		159
	4,909		Artesian Resources Corp		183
	92,825	*,e	Atlantic Power Corp		234
	75,733		Atmos Energy Corp		7,795
	39,059		Avangrid, Inc		1,967
	33,562		Avista Corp		1,363
	36,321		Black Hills Corp		2,690
	15,011	*,e	Cadiz, Inc		145
	35,650		California Water Service Group		1,935
	338,271		Centerpoint Energy, Inc		10,385
	11,318		Chesapeake Utilities Corp		1,032
	24,011		Clearway Energy, Inc (Class A)		349
	47,061		Clearway Energy, Inc (Class C)		711
	188,591		CMS Energy Corp		10,474
	8,405		Connecticut Water Service, Inc		577
	207,011		Consolidated Edison, Inc		17,557
	10,961		Consolidated Water Co, Inc		141
	500,232		Dominion Resources, Inc		38,348
	118,312		DTE Energy Co		14,758
	467,317		Duke Energy Corp		42,059
	205,070		Edison International		12,698
	27,569		El Paso Electric Co		1,622

317

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	114,842		Entergy Corp	$	10,982
	165,373		Evergy, Inc		9,600
	211,303		Eversource Energy		14,992
	629,117		Exelon Corp		31,538
	327,125		FirstEnergy Corp		13,612
	6,410		Global Water Resources, Inc		63
	71,561		Hawaiian Electric Industries, Inc		2,918
	30,421		Idacorp, Inc		3,028
	119,020		MDU Resources Group, Inc		3,074
	24,502		MGE Energy, Inc		1,665
	11,759		Middlesex Water Co		658
	44,613		National Fuel Gas Co		2,720
	62,202		New Jersey Resources Corp		3,097
	314,470		NextEra Energy, Inc		60,793
	234,601		NiSource, Inc		6,724
	14,483		Northwest Natural Holding Co		950
	35,112		NorthWestern Corp		2,472
	183,501		NRG Energy, Inc		7,795
	142,240		OGE Energy Corp		6,133
	36,272		ONE Gas, Inc		3,229
	26,977		Ormat Technologies, Inc		1,488
	27,545		Otter Tail Corp		1,372
	50,689		Pattern Energy Group, Inc		1,115
	263,259	*,b	PG&E Corp		4,686
	73,930		Pinnacle West Capital Corp		7,066
	55,254		PNM Resources, Inc		2,616
	60,652		Portland General Electric Co		3,144
	479,569		PPL Corp		15,222
	334,261		Public Service Enterprise Group, Inc		19,858
	11,616	*	Pure Cycle Corp		115
	4,887		RGC Resources, Inc		130
	180,457		Sempra Energy		22,712
	12,005		SJW Corp		741
	58,642		South Jersey Industries, Inc		1,881
	679,211		Southern Co		35,102
	34,400		Southwest Gas Corp		2,830
	7,544	e	Spark Energy, Inc		67
	33,979		Spire, Inc		2,796
	49,399		TerraForm Power, Inc		679
	113,045		UGI Corp		6,265
	10,272		Unitil Corp		556
	255,191		Vistra Energy Corp		6,643
	209,470		WEC Energy Group, Inc		16,565
	344,186		Xcel Energy, Inc		19,347
	9,006		York Water Co		309
			TOTAL UTILITIES		601,923
			TOTAL COMMON STOCKS		18,756,193
			(Cost $8,371,848)
RIGHTS / WARRANTS - 0.0%
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	80,085	†	Media General, Inc		0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		0

318

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
MATERIALS - 0.0%
	20,886	†	A Schulman, Inc	$	9
	207,059	*,†	Pan American Silver Corp		47
			TOTAL MATERIALS		56
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	10,743	†	Forest Laboratories, Inc CVR		10
	4,045	†	Omthera Pharmaceuticals, Inc		3
	6,981		Tobira Therapeutics, Inc		0	^
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		13
			TOTAL RIGHTS / WARRANTS		69
			(Cost $197)

PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 1.1%
GOVERNMENT AGENCY DEBT - 0.2%
$	28,690,000		Federal Home Loan Bank (FHLB)		2.250	%	04/01/19		28,690
			TOTAL GOVERNMENT AGENCY DEBT						28,690
TREASURY DEBT - 0.1%
	17,825,000		United States Treasury Bill		2.386		04/02/19		17,824
	1,500,000		United States Treasury Bill		2.393		04/11/19		1,499
			TOTAL TREASURY DEBT						19,323
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.8%
	154,936,078	c	State Street Navigator Securities Lending Government Money Market Portfolio						154,936
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						154,936
			TOTAL SHORT-TERM INVESTMENTS						202,949
			(Cost $202,949)
			TOTAL INVESTMENTS - 100.7%						18,959,211
			(Cost $8,574,994)
			OTHER ASSETS & LIABILITIES, NET - (0.7)%						(140,814	)
			NET ASSETS - 100.0%					$	18,818,397

	Abbreviation(s):
CVR	Contingent Value Right
REIT	Real Estate Investment Trust

^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
b	In bankruptcy
c	Investments made with cash collateral received from securities on loan.

319

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

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 $150,672,388.
h	All or a portion of these securities were purchased on a delayed delivery basis.
	Cost amounts are in thousands.

Futures contracts outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):

Description	Number of long (short) contracts		Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
Russell 2000 E Mini Index		46	06/21/19	$	3,549	$	3,551	$	2
S&P 500 E Mini Index		227	06/21/19		31,966		32,209		243
S&P Mid-Cap 400 E Mini Index		10	06/21/19		1,886		1,901		15
Total		283		$	37,401	$	37,661	$	260

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2019

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.4%
CAPITAL GOODS - 0.0%
$	353,407	i	Avolon TLB Borrower  US LLC	LIBOR  1 M + 2.000%		4.490	%	01/15/25	$	350
	1,389,447	i	TransDigm, Inc	LIBOR  1 M + 2.500%		5.000		08/22/24		1,353
			TOTAL CAPITAL GOODS							1,703
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	1,044,750	i	United Rentals North America, Inc	LIBOR  1 M + 1.750%		4.250		10/31/25		1,040
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							1,040
CONSUMER DURABLES & APPAREL - 0.0%
	891,000	i	Hanesbrands, Inc	LIBOR  1 M + 1.750%		4.240		12/16/24		887
	1,488,750	i	Samsonite IP Holdings Sarl	LIBOR  1 M + 1.750%		4.250		04/25/25		1,467
			TOTAL CONSUMER DURABLES & APPAREL							2,354
CONSUMER SERVICES - 0.0%
	490,000	i	1011778 BC / New Red Finance, Inc	LIBOR  1 M + 2.250%		4.750		02/16/24		482
	484,396	i	Boyd Gaming Corp	LIBOR  1 W + 2.250%		4.660		09/15/23		480
	1,488,722	i	Las Vegas Sands LLC	LIBOR  1 M + 1.750%		4.250		03/27/25		1,461
			TOTAL CONSUMER SERVICES							2,423
DIVERSIFIED FINANCIALS - 0.0%
	163,922	i	Mallinckrodt International Finance S.A.	LIBOR  3 M + 2.750%		5.350		09/24/24		152
			TOTAL DIVERSIFIED FINANCIALS							152
ENERGY - 0.0%
	1,720,000	i	California Resources Corp	LIBOR  1 M + 10.375%		12.870		12/31/21		1,811
			TOTAL ENERGY							1,811
FOOD & STAPLES RETAILING - 0.0%
	205,343	i	Albertsons LLC	LIBOR  1 M + 3.000%		5.480		06/22/23		203
	707,020	i	YUM! Brands	LIBOR  1 M + 1.750%		4.230		04/03/25		701
			TOTAL FOOD & STAPLES RETAILING							904
FOOD, BEVERAGE & TOBACCO - 0.0%
	595,227	i	Post Holdings, Inc	LIBOR  1 M + 2.000%		4.490		05/24/24		589
			TOTAL FOOD, BEVERAGE & TOBACCO							589
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	480,000	i	Change Healthcare Holdings LLC	LIBOR  1 M + 2.750%		5.250		03/01/24		473
	3,241,875	i	Envision Healthcare Corp	LIBOR  1 M + 3.750%		6.250		10/10/25		3,028
	2,442,632	i	Team Health Holdings, Inc	LIBOR  1 M + 2.750%		5.250		02/06/24		2,166
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							5,667
MATERIALS - 0.1%
	1,470,000	i	Berry Global, Inc	LIBOR  1 M + 2.000%		4.490		01/19/24		1,457

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	493,750	i	Ineos US Finance LLC	LIBOR  1 M + 2.000%		4.500	%	03/31/24	$	484
	2,200,000	i	Messer Industries USA, Inc	LIBOR  3 M + 2.500%		5.100		03/01/26		2,152
	1,397,729	i	PolyOne Corp	LIBOR  1 M + 1.750%		4.240		01/30/26		1,381
	1,950,000	i	Starfruit US Holdco LLC	LIBOR  1 M + 3.250%		5.740		10/01/25		1,920
			TOTAL MATERIALS							7,394
MEDIA & ENTERTAINMENT - 0.1%
	967,148	i	CSC Holdings LLC	LIBOR  1 M + 2.250%		4.730		07/17/25		938
	725,000	i	CSC Holdings LLC	LIBOR  2 M + 3.000%		5.591		04/15/27		720
	2,478,007	i	Lions Gate Capital Holdings LLC	LIBOR  1 M + 2.250%		4.750		03/24/25		2,441
	1,492,405	i	Nielsen Finance LLC	LIBOR  1 M + 2.000%		4.490		10/04/23		1,463
	750,000	i	Virgin Media Bristol LLC	LIBOR  1 M + 2.500%		4.980		01/15/26		741
			TOTAL MEDIA & ENTERTAINMENT							6,303
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	122,813	i	Endo Luxembourg Finance I Co Sarl	LIBOR  1 M + 4.250%		6.750		04/29/24		120
	1,405,063	i	Valeant Pharmaceuticals International, Inc	LIBOR  1 M + 3.000%		5.480		06/02/25		1,395
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							1,515
REAL ESTATE - 0.0%
	1,393,000	i	DTZ US Borrower LLC	LIBOR  1 M + 3.250%		5.750		08/21/25		1,379
	2,885,128	i	MGM Growth Properties LLC	LIBOR  1 M + 2.000%		4.500		03/23/25		2,843
			TOTAL REAL ESTATE							4,222
RETAILING - 0.0%
	793,005	i	PetSmart, Inc	LIBOR  1 M + 3.000%		5.490		03/11/22		710
			TOTAL RETAILING							710
SOFTWARE & SERVICES - 0.1%
	913,121	i	First Data Corp	LIBOR  1 M + 2.000%		4.490		07/08/22		911
	4,488,750	i	Refinitiv US Holdings, Inc	LIBOR  1 M + 3.750%		6.250		10/01/25		4,355
	97,765	i	Sabre GLBL, Inc	LIBOR  1 M + 2.000%		4.500		02/22/24		97
			TOTAL SOFTWARE & SERVICES							5,363
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	256,025	i	CommScope, Inc	LIBOR  1 M + 2.000%		4.500		12/29/22		255
	1,492,443	i	Dell International LLC	LIBOR  1 M + 2.000%		4.500		09/07/23		1,474
	1,286,696	i	Plantronics, Inc	LIBOR  1 M + 2.500%		5.000		07/02/25		1,261
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							2,990
TRANSPORTATION - 0.0%
	2,909,808	i	American Airlines, Inc	LIBOR  1 M + 2.000%		4.480		12/14/23		2,852
	542,722	i	Vouvray US Finance, LLC	LIBOR  1 M + 3.000%		5.500		03/11/24		505
			TOTAL TRANSPORTATION							3,357
			TOTAL BANK LOAN OBLIGATIONS							48,497
			(Cost $49,677)
BONDS - 97.3%
CORPORATE BONDS - 32.1%
AUTOMOBILES & COMPONENTS - 0.4%

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
EUR	650,000	g	Adient Global Holdings Ltd		3.500	%	08/15/24	$	549
$	2,325,000		Aptiv plc		4.350		03/15/29		2,362
	8,775,000		General Motors Co		4.200		10/01/27		8,422
	6,950,000		General Motors Co		6.600		04/01/36		7,280
	3,350,000		General Motors Co		6.250		10/02/43		3,352
	6,500,000		General Motors Co		5.200		04/01/45		5,800
	1,925,000		General Motors Co		6.750		04/01/46		2,007
	2,875,000	g	Hyundai Capital America		3.250		09/20/22		2,859
	4,000,000	g	Hyundai Capital America		4.125		06/08/23		4,077
	1,653,000	g	Hyundai Capital America		2.750		09/27/26		1,517
EUR	400,000	g,o	IHO Verwaltungs GmbH		3.750		09/15/26		457
$	8,675,000		Magna International, Inc		3.625		06/15/24		8,829
			TOTAL AUTOMOBILES & COMPONENTS						47,511
BANKS - 6.4%
	3,075,000	g	Akbank TAS		7.200		03/16/27		2,635
	11,400,000	g	Banco del Estado de Chile		2.668		01/08/21		11,258
	500,000	g	Banco do Brasil S.A.		4.625		01/15/25		494
	550,000	g	Banco General S.A.		4.125		08/07/27		540
	3,800,000	g	Banco Internacional del Peru SAA Interbank		3.375		01/18/23		3,777
	6,400,000		Banco Santander S.A.		3.125		02/23/23		6,333
	3,800,000		Banco Santander S.A.		3.800		02/23/28		3,688
	4,025,000	g	Bangkok Bank PCL		4.050		03/19/24		4,134
	5,000,000	g	Bank Nederlandse Gemeenten		2.625		04/28/21		5,021
	2,350,000	g	Bank Nederlandse Gemeenten NV		2.500		02/28/20		2,350
	15,900,000		Bank of America Corp		2.151		11/09/20		15,740
	15,000,000		Bank of America Corp		3.864		07/23/24		15,415
EUR	400,000		Bank of America Corp		1.375		03/26/25		468
$	10,200,000		Bank of America Corp		3.875		08/01/25		10,568
EUR	300,000		Bank of America Corp		1.776		05/04/27		353
$	28,050,000		Bank of America Corp		3.248		10/21/27		27,487
	7,300,000		Bank of America Corp		3.419		12/20/28		7,145
	10,000,000		Bank of America Corp		4.271		07/23/29		10,422
	19,325,000		Bank of America Corp		3.974		02/07/30		19,717
	25,000,000		Bank of Nova Scotia		2.125		09/11/19		24,942
	5,450,000	g	Bank of Tokyo-Mitsubishi UFJ Ltd		2.350		09/08/19		5,439
	5,900,000		Barclays plc		4.338		05/16/24		5,968
	6,700,000		Barclays plc		3.650		03/16/25		6,531
	18,400,000	g	BNG Bank NV		3.000		09/20/23		18,839
	9,750,000		Capital One Bank USA NA		2.650		08/08/22		9,637
	4,500,000		Capital One Bank USA NA		3.375		02/15/23		4,500
	20,320,000		Capital One NA		2.350		01/31/20		20,218
EUR	250,000		Citigroup, Inc		1.500		07/24/26		289
$	50,075,000		Citigroup, Inc		3.200		10/21/26		49,086
	6,575,000		Citigroup, Inc		4.300		11/20/26		6,688
	10,850,000		Citigroup, Inc		3.668		07/24/28		10,833
	7,400,000		Citizens Bank NA		2.650		05/26/22		7,340
	6,875,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA		3.950		11/09/22		7,004
	5,650,000	g	Cooperatieve Rabobank UA		3.875		09/26/23		5,820
	15,225,000		Cooperatieve Rabobank UA		3.750		07/21/26		15,026
	4,825,000	g	Credit Agricole S.A.		2.500		04/15/19		4,824
	5,500,000	g	Credit Agricole S.A.		2.375		07/01/21		5,440
	11,050,000	g	Credit Agricole S.A.		3.250		10/04/24		10,867

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,450,000	g	DBS Group Holdings Ltd		4.520	%	12/11/28	$	2,537
	4,875,000		Discover Bank		3.200		08/09/21		4,899
	1,400,000		Discover Bank		3.450		07/27/26		1,357
	5,150,000		HSBC Holdings plc		2.650		01/05/22		5,105
	6,575,000		HSBC Holdings plc		3.262		03/13/23		6,593
GBP	500,000		HSBC Holdings plc		2.175		06/27/23		655
$	4,250,000		HSBC Holdings plc		3.033		11/22/23		4,229
	11,825,000		HSBC Holdings plc		3.900		05/25/26		11,982
	17,350,000		HSBC Holdings plc		4.292		09/12/26		17,904
	3,825,000		HSBC Holdings plc		4.375		11/23/26		3,921
	6,450,000		HSBC Holdings plc		4.041		03/13/28		6,505
	13,025,000		Huntington National Bank		2.500		08/07/22		12,901
	4,350,000	g	ING Groep NV		4.625		01/06/26		4,566
	2,125,000	g	Intercorp Financial Services, Inc		4.125		10/19/27		2,074
	12,925,000		JPMorgan Chase & Co		2.750		06/23/20		12,933
	10,850,000		JPMorgan Chase & Co		2.776		04/25/23		10,793
	4,850,000		JPMorgan Chase & Co		2.700		05/18/23		4,804
	20,400,000		JPMorgan Chase & Co		3.200		06/15/26		20,284
	21,275,000		JPMorgan Chase & Co		2.950		10/01/26		20,806
EUR	600,000		JPMorgan Chase & Co		1.638		05/18/28		704
$	12,000,000		JPMorgan Chase & Co		4.203		07/23/29		12,530
	5,750,000		JPMorgan Chase & Co		3.882		07/24/38		5,652
	33,300,000		JPMorgan Chase Bank NA		3.086		04/26/21		33,391
	2,700,000		KeyBank NA		2.500		12/15/19		2,696
	4,475,000	g	Macquarie Bank Ltd		2.600		06/24/19		4,473
	9,950,000		Manufacturers & Traders Trust Co		2.100		02/06/20		9,902
	12,500,000		Mitsubishi UFJ Financial Group, Inc		3.761		07/26/23		12,841
	5,775,000		Mitsubishi UFJ Financial Group, Inc		3.741		03/07/29		5,929
	5,700,000		MUFG Americas Holdings Corp		3.500		06/18/22		5,790
	17,000,000		PNC Bank NA		2.600		07/21/20		16,987
	5,625,000		PNC Bank NA		2.450		11/05/20		5,603
	10,950,000		PNC Bank NA		2.700		11/01/22		10,901
	6,000,000		PNC Financial Services Group, Inc		3.900		04/29/24		6,202
	40,000,000		Royal Bank of Canada		1.875		02/05/20		39,743
	30,000,000	g	Royal Bank of Canada		3.350		10/22/21		30,545
	11,800,000		Royal Bank of Canada		3.700		10/05/23		12,197
	9,350,000		Santander Holdings USA, Inc		3.400		01/18/23		9,357
	4,825,000		Santander Holdings USA, Inc		4.400		07/13/27		4,786
	13,100,000	g	Skandinaviska Enskilda Banken AB		2.625		11/17/20		13,037
	3,175,000	g	State Bank of India		4.375		01/24/24		3,254
	6,650,000		Sumitomo Mitsui Banking Corp		2.450		01/16/20		6,633
	13,875,000		Sumitomo Mitsui Financial Group, Inc		2.442		10/19/21		13,717
	3,675,000		Sumitomo Mitsui Financial Group, Inc		2.778		10/18/22		3,656
	6,850,000		SunTrust Bank		2.900		03/03/21		6,868
	3,900,000		SunTrust Bank		4.050		11/03/25		4,112
	5,700,000		SunTrust Banks, Inc		2.750		05/01/23		5,656
	13,700,000		Toronto-Dominion Bank		1.850		09/11/20		13,553
	2,350,000		Toronto-Dominion Bank		3.625		09/15/31		2,323
	4,275,000	g	Turkiye Is Bankasi		6.125		04/25/24		3,633
	5,000,000	g	UBS AG.		2.450		12/01/20		4,971
	7,575,000		Wells Fargo Bank NA		3.325		07/23/21		7,625
	10,000,000		Westpac Banking Corp		2.750		01/11/23		9,939
	8,475,000		Westpac Banking Corp		4.322		11/23/31		8,406
	3,000,000	g	Yapi ve Kredi Bankasi AS.		6.100		03/16/23		2,706
			TOTAL BANKS						862,002

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
CAPITAL GOODS - 0.7%
GBP	1,000,000		BAE Systems plc		4.125	%	06/08/22	$	1,386
$	4,575,000		General Electric Co		4.125		10/09/42		3,977
EUR	1,000,000		Illinois Tool Works, Inc		1.250		05/22/23		1,172
$	3,450,000		Johnson Controls International plc		4.250		03/01/21		3,529
	2,375,000	g	Korea East-West Power Co Ltd		3.875		07/19/23		2,450
	2,875,000		Lam Research Corp		3.750		03/15/26		2,928
	3,275,000		Lam Research Corp		4.000		03/15/29		3,341
	8,350,000		Lockheed Martin Corp		2.500		11/23/20		8,325
	6,375,000	g	Molex Electronic Technologies LLC		2.878		04/15/20		6,364
	9,825,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		9,917
	1,725,000		Mosaic Co		4.875		11/15/41		1,663
EUR	500,000		Parker-Hannifin Corp		1.125		03/01/25		571
$	5,475,000		Roper Technologies, Inc		3.800		12/15/26		5,543
	350,000	g	Stena AB		7.000		02/01/24		336
	2,075,000		Textron, Inc		3.875		03/01/25		2,091
	650,000		Trimble, Inc		4.900		06/15/28		665
	7,681,000		United Technologies Corp		2.800		05/04/24		7,588
EUR	500,000		United Technologies Corp		1.150		05/18/24		575
$	16,450,000		United Technologies Corp		4.125		11/16/28		17,144
	10,400,000		United Technologies Corp		4.450		11/16/38		10,769
			TOTAL CAPITAL GOODS						90,334
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
	1,425,000		ADT Corp		6.250		10/15/21		1,495
	4,875,000		AECOM		5.875		10/15/24		5,137
	7,153,000	g	Prime Security Services Borrower LLC		9.250		05/15/23		7,511
	2,350,000	g,h	Prime Security Services Borrower LLC		5.250		04/15/24		2,350
	2,250,000	g,h	Prime Security Services Borrower LLC		5.750		04/15/26		2,250
EUR	500,000		RELX Capital, Inc		1.300		05/12/25		579
$	11,102,000		Republic Services, Inc		3.550		06/01/22		11,352
	7,971,000		Republic Services, Inc		2.900		07/01/26		7,807
	1,000,000		United Rentals North America, Inc		4.625		10/15/25		987
	9,650,000		Waste Management, Inc		2.900		09/15/22		9,686
	9,700,000		Waste Management, Inc		3.150		11/15/27		9,676
	2,000,000		Waste Management, Inc		3.900		03/01/35		2,007
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,300
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						63,137
CONSUMER DURABLES & APPAREL - 0.1%
	3,375,000		Leggett & Platt, Inc		4.400		03/15/29		3,408
	8,075,000		Newell Rubbermaid, Inc		4.200		04/01/26		7,713
			TOTAL CONSUMER DURABLES & APPAREL						11,121
CONSUMER SERVICES - 0.9%
	9,820,000		Amherst College		4.100		11/01/45		10,297
	29,085,000	g	Anheuser-Busch Cos LLC		3.650		02/01/26		29,192
	EUR 680,000	g	Aramark International Finance Sarl		3.125		04/01/25		794

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,400,000	g	Arcos Dorados Holdings, Inc		5.875	%	04/04/27	$	2,403
	600,000		Boyd Gaming Corp		6.000		08/15/26		615
	2,000,000		Duke University		3.199		10/01/38		1,889
	4,500,000		George Washington University		3.545		09/15/46		4,347
	1,610,000	g	International Game Technology		6.250		02/15/22		1,672
	1,610,000	g	International Game Technology		6.500		02/15/25		1,674
EUR	500,000	g	International Game Technology plc		4.750		02/15/23		609
$	5,000,000		Johns Hopkins University		4.083		07/01/53		5,409
	750,000		MGM Resorts International		4.625		09/01/26		729
	9,605,000		Northwestern University		3.812		12/01/50		9,665
	8,000,000		President and Fellows of Harvard College		3.529		10/01/31		8,352
	14,250,000		President and Fellows of Harvard College		3.619		10/01/37		14,560
	2,025,000		Sands China Ltd		5.125		08/08/25		2,112
	2,100,000		Sands China Ltd		5.400		08/08/28		2,202
	1,000,000	g	Scientific Games International, Inc		5.000		10/15/25		980
EUR	500,000	g	Scientific Games International, Inc		3.375		02/15/26		541
$	2,600,000	g	ServiceMaster Co LLC		5.125		11/15/24		2,610
	15,000,000		Smith College		4.620		07/01/45		17,061
	6,600,000		Trustees of Dartmouth College		3.474		06/01/46		6,488
			TOTAL CONSUMER SERVICES						124,201
DIVERSIFIED FINANCIALS - 3.7%
	4,920,000		AerCap Ireland Capital DAC		3.500		01/15/25		4,748
	12,200,000		American Express Co		3.000		02/22/21		12,263
	10,625,000		American Express Co		2.500		08/01/22		10,504
	2,775,000		American Express Credit Corp		3.300		05/03/27		2,813
	3,975,000		Ameriprise Financial, Inc		3.000		03/22/22		3,999
	6,000,000		Australia & New Zealand Banking Group Ltd		2.625		05/19/22		5,965
	2,250,000	g	Avolon Holdings Funding Ltd		5.125		10/01/23		2,289
	500,000		AXA Equitable Holdings, Inc		5.000		04/20/48		489
	5,350,000		Bank of Montreal		3.803		12/15/32		5,173
	4,125,000		Bank of New York Mellon Corp		5.450		05/15/19		4,139
	300,000	g	BBVA Bancomer S.A.		5.350		11/12/29		288
	4,200,000	g	BBVA Bancomer S.A.		5.125		01/18/33		3,862
	10,525,000		Berkshire Hathaway, Inc		3.125		03/15/26		10,641
	2,450,000	g	BPCE S.A.		4.000		09/12/23		2,487
	5,224,000	g	BPCE S.A.		4.625		07/11/24		5,328
	1,733,000	g	BPCE S.A.		4.500		03/15/25		1,744
	26,000,000	g	Canadian Imperial Bank of Commerce		3.150		06/27/21		26,318
	8,550,000		Capital One Financial Corp		3.900		01/29/24		8,741
	9,800,000	g	Credit Suisse Group AG.		2.997		12/14/23		9,633
EUR	250,000	g	Credit Suisse Group AG.		1.250		07/17/25		284
$	3,900,000	g	Credit Suisse Group AG.		4.282		01/09/28		3,948
	7,700,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		7,823
	10,250,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		10,334
	9,200,000		Deutsche Bank AG.		3.950		02/27/23		9,080
	4,875,000		Discover Financial Services		4.500		01/30/26		5,008
	9,544,773		DY9 Leasing LLC		2.372		03/19/27		9,470
EUR	500,000		EDP Finance BV		1.125		02/12/24		572
$	4,975,000		Ford Motor Credit Co LLC		2.425		06/12/20		4,910
	4,000,000		Ford Motor Credit Co LLC		3.096		05/04/23		3,753
	12,925,000		Ford Motor Credit Co LLC		3.815		11/02/27		11,264
	4,825,000		GE Capital International Funding Co		3.373		11/15/25		4,685
	9,960,000		GE Capital International Funding Co		4.418		11/15/35		9,229

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,432,000		General Electric Capital Corp		5.875	%	01/14/38	$	1,525
	108,000		General Electric Capital Corp		6.875		01/10/39		128
	6,500,000		General Motors Financial Co, Inc		3.950		04/13/24		6,436
EUR	850,000		Goldman Sachs Group, Inc		2.000		07/27/23		1,005
$	13,575,000		Goldman Sachs Group, Inc		3.500		01/23/25		13,538
	18,250,000		Goldman Sachs Group, Inc		3.691		06/05/28		18,071
	6,600,000		Goldman Sachs Group, Inc		3.814		04/23/29		6,543
	6,075,000		Goldman Sachs Group, Inc		4.017		10/31/38		5,825
	7,675,000		Goldman Sachs Group, Inc		4.800		07/08/44		8,133
	1,510,823		Golondrina Leasing LLC		1.822		05/03/25		1,475
	1,116,297		Helios Leasing I LLC		2.018		05/29/24		1,097
	1,725,000		Icahn Enterprises LP		5.875		02/01/22		1,746
	5,375,000	g	ICICI Bank Ltd		3.800		12/14/27		5,228
	3,200,000		International Lease Finance Corp		5.875		04/01/19		3,200
	5,000,000		International Lease Finance Corp		5.875		08/15/22		5,392
	3,050,000		Jefferies Group LLC		4.150		01/23/30		2,795
	1,625,000		Legg Mason, Inc		2.700		07/15/19		1,624
	2,400,000		Legg Mason, Inc		3.950		07/15/24		2,429
EUR	350,000	g	Lincoln Finance Ltd		6.875		04/15/21		400
$	7,625,000		Morgan Stanley		3.125		01/23/23		7,651
	2,750,000		Morgan Stanley		3.737		04/24/24		2,807
	24,800,000		Morgan Stanley		3.700		10/23/24		25,247
	32,125,000		Morgan Stanley		3.125		07/27/26		31,314
EUR	900,000		Morgan Stanley		1.342		10/23/26		1,026
$	1,925,000		Morgan Stanley		4.431		01/23/30		2,032
	3,088,353		Santa Rosa Leasing LLC		1.693		08/15/24		3,009
	17,580,000		Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		16,999
	2,600,000	g	Swiss Re Finance Luxembourg SA		5.000		04/02/49		2,635
	4,050,000		Synchrony Financial		4.250		08/15/24		4,077
	6,625,000		TD Ameritrade Holding Corp		3.300		04/01/27		6,657
	6,800,000	g	UBS Group Funding Jersey Ltd		2.950		09/24/20		6,799
	10,157,000	g	UBS Group Funding Switzerland AG.		2.859		08/15/23		10,010
	9,775,000		Unilever Capital Corp		2.900		05/05/27		9,633
	45,550,000		Wells Fargo & Co		2.625		07/22/22		45,228
	8,400,000		Wells Fargo & Co		3.750		01/24/24		8,647
	5,300,000		Wells Fargo & Co		3.550		09/29/25		5,395
	13,850,000		Wells Fargo & Co		3.000		04/22/26		13,545
	13,000,000		Wells Fargo & Co		4.150		01/24/29		13,594
			TOTAL DIVERSIFIED FINANCIALS						504,679
ENERGY - 3.1%
	1,825,000	g	Abu Dhabi Crude Oil Pipeline LLC		4.600		11/02/47		1,883
	2,375,000		AmeriGas Partners LP		5.625		05/20/24		2,414
	2,050,000		AmeriGas Partners LP		5.875		08/20/26		2,047
	4,200,000		Anadarko Petroleum Corp		5.550		03/15/26		4,585
	5,925,000		Anadarko Petroleum Corp		4.500		07/15/44		5,593
	3,025,000		Andeavor Logistics LP		4.250		12/01/27		3,047
	3,100,000		Andeavor Logistics LP		5.200		12/01/47		3,104
	2,900,000		Apache Corp		4.750		04/15/43		2,738
	1,575,000	g	APT Pipelines Ltd		4.250		07/15/27		1,597
	2,350,000	g	Archrock Partners LP / Archrock Partners Finance Corp		6.875		04/01/27		2,396
	3,800,000		BP Capital Markets America, Inc		2.520		09/19/22		3,765

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	13,000,000		BP Capital Markets America, Inc		3.796	%	09/21/25	$	13,486
	7,500,000		BP Capital Markets America, Inc		3.588		04/14/27		7,625
	6,575,000		BP Capital Markets plc		3.279		09/19/27		6,551
	699,000	g	California Resources Corp		8.000		12/15/22		549
	478,000	†	California Resources Corp		6.000		11/15/24		320
	6,500,000		Cenovus Energy, Inc		4.450		09/15/42		5,757
	2,800,000	g	Cheniere Energy Partners LP		5.625		10/01/26		2,870
	3,025,000		Cimarex Energy Co		3.900		05/15/27		3,019
	5,800,000		Cimarex Energy Co		4.375		03/15/29		5,973
	6,200,000	g	Colonial Pipeline Co		4.250		04/15/48		6,265
	6,150,000		Concho Resources, Inc		3.750		10/01/27		6,105
	3,875,000		Continental Resources, Inc		3.800		06/01/24		3,912
	690,000		Continental Resources, Inc		4.375		01/15/28		710
	2,375,000		Crestwood Midstream Partners LP		5.750		04/01/25		2,434
	2,150,000		Ecopetrol S.A.		5.375		06/26/26		2,317
	3,200,000		Ecopetrol S.A.		5.875		05/28/45		3,316
	7,750,000		Enbridge, Inc		3.700		07/15/27		7,734
	5,775,000		Energy Transfer Operating LP		5.250		04/15/29		6,203
	5,800,000		Energy Transfer Operating LP		6.250		04/15/49		6,501
	8,400,000		Energy Transfer Partners LP		4.750		01/15/26		8,778
	7,850,000		Energy Transfer Partners LP		4.950		06/15/28		8,241
	5,125,000		Enterprise Products Operating LLC		3.700		02/15/26		5,253
	8,400,000		Enterprise Products Operating LLC		4.150		10/16/28		8,847
	4,025,000		Enterprise Products Operating LLC		4.250		02/15/48		3,948
	3,000,000		Exterran Partners LP		6.000		04/01/21		2,998
	2,250,000		Exterran Partners LP		6.000		10/01/22		2,267
	300,000	g	Gazprom OAO Via Gaz Capital S.A.		4.950		03/23/27		300
	5,275,000	g	KazMunayGas National Co JSC		5.375		04/24/30		5,530
	4,850,000		Kinder Morgan Energy Partners LP		5.400		09/01/44		5,145
EUR	500,000		Kinder Morgan, Inc		2.250		03/16/27		599
$	2,065,000		Kinder Morgan, Inc		5.300		12/01/34		2,240
	5,030,000		Marathon Oil Corp		2.700		06/01/20		5,007
	2,000,000		Marathon Oil Corp		4.400		07/15/27		2,060
	11,387,000		MPLX LP		4.125		03/01/27		11,468
	5,850,000		MPLX LP		4.000		03/15/28		5,816
	6,150,000		MPLX LP		4.500		04/15/38		5,856
	6,150,000		MPLX LP		4.700		04/15/48		5,899
	900,000		Noble Energy, Inc		3.900		11/15/24		909
	9,500,000		Noble Energy, Inc		3.850		01/15/28		9,366
	6,075,000		Noble Energy, Inc		5.050		11/15/44		6,046
	1,500,000		Noble Energy, Inc		4.950		08/15/47		1,484
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,598
	4,000,000		ONEOK, Inc		4.000		07/13/27		4,011
	12,150,000		ONEOK, Inc		4.350		03/15/29		12,367
	5,125,000	g	Pertamina Persero PT		4.300		05/20/23		5,268
	3,050,000	g	Peru LNG Srl		5.375		03/22/30		3,172
	2,025,000		Petrobras Global Finance BV		5.299		01/27/25		2,054
	2,335,000		Petrobras Global Finance BV		5.999		01/27/28		2,363
	400,000		Petrobras Global Finance BV		5.750		02/01/29		396
	750,000		Petrobras Global Finance BV		7.250		03/17/44		783
	200,000		Petrobras Global Finance BV		6.900		03/19/49		198
	4,000,000		Petroleos Mexicanos		6.375		02/04/21		4,148
EUR	375,000		Petroleos Mexicanos		1.875		04/21/22		416
$	8,000,000		Petroleos Mexicanos		1.950		12/20/22		7,885

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,280,000		Petroleos Mexicanos		2.000	%	12/20/22	$	4,226
	6,000,000		Petroleos Mexicanos		3.500		01/30/23		5,731
	3,900,000		Petroleos Mexicanos		4.500		01/23/26		3,626
	3,775,000		Petroleos Mexicanos		6.500		03/13/27		3,791
	3,050,000		Petroleos Mexicanos		5.350		02/12/28		2,830
	6,575,000		Phillips 66 Partners LP		3.550		10/01/26		6,461
	3,275,000		Phillips 66 Partners LP		4.680		02/15/45		3,215
	1,600,000		Phillips 66 Partners LP		4.900		10/01/46		1,632
	614,000		Pioneer Natural Resources Co		7.500		01/15/20		635
	8,675,000		Pioneer Natural Resources Co		3.450		01/15/21		8,766
	3,335,000		Range Resources Corp		5.000		08/15/22		3,302
	1,200,000		Regency Energy Partners LP		4.500		11/01/23		1,251
	4,750,000	g	Reliance Industries Ltd		3.667		11/30/27		4,623
	9,875,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		9,964
	5,550,000		Shell International Finance BV		2.250		01/06/23		5,465
	4,875,000		Shell International Finance BV		3.250		05/11/25		4,968
	6,825,000		Shell International Finance BV		4.000		05/10/46		7,121
	3,950,000		Spectra Energy Partners LP		3.500		03/15/25		3,952
	6,500,000		Sunoco Logistics Partners Operations LP		4.000		10/01/27		6,452
	1,000,000		Sunoco LP		4.875		01/15/23		1,016
	600,000		Targa Resources Partners LP		5.125		02/01/25		612
	1,000,000	g	Targa Resources Partners LP		5.875		04/15/26		1,057
	425,000	g	Targa Resources Partners LP		6.500		07/15/27		458
	1,250,000	g	Targa Resources Partners LP		6.875		01/15/29		1,361
EUR	600,000		Total Capital International S.A.		2.500		03/25/26		772
$	13,250,000		TransCanada PipeLines Ltd		4.250		05/15/28		13,838
	2,500,000		Vale Overseas Ltd		6.250		08/10/26		2,717
	6,150,000		Valero Energy Partners LP		4.500		03/15/28		6,367
	3,850,000		Western Gas Partners LP		3.950		06/01/25		3,797
	4,550,000		Western Gas Partners LP		4.650		07/01/26		4,612
	5,075,000		Williams Partners LP		3.600		03/15/22		5,148
	1,175,000		Williams Partners LP		4.900		01/15/45		1,175
	350,000		WPX Energy, Inc		8.250		08/01/23		394
	2,400,000		WPX Energy, Inc		5.250		09/15/24		2,424
	2,000,000	g	YPF S.A.		8.500		07/28/25		1,962
	2,225,000	g	YPF S.A.		6.950		07/21/27		1,976
			TOTAL ENERGY						417,229
FOOD & STAPLES RETAILING - 0.9%
	9,200,000		CVS Health Corp		3.700		03/09/23		9,347
	15,950,000		CVS Health Corp		2.875		06/01/26		15,100
	26,875,000		CVS Health Corp		4.300		03/25/28		27,257
	20,300,000		CVS Health Corp		4.780		03/25/38		20,132
	3,350,000		CVS Health Corp		5.050		03/25/48		3,377
	4,900,000		Ingles Markets, Inc		5.750		06/15/23		4,992
	5,575,000		Kroger Co		3.700		08/01/27		5,489
	2,450,000		Kroger Co		4.500		01/15/29		2,509
EUR	1,000,000		SYSCO Corp		1.250		06/23/23		1,154
$	7,575,000		Walgreens Boots Alliance, Inc		3.450		06/01/26		7,419
	22,300,000		Walmart, Inc		3.700		06/26/28		23,478
	6,150,000		Walmart, Inc		3.950		06/28/38		6,472
			TOTAL FOOD & STAPLES RETAILING						126,726

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
FOOD, BEVERAGE & TOBACCO - 1.1%
$	4,000,000		Altria Group, Inc		4.400	%	02/14/26	$	4,120
	3,500,000		Altria Group, Inc		4.800		02/14/29		3,612
	5,800,000		Altria Group, Inc		5.950		02/14/49		6,223
	6,691,000		Anheuser-Busch InBev Finance, Inc		2.650		02/01/21		6,681
	20,025,000		Anheuser-Busch InBev Finance, Inc		3.300		02/01/23		20,320
	6,600,000		Anheuser-Busch InBev Worldwide, Inc		4.150		01/23/25		6,881
	14,800,000		Anheuser-Busch InBev Worldwide, Inc		4.750		01/23/29		15,759
	6,000,000		Anheuser-Busch InBev Worldwide, Inc		5.450		01/23/39		6,499
	2,900,000		Campbell Soup Co		4.150		03/15/28		2,892
	5,800,000		ConAgra Brands, Inc		4.850		11/01/28		6,097
	1,700,000		Constellation Brands, Inc		4.400		11/15/25		1,786
	8,200,000		Constellation Brands, Inc		3.600		02/15/28		8,032
	3,000,000	g	Corp Lindley S.A.		4.625		04/12/23		3,049
	5,800,000		Diageo Capital plc		3.500		09/18/23		6,011
	4,925,000		Diageo Capital plc		3.875		05/18/28		5,208
	3,700,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		3,580
	2,400,000	g	Grupo Bimbo SAB de C.V.		5.950		N/A‡		2,467
	8,425,000	g	Heineken NV		3.500		01/29/28		8,475
	3,600,000	g	Heineken NV		4.350		03/29/47		3,635
	3,900,000		Kellogg Co		3.400		11/15/27		3,751
	4,115,000		Mead Johnson Nutrition Co		4.900		11/01/19		4,163
	3,125,000		PepsiCo, Inc		3.450		10/06/46		3,016
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		1,984
	2,700,000		Tyson Foods, Inc		3.900		09/28/23		2,783
	4,600,000		Tyson Foods, Inc		3.550		06/02/27		4,526
	5,800,000		Tyson Foods, Inc		5.100		09/28/48		5,914
			TOTAL FOOD, BEVERAGE & TOBACCO						147,464
HEALTH CARE EQUIPMENT & SERVICES - 0.8%
	11,100,000		Anthem, Inc		3.650		12/01/27		11,083
EUR	430,000		Becton Dickinson and Co		1.401		05/24/23		496
	670,000		Becton Dickinson and Co		1.900		12/15/26		785
$	17,775,000		Becton Dickinson and Co		3.700		06/06/27		17,725
	4,850,000		Boston Scientific Corp		4.000		03/01/29		5,007
	7,250,000		Cardinal Health, Inc		3.410		06/15/27		6,852
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,865
	4,105,000		Dartmouth-Hitchcock Health		4.178		08/01/48		4,185
EUR	500,000		DH Europe Finance S.A.		1.200		06/30/27		568
$	5,225,000		HCA, Inc		5.625		09/01/28		5,525
	1,275,000		HCA, Inc		5.875		02/01/29		1,374
	5,000,000		HCA, Inc		5.500		06/15/47		5,336
	647,000		Medtronic, Inc		4.625		03/15/45		741
	12,500,000		Mercy Health		3.382		11/01/25		12,482
	5,000,000		New York and Presbyterian Hospital		3.563		08/01/36		4,859
EUR	500,000		Stryker Corp		2.125		11/30/27		611
	450,000		Stryker Corp		2.625		11/30/30		568
$	2,000,000		Tenet Healthcare Corp		4.375		10/01/21		2,035
	5,350,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		5,160
EUR	300,000		Thermo Fisher Scientific, Inc		1.950		07/24/29		358
	325,000		Thermo Fisher Scientific, Inc		2.875		07/24/37		401
$	5,775,000		UnitedHealth Group, Inc		2.950		10/15/27		5,675
	4,625,000		UnitedHealth Group, Inc		3.750		10/15/47		4,501
	2,150,000		Zimmer Biomet Holdings, Inc		3.700		03/19/23		2,170

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	3,745,000		Zimmer Holdings, Inc			3.550	%	04/01/25	$	3,696
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							106,058
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
EUR	600,000		The Procter & Gamble Company			0.625		10/30/24		687
	400,000		The Procter & Gamble Company			1.875		10/30/38		492
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							1,179
INSURANCE - 1.2%
$	6,250,000		ACE INA Holdings, Inc			2.875		11/03/22		6,302
	1,925,000		Aetna, Inc			6.625		06/15/36		2,283
	5,500,000		Allstate Corp			3.280		12/15/26		5,582
	8,500,000		Allstate Corp			5.750		08/15/53		8,649
	2,700,000		American Financial Group, Inc			3.500		08/15/26		2,607
EUR	650,000		American International Group, Inc			1.500		06/08/23		751
$	2,500,000		American International Group, Inc			3.750		07/10/25		2,505
	6,750,000		American International Group, Inc			3.900		04/01/26		6,799
	2,875,000		American International Group, Inc			4.200		04/01/28		2,923
	12,975,000		Aon plc			3.500		06/14/24		13,168
	2,400,000		Berkshire Hathaway Finance Corp			4.250		01/15/49		2,514
	19,230,000		Children’s Hospital Medic			4.268		05/15/44		20,297
EUR	500,000		Chubb INA Holdings, Inc			1.550		03/15/28		585
$	3,525,000		CNA Financial Corp			3.950		05/15/24		3,584
	3,050,000		CNA Financial Corp			3.450		08/15/27		2,980
	7,500,000	g,i	Cranberry RE Ltd	LIBOR 6 M + 1.600%		4.279		07/13/20		7,411
EUR	250,000	g	Fairfax Financial Holdings Ltd			2.750		03/29/28		294
$	5,575,000	g	Five Corners Funding Trust			4.419		11/15/23		5,888
	1,350,000		Hartford Financial Services Group, Inc			4.300		04/15/43		1,348
	6,250,000		Humana, Inc			3.950		03/15/27		6,320
	728,000	g	Liberty Mutual Group, Inc			4.250		06/15/23		755
EUR	750,000		Liberty Mutual Group, Inc			2.750		05/04/26		913
$	2,572,000	g	Liberty Mutual Group, Inc			4.569		02/01/29		2,677
	2,425,000		Lincoln National Corp			3.800		03/01/28		2,460
	3,250,000		Markel Corp			3.500		11/01/27		3,097
	1,600,000		Marsh & McLennan Cos, Inc			3.500		06/03/24		1,632
	1,365,000		Marsh & McLennan Cos, Inc			3.500		03/10/25		1,401
	4,325,000		MetLife, Inc			3.600		11/13/25		4,465
	8,050,000		Prudential Financial, Inc			7.375		06/15/19		8,121
	9,200,000		Prudential Financial, Inc			3.878		03/27/28		9,675
	3,000,000	g	Prudential Funding LLC			6.750		09/15/23		3,422
	1,250,000		Verisk Analytics, Inc			4.125		03/15/29		1,283
	7,750,000	g,i	Vitality Re IX Ltd			3.981		01/10/22		7,696
	3,500,000	g	Vitality Re X Ltd			4.131		01/10/23		3,497
	2,400,000		WR Berkley Corp			5.375		09/15/20		2,468
			TOTAL INSURANCE							156,352
MATERIALS - 0.9%
	3,349,000		Albemarle Corp			5.450		12/01/44		3,466
	2,060,000		ArcelorMittal			6.250		02/25/22		2,223
EUR	850,000	g	Axalta Coating Systems Dutch Holding B BV			3.750		01/15/25		989
	250,000		Ball Corp			4.375		12/15/23		319
$	852,000		Bemis Co, Inc			3.100		09/15/26		807

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	200,000		Celulosa Arauco y Constitucion S.A.		3.875	%	11/02/27	$	192
EUR	200,000	g	Cemex SAB de C.V.		3.125		03/19/26		226
$	2,375,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.000		07/17/22		2,372
	3,900,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.625		08/01/27		3,906
	3,250,000	g	CRH America Finance, Inc		3.400		05/09/27		3,114
	3,900,000	g	Dow Chemical Co		4.550		11/30/25		4,118
	3,250,000		Dow Chemical Co		4.375		11/15/42		3,106
	8,820,000		DowDuPont, Inc		4.725		11/15/28		9,526
	3,850,000		DowDuPont, Inc		5.319		11/15/38		4,286
	1,100,000	g	Eldorado Gold Corp		6.125		12/15/20		1,077
	2,600,000	g	Glencore Funding LLC		4.000		03/27/27		2,525
	1,150,000		Goldcorp, Inc		5.450		06/09/44		1,265
	9,825,000		International Paper Co		4.350		08/15/48		9,188
	4,300,000	g	Inversiones CMPC S.A.		4.375		04/04/27		4,323
	3,400,000	g	Klabin Finance S.A.		4.875		09/19/27		3,298
	5,800,000	g	Midwest Connector Capital Co LLC		3.900		04/01/24		5,897
	5,800,000	g	Midwest Connector Capital Co LLC		4.625		04/01/29		5,992
	2,400,000		Newmont Mining Corp		3.500		03/15/22		2,434
	3,200,000		Newmont Mining Corp		4.875		03/15/42		3,357
	3,000,000	g	Nexa Resources S.A.		5.375		05/04/27		3,084
	3,500,000	g	Nova Chemicals Corp		4.875		06/01/24		3,439
	4,767,000		Nutrien Ltd		3.375		03/15/25		4,704
	4,225,000	h	Nutrien Ltd		4.200		04/01/29		4,344
EUR	125,000	g	OCI NV		5.000		04/15/23		148
$	500,000	g	OCI NV		6.625		04/15/23		518
	3,000,000	g	OCP S.A.		4.500		10/22/25		2,966
EUR	250,000	g	OI European Group BV		3.125		11/15/24		295
$	325,000	g	POSCO		4.000		08/01/23		335
	8,300,000		Rio Tinto Finance USA Ltd		3.750		06/15/25		8,714
	5,000,000		Rock Tenn Co		3.500		03/01/20		5,024
	2,550,000	g	SABIC Capital II BV		4.000		10/10/23		2,601
EUR	100,000	g	Sappi Papier Holding GmbH		3.125		04/15/26		113
$	1,650,000		SASOL Financing USA LLC		6.500		09/27/28		1,802
	4,600,000		Sherwin-Williams Co		3.450		06/01/27		4,523
EUR	750,000		Silgan Holdings, Inc		3.250		03/15/25		868
$	1,800,000		Steel Dynamics, Inc		5.250		04/15/23		1,829
	1,700,000		Westlake Chemical Corp		3.600		08/15/26		1,646
			TOTAL MATERIALS						124,959
MEDIA & ENTERTAINMENT - 1.7%
GBP	425,000		AMC Entertainment Holdings, Inc		6.375		11/15/24		538
$	1,750,000		CBS Corp		2.900		06/01/23		1,729
	4,200,000		CBS Corp		2.900		01/15/27		3,925
	2,500,000		CBS Corp		3.375		02/15/28		2,384
	5,225,000		Charter Communications Operating LLC		3.579		07/23/20		5,264
	22,275,000		Charter Communications Operating LLC		4.908		07/23/25		23,489
	3,400,000		Charter Communications Operating LLC		5.375		05/01/47		3,387
	5,000,000		Charter Communications Operating LLC		5.750		04/01/48		5,234
	3,500,000		Cinemark USA, Inc		4.875		06/01/23		3,559
	16,400,000		Comcast Corp		3.700		04/15/24		16,945
	11,800,000		Comcast Corp		3.950		10/15/25		12,346
	10,650,000		Comcast Corp		2.350		01/15/27		9,955
	15,000,000		Comcast Corp		4.150		10/15/28		15,814
	18,200,000		Comcast Corp		3.200		07/15/36		16,549

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,000,000		Comcast Corp		3.900	%	03/01/38	$	2,953
	1,500,000	g	CSC Holdings LLC		7.500		04/01/28		1,607
	4,000,000		Discovery Communications LLC		2.950		03/20/23		3,964
GBP	300,000		Discovery Communications LLC		2.500		09/20/24		387
$	7,625,000		Discovery Communications LLC		3.950		03/20/28		7,415
	1,895,000		Grupo Televisa SAB		6.625		01/15/40		2,215
	1,975,000	g	Indonesia Asahan Aluminium Persero PT		5.710		11/15/23		2,129
	2,000,000		Lamar Media Corp		5.375		01/15/24		2,050
	7,700,000	g	NBC Universal Enterprise, Inc		1.974		04/15/19		7,698
	10,350,000		NBC Universal Media LLC		2.875		01/15/23		10,392
	2,925,000	g	Tegna, Inc		5.500		09/15/24		2,954
	5,675,000		Time Warner Cable, Inc		5.875		11/15/40		5,905
	4,075,000		Time Warner Cable, Inc		4.500		09/15/42		3,575
	20,550,000		Time Warner, Inc		2.100		06/01/19		20,522
	3,900,000		Time Warner, Inc		3.600		07/15/25		3,898
	4,045,000		Time Warner, Inc		2.950		07/15/26		3,832
	7,500,000		Time Warner, Inc		3.800		02/15/27		7,462
	2,250,000		Viacom, Inc		4.375		03/15/43		2,019
	1,150,000		Viacom, Inc		5.850		09/01/43		1,251
	675,000	g	Virgin Media Secured Finance plc		5.500		01/15/25		687
	100,000	g	Walt Disney Co		3.375		11/15/26		102
	2,105,000	g	Walt Disney Co		7.625		11/30/28		2,822
	1,578,000	g	Walt Disney Co		6.550		03/15/33		2,093
	7,375,000	g	Walt Disney Co		6.900		08/15/39		10,419
			TOTAL MEDIA & ENTERTAINMENT						229,469
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.4%
EUR	400,000		Abbott Ireland Financing DAC		0.875		09/27/23		459
	400,000		Abbott Ireland Financing DAC		1.500		09/27/26		472
$	4,750,000		Abbott Laboratories		3.875		09/15/25		4,970
	11,022,000		Abbott Laboratories		3.750		11/30/26		11,452
	2,250,000		Abbott Laboratories		5.300		05/27/40		2,633
	3,500,000		AbbVie, Inc		2.850		05/14/23		3,463
	2,200,000		AbbVie, Inc		3.750		11/14/23		2,259
	14,350,000		AbbVie, Inc		3.200		05/14/26		13,963
	14,575,000		AbbVie, Inc		4.250		11/14/28		14,901
	6,700,000		AbbVie, Inc		4.400		11/06/42		6,228
	8,700,000		Actavis Funding SCS		3.800		03/15/25		8,817
	9,500,000		Actavis Funding SCS		4.550		03/15/35		9,316
EUR	550,000		Allergan Funding SCS		1.250		06/01/24		619
	350,000		Allergan Funding SCS		2.625		11/15/28		415
$	5,650,000		AstraZeneca plc		3.125		06/12/27		5,534
	8,625,000		AstraZeneca plc		4.000		01/17/29		9,065
	6,800,000	g	Bayer US Finance II LLC		4.375		12/15/28		6,764
	4,650,000	g	Bayer US Finance II LLC		4.625		06/25/38		4,349
	2,900,000		Celgene Corp		3.875		08/15/25		2,977
	13,600,000		Celgene Corp		3.450		11/15/27		13,468
	8,675,000		Gilead Sciences, Inc		2.950		03/01/27		8,443
	1,775,000		Gilead Sciences, Inc		4.000		09/01/36		1,745
	5,075,000		Gilead Sciences, Inc		4.150		03/01/47		4,907
	8,275,000		GlaxoSmithKline Capital plc		3.000		06/01/24		8,324
	8,750,000		GlaxoSmithKline Capital, Inc		3.875		05/15/28		9,182
	8,150,000		Johnson & Johnson		2.900		01/15/28		8,117

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,750,000		Johnson & Johnson		3.400	%	01/15/38	$	3,686
EUR	350,000		Mylan, Inc		2.125		05/23/25		394
$	5,750,000		Mylan, Inc		4.550		04/15/28		5,595
	9,600,000		Novartis Capital Corp		3.000		11/20/25		9,763
EUR	400,000	g	Takeda Pharmaceutical Co Ltd		0.375		11/21/20		448
	1,200,000	g	Takeda Pharmaceutical Co Ltd		1.125		11/21/22		1,381
	400,000	g	Takeda Pharmaceutical Co Ltd		3.000		11/21/30		493
$	11,400,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		9,321
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						193,923
REAL ESTATE - 1.3%
	1,675,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		1,691
	2,300,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		2,316
	5,950,000		American Tower Corp		3.000		06/15/23		5,932
EUR	600,000		American Tower Corp		1.950		05/22/26		693
$	2,418,000		American Tower Corp		3.375		10/15/26		2,359
	1,600,000		American Tower Corp		3.600		01/15/28		1,578
	5,575,000		Brandywine Operating Partnership LP		4.100		10/01/24		5,675
	2,700,000		Brandywine Operating Partnership LP		3.950		11/15/27		2,688
	5,825,000		Brixmor Operating Partnership LP		3.850		02/01/25		5,801
	5,250,000		Brixmor Operating Partnership LP		4.125		06/15/26		5,257
	4,050,000		Brixmor Operating Partnership LP		3.900		03/15/27		3,981
	3,965,000		Camden Property Trust		4.625		06/15/21		4,090
	3,911,000		Crown Castle International Corp		4.875		04/15/22		4,124
	2,275,000		Crown Castle International Corp		3.700		06/15/26		2,270
	1,700,000		Crown Castle International Corp		3.650		09/01/27		1,673
	2,968,000		DDR Corp		3.625		02/01/25		2,915
	350,000		DDR Corp		4.700		06/01/27		361
	3,075,000		Digital Realty Trust LP		3.700		08/15/27		3,047
	1,600,000		Duke Realty LP		3.250		06/30/26		1,578
	2,525,000		Duke Realty LP		4.000		09/15/28		2,611
	2,750,000		Equity One, Inc		3.750		11/15/22		2,801
	2,754,000		Essex Portfolio LP		3.375		01/15/23		2,770
	1,625,000		Healthcare Realty Trust, Inc		3.750		04/15/23		1,636
	6,600,000		Healthcare Realty Trust, Inc		3.875		05/01/25		6,594
	3,700,000		Healthcare Trust of America Holdings LP		3.375		07/15/21		3,711
	3,550,000		Healthcare Trust of America Holdings LP		3.700		04/15/23		3,589
	6,250,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		6,064
	1,950,000		Highwoods Realty LP		3.875		03/01/27		1,940
	2,900,000		Highwoods Realty LP		4.125		03/15/28		2,936
	2,875,000		Highwoods Realty LP		4.200		04/15/29		2,916
	4,050,000		Kilroy Realty LP		4.750		12/15/28		4,312
	2,700,000		Liberty Property LP		4.375		02/01/29		2,818
	5,224,000		Mid-America Apartments LP		4.300		10/15/23		5,444
	5,525,000		Mid-America Apartments LP		3.750		06/15/24		5,632
	4,300,000		Mid-America Apartments LP		4.000		11/15/25		4,429
	3,575,000		Mid-America Apartments LP		3.600		06/01/27		3,557
	3,600,000		National Retail Properties, Inc		3.800		10/15/22		3,679
	5,425,000		National Retail Properties, Inc		3.300		04/15/23		5,460
	2,575,000		National Retail Properties, Inc		4.000		11/15/25		2,642
	3,000,000		National Retail Properties, Inc		3.600		12/15/26		2,990
EUR	350,000		ProLogis LP		3.000		06/02/26		451
$	7,225,000		Regency Centers LP		3.900		11/01/25		7,366
	4,750,000		Regency Centers LP		3.600		02/01/27		4,728

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
EUR	330,000		Simon International Finance S.C.A		1.250	%	05/13/25	$	383
$	6,150,000		Ventas Realty LP		4.000		03/01/28		6,234
	1,170,000		Weingarten Realty Investors		3.375		10/15/22		1,175
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,822
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,133
	3,950,000		Weingarten Realty Investors		3.850		06/01/25		3,959
	1,300,000		Weingarten Realty Investors		3.250		08/15/26		1,232
			TOTAL REAL ESTATE						170,043
RETAILING - 0.4%
	600,000		Asbury Automotive Group, Inc		6.000		12/15/24		617
	2,950,000		AutoNation, Inc		3.800		11/15/27		2,749
	8,850,000		Home Depot, Inc		2.000		04/01/21		8,755
	8,725,000		Home Depot, Inc		3.350		09/15/25		8,989
	5,175,000		Home Depot, Inc		3.000		04/01/26		5,202
	6,875,000		O’Reilly Automotive, Inc		3.600		09/01/27		6,853
	1,500,000	g	PetSmart, Inc		5.875		06/01/25		1,256
	5,050,000	g	Rolls-Royce plc		2.375		10/14/20		5,005
	1,850,000	g	Rolls-Royce plc		3.625		10/14/25		1,844
	1,500,000	g	Staples, Inc		8.500		09/15/25		1,635
	9,000,000		Target Corp		3.375		04/15/29		9,124
	5,625,000		Target Corp		3.625		04/15/46		5,322
			TOTAL RETAILING						57,351
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.2%
	15,640,000		Intel Corp		2.875		05/11/24		15,766
	4,800,000		Intel Corp		2.600		05/19/26		4,697
	2,500,000		Intel Corp		3.734		12/08/47		2,526
	3,475,000		Texas Instruments, Inc		2.625		05/15/24		3,455
	3,100,000		Texas Instruments, Inc		4.150		05/15/48		3,346
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						29,790
SOFTWARE & SERVICES - 0.9%
	4,175,000		Activision Blizzard, Inc		2.300		09/15/21		4,117
	4,350,000		Activision Blizzard, Inc		3.400		09/15/26		4,265
	3,000,000		Baidu, Inc		2.875		07/06/22		2,961
	1,725,000		Baidu, Inc		4.375		05/14/24		1,788
	11,348,000		Fidelity National Information Services, Inc		3.625		10/15/20		11,469
GBP	150,000		Fidelity National Information Services, Inc		1.700		06/30/22		194
EUR	375,000		Fidelity National Information Services, Inc		1.100		07/15/24		424
$	1,950,000		IHS Markit Ltd		4.125		08/01/23		1,989
	3,350,000		IHS Markit Ltd		4.750		08/01/28		3,505
	26,300,000		Microsoft Corp		2.400		08/08/26		25,520
	3,750,000		Microsoft Corp		4.100		02/06/37		4,085
	5,850,000		Microsoft Corp		3.700		08/08/46		5,989
	1,475,000		NCR Corp		4.625		02/15/21		1,472
	12,600,000		Oracle Corp		2.500		05/15/22		12,537
	14,375,000		Oracle Corp		2.650		07/15/26		13,910
	4,900,000		Oracle Corp		3.800		11/15/37		4,906
	6,300,000		Oracle Corp		4.000		11/15/47		6,342
	2,050,000	g	Refinitiv US Holdings, Inc		6.250		05/15/26		2,078
	2,425,000		salesforce.com, Inc		3.700		04/11/28		2,543

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,425,000		Total System Services, Inc		4.450	%	06/01/28	$	5,538
			TOTAL SOFTWARE & SERVICES						115,632
TECHNOLOGY HARDWARE & EQUIPMENT - 0.9%
	3,475,000		Amphenol Corp		3.125		09/15/21		3,505
	1,525,000		Amphenol Corp		4.350		06/01/29		1,614
EUR	675,000		Amphenol Technologies Holding GmbH		2.000		10/08/28		802
$	8,075,000		Apple, Inc		2.450		08/04/26		7,801
	31,025,000		Apple, Inc		3.200		05/11/27		31,309
EUR	750,000		Apple, Inc		1.375		05/24/29		892
$	4,525,000		Apple, Inc		4.650		02/23/46		5,122
	4,075,000		Broadcom Corp		3.875		01/15/27		3,896
	19,750,000		Cisco Systems, Inc		1.850		09/20/21		19,422
	2,600,000	g	CommScope, Inc		5.500		06/15/24		2,546
	2,075,000		Corning, Inc		4.375		11/15/57		1,934
	13,175,000	g	Dell International LLC		4.420		06/15/21		13,519
	11,800,000	g	Dell International LLC		5.300		10/01/29		11,876
	3,150,000		L-3 Technologies, Inc		3.850		06/15/23		3,248
	1,365,000	g	Millicom International Cellular S.A.		6.625		10/15/26		1,433
	2,125,000	g	Millicom International Cellular S.A.		6.250		03/25/29		2,162
	5,250,000	g	NXP BV		4.875		03/01/24		5,540
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		6,741
EUR	400,000		Tyco Electronics Group S.A.		1.100		03/01/23		459
$	2,175,000		Tyco Electronics Group S.A.		3.700		02/15/26		2,200
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						126,021
TELECOMMUNICATION SERVICES - 1.5%
EUR	500,000	g	Altice Luxembourg S.A.		7.250		05/15/22		567
	300,000		AT&T, Inc		1.300		09/05/23		347
$	36,375,000		AT&T, Inc		3.400		05/15/25		36,017
	19,725,000		AT&T, Inc		4.350		03/01/29		20,158
EUR	500,000		AT&T, Inc		2.350		09/05/29		591
$	21,900,000		AT&T, Inc		4.300		02/15/30		22,182
	9,000,000		AT&T, Inc		4.500		05/15/35		8,879
	4,525,000		AT&T, Inc		4.500		03/09/48		4,261
	4,400,000	g	Bharti Airtel International Netherlands BV		5.125		03/11/23		4,541
	1,325,000	g	C&W Senior Financing Designated Activity Co		7.500		10/15/26		1,365
	3,000,000	g	C&W Senior Financing Designated Activity Co		6.875		09/15/27		3,008
	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		5,513
	3,400,000	g	ENTEL Chile S.A.		4.875		10/30/24		3,478
	4,000,000	g	MTN Mauritius Investment Ltd		6.500		10/13/26		4,065
	698,000	o	Oi S.A.		10.000		07/27/25		736
	3,950,000		Orange S.A.		5.375		01/13/42		4,481
	2,125,000		Telefonica Emisiones SAU		4.103		03/08/27		2,153
	2,400,000	g	Turk Telekomunikasyon AS.		6.875		02/28/25		2,301
	375,000	g	Turkcell Iletisim Hizmetleri AS.		5.800		04/11/28		325
	577,000		Verizon Communications, Inc		3.376		02/15/25		585
EUR	400,000		Verizon Communications, Inc		1.375		10/27/26		466
$	9,392,000		Verizon Communications, Inc		4.329		09/21/28		9,958
	6,425,000		Verizon Communications, Inc		3.875		02/08/29		6,605
EUR	400,000		Verizon Communications, Inc		1.875		10/26/29		476
$	3,812,000	g	Verizon Communications, Inc		4.016		12/03/29		3,939
	30,220,000		Verizon Communications, Inc		4.272		01/15/36		30,610
EUR	300,000		Verizon Communications, Inc		2.875		01/15/38		371

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	10,550,000		Verizon Communications, Inc		3.850	%	11/01/42	$	9,973
	3,350,000		Verizon Communications, Inc		4.522		09/15/48		3,443
EUR	500,000	g	Virgin Media Finance plc		4.500		01/15/25		580
$	8,700,000		Vodafone Group plc		4.375		05/30/28		8,851
			TOTAL TELECOMMUNICATION SERVICES						200,825
TRANSPORTATION - 0.8%
	4,850,000	g	Adani Ports & Special Economic Zone Ltd		4.000		07/30/27		4,652
	2,040,000		CSX Corp		2.600		11/01/26		1,937
	7,125,000		CSX Corp		3.250		06/01/27		7,039
	3,500,000		CSX Corp		3.800		03/01/28		3,594
	20,150,000		CSX Corp		4.250		03/15/29		21,415
	4,000,000		CSX Corp		3.800		11/01/46		3,783
	1,500,000		CSX Corp		4.300		03/01/48		1,532
	9,250,000		Delta Air Lines, Inc		3.625		03/15/22		9,314
	6,100,000		Delta Air Lines, Inc		3.800		04/19/23		6,167
	3,650,000	g	DP World Ltd		5.625		09/25/48		3,794
EUR	400,000		FedEx Corp		1.000		01/11/23		459
	325,000		FedEx Corp		1.625		01/11/27		378
$	2,830,000		FedEx Corp		4.100		02/01/45		2,566
	7,425,000		FedEx Corp		4.050		02/15/48		6,636
	10,000,000		Kansas City Southern		2.350		05/15/20		9,931
	8,925,000		Northrop Grumman Corp		3.250		01/15/28		8,780
	3,400,000		Northrop Grumman Corp		4.030		10/15/47		3,366
	4,475,000	g	Pelabuhan Indonesia III Persero PT		4.500		05/02/23		4,580
	6,150,000		Union Pacific Corp		3.950		09/10/28		6,456
	6,125,000		Union Pacific Corp		4.500		09/10/48		6,521
			TOTAL TRANSPORTATION						112,900
UTILITIES - 2.3%
	1,650,000		AEP Transmission Co LLC		3.100		12/01/26		1,633
	1,650,000		AEP Transmission Co LLC		4.000		12/01/46		1,664
	1,775,000		AES Corp		4.875		05/15/23		1,799
	8,475,000		AGL Capital Corp		3.875		11/15/25		8,576
	2,125,000		AGL Capital Corp		4.400		06/01/43		2,130
	3,475,000		Alabama Power Co		4.150		08/15/44		3,594
	2,750,000		American Water Capital Corp		3.000		12/01/26		2,667
	2,375,000		American Water Capital Corp		4.000		12/01/46		2,374
	7,175,000		American Water Capital Corp		3.750		09/01/47		6,961
	1,175,000		Atmos Energy Corp		4.125		10/15/44		1,228
	6,500,000		Baltimore Gas & Electric Co		3.750		08/15/47		6,291
	5,925,000		Berkshire Hathaway Energy Co		3.250		04/15/28		5,892
	6,225,000		Black Hills Corp		4.250		11/30/23		6,455
	1,575,000		Black Hills Corp		3.150		01/15/27		1,503
	3,670,000		CenterPoint Energy Resources Corp		4.500		01/15/21		3,763
	3,550,000		CenterPoint Energy Resources Corp		6.250		02/01/37		4,179
	2,850,000	g	Cerro del Aguila S.A.		4.125		08/16/27		2,814
	4,675,000		CMS Energy Corp		3.600		11/15/25		4,696
	4,200,000		Commonwealth Edison Co		5.900		03/15/36		5,183
	3,775,000		Dominion Resources, Inc		2.000		08/15/21		3,686
	5,750,000		DTE Electric Co		3.750		08/15/47		5,731
	1,400,000		Duke Energy Carolinas LLC		4.300		06/15/20		1,428
	5,825,000		Duke Energy Corp		1.800		09/01/21		5,685

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	8,675,000		Duke Energy Corp		2.650	%	09/01/26	$	8,267
	3,649,931		Duke Energy Florida Project Finance LLC		1.196		03/01/20		3,613
	2,000,000		Duke Energy Florida Project Finance LLC		1.731		09/01/22		1,949
	1,450,000		Duke Energy Ohio, Inc		3.800		09/01/23		1,511
	4,200,000		Enel Chile S.A.		4.875		06/12/28		4,429
	1,000,000		Enersis Americas S.A.		4.000		10/25/26		985
	5,700,000		Entergy Corp		2.950		09/01/26		5,481
	3,000,000	g	Eskom Holdings SOC Ltd		5.750		01/26/21		2,957
	2,675,000	g	Eskom Holdings SOC Ltd		6.350		08/10/28		2,752
	2,675,000	g	Eskom Holdings SOC Ltd		8.450		08/10/28		2,807
	9,450,000		Exelon Generation Co LLC		3.400		03/15/22		9,583
	5,775,000		Florida Power & Light Co		3.990		03/01/49		6,059
	8,050,000		Fortis, Inc		3.055		10/04/26		7,706
	3,600,000		Indiana Michigan Power Co		3.750		07/01/47		3,438
	2,725,000		Integrys Energy Group, Inc		4.170		11/01/20		2,759
	1,300,000	g	Israel Electric Corp Ltd		5.000		11/12/24		1,371
	6,125,000	g	Israel Electric Corp Ltd		4.250		08/14/28		6,158
	1,000,000	g	Kansas Gas & Electric		6.700		06/15/19		1,007
	4,525,000	g	KazTransGas JSC		4.375		09/26/27		4,389
	3,675,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		3,787
	5,000,000		LG&E and KU Energy LLC		3.750		11/15/20		5,056
	6,150,000		MidAmerican Energy Co		3.650		08/01/48		5,988
	3,000,000	g	Minejesa Capital BV		4.625		08/10/30		2,909
	800,000	g	Minejesa Capital BV		5.625		08/10/37		794
	3,335,000		Nevada Power Co		5.450		05/15/41		3,882
	7,100,000		NiSource Finance Corp		3.490		05/15/27		7,088
	2,000,000		NRG Energy, Inc		6.250		05/01/24		2,063
EUR	230,000		NTPC Ltd		2.750		02/01/27		267
$	6,150,000		Ohio Power Co		4.150		04/01/48		6,419
	7,100,000		Oncor Electric Delivery Co LLC		2.150		06/01/19		7,094
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,539
	4,500,000	g	Perusahaan Gas Negara Persero Tbk PT		5.125		05/16/24		4,720
	4,000,000	g	Perusahaan Listrik Negara PT		4.125		05/15/27		3,941
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,142
	6,925,000		PPL Capital Funding, Inc		4.200		06/15/22		7,107
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,012
	9,725,000		PSEG Power LLC		3.850		06/01/23		9,968
	8,800,000		Public Service Co of Oklahoma		5.150		12/01/19		8,945
	2,650,000	g	Rio Oil Finance Trust		8.200		04/06/28		2,868
	2,000,000		Southern Co Gas Capital Corp		3.950		10/01/46		1,879
	8,250,000		Southern Power Co		2.500		12/15/21		8,162
	7,825,000		Southern Power Co		4.150		12/01/25		8,105
	7,375,000		Southwest Gas Corp		3.700		04/01/28		7,521
	1,925,000	g	Suzano Austria GmbH		6.000		01/15/29		2,051
	3,680,000		Virginia Electric & Power Co		2.950		01/15/22		3,694
	3,250,000		Virginia Electric & Power Co		2.950		11/15/26		3,184
	3,250,000		Virginia Electric & Power Co		3.500		03/15/27		3,312
	3,925,000	g	Vistra Operations Co LLC		5.625		02/15/27		4,077
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,074
	2,975,000		Xcel Energy, Inc		3.350		12/01/26		2,981
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		3,080
			TOTAL UTILITIES						306,862
			TOTAL CORPORATE BONDS						4,325,768
			(Cost $4,276,754)

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
GOVERNMENT BONDS -  45.8%
AGENCY SECURITIES - 2.3%
$	6,050,711		AMAL Ltd		3.465	%	08/21/21	$	6,097
	2,500,000		Amber Circle Funding Ltd		3.250		12/04/22		2,500
	3,879,000		Canal Barge Co, Inc		4.500		11/12/34		4,189
	40,100,048		CES MU2 LLC		1.994		05/13/27		39,200
	6,380,000		DY8 Leasing LLC		2.627		04/29/26		6,383
	3,823,242		Export Lease Ten Co LLC		1.650		05/07/25		3,711
	11,443,626		Helios Leasing II LLC		2.668		03/18/25		11,461
	12,129,409		HNA LLC		2.291		06/30/27		12,009
	12,400,000		Lutheran Medical Center		1.982		02/20/30		11,723
	7,890,000		Montefiore Medical Center		2.152		10/20/26		7,731
	3,222,770		MSN 41079 and 41084 Ltd		1.631		12/14/24		3,131
	12,535,714		Overseas Private Investment Corp (OPIC)		3.520		09/20/32		13,096
	4,591,650		Premier Aircraft Leasing		3.576		02/06/22		4,643
	7,240,000		Private Export Funding Corp (PEFCO)		1.450		08/15/19		7,211
	27,750,000		PEFCO		2.250		03/15/20		27,671
	24,000,000	g	PEFCO		3.266		11/08/21		24,453
	35,000,000		PEFCO		4.300		12/15/21		36,593
	25,747,000		PEFCO		2.050		11/15/22		25,399
	29,197,638		Tagua Leasing LLC		1.900		07/12/24		28,576
	1,569,537		Union 12 Leasing LLC		2.164		02/17/24		1,549
	12,110,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		12,412
	7,105,145		Windermere Aviation LLC		2.351		05/27/26		7,049
	16,245,531		Zarapito Leasing LLC		2.628		11/12/26		16,277
			TOTAL AGENCY SECURITIES						313,064
FOREIGN GOVERNMENT BONDS - 5.8%
	4,000,000	g	Abu Dhabi Government International Bond		3.125		05/03/26		4,007
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,426
	1,175,000		Argentina Republic Government International Bond		5.625		01/26/22		1,013
	2,000,000		Argentina Republic Government International Bond		5.875		01/11/28		1,534
AUD	1,700,000		Australia Government International Bond		5.750		05/15/21		1,315
	1,700,000		Australia Government International Bond		2.250		05/21/28		1,256
$	1,125,000	g	Banque Centrale de Tunisie S.A.		5.750		01/30/25		979
	3,450,000	g	Bermuda Government International Bond		3.717		01/25/27		3,403
	2,500,000	g	Bermuda Government International Bond		4.750		02/15/29		2,637
	5,400,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		5,540
BRL	3,500,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/23		945
$	5,700,000		Brazilian Government International Bond		5.625		02/21/47		5,657
EUR	1,000,000		Bundesrepublik Deutschland		1.250		08/15/48		1,326
$	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		4,976
	1,850,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		07/28/20		1,837
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		02/12/22		3,942
EUR	400,000		Caisse d’Amortissement de la Dette Sociale		1.375		11/25/24		486
CAD	1,300,000	g	Canada Housing Trust No 1		2.550		12/15/23		1,004
	1,960,000		Canadian Government International Bond		1.750		08/01/20		1,470
	1,000,000		Canadian Government International Bond		5.000		06/01/37		1,114
$	19,500,000	g	CDP Financial, Inc		2.750		03/07/22		19,624
	8,800,000		Chile Government International Bond		3.240		02/06/28		8,950
	6,125,000		Colombia Government International Bond		2.625		03/15/23		5,987

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,000,000		Colombia Government International Bond		5.000	%	06/15/45	$	4,197
	3,500,000	g	Costa Rica Government International Bond		7.158		03/12/45		3,377
	20,200,000	g	CPPIB Capital, Inc		2.250		01/25/22		20,098
	16,400,000	g	CPPIB Capital, Inc		2.750		11/02/27		16,393
DOP	48,650,000	g	Dominican Republic Government International Bond		8.900		02/15/23		939
$	2,000,000	g	Dominican Republic Government International Bond		6.500		02/15/48		2,060
	2,275,000	g	Egypt Government International Bond		5.577		02/21/23		2,259
	2,175,000	g	Egypt Government International Bond		7.600		03/01/29		2,235
	3,950,000	g	Egypt Government International Bond		8.500		01/31/47		4,032
	10,000,000		European Investment Bank		2.500		04/15/21		10,025
	3,500,000		European Investment Bank		4.875		02/15/36		4,433
	3,575,000	g	Export Credit Bank of Turkey		4.250		09/18/22		3,150
	300,000	g	Export Credit Bank of Turkey		5.375		10/24/23		266
	15,000,000		Export Development Canada		2.000		11/30/20		14,906
	2,000,000	g	Export-Import Bank of China		2.850		09/16/20		1,992
	4,000,000	g	Export-Import Bank of India		3.875		02/01/28		3,941
EUR	1,100,000	g	Finland Government International Bond		0.500		09/15/29		1,262
	3,000,000		French Republic Government Bond OAT		0.500		05/25/25		3,503
	2,650,000		French Republic Government Bond OAT		0.750		11/25/28		3,113
	1,250,000		French Republic Government Bond OAT		1.250		05/25/34		1,510
	1,200,000	g	French Republic Government Bond OAT		2.000		05/25/48		1,577
$	3,825,000	g	Ghana Government International Bond		8.125		03/26/32		3,810
	1,000,000	g	Ghana Government International Bond		8.627		06/16/49		977
	3,600,000	g	Guatemala Government International Bond		4.500		05/03/26		3,515
	2,000,000	g	Guatemala Government International Bond		4.375		06/05/27		1,922
EUR	2,150,000	g	Hellenic Republic Government International Bond		4.375		08/01/22		2,599
	875,000	g	Hellenic Republic Government International Bond		3.450		04/02/24		1,020
	3,600,000	g	Hellenic Republic Government International Bond		3.375		02/15/25		4,121
	650,000	g	Hellenic Republic Government International Bond		3.875		03/12/29		738
$	2,595,000	g	Honduras Government International Bond		7.500		03/15/24		2,845
CAD	1,800,000		Hydro-Quebec		5.000		02/15/45		1,905
IDR	18,000,000,000		Indonesia Treasury Bond		8.250		07/15/21		1,303
	12,500,000,000		Indonesia Treasury Bond		7.500		05/15/38		824
AUD	500,000		Inter-American Development Bank		4.750		08/27/24		405
	900,000		Inter-American Development Bank		2.750		10/30/25		662
	1,300,000		International Bank for Reconstruction & Development		2.800		01/13/21		939
NZD	1,891,000		International Bank for Reconstruction & Development		3.375		01/25/22		1,338
ILS	3,600,000	i	Israel Government International Bond		0.340		05/31/26		985
$	6,200,000		Israel Government International Bond		3.250		01/17/28		6,269
ILS	3,100,000		Israel Government International Bond		5.500		01/31/42		1,246
$	4,375,000		Israel Government International Bond		4.125		01/17/48		4,523
EUR	1,375,000		Italy Buoni Poliennali Del Tesoro		0.350		06/15/20		1,547
	1,250,000		Italy Buoni Poliennali Del Tesoro		0.050		04/15/21		1,389
	3,500,000		Italy Buoni Poliennali Del Tesoro		2.450		10/01/23		4,090
	3,345,000		Italy Buoni Poliennali Del Tesoro		1.250		12/01/26		3,544
	1,225,000	g	Italy Buoni Poliennali Del Tesoro		2.950		09/01/38		1,321
	1,050,000	g	Italy Buoni Poliennali Del Tesoro		3.850		09/01/49		1,239
	1,000,000	g	Ivory Coast Government International Bond		6.625		03/22/48		1,068
$	2,353,000	g	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		2,228
	6,000,000		Japan Bank for International Cooperation		2.375		04/20/26		5,877
	2,000,000	g	Japan Finance Organization for Municipalities		2.000		09/08/20		1,982

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	2,700,000	g	Japan Finance Organization for Municipalities			2.125	%	02/12/21	$	2,676
	4,000,000	g	Japan Finance Organization for Municipalities			2.125		04/13/21		3,956
	6,650,000	g	Japan Finance Organization for Municipalities			3.375		09/27/23		6,828
	2,500,000	g	Japan Finance Organization for Municipalities			3.000		03/12/24		2,532
JPY	113,000,000		Japan Finance Organization for Municipalities			0.450		03/14/25		1,050
	103,000,000		Japan Finance Organization for Municipalities			0.484		06/13/25		960
	140,000,000		Japan Finance Organization for Municipalities			0.020		03/13/26		1,270
	76,000,000		Japan Government Five Year Bond			0.100		06/20/23		695
	440,000,000		Japan Government Ten Year Bond			0.100		09/20/26		4,061
	369,000,000		Japan Government Ten Year Bond			0.100		12/20/26		3,407
	350,000,000		Japan Government Thirty Year Bond			2.400		11/20/31		4,098
	350,000,000		Japan Government Thirty Year Bond			2.300		05/20/32		4,084
	300,000,000		Japan Government Thirty Year Bond			2.500		09/20/34		3,670
	450,000,000		Japan Government Thirty Year Bond			0.500		09/20/46		4,085
	114,000,000		Japan Government Thirty Year Bond			0.700		06/20/48		1,083
	530,000,000		Japan Government Twenty Year Bond			1.900		03/22/21		4,980
	93,000,000		Japan Government Twenty Year Bond			0.600		12/20/36		889
	219,000,000		Japan Government Twenty Year Bond			0.500		12/20/38		2,037
EUR	600,000	g	Kazakhstan Government International Bond			2.375		11/09/28		697
$	1,525,000	g	Kenya Government International Bond			7.250		02/28/28		1,541
EUR	875,000	g	Kingdom of Belgium Government International Bond			0.900		06/22/29		1,029
	1,080,000		Kingdom of Belgium Government International Bond			1.250		04/22/33		1,292
	1,025,000	g	Kingdom of Belgium Government International Bond			1.600		06/22/47		1,206
$	7,700,000	g	Kommunalbanken AS.			1.625		01/15/20		7,642
	1,925,000	g	Kommunalbanken AS.			1.375		10/26/20		1,893
	3,750,000	g	Kommunalbanken AS.			1.625		02/10/21		3,696
	5,000,000	g	Kommunalbanken AS.			2.250		01/25/22		4,981
	2,600,000	g	Kommunalbanken AS.			2.750		02/05/24		2,640
EUR	500,000		Kommunalbanken AS.			0.625		04/20/26		576
$	5,000,000	g	Kommuninvest I Sverige AB			2.000		11/12/19		4,982
	2,833,000	g	Kommuninvest I Sverige AB			2.625		09/15/22		2,855
	4,000,000	i	Korea Development Bank	LIBOR 3 M + 0.550%		3.147		03/12/21		4,002
	2,675,000	g	Korea Housing Finance Corp			2.000		10/11/21		2,614
	5,775,000	g	Korea Housing Finance Corp			3.000		10/31/22		5,732
KRW	3,920,000,000		Korea Treasury Bond			2.000		03/10/21		3,470
	4,630,000,000		Korea Treasury Bond			1.375		09/10/21		4,043
	1,800,000,000		Korea Treasury Bond			1.500		12/10/26		1,546
	1,600,000,000		Korea Treasury Bond			2.375		12/10/28		1,473
$	45,000,000		Kreditanstalt fuer Wiederaufbau			2.750		10/01/20		45,232
	18,750,000		Kreditanstalt fuer Wiederaufbau			2.625		01/25/22		18,906
	5,750,000	g	Kuwait Government International Bond			2.750		03/20/22		5,746
	1,750,000		Lebanon Government International Bond			6.750		11/29/27		1,388
	5,250,000	g	Lithuania Government International Bond			6.625		02/01/22		5,753
MYR	3,475,000		Malaysia Government International Bond			3.885		08/15/29		858
MXN	14,500,000		Mexican Bonos			8.000		12/07/23		752
	23,500,000		Mexican Bonos			5.750		03/05/26		1,069

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,797,000		Mexico Government International Bond		4.000	%	10/02/23	$	4,931
	5,000,000		Mexico Government International Bond		4.150		03/28/27		5,084
	6,051,000		Mexico Government International Bond		6.050		01/11/40		6,898
	5,750,000	g	Morocco Government International Bond		5.500		12/11/42		6,150
	2,900,000	g	Municipality Finance plc		1.125		09/16/19		2,880
	3,075,000	g	Namibia Government International Bond		5.250		10/29/25		2,943
	4,500,000	g	Nederlandse Waterschapsbank NV		2.125		11/15/21		4,472
	5,000,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		4,925
	4,000,000	g	Nederlandse Waterschapsbank NV		3.125		12/05/22		4,102
EUR	1,075,000	g	Netherlands Government International Bond		0.750		07/15/28		1,287
AUD	500,000		New South Wales Treasury Corp		4.000		05/20/26		402
NZD	1,175,000		New Zealand Government International Bond		2.750		04/15/37		869
$	3,050,000	g	Nigeria Government International Bond		6.500		11/28/27		3,015
	1,550,000	g	Nigeria Government International Bond		7.143		02/23/30		1,551
NOK	26,000,000	g	Norway Government International Bond		2.000		04/26/28		3,129
$	4,000,000		Panama Government International Bond		6.700		01/26/36		5,220
	3,000,000		Panama Government International Bond		4.500		05/15/47		3,164
	1,650,000	g	Paraguay Government International Bond		4.700		03/27/27		1,718
	925,000	g	Paraguay Government International Bond		5.400		03/30/50		969
	6,775,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		6,861
	9,350,000	g	Perusahaan Penerbit SBSN Indonesia III		4.400		03/01/28		9,607
PEN	4,860,000	g	Peruvian Government International Bond		8.200		08/12/26		1,759
$	3,000,000		Peruvian Government International Bond		8.750		11/21/33		4,703
	625,000	g	Petroamazonas EP		4.625		11/06/20		612
PHP	45,000,000		Philippine Government International Bond		4.950		01/15/21		854
$	1,000,000		Philippine Government International Bond		3.750		01/14/29		1,045
	1,700,000		Philippine Government International Bond		3.700		03/01/41		1,725
	3,000,000		Philippine Government International Bond		3.700		02/02/42		3,043
PLN	6,600,000		Poland Government International Bond		4.000		10/25/23		1,859
EUR	900,000	g	Portugal Obrigacoes do Tesouro OT		1.950		06/15/29		1,077
$	15,000,000		Province of British Columbia Canada		2.000		10/23/22		14,771
CAD	2,350,000		Province of British Columbia Canada		2.550		06/18/27		1,796
$	20,750,000		Province of Manitoba Canada		1.750		05/30/19		20,723
	10,000,000		Province of Manitoba Canada		3.050		05/14/24		10,216
	25,000,000		Province of Manitoba Canada		2.125		06/22/26		23,932
	25,000,000		Province of Ontario Canada		3.050		01/29/24		25,557
	22,500,000		Province of Quebec Canada		3.500		07/29/20		22,797
CAD	1,650,000		Province of Quebec Canada		2.750		09/01/27		1,279
$	6,000,000		Province of Quebec Canada		7.500		09/15/29		8,462
	2,000,000	g	Provincia de Mendoza Argentina		8.375		05/19/24		1,605
	4,200,000	g	Qatar Government International Bond		4.817		03/14/49		4,427
EUR	850,000	g	Republic of Austria Government International Bond		0.750		02/20/28		1,006
PLN	1,400,000		Republic of Poland Government International Bond		2.500		07/25/26		364
PLN	2,750,000		Republic of Poland Government International Bond		2.750		04/25/28		716
$	2,475,000		Republic of South Africa Government International Bond		4.850		09/27/27		2,415
	3,225,000	g	Republic of Uzbekistan Government International Bond		4.750		02/20/24		3,208
	1,500,000	g	Saudi Government International Bond		2.375		10/26/21		1,474
	14,775,000	g	Saudi Government International Bond		4.500		04/17/30		15,533
EUR	1,000,000	g	Senegal Government International Bond		4.750		03/13/28		1,108
$	2,000,000	g	Senegal Government International Bond		6.250		05/23/33		1,922
	2,000,000	g	Senegal Government International Bond		6.750		03/13/48		1,848
RSD	96,000,000		Serbia Treasury Bonds		5.875		02/08/28		979
SGD	2,200,000		Singapore Government International Bond		1.750		04/01/22		1,615
	1,300,000		Singapore Government International Bond		2.625		05/01/28		1,002
$	4,000,000		South Africa Government International Bond		5.875		09/16/25		4,220

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
ZAR	12,200,000		South Africa Government International Bond			10.500	%	12/21/26	$	933
	15,100,000		South Africa Government International Bond			8.750		01/31/44		946
EUR	2,220,000		Spain Government International Bond			0.400		04/30/22		2,535
	2,550,000	g	Spain Government International Bond			2.750		10/31/24		3,246
	845,000	g	Spain Government International Bond			1.400		07/30/28		983
	1,100,000	g	Spain Government International Bond			1.850		07/30/35		1,257
	1,600,000	g	Spain Government International Bond			2.700		10/31/48		1,972
$	3,000,000	g	Sri Lanka Government International Bond			5.750		01/18/22		2,991
	750,000	g	Sri Lanka Government International Bond			6.850		03/14/24		764
	1,500,000	g	Sri Lanka Government International Bond			6.850		11/03/25		1,509
	4,000,000		Svensk Exportkredit AB			1.750		03/10/21		3,949
SEK	17,700,000	g	Sweden Government International Bond			0.750		11/12/29		1,990
	4,400,000		Sweden Government International Bond			2.250		06/01/32		579
THB	33,000,000		Thailand Government International Bond			2.000		12/17/22		1,041
	23,000,000		Thailand Government International Bond			2.400		12/17/23		734
	48,800,000		Thailand Government International Bond			3.300		06/17/38		1,610
AUD	2,675,000		Treasury Corp of Victoria			3.000		10/20/28		2,025
$	3,500,000		Turkey Government International Bond			3.250		03/23/23		3,096
	3,650,000		Turkey Government International Bond			5.125		02/17/28		3,128
	2,950,000		Turkey Government International Bond			6.875		03/17/36		2,686
	750,000	g	Ukraine Government International Bond			9.750		11/01/28		773
	6,300,000	g	Ukraine Government International Bond			7.375		09/25/32		5,616
GBP	2,375,000		United Kingdom Gilt			1.750		07/22/19		3,103
	2,365,000		United Kingdom Gilt			2.750		09/07/24		3,410
	2,450,000		United Kingdom Gilt			4.750		12/07/30		4,468
	1,000,000		United Kingdom Gilt			4.250		03/07/36		1,861
	900,000		United Kingdom Gilt			1.500		07/22/47		1,159
	975,000		United Kingdom Gilt			1.750		07/22/57		1,381
UYU	20,760,000	g	Uruguay Government International Bond			9.875		06/20/22		615
$	2,352,945		Uruguay Government International Bond			4.375		10/27/27		2,479
UYU	21,800,000	g	Uruguay Government International Bond			8.500		03/15/28		566
			TOTAL FOREIGN GOVERNMENT BONDS							777,136
MORTGAGE BACKED - 17.9%
	7,732,106		Federal Home Loan Mortgage Corp (FHLMC)			3.000		10/15/33		7,725
	30,562,505		FHLMC			3.500		08/15/43		31,420
	8,596,126		FHLMC			3.000		03/15/44		8,614
	24,007,005		FHLMC			3.500		09/15/44		24,525
	38,331,114	i	FHLMC	LIBOR 1 M + 0.300%		2.784		06/15/48		37,937
	23,956,947	i	FHLMC	LIBOR 1 M + 9.920%		5.946		06/15/48		27,189
	20,292,288	i	FHLMC	LIBOR 1 M + 9.840%		5.866		10/15/48		22,706
	12,826		Federal Home Loan Mortgage Corp Gold (FGLMC)			7.000		10/01/20		13
	6,228		FGLMC			7.000		05/01/23		7
	10,338,368		FGLMC			3.500		03/01/27		10,588
	22,575		FGLMC			8.000		01/01/31		24
	5,219		FGLMC			7.000		01/01/32		5
	561,115		FGLMC			4.500		07/01/33		594
	3,792,601		FGLMC			7.000		12/01/33		4,353
	1,242,983		FGLMC			4.500		10/01/34		1,316
	733,214		FGLMC			4.500		04/01/35		776
	1,150,462		FGLMC			7.000		05/01/35		1,313
	2,883,080		FGLMC			5.000		06/01/36		3,107
	1,214,949		FGLMC			5.000		07/01/39		1,312

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	152,303		FGLMC		4.500	%	12/01/43	$	161
	95,695		FGLMC		4.500		02/01/44		101
	3,776,340		FGLMC		4.500		10/01/44		3,988
	1,523,962		FGLMC		4.500		11/01/44		1,609
	2,216,287		FGLMC		4.500		11/01/44		2,341
	857,902		FGLMC		4.500		12/01/44		900
	1,408,023		FGLMC		4.500		12/01/44		1,487
	7,271,060		FGLMC		3.500		04/01/45		7,446
	844,518		FGLMC		4.500		05/01/45		852
	59,049,685		FGLMC		3.500		10/01/45		60,428
	35,292,445		FGLMC		4.000		12/01/45		36,899
	89,109,282		FGLMC		3.500		08/01/46		91,189
	57,662,453	h	FGLMC		3.000		01/01/47		57,434
	97,348,451		FGLMC		3.000		02/01/47		96,963
	2,876,194		FGLMC		4.500		06/01/47		3,059
	5,957,272		FGLMC		4.000		09/01/47		6,171
	30,757,550		FGLMC		3.500		03/01/48		31,421
	39,078,657		FGLMC		4.000		03/01/48		40,916
	19,991,124		FGLMC		4.000		07/01/48		20,943
	30,310,309		FGLMC		4.500		08/01/48		32,333
	14,535,828		FGLMC		4.500		10/01/48		15,503
	17,593,697		FGLMC		3.500		11/01/48		17,973
	48,632		Federal National Mortgage Association (FNMA)		8.000		07/01/24		54
	11,264		FNMA		9.000		11/01/25		12
	19,041,496		FNMA		3.500		02/01/32		19,487
	6,336,835		FNMA		3.500		05/01/32		6,502
	16,078,857		FNMA		3.500		07/01/32		16,455
	2,461,241		FNMA		3.000		11/01/32		2,484
	1,595,756		FNMA		3.500		04/01/33		1,633
	591,158		FNMA		4.500		10/01/33		625
	1,053,253		FNMA		4.500		05/01/35		1,114
	6,735,210		FNMA		5.000		05/01/35		7,246
	2,998,635		FNMA		5.000		10/01/35		3,227
	2,533,663		FNMA		5.000		02/01/36		2,740
	4,921,799		FNMA		5.500		11/01/38		5,410
	92,515		FNMA		4.500		04/01/39		97
	147,427		FNMA		4.500		02/01/40		156
	972,368		FNMA		5.000		08/01/40		1,043
	5,837,690		FNMA		5.000		09/01/40		6,297
	567,983		FNMA		4.500		11/01/40		605
	1,026,704		FNMA		4.500		01/01/41		1,095
	664,416		FNMA		4.500		02/01/41		709
	8,672,841		FNMA		5.000		05/01/41		9,356
	980,103		FNMA		4.500		06/01/41		1,045
	987,045		FNMA		4.500		06/01/41		1,053
	436,610		FNMA		5.000		06/01/41		471
	2,706,951		FNMA		5.000		07/01/41		2,919
	789,914		FNMA		5.000		08/01/41		852
	1,042,486		FNMA		4.500		12/01/41		1,112
	1,057,652		FNMA		4.500		01/01/42		1,128
	885,395		FNMA		4.500		03/01/42		942
	927,140		FNMA		4.500		04/01/42		989
	5,752,256		FNMA		4.500		04/01/42		6,082
	1,015,030		FNMA		4.500		06/01/42		1,082

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,613,043		FNMA		4.500	%	06/01/42	$	4,871
	853,792		FNMA		4.500		07/01/42		910
	7,901,414		FNMA		3.000		04/25/43		7,924
	6,794,114		FNMA		4.500		06/01/44		7,142
	6,692,035		FNMA		4.500		10/01/44		7,038
	12,830,805		FNMA		4.500		11/01/44		13,493
	3,820,756		FNMA		4.500		12/01/44		4,018
	37,838,231		FNMA		3.000		02/25/45		38,218
	8,245,284		FNMA		3.000		02/25/45		8,327
	680,214		FNMA		3.500		03/01/45		696
	380,275		FNMA		3.500		03/01/45		387
	1,546,369		FNMA		4.500		03/01/45		1,625
	11,090,420		FNMA		3.000		03/25/45		11,179
	640,437		FNMA		4.500		04/01/45		673
	30,023,754		FNMA		3.500		04/25/45		30,811
	33,510,070		FNMA		3.500		04/25/45		34,351
	14,796,395	h	FNMA		3.500		05/01/45		15,150
	8,353,925		FNMA		4.000		06/01/45		8,664
	68,309,609		FNMA		3.000		12/25/45		68,545
	21,305,314		FNMA		3.500		01/01/46		21,790
	37,277,000		FNMA		4.000		01/01/46		38,943
	1,113,315	h	FNMA		4.000		03/01/46		1,156
	18,811,551		FNMA		3.500		06/01/46		19,233
	4,423,071		FNMA		3.500		08/01/46		4,503
	21,248,365		FNMA		3.500		10/01/46		21,724
	28,101,095		FNMA		3.000		11/01/46		27,986
	3,314,675	h	FNMA		3.000		12/01/46		3,305
	44,890,099		FNMA		3.500		12/01/46		45,619
	110,306,660		FNMA		3.500		01/01/47		111,944
	2,541,024	h	FNMA		3.000		02/01/47		2,534
	1,569,749	h	FNMA		3.000		03/01/47		1,565
	8,978,979		FNMA		3.000		04/25/47		9,001
	930,550		FNMA		3.500		11/01/47		945
	3,214,903		FNMA		3.500		12/01/47		3,265
	16,454,302		FNMA		4.500		01/01/48		17,527
	14,625,007		FNMA		4.500		02/01/48		15,576
	128,400,986		FNMA		3.000		02/25/48		129,095
	16,090,981		FNMA		4.000		03/01/48		16,826
	63,445,115		FNMA		4.500		03/01/48		67,573
	179,068,743		FNMA		4.000		04/01/48		184,890
	11,812,967		FNMA		4.500		05/01/48		12,581
	8,960,423		FNMA		4.500		05/01/48		9,543
	49,398,561	h	FNMA		4.000		08/01/48		50,924
	7,345,534	h	FNMA		4.500		08/01/48		7,682
	23,431,747		FNMA		5.000		08/01/48		25,382
	50,286,247		FNMA		4.500		12/01/48		52,547
	25,481,081	h	FNMA		5.000		12/01/48		26,976
	13,806,284		Government National Mortgage Association (GNMA)		3.700		10/15/33		14,096
	223,087		GNMA		6.000		10/20/36		248
	256,800		GNMA		6.000		01/20/37		285
	782,638		GNMA		6.000		02/20/37		868
	578,402		GNMA		5.000		04/15/38		621
	255,936		GNMA		6.000		08/20/38		283

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	479,018	GNMA		6.500	%	11/20/38	$	545
	63,018	GNMA		4.500		02/20/39		67
	220,354	GNMA		2.176		05/16/39		219
	1,938,502	GNMA		5.000		06/15/39		2,082
	1,229,095	GNMA		5.000		06/15/39		1,320
	11,204,970	GNMA		3.700		08/15/40		11,456
	89,180	GNMA		4.500		08/20/41		95
	308,050	GNMA		4.500		09/20/41		327
	69,647	GNMA		4.500		01/20/44		74
	69,955	GNMA		4.500		02/20/44		74
	134,403	GNMA		4.500		05/20/44		143
	865,442	GNMA		4.500		05/20/44		919
	986,936	GNMA		4.500		08/20/44		1,048
	672,980	GNMA		4.500		09/20/44		705
	373,475	GNMA		4.500		10/20/44		395
	201,114	GNMA		4.500		11/20/44		211
	610,821	GNMA		4.500		12/20/44		649
	896,839	GNMA		4.500		02/20/45		952
	1,162,024	GNMA		4.500		08/20/45		1,234
	959,296	GNMA		4.500		08/20/45		1,013
	1,033,675	GNMA		4.500		12/20/45		1,097
	15,588,936	GNMA		4.000		06/20/46		2,400
	48,868,342	GNMA		3.000		12/20/47		49,117
	112,194,718	GNMA		3.500		12/20/47		114,728
	62,946,734	GNMA		3.000		01/20/48		63,267
	68,412,707	GNMA		3.500		01/20/48		69,953
	25,265,157	GNMA		4.000		12/20/48		26,105
	25,099,284	GNMA		3.500		01/20/49		25,634
		TOTAL MORTGAGE BACKED						2,404,550
MUNICIPAL BONDS - 4.6%
	28,410,000	California State University		3.899		11/01/47		28,450
	2,975,000	Chicago Housing Authority		3.682		01/01/25		3,081
	845,000	City & County of San Francisco CA		3.750		09/01/37		853
	2,000,000	City & County of San Francisco CA		4.000		09/01/48		2,003
	245,000	City & County of San Francisco CA Community Facilities District		3.264		09/01/25		248
	1,000,000	City & County of San Francisco CA Community Facilities District		4.038		09/01/34		1,022
	2,950,000	City & County of San Francisco CA Community Facilities District		4.221		09/01/39		3,039
	8,725,000	City of Dallas TX Waterworks & Sewer System Revenue		1.217		10/01/19		8,670
	5,000,000	City of Dallas TX Waterworks & Sewer System Revenue		1.868		10/01/22		4,900
	2,775,000	City of Dallas TX Waterworks & Sewer System Revenue		2.068		10/01/23		2,711
	1,350,000	City of Dallas TX Waterworks & Sewer System Revenue		2.389		10/01/25		1,318
	3,995,000	City of Los Angeles CA Wastewater System Revenue		4.029		06/01/39		4,141
	4,870,000	City of New York NY		3.430		12/01/24		5,078
	2,025,000	City of San Antonio TX Customer Facility Charge Revenue		4.253		07/01/24		2,082

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,575,000		City of San Antonio TX Customer Facility Charge Revenue		4.353	%	07/01/25	$	1,628
	20,000,000		City of San Francisco CA Public Utilities Commission Water Revenue		4.035		11/01/41		20,349
	7,215,000		Commonwealth Financing Authority		3.864		06/01/38		7,330
	9,950,000		Commonwealth of Massachusetts		3.277		06/01/46		9,444
	1,875,000		County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,843
	1,505,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,486
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		1,484
	2,500,000		County of Miami-Dade FL Aviation Revenue		3.285		10/01/23		2,565
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,469
	2,250,000		County of Miami-Dade FL Aviation Revenue		3.405		10/01/24		2,307
	4,365,000		County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		4,295
	2,375,000		County of Miami-Dade FL Aviation Revenue		3.505		10/01/25		2,456
	2,500,000		County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,456
	3,750,000		County of Miami-Dade FL Aviation Revenue		3.612		10/01/26		3,853
	3,730,000		County of Miami-Dade FL Aviation Revenue		3.732		10/01/37		3,674
	3,900,000		County of Miami-Dade FL Aviation Revenue		3.982		10/01/41		3,904
	9,160,000		County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		9,452
	7,890,000		Denver City & County School District No		4.242		12/15/37		8,597
	39,400,000		Florida Hurricane Catastrophe Fund Finance Corp		2.995		07/01/20		39,608
	11,200,000		Florida State Board of Administration Finance Corp		2.163		07/01/19		11,188
	5,080,000		Illinois Finance Authority		3.944		08/15/47		5,063
	5,265,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.125		09/01/19		5,233
	2,350,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.500		09/01/21		2,295
	1,000,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		2.000		09/01/22		983
	4,805,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		4,705
	2,560,000		Michigan Finance Authority		1.941		11/01/21		2,503
	3,000,000		Michigan Finance Authority		2.244		11/01/22		2,942
	500,000		New Jersey Economic Development Authority		3.300		06/15/19		500
	570,000		New Jersey Economic Development Authority		3.500		06/15/20		571
	500,000		New Jersey Economic Development Authority		3.700		06/15/21		504
	1,110,000		New Jersey Economic Development Authority		3.800		07/01/22		1,115
	870,000		New York City Housing Development Corp		3.403		05/01/22		891
	750,000		New York City Housing Development Corp		3.453		11/01/22		772
	1,360,000		New York City Housing Development Corp		3.523		05/01/23		1,404
	1,815,000		New York City Housing Development Corp		3.573		11/01/23		1,881
	1,000,000		New York City Housing Development Corp		3.650		05/01/24		1,040
	5,680,000		New York State Dormitory Authority		3.998		07/01/39		5,810
	10,605,000		New York State Dormitory Authority		4.294		07/01/44		10,957
	6,000,000		New York State Dormitory Authority		3.879		07/01/46		6,005
	855,000		Oklahoma City Economic Development Trust		3.172		09/01/21		866
	1,120,000		Oklahoma City Economic Development Trust		3.222		09/01/22		1,141
	810,000		Oklahoma City Economic Development Trust		3.440		09/01/24		835
	2,350,000	h	Oregon State Lottery		2.505		04/01/24		2,346
	3,500,000		Palm Beach County Solid Waste Authority		2.083		10/01/21		3,465
	4,720,000		Permanent University Fund		1.880		07/01/19		4,712
	2,320,000		Permanent University Fund		2.258		07/01/20		2,314
	2,160,000		Permanent University Fund		2.408		07/01/21		2,158
	2,750,000		Permanent University Fund		2.508		07/01/22		2,757

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,855,000	Permanent University Fund		2.608	%	07/01/23	$	2,870
	3,250,000	Permanent University Fund		2.708		07/01/24		3,276
	2,335,000	Permanent University Fund		2.808		07/01/25		2,358
	3,775,000	Permanent University Fund		2.908		07/01/26		3,820
	4,000,000	Permanent University Fund		3.008		07/01/27		4,061
	2,000,000	Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,020
	3,400,000	Port of Corpus Christi Authority of Nueces County		3.287		12/01/23		3,458
	1,500,000	Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,530
	1,000,000	Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		1,022
	7,500,000	Port of Morrow OR		1.582		09/01/20		7,392
	2,075,000	Port of Morrow OR		1.782		09/01/21		2,035
	4,355,000	Public Finance Authority		4.269		07/01/40		4,575
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		974
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		977
	1,250,000	Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,216
	1,785,000	Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,732
	1,600,000	Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,542
	700,000	Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		675
	900,000	Regents of the University of California Medical Center Pooled Revenue		2.759		05/15/29		865
	6,000,000	San Francisco City & County Airport Comm-San Francisco International Airport		3.046		05/01/22		6,083
	6,360,000	San Jose Redevelopment Agency		3.375		08/01/34		6,355
	335,000	Santa Ana Community Redevelopment Agency Successor Agency		3.346		09/01/21		341
	1,340,000	Santa Ana Community Redevelopment Agency Successor Agency		3.467		09/01/22		1,379
	1,340,000	Santa Ana Community Redevelopment Agency Successor Agency		3.567		09/01/23		1,393
	13,060,000	State of California		4.600		04/01/38		13,914
	3,060,000	State of Georgia		2.000		07/01/20		3,043
	3,215,000	State of Georgia		2.150		07/01/21		3,184
	3,465,000	State of Georgia		1.910		02/01/23		3,384
	3,905,000	State of Georgia		2.750		07/01/25		3,907
	4,100,000	State of Georgia		2.850		07/01/26		4,104
	4,305,000	State of Georgia		2.950		07/01/27		4,306
	4,520,000	State of Georgia		3.050		07/01/28		4,533
	3,245,000	State of Georgia		3.150		07/01/29		3,263
	7,500,000	State of Illinois		2.000		06/15/19		7,482
	7,160,000	State of Illinois		5.463		02/01/20		7,300
	12,500,000	State of Illinois		1.930		06/15/20		12,316
	12,500,000	State of Illinois		2.250		06/15/21		12,245
	12,500,000	State of Illinois		3.150		06/15/26		12,126
	12,500,000	State of Illinois		3.250		06/15/27		12,002
	20,150,000	State of Illinois		5.100		06/01/33		19,800
	20,000,000	State of Michigan		1.579		11/01/20		19,744
	13,000,000	State of Michigan		1.779		11/01/21		12,787

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	7,000,000	State of Michigan		1.966	%	11/01/22	$	6,878
	9,700,000	State of Oregon Department of Administrative Services		4.103		05/01/39		9,986
	9,900,000	State of Wisconsin		3.154		05/01/27		9,955
	7,000,000	The Ohio State University		3.798		12/01/46		7,238
	6,000,000	University of California		2.570		05/15/22		6,015
	10,230,000	University of California		4.601		05/15/31		11,417
	17,045,000	University of California		3.931		05/15/45		17,463
	21,000,000	University of Chicago		4.151		10/01/45		20,445
	20,000,000	University of New Mexico		3.532		06/20/32		20,283
	500,000	Utah Municipal Power Agency		1.630		07/01/19		498
	835,000	Utah Municipal Power Agency		1.823		07/01/20		824
	500,000	Utah Municipal Power Agency		2.023		07/01/21		491
	1,750,000	Utah Municipal Power Agency		2.262		07/01/22		1,717
	1,500,000	Utah Municipal Power Agency		2.512		07/01/23		1,479
	2,160,000	Virginia Port Authority		4.228		07/01/36		2,208
	390,000	Washington Convention & Sports Authority		3.969		10/01/30		409
		TOTAL MUNICIPAL BONDS						623,447
U.S. TREASURY SECURITIES - 15.2%
	65,602,000	United States Treasury Bond		4.500		02/15/36		83,189
	4,500,000	United States Treasury Bond		4.750		02/15/37		5,913
	47,000,000	United States Treasury Bond		3.500		02/15/39		53,349
	11,900,000	United States Treasury Bond		3.875		08/15/40		14,200
	19,135,000	United States Treasury Bond		4.375		05/15/41		24,452
	16,434,000	United States Treasury Bond		3.750		08/15/41		19,268
	56,375,000	United States Treasury Bond		3.625		08/15/43		64,913
	35,680,000	United States Treasury Bond		3.000		05/15/45		37,096
	81,710,000	United States Treasury Bond		2.875		08/15/45		82,990
	102,850,000	United States Treasury Bond		2.500		05/15/46		96,896
	1,075,000	United States Treasury Bond		3.000		05/15/47		1,117
	58,160,000	United States Treasury Bond		2.750		11/15/47		57,460
	6,655,000	United States Treasury Bond		3.000		02/15/48		6,902
	41,095,000	United States Treasury Bond		3.125		05/15/48		43,678
	85,945,000	United States Treasury Bond		3.000		08/15/48		89,175
	128,220,000	United States Treasury Bond		3.375		11/15/48		143,030
	1,195,000	United States Treasury Note		0.875		04/15/19		1,194
	5,400,000	United States Treasury Note		1.250		04/30/19		5,394
	3,115,000	United States Treasury Note		1.250		05/31/19		3,109
	30,000,000	United States Treasury Note		1.250		06/30/19		29,907
	50,000,000	United States Treasury Note		0.750		07/15/19		49,750
	61,725,000	United States Treasury Note		1.375		07/31/19		61,506
	34,700,000	United States Treasury Note		1.250		08/31/19		34,524
	1,680,000	United States Treasury Note		1.500		10/31/19		1,671
	14,075,000	United States Treasury Note		2.250		02/29/20		14,057
	4,065,000	United States Treasury Note		1.625		03/15/20		4,035
	5,340,000	United States Treasury Note		2.250		03/31/20		5,332
	51,445,000	United States Treasury Note		2.375		04/30/20		51,433
	1,600,000	United States Treasury Note		1.500		05/15/20		1,584
	76,920,000	United States Treasury Note		2.500		05/31/20		77,025
	21,800,000	United States Treasury Note		1.625		07/31/20		21,584
	39,810,000	United States Treasury Note		1.375		09/15/20		39,267
	3,200,000	United States Treasury Note		2.500		12/31/20		3,210
	825,000	United States Treasury Note		2.125		01/31/21		822

349

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	9,925,000		United States Treasury Note		2.500	%	01/31/21	$	9,961
	12,589,300		United States Treasury Note		1.125		02/28/21		12,315
	10,470,000		United States Treasury Note		2.000		02/28/21		10,412
	11,550,000		United States Treasury Note		2.500		02/28/21		11,596
	10,385,000		United States Treasury Note		1.375		04/30/21		10,197
	3,240,000		United States Treasury Note		2.250		04/30/21		3,238
	50,565,000		United States Treasury Note		2.625		05/15/21		50,929
	1,040,000		United States Treasury Note		1.375		05/31/21		1,021
	16,465,000		United States Treasury Note		2.000		05/31/21		16,371
	37,305,000		United States Treasury Note		2.625		06/15/21		37,605
	1,730,000		United States Treasury Note		2.125		06/30/21		1,725
	83,210,000		United States Treasury Note		2.500		02/15/22		83,844
	56,590,000		United States Treasury Note		2.375		03/15/22		56,855
	6,710,000		United States Treasury Note		1.750		03/31/22		6,619
	5,725,000		United States Treasury Note		1.750		04/30/22		5,644
	3,200,000		United States Treasury Note		2.000		07/31/22		3,177
	27,530,000		United States Treasury Note		2.625		02/28/23		27,940
	148,834,000		United States Treasury Note		2.750		04/30/23		151,828
	126,842,000		United States Treasury Note		2.750		05/31/23		129,458
	12,173,000		United States Treasury Note		2.875		11/30/23		12,522
	655,000		United States Treasury Note		2.625		12/31/23		666
	35,505,000		United States Treasury Note		2.375		02/29/24		35,756
	1,075,000		United States Treasury Note		2.625		03/31/25		1,095
	2,685,000		United States Treasury Note		2.875		05/31/25		2,774
	4,895,000		United States Treasury Note		2.750		06/30/25		5,024
	40,000,000		United States Treasury Note		2.500		02/28/26		40,475
	27,625,000		United States Treasury Note		2.750		02/15/28		28,439
	17,110,000		United States Treasury Note		2.625		02/15/29		17,443
	47,375,000		United States Treasury Note		3.000		02/15/49		49,183
			TOTAL U.S. TREASURY SECURITIES						2,053,144
			TOTAL GOVERNMENT BONDS						6,171,341
			(Cost $6,109,612)
STRUCTURED ASSETS - 19.4%
ASSET BACKED - 9.1%
	11,450,000		Ally Auto Receivables Trust		2.100		03/15/22		11,369
			Series - 2017 2 (Class A4)
	742,295		AmeriCredit Automobile Receivables Trust		2.400		01/08/21		742
			Series - 2015 2 (Class C)
	803,254		AmeriCredit Automobile Receivables Trust		1.460		05/10/21		802
			Series - 2016 3 (Class A3)
	12,805,000		AmeriCredit Automobile Receivables Trust		3.340		08/08/21		12,854
			Series - 2015 3 (Class D)
	3,632,324		AmeriCredit Automobile Receivables Trust		1.870		08/18/21		3,621
			Series - 2017 1 (Class A3)
	5,000,000		AmeriCredit Automobile Receivables Trust		1.900		03/18/22		4,972
			Series - 2017 3 (Class A3)
	5,500,000		AmeriCredit Automobile Receivables Trust		2.740		12/08/22		5,475
			Series - 2016 4 (Class D)
	7,900,000	g	Applebee’s Funding LLC		4.277		09/05/44		7,934
			Series - 2014 1 (Class A2)

350

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	74,236	†,g	Asset Backed Funding Corp NIM Trust			5.900	%	07/26/35	$	0	^
			Series - 2005 WMC1 (Class N1)
	8,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.450		03/20/23		8,085
			Series - 2019 1A (Class A)
	12,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.070		09/20/23		12,013
			Series - 2017 1A (Class A)
	32,000,000	g	Avis Budget Rental Car Funding AESOP LLC			2.970		03/20/24		31,896
			Series - 2017 2A (Class A)
	4,745,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.650%		3.146		02/28/41		4,648
			Series - 2006 A (Class M3)
	6,537,000	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 0.670%		3.156		04/25/36		6,481
			Series - 2006 SD1 (Class M1)
	5,250,000		Capital Auto Receivables Asset Trust			1.690		03/20/21		5,230
			Series - 2016 3 (Class A4)
	8,000,000	g	Capital Automotive REIT			3.660		10/15/44		8,006
			Series - 2014 1A (Class A)
	6,865,833	g	Capital Automotive REIT			3.870		04/15/47		6,914
			Series - 2017 1A (Class A1)
	5,800,000		Capital One Multi-Asset Execution Trust			2.430		01/15/25		5,777
			Series - 2017 A3 (Class A3)
	3,875,000		CarMax Auto Owner Trust			2.150		03/15/21		3,866
			Series - 2015 2 (Class B)
	2,640,000		CarMax Auto Owner Trust			2.390		03/15/21		2,635
			Series - 2015 2 (Class C)
	5,500,000		CarMax Auto Owner Trust			1.970		04/15/22		5,465
			Series - 2017 3 (Class A3)
	2,850,000		CarMax Auto Owner Trust			2.250		09/15/22		2,825
			Series - 2017 2 (Class A4)
	4,100,000		CarMax Auto Owner Trust			2.330		05/15/23		4,072
			Series - 2017 4 (Class A4)
	1,796,002	i	C-BASS Trust	LIBOR 1 M + 0.080%		2.566		07/25/36		1,768
			Series - 2006 CB6 (Class A1)
	428,194	i	Chase Funding Mortgage Loan Asset-Backed Certificates			5.700		02/26/35		408
			Series - 2004 2 (Class 1M2)
	369,306		CIT Group Home Equity Loan Trust (Step Bond)			6.200		02/25/30		376
			Series - 2002 1 (Class AF6)
	4,250,000		CNH Equipment Trust			2.930		12/15/21		4,256
			Series - 2018 B (Class A2)
	9,500,000		CNH Equipment Trust			2.170		04/17/23		9,403
			Series - 2017 B (Class A4)
	31,490,000		CNH Equipment Trust			2.360		11/15/24		31,154
			Series - 2017 C (Class A4)
	2,000,000		CNH Equipment Trust			3.300		04/15/25		2,036
			Series - 2018 A (Class A4)
	4,850,000		CNH Equipment Trust			3.220		01/15/26		4,913
			Series - 2019 A (Class A4)
	1,892,067	g	DaimlerChrysler Capital Auto Receivables Trust			1.640		07/15/21		1,886
			Series - 2016 BA (Class A3)

351

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	19,680,000	g	DB Master Finance LLC		3.980	%	02/20/45	$	19,654
			Series - 2015 1A (Class A2II)
	20,870,813	g	DB Master Finance LLC		3.629		11/20/47		20,885
			Series - 2017 1A (Class A2I)
	4,800,000	g,h	DB Master Finance LLC		3.787		05/20/49		4,831
			Series - 2019 1A (Class A2I)
	8,310,000	g,h	DB Master Finance LLC		4.021		05/20/49		8,373
			Series - 2019 1A (Class A2II)
	3,350,000	g,h	DB Master Finance LLC		4.352		05/20/49		3,388
			Series - 2019 1A (Class A23)
	5,000,000		Discover Card Execution Note Trust		2.390		07/15/24		4,977
			Series - 2017 A2 (Class A2)
	2,431,250	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		2,509
			Series - 2015 1A (Class A2II)
	54,248,875	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		53,592
			Series - 2017 1A (Class A2II)
	13,547,625	g	Domino’s Pizza Master Issuer LLC		4.116		07/25/48		13,752
			Series - 2018 1A (Class A2I)
	1,557,167		Ford Credit Auto Lease Trust		1.880		04/15/20		1,556
			Series - 2017 A (Class A3)
	18,000,000	g	Ford Credit Auto Owner Trust		2.150		07/15/26		17,905
			Series - 2015 1 (Class A)
	17,400,000	g	Ford Credit Auto Owner Trust		2.440		01/15/27		17,328
			Series - 2015 2 (Class A)
	16,500,000	g	Ford Credit Auto Owner Trust		2.030		12/15/27		16,232
			Series - 2016 2 (Class A)
	12,000,000	g	Ford Credit Auto Owner Trust		2.620		08/15/28		11,926
			Series - 2017 1 (Class A)
	27,050,000	g	Ford Credit Auto Owner Trust		2.360		03/15/29		26,612
			Series - 2017 2 (Class A)
	3,500,000		Ford Credit Floorplan Master Owner Trust		2.070		05/15/22		3,474
			Series - 2017 1 (Class A1)
	5,000,000		Ford Credit Floorplan Master Owner Trust		2.390		08/15/22		4,979
			Series - 2015 5 (Class A)
	7,000,000		Ford Credit Floorplan Master Owner Trust		2.480		09/15/24		6,953
			Series - 2017 3 (Class A)
	750,000	g,i	FREMF Mortgage Trust		4.019		03/25/49		765
			Series - 2016 K53 (Class B)
	7,360,706		GM Financial Automobile Leasing Trust		2.890		09/21/20		7,367
			Series - 2018 3 (Class A2A)
	6,000,000	g	GM Financial Consumer Automobile Receivables Trust		2.130		03/16/23		5,937
			Series - 2017 3A (Class A4)
	7,000,000	g	GMF Floorplan Owner Revolving Trust		2.130		07/15/20		6,939
			Series - 2017 2 (Class A1)
	3,500,000	g	GMF Floorplan Owner Revolving Trust		1.960		05/17/21		3,497
			Series - 2016 1 (Class A1)
	2,950,000	g	GMF Floorplan Owner Revolving Trust		2.220		01/18/22		2,936
			Series - 2017 1 (Class A1)
	750,258	g	HERO Funding Trust		3.280		09/20/48		741
			Series - 2017 2A (Class A1)
	1,500,515	g	HERO Funding Trust		4.070		09/20/48		1,527
			Series - 2017 2A (Class A2)
	5,250,000	g	Hertz Vehicle Financing II LP		3.710		03/25/23		5,316
			Series - 2019 1A (Class A)
	15,500,000	g	Hertz Vehicle Financing II LP		3.290		02/25/24		15,436
			Series - 2018 1A (Class A)

352

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	11,875,000	g	Hertz Vehicle Financing LLC			2.270	%	07/25/20	$	11,850
			Series - 2016 3A (Class A)
	10,000,000	g	Hertz Vehicle Financing LLC			4.030		07/25/24		10,252
			Series - 2018 3A (Class A)
	6,529,991	g	Hilton Grand Vacations Trust			2.660		12/26/28		6,480
			Series - 2017 AA (Class A)
	5,632,117	g	Hilton Grand Vacations Trust			2.960		12/26/28		5,552
			Series - 2017 AA (Class B)
	2,773,537	g	Hilton Grand Vacations Trust			4.000		02/25/32		2,810
			Series - 2018 AA (Class C)
	7,100,000	g	Houston Galleria Mall Trust			3.087		03/05/37		7,084
			Series - 2015 HGLR (Class A1A2)
	1,750,000	g	Hyundai Auto Lease Securitization Trust			2.120		02/16/21		1,744
			Series - 2017 C (Class A3)
	3,750,000	g	Hyundai Auto Lease Securitization Trust			2.210		09/15/21		3,731
			Series - 2017 C (Class A4)
	779,725	i	Irwin Home Equity Corp	LIBOR 1 M + 0.760%		3.246		02/25/34		773
			Series - 2005 A (Class A3)
	7,835,645	g	JG Wentworth XXII LLC			3.820		12/15/48		7,993
			Series - 2010 3A (Class A)
	6,700,000		John Deere Owner Trust			2.110		07/15/24		6,638
			Series - 2017 B (Class A4)
	5,834,648	i	Morgan Stanley ABS Capital I, Inc Trust	LIBOR 1 M + 1.050%		3.266		12/27/33		5,829
			Series - 2004 NC1 (Class M1)
	2,820,291	g	MVW Owner Trust			2.520		12/20/32		2,791
			Series - 2015 1A (Class A)
	7,369,434	g	MVW Owner Trust			2.420		12/20/34		7,229
			Series - 2017 1A (Class A)
	7,536,781	g	MVW Owner Trust			3.450		01/21/36		7,644
			Series - 2018 1A (Class A)
	2,500,000	g,i	Natixis Commercial Mortgage Securities Trust			3.790		11/15/32		2,521
			Series - 2018 285M (Class C)
	4,400,000	g	Navient Student Loan Trust			3.390		12/15/59		4,400
			Series - 2019 BA (Class A2A)
	2,061,389	g	Orange Lake Timeshare Trust			3.100		11/08/30		2,068
			Series - 2018 A (Class A)
	2,000,000	g	Palisades Center Trust			3.357		04/13/33		1,960
			Series - 2016 PLSD (Class B)
	14,427,500	g	Planet Fitness Master Issuer LLC			4.262		09/05/48		14,660
			Series - 2018 1A (Class A2I)
	4,975,000	g	Planet Fitness Master Issuer LLC			4.666		09/05/48		5,134
			Series - 2018 1A (Class A2II)
	2,325,000	g	Pretium Mortgage Credit Partners I LLC (Step Bond)			5.000		03/27/33		2,313
			Series - 2018 NPL2 (Class A2)
	3,080,461	g	Pretium Mortgage Credit Partners I LLC (Step Bond)			4.125		08/25/33		3,098
			Series - 2018 NPL3 (Class A1)
	4,831,656	g	Pretium Mortgage Credit Partners I LLC (Step Bond)			4.213		07/25/60		4,848
			Series - 2019 NPL1 (Class A1)
	1,540,000	i	RASC	LIBOR 1 M + 0.590%		3.080		08/25/35		1,538
			Series - 2005 KS8 (Class M4)
	2,000,000	g	RBS Commercial Funding, Inc Trust			3.511		03/11/31		1,982
			Series - 2013 SMV (Class B)

353

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	16,467	i	Renaissance Home Equity Loan Trust	LIBOR 1 M + 0.880%		3.366	%	08/25/33	$	16
			Series - 2003 2 (Class A)
	1,691,189		Santander Drive Auto Receivables Trust			1.870		06/15/21		1,690
			Series - 2017 3 (Class A3)
	8,920,000		Santander Drive Auto Receivables Trust			2.970		07/15/21		8,923
			Series - 2018 5 (Class A2A)
	96,461		Santander Drive Auto Receivables Trust			2.740		12/15/21		96
			Series - 2015 5 (Class C)
	5,325,000		Santander Drive Auto Receivables Trust			3.190		03/15/22		5,349
			Series - 2018 5 (Class A3)
	6,000,000		Santander Drive Auto Receivables Trust			2.800		08/15/22		5,994
			Series - 2016 3 (Class D)
	8,000,000		Santander Drive Auto Receivables Trust			3.170		04/17/23		8,007
			Series - 2017 1 (Class D)
	4,250,000		Santander Drive Auto Receivables Trust			3.210		09/15/23		4,269
			Series - 2019 1 (Class B)
	12,500,000	g	Santander Retail Auto Lease Trust			2.370		01/20/22		12,431
			Series - 2017 A (Class A4)
	1,931,810	g	Sierra Receivables Funding Co LLC			2.400		03/22/32		1,923
			Series - 2015 1A (Class A)
	12,174,909	g	Sierra Receivables Funding Co LLC			2.910		03/20/34		12,074
			Series - 2017 1A (Class A)
	5,612,524	g	Sierra Receivables Funding Co LLC			3.200		03/20/34		5,585
			Series - 2017 1A (Class B)
	2,446,952	g	Sierra Timeshare Receivables Funding LLC			2.580		09/20/32		2,434
			Series - 2015 3A (Class A)
	2,951,562	g	Sierra Timeshare Receivables Funding LLC			3.080		09/20/32		2,942
			Series - 2015 3A (Class B)
	1,553,241	g	Sierra Timeshare Receivables Funding LLC			3.080		03/21/33		1,551
			Series - 2016 1A (Class A)
	5,030,546	g	Sierra Timeshare Receivables Funding LLC			2.330		07/20/33		4,961
			Series - 2016 2A (Class A)
	801,042	g	Sierra Timeshare Receivables Funding LLC			2.780		07/20/33		791
			Series - 2016 2A (Class B)
	3,624,877	g	Sierra Timeshare Receivables Funding LLC			2.430		10/20/33		3,604
			Series - 2016 3A (Class A)
	2,148,075	g	Sierra Timeshare Receivables Funding LLC			2.630		10/20/33		2,117
			Series - 2016 3A (Class B)
	5,627,748	g	Sierra Timeshare Receivables Funding LLC			3.500		06/20/35		5,696
			Series - 2018 2A (Class A)
	6,829,259	g	Sierra Timeshare Receivables Funding LLC			4.170		09/20/35		6,967
			Series - 2018 3A (Class C)
	8,650,000	g	Sierra Timeshare Receivables Funding LLC			3.200		01/20/36		8,704
			Series - 2019 1A (Class A)
	10,000,000	g	Sierra Timeshare Receivables Funding LLC			3.770		01/20/36		10,059
			Series - 2019 1A (Class C)
	1,648,348	g	SLM Student Loan Trust			3.740		02/15/29		1,650
			Series - 2011 B (Class A2)
	3,032,600	g	SMB Private Education Loan Trust			2.490		06/15/27		3,011
			Series - 2015 A (Class A2A)
	6,646,208	g	SMB Private Education Loan Trust			2.750		07/15/27		6,634
			Series - 2015 C (Class A2A)
	10,185,566	g	SMB Private Education Loan Trust			2.430		02/17/32		10,023
			Series - 2016 B (Class A2A)

354

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	15,564,821	g	SMB Private Education Loan Trust			2.880	%	09/15/34	$	15,375
			Series - 2017 A (Class A2A)
	15,250,000	g	SMB Private Education Loan Trust			2.820		10/15/35		15,087
			Series - 2017 B (Class A2A)
	5,000,000	g	SMB Private Education Loan Trust			3.500		02/15/36		5,099
			Series - 2018 A (Class A2A)
	8,260,353	g	Sofi Professional Loan Program LLC			3.120		02/25/48		8,283
			Series - 2018 D (Class A1FX)
	5,500,000	g	Sofi Professional Loan Program LLC			3.690		06/15/48		5,654
			Series - 2019 A (Class A2FX)
	15,090,769	g	SoFi Professional Loan Program LLC			2.340		04/25/33		14,820
			Series - 2016 D (Class A2B)
	15,041,792	g	SoFi Professional Loan Program LLC			2.490		01/25/36		14,898
			Series - 2016 E (Class A2B)
	2,411,451	g	SoFi Professional Loan Program LLC			2.760		12/26/36		2,395
			Series - 2016 A (Class A2)
	439,465	g	SoFi Professional Loan Program LLC			1.550		03/26/40		438
			Series - 2017 A (Class A2A)
	4,925,000	g	SoFi Professional Loan Program LLC			2.400		03/26/40		4,836
			Series - 2017 A (Class A2B)
	3,839,575	g	SoFi Professional Loan Program LLC			1.830		05/25/40		3,824
			Series - 2017 B (Class A1FX)
	13,050,000	g	SoFi Professional Loan Program LLC			2.740		05/25/40		12,924
			Series - 2017 B (Class A2FX)
	4,000,000	g	SoFi Professional Loan Program LLC			2.630		07/25/40		3,928
			Series - 2017 C (Class A2B)
	10,556,000	g	SoFi Professional Loan Program LLC			2.720		11/26/40		10,437
			Series - 2017 E (Class A2B)
	13,500,000	g	SoFi Professional Loan Program LLC			2.840		01/25/41		13,422
			Series - 2017 F (Class A2FX)
	21,000,000	g	SoFi Professional Loan Program LLC			2.950		02/25/42		20,900
			Series - 2018 A (Class A2B)
	3,361,159	g	SolarCity LMC			4.590		04/20/44		3,427
			Series - 2014 1 (Class A)
	25,995,043	g	SpringCastle America Funding LLC			3.050		04/25/29		25,962
			Series - 2016 AA (Class A)
	3,000,000	g	SpringCastle America Funding LLC			4.100		10/25/33		3,049
			Series - 2016 AA (Class B)
	520,007	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		3.386		09/25/34		516
			Series - 2004 8 (Class M1)
	992,368	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		3.486		09/25/34		987
			Series - 2004 8 (Class A9)
	14,000,000		Synchrony Credit Card Master Note Trust			2.620		10/15/25		13,961
			Series - 2017 2 (Class A)
	14,513,625	g	Taco Bell Funding LLC			4.318		11/25/48		14,933
			Series - 2018 1A (Class A2I)
	8,645,258	g	Tesla Auto Lease Trust			3.710		08/20/21		8,744
			Series - 2018 B (Class A)
	7,339,648	g	TLF National Tax Lien Trust			3.090		12/15/29		7,287
			Series - 2017 1A (Class A)
	12,548,000		UBS Commercial Mortgage Trust			3.256		06/15/50		12,659
			Series - 2017 C1 (Class ASB)
	2,000,000		UBS Commercial Mortgage Trust			3.366		10/15/50		2,027
			Series - 2017 C4 (Class ASB)

355

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	23,465,000	g	Verizon Owner Trust			2.060	%	09/20/21	$	23,392
			Series - 2017 1A (Class A)
	21,500,000	g	Verizon Owner Trust			1.920		12/20/21		21,380
			Series - 2017 2A (Class A)
	49,400,000		Verizon Owner Trust			3.230		04/20/23		50,001
			Series - 2018 A (Class A1A)
	5,853,618	g	VOLT LXII LLC (Step Bond)			3.125		09/25/47		5,832
			Series - 2017 NPL9 (Class A1)
	1,108,321	g	VOLT LXV LLC (Step Bond)			3.750		04/25/48		1,105
			Series - 2018 NPL1 (Class A1)
	7,474,315	g	VOLT LXXIII LLC (Step Bond)			4.458		10/25/48		7,524
			Series - 2018 NPL9 (Class A1A)
	5,941,464	g	VOLT LXXV LLC (Step Bond)			4.336		01/25/49		5,986
			Series - 2019 NPL1 (Class A1A)
	7,427,493	g	VOLT LXXV LLC (Step Bond)			3.967		02/25/49		7,437
			Series - 2019 NPL2 (Class A1)
	5,500,000	g	VOLT LXXV LLC (Step Bond)			3.967		03/25/49		5,506
			Series - 2019 NPL3 (Class A1)
	1,890,000	g	Vornado DP LLC			5.280		09/13/28		1,932
			Series - 2010 VNO (Class C)
	122,380	g,i	Wachovia Loan Trust	LIBOR 1 M + 0.360%		2.846		05/25/35		122
			Series - 2005 SD1 (Class A)
	41,968,750	g	Wendys Funding LLC			3.573		03/15/48		41,375
			Series - 2018 1A (Class A2I)
	2,468,750	g	Wendys Funding LLC			3.884		03/15/48		2,434
			Series - 2018 1A (Class A2II)
	3,000,000		World Financial Network Credit Card Master Trust			2.030		04/15/25		2,952
			Series - 2016 A (Class A)
	17,800,000		World Omni Auto Receivables Trust			3.010		04/15/22		17,851
			Series - 2018 D (Class A2A)
	3,000,000		World Omni Auto Receivables Trust			2.240		06/15/23		2,982
			Series - 2017 A (Class A4)
	9,000,000		World Omni Auto Receivables Trust			2.250		10/16/23		8,885
			Series - 2017 B (Class A4)
	7,300,000		World Omni Auto Receivables Trust			3.330		04/15/24		7,436
			Series - 2018 D (Class A3)
	1,341,536		World Omni Automobile Lease Securitization Trust			1.610		01/15/22		1,341
			Series - 2016 A (Class A4)
			TOTAL ASSET BACKED							1,233,037
OTHER MORTGAGE BACKED - 10.3%
	25,000,000	g,i	20 TSQ GROUNDCO LLC			3.100		05/15/35		23,872
			Series - 2018 20TS (Class E)
	3,300,754	g,i	Agate Bay Mortgage Trust			3.500		11/25/44		3,272
			Series - 2014 3 (Class A13)
	9,226,499	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		9,068
			Series - 2015 6 (Class A9)
	1,015,895	i	Alternative Loan Trust	LIBOR 1 M + 0.500%		2.986		06/25/34		1,012
			Series - 2004 8CB (Class M1)
	154,577	g,i	Banc of America Commercial Mortgage Trust			5.678		02/10/51		157
			Series - 2007 4 (Class E)

356

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,575,633	i	Banc of America Commercial Mortgage Trust		5.763	%	02/10/51	$	3,371
			Series - 2007 5 (Class AJ)
	2,000,000	†,g,i	Banc of America Commercial Mortgage Trust		6.038		02/10/51		308
			Series - 2007 5 (Class B)
	5,000,000		BANK		3.265		09/15/60		5,049
			Series - 2017 BNK7 (Class ASB)
	3,850,000	g	BBCMS Mortgage Trust		3.821		09/05/32		3,868
			Series - 2013 TYSN (Class C)
	1,500,000	g,i	BBCMS Mortgage Trust		4.267		08/05/38		1,325
			Series - 2018 CHRS (Class E)
	15,000,000		BBCMS Mortgage Trust		3.488		02/15/50		15,322
			Series - 2017 C1 (Class ASB)
	6,102,000	g	BWAY Mortgage Trust		2.917		01/10/35		6,070
			Series - 2015 1740 (Class A)
	2,500,000	g	BWAY Mortgage Trust		3.342		01/10/35		2,483
			Series - 2015 1740 (Class C)
	7,698,000		CCUBS Commercial Mortgage Trust		3.462		11/15/50		7,905
			Series - 2017 C1 (Class ASB)
	1,000,000		CD Commercial Mortgage Trust		3.453		02/10/50		1,025
			Series - 2017 CD3 (Class AAB)
	5,167,000		CD Mortgage Trust		2.622		08/10/49		5,112
			Series - 2016 CD1 (Class ASB)
	9,000,000		CD Mortgage Trust		2.926		08/10/49		8,680
			Series - 2016 CD1 (Class AM)
	5,000,000		CD Mortgage Trust		3.220		08/15/50		5,025
			Series - 2017 CD5 (Class AAB)
	962,807		CFCRE Commercial Mortgage Trust		3.121		05/10/58		965
			Series - 2016 C4 (Class AHR)
	4,000,000	g	CGBAM Commercial Mortgage Trust		3.768		04/10/28		4,032
			Series - 2015 SMRT (Class D)
	5,300,000		CGMS Commercial Mortgage Trust		3.243		08/15/50		5,355
			Series - 2017 B1 (Class AAB)
	2,560,746	i	CHL Mortgage Pass-Through Trust		4.263		02/20/35		2,576
			Series - 2004 HYB9 (Class 1A1)
	4,092,000		Citigroup Commercial Mortgage Trust		3.371		10/10/47		4,155
			Series - 2014 GC25 (Class AAB)
	3,000,000	i	Citigroup Commercial Mortgage Trust		4.143		04/10/48		3,016
			Series - 2015 GC29 (Class C)
	2,243,593		Citigroup Commercial Mortgage Trust		1.506		05/10/49		2,216
			Series - 2016 C1 (Class A1)
	6,500,000		Citigroup Commercial Mortgage Trust		3.003		05/10/49		6,531
			Series - 2016 C1 (Class AAB)
	6,765,000		Citigroup Commercial Mortgage Trust		3.764		10/12/50		6,936
			Series - 2017 C4 (Class AS)
	5,000,000	g	COMM Mortgage Trust		3.244		10/10/29		5,041
			Series - 2017 PANW (Class A)
	3,750,000		COMM Mortgage Trust		2.853		10/15/45		3,727
			Series - 2012 CR4 (Class A3)
	4,000,000	g	COMM Mortgage Trust		3.397		03/10/46		3,956
			Series - 2013 CR6 (Class B)
	3,359,721	g,i	COMM Mortgage Trust		3.961		06/10/46		3,441
			Series - 2013 CR8 (Class B)
	4,325,000	g,i	COMM Mortgage Trust		4.793		08/10/46		4,573
			Series - 2013 CR10 (Class B)

357

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	4,780,000	g,i	COMM Mortgage Trust			4.793	%	08/10/46	$	4,984
			Series - 2013 CR10 (Class C)
	8,500,000	i	COMM Mortgage Trust			4.691		02/10/47		9,078
			Series - 2014 CR15 (Class B)
	4,150,000		COMM Mortgage Trust			3.691		03/10/47		4,297
			Series - 2014 UBS2 (Class A4)
	1,933,333		COMM Mortgage Trust			4.199		03/10/47		2,002
			Series - 2014 UBS2 (Class AM)
	1,843,000	i	COMM Mortgage Trust			4.731		07/15/47		1,904
			Series - 2014 CR18 (Class C)
	1,500,000	i	COMM Mortgage Trust			4.714		08/10/47		1,554
			Series - 2014 CR19 (Class C)
	14,331,817		COMM Mortgage Trust			3.917		10/10/47		14,987
			Series - 2014 LC17 (Class A5)
	1,185,000	i	COMM Mortgage Trust			4.490		10/10/47		1,234
			Series - 2014 LC17 (Class B)
	100,694		COMM Mortgage Trust			1.399		02/10/48		100
			Series - 2015 LC19 (Class A1)
	3,132,775	i	COMM Mortgage Trust			3.603		03/10/48		3,151
			Series - 2015 CR22 (Class AM)
	1,000,000	i	COMM Mortgage Trust			3.926		03/10/48		1,011
			Series - 2015 CR22 (Class B)
	1,805,000	i	COMM Mortgage Trust			4.118		03/10/48		1,845
			Series - 2015 CR22 (Class C)
	5,500,000	g,i	COMM Mortgage Trust			3.685		05/10/48		5,530
			Series - 2015 CR23 (Class CMB)
	8,150,000		COMM Mortgage Trust			3.801		05/10/48		8,347
			Series - 2015 CR23 (Class AM)
	4,000,000	i	COMM Mortgage Trust			4.183		05/10/48		4,116
			Series - 2015 CR23 (Class B)
	2,530,000	i	COMM Mortgage Trust			4.252		05/10/48		2,598
			Series - 2015 CR23 (Class C)
	4,900,000		COMM Mortgage Trust			3.421		07/10/48		5,003
			Series - 2015 LC21 (Class ASB)
	4,800,000		COMM Mortgage Trust			3.696		08/10/48		4,967
			Series - 2015 CR24 (Class A5)
	3,685,000	i	COMM Mortgage Trust			4.379		08/10/48		3,866
			Series - 2015 CR24 (Class B)
	8,212,000	i	COMM Mortgage Trust			4.361		10/10/48		8,591
			Series - 2015 CR27 (Class B)
	1,078,344		COMM Mortgage Trust			3.651		02/10/49		1,099
			Series - 2016 CR28 (Class AHR)
	776,868		COMM Mortgage Trust			1.667		07/10/50		775
			Series - 2015 PC1 (Class A1)
	1,000,000		COMM Mortgage Trust			3.961		05/10/51		1,053
			Series - 2018 COR3 (Class A2)
	4,650,000	i	Commercial Mortgage Pass Through Certificates			4.647		02/10/49		4,962
			Series - 2016 CR28 (Class B)
	25,066,139	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		5.086		05/25/24		26,279
			Series - 2014 C02 (Class 1M2)
	13,368,832	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		5.486		07/25/24		14,192
			Series - 2014 C03 (Class 1M2)

358

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	4,578,995	i	Connecticut Avenue Securities	LIBOR 1 M + 1.450%		3.936	%	01/25/29	$	4,596
			Series - 2016 C04 (Class 1M1)
	9,123,050	i	Connecticut Avenue Securities	LIBOR 1 M + 1.300%		3.786		04/25/29		9,160
			Series - 2016 C06 (Class 1M1)
	6,534,784	i	Connecticut Avenue Securities	LIBOR 1 M + 1.300%		2.165		07/25/29		6,561
			Series - 2017 C01 (Class 1M1)
	14,968,941	i	Connecticut Avenue Securities	LIBOR 1 M + 0.950%		3.436		10/25/29		14,995
			Series - 2017 C03 (Class 1M1)
	7,714,076	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		3.336		11/25/29		7,723
			Series - 2017 C04 (Class 2M1)
	40,125,984	i	Connecticut Avenue Securities	LIBOR 1 M + 0.600%		3.086		07/25/30		40,035
			Series - 2018 C01 (Class 1M1)
	13,748,842	i	Connecticut Avenue Securities	LIBOR 1 M + 0.680%		3.166		10/25/30		13,743
			Series - 2018 C03 (Class 1M1)
	2,033,200	i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%		3.236		12/25/30		2,033
			Series - 2018 C04 (Class 2M1)
	9,418,462	i	Connecticut Avenue Securities	LIBOR 1 M + 0.720%		3.206		01/25/31		9,416
			Series - 2018 C05 (Class 1M1)
	4,163,235	i	Connecticut Avenue Securities	LIBOR 1 M + 2.350%		4.836		01/25/31		4,181
			Series - 2018 C05 (Class 1M2)
	4,140,000	i	Connecticut Avenue Securities	LIBOR 1 M + 2.100%		4.586		03/25/31		4,087
			Series - 2018 C06 (Class 2M2)
	6,468,092	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%		3.236		04/25/31		6,466
			Series - 2018 R07 (Class 1M1)
	8,125,736	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		3.336		07/25/31		8,128
			Series - 2019 R01 (Class 2M1)
	1,005,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.450%		4.936		07/25/31		1,006
			Series - 2019 R01 (Class 2M2)
	2,820,232	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		3.336		08/25/31		2,822
			Series - 2019 R02 (Class 1M1)
	4,689,000	g,i	Credit Suisse Commercial Mortgage Trust			5.897		01/15/49		5,830
			Series - 2007 C2 (Class C)
	1,360,000	g	Credit Suisse First Boston Mortgage Securities Corp			5.538		05/15/23		1,382
			Series - 2006 OMA (Class B2)
	7,000,000	g	Credit Suisse Mortgage Capital Certificates			5.626		05/15/23		7,117
			Series - 2006 OMA (Class D)
	4,000,000		CSAIL Commercial Mortgage Trust			3.314		11/15/49		4,062
			Series - 2016 C7 (Class ASB)
	4,000,000		CSAIL Commercial Mortgage Trust			3.186		06/15/50		4,039
			Series - 2017 C8 (Class ASB)
	7,400,000	g,i	CSMC Trust			3.728		11/10/32		7,571
			Series - 2017 CALI (Class B)
	14,000,000	g	CSMC Trust			3.639		11/15/34		14,381
			Series - 2015 GLPB (Class A)
	10,296,239	g,i	CSMC Trust			3.500		02/25/48		10,049
			Series - 2018 J1 (Class A11)
	11,000,000		DBJPM Mortgage Trust			2.756		08/10/49		10,937
			Series - 2016 C3 (Class ASB)
	10,000,000		DBJPM Mortgage Trust			3.121		06/10/50		10,080
			Series - 2017 C6 (Class ASB)
	17,110,000	g	DBUBS Mortgage Trust			3.452		10/10/34		17,473
			Series - 2017 BRBK (Class A)
	15,500,000	g,i	DBUBS Mortgage Trust			3.530		10/10/34		15,736
			Series - 2017 BRBK (Class B)

359

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	4,922,766	g	DBUBS Mortgage Trust			4.452	%	05/10/44	$	5,043
			Series - 2011 LC3A (Class PM1)
	23,978,511	g	DBUBS Mortgage Trust			4.537		07/10/44		24,708
			Series - 2011 LC2A (Class A4)
	3,000,000	g,i	DBUBS Mortgage Trust			4.998		07/10/44		3,117
			Series - 2011 LC2A (Class B)
	5,000,000	g,i	DBUBS Mortgage Trust			5.532		07/10/44		5,235
			Series - 2011 LC2A (Class C)
	5,500,000	g,i	DBUBS Mortgage Trust			5.339		08/10/44		5,778
			Series - 2011 LC3A (Class AM)
	2,084,000	g,i	DBUBS Mortgage Trust			5.339		08/10/44		2,184
			Series - 2011 LC3A (Class B)
	5,525,000	g,i	DBUBS Mortgage Trust			5.699		11/10/46		5,758
			Series - 2011 LC1A (Class C)
	7,666,954	g,i	Flagstar Mortgage Trust			3.500		03/25/47		7,667
			Series - 2017 1 (Class 1A5)
	24,259,729	g,i	Flagstar Mortgage Trust			4.000		05/25/48		24,517
			Series - 2018 3INV (Class A3)
	3,918,928	g,i	Flagstar Mortgage Trust			4.000		09/25/48		3,915
			Series - 2018 5 (Class A11)
	4,730,833	g	Four Times Square Trust Commercial Mortgage Pass-Through Certificates			5.401		12/13/28		4,902
			Series - 2006 4TS (Class A)
	3,665,000	i	GMAC Commercial Mortgage Securities, Inc			4.984		12/10/41		3,663
			Series - 2004 C3 (Class C)
	10,000,000	g	GRACE Mortgage Trust			3.369		06/10/28		10,107
			Series - 2014 GRCE (Class A)
	8,970,000	g	GRACE Mortgage Trust			3.520		06/10/28		9,037
			Series - 2014 GRCE (Class B)
	2,723,579	i	Greenwich Capital Commercial Funding Corp			5.614		07/10/38		2,739
			Series - 2006 GG7 (Class AM)
	5,943,000	g	GS Mortgage Securities Corp II			3.551		04/10/34		6,055
			Series - 2012 ALOH (Class A)
	4,430,000	g	GS Mortgage Securities Corp II			2.954		11/05/34		4,437
			Series - 2012 BWTR (Class A)
	4,500,000	g	GS Mortgage Securities Corp II			3.682		02/10/46		4,549
			Series - 2013 GC10 (Class B)
	2,500,000	i	GS Mortgage Securities Corp II			4.057		05/10/50		2,489
			Series - 2015 GC30 (Class C)
	5,910,000	g,i	GS Mortgage Securities Trust			5.182		12/10/43		6,103
			Series - 2010 C2 (Class B)
	2,250,000		GS Mortgage Securities Trust			2.635		05/10/49		2,240
			Series - 2016 GS2 (Class A2)
	1,000,000		GS Mortgage Securities Trust			3.143		10/10/49		979
			Series - 2016 GS3 (Class AS)
	12,000,000		GS Mortgage Securities Trust			3.230		05/10/50		12,164
			Series - 2017 GS6 (Class AAB)
	3,000,000		GS Mortgage Securities Trust			3.837		11/10/50		3,133
			Series - 2017 GS8 (Class ABP)
	4,126,302	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		3.102		08/19/45		4,025
			Series - 2005 11 (Class 2A1A)

360

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	7,000,000	g	Hudson Yards Mortgage Trust			2.835	%	08/10/38	$	6,847
			Series - 2016 10HY (Class A)
	2,500,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		2,441
			Series - 2016 10HY (Class B)
	7,250,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		7,005
			Series - 2016 10HY (Class C)
	658,926	i	Impac CMB Trust	LIBOR 1 M + 0.660%		3.146		03/25/35		646
			Series - 2004 11 (Class 2A1)
	23,058,872	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.717		02/15/46		23,678
			Series - 2011 C3 (Class A4)
	10,975,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.360		02/15/46		11,261
			Series - 2011 C3 (Class C)
	16,813,036	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.388		07/15/46		17,279
			Series - 2011 C4 (Class A4)
	15,000,000	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.801		07/15/46		15,493
			Series - 2011 C4 (Class B)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.399		07/15/46		6,739
			Series - 2011 C4 (Class C)
	2,000,000		JP Morgan Chase Commercial Mortgage Securities Trust			3.914		01/15/49		2,096
			Series - 2015 JP1 (Class A5)
	7,000,000		JP Morgan Chase Commercial Mortgage Securities Trust			2.713		08/15/49		6,950
			Series - 2016 JP2 (Class ASB)
	4,500,000		JP Morgan Chase Commercial Mortgage Securities Trust			3.379		09/15/50		4,570
			Series - 2017 JP7 (Class A3)
	23,742,139	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%		2.646		06/25/37		23,290
			Series - 2007 CH5 (Class A1)
	4,878,997	g,i	JP Morgan Mortgage Trust			3.623		12/25/44		4,876
			Series - 2015 1 (Class B1)
	1,548,014	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		1,527
			Series - 2015 3 (Class A19)
	10,406,424	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		10,287
			Series - 2015 6 (Class A13)
	3,086,769	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		3,042
			Series - 2016 1 (Class A13)
	573,624	g,i	JP Morgan Mortgage Trust			3.500		01/25/47		574
			Series - 2017 1 (Class A3)
	11,862,033	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		11,870
			Series - 2017 2 (Class A5)
	3,906,918	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		3,865
			Series - 2017 2 (Class A13)
	972,841	g,i	JP Morgan Mortgage Trust			3.500		08/25/47		973
			Series - 2017 3 (Class 1A5)
	5,748,579	g,i	JP Morgan Mortgage Trust			3.500		06/25/48		5,752
			Series - 2018 1 (Class A5)
	4,029,181	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		4,032
			Series - 2018 3 (Class A5)

361

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,547,302	g,i	JP Morgan Mortgage Trust		3.500	%	10/25/48	$	3,550
			Series - 2018 4 (Class A5)
	4,913,592	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		4,917
			Series - 2018 5 (Class A5)
	5,454,459	g,i	JP Morgan Mortgage Trust		3.000		12/25/48		5,369
			Series - 2017 6 (Class A6)
	6,642,696	g,i	JP Morgan Mortgage Trust		3.500		12/25/48		6,647
			Series - 2018 6 (Class 1A3)
	3,479,556	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		3,528
			Series - 2018 8 (Class A5)
	4,299,166	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		4,300
			Series - 2018 8 (Class A13)
	12,833,427	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		12,876
			Series - 2018 9 (Class A13)
	13,219,529	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		13,285
			Series - 2019 1 (Class A15)
	4,500,000		JPMBB Commercial Mortgage Securities Trust		3.775		08/15/47		4,677
			Series - 2014 C21 (Class A5)
	5,000,000		JPMBB Commercial Mortgage Securities Trust		3.997		08/15/47		5,166
			Series - 2014 C21 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.471		09/15/47		2,095
			Series - 2014 C23 (Class B)
	2,500,000	i	JPMBB Commercial Mortgage Securities Trust		3.917		05/15/48		2,573
			Series - 2015 C29 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.118		05/15/48		2,054
			Series - 2015 C29 (Class B)
	2,500,000		JPMBB Commercial Mortgage Securities Trust		4.106		08/15/48		2,599
			Series - 2015 C31 (Class AS)
	2,210,000	i	JPMBB Commercial Mortgage Securities Trust		4.617		08/15/48		2,333
			Series - 2015 C31 (Class B)
	3,253,000	i	JPMBB Commercial Mortgage Securities Trust		4.617		08/15/48		3,362
			Series - 2015 C31 (Class C)
	3,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.221		10/15/48		3,008
			Series - 2015 C28 (Class C)
	10,729	i	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		11
			Series - 2007 C6 (Class AM)
	103,360	g	LB-UBS Commercial Mortgage Trust		6.114		07/15/40		103
			Series - 2007 C6 (Class AMFL)
	15,000,000	g	LCCM		3.357		07/12/50		15,163
			Series - 2017 LC26 (Class ASB)
	2,497,755		Morgan Stanley Bank of America Merrill Lynch Trust		2.469		02/15/46		2,483
			Series - 2013 C7 (Class AAB)
	2,000,000	i	Morgan Stanley Bank of America Merrill Lynch Trust		4.757		11/15/46		2,119
			Series - 2013 C13 (Class B)
	1,068,165	g	Morgan Stanley Bank of America Merrill Lynch Trust		3.989		12/15/46		1,099
			Series - 2014 C19 (Class LNC1)
	1,824,343		Morgan Stanley Bank of America Merrill Lynch Trust		3.669		02/15/47		1,846
			Series - 2014 C14 (Class A3)
	4,202,977		Morgan Stanley Bank of America Merrill Lynch Trust		3.194		10/15/47		4,201
			Series - 2014 C18 (Class A2)
	1,600,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.605		02/15/48		1,635
			Series - 2015 C20 (Class AS)

362

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,500,000	i	Morgan Stanley Bank of America Merrill Lynch Trust		4.463	%	02/15/48	$	2,548
			Series - 2015 C20 (Class C)
	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.338		03/15/48		2,536
			Series - 2015 C21 (Class A4)
	5,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.652		03/15/48		5,616
			Series - 2015 C21 (Class AS)
	3,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.561		04/15/48		3,037
			Series - 2015 C22 (Class AS)
	5,030,000	g,i	Morgan Stanley Capital I Trust		3.402		07/13/29		5,072
			Series - 2014 CPT (Class AM)
	4,500,000	g	Morgan Stanley Capital I Trust		2.695		01/11/32		4,480
			Series - 2013 WLSR (Class A)
	2,550,000	g	Morgan Stanley Capital I Trust		4.012		09/09/32		2,644
			Series - 2014 150E (Class AS)
	116,598	i	Morgan Stanley Capital I Trust		5.389		11/12/41		116
			Series - 2006 HQ10 (Class AJ)
	7,548,000	g	Morgan Stanley Capital I Trust		4.193		09/15/47		7,650
			Series - 2011 C1 (Class F)
	3,450,000	g,i	Morgan Stanley Capital I Trust		5.376		09/15/47		3,581
			Series - 2011 C1 (Class D)
	5,564,877	i	Morgan Stanley Capital I Trust		6.113		12/12/49		4,192
			Series - 2007 IQ16 (Class AJ)
	3,795,960	i	Morgan Stanley Capital I Trust		6.113		12/12/49		2,860
			Series - 2007 IQ16 (Class AJFX)
	6,000,000		Morgan Stanley Capital I Trust		3.304		06/15/50		6,075
			Series - 2017 H1 (Class ASB)
	9,000,000	g,i	MSDB Trust		3.316		07/11/39		9,046
			Series - 2017 712F (Class A)
	949,895	g	Prima Capital CRE Securitization Ltd		2.550		08/24/49		946
			Series - 2015 4A (Class MR-A)
	3,187,662	g,i	Sequoia Mortgage Trust		3.500		06/25/46		3,151
			Series - 2016 1 (Class A19)
	1,097,772	g,i	Sequoia Mortgage Trust		3.500		11/25/46		1,100
			Series - 2016 3 (Class A10)
	6,325,206	g,i	Sequoia Mortgage Trust		3.500		02/25/47		6,350
			Series - 2017 2 (Class A4)
	10,122,474	g,i	Sequoia Mortgage Trust		3.500		04/25/47		10,180
			Series - 2017 3 (Class A4)
	4,109,907	g,i	Sequoia Mortgage Trust		3.500		08/25/47		4,114
			Series - 2017 5 (Class A4)
	10,640,764	g,h,i	Sequoia Mortgage Trust		3.500		03/25/48		10,577
			Series - 2018 3 (Class A1)
	8,185,561	g,i	Sequoia Mortgage Trust		3.500		05/25/48		8,214
			Series - 2018 5 (Class A4)
	4,426,146	g,i	Sequoia Mortgage Trust		4.000		06/25/48		4,476
			Series - 2018 CH2 (Class A21)
	5,731,119	g,i	Sequoia Mortgage Trust		4.000		07/25/48		5,815
			Series - 2018 6 (Class A4)
	1,317,364	g,i	Sequoia Mortgage Trust		4.000		11/25/48		1,324
			Series - 2018 8 (Class A19)
	2,415,722	g,i	Shellpoint Co-Originator Trust		3.500		11/25/46		2,409
			Series - 2016 1 (Class 1A10)

363

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	2,547,931	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.200%		4.686	%	09/25/24	$	2,597
			Series - 2014 HQ2 (Class M2)
	10,606,123		STACR	LIBOR 1 M + 1.950%		4.436		05/25/25		10,781
			Series - 2015 HQ2 (Class M2)
	6,400,000		STACR	LIBOR 1 M + 4.650%		7.136		10/25/28		7,143
			Series - 2016 DNA2 (Class M3)
	2,514,833		STACR	LIBOR 1 M + 1.300%		3.786		03/25/29		2,527
			Series - 2016 DNA4 (Class M2)
	7,635,338		STACR	LIBOR 1 M + 1.200%		3.686		07/25/29		7,668
			Series - 2017 DNA1 (Class M1)
	13,523,775		STACR	LIBOR 1 M + 1.200%		3.686		10/25/29		13,596
			Series - 2017 DNA2 (Class M1)
	37,051,368		STACR	LIBOR 1 M + 0.750%		3.236		03/25/30		37,028
			Series - 2017 DNA3 (Class M1)
	4,591,616		STACR			3.819		05/25/48		4,587
			Series - 2018 SPI2 (Class M1)
	7,872,707		STACR			4.167		08/25/48		7,928
			Series - 2018 SPI3 (Class M1)
	2,685,000	g	VNDO Mortgage Trust			3.808		12/13/29		2,720
			Series - 2013 PENN (Class A)
	300,000	g,i	VNDO Mortgage Trust			3.947		12/13/29		302
			Series - 2013 PENN (Class C)
	2,410,915	g	VSE VOI Mortgage LLC			2.540		07/20/33		2,384
			Series - 2016 A (Class A)
	1,848,927	g	VSE VOI Mortgage LLC			2.740		07/20/33		1,824
			Series - 2016 A (Class B)
	6,731,360	g	VSE VOI Mortgage LLC			2.330		03/20/35		6,611
			Series - 2017 A (Class A)
	1,895,260	i	Wachovia Bank Commercial Mortgage Trust			5.876		05/15/46		1,906
			Series - 2007 C34 (Class AJ)
	3,328,000	i	Wachovia Bank Commercial Mortgage Trust			5.951		05/15/46		3,351
			Series - 2007 C34 (Class B)
	2,595,000	i	Wachovia Bank Commercial Mortgage Trust			5.951		05/15/46		2,621
			Series - 2007 C34 (Class C)
	10,000,000		Wells Fargo Commercial Mortgage Trust			3.539		10/15/45		10,166
			Series - 2012 LC5 (Class AS)
	7,703,000		Wells Fargo Commercial Mortgage Trust			3.540		05/15/48		7,885
			Series - 2015 C28 (Class A4)
	10,000,000		Wells Fargo Commercial Mortgage Trust			2.788		07/15/48		9,939
			Series - 2016 C35 (Class ASB)
	557,724		Wells Fargo Commercial Mortgage Trust			1.321		08/15/49		548
			Series - 2016 BNK1 (Class A1)
	15,000,000		Wells Fargo Commercial Mortgage Trust			2.514		08/15/49		14,731
			Series - 2016 BNK1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust			2.825		10/15/49		14,923
			Series - 2016 LC24 (Class ASB)
	7,500,000		Wells Fargo Commercial Mortgage Trust			3.446		03/15/50		7,642
			Series - 2017 RB1 (Class ASB)
	3,950,000		Wells Fargo Commercial Mortgage Trust			2.978		04/15/50		3,964
			Series - 2015 LC20 (Class ASB)

364

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	15,000,000		Wells Fargo Commercial Mortgage Trust		3.261	%	07/15/50	$	15,146
			Series - 2017 C38 (Class ASB)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.212		09/15/50		10,066
			Series - 2017 C39 (Class ASB)
	6,500,000	i	Wells Fargo Commercial Mortgage Trust		3.767		07/15/58		6,749
			Series - 2015 NXS2 (Class A5)
	7,250,000		Wells Fargo Commercial Mortgage Trust		3.185		03/15/59		7,324
			Series - 2016 C33 (Class ASB)
	6,000,000		Wells Fargo Commercial Mortgage Trust		3.749		03/15/59		6,123
			Series - 2016 C33 (Class AS)
	650,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		648
			Series - 2016 C36 (Class ASB)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		4,867
			Series - 2010 C1 (Class B)
	30,000,000	g,i	WFRBS Commercial Mortgage Trust		4.902		06/15/44		31,056
			Series - 2011 C4 (Class A4)
	4,411,000	i	WFRBS Commercial Mortgage Trust		3.714		03/15/45		4,464
			Series - 2013 C11 (Class B)
	750,000		WFRBS Commercial Mortgage Trust		3.345		05/15/45		755
			Series - 2013 C13 (Class AS)
			TOTAL OTHER MORTGAGE BACKED						1,381,893
			TOTAL STRUCTURED ASSETS						2,614,930
			(Cost $2,622,183)
			TOTAL BONDS						13,112,039
			(Cost $13,008,549)
SHARES			COMPANY
COMMON STOCKS - 0.0%
TELECOMMUNICATION SERVICES - 0.0%
	147,623		Oi S.A. (ADR)						278
			TOTAL TELECOMMUNICATION SERVICES						278
			TOTAL COMMON STOCKS						278
			(Cost $1,332)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp						4,725
	1,527,061	*	Federal National Mortgage Association						15,774
			TOTAL BANKS						20,499
			TOTAL PREFERRED STOCKS						20,499
			(Cost $49,942)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 1.4%
GOVERNMENT AGENCY DEBT - 0.3%
$	43,270,000		Federal Home Loan Bank (FHLB)		2.250		04/01/19		43,270
			TOTAL GOVERNMENT AGENCY DEBT						43,270

365

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
TREASURY DEBT - 1.1%
EGP	14,700,000	j	Egypt Treasury Bill		0.000	%	06/11/19	$	822
	42,000,000	j	Egypt Treasury Bill		0.000		08/27/19		2,269
NGN	450,000,000	j	Nigeria OMO Bill		0.000		01/09/20		1,121
	585,000,000	j	Nigeria Treasury Bill		0.000		06/13/19		1,583
$	25,300,000		United States Treasury Bill		2.391		04/02/19		25,298
	8,000,000		United States Treasury Bill		2.419		04/04/19		7,999
	31,400,000		United States Treasury Bill		2.378		04/09/19		31,383
	31,740,000		United States Treasury Bill		2.373		04/16/19		31,708
	42,600,000		United States Treasury Bill		2.383-2.399		04/18/19		42,552
			TOTAL TREASURY DEBT						144,735
			TOTAL SHORT-TERM INVESTMENTS						188,005
			(Cost $187,867)
			TOTAL INVESTMENTS - 99.2%						13,369,318
			(Cost $13,297,367)
			OTHER ASSETS & LIABILITIES, NET - 0.8%						104,211
			NET ASSETS - 100.0%					$	13,473,529

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

366

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
‡	Perpetual security
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/19, the aggregate value of these securities was $2,562,456,620 or 19.0% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
j	Zero coupon
o	Payment in Kind Bond
	Cost amounts are in thousands.

Forward foreign currency contracts outstanding as of March 31, 2019 were as follows (dollar amounts are in thousands):

Currency to be purchased	Receive		Currency to be sold	Deliver		Counterparty	Settlement date	Unrealized appreciation (depreciation)
$		280	CAD		374	Australia & New Zealand Banking Group	04/30/19	$	(0	)^
$		107	EUR		94	Australia & New Zealand Banking Group	04/30/19		1
$		394	EUR		350	Australia & New Zealand Banking Group	04/30/19		0	^
$		692	EUR		610	Australia & New Zealand Banking Group	04/30/19		6
$		213	EUR		188	Australia & New Zealand Banking Group	04/30/19		2
$		1,202	EUR		1,052	Australia & New Zealand Banking Group	04/30/19		19
$		708	EUR		623	Australia & New Zealand Banking Group	04/30/19		8
$		1,180	EUR		1,032	Australia & New Zealand Banking Group	04/30/19		19
$		3,439	JPY		378,000	Australia & New Zealand Banking Group	04/26/19		21
$		565	JPY		62,573	Australia & New Zealand Banking Group	04/26/19		(0	)^
$		743	NZD		1,083	Australia & New Zealand Banking Group	04/30/19		5
$		114	NZD		167	Australia & New Zealand Banking Group	04/30/19		(0	)^
$		3,407	THB		108,532	Australia & New Zealand Banking Group	04/30/19		(15	)
CAD		2,039	$		1,535	Australia & New Zealand Banking Group	04/30/19		(8	)
Total								$	58
$		428	CAD		567	Bank of America	04/30/19		4
$		34,448	JPY		3,737,028	Bank of America	04/26/19	$	650
$		2,232	ILS		8,094	Bank of America	04/30/19		(1	)
$		1,582	NOK		13,414	Bank of America	04/30/19		25
$		2,577	SEK		23,171	Bank of America	04/30/19		79
Total								$	757

367

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

Currency to be purchased	Receive		Currency to be sold	Deliver		Counterparty	Settlement date	Unrealized appreciation (depreciation)
$		3,008	PLN		11,464	Citibank N.A.	04/30/19	$	19
$		2,630	SGD		3,563	Citibank N.A.	04/30/19		0	^
JPY		756,000	$		6,881	Citibank N.A.	04/26/19		(43	)
EUR		720	$		819	Citibank N.A.	04/30/19		(9	)
EUR		1,083	$		1,218	Citibank N.A.	04/30/19		(0	)^
EUR		834	$		955	Citibank N.A.	04/30/19		(17	)
$		473	ZAR		6,933	Citibank N.A.	04/30/19		(6	)
Total								$	(56	)
$		6,986	AUD		9,728	Morgan Stanley	04/30/19	$	75
$		205	AUD		289	Morgan Stanley	04/30/19		(0	)^
$		941	EUR		817	Morgan Stanley	04/30/19		22
$		82,060	EUR		71,209	Morgan Stanley	04/30/19		1,978
$		10,558	KRW		11,972,459	Morgan Stanley	04/30/19		24
$		1,389	NZD		2,029	Morgan Stanley	04/30/19		6
$		92	SEK		849	Morgan Stanley	04/30/19		0	^
Total								$	2,105
$		9,566	CAD		12,657	Toronto Dominion Bank	04/30/19	$	88
$		1,126	EUR		983	Toronto Dominion Bank	04/30/19		21
$		438	GBP		335	Toronto Dominion Bank	04/30/19		0	^
$		18,527	GBP		14,014	Toronto Dominion Bank	04/30/19		247
$		35	NOK		305	Toronto Dominion Bank	04/30/19		0	^
Total								$	356
Total								$	3,220

^ Amount represents less than $1,000.

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

Bilateral credit default swap contracts outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):

PURCHASED

Reference entity	Terms of payments to be paid	Terms of payments to be received	Counterparty	Maturity date	Notional amount(1)	Value	Upfront premiums paid (received)	Unrealized appreciation (depreciation)
CDX-EMS31-V1-5 Year Index	1.000%	Credit event as specified in contract	Citibank, N.A.	06/20/24	$  20,000	$  747	$  659	$  88

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

368

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND
INFLATION-LINKED BOND ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
March 31, 2019

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
GOVERNMENT BONDS - 99.4%
AGENCY SECURITIES - 0.7%
$	4,287,500		Crowley Conro LLC		4.181	%	08/15/43	$	4,583
	15,815,000		Montefiore Medical Center		2.895		04/20/32		15,613
	3,500,000		Private Export Funding Corp (PEFCO)		2.300		09/15/20		3,496
	3,000,000		PEFCO		3.250		06/15/25		3,099
	4,605,263		Reliance Industries Ltd		2.444		01/15/26		4,585
	3,500,000		Ukraine Government AID Bonds		1.847		05/29/20		3,486
	15,000,000		Ukraine Government AID International Bonds		1.471		09/29/21		14,697
			TOTAL AGENCY SECURITIES						49,559
MORTGAGE BACKED - 0.7%
	24,479,856		Government National Mortgage Association (GNMA)		3.600		09/15/31		24,902
	12,068,805		GNMA		3.650		02/15/32		12,286
	2,577,603		GNMA		3.380		07/15/35		2,581
	3,293,101		GNMA		3.870		10/15/36		3,396
			TOTAL MORTGAGE BACKED						43,165
U.S. TREASURY SECURITIES - 98.0%
	289,120,600	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/20		287,773
	214,239,296	k	United States Treasury Inflation Indexed Bonds		1.250		07/15/20		217,409
	254,213,564	k	United States Treasury Inflation Indexed Bonds		1.125		01/15/21		257,479
	337,709,640	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/21		335,078
	330,334,650	k	United States Treasury Inflation Indexed Bonds		0.625		07/15/21		333,307
	351,385,559	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/22		348,636
	273,746,920	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/22		270,971
	336,014,570	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/22		334,315
	326,041,560	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/23		322,427
	235,087,920	k	United States Treasury Inflation Indexed Bonds		0.625		04/15/23		236,802
	231,992,475	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/23		232,644
	150,210,368	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		151,701
	136,212,570	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		134,555
	173,215,210	k	United States Treasury Inflation Indexed Bonds		0.250		01/15/25		171,438
	263,397,333	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/25		292,592
	114,627,960	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/25		114,581
	155,714,160	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/26		157,534
	210,289,316	k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		232,054
	134,405,120	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/26		131,516
	208,914,985	k	United States Treasury Inflation Indexed Bonds		0.375		01/15/27		207,138
	120,067,220	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/27		137,324
	118,842,570	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/27		117,999
	209,692,200	k	United States Treasury Inflation Indexed Bonds		0.500		01/15/28		209,316
	207,128,256	k	United States Treasury Inflation Indexed Bonds		1.750		01/15/28		228,852
	110,527,685	k	United States Treasury Inflation Indexed Bonds		3.625		04/15/28		140,362

369

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	110,298,100	k	United States Treasury Inflation Indexed Bonds		0.750	%	07/15/28	$	112,814
	141,547,020	k	United States Treasury Inflation Indexed Bonds		0.875		01/15/29		146,176
	138,216,528	k	United States Treasury Inflation Indexed Bonds		2.500		01/15/29		163,884
	191,520,295	k	United States Treasury Inflation Indexed Bonds		3.875		04/15/29		253,107
	24,815,175	k	United States Treasury Inflation Indexed Bonds		3.375		04/15/32		33,452
	7,500,000		United States Treasury Note		2.500		02/15/22		7,557
	15,000,000		United States Treasury Note		2.625		02/15/29		15,292
			TOTAL U.S. TREASURY SECURITIES						6,336,085
			TOTAL GOVERNMENT BONDS						6,428,809
			(Cost $6,253,963)
SHORT-TERM INVESTMENTS - 0.4%
GOVERNMENT AGENCY DEBT - 0.4%
	23,100,000		Federal Home Loan Bank (FHLB)		2.250		04/01/19		23,100
			TOTAL GOVERNMENT AGENCY DEBT						23,100
			TOTAL SHORT-TERM INVESTMENTS						23,100
			(Cost $23,100)
			TOTAL INVESTMENTS - 99.8%						6,451,909
			(Cost $6,277,063)
			OTHER ASSETS & LIABILITIES, NET - 0.2%						10,377
			NET ASSETS - 100.0%					$	6,462,286

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

Futures contracts outstanding as of March 31, 2019 were as follows (notional amounts and values are in thousands):

Description	Number of long (short) contracts	Expiration date	Notional amount	Value	Unrealized appreciation (depreciation)
US 10 Year Note (CBT)	(100)	06/19/19	$(12,236)	$(12,422)	$(186)

370

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2019

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.1%
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
$	5,198,875	i	United Rentals North America, Inc	LIBOR  1 M + 1.750%		4.250	%	10/31/25	$	5,174
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							5,174
ENERGY - 0.0%
	3,879,031	i	TerraForm Power Operating LLC	LIBOR  1 M + 2.000%		4.500		11/08/22		3,777
			TOTAL ENERGY							3,777
MATERIALS - 0.0%
	3,006,805	i	H.B. Fuller Co	LIBOR  1 M + 2.000%		4.490		10/21/24		2,949
			TOTAL MATERIALS							2,949
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	8,484,043	i	MTS Systems Corp	LIBOR  1 M + 3.250%		5.740		07/05/23		8,399
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							8,399
UTILITIES - 0.1%
	5,001,566	i	ExGen Renewables IV LLC	LIBOR  3 M + 3.000%		5.630		11/28/24		4,676
	13,476,818	†,i	Terra-Gen Finance Co LLC	LIBOR  1 M + 4.250%		6.749		12/09/21		12,062
			TOTAL UTILITIES							16,738
			TOTAL BANK LOAN OBLIGATIONS							37,037
			(Cost $38,942)
BONDS - 39.0%
CORPORATE BONDS - 13.8%
AUTOMOBILES & COMPONENTS - 0.2%
	6,675,000		Aptiv plc			5.400		03/15/49		6,899
	13,000,000	g	Harley-Davidson Financial Services, Inc			4.050		02/04/22		13,147
	10,675,000		Magna International, Inc			3.625		06/15/24		10,865
			TOTAL AUTOMOBILES & COMPONENTS							30,911
BANKS - 2.8%
	21,500,000	e,g	Bank of Montreal			2.500		01/11/22		21,391
	18,500,000	e	Bank of Nova Scotia			2.125		09/11/19		18,457
	12,000,000	e,g	Bank of Nova Scotia			1.875		09/20/21		11,779
	12,000,000		BB&T Corp			3.875		03/19/29		12,134
	8,000,000	e,g	BNG Bank NV			3.125		11/08/21		8,148
	12,400,000	g	BNG Bank NV			2.625		02/27/24		12,515
	3,800,000		Citizens Bank NA			3.750		02/18/26		3,873
	1,350,000		Citizens Financial Group, Inc			2.375		07/28/21		1,332
	7,025,000		Cooperatieve Centrale Raiffeisen-Boerenleenbank BA			3.950		11/09/22		7,156

371

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	4,950,000		Cooperatieve Rabobank UA			3.750	%	07/21/26	$	4,886
	9,400,000		Discover Bank			3.450		07/27/26		9,111
	9,300,000		Discover Bank			4.650		09/13/28		9,743
	5,000,000	g	DNB Boligkreditt AS.			2.000		05/28/20		4,965
	9,400,000		Fifth Third Bancorp			3.650		01/25/24		9,632
	13,400,000		HSBC Holdings plc			3.033		11/22/23		13,335
	14,376,000	g	ING Groep NV			4.625		01/06/26		15,091
	11,500,000	g	Intesa Sanpaolo S.p.A			5.017		06/26/24		11,119
	10,000,000	g	Intesa Sanpaolo S.p.A			5.710		01/15/26		9,768
	8,000,000	i	KeyBank NA	LIBOR 3 M + 0.660%		3.396		02/01/22		8,030
	14,500,000		KeyCorp			4.100		04/30/28		15,111
	11,250,000	i	M&T Bank Corp	LIBOR 3 M + 0.680%		3.445		07/26/23		11,235
	9,076,000	i	Manufacturers & Traders Trust Co	LIBOR 3 M + 0.640%		3.266		12/01/21		9,031
	1,605,000		Manufacturers & Traders Trust Co			2.900		02/06/25		1,604
	3,425,000		Manufacturers & Traders Trust Co			3.400		08/17/27		3,501
	18,775,000		Mitsubishi UFJ Financial Group, Inc			2.527		09/13/23		18,366
	10,250,000		People’s United Bank NA			4.000		07/15/24		10,356
	24,878,000		People’s United Financial, Inc			3.650		12/06/22		25,070
	8,245,000		PNC Bank NA			2.950		01/30/23		8,218
	13,500,000	i	Regions Bank	LIBOR 3 M + 0.380%		2.972		04/01/21		13,417
	6,600,000	i	Regions Bank	LIBOR 3 M + 0.500%		3.188		08/13/21		6,566
	10,000,000		Regions Financial Corp			2.750		08/14/22		9,926
	12,000,000		Royal Bank of Canada			2.100		10/14/20		11,916
	17,785,000		SVB Financial Group			3.500		01/29/25		17,578
	5,000,000	e	Toronto-Dominion Bank			1.800		07/13/21		4,899
	14,000,000		US Bancorp			2.950		07/15/22		14,050
	19,000	g	Westpac Banking Corp			2.100		02/25/21		19
	4,350,000		Zions Bancorp NA			3.500		08/27/21		4,396
	4,400,000		Zions Bancorp NA			3.350		03/04/22		4,438
			TOTAL BANKS							382,162
CAPITAL GOODS - 0.4%
	6,525,000		Air Lease Corp			4.250		09/15/24		6,710
	1,975,000		Anixter, Inc			5.125		10/01/21		2,034
	6,250,000		CNH Industrial Capital LLC			3.875		10/15/21		6,316
	4,800,000		CNH Industrial Capital LLC			4.200		01/15/24		4,929
	4,000,000		Ingersoll-Rand Luxembourg Finance S.A.			3.550		11/01/24		4,085
	3,175,000		Ingersoll-Rand Luxembourg Finance S.A.			3.500		03/21/26		3,204
	8,975,000		Ingersoll-Rand Luxembourg Finance S.A.			3.800		03/21/29		9,111
	5,625,000		Parker-Hannifin Corp			4.200		11/21/34		5,925
	3,300,000		Rockwell Collins, Inc			3.100		11/15/21		3,306
	725,000		Trimble, Inc			4.150		06/15/23		738
	6,050,000		Trimble, Inc			4.900		06/15/28		6,187
			TOTAL CAPITAL GOODS							52,545
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	11,250,000		Covanta Holding Corp			6.000		01/01/27		11,222
	3,475,000		Waste Management, Inc			3.900		03/01/35		3,487
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							14,709
CONSUMER DURABLES & APPAREL - 0.0%
	6,950,000		Leggett & Platt, Inc			4.400		03/15/29		7,019
			TOTAL CONSUMER DURABLES & APPAREL							7,019

372

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
CONSUMER SERVICES - 0.6%
$	10,000,000		Henry J Kaiser Family Foundation			3.356	%	12/01/25	$	10,164
	3,440,000	i	Nature Conservancy	LIBOR 3 M + 1.080%		3.736		02/01/24		3,437
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations			4.305		07/01/45		18,044
	5,145,000		Salvation Army			5.637		09/01/26		5,753
	20,000,000		Salvation Army			4.528		09/01/48		20,319
	9,800,000		Starbucks Corp			2.450		06/15/26		9,283
	11,065,000		YMCA of Greater New York			5.151		08/01/48		12,037
			TOTAL CONSUMER SERVICES							79,037
DIVERSIFIED FINANCIALS - 0.8%
	11,500,000		Century Housing Corp			3.995		11/01/21		11,537
	2,169,000		Discover Financial Services			3.850		11/21/22		2,225
	9,500,000	e,g	EDP Finance BV			5.250		01/14/21		9,804
	11,625,000	g	EDP Finance BV			3.625		07/15/24		11,538
	4,750,000		Enterprise Community Loan Fund, Inc			4.152		11/01/28		4,800
	9,500,000		Ford Foundation			3.859		06/01/47		9,625
	2,300,000		Legg Mason, Inc			3.950		07/15/24		2,328
	2,214,000		Northern Trust Corp			3.375		08/23/21		2,256
	680,000		Reinvestment Fund, Inc			3.377		02/15/22		685
	1,535,000		Reinvestment Fund, Inc			3.166		11/01/23		1,527
	3,000,000		Reinvestment Fund, Inc			3.600		02/15/24		3,024
	10,250,000		Reinvestment Fund, Inc			3.366		11/01/24		10,195
	2,570,000		Reinvestment Fund, Inc			3.513		11/01/25		2,549
	15,240,000		Reinvestment Fund, Inc			3.880		02/15/27		15,426
	10,435,000		Reinvestment Fund, Inc			3.930		02/15/28		10,575
	5,300,000	g	Swiss Re Finance Luxembourg SA			5.000		04/02/49		5,370
	11,075,000		Unilever Capital Corp			2.000		07/28/26		10,334
			TOTAL DIVERSIFIED FINANCIALS							113,798
ENERGY - 1.3%
	3,281,000	e	Apache Corp			3.250		04/15/22		3,285
	14,500,000		Cenovus Energy, Inc			5.250		06/15/37		14,406
	3,175,000	e	Cimarex Energy Co			3.900		05/15/27		3,169
	7,550,000	g	Colorado Interstate Gas Co LLC			4.150		08/15/26		7,680
	7,229,476	g	Continental Wind LLC			6.000		02/28/33		8,004
	4,450,000		EOG Resources, Inc			5.100		01/15/36		5,065
	11,050,000	g	Greenko Dutch BV			4.875		07/24/22		10,877
	15,000,000		Kinder Morgan, Inc			3.150		01/15/23		15,035
	17,292,000		National Oilwell Varco, Inc			3.950		12/01/42		14,622
	3,290,000		Noble Energy, Inc			5.050		11/15/44		3,274
	1,400,000		ONE Gas, Inc			4.500		11/01/48		1,548
	3,875,000		ONEOK, Inc			4.000		07/13/27		3,886
	6,200,000		ONEOK, Inc			4.950		07/13/47		6,122
	9,000,000		Phillips 66			4.650		11/15/34		9,677
	9,500,000		Statoil ASA			3.150		01/23/22		9,683
	4,500,000		Statoil ASA			2.650		01/15/24		4,482
	5,932,000		Statoil ASA			3.950		05/15/43		6,103
	625,000	g	Targa Resources Partners LP			6.500		07/15/27		674
	20,000,000	g	TerraForm Power Operating LLC			5.000		01/31/28		19,300
	5,000,000	g	Texas Eastern Transmission LP			4.125		12/01/20		5,086

373

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	7,150,000		Total Capital International S.A.			3.455	%	02/19/29	$	7,328
	8,700,000		Valero Energy Corp			4.350		06/01/28		9,041
	10,050,000	g	Woodside Finance Ltd			3.700		03/15/28		9,699
			TOTAL ENERGY							178,046
HEALTH CARE EQUIPMENT & SERVICES - 0.3%
	7,500,000	i	Becton Dickinson & Co	LIBOR 3 M + 1.030%		3.638		06/06/22		7,520
	2,750,000		Becton Dickinson & Co			3.363		06/06/24		2,753
	4,500,000		Becton Dickinson and Co			4.685		12/15/44		4,651
	15,000,000	g,i	Halfmoon Parent, Inc	LIBOR 3 M + 0.890%		3.677		07/15/23		14,927
	5,500,000	g	Halfmoon Parent, Inc			4.800		08/15/38		5,653
	9,000,000		Laboratory Corp of America Holdings			3.200		02/01/22		9,068
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							44,572
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	2,700,000		Kimberly-Clark Corp			3.950		11/01/28		2,893
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							2,893
INSURANCE - 0.4%
	3,000,000	g,i	Cranberry RE Ltd	LIBOR 6 M + 1.600%		4.279		07/13/20		2,964
	15,000,000		Prudential Financial, Inc			5.200		03/15/44		15,162
	7,450,000		Prudential Financial, Inc			5.375		05/15/45		7,535
	18,222,000	g	Swiss Re Treasury US Corp			2.875		12/06/22		18,179
	14,024,000	g	Swiss Re Treasury US Corp			4.250		12/06/42		14,449
			TOTAL INSURANCE							58,289
MATERIALS - 0.9%
	2,275,000		Ball Corp			5.000		03/15/22		2,360
	8,930,000		Ball Corp			4.000		11/15/23		8,997
	4,800,000		Commercial Metals Co			5.750		04/15/26		4,788
	20,000,000	e	Fibria Overseas Finance Ltd			5.500		01/17/27		20,895
	7,500,000		International Paper Co			5.000		09/15/35		7,853
	5,000,000		International Paper Co			6.000		11/15/41		5,595
	4,600,000		International Paper Co			4.800		06/15/44		4,559
	17,000,000	g	Inversiones CMPC S.A.			4.375		04/04/27		17,092
	14,250,000	g	Klabin Austria GmbH			7.000		04/03/49		14,200
	8,125,000	g	Klabin Finance S.A.			4.875		09/19/27		7,881
	2,500,000	g	Sealed Air Corp			5.500		09/15/25		2,632
	6,850,000		WRKCo, Inc			3.000		09/15/24		6,698
	7,450,000		WRKCo, Inc			3.750		03/15/25		7,521
	9,600,000		WRKCo, Inc			4.650		03/15/26		10,191
			TOTAL MATERIALS							121,262
MEDIA & ENTERTAINMENT - 0.1%
	3,625,000		Discovery Communications LLC			5.000		09/20/37		3,529
	5,500,000		Time Warner Cable, Inc			4.500		09/15/42		4,825
			TOTAL MEDIA & ENTERTAINMENT							8,354
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.4%
	4,000,000	i	GlaxoSmithKline Capital plc	LIBOR 3 M + 0.350%		3.043		05/14/21		4,010
	8,650,000		GlaxoSmithKline Capital plc			3.625		05/15/25		8,954
	11,500,000		Merck & Co, Inc			3.900		03/07/39		11,857
	9,550,000	g	Takeda Pharmaceutical Co Ltd			4.400		11/26/23		10,040

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	3,300,000		Zoetis, Inc			3.450	%	11/13/20	$	3,331
	7,200,000	i	Zoetis, Inc	LIBOR 3 M + 0.440%		3.084		08/20/21		7,149
	4,525,000		Zoetis, Inc			4.450		08/20/48		4,698
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							50,039
REAL ESTATE - 0.6%
	8,500,000		Alexandria Real Estate Equities, Inc			4.000		01/15/24		8,796
	1,975,000		Brandywine Operating Partnership LP			3.950		02/15/23		2,019
	4,300,000		Brandywine Operating Partnership LP			3.950		11/15/27		4,280
	8,775,000		Brixmor Operating Partnership LP			3.900		03/15/27		8,626
	5,113,000		Digital Realty Trust LP			3.950		07/01/22		5,248
	3,500,000	e	Federal Realty Investment Trust			2.750		06/01/23		3,453
	4,475,000		Hudson Pacific Properties LP			4.650		04/01/29		4,563
	11,075,000		Kilroy Realty LP			3.450		12/15/24		10,977
	11,150,000		Kilroy Realty LP			4.750		12/15/28		11,870
	16,822,000		Regency Centers LP			3.750		06/15/24		17,102
			TOTAL REAL ESTATE							76,934
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1%
	16,025,000		Texas Instruments, Inc			3.875		03/15/39		16,622
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							16,622
TECHNOLOGY HARDWARE & EQUIPMENT - 0.2%
	14,250,000		Apple, Inc			3.000		06/20/27		14,200
	10,200,000		Corning, Inc			4.375		11/15/57		9,505
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							23,705
TELECOMMUNICATION SERVICES - 0.4%
	3,400,000	e	CenturyLink, Inc			6.750		12/01/23		3,549
	11,000,000		Telefonica Emisiones SAU			5.520		03/01/49		11,529
	18,500,000	i	Verizon Communications, Inc	LIBOR 3 M + 1.100%		3.784		05/15/25		18,502
	11,750,000		Verizon Communications, Inc			2.625		08/15/26		11,214
	5,150,000		Verizon Communications, Inc			4.272		01/15/36		5,216
			TOTAL TELECOMMUNICATION SERVICES							50,010
TRANSPORTATION - 0.8%
	2,050,000		CSX Corp			4.250		03/15/29		2,179
	5,650,000		CSX Corp			4.750		11/15/48		6,139
	6,775,000		CSX Corp			4.250		11/01/66		6,328
	7,150,000		Delta Air Lines, Inc			3.625		03/15/22		7,199
	1,917,386		Delta Air Lines, Inc			4.250		07/30/23		1,971
	7,150,000		Delta Air Lines, Inc			3.204		04/25/24		7,251
	5,028,547		Delta Air Lines, Inc			3.625		07/30/27		5,134
	4,000,000		Kansas City Southern			3.000		05/15/23		4,007
	7,000,000		Kansas City Southern			4.300		05/15/43		6,845
	15,925,000		Kansas City Southern			4.950		08/15/45		17,151
	475,000		Norfolk Southern Corp			5.590		05/17/25		535
	13,000,000		Union Pacific Corp			4.375		09/10/38		13,561
	4,812,205		Union Pacific Railroad Co			3.227		05/14/26		4,815
	15,921,648		Union Pacific Railroad Co			2.695		05/12/27		15,620
	1,360,000		United Parcel Service of America, Inc (Step Bond)			8.375		04/01/30		1,843
	10,000,000		United Parcel Service, Inc			4.250		03/15/49		10,417
			TOTAL TRANSPORTATION							110,995

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
UTILITIES - 3.4%
$	13,155,000		Avangrid, Inc		3.150	%	12/01/24	$	13,011
	20,275,000		Avista Corp		4.350		06/01/48		21,530
	700,000	g	Azure Power Energy Ltd		5.500		11/03/22		688
	16,500,000	g	Brooklyn Union Gas Co		4.273		03/15/48		17,067
	13,500,000	g	Brooklyn Union Gas Co		4.487		03/04/49		14,553
	3,000,000	g	Clearway Energy Operating LLC		5.750		10/15/25		3,011
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,361
	22,500,000	g	Electricite de France S.A.		3.625		10/13/25		22,974
	6,150,000		Fortis, Inc		2.100		10/04/21		6,017
	10,750,000		Fortis, Inc		3.055		10/04/26		10,290
	13,750,000		Georgia Power Co		3.250		04/01/26		13,473
	2,745,000		International Transmission Co		4.625		08/15/43		2,946
	6,575,000		Interstate Power & Light Co		3.250		12/01/24		6,611
	3,000,000		Interstate Power & Light Co		4.100		09/26/28		3,139
	24,325,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		25,066
	4,000,000		MidAmerican Energy Co		3.100		05/01/27		4,025
	3,100,000		MidAmerican Energy Co		3.650		04/15/29		3,229
	6,100,000		MidAmerican Energy Co		4.250		07/15/49		6,495
	9,250,000	g	Narragansett Electric Co		4.170		12/10/42		9,279
	2,050,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		2,035
	3,875,000	g	NextEra Energy Operating Partners LP		4.500		09/15/27		3,778
	9,732,000	g	Niagara Mohawk Power Corp		4.278		10/01/34		10,315
	9,750,000	g	Niagara Mohawk Power Corp		4.119		11/28/42		9,605
	1,500,000		Northwest Natural Gas Co		5.620		11/21/23		1,680
	9,350,000		NorthWestern Corp		4.176		11/15/44		9,549
	18,900,000	g	Pattern Energy Group, Inc		5.875		02/01/24		19,231
	13,050,000		PSEG Power LLC		3.850		06/01/23		13,376
	630,000		Public Service Co of Colorado		4.750		08/15/41		690
	7,625,000		Public Service Co of Colorado		4.100		06/15/48		8,042
	5,500,000		San Diego Gas & Electric Co		3.000		08/15/21		5,529
	5,732,204		San Diego Gas & Electric Co		1.914		02/01/22		5,592
	24,491,901	g	Solar Star Funding LLC		3.950		06/30/35		23,792
	23,209,956	g	Solar Star Funding LLC		5.375		06/30/35		24,875
	2,000,000		Southern California Edison Co		2.400		02/01/22		1,941
	6,000,000		Southern California Edison Co		3.400		06/01/23		5,956
	4,700,000		Southern California Edison Co		4.125		03/01/48		4,505
	8,300,000		Southern Power Co		2.500		12/15/21		8,211
	25,000,000		Southern Power Co		4.150		12/01/25		25,895
	30,571,300	g	Star Energy Geothermal Wayang Windu Ltd		6.750		04/24/33		30,636
	12,400,000		Tampa Electric Co		4.300		06/15/48		12,482
	22,235,057	g	Topaz Solar Farms LLC		4.875		09/30/39		21,770
	12,246,265	g	Topaz Solar Farms LLC		5.750		09/30/39		12,684
	19,650,000		Westar Energy, Inc		2.550		07/01/26		18,851
			TOTAL UTILITIES						466,785
			TOTAL CORPORATE BONDS						1,888,687
			(Cost $1,865,969)

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
GOVERNMENT BONDS -  21.0%
AGENCY SECURITIES - 3.4%
$	4,849,000		Canal Barge Co, Inc			4.500	%	11/12/34	$	5,236
	3,852,440		CES MU2 LLC			1.994		05/13/27		3,766
	6,233,333		DY9 Leasing LLC			2.415		06/30/27		6,190
	9,385,245		Ethiopian Leasing LLC			2.566		08/14/26		9,375
	2,730,887		Export Lease Ten Co LLC			1.650		05/07/25		2,651
	3,654,434		Export Leasing LLC			1.859		08/28/21		3,616
	2,290,826	g	Genesis Solar Pass Through Trust			3.875		02/15/38		2,319
	1,096,000	j	Government Trust Certificate			0.000		04/01/19		1,096
	5,000,000	j	Government Trust Certificate			0.000		04/01/21		4,759
	5,950,000		Hashemite Kingdom of Jordan Government AID Bond			3.000		06/30/25		6,113
	4,550,000	g	Hospital for Special Surgery			3.500		01/01/23		4,672
	6,000,000	i	India Government AID Bond	LIBOR 3 M + 0.100%		2.836		02/01/27		5,809
	45,500,000		Iraq Government AID International Bond			2.149		01/18/22		45,231
	4,130,000		Lutheran Medical Center			1.982		02/20/30		3,905
	6,000,000		Mexican Aircraft Finance V LLC			2.329		01/14/27		5,946
	5,040,000		Montefiore Medical Center			2.152		10/20/26		4,938
	2,965,000	g	Montefiore Medical Center			3.896		05/20/27		3,064
	19,545,000		Montefiore Medical Center			2.895		04/20/32		19,295
	7,000,000	†	NCUA Guaranteed Notes			3.450		06/12/21		7,116
	15,555,000		New York Society for the Relief of the Ruptured & Crippled			2.881		12/20/31		15,535
	3,150,000	j	Overseas Private Investment Corp (OPIC)			0.000		09/30/19		3,226
	2,400,000	j	OPIC			0.000		11/15/19		2,430
	4,363,082	j	OPIC			0.000		11/15/19		4,798
	3,050,000	j	OPIC			0.000		01/26/21		3,125
	3,000,000	j	OPIC			0.000		01/26/21		3,066
	12,226,000	j	OPIC			0.000		07/17/21		12,404
	3,131,858		OPIC			2.290		09/15/26		3,106
	1,630,452		OPIC			2.040		12/15/26		1,608
	9,287,445		OPIC			2.740		09/15/29		9,261
	14,288,377		OPIC			3.220		09/15/29		14,631
	12,859,539		OPIC			3.280		09/15/29		13,210
	2,421,331		OPIC			2.610		04/15/30		2,397
	3,534,000		OPIC			2.930		05/15/30		3,560
	5,840,400		OPIC			3.040		05/15/30		5,919
	6,617,722		OPIC			3.540		06/15/30		6,920
	17,186,565		OPIC			3.370		12/15/30		17,813
	7,473,214		OPIC			3.520		09/20/32		7,807
	19,473,657		OPIC			3.820		12/20/32		20,680
	12,563,650		OPIC			3.938		12/20/32		13,444
	11,272,070		OPIC			3.160		06/01/33		11,458
	10,821,188		OPIC			3.430		06/01/33		11,227
	1,120,729		OPIC			2.810		07/31/33		1,110
	1,793,167		OPIC			2.940		07/31/33		1,792
	4,054,619		Penta Aircraft Leasing LLC			1.691		04/29/25		3,930
	3,636,361	i	Pluto Aircraft Leasing LLC	LIBOR 3 M + 0.210%		2.949		02/07/23		3,634
	8,000,000		Private Export Funding Corp (PEFCO)			2.300		09/15/20		7,992
	7,500,000	g	PEFCO			3.266		11/08/21		7,641
	17,500,000		PEFCO			4.300		12/15/21		18,297
	4,250,000		PEFCO			2.050		11/15/22		4,193
	4,000,000		PEFCO			3.550		01/15/24		4,193
	8,000,000		PEFCO			3.250		06/15/25		8,265
	4,134,657		Safina Ltd			1.550		01/15/22		4,064
	6,534,299		Sandalwood 2013 LLC			2.836		07/10/25		6,585

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	1,417,238		Tayarra Ltd			3.628	%	02/15/22	$	1,435
	1,331,153		Tricahue Leasing LLC			3.503		11/19/21		1,345
	15,300,000		Ukraine Government AID Bonds			1.847		05/29/20		15,237
	23,945,000		Ukraine Government AID International Bonds			1.471		09/29/21		23,461
	7,500,001		Ulani MSN 37894			2.184		12/20/24		7,411
	2,630,844		Union 16 Leasing LLC			1.863		01/22/25		2,574
	6,980,000		UNM Sandoval Regional Medical Center			4.500		07/20/36		7,154
	750,000		US Department of Housing and Urban Development (HUD)			2.050		08/01/19		749
	2,196,000		HUD			4.870		08/01/19		2,214
	2,632,000		HUD			4.960		08/01/20		2,656
	2,310,000		HUD			5.050		08/01/21		2,330
	3,217,000		HUD			2.910		08/01/23		3,244
	4,000,000		HUD			2.860		08/01/26		4,016
			TOTAL AGENCY SECURITIES							478,244
FOREIGN GOVERNMENT BONDS - 3.9%
	13,550,000		African Development Bank			2.375		09/23/21		13,562
	9,500,000		Asian Development Bank			2.125		03/19/25		9,350
	14,000,000		Asian Development Bank			3.125		09/26/28		14,674
	17,000,000	g	Bank Nederlandse Gemeenten NV			2.125		12/14/20		16,913
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale			2.000		04/17/20		5,972
	4,849,452	g	Carpintero Finance Ltd			2.004		09/18/24		4,766
	4,900,000	g	CDP Financial, Inc			2.750		03/07/22		4,931
	5,000,000	g	CPPIB Capital, Inc			2.750		11/02/27		4,998
	2,000,000		European Investment Bank			2.000		03/15/21		1,985
	20,750,000	e	European Investment Bank			2.125		04/13/26		20,344
	3,750,000	e	European Investment Bank			2.375		05/24/27		3,719
	2,000,000		European Investment Bank			4.875		02/15/36		2,533
	12,000,000	e	Export Development Canada			1.375		10/21/21		11,709
	12,500,000		Export Development Canada			2.625		02/21/24		12,651
	15,000,000	g	Finnvera Oyj			2.375		06/04/25		14,786
	6,082,000		Hydro Quebec			8.400		01/15/22		6,992
	20,000,000	i	Inter-American Development Bank	LIBOR 3 M + 0.010%		2.797		01/15/22		19,986
	19,250,000	e	International Bank for Reconstruction & Development			3.125		11/20/25		20,049
	27,900,000	g	International Development Association			2.750		04/24/23		28,325
	46,500,000		International Finance Corp			1.546		11/04/21		45,305
	41,500,000		International Finance Corp			2.125		04/07/26		40,653
	5,000,000		Japan Bank for International Cooperation			1.875		04/20/21		4,937
	9,000,000	g	Japan Finance Organization for Municipalities			2.125		04/13/21		8,902
	3,350,000	g	Japan Finance Organization for Municipalities			3.375		09/27/23		3,440
	12,500,000	e,g	Kommunalbanken AS.			2.125		02/11/25		12,243
	18,500,000	i	Korea Development Bank International Bond	LIBOR 3 M + 0.725%		3.520		07/06/22		18,574
	3,000,000	e	Kreditanstalt fuer Wiederaufbau			1.875		11/30/20		2,976
	16,750,000	e	Kreditanstalt fuer Wiederaufbau			2.000		11/30/21		16,616
	10,000,000	e	Kreditanstalt fuer Wiederaufbau			2.625		01/25/22		10,083
	3,000,000	g	Nacional Financiera SNC			3.375		11/05/20		3,000
	15,000,000	g	Nederlandse Waterschapsbank NV			3.125		12/05/22		15,381
	25,000,000	e,g	Nederlandse Waterschapsbank NV			2.375		03/24/26		24,678
	3,725,000		North American Development Bank			4.375		02/11/20		3,777
	22,800,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		22,982

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	10,500,000	e,g	Perusahaan Penerbit SBSN Indonesia III			3.900	%	08/20/24	$	10,633
	15,000,000		Province of Manitoba Canada			2.100		09/06/22		14,786
	12,700,000		Province of Manitoba Canada			3.050		05/14/24		12,975
	5,000,000		Province of Ontario Canada			4.400		04/14/20		5,093
	12,500,000	e	Province of Ontario Canada			3.050		01/29/24		12,779
	10,000,000		Province of Quebec Canada			3.500		07/29/20		10,132
	10,000,000		Province of Quebec Canada			2.750		04/12/27		10,023
	5,000,000		Province of Quebec Canada			7.500		09/15/29		7,052
			TOTAL FOREIGN GOVERNMENT BONDS							535,265
MORTGAGE BACKED - 5.9%
	2,600,000		Federal Home Loan Mortgage Corp (FHLMC)			3.000		10/15/33		2,598
	10,281,396		FHLMC			3.500		08/15/43		10,570
	4,171,780		FHLMC			3.000		03/15/44		4,181
	9,019,454		FHLMC			3.500		09/15/44		9,214
	14,604,208	i	FHLMC	LIBOR 1 M + 0.300%		2.784		06/15/48		14,454
	9,127,630	i	FHLMC	LIBOR 1 M + 9.920%		5.946		06/15/48		10,359
	7,053,986	i	FHLMC	LIBOR 1 M + 9.840%		5.866		10/15/48		7,893
	10,689		Federal Home Loan Mortgage Corp Gold (FGLMC)			7.000		10/01/20		11
	2,492		FGLMC			7.000		05/01/23		3
	4,135,348		FGLMC			3.500		03/01/27		4,235
	13,419		FGLMC			8.000		01/01/31		14
	246,262		FGLMC			4.500		07/01/33		261
	1,666,468		FGLMC			7.000		12/01/33		1,913
	505,300		FGLMC			7.000		05/01/35		576
	1,182,008		FGLMC			5.000		06/01/36		1,274
	379,379		FGLMC			5.000		07/01/39		410
	629,390		FGLMC			4.500		10/01/44		665
	677,316		FGLMC			4.500		11/01/44		715
	985,017		FGLMC			4.500		11/01/44		1,040
	381,290		FGLMC			4.500		12/01/44		400
	625,788		FGLMC			4.500		12/01/44		661
	2,405,341		FGLMC			3.500		04/01/45		2,463
	22,242,287		FGLMC			3.500		10/01/45		22,761
	10,568,793		FGLMC			4.000		12/01/45		11,050
	34,487,176		FGLMC			3.500		08/01/46		35,292
	11,655,791		FGLMC			3.000		01/01/47		11,610
	15,436,459		FGLMC			3.000		02/01/47		15,375
	1,036,422		FGLMC			4.500		06/01/47		1,102
	2,547,171		FGLMC			4.000		09/01/47		2,639
	8,726,266		FGLMC			3.500		03/01/48		8,914
	14,323,175		FGLMC			4.000		03/01/48		14,997
	3,540,194		FGLMC			4.000		07/01/48		3,709
	10,865,781		FGLMC			4.500		08/01/48		11,591
	7,000,000		Federal National Mortgage Association (FNMA)			1.625		01/21/20		6,955
	13,455		FNMA			8.000		07/01/24		15
	18,500,000	i	FNMA			2.785		02/25/27		18,413
	3,500,000	i	FNMA			3.325		06/25/28		3,601
	7,052,406		FNMA			3.500		02/01/32		7,217
	3,072,685		FNMA			3.500		05/01/32		3,153
	7,656,599		FNMA			3.500		07/01/32		7,836
	1,437,723		FNMA			3.000		11/01/32		1,451
	3,143,098		FNMA			5.000		05/01/35		3,381
	1,999,090		FNMA			5.000		10/01/35		2,151

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,514,527		FNMA		5.000	%	02/01/36	$	1,638
	1,968,720		FNMA		5.500		11/01/38		2,164
	18,503		FNMA		4.500		04/01/39		19
	29,485		FNMA		4.500		02/01/40		31
	324,123		FNMA		5.000		08/01/40		348
	1,626,986		FNMA		5.000		09/01/40		1,755
	113,597		FNMA		4.500		11/01/40		121
	205,341		FNMA		4.500		01/01/41		219
	132,883		FNMA		4.500		02/01/41		142
	2,738,792		FNMA		5.000		05/01/41		2,954
	196,021		FNMA		4.500		06/01/41		209
	197,408		FNMA		4.500		06/01/41		211
	436,610		FNMA		5.000		06/01/41		471
	1,392,146		FNMA		5.000		07/01/41		1,501
	277,997		FNMA		4.500		12/01/41		297
	211,531		FNMA		4.500		01/01/42		226
	185,428		FNMA		4.500		04/01/42		198
	1,476,515		FNMA		4.500		04/01/42		1,561
	203,006		FNMA		4.500		06/01/42		216
	2,035,166		FNMA		4.500		06/01/42		2,149
	170,758		FNMA		4.500		07/01/42		182
	2,514,897		FNMA		3.000		04/25/43		2,522
	789,908		FNMA		4.500		06/01/44		831
	8,621,943		FNMA		4.500		06/01/44		9,063
	2,074,335		FNMA		4.500		08/01/44		2,181
	4,683,135		FNMA		4.500		10/01/44		4,925
	9,621,583		FNMA		4.500		11/01/44		10,118
	2,129,361		FNMA		4.500		12/01/44		2,239
	11,099,214		FNMA		3.000		02/25/45		11,211
	3,293,818		FNMA		3.000		02/25/45		3,326
	340,107		FNMA		3.500		03/01/45		348
	190,137		FNMA		3.500		03/01/45		194
	515,456		FNMA		4.500		03/01/45		542
	3,412,437		FNMA		3.000		03/25/45		3,440
	640,436		FNMA		4.500		04/01/45		673
	8,786,003		FNMA		3.500		04/25/45		9,016
	13,842,808		FNMA		3.500		04/25/45		14,190
	4,712,227		FNMA		3.500		05/01/45		4,825
	24,647,892		FNMA		3.000		12/25/45		24,733
	7,609,040		FNMA		3.500		01/01/46		7,782
	9,155,754		FNMA		4.000		01/01/46		9,565
	9,405,775		FNMA		3.500		06/01/46		9,616
	2,653,842		FNMA		3.500		08/01/46		2,702
	6,899,385		FNMA		3.500		10/01/46		7,054
	2,493,959	h	FNMA		3.000		11/01/46		2,484
	6,705,019		FNMA		3.500		12/01/46		6,814
	22,564,694		FNMA		3.500		01/01/47		22,900
	2,803,907		FNMA		3.000		04/25/47		2,811
	5,895,267		FNMA		4.500		01/01/48		6,280
	4,848,556		FNMA		4.500		02/01/48		5,164
	55,478,931		FNMA		3.000		02/25/48		55,779
	6,136,113		FNMA		4.000		03/01/48		6,416
	21,042,174		FNMA		4.500		03/01/48		22,411
	57,587,493		FNMA		4.000		04/01/48		59,460
	4,250,509		FNMA		4.500		05/01/48		4,527

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,198,110		FNMA		4.500	%	05/01/48	$	3,406
	6,660,053	h	FNMA		4.000		08/01/48		6,866
	7,687,644		FNMA		5.000		08/01/48		8,327
	10,503,909	h	FNMA		4.500		12/01/48		10,976
	1,165,160		FNMA		5.000		12/01/48		1,234
	2,000,000	h	FNMA		3.000		04/25/49		1,992
	4,000,000	h	FNMA		3.500		04/25/49		4,055
	4,708,503		Government National Mortgage Association (GNMA)		2.580		08/15/25		4,606
	59,558		GNMA		6.500		05/20/31		69
	7,523,534		GNMA		2.640		01/15/33		7,395
	10,584,427		GNMA		2.690		06/15/33		10,246
	8,583,265		GNMA		3.700		10/15/33		8,764
	59,743		GNMA		6.000		10/20/36		66
	68,770		GNMA		6.000		01/20/37		76
	391,815		GNMA		6.000		02/20/37		435
	176,004		GNMA		5.000		04/15/38		189
	107,095		GNMA		6.000		08/20/38		118
	239,509		GNMA		6.500		11/20/38		272
	23,277		GNMA		4.500		02/20/39		25
	8,069,217		GNMA		3.700		08/15/40		8,250
	32,941		GNMA		4.500		08/20/41		35
	113,784		GNMA		4.500		09/20/41		121
	25,725		GNMA		4.500		01/20/44		27
	25,839		GNMA		4.500		02/20/44		27
	49,645		GNMA		4.500		05/20/44		53
	319,668		GNMA		4.500		05/20/44		339
	364,545		GNMA		4.500		08/20/44		387
	248,578		GNMA		4.500		09/20/44		260
	137,950		GNMA		4.500		10/20/44		146
	74,286		GNMA		4.500		11/20/44		78
	225,619		GNMA		4.500		12/20/44		240
	331,265		GNMA		4.500		02/20/45		352
	423,859		GNMA		4.500		08/20/45		450
	354,335		GNMA		4.500		08/20/45		374
	381,808		GNMA		4.500		12/20/45		405
	5,225,800		GNMA		4.000		06/20/46		804
	17,255,252		GNMA		3.000		12/20/47		17,343
	41,999,976		GNMA		3.500		12/20/47		42,948
	20,247,012		GNMA		3.000		01/20/48		20,350
	18,747,651		GNMA		3.500		01/20/48		19,170
	7,465,382		GNMA		4.000		12/20/48		7,714
	9,008,572		GNMA		3.500		01/20/49		9,201
			TOTAL MORTGAGE BACKED						818,068
MUNICIPAL BONDS - 4.6%
	3,340,000		Antelope Valley-East Kern Water Agency Financing Authority		4.326		06/01/36		3,457
	4,500,000	g	Basin Electric Power Coop		6.127		06/01/41		5,262
	3,790,000		Bay Area Water Supply & Conservation Agency		2.535		10/01/21		3,778
	2,635,000		Bay Area Water Supply & Conservation Agency		3.015		10/01/24		2,653
	1,170,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		1,187
	3,135,300		California Earthquake Authority		2.805		07/01/19		3,134
	13,000,000		California Housing Finance Agency		2.966		08/01/22		13,097
	3,380,000		Chicago Board of Education		5.000		12/01/20		3,507

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	14,000,000		Chicago Housing Authority		4.361	%	01/01/38	$	14,803
	9,700,000		Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		12,239
	3,500,000		City & County Honolulu HI Wastewater System Revenue		3.200		07/01/26		3,571
	3,035,000		City & County of Honolulu HI		2.668		10/01/27		2,974
	1,250,000		City & County of Honolulu HI		6.114		07/01/29		1,261
	5,645,000		City & County of Honolulu HI		3.974		09/01/35		5,846
	1,615,000		City & County of Honolulu HI		4.004		09/01/36		1,661
	7,085,000		City & County of San Francisco CA		4.000		04/01/47		7,165
	5,500,000		City & County of San Francisco CA		4.000		09/01/48		5,510
	2,750,000		City of Austin TX Water & Wastewater System Revenue		2.133		11/15/19		2,742
	5,395,000		City of Chicago IL		7.750		01/01/42		6,889
	1,105,000		City of Chicago IL		7.750		01/01/42		1,195
	7,280,000		City of Cincinnati OH Water System Revenue		2.568		12/01/21		7,297
	475,000		City of Eugene, OR		6.320		08/01/22		510
	1,250,000		City of Florence SC		4.250		12/01/34		1,291
	1,000,000		City of Houston TX Combined Utility System Revenue		3.375		11/15/24		1,036
	1,275,000		City of Houston TX Combined Utility System Revenue		4.172		11/15/38		1,331
	12,500,000		City of Houston TX Utility System Revenue		2.563		05/15/20		12,499
	925,000		City of Jersey City NJ		2.423		09/01/19		923
	5,145,000		City of Los Angeles CA		3.320		09/01/24		5,304
	5,145,000		City of Los Angeles CA		3.450		09/01/25		5,346
	7,500,000		City of Los Angeles CA		3.880		09/01/38		7,645
	1,780,000	g	City of Miami FL		4.808		01/01/39		1,879
	3,010,000		City of Norfolk VA		3.000		10/01/35		2,696
	3,665,000		City of Norfolk VA		3.050		10/01/36		3,228
	3,345,000		City of San Francisco CA Public Utilities Commission Water Revenue		3.000		11/01/26		3,370
	3,725,000		City of San Francisco CA Public Utilities Commission Water Revenue		3.950		11/01/36		3,811
	18,500,000		City of San Francisco CA Public Utilities Commission Water Revenue		4.185		11/01/46		18,854
	1,000,000		City of San Juan Capistrano CA		3.700		08/01/31		1,025
	1,000,000		Commonwealth Financing Authority		2.675		06/01/21		995
	1,150,000		Commonwealth Financing Authority		2.875		06/01/22		1,147
	2,310,000		Commonwealth Financing Authority		3.075		06/01/23		2,311
	2,730,000		Commonwealth Financing Authority		3.864		06/01/38		2,774
	7,650,000		County of Alameda CA		3.820		08/01/38		7,820
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,481
	995,000	h	County of Saline AR		3.550		06/01/42		1,008
	15,000,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		17,268
	760,000		Fiscal Year 2005 Securitization Corp		4.760		08/15/19		766
	9,000,000		Florida State Board of Administration Finance Corp		2.163		07/01/19		8,990
	15,630,000	j	Garden State Preservation Trust		0.000		11/01/22		14,552
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,082
	1,250,000		Grant County Public Utility District No 2		4.164		01/01/35		1,333
	4,135,000		Greene County OH		2.720		12/01/21		4,136
	4,365,000		Greene County OH		3.120		12/01/23		4,369
	4,615,000		Greene County OH		3.270		12/01/24		4,619
	4,755,000		Greene County OH		3.420		12/01/25		4,760
	1,300,000		Guadalupe Valley Electric Coop, Inc		5.671		10/01/32		1,486
	975,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		987
	2,000,000		Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,130
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		559
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,659
	3,540,000		Maryland Community Development Administration Housing Revenue		3.797		03/01/39		3,477
	185,000		Massachusetts Housing Finance Agency		4.782		12/01/20		187
	4,650,000		Massachusetts St. Water Pollution Abatement		5.192		08/01/40		5,258
	3,500,000		Metropolitan Council		1.750		09/01/20		3,465
	5,000,000		Metropolitan Water District of Southern California		6.250		07/01/39		5,044

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	8,000,000		Michigan Finance Authority			5.000	%	07/01/22	$	8,836
	500,000		Michigan Finance Authority			5.000		07/01/22		542
	8,945,000		Michigan Finance Authority			5.000		07/01/22		9,880
	2,500,000		Michigan Finance Authority			5.000		07/01/30		2,816
	2,000,000		Michigan Finance Authority			5.000		07/01/31		2,244
	8,500,000		New Jersey Economic Development Authority			4.271		06/15/20		8,594
	7,400,000		New Jersey Economic Development Authority			5.706		06/15/30		8,442
	3,000,000		New Jersey Economic Development Authority			5.756		06/15/31		3,456
	3,375,000		New Mexico Finance Authority			4.090		06/15/38		3,514
	1,590,000		New York State Energy Research & Development Authority			2.372		07/01/19		1,588
	1,285,000		New York State Energy Research & Development Authority			2.772		07/01/20		1,289
	1,590,000		New York State Energy Research & Development Authority			3.206		07/01/22		1,626
	1,255,000		New York State Environmental Facilities Corp			3.045		06/15/24		1,281
	1,225,000		New York State Environmental Facilities Corp			3.195		06/15/25		1,260
	2,120,000		New York State Environmental Facilities Corp			3.520		07/15/27		2,217
	17,500,000		New York Transportation Development Corp			5.000		01/01/26		20,313
	4,750,000		Northern California Power Agency			4.320		07/01/24		4,971
	4,760,000		Ohio State Water Development Authority			4.879		12/01/34		5,411
	700,000		Oklahoma Water Resources Board			3.071		04/01/22		715
	13,250,000	g	Oregon State Business Development Commission			6.500		04/01/31		12,791
	2,500,000		Palm Beach County Solid Waste Authority			2.636		10/01/24		2,497
	1,070,000		Pend Oreille County Public Utility District No Box Canyon			3.621		01/01/21		1,070
	4,500,000		Pend Oreille County Public Utility District No Box Canyon			5.000		01/01/30		4,669
	1,000,000		Sacramento Area Flood Control Agency			2.699		10/01/22		997
	435,000		San Francisco City & County Redevelopment Agency			3.113		08/01/22		440
	2,000,000		San Francisco City & County Redevelopment Agency			4.375		08/01/44		2,056
	38,830,000		State of California			3.750		10/01/37		40,293
	11,565,000		State of California			4.600		04/01/38		12,321
	10,050,000		State of California			4.988		04/01/39		10,845
	2,000,000	i	State of California			2.193		04/01/47		1,994
	4,400,000	i	State of California	LIBOR 1 M + 0.780%		3.270		04/01/47		4,418
	9,800,000		State of Illinois			5.000		02/01/20		10,024
	8,000,000		State of Illinois			5.000		02/01/22		8,502
	9,000,000		State of Illinois			5.520		04/01/38		8,723
	1,500,000		State of Louisiana			1.769		08/01/20		1,484
	4,505,000		State of Michigan			3.375		12/01/20		4,567
	4,405,000		State of Michigan			3.590		12/01/26		4,533
	2,500,000		State of Ohio			5.412		09/01/28		3,009
	2,500,000		State of Texas			2.749		10/01/23		2,528
	5,000,000		State of Texas			6.072		10/01/29		5,086

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,025,000	State of Texas		3.576	%	08/01/34	$	2,045
	3,370,000	State of Texas		3.726		08/01/43		3,411
	3,000	State of Wisconsin		5.700		05/01/26		3
	4,000,000	Suffolk County Water Authority		4.000		06/01/39		4,268
	1,650,000	Syracuse Industrial Development Agency		5.000		01/01/36		1,633
	2,280,000	Tampa Bay Water		2.612		10/01/25		2,249
	3,225,000	Tampa Bay Water		2.782		10/01/26		3,207
	3,000,000	Tampa Bay Water		2.952		10/01/27		3,011
	1,255,000	Texas Water Development Board		4.248		10/15/35		1,319
	5,880,000	Texas Water Development Board		4.340		10/15/48		6,086
	4,170,000	Texas Water Development Board		4.648		04/15/50		4,410
	5,000,000	Tuolumne Wind Project Authority		6.918		01/01/34		6,322
	3,035,000	University of California		3.809		05/15/28		3,206
	11,400,000	University of California		4.009		05/15/30		12,157
	1,000,000	University of Cincinnati		3.250		06/01/29		1,038
	1,560,000	University of Cincinnati		3.650		06/01/34		1,609
	1,615,000	University of Cincinnati		3.700		06/01/35		1,668
	18,000,000	University of New Mexico		3.532		06/20/32		18,255
	17,500,000	University of Virginia		3.570		04/01/45		17,842
	5,000,000	Vermont Educational & Health Buildings Financing Agency		4.000		12/01/42		5,211
	3,000,000	Vermont Educational & Health Buildings Financing Agency		4.000		12/01/46		3,113
	1,000,000	Washington County Clean Water Services		5.078		10/01/24		1,113
	3,750,000	Water Works Board of the City of Birmingham		1.988		01/01/21		3,712
	3,100,000	Water Works Board of the City of Birmingham		2.192		01/01/22		3,069
	600,000	West Virginia Water Development Authority		5.000		11/01/21		649
	1,345,000	West Virginia Water Development Authority		5.000		11/01/22		1,494
	1,000,000	West Virginia Water Development Authority		5.000		11/01/23		1,139
		TOTAL MUNICIPAL BONDS						633,720
U.S. TREASURY SECURITIES - 3.2%
	6,000,000	United States Treasury Bond		3.125		02/15/43		6,370
	1,000,000	United States Treasury Bond		3.375		05/15/44		1,108
	66,090,000	United States Treasury Bond		2.875		11/15/46		67,061
	88,925,000	United States Treasury Bond		3.000		05/15/47		92,367
	4,556,000	United States Treasury Bond		3.375		11/15/48		5,082
	13,285,000	United States Treasury Note		1.375		05/31/21		13,037
	19,110,000	United States Treasury Note		2.500		02/15/22		19,256
	4,150,000	United States Treasury Note		2.000		07/31/22		4,120
	4,500,000	United States Treasury Note		1.750		09/30/22		4,428
	12,234,500	United States Treasury Note		1.625		11/15/22		11,982
	42,880,000	United States Treasury Note		2.875		09/30/23		44,048
	11,550,000	United States Treasury Note		2.625		12/31/23		11,752
	71,295,000	United States Treasury Note		2.375		02/29/24		71,799
	1,525,000	United States Treasury Note		2.250		10/31/24		1,523
	9,350,000	United States Treasury Note		2.125		11/30/24		9,276
	5,560,000	United States Treasury Note		2.750		06/30/25		5,706
	43,290,000	United States Treasury Note		2.500		02/28/26		43,804
	30,645,000	United States Treasury Note		2.625		02/15/29		31,241
		TOTAL U.S. TREASURY SECURITIES						443,960
		TOTAL GOVERNMENT BONDS						2,909,257
		(Cost $2,870,358)

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
STRUCTURED ASSETS - 4.2%
ASSET BACKED - 1.5%
$	1,500,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.650%		3.146	%	02/28/41	$	1,469
			Series - 2006 A (Class M3)
	100,000	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 0.670%		3.156		04/25/36		99
			Series - 2006 SD1 (Class M1)
	4,000,000	g	Capital Automotive REIT			3.660		10/15/44		4,003
			Series - 2014 1A (Class A)
	3,923,333	g	Capital Automotive REIT			3.870		04/15/47		3,951
			Series - 2017 1A (Class A1)
	644,328	i	C-BASS Trust	LIBOR 1 M + 0.080%		2.566		07/25/36		634
			Series - 2006 CB6 (Class A1)
	4,001,302	i	Chase Funding Loan Acquisition Trust	LIBOR 1 M + 0.855%		3.341		06/25/34		3,915
			Series - 2004 OPT1 (Class M1)
	2,962,500	g	DB Master Finance LLC			3.629		11/20/47		2,965
			Series - 2017 1A (Class A2I)
	875,250	g	Domino’s Pizza Master Issuer LLC			4.474		10/25/45		903
			Series - 2015 1A (Class A2II)
	11,918,500	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		11,774
			Series - 2017 1A (Class A2II)
	1,588,000	g	Domino’s Pizza Master Issuer LLC			4.116		07/25/48		1,612
			Series - 2018 1A (Class A2I)
	7,822,939	†,g	HERO Funding Trust			3.840		09/21/40		8,243
			Series - 2015 1A (Class A)
	1,854,078	†,g	HERO Funding Trust			3.990		09/21/40		1,882
			Series - 2014 2A (Class A)
	3,811,730	g	HERO Funding Trust			3.750		09/20/41		3,867
			Series - 2016 2A (Class A)
	3,638,872	g	HERO Funding Trust			4.050		09/20/41		3,735
			Series - 2016 1A (Class A)
	1,405,129	g	HERO Funding Trust			3.080		09/20/42		1,388
			Series - 2016 3A (Class A1)
	9,034,916	g	HERO Funding Trust			3.710		09/20/47		9,201
			Series - 2017 1A (Class A1)
	9,502,923	g	HERO Funding Trust			3.190		09/20/48		9,580
			Series - 2017 3A (Class A1)
	2,250,773	g	HERO Funding Trust			3.280		09/20/48		2,222
			Series - 2017 2A (Class A1)
	10,456,571	g	HERO Funding Trust			4.670		09/20/48		10,813
			Series - 2018 1A (Class A2)
	604,443	†,g	HERO Residual Funding			4.500		09/21/42		601
			Series - 2016 1R (Class A1)
	2,800,000	g	Houston Galleria Mall Trust			3.087		03/05/37		2,794
			Series - 2015 HGLR (Class A1A2)
	1,129,287	i	Morgan Stanley ABS Capital I, Inc Trust	LIBOR 1 M + 1.050%		3.266		12/27/33		1,128
			Series - 2004 NC1 (Class M1)
	7,082,243	g	Mosaic Solar Loans LLC			3.820		06/22/43		7,058
			Series - 2017 2A (Class A)
	2,357,967	g	MVW Owner Trust			2.420		12/20/34		2,313
			Series - 2017 1A (Class A)
	5,467,123	g,i	Navient Student Loan Trust	LIBOR 1 M + 0.250%		2.736		06/27/67		5,457
			Series - 2018 4A (Class A1)

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	400,000	i	RASC	LIBOR 1 M + 0.590%		3.080	%	08/25/35	$	400
			Series - 2005 KS8 (Class M4)
	4,955,733	g	Renew			3.670		09/20/52		5,055
			Series - 2017 1A (Class A)
	11,318,620	g	Renew			3.950		09/20/53		11,574
			Series - 2018 1 (Class A)
	128,615		Santander Drive Auto Receivables Trust			2.740		12/15/21		129
			Series - 2015 5 (Class C)
	376,947	g	Sierra Timeshare Receivables Funding LLC			2.580		09/20/32		375
			Series - 2015 3A (Class A)
	266,708	g	Sierra Timeshare Receivables Funding LLC			3.080		09/20/32		266
			Series - 2015 3A (Class B)
	4,824,470	g	SolarCity LMC			4.590		04/20/44		4,918
			Series - 2014 1 (Class A)
	23,660,733	g	SolarCity LMC			4.020		07/20/44		23,741
			Series - 2014 2 (Class A)
	4,396,427	g	SolarCity LMC			4.800		09/20/48		4,512
			Series - 2016 A (Class A)
	2,162,289	g	SpringCastle America Funding LLC			3.050		04/25/29		2,160
			Series - 2016 AA (Class A)
	39,929	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		3.386		09/25/34		40
			Series - 2004 8 (Class M1)
	73,591	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		3.486		09/25/34		73
			Series - 2004 8 (Class A9)
	2,558,044	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%		3.989		04/25/35		2,499
			Series - 2005 7XS (Class 2A1A)
	2,939,615	g	Sunrun Athena Issuer LLC			5.310		04/30/49		3,039
			Series - 2018 1 (Class A)
	11,759,269	g	TES LLC			4.330		10/20/47		12,114
			Series - 2017 1A (Class A)
	2,500,000	g	TES LLC			7.740		10/20/47		2,593
			Series - 2017 1A (Class B)
	9,640,110	g	TES LLC			4.120		02/20/48		9,522
			Series - 2017 2A (Class A)
	7,042,391	g	Tesla Auto Lease Trust			2.320		12/20/19		7,033
			Series - 2018 A (Class A)
	4,415,389	g	Tesla Auto Lease Trust			3.710		08/20/21		4,466
			Series - 2018 B (Class A)
	2,906,104		Toyota Auto Receivables Owner Trust			1.300		04/15/20		2,901
			Series - 2016 B (Class A3)
	14,978,802	g	Vivint Colar Financing V LLC			4.730		04/30/48		15,520
			Series - 2018 1A (Class A)
	63,456	g,i	Wachovia Loan Trust	LIBOR 1 M + 0.360%		2.846		05/25/35		63
			Series - 2005 SD1 (Class A)
	2,962,500	g	Wendys Funding LLC			3.573		03/15/48		2,921
			Series - 2018 1A (Class A2I)
			TOTAL ASSET BACKED							217,521
OTHER MORTGAGE BACKED - 2.7%
	2,015,000	g,i	20 TSQ GroundCo LLC			3.100		05/15/35		1,998
			Series - 2018 20TS (Class B)
	1,387,469	g,i	Agate Bay Mortgage Trust			3.500		11/25/44		1,375
			Series - 2014 3 (Class A13)

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	659,036	g,i	Agate Bay Mortgage Trust			3.500	%	09/25/45	$	648
			Series - 2015 6 (Class A9)
	259,702	i	Alternative Loan Trust	LIBOR 1 M + 0.500%		2.986		06/25/34		259
			Series - 2004 8CB (Class M1)
	2,000,000	†,g,i	Banc of America Commercial Mortgage Trust			6.038		02/10/51		308
			Series - 2007 5 (Class B)
	4,740,575	g,i	Bancorp Commercial Mortgage Trust	LIBOR 1 M + 0.900%		3.384		09/15/35		4,728
			Series - 2018 CRE4 (Class A)
	5,440,000	g,i	BBCMS Mortgage Trust			4.267		08/05/38		4,804
			Series - 2018 CHRS (Class E)
	12,500,000	g	BBCMS Trust			3.593		09/15/32		12,769
			Series - 2015 MSQ (Class A)
	6,000,000	g	BBCMS Trust			3.894		09/15/32		6,090
			Series - 2015 MSQ (Class B)
	12,870,000	g,h,i	Benchmark Mortgage Trust			3.899		03/15/62		12,605
			Series - 2019 B10 (Class 3CCA)
	4,000,000	g	BWAY Mortgage Trust			2.917		01/10/35		3,979
			Series - 2015 1740 (Class A)
	2,000,000	i	CD Commercial Mortgage Trust			3.879		11/10/49		2,035
			Series - 2016 CD2 (Class B)
	2,000,000	i	Citigroup Commercial Mortgage Trust			4.143		04/10/48		2,011
			Series - 2015 GC29 (Class C)
	3,000,000	g,i	Cityline Commercial Mortgage Trust			2.778		11/10/31		2,984
			Series - 2016 CLNE (Class A)
	2,750,000	g,i	COMM Mortgage Trust			3.413		10/10/29		2,733
			Series - 2017 PANW (Class B)
	7,500,000	g,i	COMM Mortgage Trust			3.538		10/10/29		7,514
			Series - 2017 PANW (Class C)
	8,811,000	g	COMM Mortgage Trust			3.544		03/10/31		9,081
			Series - 2013 WWP (Class C)
	925,000	g,i	COMM Mortgage Trust			4.793		08/10/46		978
			Series - 2013 CR10 (Class B)
	2,000,000		COMM Mortgage Trust			4.701		03/10/47		2,088
			Series - 2014 UBS2 (Class B)
	2,500,000	g,i	COMM Mortgage Trust			4.118		03/10/48		2,366
			Series - 2015 CR22 (Class D)
	1,525,000	i	COMM Mortgage Trust			4.252		05/10/48		1,566
			Series - 2015 CR23 (Class C)
	4,000,000	i	COMM Mortgage Trust			4.252		05/10/48		3,822
			Series - 2015 CR23 (Class D)
	2,500,000	i	COMM Mortgage Trust			3.463		08/10/48		2,188
			Series - 2015 CR24 (Class D)
	3,390,000	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		5.086		05/25/24		3,554
			Series - 2014 C02 (Class 1M2)
	8,151,902	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		5.486		07/25/24		8,654
			Series - 2014 C03 (Class 1M2)
	1,905,485	i	Connecticut Avenue Securities	LIBOR 1 M + 5.000%		7.486		11/25/24		2,127
			Series - 2014 C04 (Class 2M2)
	5,000,000	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%		6.736		01/25/29		5,500
			Series - 2016 C04 (Class 1M2)
	2,250,000	i	Connecticut Avenue Securities	LIBOR 1 M + 4.450%		6.936		01/25/29		2,463
			Series - 2016 C05 (Class 2M2)
	1,743,641	i	Connecticut Avenue Securities	LIBOR 1 M + 0.950%		3.436		10/25/29		1,747
			Series - 2017 C03 (Class 1M1)

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	612,366	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		3.336	%	11/25/29	$	613
			Series - 2017 C04 (Class 2M1)
	1,745,596	i	Connecticut Avenue Securities	LIBOR 1 M + 0.600%		3.086		07/25/30		1,742
			Series - 2018 C01 (Class 1M1)
	6,000,000	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		3.965		08/25/30		5,982
			Series - 2018 C02 (Class 2M2)
	2,014,749	i	Connecticut Avenue Securities	LIBOR 1 M + 0.680%		3.166		10/25/30		2,014
			Series - 2018 C03 (Class 1M1)
	148,680	i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%		3.236		12/25/30		149
			Series - 2018 C04 (Class 2M1)
	4,710,636	i	Connecticut Avenue Securities	LIBOR 1 M + 0.720%		3.206		01/25/31		4,709
			Series - 2018 C05 (Class 1M1)
	3,000,000	i	Connecticut Avenue Securities	LIBOR 1 M + 2.350%		4.836		01/25/31		3,012
			Series - 2018 C05 (Class 1M2)
	3,495,000	i	Connecticut Avenue Securities	LIBOR 1 M + 2.100%		4.586		03/25/31		3,450
			Series - 2018 C06 (Class 2M2)
	955,405	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%		3.236		04/25/31		955
			Series - 2018 R07 (Class 1M1)
	507,243	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		3.336		07/25/31		507
			Series - 2019 R01 (Class 2M1)
	505,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.450%		4.936		07/25/31		506
			Series - 2019 R01 (Class 2M2)
	1,986,079	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		3.336		08/25/31		1,987
			Series - 2019 R02 (Class 1M1)
	6,650,000	g,i	CSAIL Commercial Mortgage Trust			3.677		06/15/37		6,757
			Series - 2017 C8 (Class 85BA)
	8,750,000	g,i	CSAIL Commercial Mortgage Trust			3.677		06/15/37		8,816
			Series - 2017 C8 (Class 85BB)
	5,000,000	g,i	CSMC Trust			3.728		11/10/32		5,116
			Series - 2017 CALI (Class B)
	4,005,402	g,i	CSMC Trust			3.500		02/25/48		3,909
			Series - 2018 J1 (Class A11)
	1,715,000	g,i	DBUBS Mortgage Trust			5.699		11/10/46		1,787
			Series - 2011 LC1A (Class C)
	6,800,076	g,i	Flagstar Mortgage Trust			4.000		05/25/48		6,872
			Series - 2018 3INV (Class A3)
	1,371,854	g,i	Flagstar Mortgage Trust			4.000		09/25/48		1,370
			Series - 2018 5 (Class A11)
	3,660,000	i	GMAC Commercial Mortgage Securities, Inc			4.984		12/10/41		3,658
			Series - 2004 C3 (Class C)
	10,000,000	g	GRACE Mortgage Trust			3.369		06/10/28		10,106
			Series - 2014 GRCE (Class A)
	3,000,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.090%		3.574		10/15/31		3,002
			Series - 2018 HART (Class A)
	2,535,000	g,i	GS Mortgage Securities Trust			5.182		12/10/43		2,618
			Series - 2010 C2 (Class B)
	3,000,000		GS Mortgage Securities Trust			3.143		10/10/49		2,936
			Series - 2016 GS3 (Class AS)
	830,000	i	GS Mortgage Securities Trust			3.802		11/10/49		802
			Series - 2016 GS4 (Class C)
	2,000,000	g	GS Mortgage Securities Trust			3.000		02/10/52		1,716
			Series - 2019 GC38 (Class D)
	1,481,872	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		3.102		08/19/45		1,445
			Series - 2005 11 (Class 2A1A)

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	6,000,000	g	Hudson Yards Mortgage Trust			2.835	%	08/10/38	$	5,869
			Series - 2016 10HY (Class A)
	5,000,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		4,881
			Series - 2016 10HY (Class B)
	5,000,000	g,i	Hudson Yards Mortgage Trust			2.977		08/10/38		4,831
			Series - 2016 10HY (Class C)
	317,183	i	Impac CMB Trust	LIBOR 1 M + 0.660%		3.146		03/25/35		311
			Series - 2004 11 (Class 2A1)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.399		07/15/46		3,158
			Series - 2011 C4 (Class C)
	9,423,989	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%		2.646		06/25/37		9,245
			Series - 2007 CH5 (Class A1)
	1,693,088	g,i	JP Morgan Mortgage Trust			3.623		12/25/44		1,692
			Series - 2015 1 (Class B1)
	591,732	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		584
			Series - 2015 3 (Class A19)
	2,090,413	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		2,066
			Series - 2015 6 (Class A13)
	1,209,204	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		1,192
			Series - 2016 1 (Class A13)
	175,274	g,i	JP Morgan Mortgage Trust			3.500		01/25/47		175
			Series - 2017 1 (Class A3)
	4,851,203	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		4,854
			Series - 2017 2 (Class A5)
	1,363,053	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		1,349
			Series - 2017 2 (Class A13)
	2,146,238	g,i	JP Morgan Mortgage Trust			3.500		08/25/47		2,148
			Series - 2017 3 (Class 1A5)
	1,032,195	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		1,033
			Series - 2018 3 (Class A5)
	466,030	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		466
			Series - 2018 5 (Class A5)
	3,260,631	g,i	JP Morgan Mortgage Trust			3.000		12/25/48		3,210
			Series - 2017 6 (Class A6)
	2,032,638	g,i	JP Morgan Mortgage Trust			3.500		12/25/48		2,034
			Series - 2018 6 (Class 1A3)
	1,551,294	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		1,551
			Series - 2018 8 (Class A13)
	3,470,408	g,i	JP Morgan Mortgage Trust			4.000		02/25/49		3,482
			Series - 2018 9 (Class A13)
	3,970,199	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		3,990
			Series - 2019 1 (Class A15)
	10,730	i	LB-UBS Commercial Mortgage Trust			6.114		07/15/40		11
			Series - 2007 C6 (Class AM)
	4,000,000	g,i	MAD Mortgage Trust			3.142		08/15/34		3,994
			Series - 2017 330M (Class B)
	857,447	i	ML-CFC Commercial Mortgage Trust			5.501		03/12/51		858
			Series - 2007 6 (Class AM)
	21,000,000	g	Morgan Stanley Capital I Trust			3.350		07/13/29		21,269
			Series - 2014 CPT (Class A)
	2,000,000	g,i	Morgan Stanley Capital I Trust			3.446		07/13/29		1,996
			Series - 2014 CPT (Class E)
	25,467	i	Morgan Stanley Capital I Trust			5.389		11/12/41		25
			Series - 2006 HQ10 (Class AJ)

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	102,994	i	Morgan Stanley Capital I Trust			6.239	%	10/15/42	$	103
			Series - 2006 IQ11 (Class AJ)
	1,897,980	i	Morgan Stanley Capital I Trust			6.113		12/12/49		1,430
			Series - 2007 IQ16 (Class AJFX)
	5,000,000	g,i	MSDB Trust			3.316		07/11/39		5,026
			Series - 2017 712F (Class A)
	15,780,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 0.784%		3.267		07/15/33		15,675
			Series - 2018 850T (Class A)
	17,385,000	g	OBP Depositor LLC Trust			4.646		07/15/45		17,596
			Series - 2010 OBP (Class A)
	3,900,000	g	One Market Plaza Trust			3.614		02/10/32		3,992
			Series - 2017 1MKT (Class A)
	1,062,547	g,i	Sequoia Mortgage Trust			3.500		06/25/46		1,050
			Series - 2016 1 (Class A19)
	427,830	g,i	Sequoia Mortgage Trust			3.500		11/25/46		429
			Series - 2016 3 (Class A10)
	2,552,802	g,i	Sequoia Mortgage Trust			3.500		04/25/47		2,520
			Series - 2017 3 (Class A19)
	4,109,907	g,i	Sequoia Mortgage Trust			3.000		08/25/47		4,061
			Series - 2017 5 (Class A5)
	743,099	g,i	Sequoia Mortgage Trust			3.500		02/25/48		733
			Series - 2018 2 (Class A19)
	2,506,627	g,i	Sequoia Mortgage Trust			3.500		05/25/48		2,515
			Series - 2018 5 (Class A4)
	1,661,911	g,i	Sequoia Mortgage Trust			4.000		06/25/48		1,681
			Series - 2018 CH2 (Class A21)
	513,310	g,i	Shellpoint Co-Originator Trust			3.500		11/25/46		512
			Series - 2016 1 (Class 1A10)
	3,955,271	g,h,i	Shellpoint Co-Originator Trust			3.500		10/25/47		3,939
			Series - 2017 2 (Class A1)
	737,085	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 3.800%		6.286		03/25/25		777
			Series - 2015 HQ1 (Class M3)
	1,750,000	i	STACR	LIBOR 1 M + 1.350%		3.836		03/25/29		1,765
			Series - 2016 HQA3 (Class M2)
	210,668	i	STACR	LIBOR 1 M + 1.200%		3.686		07/25/29		212
			Series - 2017 DNA1 (Class M1)
	4,549,905	i	STACR	LIBOR 1 M + 1.200%		3.686		10/25/29		4,574
			Series - 2017 DNA2 (Class M1)
	2,045,704	i	STACR	LIBOR 1 M + 0.750%		3.236		03/25/30		2,044
			Series - 2017 DNA3 (Class M1)
	284,132	i	STACR	LIBOR 1 M + 0.450%		2.936		07/25/30		283
			Series - 2018 DNA1 (Class M1)
	1,698,032	g,i	STACR			3.819		05/25/48		1,696
			Series - 2018 SPI2 (Class M1)
	1,606,959	g,i	STACR			4.167		08/25/48		1,618
			Series - 2018 SPI3 (Class M1)
	5,000,000	g,i	VMC Finance LLC	LIBOR 1 M + 0.920%		3.404		10/15/35		4,989
			Series - 2018 FL2 (Class A)
	439,076	i	Wachovia Bank Commercial Mortgage Trust			5.876		05/15/46		442
			Series - 2007 C34 (Class AJ)
	3,000,000	i	Wachovia Bank Commercial Mortgage Trust			5.951		05/15/46		3,021
			Series - 2007 C34 (Class B)

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,650,000	i	Wachovia Bank Commercial Mortgage Trust		5.951	%	05/15/46	$	1,666
			Series - 2007 C34 (Class C)
			TOTAL OTHER MORTGAGE BACKED						370,133
			TOTAL STRUCTURED ASSETS						587,654
			(Cost $587,331)
			TOTAL BONDS						5,385,598
			(Cost $5,323,658)

SHARES			COMPANY
COMMON STOCKS - 59.0%
AUTOMOBILES & COMPONENTS - 0.9%
	25,123	*	American Axle & Manufacturing Holdings, Inc	360
	82,313		Aptiv plc	6,543
	562	*,e	Autoliv, Inc	41
	133,292		Bayerische Motoren Werke AG.	10,292
	3,491		BorgWarner, Inc	134
	228,800		Bridgestone Corp	8,816
	220,582		Denso Corp	8,618
	97,691		Harley-Davidson, Inc	3,484
	508,180		Honda Motor Co Ltd	13,803
	163,362		Magna International, Inc	7,954
	56,903		Michelin (C.G.D.E.) (Class B)	6,723
	7,033	*	Modine Manufacturing Co	98
	336,046		Peugeot S.A.	8,200
	100,987		Renault S.A.	6,677
	55,407	*,e	Tesla, Inc	15,506
	389,500		Toyota Motor Corp	22,946
	40,640		Valeo S.A.	1,180
	334	*	Visteon Corp	22
			TOTAL AUTOMOBILES & COMPONENTS	121,397
BANKS - 4.0%
	20,740		Ameris Bancorp	712
	24,817		Associated Banc-Corp	530
	834,103		Australia & New Zealand Banking Group Ltd	15,426
	5,496,711		Banca Intesa S.p.A.	13,415
	2,060		Bancfirst Corp	107
	2,299,292	*	Banco Bilbao Vizcaya Argentaria S.A.	13,138
	817,660		Bank Hapoalim Ltd	5,434
	841,607		Bank Leumi Le-Israel	5,514
	1,030		Bank of Hawaii Corp	81
	174,230		Bank of Montreal	13,036
	317,885	e	Bank of Nova Scotia	16,922
	60,679		Bank OZK	1,758
	3,730		BankUnited	125
	2,405		Banner Corp	130
	504,427		BB&T Corp	23,471
	356		Bendigo Bank Ltd	2

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	25,572		Berkshire Hills Bancorp, Inc	$	697
	2,280,000		BOC Hong Kong Holdings Ltd		9,462
	900		BOK Financial Corp		73
	6,533		Brookline Bancorp, Inc		94
	8,589		Bryn Mawr Bank Corp		310
	10,067		Cadence BanCorp		187
	1,795,908	*	CaixaBank S.A.		5,616
	19,106		Camden National Corp		797
	79,444		Canadian Imperial Bank of Commerce		6,278
	794,489		Citigroup, Inc		49,433
	599,611		Citizens Financial Group, Inc		19,487
	2,120		Columbia Banking System, Inc		69
	168,527		Comerica, Inc		12,356
	22,410		Commerce Bancshares, Inc		1,301
	410,761	*	Commerzbank AG.		3,184
	418,897		Commonwealth Bank of Australia		21,026
	889		Community Trust Bancorp, Inc		36
	9,015		Cullen/Frost Bankers, Inc		875
	67,309	*	Customers Bancorp, Inc		1,232
	681,293		DBS Group Holdings Ltd		12,718
	14,324		Federal Agricultural Mortgage Corp (Class C)		1,037
	337,727		Fifth Third Bancorp		8,517
	21,395		First Commonwealth Financial Corp		270
	6,726		First Financial Bancorp		162
	14,113		First Financial Bankshares, Inc		815
	1,399		First Financial Corp		59
	290		First Interstate Bancsystem, Inc		11
	3,952		First Merchants Corp		146
	52,717		First Republic Bank		5,296
	2,590		Glacier Bancorp, Inc		104
	5,441		Hancock Holding Co		220
	426,800		Hang Seng Bank Ltd		10,539
	16,503		Heartland Financial USA, Inc		704
	9,347		Heritage Financial Corp		282
	24,702	*	HomeStreet, Inc		651
	21,937		HomeTrust Bancshares, Inc		553
	51,394		Huntington Bancshares, Inc		652
	6,451		Independent Bank Corp (MA)		523
	1,029,939		ING Groep NV		12,480
	1,147		International Bancshares Corp		44
	125,286		KBC Groep NV		8,759
	995,632		Keycorp		15,681
	2,791	e	Live Oak Bancshares, Inc		41
	133,838		M&T Bank Corp		21,015
	11,289	*	MGIC Investment Corp		149
	212,400		Mitsui Trust Holdings, Inc		7,633
	54,790		Mizrahi Tefahot Bank Ltd		1,129
	825,235		National Australia Bank Ltd		14,828
	15,790		National Bank Holdings Corp		525
	7,259		National Bank of Canada		328
	3,324		NBT Bancorp, Inc		120
	43,621		New York Community Bancorp, Inc		505
	54,855		Northfield Bancorp, Inc		762
	1,532		OceanFirst Financial Corp		37

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	65,374		OFG Bancorp	$	1,294
	9,051		Old National Bancorp		148
	15,649		Opus Bank		310
	14,998		People’s United Financial, Inc		247
	37,397		Pinnacle Financial Partners, Inc		2,046
	294,577		PNC Financial Services Group, Inc		36,133
	46,716		Popular, Inc		2,435
	820		Prosperity Bancshares, Inc		57
	988,195		Regions Financial Corp		13,983
	993,900		Resona Holdings, Inc		4,306
	590,050	e	Skandinaviska Enskilda Banken AB (Class A)		5,112
	1,319,300		Standard Chartered plc		10,170
	8,646		Stock Yards Bancorp, Inc		292
	408,000		Sumitomo Mitsui Financial Group, Inc		14,288
	27,573	*	SVB Financial Group		6,131
	604,981	*,e	Svenska Handelsbanken AB		6,387
	314,178	*,e	Swedbank AB (A Shares)		4,440
	18,341	*	Texas Capital Bancshares, Inc		1,001
	6,965		TFS Financial Corp		115
	50,351	*	The Bancorp, Inc		407
	422,826		Toronto-Dominion Bank		22,946
	2,462		Trico Bancshares		97
	17,930	*	Tristate Capital Holdings, Inc		366
	1,700		Trustmark Corp		57
	5,827		Umpqua Holdings Corp		96
	10,176		Union Bankshares Corp		329
	5,260		Univest Corp of Pennsylvania		129
	723,681		US Bancorp		34,874
	14,406		Webster Financial Corp		730
	3,410		WesBanco, Inc		135
	3,019		Westamerica Bancorporation		187
	44,194	*	Western Alliance Bancorp		1,814
	928,581		Westpac Banking Corp		17,117
	1,110		Wintrust Financial Corp		75
	1,706		WSFS Financial Corp		66
	55,295		Zions Bancorporation		2,511
			TOTAL BANKS		560,440
CAPITAL GOODS - 4.2%
	237,183		3M Co		49,282
	623,418		ABB Ltd		11,717
	881		Acuity Brands, Inc		106
	7,218		Air Lease Corp		248
	429		Allegion plc		39
	14,787		Argan, Inc		739
	456		Armstrong World Industries, Inc		36
	167,764		Assa Abloy AB		3,621
	26,471	*	Astronics Corp		866
	372,006		Atlas Copco AB (A Shares)		10,007
	346,439		Atlas Copco AB (B Shares)		8,593
	75,623	*	Axon Enterprise, Inc		4,115
	68,269		Barnes Group, Inc		3,510
	2,120	*	Beacon Roofing Supply, Inc		68

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	54,799		Brenntag AG.	$	2,817
	13,142		Briggs & Stratton Corp		155
	73,289	*	Builders FirstSource, Inc		978
	6,729		CAE, Inc		149
	2,521		Carlisle Cos, Inc		309
	271,586		Caterpillar, Inc		36,797
	10,312	*	Chart Industries, Inc		933
	831,337		CNH Industrial NV		8,470
	53,140		Cummins, Inc		8,389
	81,079		Curtiss-Wright Corp		9,190
	5,900	e	Daifuku Co Ltd		309
	89,000		Daikin Industries Ltd		10,461
	96,314		DCC plc		8,333
	143,141		Deere & Co		22,880
	888		Donaldson Co, Inc		44
	226,502		Eaton Corp		18,247
	14,474		Eiffage S.A.		1,391
	4,718		EMCOR Group, Inc		345
	105,478		Fastenal Co		6,783
	138,335		Ferguson plc		8,811
	978		Flowserve Corp		44
	68,049		Fortive Corp		5,709
	856		Fortune Brands Home & Security, Inc		41
	20,280		Graco, Inc		1,004
	27,784	*	Herc Holdings, Inc		1,083
	74,225		Hexcel Corp		5,133
	95,000		Hino Motors Ltd		802
	97,900	e	Hitachi Construction Machinery Co Ltd		2,610
	18,668		Hochtief AG.		2,705
	288		Hubbell, Inc		34
	386		IDEX Corp		59
	233,832		Illinois Tool Works, Inc		33,562
	95,963		Ingersoll-Rand plc		10,359
	375,884		Johnson Controls International plc		13,885
	303,500		Kajima Corp		4,490
	55,200		Kawasaki Heavy Industries Ltd		1,365
	1,335,270		Keppel Corp Ltd		6,144
	196,578	*,e	KEYW Holding Corp, The		1,695
	421,000		Komatsu Ltd		9,819
	579,800		Kubota Corp		8,428
	90,772		L3 Technologies, Inc		18,733
	14,151		Legrand S.A.		947
	364		Lennox International, Inc		96
	24,449	*	Lydall, Inc		574
	266,596		Masco Corp		10,480
	752,560		Meggitt plc		4,933
	61,306	*	Mercury Systems, Inc		3,928
	9,220		Metso Oyj		318
	469,400		Mitsubishi Corp		13,069
	682,600		Mitsui & Co Ltd		10,622
	16,221		Moog, Inc (Class A)		1,410
	10,359		MTU Aero Engines Holding AG.		2,348
	8,124	*	MYR Group, Inc		281
	83,000		NGK Insulators Ltd		1,209

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	333,800		Obayashi Corp	$	3,364
	358		Oshkosh Truck Corp		27
	64,772		Osram Licht AG.		2,231
	386		Owens Corning, Inc		18
	126,166		PACCAR, Inc		8,597
	61,539		Parker-Hannifin Corp		10,561
	184,808	*,e	Plug Power, Inc		444
	89,372		Quanta Services, Inc		3,373
	247,163		Rexel S.A.		2,789
	55,656		Rockwell Automation, Inc		9,765
	55,310		Roper Industries, Inc		18,914
	8,372		Rush Enterprises, Inc (Class A)		350
	171,627		Schneider Electric S.A.		13,471
	41,557	*	Sensata Technologies Holding plc		1,871
	386,200		Shimizu Corp		3,364
	182,223		Siemens AG.		19,597
	1,616	e	SKF AB (B Shares)		27
	11,700		Snap-On, Inc		1,831
	152,246		Spirit Aerosystems Holdings, Inc (Class A)		13,935
	18,600		Stanley Black & Decker, Inc		2,533
	69,401	*	Teledyne Technologies, Inc		16,449
	8,500		THK Co Ltd		211
	22,276	*	Titan Machinery, Inc		347
	54,800		Toto Ltd		2,330
	29,026	*	United Rentals, Inc		3,316
	10,935	*	Veritiv Corp		288
	11,896		Vestas Wind Systems AS		1,003
	598,938		Volvo AB (B Shares)		9,293
	19,142		W.W. Grainger, Inc		5,760
	5,431		Wabash National Corp		74
	137	*	WABCO Holdings, Inc		18
	366,312	e	Wartsila Oyj (B Shares)		5,924
	3,753	*	Welbilt, Inc		61
	185,548	*	Wesco Aircraft Holdings, Inc		1,631
	698	*	WESCO International, Inc		37
	33,710		Woodward Governor Co		3,199
	12,800		WSP Global, Inc		700
	49,895		Xylem, Inc		3,944
			TOTAL CAPITAL GOODS		588,304
COMMERCIAL & PROFESSIONAL SERVICES - 0.8%
	2,604		ABM Industries, Inc		95
	36,304		ACCO Brands Corp		311
	25,543		Adecco S.A.		1,364
	1,175		Brambles Ltd		10
	11,578	*	Cimpress NV		928
	379,313	*	Copart, Inc		22,983
	28,504		Exponent, Inc		1,645
	12,422		Heidrick & Struggles International, Inc		476
	11,793		ICF International, Inc		897
	384,157	*	IHS Markit Ltd		20,890
	20,446		Insperity, Inc		2,528
	129,770		Intertek Group plc		8,221

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,600		KAR Auction Services, Inc	$	82
	16,221		Kelly Services, Inc (Class A)		358
	7,947		Kforce, Inc		279
	15,748		Manpower, Inc		1,302
	23,089	*	Mistras Group, Inc		319
	2,100		Mobile Mini, Inc		71
	29,024		Navigant Consulting, Inc		565
	1,000	*	On Assignment, Inc		63
	10,610		Pitney Bowes, Inc		73
	278,600		Recruit Holdings Co Ltd		7,988
	3,689		RELX plc		79
	631,286		RELX plc (London)		13,509
	21,731		Resources Connection, Inc		359
	81,599		Robert Half International, Inc		5,317
	1,100		Secom Co Ltd		94
	3,476		SGS S.A.		8,658
	1,544	*	SP Plus Corp		53
	66,652	*,e	Team, Inc		1,166
	9,438		Tetra Tech, Inc		562
	170,700		TransUnion		11,410
	14,915		Viad Corp		840
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		113,495
CONSUMER DURABLES & APPAREL - 1.1%
	48,541		Adidas-Salomon AG.		11,806
	497,409		Barratt Developments plc		3,885
	30,182		Berkeley Group Holdings plc		1,451
	232,096		Burberry Group plc		5,915
	46,626		Callaway Golf Co		743
	666	*	Capri Holdings Ltd		30
	224		Carter’s, Inc		23
	20,968	*	Century Communities, Inc		503
	96,710		Essilor International S.A.		10,565
	74,927	*,e	Fossil Group, Inc		1,028
	709	*	Garmin Ltd		61
	58,882		Hanesbrands, Inc		1,053
	804		Hasbro, Inc		68
	15,890	*,e	iRobot Corp		1,870
	32,156		Lennar Corp (Class A)		1,579
	9,939	*,e	LGI Homes, Inc		599
	16,136	*	Lululemon Athletica, Inc		2,644
	120,304	*,e	Mattel, Inc		1,564
	34,564	*	Meritage Homes Corp		1,545
	24,650	*	Mohawk Industries, Inc		3,110
	8,565		Movado Group, Inc		312
	218,934		Newell Rubbermaid, Inc		3,358
	549,177		Nike, Inc (Class B)		46,246
	10	*	NVR, Inc		28
	963,700		Panasonic Corp		8,309
	14,720		Pandora AS		689
	646		PVH Corp		79
	1,940		SEB S.A.		327
	34,300		Sekisui Chemical Co Ltd		553
	342,400		Sekisui House Ltd		5,674

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	206,400	e	Sharp Corp	$	2,280
	323,000		Sony Corp		13,637
	750		Tapestry, Inc		24
	762,926		Taylor Wimpey plc		1,745
	922,500		Techtronic Industries Co		6,213
	279		Tupperware Corp		7
	124,504	*,e	Under Armour, Inc (Class A)		2,632
	84,700	*	Under Armour, Inc (Class C)		1,598
	18,549	*	Unifi, Inc		359
	110,963		VF Corp		9,644
	12,737		Whirlpool Corp		1,693
			TOTAL CONSUMER DURABLES & APPAREL		155,449
CONSUMER SERVICES - 1.2%
	138,079		Accor S.A.		5,594
	15,319	*	American Public Education, Inc		461
	71,614		ARAMARK Holdings Corp		2,116
	5,746	*	Bright Horizons Family Solutions		730
	19,899		Carriage Services, Inc		383
	7,945	*	Chipotle Mexican Grill, Inc (Class A)		5,643
	31,329		Choice Hotels International, Inc		2,436
	557,484		Compass Group plc		13,117
	53,679		Darden Restaurants, Inc		6,520
	676		Dunkin Brands Group, Inc		51
	17,199	*	El Pollo Loco Holdings, Inc		224
	30,658	*	frontdoor, Inc		1,055
	1,543		H&R Block, Inc		37
	185,064		Hilton Worldwide Holdings, Inc		15,381
	56,670	*	Houghton Mifflin Harcourt Co		412
	146,797		InterContinental Hotels Group plc		8,835
	14,599		Marriott Vacations Worldwide Corp		1,365
	698,155	g	Merlin Entertainments plc		3,125
	87,086	*	Norwegian Cruise Line Holdings Ltd		4,786
	89,000		Oriental Land Co Ltd		10,123
	11,777	*	Red Robin Gourmet Burgers, Inc		339
	91,304		Royal Caribbean Cruises Ltd		10,465
	55,231		Service Corp International		2,218
	53,952	*	ServiceMaster Global Holdings, Inc		2,520
	1,234,000		Shangri-La Asia Ltd		1,754
	635		Six Flags Entertainment Corp		31
	609,584		Starbucks Corp		45,316
	428,287		TUI AG. (DI)		4,108
	15,174		Vail Resorts, Inc		3,297
	3,787		Wendy’s		68
	130,649		Whitbread plc		8,646
			TOTAL CONSUMER SERVICES		161,156
DIVERSIFIED FINANCIALS - 3.2%
	738,216		3i Group plc		9,466
	61,300		AEON Financial Service Co Ltd		1,250
	78,780		Ally Financial, Inc		2,166
	360,003		American Express Co		39,348
	36,612		Ameriprise Financial, Inc		4,690

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,444,992		AMP Ltd	$	2,158
	534,933		Bank of New York Mellon Corp		26,977
	72,029		BlackRock, Inc		30,783
	288,549		Capital One Financial Corp		23,572
	606,020		Charles Schwab Corp		25,913
	6,710		Chimera Investment Corp		126
	193,196		CME Group, Inc		31,796
	29,039		Deutsche Boerse AG.		3,723
	263,452		Discover Financial Services		18,747
	3,050		Dynex Capital, Inc		19
	30,645		E*TRADE Financial Corp		1,423
	12,720		Factset Research Systems, Inc		3,158
	105,633		Franklin Resources, Inc		3,501
	19,750	*	Green Dot Corp		1,198
	393,075		Hong Kong Exchanges and Clearing Ltd		13,733
	37,229		IntercontinentalExchange Group, Inc		2,835
	229,267		Invesco Ltd		4,427
	645,222		Investec plc		3,718
	138,061		Investor AB (B Shares)		6,223
	47,941		Legg Mason, Inc		1,312
	166,770		London Stock Exchange Group plc		10,316
	655		LPL Financial Holdings, Inc		46
	127,644		Macquarie Group Ltd		11,755
	390,100		Mitsubishi UFJ Lease & Finance Co Ltd		1,991
	59,367		Moody’s Corp		10,751
	776,330		Morgan Stanley		32,761
	910		Morningstar, Inc		115
	928,314		Natixis		4,972
	12,048	*	NewStar Financial, Inc		3
	178,735		Northern Trust Corp		16,159
	104,012	*	On Deck Capital, Inc		564
	1,841		Raymond James Financial, Inc		148
	170,243		S&P Global, Inc		35,845
	121,033		Schroders plc		4,262
	2,272,147		Standard Life Aberdeen plc		7,809
	6,210		Starwood Property Trust, Inc		139
	189,163		State Street Corp		12,449
	74,824		T Rowe Price Group, Inc		7,491
	128,163		TD Ameritrade Holding Corp		6,407
	1,152,390		UBS AG.		13,983
	26,721		Voya Financial, Inc		1,335
	25,534		Wendel		3,218
			TOTAL DIVERSIFIED FINANCIALS		444,781
ENERGY - 3.3%
	57,293		Aker BP ASA		2,043
	142,503		Apache Corp		4,939
	15,185		Archrock, Inc		149
	255,486		Baker Hughes a GE Co		7,082
	91,592	*	California Resources Corp		2,355
	316,426	*	Callon Petroleum Co		2,389
	3,504		Caltex Australia Ltd		65
	1,002,754		Cenovus Energy, Inc (Toronto)		8,704
	122,771	*	Cheniere Energy, Inc		8,393

398

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	26,240		Cimarex Energy Co	$	1,834
	600,195		ConocoPhillips		40,057
	84,484	*,e	Covia Holdings Corp		472
	36,631		Delek US Holdings, Inc		1,334
	946,023	*	Denbury Resources, Inc		1,939
	233,611	*	Devon Energy Corp		7,373
	58,257		Enagas		1,696
	515,066		Enbridge, Inc (Toronto)		18,655
	505,619		EnCana Corp		3,663
	88,578		EQT Corp		1,837
	33,952	*	Exterran Corp		572
	125,569	*	Forum Energy Technologies, Inc		642
	382,818		Galp Energia SGPS S.A.		6,134
	47,174		Green Plains Renewable Energy, Inc		787
	83,636	*	Gulfport Energy Corp		671
	97,403	*	Helix Energy Solutions Group, Inc		770
	121,244		Hess Corp		7,303
	556,986		Inpex Holdings, Inc		5,299
	367,671	e	John Wood Group plc		2,430
	1,742,084		Kinder Morgan, Inc		34,859
	57,666		Koninklijke Vopak NV		2,762
	266,847	*	Laredo Petroleum Holdings, Inc		825
	146,778		Lundin Petroleum AB		4,970
	485,143		Marathon Oil Corp		8,107
	28,451	*	Matrix Service Co		557
	108,605	*	McDermott International, Inc		808
	326,254		National Oilwell Varco, Inc		8,691
	16,599	*	Natural Gas Services Group, Inc		287
	91,317	e	Neste Oil Oyj		9,734
	107,917	*	Newpark Resources, Inc		989
	187,761		Noble Energy, Inc		4,643
	229,344	*	Oasis Petroleum, Inc		1,385
	496,060		Occidental Petroleum Corp		32,839
	5,830	*	Oceaneering International, Inc		92
	144,239		OMV AG.		7,832
	234,574		ONEOK, Inc		16,383
	29,146		PBF Energy, Inc		908
	27,917	*	PDC Energy, Inc		1,136
	78,483		Pioneer Natural Resources Co		11,951
	91,100	e	Range Resources Corp		1,024
	59,114	*,e	Renewable Energy Group, Inc		1,298
	650,464		Repsol YPF S.A.		11,128
	1,410	e	RPC, Inc		16
	321,579		Santos Ltd		1,557
	766,756		Schlumberger Ltd		33,408
	126,983		SM Energy Co		2,221
	1,751,089		Snam Rete Gas S.p.A.		9,008
	236,915	*	Southwestern Energy Co		1,111
	502,880		Statoil ASA		11,023
	479,547		Suncor Energy, Inc		15,542
	286,093	*	Superior Energy Services		1,336
	9,821		Targa Resources Investments, Inc		408
	801		TechnipFMC plc (Euro OTC)		19

399

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	242,721		Tenaris S.A.	$	3,419
	244,854	*	Tetra Technologies, Inc		573
	14,614	*	Tidewater, Inc		339
	517,293		Total S.A.		28,787
	83,643	*	Unit Corp		1,191
	23,728	e	US Silica Holdings Inc		412
	314,007		Valero Energy Corp		26,637
	209,377		Williams Cos, Inc		6,013
	243,032		Woodside Petroleum Ltd		5,966
	36,997		World Fuel Services Corp		1,069
	1,470		WorleyParsons Ltd		15
			TOTAL ENERGY		452,865
FOOD & STAPLES RETAILING - 0.5%
	293,800		Aeon Co Ltd		6,154
	85,428		Alimentation Couche Tard, Inc		5,032
	53,859		Casey’s General Stores, Inc		6,935
	46,095	e	Casino Guichard Perrachon S.A.		1,998
	41,504	*	Chefs’ Warehouse Holdings, Inc		1,289
	2,800		FamilyMart Co Ltd		71
	63,518		George Weston Ltd		4,567
	1,622,779		J Sainsbury plc		4,980
	161,220		Loblaw Cos Ltd		7,953
	147,990		Metro Wholesale & Food Specialist AG.		2,458
	15,498		Pricesmart, Inc		913
	101,919	*	Smart & Final Stores, Inc		503
	48,144		Spartan Stores, Inc		764
	178,912	*	Sprouts Farmers Market, Inc		3,854
	129,096	*	United Natural Foods, Inc		1,707
	368,247	*	US Foods Holding Corp		12,855
	12,906		Weis Markets, Inc		527
	910,226		WM Morrison Supermarkets plc		2,700
	2,015		Woolworths Ltd		44
			TOTAL FOOD & STAPLES RETAILING		65,304
FOOD, BEVERAGE & TOBACCO - 2.5%
	331,300		Ajinomoto Co, Inc		5,303
	284,190		Associated British Foods plc		9,037
	1,826		Barry Callebaut AG.		3,300
	43,258		Bunge Ltd		2,296
	110,151		Campbell Soup Co		4,200
	272,091		Coca-Cola Amatil Ltd		1,672
	1,330,102		Coca-Cola Co		62,329
	174,494		Coca-Cola European Partners plc (Class A)		9,028
	197,653		Coca-Cola HBC AG.		6,740
	196,499		Danone		15,131
	146,381	e	Dean Foods Co		443
	6,815	*	Freshpet, Inc		288
	334,091		General Mills, Inc		17,289
	2,360	*	Hain Celestial Group, Inc		55
	99,732	e	Hormel Foods Corp		4,464
	172,396		Kellogg Co		9,892
	75,973		Kerry Group plc (Class A)		8,480
	99,300	e	Kikkoman Corp		4,883

400

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	22,483		McCormick & Co, Inc	$	3,387
	832,864		Mondelez International, Inc		41,576
	572,736		Nestle S.A.		54,611
	29,600		Nissin Food Products Co Ltd		2,037
	302,914		Orkla ASA		2,326
	517,807		PepsiCo, Inc		63,457
	136,700		Suntory Beverage & Food Ltd		6,429
	69,000		Yakult Honsha Co Ltd		4,838
			TOTAL FOOD, BEVERAGE & TOBACCO		343,491
HEALTH CARE EQUIPMENT & SERVICES - 2.6%
	28,216	*	Abiomed, Inc		8,058
	28,953	*	Acadia Healthcare Co, Inc		849
	39,666	*	Accuray, Inc		189
	11,700		Alfresa Holdings Corp		333
	69,206	*	Align Technology, Inc		19,677
	55,129	*	Allscripts Healthcare Solutions, Inc		526
	29,398	*	Amedisys, Inc		3,624
	40,869	*	AMN Healthcare Services, Inc		1,924
	35,222	*	Angiodynamics, Inc		805
	32,319	*	AtriCure, Inc		866
	30,445	*	BioTelemetry, Inc		1,906
	73,393	*	Brookdale Senior Living, Inc		483
	31,810	*	Capital Senior Living Corp		127
	219,662		Cardinal Health, Inc		10,577
	17,497	*	Cardiovascular Systems, Inc		676
	306,775	*	Centene Corp		16,290
	182,855	*	Cerner Corp		10,461
	79,050	*	Cerus Corp		492
	49,587		Cigna Corp		7,975
	50,101		Coloplast AS		5,500
	14,582		Computer Programs & Systems, Inc		433
	1,330,712	g	ConvaTec Group plc		2,455
	20,740		Cooper Cos, Inc		6,143
	4,570	*	Corvel Corp		298
	25,039	*	Cross Country Healthcare, Inc		176
	332,246		CVS Health Corp		17,918
	78,540		Dentsply Sirona, Inc		3,895
	21,016	*	Diplomat Pharmacy, Inc		122
	109,572	*	Edwards Lifesciences Corp		20,964
	52,788	*	GenMark Diagnostics, Inc		374
	15,806	*	Glaukos Corp		1,239
	10,466	*	Globus Medical, Inc		517
	7,411	*	Haemonetics Corp		648
	163,461		HCA Holdings, Inc		21,312
	30,112	*	Henry Schein, Inc		1,810
	10,561	*	HMS Holdings Corp		313
	125,859	*	Hologic, Inc		6,092
	101,688		Humana, Inc		27,049
	63,306	*	IDEXX Laboratories, Inc		14,155
	32,221	*	Integer Holding Corp		2,430
	335,319		Koninklijke Philips Electronics NV		13,700
	66,632	*	Laboratory Corp of America Holdings		10,193

401

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	19,312	*	LHC Group, Inc	$	2,141
	9,373	*	LivaNova plc		911
	7,710	*	Medidata Solutions, Inc		565
	37,651	*	Merit Medical Systems, Inc		2,328
	42,933	*	NextGen Healthcare, Inc		723
	46,381	*	Omnicell, Inc		3,749
	70,523	*	OraSure Technologies, Inc		786
	105,029		Owens & Minor, Inc		431
	3,102	*	Penumbra, Inc		456
	2,830	*	Premier, Inc		98
	15,337	*	Providence Service Corp		1,022
	31,422		Quest Diagnostics, Inc		2,825
	11,938	*	Quidel Corp		782
	103,188	e	Ramsay Health Care Ltd		4,719
	48,761		Resmed, Inc		5,070
	252,994		Ryman Healthcare Ltd		2,112
	8,303		Sartorius AG.		1,427
	36,701	*	Select Medical Holdings Corp		517
	90,885	*,e	Senseonics Holdings, Inc		223
	48,724	*	Staar Surgical Co		1,666
	41,823	*,e	Surgery Partners, Inc		472
	63,500		Sysmex Corp		3,847
	22,561	*	Tactile Systems Technology, Inc		1,189
	13,158	*	Tandem Diabetes Care, Inc		836
	67,030	*,e	Teladoc, Inc		3,727
	43,590	*	Tivity Health, Inc		765
	214,474	*,e	TransEnterix, Inc		510
	18,482	*	Triple-S Management Corp (Class B)		422
	274,505		UnitedHealth Group, Inc		67,874
	10,051		US Physical Therapy, Inc		1,056
	20,611	*	Varian Medical Systems, Inc		2,921
	32,132	*	Vocera Communications, Inc		1,016
	2,900		West Pharmaceutical Services, Inc		320
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		361,080
HOUSEHOLD & PERSONAL PRODUCTS - 1.4%
	493		Clorox Co		79
	372,658		Colgate-Palmolive Co		25,542
	4,015		Energizer Holdings, Inc		180
	139,998		Essity AB		4,040
	92,632		Estee Lauder Cos (Class A)		15,335
	83,735		Henkel KGaA		7,968
	37,753		Henkel KGaA (Preference)		3,857
	56,900		Kao Corp		4,491
	75,803		Kimberly-Clark Corp		9,392
	68,368		L’Oreal S.A.		18,411
	778,152		Procter & Gamble Co		80,967
	72,200		Shiseido Co Ltd		5,228
	48,700		Uni-Charm Corp		1,615
	376,499		Unilever NV		21,950
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		199,055
INSURANCE - 2.6%
	1,073,234		Aegon NV		5,155

402

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	101,912		Allianz AG.	$	22,711
	112,380		Allstate Corp		10,584
	665,251		American International Group, Inc		28,646
	4,538		Aon plc		775
	3,753	*	Arch Capital Group Ltd		121
	2,370		Arthur J. Gallagher & Co		185
	369,224		Assicurazioni Generali S.p.A.		6,845
	1,904,029		Aviva plc		10,239
	574,060		AXA S.A.		14,438
	280,811		Chubb Ltd		39,336
	162,931		CNP Assurances		3,587
	1,270		First American Financial Corp		65
	139,663	*	Genworth Financial, Inc (Class A)		535
	2,981,015		Legal & General Group plc		10,698
	2,173		Lincoln National Corp		127
	228,499		Loews Corp		10,952
	338,215		Marsh & McLennan Cos, Inc		31,758
	48,028		Muenchener Rueckver AG.		11,382
	123,000		NKSJ Holdings, Inc		4,555
	61,399		Principal Financial Group		3,082
	467,358		Progressive Corp		33,692
	350,268		Prudential Financial, Inc		32,183
	781,564		Prudential plc		15,667
	209,543		RSA Insurance Group plc		1,387
	169,346		Sun Life Financial, Inc		6,506
	100,851		Swiss Re Ltd		9,858
	173,200		Tokio Marine Holdings, Inc		8,391
	183,744		Travelers Cos, Inc		25,202
	495		White Mountains Insurance Group Ltd		458
	1,467		Willis Towers Watson plc		258
	46,595		Zurich Financial Services AG.		15,425
			TOTAL INSURANCE		364,803
MATERIALS - 2.7%
	133,618		Agnico-Eagle Mines Ltd		5,809
	124,417		Air Liquide		15,833
	147,236		Air Products & Chemicals, Inc		28,116
	2,399,091		Alumina Ltd		4,131
	6,164		Aptargroup, Inc		656
	226,300		Asahi Kasei Corp		2,344
	2,277	*	Axalta Coating Systems Ltd		57
	129,640		Ball Corp		7,501
	214,323		BASF SE		15,806
	950		Bemis Co, Inc		53
	531	*	Berry Plastics Group, Inc		29
	519,596		BlueScope Steel Ltd		5,157
	269,716		Boliden AB		7,687
	22,547		Celanese Corp (Series A)		2,223
	83,968	*	Century Aluminum Co		746
	6,223		Christian Hansen Holding		632
	22,619	*	Clearwater Paper Corp		441
	86,865		Commercial Metals Co		1,484
	231,534		CRH plc		7,177

403

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	65,860		Croda International plc	$	4,327
	5,941		DSM NV		648
	214,000		Ecolab, Inc		37,780
	313		FMC Corp		24
	1,496,233		Fortescue Metals Group Ltd		7,573
	101,779		Franco-Nevada Corp		7,631
	3,439	*	Givaudan S.A.		8,802
	83,785		HeidelbergCement AG.		6,039
	204,900		Hitachi Metals Ltd		2,387
	28,589		Imerys S.A.		1,425
	2,928		International Flavors & Fragrances, Inc		377
	172,881		International Paper Co		7,999
	132,548		Johnson Matthey plc		5,436
	27,469	*	Kraton Polymers LLC		884
	217,827		Linde plc		38,322
	59,233		Louisiana-Pacific Corp		1,444
	11,291		Lundin Mining Corp		52
	9,705		Martin Marietta Materials, Inc		1,952
	3,682		Materion Corp		210
	25,920		Minerals Technologies, Inc		1,524
	486,000		Mitsubishi Chemical Holdings Corp		3,432
	141,592		Mitsui Chemicals, Inc		3,429
	77,471		Mondi plc		1,715
	182,572		Mosaic Co		4,986
	311,816		Newcrest Mining Ltd		5,647
	183,087		Newmont Mining Corp		6,549
	494,100		Nippon Steel Corp		8,746
	28,700		Nitto Denko Corp		1,513
	1,326,157		Norsk Hydro ASA		5,393
	295,593		Nucor Corp		17,248
	229,433		Nutrien Ltd (Toronto)		12,100
	25,736		PH Glatfelter Co		363
	4,188		Reliance Steel & Aluminum Co		378
	79,007		Royal Gold, Inc		7,184
	10,424		Schnitzer Steel Industries, Inc (Class A)		250
	337		Scotts Miracle-Gro Co (Class A)		26
	1,772		Sealed Air Corp		82
	131,300		Shin-Etsu Chemical Co Ltd		11,049
	5,600		Showa Denko KK		198
	31,200		Sika AG.		4,363
	1,033		Sonoco Products Co		64
	153,789		Stora Enso Oyj (R Shares)		1,883
	1,184,000		Sumitomo Chemical Co Ltd		5,527
	229,200		Sumitomo Metal Mining Co Ltd		6,792
	67,852	*	Summit Materials, Inc		1,077
	381,353		Teck Cominco Ltd		8,824
	9,000		Toray Industries, Inc		57
	29,019		Trinseo S.A.		1,315
	96,947		Umicore S.A.		4,315
	166,329	e	UPM-Kymmene Oyj		4,858
	40,659	*,e	US Concrete, Inc		1,684
	110,931		Voestalpine AG.		3,372
	39,240		Vulcan Materials Co		4,646
			TOTAL MATERIALS		379,783

404

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
MEDIA & ENTERTAINMENT - 2.6%
	111,784		Activision Blizzard, Inc	$	5,089
	68,136	*	Alphabet, Inc (Class A)		80,189
	69,329	*	Alphabet, Inc (Class C)		81,344
	1,669		Cable One, Inc		1,638
	19,251		Cinemark Holdings, Inc		770
	66,744	*	Clear Channel Outdoor Holdings, Inc (Class A)		357
	700	e	CyberAgent, Inc		29
	273,506	*	Discovery, Inc (Class A)		7,390
	293,139	*	Discovery, Inc (Class C)		7,452
	32,492	*	Electronic Arts, Inc		3,302
	84,634		Entravision Communications Corp (Class A)		274
	117,382		Gannett Co, Inc		1,237
	32,797	*	GCI Liberty, Inc		1,824
	152,247	*	Gray Television, Inc		3,252
	725,006		Informa plc		7,030
	70,217		Interpublic Group of Cos, Inc		1,475
	3,534,228		ITV plc		5,856
	71,383		JC Decaux S.A.		2,172
	15,074		John Wiley & Sons, Inc (Class A)		667
	181,864	*	Liberty Broadband Corp (Class C)		16,684
	4,448	*	Liberty Global plc		108
	2,960	*	Liberty Global plc (Class A)		74
	64,304	*	Live Nation, Inc		4,086
	5,583	*	Loral Space & Communications, Inc		201
	6,202		Marcus Corp		248
	156,008	*	NetFlix, Inc		55,626
	90,036	e	New York Times Co (Class A)		2,958
	20,600		Nintendo Co Ltd		5,906
	169,040		Omnicom Group, Inc		12,338
	373,284		Pearson plc		4,072
	63,571		ProSiebenSat. Media AG.		905
	7,561		Schibsted ASA (B Shares)		271
	11,472		Scholastic Corp		456
	42,401		Sinclair Broadcast Group, Inc (Class A)		1,632
	3,044,035	e	Sirius XM Holdings, Inc		17,260
	182	*	Take-Two Interactive Software, Inc		17
	17,183		Tribune Co		793
	118,230	*	TripAdvisor, Inc		6,083
	41,656		World Wrestling Entertainment, Inc (Class A)		3,615
	866,041		WPP plc		9,149
			TOTAL MEDIA & ENTERTAINMENT		353,829
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.8%
	389,198		AbbVie, Inc		31,365
	81,706	*	Acadia Pharmaceuticals, Inc		2,194
	8,756	*	Acceleron Pharma, Inc		408
	204,728	*	Achillion Pharmaceuticals, Inc		606
	4,399	*	Acorda Therapeutics, Inc		58
	18,975	*	Aduro Biotech, Inc		76
	213,248		Agilent Technologies, Inc		17,141
	24,557	*	Agios Pharmaceuticals, Inc		1,656

405

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	158,690	*	Akorn, Inc	$	559
	242,654		Amgen, Inc		46,099
	701,314		Astellas Pharma, Inc		10,538
	287,752		AstraZeneca plc		22,969
	9,400		AstraZeneca plc (ADR)		380
	12,449	*	Atara Biotherapeutics, Inc		495
	56,798	*,e	Aurora Cannabis, Inc		514
	85,693	*	Bellicum Pharmaceuticals, Inc		289
	165,249	*	BioCryst Pharmaceuticals, Inc		1,345
	80,136	*	Biogen Idec, Inc		18,943
	65,896	*	BioMarin Pharmaceutical, Inc		5,854
	14,780	*,e	Bluebird Bio, Inc		2,325
	640,705		Bristol-Myers Squibb Co		30,568
	1,178		Bruker BioSciences Corp		45
	37,918	*,e	Canopy Growth Corp		1,641
	277,446	*	Celgene Corp		26,174
	146,097		Chugai Pharmaceutical Co Ltd		10,063
	69,722	*	Coherus Biosciences, Inc		951
	23,539	*	Collegium Pharmaceutical, Inc		356
	122,430		CSL Ltd		16,987
	91,300		Eisai Co Ltd		5,137
	400,959		Eli Lilly & Co		52,029
	5,911	*,e	Esperion Thereapeutics, Inc		237
	40,521	*	FibroGen, Inc		2,202
	19,936	*,e	Flexion Therapeutics, Inc		249
	10,534	*	Genmab AS		1,828
	412,654		Gilead Sciences, Inc		26,827
	67,537	e	H Lundbeck AS		2,929
	11,045	*	Halozyme Therapeutics, Inc		178
	64,866	*	Illumina, Inc		20,153
	32,294	*,e	Inovio Pharmaceuticals, Inc		120
	34,337	*	Intersect ENT, Inc		1,104
	17,371	*	Intra-Cellular Therapies, Inc		212
	96,227	*	Iovance Biotherapeutics, Inc		915
	81,664	*	IQVIA Holdings, Inc		11,747
	15,953	*	Jazz Pharmaceuticals plc		2,280
	46,575	*	Karyopharm Therapeutics, Inc		272
	252,800		Kyowa Hakko Kogyo Co Ltd		5,517
	33,093		Lonza Group AG.		10,274
	869,940		Merck & Co, Inc		72,353
	85,531		Merck KGaA		9,765
	7,999	*	Mettler-Toledo International, Inc		5,783
	65,713	*	Nektar Therapeutics		2,208
	438,685		Novo Nordisk AS		22,928
	92,678	*,e	Opko Health, Inc		242
	1,883	*,e	Orion Oyj (Class B)		71
	9,341	*	PerkinElmer, Inc		900
	9,640		Perrigo Co plc		464
	160,718	*	Progenics Pharmaceuticals, Inc		746
	16,974	*	Prothena Corp plc		206
	181,028	*	QIAGEN NV (Turquoise)		7,348
	19,614	*	Radius Health, Inc		391
	12,992	*	Reata Pharmaceuticals, Inc		1,110
	567	*	Repligen Corp		34

406

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	140,765		Roche Holding AG.	$	38,788
	10,089	*	Sage Therapeutics, Inc		1,605
	62,806	*	Sangamo Biosciences, Inc		599
	263,956		Sanofi-Aventis		23,340
	23,488	*	Sarepta Therapeutics, Inc		2,800
	93,800		Shionogi & Co Ltd		5,823
	4,346	*	Spark Therapeutics, Inc		495
	31,200		Sumitomo Dainippon Pharma Co Ltd		774
	30,109	*,e	Theravance Biopharma, Inc		683
	42,324		UCB S.A.		3,636
	31,135	*	Ultragenyx Pharmaceutical, Inc		2,160
	101,648	*	Vertex Pharmaceuticals, Inc		18,698
	4,804		Vifor Pharma AG.		650
	27,104	*	Waters Corp		6,822
	368,352		Zoetis, Inc		37,082
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		663,313
REAL ESTATE - 2.3%
	7,856		Alexandria Real Estate Equities, Inc		1,120
	15,548	*,e	Altisource Portfolio Solutions S.A.		368
	22,670		American Campus Communities, Inc		1,079
	236,438		American Tower Corp		46,593
	108,838		Boston Properties, Inc		14,571
	4,210		Brandywine Realty Trust		67
	887,545		British Land Co plc		6,814
	80,242		Brixmor Property Group, Inc		1,474
	1,473,649		CapitaLand Ltd		3,976
	43,196		CatchMark Timber Trust, Inc		424
	430,061	e	CBL & Associates Properties, Inc		667
	130,152	*	CBRE Group, Inc		6,436
	22,344		Chatham Lodging Trust		430
	228,200		City Developments Ltd		1,527
	48,831		CorePoint Lodging, Inc		545
	32,533		Coresite Realty		3,482
	317,700		Daiwa House Industry Co Ltd		10,118
	48,947		Digital Realty Trust, Inc		5,825
	132,166		Duke Realty Corp		4,042
	41,460		Easterly Government Properties, Inc		747
	53,133		Equinix, Inc		24,078
	7,555		First Industrial Realty Trust, Inc		267
	539		Gecina S.A.		80
	771,015		Hammerson plc		3,375
	1,962,000		Hang Lung Properties Ltd		4,792
	329,519		HCP, Inc		10,314
	257,492		Host Marriott Corp		4,867
	50,390	*	Howard Hughes Corp		5,543
	248,000		Hulic Co Ltd		2,437
	260,670		Hysan Development Co Ltd		1,397
	146,574		Iron Mountain, Inc		5,197
	92,924	e	iStar Financial, Inc		782
	6,605		Jones Lang LaSalle, Inc		1,018
	38,039		Kimco Realty Corp		704
	45,796		Lend Lease Corp Ltd		403

407

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	9,428		Liberty Property Trust	$	456
	499,500		Link REIT		5,848
	590,900		Mitsubishi Estate Co Ltd		10,722
	362,810		Mitsui Fudosan Co Ltd		9,140
	17		Nippon ProLogis REIT, Inc		36
	59,300		Nomura Real Estate Holdings, Inc		1,141
	49,218		NorthStar Realty Europe Corp		854
	25,895		Office Properties Income Trust		716
	13,245		Park Hotels & Resorts, Inc		412
	7,000		Piedmont Office Realty Trust, Inc		146
	500,555		Prologis, Inc		36,015
	36,640		QTS Realty Trust, Inc		1,648
	3,184		Rayonier, Inc		100
	19,275	e	Realogy Holdings Corp		220
	3,972		Regency Centers Corp		268
	3,556		RMR Group, Inc		217
	19,104		Sabra Healthcare REIT, Inc		372
	65,765	*	SBA Communications Corp		13,131
	405,518		Scentre Group		1,184
	968,417		Segro plc		8,501
	12,041		Senior Housing Properties Trust		142
	463,500		Swire Pacific Ltd (Class A)		5,970
	1,128,400		Swire Properties Ltd		4,856
	59,788		Tier REIT, Inc		1,714
	80,625		UDR, Inc		3,665
	40,112		Unibail-Rodamco-Westfield		6,576
	304,849		Welltower, Inc		23,656
	289,541		Weyerhaeuser Co		7,626
			TOTAL REAL ESTATE		320,891
RETAILING - 2.6%
	74,043	*	1-800-FLOWERS.COM, Inc (Class A)		1,350
	35,173		Advance Auto Parts, Inc		5,998
	440	*	Autonation, Inc		16
	83,634		Best Buy Co, Inc		5,943
	23,910	*	Booking Holdings, Inc		41,721
	74,393	*	CarMax, Inc		5,193
	345,045		eBay, Inc		12,815
	164,363	*	Etsy, Inc		11,049
	206,983		Expedia, Inc		24,631
	18,500		Fast Retailing Co Ltd		8,713
	7,052	*	Five Below, Inc		876
	3,480	e	GameStop Corp (Class A)		35
	171,730		Gap, Inc		4,496
	24,552	*	Genesco, Inc		1,118
	679		Genuine Parts Co		76
	331		Group 1 Automotive, Inc		21
	912,891	*	Groupon, Inc		3,241
	14,217		Haverty Furniture Cos, Inc		311
	61,083		Hennes & Mauritz AB (B Shares)		1,019
	31,775	*	Hibbett Sports, Inc		725
	353,043		Home Depot, Inc		67,745
	419,176		Industria De Diseno Textil S.A.		12,324
	97,400		Jardine Cycle & Carriage Ltd		2,340

408

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	25,182		Kering	$	14,445
	602,335		Kingfisher plc		1,847
	134,757		Kohl’s Corp		9,267
	829		L Brands, Inc		23
	55,655	*,e	Lands’ End, Inc		924
	120,512	*	LKQ Corp		3,420
	369,969		Lowe’s Companies, Inc		40,501
	1,225		Macy’s, Inc		29
	16,107	*	MarineMax, Inc		309
	342,665		Marks & Spencer Group plc		1,244
	2,400	e	Marui Co Ltd		49
	165	*	MercadoLibre, Inc		84
	308	*	Murphy USA, Inc		26
	43,889		Next plc		3,189
	300		Nitori Co Ltd		39
	34,452		Nordstrom, Inc		1,529
	102,526		Office Depot, Inc		372
	201		Pool Corp		33
	171,930	*	Quotient Technology, Inc		1,697
	26,624	*	Rent-A-Center, Inc		556
	195,952		Ross Stores, Inc		18,243
	1,746	*	Sally Beauty Holdings, Inc		32
	15,085	e	Shoe Carnival, Inc		513
	108,130	*	Shutterfly, Inc		4,394
	114,404		Target Corp		9,182
	22,162		Tiffany & Co		2,339
	15,696		Tile Shop Holdings, Inc		89
	176,029		TJX Companies, Inc		9,367
	20,554		Tractor Supply Co		2,009
	25,317	*	Ulta Beauty, Inc		8,829
	23,657	*,e	Wayfair, Inc		3,512
	249,509		Wesfarmers Ltd		6,144
	46,193	e	Williams-Sonoma, Inc		2,599
	29,100	*,g	Zalando SE		1,134
			TOTAL RETAILING		359,725
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.6%
	516,534		Applied Materials, Inc		20,486
	102,635		ASML Holding NV		19,290
	29,888	*	Cirrus Logic, Inc		1,257
	24,927	*	Cree, Inc		1,426
	21,963	*	First Solar, Inc		1,161
	20,787	*	Integrated Device Technology, Inc		1,018
	1,257,055		Intel Corp		67,504
	71,587		Lam Research Corp		12,815
	203,429		NVIDIA Corp		36,528
	420,564		Texas Instruments, Inc		44,609
	65,100		Tokyo Electron Ltd		9,443
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		215,537
SOFTWARE & SERVICES - 5.6%
	304,061		Accenture plc		53,521
	166,379	*	Adobe, Inc		44,338

409

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	102,701		Amadeus IT Holding S.A.	$	8,231
	733		Atos Origin S.A.		71
	150,599	*	Autodesk, Inc		23,466
	35,973	*	Avaya Holdings Corp		605
	65,271	*	Benefitfocus, Inc		3,232
	390,623	*	Black Knight, Inc		21,289
	27,736		Blackbaud, Inc		2,211
	85,228	*	Blackberry Ltd (New)		859
	346,987		Booz Allen Hamilton Holding Co		20,174
	175,271	*	Cadence Design Systems, Inc		11,131
	80,102		Cap Gemini S.A.		9,720
	118,984	*	CGI, Inc		8,180
	23,801	*	ChannelAdvisor Corp		290
	78,696		Computershare Ltd		957
	415,660	*	Conduent, Inc		5,749
	70,417		CSG Systems International, Inc		2,979
	29,591	*	Ellie Mae, Inc		2,920
	58,725	*	ExlService Holdings, Inc		3,525
	95,600		Fujitsu Ltd		6,914
	393,583		International Business Machines Corp		55,535
	162,911		Intuit, Inc		42,587
	216,763	*	Limelight Networks, Inc		700
	88,213		LogMeIn, Inc		7,066
	771	*	Manhattan Associates, Inc		42
	1,702,811		Microsoft Corp		200,829
	90,382	*	New Relic, Inc		8,921
	64,400		Nomura Research Institute Ltd		2,933
	85,098	*	Nutanix, Inc		3,212
	29,738	*	OneSpan, Inc		572
	64,948		Open Text Corp		2,494
	1,016,556		Oracle Corp		54,599
	1,800	*	Otsuka Corp		67
	21,151	*	Paycom Software, Inc		4,000
	5,706	*	Paylocity Holding Corp		509
	70,881	*	Perficient, Inc		1,941
	35,086	*	Qualys, Inc		2,903
	76,312	*	Rapid7, Inc		3,862
	103,864	*	RingCentral, Inc		11,197
	323,968	*	salesforce.com, Inc		51,307
	228,038		SAP AG.		26,362
	67,561		Science Applications International Corp		5,199
	484	*	Shopify, Inc (Class A) (Toronto)		100
	66,340	*	SPS Commerce, Inc		7,036
	41,006	*	Sykes Enterprises, Inc		1,160
	213,104	*	Teradata Corp		9,302
	82,173		TiVo Corp		766
	250,782		Travelport Worldwide Ltd		3,945
	6,080		TTEC Holdings, Inc		220
	79,862	*	Twilio, Inc		10,317
	15,733	*	Ultimate Software Group, Inc		5,194
	51,534	*	Virtusa Corp		2,754
	12,659		VMware, Inc (Class A)		2,285
	37,853	*	WEX, Inc		7,267
	37,590	*	Zendesk, Inc		3,195
			TOTAL SOFTWARE & SERVICES		770,740

410

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
TECHNOLOGY HARDWARE & EQUIPMENT - 3.2%
	15,530	*	Anixter International, Inc	$	871
	1,015,225		Apple, Inc		192,842
	28,175		AVX Corp		489
	18,747		Badger Meter, Inc		1,043
	4,043		Belden CDT, Inc		217
	127,495		Benchmark Electronics, Inc		3,347
	1,428,692		Cisco Systems, Inc		77,135
	2,446	*	Coherent, Inc		347
	61,509	*	Cray, Inc		1,602
	33,384		CTS Corp		981
	39,009		Daktronics, Inc		291
	148,884		Dolby Laboratories, Inc (Class A)		9,375
	67,453	*	Fabrinet		3,532
	25,626	*	FARO Technologies, Inc		1,125
	67,967	*	Finisar Corp		1,575
	1,129,973		Hewlett Packard Enterprise Co		17,436
	1,226,396		HP, Inc		23,829
	20,660	*	Insight Enterprises, Inc		1,138
	44,469	*	Itron, Inc		2,075
	93,108		Kemet Corp		1,580
	27,037		Keyence Corp		16,903
	16,232	*	Keysight Technologies, Inc		1,415
	34,382	*	Kimball Electronics, Inc		533
	193,000		Konica Minolta Holdings, Inc		1,903
	151,900		Kyocera Corp		8,944
	25,369		Littelfuse, Inc		4,629
	23,460	*	Lumentum Holdings, Inc		1,326
	8,736		Methode Electronics, Inc		251
	75,559		Motorola, Inc		10,610
	3,868		MTS Systems Corp		211
	209,100		Murata Manufacturing Co Ltd		10,464
	165,267		National Instruments Corp		7,331
	103,381		NEC Corp		3,504
	9,996	*	Netgear, Inc		331
	26,169	*	Novanta, Inc		2,217
	58,800	e	Omron Corp		2,763
	7,653	*	OSI Systems, Inc		670
	21,896	*	Plexus Corp		1,335
	64,222	*	Ribbon Communications, Inc		331
	17,584	*	Rogers Corp		2,794
	67,700		Shimadzu Corp		1,965
	25,259		SYNNEX Corp		2,409
	4,348		TE Connectivity Ltd		351
	64,332	*	Tech Data Corp		6,588
	150,468	*	TTM Technologies, Inc		1,765
	138,749		Vishay Intertechnology, Inc		2,563
	138,600		Yaskawa Electric Corp		4,376
	32,700		Yokogawa Electric Corp		679
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		439,991

411

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
TELECOMMUNICATION SERVICES - 1.5%
	40,702	*	Boingo Wireless, Inc	$	948
	3,698,200		BT Group plc		10,744
	863,016		CenturyLink, Inc		10,348
	72,478	*	Cincinnati Bell, Inc		691
	30,636		Cogent Communications Group, Inc		1,662
	100,517	e	Consolidated Communications Holdings, Inc		1,097
	93,427	*,e	Gogo, Inc		419
	217,982	*	Iridium Communications, Inc		5,763
	535,332		KDDI Corp		11,530
	435,500		NTT DoCoMo, Inc		9,652
	725,735		Orange S. A.		11,832
	121,776	*	Orbcomm, Inc		826
	185,118		Rogers Communications, Inc (Class B)		9,956
	536,300		Singapore Telecommunications Ltd		1,197
	3,479,100		Singapore Telecommunications Ltd		7,768
	1,900		Softbank Group Corp		185
	2,048,553	*	Sprint Corp		11,574
	17,350	e	Swisscom AG.		8,489
	2,071		Tele2 AB (B Shares)		28
	183,099		Telenor ASA		3,666
	25,967		TeliaSonera AB		117
	779,160		Telstra Corp Ltd		1,837
	7,102		TELUS Corp		263
	1,044,504		Verizon Communications, Inc		61,762
	8,214,627		Vodafone Group plc		14,969
	446,130	*	Vonage Holdings Corp		4,479
	321,738	*	Zayo Group Holdings, Inc		9,144
			TOTAL TELECOMMUNICATION SERVICES		200,946
TRANSPORTATION - 1.6%
	21,214		Aeroports de Paris		4,104
	26,400		All Nippon Airways Co Ltd		969
	60		Amerco, Inc		22
	4,904		Arkansas Best Corp		151
	139,530		Auckland International Airport Ltd		774
	11,737	*	Avis Budget Group, Inc		409
	196,808		Canadian National Railway Co		17,618
	55,500		Central Japan Railway Co		12,901
	612		CH Robinson Worldwide, Inc		53
	282,385		CSX Corp		21,128
	282,893		Delta Air Lines, Inc		14,611
	313,413		Deutsche Post AG.		10,199
	124,800		East Japan Railway Co		12,051
	12,132	*	Echo Global Logistics, Inc		301
	813		Expeditors International of Washington, Inc		62
	18,939		Fraport AG. Frankfurt Airport Services Worldwide		1,453
	100	*	Genesee & Wyoming, Inc (Class A)		9
	18,300		Hankyu Hanshin Holdings, Inc		687
	33,090	*	Hertz Global Holdings, Inc		575
	592		Kansas City Southern Industries, Inc		69
	723		Kuehne & Nagel International AG.		99
	459		Landstar System, Inc		50
	1,482,864		MTR Corp		9,188
	2,378	e	Nippon Yusen Kabushiki Kaisha		35

412

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	88,320		Norfolk Southern Corp	$	16,506
	98,900		Singapore Airlines Ltd		706
	257,848		Southwest Airlines Co		13,385
	14,066		Sydney Airport		74
	798,684		Transurban Group (ASE)		7,491
	261,548		Union Pacific Corp		43,731
	327,184		United Parcel Service, Inc (Class B)		36,560
	200		West Japan Railway Co		15
	8,260	*	YRC Worldwide, Inc		55
			TOTAL TRANSPORTATION		226,041
UTILITIES - 2.2%
	161,542	e	AltaGas Ltd		2,126
	348,665		American Electric Power Co, Inc		29,201
	26,096		American Water Works Co, Inc		2,721
	500,415		APA Group (ASE)		3,552
	4,270		Aqua America, Inc		156
	7,166		Avista Corp		291
	332,200		Chubu Electric Power Co, Inc		5,193
	949		CMS Energy Corp		53
	262,110		Consolidated Edison, Inc		22,229
	412,417		Dominion Resources, Inc		31,616
	11,093		DTE Energy Co		1,384
	2,000,461		Enel S.p.A.		12,819
	10,425		Energias de Portugal S.A.		41
	188,278		Eversource Energy		13,358
	112,045		Fortis, Inc		4,141
	12,890		Gas Natural SDG S.A.		361
	4,646,147		Hong Kong & China Gas Ltd		11,143
	435,000		Hong Kong Electric Holdings Ltd		3,018
	1,867,428		Iberdrola S.A.		16,396
	14,562		Idacorp, Inc		1,449
	142,000		Kyushu Electric Power Co, Inc		1,677
	563,939		Meridian Energy Ltd		1,609
	1,194,068		National Grid plc		13,254
	25,053		New Jersey Resources Corp		1,247
	6,499		NiSource, Inc		186
	50,944	g	Orsted AS		3,861
	3,980		Pinnacle West Capital Corp		380
	292,099		Public Service Enterprise Group, Inc		17,354
	616,948		Scottish & Southern Energy plc		9,545
	159,478		Sempra Energy		20,072
	87,681		South Jersey Industries, Inc		2,812
	625,013		Southern Co		32,301
	400		Tokyo Gas Co Ltd		11
	661,315		United Utilities Group plc		7,024
	145,186		WEC Energy Group, Inc		11,481
	248,120		Xcel Energy, Inc		13,947
			TOTAL UTILITIES		298,009
			TOTAL COMMON STOCKS		8,160,425
			(Cost $6,652,766)

413

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
PREFERRED STOCKS - 0.2%
BANKS - 0.2%
	233,115	*	Federal Home Loan Mortgage Corp	$	2,340
	740,991	*,e	Federal National Mortgage Association		7,654
	14,500	e	M&T Bank Corp		14,911
			TOTAL BANKS		24,905
			TOTAL PREFERRED STOCKS		24,905
			(Cost $38,865)
RIGHTS / WARRANTS - 0.0%
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	38,808	†	Media General, Inc		0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		0
			TOTAL RIGHTS / WARRANTS		0
			(Cost $0)

PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 2.8%
GOVERNMENT AGENCY DEBT - 0.2%
$	27,560,000		Federal Home Loan Bank (FHLB)		2.250	%	04/01/19		27,560
			TOTAL GOVERNMENT AGENCY DEBT						27,560
TREASURY DEBT - 1.2%
	23,900,000		United States Treasury Bill		2.383-2.391		04/02/19		23,898
	44,500,000		United States Treasury Bill		2.393		04/11/19		44,470
	50,000,000		United States Treasury Bill		2.383		04/18/19		49,944
	43,800,000		United States Treasury Bill		2.391		05/02/19		43,711
			TOTAL TREASURY DEBT						162,023
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.4%
	193,707,709	c	State Street Navigator Securities Lending Government Money Market Portfolio						193,708
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						193,708
			TOTAL SHORT-TERM INVESTMENTS						383,291
			(Cost $383,290)
			TOTAL INVESTMENTS - 101.1%						13,991,256
			(Cost $12,437,521)
			OTHER ASSETS & LIABILITIES, NET - (1.1)%						(153,075	)
			NET ASSETS - 100.0%					$	13,838,181
			Abbreviation(s):
	ADR		American Depositary Receipt

414

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

LIBOR	London Interbank Offered Rate
M	Month
OTC	Over The Counter
REIT	Real Estate Investment Trust

*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $186,544,177.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/19, the aggregate value of these securities was $1,264,578,211 or 9.1% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
j	Zero coupon

Cost amounts are in thousands.

415

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

Organization and significant accounting policies

Part F of Form N-PORT was prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission (“Commission”) related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report. For a full set of financial statement notes, please refer to the most recently filed annual or semiannual report.

Valuation of investments

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

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

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

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

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

Any portfolio security for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued at fair value, as determined in good faith using procedures approved by the Board. To the extent the inputs are observable and timely, the values would be categorized as Level 2 of the fair value hierarchy; otherwise they would be categorized as Level 3. 

As of March 31, 2019, 100% of the value of investments in the Inflation-Linked Bond Account was valued based on Level 2 inputs.

The following table summarizes the market value of the Accounts’ investments as of March 31, 2019, based on the inputs used to value them (dollar amounts are in thousands):

Account	Level 1			Level 2			Level 3		Total
Stock
Equity investments:
Communication services	$	7,776,044		$	2,111,067		$	173	$	9,887,284
Consumer discretionary		8,751,211			3,558,228			109		12,309,548
Consumer staples		5,101,567			3,124,243			8		8,225,818
Energy		4,397,362			2,008,435			668		6,406,465
Financials		10,455,414			6,320,415			3,043		16,778,872
Health care		11,431,246			2,859,931			180		14,291,357
Industrials		8,163,352			4,163,793			1,238		12,328,383
Information technology		17,308,805			3,056,402			187		20,365,394
Materials		2,628,263			2,842,947			219		5,471,429
Real estate		2,782,889			1,651,305			11,565		4,445,759
Utilities		2,221,470			1,049,687			—		3,271,157
Government bonds		—			296			—		296
Equity-linked notes		—			1,997			671		2,668
Short-term investments		—			2,885,916			—		2,885,916
Futures contracts**		6,791			—			—		6,791
Purchased options**		6,428			—			—		6,428
Written options**		(1,000	)		—			—		(1,000	)
Forward foreign currency contracts**		—			(48	)		—		(48	)
Total	$	81,029,842		$	35,634,614		$	18,061	$	116,682,517

416

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

Account	Level 1			Level 2		Level 3		Total
Global Equities
Equity investments:
Asia	$	255,863		$	2,164,158	$	12	$	2,420,033
Australasia		—			366,473		—		366,473
Europe		109,370			2,844,747		—		2,954,117
North America		11,214,882			497,397		—		11,712,279
All other equity investments*		310,764			2,254,428		160		2,565,352
Short-term investments		—			399,184		—		399,184
Futures contracts**		2,379			—		—		2,379
Purchased options**		440			—		—		440
Written options**		(165	)		—		—		(165	)
Total	$	11,893,533		$	8,526,387	$	172	$	20,420,092
Growth
Equity investments:
Communication services	$	4,010,484		$	209,318	$	—	$	4,219,802
Consumer discretionary		3,963,946			248,991		—		4,212,937
Consumer staples		1,056,768			137,068		—		1,193,836
Health care		3,078,688			243,157		—		3,321,845
Industrials		2,181,593			294,957		—		2,476,550
Information technology		8,964,041			122,517		—		9,086,558
All other equity investments*		1,968,101			—		—		1,968,101
Short-term investments		108,405			87,300		—		195,705
Total	$	25,332,026		$	1,343,308	$	—	$	26,675,334
Equity Index
Equity investments:
Financials	$	2,472,220		$	6	$	—	$	2,472,226
Health care		2,680,244			3		13		2,680,260
Materials		555,041			—		56		555,097
All other equity investments*		13,048,679			—		—		13,048,679
Short-term investments		154,936			48,013		—		202,949
Futures contracts**		260			—		—		260
Total	$	18,911,380		$	48,022	$	69	$	18,959,471
Bond Market
Bank loan obligations	$	—		$	48,497	$	—	$	48,497
Corporate bonds		—			4,325,448		320		4,325,768
Government bonds		—			6,171,341		—		6,171,341
Structured assets		—			2,614,622		308		2,614,930
Common stocks		278			—		—		278
Preferred stocks		20,499			—		—		20,499
Short-term investments		—			188,005		—		188,005
Forward foreign currency contracts**		—			3,220		—		3,220
Swap contracts**		—			88		—		88
Total	$	20,777		$	13,351,221	$	628	$	13,372,626

417

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

Account	Level 1		Level 2		Level 3		Total
Social Choice
Equity investments:
Communication services	$	427,151	$	127,623	$	—	$	554,774
Consumer discretionary		521,681		276,045		—		797,726
Consumer staples		379,547		228,303		—		607,850
Energy		292,432		160,433		—		452,865
Financials		867,871		527,059		—		1,394,930
Health care		788,780		235,614		—		1,024,394
Industrials		600,761		327,079		—		927,840
Information technology		1,279,145		147,123		—		1,426,268
Materials		177,673		202,110		—		379,783
Real estate		231,997		88,894		—		320,891
Utilities		202,238		95,771		—		298,009
Bank loan obligations		—		24,975		12,062		37,037
Corporate bonds		—		1,888,687		—		1,888,687
Government bonds		—		2,902,141		7,116		2,909,257
Structured assets		—		576,620		11,034		587,654
Short-term investments		193,708		189,583		—		383,291
Total	$	5,962,984	$	7,998,060	$	30,212	$	13,991,256

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

418