COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2019

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
FOOD, BEVERAGE & TOBACCO - 0.0%
INR	1,732,500		Britannia Industries Ltd		8.000	%	08/28/22	$	24
			TOTAL FOOD, BEVERAGE & TOBACCO						24
			TOTAL CORPORATE BONDS						24
			(Cost $25)
GOVERNMENT BONDS - 0.0%
U.S. TREASURY SECURITIES - 0.0%
$	300,000		United States Treasury Note		1.750		05/15/22		301
			TOTAL U.S. TREASURY SECURITIES						301
			TOTAL GOVERNMENT BONDS						301
			(Cost $301)
			TOTAL BONDS						325
			(Cost $326)
SHARES			COMPANY
COMMON STOCKS - 98.7%
AUTOMOBILES & COMPONENTS - 1.3%
	40,893	e	AB Dynamics plc						1,106
	90,434		Adient plc						2,076
	18,300		Aisan Industry Co Ltd						156
	1,065,199		Aisin Seiki Co Ltd						33,678
	405,430	*	American Axle & Manufacturing Holdings, Inc						3,333
	478,444		Apollo Tyres Ltd						1,227
	877,764		Aptiv plc						76,734
	42,164	e	ARB Corp Ltd						542
	38,622	*,e,g	Aston Martin Lagonda Global Holdings plc						250
	291	e	Autoliv, Inc						23
	1,674	e	Autoneum Holding AG.						184
	1,638,000	g	BAIC Motor Corp Ltd						1,012
	134,097		Bajaj Holdings and Investment Ltd						5,571
	37,367		Balkrishna Industries Ltd						410
	156,705		Bayerische Motoren Werke AG.						11,036
	3,521		Bayerische Motoren Werke AG. (Preference)						196
	210,532		Bharat Forge Ltd						1,327
	47,127		BorgWarner, Inc						1,729
	5,329		Bosch Ltd						1,058

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	147,306	e	Brembo S.p.A	$	1,436
	504,896		Bridgestone Corp		19,648
	2,622,135		Brilliance China Automotive Holdings Ltd		2,817
	58,400		BYD Co Ltd		399
	607,062	e	BYD Co Ltd (H shares)		3,017
	15,000		Cayman Engley Industrial Co Ltd		46
	68,183		Ceat Ltd		922
	267,000		Chaowei Power Holdings Ltd		98
	1,535,251		Cheng Shin Rubber Industry Co Ltd		2,266
	2,982,000	*	China First Capital Group Ltd		870
	1,297,000		China Motor Corp		1,032
	9,100		Chongqing Changan Automobile Co Ltd		9
	306,411		Cie Automotive S.A.		7,683
	208,509		CIR-Compagnie Industriali Riunite S.p.A.		211
	244,044		Compagnie Plastic-Omnium S.A.		6,700
	144,182		Continental AG.		18,500
	51,793		Cooper Tire & Rubber Co		1,353
	17,685	*	Cooper-Standard Holding, Inc		723
	29,736		Cub Elecparts, Inc		238
	200,000		Daido Metal Co Ltd		1,186
	18,000		Daikyonishikawa Corp		133
	1,087,872		Daimler AG. (Registered)		54,086
	196,241		Dana Holding Corp		2,834
	665,069		Delphi Technologies plc		8,912
	178,748		Denso Corp		7,898
	42,000		Depo Auto Parts Ind Co Ltd		85
	271,207	g	Dometic Group AB		2,126
	1,837		Dong Ah Tire & Rubber Co Ltd		47
	2,169,787		Dongfeng Motor Group Co Ltd		2,062
	28,442	*	Dorman Products, Inc		2,262
	5,598,200		Drb-Hicom BHD		3,171
	44,300	e	Eagle Industry Co Ltd		407
	3,588		EDAG Engineering Group AG.		39
	13,480		ElringKlinger AG.		93
	28,653	g	Endurance Technologies Ltd		410
	21,321	*	Esmo Corp		48
	15,582	e	Exedy Corp		306
	437,275		Exide Industries Ltd		1,205
	242,344		Faurecia		11,489
	20,000		FCC Co Ltd		386
	104,902		Ferrari NV		16,188
	1,480,946		Fiat DaimlerChrysler Automobiles NV		19,190
	14,790,777		Ford Motor Co		135,484
	49,063		Ford Otomotiv Sanayi AS		516
	39,585	*	Fox Factory Holding Corp		2,464
	296,871		Fuji Heavy Industries Ltd		8,396
	292,697		Futaba Industrial Co Ltd		2,043
	117,000		Fuyao Glass Industry Group Co Ltd		353
	578,000	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		1,604
	10,111,202		Geely Automobile Holdings Ltd		17,183
	6,062,000	*,†	General Motors Co		0
	26,439,191	*,†	General Motors Co		0
	18,507,434	*,†	General Motors Co		0
	40,684,487	*,†,e	General Motors Co		0

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,983,677	*,†	General Motors Co	$	0
	24,057,000	*,†	General Motors Co		0
	755,222		General Motors Co		28,306
	722,689	*,†,e	General Motors Co		0
	7,950,000	*,†	General Motors Co		0
	85,268,000	*,†,e	General Motors Co		0
	4,230,271	*,†,e	General Motors Co		0
	162,151		Gentex Corp		4,465
	34,846	*	Gentherm, Inc		1,432
	99,020	g	Gestamp Automocion S.A.		462
	38,884		Global & Yuasa Battery Co Ltd		1,274
	418,874		Goodyear Tire & Rubber Co		6,034
	2,566,489	e	Great Wall Motor Co Ltd		1,720
	28,700		G-Tekt Corp		448
	4,088,585		Guangzhou Automobile Group Co Ltd (Hong Kong)		3,913
	50,505		GUD Holdings Ltd		343
	23,284		Halla Holdings Corp		835
	59,534		Hankook Tire Co Ltd		1,603
	185,273		Hanon Systems		1,858
	47,056	e	Harley-Davidson, Inc		1,693
	72,144		Hero Honda Motors Ltd		2,756
	1,332,253		Honda Motor Co Ltd		34,884
	99,990		Hota Industrial Manufacturing Co Ltd		369
	117,000		Huayu Automotive Systems Co Ltd		386
	137,489		Hyundai Mobis		28,934
	292,770		Hyundai Motor Co		32,780
	43,717		Hyundai Motor Co Ltd (2nd Preference)		3,101
	19,244		Hyundai Motor Co Ltd (Preference)		1,228
	57,066		Hyundai Wia Corp		2,430
	16,800		Ichikoh Industries Ltd		126
	29,560		Indus Motor Co Ltd		183
	571,670		Isuzu Motors Ltd		6,333
	51,800		Kasai Kogyo Co Ltd		372
	9,689		Kayaba Industry Co Ltd		285
	89,800		Keihin Corp		1,326
	279,455		Kenda Rubber Industrial Co Ltd		284
	746,321		Kia Motors Corp		28,455
	39,520		Knorr-Bremse AG.		3,715
	59,872		Koito Manufacturing Co Ltd		2,947
	273,652	*	Kongsberg Automotive ASA		162
	328,242		Kordsa Teknik Tekstil AS.		738
	49,136	*	Kumho Tire Co, Inc		177
	91,800		Launch Tech Co Ltd		51
	40,420		LCI Industries, Inc		3,713
	113,791		Lear Corp		13,416
	17,953	e	Leoni AG.		227
	59,599	e	Linamar Corp		1,938
	372,083		Magna International, Inc		19,834
	1,401		Maharashtra Scooters Ltd		89
	2,442,184		Mahindra & Mahindra Ltd		18,876
	120,114	*	Mahindra CIE Automotive Ltd		283
	233,800		Mahle-Metal Leve S.A. Industria e Comercio		1,335
	72,802		Mando Corp		2,200

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	142,663		Martinrea International, Inc	$	1,230
	95,916		Maruti Suzuki India Ltd		9,094
	455,856		Mazda Motor Corp		4,086
	15,620		MGI Coutier		289
	356,476		Michelin (C.G.D.E.) (Class B)		39,691
	30,766		Minda Industries Ltd		148
	430,000	e	Minth Group Ltd		1,457
	12,600		Mitsuba Corp		74
	504,638		Mitsubishi Motors Corp		2,202
	409,823	*	Modine Manufacturing Co		4,660
	922,115	*	Motherson Sumi Systems Ltd		1,368
	20,352	*,e	Motorcar Parts of America, Inc		344
	28,600	e	Musashi Seimitsu Industry Co Ltd		366
	291,949		Nan Kang Rubber Tire Co Ltd		425
	9,811		Nexen Corp		48
	103,578		Nexen Tire Corp		782
	1,034,000		Nexteer Automotive Group Ltd		854
	600,318		NGK Spark Plug Co Ltd		11,518
	111,200	*,e	NHK Spring Co Ltd		853
	59,402		Nifco, Inc		1,427
	2,900	e	Nihon Tokushu Toryo Co Ltd		30
	602,000	*,e	NIO, Inc (ADR)		939
	82,900		Nippon Seiki Co Ltd		1,273
	2,461,205	e	Nissan Motor Co Ltd		15,366
	36,441		Nissan Shatai Co Ltd		296
	127,700		Nissin Kogyo Co Ltd		1,798
	48,696	e	NOK Corp		726
	59,045		Nokian Renkaat Oyj		1,664
	37,400		Pacific Industrial Co Ltd		550
	1,207,121		Peugeot S.A.		30,128
	2,338,371		Piaggio & C S.p.A.		6,917
	16,000		Piolax Inc		276
	316,468	g	Pirelli & C S.p.A		1,874
	474,423		Porsche AG.		30,755
	320,000		Press Kogyo Co Ltd		1,341
	35,476,707		PT Astra International Tbk		16,494
	1,080,000		Qingling Motors Co Ltd		258
	847,310		Renault S.A.		48,630
	4,500		Riken Corp		157
	57,435		S&T Daewoo Co Ltd		2,605
	26,174		SAF-Holland S.A.		185
	348,200		SAIC Motor Corp Ltd		1,161
	271,920		Sanyang Industry Co Ltd		184
	10,300	e	Shoei Co Ltd		433
	378,300		Showa Corp		5,485
	67,487		SL Corp		1,352
	159,767		Spartan Motors, Inc		2,192
	423,080		Sri Trang Agro-Industry PCL (Foreign)		142
	179,347	*	Ssangyong Motor Co		430
	29,955		Standard Motor Products, Inc		1,454
	78,613		Stanley Electric Co Ltd		2,094
	107,873	*	Stoneridge, Inc		3,341
	477,329		Sumitomo Electric Industries Ltd		6,091
	35,280		Sumitomo Rubber Industries, Inc		420

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,092		Sundram Fasteners Ltd	$	148
	22,693		Sungwoo Hitech Co Ltd		72
	19,419		Suprajit Engineering Ltd		49
	136,815		Suzuki Motor Corp		5,828
	14,100	*	Tachi-S Co Ltd		172
	12,300		Taiho Kogyo Co Ltd		88
	4,694,153	*	Tata Motors Ltd		7,788
	23,100		Teikoku Piston Ring Co Ltd		371
	55,555	e	Tenneco, Inc		696
	221,547	*,e	Tesla, Inc		53,364
	20,350		Thal Ltd		31
	6,987		Thor Industries, Inc		396
	5,414,000		Tianneng Power International Ltd		3,814
	81,363	e	Tokai Rika Co Ltd		1,384
	21,700		Tokai Rubber Industries, Inc		174
	171,699		Tong Yang Industry Co Ltd		260
	19,300		Topre Corp		306
	64,500		Toyo Tire & Rubber Co Ltd		819
	30,665		Toyoda Gosei Co Ltd		617
	48,300		Toyota Boshoku Corp		679
	191,619		Toyota Industries Corp		11,064
	4,185,261		Toyota Motor Corp		281,083
	5,038	e	Trigano S.A.		405
	133,300	e	TS Tech Co Ltd		4,077
	85,974		Tube Investments of India Ltd		466
	30,500		Tupy S.A.		132
	140,600		UMW Holdings BHD		164
	22,100		Unipres Corp		348
	7,864		Valeo S.A.		255
	291	*,e	Veoneer, Inc		4
	29,201	*,e	Visteon Corp		2,410
	107,639		Volkswagen AG.		18,504
	17,447		Volkswagen AG. (Preference)		2,967
	6,044		WABCO India Ltd		536
	33,034		Winnebago Industries, Inc		1,267
	2,298,657		Xingda International Holdings Ltd		625
	1,036,785		Xinyi Glass Holdings Co Ltd		1,142
	496,000	g	Yadea Group Holdings Ltd		108
	89,769		Yamaha Motor Co Ltd		1,636
	186,592		Yokohama Rubber Co Ltd		3,750
	8,500		Yorozu Corp		103
	389,000		Yulon Motor Co Ltd		246
			TOTAL AUTOMOBILES & COMPONENTS		1,456,846
BANKS - 6.9%
	6,670		1st Constitution Bancorp		125
	53,083		1st Source Corp		2,427
	29,600		77 Bank Ltd		441
	32,665		Aareal Bank AG.		993
	25,325	*	Aavas Financiers Ltd		570
	282,279	g	ABN AMRO Group NV (ADR)		4,973
	1,224,114		Absa Group Ltd		12,363
	4,215,444		Abu Dhabi Commercial Bank PJSC		9,030

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,691		ACNB Corp	$	264
	310,000	*	Addiko Bank AG.		5,778
	67,095,649		Agricultural Bank of China Ltd		26,274
	3,473,500		Agricultural Bank of China Ltd (Class A)		1,685
	3,999,612		AIB Group plc		11,865
	19,800		Aichi Bank Ltd		624
	2,462,527	*	Akbank TAS		3,534
	27,900		Akita Bank Ltd		530
	62,392		Aktia Bank OYJ		572
	1,455,308		Al Rajhi Bank		24,579
	1,749,982		Alinma Bank		10,479
	75,760	*	Alior Bank S.A.		734
	44,465	*	Allegiance Bancshares, Inc		1,427
	977,656		Alliance Financial Group BHD		666
	1,092,907	*	Alpha Bank AE		2,042
	315,270	*,†	Amagerbanken AS		0
	13,530		Amalgamated Bank		217
	19,941	*,e	Amerant Bancorp Inc		418
	9,199		American National Bankshares, Inc		326
	79,268		Ameris Bancorp		3,190
	9,293	*	Ames National Corp		266
	3,445,138		AMMB Holdings BHD		3,405
	9,400	e	Aomori Bank Ltd		230
	14,931	e	Aozora Bank Ltd		374
	14,367		Arrow Financial Corp		480
	41,400	e	Aruhi Corp		927
	1,554,650	e	Ashikaga Holdings Co Ltd		3,845
	932,092		Associated Banc-Corp		18,875
	151,630	*	Atlantic Capital Bancshares, Inc		2,629
	84,264		Atlantic Union Bankshares Corp		3,138
	160,391	g	AU Small Finance Bank Ltd		1,494
	3,906,312		Australia & New Zealand Banking Group Ltd		75,039
	18,944		Awa Bank Ltd		430
	2,596,807		Axis Bank Ltd		25,130
	60,158	*	Axos Financial, Inc		1,663
	50,023	e	Banc of California, Inc		707
	14,640,252		Banca Intesa S.p.A.		34,680
	143,695	*,e	Banca Monte dei Paschi di Siena S.p.A		239
	783,763	e	Banca Popolare dell’Emilia Romagna Scrl		3,028
	262,464		Banca Popolare di Sondrio SCARL		480
	48,985		Bancfirst Corp		2,715
	561,409	e	Banche Popolari Unite Scpa		1,575
	543,754		Banco ABC Brasil S.A.		2,343
	1,389,075		Banco Bilbao Vizcaya Argentaria S.A.		7,231
	873,451	*,e	Banco BPM S.p.A		1,782
	1,557,456		Banco Bradesco S.A.		11,714
	5,264,778		Banco Bradesco S.A. (Preference)		42,980
	12,136,705		Banco Comercial Portugues S.A.		2,520
	41,666,620		Banco de Chile		5,835
	24,862		Banco de Credito e Inversiones		1,566
	1,930,393		Banco de Oro Universal Bank		5,326
	447,335		Banco de Sabadell S.A.		434
	365,900	g	Banco del Bajio S.A.		605
	1,481,832		Banco do Brasil S.A.		16,224

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,335,600		Banco do Estado do Rio Grande do Sul	$	7,249
	16,063,377	*,†	Banco Espirito Santo S.A.		175
	143,400	g	Banco Inter S.A.		652
	125,000	*	Banco Inter SA		1,707
	6,796,047		Banco Itau Holding Financeira S.A.		57,297
	45,200		Banco Macro S.A. (ADR) (Class B)		1,176
	713,548		Banco Santander Brasil S.A.		7,785
	51,314,261		Banco Santander Chile S.A.		3,615
	26,690		Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		34
	426,490		Banco Santander S.A.		1,735
	13,000,233		Banco Santander S.A.		52,896
	176,366		BanColombia S.A.		2,002
	592,602		BanColombia S.A. (Preference)		7,322
	100,544		BancorpSouth Bank		2,977
	175,400		Bangkok Bank PCL (ADR)		995
	1,483,500		Bangkok Bank PCL (Foreign)		8,531
	282,155		Bank AlBilad		1,990
	302,100		Bank Alfalah Ltd		79
	303,959		Bank Al-Jazira		1,095
	5,945	e	Bank First Corp		393
	220,874	*	Bank Hapoalim Ltd		1,740
	457,563		Bank Leumi Le-Israel		3,258
	308,705	*	Bank Millennium S.A.		440
	25,349,288		Bank of America Corp		739,439
	872,300		Bank of Beijing Co Ltd		656
	152,500		Bank of Chengdu Co Ltd		174
	1,369,700		Bank of China Ltd		687
	127,438,572		Bank of China Ltd (Hong Kong)		49,978
	14,375		Bank of Commerce Holdings		157
	1,875,600		Bank of Communications Co Ltd		1,433
	20,370,946		Bank of Communications Co Ltd (Hong Kong)		13,297
	1,380,905		Bank of East Asia Ltd		3,401
	35,083		Bank of Georgia Group plc		578
	35,600		Bank of Hangzhou Co Ltd		42
	14,662		Bank of Hawaii Corp		1,260
	11,385,706		Bank of Ireland Group plc		45,115
	29,800		Bank of Iwate Ltd		720
	79,700		Bank of Jiangsu Co Ltd		75
	339,394		Bank of Kaohsiung		105
	326,797		Bank of Kyoto Ltd		12,856
	13,605		Bank of Marin Bancorp		564
	780,952		Bank of Montreal		57,520
	6,099		Bank of Nagoya Ltd		180
	366,300		Bank of Nanjing Co Ltd		441
	214,800		Bank of Ningbo Co Ltd		760
	1,271,009	e	Bank of Nova Scotia		72,192
	305,310		Bank of NT Butterfield & Son Ltd		9,049
	12,100		Bank of Okinawa Ltd		381
	5,527		Bank of Princeton		161
	442,635	e	Bank of Queensland Ltd		2,964
	6,654		Bank of Saga Ltd		91
	448,518		Bank of Shanghai Co Ltd		588

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,095,828		Bank of the Philippine Islands	$	1,967
	106,400		Bank of the Ryukyus Ltd		1,102
	173,579		Bank OZK		4,733
	244,276		Bank Pekao S.A.		6,236
	46,668,057		Bank Rakyat Indonesia		13,551
	930,800	*	Bank Tabungan Pensiunan Nasional Syariah Tbk PT		216
	28,842		Bank Zachodni WBK S.A.		2,255
	4,264	*	Bank7 Corp		80
	60,391		BankFinancial Corp		719
	151,797		Bankia S.A.		286
	182,729		Bankinter S.A.		1,153
	57,951		BankUnited		1,948
	6,771		Bankwell Financial Group, Inc		186
	35,575		Banner Corp		1,998
	1,931		Banque Cantonale Vaudoise		1,478
	444,761		Banque Saudi Fransi		3,834
	40,390		Bar Harbor Bankshares		1,007
	1,544,815		Barclays plc		2,846
	813,802	g	BAWAG Group AG.		32,024
	12,389	*	Baycom Corp		281
	738,386		BB&T Corp		39,408
	46,100		BBVA Banco Frances S.A. (ADR)		200
	14,483		BCB Bancorp, Inc		186
	162,780		Bendigo Bank Ltd		1,263
	240,961		Berkshire Hills Bancorp, Inc		7,058
	793,448		BNP Paribas		38,575
	7,723,499		BOC Hong Kong Holdings Ltd		26,208
	17,635		BOK Financial Corp		1,396
	85,167		Boston Private Financial Holdings, Inc		993
	12,031	*	BRE Bank S.A.		1,043
	16,293		Bridge Bancorp, Inc		482
	36,376	*	Bridgewater Bancshares, Inc		434
	203,959		Brookline Bancorp, Inc		3,004
	20,185		Bryn Mawr Bank Corp		737
	235,199		BS Financial Group, Inc		1,412
	4,860,862		Bumiputra-Commerce Holdings BHD		5,840
	11,571	e	Business First Bancshares, Inc		282
	23,763	*	Byline Bancorp, Inc		425
	3,644		C&F Financial Corp		192
	275,263		Cadence BanCorp		4,828
	3,306,747		CaixaBank S.A.		8,674
	3,833	e	Cambridge Bancorp		288
	20,801		Camden National Corp		901
	63,319		Can Fin Homes Ltd		352
	359,689	e	Canadian Imperial Bank of Commerce		29,677
	113,431		Canadian Western Bank		2,848
	65,620	*	Canara Bank		169
	8,377	*	Capital Bancorp, Inc		114
	12,927		Capital City Bank Group, Inc		355
	106,219		Capitec Bank Holdings Ltd		9,029
	139,167		Capitol Federal Financial		1,918
	15,308		Capstar Financial Holdings, Inc		254
	22,139		Carolina Financial Corp		787
	23,568	*,e	Carter Bank & Trust		445

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	303,682		Cathay General Bancorp	$	10,548
	19,576		CBTX, Inc		546
	232,692		Centerstate Banks of Florida, Inc		5,581
	265,211		Central Pacific Financial Corp		7,532
	11,706		Central Valley Community Bancorp		238
	2,949		Century Bancorp, Inc		258
	3,508,336		Chang Hwa Commercial Bank		2,447
	381,286	g	Charter Court Financial Services Group plc		1,418
	3,583		Chemung Financial Corp		150
	266,413	e	Chiba Bank Ltd		1,378
	30,379,481		China Citic Bank		16,197
	71,200		China CITIC Bank Corp Ltd		56
	467,600		China Construction Bank Corp		458
	138,582,359		China Construction Bank Corp (Hong Kong)		105,594
	2,021,800		China Everbright Bank Co Ltd		1,116
	6,629,685		China Everbright Bank Co Ltd (Hong Kong)		2,824
	2,913,896		China Merchants Bank Co Ltd		13,859
	1,973,974		China Merchants Bank Co Ltd (Class A)		9,626
	1,700,100		China Minsheng Banking Corp Ltd		1,435
	6,544,671		China Minsheng Banking Corp Ltd (Hong Kong)		4,449
	18,509,781		Chinatrust Financial Holding Co		12,287
	2,605,584		Chongqing Rural Commercial Bank		1,387
	435,200	e	Chugoku Bank Ltd		4,110
	7,300		Chukyo Bank Ltd		143
	372,265		CIT Group, Inc		16,867
	9,363,066		Citigroup, Inc		646,801
	12,815		Citizens & Northern Corp		337
	3,764,225		Citizens Financial Group, Inc		133,141
	16,535	e	City Holding Co		1,261
	360,452		City Union Bank Ltd		1,112
	15,402		Civista Bancshares, Inc		335
	16,863		CNB Financial Corp		484
	7,541	*	Coastal Financial Corp		114
	10,405		Codorus Valley Bancorp, Inc		242
	18,502	*,e	Collector AB		98
	7,690	e	Colony Bankcorp Inc		118
	77,478		Columbia Banking System, Inc		2,859
	56,908	*	Columbia Financial, Inc		899
	16,983		Comdirect Bank AG.		219
	44,985		Comerica, Inc		2,969
	37,326		Commerce Bancshares, Inc		2,264
	10,342		Commerce Union Bancshares, Inc		248
	4,113,751	*	Commercial Bank of Qatar QSC		4,877
	1,984,362		Commercial International Bank		9,454
	1,230,320		Commerzbank AG.		7,122
	1,622,680		Commonwealth Bank of Australia		88,516
	53,559		Community Bank System, Inc		3,304
	27,025		Community Bankers Trust Corp		232
	4,906		Community Financial Corp		164
	23,860		Community Trust Bancorp, Inc		1,016
	395,929		Concordia Financial Group Ltd		1,526
	247,370		ConnectOne Bancorp, Inc		5,492
	46,530,347		Corpbanca S.A.		352

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	93,141		Credicorp Ltd (NY)	$	19,414
	4,788,549		Credit Agricole S.A.		57,960
	41,755		Credito Emiliano S.p.A.		225
	3,988,352	*	Credito Valtellinese S.p.A		272
	7,207	*	CrossFirst Bankshares, Inc		103
	20,015	e	Cullen/Frost Bankers, Inc		1,772
	49,859	*	Customers Bancorp, Inc		1,034
	140,871		CVB Financial Corp		2,940
	811,199		CYBG plc		1,143
	5,646,074	*,†	Cyprus Popular Bank Public Co Ltd		62
	330,427		Dah Sing Banking Group Ltd		444
	75,908		Dah Sing Financial Holdings Ltd		281
	114,850		Daishi Hokuetsu Financial Group, Inc		2,908
	243,319		Danske Bank AS		3,385
	1,244,189		DBS Group Holdings Ltd		22,509
	597,178	g	Deutsche Pfandbriefbank AG.		7,281
	248,477		Development Credit Bank Ltd		685
	73,719		Dewan Housing Finance Corp Ltd		40
	123,164		DGB Financial Group Co Ltd		767
	49,797		Dime Community Bancshares		1,066
	3,596	e	DNB Financial Corp		160
	526,637		DNB NOR Holding ASA		9,284
	806,706		Doha Bank QSC		569
	4,387,917	*	Dubai Islamic Bank PJSC		6,270
	9,835,607		E.Sun Financial Holding Co Ltd		8,320
	63,801		Eagle Bancorp, Inc		2,847
	482,949		East West Bancorp, Inc		21,390
	310,200	*	EastWest Banking Corp		71
	62,900		Ehime Bank Ltd		636
	6,708	*	Entegra Financial Corp		202
	10,494		Enterprise Bancorp, Inc		315
	70,729		Enterprise Financial Services Corp		2,882
	14,810		Equitable Group, Inc		1,160
	15,694	*	Equity Bancshares, Inc		421
	1,101,018		Erste Bank der Oesterreichischen Sparkassen AG.		36,388
	7,040	*	Esquire Financial Holdings, Inc		175
	10,518		ESSA Bancorp, Inc		173
	528,218		Essent Group Ltd		25,180
	2,009,024	*	Eurobank Ergasias S.A.		1,945
	4,847		Evans Bancorp, Inc		181
	1,051,777		Far Eastern International Bank		407
	9,701	e	Farmers & Merchants Bancorp, Inc		252
	29,807		Farmers National Banc Corp		432
	18,580		FB Financial Corp		698
	65,174		Federal Agricultural Mortgage Corp (Class C)		5,322
	707,190		Federal Bank Ltd		903
	3,231	e	Fidelity D&D Bancorp, Inc		201
	3,830,644		Fifth Third Bancorp		104,883
	43,079		Financial Institutions, Inc		1,300
	1,095,707		FinecoBank Banca Fineco S.p.A		11,593
	123,029		First Bancorp (NC)		4,417
	804,336		First Bancorp (Puerto Rico)		8,027
	9,304		First Bancorp, Inc		256
	19,869		First Bancshares, Inc		642

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,960		First Bank	$	173
	145,701		First Busey Corp		3,683
	10,151		First Business Financial Services, Inc		244
	3,329	e	First Capital Inc		193
	10,305	e	First Choice Bancorp		220
	5,360		First Citizens Bancshares, Inc (Class A)		2,528
	317,767		First Commonwealth Financial Corp		4,220
	16,923		First Community Bancshares, Inc		548
	48,330		First Defiance Financial Corp		1,400
	101,887		First Financial Bancorp		2,494
	136,978	e	First Financial Bankshares, Inc		4,565
	13,097		First Financial Corp		569
	9,095,487		First Financial Holding Co Ltd		6,387
	8,024		First Financial Northwest, Inc		119
	97,639		First Foundation, Inc		1,491
	5,238		First Guaranty Bancshares, Inc		116
	172,012		First Hawaiian, Inc		4,593
	626,927		First Horizon National Corp		10,156
	207,630		First International Bank Of Israel Ltd		5,527
	18,311		First Internet Bancorp		392
	85,471		First Interstate Bancsystem, Inc		3,439
	118,494		First Merchants Corp		4,460
	14,298		First Mid-Illinois Bancshares, Inc		495
	199,365		First Midwest Bancorp, Inc		3,884
	22,797		First National Financial Corp		671
	10,057		First Northwest Bancorp		174
	42,045		First of Long Island Corp		957
	37,427		First Republic Bank		3,619
	104,432		Flagstar Bancorp, Inc		3,901
	35,142		Flushing Financial Corp		710
	74,810		FNB Corp		863
	17,516		FNCB Bancorp Inc		137
	70,738		Franklin Financial Network, Inc		2,137
	4,319	e	Franklin Financial Services Corp		154
	7,222		FS Bancorp, Inc		379
	25,451		Fukuoka Financial Group, Inc		483
	400,184		Fulton Financial Corp		6,475
	12,840	*,e	FVCBankcorp, Inc		225
	75,394	e	Genworth MI Canada, Inc		2,993
	1,301,929	e	Genworth Mortgage Insurance Australia Ltd		2,990
	25,541		German American Bancorp, Inc		819
	150,532		Glacier Bancorp, Inc		6,091
	11,622		Great Southern Bancorp, Inc		662
	329,285		Great Western Bancorp, Inc		10,866
	3,917		Greene County Bancorp, Inc		107
	170,700		Gruh Finance Ltd		650
	7,180,317		Grupo Aval Acciones y Valores		2,682
	2,957,469		Grupo Financiero Banorte S.A. de C.V.		15,896
	103,300	e	Grupo Financiero Galicia S.A. (ADR) (Class B)		1,343
	2,067,165		Grupo Financiero Inbursa S.A.		2,629
	563,265		Grupo Security S.A.		194
	31,600	e	Grupo Supervielle S.A. (ADR)		101
	7,863		Guaranty Bancshares, Inc		241

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	208,200		Gunma Bank Ltd	$	679
	436,200		Habib Bank Ltd		330
	217,300	e	Hachijuni Bank Ltd		890
	315,862		Hana Financial Group, Inc		9,298
	322,751		Hancock Holding Co		12,360
	1,157,721		Hang Seng Bank Ltd		24,946
	76,106		Hanmi Financial Corp		1,429
	27,893	*	HarborOne Northeast Bancorp, Inc		281
	5,849		Hawthorn Bancshares Inc		139
	81,022		HDFC Bank Ltd		1,404
	90,782		Heartland Financial USA, Inc		4,062
	294,000		Heritage Commerce Corp		3,456
	37,747		Heritage Financial Corp		1,018
	489,648		Hilltop Holdings, Inc		11,698
	6,179		Hingham Institution for Savings		1,168
	128,600	e	Hiroshima Bank Ltd		639
	11,200		Hokkoku Bank Ltd		293
	310,000		Hokuhoku Financial Group, Inc		3,014
	6,537		Home Bancorp, Inc		255
	161,468		Home Bancshares, Inc		3,035
	80,932	*,e	Home Capital Group, Inc		1,574
	22,918	*	HomeStreet, Inc		626
	66,099		HomeTrust Bancshares, Inc		1,723
	552,496		Hong Leong Bank BHD		2,159
	94,156		Hong Leong Credit BHD		365
	123,923		Hope Bancorp, Inc		1,777
	126,827		Horizon Bancorp		2,202
	2,020,557		Housing Development Finance Corp		56,398
	12,777	*	Howard Bancorp, Inc		213
	4,657,133		HSBC Holdings plc		35,684
	5,368,169		Hua Nan Financial Holdings Co Ltd		3,623
	218,500		Huaxia Bank Co Ltd		226
	749,357		Huntington Bancshares, Inc		10,693
	456,992		Hyakugo Bank Ltd		1,466
	14,500		Hyakujushi Bank Ltd		299
	175,123		IBERIABANK Corp		13,229
	2,467,557		ICICI Bank Ltd		15,037
	199,071		ICICI Bank Ltd (ADR)		2,425
	7,880,089		IDFC Bank Ltd		4,475
	81,487		Independent Bank Corp (MA)		6,083
	162,670		Independent Bank Corp (MI)		3,467
	91,927		Independent Bank Group, Inc		4,836
	154,423		India Infoline Ltd		271
	36,947		Indian Bank		65
	103,550,706		Industrial & Commercial Bank of China		69,372
	2,385,800		Industrial & Commercial Bank of China Ltd		1,850
	895,240		Industrial Bank Co Ltd		2,202
	208,874		Industrial Bank of Korea		2,304
	13,311,079		ING Groep NV		139,057
	81,582		International Bancshares Corp		3,151
	9,093		Investar Holding Corp		216
	5,922,965		Investimentos Itau S.A. - PR		18,788
	544,005		Investors Bancorp, Inc		6,180
	541,290	*,†	Irish Bank Resolution Corp Ltd		0

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	872,634		Israel Discount Bank Ltd	$	3,835
	137,000	e	Iyo Bank Ltd		720
	99,074	*	Jammu & Kashmir Bank Ltd		47
	221,204	e	Japan Post Bank Co Ltd		2,149
	465,495		JB Financial Group Co Ltd		2,187
	6,735,035		JPMorgan Chase & Co		792,646
	80,555		Juroku Bank Ltd		1,773
	39,179		Jyske Bank		1,265
	54,600		Kansai Mirai Financial Group, Inc		346
	556,505		Karnataka Bank Ltd		595
	506,089		Karur Vysya Bank Ltd		427
	200,000		Kasikornbank PCL - NVDR		1,024
	1,837,897		Kasikornbank PCL (Foreign)		9,455
	602,702		KB Financial Group, Inc		21,511
	154,675		KBC Groep NV		10,046
	160,520		Kearny Financial Corp		2,093
	54,100		Keiyo Bank Ltd		322
	1,252,835		Keycorp		22,351
	156,732		Kiatnakin Bank PCL (Foreign)		338
	492,000		King’s Town Bank		489
	168,300		Kiyo Bank Ltd		2,630
	67,000		Komercni Banka AS		2,265
	2,949,924		Krung Thai Bank PCL (Foreign)		1,660
	1,044,600		Kyushu Financial Group, Inc		4,274
	206,141		Lakeland Bancorp, Inc		3,181
	65,259		Lakeland Financial Corp		2,870
	55,158	e	Laurentian Bank of Canada		1,875
	12,948		LCNB Corp		230
	169,165		LegacyTexas Financial Group, Inc		7,364
	12,749	*,e	LendingTree, Inc		3,958
	5,479		Level One Bancorp, Inc		132
	1,129,294		Liberbank S.A.		345
	209,098		LIC Housing Finance Ltd		1,112
	14,344		Liechtensteinische Landesbank AG.		904
	26,813	e	Live Oak Bancshares, Inc		485
	83,794,018		Lloyds TSB Group plc		55,549
	18,435		Luther Burbank Corp		209
	609,512		M&T Bank Corp		96,285
	30,599		Macatawa Bank Corp		318
	9,509		Mackinac Financial Corp		147
	7,389	*,e	MainStreet Bancshares Inc		156
	3,689,845		Malayan Banking BHD		7,497
	629,638		Malaysia Building Society		126
	5,923	*	Malvern Bancorp, Inc		129
	3,356,890	*	Masraf Al Rayan		3,261
	343,100		MCB Bank Ltd		372
	5,780,123		Mediobanca S.p.A.		63,095
	8,788,214		Mega Financial Holding Co Ltd		8,141
	27,850		Mercantile Bank Corp		913
	37,327		Merchants Bancorp		617
	275,155		Meridian Bancorp, Inc		5,159
	160,780		Meta Financial Group, Inc		5,243
	64,671	*,e	Metro Bank plc		159

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,133,268		Metropolitan Bank & Trust	$	5,459
	18,810	*	Metropolitan Bank Holding Corp		740
	1,020,230		MGIC Investment Corp		12,834
	7,133	e	Mid Penn Bancorp, Inc		183
	23,689		Midland States Bancorp, Inc		617
	21,112		MidWestOne Financial Group, Inc		644
	8,598,460		Mitsubishi UFJ Financial Group, Inc		43,791
	170,603		Mitsui Trust Holdings, Inc		6,178
	28,500		Miyazaki Bank Ltd		642
	24,338		Mizrahi Tefahot Bank Ltd		605
	8,485,144		Mizuho Financial Group, Inc		13,040
	5,021	*,e	MMA Capital Holdings Inc		151
	8,749,134	g	Moneta Money Bank AS		26,962
	204,989	*	Mr Cooper Group, Inc		2,177
	16,368		Musashino Bank Ltd		286
	7,451		MutualFirst Financial, Inc		235
	10,003		MVB Financial Corp		199
	16,392		Nanto Bank Ltd		385
	2,089,883		National Australia Bank Ltd		41,903
	246,005		National Bank Holdings Corp		8,411
	2,401,467	*	National Bank of Abu Dhabi PJSC		9,849
	380,375	e	National Bank of Canada		18,926
	1,683,021	*	National Bank of Greece S.A.		5,127
	213,000	*	National Bank Of Pakistan		39
	7,472		National Bankshares, Inc		299
	1,291,101		National Commercial Bank		15,858
	99,379		NBT Bancorp, Inc		3,636
	454,239		Nedbank Group Ltd		6,806
	416,667	e	New York Community Bancorp, Inc		5,229
	317,040	g	NIBC Holding NV		2,480
	16,959	*	Nicolet Bankshares, Inc		1,129
	75,760		Nishi-Nippon Financial Holdings, Inc		534
	568,720	*	NMI Holdings, Inc		14,935
	716,597		Nordea Bank Abp		5,083
	150,100		North Pacific Bank Ltd		320
	8,743		Northeast Bank		194
	44,832		Northfield Bancorp, Inc		720
	7,591		Northrim BanCorp, Inc		301
	105,814		Northwest Bancshares, Inc		1,734
	146,885	*	Norwegian Finans Holding ASA		1,240
	6,429	e	Norwood Financial Corp		203
	450,000	g	Nova Ljubljanska (GDR)		5,356
	331,898		Nova Ljubljanska Banka dd (ADR)		3,929
	8,660	e	Oak Valley Bancorp		145
	645,000		O-Bank Co Ltd		159
	157,667		OceanFirst Financial Corp		3,721
	367	*	Ocwen Financial Corp		1
	269,657	e	OFG Bancorp		5,905
	19,600		Ogaki Kyoritsu Bank Ltd		436
	3,595		Ohio Valley Banc Corp		131
	7,800	e	Oita Bank Ltd		210
	19,018		Old Line Bancshares, Inc		552
	181,466		Old National Bancorp		3,122
	90,140		Old Second Bancorp, Inc		1,102

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,026,247		OneSavings Bank plc	$	4,661
	11,026		OP Bancorp		108
	23,480		Opus Bank		511
	24,090		Origin Bancorp, Inc		813
	40,356		Oritani Financial Corp		714
	10,657		Orrstown Financial Services, Inc		233
	331,290		OTP Bank		13,800
	3,463,756	e	Oversea-Chinese Banking Corp		27,230
	17,242	*	Pacific Mercantile Bancorp		129
	227,096		Pacific Premier Bancorp, Inc		7,083
	117,063		PacWest Bancorp		4,254
	150,820		Paragon Group of Cos plc		894
	13,539		Park National Corp		1,284
	9,711		Parke Bancorp, Inc		216
	13,658		PCB Bancorp		225
	22,894		PCSB Financial Corp		458
	10,384	*	PDL Community Bancorp		146
	80,811		Peapack Gladstone Financial Corp		2,265
	5,123		Penns Woods Bancorp, Inc		237
	127,528		PennyMac Financial Services, Inc		3,874
	5,891		Peoples Bancorp of North Carolina, Inc		175
	85,255		Peoples Bancorp, Inc		2,712
	6,939		Peoples Financial Services Corp		314
	333,962		People’s United Financial, Inc		5,221
	17,286		People’s Utah Bancorp		489
	5,482,212	*	Permanent TSB Group Holdings plc		7,230
	1,049,200		Ping An Bank Co Ltd		2,296
	15,964		Pinnacle Financial Partners, Inc		906
	11,610	*	Pioneer Bancorp, Inc		145
	136,724	*	Piraeus Bank S.A.		459
	49,061	g	PNB Housing Finance Ltd		405
	1,353,414		PNC Financial Services Group, Inc		189,694
	287,354		Popular, Inc		15,540
	7,376,000	g	Postal Savings Bank of China Co Ltd		4,499
	835,903		Powszechna Kasa Oszczednosci Bank Polski S.A.		8,194
	26,074		Preferred Bank		1,366
	13,127		Premier Financial Bancorp, Inc		225
	14,870	e	Prosperity Bancshares, Inc		1,050
	4,425	*	Provident Bancorp, Inc		106
	6,095		Provident Financial Holdings, Inc		126
	175,361		Provident Financial Services, Inc		4,302
	9,964		Prudential Bancorp, Inc		169
	10,840,274		PT Bank Central Asia Tbk		23,176
	1,190,700		PT Bank Jabar Banten Tbk		132
	36,768,391		PT Bank Mandiri Persero Tbk		18,085
	6,161,019		PT Bank Negara Indonesia		3,188
	1,697,700		PT Bank Pembangunan Daerah Jawa Timur Tbk		76
	3,028,100		PT Bank Tabungan Negara Tbk		418
	2,986,284		Public Bank BHD		14,317
	968,102	*	Qatar Islamic Bank SAQ		4,147
	5,611,356	*	Qatar National Bank		29,769
	62,915		QCR Holdings, Inc		2,390
	583,256		Radian Group, Inc		13,322

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	654,323		Raiffeisen International Bank Holding AG.	$	15,175
	16,220		RBB Bancorp		319
	256,813	g	RBL Bank Ltd		1,192
	723	*	Red River Bancshares Inc		31
	1,187,400		Regional SAB de C.V.		5,445
	1,287,629		Regions Financial Corp		20,370
	93,069		Renasant Corp		3,258
	10,572		Republic Bancorp, Inc (Class A)		459
	44,254	*	Republic First Bancorp, Inc		186
	1,496,875		Resona Holdings, Inc		6,441
	3,078,377		RHB Capital BHD		4,147
	13,759	*,e	Richmond Mutual Bancorporation, Inc		192
	25,099		Ringkjoebing Landbobank A.S.		1,575
	20,240		Riverview Bancorp, Inc		149
	2,215,029		Riyad Bank		14,401
	5,200	*,†	Roskilde Bank		0
	1,737,446		Royal Bank of Canada		140,939
	1,729,317		Royal Bank of Scotland Group plc		4,408
	34,618		S&T Bancorp, Inc		1,265
	862,836		Samba Financial Group		6,583
	7,800		San ju San Financial Group, Inc		116
	169,688		Sandy Spring Bancorp, Inc		5,720
	85,400		San-In Godo Bank Ltd		521
	313,751		Saudi British Bank		2,547
	6,838		SB One Bancorp		154
	4,405,010	*	Sberbank of Russia (ADR)		62,298
	51,821	*	Seacoast Banking Corp of Florida		1,312
	182,280		Security Bank Corp		693
	18,472	*	Select Bancorp, Inc		214
	122,180		Senshu Ikeda Holdings, Inc		212
	49,972		ServisFirst Bancshares, Inc		1,657
	2,284,063	e	Seven Bank Ltd		6,275
	3,094,000		Shanghai Commercial & Savings Bank Ltd		5,197
	1,165,000		Shanghai Pudong Development Bank Co Ltd		1,934
	128,800	e	Shiga Bank Ltd		2,939
	18,700		Shikoku Bank Ltd		171
	614,205		Shinhan Financial Group Co Ltd		21,462
	2,296,706		Shinsei Bank Ltd		33,583
	1,187,979		Shizuoka Bank Ltd		8,903
	13,050		Shore Bancshares, Inc		201
	551,700		Siam Commercial Bank PCL (ADR)		2,129
	799,797		Siam Commercial Bank PCL (Foreign)		3,087
	15,484		Sierra Bancorp		411
	176,766		Signature Bank		21,074
	136,191		Simmons First National Corp (Class A)		3,391
	22,535,554		SinoPac Financial Holdings Co Ltd		8,787
	88,578	g	Skandiabanken ASA		640
	2,351,502		Skandinaviska Enskilda Banken AB (Class A)		21,607
	13,447	*	SmartFinancial, Inc		280
	88,542		Societe Generale		2,425
	2,686,305		South Indian Bank Ltd		412
	11,807		South Plains Financial Inc		192
	35,732		South State Corp		2,691
	9,829	*	Southern First Bancshares, Inc		392

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,376		Southern Missouri Bancorp, Inc	$	269
	46,278		Southern National Bancorp of Virginia, Inc		712
	34,350		Southside Bancshares, Inc		1,172
	61,311		Spar Nord Bank AS		552
	82,776		Sparebank Oestlandet		760
	371,757		SpareBank SR-Bank ASA		4,048
	345,681		Sparebanken Midt-Norge		3,744
	292,912		Sparebanken Nord-Norge		2,187
	14,382	*	Spirit of Texas Bancshares, Inc		310
	1,553		St Galler Kantonalbank		681
	2,171,786		Standard Bank Group Ltd		25,056
	4,936,192		Standard Chartered plc		41,434
	1,676,995	*	State Bank of India		6,417
	27,654		Sterling Bancorp, Inc		270
	94,414		Sterling Bancorp/DE		1,894
	56,296		Stock Yards Bancorp, Inc		2,065
	3,424,019		Sumitomo Mitsui Financial Group, Inc		117,657
	10,253		Summit Financial Group, Inc		262
	1,206,237		Suncorp Group Ltd		11,113
	1,518,029		SunTrust Banks, Inc		104,440
	95,800	*,e	Suruga Bank Ltd		402
	8,110	*	SVB Financial Group		1,695
	131,956		Svenska Handelsbanken AB		1,234
	79,346		Swedbank AB (A Shares)		1,143
	31,378	e	Sydbank AS		553
	43,683		Synovus Financial Corp		1,562
	1,243,303		Taichung Commercial Bank		475
	7,620,788		Taishin Financial Holdings Co Ltd		3,401
	3,954,055		Taiwan Business Bank		1,624
	12,787,505		Taiwan Cooperative Financial Holding		8,445
	321,287		TCF Financial Corp		12,231
	635,652		TCS Group Holding plc (ADR)		11,124
	7,225		Territorial Bancorp, Inc		206
	14,741	*	Texas Capital Bancshares, Inc		806
	16,018	*	Texcell-NetCom Co Ltd		172
	154,539	e	TFS Financial Corp		2,785
	1,999,700		Thanachart Capital PCL		3,728
	299,692	*	The Bancorp, Inc		2,967
	132,515	e	Timbercreek Financial Corp		966
	7,116		Timberland Bancorp, Inc		196
	243,980		Tisco Bank PCL		818
	8,941,987		TMB Bank PCL (Foreign)		459
	103,400		Toho Bank Ltd		244
	15,093	e	Tokyo TY Financial Group, Inc		197
	81,300		Tomony Holdings, Inc		265
	63,904	e	Tompkins Trustco, Inc		5,185
	2,341,759		Toronto-Dominion Bank		136,544
	16,200		Towa Bank Ltd		119
	107,920		TowneBank		3,001
	64,569		Trico Bancshares		2,344
	68,330	*	Tristate Capital Holdings, Inc		1,438
	25,615	*	Triumph Bancorp, Inc		817
	200,817		Trustco Bank Corp NY		1,637

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	103,933		Trustmark Corp	$	3,545
	2,981,545	*	Turkiye Garanti Bankasi AS		5,383
	302,964		Turkiye Halk Bankasi AS		351
	1,496,122	*	Turkiye Is Bankasi (Series C)		1,657
	16,472,158		Turkiye Sinai Kalkinma Bankasi AS		2,771
	152,644		UMB Financial Corp		9,858
	158,150		Umpqua Holdings Corp		2,603
	494,238	g	Unicaja Banco S.A.		393
	5,001,398		UniCredit S.p.A.		58,951
	737,230		Union Bank Of Taiwan		248
	4,204	e	Union Bankshares, Inc		133
	1,094,200		United Bank Ltd		968
	102,679		United Bankshares, Inc		3,888
	247,286		United Community Banks, Inc		7,011
	153,912		United Community Financial Corp		1,659
	135,997		United Financial Bancorp, Inc		1,854
	1,623,366		United Overseas Bank Ltd		30,170
	15,928		United Security Bancshares		168
	8,801		Unity Bancorp, Inc		195
	103,008		Univest Corp of Pennsylvania		2,628
	4,646,986		US Bancorp		257,164
	9,120		Valiant Holding		907
	342,268		Valley National Bancorp		3,720
	300,135		Van Lanschot Kempen NV (ADR)		6,592
	54,406		Veritex Holdings, Inc		1,320
	216,107		VTB Bank		280
	1,632,097		VTB Bank OJSC (GDR)		2,112
	143,133		Walker & Dunlop, Inc		8,005
	83,318		Washington Federal, Inc		3,082
	19,672		Washington Trust Bancorp, Inc		950
	37,177		Waterstone Financial, Inc		639
	101,593		Webster Financial Corp		4,762
	8,526,631	n	Wells Fargo & Co		430,083
	109,958		WesBanco, Inc		4,109
	24,041		West Bancorporation, Inc		523
	27,018		Westamerica Bancorporation		1,680
	198,917		Western Alliance Bancorp		9,166
	26,955		Western New England Bancorp, Inc		257
	3,108,900		Westpac Banking Corp		62,093
	59,086		Wintrust Financial Corp		3,819
	366,631	*	Woori Financial Group, Inc		3,811
	203,571		WSFS Financial Corp		8,977
	12,600		Yamagata Bank Ltd		171
	124,100	e	Yamaguchi Financial Group, Inc		857
	14,200		Yamanashi Chuo Bank Ltd		136
	3,214,088		Yes Bank Ltd		1,878
	341,289		Zions Bancorporation		15,194
			TOTAL BANKS		7,809,067
CAPITAL GOODS - 7.7%
	662,244		3M Co		108,873
	252,898		A.O. Smith Corp		12,066
	100,567		Aalberts Industries NV		3,983
	43,555		Aaon, Inc		2,001

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	182,497		AAR Corp	$	7,521
	1,831,519		ABB Ltd		36,018
	1,737,447		Aboitiz Equity Ventures, Inc		1,778
	189,000		AcBel Polytech, Inc		130
	449,625		ACS Actividades Construccion y Servicios S.A.		17,965
	57,560		Actuant Corp (Class A)		1,263
	34,408		Acuity Brands, Inc		4,638
	645,212		Adani Enterprises Ltd		1,330
	63,595	*	Adapteo Oyj		727
	15,700		Advan Co Ltd		168
	229,705		Advanced Drainage Systems, Inc		7,413
	61,800		AECC Aviation Power Co Ltd		190
	644,713	*	Aecom Technology Corp		24,215
	348,585		Aecon Group, Inc		4,799
	31,582	*	Aegion Corp		675
	117,978	*	AerCap Holdings NV		6,459
	76,700	*	Aerojet Rocketdyne Holdings, Inc		3,874
	22,308	*	Aerovironment, Inc		1,195
	26,755	e	AFG Arbonia-Forster Hldg		321
	24,218	e	AG Growth International Inc		814
	29,733		AGCO Corp		2,251
	46,489		AIA Engineering Ltd		1,170
	28,799		Aica Kogyo Co Ltd		853
	97,700		Aichi Corp		626
	34,400		Aida Engineering Ltd		280
	161,924		Air Lease Corp		6,772
	1,299,956		Airbus SE		168,771
	55,167		Aircastle Ltd		1,237
	112,000		Airtac International Group		1,334
	10,370		Alamo Group, Inc		1,221
	176,133		Albany International Corp (Class A)		15,880
	270,894		Alfa Laval AB		5,343
	5,257,714		Alfa S.A. de C.V. (Class A)		4,617
	21,289	g	Alimak Group AB		281
	261,629		Allegion plc		27,118
	20,635,183		Alliance Global Group, Inc		4,338
	23,937		Allied Motion Technologies, Inc		845
	633,212		Allison Transmission Holdings, Inc		29,793
	23,933		Alstom Projects India Ltd		270
	195,225		Alstom RGPT		8,087
	70,653		Alstom T&D India Ltd		190
	82,701		Altra Holdings, Inc		2,290
	109,422		Amada Co Ltd		1,186
	8,474		Amara Raja Batteries Ltd		86
	21,528	*	Ameresco, Inc		346
	21,538	*,e	American Superconductor Corp		169
	25,446	*	American Woodmark Corp		2,262
	348,063		Ametek, Inc		31,959
	2,601		Andritz AG.		106
	14,200		Anest Iwata Corp		126
	26,357		Apogee Enterprises, Inc		1,028
	130,740		Applied Industrial Technologies, Inc		7,426
	30,268	*	Aprogen KIC, Inc		46

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,885,751		Arabtec Holding Co	$	898
	217,558	e	Arcadis NV		4,066
	1,302,453		Arconic, Inc		33,864
	51,646		Arcosa, Inc		1,767
	15,018		Argan, Inc		590
	188,735	*	Armstrong Flooring, Inc		1,206
	84,048		Armstrong World Industries, Inc		8,127
	23,300		Asahi Diamond Industrial Co Ltd		134
	198,652		Asahi Glass Co Ltd		6,190
	351,232		Aselsan Elektronik Sanayi Ve Ticaret AS		1,250
	1,206,607		Ashok Leyland Ltd		1,171
	40,954		Ashoka Buildcon Ltd		56
	1,643,111		Ashtead Group plc		45,694
	13,604		Ashtrom Group Ltd		139
	1,569,418		Assa Abloy AB		34,890
	22,614		Astec Industries, Inc		703
	65,139		Astral Polytechnik Ltd		1,056
	157,482	*	Astronics Corp		4,627
	631,751	*	Atkore International Group, Inc		19,174
	180,588		Atlas Copco AB (A Shares)		5,561
	12,772		Atlas Copco AB (B Shares)		346
	99,058	*	ATS Automation Tooling Systems, Inc		1,354
	5,293	g	Aumann AG.		76
	89,200		AVIC Aircraft Co Ltd		195
	12,400	*	AVIC Shenyang Aircraft Co Ltd		54
	1,828,019		AviChina Industry & Technology Co		898
	61,115	*,e	Axon Enterprise, Inc		3,470
	262,276		Ayala Corp		4,479
	335,115		AZZ, Inc		14,598
	48,010		Badger Daylighting Ltd		1,475
	3,590,166		BAE Systems plc		25,143
	573,154		Balfour Beatty plc		1,563
	249,977	*,e	Ballard Power Systems, Inc		1,221
	17,200		Bando Chemical Industries Ltd		132
	100,000	*	Baoye Group Co Ltd		56
	222,292		Barloworld Ltd		1,694
	79,699		Barnes Group, Inc		4,108
	7,813		BayWa AG.		221
	70,642	*	Beacon Roofing Supply, Inc		2,369
	4,135		BEML Ltd		56
	1,156,837	*	Berjaya Corp BHD		68
	667,000		BES Engineering Corp		167
	201,088		Besalco S.A.		159
	13,735		BGF Co Ltd		69
	6,599,136		Bharat Electronics Ltd		10,096
	235,408	e	Bidvest Group Ltd		2,967
	8,354	e	Biesse S.p.A.		97
	239,570		Bizlink Holdings Inc		1,656
	56,806	*,e	Bloom Energy Corp		185
	26,900	*	Blue Bird Corp		512
	10,802		Blue Star Ltd		122
	10,631	*,e	BlueLinx Holdings, Inc		344
	569,984	*	BMC Stock Holdings, Inc		14,922
	5,249	e	Bobst Group AG.		270

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	238,700	g	BOC Aviation Ltd	$	2,203
	335,578		Bodycote plc		2,955
	1,242,025		Boeing Co		472,553
	2,101,965	*,e	Bombardier, Inc		2,840
	46,099	e	Boskalis Westminster		961
	3,439		Bossard Holding AG.		474
	193,746		Bouygues S.A.		7,759
	16,591		Brenntag AG.		802
	49,591		Briggs & Stratton Corp		301
	295,000		Brighton-Best International Taiwan, Inc		318
	32,428	e	Bucher Industries AG.		10,144
	21,524		Budimex S.A.		673
	21,040		Bufab AB		220
	721,170	*	Builders FirstSource, Inc		14,838
	118,500		Bunka Shutter Co Ltd		1,017
	313,519		Bunzl plc		8,195
	17,039	e	Burckhardt Compression Holding AG.		4,268
	2,400		Burkhalter Holding AG.		173
	46,138		BWX Technologies, Inc		2,640
	261,811		CAE, Inc		6,652
	105,345	e	Caesarstone Sdot-Yam Ltd		1,750
	17,396	*	CAI International, Inc		379
	56,743		Carbone Lorraine		1,768
	23,441		Carborundum Universal Ltd		99
	28,353	e	Cargotec Corp (B Shares)		912
	245,090		Carlisle Cos, Inc		35,670
	1,398,973		Caterpillar, Inc		176,704
	148,100		Central Glass Co Ltd		3,126
	2,492		Cera Sanitaryware Ltd		94
	542,825		CH Karnchang PCL		407
	37,655	*	Chart Industries, Inc		2,348
	209,206		Cheil Industries, Inc		15,675
	463,837		Chemring Group plc		1,122
	430,844		Chicony Power Technology Co Ltd		777
	1,058,500		China Aircraft Leasing Group Holdings Ltd		1,081
	106,780		China Avionics Systems Co Ltd		212
	102,900		China Communications Construction Co Ltd		146
	3,847,192		China Communications Construction Co Ltd (Hong Kong)		3,008
	2,355,371		China Communications Services Corp Ltd		1,335
	1,554,500		China Conch Venture Holdings Ltd		5,749
	153,875		China Fangda Group Co Ltd		62
	127,300		China Gezhouba Group Co Ltd		104
	196,000	e	China High Speed Transmission Equipment Group Co Ltd		120
	95,040		China International Marine Containers Group Co Ltd		136
	227,700		China National Chemical Engineering Co Ltd		185
	5,534,943		China Railway Construction Corp		6,055
	557,700		China Railway Construction Corp Ltd		740
	977,100		China Railway Group Ltd		822
	3,056,127		China Railway Group Ltd (Hong Kong)		1,855
	667,800		China Shipbuilding Industry Co Ltd		516
	188,080	†	China Singyes Solar Technologies Holdings Ltd		19

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	80,700		China Spacesat Co Ltd	$	245
	1,943,760		China State Construction Engineering Corp Ltd		1,480
	1,572,685		China State Construction International Holdings Ltd		1,478
	124,637		China Yuchai International Ltd		1,614
	747,100	e	Chiyoda Corp		1,959
	5,000		Chiyoda Integre Co Ltd		99
	22,300		Chori Co Ltd		353
	25,600		Chudenko Corp		556
	164,650		CIMIC Group Ltd		3,498
	20,005	*	CIRCOR International, Inc		751
	4,847,796		Citic Pacific Ltd		6,119
	1,285,000		Citic Resources Holdings Ltd		80
	15,008		CJ Corp		1,028
	62	*	CJ Corp (Preference)		3
	3,610,524		CK Hutchison Holdings Ltd		31,874
	25,700	e	CKD Corp		309
	15,184	*,e	Climeon AB		109
	5,342,827		CNH Industrial NV		54,407
	3,906,610		CNH Industrial NV (NYSE)		39,652
	1,382,654	*	Cobham plc		2,665
	17,099	g	Cochin Shipyard Ltd		82
	151,664	*,e	Colfax Corp		4,407
	105,937		Columbus McKinnon Corp		3,859
	213,750		Comfort Systems USA, Inc		9,454
	80,047	*	Commercial Vehicle Group, Inc		577
	2,506,255		Compagnie de Saint-Gobain		98,227
	4,138		Compagnie d’Entreprises CFE		381
	178,900		COMSYS Holdings Corp		5,086
	27,226	*,e	Concrete Pumping Holdings Inc		108
	67,296		Construcciones y Auxiliar de Ferrocarriles S.A.		3,055
	40,039	*	Construction Partners Inc		624
	38,600		Contemporary Amperex Technology Co Ltd		387
	66,869	*	Continental Building Products, Inc		1,825
	191,450		Continental Engineering Corp		88
	2,933		Conzzeta AG.		2,554
	46,759	*	Cornerstone Building Brands, Inc		283
	14,185		Cosel Co Ltd		135
	59,312		Costain Group plc		114
	198,670	e	Cramo OYJ		2,126
	69,696		Crane Co		5,620
	3,539,321		CRRC Corp Ltd		2,470
	1,129,800		CRRC Corp Ltd (Class A)		1,159
	2,882		CS Wind Corp		77
	120,746	*	CSBC Corp Taiwan		101
	69,259		CSW Industrials, Inc		4,781
	1,858,000		CTCI Corp		2,497
	32,916		Cubic Corp		2,318
	113,575		Cummins, Inc		18,475
	199,203		Curtiss-Wright Corp		25,771
	100,824		Daelim Industrial Co		8,762
	4,368		Daetwyler Holding AG.		711
	206,680	*	Daewoo Engineering & Construction Co Ltd		834
	59,531		Daewoo International Corp		951
	33,159	*	Daewoo Shipbuilding & Marine Engineering Co Ltd		846

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,300	e	Dai-Dan Co Ltd	$	147
	106,973	e	Daifuku Co Ltd		5,565
	9,628		Daihen Corp		293
	25,600		Daiho Corp		679
	4,500		Daiichi Jitsugyo Co Ltd		130
	195,446		Daikin Industries Ltd		25,777
	24,500		Daiwa Industries Ltd		252
	8,576	e	Danieli & Co S.p.A.		152
	24,848		Danieli & Co S.p.A. (RSP)		266
	4,519		Dassault Aviation S.A.		6,393
	92,049		DCC plc		8,028
	1,158,567		Deere & Co		195,427
	13,100		Denyo Co Ltd		214
	321,830		Deutz AG.		1,866
	70,694	g	Dilip Buildcon Ltd		416
	327,304		Diploma plc		6,693
	110,130	*,e	DIRTT Environmental Solutions		498
	4,208,780		DMCI Holdings, Inc		675
	4,477,895		Dogan Sirketler Grubu Holdings		1,212
	44,882		Donaldson Co, Inc		2,337
	142,900		Dongfang Electric Corp Ltd		185
	67,490		Doosan Bobcat, Inc		1,996
	199,208	*	Doosan Heavy Industries and Construction Co Ltd		1,132
	77,558	*	Doosan Infracore Co Ltd		408
	44,104		Douglas Dynamics, Inc		1,966
	562,124		Dover Corp		55,965
	392,953	*,†	Drake & Scull International PJSC		30
	1,716,075	*,e	Drone Delivery Canada Corp		1,218
	3,542,452		Dubai Investments PJSC		1,247
	54,382	*	Ducommun, Inc		2,306
	44,086		Duerr AG.		1,144
	111,579	*	DXP Enterprises, Inc		3,874
	31,846	*	Dycom Industries, Inc		1,626
	1,303,200		Dynasty Ceramic PCL		86
	6,091		Eastern Co		151
	2,347,699		Eaton Corp		195,211
	63,565		Ebara Corp		1,708
	12,733		Eicher Motors Ltd		3,196
	70,060		Eiffage S.A.		7,263
	24,481		Elbit Systems Ltd		4,064
	8,834		Elco Holdings Ltd		251
	1,377		Electra Israel Ltd		437
	876,721		ElSwedy Cables Holding Co		721
	73,149	*,e,g	Eltel AB		157
	319,860		EMCOR Group, Inc		27,546
	261,587	*,e	Emeco Holdings Ltd		339
	145,930		Emerson Electric Co		9,757
	942,026		Empresa Brasileira de Aeronautica S.A.		4,061
	75,470		Encore Wire Corp		4,247
	39,311	*,e	Energous Corp		130
	37,233	*,e	Energy Recovery, Inc		345
	44,728		EnerSys		2,949
	60,303		Engineers India Ltd		100

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	763,425	*,e	Enphase Energy, Inc	$	16,971
	162,987		EnPro Industries, Inc		11,189
	312,000		Enric Energy Equipment Holdings Ltd		180
	348,023		Epiroc AB		3,591
	230,726		Epiroc AB (Class A)		2,499
	64,085		ESCO Technologies, Inc		5,099
	153,467		Escorts Ltd		1,259
	4,431	e	EVI Industries, Inc		141
	302,608	*,e	Evoqua Water Technologies Corp		5,150
	32,314		Exco Technologies Ltd		179
	8,660	e	FACC AG.		102
	458,960		Famur S.A.		414
	181,836	*	Fangda Carbon New Material Co Ltd		296
	64,439		Fanuc Ltd		12,180
	3,078,517		Far Eastern Textile Co Ltd		2,839
	952,898		Fastenal Co		31,131
	379,115		Federal Signal Corp		12,412
	20,648		Feelux Co Ltd		60
	1,304	e	Feintool International Holding AG.		74
	22,071		Ferguson plc		1,611
	528,668		Ferrovial S.A.		15,275
	3,974	*,e	FIGEAC-AERO		52
	380,633	e	Fincantieri S.p.A		404
	573,111		Finmeccanica S.p.A.		6,737
	234,551		Finning International, Inc		4,106
	31,934		Finolex Cables Ltd		175
	113,758		Flowserve Corp		5,314
	23,666		FLSmidth & Co AS		1,029
	44,177	*	Fluidra S.A.		524
	231,340		Fluor Corp		4,426
	134,073		Fomento de Construcciones y Contratas S.A.		1,537
	1,698,228		Fortive Corp		116,431
	250,397		Fortune Brands Home & Security, Inc		13,697
	2,631,124	e	Fosun International		3,257
	332,912	*	Foundation Building Materials, Inc		5,157
	65,095		Franklin Electric Co, Inc		3,112
	97,409	e	Fuji Electric Holdings Co Ltd		3,003
	34,392		Fuji Machine Manufacturing Co Ltd		515
	137,278	e	Fujikura Ltd		529
	36,400		Fujitec Co Ltd		472
	2,700		Fukuda Corp		105
	7,000		Fukushima Industries Corp		204
	3,892,500	e	Fullshare Holdings Ltd		127
	15,700		Furukawa Co Ltd		212
	79,800		Furukawa Electric Co Ltd		1,939
	34,119		Futaba Corp/Chiba		419
	64,250		Galliford Try plc		528
	2,878,203		Gamuda BHD		2,543
	34,119	*	Gardner Denver Holdings, Inc		965
	74,763	*	Gates Industrial Corp plc		753
	37,636	e	GATX Corp		2,918
	43,478	*	Gayatri Projects Ltd		66
	603,922		GEA Group AG.		16,292
	3,239		Geberit AG.		1,548

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,900		Gecoss Corp	$	55
	178,725	*	GEK Group of Cos S.A.		1,297
	9,121	*	Gencor Industries, Inc		106
	154,283	*	Generac Holdings, Inc		12,087
	507,865		General Dynamics Corp		92,802
	13,322,647		General Electric Co		119,104
	11,360	*	General Finance Corp		100
	6,225	e	Georg Fischer AG.		5,396
	40,544	*	Gibraltar Industries, Inc		1,863
	9,100	e	Giken Seisakusho Co, Inc		289
	20,882	e,g	Gima TT S.p.A		166
	27,856	e	Glory Ltd		783
	762,618	*	GMR Infrastructure Ltd		183
	101,684	*	GMS, Inc		2,920
	65,195		Godrej Industries Ltd		376
	17,326		Gorman-Rupp Co		603
	161,984		Graco, Inc		7,458
	162,860	e	GrafTech International Ltd		2,085
	676,875		Grafton Group plc		6,321
	10,105		Graham Corp		201
	48,174	e	Granite Construction, Inc		1,548
	187,922		Graphite India Ltd		773
	727,116	*	Great Lakes Dredge & Dock Corp		7,598
	29,730		Greaves Cotton Ltd		61
	117,533		Greenbrier Cos, Inc		3,540
	128,706		Griffon Corp		2,699
	328,884		Grupo Carso S.A. de C.V. (Series A1)		965
	10,023	*	Grupo Empresarial San Jose		74
	87,400	e	Grupo Rotoplas SAB de C.V.		62
	96,298		GS Engineering & Construction Corp		2,653
	38,700		GS Yuasa Corp		672
	75,103		GT Capital Holdings, Inc		1,221
	1,838,552		Gunkul Engineering PCL		186
	141,438		GWA International Ltd		324
	190,420		H&E Equipment Services, Inc		5,496
	701,813		Haitian International Holdings Ltd		1,437
	22,116		Haldex AB		113
	135,396		Hangzhou Steam Turbine Co		121
	118,879	e	Hanwa Co Ltd		3,264
	43,006		Hanwha Corp		907
	369,800		HAP Seng Consolidated BHD		871
	338,000	e	Harbin Power Equipment		89
	22,200	e	Harmonic Drive Systems, Inc		973
	684,572	*	Harsco Corp		12,979
	230,222		Havells India Ltd		2,335
	116,900		Hazama Ando Corp		872
	263,000	*,e	HC International, Inc		111
	413,984	*	HD Supply Holdings, Inc		16,218
	96,823		HDC Hyundai Development Co-Engineering & Construction		2,658
	29,615		HEG Ltd		399
	36,941		HEICO Corp		4,613
	255,390		HEICO Corp (Class A)		24,852

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	185,866	*	Heidelberger Druckmaschinen	$	229
	30,228		Helios Technologies, Inc		1,226
	214,248	*	Herc Holdings, Inc		9,965
	212,065		Hexcel Corp		17,417
	13,100		Hibiya Engineering Ltd		228
	115,791		Hillenbrand, Inc		3,576
	904,240		Hino Motors Ltd		7,493
	5,100		Hirata Corp		334
	39,000		Hisaka Works Ltd		313
	213,517	e	Hitachi Construction Machinery Co Ltd		5,186
	94,400		Hitachi Zosen Corp		308
	195,060		Hiwin Technologies Corp		1,700
	44,632		Hochtief AG.		5,086
	3,398,868		Honeywell International, Inc		575,089
	39,800		Hong Leong Industries BHD		98
	15,153		Hoshizaki Electric Co Ltd		1,194
	22,657		Hosken Consolidated Investments Ltd		142
	3,100		Hosokawa Micron Corp		108
	2,216,500		Howden Joinery Group plc		15,255
	2,285,000	*,†	Hsin Chong Construction Group Ltd		3
	58,900		Huangshi Dongbei Electrical Appliance Co Ltd		66
	69,947		Hubbell, Inc		9,191
	43,547		Huber & Suhner AG.		2,804
	45,310		Hudaco Industries Ltd		314
	13,228		Huntington Ingalls		2,802
	5,349		Hurco Cos, Inc		172
	4,211		Hy-Lok Corp		64
	2,333	*	Hyosung Heavy Industries Corp		61
	39,216		Hyster-Yale Materials Handling, Inc		2,146
	4,424		Hyundai Construction Equipment Co Ltd		117
	17,193		Hyundai Development Co		185
	4,849	*	Hyundai Electric & Energy System Co Ltd		45
	7,845		Hyundai Elevator Co Ltd		584
	135,624		Hyundai Engineering & Construction Co Ltd		5,239
	30,324	*	Hyundai Heavy Industries		3,139
	12,500		Hyundai Mipo Dockyard		471
	8,089		Hyundai Robotics Co Ltd		2,360
	22,577	*	Hyundai Rotem Co Ltd		367
	15,900		Idec Corp		291
	57,450		IDEX Corp		9,415
	8,631	*	IES Holdings, Inc		178
	2,582,612		IJM Corp BHD		1,350
	94,722		Illinois Tool Works, Inc		14,823
	182,394		IMI plc		2,153
	8,861	e	Implenia AG.		333
	82,477	e	Impregilo S.p.A.		180
	32,052	e	IMS-Intl Metal Service		541
	15,500		Inaba Denki Sangyo Co Ltd		681
	114,500		Inabata & Co Ltd		1,415
	10,702		Indus Holding AG.		437
	11,855	e	Industria Macchine Automatiche S.p.A.		830
	1,637,596	*	Industries Qatar QSC		4,914
	200,806		Indutrade AB		5,627
	1,567,477		Ingersoll-Rand plc		193,129

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,762		Insteel Industries, Inc	$	406
	64,414		Interpump Group S.p.A.		2,036
	2,199		Interroll Holding AG.		4,079
	35,012		Inwido AB		188
	59,400		Iochpe-Maxion S.A.		274
	299,164		IRB Infrastructure Developers Ltd		314
	76,335		IS Dongseo Co Ltd		1,918
	7,900		Iseki & Co Ltd		108
	2,506,406		Ishikawajima-Harima Heavy Industries Co Ltd		54,905
	1,853,450		Italian-Thai Development PCL		115
	12,752		Italmobiliare S.p.A		292
	2,051,939	e	Itochu Corp		42,503
	862,586		ITT, Inc		52,782
	72,400		Iwatani International Corp		2,452
	223,080		Jacobs Engineering Group, Inc		20,412
	152,889		Jain Irrigation Systems Ltd		42
	5,800	e	Jamco Corp		82
	23,960	e	Japan Pulp & Paper Co Ltd		837
	33,600	e	Japan Steel Works Ltd		651
	323,646		Jardine Matheson Holdings Ltd		17,321
	274,172		Jardine Strategic Holdings Ltd		8,201
	79,162	*	JELD-WEN Holding, Inc		1,527
	4,108,837		JG Summit Holdings (Series B)		5,747
	1,001,330		JGC Corp		13,215
	32,760		John Bean Technologies Corp		3,257
	280,762	g	John Laing Group plc		1,269
	139,697		Johnson Controls International plc		6,131
	205,375		Johnson Electric Holdings Ltd		368
	52,413	g	JOST Werke AG.		1,505
	284,036	e	JTEKT Corp		3,280
	27,718		Jungheinrich AG.		598
	2,032		Kaba Holding AG.		1,311
	11,029		Kadant, Inc		968
	62,614		Kajaria Ceramics Ltd		485
	278,753		Kajima Corp		3,672
	18,993		Kalpataru Power Transmission Ltd		132
	150,300	*	Kama Co Ltd		75
	28,703		Kaman Corp		1,707
	15,000		Kamei Corp		152
	140,600		Kanamoto Co Ltd		3,508
	621,500		Kandenko Co Ltd		5,575
	354,200		Kanematsu Corp		4,001
	1,316,705	e	KAP Industrial Holdings Ltd		411
	24,502		Kardex AG.		3,383
	12,100		Katakura Industries Co Ltd		150
	46,877	e	Kawasaki Heavy Industries Ltd		1,045
	13,135		KCC Corp		2,393
	136,665		KEC International Ltd		528
	18,925		KEI Industries Ltd		145
	83,913		Keihan Electric Railway Co Ltd		3,739
	46,340		Keller Group plc		322
	8,008		Kendrion NV		161
	93,370		Kennametal, Inc		2,870

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,512		KEPCO Engineering & Construction Co, Inc	$	120
	1,347,116		Keppel Corp Ltd		5,785
	184,100		Kerjaya Prospek Group BHD		59
	75,083	e	Kier Group plc		108
	257,200		Kinden Corp		3,825
	30,000		King Slide Works Co Ltd		341
	22,542		Kingspan Group plc		1,101
	95,630		KION Group AG.		5,029
	37,500		Kitz Corp		251
	43,165		Kloeckner & Co AG.		262
	1,351,424		KOC Holding AS		4,517
	8,129		Koenig & Bauer AG.		318
	30,834		Kolon Corp		415
	212,545		Komatsu Ltd		4,901
	2,119	e	Komax Holding AG.		446
	87,290		Komori Corp		924
	47,792		Kone Oyj (Class B)		2,720
	46,471		Konecranes Oyj		1,489
	105,526		Kongsberg Gruppen ASA		1,515
	1,488,723	e	Koninklijke BAM Groep NV		3,715
	131,352		Koninklijke Volkerwessels NV		2,325
	153,246		Korea Aerospace Industries Ltd		5,009
	2,604		Korea Electric Terminal Co Ltd		101
	46,632	*,e	Kornit Digital Ltd		1,435
	95,324	*	Kratos Defense & Security Solutions, Inc		1,773
	9,109		Krones AG.		550
	370,025		Kubota Corp		5,628
	273,700		Kumagai Gumi Co Ltd		7,824
	137,886		Kumho Industrial Co Ltd		1,429
	184,000		Kung Long Batteries Industrial Co Ltd		860
	51,046		Kurita Water Industries Ltd		1,374
	16,600	e	Kyokuto Kaihatsu Kogyo Co Ltd		201
	527,100		Kyowa Exeo Corp		12,846
	46,200	e	Kyudenko Corp		1,549
	2,773		Kyung Dong Navien Co Ltd		92
	947,294		L3Harris Technologies, Inc		197,643
	1,442		Lakshmi Machine Works Ltd		75
	525,105		Larsen & Toubro Ltd		10,931
	4,298	*	Lawson Products, Inc		166
	39,171	*	LB Foster Co (Class A)		849
	119,649		Legrand S.A.		8,535
	15,713	e	Lehto Group Oyj		37
	66,522		Lennox International, Inc		16,163
	211,284		LG Corp		12,365
	2,786		LG Hausys Ltd		140
	129,762		LG International Corp		1,860
	54,243		Lifco AB		2,557
	4,359		LIG Nex1 Co Ltd		130
	12,610		Lincoln Electric Holdings, Inc		1,094
	414,271		Lindab International AB		4,222
	11,178		Lindsay Corp		1,038
	10,328		LISI		286
	52,236	e	LIXIL Group Corp		923
	441,400		Lockheed Martin Corp		172,172

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,863,000		Lonking Holdings Ltd	$	1,769
	104,804		Lotte Corp		3,173
	89,632		LS Cable Ltd		3,552
	8,183		LS Industrial Systems Co Ltd		329
	27,776	e	Luxfer Holdings PLC		433
	18,857	*	Lydall, Inc		470
	28,181		Mabuchi Motor Co Ltd		1,057
	616,200		Maeda Corp		5,404
	10,900	e	Maeda Kosen Co Ltd		155
	211,500		Maeda Road Construction Co Ltd		4,622
	19,117		Magellan Aerospace Corp		215
	86,897	e	Maire Tecnimont S.p.A		219
	12,049		Makino Milling Machine Co Ltd		528
	68,993		Makita Corp		2,189
	891,600		Malaysian Resources Corp BHD		157
	11,253		MAN AG.		562
	34,470	e	Manitou BF S.A.		676
	1,576,242	*	Manitowoc Co, Inc		19,703
	254,100		Marcopolo S.A.		199
	2,748,785		Marubeni Corp		18,332
	878,469	e	Masco Corp		36,615
	51,294	*	Masonite International Corp		2,975
	284,193	*	Mastec, Inc		18,453
	13,300		Max Co Ltd		224
	96,716	e	Maxar Technologies, Inc		735
	1,326		MBB SE		84
	304,800		Megawide Construction Corp		110
	1,122,224		Meggitt plc		8,754
	19,600		Meidensha Corp		338
	2,191,495		Melrose Industries plc		5,429
	113,266	*	Mercury Systems, Inc		9,194
	370,579	*	Meritor, Inc		6,856
	172,300		Metallurgical Corp of China Ltd		67
	2,310,000		Metallurgical Corp of China Ltd (Hong Kong)		518
	18,000		METAWATER Co Ltd		613
	178,692		Metso Oyj		6,668
	18,413	*	Middleby Corp		2,152
	35,000		Mie Kotsu Group Holdings, Inc		178
	73,147	*	Milacron Holdings Corp		1,219
	55,980		Millat Tractors Ltd		251
	45,005		Miller Industries, Inc		1,499
	351,887		Minebea Co Ltd		5,617
	1,139,200	e	Miraito Holdings Corp		17,228
	260,706		MISUMI Group, Inc		6,176
	1,724,060		Mitsubishi Corp		42,451
	1,612,329		Mitsubishi Electric Corp		21,509
	197,712		Mitsubishi Heavy Industries Ltd		7,772
	33,800		Mitsubishi Nichiyu Forklift Co Ltd		322
	11,650		Mitsuboshi Belting Co Ltd		192
	2,823,751		Mitsui & Co Ltd		46,384
	42,700	*	Mitsui Engineering & Shipbuilding Co Ltd		377
	50,600		Miura Co Ltd		1,419
	51,732		Monadelphous Group Ltd		551

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	730,120	e	MonotaRO Co Ltd	$	19,259
	248,951		Moog, Inc (Class A)		20,195
	717,342		Morgan Crucible Co plc		2,297
	83,821		Morgan Sindall plc		1,255
	122,500		Mori Seiki Co Ltd		1,751
	15,800		Morita Holdings Corp		249
	371,596		Mota Engil SGPS S.A.		733
	177,848	*	MRC Global, Inc		2,157
	82,249		MSC Industrial Direct Co (Class A)		5,966
	92,456		MTU Aero Engines Holding AG.		24,567
	394,633		Mueller Industries, Inc		11,318
	486,503		Mueller Water Products, Inc (Class A)		5,468
	161,400		Muhibbah Engineering M BHD		93
	52,384	g	Munters Group AB		226
	210,575		Murray & Roberts Holdings Ltd		183
	98,464	*	MYR Group, Inc		3,081
	86,976		Nabtesco Corp		2,723
	7,133		Nachi-Fujikoshi Corp		323
	1,137,922		Nagarjuna Construction Co		885
	317,100		Nagase & Co Ltd		4,454
	123,600		NARI Technology Co Ltd		355
	147,512		National Central Cooling Co PJSC		71
	5,305		National Presto Industries, Inc		473
	123,587	*	Navistar International Corp		3,474
	191,002		NBCC India Ltd		94
	50,975	e	NCC AB (B Shares)		849
	711,495	*,e	NEL ASA		652
	39,306		Nexans S.A.		1,450
	72,888	e	NFI Group, Inc		1,547
	90,985		NGK Insulators Ltd		1,302
	272,568		Nibe Industrier AB		3,455
	33,700		Nichias Corp		600
	10,600		Nichiden Corp		199
	18,200		Nichiha Corp		499
	80,326		Nidec Corp		10,878
	2,700		Nihon Trim Co Ltd		115
	15,060	*	Nilfisk Holding A.S.		349
	84,400		Nippo Corp		1,568
	5,100	e	Nippon Carbon Co Ltd		182
	19,700		Nippon Densetsu Kogyo Co Ltd		410
	7,000		Nippon Koei Co Ltd		205
	18,900		Nippon Road Co Ltd		1,143
	1,872	*	Nippon Sharyo Ltd		45
	58,900		Nippon Sheet Glass Co Ltd		354
	21,617		Nippon Steel Trading Co Ltd		848
	32,000		Nippon Thompson Co Ltd		134
	133,500		Nishimatsu Construction Co Ltd		2,495
	12,700		Nishio Rent All Co Ltd		327
	5,200	e	Nissei ASB Machine Co Ltd		164
	83,428		Nisshinbo Industries, Inc		653
	203,600		Nissin Electric Co Ltd		2,486
	12,000		Nitta Corp		321
	12,000	e	Nitto Boseki Co Ltd		370
	31,200		Nitto Kogyo Corp		593

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,873		Nitto Kohki Co Ltd	$	154
	8,700	e	Nittoku Engineering Co Ltd		227
	15,273	*,e	NKT Holding AS		296
	44,321	e	NN, Inc		316
	2,400	*,†,e	Noble Group Ltd		0	^
	29,746		Nolato AB (B Shares)		1,587
	227,244	*	Nordex AG.		2,473
	107,525		Nordson Corp		15,727
	5,091		Noritake Co Ltd		188
	15,800		Noritz Corp		184
	18,030		NORMA Group		625
	598,129		Northrop Grumman Corp		224,173
	10,418	*	Northwest Pipe Co		293
	114,050	*	NOW, Inc		1,308
	1,777,386		NRW Holdings Ltd		2,786
	2,036,517		NSK Ltd		17,260
	238,200	e	NTN Corp		688
	11,250	*	NV5 Holdings, Inc		768
	16,974		nVent Electric plc		374
	1,380,423		NWS Holdings Ltd		2,138
	8,100		Obara Corp		275
	817,067		Obayashi Corp		8,171
	1,243,440	e	Obrascon Huarte Lain S.A.		1,432
	116,596		OC Oerlikon Corp AG.		1,170
	7,259		OHB AG.		260
	12,400		Oiles Corp		181
	19,300		Okabe Co Ltd		154
	14,528		Okuma Holdings, Inc		792
	16,300		Okumura Corp		437
	3,062	e	Omega Flex, Inc		313
	99,725	*,e	Opus Global Rt		126
	126		Orascom Construction Ltd		1
	19,500		Organo Corp		867
	42,100	*	Orion Marine Group, Inc		189
	48,300		OSG Corp		1,005
	27,102		Oshkosh Truck Corp		2,054
	74,500		OSJB Holdings Corp		170
	55,701	*	OSRAM Licht AG.		2,377
	4,227		Otokar Otobus Karoseri Sanayi AS		101
	89,923	*	Outotec Oyj		527
	1,609,637		Owens Corning, Inc		101,729
	204,018		PACCAR, Inc		14,283
	23,708		Palfinger AG.		624
	880,175		Parker-Hannifin Corp		158,968
	312,747	*	Parsons Corp		10,314
	23,079	*	Patrick Industries, Inc		990
	593,890		Peab AB (Series B)		5,273
	60,611		Pentair plc		2,291
	1,174,800		Penta-Ocean Construction Co Ltd		6,523
	63,360		PER Aarsleff A.S.		2,050
	2,779		Pfeiffer Vacuum Technology AG.		377
	334,811	*	PGT, Inc		5,782
	507,148	g	Philips Lighting NV		13,938

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,293	e	Pinguely-Haulotte	$	54
	249,748	*,e	Plug Power, Inc		657
	27,454		PNC Infratech Ltd		74
	111,697		Polypipe Group plc		556
	876,100		Polyplex PCL (Foreign)		404
	18,709	e	Ponsse Oyj		573
	9,654	e	Porr AG.		199
	51,169		Powell Industries, Inc		2,003
	172,200		Power Construction Corp of China Ltd		112
	3,522		Preformed Line Products Co		192
	119,801		Primoris Services Corp		2,349
	28,374	*	Proto Labs, Inc		2,897
	32,913		Prysmian S.p.A.		707
	5,445,532		PT Adhi Karya Persero Tbk		512
	2,263,000		PT AKR Corporindo Tbk		606
	2,803,600	*,†	PT Inovisi Infracom Tbk		0	^
	3,557,388		PT Pembangunan Perumahan Tbk		427
	3,296,800	*	PT Sitara Propertindo Tbk		173
	11,338,600		PT Waskita Karya Persero Tbk		1,318
	14,442,023		PT Wijaya Karya		1,958
	1,568,701		QinetiQ plc		5,570
	15,000		QST International Corp		32
	33,673		Quanex Building Products Corp		609
	340,027		Quanta Services, Inc		12,853
	97,500		Raito Kogyo Co Ltd		1,285
	155,813		Randon Participacoes S.A.		360
	1,958		Rational AG.		1,404
	36,309		Raven Industries, Inc		1,215
	854,871		Raytheon Co		167,717
	25,416	*	RBC Bearings, Inc		4,217
	240,000	*,e	Realord Group Holdings Ltd		151
	147,797		Rechi Precision Co Ltd		110
	77,935		Regal-Beloit Corp		5,678
	455,870	e	Reliance Worldwide Corp Ltd		1,241
	151,800	*	Resideo Technologies, Inc		2,178
	622,600		Reunert Ltd		2,837
	26,998	e	REV Group, Inc		309
	173,508		Rexel S.A.		1,856
	220,121	*	Rexnord Corp		5,954
	1,723,300		Rexon Industrial Corp Ltd		4,946
	125,744		Rheinmetall AG.		15,906
	8,800		Rheon Automatic Machinery Co Ltd		128
	70,353	e	Richelieu Hardware Ltd		1,357
	1,780		Rieter Holding AG.		255
	544,372		Rockwell Automation, Inc		89,712
	57,477		Rockwool International AS (B Shares)		11,492
	1,224,451		Rolls-Royce Group plc		11,898
	561,057		Roper Industries, Inc		200,073
	1,907,634		Rotork plc		7,297
	92,000		Run Long Construction Co Ltd		189
	156,887		Rush Enterprises, Inc (Class A)		6,053
	4,431		Rush Enterprises, Inc (Class B)		177
	144,429		Russel Metals, Inc		2,308
	92,900		Ryobi Ltd		1,565

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,806	e	Saab AB (Class B)	$	1,544
	219,481		Sacyr Vallehermoso S.A.		562
	88,366		Sadbhav Engineering Ltd		177
	273,918		Safran S.A.		43,128
	168,293		Salfacorp S.A.		166
	313,901	*	Samsung Engineering Co Ltd		4,403
	1,116,192	*	Samsung Heavy Industries Co Ltd		7,341
	66,097	*	Samsung Techwin Co Ltd		2,328
	55,623		San Shing Fastech Corp		92
	1,116,309		Sandvik AB		17,379
	235,300		Sanki Engineering Co Ltd		2,801
	11,300		Sankyo Tateyama, Inc		131
	349,300		Sanwa Shutter Corp		3,925
	414,000		Sany Heavy Equipment International		178
	376,900		Sany Heavy Industry Co Ltd		755
	5,300		Sanyo Denki Co Ltd		234
	13,444	*	Saudi Ceramic Co		91
	38,656	e	Savaria Corp		351
	5,101		Schaeffler India Ltd		315
	13,738		Schindler Holding AG.		3,074
	2,801		Schindler Holding AG. (Registered)		625
	1,649,421		Schneider Electric S.A.		144,229
	587		Schweiter Technologies AG.		559
	7,600	*,e	SEC Carbon Ltd		579
	14,900		Sekisui Jushi Corp		295
	1,117,183		SembCorp Industries Ltd		1,682
	484,400	*,e	SembCorp Marine Ltd		413
	21,944	*,e	Semperit AG. Holding		303
	252,762		Senior plc		583
	169,638	*	Sensata Technologies Holding plc		8,492
	206,530		Service Stream Ltd		366
	145,365	e	Seven Network Ltd		1,712
	9,504		SFS Group AG.		758
	82,984	*	SGL Carbon AG.		394
	113,308	*	SGSB Group Co Ltd		60
	170,980		Shanghai Diesel Engine Co Ltd		87
	90,800		Shanghai Electric Group Co Ltd		64
	2,305,025		Shanghai Electric Group Co Ltd (Hong Kong)		744
	141,000		Shanghai Highly Group Co Ltd		108
	537,508		Shanghai Industrial Holdings Ltd		1,001
	87,500		Shanghai Tunnel Engineering Co Ltd		72
	79,430		Shapir Engineering and Industry Ltd		399
	70,135		Shenzhen Inovance Technology Co Ltd		239
	10,200		Shibuya Kogyo Co Ltd		274
	1,462,851		Shikun & Binui Ltd		5,578
	17,200	e	Shima Seiki Manufacturing Ltd		397
	758,660		Shimizu Corp		6,892
	97,000		Shin Zu Shing Co Ltd		361
	12,100		Shinko Electric Co Ltd		135
	21,100		Shinmaywa Industries Ltd		247
	76,900		Shinnihon Corp		540
	21,400		SHO-BOND Holdings Co Ltd		753
	3,160,000		Shougang Concord International Enterprises Co Ltd		129

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,394,500		Shun TAK Holdings Ltd	$	1,747
	1,176,894		Siemens AG.		125,981
	2,260,360	e	Siemens Gamesa Renewable Energy		30,664
	6,968	e	SIF Holding NV		99
	318,390		SIG plc		492
	2,724,260		Sime Darby BHD		1,464
	47,265		Simpson Manufacturing Co, Inc		3,279
	872,000		Singamas Container Holdings Ltd		104
	2,537,770		Singapore Technologies Engineering Ltd		7,054
	25,300		Sinko Industries Ltd		410
	453,957		Sino Thai Engineering & Construction PCL		297
	1,225,500		Sinopec Engineering Group Co Ltd		770
	868,500		Sinotruk Hong Kong Ltd		1,288
	41,100		Sintokogio Ltd		371
	43,014	*,e	SiteOne Landscape Supply, Inc		3,184
	33,510		SK C&C Co Ltd		5,712
	1,070,601		SK Networks Co Ltd		4,973
	40,935		Skanska AB (B Shares)		829
	291,604		SKF AB (B Shares)		4,815
	2,655,400		SKP Resources BHD		711
	196,275		SM Investments Corp		3,678
	30,153		SMC Corp		12,961
	57,766		Smiths Group plc		1,115
	102,325	e	Snap-On, Inc		16,018
	165,758	e	SNC-Lavalin Group, Inc		2,335
	22,300	e	Sodick Co Ltd		161
	4,942,300		Sojitz Holdings Corp		15,375
	36,748	*	Solaria Energia y Medio Ambiente S.A.		228
	82,784		Spirax-Sarco Engineering plc		7,976
	266,691		Spirit Aerosystems Holdings, Inc (Class A)		21,933
	264,923	*	SPX Corp		10,600
	242,147	*	SPX FLOW, Inc		9,555
	14,020		Stabilus S.A.		686
	12,756		Standex International Corp		930
	402,292		Stanley Black & Decker, Inc		58,095
	23,200		Star Micronics Co Ltd		330
	39,738	*	Ste Industrielle d’Aviation Latecoere S.A.		166
	106,355	*	Sterling Construction Co, Inc		1,399
	13,002		Sulzer AG.		1,280
	1,612,669		Sumitomo Corp		25,247
	30,100		Sumitomo Densetsu Co Ltd		615
	1,087,267		Sumitomo Heavy Industries Ltd		32,399
	1,113,440		Sumitomo Mitsui Construction C		5,867
	98,000		Sunonwealth Electric Machine Industry Co Ltd		119
	117,122	*,e	Sunrun, Inc		1,957
	1,608,022		Sunway Construction Group BHD		788
	2,444,500	*,†,e	Superb Summit International Group Ltd		3
	68,500		Suzhou Gold Mantis Construction Decoration Co Ltd		87
	1,425,190	*	Suzlon Energy Ltd		45
	121,095		Sweco AB (B Shares)		3,438
	53,900	e	Tadano Ltd		517
	325,772		Taeyoung Engineering & Construction		3,618
	44,400		Taihei Dengyo Kaisha Ltd		985
	58,400		Taikisha Ltd		1,768

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	404,409		Taisei Corp	$	15,738
	431,670		Taiwan Glass Industrial Corp		162
	12,300		Takamatsu Corp		283
	19,864		Takara Standard Co Ltd		329
	74,500		Takasago Thermal Engineering Co Ltd		1,237
	28,500		Takeuchi Manufacturing Co Ltd		447
	38,800		Takuma Co Ltd		441
	49,132	*,g	Talgo S.A.		271
	18,669	e	Tarkett S.A.		276
	14,900		Tatsuta Electric Wire and Cable Co Ltd		64
	120,200		TBEA Co Ltd		110
	2,967,675		Techtronic Industries Co		20,656
	903,000		Teco Electric and Machinery Co Ltd		728
	10,500		Teikoku Sen-I Co Ltd		175
	132,182		Tekfen Holding AS		448
	7,500		Tekken Corp		192
	66,543	*	Teledyne Technologies, Inc		21,426
	18,940		Tennant Co		1,339
	2,550,588		Terex Corp		66,239
	46,140	*	Textainer Group Holdings Ltd		457
	1,946,151		Textron, Inc		95,284
	66,378		Thales S.A.		7,630
	32,177		Thermax Ltd		512
	162,782	*	Thermon Group Holdings		3,741
	90,269		THK Co Ltd		2,392
	611,335		Thoresen Thai Agencies PCL		108
	36,704		Timken Co		1,597
	9,862		Timken India Ltd		107
	56,648		Titan International, Inc		153
	164,585	*	Titan Machinery, Inc		2,360
	158,000		TK Group Holdings Ltd		72
	33,763		TKH Group NV		1,682
	9,500		Toa Corp/Tokyo		115
	32,300		Tocalo Co Ltd		269
	839,200		Toda Corp		4,854
	14,700		Toenec Corp		471
	111,400		Tokai Corp		1,046
	126,460		Tokyu Construction Co Ltd		972
	35,503		Toro Co		2,602
	128,516		Toromont Industries Ltd		6,208
	136,954		Toshiba Corp		4,189
	10,892		Toshiba Machine Co Ltd		227
	28,300		Toshiba Plant Systems & Services Corp		473
	13,700		Totetsu Kogyo Co Ltd		407
	33,755	e	Toto Ltd		1,271
	206,600		Toyo Construction Co Ltd		896
	6,200		Toyo Tanso Co Ltd		134
	284,049		Toyota Tsusho Corp		9,220
	29,564	*	TPI Composites, Inc		554
	3,099,235		Trakya Cam Sanayi AS		1,628
	6,991	*	Transcat Inc		179
	185,433		TransDigm Group, Inc		96,549
	1,450,857		Travis Perkins plc		23,014

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	164,293		Trelleborg AB (B Shares)	$	2,303
	76,235		Trencor Ltd		152
	61,606	*	Trex Co, Inc		5,602
	165,963	*	Trimas Corp		5,087
	30,115		Trinity Industries, Inc		593
	180,465		Triton International Ltd		6,107
	716,040		Triumph Group, Inc		16,383
	30,144		Troax Group AB		305
	23,200		Trusco Nakayama Corp		544
	23,400		Tsubaki Nakashima Co Ltd		352
	14,100		Tsubakimoto Chain Co		454
	21,000	e	Tsugami Corp		180
	22,500	e	Tsukishima Kikai Co Ltd		290
	10,000		Tsurumi Manufacturing Co Ltd		187
	516,145		Turk Sise ve Cam Fabrikalari AS		426
	40,506	*,e	Tutor Perini Corp		580
	10,257	*	Twin Disc, Inc		109
	40,822		Ultra Electronics Holdings		1,014
	5,000		Union Tool Co		146
	344,500		Unique Engineering & Construction PCL		106
	133,000	e	United Engineers Ltd		243
	848,800		United Integrated Services Co Ltd		4,501
	342,690	*	United Rentals, Inc		42,713
	1,440,765		United Technologies Corp		196,693
	75,415	*	Univar, Inc		1,566
	236,429		Universal Forest Products, Inc		9,429
	31,432		Uponor Oyj		334
	58,000		Ushio, Inc		824
	585,841		Valmet Corp		11,365
	44,907		Valmont Industries, Inc		6,217
	16,933	*	Varta AG.		1,671
	15,508	g	VAT Group AG.		1,956
	149,729	*	Vectrus, Inc		6,086
	110,735		Veidekke ASA		1,243
	12,638	*	Veritiv Corp		228
	35,593		Vestas Wind Systems AS		2,761
	125,361		Vesuvius plc		702
	49,193		V-Guard Industries Ltd		156
	18,063	*	Vicor Corp		533
	1,101,425		Vinci S.A.		118,644
	45,298	*,e	Vivint Solar, Inc		296
	13,676		Volati AB		61
	47,318		Voltas Ltd		454
	32,544		Voltronic Power Technology Corp		671
	1,578,273		Volvo AB (B Shares)		22,148
	5,236		Vossloh AG.		216
	315,000	g	VPower Group International Holdings Ltd		90
	544,274		W.W. Grainger, Inc		161,731
	200,341		Wabash National Corp		2,907
	76,169	*	WABCO Holdings, Inc		10,188
	41,227	e	Wabtec Corp		2,963
	119,935		Wacker Construction Equipment AG.		2,090
	24,246		Wajax Income Fund		295
	35,000		Wakita & Co Ltd		346

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,589,000		Walsin Lihwa Corp	$	5,415
	14,526	e	Wartsila Oyj (B Shares)		163
	6,538		Washtec AG.		337
	55,483		Watsco, Inc		9,387
	123,639		Watts Water Technologies, Inc (Class A)		11,589
	389,516		WCT Berhad		84
	788,633		Weg S.A.		4,599
	4,695,284		Weichai Power Co Ltd		6,774
	219,000		Weichai Power Co Ltd (Class A)		345
	1,154,922		Weir Group plc		20,232
	4,335,334	*	Welbilt, Inc		73,094
	191,570	*	Wesco Aircraft Holdings, Inc		2,109
	921,045	*	WESCO International, Inc		43,998
	2,949	*	Willis Lease Finance Corp		163
	53,697	*	Willscot Corp		837
	89,539		Wilson Bayly Holmes-Ovcon Ltd		845
	220,964		Woodward Governor Co		23,827
	119,022		WSP Global, Inc		6,956
	282,600		XCMG Construction Machinery Co Ltd		176
	72,700		Xiamen C & D, Inc		89
	213,900		Xinjiang Goldwind Science & Technology Co Ltd		375
	720,800		Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		853
	60,112		Xxentria Technology Materials Corp		133
	43,601	e	Xylem, Inc		3,471
	7,862		Y G-1 Co Ltd		52
	19,100		Yahagi Construction Co Ltd		123
	35,000		YAMABIKO Corp		370
	19,200	e	Yamashin-Filter Corp		150
	32,700		Yamazen Corp		286
	8,796,278		Yangzijiang Shipbuilding		6,116
	88,037	e	YIT Oyj		507
	16,800		Yokogawa Bridge Holdings Corp		254
	19,600		Yuasa Trading Co Ltd		561
	79,000		Yungtay Engineering Co Ltd		161
	69,500		Yurtec Corp		424
	14,200		Yushin Precision Equipment Co Ltd		124
	25,067	*	Yuyang DNU Co Ltd		125
	124,462		Zardoya Otis S.A.		845
	11,880		Zehnder Group AG.		476
	80,700		Zhejiang Chint Electrics Co Ltd		247
	100,200		Zhengzhou Coal Mining Machinery Group Co Ltd		50
	46,300		Zhengzhou Yutong Bus Co Ltd		90
	465,341		Zhuzhou CSR Times Electric Co Ltd		1,926
	284,800		Zoomlion Heavy Industry Science and Technology Co Ltd		228
	63,502	*	Zumtobel AG.		478
			TOTAL CAPITAL GOODS		8,631,133
COMMERCIAL & PROFESSIONAL SERVICES - 1.4%
	21,200	*	51job, Inc (ADR)		1,569
	70,528		ABM Industries, Inc		2,562
	45,039	*	Acacia Research (Acacia Technologies)		121

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	100,667		ACCO Brands Corp	$	994
	132,198		Adecco S.A.		7,316
	224,397	e	ADT, Inc		1,407
	182,812	*	Advanced Disposal Services, Inc		5,954
	12,600		Aeon Delight Co Ltd		396
	170,877		AF AB		3,433
	255,113		Aggreko plc		2,606
	11,506		Akka Technologies S.A.		792
	1,119,814		ALS Ltd		6,061
	9,790		Altech Corp		139
	228,624		AMA Group Ltd		188
	16,399		Amadeus Fire AG		1,814
	35,327		American Banknote S.A.		117
	95,412		Applus Services S.A.		1,237
	7,417		Assystem		287
	146,258	e	Babcock International Group		1,003
	7,506		Barrett Business Services, Inc		667
	24,000		BayCurrent Consulting, Inc		1,063
	13,400	g	Befesa S.A.		479
	23,500	e	Bell System24 Holdings, Inc		361
	95,500		Benefit One, Inc		1,813
	3,252		Bertrandt AG.		146
	10,885		BG Staffing, Inc		208
	134,626	g	Biffa plc		391
	16,532		Bilfinger Berger AG.		482
	279,983	e	Bingo Industries Ltd		418
	303,297	*	Blue Label Telecoms Ltd		58
	74,000		Boyd Group Income Fund		9,806
	80,694		Brady Corp (Class A)		4,281
	1,729,279		Brambles Ltd		13,317
	568,813	g	Bravida Holding AB		4,987
	31,974	*	BrightView Holdings, Inc		548
	52,539		Brink’s Co		4,358
	17,688	e	Brunel International NV		202
	325,537		Bureau Veritas S.A.		7,836
	1,823,462	*	Capita Group plc		3,248
	2,734,000	*	Capital Environment Holdings Ltd		65
	46,473	*	Casella Waste Systems, Inc (Class A)		1,996
	90,162	e	Caverion Corp		554
	306,583	*	CBIZ, Inc		7,205
	35,235	*	Ceco Environmental Corp		246
	4,200	e	Central Security Patrols Co Ltd		215
	11,725		Cewe Color Holding AG.		985
	10,025	*	Charah Solutions, Inc		21
	2,605,451		China Everbright International Ltd		2,004
	234,367	*,e	Cimpress NV		30,899
	163,795		Cintas Corp		43,913
	100,283	*	Clean Harbors, Inc		7,742
	43,000		Cleanaway Co Ltd		211
	4,086,063		Cleanaway Waste Management Ltd		5,383
	2,132		Compx International, Inc		31
	372,971	*	Copart, Inc		29,961
	61,705	*	CoStar Group, Inc		36,603
	4,822,000		Country Garden Services Holdings Co Ltd		13,907

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	122,002		Covanta Holding Corp	$	2,109
	63,223		CRA International, Inc		2,653
	1,320,000	†	CT Environmental Group Ltd		29
	62,539		Dai Nippon Printing Co Ltd		1,622
	21,500		Daiseki Co Ltd		553
	59,464		De La Rue plc		163
	45,496		Deluxe Corp		2,237
	56,981		Derichebourg		199
	26,377		DKSH Holding AG.		1,317
	1,662,469		Downer EDI Ltd		8,758
	22,398		Duskin Co Ltd		579
	180,000		Dynagreen Environmental Protection Group Co Ltd		72
	514,116		Edenred		24,662
	139,455		Elis S.A.		2,465
	20,000		en-japan, Inc		773
	65,221		Ennis, Inc		1,318
	199,312		Equifax, Inc		28,037
	256,000		Ever Sunshine Lifestyle Services Group Ltd		122
	2,376,970		Experian Group Ltd		76,013
	67,564		Exponent, Inc		4,723
	12,431	e	Fila S.p.A		186
	65,008	*	Forrester Research, Inc		2,089
	10,395	*	Franklin Covey Co		364
	57,790	*	FTI Consulting, Inc		6,125
	90,700		Fullcast Co Ltd		1,848
	25,550		Funai Soken Holdings, Inc		584
	26,979		GL Events		675
	13,672	*	GP Strategies Corp		176
	1,060,000	e	Greentown Service Group Co Ltd		1,040
	1,385,508		Group 4 Securicor plc		3,227
	4,396		Groupe CRIT		317
	2,131,206		Hays plc		3,951
	105,247	e	Healthcare Services Group		2,556
	176,434		Heidrick & Struggles International, Inc		4,817
	14,895	*	Heritage-Crystal Clean, Inc		395
	166,715		Herman Miller, Inc		7,684
	44,183		HNI Corp		1,568
	510,144		HomeServe plc		7,439
	31,097	*	Huron Consulting Group, Inc		1,907
	573,625	*	IAA, Inc		23,937
	50,408		ICF International, Inc		4,258
	941,535	*	IHS Markit Ltd		62,970
	47,689	*	Innerworkings, Inc		211
	133,272		Insperity, Inc		13,143
	91,604		Interface, Inc		1,323
	165,153		Intertek Group plc		11,117
	56,162	g	Intertrust NV		1,099
	605,611	e	Intrum Justitia AB		15,214
	610,570		IPH Ltd		3,592
	86,800	e	IR Japan Holdings Ltd		3,098
	136,115		ISS AS		3,365
	801,232		IWG plc		4,026
	7,100	e	JAC Recruitment Co Ltd		137

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	250,200		Japan Elevator Service Holdings Co Ltd	$	6,519
	51,753	e	KAR Auction Services, Inc		1,270
	18,000		KD Holding Corp		118
	47,594		Kelly Services, Inc (Class A)		1,153
	13,066		KEPCO Plant Service & Engineering Co Ltd		377
	133,039		Kforce, Inc		5,033
	219,506		Kimball International, Inc (Class B)		4,236
	350,971		Knoll, Inc		8,897
	9,762		Koentec Co Ltd		87
	48,700		Kokuyo Co Ltd		683
	192,358		Korn/Ferry International		7,433
	9,971	g	L&T Technology Services Ltd		214
	19,900	e	Link And Motivation, Inc		102
	187,577		Loomis AB		6,587
	105,438		Manpower, Inc		8,882
	6,962		Matsuda Sangyo Co Ltd		92
	31,585		Matthews International Corp (Class A)		1,118
	92,196		McGrath RentCorp		6,416
	41,389		McMillan Shakespeare Ltd		457
	16,700		Meitec Corp		821
	1,155,656		Michael Page International plc		6,230
	19,833	*	Mistras Group, Inc		325
	213,218		Mitie Group		384
	20,744		Mitsubishi Pencil Co Ltd		330
	356,679		Mobile Mini, Inc		13,147
	84,005	e	Morneau Sobeco Income Fund		2,090
	67,700		Moshi Moshi Hotline, Inc		846
	36,960		MSA Safety, Inc		4,033
	39,900		Navigant Consulting, Inc		1,115
	16,333		NICE Information Service Co Ltd		180
	4,300		Nichiban Co Ltd		64
	612,090		Nielsen NV		13,007
	201,600	e	Nihon M&A Center, Inc		5,703
	10,200		Nippon Kanzai Co Ltd		176
	311,500		Nippon Parking Development Co Ltd		492
	10,941	*	NL Industries, Inc		41
	54,300		Nomura Co Ltd		687
	10,409	*	NRC Group Holdings Corp		129
	32,000		Okamura Corp		313
	110,360	*	On Assignment, Inc		6,937
	61,900		Outsourcing, Inc		593
	15,368		Oyo Corp		153
	92,473		Park24 Co Ltd		2,148
	42,200		Pasona Group, Inc		609
	37,800		Pilot Corp		1,408
	183,736		Pitney Bowes, Inc		840
	60,000		Prestige International, Inc		479
	243,332	g	Prosegur Cash S.A.		350
	159,582		Prosegur Cia de Seguridad S.A.		622
	36,767		Quad Graphics, Inc		386
	42,829	*,g	Quess Corp Ltd		284
	295,001	*,e	Raksul, Inc		9,766
	198,774	e	Randstad Holdings NV		9,759
	2,942,648		Recruit Holdings Co Ltd		89,908

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,433,110		RELX plc (London)	$	81,535
	2,004,863		Rentokil Initial plc		11,527
	388,106		Republic Services, Inc		33,591
	31,351		Resources Connection, Inc		533
	163,922	e	Restore plc		822
	141,778	e	Ritchie Bros Auctioneers, Inc		5,651
	356,347		Robert Half International, Inc		19,834
	277,130		Rollins, Inc		9,442
	121,702		RPS Group plc		220
	89,547		RR Donnelley & Sons Co		338
	103,149		RWS Holdings plc		744
	15,821		S1 Corp (Korea)		1,297
	15,252		Sato Corp		414
	229,496		Secom Co Ltd		21,000
	342,750		Securitas AB (B Shares)		5,249
	322,312		Seek Ltd		4,675
	1,515,580	*	Serco Group plc		2,780
	81,691		SG Fleet Group Ltd		128
	4,941		SGS S.A.		12,248
	100,500	*,†	Shanghai Youngsun Investment Co Ltd		78
	521,304		Shanks Group plc		194
	100,349		SmartGroup Corp Ltd		828
	48,000		SMS Co Ltd		1,178
	19,470	e	Societe BIC S.A.		1,307
	49,769		Sohgo Security Services Co Ltd		2,618
	121,563	*	SP Plus Corp		4,498
	291,134	e	SPIE S.A.		5,826
	30,743		Sporton International, Inc		200
	145,561		Stantec, Inc		3,221
	161,728		Steelcase, Inc (Class A)		2,976
	154,109	*,e	Stericycle, Inc		7,849
	40,000		Sunny Friend Environmental Technology Co Ltd		350
	6,759		Synergie S.A		194
	55,903		Systemax, Inc		1,230
	152,660		Taiwan Secom Co Ltd		433
	245,020		Taiwan-Sogo Shinkong Security Corp		296
	16,400		Tanseisha Co Ltd		184
	33,020	*,e	Team, Inc		596
	10,771	*	TeamLease Services Ltd		460
	41,300		TechnoPro Holdings, Inc		2,464
	92,150		Teleperformance		19,967
	138,515		Temp Holdings Co Ltd		2,633
	84,955		Tetra Tech, Inc		7,371
	303,201		Thomson Reuters Corp		20,265
	85,926		Tinexta Spa		1,121
	116,701		Tomra Systems ASA		3,118
	186,300		Toppan Forms Co Ltd		1,770
	237,038		Toppan Printing Co Ltd		4,210
	131,094	e	Transcontinental, Inc		1,532
	363,718		TransUnion		29,501
	213,333	*	TriNet Group, Inc		13,267
	42,109	*	TrueBlue, Inc		888
	15,200		Trust Tech, Inc		183

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	182,100		Tus-Sound Environmental Resources Co Ltd	$	241
	48,578		Unifirst Corp		9,479
	16,200		United Technology Holdings Co Ltd		349
	208,319	*,e	Upwork, Inc		2,772
	22,437		US Ecology, Inc		1,435
	431,490		Verisk Analytics, Inc		68,236
	20,889		Viad Corp		1,403
	9,831		VSE Corp		335
	491,000		Waste Connections, Inc		45,172
	1,477,742		Waste Management, Inc		169,940
	5,000		WDB Holdings Co Ltd		135
	10,309	*	Willdan Group, Inc		362
	211,495		Wolters Kluwer NV		15,432
	54,100		World Holdings Co Ltd		788
	5,300		YAMADA Consulting Group Co Ltd		83
	26,800	e	Yumeshin Holdings Co Ltd		218
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,532,691
CONSUMER DURABLES & APPAREL - 2.0%
	369,000		361 Degrees International Ltd		81
	12,412		Accell Group		300
	36,353		Acushnet Holdings Corp		960
	213,710		Adidas-Salomon AG.		66,537
	225,007		Aksa Akrilik Kimya Sanayii		388
	96,700		Alpargatas S.A.		603
	60,670	*	American Outdoor Brands Corp		355
	370,157	*	AmTRAN Technology Co Ltd		138
	1,824,235		Anta Sports Products Ltd		15,079
	7,976	e	Aquafil S.p.A		61
	594,703	*	Arcelik AS		2,004
	24,500		Arezzo Industria e Comercio S.A.		292
	109,523	*	Aritzia, Inc		1,388
	56,922		Arvind Ltd		39
	93,600		Asics Corp		1,605
	64,710		Bajaj Electricals Ltd		357
	24,082	*,e	Bang & Olufsen AS (B Shares)		141
	1,436,921		Barratt Developments plc		11,439
	10,690		Bassett Furniture Industries, Inc		164
	18,983		Bata India Ltd		462
	29,368	*	Beazer Homes USA, Inc		438
	155,896		Bellway plc		6,409
	58,829		Beneteau S.A.		618
	99,014		Berkeley Group Holdings plc		5,084
	186,000		Best Pacific International Holdings Ltd		63
	152,500	g	Bestway Global Holding, Inc		62
	49,745		Bonava AB		563
	2,282,000		Bosideng International Holdings Ltd		972
	305,824		Bovis Homes Group plc		4,191
	142,849		Breville Group Ltd		1,553
	96,250		BRP, Inc (Toronto)		3,745
	18,487		Brunello Cucinelli S.p.A		576
	142,909		Brunswick Corp		7,448
	276,760		Burberry Group plc		7,393
	3,190,583		Cairn Homes plc		3,916

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,552,409		Cairn Homes plc (London)	$	6,742
	166,311	e	Callaway Golf Co		3,228
	76,938	*,e	Canada Goose Holdings, Inc		3,383
	657,235	*	Capri Holdings Ltd		21,794
	53,199		Carter’s, Inc		4,852
	31,035	e	Casio Computer Co Ltd		483
	23,079	*	Cavco Industries, Inc		4,433
	30,877		CCC S.A.		1,066
	26,375	*	Century Communities, Inc		808
	10,493	e	Chargeurs S.A.		184
	1,407,400		China Dongxiang Group Co		151
	814,000		China Lilang Ltd		648
	10,000		Chofu Seisakusho Co Ltd		223
	416,000		Chow Sang Sang Holding		447
	167		Christian Dior S.A.		79
	425,000		Cia Hering		3,551
	483,126		Cie Financiere Richemont S.A.		35,406
	704,000	e	Citychamp Watch & Jewellery Group Ltd		156
	53,114		Clarus Corp		623
	982,435		Coats Group plc		898
	41,912		Columbia Sportswear Co		4,061
	1,356,400	e	Consorcio ARA, S.A. de C.V.		280
	7,600		Corona Corp		75
	394,000	e,g	Cosmo Lady China Holdings Co Ltd		66
	448,994	g	Countryside Properties plc		1,853
	13,022		COWELL FASHION Co Ltd		66
	148,172		Crest Nicholson Holdings plc		692
	172,949	*	CROCS, Inc		4,801
	177,724		Crompton Greaves Consumer Electricals Ltd		628
	358,500	g	Crystal International Group Ltd		147
	703		Cuckoo Electronics Co Ltd		69
	20,525		Culp, Inc		335
	1,167,400		Cyrela Brazil Realty S.A.		6,757
	182,724	*	Deckers Outdoor Corp		26,926
	45,474		De’Longhi S.p.A.		857
	7,134	*	Delta Apparel, Inc		169
	4,939		Delta-Galil Industries Ltd		123
	19,790		Descente Ltd		263
	204,661		DFS Furniture plc		556
	34,526		Dorel Industries, Inc (Class B)		237
	1,217,996		DR Horton, Inc		64,201
	177,413		Eclat Textile Co Ltd		2,382
	2,197,580	e	Electrolux AB (Series B)		52,061
	11,325		Escalade, Inc		123
	60,000	e	ES-Con Japan Ltd		459
	759,601		Essilor International S.A.		109,519
	25,148		Ethan Allen Interiors, Inc		480
	33,666		Ez Tec Empreendimentos e Participacoes S.A.		293
	21,949		F&F Co Ltd		1,774
	861,439		Feng TAY Enterprise Co Ltd		6,174
	150,673	e	Fila Korea Ltd		7,290
	7,392		Flexsteel Industries, Inc		110
	1,195		Forbo Holding AG.		1,775

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	852,852		Formosa Taffeta Co Ltd	$	929
	40,637		Forus S.A.		84
	48,406	*,e	Fossil Group, Inc		606
	12,991		Foster Electric Co Ltd		221
	13,200		France Bed Holdings Co Ltd		124
	339,999	*,†,e	Fuguiniao Co Ltd		0	^
	5,900		Fujibo Holdings Inc		165
	34,200	e	Fujitsu General Ltd		572
	52,000		Fusheng Precision Co Ltd		300
	78,430		Games Workshop Group plc		4,543
	344,538		Garmin Ltd		29,179
	46,924	e	Geox S.p.A.		66
	1,032,439		Giant Manufacturing Co Ltd		7,023
	110,541	*	G-III Apparel Group Ltd		2,849
	267,485		Gildan Activewear, Inc		9,493
	2,556,516	*,g	Glenveagh Properties plc		2,056
	2,700,000	*,e,g	Glenveagh Properties plc (London)		2,164
	17,200	e	Goldwin, Inc		1,478
	456,000		Goodbaby International Holding		69
	572,734	*,e	GoPro, Inc		2,970
	148,800		Gree Electric Appliances, Inc of Zhuhai		1,196
	26,480	*	Green Brick Partners, Inc		283
	153,100		Grendene S.A.		322
	48,000		Guararapes Confeccoes S.A.		236
	9,000		Gunze Ltd		377
	1,292,944		Haier Electronics Group Co Ltd		3,367
	7,607		Hamilton Beach Brands Holding Co		123
	13,513		Handsome Co Ltd		330
	1,719,461		Hanesbrands, Inc		26,342
	202,332		Hangzhou Robam Appliances Co Ltd		746
	8,816		Hansae Co Ltd		142
	5,141		Hanssem Co Ltd		258
	218,094		Hasbro, Inc		25,886
	731,700		Haseko Corp		8,557
	38,500		Heilan Home Co Ltd		44
	31,700		Heiwa Corp		654
	32,559	*	Helen of Troy Ltd		5,133
	24,654	*,†	Hellenic Duty Free Shops S.A.		0	^
	24,944		Hermes International		17,228
	3,400		Hinokiya Group Co Ltd		61
	3,271		Hitachi Home & Life Solutions India Ltd		85
	29,664	*,e	HLB, Inc		1,496
	11,760		Hooker Furniture Corp		252
	466,000	†	Hosa International Ltd		1
	19,143		HS Industries Co Ltd		166
	17,956		Hugo Boss AG.		961
	367,880		Husqvarna AB (B Shares)		2,798
	9,030		Hwaseung Enterprise Co Ltd		121
	1,305		Hyosung TNC Co Ltd		172
	5,280		Hyundai Livart Furniture Co Ltd		60
	4,448	*	IFB Industries Ltd		42
	51,450	e	IG Design Group PLC		390
	265,075	e	Iida Group Holdings Co Ltd		4,328
	79,367	*	Installed Building Products, Inc		4,551

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,919	*,e	iRobot Corp	$	1,783
	131,800		Japan Wool Textile Co Ltd		1,209
	99,163	e	JM AB		2,534
	528,500		JNBY Design Ltd		760
	8,404		Johnson Outdoors, Inc		492
	1,258,600		JVC KENWOOD Holdings, Inc		3,728
	277,000	e	Kasen International Holdings Ltd		214
	55,344		Kaufman & Broad S.A.		2,204
	317,861		KB Home		10,807
	3,539,000		Kinpo Electronics		1,220
	25,956		KMC Kuei Meng International In		86
	286,000		Konka Group Co Ltd		91
	137,275		Kontoor Brands, Inc		4,818
	6,122		KPR Mill Ltd		48
	22,500		Kurabo Industries Ltd		472
	25,894		LA Opala RG Ltd		66
	46,231		La-Z-Boy, Inc		1,553
	3,697,776		Lealea Enterprise Co Ltd		1,095
	11,900	e	LEC, Inc		108
	11,661	*,e	Legacy Housing Corp		189
	226,898		Leggett & Platt, Inc		9,289
	27,789		Lennar Corp (B Shares)		1,233
	684,452		Lennar Corp (Class A)		38,227
	599,303	*,e	Levi Strauss & Co		11,411
	85,100		LG Electronics, Inc		4,791
	50,157		LG Fashion Corp		847
	20,659	*,e	LGI Homes, Inc		1,721
	3,316,000		Li Ning Co Ltd		9,514
	30,128		Lifetime Brands, Inc		267
	9,108	*,e	Lovesac Co		170
	1,188		LPP S.A.		2,551
	351,838	*	Lululemon Athletica, Inc		67,739
	870,324		Luthai Textile Co Ltd		865
	325,834		LVMH Moet Hennessy Louis Vuitton S.A.		129,278
	125,775	*	M/I Homes, Inc		4,735
	111,021		Makalot Industrial Co Ltd		588
	155,030	*	Malibu Boats, Inc		4,756
	971,200		Man Wah Holdings Ltd		605
	6,442	*,†	Mariella Burani S.p.A.		0
	8,879		Marine Products Corp		126
	9,100		Mars Engineering Corp		161
	19,651	*	MasterCraft Boat Holdings, Inc		293
	1,970,006	*,e	Mattel, Inc		22,438
	16,994	g	Mavi Giyim Sanayi Ve Ticaret AS.		139
	55,992		Maytronics Ltd		477
	210,951	g	McCarthy & Stone plc		376
	102,260		MDC Holdings, Inc		4,407
	118,000		Merida Industry Co Ltd		671
	61,438	*	Meritage Homes Corp		4,322
	168,400		Midea Group Co Ltd		1,207
	123,100		MIPS AB		2,088
	110,300		Misawa Homes Co Ltd		1,131
	20,400		Mizuno Corp		531

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	155,128	*	Mohawk Industries, Inc	$	19,247
	468,761		Moncler S.p.A		16,708
	29,505		Movado Group, Inc		733
	1,159,765		MRV Engenharia e Participacoes S.A.		4,924
	12,091		Nacco Industries, Inc (Class A)		773
	440,339	e	Namco Bandai Holdings, Inc		27,458
	21,000		Nan Liu Enterprise Co Ltd		95
	55,614	*,g	Neinor Homes S.A.		748
	153,167		New Wave Group AB (B Shares)		872
	1,317,534		Newell Rubbermaid, Inc		24,664
	651,000		Nien Made Enterprise Co Ltd		5,706
	3,513,368		Nike, Inc (Class B)		329,976
	156,022		Nikon Corp		1,957
	583,800		Nishat Mills Ltd		314
	85,967		Nobia AB		498
	15,424	*	NVR, Inc		57,336
	56,431		Onward Kashiyama Co Ltd		294
	12,400		Oppein Home Group, Inc		194
	830,835		Oriental Weavers		532
	113,294	*,e,g	OVS S.p.A		210
	17,043		Oxford Industries, Inc		1,222
	508,778		Pacific Textile Holdings Ltd		342
	4,946		Page Industries Ltd		1,573
	57,456		Paiho Shih Holdings Corp		79
	1,088,665		Panasonic Corp		8,872
	15,409		Pandora AS		618
	402,000	*,†	Peace Mark Holdings Ltd		0
	83,898	*,e	Peloton Interactive, Inc		2,106
	108,094		Persimmon plc		2,883
	299,737	*	Peter England Fashions and Retail Ltd		895
	152,349		Photo-Me International plc		180
	20,656		PIK Group (GDR)		128
	284,276		Polaris Industries, Inc		25,019
	1,250,341		Pou Chen Corp		1,603
	14,517,722		Prada S.p.A		42,261
	106,200	e	Pressance Corp		1,719
	45,018,500		PT Sri Rejeki Isman Tbk		1,008
	675,017		Pulte Homes, Inc		24,672
	170,862		Puma AG. Rudolf Dassler Sport		13,221
	8,073	*,e	Purple Innovation, Inc		61
	72,149		PVH Corp		6,366
	179,000		Q Technology Group Co Ltd		193
	271,000		Qingdao Haier Co Ltd		581
	264,000		Quang Viet Enterprise Co Ltd		1,190
	154,394		Rajesh Exports Ltd		1,453
	25,411		Ralph Lauren Corp		2,426
	61,666		Raymond Ltd		486
	889,069		Redrow plc		6,752
	185,000	e,g	Regina Miracle International Holdings Ltd		129
	32,704		Rinnai Corp		2,204
	13,089		Rocky Brands, Inc		435
	139,775	*	Roku, Inc		14,224
	257,000	*	Roo Hsing Co Ltd		97
	267,173		Ruentex Industries Ltd		576

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,905	e	Salvatore Ferragamo Italia S.p.A	$	719
	5,427,466	g	Samsonite International		11,498
	28,400		Sangetsu Co Ltd		536
	79,411		Sankyo Co Ltd		2,733
	19,705		SEB S.A.		2,991
	16,924		Sega Sammy Holdings, Inc		237
	171,300		Seiko Holdings Corp		3,801
	29,100		Seiren Co Ltd		336
	386,349		Sekisui Chemical Co Ltd		6,012
	1,080,632		Sekisui House Ltd		21,323
	68,586	e	Sharp Corp		766
	725,224		Shenzhou International Group Holdings Ltd		9,461
	7,162		Shimano, Inc		1,082
	3,648		Sioen Industries NV		85
	225,825	*	Skechers U.S.A., Inc (Class A)		8,435
	281,556		Skyline Corp		8,472
	822,000		Skyworth Digital Holdings Ltd		212
	429,679	*,e	Sonos, Inc		5,762
	3,663,958		Sony Corp		216,570
	1,015,193	*,g	Spin Master Corp		31,019
	62,700		Starts Corp, Inc		1,535
	1,719,133	*,e	Steinhoff International Holdings NV		111
	87,899		Steven Madden Ltd		3,146
	17,927		Sturm Ruger & Co, Inc		749
	587,254	e	Sumitomo Forestry Co Ltd		7,841
	10,110		Superior Uniform Group, Inc		163
	3,140		Surteco SE		70
	12,374		Swatch Group AG.		3,285
	3,217		Swatch Group AG. (Registered)		162
	8,086		Symphony Ltd		147
	488,602		Tainan Spinning Co Ltd		177
	526,600		Taiwan Paiho Ltd		1,313
	31,500		Tamron Co Ltd		679
	1,285,729		Tapestry, Inc		33,493
	1,664,000	*	Tatung Co Ltd		912
	518,436	*	Taylor Morrison Home Corp		13,448
	4,762,479		Taylor Wimpey plc		9,453
	616,100		TCL Corp		307
	2,830,000		TCL Multimedia Technology Holdings Ltd		1,418
	9,282	*,g	TCNS Clothing Co Ltd		96
	140,017	g	Technogym S.p.A		1,556
	16,524		Ted Baker plc		197
	64,088	e	Telford Homes plc		275
	151,762	*	Tempur Sealy International, Inc		11,716
	1,490,000		Texhong Textile Group Ltd		1,366
	458,000		Texwinca Holdings Ltd		105
	59,543	g	Thule Group AB		1,127
	271,436		Titan Industries Ltd		4,878
	7,058	e	Tod’s S.p.A.		347
	30,290		Token Corp		1,864
	254,066		Toll Brothers, Inc		10,429
	115,338		TomTom NV		1,293
	124,768		Tomy Co Ltd		1,433

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,076	*	TopBuild Corp	$	4,925
	145,778	*	TRI Pointe Homes, Inc		2,193
	223,800		TSI Holdings Co Ltd		1,245
	4,076		TTK Prestige Ltd		358
	52,062		Tupperware Corp		826
	1,211,651	*,e	Under Armour, Inc (Class A)		24,160
	299,528	*	Under Armour, Inc (Class C)		5,430
	16,205	*	Unifi, Inc		355
	77,802	*	Universal Electronics, Inc		3,960
	12,700	e	Universal Entertainment Corp		412
	3,870		VAN DE Velde		99
	26,768		Vardhman Textiles Ltd		357
	150,537	*	Vera Bradley, Inc		1,520
	31,121	*	Vestel Elektronik Sanayi		55
	440,179		VF Corp		39,172
	64,613	*,e	Victoria plc		388
	3,223	*,e	Vince Holding Corp		61
	16,394		VIP Industries Ltd		111
	122,414	*	Vista Outdoor, Inc		758
	47,000	*	Vulcabras Azaleia S.A.		90
	23,513		Wacoal Holdings Corp		607
	170,500		Weiqiao Textile Co		45
	498,612		Welspun India Ltd		371
	103,213		Whirlpool Corp		16,345
	32,368		Whirlpool of India Ltd		863
	135,162	*	William Lyon Homes, Inc		2,752
	88,267		Wolverine World Wide, Inc		2,494
	41,723		Woongjin Coway Co Ltd		2,955
	1,133,000		XTEP International Holdings		613
	21,804		Yamaha Corp		983
	32,202	*,e	YETI Holdings, Inc		902
	8,300	e	Yondoshi Holdings, Inc		203
	32,000	e	Yonex Co Ltd		159
	10,746		Youngone Corp		320
	8,510		Youngone Holdings Co Ltd		337
	534,407		Yue Yuen Industrial Holdings		1,460
	26,843	*,e	Zagg, Inc		168
	10,800		Zhejiang Semir Garment Co Ltd		19
	22,900	e	Zojirushi Corp		304
			TOTAL CONSUMER DURABLES & APPAREL		2,286,540
CONSUMER SERVICES - 2.2%
	8,500	*,e	500.com Ltd (ADR)		91
	211,214		888 Holdings plc		400
	369,522		AA plc		273
	53,256	*,g	AcadeMedia AB		246
	1,061,812		Accor S.A.		44,260
	720,900		Accordia Golf Trust		279
	59,404	*	Adtalem Global Education, Inc		2,263
	895,548		Advtech Ltd		739
	3,900		Aeon Fantasy Co Ltd		107
	16,000	*	Afya Ltd		410
	235,000		Ajisen China Holdings Ltd		66
	608,700	*,e	Alsea SAB de C.V.		1,415

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,225	*	American Public Education, Inc	$	899
	599,891		ARAMARK Holdings Corp		26,143
	10,700		ARCLAND SERVICE Co Ltd		192
	28,200	*	Arco Platform Ltd		1,429
	8,409,079	a	Arcos Dorados Holdings, Inc		56,509
	237,560		Ardent Leisure Group Ltd		155
	603,644		Aristocrat Leisure Ltd		12,480
	50,300	e	Atom Corp		454
	147,262		Autogrill S.p.A.		1,426
	22,962	*,g	Basic-Fit NV		719
	227,577		BBX Capital Corp		1,063
	422,500	*,e	Beijing Sports and Entertainment Industry Group Ltd		18
	53,625		Benesse Holdings, Inc		1,397
	1,831,200		Berjaya Sports Toto BHD		1,154
	12,606		bet-at-home.com AG.		643
	681,234	e	Betsson AB		3,297
	10,610	*	Biglari Holdings, Inc (B Shares)		1,157
	56,727		BJ’s Restaurants, Inc		2,203
	81,700		BK Brasil Operacao e Assessoria a Restaurantes S.A.		405
	1,842,500		Bloomberry Resorts Corp		386
	93,033		Bloomin’ Brands, Inc		1,761
	9,012	e	Bluegreen Vacations Corp		84
	83,448		Boyd Gaming Corp		1,999
	134,894	*	Bright Horizons Family Solutions		20,571
	10,900	e	Bright Scholar Education Holdings Ltd (ADR)		105
	66,168	e	Brinker International, Inc		2,823
	4,300	e	BRONCO BILLY Co Ltd		92
	903,382	*	Caesars Entertainment Corp		10,533
	1,480,000		Cafe de Coral Holdings Ltd		3,963
	654,394	*	Career Education Corp		10,398
	811,117		Carnival Corp		35,454
	105,235		Carnival plc		4,355
	79,743		Carriage Services, Inc		1,630
	241,006	*	Carrols Restaurant Group, Inc		1,998
	65,714	*	Century Casinos, Inc		508
	22,081	*	Chalet Hotels Ltd		98
	43,647	e	Cheesecake Factory		1,819
	121,790	*	Chegg, Inc		3,648
	559,000		China Education Group Holdings Ltd		821
	80,300		China International Travel Service Corp Ltd		1,047
	700,000	e	China Maple Leaf Educational Systems Ltd		220
	231,000	e,g	China New Higher Education Group Ltd		91
	988,000		China Travel International Inv HK		154
	540,640	g	China Yuhua Education Corp Ltd		272
	104,027	*	Chipotle Mexican Grill, Inc (Class A)		87,432
	61,861	e	Choice Hotels International, Inc		5,503
	36,801		Churchill Downs, Inc		4,543
	17,259	*	Chuy’s Holdings, Inc		427
	6,354		Cie des Alpes		177
	47,965		City Lodge Hotels Ltd		269
	12,873		Collectors Universe		367
	333,077		Collins Foods Ltd		2,252
	35,100	e	Colowide Co Ltd		651

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,931,631		Compass Group plc	$	75,439
	49,051	e	Corporate Travel Management Ltd		625
	44,140		Cox & Kings India Ltd		2
	20,135	e	Cracker Barrel Old Country Store, Inc		3,275
	22,900		Create Restaurants Holdings, Inc		374
	477,803		Crown Resorts Ltd		3,887
	71,765	e	Curro Holdings Ltd		89
	67,500		CVC Brasil Operadora e Agencia de Viagens S.A.		907
	195,429		Dadi Early-Childhood Education Group Ltd		1,619
	9,568		Daekyo Co Ltd		48
	81,000		Dahan Development Corp		160
	4,200	e	Daisyo Corp		61
	106,626		Dalata Hotel Group plc		569
	105,002		Darden Restaurants, Inc		12,413
	37,526	e	Dave & Buster’s Entertainment, Inc		1,462
	28,346	*	Del Taco Restaurants, Inc		290
	116,523	*	Denny’s Corp		2,653
	27,246		Dignity plc		171
	17,145	e	Dine Brands Global Inc.		1,301
	6,002		DO & CO AG.		553
	76,062	e	Domino’s Pizza Enterprises Ltd		2,384
	267,254		Domino’s Pizza Group plc		837
	73,897		Domino’s Pizza, Inc		18,074
	5,726		DoubleUGames Co Ltd		264
	17,800		Doutor Nichires Holdings Co Ltd		354
	65,101	*	Drive Shack, Inc		281
	1,722,310	*	Dubai Parks & Resorts PJSC		99
	211,716		Dunkin Brands Group, Inc		16,802
	16,109		Dur Hospitality Co		88
	102,753		EIH Ltd		265
	23,096	*,e	El Pollo Loco Holdings, Inc		253
	68,463	*,e	Eldorado Resorts, Inc		2,730
	55,646	g	Elior Participations S.C.A		739
	19,769	*	Emerson Pacific, Inc		226
	5,197	*,e	Empire Resorts, Inc		50
	697,617	*	Enterprise Inns plc		2,412
	633,600		Erawan Group PCL		121
	359,873	g	Evolution Gaming Group AB		7,072
	578,917		Extended Stay America, Inc		8,475
	37,500		Fairwood Holdings Ltd		106
	37,027		Famous Brands Ltd		199
	2,620		Fattal Holdings 1998 Ltd		398
	26,973	*	Fiesta Restaurant Group, Inc		281
	89,788		Flight Centre Travel Group Ltd		2,884
	24,990		Formosa International Hotels Corp		127
	360,428	*	frontdoor, Inc		17,506
	416,000		Fu Shou Yuan International Group Ltd		368
	14,499	e	Fuji Kyuko Co Ltd		603
	3,000	*	Fujio Food System Co Ltd		81
	4,300		Fujita Kanko, Inc		112
	247,194	e	G8 Education Ltd		432
	17,100		GAEC Educacao S.A.		85
	3,421,306		Galaxy Entertainment Group Ltd		21,211
	5,000	e	Genki Sushi Co Ltd		126

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,117,392		Genting BHD	$	2,904
	3,828,834		Genting Singapore Ltd		2,438
	17,375	*	Golden Entertainment, Inc		231
	43,739		Gourmet Master Co Ltd		202
	7,796		Graham Holdings Co		5,172
	85,472	*	Grand Canyon Education, Inc		8,393
	14,579		Grand Korea Leisure Co Ltd		252
	74,110	*,e	Great Canadian Gaming Corp		2,313
	268,137		Greene King plc		2,791
	274,592		Greggs plc		7,059
	445,269		GVC Holdings plc		4,067
	464,158		H&R Block, Inc		10,963
	52,421	*	Habit Restaurants, Inc		458
	517,000	*,g	Haichang Holdings Ltd		76
	335,000	g	Haidilao International Holding Ltd		1,431
	4,323		Hana Tour Service, Inc		160
	8,672		Herfy Food Services Co		121
	13,705	e	Hiday Hidaka Corp		266
	220,664	*	Hilton Grand Vacations, Inc		7,061
	496,755		Hilton Worldwide Holdings, Inc		46,253
	19,300		HIS Co Ltd		480
	211,500		Hongkong & Shanghai Hotels		206
	888,000	g	Hope Education Group Co Ltd		129
	177,300	*,e	Hoteles City Express SAB de C.V.		153
	447,986	*	Houghton Mifflin Harcourt Co		2,388
	115,075		Huangshan Tourism Development Co Ltd		112
	119,700	e	Huazhu Group Ltd (ADR)		3,953
	70,195		Hyatt Hotels Corp		5,171
	8,300		Ichibanya Co Ltd		391
	548,182		IDP Education Ltd		5,769
	547,451		Indian Hotels Co Ltd		1,235
	133,416		InterContinental Hotels Group plc		8,326
	239,694	e	International Game Technology plc		3,406
	36,523		International Speedway Corp (Class A)		1,644
	74,992	e	Invocare Ltd		702
	71,023	*	J Alexander’s Holdings, Inc		832
	146,282		Jack in the Box, Inc		13,329
	46,474	*	Jackpotjoy plc		421
	10,500		Japan Best Rescue System Co Ltd		103
	336,647		Jollibee Foods Corp		1,442
	78,966		Jubilant Foodworks Ltd		1,516
	232,112	e	Jumbo Interactive Ltd		3,791
	341,906	*	K12, Inc		9,026
	11,772	*,e	Kambi Group plc		196
	104,290		Kangwon Land, Inc		2,576
	15,100	e	Kappa Create Co Ltd		198
	12,600	e	Kisoji Co Ltd		318
	48,500	*	KNT-CT Holdings Co Ltd		712
	24,400		KOMEDA Holdings Co Ltd		456
	117,800		Koshidaka Holdings Co Ltd		1,878
	6,100	*,e	Kourakuen Holdings Corp		132
	1,251,145		Kroton Educacional S.A.		3,367
	7,100	e	Kura Corp		295

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,446	*	Kura Sushi USA, Inc	$	205
	17,000	e	Kyoritsu Maintenance Co Ltd		730
	1,028,063		Las Vegas Sands Corp		59,381
	628,105	*	Laureate Education, Inc		10,411
	52,187		Leejam Sports Co JSC		1,134
	106,682	*,g	Lemon Tree Hotels Ltd		86
	104,461	g	LeoVegas AB		383
	220,639	*	Lindblad Expeditions Holdings, Inc		3,698
	6,254	*	Lotte Tour Development Co Ltd		59
	2,373,000		Macau Legend Development Ltd		263
	1,373,000		Magnum BHD		928
	437,700	e	Mandarin Oriental International Ltd		683
	451,010		Marriott International, Inc (Class A)		56,092
	86,906		Marriott Vacations Worldwide Corp		9,004
	351,824		Marston’s plc		534
	3,800		Matsuya Foods Co Ltd		137
	2,375,144		McDonald’s Corp		509,967
	143,763		McDonald’s Holdings Co Japan Ltd		6,964
	3,761		MegaStudyEdu Co Ltd		107
	7,700		Meiko Network Japan Co Ltd		63
	611,442		Melco Crown Entertainment Ltd (ADR)		11,868
	4,857,000		Melco International Development		11,539
	66,165		Melia Hotels International S.A.		513
	144,296	g	Merlin Entertainments plc		803
	6,110,373	e	MGM China Holdings Ltd		9,514
	820,198		MGM Resorts International		22,736
	1		Minor International PCL (ADR)		0	^
	2,274,108		Minor International PCL (Foreign)		2,788
	414,000	*,e,g	Minsheng Education Group Co Ltd		69
	204,449	*	Mitchells & Butlers plc		963
	7,006		Modetour Network, Inc		89
	11,762	*	Monarch Casino & Resort, Inc		490
	2,800		Monogatari Corp		262
	14,200	e	MOS Food Services, Inc		326
	26,731	e	MTY Food Group, Inc		1,279
	2,431		Nathan’s Famous, Inc		175
	102,981		NetEnt AB		318
	278,898	*	New Oriental Education & Technology Group (ADR)		30,891
	29,575	*,e	Noodles & Co		167
	376,975	*	Norwegian Cruise Line Holdings Ltd		19,516
	7,400		Ohsho Food Service Corp		479
	35,600	*,e	OneSmart International Education Group Ltd (ADR)		263
	46,557	*,e	OneSpaWorld Holdings Ltd		723
	560,369		OPAP S.A.		5,765
	12,092	*,e	Orascom Development Holding AG.		183
	269,286		Oriental Land Co Ltd		41,043
	72,006		Paddy Power plc		6,731
	77,100		Pandox AB		1,536
	23,107	e	Papa John’s International, Inc		1,210
	21,809		Paradise Co Ltd		337
	115,724		Park Lawn Corp		2,257
	38,470	†	Patisserie Holdings plc		1
	2,252,230	*	Penn National Gaming, Inc		41,948
	6,500	e	Pepper Food Service Co Ltd		94

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,200	e	PIA Corp	$	182
	330,074	*	Planet Fitness, Inc		19,101
	185,365	*	PlayAGS, Inc		1,906
	178,935		Playtech Ltd		938
	11,900		Plenus Co Ltd		200
	700,300	*	PointsBet Holdings Ltd		1,684
	27,556	*	Potbelly Corp		120
	8,946		RCI Hospitality Holdings, Inc		185
	45,138		Recipe Unlimited Corp		892
	26,519	*	Red Lion Hotels Corp		172
	13,605	*	Red Robin Gourmet Burgers, Inc		453
	424,397		Red Rock Resorts, Inc		8,617
	284,000		Regal Hotels International Holdings Ltd		150
	128,546	*	Regis Corp		2,599
	6,600	e	Renaissance, Inc		98
	3,749,929		Resorts World BHD		2,717
	50,700	e	Resorttrust, Inc		823
	824,340	e	Restaurant Brands International, Inc		58,644
	267,996		Restaurant Brands International, Inc (Toronto)		19,055
	21,536		Restaurant Brands New Zealand Ltd		152
	278,935		Restaurant Group plc		488
	10,700	e	Ringer Hut Co Ltd		256
	12,400	*,e	RISE Education Cayman Ltd (ADR)		104
	93,100		Riso Kyoiku Co Ltd		380
	108,200		Round One Corp		1,623
	621,577		Royal Caribbean Cruises Ltd		67,335
	14,700		Royal Holdings Co Ltd		373
	68,911	e	Ruth’s Chris Steak House, Inc		1,407
	16,600		Saizeriya Co Ltd		427
	5,070,875		Sands China Ltd		22,914
	38,453		Saudi Airlines Catering Co		898
	37,401	g	Scandic Hotels Group AB		300
	271,219	*	Scientific Games Corp (Class A)		5,519
	121,003	*,e	SeaWorld Entertainment, Inc		3,185
	73,977	*	Seera Group Holding		367
	144,434	*,e	Select Interior Concepts Inc		1,873
	29,296	g	Ser Educacional S.A.		158
	314,210		Service Corp International		15,022
	317,353	*	ServiceMaster Global Holdings, Inc		17,740
	30,350	*	Shake Shack, Inc		2,976
	638,000		Shanghai Jinjiang International Hotels Group Co Ltd		96
	2,448,120		Shangri-La Asia Ltd		2,495
	156,400		Shenzhen Overseas Chinese Town Co Ltd		154
	901		Shinsegae Food Co Ltd		58
	59,200	*,e	Silver Life Co Ltd		1,436
	182,824		Six Flags Entertainment Corp		9,286
	1,744,148		SJM Holdings Ltd		1,656
	102,892		SkiStar AB		1,315
	393,372		Sky City Entertainment Group Ltd		988
	161,100	e	Skylark Co Ltd		2,933
	81,711		Sodexho Alliance S.A.		9,173
	1,100		Songcheng Performance Development Co Ltd		4
	33,831	*	Sotheby’s (Class A)		1,928

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,634,163		SSP Group PLC	$	12,444
	9,000		St Marc Holdings Co Ltd		198
	473,962		Star Entertainment Grp Ltd		1,396
	2,232,043		Starbucks Corp		197,357
	215,415	*,e	Stars Group, Inc		3,224
	104,336		Strategic Education, Inc		14,177
	5,100		Studio Alice Co Ltd		95
	215,100	*	Sun International Ltd		652
	38,200		Sushiro Global Holdings Ltd		2,572
	1,784,130		Tabcorp Holdings Ltd		5,840
	361,312	*	TAL Education Group (ADR)		12,371
	18,700	e	Tarena International, Inc (ADR)		19
	33,810	*,e	Target Hospitality Corp		230
	228,659		Texas Roadhouse, Inc (Class A)		12,009
	40,574		Thomas Cook India Ltd		77
	269,000		Tianli Education International Holdings Ltd		104
	12,200	*,e	TKP Corp		597
	213,300	e	Tokyo Dome Corp		2,056
	9,200		Tokyotokeiba Co Ltd		280
	12,500		Toridoll.corp		282
	8,700		Tosho Co Ltd		192
	1,682,821		Tsogo Sun Gaming Ltd		1,466
	581,256		TUI AG. (DI)		6,751
	17,500	*,e	Tuniu Corp (ADR)		52
	21,420		Twin River Worldwide Holdings Inc		489
	256,201	e	Unibet Group plc (ADR)		1,495
	104,747		Vail Resorts, Inc		23,836
	12,500		Watami Co Ltd		157
	73,900		Wendy’s		1,477
	15,497	*	Westlife Development Ltd		65
	82,470		Wetherspoon (J.D.) plc		1,572
	223,999		Whitbread plc		11,823
	929,394		William Hill plc		2,144
	162,871		Wingstop, Inc		14,215
	280,000		Wisdom Education International Holdings Co Ltd		113
	187,566	*	WW International Inc		7,094
	159,466		Wyndham Destinations, Inc		7,339
	151,717		Wyndham Hotels & Resorts, Inc		7,850
	1,359,909		Wynn Macau Ltd		2,650
	338,833		Wynn Resorts Ltd		36,838
	528,600		YDUQS Part		4,590
	5,100	e	Yomiuri Land Co Ltd		211
	37,800	e	Yoshinoya D&C Co Ltd		857
	1,689,503		Yum China Holdings, Inc		76,754
	458,831		Yum! Brands, Inc		52,045
	71,600	e	Zensho Co Ltd		1,547
			TOTAL CONSUMER SERVICES		2,458,812
DIVERSIFIED FINANCIALS - 3.8%
	612,959		3i Group plc		8,773
	18,131		ABC Arbitrage		131
	18,120		Ackermans & Van Haaren		2,752
	52,321		Acom Co Ltd		206
	122,500		Aeon Credit Service M BHD		427

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	87,920	e	AEON Financial Service Co Ltd	$	1,329
	34,300		Aeon Thana Sinsap Thailand PCL		234
	87,833		Affiliated Managers Group, Inc		7,321
	33,425		AG Mortgage Investment Trust		506
	93,750		AGF Management Ltd		439
	874,509		AGNC Investment Corp		14,071
	193,200	*,e	Aiful Corp		452
	24,046		Aker ASA (A Shares)		1,278
	74,141	e	Alaris Royalty Corp		1,102
	1,356,141		Alexander Forbes Group Holdings Ltd		501
	1,258,329		Ally Financial, Inc		41,726
	654,320		Amanat Holdings PJSC		161
	2,958,302		American Express Co		349,908
	249,511		Ameriprise Financial, Inc		36,703
	278,215	g	Amigo Holdings plc		232
	3,296,777		AMP Ltd		4,066
	183,346	g	Amundi S.A.		12,771
	978,517	g	Anima Holding S.p.A		3,727
	1,294,328		Annaly Capital Management, Inc		11,390
	93,500		Anworth Mortgage Asset Corp		309
	53,800	*	Anxin Trust Co Ltd		36
	417,365		Apollo Commercial Real Estate Finance, Inc		8,001
	394,215		Apollo Global Management, Inc		14,909
	241,077		Ares Commercial Real Estate Corp		3,672
	70,853		Ares Management Corp		1,900
	36,897	e	Arlington Asset Investment Corp (Class A)		203
	61,768	*,e	ARMOUR Residential REIT, Inc		1,035
	185,025	e	Arrow Global Group plc		494
	260,211		Artisan Partners Asset Management, Inc		7,348
	29,640	*	Aseer Trading Tourism & Manufacturing Co		72
	2,516,137		Ashmore Group plc		15,654
	14,028	*	Assetmark Financial Holdings, Inc		365
	3,111	e	Associated Capital Group, Inc		111
	12,367		Aurelius AG.		511
	443,190		Australian Stock Exchange Ltd		24,287
	60,786		Avanza Bank Holding AB		495
	33,800		Avic Capital Co Ltd		22
	1,750,416		AXA Equitable Holdings, Inc		38,789
	76,548	*	Axactor SE		145
	2,215	*,†	Ayala Corp Preferred		0	^
	178,034	e	Azimut Holding S.p.A.		3,341
	21,485		B. Riley Financial, Inc		507
	141,030	e	B2Holding ASA		97
	2,764,853		B3 S.A.-Brasil Bolsa Balcao		29,033
	295,262		Bajaj Finance Ltd		16,881
	526,295	g	Banca Farmafactoring S.p.A		2,743
	285,854		Banca Generali S.p.A		8,816
	51,224		Banca IFIS S.p.A.		854
	85,070	e	Banca Mediolanum S.p.A		639
	184,100		Banco BTG Pactual S.A.		2,594
	52,392		Banco Latinoamericano de Exportaciones S.A. (Class E)		1,045
	1,687,767		Bank of New York Mellon Corp		76,304

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	507,064	e	BGC Partners, Inc (Class A)	$	2,789
	195,318		BlackRock, Inc		87,041
	793,521	e	Blackstone Group, Inc		38,756
	152,181	e	Blackstone Mortgage Trust, Inc		5,456
	141,530	*	Blucora, Inc		3,063
	1,520,000	e	BOCOM International Holdings Co Ltd		233
	260,700		Bolsa Mexicana de Valores S.A. de C.V.		490
	43,535		Bolsas y Mercados Espanoles		1,099
	144,478	*,e	Brait S.A.		143
	891,224		Brewin Dolphin Holdings plc		3,484
	2,932,000	e	Bright Smart Securities & Commodities Group Ltd		487
	875,875		Brightsphere Investment Group, Inc		8,680
	1,189,621		Brookfield Asset Management, Inc		63,169
	4,549		BSE Ltd		36
	197,331		BT Investment Management Ltd		986
	58,930		Bure Equity AB		861
	571,811	e	Burford Capital Ltd		5,773
	353,300		Bursa Malaysia BHD		515
	174,400		Caitong Securities Co Ltd		244
	194,069		Canaccord Financial, Inc		765
	194,855	*	Cannae Holdings, Inc		5,353
	1,129,661		Capital One Financial Corp		102,777
	765,990		Capital Securities Corp		218
	417,789		Capstead Mortgage Corp		3,071
	252,920		CBOE Global Markets, Inc		29,063
	131,351		Cembra Money Bank AG.		13,689
	27,710		Century Leasing System, Inc		1,289
	110,661		Cerved Information Solutions S.p.A		965
	3,178,327		Chailease Holding Co Ltd		12,836
	672,196		Challenger Financial Services Group Ltd		3,348
	275,500		Changjiang Securities Co Ltd		271
	2,042,875		Charles Schwab Corp		85,453
	13,124	e	Cherry Hill Mortgage Investment Corp		172
	343,572		Chimera Investment Corp		6,720
	473,000		China Bills Finance Corp		226
	8,653,105		China Cinda Asset Management Co Ltd		1,700
	1,248,000	†	China Ding Yi Feng Holdings Ltd		2,759
	937,125		China Everbright Ltd		1,097
	3,488,045		China Galaxy Securities Co Ltd		1,857
	9,944,000	g	China Huarong Asset Management Co Ltd		1,497
	1,124,800	e,g	China International Capital Corp Ltd		2,183
	186,900		China Merchants Securities Co Ltd		431
	484,057		CI Financial Corp		7,063
	3,345,415		CITIC Securities Co Ltd		6,268
	425,200		CITIC Securities Co Ltd (Class A)		1,342
	86,947		Close Brothers Group plc		1,505
	76,396	g	CMC Markets plc		100
	833,454		CME Group, Inc		176,142
	417,224		Coface S.A.		4,739
	23,446		Cohen & Steers, Inc		1,288
	83,332		Colony Credit Real Estate, Inc		1,205
	1,085,400		Concentradora Hipotecaria SAPI de C.V.		1,055
	134,413		Coronation Fund Managers Ltd		369
	14,238		Corp Financiera Alba		694

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	195,187	*	Corp Financiera Colombiana S.A.	$	1,573
	63,368	*	Cowen Group, Inc		975
	40,316	*	Credit Acceptance Corp		18,598
	21,025		Credit Analysis & Research Ltd		154
	30,679		Credit Corp Group Ltd		625
	71,504		Credit Saison Co Ltd		964
	6,420,878		Credit Suisse Group		78,547
	114,751	e	Credito Real SAB de C.V.		131
	22,383		CRISIL Ltd		433
	19,586	*	Curo Group Holdings Corp		260
	377,341		Daewoo Securities Co Ltd		2,363
	21,220		Daishin Securities Co Ltd		233
	11,433		Daishin Securities Co Ltd PF		90
	1,403,795	e	Daiwa Securities Group, Inc		6,282
	6,775		Daou Data Corp		47
	97,184		Daou Technology, Inc		1,616
	44,464		DeA Capital S.p.A.		65
	64,264		Deutsche Bank AG. (Registered)		480
	6,971		Deutsche Beteiligungs AG.		264
	136,201		Deutsche Boerse AG.		21,242
	15,437		Diamond Hill Investment Group, Inc		2,132
	1,155,000	*,e	Dingyi Group Investment Ltd		39
	856,855		Discover Financial Services		69,482
	38,169	g	doBank S.p.A		423
	114,800		Dongxing Securities Co Ltd		176
	31,802	*	Donnelley Financial Solutions, Inc		392
	996,168		Dubai Financial Market		232
	22,627	e	Dynex Capital, Inc		334
	795,406		E*TRADE Financial Corp		34,751
	313,500		East Money Information Co Ltd		650
	200,527		Eaton Vance Corp		9,010
	290,750		ECN Capital Corp		1,003
	3,533,755		Edelweiss Capital Ltd		4,742
	6,728	*	EFG Financial Products Holding AG.		224
	46,838		EFG International		290
	18,900		eGuarantee, Inc		262
	296,038		Egyptian Financial Group-Hermes Holding		353
	570,638	e	Element Financial Corp		4,566
	20,075	*	Elevate Credit, Inc		85
	397,073		Ellington Financial Inc		7,175
	2,022,000		Emperor Capital Group Ltd		62
	31,767	*,e	Encore Capital Group, Inc		1,059
	419,259	*	Enova International, Inc		8,700
	550,000	*	EQT AB		4,887
	238,422	*	Equitas Holdings Ltd		350
	9,856		Eurazeo		733
	1,223,427	g	Euronext NV		100,175
	156,400		Everbright Securities Co Ltd		249
	133,254		Evercore Partners, Inc (Class A)		10,674
	167,540		Exantas Capital Corp		1,905
	125,896		EXOR NV		8,432
	51,933	*	Ezcorp, Inc (Class A)		335
	36,345		Factset Research Systems, Inc		8,831

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,090,276		Far East Horizon Ltd	$	1,941
	101,077		Federated Investors, Inc (Class B)		3,276
	716,580		FGL Holdings		5,718
	70,137		Fiera Capital Corp		545
	158,000	e	Financial Products Group Co Ltd		1,583
	6,937	*	FinTech Group AG.		187
	1,402,000		First Pacific Co		537
	105,577		FirstCash, Inc		9,678
	7,000,789	e	FirstRand Ltd		28,763
	886,704		FlexiGroup Ltd		1,529
	29,662	g	Flow Traders		777
	31,108	*	Focus Financial Partners, Inc		740
	287,000		Founder Securities Co Ltd		277
	511,750		Franklin Resources, Inc		14,769
	24,785,303		Fuhwa Financial Holdings Co Ltd		14,789
	14,400		Fuyo General Lease Co Ltd		868
	18,569	e	Gain Capital Holdings, Inc		98
	4,939		GAMCO Investors, Inc (Class A)		97
	5,526,500	e	Gentera SAB de C.V.		4,559
	1,466,600	*	GF Securities Co Ltd		1,537
	160,900	*	GF Securities Co Ltd (Class A)		306
	10,984		Gimv NV		663
	57,100		GMO Financial Holdings, Inc		316
	280,519	e	goeasy Ltd		12,611
	745,687		Goldman Sachs Group, Inc		154,529
	56,654		Granite Point Mortgage Trust, Inc		1,062
	30,676		Great Ajax Corp		475
	114,187	*	Green Dot Corp		2,883
	19,077	e	Greenhill & Co, Inc		250
	15,997		GRENKELEASING AG.		1,318
	71,951		Groupe Bruxelles Lambert S.A.		6,906
	396,201		Grupo de Inversiones Suramericana S.A.		3,757
	106,808		Grupo de Inversiones Suramericana S.A. (Preference)		902
	17,303		Gruppo MutuiOnline S.p.A		311
	125,000		Guosen Securities Co Ltd		215
	1,771,800	e	Guotai Junan International Hol		301
	281,900		Guotai Junan Securities Co Ltd		695
	789,000	g	Guotai Junan Securities Co Ltd (Hong Kong)		1,227
	160,900		Guoyuan Securities Co Ltd		193
	2,016	e	GWG Holdings Inc		20
	777,390		Haci Omer Sabanci Holding AS		1,316
	2,698,562		Haitong Securities Co Ltd		2,830
	350,900		Haitong Securities Co Ltd (Class A)		705
	23,597		Hamilton Lane, Inc		1,344
	9,660		Hankook Tire Worldwide Co Ltd		115
	51,081	*	Hanwha Securities Co		90
	236,937		Hargreaves Lansdown plc		6,049
	28,193		Hellenic Exchanges S.A.		141
	34,600		Hitachi Capital Corp		706
	23,400		Hithink RoyalFlush Information Network Co Ltd		326
	46,698	g	Hoist Finance AB		265
	1,482,037		Hong Kong Exchanges and Clearing Ltd		43,439
	43,529		Houlihan Lokey, Inc		1,963
	201,200		Huaan Securities Co Ltd		174

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,648,000	e,g	Huatai Securities Co Ltd	$	2,470
	284,416		Huatai Securities Co Ltd (Class A)		762
	115,400		Huaxi Securities Co Ltd		159
	29,651		HUB24 Ltd		253
	1,724	*	Hypoport AG.		429
	35,500		IBJ Leasing Co Ltd		966
	16,200		Ichiyoshi Securities Co Ltd		102
	31,902	g	ICICI Securities Ltd		125
	365,175	*	IFCI Ltd		36
	235,536		IG Group Holdings plc		1,745
	217,884		IGM Financial, Inc		6,187
	154,423	*	IIFL Securities Ltd		67
	22,060	*	IIFL Wealth Management Ltd		384
	1,014,749		Indiabulls Housing Finance Ltd		3,678
	146,938		Indiabulls Securities Ltd		257
	69,952	g	Indian Energy Exchange Ltd		119
	270,500		Industrial Securities Co Ltd		236
	588,872		Industrivarden AB		12,882
	345,639		Infrastructure Development Finance Co Ltd		168
	478,290		IntegraFin Holdings plc		2,329
	120,961		Interactive Brokers Group, Inc (Class A)		6,505
	1,120,174		IntercontinentalExchange Group, Inc		103,358
	682,164		Intermediate Capital Group plc		12,198
	122,166		International Personal Finance plc		166
	63,002	*	INTL FCStone, Inc		2,587
	102,509		Inversiones La Construccion S.A.		1,582
	690,224		Invesco Ltd		11,692
	448,000		Invesco Mortgage Capital, Inc		6,859
	620,515		Investec Ltd		3,272
	709,447		Investec plc		3,650
	13,309		Investment AB Kinnevik (B Shares)		350
	15,467		Investment AB Oresund		186
	245,346		Investor AB (B Shares)		11,982
	182,648	e	IOOF Holdings Ltd		790
	5,570		iShares Core S&P 500 ETF		1,663
	133,226		iShares Dow Jones US Real Estate Index Fund		12,462
	21,300	e	iShares MSCI ACWI ex US ETF		981
	423,590	e	iShares MSCI Canada Index Fund		12,242
	2,105,306		iShares MSCI EAFE Index Fund		137,287
	17,200	e	iShares MSCI EAFE Small-Cap ETF		984
	1,198,962	e	iShares MSCI Emerging Markets		49,002
	2,370		iShares MSCI South Korea Index Fund		134
	204,434	e	iShares Russell 1000 Value Index Fund		26,221
	100	e	iShares Russell 2000 Index Fund		15
	160,000	e	iShares Russell Midcap Growth Index Fund		22,616
	122,200	e	J Trust Co Ltd		451
	107,700		Jaccs Co Ltd		2,283
	35,310	*	Jafco Co Ltd		1,343
	286,808		Janus Henderson Group plc		6,442
	7,300	e	Japan Investment Adviser Co Ltd		125
	83,900		Japan Securities Finance Co Ltd		392
	412,283		Jefferies Financial Group, Inc		7,586
	28,100	*,e	Jianpu Technology, Inc (ADR)		70

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	684,428		Jih Sun Financial Holdings Co Ltd	$	218
	356,813		JM Financial Ltd		400
	210,676		JSE Ltd		1,822
	30,838		Julius Baer Group Ltd		1,366
	93,062		Julius Baer Holding AG.		374
	1,288,814		Jupiter Investment Management Group Ltd		5,634
	112,973		KBC Ancora		5,018
	6,793		KIWOOM Securities Co Ltd		385
	201,196		KKR Real Estate Finance Trust, Inc		3,929
	72,743		Korea Investment Holdings Co Ltd		4,570
	8,220		KRUK S.A.		310
	147,751	*	Kumho Investment Bank		85
	7,918		Kyobo Securities Co		65
	17,300		Kyokuto Securities Co Ltd		138
	239,505		Ladder Capital Corp		4,136
	445,460		Ladenburg Thalmann Financial Services, Inc		1,056
	249,045		Lazard Ltd (Class A)		8,717
	211,249		Legg Mason, Inc		8,068
	103,906	*	LendingClub Corp		1,359
	557,109		London Stock Exchange Group plc		50,028
	373,839		LPL Financial Holdings, Inc		30,617
	156,927		Lundbergs AB (B Shares)		5,902
	9,800	*	M&A Capital Partners Co Ltd		589
	297,029		Macquarie Group Ltd		26,329
	200,233		Magellan Financial Group Ltd		6,974
	67,244		Magma Fincorp Ltd		49
	215,780		Mahindra & Mahindra Financial Services Ltd		1,000
	30,249,384		Man Group plc		64,943
	898,110		Manappuram General Finance & Leasing Ltd		1,791
	81,395		MarketAxess Holdings, Inc		26,657
	8,726		Marlin Business Services Corp		220
	34,100	*,e	Marusan Securities Co Ltd		158
	65,100	*,e	Matsui Securities Co Ltd		548
	21,204	*,e	Medallion Financial Corp		136
	46,287		Meritz finance Holdings Co Ltd		497
	315,116		Meritz Securities Co Ltd		1,328
	32,092,906		Metro Pacific Investments Corp		3,082
	816,247		MFA Mortgage Investments, Inc		6,008
	411,997		Mitsubishi UFJ Lease & Finance Co Ltd		2,390
	106,313		MLP AG.		550
	50,164		Moelis & Co		1,648
	24,847		Moelis Australia Ltd		66
	310,700	e	Monex Beans Holdings, Inc		899
	275,447		Moody’s Corp		56,420
	6,073,613		Morgan Stanley		259,161
	59,677		Morningstar, Inc		8,721
	40,809		Motilal Oswal Financial Services Ltd		373
	193,355		MSCI, Inc (Class A)		42,103
	478,700		Muangthai Capital PCL		893
	1,026,998	*	Multi Commodity Exchange of India Ltd		13,931
	170,726		Muthoot Finance Ltd		1,630
	206,622		NASDAQ OMX Group, Inc		20,528
	339,878		Natixis		1,408
	355,890		Navient Corp		4,555

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	376,028		Navigator Global Investments Ltd	$	848
	10,300		NEC Capital Solutions Ltd		207
	67,905		Nelnet, Inc (Class A)		4,319
	293,536	e	Netwealth Group Ltd		1,811
	733,825		New Residential Investment Corp		11,506
	249,837		New York Mortgage Trust, Inc		1,521
	56,823	*,†	NewStar Financial, Inc		14
	21,666		NICE Holdings Co Ltd		346
	24,400	*,e	Noah Holdings Ltd (ADR)		712
	1,204,379		Nomura Holdings, Inc		5,120
	38,982		Northern Trust Corp		3,638
	46,152		Numis Corp plc		129
	169,400		Okasan Holdings, Inc		604
	500,350	*	On Deck Capital, Inc		1,681
	311,850		OneMain Holdings, Inc		11,439
	183,201		Onex Corp		11,357
	1,696,000		OP Financial Investments Ltd		340
	9,701		Oppenheimer Holdings, Inc		292
	66,613	e	Orchid Island Capital, Inc		383
	3,400,600		Orient Corp		4,584
	137,200		Orient Securities Co Ltd		196
	3,074,714		ORIX Corp		45,995
	442,682		Osaka Securities Exchange Co Ltd		6,995
	149,246		OzForex Group Ltd		161
	45,130		P2P Global Investments plc		449
	12,991		Pargesa Holding S.A.		999
	8,859		Partners Group		6,803
	313,605		PennyMac Mortgage Investment Trust		6,971
	434,910		Peregrine Holdings Ltd		502
	517,000	*,†	Peregrine Investment Holdings		0
	59,121	e	Perpetual Trustees Australia Ltd		1,497
	22,978		Pico Holdings, Inc		232
	65,094	e	Pinnacle Investment Management Group Ltd		194
	856,049	*	Pioneers Holding		288
	13,882		Piper Jaffray Cos		1,048
	23,748		PJT Partners, Inc		967
	160,049	e	Platinum Asset Mangement Ltd		459
	65,260		Plus500 Ltd		612
	755,200	*	Pool Advista Indonesia Tbk PT		93
	1,713,019		Power Finance Corp Ltd		2,406
	37,100	e	PPDAI Group, Inc (ADR)		108
	47,650	*	PRA Group, Inc		1,610
	400,082		President Securities Corp		167
	154,008		Provident Financial plc		771
	112,008		PSG Group Ltd		1,562
	5,045,200	*	PT Kresna Graha Investama Tbk		195
	119,622		Pzena Investment Management, Inc (Class A)		1,067
	3,034,631	g	Quilter plc		5,080
	1,800,000		Ratchthani Leasing PCL		421
	606,118		Ratchthani Leasing PCL		142
	45,025		Rathbone Brothers		1,229
	799,837	e	Ratos AB (B Shares)		2,034
	214,317		Raymond James Financial, Inc		17,673

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,568		Ready Capital Corp	$	518
	103,330		Redwood Trust, Inc		1,696
	50,911	*	Regional Management Corp		1,434
	185,732		Reinet Investments S.C.A		3,366
	33,195		Reliance Capital Ltd		12
	439,791		Remgro Ltd		4,738
	32,426		Repco Home Finance Ltd		143
	1,457,581	e,g	Resurs Holding AB		8,636
	10,800		Ricoh Leasing Co Ltd		350
	624,811	e	RMB Holdings Ltd		3,100
	1,494,730		Rural Electrification Corp Ltd		2,601
	747,222		S&P Global, Inc		183,054
	102,389	*	Safeguard Scientifics, Inc		1,161
	26,213		Samsung Card Co		770
	64,501		Samsung Securities Co Ltd		1,903
	80,705		Sanne Group plc		539
	397,329		Santander Consumer USA Holdings, Inc		10,136
	135,398		SBI Holdings, Inc		2,913
	348,093		Schroders plc		13,158
	38,290		Sculptor Capital Management, Inc		746
	110,100		SDIC Capital Co Ltd		193
	223,070		SEI Investments Co		13,218
	5	*,†	SFCG Co Ltd		0
	5,100		Shanxi Securities Co Ltd		6
	142,000		Sheng Ye Capital Ltd		133
	753,900		Shenwan Hongyuan Group Co Ltd		506
	2,060		Shinyoung Securities Co Ltd		96
	1,147,588		Shriram Transport Finance Co Ltd		17,355
	10,249	*,e	Siebert Financial Corp		94
	7,791		Silvercrest Asset Management Group, Inc		96
	1,958,735		Singapore Exchange Ltd		12,017
	136,500		Sinolink Securities Co Ltd		167
	12,290,000	e	Skyway Securities Group Ltd		257
	874,739		SLM Corp		7,720
	768,475	*,†,e	SNS Reaal		8
	2,737		Societe Fonciere Financiere et de Participations FFP		306
	8,807		Sofina S.A.		1,956
	146,000		SooChow Securities Co Ltd		190
	48,300		Sparx Group Co Ltd		112
	8,000		SPDR Trust Series 1		2,374
	235,603	e	Sprott, Inc		555
	513,285		Srisawad Corp PCL		961
	430,368		St. James’s Place plc		5,176
	2,173,674		Standard Life Aberdeen plc		7,634
	879,891		Starwood Property Trust, Inc		21,311
	670,890		State Street Corp		39,710
	78,647		Stifel Financial Corp		4,513
	4,500		Strike Co Ltd		122
	361,000		Sun Hung Kai & Co Ltd		156
	28,994		Sundaram Finance Ltd		668
	5,103		Swissquote Group Holding S.A.		212
	2,459,901		Synchrony Financial		83,858
	379,113		T Rowe Price Group, Inc		43,314
	1,339,197	e	Tai Fook Securities Group Ltd		380

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	705,100		Taiwan Acceptance Corp	$	2,535
	59,745		Tamburi Investment Partners S.p.A.		404
	5,649		Tata Investment Corp Ltd		65
	770,967		TD Ameritrade Holding Corp		36,004
	1,200,000	*	Tel Aviv Stock Exchange Ltd		3,718
	61,886		TMX Group Ltd		5,341
	109,680	e	Tokai Tokyo Securities Co Ltd		304
	61,907	*	Tong Yang Investment Bank		139
	182,808		TPG RE Finance Trust, Inc		3,627
	588,439		Tullett Prebon plc		2,463
	432,366		Two Harbors Investment Corp		5,677
	2,857,440		UBS AG.		32,445
	91,945		Ujjivan Financial Services Ltd		409
	364,200	e	Unifin Financiera SAPI de C.V. SOFOM ENR		671
	177,211	*	Uranium Participation Corp		568
	9,500	*,e	Uzabase, Inc		185
	1,797		Value Line, Inc		41
	582,000	e	Value Partners Group Ltd		294
	19,620		Vanguard Emerging Markets ETF		790
	25,000		Vanguard FTSE Developed Markets ETF		1,027
	12,989		Verusa Holding AS.		37
	91,369	e	Virtu Financial, Inc		1,495
	6,780		Virtus Investment Partners, Inc		750
	168,090		Vontobel Holding AG.		9,103
	1,548,338		Voya Financial, Inc		84,292
	2,002	e	VP Bank AG.		314
	2,176		VZ Holding AG.		650
	76,549	e	Waddell & Reed Financial, Inc (Class A)		1,315
	106,293		Warsaw Stock Exchange		1,064
	1,449,993		Waterland Financial Holdings		500
	39,928		Wendel		5,502
	341,407		Western Asset Mortgage Capital Corp		3,295
	138,100		Western Securities Co Ltd		173
	49,218		Westwood Holdings Group, Inc		1,362
	140,356		WisdomTree Investments, Inc		733
	141,806		Woori Investment & Securities Co Ltd		1,504
	6,637	*	World Acceptance Corp		846
	25,300		X Financial (ADR)		57
	9,700		Yintech Investment Holdings Ltd (ADR)		48
	5,900	e	Yirendai Ltd (ADR)		41
	715,500	*,e,g	Yixin Group Ltd		167
	470,561		Zeder Investments Ltd		146
	80,900		Zenkoku Hosho Co Ltd		3,161
	498,634	*	Zip Co Ltd		1,568
			TOTAL DIVERSIFIED FINANCIALS		4,284,126
ENERGY - 4.6%
	160,086	*	Abraxas Petroleum Corp		81
	21,419,504		Adaro Energy Tbk		1,947
	220,122	*,e	Advantage Oil & Gas Ltd		357
	38,246		Aegis Logistics Ltd		98
	1,445,000	e	Agritrade Resources Ltd		170
	82,624	*	Akastor ASA		98

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	362,384	e	Aker BP ASA	$	9,656
	87,540	*	Aker Solutions ASA		236
	14,299		Aldrees Petroleum and Transport Services Co		182
	390,100	*	Alfa Energi Investama Tbk PT		66
	51,542	*,e	Altus Midstream Co		146
	166,028		Amplify Energy Corp		1,024
	278,270	*	Anglo Pacific Group plc		674
	351,831	e	Antero Midstream Corp		2,604
	106,119	*,e	Antero Resources Corp		321
	802,000		Anton Oilfield Services Group		80
	325,789		Apache Corp		8,340
	372,066	*	Apergy Corp		10,064
	460,819		ARC Resources Ltd		2,195
	88,254	e	Arch Coal, Inc		6,548
	678,173		Archrock, Inc		6,761
	110,152	*	Ardmore Shipping Corp		737
	546,357	*,e	Athabasca Oil Corp		264
	2,080,589		Baker Hughes a GE Co		48,270
	619,900		Bangchak Corp PCL		552
	4,365,110		Banpu PCL (Foreign)		1,684
	723,883	*	Baytex Energy Trust		1,071
	5,492,047		Beach Petroleum Ltd		9,374
	112,121		Berry Petroleum Co LLC		1,049
	857,309		Bharat Petroleum Corp Ltd		5,704
	344,763		Birchcliff Energy Ltd		557
	221,149	*	Bonanza Creek Energy, Inc		4,952
	40,345	*,e	Borr Drilling Ltd		208
	19,042,467		BP plc		120,553
	767,772		BP plc (ADR)		29,168
	203,144	e	Brigham Minerals, Inc		4,043
	4,650,000	*,†,e	Brightoil Petroleum Holdings Ltd		667
	11,985,300	*	Bumi Armada BHD		930
	390,368	g	BW LPG Ltd		2,284
	504,360	*	BW Offshore Ltd		3,472
	105,163	*	C&J Energy Services, Inc		1,128
	1,223,434		Cabot Oil & Gas Corp		21,496
	196,293	*	Cactus, Inc		5,681
	528,818	*	Cairn Energy plc		1,246
	74,538	*,e	Calfrac Well Services Ltd		88
	49,198	*,e	California Resources Corp		502
	237,824	*,e	Callon Petroleum Co		1,032
	234,339		Caltex Australia Ltd		4,164
	283,137		Cameco Corp (Toronto)		2,689
	1,098,799	*	Canacol Energy Ltd		3,757
	1,149,492		Canadian Natural Resources Ltd (Canada)		30,584
	150,876	e	Cardinal Energy Ltd		282
	92,129	*,e	Carrizo Oil & Gas, Inc		791
	1,172,273		Cenovus Energy, Inc (Toronto)		10,999
	1,073,030	*	Centennial Resource Development, Inc		4,845
	331,626	e	CES Energy Solutions Corp		513
	3,621,942	*	CGG S.A.		8,097
	35,172	*,e	Chaparral Energy Inc		47
	961,472	*	Cheniere Energy, Inc		60,630
	92,612		Chennai Petroleum Corp Ltd		228

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	171,562	*,e	Chesapeake Energy Corp	$	242
	5,298,789		Chevron Corp		628,437
	160,400		China Aviation Oil Singapore Corp Ltd		135
	2,369,000		China Coal Energy Co		964
	1,072,000	*	China LNG Group Ltd		78
	7,633,826		China Oilfield Services Ltd		9,128
	252,300		China Shenhua Energy Co Ltd		664
	10,042,795		China Shenhua Energy Co Ltd (Hong Kong)		20,162
	10,001,000		China Suntien Green Energy Cor		2,744
	70,769	e	Cimarex Energy Co		3,393
	1,353,173	*	Clean Energy Fuels Corp		2,794
	16,792,646		CNOOC Ltd		25,712
	191,079	*	CNX Resources Corp		1,387
	1,581,741		Coal India Ltd		4,466
	118	*,†,b	Cobalt International Energy, Inc		0	^
	103,704		Computer Modelling Group Ltd		478
	15,378	*,e	Comstock Resources Inc		120
	1,336,649	e	Concho Resources, Inc		90,758
	2,369,234		ConocoPhillips		134,999
	76,397	*	CONSOL Energy, Inc		1,194
	364,769	*	Continental Resources, Inc		11,231
	19,436	*	Contura Energy Inc		543
	993,751	*	Cooper Energy Ltd		389
	125	e	Core Laboratories NV		6
	133,428		Cosan SA Industria e Comercio		1,708
	33,900		Cosmo Energy Holdings Co Ltd		702
	62,957	*,e	Covia Holdings Corp		127
	1,135,327		Crescent Point Energy Corp		4,850
	15,816		CropEnergies AG.		109
	30,533		CVR Energy, Inc		1,344
	1,616,708		Dana Gas PJSC		421
	3,211		Delek Group Ltd		373
	2,078,678		Delek US Holdings, Inc		75,456
	783,266	*,e	Denbury Resources, Inc		932
	940,024		Devon Energy Corp		22,617
	506,076		DHT Holdings, Inc		3,112
	9,400,651		Dialog Group BHD		7,629
	73,822	*,e	Diamond Offshore Drilling, Inc		410
	22,602	*,e	Diamond S Shipping Inc		249
	1,350,219		Diamondback Energy, Inc		121,398
	1,186,889	e	Diversified Gas & Oil plc		1,605
	14,780		DMC Global, Inc		650
	2,903,617		DNO International ASA		4,165
	63,940	*	Dommo Energia S.A.		86
	611,904	*	Dorian LPG Ltd		6,339
	72,146	*	Drilling Co of 1972		4,043
	38,401	*,e	Dril-Quip, Inc		1,927
	15,028		E1 Corp		620
	30,092	*	Earthstone Energy, Inc		98
	4,902,730		Ecopetrol S.A.		4,156
	364,934		Empresas COPEC S.A.		3,440
	646,100		Enauta Participacoes S.A.		1,725
	2,266,438		Enbridge, Inc (Toronto)		79,548

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,164,991	e	EnCana Corp	$	5,338
	116,976		Enerflex Ltd		1,026
	1,168,600	*,†	Energy Earth PCL		0	^
	88,714	*,e	Energy Fuels, Inc		171
	450,292		Enerplus Resources Fund		3,355
	479,809		ENI S.p.A.		7,334
	5,762,249	*	Enquest plc (London)		1,355
	186	e	Ensco Rowan plc		1
	160,920		Ensign Energy Services, Inc		372
	2,820,229		EOG Resources, Inc		209,317
	147,592		EQT Corp		1,570
	40,685	*	Equital Ltd		1,230
	104,746	e	Equitrans Midstream Corp		1,524
	21,810	*	Era Group, Inc		230
	171,600		Esso Malaysia BHD		218
	524,800		Esso Thailand PCL (Foreign)		138
	31,447		Etablissements Maurel et Prom		96
	101,364		Euronav NV		923
	182,659		Evolution Petroleum Corp		1,067
	16,942	*	Exmar NV		102
	269,951	*	Exterran Corp		3,526
	105,226	*,e	Extraction Oil & Gas, Inc		309
	210,664	e	Exxaro Resources Ltd		1,817
	8,228,537		Exxon Mobil Corp		581,017
	39,397	e	Falcon Minerals Corp		227
	16,492	*	FLEX LNG Ltd		156
	1,218,814		Formosa Petrochemical Corp		3,856
	384,792	*	Forum Energy Technologies, Inc		596
	109,603	*	Frank’s International NV		521
	117,481	e	Freehold Royalty Trust		667
	136,621		Frontera Energy Corp		1,322
	298,411	*	Frontline Ltd (Sigmax MTF)		2,715
	34,986	*	FTS International, Inc		78
	49,007	*,e	Fugro NV		329
	268,582		Galp Energia SGPS S.A.		4,039
	215,494		GasLog Ltd		2,769
	5,790,651		Gazprom (ADR)		39,956
	64,547		Gaztransport Et Technigaz S.A.		6,386
	13,585	*	Geospace Technologies Corp		209
	260,894		Gibson Energy, Inc		4,480
	510,142		Golar LNG Ltd		6,627
	8,731	*	Goodrich Petroleum Corp		93
	76,667		Great Eastern Shipping Co Ltd		303
	44,148		Green Plains Renewable Energy, Inc		468
	92,858		Grupa Lotos S.A.		2,051
	139,633		GS Holdings Corp		5,869
	513,700		Guanghui Energy Co Ltd		239
	1,414,134	*	Gulf International Services OSC		685
	126,296		Gulf Keystone Petroleum Ltd		355
	319,279	*,e	Gulfport Energy Corp		865
	19,141		Hallador Energy Co		69
	1,280,964		Halliburton Co		24,146
	390		Hankook Shell Oil Co Ltd		109
	425,633	*	Helix Energy Solutions Group, Inc		3,431

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	145,507		Helmerich & Payne, Inc	$	5,830
	401,899		Hess Corp		24,307
	2,707,400	*	Hibiscus Petroleum BHD		616
	116,069	*	HighPoint Resources Corp		185
	1,221,744		Hindustan Petroleum Corp Ltd		5,219
	25,947		Hoegh LNG Holdings Ltd		104
	350,640		HollyFrontier Corp		18,808
	1,417,000	*	Honghua Group Ltd		98
	377,347		Hunting plc		2,124
	949,930	*,e	Hurricane Energy plc		495
	1,404,441		Husky Energy, Inc		9,880
	189,962		Idemitsu Kosan Co Ltd		5,390
	321,706		Imperial Oil Ltd		8,377
	199,518	*,e	Independence Contract Drilling, Inc		239
	3,835,195		Indian Oil Corp Ltd		7,995
	1,671,500		Inner Mongolia Yitai Coal Co		1,533
	4,621,961		Inpex Holdings, Inc		42,595
	402,881	e	Inter Pipeline Ltd		7,070
	25,832	*	International Seaways, Inc		498
	10,798,807		IRPC PCL (Foreign)		1,299
	986	*,e	Isramco, Inc		121
	60,353		Itochu Enex Co Ltd		460
	70,317	*,e	Jagged Peak Energy, Inc		511
	5,900	*,†,b	Japan Drilling Co Ltd		0	^
	356,400		Japan Petroleum Exploration Co		9,067
	22,307		John Wood Group plc		104
	3,350,425		JX Holdings, Inc		15,315
	788,388	*	Keane Group, Inc		4,778
	204,438	*,e	Kelt Exploration Ltd		537
	240,627		Keyera Corp		5,843
	47,501	g	Kinder Morgan Canada Ltd		535
	313,821		Kinder Morgan, Inc		6,468
	25,274	*	KLX Energy Services Holdings, Inc		219
	53,605		Koninklijke Vopak NV		2,755
	1,199,030		Kosmos Energy Ltd		7,482
	55,898		Kvaerner ASA		72
	667,559	*	Laredo Petroleum Holdings, Inc		1,609
	54,583	e	Liberty Oilfield Services, Inc		591
	22,468		Lubelski Wegiel Bogdanka S.A.		202
	643,453		LUKOIL PJSC (ADR)		53,233
	1,179,707	e	Lundin Petroleum AB		35,366
	239,147	*,e	Magnolia Oil & Gas Corp		2,655
	16,366	e	Mammoth Energy Services, Inc		41
	1,612,564		Marathon Oil Corp		19,786
	1,262,362		Marathon Petroleum Corp		76,689
	1,042,741	*,e	Matador Resources Co		17,237
	137,746	*	Matrix Service Co		2,361
	245	*,e	McDermott International, Inc		1
	368,780	*	MEG Energy Corp		1,614
	20,300		Modec, Inc		498
	903,728		MOL Hungarian Oil & Gas plc		8,501
	188,780	*,e	Montage Resources Corp		714
	55,639		Motor Oil Hellas Corinth Refineries S.A.		1,298

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	38,832	e	Murphy Oil Corp	$	859
	932,481		Nabors Industries Ltd		1,744
	84,027		Naphtha Israel Petroleum Corp Ltd		468
	34,233	*,e	National Energy Services Reunited Corp		229
	685,836		National Oilwell Varco, Inc		14,540
	97,212	*	Natural Gas Services Group, Inc		1,245
	11,809	*,e	NCS Multistage Holdings, Inc		24
	166,071	e	Neste Oil Oyj		5,494
	161,779		New Hope Corp Ltd		241
	142,060		New Zealand Refining Co Ltd		186
	502,000	*,e	Newocean Energy Holdings Ltd		95
	94,641	*	Newpark Resources, Inc		721
	357,649	*,e	NexGen Energy Ltd		464
	11,728	*,e	NextDecade Corp		68
	24,130	*	Nine Energy Service, Inc		149
	468,432	*	Noble Corp plc		595
	243,110		Noble Energy, Inc		5,460
	135,554	e	Nordic American Tanker Shipping		293
	40,555	*	Northern Drilling Ltd		108
	317,137	*,e	Northern Oil And Gas, Inc		622
	100,673		Novatek PJSC (GDR)		20,417
	283,096	*,e	NuVista Energy Ltd		530
	761,249	*	Oasis Petroleum, Inc		2,634
	1,167,378		Occidental Petroleum Corp		51,913
	39,940	e	Ocean Yield ASA		225
	249,021	*	Oceaneering International, Inc		3,374
	56,204	*	Odfjell Drilling Ltd		176
	330,700		Offshore Oil Engineering Co Ltd		250
	2,764,800		Oil & Gas Development Co Ltd		2,179
	94,805		Oil India Ltd		195
	1,194,112		Oil Refineries Ltd		631
	1,212,470		Oil Search Ltd		5,986
	250,300	*	Oil States International, Inc		3,329
	283,577		OMV AG.		15,199
	1,059,339		ONEOK, Inc		78,063
	1,555,999		Origin Energy Ltd		8,381
	63,300	*	Overseas Shipholding Group, Inc		111
	33,640	*,e	Pacific Drilling SA		132
	330,360		Pakistan Oilfields Ltd		804
	93,760		Pakistan State Oil Co Ltd		94
	15,481		Panhandle Oil and Gas, Inc (Class A)		216
	63,350	*	Par Pacific Holdings, Inc		1,448
	77,536	*	Paramount Resources Ltd (Class A)		377
	440,146	*	Parex Resources, Inc		6,744
	27,574	*,e	Parker Drilling Co		522
	304,552	e	Parkland Fuel Corp		9,767
	9,648,808		Parsley Energy, Inc		162,100
	100,942		Pason Systems, Inc		1,231
	27,086		Patterson-UTI Energy, Inc		232
	5,878		Paz Oil Co Ltd		862
	302,489		PBF Energy, Inc		8,225
	93,929	*	PDC Energy, Inc		2,607
	106,040		Peabody Energy Corp		1,561
	4,125,000	*	Pelayaran Tamarin Samudra Tbk PT		133

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	529,340		Pembina Pipeline Income Fund	$	19,622
	1,700	*,e	Pengrowth Energy Trust		0	^
	13,744	*	Penn Virginia Corp		400
	42,100	*	Petro Rio S.A.		177
	177,604		Petrofac Ltd		872
	3,833,805		Petroleo Brasileiro S.A.		27,820
	5,884,519		Petroleo Brasileiro S.A. (Preference)		39,018
	158,859	*,e	Petroleum Geo-Services ASA		215
	1,523,100		Petron		147
	245,059		Petronas Dagangan BHD		1,381
	563,014		Petronet LNG Ltd		2,066
	214,517	e	Peyto Exploration & Development Corp		541
	565,824		Phillips 66		57,940
	774,800		Pilipinas Shell Petroleum Corp		483
	363,070		Pioneer Natural Resources Co		45,663
	2,783,348		Plains All American Pipeline LP		57,754
	1,454,355		Plains GP Holdings LP		30,876
	2,800,113		Polish Oil & Gas Co		3,281
	393,452		Polski Koncern Naftowy Orlen S.A.		9,685
	100,100	*,†	Poseidon Concepts Corp		1
	149,247	e	PrairieSky Royalty Ltd		2,082
	1,206,028	*	Precision Drilling Trust		1,384
	2,869,118	*,e	Premier Oil plc		2,743
	363,800		Prima Marine PCL		99
	530	*	PrimeEnergy Corp		61
	177,708	*	ProPetro Holding Corp		1,615
	23,342,200	*	PT Bumi Resources Tbk		148
	2,820,000	*	PT Delta Dunia Petroindo Tbk		65
	755,200		PT Indika Energy Tbk		70
	2,905,166	*	PT Medco Energi Internasional Tbk		141
	3,355,200		PT Tambang Batubara Bukit Asam Tbk		534
	5,407,706		PT United Tractors Tbk		7,838
	2,305,621		PTT Exploration & Production PCL (Foreign)		9,126
	6,603,500		PTT PCL (ADR)		9,987
	10,744,350		PTT PCL (Foreign)		16,725
	433,630	*	Qatar Fuel QSC		2,798
	5,225,860		Qatar Gas Transport Co Ltd		3,458
	246,923		Questar Market Resources, Inc		914
	191,125	*	Rabigh Refining & Petrochemical Co		1,012
	397,934	e	Range Resources Corp		1,520
	5,318,937		Reliance Industries Ltd		100,148
	190,295	*,e	Renewable Energy Group, Inc		2,855
	1,438,474		Repsol YPF S.A.		22,434
	5,746	*	Rex American Resources Corp		439
	20,076	*	RigNet, Inc		156
	145,777	*	Ring Energy, Inc		239
	36,578	*,e	Roan Resources, Inc		45
	3,814	*,e	Rosehill Resources, Inc		7
	1,661,836	*	Rosneft Oil Co PJSC (GDR)		10,662
	7,983,307		Royal Dutch Shell plc (A Shares)		234,134
	4,781,587		Royal Dutch Shell plc (B Shares)		141,322
	59,568	e	RPC, Inc		334
	1,182,439	*,e	Saipem S.p.A		5,344

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	36,300		San-Ai Oil Co Ltd	$	359
	88,902	*	SandRidge Energy, Inc		418
	3,443,665		Santos Ltd		17,956
	3,362,400		Sapurakencana Petroleum BHD		224
	318,229		Saras S.p.A.		544
	507,295	e	Sasol Ltd		8,532
	221,284		SBM Offshore NV		3,670
	2,977,414		Schlumberger Ltd		101,738
	15,761		Schoeller-Bleckmann Oilfield Equipment AG.		935
	376,745		Scorpio Tankers, Inc		11,212
	65,410	*	SEACOR Holdings, Inc		3,079
	23,713	*	SEACOR Marine Holdings, Inc		298
	65,954	*,e	Seadrill Ltd		139
	26,877	*,e	Seadrill Ltd		56
	206,877		Secure Energy Services, Inc		874
	60,781	*	Select Energy Services, Inc		526
	222,416		SemGroup Corp		3,634
	507,300		Semirara Mining & Power Corp		223
	813,480	*	Senex Energy Ltd		189
	288,000		Serba Dinamik Holdings BHD		292
	204,468	*,e	Serica Energy plc		340
	50	*,†	Serval Integrated Energy Services		0
	390,995	*	Seven Generations Energy Ltd		2,485
	323,455		Shaanxi Coal Industry Co Ltd		396
	245,436		Shanxi Lu’an Environmental Energy Development Co Ltd		249
	299,400		Shanxi Xishan Coal & Electricity Power Co Ltd		247
	91,961		ShawCor Ltd		1,059
	65,000		Shell Refining Co Federation Of Malaya BHD		68
	46,400		Shinko Plantech Co Ltd		476
	82,525	e	Ship Finance International Ltd		1,159
	407,200		Siamgas & Petrochemicals PCL		121
	13,155	*	SilverBow Resources, Inc		127
	4,600		Sinanen Co Ltd		78
	454,000		Sinopec Kantons Holdings Ltd		187
	90,544		SK Energy Co Ltd		12,538
	21,138		SK Gas Co Ltd		1,314
	196,395		SM Energy Co		1,903
	25,102	*,e	Smart Sand, Inc		71
	549,261		Soco International plc		432
	44,569		S-Oil Corp		3,695
	34,643	e	Solaris Oilfield Infrastructure, Inc		465
	1,605,755	*,e	Southwestern Energy Co		3,099
	253,228	*,e	SRC Energy, Inc		1,180
	902,769		Statoil ASA		17,100
	175,430	e	Stobart Group Ltd		273
	136,843		Subsea 7 S.A.		1,408
	2,366,171		Suncor Energy, Inc		74,637
	293,151	e	Surge Energy, Inc		250
	1,249,398		Surgutneftegaz (ADR) (London)		6,684
	377,394	*	Talos Energy, Inc		7,672
	283,111	*	Tamarack Valley Energy Ltd		434
	1,209,345		Targa Resources Investments, Inc		48,579
	340,926		Tatneft PJSC (ADR)		21,768

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,303,150	e	TC Energy Corp	$	67,476
	652		TechnipFMC plc		16
	236,108		TechnipFMC plc (Euro OTC)		5,700
	19,415		Tecnicas Reunidas S.A.		476
	76,335	e	Teekay Corp		305
	179,915		Teekay Tankers Ltd (Class A)		234
	101,291	*,e	Tellurian, Inc		842
	15,456		Tenaris S.A.		164
	88,990	*	Tervita Corp		504
	175,452	*	Tetra Technologies, Inc		353
	172,220		TGS Nopec Geophysical Co ASA		4,359
	1,139,355		Thai Oil PCL (Foreign)		2,599
	38,630	*	Tidewater, Inc		584
	57,203		TMK PJSC (GDR)		193
	197,441		TORC Oil & Gas Ltd		571
	69,647	*	TORM plc		589
	58,057		Total Energy Services, Inc		300
	2,025,682	e	Total S.A.		105,471
	283,405		Tourmaline Oil Corp		2,804
	1,546,008	*	Transocean Ltd (NYSE)		6,911
	67,900	e	Transportadora de Gas del Sur S.A. (ADR) (Class B)		576
	393,847	*,e	Trican Well Service Ltd		300
	2,602,073		Tullow Oil plc		6,820
	493,938		Tupras Turkiye Petrol Rafine		12,552
	623,488		Ultrapar Participacoes S.A.		2,775
	1,416,862	*	UMW Oil & Gas Corp BHD		112
	60,603	*	Unit Corp		205
	208,988	*,e	Uranium Energy Corp		204
	75,741	e	US Silica Holdings, Inc		724
	20,457	*	US Well Services Inc		45
	1,100,246		Valero Energy Corp		93,785
	185,266	*,e	Vallourec SA		490
	55,892		Verbio AG.		515
	110,268	e	Vermilion Energy, Inc		1,837
	615,731	g	Viva Energy Group Ltd		811
	432,332	*	W&T Offshore, Inc		1,889
	185,681		Washington H Soul Pattinson & Co Ltd		2,638
	1,306,910	*,e	Weatherford International Ltd		36
	536,719	e	Whitecap Resources, Inc		1,864
	430,647		Whitehaven Coal Ltd		906
	93,779	*,e	Whiting Petroleum Corp		753
	2,665,720		Williams Cos, Inc		64,137
	586,000		Wison Engineering Services Co Ltd		70
	835,287		Woodside Petroleum Ltd		18,249
	454,795		World Fuel Services Corp		18,165
	298,350		WorleyParsons Ltd		2,617
	2,513,218	*	WPX Energy, Inc		26,615
	6,065,066		Yanzhou Coal Mining Co Ltd		6,159
	202,500		Yanzhou Coal Mining Co Ltd (Class A)		302
	313,300		Yinson Holdings BHD		499
	168,800		YPF S.A. (ADR) (Class D)		1,561
	207,928		Z Energy Ltd		729
			TOTAL ENERGY		5,228,243

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
FOOD & STAPLES RETAILING - 1.5%
	20,757		Abdullah Al Othaim Markets Co	$	457
	525,078		Aeon Co Ltd		9,647
	25,600		Ain Pharmaciez Inc		1,493
	122,834		Al Meera Consumer Goods Co		522
	1,499,698		Alimentation Couche Tard, Inc		45,958
	311,016		Almacenes Exito S.A.		1,609
	32,110		Andersons, Inc		720
	113,444		Arcs Co Ltd		2,385
	944,200		Atacadao Distribuicao Comercio e Industria Ltd		4,784
	106,954	*,g	Avenue Supermarts Ltd		2,811
	73,635		Axfood AB		1,563
	32,500		Axial Retailing, Inc		1,185
	6,400		Belc Co Ltd		314
	1,020,600		Berli Jucker PCL		1,761
	6,186		BGF retail Co Ltd		1,018
	400,794	e	Bid Corp Ltd		8,518
	1,251,732		BIM Birlesik Magazalar AS		10,888
	767,200		Carrefour S.A.		13,420
	123,878		Casey’s General Stores, Inc		19,964
	213,504	e	Casino Guichard Perrachon S.A.		10,190
	74,100		Cawachi Ltd		1,432
	1,435,891		Centros Comerciales Sudamericanos S.A.		2,362
	24,667	*	Chefs’ Warehouse Holdings, Inc		995
	1,272,961		Cia Brasileira de Distribuicao Grupo Pao de Acucar		24,449
	32,240		CJ Freshway Corp		748
	210,718		Clicks Group Ltd		2,991
	45,860		Cocokara Fine Holdings, Inc		2,478
	1,337,518		Coles Group Ltd		13,906
	71,208	e	Colruyt S.A.		3,901
	4,952,100		Cosco Capital, Inc		624
	15,900	e	Cosmos Pharmaceutical Corp		3,115
	1,446,583		Costco Wholesale Corp		416,775
	11,236,729		CP Seven Eleven PCL (Foreign)		29,637
	34,300		Create SD Holdings Co Ltd		803
	3,100		Daikokutenbussaan Co Ltd		98
	293,978		Dairy Farm International Holdings Ltd		1,853
	85,287	*,g	Dino Polska S.A.		3,340
	184,711	g	Dis-Chem Pharmacies Ltd		274
	684,999	e	Distribuidora Internacional de Alimentacion S.A.		397
	13,604		Dongsuh Co, Inc		204
	23,662		E-Mart Co Ltd		2,230
	342,764		Empire Co Ltd		9,280
	242,919		Eurocash S.A.		1,272
	268,292	e	FamilyMart Co Ltd		6,555
	5,000	e	Genky DrugStores Co Ltd		102
	92,161		George Weston Ltd		7,754
	153,000		Grupo Comercial Chedraui S.a. DE C.V.		239
	32,487		GS Retail Co Ltd		1,120
	7,400		Halows Co Ltd		160
	126,400	e	Heiwado Co Ltd		2,380
	8,684	*	HF Foods Group Inc		148

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	22,283		Hyundai Greenfood Co Ltd	$	218
	175,482		ICA Gruppen AB		8,104
	22,393		Ingles Markets, Inc (Class A)		870
	3,400		Itochu-Shokuhin Co Ltd		138
	2,770,756		J Sainsbury plc		7,477
	6,600		Japan Meat Co Ltd		138
	484,271		Jeronimo Martins SGPS S.A.		8,167
	13,900		Kansai Super Market Ltd		138
	57,100		Kato Sangyo Co Ltd		1,782
	60,469		Kesko Oyj (B Shares)		3,819
	38,600		Kobe Bussan Co Ltd		1,876
	1,349,518		Koninklijke Ahold Delhaize NV		33,748
	1,421,580		Kroger Co		36,648
	16,700		Kusuri no Aoki Holdings Co Ltd		1,140
	213,800	*,e	La Comer SAB de C.V.		280
	35,170		Lawson, Inc		1,801
	54,100		Life Corp		1,081
	273,330		Loblaw Cos Ltd		15,568
	432,293		Magnit PJSC (GDR)		5,648
	19,521		MARR S.p.A.		428
	53,174		Massmart Holdings Ltd		154
	111,400	e	Matsumotokiyoshi Holdings Co Ltd		4,088
	1,945,078		Metcash Ltd		3,927
	248,840		Metro Wholesale & Food Specialist AG.		3,926
	293,307		Metro, Inc		12,914
	27,730	*	Migros Ticaret AS		102
	8,300		Ministop Co Ltd		107
	182,865	*	Natural Grocers by Vitamin C		1,827
	5,700		Nihon Chouzai Co Ltd		196
	5,000		Nishimoto Co Ltd		160
	79,872	e	North West Co, Inc		1,706
	16,400		Okuwa Co Ltd		185
	485,980	*	Performance Food Group Co		22,360
	1,250,936		Pick’n Pay Stores Ltd		4,918
	1,019,822		President Chain Store Corp		9,533
	51,351		Pricesmart, Inc		3,651
	32,400		Qol Co Ltd		432
	191,402		Raia Drogasil S.A.		4,414
	8,971		Rami Levi Chain Stores Hashikma Marketing Ltd		508
	44,300	e	Retail Partners Co Ltd		356
	56,532	*,e	Rite Aid Corp		393
	469,600		Robinsons Retail Holdings, Inc		716
	44,079		Ryoshoku Ltd		1,108
	9,700		San-A Co Ltd		429
	862,991		Seven & I Holdings Co Ltd		33,074
	2,050,500		Sheng Siong Group Ltd		1,647
	5,800	e	Shoei Foods Corp		176
	396,410		Shoprite Holdings Ltd		3,210
	102,944		Shufersal Ltd		752
	1,137,602		SMU S.A.		270
	11,500		Sogo Medical Holdings Co Ltd		189
	70,938	*	Sok Marketler Ticaret AS.		138
	3,150,839		Sonae SPGS S.A.		2,934
	175,393		Spar Group Ltd		2,214

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	164,417		Spartan Stores, Inc	$	1,945
	301,000		Springland International Holdings Ltd		60
	519,175	*	Sprouts Farmers Market, Inc		10,041
	89,300		Sugi Pharmacy Co Ltd		4,846
	2,335,027		Sun Art Retail Group Ltd		2,368
	53,179		Sundrug Co Ltd		1,678
	532,094		Sysco Corp		42,248
	375,000		Taiwan TEA Corp		198
	31,724,341		Tesco plc		93,792
	25,767		Tsuruha Holdings, Inc		2,814
	128,808	*	United Natural Foods, Inc		1,484
	32,650	e	United Super Markets Holdings, Inc		291
	802,609	*	US Foods Holding Corp		32,987
	50,600		Valor Co Ltd		854
	8,842		Village Super Market (Class A)		234
	175,159		Walgreens Boots Alliance, Inc		9,688
	8,425,750		Wal-Mart de Mexico SAB de C.V.		24,969
	4,242,402		Walmart, Inc		503,488
	10,136		Weis Markets, Inc		387
	50,225		Welcia Holdings Co Ltd		2,538
	667,183		WM Morrison Supermarkets plc		1,643
	1,414,015		Woolworths Ltd		35,582
	107,726		X5 Retail Group NV (GDR)		3,768
	6,600	*	YAKUODO Holdings Co Ltd		166
	21,000		Yaoko Co Ltd		941
	48,900		Yokohama Reito Co Ltd		470
	475,100		Yonghui Superstores Co Ltd		592
	4,235	*,e	Zur Rose Group AG.		376
			TOTAL FOOD & STAPLES RETAILING		1,713,060
FOOD, BEVERAGE & TOBACCO - 4.2%
	137,954	*,e	22nd Century Group, Inc		312
	649,084	*	a2 Milk Co Ltd		5,393
	150,823		AAK AB		2,923
	54,700	*	Adecoagro S.A.		319
	59,194		AG. Barr plc		421
	9,045	e	Agrana Beteiligungs AG.		167
	363,359		Ajinomoto Co, Inc		6,878
	3,820		Alico, Inc		130
	196,436		Almarai Co JSC		2,607
	3,563,630		Altria Group, Inc		145,752
	5,856,074		AMBEV S.A.		27,131
	230,201		Anadolu Efes Biracilik Ve Malt Sanayii AS		892
	766,895		Anheuser-Busch InBev S.A.		72,993
	135,230		Anhui Kouzi Distillery Co Ltd		1,058
	487,668		Archer Daniels Midland Co		20,029
	10,800		Ariake Japan Co Ltd		845
	902,280	*,e	Aryzta AG.		687
	464,694		Asahi Breweries Ltd		23,078
	690,370		Associated British Foods plc		19,544
	201,984		Astral Foods Ltd		1,961
	1,348,000	e	Ausnutria Dairy Corp Ltd		1,760
	280,434		Austevoll Seafood ASA		2,663

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	219,839	*,e	Australian Agricultural Co Ltd	$	154
	15,662		Avanti Feeds Ltd		81
	170,178		AVI Ltd		924
	111,406	e	B&G Foods, Inc (Class A)		2,107
	23,995		Bakkafrost P		1,418
	147,029	g	Bakkavor Group plc		204
	206,336		Balrampur Chini Mills Ltd		450
	3,753		Barry Callebaut AG.		7,741
	115,353	e	Bega Cheese Ltd		353
	156,300		Beijing Dabeinong Technology Group Co Ltd		100
	1,236		Bell AG.		336
	44,927	*,e	Bellamy’s Australia Ltd		395
	6,093	*,e	Beyond Meat, Inc		906
	2,455		Binggrae Co Ltd		120
	129,500	e	Biostime International Holdings Ltd		547
	8,141		Bonduelle S.C.A.		208
	21,243	*	Boston Beer Co, Inc (Class A)		7,734
	410,800		Boustead Plantations BHD		65
	467,986	*	BRF S.A.		4,303
	1,760	*,e	Bridgford Foods Corp		53
	57,554		Britannia Industries Ltd		2,393
	112,904		British American Tobacco Malaysia BHD		510
	3,201,944		British American Tobacco plc		118,249
	1,389	e	British American Tobacco plc (ADR)		51
	879,135		Britvic plc		10,622
	78,831		Brown-Forman Corp (Class A)		4,710
	144,375		Brown-Forman Corp (Class B)		9,064
	1,045,000	*,g	Budweiser Brewing Co APAC Ltd		3,760
	229,100	e	Bumitama Agri Ltd		96
	613,060		Bunge Ltd		34,711
	584,254		C&C Group plc		2,643
	17,131	e	Calavo Growers, Inc		1,631
	58,404		Calbee, Inc		1,822
	33,270		Cal-Maine Foods, Inc		1,329
	60,100		Camil Alimentos S.A.		97
	587,416		Campbell Soup Co		27,562
	114,500		Carabao Group PCL		306
	205,143		Carlsberg AS (Class B)		30,316
	204,200		Carlsberg Brewery-Malay BHD		1,281
	25,666		CCL Products India Ltd		87
	28,494	*,e	Celsius Holdings, Inc		99
	763,000		Charoen Pokphand Enterprise		1,536
	11,765,126		Charoen Pokphand Foods PCL		10,102
	1,892,000		China Agri-Industries Holdings Ltd		615
	4,375,889	*,†,e	China Huishan Dairy Holdings Co Ltd		6
	370,000	*,†	China Huiyuan Juice Group Ltd		0	^
	2,462,946		China Mengniu Dairy Co Ltd		9,219
	1,177,000	*	China Modern Dairy Holdings		171
	2,211,164		China Resources Beer Holdings Company Ltd		11,715
	45,700		Chubu Shiryo Co Ltd		496
	429,826		Cia Cervecerias Unidas S.A.		4,801
	6,471		CJ CheilJedang Corp		1,267
	117,509		Cloetta AB		337
	549,077		Coca-Cola Amatil Ltd		3,951

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,898		Coca-Cola Bottling Co Consolidated	$	1,792
	11,744,404		Coca-Cola Co		639,366
	763,633		Coca-Cola European Partners plc (Class A)		42,343
	518,427		Coca-Cola Femsa SAB de C.V.		3,155
	361,465		Coca-Cola HBC AG.		11,806
	95,757		Coca-Cola Icecek AS		570
	94,050		Coca-Cola West Japan Co Ltd		2,115
	8,684,000		Cofco International Ltd		3,840
	636,000	*	COFCO Meat Holdings Ltd		192
	1,352,132		ConAgra Brands, Inc		41,483
	284,801		Constellation Brands, Inc (Class A)		59,034
	15,138		Corby Spirit and Wine Ltd		197
	168,497		Costa Group Holdings Ltd		427
	177,459	e	Cott Corp (Toronto)		2,213
	60,461	*	Craft Brewers Alliance, Inc		495
	40,183		Cranswick plc		1,457
	130,954		Daesang Corp		2,435
	1,802,500	g	Dali Foods Group Co Ltd		1,106
	1,028,748		Danone		90,614
	470,394	*	Darling International, Inc		8,999
	3,668,631		Davide Campari-Milano S.p.A		33,139
	98,646	e	Dean Foods Co		114
	3,424,321		Diageo plc		139,884
	519		Dongwon F&B Co Ltd		100
	637		Dongwon Industries Co Ltd		114
	5,100		Dydo Drinco, Inc		208
	782,325		Eastern Tobacco		817
	439,983		Easy Bio, Inc		2,145
	55,993		Ebro Puleva S.A.		1,119
	619,726		Embotelladora Andina S.A.		2,074
	363,901		Embotelladoras Arca SAB de C.V.		1,967
	1,944		Emmi AG.		1,586
	26,000	e	Ezaki Glico Co Ltd		1,082
	9,239	*	Farmer Bros Co		120
	8,784		Farmsco		42
	472,600		Feed One Co Ltd		710
	743,300		Felda Global Ventures Holdings BHD		158
	1,293,823		Fevertree Drinks plc		38,486
	321,100	e	First Resources Ltd		372
	131,489		Flowers Foods, Inc		3,041
	2,202,063		Fomento Economico Mexicano S.A. de C.V.		20,203
	43,042		ForFarmers NV		271
	112,200		Foshan Haitian Flavouring & Food Co Ltd		1,730
	133,400		Fraser & Neave Holdings BHD		1,111
	71,227	e	Freedom Foods Group Ltd		253
	32,246		Fresh Del Monte Produce, Inc		1,100
	250,062	*	Freshpet, Inc		12,446
	27,773		Fuji Oil Co Ltd		808
	13,532		Fujicco Co Ltd		245
	6,200		Fujiya Co Ltd		117
	817,770	*	Future Consumer Ltd		311
	173,378		Futuris Corp Ltd		740
	747,166		General Mills, Inc		41,184

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	79,714		Genting Plantations BHD	$	188
	270,800		GFPT PCL (Foreign)		159
	122,280		Glanbia plc		1,519
	24,850		Godfrey Phillips India Ltd		337
	5,632,734		Golden Agri-Resources Ltd		917
	129,299		GrainCorp Ltd-A		691
	2,585,342		Great Wall Enterprise Co		3,140
	531,760		Greencore Group plc		1,474
	28,217		Grieg Seafood ASA		345
	198,135	e	Gruma SAB de C.V.		2,028
	1,678,416		Grupo Bimbo S.A. de C.V. (Series A)		3,061
	105,195	e	Grupo Herdez SAB de C.V.		223
	65,943	*	Hain Celestial Group, Inc		1,416
	4,511	*	Halwani Brothers Co		40
	134,418		Heineken Holding NV		13,373
	239,796		Heineken NV		25,901
	137,700		Henan Shuanghui Investment & Development Co Ltd		477
	327,327		Hershey Co		50,732
	12,100		Hokuto Corp		222
	184,129	e	Hormel Foods Corp		8,052
	591,835	*	Hostess Brands, Inc		8,277
	79,048	e	Hotel Chocolat Group Ltd		367
	34,352		House Foods Corp		1,290
	1,310,279		Imperial Tobacco Group plc		29,424
	4,722,630		Indofood CBP Sukses Makmur Tbk		4,002
	88,800		Industrias Bachoco SAB de C.V.		391
	1,457,676	e	Inghams Group Ltd		3,101
	153,163		Ingredion, Inc		12,520
	301,200		Inner Mongolia Yili Industrial Group Co Ltd		1,205
	1,562,997		IOI Corp BHD		1,653
	3,538,963		ITC Ltd		12,984
	48,200		Ito En Ltd		2,279
	428,100		Itoham Yonekyu Holdings, Inc		2,694
	15,768		J&J Snack Foods Corp		3,027
	71,618	e	J.M. Smucker Co		7,879
	1,749,401		Japan Tobacco, Inc		38,329
	518,400	e	Japfa Ltd		169
	866,097		JBS S.A.		6,835
	281,934		Jeil Holdings Co Ltd		2,219
	599,200		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		8,741
	15,588		Jinro Ltd		354
	19,378		John B. Sanfilippo & Son, Inc		1,872
	12,700		J-Oil Mills, Inc		483
	225,516		Juhayna Food Industries		121
	43,273		Kagome Co Ltd		1,096
	7,200		Kameda Seika Co Ltd		317
	12,158		Kaveri Seed Co Ltd		85
	365,425		Kellogg Co		23,515
	7,000	e	Kenko Mayonnaise Co Ltd		157
	219,361		Kerry Group plc (Class A)		25,655
	3,487,130	e	Keurig Dr Pepper, Inc		95,268
	10,600		KEY Coffee, Inc		215
	1,018,760		Khon Kaen Sugar Industry PCL		80
	133,667	e	Kikkoman Corp		6,413

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	943,891		Kirin Brewery Co Ltd	$	20,086
	37,200		Kotobuki Spirits Co Ltd		2,447
	1,273,894		Kraft Heinz Co		35,586
	64,066		KRBL Ltd		197
	160,550		KT&G Corp		14,165
	358,152		Kuala Lumpur Kepong BHD		1,975
	80,353		Kweichow Moutai Co Ltd		12,954
	13,849		KWS Saat AG.		910
	5,138	e	La Doria S.p.A		50
	95,582		Lamb Weston Holdings, Inc		6,951
	27,401		Lancaster Colony Corp		3,799
	26,375	*	Landec Corp		287
	4,268		Lassonde Industries, Inc		584
	172,332		Leroy Seafood Group ASA		1,048
	170,878		Libstar Holdings Ltd		90
	411,629		Lien Hwa Industrial Corp		447
	16,645		Limoneira Co		306
	2,751		Lindt & Spruengli AG.		20,318
	87		Lindt & Spruengli AG. (Registered)		7,200
	11,755		Lotte Chilsung Beverage Co Ltd		1,359
	742		Lotte Confectionery Co Ltd		91
	3,186		Lotte Samkang Co Ltd		1,172
	51,200		Luzhou Laojiao Co Ltd		612
	83,080		M Dias Branco S.A.		700
	25,574		Maeil Dairies Co Ltd		1,969
	105,216		Maple Leaf Foods, Inc		2,360
	106,000	*	Marfrig Global Foods S.A.		281
	69,700		Marudai Food Co Ltd		1,479
	74,500		Maruha Nichiro Corp		1,884
	106,700	*	Masan Group Corp		362
	94,670		McCormick & Co, Inc		14,797
	43,400		Megmilk Snow Brand Co Ltd		1,049
	1,654	*	Mehadrin Ltd		66
	106,052		MEIJI Holdings Co Ltd		7,757
	23,102	e	MGP Ingredients, Inc		1,148
	69,400	*	Minerva S.A.		164
	25,000		Mitsui Sugar Co Ltd		517
	121,743		Molson Coors Brewing Co (Class B)		7,000
	6,161,112		Mondelez International, Inc		340,833
	3,500,114	*	Monster Beverage Corp		203,217
	70,960		Morinaga & Co Ltd		3,454
	200,600		Morinaga Milk Industry Co Ltd		7,668
	6,039		Muhak Co Ltd		47
	61,400		Muyuan Foodstuff Co Ltd		606
	6,000	e	Nagatanien Co Ltd		114
	82,000		Namchow Chemical Industrial Ltd		133
	124		Namyang Dairy Products Co Ltd		51
	18,953	*	National Agriculture Development Co		134
	12,399	e	National Beverage Corp		550
	23,530	*	Naturecell Co Ltd		131
	32,882		Nestle India Ltd		6,447
	61,100		Nestle Malaysia BHD		2,125
	4,053,538		Nestle S.A.		439,624

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	74,769	*,e	New Age Beverages Corp	$	206
	176,500		New Hope Liuhe Co Ltd		425
	60,400	e	Nichirei Corp		1,380
	20,400		Nippon Beet Sugar Manufacturing Co Ltd		356
	142,000		Nippon Flour Mills Co Ltd		2,226
	60,912		Nippon Meat Packers, Inc		2,453
	289,766		Nippon Suisan Kaisha Ltd		1,642
	90,200		Nisshin Oillio Group Ltd		2,838
	201,382	e	Nisshin Seifun Group, Inc		3,734
	60,728		Nissin Food Products Co Ltd		4,401
	198,000		Nissin Foods Co Ltd		164
	1,648		Nong Shim Co Ltd		343
	687		Nong Shim Holdings Co Ltd		51
	7,211	e	Norway Royal Salmon ASA		155
	190,037		Oceana Group Ltd		871
	153,176		Origin Enterprises plc		855
	9,765		Orion Corp		130
	27,826		Orion Corp/Republic of Korea		2,286
	13,118		Orior AG.		1,121
	789,259		Orkla ASA		7,182
	1,275		Ottogi Corp		621
	538,180		PAN Fish ASA		12,430
	3,351,665		PepsiCo, Inc		459,513
	175,989		Pernod-Ricard S.A.		31,323
	168		Philip Morris CR		97
	4,316,412		Philip Morris International, Inc		327,745
	57,045	*	Pilgrim’s Pride Corp		1,828
	57,543		Pioneer Foods Ltd		403
	73,647	*,e	Post Holdings, Inc		7,795
	447,829		PPB Group BHD		1,939
	425,260	*	Premier Foods plc		169
	40,774		Premium Brands Holdings Corp		2,866
	202,900		Prima Meat Packers Ltd		4,043
	36,557	*,e	Primo Water Corp		449
	5,001,300	*	PT BW Plantation Tbk		44
	5,470,018		PT Charoen Pokphand Indonesia Tbk		2,062
	1,348,911		PT Gudang Garam Tbk		4,977
	9,233,100		PT Hanjaya Mandala Sampoerna Tbk		1,489
	4,671,191		PT Indofood Sukses Makmur Tbk		2,533
	16,811,300	*	PT Inti Agri Resources Tbk		59
	14,101,900		PT Japfa Comfeed Indonesia Tbk		1,570
	1,628,300		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		148
	1,566,400		PT Sawit Sumbermas Sarana Tbk		103
	5,343,700		PT Tunas Baru Lampung Tbk		350
	6,694		Pulmuone Co Ltd		53
	9,266	*,e	Pyxus International, Inc		121
	60,300		Q.P. Corp		1,412
	432,400		QL Resources BHD		744
	24,849		Radico Khaitan Ltd		111
	20,557	e	Remy Cointreau S.A.		2,729
	69,253		Rhodes Food Group Pty Ltd		71
	5,300		Riken Vitamin Co Ltd		170
	10,900		Rock Field Co Ltd		146

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	126,892	e	Rogers Sugar, Inc	$	516
	7,000		Rokko Butter Co Ltd		112
	20,492		Ros Agro plc (ADR)		221
	142,180		Royal Unibrew A.S.		11,714
	10,100		S Foods, Inc		280
	16,555		Sakata Seed Corp		567
	216,571		Salmar ASA		9,508
	987		Samlip General Foods Co Ltd		80
	1,796		Samyang Corp		74
	1,494		Samyang Foods Co Ltd		98
	9,450		Samyang Holdings Corp		474
	20,938		Sanderson Farms, Inc		3,169
	217,200		Sao Martinho S.A.		991
	34,900		Sapporo Holdings Ltd		873
	234,814		Saputo, Inc		7,217
	16,072		Saudia Dairy & Foodstuff Co		574
	204,838	*	Savola Group		1,685
	123,580		Scandi Standard AB		865
	125,722	g	Scandinavian Tobacco Group A.S.		1,471
	7,394		Schouw & Co		517
	980		Seaboard Corp		4,288
	101,770		Select Harvests Ltd		529
	7,402	*	Seneca Foods Corp		231
	28,937		Shanxi Xinghuacun Fen Wine Factory Co Ltd		313
	57,600		Showa Sangyo Co Ltd		1,635
	1,937,660		Sime Darby Plantation BHD		2,187
	616,499	*	Simply Good Foods Co		17,872
	659,900		SLC Agricola S.A.		2,841
	301,861		Standard Foods Corp		604
	2,800		Starzen Co Ltd		112
	106,018		Stock Spirits Group plc		302
	53,830		Strauss Group Ltd		1,694
	200,882		Suedzucker AG.		3,089
	156,521		Suntory Beverage & Food Ltd		6,701
	248,098		Swedish Match AB		10,261
	44,024	*	Synlait Milk Ltd		251
	87,300		Takara Holdings, Inc		867
	220,900		Taokaenoi Food & Marketing PCL		77
	534,649		Tassal Group Ltd		1,546
	142,084		Tata Tea Ltd		554
	844,455		Tate & Lyle plc		7,640
	2,355,509		Thai Union Group PCL		1,286
	877,100		Thai Vegetable Oil PCL (Foreign)		745
	851,000	*	Tibet 5100 Water Resources Holdings Ltd		153
	130,902		Tiger Brands Ltd		1,820
	1,567,190		Tingyi Cayman Islands Holding Corp		2,206
	52,309	†	Tongaat Hulett Ltd		46
	154,300		Tongwei Co Ltd		275
	18,095	e	Tootsie Roll Industries, Inc		672
	62,907		Toyo Suisan Kaisha Ltd		2,526
	636,560		Treasury Wine Estates Ltd		7,990
	898,690	*	TreeHouse Foods, Inc		49,832
	347,579		Tsingtao Brewery Co Ltd		2,097

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	24,300		Tsingtao Brewery Co Ltd (Class A)	$	165
	97,000		Ttet Union Corp		374
	52,029	e	Turning Point Brands, Inc		1,200
	416,352		Tyson Foods, Inc (Class A)		35,865
	86,482		Ulker Biskuvi Sanayi AS		301
	881,000		Uni-President China Holdings Ltd		951
	7,235,977		Uni-President Enterprises Corp		17,461
	355,834	*	United Spirits Ltd		3,351
	83,715		Universal Corp		4,588
	1,175,144		Universal Robina		3,536
	92,134		Varun Beverages Ltd		812
	118,995	e	Vector Group Ltd		1,417
	1,615		Venky’s India Ltd		37
	52,222	*,e	Village Farms International, Inc		473
	3,863		Vilmorin & Cie		197
	228,735		Vina Concha y Toro S.A.		455
	22,735		Viscofan S.A.		1,065
	934,406	e	Vitasoy International Holdings Ltd		3,788
	3,972,614		Want Want China Holdings Ltd		3,172
	49,300		Warabeya Nichiyo Co Ltd		900
	1,439,000		Wei Chuan Food Corp		1,171
	213,200		Wens Foodstuffs Group Co Ltd		1,111
	9,185,511	g	WH Group Ltd		8,226
	3,545,917		Wilmar International Ltd		9,570
	287,406		Wuliangye Yibin Co Ltd		5,231
	181,012		Yakult Honsha Co Ltd		10,162
	88,404		Yamazaki Baking Co Ltd		1,581
	956,000		Yihai International Holding Ltd		5,683
	284,000	g	Zhou Hei Ya International Holdings Co Ltd		129
			TOTAL FOOD, BEVERAGE & TOBACCO		4,679,498
HEALTH CARE EQUIPMENT & SERVICES - 4.7%
	5,045,512		Abbott Laboratories		422,158
	8,670	*	Abiomed, Inc		1,542
	23,087	*,e	Acadia Healthcare Co, Inc		718
	199,251	*	Accuray, Inc		552
	17,942	*	Addus HomeCare Corp		1,422
	508,226		Advanced Medical Solutions Group plc		1,537
	199,789	*	AGFA-Gevaert NV		819
	216,780		Aier Eye Hospital Group Co Ltd		1,078
	138,000	g	AK Medical Holdings Ltd		131
	27,660	*	Al Hammadi Co for Development and Investment		164
	250,152	*,e	Alcon, Inc		14,581
	879,873	*	Alcon, Inc		51,323
	154,837		Alfresa Holdings Corp		3,469
	7,600,659	*,e	Alibaba Health Information Technology Ltd		6,637
	296,761	*,n	Align Technology, Inc		53,690
	28,000		Alliar Medicos A Frente S.A.		130
	171,131	*,e	Allscripts Healthcare Solutions, Inc		1,879
	44,186	*	Alphatec Holdings Inc		222
	119,025	e	Ambu A.S.		1,969
	104,619	*	Amedisys, Inc		13,706
	17,410	*	American Renal Associates Holdings, Inc		110
	119,983		AmerisourceBergen Corp		9,878

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	87,967	*	AMN Healthcare Services, Inc	$	5,063
	315,724		Amplifon S.p.A.		7,746
	38,460	*	Angiodynamics, Inc		708
	245,906		Ansell Ltd		4,552
	166,410	*,e	Antares Pharma, Inc		557
	318,844		Anthem, Inc		76,554
	90,218		Apollo Hospitals Enterprise Ltd		1,778
	31,762	*,e	Apollo Medical Holdings, Inc		560
	36,622	*,e	Apyx Medical Corp		248
	124,088		Arjo AB		470
	22,535		As One Corp		1,871
	210,712		Asahi Intecc Co Ltd		5,559
	17,924		Ascom Holding AG.		185
	109,252	*	AtriCure, Inc		2,725
	1,495		Atrion Corp		1,165
	61,229	e,g	Attendo AB		267
	893,048		Australian Pharmaceutical Industries Ltd		814
	22,465	*	Avalon GloboCare Corp		42
	48,503	*	Avanos Medical, Inc		1,817
	31,581	*	Avedro Inc		717
	37,946	*	AxoGen, Inc		474
	16,394	*,e	Axonics Modulation Technologies, Inc		441
	571,050		Bangkok Chain Hospital PCL		295
	9,198,645		Bangkok Dusit Medical Services PCL (Foreign)		7,277
	2,726,388		Baxter International, Inc		238,477
	78,368		Becton Dickinson & Co		19,824
	23,322	*,e,g	Biocartis NV		158
	6,839	*,e	BioLife Solutions Inc		114
	21,919		BioMerieux		1,813
	16,643	*,e	BioSig Technologies Inc		137
	35,154	*	BioTelemetry, Inc		1,432
	73,500		BML, Inc		1,984
	6,744		Boditech Med, Inc		49
	4,837,386	*	Boston Scientific Corp		196,833
	696,034	*	Brookdale Senior Living, Inc		5,276
	389,165		Bumrungrad Hospital PCL (Foreign)		1,628
	12,534		Cantel Medical Corp		938
	46,671		Cardinal Health, Inc		2,202
	35,468	*	Cardiovascular Systems, Inc		1,685
	58,652		Carl Zeiss Meditec AG.		6,685
	107,889	*	Castlight Health, Inc		152
	7,317	*,e	Catasys Inc		115
	36,618		Cellavision AB		1,419
	241,771	*	Centene Corp		10,459
	615,284		Cerner Corp		41,944
	142,274	*,e	Cerus Corp		733
	18,817	*	CHA Bio & Diostech Co Ltd		213
	77,439	*	Change Healthcare, Inc		935
	29,466		Chemed Corp		12,304
	387,500		China Resources Phoenix Healthcare Holdings Co Ltd		234
	2,008,900		Chularat Hospital PCL		162
	1,184,654		Cigna Corp		179,819
	512,069	*	Cleopatra Hospital		190

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,240,000	e	C-Mer Eye Care Holdings Ltd	$	811
	141,571		Cochlear Ltd		19,923
	80,521		Coloplast AS		9,688
	1,811		Coltene Holding AG.		148
	40,156		CompuGroup Medical AG.		2,416
	13,407		Computer Programs & Systems, Inc		303
	305,545	*,e	ConforMIS, Inc		568
	51,730		Conmed Corp		4,974
	1,104,053	g	ConvaTec Group plc		2,378
	97,019		Cooper Cos, Inc		28,815
	313,571	*,e	Corindus Vascular Robotics, Inc		1,342
	28,735	*	Corvel Corp		2,175
	9,130	*,e	Covetrus, Inc		109
	54,500	e	Craneware plc		1,699
	40,318	*	Cross Country Healthcare, Inc		415
	80,484	*	CryoLife, Inc		2,185
	32,430	*,e	CryoPort, Inc		530
	29,187	*	Cutera, Inc		853
	98,700		CVS Group plc		1,238
	4,433,308		CVS Health Corp		279,609
	62,600	*	CYBERDYNE, Inc		386
	30,288	*,e	CytoSorbents Corp		152
	13,141		Dallah Healthcare Co		171
	1,659,161		Danaher Corp		239,633
	27,134	*	DaVita, Inc		1,549
	3,289		Dentium Co Ltd		181
	420,130		Dentsply Sirona, Inc		22,397
	562,696	*,n	DexCom, Inc		83,977
	18,090		DiaSorin S.p.A.		2,104
	4,669	*	DIO Corp		156
	62,333	*	Diplomat Pharmacy, Inc		305
	29,539	g	Dr Lal PathLabs Ltd		581
	18,197		Draegerwerk AG.		808
	1,827		Draegerwerk AG. & Co KGaA		64
	27,764		Eckert & Ziegler Strahlen- und Medizintechnik AG.		4,710
	1,425,931	*	Edwards Lifesciences Corp		313,577
	17,800		Eiken Chemical Co Ltd		270
	6,063	e	El.En. S.p.A		158
	84,200	*,e	Elan Corp		1,384
	15,132	*,e	ElectroCore LLC		33
	482,703	e	Elekta AB (B Shares)		6,352
	10,000	*,e	EM Systems Co Ltd		188
	143,113		EMIS Group plc		1,788
	285,972		Encompass Health Corp		18,096
	105,031		Ensign Group, Inc		4,982
	612,107	*	Envista Holdings Corp		17,066
	238,584	*	Enzo Biochem, Inc		859
	113,952		Estia Health Ltd		197
	154,987	*	Evolent Health, Inc		1,114
	154,975	e	Extendicare, Inc		1,001
	186,513		Fagron NV		3,303
	812,263		Fisher & Paykel Healthcare Corp		8,813
	99,800		Fleury S.A.		635
	202,645	*	Fortis Healthcare Ltd		387

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	219,154		Fresenius Medical Care AG.	$	14,727
	385,810		Fresenius SE		18,048
	99,395	g	Galenica AG.		5,709
	4,574,000	g	Genertec Universal Medical Group Company Limited		3,069
	431,763	*,e	Genesis Health Care, Inc		479
	216,431	*	GenMark Diagnostics, Inc		1,312
	254,536		Getinge AB (B Shares)		3,558
	23,000		Ginko International Co Ltd		130
	37,728	*	Glaukos Corp		2,358
	79,643	*	Globus Medical, Inc		4,071
	349,100		GN Store Nord		14,151
	73,100		Green Hospital Supply, Inc		3,117
	491,102	*	Guardant Health, Inc		31,347
	10,498		Guerbet		531
	131,815	*	Haemonetics Corp		16,627
	248,818	*	Hanger Orthopedic Group, Inc		5,071
	1,355,500		Hartalega Holdings BHD		1,699
	955,751		HCA Healthcare, Inc		115,092
	553,851		Healius Ltd		1,204
	8,373	*,e	Health Catalyst, Inc		265
	224,114	*	HealthEquity, Inc		12,807
	103,809		HealthStream, Inc		2,688
	52,103	*,e	Henry Schein, Inc		3,309
	7,349	*,e	Heska Corp		521
	132,939		Hill-Rom Holdings, Inc		13,989
	17,077	*	HLB Life Science CO Ltd		135
	472,608	*	HMS Holdings Corp		16,288
	16,000		Hogy Medical Co Ltd		460
	1,380,311	*	Hologic, Inc		69,692
	253,391		Hoya Corp		20,753
	105,120		Huadong Medicine Co Ltd		386
	83,286		Humana AB		470
	126,056		Humana, Inc		32,229
	2,364		Huons Global Co Ltd		56
	6,044	*	ICU Medical, Inc		965
	117,236	*	IDEXX Laboratories, Inc		31,880
	5,704,642		IHH Healthcare BHD		7,737
	4,865		InBody Co Ltd		92
	18,939	*	Inogen, Inc		907
	155,083	*,e	Inovalon Holdings, Inc		2,542
	13,780	*	Inspire Medical Systems, Inc		841
	25,400		Instituto Hermes Pardini S.A.		146
	128,353	*	Insulet Corp		21,169
	177,887	*	Integer Holding Corp		13,441
	75,622	*	Integra LifeSciences Holdings Corp		4,543
	8,558	*,e	IntriCon Corp		166
	378,011	*	Intuitive Surgical, Inc		204,100
	37,305		Invacare Corp		280
	12,519	*,e	Ion Beam Applications		215
	20,817	*,e	iRadimed Corp		438
	55,798	*,e	iRhythm Technologies, Inc		4,135
	32,400	e	Japan Lifeline Co Ltd		523
	23,400		Jeol Ltd		559

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	83,520	*,e	Joint Corp	$	1,554
	248,300		Jointown Pharmaceutical Group Co Ltd		497
	1,223,645		Koninklijke Philips Electronics NV		56,544
	92,182		Korian-Medica		3,789
	999,400		Kossan Rubber Industries		1,022
	9,132,292		KPJ Healthcare BHD		1,931
	405,919	*	Laboratory Corp of America Holdings		68,194
	196,852	*	Lantheus Holdings, Inc		4,934
	3,133		Le Noble Age		160
	26,137		LeMaitre Vascular, Inc		893
	97,300		Lepu Medical Technology Beijing Co Ltd		342
	31,697	*	LHC Group, Inc		3,600
	1,282,866		Life Healthcare Group Holdings Pte Ltd		1,921
	1,058,000	*	Lifetech Scientific Corp		186
	50,665	*	LivaNova plc		3,739
	43,783	*,e	Livongo Health, Inc		764
	809,520		M3, Inc		19,590
	42,168	*	Magellan Health Services, Inc		2,619
	41,100	e	Mani, Inc		1,086
	49,707	*	Masimo Corp		7,396
	655,006		McKesson Corp		89,513
	1,820	*,e,g	Medartis Holding AG.		82
	14,800	*	Medical Data Vision Co Ltd		152
	39,982	e	Medical Facilities Corp		242
	407,622		Medicare Group		855
	228,051		Mediceo Paltac Holdings Co Ltd		5,091
	233,911		Mediclinic International plc		952
	107,632	*	Medidata Solutions, Inc		9,848
	7,212	*	Medipost Co Ltd		165
	40,102	*	MEDNAX, Inc		907
	1,729,325		Medtronic plc		187,839
	138,048		Meinian Onehealth Healthcare Holdings Co Ltd		235
	14,000		Menicon Co Ltd		493
	96,265		Meridian Bioscience, Inc		914
	54,829	*	Merit Medical Systems, Inc		1,670
	3,894	e	Mesa Laboratories, Inc		926
	98,717		Metlifecare Ltd		276
	1,132,347	e	Microport Scientific Corp		1,026
	16,009	*	Middle East Healthcare Co		111
	31,000	e	Miraca Holdings, Inc		709
	7,548	*,e	Misonix Inc		152
	40,357	*,g	MLP Saglik Hizmetleri AS.		105
	231,011	*	Molina Healthcare, Inc		25,347
	23,272		Mouwasat Medical Services Co		545
	13,636		Nagaileben Co Ltd		290
	36,800		Nakanishi, Inc		582
	568,573	*	Nanosonics Ltd		2,426
	12,815		National Healthcare Corp		1,049
	10,578		National Medical Care Co		153
	18,198		National Research Corp		1,051
	58,966	*	Natus Medical, Inc		1,877
	175,397	*	Neogen Corp		11,946
	1,198,232		Network Healthcare Holdings Ltd		1,387
	1,118		Neuca S.A.		100

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,814	*,e	Neuronetics, Inc	$	131
	119,232	*	Nevro Corp		10,250
	58,080	*	NextGen Healthcare, Inc		910
	126,900		Nichii Gakkan Co		2,083
	46,000		Nihon Kohden Corp		1,356
	253,267		Nikkiso Co Ltd		2,719
	79,232		Nipro Corp		892
	86,849	e	NMC Health plc		2,895
	41,007	e,g	NNIT A.S.		506
	502,600		Notre Dame Intermedica Participacoes S.A.		6,562
	223,496	*	Novocure Ltd		16,713
	156,965	*	NuVasive, Inc		9,948
	141,000		Odontoprev S.A.		548
	865,316		Olympus Corp		11,723
	79,437	*	Omnicell, Inc		5,741
	16,012	*,e	OptimizeRx Corp		232
	214,900	*	Option Care Health, Inc		688
	139,821	*	OraSure Technologies, Inc		1,044
	84,587		Oriola-KD Oyj (B Shares)		192
	25,959	e	Orpea		3,170
	64,423	*	Orthofix International NV		3,416
	22,294	*,e	OrthoPediatrics Corp		786
	5,572	*	Osstem Implant Co Ltd		194
	66,483		Owens & Minor, Inc		386
	12,400		Paramount Bed Holdings Co Ltd		453
	86,811	e	Patterson Cos, Inc		1,547
	12,790	*,e	Penumbra, Inc		1,720
	19,450	*,e	PetIQ, Inc		530
	75,930	e	Phonak Holding AG.		17,667
	10,421	*	Phreesia, Inc		253
	79,000	*,†	Pihsiang Machinery Manufacturing Co Ltd		0	^
	17,991	*	Premier, Inc		520
	141,856		Pro Medicus Ltd		2,666
	81,208	*	Providence Service Corp		4,829
	10,587	*,e	Pulse Biosciences, Inc		163
	601,000		Qualicorp S.A.		4,499
	99,092		Quest Diagnostics, Inc		10,606
	37,302	*	Quidel Corp		2,288
	357,474	*	R1 RCM, Inc		3,192
	117,777	*	RadNet, Inc		1,691
	560,383	e	Raffles Medical Group Ltd		401
	210,322		Ramsay Health Care Ltd		9,214
	15,955	*	RaySearch Laboratories AB		260
	144,198	e	Regis Healthcare Ltd		283
	48,928	e	Resmed, Inc		6,611
	8,824		Rhoen Klinikum AG.		198
	69,040	*,e	Rockwell Medical, Inc		191
	126,091	*	RTI Biologics, Inc		359
	432,946		Ryman Healthcare Ltd		3,598
	31,557		Sartorius AG.		5,753
	17,068		Saudi Chemical Co		118
	31,863	*	SeaSpine Holdings Corp		389
	4,000	e	Seed Co Ltd		33

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	845,962		Selcuk Ecza Deposu Ticaret ve Sanayi AS	$	756
	517,022	*	Select Medical Holdings Corp		8,567
	155,121	*,e	Senseonics Holdings, Inc		153
	5,668,415		Shandong Weigao Group Medical Polymer Co Ltd		5,837
	81,600		Shanghai Pharmaceuticals Holding Co Ltd		208
	744,140		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		1,348
	27,653		Shenzhen Mindray Bio-Medical Electronics Co Ltd		715
	6,776	*,e	Shockwave Medical Inc		203
	49,507	*	SI-BONE, Inc		875
	138,252	g	Siemens Healthineers AG.		5,436
	84,471	e	Sienna Senior Living, Inc		1,215
	153,001	*,e	Sientra, Inc		991
	874,109		Sigma Healthcare Ltd		354
	52,987	*,e	Silk Road Medical Inc		1,724
	12,043		Simulations Plus, Inc		418
	1,069,471		Sinopharm Group Co		3,343
	1,353,418		Smith & Nephew plc		32,593
	1,500		Software Service, Inc		156
	26,700	e	Solasto Corp		302
	156,613	*,e	Soliton Inc		1,674
	969,711		Sonic Healthcare Ltd		18,387
	200,937	g	Spire Healthcare Group plc		276
	29,000		St. Shine Optical Co Ltd		414
	155,604	*,e	Staar Surgical Co		4,011
	181,228		STERIS plc		26,186
	3,013		STRATEC Biomedical AG.		236
	10,167		Straumann Holding AG.		8,316
	576,382		Stryker Corp		124,671
	15,702		Suheung Capsule Co Ltd		421
	157,155		Summerset Group Holdings Ltd		651
	7,444,400		Supermax Corp BHD		2,846
	39,312	*,e	Surgery Partners, Inc		290
	37,519	*	SurModics, Inc		1,716
	78,207		Suzuken Co Ltd		4,210
	155,482		Sysmex Corp		10,446
	20,737	*,e	Tabula Rasa HealthCare, Inc		1,139
	68,716	*,e	Tactile Systems Technology, Inc		2,908
	23,000		TaiDoc Technology Corp		101
	246,220	*	Tandem Diabetes Care, Inc		14,522
	79,221	*,e	Teladoc, Inc		5,365
	9,835		Teleflex, Inc		3,341
	274,785	*	Tenet Healthcare Corp		6,078
	279,542		Terumo Corp		9,046
	234,100		Thonburi Healthcare Group PCL		181
	47,786	*,e	Tivity Health, Inc		795
	262,800	e	Toho Pharmaceutical Co Ltd		6,106
	11,200		Tokai Corp (GIFU)		245
	1,312,000		Top Glove Corp BHD		1,395
	2,414,000	†,e	Town Health International Medical Group Ltd		3
	176,152	*,e	TransEnterix, Inc		109
	6,831	*,e	Transmedics Group, Inc		162
	133,438	*	Triple-S Management Corp (Class B)		1,788
	24,400		Tsuki Corp		97

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	223,811		United Drug plc	$	2,064
	2,832,233		UnitedHealth Group, Inc		615,501
	23,671		Universal Health Services, Inc (Class B)		3,521
	13,423		US Physical Therapy, Inc		1,752
	3,831		Utah Medical Products, Inc		367
	4,119		Value Added Technologies Co Ltd		91
	50,988	*	Vapotherm, Inc		483
	159,625	*	Varex Imaging Corp		4,556
	31,069	*	Varian Medical Systems, Inc		3,700
	371,535	*	Veeva Systems, Inc		56,730
	3,235		Vieworks Co Ltd		67
	89,010	*,e	ViewRay, Inc		258
	43,857		Virtus Health Ltd		132
	23,200	e	VITAL KSK Holdings, Inc		225
	31,621	*,e	Vocera Communications, Inc		779
	14,469	*	WellCare Health Plans, Inc		3,750
	200,950		West Pharmaceutical Services, Inc		28,499
	33,463	*,e	William Demant Holding A.S.		857
	140,230	*	Wright Medical Group NV		2,893
	114,972	*	Xvivo Perfusion AB		2,021
	2,665		Ypsomed Holding AG.		344
	2,314,950		Zimmer Biomet Holdings, Inc		317,773
	15,924	e	Zynex Inc		151
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		5,308,831
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	3,167		Aekyung Industrial Co Ltd		79
	29,962		Amorepacific Corp		3,515
	10,268		Amorepacific Corp (Preference)		629
	1,351	*	Avon Products, Inc		6
	44,237		Bajaj Corp Ltd		154
	88,676		Beiersdorf AG.		10,455
	5,499,000	†,e	Best World International Ltd		5,411
	7,530	e	Blackmores Ltd		436
	61,828	e	BWX Ltd		162
	23,024	*,e	Central Garden & Pet Co		673
	94,244	*	Central Garden and Pet Co (Class A)		2,613
	22,000		Chlitina Holding Ltd		150
	160,190		Church & Dwight Co, Inc		12,053
	81,754		Clorox Co		12,416
	2,082,471		Colgate-Palmolive Co		153,082
	3,674		Cosmax, Inc		225
	266,679		Coty, Inc		2,803
	654,282		Dabur India Ltd		4,132
	35,200		Earth Chemical Co Ltd		1,810
	55,836	*	Edgewell Personal Care Co		1,814
	975,478		EIS Eczacibasi Ilac ve Sinai ve Finansal Yatirimlar Sanayi ve Ticaret AS		538
	614,942	*,e	elf Beauty, Inc		10,768
	916,571	e	Energizer Holdings, Inc		39,944
	466,479		Essity AB		13,611
	700,390		Estee Lauder Cos (Class A)		139,343
	42,700	*,e	Euglena Co Ltd		359

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,900	e	Fancl Corp	$	1,680
	7,952		Gillette India Ltd		797
	468,786		Godrej Consumer Products Ltd		4,548
	54,000		Grape King Industrial Co		322
	598,447		Hengan International Group Co Ltd		3,921
	101,778		Henkel KGaA		9,317
	150,385		Henkel KGaA (Preference)		14,880
	94,480	*	Herbalife Ltd		3,577
	796,553		Hindustan Lever Ltd		22,288
	13,988		Inter Parfums S.A.		599
	61,316		Inter Parfums, Inc		4,290
	2,124		It’s Skin Co Ltd		33
	50,017		Jamieson Wellness, Inc		879
	5,120	*	Jayjun Cosmetic Co Ltd		17
	88,125		Jyothy Laboratories Ltd		210
	541,678		Kao Corp		40,180
	436,917		Kimberly-Clark Corp		62,064
	2,171,716		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		4,361
	36,600		Kitanotatsujin Corp		239
	83,256		Kobayashi Pharmaceutical Co Ltd		6,358
	3,552		Kolmar BNH Co Ltd		78
	6,578		Korea Kolmar Co Ltd		232
	4,435		Korea Kolmar Holdings Co Ltd		77
	39,039	e	Kose Corp		6,628
	10,525		LG Household & Health Care Ltd		11,487
	2,144		LG Household & Health Care Ltd (Preference)		1,381
	29,380	*	Lifevantage Corp		403
	249,501		Lion Corp		4,936
	395,603		L’Oreal S.A.		110,638
	21,558		Mandom Corp		537
	760,182		Marico Ltd		4,230
	11,693		Medifast, Inc		1,212
	13,500		Milbon Co Ltd		668
	2,600	*,e	MTG Co Ltd		25
	410,996		Natura Cosmeticos S.A.		3,349
	12,693	*	Nature’s Sunshine Products, Inc		105
	9,600		Noevir Holdings Co Ltd		503
	63,020		Nu Skin Enterprises, Inc (Class A)		2,680
	5,605		NUTRIBIOTECH Co Ltd		33
	1,456,000		NVC Lighting Holdings Ltd		191
	5,449		Oil-Dri Corp of America		186
	41,902	e	Ontex Group NV		754
	24,449		Pacific Corp		1,336
	103,759		Pigeon Corp		4,296
	122,171		Pola Orbis Holdings, Inc		2,754
	6,775,722		Procter & Gamble Co		842,764
	6,186,000		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		536
	3,346,829		PT Unilever Indonesia Tbk		10,959
	137,652		PZ Cussons plc		343
	1,183,947		Reckitt Benckiser Group plc		92,442
	19,228	*,e	Revlon, Inc (Class A)		452
	54,600	e	Rohto Pharmaceutical Co Ltd		1,499
	69,170		Sarantis S.A.		611
	418,273		Shiseido Co Ltd		33,570

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,367	h	Spectrum Brands Holdings, Inc	$	1,390
	33,000		ST Corp		484
	55,128		TCI Co Ltd		555
	397,181		Uni-Charm Corp		12,624
	1,919,554		Unilever NV		115,264
	1,426,752		Unilever plc		85,751
	13,392	*	USANA Health Sciences, Inc		916
	169,000		Vinda International Holdings Ltd		305
	14,441		WD-40 Co		2,650
	17,300	e	YA-MAN Ltd		114
	8,353	*,e	Youngevity International Inc		37
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,959,726
INSURANCE - 4.1%
	280,938		Admiral Group plc		7,306
	2,166,090		Aegon NV		8,996
	1,275,095		Aflac, Inc		66,713
	190,158		Ageas		10,541
	13,266,218		AIA Group Ltd		125,114
	8,774	*	Al Rajhi Co for Co-operative Insurance		158
	33,602	*	Alleghany Corp		26,806
	534,868		Allianz AG.		124,502
	797,055		Allstate Corp		86,624
	117,468		Alm Brand AS		923
	46,870	*	AMBAC Financial Group, Inc		916
	255,855		American Equity Investment Life Holding Co		6,192
	282,305		American Financial Group, Inc		30,447
	3,924,989		American International Group, Inc		218,622
	40,032		American National Insurance Co		4,953
	31,708		Amerisafe, Inc		2,096
	10,900		Anicom Holdings, Inc		414
	381,479		Aon plc		73,843
	1,006,554	*	Arch Capital Group Ltd		42,255
	197,925		Argo Group International Holdings Ltd		13,902
	297,353	e	Arthur J. Gallagher & Co		26,634
	208,844		ASR Nederland NV		7,706
	1,462,552		Assicurazioni Generali S.p.A.		28,344
	165,473		Assurant, Inc		20,820
	243,876		Assured Guaranty Ltd		10,843
	984,089	*	Athene Holding Ltd		41,391
	3,715,622		Aviva plc		18,241
	1,885,968		AXA S.A.		48,156
	464,441		Axis Capital Holdings Ltd		30,988
	53,574		Bajaj Finserv Ltd		6,443
	66,878		Baloise Holding AG.		11,983
	281,100		Bangkok Life Assurance PCL		187
	634,874		BB Seguridade Participacoes S.A.		5,353
	514,156		Beazley plc		3,929
	4,315,810	*	Berkshire Hathaway, Inc (Class B)		897,775
	234,931	*	Brighthouse Financial, Inc		9,508
	636,748		Brown & Brown, Inc		22,961
	27,008		Bupa Arabia for Cooperative Insurance Co		767
	6,364,816		Cathay Financial Holding Co Ltd		8,389

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,134,577		China Development Financial Holding Corp	$	3,316
	1,302,894		China Insurance International Holdings Co Ltd		2,908
	12,421,890		China Life Insurance Co Ltd		28,624
	130,400		China Life Insurance Co Ltd (Class A)		503
	3,090,253	*	China Life Insurance Co Ltd (Taiwan)		2,450
	288,100		China Pacific Insurance Group Co Ltd		1,409
	2,113,939		China Pacific Insurance Group Co Ltd (Hong Kong)		7,757
	6,492,000		China Reinsurance Group Corp		1,052
	1,263,024		Chubb Ltd		203,903
	478,889		Cincinnati Financial Corp		55,872
	55,165	*,e	Citizens, Inc (Class A)		379
	101,250	*	Clal Insurance		1,534
	95,114		CNA Financial Corp		4,684
	449,751		CNP Assurances		8,691
	63,985	*	Co for Cooperative Insurance		1,157
	164,474		Conseco, Inc		2,604
	3,630,000	*,†,e	Convoy Financial Holdings Ltd		5
	983,725		Corp Mapfre S.A.		2,649
	16,983	e	Crawford & Co		185
	1,197,647		Dai-ichi Mutual Life Insurance Co		18,208
	1,348,251		Direct Line Insurance Group plc		4,974
	644,770		Discovery Holdings Ltd		4,861
	24,747		Donegal Group, Inc (Class A)		363
	49,172		Dongbu Insurance Co Ltd		2,118
	23,628	*	eHealth, Inc		1,578
	215,862		Employers Holdings, Inc		9,407
	12,086	*	Enstar Group Ltd		2,295
	61,210		Erie Indemnity Co (Class A)		11,364
	132,026		Everest Re Group Ltd		35,131
	27,709		Fairfax Financial Holdings Ltd		12,214
	24,800	e	Fanhua, Inc (ADR)		660
	9,462		FBL Financial Group, Inc (Class A)		563
	9,229		FedNat Holding Co		129
	373,111		First American Financial Corp		22,017
	489,559		FNF Group		21,741
	2,608	e	Fondiaria-Sai S.p.A		7
	6,197,461		Fubon Financial Holding Co Ltd		8,898
	1,338,025	*	Genworth Financial, Inc (Class A)		5,887
	267,742		Gjensidige Forsikring BA		5,310
	9,793		Global Indemnity Ltd		245
	201,242		Globe Life, Inc		19,271
	12,865	e	Goosehead Insurance, Inc		635
	301,779		Great-West Lifeco, Inc		7,246
	34,529	*,e	Greenlight Capital Re Ltd (Class A)		363
	76,004		Grupo Catalana Occidente S.A.		2,415
	78,463	*	Hallmark Financial Services		1,501
	80,325		Hannover Rueckversicherung AG.		13,576
	103,243		Hanover Insurance Group, Inc		13,994
	26,301		Hanwha Non-Life Insurance Co Ltd		66
	413,625		Harel Insurance Investments & Finances Ltd		3,610
	1,718,947		Hartford Financial Services Group, Inc		104,185
	590,000	g	Hastings Group Holdings Ltd		1,494
	6,728		HCI Group, Inc		283
	661,680	g	HDFC Life Insurance Co Ltd		5,617

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,207	*,e	Health Insurance Innovations, Inc	$	304
	35,830		Helvetia Holding AG.		4,945
	206,329		Heritage Insurance Holdings, Inc		3,085
	170,890		Hiscox Ltd		3,487
	90,416		Horace Mann Educators Corp		4,189
	11,900		Hubei Biocause Pharmaceutical Co Ltd		12
	52,645		Hyundai Marine & Fire Insurance Co Ltd		1,161
	159,495		iA Financial Corp, Inc		7,258
	117,358	g	ICICI Lombard General Insurance Co Ltd		2,004
	4,383		IDI Insurance Co Ltd		169
	4,522		Independence Holding Co		175
	148,358	g	ING Life Insurance Korea Ltd		3,352
	2,414,710		Insurance Australia Group Ltd		12,885
	210,857		Intact Financial Corp		21,222
	1,156		Investors Title Co		185
	1,033,800		IRB Brasil Resseguros S		9,370
	70,039		James River Group Holdings Ltd		3,589
	1,502,795		Japan Post Holdings Co Ltd		13,867
	1,800		Japan Post Insurance Co Ltd		27
	580,376		Just Retirement Group plc		378
	353,888		Kemper Corp		27,586
	69,515		Kinsale Capital Group, Inc		7,182
	1,762,013		Korea Life Insurance Co Ltd		3,505
	57,434		Korean Reinsurance Co		385
	186,266		Lancashire Holdings Ltd		1,695
	7,028,777		Legal & General Group plc		21,454
	71,956		Liberty Holdings Ltd		534
	724,465		Lincoln National Corp		43,700
	533,938		Loews Corp		27,487
	30,193		Lotte Non-Life Insurance Co Ltd		53
	324,688		Manulife Financial Corp		5,961
	2,551,043		Manulife Financial Corp (Toronto)		46,790
	22,585	*	Markel Corp		26,693
	1,119,441		Marsh & McLennan Cos, Inc		112,000
	156,026	*	Max India Ltd		941
	107,271	*	MBIA, Inc		990
	2,769,301		Medibank Pvt Ltd		6,360
	43,456		Menorah Mivtachim Holdings Ltd		657
	1,076,999		Mercuries & Associates Holding Ltd		656
	578,058	*	Mercuries Life Insurance Co Lt		198
	238,203		Mercury General Corp		13,311
	42,981		Meritz Fire & Marine Insurance Co Ltd		686
	2,517,090		Metlife, Inc		118,706
	1,002,358		Migdal Insurance Holdings Ltd		1,069
	233,273		Mirae Asset Life Insurance Co Ltd		843
	290,069		Mitsui Sumitomo Insurance Group Holdings, Inc		9,428
	2,229,809	e	Momentum Metropolitan Holdings		2,746
	125,349		Muenchener Rueckver AG.		32,377
	181,472		National General Holdings Corp		4,177
	2,282		National Western Life Group, Inc		612
	105,400		New China Life Insurance Co Ltd		720
	624,182		New China Life insurance Co Ltd (Hong Kong)		2,467
	12,586	*	NI Holdings, Inc		216

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	262,742		nib holdings Ltd	$	1,296
	209,494		NKSJ Holdings, Inc		8,798
	475,994		NN Group NV		16,869
	4,044,043	e	Old Mutual Ltd		5,161
	541,651		Old Republic International Corp		12,767
	153,063	*,e	Palomar Holdings, Inc		6,034
	25,201,288		People’s Insurance Co Group of China Ltd		10,090
	310,751		Phoenix Group Holdings plc		2,641
	400,935		Phoenix Holdings Ltd		2,548
	6,951,239		PICC Property & Casualty Co Ltd		8,111
	10,485,076		Ping An Insurance Group Co of China Ltd		120,512
	1,193,693		Ping An Insurance Group Co of China Ltd (Class A)		14,574
	123,674		Porto Seguro S.A.		1,753
	778,273	g	Poste Italiane S.p.A		8,847
	608,563		Power Corp Of Canada		14,019
	564,747		Power Financial Corp		13,095
	705,120		Powszechny Zaklad Ubezpieczen S.A.		6,577
	79,934		Primerica, Inc		10,170
	552,536		Principal Financial Group		31,572
	129,062		ProAssurance Corp		5,197
	1,306,997		Progressive Corp		100,966
	24,179	*	ProSight Global, Inc		468
	10,136		Protective Insurance Corp		177
	180,438	*,e	Protector Forsikring ASA		893
	1,019,210	e	Prudential Financial, Inc		91,678
	3,615,568		Prudential plc		65,518
	13,946,300	*	PT Panin Life Tbk		304
	1,091,250	*	Qatar Insurance Co SAQ		1,004
	1,601,890		QBE Insurance Group Ltd		13,588
	502,500		Qualitas Controladora SAB de C.V.		1,805
	567,633		Rand Merchant Investment Holdings Ltd		1,122
	172,775		Reinsurance Group of America, Inc (Class A)		27,623
	102,238		RenaissanceRe Holdings Ltd		19,778
	41,798		RLI Corp		3,883
	1,005,429		RSA Insurance Group plc		6,597
	157,722	g	Sabre Insurance Group plc		572
	15,303		Safety Insurance Group, Inc		1,551
	1,376,133		Saga plc		854
	596,140		Sampo Oyj (A Shares)		23,686
	31,980		Samsung Fire & Marine Insurance Co Ltd		5,959
	67,030		Samsung Life Insurance Co Ltd		3,983
	1,906,237		Sanlam Ltd		9,389
	87,265		SCOR SE		3,603
	143,300		Selective Insurance Group, Inc		10,775
	32,400,765		Shin Kong Financial Holding Co Ltd		9,804
	543,000		Shinkong Insurance Co Ltd		654
	167,610		Societa Cattolica di Assicurazioni SCRL		1,426
	967,852		Sony Financial Holdings, Inc		21,074
	18,141		State Auto Financial Corp		588
	2,468,914		Steadfast Group Ltd		5,920
	53,109		Stewart Information Services Corp		2,060
	270,162		Storebrand ASA		1,708
	176,694		Sul America SA		2,029
	687,026		Sun Life Financial, Inc		30,720

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,214		Swiss Life Holding	$	24,007
	184,801		Swiss Re Ltd		19,283
	936,226		T&D Holdings, Inc		10,004
	456,562	*	Third Point Reinsurance Ltd		4,561
	87,489		TI Financial Holdings Ltd		605
	29,716		Tiptree Financial, Inc		216
	1,881,003		Tokio Marine Holdings, Inc		100,910
	20,808		Tong Yang Life Insurance		66
	184,676		Topdanmark AS		8,915
	478,024		Travelers Cos, Inc		71,077
	29,085	*,e	Trupanion, Inc		739
	150,910		Tryg A.S.		4,324
	3,358,654		Unipol Gruppo Finanziario S.p.A		17,884
	289,058		Uniqa Versicherungen AG.		2,611
	22,138		United Fire & Casualty Co		1,040
	53,158		United Insurance Holdings Corp		744
	148,925		Universal Insurance Holdings, Inc		4,466
	753,688		UnumProvident Corp		22,400
	285,135		W.R. Berkley Corp		20,595
	54,919	*,e	Watford Holdings Ltd		1,480
	8,933		White Mountains Insurance Group Ltd		9,648
	143,862		Wiener Staedtische Allgemeine Versicherung AG.		3,748
	313,051		Willis Towers Watson plc		60,409
	35,200		Wiz Solucoes e Corretagem de Seguros S.A.		94
	23,712		Wuestenrot & Wuerttembergische AG.		465
	359,600	*,e,g	ZhongAn Online P&C Insurance Co Ltd		849
	248,694		Zurich Financial Services AG.		95,252
			TOTAL INSURANCE		4,596,280
MATERIALS - 4.5%
	34,242		Aarti Industries		387
	34,242	*	Aarti Industries Ltd		387
	197,096		Acerinox S.A.		1,688
	7,499		Achilles Corp		117
	62,900		ADEKA Corp		785
	225,998		Adelaide Brighton Ltd		466
	15,911	e	Advanced Emissions Solutions, Inc		236
	102,636	e	Advanced Metallurgical Group NV		2,468
	90,480		Advanced Petrochemical Co		1,171
	80,454		Advansa Sasa Polyester Sanayi AS		91
	60,367	*	AdvanSix, Inc		1,553
	116,258		Aeci Ltd		737
	668,787	e	African Rainbow Minerals Ltd		6,220
	244,397		Agnico-Eagle Mines Ltd		13,097
	8,200		Aichi Steel Corp		234
	232,331		Air Liquide		33,065
	403,980		Air Products & Chemicals, Inc		89,627
	90,070		Air Water, Inc		1,620
	2,232		AK Holdings, Inc		59
	326,851	*,e	AK Steel Holding Corp		742
	4,990		Akzo Nobel India Ltd		135
	259,284		Akzo Nobel NV		23,103
	502,669		Alamos Gold, Inc		2,921

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	77,124	e	Albemarle Corp	$	5,362
	489,341	*	Alcoa Corp		9,821
	1,781,913		Alexandria Mineral Oils Co		462
	130,571	*	Allegheny Technologies, Inc		2,644
	52,602		Altius Minerals Corp		438
	506,343		Altri SGPS S.A.		3,361
	15,922	*	Alujain Corp		81
	2,279,918		Alumina Ltd		3,653
	3,669,445	*	Aluminum Corp of China Ltd		1,156
	394,600	*	Aluminum Corp of China Ltd (Class A)		195
	506,669		Ambuja Cements Ltd		1,460
	3,741		Amcor Ltd		36
	6,609	*	Amcor plc		64
	70,686		American Vanguard Corp		1,110
	86,347	*,e	Amyris, Inc		411
	135,596		Anadolu Cam Sanayii AS		75
	384,247	*	Anatolia Minerals Development Ltd		1,552
	1,869,800	e	Angang New Steel Co Ltd		683
	320,840		Angang Steel Co Ltd		139
	218,712		Anglo American Platinum Ltd		13,185
	1,492,468		Anglo American plc (London)		34,300
	378,883		AngloGold Ashanti Ltd		7,006
	2,747,869		Anhui Conch Cement Co Ltd		16,307
	212,300		Anhui Conch Cement Co Ltd (Class A)		1,231
	374,853		Antofagasta plc		4,138
	158,711		APERAM		3,858
	3,225		APL Apollo Tubes Ltd		62
	42,746		Aptargroup, Inc		5,063
	70,642		Arabian Cement Co		640
	851,650		ArcelorMittal		11,981
	33,581		Ardagh Group S.A.		527
	140,592		Arkema		13,107
	3,424	*,†	Arti Surfactants Ltd		10
	35,774		Asahi Holdings, Inc		738
	1,215,677		Asahi Kasei Corp		12,060
	214,213		Ashland Global Holdings, Inc		16,505
	2,642,500		Asia Cement China Holdings Corp		3,183
	4,741		Asia Cement Co Ltd		368
	7,842,024		Asia Cement Corp		10,945
	451,455		Asian Paints Ltd		11,235
	225,800		ATA IMS Bhd		72
	16,854		Atul Ltd		951
	19,348		Aurubis AG.		862
	2,009,918		Ausdrill Ltd		3,029
	64,305		Avery Dennison Corp		7,303
	2,022,648	*	Axalta Coating Systems Ltd		60,983
	1,306,534	*	B2Gold Corp		4,250
	33,398		Balchem Corp		3,313
	488,863		Ball Corp		35,594
	784,300		Baoshan Iron & Steel Co Ltd		650
	8,847		Barrick Gold Corp		160
	2,136,624		Barrick Gold Corp (Canada)		36,964
	4,714		BASF India Ltd		67
	1,319,268		BASF SE		92,241

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,885		Bayer CropScience Ltd	$	184
	27,900		BBMG Corp		13
	7,387,000		BBMG Corp (Class H)		2,119
	21,216		Bekaert S.A.		608
	4,781,952	*	Berry Global Group, Inc		187,787
	4,294,115		BHP Billiton Ltd		106,110
	2,712,829		BHP Group plc		57,944
	105,622	e	Billerud AB		1,142
	4,700	*,e	Bio On Spa		98
	8,699		Birla Corp Ltd		69
	525,197		BlueScope Steel Ltd		4,266
	135,810		Boise Cascade Co		4,426
	477,821		Boliden AB		10,974
	1,035,235		Boral Ltd		3,379
	71,715		Borregaard ASA		765
	108,300		Bradespar S.A.		823
	184,675	*	Braskem S.A.		1,445
	174,489		Brickworks Ltd		2,080
	114,298		Buzzi Unicem S.p.A.		2,621
	54,665		Buzzi Unicem S.p.A. RSP		791
	32,749		Cabot Corp		1,484
	272,300		Cahya Mata Sarawak BHD		176
	79,019	*	Canfor Corp		926
	37,263		Canfor Pulp Products, Inc		273
	77,186		CAP S.A.		672
	202,275		Carpenter Technology Corp		10,450
	136,406		Cascades, Inc		1,192
	139,970		CCL Industries		5,646
	60,232		Celanese Corp (Series A)		7,366
	177,203	e	Cementir S.p.A.		1,188
	430,767		Cementos Argos S.A.		921
	89,427	*	Cemex Latam Holdings S.A.		111
	22,695,178	e	Cemex S.A. de C.V.		8,844
	2,419,500	e	Cemex SAB de C.V. (ADR)		9,484
	1,342,303		Centamin plc		2,078
	285,877	*	Centerra Gold, Inc		2,430
	120,938		Central Asia Metals plc		309
	57,156	*	Century Aluminum Co		379
	57,000		Century Iron & Steel Industrial Co Ltd		136
	33,121		Century Plyboards India Ltd		74
	11,585		Century Textile & Industries Ltd		148
	1,234,649		CF Industries Holdings, Inc		60,745
	192,874		Chambal Fertilizers & Chemicals Ltd		419
	7,765		Chase Corp		849
	85,401	e	Chemours Co		1,276
	4,681,560		Cheng Loong Corp		2,691
	794,695		China BlueChemical Ltd		192
	169,550		China General Plastics Corp		109
	42,600		China Hi-ment Corp		70
	4,468,500		China Hongqiao Group Ltd		2,853
	540,232		China Manmade Fibers Corp		142
	136,112		China Metal Products		134
	858,455	*,†,e	China Metal Recycling Holdings Ltd		1

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	476,000	*,e,g	China Metal Resources Utilization Ltd	$	202
	18,513,800	e	China Molybdenum Co Ltd		6,145
	880,300		China Molybdenum Co Ltd (Class A)		449
	10,223,282		China National Building Material Co Ltd		9,170
	132,300		China Northern Rare Earth Group High-Tech Co Ltd		201
	4,326,000		China Oriental Group Co Ltd		1,496
	1,323,359		China Petrochemical Development Corp		426
	6,757,199		China Resources Cement Holdings Ltd		6,777
	2,114,000		China Sanjiang Fine Chemicals		354
	91,000		China Steel Chemical Corp		368
	10,996,303		China Steel Corp		8,151
	372,783		China Synthetic Rubber Corp		391
	212,000		China XLX Fertiliser Ltd		53
	1,103,600		China Zhongwang Holdings Ltd		449
	80,719		Christian Hansen Holding		6,838
	32,000		Chugoku Marine Paints Ltd		263
	1,951	*	Chunbo Co Ltd		107
	433,000		Chung Hung Steel Corp		136
	220,540		Chung Hwa Pulp Corp		65
	209,471		Cia de Minas Buenaventura S.A. (ADR) (Series B)		3,180
	2,650,548		Cia Siderurgica Nacional S.A.		8,440
	77,980		Ciech S.A.		656
	161,255		City Cement Co		649
	6,518		Clariant AG.		127
	17,422	*	Clearwater Paper Corp		368
	283,752	e	Cleveland-Cliffs, Inc		2,049
	223,455	*	Coeur Mining, Inc		1,075
	707,456		Commercial Metals Co		12,296
	86,132	*,†	Companhia Vale do Rio Doce		0
	36,415		Compass Minerals International, Inc		2,057
	130,114	*	Constellium NV		1,654
	194,869	*	Continental Gold, Inc		541
	45,208		Corbion NV		1,313
	72,897		Coromandel International Ltd		427
	1,323,062	g	Coronado Global Resources, Inc (ADR)		2,066
	6,124,248		Corteva, Inc		171,479
	23,201		Corticeira Amorim SGPS S.A.		252
	738,733	g	Covestro AG.		36,554
	294,000	e	CPMC Holdings Ltd		118
	2,863,292		CRH plc		98,280
	17,081		Croda International plc		1,020
	1,013,573	*	Crown Holdings, Inc		66,957
	280,857		CSR Ltd		810
	1,354,900		D&L Industries Inc		233
	106,803		Daicel Chemical Industries Ltd		909
	140,700	e	Daido Steel Co Ltd		5,558
	5,700		Daiken Corp		99
	10,671		Dainichiseika Color & Chemicals Manufacturing Co Ltd		315
	43,900		Dainippon Ink and Chemicals, Inc		1,226
	183,572	e	Daio Paper Corp		2,344
	18,300		Daiso Co Ltd		471
	46,000		Denki Kagaku Kogyo KK		1,274
	228,943	*	Detour Gold Corp		3,361

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,238,600		DG Khan Cement Co Ltd	$	692
	128,989		Domtar Corp		4,619
	72,991		Dongjin Semichem Co Ltd		1,020
	30,171		Dongkuk Steel Mill Co Ltd		164
	2,473		Dongwon Systems Corp		81
	545,000		Dongyue Group		255
	1,057,972		Dow, Inc		50,412
	28,200		Dowa Holdings Co Ltd		968
	896,911		DS Smith plc		3,972
	185,516		DSM NV		22,333
	5,166	*	Duk San Neolux Co Ltd		95
	190,098	*	Dundee Precious Metals, Inc		640
	1,973,677		DuPont de Nemours, Inc		140,743
	11,520		Eagle Materials, Inc		1,037
	528,300		Eastern Polymer Group PCL		122
	40,595		Eastern Province Cement Co		366
	64,751		Eastman Chemical Co		4,781
	558,782		Ecolab, Inc		110,661
	9,022	*	Ecopro Co Ltd		143
	75,111		EID Parry India Ltd		175
	84,636	*	El Ezz Steel Co		49
	208,006	*	Eldorado Gold Corp		1,611
	98,702	*	Element Solutions, Inc		1,005
	357,581		Elementis plc		651
	470,244	g	Elkem ASA		1,146
	3,068,031		Empresas CMPC S.A.		7,135
	4,979		EMS-Chemie Holding AG.		3,102
	94,527	e	Ence Energia y Celulosa S.A.		360
	100,153	*	Endeavour Mining Corp		1,914
	163,911	*,e	Endeavour Silver Corp		366
	161,090		Engro Chemical Pakistan Ltd		275
	2,576,500		Engro Fertilizers Ltd		1,125
	5,393	e	Eramet		267
	490,589		Ercros S.A.		1,100
	4,201,318		Eregli Demir ve Celik Fabrikalari TAS		5,088
	84,798	*	ERO Copper Corp		1,239
	33,012		Essel Propack Ltd		55
	151,664		Essentra plc		794
	475,574		Eternal Chemical Co Ltd		389
	797,342		Eugene Corp		3,234
	178,128		Everlight Chemical Industrial Corp		94
	2,348,475		Evolution Mining Ltd		7,165
	35,062		Evonik Industries AG.		866
	1,176,765		Evraz plc		6,773
	829,300		Fauji Fertilizer Co Ltd		494
	236,050		Feng Hsin Iron & Steel Co		391
	20,600		Ferbasa-Ferro Ligas DA Bahia		90
	2,295,333		Ferrexpo plc		4,550
	83,943	*	Ferro Corp		996
	202,348	*,†	Ferroglobe plc		0
	18,105		Finolex Industries Ltd		152
	232,051	*,e	First Majestic Silver Corp		2,111
	2,174,879		First Quantum Minerals Ltd		18,271

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,781,126	e	Fletcher Building Ltd	$	5,744
	55,342	*,e	Flotek Industries, Inc		122
	348,584		FMC Corp		30,564
	23,372	*,e	Foosung Co Ltd		166
	3,329,354		Formosa Chemicals & Fibre Corp		9,308
	4,181,176		Formosa Plastics Corp		12,737
	578,256	g	Forterra plc		2,023
	117,039	*,e	Forterra, Inc		846
	3,991,011		Fortescue Metals Group Ltd		23,755
	205,825	*,e	Fortuna Silver Mines, Inc		637
	14,100		FP Corp		882
	197,226		Franco-Nevada Corp		17,971
	3,964,005		Freeport-McMoRan Copper & Gold, Inc (Class B)		37,936
	888,919	e	Fresnillo plc		7,478
	61,890		Fuchs Petrolub AG. (Preference)		2,321
	4,758,200	e	Fufeng Group Ltd		2,182
	25,600		Fuji Seal International, Inc		649
	10,400		Fujimi, Inc		246
	22,900		Fujimori Kogyo Co Ltd		681
	17,000		Furukawa-Sky Aluminum Corp		288
	2,127,800		Fushan International Energy Group Ltd		440
	18,000	e	Fuso Chemical Co Ltd		402
	27,585		FutureFuel Corp		329
	219,247	*,e	Galaxy Resources Ltd		162
	160,100	*	GCP Applied Technologies, Inc		3,082
	2,459,112		Gerdau S.A. (Preference)		7,789
	9,916		Givaudan S.A.		27,676
	9,584,436		Glencore Xstrata plc		28,883
	941,000		Global Green Chemicals PCL		375
	160,400		Global Green Chemicals PCL		64
	70,900	e	Godo Steel Ltd		1,395
	1,557,902		Gold Fields Ltd		7,769
	199,021	*	Gold Resource Corp		607
	398,714	*	Gold Road Resources Ltd		335
	2,682,510		Goldsun Development & Construction Co Ltd		784
	402,000		Grand Pacific Petrochemical		235
	195,589		Granges AB		1,996
	1,113,149		Graphic Packaging Holding Co		16,419
	425,263		Grasim Industries Ltd		4,385
	605,755	*,†	Great Basin Gold Ltd		5
	392,000		Greatview Aseptic Packaging Co		193
	118,300		Greif, Inc (Class A)		4,482
	5,624		Greif, Inc (Class B)		256
	6,882		Groupe Guillin		140
	252,490		Grupo Argos S.A.		1,238
	84,000	e	Grupo Cementos de Chihuahua SAB de C.V.		449
	5,426,544		Grupo Mexico S.A. de C.V. (Series B)		12,688
	10,837		Gujarat Alkalies & Chemicals Ltd		70
	12,213		Gujarat Flourochemicals		14
	252,841		Gujarat Narmada Valley Fertilizers Co Ltd		722
	5,756		Gulf Oil Lubricants India Ltd		70
	857		Gurit Holding AG.		1,147
	3,774		H&R GmbH & Co KGaA		25
	53,810		H.B. Fuller Co		2,505

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,278		Hadera Paper Ltd	$	59
	698		Hanil Cement Co Ltd		58
	863		Hanil Cement Manufacturing		36
	4,444		Hansol Chemical Co Ltd		296
	174,377		Hansol Paper Co Ltd		2,245
	343,826		Hanwha Chemical Corp		5,158
	232,738	*	Harmony Gold Mining Co Ltd		661
	9,932		Hawkins, Inc		422
	20,069		Haynes International, Inc		719
	743,011	e	Hecla Mining Co		1,308
	740,186		HeidelbergCement AG.		53,478
	26,187		HeidelbergCement India Ltd		70
	133,820		Hengli Petrochemical Co Ltd		280
	141,500		Hengyi Petrochemical Co Ltd		259
	434,600		Hesteel Co Ltd		153
	727,807		Hexpol AB		5,586
	138,003		Hill & Smith Holdings plc		2,121
	37,657		Himadri Speciality Chemical Ltd		43
	1,841,881		Hindalco Industries Ltd		4,981
	117,159		Hitachi Chemical Co Ltd		3,843
	398,018	e	Hitachi Metals Ltd		4,322
	234,938	e	Hochschild Mining plc		592
	3,200		Hodogaya Chemical Co Ltd		99
	644,529		Hokuetsu Paper Mills Ltd		3,239
	68,979		Holcim Ltd		3,397
	60,666		Holmen AB		1,436
	16,693		Honam Petrochemical Corp		3,292
	122,000		Hsin Kuang Steel Co Ltd		112
	353,000		Huabao International Holdings Ltd		129
	8,862		Huchems Fine Chemical Corp		159
	307,258		HudBay Minerals, Inc		1,109
	96,587	e	Huhtamaki Oyj		3,848
	109,929		Huntsman Corp		2,557
	1,358	*	Hyosung Advanced Materials Corp		140
	3,971		Hyosung Chemical Corp		562
	73,167		Hyosung Corp		5,128
	131,035		Hyundai Steel Co		4,257
	611,145	*,e	IAMGOLD Corp		2,085
	956,455	g	Ibstock plc		2,778
	607,442		Iluka Resources Ltd		3,281
	50,002		IMCD Group NV		3,695
	81,803		Imerys S.A.		3,286
	1,286,195	*	Impala Platinum Holdings Ltd		8,094
	1,413,654		Incitec Pivot Ltd		3,237
	1,317,145		Independence Group NL		5,730
	81,487		India Cements Ltd		91
	1,557,778		Indorama Ventures PCL (Foreign)		1,655
	151,781		Industrias Penoles S.A. de C.V.		2,020
	109,838	*	Ingevity Corp		9,319
	603,100		Inner Mongolia BaoTou Steel Union Co Ltd		123
	210,120		Inner Mongolia Eerduosi Resourses Co Ltd		156
	2,800	*	Inner Mongolia Junzheng Energy & Chemical Industry Group Co Ltd		1

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,083		Innophos Holdings, Inc	$	619
	125,774		Innospec, Inc		11,211
	21,213	*,†	Inox Fluorochemicals Ltd		222
	85,554	*	Interfor Corp		904
	239,566	e	International Flavors & Fragrances, Inc		29,392
	1		International Flavors & Fragrances, Inc (Tel Aviv)		0	^
	879,587		International Paper Co		36,784
	76,866		Intertape Polymer Group, Inc		1,001
	603,294	*	Intrepid Potash, Inc		1,973
	190,600		Ishihara Sangyo Kaisha Ltd		1,734
	311,238		Israel Chemicals Ltd		1,557
	5,822	*	Israel Corp Ltd		1,319
	728,416	*	Ivanhoe Mines Ltd		1,891
	426,765		James Hardie Industries NV		7,169
	59,811		Jastrzebska Spolka Weglowa S.A.		325
	24,700		JCU Corp		500
	970,516		JFE Holdings, Inc		11,755
	3,250,445		Jiangxi Copper Co Ltd		3,764
	80,000		Jiangxi Copper Co Ltd (Class A)		161
	80,800		Jiangxi Ganfeng Lithium Co Ltd		256
	1,287,000		Jinchuan Group International Resources Co Ltd		103
	394,773		Jindal Saw Ltd		478
	490,564	*	Jindal Steel & Power Ltd		718
	173,049		Jinduicheng Molybdenum Co Ltd		183
	357,091	*,e	Jinshan Gold Mines, Inc		307
	8,465		JK Cement Ltd		125
	18,352		JK Lakshmi Cement Ltd		79
	21,149		Johnson Matthey plc		794
	7,400		JSP Corp		122
	1,922,615		JSR Corp		30,956
	1,361,317		JSW Steel Ltd		4,424
	863,180		Jupiter Mines Ltd		227
	109,844		K&S AG.		1,522
	56,021		Kaiser Aluminum Corp		5,544
	38,028	e	Kaneka Corp		1,192
	193,413	e	Kansai Paint Co Ltd		4,521
	28,700		Kanto Denka Kogyo Co Ltd		217
	363,161	*	Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		143
	1,688,613		KAZ Minerals plc		9,005
	235,949		Kemira Oyj		3,470
	281,197	*	KGHM Polska Miedz S.A.		5,613
	20,100		KH Neochem Co Ltd		440
	1,172,459	*	Kinross Gold Corp		5,398
	517,109		Kirkland Lake Gold Ltd		23,165
	2,702		KISWIRE Ltd		54
	623,551		Klabin S.A.		2,310
	1,349,700		Klabin S.A. (Preference)		952
	44,585	*	Klondex Mines Ltd		78
	18,700		Koatsu Gas Kogyo Co Ltd		140
	279,670		Kobe Steel Ltd		1,502
	9,119		Kolon Industries, Inc		319
	16,600		Konishi Co Ltd		228
	19,163	*	Koppers Holdings, Inc		560

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	14,583		Korea Kumho Petrochemical	$	872
	17,562		Korea Petrochemical Ind Co Ltd		1,869
	7,916		Korea Zinc Co Ltd		2,963
	22,043	*	Koza Altin Isletmeleri AS		255
	998,391	*	Koza Anadolu Metal Madencilik Isletmeleri AS		1,630
	69,274	*	Kraton Polymers LLC		2,237
	24,976		Kronos Worldwide, Inc		309
	9,500	e	Krosaki Harima Corp		498
	65,820	e	Kumba Iron Ore Ltd		1,626
	48,448	e	Kumiai Chemical Industry Co Ltd		420
	272,267		Kuraray Co Ltd		3,364
	66,800		Kureha CORP		3,998
	133,600		Kyoei Steel Ltd		2,517
	184,461	e	Labrador Iron Ore Royalty Corp		3,429
	553,971		Lanxess AG.		33,834
	361,095	*,e	Largo Resources Ltd		401
	1,376,000		Lee & Man Paper Manufacturing Ltd		744
	20,302	e	Lenzing AG.		1,955
	62,212		LG Chem Ltd		15,556
	8,034		LG Chem Ltd (Preference)		1,124
	11,079		Linde India Ltd		80
	1,567,016		Linde plc		303,562
	659,664		Linde plc (Xetra)		128,036
	24,600		Lintec Corp		490
	58,383	*,e	Lithium Americas Corp		179
	156,884	*	Livent Corp		1,050
	9,209		Lock & Lock Co Ltd		96
	28,900	*	Loma Negra Cia Industrial Argentina S.A. (ADR)		166
	251,103		Long Chen Paper Co Ltd		110
	629,644		Louisiana-Pacific Corp		15,477
	24,794	*	LSB Industries, Inc		128
	420,979	e	Lucara Diamond Corp		353
	61,950		Lucky Cement Ltd		136
	83,286	*	Lundin Gold, Inc		481
	620,138		Lundin Mining Corp		2,916
	650,039	*	Lynas Corp Ltd		1,189
	405,622		LyondellBasell Industries AF S.C.A		36,291
	1,814,000	e	Maanshan Iron & Steel Co Ltd		683
	265,500		Maanshan Iron & Steel Co Ltd (Class A)		100
	57,523		Madras Cements Ltd		611
	101,085	*,e	MAG. Silver Corp		1,074
	102,713	*	Major Drilling Group International		496
	52,950	*	Marrone Bio Innovations, Inc		75
	574,533		Marshalls plc		4,676
	10,123		Martin Marietta Materials, Inc		2,775
	43,802		Maruichi Steel Tube Ltd		1,163
	250,118		Materion Corp		15,347
	60,647	*	Mayville Engineering Co Inc		800
	75,800	*,e	Mechel PJSC (ADR)		142
	3,649,153	*	Mesaieed Petrochemical Holding Co		2,986
	348,500		Metalurgica Gerdau S.A.		524
	85,458		Methanex Corp		3,032
	319,414		Mineral Resources Ltd		2,889

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	84,008		Minerals Technologies, Inc	$	4,460
	29,226		Miquel y Costas & Miquel S.A.		519
	1,638,459		Mitsubishi Chemical Holdings Corp		11,743
	155,888	e	Mitsubishi Gas Chemical Co, Inc		2,097
	86,320	e	Mitsubishi Materials Corp		2,340
	209,277		Mitsui Chemicals, Inc		4,715
	33,300		Mitsui Mining & Smelting Co Ltd		795
	556,094		MMC Norilsk Nickel PJSC (ADR)		14,230
	2,060,000	*	MMG Ltd		486
	26,786		MOIL Ltd		52
	473,465		Mondi plc		9,066
	12,981	*,†	Mongolian Metals Corporation		0
	2,065		Monsanto India Ltd		65
	103,207		Moorim P&P Co Ltd		387
	3,241,074		Mosaic Co		66,442
	907,719		Mount Gibson Iron Ltd		484
	110,819	e	M-real Oyj (B Shares)		659
	36,951		Myers Industries, Inc		652
	104,932		Mytilineos Holdings S.A.		1,096
	34,123	*	Najran Cement Co		92
	11,900		Nakayama Steel Works Ltd		48
	11,141		Namhae Chemical Corp		84
	315,111	*	Nampak Ltd		197
	24,000		Nan Pao Resins Chemical Co Ltd		117
	4,859,071		Nan Ya Plastics Corp		10,915
	1,012,275		Nantex Industry Co Ltd		1,022
	1,649,567		National Aluminium Co Ltd		1,082
	287,911	*	National Industrialization Co		1,024
	16,823		Neenah Paper, Inc		1,096
	17,521		Neo Performance Materials, Inc		140
	24,800		Neturen Co Ltd		196
	1,287,365	*,e	New Gold, Inc		1,292
	904,719		Newcrest Mining Ltd		20,877
	4,854		NewMarket Corp		2,292
	3,151,664		Newmont Mining Corp		119,511
	17,600		Nihon Nohyaku Co Ltd		80
	126,800		Nihon Parkerizing Co Ltd		1,384
	1,940,902		Nine Dragons Paper Holdings Ltd		1,635
	59,600	e	Nippon Denko Co Ltd		93
	76,800	e	Nippon Kayaku Co Ltd		921
	509,600		Nippon Light Metal Holdings Co Ltd		920
	169,286		Nippon Paint Co Ltd		8,854
	490,400	e	Nippon Paper Industries Co Ltd		8,013
	15,300		Nippon Shokubai Co Ltd		874
	13,400		Nippon Soda Co Ltd		325
	1,092,452		Nippon Steel Corp		15,308
	9,700		Nippon Valqua Industries Ltd		196
	145,983		Nissan Chemical Industries Ltd		6,112
	5,200		Nittetsu Mining Co Ltd		205
	148,863		Nitto Denko Corp		7,213
	53,260		NOF Corp		1,764
	65,681		Norbord, Inc		1,575
	1,254,461		Norsk Hydro ASA		4,417
	195,275	*	Northam Platinum Ltd		1,072

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	35,369	*	Northern Region Cement Co	$	99
	544,162		Northern Star Resources Ltd		4,044
	238,559	*	Novagold Resources Inc		1,448
	317,647	*,e	Novagold Resources, Inc		1,930
	110,043		Novolipetsk Steel PJSC (GDR)		2,390
	148,248		Novozymes AS		6,235
	505,381		Nucor Corp		25,729
	164,987	e	Nufarm Ltd		629
	281,530		Nutrien Ltd		14,043
	1,116,548		Nutrien Ltd (Toronto)		55,623
	815,695		OceanaGold Corp		2,130
	19,598		OCI Co Ltd		1,138
	48,845	*	OCI NV		1,152
	50,266		Odisha Cement Ltd		583
	15,575		Oeneo S.A.		174
	840,096		OJI Paper Co Ltd		3,944
	6,000		Okamoto Industries, Inc		221
	302,099		Olin Corp		5,655
	10,256		Olympic Steel, Inc		148
	75,746	e	Omnia Holdings Ltd		125
	92,965	*	Omnova Solutions, Inc		936
	984,843		Orbia Advance Corp SAB de C.V.		1,922
	478,158		Orica Ltd		7,281
	1,220,000		Oriental Union Chemical Corp		867
	131,677	*	Orion Engineered Carbons SA		2,200
	670,678	*,e	Orocobre Ltd		1,180
	689,991		Orora Ltd		1,346
	8,200		Osaka Steel Co Ltd		101
	141,084		Osisko Gold Royalties Ltd		1,311
	244,685	*,e	Osisko Mining, Inc		578
	181,087	e	Outokumpu Oyj		477
	101,016		Owens-Illinois, Inc		1,037
	185,345		Oxiana Ltd		1,204
	7,350	e	Pacific Metals Co Ltd		153
	11,100		Pack Corp		377
	18,550		Packages Ltd		35
	170,867		Packaging Corp of America		18,129
	304,199	e	Pact Group Holdings Ltd		452
	273,262	e	Pan American Silver Corp (Toronto)		4,280
	499,178		Petkim Petrokimya Holding		319
	5,757,416		Petronas Chemicals Group BHD		10,360
	153,318		PH Glatfelter Co		2,360
	147,678		Phillips Carbon Black Ltd		248
	115,527		PhosAgro PJSC (GDR)		1,475
	26,370		PI Industries Ltd		486
	160,129	*	Pidilite Industries Ltd		3,263
	844,917	*,e	Pilbara Minerals Ltd		183
	191,864		Polymetal International plc (ADR)		2,695
	606,090		PolyOne Corp		19,789
	100,028		Polyus PJSC		5,777
	44,726		Poongsan Corp		833
	166,185		Portucel Empresa Produtora de Pasta e Papel S.A.		594
	76,613		POSCO		14,523

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,181	e	POSCO Refractories & Environment Co Ltd	$	928
	2,913,604	*	PPC Ltd		771
	288,374		PPG Industries, Inc		34,175
	51,214	*	PQ Group Holdings, Inc		816
	291,381	*,e	Premier Gold Mines Ltd		411
	1,311,600		Press Metal BHD		1,490
	228,147	*	Pretium Resources, Inc		2,630
	57,823		Prism Cement Ltd		68
	3,727,704		PT Aneka Tambang Tbk		256
	22,356,300		PT Barito Pacific Tbk		1,559
	2,429,800		PT Indah Kiat Pulp and Paper Corp Tbk		1,109
	1,563,243		PT Indocement Tunggal Prakarsa Tbk		2,060
	2,080,998	*	PT Krakatau Steel Tbk		51
	2,412,600		PT Pabrik Kertas Tjiwi Kimia Tbk		1,793
	8,218,300	*,†	PT Sekawan Intipratama Tbk		0	^
	2,741,838		PT Semen Gresik Persero Tbk		2,229
	1,435,557		PT Timah Tbk		98
	15,580,900		PT Waskita Beton Precast Tbk		356
	2,094,677		PTT Global Chemical PCL (Foreign)		3,683
	19,634		Qassim Cement Co		278
	4,613,680		Qatar Aluminum Manufacturing Co		1,262
	264,756		Qatar National Cement Co		446
	13,854		Quaker Chemical Corp		2,191
	163,662		Rain Commodities Ltd		222
	19,634		Rallis India Ltd		49
	22,733	*,e	Ramaco Resources, Inc		85
	52,864		Rayonier Advanced Materials, Inc		229
	86,606	e	Recticel S.A.		735
	807,454		Regis Resources Ltd		2,664
	143,205		Reliance Steel & Aluminum Co		14,272
	916,067		Rengo Co Ltd		6,620
	430,073		Resolute Mining Ltd		411
	110,591		Rhi Magnesita NV		5,514
	562,210		Rio Tinto Ltd		35,214
	1,697,697		Rio Tinto plc		88,251
	133,800		Rongsheng Petro Chemical Co Ltd		206
	55,680	*	Royal Bafokeng Platinum Ltd		143
	136,315		Royal Gold, Inc		16,795
	84,742		RPM International, Inc		5,831
	22,422	*	Ryerson Holding Corp		191
	39,687		Sa des Ciments Vicat		1,722
	305,278		Sahara International Petrochemical Co		1,465
	8,800		Sakai Chemical Industry Co Ltd		207
	23,700		Sakata INX Corp		247
	183,968		Salzgitter AG.		3,090
	22,545		Samsung Fine Chemicals Co Ltd		859
	118,327		Sandfire Resources NL		525
	227,908	*	Sandstorm Gold Ltd		1,288
	7,200		Sanyo Chemical Industries Ltd		311
	24,900		Sanyo Special Steel Co Ltd		334
	461,465		Sappi Ltd		1,144
	2,478,108	*	Saracen Mineral Holdings Ltd		5,759
	161,400		Satipel Industrial S.A.		491
	255,469		Saudi Arabian Fertilizer Co		5,471

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	337,101	*	Saudi Arabian Mining Co	$	4,089
	687,530		Saudi Basic Industries Corp		16,873
	127,545		Saudi Cement Co		2,425
	275,434		Saudi Industrial Investment Group		1,697
	698,534	*	Saudi Kayan Petrochemical Co		1,899
	97,066		Scapa Group plc		257
	276,988	*,e	Schmolz + Bickenbach AG.		62
	27,480	e	Schnitzer Steel Industries, Inc (Class A)		568
	32,182		Schweitzer-Mauduit International, Inc		1,205
	124,700		Scientex BHD		266
	125,766		Scotts Miracle-Gro Co (Class A)		12,805
	55,886	*,e	Seabridge Gold, Inc		706
	54,690		Seah Besteel Corp		749
	120,684		Sealed Air Corp		5,010
	25,800		Sekisui Plastics Co Ltd		180
	430,309	*	SEMAFO, Inc		1,380
	61,732		Semapa-Sociedade de Investimento e Gestao		787
	44,464	e	Sensient Technologies Corp		3,052
	2,822,730		Sesa Sterlite Ltd		6,150
	672,997		Severstal (GDR)		9,658
	88,760		Shandong Gold Mining Co Ltd		419
	312,700		Shanghai Chlor-Alkali Chemical Co Ltd		192
	11,920		Sharda Cropchem Ltd		51
	199,800		Shenzhen Zhongjin Lingnan Nonfemet Co Ltd		113
	199,013		Sherwin-Williams Co		109,431
	35,400		Shikoku Chemicals Corp		373
	8,608	*	Shine Co Ltd		37
	503,028		Shin-Etsu Chemical Co Ltd		54,131
	145,800		Shin-Etsu Polymer Co Ltd		1,018
	3,727,032		Shinkong Synthetic Fibers Corp		1,368
	30,000		Shiny Chemical Industrial Co Ltd		81
	180,689		Showa Denko KK		4,768
	11,264		Shree Cement Ltd		3,004
	747,225		Siam Cement PCL (Foreign)		9,964
	3,666,525	*	Sibanye Gold Ltd		5,083
	67,920		Sidi Kerir Petrochemcials Co		39
	92,238		SIG Combibloc Group AG.		1,229
	14,214		Sika AG.		2,080
	337,849		Silgan Holdings, Inc		10,147
	582,000	*	Silver Grant International		96
	1,849,185	*	Silver Lake Resources Ltd		1,164
	221,610		Silvercorp Metals, Inc		860
	128,981		Sims Group Ltd		906
	850,000		Sinofert Holdings Ltd		87
	3,646,674		Sinopec Shanghai Petrochemical Co Ltd		1,060
	582,500		Sinopec Shanghai Petrochemical Co Ltd (Class A)		341
	6,369,702	*,e	Sirius Minerals plc		312
	5,428		SK Chemicals Co Ltd		100
	3,537		SK Chemicals Co Ltd (New)		134
	68,181		SKC Co Ltd		2,268
	7,167		SKCKOLONPI, Inc		169
	623,370		Smurfit Kappa Group plc		18,536
	187,534		Sociedad Quimica y Minera de Chile S.A. (Class B)		5,163

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,725,296		Soda Sanayii AS	$	2,851
	2,640		SODIFF Advanced Materials Co Ltd		368
	1,676,974	*,e	SolGold plc		445
	49,236		Solvay S.A.		5,097
	6,886		Songwon Industrial Co Ltd		107
	65,901		Sonoco Products Co		3,836
	4,460,520		South32 Ltd		7,867
	6,561		South32 Ltd (W/I)		12
	240,655		Southern Copper Corp (NY)		8,214
	29,299		Southern Province Cement Co		446
	37,746		SRF Ltd		1,467
	247,974		Ssab Svenskt Stal AB (Series A)		689
	757,349		Ssab Svenskt Stal AB (Series B)		1,881
	157,926	*	SSR Mining, Inc		2,290
	903,081		St Barbara Ltd		1,764
	594,400		Steel Dynamics, Inc		17,713
	46,336	e	Stelco Holdings, Inc		324
	5,300	e	Stella Chemifa Corp		130
	76,469	e	Stella-Jones, Inc		2,234
	32,524		Stepan Co		3,157
	7,657		STO AG.		800
	623,656		Stora Enso Oyj (R Shares)		7,505
	20,100		Sumitomo Bakelite Co Ltd		792
	1,738,622		Sumitomo Chemical Co Ltd		7,849
	194,661		Sumitomo Metal Mining Co Ltd		6,079
	20,700	e	Sumitomo Osaka Cement Co Ltd		890
	4,700		Sumitomo Seika Chemicals Co Ltd		139
	11,612		Sumitomo Titanium Corp		191
	148,694	*	Summit Materials, Inc		3,301
	475,465	*	SunCoke Energy, Inc		2,682
	67,922		Supreme Industries Ltd		1,181
	452,263		Suzano Papel e Celulose S.A.		3,663
	492,926		Svenska Cellulosa AB (B Shares)		4,392
	13,688		Symrise AG.		1,331
	7,789		Synalloy Corp		124
	899,424	*,e	Syrah Resources Ltd		307
	15,300	e	T Hasegawa Co Ltd		284
	2,694,459		TA Chen Stainless Pipe		3,015
	188		Taekwang Industrial Co Ltd		178
	112,765		Taiheiyo Cement Corp		3,030
	9,802,340		Taiwan Cement Corp		12,524
	403,000		Taiwan Fertilizer Co Ltd		591
	122,725		Taiwan Hon Chuan Enterprise Co Ltd		219
	3,551,329		Taiwan Styrene Monomer		2,490
	10,100		Taiyo Ink Manufacturing Co Ltd		341
	159,333	e	Taiyo Nippon Sanso Corp		3,238
	7,800		Takasago International Corp		190
	48,500		Takiron Co Ltd		282
	9,800	*	Tanaka Chemical Corp		73
	29,298		Tata Chemicals Ltd		244
	321,561		Tata Steel Ltd		1,638
	8,500		Tayca Corp		154
	4,409		Technosemichem Co Ltd		269
	1,230,104		Teck Cominco Ltd		19,944

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	429,247		Teijin Ltd	$	8,285
	35,000	e	Tenma Corp		638
	15,036	*	Tessenderlo Chemie NV		475
	998,864		ThyssenKrupp AG.		13,822
	1,406,000		Tiangong International Co Ltd		511
	1,735,391		Tianqi Lithium Corp		6,627
	39,931		Tikkurila Oyj		589
	64,471		Time Technoplast Ltd		54
	44,666	*	TimkenSteel Corp		281
	2,811,000		Tipco Asphalt PCL		1,940
	288,600		Tipco Asphalt PCL		199
	35,218	*	Titan Cement International S.A.		733
	49,640	*,e	TMAC Resources, Inc		166
	59,400		Toagosei Co Ltd		674
	13,100	e	Toho Titanium Co Ltd		101
	7,100		Toho Zinc Co Ltd		132
	114,700	e	Tokai Carbon Co Ltd		1,162
	4,700		Tokushu Tokai Holdings Co Ltd		165
	43,000	e	Tokuyama Corp		992
	18,800		Tokyo Ohka Kogyo Co Ltd		703
	1,075,700		Tokyo Steel Manufacturing Co Ltd		8,270
	341,750		Ton Yi Industrial Corp		131
	62,493	b	Tong Yang Major Corp		79
	455,500		Tongling Nonferrous Metals Group Co Ltd		139
	15,844		Tongyang Cement & Energy Corp		48
	60,700		Topy Industries Ltd		1,084
	558,335		Toray Industries, Inc		4,158
	108,418	*	Torex Gold Resources, Inc		1,344
	298,272		Tosoh Corp		3,974
	17,600		Toyo Ink Manufacturing Co Ltd		402
	171,552		Toyo Seikan Kaisha Ltd		2,677
	46,067		Toyobo Co Ltd		607
	3,254,400		TPI Polene PCL		163
	216,900		Transfar Zhilian Co Ltd		237
	22,593	*	Trecora Resources		204
	25,771		Tredegar Corp		503
	836,602	*,e	Trevali Mining Corp		145
	194,690		Trinseo S.A.		8,362
	3,673,294		Tronox Holdings plc		30,488
	173,000	g	Tsaker Chemical Group Ltd		42
	335,000		TSRC Corp		259
	63,929		Tubacex S.A.		182
	386,000		Tung Ho Steel Enterprise Corp		268
	1,057,607	*,e	Turquoise Hill Resources Ltd		495
	234,900		UBE Industries Ltd		4,772
	29,092	*	UFP Technologies, Inc		1,123
	135,869		Ultra Tech Cement Ltd		8,330
	28,596	e	Umicore S.A.		1,080
	21,950		Uniao de Industrias Petroquimicas S.A.		168
	2,396		Unid Co Ltd		92
	1,118,489	*	United Phosphorus Ltd		9,537
	1,678		United States Lime & Minerals, Inc		128
	282,753	e	United States Steel Corp		3,266

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	236,676		Universal Cement Corp	$	142
	2,756,135		UPC Technology Corp		942
	759,802		UPM-Kymmene Oyj		22,436
	15,995	*	US Concrete, Inc		884
	2,178,655		USI Corp		906
	3,148,443	*	Vale S.A.		36,183
	33,934		Valhi, Inc		64
	699,299		Valvoline, Inc		15,406
	34,928	*	Verso Corp		432
	597		Vetropack Holding AG.		1,581
	92,932	e	Victrex plc		2,461
	5,920		Vinati Organics Ltd		180
	1,330,200		Vinythai PCL (Foreign)		1,070
	274,397	e	Voestalpine AG.		6,309
	233,360		Vulcan Materials Co		35,293
	31,224	e	Wagners Holding Co Ltd		37
	138,000		Wanhua Chemical Group Co Ltd		855
	160,343		Warrior Met Coal, Inc		3,130
	172,557		Welspun-Gujarat Stahl Ltd		326
	16,794,000		West China Cement Ltd		2,745
	82,703		West Fraser Timber Co Ltd		3,308
	973,283		Western Areas NL		2,040
	502,862	e	Western Forest Products, Inc		455
	1,021,912	*	Westgold Resources Ltd		1,722
	27,197		Westlake Chemical Corp		1,782
	773,959		WestRock Co		28,211
	487,779		Wheaton Precious Metals Corp		12,790
	3,529,722		Wienerberger AG.		85,925
	42,422		Winpak Ltd		1,405
	3,370		Wonik Materials Co Ltd		69
	41,202	*	Worthington Industries, Inc		1,485
	425,326		WR Grace and Co		28,395
	9,900	e	W-Scope Corp		55
	137,423	*	Yamama Cement Co		850
	1,236,687		Yamana Gold, Inc		3,921
	35,500		Yamato Kogyo Co Ltd		885
	36,276		Yanbu Cement Co		335
	207,232		Yanbu National Petrochemical Co		2,958
	628,783		Yara International ASA		27,110
	884,100		Yeun Chyang Industrial Co Ltd		747
	513,220		Yieh Phui Enterprise		151
	17,400		Yodogawa Steel Works Ltd		326
	4,463		Youlchon Chemical Co Ltd		53
	198		Young Poong Corp		101
	231,000	*,†,e	Youyuan International Holdings Ltd		8
	1,209,285		Yuen Foong Yu Paper Manufacturing Co Ltd		454
	346,713		Yule Catto & Co plc		1,383
	21,434		Zaklady Azotowe w Tarnowie-Moscicach S.A.		181
	132,312		Zeon Corp		1,622
	840,500		Zhaojin Mining Industry Co Ltd		970
	70,837		Zhejiang Huayou Cobalt Co Ltd		267
	135,000		Zhejiang Longsheng Group Co Ltd		266
	176,900		Zhongjin Gold Corp Ltd		214
	24,954		Zignago Vetro S.p.A.		277

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,796,731		Zijin Mining Group Co Ltd	$	2,002
	1,080,200		Zijin Mining Group Co Ltd (Class A)		494
			TOTAL MATERIALS		5,060,179
MEDIA & ENTERTAINMENT - 6.3%
	164,100	*	58.COM, Inc (ADR)		8,092
	2,338,741	e	Activision Blizzard, Inc		123,766
	9,513		Addcn Technology Co Ltd		76
	131,149	*	Adevinta ASA		1,517
	3,941		AfreecaTV Co Ltd		211
	124,012	*	Aimia, Inc		316
	46,000	e	Akatsuki, Inc		2,851
	11,687,467	*	Alibaba Pictures Group Ltd		1,894
	645,863	*	Alphabet, Inc (Class A)		788,689
	931,562	*	Alphabet, Inc (Class C)		1,135,574
	2,071,001	*,e	Altice NV (Class A)		10,826
	264	*	Altice NV (Class B)		1
	963,792	*	Altice USA, Inc		27,642
	56,571	e	AMC Entertainment Holdings, Inc		605
	156,660	*,e	AMC Networks, Inc		7,701
	81,400		Amuse, Inc		2,044
	52,052	e	Antena 3 de Television S.A.		201
	1,262		APG SGA S.A.		341
	98,478	*	Arnoldo Mondadori Editore S.p.A.		173
	923,812	g	Ascential plc		4,307
	2,200	e	Ateam, Inc		23
	2,901,472	g	Auto Trader Group plc		18,185
	41,833	*,e	Autohome, Inc (ADR)		3,478
	19,159		Avex Group Holdings, Inc		225
	5,367		Axel Springer AG.		370
	36,551	*	Axel Springer SE		2,510
	286,472	*	Baidu, Inc (ADR)		29,438
	617,200	*	BEC World PCL (Foreign)		149
	3,400	*,e	Bengo4.com, Inc		128
	14,600	*,e	Bitauto Holdings Ltd (ADR)		219
	1,409,000		Borussia Dortmund GmbH & Co KGaA		14,175
	10,146	*,e	Boston Omaha Corp		201
	2,214		Cable One, Inc		2,778
	209,478		Cairo Communication S.p.A.		536
	50,772		Capcom Co Ltd		1,351
	14,040	*,e	Cardlytics, Inc		471
	22,704	*	Care.com, Inc		237
	188,126	*,e	Cargurus, Inc		5,823
	70,380	*	Cars.com, Inc		632
	133,514		carsales.com Ltd		1,379
	64,811	*	Catena Media plc		305
	42,520	*,e	cbdMD Inc		168
	1,756,672		CBS Corp (Class B)		70,917
	59,572		CD Projekt Red S.A.		3,625
	39,482	*,e	Central European Media Enterprises Ltd (Class A)		179
	402,036	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		1,807
	9,000	e	Changyou.com Ltd (ADR)		86

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	237,567	*	Charter Communications, Inc	$	97,906
	136,616		Cheil Communications, Inc		2,832
	161,865	*,†	Chennai Super Kings Cricket Ltd		32
	11,300		China Film Co Ltd		24
	226,200	*,e,g	China Literature Ltd		768
	6,000		China South Publishing & Media Group Co Ltd		10
	97,700		Chinese Universe Publishing and Media Group Co Ltd		179
	192,716		Cinemark Holdings, Inc		7,447
	101,785	e	Cineplex Galaxy Income Fund		1,864
	1,091,398	e	Cineworld Group plc		3,055
	33,400	*	CITIC Guoan Information Industry Co Ltd		17
	6,432		CJ CGV Co Ltd		179
	11,999		CJ Hellovision Co Ltd		63
	1,924,011	*	Clear Channel		4,849
	91,669		Cogeco Communications, Inc		7,388
	22,392		Cogeco, Inc		1,613
	29,400	e	COLOPL, Inc		486
	10,513		Com2uSCorp		819
	13,791,218		Comcast Corp (Class A)		621,708
	50,434	*	comScore, Inc		96
	2,000,000	*	Conyers Park II Acquisition Corp		21,260
	26,600	*	COOKPAD, Inc		75
	277,386		Corus Entertainment, Inc		1,108
	232,511		CTS Eventim AG.		13,099
	14,463	*	Cumulus Media Inc		210
	292,130	e	CyberAgent, Inc		11,261
	194,676		Cyfrowy Polsat S.A.		1,282
	23,200		Daiichikosho Co Ltd		1,074
	1,304	*,e	Daily Journal Corp		323
	639,676		Daily Mail & General Trust plc		6,708
	65,400		Dena Co Ltd		1,156
	69,773		Dentsu, Inc		2,467
	52,338	*,e	DHI Group, Inc		202
	30,600,000	*	Digital Domain Holdings Ltd		367
	30,900	e	Dip Corp		754
	33,458	*,e	Discovery, Inc (Class A)		891
	96,886	*	Discovery, Inc (Class C)		2,385
	933,983	*	DISH Network Corp (Class A)		31,821
	135,913	e	Domain Holdings Australia Ltd		311
	858,855	*	Electronic Arts, Inc		84,013
	165,608		Emerald Expositions Events, Inc		1,611
	419,734	e	Entercom Communications Corp (Class A)		1,402
	2,956,256		Entertainment One Ltd		20,559
	455,611		Entravision Communications Corp (Class A)		1,449
	96,672	*,e	Eros International plc		185
	104,240		Euromoney Institutional Investor plc		1,897
	417,934		Eutelsat Communications		7,774
	37,673	*,e	Eventbrite Inc		667
	8,726	*,e	EverQuote Inc		186
	70,364		EW Scripps Co (Class A)		934
	26,000		F@N Communications, Inc		130
	6,678,888	*	Facebook, Inc		1,189,376
	19,639	*,e	Fang Holdings Ltd (ADR)		44
	391,000	*	FingerTango, Inc		39

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	56,700	*,e	Fluent, Inc	$	155
	635,840		Focus Media Information Technology Co Ltd		467
	496,603		Fox Corp (Class A)		15,660
	280,724		Fox Corp (Class B)		8,854
	52,625	*,e	Frontier Developments plc		659
	991,710	*,e,g	Funding Circle Holdings plc		1,161
	355,337		Future plc		5,356
	4,300		Gakken Co Ltd		213
	2,201	*	Gamevil, Inc		55
	108,601	e	Gannett Co, Inc		1,166
	154,089	*	GCI Liberty, Inc		9,564
	18,300		Giant Network Group Co Ltd		48
	266,253	*,e	Glu Mobile, Inc		1,329
	17,700		Gourmet Navigator, Inc		121
	180,024	*	Gray Television, Inc		2,938
	385,900		Gree, Inc		1,760
	30,510	*	Grocery Outlet Holding Corp		1,058
	2,386,927		Grupo Televisa S.A.		4,673
	866,600	e	Grupo Televisa SAB (ADR)		8,475
	154,399	*	GungHo Online Entertainment Inc		3,512
	230,559		Hakuhodo DY Holdings, Inc		3,350
	21,776	*	Hemisphere Media Group, Inc		266
	307,023	e	HT&E Ltd		383
	324,600	*,e	HUYA, Inc (ADR)		7,674
	22,443		Hyundai Hy Communications & Network Co		69
	497,377	*	IAC/InterActiveCorp		108,413
	251,587	*	IBN18 Broadcast Ltd		85
	4,469	*	I-Cable Communications Ltd		0	^
	3,732,000		IGG, Inc		2,323
	60,500	g	IMAX China Holding, Inc		143
	53,630	*	Imax Corp		1,177
	78,377		Info Edge India Ltd		2,237
	1,652,734		Informa plc		17,309
	12,527		Innocean Worldwide, Inc		697
	19,172	*	Inox Leisure Ltd		90
	108,000		International Games System Co Ltd		1,351
	1,294,022		Interpublic Group of Cos, Inc		27,899
	52,815		IPSOS		1,505
	160,600	*,e	IQIYI, Inc (ADR)		2,590
	605,659		ITE Group plc		635
	4,600	*,e	Itokuro, Inc		89
	5,405,193		ITV plc		8,372
	109,043		Jagran Prakashan Ltd		99
	120,027	e	JC Decaux S.A.		3,248
	1,735	*	Jcontentree Corp		52
	13,584		John Wiley & Sons, Inc (Class A)		597
	16,614	*	Just Dial Ltd		162
	230,089	*,e	Juventus Football Club S.p.A.		336
	12,032		JYP Entertainment Corp		217
	290,932		Kadokawa Dwango Corp		4,083
	314,300		Kakaku.com, Inc		7,764
	62,319		Kakao Corp		7,055
	93,200		Kamakura Shinsho Ltd		1,280

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,994		Kinepolis Group NV	$	614
	16,000	*,e	KLab, Inc		187
	65,551		Konami Corp		3,176
	11,442		KT Skylife Co Ltd		87
	30,296		Lagardere S.C.A.		670
	54,780	*	Lee Enterprises, Inc		112
	3,190,000	*	Leyou Technologies Holdings Ltd		1,030
	10,701	*	Liberty Braves Group (Class A)		298
	108,144	*	Liberty Braves Group (Class C)		3,001
	45,350	*	Liberty Broadband Corp (Class A)		4,740
	170,548	*,e	Liberty Broadband Corp (Class C)		17,851
	194,001	*	Liberty Global plc (Class A)		4,802
	1,913	*	Liberty Global plc (Class C)		46
	323,932	*	Liberty Latin America Ltd (Class A)		5,530
	239,050	*,e	Liberty Latin America Ltd (Class C)		4,087
	43,323	*	Liberty Media Group (Class A)		1,715
	446,824	*	Liberty Media Group (Class C)		18,583
	153,698	*	Liberty SiriusXM Group (Class A)		6,389
	332,919	*	Liberty SiriusXM Group (Class C)		13,969
	520,233	*	Liberty TripAdvisor Holdings, Inc		4,895
	117,992	*,e	LINE Corp		4,234
	175,389		Lions Gate Entertainment Corp (Class A)		1,622
	430,893		Lions Gate Entertainment Corp (Class B)		3,766
	236,156	*	Live Nation, Inc		15,667
	59,894	*,e	LiveXLive Media, Inc		120
	15,996	*	Loral Space & Communications, Inc		662
	118,616		M6-Metropole Television		1,945
	102,500		Macromill, Inc		844
	33,397	*	Madison Square Garden Co		8,801
	28,300	*	Mail.Ru Group Ltd		593
	570,000		Major Cineplex Group PCL		446
	1,494,200		Major Cineplex Group PCL (Foreign)		1,168
	26,700	*	Mango Excellent Media Co Ltd		171
	35,664	*,e	Marchex, Inc (Class B)		112
	30,728		Marcus Corp		1,137
	49,700		Marvelous, Inc		384
	107,219	e	Match Group, Inc		7,660
	55,355	*	MDC Partners, Inc		156
	983,349		Mediaset Espana Comunicacion SA		6,339
	197,681	*,e	Mediaset S.p.A.		582
	77,397	*	Meet Group, Inc		253
	795,000	e	Mega Expo Holdings Ltd		210
	375,200		Megacable Holdings SAB de C.V.		1,511
	40,505	e	Meredith Corp		1,485
	24,800	e	Mixi Inc		524
	796,000	e,g	Mobvista, Inc		396
	44,540		Modern Times Group AB (B Shares)		369
	393,000		Momo, Inc (ADR)		12,175
	59,981	*,e	MSG Networks, Inc		973
	66,400		MTI Ltd		434
	364,710	*	MultiChoice Group Ltd		2,839
	1,863		Nasmedia Co Ltd		49
	64,057		National CineMedia, Inc		525
	225,809		Naver Corp		29,618

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,944		NCsoft	$	5,637
	684,500		NetDragon Websoft, Inc		1,589
	134,900		Netease.com (ADR)		35,908
	962,573	*	NetFlix, Inc		257,604
	20,597	*,e,g	Netmarble Corp		1,625
	150,876	e	New Media Investment Group, Inc		1,329
	3,069		New Work SE		836
	314,241	e	New York Times Co (Class A)		8,950
	99,534		News Corp (Class A)		1,386
	41,679		News Corp (Class B)		596
	362,711	*	Nexon Co Ltd		4,407
	75,717		Nexstar Broadcasting Group, Inc (Class A)		7,747
	39,600	e	Next Co Ltd		259
	4,710	*	NHN Entertainment Corp		245
	963,838		Nine Entertainment Co Holdings Ltd		1,274
	378,394		Nintendo Co Ltd		140,950
	106,809		Nordic Entertainment Group AB		2,526
	206,389	e	Omnicom Group, Inc		16,160
	140,029		oOh!media Ltd		271
	8,900	*	OPT, Inc		135
	29,708	e	Paradox Interactive AB		400
	5,313	*	Pearl Abyss Corp		879
	500,074		Pearson plc		4,535
	3,900		Perfect World Co Ltd		15
	748,000		Phoenix Media Investment Holdings Ltd		62
	810,600		Plan B Media PCL		228
	65,900		Poly Culture Group Corp Ltd		52
	87,250	*	PR Times, Inc		2,323
	425,552	*	Promotora de Informaciones S.A.		608
	241,750		ProSiebenSat. Media AG.		3,331
	44,400		Proto Corp		483
	3,438,600		PT Global MediaCom Tbk		82
	10,755,900		PT Media Nusantara Citra Tbk		936
	1,079,732		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		5,895
	4,290,436		PT Surya Citra Media Tbk		351
	122,692		Publicis Groupe S.A.		6,037
	38,949		PVR Ltd		1,014
	539,625		Quebecor, Inc		12,252
	49,945	*	QuinStreet, Inc		629
	27,600	*,e	Qutoutiao, Inc (ADR)		102
	97,334	g	RAI Way S.p.A		565
	184	e	RCS MediaGroup S.p.A.		0	^
	65,527		REA Group Ltd		4,791
	17,057	*	Reading International, Inc		204
	1,604,211		Rightmove plc		10,854
	20,503	*	Rosetta Stone, Inc		357
	26,447	e,g	Rovio Entertainment Oyj		118
	8,200	*,e	RPA Holdings, Inc		130
	184,800		RS PCL		92
	15,947		RTL Group		767
	4,216		Saga Communications, Inc		125
	140,471		Sanoma-WSOY Oyj		1,568

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,257	*	Saudi Research & Marketing Group	$	367
	3,206		Schibsted ASA (B Shares)		90
	29,544		Scholastic Corp		1,116
	277,691	g	Scout24 AG.		15,830
	281,965		SES Global S.A.		5,140
	94,670		Shanghai Oriental Pearl Group Co Ltd		122
	435,951		Shaw Communications, Inc (B Shares)		8,565
	5,300	e	Shochiku Co Ltd		689
	73,254	*	Sina Corp		2,871
	104,423		Sinclair Broadcast Group, Inc (Class A)		4,463
	1,443,464	e	Singapore Press Holdings Ltd		2,174
	3,810,696	e	Sirius XM Holdings, Inc		23,836
	275,224		Sky Network Television Ltd		193
	69,300		Sky Perfect Jsat Corp		281
	8,995	*	SM Entertainment Co		250
	617,600	*,†,e	SMI Holdings Group Ltd		138
	30,100		Smiles Fidelidade S.A.		275
	356,878	*,e	Snap, Inc		5,639
	314,712		Societe Television Francaise 1		2,762
	39,540		Soft-World International Corp		105
	15,400	*,e	Sohu.com Ltd (ADR)		156
	2,265,839	*,e	Solocal Group		1,803
	1,448,068		Southern Cross Media Group		1,209
	186,822	*	Spotify Technology S.A.		21,298
	45,927		Square Enix Co Ltd		2,233
	31,345	*,e	Stillfront Group AB		825
	17,965	*	Storytel AB		195
	116,586		Stroer Out-of-Home Media AG.		8,877
	2,264,500		T4F Entretenimento S.A.		3,177
	560,267	*	Take-Two Interactive Software, Inc		70,224
	2,018		Tamedia AG.		199
	121,217	*	TechTarget, Inc		2,730
	24,800		Tecmo Koei Holdings Co Ltd		541
	228,162		TEGNA, Inc		3,543
	7,847		Telenet Group Holding NV		370
	190,443		Television Broadcasts Ltd		311
	9,134,292		Tencent Holdings Ltd		382,068
	74,200	*,e	Tencent Music Entertainment (ADR)		948
	1,131,942	*,e	Thomson		979
	29,722	*	THQ Nordic AB		733
	287,000	g	Tian GE Interactive Holdings Ltd		73
	5,300		Toei Animation Co Ltd		241
	18,188		Toei Co Ltd		2,584
	226,055		Toho Co Ltd		9,923
	277,700		Tokyo Broadcasting System, Inc		4,525
	7,037	*	Travelzoo, Inc		75
	99,905		Tribune Publishing Co		857
	209,347	*	TripAdvisor, Inc		8,098
	100,260	*	TrueCar, Inc		341
	132,900		TV Asahi Corp		2,098
	837,100	e	TV Azteca S.A. de C.V.		41
	3,141,710	*	Twitter, Inc		129,438
	64,267	*	Ubisoft Entertainment		4,633
	6,000	*,e	UUUM, Inc		294

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,600	e	ValueCommerce Co Ltd	$	152
	13,400	*	Vector, Inc		112
	32,235	e	Viacom, Inc (Class A)		847
	2,330,377		Viacom, Inc (Class B)		55,999
	367,921		Village Roadshow Ltd		706
	951,680		Vivendi Universal S.A.		26,041
	5,527,732		Walt Disney Co		720,374
	49,848	*	Webzen, Inc		707
	55,656	*,e	Weibo Corp (ADR)		2,491
	4,527		WeMade Entertainment Co Ltd		116
	588,651	*	West Australian Newspapers Holdings Ltd		155
	30,353	*	WideOpenWest, Inc		187
	51,000	*	Wise Talent Information Technology Co Ltd		120
	123,600		Workpoint Entertainment PCL		82
	238,883	e	World Wrestling Entertainment, Inc (Class A)		16,997
	3,600		Wowow, Inc		87
	286,988		WPP AUNZ Ltd		100
	2,212,595		WPP plc		27,705
	8,800		Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd		22
	6,150,332		Yahoo! Japan Corp		17,328
	333,364	*	Yandex NV		11,671
	73,098	*	Yelp, Inc		2,540
	4,918		YG Entertainment, Inc		95
	44,800	*	YY, Inc (ADR)		2,519
	272,128		Zee Entertainment Enterprises Ltd		70
	533,182	*	ZEE Telefilms Ltd		1,999
	19,750		Zenrin Co Ltd		336
	36,300	e	ZIGExN Co Ltd		193
	101,161	*	Zillow Group, Inc (Class A)		2,989
	216,629	*,e	Zillow Group, Inc (Class C)		6,460
	3,150,903	*	Zynga, Inc		18,338
			TOTAL MEDIA & ENTERTAINMENT		7,120,206
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.1%
	1,417,000	*,g	3SBio, Inc		2,343
	4,121,352	n	AbbVie, Inc		312,069
	258,224		Abcam plc		3,639
	35,029	*,e	Abeona Therapeutics, Inc		79
	11,925	*	ABLBio, Inc		168
	620,166	*	Acadia Pharmaceuticals, Inc		22,320
	27,755	*,e	Accelerate Diagnostics, Inc		515
	46,290	*	Acceleron Pharma, Inc		1,829
	80,527	*,e	AcelRx Pharmaceuticals, Inc		177
	10,452	*,e	Acer Therapeutics Inc		33
	571,362	*	Achillion Pharmaceuticals, Inc		2,057
	48,208	*,e	Aclaris Therapeutics, Inc		52
	50,663	*	Acorda Therapeutics, Inc		145
	24,667	*,e	Adamas Pharmaceuticals, Inc		126
	26,393	*	Adaptive Biotechnologies Corp		816
	227,031		Adcock Ingram Holdings Ltd		851
	53,305	*,e	ADMA Biologics, Inc		237
	56,456	*	Adverum Biotechnologies, Inc		308

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	96,532	*,e	Aeglea BioTherapeutics, Inc	$	742
	66,373	*,e	Aerie Pharmaceuticals, Inc		1,276
	257,568	*,e	Affimed NV		757
	117,848	*	Agenus, Inc		304
	23,648	*,e	AgeX Therapeutics, Inc		46
	130,003		Agilent Technologies, Inc		9,962
	86,693	*,e	Agios Pharmaceuticals, Inc		2,809
	47,400	*,e	Aimmune Therapeutics, Inc		993
	47,055		Ajanta Pharma Ltd		671
	14,653	*,e	Akcea Therapeutics, Inc		226
	328,548	*,e	Akebia Therapeutics, Inc		1,288
	8,388	*,e	Akero Therapeutics, Inc		191
	195,327	*	Akorn, Inc		742
	9,761	*	Albireo Pharma, Inc		195
	75,281	*	Alder Biopharmaceuticals, Inc		1,420
	38,878	*	Aldeyra Therapeutics, Inc		205
	31,147	*,e	Alector, Inc		449
	71,082		Alembic Pharmaceuticals Ltd		511
	588,077	*	Alexion Pharmaceuticals, Inc		57,596
	3,645	*	ALK-Abello AS		750
	39,676	*	Alkermes plc		774
	20,590	*,e	Allakos, Inc		1,619
	887,727		Allergan plc		149,396
	443,694		Alliance Pharma plc		393
	210,204	*,e	Allogene Therapeutics, Inc		5,729
	193,140	*	Alnylam Pharmaceuticals, Inc		15,532
	4,174	*	Alteogen, Inc		119
	213,112	*,e	AMAG Pharmaceuticals, Inc		2,461
	1,880,330		Amgen, Inc		363,862
	7,278	*	Amicogen, Inc		136
	1,272,254	*	Amicus Therapeutics, Inc		10,203
	110,085	*	Amneal Pharmaceuticals, Inc		319
	39,119	*	Amphastar Pharmaceuticals, Inc		776
	25,163	*	AnaptysBio, Inc		880
	44,142	*,e	Anavex Life Sciences Corp		139
	62,400	*,e	AnGes MG, Inc		389
	31,373	*	ANI Pharmaceuticals, Inc		2,286
	46,538	*	Anika Therapeutics, Inc		2,554
	2,449	*	Anterogen Co Ltd		79
	49,892	*	Apellis Pharmaceuticals, Inc		1,202
	310,181	*,e	Aphria, Inc		1,611
	2,095	*	Applied Therapeutics, Inc		23
	156,143	*,†	Aratana Therapeutics, Inc		9
	48,644	*	Arcus Biosciences, Inc		443
	126,195	*	Ardelyx, Inc		593
	181,568	*	Arena Pharmaceuticals, Inc		8,310
	35,610	*	Argenx SE		4,041
	780,409	*	Arqule, Inc		5,596
	97,828	*,e	Arrowhead Research Corp		2,757
	46,216	*	Arvinas, Inc		996
	129,000	*,g	Ascletis Pharma, Inc		56
	16,700		ASKA Pharmaceutical Co Ltd		168
	285,420		Aspen Pharmacare Holdings Ltd		1,622
	23,485	*	Assembly Biosciences, Inc		231

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	161,842	*	Assertio Therapeutics, Inc	$	207
	1,919,116		Astellas Pharma, Inc		27,451
	2,640		AstraZeneca Pharma India Ltd		86
	2,850,128		AstraZeneca plc		254,485
	289,037		AstraZeneca plc (ADR)		12,882
	52,379	*	Atara Biotherapeutics, Inc		740
	11,200	*	ATGen Co Ltd		97
	192,324	*,e	Athenex, Inc		2,340
	319,372	*,e	Athersys, Inc		425
	6,680	*	Atreca, Inc		82
	94,225	*	Audentes Therapeutics, Inc		2,647
	82,154	*,e	Aurinia Pharmaceuticals, Inc		438
	510,606		Aurobindo Pharma Ltd		4,248
	702,567	*,e	Aurora Cannabis, Inc		3,086
	5,522,533	*	Avantor, Inc		81,181
	94,552	*	Avid Bioservices, Inc		501
	58,734	*	Avrobio, Inc		829
	27,812	*,e	Axsome Therapeutics, Inc		563
	3,636		Bachem Holding AG.		521
	25,633	*,e	Basilea Pharmaceutica		1,123
	515,353	*	Bausch Health Cos, Inc		11,242
	17,887	*,e	Bavarian Nordic AS		481
	1,298,565		Bayer AG.		91,488
	33,645	*	BeiGene Ltd (ADR)		4,120
	167,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd		252
	53,800		Beijing Tongrentang Co Ltd		203
	10,983	*	Beyondspring Inc		199
	13,707	*	Binex Co Ltd		97
	279,142	*	BioCryst Pharmaceuticals, Inc		800
	374,826	*,e	BioDelivery Sciences International, Inc		1,578
	29,638		Biogaia AB (B Shares)		1,302
	389,585	*	Biogen Idec, Inc		90,703
	370,333	*	Biohaven Pharmaceutical Holding Co Ltd		15,450
	333,421	*	BioMarin Pharmaceutical, Inc		22,473
	30,234	*	Bio-Rad Laboratories, Inc (Class A)		10,060
	13,336	*	Biospecifics Technologies Corp		714
	82,253		Biotage AB		855
	26,514		Bio-Techne Corp		5,188
	265,262	*	Biovitrum AB		4,058
	6,237	*	Bioxcel Therapeutics Inc		44
	166,103	*,e	Bluebird Bio, Inc		15,252
	64,813	*	Blueprint Medicines Corp		4,762
	5,494	e	Boiron S.A.		195
	271,736		Boryung Pharmaceutical Co Ltd		2,734
	23,234	*,e	Bridgebio Pharma, Inc		499
	2,815,836		Bristol-Myers Squibb Co		142,791
	224,735		Bruker BioSciences Corp		9,873
	21,311		Bukwang Pharmaceutical Co Ltd		247
	167,339	*	Calithera Biosciences, Inc		517
	17,635	*,e	Calyxt, Inc		99
	35,443	*	Cambrex Corp		2,109
	11,638	*,e	Camurus AB		102
	164,435	*,e	CannTrust Holdings, Inc		185

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	386,711	*,e	Canopy Growth Corp (Toronto)	$	8,859
	7,761		Caplin Point Laboratories Ltd		47
	86,405	*,e	Cara Therapeutics, Inc		1,579
	238,857	*	CareDx, Inc		5,401
	2,389	†	Caregen Co Ltd		0	^
	52,999	*,e	CASI Pharmaceuticals, Inc		177
	10,589	*	Castle Biosciences, Inc		192
	228,590	*	Catalent, Inc		10,895
	104,466	*,e	Catalyst Pharmaceuticals, Inc		555
	5,923	*	Celcuity, Inc		101
	1,475,664	*	Celgene Corp		146,533
	15,091	*,e	Cellectis S.A.		155
	12,021	*,e	Cellular Biomedicine Group, Inc		179
	27,103	*,e	CEL-SCI Corp		242
	1,926,734		Center Laboratories, Inc		3,695
	22,074	*,e	Cerecor Inc		73
	47,506	*	Charles River Laboratories International, Inc		6,288
	24,137	*,e	Checkpoint Therapeutics Inc		60
	42,133	*	ChemoCentryx, Inc		286
	86,601	*	Chiasma, Inc		429
	337,456	*	Chimerix, Inc		793
	10,235,300	*,†,e	China Animal Healthcare Ltd		13
	348,000	e	China Grand Pharmaceutical and Healthcare Holdings Ltd		183
	2,013,900		China Medical System Holdings Ltd		2,392
	1,521,000	g	China Resources Pharmaceutical Group Ltd		1,423
	15,200		China Resources Sanjiu Medical & Pharmaceutical Co Ltd		62
	538,000		China Shineway Pharmaceutical Group Ltd		469
	12,442		Chong Kun Dang Pharmaceutical Corp		867
	56,200		Chongqing Zhifei Biological Products Co Ltd		374
	5,811		Choongwae Pharma Corp		133
	39,337	*,e	ChromaDex Corp		155
	190,012		Chugai Pharmaceutical Co Ltd		14,849
	301,920	*	Cipla Ltd		1,813
	147,952		Clinigen Group plc		1,570
	35,283		Clinuvel Pharmaceuticals Ltd		589
	201,772	*,e	Clovis Oncology, Inc		793
	50,021	*	CMG Pharmaceutical Co Ltd		114
	65,400	e	CMIC Co Ltd		1,042
	54,506	*	Codexis, Inc		748
	436,121	*	Coherus Biosciences, Inc		8,836
	36,488	*	Collegium Pharmaceutical, Inc		419
	95,462	*	Concert Pharmaceuticals, Inc		561
	17,164	*,e	Constellation Pharmaceuticals, Inc		111
	2,053,000		Consun Pharmaceutical Group Ltd		1,134
	54,193	*,e	Corbus Pharmaceuticals Holdings, Inc		264
	238,230	*	Corcept Therapeutics, Inc		3,367
	33,424	*,†,e	Corium International, Inc		6
	24,207	*	CorMedix Inc		154
	30,628	*,e	Cortexyme Inc		764
	4,045	*,e	COSMO Pharmaceuticals NV		319
	11,693	*,e	Crinetics Pharmaceuticals, Inc		176
	333,883	*,e	Cronos Group, Inc		3,017

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,636	*	CrystalGenomics, Inc	$	180
	661,573		CSL Ltd		104,603
	4,045,961		CSPC Pharmaceutical Group Ltd		8,120
	25,101	*,e	Cue Biopharma, Inc		212
	32,343	*	Cyclerion Therapeutics, Inc		392
	77,913	*	Cymabay Therapeutics, Inc		399
	115,795	*	Cytokinetics, Inc		1,318
	235,239	*	CytomX Therapeutics, Inc		1,736
	6,728		Dae Hwa Pharmaceutical Co Ltd		71
	57,707		Daewon Pharmaceutical Co Ltd		735
	140,145		Daewoong Co Ltd		1,728
	2,197		Daewoong Pharmaceutical Co Ltd		273
	2,189,054		Daiichi Sankyo Co Ltd		138,325
	1,542,000		Dawnrays Pharmaceutical Holdings Ltd		293
	22,956	*,e	DBV Technologies S.A.		394
	422,560		Dechra Pharmaceuticals plc		14,384
	129,111	*,e	Deciphera Pharmaceuticals, Inc		4,382
	51,676	*,e	Denali Therapeutics, Inc		792
	48,104	*,e	Dermira, Inc		307
	154,927	*	Dicerna Pharmaceuticals, Inc		2,225
	164,441		Dishman Carbogen Amcis India Ltd		386
	103,109		Divi S Laboratories Ltd		2,426
	1,480		Dong-A Pharmaceutical Co Ltd		108
	2,431		Dong-A ST Co Ltd		171
	50,200		Dong-E-E-Jiao Co Ltd		214
	24,082		DongKook Pharmaceutical Co Ltd		1,262
	8,544	*	Dongsung Pharmaceutical Co Ltd		118
	10,793	*,e	Dova Pharmaceuticals, Inc		302
	193,008		Dr Reddy’s Laboratories Ltd		7,355
	85,321	*,e	Dynavax Technologies Corp		305
	9,470	*	Eagle Pharmaceuticals, Inc		536
	50,882	*,e	Editas Medicine, Inc		1,157
	11,355	*,e	Eidos Therapeutics, Inc		408
	24,043	*,e	Eiger BioPharmaceuticals, Inc		246
	119,482		Eisai Co Ltd		6,104
	273,273	*	Elanco Animal Health, Inc		7,266
	1,828,180		Eli Lilly & Co		204,445
	34,632	*,e	Eloxx Pharmaceuticals, Inc		157
	47,144	*	Emergent Biosolutions, Inc		2,465
	41,869	*	Enanta Pharmaceuticals, Inc		2,515
	481,426	*	Endo International plc		1,545
	4,068	*,e	Enochian Biosciences Inc		22
	3,059	*	Enzychem Lifesciences Corp		122
	81,166	*,e	Epizyme, Inc		837
	17,500		EPS Co Ltd		208
	41,566	*,g	Eris Lifesciences Ltd		265
	80,546	*,e	Esperion Thereapeutics, Inc		2,953
	152,000		Essex Bio-technology Ltd		99
	8,890	e	Eurofins Scientific		4,134
	1,635	*	Eutilex Co Ltd		70
	15,214	*,e	Evelo Biosciences, Inc		93
	14,618	*,e	Evofem Biosciences Inc		74
	15,463	*,e	Evolus, Inc		242

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	166,431	*	Evotec AG.	$	3,702
	336,130	*	Exact Sciences Corp		30,376
	718,083	*	Exelixis, Inc		12,699
	63,912	*,e	EyePoint Pharmaceuticals Inc		116
	853,877		Faes Farma S.A. (Sigma)		4,360
	53,519	*	Fate Therapeutics, Inc		831
	60,155	*	FDC Ltd		148
	204,788	*	FibroGen, Inc		7,573
	217,762	*	Five Prime Therapeutics, Inc		844
	36,970	*,e	Flexion Therapeutics, Inc		507
	327,814	*	Fluidigm Corp		1,518
	62,123	*	Forty Seven, Inc		399
	6,700		Fuji Pharma Co Ltd		82
	4,689	*	Fulcrum Therapeutics, Inc		31
	35,114	*	G1 Therapeutics, Inc		800
	42,833	*	Galapagos NV		6,527
	49,832	*,e	Galectin Therapeutics, Inc		183
	6,394	*	Genexine Co Ltd		271
	19,679	*,e	Genfit		315
	55,389	*	Genmab AS		11,254
	87,727	*	Genomic Health, Inc		5,950
	312,400	*	Genomma Lab Internacional S.A. de C.V.		300
	904,000	*	Genscript Biotech Corp		1,733
	37,589		Genus plc		1,294
	183,690	*,e	Geron Corp		244
	77,917		Gerresheimer AG.		5,587
	3,750,359		Gilead Sciences, Inc		237,698
	2,632,724		GlaxoSmithKline plc		56,431
	145,381		Glenmark Pharmaceuticals Ltd		667
	92,451	*	Global Blood Therapeutics, Inc		4,486
	35,215	*,e	GlycoMimetics, Inc		152
	22,800	*,e	GNI Group Ltd		405
	75,646	*	Gossamer Bio, Inc		1,270
	564,828		Granules India Ltd		836
	2,778		Green Cross Cell Corp		87
	2,743		Green Cross Corp		260
	10,206		Green Cross Holdings Corp		178
	2,824		Green Cross LabCell Corp		76
	91,038	*,e	Green Organic Dutchman Holdings Ltd		139
	350,685		Grifols S.A.		10,338
	26,203	*,e	Gritstone Oncology, Inc		226
	49,100		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		239
	8	*	GW Pharmaceuticals plc		0	^
	77,122	*,e	GW Pharmaceuticals plc (ADR)		8,871
	112,843		H Lundbeck AS		3,741
	624,049	*	Halozyme Therapeutics, Inc		9,679
	13,897	*	Han All Pharmarceutical Co		303
	2,699		Handok Pharmaceuticals Co Ltd		47
	78,150		Hangzhou Tigermed Consulting Co Ltd		679
	20,655		Hanmi Pharm Co Ltd		4,759
	14,066		Hanmi Science Co Ltd		465
	20,679	*,e	Hansa Medical AB		272
	9,650	*,e	Harpoon Therapeutics, Inc		132

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,700	*,e	HEALIOS KK	$	116
	77,594	*,e	Heron Therapeutics, Inc		1,435
	282,344	*,e	HEXO Corp		1,115
	679,760		Hikma Pharmaceuticals plc		18,376
	78,776		Hisamitsu Pharmaceutical Co, Inc		3,468
	24,914	*,e	Homology Medicines, Inc		451
	772,606	*	Horizon Pharma plc		21,038
	2,548,684	*,†	Hua Han Bio-Pharmaceutical Holdings Ltd		20
	1,146	*	Hugel, Inc		369
	8,963		Huons Co Ltd		317
	63,300	*	Hutchison China MediTech Ltd (ADR)		1,129
	334,267		Hypermarcas S.A.		2,698
	98,835	*,e	Idorsia Ltd		2,431
	94,697		Il Dong Pharmaceutical Co Ltd		1,211
	632,348	*	Illumina, Inc		192,373
	5,481	*	Ilyang Pharmaceutical Co Ltd		92
	155,980	*	Immunogen, Inc		377
	180,120	*,e	Immunomedics, Inc		2,388
	318,296	*	Incyte Corp		23,627
	406,532	*	Indivior plc		243
	31,164	*,e	Innate Pharma S.A.		238
	328,335	*	Innoviva, Inc		3,461
	93,010	*,e	Inovio Pharmaceuticals, Inc		191
	198,403	*,e	Insmed, Inc		3,500
	40,541	*,e	Intellia Therapeutics, Inc		541
	39,612	*,e	Intercept Pharmaceuticals, Inc		2,629
	141,150	*	Intersect ENT, Inc		2,401
	44,367	*,e	Intra-Cellular Therapies, Inc		331
	75,014	*,e	Intrexon Corp		429
	10,813	*	iNtRON Biotechnology, Inc		102
	215,413	*,e	Invitae Corp		4,151
	217,929	*	Ionis Pharmaceuticals, Inc		13,056
	120,029	*	Iovance Biotherapeutics, Inc		2,185
	65,838		Ipca Laboratories Ltd		839
	15,784		Ipsen		1,497
	852,115	*	IQVIA Holdings, Inc		127,289
	402,548	*	Ironwood Pharmaceuticals, Inc		3,456
	10,100	*	Japan Tissue Engineering Co Lt		81
	848,406	*	Jazz Pharmaceuticals plc		108,715
	8,000		JCR Pharmaceuticals Co Ltd		616
	2,361		Jeil Pharmaceutical Co Ltd		60
	198,860		Jiangsu Hengrui Medicine Co Ltd		2,249
	6,174,987		Johnson & Johnson		798,920
	36,846	*	Jounce Therapeutics, Inc		123
	163,408		Jubilant Organosys Ltd		1,166
	175,591		JW Holdings Corp		859
	149,909	*,e	Kadmon Holdings, Inc		378
	27,400		Kaken Pharmaceutical Co Ltd		1,274
	38,359	*,e	Kala Pharmaceuticals, Inc		146
	5,250	*,e	Kaleido Biosciences Inc		40
	11,952	*	KalVista Pharmaceuticals Inc		139
	59,697		Karo Pharma AB		228
	8,777	*	Karuna Therapeutics, Inc		143

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,593	*,e	Karyopharm Therapeutics, Inc	$	602
	31,494	*	Kezar Life Sciences, Inc		103
	35,182	*	Kindred Biosciences, Inc		241
	15,925	*,e	Kiniksa Pharmaceuticals Ltd		136
	15,700		Kissei Pharmaceutical Co Ltd		380
	149,705	*	Knight Therapeutics, Inc		840
	72,841	*	Kodiak Sciences, Inc		1,047
	18,697	*	Komipharm International Co Ltd		191
	63,775		Korea United Pharm Inc		1,031
	10,724	*,e	Krystal Biotech Inc		372
	49,724	*,e	Kura Oncology, Inc		754
	12,409		Kwang Dong Pharmaceutical Co Ltd		70
	24,236		Kyorin Co Ltd		402
	120,963		Kyowa Hakko Kogyo Co Ltd		2,356
	24,567	*,e	La Jolla Pharmaceutical Co		216
	85,169		Laboratorios Almirall S.A.		1,490
	32,647	*,e	Lannett Co, Inc		366
	15,521	g	Laurus Labs Ltd		82
	107,000		Lee’s Pharmaceutical Holdings Ltd		60
	3,663	*	LegoChem Biosciences, Inc		147
	46,430	*,e	Lexicon Pharmaceuticals, Inc		140
	53,073	*,e	Ligand Pharmaceuticals, Inc (Class B)		5,283
	748,850	*,e	Lineage Cell Therapeutics, Inc		734
	5,800	e	Linical Co Ltd		53
	14,938	*	Liquidia Technologies, Inc		53
	9,965	*,e	LogicBio Therapeutics, Inc		108
	593,818		Lonza Group AG.		200,954
	41,000	*	Lotus Pharmaceutical Co Ltd		131
	105,281		Luminex Corp		2,174
	168,701	*	Lupin Ltd		1,704
	1,353,000	e,g	Luye Pharma Group Ltd		965
	163,753	*	MacroGenics, Inc		2,089
	8,455	*,e	Madrigal Pharmaceuticals, Inc		729
	21,657	*	Magenta Therapeutics, Inc		222
	365	*,e	Mallinckrodt plc		1
	193,122	*,e	MannKind Corp		241
	179,880	*,e	Marinus Pharmaceuticals, Inc		277
	27,790	*,e	Marker Therapeutics Inc		142
	805,231	*	Mayne Pharma Group Ltd		283
	150,310	*,e	Medicines Co		7,516
	42,421	*,e	MediciNova, Inc		337
	121,278	*	Medpace Holdings, Inc		10,192
	4,153		Medy-Tox, Inc		1,249
	159,600		Mega Lifesciences PCL		163
	70,195	*	MEI Pharma, Inc		118
	19,744	*	MeiraGTx Holdings plc		315
	23,919	*	Menlo Therapeutics, Inc		107
	8,529,576		Merck & Co, Inc		718,020
	47,675		Merck KGaA		5,371
	2,005		Merck Ltd		133
	40,721	*	Mersana Therapeutics, Inc		64
	241,847	*,e	Mesoblast Ltd		346
	43,765	*	Mettler-Toledo International, Inc		30,828
	3,112	*	Mezzion Pharma Co Ltd		321

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,724	*,e	Millendo Therapeutics Inc	$	69
	123,334	*	Minerva Neurosciences, Inc		956
	40,484	*	Mirati Therapeutics, Inc		3,154
	2,709	*	Mirum Pharmaceuticals, Inc		27
	9,330	*,e	Mithra Pharmaceuticals S.A.		302
	14,800		Mochida Pharmaceutical Co Ltd		568
	330,948	*,e	Moderna, Inc		5,269
	5,649	*,e	Molecular Partners AG.		99
	19,798	*	Molecular Templates, Inc		130
	102,355	*	Momenta Pharmaceuticals, Inc		1,327
	5,054	*,e	Morphic Holding, Inc		92
	22,670	*	Morphosys AG.		2,499
	118,830	*,e	Mustang Bio, Inc		387
	1,313,427	*	Mylan NV		25,980
	53,470	*	MyoKardia, Inc		2,788
	83,456	*	Myriad Genetics, Inc		2,389
	154,279	*	NanoString Technologies, Inc		3,331
	124,781		Natco Pharma Ltd		1,025
	391,440	*	Natera, Inc		12,839
	51,685	*,e	Nektar Therapeutics		941
	364,115	*,e	NeoGenomics, Inc		6,962
	37,098	*,e	Neon Therapeutics, Inc		64
	305,451	*	Neurocrine Biosciences, Inc		27,524
	44,257	*,e	NextCure Inc		1,365
	13,818	*,e	NGM Biopharmaceuticals Inc		191
	127,750	e	Nichi-iko Pharmaceutical Co Ltd		1,427
	27,900		Nippon Shinyaku Co Ltd		2,358
	26,028	*,e	Nordic Nanovector ASA		84
	2,282,981		Novartis AG.		198,133
	32,757	*,e	Novavax, Inc		164
	3,858,820		Novo Nordisk AS		199,409
	57,963	*	OBI Pharma, Inc		260
	95,590	*,e	Ocular Therapeutix, Inc		291
	11,863	*,e	Odonate Therapeutics, Inc		309
	47,868	*,e	Omeros Corp		782
	30,415	*,e	Oncocyte Corp		64
	90,597	*,e,g	Oncopeptides AB		1,073
	91,282		Ono Pharmaceutical Co Ltd		1,662
	385,399	*,e	Opko Health, Inc		805
	25,034	*,e	Optinose, Inc		175
	10,839	*	Organogenesis Holdings Inc		71
	55,704		Orion Oyj (Class B)		2,076
	9,513	*	Oscotec, Inc		151
	273,486		Otsuka Holdings KK		10,274
	28,948	*	Oxford Biomedica plc		192
	143,989	*	Pacific Biosciences of California, Inc		743
	377,808	*	Pacira Pharmaceuticals, Inc		14,383
	2,613,590	*	Paion AG.		6,438
	193,525	*,e	Palatin Technologies, Inc		176
	36,946	*,e	Paratek Pharmaceuticals, Inc		160
	123,128	*,e	PDL BioPharma, Inc		266
	142,289	*,e	PeptiDream, Inc		6,801
	6,365	*	Peptron, Inc		64

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	164,969		PerkinElmer, Inc	$	14,050
	100,367		Perrigo Co plc		5,610
	25,353	*	Personalis, Inc		372
	31,780	*	Pfenex, Inc		268
	13,301		Pfizer Ltd		630
	11,608,186		Pfizer, Inc		417,082
	178,559	*,e	Pharma Mar S.A.		355
	2,175		PHARMA RESEARCH PRODUCTS Co Ltd		58
	2,750	*	PharmAbcine		81
	41,472		PharmaEngine Inc		104
	73,000	*	PharmaEssentia Corp		263
	25,902		Pharmally International Holding Co Ltd		177
	26,420	*	Pharmicell Co Ltd		157
	1,085,299	*,e	Pharming Group NV		1,461
	17,786	*,e	PhaseBio Pharmaceuticals Inc		74
	108,082		Phibro Animal Health Corp		2,305
	80,496	*	Pieris Pharmaceuticals, Inc		274
	75,322		Piramal Healthcare Ltd		1,739
	27,176	*,e	PolarityTE, Inc		88
	78,494	*,e	Portola Pharmaceuticals, Inc		2,105
	207,410	*	PRA Health Sciences, Inc		20,581
	9,394	*,e	Precision BioSciences Inc		79
	52,085	*	Prestige Consumer Healthcare, Inc.		1,807
	12,902	*	Prevail Therapeutics, Inc		158
	27,428	*,e	Principia Biopharma, Inc		775
	5,551	*,e	Probi AB		171
	85,262	*	Progenics Pharmaceuticals, Inc		431
	63,953	*,e	ProQR Therapeutics NV		368
	12,684	*	Prostemics Co Ltd		40
	61,308	*,e	Protagonist Therapeutics, Inc		736
	112,084	*	Prothena Corp plc		879
	34,866,631		PT Kalbe Farma Tbk		4,110
	127,195	*	PTC Therapeutics, Inc		4,302
	213,060	*,e	Puma Biotechnology, Inc		2,294
	314,352	*	QIAGEN NV		10,364
	127,692	*	QIAGEN NV (Turquoise)		4,182
	34,820	*,e	Quanterix Corp		765
	71,086	*	Ra Pharmaceuticals, Inc		1,681
	300,032	*	Radius Health, Inc		7,726
	74,817	*,e	Reata Pharmaceuticals, Inc		6,007
	25,787		Recipharm AB		346
	166,878		Recordati S.p.A.		7,157
	30,154	*	Recro Pharma, Inc		334
	25,453	*	Regeneron Pharmaceuticals, Inc		7,061
	77,236	*	REGENXBIO, Inc		2,750
	114,982	*	Repligen Corp		8,818
	12,263	*,e	Replimune Group, Inc		170
	17,014	*,e	resTORbio, Inc		150
	43,900	*	Retrophin, Inc		509
	46,493	*	Revance Therapeutics, Inc		604
	2,744		Reyon Pharmaceutical Co Ltd		29
	23,594	*,e	Rhythm Pharmaceuticals, Inc		509
	116,444		Richter Gedeon Rt		1,884
	180,448	*	Rigel Pharmaceuticals, Inc		337

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,139,572		Roche Holding AG.	$	331,803
	30,489	*,e	Rocket Pharmaceuticals, Inc		355
	37,138	*,e	Rubius Therapeutics, Inc		292
	153,680	*	Sage Therapeutics, Inc		21,560
	6,336		Sam Chun Dang Pharm Co Ltd		180
	60,496		Samjin Pharmaceutical Co Ltd		1,272
	15,334	*,g	Samsung Biologics Co Ltd		3,936
	17,100	*,e	SanBio Co Ltd		714
	251,201	*	Sangamo Biosciences, Inc		2,273
	6,633		Sanofi India Ltd		550
	2,364,933		Sanofi-Aventis		219,070
	583,851		Sanofi-Aventis S.A. (ADR)		27,050
	879,893		Santen Pharmaceutical Co Ltd		15,377
	134,567	*,e	Sarepta Therapeutics, Inc		10,136
	57,190		Sartorius Stedim Biotech		7,999
	26,707		Saudi Pharmaceutical Industries & Medical Appliances Corp		187
	189,800		Sawai Pharmaceutical Co Ltd		9,820
	20,687	*,e	Scholar Rock Holding Corp		185
	96,960		Scinopharm Taiwan Ltd		74
	24,895		Searle Co Ltd		22
	286,980	*	Seattle Genetics, Inc		24,508
	8,831	*	Seegene, Inc		151
	22,000		Seikagaku Corp		232
	122,394	*,e	Seres Therapeutics, Inc		491
	98,500		Shandong Buchang Pharmaceuticals Co Ltd		263
	130,400		Shanghai Fosun Pharmaceutical Group Co Ltd		462
	1,364,251		Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		3,663
	119,000		Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		82
	217,100		Shanghai Haixin Group Co		89
	111,300	g	Shanghai Haohai Biological Technology Co Ltd		536
	29,900		Shenzhen Kangtai Biological Products Co Ltd		311
	78,700		Shenzhen Salubris Pharmaceuticals Co Ltd		206
	14,815		Shilpa Medicare Ltd		58
	182,419		Shionogi & Co Ltd		10,170
	58,700		Sichuan Kelun Pharmaceutical Co Ltd		213
	14,414		Siegfried Holding AG.		5,673
	55,764	*,e	SIGA Technologies, Inc		286
	3,421,000		Sihuan Pharmaceutical Holdings		519
	65,943	*,e	SillaJen, Inc		448
	8,014,307		Sino Biopharmaceutical		10,176
	35,736	*,e	Solid Biosciences, Inc		370
	207,918	*,e	Sorrento Therapeutics, Inc		445
	39,700	*,e	Sosei Group		895
	56,123	*	Spark Therapeutics, Inc		5,443
	115,850	*	Spectrum Pharmaceuticals, Inc		961
	27,353	*	Spero Therapeutics, Inc		290
	3,586,000		SSY Group Ltd		2,832
	4,036		ST Pharm Co Ltd		59
	10,956	*	STCUBE		98
	46,946	*	Stemline Therapeutics, Inc		489

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,284	*	Stoke Therapeutics, Inc	$	200
	254,346		Strides Arcolab Ltd		1,106
	37,491	*,e	Strongbridge Biopharma plc		90
	90,587		Sumitomo Dainippon Pharma Co Ltd		1,499
	29,850	*	Sun Pharma Advanced Research Company Ltd		53
	747,289		Sun Pharmaceutical Industries Ltd		4,113
	170,410	*	Supernus Pharmaceuticals, Inc		4,683
	12,279	*,e	Sutro Biopharma, Inc		112
	142,750		Suven Life Sciences Ltd		561
	102,688	*	Syndax Pharmaceuticals, Inc		767
	176,176	*	Syneos Health, Inc		9,374
	43,893	g	Syngene International Ltd		192
	50,879	*	Synlogic, Inc		117
	11,811	*,e	Synthorx, Inc		192
	36,417	*,e	Syros Pharmaceuticals, Inc		378
	134,799	*	Taigen Biopharmaceuticals Holdings Ltd		75
	169,000	*	TaiMed Biologics, Inc		810
	72,401	e	Taisho Pharmaceutical Holdings Co Ltd		5,294
	101,100		Takara Bio, Inc		2,066
	949,320		Takeda Pharmaceutical Co Ltd		32,577
	4,308	e	Takeda Pharmaceutical Co Ltd (ADR)		74
	77,686		Tanabe Seiyaku Co Ltd		856
	41,963	*	Tanvex BioPharma, Inc		88
	89,600		Tasly Pharmaceutical Group Co Ltd		196
	11,934	*,e	TCR2 Therapeutics Inc		179
	6,783		Tecan Group AG.		1,621
	1,672	*	Tego Science, Inc		32
	1,328,846	*,e	Teva Pharmaceutical Industries Ltd (ADR)		9,142
	83,620	*,e	TG Therapeutics, Inc		470
	12,557	*	Theragen Etex Co Ltd		76
	201,786	*,e	TherapeuticsMD, Inc		732
	89,567	*,e	Theratechnologies, Inc		387
	93,877	*,e	Theravance Biopharma, Inc		1,829
	552,562		Thermo Fisher Scientific, Inc		160,945
	70,342	*,e	Tocagen, Inc		47
	714,000		Tong Ren Tang Technologies Co Ltd		649
	95,200		Tonghua Dongbao Pharmaceutical Co Ltd		233
	47,700		Torii Pharmaceutical Co Ltd		1,274
	208,100		Towa Pharmaceutical Co Ltd		4,841
	29,676	*,e	Translate Bio, Inc		294
	22,520	*	Tricida, Inc		695
	32,600		Tsumura & Co		876
	135,917		TTY Biopharm Co Ltd		347
	6,790	*,e	Turning Point Therapeutics Inc		255
	45,221	*	Twist Bioscience Corp		1,080
	86,355	*,e	Tyme Technologies, Inc		103
	19,617		UCB S.A.		1,423
	69,373	*	Ultragenyx Pharmaceutical, Inc		2,968
	3,757,500	e	United Laboratories Ltd		1,972
	110,784	*	United Therapeutics Corp		8,835
	27,155	*,e	UNITY Biotechnology, Inc		166
	33,346	*,e	UroGen Pharma Ltd		795
	420,436	*	Vanda Pharmaceuticals, Inc		5,583
	86,687	*,e	VBI Vaccines, Inc		41

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	343,001	*	Vectura Group plc	$	362
	499,906	*	Veracyte, Inc		11,998
	226,646	*	Vericel Corp		3,431
	16,640	*,e	Verrica Pharmaceuticals, Inc		246
	541,290	*	Vertex Pharmaceuticals, Inc		91,705
	70,244		Vifor Pharma AG.		11,227
	231,436	*,e	Viking Therapeutics, Inc		1,592
	8,174	*	Virbac S.A.		1,871
	18,867	*,e	ViroMed Co Ltd		1,046
	187,110		Vitrolife AB		3,059
	212,216	*	Voyager Therapeutics, Inc		3,652
	128,300		Walvax Biotechnology Co Ltd		486
	20,291	*	Waters Corp		4,530
	24,694	*,e	WaVe Life Sciences Pte Ltd		507
	55,143		Whanin Pharmaceutical Co Ltd		729
	2,770,000		Winteam Pharmaceutical Group Ltd		1,271
	11,959	*	Wockhardt Ltd		43
	67,300		WuXi AppTec Co Ltd		818
	652,119	e,g	WuXi AppTec Co Ltd (Hong Kong)		7,123
	1,814,550	*,g	Wuxi Biologics Cayman, Inc		18,503
	12,376	*	X4 Pharmaceuticals, Inc		157
	22,906	*,e	XBiotech, Inc		240
	121,583	*	Xencor, Inc		4,101
	28,879	*	Xeris Pharmaceuticals, Inc		284
	572,400	g	YiChang HEC ChangJiang Pharmaceutical Co Ltd		2,796
	20,930	*	Y-mAbs Therapeutics, Inc		545
	6,960		Yuhan Corp		1,328
	43,760	*	Yungjin Pharmaceutical Co Ltd		171
	347,000		YungShin Global Holding Corp		470
	48,100		Yunnan Baiyao Group Co Ltd		513
	17,500	*	Zai Lab Ltd (ADR)		566
	16,698	*	Zealand Pharma AS		425
	35,500	e	Zeria Pharmaceutical Co Ltd		626
	19,400		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		277
	165,614	*,e	ZIOPHARM Oncology, Inc		709
	2,179,523		Zoetis, Inc		271,547
	44,809	*,e	Zogenix, Inc		1,794
	29,458	*,e	Zynerba Pharmaceuticals, Inc		223
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		7,950,620
REAL ESTATE - 4.1%
	530,953		Abacus Property Group		1,405
	87,478		Acadia Realty Trust		2,500
	934		Activia Properties Inc		4,771
	29,758		ADLER Real Estate AG.		375
	7,843	*	ADO Group Ltd		215
	31,543	g	ADO Properties S.A.		1,300
	1,020	*	Advance Residence Investment Corp		3,350
	450,849	*,g	Aedas Homes SAU		10,343
	14,161		Aedifica S.A.		1,638
	122,411		Aeon Mall Co Ltd		1,937
	5,351	*	AEON REIT Investment Corp		7,369
	1	*	Africa Israel Investments Ltd		0	^

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,687	*	Africa Israel Properties Ltd	$	443
	1,162,000		Agile Property Holdings Ltd		1,412
	152,579		Agree Realty Corp		11,161
	134,925	*	Airport City Ltd		2,629
	3,201,133	*	Aldar Properties PJSC		1,824
	363,569		Alexander & Baldwin, Inc		8,911
	2,238		Alexander’s, Inc		780
	256,065		Alexandria Real Estate Equities, Inc		39,444
	172,537		Aliansce Sonae Shopping Centers sa		1,640
	364,149		Allco Commercial Real Estate Investment Trust		424
	111,946		Allied Properties Real Estate Investment Trust		4,527
	13,851		Allreal Holding AG.		2,663
	139,609		Alony Hetz Properties & Investments Ltd		2,049
	501,291		Alstria Office REIT-AG.		8,600
	6,329	*,e	Altisource Portfolio Solutions S.A.		128
	51,061	e	Altus Group Ltd		1,540
	366,300		Amata Corp PCL (Foreign)		300
	100,902		American Assets Trust, Inc		4,716
	348,524		American Campus Communities, Inc		16,757
	109,888	e	American Finance Trust, Inc		1,534
	888,040		American Homes 4 Rent		22,991
	3,027	*,e	American Realty Investors, Inc		47
	1,002,288		American Tower Corp		221,636
	399,388	e	Americold Realty Trust		14,805
	183,692		Amot Investments Ltd		1,363
	13,023,500		Ananda Development PCL (Foreign)		1,328
	99,567	e	Apartment Investment & Management Co		5,191
	74,104		Apple Hospitality REIT, Inc		1,229
	695,128		Argosy Property Ltd		638
	90,185		Armada Hoffler Properties, Inc		1,631
	1,576,177		Aroundtown S.A.		12,892
	33,551		Arriyadh Development Co		135
	94,643		Artis Real Estate Investment Trust		899
	446,500		Ascendas Hospitality Trust		352
	1,602,192		Ascendas REIT		3,618
	6,769,291		Ascott Residence Trust		6,465
	164,547		Ashford Hospitality Trust, Inc		545
	10,235,160		Asian Property Development PCL (Foreign)		2,260
	1,381,164		Assura Group Ltd		1,211
	2,571,157		Attacq Ltd		2,088
	445,558		AvalonBay Communities, Inc		95,942
	154,565		Aventus Retail Property Fund Ltd		277
	238,468		Aveo Group		343
	12,488,915		Ayala Land, Inc		11,919
	4,761,352	*,†	AZ BGP Holdings		13
	44,268		Azrieli Group		3,488
	5,144,200		Bangkok Land PCL		247
	1,684,880	*	Barwa Real Estate Co		1,551
	1,618		Bayside Land Corp		1,034
	22,905		Befimmo SCA Sicafi		1,408
	4,600,000	e	Beijing Capital Land Ltd		1,520
	978,000		Beijing North Star Co		295
	2,602		Big Shopping Centers Ltd		237
	444,243		Big Yellow Group plc		5,675

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,062		BLife Investment Corp	$	22,681
	2,741		Blue Square Real Estate Ltd		131
	133,295		Bluerock Residential Growth REIT, Inc		1,569
	44,426		Boardwalk REIT		1,489
	500,449		Boston Properties, Inc		64,888
	629,862		BR Malls Participacoes S.A.		2,184
	53,308		BR Properties S.A.		151
	1,457	*	Brack Capital Properties NV		168
	33,610		BraeMar Hotels & Resorts, Inc		316
	61,212		Brandywine Realty Trust		927
	713,745		British Land Co plc		5,135
	76,059		Brixmor Property Group, Inc		1,543
	618		Brookfield Property Partners LP		13
	119,164		Brookfield Property REIT, Inc		2,430
	35,128		Brt Realty Trust		512
	800,510		Bunnings Warehouse Property Trust		2,135
	93,000		C&D International Investment Group Ltd		96
	54,008		CA Immobilien Anlagen AG.		1,916
	2,695,420		Cache Logistics Trust		1,444
	1,114,851		Cambridge Industrial Trust		428
	390,434		Camden Property Trust		43,342
	156,353		Canadian Apartment Properties REIT		6,428
	1,817,242		CapitaCommercial Trust		2,723
	692,196		Capital & Counties Properties		2,002
	3,760,315		CapitaLand Ltd		9,612
	2,324,247		CapitaMall Trust		4,425
	3,065,673	e	CapitaRetail China Trust		3,395
	272,913		CareTrust REIT, Inc		6,415
	380,384		Castellum AB		8,144
	54,401		CatchMark Timber Trust, Inc		580
	336,900		Cathay Real Estate Development Co Ltd		223
	177,613	e	CBL & Associates Properties, Inc		229
	587,746	*	CBRE Group, Inc		31,156
	431,220		CDL Hospitality Trusts		512
	657,373		Cedar Realty Trust, Inc		1,972
	45,414		Cedar Woods Properties Ltd		213
	385,000		Central China Real Estate Ltd		163
	1,967,758		Central Pattana PCL (Foreign)		4,377
	396,796		Centuria Industrial REIT		865
	1,172,806		Champion Real Estate Investment Trust		759
	141,051		Charter Hall Education Trust		339
	2,198,538		Charter Hall Group		17,291
	170,929		Charter Hall Long Wale REIT		661
	47,070		Chatham Lodging Trust		854
	3,690,722		Cheuk Nang Holdings Ltd		1,794
	1,875,000		China Aoyuan Group Ltd		2,124
	1,357,525	*,e	China Dili Group		465
	2,100,663	e	China Evergrande Group		4,476
	98,800		China Fortune Land Development Co Ltd		374
	397,000	*,g	China Logistics Property Holdings Co Ltd		157
	418,000		China Merchants Land Ltd		58
	272,200		China Merchants Shekou Industrial Zone Holdings Co Ltd		725

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,385,021		China New Town Development Co Ltd	$	170
	4,516,000		China Overseas Grand Oceans Group Ltd		2,052
	7,198,018		China Overseas Land & Investment Ltd		22,646
	605,000		China Overseas Property Holdings Ltd		299
	2,873,644		China Resources Land Ltd		12,037
	15,214,400		China SCE Group Holdings Ltd		7,011
	2,070,000		China South City Holdings Ltd		246
	1,543,015		China Vanke Co Ltd		5,370
	453,600		China Vanke Co Ltd (Class A)		1,650
	150,000	g	China Vast Industrial Urban Development Co Ltd		60
	839,000		Chinese Estates Holdings Ltd		598
	226,500	e	Chip Eng Seng Corp Ltd		102
	117,088		Chong Hong Construction Co		300
	2,631,039		CIFI Holdings Group Co Ltd		1,538
	1,351		CIM Commercial Trust Corp		21
	283,844		City Developments Ltd		2,019
	436,654		City Office REIT, Inc		6,283
	60,176	e	Citycon OYJ		631
	367,925		Civitas Social Housing plc		392
	2,842,546		CK Asset Holdings Ltd		19,258
	15,299	e	Clipper Realty, Inc		156
	20,129		Cofinimmo		2,835
	52,456		Colliers International Group, Inc		3,940
	797,289		Colony Capital, Inc		4,800
	145,000		Colour Life Services Group		72
	219,502		Columbia Property Trust, Inc		4,642
	683	*	Comforia Residential REIT, Inc		2,192
	118,683		Cominar Real Estate Investment Trust		1,180
	18,396		Community Healthcare Trust, Inc		820
	701,600		Concentradora Fibra Danhos S.A. de C.V.		977
	415,900	g	Concentradora Fibra Hotelera Mexicana S.A. de C.V.		194
	23,003		Consolidated-Tomoka Land Co		1,509
	53,895	*	Consus Real Estate AG.		376
	553,797		CoreCivic, Inc		9,570
	13,432	e	CorEnergy Infrastructure Trust, Inc		634
	45,290		CorePoint Lodging, Inc		458
	99,273		Coresite Realty		12,096
	77,751	e	Corestate Capital Holding S.A.		2,864
	1,806,336		Corp Inmobiliaria Vesta SAB de C.V.		2,774
	95,583		Corporate Office Properties Trust		2,846
	6,633,391		Country Garden Holdings Co Ltd		8,402
	290,884		Cousins Properties, Inc		10,934
	2,488	*	CRE Logistics REIT, Inc		3,104
	898	*	Crescendo Investment Corp		1,156
	14,300	*,e	Cresud S.A. (ADR)		85
	55,955		Crombie Real Estate Investment Trust		667
	1,661,179		Cromwell Group		1,424
	841,630		Crown Castle International Corp		116,995
	2,938,943		CSI Properties Ltd		97
	57,415		CT Real Estate Investment Trust		651
	225,963		CubeSmart		7,886
	238,084	*	Cushman & Wakefield plc		4,412
	208,756		Custodian Reit plc		302
	355,335		CyrusOne, Inc		28,107

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,035	*	D Carnegie & Co AB	$	460
	646	*	DA Office Investment Corp		5,016
	49,900		Daibiru Corp		513
	28,277	e	Daito Trust Construction Co Ltd		3,622
	531,727		Daiwa House Industry Co Ltd		17,284
	446,018	*	Dar Al Arkan Real Estate Development Co		1,419
	90,796		Derwent London plc		3,765
	169,144		Deutsche Annington Immobilien SE		8,582
	38,694		Deutsche Euroshop AG.		1,091
	126,429		Deutsche Wohnen AG.		4,615
	371,000	*	Dexin China Holdings Co Ltd		154
	1,171,465		Dexus Property Group		9,436
	1,060,662	*	Deyaar Development PJSC		94
	213,702		DiamondRock Hospitality Co		2,190
	64,112		DIC Asset AG.		821
	283,842		Digital Realty Trust, Inc		36,846
	344,337		Dios Fastigheter AB		3,004
	242,657		Dongwon Development Co Ltd		893
	635,030	*	DoubleDragon Properties Corp		250
	495,849		Douglas Emmett, Inc		21,237
	251,249		Dream Global REIT		3,152
	74,110		Dream Industrial Real Estate Investment Trust		740
	35,893		Dream Office Real Estate Investment Trust		802
	93,814		Dream Unlimited Corp		677
	789,211		Duke Realty Corp		26,809
	268,902		Easterly Government Properties, Inc		5,728
	307,913		Eastern & Oriental BHD		49
	155,330		EastGroup Properties, Inc		19,419
	449,700	*	Eco World Development Group BHD		70
	404,200	*	Eco World International BHD		63
	517,915	*	Emaar Development PJSC		582
	245,075	*	Emaar Economic City		648
	2,057,342	*	Emaar Malls Group PJSC		1,053
	6,702,432		Emaar Properties PJSC		8,425
	1,502,421		Emira Property Fund Ltd		1,222
	797,850		Emlak Konut Gayrimenkul Yatiri		196
	983,333		Emperor International Holdings		217
	47,609		Empire State Realty Trust, Inc		679
	328,205		Empiric Student Property plc		376
	27,339		Entertainment Properties Trust		2,101
	265,948	g	Entra ASA		4,171
	156,818		Equinix, Inc		90,453
	801,674		Equites Property Fund Ltd		1,085
	148,038		Equity Commonwealth		5,070
	434,334		Equity Lifestyle Properties, Inc		58,027
	770,621		Equity Residential		66,474
	620,226	*	Eshraq Properties Co PJSC		67
	418,454		Essential Properties Realty Trust, Inc		9,587
	207,933		Essex Property Trust, Inc		67,921
	36,458		Eurocommercial Properties NV		1,016
	16,440	*,e	eXp World Holdings Inc		138
	398,550		Extra Space Storage, Inc		46,559

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	277,941		Fabege AB	$	4,579
	7,137,500		Fantasia Holdings Group Co Ltd		1,101
	9,114,269		Far East Consortium		3,858
	461,200		Far East Hospitality Trust		230
	339,812		Farglory Land Development Co Ltd		400
	34,479	e	Farmland Partners, Inc		230
	183,151	*	Fastighets AB Balder		6,934
	278,107		Federal Realty Investment Trust		37,861
	6,864,406		Fibra Uno Administracion S.A. de C.V.		10,032
	4,522,000		Filinvest Land, Inc		137
	72,600		Financial Street Holdings Co Ltd		78
	236,152		First Capital Realty, Inc		3,934
	313,312		First Industrial Realty Trust, Inc		12,395
	593,170		First Real Estate Investment Trust		433
	48,638		FirstService Corp		4,987
	35,852		Fonciere Des Regions		3,795
	11,956	*	Forestar Group, Inc		219
	964,954	e	Fortress REIT Ltd (Class A)		1,313
	244,496		Four Corners Property Trust, Inc		6,914
	105,028		Franklin Street Properties Corp		889
	4,621,725		Franshion Properties China Ltd		2,649
	417,245		Frasers Centrepoint Trust		828
	558,100	e	Frasers Hospitality Trust		289
	2,116,310		Frasers Logistics & Industrial Trust		1,899
	198,626		Front Yard Residential Corp		2,296
	591		Frontier Real Estate Investment Corp		2,519
	7,953	*	FRP Holdings, Inc		382
	402	*	Fukuoka REIT Corp		683
	1,540,000	e	Future Land Development Holdings Ltd		1,344
	99,200		Future Land Holdings Co Ltd		395
	1,329,820		Gaming and Leisure Properties, Inc		50,852
	750,000		Gateway Real Estate AG.		3,270
	53,861		Gazit Globe Ltd		544
	4,799		Gazit, Inc		88
	1,191,346		GCP Student Living plc		2,505
	1,409,301		GDI Property Group		1,446
	24,073		Gecina S.A.		3,782
	81,900		Gemdale Corp		133
	2,190,000		Gemdale Properties and Investment Corp Ltd		243
	439,704		Gemgrow Properties Ltd		119
	618,492		Geo Group, Inc		10,725
	170,184		Getty Realty Corp		5,456
	76,727		Gladstone Commercial Corp		1,803
	15,426	e	Gladstone Land Corp		183
	288,269		Global Medical REIT, Inc		3,286
	249,893		Global Net Lease, Inc		4,873
	529	*	Global One Real Estate Investment Corp		715
	1,507,000	*	Glorious Property Holdings Ltd		61
	6,309	*	GLP J-Reit		8,367
	26,394	*	Godrej Properties Ltd		387
	164,280	e	Goldcrest Co Ltd		3,228
	2,007,857		Goodman Property Trust		2,786
	1,324,458		GPT Group (ASE)		5,508
	350,484		Grainger plc		1,060

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	150,520		Grand City Properties S.A.	$	3,386
	52,649		Granite REIT		2,549
	1,094,788		Great Portland Estates plc		10,096
	3,966,136		Green REIT plc		8,240
	145,700		Greenland Holdings Corp Ltd		144
	363,000		Greenland Hong Kong Holdings Ltd		124
	1,391		Griffin Land & Nurseries, Inc (Class A)		53
	953,704		Growthpoint Properties Australia Ltd		2,782
	4,820,954	e	Growthpoint Properties Ltd		7,359
	354,600	*	Grupo GICSA S.A. de C.V.		84
	4,576,413		Guangzhou R&F Properties Co Ltd		6,928
	157,600		Guocoland Ltd		229
	619,000		Guorui Properties Ltd		119
	247,815		H&R Real Estate Investment Trust		4,326
	51,787		Hamborner AG.		541
	442,686		Hammerson plc		1,544
	837,000		Hang Lung Group Ltd		2,086
	3,853,090		Hang Lung Properties Ltd		8,745
	322	*	Hankyu Reit, Inc		481
	65,818	e	Hannon Armstrong Sustainable Infrastructure Capital, Inc		1,919
	996,047		Hansteen Holdings plc		1,129
	1,130,865		HCP, Inc		40,293
	265,247		Healthcare Realty Trust, Inc		8,886
	657,458		Healthcare Trust of America, Inc		19,316
	103,000		Heiwa Real Estate Co Ltd		2,313
	173,871		Helical Bar plc		832
	65,638		Heliopolis Housing		101
	851,861		Hemfosa Fastigheter AB		8,625
	3,084,537		Henderson Land Development Co Ltd		14,367
	37,687		Hersha Hospitality Trust		561
	34,225,164		Hibernia REIT plc		54,836
	880,042		Highwealth Construction Corp		1,415
	34,981		Highwoods Properties, Inc		1,572
	61,880	e	HKC Holdings Ltd		44
	3,245,462		Hongkong Land Holdings Ltd		18,247
	123	*	Hoshino Resorts REIT, Inc		678
	1,761,722		Host Marriott Corp		30,460
	69,835	*	Howard Hughes Corp		9,051
	159,235		Huaku Development Co Ltd		411
	481,061		Hudson Pacific Properties		16,096
	186,294		Hufvudstaden AB (Series A)		3,372
	259,878		Hulic Co Ltd		2,668
	1,078	*	Hulic Reit, Inc		1,982
	262,800		Hung Sheng Construction Co Ltd		169
	135,294		Hyprop Investments Ltd		552
	1,357,303		Hysan Development Co Ltd		5,473
	16,783		Icade		1,501
	389,800	e	Ichigo Holdings Co Ltd		1,575
	849	*	Ichigo Real Estate Investment Corp		883
	443,700	*	IDU Co		353
	870,500		IGB Real Estate Investment Trust		424
	42,800		Iguatemi Empresa de Shopping Centers S.A.		490

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	55,712		Immobiliare Grande Distribuzione SIIQ S.p.A	$	341
	127,293		IMMOFINANZ AG.		3,544
	267,025		Independence Realty Trust, Inc		3,821
	697,565	*	Indiabulls Real Estate Ltd		453
	2,274		Industrial & Infrastructure Fund Investment Corp		3,267
	376,447	*	Industrial Buildings Corp		869
	221,311		Industrial Logistics Properties Trust		4,703
	1,855,000		Ingenia Communities Group		5,033
	283,855		Inmobiliaria Colonial S.A.		3,425
	11,624	e	Innovative Industrial Properties, Inc		1,074
	806,133	*,g	Instone Real Estate Group AG.		16,800
	72,910		InterRent Real Estate Investment Trust		900
	988		Intershop Holding AG.		534
	11,149	e	Intervest Offices		320
	547,962	e	Intu Properties plc		299
	5,985		Invesco Office J-Reit, Inc		1,191
	26,724		Investors Real Estate Trust		1,995
	47,578		Invincible Investment Corp		29,382
	1,822,701		Invitation Homes, Inc		53,970
	1,093,298		Irish Residential Properties REIT plc		2,047
	483,641		Iron Mountain, Inc		15,665
	10,600	*,e	IRSA Inversiones y Representaciones S.A. (GDR)		56
	61,461	e	iStar Financial, Inc		802
	1,330	*	Japan Excellent, Inc		2,171
	11,003		Japan Hotel REIT Investment Corp		8,209
	923	*	Japan Logistics Fund Inc		2,283
	1,133		Japan Prime Realty Investment Corp		5,377
	665		Japan Real Estate Investment Corp		4,460
	943	*	Japan Rental Housing Investments, Inc		868
	3,879		Japan Retail Fund Investment Corp		8,201
	13,211	e	JBG SMITH Properties		518
	45,180		Jernigan Capital, Inc		870
	323,081	*	Jerusalem Economy Ltd		1,433
	1,596,750	*,†	Jiangsu Future Land Co Ltd		6,829
	552,000		Jiayuan International Group Ltd		230
	1,865,000		Jingrui Holdings Ltd		599
	55,400		Jinke Properties Group Co Ltd		51
	59,782		Jones Lang LaSalle, Inc		8,313
	1,668,348		K Wah International Holdings Ltd		881
	1,988,000		Kaisa Group Holdings Ltd		872
	177,000	e	Katitas Co Ltd		7,304
	15,900	*	Keihanshin Building Co Ltd		193
	621		Kenedix Realty Investment Corp		4,907
	2,926	*	Kenedix Residential Investment Corp		5,769
	332	*	Kenedix Retail REIT Corp		832
	421,900		Kenedix, Inc		2,133
	306,206		Kennedy-Wilson Holdings, Inc		6,712
	3,107,217	e	Keppel DC REIT		4,297
	1,321,263		Kerry Properties Ltd		4,068
	58,653		Killam Apartment Real Estate Investment Trust		887
	282,362		Kilroy Realty Corp		21,993
	121,418		Kimco Realty Corp		2,535
	135,000		Kindom Construction Co		119

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	84,043		Kite Realty Group Trust	$	1,357
	3,746,950		Kiwi Property Group Ltd		3,920
	314,235		Klepierre		10,672
	2,025,536		Klovern AB (B Shares)		3,779
	18,622		Korea Asset In Trust Co Ltd		52
	72,282		Korea Real Estate Investment Trust Co		126
	1,055,191	e	K-REIT Asia		962
	553,335		Kungsleden AB		5,024
	1,164,108		KWG Property Holding Ltd		1,021
	376,508		Lai Sun Development Co Ltd		438
	185,882		Lamar Advertising Co		15,229
	67,827	*	Lamda Development S.A.		577
	6,728,400		Land and Houses PCL Co Reg		2,131
	214,593		Land Securities Group plc		2,260
	670,800	*	Landing International Development Ltd		88
	534,500		Langham Hospitality Investments Ltd		148
	62,197		Lar Espana Real Estate Socimi S.A.		523
	3,254	*	LaSalle Logiport REIT		4,661
	47,256		LEG Immobilien AG.		5,408
	868,353		Lend Lease Corp Ltd		10,299
	155,811	e	Leopalace21 Corp		368
	244,117		Lexington Realty Trust		2,502
	142,714		Liberty Property Trust		7,326
	87,517		Life Storage, Inc		9,225
	1,075,225		Link REIT		11,861
	4,294,800		Lippo-Mapletree Indonesia Retail Trust		715
	45,651		LOG Commercial Properties e Participacoes S.A.		266
	4,358,000		Logan Property Holdings Co Ltd		6,205
	2,877,295		London & Stamford Property plc		7,691
	1,391,678	g	Longfor Properties Co Ltd		5,198
	4,063,000		LPN Development PCL (Foreign)		751
	600,000	*	LPS Brasil Consultoria de Imoveis S.A.		1,151
	119,923		LSR Group PJSC (ADR)		260
	40,856		LTC Properties, Inc		2,093
	556,000	e	LVGEM China Real Estate Investment Co Ltd		199
	299,757		LXI REIT plc		480
	45,707	e	Macerich Co		1,444
	305,971		Mack-Cali Realty Corp		6,627
	205,431		Macquarie CountryWide Trust		590
	1,464,963		Macquarie Goodman Group		14,022
	1,068,890		Macquarie MEAG Prime REIT		576
	1,409,976		Mah Sing Group BHD		253
	1,030,972		Manulife US Real Estate Investment Trust		918
	35,779	*,†,e	Mapeley Ltd		0	^
	2,347,482	e	Mapletree Commercial Trust		3,891
	1,631,500		Mapletree Greater China Commercial Trust		1,559
	1,490,099		Mapletree Industrial Trust		2,620
	2,855,510		Mapletree Logistics Trust		3,347
	23,402	*	Marcus & Millichap, Inc		831
	734,592		Matrix Concepts Holdings BHD		332
	6,663	*	Maui Land & Pineapple Co, Inc		72
	475,100		MBK PCL		348
	559,669		Medical Properties Trust, Inc		10,947

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,393,812	*	Medinet Nasr Housing	$	668
	55,798,438		Megaworld Corp		4,706
	10,183		Melisron Ltd		660
	29,788		Mercialys S.A		396
	379,926		Merlin Properties Socimi S.A.		5,304
	31,513	g	Metrovacesa S.A.		304
	2,146,000	g	Mexico Real Estate Management S.A. de C.V.		2,698
	1,124,491		MGM Growth Properties LLC		33,791
	8,847	*	MID Reit, Inc		9,725
	42,042		Mid-America Apartment Communities, Inc		5,466
	971	*	Mirai Corp		576
	3,131,861		Mirvac Group		6,470
	607,294		Mitsubishi Estate Co Ltd		11,743
	119	*	Mitsubishi Estate Logistics REIT Investment Corp		379
	1,495,749		Mitsui Fudosan Co Ltd		37,225
	1,475		Mitsui Fudosan Logistics Park, Inc		6,146
	7,422		Mobimo Holding AG.		2,097
	458,000	e	Modern Land China Co Ltd		62
	417,324		Monmouth Real Estate Investment Corp (Class A)		6,014
	6,546		Montea C.V.A		554
	23,684		Morguard North American Resid		355
	33,962		Morguard Real Estate Investment Trust		301
	1,598		Mori Hills REIT Investment Corp		2,537
	155		Mori Trust Hotel Reit, Inc		206
	1,006	*	Mori Trust Sogo Reit, Inc		1,803
	240,729		Multiplan Empreendimentos Imobiliarios S.A.		1,671
	11,505	*,e	Nam Tai Property, Inc		104
	149,757		National Health Investors, Inc		12,338
	42,148		National Retail Properties, Inc		2,377
	596,832		National Storage Affiliates Trust		19,916
	949,999		National Storage REIT		1,151
	1,171,508		Neo-China Land Group Holdings Ltd		148
	843,156		NEPI Rockcastle plc		7,390
	9,561		NESCO Ltd		79
	83,813		New Senior Investment Group, Inc		560
	11,081,303		New World Development Co Ltd		14,391
	260,085		Newmark Group, Inc		2,356
	672,554	e	NewRiver REIT plc		1,608
	230,803		Nexity		10,987
	84,415		NexPoint Residential Trust, Inc		3,947
	442		Nippon Accommodations Fund, Inc		2,753
	1,072		Nippon Building Fund, Inc		8,236
	3,926		Nippon ProLogis REIT, Inc		10,765
	2,023		NIPPON REIT Investment Corp		8,447
	365,709		Nomura Real Estate Holdings, Inc		7,928
	6,726		Nomura Real Estate Master Fund, Inc		12,148
	77,409		Northview Apartment Real Estate Investment Trust		1,684
	85,280		NorthWest Healthcare Properties Real Estate Investment Trust		758
	10,671		NSI NV		461
	256,478	*	Nyfosa AB		1,746
	93,151		Oberoi Realty Ltd		668
	3,900		Oceanwide Holdings Co Ltd		2
	49,124		Office Properties Income Trust		1,505

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	231,542		Omega Healthcare Investors, Inc	$	9,676
	26,466		One Liberty Properties, Inc		729
	195,600	e	Open House Co Ltd		4,681
	2,179,000		Origin Property PCL		556
	388,850		Origin Property PCL		99
	2,463		Orix JREIT, Inc		5,380
	1,242,185		OUE Commercial Real Estate Investment Trust		485
	1,240,071		Outfront Media, Inc		34,449
	168,600		Overseas Union Enterprise Ltd		178
	721,200		Oxley Holdings Ltd		164
	782,629	*	Palm Hills Developments SAE		102
	649,088		Paramount Group, Inc		8,665
	227,622		Park Hotels & Resorts, Inc		5,684
	855,200		Parkway Life Real Estate Investment Trust		1,937
	640,267		Parque Arauco S.A.		1,827
	25,523		Patrizia Immobilien AG.		474
	295,100		Pavilion Real Estate Investment Trust		128
	160,290		Pebblebrook Hotel Trust		4,459
	75,650	e	Pennsylvania REIT		433
	65,288		Phoenix Mills Ltd		643
	195,073		Physicians Realty Trust		3,463
	1,301,489		Picton Property Income Ltd		1,405
	132,146		Piedmont Office Realty Trust, Inc		2,759
	1,220,800		PLA Administradora Industrial S de RL de C.V.		1,889
	319,000		Platinum Group PCL		54
	927,817		Poly Hong Kong Investment Ltd		324
	531,834		Poly Real Estate Group Co Ltd		1,067
	68,663		Potlatch Corp		2,821
	5,393,000		Powerlong Real Estate Holdings Ltd		3,805
	673,160		Precinct Properties New Zealand Ltd		786
	318,876	e	Preferred Apartment Communities, Inc		4,608
	1,511	*	Premier Investment Co		2,218
	154,678		Prestige Estates Projects Ltd		631
	1,640,763		Primary Health Properties plc		2,675
	505,826		Prince Housing & Development Corp		179
	196,600		ProLogis Property Mexico S.A. de C.V.		409
	2,021,092		Prologis, Inc		172,237
	1,343		Property & Building Corp		138
	728,000		Prosperity REIT		269
	899,500		Pruksa Holding PCL		491
	41,337		PS Business Parks, Inc		7,521
	150,883		PSP Swiss Property AG.		19,156
	4,156,100	*	PT Alam Sutera Realty Tbk		85
	17,128,747	*	PT Bumi Serpong Damai		1,678
	4,686,740		PT Ciputra Development Tbk		348
	36,574,100	*	PT Hanson International Tbk		237
	14,558,540		PT Lippo Karawaci Tbk		242
	42,911,400		PT Pakuwon Jati Tbk		2,010
	7,719,762		PT PP Properti Tbk		54
	8,355,400	*	PT Sentul City Tbk		68
	3,985,000		PT Summarecon Agung Tbk		324
	229,623		Public Storage, Inc		56,320
	4,901,400		Puradelta Lestari Tbk PT		97

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	517,276	*	Purplebricks Group plc	$	719
	417,329		QTS Realty Trust, Inc		21,455
	4,185,922		Quality House PCL		362
	326,841		Radium Life Tech Co Ltd		124
	10,999	*	Rafael Holdings, Inc		231
	3,829,009		RAK Properties PJSC		472
	229,656		Rayonier, Inc		6,476
	93,300		Raysum Co Ltd		971
	173,132		RDI REIT plc		232
	189,023	e	Re/Max Holdings, Inc		6,079
	117,453	e	Realogy Holdings Corp		785
	277,559		Realty Income Corp		21,283
	422,000	e,g	Redco Properties Group Ltd		180
	4,643,802		Redefine Properties Ltd		2,401
	90,427	*,e	Redfin Corp		1,523
	314,000		Redsun Properties Group Ltd		99
	673,668		Regency Centers Corp		46,813
	1,482,696	g	Regional REIT Ltd		1,881
	380,901		Reit Ltd		2,399
	106,500		Relo Holdings, Inc		2,624
	147,260		Resilient REIT Ltd		630
	10,819		Retail Estates NV		1,010
	119,213		Retail Opportunities Investment Corp		2,173
	634,182		Retail Properties of America, Inc		7,813
	15,537		Retail Value, Inc		575
	1,709,775		Rexford Industrial Realty, Inc		75,264
	474,964		RioCan Real Estate Investment Trust		9,457
	68,900		RiseSun Real Estate Development Co Ltd		80
	180,671		RLJ Lodging Trust		3,070
	53,207		RMR Group, Inc		2,420
	969,000		Road King Infrastructure		1,637
	43,460	*,†	Robinsons Land Corp		4
	4,269,264		Robinsons Land Corp		2,018
	1,593,000		Ronshine China Holdings Ltd		1,857
	81,174		RPT Realty		1,100
	374,454		Ruentex Development Co Ltd		501
	162,428		Rural Funds Group		186
	48,259		Ryman Hospitality Properties		3,948
	6,514,795	e	S.A. Corporate Real Estate Fund Nominees Pty Ltd		1,368
	841,873		Sabana Shari’ah Compliant Industrial REIT		277
	198,570		Sabra Healthcare REIT, Inc		4,559
	38,327		Safehold, Inc		1,169
	939,599		Safestore Holdings plc		7,723
	96,034		Sagax AB		368
	360,400		SAMTY Co Ltd		6,306
	2,806	*	Samty Residential Investment Corp		3,222
	17,087,377		Sansiri PCL		671
	38,138	*	Saudi Real Estate Co		124
	44,973		Saul Centers, Inc		2,451
	177,954		Savills plc		1,923
	199,819		SBA Communications Corp		48,186
	1,044,100		SC Asset Corp PCL		87
	8,801,643		Scentre Group		23,351
	320,195		Schroder Real Estate Investment Trust Ltd		218

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,639,333		Segro plc	$	16,343
	4,717	*	Sekisui House Reit, Inc		4,232
	112,573		Selvaag Bolig ASA		637
	243,900		Senior Housing Properties Trust		2,257
	34,466	e	Seritage Growth Properties		1,464
	51,628		Service Properties Trust		1,331
	215,590		Shaftesbury plc		2,408
	1,022,624		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,148
	76,100		Shanghai Zhangjiang High-Tech Park Development Co Ltd		165
	1,238,000		Shenzhen Investment Ltd		457
	975,261		Shimao Property Holdings Ltd		2,848
	193,970	*	Shining Building Business Co Ltd		69
	955,698		Shopping Centres Australasia Property Group		1,684
	3,741,500		Shui On Land Ltd		745
	150,000	e	Shurgard Self Storage Europe Sarl		4,782
	117	*	SIA Reit, Inc		344
	641,940		Siam Future Development PCL		123
	7,300,360		Sime Darby Property BHD		1,464
	711,695		Simon Property Group, Inc		110,775
	1,422,900		Singha Estate PCL		142
	1,528,566		Sino Land Co		2,297
	2,217,639		Sino-Ocean Land Holdings Ltd		753
	109,692		Sinyi Realty Co		111
	2,625,312	e	Sirius Real Estate Ltd		2,447
	15,411	e	SITE Centers Corp		233
	101,850		Six of October Development & Investment		97
	4,144		SK D&D Co Ltd		96
	1,124,000		Skyfame Realty Holdings Ltd		156
	444,900		SL Green Realty Corp		36,371
	22,550,490		SM Prime Holdings		16,188
	162,196		Smart Real Estate Investment Trust		3,979
	20,975		Sobha Developers Ltd		145
	2,208,135		Soho China Ltd		631
	537,017	e	Soilbuild Business Space REIT		208
	1,384,317		SP Setia BHD		450
	70,878		Sparkassen Immobilien AG.		1,630
	678,000		SPH REIT		535
	63,650		Spirit MTA REIT		537
	373,429		Spirit Realty Capital, Inc		17,872
	353,826		ST Modwen Properties plc		1,889
	33,031	*,e	St. Joe Co		566
	634,871		STAG Industrial, Inc		18,716
	965,720		Standard Life Investment Property Income Trust Ltd		1,050
	3,447	e	Star Asia Investment Corp		3,721
	2,859,838		Stockland Trust Group		8,785
	718,000	e	StorageVault Canada, Inc		1,805
	453,182	e	STORE Capital Corp		16,954
	7,034	*	Stratus Properties, Inc		207
	244,864		Sumitomo Realty & Development Co Ltd		9,348
	103,837		Summit Hotel Properties, Inc		1,205
	78,997		Summit Industrial Income REIT		783

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	44,139		Summit Real Estate Holdings Ltd	$	523
	508,669		Sun Communities, Inc		75,512
	307,600		Sun Frontier Fudousan Co Ltd		3,684
	1,657,395		Sun Hung Kai Properties Ltd		23,818
	2,375,522		Sunac China Holdings Ltd		9,549
	7,440,000	*,e	Suncity Group Holdings Ltd		1,691
	654,000		Sunlight Real Estate Investment Trust		437
	611,745		Sunstone Hotel Investors, Inc		8,405
	2,744,867		Suntec Real Estate Investment Trust		3,776
	24,547		Sunteck Realty Ltd		141
	832,338		Sunway BHD		342
	728,000		Sunway Real Estate Investment		334
	6,554,700		Supalai PCL		3,859
	1,105,094		Swire Pacific Ltd (Class A)		10,285
	2,960,323		Swire Properties Ltd		9,291
	79,390		Swiss Prime Site AG.		7,769
	688,603		TAG Tegernsee Immobilien und Beteiligungs AG.		15,714
	296,900		Takara Leben Co Ltd		1,151
	77	*	Takara Leben Infrastructure Fu		88
	405,635		Talaat Moustafa Group		257
	97,311	e	Tanger Factory Outlet Centers, Inc		1,506
	230,997		Taubman Centers, Inc		9,432
	19,305	*	Tejon Ranch Co		328
	325,193		Terreno Realty Corp		16,614
	251,687		TLG Immobilien AG.		6,844
	39,100		TOC Co Ltd		299
	1,176,101		Tokyo Tatemono Co Ltd		16,600
	7,108,591		Tokyu Fudosan Holdings Corp		45,496
	505	*	Tokyu REIT, Inc		961
	222,500		Top Spring International Holdings Ltd		44
	319,000		Tosei Corp		3,779
	3,001	*	Tosei Reit Investment Corp		3,827
	2,736	*,e	Transcontinental Realty Investors, Inc		85
	227,445		Tricon Capital Group, Inc		1,744
	5,525,341		Tritax Big Box REIT plc		10,162
	10,625,687	g	Tritax EuroBox plc		12,386
	1,574,800	*	U City PCL		105
	54,376		UDR, Inc		2,636
	579,000		UEM Land Holdings BHD		92
	445,508	e	UK Commercial Property REIT Ltd		460
	39,204		UMH Properties, Inc		552
	39,791		Unibail-Rodamco-Westfield		5,801
	251		Unibail-Rodamco-Westfield (Paris)		37
	1,340,863	*	Union Properties PJSC		112
	639,212		Unite Group plc		8,577
	4,301,450		United Development Co PSC		1,571
	2,053		United Urban Investment Corp		3,933
	249,164	e	Uniti Group, Inc		1,935
	306,000		Univentures PCL		61
	13,371		Universal Health Realty Income Trust		1,375
	50,000		Unizo Holdings Co Ltd		2,228
	275,685		UOA Development BHD		132
	405,664		UOL Group Ltd		2,203
	88,130		Urban & Civic plc		351

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	121,559		Urban Edge Properties	$	2,406
	31,442		Urstadt Biddle Properties, Inc (Class A)		745
	7,757		Vastned Retail NV		232
	599,469		Ventas, Inc		43,779
	1,796,547		VEREIT, Inc		17,570
	1,002,891	e	VICI Properties, Inc		22,715
	5,126,861		Vicinity Centres		8,895
	1,875,100		Vista Land & Lifescapes, Inc		279
	428,897		Viva Energy REIT		825
	192,319		Vornado Realty Trust		12,245
	2,609,219		Vukile Property Fund Ltd		3,273
	153,266	e	Wallenstam AB		1,737
	62,855		Warehouses De Pauw SCA		11,537
	209,076	e	Washington Prime Group, Inc		866
	84,511		Washington REIT		2,312
	465,137	e	Watkin Jones plc		1,287
	254,810		Weingarten Realty Investors		7,423
	663,729		Welltower, Inc		60,167
	23,959	e	Wereldhave NV		533
	1,816,033		Weyerhaeuser Co		50,304
	3,964,635		WHA Corp PCL		617
	1,632,002		Wharf Holdings Ltd		3,560
	3,415,525		Wharf Real Estate Investment Co Ltd		18,654
	867,505		Wheelock & Co Ltd		4,942
	40,411		Whitestone REIT		556
	535,925		Wihlborgs Fastigheter AB		8,709
	211,440		Wing Tai Holdings Ltd		314
	225,094		Workspace Group plc		2,664
	32,850		WP Carey, Inc		2,940
	36,756		WPT Industrial Real Estate Investment Trust		520
	172,803		Xenia Hotels & Resorts, Inc		3,650
	46,700		Xinhu Zhongbao Co Ltd		19
	475,400		Yanlord Land Group Ltd		403
	3,511,666	e	Yoma Strategic Holdings Ltd		801
	392,600		YTL Hospitality REIT		126
	791,000		Yuexiu Real Estate Investment Trust		507
	16,480,000		Yuexiul Property Co Ltd		3,575
	3,099,192		Yuzhou Properties Co		1,234
	860,000	*	Zhuguang Holdings Group Co Ltd		118
			TOTAL REAL ESTATE		4,604,254
RETAILING - 5.2%
	201,260	*	1-800-FLOWERS.COM, Inc (Class A)		2,978
	388,836		Aaron’s, Inc		24,987
	26,260		ABC-Mart, Inc		1,669
	66,691		Abercrombie & Fitch Co (Class A)		1,040
	1,194,561		Accent Group Ltd		1,376
	134,400		Adastria Holdings Co Ltd		3,029
	124,776		Advance Auto Parts, Inc		20,638
	356,200		Aeon Co M Bhd		124
	2,209,925	*	Alibaba Group Holding Ltd (ADR)		369,566
	54,200		Alpen Co Ltd		855
	1,111,814	*	Amazon.com, Inc		1,930,009

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	166,801		American Eagle Outfitters, Inc	$	2,706
	6,493	*	America’s Car-Mart, Inc		595
	122,331	*,e	AO World plc		105
	19,900		AOKI Holdings, Inc		192
	25,941	e	Aoyama Trading Co Ltd		453
	89,459		AP Eagers Ltd		859
	45,700		Arata Corp		1,684
	88,200		Arc Land Sakamoto Co Ltd		1,029
	13,112	*	Arvind Fashions Ltd		81
	8,400		Asahi Co Ltd		93
	19,826	*	Asbury Automotive Group, Inc		2,029
	11,100		ASKUL Corp		301
	364,250	*,e	ASOS plc		11,091
	49,223	*,e	At Home Group, Inc		474
	39,788		Autobacs Seven Co Ltd		652
	161,891	*	Autonation, Inc		8,208
	45,205	*	AutoZone, Inc		49,030
	4,016,883		B&M European Value Retail S.A.		18,729
	5,018,130	*	B2W Companhia Global Do Varejo		58,395
	38,289	*,e	Baozun, Inc (ADR)		1,635
	266,075	*	Barnes & Noble Education, Inc		830
	641,371		BCA Marketplace plc		1,860
	1,030,800		Beauty Community PCL (Foreign)		81
	131,556	e	Bed Bath & Beyond, Inc		1,400
	157,500		Belluna Co Ltd		1,003
	2,584,960		Berjaya Auto BHD		1,408
	830,148		Best Buy Co, Inc		57,272
	74,400		BIC CAMERA, Inc		786
	40,780		Big Lots, Inc		999
	210,126		Bilia AB		1,668
	802,648	*	BJ’s Wholesale Club Holdings, Inc		20,765
	2,371,892	*	boohoo.com plc		7,728
	76,125	*	Booking Holdings, Inc		149,404
	28,754	*	Boot Barn Holdings, Inc		1,004
	279,192	*,e,g	Boozt AB		1,926
	537,000	*,†,e	Boshiwa International Holding		1
	30,867	e	Buckle, Inc		636
	137,984	*	Burlington Stores, Inc		27,572
	160,313		Burson Group Ltd		797
	326,147		Caleres, Inc		7,635
	33,704	e	Camping World Holdings, Inc		300
	65,108		Canadian Tire Corp Ltd		7,306
	214,684		Card Factory plc		443
	677,655	*	CarMax, Inc		59,634
	100,723	*,e	Carvana Co		6,648
	30,163		Cashbuild Ltd		492
	24,144		Cato Corp (Class A)		425
	120,186	e	Chico’s FAS, Inc		484
	15,808	e	Children’s Place Retail Stores, Inc		1,217
	307,000		China Animation Characters Co Ltd		76
	73,900		China Grand Automotive Services Co Ltd		40
	302,000	e	China Harmony New Energy Auto Holding Ltd		100
	1,974,000	e	China Meidong Auto Holdings Ltd		1,759
	488,000		China ZhengTong Auto Services Holdings Ltd		140

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,900	e	Chiyoda Co Ltd	$	156
	161,291		Citi Trends, Inc		2,952
	11,415		CJ O Shopping Co Ltd		1,616
	41,176	e	Clas Ohlson AB (B Shares)		395
	241,000	*,g	Cogobuy Group		43
	6,303,800		Com7 PCL (Foreign)		5,029
	21,672	*,e	Conn’s, Inc		539
	20,334	*,e	Container Store Group, Inc		90
	293,714		Core-Mark Holding Co, Inc		9,433
	1,049,209	*	Ctrip.com International Ltd (ADR)		30,731
	3,215		Cuckoo Homesys Co Ltd		113
	367,387		Dah Chong Hong Holdings Ltd		116
	460,500	e	DCM Japan Holdings Co Ltd		4,524
	84,314		Delek Automotive Systems Ltd		338
	261,635	*,g	Delivery Hero AG.		11,615
	67,003		Designer Brands, Inc		1,147
	66,558	*	Despegar.com Corp		753
	247,276		Dick’s Sporting Goods, Inc		10,091
	46,733		Dieteren S.A.		2,533
	10,620	e	Dillard’s, Inc (Class A)		702
	655,595		Dollar General Corp		104,200
	480,877	*	Dollar Tree, Inc		54,897
	281,060		Dollarama, Inc		10,062
	360,764		Don Quijote Co Ltd		6,040
	13,100		Doshisha Co Ltd		207
	1,410		Dufry Group		118
	9,567	*,e	Duluth Holdings, Inc		81
	785,183		Dunelm Group plc		8,090
	55,076	e,g	Dustin Group AB		440
	3,001,754		eBay, Inc		117,008
	52,083	e	EDION Corp		503
	49,728	*	eDreams ODIGEO S.A.		231
	394,536	e	El Puerto de Liverpool SAB de C.V.		2,162
	72,200	*	Enigmo, Inc		652
	1,786,700	*,e	Esprit Holdings Ltd		340
	298,058	*	Etsy, Inc		16,840
	869,404	g	Europris ASA		2,404
	1,188,265		Expedia, Inc		159,715
	79,704	*	Express Parent LLC		274
	441,000		Far Eastern Department Stores Co Ltd		340
	974,560	*	Farfetch Ltd		8,420
	61,624	e	Fast Retailing Co Ltd		36,762
	35,878	*	Fawaz Abdulaziz Al Hokair & Co		247
	136,782	*	Five Below, Inc		17,248
	112,449	*,e	Floor & Decor Holdings, Inc		5,752
	162,812		Foot Locker, Inc		7,027
	279,430		Foschini Ltd		3,019
	54,800		Fuji Co Ltd		955
	60,577	*,e	Funko, Inc		1,246
	22,534		Future Lifestyle Fashions Ltd		134
	13,007	*,e	Gaia, Inc		85
	100,616	e	GameStop Corp (Class A)		555
	380,272		Gap, Inc		6,602

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,308	*	Genesco, Inc	$	653
	35,921		Genuine Parts Co		3,577
	53,500		Geo Holdings Corp		637
	672,000		Giordano International Ltd		195
	97,790	*,e	GNC Holdings, Inc		209
	1,038,030		Gocompare.Com Group plc		1,027
	8,514,844	*,e	GOME Electrical Appliances Holdings Ltd		771
	322,000		Grand Baoxin Auto Group Ltd		61
	6,411	*,e	Greenlane Holdings Inc		22
	18,200		Group 1 Automotive, Inc		1,680
	22,136	*	Groupe Fnac		1,398
	3,527,210	*	Groupon, Inc		9,382
	630,899	*,e	GrubHub, Inc		35,463
	9,735		GS Home Shopping, Inc		1,262
	51,379	e	Guess?, Inc		952
	190,400	e	Gulliver International Co Ltd		839
	113,536		Halfords Group plc		238
	200,825	e	Hankyu Department Stores, Inc		2,206
	2,365,960	e	Harvey Norman Holdings Ltd		7,238
	20,049	e	Haverty Furniture Cos, Inc		406
	244,223	*	HelloFresh SE		3,705
	4,161,037		Hengdeli Holdings Ltd		199
	24,432,000	*,e	HengTen Networks Group Ltd		371
	2,758,236	e	Hennes & Mauritz AB (B Shares)		53,467
	77,513	*,e	Hibbett Sports, Inc		1,775
	24,430		Hikari Tsushin, Inc		5,300
	3,031,233		Home Depot, Inc		703,306
	4,719,894		Home Product Center PCL (Foreign)		2,630
	9,839		Hornbach Holding AG. & Co KGaA		558
	539,518		Hotai Motor Co Ltd		8,195
	35,945		Hotel Shilla Co Ltd		2,588
	227,454	*	Hudson Ltd		2,791
	132,663		Hudson’s Bay Co		1,016
	12,927		Hyundai Department Store Co Ltd		843
	11,126		Hyundai Home Shopping Network Corp		851
	500,953		Inchcape plc		3,889
	1,062,154		Industria De Diseno Textil S.A.		32,871
	216,498		Isetan Mitsukoshi Holdings Ltd		1,734
	430,500	*,e	Istyle, Inc		2,988
	258,000		IT Ltd		72
	24,800		Izumi Co Ltd		973
	161,379		J Front Retailing Co Ltd		1,896
	21,860	e	J. Jill, Inc		42
	268,028		Jardine Cycle & Carriage Ltd		5,821
	132,360		Jarir Marketing Co		5,572
	153,617	e	JB Hi-Fi Ltd		3,527
	404,049	*,e	JC Penney Co, Inc		359
	1,292,925		JD Sports Fashion plc		11,933
	1,267,200	*	JD.com, Inc (ADR)		35,748
	8,800		Jin Co Ltd		524
	36,000		Joshin Denki Co Ltd		717
	29,400		Joyful Honda Co Ltd		379
	129,616		JUMBO S.A.		2,458
	35,000	*,e	Jumei International Holding Ltd (ADR)		74

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	89,958	*	Jumia Technologies AG. (ADR)	$	713
	973,999	*	Just Eat plc		8,001
	14,687		Keiyo Co Ltd		67
	102,545		Kering		52,255
	813,030		Kingfisher plc		2,066
	3,700		Kintetsu Department Store Co Ltd		108
	112,700	e	Kogan.com Ltd		462
	436,606	n	Kohl’s Corp		21,682
	114,300		Kohnan Shoji Co Ltd		2,531
	136,700		Komeri Co Ltd		2,767
	172,300		K’s Holdings Corp		1,877
	572,107	e	L Brands, Inc		11,208
	107,470	*,e	Lands’ End, Inc		1,219
	77,225	*	Leaf Group Ltd		324
	3,407,985		Li & Fung Ltd		387
	74,200	*	Liaoning Cheng Da Co Ltd		138
	211,500	*	Lifestyle China Group Ltd		60
	1,296,500		Lifestyle International Holdings Ltd		1,351
	26,219	*	Liquidity Services, Inc		194
	35,380		Lithia Motors, Inc (Class A)		4,684
	35,500		LIXIL VIVA Corp		535
	406,612	*	LKQ Corp		12,788
	600,000		Lojas Americanas S.A.		2,156
	4,395,094		Lojas Americanas S.A.(Preference)		21,114
	1,038,517		Lojas Renner S.A.		12,615
	168,136		Lookers plc		117
	4,415		LOTTE Himart Co Ltd		111
	9,754		Lotte Shopping Co Ltd		1,051
	39,243	e	Lovisa Holdings Ltd		340
	1,582,481		Lowe’s Companies, Inc		174,010
	204,000		Luk Fook Holdings International Ltd		513
	28,533	*,e	Lumber Liquidators, Inc		282
	478,205	e	Macy’s, Inc		7,431
	696,144		Magazine Luiza S.A.		6,206
	56,434	g	Maisons du Monde S.A.		891
	30,500	*	MakeMyTrip Ltd		692
	21,604	*	MarineMax, Inc		334
	405,139		Marks & Spencer Group plc		918
	124,044	e	Marui Co Ltd		2,628
	115,074		Matas A.S.		848
	14,500		Matsuya Co Ltd		112
	902,400	*	Meituan Dianping (Class B)		9,217
	26,011	e	Mekonomen AB		219
	48,300	*	Mercari, Inc		1,205
	655,636		Metro AG.		3,546
	100,498	*,e	Michaels Cos, Inc		984
	139,348		Mobilezone Holding AG.		1,372
	105,000		momo.com, Inc		885
	1,597,233		Moneysupermarket.com Group plc		7,428
	34,114		Monro Muffler, Inc		2,695
	75,520	e	Motus Holdings Ltd		343
	212,161		Mr Price Group Ltd		2,219
	61,751	*	Murphy USA, Inc		5,267

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,388,634	*,e	Myer Holdings Ltd	$	984
	95,968		N Brown Group plc		132
	606,970		Naspers Ltd (N Shares)		91,901
	81,480	*	National Vision Holdings, Inc		1,961
	635,144		New Carphone Warehouse plc		928
	46,897		Next plc		3,565
	163,100		Nextage Co Ltd		1,755
	25,700		Nishimatsuya Chain Co Ltd		219
	84,116		Nitori Co Ltd		12,344
	158,600		Nojima Corp		2,674
	141,315	e	Nordstrom, Inc		4,758
	6,720		NS Shopping Co Ltd		55
	376,345	*	Ocado Ltd		6,121
	589,151		Office Depot, Inc		1,034
	11,000	*,e	Oisix ra daichi, Inc		144
	97,608	*	Ollie’s Bargain Outlet Holdings, Inc		5,724
	316,969	g	On the Beach Group plc		1,486
	12,900	*,e	Open Door, Inc		261
	127,151	*	O’Reilly Automotive, Inc		50,671
	27,718	*	Overstock.com, Inc		294
	1,135,100		Padini Holdings BHD		1,035
	8,300		Pal Co Ltd		257
	79,000		Paltac Corp		3,881
	10,700		Parco Co Ltd		126
	55,178	*,e	Party City Holdco, Inc		315
	46,780	*	PC Home Online		195
	66,239		PC Jeweller Ltd		30
	1,074,469		Pendragon plc		121
	67,363	e	Penske Auto Group, Inc		3,185
	21,770	e	PetMed Express, Inc		392
	1,007,500		Petrobras Distribuidora S.A.		6,676
	341,895		Pets at Home Group plc		873
	172,188	*,e	Pinduoduo, Inc (ADR)		5,548
	70,401		Pool Corp		14,200
	5,632,500		Pou Sheng International Holdings Ltd		1,674
	29,701		Poya Co Ltd		421
	54,961		Premier Investments Ltd		719
	539,153	*	Prosus NV		39,578
	14,597,800		PT ACE Hardware Indonesia Tbk		1,821
	3,196,400		PT Matahari Department Store Tbk		772
	25,501,900		PT Mitra Adiperkasa Tbk		1,850
	7,145,700		PT Ramayana Lestari Sentosa Tbk		606
	344,100		PTG Energy PCL		212
	83,535	*	Quotient Technology, Inc		653
	630,621	*	Qurate Retail Group, Inc QVC Group		6,505
	836,366		Rakuten, Inc		8,291
	17,846	*,e	RealReal, Inc		399
	287,395		Rent-A-Center, Inc		7,412
	84,782	*,e	RH		14,483
	375,352		Ripley Corp S.A.		268
	354,100		Robinson PCL		738
	44,077	*,g	Rocket Internet SE		1,138
	757,803		Ross Stores, Inc		83,245
	71,457	*	RTW RetailWinds, Inc		98

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	222,331	*	Rubicon Project, Inc	$	1,936
	244,040	e	Ryohin Keikaku Co Ltd		4,575
	2,463,278	e	SA SA International Holdings Ltd		547
	749,239		SACI Falabella		4,187
	126,599	*	Sally Beauty Holdings, Inc		1,885
	28,400	e	Sanrio Co Ltd		549
	6,466		Saudi Co For Hardware CJSC		109
	11,783	*	Seobu Truck Terminal Co Ltd		71
	23,900		Seria Co Ltd		582
	25,200		Shimachu Co Ltd		616
	15,940		Shimamura Co Ltd		1,266
	54,696		Shinsegae Co Ltd		11,984
	1,241		Shinsegae International Co Ltd		205
	9,644	e	Shoe Carnival, Inc		313
	4,888	*,g	Shop Apotheke Europe NV		190
	12,294		Shopper’s Stop Ltd		74
	20,077		Shutterstock, Inc		725
	673,421		Siam Global House PCL		341
	54,113	e	Signet Jewelers Ltd		907
	47,038	e,g	Sleep Country Canada Holdings, Inc		732
	139,871	*	Sleep Number Corp		5,779
	16,553	*,e,g	SMCP S.A.		230
	154,826		Sonic Automotive, Inc (Class A)		4,863
	171,527	*	Sports Direct International plc		589
	67,899	*	Sportsman’s Warehouse Holdings, Inc		352
	17,438	*	Stamps.com, Inc		1,298
	288,702	e	Start Today Co Ltd		6,688
	43,027	*,e	Stitch Fix Inc		828
	216,600		Suning.com Co Ltd		314
	471,244		Super Cheap Auto Group Ltd		3,156
	175,641	*	Super Group Ltd		322
	31,523		SuperGroup plc		160
	64,835	e	Tailored Brands, Inc		285
	563,300		Takashimaya Co Ltd		6,589
	20,913	*,g	Takeaway.com Holding BV		1,666
	54,798		Takkt AG.		726
	1,229,606		Target Corp		131,457
	41,400		Telepark Corp		838
	130,000		Test-Rite International Co		90
	566,659	e	Tiffany & Co		52,490
	50,738	e	Tile Shop Holdings, Inc		162
	292,581		Tilly’s, Inc		2,762
	2,192,179		TJX Companies, Inc		122,192
	129,649		Tokmanni Group Corp		1,441
	11,400	*	Tokyo Base Co Ltd		83
	14,500		Tokyo Derica Co Ltd		120
	250,335		Tractor Supply Co		22,640
	1,231,825	*,g	Trainline plc		6,346
	386,858		Truworths International Ltd		1,354
	128,616	*	Ulta Beauty, Inc		32,238
	53,630	e	Uni-Select, Inc		447
	23,399		United Arrows Ltd		685
	11,842		United Electronics Co		231

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,962	*,e	Urban Outfitters, Inc	$	757
	243,660		USS Co Ltd		4,745
	1,827		Valora Holding AG.		495
	3,321,200		Via Varejo S.A.		6,331
	782,400	*	Vipshop Holdings Ltd (ADR)		6,979
	4,271		V-Mart Retail Ltd		127
	194,600		VT Holdings Co Ltd		803
	53,852	*,e	Waitr Holdings Inc		69
	99,763	*,e	Wayfair, Inc		11,185
	10,388,000	*	We Solutions Ltd		629
	72,492	e	Webjet Ltd		534
	1,204,164		Wesfarmers Ltd		32,353
	6,504		Weyco Group, Inc		147
	410,834		WH Smith plc		10,039
	686,800		Wilcon Depot, Inc		219
	213,378	e	Williams-Sonoma, Inc		14,505
	2,569		Winmark Corp		453
	924,952	e	Woolworths Holdings Ltd		3,367
	219,400	*	World Co Ltd		5,043
	31,400		Xebio Co Ltd		343
	72,951	e,g	XXL ASA		182
	668,584		Yamada Denki Co Ltd		3,240
	93,800		Yellow Hat Ltd		1,388
	90,000	e	Yume No Machi Souzou Iinkai Co Ltd		1,343
	314,300	*,g	Zalando SE		14,351
	441,000		Zhongsheng Group Holdings Ltd		1,393
	4,551	*	zooplus AG.		542
	225,806	*	Zumiez, Inc		7,152
			TOTAL RETAILING		5,859,234
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.8%
	350,635	*	Acacia Communications, Inc		22,932
	90,615		A-DATA Technology Co Ltd		147
	38,278	*,e	Adesto Technologies Corp		328
	39,356	*	Advanced Energy Industries, Inc		2,259
	3,678,095	*,n	Advanced Micro Devices, Inc		106,628
	5,658		Advanced Process Systems Corp		137
	277,882		Advantest Corp		12,387
	65,088	*	Aixtron AG.		664
	23,610	*	Alpha & Omega Semiconductor Ltd		290
	33,176	*	Ambarella, Inc		2,085
	341,976	*	Amkor Technology, Inc		3,112
	100,412	e	ams AG.		4,481
	642,004		Analog Devices, Inc		71,731
	3,491,844		Applied Materials, Inc		174,243
	195,738		Ardentec Corp		176
	2,628,245		ASE Industrial Holding Co Ltd		5,984
	150,419		ASM International NV		13,839
	297,230		ASM Pacific Technology		3,627
	18,884		ASMedia Technology, Inc		295
	714,634		ASML Holding NV		177,239
	10,000		ASPEED Technology, Inc		254
	16,125	*	Atto Co Ltd		57
	42,711	*	Axcelis Technologies, Inc		730

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,990	*	AXT, Inc	$	153
	43,965		BE Semiconductor Industries NV		1,375
	1,228,563		Broadcom, Inc		339,169
	139,029		Brooks Automation, Inc		5,148
	30,346		Cabot Microelectronics Corp		4,285
	23,271	*	Ceva, Inc		695
	70,000		Chang Wah Technology Co Ltd		78
	11,538	*,†	China Energy Savings Technology, Inc		0
	1,317,000		Chipbond Technology Corp		2,437
	277,436		ChipMOS Technologies, Inc		282
	75,447	*	Cirrus Logic, Inc		4,042
	43,246		Cohu, Inc		584
	1,663,094	*	Cree, Inc		81,492
	776,449		Cypress Semiconductor Corp		18,122
	231,723		Dainippon Screen Manufacturing Co Ltd		13,802
	4,700	*,e	Daqo New Energy Corp (ADR)		217
	339,901	*	Dialog Semiconductor plc		16,098
	211,508	*	Diodes, Inc		8,492
	19,982	e	Disco Corp		3,820
	153,356		Dongbu HiTek Co Ltd		2,052
	22,226	*	DSP Group, Inc		313
	189,400		Elan Microelectronics Corp		523
	123,000		Elite Semiconductor Memory Technology, Inc		131
	25,546		Elmos Semiconductor AG.		677
	39,571		eMemory Technology, Inc		418
	220,631		Entegris, Inc		10,383
	4,184		Eo Technics Co Ltd		300
	516,000		Epistar Corp		403
	175,000		Everlight Electronics Co Ltd		157
	107,060		Faraday Technology Corp		199
	214,300		Ferrotec		1,686
	461,705	*	First Solar, Inc		26,783
	197,000		Forhouse Corp		111
	116,289	*	Formfactor, Inc		2,168
	74,000		Formosa Advanced Technologies Co Ltd		81
	165,000		Formosa Sumco Technology Corp		536
	223,850		Foxsemicon Integrated Technology, Inc		833
	6,087,000	*	GCL Poly Energy Holdings Ltd		245
	14,395	*	GemVax & Kael Co Ltd		141
	39,000		Global Unichip Corp		314
	847,700		Globalwafers Co Ltd		8,549
	296,033		Globetronics Technology BHD		146
	136,000		Greatek Electronics, Inc		188
	15,654	*,e	GSI Technology, Inc		137
	290,200		Hana Microelectronics PCL (Foreign)		268
	8,102		Hanmi Semiconductor Co Ltd		45
	87,000		Holtek Semiconductor, Inc		182
	618,000	e,g	Hua Hong Semiconductor Ltd		1,231
	747,341		Hynix Semiconductor, Inc		51,328
	23,757	*	Ichor Holdings Ltd		574
	94,101	*,e	Impinj, Inc		2,901
	960,841		Infineon Technologies AG.		17,263
	3,052	*	Innox Advanced Materials Co Ltd		128

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	672,082	*	Inphi Corp	$	41,031
	8,230,514	n	Intel Corp		424,118
	478,331	*,e	IQE plc		368
	34,600		Japan Material Co Ltd		430
	339,000	*,e	JinkoSolar Holding Co Ltd (ADR)		5,407
	18,062		Jusung Engineering Co Ltd		109
	578,000		King Yuan Electronics Co Ltd		649
	130,000		Kinsus Interconnect Technology Corp		175
	344,478	h	Kla-Tencor Corp		54,927
	5,736		Koh Young Technology, Inc		426
	7,137		L&F Co Ltd		126
	825,246		Lam Research Corp		190,723
	35,800		Land Mark Optoelectronics Corp		295
	91,800		Lasertec Corp		5,801
	738,196	*	Lattice Semiconductor Corp		13,498
	6,286		LEENO Industrial Inc		294
	132,590		LONGi Green Energy Technology Co Ltd		487
	16,000		Machvision, Inc		166
	49,279	*	MA-COM Technology Solutions		1,059
	879,000		Macronix International		892
	41,100		Malaysian Pacific Industries BHD		90
	3,397,391		Marvell Technology Group Ltd		84,833
	427,953		Maxim Integrated Products, Inc		24,783
	67,792	*	MaxLinear, Inc		1,517
	4,485,494		MediaTek, Inc		53,367
	1,315		Meerecompany, Inc		39
	7,100		Megachips Corp		110
	11,655	e	Melexis NV		808
	1	*	Mellanox Technologies Ltd		0	^
	340,916	*,e	Meyer Burger Technology AG.		140
	239,165	e	Microchip Technology, Inc		22,221
	3,638,588	*	Micron Technology, Inc		155,913
	18,400	e	Micronics Japan Co Ltd		148
	112,900		Mimasu Semiconductor Industry Co Ltd		1,828
	13,800	e	Mitsui High-Tec, Inc		218
	55,455		MKS Instruments, Inc		5,117
	155,842	n	Monolithic Power Systems, Inc		24,254
	24,662	*	Nanometrics, Inc		804
	992,000		Nanya Technology Corp		2,577
	950,405	*	Neo Solar Power Corp		251
	635,149	*	NeoPhotonics Corp Ltd		3,868
	79,843	*,e	Nordic Semiconductor ASA		447
	16,415	*	Nova Measuring Instruments Ltd		529
	476,752		Novatek Microelectronics Corp Ltd		2,736
	8,900		Nuflare Technology, Inc		634
	7,394		NVE Corp		491
	1,489,883		NVIDIA Corp		259,344
	1,278,125		NXP Semiconductors NV		139,469
	473,914	*	ON Semiconductor Corp		9,104
	17,440		On-Bright Electronics, Inc		92
	11,600		Optorun Co Ltd		332
	143,100		Pan Jit International, Inc		134
	37,401		Parade Technologies Ltd		650
	29,297	*	PDF Solutions, Inc		383

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	831,895		Phison Electronics Corp	$	7,398
	182,796	*	Photronics, Inc		1,989
	57,613		Pixart Imaging, Inc		206
	29,330		Power Integrations, Inc		2,652
	674,397		Powertech Technology, Inc		1,895
	154,224	*	Qorvo, Inc		11,434
	2,342,277	n	QUALCOMM, Inc		178,669
	2,890,000		Radiant Opto-Electronics Corp		11,037
	231,282	*	Rambus, Inc		3,036
	1,358,333		Realtek Semiconductor Corp		10,071
	2,314,834	*	Renesas Electronics Corp		15,170
	6,063		RFHIC Corp		206
	983,137		Rohm Co Ltd		75,802
	18,500	*	Rorze Corp		443
	44,600	e	RS Technologies Co Ltd		1,463
	31,296	*	Rudolph Technologies, Inc		825
	6,648,395		Samsung Electronics Co Ltd		272,212
	990,701		Samsung Electronics Co Ltd (Preference)		32,702
	203,838		Sanan Optoelectronics Co Ltd		403
	12,499		Sanken Electric Co Ltd		250
	61,000		SDI Corp		122
	2,383,547	*,e	Semiconductor Manufacturing International Corp		2,981
	182,075	*	Semtech Corp		8,851
	18,281		Seoul Semiconductor Co Ltd		212
	132,000	*	Shanghai Fudan Microelectronics Group Co Ltd		116
	3,200		Shindengen Electric Manufacturing Co Ltd		104
	36,200		Shinko Electric Industries		311
	176,000		Sigurd Microelectronics Corp		188
	52,934		Silergy Corp		1,313
	45,128	*	Silicon Laboratories, Inc		5,025
	5,611		Silicon Works Co Ltd		160
	60,448		Siltronic AG.		4,592
	239,000		Sino-American Silicon Products, Inc		631
	159,000		Sitronix Technology Corp		853
	277,397		Skyworks Solutions, Inc		21,984
	6,378		SMA Solar Technology AG.		181
	14,046	*	SMART Global Holdings, Inc		358
	11,480	*	SOITEC		1,134
	1,540,245		STMicroelectronics NV		29,806
	3,356,866		Sumco Corp		45,730
	234,009	*,e	SunPower Corp		2,567
	627,000		SVI PCL (Foreign)		94
	86,000		Taiwan Semiconductor Co Ltd		126
	40,684,158		Taiwan Semiconductor Manufacturing Co Ltd		361,338
	604,000		Taiwan Surface Mounting Technology Co Ltd		1,430
	555,993		Teradyne, Inc		32,198
	1,769,544	n	Texas Instruments, Inc		228,696
	2,255		Tokai Carbon Korea Co Ltd		101
	83,284	e	Tokyo Electron Ltd		16,001
	20,400	e	Tokyo Seimitsu Co Ltd		605
	527,185		Topco Scientific Co Ltd		1,622
	9,519		Toptec Co Ltd		67
	98,561	*	Tower Semiconductor Ltd		1,955

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,746,000	*,†	Trony Solar Holdings Co Ltd.	$	2
	4,000		U-Blox AG.		289
	128,700		UKC Holdings Corp		2,094
	55,845	*	Ultra Clean Holdings		817
	23,600		Ulvac, Inc		956
	15,377,871		United Microelectronics Corp		6,594
	122,890	e	Universal Display Corp		20,633
	1,085,228		Vanguard International Semiconductor Corp		2,188
	47,971	*	Veeco Instruments, Inc		560
	96,980		Versum Materials, Inc		5,133
	78,000	*	Via Technologies, Inc		87
	75,068		Visual Photonics Epitaxy Co Ltd		266
	90,500		ViTrox Corp BHD		163
	231,975		Wafer Works Corp		251
	603,000		Win Semiconductors Corp		5,394
	1,747,000		Winbond Electronics Corp		1,005
	16,365		WONIK IPS Co Ltd		396
	31,084	*,e,g	X-Fab Silicon Foundries SE		139
	495,911		Xilinx, Inc		47,558
	65,000	*	XinTec, Inc		100
	2,362,900		Xinyi Solar Holdings Ltd		1,420
	253,160		Xperi Corp		5,235
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		4,274,117
SOFTWARE & SERVICES - 9.5%
	28,600	*	21Vianet Group, Inc (ADR)		218
	91,925	*	2U, Inc		1,497
	104,100		360 Security Technology, Inc		343
	98,696	*,e	8x8, Inc		2,045
	177,351	*	A10 Networks, Inc		1,231
	1,432,216		Accenture plc		275,487
	121,245	*	ACI Worldwide, Inc		3,798
	707,486	*	Adobe, Inc		195,443
	89,452	*,g	Adyen NV		58,826
	931,359	*	Afterpay Touch Group Ltd		22,649
	1,844,000	*	AGTech Holdings Ltd		87
	2,825		Ahnlab, Inc		158
	58,000		Aisino Corp		170
	561,340	*	Akamai Technologies, Inc		51,295
	39,109	*,e	Alarm.com Holdings, Inc		1,824
	204,824	*,g	Alfa Financial Software Holdings plc		207
	81,833		Alliance Data Systems Corp		10,485
	41,426	*	Altair Engineering, Inc		1,434
	29,676		Alten		3,388
	92,949	*,e	Alteryx, Inc		9,986
	255,528		Altium Ltd		5,767
	202,879		Altran Technologies S.A.		3,185
	514,563		Amadeus IT Holding S.A.		36,869
	428,644		Amdocs Ltd		28,338
	28,881	*	American Software, Inc (Class A)		434
	1,382,776	*,n	Anaplan, Inc		64,990
	79,091	*	Ansys, Inc		17,508
	321,666		Appen Ltd		4,604
	16,583	*,e	Appfolio, Inc		1,578

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,204	*,e	Appian Corp	$	1,530
	21,400		Argo Graphics, Inc		516
	171,361	*	Aspen Technology, Inc		21,091
	228,896		Asseco Poland S.A.		2,916
	96,343	*	Atlassian Corp plc		12,085
	185,214		Atos Origin S.A.		13,037
	12,988		Aubay		480
	11,200	*,e	Aurora Mobile Ltd (ADR)		45
	221,375	*	Autodesk, Inc		32,697
	1,018,370		Automatic Data Processing, Inc		164,385
	172,705	*	Avalara, Inc		11,621
	1,586,468	g	Avast plc		7,579
	116,069	*	Avaya Holdings Corp		1,187
	60,363		Aveva Group plc		2,743
	188,930	*	B2W Cia Digital (ADR)		2,178
	164,419		Bechtle AG.		16,734
	41,700		Beijing Shiji Information Technology Co Ltd		231
	30,001	*,e	Benefitfocus, Inc		714
	362,865	*	Black Knight, Inc		22,157
	51,207		Blackbaud, Inc		4,626
	641,655	*	Blackberry Ltd (New)		3,361
	75,474	*	Blackline, Inc		3,608
	115,218	*,e	Blue Prism Group plc		1,347
	576,262		Booz Allen Hamilton Holding Co		40,926
	73,016	*	Bottomline Technologies, Inc		2,873
	147,993	*	Box, Inc		2,451
	142,170		Bravura Solutions Ltd		398
	134,365	*	Brightcove, Inc		1,408
	49,200		Broadleaf Co Ltd		266
	207,719		Broadridge Financial Solutions, Inc		25,846
	60,534	*	CACI International, Inc (Class A)		13,999
	384,213	*	Cadence Design Systems, Inc		25,389
	22,847	*	Cafe24 Corp		1,220
	75,539		Cancom SE		4,070
	260,788		Cap Gemini S.A.		30,708
	253,733	*	Carbon Black, Inc		6,595
	34,341	*	Carbonite, Inc		532
	39,168	*	Cardtronics plc		1,184
	15,298		Cass Information Systems, Inc		826
	283,626		CDK Global, Inc		13,640
	129,840	*	Ceridian HCM Holding, Inc		6,410
	520,136	*	CGI, Inc		41,129
	5,500	*,e	Change, Inc		102
	30,185	*	ChannelAdvisor Corp		282
	133,570	*	Check Point Software Technologies		14,626
	16,700	e	Cheetah Mobile, Inc (ADR)		60
	930,000	e	Chinasoft International Ltd		410
	1,744,213		Cielo S.A.		3,358
	237,619	*	Cision Ltd		1,827
	143,983		Citrix Systems, Inc		13,897
	243,772	*,e	Cloudera, Inc		2,160
	917,622		Cognizant Technology Solutions Corp (Class A)		55,300
	111,266	*	Commvault Systems, Inc		4,975

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	298,370		Computacenter plc	$	4,734
	12,400		Computer Engineering & Consulting Ltd		233
	461,976		Computershare Ltd		5,050
	26,800		Comture Corp		508
	177,906	*	Conduent, Inc		1,107
	21,509		Constellation Software, Inc		21,481
	59,662	*	Cornerstone OnDemand, Inc		3,271
	101,270	*	Coupa Software, Inc		13,122
	51,751		CSG Systems International, Inc		2,674
	127,455	*,e	CyberArk Software Ltd		12,723
	13,900	*	Cybozu, Inc		131
	1,080,015		Dassault Systemes S.A.		153,855
	32,502	*,e	Datadog, Inc		1,102
	755,302	*	Descartes Systems Group, Inc		30,489
	13,174	e	Devoteam S.A.		1,102
	488,105		DHC Software Co Ltd		461
	13,108	*,e	Digimarc Corp		512
	6,500		Digital Arts, Inc		431
	324,000	e	Digital China Holdings Ltd		174
	18,300		Digital Garage, Inc		586
	80,399	*,e	Digital Turbine, Inc		518
	150,839	*	DocuSign, Inc		9,340
	19,866	*,e	Domo, Inc		317
	657,202	*	Dropbox, Inc		13,256
	207,200		DTS Corp		4,332
	10,094		DuzonBIzon Co Ltd		551
	444,014		DXC Technology Co		13,098
	70,509	*	Dynatrace, Inc		1,316
	23,997	e	Ebix, Inc		1,010
	22,828		eClerx Services Ltd		140
	71,462	e	Econocom Group S.A.		179
	140,294	*	EDB Business Partner ASA		516
	21,389	*	eGain Corp		171
	68,088	*,e	Elastic NV		5,606
	65,865		Ementor ASA		847
	79,645	*	Endurance International Group Holdings, Inc		299
	54,190		Enghouse Systems Ltd		1,493
	50,208	*	Envestnet, Inc		2,847
	88,556	*	EOH Holdings Ltd		70
	70,909	*	EPAM Systems, Inc		12,928
	252,098	g	Equiniti Group plc		672
	158,024	*	Euronet Worldwide, Inc		23,119
	51,925	*	Everbridge, Inc		3,204
	833,995	*	Everi Holdings, Inc		7,056
	343,834		EVERTEC, Inc		10,734
	96,656	*	Evo Payments, Inc		2,718
	60,396	*,e	Exela Technologies, Inc		71
	35,329	*	ExlService Holdings, Inc		2,366
	64,370	*	Fair Isaac Corp		19,538
	3,211,749		Fidelity National Information Services, Inc		426,392
	192,564	*	FireEye, Inc		2,569
	144,089	*	First American Corp		6,667
	44,681	e	First Derivatives plc		1,229
	846,572		Firstsource Solutions Ltd		562

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,589,842	*	Fiserv, Inc	$	164,692
	256,192	*	Five9, Inc		13,768
	142,469	*	FleetCor Technologies, Inc		40,857
	43,468	*	ForeScout Technologies, Inc		1,648
	21,741		Formula Systems 1985 Ltd		1,381
	297,350	*	Fortinet, Inc		22,825
	121,944		Fortnox AB		2,046
	59,035		F-Secure Oyj		179
	63,200		FUJI SOFT, Inc		2,685
	519,438		Fujitsu Ltd		41,747
	6,300		Fukui Computer Holdings, Inc		144
	40,200		Future Architect, Inc		703
	198,536	*	Gartner, Inc		28,389
	262,145		GB Group plc		1,740
	135,400	*,e	GDS Holdings Ltd (ADR)		5,427
	854,065		Genpact Ltd		33,095
	60,535	*,g	Global Dominion Access S.A.		244
	459,988		Global Payments, Inc		73,138
	63,025	*,e	Globant S.A.		5,772
	2,500	*	GMO Cloud KK		62
	40,600		GMO internet, Inc		703
	48,100		GMO Payment Gateway, Inc		3,229
	605,996	*	GoDaddy, Inc		39,984
	40,301	*,e	GTY Technology Holdings Inc		253
	77,447	*	Guidewire Software, Inc		8,161
	6,900	*,e	Gunosy, Inc		90
	8,912		Haansoft, Inc		76
	194,545		Hackett Group, Inc		3,202
	93,442		Hansen Technologies Ltd		239
	672,351		HCL Technologies Ltd		10,254
	4,600		Hearts United Group Co Ltd		40
	132,922		Hexaware Technologies Ltd		714
	3,072,000	*	Hi Sun Technology China Ltd		524
	17,641		Hilan Ltd		719
	366,269	*	HubSpot, Inc		55,530
	276,800	*,e,g	Huifu Payment Ltd		105
	39,360		Hundsun Technologies, Inc		408
	14,778	*	I3 Verticals, Inc		297
	52,736	*,e	Ideanomics Inc		79
	102,700	*	Iflytek Co Ltd		459
	282,444	*	Indra Sistemas S.A.		2,445
	87,200		Ines Corp		945
	156,786		Inesa Intelligent Tech, Inc - B		97
	15,500		Infocom Corp		364
	826,500		Infomart Corp		12,938
	35,921	*	Information Services Group, Inc		89
	20,100		Information Services International-Dentsu Ltd		629
	4,349,077		Infosys Technologies Ltd		49,235
	9,202	*,e	Inspired Entertainment, Inc		66
	210,000	e	Inspur International Ltd		92
	35,504	*,e	Instructure, Inc		1,375
	55,465		Integrated Research Ltd		116
	56,509	*,e	Intelligent Systems Corp		2,347

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,289,386		International Business Machines Corp	$	187,503
	45,658	*,e	International Money Express Inc		627
	71,266	*	InterXion Holding NV		5,805
	717,364		Intuit, Inc		190,776
	58,231		iomart Group plc		257
	160,437		Iress Market Technology Ltd		1,255
	254,730		IT Holdings Corp		14,718
	108,406	e	Itochu Techno-Science Corp		2,879
	83,064	e	j2 Global, Inc		7,544
	31,866		Jack Henry & Associates, Inc		4,651
	18,600		Justsystems Corp		707
	222,369		Kainos Group plc		1,236
	6,700		Kanematsu Electronics Ltd		192
	237,666		KBR, Inc		5,832
	124,916	e	Keywords Studios plc		1,759
	7,615		Kginicis Co Ltd		99
	308,783	*	Kinaxis, Inc		20,095
	2,069,000	e	Kingdee International Software Group Co Ltd		2,179
	755,061	*,e	Kingsoft Corp Ltd		1,602
	5,596	*	Korea Information & Communications Co Ltd		42
	282,830		KPIT Cummins Infosystems Ltd		276
	302,926		KPIT Engineering Ltd		407
	9,200	e	LAC Co Ltd		113
	13,500	g	Larsen & Toubro Infotech Ltd		288
	2,848,747	e	Learning Technologies Group plc		3,953
	270,184		Leidos Holdings, Inc		23,203
	124,600	*	Lightspeed POS, Inc		2,882
	430,667	*	Limelight Networks, Inc		1,305
	305,891		Link Administration Holdings Ltd		1,179
	270,367		Linx S.A.		2,104
	64,693	*,e	Liveperson, Inc		2,310
	195,847	*	LiveRamp Holdings, Inc		8,414
	128,045		LogMeIn, Inc		9,086
	134,200	*	Logo Yazilim Sanayi Ve Ticaret AS.		953
	11,960		Lotte Data Communication Co		454
	8,115	*	Majesco		68
	128,794	*	Manhattan Associates, Inc		10,390
	38,653		Mantech International Corp (Class A)		2,760
	2,937,884		MasterCard, Inc (Class A)		797,841
	45,044		Matrix IT Ltd		766
	119,111		MAXIMUS, Inc		9,203
	2,643,344	*,e	Medallia, Inc		72,507
	291,168	*	Megaport Ltd		1,787
	507,563		Micro Focus International plc		7,132
	17,461,877	n	Microsoft Corp		2,427,725
	8,517	*	MicroStrategy, Inc (Class A)		1,264
	102,841		MindTree Ltd		1,028
	10,200		Miroku Jyoho Service Co Ltd		280
	351,312	*	Mitek Systems, Inc		3,390
	3,800		Mitsubishi Research Institute, Inc		127
	520,134	*	MobileIron, Inc		3,404
	437,093	*	Model N, Inc		12,134
	7,600	*,e	Money Forward, Inc		253
	68,812	*,e	MongoDB, Inc		8,290

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	114,829		Monotype Imaging Holdings, Inc	$	2,275
	114,674		Mphasis Ltd		1,549
	947,400		My EG Services BHD		317
	852,000	*,†,e	National Agricultural Holdings Ltd		1
	187,473		NCC Group plc		402
	878,792	*,e	nearmap Ltd		1,536
	31,600		NEC Networks & System Integration Corp		861
	74,589		Nemetschek AG.		3,801
	129,700	e	NET One Systems Co Ltd		3,519
	31,358	*,g	Netcompany Group A.S.		1,250
	230,400	*,g	Network International Holdings plc		1,516
	81,922	*	New Relic, Inc		5,034
	189,370	*,e	NEXTDC Ltd		788
	473,244		NIC, Inc		9,772
	82,445	*	Nice Systems Ltd		11,883
	104,600		Nihon Unisys Ltd		3,381
	52,951		NIIT Technologies Ltd		1,043
	25,400		Nippon System Development Co Ltd		732
	321,819		Nomura Research Institute Ltd		6,431
	188,000	e	NS Solutions Corp		6,170
	259,781		NTT Data Corp		3,372
	359,834	*	Nuance Communications, Inc		5,869
	229,561	*	Nutanix, Inc		6,026
	11,800	e	OBIC Business Consultants Ltd		481
	58,497		Obic Co Ltd		6,703
	169,828	*	Okta, Inc		16,721
	94,846	*	OneSpan, Inc		1,375
	281,542		Open Text Corp		11,484
	4,000	*,e	Optim Corp		103
	2,940,289		Oracle Corp		161,804
	83,799		Oracle Corp Japan		7,305
	4,700	*,e	Oro Co Ltd		125
	145,457		Otsuka Corp		5,821
	16,253	*,e	Pagerduty, Inc		459
	92,014	*	Pagseguro Digital Ltd		4,261
	94,563	*	Palo Alto Networks, Inc		19,275
	534,682		Paychex, Inc		44,256
	110,156	*	Paycom Software, Inc		23,077
	167,298	*	Paylocity Holding Corp		16,325
	3,754,117	*	PayPal Holdings, Inc		388,889
	30,504	*,e	Paysign Inc		308
	127,984	e	Pegasystems, Inc		8,709
	33,155	*	Perficient, Inc		1,279
	46,335		Persistent Systems Ltd		373
	1,027,961		Perspecta, Inc		26,850
	7,000	*	PKSHA Technology, Inc		305
	100,633	*,e	Pluralsight, Inc		1,690
	29,067		POSDATA Co Ltd		123
	135,239		Presidio, Inc		2,286
	24,003	*	PRGX Global, Inc		124
	6,716	*,e	Priority Technology Holdings Inc		32
	290,551		Progress Software Corp		11,058
	1,009,072	*	Proofpoint, Inc		130,221

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	165,112	*	PROS Holdings, Inc	$	9,841
	328,177	*	PTC, Inc		22,375
	92,122	*,e	Pushpay Holdings Ltd		194
	45,376	*	Q2 Holdings, Inc		3,579
	11,321		QAD, Inc (Class A)		523
	35,606	*	Qualys, Inc		2,691
	23,400	e	Rakus Co Ltd		365
	158,666	*	Rapid7, Inc		7,202
	154,437	*,e	RealPage, Inc		9,708
	34,063		Reply S.p.A		2,000
	23,952		RIB Software AG.		554
	23,068	*	Rimini Street, Inc		101
	214,872	*	RingCentral, Inc		27,001
	656,664		Sabre Corp		14,706
	1,282,159		Sage Group plc		10,896
	91,286	*	SailPoint Technologies Holding, Inc		1,706
	36,066		Saipens International Corp NV		683
	4,649,773	*,n	salesforce.com, Inc		690,212
	57,907		Samsung SDS Co Ltd		9,215
	988,442		SAP AG.		116,313
	65,829		Science Applications International Corp		5,750
	9,707	*,e	SecureWorks Corp		126
	1,466,743	*	ServiceNow, Inc		372,333
	1,511,392		Shanghai 2345 Network Holding Group Co Ltd		701
	8,830	*,e	SharpSpring Inc		86
	317,401	*	SHIFT, Inc		15,778
	129,774	*	Shopify, Inc (Class A) (Toronto)		40,386
	7,859	*,e	ShotSpotter, Inc		181
	1,961,060		Silverlake Axis Ltd		653
	26,412		SimCorp AS		2,320
	201,600		Sinosoft Technology Group Ltd		46
	199,547	*	Smartsheet, Inc		7,190
	4,200		Softbank Technology Corp		77
	486,516		Softcat plc		5,994
	27,039		Software AG.		742
	98,754	*,e	SolarWinds Corp		1,822
	55,634	*,e	Solutions 30 SE		624
	17,191		Sonata Software Ltd		80
	224,108		Sonda S.A.		273
	193,926	g	Sophos Group plc		955
	9,446		Sopra Group S.A.		1,176
	45,500	e	Sourcenext Corp		201
	132,824	*	Splunk, Inc		15,655
	154,707	*	SPS Commerce, Inc		7,282
	434,789	*,e	Square, Inc		26,935
	500,586		SS&C Technologies Holdings, Inc		25,815
	16,718	*,e	StarTek, Inc		108
	332,988	*,e	StoneCo Ltd		11,581
	61,442		Sumisho Computer Systems Corp		2,891
	420,000		SUNeVision Holdings Ltd		314
	645,002	*	SVMK, Inc		11,030
	113,374	e	Switch, Inc		1,771
	73,578	*	Sykes Enterprises, Inc		2,254
	888,399		Symantec Corp		20,993

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,260	*,e	Synchronoss Technologies, Inc	$	212
	1,079,902	*	Synopsys, Inc		148,217
	50,500	e	Systena Corp		753
	265,000		Systex Corp		623
	961,773		Tata Consultancy Services Ltd		28,490
	52,277		Tata Elxsi Ltd		500
	741,943		Tech Mahindra Ltd		7,485
	761,435		Technology One Ltd		3,695
	46,076	*	Telaria, Inc		318
	103,079	*	TeleNav, Inc		493
	87,058		Temenos Group AG.		14,578
	313,499	*	Tenable Holdings, Inc		7,016
	3,019,173	*,n	Teradata Corp		93,594
	31,751	e	Tietoenator Oyj		813
	126,439		TiVo Corp		963
	10,300		TKC		448
	86,000		Totvus S.A.		1,195
	90,568	*	Trade Desk, Inc		16,986
	14,200	*	Trans Cosmos, Inc/Japan		343
	844,000		Travelsky Technology Ltd		1,753
	61,458		Trend Micro, Inc		2,937
	14,635		TTEC Holdings, Inc		701
	10,885	*,e	Tucows, Inc		590
	128,952	*,e	Twilio, Inc		14,180
	66,394	*	Tyler Technologies, Inc		17,428
	216,593	*,e	Unisys Corp		1,609
	6,700	e	UNITED, Inc		74
	23,101	*	Upland Software, Inc		805
	224,011		Vakrangee Ltd		96
	48,537	*	Varonis Systems, Inc		2,902
	288,316	*	Verint Systems, Inc		12,334
	204,063	*	VeriSign, Inc		38,492
	122,685	*,e	Verra Mobility Corp		1,761
	71,096	*,e	VirnetX Holding Corp		384
	40,564	*	Virtusa Corp		1,461
	4,836,883		Visa, Inc (Class A)		831,992
	75,385		VMware, Inc (Class A)		11,312
	142,700		Wangsu Science & Technology Co Ltd		200
	828,155		Western Union Co		19,188
	96,414	*	WEX, Inc		19,482
	1,686,509		Wipro Ltd		5,715
	127,524		Wirecard AG.		20,409
	141,386		Wisetech Global Ltd		3,323
	79,207	*	Wix.com Ltd		9,247
	158,309	*	Workday, Inc		26,906
	78,000	*	Workiva, Inc		3,419
	103,336	*,g	Worldline S.A.		6,510
	132	*	Xero Ltd		6
	18,500	*,e	Xunlei Ltd (ADR)		42
	95,677	*,e	Yext, Inc		1,520
	71,880		Yonyou Network Technology Co Ltd		312
	223,310	*	Zendesk, Inc		16,275
	27,085		Zensar Technologies Ltd		84

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	56,783	*	Zix Corp	$	411
	1,533,747	*,e,n	Zscaler, Inc		72,485
	91,924	*,e	Zuora Inc		1,383
			TOTAL SOFTWARE & SERVICES		10,738,224
TECHNOLOGY HARDWARE & EQUIPMENT - 4.8%
	123,153	*,e	3D Systems Corp		1,004
	1,783,522		AAC Technologies Holdings, Inc		9,409
	125,635	*,e	accesso Technology Group plc		1,338
	888,292		Accton Technology Corp		4,679
	2,097,762		Acer, Inc		1,203
	357,077		Adtran, Inc		4,051
	25,158	*	ADVA AG. Optical Networking		175
	20,000		Advanced Ceramic X Corp		165
	721,932		Advantech Co Ltd		6,350
	75,919	*	Agilysys, Inc		1,944
	21,200		Ai Holdings Corp		364
	9,522	*,e	Airgain Inc		112
	25,880	*,e	Akoustis Technologies, Inc		201
	228,705		Alps Electric Co Ltd		4,295
	23,405		ALSO Holding AG.		3,344
	30,400		Amano Corp		930
	558,826		Amphenol Corp (Class A)		53,927
	103,529	*	Anixter International, Inc		7,156
	126,500	e	Anritsu Corp		2,503
	2,796,000	*,†,e	Anxin-China Holdings Ltd		4
	11,463,609	d,n	Apple, Inc		2,567,505
	20,702	*,e	Applied Optoelectronics, Inc		232
	513,000		Arcadyan Technology Corp		1,517
	138,607	*,n	Arista Networks, Inc		33,116
	78,217	*	Arlo Technologies, Inc		267
	100,581	*	Arrow Electronics, Inc		7,501
	107,000		Asia Optical Co, Inc		270
	137,000		Asia Vital Components Co Ltd		168
	28,140		AstroNova Inc		455
	585,044		Asustek Computer, Inc		3,893
	38,000		Aten International Co Ltd		105
	6,921,893		AU Optronics Corp		1,748
	136,800		Aurora Corp		417
	81,069		Austria Technologie & Systemtechnik AG.		1,392
	315,894	*	Avid Technology, Inc		1,955
	321,309		Avnet, Inc		14,293
	49,516		AVX Corp		753
	30,042		Badger Meter, Inc		1,613
	32,962		Barco NV		6,510
	2,124		Basler AG.		96
	11,051		Bel Fuse, Inc (Class B)		166
	40,415		Belden CDT, Inc		2,156
	39,726		Benchmark Electronics, Inc		1,154
	7,496,000		Benq Corp		5,106
	10,801	*	BH Co Ltd		172
	1,387,000		BOE Technology Group Co Ltd		730
	522,159		Brother Industries Ltd		9,515
	523,500	e	BYD Electronic International Co Ltd		784

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	37,564	*	CalAmp Corp	$	433
	64,950	*	Calix, Inc		415
	4,666	*	Cambium Networks Corp		45
	198,000	†	Camsing International Holding Ltd		15
	11,400	*	Canon Electronics, Inc		194
	83,600		Canon Marketing Japan, Inc		1,782
	485,774		Canon, Inc		12,991
	164,800		Career Technology Co Ltd		194
	18,670	g	Carel Industries S.p.A		276
	37,610	*	Casa Systems, Inc		295
	80,943		Casetek Holdings Ltd		138
	1,291,857		Catcher Technology Co Ltd		9,780
	470,000		Catic Shenzhen Holdings Ltd		416
	613,780		CDW Corp		75,642
	146,588	*	Celestica, Inc		1,051
	11,100		Chaozhou Three-Circle Group Co Ltd		31
	177,602		Cheng Uei Precision Industry Co Ltd		199
	362,949		Chicony Electronics Co Ltd		1,069
	93,179		Chilisin Electronics Corp		252
	489,600	*,†	China Fiber Optic Network System Group Ltd		1
	4,728,000	*	China Innovationpay Group Ltd		302
	1,149,000	g	China Railway Signal & Communication Corp Ltd		711
	178,000		Chin-Poon Industrial Co		182
	169,840		Chroma ATE, Inc		805
	10,000		Chunghwa Precision Test Tech Co Ltd		253
	1,498,849	*	Ciena Corp		58,800
	12,975,408		Cisco Systems, Inc		641,115
	168,200	e	Citizen Watch Co Ltd		825
	9,965	*	Clearfield, Inc		118
	193,393		Clevo Co		196
	732,394	*	CMC Magnetics Corp		195
	23,400	e	CMK Corp		126
	4,766	*,e	Coda Octopus Group Inc		39
	280,025		Cognex Corp		13,758
	24,230	*	Coherent, Inc		3,725
	765,089	e	Comba Telecom Systems Holdings Ltd		178
	4,014		Comet Holding AG.		346
	251,774	*	CommScope Holding Co, Inc		2,961
	2,194,688		Compal Electronics, Inc		1,266
	491,000		Compeq Manufacturing Co		550
	197,250		Comtech Telecommunications Corp		6,411
	29,913		Concraft Holding Co Ltd		158
	236,600		Coretronic Corp		284
	1,192,046		Corning, Inc		33,997
	33,693		CTS Corp		1,090
	29,114		Daea TI Co Ltd		156
	371,045		Daeduck Electronics Co		3,363
	158,700		Daiwabo Co Ltd		6,615
	37,326		Daktronics, Inc		276
	1,681,000		Darfon Electronics Corp		2,135
	15,601	*	DASAN Zhone Solutions, Inc		143
	12,065	e	Datalogic S.p.A.		173
	303,605		DataTec Ltd		669

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	335,395	*	Dell Technologies, Inc	$	17,394
	5,116,988		Delta Electronics, Inc		21,862
	35,200		Denki Kogyo Co Ltd		999
	30,100	e	Dexerials Corp		224
	20,364		Dicker Data Ltd		109
	474,008	*	Diebold, Inc		5,309
	84,893	*	Digi International, Inc		1,156
	74,468		Dolby Laboratories, Inc (Class A)		4,814
	89,268	*	EchoStar Corp (Class A)		3,537
	30,000		Egis Technology, Inc		256
	9,171	e	Eizo Nanao Corp		322
	32,800		Elecom Co Ltd		1,289
	2,403,579		Electrocomponents plc		19,002
	7,600		Elematec Corp		70
	638,654		Elite Material Co Ltd		2,584
	25,807		Ennoconn Corp		182
	11,900		Enplas Corp		387
	14,477	*	ePlus, Inc		1,102
	3,015,918		Ericsson (LM) (B Shares)		24,086
	86,700		ESPEC Corp		1,517
	35,492		Evertz Technologies Ltd		446
	123,343	*	Extreme Networks, Inc		897
	202,846	*	F5 Networks, Inc		28,484
	129,527	*	Fabrinet		6,774
	17,470	*	FARO Technologies, Inc		845
	11,630,000	*,e	FIH Mobile Ltd		1,425
	177,358	*,e	Fingerprint Cards AB		359
	105,352		Firich Enterprises Co Ltd		128
	237,688	*,e	Fitbit, Inc		906
	736,339		FLEXium Interconnect, Inc		2,242
	254,084	e	Flir Systems, Inc		13,362
	49,310		Flytech Technology Co Ltd		115
	2,839,582		Foxconn Industrial Internet Co Ltd		5,749
	876,868		Foxconn Technology Co Ltd		1,829
	435,482		Fujifilm Holdings Corp		19,183
	127,000		General Interface Solution Holding Ltd		428
	31,000		Genius Electronic Optical Co Ltd		421
	1,593,000		Getac Technology Corp		2,399
	1,968,000		Gigabyte Technology Co Ltd		3,147
	12,434		Gilat Satellite Networks Ltd		106
	5,476,000	e	Glory Sun Financial Group Ltd		203
	90,900		GoerTek, Inc		224
	10,025	*	G-treeBNT Co Ltd		165
	20,000		Guangzhou Haige Communications Group, Inc Co		27
	497,985		Halma plc		12,054
	30,230		Hamamatsu Photonics KK		1,128
	362,600		Hangzhou Hikvision Digital Technology Co Ltd		1,644
	1,170,330		HannStar Display Corp		241
	318,212	*	Harmonic, Inc		2,094
	79,600		Hengtong Optic-electric Co Ltd		174
	4,393,491		Hewlett Packard Enterprise Co		66,649
	18,114		Hexagon AB (B Shares)		873
	318,000		High Tech Computer Corp		364
	4,400		Hioki EE Corp		149

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,053		Hirose Electric Co Ltd	$	2,840
	925,179		Hitachi High-Technologies Corp		53,781
	3,591,838		Hitachi Ltd		134,515
	33,100		Hochiki Corp		454
	64,470		Holystone Enterprise Co Ltd		190
	12,391,961		Hon Hai Precision Industry Co, Ltd		29,240
	20,995		Horiba Ltd		1,222
	147,800		Hosiden Corp		1,522
	1,349,166		HP, Inc		25,526
	95,700	e	Ibiden Co Ltd		1,932
	5,000		Icom, Inc		103
	61,756		IEI Integration Corp		105
	104,246	*,e,h	II-VI, Inc		3,671
	11,078		Iljin Materials Co Ltd		346
	34,845	*,e	Immersion Corp		267
	1,211,370		Inari Amertron BHD		527
	4,492		Inficon Holding AG.		2,913
	184,828	*,e	Infinera Corp		1,007
	130,254		Ingenico		12,695
	7,159,219		InnoLux Display Corp		1,522
	45,625	*,e	Inseego Corp		219
	188,763	*	Insight Enterprises, Inc		10,512
	366,000		Integrated Micro-Electronics, Inc		57
	32,969		InterDigital, Inc		1,730
	1,671,535		Inventec Co Ltd		1,153
	39,668	*	IPG Photonics Corp		5,379
	10,800		Iriso Electronics Co Ltd		522
	10,560		Isra Vision AG.		443
	7,400		ITC Networks Corp		93
	831,357		ITEQ Corp		4,048
	65,933	*	Iteris, Inc		379
	92,138	*	Itron, Inc		6,815
	53,655		Ituran Location and Control Ltd		1,330
	472,236		Jabil Circuit, Inc		16,892
	25,100		Japan Aviation Electronics Industry Ltd		358
	8,900	e	Japan Cash Machine Co Ltd		76
	376,200	*,e	Japan Display, Inc		211
	29,153		Jenoptik AG.		722
	551,068		Juniper Networks, Inc		13,639
	87,000		Kaga Electronics Co Ltd		1,567
	2,862	e	Kapsch TrafficCom AG.		97
	353,700		KCE Electronics PCL		192
	60,686		Kemet Corp		1,103
	43,429		Keyence Corp		27,033
	1,243,483	*	Keysight Technologies, Inc		120,929
	77,198	*	Kimball Electronics, Inc		1,120
	553,000		Kingboard Chemical Holdings Ltd		1,465
	1,083,500		Kingboard Laminates Holdings Ltd		977
	11,827	*	KMW Co Ltd		721
	210,204	*	Knowles Corp		4,276
	12,800		Koa Corp		158
	1,048,155		Konica Minolta Holdings, Inc		7,333
	17,721	e	Kudelski S.A.		110

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,000	*	KVH Industries, Inc	$	202
	262,099		Kyocera Corp		16,342
	37,791		Landis&Gyr Group AG.		3,387
	176,166		Largan Precision Co Ltd		25,199
	386,200	g	Legend Holdings Corp		832
	362		LEM Holding S.A.		432
	5,836,753		Lenovo Group Ltd		3,894
	165,100		Lens Technology Co Ltd		239
	12,291		LG Innotek Co Ltd		1,171
	560,491	*,e	LG.Philips LCD Co Ltd		6,630
	1,563,825		Lite-On Technology Corp		2,484
	39,724		Littelfuse, Inc		7,043
	288,834		Logitech International S.A.		11,737
	34,995		Lotes Co Ltd		306
	755,964	*	Lumentum Holdings, Inc		40,489
	145,175		Luxshare Precision Industry Co Ltd		545
	26,200		Macnica Fuji Electronics Holdings, Inc		339
	4,400		Maruwa Co Ltd		284
	27,600	e	Maxell Holdings Ltd		395
	128,600		Mcj Co Ltd		812
	9,300	*,e	Meiko Electronics Co		129
	2,175,500	*,e,g	Meitu, Inc		500
	4,200	*	Melco Holdings, Inc		105
	106,076		Merry Electronics Co Ltd		519
	154,576		Methode Electronics, Inc		5,200
	264,335	e	Micronic Laser Systems AB		3,270
	544,000		Micro-Star International Co Ltd		1,582
	936,278		Mitac Holdings Corp		789
	763,949		Motorola Solutions, Inc		130,185
	99,072		MTS Systems Corp		5,474
	537,075		Murata Manufacturing Co Ltd		26,031
	451,000		Nan Ya Printed Circuit Board Corp		736
	12,908	*	Napco Security Technologies, Inc		329
	709,633		National Instruments Corp		29,798
	275,267	*	NCR Corp		8,687
	104,047		NEC Corp		4,400
	66,189		Neopost S.A.		1,370
	226,729		NetApp, Inc		11,906
	31,293	*	Netgear, Inc		1,008
	76,836	*	Netscout Systems, Inc		1,772
	39,412	*	Newmax Technology Co Ltd		135
	358,426		Nichicon Corp		3,288
	4,600		Ninestar Corp		19
	12,800		Nippon Ceramic Co Ltd		324
	8,100		Nippon Chemi-Con Corp		120
	58,497		Nippon Electric Glass Co Ltd		1,308
	136,400		Nippon Signal Co Ltd		1,529
	23,660		Nissha Printing Co Ltd		236
	33,366	*	nLight, Inc		523
	12,200		Nohmi Bosai Ltd		234
	8,479,819	e	Nokia Corp		42,908
	4,348,022		Nokia Oyj (Turquoise)		21,959
	10,100	e	Noritsu Koki Co Ltd		160
	75,842	*	Novanta, Inc		6,198

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	135,200	*	O-film Tech Co Ltd	$	226
	2,600	e	Ohara, Inc		36
	352,000		Oki Electric Industry Co Ltd		4,807
	229,186		Omron Corp		12,629
	18,100		Optex Co Ltd		271
	132,200		Osaki Electric Co Ltd		809
	17,787	*	OSI Systems, Inc		1,806
	175,224		Pan-International Industrial		132
	11,798	*,e	PAR Technology Corp		280
	41,691		Park Aerospace Corp		732
	23,985		Partron Co Ltd		256
	1,981,000	e	PAX Global Technology Ltd		891
	15,022		PC Connection, Inc		584
	1,505,917		Pegatron Technology Corp		2,621
	35,243		Plantronics, Inc		1,315
	29,732	*	Plexus Corp		1,859
	1,450,000		Primax Electronics Ltd		2,761
	1,186,000		Prime View International Co Ltd		1,074
	1,265,689	*	Pure Storage, Inc		21,441
	2,136,338		Quanta Computer, Inc		3,897
	95,000		Quanta Storage, Inc		128
	110,998	*	Radware Ltd		2,693
	311,615		Redington India Ltd		517
	21,012		Renishaw plc		946
	141,773	*	Ribbon Communications, Inc		828
	419,392		Ricoh Co Ltd		3,794
	9,879	*,†	Ricoh India Ltd		0	^
	8,500		Riken Keiki Co Ltd		164
	12,000		Riso Kagaku Corp		184
	594,202	*	Ritek Corp		168
	19,430	*	Rogers Corp		2,656
	7,000		Roland DG Corp		130
	79,000		Ryosan Co Ltd		2,016
	57,800		Ryoyo Electro Corp		991
	26,787		S&T AG.		532
	2,555	e	SAES Getters S.p.A.		65
	113,192	e	Samsung Electro-Mechanics Co Ltd		9,740
	147,731		Samsung SDI Co Ltd		27,503
	3,816		Samwha Capacitor Co Ltd		157
	575,180	*	Sanmina Corp		18,469
	25,900		Sanshin Electronics Co Ltd		362
	26,961	*	Scansource, Inc		824
	1,994		Seagate Technology, Inc		107
	174,476	e	Seiko Epson Corp		2,478
	5,672	*,e,g	Sensirion Holding AG.		251
	348,000		Sercomm Corp		886
	17,548		Sesa S.p.A		767
	76,826		SFA Engineering Corp		2,712
	45,673		Shimadzu Corp		1,161
	47,199	*	Sierra Wireless, Inc		504
	17,200	e	Siix Corp		235
	797,600		Simplo Technology Co Ltd		6,677
	237,123		Sinbon Electronics Co Ltd		920

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,259		Sindoh Co Ltd	$	75
	57,523	e	Smart Metering Systems plc		284
	73,896	*,e	Sonim Technologies Inc		217
	66,393		Spectris plc		1,993
	45,555		Sterlite Technologies Ltd		101
	52,417	*,e	Stratasys Ltd		1,117
	1,916,600		Sunny Optical Technology Group Co Ltd		28,134
	2,853,000		Supreme Electronics Co Ltd		2,666
	35,702	*	Synaptics, Inc		1,426
	47,250		Syncmold Enterprise Corp		117
	68,745		Synnex Corp		7,761
	868,238		Synnex Technology International Corp		1,015
	28,135	*	Taihan Fiberoptics Co Ltd		95
	118,000		Taiwan Union Technology Corp		539
	1,004,003	e	Taiyo Yuden Co Ltd		24,623
	37,500		Tamura Corp		202
	129,600		TDK Corp		11,715
	763,929		TE Connectivity Ltd		71,183
	100,376	*	Tech Data Corp		10,463
	36,594	*	TELCON, Inc		153
	1		Telefonaktiebolaget Lm Ericsson (ADR)		0	^
	6,337		Tessco Technologies, Inc		91
	73,495		Test Research, Inc		117
	32,000		Thinking Electronic Industrial Co Ltd		84
	79,200		Tianma Microelectronics Co Ltd		154
	45,129	*,e	Tobii AB		167
	78,625		Tong Hsing Electronic Industries Ltd		319
	1,820,000	e	Tongda Group Holdings Ltd		128
	59,600		Topcon Corp		796
	117,400		Toshiba TEC Corp		3,485
	181,000		TPK Holding Co Ltd		326
	506,000		Tpv Technology Ltd		240
	85,000		Transcend Information, Inc		176
	328,040	*	Trimble Navigation Ltd		12,731
	1,395,832		Tripod Technology Corp		5,018
	766,000	*	Truly International Holdings		107
	100,259	*	TTM Technologies, Inc		1,223
	147,039		TXC Corp		185
	74,243	e	Ubiquiti, Inc		8,780
	8,999,883		Unimicron Technology Corp		12,664
	52,700		Unisplendour Corp Ltd		232
	273,500		Unitech Printed Circuit Board Corp		312
	15,100	e	V Technology Co Ltd		739
	335,267		Venture Corp Ltd		3,718
	96,589	*,e	Viasat, Inc		7,275
	240,101	*	Viavi Solutions, Inc		3,363
	168,670		Vishay Intertechnology, Inc		2,856
	94,236	*	Vishay Precision Group, Inc		3,085
	708,775		VS Industry BHD		229
	818,800		VST Holdings Ltd		424
	94,700		Vtech Holdings Ltd		827
	82,600		Wacom Co Ltd		269
	608,000		Wah Lee Industrial Corp		1,036
	843,000		Walsin Technology Corp		4,745

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	224,000		Wasion Group Holdings Ltd	$	85
	759,560		Western Digital Corp		45,300
	190,500	*,†,b	Wintek Corp		0	^
	1,740,302		Wistron Corp		1,404
	1,882,556		Wistron NeWeb Corp		4,953
	1,208,473		WPG Holdings Co Ltd		1,487
	7,815	*,e	Wrap Technologies Inc		32
	2,345,956		WT Microelectronics Co Ltd		2,930
	182,414		Xerox Holdings Corp		5,456
	5,806,800	*,e,g	Xiaomi Corp		6,518
	15,750	*,†	Ya Hsin Industrial Co Ltd		0
	260,660	*	Yageo Corp		2,071
	66,786	e	Yamatake Corp		1,794
	53,700		Yaskawa Electric Corp		1,993
	78,438	e	Yokogawa Electric Corp		1,441
	105,084	*	Zebra Technologies Corp (Class A)		21,686
	86,500		Zhejiang Dahua Technology Co Ltd		210
	2,102,405		Zhen Ding Technology Holding Ltd		7,526
	143,900	*	ZTE Corp		645
	562,338	*	ZTE Corp (Class H)		1,491
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5,371,642
TELECOMMUNICATION SERVICES - 2.2%
	3,499,789		Advanced Info Service PCL (Foreign)		25,195
	94,375		AFK Sistema (GDR)		365
	459,000		AFK Sistema (GDR)		1,773
	36,118,984		America Movil S.A. de C.V. (Series L)		26,795
	72,319	*	Anterix, Inc		2,618
	17,900	*	ARTERIA Networks Corp		241
	1,001,000	*	Asia Pacific Telecom Co Ltd		195
	16,758,747		AT&T, Inc		634,151
	12,145		ATN International, Inc		709
	17,557	*	Bandwidth Inc		1,143
	225,026		BCE, Inc		10,884
	1,256,748		Bezeq Israeli Telecommunication Corp Ltd		833
	2,514,558		Bharti Airtel Ltd		13,035
	583,739		Bharti Infratel Ltd		2,121
	72,037	*	Boingo Wireless, Inc		800
	8,744,095		BT Group plc		19,179
	231,388	*	Cellcom Israel Ltd		650
	676,550	g	Cellnex Telecom SAU		27,944
	1,849,453		CenturyLink, Inc		23,081
	6,944,249		China Mobile Hong Kong Ltd		57,524
	21,528,457		China Telecom Corp Ltd		9,803
	44,820,000	g	China Tower Corp Ltd		10,172
	23,611,681		China Unicom Ltd		24,997
	1,516,600		China United Network Communications Ltd		1,278
	379,454	e	Chorus Ltd		1,200
	3,543,988		Chunghwa Telecom Co Ltd		12,674
	126,415	*	Cincinnati Bell, Inc		641
	9,586,000		Citic 1616 Holdings Ltd		3,484
	63,354		Cogent Communications Group, Inc		3,491
	78,017		Consolidated Communications Holdings, Inc		371

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,917,538		Deutsche Telekom AG.	$	65,709
	3,178,339		Digi.Com BHD		3,605
	43,426		DNA Oyj		989
	1,820		Drillisch AG.		57
	322,521		Elisa Oyj (Series A)		16,627
	1,540,998		Emirates Telecommunications Group Co PJSC		6,922
	153,242	*	Empresa Nacional de Telecomunicaciones S.A.		1,343
	1,629,629	*	Etihad Etisalat Co		10,481
	136,213	g	Euskaltel S.A.		1,210
	1,302,236		Far EasTone Telecommunications Co Ltd		3,042
	73,309		Freenet AG.		1,509
	80,256		Globe Telecom, Inc		2,834
	60,486	*,e	Gogo, Inc		365
	196,008		Hellenic Telecommunications Organization S.A.		2,700
	1,616,768		Himachal Futuristic Communications		411
	1,998,000		HKBN Ltd		3,682
	5,146,492		HKT Trust and HKT Ltd		8,164
	808,651		Hutchison Telecommunications Hong Kong Holdings Ltd		136
	7,072,194	*	Idea Cellular Ltd		614
	161,085	*,e	IDT Corp (Class B)		1,696
	103,303	e	Iliad S.A.		9,702
	138,576	g	Infrastrutture Wireless Italiane S.p.A		1,438
	400,543		Inmarsat plc		2,882
	31,654	*	Inscobee, Inc		77
	116,019	*	Intelsat S.A.		2,645
	42,200		Internet Initiative Japan, Inc		962
	1,951,400		Intouch Holdings PCL (Class F)		4,182
	128,365	*	Iridium Communications, Inc		2,732
	11,693,100		Jasmine International PCL		2,450
	1,708,597		KDDI Corp		44,582
	1,981,347		Koninklijke KPN NV		6,175
	222,725	*,†,e	Let’s GOWEX S.A.		2
	169,511		LG Telecom Ltd		1,932
	1,474,082		Magyar Telekom		2,111
	348,734	*	Masmovil Ibercom S.A.		7,080
	1,868,190		Maxis BHD		2,498
	2,370		Millicom International Cellular S.A.		115
	127,901	*	Mobile Telecommunications Co Saudi Arabia		408
	901,918		Mobile TeleSystems (ADR)		7,306
	89,048		Mobistar S.A.		1,838
	1,516,315	e	MTN Group Ltd		9,648
	6,999,400		NetLink NBN Trust		4,507
	1,179,202		Nippon Telegraph & Telephone Corp		56,417
	2,027,917		NTT DoCoMo, Inc		51,782
	22,440	*	Ooma, Inc		233
	1,456,395	*	Ooredoo QSC		2,890
	1,459,669		Orange S. A.		22,847
	74,487	*	Orbcomm, Inc		355
	109,939	*,e	Pareteum Corp		142
	66,077	*	Partner Communications		322
	4,698,741		PCCW Ltd		2,638
	329,429	g	PLAY Communications S.A.		2,261
	170,872		PLDT, Inc		3,745

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,973		Proximus plc	$	1,009
	2,175,200		PT Link Net Tbk		628
	69,222,124		PT Telekomunikasi Indonesia Persero Tbk		20,904
	372,904		Rogers Communications, Inc (Class B)		18,163
	78,048		Rostelecom (ADR)		573
	44,673,473		Safaricom plc		11,830
	532,052		Saudi Telecom Co		15,425
	152,068	*	Sejong Telecom, Inc		50
	174,782		Shenandoah Telecom Co		5,553
	9,144,937		Singapore Telecommunications Ltd		20,593
	14,521		SK Telecom Co Ltd		2,926
	201,641		SmarTone Telecommunications Holding Ltd		175
	1,084,539	e	Softbank Corp		14,695
	1,885,408		Softbank Group Corp		74,399
	128,684	e	SpeedCast International Ltd		107
	18,518		Spok Holdings, Inc		221
	1,226,758	*	Sprint Corp		7,569
	760,500	e	StarHub Ltd		715
	19,384	g	Sunrise Communications Group AG.		1,508
	3,509	e	Swisscom AG.		1,731
	1,556,942		Taiwan Mobile Co Ltd		5,621
	396,971		TalkTalk Telecom Group plc		512
	35,794	*,†	Tata Communications Ltd		84
	35,794		Tata Communications Ltd		189
	17,422	e	Tele2 AB (B Shares)		259
	71,400	e	Telecom Argentina S.A. (ADR) (Class B)		714
	2,053,404		Telecom Corp of New Zealand Ltd		5,672
	1,002,160		Telecom Egypt		738
	198,730		Telecom Italia RSP		109
	298,563	*	Telecom Italia S.p.A.		170
	983,699	*	Telefonica Brasil S.A.		13,007
	791,346		Telefonica Deutschland Holding AG.		2,206
	5,574,948		Telefonica S.A.		42,599
	129,932		Telekom Austria AG.		945
	1,415,183		Telekom Malaysia BHD		1,217
	559,670	*	Telekomunikacja Polska S.A.		771
	817,950		Telenor ASA		16,411
	885,924		Telephone & Data Systems, Inc		22,857
	657,701	*,e	Telesites SAB de C.V.		435
	4,456,373		TeliaSonera AB		19,936
	201,837		Telkom S.A. Ltd		941
	6,838,296		Telstra Corp Ltd		16,210
	230,402		TELUS Corp		8,200
	1,354,284		Tim Participacoes S.A.		3,882
	213,720		Time dotCom BHD		466
	2,014,815		TM International BHD		2,069
	809,982	*	T-Mobile US, Inc		63,802
	1,546,000		Total Access Communication PCL (Foreign)		2,906
	852,400		Tower Bersama Infrastructure		368
	385,426		TPG Telecom Ltd		1,806
	8,055,392		True Corp PCL (Foreign)		1,382
	1,456,878		Turkcell Iletisim Hizmet AS		3,354
	4,026		United Internet AG.		143

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,475	*	US Cellular Corp	$	1,183
	11,078,741		Verizon Communications, Inc		668,713
	253,800	*,e	Vision, Inc		3,682
	359,057	*	Vocus Communications Ltd		844
	524,594		Vodacom Group Pty Ltd		4,149
	38,818,856		Vodafone Group plc		77,339
	155,300		Vodafone Group plc (ADR)		3,092
	852,435		Vodafone Qatar		293
	1,027,443	*	Vonage Holdings Corp		11,610
	10,037	*,e	Windstream Holdings, Inc		2
	564,795	*	Zayo Group Holdings, Inc		19,147
			TOTAL TELECOMMUNICATION SERVICES		2,537,156
TRANSPORTATION - 2.0%
	52,528	†,e	Abertis Infraestructuras S.A. (Continuous)		1,051
	57,828		Aegean Airlines S.A.		511
	93,780	g	Aena S.A.		17,167
	54,380	g	Aeroflot PJSC (GDR)		418
	22,718		Aeroports de Paris		4,041
	4,789,918		Air Arabia PJSC		1,630
	134,243	*	Air Canada		4,378
	158,300		Air China Ltd		178
	1,677,225		Air China Ltd (H shares)		1,472
	579,723	*	Air France-KLM		6,066
	433,604		Air New Zealand Ltd		761
	61,444	*	Air Transport Services Group, Inc		1,292
	1,235,000		AirAsia BHD		519
	5,667,100		Airports of Thailand PCL (Foreign)		13,857
	410,787		Alaska Air Group, Inc		26,664
	651,487	e,g	ALD S.A.		9,300
	82,506		All Nippon Airways Co Ltd		2,780
	13,786		Allegiant Travel Co		2,063
	17,822		Amerco, Inc		6,951
	946,160		American Airlines Group, Inc		25,518
	172,000		Anhui Expressway Co		96
	3,201		AP Moller - Maersk AS (Class A)		3,413
	5,703		AP Moller - Maersk AS (Class B)		6,447
	110,210		Arkansas Best Corp		3,356
	1,405,300		Asia Aviation PCL		140
	382,177	*	Asiana Airlines		1,642
	23,902	*	Atlas Air Worldwide Holdings, Inc		603
	392,635		Atlas Arteria Ltd		2,070
	1,043,315		Auckland International Airport Ltd		5,982
	123,116		Autostrada Torino-Milano S.p.A.		3,937
	489,242		Autostrade S.p.A.		11,824
	167,835		Avianca Holdings S.A.		73
	62,740	*	Avis Budget Group, Inc		1,773
	248,600	*	Azul S.A.		2,974
	339,900		Bangkok Airways Co Ltd		97
	99,200		Bangkok Aviation Fuel Services PCL		107
	6,110,453		Bangkok Expressway & Metro PCL		2,159
	685,805		BBA Aviation plc		2,631
	1,644,097		Beijing Capital International Airport Co Ltd		1,403
	6,733		Blue Dart Express Ltd		236

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	671,997		Bollore	$	2,783
	57,665	e	bpost S.A.		604
	4,637,227		BTS Group Holdings PCL		2,032
	762,045		Canadian National Railway Co		68,425
	137,939		Canadian Pacific Railway Ltd (Toronto)		30,654
	348,000	*	CAR, Inc		268
	135,660	e	Cathay Pacific Airways Ltd		169
	601,330		Cebu Air, Inc		1,044
	211,073		Central Japan Railway Co		43,525
	203,881		CH Robinson Worldwide, Inc		17,285
	1,326,335		China Airlines		388
	2,263,500	*	China COSCO Holdings Co Ltd		806
	379,300	*	China Eastern Airlines Corp Ltd		275
	986,000	*	China Eastern Airlines Corp Ltd (H Shares)		478
	1,306,645		China Merchants Holdings International Co Ltd		1,965
	1,384,000		China Shipping Development Co Ltd		613
	5,383,500	e	China Southern Airlines Co Ltd		3,256
	298,900		China Southern Airlines Co Ltd (Class A)		278
	100,610	e	Chorus Aviation, Inc		582
	2,004,199		Cia de Concessoes Rodoviarias		8,321
	219,637		Cia de Distribucion Integral Logista Holdings SAU		4,280
	310,300		Cia de Locacao das Americas		3,786
	1,822,605		ComfortDelgro Corp Ltd		3,167
	12,726,288	*	Compania SudAmericana de Vapores S.A.		442
	180,704		Container Corp Of India Ltd		1,543
	372,500	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		371
	70,186		Copa Holdings S.A. (Class A)		6,931
	14,837	*,e	Corp America Airports S.A.		67
	67,963	*	Cosan Logistica S.A.		342
	606,200	*	Cosco Corp Singapore Ltd		121
	1,212,000		Cosco International Holdings Ltd		311
	1,560,271		COSCO Pacific Ltd		1,246
	36,900	*	COSCO SHIPPING Holdings Co Ltd		25
	71,724		Costamare, Inc		435
	88,230	*	Covenant Transportation Group, Inc		1,450
	2,881,303		CSX Corp		199,588
	69,875	e	CTT-Correios de Portugal S.A.		162
	19,871	e	D/S Norden		271
	625,200		Daqin Railway Co Ltd		665
	494,032		Dart Group plc		5,558
	165,813	*,e	Daseke, Inc		415
	1,604,853		Delta Air Lines, Inc		92,440
	876,175		Deutsche Lufthansa AG.		13,909
	737,148		Deutsche Post AG.		24,566
	23,429	*,e	Dfds A.S.		850
	294,944		DP World Ltd		4,123
	838,281		DSV AS		79,679
	44,665	*,e	Eagle Bulk Shipping, Inc		195
	352,142		East Japan Railway Co		33,673
	313,167		easyJet plc		4,420
	119,063	*	Echo Global Logistics, Inc		2,697
	1,245,900		EcoRodovias Infraestrutura e Logistica S.A.		4,228
	670,855	g	Enav S.p.A		3,788

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	61,414	e,g	Europcar Groupe S.A.	$	341
	1,085,328		Eva Airways Corp		477
	227,000		Evergreen International Storage & Transport Corp		100
	1,697,115	*	Evergreen Marine Corp Tawain Ltd		711
	25,158	e	Exchange Income Corp		787
	45,452		Expeditors International of Washington, Inc		3,377
	351,581		FedEx Corp		51,180
	66,005		Finnair Oyj		461
	840,353	*	Firstgroup plc		1,421
	15,025		Flughafen Zuerich AG.		2,781
	87,553		Forward Air Corp		5,579
	39,170		Fraport AG. Frankfurt Airport Services Worldwide		3,320
	18,600		Fukuyama Transporting Co Ltd		657
	18,283	*,e	Genco Shipping & Trading Ltd		168
	233,256	*	Genesee & Wyoming, Inc (Class A)		25,777
	25,850		GLOVIS Co Ltd		3,367
	142,868		Go-Ahead Group plc		3,538
	461,200	*	Gol Linhas Aereas Inteligentes S.A.		3,585
	20,200	e	Gol Linhas Aereas Inteligentes S.A. (ADR)		312
	90,277	e	Golden Ocean Group Ltd		524
	761,939		Grindrod Ltd		226
	386,026		Groupe Eurotunnel S.A.		5,796
	184,900	*,e	Grupo Aeromexico SAB de C.V.		135
	171,000		Grupo Aeroportuario del Centro Norte Sab de C.V.		1,015
	492,731		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		4,742
	297,220		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		4,543
	356,700		Guangshen Railway Co Ltd		154
	205,281		Gujarat Pipavav Port Ltd		249
	389,630		Gulf Warehousing Co		537
	20,600		Hamakyorex Co Ltd		665
	88,925		Hamburger Hafen und Logistik AG.		2,215
	16,305		Hanjin Kal Corp		370
	3,845		Hanjin Transportation Co Ltd		100
	77,221		Hankyu Hanshin Holdings, Inc		2,986
	48,948		Hawaiian Holdings, Inc		1,285
	197,057		Heartland Express, Inc		4,239
	106,244	*	Hertz Global Holdings, Inc		1,470
	25,800		Hitachi Transport System Ltd		756
	6,827		Hopewell Highway Infrastructure Ltd		3
	247,548	*	Hub Group, Inc (Class A)		11,511
	9,180,500	e	Hutchison Port Holdings Trust		1,434
	119,411	*,e	Hyundai Merchant Marine Co Ltd		361
	1,623	*	ID Logistics Group		286
	45,457		Iino Kaiun Kaisha Ltd		145
	77,893	e	Imperial Holdings Ltd		268
	292,135	*,g	InterGlobe Aviation Ltd		7,801
	3,118		International Consolidated Airlines Group S.A.		18
	954,777		International Container Term Services, Inc		2,222
	126,114		Japan Airlines Co Ltd		3,745
	142,950	e	Japan Airport Terminal Co Ltd		6,223
	33,284		JB Hunt Transport Services, Inc		3,683
	4,449		Jeju Air Co Ltd		91

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	688,036	*	JetBlue Airways Corp	$	11,525
	1,201,834		Jiangsu Express		1,526
	5,741		Jin Air Co Ltd		72
	48,892		John Menzies plc		243
	29,800		Julio Simoes Logistica S.A.		123
	116,244		Kamigumi Co Ltd		2,641
	91,420		Kansas City Southern Industries, Inc		12,160
	370,240	*,e	Kawasaki Kisen Kaisha Ltd		4,338
	40,436		Keihin Electric Express Railway Co Ltd		787
	62,259		Keio Corp		3,888
	39,971	e	Keisei Electric Railway Co Ltd		1,650
	1,251,149		Kerry Logistics Network Ltd		2,001
	163,722		Kintetsu Corp		8,546
	21,500		Kintetsu World Express, Inc		304
	312,363	*	Kirby Corp		25,664
	604,829	e	Knight-Swift Transportation Holdings, Inc		21,955
	14,600		Konoike Transport Co Ltd		217
	8,805	*	Korea Express Co Ltd		1,062
	5,976	*	Korea Line Corp		110
	39,200		Korean Air Lines Co Ltd		750
	53,656		Kuehne & Nagel International AG.		7,896
	57,591		Kyushu Railway Co		1,838
	243,351		Lan Airlines S.A.		2,689
	61,657		Landstar System, Inc		6,941
	472,811		Localiza Rent A Car		5,173
	477,322	*,e	Lyft, Inc (Class A)		19,494
	141,032		Macquarie Infrastructure Co LLC		5,567
	267,540		MacroAsia Corp		97
	1,114,106		Malaysia Airports Holdings BHD		2,301
	267,240		Marten Transport Ltd		5,553
	36,800	e	Maruwa Unyu Kikan Co Ltd		916
	58,000		Maruzen Showa Unyu Co Ltd		1,620
	44,522		Matson, Inc		1,670
	21,277	*	Mesa Air Group, Inc		143
	2,861,156		MISC BHD		5,339
	51,950	e	Mitsubishi Logistics Corp		1,325
	100,302		Mitsui OSK Lines Ltd		2,550
	104,722		Mitsui-Soko Co Ltd		1,628
	64,900		Movida Participacoes S.A.		241
	1,566,378		MTR Corp		8,784
	129,974	e	Mullen Group Ltd		856
	508,482	*	Mundra Port and Special Economic Zone Ltd		2,973
	152,857		Nagoya Railroad Co Ltd		4,580
	58,900		Nankai Electric Railway Co Ltd		1,496
	1,062,999		National Express Group plc		5,659
	435,900		Ningbo Zhoushan Port Co Ltd		228
	32,146		Nippon Express Co Ltd		1,646
	50,600		Nippon Konpo Unyu Soko Co Ltd		1,158
	19,656		Nippon Yusen Kabushiki Kaisha		330
	34,400	e	Nishi-Nippon Railroad Co Ltd		757
	6,500		Nissin Corp		94
	573,382	g	Nobina AB		3,583
	474,355		Norfolk Southern Corp		85,223

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	73,153		Northgate plc	$	297
	182,668	*,e	Norwegian Air Shuttle AS		722
	70,803		Odakyu Electric Railway Co Ltd		1,701
	87,264	e	Oesterreichische Post AG.		3,063
	111,518		Old Dominion Freight Line		18,955
	2,426,290		Pacific Basin Shipping Ltd		495
	2,681	*	PAM Transportation Services, Inc		158
	8,129		Park-Ohio Holdings Corp		243
	15,437	*	Pegasus Hava Tasimaciligi AS.		166
	14,106		Piraeus Port Authority		362
	57,109		PKP Cargo S.A.		353
	153,400		Pos Malaysia & Services Holdings BHD		60
	318,150	*	Precious Shipping PCL		89
	215,437		Promotora y Operadora de Infraestructura SAB de C.V.		1,932
	1,977,654		PT Jasa Marga Tbk		794
	12,718,000	*	PT Trada Maritime Tbk		91
	125,886		Qantas Airways Ltd		535
	774,510		Qatar Navigation QSC		1,402
	2,178,589		QR National Ltd		8,685
	829,524		Qube Logistics Holdings Ltd		1,794
	251,861	*	Radiant Logistics, Inc		1,302
	666,158		Redde plc		939
	3,725	*,e	Roadrunner Transportation Systems Inc		39
	517,930		Royal Mail plc		1,345
	1,336,800	*	Rumo S.A.		7,883
	37	*	Ryanair Holdings plc		0	^
	13,339		Ryder System, Inc		691
	818,229	*,e	Safe Bulkers, Inc		1,432
	67,600		Sagami Railway Co Ltd		1,771
	27,249	*	Saia, Inc		2,553
	96	*,†	SAir Group		0
	6,200		Sakai Moving Service Co Ltd		357
	232,200		Sankyu, Inc		12,105
	127,000		Santos Brasil Participacoes S.A.		195
	110,204	*,e	SAS AB		140
	31,178	*	Saudi Public Transport Co		137
	36,600		SBS Holdings, Inc		533
	93,621		Schneider National, Inc		2,033
	53,494		Scorpio Bulkers, Inc		325
	41,910	e	Seaspan Corp		445
	132,717		Seibu Holdings, Inc		2,317
	669,081		Seino Holdings Corp		8,400
	163,300		Senko Co Ltd		1,276
	39,800		SF Holding Co Ltd		220
	250,420	e	SG Holdings Co Ltd		6,137
	67,000		Shandong Airlines Co Ltd		68
	54,700		Shanghai International Airport Co Ltd		613
	312,500		Shanghai International Port Group Co Ltd		250
	77,200		Shanghai Jinjiang International Investment Holdings Co		73
	941,754		Shenzhen International Holdings Ltd		1,808
	78,000		Shinwa Kaiun Kaisha Ltd		1,626
	162,700		SIA Engineering Co Ltd		304

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	127,720		Sincere Navigation	$	66
	374,251		Singapore Airlines Ltd		2,475
	825,874		Singapore Airport Terminal Services Ltd		2,896
	866,019	e	Singapore Post Ltd		611
	2,493,000		Sinotrans Ltd		781
	3,344,000		SITC International Co Ltd		3,445
	7,873		Sixt AG.		754
	38,561		Sixt AG. (Preference)		2,535
	7,087		Sixt Leasing AG.		93
	150,340		Skywest, Inc		8,630
	164,427		Societa Iniziative Autostradali e Servizi S.p.A.		2,867
	1,122,589		Southwest Airlines Co		60,631
	1,235,028	*	SpiceJet Ltd		2,184
	342,630	*	Spirit Airlines, Inc		12,437
	251,795		Stagecoach Group plc		414
	12,450		Stolt-Nielsen S.A.		143
	228,957	*	STX Pan Ocean Co Ltd		874
	33,683		Sumitomo Warehouse Co Ltd		446
	1,038,056		Sydney Airport		5,633
	2,123,000		Taiwan High Speed Rail Corp		2,415
	145,029		TAV Havalimanlari Holding AS		605
	70,000		Tegma Gestao Logistica		527
	211,882		TFI International, Inc		6,487
	457,000	*	Thai Airways International PCL (Foreign)		136
	802,000		Tianjin Port Development Holdings Ltd		73
	257,986	e	TNT NV		572
	169,295		Tobu Railway Co Ltd		5,500
	1,250,497		Tokyu Corp		23,524
	9,500		Tonami Holdings Co Ltd		406
	74,186		Tourism Holdings Ltd		197
	9,700		Trancom Co Ltd		563
	2,550,210		Transurban Group (ASE)		25,317
	428,811	*	Turk Hava Yollari		938
	278,330	*,e	Uber Technologies, Inc		8,481
	203,000		U-Ming Marine Transport Corp		219
	2,373,703		Union Pacific Corp		384,492
	653,857	*	United Continental Holdings, Inc		57,807
	98,782		United International Transportation Co		928
	1,184,822		United Parcel Service, Inc (Class B)		141,965
	54,988		Universal Truckload Services, Inc		1,280
	24,210	*,e	US Xpress Enterprises, Inc		117
	60,603	*	Virgin Australia Holdings Ltd		7
	67,336	*,†	Virgin Australia Int Holdings		0	^
	223,000		Wan Hai Lines Ltd		131
	139,829		Werner Enterprises, Inc		4,936
	278,509		West Japan Railway Co		23,565
	73,170		WestJet Airlines Ltd		1,690
	1,944,700		Westports Holdings BHD		1,917
	59,123	e	Westshore Terminals Investment Corp		913
	57,064		Wilh. Wilhelmsen ASA		133
	165,033		Wisdom Marine Lines Co Ltd		160
	392,000		Xiamen International Port Co Ltd		50
	71,574	*,e	XPO Logistics, Inc		5,123

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	127,113		Yamato Transport Co Ltd	$	1,920
	497,523	*	Yang Ming Marine Transport		125
	114,245	*,e	YRC Worldwide, Inc		345
	464,000		Yuexiu Transport Infrastructure Ltd		401
	45,300		Yunda Holding Co Ltd		219
	1,386,194		Zhejiang Expressway Co Ltd		1,199
	449,300		ZTO Express Cayman, Inc (ADR)		9,584
			TOTAL TRANSPORTATION		2,246,818
UTILITIES - 3.1%
	3,567,305		A2A S.p.A.		6,547
	1,627,510		Aboitiz Power Corp		1,203
	33,948	e	Acciona S.A.		3,593
	168,941		ACEA S.p.A.		3,373
	947,998		Actelios S.p.A.		4,012
	367,954	*	Adani Power Ltd		334
	133,887	*	Adani Transmissions Ltd		433
	759,147		AES Corp		12,404
	9,199,575		AES Gener S.A.		2,000
	88,957	*	AES Tiete S.A.		261
	348,364	*,†	AET&D Holdings No 1 Ptd Ltd		0
	1,170,392		AGL Energy Ltd		15,141
	5,270,042		Aguas Andinas S.A.		2,882
	761,535	e	Algonquin Power & Utilities Corp		10,427
	122,280		Allete, Inc		10,688
	1,542,457		Alliant Energy Corp		83,185
	258,435	e	AltaGas Ltd		3,794
	596,010		Alupar Investimento S.A.		3,628
	559,276		Ameren Corp		44,770
	1,035,301		American Electric Power Co, Inc		96,997
	38,488		American States Water Co		3,459
	28,875		American Water Works Co, Inc		3,587
	1,173,480		APA Group (ASE)		9,088
	63,468		Aqua America, Inc		2,845
	99,663	*	AquaVenture Holdings Ltd		1,936
	9,143		Artesian Resources Corp		338
	41,990		Ascopiave S.p.A.		177
	111,949		Atco Ltd		4,097
	119,100		Athens Water Supply & Sewage Co S.A.		1,035
	568,602	*,e	Atlantic Power Corp		1,331
	509,787		Atmos Energy Corp		58,060
	2,894,333		AusNet Services		3,546
	56,074	e	Avangrid, Inc		2,930
	68,670		Avista Corp		3,326
	27,466		Aygaz AS		57
	1,769,974		Babcock & Brown Wind Partners		813
	274,200		BCPG PCL		163
	438,299		Beijing Enterprises Holdings Ltd		2,017
	4,342,191		Beijing Enterprises Water Group Ltd		2,222
	14,867		BKW S.A.		1,104
	121,355		Black Hills Corp		9,312
	3,040,000	*,e	Blue Sky Power Holdings Ltd		83
	98,986	e	Boralex, Inc		1,691
	59,150	*,e	Cadiz, Inc		739

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,189		California Water Service Group	$	2,656
	262,772	e	Canadian Utilities Ltd		7,745
	342,000		Canvest Environment Protection Group Co Ltd		149
	229,886		Capital Power Corp		5,324
	164,489	e	Capital Stage AG.		1,525
	1,158,675		Centerpoint Energy, Inc		34,969
	385,700	*	Centrais Eletricas Brasileiras S.A.		3,727
	194,179	*	Centrais Eletricas Brasileiras S.A. (Preference)		1,964
	47,900	*	Central Puerto S.A. (ADR)		141
	6,289,032		Centrica plc		5,703
	135,087		CESC Ltd		1,423
	193,972		CEZ AS		4,285
	1,598,000		CGN New Energy Holdings Co Ltd		173
	11,418,000	g	CGN Power Co Ltd		2,887
	52,302		Chesapeake Utilities Corp		4,985
	9,249,000		China Datang Corp Renewable Power Co Ltd		897
	235,000	g	China Everbright Greentech Ltd		137
	481,811		China Everbright Water Ltd		110
	3,861,308		China Gas Holdings Ltd		14,916
	2,530,627		China Longyuan Power Group Corp		1,422
	427,900		China National Nuclear Power Co Ltd		317
	2,328,000	e	China Oil and Gas Group Ltd		83
	3,574,000		China Power International Development Ltd		743
	939,580		China Resources Gas Group Ltd		4,650
	1,594,161		China Resources Power Holdings Co		1,934
	141,500		China Tian Lun Gas Holdings Ltd		135
	1,622,000	e	China Water Affairs Group Ltd		1,261
	1,320,100		China Yangtze Power Co Ltd		3,374
	942,758		Chubu Electric Power Co, Inc		13,675
	244,750	e	Chugoku Electric Power Co, Inc		3,150
	73,000		Cia de Gas de Sao Paulo-COMGAS		1,607
	321,300		Cia de Saneamento Basico do Estado de Sao Paulo		3,836
	138,080		Cia de Saneamento de Minas Gerais-COPASA		2,259
	31,700		Cia de Saneamento do Parana		642
	547,100		Cia de Saneamento do Parana (Preference)		2,166
	1,949,633		Cia Energetica de Minas Gerais		6,724
	105,600		Cia Energetica de Sao Paulo (Class B)		724
	252,200		Cia Paranaense de Energia		3,011
	1,015,120		CK Infrastructure Holdings Ltd		6,827
	1,012,800		CK Power PCL		190
	366,654		Clearway Energy, Inc (Class A)		6,358
	76,666		Clearway Energy, Inc (Class C)		1,399
	1,895,609		CLP Holdings Ltd		19,925
	63,883		CMS Energy Corp		4,085
	7,675,210		Colbun S.A.		1,384
	2,670,000		Concord New Energy Group Ltd		131
	13,090		Connecticut Water Service, Inc		917
	90,202		Consolidated Edison, Inc		8,521
	15,671		Consolidated Water Co, Inc		258
	1,308,039		Contact Energy Ltd		6,996
	2,650,000		Datang International Power Generation Co Ltd		548
	2,141,354		Dominion Resources, Inc		173,535
	623,574		Drax Group plc		2,118

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,309		DTE Energy Co	$	5,758
	1,858,109		Duke Energy Corp		178,118
	2,132,356		E.ON AG.		20,732
	313,800		Eastern Water Resources Development and Management PCL		127
	891,575		Edison International		67,243
	370,300		EDP - Energias do Brasil S.A.		1,747
	42,422		El Paso Electric Co		2,846
	219,620		Electric Power Development Co		5,021
	663,007		Electricite de France		7,417
	264,300		Electricity Generating PCL		3,103
	27,328		Elia System Operator S.A.		2,234
	309,655	e	Emera, Inc		13,594
	10,300	*,e	Empresa Distribuidora Y Comercializadora Norte (ADR)		73
	312,499		Empresa Electrica del Norte Grande S.A.		553
	31,244		Enagas		722
	803,164		Endesa S.A.		21,128
	334,274	*	Enea S.A.		717
	11,788,329		Enel S.p.A.		88,051
	101,242	*	Energa S.A.		162
	1,978,422		Energias de Portugal S.A.		7,678
	114,600		Energisa S.A.		1,378
	77,028	*	Energix-Renewable Energies Ltd		186
	3,755,114		Energy Absolute PCL (Foreign)		5,894
	118,029	g	Enerjisa Enerji AS.		130
	61,689,777		Enersis Chile S.A.		5,331
	53,128,772		Enersis S.A.		9,724
	437,300	*	Eneva S.A.		3,228
	209,151		Engie Brasil Energia S.A.		2,234
	733,228		ENN Energy Holdings Ltd		7,588
	1,636,315		Entergy Corp		192,038
	155,700		Equatorial Energia S.A.		3,758
	120,000	e	eRex Co Ltd		1,421
	34,295		ERG S.p.A.		692
	592,335		Evergy, Inc		39,426
	56,303		Eversource Energy		4,812
	21,109		EVN AG.		371
	4,031,205		Exelon Corp		194,748
	3,161,300		First Gen Corp		1,501
	8,244,228		FirstEnergy Corp		397,619
	473,260		Fortis, Inc		20,008
	1,392,840		Fortum Oyj		32,922
	2,410,711	*	GAIL India Ltd		4,581
	376,112		Gas Natural SDG S.A.		9,976
	2,015,133		Gaz de France		32,891
	2,618,000	*	GCL New Energy Holdings Ltd		94
	1,122,700		GD Power Development Co Ltd		376
	1,033,424		Genesis Energy Ltd		2,214
	17,057	e	Genie Energy Ltd		127
	11,120		Global Water Resources, Inc		132
	2,775,066		Guangdong Investments Ltd		5,431
	245,818		Gujarat Gas Ltd		615
	191,495		Gujarat State Petronet Ltd		586

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	438,500		Gulf Energy Development PCL	$	2,292
	39,444		Hawaiian Electric Industries, Inc		1,799
	733,642		Hera S.p.A.		3,011
	2,323,552		HK Electric Investments & HK Electric Investments Ltd		2,215
	100,200	e	Hokkaido Electric Power Co, Inc		528
	98,000	*	Hokuriku Electric Power Co		660
	248,538		Holding CO ADMIE IPTO S.A.		563
	11,825,647		Hong Kong & China Gas Ltd		23,050
	1,375,990		Hong Kong Electric Holdings Ltd		9,237
	5,188,000		Huadian Power International Corp Ltd		1,973
	344,600		Huadian Power International Corp Ltd (Class A)		173
	321,900		Huaneng Power International, Inc		262
	3,411,756		Huaneng Power International, Inc (Hong Kong)		1,642
	3,936,000		Huaneng Renewables Corp Ltd		1,339
	1,385,040		Hub Power Co Ltd		627
	248,500		Hubei Energy Group Co Ltd		142
	394,286	e,g	Hydro One Ltd		7,288
	6,746,358		Iberdrola S.A.		70,120
	141,372		Idacorp, Inc		15,928
	165,192		Indraprastha Gas Ltd		816
	544,300	*	Infraestructura Energetica ,NV SAB de C.V.		2,164
	881,791		Infratil Ltd		2,719
	144,719		Innergex Renewable Energy, Inc		1,670
	1,027,900	*,†	Inter Far East Energy Corp		0	^
	859,601		Interconexion Electrica S.A.		4,505
	1,372,831		Inversiones Aguas Metropolitanas S.A.		1,920
	1,161,810		Iride S.p.A.		3,389
	1,903,619		Italgas S.p.A		12,284
	144,304		JSW Energy Ltd		133
	118,762	e	Just Energy Income Fund		281
	7,200		K&O Energy Group, Inc		96
	1,659,780		Kansai Electric Power Co, Inc		18,590
	25,940		Kenon Holdings Ltd		517
	8,226,658		Keppel Infrastructure Trust		3,156
	1,377		Korea District Heating Corp		57
	492,857	*	Korea Electric Power Corp		10,663
	153,737		Korea Gas Corp		5,086
	207,500		Kot Addu Power Co Ltd		44
	330,733		Kyushu Electric Power Co, Inc		3,126
	109,300		Light S.A.		505
	62,651		Mahanagar Gas Ltd		807
	479,000		Malakoff Corp BHD		98
	404,180		Manila Electric Co		2,883
	581,100		Manila Water Co, Inc		226
	523,057		MDU Resources Group, Inc		14,745
	3,165,196		Meridian Energy Ltd		10,309
	36,621		MGE Energy, Inc		2,925
	16,758		Middlesex Water Co		1,089
	392,314		Mighty River Power Ltd		1,231
	154,563		National Fuel Gas Co		7,252
	10,423	*	National Gas & Industrialization Co		83
	3,480,899		National Grid plc		37,689

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	97,505		New Jersey Resources Corp	$	4,409
	1,270,923		NextEra Energy, Inc		296,112
	21,200		Nippon Gas Co Ltd		599
	1,257,690		NiSource, Inc		37,630
	221,348		Northland Power Income Fund		4,247
	33,947		Northwest Natural Holding Co		2,422
	53,338		NorthWestern Corp		4,003
	801,108		NRG Energy, Inc		31,724
	3,440,080		NTPC Ltd		5,707
	203,744		Oest Elektrizitatswirts AG. (Class A)		11,148
	356,602		OGE Energy Corp		16,183
	24,068		Okinawa Electric Power Co, Inc		379
	23,000		Omega Geracao S.A.		181
	169,998		ONE Gas, Inc		16,338
	41,467		Ormat Technologies, Inc		3,081
	191,353	g	Orsted AS		17,788
	508,343		Osaka Gas Co Ltd		9,763
	75,420		Otter Tail Corp		4,054
	48,800	*,e	Pampa Energia S.A. (ADR)		847
	2,290,000	*,e	Panda Green Energy Group Ltd		67
	183,489		Pattern Energy Group, Inc		4,941
	575,083		Pennon Group plc		5,848
	586,491		Petronas Gas BHD		2,294
	1,015,339	*,b	PG&E Corp		10,153
	248,857		Pinnacle West Capital Corp		24,157
	105,860		PNM Resources, Inc		5,513
	1,386,477	*	Polska Grupa Energetyczna S.A.		2,763
	266,540		Portland General Electric Co		15,025
	2,160,255		Power Grid Corp of India Ltd		6,069
	246,172		PPL Corp		7,752
	11,448,532		PT Perusahaan Gas Negara Persero Tbk		1,694
	349,588		PTC India Ltd		278
	649,871	*	Public Power Corp		2,224
	228,436		Public Service Enterprise Group, Inc		14,181
	20,955	*	Pure Cycle Corp		215
	523,557	*	Qatar Electricity & Water Co		2,221
	594,400		Ratch Group PCL		1,389
	411,686		Red Electrica Corp S.A.		8,339
	360,234		Redes Energeticas Nacionais S.A.		1,005
	64,662		Reliance Energy Ltd		27
	18,600	*	RENOVA, Inc		159
	7,759		RGC Resources, Inc		227
	56,646		Rubis S.C.A		3,290
	1,318,331		RWE AG.		41,201
	14,136		Samchully Co Ltd		998
	693,669		Saudi Electricity Co		3,939
	40,048	g	Scatec Solar ASA		515
	893,740		Scottish & Southern Energy plc		13,672
	309,400		SDIC Power Holdings Co Ltd		391
	24,363		Sechilienne-Sidec		637
	783,192		Sempra Energy		115,607
	51,284		Severn Trent plc		1,365
	199,800		Shenergy Co Ltd		155
	184,100		Shenzhen Energy Group Co Ltd		149

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	435,000	e	Shikoku Electric Power Co, Inc	$	4,111
	124,900		Shizuoka Gas Co Ltd		1,065
	102,600		Sichuan Chuantou Energy Co Ltd		143
	1,249,980	e	SIIC Environment Holdings Ltd		222
	54,228		SJW Corp		3,703
	2,143,844		Snam Rete Gas S.p.A.		10,829
	128,000	*,†	Sound Global Ltd		0	^
	121,850		South Jersey Industries, Inc		4,010
	273,653		Southern Co		16,904
	147,564		Southwest Gas Corp		13,434
	30,450	e	Spark Energy, Inc		321
	969,580		Spark Infrastructure Group		1,414
	250,900		SPCG PCL		169
	113,697		Spire, Inc		9,919
	383,522		Suez Environnement S.A.		6,028
	1,636,500		SUI Northern Gas Pipeline		645
	13,991	*,e	Sunnova Energy International, Inc		150
	6,258,600	*	Super Energy Corp PCL (Foreign)		127
	229,573		Superior Plus Corp		2,083
	206,450		Taiwan Cogeneration Corp		195
	1,210,543		Tata Power Co Ltd		1,068
	486,212	*	Tauron Polska Energia S.A.		188
	164,632		Telecom Plus plc		2,486
	2,831,941		Tenaga Nasional BHD		9,227
	201,226		Terna Energy S.A.		1,627
	1,891,042		Terna Rete Elettrica Nazionale S.p.A.		12,146
	257,214	e	TerraForm Power, Inc		4,688
	638,800		Thai Tap Water Supply PCL		286
	120,000		Tianjin Development Hldgs Ltd		32
	65,685		Toho Gas Co Ltd		2,519
	484,678		Tohoku Electric Power Co, Inc		4,737
	2,470,153	*	Tokyo Electric Power Co, Inc		12,115
	531,710		Tokyo Gas Co Ltd		13,448
	309,220		Torrent Power Ltd		1,256
	1,012,000		Towngas China Co Ltd		759
	372,296		TransAlta Corp		2,422
	172,161	*,e	TransAlta Renewables, Inc		1,771
	459,800		Transmissora Alianca de Energia Eletrica S.A.		3,187
	68,443		UGI Corp		3,441
	271,021		Uniper SE		8,888
	689,848		United Utilities Group plc		7,002
	93,439		Unitil Corp		5,928
	14,271		Utilities Select Sector SPDR Fund		924
	50,198		Valener, Inc		985
	878,381		Veolia Environnement		22,251
	1,093,004		Vistra Energy Corp		29,216
	55,548		WEC Energy Group, Inc		5,283
	627,800		WHA Utilities and Power PCL		140
	372,348	e	Xcel Energy, Inc		24,162
	14,359		York Water Co		627
	3,239,890		YTL Corp BHD		712
	322,184	*	Zorlu Enerji Elektrik Uretim AS		72
			TOTAL UTILITIES		3,525,352
			TOTAL COMMON STOCKS		111,232,655
			(Cost $102,639,348)

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
PURCHASED OPTIONS - 0.0%
BANKS - 0.0%
	4,000		US Bancorp	$	5
			TOTAL BANKS		5
DIVERSIFIED FINANCIALS - 0.0%
	5,000		S&P 500 Index		79
			TOTAL DIVERSIFIED FINANCIALS		79
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	600,000		Intel Corp		444
	100,000		Intel Corp		69
	200,000		Intel Corp		100
	1,300,000		Intel Corp		4,810
	800,000		Intel Corp		616
	600,000		QUALCOMM, Inc		1,260
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		7,299
			TOTAL PURCHASED OPTIONS		7,383
			(Cost $7,045)
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)
RIGHTS / WARRANTS - 0.0%
BANKS - 0.0%
	6,190,226		TMB Bank PCL		34
			TOTAL BANKS		34
CAPITAL GOODS - 0.0%
	79,135	†,e	Abengoa S.A. (B Shares)		0
	56,624	e	Chip Eng Seng Corp Ltd		0	^
			TOTAL CAPITAL GOODS		0	^
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	230,631	†	Media General, Inc		0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		0
MATERIALS - 0.0%
	36,321	†	A Schulman, Inc		16
	415,728	†	Pan American Silver Corp		94
	192,902	†	Pan American Silver Corp		104
			TOTAL MATERIALS		214

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY				VALUE (000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	179,091		Karo Pharma AB				$	10
	17,790	†,e	Omthera Pharmaceuticals, Inc					11
	20,027	†,e	Tobira Therapeutics, Inc					1
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					22
REAL ESTATE - 0.0%
	32,330	*	ESR-REIT					0	^
	326,258	*	Keppel DC REIT					48
	53,611		Manulife US Real Estate Investment Trust					2
	14,229	†	Singha Estate PCL					1
	112,210		Sunway BHD					10
	66,478,080		U City PCL					22
			TOTAL REAL ESTATE					83
RETAILING - 0.0%
	137,357	e	Harvey Norman Holdings Ltd					166
			TOTAL RETAILING					166
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	30,484	†	Legend Holdings Corp					5
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					5
TRANSPORTATION - 0.0%
	2,216	†	Gol Linhas Aereas Inteligentes S.A.					0
			TOTAL TRANSPORTATION					0
UTILITIES - 0.0%
	20,436	†	Enel Americas S.A.					0
			TOTAL UTILITIES					0
			TOTAL RIGHTS / WARRANTS					524
			(Cost $197)
PRINCIPAL			ISSUER	RATE		MATURITY DATE
SHORT-TERM INVESTMENTS - 2.6%
GOVERNMENT AGENCY DEBT - 0.7%
$	15,000,000		Federal Agricultural Mortgage Corp (FAMC)	1.947	%	12/06/19		14,948
	20,000,000		Federal Farm Credit Bank (FFCB)	1.942		10/25/19		19,975
	20,000,000		FFCB	1.975		11/18/19		19,950
	98,950,000		Federal Home Loan Bank (FHLB)	2.040-2.047		10/02/19		98,945
	31,700,000		FHLB	1.991-2.021		10/11/19		31,683
	100,000,000		FHLB	2.022		10/24/19		99,880
	13,500,000		FHLB	2.003-2.023		10/25/19		13,483
	15,106,000		FHLB	2.013		10/30/19		15,083
	24,050,000		FHLB	1.908		11/04/19		24,007
	40,000,000		FHLB	1.934		11/05/19		39,927
	23,000,000		FHLB	1.970		11/15/19		22,946
	25,000,000		FHLB	1.955		11/19/19		24,936
	25,000,000		FHLB	1.915		11/22/19		24,932
	35,000,000		FHLB	1.936-1.951		11/25/19		34,900
	35,120,000		FHLB	1.936		11/26/19		35,017
	40,000,000		FHLB	1.946		12/02/19		39,871
	40,000,000		FHLB	1.947		12/09/19		39,857

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	53,640,000		FHLB		1.942	%	12/13/19	$	53,437
	80,800,000		FHLB		1.867-1.883		12/17/19		80,477
	20,000,000		FHLB		1.938		12/24/19		19,913
			TOTAL GOVERNMENT AGENCY DEBT						754,167
TREASURY DEBT - 0.4%
	65,770,000		United States Treasury Bill		1.917-2.338		10/08/19		65,747
	50,000,000		United States Treasury Bill		2.057		10/15/19		49,966
	22,700,000		United States Treasury Bill		1.889		10/22/19		22,676
	58,430,000		United States Treasury Bill		1.956-1.966		11/05/19		58,330
	25,000,000		United States Treasury Bill		1.933		11/07/19		24,956
	42,230,000		United States Treasury Bill		1.894		11/12/19		42,144
	50,000,000		United States Treasury Bill		1.932		11/29/19		49,852
	115,100,000		United States Treasury Bill		1.911		12/05/19		114,730
	25,000,000		United States Treasury Bill		1.902		12/26/19		24,893
	38,600,000		United States Treasury Bill		1.859		01/23/20		38,381
	21,390,000		United States Treasury Bill		1.919		02/06/20		21,254
			TOTAL TREASURY DEBT						512,929
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.5%
CERTIFICATE OF DEPOSIT - 0.4%
	21,000,000		Australia & New Zealand Bank		2.425		01/17/20		21,016
	44,000,000		Australia & New Zealand Bank		2.214		04/27/20		44,000
	59,000,000		ING US Funding LLC		2.228		05/15/20		59,000
	87,000,000		Mizuho Bank Ltd		2.219		10/02/19		87,000
	86,000,000		National Australia Bank		2.188		05/15/20		86,000
	100,000,000		Natixis		2.268		05/14/20		100,000
	86,500,000		Skandinaviska Enskilda Banken AB		2.178		05/14/20		86,500
			TOTAL CERTIFICATE OF DEPOSIT						483,516
COMMERCIAL PAPER - 0.1%
	68,000,000		Canadian Imperial Bank of Commerce		2.310		10/01/19		68,000
	63,000,000		Cancara Asset Securitisation		0.010		10/01/19		63,000
			TOTAL COMMERCIAL PAPER						131,000
REPURCHASE AGREEMENT - 0.9%
	50,000,000	r	Calyon		1.800		10/01/19		50,000
	13,000,000	s	Calyon		2.300		10/01/19		13,000
	45,000,000	t	Citigroup		2.320		10/01/19		45,000
	5,000,000	u	Deutsche Bank		2.350		10/01/19		5,000
	224,300,000	v	JP Morgan		2.350		10/01/19		224,300
	36,000	w	Merrill Lynch		2.300		10/01/19		36
	206,042,000	x	Merrill Lynch		2.320		10/01/19		206,042
	90,000,000	y	Morgan Stanley		2.420		10/01/19		90,000
	146,000,000	z	Nomura		2.380		10/01/19		146,000
	200,000,000	aa	Royal Bank of Scotland		2.380		10/01/19		200,000
	50,000,000	ab	Societe Generale		2.320		10/01/19		50,000
			TOTAL REPURCHASE AGREEMENT						1,029,378
VARIABLE RATE SECURITIES - 0.1%
	70,000,000		Bedford Row Funding Corp		2.128		10/15/19		70,000
			TOTAL VARIABLE RATE SECURITIES						70,000
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						1,713,894

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES	COMPANY	VALUE (000)
	TOTAL SHORT-TERM INVESTMENTS	$	2,980,990
	(Cost $2,980,846)
	TOTAL INVESTMENTS - 101.3%		114,221,893
	(Cost $105,627,782)
	OTHER ASSETS & LIABILITIES, NET - (1.3)%		(1,483,660	)
	NET ASSETS - 100.0%	$	112,738,233

Abbreviation(s):
ADR	American Depositary Receipt
ETF	Exchange Traded Fund
GDR	Global Depositary Receipt
INR	Indian Rupee
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 $2,199,114,856.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/19, the aggregate value of these securities was $834,451,426 or 0.7% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
r	Agreement with Calyon, 1.80% dated 9/30/2019 to be repurchased at $50,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $51,000,000.
s	Agreement with Calyon, 2.30% dated 9/30/2019 to be repurchased at $13,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $13,260,000.
t	Agreement with Citigroup, 2.32% dated 9/30/2019 to be repurchased at $45,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $45,911,000.
u	Agreement with Deutsche Bank, 2.35% dated 9/30/2019 to be repurchased at $5,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $5,100,000.
v	Agreement with JP Morgan, 2.35% dated 9/30/2019 to be repurchased at $224,300,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $228,786,000.
w	Agreement with Merrill Lynch, 2.30% dated 9/30/2019 to be repurchased at $36,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $37,000.
x	Agreement with Merrill Lynch, 2.32% dated 9/30/2019 to be repurchased at $206,042,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $210,163,000.
y	Agreement with Morgan Stanley, 2.42% dated 9/30/2019 to be repurchased at $90,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $91,800,000.
z	Agreement with Nomura, 2.38% dated 9/30/2019 to be repurchased at $146,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $148,920,000.
aa	Agreement with Royal Bank of Scotland, 2.38% dated 9/30/2019 to be repurchased at $200,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $204,000,000.
ab	Agreement with Societe Generale, 2.32% dated 9/30/2019 to be repurchased at $50,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $51,000,000.

Cost amounts are in thousands.

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Purchased options outstanding as of September 30, 2019 were as follows (notional amounts and values are in thousands):

Description/underlying investment	Number of contracts		Notional amount		Exercise price		Expiration date	Value
Intel Corp, Call		1,000	$	61	$	52.50	10/18/19	$	69
Intel Corp, Call		2,000		94		53.00	10/18/19		100
Intel Corp, Call		6,000		873		54.00	10/25/19		444
Intel Corp, Call		13,000		2,862		49.00	11/15/19		4,810
Intel Corp, Call		8,000		328		55.00	11/15/19		616
QUALCOMM, Inc, Call		6,000		2,495		80.00	11/15/19		1,260
S&P 500 Index, Put		50		330		2,600.00	12/20/19		79
US Bancorp, Call		40		2		57.50	12/20/19		5
Total		36,090	$	7,045				$	7,383

Written options outstanding as of September 30, 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		50	$	(1	)	$	62.50		10/18/19		$            (0	)^
Advanced Micro Devices, Inc, Put		50		(8	)		26.00		10/18/19		(1	)
Align Technology, Inc, Call		10		(22	)		350.00		10/18/19		(0	)^
Anaplan, Inc, Put		30		(1	)		35.00		10/18/19		(0	)^
Apple, Inc, Call		50		(28	)		240.00		01/17/20		(29	)
Apple, Inc, Call		25		(10	)		245.00		01/17/20		(11	)
Apple, Inc, Put		75		(34	)		170.00		10/18/19		(1	)
Apple, Inc, Put		50		(17	)		190.00		01/17/20		(15	)
Arista Networks, Inc, Call		30		(18	)		340.00		11/15/19		(0	)^
DexCom, Inc, Put		30		(4	)		125.00		10/18/19		(2	)
Intel Corp, Call		6,000		(192	)		58.00		10/25/19		(60	)
Intel Corp, Call		9,000		(785	)		52.50		11/15/19		(1503	)
Intel Corp, Call		4,000		(72	)		60.00		11/15/19		(40	)
Intel Corp, Put		16,000		(935	)		35.00		10/18/19		(16	)
Intel Corp, Put		13,000		(572	)		40.00		11/15/19		(169	)
Intel Corp, Put		4,000		(164	)		42.00		11/15/19		(104	)
Kohl’s Corp, Put		20		(2	)		37.50		10/18/19		(0	)^
Kohl’s Corp, Put		20		(3	)		40.00		10/18/19		(0	)^
Microsoft Corp, Call		470		(31	)		145.00		10/18/19		(24	)
Microsoft Corp, Call		30		(3	)		155.00		10/18/19		(0	)^
Microsoft Corp, Put		1,950		(454	)		120.00		10/18/19		(21	)
Microsoft Corp, Put		6,000		(1999	)		125.00		10/18/19		(126	)
Microsoft Corp, Put		235		(27	)		120.00		11/15/19		(16	)
Microsoft Corp, Put		235		(44	)		125.00		11/15/19		(27	)
Monolithic Power Systems, Inc, Call		20		(1	)		170.00		10/18/19		(1	)
QUALCOMM, Inc, Call		6,000		(555	)		90.00		11/15/19		(138	)
QUALCOMM, Inc, Call		25		(2	)		95.00		01/17/20		(1	)
S&P 500 Index, Call		50		(149	)		3,050.00		12/20/19		(229	)
S&P 500 Index, Put		50		(177	)		2,400.00		12/20/19		(30	)
salesforce.com, Inc, Put		50		(14	)		125.00		10/18/19		(1	)
Teradata Corp, Call		30		(2	)		45.00		10/18/19		(0	)^
Teradata Corp, Put		30		(6	)		30.00		12/20/19		(5	)
Teradata Corp, Put		30		(11	)		32.50		12/20/19		(9	)
Texas Instruments, Inc, Put		30		(1	)		115.00		10/18/19		(1	)
Wells Fargo & Co, Call		40		(3	)		50.00		12/20/19		(9	)
Zscaler, Inc, Put		30		(1	)		40.00		10/18/19		(1	)
Total		67,745	$	(6,348	)					$	(2,590	)

^ Amount represents less than $1,000.

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Futures contracts outstanding as of September 30, 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	331	12/20/19		$	26,144	$	25,239	$	(905	)
S&P 500 E Mini Index	2,180	12/20/19			327,464		324,657		(2,808	)
S&P Mid-Cap 400 E Mini Index	208	12/20/19			40,871		40,310		(561	)
Total	2,719			$	394,479	$	390,206	$	(4,274	)

Forward foreign currency contracts outstanding as of September 30, 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)
$	45,396	CAD	60,000	Bank of America	12/16/19	$	49
$	6,136	CAD	8,000	Morgan Stanley	10/09/19	$	96
$	1,886	GBP	1,500	Morgan Stanley	10/09/19		41
$	26,014	GBP	21,000	Morgan Stanley	12/16/19		111
$	1,600	SEK	15,000	Morgan Stanley	10/09/19		76
EUR	8,000	$	9,041	Morgan Stanley	10/09/19		(315	)
JPY	300,000	$	2,783	Morgan Stanley	10/09/19		(7	)
Total						$	2
Total						$	51

Abbreviation(s):

CAD	Canadian Dollar
EUR	Euro
GBP	Pound Sterling
JPY	Japanese Yen
SEK	Swedish Krona

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

September 30, 2019

	Value		% of total
Country	(000)		portfolio
DOMESTIC
UNITED STATES	$	79,735,797		69.8	%
TOTAL DOMESTIC		79,735,797		69.8
FOREIGN
ARGENTINA		13,632		0.0
AUSTRALIA		1,568,113		1.4
AUSTRIA		231,918		0.2
BAHAMAS		723		0.0
BELGIUM		182,550		0.2
BERMUDA		52,244		0.0
BRAZIL		799,473		0.7
CANADA		2,400,837		2.1
CAYMAN ISLANDS		503		0.0
CHILE		91,418		0.1
CHINA		2,572,013		2.3
COLOMBIA		32,174		0.0
COTE D’IVOIRE		1,914		0.0
CYPRUS		62		0.0
CZECH REPUBLIC		33,788		0.0
DENMARK		460,824		0.4
EGYPT		17,068		0.0
FAROE ISLANDS		1,418		0.0
FINLAND		230,163		0.2
FRANCE		2,543,423		2.2
GEORGIA		578		0.0
GERMANY		1,685,808		1.5
GHANA		6,820		0.0
GREECE		33,705		0.0
GUERNSEY, C.I.		1,865		0.0
HONG KONG		710,417		0.6
HUNGARY		26,421		0.0
INDIA		803,762		0.7
INDONESIA		171,465		0.2
IRELAND		313,792		0.3
ISRAEL		127,336		0.1
ITALY		602,960		0.5
JAPAN		5,819,644		5.1
JERSEY, C.I.		539		0.0
JORDAN		18,376		0.0
KAZAKHSTAN		9,005		0.0
KENYA		11,830		0.0
KOREA, REPUBLIC OF		1,069,890		0.9
LIECHTENSTEIN		1,219		0.0
LUXEMBOURG		35,302		0.0
MACAU		56,552		0.0
MACEDONIA		312		0.0
MALAYSIA		154,310		0.1

189

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	Value		% of total
Country	(000)		portfolio
MALTA	$	1,996		0.0	%
MEXICO		222,923		0.2
MONACO		13,981		0.0
MONGOLIA		495		0.0
MYANMAR		801		0.0
NETHERLANDS		1,390,637		1.2
NEW ZEALAND		72,583		0.1
NORWAY		176,210		0.2
PAKISTAN		9,738		0.0
PANAMA		7,976		0.0
PERU		31,400		0.0
PHILIPPINES		97,963		0.1
POLAND		73,300		0.1
PORTUGAL		38,301		0.0
PUERTO RICO		41,995		0.0
QATAR		72,017		0.1
ROMANIA		7,390		0.0
RUSSIA		304,588		0.3
SAUDI ARABIA		177,518		0.2
SINGAPORE		257,358		0.2
SLOVENIA		9,285		0.0
SOUTH AFRICA		409,572		0.4
SPAIN		525,331		0.5
SWEDEN		606,095		0.5
SWITZERLAND		1,992,508		1.7
TAIWAN		1,096,221		1.0
THAILAND		261,404		0.2
TURKEY		72,238		0.1
UKRAINE		4,550		0.0
UNITED ARAB EMIRATES		58,230		0.1
UNITED KINGDOM		3,536,693		3.2
VIETNAM		362		0.0
ZAMBIA		18,271		0.0
TOTAL FOREIGN		34,486,096		30.2
TOTAL PORTFOLIO	$	114,221,893		100.0	%

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2019

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BONDS - 0.0%
CORPORATE BONDS - 0.0%
INDIA - 0.0%
INR	198,660		Britannia Industries Ltd		8.000	%	08/28/22	$	3
			TOTAL INDIA						3
			TOTAL CORPORATE BONDS						3
			(Cost $3)
			TOTAL BONDS						3
			(Cost $3)
SHARES			COMPANY
COMMON STOCKS - 98.3%
ARGENTINA - 0.0%
	4,800		Banco Macro S.A. (ADR) (Class B)						125
	7,000		BBVA Banco Frances S.A. (ADR)						30
	3,452	*	Globant S.A.						316
	10,800	e	Grupo Financiero Galicia S.A. (ADR) (Class B)						140
	662	*	MercadoLibre, Inc						365
	6,900	*,e	Pampa Energia S.A. (ADR)						120
	9,100		Telecom Argentina S.A. (ADR) (Class B)						91
	8,900	e	Transportadora de Gas del Sur S.A. (ADR) (Class B)						76
	22,100		YPF S.A. (ADR) (Class D)						204
			TOTAL ARGENTINA						1,467
AUSTRALIA - 1.7%
	1,005,240	*	Afterpay Touch Group Ltd						24,446
	70,165		AGL Energy Ltd						908
	93,912	e	Alumina Ltd						150
	374,687		AMP Ltd						462
	140,324		APA Group (ASE)						1,087
	22,024		Aristocrat Leisure Ltd						455
	68,410		AusNet Services						84
	1,613,767		Australia & New Zealand Banking Group Ltd						31,000
	38,781		Australian Stock Exchange Ltd						2,125
	681,005	*,†	AZ BGP Holdings						2
	14,690	e	Bank of Queensland Ltd						98
	19,162		Bendigo Bank Ltd						149
	3,476,610	e	BHP Billiton Ltd						85,909
	176,475		BHP Group plc						3,769

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	18,706		BlueScope Steel Ltd	$	152
	43,764		Boral Ltd		143
	61,045		Brambles Ltd		470
	9,765		Caltex Australia Ltd		174
	80,338		Challenger Financial Services Group Ltd		400
	3,231		CIMIC Group Ltd		69
	18,687		Coca-Cola Amatil Ltd		134
	24,121		Cochlear Ltd		3,394
	43,393		Coles Group Ltd		451
	67,677		Commonwealth Bank of Australia		3,692
	20,012		Computershare Ltd		219
	13,802		Crown Resorts Ltd		112
	108,009		CSL Ltd		17,078
	94,020		Dexus Property Group		757
	1,856		Flight Centre Travel Group Ltd		60
	8,669,427		Fortescue Metals Group Ltd		51,602
	143,788		GPT Group (ASE)		598
	18,399	e	Harvey Norman Holdings Ltd		56
	734,200		IDP Education Ltd		7,726
	61,576		Incitec Pivot Ltd		141
	1,465,000		Ingenia Communities Group		3,975
	293,348		Insurance Australia Group Ltd		1,565
	21,279		Lend Lease Corp Ltd		252
	178,425		Macquarie Goodman Group		1,708
	24,205		Macquarie Group Ltd		2,146
	4,698		Magellan Financial Group Ltd		164
	106,499		Medibank Pvt Ltd		245
	100,000	*	Megaport Ltd		614
	291,774		Mirvac Group		603
	268,000	*	MMG Ltd		63
	107,491		National Australia Bank Ltd		2,155
	29,398		Newcrest Mining Ltd		678
	52,506		Oil Search Ltd		259
	14,883		Orica Ltd		227
	67,457		Origin Energy Ltd		363
	4,170		Perpetual Trustees Australia Ltd		106
	92,965		Qantas Airways Ltd		395
	152,177		QBE Insurance Group Ltd		1,291
	76,193		QR National Ltd		304
	11,096		Ramsay Health Care Ltd		486
	2,013	e	REA Group Ltd		147
	34,205		Rio Tinto Ltd		2,142
	937,101		Rio Tinto plc		48,713
	67,901		Santos Ltd		354
	4,057,311		Scentre Group		10,764
	12,694		Seek Ltd		184
	61,597		Sonic Healthcare Ltd		1,168
	192,083		South32 Ltd		339
	323,363		Stockland Trust Group		993
	146,433		Suncorp Group Ltd		1,349
	42,386		Sydney Airport		230
	81,190		Tabcorp Holdings Ltd		266
	522,892		Telstra Corp Ltd		1,240

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	12,689		TPG Telecom Ltd	$	59
	213,031		Transurban Group (ASE)		2,115
	27,524	e	Treasury Wine Estates Ltd		345
	223,676		Vicinity Centres		388
	201,772	*	Virgin Australia Holdings Ltd		22
	3,986		Washington H Soul Pattinson & Co Ltd		57
	94,853		Wesfarmers Ltd		2,548
	131,820		Westpac Banking Corp		2,633
	73,558	e	Woodside Petroleum Ltd		1,607
	106,386		Woolworths Ltd		2,677
	12,965	e	WorleyParsons Ltd		114
			TOTAL AUSTRALIA		336,125
AUSTRIA - 0.0%
	2,567		Andritz AG.		105
	198,403		Erste Bank der Oesterreichischen Sparkassen AG.		6,557
	8,044		Oest Elektrizitatswirts AG. (Class A)		440
	5,542		OMV AG.		297
	5,858		Raiffeisen International Bank Holding AG.		136
	4,772	e	Voestalpine AG.		110
			TOTAL AUSTRIA		7,645
BELGIUM - 0.1%
	6,680		Ageas		370
	105,555		Anheuser-Busch InBev S.A.		10,047
	2,899		Befimmo SCA Sicafi		178
	2,319		Cofinimmo		327
	2,014	e	Colruyt S.A.		110
	3,039		Groupe Bruxelles Lambert S.A.		292
	9,407		KBC Groep NV		611
	5,538		Proximus plc		165
	2,903		Solvay S.A.		300
	1,591		Telenet Group Holding NV		75
	4,755		UCB S.A.		345
	7,309	e	Umicore S.A.		276
	1,197		Warehouses De Pauw SCA		220
			TOTAL BELGIUM		13,316
BERMUDA - 0.0%
	657		RenaissanceRe Holdings Ltd		127
	155,247	*	Third Point Reinsurance Ltd		1,551
			TOTAL BERMUDA		1,678
BRAZIL - 1.8%
	489,500		AMBEV S.A.		2,268
	140,300	*	Arco Platform Ltd		7,112
	3,086,208		Arcos Dorados Holdings, Inc		20,739
	39,100		Atacadao Distribuicao Comercio e Industria Ltd		198
	874,461	*	B2W Cia Digital (ADR)		10,079
	6,050,152	*	B2W Companhia Global Do Varejo		70,404
	211,600		B3 S.A.-Brasil Bolsa Balcao		2,222
	124,520		Banco Bradesco S.A.		936
	509,840		Banco Bradesco S.A. (Preference)		4,162

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	21,500		Banco BTG Pactual S.A.	$	303
	401,032		Banco do Brasil S.A.		4,391
	681,600	*	Banco Inter SA		9,310
	1,029,919		Banco Itau Holding Financeira S.A.		8,683
	42,500		Banco Santander Brasil S.A.		464
	69,700		BB Seguridade Participacoes S.A.		588
	81,200		BR Malls Participacoes S.A.		282
	22,100	*	Braskem S.A.		173
	58,300	*	BRF S.A.		536
	20,300	*	Centrais Eletricas Brasileiras S.A.		196
	23,300	*	Centrais Eletricas Brasileiras S.A. (Preference)		236
	2,125,600		Cia Brasileira de Distribuicao Grupo Pao de Acucar		40,824
	415,500		Cia Brasileira de Distribuicao Grupo Pao de Acucar (ADR)		7,990
	128,600		Cia de Concessoes Rodoviarias		534
	35,100		Cia de Saneamento Basico do Estado de Sao Paulo		419
	94,400		Cia Energetica de Minas Gerais		326
	58,300		Cia Siderurgica Nacional S.A.		186
	132,800		Cielo S.A.		256
	17,100		Cosan SA Industria e Comercio		219
	75,000		Empresa Brasileira de Aeronautica S.A.		323
	17,200		Energisa S.A.		207
	21,550		Engie Brasil Energia S.A.		230
	17,900		Equatorial Energia S.A.		432
	2,111,956	e	Gerdau S.A. (ADR)		6,653
	113,700		Gerdau S.A. (Preference)		360
	39,200		Hypermarcas S.A.		316
	1,146,440		Investimentos Itau S.A. - PR		3,637
	71,100		IRB Brasil Resseguros S		644
	108,700		JBS S.A.		858
	78,800		Klabin S.A.		292
	156,700		Kroton Educacional S.A.		422
	688,800		Linx S.A.		5,361
	1,201,800		Localiza Rent A Car		13,149
	9,332,033		Lojas Americanas S.A.(Preference)		44,830
	79,080		Lojas Renner S.A.		961
	9,900		M Dias Branco S.A.		83
	1,568,700		Magazine Luiza S.A.		13,984
	28,900		Multiplan Empreendimentos Imobiliarios S.A.		201
	39,300		Natura Cosmeticos S.A.		320
	34,900		Notre Dame Intermedica Participacoes S.A.		456
	376,128	*	Pagseguro Digital Ltd		17,418
	70,000		Petrobras Distribuidora S.A.		464
	651,200		Petroleo Brasileiro S.A.		4,725
	882,800		Petroleo Brasileiro S.A. (Preference)		5,854
	9,600		Porto Seguro S.A.		136
	23,800		Raia Drogasil S.A.		549
	113,500	*	Rumo S.A.		669
	635,341	*,e	StoneCo Ltd		22,097
	22,600		Sul America SA		259
	57,380		Suzano Papel e Celulose S.A.		465
	45,400	*	Telefonica Brasil S.A.		600
	92,100		Tim Participacoes S.A.		264

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	82,800		Ultrapar Participacoes S.A.	$	368
	738,916	e	Ultrapar Participacoes S.A. (ADR)		3,303
	830,200	*	Vale S.A.		9,541
	87,460		Weg S.A.		510
			TOTAL BRAZIL		354,977
CANADA - 2.8%
	28,596		Agnico-Eagle Mines Ltd		1,532
	5,077	*	Air Canada		166
	1,203,148		Alimentation Couche Tard, Inc		36,870
	10,584	e	AltaGas Ltd		155
	2,893		Atco Ltd		106
	26,831	*,e	Aurora Cannabis, Inc		118
	348,143		Bank of Montreal		25,642
	161,275		Bank of Nova Scotia		9,160
	5,264,086		Barrick Gold Corp (Canada)		91,069
	5,979		BCE, Inc		289
	21,587	*	Blackberry Ltd (New)		113
	11,596		Boardwalk REIT		389
	78,798	*,e	Bombardier, Inc		106
	95,779		Brookfield Asset Management, Inc		5,086
	10,833		CAE, Inc		275
	14,885		Cameco Corp (Toronto)		141
	4,638		Canadian Apartment Properties REIT		191
	51,869	e	Canadian Imperial Bank of Commerce		4,280
	68,135		Canadian National Railway Co		6,118
	47,106		Canadian Natural Resources Ltd (Canada)		1,253
	236,255		Canadian Pacific Railway Ltd (Toronto)		52,503
	2,294		Canadian Tire Corp Ltd		257
	5,094		Canadian Utilities Ltd		150
	8,086	*,e	Canopy Growth Corp (Toronto)		185
	5,888		CCL Industries		238
	924,900		Cenovus Energy, Inc (Toronto)		8,678
	178,424	*	CGI, Inc		14,109
	8,824		CI Financial Corp		129
	792		Constellation Software, Inc		791
	6,346	*,e	Cronos Group, Inc		57
	296,009	*	Descartes Systems Group, Inc		11,949
	640,709		Dollarama, Inc		22,938
	9,398	e	Emera, Inc		413
	7,024		Empire Co Ltd		190
	246,817		Enbridge, Inc (Toronto)		8,663
	50,444	e	EnCana Corp		231
	3,234,841		Entertainment One Ltd		22,496
	4,028		Fairfax Financial Holdings Ltd		1,776
	11,540		First Capital Realty, Inc		192
	27,269		Fortis, Inc		1,153
	7,370		Franco-Nevada Corp		672
	3,026		George Weston Ltd		255
	8,289		Gildan Activewear, Inc		294
	24,642		Great-West Lifeco, Inc		592
	23,259		H&R Real Estate Investment Trust		406
	15,007		Husky Energy, Inc		106

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	12,717	e,g	Hydro One Ltd	$	235
	4,193		iA Financial Corp, Inc		191
	3,172		IGM Financial, Inc		90
	10,646		Imperial Oil Ltd		277
	67,122		Intact Financial Corp		6,756
	16,349	e	Inter Pipeline Ltd		287
	8,527		Keyera Corp		207
	82,500	*	Kinaxis, Inc		5,369
	47,181	*	Kinross Gold Corp		217
	7,769		Kirkland Lake Gold Ltd		348
	290,800	*	Lightspeed POS, Inc		6,725
	7,261		Loblaw Cos Ltd		414
	139,162	*	Lululemon Athletica, Inc		26,793
	12,074		Magna International, Inc		644
	484,799		Manulife Financial Corp (Toronto)		8,892
	2,736		Methanex Corp		97
	10,047		Metro, Inc		442
	27,896		National Bank of Canada		1,388
	436,560		Nutrien Ltd (Toronto)		21,748
	9,311		Onex Corp		577
	25,336		Open Text Corp		1,033
	20,051		Pembina Pipeline Income Fund		743
	56,268		Power Corp Of Canada		1,296
	31,489		Power Financial Corp		730
	7,993	e	PrairieSky Royalty Ltd		112
	7,123		Quebecor, Inc		162
	19,732		Recipe Unlimited Corp		390
	161,882	e	Restaurant Brands International, Inc		11,516
	9,496		Restaurant Brands International, Inc (Toronto)		675
	52,684		RioCan Real Estate Investment Trust		1,049
	14,222		Rogers Communications, Inc (Class B)		693
	251,260		Royal Bank of Canada		20,382
	9,118		Saputo, Inc		280
	18,358		Shaw Communications, Inc (B Shares)		361
	65,507	*	Shopify, Inc (Class A) (Toronto)		20,386
	14,121		Smart Real Estate Investment Trust		346
	6,417	e	SNC-Lavalin Group, Inc		90
	365,626	*,g	Spin Master Corp		11,171
	9,200	*,e	Stars Group, Inc		138
	87,170		Sun Life Financial, Inc		3,898
	853,385		Suncor Energy, Inc		26,918
	110,922	e	TC Energy Corp		5,743
	540,374		Teck Cominco Ltd		8,761
	7,826		TELUS Corp		279
	22,572		Thomson Reuters Corp		1,509
	396,147		Toronto-Dominion Bank		23,099
	9,320		Tourmaline Oil Corp		92
	5,333	e	Vermilion Energy, Inc		89
	7,632		West Fraser Timber Co Ltd		305
	17,574		Wheaton Precious Metals Corp		461
	4,126		WSP Global, Inc		241
			TOTAL CANADA		557,127

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
CHILE - 0.0%
	281,344		Aguas Andinas S.A.	$	154
	14,875		Antofagasta plc		164
	4,458,168		Banco de Chile		624
	4,499		Banco de Credito e Inversiones		283
	13,075,396		Banco Santander Chile S.A.		921
	151,667		Centros Comerciales Sudamericanos S.A.		250
	15,257		Cia Cervecerias Unidas S.A.		171
	933,778		Colbun S.A.		168
	11,808,976		Corpbanca S.A.		90
	38,370		Embotelladora Andina S.A.		128
	15,178	*	Empresa Nacional de Telecomunicaciones S.A.		133
	244,485		Empresas CMPC S.A.		569
	93,167		Empresas COPEC S.A.		878
	3,127,094		Enersis Chile S.A.		270
	10,299,902		Enersis S.A.		1,885
	32,106		Lan Airlines S.A.		355
	27,588		Lundin Mining Corp		130
	166,632		SACI Falabella		931
	23,402		Sociedad Quimica y Minera de Chile S.A. (Class B)		644
			TOTAL CHILE		8,748
CHINA - 3.5%
	7,000		360 Security Technology, Inc		23
	164,500	*,g	3SBio, Inc		272
	2,800	*	51job, Inc (ADR)		207
	10,200	*	58.COM, Inc (ADR)		503
	79,000	e	AAC Technologies Holdings, Inc		417
	7,400		AECC Aviation Power Co Ltd		23
	118,000		Agile Property Holdings Ltd		143
	6,046,000		Agricultural Bank of China Ltd		2,368
	393,400		Agricultural Bank of China Ltd (Class A)		191
	16,790		Aier Eye Hospital Group Co Ltd		83
	17,000		Air China Ltd		19
	172,000		Air China Ltd (H shares)		151
	10,100		Aisino Corp		30
	940,072	*	Alibaba Group Holding Ltd (ADR)		157,208
	384,000	*,e	Alibaba Health Information Technology Ltd		335
	470,000	*	Aluminum Corp of China Ltd		148
	41,500	*	Aluminum Corp of China Ltd (Class A)		20
	195,000	e	Angang New Steel Co Ltd		71
	11,830		Angang Steel Co Ltd		5
	131,500		Anhui Conch Cement Co Ltd		780
	21,100		Anhui Conch Cement Co Ltd (Class A)		122
	712,374		Anhui Kouzi Distillery Co Ltd		5,573
	110,000		Anta Sports Products Ltd		909
	7,300	*	Anxin Trust Co Ltd		5
	11,500	*,e	Autohome, Inc (ADR)		956
	12,700		AVIC Aircraft Co Ltd		28
	28,700		Avic Capital Co Ltd		19
	3,900	*	AVIC Shenyang Aircraft Co Ltd		17
	291,000		AviChina Industry & Technology Co		143
	198,500	g	BAIC Motor Corp Ltd		123

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	72,900	*	Baidu, Inc (ADR)	$	7,491
	115,000		Bank of Beijing Co Ltd		86
	16,300		Bank of Chengdu Co Ltd		19
	178,700		Bank of China Ltd		90
	16,972,000		Bank of China Ltd (Hong Kong)		6,656
	217,300		Bank of Communications Co Ltd		166
	927,000		Bank of Communications Co Ltd (Hong Kong)		605
	16,700		Bank of Hangzhou Co Ltd		20
	31,900		Bank of Jiangsu Co Ltd		30
	28,900		Bank of Nanjing Co Ltd		35
	24,900		Bank of Ningbo Co Ltd		88
	69,322		Bank of Shanghai Co Ltd		91
	103,500		Baoshan Iron & Steel Co Ltd		86
	4,188	*,e	Baozun, Inc (ADR)		179
	12,500		BBMG Corp		6
	266,000		BBMG Corp (Class H)		76
	1,400	*	BeiGene Ltd (ADR)		171
	200,000		Beijing Capital International Airport Co Ltd		171
	22,500		Beijing Dabeinong Technology Group Co Ltd		14
	55,000		Beijing Enterprises Holdings Ltd		253
	614,000		Beijing Enterprises Water Group Ltd		314
	3,900		Beijing Shiji Information Technology Co Ltd		22
	10,900		Beijing Tongrentang Co Ltd		41
	169,200		BOE Technology Group Co Ltd		89
	332,000	e	Brilliance China Automotive Holdings Ltd		357
	8,700		BYD Co Ltd		59
	69,000	e	BYD Co Ltd (H shares)		343
	74,000	e	BYD Electronic International Co Ltd		111
	12,400		Caitong Securities Co Ltd		17
	1,214,000	g	CGN Power Co Ltd		307
	16,600		Changjiang Securities Co Ltd		16
	6,100		Chaozhou Three-Circle Group Co Ltd		17
	261,000		China Agri-Industries Holdings Ltd		85
	9,579,000	*,†,e	China Animal Healthcare Ltd		12
	93,000		China Aoyuan Group Ltd		105
	998,000		China Cinda Asset Management Co Ltd		196
	985,000		China Citic Bank		525
	20,000		China CITIC Bank Corp Ltd		16
	275,000		China Coal Energy Co		112
	10,400		China Communications Construction Co Ltd		15
	489,000		China Communications Construction Co Ltd (Hong Kong)		382
	266,000		China Communications Services Corp Ltd		151
	172,500		China Conch Venture Holdings Ltd		638
	57,400		China Construction Bank Corp		56
	23,333,000		China Construction Bank Corp (Hong Kong)		17,779
	310,000	*,e	China COSCO Holdings Co Ltd		110
	42,500	*	China Eastern Airlines Corp Ltd		31
	148,000	*	China Eastern Airlines Corp Ltd (H Shares)		72
	70,000	e	China Education Group Holdings Ltd		103
	211,600		China Everbright Bank Co Ltd		117
	372,000		China Everbright Bank Co Ltd (Hong Kong)		158
	10,457,392		China Everbright International Ltd		8,044

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	108,000		China Everbright Ltd	$	126
	200,000	e	China Evergrande Group		426
	14,141		China Fortune Land Development Co Ltd		53
	392,000		China Galaxy Securities Co Ltd		209
	7,400		China Gezhouba Group Co Ltd		6
	40,343		China Grand Automotive Services Co Ltd		22
	197,500		China Hongqiao Group Ltd		126
	1,168,000	g	China Huarong Asset Management Co Ltd		176
	162,400		China Insurance International Holdings Co Ltd		362
	124,800	e,g	China International Capital Corp Ltd		242
	9,300		China International Travel Service Corp Ltd		121
	1,603,000		China Life Insurance Co Ltd		3,694
	13,600		China Life Insurance Co Ltd (Class A)		52
	30,200	*,e,g	China Literature Ltd		103
	381,000		China Longyuan Power Group Corp		214
	156,000		China Medical System Holdings Ltd		185
	285,000		China Mengniu Dairy Co Ltd		1,067
	411,500		China Merchants Bank Co Ltd		1,957
	102,900		China Merchants Bank Co Ltd (Class A)		502
	162,511		China Merchants Holdings International Co Ltd		244
	27,200		China Merchants Securities Co Ltd		63
	32,600		China Merchants Shekou Industrial Zone Holdings Co Ltd		87
	189,100		China Minsheng Banking Corp Ltd		160
	777,300		China Minsheng Banking Corp Ltd (Hong Kong)		528
	1,624,000		China Mobile Hong Kong Ltd		13,453
	441,000	e	China Molybdenum Co Ltd		146
	65,100		China Molybdenum Co Ltd (Class A)		33
	374,000		China National Building Material Co Ltd		335
	19,500		China National Chemical Engineering Co Ltd		16
	67,600		China National Nuclear Power Co Ltd		50
	17,000		China Northern Rare Earth Group High-Tech Co Ltd		26
	198,000		China Oilfield Services Ltd		237
	134,000	e	China Oriental Group Co Ltd		46
	3,583,435		China Overseas Land & Investment Ltd		11,274
	31,900		China Pacific Insurance Group Co Ltd		156
	569,600		China Pacific Insurance Group Co Ltd (Hong Kong)		2,090
	570,000		China Power International Development Ltd		119
	227,500	e	China Railway Construction Corp		249
	62,813		China Railway Construction Corp Ltd		83
	102,000		China Railway Group Ltd		86
	421,000		China Railway Group Ltd (Hong Kong)		256
	166,000	g	China Railway Signal & Communication Corp Ltd		103
	728,000		China Reinsurance Group Corp		118
	150,000		China Resources Beer Holdings Company Ltd		795
	100,000		China Resources Gas Group Ltd		495
	291,836		China Resources Land Ltd		1,222
	194,000	g	China Resources Pharmaceutical Group Ltd		181
	220,000		China Resources Power Holdings Co		267
	8,400		China Resources Sanjiu Medical & Pharmaceutical Co Ltd		34
	22,300		China Shenhua Energy Co Ltd		59
	774,500		China Shenhua Energy Co Ltd (Hong Kong)		1,555

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	107,800		China Shipbuilding Industry Co Ltd	$	83
	4,500	*	China Shipbuilding Industry Group Power Co Ltd		14
	148,000		China Shipping Development Co Ltd		66
	128,000	e	China Southern Airlines Co Ltd		77
	24,400		China Southern Airlines Co Ltd (Class A)		23
	211,120		China State Construction Engineering Corp Ltd		161
	214,000	e	China State Construction International Holdings Ltd		201
	1,508,000		China Telecom Corp Ltd		687
	4,378,000	g	China Tower Corp Ltd		994
	660,000		China Unicom Ltd		699
	165,200		China United Network Communications Ltd		139
	163,000		China Vanke Co Ltd		567
	49,200		China Vanke Co Ltd (Class A)		179
	112,200		China Yangtze Power Co Ltd		287
	157,200	e	China Zhongwang Holdings Ltd		64
	15,600		Chongqing Changan Automobile Co Ltd		16
	289,000		Chongqing Rural Commercial Bank		154
	12,500		Chongqing Zhifei Biological Products Co Ltd		83
	234,535		CIFI Holdings Group Co Ltd		137
	619,000		Citic Pacific Ltd		781
	211,000		CITIC Securities Co Ltd		395
	50,600		CITIC Securities Co Ltd (Class A)		160
	4,800,000	e	CNOOC Ltd		7,349
	2,700		Contemporary Amperex Technology Co Ltd		27
	206,445		COSCO Pacific Ltd		165
	773,000		Country Garden Holdings Co Ltd		979
	128,000		Country Garden Services Holdings Co Ltd		369
	491,000		CRRC Corp Ltd		343
	125,400		CRRC Corp Ltd (Class A)		129
	492,000		CSPC Pharmaceutical Group Ltd		987
	106,500	*	Ctrip.com International Ltd (ADR)		3,119
	234,000	g	Dali Foods Group Co Ltd		144
	92,200		Daqin Railway Co Ltd		98
	396,000		Datang International Power Generation Co Ltd		82
	5,900		Dong-E-E-Jiao Co Ltd		25
	11,700		Dongfang Electric Corp Ltd		15
	286,000		Dongfeng Motor Group Co Ltd		272
	33,200		East Money Information Co Ltd		69
	82,000	e	ENN Energy Holdings Ltd		849
	17,200		Everbright Securities Co Ltd		27
	15,017	*	Fangda Carbon New Material Co Ltd		24
	227,000		Far East Horizon Ltd		211
	81,300		Focus Media Information Technology Co Ltd		60
	11,200		Foshan Haitian Flavouring & Food Co Ltd		173
	269,500		Fosun International		334
	25,800		Founder Securities Co Ltd		25
	14,800		Foxconn Industrial Internet Co Ltd		30
	500,000		Franshion Properties China Ltd		287
	160,000	e	Future Land Development Holdings Ltd		140
	11,500		Future Land Holdings Co Ltd		46
	13,800		Fuyao Glass Industry Group Co Ltd		42
	56,000	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		155
	108,500		GD Power Development Co Ltd		36

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	71,400	*,e	GDS Holdings Ltd (ADR)	$	2,862
	1,050,000		Geely Automobile Holdings Ltd		1,784
	15,300		Gemdale Corp		25
	102,000	*,e	Genscript Biotech Corp		195
	171,800	*	GF Securities Co Ltd		180
	31,300	*	GF Securities Co Ltd (Class A)		60
	5,700		Giant Network Group Co Ltd		15
	13,400		GoerTek, Inc		33
	1,263,000	*,e	GOME Electrical Appliances Holdings Ltd		114
	364,000	e	Great Wall Motor Co Ltd		244
	15,800		Gree Electric Appliances, Inc of Zhuhai		127
	29,400		Greenland Holdings Corp Ltd		29
	118,000	e	Greentown Service Group Co Ltd		116
	304,000		Guangdong Investments Ltd		595
	122,700		Guanghui Energy Co Ltd		57
	60,200		Guangshen Railway Co Ltd		26
	332,000	e	Guangzhou Automobile Group Co Ltd (Hong Kong)		318
	6,600		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		32
	105,200		Guangzhou R&F Properties Co Ltd		159
	10,000		Guosen Securities Co Ltd		17
	39,500		Guotai Junan Securities Co Ltd		97
	94,000	e,g	Guotai Junan Securities Co Ltd (Hong Kong)		146
	38,000	g	Haidilao International Holding Ltd		162
	73,000		Haitian International Holdings Ltd		149
	10,882,692		Haitong Securities Co Ltd		11,414
	41,200		Haitong Securities Co Ltd (Class A)		83
	47,400		Hangzhou Hikvision Digital Technology Co Ltd		215
	4,230		Hangzhou Robam Appliances Co Ltd		16
	3,300		Hangzhou Tigermed Consulting Co Ltd		29
	13,500		Heilan Home Co Ltd		15
	17,800		Henan Shuanghui Investment & Development Co Ltd		62
	1,438,000		Hengan International Group Co Ltd		9,423
	23,780		Hengli Petrochemical Co Ltd		50
	2,408,000	*,e	HengTen Networks Group Ltd		37
	3,200		Hengtong Optic-electric Co Ltd		7
	12,800		Hengyi Petrochemical Co Ltd		23
	16,900		Hesteel Co Ltd		6
	1,300		Hithink RoyalFlush Information Network Co Ltd		18
	4,760		Hopewell Highway Infrastructure Ltd		2
	50,000	e,g	Hua Hong Semiconductor Ltd		100
	230,000		Huadian Power International Corp Ltd		87
	38,700		Huadian Power International Corp Ltd (Class A)		19
	12,340		Huadong Medicine Co Ltd		45
	26,300		Huaneng Power International, Inc		21
	434,000		Huaneng Power International, Inc (Hong Kong)		209
	562,000		Huaneng Renewables Corp Ltd		191
	173,600	g	Huatai Securities Co Ltd		260
	34,000		Huatai Securities Co Ltd (Class A)		91
	47,300		Huaxia Bank Co Ltd		49
	14,600		Huayu Automotive Systems Co Ltd		48
	14,500		Huazhu Group Ltd (ADR)		479
	2,210		Hundsun Technologies, Inc		23
	7,100	*	Hutchison China MediTech Ltd (ADR)		127

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	481,800	*	HUYA, Inc (ADR)	$	11,390
	11,800	*	Iflytek Co Ltd		53
	12,613,000		Industrial & Commercial Bank of China		8,450
	274,900		Industrial & Commercial Bank of China Ltd		213
	103,400		Industrial Bank Co Ltd		254
	19,700		Industrial Securities Co Ltd		17
	210,600		Inner Mongolia BaoTou Steel Union Co Ltd		43
	32,400		Inner Mongolia Yili Industrial Group Co Ltd		130
	130,700		Inner Mongolia Yitai Coal Co		120
	14,700	*,e	IQIYI, Inc (ADR)		237
	180,900	*	JD.com, Inc (ADR)		5,103
	144,000		Jiangsu Express		183
	23,060		Jiangsu Hengrui Medicine Co Ltd		261
	8,200		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		120
	139,000		Jiangxi Copper Co Ltd		161
	5,558		Jiangxi Copper Co Ltd (Class A)		11
	3,700		Jiangxi Ganfeng Lithium Co Ltd		12
	20,100		Jinke Properties Group Co Ltd		18
	14,400		Jointown Pharmaceutical Group Co Ltd		29
	274,000	e	Kaisa Group Holdings Ltd		120
	73,500		Kingboard Chemical Holdings Ltd		195
	233,000		Kingdee International Software Group Co Ltd		245
	84,000	*,e	Kingsoft Corp Ltd		178
	6,100		Kweichow Moutai Co Ltd		983
	106,564		KWG Property Holding Ltd		93
	40,900	g	Legend Holdings Corp		88
	764,000		Lenovo Group Ltd		510
	14,000		Lens Technology Co Ltd		20
	8,700		Lepu Medical Technology Beijing Co Ltd		31
	201,500		Li Ning Co Ltd		578
	25,600	*	Liaoning Cheng Da Co Ltd		47
	120,000		Logan Property Holdings Co Ltd		171
	185,000	g	Longfor Properties Co Ltd		691
	15,660		LONGi Green Energy Technology Co Ltd		58
	24,001		Luxshare Precision Industry Co Ltd		90
	139,500	e,g	Luye Pharma Group Ltd		100
	7,400		Luzhou Laojiao Co Ltd		88
	234,000	e	Maanshan Iron & Steel Co Ltd		88
	9,712		Maanshan Iron & Steel Co Ltd (Class A)		4
	2,700	*	Mango Excellent Media Co Ltd		17
	15,600		Meinian Onehealth Healthcare Holdings Co Ltd		27
	257,500	*,e,g	Meitu, Inc		59
	104,900	*	Meituan Dianping (Class B)		1,071
	61,200		Metallurgical Corp of China Ltd		24
	350,000		Metallurgical Corp of China Ltd (Hong Kong)		79
	18,100		Midea Group Co Ltd		130
	27,100		Momo, Inc (ADR)		840
	7,900		Muyuan Foodstuff Co Ltd		78
	21,100		NARI Technology Co Ltd		61
	53,000		Neo-China Land Group Holdings Ltd		7
	15,300		Netease.com (ADR)		4,073
	10,900		New China Life Insurance Co Ltd		74
	89,800		New China Life insurance Co Ltd (Hong Kong)		355

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	14,500		New Hope Liuhe Co Ltd	$	35
	29,000	*	New Oriental Education & Technology Group (ADR)		3,212
	51,000		Ningbo Zhoushan Port Co Ltd		27
	74,700	*,e	NIO, Inc (ADR)		117
	3,800	*,e	Noah Holdings Ltd (ADR)		111
	44,900		Offshore Oil Engineering Co Ltd		34
	3,100	*	O-film Tech Co Ltd		5
	1,400		Oppein Home Group, Inc		22
	23,200		Orient Securities Co Ltd		33
	935,000		People’s Insurance Co Group of China Ltd		374
	720,000		PICC Property & Casualty Co Ltd		840
	20,191	*,e	Pinduoduo, Inc (ADR)		651
	85,100		Ping An Bank Co Ltd		186
	6,709,703		Ping An Insurance Group Co of China Ltd		77,119
	53,100		Ping An Insurance Group Co of China Ltd (Class A)		648
	59,600		Poly Real Estate Group Co Ltd		120
	829,000	g	Postal Savings Bank of China Co Ltd		506
	37,300		Power Construction Corp of China Ltd		24
	33,700		Qingdao Haier Co Ltd		72
	21,100		RiseSun Real Estate Development Co Ltd		24
	14,800		Rongsheng Petro Chemical Co Ltd		23
	39,800		SAIC Motor Corp Ltd		133
	21,500		Sanan Optoelectronics Co Ltd		42
	39,500		Sany Heavy Industry Co Ltd		79
	12,500		SDIC Capital Co Ltd		22
	31,700		SDIC Power Holdings Co Ltd		40
	331,500	*,e	Semiconductor Manufacturing International Corp		415
	4,600		SF Holding Co Ltd		25
	33,200		Shaanxi Coal Industry Co Ltd		41
	7,670		Shandong Buchang Pharmaceuticals Co Ltd		20
	10,500		Shandong Gold Mining Co Ltd		50
	220,000		Shandong Weigao Group Medical Polymer Co Ltd		227
	26,600		Shanghai Electric Group Co Ltd		19
	298,000		Shanghai Electric Group Co Ltd (Hong Kong)		96
	13,800		Shanghai Fosun Pharmaceutical Group Co Ltd		49
	62,500		Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		168
	53,000		Shanghai Industrial Holdings Ltd		99
	5,200		Shanghai International Airport Co Ltd		58
	31,600		Shanghai International Port Group Co Ltd		25
	139,669		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		157
	13,500		Shanghai Oriental Pearl Group Co Ltd		17
	13,300		Shanghai Pharmaceuticals Holding Co Ltd		34
	103,900		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		188
	144,200		Shanghai Pudong Development Bank Co Ltd		239
	8,100		Shanghai Zhangjiang High-Tech Park Development Co Ltd		18
	18,279		Shanxi Lu’an Environmental Energy Development Co Ltd		19
	2,600		Shanxi Xinghuacun Fen Wine Factory Co Ltd		28
	17,900		Shanxi Xishan Coal & Electricity Power Co Ltd		15
	100,000		Shenwan Hongyuan Group Co Ltd		67
	5,200		Shenzhen Inovance Technology Co Ltd		18

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	103,985		Shenzhen International Holdings Ltd	$	200
	298,000		Shenzhen Investment Ltd		110
	6,300		Shenzhen Kangtai Biological Products Co Ltd		66
	1,700		Shenzhen Mindray Bio-Medical Electronics Co Ltd		44
	33,300		Shenzhen Overseas Chinese Town Co Ltd		33
	8,000		Shenzhen Salubris Pharmaceuticals Co Ltd		21
	78,600		Shenzhou International Group Holdings Ltd		1,025
	111,500		Shimao Property Holdings Ltd		326
	430,500		Shui On Land Ltd		86
	22,500		Sichuan Chuantou Energy Co Ltd		31
	8,300		Sichuan Kelun Pharmaceutical Co Ltd		30
	479,000		Sihuan Pharmaceutical Holdings		73
	7,112	*	Sina Corp		279
	338,000		Sino-Ocean Land Holdings Ltd		115
	157,000		Sinopec Engineering Group Co Ltd		99
	506,000		Sinopec Shanghai Petrochemical Co Ltd		147
	45,000		Sinopec Shanghai Petrochemical Co Ltd (Class A)		26
	127,600		Sinopharm Group Co		399
	271,000		Sinotrans Ltd		85
	75,500		Sinotruk Hong Kong Ltd		112
	253,500		Soho China Ltd		72
	6,400		Songcheng Performance Development Co Ltd		25
	2,800		Spring Airlines Co Ltd		17
	239,000		Sunac China Holdings Ltd		961
	43,300		Suning.com Co Ltd		63
	1,032,500		Sunny Optical Technology Group Co Ltd		15,156
	73,700	*	TAL Education Group (ADR)		2,523
	10,900		Tasly Pharmaceutical Group Co Ltd		24
	6,500		TBEA Co Ltd		6
	60,200		TCL Corp		30
	4,285,100		Tencent Holdings Ltd		179,237
	10,700	*,e	Tencent Music Entertainment (ADR)		137
	8,200		Tianma Microelectronics Co Ltd		16
	1,500		Tianqi Lithium Corp		6
	9,840,000		Tingyi Cayman Islands Holding Corp		13,853
	83,000		Tong Ren Tang Technologies Co Ltd		75
	11,500		Tonghua Dongbao Pharmaceutical Co Ltd		28
	12,600		Tongwei Co Ltd		22
	106,000		Travelsky Technology Ltd		220
	42,000		Tsingtao Brewery Co Ltd		253
	3,200		Tsingtao Brewery Co Ltd (Class A)		22
	150,000		Uni-President China Holdings Ltd		162
	47,500	*	Vipshop Holdings Ltd (ADR)		424
	12,500		Walvax Biotechnology Co Ltd		47
	10,700		Wangsu Science & Technology Co Ltd		15
	16,600		Wanhua Chemical Group Co Ltd		103
	540,000		Want Want China Holdings Ltd		431
	10,800	*,e	Weibo Corp (ADR)		483
	211,000		Weichai Power Co Ltd		304
	29,000		Weichai Power Co Ltd (Class A)		46
	25,400		Wens Foodstuffs Group Co Ltd		132
	8,200		Western Securities Co Ltd		10
	306,000		Winteam Pharmaceutical Group Ltd		140

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	8,300		Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd	$	21
	19,100		Wuliangye Yibin Co Ltd		348
	8,100		WuXi AppTec Co Ltd		98
	18,400	e,g	WuXi AppTec Co Ltd (Hong Kong)		201
	284,950	*,g	Wuxi Biologics Cayman, Inc		2,906
	29,400		XCMG Construction Machinery Co Ltd		18
	821,000	*,e,g	Xiaomi Corp		922
	14,900		Xinjiang Goldwind Science & Technology Co Ltd		26
	94,600		Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		112
	348,575		Xinyi Solar Holdings Ltd		209
	88,749		Yangzijiang Shipbuilding		62
	190,000		Yanzhou Coal Mining Co Ltd		193
	12,300		Yanzhou Coal Mining Co Ltd (Class A)		18
	47,000		Yihai International Holding Ltd		279
	49,500		Yonghui Superstores Co Ltd		62
	9,230		Yonyou Network Technology Co Ltd		40
	738,000		Yuexiul Property Co Ltd		160
	577,983		Yum China Holdings, Inc		26,258
	5,700		Yunda Holding Co Ltd		27
	7,000		Yunnan Baiyao Group Co Ltd		75
	208,455		Yuzhou Properties Co		83
	6,200	*	YY, Inc (ADR)		349
	2,800		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		40
	121,000		Zhaojin Mining Industry Co Ltd		140
	7,500		Zhejiang Chint Electrics Co Ltd		23
	13,000		Zhejiang Dahua Technology Co Ltd		31
	164,000		Zhejiang Expressway Co Ltd		142
	2,210		Zhejiang Huayou Cobalt Co Ltd		8
	8,000		Zhejiang Longsheng Group Co Ltd		16
	9,900		Zhengzhou Yutong Bus Co Ltd		19
	38,300	*,e,g	ZhongAn Online P&C Insurance Co Ltd		90
	18,300		Zhongjin Gold Corp Ltd		22
	58,500		Zhongsheng Group Holdings Ltd		185
	60,200		Zhuzhou CSR Times Electric Co Ltd		249
	686,000		Zijin Mining Group Co Ltd		237
	100,100		Zijin Mining Group Co Ltd (Class A)		46
	22,000		Zoomlion Heavy Industry Science and Technology Co Ltd		18
	16,000	*	ZTE Corp		72
	81,800	*,e	ZTE Corp (Class H)		217
	34,000		ZTO Express Cayman, Inc (ADR)		725
			TOTAL CHINA		692,869
COLOMBIA - 0.0%
	23,643		BanColombia S.A.		268
	47,977		BanColombia S.A. (Preference)		593
	56,758		Cementos Argos S.A.		121
	587,204		Ecopetrol S.A.		498
	27,320		Grupo Argos S.A.		134
	449,693		Grupo Aval Acciones y Valores		168
	24,325		Grupo de Inversiones Suramericana S.A.		231

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	12,582		Grupo de Inversiones Suramericana S.A. (Preference)	$	106
	46,744		Interconexion Electrica S.A.		245
			TOTAL COLOMBIA		2,364
CZECH REPUBLIC - 0.0%
	16,358		CEZ AS		361
	7,335		Komercni Banka AS		248
	1,365,424	g	Moneta Money Bank AS		4,208
			TOTAL CZECH REPUBLIC		4,817
DENMARK - 1.0%
	146		AP Moller - Maersk AS (Class A)		156
	246		AP Moller - Maersk AS (Class B)		278
	4,019		Carlsberg AS (Class B)		594
	3,974		Christian Hansen Holding		337
	4,468		Coloplast AS		538
	24,387		Danske Bank AS		339
	255,081		DSV AS		24,245
	2,442	*	Genmab AS		496
	2,630		H Lundbeck AS		87
	5,747		ISS AS		142
	2,064,399		Novo Nordisk AS		106,680
	8,011		Novozymes AS		337
	589,496	g	Orsted AS		54,799
	3,518		Pandora AS		141
	189,074		Tryg A.S.		5,417
	17,421		Vestas Wind Systems AS		1,351
	4,444	*	William Demant Holding A.S.		114
			TOTAL DENMARK		196,051
EGYPT - 0.0%
	143,313		Commercial International Bank		683
	95,731		Eastern Tobacco		100
	91,130		ElSwedy Cables Holding Co		75
			TOTAL EGYPT		858
FINLAND - 0.1%
	9,277	e	Citycon OYJ		97
	5,187		Elisa Oyj (Series A)		267
	360,496		Fortum Oyj		8,521
	27,124		Kone Oyj (Class B)		1,544
	4,136		Metso Oyj		154
	33,316	e	Neste Oil Oyj		1,102
	455,325		Nokia Oyj (Turquoise)		2,300
	4,912		Nokian Renkaat Oyj		139
	283,631		Nordea Bank Abp		2,012
	2,048		Nordea Bank Abp		15
	3,923		Orion Oyj (Class B)		146
	260,241		Sampo Oyj (A Shares)		10,340
	63,356		Stora Enso Oyj (R Shares)		762
	44,440		UPM-Kymmene Oyj		1,312
	16,308	e	Wartsila Oyj (B Shares)		183
			TOTAL FINLAND		28,894

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
FRANCE - 3.7%
	163,463		Accor S.A.	$	6,814
	1,129		Aeroports de Paris		201
	35,705		Air Liquide		5,081
	981,995		Airbus SE		127,491
	7,125		Alstom RGPT		295
	2,420	g	Amundi S.A.		169
	5,693		Arkema		531
	7,293		Atos Origin S.A.		513
	156,406		AXA S.A.		3,994
	1,505		BioMerieux		124
	1,278,491		BNP Paribas		62,156
	32,647		Bollore		135
	8,386		Bouygues S.A.		336
	10,802		Bureau Veritas S.A.		260
	192,098		Cap Gemini S.A.		22,620
	51,965		Carrefour S.A.		909
	1,699	e	Casino Guichard Perrachon S.A.		81
	2,490		Christian Dior S.A.		1,178
	6,670		CNP Assurances		129
	453,654		Compagnie de Saint-Gobain		17,780
	791,968		Credit Agricole S.A.		9,586
	174,255		Danone		15,349
	98		Dassault Aviation S.A.		139
	399,698		Dassault Systemes S.A.		56,939
	18,631		Edenred		894
	3,075		Eiffage S.A.		319
	86,072		Electricite de France		963
	229,241		Essilor International S.A.		33,052
	1,487		Eurazeo		111
	5,557		Eutelsat Communications		103
	2,924		Faurecia		139
	5,347		Fonciere Des Regions		566
	292,735		Gaz de France		4,778
	6,098		Gecina S.A.		958
	16,229		Groupe Eurotunnel S.A.		244
	1,941		Hermes International		1,341
	7,214		Icade		645
	953	e	Iliad S.A.		89
	1,374		Imerys S.A.		55
	2,270		Ingenico		221
	1,478		Ipsen		140
	3,055	e	JC Decaux S.A.		83
	108,061		Kering		55,066
	15,606		Klepierre		530
	22,219		Legrand S.A.		1,585
	153,113		L’Oreal S.A.		42,821
	68,683		LVMH Moet Hennessy Louis Vuitton S.A.		27,251
	52,403		Michelin (C.G.D.E.) (Class B)		5,835
	36,786		Natixis		152
	319,131		Orange S. A.		4,995

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	17,746		Pernod-Ricard S.A.	$	3,158
	361,254		Peugeot S.A.		9,016
	7,917		Publicis Groupe S.A.		390
	86,960	e	Remy Cointreau S.A.		11,543
	15,965		Renault S.A.		916
	24,748		Safran S.A.		3,897
	344,363		Sanofi-Aventis		31,899
	17,039		Sartorius Stedim Biotech		2,383
	735,801		Schneider Electric S.A.		64,340
	5,958		SCOR SE		246
	823		SEB S.A.		125
	864	e	Societe BIC S.A.		58
	61,982		Societe Generale		1,698
	7,577		Sodexho Alliance S.A.		851
	59,102		Suez Environnement S.A.		929
	127,155		Teleperformance		27,552
	4,006		Thales S.A.		460
	814,916		Total S.A.		42,430
	3,179	*	Ubisoft Entertainment		229
	5,092		Unibail-Rodamco-Westfield		742
	111		Unibail-Rodamco-Westfield (Paris)		16
	19,275		Valeo S.A.		625
	881	*,e	Vallourec SA		2
	84,417		Veolia Environnement		2,138
	183,978		Vinci S.A.		19,818
	90,004		Vivendi Universal S.A.		2,463
	1,015		Wendel		140
	4,557	*,g	Worldline S.A.		287
			TOTAL FRANCE		744,097
GERMANY - 1.5%
	44,493		Adidas-Salomon AG.		13,853
	2,319	g	ADO Properties S.A.		96
	96,476		Allianz AG.		22,457
	334,878		Alstria Office REIT-AG.		5,745
	334,656		Aroundtown S.A.		2,737
	1,816	*	Axel Springer SE		125
	221,728		BASF SE		15,503
	556,179		Bayer AG.		39,184
	28,790		Bayerische Motoren Werke AG.		2,028
	2,287		Bayerische Motoren Werke AG. (Preference)		127
	57,600		Bechtle AG.		5,862
	142,139		Beiersdorf AG.		16,759
	1,004,461		Borussia Dortmund GmbH & Co KGaA		10,105
	6,034		Brenntag AG.		292
	18,541		Carl Zeiss Meditec AG.		2,113
	36,562		Commerzbank AG.		212
	9,210		Continental AG.		1,182
	38,203	g	Covestro AG.		1,890
	655,278		Daimler AG. (Registered)		32,578
	4,291	*,g	Delivery Hero AG.		190
	59,677		Deutsche Annington Immobilien SE		3,028
	169,080		Deutsche Bank AG. (Registered)		1,263

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	108,451		Deutsche Boerse AG.	$	16,914
	4,058		Deutsche Euroshop AG.		114
	9,038		Deutsche Lufthansa AG.		143
	81,696		Deutsche Post AG.		2,723
	696,759		Deutsche Telekom AG.		11,687
	57,752		Deutsche Wohnen AG.		2,108
	1,379		Drillisch AG.		43
	363,453		E.ON AG.		3,534
	7,334		Evonik Industries AG.		181
	1,619		Fraport AG. Frankfurt Airport Services Worldwide		137
	65,934		Fresenius Medical Care AG.		4,431
	49,505		Fresenius SE		2,316
	5,994		Fuchs Petrolub AG. (Preference)		225
	5,587		GEA Group AG.		151
	9,590		Grand City Properties S.A.		216
	2,250		Hannover Rueckversicherung AG.		380
	12,075		HeidelbergCement AG.		872
	304,500	*	HelloFresh SE		4,620
	26,023		Henkel KGaA		2,382
	14,903		Henkel KGaA (Preference)		1,475
	1,080		Hochtief AG.		123
	2,239		Hugo Boss AG.		120
	98,941		Infineon Technologies AG.		1,778
	7,882		K&S AG.		109
	2,288		KION Group AG.		120
	1,880		Knorr-Bremse AG.		177
	7,475		Lanxess AG.		457
	5,798		LEG Immobilien AG.		663
	4,855		Merck KGaA		547
	6,839		Metro Wholesale & Food Specialist AG.		108
	1,954		MTU Aero Engines Holding AG.		519
	13,362		Muenchener Rueckver AG.		3,451
	578	*	OSRAM Licht AG.		25
	414,504	*	Paion AG.		1,021
	12,752		Porsche AG.		827
	5,925		Puma AG. Rudolf Dassler Sport		458
	338,964		RWE AG.		10,593
	79,320		SAP AG.		9,334
	1,339		Sartorius AG.		244
	109,347		Siemens AG.		11,705
	5,636	g	Siemens Healthineers AG.		222
	4,840		Symrise AG.		470
	11,596		TAG Tegernsee Immobilien und Beteiligungs AG.		265
	34,854		Telefonica Deutschland Holding AG.		97
	34,935		ThyssenKrupp AG.		483
	5,798		TLG Immobilien AG.		158
	17,035		TUI AG. (DI)		198
	16,772		Uniper SE		550
	4,635		United Internet AG.		165
	6,376		Volkswagen AG.		1,096
	10,598		Volkswagen AG. (Preference)		1,803
	85,832		Wirecard AG.		13,737
	115,204	*,g	Zalando SE		5,260
			TOTAL GERMANY		298,864

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
GREECE - 0.0%
	130,627	*	Alpha Bank AE	$	244
	244,723	*	Eurobank Ergasias S.A.		237
	5,760	*,†	Hellenic Duty Free Shops S.A.		0	^
	26,127		Hellenic Telecommunications Organization S.A.		360
	11,700		JUMBO S.A.		222
	6,887		Motor Oil Hellas Corinth Refineries S.A.		161
	49,061	*	National Bank of Greece S.A.		149
	25,593		OPAP S.A.		263
			TOTAL GREECE		1,636
HONG KONG - 0.7%
	3,349,758		AIA Group Ltd		31,592
	1,530,000	*	Alibaba Pictures Group Ltd		248
	11,018		ASM Pacific Technology		134
	177,269	e	Bank of East Asia Ltd		437
	141,853		BOC Hong Kong Holdings Ltd		481
	332,000		Bosideng International Holdings Ltd		141
	99,000	e	Cathay Pacific Airways Ltd		124
	72,000	†	China Ding Yi Feng Holdings Ltd		159
	338,000	*	China First Capital Group Ltd		99
	190,600	e	China Gas Holdings Ltd		736
	14,167,999		China Resources Cement Holdings Ltd		14,210
	98,625		CK Asset Holdings Ltd		668
	103,043		CK Hutchison Holdings Ltd		910
	58,953		CK Infrastructure Holdings Ltd		397
	211,454		CLP Holdings Ltd		2,223
	13,800		Dairy Farm International Holdings Ltd		87
	141,000		Haier Electronics Group Co Ltd		367
	379,576		Hang Lung Properties Ltd		862
	29,272		Hang Seng Bank Ltd		631
	207,082		Henderson Land Development Co Ltd		965
	105,000		HK Electric Investments & HK Electric Investments Ltd		100
	143,660		HKT Trust and HKT Ltd		228
	1,252,980		Hong Kong & China Gas Ltd		2,442
	162,488		Hong Kong Electric Holdings Ltd		1,091
	219,628		Hong Kong Exchanges and Clearing Ltd		6,437
	2,928,285		Hongkong Land Holdings Ltd		16,464
	81,760		Hysan Development Co Ltd		330
	8,500		Jardine Matheson Holdings Ltd		455
	8,500		Jardine Strategic Holdings Ltd		254
	104,526		Kerry Properties Ltd		322
	123,500		Kingboard Laminates Holdings Ltd		111
	150,000		Lee & Man Paper Manufacturing Ltd		81
	168,526		Link REIT		1,859
	804,669		Melco Crown Entertainment Ltd (ADR)		15,619
	61,580		MTR Corp		345
	800,492		New World Development Co Ltd		1,040
	188,000	e	Nine Dragons Paper Holdings Ltd		158
	56,638		NWS Holdings Ltd		88
	175,262		PCCW Ltd		98

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	10,243,992	e	Shangri-La Asia Ltd	$	10,441
	732,500		Sino Biopharmaceutical		930
	115,043		Sino Land Co		173
	69,611	e	SJM Holdings Ltd		66
	174,000		SSY Group Ltd		137
	255,000		Sun Art Retail Group Ltd		259
	176,968		Sun Hung Kai Properties Ltd		2,543
	20,128		Swire Pacific Ltd (Class A)		187
	1,195,016		Swire Properties Ltd		3,750
	51,902		Techtronic Industries Co		361
	131,000		Towngas China Co Ltd		98
	28,000	e	Vitasoy International Holdings Ltd		114
	380,000	g	WH Group Ltd		340
	144,053		Wharf Holdings Ltd		314
	2,869,779		Wharf Real Estate Investment Co Ltd		15,673
	31,334		Wheelock & Co Ltd		179
	25,412		Yue Yuen Industrial Holdings		69
			TOTAL HONG KONG		138,627
HUNGARY - 0.0%
	49,064		MOL Hungarian Oil & Gas plc		462
	22,168		OTP Bank		923
	14,598		Richter Gedeon Rt		236
			TOTAL HUNGARY		1,621
INDIA - 0.6%
	65,591		Ambuja Cements Ltd		189
	139,388		Ashok Leyland Ltd		135
	29,597		Asian Paints Ltd		737
	30,346		Aurobindo Pharma Ltd		252
	12,724	*,g	Avenue Supermarts Ltd		334
	197,954		Axis Bank Ltd		1,916
	18,066		Bajaj Finance Ltd		1,033
	4,001		Bajaj Finserv Ltd		481
	9,061		Bajaj Holdings and Investment Ltd		376
	24,019		Bharat Forge Ltd		151
	68,351		Bharat Petroleum Corp Ltd		455
	212,587		Bharti Airtel Ltd		1,102
	39,325		Bharti Infratel Ltd		143
	710		Bosch Ltd		141
	6,167		Britannia Industries Ltd		256
	40,536	*	Cipla Ltd		243
	134,661		Coal India Ltd		380
	440,384		Container Corp Of India Ltd		3,761
	55,073		Dabur India Ltd		348
	9,147		Divi S Laboratories Ltd		215
	12,071		Dr Reddy’s Laboratories Ltd		460
	1,452		Eicher Motors Ltd		365
	2,381,989	*	Emami Ltd		10,712
	180,379	*	GAIL India Ltd		343
	18,309		Glenmark Pharmaceuticals Ltd		84
	38,151		Godrej Consumer Products Ltd		370
	28,651		Grasim Industries Ltd		295

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	26,241		Havells India Ltd	$	266
	56,306		HCL Technologies Ltd		859
	54,022	g	HDFC Life Insurance Co Ltd		459
	10,609		Hero Honda Motors Ltd		405
	116,220		Hindalco Industries Ltd		314
	67,004		Hindustan Lever Ltd		1,875
	64,486		Hindustan Petroleum Corp Ltd		275
	168,523		Housing Development Finance Corp		4,704
	498,559		ICICI Bank Ltd		3,038
	13,688	g	ICICI Lombard General Insurance Co Ltd		234
	862,832	*	Idea Cellular Ltd		75
	1,838,686		Indiabulls Housing Finance Ltd		6,664
	207,883		Indian Oil Corp Ltd		433
	910,068		Infosys Technologies Ltd		10,303
	9,109	*,g	InterGlobe Aviation Ltd		243
	538,196		ITC Ltd		1,975
	91,043		JSW Steel Ltd		296
	49,886		Larsen & Toubro Ltd		1,039
	29,348		LIC Housing Finance Ltd		156
	25,629	*	Lupin Ltd		259
	31,019		Mahindra & Mahindra Financial Services Ltd		144
	80,295		Mahindra & Mahindra Ltd		621
	46,738		Marico Ltd		260
	11,058		Maruti Suzuki India Ltd		1,048
	105,957	*	Motherson Sumi Systems Ltd		157
	355,325	*	Multi Commodity Exchange of India Ltd		4,820
	63,858	*	Mundra Port and Special Economic Zone Ltd		373
	2,354		Nestle India Ltd		462
	253,633		NTPC Ltd		421
	557		Page Industries Ltd		177
	60,288		Petronet LNG Ltd		221
	12,181	*	Pidilite Industries Ltd		248
	10,095		Piramal Healthcare Ltd		233
	189,616		Power Grid Corp of India Ltd		533
	1,022,160		Reliance Industries Ltd		19,246
	75,911		Rural Electrification Corp Ltd		132
	192,449		Sesa Sterlite Ltd		419
	851		Shree Cement Ltd		227
	1,138,009		Shriram Transport Finance Co Ltd		17,211
	185,041	*	State Bank of India		708
	89,151		Sun Pharmaceutical Industries Ltd		491
	92,872		Tata Consultancy Services Ltd		2,751
	157,363	*	Tata Motors Ltd		261
	111,242		Tata Power Co Ltd		98
	36,861		Tata Steel Ltd		188
	48,721		Tech Mahindra Ltd		492
	32,369		Titan Industries Ltd		582
	10,166		Ultra Tech Cement Ltd		623
	55,233	*	United Phosphorus Ltd		471
	30,778	*	United Spirits Ltd		290
	123,921		Wipro Ltd		420
	193,735		Yes Bank Ltd		113
	56,687	*	ZEE Telefilms Ltd		213
			TOTAL INDIA		113,803

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
INDONESIA - 0.2%
	1,538,000		Adaro Energy Tbk	$	140
	44,362,700		Bank Rakyat Indonesia		12,881
	220,300		Indofood CBP Sukses Makmur Tbk		187
	4,273,900		PT Astra International Tbk		1,987
	2,072,100		PT Bank Central Asia Tbk		4,430
	25,014,547		PT Bank Mandiri Persero Tbk		12,304
	783,100		PT Bank Negara Indonesia		405
	425,700		PT Bank Tabungan Negara Tbk		59
	2,791,000		PT Barito Pacific Tbk		195
	428,100	*	PT Bumi Serpong Damai		42
	714,200		PT Charoen Pokphand Indonesia Tbk		269
	54,600		PT Gudang Garam Tbk		201
	1,020,400		PT Hanjaya Mandala Sampoerna Tbk		165
	281,300		PT Indah Kiat Pulp and Paper Corp Tbk		128
	182,100		PT Indocement Tunggal Prakarsa Tbk		240
	458,300		PT Indofood Sukses Makmur Tbk		249
	249,500		PT Jasa Marga Tbk		100
	2,164,000		PT Kalbe Farma Tbk		255
	125,300		PT Pabrik Kertas Tjiwi Kimia Tbk		93
	1,675,500		PT Pakuwon Jati Tbk		79
	1,381,000		PT Perusahaan Gas Negara Persero Tbk		204
	291,700		PT Semen Gresik Persero Tbk		237
	604,800		PT Surya Citra Media Tbk		49
	352,100		PT Tambang Batubara Bukit Asam Tbk		56
	10,519,200		PT Telekomunikasi Indonesia Persero Tbk		3,177
	162,300		PT Unilever Indonesia Tbk		532
	183,000		PT United Tractors Tbk		265
			TOTAL INDONESIA		38,929
IRELAND - 0.5%
	4,731	*	AerCap Holdings NV		259
	26,840		AIB Group plc		80
	880,219		Bank of Ireland Group plc		3,488
	627,452		CRH plc		21,537
	2,302,262		Green REIT plc		4,783
	6,402,004		Hibernia REIT plc		10,257
	147,992	*,†	Irish Bank Resolution Corp Ltd		0
	104,395		Kerry Group plc (Class A)		12,209
	577,276	e	Keywords Studios plc		8,130
	5,786		Kingspan Group plc		282
	2,898		Paddy Power plc		271
	940,065		Smurfit Kappa Group plc		27,954
			TOTAL IRELAND		89,250
ISRAEL - 0.0%
	1,503		Azrieli Group		118
	138,688	*	Bank Hapoalim Ltd		1,093
	177,135		Bank Leumi Le-Israel		1,261
	4,579	*	Check Point Software Technologies		501
	889		Elbit Systems Ltd		148

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	29,109		Israel Chemicals Ltd	$	146
	6	*	Israel Corp Ltd		1
	43,032		Israel Discount Bank Ltd		189
	21,564		Mizrahi Tefahot Bank Ltd		536
	5,391	*	Nice Systems Ltd		777
	40,637	*	Teva Pharmaceutical Industries Ltd (ADR)		280
	14	*	Tower Semiconductor Ltd		0	^
	1,771	*	Wix.com Ltd		207
			TOTAL ISRAEL		5,257
ITALY - 1.0%
	578,800		Amplifon S.p.A.		14,200
	94,834		Assicurazioni Generali S.p.A.		1,838
	37,605		Autostrade S.p.A.		909
	2,343,584		Banca Intesa S.p.A.		5,552
	2,349,827		Davide Campari-Milano S.p.A		21,226
	1,359,093		Enel S.p.A.		10,151
	212,528		ENI S.p.A.		3,248
	201,676		Ferrari NV		31,121
	22,047		FinecoBank Banca Fineco S.p.A		233
	14,987		Finmeccanica S.p.A.		176
	18,512		Italgas S.p.A		119
	844,050		Mediobanca S.p.A.		9,213
	551,313		Moncler S.p.A		19,651
	12,814	g	Pirelli & C S.p.A		76
	19,506	g	Poste Italiane S.p.A		222
	15,585,236	e	Prada S.p.A		45,369
	8,592		Prysmian S.p.A.		185
	4,058		Recordati S.p.A.		174
	169,109		Snam Rete Gas S.p.A.		854
	242,892		Telecom Italia RSP		133
	375,567	*	Telecom Italia S.p.A.		214
	120,584		Terna Rete Elettrica Nazionale S.p.A.		775
	3,193,847		UniCredit S.p.A.		37,646
			TOTAL ITALY		203,285
JAPAN - 6.8%
	1,310		ABC-Mart, Inc		83
	17,300	e	Acom Co Ltd		68
	121		Activia Properties Inc		618
	7,400		Advantest Corp		330
	24,746		Aeon Co Ltd		455
	3,652	e	AEON Financial Service Co Ltd		55
	3,597		Aeon Mall Co Ltd		57
	18,872		Air Water, Inc		339
	148,490		Aisin Seiki Co Ltd		4,695
	61,168		Ajinomoto Co, Inc		1,158
	7,605		Alfresa Holdings Corp		170
	8,750		All Nippon Airways Co Ltd		295
	7,532		Alps Electric Co Ltd		141
	12,544		Amada Co Ltd		136
	4,284	e	Aozora Bank Ltd		107
	13,651		Asahi Breweries Ltd		678

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	6,901		Asahi Glass Co Ltd	$	215
	7,700		Asahi Intecc Co Ltd		203
	232,625		Asahi Kasei Corp		2,308
	29,800	e	Ashikaga Holdings Co Ltd		74
	171,500		Astellas Pharma, Inc		2,453
	138,821		Bank of Kyoto Ltd		5,461
	440,000		Benefit One, Inc		8,353
	2,353		Benesse Holdings, Inc		61
	207		BLife Investment Corp		582
	21,530		Bridgestone Corp		838
	8,485		Brother Industries Ltd		155
	2,800		Calbee, Inc		87
	90,777		Canon, Inc		2,428
	7,633	e	Casio Computer Co Ltd		119
	35,381		Central Japan Railway Co		7,296
	1,400		Century Leasing System, Inc		65
	21,262	e	Chiba Bank Ltd		110
	93,106		Chubu Electric Power Co, Inc		1,351
	20,269		Chugai Pharmaceutical Co Ltd		1,584
	10,066	e	Chugoku Electric Power Co, Inc		130
	4,500		Coca-Cola West Japan Co Ltd		101
	42,400		Concordia Financial Group Ltd		163
	5,868		Credit Saison Co Ltd		79
	118,800	e	CyberAgent, Inc		4,579
	9,638		Dai Nippon Printing Co Ltd		250
	8,246		Daicel Chemical Industries Ltd		70
	3,900	e	Daifuku Co Ltd		203
	1,260,211		Dai-ichi Mutual Life Insurance Co		19,159
	336,394		Daiichi Sankyo Co Ltd		21,257
	65,277		Daikin Industries Ltd		8,609
	7,549	e	Daito Trust Construction Co Ltd		967
	47,856		Daiwa House Industry Co Ltd		1,556
	57,980	e	Daiwa Securities Group, Inc		259
	16,387		Denso Corp		724
	8,455		Dentsu, Inc		299
	1,000	e	Disco Corp		191
	16,732		Don Quijote Co Ltd		280
	162,397		East Japan Railway Co		15,529
	22,728		Eisai Co Ltd		1,161
	5,693		Electric Power Development Co		130
	169,500		en-japan, Inc		6,548
	9,476		FamilyMart Co Ltd		232
	17,585		Fanuc Ltd		3,324
	7,783	e	Fast Retailing Co Ltd		4,643
	4,564	e	Fuji Electric Holdings Co Ltd		141
	23,239		Fuji Heavy Industries Ltd		657
	13,586		Fujifilm Holdings Corp		598
	7,398		Fujitsu Ltd		595
	6,046		Fukuoka Financial Group, Inc		115
	167,200	e	GMO Payment Gateway, Inc		11,223
	9,900		Hakuhodo DY Holdings, Inc		144
	5,700		Hamamatsu Photonics KK		213
	8,693		Hankyu Hanshin Holdings, Inc		336

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	832		Hikari Tsushin, Inc	$	181
	9,482		Hino Motors Ltd		79
	1,273		Hirose Electric Co Ltd		157
	1,975		Hisamitsu Pharmaceutical Co, Inc		87
	13,685		Hitachi Chemical Co Ltd		449
	3,833	e	Hitachi Construction Machinery Co Ltd		93
	2,600		Hitachi High-Technologies Corp		151
	1,040,458		Hitachi Ltd		38,965
	25,785	e	Hitachi Metals Ltd		280
	138,196		Honda Motor Co Ltd		3,619
	2,012		Hoshizaki Electric Co Ltd		159
	35,027		Hoya Corp		2,869
	74,928		Hulic Co Ltd		769
	25,775		Idemitsu Kosan Co Ltd		731
	5,929	e	Iida Group Holdings Co Ltd		97
	4,769,500		Infomart Corp		74,663
	620,383		Inpex Holdings, Inc		5,717
	20,948		Invincible Investment Corp		12,936
	11,581		Isetan Mitsukoshi Holdings Ltd		93
	658,422	e	Ishikawajima-Harima Heavy Industries Co Ltd		14,423
	19,800		Isuzu Motors Ltd		219
	50,869	e	Itochu Corp		1,054
	3,800	e	Itochu Techno-Science Corp		101
	8,195		J Front Retailing Co Ltd		96
	4,224		Japan Airlines Co Ltd		125
	1,803	e	Japan Airport Terminal Co Ltd		79
	534,100		Japan Elevator Service Holdings Co Ltd		13,917
	16,346	e	Japan Post Bank Co Ltd		159
	59,440		Japan Post Holdings Co Ltd		549
	28		Japan Prime Realty Investment Corp		133
	49		Japan Real Estate Investment Corp		329
	994		Japan Retail Fund Investment Corp		2,102
	185,263		Japan Tobacco, Inc		4,059
	62,823		JFE Holdings, Inc		761
	8,178		JGC Corp		108
	24,458		JSR Corp		394
	7,503	e	JTEKT Corp		87
	388,488		JX Holdings, Inc		1,776
	16,186		Kajima Corp		213
	5,134		Kakaku.com, Inc		127
	332,000	e	Kamakura Shinsho Ltd		4,561
	3,985		Kamigumi Co Ltd		91
	6,325	e	Kaneka Corp		198
	159,935		Kansai Electric Power Co, Inc		1,791
	24,714	e	Kansai Paint Co Ltd		578
	62,285		Kao Corp		4,620
	5,251	e	Kawasaki Heavy Industries Ltd		117
	146,297		KDDI Corp		3,817
	3,800		Keihan Electric Railway Co Ltd		169
	8,360		Keihin Electric Express Railway Co Ltd		163
	3,823		Keio Corp		239
	5,013	e	Keisei Electric Railway Co Ltd		207
	28		Kenedix Realty Investment Corp		221

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	225,300		Kenedix, Inc	$	1,139
	6,338		Keyence Corp		3,945
	5,695	e	Kikkoman Corp		273
	6,649		Kintetsu Corp		347
	31,049		Kirin Brewery Co Ltd		661
	1,900		Kobayashi Pharmaceutical Co Ltd		145
	38,801		Kobe Steel Ltd		208
	3,800		Koito Manufacturing Co Ltd		187
	34,850		Komatsu Ltd		804
	3,486		Konami Corp		169
	16,220		Konica Minolta Holdings, Inc		114
	1,228	e	Kose Corp		209
	39,598		Kubota Corp		602
	42,274		Kuraray Co Ltd		522
	3,677		Kurita Water Industries Ltd		99
	12,100		Kyocera Corp		754
	38,845		Kyowa Hakko Kogyo Co Ltd		756
	32,777		Kyushu Electric Power Co, Inc		310
	6,100		Kyushu Railway Co		195
	1,880		Lawson, Inc		96
	2,300	*,e	LINE Corp		83
	8,400		Lion Corp		166
	9,964	e	LIXIL Group Corp		176
	106,676		M3, Inc		2,582
	8,088		Makita Corp		257
	60,665		Marubeni Corp		405
	6,909		Marui Co Ltd		146
	6,896		Maruichi Steel Tube Ltd		183
	21,415	e	Mazda Motor Corp		192
	2,700		McDonald’s Holdings Co Japan Ltd		131
	7,059		Mediceo Paltac Holdings Co Ltd		158
	13,108		MEIJI Holdings Co Ltd		959
	2,400	*	Mercari, Inc		60
	13,300		Minebea Co Ltd		212
	10,800		MISUMI Group, Inc		256
	171,762		Mitsubishi Chemical Holdings Corp		1,231
	115,822		Mitsubishi Corp		2,852
	68,914		Mitsubishi Electric Corp		919
	150,096		Mitsubishi Estate Co Ltd		2,902
	21,080	e	Mitsubishi Gas Chemical Co, Inc		284
	12,111		Mitsubishi Heavy Industries Ltd		476
	14,011	e	Mitsubishi Materials Corp		380
	24,108		Mitsubishi Motors Corp		105
	12,348,462		Mitsubishi UFJ Financial Group, Inc		62,889
	15,700		Mitsubishi UFJ Lease & Finance Co Ltd		91
	62,482		Mitsui & Co Ltd		1,026
	23,028		Mitsui Chemicals, Inc		519
	170,306		Mitsui Fudosan Co Ltd		4,238
	500		Mitsui Fudosan Logistics Park, Inc		2,083
	4,249		Mitsui OSK Lines Ltd		108
	17,942		Mitsui Sumitomo Insurance Group Holdings, Inc		583
	12,518		Mitsui Trust Holdings, Inc		453
	909,856		Mizuho Financial Group, Inc		1,398

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,419,200	e	MonotaRO Co Ltd	$	37,436
	117		Mori Hills REIT Investment Corp		186
	122,105		Murata Manufacturing Co Ltd		5,918
	3,839		Nabtesco Corp		120
	7,000		Nagoya Railroad Co Ltd		210
	7,506	e	Namco Bandai Holdings, Inc		468
	9,361		NEC Corp		396
	18,300	*	Nexon Co Ltd		222
	10,124		NGK Insulators Ltd		145
	5,448		NGK Spark Plug Co Ltd		105
	20,217		Nidec Corp		2,738
	12,081		Nikon Corp		152
	416,803		Nintendo Co Ltd		155,258
	50		Nippon Building Fund, Inc		384
	2,662		Nippon Electric Glass Co Ltd		60
	2,944		Nippon Express Co Ltd		151
	3,172		Nippon Meat Packers, Inc		128
	49,026		Nippon Paint Co Ltd		2,564
	1,863		Nippon ProLogis REIT, Inc		5,109
	1,425		NIPPON REIT Investment Corp		5,950
	97,001		Nippon Steel Corp		1,359
	243,092		Nippon Telegraph & Telephone Corp		11,630
	5,876		Nippon Yusen Kabushiki Kaisha		99
	15,439		Nissan Chemical Industries Ltd		646
	87,727		Nissan Motor Co Ltd		548
	7,831	e	Nisshin Seifun Group, Inc		145
	2,545		Nissin Food Products Co Ltd		184
	3,013		Nitori Co Ltd		442
	20,337		Nitto Denko Corp		985
	12,738		NKSJ Holdings, Inc		535
	125,380		Nomura Holdings, Inc		533
	4,574		Nomura Real Estate Holdings, Inc		99
	471		Nomura Real Estate Master Fund, Inc		851
	12,800		Nomura Research Institute Ltd		256
	12,635		NSK Ltd		107
	23,900		NTT Data Corp		310
	50,386		NTT DoCoMo, Inc		1,287
	24,696		Obayashi Corp		247
	2,500		Obic Co Ltd		286
	10,946	e	Odakyu Electric Railway Co Ltd		263
	105,594		OJI Paper Co Ltd		496
	3,708,372		Olympus Corp		50,241
	64,355	e	Omron Corp		3,546
	36,468		Ono Pharmaceutical Co Ltd		664
	1,503		Oracle Corp Japan		131
	72,631		Oriental Land Co Ltd		11,070
	834,328		ORIX Corp		12,481
	216		Orix JREIT, Inc		472
	14,120		Osaka Gas Co Ltd		271
	19,222		Osaka Securities Exchange Co Ltd		304
	4,022		Otsuka Corp		161
	32,500		Otsuka Holdings KK		1,221
	311,100		Paltac Corp		15,285

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	381,055		Panasonic Corp	$	3,105
	4,100		Park24 Co Ltd		95
	3,400	*,e	PeptiDream, Inc		163
	4,500		Pigeon Corp		186
	3,510		Pola Orbis Holdings, Inc		79
	32,500		Rakuten, Inc		322
	664,853		Recruit Holdings Co Ltd		20,314
	28,800	*	Renesas Electronics Corp		189
	79,142		Resona Holdings, Inc		341
	25,282	e	Ricoh Co Ltd		229
	1,212		Rinnai Corp		82
	220,635		Rohm Co Ltd		17,011
	9,040	e	Ryohin Keikaku Co Ltd		169
	1,980		Sankyo Co Ltd		68
	113,553		Santen Pharmaceutical Co Ltd		1,984
	8,891		SBI Holdings, Inc		191
	7,867		Secom Co Ltd		720
	5,952		Sega Sammy Holdings, Inc		84
	7,500		Seibu Holdings, Inc		131
	11,700	e	Seiko Epson Corp		166
	13,795		Sekisui Chemical Co Ltd		215
	79,820		Sekisui House Ltd		1,575
	214,300		Seria Co Ltd		5,215
	106,486		Seven & I Holdings Co Ltd		4,081
	19,000	e	Seven Bank Ltd		52
	5,300	e	SG Holdings Co Ltd		130
	7,899	e	Sharp Corp		88
	281,199	*	SHIFT, Inc		13,978
	8,347		Shimadzu Corp		212
	827		Shimamura Co Ltd		66
	2,792		Shimano, Inc		422
	21,562		Shimizu Corp		196
	108,300		Shin-Etsu Chemical Co Ltd		11,654
	360,877	e	Shinsei Bank Ltd		5,277
	23,390		Shionogi & Co Ltd		1,304
	40,793		Shiseido Co Ltd		3,274
	17,201		Shizuoka Bank Ltd		129
	4,900		Showa Denko KK		129
	6,563		SMC Corp		2,821
	525,000		SMS Co Ltd		12,886
	63,200	e	Softbank Corp		856
	153,732		Softbank Group Corp		6,066
	2,700		Sohgo Security Services Co Ltd		142
	3,144,140		Sony Corp		185,844
	214,328		Sony Financial Holdings, Inc		4,667
	4,914		Stanley Electric Co Ltd		131
	672	e	Star Asia Investment Corp		725
	7,600	e	Start Today Co Ltd		176
	1,159,835		Sumco Corp		15,800
	198,983		Sumitomo Chemical Co Ltd		898
	44,865		Sumitomo Corp		702
	5,763		Sumitomo Dainippon Pharma Co Ltd		95
	28,547		Sumitomo Electric Industries Ltd		364

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	198,225		Sumitomo Heavy Industries Ltd	$	5,907
	30,315		Sumitomo Metal Mining Co Ltd		947
	1,188,191		Sumitomo Mitsui Financial Group, Inc		40,829
	47,616		Sumitomo Realty & Development Co Ltd		1,818
	6,063		Sumitomo Rubber Industries, Inc		72
	2,400		Sundrug Co Ltd		76
	5,300		Suntory Beverage & Food Ltd		227
	2,807		Suzuken Co Ltd		151
	13,834		Suzuki Motor Corp		589
	48,771		Sysmex Corp		3,277
	19,895		T&D Holdings, Inc		213
	4,400		Taiheiyo Cement Corp		118
	7,693		Taisei Corp		299
	1,456	e	Taisho Pharmaceutical Holdings Co Ltd		106
	15,367	e	Taiyo Nippon Sanso Corp		312
	385,000	e	Taiyo Yuden Co Ltd		9,442
	92,911		Takeda Pharmaceutical Co Ltd		3,188
	63,400	e	Takeda Pharmaceutical Co Ltd (ADR)		1,090
	8,994		Tanabe Seiyaku Co Ltd		99
	5,056		TDK Corp		457
	222,600		TechnoPro Holdings, Inc		13,283
	23,486		Teijin Ltd		453
	6,602		Temp Holdings Co Ltd		125
	53,792		Terumo Corp		1,741
	4,294		THK Co Ltd		114
	7,134		Tobu Railway Co Ltd		232
	4,275		Toho Co Ltd		188
	2,600		Toho Gas Co Ltd		100
	15,913		Tohoku Electric Power Co, Inc		156
	206,964		Tokio Marine Holdings, Inc		11,103
	616,800	*	Tokyo Base Co Ltd		4,515
	193,725	*	Tokyo Electric Power Co, Inc		950
	5,916	e	Tokyo Electron Ltd		1,137
	86,432		Tokyo Gas Co Ltd		2,186
	32,900		Tokyo Tatemono Co Ltd		464
	18,829		Tokyu Corp		354
	831,200		Tokyu Fudosan Holdings Corp		5,320
	11,267		Toppan Printing Co Ltd		200
	178,845		Toray Industries, Inc		1,332
	19,555		Toshiba Corp		598
	35,120		Tosoh Corp		468
	5,342	e	Toto Ltd		201
	19,339		Toyo Seikan Kaisha Ltd		302
	3,299		Toyo Suisan Kaisha Ltd		132
	2,397		Toyoda Gosei Co Ltd		48
	5,593		Toyota Industries Corp		323
	1,685,153		Toyota Motor Corp		113,175
	8,094		Toyota Tsusho Corp		263
	4,928		Trend Micro, Inc		236
	1,400		Tsuruha Holdings, Inc		153
	15,307		Uni-Charm Corp		487
	303		United Urban Investment Corp		580
	8,830		USS Co Ltd		172

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,700		Welcia Holdings Co Ltd	$	86
	100,807		West Japan Railway Co		8,529
	103,738		Yahoo! Japan Corp		292
	4,504		Yakult Honsha Co Ltd		253
	24,631		Yamada Denki Co Ltd		119
	5,608		Yamaha Corp		253
	10,591		Yamaha Motor Co Ltd		193
	11,655		Yamato Transport Co Ltd		176
	4,653		Yamazaki Baking Co Ltd		83
	9,024		Yaskawa Electric Corp		335
	9,110	e	Yokogawa Electric Corp		167
	4,800		Yokohama Rubber Co Ltd		96
	519,500	e	Yume No Machi Souzou Iinkai Co Ltd		7,753
			TOTAL JAPAN		1,356,606
KAZAKHSTAN - 0.0%
	994,134		KAZ Minerals plc		5,302
			TOTAL KAZAKHSTAN		5,302
KOREA, REPUBLIC OF - 0.8%
	3,295		Amorepacific Corp		387
	1,083		Amorepacific Corp (Preference)		66
	825		BGF retail Co Ltd		136
	31,541		BS Financial Group, Inc		189
	58,700	*	Cafe24 Corp		3,136
	173	*	Celltrion, Inc		24
	7,720		Cheil Communications, Inc		160
	18,127		Cheil Industries, Inc		1,358
	913		CJ CheilJedang Corp		179
	1,943		CJ Corp		133
	1,181		CJ O Shopping Co Ltd		167
	2,934		Daelim Industrial Co		255
	20,093	*	Daewoo Engineering & Construction Co Ltd		81
	5,925		Daewoo International Corp		95
	38,888		Daewoo Securities Co Ltd		243
	4,136	*	Daewoo Shipbuilding & Marine Engineering Co Ltd		106
	5,485		Dongbu Insurance Co Ltd		236
	5,995		Doosan Bobcat, Inc		177
	2,495		E-Mart Co Ltd		235
	275,173		Fila Korea Ltd		13,313
	2,054		GLOVIS Co Ltd		268
	7,097		GS Engineering & Construction Corp		195
	6,910		GS Holdings Corp		290
	2,927		GS Retail Co Ltd		101
	62,801		Hana Financial Group, Inc		1,849
	8,486		Hankook Tire Co Ltd		228
	838		Hanmi Pharm Co Ltd		193
	1,981		Hanmi Science Co Ltd		65
	19,805		Hanon Systems		199
	12,285		Hanwha Chemical Corp		184
	5,670		Hanwha Corp		119
	2,903		HDC Hyundai Development Co-Engineering & Construction		80

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	3,842	*,e	HLB, Inc	$	194
	1,907		Honam Petrochemical Corp		376
	3,543		Hotel Shilla Co Ltd		255
	148,287		Hynix Semiconductor, Inc		10,184
	1,675		Hyundai Department Store Co Ltd		109
	8,065		Hyundai Engineering & Construction Co Ltd		311
	4,227	*	Hyundai Heavy Industries		438
	7,262		Hyundai Marine & Fire Insurance Co Ltd		160
	14,130		Hyundai Mobis		2,974
	31,776		Hyundai Motor Co		3,558
	4,012		Hyundai Motor Co Ltd (2nd Preference)		285
	2,707		Hyundai Motor Co Ltd (Preference)		173
	1,122		Hyundai Robotics Co Ltd		327
	9,568		Hyundai Steel Co		311
	27,786		Industrial Bank of Korea		306
	67,100	g	ING Life Insurance Korea Ltd		1,516
	5,407		Kakao Corp		612
	13,060		Kangwon Land, Inc		323
	83,615		KB Financial Group, Inc		2,984
	746		KCC Corp		136
	54,697		Kia Motors Corp		2,085
	8,158		Korea Aerospace Industries Ltd		267
	55,472	*	Korea Electric Power Corp		1,200
	1,018	*	Korea Express Co Ltd		123
	3,365		Korea Gas Corp		111
	4,068		Korea Investment Holdings Co Ltd		256
	2,042		Korea Kumho Petrochemical		122
	50,591		Korea Life Insurance Co Ltd		101
	936		Korea Zinc Co Ltd		350
	5,200		Korean Air Lines Co Ltd		99
	24,648		KT&G Corp		2,175
	12,120		LG Chem Ltd		3,031
	994		LG Chem Ltd (Preference)		139
	20,181		LG Corp		1,181
	22,739		LG Electronics, Inc		1,280
	1,989		LG Household & Health Care Ltd		2,171
	245		LG Household & Health Care Ltd (Preference)		158
	1,644		LG Innotek Co Ltd		157
	12,415		LG Telecom Ltd		141
	25,087	*	LG.Philips LCD Co Ltd		297
	3,382		Lotte Corp		102
	1,450		Lotte Shopping Co Ltd		156
	643		Medy-Tox, Inc		193
	34,319		Meritz Securities Co Ltd		145
	29,283		Naver Corp		3,841
	1,700		NCsoft		740
	2,991	*,g	Netmarble Corp		236
	2,352		OCI Co Ltd		137
	2,760		Orion Corp/Republic of Korea		227
	154		Ottogi Corp		75
	2,979		Pacific Corp		163
	720	*	Pearl Abyss Corp		119
	20,210		POSCO		3,831

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	2,647		POSCO Refractories & Environment Co Ltd	$	98
	1,743		S1 Corp (Korea)		143
	3,603	*,g	Samsung Biologics Co Ltd		925
	3,481		Samsung Card Co		102
	12,023		Samsung Electro-Mechanics Co Ltd		1,035
	1,429,919		Samsung Electronics Co Ltd		58,547
	177,241		Samsung Electronics Co Ltd (Preference)		5,851
	18,313	*	Samsung Engineering Co Ltd		257
	6,525		Samsung Fire & Marine Insurance Co Ltd		1,216
	48,133	*	Samsung Heavy Industries Co Ltd		317
	7,762		Samsung Life Insurance Co Ltd		461
	11,630		Samsung SDI Co Ltd		2,165
	7,510		Samsung SDS Co Ltd		1,195
	7,024		Samsung Securities Co Ltd		207
	91,987		Shinhan Financial Group Co Ltd		3,214
	809		Shinsegae Co Ltd		177
	7,845	*,e	SillaJen, Inc		53
	7,327		SK C&C Co Ltd		1,249
	13,562		SK Energy Co Ltd		1,878
	2,107		SK Telecom Co Ltd		425
	5,154		S-Oil Corp		427
	30,566	*	STX Pan Ocean Co Ltd		117
	2,164	*	ViroMed Co Ltd		120
	5,687		Woongjin Coway Co Ltd		403
	52,036	*	Woori Financial Group, Inc		541
	15,503		Woori Investment & Securities Co Ltd		164
	1,144		Yuhan Corp		218
			TOTAL KOREA, REPUBLIC OF		156,893
LUXEMBOURG - 0.0%
	24,877		ArcelorMittal		350
	447	e	Eurofins Scientific		208
	2,623		Millicom International Cellular S.A.		127
	15,981		Reinet Investments S.C.A		290
	1,721		RTL Group		83
	13,796		SES Global S.A.		251
	39,088		Tenaris S.A.		415
			TOTAL LUXEMBOURG		1,724
MACAU - 0.2%
	80,803		Galaxy Entertainment Group Ltd		501
	30,248,787	e	MGM China Holdings Ltd		47,098
	93,133		Sands China Ltd		421
	56,983	e	Wynn Macau Ltd		111
			TOTAL MACAU		48,131
MALAYSIA - 0.1%
	136,700		AirAsia BHD		58
	88,700		Alliance Financial Group BHD		60
	160,200		AMMB Holdings BHD		158
	14,800		British American Tobacco Malaysia BHD		67
	504,851		Bumiputra-Commerce Holdings BHD		607
	419,200		Dialog Group BHD		340

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	303,600		Digi.Com BHD	$	344
	16,800		Fraser & Neave Holdings BHD		140
	185,700		Gamuda BHD		164
	233,300		Genting BHD		320
	14,600		Genting Plantations BHD		35
	57,900		HAP Seng Consolidated BHD		136
	170,300		Hartalega Holdings BHD		214
	69,300		Hong Leong Bank BHD		271
	20,800		Hong Leong Credit BHD		81
	228,800		IHH Healthcare BHD		310
	297,400		IJM Corp BHD		156
	196,700		IOI Corp BHD		208
	40,500		Kuala Lumpur Kepong BHD		223
	401,507		Malayan Banking BHD		816
	102,200		Malaysia Airports Holdings BHD		211
	240,700		Maxis BHD		322
	115,900		MISC BHD		216
	6,800		Nestle Malaysia BHD		237
	260,100		Petronas Chemicals Group BHD		468
	28,100		Petronas Dagangan BHD		158
	65,800		Petronas Gas BHD		257
	53,080		PPB Group BHD		230
	139,100		Press Metal BHD		158
	323,600		Public Bank BHD		1,551
	64,600		QL Resources BHD		111
	331,300		Resorts World BHD		240
	165,900		RHB Capital BHD		224
	303,500		Sime Darby BHD		163
	227,000		Sime Darby Plantation BHD		256
	238,500		Sime Darby Property BHD		48
	153,958		SP Setia BHD		50
	117,900		Telekom Malaysia BHD		101
	326,300		Tenaga Nasional BHD		1,063
	290,825		TM International BHD		299
	159,200		Top Glove Corp BHD		169
	89,500		Westports Holdings BHD		88
	322,800		YTL Corp BHD		71
			TOTAL MALAYSIA		11,399
MEXICO - 0.2%
	644,300		Alfa S.A. de C.V. (Class A)		566
	64,400	*	Alsea SAB de C.V.		150
	3,478,700		America Movil S.A. de C.V. (Series L)		2,581
	194,405		Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		245
	1,490,594	e	Cemex S.A. de C.V.		581
	55,500		Coca-Cola Femsa SAB de C.V.		338
	20,500		El Puerto de Liverpool SAB de C.V.		112
	45,800		Embotelladoras Arca SAB de C.V.		248
	319,300		Fibra Uno Administracion S.A. de C.V.		467
	411,300		Fomento Economico Mexicano S.A. de C.V.		3,773
	18,028	e	Fresnillo plc		152
	22,470		Gruma SAB de C.V.		230

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	37,700		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)	$	363
	22,060		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		337
	162,500		Grupo Bimbo S.A. de C.V. (Series A)		296
	46,800		Grupo Carso S.A. de C.V. (Series A1)		137
	271,100		Grupo Financiero Banorte S.A. de C.V.		1,457
	8,208,527		Grupo Financiero Inbursa S.A.		10,440
	762,000		Grupo Mexico S.A. de C.V. (Series B)		1,782
	261,500		Grupo Televisa S.A.		512
	34,110		Industrias Penoles S.A. de C.V.		454
	57,900	*	Infraestructura Energetica ,NV SAB de C.V.		230
	159,300		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		320
	34,100		Megacable Holdings SAB de C.V.		137
	121,300		Orbia Advance Corp SAB de C.V.		237
	25,090		Promotora y Operadora de Infraestructura SAB de C.V.		225
	1,098,600		Wal-Mart de Mexico SAB de C.V.		3,256
			TOTAL MEXICO		29,626
NETHERLANDS - 2.0%
	188,367	g	ABN AMRO Group NV (ADR)		3,318
	28,763	*,g	Adyen NV		18,915
	67,060		Aegon NV		279
	18,372		Akzo Nobel NV		1,637
	798	*,e	Altice NV (Class A)		4
	266	*	Altice NV (Class B)		1
	347,763		ASML Holding NV		86,250
	6,815		DSM NV		820
	4,058		Eurocommercial Properties NV		113
	152,758	g	Euronext NV		12,508
	4,070		EXOR NV		273
	4,331		Heineken Holding NV		431
	46,470		Heineken NV		5,019
	8,590,526		ING Groep NV		89,743
	8,000	*,e	InterXion Holding NV		652
	217,993		Koninklijke Ahold Delhaize NV		5,452
	826,418		Koninklijke KPN NV		2,575
	234,449		Koninklijke Philips Electronics NV		10,834
	2,611		Koninklijke Vopak NV		134
	11,741		NN Group NV		416
	452,185		NXP Semiconductors NV		49,342
	87,493	*,e	Prosus NV		6,423
	4,487	e	Randstad Holdings NV		220
	3,244,044		Royal Dutch Shell plc (A Shares)		95,141
	322,774		Royal Dutch Shell plc (B Shares)		9,540
	3,479	e	Wereldhave NV		77
	24,211		Wolters Kluwer NV		1,767
			TOTAL NETHERLANDS		401,884
NEW ZEALAND - 0.0%
	26,913	*	a2 Milk Co Ltd		224
	37,081		Auckland International Airport Ltd		213
	21,993		Fisher & Paykel Healthcare Corp		239
	32,003		Fletcher Building Ltd		103
	95,139		Kiwi Property Group Ltd		99

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	52,035		Meridian Energy Ltd	$	169
	14,742		Ryman Healthcare Ltd		122
	69,429		Telecom Corp of New Zealand Ltd		192
			TOTAL NEW ZEALAND		1,361
NORWAY - 0.3%
	983,935		Aker BP ASA		26,217
	80,954		DNB NOR Holding ASA		1,427
	7,352		Gjensidige Forsikring BA		146
	110,964		Norsk Hydro ASA		391
	28,574		Orkla ASA		260
	16,526		PAN Fish ASA		382
	3,420		Schibsted ASA (B Shares)		96
	861,704		Statoil ASA		16,322
	62,438		Telenor ASA		1,253
	348,900		TGS Nopec Geophysical Co ASA		8,831
	6,672		Yara International ASA		288
			TOTAL NORWAY		55,613
PAKISTAN - 0.0%
	46,500		Habib Bank Ltd		35
	19,200		MCB Bank Ltd		21
	125,100		Oil & Gas Development Co Ltd		99
			TOTAL PAKISTAN		155
PERU - 0.0%
	23,700		Cia de Minas Buenaventura S.A. (ADR) (Series B)		360
	16,900		Credicorp Ltd (NY)		3,523
	9,361		Southern Copper Corp (NY)		319
			TOTAL PERU		4,202
PHILIPPINES - 0.1%
	211,300		Aboitiz Equity Ventures, Inc		216
	159,100		Aboitiz Power Corp		118
	420,700		Alliance Global Group, Inc		88
	57,450		Ayala Corp		981
	1,594,570		Ayala Land, Inc		1,522
	414,660		Banco de Oro Universal Bank		1,144
	95,440		Bank of the Philippine Islands		171
	412,600		DMCI Holdings, Inc		66
	3,480		Globe Telecom, Inc		123
	9,924		GT Capital Holdings, Inc		161
	108,220		International Container Term Services, Inc		252
	301,680		JG Summit Holdings (Series B)		422
	49,520		Jollibee Foods Corp		212
	24,010		Manila Electric Co		171
	21,817,927		Megaworld Corp		1,840
	1,614,900		Metro Pacific Investments Corp		155
	163,366		Metropolitan Bank & Trust		216
	9,895		PLDT, Inc		217
	4,228	*,†	Robinsons Land Corp		0	^
	219,600		Robinsons Land Corp		104
	5,471,450		Robinsons Retail Holdings, Inc		8,340

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	27,880		Security Bank Corp	$	106
	25,910		SM Investments Corp		486
	1,998,400		SM Prime Holdings		1,435
	93,270		Universal Robina		281
			TOTAL PHILIPPINES		18,827
POLAND - 0.0%
	8,836	*	Alior Bank S.A.		85
	54,656	*	Bank Millennium S.A.		78
	35,662		Bank Pekao S.A.		910
	3,619		Bank Zachodni WBK S.A.		283
	1,383	*	BRE Bank S.A.		120
	3,283		CCC S.A.		113
	7,159		CD Projekt Red S.A.		436
	21,423		Cyfrowy Polsat S.A.		141
	4,970	*,g	Dino Polska S.A.		195
	9,681		Grupa Lotos S.A.		214
	5,442		Jastrzebska Spolka Weglowa S.A.		30
	14,743	*	KGHM Polska Miedz S.A.		294
	134		LPP S.A.		288
	215,791		Polish Oil & Gas Co		253
	89,922	*	Polska Grupa Energetyczna S.A.		179
	85,569		Polski Koncern Naftowy Orlen S.A.		2,106
	188,996		Powszechna Kasa Oszczednosci Bank Polski S.A.		1,853
	124,303		Powszechny Zaklad Ubezpieczen S.A.		1,159
	56,663	*	Telekomunikacja Polska S.A.		78
			TOTAL POLAND		8,815
PORTUGAL - 0.1%
	201,817		Energias de Portugal S.A.		783
	36,434		Galp Energia SGPS S.A.		548
	811,801		Jeronimo Martins SGPS S.A.		13,690
			TOTAL PORTUGAL		15,021
QATAR - 0.0%
	191,590	*	Barwa Real Estate Co		176
	195,403	*	Commercial Bank of Qatar QSC		232
	189,478	*	Industries Qatar QSC		569
	366,769	*	Masraf Al Rayan		356
	464,505	*	Mesaieed Petrochemical Holding Co		380
	83,640	*	Ooredoo QSC		166
	58,470	*	Qatar Electricity & Water Co		248
	49,032	*	Qatar Fuel QSC		317
	173,130	*	Qatar Insurance Co SAQ		159
	113,732	*	Qatar Islamic Bank SAQ		487
	462,544	*	Qatar National Bank		2,454
			TOTAL QATAR		5,544
ROMANIA - 0.0%
	40,308		NEPI Rockcastle plc		353
			TOTAL ROMANIA		353

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
RUSSIA - 0.5%
	18,887		Evraz plc	$	109
	1,441,395		Gazprom (ADR)		9,946
	112,106		LUKOIL PJSC (ADR)		9,275
	39,036		Magnit PJSC (GDR)		510
	174,960		MMC Norilsk Nickel PJSC (ADR)		4,477
	56,400		Mobile TeleSystems (ADR)		457
	25,395		Novatek PJSC (GDR)		5,150
	14,742		Novolipetsk Steel PJSC (GDR)		320
	14,799		PhosAgro PJSC (GDR)		189
	24,293		Polymetal International plc (ADR)		341
	5,599		Polyus PJSC (GDR)		323
	358,520	*	Rosneft Oil Co PJSC (GDR)		2,300
	683,147	*	Sberbank of Russia (ADR)		9,661
	24,960		Severstal (GDR)		358
	429,758		Surgutneftegaz (ADR) (London)		2,299
	69,866		Tatneft PJSC (ADR)		4,461
	189,922		VTB Bank (GDR)		246
	12,705		X5 Retail Group NV (GDR)		445
	1,429,428	*	Yandex NV		50,044
			TOTAL RUSSIA		100,911
SAUDI ARABIA - 0.1%
	11,313		Advanced Petrochemical Co		146
	127,591		Al Rajhi Bank		2,155
	75,412		Alinma Bank		452
	25,789		Almarai Co JSC		342
	36,609		Bank AlBilad		258
	41,963		Bank Al-Jazira		151
	56,311		Banque Saudi Fransi		486
	2,711		Bupa Arabia for Cooperative Insurance Co		77
	6,319	*	Co for Cooperative Insurance		114
	57,686	*	Dar Al Arkan Real Estate Development Co		184
	39,262	*	Emaar Economic City		104
	40,133	*	Etihad Etisalat Co		258
	5,639		Jarir Marketing Co		237
	123,879		National Commercial Bank		1,522
	34,392	*	National Industrialization Co		122
	25,086	*	Rabigh Refining & Petrochemical Co		133
	122,028		Riyad Bank		793
	39,451		Sahara International Petrochemical Co		189
	102,595		Samba Financial Group		783
	3,464		Saudi Airlines Catering Co		81
	17,043		Saudi Arabian Fertilizer Co		365
	43,550	*	Saudi Arabian Mining Co		528
	78,853		Saudi Basic Industries Corp		1,935
	39,572		Saudi British Bank		321
	7,896		Saudi Cement Co		150
	85,134		Saudi Electricity Co		484
	24,689		Saudi Industrial Investment Group		152
	80,039	*	Saudi Kayan Petrochemical Co		218
	41,091		Saudi Telecom Co		1,191
	27,961	*	Savola Group		230

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	26,075		Yanbu National Petrochemical Co	$	372
			TOTAL SAUDI ARABIA		14,533
SINGAPORE - 0.1%
	296,045		Ascendas REIT		669
	23,300	e,g	BOC Aviation Ltd		215
	295,046		CapitaCommercial Trust		442
	303,846		CapitaLand Ltd		777
	98,617		CapitaMall Trust		188
	58,900		City Developments Ltd		419
	81,148		ComfortDelgro Corp Ltd		141
	365,730		DBS Group Holdings Ltd		6,616
	254,692		Genting Singapore Ltd		162
	273,865		Golden Agri-Resources Ltd		45
	3,766		Jardine Cycle & Carriage Ltd		82
	57,068	e	Keppel Corp Ltd		245
	523,753		Oversea-Chinese Banking Corp		4,117
	32,648		SembCorp Industries Ltd		49
	21,684		Singapore Airlines Ltd		143
	23,600		Singapore Airport Terminal Services Ltd		83
	309,443	e	Singapore Exchange Ltd		1,898
	58,825	e	Singapore Press Holdings Ltd		89
	58,807		Singapore Technologies Engineering Ltd		163
	1,200		Singapore Telecommunications Ltd		3
	1,016,891		Singapore Telecommunications Ltd		2,282
	279,300		Suntec Real Estate Investment Trust		384
	218,243		United Overseas Bank Ltd		4,056
	64,631		UOL Group Ltd		351
	10,100		Venture Corp Ltd		112
	69,662		Wilmar International Ltd		188
			TOTAL SINGAPORE		23,919
SOUTH AFRICA - 0.3%
	149,052		Absa Group Ltd		1,505
	4,903		Anglo American Platinum Ltd		296
	103,807		Anglo American plc (London)		2,386
	42,255		AngloGold Ashanti Ltd		781
	82,553		Aspen Pharmacare Holdings Ltd		469
	70,604	e	Bid Corp Ltd		1,500
	65,891	e	Bidvest Group Ltd		831
	4,771		Capitec Bank Holdings Ltd		406
	27,739		Clicks Group Ltd		394
	79,147		Discovery Holdings Ltd		597
	27,582	e	Exxaro Resources Ltd		238
	882,004	e	FirstRand Ltd		3,624
	131,324	e	Fortress REIT Ltd (Class A)		179
	25,669		Foschini Ltd		277
	84,671		Gold Fields Ltd		422
	782,093	e	Growthpoint Properties Ltd		1,194
	25,321		Investec Ltd		134
	26,124		Investec plc		134
	6,048	e	Kumba Iron Ore Ltd		149
	13,637		Liberty Holdings Ltd		101

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	154,646		Life Healthcare Group Holdings Pte Ltd	$	232
	82,825	e	Momentum Metropolitan Holdings		102
	26,567		Mr Price Group Ltd		278
	354,429	e	MTN Group Ltd		2,255
	116,429	*	MultiChoice Group Ltd		906
	114,429		Naspers Ltd (N Shares)		17,326
	61,460		Nedbank Group Ltd		921
	145,366		Network Healthcare Holdings Ltd		168
	37,794		Pick’n Pay Stores Ltd		149
	16,308		PSG Group Ltd		227
	79,498		Rand Merchant Investment Holdings Ltd		157
	627,164		Redefine Properties Ltd		324
	112,664		Remgro Ltd		1,214
	156,521	e	RMB Holdings Ltd		776
	340,820		Sanlam Ltd		1,679
	59,847		Sappi Ltd		148
	146,132	e	Sasol Ltd		2,458
	97,737		Shoprite Holdings Ltd		791
	167	*	Sibanye Gold Ltd		0	^
	19,807		Spar Group Ltd		250
	338,459		Standard Bank Group Ltd		3,905
	27,551		Telkom S.A. Ltd		128
	16,829		Tiger Brands Ltd		234
	46,775		Truworths International Ltd		164
	131,818		Vodacom Group Pty Ltd		1,043
	104,233	e	Woolworths Holdings Ltd		379
			TOTAL SOUTH AFRICA		51,831
SPAIN - 0.4%
	9,840		ACS Actividades Construccion y Servicios S.A.		393
	2,533	g	Aena S.A.		464
	254,132		Amadeus IT Holding S.A.		18,209
	549,041		Banco Bilbao Vizcaya Argentaria S.A.		2,858
	221,286		Banco de Sabadell S.A.		215
	68,033		Banco Santander S.A.		277
	2,107,432		Banco Santander S.A.		8,575
	44,360		Bankia S.A.		84
	24,615		Bankinter S.A.		155
	133,695		CaixaBank S.A.		351
	7,307	g	Cellnex Telecom SAU		302
	45,267		Corp Mapfre S.A.		122
	18,040		Enagas		417
	353,437		Endesa S.A.		9,297
	39,936		Ferrovial S.A.		1,154
	54,157		Gas Natural SDG S.A.		1,436
	11,205		Grifols S.A.		330
	782,553		Iberdrola S.A.		8,134
	212,920		Industria De Diseno Textil S.A.		6,589
	17,395		Inmobiliaria Colonial S.A.		210
	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.		405
	69,563		Red Electrica Corp S.A.		1,409

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	117,557		Repsol YPF S.A.	$	1,833
	309,546	e	Siemens Gamesa Renewable Energy		4,199
	798,526		Telefonica S.A.		6,102
			TOTAL SPAIN		73,589
SWEDEN - 0.4%
	12,177		Alfa Laval AB		240
	564,752		Assa Abloy AB		12,555
	56,194		Atlas Copco AB (A Shares)		1,730
	14,667		Atlas Copco AB (B Shares)		397
	1,373	e	Autoliv, Inc		108
	384,811		Boliden AB		8,838
	11,596		Castellum AB		248
	8,692		Electrolux AB (Series B)		206
	13,880		Epiroc AB		143
	25,217		Epiroc AB (Class A)		273
	255,378		Ericsson (LM) (B Shares)		2,040
	49,691		Essity AB		1,450
	27,832		Fabege AB		458
	25,512	*	Fastighets AB Balder		966
	73,870	e	Hennes & Mauritz AB (B Shares)		1,432
	369,098		Hexagon AB (B Shares)		17,779
	15,093		Husqvarna AB (B Shares)		115
	3,246		ICA Gruppen AB		150
	6,374		Industrivarden AB		139
	467,783		Intrum Justitia AB		11,752
	9,087		Investment AB Kinnevik (B Shares)		239
	37,978		Investor AB (B Shares)		1,855
	23,193		Kungsleden AB		211
	2,938		Lundbergs AB (B Shares)		110
	111,939	e	Lundin Petroleum AB		3,356
	91,296		Sandvik AB		1,421
	13,582	*,e	SAS AB		17
	11,700		Securitas AB (B Shares)		179
	539,489		Skandinaviska Enskilda Banken AB (Class A)		4,957
	12,490		Skanska AB (B Shares)		253
	15,149		SKF AB (B Shares)		250
	57,593		Svenska Handelsbanken AB		539
	34,070		Swedbank AB (A Shares)		491
	6,203		Swedish Match AB		257
	18,798	e	Tele2 AB (B Shares)		280
	102,982		TeliaSonera AB		461
	126,433		Volvo AB (B Shares)		1,774
			TOTAL SWEDEN		77,669
SWITZERLAND - 4.4%
	499,047		ABB Ltd		9,814
	5,961		Adecco S.A.		330
	1,382,912	*	Alcon, Inc		80,665
	1,799		Baloise Holding AG.		322
	86		Barry Callebaut AG.		177
	89,518		Cie Financiere Richemont S.A.		6,560
	7,665		Clariant AG.		149

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	7,500		Coca-Cola HBC AG.	$	245
	7,701,184		Credit Suisse Group		94,209
	1,633		Dufry Group		137
	690		EMS-Chemie Holding AG.		430
	3,131		Geberit AG.		1,496
	2,637		Givaudan S.A.		7,360
	901,024		Glencore Xstrata plc		2,715
	29,782		Holcim Ltd		1,467
	8,427		Julius Baer Group Ltd		373
	2,078		Kuehne & Nagel International AG.		306
	8,116		LafargeHolcim Ltd		399
	40		Lindt & Spruengli AG.		295
	19		Lindt & Spruengli AG. (Registered)		1,573
	319,651		Lonza Group AG.		108,173
	1,914,845		Nestle S.A.		207,673
	1,510,429		Novartis AG.		131,086
	1,496		Pargesa Holding S.A.		115
	702		Partners Group		539
	2,090		Phonak Holding AG.		486
	4,058		PSP Swiss Property AG.		515
	497,525		Roche Holding AG.		144,862
	3,623		Schindler Holding AG.		811
	755		Schindler Holding AG. (Registered)		169
	450		SGS S.A.		1,116
	10,986		Sika AG.		1,607
	567,860		STMicroelectronics NV		10,989
	387		Straumann Holding AG.		317
	2,746		Swatch Group AG.		729
	2,317		Swatch Group AG. (Registered)		117
	1,284		Swiss Life Holding		614
	10,198		Swiss Prime Site AG.		998
	27,596		Swiss Re Ltd		2,880
	976	e	Swisscom AG.		482
	2,447		Temenos Group AG.		410
	419,782		UBS AG.		4,766
	1,713		Vifor Pharma AG.		274
	94,114		Zurich Financial Services AG.		36,046
			TOTAL SWITZERLAND		864,796
TAIWAN - 1.5%
	301,000		Acer, Inc		173
	37,000		Advantech Co Ltd		325
	12,000		Airtac International Group		143
	365,000		ASE Industrial Holding Co Ltd		831
	236,000		Asia Cement Corp		329
	76,000		Asustek Computer, Inc		506
	1,023,000		AU Optronics Corp		258
	1,896,000		Catcher Technology Co Ltd		14,353
	795,000		Cathay Financial Holding Co Ltd		1,048
	1,551,834		Chailease Holding Co Ltd		6,267
	537,529		Chang Hwa Commercial Bank		375
	213,000		Cheng Shin Rubber Industry Co Ltd		314
	53,335		Chicony Electronics Co Ltd		157

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	204,000		China Airlines	$	60
	1,308,000		China Development Financial Holding Corp		390
	298,250	*	China Life Insurance Co Ltd (Taiwan)		236
	1,242,000		China Steel Corp		921
	1,923,000		Chinatrust Financial Holding Co		1,276
	813,000		Chunghwa Telecom Co Ltd		2,907
	411,000		Compal Electronics, Inc		237
	872,727		Dadi Early-Childhood Education Group Ltd		7,229
	202,000		Delta Electronics, Inc		863
	1,069,936		E.Sun Financial Holding Co Ltd		905
	21,000		Eclat Textile Co Ltd		282
	171,078		Eva Airways Corp		75
	232,373	*	Evergreen Marine Corp Tawain Ltd		97
	347,000		Far Eastern Textile Co Ltd		320
	161,000		Far EasTone Telecommunications Co Ltd		376
	35,200		Feng TAY Enterprise Co Ltd		252
	989,359		First Financial Holding Co Ltd		695
	694,000		Formosa Chemicals & Fibre Corp		1,940
	314,000		Formosa Petrochemical Corp		994
	1,140,000		Formosa Plastics Corp		3,473
	78,000		Formosa Taffeta Co Ltd		85
	89,000		Foxconn Technology Co Ltd		186
	1,418,000		Fubon Financial Holding Co Ltd		2,036
	1,057,000		Fuhwa Financial Holdings Co Ltd		631
	32,000		Giant Manufacturing Co Ltd		218
	20,000		Globalwafers Co Ltd		202
	84,000		Highwealth Construction Corp		135
	21,677		Hiwin Technologies Corp		189
	2,625,000		Hon Hai Precision Industry Co, Ltd		6,194
	1,535,678		Hota Industrial Manufacturing Co Ltd		5,666
	31,000		Hotai Motor Co Ltd		471
	763,636		Hua Nan Financial Holdings Co Ltd		515
	1,029,000		InnoLux Display Corp		219
	253,000		Inventec Co Ltd		175
	121,604		Largan Precision Co Ltd		17,394
	218,000		Lite-On Technology Corp		346
	1,833,000		MediaTek, Inc		21,809
	1,131,000		Mega Financial Holding Co Ltd		1,048
	74,000		Micro-Star International Co Ltd		215
	1,065,000		Nan Ya Plastics Corp		2,392
	130,000		Nanya Technology Corp		338
	16,000		Nien Made Enterprise Co Ltd		140
	60,000		Novatek Microelectronics Corp Ltd		344
	207,000		Pegatron Technology Corp		360
	16,000		Phison Electronics Corp		142
	215,000		Pou Chen Corp		276
	87,000		Powertech Technology, Inc		244
	60,000		President Chain Store Corp		561
	281,000		Quanta Computer, Inc		513
	49,000		Realtek Semiconductor Corp		363
	50,400		Ruentex Development Co Ltd		67
	34,600		Ruentex Industries Ltd		75
	320,000		Shanghai Commercial & Savings Bank Ltd		538

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,155,559		Shin Kong Financial Holding Co Ltd	$	350
	1,128,300		SinoPac Financial Holdings Co Ltd		440
	38,000		Standard Foods Corp		76
	141,000		Synnex Technology International Corp		165
	26,000	*	TaiMed Biologics, Inc		125
	1,006,730		Taishin Financial Holdings Co Ltd		449
	386,064		Taiwan Business Bank		159
	518,789		Taiwan Cement Corp		663
	892,442		Taiwan Cooperative Financial Holding		589
	203,000		Taiwan High Speed Rail Corp		231
	168,000		Taiwan Mobile Co Ltd		607
	19,899,500		Taiwan Semiconductor Manufacturing Co Ltd		176,738
	203,000	*	Tatung Co Ltd		111
	502,000		Uni-President Enterprises Corp		1,211
	2,497,000		United Microelectronics Corp		1,071
	92,000		Vanguard International Semiconductor Corp		185
	30,000		Walsin Technology Corp		169
	33,000		Win Semiconductors Corp		295
	302,000		Winbond Electronics Corp		174
	285,690		Wistron Corp		231
	137,640		WPG Holdings Co Ltd		169
	27,339	*	Yageo Corp		217
	56,000		Zhen Ding Technology Holding Ltd		200
			TOTAL TAIWAN		297,319
THAILAND - 0.1%
	116,000		Advanced Info Service PCL (Foreign)		835
	440,200		Airports of Thailand PCL (Foreign)		1,076
	50,300		Bangkok Bank PCL (Foreign)		289
	963,000		Bangkok Dusit Medical Services PCL (Foreign)		762
	777,700		Bangkok Expressway & Metro PCL		275
	535,000		Banpu PCL (Foreign)		206
	118,600		Berli Jucker PCL		205
	579,290		BTS Group Holdings PCL		254
	48,800		Bumrungrad Hospital PCL (Foreign)		204
	235,700		Central Pattana PCL (Foreign)		524
	373,900		Charoen Pokphand Foods PCL		321
	593,300		CP Seven Eleven PCL (Foreign)		1,565
	27,500		Electricity Generating PCL		323
	183,100		Energy Absolute PCL (Foreign)		287
	52,100		Gulf Energy Development PCL		272
	545,600		Home Product Center PCL (Foreign)		304
	176,300		Indorama Ventures PCL (Foreign)		187
	224,500		Intouch Holdings PCL (Class F)		481
	1,446,800		IRPC PCL (Foreign)		174
	205,400		Kasikornbank PCL (Foreign)		1,057
	350,500		Krung Thai Bank PCL (Foreign)		197
	906,900		Land and Houses PCL Co Reg		287
	281,400		Minor International PCL (Foreign)		345
	60,000		Muangthai Capital PCL		112
	167,000		PTT Exploration & Production PCL (Foreign)		661
	262,300		PTT Global Chemical PCL (Foreign)		461
	1,814,200		PTT PCL (Foreign)		2,824

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	66,200		Ratch Group PCL	$	155
	48,300		Robinson PCL		101
	80,400		Siam Cement PCL (Foreign)		1,072
	90,500		Siam Commercial Bank PCL (Foreign)		349
	142,400		Thai Oil PCL (Foreign)		325
	327,000		Thai Union Group PCL		179
	930,400		TMB Bank PCL (Foreign)		48
	75,300		Total Access Communication PCL (Foreign)		142
	1,215,700		True Corp PCL (Foreign)		209
			TOTAL THAILAND		17,068
TURKEY - 0.1%
	590,960	*	Akbank TAS		848
	19,492		Anadolu Efes Biracilik Ve Malt Sanayii AS		76
	22,322	*	Arcelik AS		75
	39,393		Aselsan Elektronik Sanayi Ve Ticaret AS		140
	45,530		BIM Birlesik Magazalar AS		396
	159,727		Eregli Demir ve Celik Fabrikalari TAS		193
	6,702		Ford Otomotiv Sanayi AS		71
	78,401		Haci Omer Sabanci Holding AS		133
	162,333		KOC Holding AS		543
	19,701		TAV Havalimanlari Holding AS		82
	13,985		Tupras Turkiye Petrol Rafine		355
	56,852	*	Turk Hava Yollari		124
	70,080		Turk Sise ve Cam Fabrikalari AS		58
	243,396		Turkcell Iletisim Hizmet AS		560
	4,362,090	*	Turkiye Garanti Bankasi AS		7,876
	142,173	*	Turkiye Is Bankasi (Series C)		158
			TOTAL TURKEY		11,688
UNITED ARAB EMIRATES - 0.1%
	287,498		Abu Dhabi Commercial Bank PJSC		616
	412,161	*	Aldar Properties PJSC		235
	36,008		DP World Ltd		503
	166,028	*	Dubai Islamic Bank PJSC		237
	87,408	*	Emaar Development PJSC		98
	299,091	*	Emaar Malls Group PJSC		153
	900,222		Emaar Properties PJSC		1,132
	366,909		Emirates Telecommunications Group Co PJSC		1,648
	278,696	*	National Bank of Abu Dhabi PJSC		1,143
	611,700	*,g	Network International Holdings plc		4,024
	3,786	e	NMC Health plc		126
			TOTAL UNITED ARAB EMIRATES		9,915
UNITED KINGDOM - 5.5%
	36,562		3i Group plc		523
	7,065		Admiral Group plc		184
	513,571		Aptiv plc		44,896
	1,460,757		Ashtead Group plc		40,623
	345,799		Associated British Foods plc		9,789
	1,075,822		AstraZeneca plc		96,059
	34,945	g	Auto Trader Group plc		219
	330,568		Aviva plc		1,623

235

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	265,620		BAE Systems plc	$	1,860
	1,406,248		Barclays plc		2,591
	38,756		Barratt Developments plc		309
	1,028,700		Beazley plc		7,862
	4,459		Berkeley Group Holdings plc		229
	51,000		Big Yellow Group plc		652
	6,061,800	*	boohoo.com plc		19,750
	5,197,200		BP plc		32,902
	267,722		BP plc (ADR)		10,171
	2,617,009		British American Tobacco plc		96,647
	19,200	e	British American Tobacco plc (ADR)		708
	556,095		British Land Co plc		4,000
	681,303		BT Group plc		1,494
	12,677		Bunzl plc		331
	35,864		Burberry Group plc		958
	23,193		Capital & Counties Properties		67
	481,390		Centrica plc		437
	2,465,375		CNH Industrial NV		25,105
	8,839		Coca-Cola European Partners plc (Class A)		490
	259,070		Compass Group plc		6,667
	4,835		Croda International plc		289
	3,695		DCC plc		322
	404,000		Dechra Pharmaceuticals plc		13,752
	15,690		Derwent London plc		651
	2,360,957		Diageo plc		96,446
	50,710		Direct Line Insurance Group plc		187
	5,449		easyJet plc		77
	2,832,457		Electrocomponents plc		22,393
	79,329		Experian Group Ltd		2,537
	621,389		Fevertree Drinks plc		18,484
	81,039		Fiat DaimlerChrysler Automobiles NV		1,050
	708,415		GlaxoSmithKline plc		15,185
	118,000		Great Portland Estates plc		1,088
	56,821		Group 4 Securicor plc		132
	22,636		GVC Holdings plc		207
	14,263		Halma plc		345
	10,724		Hargreaves Lansdown plc		274
	1,648,908		HSBC Holdings plc		12,634
	79,975		Imperial Tobacco Group plc		1,796
	47,096		Informa plc		493
	14,683		InterContinental Hotels Group plc		916
	13,264		Intertek Group plc		893
	2,753	e	Intu Properties plc		1
	136,316		ITV plc		211
	70,476		J Sainsbury plc		190
	22,968		John Wood Group plc		107
	7,293		Johnson Matthey plc		274
	1,224,814	*	Just Eat plc		10,061
	81,231		Kingfisher plc		206
	136,452		Land Securities Group plc		1,437
	496,197		Legal & General Group plc		1,515
	150,526	*,e	Liberty Global plc (Class A)		3,726
	6,141	*	Liberty Global plc (Class C)		146

236

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	933,133		Linde plc (Xetra)	$	181,114
	71,592,853		Lloyds TSB Group plc		47,460
	115,479		London Stock Exchange Group plc		10,370
	2,859,991		Man Group plc		6,140
	75,638		Marks & Spencer Group plc		171
	29,255		Meggitt plc		228
	182,831		Melrose Industries plc		453
	25,749	g	Merlin Entertainments plc		143
	12,957		Micro Focus International plc		182
	9,789	e	Micro Focus International plc (ADR)		139
	39,807		Mondi plc		762
	285,747		National Grid plc		3,094
	26,519		Next plc		2,016
	17,364	*	Ocado Ltd		282
	505,280	e	Old Mutual Ltd		645
	30,102	e	Pearson plc		273
	25,746		Persimmon plc		687
	1,229,470		Prudential plc		22,279
	91,874		Reckitt Benckiser Group plc		7,173
	652,336		RELX plc (London)		15,493
	69,570		Rentokil Initial plc		400
	153,515		Rolls-Royce Group plc		1,492
	181,870		Royal Bank of Scotland Group plc		464
	38,620		RSA Insurance Group plc		253
	63,000		Safestore Holdings plc		518
	40,844		Sage Group plc		347
	4,798		Schroders plc		181
	85,539		Scottish & Southern Energy plc		1,309
	174,453		Segro plc		1,739
	8,829		Severn Trent plc		235
	17,395	e	Shaftesbury plc		194
	62,874		Smith & Nephew plc		1,514
	14,901		Smiths Group plc		288
	2,771		Spirax-Sarco Engineering plc		267
	20,747		St. James’s Place plc		250
	685,914		Standard Chartered plc		5,758
	91,621		Standard Life Aberdeen plc		322
	21,291		Tate & Lyle plc		193
	117,967		Taylor Wimpey plc		234
	6,361		TechnipFMC plc (Euro OTC)		154
	26,066,974		Tesco plc		77,066
	4,722,100		Tritax Big Box REIT plc		8,685
	585,027		Unilever NV		35,129
	282,569		Unilever plc		16,983
	25,506		United Utilities Group plc		259
	1,591,900		Vesuvius plc		8,914
	6,521,663		Vodafone Group plc		12,993
	9,440		Weir Group plc		165
	84,279		Whitbread plc		4,448
	94,727		WM Morrison Supermarkets plc		233
	535,150		WPP plc		6,701
			TOTAL UNITED KINGDOM		1,101,963

237

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
UNITED STATES - 55.0%
	54,813		3M Co	$	9,011
	2,110		A.O. Smith Corp		101
	1,583,321		Abbott Laboratories		132,476
	411,057		AbbVie, Inc		31,125
	674	*	Abiomed, Inc		120
	100,000	*	Acacia Communications, Inc		6,540
	59,427		Accenture plc		11,431
	381,332		Activision Blizzard, Inc		20,180
	595		Acuity Brands, Inc		80
	28,921	*	Adobe, Inc		7,989
	1,070		Advance Auto Parts, Inc		177
	440,019	*	Advanced Micro Devices, Inc		12,756
	9,889		AES Corp		162
	828		Affiliated Managers Group, Inc		69
	53,253		Aflac, Inc		2,786
	76,850		Agilent Technologies, Inc		5,889
	8,024		AGNC Investment Corp		129
	12,000		Agree Realty Corp		878
	152,097		Air Products & Chemicals, Inc		33,744
	2,442	*	Akamai Technologies, Inc		223
	12,909	e	Albemarle Corp		897
	21,682		Alexandria Real Estate Equities, Inc		3,340
	50,470	*	Alexion Pharmaceuticals, Inc		4,943
	1,134	*	Align Technology, Inc		205
	1,911	*	Alkermes plc		37
	7,653	*	Alleghany Corp		6,105
	1,399		Allegion plc		145
	116,462		Allergan plc		19,599
	723		Alliance Data Systems Corp		93
	219,078		Alliant Energy Corp		11,815
	24,932		Allstate Corp		2,710
	5,914		Ally Financial, Inc		196
	1,626	*	Alnylam Pharmaceuticals, Inc		131
	87,383	*	Alphabet, Inc (Class A)		106,707
	111,024	*	Alphabet, Inc (Class C)		135,338
	120,093	*	Altice USA, Inc		3,444
	250,371		Altria Group, Inc		10,240
	193,113	*	Amazon.com, Inc		335,227
	24,219	*	Amcor plc		236
	121		Amerco, Inc		47
	3,662		Ameren Corp		293
	1,308		American Airlines Group, Inc		35
	29,930		American Electric Power Co, Inc		2,804
	617,943		American Express Co		73,090
	1,137		American Financial Group, Inc		123
	45,000		American Homes 4 Rent		1,165
	1,069,265		American International Group, Inc		59,558
	53,009		American Tower Corp		11,722
	2,690		American Water Works Co, Inc		334
	70,000	e	Americold Realty Trust		2,595
	1,994		Ameriprise Financial, Inc		293
	2,348		AmerisourceBergen Corp		193

238

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	3,389		Ametek, Inc	$	311
	302,335		Amgen, Inc		58,505
	172,680		Amphenol Corp (Class A)		16,664
	22,446		Analog Devices, Inc		2,508
	21,739		Annaly Capital Management, Inc		191
	1,249	*	Ansys, Inc		276
	30,528		Anthem, Inc		7,330
	16,514		Aon plc		3,197
	5,634	e	Apache Corp		144
	563,678		Apollo Global Management, Inc		21,318
	2,824,163	n	Apple, Inc		632,528
	169,829		Applied Materials, Inc		8,474
	227,861		ARAMARK Holdings Corp		9,930
	6,007	*	Arch Capital Group Ltd		252
	8,336		Archer Daniels Midland Co		342
	5,932		Arconic, Inc		154
	800	*	Arista Networks, Inc		191
	1,255	*	Arrow Electronics, Inc		94
	2,755		Arthur J. Gallagher & Co		247
	85,734		Ashland Global Holdings, Inc		6,606
	61,629		Associated Banc-Corp		1,248
	859		Assurant, Inc		108
	1,075,725		AT&T, Inc		40,705
	174,382	*	Athene Holding Ltd		7,334
	1,739		Atmos Energy Corp		198
	3,278	*	Autodesk, Inc		484
	28,899		Automatic Data Processing, Inc		4,665
	367	*	AutoZone, Inc		398
	16,071		AvalonBay Communities, Inc		3,461
	1,258		Avery Dennison Corp		143
	406,704		AXA Equitable Holdings, Inc		9,013
	339,167	*	Axalta Coating Systems Ltd		10,226
	38,320		Axis Capital Holdings Ltd		2,557
	124,870		Baker Hughes a GE Co		2,897
	4,735		Ball Corp		345
	5,289,657		Bank of America Corp		154,299
	65,447		Bank of New York Mellon Corp		2,959
	28,681	*	Bausch Health Cos, Inc		626
	495,620		Baxter International, Inc		43,352
	11,399		BB&T Corp		608
	36,600		Becton Dickinson & Co		9,258
	269,408	*	Berkshire Hathaway, Inc (Class B)		56,042
	594,270	*	Berry Global Group, Inc		23,337
	3,595		Best Buy Co, Inc		248
	13,972	*	Biogen Idec, Inc		3,253
	2,669	*	BioMarin Pharmaceutical, Inc		180
	7,721		BlackRock, Inc		3,441
	200,945		Blackstone Group, Inc		9,814
	736,524		Boeing Co		280,225
	5,055	*	Booking Holdings, Inc		9,921
	3,111		BorgWarner, Inc		114
	29,300		Boston Properties, Inc		3,799
	1,453,735	*	Boston Scientific Corp		59,152

239

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	1,427	*	Brighthouse Financial, Inc	$	58
	759,456		Bristol-Myers Squibb Co		38,512
	253,672		Broadcom, Inc		70,031
	1,728		Broadridge Financial Solutions, Inc		215
	4,584		Brown-Forman Corp (Class B)		288
	131,661		Bunge Ltd		7,455
	386,149	e	Burford Capital Ltd		3,899
	991	*	Burlington Stores, Inc		198
	6,319		Cabot Oil & Gas Corp		111
	4,183	*	Cadence Design Systems, Inc		276
	1,441		Camden Property Trust		160
	2,472		Campbell Soup Co		116
	78,588		Capital One Financial Corp		7,150
	949,600	*	Capri Holdings Ltd		31,489
	4,443		Cardinal Health, Inc		210
	2,478	*	CarMax, Inc		218
	6,296		Carnival Corp		275
	14,494		Carnival plc		600
	710,642		Caterpillar, Inc		89,761
	1,671		CBOE Global Markets, Inc		192
	4,752	*	CBRE Group, Inc		252
	197,384		CBS Corp (Class B)		7,968
	1,815		CDK Global, Inc		87
	118,711		CDW Corp		14,630
	1,885		Celanese Corp (Series A)		231
	97,443	*	Celgene Corp		9,676
	6,165	*	Centene Corp		267
	53,495		Centerpoint Energy, Inc		1,614
	14,692		CenturyLink, Inc		183
	66,845		Cerner Corp		4,557
	66,438		CF Industries Holdings, Inc		3,269
	2,039		CH Robinson Worldwide, Inc		173
	71,913		Charles Schwab Corp		3,008
	25,912	*	Charter Communications, Inc		10,679
	140,657	*	Cheniere Energy, Inc		8,870
	1,591,714		Chevron Corp		188,777
	392	*	Chipotle Mexican Grill, Inc (Class A)		329
	195,327		Chubb Ltd		31,534
	3,665		Church & Dwight Co, Inc		276
	51,244		Cigna Corp		7,778
	1,430	e	Cimarex Energy Co		69
	44,071	*,e	Cimpress NV		5,810
	2,305		Cincinnati Financial Corp		269
	1,322		Cintas Corp		354
	3,928,575		Cisco Systems, Inc		194,111
	1,551		CIT Group, Inc		70
	1,268,458		Citigroup, Inc		87,625
	391,187		Citizens Financial Group, Inc		13,836
	1,957		Citrix Systems, Inc		189
	1,896		Clorox Co		288
	68,153		CME Group, Inc		14,403
	4,235		CMS Energy Corp		271
	4,346,207		Coca-Cola Co		236,608

240

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	2,705		Cognex Corp	$	133
	36,679		Cognizant Technology Solutions Corp (Class A)		2,210
	260,000	*	Coherus Biosciences, Inc		5,268
	129,714		Colgate-Palmolive Co		9,535
	1,611,845		Comcast Corp (Class A)		72,662
	2,307		Comerica, Inc		152
	1,177,377		ConAgra Brands, Inc		36,122
	757,928		Concho Resources, Inc		51,463
	73,537		ConocoPhillips		4,190
	4,871		Consolidated Edison, Inc		460
	16,387		Constellation Brands, Inc (Class A)		3,397
	1,392	*	Continental Resources, Inc		43
	5,375		Cooper Cos, Inc		1,596
	3,069	*	Copart, Inc		247
	71,807		Corning, Inc		2,048
	3,084,900		Corteva, Inc		86,377
	544	*	CoStar Group, Inc		323
	616,519		Costco Wholesale Corp		177,625
	8,853	e	Coty, Inc		93
	102,084	*	Cree, Inc		5,002
	121,524		Crown Castle International Corp		16,893
	1,295,495	*	Crown Holdings, Inc		85,580
	1,185,609		CSX Corp		82,127
	2,229		Cummins, Inc		363
	258,960		CVS Health Corp		16,333
	1,344	*,e	CyberArk Software Ltd		134
	320,000		Cypress Semiconductor Corp		7,469
	16,000		CyrusOne, Inc		1,266
	209,227		Danaher Corp		30,219
	1,834		Darden Restaurants, Inc		217
	7,142	*,e	Datadog, Inc		242
	1,548	*	DaVita, Inc		88
	108,163		Deere & Co		18,245
	216,851	e	Delek US Holdings, Inc		7,872
	2,331	*	Dell Technologies, Inc		121
	2,470		Delta Air Lines, Inc		142
	3,492		Dentsply Sirona, Inc		186
	6,188		Devon Energy Corp		149
	21,363	*,e	DexCom, Inc		3,188
	447,539		Diamondback Energy, Inc		40,238
	11,104		Digital Realty Trust, Inc		1,441
	4,822		Discover Financial Services		391
	2,211	*,e	Discovery, Inc (Class A)		59
	5,235	*	Discovery, Inc (Class C)		129
	21,027	*	DISH Network Corp (Class A)		716
	1,507	*	DocuSign, Inc		93
	33,036		Dollar General Corp		5,251
	3,539	*	Dollar Tree, Inc		404
	170,167		Dominion Resources, Inc		13,790
	580		Domino’s Pizza, Inc		142
	2,161		Dover Corp		215
	539,420		Dow, Inc		25,703
	625,974		DR Horton, Inc		32,995

241

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	2,446	*	Dropbox, Inc	$	49
	2,727		DTE Energy Co		363
	108,983		Duke Energy Corp		10,447
	25,360		Duke Realty Corp		861
	515,586		DuPont de Nemours, Inc		36,766
	4,392		DXC Technology Co		130
	25,733		E*TRADE Financial Corp		1,124
	2,488		East West Bancorp, Inc		110
	2,079		Eastman Chemical Co		153
	133,930		Eaton Corp		11,136
	1,874		Eaton Vance Corp		84
	201,897		eBay, Inc		7,870
	17,715		Ecolab, Inc		3,508
	32,273		Edison International		2,434
	499,578	*	Edwards Lifesciences Corp		109,862
	33,410	*	Elanco Animal Health, Inc		888
	819,742	*	Electronic Arts, Inc		80,187
	297,225		Eli Lilly & Co		33,239
	41,626		Emerson Electric Co		2,783
	79,364		Entergy Corp		9,314
	739,237		EOG Resources, Inc		54,866
	813	*	EPAM Systems, Inc		148
	1,800		Equifax, Inc		253
	2,752		Equinix, Inc		1,587
	21,271		Equity Lifestyle Properties, Inc		2,842
	37,503		Equity Residential		3,235
	334		Erie Indemnity Co (Class A)		62
	8,977		Essex Property Trust, Inc		2,932
	39,764		Estee Lauder Cos (Class A)		7,911
	30,606		Everest Re Group Ltd		8,144
	3,642		Evergy, Inc		242
	4,726		Eversource Energy		404
	11,933	*	Exact Sciences Corp		1,078
	138,489		Exelon Corp		6,690
	110,700		Expedia, Inc		14,879
	2,554		Expeditors International of Washington, Inc		190
	12,898		Extra Space Storage, Inc		1,507
	1,428,561	d	Exxon Mobil Corp		100,871
	892	*	F5 Networks, Inc		125
	927,928	*	Facebook, Inc		165,245
	570		Factset Research Systems, Inc		138
	8,530		Fastenal Co		279
	15,114		Federal Realty Investment Trust		2,058
	176,124		FedEx Corp		25,638
	20,320		Ferguson plc		1,483
	525,097		Fidelity National Information Services, Inc		69,712
	154,106		Fifth Third Bancorp		4,219
	2,498		First Republic Bank		242
	112,500	*	First Solar, Inc		6,526
	1,274,354		FirstEnergy Corp		61,462
	131,425	*	Fiserv, Inc		13,614
	1,283	*	FleetCor Technologies, Inc		368
	7,915	*	Flextronics International Ltd		83

242

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	2,016		Flir Systems, Inc	$	106
	2,108		Flowserve Corp		98
	2,375		Fluor Corp		45
	1,964		FMC Corp		172
	4,099		FNF Group		182
	58,355		Ford Motor Co		535
	2,163	*	Fortinet, Inc		166
	237,379		Fortive Corp		16,275
	2,093		Fortune Brands Home & Security, Inc		114
	27,183		Fox Corp (Class A)		857
	2,692		Fox Corp (Class B)		85
	4,405	e	Franklin Resources, Inc		127
	812,622		Freeport-McMoRan Copper & Gold, Inc (Class B)		7,777
	655,725		Gaming and Leisure Properties, Inc		25,075
	3,154	e	Gap, Inc		55
	1,977		Garmin Ltd		167
	1,344	*	Gartner, Inc		192
	16,870		General Dynamics Corp		3,083
	3,894,517		General Electric Co		34,817
	36,811		General Mills, Inc		2,029
	69,850,000	*,†	General Motors Co		0
	61,921,000	*,†,e	General Motors Co		0
	530,757	*,†	General Motors Co		0
	4,461,000	*,†	General Motors Co		0
	77,862		General Motors Co		2,918
	18,106,794	*,†,e	General Motors Co		0
	26,439,985	*,†	General Motors Co		0
	18,159,000	*,†	General Motors Co		0
	19,417,463	*,†	General Motors Co		0
	13,592,224	*,†	General Motors Co		0
	29,845,445	*,†	General Motors Co		0
	2,178		Genuine Parts Co		217
	753,392		Gilead Sciences, Inc		47,750
	4,357		Global Payments, Inc		693
	1,554		Globe Life, Inc		149
	2,619	*	GoDaddy, Inc		173
	38,220		Goldman Sachs Group, Inc		7,920
	47,231	*,e	GrubHub, Inc		2,655
	3,036		H&R Block, Inc		72
	98,558		Halliburton Co		1,858
	5,684		Hanesbrands, Inc		87
	2,541		Harley-Davidson, Inc		91
	251,419		Hartford Financial Services Group, Inc		15,238
	1,783		Hasbro, Inc		212
	32,453		HCA Healthcare, Inc		3,908
	67,120		HCP, Inc		2,391
	2,668	*	HD Supply Holdings, Inc		105
	20,000		Healthcare Trust of America, Inc		588
	584	e	HEICO Corp		73
	1,135		HEICO Corp (Class A)		110
	1,524		Helmerich & Payne, Inc		61
	2,187	*	Henry Schein, Inc		139
	2,203		Hershey Co		341

243

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	4,070		Hess Corp	$	246
	19,910		Hewlett Packard Enterprise Co		302
	4,124		Hilton Worldwide Holdings, Inc		384
	2,373		HollyFrontier Corp		127
	207,766	*	Hologic, Inc		10,490
	865,660		Home Depot, Inc		200,850
	681,623		Honeywell International, Inc		115,331
	4,394		Hormel Foods Corp		192
	111,042		Host Marriott Corp		1,920
	109,574		HP, Inc		2,073
	40,000		Hudson Pacific Properties		1,338
	32,585		Humana, Inc		8,331
	342,842		Huntington Bancshares, Inc		4,892
	620		Huntington Ingalls		131
	26,856	*	IAC/InterActiveCorp		5,854
	1,127		IDEX Corp		185
	21,281	*	IDEXX Laboratories, Inc		5,787
	5,649	*	IHS Markit Ltd		378
	50,504		Illinois Tool Works, Inc		7,903
	50,965	*	Illumina, Inc		15,505
	2,716	*	Incyte Corp		202
	279,113		Ingersoll-Rand plc		34,390
	1,030		Ingredion, Inc		84
	440,539		Intel Corp		22,701
	59,815		IntercontinentalExchange Group, Inc		5,519
	57,445		International Business Machines Corp		8,354
	1,412	e	International Flavors & Fragrances, Inc		173
	106		International Flavors & Fragrances, Inc (Tel Aviv)		13
	19,173		International Paper Co		802
	148,898		Interpublic Group of Cos, Inc		3,210
	42,812		Intuit, Inc		11,385
	14,985	*	Intuitive Surgical, Inc		8,091
	7,131		Invesco Ltd		121
	76,975		Invitation Homes, Inc		2,279
	1,882	*	Ionis Pharmaceuticals, Inc		113
	595	*	IPG Photonics Corp		81
	17,495	*	IQVIA Holdings, Inc		2,613
	4,290		Iron Mountain, Inc		139
	7,900		iShares Dow Jones US Real Estate Index Fund		739
	177,185		iShares MSCI Canada Index Fund		5,121
	41,038		iShares MSCI South Korea Index Fund		2,312
	94,179		ITT, Inc		5,763
	1,700		J.M. Smucker Co		187
	1,149		Jack Henry & Associates, Inc		168
	2,039		Jacobs Engineering Group, Inc		187
	16,834		James Hardie Industries NV		283
	75,569	*	Jazz Pharmaceuticals plc		9,683
	1,288		JB Hunt Transport Services, Inc		143
	3,653		Jefferies Financial Group, Inc		67
	834,719		Johnson & Johnson		107,996
	11,849		Johnson Controls International plc		520
	770		Jones Lang LaSalle, Inc		107
	1,509,517		JPMorgan Chase & Co		177,655

244

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	5,130		Juniper Networks, Inc	$	127
	1,500		Kansas City Southern Industries, Inc		200
	3,804		Kellogg Co		245
	1,766,665	e	Keurig Dr Pepper, Inc		48,265
	15,039		Keycorp		268
	86,799	*	Keysight Technologies, Inc		8,441
	20,000		Kilroy Realty Corp		1,558
	55,902		Kimberly-Clark Corp		7,941
	6,309		Kimco Realty Corp		132
	30,279		Kinder Morgan, Inc		624
	7,291		KKR & Co, Inc		196
	2,404		Kla-Tencor Corp		383
	1,741	e	Knight-Swift Transportation Holdings, Inc		63
	2,617		Kohl’s Corp		130
	10,007		Kraft Heinz Co		280
	99,270		Kroger Co		2,559
	3,206		L Brands, Inc		63
	213,429		L3Harris Technologies, Inc		44,530
	19,264	*	Laboratory Corp of America Holdings		3,236
	288,756		Lam Research Corp		66,734
	2,172		Lamb Weston Holdings, Inc		158
	39,047		Las Vegas Sands Corp		2,255
	1,025		Lear Corp		121
	2,100		Leggett & Platt, Inc		86
	2,040		Leidos Holdings, Inc		175
	4,253		Lennar Corp (Class A)		238
	526		Lennox International, Inc		128
	788,656	*,e	Levi Strauss & Co		15,016
	1,592	*	Liberty Broadband Corp (Class C)		167
	2,867	*	Liberty Media Group (Class C)		119
	2,118		Liberty Property Trust		109
	1,282	*	Liberty SiriusXM Group (Class A)		53
	2,368	*	Liberty SiriusXM Group (Class C)		99
	3,020		Lincoln National Corp		182
	118,115		Linde plc		22,881
	2,208	*	Live Nation, Inc		146
	4,692	*	LKQ Corp		148
	16,385		Lockheed Martin Corp		6,391
	4,075		Loews Corp		210
	105,434		Lowe’s Companies, Inc		11,594
	9,348	*	Lyft, Inc (Class A)		382
	24,405		LyondellBasell Industries AF S.C.A		2,184
	34,184		M&T Bank Corp		5,400
	1,809	e	Macerich Co		57
	4,403	e	Macy’s, Inc		68
	965		Manpower, Inc		81
	13,452		Marathon Oil Corp		165
	82,540		Marathon Petroleum Corp		5,014
	202	*	Markel Corp		239
	563		MarketAxess Holdings, Inc		184
	22,214		Marriott International, Inc (Class A)		2,763
	120,027		Marsh & McLennan Cos, Inc		12,009
	931		Martin Marietta Materials, Inc		255

245

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	274,664		Marvell Technology Group Ltd	$	6,858
	4,374		Masco Corp		182
	420,000		MasterCard, Inc (Class A)		114,059
	291,525	*	Matador Resources Co		4,819
	4,054		Maxim Integrated Products, Inc		235
	1,823		McCormick & Co, Inc		285
	827,085		McDonald’s Corp		177,583
	2,829		McKesson Corp		387
	91,726	*,e	Medallia, Inc		2,516
	186,458		Medtronic plc		20,253
	1,999,502		Merck & Co, Inc		168,318
	29,448		Metlife, Inc		1,389
	370	*	Mettler-Toledo International, Inc		261
	755,889		MGM Growth Properties LLC		22,714
	7,645		MGM Resorts International		212
	3,544	e	Microchip Technology, Inc		329
	451,481	*	Micron Technology, Inc		19,346
	3,680,405	n	Microsoft Corp		511,687
	15,696		Mid-America Apartment Communities, Inc		2,041
	869	*	Middleby Corp		102
	995	*	Mohawk Industries, Inc		123
	2,829		Molson Coors Brewing Co (Class B)		163
	528,725		Mondelez International, Inc		29,249
	617	*,e	MongoDB, Inc		74
	1,098,402	*	Monster Beverage Corp		63,773
	2,539		Moody’s Corp		520
	2,711,621		Morgan Stanley		115,705
	2,052,364		Mosaic Co		42,073
	119,362		Motorola Solutions, Inc		20,340
	1,260		MSCI, Inc (Class A)		274
	57,687	*	Mylan NV		1,141
	1,728		NASDAQ OMX Group, Inc		172
	5,785		National Oilwell Varco, Inc		123
	2,422		National Retail Properties, Inc		137
	2,478	*,e	Nektar Therapeutics		45
	3,679		NetApp, Inc		193
	73,330	*	NetFlix, Inc		19,625
	5,917		Newell Rubbermaid, Inc		111
	441,492		Newmont Mining Corp		16,741
	5,913		News Corp (Class A)		82
	93,000		Nexteer Automotive Group Ltd		77
	141,994		NextEra Energy, Inc		33,083
	5,314		Nielsen NV		113
	1,490,981		Nike, Inc (Class B)		140,033
	5,577		NiSource, Inc		167
	7,155		Noble Energy, Inc		161
	1,425		Nordstrom, Inc		48
	18,204		Norfolk Southern Corp		3,271
	3,080		Northern Trust Corp		287
	88,535		Northrop Grumman Corp		33,182
	3,223	*	Norwegian Cruise Line Holdings Ltd		167
	29,966		NRG Energy, Inc		1,187
	4,529		Nucor Corp		231

246

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	45,820		NVIDIA Corp	$	7,976
	53	*	NVR, Inc		197
	13,333		Occidental Petroleum Corp		593
	2,989		OGE Energy Corp		136
	1,549	*	Okta, Inc		153
	962		Old Dominion Freight Line		163
	596,772		Olin Corp		11,172
	3,283	e	Omnicom Group, Inc		257
	5,980	*	ON Semiconductor Corp		115
	41,890		ONEOK, Inc		3,087
	199,793		Oracle Corp		10,995
	5,837	*	O’Reilly Automotive, Inc		2,326
	1,674		Owens Corning, Inc		106
	5,161		PACCAR, Inc		361
	6,615		Packaging Corp of America		702
	1,431	*	Palo Alto Networks, Inc		292
	126,685		Parker-Hannifin Corp		22,881
	687,305		Parsley Energy, Inc		11,547
	4,807		Paychex, Inc		398
	731	*	Paycom Software, Inc		153
	885,920	*	PayPal Holdings, Inc		91,772
	20,000		Pebblebrook Hotel Trust		556
	2,101,319	*,e	Peloton Interactive, Inc		52,743
	2,050,000	*	Penn National Gaming, Inc		38,181
	2,421		Pentair plc		92
	6,383	e	People’s United Financial, Inc		100
	245,103		PepsiCo, Inc		33,604
	1,650		PerkinElmer, Inc		141
	2,015		Perrigo Co plc		113
	1,016,613		Pfizer, Inc		36,527
	276,613		Philip Morris International, Inc		21,003
	86,743		Phillips 66		8,882
	1,634		Pinnacle West Capital Corp		159
	27,312		Pioneer Natural Resources Co		3,435
	717,728		Plains All American Pipeline LP		14,893
	326,016		Plains GP Holdings LP		6,921
	84,272		PNC Financial Services Group, Inc		11,812
	893		Polaris Industries, Inc		79
	3,515		PPG Industries, Inc		417
	68,262		PPL Corp		2,150
	4,149		Principal Financial Group		237
	1,539,482		Procter & Gamble Co		191,481
	113,136		Progressive Corp		8,740
	99,382		Prologis, Inc		8,469
	97,954		Prudential Financial, Inc		8,811
	71,634	*	PTC, Inc		4,884
	52,024		Public Service Enterprise Group, Inc		3,230
	11,838		Public Storage, Inc		2,903
	3,937		Pulte Homes, Inc		144
	1,205		PVH Corp		106
	32,122	*	QIAGEN NV (Turquoise)		1,052
	1,777	*	Qorvo, Inc		132
	125,000	e	QTS Realty Trust, Inc		6,426

247

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	198,468		QUALCOMM, Inc	$	15,139
	25,803		Quest Diagnostics, Inc		2,762
	5,874	*	Qurate Retail Group, Inc QVC Group		61
	845		Ralph Lauren Corp		81
	1,888		Raymond James Financial, Inc		156
	69,518		Raytheon Co		13,639
	24,712		Realty Income Corp		1,895
	37,494		Regency Centers Corp		2,605
	1,204	*	Regeneron Pharmaceuticals, Inc		334
	15,090		Regions Financial Corp		239
	932		Reinsurance Group of America, Inc (Class A)		149
	3,343		Republic Services, Inc		289
	17,133		Resmed, Inc		2,315
	421,304		Rexford Industrial Realty, Inc		18,546
	1,702		Robert Half International, Inc		95
	59,075		Rockwell Automation, Inc		9,736
	1,215	*	Roku, Inc		124
	2,132		Rollins, Inc		73
	83,908		Roper Industries, Inc		29,922
	25,155		Ross Stores, Inc		2,763
	2,662		Royal Caribbean Cruises Ltd		288
	38,814		S&P Global, Inc		9,509
	4,239		Sabre Corp		95
	1,162,205	*	salesforce.com, Inc		172,518
	20,972,141	g	Samsonite International		44,430
	1,129	*,e	Sarepta Therapeutics, Inc		85
	7,486		SBA Communications Corp		1,805
	929,743		Schlumberger Ltd		31,769
	3,719		Seagate Technology, Inc		200
	2,416		Sealed Air Corp		100
	30,674	*	Seattle Genetics, Inc		2,620
	1,933		SEI Investments Co		115
	28,667		Sempra Energy		4,232
	2,404	*	Sensata Technologies Holding plc		120
	244,856	*	ServiceNow, Inc		62,157
	8,495		Sherwin-Williams Co		4,671
	749		Signature Bank		89
	43,879		Simon Property Group, Inc		6,830
	24,010	e	Sirius XM Holdings, Inc		150
	2,575		Skyworks Solutions, Inc		204
	21,260		SL Green Realty Corp		1,738
	10,252	*,e	Snap, Inc		162
	808		Snap-On, Inc		126
	56,635		Southern Co		3,498
	1,974		Southwest Airlines Co		107
	91	h	Spectrum Brands Holdings, Inc		5
	1,503		Spirit Aerosystems Holdings, Inc (Class A)		124
	2,238	*	Splunk, Inc		264
	72,687	*	Sprint Corp		448
	5,010	*	Square, Inc		310
	3,397		SS&C Technologies Holdings, Inc		175
	161,029		Stanley Black & Decker, Inc		23,254
	176,018		Starbucks Corp		15,564

248

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	40,000		Starwood Property Trust, Inc	$	969
	5,567		State Street Corp		329
	3,513		Steel Dynamics, Inc		105
	17,258		STERIS plc		2,494
	40,712		Stryker Corp		8,806
	73,349		Sun Communities, Inc		10,889
	45,000		Sunstone Hotel Investors, Inc		618
	6,604		SunTrust Banks, Inc		454
	778	*	SVB Financial Group		163
	9,211		Symantec Corp		218
	9,247		Synchrony Financial		315
	43,562	*	Synopsys, Inc		5,979
	34,244		Sysco Corp		2,719
	3,516		T Rowe Price Group, Inc		402
	28,401	*	Take-Two Interactive Software, Inc		3,560
	1,378,728		Tapestry, Inc		35,916
	3,474	e	Targa Resources Investments, Inc		140
	720,202		Target Corp		76,997
	8,000		Taubman Centers, Inc		327
	4,126		TD Ameritrade Holding Corp		193
	98,763		TE Connectivity Ltd		9,203
	688		Teleflex, Inc		234
	20,000		Terreno Realty Corp		1,022
	1,952	*,e	Tesla, Inc		470
	88,745		Texas Instruments, Inc		11,469
	195,130		Textron, Inc		9,554
	73,825		Thermo Fisher Scientific, Inc		21,503
	1,634		Tiffany & Co		151
	4,409	*	Titan Cement International S.A.		92
	137,366		TJX Companies, Inc		7,657
	70,592	*	T-Mobile US, Inc		5,561
	1,800		Tractor Supply Co		163
	14,309		TransDigm Group, Inc		7,450
	155,765	*	Transocean Ltd (NYSE)		696
	2,789		TransUnion		226
	43,705		Travelers Cos, Inc		6,498
	310,038	*	TreeHouse Foods, Inc		17,192
	3,747	*	Trimble Navigation Ltd		145
	1,587	*	TripAdvisor, Inc		61
	1,115,498		Tronox Holdings plc		9,259
	1,660	*,e	Twilio, Inc		183
	810,256	*	Twitter, Inc		33,383
	4,389		Tyson Foods, Inc (Class A)		378
	2,971	*,e	Uber Technologies, Inc		91
	4,189		UDR, Inc		203
	3,084		UGI Corp		155
	829	*	Ulta Beauty, Inc		208
	1,234,843	*,e	Under Armour, Inc (Class A)		24,623
	2,470	*	Under Armour, Inc (Class C)		45
	964,175		Union Pacific Corp		156,177
	981	*	United Continental Holdings, Inc		87
	43,005		United Parcel Service, Inc (Class B)		5,153
	232,466	*	United Rentals, Inc		28,975

249

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	104,153		United Technologies Corp	$	14,219
	567,976		UnitedHealth Group, Inc		123,433
	1,234		Universal Health Services, Inc (Class B)		184
	3,372		UnumProvident Corp		100
	363,349		US Bancorp		20,108
	602		Vail Resorts, Inc		137
	111,420		Valero Energy Corp		9,497
	178,256		Valvoline, Inc		3,927
	414,861		Vanguard Emerging Markets ETF		16,702
	50,000		Vanguard FTSE Developed Markets ETF		2,054
	1,355	*	Varian Medical Systems, Inc		161
	8,904	*	Veeva Systems, Inc		1,360
	28,339		Ventas, Inc		2,070
	14,493		VEREIT, Inc		142
	1,594	*	VeriSign, Inc		301
	2,310		Verisk Analytics, Inc		365
	1,251,166		Verizon Communications, Inc		75,520
	37,717	*	Vertex Pharmaceuticals, Inc		6,390
	5,025		VF Corp		447
	160,777		Viacom, Inc (Class B)		3,863
	50,000	e	VICI Properties, Inc		1,132
	1,116,823		Visa, Inc (Class A)		192,105
	32,393		Vistra Energy Corp		866
	1,232		VMware, Inc (Class A)		185
	2,557		Vornado Realty Trust		163
	170,877		Voya Financial, Inc		9,303
	1,968		Vulcan Materials Co		298
	2,149		W.R. Berkley Corp		155
	52,368		W.W. Grainger, Inc		15,561
	712	*	WABCO Holdings, Inc		95
	5,135		Wabtec Corp		369
	78,189		Walgreens Boots Alliance, Inc		4,325
	1,386,628		Walmart, Inc		164,565
	1,508,289		Walt Disney Co		196,560
	3,927		Waste Connections, Inc		361
	150,267		Waste Management, Inc		17,281
	1,034	*	Waters Corp		231
	851	*,e	Wayfair, Inc		95
	4,702		WEC Energy Group, Inc		447
	749	*	WellCare Health Plans, Inc		194
	1,034,157		Wells Fargo & Co		52,163
	34,026		Welltower, Inc		3,084
	4,363		Western Digital Corp		260
	6,418		Western Union Co		149
	745	e	Westlake Chemical Corp		49
	3,842		WestRock Co		140
	33,849		Weyerhaeuser Co		938
	927		Whirlpool Corp		147
	268,076		Williams Cos, Inc		6,450
	1,924		Willis Towers Watson plc		371
	2,413	*	Workday, Inc		410
	2,536		WP Carey, Inc		227
	1,634,402	*	WPX Energy, Inc		17,308

250

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

				VALUE
SHARES			COMPANY	(000)
	154,323		WR Grace and Co	$	10,303
	66,445		Wynn Resorts Ltd		7,224
	7,661		Xcel Energy, Inc		497
	2,922		Xerox Holdings Corp		87
	3,782		Xilinx, Inc		363
	1,310	*,e	XPO Logistics, Inc		94
	2,682		Xylem, Inc		214
	52,194		Yum! Brands, Inc		5,920
	3,451	*	Zayo Group Holdings, Inc		117
	791	*	Zebra Technologies Corp (Class A)		163
	1,622	*,e	Zillow Group, Inc (Class C)		48
	398,570		Zimmer Biomet Holdings, Inc		54,712
	2,727	e	Zions Bancorporation		121
	179,270		Zoetis, Inc		22,335
	155,000	*,e	Zscaler, Inc		7,325
			TOTAL UNITED STATES		10,937,426
ZAMBIA - 0.0%
	550,685		First Quantum Minerals Ltd		4,626
			TOTAL ZAMBIA		4,626
			TOTAL COMMON STOCKS		19,551,014
			(Cost $17,989,155)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	1,321	e	Harvey Norman Holdings Ltd		2
			TOTAL AUSTRALIA		2
CHILE - 0.0%
	28,919	†	Enel Americas S.A.		0
			TOTAL CHILE		0
CHINA - 0.0%
	3,146	†	Legend Holdings Corp		0	^
			TOTAL CHINA		0	^
THAILAND - 0.0%
	644,083		TMB Bank PCL		4
			TOTAL THAILAND		4
			TOTAL RIGHTS / WARRANTS		6
			(Cost $0)

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 2.5%
GOVERNMENT AGENCY DEBT - 0.9%
$	40,000,000	Federal Home Loan Bank (FHLB)		2.022	%	10/24/19	39,952
	33,400,000	FHLB		1.855		11/18/19	33,316
	9,640,000	FHLB		1.865		11/26/19	9,612
	5,000,000	Federal Home Loan Mortgage Corp (FHLMC)		1.909		12/26/19	4,977

251

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

							MATURITY	VALUE
SHARES			COMPANY	RATE			DATE	(000)
$	95,000,000		Federal National Mortgage Association (FNMA)		1.690	%	10/01/19	$	95,000
			TOTAL GOVERNMENT AGENCY DEBT						182,857
TREASURY DEBT - 0.7%
	9,180,000		United States Treasury Bill		2.009-2.050		10/01/19		9,180
	52,790,000		United States Treasury Bill		1.917-2.014		10/08/19		52,772
	25,820,000		United States Treasury Bill		1.781		10/17/19		25,799
	20,000,000		United States Treasury Bill		1.964		11/05/19		19,966
	35,880,000		United States Treasury Bill		1.941		12/05/19		35,765
			TOTAL TREASURY DEBT						143,482
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.9%
CERTIFICATE OF DEPOSIT - 0.4%
	4,000,000		Australia & New Zealand Banking Group Ltd		2.425		01/17/20		4,003
	6,000,000		Australia & New Zealand Banking Group Ltd		2.214		04/27/20		6,000
	6,000,000		ING US Funding LLC		2.228		05/15/20		6,000
	13,000,000		Mizuho Bank Ltd		2.219		10/02/19		13,000
	14,000,000		National Australia Bank		2.188		05/15/20		14,000
	15,000,000		Natixis		2.268		05/14/20		15,000
	13,500,000		Skandinaviska Enskilda Banken AB		2.178		05/14/20		13,500
			TOTAL CERTIFICATE OF DEPOSIT						71,503
COMMERCIAL PAPER - 0.1%
	7,000,000		Canadian Imperial Bank of Commerce		2.310		10/01/19		7,000
	12,000,000		Cancara Asset Securitisation		0.010		10/01/19		12,000
			TOTAL COMMERCIAL PAPER						19,000
REPURCHASE AGREEMENT - 0.4%
	7,000,000	r	Calyon		1.800		10/01/19		7,000
	8,000,000	s	Calyon		2.300		10/01/19		8,000
	10,000,000	t	Citigroup		2.350		10/01/19		10,000
	20,000,000	u	Deutsche Bank		2.350		10/01/19		20,000
	5,000,000	v	HSBC		2.350		10/01/19		5,000
	14,000,000	w	Merrill Lynch		2.320		10/01/19		14,000
	5,000,000	x	Nomura		2.380		10/01/19		5,000
	13,000,000	y	Royal Bank of Scotland		2.380		10/01/19		13,000
			TOTAL REPURCHASE AGREEMENT						82,000
VARIABLE RATE SECURITIES - 0.0%
	5,000,000		Bedford Row Funding Corp		2.128		10/15/19		5,000
			TOTAL VARIABLE RATE SECURITIES						5,000
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						177,503
			TOTAL SHORT-TERM INVESTMENTS						503,842
			(Cost $503,824)
			TOTAL INVESTMENTS - 100.8%						20,054,865
			(Cost $18,492,982)
			OTHER ASSETS & LIABILITIES, NET - (0.8)%						(157,482	)
			NET ASSETS - 100.0%					$	19,897,383

252

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

	Abbreviation(s):
	ADR	American Depositary Receipt
	ETF	Exchange Traded Fund
	GDR	Global Depositary Receipt
	INR	Indian Rupee
	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 $303,331,882.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/19, the aggregate value of these securities was $176,873,413 or 0.9% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
r	Agreement with Calyon, 1.80% dated 9/30/19 to be repurchased at $7,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $7,140,000.
s	Agreement with Calyon, 2.30% dated 9/30/19 to be repurchased at $8,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $8,160,000.
t	Agreement with Citigroup, 2.35% dated 9/30/19 to be repurchased at $10,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $10,200,000.
u	Agreement with Deutsche Bank, 2.35% dated 9/30/19 to be repurchased at $20,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $20,400,000.
v	Agreement with HSBC, 2.35% dated 9/30/19 to be repurchased at $5,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $5,100,000.
w	Agreement with Merrill Lynch, 2.32% dated 9/30/19 to be repurchased at $14,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $14,280,000.
x	Agreement with Nomura, 2.38% dated 9/30/19 to be repurchased at $5,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $5,100,000.
y	Agreement with Royal Bank of Scotland, 2.38% dated 9/30/19 to be repurchased at $13,000,000 on 10/01/19, collateralized by U.S. Government Agency Securities valued at $13,260,000.
	Cost amounts are in thousands.

Written options outstanding as of September 30, 2019 were as follows (notional amounts and values are in thousands):

Description/underlying investment	Number of contracts		Notional amount			Exercise price		Expiration date		Value
Microsoft Corp, Call		470	$	(31	)	$	145.00		10/18/19	$	(24)
Microsoft Corp, Put		235		(27	)		120.00		11/15/19		(16)
Microsoft Corp, Put		235		(44	)		125.00		11/15/19		(27)
Total		940	$	(102	)					$	(67)

Futures contracts outstanding as of September 30, 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		518		12/20/19	$	49,187	$	49,169	$	(19)
S&P 500 E Mini Index		621		12/20/19		93,188		92,482		(705)
Total		1,139			$	142,375	$	141,651	$	(724)

253

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR

September 30, 2019

	VALUE			% OF
SECTOR	(000)			ASSETS
INFORMATION TECHNOLOGY	$	3,555,729			17.9	%
CONSUMER DISCRETIONARY		2,714,895			13.6
FINANCIALS		2,460,823			12.4
HEALTH CARE		2,291,811			11.5
CONSUMER STAPLES		2,026,668			10.2
INDUSTRIALS		1,988,063			10.0
COMMUNICATION SERVICES		1,586,501			8.0
MATERIALS		1,182,638			5.9
ENERGY		1,002,329			5.0
REAL ESTATE		407,303			2.1
UTILITIES		334,263			1.7
SHORT-TERM INVESTMENTS		503,842			2.5
OTHER ASSETS & LIABILITES, NET		(157,482	)		(0.8	)
NET ASSETS	$	19,897,383			100.0	%

254

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2019

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.3%
AUTOMOBILES & COMPONENTS - 0.0%
	1,339		Aptiv plc	$	117
	9,320	*,e	Tesla, Inc		2,245
			TOTAL AUTOMOBILES & COMPONENTS		2,362
BANKS - 0.0%
	80,817		CIT Group, Inc		3,662
	12		Comerica, Inc		1
	1,994		First Republic Bank		193
	485	*,e	LendingTree, Inc		151
	1,661		Signature Bank		198
	236	*	SVB Financial Group		49
	600		Synovus Financial Corp		21
	545		Western Alliance Bancorp		25
			TOTAL BANKS		4,300
CAPITAL GOODS - 4.9%
	33,825		3M Co		5,561
	1,571		A.O. Smith Corp		75
	595		Acuity Brands, Inc		80
	44		Air Lease Corp		2
	1,699,991		Airbus SE		220,707
	57,400	e	Allegion plc		5,949
	821,791		Allison Transmission Holdings, Inc		38,665
	83,172		Ametek, Inc		7,637
	3,290		Armstrong World Industries, Inc		318
	371,210		Boeing Co		141,234
	4,851	e	BWX Technologies, Inc		278
	3,229		Carlisle Cos, Inc		470
	7,810		Caterpillar, Inc		986
	2,315		Deere & Co		390
	8,466		Donaldson Co, Inc		441
	4,205		Dover Corp		419
	3,543		Emerson Electric Co		237
	34,299		Fastenal Co		1,121
	1,505		Flowserve Corp		70
	308,660		Fortive Corp		21,162
	3,724		Fortune Brands Home & Security, Inc		204
	1,217		General Dynamics Corp		222
	10,917		Graco, Inc		503
	37,980	e	HEICO Corp		4,743
	56,250		HEICO Corp (Class A)		5,474
	60,490		Hexcel Corp		4,968
	988,549		Honeywell International, Inc		167,263
	147,351	e	Hubbell, Inc		19,362

255

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,137		Huntington Ingalls	$	453
	2,501		IDEX Corp		410
	21,519	e	Illinois Tool Works, Inc		3,367
	15,017		Ingersoll-Rand plc		1,850
	360,932		L3Harris Technologies, Inc		75,305
	2,119		Lennox International, Inc		515
	3,700		Lincoln Electric Holdings, Inc		321
	163,370		Lockheed Martin Corp		63,724
	3,668	*	Middleby Corp		429
	3,454		Nordson Corp		505
	226,375		Northrop Grumman Corp		84,843
	2,440		Quanta Services, Inc		92
	11,504		Raytheon Co		2,257
	7,723		Rockwell Automation, Inc		1,273
	865,763		Roper Industries, Inc		308,731
	4,832	*	Sensata Technologies Holding plc		242
	410,474		Spirit Aerosystems Holdings, Inc (Class A)		33,757
	7,006		Toro Co		514
	66,929		TransDigm Group, Inc		34,848
	49,831	*	United Rentals, Inc		6,211
	2,901		W.W. Grainger, Inc		862
	43,844	*	WABCO Holdings, Inc		5,864
	3,405	e	Wabtec Corp		245
	2,990		Woodward Governor Co		322
	11,859		Xylem, Inc		944
			TOTAL CAPITAL GOODS		1,276,425
COMMERCIAL & PROFESSIONAL SERVICES - 2.3%
	740,000	*,e	Cimpress NV		97,562
	5,545		Cintas Corp		1,487
	13,085	*	Copart, Inc		1,051
	2,384	*	CoStar Group, Inc		1,414
	6,752		Equifax, Inc		950
	4,282,260		Experian Group Ltd		136,943
	8,543	*	IAA, Inc		356
	1,667,032	*	IHS Markit Ltd		111,491
	8,708	e	KAR Auction Services, Inc		214
	3,126		Nielsen NV		66
	235,116		Republic Services, Inc		20,349
	110,575	e	Robert Half International, Inc		6,155
	9,392		Rollins, Inc		320
	12,395		TransUnion		1,005
	10,573		Verisk Analytics, Inc		1,672
	2,350,000		Waste Connections, Inc		216,200
	86,632		Waste Management, Inc		9,963
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		607,198
CONSUMER DURABLES & APPAREL - 2.7%
	3,881	*	Capri Holdings Ltd		129
	1,323		Carter’s, Inc		121
	1,619		Columbia Sportswear Co		157
	1,250,373		Essilor International S.A.		180,278
	1,097,306		Hanesbrands, Inc		16,811
	7,686		Hasbro, Inc		912

256

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	499		Lennar Corp (B Shares)	$	22
	7,708		Lennar Corp (Class A)		430
	42,419	*	Lululemon Athletica, Inc		8,167
	14,961	*,e	Mattel, Inc		170
	3,588,074		Nike, Inc (Class B)		336,992
	214	*	NVR, Inc		795
	309,499	*,e	Peloton Interactive, Inc		7,768
	3,381		Polaris Industries, Inc		298
	9,916,100		Prada S.p.A		28,866
	19,852	*	Roku, Inc		2,020
	3,076	*	Skechers U.S.A., Inc (Class A)		115
	1,529,901		Sony Corp		90,430
	353,236	*	Tempur Sealy International, Inc		27,270
	8,447	*	Under Armour, Inc (Class A)		168
	8,211	*	Under Armour, Inc (Class C)		149
	20,389		VF Corp		1,814
			TOTAL CONSUMER DURABLES & APPAREL		703,882
CONSUMER SERVICES - 1.6%
	3,806	*	Bright Horizons Family Solutions		580
	237,242	*	Chipotle Mexican Grill, Inc (Class A)		199,395
	1,107	e	Choice Hotels International, Inc		98
	8,156		Darden Restaurants, Inc		964
	2,713		Domino’s Pizza, Inc		664
	5,104		Dunkin Brands Group, Inc		405
	235	*	Grand Canyon Education, Inc		23
	2,274		H&R Block, Inc		54
	665	*	Hilton Grand Vacations, Inc		21
	18,766		Hilton Worldwide Holdings, Inc		1,747
	10,796		Las Vegas Sands Corp		624
	18,196		Marriott International, Inc (Class A)		2,263
	524,134		McDonald’s Corp		112,537
	3,381		MGM Resorts International		94
	3,119	*	Norwegian Cruise Line Holdings Ltd		161
	64,408	*	Planet Fitness, Inc		3,727
	489,765		Restaurant Brands International, Inc		34,842
	3,856		Service Corp International		184
	1,621	*	ServiceMaster Global Holdings, Inc		91
	393		Six Flags Entertainment Corp		20
	690,882		Starbucks Corp		61,088
	2,377		Vail Resorts, Inc		541
	13,361		Wendy’s		267
	2,301		Wyndham Hotels & Resorts, Inc		119
	5,361		Wynn Resorts Ltd		583
	19,361		Yum China Holdings, Inc		880
	18,037		Yum! Brands, Inc		2,046
			TOTAL CONSUMER SERVICES		424,018
DIVERSIFIED FINANCIALS - 4.2%
	92,825		American Express Co		10,979
	16,002		Ameriprise Financial, Inc		2,354
	265,343		Apollo Global Management, Inc		10,035
	1,622,444	e	Blackstone Group, Inc		79,240

257

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,691		CBOE Global Markets, Inc	$	194
	155,641		Charles Schwab Corp		6,511
	36,743	*,e	Credit Acceptance Corp		16,950
	7,401		Discover Financial Services		600
	3,769		E*TRADE Financial Corp		165
	52,347		Evercore Partners, Inc (Class A)		4,193
	2,482	e	Factset Research Systems, Inc		603
	1,276		Interactive Brokers Group, Inc (Class A)		69
	1,125,013		IntercontinentalExchange Group, Inc		103,805
	1,609,500		iShares Russell 1000 Growth Index Fund		256,925
	2,338		Lazard Ltd (Class A)		82
	240,140		LPL Financial Holdings, Inc		19,668
	5,339		MarketAxess Holdings, Inc		1,749
	10,894		Moody’s Corp		2,231
	4,865		Morningstar, Inc		711
	140,858		MSCI, Inc (Class A)		30,672
	2,448		Raymond James Financial, Inc		202
	1,564,270		S&P Global, Inc		383,215
	4,462		SEI Investments Co		264
	2,618,096		Synchrony Financial		89,251
	4,405		T Rowe Price Group, Inc		503
	275,213		TD Ameritrade Holding Corp		12,852
	378	e	Virtu Financial, Inc		6
	1,053,994		Voya Financial, Inc		57,379
			TOTAL DIVERSIFIED FINANCIALS		1,091,408
ENERGY - 0.2%
	239,956		Cabot Oil & Gas Corp		4,216
	8,881	*	Cheniere Energy, Inc		560
	2,495		Diamondback Energy, Inc		224
	1,105		Equitrans Midstream Corp		16
	8,682		ONEOK, Inc		640
	3,276,233		Parsley Energy, Inc		55,041
	4,726		Pioneer Natural Resources Co		594
			TOTAL ENERGY		61,291
FOOD & STAPLES RETAILING - 1.9%
	166,896		Casey’s General Stores, Inc		26,897
	1,468,137		Costco Wholesale Corp		422,985
	3,840	*	Sprouts Farmers Market, Inc		74
	548,686		Sysco Corp		43,566
			TOTAL FOOD & STAPLES RETAILING		493,522
FOOD, BEVERAGE & TOBACCO - 2.6%
	60,568		Altria Group, Inc		2,477
	2,784		Brown-Forman Corp (Class A)		166
	10,634		Brown-Forman Corp (Class B)		668
	322,599	e	Campbell Soup Co		15,136
	2,421,430		Coca-Cola Co		131,823
	687,760		Coca-Cola European Partners plc (Class A)		38,136
	7,966,996		Davide Campari-Milano S.p.A		71,965
	1,493,812		Fevertree Drinks plc		44,435
	237,914		Hershey Co		36,874

258

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	14,150		Kellogg Co	$	911
	4,010,692	e	Keurig Dr Pepper, Inc		109,572
	2,486		Lamb Weston Holdings, Inc		181
	38,360	e	McCormick & Co, Inc		5,996
	3,182,529	*	Monster Beverage Corp		184,778
	219,880		PepsiCo, Inc		30,145
	825	*	Pilgrim’s Pride Corp		26
	1,933	*	Post Holdings, Inc		205
	373	*	TreeHouse Foods, Inc		21
			TOTAL FOOD, BEVERAGE & TOBACCO		673,515
HEALTH CARE EQUIPMENT & SERVICES - 4.4%
	49,473		Abbott Laboratories		4,139
	2,938	*	Abiomed, Inc		523
	900,000	*	Alcon, Inc		52,497
	1,650,833	*,e	Alcon, Inc		96,227
	384,145	*	Align Technology, Inc		69,499
	10,057		AmerisourceBergen Corp		828
	4,985		Anthem, Inc		1,197
	15,033		Baxter International, Inc		1,315
	1,497		Becton Dickinson & Co		379
	107,588	*	Boston Scientific Corp		4,378
	1,344		Cantel Medical Corp		101
	22,668	*,e	Centene Corp		981
	20,987		Cerner Corp		1,431
	1,658	*	Change Healthcare, Inc		20
	1,031		Chemed Corp		431
	19,151		Cigna Corp		2,907
	423		Cooper Cos, Inc		126
	776,782		CVS Health Corp		48,992
	2,237		Danaher Corp		323
	5,998	*,e	DexCom, Inc		895
	797,920	*	Edwards Lifesciences Corp		175,471
	66,593		Encompass Health Corp		4,214
	271,136	*	Envista Holdings Corp		7,559
	662,469	*	Guardant Health, Inc		42,285
	191,025		HCA Healthcare, Inc		23,003
	1,502	*	Henry Schein, Inc		95
	12,346	e	Hill-Rom Holdings, Inc		1,299
	113,983	*	Hologic, Inc		5,755
	3,838		Humana, Inc		981
	402	*,e	ICU Medical, Inc		64
	5,629	*	IDEXX Laboratories, Inc		1,531
	3,930	*,e	Insulet Corp		648
	687,858	*	Intuitive Surgical, Inc		371,395
	497	*	Laboratory Corp of America Holdings		83
	3,118	*	Masimo Corp		464
	105,893		McKesson Corp		14,471
	63,458	*	Medidata Solutions, Inc		5,806
	3,508	*	Molina Healthcare, Inc		385
	2,086	*,e	Penumbra, Inc		281
	9,404		Resmed, Inc		1,271
	30,404		STERIS plc		4,393

259

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	487,190		Stryker Corp	$	105,379
	3,058		Teleflex, Inc		1,039
	416,891		UnitedHealth Group, Inc		90,599
	6,022	*	Varian Medical Systems, Inc		717
	102,760	*	Veeva Systems, Inc		15,690
	3,005	*	WellCare Health Plans, Inc		779
	3,666		West Pharmaceutical Services, Inc		520
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,163,366
HOUSEHOLD & PERSONAL PRODUCTS - 0.4%
	16,302		Church & Dwight Co, Inc		1,226
	6,799		Clorox Co		1,033
	561,970		Estee Lauder Cos (Class A)		111,804
	821	*	Herbalife Ltd		31
	9,514		Procter & Gamble Co		1,183
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		115,277
INSURANCE - 0.1%
	114	*	Alleghany Corp		91
	15,521		Aon plc		3,004
	290,281	*	Arch Capital Group Ltd		12,186
	2,809		Arthur J. Gallagher & Co		252
	3,891	*	Athene Holding Ltd		164
	528		Axis Capital Holdings Ltd		35
	780		Brown & Brown, Inc		28
	1,082		Erie Indemnity Co (Class A)		201
	21,773		Everest Re Group Ltd		5,794
	46,479		Kemper Corp		3,623
	63	*	Markel Corp		74
	29,523		Marsh & McLennan Cos, Inc		2,954
	1,975		Primerica, Inc		251
	92,447		Progressive Corp		7,142
	1,030		RenaissanceRe Holdings Ltd		199
	2,810		Travelers Cos, Inc		418
			TOTAL INSURANCE		36,416
MATERIALS - 2.2%
	2,071		Air Products & Chemicals, Inc		459
	1,508		Aptargroup, Inc		179
	5,217		Avery Dennison Corp		592
	114,218	*	Axalta Coating Systems Ltd		3,444
	21,893		Ball Corp		1,594
	993,259	*	Berry Global Group, Inc		39,005
	271,951		CF Industries Holdings, Inc		13,380
	2,433,342		Corteva, Inc		68,134
	4,981	*	Crown Holdings, Inc		329
	2,249		Eagle Materials, Inc		202
	16,720		Ecolab, Inc		3,311
	3,412	*	Element Solutions, Inc		35
	307,359	e	International Flavors & Fragrances, Inc		37,710
	1,145,347		Linde plc		221,877
	1,272		Martin Marietta Materials, Inc		349
	397		NewMarket Corp		187

260

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	5,085		PPG Industries, Inc	$	603
	1,319		Royal Gold, Inc		162
	1,346		RPM International, Inc		93
	2,490		Scotts Miracle-Gro Co (Class A)		254
	603		Sealed Air Corp		25
	335,332		Sherwin-Williams Co		184,389
	4,079		Southern Copper Corp (NY)		139
	51,198		Vulcan Materials Co		7,743
	3,463		WR Grace and Co		231
			TOTAL MATERIALS		584,426
MEDIA & ENTERTAINMENT - 14.9%
	1,571,596	e	Activision Blizzard, Inc		83,169
	341,928	*	Alphabet, Inc (Class A)		417,542
	838,465	*	Alphabet, Inc (Class C)		1,022,089
	218,763	*	Altice USA, Inc		6,274
	2,520	*	AMC Networks, Inc		124
	289		Cable One, Inc		363
	19,752		CBS Corp (Class B)		797
	6,224	*	Charter Communications, Inc		2,565
	2,854,129		Comcast Corp (Class A)		128,664
	1,317,371	*	Electronic Arts, Inc		128,865
	5,716,948	*	Facebook, Inc		1,018,074
	2,476		Fox Corp (Class A)		78
	841		Fox Corp (Class B)		26
	198	*	Grocery Outlet Holding Corp		7
	1,747,762	*	IAC/InterActiveCorp		380,960
	1,113,953	e	Interpublic Group of Cos, Inc		24,017
	8,541	*,e	Live Nation, Inc		567
	27	*	Madison Square Garden Co		7
	3,574	e	Match Group, Inc		255
	671,611	*	NetFlix, Inc		179,736
	1,928	e	New York Times Co (Class A)		55
	2,539	e	Nexstar Broadcasting Group, Inc (Class A)		260
	192,164	e	Omnicom Group, Inc		15,046
	130,684		Sinclair Broadcast Group, Inc (Class A)		5,585
	90,591	e	Sirius XM Holdings, Inc		567
	28,717	*	Spotify Technology S.A.		3,274
	191,778	*	Take-Two Interactive Software, Inc		24,037
	3,324,713		Tencent Holdings Ltd		139,066
	6,297	*	TripAdvisor, Inc		244
	4,058,682	*	Twitter, Inc		167,218
	1,241,101		Walt Disney Co		161,740
	3,108	e	World Wrestling Entertainment, Inc (Class A)		221
	12,885	*	Zynga, Inc		75
			TOTAL MEDIA & ENTERTAINMENT		3,911,567
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.6%
	168,815		AbbVie, Inc		12,783
	771	*	Adaptive Biotechnologies Corp		24
	1,973		Agilent Technologies, Inc		151
	293	*,e	Agios Pharmaceuticals, Inc		10
	39,528	*	Alexion Pharmaceuticals, Inc		3,871

261

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	5,889	*	Alnylam Pharmaceuticals, Inc	$	474
	649,834		Amgen, Inc		125,749
	3,675,255		AstraZeneca plc		328,160
	9,024,842	*	Avantor, Inc		132,665
	1,015,132		Bayer AG.		71,519
	4,186	*	Biogen Idec, Inc		975
	247,690	*	BioMarin Pharmaceutical, Inc		16,694
	2,486		Bio-Techne Corp		486
	44,496		Bristol-Myers Squibb Co		2,256
	63,393		Bruker BioSciences Corp		2,785
	107,589	*	Celgene Corp		10,684
	3,189	*	Charles River Laboratories International, Inc		422
	490,004		Daiichi Sankyo Co Ltd		30,963
	1,155,305		Eli Lilly & Co		129,198
	8,464	*	Exact Sciences Corp		765
	15,278	*	Exelixis, Inc		270
	12,191		Gilead Sciences, Inc		773
	611,503	*	Horizon Pharma plc		16,651
	1,013,149	*	Illumina, Inc		308,220
	11,772	*	Incyte Corp		874
	8,475	*	Ionis Pharmaceuticals, Inc		508
	588,113	*	IQVIA Holdings, Inc		87,852
	18,893	*	Jazz Pharmaceuticals plc		2,421
	601,529		Johnson & Johnson		77,826
	322,899		Lonza Group AG.		109,273
	2,375,717		Merck & Co, Inc		199,988
	1,620	*	Mettler-Toledo International, Inc		1,141
	12,192	*,e	Moderna, Inc		194
	169	*,e	Nektar Therapeutics		3
	5,984	*	Neurocrine Biosciences, Inc		539
	1,728		PerkinElmer, Inc		147
	194,147	*	PRA Health Sciences, Inc		19,265
	1,117	*	Regeneron Pharmaceuticals, Inc		310
	3,339	*	Sage Therapeutics, Inc		468
	4,679	*	Sarepta Therapeutics, Inc		352
	7,866	*	Seattle Genetics, Inc		672
	207,930		Thermo Fisher Scientific, Inc		60,564
	473,476	*	Vertex Pharmaceuticals, Inc		80,216
	4,382	*	Waters Corp		978
	1,689,002	*,g	Wuxi Biologics Cayman, Inc		17,223
	3,122,156		Zoetis, Inc		388,990
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,246,352
REAL ESTATE - 0.6%
	7,307		American Homes 4 Rent		189
	42,906		American Tower Corp		9,488
	12,703	e	Americold Realty Trust		471
	4,697		Brookfield Property REIT, Inc		96
	213,926	*	CBRE Group, Inc		11,340
	1,567		Colony Capital, Inc		9
	2,040		Coresite Realty		249
	29,400		Crown Castle International Corp		4,087
	20,257		Equinix, Inc		11,684
	43,536		Equity Lifestyle Properties, Inc		5,816

262

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	6,633		Extra Space Storage, Inc	$	775
	847	*	Howard Hughes Corp		110
	2,185		Iron Mountain, Inc		71
	345		Jones Lang LaSalle, Inc		48
	5,606		Lamar Advertising Co		459
	1,694,279		MGM Growth Properties LLC		50,913
	26,010		Outfront Media, Inc		723
	7,428		Public Storage, Inc		1,822
	7,429		SBA Communications Corp		1,791
	220,221		Simon Property Group, Inc		34,277
	31,012		Sun Communities, Inc		4,604
	96,637		UDR, Inc		4,685
			TOTAL REAL ESTATE		143,707
RETAILING - 10.7%
	1,219		Advance Auto Parts, Inc		202
	771,562	*	Amazon.com, Inc		1,339,362
	1,195,050	*,e	ASOS plc		36,387
	1,618	*	AutoZone, Inc		1,755
	390,896		Best Buy Co, Inc		26,968
	3,817	*	Booking Holdings, Inc		7,491
	4,329	*	Burlington Stores, Inc		865
	1,816,331	*	CarMax, Inc		159,837
	2,641	*,e	Carvana Co		174
	2,091,300	*	Ctrip.com International Ltd (ADR)		61,254
	16,166		Dollar General Corp		2,569
	8,469	*	Dollar Tree, Inc		967
	3,995,040		eBay, Inc		155,727
	7,915	*,e	Etsy, Inc		447
	2,874,329		Expedia, Inc		386,338
	3,006,520	*,e	Farfetch Ltd		25,976
	13,133	*	Five Below, Inc		1,656
	4,547	*	Floor & Decor Holdings, Inc		233
	8,085,920	*	Groupon, Inc		21,508
	1,895,064	*,e	GrubHub, Inc		106,522
	768,514		Home Depot, Inc		178,311
	512,340	e	Kohl’s Corp		25,443
	907		L Brands, Inc		18
	3,191	*	LKQ Corp		100
	143,328		Lowe’s Companies, Inc		15,760
	6,964	e	Nordstrom, Inc		234
	3,509	*,e	Ollie’s Bargain Outlet Holdings, Inc		206
	4,994	*	O’Reilly Automotive, Inc		1,990
	2,555		Pool Corp		515
	404,043		Ross Stores, Inc		44,384
	244,632		Target Corp		26,154
	778,979	e	Tiffany & Co		72,157
	86,437		TJX Companies, Inc		4,818
	55,993		Tractor Supply Co		5,064
	5,618,175	*,g	Trainline plc		28,944
	212,494	*	Ulta Beauty, Inc		53,262
	4,128	*,e	Wayfair, Inc		463
	239,951	e	Williams-Sonoma, Inc		16,312
			TOTAL RETAILING		2,810,373

263

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.5%
	1,756,127	*	Advanced Micro Devices, Inc	$	50,910
	148,799		Analog Devices, Inc		16,625
	2,733,230		Applied Materials, Inc		136,388
	959,397		Broadcom, Inc		264,861
	425	*	Cree, Inc		21
	8,914		Entegris, Inc		420
	169,610		Kla-Tencor Corp		27,044
	602,265		Lam Research Corp		139,189
	6,759		Maxim Integrated Products, Inc		391
	20,630	e	Microchip Technology, Inc		1,917
	2,766		Monolithic Power Systems, Inc		430
	179,376		NVIDIA Corp		31,224
	201,817		NXP Semiconductors NV		22,022
	1,197,676		QUALCOMM, Inc		91,359
	440		Skyworks Solutions, Inc		35
	124,032		Teradyne, Inc		7,183
	2,404,323		Texas Instruments, Inc		310,735
	2,823		Universal Display Corp		474
	7,029		Versum Materials, Inc		372
	842,414		Xilinx, Inc		80,788
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		1,182,388
SOFTWARE & SERVICES - 24.7%
	1,093	*	2U, Inc		18
	353,867		Accenture plc		68,066
	1,110,090	*	Adobe, Inc		306,662
	260,745	*,g	Adyen NV		171,472
	1,927,766	*	Akamai Technologies, Inc		176,159
	253		Alliance Data Systems Corp		32
	2,931	*	Alteryx, Inc		315
	5,539	*	Anaplan, Inc		260
	5,537	*	Ansys, Inc		1,226
	4,565	*	Aspen Technology, Inc		562
	6,972	*	Atlassian Corp plc		875
	11,275	*	Autodesk, Inc		1,665
	1,134,159		Automatic Data Processing, Inc		183,076
	3,196	*	Avalara, Inc		215
	9,510	*	Black Knight, Inc		581
	313,002		Booz Allen Hamilton Holding Co		22,229
	7,532		Broadridge Financial Solutions, Inc		937
	66,028	*	Cadence Design Systems, Inc		4,363
	8,054		CDK Global, Inc		387
	4,274	*	Ceridian HCM Holding, Inc		211
	7,393		Citrix Systems, Inc		714
	2,845		Cognizant Technology Solutions Corp (Class A)		171
	4,047	*	Coupa Software, Inc		524
	10,115	*	DocuSign, Inc		626
	13,648	*	Dropbox, Inc		275
	1,962	*	Dynatrace, Inc		37
	13,685	*,e	Elastic NV		1,127
	3,435	*	EPAM Systems, Inc		626

264

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	208,663	*	Euronet Worldwide, Inc	$	30,527
	1,878	*	Fair Isaac Corp		570
	652,896		Fidelity National Information Services, Inc		86,679
	13,201	*	FireEye, Inc		176
	239	*	First American Corp		11
	37,404	*	Fiserv, Inc		3,875
	5,648	*,e	FleetCor Technologies, Inc		1,620
	364,899	*	Fortinet, Inc		28,010
	5,785	*	Gartner, Inc		827
	599,400		Genpact Ltd		23,227
	45,214		Global Payments, Inc		7,189
	1,055,107	*	GoDaddy, Inc		69,616
	5,402	*	Guidewire Software, Inc		569
	2,635	*	HubSpot, Inc		400
	105,310		International Business Machines Corp		15,314
	2,206,138		Intuit, Inc		586,700
	4,489		Jack Henry & Associates, Inc		655
	4,079	*	Manhattan Associates, Inc		329
	1,701,474		MasterCard, Inc (Class A)		462,069
	837	*,e	Medallia, Inc		23
	12,256,405		Microsoft Corp		1,704,008
	2,769	*,e	MongoDB, Inc		334
	3,258	*	New Relic, Inc		200
	9,705	*,e	Nutanix, Inc		255
	8,463	*,e	Okta, Inc		833
	229,451		Oracle Corp		12,627
	534	*,e	Pagerduty, Inc		15
	6,213	*	Palo Alto Networks, Inc		1,266
	21,279		Paychex, Inc		1,761
	3,261	*	Paycom Software, Inc		683
	2,296	*	Paylocity Holding Corp		224
	6,292,974	*	PayPal Holdings, Inc		651,889
	2,623	e	Pegasystems, Inc		179
	3,524	*,e	Pluralsight, Inc		59
	3,635	*,e	Proofpoint, Inc		469
	6,883	*	PTC, Inc		469
	5,811	*,e	RealPage, Inc		365
	4,727	*	RingCentral, Inc		594
	3,577		Sabre Corp		80
	4,554,376	*	salesforce.com, Inc		676,052
	984,188	*	ServiceNow, Inc		249,836
	74,980	*	Smartsheet, Inc		2,702
	1,236	*,e	SolarWinds Corp		23
	9,939	*,e	Splunk, Inc		1,171
	91,876	*	Square, Inc		5,692
	13,258		SS&C Technologies Holdings, Inc		684
	2,973	e	Switch, Inc		46
	9,874	*	Synopsys, Inc		1,355
	7,519	*	Teradata Corp		233
	2,549	*	Trade Desk, Inc		478
	109,654	*,e	Twilio, Inc		12,058
	2,497	*	Tyler Technologies, Inc		656
	49,057	*	VeriSign, Inc		9,254
	4,836,105		Visa, Inc (Class A)		831,859

265

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	5,090	e	VMware, Inc (Class A)	$	764
	6,144		Western Union Co		142
	2,849	*	WEX, Inc		576
	10,573	*	Workday, Inc		1,797
	7,241	*	Zendesk, Inc		528
	997,959	*,e	Zscaler, Inc		47,164
			TOTAL SOFTWARE & SERVICES		6,481,177
TECHNOLOGY HARDWARE & EQUIPMENT - 6.5%
	19,322		Amphenol Corp (Class A)		1,864
	5,027,183		Apple, Inc		1,125,938
	211,928	*	Arista Networks, Inc		50,634
	328,233		CDW Corp		40,451
	4,979,710		Cisco Systems, Inc		246,048
	10,855		Cognex Corp		533
	16,134		Corning, Inc		460
	77,208	*	Dell Technologies, Inc		4,004
	444		Dolby Laboratories, Inc (Class A)		29
	45,064	*	F5 Networks, Inc		6,328
	721		Flir Systems, Inc		38
	4,690		HP, Inc		89
	134	*	IPG Photonics Corp		18
	110,410		Jabil Circuit, Inc		3,949
	649,264	*	Keysight Technologies, Inc		63,141
	777,411		Motorola Solutions, Inc		132,479
	780		National Instruments Corp		33
	8,449	*	NCR Corp		267
	15,849		NetApp, Inc		832
	6,423,099	e	Nokia Corp		32,501
	15,027	*	Pure Storage, Inc		254
	3,525	*	Trimble Navigation Ltd		137
	38,094	e	Ubiquiti, Inc		4,505
	3,541	*,e	Zebra Technologies Corp (Class A)		731
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,715,263
TELECOMMUNICATION SERVICES - 0.1%
	218,988	*	T-Mobile US, Inc		17,250
	14,955	*	Zayo Group Holdings, Inc		507
			TOTAL TELECOMMUNICATION SERVICES		17,757
TRANSPORTATION - 1.2%
	3,587		Alaska Air Group, Inc		233
	997,945	e	American Airlines Group, Inc		26,915
	6,826		CH Robinson Worldwide, Inc		579
	18,167		CSX Corp		1,258
	7,769		Delta Air Lines, Inc		447
	8,088		Expeditors International of Washington, Inc		601
	417	*	Genesee & Wyoming, Inc (Class A)		46
	1,730	e	JB Hunt Transport Services, Inc		191
	1,405	*	JetBlue Airways Corp		24
	2,219		Landstar System, Inc		250
	1,495,725	*,e	Lyft, Inc (Class A)		61,085

266

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY					VALUE (000)
	2,366		Norfolk Southern Corp					$	425
	1,818		Old Dominion Freight Line						309
	68,134		Southwest Airlines Co						3,680
	1,168,467	*	Spirit Airlines, Inc						42,415
	2,025	*,e	Uber Technologies, Inc						62
	928,488		Union Pacific Corp						150,396
	3,433	*	United Continental Holdings, Inc						304
	82,808		United Parcel Service, Inc (Class B)						9,922
	3,492	*,e	XPO Logistics, Inc						250
			TOTAL TRANSPORTATION						299,392
			TOTAL COMMON STOCKS						26,045,382
			(Cost $20,739,130)
							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 1.7%
GOVERNMENT AGENCY DEBT - 0.2%
$	5,330,000		Federal Home Loan Bank (FHLB)		1.500	%	10/01/19		5,330
	7,500,000		FHLB		1.934		11/05/19		7,486
	20,000,000		FHLB		1.936		11/25/19		19,942
	30,880,000		FHLB		1.936		11/26/19		30,790
			TOTAL GOVERNMENT AGENCY DEBT						63,548
TREASURY DEBT - 0.5%
	45,400,000		United States Treasury Bill		1.888-2.001		10/08/19		45,384
	44,800,000		United States Treasury Bill		1.752		10/22/19		44,753
	26,940,000		United States Treasury Bill		1.934		11/05/19		26,894
	21,250,000		United States Treasury Bill		1.911		12/05/19		21,182
			TOTAL TREASURY DEBT						138,213
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.0%
	257,884,933	c	State Street Navigator Securities Lending Government Money Market Portfolio						257,885
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						257,885
			TOTAL SHORT-TERM INVESTMENTS						459,646
			(Cost $459,633)
			TOTAL INVESTMENTS - 101.0%						26,505,028
			(Cost $21,198,763)
			OTHER ASSETS & LIABILITIES, NET - (1.0)%						(272,807	)
			NET ASSETS - 100.0%					$	26,232,221
			Abbreviation(s):
			ADR     American Depositary Receipt
			REIT     Real Estate Investment Trust
		*	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 $329,057,804.
		g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/19, the aggregate value of these securities was $217,638,626 or 0.8% of net assets.
			Cost amounts are in thousands.

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND

EQUITY INDEX ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2019

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.6%
AUTOMOBILES & COMPONENTS - 0.6%
	60,563	e	Adient plc	$	1,391
	60,325	*	American Axle & Manufacturing Holdings, Inc		496
	166,082		Aptiv plc		14,519
	131,330		BorgWarner, Inc		4,817
	15,097		Cooper Tire & Rubber Co		394
	12,534	*	Cooper-Standard Holding, Inc		512
	76,541		Dana Holding Corp		1,105
	19,677	*,e	Dorman Products, Inc		1,565
	2,463,815		Ford Motor Co		22,569
	25,297	*	Fox Factory Holding Corp		1,575
	793,124		General Motors Co		29,726
	146,733		Gentex Corp		4,040
	26,543	*	Gentherm, Inc		1,091
	137,668		Goodyear Tire & Rubber Co		1,983
	99,714		Harley-Davidson, Inc		3,587
	17,506		LCI Industries, Inc		1,608
	39,163		Lear Corp		4,617
	36,302	*	Modine Manufacturing Co		413
	13,147	*,e	Motorcar Parts of America, Inc		222
	24,709		Spartan Motors, Inc		339
	15,087		Standard Motor Products, Inc		732
	20,247	*	Stoneridge, Inc		627
	28,062	e	Tenneco, Inc		351
	90,850	*,e	Tesla, Inc		21,883
	35,644		Thor Industries, Inc		2,019
	22,699	*,e	Visteon Corp		1,874
	22,457		Winnebago Industries, Inc		861
			TOTAL AUTOMOBILES & COMPONENTS		124,916
BANKS - 5.8%
	12,408		1st Source Corp		567
	4,570		ACNB Corp		157
	7,958	*	Allegiance Bancshares, Inc		255
	12,491	*,e	Amerant Bancorp Inc		262
	5,882		American National Bankshares, Inc		209
	38,500		Ameris Bancorp		1,549
	7,069	*	Ames National Corp		202
	8,428		Arrow Financial Corp		281
	100,294		Associated Banc-Corp		2,031
	14,762	*	Atlantic Capital Bancshares, Inc		256
	42,326		Atlantic Union Bankshares Corp		1,576
	43,167	*	Axos Financial, Inc		1,194
	31,112		Banc of California, Inc		440
	11,574		Bancfirst Corp		641

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	62,103		BancorpSouth Bank	$	1,839
	3,732	e	Bank First Corp		247
	5,420,293		Bank of America Corp		158,110
	11,787		Bank of Commerce Holdings		128
	23,380		Bank of Hawaii Corp		2,009
	7,728		Bank of Marin Bancorp		321
	36,956		Bank of NT Butterfield & Son Ltd		1,095
	82,422		Bank OZK		2,248
	12,265		BankFinancial Corp		146
	74,384		BankUnited		2,501
	3,897		Bankwell Financial Group, Inc		107
	23,725		Banner Corp		1,333
	11,016		Bar Harbor Bankshares		275
	6,936	*	Baycom Corp		158
	483,908		BB&T Corp		25,826
	7,059		BCB Bancorp, Inc		91
	26,834		Berkshire Hills Bancorp, Inc		786
	15,941		BOK Financial Corp		1,262
	59,217		Boston Private Financial Holdings, Inc		690
	13,328	e	Bridge Bancorp, Inc		394
	54,590		Brookline Bancorp, Inc		804
	12,987		Bryn Mawr Bank Corp		474
	6,436		Business First Bancshares, Inc		157
	5,576	*	Byline Bancorp, Inc		100
	2,353		C&F Financial Corp		124
	65,383		Cadence BanCorp		1,147
	2,502	e	Cambridge Bancorp		188
	11,436		Camden National Corp		495
	9,158		Capital City Bank Group, Inc		251
	92,364		Capitol Federal Financial		1,273
	5,956		Capstar Financial Holdings, Inc		99
	10,298		Carolina Financial Corp		366
	14,623	*	Carter Bank & Trust		276
	40,414		Cathay General Bancorp		1,404
	12,633		CBTX, Inc		352
	62,898		Centerstate Banks of Florida, Inc		1,509
	21,511		Central Pacific Financial Corp		611
	6,214		Central Valley Community Bancorp		126
	2,245		Century Bancorp, Inc		197
	2,189		Chemung Financial Corp		92
	62,708		CIT Group, Inc		2,841
	1,453,372		Citigroup, Inc		100,399
	9,568		Citizens & Northern Corp		251
	287,158		Citizens Financial Group, Inc		10,157
	10,955	e	City Holding Co		835
	7,262		Civista Bancshares, Inc		158
	9,772	e	CNB Financial Corp		280
	6,453		Codorus Valley Bancorp, Inc		150
	51,998		Columbia Banking System, Inc		1,919
	33,673	*	Columbia Financial, Inc		532
	95,573		Comerica, Inc		6,307
	59,019	e	Commerce Bancshares, Inc		3,580
	4,712		Commerce Union Bancshares, Inc		113
	35,397		Community Bank System, Inc		2,184

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	15,668		Community Bankers Trust Corp	$	135
	2,846		Community Financial Corp		95
	11,638		Community Trust Bancorp, Inc		496
	21,722		ConnectOne Bancorp, Inc		482
	38,938	e	Cullen/Frost Bankers, Inc		3,448
	19,196	*	Customers Bancorp, Inc		398
	75,634		CVB Financial Corp		1,578
	23,810		Dime Community Bancshares		510
	22,688		Eagle Bancorp, Inc		1,012
	93,759	e	East West Bancorp, Inc		4,153
	4,525	*	Entegra Financial Corp		136
	6,481		Enterprise Bancorp, Inc		194
	16,077		Enterprise Financial Services Corp		655
	7,477	*	Equity Bancshares, Inc		200
	6,121		ESSA Bancorp, Inc		101
	55,323		Essent Group Ltd		2,637
	3,168		Evans Bancorp, Inc		118
	6,654	e	Farmers & Merchants Bancorp, Inc		173
	18,150		Farmers National Banc Corp		263
	4,563		FB Financial Corp		171
	6,481		Federal Agricultural Mortgage Corp (Class C)		529
	476,743		Fifth Third Bancorp		13,053
	10,211		Financial Institutions, Inc		308
	20,427		First Bancorp (NC)		733
	114,850		First Bancorp (Puerto Rico)		1,146
	6,485		First Bancorp, Inc		178
	6,018	e	First Bancshares, Inc		194
	26,747		First Busey Corp		676
	6,176		First Business Financial Services, Inc		149
	3,874		First Citizens Bancshares, Inc (Class A)		1,827
	69,402		First Commonwealth Financial Corp		922
	12,139		First Community Bancshares, Inc		393
	15,452		First Defiance Financial Corp		448
	68,200		First Financial Bancorp		1,669
	92,318		First Financial Bankshares, Inc		3,077
	8,330		First Financial Corp		362
	6,257		First Financial Northwest, Inc		92
	19,660		First Foundation, Inc		300
	3,022		First Guaranty Bancshares, Inc		67
	71,845		First Hawaiian, Inc		1,918
	181,409		First Horizon National Corp		2,939
	4,089		First Internet Bancorp		88
	18,329		First Interstate Bancsystem, Inc		738
	29,933		First Merchants Corp		1,127
	7,120		First Mid-Illinois Bancshares, Inc		247
	73,424		First Midwest Bancorp, Inc		1,430
	7,602		First Northwest Bancorp		132
	15,462		First of Long Island Corp		352
	107,798		First Republic Bank		10,424
	15,789		Flagstar Bancorp, Inc		590
	20,105		Flushing Financial Corp		406
	181,165		FNB Corp		2,089
	8,854		Franklin Financial Network, Inc		267

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	84,379		Fulton Financial Corp	$	1,365
	14,703		German American Bancorp, Inc		471
	55,696		Glacier Bancorp, Inc		2,253
	7,809		Great Southern Bancorp, Inc		445
	42,914		Great Western Bancorp, Inc		1,416
	2,003		Greene County Bancorp, Inc		55
	1,224		Guaranty Bancshares, Inc		37
	61,636		Hancock Holding Co		2,360
	23,963		Hanmi Financial Corp		450
	16,668	*	HarborOne Northeast Bancorp, Inc		168
	17,800		Heartland Financial USA, Inc		796
	25,661		Heritage Commerce Corp		302
	22,188		Heritage Financial Corp		598
	54,190		Hilltop Holdings, Inc		1,295
	997		Hingham Institution for Savings		188
	4,264		Home Bancorp, Inc		166
	112,204		Home Bancshares, Inc		2,109
	15,022	*	HomeStreet, Inc		410
	13,541		HomeTrust Bancshares, Inc		353
	93,574		Hope Bancorp, Inc		1,342
	23,268		Horizon Bancorp		404
	6,001	*	Howard Bancorp, Inc		100
	701,072		Huntington Bancshares, Inc		10,004
	35,117		IBERIABANK Corp		2,653
	23,332		Independent Bank Corp (MA)		1,742
	17,558		Independent Bank Corp (MI)		374
	20,253		Independent Bank Group, Inc		1,066
	40,567		International Bancshares Corp		1,567
	5,550		Investar Holding Corp		132
	133,839		Investors Bancorp, Inc		1,520
	2,046,337		JPMorgan Chase & Co		240,833
	83,674		Kearny Financial Corp		1,091
	644,922		Keycorp		11,505
	32,502		Lakeland Bancorp, Inc		502
	18,387	e	Lakeland Financial Corp		809
	6,780		LCNB Corp		120
	33,647		LegacyTexas Financial Group, Inc		1,465
	4,628	*,e	LendingTree, Inc		1,437
	14,926	e	Live Oak Bancshares, Inc		270
	88,745		M&T Bank Corp		14,019
	19,210		Macatawa Bank Corp		200
	4,666	*	Malvern Bancorp, Inc		102
	12,428		Mercantile Bank Corp		408
	10,918		Merchants Bancorp		181
	35,757		Meridian Bancorp, Inc		670
	20,574		Meta Financial Group, Inc		671
	4,420	*	Metropolitan Bank Holding Corp		174
	210,298		MGIC Investment Corp		2,646
	10,800		Midland States Bancorp, Inc		281
	7,821		MidWestOne Financial Group, Inc		239
	34,360	*	Mr Cooper Group, Inc		365
	3,816		MutualFirst Financial, Inc		120
	19,324		National Bank Holdings Corp		661
	5,351		National Bankshares, Inc		214

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	31,726		NBT Bancorp, Inc	$	1,161
	305,096	e	New York Community Bancorp, Inc		3,829
	6,480	*	Nicolet Bankshares, Inc		431
	38,864	*	NMI Holdings, Inc		1,021
	5,235		Northeast Bank		116
	33,024		Northfield Bancorp, Inc		530
	5,019		Northrim BanCorp, Inc		199
	69,442		Northwest Bancshares, Inc		1,138
	4,425	e	Norwood Financial Corp		140
	30,487		OceanFirst Financial Corp		719
	33,903		OFG Bancorp		742
	3,155		Ohio Valley Banc Corp		115
	6,461		Old Line Bancshares, Inc		187
	90,192		Old National Bancorp		1,552
	21,667		Old Second Bancorp, Inc		265
	14,808		Opus Bank		322
	11,057		Origin Bancorp, Inc		373
	26,521		Oritani Financial Corp		469
	5,318		Orrstown Financial Services, Inc		116
	11,579	*	Pacific Mercantile Bancorp		87
	28,237		Pacific Premier Bancorp, Inc		881
	81,519		PacWest Bancorp		2,962
	9,690		Park National Corp		919
	4,177		Parke Bancorp, Inc		93
	13,465		PCSB Financial Corp		269
	11,582		Peapack Gladstone Financial Corp		325
	2,964		Penns Woods Bancorp, Inc		137
	9,540		PennyMac Financial Services, Inc		290
	3,256		Peoples Bancorp of North Carolina, Inc		97
	12,623		Peoples Bancorp, Inc		402
	5,712		Peoples Financial Services Corp		259
	252,873	e	People’s United Financial, Inc		3,954
	9,341		People’s Utah Bancorp		264
	50,971		Pinnacle Financial Partners, Inc		2,893
	287,177		PNC Financial Services Group, Inc		40,251
	51,633		Popular, Inc		2,792
	8,859		Preferred Bank		464
	8,456		Premier Financial Bancorp, Inc		145
	40,106	e	Prosperity Bancshares, Inc		2,833
	3,260	*	Provident Bancorp, Inc		78
	45,191		Provident Financial Services, Inc		1,109
	6,101		Prudential Bancorp, Inc		104
	8,729		QCR Holdings, Inc		332
	122,609		Radian Group, Inc		2,800
	9,265		RBB Bancorp		182
	641,235		Regions Financial Corp		10,144
	30,881		Renasant Corp		1,081
	6,104		Republic Bancorp, Inc (Class A)		265
	34,776	*	Republic First Bancorp, Inc		146
	13,238		Riverview Bancorp, Inc		98
	25,676		S&T Bancorp, Inc		938
	22,606		Sandy Spring Bancorp, Inc		762
	28,631	*	Seacoast Banking Corp of Florida		725

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	32,848		ServisFirst Bancshares, Inc	$	1,089
	8,913		Shore Bancshares, Inc		137
	8,919		Sierra Bancorp		237
	34,007		Signature Bank		4,054
	55,218		Simmons First National Corp (Class A)		1,375
	5,382	*	SmartFinancial, Inc		112
	24,776		South State Corp		1,866
	4,079	*	Southern First Bancshares, Inc		163
	4,139		Southern Missouri Bancorp, Inc		151
	8,140		Southern National Bancorp of Virginia, Inc		125
	20,042		Southside Bancshares, Inc		684
	11,631		Sterling Bancorp, Inc		114
	151,652		Sterling Bancorp/DE		3,042
	16,305		Stock Yards Bancorp, Inc		598
	6,101		Summit Financial Group, Inc		156
	288,327		SunTrust Banks, Inc		19,837
	33,541	*	SVB Financial Group		7,008
	103,301		Synovus Financial Corp		3,694
	108,200		TCF Financial Corp		4,119
	5,870		Territorial Bancorp, Inc		168
	35,836	*	Texas Capital Bancshares, Inc		1,958
	34,383		TFS Financial Corp		620
	35,393	*	The Bancorp, Inc		350
	4,645		Timberland Bancorp, Inc		128
	10,641		Tompkins Trustco, Inc		863
	46,422		TowneBank		1,291
	19,212		Trico Bancshares		697
	16,178	*	Tristate Capital Holdings, Inc		340
	10,668	*	Triumph Bancorp, Inc		340
	71,043		Trustco Bank Corp NY		579
	49,168		Trustmark Corp		1,677
	26,057		UMB Financial Corp		1,683
	161,706		Umpqua Holdings Corp		2,662
	2,885	e	Union Bankshares, Inc		91
	72,013	e	United Bankshares, Inc		2,727
	51,942		United Community Banks, Inc		1,473
	34,307		United Community Financial Corp		370
	36,948		United Financial Bancorp, Inc		504
	9,461		United Security Bancshares		100
	5,346		Unity Bancorp, Inc		118
	19,117		Univest Corp of Pennsylvania		488
	919,707		US Bancorp		50,897
	216,752	e	Valley National Bancorp		2,356
	22,054		Veritex Holdings, Inc		535
	19,235		Walker & Dunlop, Inc		1,076
	50,737		Washington Federal, Inc		1,877
	10,818		Washington Trust Bancorp, Inc		523
	19,189		Waterstone Financial, Inc		330
	67,195		Webster Financial Corp		3,149
	2,555,452		Wells Fargo & Co		128,897
	35,721		WesBanco, Inc		1,335
	11,970		West Bancorporation, Inc		260
	18,981	e	Westamerica Bancorporation		1,180
	68,448		Western Alliance Bancorp		3,154

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	19,137		Western New England Bancorp, Inc	$	182
	38,890		Wintrust Financial Corp		2,513
	37,123		WSFS Financial Corp		1,637
	119,408		Zions Bancorporation		5,316
			TOTAL BANKS		1,095,397
CAPITAL GOODS - 7.0%
	360,965		3M Co		59,343
	93,763		A.O. Smith Corp		4,473
	29,877		Aaon, Inc		1,373
	23,226		AAR Corp		957
	43,959		Actuant Corp (Class A)		964
	24,498		Acuity Brands, Inc		3,302
	24,758		Advanced Drainage Systems, Inc		799
	93,206	*	Aecom Technology Corp		3,501
	24,436	*	Aegion Corp		522
	49,582	*,e	Aerojet Rocketdyne Holdings, Inc		2,504
	14,335	*	Aerovironment, Inc		768
	39,973		AGCO Corp		3,026
	56,080		Air Lease Corp		2,345
	13,921		Aircastle Ltd		312
	6,904		Alamo Group, Inc		813
	21,082		Albany International Corp (Class A)		1,901
	58,342		Allegion plc		6,047
	4,493		Allied Motion Technologies, Inc		159
	68,688		Allison Transmission Holdings, Inc		3,232
	41,492		Altra Holdings, Inc		1,149
	13,776	*	Ameresco, Inc		221
	10,171	*	American Woodmark Corp		904
	140,933		Ametek, Inc		12,940
	20,270		Apogee Enterprises, Inc		790
	27,154		Applied Industrial Technologies, Inc		1,542
	251,954		Arconic, Inc		6,551
	30,718		Arcosa, Inc		1,051
	10,471		Argan, Inc		411
	17,658	*	Armstrong Flooring, Inc		113
	31,783		Armstrong World Industries, Inc		3,073
	15,250	e	Astec Industries, Inc		474
	15,755	*	Astronics Corp		463
	23,836	*	Atkore International Group, Inc		723
	35,579	*	Axon Enterprise, Inc		2,020
	19,364		AZZ, Inc		843
	25,595		Barnes Group, Inc		1,319
	41,684	*,e	Beacon Roofing Supply, Inc		1,398
	35,611	*,e	Bloom Energy Corp		116
	3,946	*	Blue Bird Corp		75
	6,034	*,e	BlueLinx Holdings, Inc		195
	47,040	*	BMC Stock Holdings, Inc		1,232
	339,748		Boeing Co		129,264
	30,438		Briggs & Stratton Corp		184
	67,070	*	Builders FirstSource, Inc		1,380
	66,179		BWX Technologies, Inc		3,786
	14,163	e	Caesarstone Sdot-Yam Ltd		235

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	8,775	*	CAI International, Inc	$	191
	36,112		Carlisle Cos, Inc		5,256
	351,130		Caterpillar, Inc		44,351
	22,344	*	Chart Industries, Inc		1,393
	12,045	*	CIRCOR International, Inc		452
	64,286	*	Colfax Corp		1,868
	14,727		Columbus McKinnon Corp		537
	24,840		Comfort Systems USA, Inc		1,099
	18,016	*	Commercial Vehicle Group, Inc		130
	28,296	*	Continental Building Products, Inc		772
	29,151	*	Cornerstone Building Brands, Inc		176
	28,721		Crane Co		2,316
	10,574		CSW Industrials, Inc		730
	18,660		Cubic Corp		1,314
	96,287		Cummins, Inc		15,663
	26,243		Curtiss-Wright Corp		3,395
	203,317		Deere & Co		34,296
	81,746		Donaldson Co, Inc		4,257
	16,771		Douglas Dynamics, Inc		747
	91,263		Dover Corp		9,086
	8,048	*	Ducommun, Inc		341
	11,117	*	DXP Enterprises, Inc		386
	16,954	*	Dycom Industries, Inc		866
	3,733		Eastern Co		93
	267,623		Eaton Corp		22,253
	35,403		EMCOR Group, Inc		3,049
	393,444		Emerson Electric Co		26,306
	15,305		Encore Wire Corp		861
	11,608	*,e	Energous Corp		38
	24,905	*,e	Energy Recovery, Inc		231
	31,570		EnerSys		2,082
	58,642	*,e	Enphase Energy, Inc		1,304
	15,803		EnPro Industries, Inc		1,085
	18,556		ESCO Technologies, Inc		1,476
	2,576	e	EVI Industries, Inc		82
	51,314	*	Evoqua Water Technologies Corp		873
	375,818		Fastenal Co		12,278
	42,557		Federal Signal Corp		1,393
	82,555		Flowserve Corp		3,856
	91,070		Fluor Corp		1,742
	189,288		Fortive Corp		12,978
	99,180		Fortune Brands Home & Security, Inc		5,425
	9,256	*	Foundation Building Materials, Inc		143
	34,098		Franklin Electric Co, Inc		1,630
	72,418	*	Gardner Denver Holdings, Inc		2,049
	30,738	*	Gates Industrial Corp plc		310
	20,759	e	GATX Corp		1,609
	4,980	*	Gencor Industries, Inc		58
	41,949	*	Generac Holdings, Inc		3,286
	163,348		General Dynamics Corp		29,849
	5,591,329		General Electric Co		49,986
	22,869	*	Gibraltar Industries, Inc		1,051
	17,148	*	GMS, Inc		492
	14,132		Gorman-Rupp Co		492

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	104,372		Graco, Inc	$	4,805
	26,067		GrafTech International Ltd		334
	7,763		Graham Corp		154
	33,088	e	Granite Construction, Inc		1,063
	44,924	*	Great Lakes Dredge & Dock Corp		469
	19,838		Greenbrier Cos, Inc		598
	20,793		Griffon Corp		436
	23,777		H&E Equipment Services, Inc		686
	59,172	*	Harsco Corp		1,122
	105,294	*	HD Supply Holdings, Inc		4,125
	26,390		HEICO Corp		3,296
	46,469		HEICO Corp (Class A)		4,522
	16,194		Helios Technologies, Inc		657
	17,889	*	Herc Holdings, Inc		832
	57,257		Hexcel Corp		4,703
	29,488		Hillenbrand, Inc		911
	465,911		Honeywell International, Inc		78,832
	34,474		Hubbell, Inc		4,530
	25,622		Huntington Ingalls		5,426
	4,796		Hurco Cos, Inc		154
	7,224		Hyster-Yale Materials Handling, Inc		395
	46,427		IDEX Corp		7,608
	5,334	*	IES Holdings, Inc		110
	206,240		Illinois Tool Works, Inc		32,275
	150,624		Ingersoll-Rand plc		18,558
	13,472		Insteel Industries, Inc		277
	53,134		ITT, Inc		3,251
	79,466		Jacobs Engineering Group, Inc		7,271
	47,393	*	JELD-WEN Holding, Inc		914
	22,550		John Bean Technologies Corp		2,242
	511,979		Johnson Controls International plc		22,471
	8,084	e	Kadant, Inc		710
	17,941		Kaman Corp		1,067
	56,290		Kennametal, Inc		1,730
	50,983	*	Kratos Defense & Security Solutions, Inc		948
	143,288		L3Harris Technologies, Inc		29,896
	4,456	*	Lawson Products, Inc		173
	5,677	*	LB Foster Co (Class A)		123
	22,519		Lennox International, Inc		5,471
	36,237		Lincoln Electric Holdings, Inc		3,144
	7,273	e	Lindsay Corp		675
	158,426		Lockheed Martin Corp		61,796
	17,575		Luxfer Holdings PLC		274
	12,223	*	Lydall, Inc		304
	22,630	*	Manitowoc Co, Inc		283
	187,450		Masco Corp		7,813
	18,516	*	Masonite International Corp		1,074
	38,304	*,e	Mastec, Inc		2,487
	38,365	e	Maxar Technologies, Inc		292
	33,690	*	Mercury Systems, Inc		2,735
	34,734	*	Meritor, Inc		643
	35,939	*	Middleby Corp		4,201
	31,692	*	Milacron Holdings Corp		528

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	7,280		Miller Industries, Inc	$	242
	22,998		Moog, Inc (Class A)		1,866
	64,419	*	MRC Global, Inc		781
	25,456		MSC Industrial Direct Co (Class A)		1,846
	40,743		Mueller Industries, Inc		1,169
	104,855		Mueller Water Products, Inc (Class A)		1,179
	10,993	*	MYR Group, Inc		344
	3,534	e	National Presto Industries, Inc		315
	35,673	*	Navistar International Corp		1,003
	19,066		NN, Inc		136
	33,227		Nordson Corp		4,860
	100,935		Northrop Grumman Corp		37,829
	6,891	*	Northwest Pipe Co		194
	78,206	*	NOW, Inc		897
	5,211	*,e	NV5 Holdings, Inc		356
	110,096		nVent Electric plc		2,427
	2,354		Omega Flex, Inc		241
	46,060		Oshkosh Truck Corp		3,491
	74,736		Owens Corning, Inc		4,723
	216,482		PACCAR, Inc		15,156
	81,383		Parker-Hannifin Corp		14,699
	12,058	*	Parsons Corp		398
	17,097	*,e	Patrick Industries, Inc		733
	96,376		Pentair plc		3,643
	36,380	*	PGT, Inc		628
	159,236	*,e	Plug Power, Inc		419
	7,077		Powell Industries, Inc		277
	1,801		Preformed Line Products Co		98
	28,783		Primoris Services Corp		564
	18,284	*	Proto Labs, Inc		1,867
	25,291		Quanex Building Products Corp		457
	90,888		Quanta Services, Inc		3,436
	25,955		Raven Industries, Inc		868
	178,995		Raytheon Co		35,117
	16,634	*	RBC Bearings, Inc		2,760
	25,203		Regal-Beloit Corp		1,836
	82,950	*	Resideo Technologies, Inc		1,190
	8,757	e	REV Group, Inc		100
	75,228	*	Rexnord Corp		2,035
	74,913		Rockwell Automation, Inc		12,346
	64,991		Roper Industries, Inc		23,176
	21,510		Rush Enterprises, Inc (Class A)		830
	4,597		Rush Enterprises, Inc (Class B)		184
	100,062	*	Sensata Technologies Holding plc		5,009
	29,530		Simpson Manufacturing Co, Inc		2,049
	24,415	*,e	SiteOne Landscape Supply, Inc		1,807
	34,435		Snap-On, Inc		5,390
	66,489		Spirit Aerosystems Holdings, Inc (Class A)		5,468
	30,406	*	SPX Corp		1,217
	29,148	*	SPX FLOW, Inc		1,150
	8,333		Standex International Corp		608
	94,914		Stanley Black & Decker, Inc		13,707
	18,886	*	Sterling Construction Co, Inc		248
	60,603	*,e	Sunrun, Inc		1,012

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	22,563	*	Teledyne Technologies, Inc	$	7,265
	12,744		Tennant Co		901
	35,787		Terex Corp		929
	18,852	*	Textainer Group Holdings Ltd		187
	143,403		Textron, Inc		7,021
	24,419	*	Thermon Group Holdings		561
	37,983		Timken Co		1,653
	33,155		Titan International, Inc		90
	11,613	*	Titan Machinery, Inc		167
	65,756		Toro Co		4,820
	7,431	*	TPI Composites, Inc		139
	31,351		TransDigm Group, Inc		16,324
	40,670	*	Trex Co, Inc		3,698
	34,233	*	Trimas Corp		1,049
	92,156		Trinity Industries, Inc		1,814
	30,588		Triton International Ltd		1,035
	32,779		Triumph Group, Inc		750
	27,269	*,e	Tutor Perini Corp		391
	6,567	*,e	Twin Disc, Inc		70
	49,764	*	United Rentals, Inc		6,203
	521,781		United Technologies Corp		71,234
	79,847	*,e	Univar, Inc		1,658
	44,298		Universal Forest Products, Inc		1,767
	10,628		Valmont Industries, Inc		1,471
	7,860	*	Vectrus, Inc		320
	7,828	*	Veritiv Corp		142
	12,845	*	Vicor Corp		379
	15,334	*,e	Vivint Solar, Inc		100
	29,246		W.W. Grainger, Inc		8,690
	42,603		Wabash National Corp		618
	31,460	*	WABCO Holdings, Inc		4,208
	115,379	e	Wabtec Corp		8,291
	21,705		Watsco, Inc		3,672
	18,825		Watts Water Technologies, Inc (Class A)		1,764
	88,290	*	Welbilt, Inc		1,489
	39,330	*	Wesco Aircraft Holdings, Inc		433
	24,346	*	WESCO International, Inc		1,163
	3,392	*	Willis Lease Finance Corp		188
	22,097	*	Willscot Corp		344
	35,736		Woodward Governor Co		3,853
	114,079		Xylem, Inc		9,083
			TOTAL CAPITAL GOODS		1,326,484
COMMERCIAL & PROFESSIONAL SERVICES - 1.2%
	40,285		ABM Industries, Inc		1,463
	37,820	*	Acacia Research (Acacia Technologies)		101
	77,675		ACCO Brands Corp		767
	5,238	e	ADT, Inc		33
	31,552	*	Advanced Disposal Services, Inc		1,028
	5,145		Barrett Business Services, Inc		457
	4,266		BG Staffing, Inc		82
	33,472		Brady Corp (Class A)		1,776
	16,522	*	BrightView Holdings, Inc		283

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	33,001		Brink’s Co	$	2,737
	29,675	*	Casella Waste Systems, Inc (Class A)		1,274
	35,493	*	CBIZ, Inc		834
	18,496	*	Ceco Environmental Corp		129
	14,958	*	Cimpress NV		1,972
	55,082		Cintas Corp		14,768
	38,542	*	Clean Harbors, Inc		2,975
	127,578	*	Copart, Inc		10,248
	23,688	*	CoStar Group, Inc		14,052
	84,474		Covanta Holding Corp		1,461
	7,013		CRA International, Inc		294
	27,694		Deluxe Corp		1,361
	20,052		Ennis, Inc		405
	76,115		Equifax, Inc		10,707
	36,012		Exponent, Inc		2,517
	7,582	*	Forrester Research, Inc		244
	7,620	*	Franklin Covey Co		267
	25,416	*	FTI Consulting, Inc		2,694
	9,864	*	GP Strategies Corp		127
	49,914	e	Healthcare Services Group		1,212
	14,300		Heidrick & Struggles International, Inc		390
	8,893	*	Heritage-Crystal Clean, Inc		236
	28,968		Herman Miller, Inc		1,335
	31,637		HNI Corp		1,123
	15,850	*	Huron Consulting Group, Inc		972
	88,200	*	IAA, Inc		3,681
	13,124		ICF International, Inc		1,109
	248,482	*	IHS Markit Ltd		16,619
	32,837	*	Innerworkings, Inc		146
	25,976		Insperity, Inc		2,562
	44,581		Interface, Inc		644
	88,200	e	KAR Auction Services, Inc		2,165
	20,372		Kelly Services, Inc (Class A)		493
	18,302		Kforce, Inc		692
	25,171		Kimball International, Inc (Class B)		486
	35,963		Knoll, Inc		912
	37,013		Korn/Ferry International		1,430
	37,706		Manpower, Inc		3,176
	22,585	e	Matthews International Corp (Class A)		799
	17,061		McGrath RentCorp		1,187
	13,300	*	Mistras Group, Inc		218
	31,645		Mobile Mini, Inc		1,166
	24,011		MSA Safety, Inc		2,620
	33,798		Navigant Consulting, Inc		945
	219,281		Nielsen NV		4,660
	4,961	*	NL Industries, Inc		19
	36,708	*	On Assignment, Inc		2,307
	133,127		Pitney Bowes, Inc		608
	21,796		Quad Graphics, Inc		229
	134,904		Republic Services, Inc		11,676
	20,546		Resources Connection, Inc		349
	79,304		Robert Half International, Inc		4,414
	85,209		Rollins, Inc		2,903
	51,083		RR Donnelley & Sons Co		193

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	12,140	*	SP Plus Corp	$	449
	61,807		Steelcase, Inc (Class A)		1,137
	49,051	*,e	Stericycle, Inc		2,498
	9,938		Systemax, Inc		219
	20,907	*,e	Team, Inc		377
	41,281		Tetra Tech, Inc		3,582
	115,960		TransUnion		9,406
	22,121	*	TriNet Group, Inc		1,376
	30,958	*	TrueBlue, Inc		653
	11,006		Unifirst Corp		2,148
	8,321	*	Upwork, Inc		111
	16,280		US Ecology, Inc		1,041
	100,478		Verisk Analytics, Inc		15,890
	15,178		Viad Corp		1,019
	5,586		VSE Corp		190
	271,252		Waste Management, Inc		31,194
	5,398	*	Willdan Group, Inc		189
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		220,211
CONSUMER DURABLES & APPAREL - 1.4%
	15,286	e	Acushnet Holdings Corp		404
	39,523	*	American Outdoor Brands Corp		231
	7,681		Bassett Furniture Industries, Inc		118
	21,459	*	Beazer Homes USA, Inc		320
	54,098		Brunswick Corp		2,820
	69,841		Callaway Golf Co		1,356
	90,698	*	Capri Holdings Ltd		3,008
	27,877		Carter’s, Inc		2,543
	6,102	*	Cavco Industries, Inc		1,172
	13,611	*	Century Communities, Inc		417
	14,228		Clarus Corp		167
	13,474		Columbia Sportswear Co		1,306
	45,716	*	CROCS, Inc		1,269
	6,895		Culp, Inc		112
	19,292	*	Deckers Outdoor Corp		2,843
	210,614		DR Horton, Inc		11,101
	7,865		Escalade, Inc		86
	18,783	e	Ethan Allen Interiors, Inc		359
	5,531		Flexsteel Industries, Inc		82
	31,215	*,e	Fossil Group, Inc		391
	87,558		Garmin Ltd		7,415
	30,360	*	G-III Apparel Group Ltd		782
	74,136	*,e	GoPro, Inc		384
	16,535	*	Green Brick Partners, Inc		177
	6,360		Hamilton Beach Brands Holding Co		103
	244,655		Hanesbrands, Inc		3,748
	74,516		Hasbro, Inc		8,844
	15,207	*	Helen of Troy Ltd		2,398
	7,913		Hooker Furniture Corp		170
	13,822	*	Installed Building Products, Inc		793
	18,443	*,e	iRobot Corp		1,137
	3,583		Johnson Outdoors, Inc		210
	60,650		KB Home		2,062

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	30,075	e	Kontoor Brands, Inc	$	1,056
	36,137		La-Z-Boy, Inc		1,214
	94,275		Leggett & Platt, Inc		3,860
	11,279		Lennar Corp (B Shares)		500
	170,462		Lennar Corp (Class A)		9,520
	12,635	*,e	LGI Homes, Inc		1,053
	7,210		Lifetime Brands, Inc		64
	76,705	*	Lululemon Athletica, Inc		14,768
	16,714	*	M/I Homes, Inc		629
	13,092	*	Malibu Boats, Inc		402
	8,407		Marine Products Corp		119
	13,690	*	MasterCraft Boat Holdings, Inc		204
	246,470	*,e	Mattel, Inc		2,807
	32,691		MDC Holdings, Inc		1,409
	26,198	*	Meritage Homes Corp		1,843
	37,671	*	Mohawk Industries, Inc		4,674
	11,320		Movado Group, Inc		281
	3,180		Nacco Industries, Inc (Class A)		203
	241,949		Newell Rubbermaid, Inc		4,529
	788,128		Nike, Inc (Class B)		74,021
	2,226	*	NVR, Inc		8,275
	11,750	e	Oxford Industries, Inc		843
	38,838		Polaris Industries, Inc		3,418
	157,608		Pulte Homes, Inc		5,761
	47,687		PVH Corp		4,207
	35,853		Ralph Lauren Corp		3,423
	53,205	*,e	Roku, Inc		5,414
	79,579	*	Skechers U.S.A., Inc (Class A)		2,972
	32,514		Skyline Corp		978
	45,047	*	Sonos, Inc		604
	60,523		Steven Madden Ltd		2,166
	12,383		Sturm Ruger & Co, Inc		517
	5,163		Superior Uniform Group, Inc		83
	191,265		Tapestry, Inc		4,982
	79,194	*	Taylor Morrison Home Corp		2,054
	33,646	*	Tempur Sealy International, Inc		2,597
	80,868		Toll Brothers, Inc		3,320
	26,487	*	TopBuild Corp		2,554
	102,085	*	TRI Pointe Homes, Inc		1,535
	28,980		Tupperware Corp		460
	110,698	*	Under Armour, Inc (Class A)		2,207
	110,542	*	Under Armour, Inc (Class C)		2,004
	10,905	*	Unifi, Inc		239
	10,485	*	Universal Electronics, Inc		534
	16,444	*,e	Vera Bradley, Inc		166
	193,170		VF Corp		17,190
	41,550	*	Vista Outdoor, Inc		257
	41,162		Whirlpool Corp		6,518
	17,713	*	William Lyon Homes, Inc		361
	67,978		Wolverine World Wide, Inc		1,921
	11,211	*,e	YETI Holdings, Inc		314
	21,026	*,e	Zagg, Inc		132
			TOTAL CONSUMER DURABLES & APPAREL		269,490

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
CONSUMER SERVICES - 2.4%
	33,727	*	Adtalem Global Education, Inc	$	1,285
	12,233	*	American Public Education, Inc		273
	143,934		ARAMARK Holdings Corp		6,273
	44,487		BBX Capital Corp		208
	769	*	Biglari Holdings, Inc (B Shares)		84
	15,173	e	BJ’s Restaurants, Inc		589
	44,145		Bloomin’ Brands, Inc		836
	61,116		Boyd Gaming Corp		1,464
	36,213	*	Bright Horizons Family Solutions		5,522
	25,489	e	Brinker International, Inc		1,088
	404,805	*,e	Caesars Entertainment Corp		4,720
	46,334	*	Career Education Corp		736
	245,361		Carnival Corp		10,725
	11,838		Carriage Services, Inc		242
	27,792	*	Carrols Restaurant Group, Inc		230
	16,727	*	Century Casinos, Inc		129
	31,824	e	Cheesecake Factory		1,326
	60,816	*	Chegg, Inc		1,821
	16,294	*	Chipotle Mexican Grill, Inc (Class A)		13,695
	17,380		Choice Hotels International, Inc		1,546
	23,949		Churchill Downs, Inc		2,957
	12,474	*	Chuy’s Holdings, Inc		309
	9,516	e	Cracker Barrel Old Country Store, Inc		1,548
	78,161		Darden Restaurants, Inc		9,240
	30,312		Dave & Buster’s Entertainment, Inc		1,181
	23,487	*	Del Taco Restaurants, Inc		240
	41,277	*	Denny’s Corp		940
	10,362		Dine Brands Global Inc.		786
	26,483		Domino’s Pizza, Inc		6,477
	43,999	*	Drive Shack, Inc		190
	49,730		Dunkin Brands Group, Inc		3,947
	14,501	*	El Pollo Loco Holdings, Inc		159
	44,594	*,e	Eldorado Resorts, Inc		1,778
	2,242	*,e	Empire Resorts, Inc		22
	117,907		Extended Stay America, Inc		1,726
	20,469	*	Fiesta Restaurant Group, Inc		213
	54,509	*	frontdoor, Inc		2,647
	7,389	*	Golden Entertainment, Inc		98
	2,783		Graham Holdings Co		1,846
	32,189	*	Grand Canyon Education, Inc		3,161
	129,519		H&R Block, Inc		3,059
	14,706	*	Habit Restaurants, Inc		129
	65,914	*	Hilton Grand Vacations, Inc		2,109
	180,599		Hilton Worldwide Holdings, Inc		16,816
	76,812	*	Houghton Mifflin Harcourt Co		409
	24,452		Hyatt Hotels Corp		1,801
	76,027	e	International Game Technology plc		1,080
	18,045		International Speedway Corp (Class A)		812
	10,324	*	J Alexander’s Holdings, Inc		121
	14,716		Jack in the Box, Inc		1,341
	26,055	*	K12, Inc		688
	221,443		Las Vegas Sands Corp		12,791

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	62,559	*	Laureate Education, Inc	$	1,037
	10,890	*	Lindblad Expeditions Holdings, Inc		183
	180,454		Marriott International, Inc (Class A)		22,443
	28,647	e	Marriott Vacations Worldwide Corp		2,968
	492,555		McDonald’s Corp		105,757
	326,708		MGM Resorts International		9,056
	7,140	*	Monarch Casino & Resort, Inc		298
	2,378		Nathan’s Famous, Inc		171
	8,091	*	Noodles & Co		46
	135,741	*	Norwegian Cruise Line Holdings Ltd		7,027
	29,338	*,e	OneSpaWorld Holdings Ltd		456
	18,811	e	Papa John’s International, Inc		985
	76,441	*,e	Penn National Gaming, Inc		1,424
	60,595	*	Planet Fitness, Inc		3,507
	10,854	*	PlayAGS, Inc		112
	16,455	*,e	Potbelly Corp		72
	6,547		RCI Hospitality Holdings, Inc		135
	11,433	*	Red Lion Hotels Corp		74
	9,211	*	Red Robin Gourmet Burgers, Inc		306
	48,687		Red Rock Resorts, Inc		989
	27,109	*	Regis Corp		548
	106,238		Royal Caribbean Cruises Ltd		11,509
	21,790		Ruth’s Chris Steak House, Inc		445
	37,197	*,e	Scientific Games Corp (Class A)		757
	30,308	*	SeaWorld Entertainment, Inc		798
	108,167		Service Corp International		5,171
	86,396	*	ServiceMaster Global Holdings, Inc		4,830
	15,620	*	Shake Shack, Inc		1,531
	48,601		Six Flags Entertainment Corp		2,468
	27,603	*,e	Sotheby’s (Class A)		1,573
	775,010		Starbucks Corp		68,526
	15,126		Strategic Education, Inc		2,055
	21,327	*,e	Target Hospitality Corp		145
	48,860		Texas Roadhouse, Inc (Class A)		2,566
	13,497	e	Twin River Worldwide Holdings Inc		308
	26,170		Vail Resorts, Inc		5,955
	134,006		Wendy’s		2,677
	21,048		Wingstop, Inc		1,837
	26,120	*	WW International Inc		988
	55,993		Wyndham Destinations, Inc		2,577
	68,964		Wyndham Hotels & Resorts, Inc		3,568
	63,559		Wynn Resorts Ltd		6,910
	236,930		Yum China Holdings, Inc		10,764
	195,815		Yum! Brands, Inc		22,211
			TOTAL CONSUMER SERVICES		451,176
DIVERSIFIED FINANCIALS - 3.6%
	31,723		Affiliated Managers Group, Inc		2,644
	21,134		AG Mortgage Investment Trust		320
	341,429		AGNC Investment Corp		5,494
	252,030		Ally Financial, Inc		8,357
	435,939		American Express Co		51,563
	81,898		Ameriprise Financial, Inc		12,047
	885,022		Annaly Capital Management, Inc		7,788

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	70,479		Anworth Mortgage Asset Corp	$	233
	98,572	e	Apollo Commercial Real Estate Finance, Inc		1,890
	22,112		Ares Commercial Real Estate Corp		337
	41,515		Ares Management Corp		1,113
	16,506	e	Arlington Asset Investment Corp (Class A)		91
	26,163	*,e	ARMOUR Residential REIT, Inc		438
	32,135		Artisan Partners Asset Management, Inc		907
	8,796	*	Assetmark Financial Holdings, Inc		229
	4,316		Associated Capital Group, Inc		154
	181,952		AXA Equitable Holdings, Inc		4,032
	10,240		B. Riley Financial, Inc		242
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		428
	541,613		Bank of New York Mellon Corp		24,486
	166,153		BGC Partners, Inc (Class A)		914
	75,764		BlackRock, Inc		33,763
	73,790	e	Blackstone Mortgage Trust, Inc		2,645
	30,473	*	Blucora, Inc		659
	40,173		Brightsphere Investment Group, Inc		398
	48,331	*	Cannae Holdings, Inc		1,328
	299,330		Capital One Financial Corp		27,233
	71,072		Capstead Mortgage Corp		522
	74,260		CBOE Global Markets, Inc		8,533
	753,614		Charles Schwab Corp		31,524
	7,318	e	Cherry Hill Mortgage Investment Corp		96
	94,757		Chimera Investment Corp		1,853
	228,674		CME Group, Inc		48,328
	15,440	e	Cohen & Steers, Inc		848
	56,629		Colony Credit Real Estate, Inc		819
	18,127	*	Cowen Group, Inc		279
	6,914	*	Credit Acceptance Corp		3,189
	7,834	*,e	Curo Group Holdings Corp		104
	2,179		Diamond Hill Investment Group, Inc		301
	200,944		Discover Financial Services		16,295
	19,156	*	Donnelley Financial Solutions, Inc		236
	11,107	e	Dynex Capital, Inc		164
	156,075		E*TRADE Financial Corp		6,819
	78,977		Eaton Vance Corp		3,548
	11,344	*	Elevate Credit, Inc		48
	17,423		Ellington Financial Inc		315
	17,368	*,e	Encore Capital Group, Inc		579
	23,911	*	Enova International, Inc		496
	29,096		Evercore Partners, Inc (Class A)		2,331
	22,197		Exantas Capital Corp		252
	38,445	*,e	Ezcorp, Inc (Class A)		248
	24,832	e	Factset Research Systems, Inc		6,033
	68,886		Federated Investors, Inc (Class B)		2,233
	26,518		FGL Holdings		212
	30,190		FirstCash, Inc		2,768
	12,579	*	Focus Financial Partners, Inc		299
	181,317		Franklin Resources, Inc		5,233
	23,847	e	Gain Capital Holdings, Inc		126
	4,049		GAMCO Investors, Inc (Class A)		79
	208,173		Goldman Sachs Group, Inc		43,140

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	31,227		Granite Point Mortgage Trust, Inc	$	585
	8,938		Great Ajax Corp		139
	33,057	*	Green Dot Corp		835
	19,893	e	Greenhill & Co, Inc		261
	10,099		Hamilton Lane, Inc		575
	15,460		Houlihan Lokey, Inc		697
	47,028		Interactive Brokers Group, Inc (Class A)		2,529
	358,754		IntercontinentalExchange Group, Inc		33,102
	11,369	*,e	INTL FCStone, Inc		467
	270,619		Invesco Ltd		4,584
	91,773		Invesco Mortgage Capital, Inc		1,405
	106,298		Janus Henderson Group plc		2,387
	181,956		Jefferies Financial Group, Inc		3,348
	7,773		KKR Real Estate Finance Trust, Inc		152
	49,932		Ladder Capital Corp		862
	73,441		Ladenburg Thalmann Financial Services, Inc		174
	76,930		Lazard Ltd (Class A)		2,693
	62,850		Legg Mason, Inc		2,400
	42,896	*	LendingClub Corp		561
	55,907		LPL Financial Holdings, Inc		4,579
	23,522		MarketAxess Holdings, Inc		7,703
	6,533		Marlin Business Services Corp		165
	270,747		MFA Mortgage Investments, Inc		1,993
	26,390		Moelis & Co		867
	106,671		Moody’s Corp		21,849
	766,528		Morgan Stanley		32,708
	13,834		Morningstar, Inc		2,022
	54,542		MSCI, Inc (Class A)		11,877
	76,744		NASDAQ OMX Group, Inc		7,625
	166,451		Navient Corp		2,131
	14,990		Nelnet, Inc (Class A)		953
	231,837		New Residential Investment Corp		3,635
	75,449		New York Mortgage Trust, Inc		459
	22,218	*,†	NewStar Financial, Inc		5
	132,839		Northern Trust Corp		12,397
	36,046	*	On Deck Capital, Inc		121
	37,084		OneMain Holdings, Inc		1,360
	7,363		Oppenheimer Holdings, Inc		221
	23,694	e	Orchid Island Capital, Inc		136
	47,765		PennyMac Mortgage Investment Trust		1,062
	17,372		Pico Holdings, Inc		175
	10,272		Piper Jaffray Cos		775
	13,025		PJT Partners, Inc		530
	33,753	*	PRA Group, Inc		1,141
	9,591		Pzena Investment Management, Inc (Class A)		86
	79,529		Raymond James Financial, Inc		6,558
	10,497		Ready Capital Corp		167
	49,700		Redwood Trust, Inc		816
	8,577	*	Regional Management Corp		242
	160,322		S&P Global, Inc		39,276
	16,951	*	Safeguard Scientifics, Inc		192
	57,054		Santander Consumer USA Holdings, Inc		1,455
	10,879		Sculptor Capital Management, Inc		212
	87,401		SEI Investments Co		5,179

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	5,338		Silvercrest Asset Management Group, Inc	$	66
	258,465		SLM Corp		2,281
	153,692		Starwood Property Trust, Inc		3,722
	236,680		State Street Corp		14,009
	47,909		Stifel Financial Corp		2,749
	431,448		Synchrony Financial		14,708
	148,313		T Rowe Price Group, Inc		16,945
	181,531		TD Ameritrade Holding Corp		8,477
	7,897		TPG RE Finance Trust, Inc		157
	174,270		Two Harbors Investment Corp		2,288
	18,355	e	Virtu Financial, Inc		300
	4,800		Virtus Investment Partners, Inc		531
	92,465		Voya Financial, Inc		5,034
	58,496	e	Waddell & Reed Financial, Inc (Class A)		1,005
	28,538		Western Asset Mortgage Capital Corp		275
	5,409		Westwood Holdings Group, Inc		150
	84,317		WisdomTree Investments, Inc		441
	4,248	*	World Acceptance Corp		542
			TOTAL DIVERSIFIED FINANCIALS		679,691
ENERGY - 4.2%
	109,725	*	Abraxas Petroleum Corp		56
	7,181		Amplify Energy Corp		44
	146,439	e	Antero Midstream Corp		1,084
	132,421	*	Antero Resources Corp		400
	260,509		Apache Corp		6,669
	52,623	*	Apergy Corp		1,423
	9,586	e	Arch Coal, Inc		711
	85,865		Archrock, Inc		856
	20,832	*	Ardmore Shipping Corp		139
	408,098		Baker Hughes a GE Co		9,468
	36,376		Berry Petroleum Co LLC		340
	14,562	*	Bonanza Creek Energy, Inc		326
	10,396		Brigham Minerals, Inc		207
	33,520	*	C&J Energy Services, Inc		360
	261,574		Cabot Oil & Gas Corp		4,596
	16,011	*	Cactus, Inc		463
	30,573	*,e	California Resources Corp		312
	145,414	*,e	Callon Petroleum Co		631
	45,074	*	Carrizo Oil & Gas, Inc		387
	124,454	*	Centennial Resource Development, Inc		562
	146,135	*	Cheniere Energy, Inc		9,215
	550,015	*,e	Chesapeake Energy Corp		776
	1,227,095		Chevron Corp		145,534
	64,851		Cimarex Energy Co		3,109
	96,211	*	Clean Energy Fuels Corp		199
	128,347	*,e	CNX Resources Corp		932
	128,934		Concho Resources, Inc		8,755
	719,558		ConocoPhillips		41,000
	20,666	*	CONSOL Energy, Inc		323
	64,271	*	Continental Resources, Inc		1,979
	12,254	*,e	Contura Energy Inc		343
	22,043	*,e	Covia Holdings Corp		45

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	11,149		CVR Energy, Inc	$	491
	56,457		Delek US Holdings, Inc		2,049
	280,409	*,e	Denbury Resources, Inc		334
	269,019		Devon Energy Corp		6,473
	55,111		DHT Holdings, Inc		339
	38,317	*,e	Diamond Offshore Drilling, Inc		213
	100,845		Diamondback Energy, Inc		9,067
	9,586	e	DMC Global, Inc		422
	20,589	*	Dorian LPG Ltd		213
	27,635	*	Dril-Quip, Inc		1,387
	7,121	*	Earthstone Energy, Inc		23
	56,201	*,e	Energy Fuels, Inc		108
	371,998		EOG Resources, Inc		27,610
	153,612		EQT Corp		1,634
	144,519		Equitrans Midstream Corp		2,103
	14,364	*	Era Group, Inc		152
	17,517		Evolution Petroleum Corp		102
	23,313	*	Exterran Corp		304
	87,596	*,e	Extraction Oil & Gas, Inc		258
	2,724,760	d	Exxon Mobil Corp		192,395
	24,885	e	Falcon Minerals Corp		143
	49,153	*	Forum Energy Technologies, Inc		76
	36,662	*	Frank’s International NV		174
	15,611	*	FTS International, Inc		35
	32,033	e	GasLog Ltd		412
	69,477		Golar LNG Ltd		902
	26,945		Green Plains Renewable Energy, Inc		285
	109,431	*	Gulfport Energy Corp		297
	10,340		Hallador Energy Co		37
	565,966		Halliburton Co		10,668
	100,808	*	Helix Energy Solutions Group, Inc		813
	67,802		Helmerich & Payne, Inc		2,717
	180,836		Hess Corp		10,937
	21,135	*,e	HighPoint Resources Corp		34
	97,848		HollyFrontier Corp		5,249
	23,510	*	Independence Contract Drilling, Inc		28
	20,967	*	International Seaways, Inc		404
	823	*	Isramco, Inc		101
	22,747	*,e	Jagged Peak Energy, Inc		165
	22,628	*,e	Keane Group, Inc		137
	1,234,865		Kinder Morgan, Inc		25,451
	11,654	*	KLX Energy Services Holdings, Inc		101
	234,852		Kosmos Energy Ltd		1,465
	117,588	*	Laredo Petroleum Holdings, Inc		283
	9,873	e	Liberty Oilfield Services, Inc		107
	65,268	*,e	Magnolia Oil & Gas Corp		724
	5,616		Mammoth Energy Services, Inc		14
	550,921		Marathon Oil Corp		6,760
	427,163		Marathon Petroleum Corp		25,950
	64,577	*,e	Matador Resources Co		1,067
	19,934	*	Matrix Service Co		342
	4,077	*,e	Montage Resources Corp		15
	114,242	e	Murphy Oil Corp		2,526
	203,104		Nabors Industries Ltd		380

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	256,371		National Oilwell Varco, Inc	$	5,435
	9,713	*	Natural Gas Services Group, Inc		124
	63,344	*	Newpark Resources, Inc		483
	5,415	*,e	Nine Energy Service, Inc		33
	165,932	*,e	Noble Corp plc		211
	304,480		Noble Energy, Inc		6,839
	68,002	e	Nordic American Tanker Shipping		147
	73,198	*,e	Northern Oil And Gas, Inc		143
	170,623	*	Oasis Petroleum, Inc		590
	587,783		Occidental Petroleum Corp		26,139
	71,446	*	Oceaneering International, Inc		968
	38,178	*	Oil States International, Inc		508
	270,781		ONEOK, Inc		19,954
	26,237	*	Overseas Shipholding Group, Inc		46
	19,282	*,e	Pacific Drilling SA		75
	10,734		Panhandle Oil and Gas, Inc (Class A)		150
	23,180	*	Par Pacific Holdings, Inc		530
	167,421		Parsley Energy, Inc		2,813
	150,779		Patterson-UTI Energy, Inc		1,289
	78,916		PBF Energy, Inc		2,146
	47,717	*	PDC Energy, Inc		1,324
	54,624		Peabody Energy Corp		804
	10,090	*	Penn Virginia Corp		293
	289,343		Phillips 66		29,629
	108,107		Pioneer Natural Resources Co		13,597
	48,018	*	ProPetro Holding Corp		436
	173,948		Questar Market Resources, Inc		644
	139,657	e	Range Resources Corp		533
	27,182	*,e	Renewable Energy Group, Inc		408
	4,186	*	Rex American Resources Corp		320
	9,601	*	RigNet, Inc		74
	32,471	*	Ring Energy, Inc		53
	42,512	e	RPC, Inc		238
	24,071	*	SandRidge Energy, Inc		113
	891,155		Schlumberger Ltd		30,451
	12,175		Scorpio Tankers, Inc		362
	11,768	*	SEACOR Holdings, Inc		554
	11,831	*	SEACOR Marine Holdings, Inc		149
	6,869	*	Select Energy Services, Inc		59
	48,551		SemGroup Corp		793
	45,041	e	Ship Finance International Ltd		632
	4,694	*,e	SilverBow Resources, Inc		45
	80,594		SM Energy Co		781
	12,316	*,e	Smart Sand, Inc		35
	6,855	e	Solaris Oilfield Infrastructure, Inc		92
	264,381	*,e	Southwestern Energy Co		510
	143,792	*	SRC Energy, Inc		670
	13,911	*	Talos Energy, Inc		283
	141,390		Targa Resources Investments, Inc		5,680
	36,192	e	Teekay Corp		145
	85,424		Teekay Tankers Ltd (Class A)		111
	39,279	*,e	Tellurian, Inc		327
	32,701	*	Tetra Technologies, Inc		66

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	16,234	*	Tidewater, Inc	$	245
	343,005	*,e	Transocean Ltd (NYSE)		1,533
	36,980	*	Unit Corp		125
	95,169	*,e	Uranium Energy Corp		93
	58,687	e	US Silica Holdings, Inc		561
	267,287		Valero Energy Corp		22,784
	14,396	*	W&T Offshore, Inc		63
	65,205	*,e	Whiting Petroleum Corp		524
	779,453		Williams Cos, Inc		18,754
	49,281		World Fuel Services Corp		1,968
	284,313	*	WPX Energy, Inc		3,011
			TOTAL ENERGY		794,215
FOOD & STAPLES RETAILING - 1.4%
	19,849		Andersons, Inc		445
	22,168		Casey’s General Stores, Inc		3,573
	14,374	*	Chefs’ Warehouse Holdings, Inc		580
	282,153		Costco Wholesale Corp		81,291
	10,217		Ingles Markets, Inc (Class A)		397
	511,913		Kroger Co		13,197
	6,410	*	Natural Grocers by Vitamin C		64
	70,016	*	Performance Food Group Co		3,221
	14,866		Pricesmart, Inc		1,057
	38,176	*,e	Rite Aid Corp		265
	27,344		Spartan Stores, Inc		324
	72,919	*	Sprouts Farmers Market, Inc		1,410
	302,506		Sysco Corp		24,019
	36,929	*	United Natural Foods, Inc		425
	129,589	*	US Foods Holding Corp		5,326
	4,843		Village Super Market (Class A)		128
	491,520		Walgreens Boots Alliance, Inc		27,186
	900,162		Walmart, Inc		106,831
	4,684		Weis Markets, Inc		179
			TOTAL FOOD & STAPLES RETAILING		269,918
FOOD, BEVERAGE & TOBACCO - 3.5%
	78,794	*,e	22nd Century Group, Inc		178
	2,296		Alico, Inc		78
	1,205,629		Altria Group, Inc		49,310
	356,749		Archer Daniels Midland Co		14,652
	48,393	e	B&G Foods, Inc (Class A)		915
	6,271	*,e	Beyond Meat, Inc		932
	5,887	*	Boston Beer Co, Inc (Class A)		2,143
	29,231		Brown-Forman Corp (Class A)		1,747
	111,708		Brown-Forman Corp (Class B)		7,013
	92,994		Bunge Ltd		5,265
	11,455	e	Calavo Growers, Inc		1,090
	22,629		Cal-Maine Foods, Inc		904
	99,585	e	Campbell Soup Co		4,673
	3,092		Coca-Cola Bottling Co Consolidated		940
	2,462,152		Coca-Cola Co		134,040
	310,765		ConAgra Brands, Inc		9,534
	101,370		Constellation Brands, Inc (Class A)		21,012
	7,653	*	Craft Brewers Alliance, Inc		63

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	118,243	*	Darling International, Inc	$	2,262
	65,223	e	Dean Foods Co		76
	5,320	*	Farmer Bros Co		69
	103,413		Flowers Foods, Inc		2,392
	20,613		Fresh Del Monte Produce, Inc		703
	15,781	*	Freshpet, Inc		785
	383,462		General Mills, Inc		21,136
	73,323	*,e	Hain Celestial Group, Inc		1,575
	90,196		Hershey Co		13,979
	177,534	e	Hormel Foods Corp		7,764
	57,996	*	Hostess Brands, Inc		811
	40,912		Ingredion, Inc		3,344
	10,369	e	J&J Snack Foods Corp		1,991
	68,388		J.M. Smucker Co		7,524
	5,780		John B. Sanfilippo & Son, Inc		558
	160,382		Kellogg Co		10,321
	119,054		Keurig Dr Pepper, Inc		3,253
	387,412		Kraft Heinz Co		10,822
	92,646		Lamb Weston Holdings, Inc		6,737
	13,060		Lancaster Colony Corp		1,811
	19,323	*	Landec Corp		210
	8,386		Limoneira Co		154
	77,671		McCormick & Co, Inc		12,140
	9,193	e	MGP Ingredients, Inc		457
	109,880		Molson Coors Brewing Co (Class B)		6,318
	908,546		Mondelez International, Inc		50,261
	247,493	*	Monster Beverage Corp		14,369
	8,574	e	National Beverage Corp		380
	46,743	*,e	New Age Beverages Corp		129
	899,093		PepsiCo, Inc		123,266
	1,003,067		Philip Morris International, Inc		76,163
	34,513	*	Pilgrim’s Pride Corp		1,106
	40,868	*	Post Holdings, Inc		4,325
	18,742	*,e	Primo Water Corp		230
	14,731		Sanderson Farms, Inc		2,229
	192		Seaboard Corp		840
	5,451	*	Seneca Foods Corp		170
	40,880	*	Simply Good Foods Co		1,185
	11,308	e	Tootsie Roll Industries, Inc		420
	40,066	*	TreeHouse Foods, Inc		2,222
	4,760	e	Turning Point Brands, Inc		110
	183,180		Tyson Foods, Inc (Class A)		15,779
	17,023		Universal Corp		933
	53,132	e	Vector Group Ltd		633
			TOTAL FOOD, BEVERAGE & TOBACCO		666,431
HEALTH CARE EQUIPMENT & SERVICES - 6.1%
	1,111,178		Abbott Laboratories		92,972
	28,689	*	Abiomed, Inc		5,103
	56,824	*,e	Acadia Healthcare Co, Inc		1,766
	58,290	*	Accuray, Inc		161
	5,501	*	Addus HomeCare Corp		436
	52,525	*	Align Technology, Inc		9,503

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	133,589	*	Allscripts Healthcare Solutions, Inc	$	1,467
	15,919	*	Amedisys, Inc		2,086
	6,596	*,e	American Renal Associates Holdings, Inc		42
	101,878		AmerisourceBergen Corp		8,388
	31,962	*	AMN Healthcare Services, Inc		1,840
	26,107	*	Angiodynamics, Inc		481
	104,354	*,e	Antares Pharma, Inc		349
	164,502		Anthem, Inc		39,497
	16,786	*,e	Apollo Medical Holdings, Inc		296
	22,609	*	AtriCure, Inc		564
	1,019		Atrion Corp		794
	33,829	*	Avanos Medical, Inc		1,267
	18,090	*	AxoGen, Inc		226
	9,978	*,e	Axonics Modulation Technologies, Inc		269
	313,824		Baxter International, Inc		27,450
	171,819		Becton Dickinson & Co		43,463
	19,708	*	BioTelemetry, Inc		803
	901,739	*	Boston Scientific Corp		36,692
	135,933	*	Brookdale Senior Living, Inc		1,030
	25,974		Cantel Medical Corp		1,943
	198,011		Cardinal Health, Inc		9,344
	23,626	*	Cardiovascular Systems, Inc		1,123
	45,319	*	Castlight Health, Inc		64
	268,250	*	Centene Corp		11,604
	210,440		Cerner Corp		14,346
	71,510	*	Cerus Corp		369
	31,126	*	Change Healthcare, Inc		376
	9,197		Chemed Corp		3,840
	240,080		Cigna Corp		36,442
	8,700		Computer Programs & Systems, Inc		197
	19,875		Conmed Corp		1,911
	32,161		Cooper Cos, Inc		9,552
	58,640	*	Corindus Vascular Robotics, Inc		251
	7,512	*	Corvel Corp		569
	39,829	*	Covetrus, Inc		474
	25,224	*	Cross Country Healthcare, Inc		260
	23,064	*	CryoLife, Inc		626
	16,944	*,e	CryoPort, Inc		277
	10,004	*	Cutera, Inc		292
	828,488		CVS Health Corp		52,253
	19,235	*,e	CytoSorbents Corp		97
	411,011		Danaher Corp		59,362
	84,282	*	DaVita, Inc		4,810
	139,354		Dentsply Sirona, Inc		7,429
	56,861	*	DexCom, Inc		8,486
	34,269	*	Diplomat Pharmacy, Inc		168
	135,363	*	Edwards Lifesciences Corp		29,768
	62,923		Encompass Health Corp		3,982
	35,447		Ensign Group, Inc		1,681
	27,058	*	Enzo Biochem, Inc		97
	45,708	*,e	Evolent Health, Inc		329
	28,070	*,e	Genesis Health Care, Inc		31
	30,765	*	GenMark Diagnostics, Inc		186
	20,642	*,e	Glaukos Corp		1,290

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	48,523	*	Globus Medical, Inc	$	2,480
	22,258	*	Guardant Health, Inc		1,421
	36,085	*	Haemonetics Corp		4,552
	23,398	*	Hanger Orthopedic Group, Inc		477
	171,567		HCA Healthcare, Inc		20,660
	35,870	*	HealthEquity, Inc		2,050
	18,780		HealthStream, Inc		486
	100,313	*	Henry Schein, Inc		6,370
	4,605	*,e	Heska Corp		326
	42,299		Hill-Rom Holdings, Inc		4,451
	60,877	*	HMS Holdings Corp		2,098
	172,070	*	Hologic, Inc		8,688
	88,716		Humana, Inc		22,682
	10,885	*,e	ICU Medical, Inc		1,737
	54,608	*	IDEXX Laboratories, Inc		14,850
	12,244	*	Inogen, Inc		587
	43,464	*,e	Inovalon Holdings, Inc		712
	5,311	*	Inspire Medical Systems, Inc		324
	38,127	*	Insulet Corp		6,288
	22,691	*	Integer Holding Corp		1,715
	44,740	*	Integra LifeSciences Holdings Corp		2,688
	4,136	*,e	IntriCon Corp		80
	74,125	*	Intuitive Surgical, Inc		40,022
	23,110	e	Invacare Corp		173
	16,105	*,e	iRhythm Technologies, Inc		1,194
	62,986	*	Laboratory Corp of America Holdings		10,582
	18,233	*	Lantheus Holdings, Inc		457
	9,523		LeMaitre Vascular, Inc		325
	19,826	*	LHC Group, Inc		2,251
	33,006	*	LivaNova plc		2,436
	9,262	*,e	Livongo Health, Inc		162
	16,931	*	Magellan Health Services, Inc		1,051
	32,408	*	Masimo Corp		4,822
	118,857		McKesson Corp		16,243
	40,701	*	Medidata Solutions, Inc		3,724
	43,753	*	MEDNAX, Inc		990
	860,554		Medtronic plc		93,473
	31,965		Meridian Bioscience, Inc		303
	35,220	*	Merit Medical Systems, Inc		1,073
	2,255	e	Mesa Laboratories, Inc		536
	41,890	*	Molina Healthcare, Inc		4,596
	7,753		National Healthcare Corp		635
	5,598		National Research Corp		323
	24,197	*	Natus Medical, Inc		770
	35,733	*,e	Neogen Corp		2,434
	19,942	*	Nevro Corp		1,714
	37,773	*	NextGen Healthcare, Inc		592
	54,721	*	Novocure Ltd		4,092
	36,380	*	NuVasive, Inc		2,306
	26,681	*	Omnicell, Inc		1,928
	86,257	*	Option Care Health, Inc		276
	40,487	*	OraSure Technologies, Inc		302
	12,159	*	Orthofix International NV		645

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	5,177	*,e	OrthoPediatrics Corp	$	183
	43,714		Owens & Minor, Inc		254
	57,408	e	Patterson Cos, Inc		1,023
	21,136	*,e	Penumbra, Inc		2,843
	5,304	*,e	PetIQ, Inc		145
	33,935	*,e	Premier, Inc		981
	8,662	*	Providence Service Corp		515
	6,666	*,e	Pulse Biosciences, Inc		103
	86,772		Quest Diagnostics, Inc		9,287
	20,943	*	Quidel Corp		1,285
	72,154	*	R1 RCM, Inc		644
	25,914	*	RadNet, Inc		372
	93,908		Resmed, Inc		12,688
	37,335	*,e	Rockwell Medical, Inc		103
	38,631	*	RTI Biologics, Inc		110
	77,335	*	Select Medical Holdings Corp		1,281
	45,067	*,e	Senseonics Holdings, Inc		45
	4,272	*,e	Shockwave Medical Inc		128
	10,272	*	SI-BONE, Inc		181
	10,185	*,e	Sientra, Inc		66
	4,496	*	Silk Road Medical Inc		146
	7,680		Simulations Plus, Inc		266
	26,141	*	Staar Surgical Co		674
	54,225		STERIS plc		7,835
	219,031		Stryker Corp		47,376
	13,353	*,e	Surgery Partners, Inc		99
	10,275	*	SurModics, Inc		470
	6,560	*,e	Tabula Rasa HealthCare, Inc		360
	6,719	*,e	Tactile Systems Technology, Inc		284
	30,224	*	Tandem Diabetes Care, Inc		1,783
	38,788	*,e	Teladoc, Inc		2,627
	29,977		Teleflex, Inc		10,185
	59,665	*,e	Tenet Healthcare Corp		1,320
	30,967	*,e	Tivity Health, Inc		515
	105,717	*,e	TransEnterix, Inc		66
	18,960	*,e	Triple-S Management Corp (Class B)		254
	607,161		UnitedHealth Group, Inc		131,948
	53,322		Universal Health Services, Inc (Class B)		7,932
	9,158		US Physical Therapy, Inc		1,196
	2,349		Utah Medical Products, Inc		225
	27,229	*	Varex Imaging Corp		777
	56,947	*	Varian Medical Systems, Inc		6,782
	81,875	*	Veeva Systems, Inc		12,501
	19,827	*,e	ViewRay, Inc		57
	20,093	*,e	Vocera Communications, Inc		495
	31,751	*	WellCare Health Plans, Inc		8,229
	47,210		West Pharmaceutical Services, Inc		6,695
	76,096	*	Wright Medical Group NV		1,570
	131,297		Zimmer Biomet Holdings, Inc		18,023
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,149,853
HOUSEHOLD & PERSONAL PRODUCTS - 1.8%
	7,431	*	Central Garden & Pet Co		217
	24,471	*	Central Garden and Pet Co (Class A)		678

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	152,131		Church & Dwight Co, Inc	$	11,446
	81,446		Clorox Co		12,369
	539,071		Colgate-Palmolive Co		39,627
	215,270	e	Coty, Inc		2,263
	41,449	*	Edgewell Personal Care Co		1,347
	15,146	*	elf Beauty, Inc		265
	44,546	e	Energizer Holdings, Inc		1,941
	137,237		Estee Lauder Cos (Class A)		27,303
	69,622	*	Herbalife Ltd		2,636
	12,258		Inter Parfums, Inc		858
	216,352		Kimberly-Clark Corp		30,733
	7,966	e	Medifast, Inc		826
	5,868	*	Nature’s Sunshine Products, Inc		49
	36,417		Nu Skin Enterprises, Inc (Class A)		1,549
	3,981		Oil-Dri Corp of America		136
	1,587,009		Procter & Gamble Co		197,392
	8,319	*,e	Revlon, Inc (Class A)		195
	27,090	h	Spectrum Brands Holdings, Inc		1,428
	8,349	*	USANA Health Sciences, Inc		571
	9,183		WD-40 Co		1,685
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		335,514
INSURANCE - 4.1%
	472,867		Aflac, Inc		24,740
	9,183	*	Alleghany Corp		7,326
	213,295		Allstate Corp		23,181
	32,424	*	AMBAC Financial Group, Inc		634
	61,796		American Equity Investment Life Holding Co		1,496
	43,725		American Financial Group, Inc		4,716
	555,922		American International Group, Inc		30,965
	5,469		American National Insurance Co		677
	13,468		Amerisafe, Inc		890
	153,248		Aon plc		29,664
	243,531	*	Arch Capital Group Ltd		10,224
	24,041		Argo Group International Holdings Ltd		1,689
	112,850		Arthur J. Gallagher & Co		10,108
	39,854		Assurant, Inc		5,014
	61,872		Assured Guaranty Ltd		2,751
	96,464	*	Athene Holding Ltd		4,057
	49,119		Axis Capital Holdings Ltd		3,277
	1,259,132	*	Berkshire Hathaway, Inc (Class B)		261,924
	65,679	*	Brighthouse Financial, Inc		2,658
	144,728		Brown & Brown, Inc		5,219
	290,684		Chubb Ltd		46,928
	97,804		Cincinnati Financial Corp		11,411
	32,879	*,e	Citizens, Inc (Class A)		226
	17,827		CNA Financial Corp		878
	123,157		Conseco, Inc		1,950
	7,812		Donegal Group, Inc (Class A)		115
	11,930	*	eHealth, Inc		797
	23,170		Employers Holdings, Inc		1,010
	8,013	*	Enstar Group Ltd		1,522
	17,977		Erie Indemnity Co (Class A)		3,337

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	24,282		Everest Re Group Ltd	$	6,461
	7,071		FBL Financial Group, Inc (Class A)		421
	10,321		FedNat Holding Co		144
	67,815		First American Financial Corp		4,002
	172,857		FNF Group		7,677
	339,186	*	Genworth Financial, Inc (Class A)		1,492
	6,929		Global Indemnity Ltd		173
	63,858		Globe Life, Inc		6,115
	6,616	e	Goosehead Insurance, Inc		327
	20,683	*	Greenlight Capital Re Ltd (Class A)		217
	7,438	*	Hallmark Financial Services		142
	26,224		Hanover Insurance Group, Inc		3,554
	226,634		Hartford Financial Services Group, Inc		13,736
	5,533		HCI Group, Inc		233
	8,194	*,e	Health Insurance Innovations, Inc		204
	18,411		Heritage Insurance Holdings, Inc		275
	29,606		Horace Mann Educators Corp		1,372
	5,237		Independence Holding Co		202
	1,119		Investors Title Co		179
	12,617		James River Group Holdings Ltd		647
	38,336		Kemper Corp		2,988
	10,502		Kinsale Capital Group, Inc		1,085
	127,145		Lincoln National Corp		7,669
	166,913		Loews Corp		8,593
	8,710	*	Markel Corp		10,294
	324,629		Marsh & McLennan Cos, Inc		32,479
	59,989	*	MBIA, Inc		554
	20,342		Mercury General Corp		1,137
	513,840		Metlife, Inc		24,233
	35,673		National General Holdings Corp		821
	1,551		National Western Life Group, Inc		416
	7,308	*	NI Holdings, Inc		125
	167,351		Old Republic International Corp		3,945
	27,126		Primerica, Inc		3,451
	179,527		Principal Financial Group		10,258
	37,307		ProAssurance Corp		1,502
	372,970		Progressive Corp		28,812
	6,904		Protective Insurance Corp		121
	255,143		Prudential Financial, Inc		22,950
	37,637		Reinsurance Group of America, Inc (Class A)		6,017
	28,312		RenaissanceRe Holdings Ltd		5,477
	27,824	e	RLI Corp		2,585
	11,093		Safety Insurance Group, Inc		1,124
	42,211		Selective Insurance Group, Inc		3,174
	11,039		State Auto Financial Corp		358
	15,315		Stewart Information Services Corp		594
	51,271	*	Third Point Reinsurance Ltd		512
	22,143		Tiptree Financial, Inc		161
	166,611		Travelers Cos, Inc		24,773
	15,868	*,e	Trupanion, Inc		403
	16,104		United Fire & Casualty Co		757
	12,682		United Insurance Holdings Corp		177
	22,402		Universal Insurance Holdings, Inc		672
	127,358		UnumProvident Corp		3,785

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	89,718		W.R. Berkley Corp	$	6,480
	13,074	*,e	Watford Holdings Ltd		352
	1,751		White Mountains Insurance Group Ltd		1,891
	82,679		Willis Towers Watson plc		15,955
			TOTAL INSURANCE		783,637
MATERIALS - 2.9%
	15,014	e	Advanced Emissions Solutions, Inc		223
	22,501	*	AdvanSix, Inc		579
	141,089		Air Products & Chemicals, Inc		31,302
	228,124	*,e	AK Steel Holding Corp		518
	66,965	e	Albemarle Corp		4,655
	122,406	*	Alcoa Corp		2,457
	78,013	*	Allegheny Technologies, Inc		1,580
	20,501		American Vanguard Corp		322
	36,989		Aptargroup, Inc		4,381
	13,288		Ardagh Group S.A.		208
	43,629		Ashland Global Holdings, Inc		3,362
	52,341		Avery Dennison Corp		5,944
	134,265	*	Axalta Coating Systems Ltd		4,048
	23,190		Balchem Corp		2,300
	212,383		Ball Corp		15,464
	79,377	*	Berry Global Group, Inc		3,117
	27,727		Boise Cascade Co		904
	31,457		Cabot Corp		1,426
	31,590		Carpenter Technology Corp		1,632
	79,323		Celanese Corp (Series A)		9,700
	36,798	*	Century Aluminum Co		244
	141,761		CF Industries Holdings, Inc		6,975
	5,158		Chase Corp		564
	96,050	e	Chemours Co		1,435
	11,678	*	Clearwater Paper Corp		247
	213,712	e	Cleveland-Cliffs, Inc		1,543
	119,550	*	Coeur Mining, Inc		575
	83,562		Commercial Metals Co		1,452
	22,798	e	Compass Minerals International, Inc		1,288
	495,838		Corteva, Inc		13,883
	76,387	*	Crown Holdings, Inc		5,046
	32,116		Domtar Corp		1,150
	478,328		Dow, Inc		22,792
	487,799		DuPont de Nemours, Inc		34,785
	26,800		Eagle Materials, Inc		2,412
	85,014		Eastman Chemical Co		6,277
	160,600		Ecolab, Inc		31,805
	159,281	*	Element Solutions, Inc		1,621
	60,041	*,e	Ferro Corp		712
	47,286	*,†	Ferroglobe plc		0
	40,724	*,e	Flotek Industries, Inc		90
	83,295		FMC Corp		7,303
	941,449		Freeport-McMoRan Copper & Gold, Inc (Class B)		9,010
	17,819		FutureFuel Corp		213
	48,995	*	GCP Applied Technologies, Inc		943
	39,231	*	Gold Resource Corp		120

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	224,514		Graphic Packaging Holding Co	$	3,312
	18,292		Greif, Inc (Class A)		693
	3,993		Greif, Inc (Class B)		182
	34,325	e	H.B. Fuller Co		1,598
	7,923		Hawkins, Inc		337
	9,402		Haynes International, Inc		337
	335,463	e	Hecla Mining Co		590
	143,018		Huntsman Corp		3,327
	30,403	*	Ingevity Corp		2,579
	14,138		Innophos Holdings, Inc		459
	17,291		Innospec, Inc		1,541
	69,358	e	International Flavors & Fragrances, Inc		8,510
	250,148		International Paper Co		10,461
	67,354	*	Intrepid Potash, Inc		220
	12,178		Kaiser Aluminum Corp		1,205
	15,231	*	Koppers Holdings, Inc		445
	21,628	*	Kraton Polymers LLC		698
	14,288	e	Kronos Worldwide, Inc		177
	347,186		Linde plc		67,257
	93,236	*	Livent Corp		624
	80,217		Louisiana-Pacific Corp		1,972
	15,120	*	LSB Industries, Inc		78
	171,006		LyondellBasell Industries AF S.C.A		15,300
	40,060		Martin Marietta Materials, Inc		10,980
	14,781		Materion Corp		907
	23,990		Minerals Technologies, Inc		1,274
	233,459		Mosaic Co		4,786
	18,118		Myers Industries, Inc		320
	10,909		Neenah Paper, Inc		710
	4,083		NewMarket Corp		1,928
	522,170		Newmont Mining Corp		19,801
	149,512	*	Novagold Resources Inc		908
	187,370		Nucor Corp		9,539
	119,149		Olin Corp		2,230
	6,559		Olympic Steel, Inc		94
	32,453	*	Omnova Solutions, Inc		327
	38,461	*	Orion Engineered Carbons SA		643
	90,414		Owens-Illinois, Inc		929
	58,185		Packaging Corp of America		6,173
	32,454		PH Glatfelter Co		499
	58,890		PolyOne Corp		1,923
	148,439		PPG Industries, Inc		17,592
	20,162	*	PQ Group Holdings, Inc		321
	9,399		Quaker Chemical Corp		1,486
	31,957		Rayonier Advanced Materials, Inc		138
	37,719		Reliance Steel & Aluminum Co		3,759
	41,577		Royal Gold, Inc		5,123
	77,728		RPM International, Inc		5,348
	8,418	*	Ryerson Holding Corp		72
	19,399		Schnitzer Steel Industries, Inc (Class A)		401
	20,766		Schweitzer-Mauduit International, Inc		777
	24,552		Scotts Miracle-Gro Co (Class A)		2,500
	109,559		Sealed Air Corp		4,548
	23,291		Sensient Technologies Corp		1,599

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	52,419		Sherwin-Williams Co	$	28,824
	33,528		Silgan Holdings, Inc		1,007
	58,033		Sonoco Products Co		3,378
	38,811		Southern Copper Corp (NY)		1,325
	140,856		Steel Dynamics, Inc		4,198
	14,267		Stepan Co		1,385
	78,354	*	Summit Materials, Inc		1,739
	48,451	*	SunCoke Energy, Inc		273
	29,755	*	TimkenSteel Corp		187
	15,246	*,e	Trecora Resources		138
	19,671		Tredegar Corp		384
	23,427		Trinseo S.A.		1,006
	47,159		Tronox Holdings plc		391
	4,630	*	UFP Technologies, Inc		179
	1,357		United States Lime & Minerals, Inc		104
	113,186	e	United States Steel Corp		1,307
	11,048	*	US Concrete, Inc		611
	16,839		Valhi, Inc		32
	120,028		Valvoline, Inc		2,644
	22,885	*,e	Verso Corp		283
	84,861		Vulcan Materials Co		12,834
	11,178		Warrior Met Coal, Inc		218
	24,489		Westlake Chemical Corp		1,605
	166,890		WestRock Co		6,083
	31,289	*	Worthington Industries, Inc		1,128
	32,691		WR Grace and Co		2,182
			TOTAL MATERIALS		549,589
MEDIA & ENTERTAINMENT - 7.3%
	488,645		Activision Blizzard, Inc		25,859
	192,725	*	Alphabet, Inc (Class A)		235,344
	195,640	*	Alphabet, Inc (Class C)		238,485
	213,593	*	Altice USA, Inc		6,126
	39,663	e	AMC Entertainment Holdings, Inc		424
	27,567	*	AMC Networks, Inc		1,355
	2,913		Cable One, Inc		3,655
	8,784	*,e	Cardlytics, Inc		294
	10,137	*,e	Care.com, Inc		106
	33,333	*,e	Cargurus, Inc		1,032
	51,951	*	Cars.com, Inc		466
	207,768		CBS Corp (Class B)		8,388
	57,360	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		258
	102,375	*	Charter Communications, Inc		42,191
	76,895		Cinemark Holdings, Inc		2,971
	28,047	*	Clear Channel		71
	2,887,553		Comcast Corp (Class A)		130,171
	31,610	*	comScore, Inc		60
	772	*,e	Daily Journal Corp		191
	89,117	*,e	Discovery, Inc (Class A)		2,373
	216,367	*	Discovery, Inc (Class C)		5,327
	148,831	*	DISH Network Corp (Class A)		5,071
	190,845	*	Electronic Arts, Inc		18,668

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	11,002		Emerald Expositions Events, Inc	$	107
	88,350	e	Entercom Communications Corp (Class A)		295
	50,932		Entravision Communications Corp (Class A)		162
	20,620	*,e	Eros International plc		39
	23,593	*,e	Eventbrite Inc		418
	42,935		EW Scripps Co (Class A)		570
	1,538,278	*	Facebook, Inc		273,937
	10,504	*,e	Fluent, Inc		29
	227,338		Fox Corp (Class A)		7,169
	106,773		Fox Corp (Class B)		3,368
	86,657	e	Gannett Co, Inc		931
	68,741	*	GCI Liberty, Inc		4,267
	54,344	*	Glu Mobile, Inc		271
	46,930	*	Gray Television, Inc		766
	12,184	*	Grocery Outlet Holding Corp		422
	11,523	*	Hemisphere Media Group, Inc		141
	49,755	*	IAC/InterActiveCorp		10,845
	42,177	*	Imax Corp		926
	230,004		Interpublic Group of Cos, Inc		4,959
	30,218		John Wiley & Sons, Inc (Class A)		1,328
	7,655	*	Liberty Braves Group (Class A)		213
	25,374	*	Liberty Braves Group (Class C)		704
	17,476	*	Liberty Broadband Corp (Class A)		1,827
	67,609	*	Liberty Broadband Corp (Class C)		7,077
	29,453	*	Liberty Latin America Ltd (Class A)		503
	77,076	*,e	Liberty Latin America Ltd (Class C)		1,318
	15,619	*,e	Liberty Media Group (Class A)		618
	123,792	*	Liberty Media Group (Class C)		5,148
	50,898	*	Liberty SiriusXM Group (Class A)		2,116
	102,962	*	Liberty SiriusXM Group (Class C)		4,320
	53,282	*	Liberty TripAdvisor Holdings, Inc		501
	37,150		Lions Gate Entertainment Corp (Class A)		344
	71,817		Lions Gate Entertainment Corp (Class B)		628
	88,266	*	Live Nation, Inc		5,856
	9,932	*	Loral Space & Communications, Inc		411
	13,200	*,e	Madison Square Garden Co		3,478
	14,211		Marcus Corp		526
	35,129	e	Match Group, Inc		2,510
	37,799	*	MDC Partners, Inc		107
	46,865	*,e	Meet Group, Inc		153
	27,920		Meredith Corp		1,023
	43,336	*,e	MSG Networks, Inc		703
	46,358		National CineMedia, Inc		380
	272,021	*	NetFlix, Inc		72,798
	36,183	e	New Media Investment Group, Inc		319
	89,935		New York Times Co (Class A)		2,561
	268,456		News Corp (Class A)		3,737
	86,319		News Corp (Class B)		1,234
	31,898	e	Nexstar Broadcasting Group, Inc (Class A)		3,263
	138,888		Omnicom Group, Inc		10,875
	20,643	*,e	QuinStreet, Inc		260
	12,373	*	Reading International, Inc		148
	13,437	*	Rosetta Stone, Inc		234
	3,161		Saga Communications, Inc		94

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	19,984		Scholastic Corp	$	755
	42,650		Sinclair Broadcast Group, Inc (Class A)		1,823
	829,989	e	Sirius XM Holdings, Inc		5,192
	76,688	*	Spotify Technology S.A.		8,742
	73,771	*	Take-Two Interactive Software, Inc		9,246
	12,153	*	TechTarget, Inc		274
	156,124		TEGNA, Inc		2,425
	15,283		Tribune Publishing Co		131
	71,015	*	TripAdvisor, Inc		2,747
	44,667	*	TrueCar, Inc		152
	489,505	*	Twitter, Inc		20,168
	7,706	e	Viacom, Inc (Class A)		202
	214,191	e	Viacom, Inc (Class B)		5,147
	1,120,846		Walt Disney Co		146,069
	15,148	*,e	WideOpenWest, Inc		93
	27,047		World Wrestling Entertainment, Inc (Class A)		1,924
	56,028	*	Yelp, Inc		1,947
	38,071	*	Zillow Group, Inc (Class A)		1,125
	76,096	*,e	Zillow Group, Inc (Class C)		2,269
	549,506	*	Zynga, Inc		3,198
			TOTAL MEDIA & ENTERTAINMENT		1,389,452
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.3%
	949,427		AbbVie, Inc		71,891
	18,729	*	Abeona Therapeutics, Inc		42
	70,913	*,e	Acadia Pharmaceuticals, Inc		2,552
	18,841	*,e	Accelerate Diagnostics, Inc		350
	22,847	*	Acceleron Pharma, Inc		903
	86,253	*	Achillion Pharmaceuticals, Inc		310
	14,790	*,e	Aclaris Therapeutics, Inc		16
	31,389	*	Acorda Therapeutics, Inc		90
	12,735	*,e	Adamas Pharmaceuticals, Inc		65
	10,560	*	Adaptive Biotechnologies Corp		326
	36,900	*	Adverum Biotechnologies, Inc		201
	21,807	*	Aerie Pharmaceuticals, Inc		419
	56,789	*,e	Agenus, Inc		147
	206,481		Agilent Technologies, Inc		15,823
	34,493	*,e	Agios Pharmaceuticals, Inc		1,118
	25,712	*,e	Aimmune Therapeutics, Inc		538
	10,845	*,e	Akcea Therapeutics, Inc		167
	48,526	*	Akebia Therapeutics, Inc		190
	64,824	*	Akorn, Inc		246
	6,175	*,e	Albireo Pharma, Inc		123
	34,164	*,e	Alder Biopharmaceuticals, Inc		644
	19,353	*,e	Alector, Inc		279
	142,239	*	Alexion Pharmaceuticals, Inc		13,931
	110,420	*	Alkermes plc		2,154
	5,532	*,e	Allakos, Inc		435
	213,422		Allergan plc		35,917
	14,115	*,e	Allogene Therapeutics, Inc		385
	68,830	*	Alnylam Pharmaceuticals, Inc		5,535
	25,493	*,e	AMAG Pharmaceuticals, Inc		294
	385,916		Amgen, Inc		74,679

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	128,302	*	Amicus Therapeutics, Inc	$	1,029
	53,162	*	Amneal Pharmaceuticals, Inc		154
	25,774	*	Amphastar Pharmaceuticals, Inc		511
	12,566	*,e	AnaptysBio, Inc		440
	5,767	*	ANI Pharmaceuticals, Inc		420
	10,943	*	Anika Therapeutics, Inc		601
	24,477	*,e	Apellis Pharmaceuticals, Inc		590
	29,050	*,†	Aratana Therapeutics, Inc		2
	20,717	*	Arcus Biosciences, Inc		189
	22,973	*,e	Ardelyx, Inc		108
	33,642	*	Arena Pharmaceuticals, Inc		1,540
	58,861	*	Arqule, Inc		422
	58,978	*,e	Arrowhead Research Corp		1,662
	11,368	*	Arvinas, Inc		245
	10,043	*	Assembly Biosciences, Inc		99
	44,278	*,e	Assertio Therapeutics, Inc		57
	27,557	*,e	Atara Biotherapeutics, Inc		389
	28,525	*,e	Athenex, Inc		347
	52,762	*,e	Athersys, Inc		70
	21,700	*	Audentes Therapeutics, Inc		610
	150,155	*	Avantor, Inc		2,207
	33,858	*	Avid Bioservices, Inc		179
	13,157	*	Avrobio, Inc		186
	15,727	*,e	Axsome Therapeutics, Inc		318
	53,741	*	BioCryst Pharmaceuticals, Inc		154
	52,671	*	BioDelivery Sciences International, Inc		222
	118,395	*	Biogen Idec, Inc		27,565
	18,525	*	Biohaven Pharmaceutical Holding Co Ltd		773
	120,472	*	BioMarin Pharmaceutical, Inc		8,120
	13,641	*	Bio-Rad Laboratories, Inc (Class A)		4,539
	3,856	*	Biospecifics Technologies Corp		206
	25,935		Bio-Techne Corp		5,075
	33,689	*,e	Bluebird Bio, Inc		3,093
	28,144	*	Blueprint Medicines Corp		2,068
	14,431	*,e	Bridgebio Pharma, Inc		310
	1,052,259		Bristol-Myers Squibb Co		53,360
	76,600		Bruker BioSciences Corp		3,365
	21,820	*	Calithera Biosciences, Inc		67
	5,849	*,e	Calyxt, Inc		33
	23,380	*	Cambrex Corp		1,391
	19,366	*,e	Cara Therapeutics, Inc		354
	21,908	*	CareDx, Inc		495
	33,837	*,e	CASI Pharmaceuticals, Inc		113
	90,837	*	Catalent, Inc		4,329
	50,782	*,e	Catalyst Pharmaceuticals, Inc		270
	457,387	*	Celgene Corp		45,419
	34,386	*	Charles River Laboratories International, Inc		4,552
	18,304	*	ChemoCentryx, Inc		124
	30,594	*	Chimerix, Inc		72
	28,355	*,e	Clovis Oncology, Inc		111
	23,538	*,e	Codexis, Inc		323
	27,864	*	Coherus Biosciences, Inc		565
	16,286	*	Collegium Pharmaceutical, Inc		187
	11,239	*	Concert Pharmaceuticals, Inc		66

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	32,828	*,e	Corbus Pharmaceuticals Holdings, Inc	$	160
	65,375	*	Corcept Therapeutics, Inc		924
	15,295	*,†,e	Corium International, Inc		3
	11,975	*,e	Cue Biopharma, Inc		101
	9,501	*	Cyclerion Therapeutics, Inc		115
	39,943	*	Cymabay Therapeutics, Inc		204
	30,153	*	Cytokinetics, Inc		343
	21,311	*	CytomX Therapeutics, Inc		157
	5,156	*	Deciphera Pharmaceuticals, Inc		175
	11,457	*,e	Denali Therapeutics, Inc		176
	27,246	*,e	Dermira, Inc		174
	30,105	*	Dicerna Pharmaceuticals, Inc		432
	7,981	*,e	Dova Pharmaceuticals, Inc		223
	35,256	*,e	Dynavax Technologies Corp		126
	6,368	*,e	Eagle Pharmaceuticals, Inc		360
	24,325	*,e	Editas Medicine, Inc		553
	10,671	*,e	Eidos Therapeutics, Inc		384
	242,493	*,e	Elanco Animal Health, Inc		6,448
	554,014		Eli Lilly & Co		61,955
	14,575	*,e	Eloxx Pharmaceuticals, Inc		66
	24,015	*	Emergent Biosolutions, Inc		1,255
	11,786	*	Enanta Pharmaceuticals, Inc		708
	161,263	*	Endo International plc		518
	29,818	*,e	Epizyme, Inc		308
	9,694	*	Esperion Thereapeutics, Inc		355
	79,297	*	Exact Sciences Corp		7,166
	189,826	*	Exelixis, Inc		3,357
	24,636	*,e	Fate Therapeutics, Inc		383
	50,667	*	FibroGen, Inc		1,874
	19,800	*	Five Prime Therapeutics, Inc		77
	19,463	*,e	Flexion Therapeutics, Inc		267
	20,851	*	Fluidigm Corp		97
	5,695	*,e	G1 Therapeutics, Inc		130
	14,071	*	Genomic Health, Inc		954
	114,325	*,e	Geron Corp		152
	823,881		Gilead Sciences, Inc		52,218
	26,450	*	Global Blood Therapeutics, Inc		1,283
	22,784	*	GlycoMimetics, Inc		98
	12,922	*	Gossamer Bio, Inc		217
	79,065	*	Halozyme Therapeutics, Inc		1,226
	32,353	*,e	Heron Therapeutics, Inc		599
	11,341	*	Homology Medicines, Inc		205
	118,653	*	Horizon Pharma plc		3,231
	96,259	*	Illumina, Inc		29,284
	65,469	*	Immunogen, Inc		158
	89,330	*,e	Immunomedics, Inc		1,185
	116,540	*	Incyte Corp		8,651
	55,553	*	Innoviva, Inc		586
	49,160	*,e	Inovio Pharmaceuticals, Inc		101
	45,452	*	Insmed, Inc		802
	10,757	*,e	Intellia Therapeutics, Inc		144
	12,921	*,e	Intercept Pharmaceuticals, Inc		857
	18,642	*	Intersect ENT, Inc		317

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	25,348	*,e	Intra-Cellular Therapies, Inc	$	189
	39,434	*,e	Intrexon Corp		226
	55,953	*,e	Invitae Corp		1,078
	89,084	*	Ionis Pharmaceuticals, Inc		5,337
	74,052	*	Iovance Biotherapeutics, Inc		1,348
	114,676	*	IQVIA Holdings, Inc		17,130
	95,014	*	Ironwood Pharmaceuticals, Inc		816
	35,564	*	Jazz Pharmaceuticals plc		4,557
	1,709,900		Johnson & Johnson		221,227
	4,482	*	Jounce Therapeutics, Inc		15
	47,099	*,e	Kadmon Holdings, Inc		119
	5,857	*,e	Kala Pharmaceuticals, Inc		22
	23,632	*,e	Karyopharm Therapeutics, Inc		227
	15,620	*	Kindred Biosciences, Inc		107
	15,063	*	Kodiak Sciences, Inc		217
	5,660	*,e	Krystal Biotech Inc		197
	10,057	*	Kura Oncology, Inc		153
	12,410	*,e	La Jolla Pharmaceutical Co		109
	19,506	*,e	Lannett Co, Inc		218
	30,110	*,e	Lexicon Pharmaceuticals, Inc		91
	14,752	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,468
	56,186	*,e	Lineage Cell Therapeutics, Inc		55
	31,134		Luminex Corp		643
	23,459	*	MacroGenics, Inc		299
	3,934	*,e	Madrigal Pharmaceuticals, Inc		339
	94,899	*,e	MannKind Corp		119
	24,678	*,e	Marinus Pharmaceuticals, Inc		38
	49,764	*,e	Medicines Co		2,488
	22,034	*,e	MediciNova, Inc		175
	17,824	*	Medpace Holdings, Inc		1,498
	10,086	*	MeiraGTx Holdings plc		161
	1,653,374		Merck & Co, Inc		139,181
	8,441	*,e	Mersana Therapeutics, Inc		13
	16,303	*	Mettler-Toledo International, Inc		11,484
	18,922	*	Minerva Neurosciences, Inc		147
	12,275	*	Mirati Therapeutics, Inc		956
	131,127	*,e	Moderna, Inc		2,088
	53,355	*	Momenta Pharmaceuticals, Inc		691
	350,312	*	Mylan NV		6,929
	20,674	*,e	MyoKardia, Inc		1,078
	46,607	*	Myriad Genetics, Inc		1,334
	10,862	*	NanoString Technologies, Inc		234
	19,889	*	Natera, Inc		652
	106,507	*,e	Nektar Therapeutics		1,940
	38,546	*	NeoGenomics, Inc		737
	63,342	*	Neurocrine Biosciences, Inc		5,708
	9,899	*,e	Novavax, Inc		50
	13,115	*,e	Ocular Therapeutix, Inc		40
	7,487	*	Odonate Therapeutics, Inc		195
	29,642	*,e	Omeros Corp		484
	238,337	*,e	Opko Health, Inc		498
	10,903	*,e	Optinose, Inc		76
	55,440	*,e	Pacific Biosciences of California, Inc		286
	28,237	*	Pacira Pharmaceuticals, Inc		1,075

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	17,330	*,e	Paratek Pharmaceuticals, Inc	$	75
	120,653	*,e	PDL BioPharma, Inc		261
	73,051		PerkinElmer, Inc		6,222
	81,033		Perrigo Co plc		4,529
	3,570,988		Pfizer, Inc		128,305
	12,927		Phibro Animal Health Corp		276
	24,527	*	Pieris Pharmaceuticals, Inc		84
	5,876	*,e	PolarityTE, Inc		19
	36,240	*	Portola Pharmaceuticals, Inc		972
	34,913	*	PRA Health Sciences, Inc		3,464
	38,233	*	Prestige Consumer Healthcare, Inc.		1,326
	8,652	*	Principia Biopharma, Inc		244
	51,583	*	Progenics Pharmaceuticals, Inc		261
	27,579	*	Prothena Corp plc		216
	25,096	*	PTC Therapeutics, Inc		849
	20,506	*,e	Puma Biotechnology, Inc		221
	149,997	*	QIAGEN NV		4,945
	6,148	*	Quanterix Corp		135
	8,205	*	Ra Pharmaceuticals, Inc		194
	27,010	*	Radius Health, Inc		695
	12,412	*,e	Reata Pharmaceuticals, Inc		997
	8,471	*	Recro Pharma, Inc		94
	53,535	*	Regeneron Pharmaceuticals, Inc		14,851
	19,715	*	REGENXBIO, Inc		702
	33,047	*	Repligen Corp		2,534
	25,726	*	Retrophin, Inc		298
	15,494	*	Revance Therapeutics, Inc		201
	6,147	*	Rhythm Pharmaceuticals, Inc		133
	86,450	*	Rigel Pharmaceuticals, Inc		162
	14,146	*,e	Rocket Pharmaceuticals, Inc		165
	22,395	*,e	Rubius Therapeutics, Inc		176
	32,762	*,e	Sage Therapeutics, Inc		4,596
	52,234	*	Sangamo Biosciences, Inc		473
	42,194	*,e	Sarepta Therapeutics, Inc		3,178
	70,004	*	Seattle Genetics, Inc		5,978
	13,345	*,e	Seres Therapeutics, Inc		54
	35,191	*	SIGA Technologies, Inc		180
	6,168	*,e	Solid Biosciences, Inc		64
	58,895	*,e	Sorrento Therapeutics, Inc		126
	16,648	*	Spark Therapeutics, Inc		1,615
	56,104	*	Spectrum Pharmaceuticals, Inc		465
	12,168	*	Stemline Therapeutics, Inc		127
	34,621	*	Supernus Pharmaceuticals, Inc		951
	6,983	*	Syndax Pharmaceuticals, Inc		52
	39,474	*	Syneos Health, Inc		2,100
	9,466	*	Syros Pharmaceuticals, Inc		98
	34,724	*,e	TG Therapeutics, Inc		195
	114,084	*,e	TherapeuticsMD, Inc		414
	29,259	*,e	Theravance Biopharma, Inc		570
	257,588		Thermo Fisher Scientific, Inc		75,028
	6,159	*	Tocagen, Inc		4
	18,965	*,e	Translate Bio, Inc		188
	7,799	*	Tricida, Inc		241

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	13,734	*,e	Twist Bioscience Corp	$	328
	68,656	*,e	Tyme Technologies, Inc		82
	28,669	*	Ultragenyx Pharmaceutical, Inc		1,226
	28,234	*	United Therapeutics Corp		2,252
	16,428	*,e	UNITY Biotechnology, Inc		100
	12,098	*,e	UroGen Pharma Ltd		288
	31,395	*	Vanda Pharmaceuticals, Inc		417
	16,367	*	Veracyte, Inc		393
	24,994	*,e	Vericel Corp		378
	164,958	*	Vertex Pharmaceuticals, Inc		27,947
	29,514	*,e	Viking Therapeutics, Inc		203
	8,673	*	Voyager Therapeutics, Inc		149
	44,761	*	Waters Corp		9,992
	8,910	*,e	WaVe Life Sciences Pte Ltd		183
	27,098	*	Xencor, Inc		914
	13,141	*	Y-mAbs Therapeutics, Inc		342
	90,754	*,e	ZIOPHARM Oncology, Inc		388
	309,962		Zoetis, Inc		38,618
	17,421	*,e	Zogenix, Inc		698
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,393,051
REAL ESTATE - 4.3%
	60,331		Acadia Realty Trust		1,724
	18,415		Agree Realty Corp		1,347
	47,563		Alexander & Baldwin, Inc		1,166
	1,329		Alexander’s, Inc		463
	73,674		Alexandria Real Estate Equities, Inc		11,349
	8,343	*,e	Altisource Portfolio Solutions S.A.		169
	28,646		American Assets Trust, Inc		1,339
	96,842		American Campus Communities, Inc		4,656
	68,972	e	American Finance Trust, Inc		963
	164,177		American Homes 4 Rent		4,251
	281,732		American Tower Corp		62,299
	124,274	e	Americold Realty Trust		4,607
	91,510		Apartment Investment & Management Co		4,771
	113,878		Apple Hospitality REIT, Inc		1,888
	31,681		Armada Hoffler Properties, Inc		573
	56,474		Ashford Hospitality Trust, Inc		187
	87,476		AvalonBay Communities, Inc		18,836
	16,903		Bluerock Residential Growth REIT, Inc		199
	98,458		Boston Properties, Inc		12,766
	20,771		BraeMar Hotels & Resorts, Inc		195
	121,360		Brandywine Realty Trust		1,839
	218,369		Brixmor Property Group, Inc		4,431
	43,270		Brookfield Property REIT, Inc		882
	61,667		Camden Property Trust		6,846
	50,740		CareTrust REIT, Inc		1,193
	29,192		CatchMark Timber Trust, Inc		312
	124,137	e	CBL & Associates Properties, Inc		160
	206,667	*	CBRE Group, Inc		10,955
	62,949		Cedar Realty Trust, Inc		189
	28,285		Chatham Lodging Trust		513
	21,833		City Office REIT, Inc		314
	10,462		Clipper Realty, Inc		107

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	350,580		Colony Capital, Inc	$	2,111
	83,894		Columbia Property Trust, Inc		1,774
	9,586		Community Healthcare Trust, Inc		427
	3,235		Consolidated-Tomoka Land Co		212
	86,682		CoreCivic, Inc		1,498
	9,299	e	CorEnergy Infrastructure Trust, Inc		439
	7,951		CorePoint Lodging, Inc		80
	24,799		Coresite Realty		3,022
	72,219		Corporate Office Properties Trust		2,151
	101,092		Cousins Properties, Inc		3,800
	270,162		Crown Castle International Corp		37,555
	114,248		CubeSmart		3,987
	66,192	*,e	Cushman & Wakefield plc		1,227
	72,671		CyrusOne, Inc		5,748
	144,818		DiamondRock Hospitality Co		1,484
	134,391		Digital Realty Trust, Inc		17,445
	102,445		Douglas Emmett, Inc		4,388
	236,841		Duke Realty Corp		8,046
	26,096		Easterly Government Properties, Inc		556
	23,492		EastGroup Properties, Inc		2,937
	87,790		Empire State Realty Trust, Inc		1,253
	45,571		Entertainment Properties Trust		3,503
	53,603		Equinix, Inc		30,918
	62,602		Equity Commonwealth		2,144
	56,851		Equity Lifestyle Properties, Inc		7,595
	232,924		Equity Residential		20,092
	23,787		Essential Properties Realty Trust, Inc		545
	42,504	e	Essex Property Trust, Inc		13,884
	77,495		Extra Space Storage, Inc		9,053
	19,962	e	Farmland Partners, Inc		133
	48,478		Federal Realty Investment Trust		6,600
	80,676		First Industrial Realty Trust, Inc		3,192
	425	*,e	Forestar Group, Inc		8
	44,705		Four Corners Property Trust, Inc		1,264
	72,511		Franklin Street Properties Corp		613
	37,147		Front Yard Residential Corp		429
	4,942	*	FRP Holdings, Inc		237
	124,798		Gaming and Leisure Properties, Inc		4,772
	87,896		Geo Group, Inc		1,524
	18,198	e	Getty Realty Corp		583
	17,811		Gladstone Commercial Corp		419
	10,990		Global Medical REIT, Inc		125
	44,961		Global Net Lease, Inc		877
	35,286	e	Hannon Armstrong Sustainable Infrastructure Capital, Inc		1,029
	322,762		HCP, Inc		11,500
	82,789		Healthcare Realty Trust, Inc		2,773
	142,087		Healthcare Trust of America, Inc		4,175
	27,708		Hersha Hospitality Trust		412
	71,000		Highwoods Properties, Inc		3,191
	476,733		Host Marriott Corp		8,243
	24,727	*	Howard Hughes Corp		3,205
	113,109		Hudson Pacific Properties		3,785
	48,914		Independence Realty Trust, Inc		700

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	34,891		Industrial Logistics Properties Trust	$	741
	4,353	e	Innovative Industrial Properties, Inc		402
	9,060		Investors Real Estate Trust		677
	324,265		Invitation Homes, Inc		9,602
	190,342		Iron Mountain, Inc		6,165
	49,646	e	iStar Financial, Inc		648
	79,348		JBG SMITH Properties		3,111
	6,203		Jernigan Capital, Inc		119
	30,788		Jones Lang LaSalle, Inc		4,281
	84,885		Kennedy-Wilson Holdings, Inc		1,861
	61,892		Kilroy Realty Corp		4,821
	269,965		Kimco Realty Corp		5,637
	55,102		Kite Realty Group Trust		890
	51,720		Lamar Advertising Co		4,237
	144,484		Lexington Realty Trust		1,481
	90,704		Liberty Property Trust		4,656
	25,812		Life Storage, Inc		2,721
	26,668		LTC Properties, Inc		1,366
	92,755	e	Macerich Co		2,930
	65,387		Mack-Cali Realty Corp		1,416
	11,498	*	Marcus & Millichap, Inc		408
	4,532	*	Maui Land & Pineapple Co, Inc		49
	284,326		Medical Properties Trust, Inc		5,561
	77,362		Mid-America Apartment Communities, Inc		10,058
	50,307		Monmouth Real Estate Investment Corp (Class A)		725
	19,871	e	National Health Investors, Inc		1,637
	98,831		National Retail Properties, Inc		5,574
	31,451	e	National Storage Affiliates Trust		1,050
	55,714	e	New Senior Investment Group, Inc		372
	93,396		Newmark Group, Inc		846
	12,730		NexPoint Residential Trust, Inc		595
	23,677		Office Properties Income Trust		725
	144,310		Omega Healthcare Investors, Inc		6,031
	9,027		One Liberty Properties, Inc		249
	97,077		Outfront Media, Inc		2,697
	141,733		Paramount Group, Inc		1,892
	161,864	e	Park Hotels & Resorts, Inc		4,042
	85,851	e	Pebblebrook Hotel Trust		2,388
	52,388	e	Pennsylvania REIT		300
	107,460		Physicians Realty Trust		1,907
	72,743		Piedmont Office Realty Trust, Inc		1,519
	47,001		Potlatch Corp		1,931
	21,687		Preferred Apartment Communities, Inc		313
	405,488		Prologis, Inc		34,556
	13,748		PS Business Parks, Inc		2,501
	93,598		Public Storage, Inc		22,957
	34,553		QTS Realty Trust, Inc		1,776
	89,792		Rayonier, Inc		2,532
	13,117	e	Re/Max Holdings, Inc		422
	75,694	e	Realogy Holdings Corp		506
	204,582		Realty Income Corp		15,687
	40,113	*,e	Redfin Corp		676
	100,880		Regency Centers Corp		7,010
	78,162		Retail Opportunities Investment Corp		1,425

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	173,060		Retail Properties of America, Inc	$	2,132
	10,654		Retail Value, Inc		395
	67,055		Rexford Industrial Realty, Inc		2,952
	92,471		RLJ Lodging Trust		1,571
	5,123		RMR Group, Inc		233
	57,913		RPT Realty		785
	31,992		Ryman Hospitality Properties		2,617
	116,469		Sabra Healthcare REIT, Inc		2,674
	7,521		Safehold, Inc		229
	6,451		Saul Centers, Inc		352
	72,235		SBA Communications Corp		17,419
	136,618		Senior Housing Properties Trust		1,264
	18,501	e	Seritage Growth Properties		786
	94,726		Service Properties Trust		2,443
	200,450		Simon Property Group, Inc		31,200
	103,764	e	SITE Centers Corp		1,568
	58,281		SL Green Realty Corp		4,764
	56,193		Spirit Realty Capital, Inc		2,689
	33,773	*,e	St. Joe Co		579
	64,412		STAG Industrial, Inc		1,899
	121,165	e	STORE Capital Corp		4,533
	4,495	*	Stratus Properties, Inc		132
	73,018	e	Summit Hotel Properties, Inc		847
	56,879		Sun Communities, Inc		8,444
	159,024		Sunstone Hotel Investors, Inc		2,185
	67,688	e	Tanger Factory Outlet Centers, Inc		1,048
	41,435		Taubman Centers, Inc		1,692
	12,164	*	Tejon Ranch Co		206
	35,329		Terreno Realty Corp		1,805
	175,727		UDR, Inc		8,519
	20,169		UMH Properties, Inc		284
	119,952	e	Uniti Group, Inc		931
	9,264		Universal Health Realty Income Trust		952
	70,770		Urban Edge Properties		1,401
	20,808		Urstadt Biddle Properties, Inc (Class A)		493
	236,538		Ventas, Inc		17,274
	661,427		VEREIT, Inc		6,469
	296,604		VICI Properties, Inc		6,718
	109,042		Vornado Realty Trust		6,943
	134,922	e	Washington Prime Group, Inc		559
	53,425		Washington REIT		1,462
	67,227		Weingarten Realty Investors		1,958
	263,397		Welltower, Inc		23,877
	484,128		Weyerhaeuser Co		13,410
	25,132		Whitestone REIT		346
	109,722		WP Carey, Inc		9,820
	79,064	e	Xenia Hotels & Resorts, Inc		1,670
			TOTAL REAL ESTATE		810,360
RETAILING - 5.9%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		271
	45,849		Aaron’s, Inc		2,946
	51,631		Abercrombie & Fitch Co (Class A)		805

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	46,868		Advance Auto Parts, Inc	$	7,752
	266,219	*	Amazon.com, Inc		462,132
	117,400		American Eagle Outfitters, Inc		1,904
	5,481	*	America’s Car-Mart, Inc		503
	12,332	*	Asbury Automotive Group, Inc		1,262
	17,984	*,e	At Home Group, Inc		173
	36,032	*	Autonation, Inc		1,827
	15,871	*	AutoZone, Inc		17,214
	29,015	*	Barnes & Noble Education, Inc		91
	76,045	e	Bed Bath & Beyond, Inc		809
	148,525		Best Buy Co, Inc		10,247
	20,052		Big Lots, Inc		491
	86,634	*	BJ’s Wholesale Club Holdings, Inc		2,241
	27,519	*	Booking Holdings, Inc		54,009
	9,762	*	Boot Barn Holdings, Inc		341
	14,004	e	Buckle, Inc		289
	44,520	*	Burlington Stores, Inc		8,896
	28,267		Caleres, Inc		662
	22,123	e	Camping World Holdings, Inc		197
	111,632	*	CarMax, Inc		9,824
	21,643	*,e	Carvana Co		1,428
	12,003		Cato Corp (Class A)		211
	83,036	e	Chico’s FAS, Inc		335
	12,596	e	Children’s Place Retail Stores, Inc		970
	11,556		Citi Trends, Inc		212
	13,169	*	Conn’s, Inc		327
	11,400	*,e	Container Store Group, Inc		50
	33,096		Core-Mark Holding Co, Inc		1,063
	49,292		Designer Brands, Inc		844
	52,804	e	Dick’s Sporting Goods, Inc		2,155
	3,340	e	Dillard’s, Inc (Class A)		221
	164,033		Dollar General Corp		26,071
	154,566	*	Dollar Tree, Inc		17,645
	7,236	*,e	Duluth Holdings, Inc		61
	522,534		eBay, Inc		20,368
	75,173	*	Etsy, Inc		4,247
	88,654		Expedia, Inc		11,916
	55,323	*	Express Parent LLC		190
	34,498	*	Five Below, Inc		4,350
	38,520	*	Floor & Decor Holdings, Inc		1,970
	71,401	e	Foot Locker, Inc		3,082
	10,965	*,e	Funko, Inc		226
	6,584	*,e	Gaia, Inc		43
	67,461	e	GameStop Corp (Class A)		372
	130,367		Gap, Inc		2,263
	13,677	*	Genesco, Inc		547
	85,048		Genuine Parts Co		8,470
	50,651	*,e	GNC Holdings, Inc		108
	5,257		Group 1 Automotive, Inc		485
	244,899	*	Groupon, Inc		651
	60,011	*,e	GrubHub, Inc		3,373
	44,451	e	Guess?, Inc		824
	13,840		Haverty Furniture Cos, Inc		281
	16,994	*,e	Hibbett Sports, Inc		389

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	709,425		Home Depot, Inc	$	164,601
	27,375	*	Hudson Ltd		336
	228,517	*,e	JC Penney Co, Inc		203
	101,978		Kohl’s Corp		5,064
	139,756		L Brands, Inc		2,738
	9,431	*,e	Lands’ End, Inc		107
	9,177	*	Leaf Group Ltd		39
	19,090	*	Liquidity Services, Inc		141
	10,868		Lithia Motors, Inc (Class A)		1,439
	193,627	*	LKQ Corp		6,090
	504,320		Lowe’s Companies, Inc		55,455
	19,294	*,e	Lumber Liquidators, Inc		190
	172,372	e	Macy’s, Inc		2,679
	18,578	*	MarineMax, Inc		288
	61,561	*,e	Michaels Cos, Inc		603
	23,604		Monro Muffler, Inc		1,865
	16,896	*	Murphy USA, Inc		1,441
	32,478	*	National Vision Holdings, Inc		782
	70,237	e	Nordstrom, Inc		2,365
	375,116		Office Depot, Inc		658
	34,400	*,e	Ollie’s Bargain Outlet Holdings, Inc		2,017
	49,680	*	O’Reilly Automotive, Inc		19,798
	12,199	*	Overstock.com, Inc		129
	17,507	*,e	Party City Holdco, Inc		100
	12,813	e	Penske Auto Group, Inc		606
	14,105	e	PetMed Express, Inc		254
	24,507		Pool Corp		4,943
	53,361	*	Quotient Technology, Inc		417
	260,506	*	Qurate Retail Group, Inc QVC Group		2,687
	30,873		Rent-A-Center, Inc		796
	10,459	*,e	RH		1,787
	228,656		Ross Stores, Inc		25,118
	30,967	*	Rubicon Project, Inc		270
	66,571	*	Sally Beauty Holdings, Inc		991
	2,356	e	Shoe Carnival, Inc		76
	13,499		Shutterstock, Inc		488
	38,798	e	Signet Jewelers Ltd		650
	15,272	*	Sleep Number Corp		631
	20,728		Sonic Automotive, Inc (Class A)		651
	19,952	*	Sportsman’s Warehouse Holdings, Inc		103
	11,437	*	Stamps.com, Inc		852
	27,087	*,e	Stitch Fix Inc		521
	26,598	e	Tailored Brands, Inc		117
	317,565		Target Corp		33,951
	78,944		Tiffany & Co		7,313
	24,339		Tile Shop Holdings, Inc		78
	6,790		Tilly’s, Inc		64
	779,371		TJX Companies, Inc		43,442
	75,463		Tractor Supply Co		6,825
	37,822	*	Ulta Beauty, Inc		9,480
	50,352	*,e	Urban Outfitters, Inc		1,414
	33,890	*,e	Waitr Holdings Inc		44
	38,206	*,e	Wayfair, Inc		4,284

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	5,214		Weyco Group, Inc	$	118
	56,628	e	Williams-Sonoma, Inc		3,850
	1,945		Winmark Corp		343
	11,661	*	Zumiez, Inc		369
			TOTAL RETAILING		1,123,295
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.7%
	24,223	*	Acacia Communications, Inc		1,584
	26,575	*	Advanced Energy Industries, Inc		1,526
	651,395	*	Advanced Micro Devices, Inc		18,884
	15,539	*	Alpha & Omega Semiconductor Ltd		191
	23,188	*	Ambarella, Inc		1,457
	73,241	*	Amkor Technology, Inc		666
	236,186		Analog Devices, Inc		26,389
	604,864		Applied Materials, Inc		30,183
	20,849	*	Axcelis Technologies, Inc		356
	26,991	*	AXT, Inc		96
	247,379		Broadcom, Inc		68,294
	49,923		Brooks Automation, Inc		1,849
	18,819	e	Cabot Microelectronics Corp		2,657
	15,710	*	Ceva, Inc		469
	46,452	*	Cirrus Logic, Inc		2,489
	26,675		Cohu, Inc		360
	70,502	*	Cree, Inc		3,455
	212,283		Cypress Semiconductor Corp		4,955
	28,713	*	Diodes, Inc		1,153
	14,071	*	DSP Group, Inc		198
	86,577		Entegris, Inc		4,074
	49,996	*	First Solar, Inc		2,900
	51,293	*	Formfactor, Inc		956
	8,421	*	Ichor Holdings Ltd		204
	13,074	*,e	Impinj, Inc		403
	29,376	*	Inphi Corp		1,793
	2,853,703		Intel Corp		147,051
	102,996		Kla-Tencor Corp		16,423
	94,245		Lam Research Corp		21,781
	75,431	*	Lattice Semiconductor Corp		1,379
	29,103	*,e	MA-COM Technology Solutions		626
	425,994		Marvell Technology Group Ltd		10,637
	173,048		Maxim Integrated Products, Inc		10,021
	43,500	*	MaxLinear, Inc		973
	148,473	e	Microchip Technology, Inc		13,795
	707,273	*	Micron Technology, Inc		30,307
	31,711	e	MKS Instruments, Inc		2,926
	28,750		Monolithic Power Systems, Inc		4,474
	18,167	*	Nanometrics, Inc		593
	21,168	*	NeoPhotonics Corp Ltd		129
	3,184		NVE Corp		211
	374,262		NVIDIA Corp		65,148
	248,719	*	ON Semiconductor Corp		4,778
	20,605	*	PDF Solutions, Inc		269
	46,544	*	Photronics, Inc		506
	20,135		Power Integrations, Inc		1,821
	75,484	*	Qorvo, Inc		5,596

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	781,785		QUALCOMM, Inc	$	59,635
	79,664	*	Rambus, Inc		1,046
	22,659	*	Rudolph Technologies, Inc		597
	47,350	*	Semtech Corp		2,302
	28,958	*	Silicon Laboratories, Inc		3,224
	109,883		Skyworks Solutions, Inc		8,708
	2,025	*	SMART Global Holdings, Inc		52
	42,585	*,e	SunPower Corp		467
	104,125		Teradyne, Inc		6,030
	601,105		Texas Instruments, Inc		77,687
	23,500	*	Ultra Clean Holdings		344
	27,466		Universal Display Corp		4,611
	34,384	*	Veeco Instruments, Inc		402
	67,027		Versum Materials, Inc		3,548
	160,872		Xilinx, Inc		15,428
	35,485		Xperi Corp		734
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		701,800
SOFTWARE & SERVICES - 12.1%
	36,774	*	2U, Inc		599
	65,506	*,e	8x8, Inc		1,357
	32,215	*	A10 Networks, Inc		224
	408,224		Accenture plc		78,522
	86,241	*,e	ACI Worldwide, Inc		2,701
	312,340	*	Adobe, Inc		86,284
	102,915	*	Akamai Technologies, Inc		9,404
	14,717	*	Alarm.com Holdings, Inc		686
	28,706		Alliance Data Systems Corp		3,678
	16,908	*	Altair Engineering, Inc		585
	29,506	*,e	Alteryx, Inc		3,170
	86,274		Amdocs Ltd		5,704
	15,720	*	American Software, Inc (Class A)		236
	53,266	*	Anaplan, Inc		2,503
	54,342	*	Ansys, Inc		12,029
	5,867	*,e	Appfolio, Inc		558
	20,140	*,e	Appian Corp		957
	44,157	*	Aspen Technology, Inc		5,435
	64,859	*	Atlassian Corp plc		8,136
	141,691	*	Autodesk, Inc		20,928
	278,315		Automatic Data Processing, Inc		44,926
	27,680	*	Avalara, Inc		1,863
	70,813	*	Avaya Holdings Corp		724
	11,374	*	Benefitfocus, Inc		271
	96,845	*	Black Knight, Inc		5,913
	34,044		Blackbaud, Inc		3,076
	21,965	*	Blackline, Inc		1,050
	87,893		Booz Allen Hamilton Holding Co		6,242
	29,562	*	Bottomline Technologies, Inc		1,163
	86,219	*,e	Box, Inc		1,428
	20,694	*	Brightcove, Inc		217
	73,081		Broadridge Financial Solutions, Inc		9,093
	17,838	*	CACI International, Inc (Class A)		4,125
	184,754	*	Cadence Design Systems, Inc		12,209

312

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	36,621	*	Carbon Black, Inc	$	952
	18,030	*,e	Carbonite, Inc		279
	33,955	*	Cardtronics plc		1,027
	10,596		Cass Information Systems, Inc		572
	76,663		CDK Global, Inc		3,687
	52,119	*	Ceridian HCM Holding, Inc		2,573
	15,814	*	ChannelAdvisor Corp		148
	26,536	*	Cision Ltd		204
	74,772		Citrix Systems, Inc		7,217
	114,390	*,e	Cloudera, Inc		1,013
	359,992		Cognizant Technology Solutions Corp (Class A)		21,695
	28,135	*	Commvault Systems, Inc		1,258
	137,713	*	Conduent, Inc		857
	37,259	*	Cornerstone OnDemand, Inc		2,043
	36,045	*	Coupa Software, Inc		4,670
	24,883		CSG Systems International, Inc		1,286
	7,264	*,e	Digimarc Corp		284
	49,997	*,e	Digital Turbine, Inc		322
	99,229	*	DocuSign, Inc		6,144
	11,005	*,e	Domo, Inc		176
	137,416	*	Dropbox, Inc		2,772
	166,357		DXC Technology Co		4,908
	23,362	*	Dynatrace, Inc		436
	17,480	e	Ebix, Inc		736
	24,228	*,e	Elastic NV		1,995
	43,380	*	Endurance International Group Holdings, Inc		163
	30,234	*	Envestnet, Inc		1,714
	34,220	*	EPAM Systems, Inc		6,239
	30,598	*	Euronet Worldwide, Inc		4,476
	21,053	*,e	Everbridge, Inc		1,299
	45,885	*	Everi Holdings, Inc		388
	44,094		EVERTEC, Inc		1,377
	10,859	*	Evo Payments, Inc		305
	32,121	*,e	Exela Technologies, Inc		38
	21,916	*	ExlService Holdings, Inc		1,467
	18,220	*	Fair Isaac Corp		5,530
	392,749		Fidelity National Information Services, Inc		52,141
	127,712	*	FireEye, Inc		1,704
	48,580	*	First American Corp		2,248
	361,630	*	Fiserv, Inc		37,461
	37,675	*,e	Five9, Inc		2,025
	55,426	*	FleetCor Technologies, Inc		15,895
	19,555	*	ForeScout Technologies, Inc		742
	92,111	*	Fortinet, Inc		7,070
	58,348	*	Gartner, Inc		8,343
	97,664		Genpact Ltd		3,784
	191,715		Global Payments, Inc		30,483
	111,509	*	GoDaddy, Inc		7,357
	52,363	*	Guidewire Software, Inc		5,518
	17,956		Hackett Group, Inc		296
	24,272	*	HubSpot, Inc		3,680
	9,245	*	I3 Verticals, Inc		186
	24,668	*	Information Services Group, Inc		61
	15,324	*,e	Instructure, Inc		594

313

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	4,355	*,e	Intelligent Systems Corp	$	181
	568,219		International Business Machines Corp		82,630
	160,246		Intuit, Inc		42,616
	33,493		j2 Global, Inc		3,042
	51,199		Jack Henry & Associates, Inc		7,474
	104,383		KBR, Inc		2,562
	85,918		Leidos Holdings, Inc		7,379
	50,961	*	Limelight Networks, Inc		154
	40,701	*,e	Liveperson, Inc		1,453
	44,500	*,e	LiveRamp Holdings, Inc		1,912
	36,974		LogMeIn, Inc		2,624
	48,035	*	Manhattan Associates, Inc		3,875
	18,418		Mantech International Corp (Class A)		1,315
	577,772		MasterCard, Inc (Class A)		156,906
	36,930		MAXIMUS, Inc		2,853
	9,986	*,e	Medallia, Inc		274
	4,868,604		Microsoft Corp		676,882
	6,844	*	MicroStrategy, Inc (Class A)		1,015
	22,456	*	Mitek Systems, Inc		217
	40,466	*	MobileIron, Inc		265
	14,483	*	Model N, Inc		402
	26,856	*,e	MongoDB, Inc		3,236
	29,292		Monotype Imaging Holdings, Inc		580
	30,028	*	New Relic, Inc		1,845
	46,584		NIC, Inc		962
	176,319	*	Nuance Communications, Inc		2,876
	92,944	*	Nutanix, Inc		2,440
	66,319	*,e	Okta, Inc		6,530
	21,489	*	OneSpan, Inc		312
	1,443,052		Oracle Corp		79,411
	6,520	*,e	Pagerduty, Inc		184
	59,973	*	Palo Alto Networks, Inc		12,224
	210,767		Paychex, Inc		17,445
	31,529	*	Paycom Software, Inc		6,605
	18,614	*	Paylocity Holding Corp		1,816
	754,870	*	PayPal Holdings, Inc		78,197
	19,229	*,e	Paysign Inc		194
	26,462		Pegasystems, Inc		1,801
	25,493	*	Perficient, Inc		984
	95,646		Perspecta, Inc		2,498
	40,409	*,e	Pluralsight, Inc		679
	13,412		Presidio, Inc		227
	31,483		Progress Software Corp		1,198
	34,295	*	Proofpoint, Inc		4,426
	19,034	*	PROS Holdings, Inc		1,134
	67,535	*	PTC, Inc		4,605
	22,395	*	Q2 Holdings, Inc		1,766
	7,729		QAD, Inc (Class A)		357
	22,512	*	Qualys, Inc		1,701
	31,056	*	Rapid7, Inc		1,410
	42,414	*,e	RealPage, Inc		2,666
	44,988	*	RingCentral, Inc		5,653
	186,641		Sabre Corp		4,180

314

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	35,043	*	SailPoint Technologies Holding, Inc	$	655
	526,847	*	salesforce.com, Inc		78,205
	38,338		Science Applications International Corp		3,349
	4,599	*,e	SecureWorks Corp		59
	119,412	*	ServiceNow, Inc		30,313
	4,906	*,e	ShotSpotter, Inc		113
	55,308	*	Smartsheet, Inc		1,993
	16,667	*,e	SolarWinds Corp		307
	98,246	*	Splunk, Inc		11,579
	24,492	*	SPS Commerce, Inc		1,153
	216,363	*	Square, Inc		13,404
	140,643		SS&C Technologies Holdings, Inc		7,253
	54,194	*	SVMK, Inc		927
	25,754	e	Switch, Inc		402
	29,262	*	Sykes Enterprises, Inc		897
	376,572		Symantec Corp		8,898
	94,245	*	Synopsys, Inc		12,935
	27,913	*	Telaria, Inc		193
	20,400	*	TeleNav, Inc		98
	8,418	*	Tenable Holdings, Inc		188
	76,002	*	Teradata Corp		2,356
	85,228		TiVo Corp		649
	24,614	*	Trade Desk, Inc		4,616
	10,054		TTEC Holdings, Inc		481
	6,516	*,e	Tucows, Inc		353
	74,964	*,e	Twilio, Inc		8,243
	24,426	*	Tyler Technologies, Inc		6,412
	38,674	*,e	Unisys Corp		287
	4,914	*	Upland Software, Inc		171
	18,823	*	Varonis Systems, Inc		1,125
	45,384	*	Verint Systems, Inc		1,942
	67,876	*	VeriSign, Inc		12,803
	63,620	*,e	Verra Mobility Corp		913
	32,131	*,e	VirnetX Holding Corp		173
	19,953	*	Virtusa Corp		719
	1,119,783		Visa, Inc (Class A)		192,614
	50,493		VMware, Inc (Class A)		7,577
	279,835		Western Union Co		6,484
	27,596	*	WEX, Inc		5,576
	103,705	*	Workday, Inc		17,626
	16,351	*	Workiva, Inc		717
	55,032	*,e	Yext, Inc		874
	69,807	*,e	Zendesk, Inc		5,088
	42,422	*	Zix Corp		307
	40,123	*	Zscaler, Inc		1,896
	55,037	*,e	Zuora Inc		828
			TOTAL SOFTWARE & SERVICES		2,305,758
TECHNOLOGY HARDWARE & EQUIPMENT - 5.6%
	74,639	*,e	3D Systems Corp		608
	35,649		Adtran, Inc		404
	11,056	*	Agilysys, Inc		283
	182,877		Amphenol Corp (Class A)		17,648
	21,094	*	Anixter International, Inc		1,458

315

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	2,910,336		Apple, Inc	$	651,828
	13,189	*,e	Applied Optoelectronics, Inc		148
	36,466	*	Arista Networks, Inc		8,712
	47,303	*	Arlo Technologies, Inc		161
	48,820	*	Arrow Electronics, Inc		3,641
	24,161	*,e	Avid Technology, Inc		150
	63,498		Avnet, Inc		2,825
	34,410		AVX Corp		523
	19,362		Badger Meter, Inc		1,040
	7,316		Bel Fuse, Inc (Class B)		110
	30,293		Belden CDT, Inc		1,616
	35,867		Benchmark Electronics, Inc		1,042
	26,799	*	CalAmp Corp		309
	28,887	*	Calix, Inc		185
	9,824	*	Casa Systems, Inc		77
	89,645		CDW Corp		11,048
	88,003	*	Ciena Corp		3,452
	2,757,606		Cisco Systems, Inc		136,253
	8,964	*	Clearfield, Inc		106
	110,414		Cognex Corp		5,425
	17,685	*	Coherent, Inc		2,718
	122,398	*	CommScope Holding Co, Inc		1,439
	16,237		Comtech Telecommunications Corp		528
	486,107		Corning, Inc		13,864
	23,637		CTS Corp		765
	27,847		Daktronics, Inc		206
	98,960	*	Dell Technologies, Inc		5,132
	53,560	*	Diebold, Inc		600
	18,652	*	Digi International, Inc		254
	39,659		Dolby Laboratories, Inc (Class A)		2,564
	33,587	*	EchoStar Corp (Class A)		1,331
	9,278	*	ePlus, Inc		706
	79,396	*	Extreme Networks, Inc		578
	38,706	*	F5 Networks, Inc		5,435
	26,560	*	Fabrinet		1,389
	12,851	*	FARO Technologies, Inc		621
	124,310	*,e	Fitbit, Inc		474
	84,050		Flir Systems, Inc		4,420
	58,321	*	Harmonic, Inc		384
	874,985		Hewlett Packard Enterprise Co		13,273
	974,044		HP, Inc		18,429
	60,911	*,h	II-VI, Inc		2,145
	21,661	*	Immersion Corp		166
	103,799	*,e	Infinera Corp		566
	25,682	*	Insight Enterprises, Inc		1,430
	25,007		InterDigital, Inc		1,312
	25,495	*	IPG Photonics Corp		3,457
	18,293	*	Iteris, Inc		105
	24,355	*	Itron, Inc		1,801
	88,419		Jabil Circuit, Inc		3,163
	201,956		Juniper Networks, Inc		4,998
	32,485	e	Kemet Corp		591
	121,590	*	Keysight Technologies, Inc		11,825

316

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	21,162	*	Kimball Electronics, Inc	$	307
	64,648	*	Knowles Corp		1,315
	10,929	*	KVH Industries, Inc		116
	17,448		Littelfuse, Inc		3,094
	51,429	*,e	Lumentum Holdings, Inc		2,754
	25,950		Methode Electronics, Inc		873
	103,697		Motorola Solutions, Inc		17,671
	12,096		MTS Systems Corp		668
	7,937	*,e	Napco Security Technologies, Inc		203
	76,957		National Instruments Corp		3,231
	68,992	*	NCR Corp		2,177
	158,593		NetApp, Inc		8,328
	23,887	*	Netgear, Inc		770
	64,175	*	Netscout Systems, Inc		1,480
	4,719	*	nLight, Inc		74
	23,522	*	Novanta, Inc		1,922
	12,827	*	OSI Systems, Inc		1,303
	7,480	*,e	PAR Technology Corp		178
	14,228		Park Aerospace Corp		250
	8,216		PC Connection, Inc		320
	24,496	e	Plantronics, Inc		914
	24,305	*	Plexus Corp		1,519
	148,433	*	Pure Storage, Inc		2,514
	37,508	*	Ribbon Communications, Inc		219
	12,852	*	Rogers Corp		1,757
	52,368	*	Sanmina Corp		1,681
	17,777	*	Scansource, Inc		543
	37,383	*	Stratasys Ltd		796
	25,356	*	Synaptics, Inc		1,013
	23,676		Synnex Corp		2,673
	19,502	*	Tech Data Corp		2,033
	162,259	*	Trimble Navigation Ltd		6,297
	66,124	*	TTM Technologies, Inc		806
	9,730	e	Ubiquiti, Inc		1,151
	38,380	*	Viasat, Inc		2,891
	165,919	*	Viavi Solutions, Inc		2,324
	97,366		Vishay Intertechnology, Inc		1,648
	9,508	*	Vishay Precision Group, Inc		311
	197,112		Western Digital Corp		11,756
	105,309		Xerox Holdings Corp		3,150
	33,846	*	Zebra Technologies Corp (Class A)		6,985
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,055,736
TELECOMMUNICATION SERVICES - 2.0%
	7,472	*	Anterix, Inc		270
	4,699,286		AT&T, Inc		177,821
	7,918		ATN International, Inc		462
	10,381	*	Bandwidth Inc		676
	27,406	*,e	Boingo Wireless, Inc		304
	707,474		CenturyLink, Inc		8,829
	33,512	*	Cincinnati Bell, Inc		170
	29,776		Cogent Communications Group, Inc		1,641
	48,355	e	Consolidated Communications Holdings, Inc		230
	42,541	*,e	Gogo, Inc		257

317

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	23,607	*,e	Intelsat S.A.	$	538
	60,764	*	Iridium Communications, Inc		1,293
	13,047	*	Ooma, Inc		136
	44,329	*	Orbcomm, Inc		211
	33,638		Shenandoah Telecom Co		1,069
	14,641		Spok Holdings, Inc		175
	368,092	*	Sprint Corp		2,271
	70,982		Telephone & Data Systems, Inc		1,831
	199,928	*	T-Mobile US, Inc		15,748
	9,529	*	US Cellular Corp		358
	2,658,762		Verizon Communications, Inc		160,483
	143,849	*	Vonage Holdings Corp		1,626
	134,804	*	Zayo Group Holdings, Inc		4,570
			TOTAL TELECOMMUNICATION SERVICES		380,969
TRANSPORTATION - 1.9%
	37,928	*	Air Transport Services Group, Inc		797
	77,886		Alaska Air Group, Inc		5,056
	8,722	e	Allegiant Travel Co		1,305
	5,687		Amerco, Inc		2,218
	251,590		American Airlines Group, Inc		6,785
	19,331		Arkansas Best Corp		589
	16,948	*,e	Atlas Air Worldwide Holdings, Inc		428
	41,208	*	Avis Budget Group, Inc		1,165
	81,564		CH Robinson Worldwide, Inc		6,915
	21,812		Copa Holdings S.A. (Class A)		2,154
	23,634		Costamare, Inc		143
	8,672	*	Covenant Transportation Group, Inc		143
	489,139		CSX Corp		33,883
	14,173	*,e	Daseke, Inc		35
	369,580		Delta Air Lines, Inc		21,288
	28,818	*,e	Eagle Bulk Shipping, Inc		126
	21,041	*	Echo Global Logistics, Inc		477
	104,823		Expeditors International of Washington, Inc		7,787
	152,628		FedEx Corp		22,218
	20,963		Forward Air Corp		1,336
	6,118	*,e	Genco Shipping & Trading Ltd		56
	32,052	*	Genesee & Wyoming, Inc (Class A)		3,542
	36,387		Hawaiian Holdings, Inc		955
	33,759		Heartland Express, Inc		726
	67,804	*	Hertz Global Holdings, Inc		938
	21,791	*	Hub Group, Inc (Class A)		1,013
	56,707	e	JB Hunt Transport Services, Inc		6,275
	182,861	*	JetBlue Airways Corp		3,063
	64,963		Kansas City Southern Industries, Inc		8,641
	37,438	*	Kirby Corp		3,076
	87,818	e	Knight-Swift Transportation Holdings, Inc		3,188
	25,122		Landstar System, Inc		2,828
	21,177	*	Lyft, Inc (Class A)		865
	55,800		Macquarie Infrastructure Co LLC		2,202
	23,235		Marten Transport Ltd		483
	32,238		Matson, Inc		1,209
	169,922		Norfolk Southern Corp		30,528

318

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	43,304		Old Dominion Freight Line	$	7,360
	6,136		Park-Ohio Holdings Corp		183
	29,335	*	Radiant Logistics, Inc		152
	30,762		Ryder System, Inc		1,593
	33,371	*,e	Safe Bulkers, Inc		58
	18,094	*	Saia, Inc		1,695
	22,723		Schneider National, Inc		494
	40,927		Scorpio Bulkers, Inc		249
	37,279		Skywest, Inc		2,140
	310,708		Southwest Airlines Co		16,781
	50,261	*	Spirit Airlines, Inc		1,824
	117,286	*,e	Uber Technologies, Inc		3,574
	454,078		Union Pacific Corp		73,552
	148,318	*	United Continental Holdings, Inc		13,113
	444,924		United Parcel Service, Inc (Class B)		53,311
	6,297		Universal Truckload Services, Inc		147
	14,010	*	US Xpress Enterprises, Inc		68
	31,167	e	Werner Enterprises, Inc		1,100
	59,513	*,e	XPO Logistics, Inc		4,259
	23,809	*,e	YRC Worldwide, Inc		72
			TOTAL TRANSPORTATION		366,161
UTILITIES - 3.5%
	451,060		AES Corp		7,370
	30,256		Allete, Inc		2,645
	148,965		Alliant Energy Corp		8,034
	150,299		Ameren Corp		12,031
	315,843		American Electric Power Co, Inc		29,591
	25,230		American States Water Co		2,267
	117,462		American Water Works Co, Inc		14,592
	134,955		Aqua America, Inc		6,050
	8,231	*,e	AquaVenture Holdings Ltd		160
	4,909		Artesian Resources Corp		182
	92,825	*,e	Atlantic Power Corp		217
	75,733		Atmos Energy Corp		8,625
	27,653		Avangrid, Inc		1,445
	33,562		Avista Corp		1,626
	36,321		Black Hills Corp		2,787
	15,011	*,e	Cadiz, Inc		187
	35,650		California Water Service Group		1,887
	318,428		Centerpoint Energy, Inc		9,610
	11,318		Chesapeake Utilities Corp		1,079
	24,011		Clearway Energy, Inc (Class A)		416
	47,061		Clearway Energy, Inc (Class C)		859
	179,117		CMS Energy Corp		11,455
	8,405		Connecticut Water Service, Inc		589
	213,967		Consolidated Edison, Inc		20,213
	10,961		Consolidated Water Co, Inc		181
	513,879		Dominion Resources, Inc		41,645
	114,355		DTE Energy Co		15,205
	467,679		Duke Energy Corp		44,832
	223,082		Edison International		16,825
	27,569		El Paso Electric Co		1,849
	123,427		Entergy Corp		14,485

319

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	156,194		Evergy, Inc	$	10,396
	203,372		Eversource Energy		17,382
	616,675		Exelon Corp		29,792
	333,198		FirstEnergy Corp		16,070
	6,410		Global Water Resources, Inc		76
	57,379		Hawaiian Electric Industries, Inc		2,617
	30,421		Idacorp, Inc		3,428
	119,020		MDU Resources Group, Inc		3,355
	24,502		MGE Energy, Inc		1,957
	11,759		Middlesex Water Co		764
	44,613		National Fuel Gas Co		2,093
	62,202		New Jersey Resources Corp		2,813
	306,246		NextEra Energy, Inc		71,352
	234,601		NiSource, Inc		7,019
	14,483		Northwest Natural Holding Co		1,033
	35,112		NorthWestern Corp		2,635
	166,684		NRG Energy, Inc		6,601
	128,226		OGE Energy Corp		5,819
	36,272		ONE Gas, Inc		3,486
	26,977		Ormat Technologies, Inc		2,004
	27,545		Otter Tail Corp		1,481
	50,689		Pattern Energy Group, Inc		1,365
	313,259	*,b	PG&E Corp		3,133
	73,930		Pinnacle West Capital Corp		7,176
	55,254		PNM Resources, Inc		2,878
	60,652		Portland General Electric Co		3,419
	461,227		PPL Corp		14,524
	324,517		Public Service Enterprise Group, Inc		20,146
	11,616	*	Pure Cycle Corp		119
	4,887		RGC Resources, Inc		143
	176,334		Sempra Energy		26,029
	12,005		SJW Corp		820
	58,642		South Jersey Industries, Inc		1,930
	668,547		Southern Co		41,296
	34,400		Southwest Gas Corp		3,132
	7,544	e	Spark Energy, Inc		80
	33,979		Spire, Inc		2,964
	49,399		TerraForm Power, Inc		900
	132,205		UGI Corp		6,646
	10,272		Unitil Corp		652
	255,191		Vistra Energy Corp		6,821
	202,695		WEC Energy Group, Inc		19,276
	334,606		Xcel Energy, Inc		21,713
	9,006		York Water Co		393
			TOTAL UTILITIES		656,667
			TOTAL COMMON STOCKS		18,899,771
			(Cost $8,187,938)
RIGHTS / WARRANTS - 0.0%
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	80,085	†	Media General, Inc		0
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		0

320

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(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%
	4,045	†	Omthera Pharmaceuticals, Inc		2
	6,981	†	Tobira Therapeutics, Inc		0	^
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2
			TOTAL RIGHTS / WARRANTS		58
			(Cost $206)

					MATURITY
PRINCIPAL		ISSUER	RATE		DATE
SHORT-TERM INVESTMENTS - 2.0%
GOVERNMENT AGENCY DEBT - 0.2%
$	27,380,000	Federal Home Loan Bank (FHLB)	1.580	%	10/01/19	27,380
	18,460,000	FHLB	1.921		10/08/19	18,453
		TOTAL GOVERNMENT AGENCY DEBT				45,833
TREASURY DEBT - 0.1%
	17,930,000	United States Treasury Bill	1.850		10/01/19	17,930
	4,350,000	United States Treasury Bill	1.781		10/17/19	4,347
		TOTAL TREASURY DEBT				22,277

SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.7%
	322,958,638	c	State Street Navigator Securities Lending Government Money Market Portfolio		322,959
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		322,959
			TOTAL SHORT-TERM INVESTMENTS		391,069
			(Cost $391,069)
			TOTAL INVESTMENTS - 101.6%		19,290,898
			(Cost $8,579,213)
			OTHER ASSETS & LIABILITIES, NET - (1.6)%		(312,697	)
			NET ASSETS - 100.0%	$	18,978,201

Abbreviation(s):

REIT     Real Estate Investment Trust

321

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
b	In bankruptcy
c	Investments made with cash collateral received from securities on loan.
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $347,333,847.
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 September 30, 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	68	12/20/19	$	5,369	$	5,185	$	(184)
S&P 500 E Mini Index	325	12/20/19		48,813		48,400		(413)
S&P Mid-Cap 400 E Mini Index	21	12/20/19		4,129		4,070		(59)
Total	414		$	58,311	$	57,655	$	(656)

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND
BOND MARKET ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2019

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.2%
CAPITAL GOODS - 0.0%
$	313,861	i	Avolon TLB Borrower US LLC	LIBOR 1 M + 1.750%	3.794	%	01/15/25	$	315
	1,462,500	i	Berry Global, Inc	LIBOR 1 M + 2.250%	4.299		01/19/24		1,468
	1,382,412	i	TransDigm, Inc	LIBOR 1 M + 2.500%	4.544		08/22/24		1,375
			TOTAL CAPITAL GOODS						3,158
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
	1,039,500	i	United Rentals North America, Inc	LIBOR 1 M + 1.750%	3.794		10/31/25		1,044
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						1,044
CONSUMER DURABLES & APPAREL - 0.0%
	884,250	i	Hanesbrands, Inc	LIBOR 1 M + 1.750%	3.794		12/16/24		890
	1,481,250	i	Samsonite IP Holdings Sarl	LIBOR 1 M + 1.750%	3.794		04/25/25		1,449
			TOTAL CONSUMER DURABLES & APPAREL						2,339
CONSUMER SERVICES - 0.0%
	470,534	i	1011778 BC / New Red Finance, Inc	LIBOR 1 M + 2.250%	4.294		02/16/24		472
	445,914	i	Boyd Gaming Corp	LIBOR 1 W + 2.250%	4.166		09/15/23		447
	703,449	i	YUM! Brands	LIBOR 1 M + 1.750%	3.791		04/03/25		704
			TOTAL CONSUMER SERVICES						1,623
FOOD, BEVERAGE & TOBACCO - 0.0%
	595,227	i	Post Holdings, Inc	LIBOR 1 M + 2.000%	4.040		05/24/24		597
			TOTAL FOOD, BEVERAGE & TOBACCO						597
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	122,188	i	Endo Luxembourg Finance I Co Sarl	LIBOR 1 M + 4.250%	5.500		04/29/24		111
	1,036,653	i	Envision Healthcare Corp	LIBOR 1 M + 3.750%	5.794		10/10/25		843
	163,086	i	Mallinckrodt International Finance S.A.	LIBOR 3 M + 2.750%	4.854		09/24/24		122
	947,771	i	Team Health Holdings, Inc	LIBOR 1 M + 2.750%	4.794		02/06/24		1,178
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						2,254
MATERIALS - 0.1%
	491,250	i	Ineos US Finance LLC	LIBOR 1 M + 2.000%	4.044		03/31/24		485
	1,194,000	i	Messer Industries USA, Inc	LIBOR 3 M + 2.500%	4.604		03/01/26		1,191
	1,390,506	i	PolyOne Corp	LIBOR 1 M + 1.750%	3.778		01/30/26		1,391
	447,750	i	Starfruit US Holdco LLC	LIBOR 1 M + 3.250%	5.292		10/01/25		438
			TOTAL MATERIALS						3,505
MEDIA & ENTERTAINMENT - 0.0%
	723,188	i	CSC Holdings LLC	LIBOR 1 M + 3.000%	5.028		04/15/27		723
	979,460	i	Lions Gate Capital Holdings LLC	LIBOR 1 M + 2.250%	4.294		03/24/25		976
	537,234	i	Nielsen Finance LLC	LIBOR 1 M + 2.000%	4.042		10/04/23		537
			TOTAL MEDIA & ENTERTAINMENT						2,236

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
$	391,495	i	Change Healthcare Holdings LLC	LIBOR 1 M + 2.500%	4.544	%	03/01/24	$	390
	1,308,317	i	Valeant Pharmaceuticals International, Inc	LIBOR 1 M + 3.000%	5.039		06/02/25		1,313
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						1,703
REAL ESTATE - 0.1%
	1,386,000	i	DTZ US Borrower LLC	LIBOR 1 M + 3.250%	5.294		08/21/25		1,387
	1,875,411	i	MGM Growth Properties LLC	LIBOR 1 M + 2.000%	4.044		03/23/25		1,878
			TOTAL REAL ESTATE						3,265
SOFTWARE & SERVICES - 0.0%
	97,270	i	Sabre GLBL, Inc	LIBOR 1 M + 2.000%	4.044		02/22/24		98
			TOTAL SOFTWARE & SERVICES						98
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	1,435,768	i	Dell International LLC	LIBOR 1 M + 2.000%	4.050		09/19/25		1,442
	1,259,245	i	Plantronics, Inc	LIBOR 1 M + 2.500%	4.544		07/02/25		1,256
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						2,698
TRANSPORTATION - 0.0%
	1,659,808	i	American Airlines, Inc	LIBOR 1 M + 2.000%	4.028		12/14/23		1,658
	296,203	i	Vouvray US Finance, LLC	LIBOR 1 M + 3.000%	5.044		03/11/24		412
			TOTAL TRANSPORTATION						2,070
UTILITIES - 0.0%
	750,000	i	Virgin Media Bristol LLC	LIBOR 1 M + 2.500%	4.528		01/15/26		750
			TOTAL UTILITIES						750
			TOTAL BANK LOAN OBLIGATIONS						27,340
			(Cost $27,997)
BONDS - 97.4%
CORPORATE BONDS - 33.5%
AUTOMOBILES & COMPONENTS - 0.3%
EUR	650,000	g	Adient Global Holdings Ltd		3.500		08/15/24		600
$	6,950,000		General Motors Co		6.600		04/01/36		7,965
	3,350,000		General Motors Co		6.250		10/02/43		3,660
	6,500,000		General Motors Co		5.200		04/01/45		6,416
	1,925,000		General Motors Co		6.750		04/01/46		2,201
	4,000,000	g	Hyundai Capital America		4.125		06/08/23		4,174
	4,500,000	g	Hyundai Capital America		2.750		09/27/26		4,385
EUR	400,000	g,o	IHO Verwaltungs GmbH		3.750		09/15/26		448
$	8,675,000		Magna International, Inc		3.625		06/15/24		9,122
			TOTAL AUTOMOBILES & COMPONENTS						38,971
BANKS - 7.0%
	3,075,000	g,i	Akbank TAS	USD SWAP SEMI 30/360 5 Y + 5.026%	7.200		03/16/27		2,869
	3,220,000	g	Banco de Credito del Peru		2.700		01/11/25		3,220
	4,400,000	g	Banco del Estado de Chile		2.668		01/08/21		4,400
	300,000	g	Banco General S.A.		4.125		08/07/27		314
	3,800,000	g	Banco Internacional del Peru SAA Interbank		3.375		01/18/23		3,843

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	3,800,000		Banco Santander S.A.		3.800	%	02/23/28	$	3,981
	5,000,000	g	Bank Nederlandse Gemeenten		2.625		04/28/21		5,060
	2,350,000	g	Bank Nederlandse Gemeenten NV		2.500		02/28/20		2,354
	15,900,000		Bank of America Corp		2.151		11/09/20		15,902
	15,000,000		Bank of America Corp		3.864		07/23/24		15,798
EUR	400,000		Bank of America Corp		1.375		03/26/25		466
$	10,200,000		Bank of America Corp		3.875		08/01/25		11,033
	8,000,000		Bank of America Corp		4.250		10/22/26		8,668
	14,900,000		Bank of America Corp		3.559		04/23/27		15,729
EUR	300,000		Bank of America Corp		1.776		05/04/27		355
$	28,050,000		Bank of America Corp		3.248		10/21/27		29,162
	7,300,000		Bank of America Corp		3.419		12/20/28		7,617
	11,250,000		Bank of America Corp		3.974		02/07/30		12,316
	31,675,000		Bank of America Corp		3.194		07/23/30		32,686
	5,900,000		Barclays plc		4.338		05/16/24		6,164
	10,000,000		Barclays plc		3.932		05/07/25		10,331
	18,400,000	g	BNG Bank NV		3.000		09/20/23		19,316
	20,320,000		Capital One Bank USA NA		2.350		01/31/20		20,326
	9,750,000		Capital One Bank USA NA		2.650		08/08/22		9,862
	20,775,000		Capital One Bank USA NA		3.375		02/15/23		21,410
EUR	250,000		Citigroup, Inc		1.500		07/24/26		290
$	50,075,000		Citigroup, Inc		3.200		10/21/26		51,696
	6,575,000		Citigroup, Inc		4.300		11/20/26		7,075
	22,000,000		Citigroup, Inc		4.450		09/29/27		24,003
	10,850,000		Citigroup, Inc		3.668		07/24/28		11,484
	5,000,000		Citigroup, Inc		5.000		N/A‡		5,061
	7,400,000		Citizens Bank NA		2.650		05/26/22		7,489
	6,875,000		Cooperatieve Rabobank UA		3.950		11/09/22		7,161
	4,500,000	g	Cooperatieve Rabobank UA		2.625		07/22/24		4,556
	15,225,000		Cooperatieve Rabobank UA		3.750		07/21/26		15,797
	5,500,000	g	Credit Agricole S.A.		2.375		07/01/21		5,517
	11,050,000	g	Credit Agricole S.A.		3.250		10/04/24		11,376
	2,450,000	g,i	DBS Group Holdings Ltd	USD ICE SWAP RATE 11:00 NY 5 + 1.590%	4.520		12/11/28		2,606
	4,875,000		Discover Bank		3.200		08/09/21		4,949
	8,200,000		Discover Bank		2.450		09/12/24		8,178
	8,455,000		Discover Bank		3.450		07/27/26		8,720
	5,150,000		HSBC Holdings plc		2.650		01/05/22		5,187
	6,575,000		HSBC Holdings plc		3.262		03/13/23		6,689
GBP	500,000	i	HSBC Holdings plc		2.175		06/27/23		625
$	4,250,000		HSBC Holdings plc		3.033		11/22/23		4,313
	5,750,000		HSBC Holdings plc		3.803		03/11/25		5,990
	6,075,000		HSBC Holdings plc		3.900		05/25/26		6,443
	17,350,000		HSBC Holdings plc		4.292		09/12/26		18,625
	3,825,000		HSBC Holdings plc		4.375		11/23/26		4,102
	6,450,000		HSBC Holdings plc		4.041		03/13/28		6,846
	8,950,000		HSBC Holdings plc		3.973		05/22/30		9,558
	13,025,000		Huntington National Bank		2.500		08/07/22		13,159
	4,350,000	g	ING Groep NV		4.625		01/06/26		4,812
	2,125,000	g	Intercorp Financial Services, Inc		4.125		10/19/27		2,202

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	10,850,000		JPMorgan Chase & Co		2.776	%	04/25/23	$	11,006
	4,850,000		JPMorgan Chase & Co		2.700		05/18/23		4,933
	14,900,000		JPMorgan Chase & Co		3.200		06/15/26		15,485
	21,275,000		JPMorgan Chase & Co		2.950		10/01/26		21,838
EUR	600,000		JPMorgan Chase & Co		1.638		05/18/28		713
$	12,000,000		JPMorgan Chase & Co		4.203		07/23/29		13,333
	24,500,000		JPMorgan Chase & Co		3.702		05/06/30		26,281
	23,075,000		JPMorgan Chase & Co		2.739		10/15/30		22,934
	5,750,000		JPMorgan Chase & Co		3.882		07/24/38		6,314
	46,225,000		JPMorgan Chase Bank NA		3.086		04/26/21		46,469
	200,000	g,h,i	KEB Hana Bank	LIBOR 3 M + 0.700%	2.785		10/02/22		200
	2,700,000		KeyBank NA		2.500		12/15/19		2,701
	9,950,000		Manufacturers & Traders Trust Co		2.100		02/06/20		9,950
	12,500,000		Mitsubishi UFJ Financial Group, Inc		3.761		07/26/23		13,128
	5,700,000		Mitsubishi UFJ Financial Group, Inc		3.195		07/18/29		5,901
	2,450,000		Mitsubishi UFJ Financial Group, Inc		3.751		07/18/39		2,639
	5,700,000		MUFG Americas Holdings Corp		3.500		06/18/22		5,874
	17,000,000		PNC Bank NA		2.600		07/21/20		17,066
	5,625,000		PNC Bank NA		2.450		11/05/20		5,650
	10,950,000		PNC Bank NA		2.700		11/01/22		11,109
	6,000,000		PNC Financial Services Group, Inc		3.900		04/29/24		6,422
	40,000,000		Royal Bank of Canada		1.875		02/05/20		39,958
	30,000,000	g	Royal Bank of Canada		3.350		10/22/21		30,874
	11,800,000		Royal Bank of Canada		2.550		07/16/24		11,962
	9,350,000		Santander Holdings USA, Inc		3.400		01/18/23		9,569
	13,100,000	g	Skandinaviska Enskilda Banken AB		2.625		11/17/20		13,166
	400,000	g	State Bank of India		4.375		01/24/24		424
	6,650,000		Sumitomo Mitsui Banking Corp		2.450		01/16/20		6,655
	3,675,000		Sumitomo Mitsui Financial Group, Inc		2.778		10/18/22		3,729
	11,050,000		Sumitomo Mitsui Financial Group, Inc		2.696		07/16/24		11,176
	6,850,000		SunTrust Bank		3.525		10/26/21		6,946
	5,700,000		SunTrust Bank		2.750		05/01/23		5,801
	5,000,000		SunTrust Bank		4.000		05/01/25		5,405
	3,900,000		SunTrust Bank		4.050		11/03/25		4,262
	13,700,000		Toronto-Dominion Bank		1.850		09/11/20		13,689
	2,350,000	i	Toronto-Dominion Bank	USD SWAP SEMI 30/360 5 Y + 2.205%	3.625		09/15/31		2,428
	3,000,000	g	Turkiye Is Bankasi		6.125		04/25/24		2,880
	5,000,000	g	UBS AG.		2.450		12/01/20		5,018
	5,900,000	g	UBS Group AG.		3.126		08/13/30		5,942
	7,575,000		Wells Fargo Bank NA		3.325		07/23/21		7,644
	10,000,000		Westpac Banking Corp		2.750		01/11/23		10,204
	8,475,000	i	Westpac Banking Corp	USD ICE SWAP RATE 11:00 NY 5 + 2.236%	4.322		11/23/31		8,961
	3,000,000	g	Yapi ve Kredi Bankasi AS.		6.100		03/16/23		2,940
			TOTAL BANKS						987,270
CAPITAL GOODS - 1.1%
GBP	1,000,000		BAE Systems plc		4.125		06/08/22		1,324
$	225,000	g,h	Beacon Roofing Supply, Inc		4.500		11/15/26		227
	3,600,000	g	BOC Aviation Ltd		3.000		09/11/29		3,553
	4,575,000		General Electric Co		4.125		10/09/42		4,618

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	1,925,000	g	Gold Fields Orogen Holdings BVI Ltd	5.125	%	05/15/24	$	2,034
EUR	1,000,000		Illinois Tool Works, Inc	1.250		05/22/23		1,140
$	1,000,000		Ingersoll-Rand Global Holding Co Ltd	3.750		08/21/28		1,067
	8,125,000		Ingersoll-Rand Luxembourg Finance S.A.	3.800		03/21/29		8,651
	2,875,000		Lam Research Corp	3.750		03/15/26		3,069
	3,275,000		Lam Research Corp	4.000		03/15/29		3,612
	8,350,000		Lockheed Martin Corp	2.500		11/23/20		8,387
	6,375,000	g	Molex Electronic Technologies LLC	2.878		04/15/20		6,385
	9,825,000	g	Molex Electronic Technologies LLC	3.900		04/15/25		10,256
	1,725,000		Mosaic Co	4.875		11/15/41		1,705
	8,925,000		Northrop Grumman Corp	3.250		01/15/28		9,369
	3,400,000		Northrop Grumman Corp	4.030		10/15/47		3,854
EUR	500,000		Parker-Hannifin Corp	1.125		03/01/25		567
$	19,200,000		Parker-Hannifin Corp	3.250		06/14/29		20,005
	5,050,000	g	Rolls-Royce plc	2.375		10/14/20		5,056
	1,850,000	g	Rolls-Royce plc	3.625		10/14/25		1,926
	5,475,000		Roper Technologies, Inc	3.800		12/15/26		5,853
	1,750,000		Roper Technologies, Inc	4.200		09/15/28		1,925
	250,000	g	Sigma Alimentos S.A. de C.V.	4.125		05/02/26		258
	350,000	g	Stena AB	7.000		02/01/24		351
	2,075,000		Textron, Inc	3.875		03/01/25		2,191
	650,000		Trimble, Inc	4.900		06/15/28		705
	10,621,000		United Technologies Corp	3.650		08/16/23		11,235
	7,681,000		United Technologies Corp	2.800		05/04/24		7,904
EUR	500,000		United Technologies Corp	1.150		05/18/24		567
$	20,450,000		United Technologies Corp	4.125		11/16/28		23,142
	6,665,000		United Technologies Corp	4.500		06/01/42		7,996
			TOTAL CAPITAL GOODS					158,932
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
	1,875,000		AECOM	5.875		10/15/24		2,038
	2,350,000	g	Prime Security Services Borrower LLC	5.250		04/15/24		2,412
	2,000,000	g	Prime Security Services Borrower LLC	5.750		04/15/26		2,083
EUR	500,000		RELX Capital, Inc	1.300		05/12/25		578
$	11,102,000		Republic Services, Inc	3.550		06/01/22		11,495
	7,971,000		Republic Services, Inc	2.900		07/01/26		8,203
	1,000,000		United Rentals North America, Inc	4.625		10/15/25		1,020
	9,650,000		Waste Management, Inc	2.900		09/15/22		9,903
	3,600,000		Waste Management, Inc	2.950		06/15/24		3,722
	9,700,000		Waste Management, Inc	3.150		11/15/27		10,211
	7,250,000		Waste Management, Inc	3.450		06/15/29		7,820
	2,225,000		Waste Management, Inc	4.100		03/01/45		2,553
	3,475,000		Waste Management, Inc	4.150		07/15/49		4,062
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES					66,100
CONSUMER DURABLES & APPAREL - 0.1%
	1,600,000		Leggett & Platt, Inc	4.400		03/15/29		1,724
	8,075,000		Newell Rubbermaid, Inc	4.200		04/01/26		8,436
	5,100,000		Newell Rubbermaid, Inc	5.500		04/01/46		5,468
			TOTAL CONSUMER DURABLES & APPAREL					15,628

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
CONSUMER SERVICES - 1.0%
$	9,820,000		Amherst College		4.100	%	11/01/45	$	11,543
	29,085,000		Anheuser-Busch Cos LLC		3.650		02/01/26		31,164
	5,500,000		Anheuser-Busch Cos LLC		4.900		02/01/46		6,543
EUR	680,000	g	Aramark International Finance Sarl		3.125		04/01/25		763
$	600,000		Boyd Gaming Corp		6.000		08/15/26		633
	2,000,000		Duke University		3.199		10/01/38		2,089
	4,500,000		George Washington University		3.545		09/15/46		4,879
	1,610,000	g	International Game Technology		6.250		02/15/22		1,699
	1,610,000	g	International Game Technology		6.500		02/15/25		1,787
	750,000		MGM Resorts International		4.625		09/01/26		782
	4,605,000		Northwestern University		3.812		12/01/50		4,841
	8,000,000		President and Fellows of Harvard College		3.529		10/01/31		8,918
	14,250,000		President and Fellows of Harvard College		3.619		10/01/37		15,990
	2,100,000		Sands China Ltd		5.400		08/08/28		2,365
	1,000,000	g	Scientific Games International, Inc		5.000		10/15/25		1,032
EUR	500,000	g	Scientific Games International, Inc		3.375		02/15/26		555
$	2,600,000	g	ServiceMaster Co LLC		5.125		11/15/24		2,697
	15,000,000		Smith College		4.620		07/01/45		18,993
	6,600,000		Trustees of Dartmouth College		3.474		06/01/46		7,118
	21,000,000		University of Chicago		4.151		10/01/45		21,591
			TOTAL CONSUMER SERVICES						145,982
DIVERSIFIED FINANCIALS - 3.4%
	3,500,000		AerCap Ireland Capital DAC		3.650		07/21/27		3,566
	5,525,000		American Express Co		2.500		08/01/22		5,581
	4,000,000		American Express Co		3.700		08/03/23		4,215
	2,775,000		American Express Credit Corp		3.300		05/03/27		2,962
	3,975,000		Ameriprise Financial, Inc		3.000		03/22/22		4,049
	6,000,000		Australia & New Zealand Banking Group Ltd		2.625		05/19/22		6,105
	500,000		AXA Equitable Holdings, Inc		5.000		04/20/48		539
	300,000	g,i	Bangkok Bank PCL	DGS5 + 1.900%	3.733		09/25/34		304
	5,350,000	i	Bank of Montreal	USD SWAP SEMI 30/360 5 Y + 1.432%	3.803		12/15/32		5,549
	300,000	g	BBVA Bancomer S.A.		5.350		11/12/29		298
	4,000,000	g,i	BBVA Bancomer S.A.	DGS5 + 2.650%	5.125		01/18/33		3,810
	10,525,000		Berkshire Hathaway, Inc		3.125		03/15/26		11,120
	2,450,000	g	BPCE S.A.		4.000		09/12/23		2,581
	5,224,000	g	BPCE S.A.		4.625		07/11/24		5,568
	1,733,000	g	BPCE S.A.		4.500		03/15/25		1,841
	26,000,000	g	Canadian Imperial Bank of Commerce		3.150		06/27/21		26,533
EUR	150,000		Capital One Financial Corp		0.800		06/12/24		167
$	9,800,000	g	Credit Suisse Group AG.		2.997		12/14/23		9,893
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		4,194
	7,700,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		8,040
	10,250,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		10,771
	9,200,000		Deutsche Bank AG.		3.950		02/27/23		9,333
EUR	500,000		EDP Finance BV		1.125		02/12/24		567
$	4,975,000		Ford Motor Credit Co LLC		2.425		06/12/20		4,963
	4,000,000		Ford Motor Credit Co LLC		3.096		05/04/23		3,926
	12,925,000		Ford Motor Credit Co LLC		3.815		11/02/27		12,257
	4,825,000		GE Capital International Funding Co		3.373		11/15/25		4,923

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	7,170,000		GE Capital International Funding Co		4.418	%	11/15/35	$	7,521
	1,432,000		General Electric Capital Corp		5.875		01/14/38		1,720
	108,000		General Electric Capital Corp		6.875		01/10/39		143
	5,475,000		General Motors Financial Co, Inc		5.650		01/17/29		6,037
EUR	850,000		Goldman Sachs Group, Inc		2.000		07/27/23		989
$	13,575,000		Goldman Sachs Group, Inc		3.500		01/23/25		14,163
	32,750,000		Goldman Sachs Group, Inc		3.691		06/05/28		34,383
	6,600,000		Goldman Sachs Group, Inc		3.814		04/23/29		6,997
	5,000,000		Goldman Sachs Group, Inc		4.223		05/01/29		5,455
	6,075,000		Goldman Sachs Group, Inc		4.017		10/31/38		6,536
	7,675,000		Goldman Sachs Group, Inc		4.800		07/08/44		9,189
	1,395,855		Golondrina Leasing LLC		1.822		05/03/25		1,392
	1,014,949		Helios Leasing I LLC		2.018		05/29/24		1,017
	1,725,000		Icahn Enterprises LP		5.875		02/01/22		1,743
	3,375,000	g	ICICI Bank Ltd		3.800		12/14/27		3,486
	5,000,000		International Lease Finance Corp		5.875		08/15/22		5,478
	1,305,000		Legg Mason, Inc		3.950		07/15/24		1,382
	7,625,000		Morgan Stanley		3.125		01/23/23		7,822
	2,750,000		Morgan Stanley		3.737		04/24/24		2,872
	24,800,000		Morgan Stanley		3.700		10/23/24		26,273
	8,275,000		Morgan Stanley		2.720		07/22/25		8,370
	37,625,000		Morgan Stanley		3.125		07/27/26		38,749
EUR	700,000		Morgan Stanley		1.342		10/23/26		804
$	1,925,000		Morgan Stanley		4.431		01/23/30		2,163
	2,811,097		Santa Rosa Leasing LLC		1.693		08/15/24		2,793
	17,580,000		Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		18,142
	2,600,000	g,i	Swiss Re Finance Luxembourg SA	DGS5 + 3.582%	5.000		04/02/49		2,870
	9,269,000		Synchrony Financial		4.250		08/15/24		9,779
	6,625,000		TD Ameritrade Holding Corp		3.300		04/01/27		6,959
	10,157,000	g	UBS Group Funding Switzerland AG.		2.859		08/15/23		10,270
	9,775,000		Unilever Capital Corp		2.900		05/05/27		10,219
	2,550,000	g,i	United Overseas Bank Ltd	DGS5 + 1.500%	3.750		04/15/29		2,645
	45,550,000		Wells Fargo & Co		2.625		07/22/22		46,057
	8,400,000		Wells Fargo & Co		3.750		01/24/24		8,896
	5,300,000		Wells Fargo & Co		3.550		09/29/25		5,607
	13,850,000		Wells Fargo & Co		3.000		04/22/26		14,204
			TOTAL DIVERSIFIED FINANCIALS						487,064
ENERGY - 3.2%
	1,825,000	g	Abu Dhabi Crude Oil Pipeline LLC		4.600		11/02/47		2,128
	2,375,000		AmeriGas Partners LP		5.625		05/20/24		2,543
	1,050,000		AmeriGas Partners LP		5.875		08/20/26		1,151
	2,900,000		Apache Corp		4.750		04/15/43		2,786
	1,575,000	g	APT Pipelines Ltd		4.250		07/15/27		1,694
	3,800,000		BP Capital Markets America, Inc		2.520		09/19/22		3,846
	3,105,000		BP Capital Markets America, Inc		3.224		04/14/24		3,234
	13,000,000		BP Capital Markets America, Inc		3.796		09/21/25		14,047
	7,500,000		BP Capital Markets America, Inc		3.588		04/14/27		8,008
	6,575,000		BP Capital Markets plc		3.279		09/19/27		6,922
	699,000	g	California Resources Corp		8.000		12/15/22		346
	478,000	†	California Resources Corp		6.000		11/15/24		167
	10,150,000		Cenovus Energy, Inc		4.250		04/15/27		10,583

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,800,000		Cheniere Energy Partners LP	5.625	%	10/01/26	$	2,971
	3,025,000		Cimarex Energy Co	3.900		05/15/27		3,081
	2,375,000		Crestwood Midstream Partners LP	5.750		04/01/25		2,440
	150,000		Ecopetrol S.A.	5.375		06/26/26		168
	2,000,000		Ecopetrol S.A.	5.875		05/28/45		2,349
	11,435,000		Energy Transfer Operating LP	5.250		04/15/29		12,900
	8,700,000		Energy Transfer Operating LP	6.250		04/15/49		10,563
	6,421,000		Energy Transfer Partners LP	3.600		02/01/23		6,596
	5,930,000		Energy Transfer Partners LP	4.200		09/15/23		6,239
	8,400,000		Energy Transfer Partners LP	4.750		01/15/26		9,107
	7,850,000		Energy Transfer Partners LP	4.950		06/15/28		8,629
	5,125,000		Enterprise Products Operating LLC	3.700		02/15/26		5,448
	6,275,000		Enterprise Products Operating LLC	3.125		07/31/29		6,417
	1,250,000		Enterprise Products Operating LLC	4.900		05/15/46		1,450
	4,025,000		Enterprise Products Operating LLC	4.250		02/15/48		4,330
	6,200,000		Enterprise Products Operating LLC	4.800		02/01/49		7,194
	4,200,000		Enterprise Products Operating LLC	4.200		01/31/50		4,491
	2,250,000		Exterran Partners LP	6.000		10/01/22		2,275
	300,000	g	Gazprom OAO Via Gaz Capital S.A.	4.950		03/23/27		324
	1,000,000	g	Hess Infrastructure Partners LP	5.625		02/15/26		1,045
	2,000,000	g	KazMunayGas National Co JSC	5.375		04/24/30		2,247
	4,850,000		Kinder Morgan Energy Partners LP	5.400		09/01/44		5,560
	2,065,000		Kinder Morgan, Inc	5.300		12/01/34		2,372
	5,030,000		Marathon Oil Corp	2.700		06/01/20		5,040
	2,000,000		Marathon Oil Corp	4.400		07/15/27		2,134
	9,075,000		Marathon Petroleum Corp	3.800		04/01/28		9,461
	11,000,000		MPLX LP	4.000		03/15/28		11,470
	12,525,000		MPLX LP	4.500		04/15/38		12,990
	6,150,000		MPLX LP	4.700		04/15/48		6,424
	900,000		Noble Energy, Inc	3.900		11/15/24		944
	9,500,000		Noble Energy, Inc	3.850		01/15/28		9,861
	7,575,000		Noble Energy, Inc	5.050		11/15/44		8,268
	4,200,000		Occidental Petroleum Corp	5.550		03/15/26		4,749
	13,350,000		Occidental Petroleum Corp	3.500		08/15/29		13,555
	7,100,000		Occidental Petroleum Corp	4.300		08/15/39		7,288
	5,925,000		Occidental Petroleum Corp	4.500		07/15/44		6,028
	4,000,000		ONEOK, Inc	4.000		07/13/27		4,187
	12,150,000		ONEOK, Inc	4.350		03/15/29		13,000
	19,180,000		ONEOK, Inc	3.400		09/01/29		18,982
	3,000,000	g	Pertamina Persero PT	4.300		05/20/23		3,153
	1,425,000	g	Pertamina Persero PT	3.650		07/30/29		1,467
	3,050,000	g	Peru LNG Srl	5.375		03/22/30		3,164
	2,335,000		Petrobras Global Finance BV	5.999		01/27/28		2,597
	1,100,000	g	Petrobras Global Finance BV	5.093		01/15/30		1,148
	750,000		Petrobras Global Finance BV	7.250		03/17/44		898
EUR	375,000		Petroleos Mexicanos	1.875		04/21/22		411
$	7,000,000		Petroleos Mexicanos	1.950		12/20/22		6,998
	3,745,000		Petroleos Mexicanos	2.000		12/20/22		3,749
	3,900,000		Petroleos Mexicanos	4.500		01/23/26		3,767
	3,775,000		Petroleos Mexicanos	6.500		03/13/27		3,930
	3,050,000		Petroleos Mexicanos	5.350		02/12/28		2,915
	2,988,000	g,h	Petroleos Mexicanos	6.840		01/23/30		3,090
	6,575,000		Phillips 66 Partners LP	3.550		10/01/26		6,782
	3,250,000		Phillips 66 Partners LP	3.150		12/15/29		3,198

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,275,000		Phillips 66 Partners LP	4.680	%	02/15/45	$	3,516
	614,000		Pioneer Natural Resources Co	7.500		01/15/20		623
	2,335,000		Range Resources Corp	5.000		08/15/22		2,189
	1,200,000		Regency Energy Partners LP	4.500		11/01/23		1,272
	3,000,000	g	Reliance Industries Ltd	3.667		11/30/27		3,133
	2,650,000	g	Rio Oil Finance Trust	8.200		04/06/28		3,034
	9,875,000		Sabine Pass Liquefaction LLC	4.200		03/15/28		10,469
	5,550,000		Shell International Finance BV	2.250		01/06/23		5,606
	4,875,000		Shell International Finance BV	3.250		05/11/25		5,165
	6,825,000		Shell International Finance BV	4.000		05/10/46		7,896
	5,950,000		Spectra Energy Partners LP	3.500		03/15/25		6,189
	6,500,000		Sunoco Logistics Partners Operations LP	4.000		10/01/27		6,729
	1,925,000		Sunoco Logistics Partners Operations LP	5.400		10/01/47		2,100
	1,000,000		Sunoco LP	4.875		01/15/23		1,026
	600,000		Targa Resources Partners LP	5.125		02/01/25		617
	1,000,000		Targa Resources Partners LP	5.875		04/15/26		1,056
	425,000	g	Targa Resources Partners LP	6.500		07/15/27		464
	1,250,000	g	Targa Resources Partners LP	6.875		01/15/29		1,366
EUR	600,000		Total Capital International S.A.	2.500		03/25/26		760
$	21,650,000		TransCanada PipeLines Ltd	4.250		05/15/28		23,938
	2,500,000		Vale Overseas Ltd	6.250		08/10/26		2,881
	6,150,000		Valero Energy Partners LP	4.500		03/15/28		6,722
	5,075,000		Williams Partners LP	3.750		06/15/27		5,250
	1,175,000		Williams Partners LP	4.900		01/15/45		1,242
	201,000		WPX Energy, Inc	8.250		08/01/23		226
	2,400,000		WPX Energy, Inc	5.250		09/15/24		2,459
	2,000,000	g	YPF S.A.	8.500		07/28/25		1,570
			TOTAL ENERGY					454,797
FOOD & STAPLES RETAILING - 1.1%
	18,225,000		CVS Health Corp	2.625		08/15/24		18,288
	15,950,000		CVS Health Corp	2.875		06/01/26		15,969
	16,055,000		CVS Health Corp	4.300		03/25/28		17,365
	10,825,000		CVS Health Corp	3.250		08/15/29		10,884
	20,300,000		CVS Health Corp	4.780		03/25/38		22,379
	8,350,000		CVS Health Corp	5.050		03/25/48		9,496
	2,900,000		Ingles Markets, Inc	5.750		06/15/23		2,962
	5,575,000		Kroger Co	3.700		08/01/27		5,892
	1,325,000		Kroger Co	4.450		02/01/47		1,368
EUR	1,000,000		SYSCO Corp	1.250		06/23/23		1,134
$	22,300,000		Walmart, Inc	3.700		06/26/28		24,737
	9,350,000		Walmart, Inc	3.250		07/08/29		10,105
	13,650,000		Walmart, Inc	2.375		09/24/29		13,754
	6,150,000		Walmart, Inc	3.950		06/28/38		7,174
			TOTAL FOOD & STAPLES RETAILING					161,507
FOOD, BEVERAGE & TOBACCO - 1.1%
	6,425,000		Altria Group, Inc	4.800		02/14/29		7,046
	5,800,000		Altria Group, Inc	5.950		02/14/49		6,823
	6,691,000		Anheuser-Busch InBev Finance, Inc	2.650		02/01/21		6,754
	17,999,000		Anheuser-Busch InBev Finance, Inc	3.300		02/01/23		18,711
	6,600,000		Anheuser-Busch InBev Worldwide, Inc	4.150		01/23/25		7,211
	14,800,000		Anheuser-Busch InBev Worldwide, Inc	4.750		01/23/29		17,235

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	6,000,000		Anheuser-Busch InBev Worldwide, Inc		5.450	%	01/23/39	$	7,591
	5,750,000		ConAgra Brands, Inc		4.850		11/01/28		6,519
	1,700,000		Constellation Brands, Inc		4.400		11/15/25		1,880
	8,200,000		Constellation Brands, Inc		3.600		02/15/28		8,659
	3,000,000	g	Corp Lindley S.A.		4.625		04/12/23		3,154
	5,500,000		Diageo Capital plc		2.125		10/24/24		5,498
	4,925,000		Diageo Capital plc		3.875		05/18/28		5,493
	8,050,000		Diageo Capital plc		2.375		10/24/29		7,977
	3,700,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		3,913
	2,400,000	g,i	Grupo Bimbo SAB de C.V.	DGS5 + 3.280%	5.950		N/A‡		2,525
	3,900,000		Kellogg Co		3.400		11/15/27		4,090
	7,700,000	g	Kraft Heinz Foods Co		3.750		04/01/30		7,774
	4,115,000		Mead Johnson Nutrition Co		4.900		11/01/19		4,124
	3,125,000		PepsiCo, Inc		3.450		10/06/46		3,370
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		2,202
	2,700,000		Tyson Foods, Inc		3.900		09/28/23		2,861
	4,600,000		Tyson Foods, Inc		3.550		06/02/27		4,875
	5,800,000		Tyson Foods, Inc		5.100		09/28/48		7,042
			TOTAL FOOD, BEVERAGE & TOBACCO						153,327
HEALTH CARE EQUIPMENT & SERVICES - 0.8%
	11,100,000		Anthem, Inc		3.650		12/01/27		11,681
	11,589,000		Becton Dickinson & Co		3.700		06/06/27		12,278
EUR	430,000		Becton Dickinson and Co		1.401		05/24/23		487
	670,000		Becton Dickinson and Co		1.900		12/15/26		784
$	4,850,000		Boston Scientific Corp		4.000		03/01/29		5,362
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		23,020
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,913
	4,105,000		Dartmouth-Hitchcock Health		4.178		08/01/48		4,843
EUR	500,000		DH Europe Finance S.A.		1.200		06/30/27		580
$	4,225,000		HCA, Inc		5.625		09/01/28		4,708
	875,000		HCA, Inc		5.875		02/01/29		979
	5,000,000		HCA, Inc		5.500		06/15/47		5,653
	525,000		Medtronic, Inc		4.625		03/15/45		674
	12,500,000		Mercy Health		3.382		11/01/25		12,993
	5,000,000		New York and Presbyterian Hospital		3.563		08/01/36		5,309
EUR	500,000		Stryker Corp		2.125		11/30/27		617
	450,000		Stryker Corp		2.625		11/30/30		582
$	5,350,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		5,512
EUR	300,000		Thermo Fisher Scientific, Inc		1.950		07/24/29		367
	325,000		Thermo Fisher Scientific, Inc		2.875		07/24/37		446
$	5,775,000		UnitedHealth Group, Inc		2.950		10/15/27		5,963
	4,625,000		UnitedHealth Group, Inc		3.750		10/15/47		4,947
	2,150,000		Zimmer Biomet Holdings, Inc		3.700		03/19/23		2,240
	3,745,000		Zimmer Holdings, Inc		3.550		04/01/25		3,932
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						117,870
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
EUR	600,000		The Procter & Gamble Company		0.625		10/30/24		675
	400,000		The Procter & Gamble Company		1.875		10/30/38		539
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						1,214

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
INSURANCE - 1.0%
$	6,250,000		ACE INA Holdings, Inc		2.875	%	11/03/22	$	6,407
	1,925,000		Aetna, Inc		6.625		06/15/36		2,501
	5,500,000		Allstate Corp		3.850		08/10/49		6,093
	2,700,000		American Financial Group, Inc		3.500		08/15/26		2,774
EUR	650,000		American International Group, Inc		1.500		06/08/23		740
$	9,025,000		American International Group, Inc		3.900		04/01/26		9,611
	2,875,000		American International Group, Inc		4.200		04/01/28		3,136
	6,650,000		Aon Corp		3.750		05/02/29		7,098
	12,975,000		Aon plc		3.500		06/14/24		13,688
	2,400,000		Berkshire Hathaway Finance Corp		4.250		01/15/49		2,845
EUR	450,000		Chubb INA Holdings, Inc		0.875		06/15/27		506
	500,000		Chubb INA Holdings, Inc		1.550		03/15/28		593
	450,000		Chubb INA Holdings, Inc		1.400		06/15/31		523
$	3,525,000		CNA Financial Corp		3.950		05/15/24		3,783
	3,050,000		CNA Financial Corp		3.450		08/15/27		3,162
	900,000		CNA Financial Corp		3.900		05/01/29		973
	5,665,000	g,i	Cranberry RE Ltd	LIBOR 6 M + 1.980%	3.633		07/13/20		5,673
EUR	250,000	g	Fairfax Financial Holdings Ltd		2.750		03/29/28		300
$	5,575,000	g	Five Corners Funding Trust		4.419		11/15/23		6,027
	5,500,000		Hartford Financial Services Group, Inc		2.800		08/19/29		5,482
	1,350,000		Hartford Financial Services Group, Inc		4.300		04/15/43		1,500
	3,375,000		Hartford Financial Services Group, Inc		3.600		08/19/49		3,396
	6,250,000		Humana, Inc		3.950		03/15/27		6,638
	728,000	g	Liberty Mutual Group, Inc		4.250		06/15/23		772
EUR	750,000		Liberty Mutual Group, Inc		2.750		05/04/26		922
$	2,572,000	g	Liberty Mutual Group, Inc		4.569		02/01/29		2,870
	1,350,000	g	Liberty Mutual Group, Inc		4.500		06/15/49		1,500
	2,425,000		Lincoln National Corp		3.800		03/01/28		2,564
	3,250,000		Markel Corp		3.500		11/01/27		3,323
	1,600,000		Marsh & McLennan Cos, Inc		3.500		06/03/24		1,688
	1,365,000		Marsh & McLennan Cos, Inc		3.500		03/10/25		1,443
	4,325,000		MetLife, Inc		3.600		11/13/25		4,671
	600,000		Principal Financial Group, Inc		3.700		05/15/29		647
	2,500,000		Prudential Financial, Inc		3.905		12/07/47		2,686
	3,000,000	g	Prudential Funding LLC		6.750		09/15/23		3,461
	4,150,000		Reinsurance Group of America, Inc		3.900		05/15/29		4,417
	1,250,000		Verisk Analytics, Inc		4.125		03/15/29		1,378
	7,750,000	g,i	Vitality Re IX Ltd		3.407		01/10/22		7,746
	3,500,000	g,i	Vitality Re X Ltd		3.557		01/10/23		3,506
	2,400,000		WR Berkley Corp		5.375		09/15/20		2,470
			TOTAL INSURANCE						139,513
MATERIALS - 0.8%
	4,000,000		3M Co		3.250		08/26/49		4,015
	3,349,000		Albemarle Corp		5.450		12/01/44		3,803
	5,520,000		ArcelorMittal		6.250		02/25/22		5,971
EUR	850,000	g	Axalta Coating Systems Dutch Holding B BV		3.750		01/15/25		956
	250,000		Ball Corp		4.375		12/15/23		317
$	852,000	g	Bemis Co, Inc		3.100		09/15/26		837
	200,000		Celulosa Arauco y Constitucion S.A.		3.875		11/02/27		204
	3,000,000	g	Celulosa Arauco y Constitucion S.A.		4.250		04/30/29		3,116
	3,900,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.625		08/01/27		4,107
	2,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.700		01/30/50		2,002

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,250,000	g	CRH America Finance, Inc	3.400	%	05/09/27	$	3,357
	7,945,000		DowDuPont, Inc	4.725		11/15/28		9,096
	7,225,000		DowDuPont, Inc	5.319		11/15/38		8,820
	1,950,000	g	Industrias Penoles SAB de C.V.	4.150		09/12/29		1,957
EUR	350,000	g	INEOS Finance plc	2.875		05/01/26		376
$	11,275,000		International Paper Co	4.350		08/15/48		11,702
	3,000,000	g	Inversiones CMPC S.A.	4.375		04/04/27		3,176
	5,800,000	g	Midwest Connector Capital Co LLC	3.900		04/01/24		6,110
	5,800,000	g	Midwest Connector Capital Co LLC	4.625		04/01/29		6,373
	3,000,000	g	Nexa Resources S.A.	5.375		05/04/27		3,185
	2,000,000	g	Nova Chemicals Corp	4.875		06/01/24		2,057
	4,767,000		Nutrien Ltd	3.375		03/15/25		4,939
EUR	125,000	g	OCI NV	5.000		04/15/23		143
$	500,000	g	OCI NV	6.625		04/15/23		523
	3,000,000	g	OCP S.A.	4.500		10/22/25		3,151
EUR	250,000	g	OI European Group BV	3.125		11/15/24		286
$	8,300,000		Rio Tinto Finance USA Ltd	3.750		06/15/25		8,917
	2,550,000	g	SABIC Capital II BV	4.000		10/10/23		2,681
	1,300,000		SASOL Financing USA LLC	6.500		09/27/28		1,437
EUR	750,000		Silgan Holdings, Inc	3.250		03/15/25		837
$	1,800,000		Steel Dynamics, Inc	5.250		04/15/23		1,832
	1,925,000		Suzano Austria GmbH	6.000		01/15/29		2,092
	1,700,000		Westlake Chemical Corp	3.600		08/15/26		1,756
			TOTAL MATERIALS					110,131
MEDIA & ENTERTAINMENT - 1.5%
GBP	425,000		AMC Entertainment Holdings, Inc	6.375		11/15/24		512
$	1,750,000		CBS Corp	2.900		06/01/23		1,774
	4,200,000		CBS Corp	2.900		01/15/27		4,164
	2,500,000		CBS Corp	3.375		02/15/28		2,560
	5,225,000		Charter Communications Operating LLC	3.579		07/23/20		5,272
	11,675,000		Charter Communications Operating LLC	4.908		07/23/25		12,831
	8,000,000		Charter Communications Operating LLC	3.750		02/15/28		8,210
	8,400,000		Charter Communications Operating LLC	5.375		05/01/47		9,141
	6,150,000		Charter Communications Operating LLC	5.125		07/01/49		6,552
	1,500,000		Cinemark USA, Inc	4.875		06/01/23		1,521
	7,200,000		Comcast Corp	3.700		04/15/24		7,677
	11,800,000		Comcast Corp	3.950		10/15/25		12,848
	10,650,000		Comcast Corp	2.350		01/15/27		10,600
	5,750,000		Comcast Corp	3.150		02/15/28		5,995
	26,850,000		Comcast Corp	4.150		10/15/28		30,126
	18,200,000		Comcast Corp	3.200		07/15/36		18,666
	3,000,000		Comcast Corp	3.900		03/01/38		3,321
	1,500,000	g	CSC Holdings LLC	7.500		04/01/28		1,689
	1,675,000	g	Diamond Sports Group LLC	5.375		08/15/26		1,738
	4,000,000		Discovery Communications LLC	2.950		03/20/23		4,064
GBP	300,000		Discovery Communications LLC	2.500		09/20/24		380
$	6,850,000		Discovery Communications LLC	4.125		05/15/29		7,216
	1,895,000		Grupo Televisa SAB	6.625		01/15/40		2,370
	2,000,000		Lamar Media Corp	5.375		01/15/24		2,052
	1,350,000	g	Lima Metro Line 2 Finance Ltd	4.350		04/05/36		1,436
	5,500,000	h	LYB International Finance III LLC	4.200		10/15/49		5,445
	10,350,000		NBC Universal Media LLC	2.875		01/15/23		10,633
	2,925,000	g	Tegna, Inc	5.500		09/15/24		3,013

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,675,000		Time Warner Cable LLC	5.875	%	11/15/40	$	6,350
	4,075,000		Time Warner Cable LLC	4.500		09/15/42		4,007
	2,250,000		Viacom, Inc	4.375		03/15/43		2,318
	1,150,000		Viacom, Inc	5.850		09/01/43		1,414
	2,105,000	g	Walt Disney Co	7.625		11/30/28		2,962
	8,225,000		Walt Disney Co	2.000		09/01/29		8,010
	1,578,000	g	Walt Disney Co	6.550		03/15/33		2,239
			TOTAL MEDIA & ENTERTAINMENT					209,106
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.4%
EUR	400,000		Abbott Ireland Financing DAC	0.875		09/27/23		450
	400,000		Abbott Ireland Financing DAC	1.500		09/27/26		470
$	4,750,000		Abbott Laboratories	3.875		09/15/25		5,166
	11,022,000		Abbott Laboratories	3.750		11/30/26		12,010
	2,250,000		Abbott Laboratories	5.300		05/27/40		2,887
	3,500,000		AbbVie, Inc	2.850		05/14/23		3,561
	1,700,000		AbbVie, Inc	3.600		05/14/25		1,768
	14,350,000		AbbVie, Inc	3.200		05/14/26		14,612
	9,525,000		AbbVie, Inc	4.250		11/14/28		10,343
	6,700,000		AbbVie, Inc	4.400		11/06/42		6,914
	2,680,000		AbbVie, Inc	4.450		05/14/46		2,778
	8,700,000		Actavis Funding SCS	3.800		03/15/25		9,111
EUR	550,000		Allergan Funding SCS	1.250		06/01/24		623
	350,000		Allergan Funding SCS	2.625		11/15/28		438
$	5,650,000		AstraZeneca plc	3.125		06/12/27		5,879
	2,900,000	g	Bristol-Myers Squibb Co	2.900		07/26/24		2,992
	18,425,000	g	Bristol-Myers Squibb Co	3.400		07/26/29		19,700
	16,500,000	g	Bristol-Myers Squibb Co	4.250		10/26/49		19,214
	2,900,000		Celgene Corp	3.875		08/15/25		3,131
	13,600,000		Celgene Corp	3.450		11/15/27		14,437
	8,675,000		Gilead Sciences, Inc	2.950		03/01/27		8,947
	1,775,000		Gilead Sciences, Inc	4.000		09/01/36		1,986
	5,075,000		Gilead Sciences, Inc	4.150		03/01/47		5,658
	8,150,000		Johnson & Johnson	2.900		01/15/28		8,574
	3,750,000		Johnson & Johnson	3.400		01/15/38		4,056
	5,750,000		Mylan, Inc	4.550		04/15/28		6,125
	9,600,000		Novartis Capital Corp	3.000		11/20/25		10,106
EUR	400,000	g	Takeda Pharmaceutical Co Ltd	0.375		11/21/20		439
	1,200,000	g	Takeda Pharmaceutical Co Ltd	1.125		11/21/22		1,349
	400,000	g	Takeda Pharmaceutical Co Ltd	3.000		11/21/30		520
$	11,400,000		Teva Pharmaceutical Finance Netherlands III BV	3.150		10/01/26		7,980
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES					192,224
REAL ESTATE - 1.6%
$	1,675,000		Alexandria Real Estate Equities, Inc	3.950		01/15/27		1,794
	2,300,000		Alexandria Real Estate Equities, Inc	3.950		01/15/28		2,480
	5,950,000		American Tower Corp	3.000		06/15/23		6,087
	5,775,000		American Tower Corp	2.950		01/15/25		5,900
EUR	600,000		American Tower Corp	1.950		05/22/26		712
$	2,418,000		American Tower Corp	3.375		10/15/26		2,518
	10,000,000		American Tower Corp	2.750		01/15/27		9,984
	1,600,000		American Tower Corp	3.600		01/15/28		1,686
	8,850,000		American Tower Corp	3.800		08/15/29		9,448

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE		MATURITY DATE	VALUE (000)
$	5,575,000	Brandywine Operating Partnership LP	4.100	%	10/01/24	$	5,865
	5,825,000	Brixmor Operating Partnership LP	3.850		02/01/25		6,092
	5,250,000	Brixmor Operating Partnership LP	4.125		06/15/26		5,569
	4,050,000	Brixmor Operating Partnership LP	3.900		03/15/27		4,246
	3,965,000	Camden Property Trust	4.625		06/15/21		4,107
	1,950,000	Camden Property Trust	3.150		07/01/29		2,029
	3,911,000	Crown Castle International Corp	4.875		04/15/22		4,158
	2,275,000	Crown Castle International Corp	3.700		06/15/26		2,411
	1,700,000	Crown Castle International Corp	3.650		09/01/27		1,801
	2,968,000	DDR Corp	3.625		02/01/25		3,049
	350,000	DDR Corp	4.700		06/01/27		383
	3,075,000	Digital Realty Trust LP	3.700		08/15/27		3,227
	1,600,000	Duke Realty LP	3.250		06/30/26		1,656
	2,525,000	Duke Realty LP	4.000		09/15/28		2,753
	2,750,000	Equity One, Inc	3.750		11/15/22		2,863
	2,754,000	Essex Portfolio LP	3.375		01/15/23		2,839
	4,100,000	Essex Portfolio LP	3.000		01/15/30		4,137
	3,500,000	HCP, Inc	4.250		11/15/23		3,737
	9,200,000	HCP, Inc	3.500		07/15/29		9,561
	1,625,000	Healthcare Realty Trust, Inc	3.750		04/15/23		1,678
	6,600,000	Healthcare Realty Trust, Inc	3.875		05/01/25		6,902
	3,000,000	Healthcare Realty Trust, Inc	3.625		01/15/28		3,121
	3,550,000	Healthcare Trust of America Holdings LP	3.700		04/15/23		3,670
	6,250,000	Healthcare Trust of America Holdings LP	3.500		08/01/26		6,443
	2,950,000	Highwoods Realty LP	3.875		03/01/27		3,091
	2,900,000	Highwoods Realty LP	4.125		03/15/28		3,090
	2,875,000	Highwoods Realty LP	4.200		04/15/29		3,085
	1,833,000	Hudson Pacific Properties LP	3.950		11/01/27		1,920
	800,000	iStar, Inc	4.750		10/01/24		813
	2,700,000	Liberty Property LP	4.375		02/01/29		3,017
	5,224,000	Mid-America Apartments LP	4.300		10/15/23		5,581
	5,525,000	Mid-America Apartments LP	3.750		06/15/24		5,809
	4,300,000	Mid-America Apartments LP	4.000		11/15/25		4,608
	3,575,000	Mid-America Apartments LP	3.600		06/01/27		3,782
	2,175,000	Mid-America Apartments LP	3.950		03/15/29		2,374
	3,600,000	National Retail Properties, Inc	3.800		10/15/22		3,738
	5,425,000	National Retail Properties, Inc	3.300		04/15/23		5,575
	2,575,000	National Retail Properties, Inc	4.000		11/15/25		2,760
	3,000,000	National Retail Properties, Inc	3.600		12/15/26		3,158
EUR	350,000	ProLogis LP	3.000		06/02/26		448
$	7,225,000	Regency Centers LP	3.900		11/01/25		7,689
	4,750,000	Regency Centers LP	3.600		02/01/27		4,989
	5,500,000	Regency Centers LP	2.950		09/15/29		5,489
EUR	330,000	Simon International Finance S.C.A	1.250		05/13/25		382
$	5,900,000	Ventas Realty LP	3.000		01/15/30		5,857
	1,170,000	Weingarten Realty Investors	3.375		10/15/22		1,198
	4,800,000	Weingarten Realty Investors	3.500		04/15/23		4,929
	3,025,000	Weingarten Realty Investors	4.450		01/15/24		3,213
	3,950,000	Weingarten Realty Investors	3.850		06/01/25		4,104
	1,300,000	Weingarten Realty Investors	3.250		08/15/26		1,307
		TOTAL REAL ESTATE					224,912
RETAILING - 0.3%
	600,000	Asbury Automotive Group, Inc	6.000		12/15/24		621

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	2,950,000		AutoNation, Inc	3.800	%	11/15/27	$	2,982
	4,085,000		Enable Midstream Partners LP	3.900		05/15/24		4,164
	2,980,000		Enable Midstream Partners LP	4.150		09/15/29		2,868
	8,850,000		Home Depot, Inc	2.000		04/01/21		8,870
	5,100,000		O’Reilly Automotive, Inc	3.550		03/15/26		5,378
	6,875,000		O’Reilly Automotive, Inc	3.600		09/01/27		7,318
	1,500,000	g	PetSmart, Inc	5.875		06/01/25		1,493
	9,000,000		Target Corp	3.375		04/15/29		9,697
	5,625,000		Target Corp	3.625		04/15/46		6,180
			TOTAL RETAILING					49,571
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.3%
	15,640,000		Intel Corp	2.875		05/11/24		16,254
	4,800,000		Intel Corp	2.600		05/19/26		4,935
	2,500,000		Intel Corp	3.734		12/08/47		2,794
	5,250,000	g	NXP BV	4.875		03/01/24		5,693
	5,800,000	g	NXP BV	3.875		06/18/26		6,099
	3,475,000		Texas Instruments, Inc	2.625		05/15/24		3,572
	2,500,000		Texas Instruments, Inc	2.250		09/04/29		2,461
	3,100,000		Texas Instruments, Inc	4.150		05/15/48		3,802
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT					45,610
SOFTWARE & SERVICES - 1.1%
	4,175,000		Activision Blizzard, Inc	2.300		09/15/21		4,186
	4,350,000		Activision Blizzard, Inc	3.400		09/15/26		4,524
	2,800,000		Baidu, Inc	2.875		07/06/22		2,817
	1,725,000		Baidu, Inc	4.375		05/14/24		1,841
	11,348,000		Fidelity National Information Services, Inc	3.625		10/15/20		11,499
GBP	150,000		Fidelity National Information Services, Inc	1.700		06/30/22		187
EUR	375,000		Fidelity National Information Services, Inc	1.100		07/15/24		426
$	3,750,000		Fidelity National Information Services, Inc	3.750		05/21/29		4,069
	3,000,000		Fidelity National Information Services, Inc	4.750		05/15/48		3,655
	14,800,000		Fiserv, Inc	2.750		07/01/24		15,053
	14,250,000		Fiserv, Inc	3.500		07/01/29		14,996
	1,950,000		IHS Markit Ltd	4.125		08/01/23		2,052
	3,175,000		IHS Markit Ltd	4.250		05/01/29		3,418
	25,850,000		International Business Machines Corp	3.500		05/15/29		27,754
	26,300,000		Microsoft Corp	2.400		08/08/26		26,830
	3,750,000		Microsoft Corp	4.100		02/06/37		4,448
	5,850,000		Microsoft Corp	3.700		08/08/46		6,705
	12,600,000		Oracle Corp	2.500		05/15/22		12,759
	8,600,000		Oracle Corp	2.650		07/15/26		8,778
	2,425,000		salesforce.com, Inc	3.700		04/11/28		2,662
	250,000	g	Tencent Holdings Ltd	3.975		04/11/29		268
	250,000		Weibo Corp	3.500		07/05/24		254
			TOTAL SOFTWARE & SERVICES					159,181
TECHNOLOGY HARDWARE & EQUIPMENT - 0.9%
	7,025,000		Amphenol Corp	2.800		02/15/30		6,833
EUR	675,000		Amphenol Technologies Holding GmbH	2.000		10/08/28		822
$	8,075,000		Apple, Inc	2.450		08/04/26		8,196
	27,500,000		Apple, Inc	2.050		09/11/26		27,172

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
EUR	750,000		Apple, Inc	1.375	%	05/24/29	$	910
$	4,525,000		Apple, Inc	4.650		02/23/46		5,698
	14,075,000		Broadcom Corp	3.875		01/15/27		14,148
	19,750,000		Cisco Systems, Inc	1.850		09/20/21		19,743
	2,600,000	g	CommScope, Inc	5.500		06/15/24		2,443
	2,075,000		Corning, Inc	4.375		11/15/57		2,138
	13,175,000	g	Dell International LLC	4.420		06/15/21		13,585
	7,050,000	g	Dell International LLC	5.300		10/01/29		7,671
	3,645,000	g	Empresas Publicas de Medellin ESP	4.250		07/18/29		3,832
	3,150,000	g	L3Harris Technologies, Inc	3.850		06/15/23		3,318
	6,669,000		Tyco Electronics Group S.A.	3.500		02/03/22		6,860
EUR	400,000		Tyco Electronics Group S.A.	1.100		03/01/23		449
$	2,175,000		Tyco Electronics Group S.A.	3.700		02/15/26		2,298
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT					126,116
TELECOMMUNICATION SERVICES - 1.8%
EUR	107,229	g	Altice Luxembourg S.A.	7.250		05/15/22		119
$	4,936,000		AT&T, Inc	3.000		06/30/22		5,041
EUR	300,000		AT&T, Inc	1.300		09/05/23		341
$	18,025,000		AT&T, Inc	3.400		05/15/25		18,821
	3,900,000		AT&T, Inc	3.600		07/15/25		4,107
	4,045,000		AT&T, Inc	2.950		07/15/26		4,103
	7,500,000		AT&T, Inc	3.800		02/15/27		7,947
	31,525,000		AT&T, Inc	4.350		03/01/29		34,839
EUR	500,000		AT&T, Inc	2.350		09/05/29		622
$	21,900,000		AT&T, Inc	4.300		02/15/30		24,102
	9,000,000		AT&T, Inc	4.500		05/15/35		9,879
	14,525,000		AT&T, Inc	4.500		03/09/48		15,614
	3,000,000	g	C&W Senior Financing Designated Activity Co	6.875		09/15/27		3,109
	4,000,000		Deutsche Telekom International Finance BV	8.750		06/15/30		5,907
	4,725,000		Global Payments, Inc	2.650		02/15/25		4,745
	10,275,000		Global Payments, Inc	3.200		08/15/29		10,407
	4,000,000	g	MTN Mauritius Investment Ltd	6.500		10/13/26		4,372
	698,000	o	Oi S.A.	10.000		07/27/25		639
	3,950,000		Orange S.A.	5.375		01/13/42		5,073
	5,000,000		Rogers Communications, Inc	4.350		05/01/49		5,754
	2,125,000		Telefonica Emisiones SAU	4.103		03/08/27		2,320
	2,400,000	g	Turk Telekomunikasyon AS.	6.875		02/28/25		2,537
	577,000		Verizon Communications, Inc	3.376		02/15/25		609
EUR	400,000		Verizon Communications, Inc	1.375		10/27/26		467
$	2,542,000		Verizon Communications, Inc	4.329		09/21/28		2,884
	6,425,000		Verizon Communications, Inc	3.875		02/08/29		7,056
EUR	400,000		Verizon Communications, Inc	1.875		10/26/29		485
$	3,812,000		Verizon Communications, Inc	4.016		12/03/29		4,238
	30,220,000		Verizon Communications, Inc	4.272		01/15/36		34,035
EUR	300,000		Verizon Communications, Inc	2.875		01/15/38		406
$	10,550,000		Verizon Communications, Inc	3.850		11/01/42		11,317
	3,350,000		Verizon Communications, Inc	4.522		09/15/48		3,956
EUR	500,000	g	Virgin Media Finance plc	4.500		01/15/25		561
$	8,700,000		Vodafone Group plc	4.375		05/30/28		9,611
	7,000,000		Vodafone Group plc	4.250		09/17/50		7,135
			TOTAL TELECOMMUNICATION SERVICES					253,158

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
TRANSPORTATION - 1.0%
$	4,850,000	g	Adani Ports & Special Economic Zone Ltd	4.000	%	07/30/27	$	4,957
	9,850,000		Boeing Co	2.950		02/01/30		10,146
	2,040,000		CSX Corp	2.600		11/01/26		2,070
	7,125,000		CSX Corp	3.250		06/01/27		7,483
	3,500,000		CSX Corp	3.800		03/01/28		3,814
	23,495,000		CSX Corp	4.250		03/15/29		26,541
	10,650,000		CSX Corp	2.400		02/15/30		10,408
	5,175,000		CSX Corp	3.800		11/01/46		5,433
	1,500,000		CSX Corp	4.300		03/01/48		1,685
	7,925,000		CSX Corp	3.350		09/15/49		7,748
	9,250,000		Delta Air Lines, Inc	3.625		03/15/22		9,502
	6,100,000		Delta Air Lines, Inc	3.800		04/19/23		6,326
	3,450,000	g	DP World Ltd	5.625		09/25/48		3,987
EUR	400,000		FedEx Corp	1.000		01/11/23		446
	325,000		FedEx Corp	1.625		01/11/27		377
$	23,750,000		FedEx Corp	3.100		08/05/29		23,610
	10,000,000		Kansas City Southern	2.350		05/15/20		10,004
	225,000	g	Pelabuhan Indonesia III Persero PT	4.500		05/02/23		238
	6,150,000		Union Pacific Corp	3.950		09/10/28		6,790
	6,125,000		Union Pacific Corp	4.500		09/10/48		7,287
			TOTAL TRANSPORTATION					148,852
UTILITIES - 2.2%
	1,650,000		AEP Transmission Co LLC	3.100		12/01/26		1,725
	1,650,000		AEP Transmission Co LLC	4.000		12/01/46		1,864
	1,526,000		AES Corp	4.875		05/15/23		1,553
	8,475,000		AGL Capital Corp	3.875		11/15/25		9,004
	2,125,000		AGL Capital Corp	4.400		06/01/43		2,377
	3,475,000		Alabama Power Co	4.150		08/15/44		3,945
	2,750,000		American Water Capital Corp	3.000		12/01/26		2,790
	2,375,000		American Water Capital Corp	4.000		12/01/46		2,613
	7,175,000		American Water Capital Corp	3.750		09/01/47		7,683
	1,175,000		Atmos Energy Corp	4.125		10/15/44		1,360
	6,500,000		Baltimore Gas & Electric Co	3.750		08/15/47		7,021
	5,500,000		Baltimore Gas & Electric Co	3.200		09/15/49		5,424
	5,925,000		Berkshire Hathaway Energy Co	3.250		04/15/28		6,247
	6,225,000		Black Hills Corp	4.250		11/30/23		6,623
	1,575,000		Black Hills Corp	3.150		01/15/27		1,597
	3,670,000		CenterPoint Energy Resources Corp	4.500		01/15/21		3,756
	3,550,000		CenterPoint Energy Resources Corp	6.250		02/01/37		4,591
	350,000	g	Cerro del Aguila S.A.	4.125		08/16/27		362
	4,675,000		CMS Energy Corp	3.600		11/15/25		4,910
	4,200,000		Commonwealth Edison Co	5.900		03/15/36		5,721
	3,775,000		Dominion Resources, Inc	2.000		08/15/21		3,763
	5,750,000		DTE Electric Co	3.750		08/15/47		6,348
	1,400,000		Duke Energy Carolinas LLC	4.300		06/15/20		1,421
	5,825,000		Duke Energy Corp	1.800		09/01/21		5,799
	8,675,000		Duke Energy Corp	2.650		09/01/26		8,716
	2,000,000		Duke Energy Florida Project Finance LLC	1.731		09/01/22		1,985
	1,450,000		Duke Energy Ohio, Inc	3.800		09/01/23		1,538
	3,200,000		Enel Chile S.A.	4.875		06/12/28		3,598
	5,700,000		Entergy Corp	2.950		09/01/26		5,789
	3,000,000	g	Eskom Holdings SOC Ltd	5.750		01/26/21		3,020

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	9,450,000		Exelon Generation Co LLC	3.400	%	03/15/22	$	9,690
	5,775,000		Florida Power & Light Co	3.990		03/01/49		6,746
	4,550,000		Florida Power & Light Co	3.150		10/01/49		4,618
	3,000,000	g	Hanwha Energy USA Holdings Corp	2.375		07/30/22		3,004
	3,600,000		Indiana Michigan Power Co	3.750		07/01/47		3,911
	2,725,000		Integrys Energy Group, Inc	4.170		11/01/20		2,780
EUR	750,000	g	International Game Technology plc	2.375		04/15/28		817
$	6,125,000	g	Israel Electric Corp Ltd	4.250		08/14/28		6,639
	3,475,000	g	KazTransGas JSC	4.375		09/26/27		3,640
	3,675,000	g	Korea Hydro & Nuclear Power Co Ltd	3.750		07/25/23		3,878
	5,000,000		LG&E and KU Energy LLC	3.750		11/15/20		5,064
	6,150,000		MidAmerican Energy Co	3.650		08/01/48		6,708
	3,000,000	g	Minejesa Capital BV	4.625		08/10/30		3,084
	3,335,000		Nevada Power Co	5.450		05/15/41		4,218
	7,100,000		NiSource, Inc	3.490		05/15/27		7,449
	3,600,000		Northern States Power Co	2.900		03/01/50		3,483
EUR	230,000		NTPC Ltd	2.750		02/01/27		275
$	6,150,000		Ohio Power Co	4.150		04/01/48		7,243
	6,150,000		Ohio Power Co	4.000		06/01/49		6,999
	1,280,000		Oncor Electric Delivery Co LLC	5.250		09/30/40		1,664
	3,500,000		ONE Gas, Inc	3.610		02/01/24		3,686
	2,775,000		PECO Energy Co	3.000		09/15/49		2,715
	3,000,000	g	Perusahaan Gas Negara Persero Tbk PT	5.125		05/16/24		3,274
	3,000,000	g	Perusahaan Listrik Negara PT	4.125		05/15/27		3,167
	2,650,000	g	Perusahaan Listrik Negara PT	3.875		07/17/29		2,743
	200,000	g	Perusahaan Listrik Negara PT	4.875		07/17/49		217
	750,000		Potomac Electric Power Co	7.900		12/15/38		1,165
	4,300,000		PPL Capital Funding, Inc	3.950		03/15/24		4,539
	2,000,000		PPL Electric Utilities Corp	3.000		09/15/21		2,036
	9,725,000		PSEG Power LLC	3.850		06/01/23		10,284
	4,450,000		Public Service Co of Colorado	3.200		03/01/50		4,526
	2,825,000		Public Service Electric & Gas Co	3.200		08/01/49		2,888
	2,000,000		Southern Co Gas Capital Corp	3.950		10/01/46		2,101
	8,250,000		Southern Power Co	2.500		12/15/21		8,264
	7,825,000		Southern Power Co	4.150		12/01/25		8,478
	7,375,000		Southwest Gas Corp	3.700		04/01/28		7,955
	3,680,000		Virginia Electric & Power Co	2.950		01/15/22		3,739
	3,250,000		Virginia Electric & Power Co	2.950		11/15/26		3,354
	3,250,000		Virginia Electric & Power Co	3.500		03/15/27		3,478
	2,425,000	g	Vistra Operations Co LLC	5.625		02/15/27		2,551
	4,125,000		Wisconsin Power & Light Co	4.100		10/15/44		4,617
	2,975,000		Xcel Energy, Inc	3.350		12/01/26		3,138
	2,890,000		Xcel Energy, Inc	4.800		09/15/41		3,351
			TOTAL UTILITIES					307,319
			TOTAL CORPORATE BONDS					4,754,355
			(Cost $4,513,053)
GOVERNMENT BONDS -  46.3%
AGENCY SECURITIES - 2.2%
	4,880,009		AMAL Ltd	3.465		08/21/21		4,956
	2,500,000		Amber Circle Funding Ltd	3.250		12/04/22		2,549
	3,758,000		Canal Barge Co, Inc	4.500		11/12/34		4,244

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	37,868,389		CES MU2 LLC	1.994	%	05/13/27	$	37,928
	5,940,000		DY8 Leasing LLC	2.627		04/29/26		6,067
	8,944,120		DY9 Leasing LLC	2.372		03/19/27		9,084
	3,532,077		Export Lease Ten Co LLC	1.650		05/07/25		3,511
	10,561,451		Helios Leasing II LLC	2.668		03/18/25		10,784
	11,150,278		HNA LLC	2.291		06/30/27		11,298
	11,900,000		Lutheran Medical Center	1.982		02/20/30		11,672
	7,440,000		Montefiore Medical Center	2.152		10/20/26		7,464
	2,953,412		MSN 41079 and 41084 Ltd	1.631		12/14/24		2,932
	12,071,429		Overseas Private Investment Corp (OPIC)	3.520		09/20/32		13,081
	3,826,522		Premier Aircraft Leasing	3.576		02/06/22		3,923
	27,750,000		Private Export Funding Corp (PEFCO)	2.250		03/15/20		27,764
	24,000,000	g	PEFCO	3.266		11/08/21		24,654
	35,000,000		PEFCO	4.300		12/15/21		36,816
	25,747,000		PEFCO	2.050		11/15/22		25,973
	26,667,292		Tagua Leasing LLC	1.900		07/12/24		26,616
	1,420,826		Union 12 Leasing LLC	2.164		02/17/24		1,428
	11,885,000		UNM Sandoval Regional Medical Center	4.500		07/20/36		12,220
	6,652,198		Windermere Aviation LLC	2.351		05/27/26		6,745
	15,291,656		Zarapito Leasing LLC	2.628		11/12/26		15,665
			TOTAL AGENCY SECURITIES					307,374
FOREIGN GOVERNMENT BONDS - 5.6%
	4,000,000	g	Abu Dhabi Government International Bond	3.125		05/03/26		4,190
	3,000,000	g	Abu Dhabi Government International Bond	2.500		09/30/29		2,982
	3,325,000	g	Arab Petroleum Investments Corp	4.125		09/18/23		3,518
	2,475,000	†	Argentina Republic Government International Bond	5.625		01/26/22		1,064
NOK	7,000,000		Asian Development Bank	1.683		01/16/24		767
AUD	400,000		Australia Government International Bond	2.250		05/21/28		298
	2,500,000		Australia Government International Bond	3.000		03/21/47		2,194
$	3,450,000	g	Bermuda Government International Bond	3.717		01/25/27		3,618
	2,500,000	g	Bermuda Government International Bond	4.750		02/15/29		2,831
	3,510,000	g	Brazil Minas SPE via State of Minas Gerais	5.333		02/15/28		3,725
BRL	3,500,000		Brazil Notas do Tesouro Nacional Serie F	10.000		01/01/23		937
$	5,700,000		Brazilian Government International Bond	5.625		02/21/47		6,377
	5,000,000	g	Caisse d’Amortissement de la Dette Sociale	2.000		04/17/20		4,999
	1,850,000	g	Caisse d’Amortissement de la Dette Sociale	1.875		07/28/20		1,849
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale	1.875		02/12/22		4,013
EUR	400,000		Caisse d’Amortissement de la Dette Sociale	1.375		11/25/24		477
CAD	1,300,000	g	Canada Housing Trust No 1	2.550		12/15/23		1,015
	1,250,000		Canadian Government Bond	2.250		06/01/29		1,019
	1,960,000		Canadian Government International Bond	1.750		08/01/20		1,479
	1,000,000		Canadian Government International Bond	5.000		06/01/37		1,165
$	19,500,000	g	CDP Financial, Inc	2.750		03/07/22		19,944
	3,000,000		Chile Government International Bond	2.250		10/30/22		3,011
CNY	6,500,000		China Government Bond	4.000		05/22/24		953
$	6,125,000		Colombia Government International Bond	2.625		03/15/23		6,148
	2,100,000		Colombia Government International Bond	5.000		06/15/45		2,460
	4,100,000	g	Costa Rica Government International Bond	5.625		04/30/43		3,562
	20,200,000	g	CPPIB Capital, Inc	2.250		01/25/22		20,422
	16,400,000	g	CPPIB Capital, Inc	2.750		11/02/27		17,398
DOP	48,650,000	g	Dominican Republic Government International Bond	8.900		02/15/23		938
	2,000,000	g	Dominican Republic Government International Bond	6.500		02/15/48		2,150

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
EGP	19,025,000		Egypt Government Bond	15.900	%	07/02/24	$	1,228
$	2,275,000	g	Egypt Government International Bond	5.577		02/21/23		2,322
	725,000	g	Egypt Government International Bond	7.600		03/01/29		768
EUR	700,000	g	Egypt Government International Bond	6.375		04/11/31		792
$	2,700,000	g	Egypt Government International Bond	8.500		01/31/47		2,861
	1,445,000	g	El Salvador Government International Bond	7.125		01/20/50		1,470
	10,000,000		European Investment Bank	2.500		04/15/21		10,109
	3,500,000		European Investment Bank	4.875		02/15/36		4,854
	15,000,000		Export Development Canada	2.000		11/30/20		15,022
	4,000,000	g	Export-Import Bank of India	3.875		02/01/28		4,233
EUR	1,100,000	g	Finland Government International Bond	0.500		09/15/29		1,297
	3,000,000		French Republic Government Bond OAT	0.500		05/25/25		3,470
	2,650,000		French Republic Government Bond OAT	0.750		11/25/28		3,176
	1,250,000		French Republic Government Bond OAT	1.250		05/25/34		1,612
	1,200,000	g	French Republic Government Bond OAT	2.000		05/25/48		1,838
$	2,325,000	g	Ghana Government International Bond	8.125		03/26/32		2,335
	1,000,000	g	Ghana Government International Bond	8.627		06/16/49		999
	3,600,000	g	Guatemala Government International Bond	4.500		05/03/26		3,707
	450,000	g	Guatemala Government International Bond	4.375		06/05/27		459
	600,000	g	Guatemala Government International Bond	6.125		06/01/50		699
EUR	1,125,000	g	Hellenic Republic Government Bond	1.875		07/23/26		1,290
	2,150,000	g	Hellenic Republic Government International Bond	4.375		08/01/22		2,607
	1,500,000	g	Hellenic Republic Government International Bond	3.875		03/12/29		2,000
$	3,650,000	g	Honduras Government International Bond	6.250		01/19/27		3,947
CAD	1,800,000		Hydro-Quebec	5.000		02/15/45		2,029
IDR	12,500,000,000		Indonesia Treasury Bond	7.500		05/15/38		861
AUD	500,000		Inter-American Development Bank	4.750		08/27/24		393
	900,000		Inter-American Development Bank	2.750		10/30/25		657
	1,300,000		International Bank for Reconstruction & Development	2.800		01/13/21		896
NZD	941,000		International Bank for Reconstruction & Development	3.375		01/25/22		618
AUD	400,000		International Bank for Reconstruction & Development	2.200		02/27/24		281
$	1,500,000	g	Iraq Government International Bond	5.800		01/15/28		1,461
	6,200,000		Israel Government International Bond	3.250		01/17/28		6,717
ILS	3,100,000		Israel Government International Bond	5.500		01/31/42		1,484
	3,200,000		Israel Government International Bond	3.750		03/31/47		1,234
$	4,375,000		Israel Government International Bond	4.125		01/17/48		5,134
EUR	1,375,000		Italy Buoni Poliennali Del Tesoro	0.350		06/15/20		1,505
	1,250,000		Italy Buoni Poliennali Del Tesoro	0.050		04/15/21		1,369
	3,500,000		Italy Buoni Poliennali Del Tesoro	2.450		10/01/23		4,173
	3,345,000		Italy Buoni Poliennali Del Tesoro	1.250		12/01/26		3,839
	1,225,000	g	Italy Buoni Poliennali Del Tesoro	2.950		09/01/38		1,637
	1,050,000	g	Italy Buoni Poliennali Del Tesoro	3.850		09/01/49		1,649
	1,000,000	g	Ivory Coast Government International Bond	6.625		03/22/48		1,101
$	1,350,000		Jamaica Government International Bond	7.875		07/28/45		1,765
	6,000,000		Japan Bank for International Cooperation	2.375		04/20/26		6,157
	2,000,000	g	Japan Finance Organization for Municipalities	2.000		09/08/20		1,997
	2,700,000	g	Japan Finance Organization for Municipalities	2.125		02/12/21		2,702
	4,000,000	g	Japan Finance Organization for Municipalities	2.125		04/13/21		4,008
	6,650,000	g	Japan Finance Organization for Municipalities	3.375		09/27/23		6,997
	2,500,000	g	Japan Finance Organization for Municipalities	3.000		03/12/24		2,611
JPY	113,000,000		Japan Finance Organization for Municipalities	0.450		03/14/25		1,075
	103,000,000		Japan Finance Organization for Municipalities	0.484		06/13/25		983
	140,000,000		Japan Finance Organization for Municipalities	0.020		03/13/26		1,302

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
JPY	76,000,000		Japan Government Five Year Bond		0.100	%	06/20/23	$	715
	440,000,000		Japan Government Ten Year Bond		0.100		09/20/26		4,203
	369,000,000		Japan Government Ten Year Bond		0.100		12/20/26		3,530
	350,000,000		Japan Government Thirty Year Bond		2.400		11/20/31		4,228
	350,000,000		Japan Government Thirty Year Bond		2.300		05/20/32		4,215
	418,000,000		Japan Government Thirty Year Bond		2.500		09/20/34		5,296
	450,000,000		Japan Government Thirty Year Bond		0.500		09/20/46		4,363
	114,000,000		Japan Government Thirty Year Bond		0.700		06/20/48		1,158
	530,000,000		Japan Government Twenty Year Bond		1.900		03/22/21		5,061
	93,000,000		Japan Government Twenty Year Bond		0.600		12/20/36		932
	219,000,000		Japan Government Twenty Year Bond		0.500		12/20/38		2,149
	153,000,000		Japan Government Twenty Year Bond		0.300		06/20/39		1,443
$	1,000,000	g	Jordan Government International Bond		5.750		01/31/27		1,025
EUR	1,000,000	g	Kazakhstan Government International Bond		1.500		09/30/34		1,087
$	1,525,000	g	Kenya Government International Bond		6.875		06/24/24		1,608
	600,000	g	Kenya Government International Bond		7.000		05/22/27		623
EUR	1,725,000	g	Kingdom of Belgium Government International Bond		0.900		06/22/29		2,095
	1,080,000		Kingdom of Belgium Government International Bond		1.250		04/22/33		1,389
	1,025,000	g	Kingdom of Belgium Government International Bond		1.600		06/22/47		1,450
$	3,550,000	g	Kommunalbanken AS.		1.625		01/15/20		3,545
	1,925,000	g	Kommunalbanken AS.		1.375		10/26/20		1,914
	3,750,000	g	Kommunalbanken AS.		1.625		02/10/21		3,739
	5,000,000	g	Kommunalbanken AS.		2.250		01/25/22		5,059
	2,600,000	g	Kommunalbanken AS.		2.750		02/05/24		2,716
EUR	500,000		Kommunalbanken AS.		0.625		04/20/26		579
$	4,500,000	g	Kommuninvest I Sverige AB		2.250		05/29/21		4,533
	2,833,000	g	Kommuninvest I Sverige AB		2.625		09/15/22		2,907
	4,150,000	g	Kommuninvest I Sverige AB		1.625		10/24/22		4,157
	4,000,000	i	Korea Development Bank	LIBOR 3 M + 0.550%	2.669		03/12/21		4,008
	2,675,000	g	Korea Housing Finance Corp		2.000		10/11/21		2,661
	5,775,000	g	Korea Housing Finance Corp		3.000		10/31/22		5,883
KRW	4,630,000,000		Korea Treasury Bond		1.375		09/10/21		3,873
	1,800,000,000		Korea Treasury Bond		1.500		12/10/26		1,510
	1,600,000,000		Korea Treasury Bond		2.375		12/10/28		1,441
	3,435,000,000		Korea Treasury Bond		2.375		09/10/38		3,304
$	45,000,000		Kreditanstalt fuer Wiederaufbau		2.750		10/01/20		45,385
	18,750,000		Kreditanstalt fuer Wiederaufbau		2.625		01/25/22		19,163
	5,750,000	g	Kuwait Government International Bond		2.750		03/20/22		5,822
	1,750,000		Lebanon Government International Bond		6.750		11/29/27		1,131
	5,250,000	g	Lithuania Government International Bond		6.625		02/01/22		5,791
MYR	3,100,000		Malaysia Government Bond		4.893		06/08/38		856
MXN	23,500,000		Mexican Bonos		5.750		03/05/26		1,127
	14,300,000		Mexican Bonos		7.750		05/29/31		768
$	4,925,000		Mexico Government International Bond		3.600		01/30/25		5,115
EUR	900,000		Mexico Government International Bond		1.625		04/08/26		1,024
$	3,000,000		Mexico Government International Bond		4.150		03/28/27		3,179
	6,051,000		Mexico Government International Bond		6.050		01/11/40		7,617
	3,000,000	g	Mongolia Government International Bond		5.125		12/05/22		2,992
	5,750,000	g	Morocco Government International Bond		5.500		12/11/42		6,867

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	3,075,000	g	Namibia Government International Bond	5.250	%	10/29/25	$	3,105
	4,500,000	g	Nederlandse Waterschapsbank NV	2.125		11/15/21		4,532
	5,000,000	g	Nederlandse Waterschapsbank NV	1.875		04/14/22		5,019
	4,000,000	g	Nederlandse Waterschapsbank NV	3.125		12/05/22		4,173
EUR	1,075,000	g	Netherlands Government International Bond	0.750		07/15/28		1,302
AUD	500,000		New South Wales Treasury Corp	4.000		05/20/26		398
NZD	1,350,000		New Zealand Government International Bond	3.000		04/20/29		991
	1,175,000		New Zealand Government International Bond	2.750		04/15/37		884
$	4,600,000	g	Nigeria Government International Bond	6.500		11/28/27		4,651
NOK	26,500,000	g	Norway Government International Bond	1.750		09/06/29		3,051
$	1,500,000	g	Oman Government International Bond	6.000		08/01/29		1,493
	21,300,000	g	OMERS Finance Trust	2.500		05/02/24		21,965
	15,000,000	g	Ontario Teachers’ Finance Trust	1.625		09/12/24		14,881
	6,455,000	g	Panama Notas del	3.750		04/17/26		6,810
	1,650,000	g	Paraguay Government International Bond	4.700		03/27/27		1,784
	925,000	g	Paraguay Government International Bond	5.400		03/30/50		1,052
	4,275,000	g	Perusahaan Penerbit SBSN Indonesia III	3.900		08/20/24		4,506
	9,350,000	g	Perusahaan Penerbit SBSN Indonesia III	4.400		03/01/28		10,187
PEN	4,860,000	g	Peruvian Government International Bond	8.200		08/12/26		1,830
$	4,900,000		Peruvian Government International Bond	2.844		06/20/30		5,010
	625,000	g	Petroamazonas EP	4.625		11/06/20		618
PHP	45,000,000		Philippine Government International Bond	4.950		01/15/21		876
EUR	1,050,000		Philippine Government International Bond	0.875		05/17/27		1,183
$	1,000,000		Philippine Government International Bond	3.750		01/14/29		1,119
	1,700,000		Philippine Government International Bond	3.700		03/01/41		1,960
	3,000,000		Philippine Government International Bond	3.700		02/02/42		3,457
PLN	6,600,000		Poland Government International Bond	4.000		10/25/23		1,790
EUR	1,525,000	g	Portugal Obrigacoes do Tesouro OT	1.950		06/15/29		1,949
$	15,000,000		Province of British Columbia Canada	2.000		10/23/22		15,122
CAD	2,350,000		Province of British Columbia Canada	2.550		06/18/27		1,852
$	10,000,000		Province of Manitoba Canada	3.050		05/14/24		10,553
	25,000,000		Province of Manitoba Canada	2.125		06/22/26		25,312
CAD	1,300,000		Province of New Brunswick Canada	3.100		08/14/28		1,058
$	25,000,000		Province of Ontario Canada	3.050		01/29/24		26,317
	22,500,000		Province of Quebec Canada	3.500		07/29/20		22,779
CAD	1,650,000		Province of Quebec Canada	2.750		09/01/27		1,315
$	6,000,000		Province of Quebec Canada	7.500		09/15/29		8,888
	2,000,000	g	Provincia de Mendoza Argentina	8.375		05/19/24		1,120
	4,200,000	g	Qatar Government International Bond	4.817		03/14/49		5,194
EUR	850,000	g	Republic of Austria Government International Bond	0.750		02/20/28		1,018
$	2,000,000	g	Republic of Azerbaijan Government International Bond	5.125		09/01/29		2,141
	1,200,000	g	Republic of Paraguay	6.100		08/11/44		1,460
PLN	3,800,000		Republic of Poland Government International Bond	2.250		04/25/22		963
	2,805,000		Republic of Poland Government International Bond	2.750		10/25/29		746
$	2,475,000		Republic of South Africa Government International Bond	4.850		09/27/27		2,532
	3,225,000	g	Republic of Uzbekistan Government International Bond	4.750		02/20/24		3,379
	1,500,000	g	Saudi Government International Bond	2.375		10/26/21		1,502
	11,775,000	g	Saudi Government International Bond	4.500		04/17/30		13,407
EUR	1,000,000	g	Senegal Government International Bond	4.750		03/13/28		1,131
	2,000,000	g	Senegal Government International Bond	6.250		05/23/33		2,015
	2,000,000	g	Senegal Government International Bond	6.750		03/13/48		1,931

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
EUR	500,000	g	Serbia Government International Bond		1.500	%	06/26/29	$	567
RSD	96,000,000		Serbia Treasury Bonds		5.875		02/08/28		1,044
SGD	1,300,000		Singapore Government International Bond		2.625		05/01/28		1,009
$	4,000,000		South Africa Government International Bond		5.875		09/16/25		4,358
ZAR	12,200,000		South Africa Government International Bond		10.500		12/21/26		899
	15,100,000		South Africa Government International Bond		8.750		01/31/44		888
EUR	1,125,000	g	Spain Government Bond		0.600		10/31/29		1,282
	2,220,000		Spain Government International Bond		0.400		04/30/22		2,474
	2,550,000	g	Spain Government International Bond		2.750		10/31/24		3,211
	845,000	g	Spain Government International Bond		1.400		07/30/28		1,030
	1,100,000	g	Spain Government International Bond		1.850		07/30/35		1,430
	1,200,000	g	Spain Government International Bond		2.700		10/31/48		1,848
$	750,000	g	Sri Lanka Government International Bond		6.850		03/14/24		768
	1,000,000	g	Sri Lanka Government International Bond		6.125		06/03/25		970
	4,000,000		Svensk Exportkredit AB		1.750		03/10/21		3,994
SEK	12,000,000		Sweden Government International Bond		2.250		06/01/32		1,584
THB	46,000,000		Thailand Government International Bond		3.650		12/17/21		1,579
	48,800,000		Thailand Government International Bond		3.300		06/17/38		2,048
$	1,000,000		Turkey Government International Bond		6.350		08/10/24		1,018
	2,950,000		Turkey Government International Bond		6.875		03/17/36		2,941
UAH	25,000,000		Ukraine Government International Bond		17.000		05/11/22		1,057
EUR	1,000,000	g	Ukraine Government International Bond		6.750		06/20/26		1,174
$	2,100,000	g	Ukraine Government International Bond		7.375		09/25/32		2,111
GBP	1,200,000		United Kingdom Gilt		0.500		07/22/22		1,484
	3,050,000		United Kingdom Gilt		1.625		10/22/28		4,159
	2,450,000		United Kingdom Gilt		4.750		12/07/30		4,411
	2,450,000		United Kingdom Gilt		1.750		09/07/37		3,457
	900,000		United Kingdom Gilt		1.500		07/22/47		1,248
	775,000		United Kingdom Gilt		1.625		10/22/54		1,150
	975,000		United Kingdom Gilt		1.750		07/22/57		1,531
UYU	21,800,000	g	Uruguay Government International Bond		8.500		03/15/28		509
$	2,357,410	h	Uruguay Government International Bond		4.375		01/23/31		2,601
AUD	2,735,000		Western Australian Treasury Corp		2.750		07/24/29		2,048
			TOTAL FOREIGN GOVERNMENT BONDS						794,662
MORTGAGE BACKED - 20.6%
	7,732,106		Federal Home Loan Mortgage Corp (FHLMC)		3.000		10/15/33		8,096
	27,116,749		FHLMC		3.500		08/15/43		28,300
	7,890,534		FHLMC		3.000		03/15/44		8,063
	35,810,851	i	FHLMC	LIBOR 1 M + 0.300%	2.328		06/15/48		35,545
	22,381,782	i	FHLMC		6.676		06/15/48		27,190
	30,000,000	h	FHLMC		3.000		09/01/48		30,715
	18,995,920	i	FHLMC		6.596		10/15/48		22,517
	6,108		Federal Home Loan Mortgage Corp Gold (FGLMC)		7.000		10/01/20		6
	4,689		FGLMC		7.000		05/01/23		5
	20,313		FGLMC		8.000		01/01/31		21
	5,101		FGLMC		7.000		01/01/32		5
	515,887		FGLMC		4.500		07/01/33		555
	3,452,339		FGLMC		7.000		12/01/33		3,993
	1,196,047		FGLMC		4.500		10/01/34		1,286
	667,354		FGLMC		4.500		04/01/35		723
	1,057,112		FGLMC		7.000		05/01/35		1,218
	2,944,770		FGLMC		5.000		06/01/36		3,254

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	1,115,169		FGLMC		5.000	%	07/01/39	$	1,233
	138,395		FGLMC		4.500		12/01/43		149
	90,842		FGLMC		4.500		02/01/44		98
	3,403,251		FGLMC		4.500		10/01/44		3,675
	1,352,208		FGLMC		4.500		11/01/44		1,459
	1,966,873		FGLMC		4.500		11/01/44		2,123
	846,402		FGLMC		4.500		12/01/44		900
	1,392,449		FGLMC		4.500		12/01/44		1,504
	6,763,758		FGLMC		3.500		04/01/45		7,145
	834,917		FGLMC		4.500		05/01/45		865
	31,203,476		FGLMC		3.500		08/01/45		33,051
	54,476,637		FGLMC		3.500		10/01/45		57,399
	32,300,777		FGLMC		4.000		12/01/45		34,516
	82,265,983		FGLMC		3.500		08/01/46		86,729
	117,492,147		FGLMC		3.000		01/01/47		120,440
	91,627,341		FGLMC		3.000		02/01/47		93,818
	29,370,742		FGLMC		3.500		02/01/47		30,458
	2,787,116		FGLMC		4.500		06/01/47		3,009
	5,697,684		FGLMC		4.000		09/01/47		6,070
	6,298,820		FGLMC		3.500		12/01/47		6,636
	28,967,009		FGLMC		3.500		03/01/48		30,461
	36,509,244		FGLMC		4.000		03/01/48		39,000
	18,713,995		FGLMC		4.000		07/01/48		19,965
	28,231,773		FGLMC		4.500		08/01/48		30,543
	13,559,142		FGLMC		4.500		10/01/48		14,667
	16,579,453		FGLMC		3.500		11/01/48		17,418
	42,150		Federal National Mortgage Association (FNMA)		8.000		07/01/24		47
	9,758		FNMA		9.000		11/01/25		11
	5,957,629		FNMA		3.500		05/01/32		6,192
	539,766		FNMA		4.500		10/01/33		581
	971,191		FNMA		4.500		05/01/35		1,050
	6,118,133		FNMA		5.000		05/01/35		6,754
	2,725,144		FNMA		5.000		10/01/35		3,010
	2,317,023		FNMA		5.000		02/01/36		2,559
	4,516,738		FNMA		5.500		11/01/38		5,098
	5,354,474		FNMA		5.000		09/01/40		5,918
	7,719,797		FNMA		5.000		05/01/41		8,511
	15,081,242		FNMA		3.500		04/01/43		15,842
	7,292,667		FNMA		3.000		04/25/43		7,469
	12,800,167		FNMA		3.500		09/01/43		13,448
	13,869,292	i	FNMA		3.932		09/25/43		2,512
	6,595,761		FNMA		4.000		01/01/44		7,048
	9,984,724		FNMA		4.500		03/01/44		10,829
	6,209,332		FNMA		4.500		06/01/44		6,702
	6,403,469		FNMA		4.500		10/01/44		6,914
	12,324,916		FNMA		4.500		11/01/44		13,308
	4,434,104		FNMA		5.000		11/01/44		4,892
	3,654,178		FNMA		4.500		12/01/44		3,946
	5,570,458		FNMA		4.000		01/01/45		5,930
	35,211,096		FNMA		3.000		02/25/45		36,714
	7,779,904		FNMA		3.000		02/25/45		7,930
	571,678		FNMA		3.500		03/01/45		599
	374,869		FNMA		3.500		03/01/45		396
	1,401,924		FNMA		4.500		03/01/45		1,513

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	10,213,000		FNMA	3.000	%	03/25/45	$	10,515
	601,542		FNMA	4.500		04/01/45		649
	30,369,002		FNMA	3.500		04/25/45		31,648
	28,696,031		FNMA	3.500		04/25/45		29,816
	13,598,721		FNMA	3.500		05/01/45		14,396
	7,821,772		FNMA	4.000		06/01/45		8,355
	12,240,375		FNMA	4.000		12/01/45		13,068
	63,422,168		FNMA	3.000		12/25/45		65,328
	19,576,403		FNMA	3.500		01/01/46		20,615
	34,082,551		FNMA	4.000		01/01/46		36,399
	1,021,747		FNMA	4.000		03/01/46		1,090
	17,381,981		FNMA	3.500		06/01/46		18,304
	18,887,351	h	FNMA	3.500		07/01/46		19,874
	4,105,783		FNMA	3.500		08/01/46		4,282
	9,087,266		FNMA	3.000		10/01/46		9,172
	19,632,617		FNMA	3.500		10/01/46		20,674
	31,233,236		FNMA	3.000		11/01/46		31,998
	41,998,760		FNMA	3.500		12/01/46		43,644
	95,694,225		FNMA	3.500		01/01/47		99,071
	8,277,288		FNMA	3.000		04/25/47		8,537
	9,483,339		FNMA	4.500		05/01/47		10,249
	3,628,671		FNMA	3.500		08/01/47		3,778
	2,110,152		FNMA	3.000		11/01/47		2,130
	6,064,399		FNMA	3.000		11/01/47		6,120
	14,218,797		FNMA	3.500		11/01/47		15,011
	49,148,486		FNMA	4.000		12/01/47		52,484
	3,503,881		FNMA	3.500		01/01/48		3,679
	15,397,121		FNMA	4.500		01/01/48		16,653
	13,157,784		FNMA	4.500		02/01/48		14,228
	121,041,806		FNMA	3.000		02/25/48		125,653
	14,832,085		FNMA	4.000		03/01/48		15,835
	58,512,385		FNMA	4.500		03/01/48		63,272
	160,631,432		FNMA	4.000		04/01/48		167,939
	11,054,044		FNMA	4.500		05/01/48		11,953
	8,321,972		FNMA	4.500		05/01/48		8,999
	17,462,820		FNMA	5.000		06/01/48		18,728
	36,562,607	h	FNMA	4.500		07/01/48		38,553
	33,631,359		FNMA	4.000		08/01/48		34,904
	5,995,308		FNMA	4.500		08/01/48		6,306
	21,915,743		FNMA	5.000		08/01/48		24,100
	33,542,122		FNMA	4.000		09/01/48		34,910
	22,000,000	h	FNMA	3.500		10/25/48		22,571
	158,915,753		FNMA	3.000		11/01/48		162,176
	51,833,724		FNMA	4.500		11/01/48		54,697
	18,580,448		FNMA	3.000		11/25/48		2,622
	50,033,835	h	FNMA	4.000		12/01/48		52,007
	45,970,044		FNMA	4.500		12/01/48		48,393
	12,022,206		FNMA	3.000		06/01/49		12,130
	5,876,211		FNMA	5.000		06/01/49		6,310
	6,138,251		FNMA	3.000		08/01/49		6,330
	58,029,249	h	FNMA	4.000		10/01/49		60,338
	13,453,950		Government National Mortgage Association (GNMA)	3.700		10/15/33		14,259
	540,700		GNMA	5.000		04/15/38		608

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	448,209		GNMA		6.500	%	11/20/38	$	517
	62,038		GNMA		4.500		02/20/39		70
	127,724		GNMA		2.176		05/16/39		127
	1,762,787		GNMA		5.000		06/15/39		1,980
	1,006,108		GNMA		5.000		06/15/39		1,106
	11,037,821		GNMA		3.700		08/15/40		11,719
	83,376		GNMA		4.500		08/20/41		91
	304,046		GNMA		4.500		09/20/41		341
	68,686		GNMA		4.500		01/20/44		77
	69,051		GNMA		4.500		02/20/44		77
	132,547		GNMA		4.500		05/20/44		149
	855,591		GNMA		4.500		05/20/44		960
	974,927		GNMA		4.500		08/20/44		1,093
	616,588		GNMA		4.500		09/20/44		685
	367,821		GNMA		4.500		10/20/44		408
	144,395		GNMA		4.500		11/20/44		152
	603,395		GNMA		4.500		12/20/44		677
	808,180		GNMA		4.500		02/20/45		880
	934,975		GNMA		4.500		08/20/45		1,004
	947,011		GNMA		4.500		08/20/45		1,062
	983,196		GNMA		4.500		12/20/45		1,102
	14,154,034	†	GNMA		4.000		06/20/46		1,874
	5,225,123		GNMA		3.000		09/20/47		5,382
	32,497,383		GNMA		3.000		12/20/47		33,398
	101,681,079		GNMA		3.500		12/20/47		105,617
	18,714,610		GNMA		3.000		01/20/48		19,233
	62,253,145		GNMA		3.500		01/20/48		64,636
	22,670,665		GNMA		3.500		01/20/49		23,959
	33,685,943		GNMA		4.000		07/20/49		35,130
			TOTAL MORTGAGE BACKED						2,919,412
MUNICIPAL BONDS - 5.1%
	14,595,000		Bay Area Toll Authority		3.552		04/01/54		14,806
	16,270,000		California State University		3.899		11/01/47		18,559
	2,975,000		Chicago Housing Authority		3.682		01/01/25		3,178
	845,000		City & County of San Francisco CA		3.750		09/01/37		900
	2,000,000		City & County of San Francisco CA		4.000		09/01/48		2,118
	245,000		City & County of San Francisco CA Community Facilities District		3.264		09/01/25		257
	1,000,000		City & County of San Francisco CA Community Facilities District		4.038		09/01/34		1,099
	2,950,000		City & County of San Francisco CA Community Facilities District		4.221		09/01/39		3,250
	8,080,000		City of Austin TX Electric Utility Revenue		2.456		11/15/22		8,233
	6,590,000		City of Austin TX Electric Utility Revenue		2.524		11/15/23		6,779
	8,025,000		City of Austin TX Electric Utility Revenue		2.574		11/15/24		8,306
	4,940,000		City of Austin TX Electric Utility Revenue		2.677		11/15/25		5,149
	8,725,000		City of Dallas TX Waterworks & Sewer System Revenue		1.217		10/01/19		8,725
	5,000,000		City of Dallas TX Waterworks & Sewer System Revenue		1.868		10/01/22		5,001
	2,775,000		City of Dallas TX Waterworks & Sewer System Revenue		2.068		10/01/23		2,794

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,350,000		City of Dallas TX Waterworks & Sewer System Revenue		2.389	%	10/01/25	$	1,379
	3,995,000		City of Los Angeles CA Wastewater System Revenue		4.029		06/01/39		4,372
	7,470,000		City of New York NY		3.010		08/01/24		7,827
	4,870,000		City of New York NY		3.430		12/01/24		5,216
	4,940,000		City of New York NY		3.200		12/01/26		5,263
	2,025,000		City of San Antonio TX Customer Facility Charge Revenue		4.253		07/01/24		2,197
	1,575,000		City of San Antonio TX Customer Facility Charge Revenue		4.353		07/01/25		1,735
	20,000,000		City of San Francisco CA Public Utilities Commission Water Revenue		4.035		11/01/41		21,378
	7,215,000		Commonwealth Financing Authority		3.864		06/01/38		8,021
	19,355,000		Commonwealth Financing Authority		3.807		06/01/41		21,406
	1,875,000		County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,861
	1,505,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,503
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		1,504
	2,500,000		County of Miami-Dade FL Aviation Revenue		3.285		10/01/23		2,595
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,535
	2,250,000		County of Miami-Dade FL Aviation Revenue		3.405		10/01/24		2,368
	4,365,000		County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		4,423
	2,375,000		County of Miami-Dade FL Aviation Revenue		3.505		10/01/25		2,526
	2,500,000		County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,550
	3,940,000		County of Miami-Dade FL Aviation Revenue		3.049		10/01/26		4,111
	3,750,000		County of Miami-Dade FL Aviation Revenue		3.612		10/01/26		4,058
	4,700,000		County of Miami-Dade FL Aviation Revenue		2.529		10/01/30		4,652
	3,730,000		County of Miami-Dade FL Aviation Revenue		3.732		10/01/37		4,005
	3,900,000		County of Miami-Dade FL Aviation Revenue		3.982		10/01/41		4,183
	9,160,000		County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		10,043
	7,890,000		Denver City & County School District No		4.242		12/15/37		8,992
	39,400,000		Florida Hurricane Catastrophe Fund Finance Corp		2.995		07/01/20		39,672
	5,080,000		Illinois Finance Authority		3.944		08/15/47		5,624
	2,350,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.500		09/01/21		2,334
	1,000,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		2.000		09/01/22		1,004
	4,805,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		4,978
	2,000,000	h	Menlo Park City School District		2.969		07/01/38		2,017
	2,560,000		Michigan Finance Authority		1.941		11/01/21		2,549
	3,000,000		Michigan Finance Authority		2.244		11/01/22		2,999
	13,330,000		Michigan Finance Authority		2.862		09/01/49		13,580
	14,000,000		Michigan Finance Authority		2.988		09/01/49		14,520
	570,000		New Jersey Economic Development Authority		3.500		06/15/20		574
	500,000		New Jersey Economic Development Authority		3.700		06/15/21		509
	1,110,000		New Jersey Economic Development Authority		3.800		07/01/22		1,143
	870,000		New York City Housing Development Corp		3.403		05/01/22		899
	750,000		New York City Housing Development Corp		3.453		11/01/22		780
	1,360,000		New York City Housing Development Corp		3.523		05/01/23		1,427
	1,815,000		New York City Housing Development Corp		3.573		11/01/23		1,917
	1,000,000		New York City Housing Development Corp		3.650		05/01/24		1,066
	5,680,000		New York State Dormitory Authority		3.998		07/01/39		6,130
	10,605,000		New York State Dormitory Authority		4.294		07/01/44		11,825
	6,000,000		New York State Dormitory Authority		3.879		07/01/46		6,307

349

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	855,000	Oklahoma City Economic Development Trust		3.172	%	09/01/21	$	872
	1,120,000	Oklahoma City Economic Development Trust		3.222		09/01/22		1,156
	810,000	Oklahoma City Economic Development Trust		3.440		09/01/24		857
	2,350,000	Oregon State Lottery		2.505		04/01/24		2,410
	3,500,000	Palm Beach County Solid Waste Authority		2.083		10/01/21		3,511
	2,320,000	Permanent University Fund		2.258		07/01/20		2,326
	2,160,000	Permanent University Fund		2.408		07/01/21		2,181
	2,750,000	Permanent University Fund		2.508		07/01/22		2,802
	2,855,000	Permanent University Fund		2.608		07/01/23		2,940
	3,250,000	Permanent University Fund		2.708		07/01/24		3,380
	2,335,000	Permanent University Fund		2.808		07/01/25		2,447
	3,775,000	Permanent University Fund		2.908		07/01/26		3,975
	4,000,000	Permanent University Fund		3.008		07/01/27		4,225
	2,000,000	Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,057
	3,400,000	Port of Corpus Christi Authority of Nueces County		3.287		12/01/23		3,544
	1,500,000	Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,579
	1,000,000	Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		1,061
	7,500,000	Port of Morrow OR		1.582		09/01/20		7,472
	2,075,000	Port of Morrow OR		1.782		09/01/21		2,066
	4,355,000	Public Finance Authority		4.269		07/01/40		4,948
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		1,004
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		1,009
	1,250,000	Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,266
	1,785,000	Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,812
	1,600,000	Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,630
	700,000	Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		715
	900,000	Regents of the University of California Medical Center Pooled Revenue		2.759		05/15/29		919
	6,000,000	San Francisco City & County Airport Comm-San Francisco International Airport		3.046		05/01/22		6,175
	6,360,000	San Jose Redevelopment Agency		3.375		08/01/34		6,694
	335,000	Santa Ana Community Redevelopment Agency Successor Agency		3.346		09/01/21		344
	1,340,000	Santa Ana Community Redevelopment Agency Successor Agency		3.467		09/01/22		1,398
	1,340,000	Santa Ana Community Redevelopment Agency Successor Agency		3.567		09/01/23		1,421
	13,060,000	State of California		4.600		04/01/38		14,552
	3,060,000	State of Georgia		2.000		07/01/20		3,063
	3,215,000	State of Georgia		2.150		07/01/21		3,231
	3,465,000	State of Georgia		1.910		02/01/23		3,463
	3,905,000	State of Georgia		2.750		07/01/25		3,980
	4,100,000	State of Georgia		2.850		07/01/26		4,181
	4,305,000	State of Georgia		2.950		07/01/27		4,388
	4,520,000	State of Georgia		3.050		07/01/28		4,618
	3,245,000	State of Georgia		3.150		07/01/29		3,323
	7,160,000	State of Illinois		5.463		02/01/20		7,220

350

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	12,500,000		State of Illinois		1.930	%	06/15/20	$	12,441
	12,500,000		State of Illinois		2.250		06/15/21		12,408
	12,500,000		State of Illinois		3.150		06/15/26		12,619
	12,500,000		State of Illinois		3.250		06/15/27		12,591
	27,150,000		State of Illinois		5.100		06/01/33		29,407
	20,000,000		State of Michigan		1.579		11/01/20		19,964
	13,000,000		State of Michigan		1.779		11/01/21		13,014
	7,000,000		State of Michigan		1.966		11/01/22		7,050
	9,700,000		State of Oregon Department of Administrative Services		4.103		05/01/39		10,612
	9,900,000		State of Wisconsin		3.154		05/01/27		10,535
	7,000,000		The Ohio State University		3.798		12/01/46		7,970
	6,000,000		University of California		2.570		05/15/22		6,111
	25,860,000		University of California		3.063		07/01/25		27,155
	10,230,000		University of California		4.601		05/15/31		12,026
	17,045,000		University of California		3.931		05/15/45		19,108
	20,000,000		University of New Mexico		3.532		06/20/32		21,256
	835,000		Utah Municipal Power Agency		1.823		07/01/20		833
	500,000		Utah Municipal Power Agency		2.023		07/01/21		500
	1,750,000		Utah Municipal Power Agency		2.262		07/01/22		1,761
	1,500,000		Utah Municipal Power Agency		2.512		07/01/23		1,524
	2,160,000		Virginia Port Authority		4.228		07/01/36		2,332
	390,000		Washington Convention & Sports Authority		3.969		10/01/30		429
			TOTAL MUNICIPAL BONDS						726,572
U.S. TREASURY SECURITIES - 12.8%
	66,677,000		United States Treasury Bond		4.500		02/15/36		91,952
	4,500,000		United States Treasury Bond		4.750		02/15/37		6,452
	58,750,000		United States Treasury Bond		3.500		02/15/39		73,642
	11,900,000		United States Treasury Bond		3.875		08/15/40		15,742
	19,135,000		United States Treasury Bond		4.375		05/15/41		27,065
	16,434,000		United States Treasury Bond		3.750		08/15/41		21,432
	56,375,000		United States Treasury Bond		3.625		08/15/43		72,759
	35,680,000		United States Treasury Bond		3.000		05/15/45		42,040
	81,710,000		United States Treasury Bond		2.875		08/15/45		94,228
	102,850,000		United States Treasury Bond		2.500		05/15/46		110,853
	1,075,000		United States Treasury Bond		3.000		05/15/47		1,275
	58,160,000		United States Treasury Bond		2.750		11/15/47		65,927
	6,655,000		United States Treasury Bond		3.000		02/15/48		7,908
	41,095,000		United States Treasury Bond		3.125		05/15/48		49,990
	85,945,000		United States Treasury Bond		3.000		08/15/48		102,288
	95,520,000		United States Treasury Bond		3.375		11/15/48		121,803
	31,127,544	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		31,527
	14,075,000		United States Treasury Note		2.250		02/29/20		14,094
	1,665,000		United States Treasury Note		1.625		03/15/20		1,663
	5,340,000		United States Treasury Note		2.250		03/31/20		5,349
	51,445,000		United States Treasury Note		2.375		04/30/20		51,592
	76,920,000		United States Treasury Note		2.500		05/31/20		77,226
	39,810,000		United States Treasury Note		2.625		08/31/20		40,088
	9,925,000		United States Treasury Note		2.500		01/31/21		10,019
	12,589,300		United States Treasury Note		1.125		02/28/21		12,478
	45,220,000		United States Treasury Note		2.500		02/28/21		45,683
	25,300,000		United States Treasury Note		2.250		03/31/21		25,486
	93,675,000		United States Treasury Note		2.250		04/30/21		94,425

351

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	50,565,000		United States Treasury Note			2.625	%	05/15/21	$	51,292
	1,040,000		United States Treasury Note			1.375		05/31/21		1,034
	16,465,000		United States Treasury Note			2.000		05/31/21		16,541
	22,305,000		United States Treasury Note			2.625		06/15/21		22,646
	111,175,000		United States Treasury Note			1.750		07/31/21		111,327
	20,000,000		United States Treasury Note			1.500		09/30/21		19,952
	5,741,000		United States Treasury Note			1.500		09/15/22		5,730
	4,880,000		United States Treasury Note			2.625		02/28/23		5,049
	1,274,000		United States Treasury Note			2.750		04/30/23		1,326
	35,922,000		United States Treasury Note			2.750		05/31/23		37,416
	24,067,000		United States Treasury Note			2.500		02/28/26		25,360
	19,083,000		United States Treasury Note			2.375		04/30/26		19,983
	10,956,000		United States Treasury Note			1.875		07/31/26		11,137
	12,100,000		United States Treasury Note			1.625		09/30/26		12,103
	27,325,000		United States Treasury Note			2.750		02/15/28		29,671
	25,538,000		United States Treasury Note			1.625		08/15/29		25,427
	7,527,000		United States Treasury Note			2.875		05/15/49		8,786
	98,895,000		United States Treasury Note			2.250		08/15/49		101,812
			TOTAL U.S. TREASURY SECURITIES							1,821,578
			TOTAL GOVERNMENT BONDS							6,569,598
			(Cost $6,297,551)
STRUCTURED ASSETS - 17.5%
ASSET BACKED - 7.9%
	11,450,000		Ally Auto Receivables Trust			2.100		03/15/22		11,456
			Series - 2017 2 (Class A4)
	12,805,000		AmeriCredit Automobile Receivables Trust			3.340		08/08/21		12,846
			Series - 2015 3 (Class D)
	3,467,595		AmeriCredit Automobile Receivables Trust			1.900		03/18/22		3,462
			Series - 2017 3 (Class A3)
	5,500,000		AmeriCredit Automobile Receivables Trust			2.740		12/08/22		5,530
			Series - 2016 4 (Class D)
	6,325,000		AmeriCredit Automobile Receivables Trust			2.060		04/18/24		6,330
			Series - 2019 3 (Class A3)
	74,236	†,g	Asset Backed Funding Corp NIM Trust			5.900		07/26/35		0	^
			Series - 2005 WMC1 (Class N1)
	1,425,352	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 0.900%		3.386		08/25/34		1,416
			Series - 2004 HE5 (Class M1)
	8,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.450		03/20/23		8,217
			Series - 2019 1A (Class A)
	12,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.070		09/20/23		12,251
			Series - 2017 1A (Class A)
	32,000,000	g	Avis Budget Rental Car Funding AESOP LLC			2.970		03/20/24		32,692
			Series - 2017 2A (Class A)
	22,600,000		BA Credit Card Trust			1.740		01/15/25		22,521
			Series - 2019 A1 (Class A1)
	4,745,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.650%		2.694		02/28/41		4,694
			Series - 2006 A (Class M3)
	6,537,000	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 0.670%		2.688		04/25/36		6,534
			Series - 2006 SD1 (Class M1)

352

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	4,878,182	g	BRE Grand Islander Timeshare Issuer LLC			3.280	%	09/26/33	$	4,969
			Series - 2019 A (Class A)
	1,315,173		Capital Auto Receivables Asset Trust			1.690		03/20/21		1,314
			Series - 2016 3 (Class A4)
	7,691,771	g	Capital Automotive REIT			3.660		10/15/44		7,704
			Series - 2014 1A (Class A)
	6,638,284	g	Capital Automotive REIT			3.870		04/15/47		6,701
			Series - 2017 1A (Class A1)
	9,000,000		Capital One Multi-Asset Execution Trust			1.720		08/15/24		8,963
			Series - 2019 A2 (Class A2)
	5,800,000		Capital One Multi-Asset Execution Trust			2.430		01/15/25		5,878
			Series - 2017 A3 (Class A3)
	5,950,000		Carmax Auto Owner Trust			2.180		08/15/24		5,983
			Series - 2019 3 (Class A3)
	2,850,000		CarMax Auto Owner Trust			2.250		09/15/22		2,858
			Series - 2017 2 (Class A4)
	4,100,000		CarMax Auto Owner Trust			2.330		05/15/23		4,129
			Series - 2017 4 (Class A4)
	1,735,613	i	C-BASS Trust	LIBOR 1 M + 0.080%		2.098		07/25/36		1,716
			Series - 2006 CB6 (Class A1)
	428,194	i	Chase Funding Mortgage Loan Asset-Backed Certificates			5.700		02/26/35		444
			Series - 2004 2 (Class 1M2)
	325,613		CIT Group Home Equity Loan Trust (Step Bond)			6.200		02/25/30		333
			Series - 2002 1 (Class AF6)
	650,000	i	Citigroup Mortgage Loan Trust, Inc	LIBOR 1 M + 0.750%		2.768		01/25/36		649
			Series - 2006 WFH1 (Class M4)
	9,500,000		CNH Equipment Trust			2.170		04/17/23		9,524
			Series - 2017 B (Class A4)
	31,490,000		CNH Equipment Trust			2.360		11/15/24		31,706
			Series - 2017 C (Class A4)
	2,000,000		CNH Equipment Trust			3.300		04/15/25		2,061
			Series - 2018 A (Class A4)
	2,350,000		CNH Equipment Trust			3.220		01/15/26		2,442
			Series - 2019 A (Class A4)
	1,445,000		COMM Mortgage Trust			3.309		03/10/48		1,519
			Series - 2015 CR22 (Class A5)
	20,765,138	g	DB Master Finance LLC			3.629		11/20/47		21,264
			Series - 2017 1A (Class A2I)
	4,788,000	g	DB Master Finance LLC			3.787		05/20/49		4,931
			Series - 2019 1A (Class A2I)
	8,289,225	g	DB Master Finance LLC			4.021		05/20/49		8,593
			Series - 2019 1A (Class A2II)
	4,991,996	g	Diamond Resorts Owner Trust			3.700		01/21/31		5,091
			Series - 2018 1 (Class A)
	13,611,205	g	Diamond Resorts Owner Trust			2.890		02/20/32		13,658
			Series - 2019 1A (Class A)
	5,000,000		Discover Card Execution Note Trust			2.390		07/15/24		5,058
			Series - 2017 A2 (Class A2)
	39,273,500	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		39,407
			Series - 2017 1A (Class A2II)
	2,815,918	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		3.118		05/25/37		2,834
			Series - 2007 2 (Class A2C)

353

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	7,480,000		Ford Credit Auto Lease Trust			2.220	%	10/15/22	$	7,505
			Series - 2019 B (Class A3)
	17,400,000	g	Ford Credit Auto Owner Trust			2.440		01/15/27		17,442
			Series - 2015 2 (Class A)
	16,500,000	g	Ford Credit Auto Owner Trust			2.030		12/15/27		16,491
			Series - 2016 2 (Class A)
	12,000,000	g	Ford Credit Auto Owner Trust			2.620		08/15/28		12,149
			Series - 2017 1 (Class A)
	27,050,000	g	Ford Credit Auto Owner Trust			2.360		03/15/29		27,169
			Series - 2017 2 (Class A)
	3,500,000		Ford Credit Floorplan Master Owner Trust			2.070		05/15/22		3,498
			Series - 2017 1 (Class A1)
	5,000,000		Ford Credit Floorplan Master Owner Trust			2.390		08/15/22		5,011
			Series - 2015 5 (Class A)
	12,000,000		Ford Credit Floorplan Master Owner Trust			2.230		09/15/24		12,029
			Series - 2019 3 (Class A1)
	6,000,000		Ford Credit Floorplan Master Owner Trust			2.480		09/15/24		6,083
			Series - 2017 3 (Class A)
	750,000	g,i	FREMF Mortgage Trust			4.157		03/25/49		800
			Series - 2016 K53 (Class B)
	6,000,000	g	GM Financial Consumer Automobile Receivables Trust			2.130		03/16/23		6,014
			Series - 2017 3A (Class A4)
	7,800,000		GM Financial Securitized Term			2.180		04/16/24		7,846
			Series - 2019 3 (Class A3)
	7,000,000	g	GMF Floorplan Owner Revolving Trust			2.130		07/15/20		6,997
			Series - 2017 2 (Class A1)
	4,000,000	g	GSCG Trust			2.936		09/06/34		4,079
			Series - 2019 600C (Class A)
	653,003	g	HERO Funding Trust			3.280		09/20/48		659
			Series - 2017 2A (Class A1)
	1,306,006	g	HERO Funding Trust			4.070		09/20/48		1,352
			Series - 2017 2A (Class A2)
	5,250,000	g	Hertz Vehicle Financing II LP			3.710		03/25/23		5,407
			Series - 2019 1A (Class A)
	15,500,000	g	Hertz Vehicle Financing II LP			3.290		02/25/24		15,892
			Series - 2018 1A (Class A)
	5,000,000	g	Hertz Vehicle Financing II LP			3.420		05/25/25		5,163
			Series - 2019 2A (Class A)
	10,000,000	g	Hertz Vehicle Financing LLC			4.030		07/25/24		10,527
			Series - 2018 3A (Class A)
	5,543,978	g	Hilton Grand Vacations Trust			2.660		12/26/28		5,558
			Series - 2017 AA (Class A)
	4,781,681	g	Hilton Grand Vacations Trust			2.960		12/26/28		4,790
			Series - 2017 AA (Class B)
	2,540,705	g	Hilton Grand Vacations Trust			4.000		02/25/32		2,619
			Series - 2018 AA (Class C)
	9,886,309	g	Hilton Grand Vacations Trust			2.340		07/25/33		9,874
			Series - 2019 AA (Class A)
	912,393	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		917
			Series - 2003 1 (Class M1)
	4,200,000	g	Houston Galleria Mall Trust			3.087		03/05/37		4,351
			Series - 2015 HGLR (Class A1A2)

354

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	3,750,000	g	Hyundai Auto Lease Securitization Trust			2.210	%	09/15/21	$	3,751
			Series - 2017 C (Class A4)
	640,697	i	Irwin Home Equity Corp	LIBOR 1 M + 0.760%		2.778		02/25/34		638
			Series - 2005 A (Class A3)
	7,218,543	g	JG Wentworth XXII LLC			3.820		12/15/48		7,471
			Series - 2010 3A (Class A)
	6,700,000		John Deere Owner Trust			2.110		07/15/24		6,707
			Series - 2017 B (Class A4)
	4,807,683	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.320%		2.338		03/25/37		4,712
			Series - 2007 CH3 (Class A1B)
	21,640,224	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%		2.178		06/25/37		21,331
			Series - 2007 CH5 (Class A1)
	4,250,000	g	MMAF Equipment Finance LLC			2.070		10/12/22		4,251
			Series - 2019 B (Class A2)
	1,043,440	i	Morgan Stanley ABS Capital I, Inc Trust	LIBOR 1 M + 0.825%		2.843		08/25/34		1,041
			Series - 2004 HE6 (Class M1)
	2,339,521	g	MVW Owner Trust			2.520		12/20/32		2,338
			Series - 2015 1A (Class A)
	5,790,851	g	MVW Owner Trust			2.420		12/20/34		5,799
			Series - 2017 1A (Class A)
	6,374,759	g	MVW Owner Trust			3.450		01/21/36		6,571
			Series - 2018 1A (Class A)
	5,930,657	g	MVW Owner Trust			2.890		11/20/36		6,038
			Series - 2019 1A (Class A)
	1,452,311	g	MVW Owner Trust			3.330		11/20/36		1,475
			Series - 2019 1A (Class C)
	4,400,000	g	Navient Student Loan Trust			3.390		12/15/59		4,589
			Series - 2019 BA (Class A2A)
	1,705,006	g	Orange Lake Timeshare Trust			3.100		11/08/30		1,732
			Series - 2018 A (Class A)
	14,355,000	g	Planet Fitness Master Issuer LLC			4.262		09/05/48		14,676
			Series - 2018 1A (Class A2I)
	3,855,942	g	Pretium Mortgage Credit Partners I LLC (Step Bond)			3.844		12/25/58		3,872
			Series - 2019 NPL2 (Class A1)
	3,905,758	g	Pretium Mortgage Credit Partners I LLC (Step Bond)			4.213		07/25/60		3,938
			Series - 2019 NPL1 (Class A1)
	4,500,000	g	Progress Residential Trust			2.897		12/17/34		4,531
			Series - 2017 SFR2 (Class A)
	2,809,000	g,h	Progress Residential Trust			2.937		11/17/36		2,846
			Series - 2019 SFR4 (Class B)
	5,074,003	g	PRPM LLC (Step Bond)			3.967		04/25/24		5,125
			Series - 2019 2A (Class A1)
	2,790,000	i	RASC Trust	LIBOR 1 M + 0.590%		3.080		08/25/35		2,795
			Series - 2005 KS8 (Class M4)
	14,365	i	Renaissance Home Equity Loan Trust	LIBOR 1 M + 0.880%		2.898		08/25/33		14
			Series - 2003 2 (Class A)
	2,050,619		Santander Drive Auto Receivables Trust			2.970		07/15/21		2,051
			Series - 2018 5 (Class A2A)
	5,325,000		Santander Drive Auto Receivables Trust			3.190		03/15/22		5,339
			Series - 2018 5 (Class A3)
	6,000,000		Santander Drive Auto Receivables Trust			2.800		08/15/22		6,036
			Series - 2016 3 (Class D)
	6,940,000		Santander Drive Auto Receivables Trust			2.160		11/15/22		6,941
			Series - 2019 3 (Class A3)

355

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,000,000		Santander Drive Auto Receivables Trust		3.170	%	04/17/23	$	8,069
			Series - 2017 1 (Class D)
	4,250,000		Santander Drive Auto Receivables Trust		3.210		09/15/23		4,299
			Series - 2019 1 (Class B)
	6,000,000	g	Santander Retail Auto Lease Trust		2.370		01/20/22		6,010
			Series - 2017 A (Class A4)
	14,700,000	g	Santander Retail Auto Lease Trust		2.300		01/20/23		14,785
			Series - 2019 B (Class A3)
	9,860,191	g	Sierra Receivables Funding Co LLC		2.910		03/20/34		9,949
			Series - 2017 1A (Class A)
	4,545,460	g	Sierra Receivables Funding Co LLC		3.200		03/20/34		4,578
			Series - 2017 1A (Class B)
	1,558,375	g	Sierra Timeshare Receivables Funding LLC		2.400		03/22/32		1,558
			Series - 2015 1A (Class A)
	1,996,921	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		1,996
			Series - 2015 3A (Class A)
	2,408,726	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		2,411
			Series - 2015 3A (Class B)
	1,248,998	g	Sierra Timeshare Receivables Funding LLC		3.080		03/21/33		1,257
			Series - 2016 1A (Class A)
	4,018,731	g	Sierra Timeshare Receivables Funding LLC		2.330		07/20/33		4,009
			Series - 2016 2A (Class A)
	639,925	g	Sierra Timeshare Receivables Funding LLC		2.780		07/20/33		639
			Series - 2016 2A (Class B)
	2,938,395	g	Sierra Timeshare Receivables Funding LLC		2.430		10/20/33		2,933
			Series - 2016 3A (Class A)
	1,741,271	g	Sierra Timeshare Receivables Funding LLC		2.630		10/20/33		1,736
			Series - 2016 3A (Class B)
	4,402,074	g	Sierra Timeshare Receivables Funding LLC		3.500		06/20/35		4,496
			Series - 2018 2A (Class A)
	5,112,441	g	Sierra Timeshare Receivables Funding LLC		4.170		09/20/35		5,209
			Series - 2018 3A (Class C)
	6,409,349	g	Sierra Timeshare Receivables Funding LLC		3.200		01/20/36		6,495
			Series - 2019 1A (Class A)
	7,409,652	g	Sierra Timeshare Receivables Funding LLC		3.770		01/20/36		7,539
			Series - 2019 1A (Class C)
	10,469,709	g	Sierra Timeshare Receivables Funding LLC		2.590		05/20/36		10,519
			Series - 2019 2A (Class A)
	2,423,787	g	SMB Private Education Loan Trust		2.490		06/15/27		2,431
			Series - 2015 A (Class A2A)
	5,328,262	g	SMB Private Education Loan Trust		2.750		07/15/27		5,360
			Series - 2015 C (Class A2A)
	9,069,290	g	SMB Private Education Loan Trust		2.430		02/17/32		9,100
			Series - 2016 B (Class A2A)
	13,247,810	g	SMB Private Education Loan Trust		2.880		09/15/34		13,446
			Series - 2017 A (Class A2A)
	14,781,082	g	SMB Private Education Loan Trust		2.820		10/15/35		14,966
			Series - 2017 B (Class A2A)
	5,000,000	g	SMB Private Education Loan Trust		3.500		02/15/36		5,245
			Series - 2018 A (Class A2A)
	6,113,123	g	Sofi Professional Loan Program LLC		3.120		02/25/48		6,162
			Series - 2018 D (Class A1FX)

356

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	5,500,000	g	Sofi Professional Loan Program LLC			3.690	%	06/15/48	$	5,828
			Series - 2019 A (Class A2FX)
	12,585,945	g	SoFi Professional Loan Program LLC			2.340		04/25/33		12,618
			Series - 2016 D (Class A2B)
	11,889,616	g	SoFi Professional Loan Program LLC			2.490		01/25/36		11,937
			Series - 2016 E (Class A2B)
	1,987,252	g	SoFi Professional Loan Program LLC			2.760		12/26/36		2,000
			Series - 2016 A (Class A2)
	4,736,150	g	SoFi Professional Loan Program LLC			2.400		03/26/40		4,752
			Series - 2017 A (Class A2B)
	12,650,874	g	SoFi Professional Loan Program LLC			2.740		05/25/40		12,785
			Series - 2017 B (Class A2FX)
	4,000,000	g	SoFi Professional Loan Program LLC			2.630		07/25/40		4,024
			Series - 2017 C (Class A2B)
	10,556,000	g	SoFi Professional Loan Program LLC			2.720		11/26/40		10,752
			Series - 2017 E (Class A2B)
	13,500,000	g	SoFi Professional Loan Program LLC			2.840		01/25/41		13,694
			Series - 2017 F (Class A2FX)
	21,000,000	g	SoFi Professional Loan Program LLC			2.950		02/25/42		21,402
			Series - 2018 A (Class A2B)
	339,261	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		2.918		09/25/34		337
			Series - 2004 8 (Class M1)
	992,368	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		3.018		09/25/34		993
			Series - 2004 8 (Class A9)
	9,000,000		Synchrony Credit Card Master Note Trust			2.620		10/15/25		9,164
			Series - 2017 2 (Class A)
	16,971,750	g	Taco Bell Funding LLC			4.318		11/25/48		17,579
			Series - 2018 1A (Class A2I)
	5,424,750	g	TLF National Tax Lien Trust			3.090		12/15/29		5,425
			Series - 2017 1A (Class A)
	11,675,000		Toyota Auto Receivables Owner Trust			1.910		09/15/23		11,673
			Series - 2019 C (Class A3)
	3,940,091	g	Tricon American Homes Trust			2.928		01/17/36		3,996
			Series - 2017 SFR2 (Class A)
	12,548,000		UBS Commercial Mortgage Trust			3.256		06/15/50		13,045
			Series - 2017 C1 (Class ASB)
	2,000,000		UBS Commercial Mortgage Trust			3.366		10/15/50		2,100
			Series - 2017 C4 (Class ASB)
	15,122,957	g	Verizon Owner Trust			1.920		12/20/21		15,109
			Series - 2017 2A (Class A)
	49,400,000		Verizon Owner Trust			3.230		04/20/23		50,359
			Series - 2018 A (Class A1A)
	4,784,939	g	VOLT LXII LLC (Step Bond)			3.125		09/25/47		4,788
			Series - 2017 NPL9 (Class A1)
	898,473	g	VOLT LXV LLC (Step Bond)			3.750		04/25/48		900
			Series - 2018 NPL1 (Class A1)
	5,707,721	g	VOLT LXXIII LLC (Step Bond)			4.458		10/25/48		5,736
			Series - 2018 NPL9 (Class A1A)
	5,150,659	g	VOLT LXXV LLC (Step Bond)			4.336		01/25/49		5,186
			Series - 2019 NPL1 (Class A1A)
	6,843,139	g	VOLT LXXV LLC (Step Bond)			3.967		02/25/49		6,866
			Series - 2019 NPL2 (Class A1)
	5,353,799	g	VOLT LXXV LLC (Step Bond)			3.967		03/25/49		5,384
			Series - 2019 NPL3 (Class A1)

357

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	12,328	g,i	Wachovia Loan Trust	LIBOR 1 M + 0.360%		2.378	%	05/25/35	$	12
			Series - 2005 SD1 (Class A)
	31,931,250	g	Wendys Funding LLC			3.573		03/15/48		32,437
			Series - 2018 1A (Class A2I)
	3,000,000		World Financial Network Credit Card Master Trust			2.030		04/15/25		2,995
			Series - 2016 A (Class A)
	9,000,000		World Omni Auto Receivables Trust			2.250		10/16/23		9,037
			Series - 2017 B (Class A4)
			TOTAL ASSET BACKED							1,122,618
OTHER MORTGAGE BACKED - 9.6%
	25,000,000	g,i	20 TSQ GROUNDCO LLC			3.203		05/15/35		24,779
			Series - 2018 20TS (Class E)
	2,960,325	g,i	Agate Bay Mortgage Trust			3.500		11/25/44		2,976
			Series - 2014 3 (Class A13)
	8,612,738	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		8,584
			Series - 2015 6 (Class A9)
	1,015,895	i	Alternative Loan Trust	LIBOR 1 M + 0.500%		2.518		06/25/34		1,031
			Series - 2004 8CB (Class M1)
	3,850,000	g	BBCMS Mortgage Trust			3.821		09/05/32		3,874
			Series - 2013 TYSN (Class C)
	5,000,000		BBCMS Mortgage Trust			3.488		02/15/50		5,293
			Series - 2017 C1 (Class ASB)
	1,500,000	g,i	BBCMS Trust			4.409		08/05/38		1,398
			Series - 2018 CHRS (Class E)
	2,000,000		BENCHMARK Mortgage Trust			3.419		08/15/52		2,119
			Series - 2019 B12 (Class AS)
	2,500,000	g	BWAY Mortgage Trust			3.342		01/10/35		2,567
			Series - 2015 1740 (Class C)
	7,698,000	i	CCUBS Commercial Mortgage Trust			3.462		11/15/50		8,186
			Series - 2017 C1 (Class ASB)
	1,720,000	i	CD Commercial Mortgage Trust			3.684		08/15/50		1,845
			Series - 2017 CD5 (Class AS)
	5,167,000		CD Mortgage Trust			2.622		08/10/49		5,268
			Series - 2016 CD1 (Class ASB)
	9,000,000		CD Mortgage Trust			2.926		08/10/49		9,201
			Series - 2016 CD1 (Class AM)
	5,750,000	i	CD Mortgage Trust			3.879		11/10/49		6,141
			Series - 2016 CD2 (Class B)
	1,000,000	i	CD Mortgage Trust			4.163		11/10/49		1,053
			Series - 2016 CD2 (Class C)
	1,000,000		CD Mortgage Trust			3.453		02/10/50		1,052
			Series - 2017 CD3 (Class AAB)
	5,000,000		CD Mortgage Trust			3.220		08/15/50		5,240
			Series - 2017 CD5 (Class AAB)
	3,457,000		CD Mortgage Trust			2.812		08/15/57		3,580
			Series - 2019 CD8 (Class ASB)
	5,000,000		CD Mortgage Trust			2.912		08/15/57		5,164
			Series - 2019 CD8 (Class A4)
	1,000,000	g,i	CFCRE Commercial Mortgage Trust			6.272		04/15/44		1,046
			Series - 2011 C1 (Class C)

358

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	954,531		CFCRE Commercial Mortgage Trust		3.121	%	05/10/58	$	989
			Series - 2016 C4 (Class AHR)
	2,100,000	g	CGBAM Commercial Mortgage Trust		3.768		04/10/28		2,109
			Series - 2015 SMRT (Class D)
	5,300,000		CGMS Commercial Mortgage Trust		3.243		08/15/50		5,551
			Series - 2017 B1 (Class AAB)
	2,239,092	i	CHL Mortgage Pass-Through Trust		4.244		02/20/35		2,262
			Series - 2004 HYB9 (Class 1A1)
	5,000,000	g	Citigroup Commercial Mortgage Trust		3.341		05/10/36		5,217
			Series - 2019 PRM (Class A)
	2,400,000		Citigroup Commercial Mortgage Trust		4.023		03/10/47		2,572
			Series - 2014 GC19 (Class A4)
	4,092,000		Citigroup Commercial Mortgage Trust		3.371		10/10/47		4,197
			Series - 2014 GC25 (Class AAB)
	1,700,000	i	Citigroup Commercial Mortgage Trust		3.758		04/10/48		1,775
			Series - 2015 GC29 (Class B)
	3,000,000	i	Citigroup Commercial Mortgage Trust		4.280		04/10/48		3,168
			Series - 2015 GC29 (Class C)
	1,712,595		Citigroup Commercial Mortgage Trust		1.506		05/10/49		1,704
			Series - 2016 C1 (Class A1)
	6,765,000		Citigroup Commercial Mortgage Trust		3.764		10/12/50		7,320
			Series - 2017 C4 (Class AS)
	562,879	i	COBALT CMBS Commercial Mortgage Trust		5.646		04/15/47		567
			Series - 2007 C2 (Class C)
	5,000,000	g	COMM Mortgage Trust		3.244		10/10/29		5,209
			Series - 2017 PANW (Class A)
	3,727,236		COMM Mortgage Trust		2.853		10/15/45		3,773
			Series - 2012 CR4 (Class A3)
	4,000,000	g	COMM Mortgage Trust		3.397		03/10/46		4,111
			Series - 2013 CR6 (Class B)
	3,359,721	g,i	COMM Mortgage Trust		4.092		06/10/46		3,518
			Series - 2013 CR8 (Class B)
	4,325,000	g,i	COMM Mortgage Trust		4.949		08/10/46		4,669
			Series - 2013 CR10 (Class B)
	4,780,000	g,i	COMM Mortgage Trust		4.949		08/10/46		5,097
			Series - 2013 CR10 (Class C)
	3,000,000		COMM Mortgage Trust		4.199		03/10/47		3,190
			Series - 2014 UBS2 (Class AM)
	750,000		COMM Mortgage Trust		4.174		05/10/47		804
			Series - 2014 CR17 (Class AM)
	1,843,000	i	COMM Mortgage Trust		4.887		07/15/47		1,964
			Series - 2014 CR18 (Class C)
	1,500,000	i	COMM Mortgage Trust		4.906		08/10/47		1,603
			Series - 2014 CR19 (Class C)
	14,331,817		COMM Mortgage Trust		3.917		10/10/47		15,452
			Series - 2014 LC17 (Class A5)
	1,185,000	i	COMM Mortgage Trust		4.490		10/10/47		1,273
			Series - 2014 LC17 (Class B)
	800,979	i	COMM Mortgage Trust		3.829		02/10/48		842
			Series - 2015 LC19 (Class B)
	3,382,775	i	COMM Mortgage Trust		3.603		03/10/48		3,570
			Series - 2015 CR22 (Class AM)
	1,500,000	i	COMM Mortgage Trust		3.926		03/10/48		1,588
			Series - 2015 CR22 (Class B)

359

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	1,805,000	i	COMM Mortgage Trust			4.254	%	03/10/48	$	1,918
			Series - 2015 CR22 (Class C)
	11,650,000		COMM Mortgage Trust			3.801		05/10/48		12,407
			Series - 2015 CR23 (Class AM)
	5,500,000	g,i	COMM Mortgage Trust			3.807		05/10/48		5,529
			Series - 2015 CR23 (Class CMB)
	4,000,000	i	COMM Mortgage Trust			4.183		05/10/48		4,302
			Series - 2015 CR23 (Class B)
	2,530,000	i	COMM Mortgage Trust			4.392		05/10/48		2,696
			Series - 2015 CR23 (Class C)
	4,900,000		COMM Mortgage Trust			3.421		07/10/48		5,087
			Series - 2015 LC21 (Class ASB)
	1,500,000	i	COMM Mortgage Trust			3.463		08/10/48		1,407
			Series - 2015 CR24 (Class D)
	2,000,000		COMM Mortgage Trust			3.696		08/10/48		2,149
			Series - 2015 CR24 (Class A5)
	2,000,000	i	COMM Mortgage Trust			4.028		08/10/48		2,168
			Series - 2015 CR24 (Class AM)
	3,685,000	i	COMM Mortgage Trust			4.524		08/10/48		4,023
			Series - 2015 CR24 (Class B)
	1,000,000	i	COMM Mortgage Trust			4.524		08/10/48		1,069
			Series - 2015 CR24 (Class C)
	1,352,000		COMM Mortgage Trust			3.612		10/10/48		1,447
			Series - 2015 CR27 (Class A4)
	2,472,210		COMM Mortgage Trust			3.630		10/10/48		2,647
			Series - 2015 CR26 (Class A4)
	8,212,000	i	COMM Mortgage Trust			4.509		10/10/48		8,959
			Series - 2015 CR27 (Class B)
	1,069,074		COMM Mortgage Trust			3.651		02/10/49		1,124
			Series - 2016 CR28 (Class AHR)
	4,650,000	i	COMM Mortgage Trust			4.801		02/10/49		5,135
			Series - 2016 CR28 (Class B)
	1,000,000		COMM Mortgage Trust			3.961		05/10/51		1,111
			Series - 2018 COR3 (Class A2)
	25,898,017	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		4.618		05/25/24		27,003
			Series - 2014 C02 (Class 1M2)
	15,680,753	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		5.018		07/25/24		16,464
			Series - 2014 C03 (Class 1M2)
	2,640,778	i	Connecticut Avenue Securities	LIBOR 1 M + 5.000%		7.018		11/25/24		2,823
			Series - 2014 C04 (Class 2M2)
	1,934,196	i	Connecticut Avenue Securities	LIBOR 1 M + 1.450%		3.468		01/25/29		1,937
			Series - 2016 C04 (Class 1M1)
	5,734,919	i	Connecticut Avenue Securities	LIBOR 1 M + 1.300%		3.318		04/25/29		5,749
			Series - 2016 C06 (Class 1M1)
	3,000,000	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%		6.268		04/25/29		3,207
			Series - 2016 C06 (Class 1M2)
	3,670,094	i	Connecticut Avenue Securities	LIBOR 1 M + 1.300%		2.165		07/25/29		3,678
			Series - 2017 C01 (Class 1M1)
	4,737,208	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		2.868		11/25/29		4,740
			Series - 2017 C04 (Class 2M1)
	9,035,815	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		4.218		01/25/30		9,136
			Series - 2017 C05 (Class 1M2A)

360

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	18,107,148	i	Connecticut Avenue Securities	LIBOR 1 M + 0.600%		2.618	%	07/25/30	$	18,100
			Series - 2018 C01 (Class 1M1)
	4,634,095	i	Connecticut Avenue Securities	LIBOR 1 M + 0.680%		2.698		10/25/30		4,635
			Series - 2018 C03 (Class 1M1)
	10,670,000	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		2.868		10/25/30		10,691
			Series - 2018 C03 (Class 1EA2)
	884,482	i	Connecticut Avenue Securities	LIBOR 1 M + 0.720%		2.738		01/25/31		885
			Series - 2018 C05 (Class 1M1)
	6,881,147	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		2.868		07/25/31		6,887
			Series - 2019 R01 (Class 2M1)
	1,005,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.450%		4.468		07/25/31		1,014
			Series - 2019 R01 (Class 2M2)
	3,026,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.150%		4.168		09/25/31		3,040
			Series - 2019 R03 (Class 1M2)
	9,225,186	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%		2.768		06/25/39		9,234
			Series - 2019 R04 (Class 2M1)
	4,689,000	g,i	Credit Suisse Commercial Mortgage Trust			5.897		01/15/49		5,805
			Series - 2007 C2 (Class C)
	1,360,000	g	Credit Suisse First Boston Mortgage Securities Corp			5.538		05/15/23		1,368
			Series - 2006 OMA (Class B2)
	7,000,000	g	Credit Suisse Mortgage Capital Certificates			5.626		05/15/23		7,044
			Series - 2006 OMA (Class D)
	4,171,000		CSAIL Commercial Mortgage Trust			3.314		11/15/49		4,331
			Series - 2016 C7 (Class ASB)
	7,400,000	g,i	CSMC Trust			3.854		11/10/32		7,848
			Series - 2017 CALI (Class B)
	13,851,480	g	CSMC Trust			3.639		11/15/34		14,515
			Series - 2015 GLPB (Class A)
	2,773,000	g,i	CSMC Trust	LIBOR 1 M + 0.650%		2.668		05/25/36		2,765
			Series - 2006 CF2 (Class M3)
	16,209,625	g,i	CSMC Trust			3.500		02/25/48		16,253
			Series - 2018 J1 (Class A11)
	11,000,000		DBJPM Mortgage Trust			2.756		08/10/49		11,228
			Series - 2016 C3 (Class ASB)
	10,000,000		DBJPM Mortgage Trust			3.121		06/10/50		10,402
			Series - 2017 C6 (Class ASB)
	17,410,000	g	DBUBS Mortgage Trust			3.452		10/10/34		18,292
			Series - 2017 BRBK (Class A)
	15,500,000	g,i	DBUBS Mortgage Trust			3.648		10/10/34		16,277
			Series - 2017 BRBK (Class B)
	3,223,858	g	DBUBS Mortgage Trust			4.452		05/10/44		3,304
			Series - 2011 LC3A (Class PM1)
	23,978,511	g	DBUBS Mortgage Trust			4.537		07/10/44		24,629
			Series - 2011 LC2A (Class A4)
	3,100,000	g,i	DBUBS Mortgage Trust			4.998		07/10/44		3,219
			Series - 2011 LC2A (Class B)
	5,000,000	g,i	DBUBS Mortgage Trust			5.714		07/10/44		5,232
			Series - 2011 LC2A (Class C)
	5,500,000	g,i	DBUBS Mortgage Trust			5.512		08/10/44		5,774
			Series - 2011 LC3A (Class AM)
	2,084,000	g,i	DBUBS Mortgage Trust			5.512		08/10/44		2,185
			Series - 2011 LC3A (Class B)
	5,625,000	g,i	DBUBS Mortgage Trust			5.885		11/10/46		5,818
			Series - 2011 LC1A (Class C)

361

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	2,972,868	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		2.753	%	12/25/35	$	2,962
			Series - 2005 2 (Class M2)
	2,882,214	g,i	FirstKey Mortgage Trust			3.500		11/25/44		2,906
			Series - 2014 1 (Class A8)
	6,961,388	g,i	Flagstar Mortgage Trust			3.500		03/25/47		7,083
			Series - 2017 1 (Class 1A5)
	3,044,697	g,i	Flagstar Mortgage Trust			4.000		09/25/48		3,066
			Series - 2018 5 (Class A11)
	2,861,064	i	GMAC Commercial Mortgage Securities, Inc			4.984		12/10/41		2,860
			Series - 2004 C3 (Class C)
	10,000,000	g	GRACE Mortgage Trust			3.369		06/10/28		10,153
			Series - 2014 GRCE (Class A)
	8,970,000	g	GRACE Mortgage Trust			3.520		06/10/28		9,074
			Series - 2014 GRCE (Class B)
	1,792,262	i	Greenwich Capital Commercial Funding Corp			5.825		07/10/38		1,802
			Series - 2006 GG7 (Class AM)
	5,943,000	g	GS Mortgage Securities Corp II			3.551		04/10/34		6,114
			Series - 2012 ALOH (Class A)
	4,430,000	g	GS Mortgage Securities Corp II			2.954		11/05/34		4,537
			Series - 2012 BWTR (Class A)
	4,500,000	g	GS Mortgage Securities Corp II			3.682		02/10/46		4,647
			Series - 2013 GC10 (Class B)
	3,000,000	i	GS Mortgage Securities Corp II			4.192		05/10/50		3,140
			Series - 2015 GC30 (Class C)
	5,910,000	g,i	GS Mortgage Securities Trust			5.353		12/10/43		6,088
			Series - 2010 C2 (Class B)
	2,250,000		GS Mortgage Securities Trust			2.635		05/10/49		2,258
			Series - 2016 GS2 (Class A2)
	1,000,000		GS Mortgage Securities Trust			3.143		10/10/49		1,030
			Series - 2016 GS3 (Class AS)
	12,000,000		GS Mortgage Securities Trust			3.230		05/10/50		12,575
			Series - 2017 GS6 (Class AAB)
	3,000,000		GS Mortgage Securities Trust			3.837		11/10/50		3,287
			Series - 2017 GS8 (Class ABP)
	4,000,000	g,i	GS Mortgage Securities Trust			3.668		07/10/52		4,179
			Series - 2019 GC40 (Class DBC)
	3,821,272	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		2.677		08/19/45		3,809
			Series - 2005 11 (Class 2A1A)
	6,000,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		6,176
			Series - 2016 10HY (Class A)
	2,500,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		2,572
			Series - 2016 10HY (Class B)
	7,250,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		7,378
			Series - 2016 10HY (Class C)
	591,262	i	Impac CMB Trust	LIBOR 1 M + 0.660%		2.678		03/25/35		592
			Series - 2004 11 (Class 2A1)
	22,518,060	g	JP Morgan Chase Commercial Mortgage Securities Trust			4.717		02/15/46		23,079
			Series - 2011 C3 (Class A4)
	10,975,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust			5.360		02/15/46		11,124
			Series - 2011 C3 (Class C)

362

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	16,813,036	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.388	%	07/15/46	$	17,237
			Series - 2011 C4 (Class A4)
	15,000,000	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.801		07/15/46		15,527
			Series - 2011 C4 (Class B)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.582		07/15/46		6,740
			Series - 2011 C4 (Class C)
	2,430,000		JP Morgan Chase Commercial Mortgage Securities Trust		3.914		01/15/49		2,654
			Series - 2015 JP1 (Class A5)
	750,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.119		01/15/49		813
			Series - 2015 JP1 (Class AS)
	7,000,000		JP Morgan Chase Commercial Mortgage Securities Trust		2.713		08/15/49		7,125
			Series - 2016 JP2 (Class ASB)
	4,500,000		JP Morgan Chase Commercial Mortgage Securities Trust		3.379		09/15/50		4,729
			Series - 2017 JP7 (Class A3)
	4,862,613	g,i	JP Morgan Mortgage Trust		3.589		12/25/44		4,843
			Series - 2015 1 (Class B1)
	1,400,817	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		1,398
			Series - 2015 3 (Class A19)
	9,661,178	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		9,661
			Series - 2015 6 (Class A13)
	1,001,258	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		1,008
			Series - 2016 1 (Class A5)
	2,852,097	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		2,844
			Series - 2016 1 (Class A13)
	520,552	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		528
			Series - 2017 1 (Class A3)
	10,645,512	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		10,785
			Series - 2017 2 (Class A5)
	6,394,275	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		6,400
			Series - 2017 2 (Class A13)
	976,922	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		988
			Series - 2017 3 (Class 1A5)
	1,983,466	g,i	JP Morgan Mortgage Trust		3.500		09/25/48		2,082
			Series - 2018 3 (Class A13)
	3,171,432	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		3,211
			Series - 2018 4 (Class A5)
	668,814	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		702
			Series - 2018 4 (Class A13)
	2,601,434	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		2,731
			Series - 2018 5 (Class A13)
	1,118,135	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		1,123
			Series - 2018 8 (Class A5)
	3,606,399	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		3,677
			Series - 2018 8 (Class A13)
	10,094,445	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		10,221
			Series - 2018 9 (Class A13)

363

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	9,865,363	g,i	JP Morgan Mortgage Trust		4.000	%	05/25/49	$	10,060
			Series - 2019 1 (Class A15)
	4,500,000		JPMBB Commercial Mortgage Securities Trust		3.775		08/15/47		4,806
			Series - 2014 C21 (Class A5)
	5,000,000		JPMBB Commercial Mortgage Securities Trust		3.997		08/15/47		5,307
			Series - 2014 C21 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.612		09/15/47		2,164
			Series - 2014 C23 (Class B)
	2,000,000		JPMBB Commercial Mortgage Securities Trust		3.898		02/15/48		2,096
			Series - 2015 C27 (Class B)
	2,345,000		JPMBB Commercial Mortgage Securities Trust		3.611		05/15/48		2,507
			Series - 2015 C29 (Class A4)
	2,500,000	i	JPMBB Commercial Mortgage Securities Trust		3.917		05/15/48		2,668
			Series - 2015 C29 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.118		05/15/48		2,125
			Series - 2015 C29 (Class B)
	2,000,000		JPMBB Commercial Mortgage Securities Trust		3.801		08/15/48		2,166
			Series - 2015 C31 (Class A3)
	2,500,000		JPMBB Commercial Mortgage Securities Trust		4.106		08/15/48		2,698
			Series - 2015 C31 (Class AS)
	2,595,000	i	JPMBB Commercial Mortgage Securities Trust		4.771		08/15/48		2,848
			Series - 2015 C31 (Class B)
	3,253,000	i	JPMBB Commercial Mortgage Securities Trust		4.771		08/15/48		3,466
			Series - 2015 C31 (Class C)
	3,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.360		10/15/48		3,112
			Series - 2015 C28 (Class C)
	2,000,000	i	JPMCC Commercial Mortgage Securities Trust		3.876		03/15/50		2,163
			Series - 2017 JP5 (Class AS)
	3,400,000	g	Ladder Capital Commercial Mortgage Securities		3.575		02/15/36		3,577
			Series - 2013 GCP (Class A1)
	15,000,000	g	Ladder Capital Commercial Mortgage Securities		3.357		07/12/50		15,680
			Series - 2017 LC26 (Class ASB)
	7,250,000	g	Liberty Street Trust		3.597		02/10/36		7,783
			Series - 2016 225L (Class A)
	2,795,000	i	Morgan Stanley ABS Capital I, Inc Trust		3.779		05/15/48		3,007
			Series - 2015 MS1 (Class A4)
	2,165,349		Morgan Stanley Bank of America Merrill Lynch Trust		2.469		02/15/46		2,178
			Series - 2013 C7 (Class AAB)
	2,000,000	i	Morgan Stanley Bank of America Merrill Lynch Trust		4.919		11/15/46		2,168
			Series - 2013 C13 (Class B)
	2,923,523	g	Morgan Stanley Bank of America Merrill Lynch Trust		3.989		12/15/46		3,103
			Series - 2014 C19 (Class LNC1)
	2,408,174	g	Morgan Stanley Bank of America Merrill Lynch Trust		4.384		12/15/46		2,580
			Series - 2014 C19 (Class LNC2)
	1,483,112		Morgan Stanley Bank of America Merrill Lynch Trust		3.669		02/15/47		1,507
			Series - 2014 C14 (Class A3)
	237,277		Morgan Stanley Bank of America Merrill Lynch Trust		3.194		10/15/47		237
			Series - 2014 C18 (Class A2)

364

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	2,650,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.832	%	12/15/47	$	2,826
			Series - 2014 C19 (Class AS)
	1,600,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.605		02/15/48		1,686
			Series - 2015 C20 (Class AS)
	2,500,000	i	Morgan Stanley Bank of America Merrill Lynch Trust			4.613		02/15/48		2,652
			Series - 2015 C20 (Class C)
	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.338		03/15/48		2,625
			Series - 2015 C21 (Class A4)
	5,500,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.652		03/15/48		5,801
			Series - 2015 C21 (Class AS)
	3,250,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.306		04/15/48		3,418
			Series - 2015 C22 (Class A4)
	3,000,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.561		04/15/48		3,140
			Series - 2015 C22 (Class AS)
	9,695,000	g,i	Morgan Stanley Capital I Trust			3.516		07/13/29		9,844
			Series - 2014 CPT (Class AM)
	2,000,000	g,i	Morgan Stanley Capital I Trust			3.560		07/13/29		2,020
			Series - 2014 CPT (Class E)
	4,500,000	g	Morgan Stanley Capital I Trust			2.695		01/11/32		4,495
			Series - 2013 WLSR (Class A)
	7,548,000	g	Morgan Stanley Capital I Trust			4.193		09/15/47		7,697
			Series - 2011 C1 (Class F)
	3,450,000	g,i	Morgan Stanley Capital I Trust			5.554		09/15/47		3,575
			Series - 2011 C1 (Class D)
	779,385	†,i	Morgan Stanley Capital I Trust			6.459		12/12/49		483
			Series - 2007 IQ16 (Class AJ)
	531,641	†,i	Morgan Stanley Capital I Trust			6.459		12/12/49		330
			Series - 2007 IQ16 (Class AJFX)
	6,000,000		Morgan Stanley Capital I Trust			3.304		06/15/50		6,258
			Series - 2017 H1 (Class ASB)
	2,250,000		Morgan Stanley Capital I Trust			4.177		07/15/51		2,543
			Series - 2018 H3 (Class A5)
	9,000,000	g,i	MSDB Trust			3.427		07/11/39		9,467
			Series - 2017 712F (Class A)
	5,400,000	g,i	Natixis Commercial Mortgage Securities Trust			3.917		11/15/32		5,566
			Series - 2018 285M (Class C)
	55,488	g,i	New Residential Mortgage Loan Trust			3.750		05/28/52		57
			Series - 2015 1A (Class A3)
	142,703	g,i	New Residential Mortgage Loan Trust			4.000		08/27/57		149
			Series - 2017 6A (Class A1)
	1,039,267	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		2.498		02/25/36		1,042
			Series - 2005 3 (Class A1)
	949,895	g	Prima Capital CRE Securitization Ltd			2.550		08/24/49		947
			Series - 2015 4A (Class MR-A)
	2,000,000	g	RBS Commercial Funding, Inc Trust			3.511		03/11/31		2,023
			Series - 2013 SMV (Class B)

365

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	3,313,403	g,i	Sequoia Mortgage Trust			3.500	%	05/25/45	$	3,373
			Series - 2015 2 (Class A1)
	2,971,381	g,i	Sequoia Mortgage Trust			3.500		06/25/46		3,006
			Series - 2016 1 (Class A19)
	1,719,152	g,i	Sequoia Mortgage Trust			3.500		11/25/46		1,750
			Series - 2016 3 (Class A10)
	5,740,021	g,i	Sequoia Mortgage Trust			3.500		02/25/47		5,847
			Series - 2017 2 (Class A4)
	704,460	g,i	Sequoia Mortgage Trust			3.500		02/25/47		703
			Series - 2017 2 (Class A19)
	9,134,139	g,i	Sequoia Mortgage Trust			3.500		04/25/47		9,282
			Series - 2017 3 (Class A4)
	3,665,426	g,i	Sequoia Mortgage Trust			3.500		08/25/47		3,734
			Series - 2017 5 (Class A4)
	1,194,147	g,i	Sequoia Mortgage Trust			3.500		09/25/47		1,214
			Series - 2017 6 (Class A4)
	2,356,294	g,i	Sequoia Mortgage Trust			3.761		09/25/47		2,455
			Series - 2017 6 (Class B1)
	2,279,873	g,i	Sequoia Mortgage Trust			3.500		02/25/48		2,316
			Series - 2018 2 (Class A1)
	9,743,201	g,i	Sequoia Mortgage Trust			3.500		03/25/48		9,820
			Series - 2018 3 (Class A1)
	3,345,318	g,i	Sequoia Mortgage Trust			4.000		09/25/48		3,378
			Series - 2018 7 (Class A4)
	1,863,155	g,i	Sequoia Mortgage Trust			4.000		09/25/48		1,888
			Series - 2018 7 (Class A19)
	1,360,523	g,i	Sequoia Mortgage Trust			4.000		11/25/48		1,379
			Series - 2018 8 (Class A19)
	11,399,248	g,i	Sequoia Mortgage Trust			4.000		06/25/49		11,665
			Series - 2019 2 (Class A1)
	2,767,858	g,i	Sequoia Mortgage Trust			4.000		06/25/49		2,824
			Series - 2019 2 (Class A19)
	5,036,176	g,i	Sequoia Mortgage Trust			3.500		09/25/49		5,096
			Series - 2019 3 (Class A2)
	2,216,970	g,i	Shellpoint Co-Originator Trust			3.500		11/25/46		2,235
			Series - 2016 1 (Class 1A10)
	3,723,781	g,i	Spruce Hill Mortgage Loan Trust			3.395		04/29/49		3,747
			Series - 2019 SH1 (Class A1)
	1,983,784	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 2.200%		4.218		09/25/24		2,010
			Series - 2014 HQ2 (Class M2)
	8,282,098		STACR			3.968		05/25/25		8,351
			Series - 2015 HQ2 (Class M2)
	6,400,000		STACR			6.668		10/25/28		6,858
			Series - 2016 DNA2 (Class M3)
	1,715,465		STACR			3.318		03/25/29		1,720
			Series - 2016 DNA4 (Class M2)
	1,075,045		STACR			3.218		07/25/29		1,077
			Series - 2017 DNA1 (Class M1)
	13,120,000		STACR			5.268		07/25/29		13,755
			Series - 2017 DNA1 (Class M2)
	9,314,036		STACR			3.218		10/25/29		9,344
			Series - 2017 DNA2 (Class M1)

366

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	20,450,809		STACR		2.768	%	03/25/30	$	20,453
			Series - 2017 DNA3 (Class M1)
	17,518,789		STACR		2.968		04/25/30		17,537
			Series - 2017 HQA3 (Class M2AS)
	2,177,080		STACR		3.740		02/25/48		2,191
			Series - 2018 SPI1 (Class M1)
	3,857,430		STACR		3.817		05/25/48		3,867
			Series - 2018 SPI2 (Class M1)
	5,550,662		STACR		4.160		08/25/48		5,592
			Series - 2018 SPI3 (Class M1)
	1,720,000		STACR		4.459		11/25/48		1,733
			Series - 2018 SPI4 (Class M2)
	4,000,000		UBS-Barclays Commercial Mortgage Trust		2.850		12/10/45		4,078
			Series - 2012 C4 (Class A5)
	1,500,000	g,i	UBS-Barclays Commercial Mortgage Trust		3.649		03/10/46		1,539
			Series - 2013 C5 (Class B)
	4,585,000	g	VNDO Mortgage Trust		3.808		12/13/29		4,647
			Series - 2013 PENN (Class A)
	1,100,000	g,i	VNDO Mortgage Trust		4.079		12/13/29		1,112
			Series - 2013 PENN (Class C)
	1,984,198	g	VSE VOI Mortgage LLC		2.540		07/20/33		1,981
			Series - 2016 A (Class A)
	1,521,603	g	VSE VOI Mortgage LLC		2.740		07/20/33		1,515
			Series - 2016 A (Class B)
	5,620,900	g	VSE VOI Mortgage LLC		2.330		03/20/35		5,614
			Series - 2017 A (Class A)
	1,234,888	i	Wachovia Bank Commercial Mortgage Trust		6.286		05/15/46		1,245
			Series - 2007 C34 (Class AJ)
	3,328,000	i	Wachovia Bank Commercial Mortgage Trust		6.361		05/15/46		3,360
			Series - 2007 C34 (Class B)
	2,595,000	i	Wachovia Bank Commercial Mortgage Trust		6.361		05/15/46		2,628
			Series - 2007 C34 (Class C)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.539		10/15/45		10,342
			Series - 2012 LC5 (Class AS)
	1,350,000		Wells Fargo Commercial Mortgage Trust		3.405		12/15/47		1,423
			Series - 2014 LC18 (Class A5)
	990,000		Wells Fargo Commercial Mortgage Trust		3.406		05/15/48		1,038
			Series - 2015 NXS1 (Class AS)
	4,200,000		Wells Fargo Commercial Mortgage Trust		3.540		05/15/48		4,471
			Series - 2015 C28 (Class A4)
	10,000,000		Wells Fargo Commercial Mortgage Trust		2.788		07/15/48		10,241
			Series - 2016 C35 (Class ASB)
	460,819		Wells Fargo Commercial Mortgage Trust		1.321		08/15/49		457
			Series - 2016 BNK1 (Class A1)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		15,194
			Series - 2016 BNK1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		15,373
			Series - 2016 LC24 (Class ASB)
	11,202,000		Wells Fargo Commercial Mortgage Trust		2.749		03/15/50		11,326
			Series - 2017 RB1 (Class A2)
	7,500,000		Wells Fargo Commercial Mortgage Trust		3.446		03/15/50		7,921
			Series - 2017 RB1 (Class ASB)
	872,111		Wells Fargo Commercial Mortgage Trust		3.635		03/15/50		945
			Series - 2017 RB1 (Class A5)

367

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,325,000		Wells Fargo Commercial Mortgage Trust		3.184	%	04/15/50	$	3,476
			Series - 2015 LC20 (Class A5)
	15,000,000		Wells Fargo Commercial Mortgage Trust		3.261		07/15/50		15,692
			Series - 2017 C38 (Class ASB)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.212		09/15/50		10,454
			Series - 2017 C39 (Class ASB)
	10,550,000	i	Wells Fargo Commercial Mortgage Trust		3.767		07/15/58		11,372
			Series - 2015 NXS2 (Class A5)
	1,000,000	i	Wells Fargo Commercial Mortgage Trust		4.387		07/15/58		1,080
			Series - 2015 NXS2 (Class B)
	6,000,000		Wells Fargo Commercial Mortgage Trust		3.749		03/15/59		6,398
			Series - 2016 C33 (Class AS)
	650,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		669
			Series - 2016 C36 (Class ASB)
	4,725,000	g,i	Wells Fargo Mortgage Backed Securities Trust		5.276		11/15/43		4,838
			Series - 2010 C1 (Class B)
	7,208,614	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		7,341
			Series - 2019 2 (Class A17)
	2,030,000	g,i	WFRBS Commercial Mortgage Trust		5.392		02/15/44		2,086
			Series - 2011 C2 (Class C)
	30,000,000	g,i	WFRBS Commercial Mortgage Trust		4.902		06/15/44		30,991
			Series - 2011 C4 (Class A4)
	4,411,000	i	WFRBS Commercial Mortgage Trust		3.714		03/15/45		4,578
			Series - 2013 C11 (Class B)
	750,000		WFRBS Commercial Mortgage Trust		3.345		05/15/45		776
			Series - 2013 C13 (Class AS)
	4,000,000	i	WFRBS Commercial Mortgage Trust		4.079		03/15/46		4,274
			Series - 2013 UBS1 (Class A4)
	1,050,000	i	WFRBS Commercial Mortgage Trust		4.162		12/15/46		1,130
			Series - 2013 C18 (Class A5)
	2,185,281		WFRBS Commercial Mortgage Trust		3.995		05/15/47		2,347
			Series - 2014 C20 (Class A5)
	1,240,000		WFRBS Commercial Mortgage Trust		3.607		11/15/47		1,316
			Series - 2014 C24 (Class A5)
			TOTAL OTHER MORTGAGE BACKED						1,366,817
			TOTAL STRUCTURED ASSETS						2,489,435
			(Cost $2,458,128)
			TOTAL BONDS						13,813,388
			(Cost $13,268,732)
SHARES			COMPANY
COMMON STOCKS - 0.0%
TELECOMMUNICATION SERVICES - 0.0%
	147,623		Oi S.A. (ADR)						163
			TOTAL TELECOMMUNICATION SERVICES						163
			TOTAL COMMON STOCKS						163
			(Cost $1,332)

368

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
PREFERRED STOCKS - 0.2%
BANKS - 0.2%
$	470,597	*	Federal Home Loan Mortgage Corp					$	6,160
	1,527,061	*	Federal National Mortgage Association						20,386
			TOTAL BANKS						26,546
			TOTAL PREFERRED STOCKS						26,546
			(Cost $49,941)
SHORT-TERM INVESTMENTS - 2.1%
GOVERNMENT AGENCY DEBT - 1.1%
	34,940,000		Federal Home Loan Bank (FHLB)		1.500-1.580	%	10/01/19		34,940
	2,730,000		FHLB		1.900		10/03/19		2,730
	57,500,000		FHLB		1.934		11/05/19		57,395
	29,250,000		FHLB		1.934		11/08/19		29,192
	29,780,000		FHLB		1.936		11/25/19		29,694
			TOTAL GOVERNMENT AGENCY DEBT						153,951
TREASURY DEBT - 1.0%
EGP	16,500,000	j	Egypt Treasury Bill		0.000		04/28/20		931
	22,325,000	j	Egypt Treasury Bill		0.000		05/12/20		1,253
NGN	615,000,000	j	Nigeria OMO Bill		0.000		12/05/19		1,659
	450,000,000	j	Nigeria OMO Bill		0.000		01/09/20		1,198
$	2,655,000		United States Treasury Bill		1.910		10/01/19		2,655
	28,590,000		United States Treasury Bill		1.917		10/08/19		28,580
	29,280,000		United States Treasury Bill		1.956		11/05/19		29,230
	50,000,000		United States Treasury Bill		1.853		11/14/19		49,890
	24,450,000		United States Treasury Bill		1.866		11/21/19		24,388
			TOTAL TREASURY DEBT						139,784
			TOTAL SHORT-TERM INVESTMENTS						293,735
			(Cost $293,640)
			TOTAL INVESTMENTS - 99.8%						14,161,172
			(Cost $13,641,642)
			OTHER ASSETS & LIABILITIES, NET - 0.2%						23,076
			NET ASSETS - 100.0%					$	14,184,248
			Abbreviation(s):
			ADR    American Depositary Receipt

369

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CNY	Chinese Yuan
DGS5	5-Year Treasury Constant Maturity Rate
DOP	Dominican Republic Peso
EGP	Egyptian Pound
EUR	Euro
GBP	Pound Sterling
ICE	Intercontinental Exchange
IDR	Indonesian Rupiah
ILS	Israeli New Shekel
JPY	Japanese Yen
KRW	South Korean Won
LIBOR	London Interbank Offered Rate
M	Month
MXN	Mexican Peso
MYR	Malaysian Ringgit
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
SOFR	Secure Overnight Financing Rate
THB	Thai Baht
UAH	Ukrainian Hryvnia
USD	United States Dollar
UYU	Uruguayan Peso
W	Week
Y	Year
ZAR	South African Rand

^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
‡	Perpetual security
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/19, the aggregate value of these securities was $2,371,416,859 or 16.7% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
j	Zero coupon
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
o	Payment in Kind Bond
	Cost amounts are in thousands.

370

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

Forward foreign currency contracts outstanding as of September 30, 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)
$	1,064	EUR	970	Australia & New Zealand Banking Group	10/31/2019	$	4
EUR	671	$	737	Australia & New Zealand Banking Group	10/31/2019		(3	)
NZD	1,068	$	671	Australia & New Zealand Banking Group	10/31/2019		(1	)
Total						$	0
$	20,216	GBP	16,427	Bank of America	10/31/2019		(10	)
$	2,709	ILS	9,518	Bank of America	10/2/2019		(29	)
$	2,755	ILS	9,580	Bank of America	10/31/2019		(6	)
$	1,624	SEK	15,624	Bank of America	10/31/2019		34
Total						$	(11	)
$	7,317	AUD	10,816	Citibank, N.A.	10/31/2019	$	8
$	1,266	EUR	1,142	Citibank, N.A.	10/31/2019		18
$	207	EUR	187	Citibank, N.A.	10/31/2019		3
$	95,664	EUR	85,836	Citibank, N.A.	10/31/2019		1,874
$	36,001	JPY	3,800,342	Citibank, N.A.	10/31/2019		775
$	3,910	NOK	35,214	Citibank, N.A.	10/31/2019		37
$	3,214	NZD	5,045	Citibank, N.A.	10/31/2019		52
$	2,683	PLN	10,746	Citibank, N.A.	10/31/2019		3
$	1,016	SGD	1,403	Citibank, N.A.	10/31/2019		0	^
Total						$	2,770
$	11,102	CAD	14,714	Morgan Stanley	10/31/2019	$	(9	)
$	459	ZAR	6,964	Morgan Stanley	10/31/2019		1
Total						$	(8	)
$	10,129	KRW	12,141,975	Toronto Dominion Bank	10/31/2019	$	(6	)
$	2,727	THB	83,623	Toronto Dominion Bank	10/31/2019		(8	)
Total						$	(14	)
Total						$	2,737

^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

371

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

Centrally cleared credit default swap contracts outstanding as of September 30, 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*		Variation margin			Unrealized appreciation (depreciation)
CDX-NAHYS32V2-5 Year Index	5.000%	Credit event as specified in contract	Citigroup Global Markets, Inc	06/20/24	$	24,750	$	(78	)	$	(100	)
CDX-NAHYS32V2-5 Year Index	5.000	Credit event as specified in contract	Citigroup Global Markets, Inc	06/20/24	14,850			(47	)		(10	)
CDX-NAHYS32V2-5 Year Index	5.000	Credit event as specified in contract	Citigroup Global Markets, Inc	06/20/24	1,980			(6	)		6
CDX-NAHYS32V2-5 Year Index	5.000	Credit event as specified in contract	Citigroup Global Markets, Inc	06/20/24	24,750			(78	)		(247	)
CDX-NAHYS32V2-5 Year Index	5.000	Credit event as specified in contract	Citigroup Global Markets, Inc	06/20/24	19,800			(63	)		69
Total							$	(272	)	$	(282	)

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

SOLD

Reference entity	Terms of payments to be paid	Terms of payments to be received	Counterparty	Maturity date	Notional amount*		Variation margin		Unrealized appreciation (depreciation)
CDX-NAHYS32V2-5 Year Index	Credit event as specified in contract	5.000%	Citigroup Global Markets, Inc	06/20/24	$	19,800	$	62	$	414

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

372

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2019

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
GOVERNMENT BONDS - 99.7%
AGENCY SECURITIES - 0.8%
$	4,200,000		Crowley Conro LLC		4.181	%	08/15/43	$	4,790
	17,870,000		Montefiore Medical Center		2.895		04/20/32		18,669
	3,500,000		Private Export Funding Corp (PEFCO)		2.300		09/15/20		3,510
	3,000,000		PEFCO		3.250		06/15/25		3,227
	4,276,316		Reliance Industries Ltd		2.444		01/15/26		4,356
	3,500,000		Ukraine Government AID International Bonds		1.847		05/29/20		3,507
	15,000,000		Ukraine Government AID International Bonds		1.471		09/29/21		14,940
			TOTAL AGENCY SECURITIES						52,999
MORTGAGE BACKED - 0.7%
	23,709,760		Government National Mortgage Association (GNMA)		3.600		09/15/31		25,297
	11,706,996		GNMA		3.650		02/15/32		12,343
	2,519,235		GNMA		3.380		07/15/35		2,687
	3,228,612		GNMA		3.870		10/15/36		3,459
			TOTAL MORTGAGE BACKED						43,786
U.S. TREASURY SECURITIES - 98.2%
	241,530,551	k	United States Treasury Inflation Indexed Bonds		1.125		01/15/21		242,278
	344,231,820	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/21		340,547
	296,871,248	k	United States Treasury Inflation Indexed Bonds		0.625		07/15/21		297,994
	358,172,809	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/22		354,771
	279,031,630	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/22		276,241
	325,766,880	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/22		324,410
	332,335,510	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/23		329,627
	234,461,490	k	United States Treasury Inflation Indexed Bonds		0.625		04/15/23		236,443
	236,473,380	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/23		237,937
	153,110,945	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		155,541
	166,827,360	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		168,970
	138,841,680	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		138,784
	176,558,340	k	United States Treasury Inflation Indexed Bonds		0.250		01/15/25		177,073
	268,484,668	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/25		298,939
	116,840,880	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/25		118,452
	158,720,310	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/26		162,838
	214,348,712	k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		238,042
	147,704,160	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/26		147,483
	223,569,945	k	United States Treasury Inflation Indexed Bonds		0.375		01/15/27		226,269
	122,385,640	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/27		141,510
	121,136,400	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/27		123,173
	213,740,550	k	United States Treasury Inflation Indexed Bonds		0.500		01/15/28		218,913
	211,127,936	k	United States Treasury Inflation Indexed Bonds		1.750		01/15/28		237,429
	112,661,986	k	United States Treasury Inflation Indexed Bonds		3.625		04/15/28		144,646
	122,648,400	k	United States Treasury Inflation Indexed Bonds		0.750		07/15/28		128,930

373

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	212,356,540	k	United States Treasury Inflation Indexed Bonds		0.875	%	01/15/29	$	225,703
	140,885,784	k	United States Treasury Inflation Indexed Bonds		2.500		01/15/29		170,346
	203,022,357	k	United States Treasury Inflation Indexed Bonds		3.875		04/15/29		272,483
	191,569,180	k	United States Treasury Inflation Indexed Bonds		0.250		07/15/29		193,578
	25,294,325	k	United States Treasury Inflation Indexed Bonds		3.375		04/15/32		34,961
	67,000,000		United States Treasury Note		1.875		07/31/26		68,104
	87,000,000		United States Treasury Note		1.625		08/15/29		86,623
			TOTAL U.S. TREASURY SECURITIES						6,519,038
			TOTAL GOVERNMENT BONDS						6,615,823
			(Cost $6,377,626)
SHORT-TERM INVESTMENTS - 0.1%
GOVERNMENT AGENCY DEBT - 0.1%
	8,580,000		Federal Home Loan Bank (FHLB)		1.500		10/01/19		8,580
			TOTAL GOVERNMENT AGENCY DEBT						8,580
			TOTAL SHORT-TERM INVESTMENTS						8,580
			(Cost $8,580)
			TOTAL INVESTMENTS - 99.8%						6,624,403
			(Cost $6,386,206)
			OTHER ASSETS & LIABILITIES, NET - 0.2%						14,861
			NET ASSETS - 100.0%					$	6,639,264

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

374

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2019

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.1%
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
$	5,172,750	i	United Rentals North America, Inc	LIBOR 1 M + 1.750%	3.794	%	10/31/25	$	5,193
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						5,193
ENERGY - 0.0%
	3,859,391	†,i	TerraForm Power Operating LLC	LIBOR 1 M + 2.000%	4.044		11/08/22		3,864
			TOTAL ENERGY						3,864
MATERIALS - 0.0%
	2,769,261	i	H.B. Fuller Co	LIBOR 1 M + 2.000%	4.044		10/21/24		2,756
			TOTAL MATERIALS						2,756
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	3,775,972	i	MTS Systems Corp	LIBOR 1 M + 3.250%	5.310		07/05/23		3,776
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						3,776
UTILITIES - 0.0%
	4,776,925	i	ExGen Renewables IV LLC	LIBOR 3 M + 3.000%	5.130		11/28/24		4,666
			TOTAL UTILITIES						4,666
			TOTAL BANK LOAN OBLIGATIONS						20,255
			(Cost $20,308)
BONDS - 39.3%
CORPORATE BONDS - 15.2%
AUTOMOBILES & COMPONENTS - 0.2%
	6,675,000		Aptiv plc		5.400		03/15/49		7,639
	8,000,000	g	Harley-Davidson Financial Services, Inc		4.050		02/04/22		8,251
	10,675,000		Magna International, Inc		3.625		06/15/24		11,225
			TOTAL AUTOMOBILES & COMPONENTS						27,115
BANKS - 2.7%
	18,000,000		Bank of Nova Scotia		2.700		08/03/26		18,260
	7,000,000		BB&T Corp		3.875		03/19/29		7,590
	8,000,000	e,g	BNG Bank NV		3.125		11/08/21		8,222
	12,400,000	e,g	BNG Bank NV		2.625		02/27/24		12,890
	3,800,000		Citizens Bank NA		3.750		02/18/26		4,065
	1,350,000		Citizens Financial Group, Inc		2.375		07/28/21		1,353
	13,000,000		Citizens Financial Group, Inc		2.850		07/27/26		13,131
	8,150,000		Comerica, Inc		4.000		02/01/29		8,971
	6,600,000	g	Commonwealth Bank of Australia		3.743		09/12/39		6,554
	7,025,000		Cooperatieve Rabobank UA		3.950		11/09/22		7,317

375

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	4,950,000		Cooperatieve Rabobank UA		3.750	%	07/21/26	$	5,136
	9,400,000	e	Discover Bank		3.450		07/27/26		9,695
	9,300,000		Discover Bank		4.650		09/13/28		10,360
	5,000,000	g	DNB Boligkreditt AS.		2.000		05/28/20		4,996
	9,400,000		Fifth Third Bancorp		3.650		01/25/24		9,910
	8,400,000	g	HSBC Bank Canada		1.650		09/10/22		8,343
	13,400,000		HSBC Holdings plc		3.033		11/22/23		13,598
	14,376,000	g	ING Groep NV		4.625		01/06/26		15,903
	13,500,000	g	Intesa Sanpaolo S.p.A		3.250		09/23/24		13,471
	4,000,000	g	Intesa Sanpaolo S.p.A		5.710		01/15/26		4,245
	7,200,000	g	Intesa Sanpaolo S.p.A		4.000		09/23/29		7,170
	5,525,000	g	Intesa Sanpaolo S.p.A		4.700		09/23/49		5,604
	8,000,000	i	KeyBank NA	LIBOR 3 M + 0.660%	2.913		02/01/22		8,036
	14,500,000		KeyCorp		4.100		04/30/28		15,989
	11,250,000	i	M&T Bank Corp	LIBOR 3 M + 0.680%	2.947		07/26/23		11,269
	9,076,000		Manufacturers & Traders Trust Co		2.778		12/01/21		9,070
	1,605,000		Manufacturers & Traders Trust Co		2.900		02/06/25		1,658
	3,425,000		Manufacturers & Traders Trust Co		3.400		08/17/27		3,675
	18,775,000	e	Mitsubishi UFJ Financial Group, Inc		2.527		09/13/23		18,934
	10,250,000		People’s United Bank NA		4.000		07/15/24		10,730
	24,878,000		People’s United Financial, Inc		3.650		12/06/22		25,657
	8,245,000		PNC Bank NA		2.950		01/30/23		8,425
	6,600,000	e,i	Regions Bank	LIBOR 3 M + 0.500%	2.676		08/13/21		6,602
	10,000,000		Regions Financial Corp		2.750		08/14/22		10,153
	17,785,000		SVB Financial Group		3.500		01/29/25		18,323
	13,000,000		Toronto-Dominion Bank		2.700		07/30/21		13,000
	12,500,000	g	Toronto-Dominion Bank		2.100		07/15/22		12,585
	7,000,000		US Bancorp		2.950		07/15/22		7,166
	19,000	g	Westpac Banking Corp		2.100		02/25/21		19
	4,350,000		Zions Bancorp NA		3.500		08/27/21		4,445
	4,400,000		Zions Bancorp NA		3.350		03/04/22		4,504
			TOTAL BANKS						387,024
CAPITAL GOODS - 0.4%
	1,975,000		Anixter, Inc		5.125		10/01/21		2,054
	6,250,000		CNH Industrial Capital LLC		3.875		10/15/21		6,412
	4,800,000		CNH Industrial Capital LLC		4.200		01/15/24		5,065
	4,000,000		Ingersoll-Rand Luxembourg Finance S.A.		3.550		11/01/24		4,176
	3,175,000	e	Ingersoll-Rand Luxembourg Finance S.A.		3.500		03/21/26		3,307
	8,975,000		Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		9,557
	13,750,000	g	NBM US Holdings, Inc		6.625		08/06/29		14,094
	3,700,000		Parker-Hannifin Corp		3.250		06/14/29		3,855
	5,625,000		Parker-Hannifin Corp		4.200		11/21/34		6,332
	725,000	e	Trimble, Inc		4.150		06/15/23		757
	6,050,000		Trimble, Inc		4.900		06/15/28		6,566
			TOTAL CAPITAL GOODS						62,175
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	11,250,000		Covanta Holding Corp		6.000		01/01/27		11,841
	3,475,000		Waste Management, Inc		3.900		03/01/35		3,852
	4,550,000		Waste Management, Inc		4.000		07/15/39		5,171
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						20,864

376

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
CONSUMER SERVICES - 0.7%
$	3,125,000		Conservation Fund		3.474	%	12/15/29	$	3,179
	10,000,000		Henry J Kaiser Family Foundation		3.356		12/01/25		10,541
	3,440,000		Nature Conservancy		3.333		02/01/24		3,437
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations		4.305		07/01/45		20,636
	4,615,000		Salvation Army		5.637		09/01/26		5,385
	20,000,000		Salvation Army		4.528		09/01/48		21,786
	12,300,000		Starbucks Corp		2.450		06/15/26		12,401
	13,500,000		Starbucks Corp		4.450		08/15/49		15,672
	11,065,000		YMCA of Greater New York		5.151		08/01/48		13,730
			TOTAL CONSUMER SERVICES						106,767
DIVERSIFIED FINANCIALS - 1.0%
	2,960,000		Ally Financial, Inc		3.875		05/21/24		3,063
	10,000,000		AXA Equitable Holdings, Inc		4.350		04/20/28		10,652
	11,500,000		Century Housing Corp		3.995		11/01/21		11,780
	2,169,000		Discover Financial Services		3.850		11/21/22		2,263
	9,500,000	g	EDP Finance BV		5.250		01/14/21		9,809
	11,625,000	g	EDP Finance BV		3.625		07/15/24		12,004
	4,750,000		Enterprise Community Loan Fund, Inc		4.152		11/01/28		5,046
	8,680,000	g	Federation des Caisses Desjardins du Quebec		1.950		09/26/22		8,696
	9,500,000		Ford Foundation		3.859		06/01/47		11,217
	2,300,000		Legg Mason, Inc		3.950		07/15/24		2,435
	680,000		Reinvestment Fund, Inc		3.377		02/15/22		694
	1,535,000		Reinvestment Fund, Inc		3.166		11/01/23		1,550
	3,000,000		Reinvestment Fund, Inc		3.600		02/15/24		3,093
	10,250,000		Reinvestment Fund, Inc		3.366		11/01/24		10,477
	2,570,000		Reinvestment Fund, Inc		3.513		11/01/25		2,639
	15,240,000		Reinvestment Fund, Inc		3.880		02/15/27		16,041
	10,435,000		Reinvestment Fund, Inc		3.930		02/15/28		11,047
	5,300,000	g,i	Swiss Re Finance Luxembourg SA	DGS5 + 3.582%	5.000		04/02/49		5,851
	11,075,000		Unilever Capital Corp		2.000		07/28/26		10,980
	7,600,000		Unilever Capital Corp		2.125		09/06/29		7,461
			TOTAL DIVERSIFIED FINANCIALS						146,798
ENERGY - 1.6%
	1,683,000	e	Apache Corp		3.250		04/15/22		1,714
	14,500,000		Cenovus Energy, Inc		5.250		06/15/37		15,799
	3,175,000		Cimarex Energy Co		3.900		05/15/27		3,233
	10,405,000	g	Colorado Interstate Gas Co LLC		4.150		08/15/26		10,933
	6,999,724	g	Continental Wind LLC		6.000		02/28/33		8,030
	3,125,000	e	EnLink Midstream LLC		5.375		06/01/29		2,984
	4,450,000		EOG Resources, Inc		5.100		01/15/36		5,424
	15,000,000	i	EQT Corp	LIBOR 3 M + 0.770%	2.103		10/01/20		14,966
	11,050,000	g	Greenko Dutch BV		4.875		07/24/22		11,056
	17,292,000		National Oilwell Varco, Inc		3.950		12/01/42		15,857
	3,290,000		Noble Energy, Inc		5.050		11/15/44		3,591
	6,000,000	i	Occidental Petroleum Corp	LIBOR 3 M + 1.450%	3.637		08/15/22		6,040
	9,350,000		Occidental Petroleum Corp		3.200		08/15/26		9,419
	12,125,000		Occidental Petroleum Corp		4.300		08/15/39		12,446
	4,425,000	e	ONEOK, Inc		2.750		09/01/24		4,448
	3,875,000		ONEOK, Inc		4.000		07/13/27		4,056

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	6,200,000		ONEOK, Inc	4.950	%	07/13/47	$	6,726
	13,900,000		ONEOK, Inc	4.450		09/01/49		13,876
	9,000,000		Phillips 66	4.650		11/15/34		10,396
	9,500,000		Statoil ASA	3.150		01/23/22		9,756
	4,500,000		Statoil ASA	2.650		01/15/24		4,622
	5,932,000		Statoil ASA	3.950		05/15/43		6,771
	625,000	g	Targa Resources Partners LP	6.500		07/15/27		682
	20,000,000	g	TerraForm Power Operating LLC	5.000		01/31/28		20,800
	7,150,000		Total Capital International S.A.	2.829		01/10/30		7,370
	8,700,000		Valero Energy Corp	4.350		06/01/28		9,452
	10,050,000	g	Woodside Finance Ltd	3.700		03/15/28		10,319
			TOTAL ENERGY					230,766
FOOD, BEVERAGE & TOBACCO - 0.1%
	9,200,000		Coca-Cola Co	1.750		09/06/24		9,130
	7,200,000		Coca-Cola Co	2.125		09/06/29		7,057
			TOTAL FOOD, BEVERAGE & TOBACCO					16,187
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	7,500,000		Becton Dickinson & Co	3.142		06/06/22		7,531
	2,750,000		Becton Dickinson & Co	3.363		06/06/24		2,869
	3,518,000		Becton Dickinson & Co	4.685		12/15/44		4,062
	3,200,000		HCA, Inc	5.125		06/15/39		3,500
	9,000,000		Laboratory Corp of America Holdings	3.200		02/01/22		9,183
			TOTAL HEALTH CARE EQUIPMENT & SERVICES					27,145
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	2,700,000		Kimberly-Clark Corp	3.950		11/01/28		3,065
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS					3,065
INSURANCE - 0.5%
	5,500,000		Cigna Corp	4.800		08/15/38		6,180
	2,270,000	g	Cranberry RE Ltd	3.633		07/13/20		2,273
	15,000,000		Prudential Financial, Inc	5.200		03/15/44		15,664
	7,450,000		Prudential Financial, Inc	5.375		05/15/45		7,897
	18,222,000	g	Swiss Re Treasury US Corp	2.875		12/06/22		18,545
	14,024,000	g	Swiss Re Treasury US Corp	4.250		12/06/42		16,112
			TOTAL INSURANCE					66,671
MATERIALS - 0.9%
	10,000,000		3M Co	2.000		02/14/25		9,939
	4,875,000		3M Co	3.250		08/26/49		4,893
	10,625,000	g	Air Liquide Finance S.A.	2.250		09/10/29		10,407
	4,800,000		Commercial Metals Co	5.750		04/15/26		4,944
	20,000,000	e	Fibria Overseas Finance Ltd	5.500		01/17/27		21,485
	5,000,000		International Paper Co	6.000		11/15/41		6,105
	4,600,000		International Paper Co	4.800		06/15/44		4,980
	17,000,000	g	Inversiones CMPC S.A.	4.375		04/04/27		17,999
	14,250,000	g	Klabin Austria GmbH	7.000		04/03/49		15,173
	8,125,000	e,g	Klabin Finance S.A.	4.875		09/19/27		8,257
EUR	2,500,000	g	LG Chem Ltd	0.500		04/15/23		2,760
$	11,450,000	g	LG Chem Ltd	3.625		04/15/29		11,994
	2,500,000	e,g	Sealed Air Corp	5.500		09/15/25		2,694
			TOTAL MATERIALS					121,630

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
MEDIA & ENTERTAINMENT - 0.1%
$	3,625,000		Discovery Communications LLC		5.000	%	09/20/37	$	3,899
	5,500,000		Time Warner Cable LLC		4.500		09/15/42		5,409
			TOTAL MEDIA & ENTERTAINMENT						9,308
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.3%
	4,275,000	g,i	Bristol-Myers Squibb Co	LIBOR 3 M + 0.380%	2.548		05/16/22		4,279
	5,650,000	g	Bristol-Myers Squibb Co		4.125		06/15/39		6,407
	4,000,000	i	GlaxoSmithKline Capital plc	LIBOR 3 M + 0.350%	2.525		05/14/21		4,005
	8,650,000		GlaxoSmithKline Capital, Inc		3.625		05/15/25		9,304
	6,500,000		Merck & Co, Inc		3.900		03/07/39		7,558
	7,200,000	i	Zoetis, Inc	LIBOR 3 M + 0.440%	2.576		08/20/21		7,185
	4,525,000		Zoetis, Inc		4.450		08/20/48		5,371
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						44,109
REAL ESTATE - 0.6%
	8,500,000		Alexandria Real Estate Equities, Inc		4.000		01/15/24		9,070
	1,975,000		Brandywine Operating Partnership LP		3.950		02/15/23		2,059
	4,300,000		Brandywine Operating Partnership LP		3.950		11/15/27		4,495
	8,775,000		Brixmor Operating Partnership LP		3.900		03/15/27		9,201
	4,888,000		Digital Realty Trust LP		3.950		07/01/22		5,103
	3,500,000		Federal Realty Investment Trust		2.750		06/01/23		3,554
	3,750,000		Host Hotels & Resorts LP		3.375		12/15/29		3,742
	2,550,000		Hudson Pacific Properties LP		4.650		04/01/29		2,813
	1,925,000	h	Hudson Pacific Properties LP		3.250		01/15/30		1,903
	11,075,000		Kilroy Realty LP		3.450		12/15/24		11,519
	8,375,000		Kilroy Realty LP		4.750		12/15/28		9,425
	16,822,000		Regency Centers LP		3.750		06/15/24		17,679
			TOTAL REAL ESTATE						80,563
RETAILING - 0.1%
	10,774,000		Lowe’s Cos, Inc		4.250		09/15/44		11,552
			TOTAL RETAILING						11,552
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.1%
	11,025,000		Texas Instruments, Inc		3.875		03/15/39		12,762
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						12,762
SOFTWARE & SERVICES - 0.1%
	17,900,000		International Business Machines Corp		4.150		05/15/39		20,444
			TOTAL SOFTWARE & SERVICES						20,444
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	14,250,000		Apple, Inc		3.000		06/20/27		14,987
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						14,987
TELECOMMUNICATION SERVICES - 0.3%
	11,000,000		Telefonica Emisiones SAU		5.520		03/01/49		13,406
	18,500,000	i	Verizon Communications, Inc	LIBOR 3 M + 1.100%	3.258		05/15/25		18,786
	11,750,000		Verizon Communications, Inc		2.625		08/15/26		11,903
	5,150,000		Verizon Communications, Inc		4.272		01/15/36		5,800
			TOTAL TELECOMMUNICATION SERVICES						49,895

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
TRANSPORTATION - 0.8%
$	2,050,000		CSX Corp	4.250	%	03/15/29	$	2,316
	5,650,000		CSX Corp	4.750		11/15/48		6,817
	6,775,000		CSX Corp	4.250		11/01/66		7,192
	7,150,000		Delta Air Lines, Inc	3.625		03/15/22		7,345
	1,833,388		Delta Air Lines, Inc	4.250		07/30/23		1,961
	7,150,000		Delta Air Lines, Inc	3.204		04/25/24		7,470
	4,898,698		Delta Air Lines, Inc	3.625		07/30/27		5,218
	7,000,000		Kansas City Southern	4.300		05/15/43		7,634
	15,925,000		Kansas City Southern	4.950		08/15/45		19,145
	475,000		Norfolk Southern Corp	5.590		05/17/25		548
	13,000,000		Union Pacific Corp	4.375		09/10/38		15,004
	4,620,254		Union Pacific Railroad Co	3.227		05/14/26		4,827
	15,312,209		Union Pacific Railroad Co	2.695		05/12/27		15,581
	1,360,000		United Parcel Service of America, Inc (Step Bond)	8.375		04/01/30		1,930
	10,000,000		United Parcel Service, Inc	3.750		11/15/47		10,754
			TOTAL TRANSPORTATION					113,742
UTILITIES - 4.3%
	12,750,000		Arizona Public Service Co	2.600		08/15/29		12,792
	8,280,000		Arizona Public Service Co	3.750		05/15/46		8,806
	13,155,000		Avangrid, Inc	3.150		12/01/24		13,562
	22,200,000		Avangrid, Inc	3.800		06/01/29		23,855
	15,275,000		Avista Corp	4.350		06/01/48		17,956
	700,000	g	Azure Power Energy Ltd	5.500		11/03/22		707
	6,100,000	e,g	Azure Power Solar Energy Pvt Ltd	5.650		12/24/24		6,107
	16,500,000	g	Brooklyn Union Gas Co	4.273		03/15/48		19,192
	13,500,000	g	Brooklyn Union Gas Co	4.487		03/04/49		16,427
	3,000,000	g	Clearway Energy Operating LLC	5.750		10/15/25		3,157
	2,000,000		Connecticut Light & Power Co	5.750		03/01/37		2,615
	7,525,000	g	Consorcio Transmantaro SA	4.700		04/16/34		8,183
	4,850,000		Dominion Energy, Inc (Step Bond)	3.071		08/15/24		4,963
	13,787,000		DTE Electric Co	3.950		03/01/49		15,818
	22,500,000	g	Electricite de France S.A.	3.625		10/13/25		23,794
	6,656,000		Fortis, Inc	3.055		10/04/26		6,765
	13,750,000	e	Georgia Power Co	3.250		04/01/26		14,209
	16,000,000	g	Hanwha Energy USA Holdings Corp	2.375		07/30/22		16,022
	9,925,000	g	HAT Holdings I LLC	5.250		07/15/24		10,434
	2,745,000		International Transmission Co	4.625		08/15/43		3,230
	6,575,000		Interstate Power & Light Co	3.250		12/01/24		6,859
	3,000,000		Interstate Power & Light Co	4.100		09/26/28		3,307
	24,325,000	g	Korea Hydro & Nuclear Power Co Ltd	3.750		07/25/23		25,666
	4,000,000		MidAmerican Energy Co	3.100		05/01/27		4,208
	9,250,000	g	Narragansett Electric Co	4.170		12/10/42		10,183
	3,225,000	g	NextEra Energy Operating Partners LP	4.250		07/15/24		3,322
	2,050,000	g	NextEra Energy Operating Partners LP	4.250		09/15/24		2,114
	3,875,000	g	NextEra Energy Operating Partners LP	4.500		09/15/27		3,962
	9,732,000	g	Niagara Mohawk Power Corp	4.278		10/01/34		11,229
	9,750,000	g	Niagara Mohawk Power Corp	4.119		11/28/42		10,913
	9,350,000		NorthWestern Corp	4.176		11/15/44		10,575
	1,400,000		ONE Gas, Inc	4.500		11/01/48		1,712
	18,900,000	g	Pattern Energy Group, Inc	5.875		02/01/24		19,349

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	13,050,000		PSEG Power LLC		3.850	%	06/01/23	$	13,800
	630,000		Public Service Co of Colorado		4.750		08/15/41		770
	7,625,000		Public Service Co of Colorado		4.100		06/15/48		8,912
	14,975,000		Public Service Co of Colorado		3.200		03/01/50		15,229
	2,975,000		Public Service Co of New Hampshire		3.600		07/01/49		3,213
	3,450,000		Public Service Electric & Gas Co		3.200		08/01/49		3,527
	5,500,000		San Diego Gas & Electric Co		3.000		08/15/21		5,568
	4,776,855		San Diego Gas & Electric Co		1.914		02/01/22		4,683
	24,273,309	g	Solar Star Funding LLC		3.950		06/30/35		24,195
	23,111,179	g	Solar Star Funding LLC		5.375		06/30/35		25,544
	2,000,000		Southern California Edison Co		2.400		02/01/22		2,006
	6,000,000		Southern California Edison Co		3.400		06/01/23		6,212
	4,700,000		Southern California Edison Co		4.125		03/01/48		5,113
	8,300,000		Southern Power Co		2.500		12/15/21		8,314
	25,000,000		Southern Power Co		4.150		12/01/25		27,086
	14,000,000		Southwestern Public Service Co		3.750		06/15/49		15,468
	29,793,800	g	Star Energy Geothermal Wayang Windu Ltd		6.750		04/24/33		31,029
	12,400,000		Tampa Electric Co		4.300		06/15/48		14,513
	20,949,887	g	Topaz Solar Farms LLC		4.875		09/30/39		21,846
	11,592,779	g	Topaz Solar Farms LLC		5.750		09/30/39		13,009
	19,650,000		Westar Energy, Inc		2.550		07/01/26		19,816
			TOTAL UTILITIES						611,846
			TOTAL CORPORATE BONDS						2,185,415
			(Cost $2,060,866)
GOVERNMENT BONDS - 20.0%
AGENCY SECURITIES - 3.4%
	4,697,000		Canal Barge Co, Inc		4.500		11/12/34		5,305
	3,638,043		CES MU2 LLC		1.994		05/13/27		3,644
	3,125,000		DY7 Leasing LLC		2.578		12/10/25		3,186
	3,708,500		DY9 Leasing LLC		2.415		06/30/27		3,780
	8,790,504		Ethiopian Leasing LLC		2.566		08/14/26		9,065
	2,522,912		Export Lease Ten Co LLC		1.650		05/07/25		2,508
	2,899,851		Export Leasing LLC		1.859		08/28/21		2,901
	2,290,826	g	Genesis Solar Pass Through Trust		3.875		02/15/38		2,599
	5,000,000	j	Government Trust Certificate		0.000		04/01/21		4,844
	5,950,000		Hashemite Kingdom of Jordan Government AID International Bond		3.000		06/30/25		6,348
	4,010,000	g	Hospital for Special Surgery		3.500		01/01/23		4,140
	5,625,000	i	India Government AID Bond	LIBOR 3 M + 0.100%	2.353		02/01/27		5,480
	45,500,000		Iraq Government AID International Bond		2.149		01/18/22		45,936
	3,965,000		Lutheran Medical Center		1.982		02/20/30		3,889
	5,625,000		Mexican Aircraft Finance V LLC		2.329		01/14/27		5,708
	4,750,000		Montefiore Medical Center		2.152		10/20/26		4,765
	2,705,000	g	Montefiore Medical Center		3.896		05/20/27		2,779
	18,960,000		Montefiore Medical Center		2.895		04/20/32		19,808
	7,000,000		NCUA Guaranteed Notes		3.450		06/12/21		7,140
	15,065,000		New York Society for the Relief of the Ruptured & Crippled		2.881		12/20/31		15,704
	2,400,000	j	Overseas Private Investment Corp (OPIC)		0.000		11/15/19		2,467
	4,363,082	j	OPIC		0.000		11/15/19		4,874
	3,050,000	j	OPIC		0.000		01/26/21		3,200

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	3,000,000	j	OPIC		0.000	%	01/26/21	$	3,139
	12,226,000	j	OPIC		0.000		07/17/21		12,747
	2,876,883		OPIC		2.290		09/15/26		2,904
	1,480,516		OPIC		2.040		12/15/26		1,484
	9,131,383		OPIC		2.740		09/15/29		9,418
	14,048,282		OPIC		3.220		09/15/29		14,850
	12,643,454		OPIC		3.280		09/15/29		13,405
	18,750,000		OPIC		2.360		10/15/29		18,974
	2,421,331		OPIC		2.610		04/15/30		2,479
	3,391,500		OPIC		2.930		05/15/30		3,534
	5,604,900		OPIC		3.040		05/15/30		5,875
	6,323,611		OPIC		3.540		06/15/30		6,815
	16,455,221		OPIC		3.370		12/15/30		17,544
	7,196,429		OPIC		3.520		09/20/32		7,799
	19,117,599		OPIC		3.820		12/20/32		21,278
	12,333,934		OPIC		3.938		12/20/32		13,828
	11,097,870		OPIC		3.160		06/01/33		11,900
	10,653,955		OPIC		3.430		06/01/33		11,647
	1,089,519		OPIC		2.810		07/31/33		1,135
	1,743,230		OPIC		2.940		07/31/33		1,832
	20,000,000		OPIC		2.290		07/15/38		20,206
	3,741,349		Penta Aircraft Leasing LLC		1.691		04/29/25		3,708
	3,181,815	i	Pluto Aircraft Leasing LLC	LIBOR 3 M + 0.210%	2.419		02/07/23		3,172
	8,000,000		Private Export Funding Corp (PEFCO)		2.300		09/15/20		8,023
	7,500,000	g	PEFCO		3.266		11/08/21		7,704
	17,500,000		PEFCO		4.300		12/15/21		18,408
	4,250,000		PEFCO		2.050		11/15/22		4,287
	4,000,000		PEFCO		3.550		01/15/24		4,297
	8,000,000		PEFCO		3.250		06/15/25		8,606
	3,428,947		Safina Ltd		1.550		01/15/22		3,413
	6,073,532		Sandalwood LLC		2.836		07/10/25		6,247
	1,181,011		Tayarra Ltd		3.628		02/15/22		1,206
	1,098,099		Tricahue Leasing LLC		3.503		11/19/21		1,119
	15,300,000		Ukraine Government AID International Bonds		1.847		05/29/20		15,329
	6,847,827		Ulani MSN 37894		2.184		12/20/24		6,898
	2,421,981		Union 16 Leasing LLC		1.863		01/22/25		2,418
	6,850,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		7,043
	2,483,000		US Department of Housing and Urban Development (HUD)		4.960		08/01/20		2,509
	2,170,000		HUD		5.050		08/01/21		2,194
	3,217,000		HUD		2.910		08/01/23		3,278
	4,000,000		HUD		2.860		08/01/26		4,265
			TOTAL AGENCY SECURITIES						486,987
FOREIGN GOVERNMENT BONDS - 3.9%
	9,500,000		Asian Development Bank		2.125		03/19/25		9,734
	6,500,000		Asian Development Bank		1.750		08/14/26		6,525
	14,000,000		Asian Development Bank		3.125		09/26/28		15,602
	6,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,999
	4,432,903	g	Carpintero Finance Ltd		2.004		09/18/24		4,443
	7,500,000	g	CDP Financial, Inc		2.125		06/11/21		7,536
	4,900,000	g	CDP Financial, Inc		2.750		03/07/22		5,012
EUR	4,000,000		Chile Government International Bond		0.830		07/02/31		4,569

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	5,000,000	g	CPPIB Capital, Inc		2.750	%	11/02/27	$	5,304
	19,500,000		European Bank for Reconstruction & Development		1.625		09/27/24		19,474
	20,750,000		European Investment Bank		2.125		04/13/26		21,358
	3,750,000	e	European Investment Bank		2.375		05/24/27		3,931
	2,000,000		European Investment Bank		4.875		02/15/36		2,774
	11,500,000	g	European Stability Mechanism		1.375		09/11/24		11,334
	12,000,000		Export Development Canada		1.375		10/21/21		11,919
	12,500,000		Export Development Canada		2.625		02/21/24		13,020
	15,000,000	g	Finnvera Oyj		2.375		06/04/25		15,389
	6,082,000		Hydro Quebec		8.400		01/15/22		6,934
	20,000,000	i	Inter-American Development Bank	LIBOR 3 M + 0.010%	2.313		01/15/22		19,980
	19,250,000		International Bank for Reconstruction & Development		3.125		11/20/25		20,872
	27,150,000	g	International Development Association		2.750		04/24/23		28,169
	46,500,000		International Finance Corp		1.546		11/04/21		46,159
	41,500,000		International Finance Corp		2.125		04/07/26		42,696
	5,000,000		Japan Bank for International Cooperation		1.875		04/20/21		5,000
	9,000,000	g	Japan Finance Organization for Municipalities		2.125		04/13/21		9,018
	12,500,000	g	Kommunalbanken AS.		2.125		02/11/25		12,768
	9,500,000	i	Korea Development Bank International Bond	LIBOR 3 M + 0.725%	3.028		07/06/22		9,571
	10,000,000		Kreditanstalt fuer Wiederaufbau		2.625		01/25/22		10,220
	26,000,000		Kreditanstalt fuer Wiederaufbau		1.750		09/14/29		25,988
	3,000,000	g	Nacional Financiera SNC		3.375		11/05/20		3,019
	15,000,000	g	Nederlandse Waterschapsbank NV		3.125		12/05/22		15,648
	25,000,000	g	Nederlandse Waterschapsbank NV		2.375		03/24/26		25,918
	3,725,000		North American Development Bank		4.375		02/11/20		3,747
	5,267,000		North American Development Bank		2.400		10/26/22		5,315
	13,000,000	g	OMERS Finance Trust		2.500		05/02/24		13,406
	12,500,000	g	Ontario Teachers’ Finance Trust		1.625		09/12/24		12,401
	22,800,000	g	Perusahaan Penerbit SBSN Indonesia III		3.750		03/01/23		23,610
	10,500,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		11,067
	12,700,000		Province of Manitoba Canada		3.050		05/14/24		13,402
	12,500,000		Province of Ontario Canada		3.050		01/29/24		13,158
	10,000,000		Province of Quebec Canada		2.750		04/12/27		10,582
	5,000,000		Province of Quebec Canada		7.500		09/15/29		7,407
			TOTAL FOREIGN GOVERNMENT BONDS						559,978
MORTGAGE BACKED - 5.5%
	2,600,000		Federal Home Loan Mortgage Corp (FHLMC)		3.000		10/15/33		2,722
	9,122,224		FHLMC		3.500		08/15/43		9,520
	3,829,350		FHLMC		3.000		03/15/44		3,913
	13,643,984	i	FHLMC	LIBOR 1 M + 0.300%	2.328		06/15/48		13,543
	8,527,490	i	FHLMC		6.676		06/15/48		10,360
	6,603,343	i	FHLMC		6.596		10/15/48		7,827
	5,090		Federal Home Loan Mortgage Corp Gold (FGLMC)		7.000		10/01/20		5
	1,877		FGLMC		7.000		05/01/23		2
	12,074		FGLMC		8.000		01/01/31		13
	226,413		FGLMC		4.500		07/01/33		244
	1,516,957		FGLMC		7.000		12/01/33		1,754
	464,300		FGLMC		7.000		05/01/35		535
	1,091,018		FGLMC		5.000		06/01/36		1,205
	348,222		FGLMC		5.000		07/01/39		385
	567,208		FGLMC		4.500		10/01/44		612
	600,981		FGLMC		4.500		11/01/44		649
	874,166		FGLMC		4.500		11/01/44		943

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	376,179		FGLMC		4.500	%	12/01/44	$	400
	618,866		FGLMC		4.500		12/01/44		668
	2,237,520		FGLMC		3.500		04/01/45		2,364
	20,519,754		FGLMC		3.500		10/01/45		21,621
	9,672,898		FGLMC		4.000		12/01/45		10,336
	31,838,675		FGLMC		3.500		08/01/46		33,566
	25,912,577		FGLMC		3.000		01/01/47		26,563
	14,529,268		FGLMC		3.000		02/01/47		14,877
	9,244,700		FGLMC		3.500		02/01/47		9,587
	1,004,323		FGLMC		4.500		06/01/47		1,084
	2,436,179		FGLMC		4.000		09/01/47		2,595
	1,977,830		FGLMC		3.500		12/01/47		2,084
	8,218,269		FGLMC		3.500		03/01/48		8,642
	13,381,430		FGLMC		4.000		03/01/48		14,294
	3,314,030		FGLMC		4.000		07/01/48		3,536
	10,120,658		FGLMC		4.500		08/01/48		10,949
	11,662		Federal National Mortgage Association (FNMA)		8.000		07/01/24		13
	18,500,000	i	FNMA		2.894		02/25/27		19,258
	3,500,000	i	FNMA		3.436		06/25/28		3,791
	2,888,810		FNMA		3.500		05/01/32		3,002
	2,855,129		FNMA		5.000		05/01/35		3,152
	1,816,763		FNMA		5.000		10/01/35		2,007
	1,385,028		FNMA		5.000		02/01/36		1,530
	1,806,695		FNMA		5.500		11/01/38		2,039
	1,492,312		FNMA		5.000		09/01/40		1,649
	2,437,831		FNMA		5.000		05/01/41		2,688
	2,321,142		FNMA		3.000		04/25/43		2,377
	4,039,127	i	FNMA		3.932		09/25/43		732
	821,250		FNMA		4.000		01/01/44		878
	1,891,346		FNMA		4.500		03/01/44		2,051
	723,072		FNMA		4.500		06/01/44		781
	7,879,836		FNMA		4.500		06/01/44		8,505
	1,853,601		FNMA		4.500		08/01/44		2,000
	4,481,195		FNMA		4.500		10/01/44		4,839
	9,242,227		FNMA		4.500		11/01/44		9,980
	1,947,363		FNMA		5.000		11/01/44		2,149
	2,036,525		FNMA		4.500		12/01/44		2,199
	744,541		FNMA		4.000		01/01/45		793
	10,328,588		FNMA		3.000		02/25/45		10,769
	3,107,908		FNMA		3.000		02/25/45		3,168
	285,840		FNMA		3.500		03/01/45		300
	187,435		FNMA		3.500		03/01/45		198
	467,308		FNMA		4.500		03/01/45		504
	3,142,461		FNMA		3.000		03/25/45		3,235
	601,542		FNMA		4.500		04/01/45		649
	12,545,251		FNMA		3.500		04/25/45		13,073
	8,397,464		FNMA		3.500		04/25/45		8,725
	4,330,802		FNMA		3.500		05/01/45		4,585
	2,483,028		FNMA		4.000		12/01/45		2,651
	22,884,375		FNMA		3.000		12/25/45		23,572
	6,991,572		FNMA		3.500		01/01/46		7,362
	8,371,153		FNMA		4.000		01/01/46		8,940
	8,690,990		FNMA		3.500		06/01/46		9,152

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	4,914,994	h	FNMA	3.500	%	07/01/46	$	5,172
	2,463,470		FNMA	3.500		08/01/46		2,569
	1,893,180		FNMA	3.000		10/01/46		1,911
	6,374,749		FNMA	3.500		10/01/46		6,713
	8,996,365		FNMA	3.000		11/01/46		9,217
	6,273,153		FNMA	3.500		12/01/46		6,519
	19,574,962		FNMA	3.500		01/01/47		20,266
	2,584,787		FNMA	3.000		04/25/47		2,666
	3,214,217		FNMA	4.500		05/01/47		3,474
	1,091,145		FNMA	3.500		08/01/47		1,136
	1,491,350		FNMA	3.000		11/01/47		1,505
	522,052		FNMA	3.500		11/01/47		551
	6,137,772		FNMA	4.000		12/01/47		6,554
	1,100,465		FNMA	3.500		01/01/48		1,155
	5,516,499		FNMA	4.500		01/01/48		5,966
	4,362,134		FNMA	4.500		02/01/48		4,717
	52,299,209		FNMA	3.000		02/25/48		54,292
	5,656,048		FNMA	4.000		03/01/48		6,039
	19,406,188		FNMA	4.500		03/01/48		20,985
	51,658,158		FNMA	4.000		04/01/48		54,008
	3,977,436		FNMA	4.500		05/01/48		4,301
	2,970,237		FNMA	4.500		05/01/48		3,212
	798,576		FNMA	5.000		06/01/48		856
	889,620		FNMA	4.500		07/01/48		938
	5,307,004		FNMA	4.000		08/01/48		5,508
	7,190,263		FNMA	5.000		08/01/48		7,907
	3,000,000	h	FNMA	3.500		10/25/48		3,078
	29,071,564		FNMA	3.000		11/01/48		29,668
	4,810,194		FNMA	3.000		11/25/48		679
	3,948,267	h	FNMA	4.000		12/01/48		4,104
	4,177,299		FNMA	4.500		12/01/48		4,397
	228,122		FNMA	5.000		06/01/49		245
	837,715		FNMA	3.000		08/01/49		864
	2,288,000	h	FNMA	4.000		10/01/49		2,379
	4,371,499		Government National Mortgage Association (GNMA)	2.580		08/15/25		4,375
	10,283,135		GNMA	2.690		06/15/33		10,397
	8,364,221		GNMA	3.700		10/15/33		8,865
	164,531		GNMA	5.000		04/15/38		185
	224,104		GNMA	6.500		11/20/38		258
	22,915		GNMA	4.500		02/20/39		26
	7,948,845		GNMA	3.700		08/15/40		8,439
	30,797		GNMA	4.500		08/20/41		34
	112,305		GNMA	4.500		09/20/41		126
	25,371		GNMA	4.500		01/20/44		28
	25,505		GNMA	4.500		02/20/44		29
	48,959		GNMA	4.500		05/20/44		55
	316,029		GNMA	4.500		05/20/44		355
	360,109		GNMA	4.500		08/20/44		404
	227,749		GNMA	4.500		09/20/44		253
	135,862		GNMA	4.500		10/20/44		151
	53,335		GNMA	4.500		11/20/44		56
	222,876		GNMA	4.500		12/20/44		250
	298,517		GNMA	4.500		02/20/45		325
	341,041		GNMA	4.500		08/20/45		366

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
$	349,797		GNMA	4.500	%	08/20/45	$	392
	363,162		GNMA	4.500		12/20/45		407
	4,744,785	†	GNMA	4.000		06/20/46		628
	11,426,679		GNMA	3.000		12/20/47		11,743
	28,010,291		GNMA	3.500		12/20/47		29,094
	3,532,290		GNMA	3.000		01/20/48		3,630
	11,105,767		GNMA	3.500		01/20/48		11,531
	8,136,898		GNMA	3.500		01/20/49		8,599
	7,220,633		GNMA	4.000		07/20/49		7,530
			TOTAL MORTGAGE BACKED					782,776
MUNICIPAL BONDS - 4.2%
	3,340,000		Antelope Valley-East Kern Water Agency Financing Authority	4.326		06/01/36		3,609
	4,500,000	g	Basin Electric Power Coop	6.127		06/01/41		5,715
	3,790,000		Bay Area Water Supply & Conservation Agency	2.535		10/01/21		3,829
	2,635,000		Bay Area Water Supply & Conservation Agency	3.015		10/01/24		2,751
	1,170,000		Brunswick & Glynn County Development Authority	3.060		04/01/25		1,228
	13,000,000		California Housing Finance Agency	2.966		08/01/22		13,348
	3,380,000		Chicago Board of Education	5.000		12/01/20		3,490
	14,000,000		Chicago Housing Authority	4.361		01/01/38		16,215
	11,645,000		Chicago Metropolitan Water Reclamation District-Greater Chicago	5.720		12/01/38		15,756
	3,500,000		City & County Honolulu HI Wastewater System Revenue	3.200		07/01/26		3,729
	3,035,000		City & County of Honolulu HI	2.668		10/01/27		3,131
	5,645,000		City & County of Honolulu HI	3.974		09/01/35		6,245
	1,615,000		City & County of Honolulu HI	4.004		09/01/36		1,784
	7,085,000		City & County of San Francisco CA	4.000		04/01/47		7,537
	5,500,000		City & County of San Francisco CA	4.000		09/01/48		5,824
	2,750,000		City of Austin TX Water & Wastewater System Revenue	2.133		11/15/19		2,750
	5,395,000		City of Chicago IL	7.750		01/01/42		6,940
	1,105,000		City of Chicago IL	7.750		01/01/42		1,273
	7,280,000		City of Cincinnati OH Water System Revenue	2.568		12/01/21		7,396
	380,000		City of Eugene, OR	6.320		08/01/22		411
	1,250,000		City of Florence SC	4.250		12/01/34		1,352
	1,000,000		City of Houston TX Combined Utility System Revenue	3.375		11/15/24		1,071
	1,275,000		City of Houston TX Combined Utility System Revenue	4.172		11/15/38		1,406
	12,500,000		City of Houston TX Utility System Revenue	2.563		05/15/20		12,550
	5,145,000		City of Los Angeles CA	3.320		09/01/24		5,489
	7,500,000		City of Los Angeles CA	3.880		09/01/38		8,115
	1,780,000	g	City of Miami FL	4.808		01/01/39		2,011
	3,010,000		City of Norfolk VA	3.000		10/01/35		3,003
	3,665,000		City of Norfolk VA	3.050		10/01/36		3,655
	3,345,000		City of San Francisco CA Public Utilities Commission Water Revenue	3.000		11/01/26		3,539
	3,725,000		City of San Francisco CA Public Utilities Commission Water Revenue	3.950		11/01/36		4,030
	18,500,000		City of San Francisco CA Public Utilities Commission Water Revenue	4.185		11/01/46		19,825
	1,000,000		City of San Juan Capistrano CA	3.700		08/01/31		1,072
	1,000,000		Commonwealth Financing Authority	2.675		06/01/21		1,010
	1,150,000		Commonwealth Financing Authority	2.875		06/01/22		1,173
	2,310,000		Commonwealth Financing Authority	3.075		06/01/23		2,381

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	2,730,000		Commonwealth Financing Authority		3.864	%	06/01/38	$	3,035
	11,650,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%	2.500		05/15/49		11,681
	7,650,000		County of Alameda CA		3.820		08/01/38		8,291
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,498
	995,000		County of Saline AR		3.550		06/01/42		1,040
	15,000,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		21,163
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,100
	1,250,000		Grant County Public Utility District No 2		4.164		01/01/35		1,424
	4,135,000		Greene County OH		2.720		12/01/21		4,138
	4,365,000		Greene County OH		3.120		12/01/23		4,369
	4,615,000		Greene County OH		3.270		12/01/24		4,620
	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		1,547
	795,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		815
	640,000		Henry County Water Authority		3.000		01/01/43		620
	850,000		Henry County Water Authority		3.200		01/01/49		827
	2,000,000		Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,276
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		571
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,818
	3,540,000		Maryland Community Development Administration Housing Revenue		3.797		03/01/39		3,702
	140,000		Massachusetts Housing Finance Agency		4.782		12/01/20		142
	4,650,000		Massachusetts St. Water Pollution Abatement		5.192		08/01/40		5,509
	3,500,000		Metropolitan Council		1.750		09/01/20		3,495
	500,000		Michigan Finance Authority		5.000		07/01/22		540
	2,000,000		Michigan Finance Authority		5.000		07/01/31		2,308
	8,500,000		New Jersey Economic Development Authority		4.271		06/15/20		8,607
	7,400,000		New Jersey Economic Development Authority		5.706		06/15/30		9,007
	3,000,000		New Jersey Economic Development Authority		5.756		06/15/31		3,679
	3,375,000		New Mexico Finance Authority		4.090		06/15/38		3,664
	2,500,000		New York City Housing Development Corp		3.720		11/01/39		2,650
	1,285,000		New York State Energy Research & Development Authority		2.772		07/01/20		1,293
	1,590,000		New York State Energy Research & Development Authority		3.206		07/01/22		1,648
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,317
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,305
	2,120,000		New York State Environmental Facilities Corp		3.520		07/15/27		2,323
	17,500,000		New York Transportation Development Corp		5.000		01/01/26		20,625
	4,750,000		Northern California Power Agency		4.320		07/01/24		5,200
	11,245,000		Ohio State Water Development Authority		4.879		12/01/34		13,418
	700,000		Oklahoma Water Resources Board		3.071		04/01/22		721
	13,250,000	g	Oregon State Business Development Commission		6.500		04/01/31		12,494
	2,500,000		Palm Beach County Solid Waste Authority		2.636		10/01/24		2,585
	5,500,000		Papio-Missouri River Natural Resource District		2.088		12/15/24		5,517
	1,070,000		Pend Oreille County Public Utility District No Box Canyon		3.621		01/01/21		1,078
	4,500,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/30		4,752
	180,000	g	Pennsylvania Economic Development Financing Authority		5.750		06/01/36		192
	1,735,000	g	Public Finance Authority		9.000		06/01/29		1,745
	1,000,000		Sacramento Area Flood Control Agency		2.699		10/01/22		1,016

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	435,000		San Francisco City & County Redevelopment Agency		3.113	%	08/01/22	$	448
	2,000,000		San Francisco City & County Redevelopment Agency		4.375		08/01/44		2,188
	38,330,000		State of California		3.750		10/01/37		41,154
	11,565,000		State of California		4.600		04/01/38		12,886
	10,050,000		State of California		4.988		04/01/39		11,044
	2,000,000		State of California		2.193		04/01/47		2,000
	5,445,000	i	State of California	LIBOR 1 M + 0.780%	2.862		04/01/47		5,460
	9,800,000		State of Illinois		5.000		02/01/20		9,894
	8,000,000		State of Illinois		5.000		02/01/22		8,491
	9,000,000		State of Illinois		5.520		04/01/38		9,913
	1,500,000		State of Louisiana		1.769		08/01/20		1,497
	4,505,000		State of Michigan		3.375		12/01/20		4,581
	4,405,000		State of Michigan		3.590		12/01/26		4,613
	2,500,000		State of Ohio		5.412		09/01/28		3,148
	2,500,000		State of Texas		2.749		10/01/23		2,595
	5,000,000		State of Texas		6.072		10/01/29		5,000
	2,025,000		State of Texas		3.576		08/01/34		2,101
	3,370,000		State of Texas		3.726		08/01/43		3,498
	3,000		State of Wisconsin		5.700		05/01/26		3
	1,650,000		Syracuse Industrial Development Agency		5.000		01/01/36		1,702
	2,280,000		Tampa Bay Water		2.612		10/01/25		2,340
	3,225,000		Tampa Bay Water		2.782		10/01/26		3,328
	3,000,000		Tampa Bay Water		2.952		10/01/27		3,108
	1,255,000		Texas Water Development Board		4.248		10/15/35		1,371
	5,880,000		Texas Water Development Board		4.340		10/15/48		6,404
	4,170,000		Texas Water Development Board		4.648		04/15/50		4,556
	5,000,000		Tuolumne Wind Project Authority		6.918		01/01/34		6,722
	3,035,000		University of California		3.809		05/15/28		3,377
	11,400,000		University of California		4.009		05/15/30		13,016
	1,000,000		University of Cincinnati		3.250		06/01/29		1,061
	1,560,000		University of Cincinnati		3.650		06/01/34		1,651
	1,615,000		University of Cincinnati		3.700		06/01/35		1,712
	18,000,000		University of New Mexico		3.532		06/20/32		19,130
	5,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/42		5,421
	3,000,000		Vermont Educational & Health Buildings Financing Agency		4.000		12/01/46		3,238
	1,000,000		Washington County Clean Water Services		5.078		10/01/24		1,138
	3,750,000		Water Works Board of the City of Birmingham		1.988		01/01/21		3,749
	3,100,000		Water Works Board of the City of Birmingham		2.192		01/01/22		3,116
	600,000		West Virginia Water Development Authority		5.000		11/01/21		644
	1,345,000		West Virginia Water Development Authority		5.000		11/01/22		1,488
	1,000,000		West Virginia Water Development Authority		5.000		11/01/23		1,139
			TOTAL MUNICIPAL BONDS						605,693
U.S. TREASURY SECURITIES - 3.0%
	6,000,000		United States Treasury Bond		3.125		02/15/43		7,161
	1,000,000		United States Treasury Bond		3.375		05/15/44		1,246
	35,830,000		United States Treasury Bond		2.875		11/15/46		41,490
	20,344,800	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		20,606
	5,785,000		United States Treasury Note		1.375		05/31/21		5,753
	4,150,000		United States Treasury Note		2.000		07/31/22		4,198
	39,290,000		United States Treasury Note		1.500		09/15/22		39,218

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	4,500,000		United States Treasury Note		1.750	%	09/30/22	$	4,523
	12,234,500		United States Treasury Note		1.625		11/15/22		12,253
	31,765,000		United States Treasury Note		2.875		09/30/23		33,364
	6,100,000		United States Treasury Note		2.625		12/31/23		6,364
	76,111,000		United States Treasury Note		1.500		09/30/24		75,929
	1,525,000		United States Treasury Note		2.250		10/31/24		1,575
	9,350,000		United States Treasury Note		2.125		11/30/24		9,604
	5,550,000		United States Treasury Note		2.750		06/30/25		5,899
	18,842,000		United States Treasury Note		2.500		02/28/26		19,854
	10,535,000		United States Treasury Note		1.875		07/31/26		10,709
	12,100,000		United States Treasury Note		1.625		09/30/26		12,102
	26,037,000		United States Treasury Note		1.625		08/15/29		25,924
	2,500,000		United States Treasury Note		3.000		02/15/49		2,983
	79,776,000		United States Treasury Note		2.875		05/15/49		93,120
			TOTAL U.S. TREASURY SECURITIES						433,875
			TOTAL GOVERNMENT BONDS						2,869,309
			(Cost $2,759,250)
STRUCTURED ASSETS - 4.1%
ASSET BACKED - 1.5%
	5,000,000	g,i	AREIT Trust	LIBOR 1 M + 1.020%	3.048		09/14/36		5,000
			Series - 2019 CRE3 (Class A)
	215,319	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 0.900%	3.386		08/25/34		214
			Series - 2004 HE5 (Class M1)
	1,500,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.650%	2.694		02/28/41		1,484
			Series - 2006 A (Class M3)
	100,000	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 0.670%	2.688		04/25/36		100
			Series - 2006 SD1 (Class M1)
	3,845,886	g	Capital Automotive REIT		3.660		10/15/44		3,852
			Series - 2014 1A (Class A)
	3,793,305	g	Capital Automotive REIT		3.870		04/15/47		3,829
			Series - 2017 1A (Class A1)
	622,663	i	C-BASS Trust	LIBOR 1 M + 0.080%	2.098		07/25/36		616
			Series - 2006 CB6 (Class A1)
	4,001,302	i	Chase Funding Loan Acquisition Trust	LIBOR 1 M + 0.855%	2.873		06/25/34		3,956
			Series - 2004 OPT1 (Class M1)
	325,000	i	Citigroup Mortgage Loan Trust, Inc	LIBOR 1 M + 0.750%	2.768		01/25/36		324
			Series - 2006 WFH1 (Class M4)
	2,947,500	g	DB Master Finance LLC		3.629		11/20/47		3,018
			Series - 2017 1A (Class A2I)
	870,750	g	Domino’s Pizza Master Issuer LLC		4.474		10/25/45		912
			Series - 2015 1A (Class A2II)
	11,858,000	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		11,898
			Series - 2017 1A (Class A2II)
	1,580,000	g	Domino’s Pizza Master Issuer LLC		4.116		07/25/48		1,640
			Series - 2018 1A (Class A2I)
	401,029	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%	3.118		05/25/37		404
			Series - 2007 2 (Class A2C)
	6,580,643	g	HERO Funding Trust		3.840		09/21/40		6,739
			Series - 2015 1A (Class A)
	1,580,590	g	HERO Funding Trust		3.990		09/21/40		1,647
			Series - 2014 2A (Class A)

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	3,226,748	g	HERO Funding Trust		3.750	%	09/20/41	$	3,337
			Series - 2016 2A (Class A)
	3,093,437	g	HERO Funding Trust		4.050		09/20/41		3,230
			Series - 2016 1A (Class A)
	1,186,848	g	HERO Funding Trust		3.080		09/20/42		1,206
			Series - 2016 3A (Class A1)
	403,566	g	HERO Funding Trust		4.500		09/21/42		409
			Series - 2016 1R (Class A1)
	7,868,541	g	HERO Funding Trust		3.710		09/20/47		8,188
			Series - 2017 1A (Class A1)
	8,289,911	g	HERO Funding Trust		3.190		09/20/48		8,462
			Series - 2017 3A (Class A1)
	1,959,009	g	HERO Funding Trust		3.280		09/20/48		1,976
			Series - 2017 2A (Class A1)
	9,122,806	g	HERO Funding Trust		4.670		09/20/48		9,638
			Series - 2018 1A (Class A2)
	34,991	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%	3.986		06/25/33		35
			Series - 2003 1 (Class M1)
	1,750,000	g	Houston Galleria Mall Trust		3.087		03/05/37		1,813
			Series - 2015 HGLR (Class A1A2)
	499,336	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.320%	2.338		03/25/37		489
			Series - 2007 CH3 (Class A1B)
	8,589,673	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%	2.178		06/25/37		8,467
			Series - 2007 CH5 (Class A1)
	40,522	i	Morgan Stanley ABS Capital I, Inc Trust	LIBOR 1 M + 0.825%	2.843		08/25/34		40
			Series - 2004 HE6 (Class M1)
	6,522,628	g	Mosaic Solar Loans LLC		3.820		06/22/43		6,662
			Series - 2017 2A (Class A)
	1,852,875	g	MVW Owner Trust		2.420		12/20/34		1,856
			Series - 2017 1A (Class A)
	3,064,043	g,i	Navient Student Loan Trust	LIBOR 1 M + 0.250%	2.268		06/27/67		3,061
			Series - 2018 4A (Class A1)
	1,200,000	g	Progress Residential Trust		2.897		12/17/34		1,208
			Series - 2017 SFR2 (Class A)
	650,000	i	RASC Trust	LIBOR 1 M + 0.590%	3.080		08/25/35		651
			Series - 2005 KS8 (Class M4)
	4,397,500	g	Renew		3.670		09/20/52		4,563
			Series - 2017 1A (Class A)
	9,955,335	g	Renew		3.950		09/20/53		10,405
			Series - 2018 1 (Class A)
	307,621	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		307
			Series - 2015 3A (Class A)
	217,656	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		218
			Series - 2015 3A (Class B)
	4,642,584	g	SolarCity LMC		4.590		04/20/44		4,740
			Series - 2014 1 (Class A)
	22,960,666	g	SolarCity LMC		4.020		07/20/44		23,180
			Series - 2014 2 (Class A)
	3,971,775	g	SolarCity LMC		4.800		09/20/48		4,126
			Series - 2016 A (Class A)
	26,050	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%	2.918		09/25/34		26
			Series - 2004 8 (Class M1)
	73,591	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%	3.018		09/25/34		74
			Series - 2004 8 (Class A9)

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	2,362,926	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%	3.600	%	04/25/35	$	2,343
			Series - 2005 7XS (Class 2A1A)
	2,918,505	g	Sunrun Athena Issuer LLC		5.310		04/30/49		3,201
			Series - 2018 1 (Class A)
	11,686,305	g	TES LLC		4.330		10/20/47		11,909
			Series - 2017 1A (Class A)
	2,500,000	g	TES LLC		7.740		10/20/47		2,484
			Series - 2017 1A (Class B)
	7,712,088	g	TES LLC		4.120		02/20/48		7,885
			Series - 2017 2A (Class A)
	568,909	g	Tesla Auto Lease Trust		2.320		12/20/19		569
			Series - 2018 A (Class A)
	13,952,264	g	Tesla Auto Lease Trust		3.710		08/20/21		14,177
			Series - 2018 B (Class A)
	997,491	g	Tricon American Homes Trust		2.928		01/17/36		1,011
			Series - 2017 SFR2 (Class A)
	14,821,390	g	Vivint Colar Financing V LLC		4.730		04/30/48		15,773
			Series - 2018 1A (Class A)
	6,393	g,i	Wachovia Loan Trust	LIBOR 1 M + 0.360%	2.378		05/25/35		6
			Series - 2005 SD1 (Class A)
	2,947,500	g	Wendys Funding LLC		3.573		03/15/48		2,994
			Series - 2018 1A (Class A2I)
			TOTAL ASSET BACKED						216,352
OTHER MORTGAGE BACKED - 2.6%
	2,015,000	g,i	20 Times Square Trust		3.203		05/15/35		2,067
			Series - 2018 20TS (Class B)
	1,244,370	g,i	Agate Bay Mortgage Trust		3.500		11/25/44		1,251
			Series - 2014 3 (Class A13)
	615,196	g,i	Agate Bay Mortgage Trust		3.500		09/25/45		613
			Series - 2015 6 (Class A9)
	259,702	i	Alternative Loan Trust	LIBOR 1 M + 0.500%	2.518		06/25/34		264
			Series - 2004 8CB (Class M1)
	4,598,903	g,i	Bancorp Commercial Mortgage Trust	LIBOR 1 M + 0.900%	2.928		09/15/35		4,599
			Series - 2018 CRE4 (Class A)
	12,500,000	g	BBCMS Trust		3.593		09/15/32		12,920
			Series - 2015 MSQ (Class A)
	6,000,000	g	BBCMS Trust		3.894		09/15/32		6,201
			Series - 2015 MSQ (Class B)
	5,440,000	g,i	BBCMS Trust		4.409		08/05/38		5,070
			Series - 2018 CHRS (Class E)
	2,000,000		BENCHMARK Mortgage Trust		3.419		08/15/52		2,119
			Series - 2019 B12 (Class AS)
	12,870,000	g,i	BENCHMARK Mortgage Trust		4.030		03/15/62		13,663
			Series - 2019 B10 (Class 3CCA)
	2,000,000	i	CD Mortgage Trust		3.879		11/10/49		2,136
			Series - 2016 CD2 (Class B)
	2,000,000	i	Citigroup Commercial Mortgage Trust		4.280		04/10/48		2,112
			Series - 2015 GC29 (Class C)
	10,000,000		Citigroup Commercial Mortgage Trust		3.018		08/10/56		10,267
			Series - 2019 GC41 (Class AS)
	3,000,000	g,i	Cityline Commercial Mortgage Trust		2.871		11/10/31		3,074
			Series - 2016 CLNE (Class A)

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	3,000,000	g	COMM Mortgage Trust		2.681	%	08/10/29	$	3,016
			Series - 2016 GCT (Class A)
	2,750,000	g,i	COMM Mortgage Trust		3.528		10/10/29		2,878
			Series - 2017 PANW (Class B)
	7,500,000	g,i	COMM Mortgage Trust		3.712		10/10/29		7,786
			Series - 2017 PANW (Class C)
	8,811,000	g	COMM Mortgage Trust		3.544		03/10/31		9,238
			Series - 2013 WWP (Class C)
	925,000	g,i	COMM Mortgage Trust		4.949		08/10/46		998
			Series - 2013 CR10 (Class B)
	2,000,000		COMM Mortgage Trust		4.701		03/10/47		2,135
			Series - 2014 UBS2 (Class B)
	3,500,000	g,i	COMM Mortgage Trust		4.254		03/10/48		3,485
			Series - 2015 CR22 (Class D)
	4,000,000	i	COMM Mortgage Trust		4.392		05/10/48		4,030
			Series - 2015 CR23 (Class D)
	1,525,000	i	COMM Mortgage Trust		4.392		05/10/48		1,625
			Series - 2015 CR23 (Class C)
	2,500,000	i	COMM Mortgage Trust		3.463		08/10/48		2,345
			Series - 2015 CR24 (Class D)
	3,258,744	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%	4.618		05/25/24		3,398
			Series - 2014 C02 (Class 1M2)
	8,021,124	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%	5.018		07/25/24		8,422
			Series - 2014 C03 (Class 1M2)
	1,693,572	i	Connecticut Avenue Securities	LIBOR 1 M + 5.000%	7.018		11/25/24		1,811
			Series - 2014 C04 (Class 2M2)
	5,000,000	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%	6.268		01/25/29		5,281
			Series - 2016 C04 (Class 1M2)
	2,076,655	i	Connecticut Avenue Securities	LIBOR 1 M + 4.450%	6.468		01/25/29		2,186
			Series - 2016 C05 (Class 2M2)
	1,650,000	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%	6.268		04/25/29		1,764
			Series - 2016 C06 (Class 1M2)
	376,054	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%	2.868		11/25/29		376
			Series - 2017 C04 (Class 2M1)
	5,150,000	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%	4.218		01/25/30		5,207
			Series - 2017 C05 (Class 1M2A)
	17,976	i	Connecticut Avenue Securities	LIBOR 1 M + 0.600%	2.618		07/25/30		18
			Series - 2018 C01 (Class 1M1)
	355,266	i	Connecticut Avenue Securities	LIBOR 1 M + 0.680%	2.698		10/25/30		355
			Series - 2018 C03 (Class 1M1)
	2,850,000	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%	2.868		10/25/30		2,855
			Series - 2018 C03 (Class 1EA2)
	330,220	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%	2.868		07/25/31		330
			Series - 2019 R01 (Class 2M1)
	505,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.450%	4.468		07/25/31		509
			Series - 2019 R01 (Class 2M2)
	8,458,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.150%	4.168		09/25/31		8,498
			Series - 2019 R03 (Class 1M2)
	6,650,000	g,i	CSAIL Commercial Mortgage Trust		3.800		06/15/37		7,126
			Series - 2017 C8 (Class 85BA)
	8,750,000	g,i	CSAIL Commercial Mortgage Trust		3.800		06/15/37		9,306
			Series - 2017 C8 (Class 85BB)
	5,000,000	g,i	CSMC Trust		3.854		11/10/32		5,303
			Series - 2017 CALI (Class B)

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	825,000	g,i	CSMC Trust	LIBOR 1 M + 0.650%	2.668	%	05/25/36	$	823
			Series - 2006 CF2 (Class M3)
	5,095,085	g,i	CSMC Trust		3.500		02/25/48		5,109
			Series - 2018 J1 (Class A11)
	1,715,000	g,i	DBUBS Mortgage Trust		5.885		11/10/46		1,774
			Series - 2011 LC1A (Class C)
	904,607	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%	2.753		12/25/35		901
			Series - 2005 2 (Class M2)
	3,585,530	g,i	FirstKey Mortgage Trust		3.500		11/25/44		3,615
			Series - 2014 1 (Class A8)
	1,065,822	g,i	Flagstar Mortgage Trust		4.000		09/25/48		1,073
			Series - 2018 5 (Class A11)
	2,857,160	i	GMAC Commercial Mortgage Securities, Inc		4.984		12/10/41		2,856
			Series - 2004 C3 (Class C)
	10,000,000	g	GRACE Mortgage Trust		3.369		06/10/28		10,153
			Series - 2014 GRCE (Class A)
	3,000,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.090%	3.118		10/15/31		2,999
			Series - 2018 HART (Class A)
	2,535,000	g,i	GS Mortgage Securities Trust		5.353		12/10/43		2,611
			Series - 2010 C2 (Class B)
	3,000,000		GS Mortgage Securities Trust		3.143		10/10/49		3,090
			Series - 2016 GS3 (Class AS)
	830,000	i	GS Mortgage Securities Trust		3.921		11/10/49		856
			Series - 2016 GS4 (Class C)
	2,000,000	g	GS Mortgage Securities Trust		3.000		02/10/52		1,854
			Series - 2019 GC38 (Class D)
	1,372,327	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%	2.677		08/19/45		1,368
			Series - 2005 11 (Class 2A1A)
	6,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		6,176
			Series - 2016 10HY (Class A)
	5,000,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		5,145
			Series - 2016 10HY (Class B)
	5,000,000	g,i	Hudson Yards Mortgage Trust		3.076		08/10/38		5,088
			Series - 2016 10HY (Class C)
	284,612	i	Impac CMB Trust	LIBOR 1 M + 0.660%	2.678		03/25/35		285
			Series - 2004 11 (Class 2A1)
	3,025,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.582		07/15/46		3,159
			Series - 2011 C4 (Class C)
	1,687,403	g,i	JP Morgan Mortgage Trust		3.589		12/25/44		1,681
			Series - 2015 1 (Class B1)
	535,466	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		534
			Series - 2015 3 (Class A19)
	1,940,710	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		1,941
			Series - 2015 6 (Class A13)
	1,117,275	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		1,114
			Series - 2016 1 (Class A13)
	159,058	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		161
			Series - 2017 1 (Class A3)
	4,353,684	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		4,411
			Series - 2017 2 (Class A5)
	1,265,260	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		1,266
			Series - 2017 2 (Class A13)
	1,978,248	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		2,000
			Series - 2017 3 (Class 1A5)

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	267,441	g,i	JP Morgan Mortgage Trust		3.500	%	09/25/48	$	281
			Series - 2018 3 (Class A13)
	87,655	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		92
			Series - 2018 4 (Class A13)
	351,333	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		369
			Series - 2018 5 (Class A13)
	264,497	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		266
			Series - 2018 8 (Class A5)
	1,301,319	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		1,327
			Series - 2018 8 (Class A13)
	2,729,734	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		2,764
			Series - 2018 9 (Class A13)
	2,962,848	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		3,021
			Series - 2019 1 (Class A15)
	10,000,000	g	Liberty Street Trust		3.597		02/10/36		10,735
			Series - 2016 225L (Class A)
	4,000,000	g,i	MAD Mortgage Trust		3.478		08/15/34		4,116
			Series - 2017 330M (Class B)
	21,000,000	g	Morgan Stanley Capital I Trust		3.350		07/13/29		21,367
			Series - 2014 CPT (Class A)
	2,000,000	g,i	Morgan Stanley Capital I Trust		3.560		07/13/29		2,020
			Series - 2014 CPT (Class E)
	52,727	i	Morgan Stanley Capital I Trust		6.394		10/15/42		53
			Series - 2006 IQ11 (Class AJ)
	265,820	†,i	Morgan Stanley Capital I Trust		6.459		12/12/49		165
			Series - 2007 IQ16 (Class AJFX)
	5,000,000	g,i	MSDB Trust		3.427		07/11/39		5,260
			Series - 2017 712F (Class A)
	1,050,000	g,i	Natixis Commercial Mortgage Securities Trust		3.917		11/15/32		1,082
			Series - 2018 285M (Class C)
	15,780,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 0.784%	2.811		07/15/33		15,785
			Series - 2018 850T (Class A)
	150,997	i	New York Mortgage Trust	LIBOR 1 M + 0.480%	2.498		02/25/36		151
			Series - 2005 3 (Class A1)
	15,000,000	g	One Bryant Park Trust		2.516		09/13/49		15,079
			Series - 2019 OBP (Class A)
	3,900,000	g	One Market Plaza Trust		3.614		02/10/32		4,040
			Series - 2017 1MKT (Class A)
	2,250,642	g,i	Sequoia Mortgage Trust		3.500		05/25/45		2,291
			Series - 2015 2 (Class A1)
	990,454	g,i	Sequoia Mortgage Trust		3.500		06/25/46		1,002
			Series - 2016 1 (Class A19)
	380,178	g,i	Sequoia Mortgage Trust		3.500		11/25/46		387
			Series - 2016 3 (Class A10)
	2,384,103	g,i	Sequoia Mortgage Trust		3.500		04/25/47		2,395
			Series - 2017 3 (Class A19)
	738,242	g,i	Sequoia Mortgage Trust		3.761		09/25/47		769
			Series - 2017 6 (Class B1)
	860,330	g,i	Sequoia Mortgage Trust		3.500		02/25/48		874
			Series - 2018 2 (Class A1)
	688,264	g,i	Sequoia Mortgage Trust		3.500		02/25/48		691
			Series - 2018 2 (Class A19)

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE		MATURITY DATE	VALUE (000)
$	602,414	g,i	Sequoia Mortgage Trust		4.000	%	09/25/48	$	608
			Series - 2018 7 (Class A4)
	248,421	g,i	Sequoia Mortgage Trust		4.000		09/25/48		252
			Series - 2018 7 (Class A19)
	73,941	g,i	Sequoia Mortgage Trust		4.000		11/25/48		75
			Series - 2018 8 (Class A19)
	3,395,815	g,i	Sequoia Mortgage Trust		4.000		06/25/49		3,475
			Series - 2019 2 (Class A1)
	864,956	g,i	Sequoia Mortgage Trust		4.000		06/25/49		883
			Series - 2019 2 (Class A19)
	471,078	g,i	Shellpoint Co-Originator Trust		3.500		11/25/46		475
			Series - 2016 1 (Class 1A10)
	3,634,805	g,i	Shellpoint Co-Originator Trust		3.500		10/25/47		3,664
			Series - 2017 2 (Class A1)
	1,144,865	g,i	Spruce Hill Mortgage Loan Trust		3.395		04/29/49		1,152
			Series - 2019 SH1 (Class A1)
	596,422	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 3.800%	5.818		03/25/25		614
			Series - 2015 HQ1 (Class M3)
	1,345,476	i	STACR	LIBOR 1 M + 1.350%	3.368		03/25/29		1,351
			Series - 2016 HQA3 (Class M2)
	157,460	i	STACR	LIBOR 1 M + 1.200%	3.218		07/25/29		158
			Series - 2017 DNA1 (Class M1)
	350,000	i	STACR	LIBOR 1 M + 3.250%	5.268		07/25/29		367
			Series - 2017 DNA1 (Class M2)
	3,518,499	i	STACR	LIBOR 1 M + 1.200%	3.218		10/25/29		3,530
			Series - 2017 DNA2 (Class M1)
	939,736	i	STACR	LIBOR 1 M + 0.750%	2.768		03/25/30		940
			Series - 2017 DNA3 (Class M1)
	3,929,016	i	STACR	LIBOR 1 M + 0.950%	2.968		04/25/30		3,933
			Series - 2017 HQA3 (Class M2AS)
	292,557	g,i	STACR		3.740		02/25/48		294
			Series - 2018 SPI1 (Class M1)
	1,426,521	g,i	STACR		3.817		05/25/48		1,430
			Series - 2018 SPI2 (Class M1)
	1,132,988	g,i	STACR		4.160		08/25/48		1,141
			Series - 2018 SPI3 (Class M1)
	510,000	g,i	STACR		4.459		11/25/48		514
			Series - 2018 SPI4 (Class M2)
	286,087	i	Wachovia Bank Commercial Mortgage Trust		6.286		05/15/46		289
			Series - 2007 C34 (Class AJ)
	3,000,000	i	Wachovia Bank Commercial Mortgage Trust		6.361		05/15/46		3,029
			Series - 2007 C34 (Class B)
	1,650,000	i	Wachovia Bank Commercial Mortgage Trust		6.361		05/15/46		1,671
			Series - 2007 C34 (Class C)
	1,905,025	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		1,940
			Series - 2019 2 (Class A17)
			TOTAL OTHER MORTGAGE BACKED						366,847
			TOTAL STRUCTURED ASSETS						583,199
			(Cost $570,539)
			TOTAL BONDS						5,637,923
			(Cost $5,390,655)

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 59.6%
AUTOMOBILES & COMPONENTS - 0.8%
	25,123	*	American Axle & Manufacturing Holdings, Inc	$	206
	71,684		Aptiv plc		6,267
	562	e	Autoliv, Inc		44
	154,570		Bayerische Motoren Werke AG.		10,886
	3,491		BorgWarner, Inc		128
	220,582		Denso Corp		9,747
	97,691		Harley-Davidson, Inc		3,514
	508,180		Honda Motor Co Ltd		13,306
	163,362		Magna International, Inc		8,708
	56,903		Michelin (C.G.D.E.) (Class B)		6,336
	7,033	*	Modine Manufacturing Co		80
	378,536		Peugeot S.A.		9,448
	155,374		Renault S.A.		8,917
	51,182	*,e	Tesla, Inc		12,328
	448,500	e	Toyota Motor Corp		30,121
	40,640		Valeo S.A.		1,317
	334	*	Visteon Corp		28
			TOTAL AUTOMOBILES & COMPONENTS		121,381
BANKS - 4.1%
	20,740		Ameris Bancorp		835
	24,817		Associated Banc-Corp		503
	849,371		Australia & New Zealand Banking Group Ltd		16,316
	5,953,458		Banca Intesa S.p.A.		14,103
	2,060		Bancfirst Corp		114
	2,407,997		Banco Bilbao Vizcaya Argentaria S.A.		12,535
	977,707	*	Bank Hapoalim Ltd		7,704
	841,607		Bank Leumi Le-Israel		5,992
	1,030		Bank of Hawaii Corp		88
	174,230		Bank of Montreal		12,833
	317,885		Bank of Nova Scotia		18,056
	60,679		Bank OZK		1,655
	3,730		BankUnited		125
	2,405		Banner Corp		135
	473,576		BB&T Corp		25,275
	356	e	Bendigo Bank Ltd		3
	25,572		Berkshire Hills Bancorp, Inc		749
	2,757,500		BOC Hong Kong Holdings Ltd		9,357
	900		BOK Financial Corp		71
	6,533		Brookline Bancorp, Inc		96
	8,589		Bryn Mawr Bank Corp		314
	10,067		Cadence BanCorp		177
	2,763,783		CaixaBank S.A.		7,249
	19,106		Camden National Corp		828
	79,444	e	Canadian Imperial Bank of Commerce		6,555
	868,544		Citigroup, Inc		59,999
	548,232		Citizens Financial Group, Inc		19,391
	2,120		Columbia Banking System, Inc		78
	155,774		Comerica, Inc		10,280
	679	e	Commerce Bancshares, Inc		41

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	419,299		Commonwealth Bank of Australia	$	22,872
	889		Community Trust Bancorp, Inc		38
	9,015	e	Cullen/Frost Bankers, Inc		798
	67,309	*,e	Customers Bancorp, Inc		1,396
	648,293		DBS Group Holdings Ltd		11,728
	14,324		Federal Agricultural Mortgage Corp (Class C)		1,170
	334,249		Fifth Third Bancorp		9,152
	21,395		First Commonwealth Financial Corp		284
	6,726		First Financial Bancorp		165
	9,862	e	First Financial Bankshares, Inc		329
	1,399		First Financial Corp		61
	290		First Interstate Bancsystem, Inc		12
	3,952		First Merchants Corp		149
	52,717		First Republic Bank		5,098
	2,590		Glacier Bancorp, Inc		105
	5,441		Hancock Holding Co		208
	476,800		Hang Seng Bank Ltd		10,274
	5,924		Hanmi Financial Corp		111
	16,503		Heartland Financial USA, Inc		738
	9,347		Heritage Financial Corp		252
	24,702	*	HomeStreet, Inc		675
	21,937		HomeTrust Bancshares, Inc		572
	248,425		Huntington Bancshares, Inc		3,545
	6,451		Independent Bank Corp (MA)		482
	1,029,939		ING Groep NV		10,759
	1,147		International Bancshares Corp		44
	125,286		KBC Groep NV		8,137
	839,121		Keycorp		14,970
	2,791	e	Live Oak Bancshares, Inc		51
	118,876		M&T Bank Corp		18,779
	212,400		Mitsui Trust Holdings, Inc		7,691
	97,776		Mizrahi Tefahot Bank Ltd		2,430
	825,235		National Australia Bank Ltd		16,546
	15,790		National Bank Holdings Corp		540
	7,259		National Bank of Canada		361
	3,324		NBT Bancorp, Inc		122
	43,621	e	New York Community Bancorp, Inc		547
	54,855		Northfield Bancorp, Inc		881
	1,532		OceanFirst Financial Corp		36
	59,142		OFG Bancorp		1,295
	9,051		Old National Bancorp		156
	15,649		Opus Bank		341
	14,998	e	People’s United Financial, Inc		234
	40,512		Pinnacle Financial Partners, Inc		2,299
	288,199		PNC Financial Services Group, Inc		40,394
	46,716		Popular, Inc		2,526
	820	e	Prosperity Bancshares, Inc		58
	929,477		Regions Financial Corp		14,704
	993,900	e	Resona Holdings, Inc		4,277
	590,050		Skandinaviska Enskilda Banken AB (Class A)		5,422
	1,368,209		Standard Chartered plc		11,485
	8,646		Stock Yards Bancorp, Inc		317
	431,800	e	Sumitomo Mitsui Financial Group, Inc		14,838
	15,934	*	SVB Financial Group		3,329

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	607,817		Svenska Handelsbanken AB	$	5,686
	558,840		Swedbank AB (A Shares)		8,048
	18,341	*	Texas Capital Bancshares, Inc		1,002
	6,965		TFS Financial Corp		125
	50,351	*	The Bancorp, Inc		498
	422,826		Toronto-Dominion Bank		24,654
	2,462		Trico Bancshares		89
	17,930	*	Tristate Capital Holdings, Inc		377
	1,700		Trustmark Corp		58
	5,827		Umpqua Holdings Corp		96
	5,260		Univest Corp of Pennsylvania		134
	823,363		US Bancorp		45,565
	14,406		Webster Financial Corp		675
	3,410	e	WesBanco, Inc		127
	3,019	e	Westamerica Bancorporation		188
	28,038		Western Alliance Bancorp		1,292
	939,532		Westpac Banking Corp		18,765
	1,110		Wintrust Financial Corp		72
	1,706		WSFS Financial Corp		75
	55,295	e	Zions Bancorporation		2,462
			TOTAL BANKS		595,228
CAPITAL GOODS - 4.3%
	235,862		3M Co		38,776
	641,032		ABB Ltd		12,606
	881		Acuity Brands, Inc		119
	5,516	*	Aegion Corp		118
	7,218		Air Lease Corp		302
	25,858		Aircastle Ltd		580
	429		Allegion plc		44
	24,716		Argan, Inc		971
	18,548	*	Armstrong Flooring, Inc		119
	456		Armstrong World Industries, Inc		44
	167,764		Assa Abloy AB		3,730
	42,523	*	Astronics Corp		1,249
	251,949		Atlas Copco AB (A Shares)		7,758
	246,749		Atlas Copco AB (B Shares)		6,682
	75,623	*	Axon Enterprise, Inc		4,294
	68,269		Barnes Group, Inc		3,519
	2,120	*,e	Beacon Roofing Supply, Inc		71
	54,799		Brenntag AG.		2,650
	48,906		Briggs & Stratton Corp		296
	73,289	*	Builders FirstSource, Inc		1,508
	55,887		CAE, Inc		1,420
	17,830		Carlisle Cos, Inc		2,595
	246,638		Caterpillar, Inc		31,153
	8,245	*	Chart Industries, Inc		514
	819,840		CNH Industrial NV		8,349
	50,713		Cummins, Inc		8,250
	89,304		Curtiss-Wright Corp		11,553
	5,900	e	Daifuku Co Ltd		307
	89,000		Daikin Industries Ltd		11,738
	95,083		DCC plc		8,293

398

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	134,745		Deere & Co	$	22,729
	888		Donaldson Co, Inc		46
	7,425		Dover Corp		739
	243,475		Eaton Corp		20,245
	14,474		Eiffage S.A.		1,500
	4,718		EMCOR Group, Inc		406
	202,954		Fastenal Co		6,631
	72,856		Ferguson plc		5,317
	978		Flowserve Corp		46
	124,937		Fortive Corp		8,566
	856		Fortune Brands Home & Security, Inc		47
	78,588	e	HEICO Corp		9,814
	156,825		HEICO Corp (Class A)		15,261
	27,784	*	Herc Holdings, Inc		1,292
	99,540		Hexcel Corp		8,175
	97,900	e	Hitachi Construction Machinery Co Ltd		2,378
	18,668		Hochtief AG.		2,127
	288		Hubbell, Inc		38
	386		IDEX Corp		63
	217,977		Illinois Tool Works, Inc		34,111
	95,239		Ingersoll-Rand plc		11,734
	415,507		Johnson Controls International plc		18,237
	303,500		Kajima Corp		3,998
	55,200	e	Kawasaki Heavy Industries Ltd		1,231
	1,335,270		Keppel Corp Ltd		5,734
	421,000	e	Komatsu Ltd		9,708
	579,800		Kubota Corp		8,818
	14,151		Legrand S.A.		1,010
	364		Lennox International, Inc		88
	24,449	*	Lydall, Inc		609
	261,659		Masco Corp		10,906
	792,191		Meggitt plc		6,180
	73,194	*	Mercury Systems, Inc		5,941
	500,300		Mitsubishi Corp		12,319
	24,737		Moog, Inc (Class A)		2,007
	35,971		MTU Aero Engines Holding AG.		9,558
	8,124	*	MYR Group, Inc		254
	333,800		Obayashi Corp		3,338
	358		Oshkosh Truck Corp		27
	386		Owens Corning, Inc		24
	139,447		PACCAR, Inc		9,763
	61,539		Parker-Hannifin Corp		11,115
	184,808	*,e	Plug Power, Inc		486
	89,372		Quanta Services, Inc		3,378
	53,814		Rockwell Automation, Inc		8,869
	51,778		Roper Industries, Inc		18,464
	8,372		Rush Enterprises, Inc (Class A)		323
	171,627		Schneider Electric S.A.		15,007
	41,557	*	Sensata Technologies Holding plc		2,080
	386,200	e	Shimizu Corp		3,508
	199,544		Siemens AG.		21,360
	11,700		Snap-On, Inc		1,832
	153,637		Spirit Aerosystems Holdings, Inc (Class A)		12,635
	18,600		Stanley Black & Decker, Inc		2,686

399

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	970,500		Techtronic Industries Co	$	6,755
	63,765	*	Teledyne Technologies, Inc		20,532
	22,276	*	Titan Machinery, Inc		319
	34,100	e	Toto Ltd		1,284
	37,403		TransDigm Group, Inc		19,475
	4,050	*	Trimas Corp		124
	33,197	*	United Rentals, Inc		4,138
	18,923	*	Veritiv Corp		342
	11,896		Vestas Wind Systems AS		923
	598,938		Volvo AB (B Shares)		8,405
	19,142		W.W. Grainger, Inc		5,688
	5,431		Wabash National Corp		79
	137	*	WABCO Holdings, Inc		18
	350,496	e	Wartsila Oyj (B Shares)		3,922
	3,753	*	Welbilt, Inc		63
	185,548	*	Wesco Aircraft Holdings, Inc		2,043
	698	*	WESCO International, Inc		33
	40,619		Woodward Governor Co		4,380
	12,800		WSP Global, Inc		748
	49,895		Xylem, Inc		3,973
			TOTAL CAPITAL GOODS		615,610
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	2,604		ABM Industries, Inc		95
	36,304		ACCO Brands Corp		358
	25,543		Adecco S.A.		1,414
	1,175		Brambles Ltd		9
	9,583	*	Cimpress NV		1,263
	287,713	*	Copart, Inc		23,112
	28,504		Exponent, Inc		1,992
	12,422		Heidrick & Struggles International, Inc		339
	3,908	*	Huron Consulting Group, Inc		240
	1,600	*	IAA, Inc		67
	11,793		ICF International, Inc		996
	363,658	*	IHS Markit Ltd		24,321
	18,190		Insperity, Inc		1,794
	130,358		Intertek Group plc		8,775
	1,600	e	KAR Auction Services, Inc		39
	16,221		Kelly Services, Inc (Class A)		393
	7,947		Kforce, Inc		301
	15,748		Manpower, Inc		1,327
	23,089	*	Mistras Group, Inc		379
	2,100		Mobile Mini, Inc		77
	29,024		Navigant Consulting, Inc		811
	1,000	*	On Assignment, Inc		63
	10,610	e	Pitney Bowes, Inc		48
	42,309	e	Quad Graphics, Inc		445
	278,600		Recruit Holdings Co Ltd		8,512
	639,425		RELX plc (London)		15,186
	21,731		Resources Connection, Inc		369
	73,813		Robert Half International, Inc		4,108
	1,100		Secom Co Ltd		101
	3,476		SGS S.A.		8,617

400

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,544	*	SP Plus Corp	$	57
	66,652	*,e	Team, Inc		1,203
	6,509		Teleperformance		1,410
	9,438		Tetra Tech, Inc		819
	167,743		TransUnion		13,606
	4,929		Verisk Analytics, Inc		779
	14,915		Viad Corp		1,002
	174,472		Waste Management, Inc		20,064
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		144,491
CONSUMER DURABLES & APPAREL - 1.2%
	51,420		Adidas-Salomon AG.		16,009
	490,275		Barratt Developments plc		3,903
	48,830		Berkeley Group Holdings plc		2,507
	245,066		Burberry Group plc		6,546
	39,764		Callaway Golf Co		772
	666	*	Capri Holdings Ltd		22
	224		Carter’s, Inc		21
	30,296	*	Century Communities, Inc		928
	99,601		Essilor International S.A.		14,360
	34,065	*,e	Fossil Group, Inc		426
	709		Garmin Ltd		60
	58,882		Hanesbrands, Inc		902
	804		Hasbro, Inc		95
	15,890	*,e	iRobot Corp		980
	104,155		Lennar Corp (Class A)		5,817
	11,459	*,e	LGI Homes, Inc		955
	16,136	*	Lululemon Athletica, Inc		3,107
	76,594	*,e	Mattel, Inc		872
	34,564	*	Meritage Homes Corp		2,432
	24,650	*,e	Mohawk Industries, Inc		3,058
	8,565		Movado Group, Inc		213
	133,124		Newell Rubbermaid, Inc		2,492
	503,347		Nike, Inc (Class B)		47,274
	538	*	NVR, Inc		2,000
	963,700		Panasonic Corp		7,854
	14,720		Pandora AS		591
	646		PVH Corp		57
	9,294		SEB S.A.		1,411
	342,400		Sekisui House Ltd		6,756
	206,400	e	Sharp Corp		2,305
	336,100		Sony Corp		19,866
	750		Tapestry, Inc		20
	943,268		Taylor Wimpey plc		1,872
	279		Tupperware Corp		4
	107,397	*,e	Under Armour, Inc (Class A)		2,142
	84,700	*	Under Armour, Inc (Class C)		1,536
	18,549	*	Unifi, Inc		407
	101,070		VF Corp		8,994
	12,737		Whirlpool Corp		2,017
			TOTAL CONSUMER DURABLES & APPAREL		171,583
CONSUMER SERVICES - 1.3%
	138,079		Accor S.A.		5,756

401

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	15,319	*	American Public Education, Inc	$	342
	71,614		ARAMARK Holdings Corp		3,121
	33,977		BBX Capital Corp		159
	36,619	*	Bright Horizons Family Solutions		5,584
	27,648		Carriage Services, Inc		565
	7,406	*	Chipotle Mexican Grill, Inc (Class A)		6,224
	31,329	e	Choice Hotels International, Inc		2,787
	545,143		Compass Group plc		14,028
	53,679		Darden Restaurants, Inc		6,346
	2,554		Domino’s Pizza, Inc		625
	676		Dunkin Brands Group, Inc		54
	28,743	*,e	El Pollo Loco Holdings, Inc		315
	21,740	*	frontdoor, Inc		1,056
	2,317		Graham Holdings Co		1,537
	39,800		H&R Block, Inc		940
	203,430		Hilton Worldwide Holdings, Inc		18,941
	84,571	*	Houghton Mifflin Harcourt Co		451
	140,603		InterContinental Hotels Group plc		8,774
	10,496		International Speedway Corp (Class A)		472
	18,356	e	Marriott Vacations Worldwide Corp		1,902
	698,155	g	Merlin Entertainments plc		3,885
	103,328	*	Norwegian Cruise Line Holdings Ltd		5,349
	80,100	e	Oriental Land Co Ltd		12,208
	18,117	*	Red Robin Gourmet Burgers, Inc		603
	103,138		Royal Caribbean Cruises Ltd		11,173
	95,265		Service Corp International		4,555
	53,952	*	ServiceMaster Global Holdings, Inc		3,016
	1,234,000		Shangri-La Asia Ltd		1,258
	635		Six Flags Entertainment Corp		32
	538,321		Starbucks Corp		47,598
	15,174		Vail Resorts, Inc		3,453
	3,787		Wendy’s		76
	130,649		Whitbread plc		6,896
	11,827	*	WW International Inc		447
			TOTAL CONSUMER SERVICES		180,528
DIVERSIFIED FINANCIALS - 3.1%
	682,461		3i Group plc		9,768
	61,300	e	AEON Financial Service Co Ltd		927
	78,780		Ally Financial, Inc		2,612
	329,477		American Express Co		38,971
	33,451		Ameriprise Financial, Inc		4,921
	1,444,992		AMP Ltd		1,782
	495,930		Bank of New York Mellon Corp		22,421
	62,911		BlackRock, Inc		28,036
	549,728		Charles Schwab Corp		22,995
	61,969		Chimera Investment Corp		1,212
	179,745		CME Group, Inc		37,987
	29,039		Deutsche Boerse AG.		4,529
	244,605		Discover Financial Services		19,835
	29,461	e	Dynex Capital, Inc		435
	29,186		E*TRADE Financial Corp		1,275
	11,008	e	Factset Research Systems, Inc		2,675

402

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	100,214	e	Franklin Resources, Inc	$	2,892
	14,336	*	Green Dot Corp		362
	424,097		Hong Kong Exchanges and Clearing Ltd		12,430
	387,822		IntercontinentalExchange Group, Inc		35,784
	229,267		Invesco Ltd		3,884
	688,942		Investec plc		3,544
	138,061		Investor AB (B Shares)		6,742
	47,941		Legg Mason, Inc		1,831
	137,325		London Stock Exchange Group plc		12,332
	655		LPL Financial Holdings, Inc		54
	127,644		Macquarie Group Ltd		11,315
	390,100	e	Mitsubishi UFJ Lease & Finance Co Ltd		2,263
	55,264		Moody’s Corp		11,320
	693,227		Morgan Stanley		29,580
	910		Morningstar, Inc		133
	21,175		NASDAQ OMX Group, Inc		2,104
	965,447		Natixis		4,000
	12,048	*,†	NewStar Financial, Inc		3
	159,554		Northern Trust Corp		14,890
	104,012	*,e	On Deck Capital, Inc		349
	159,621		S&P Global, Inc		39,104
	115,786		Schroders plc		4,377
	2,323,044		Standard Life Aberdeen plc		8,159
	6,210		Starwood Property Trust, Inc		150
	173,309		State Street Corp		10,258
	61,710		T Rowe Price Group, Inc		7,050
	1,304,825		UBS AG.		14,815
	26,721		Voya Financial, Inc		1,455
	27,266		Wendel		3,757
			TOTAL DIVERSIFIED FINANCIALS		445,318
ENERGY - 2.9%
	63,576		Aker BP ASA		1,694
	165,787	e	Apache Corp		4,244
	15,185		Archrock, Inc		151
	255,486		Baker Hughes a GE Co		5,927
	63,543	*,e	California Resources Corp		648
	316,426	*,e	Callon Petroleum Co		1,373
	3,504		Caltex Australia Ltd		62
	955,218		Cenovus Energy, Inc (Toronto)		8,962
	118,400	*	Cheniere Energy, Inc		7,466
	26,240	e	Cimarex Energy Co		1,258
	687,310		ConocoPhillips		39,163
	84,484	*,e	Covia Holdings Corp		171
	32,100	e	Delek US Holdings, Inc		1,165
	946,023	*,e	Denbury Resources, Inc		1,126
	229,667		Devon Energy Corp		5,526
	520,749		Enbridge, Inc (Toronto)		18,277
	344,580		EnCana Corp		1,579
	100,768		EQT Corp		1,072
	33,952	*	Exterran Corp		443
	125,569	*	Forum Energy Technologies, Inc		195
	506,388		Galp Energia SGPS S.A.		7,616
	67,528		Green Plains Renewable Energy, Inc		716

403

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	157,707	*	Gulfport Energy Corp	$	427
	65,323	*	Helix Energy Solutions Group, Inc		527
	108,631		Hess Corp		6,570
	936,486		Inpex Holdings, Inc		8,630
	690,211	e	John Wood Group plc		3,218
	1,771,167		Kinder Morgan, Inc		36,504
	34,499		Koninklijke Vopak NV		1,773
	321,362	*	Laredo Petroleum Holdings, Inc		775
	162,614	e	Lundin Petroleum AB		4,875
	473,778		Marathon Oil Corp		5,813
	28,451	*	Matrix Service Co		488
	245,014		National Oilwell Varco, Inc		5,194
	294,718	e	Neste Oil Oyj		9,751
	107,917	*	Newpark Resources, Inc		822
	256,228		Noble Energy, Inc		5,755
	585,169	*,e	Oasis Petroleum, Inc		2,025
	467,285		Occidental Petroleum Corp		20,780
	5,830	*	Oceaneering International, Inc		79
	150,343		OMV AG.		8,058
	228,962		ONEOK, Inc		16,872
	45,731		Parsley Energy, Inc		768
	29,146		PBF Energy, Inc		793
	33,891	*	PDC Energy, Inc		941
	83,671		Pioneer Natural Resources Co		10,523
	101,384		Questar Market Resources, Inc		375
	128,649	e	Range Resources Corp		491
	59,114	*,e	Renewable Energy Group, Inc		887
	738,641		Repsol YPF S.A.		11,520
	1,410	e	RPC, Inc		8
	255,091		Santos Ltd		1,330
	900,361		Schlumberger Ltd		30,765
	213,779		SM Energy Co		2,072
	236,915	*,e	Southwestern Energy Co		457
	567,591		Statoil ASA		10,751
	518,060		Suncor Energy, Inc		16,341
	9,821		Targa Resources Investments, Inc		395
	801		TechnipFMC plc (Euro OTC)		19
	242,721		Tenaris S.A.		2,574
	244,854	*	Tetra Technologies, Inc		492
	14,614	*	Tidewater, Inc		221
	551,616		Total S.A.		28,721
	23,728	e	US Silica Holdings, Inc		227
	284,538		Valero Energy Corp		24,254
	478,825		Williams Cos, Inc		11,521
	243,032		Woodside Petroleum Ltd		5,310
	36,997		World Fuel Services Corp		1,478
	1,470	e	WorleyParsons Ltd		13
			TOTAL ENERGY		411,017
FOOD & STAPLES RETAILING - 0.6%
	293,800		Aeon Co Ltd		5,398
	210,868		Alimentation Couche Tard, Inc		6,462
	50,951		Casey’s General Stores, Inc		8,211

404

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	55,796	e	Casino Guichard Perrachon S.A.	$	2,663
	46,387	*	Chefs’ Warehouse Holdings, Inc		1,870
	63,518		George Weston Ltd		5,344
	1,800,441		J Sainsbury plc		4,858
	161,220		Loblaw Cos Ltd		9,183
	147,990		Metro Wholesale & Food Specialist AG.		2,335
	39,755		Pricesmart, Inc		2,827
	69,894		Spartan Stores, Inc		827
	178,912	*	Sprouts Farmers Market, Inc		3,460
	129,096	*	United Natural Foods, Inc		1,487
	453,089	*	US Foods Holding Corp		18,622
	12,906	e	Weis Markets, Inc		492
	2,106,392		WM Morrison Supermarkets plc		5,186
	112,406		Woolworths Ltd		2,829
			TOTAL FOOD & STAPLES RETAILING		82,054
FOOD, BEVERAGE & TOBACCO - 2.4%
	331,300		Ajinomoto Co, Inc		6,271
	316,713		Associated British Foods plc		8,966
	2,201		Barry Callebaut AG.		4,540
	48,239		Bunge Ltd		2,731
	106,791	e	Campbell Soup Co		5,011
	272,091		Coca-Cola Amatil Ltd		1,958
	1,320,791		Coca-Cola Co		71,904
	169,368		Coca-Cola European Partners plc (Class A)		9,391
	202,924		Coca-Cola HBC AG.		6,628
	186,136		Danone		16,395
	35,309		Fresh Del Monte Produce, Inc		1,204
	399,949		General Mills, Inc		22,045
	2,360	*	Hain Celestial Group, Inc		51
	265,167	e	Hormel Foods Corp		11,596
	162,766		Kellogg Co		10,474
	78,322		Kerry Group plc (Class A)		9,160
	123,600	e	Kikkoman Corp		5,930
	41,938		McCormick & Co, Inc		6,555
	584,388		Nestle S.A.		63,379
	29,600		Nissin Food Products Co Ltd		2,145
	302,914		Orkla ASA		2,756
	113,527		PAN Fish ASA		2,622
	500,696		PepsiCo, Inc		68,645
	141,500		Suntory Beverage & Food Ltd		6,058
	73,400		Yakult Honsha Co Ltd		4,120
			TOTAL FOOD, BEVERAGE & TOBACCO		350,535
HEALTH CARE EQUIPMENT & SERVICES - 2.6%
	26,412	*	Abiomed, Inc		4,698
	28,953	*,e	Acadia Healthcare Co, Inc		900
	88,475	*	Accuray, Inc		245
	88,066	*	Alcon, Inc		5,137
	11,700		Alfresa Holdings Corp		262
	57,080	*	Align Technology, Inc		10,327
	55,129	*	Allscripts Healthcare Solutions, Inc		605
	22,868	*	Amedisys, Inc		2,996
	34,760	*	AMN Healthcare Services, Inc		2,001

405

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	56,653	*	Angiodynamics, Inc	$	1,044
	32,945	*	Antares Pharma, Inc		110
	32,319	*	AtriCure, Inc		806
	30,445	*,e	BioTelemetry, Inc		1,240
	73,393	*	Brookdale Senior Living, Inc		556
	206,115		Cardinal Health, Inc		9,727
	21,658	*	Cardiovascular Systems, Inc		1,029
	137,277	*	Centene Corp		5,939
	229,717		Cerner Corp		15,660
	79,050	*,e	Cerus Corp		408
	85,113		Cigna Corp		12,919
	50,101		Coloplast AS		6,028
	14,582	e	Computer Programs & Systems, Inc		330
	40,675		Cooper Cos, Inc		12,080
	4,570	*	Corvel Corp		346
	25,039	*	Cross Country Healthcare, Inc		258
	372,827		CVS Health Corp		23,514
	105,467		Dentsply Sirona, Inc		5,622
	21,016	*,e	Diplomat Pharmacy, Inc		103
	103,808	*	Edwards Lifesciences Corp		22,828
	52,788	*	GenMark Diagnostics, Inc		320
	15,806	*,e	Glaukos Corp		988
	33,737	*,e	Globus Medical, Inc		1,725
	7,411	*	Haemonetics Corp		935
	149,197		HCA Healthcare, Inc		17,966
	30,112	*	Henry Schein, Inc		1,912
	6,832	*,e	Heska Corp		484
	19,222		Hill-Rom Holdings, Inc		2,023
	10,561	*	HMS Holdings Corp		364
	125,859	*	Hologic, Inc		6,355
	85,299		Humana, Inc		21,808
	61,856	*	IDEXX Laboratories, Inc		16,821
	32,221	*	Integer Holding Corp		2,435
	306,281		Koninklijke Philips Electronics NV		14,153
	59,472	*	Laboratory Corp of America Holdings		9,991
	23,250	e	LeMaitre Vascular, Inc		795
	19,312	*	LHC Group, Inc		2,193
	9,373	*	LivaNova plc		692
	18,181	*	Medidata Solutions, Inc		1,664
	50,421		Meridian Bioscience, Inc		478
	37,651	*	Merit Medical Systems, Inc		1,147
	42,933	*	NextGen Healthcare, Inc		673
	41,347	*	Omnicell, Inc		2,988
	94,301	*,e	OraSure Technologies, Inc		704
	6,132	*	Orthofix International NV		325
	10,874	*,e	Penumbra, Inc		1,462
	420		Phonak Holding AG.		98
	2,830	*,e	Premier, Inc		82
	15,337	*	Providence Service Corp		912
	31,422		Quest Diagnostics, Inc		3,363
	15,447	*	Quidel Corp		948
	103,188		Ramsay Health Care Ltd		4,521
	73,692		Resmed, Inc		9,957

406

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	252,994		Ryman Healthcare Ltd	$	2,103
	35,733		Sartorius AG.		6,514
	36,701	*	Select Medical Holdings Corp		608
	208,498	*,e	Senseonics Holdings, Inc		206
	48,724	*	Staar Surgical Co		1,256
	25,954		STERIS plc		3,750
	41,823	*,e	Surgery Partners, Inc		309
	63,500		Sysmex Corp		4,266
	22,561	*,e	Tactile Systems Technology, Inc		955
	13,158	*	Tandem Diabetes Care, Inc		776
	67,030	*,e	Teladoc, Inc		4,539
	43,590	*,e	Tivity Health, Inc		725
	347,286	*,e	TransEnterix, Inc		215
	19,426	*,e	Triple-S Management Corp (Class B)		260
	251,733		UnitedHealth Group, Inc		54,707
	10,051		US Physical Therapy, Inc		1,312
	36,170	*	Varian Medical Systems, Inc		4,307
	32,132	*,e	Vocera Communications, Inc		792
	26,563		West Pharmaceutical Services, Inc		3,767
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		370,367
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
	493		Clorox Co		75
	357,920		Colgate-Palmolive Co		26,311
	4,015	e	Energizer Holdings, Inc		175
	244,460		Essity AB		7,133
	84,142		Estee Lauder Cos (Class A)		16,740
	96,176		Henkel KGaA		8,804
	37,753		Henkel KGaA (Preference)		3,736
	110,000		Kao Corp		8,159
	75,803		Kimberly-Clark Corp		10,768
	68,916		L’Oreal S.A.		19,274
	743,670		Procter & Gamble Co		92,498
	93,100		Shiseido Co Ltd		7,472
	59,900		Uni-Charm Corp		1,904
	365,155		Unilever NV		21,926
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		224,975
INSURANCE - 2.7%
	1,033,435		Aegon NV		4,292
	100,018		Allianz AG.		23,281
	112,380		Allstate Corp		12,213
	617,870		American International Group, Inc		34,415
	44,909		Aon plc		8,693
	2,370		Arthur J. Gallagher & Co		212
	369,224		Assicurazioni Generali S.p.A.		7,155
	2,234,550		Aviva plc		10,970
	574,060		AXA S.A.		14,658
	266,532		Chubb Ltd		43,029
	172,300		CNP Assurances		3,330
	1,270		First American Financial Corp		75
	139,663	*	Genworth Financial, Inc (Class A)		615
	3,418,099		Legal & General Group plc		10,433
	2,173		Lincoln National Corp		131

407

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	256,759		Loews Corp	$	13,218
	320,317		Marsh & McLennan Cos, Inc		32,048
	48,028		Muenchener Rueckver AG.		12,406
	123,000	e	NKSJ Holdings, Inc		5,166
	61,399		Principal Financial Group		3,508
	382,833		Progressive Corp		29,574
	345,540		Prudential Financial, Inc		31,081
	830,427		Prudential plc		15,048
	209,543		RSA Insurance Group plc		1,375
	58,742		Sun Life Financial, Inc		2,627
	100,851		Swiss Re Ltd		10,523
	173,200		Tokio Marine Holdings, Inc		9,292
	177,449		Travelers Cos, Inc		26,385
	495		White Mountains Insurance Group Ltd		535
	5,775		Willis Towers Watson plc		1,114
	46,595		Zurich Financial Services AG.		17,846
			TOTAL INSURANCE		385,248
MATERIALS - 2.7%
	163,698		Agnico-Eagle Mines Ltd		8,773
	123,181		Air Liquide		17,531
	2,484,073	e	Alumina Ltd		3,980
	6,164		Aptargroup, Inc		730
	226,300	e	Asahi Kasei Corp		2,245
	2,277	*	Axalta Coating Systems Ltd		69
	217,625		Ball Corp		15,845
	214,323		BASF SE		14,985
	531	*	Berry Global Group, Inc		21
	519,596		BlueScope Steel Ltd		4,220
	277,357		Boliden AB		6,370
	83,968	*	Century Aluminum Co		557
	6,223		Christian Hansen Holding		527
	22,619	*	Clearwater Paper Corp		478
	86,865		Commercial Metals Co		1,510
	231,534		CRH plc		7,947
	94,615		Croda International plc		5,652
	5,941		DSM NV		715
	259,623		DuPont de Nemours, Inc		18,514
	192,393		Ecolab, Inc		38,102
	1,339,081	e	Fortescue Metals Group Ltd		7,971
	96,460		Franco-Nevada Corp		8,789
	3,439		Givaudan S.A.		9,598
	83,785		HeidelbergCement AG.		6,053
	204,900	e	Hitachi Metals Ltd		2,225
	35,857		Imerys S.A.		1,440
	10,422	e	International Flavors & Fragrances, Inc		1,279
	187,147		International Paper Co		7,827
	41,353		Johnson Matthey plc		1,553
	42,339	*	Kraton Polymers LLC		1,367
	254,284		Linde plc		49,260
	59,233		Louisiana-Pacific Corp		1,456
	675,740		Lundin Mining Corp		3,178
	3,682		Materion Corp		226

408

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	25,920		Minerals Technologies, Inc	$	1,376
	486,000		Mitsubishi Chemical Holdings Corp		3,483
	141,592		Mitsui Chemicals, Inc		3,190
	75,838		Mondi plc		1,452
	173,854		Mosaic Co		3,564
	423,759		Newcrest Mining Ltd		9,779
	174,481		Newmont Mining Corp		6,616
	637,900		Nippon Steel Corp		8,939
	28,700		Nitto Denko Corp		1,391
	1,372,851		Norsk Hydro ASA		4,834
	272,234	e	Nucor Corp		13,859
	236,234		Nutrien Ltd (Toronto)		11,768
	4,188		Reliance Steel & Aluminum Co		417
	76,335		Royal Gold, Inc		9,405
	30,561		RPM International, Inc		2,103
	10,424		Schnitzer Steel Industries, Inc (Class A)		215
	337		Scotts Miracle-Gro Co (Class A)		34
	131,300		Shin-Etsu Chemical Co Ltd		14,129
	5,600		Showa Denko KK		148
	31,200		Sika AG.		4,565
	1,033		Sonoco Products Co		60
	153,789		Stora Enso Oyj (R Shares)		1,851
	1,184,000		Sumitomo Chemical Co Ltd		5,346
	237,200		Sumitomo Metal Mining Co Ltd		7,408
	67,852	*	Summit Materials, Inc		1,506
	497,274		Teck Cominco Ltd		8,062
	9,000		Toray Industries, Inc		67
	29,019	e	Trinseo S.A.		1,246
	96,947	e	Umicore S.A.		3,663
	166,329		UPM-Kymmene Oyj		4,912
	40,659	*,e	US Concrete, Inc		2,248
	110,931	e	Voestalpine AG.		2,551
			TOTAL MATERIALS		391,180
MEDIA & ENTERTAINMENT - 2.7%
	165,932		Activision Blizzard, Inc		8,781
	72,711	*	Alphabet, Inc (Class A)		88,790
	73,725	*	Alphabet, Inc (Class C)		89,871
	8,019		Cable One, Inc		10,061
	124,069		Cinemark Holdings, Inc		4,794
	66,744	*	Clear Channel		168
	700	e	CyberAgent, Inc		27
	353,531	*,e	Discovery, Inc (Class A)		9,415
	502,403	*	Discovery, Inc (Class C)		12,369
	57,698	*	Electronic Arts, Inc		5,644
	133,248		Entravision Communications Corp (Class A)		424
	230,771		Gannett Co, Inc		2,479
	80,924	*	GCI Liberty, Inc		5,023
	152,247	*	Gray Television, Inc		2,485
	83,516	*	Imax Corp		1,833
	900,596		Informa plc		9,432
	2,648,309	e	ITV plc		4,102
	56,169		JC Decaux S.A.		1,520
	51,011		John Wiley & Sons, Inc (Class A)		2,241

409

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	225,880	*	Liberty Broadband Corp (Class C)	$	23,643
	2,960	*	Liberty Global plc (Class A)		73
	8,773	*	Liberty Global plc (Class C)		209
	5,583	*	Loral Space & Communications, Inc		231
	34,496		Marcus Corp		1,277
	98,676	*	NetFlix, Inc		26,408
	90,036	e	New York Times Co (Class A)		2,564
	34,600		Nintendo Co Ltd		12,888
	396,106		Omnicom Group, Inc		31,015
	373,284		Pearson plc		3,385
	7,561		Schibsted ASA (B Shares)		212
	15,261		Scholastic Corp		576
	42,401		Sinclair Broadcast Group, Inc (Class A)		1,812
	113,405	e	Sirius XM Holdings, Inc		709
	11,957	*,e	Snap, Inc		189
	15,494	*	Take-Two Interactive Software, Inc		1,942
	52,255		TEGNA, Inc		812
	111,216	*	TripAdvisor, Inc		4,302
	236,284	*	Twitter, Inc		9,735
	39,073		World Wrestling Entertainment, Inc (Class A)		2,780
	793,979		WPP plc		9,942
			TOTAL MEDIA & ENTERTAINMENT		394,163
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 4.7%
	384,706		AbbVie, Inc		29,130
	81,706	*,e	Acadia Pharmaceuticals, Inc		2,941
	8,756	*	Acceleron Pharma, Inc		346
	247,182	*	Achillion Pharmaceuticals, Inc		890
	196,629		Agilent Technologies, Inc		15,068
	24,557	*,e	Agios Pharmaceuticals, Inc		796
	182,586	*	Akorn, Inc		694
	238,900		Amgen, Inc		46,229
	701,314		Astellas Pharma, Inc		10,032
	295,295		AstraZeneca plc		26,367
	11,500		AstraZeneca plc (ADR)		513
	12,449	*,e	Atara Biotherapeutics, Inc		176
	137,000	*,e	Aurora Cannabis, Inc		602
	7,622	*	Avrobio, Inc		108
	165,249	*,e	BioCryst Pharmaceuticals, Inc		473
	73,919	*	Biogen Idec, Inc		17,210
	65,896	*	BioMarin Pharmaceutical, Inc		4,441
	14,780	*,e	Bluebird Bio, Inc		1,357
	645,515		Bristol-Myers Squibb Co		32,734
	1,178		Bruker BioSciences Corp		52
	62,397	*,e	Canopy Growth Corp (Toronto)		1,429
	256,084	*	Celgene Corp		25,429
	138,297		Chugai Pharmaceutical Co Ltd		10,808
	59,094	*	Coherus Biosciences, Inc		1,197
	57,400	*	Collegium Pharmaceutical, Inc		659
	93,860	*,e	Cronos Group, Inc		848
	122,430		CSL Ltd		19,358
	20,056	*	Cymabay Therapeutics, Inc		103
	91,300		Eisai Co Ltd		4,664

410

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	425,484		Eli Lilly & Co	$	47,582
	5,911	*,e	Esperion Thereapeutics, Inc		217
	40,521	*	FibroGen, Inc		1,498
	19,936	*,e	Flexion Therapeutics, Inc		273
	439,651		Gilead Sciences, Inc		27,865
	67,537		H Lundbeck AS		2,239
	11,045	*	Halozyme Therapeutics, Inc		171
	58,587	*	Illumina, Inc		17,823
	32,294	*,e	Inovio Pharmaceuticals, Inc		66
	34,337	*	Intersect ENT, Inc		584
	34,583	*,e	Intra-Cellular Therapies, Inc		258
	96,227	*	Iovance Biotherapeutics, Inc		1,751
	76,044	*	IQVIA Holdings, Inc		11,359
	30,394	*	Jazz Pharmaceuticals plc		3,895
	96,532	*,e	Karyopharm Therapeutics, Inc		929
	239,300		Kyowa Hakko Kogyo Co Ltd		4,660
	33,602		Lonza Group AG.		11,371
	858,833		Merck & Co, Inc		72,297
	85,531		Merck KGaA		9,635
	7,502	*	Mettler-Toledo International, Inc		5,284
	2,060	*	Mirati Therapeutics, Inc		161
	65,713	*,e	Nektar Therapeutics		1,197
	429,284		Novo Nordisk AS		22,184
	225,662	*,e	Opko Health, Inc		472
	1,883		Orion Oyj (Class B)		70
	43,999		Perrigo Co plc		2,459
	160,718	*	Progenics Pharmaceuticals, Inc		812
	16,974	*	Prothena Corp plc		133
	181,028	*	QIAGEN NV (Turquoise)		5,928
	39,851	*	Radius Health, Inc		1,026
	12,992	*,e	Reata Pharmaceuticals, Inc		1,043
	567	*	Repligen Corp		44
	78,829	*	Revance Therapeutics, Inc		1,025
	145,630		Roche Holding AG.		42,402
	8,730	*,e	Sage Therapeutics, Inc		1,225
	62,806	*,e	Sangamo Biosciences, Inc		568
	273,152		Sanofi-Aventis		25,303
	93,800		Shionogi & Co Ltd		5,230
	4,346	*	Spark Therapeutics, Inc		421
	31,200	e	Sumitomo Dainippon Pharma Co Ltd		516
	364,700		Takeda Pharmaceutical Co Ltd		12,515
	38,079	*,e	TherapeuticsMD, Inc		138
	30,109	*,e	Theravance Biopharma, Inc		587
	5,130	*	Tricida, Inc		158
	58,831		UCB S.A.		4,268
	29,082	*,e	Ultragenyx Pharmaceutical, Inc		1,244
	94,921	*	Vertex Pharmaceuticals, Inc		16,082
	4,804		Vifor Pharma AG.		768
	24,174	*	Waters Corp		5,396
	30,112	*,e	ZIOPHARM Oncology, Inc		129
	327,959		Zoetis, Inc		40,860
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		668,775

411

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
REAL ESTATE - 2.4%
	48,412		Alexandria Real Estate Equities, Inc	$	7,457
	15,548	*,e	Altisource Portfolio Solutions S.A.		314
	22,670		American Campus Communities, Inc		1,090
	212,571		American Tower Corp		47,006
	106,260		Boston Properties, Inc		13,778
	4,210		Brandywine Realty Trust		64
	892,486		British Land Co plc		6,420
	80,242		Brixmor Property Group, Inc		1,628
	1,473,649		CapitaLand Ltd		3,767
	68,626		CatchMark Timber Trust, Inc		732
	94,275	*	CBRE Group, Inc		4,998
	22,344		Chatham Lodging Trust		406
	228,200		City Developments Ltd		1,623
	77,133		CorePoint Lodging, Inc		780
	32,533		Coresite Realty		3,964
	44,542		Cousins Properties, Inc		1,674
	3,432		CyrusOne, Inc		271
	317,700		Daiwa House Industry Co Ltd		10,327
	103,657		Deutsche Wohnen AG.		3,784
	66,074		Digital Realty Trust, Inc		8,577
	129,032		Duke Realty Corp		4,383
	41,460		Easterly Government Properties, Inc		883
	48,738		Equinix, Inc		28,112
	7,555		First Industrial Realty Trust, Inc		299
	31,038		Franklin Street Properties Corp		263
	539		Gecina S.A.		85
	2,064,000		Hang Lung Properties Ltd		4,684
	300,951		HCP, Inc		10,723
	257,492		Host Marriott Corp		4,452
	48,313	*	Howard Hughes Corp		6,261
	248,000		Hulic Co Ltd		2,546
	470,670		Hysan Development Co Ltd		1,898
	146,574		Iron Mountain, Inc		4,748
	101,838	e	iStar Financial, Inc		1,329
	6,605		Jones Lang LaSalle, Inc		918
	58,776		Kimco Realty Corp		1,227
	12,720		Land Securities Group plc		134
	45,796		Lend Lease Corp Ltd		543
	9,428		Liberty Property Trust		484
	587,500		Link REIT		6,481
	579,500		Mitsubishi Estate Co Ltd		11,206
	362,810		Mitsui Fudosan Co Ltd		9,029
	17		Nippon ProLogis REIT, Inc		47
	59,300		Nomura Real Estate Holdings, Inc		1,285
	25,895	e	Office Properties Income Trust		793
	34,015	e	Park Hotels & Resorts, Inc		849
	7,000		Piedmont Office Realty Trust, Inc		146
	464,775		Prologis, Inc		39,608
	36,640		QTS Realty Trust, Inc		1,884
	3,184		Rayonier, Inc		90
	19,275	e	Realogy Holdings Corp		129
	3,972		Regency Centers Corp		276
	3,556		RMR Group, Inc		162

412

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	19,104		Sabra Healthcare REIT, Inc	$	439
	62,755		SBA Communications Corp		15,133
	956,542		Segro plc		9,536
	29,336		Senior Housing Properties Trust		271
	508,500		Swire Pacific Ltd (Class A)		4,733
	1,192,200		Swire Properties Ltd		3,742
	78,053		UDR, Inc		3,784
	40,112		Unibail-Rodamco-Westfield		5,848
	281,758		Welltower, Inc		25,541
	373,134		Weyerhaeuser Co		10,336
			TOTAL REAL ESTATE		343,980
RETAILING - 3.4%
	74,043	*	1-800-FLOWERS.COM, Inc (Class A)		1,095
	35,173		Advance Auto Parts, Inc		5,818
	82,648	*	Amazon.com, Inc		143,469
	440	*	Autonation, Inc		22
	74,048		Best Buy Co, Inc		5,109
	40,703	*	BJ’s Wholesale Club Holdings, Inc		1,053
	22,210	*	Booking Holdings, Inc		43,590
	68,272	*	CarMax, Inc		6,008
	487,658		eBay, Inc		19,009
	47,041	*	Etsy, Inc		2,658
	172,686		Expedia, Inc		23,211
	18,500		Fast Retailing Co Ltd		11,036
	7,052	*	Five Below, Inc		889
	3,480	e	GameStop Corp (Class A)		19
	118,188		Gap, Inc		2,052
	24,552	*,e	Genesco, Inc		983
	19,230		Genuine Parts Co		1,915
	331		Group 1 Automotive, Inc		31
	685,137	*	Groupon, Inc		1,822
	14,217	e	Haverty Furniture Cos, Inc		288
	61,083	e	Hennes & Mauritz AB (B Shares)		1,184
	31,775	*,e	Hibbett Sports, Inc		728
	323,844		Home Depot, Inc		75,138
	412,725		Industria De Diseno Textil S.A.		12,773
	97,400		Jardine Cycle & Carriage Ltd		2,115
	27,464		Kering		13,995
	602,335		Kingfisher plc		1,531
	829		L Brands, Inc		16
	55,655	*,e	Lands’ End, Inc		631
	120,512	*	LKQ Corp		3,790
	304,803		Lowe’s Companies, Inc		33,516
	1,225	e	Macy’s, Inc		19
	16,107	*	MarineMax, Inc		249
	508,607		Marks & Spencer Group plc		1,152
	2,400	e	Marui Co Ltd		51
	165	*	MercadoLibre, Inc		91
	308	*	Murphy USA, Inc		26
	52,121		Next plc		3,962
	300		Nitori Co Ltd		44
	33,409	e	Nordstrom, Inc		1,125
	201		Pool Corp		41

413

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	171,930	*	Quotient Technology, Inc	$	1,345
	8,315		Rent-A-Center, Inc		214
	174,096		Ross Stores, Inc		19,124
	1,746	*	Sally Beauty Holdings, Inc		26
	15,085	e	Shoe Carnival, Inc		489
	166,451		Target Corp		17,795
	22,162		Tiffany & Co		2,053
	15,696	e	Tile Shop Holdings, Inc		50
	165,116		TJX Companies, Inc		9,204
	20,554		Tractor Supply Co		1,859
	24,383	*	Ulta Beauty, Inc		6,112
	15,682	*,e	Wayfair, Inc		1,758
	169,777		Wesfarmers Ltd		4,562
	46,193	e	Williams-Sonoma, Inc		3,140
	29,100	*,g	Zalando SE		1,329
			TOTAL RETAILING		491,314
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.6%
	446,886		Applied Materials, Inc		22,300
	101,259		ASML Holding NV		25,114
	4,759		Brooks Automation, Inc		176
	29,888	*	Cirrus Logic, Inc		1,601
	44,145	*	Cree, Inc		2,163
	21,963	*	First Solar, Inc		1,274
	1,265,307		Intel Corp		65,201
	63,541		Lam Research Corp		14,685
	201,703		NVIDIA Corp		35,110
	14,994	*	Silicon Laboratories, Inc		1,670
	417,990		Texas Instruments, Inc		54,021
	53,600	e	Tokyo Electron Ltd		10,298
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		233,613
SOFTWARE & SERVICES - 5.0%
	276,313		Accenture plc		53,149
	174,402	*	Adobe, Inc		48,178
	102,701		Amadeus IT Holding S.A.		7,359
	28,709		Atos Origin S.A.		2,021
	133,580	*	Autodesk, Inc		19,730
	35,973	*,e	Avaya Holdings Corp		368
	53,343	*,e	Benefitfocus, Inc		1,270
	321,192	*	Black Knight, Inc		19,612
	21,974	e	Blackbaud, Inc		1,985
	308,995		Booz Allen Hamilton Holding Co		21,945
	147,514	*	Cadence Design Systems, Inc		9,748
	80,102		Cap Gemini S.A.		9,432
	118,984	*	CGI, Inc		9,408
	23,801	*	ChannelAdvisor Corp		222
	3,509		Computershare Ltd		38
	415,660	*	Conduent, Inc		2,585
	9,827	*	Coupa Software, Inc		1,273
	70,417		CSG Systems International, Inc		3,639
	61,044	*	ExlService Holdings, Inc		4,087
	95,600		Fujitsu Ltd		7,683

414

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	386,494		International Business Machines Corp	$	56,204
	146,973		Intuit, Inc		39,086
	216,763	*	Limelight Networks, Inc		657
	84,158		LogMeIn, Inc		5,972
	771	*	Manhattan Associates, Inc		62
	1,732,635		Microsoft Corp		240,888
	82,845	*	New Relic, Inc		5,091
	193,200		Nomura Research Institute Ltd		3,861
	78,199	*	Nutanix, Inc		2,053
	29,738	*	OneSpan, Inc		431
	1,800		Otsuka Corp		72
	5,706	*	Paylocity Holding Corp		557
	70,881	*	Perficient, Inc		2,735
	32,565	*,e	Qualys, Inc		2,461
	62,150	*	Rapid7, Inc		2,821
	90,038	*	RingCentral, Inc		11,314
	307,401	*	salesforce.com, Inc		45,631
	227,789		SAP AG.		26,805
	65,807		Science Applications International Corp		5,748
	36,877	*	Shopify, Inc (Class A) (Toronto)		11,476
	106,076	*	SPS Commerce, Inc		4,993
	56,406	*	Sykes Enterprises, Inc		1,728
	196,381	*	Teradata Corp		6,088
	82,173		TiVo Corp		626
	17,959		TTEC Holdings, Inc		860
	51,534	*	Virtusa Corp		1,856
	33,485		VMware, Inc (Class A)		5,025
	47,070	*	WEX, Inc		9,511
	28,776	*,g	Worldline S.A.		1,813
	37,590	*	Zendesk, Inc		2,740
			TOTAL SOFTWARE & SERVICES		722,897
TECHNOLOGY HARDWARE & EQUIPMENT - 3.1%
	15,530	*	Anixter International, Inc		1,073
	986,842		Apple, Inc		221,023
	28,175		AVX Corp		428
	18,747	e	Badger Meter, Inc		1,007
	4,043		Belden CDT, Inc		216
	127,495		Benchmark Electronics, Inc		3,705
	1,326,950		Cisco Systems, Inc		65,565
	2,446	*	Coherent, Inc		376
	33,384		CTS Corp		1,080
	39,009		Daktronics, Inc		288
	133,330		Dolby Laboratories, Inc (Class A)		8,618
	43,308	*	Fabrinet		2,265
	25,626	*	FARO Technologies, Inc		1,239
	1,009,883		Hewlett Packard Enterprise Co		15,320
	910,921		HP, Inc		17,235
	14,586	*,h	II-VI, Inc		514
	20,660	*	Insight Enterprises, Inc		1,151
	44,469	*	Itron, Inc		3,289
	93,108	e	Kemet Corp		1,693
	27,037		Keyence Corp		16,829
	27,207	*	Keysight Technologies, Inc		2,646

415

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	34,382	*	Kimball Electronics, Inc	$	499
	193,000		Konica Minolta Holdings, Inc		1,350
	151,900		Kyocera Corp		9,471
	25,369		Littelfuse, Inc		4,498
	27,553	*,e	Lumentum Holdings, Inc		1,476
	8,736		Methode Electronics, Inc		294
	69,717		Motorola Solutions, Inc		11,880
	3,868		MTS Systems Corp		214
	209,100		Murata Manufacturing Co Ltd		10,135
	165,267		National Instruments Corp		6,940
	103,381		NEC Corp		4,372
	9,996	*	Netgear, Inc		322
	26,169	*	Novanta, Inc		2,139
	58,800	e	Omron Corp		3,240
	7,653	*	OSI Systems, Inc		777
	21,896	*	Plexus Corp		1,369
	64,222	*	Ribbon Communications, Inc		375
	15,267	*	Rogers Corp		2,087
	43,000		Shimadzu Corp		1,093
	22,978		Synnex Corp		2,594
	4,348		TE Connectivity Ltd		405
	58,080	*	Tech Data Corp		6,054
	150,468	*	TTM Technologies, Inc		1,835
	127,732		Vishay Intertechnology, Inc		2,162
	105,400	e	Yaskawa Electric Corp		3,912
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		445,053
TELECOMMUNICATION SERVICES - 1.5%
	40,702	*	Boingo Wireless, Inc		452
	4,911,585		BT Group plc		10,773
	1,184,745	e	CenturyLink, Inc		14,786
	72,478	*	Cincinnati Bell, Inc		368
	30,636		Cogent Communications Group, Inc		1,688
	45,812	*,e	Gogo, Inc		276
	792,000		HKT Trust and HKT Ltd		1,256
	192,037	*	Iridium Communications, Inc		4,087
	535,332		KDDI Corp		13,968
	435,500	e	NTT DoCoMo, Inc		11,120
	725,735		Orange S. A.		11,359
	142,952	*	Orbcomm, Inc		680
	1,599,000		PCCW Ltd		898
	185,118		Rogers Communications, Inc (Class B)		9,017
	3,479,100		Singapore Telecommunications Ltd		7,806
	536,300	e	Singapore Telecommunications Ltd		1,208
	309,000		Softbank Group Corp		12,193
	14,132	*	Sprint Corp		87
	12,024		Swisscom AG.		5,932
	2,071	e	Tele2 AB (B Shares)		31
	434,061		Telefonica Deutschland Holding AG.		1,210
	183,099		Telenor ASA		3,674
	25,967		TeliaSonera AB		116
	512,814		Telstra Corp Ltd		1,216
	7,102		TELUS Corp		253

416

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	1,349,046		Verizon Communications, Inc	$	81,428
	8,506,780		Vodafone Group plc		16,948
			TOTAL TELECOMMUNICATION SERVICES		212,830
TRANSPORTATION - 1.4%
	29,762		Aeroports de Paris		5,294
	26,400		All Nippon Airways Co Ltd		889
	2,784		Amerco, Inc		1,086
	4,904		Arkansas Best Corp		149
	141,851		Auckland International Airport Ltd		813
	2,308	*	Avis Budget Group, Inc		65
	196,808		Canadian National Railway Co		17,672
	60,300		Central Japan Railway Co		12,434
	10,186		CH Robinson Worldwide, Inc		864
	472,736		CSX Corp		32,746
	258,935		Delta Air Lines, Inc		14,915
	313,413		Deutsche Post AG.		10,445
	124,800		East Japan Railway Co		11,934
	132,255		easyJet plc		1,867
	12,132	*	Echo Global Logistics, Inc		275
	813		Expeditors International of Washington, Inc		60
	18,939		Fraport AG. Frankfurt Airport Services Worldwide		1,605
	100	*	Genesee & Wyoming, Inc (Class A)		11
	75,281		Groupe Eurotunnel S.A.		1,130
	18,300		Hankyu Hanshin Holdings, Inc		708
	55,864	*	Hertz Global Holdings, Inc		773
	592		Kansas City Southern Industries, Inc		79
	723		Kuehne & Nagel International AG.		106
	459		Landstar System, Inc		52
	1,516,864		MTR Corp		8,507
	2,378	e	Nippon Yusen Kabushiki Kaisha		40
	99,833		Norfolk Southern Corp		17,936
	98,900		Singapore Airlines Ltd		654
	238,617		Southwest Airlines Co		12,888
	14,066		Sydney Airport		76
	1,141,067		Transurban Group (ASE)		11,328
	301,978		United Parcel Service, Inc (Class B)		36,183
	200		West Japan Railway Co		17
			TOTAL TRANSPORTATION		203,601
UTILITIES - 2.5%
	161,542	e	AltaGas Ltd		2,372
	335,135		American Electric Power Co, Inc		31,399
	26,096		American Water Works Co, Inc		3,242
	500,415		APA Group (ASE)		3,876
	4,270		Aqua America, Inc		191
	7,166		Avista Corp		347
	104,077		Centerpoint Energy, Inc		3,141
	436,300		Chubu Electric Power Co, Inc		6,329
	6,318		Clearway Energy, Inc (Class A)		110
	19,786		Clearway Energy, Inc (Class C)		361
	949		CMS Energy Corp		61
	251,199		Consolidated Edison, Inc		23,731
	130,218		Dominion Resources, Inc		10,553

417

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	11,093		DTE Energy Co	$	1,475
	58,257		Enagas		1,347
	2,395,495		Enel S.p.A.		17,893
	10,425		Energias de Portugal S.A.		40
	188,278		Eversource Energy		16,092
	57,673		FirstEnergy Corp		2,782
	101,463		Fortis, Inc		4,289
	260,014		Gas Natural SDG S.A.		6,896
	5,476,461		Hong Kong & China Gas Ltd		10,674
	435,000		Hong Kong Electric Holdings Ltd		2,920
	1,701,250		Iberdrola S.A.		17,682
	14,562		Idacorp, Inc		1,641
	142,000		Kyushu Electric Power Co, Inc		1,342
	646,471		Meridian Energy Ltd		2,105
	1,289,241		National Grid plc		13,959
	37,537		New Jersey Resources Corp		1,697
	3,431		ONE Gas, Inc		330
	72,846	g	Orsted AS		6,772
	4,169		Pattern Energy Group, Inc		112
	3,980		Pinnacle West Capital Corp		386
	292,099		Public Service Enterprise Group, Inc		18,134
	682,296		Scottish & Southern Energy plc		10,438
	247,858		Sempra Energy		36,586
	1,687,985		Snam Rete Gas S.p.A.		8,526
	87,681		South Jersey Industries, Inc		2,886
	683,440		Southern Co		42,216
	56,982		TerraForm Power, Inc		1,038
	400		Tokyo Gas Co Ltd		10
	673,588		United Utilities Group plc		6,837
	145,186		WEC Energy Group, Inc		13,807
	248,120		Xcel Energy, Inc		16,101
			TOTAL UTILITIES		352,726
			TOTAL COMMON STOCKS		8,558,467
			(Cost $6,972,298)
PREFERRED STOCKS - 0.2%
BANKS - 0.1%
	233,115	*,e	Federal Home Loan Mortgage Corp		3,052
	740,991	*,e	Federal National Mortgage Association		9,892
			TOTAL BANKS		12,944
REAL ESTATE - 0.1%
	390,000	*	Brookfield Property Partners LP		10,124
			TOTAL REAL ESTATE		10,124
			TOTAL PREFERRED STOCKS		23,068
			(Cost $34,103)
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)

418

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE		MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 1.6%
GOVERNMENT AGENCY DEBT - 0.3%
$	22,550,000		Federal Home Loan Bank (FHLB)	1.500	%	10/01/19	$	22,550
	18,600,000		FHLB	1.900		10/03/19		18,598
			TOTAL GOVERNMENT AGENCY DEBT					41,148
TREASURY DEBT - 0.1%
	6,550,000		United States Treasury Bill	2.038		10/01/19		6,550
	7,400,000		United States Treasury Bill	1.743-1.977		10/17/19		7,394
			TOTAL TREASURY DEBT					13,944
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.2%
	174,869,850	c	State Street Navigator Securities Lending Government Money Market Portfolio					174,870
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES					174,870
			TOTAL SHORT-TERM INVESTMENTS					229,962
			(Cost $229,962)
			TOTAL INVESTMENTS - 100.8%					14,469,675
			(Cost $12,647,326)
			OTHER ASSETS & LIABILITIES, NET - (0.8)%					(109,905	)
			NET ASSETS - 100.0%				$	14,359,770

	Abbreviation(s):
	ADR	American Depositary Receipt
	DGS5	5-Year Treasury Constant Maturity Rate
	EUR	Euro
	LIBOR	London Interbank Offered Rate
	M	Month
	OTC	Over The Counter
	REIT	Real Estate Investment Trust
	SOFR	Secure Overnight Financing Rate
*	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 $236,855,582.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 9/30/19, the aggregate value of these securities was $1,387,096,529 or 9.7% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
j	Zero coupon
k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
	Cost amounts are in thousands.

419

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

Forward foreign currency contracts outstanding as of September 30, 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)
$	7,126	EUR	6,490	Australia & New Zealand Banking Group	11/27/19		$22

Abbreviation(s):
EUR	Euro

420

COLLEGE RETIREMENT EQUITIES FUND – Notes to Schedules 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 of Trustees (“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 September 30, 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 September 30, 2019, based on the inputs used to value them (dollar amounts are in thousands):

Account	Level 1			Level 2		Level 3		Total
Stock
Corporate bonds	$	—		$	24	$	—	$	24
Government bonds		—			301		—		301
Equity investments:
Communication services		7,552,847			2,104,258		257		9,657,362
Consumer discretionary		8,436,062			3,625,534		2		12,061,598
Consumer staples		5,256,932			3,089,889		5,463		8,352,284
Energy		3,454,988			1,772,586		669		5,228,243
Financials		10,577,389			6,109,096		3,022		16,689,507
Health care		10,340,939			2,918,472		63		13,259,474
Industrials		8,186,846			4,222,584		1,212		12,410,642
Information technology		17,025,241			3,358,719		27		20,383,987
Materials		2,402,944			2,656,990		459		5,060,393
Real estate		2,939,558			1,657,931		6,864		4,604,353
Utilities		2,437,695			1,087,657		—		3,525,352
Short-term investments		—			2,980,990		—		2,980,990
Purchased options**		7,383			—		—		7,383
Written options**		(2,590	)		—		—		(2,590	)
Futures contracts**		(4,274	)		—		—		(4,274	)
Forward foreign currency contracts**		—			51		—		51
Total	$	78,611,960		$	35,585,082	$	18,038	$	114,215,080

421

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

Account	Level 1			Level 2		Level 3		Total
Global Equities
Equity investments:
Asia	$	231,303		$	1,818,160	$	13	$	2,049,476
Australasia		—			336,125		2		336,127
Europe		110,424			3,002,316		—		3,112,740
Latin America		85,312			269,665		—		354,977
North America		10,923,183			571,370		—		11,494,553
All other equity investments*		120,638			2,082,352		160		2,203,150
Short-term investments		—			503,842		—		503,842
Written options**		(67	)		—		—		(67	)
Futures contracts**		(724	)		—		—		(724	)
Total	$	11,470,069		$	8,583,830	$	175	$	20,054,074
Growth
Equity investments:
Communication services	$	3,790,258		$	139,066	$	—	$	3,929,324
Consumer discretionary		3,575,732			364,904		—		3,940,636
Consumer staples		1,165,914			116,400		—		1,282,314
Health care		2,800,083			609,634		—		3,409,717
Industrials		1,825,365			357,650		—		2,183,015
Information technology		9,207,356			171,472		—		9,378,828
All other equity investments*		1,921,548			—		—		1,921,548
Short-term investments		257,885			201,761		—		459,646
Total	$	24,544,141		$	1,960,887	$	—	$	26,505,028
Equity Index
Equity investments:
Financials	$	2,558,720		$	—	$	5		2,558,725
Health care		2,542,899			—		7		2,542,906
Materials		549,589			—		56		549,645
All other equity investments*		13,248,553			—		—		13,248,553
Short-term investments		322,959			68,110		—		391,069
Futures contracts**		(656	)		—		—		(656	)
Total	$	19,222,064		$	68,110	$	68	$	19,290,242
Bond Market
Bank loan obligations	$	—		$	27,340	$	—	$	27,340
Corporate bonds		—			4,754,188		167		4,754,355
Government bonds		—			6,566,660		2,938		6,569,598
Structured assets		—			2,488,622		813		2,489,435
Common stocks		163			—		—		163
Preferred stocks		26,546			—		—		26,546
Short-term investments		—			293,735		—		293,735
Forward foreign currency contracts**		—			2,737		—		2,737
Credit default swap contracts**		—			132		—		132
Total	$	26,709		$	14,133,414	$	3,918	$	14,164,041

422

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

Account	Level 1		Level 2		Level 3		Total
Social Choice
Bank loan obligations	$	—	$	16,391	$	3,864	$	20,255
Corporate bonds		—		2,185,415		—		2,185,415
Government bonds		—		2,868,681		628		2,869,309
Structured assets		—		583,034		165		583,199
Equity investments:
Communication services		456,507		150,486		—		606,993
Consumer discretionary		675,501		289,305		—		964,806
Consumer staples		393,970		263,594		—		657,564
Energy		259,961		151,056		—		411,017
Financials		894,917		543,817		3		1,438,737
Health care		774,864		264,278		—		1,039,142
Industrials		635,498		328,205		—		963,703
Information technology		1,235,781		165,782		—		1,401,563
Materials		179,890		211,290		—		391,180
Real estate		266,387		87,717		—		354,104
Utilities		228,418		124,308		—		352,726
Short-term investments		174,870		55,092		—		229,962
Forward foreign currency contracts**		—		22		—		22
Total	$	6,176,564	$	8,288,473	$	4,660	$	14,469,697

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

423