COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2020

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BONDS - 0.1%
GOVERNMENT BONDS - 0.1%
U.S. TREASURY SECURITIES - 0.1%
$	50,000,000		United States Treasury Note		0.011	%	04/30/20	$	50,041
	300,000		United States Treasury Note		1.750		05/15/22		310
			TOTAL U.S. TREASURY SECURITIES						50,351
			TOTAL GOVERNMENT BONDS						50,351
			(Cost $50,323)
			TOTAL BONDS						50,351
			(Cost $50,323)
SHARES			COMPANY
COMMON STOCKS - 98.6%
AUTOMOBILES & COMPONENTS - 1.1%
	25,582	e	AB Dynamics plc						362
	217,363	*	Adient plc						1,971
	16,075		Aisan Industry Co Ltd						75
	1,014,363		Aisin Seiki Co Ltd						24,843
	468,704	*	American Axle & Manufacturing Holdings, Inc						1,692
	412,334		Apollo Tyres Ltd						432
	713,137		Aptiv plc						35,115
	37,205	e	ARB Corp Ltd						326
	29,615	*,e,g	Aston Martin Lagonda Global Holdings plc						72
	1,474	e	Autoneum Holding AG.						92
	99,800	*	BAIC BluePark New Energy Technology Co Ltd						83
	1,412,000	g	BAIC Motor Corp Ltd						555
	134,175		Bajaj Holdings and Investment Ltd						3,577
	16,149		Balkrishna Industries Ltd						168
	575,728		Bayerische Motoren Werke AG.						29,390
	665		Bayerische Motoren Werke AG. (Preference)						28
	488,456		Bharat Forge Ltd						1,508
	34,380		BorgWarner, Inc						838
	4,608		Bosch Ltd						573
	143,904	e	Brembo S.p.A						1,067
	252,427		Bridgestone Corp						7,727
	3,268,235		Brilliance China Automotive Holdings Ltd						2,661
	73,700		BYD Co Ltd						618
	559,962	e	BYD Co Ltd (H shares)						2,987
	7,000		Cayman Engley Industrial Co Ltd						12
	64,302		Ceat Ltd						672
	6,100		Changzhou Xingyu Automotive Lighting Systems Co Ltd						72
	102,000		Chaowei Power Holdings Ltd						26

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,166,009		Cheng Shin Rubber Industry Co Ltd	$	1,184
	826,000	*	China First Capital Group Ltd		19
	443,400		China Motor Corp		364
	2,612,190		Chongqing Changan Automobile Co Ltd		3,850
	220,012		Cie Automotive S.A.		3,366
	168,600		Compagnie Plastic-Omnium S.A.		2,338
	53,007		Continental AG.		3,779
	50,032		Cooper Tire & Rubber Co		816
	16,679	*	Cooper-Standard Holding, Inc		171
	11,589		Cub Elecparts, Inc		43
	19,100		Daido Metal Co Ltd		95
	18,700		Daikyonishikawa Corp		85
	133,060		Daimler AG. (Registered)		3,974
	190,027		Dana Inc		1,484
	137,919		Denso Corp		4,407
	18,000		Depo Auto Parts Ind Co Ltd		26
	236,512	e,g	Dometic Group AB		1,048
	752		Dong Ah Tire & Rubber Co Ltd		16
	1,897,187		Dongfeng Motor Group Co Ltd		1,235
	36,274	*	Dorman Products, Inc		2,005
	6,360,200		Drb-Hicom BHD		1,938
	13,000		Eagle Industry Co Ltd		81
	69,057	*,e	ElringKlinger AG.		291
	21,770	g	Endurance Technologies Ltd		173
	13,882		Exedy Corp		204
	257,517		Exide Industries Ltd		448
	107,146		Faurecia		3,137
	17,700		FCC Co Ltd		257
	130,171		Ferrari NV		20,051
	779,423		Fiat DaimlerChrysler Automobiles NV		5,564
	3,619,319		Ford Motor Co		17,481
	349,532		Ford Otomotiv Sanayi AS		2,596
	37,129	*	Fox Factory Holding Corp		1,559
	291,232		Fuji Heavy Industries Ltd		5,567
	258,180		Futaba Industrial Co Ltd		1,081
	97,800		Fuyao Glass Industry Group Co Ltd		263
	375,600	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		798
	4,354,302		Geely Automobile Holdings Ltd		6,319
	618,754		General Motors Co		12,858
	722,689	*,†,e	General Motors Co		0
	85,268,000	*,†,e	General Motors Co		0
	7,950,000	*,†	General Motors Co		0
	26,439,191	*,†	General Motors Co		0
	6,062,000	*,†	General Motors Co		0
	24,057,000	*,†	General Motors Co		0
	35,983,677	*,†	General Motors Co		0
	40,684,487	*,†,e	General Motors Co		0
	18,507,434	*,†	General Motors Co		0
	4,230,271	*,†,e	General Motors Co		0
	31,919		Gentex Corp		707
	61,155	*	Gentherm, Inc		1,920
	89,536	g	Gestamp Automocion S.A.		226
	42,152		Global & Yuasa Battery Co Ltd		901
	7,000	*	Global PMX Co Ltd		25
	371,254		Goodyear Tire & Rubber Co		2,161
	2,024,589		Great Wall Motor Co Ltd		1,284
	11,400		G-Tekt Corp		116

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	57,700		Guangzhou Automobile Group Co Ltd	$	85
	2,062,165		Guangzhou Automobile Group Co Ltd (Hong Kong)		2,051
	45,448		GUD Holdings Ltd		263
	21,520		Halla Holdings Corp		475
	70,023		Hankook Tire Co Ltd		1,106
	128,845		Hanon Systems		936
	31,321	e	Harley-Davidson, Inc		593
	88,948		Hero Honda Motors Ltd		1,876
	938,682		Honda Motor Co Ltd		21,004
	42,990		Hota Industrial Manufacturing Co Ltd		107
	124,000		Huayu Automotive Systems Co Ltd		373
	135,208		Hyundai Mobis		18,703
	143,292		Hyundai Motor Co		10,323
	45,649		Hyundai Motor Co Ltd (2nd Preference)		2,113
	20,187		Hyundai Motor Co Ltd (Preference)		847
	142,968		Hyundai Wia Corp		3,106
	14,700		Ichikoh Industries Ltd		65
	24,600		Indus Motor Co Ltd		108
	214,051		Isuzu Motors Ltd		1,417
	12,033		Kasai Kogyo Co Ltd		59
	9,496	*	Kayaba Industry Co Ltd		181
	21,206		Keihin Corp		496
	185,455		Kenda Rubber Industrial Co Ltd		159
	673,240		Kia Motors Corp		14,171
	45,566		Knorr-Bremse AG.		4,006
	45,787	*	Koito Manufacturing Co Ltd		1,539
	311,285		Kordsa Teknik Tekstil AS.		445
	20,766	*	Kumho Tire Co, Inc		52
	34,980		LCI Industries, Inc		2,338
	9,110		Lear Corp		740
	15,980	*	Leoni AG.		102
	52,002		Linamar Corp		1,076
	342,404		Magna International, Inc		10,927
	567		Maharashtra Scooters Ltd		15
	1,740,258		Mahindra & Mahindra Ltd		6,498
	97,214	*	Mahindra CIE Automotive Ltd		89
	222,600		Mahle-Metal Leve S.A. Industria e Comercio		751
	190,386		Mando Corp		3,203
	173,197		Martinrea International, Inc		838
	92,555		Maruti Suzuki India Ltd		5,221
	278,082		Mazda Motor Corp		1,469
	12,840		MGI Coutier		150
	602,613		Michelin (C.G.D.E.) (Class B)		52,780
	13,100		Minda Industries Ltd		41
	735,536		Minth Group Ltd		1,564
	112,778		Mitsuba Corp		435
	250,294		Mitsubishi Motors Corp		705
	278,481	*	Modine Manufacturing Co		905
	591,107		Motherson Sumi Systems Ltd		472
	18,989	*	Motorcar Parts of America, Inc		239
	23,738		Musashi Seimitsu Industry Co Ltd		182
	164,949		Nan Kang Rubber Tire Co Ltd		214
	145,500	e,g	Nemak SAB de C.V.		24
	4,397		Nexen Corp		13
	94,656		Nexen Tire Corp		363
	682,000		Nexteer Automotive Group Ltd		338

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	532,420		NGK Spark Plug Co Ltd	$	7,463
	101,229	*	NHK Spring Co Ltd		660
	44,612		Nifco, Inc		799
	5,446	e	Nihon Tokushu Toryo Co Ltd		40
	51,300	*	Ningbo Joyson Electronic Corp		135
	594,100	*,e	NIO, Inc (ADR)		1,652
	23,953		Nippon Seiki Co Ltd		255
	1,828,246	*	Nissan Motor Co Ltd		6,117
	135,933		Nissan Shatai Co Ltd		1,180
	97,300		Nissin Kogyo Co Ltd		1,984
	44,972		NOK Corp		493
	50,905	e	Nokian Renkaat Oyj		1,216
	104,200		Pacific Industrial Co Ltd		902
	682,086	e	Peugeot S.A.		8,880
	2,250,208		Piaggio & C S.p.A.		3,976
	14,494		Piolax Inc		202
	519,767	g	Pirelli & C S.p.A		1,834
	210,279		Porsche AG.		8,790
	43,654		Press Kogyo Co Ltd		97
	32,000	*	Prinx Chengshan Cayman Holding Ltd		30
	32,523,607		PT Astra International Tbk		7,732
	483,600		PT Selamat Sempurna Tbk		34
	944,000		Qingling Motors Co Ltd		192
	209,010	e	Renault S.A.		3,972
	4,161		Riken Corp		105
	93,734		S&T Daewoo Co Ltd		2,115
	24,031		SAF-Holland S.A.		96
	302,200		SAIC Motor Corp Ltd		866
	116,920		Sanyang Industry Co Ltd		75
	31,200		Shoei Co Ltd		652
	37,537		Showa Corp		783
	47,946		SL Corp		517
	32,858		Spartan Motors, Inc		424
	189,980		Sri Trang Agro-Industry PCL (Foreign)		63
	108,200	*,e	Ssangyong Motor Co		126
	40,952		Standard Motor Products, Inc		1,702
	6,135		Stanley Electric Co Ltd		120
	103,754	*	Stoneridge, Inc		1,738
	342,593		Sumitomo Electric Industries Ltd		3,579
	12,959		Sumitomo Rubber Industries, Inc		122
	10,366		Sundram Fasteners Ltd		40
	12,119		Sungwoo Hitech Co Ltd		25
	7,175		Suprajit Engineering Ltd		11
	104,724		Suzuki Motor Corp		2,494
	14,700		Tachi-S Co Ltd		133
	6,798		Taiho Kogyo Co Ltd		34
	7,750,312	*	Tata Motors Ltd		7,196
	18,296	*	Tata Motors Ltd (ADR)		86
	11,200		Teikoku Piston Ring Co Ltd		119
	50,400	*	Tenneco, Inc		181
	391,004	*,n	Tesla, Inc		204,886
	6,100		Thor Industries, Inc		257
	121,521	*,e,g	TI Fluid Systems plc		222
	6,196,000	e	Tianneng Power International Ltd		4,579
	80,947		Tokai Rika Co Ltd		1,001
	19,335		Tokai Rubber Industries, Inc		105
	72,699		Tong Yang Industry Co Ltd		76

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,168		Topre Corp	$	190
	351,303	e	Toyo Tire & Rubber Co Ltd		4,016
	57,288		Toyoda Gosei Co Ltd		975
	34,095		Toyota Boshoku Corp		403
	101,678		Toyota Industries Corp		4,848
	4,275,820	*	Toyota Motor Corp		257,682
	4,512		Trigano S.A.		286
	60,900		TS Tech Co Ltd		1,431
	67,424		Tube Investments of India Ltd		245
	13,400		Tupy S.A.		34
	60,300		UMW Holdings BHD		30
	20,000		Unipres Corp		178
	111,407		Valeo S.A.		1,813
	27,586	*	Visteon Corp		1,324
	82,002		Volkswagen AG.		10,758
	31,933		Volkswagen AG. (Preference)		3,679
	4,935		WABCO India Ltd		400
	47,100		Weifu High-Technology Group Co Ltd		125
	31,355		Winnebago Industries, Inc		872
	2,031,657		Xingda International Holdings Ltd		493
	1,335,353		Xinyi Glass Holdings Co Ltd		1,525
	254,000	g	Yadea Group Holdings Ltd		71
	107,174		Yamaha Motor Co Ltd		1,289
	81,570		Yokohama Rubber Co Ltd		1,011
	9,700		Yorozu Corp		94
	181,000		Yulon Motor Co Ltd		87
			TOTAL AUTOMOBILES & COMPONENTS		1,001,226
BANKS - 5.7%
	6,584		1st Constitution Bancorp		87
	52,619		1st Source Corp		1,706
	90,366		77 Bank Ltd		1,161
	29,490		Aareal Bank AG.		485
	18,948	*	Aavas Financiers Ltd		300
	1,293,573	g	ABN AMRO Group NV (ADR)		10,497
	1,215,143		Absa Group Ltd		5,055
	2,385,311		Abu Dhabi Commercial Bank PJSC		2,977
	8,937		ACNB Corp		268
	310,000	*	Addiko Bank AG.		2,800
	62,111,649		Agricultural Bank of China Ltd		24,799
	2,966,200		Agricultural Bank of China Ltd (Class A)		1,405
	13,463,201		AIB Group plc		14,928
	17,247		Aichi Bank Ltd		506
	2,465,817	*	Akbank TAS		2,071
	7,300		Akita Bank Ltd		105
	56,246		Aktia Bank Oyj		440
	1,056,848		Al Rajhi Bank		15,133
	1,953,496	*	Alinma Bank		10,695
	19,448	*	Alior Bank S.A.		60
	25,584		Allegiance Bancshares, Inc		617
	199,800		Alliance Financial Group BHD		88
	1,154,490	*	Alpha Bank AE		855
	315,270	*,†	Amagerbanken AS		0

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	46,979		Amalgamated Bank	$	508
	20,040	*,e	Amerant Bancorp Inc		308
	10,448		American National Bankshares, Inc		250
	60,655		Ameris Bancorp		1,441
	9,466		Ames National Corp		194
	3,614,538		AMMB Holdings BHD		2,507
	9,200		Aomori Bank Ltd		223
	50,349		Aozora Bank Ltd		961
	495,362		Arab National Bank		2,388
	21,866		Arrow Financial Corp		609
	17,780	e	Aruhi Corp		201
	1,626,065		Ashikaga Holdings Co Ltd		3,298
	19,153		Associated Banc-Corp		245
	120,317	*	Atlantic Capital Bancshares, Inc		1,428
	220,962		Atlantic Union Bankshares Corp		4,839
	151,324	g	AU Small Finance Bank Ltd		1,004
	3,449,367		Australia & New Zealand Banking Group Ltd		36,175
	17,044		Awa Bank Ltd		359
	2,279,403		Axis Bank Ltd		11,396
	57,500	*,e	Axos Financial, Inc		1,042
	44,889		Banc of California, Inc		359
	148,094	*,e	Banca Monte dei Paschi di Siena S.p.A		183
	663,464		Banca Popolare dell’Emilia Romagna Scrl		2,019
	235,292		Banca Popolare di Sondrio SCARL		355
	51,331		Bancfirst Corp		1,713
	635,958		Banche Popolari Unite Scpa		1,647
	428,854		Banco ABC Brasil S.A.		1,093
	15,400		Banco BBVA Argentina S.A. (ADR)		40
	1,470,636		Banco Bilbao Vizcaya Argentaria S.A.		4,554
	1,066,860	*,e	Banco BPM S.p.A.		1,376
	1,511,056		Banco Bradesco S.A.		5,470
	4,966,078		Banco Bradesco S.A. (Preference)		19,851
	45,172,728	e	Banco Comercial Portugues S.A.		5,077
	36,492,026		Banco de Chile		2,946
	36,258	*	Banco de Credito e Inversiones		1,229
	3,442,294		Banco de Oro Universal Bank		6,959
	1,028,896		Banco de Sabadell S.A.		520
	172,200	g	Banco del Bajio S.A.		149
	2,197,782		Banco do Brasil S.A.		11,797
	278,300		Banco do Estado do Rio Grande do Sul		639
	16,063,377	*,†	Banco Espirito Santo S.A.		177
	407,300		Banco Inter SA		2,476
	6,766,447		Banco Itau Holding Financeira S.A.		30,068
	40,700		Banco Macro S.A. (ADR) (Class B)		691
	872,500		Banco Pan S.A.		794
	773,048		Banco Santander Brasil S.A.		3,968
	51,676,046		Banco Santander Chile S.A.		1,992
	426,490		Banco Santander S.A.		1,014
	5,848,250		Banco Santander S.A. (AQXE)		13,912
	305,610		BanColombia S.A.		1,813
	797,313		BanColombia S.A. (Preference)		5,398
	169,856		BancorpSouth Bank		3,214
	509,056	g	Bandhan Bank Ltd		1,367
	1,257,700		Bangkok Bank PCL (Foreign)		3,895

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	347,705		Bank AlBilad	$	1,873
	1,088,600		Bank Alfalah Ltd		208
	756,298		Bank Al-Jazira		2,269
	5,779	e	Bank First Corp		324
	293,174		Bank Hapoalim Ltd		1,757
	372,315		Bank Leumi Le-Israel		2,053
	581,646	*	Bank Millennium S.A.		449
	15,563,820		Bank of America Corp		330,420
	644,300		Bank of Beijing Co Ltd		437
	177,400		Bank of Chengdu Co Ltd		187
	1,291,300		Bank of China Ltd		631
	108,936,572		Bank of China Ltd (Hong Kong)		41,468
	14,096		Bank of Commerce Holdings		111
	1,649,700		Bank of Communications Co Ltd		1,196
	19,781,846		Bank of Communications Co Ltd (Hong Kong)		12,048
	1,071,783		Bank of East Asia Ltd		2,290
	93,931		Bank of Georgia Group plc		1,066
	72,200		Bank of Guiyang Co Ltd		78
	139,400		Bank of Hangzhou Co Ltd		151
	4,909		Bank of Hawaii Corp		271
	26,126,862		Bank of Ireland Group plc		48,702
	7,659		Bank of Iwate Ltd		190
	465,400		Bank of Jiangsu Co Ltd		393
	138,394		Bank of Kaohsiung		42
	293,224		Bank of Kyoto Ltd		9,293
	34,713		Bank of Marin Bancorp		1,041
	531,660		Bank of Montreal		26,846
	25,410		Bank of Nagoya Ltd		614
	293,500		Bank of Nanjing Co Ltd		298
	278,800		Bank of Ningbo Co Ltd		901
	1,237,497		Bank of Nova Scotia		50,536
	346,302		Bank of NT Butterfield & Son Ltd		5,898
	10,700		Bank of Okinawa Ltd		312
	5,445		Bank of Princeton		127
	294,137	e	Bank of Queensland Ltd		903
	28,808		Bank of Saga Ltd		306
	488,068		Bank of Shanghai Co Ltd		564
	771,446		Bank of the Philippine Islands		939
	89,505		Bank of the Ryukyus Ltd		877
	15,141		Bank OZK		253
	152,383		Bank Pekao S.A.		2,042
	72,300,157		Bank Rakyat Indonesia		13,260
	29,657		Bank Zachodni WBK S.A.		1,237
	3,716		Bank7 Corp		30
	64,533		BankFinancial Corp		569
	119,644	e	Bankia S.A.		130
	499,044		Bankinter S.A.		1,810
	76,229		BankUnited		1,425
	6,562		Bankwell Financial Group, Inc		100
	51,698		Banner Corp		1,708
	1,561		Banque Cantonale Vaudoise		1,278
	482,143		Banque Saudi Fransi		3,309
	48,122		Bar Harbor Bankshares		832

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,934,923		Barclays plc	$	6,745
	1,576,326	g	BAWAG Group AG.		43,972
	13,556	*	Baycom Corp		163
	17,788		BCB Bancorp, Inc		189
	432,342	e	Bendigo Bank Ltd		1,661
	226,031		Berkshire Hills Bancorp, Inc		3,359
	704,189		BNP Paribas S.A.		20,559
	4,954,816		BOC Hong Kong Holdings Ltd		13,601
	3,447		BOK Financial Corp		147
	79,501		Boston Private Financial Holdings, Inc		568
	11,183	*	BRE Bank S.A.		598
	20,034		Bridge Bancorp, Inc		424
	57,845	*	Bridgewater Bancshares, Inc		564
	231,117		Brookline Bancorp, Inc		2,607
	19,729		Bryn Mawr Bank Corp		560
	291,692		BS Financial Group, Inc		1,059
	4,396,719		Bumiputra-Commerce Holdings BHD		3,659
	11,058		Business First Bancshares, Inc		149
	50,498		Byline Bancorp, Inc		524
	2,848		C&F Financial Corp		114
	331,470		Cadence BanCorp		2,171
	3,382,524		CaixaBank S.A.		6,260
	5,253	e	Cambridge Bancorp		273
	14,504		Camden National Corp		456
	54,140		Can Fin Homes Ltd		200
	473,829	e	Canadian Imperial Bank of Commerce		27,609
	99,292		Canadian Western Bank		1,367
	7,115	*	Capital Bancorp, Inc		89
	12,679		Capital City Bank Group, Inc		255
	107,525		Capitec Bank Holdings Ltd		5,289
	151,821		Capitol Federal Financial		1,763
	14,881		Capstar Financial Holdings, Inc		147
	33,464		Carolina Financial Corp		866
	33,378		Carter Bank & Trust		306
	249,794		Cathay General Bancorp		5,733
	17,116		CBTX, Inc		304
	185,472		Centerstate Banks of Florida, Inc		3,196
	331,027		Central Pacific Financial Corp		5,263
	11,039		Central Valley Community Bancorp		144
	2,927		Century Bancorp, Inc		182
	4,220,056		Chang Hwa Commercial Bank		2,664
	3,544		Chemung Financial Corp		117
	256,354		Chiba Bank Ltd		1,116
	30,535,481		China Citic Bank		15,016
	150,900		China CITIC Bank Corp Ltd		110
	5,074,682		China Construction Bank Corp		4,515
	132,767,159		China Construction Bank Corp (Hong Kong)		107,919
	1,569,600		China Everbright Bank Co Ltd		795
	7,837,685		China Everbright Bank Co Ltd (Hong Kong)		2,981
	3,380,896		China Merchants Bank Co Ltd		15,125
	3,053,574		China Merchants Bank Co Ltd (Class A)		13,781
	1,714,900	*	China Minsheng Banking Corp Ltd		1,375
	6,465,719		China Minsheng Banking Corp Ltd (Hong Kong)		4,782
	13,106,422		Chinatrust Financial Holding Co		7,718

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,600,084		Chongqing Rural Commercial Bank	$	1,059
	313,500		Chugoku Bank Ltd		2,781
	5,200		Chukyo Bank Ltd		105
	146,050		CIT Group, Inc		2,521
	5,750,582		Citigroup, Inc		242,215
	12,298		Citizens & Northern Corp		246
	2,028,415		Citizens Financial Group, Inc		38,154
	15,653		City Holding Co		1,041
	277,964		City Union Bank Ltd		474
	40,207		Civista Bancshares, Inc		602
	14,405		CNB Financial Corp		272
	7,640	*	Coastal Financial Corp		80
	9,901		Codorus Valley Bancorp, Inc		159
	391,572	*,e	Collector AB		606
	7,606		Colony Bankcorp Inc		95
	71,373		Columbia Banking System, Inc		1,913
	65,049	*	Columbia Financial, Inc		937
	25,871		Comerica, Inc		759
	12,293		Commerce Bancshares, Inc		619
	4,494,524		Commercial Bank of Qatar QSC		4,781
	2,490,245	*	Commercial International Bank		9,235
	1,293,097		Commerzbank AG.		4,603
	1,714,932		Commonwealth Bank of Australia		64,704
	69,183		Community Bank System, Inc		4,068
	19,673		Community Bankers Trust Corp		95
	3,658		Community Financial Corp		81
	24,325		Community Trust Bancorp, Inc		773
	287,360		Concordia Financial Group Ltd		836
	185,152		ConnectOne Bancorp, Inc		2,488
	72,231,375		Corpbanca S.A.		188
	133,808		Credicorp Ltd (NY)		19,144
	2,636,792		Credit Agricole S.A.		18,658
	201,183		Credito Emiliano S.p.A.		844
	3,276,344	*	Credito Valtellinese S.p.A		175
	49,953	*	CrossFirst Bankshares, Inc		420
	6,724		Cullen/Frost Bankers, Inc		375
	30,252	*	Customers Bancorp, Inc		331
	190,746		CVB Financial Corp		3,824
	1,149,795	*	CYBG plc		877
	5,646,074	*,†	Cyprus Popular Bank Public Co Ltd		62
	209,227		Dah Sing Banking Group Ltd		181
	146,308		Dah Sing Financial Holdings Ltd		413
	20,286		Daishi Hokuetsu Financial Group, Inc		441
	283,745	*	Danske Bank AS		3,158
	2,184,624		DBS Group Holdings Ltd		28,505
	118,275	g	Deutsche Pfandbriefbank AG.		893
	206,322		Development Credit Bank Ltd		259
	48,076		DGB Financial Group Co Ltd		180
	45,646		Dime Community Bancshares		626
	1,032,655		DNB NOR Holding ASA		11,505
	325,203	*	Doha Bank QSC		159
	4,364,405		Dubai Islamic Bank PJSC		4,262
	9,146,296		E.Sun Financial Holding Co Ltd		7,301

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,822		Eagle Bancorp, Inc	$	1,445
	256,628		East West Bancorp, Inc		6,606
	121,000	*	EastWest Banking Corp		18
	15,075		Ehime Bank Ltd		163
	9,864		Enterprise Bancorp, Inc		266
	87,587		Enterprise Financial Services Corp		2,445
	13,290		Equitable Group, Inc		548
	15,653	*	Equity Bancshares, Inc		270
	856,343		Erste Bank der Oesterreichischen Sparkassen AG.		15,678
	6,681	*	Esquire Financial Holdings, Inc		101
	6,855		ESSA Bancorp, Inc		94
	445,775		Essent Group Ltd		11,742
	2,236,603	*	Eurobank Ergasias S.A.		936
	4,874		Evans Bancorp, Inc		118
	454,777		Far Eastern International Bank		151
	11,178	e	Farmers & Merchants Bancorp, Inc		290
	24,403		Farmers National Banc Corp		284
	16,334	e	FB Financial Corp		322
	31,694		Federal Agricultural Mortgage Corp (Class C)		1,763
	311,570		Federal Bank Ltd		168
	40,944		FIBI Holdings Ltd		1,157
	2,325	e	Fidelity D&D Bancorp, Inc		119
	2,325,977		Fifth Third Bancorp		34,541
	44,943		Financial Institutions, Inc		815
	1,039,029	e	FinecoBank Banca Fineco S.p.A		9,348
	112,455		First Bancorp (NC)		2,595
	695,687		First Bancorp (Puerto Rico)		3,701
	10,771		First Bancorp, Inc		237
	15,445		First Bancshares, Inc		295
	15,659		First Bank		109
	134,287		First Busey Corp		2,298
	7,757		First Business Financial Services, Inc		120
	3,296	e	First Capital Inc		197
	10,909		First Choice Bancorp		164
	3,447		First Citizens Bancshares, Inc (Class A)		1,147
	487,274		First Commonwealth Financial Corp		4,454
	17,257		First Community Bancshares, Inc		402
	133,875		First Defiance Financial Corp		1,973
	95,536		First Financial Bancorp		1,424
	128,425		First Financial Bankshares, Inc		3,447
	15,005		First Financial Corp		506
	6,619,342		First Financial Holding Co Ltd		4,277
	5,220		First Financial Northwest, Inc		52
	163,035		First Foundation, Inc		1,666
	5,739	e	First Guaranty Bancshares, Inc		83
	115,048		First Hawaiian, Inc		1,902
	38,682		First Horizon National Corp		312
	195,327		First International Bank Of Israel Ltd		4,719
	21,044		First Internet Bancorp		346
	139,660		First Interstate Bancsystem, Inc		4,028
	210,761		First Merchants Corp		5,583
	14,212		First Mid-Illinois Bancshares, Inc		337
	105,442		First Midwest Bancorp, Inc		1,396
	20,345		First National Financial Corp		360

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,852		First Northwest Bancorp	$	107
	47,050	e	First of Long Island Corp		816
	295,415		First Republic Bank		24,307
	219,966		Flagstar Bancorp, Inc		4,362
	30,482		Flushing Financial Corp		407
	37,327		FNB Corp		275
	17,429		FNCB Bancorp Inc		120
	109,872		Franklin Financial Network, Inc		2,240
	3,231		Franklin Financial Services Corp		89
	5,985		FS Bancorp, Inc		215
	22,931		Fukuoka Financial Group, Inc		302
	223,573		Fulton Financial Corp		2,569
	12,363	*	FVCBankcorp, Inc		165
	60,530	e	Genworth MI Canada, Inc		1,345
	1,202,226	e	Genworth Mortgage Insurance Australia Ltd		1,634
	24,731		German American Bancorp, Inc		679
	85,931		Glacier Bancorp, Inc		2,922
	10,476		Great Southern Bancorp, Inc		423
	173,252		Great Western Bancorp, Inc		3,548
	3,285		Greene County Bancorp, Inc		77
	6,521,995		Grupo Aval Acciones y Valores		1,440
	3,024,769		Grupo Financiero Banorte S.A. de C.V.		8,288
	80,300		Grupo Financiero Galicia S.A. (ADR) (Class B)		566
	1,803,965		Grupo Financiero Inbursa S.A.		1,296
	275,417		Grupo Security S.A.		46
	15,200	e	Grupo Supervielle S.A. (ADR)		24
	7,598		Guaranty Bancshares, Inc		176
	278,600		Gunma Bank Ltd		841
	357,100		Habib Bank Ltd		222
	192,100		Hachijuni Bank Ltd		692
	548,130		Hana Financial Group, Inc		10,312
	231,989		Hancock Whitney Corp		4,528
	741,641		Hang Seng Bank Ltd		12,636
	29,713		Hanmi Financial Corp		322
	55,055	*	HarborOne Northeast Bancorp, Inc		415
	4,140		Hawthorn Bancshares Inc		76
	20,723		HBT Financial, Inc		218
	3,088		HDFC Bank Ltd (ADR)		119
	100,704		Heartland Financial USA, Inc		3,041
	387,407		Heritage Commerce Corp		2,971
	36,511		Heritage Financial Corp		730
	384,605		Hilltop Holdings, Inc		5,815
	2,550		Hingham Institution for Savings		370
	121,602		Hiroshima Bank Ltd		506
	10,600		Hokkoku Bank Ltd		331
	61,660		Hokuhoku Financial Group, Inc		549
	8,033		Home Bancorp, Inc		196
	153,580		Home Bancshares, Inc		1,841
	57,316	*	Home Capital Group, Inc		654
	22,140		HomeStreet, Inc		492
	72,049		HomeTrust Bancshares, Inc		1,147
	599,344		Hong Leong Bank BHD		1,854
	170,773		Hong Leong Credit BHD		536

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	119,995		Hope Bancorp, Inc	$	986
	136,076		Horizon Bancorp		1,342
	2,574,012		Housing Development Finance Corp		55,558
	12,763	*	Howard Bancorp, Inc		139
	6,110,048		HSBC Holdings plc		34,300
	6,118,157		Hua Nan Financial Holdings Co Ltd		3,640
	219,300		Huaxia Bank Co Ltd		199
	154,835		Huntington Bancshares, Inc		1,271
	305,282		Hyakugo Bank Ltd		854
	56,197		Hyakujushi Bank Ltd		1,018
	124,596		IBERIABANK Corp		4,505
	5,745,623		ICICI Bank Ltd		25,002
	308,471		ICICI Bank Ltd (ADR)		2,622
	405,623	*	IDFC Bank Ltd		113
	27,017	*,e	Illimity Bank S.p.A		184
	73,318		Independent Bank Corp (MA)		4,719
	176,718		Independent Bank Corp (MI)		2,274
	116,267		Independent Bank Group, Inc		2,753
	113,214		India Infoline Ltd		111
	294,800		IndusInd Bank Ltd		1,380
	2,209,400		Industrial & Commercial Bank of China Ltd		1,598
	89,154,506		Industrial & Commercial Bank of China Ltd (Hong Kong)		60,819
	4,585,171		Industrial Bank Co Ltd		10,214
	189,289		Industrial Bank of Korea		1,157
	20,079,082		ING Groep NV		102,887
	53,984		International Bancshares Corp		1,451
	16,954,577		Intesa Sanpaolo S.p.A.		27,434
	8,914		Investar Holding Corp		114
	5,710,078		Investimentos Itau S.A. - PR		9,638
	656,047		Investors Bancorp, Inc		5,242
	541,290	*,†	Irish Bank Resolution Corp Ltd		0
	815,336		Israel Discount Bank Ltd		2,377
	477,400		Iyo Bank Ltd		2,401
	41,945	*	Jammu & Kashmir Bank Ltd		7
	179,531	e	Japan Post Bank Co Ltd		1,658
	520,833		JB Financial Group Co Ltd		1,905
	110,800		Jiangsu Changshu Rural Commercial Bank Co Ltd		106
	9,781,453	n	JPMorgan Chase & Co		880,624
	13,061		Juroku Bank Ltd		228
	33,863	*	Jyske Bank		837
	48,400		Kansai Mirai Financial Group, Inc		174
	575,387		Karnataka Bank Ltd		319
	428,259		Karur Vysya Bank Ltd		114
	31,600		Kasikornbank PCL - NVDR		88
	1,444,197		Kasikornbank PCL (Foreign)		3,946
	901,784		KB Financial Group, Inc		25,362
	178,231		KBC Groep NV		8,087
	105,507		Kearny Financial Corp		906
	50,548		Keiyo Bank Ltd		249
	1,043,802		Keycorp		10,824
	48,732		Kiatnakin Bank PCL (Foreign)		57
	257,000		King’s Town Bank		240
	139,419		Kiyo Bank Ltd		2,059

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	70,436		Komercni Banka AS	$	1,328
	2,167,124		Krung Thai Bank PCL (Foreign)		747
	180,400		Kyushu Financial Group, Inc		687
	231,682		Lakeland Bancorp, Inc		2,504
	46,382		Lakeland Financial Corp		1,705
	48,193	e	Laurentian Bank of Canada		1,047
	10,432		LCNB Corp		131
	11,736	*,e	LendingTree, Inc		2,152
	3,834		Level One Bancorp, Inc		69
	1,026,046		Liberbank S.A.		152
	279,792		LIC Housing Finance Ltd		866
	13,417	e	Liechtensteinische Landesbank AG.		746
	26,371	e	Live Oak Bancshares, Inc		329
	70,617,521		Lloyds TSB Group plc		27,608
	22,690		Luther Burbank Corp		208
	358,195		M&T Bank Corp		37,048
	30,190		Macatawa Bank Corp		215
	6,894		Mackinac Financial Corp		72
	5,524	*	MainStreet Bancshares Inc		93
	3,616,405		Malayan Banking BHD		6,239
	299,038		Malaysia Building Society		39
	5,844	*	Malvern Bancorp, Inc		72
	3,438,034		Masraf Al Rayan		3,448
	349,400		MCB Bank Ltd		311
	3,081,705		Mediobanca S.p.A.		16,805
	9,390,363		Mega Financial Holding Co Ltd		8,818
	21,314		Mercantile Bank Corp		451
	31,526		Merchants Bancorp		479
	297,122		Meridian Bancorp, Inc		3,334
	152,098		Meta Financial Group, Inc		3,304
	57,531	*,e	Metro Bank plc		65
	14,987		Metrocity Bankshares, Inc		176
	1,527,701		Metropolitan Bank & Trust		1,198
	22,423	*	Metropolitan Bank Holding Corp		604
	1,191,828		MGIC Investment Corp		7,568
	5,392		Mid Penn Bancorp, Inc		109
	20,777		Midland States Bancorp, Inc		363
	19,926		MidWestOne Financial Group, Inc		417
	8,900,671		Mitsubishi UFJ Financial Group, Inc		33,302
	7,200		Miyazaki Bank Ltd		159
	32,377		Mizrahi Tefahot Bank Ltd		596
	9,948,157		Mizuho Financial Group, Inc		11,413
	6,233	*	MMA Capital Holdings Inc		154
	8,519,175	g	Moneta Money Bank AS		17,546
	269,969	*	Mr Cooper Group, Inc		1,979
	109,068		Musashino Bank Ltd		1,382
	6,967		MutualFirst Financial, Inc		196
	9,799		MVB Financial Corp		125
	14,849		Nanto Bank Ltd		306
	2,636,272		National Australia Bank Ltd		27,043
	263,198		National Bank Holdings Corp		6,290
	2,341,859		National Bank of Abu Dhabi PJSC		6,038
	420,093	e	National Bank of Canada		16,236

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,683,139	*	National Bank of Greece S.A.	$	2,221
	92,500	*	National Bank Of Pakistan		16
	6,999		National Bankshares, Inc		223
	1,432,383		National Commercial Bank		13,203
	139,526		NBT Bancorp, Inc		4,519
	328,503		Nedbank Group Ltd		1,518
	675,514		New York Community Bancorp, Inc		6,343
	146,732	e,g	NIBC Holding NV		1,125
	15,297	*	Nicolet Bankshares, Inc		835
	59,110		Nishi-Nippon Financial Holdings, Inc		332
	434,109	*	NMI Holdings, Inc		5,040
	938,375	*,e	Nordea Bank Abp		5,279
	133,097		North Pacific Bank Ltd		251
	6,579		Northeast Bank		77
	43,301		Northfield Bancorp, Inc		485
	6,161		Northrim BanCorp, Inc		166
	99,756		Northwest Bancshares, Inc		1,154
	422,948	*,e	Norwegian Finans Holding ASA		1,704
	5,294	e	Norwood Financial Corp		141
	781,898		Nova Ljubljanska Banka dd (ADR)		6,450
	8,029	e	Oak Valley Bancorp		126
	269,000		O-Bank Co Ltd		58
	158,899		OceanFirst Financial Corp		2,528
	44,680	*	Ocwen Financial Corp		22
	147,395	e	OFG Bancorp		1,648
	84,907		Ogaki Kyoritsu Bank Ltd		1,705
	3,524		Ohio Valley Banc Corp		106
	7,148		Oita Bank Ltd		126
	478,860		Old National Bancorp		6,316
	77,954		Old Second Bancorp, Inc		539
	1,276,281		OneSavings Bank plc		3,978
	11,031		OP Bancorp		82
	20,756		Opus Bank		360
	18,222		Origin Bancorp, Inc		369
	10,584		Orrstown Financial Services, Inc		146
	449,717		OTP Bank		12,900
	4,229,778		Oversea-Chinese Banking Corp		25,628
	17,170	*	Pacific Mercantile Bancorp		81
	129,311		Pacific Premier Bancorp, Inc		2,436
	285,309		PacWest Bancorp		5,113
	654,311		Paragon Group of Cos plc		2,676
	13,147		Park National Corp		1,021
	11,645		Parke Bancorp, Inc		157
	13,242		PCB Bancorp		130
	47,779		PCSB Financial Corp		668
	6,007	*	PDL Community Bancorp		62
	78,776		Peapack Gladstone Financial Corp		1,414
	6,311		Penns Woods Bancorp, Inc		153
	70,753		PennyMac Financial Services, Inc		1,564
	3,780		Peoples Bancorp of North Carolina, Inc		77
	60,571		Peoples Bancorp, Inc		1,342
	6,748		Peoples Financial Services Corp		268
	84,392		People’s United Financial, Inc		933
	17,124		People’s Utah Bancorp		332

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,418,458	*	Permanent TSB Group Holdings plc	$	3,209
	3,392,051		Ping An Bank Co Ltd		6,068
	8,392		Pinnacle Financial Partners, Inc		315
	10,694	*	Pioneer Bancorp, Inc		111
	59,839	*	Piraeus Bank S.A.		85
	33,517	g	PNB Housing Finance Ltd		72
	1,135,893		PNC Financial Services Group, Inc		108,728
	201,284		Popular, Inc		7,045
	18,850,000	g	Postal Savings Bank of China Co Ltd		11,477
	746,769		Powszechna Kasa Oszczednosci Bank Polski S.A.		4,053
	13,386		Preferred Bank		453
	14,656		Premier Financial Bancorp, Inc		182
	3,513	*	Professional Holding Corp		56
	72,850		Prosperity Bancshares, Inc		3,515
	8,191	*	Provident Bancorp Inc		71
	4,219		Provident Financial Holdings, Inc		64
	207,439		Provident Financial Services, Inc		2,668
	10,024		Prudential Bancorp, Inc		148
	13,503,474		PT Bank Central Asia Tbk		22,752
	613,800		PT Bank Jabar Banten Tbk		27
	25,369,205		PT Bank Mandiri Persero Tbk		7,213
	6,027,319		PT Bank Negara Indonesia		1,406
	716,400		PT Bank Pembangunan Daerah Jawa Timur Tbk		19
	2,903,200		PT Bank Tabungan Negara Tbk		148
	407,800	*	PT Bank Tabungan Pensiunan Nasional Syariah Tbk		53
	2,773,694		Public Bank BHD		10,204
	665,985		Qatar International Islamic Bank QSC		1,325
	964,130		Qatar Islamic Bank SAQ		3,777
	5,436,369		Qatar National Bank		24,843
	66,662		QCR Holdings, Inc		1,805
	1,080,783		Radian Group, Inc		13,996
	795,264		Raiffeisen International Bank Holding AG.		11,439
	18,430		RBB Bancorp		253
	179,302	g	RBL Bank Ltd		321
	4,625		Red River Bancshares Inc		172
	1,154,800		Regional SAB de C.V.		3,042
	533,296		Regions Financial Corp		4,784
	10,222		Reliant Bancorp Inc		115
	87,828		Renasant Corp		1,918
	10,289		Republic Bancorp, Inc (Class A)		340
	43,522	*	Republic First Bancorp, Inc		95
	869,958		Resona Holdings, Inc		2,608
	1,361,539		RHB Capital BHD		1,482
	13,144	*	Richmond Mutual Bancorporation, Inc		134
	77,130		Ringkjoebing Landbobank A.S.		4,268
	27,238		Riverview Bancorp, Inc		136
	1,162,341		Riyad Bank		4,619
	5,200	*,†	Roskilde Bank		0
	1,710,834		Royal Bank of Canada		105,971
	3,387,086		Royal Bank of Scotland Group plc		4,670
	38,597		S&T Bancorp, Inc		1,054
	856,625		Samba Financial Group		4,564
	8,800		San ju San Financial Group, Inc		122

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	129,054	e	Sandy Spring Bancorp, Inc	$	2,922
	73,364		San-In Godo Bank Ltd		369
	646,405		Saudi British Bank		3,452
	9,383		SB One Bancorp		160
	4,907,623		Sberbank of Russia (ADR)		46,132
	49,746	*	Seacoast Banking Corp of Florida		911
	174,600		Security Bank Corp		367
	13,194	*	Select Bancorp, Inc		101
	832,080		Senshu Ikeda Holdings, Inc		1,254
	89,385		ServisFirst Bancshares, Inc		2,621
	375,617		Seven Bank Ltd		969
	2,770,393		Shanghai Commercial & Savings Bank Ltd		3,586
	1,142,100		Shanghai Pudong Development Bank Co Ltd		1,626
	20,700	e	Shiga Bank Ltd		490
	70,078		Shikoku Bank Ltd		553
	598,109		Shinhan Financial Group Co Ltd		13,992
	21,658	*	Shinsei Bank Ltd		287
	25,246		Shizuoka Bank Ltd		153
	12,989		Shore Bancshares, Inc		141
	2,668,500		Siam Commercial Bank PCL (ADR)		5,613
	757,697		Siam Commercial Bank PCL (Foreign)		1,594
	22,874		Sierra Bancorp		402
	81,649		Signature Bank		6,564
	23,686	*,e	Silvergate Capital Corp		226
	140,873		Simmons First National Corp (Class A)		2,592
	23,063,617		SinoPac Financial Holdings Co Ltd		8,404
	241,077	g	Skandiabanken ASA		1,167
	2,259,652	*	Skandinaviska Enskilda Banken AB (Class A)		15,133
	13,149		SmartFinancial, Inc		200
	547,872		Societe Generale		8,975
	2,367,038		South Indian Bank Ltd		178
	21,938		South Plains Financial Inc		340
	54,681		South State Corp		3,211
	9,725	*	Southern First Bancshares, Inc		276
	8,445		Southern Missouri Bancorp, Inc		205
	50,453		Southern National Bancorp of Virginia, Inc		496
	31,629		Southside Bancshares, Inc		961
	91,505		Spar Nord Bank AS		552
	83,145		Sparebank Oestlandet		596
	206,563		SpareBank SR-Bank ASA		1,171
	376,657	e	Sparebanken Midt-Norge		2,398
	340,458		Sparebanken Nord-Norge		1,701
	20,074	*	Spirit of Texas Bancshares, Inc		208
	1,398		St Galler Kantonalbank		575
	1,991,433	e	Standard Bank Group Ltd		11,397
	4,232,298		Standard Chartered plc		23,400
	1,521,595	*	State Bank of India		3,953
	27,230		Sterling Bancorp, Inc		117
	25,980		Sterling Bancorp/DE		271
	56,241		Stock Yards Bancorp, Inc		1,627
	3,378,568		Sumitomo Mitsui Financial Group, Inc		82,077
	663,709		Sumitomo Mitsui Trust Holdings, Inc		19,068
	12,024		Summit Financial Group, Inc		255
	1,002,392	e	Suruga Bank Ltd		3,279

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,239	*	SVB Financial Group	$	1,245
	240,233		Svenska Handelsbanken AB		1,981
	142,083	*	Swedbank AB (A Shares)		1,567
	30,431	*	Sydbank AS		425
	246,741		Synovus Financial Corp		4,333
	538,303		Taichung Commercial Bank		184
	5,740,613		Taishin Financial Holdings Co Ltd		2,210
	4,070,075		Taiwan Business Bank		1,295
	7,207,069		Taiwan Cooperative Financial Holding		4,352
	1,112,991		TCF Financial Corp		25,220
	384,032		TCS Group Holding plc (ADR)		4,439
	8,863		Territorial Bancorp, Inc		218
	6,001	*	Texas Capital Bancshares, Inc		133
	7,236		Texcell-NetCom Co Ltd		36
	187,664		TFS Financial Corp		2,866
	2,650,600		Thanachart Capital PCL		2,666
	303,496	*	The Bancorp, Inc		1,842
	156,083		Timbercreek Financial Corp		786
	9,204		Timberland Bancorp, Inc		168
	18,598,427		TMB Bank PCL (Foreign)		498
	93,643		Toho Bank Ltd		234
	74,270		Tokyo TY Financial Group, Inc		780
	72,564		Tomony Holdings, Inc		240
	53,826		Tompkins Financial Corp		3,865
	2,309,462		Toronto-Dominion Bank		98,185
	15,900		Towa Bank Ltd		92
	144,099		Towne Bank		2,607
	54,870		Trico Bancshares		1,636
	70,612	*	Tristate Capital Holdings, Inc		683
	23,216	*	Triumph Bancorp, Inc		604
	3,089,687		Truist Financial Corp		95,286
	212,784		Trustco Bank Corp NY		1,151
	76,390		Trustmark Corp		1,780
	2,027,749	*	Turkiye Garanti Bankasi AS		2,487
	133,583	*	Turkiye Halk Bankasi AS		101
	1,305,245	*	Turkiye Is Bankasi (Series C)		931
	21,272,677	*	Turkiye Sinai Kalkinma Bankasi AS		3,024
	119,173		UMB Financial Corp		5,527
	27,096		Umpqua Holdings Corp		295
	417,807	g	Unicaja Banco S.A.		239
	5,565,034		UniCredit S.p.A.		43,054
	317,230	*	Union Bank Of Taiwan		103
	2,278	e	Union Bankshares, Inc		51
	917,500		United Bank Ltd		551
	158,845		United Bankshares, Inc		3,666
	245,317		United Community Banks, Inc		4,492
	1,483,887		United Overseas Bank Ltd		20,359
	10,208		United Security Bancshares		65
	6,807		Unity Bancorp, Inc		80
	117,172		Univest Financial Corp		1,912
	4,607,546		US Bancorp		158,730
	8,188		Valiant Holding		654
	613,345		Valley National Bancorp		4,484

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	300,135		Van Lanschot Kempen NV (ADR)	$	3,666
	47,035		Veritex Holdings, Inc		657
	1,196,022	*	VTB Bank PJSC (GDR) Equiduct		962
	396,904	*	VTB Bank PJSC (GDR) Tradegate		327
	142,456		Walker & Dunlop, Inc		5,737
	91,902		Washington Federal, Inc		2,386
	17,966		Washington Trust Bancorp, Inc		657
	47,124		Waterstone Financial, Inc		685
	10,723		Webster Financial Corp		246
	6,358,676		Wells Fargo & Co		182,494
	63,490		WesBanco, Inc		1,505
	23,577		West Bancorporation, Inc		385
	26,048		Westamerica Bancorporation		1,531
	223,039		Western Alliance Bancorp		6,827
	22,374		Western New England Bancorp, Inc		151
	3,391,798		Westpac Banking Corp		34,836
	6,645		Wintrust Financial Corp		218
	367,303		Woori Financial Group, Inc		2,285
	145,169		WSFS Financial Corp		3,618
	12,400		Yamagata Bank Ltd		152
	266,899		Yamaguchi Financial Group, Inc		1,505
	13,958		Yamanashi Chuo Bank Ltd		95
	298,568		Yes Bank Ltd		89
	93,327		Zions Bancorporation		2,497
			TOTAL BANKS		5,090,479
CAPITAL GOODS - 6.4%
	566,131		3M Co		77,283
	216,449		A.O. Smith Corp		8,184
	190,154		Aalberts Industries NV		4,556
	40,193	e	Aaon, Inc		1,942
	152,499		AAR Corp		2,708
	1,375,722	e	ABB Ltd		23,911
	1,699,447		Aboitiz Equity Ventures, Inc		1,254
	2,071,000		AcBel Polytech, Inc		1,220
	255,439		ACS Actividades de Construccion y Servicios S.A.		5,073
	9,955		Acuity Brands, Inc		853
	738,551		Adani Enterprises Ltd		1,333
	19,721	*,e	Adapteo Oyj		169
	12,900		Advan Co Ltd		130
	277,606		Advanced Drainage Systems, Inc		8,173
	123,700		AECC Aero-Engine Control Co Ltd		207
	159,100		AECC Aviation Power Co Ltd		471
	483,149	*	Aecom Technology Corp		14,422
	216,536		Aecon Group, Inc		1,933
	29,075	*	Aegion Corp		521
	116,988	*	AerCap Holdings NV		2,666
	72,263	*,e	Aerojet Rocketdyne Holdings, Inc		3,023
	24,716	*	Aerovironment, Inc		1,507
	23,464	e	AFG Arbonia-Forster Hldg		184
	21,302	e	AG Growth International Inc		257
	749,469		AGCO Corp		35,412
	36,790		AIA Engineering Ltd		676
	26,352		Aica Kogyo Co Ltd		752

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,100		Aichi Corp	$	101
	174,541		Aida Engineering Ltd		1,104
	159,265		Air Lease Corp		3,526
	724,277		Airbus SE		46,703
	108,000		Airtac International Group		1,592
	9,588		Alamo Group, Inc		851
	98,472		Albany International Corp (Class A)		4,661
	114,410		Alfa Laval AB		1,959
	5,182,314	e	Alfa S.A. de C.V. (Class A)		1,398
	18,259	g	Alimak Group AB		160
	204,571		Allegion plc		18,825
	19,375,918	*	Alliance Global Group, Inc		2,652
	13,379		Allied Motion Technologies, Inc		317
	521,451		Allison Transmission Holdings, Inc		17,004
	19,363		Alstom Projects India Ltd		121
	67,957		Alstom RGPT		2,806
	51,526		Alstom T&D India Ltd		49
	135,782		Altra Industrial Motion Corp		2,375
	202,332		Amada Co Ltd		1,586
	4,368		Amara Raja Batteries Ltd		28
	36,527	*	Ameresco, Inc		622
	21,318	*,e	American Superconductor Corp		117
	19,602	*	American Woodmark Corp		893
	358,629		Ametek, Inc		25,828
	18,533	*,e	Andritz AG.		581
	14,787		Anest Iwata Corp		136
	24,853		Apogee Enterprises, Inc		517
	128,901		Applied Industrial Technologies, Inc		5,893
	22,116	*,e	Aprogen KIC, Inc		36
	1,712,753		Arabtec Holding Co		213
	206,654		Arcadis NV		3,325
	70,892		Arcosa, Inc		2,817
	14,521		Argan, Inc		502
	182,465	*	Armstrong Flooring, Inc		261
	73,065		Armstrong World Industries, Inc		5,803
	25,900		Asahi Diamond Industrial Co Ltd		111
	175,238		Asahi Glass Co Ltd		4,270
	316,890		Aselsan Elektronik Sanayi Ve Ticaret AS		1,123
	781,245		Ashok Leyland Ltd		443
	12,473	*	Ashoka Buildcon Ltd		7
	1,516,685		Ashtead Group plc		32,782
	102,079		Ashtrom Group Ltd		1,134
	1,157,475		Assa Abloy AB		21,609
	22,356		Astec Industries, Inc		782
	50,031		Astral Polytechnik Ltd		618
	56,605	*	Astronics Corp		520
	441,128	*	Atkore International Group, Inc		9,295
	370,601		Atlas Copco AB (A Shares)		12,324
	38,377		Atlas Copco AB (B Shares)		1,116
	83,786	*	ATS Automation Tooling Systems, Inc		980
	1,508,558		Austal Ltd		2,725
	110,800		AVIC Aircraft Co Ltd		245
	152,000	*	AVIC Electromechanical Systems Co Ltd		154

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	50,700	*	AVIC Shenyang Aircraft Co Ltd	$	203
	1,628,719		AviChina Industry & Technology Co		622
	29,900	*	AVICOPTER plc		174
	92,492	*	Axon Enterprise, Inc		6,546
	245,424		Ayala Corp		2,244
	363,967		AZZ, Inc		10,235
	39,944	e	Badger Daylighting Ltd		646
	3,349,971		BAE Systems plc		21,524
	511,204		Balfour Beatty plc		1,357
	211,908	*,e	Ballard Power Systems, Inc		1,607
	16,900		Bando Chemical Industries Ltd		98
	44,263		Barloworld Ltd		161
	46,200		Barnes Group, Inc		1,933
	7,285		BayWa AG.		202
	52,683	*	Beacon Roofing Supply, Inc		871
	180,561	*	Beijer Ref AB		3,242
	97,691	*	Beijing New Building Materials plc		322
	702	*	Belimo Holding AG.		4,474
	2,055		BEML Ltd		12
	591,237	*	Berjaya Corp BHD		30
	272,000		BES Engineering Corp		52
	73,410		Besalco S.A.		25
	6,263		BGF Co Ltd		19
	5,862,188		Bharat Electronics Ltd		5,744
	242,254		Bidvest Group Ltd		1,975
	7,199	e	Biesse S.p.A.		70
	154,570		Bizlink Holdings Inc		831
	310,800	*,e	Bloom Energy Corp		1,625
	45,544	*	Blue Bird Corp		498
	4,903		Blue Star Ltd		30
	8,275	*,e	BlueLinx Holdings, Inc		41
	546,237	*	BMC Stock Holdings, Inc		9,685
	4,278	e	Bobst Group AG.		193
	169,800	g	BOC Aviation Ltd		1,073
	324,492		Bodycote plc		2,272
	1,014,667	n	Boeing Co		151,327
	1,989,726	*	Bombardier, Inc		643
	41,530	e	Boskalis Westminster		756
	3,103	e	Bossard Holding AG.		356
	461,261		Bouygues S.A.		13,386
	43,342		Brenntag AG.		1,575
	52,028	e	Briggs & Stratton Corp		94
	157,000		Brighton-Best International Taiwan, Inc		140
	18,861		Bucher Industries AG.		4,971
	18,407		Budimex S.A.		702
	14,759		Bufab AB		113
	645,955	*	Builders FirstSource, Inc		7,900
	224,100		Bunka Shutter Co Ltd		1,632
	339,586		Bunzl plc		6,797
	4,588		Burckhardt Compression Holding AG.		915
	2,164		Burkhalter Holding AG.		123
	163,070		BWX Technologies, Inc		7,943
	236,507		CAE, Inc		2,990
	92,912	e	Caesarstone Sdot-Yam Ltd		982

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,243	*	CAI International, Inc	$	216
	67,948		Carbone Lorraine		1,238
	9,595		Carborundum Universal Ltd		28
	21,464	e	Cargotec Corp (B Shares)		395
	117,774		Carlisle Cos, Inc		14,755
	1,210,716		Caterpillar, Inc		140,491
	19,000		Central Glass Co Ltd		328
	983		Cera Sanitaryware Ltd		30
	243,125		CH Karnchang PCL		113
	1,272,600	*,e	Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		915
	36,416	*	Chart Industries, Inc		1,055
	79,376		Cheil Industries, Inc		5,792
	380,844		Chicony Power Technology Co Ltd		660
	955,000		China Aircraft Leasing Group Holdings Ltd		836
	48,700		China Avionics Systems Co Ltd		88
	276,000		China Communications Construction Co Ltd		317
	2,920,492		China Communications Construction Co Ltd (Hong Kong)		2,013
	2,109,671		China Communications Services Corp Ltd		1,517
	1,064,500		China Conch Venture Holdings Ltd		4,721
	74,175	*	China Fangda Group Co Ltd		23
	123,200		China Gezhouba Group Co Ltd		120
	97,000	e	China High Speed Transmission Equipment Group Co Ltd		56
	78,520		China International Marine Containers Group Co Ltd		85
	821,000	*	China Lesso Group Holdings Ltd		1,063
	13,000		China Meheco Co Ltd		27
	206,700		China National Chemical Engineering Co Ltd		172
	1,387,743		China Railway Construction Corp		1,534
	620,300		China Railway Construction Corp Ltd		849
	1,077,500		China Railway Group Ltd		809
	2,743,027		China Railway Group Ltd (Hong Kong)		1,451
	157,800	*	China Railway Hi-tech Industry Co Ltd		209
	1,173,200		China Shipbuilding Industry Co Ltd		690
	188,080	*	China Singyes Solar Technologies Holdings Ltd		12
	58,600		China Spacesat Co Ltd		239
	2,403,940		China State Construction Engineering Corp Ltd		1,768
	1,362,685		China State Construction International Holdings Ltd		999
	72,500		China Yuchai International Ltd		780
	1,235,308	*	Chiyoda Corp		2,401
	4,900		Chiyoda Integre Co Ltd		73
	21,760		Chori Co Ltd		309
	15,100		Chudenko Corp		307
	229,095		CIMIC Group Ltd		3,245
	22,159	*	CIRCOR International, Inc		258
	3,764,796		Citic Pacific Ltd		3,902
	531,000		Citic Resources Holdings Ltd		19
	13,679		CJ Corp		720
	3,268,908		CK Hutchison Holdings Ltd		21,788
	25,093		CKD Corp		338
	14,847	*,e	Climeon AB		54
	99,679		CNH Industrial NV		568

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,406,935		CNH Industrial NV (NYSE)	$	13,503
	6,724	g	Cochin Shipyard Ltd		24
	1,304,441	*	Cofide S.p.A.		601
	139,862	*	Colfax Corp		2,769
	109,187		Columbus McKinnon Corp		2,730
	248,469		Comfort Systems USA, Inc		9,082
	33,462	*	Commercial Vehicle Group, Inc		51
	2,418,335		Compagnie de Saint-Gobain		58,029
	3,940	e	Compagnie d’Entreprises CFE		284
	221,347	e	COMSYS Holdings Corp		5,669
	32,060	*,e	Concrete Pumping Holdings Inc		92
	42,599		Construcciones y Auxiliar de Ferrocarriles S.A.		1,335
	40,974	*,e	Construction Partners Inc		692
	116,100		Contemporary Amperex Technology Co Ltd		1,958
	74,450		Continental Engineering Corp		24
	2,893		Conzzeta AG.		2,334
	42,456	*	Cornerstone Building Brands, Inc		194
	12,395		Cosel Co Ltd		112
	696,426		Crane Co		34,250
	3,087,221		CRRC Corp Ltd		1,556
	1,058,200		CRRC Corp Ltd (Class A)		968
	1,228		CS Wind Corp		27
	43,746	*	CSBC Corp Taiwan		25
	55,464		CSW Industrials, Inc		3,597
	559,000		CTCI Corp		541
	30,799		Cubic Corp		1,272
	20,891		Cummins, Inc		2,827
	93,133		Curtiss-Wright Corp		8,606
	96,323		Daelim Industrial Co		5,776
	11,491	e	Daetwyler Holding AG.		1,832
	216,668	*	Daewoo Engineering & Construction Co Ltd		516
	50,777		Daewoo International Corp		470
	33,205	*	Daewoo Shipbuilding & Marine Engineering Co Ltd		363
	28,900		Dai-Dan Co Ltd		776
	67,913	e	Daifuku Co Ltd		4,256
	72,628		Daihen Corp		1,939
	6,671		Daiho Corp		139
	34,220		Daiichi Jitsugyo Co Ltd		1,081
	168,840		Daikin Industries Ltd		20,381
	16,000		Daiwa Industries Ltd		139
	6,363	e	Danieli & Co S.p.A.		77
	61,936		Danieli & Co S.p.A. (RSP)		433
	3,064		Dassault Aviation S.A.		2,516
	100,621		DCC plc		6,284
	887,953		Deere & Co		122,680
	63,300		Denyo Co Ltd		1,123
	62,676		Deutz AG.		228
	61,368	g	Dilip Buildcon Ltd		170
	366,913		Diploma plc		7,346
	95,741	*	DIRTT Environmental Solutions		97
	5,702,049		Dogan Sirketler Grubu Holdings		1,319
	19,250		Donaldson Co, Inc		744
	178,400		Dongfang Electric Corp Ltd		209
	48,880		Doosan Bobcat, Inc		717

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	168,712	*	Doosan Heavy Industries and Construction Co Ltd	$	467
	28,209	*	Doosan Infracore Co Ltd		72
	22,010		Douglas Dynamics, Inc		782
	640,169		Dover Corp		53,736
	392,953	*,†	Drake & Scull International PJSC		1
	1,678,000	*,e	Drone Delivery Canada Corp		835
	124,000	*	DTXS Silk Road Investment Holdings Co Ltd		85
	2,995,772		Dubai Investments PJSC		894
	10,592	*	Ducommun, Inc		263
	25,665		Duerr AG.		521
	63,845	*	DXP Enterprises, Inc		783
	28,912	*	Dycom Industries, Inc		742
	521,300		Dynasty Ceramic PCL		21
	6,076		Eastern Co		118
	2,193,781		Eaton Corp		170,435
	174,961		Ebara Corp		3,291
	1,728		Ecopro BM Co Ltd		86
	12,095		Eicher Motors Ltd		2,084
	126,201		Eiffage S.A.		8,958
	300,700		Ekovest BHD		27
	35,394		Elbit Systems Ltd		4,587
	33,637		Elco Holdings Ltd		1,113
	2,943		Electra Israel Ltd		1,225
	874,876		ElSwedy Cables Holding Co		435
	61,017	*,e,g	Eltel AB		97
	259,230		EMCOR Group, Inc		15,896
	655,290	*,e	Emeco Holdings Ltd		341
	84,291		Emerson Electric Co		4,016
	975,026	*	Empresa Brasileira de Aeronautica S.A.		1,790
	37,789		Encore Wire Corp		1,587
	18,352	*,e	Energous Corp		14
	36,505	*,e	Energy Recovery, Inc		272
	54,444		Enerpac Tool Group Corp		901
	41,798		EnerSys		2,070
	35,551		Engineers India Ltd		28
	97,318		EnPro Industries, Inc		3,852
	138,000		Enric Energy Equipment Holdings Ltd		56
	69,430		Epiroc AB		684
	354,162		Epiroc AB (Class A)		3,500
	62,769		ESCO Technologies, Inc		4,765
	187,541		Escorts Ltd		1,630
	35,000	*	Eve Energy Co Ltd		283
	4,347	*,e	EVI Industries, Inc		69
	518,336	*	Evoqua Water Technologies Corp		5,811
	28,042		Exco Technologies Ltd		107
	10,596	e	FACC AG.		89
	396,461		Famur S.A.		213
	193,436	*	Fangda Carbon New Material Co Ltd		241
	58,499	*	Fanuc Ltd		7,817
	2,900,680		Far Eastern Textile Co Ltd		2,157
	891,816		Fastenal Co		27,869
	312,247		Federal Signal Corp		8,518
	13,378	*	Feelux Co Ltd		52

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,025	e	Feintool International Holding AG.	$	40
	134,504		Ferguson plc		8,317
	407,086		Ferrovial S.A.		9,663
	3,886	*,e	FIGEAC-AERO		19
	264,695	e	Fincantieri S.p.A		160
	556,967		Finmeccanica S.p.A.		3,682
	207,154		Finning International, Inc		2,223
	14,295		Finolex Cables Ltd		38
	72,476		Flowserve Corp		1,731
	21,269	e	FLSmidth & Co AS		477
	25,395	*	Fluidra S.A.		238
	207,618		Fluor Corp		1,435
	62,854		Fomento de Construcciones y Contratas S.A.		512
	1,283,910		Fortive Corp		70,859
	225,761		Fortune Brands Home & Security, Inc		9,764
	2,254,724	e	Fosun International		2,588
	340,922	*	Foundation Building Materials, Inc		3,508
	45,685		Franklin Electric Co, Inc		2,153
	193,269	*	Fuji Electric Holdings Co Ltd		4,334
	111,045	e	Fuji Machine Manufacturing Co Ltd		1,682
	122,878		Fujikura Ltd		352
	95,100		Fujitec Co Ltd		1,216
	3,100		Fukuda Corp		121
	6,439		Fukushima Industries Corp		201
	1,855,000	*,e	Fullshare Holdings Ltd		28
	28,456		Furukawa Co Ltd		278
	55,844		Furukawa Electric Co Ltd		1,006
	49,881		Futaba Corp/Chiba		484
	3,233,991		Gamuda BHD		2,117
	65,300	*	Gates Industrial Corp plc		482
	34,296		GATX Corp		2,146
	809,952		GEA Group AG.		16,732
	9,071		Geberit AG.		3,975
	6,800		Gecoss Corp		49
	163,579	*	GEK Group of Cos S.A.		937
	9,079	*	Gencor Industries, Inc		95
	132,624	*	Generac Holdings, Inc		12,357
	475,177		General Dynamics Corp		62,871
	5,070,364		General Electric Co		40,259
	11,327	*	General Finance Corp		71
	5,639		Georg Fischer AG.		3,848
	135,687	*	Gibraltar Industries, Inc		5,824
	8,001		Giken Seisakusho Co, Inc		260
	23,056		Glory Ltd		530
	139,334	*	GMS, Inc		2,192
	43,536		Godrej Industries Ltd		162
	18,363		Gorman-Rupp Co		573
	118,340		Graco, Inc		5,767
	174,909		GrafTech International Ltd		1,420
	123,328		Grafton Group plc		807
	9,845		Graham Corp		127
	86,450	e	Granite Construction, Inc		1,312
	170,403		Graphite India Ltd		285
	670,884	*	Great Lakes Dredge & Dock Corp		5,568

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,056	*	Greaves Cotton Ltd	$	10
	30,391		Greenbrier Cos, Inc		539
	105,194		Griffon Corp		1,331
	384,984	e	Grupo Carso S.A. de C.V. (Series A1)		756
	11,795	*,e	Grupo Empresarial San Jose		54
	35,600		Grupo Rotoplas SAB de C.V.		24
	64,045		GS Engineering & Construction Corp		1,064
	226,953		GS Yuasa Corp		3,037
	51,700		GT Capital Holdings, Inc		413
	829,152		Gunkul Engineering PCL		55
	43,000		Guoxuan High-Tech Co Ltd		105
	102,691	e	GWA International Ltd		165
	98,386		H&E Equipment Services, Inc		1,444
	608,813		Haitian International Holdings Ltd		1,129
	58,396		Hangzhou Steam Turbine Co		56
	17,679		Hanwa Co Ltd		274
	39,352		Hanwha Corp		488
	370,800		HAP Seng Consolidated BHD		656
	136,000	*	Harbin Power Equipment		31
	19,994	e	Harmonic Drive Systems, Inc		864
	496,470	*	Harsco Corp		3,460
	167,361		Havells India Ltd		1,062
	328,374		Hazama Ando Corp		2,081
	117,500	*,e	HC International, Inc		19
	269,214	*	HD Supply Holdings, Inc		7,654
	45,322		HDC Hyundai Development Co-Engineering & Construction		576
	76,500		Hebei Construction Group Corp Ltd		46
	20,600		Hefei Meiya Optoelectronic Technology, Inc		109
	27,217		HEG Ltd		173
	70,716		HEICO Corp		5,276
	249,514		HEICO Corp (Class A)		15,944
	150,291	*	Heidelberger Druckmaschinen		91
	28,937		Helios Technologies, Inc		1,097
	76,746	*	Herc Holdings, Inc		1,570
	30,935		Hexcel Corp		1,150
	8,028		Hibiya Engineering Ltd		143
	72,074		Hillenbrand, Inc		1,377
	928,512		Hino Motors Ltd		4,952
	4,300		Hirata Corp		181
	10,224		Hisaka Works Ltd		69
	186,626	*,e	Hitachi Construction Machinery Co Ltd		3,743
	83,900		Hitachi Zosen Corp		268
	151,710		Hiwin Technologies Corp		998
	71,763		Hochtief AG.		4,712
	3,198,478		Honeywell International, Inc		427,924
	354,000	*	Hong Kong Finance Investment Holding Group Ltd		36
	32,500		Hongfa Technology Co Ltd		125
	30,850		Hoshizaki Electric Co Ltd		2,308
	10,149		Hosken Consolidated Investments Ltd		16
	14,701		Hosokawa Micron Corp		648
	1,481,364		Howden Joinery Group plc		9,319
	591,829		Howmet Aerospace, Inc		9,505

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	21,500		Huangshi Dongbei Electrical Appliance Co Ltd	$	26
	7,533		Hubbell, Inc		864
	27,561		Huber & Suhner AG.		1,708
	6,042		Hudaco Industries Ltd		24
	62,810		Huntington Ingalls		11,445
	6,614		Hurco Cos, Inc		192
	1,759		Hy-Lok Corp		15
	899	*	Hyosung Heavy Industries Corp		9
	21,377		Hyster-Yale Materials Handling, Inc		857
	2,202	*	Hyundai Construction Equipment Co Ltd		27
	7,198		Hyundai Development Co		43
	3,899	*	Hyundai Electric & Energy System Co Ltd		21
	3,434		Hyundai Elevator Co Ltd		159
	139,147		Hyundai Engineering & Construction Co Ltd		3,103
	72,123	*	Hyundai Heavy Industries		4,583
	6,066		Hyundai Mipo Dockyard		134
	7,270		Hyundai Robotics Co Ltd		1,171
	9,880	*	Hyundai Rotem Co Ltd		99
	14,677		Idec Corp		185
	15,697		IDEX Corp		2,168
	8,618	*	IES Holdings, Inc		152
	2,305,112		IJM Corp BHD		843
	1,400		Iljin Diamond Co Ltd		18
	440,341		Illinois Tool Works, Inc		62,581
	264,138		IMI plc		2,438
	12,007	e	Implenia AG.		417
	114,490	*,e	Impregilo S.p.A.		145
	7,071		IMS-Intl Metal Service		66
	64,923		Inaba Denki Sangyo Co Ltd		1,379
	21,616		Inabata & Co Ltd		235
	9,510		Indus Holding AG.		246
	11,208	e	Industria Macchine Automatiche S.p.A.		657
	1,650,586		Industries Qatar QSC		3,005
	82,382	e	Indutrade AB		2,229
	716,918	*	Ingersoll Rand, Inc		17,780
	65,500		Inner Mongolia First Machinery Group Co Ltd		83
	16,949		Insteel Industries, Inc		225
	65,755		Interpump Group S.p.A.		1,580
	1,848		Interroll Holding AG.		3,057
	345,250		Inwido AB		1,961
	37,700		Iochpe-Maxion S.A.		80
	271,779	*	IRB Infrastructure Developers Ltd		190
	72,811		IS Dongseo Co Ltd		1,333
	8,800		Iseki & Co Ltd		92
	2,059,611		Ishikawajima-Harima Heavy Industries Co Ltd		23,986
	788,850		Italian-Thai Development PCL		18
	34,242		Italmobiliare S.p.A		890
	1,554,061	e	Itochu Corp		32,161
	899,485		ITT, Inc		40,801
	32,538	e	Iwatani International Corp		1,089
	330,514		Jacobs Engineering Group, Inc		26,200
	4,652		Jamco Corp		30
	5,560		Japan Pulp & Paper Co Ltd		193
	30,861		Japan Steel Works Ltd		369

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	227,691		Jardine Matheson Holdings Ltd	$	11,460
	358,888		Jardine Strategic Holdings Ltd		8,021
	188,700	*,e	JDC Corp		921
	100,586	*	JELD-WEN Holding, Inc		979
	2,365,057		JG Summit Holdings (Series B)		2,427
	1,500,596	e	JGC Corp		11,978
	40,676		Jiangsu Hengli Hydraulic Co Ltd		348
	135,600		Jiangsu Zhongtian Technology Co Ltd		180
	30,543		John Bean Technologies Corp		2,268
	255,610	g	John Laing Group plc		1,065
	517,534		Johnson Controls International plc		13,953
	533,429		Johnson Electric Holdings Ltd		836
	73,825	g	JOST Werke AG.		1,780
	214,282		JTEKT Corp		1,447
	24,903		Jungheinrich AG.		379
	1,959	e	Kaba Holding AG.		867
	11,003		Kadant, Inc		821
	45,257		Kajaria Ceramics Ltd		224
	122,913		Kajima Corp		1,256
	8,689		Kalpataru Power Transmission Ltd		21
	51,400	*	Kama Co Ltd		19
	27,428		Kaman Corp		1,055
	10,575		Kamei Corp		99
	56,200		Kanamoto Co Ltd		1,087
	417,700		Kandenko Co Ltd		3,320
	150,700		Kanematsu Corp		1,536
	574,360		KAP Industrial Holdings Ltd		48
	19,726		Kardex AG.		2,713
	11,900		Katakura Industries Co Ltd		117
	31,632		Kawasaki Heavy Industries Ltd		455
	18,835		KCC Corp		1,983
	121,813		KEC International Ltd		299
	9,169		KEI Industries Ltd		32
	64,759		Keihan Electric Railway Co Ltd		2,873
	37,343		Keller Group plc		245
	6,698		Kendrion NV		73
	80,400		Kennametal, Inc		1,497
	2,631		KEPCO Engineering & Construction Co, Inc		32
	1,208,079	e	Keppel Corp Ltd		4,493
	301,772		Kinden Corp		4,440
	15,000		King Slide Works Co Ltd		144
	65,133		Kingspan Group plc		3,512
	110,404		KION Group AG.		4,752
	223,300		Kitz Corp		1,342
	38,846		Kloeckner & Co AG.		141
	611,762		KOC Holding AS		1,237
	7,293		Koenig & Bauer AG.		137
	29,184		Kolon Corp		292
	182,970		Komatsu Ltd		2,961
	1,898	e	Komax Holding AG.		296
	18,590		Komori Corp		126
	112,135		Kone Oyj (Class B)		6,280
	42,795	*	Konecranes Oyj		729

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	121,834		Kongsberg Gruppen ASA	$	1,521
	137,402		Koninklijke BAM Groep NV		193
	88,895		Korea Aerospace Industries Ltd		1,509
	1,032		Korea Electric Terminal Co Ltd		20
	43,652	*	Kornit Digital Ltd		1,086
	88,368	*	Kratos Defense & Security Solutions, Inc		1,223
	8,195		Krones AG.		438
	337,614		Kubota Corp		4,294
	144,404		Kumagai Gumi Co Ltd		3,324
	132,425		Kumho Industrial Co Ltd		676
	168,000		Kung Long Batteries Industrial Co Ltd		735
	124,810		Kurita Water Industries Ltd		2,863
	14,554		Kyokuto Kaihatsu Kogyo Co Ltd		158
	297,155	e	Kyowa Exeo Corp		6,590
	39,322		Kyudenko Corp		1,059
	1,367		Kyung Dong Navien Co Ltd		34
	937,728		L3Harris Technologies, Inc		168,904
	547		Lakshmi Machine Works Ltd		17
	667,262		Larsen & Toubro Ltd		7,114
	4,235	*	Lawson Products, Inc		113
	34,998	*	LB Foster Co (Class A)		433
	60,909		Legrand S.A.		3,885
	55,784		Lennox International, Inc		10,141
	209,502		LG Corp		10,148
	1,257		LG Hausys Ltd		36
	96,122		LG International Corp		717
	40,636		Lifco AB		1,490
	1,820		LIG Nex1 Co Ltd		29
	8,595		Lincoln Electric Holdings, Inc		593
	345,342		Lindab International AB		2,641
	10,615		Lindsay Corp		972
	9,829		LISI		181
	106,586		LIXIL Group Corp		1,313
	455,308		Lockheed Martin Corp		154,327
	8,599,000		Lonking Holdings Ltd		2,543
	55,134		Lotte Corp		1,080
	85,712		LS Cable Ltd		2,014
	28,136		LS Industrial Systems Co Ltd		789
	26,855		Luxfer Holdings plc		380
	16,150	*	Lydall, Inc		104
	24,932		Mabuchi Motor Co Ltd		740
	809,415	e	Maeda Corp		5,945
	10,233		Maeda Kosen Co Ltd		193
	101,593	e	Maeda Road Construction Co Ltd		1,896
	16,856		Magellan Aerospace Corp		78
	76,606	e	Maire Tecnimont S.p.A		118
	11,739		Makino Milling Machine Co Ltd		307
	68,703		Makita Corp		2,096
	450,100		Malaysian Resources Corp BHD		41
	25,597	e	Manitou BF S.A.		387
	33,217	*	Manitowoc Co, Inc		282
	109,400		Marcopolo S.A.		52
	1,342,875		Marubeni Corp		6,665
	1,162,140		Masco Corp		40,175

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	106,226	*	Masonite International Corp	$	5,040
	72,502	*	Mastec, Inc		2,373
	12,800		Max Co Ltd		195
	78,806	e	Maxar Technologies, Inc		842
	1,125		MBB SE		64
	158,200		Megawide Construction Corp		20
	838,281		Meggitt plc		3,013
	17,964		Meidensha Corp		268
	18,800		Meisei Industrial Co Ltd		127
	477,783		Melrose Industries plc		531
	113,039	*	Mercury Systems, Inc		8,064
	68,887	*	Meritor, Inc		913
	790,800		Metallurgical Corp of China Ltd		289
	2,609,000		Metallurgical Corp of China Ltd (Hong Kong)		454
	6,100		METAWATER Co Ltd		217
	64,179		Metso Oyj		1,512
	11,207	*	Middleby Corp		637
	25,394		Mie Kotsu Group Holdings, Inc		119
	54,277		Millat Tractors Ltd		178
	83,453		Miller Industries, Inc		2,360
	379,990	*	Minebea Co Ltd		5,613
	219,862	e	Miraito Holdings Corp		2,730
	246,554		MISUMI Group, Inc		5,333
	1,316,713		Mitsubishi Corp		27,851
	1,457,663		Mitsubishi Electric Corp		17,807
	139,827		Mitsubishi Heavy Industries Ltd		3,524
	13,800		Mitsubishi Nichiyu Forklift Co Ltd		111
	11,850		Mitsuboshi Belting Co Ltd		132
	1,892,887		Mitsui & Co Ltd		26,280
	38,616	*	Mitsui Engineering & Shipbuilding Co Ltd		185
	88,119		Miura Co Ltd		3,116
	46,464		Monadelphous Group Ltd		292
	155,395		MonotaRO Co Ltd		4,106
	237,198		Moog, Inc (Class A)		11,986
	590,939		Morgan Crucible Co plc		1,348
	62,416		Morgan Sindall plc		920
	68,944	e	Mori Seiki Co Ltd		572
	26,700		Morita Holdings Corp		409
	183,404		Mota Engil SGPS S.A.		222
	262,341	*	MRC Global, Inc		1,118
	101,539		MSC Industrial Direct Co (Class A)		5,582
	74,929		MTU Aero Engines Holding AG.		10,834
	336,421		Mueller Industries, Inc		8,054
	475,846		Mueller Water Products, Inc (Class A)		3,812
	66,500		Muhibbah Engineering M BHD		11
	66,721	*,g	Munters Group AB		185
	28,348		Murray & Roberts Holdings Ltd		9
	65,213	*	MYR Group, Inc		1,708
	119,823		Nabtesco Corp		2,741
	7,133		Nachi-Fujikoshi Corp		191
	2,559,228		Nagarjuna Construction Co		634
	225,500		Nagase & Co Ltd		2,650
	225,100		NARI Technology Co Ltd		618

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,506		National Central Cooling Co PJSC	$	31
	5,048		National Presto Industries, Inc		357
	113,673	*	Navistar International Corp		1,874
	88,467		NBCC India Ltd		19
	63,567		NCC AB (B Shares)		831
	631,623	*	NEL ASA		619
	36,569		Nexans S.A.		1,088
	63,917	e	NFI Group, Inc		684
	598,380		NGK Insulators Ltd		7,788
	203,243		Nibe Industrier AB		2,940
	29,940		Nichias Corp		556
	7,500		Nichiden Corp		147
	12,745		Nichiha Corp		241
	151,118		Nidec Corp		7,788
	2,285		Nihon Trim Co Ltd		60
	13,388	*,e	Nilfisk Holding A.S.		171
	83,576		Nippo Corp		1,835
	5,200	e	Nippon Carbon Co Ltd		154
	17,600		Nippon Densetsu Kogyo Co Ltd		342
	6,325		Nippon Koei Co Ltd		172
	17,700		Nippon Road Co Ltd		1,122
	3,572	*	Nippon Sharyo Ltd		90
	47,200	e	Nippon Sheet Glass Co Ltd		144
	16,617		Nippon Steel Trading Co Ltd		560
	28,640		Nippon Thompson Co Ltd		97
	168,200		Nishimatsu Construction Co Ltd		3,211
	9,600		Nishio Rent All Co Ltd		201
	4,095		Nissei ASB Machine Co Ltd		118
	407,832		Nisshinbo Industries, Inc		2,700
	25,200		Nissin Electric Co Ltd		214
	10,200		Nitta Corp		198
	201,700	e	Nitto Boseki Co Ltd		8,840
	93,544		Nitto Kogyo Corp		1,486
	4,773		Nitto Kohki Co Ltd		75
	7,635		Nittoku Engineering Co Ltd		194
	24,813	*	NKT Holding AS		437
	56,102		NN, Inc		97
	2,400	*,†,e	Noble Group Ltd		0	^
	66,807		Nolato AB (B Shares)		3,012
	35,815	*	Nordex AG.		273
	88,222		Nordson Corp		11,916
	4,683		Noritake Co Ltd		148
	14,831		Noritz Corp		162
	16,526		NORMA Group		307
	539,472		Northrop Grumman Corp		163,217
	14,684	*	Northwest Pipe Co		327
	100,985	*	NOW, Inc		521
	1,330,253		NRW Holdings Ltd		1,024
	2,860,855		NSK Ltd		18,210
	207,261		NTN Corp		358
	10,590	*,e	NV5 Global Inc		437
	85,342		nVent Electric plc		1,440
	2,067,711		NWS Holdings Ltd		2,107
	5,846		Obara Corp		124

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	301,913		Obayashi Corp	$	2,562
	1,461,365	*,e	Obrascon Huarte Lain S.A.		923
	260,741		OC Oerlikon Corp AG.		2,064
	5,900		OHB AG.		207
	11,621		Oiles Corp		146
	18,200		Okabe Co Ltd		121
	13,267		Okuma Holdings, Inc		425
	15,400		Okumura Corp		318
	2,896		Omega Flex, Inc		244
	43,014	*,e	Opus Global Rt		24
	59,300		Organo Corp		2,999
	42,100	*	Orion Marine Group, Inc		109
	43,306		OSG Corp		574
	26,955		Oshkosh Corp		1,734
	262,223		OSJB Holdings Corp		579
	56,983	*	OSRAM Licht AG.		2,041
	1,772		Otokar Otobus Karoseri Sanayi AS		28
	341,108	e	Outotec Oyj		1,258
	2,214,933		Owens Corning, Inc		85,962
	260,888		PACCAR, Inc		15,948
	21,601	*,e	Palfinger AG.		397
	547,405		Parker-Hannifin Corp		71,015
	232,882	*	Parsons Corp		7,443
	21,528		Patrick Industries, Inc		606
	306,578		Peab AB (Series B)		2,196
	36,287		Pentair plc		1,080
	583,900	*	Pentamaster Corp BHD		499
	1,367,487		Penta-Ocean Construction Co Ltd		7,160
	54,276		PER Aarsleff A.S.		1,189
	2,559		Pfeiffer Vacuum Technology AG.		368
	114,929	*	PGT, Inc		964
	299,888	*,e	Plug Power, Inc		1,062
	12,667		PNC Infratech Ltd		16
	6,213		Polycab India Ltd		60
	103,725		Polypipe Group plc		585
	779,000		Polyplex PCL (Foreign)		221
	5,926	e	Porr AG.		97
	54,450		Powell Industries, Inc		1,398
	543,000		Power Construction Corp of China Ltd		299
	17,373	*,e	PowerCell Sweden AB		340
	2,757		Preformed Line Products Co		137
	95,732		Primoris Services Corp		1,522
	26,415	*	Proto Labs, Inc		2,011
	48,049		Prysmian S.p.A.		763
	4,934,032		PT Adhi Karya Persero Tbk		161
	1,783,200		PT AKR Corporindo Tbk		215
	2,803,600	*,†	PT Inovisi Infracom Tbk		0	^
	2,889,888		PT Pembangunan Perumahan Tbk		97
	1,455,100	*,†	PT Sitara Propertindo Tbk		18
	1,000,300		PT Waskita Karya Persero Tbk		30
	5,950,523		PT Wijaya Karya		301
	1,237,026		QinetiQ plc		4,912
	10,000		QST International Corp		14

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	145,874		Quanex Building Products Corp	$	1,470
	611,527		Quanta Services, Inc		19,404
	22,500		Raito Kogyo Co Ltd		254
	36,413		Randon Participacoes S.A.		38
	1,769		Rational AG.		936
	35,958		Raven Industries, Inc		763
	759,402		Raytheon Co		99,596
	36,621	*	RBC Bearings, Inc		4,130
	102,000	*,e	Realord Group Holdings Ltd		59
	78,797		Rechi Precision Co Ltd		39
	65,907		Regal-Beloit Corp		4,149
	409,876		Reliance Worldwide Corp Ltd		655
	12,703	*	Resideo Technologies, Inc		61
	372,946		Reunert Ltd		910
	57,013		REV Group, Inc		238
	211,099	e	Rexel S.A.		1,554
	646,400		Rexnord Corp		14,654
	25,000		Rexon Industrial Corp Ltd		35
	81,512		Rheinmetall AG.		5,665
	8,700		Rheon Automatic Machinery Co Ltd		95
	61,128	e	Richelieu Hardware Ltd		966
	1,575	e	Rieter Holding AG.		142
	433,283		Rockwell Automation, Inc		65,387
	15,449		Rockwool International AS (B Shares)		2,783
	2,003,138		Rolls-Royce Group plc		8,466
	483,506		Roper Technologies Inc		150,762
	1,207,182		Rotork plc		3,194
	39,000		Run Long Construction Co Ltd		71
	129,768		Rush Enterprises, Inc (Class A)		4,142
	4,248		Rush Enterprises, Inc (Class B)		130
	198,926		Russel Metals, Inc		1,850
	11,857		Ryobi Ltd		145
	48,452	e	Saab AB (Class B)		921
	200,276		Sacyr Vallehermoso S.A.		303
	61,010		Sadbhav Engineering Ltd		22
	367,749		Safran S.A.		32,581
	70,217		Salfacorp S.A.		23
	151,064	*	Samsung Engineering Co Ltd		1,245
	319,096	*	Samsung Heavy Industries Co Ltd		1,013
	193,766	*	Samsung Techwin Co Ltd		3,241
	20,623		San Shing Fastech Corp		31
	368,471		Sandvik AB		5,183
	319,200		Sanki Engineering Co Ltd		3,574
	83,700		Sankyo Tateyama, Inc		798
	93,741		Sanwa Shutter Corp		728
	194,000		Sany Heavy Equipment International		102
	459,500		Sany Heavy Industry Co Ltd		1,103
	4,400		Sanyo Denki Co Ltd		176
	83,015	*	Saudi Ceramic Co		513
	36,969	e	Savaria Corp		279
	4,611		Schaeffler India Ltd		227
	51,737		Schindler Holding AG.		11,319
	4,064		Schindler Holding AG. (Registered)		851
	968,117		Schneider Electric S.A.		81,828

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	520		Schweiter Technologies AG.	$	507
	800	e	SEC Carbon Ltd		46
	13,695		Sekisui Jushi Corp		250
	829,800		SembCorp Industries Ltd		911
	434,000	*,e	SembCorp Marine Ltd		206
	20,680	*,e	Semperit AG. Holding		270
	217,658	e	Senior plc		188
	231,228	*	Sensata Technologies Holding plc		6,689
	814,582		Service Stream Ltd		910
	236,497		Seven Network Ltd		1,627
	8,751		SFS Group AG.		654
	86,320	*,e	SGL Carbon AG.		232
	54,408	*	SGSB Group Co Ltd		22
	208,700		Shanghai Construction Group Co Ltd		94
	96,980		Shanghai Diesel Engine Co Ltd		37
	336,000		Shanghai Electric Group Co Ltd		216
	2,058,525		Shanghai Electric Group Co Ltd (Hong Kong)		541
	63,200		Shanghai Highly Group Co Ltd		41
	443,908		Shanghai Industrial Holdings Ltd		665
	92,600		Shanghai Mechanical and Electrical Industry Co Ltd		176
	87,500		Shanghai Tunnel Engineering Co Ltd		68
	88,800		Shanghai Waigaoqiao Free Trade Zone Group Co Ltd		182
	64,556	*	Shapir Engineering and Industry Ltd		414
	76,435		Shenzhen Inovance Technology Co Ltd		276
	7,200		Shibuya Kogyo Co Ltd		169
	364,350		Shikun & Binui Ltd		1,283
	14,300		Shima Seiki Manufacturing Ltd		187
	111,782		Shimizu Corp		870
	5,800		Shin Nippon Air Technologies Co Ltd		116
	58,000		Shin Zu Shing Co Ltd		221
	10,500		Shinko Electric Co Ltd		93
	25,300		Shinmaywa Industries Ltd		262
	12,900		Shinnihon Corp		98
	19,208		SHO-BOND Holdings Co Ltd		759
	9,231,469		Shun TAK Holdings Ltd		3,121
	130,800	*	Siasun Robot & Automation Co Ltd		248
	1,192,942		Siemens AG.		99,891
	2,802,140		Siemens Gamesa Renewable Energy		41,349
	57,285		Siemens India Ltd		843
	5,489	e	SIF Holding NV		57
	291,548		SIG plc		83
	466,654	g	Signify NV		9,044
	6,048,713		Sime Darby BHD		2,381
	98,102		Simpson Manufacturing Co, Inc		6,080
	758,000		Singamas Container Holdings Ltd		41
	2,321,469		Singapore Technologies Engineering Ltd		5,079
	87,251		Sinko Industries Ltd		1,118
	204,157		Sino Thai Engineering & Construction PCL		70
	985,000		Sinopec Engineering Group Co Ltd		410
	619,000		Sinotruk Hong Kong Ltd		1,017
	19,961		Sintokogio Ltd		137
	40,430	*	SiteOne Landscape Supply, Inc		2,976
	31,595		SK C&C Co Ltd		4,322

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	40,918		SK Networks Co Ltd	$	152
	279,046	e	Skanska AB (B Shares)		4,199
	380,440	e	SKF AB (B Shares)		5,184
	2,424,600		SKP Resources BHD		434
	210,857		SM Investments Corp		3,373
	28,900	*	SMC Corp		12,116
	86,003		Smiths Group plc		1,297
	86,609		Snap-On, Inc		9,425
	219,478	e	SNC-Lavalin Group, Inc		3,238
	20,900	e	Sodick Co Ltd		124
	990,113		Sojitz Holdings Corp		2,321
	32,337	*	Solaria Energia y Medio Ambiente S.A.		268
	69,711		Spirax-Sarco Engineering plc		6,998
	161,969		Spirit Aerosystems Holdings, Inc (Class A)		3,876
	330,409	*	SPX Corp		10,785
	39,858	*	SPX FLOW, Inc		1,133
	68,471		Stabilus S.A.		2,471
	23,333	*,e	Stadler Rail AG.		1,075
	11,740		Standex International Corp		575
	357,634		Stanley Black & Decker, Inc		35,763
	15,066		Star Micronics Co Ltd		151
	17,785	*,e	Ste Industrielle d’Aviation Latecoere S.A.		41
	10,493		Sterling & Wilson Solar Ltd		11
	86,200	*	Sterling Construction Co, Inc		819
	191,800		STP & I PCL		20
	25,418	e	Sulzer AG.		1,582
	1,084,005		Sumitomo Corp		12,362
	8,382		Sumitomo Densetsu Co Ltd		171
	1,059,295		Sumitomo Heavy Industries Ltd		18,952
	616,817		Sumitomo Mitsui Construction C		2,712
	38,000		Sunonwealth Electric Machine Industry Co Ltd		39
	112,895	*	Sunrun, Inc		1,140
	1,506,422		Sunway Construction Group BHD		528
	52,600		Sunwoda Electronic Co Ltd		104
	2,444,500	*,†,e	Superb Summit International Group Ltd		3
	56,000		Suzhou Gold Mantis Construction Decoration Co Ltd		64
	126,155		Sweco AB (B Shares)		3,582
	57,679		Systemax, Inc		1,023
	50,422	e	Tadano Ltd		360
	336,494		Taeyoung Engineering & Construction		3,130
	13,263		Taihei Dengyo Kaisha Ltd		282
	82,853		Taikisha Ltd		2,383
	130,700		Taisei Corp		3,986
	200,670		Taiwan Glass Industrial Corp		49
	8,300		Takamatsu Corp		178
	17,364		Takara Standard Co Ltd		265
	121,300		Takasago Thermal Engineering Co Ltd		1,855
	17,800		Takeuchi Manufacturing Co Ltd		219
	34,500		Takuma Co Ltd		381
	46,009	*,g	Talgo S.A.		207
	17,019		Tarkett S.A.		159
	19,900		Tatsuta Electric Wire and Cable Co Ltd		84
	156,000		TBEA Co Ltd		159
	1,654,073		Techtronic Industries Co		10,503

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	631,000		Teco Electric and Machinery Co Ltd	$	501
	20,892		Teikoku Sen-I Co Ltd		405
	66,975		Tekfen Holding AS		129
	6,100		Tekken Corp		132
	126,058	*	Teledyne Technologies, Inc		37,473
	17,801		Tennant Co		1,032
	3,106,543	a	Terex Corp		44,610
	54,086	*	Textainer Group Holdings Ltd		445
	1,139,768		Textron, Inc		30,398
	89,110		Thales S.A.		7,380
	5,867		Thermax Ltd		57
	177,792	*	Thermon Group Holdings		2,679
	55,071		THK Co Ltd		1,110
	282,835		Thoresen Thai Agencies PCL		17
	12,200		Tian Di Science & Technology Co Ltd		5
	8,792		Timken Co		284
	3,871		Timken India Ltd		39
	71,056		Titan International, Inc		110
	38,745	*	Titan Machinery, Inc		337
	156,000		TK Group Holdings Ltd		53
	31,663		TKH Group NV		879
	37,000		Toa Corp/Tokyo		492
	29,511		Tocalo Co Ltd		276
	811,541		Toda Corp		4,684
	14,242		Toenec Corp		417
	50,700		Tokai Corp		438
	36,202		Tokyu Construction Co Ltd		190
	25,513		Toro Co		1,661
	102,889		Toromont Industries Ltd		4,507
	181,137		Toshiba Corp		3,970
	10,141	e	Toshiba Machine Co Ltd		200
	11,001		Totetsu Kogyo Co Ltd		295
	26,686		Toto Ltd		880
	269,303		Toyo Construction Co Ltd		1,081
	5,900		Toyo Tanso Co Ltd		76
	234,164		Toyota Tsusho Corp		5,470
	30,504	*	TPI Composites, Inc		451
	102,838		Trakya Cam Sanayi AS		45
	1,630,065		Trane Technologies plc		134,627
	6,556	*	Transcat Inc		174
	129,941		TransDigm Group, Inc		41,606
	185,523		Travis Perkins plc		2,017
	235,674	*	Trelleborg AB (B Shares)		2,507
	58,148	*	Trex Co, Inc		4,660
	88,899	*	Trimas Corp		2,054
	12,184	e	Trinity Industries, Inc		196
	52,917		Triton International Ltd		1,369
	54,825		Triumph Group, Inc		371
	20,129		Troax Group AB		185
	22,210		Trusco Nakayama Corp		477
	21,730		Tsubaki Nakashima Co Ltd		135
	13,000		Tsubakimoto Chain Co		294
	21,500	e	Tsugami Corp		148

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	14,400		Tsukishima Kikai Co Ltd	$	177
	8,614		Tsurumi Manufacturing Co Ltd		154
	43,292	*	Tutor Perini Corp		291
	14,586	*,e	Twin Disc, Inc		102
	187,997		Ultra Electronics Holdings		4,651
	4,600		Union Tool Co		108
	133,000		Unique Engineering & Construction PCL		15
	809,800		United Integrated Services Co Ltd		4,403
	11,491	*	United Rentals, Inc		1,182
	1,827,011		United Technologies Corp		172,342
	515,144	*	Univar Solutions Inc		5,522
	264,280		Universal Forest Products, Inc		9,829
	28,471		Uponor Oyj		256
	197,100		Ushio, Inc		1,876
	446,897	*	Valmet Corp		8,676
	32,983		Valmont Industries, Inc		3,496
	13,987	*,e	Varta AG.		984
	34,904	g	VAT Group AG.		4,759
	216,320	*	Vectrus, Inc		8,958
	55,471		Veidekke ASA		463
	22,038	*	Veritiv Corp		173
	36,419		Vestas Wind Systems AS		2,963
	112,535		Vesuvius plc		451
	21,234		V-Guard Industries Ltd		43
	25,320	*	Vicor Corp		1,128
	670,258		Vinci S.A.		54,766
	143,516	*,e	Vivint Solar, Inc		627
	20,992		Voltas Ltd		132
	14,544		Voltronic Power Technology Corp		302
	1,088,114		Volvo AB (B Shares)		12,933
	5,120		Vossloh AG.		176
	1,392,000	g	VPower Group International Holdings Ltd		402
	489,273		W.W. Grainger, Inc		121,584
	51,242		Wabash National Corp		370
	10,801	*	WABCO Holdings, Inc		1,459
	164,952		Wabtec Corp		7,939
	56,755		Wacker Construction Equipment AG.		625
	22,798		Wajax Income Fund		105
	19,000		Wakita & Co Ltd		173
	10,885,000		Walsin Lihwa Corp		3,931
	138,009	e	Wartsila Oyj (B Shares)		1,008
	5,801		Washtec AG.		230
	126,702		Watsco, Inc		20,023
	118,289		Watts Water Technologies, Inc (Class A)		10,013
	171,116	*	WCT Berhad		15
	903,333		Weg S.A.		5,836
	8,100,284		Weichai Power Co Ltd		12,903
	324,200	*	Weichai Power Co Ltd (Class A)		538
	26,994		Weir Group plc		240
	3,072,137	*	Welbilt, Inc		15,760
	4,470	*	WESCO International, Inc		102
	2,196	*	Willis Lease Finance Corp		58
	69,075	*	Willscot Corp		700
	75,318		Wilson Bayly Holmes-Ovcon Ltd		338

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	83,972		Woodward Inc	$	4,991
	110,670	e	WSP Global, Inc		6,285
	316,100		XCMG Construction Machinery Co Ltd		221
	72,700		Xiamen C & D, Inc		78
	201,300		Xinjiang Goldwind Science & Technology Co Ltd		267
	730,400		Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		630
	24,112		Xxentria Technology Materials Corp		39
	32,976		Xylem, Inc		2,148
	3,318		Y G-1 Co Ltd		11
	44,000		Yahagi Construction Co Ltd		316
	15,880		YAMABIKO Corp		119
	18,000	e	Yamashin-Filter Corp		118
	29,970		Yamazen Corp		248
	2,939,000	e	Yangzijiang Shipbuilding		1,705
	82,112	*,e	YIT Oyj		361
	82,131		Yokogawa Bridge Holdings Corp		1,484
	8,552		Yuasa Trading Co Ltd		225
	31,000		Yungtay Engineering Co Ltd		60
	18,400		Yurtec Corp		104
	8,060		Yushin Precision Equipment Co Ltd		50
	10,438	*,†	Yuyang DNU Co Ltd		12
	92,586		Zardoya Otis S.A.		623
	36,559		Zehnder Group AG.		1,383
	121,100	*	Zhejiang Chint Electrics Co Ltd		400
	14,800		Zhejiang Dingli Machinery Co Ltd		118
	114,400		Zhejiang Sanhua Intelligent Controls Co Ltd		256
	75,900		Zhejiang Weixing New Building Materials Co Ltd		117
	47,000		Zhengzhou Coal Mining Machinery Group Co Ltd		17
	87,500		Zhengzhou Yutong Bus Co Ltd		167
	37,700		Zhongji Innolight Co Ltd		280
	441,441		Zhuzhou CSR Times Electric Co Ltd		1,308
	300,600		Zoomlion Heavy Industry Science and Technology Co Ltd		239
	63,782	*	Zumtobel AG.		421
			TOTAL CAPITAL GOODS		5,702,635
COMMERCIAL & PROFESSIONAL SERVICES - 1.3%
	19,000	*	51job, Inc (ADR)		1,166
	140,938		ABM Industries, Inc		3,433
	44,887	*	Acacia Research (Acacia Technologies)		100
	92,126		ACCO Brands Corp		465
	140,694		Adecco S.A.		5,544
	190,436	e	ADT, Inc		823
	72,051	*	Advanced Disposal Services, Inc		2,363
	11,300		Aeon Delight Co Ltd		344
	116,738		AF AB		1,776
	132,815		Aggreko plc		794
	5,793	e	Akka Technologies S.A.		161
	375,000	*,g	A-Living Services Co Ltd		1,798
	490,434		ALS Ltd		1,709
	32,430		Altech Corp		437
	283,222		AMA Group Ltd		48

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,476		Amadeus Fire AG	$	1,393
	163,519		Applus Services S.A.		1,036
	86,785	*	ASGN Inc		3,065
	306,879		Babcock International Group		1,448
	7,184		Barrett Business Services, Inc		285
	60,300		BayCurrent Consulting, Inc		2,826
	11,480	g	Befesa S.A.		334
	160,700		Beijing Originwater Technology Co Ltd		207
	17,300		Bell System24 Holdings, Inc		180
	96,782		Benefit One, Inc		1,255
	2,914		Bertrandt AG.		99
	13,607		BG Staffing, Inc		102
	129,670	g	Biffa plc		284
	14,906		Bilfinger Berger AG.		250
	255,883	e	Bingo Industries Ltd		300
	73,245		Brady Corp (Class A)		3,306
	1,568,455		Brambles Ltd		10,138
	514,040	g	Bravida Holding AB		3,604
	28,864	*	BrightView Holdings, Inc		319
	49,386		Brink’s Co		2,571
	11,782	e	Brunel International NV		65
	312,179		Bureau Veritas S.A.		5,884
	845,787	*	Capita Group plc		342
	48,011	*	Casella Waste Systems, Inc (Class A)		1,875
	6,791	*,e	Casper Sleep, Inc		29
	166,137	*	Caverion Corp		769
	310,942	*	CBIZ, Inc		6,505
	35,804	*	Ceco Environmental Corp		167
	4,341		Central Security Patrols Co Ltd		156
	64,500		Centre Testing International Group Co Ltd		138
	22,927		Cewe Color Holding AG.		2,017
	2,248,303		China Everbright International Ltd		1,278
	6,400	*	China Index Holdings Ltd (ADR)		9
	170,306	*,e	Cimpress plc		9,060
	133,132		Cintas Corp		23,061
	784,791	*	Clarivate Analytics plc		16,284
	172,035	*	Clean Harbors, Inc		8,832
	18,000		Cleanaway Co Ltd		82
	2,697,163		Cleanaway Waste Management Ltd		2,845
	1,724		Compx International, Inc		26
	327,480	*	Copart, Inc		22,439
	58,225	*	CoStar Group, Inc		34,190
	3,918,000		Country Garden Services Holdings Co Ltd		15,765
	117,311		Covanta Holding Corp		1,003
	69,239		CRA International, Inc		2,313
	1,320,000	*,†	CT Environmental Group Ltd		2
	165,895		Dai Nippon Printing Co Ltd		3,525
	19,000		Daiseki Co Ltd		402
	53,961	e	De La Rue plc		38
	41,816		Deluxe Corp		1,084
	189,532		Derichebourg		519
	36,297	*	DKSH Holding AG.		1,792
	308,367		Downer EDI Ltd		563
	20,598		Duskin Co Ltd		542

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	75,000		Dynagreen Environmental Protection Group Co Ltd	$	29
	133,109		Elis S.A.		1,254
	165,458	*	Emerald Holding, Inc		429
	16,820		en-japan, Inc		313
	26,097		Ennis, Inc		490
	184,428		Equifax, Inc		22,030
	98,000		Ever Sunshine Lifestyle Services Group Ltd		122
	1,713,191		Experian Group Ltd		47,612
	88,365		Exponent, Inc		6,354
	11,370		Fila S.p.A		87
	51,058	*,e	Forrester Research, Inc		1,492
	118,825	*	Franklin Covey Co		1,847
	133,500		Frontken Corp BHD		54
	62,534	*	FTI Consulting, Inc		7,490
	129,500		Fullcast Co Ltd		1,481
	49,950		Funai Soken Holdings, Inc		987
	24,130		GL Events		352
	19,151	*	GP Strategies Corp		125
	1,062,000		Greentown Service Group Co Ltd		1,278
	2,257,059		Group 4 Securicor plc		2,567
	2,819		Groupe CRIT		146
	1,487,379		Hays plc		2,119
	122,211	e	Healthcare Services Group		2,922
	108,526		Heidrick & Struggles International, Inc		2,442
	14,643	*,e	Heritage-Crystal Clean, Inc		238
	186,831		Herman Miller, Inc		4,148
	42,243		HNI Corp		1,064
	448,730		HomeServe plc		5,845
	81,523	*	Huron Consulting Group, Inc		3,698
	427,429	*	IAA, Inc		12,806
	45,180		ICF International, Inc		3,104
	778,182		IHS Markit Ltd		46,691
	45,689	*	Innerworkings, Inc		54
	18,003	*	Insource Co Ltd		402
	108,074		Insperity, Inc		4,031
	184,538		Interface, Inc		1,395
	200,679		Intertek Group plc		11,725
	42,146	g	Intertrust NV		531
	760,478	e	Intrum Justitia AB		10,073
	156,409		IPH Ltd		687
	127,070		IR Japan Holdings Ltd		6,797
	146,659	e	ISS AS		2,006
	7,700		JAC Recruitment Co Ltd		72
	382,600		Japan Elevator Service Holdings Co Ltd		8,751
	66,600	*	JMT Network Services PCL		26
	42,000	*	JOYY, Inc (ADR)		2,237
	18,610		KAR Auction Services, Inc		223
	6,000		KD Holding Corp		39
	31,853		Kelly Services, Inc (Class A)		404
	84,992		KEPCO Plant Service & Engineering Co Ltd		2,019
	138,321		Kforce, Inc		3,537
	143,068		Kimball International, Inc (Class B)		1,704
	398,748		Knoll, Inc		4,115

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,247		Koentec Co Ltd	$	28
	192,900		Kokuyo Co Ltd		2,686
	126,165		Korn/Ferry International		3,068
	4,377	g	L&T Technology Services Ltd		67
	17,189	e	Link And Motivation, Inc		49
	58,813		Loomis AB		1,191
	4,051		Maharah Human Resources Co		63
	97,260		Manpower, Inc		5,154
	32,762		Matsuda Sangyo Co Ltd		384
	29,318		Matthews International Corp (Class A)		709
	103,136		McGrath RentCorp		5,402
	132,269		McMillan Shakespeare Ltd		569
	13,028		Meitec Corp		517
	227,756		Michael Page International plc		1,023
	19,340	*	Mistras Group, Inc		82
	247,327		Mitie Group		200
	18,444		Mitsubishi Pencil Co Ltd		242
	337,808		Mobile Mini, Inc		8,861
	73,537		Morneau Sobeco Income Fund		1,484
	182,300		Moshi Moshi Hotline, Inc		1,765
	34,927		MSA Safety, Inc		3,535
	7,037		NICE Information Service Co Ltd		76
	4,504		Nichiban Co Ltd		62
	43,480		Nielsen NV		545
	96,123		Nihon M&A Center, Inc		2,618
	8,700		Nippon Kanzai Co Ltd		143
	101,911		Nippon Parking Development Co Ltd		127
	6,165		NL Industries, Inc		18
	215,000		Nomura Co Ltd		1,627
	25,511		Okamura Corp		203
	291,669		Outsourcing, Inc		1,260
	25,668		Oyo Corp		290
	248,270		Park24 Co Ltd		3,660
	10,900		Pasona Group, Inc		86
	45,872		Pilot Corp		1,518
	165,345		Pitney Bowes, Inc		337
	72,419	*,e	Precigen, Inc		246
	49,827		Prestige International, Inc		380
	233,596	g	Prosegur Cash S.A.		222
	291,926		Prosegur Cia de Seguridad S.A.		729
	34,782		Quad Graphics, Inc		88
	35,912	*,g	Quess Corp Ltd		101
	335,104	*,e	Raksul, Inc		7,233
	148,433		Randstad Holdings NV		5,239
	3,855,228		Recruit Holdings Co Ltd		99,585
	3,243,373		RELX plc		69,221
	2,308,248		Rentokil Initial plc		11,024
	323,545		Republic Services, Inc		24,285
	30,369		Resources Connection, Inc		333
	160,312		Restore plc		704
	122,991		Ritchie Bros Auctioneers, Inc		4,212
	265,564		Robert Half International, Inc		10,025
	240,962		Rollins, Inc		8,708
	116,959		RPS Group plc		50

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	86,290		RR Donnelley & Sons Co	$	83
	301,091	e	RWS Holdings plc		1,703
	19,938		S1 Corp (Korea)		1,316
	20,552		Sato Corp		401
	241,839		Secom Co Ltd		20,002
	293,291		Securitas AB (B Shares)		3,151
	303,041		Seek Ltd		2,769
	1,328,430	*	Serco Group plc		2,006
	54,427		SG Fleet Group Ltd		41
	5,037		SGS S.A.		11,618
	33,500		Shanghai M&G Stationery, Inc		217
	100,500	*,†	Shanghai Youngsun Investment Co Ltd		77
	428,280		Shanks Group plc		123
	156,691		SmartGroup Corp Ltd		468
	36,087		SMS Co Ltd		696
	18,748		Societe BIC S.A.		1,041
	76,790		Sohgo Security Services Co Ltd		3,727
	156,097	*	SP Plus Corp		3,239
	235,735		SPIE S.A.		2,371
	28,632	*	S-Pool, Inc		145
	13,743		Sporton International, Inc		72
	126,131		Stantec, Inc		3,227
	557,633		Steelcase, Inc (Class A)		5,504
	134,354	*	Stericycle, Inc		6,527
	23,000		Sunny Friend Environmental Technology Co Ltd		176
	3,776		Synergie S.A		64
	66,660		Taiwan Secom Co Ltd		180
	158,020		Taiwan-Sogo Shinkong Security Corp		178
	14,200		Tanseisha Co Ltd		95
	28,654	*,e	Team, Inc		186
	2,135	*	TeamLease Services Ltd		46
	82,480		TechnoPro Holdings, Inc		3,849
	127,375		Teleperformance		26,382
	192,424		Temp Holdings Co Ltd		1,925
	87,245		Tetra Tech, Inc		6,161
	231,645		Thomson Reuters Corp		15,782
	74,780		Tinexta S.p.A		762
	64,723		Tomra Systems ASA		1,807
	24,406		Toppan Forms Co Ltd		218
	700,150		Toppan Printing Co Ltd		10,690
	164,685		Transcontinental, Inc		1,462
	452,728		TransUnion		29,962
	55,757	*	TriNet Group, Inc		2,100
	38,708	*	TrueBlue, Inc		494
	11,062		Trust Tech, Inc		52
	42,200		Tus-Sound Environmental Resources Co Ltd		48
	21,878		Unifirst Corp		3,306
	13,599	*	United Technology Holdings Co Ltd		138
	31,424	*	US Ecology, Inc		955
	309,829		Verisk Analytics, Inc		43,184
	19,023		Viad Corp		404
	8,169		VSE Corp		134
	503,184		Waste Connections, Inc		38,997

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,097,291		Waste Management, Inc	$	101,565
	4,800		WDB Holdings Co Ltd		93
	17,195	*	Willdan Group, Inc		368
	211,013		Wolters Kluwer NV		14,936
	3,500		World Holdings Co Ltd		40
	5,200		YAMADA Consulting Group Co Ltd		46
	22,900	e	Yumeshin Holdings Co Ltd		120
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,129,471
CONSUMER DURABLES & APPAREL - 1.8%
	169,000		361 Degrees International Ltd		27
	10,439		Accell Group		145
	34,831		Acushnet Holdings Corp		896
	260,141		Adidas-Salomon AG.		57,758
	724,522		Aksa Akrilik Kimya Sanayii		692
	56,100		Alpargatas S.A.		250
	54,908	*	American Outdoor Brands Corp		456
	171,157	*	AmTRAN Technology Co Ltd		37
	2,213,335		Anta Sports Products Ltd		16,061
	7,799	e	Aquafil S.p.A		29
	176,061	*	Arcelik AS		359
	12,700		Arezzo Industria e Comercio S.A.		90
	94,926	*	Aritzia, Inc		830
	184,473		Asics Corp		1,703
	58,849		Bajaj Electricals Ltd		209
	788,943		Barratt Developments plc		4,264
	9,856		Bassett Furniture Industries, Inc		54
	8,903		Bata India Ltd		144
	58,655	*	Beazer Homes USA, Inc		378
	169,749		Bellway plc		4,497
	19,302	e	Beneteau S.A.		127
	85,490		Berkeley Group Holdings plc		3,816
	69,500	g	Bestway Global Holding, Inc		15
	45,035	e	Bonava AB		193
	1,996,000		Bosideng International Holdings Ltd		464
	450,983		Bovis Homes Group plc		3,215
	137,480		Breville Group Ltd		1,435
	208,082		BRP, Inc (Toronto)		3,395
	17,638		Brunello Cucinelli S.p.A		534
	127,191		Brunswick Corp		4,499
	150,299		Burberry Group plc		2,443
	3,122,087		Cairn Homes plc		2,328
	5,552,409		Cairn Homes plc (London)		4,123
	156,444		Callaway Golf Co		1,599
	66,632	*,e	Canada Goose Holdings, Inc		1,332
	1,037,341	*	Capri Holdings Ltd		11,193
	14,883		Carter’s, Inc		978
	168,516	*	Casio Computer Co Ltd		2,358
	20,132	*	Cavco Industries, Inc		2,918
	31,268		CCC S.A.		224
	69,281	*	Century Communities, Inc		1,005
	9,493	e	Chargeurs S.A.		95
	738,400		China Dongxiang Group Co		64
	726,000		China Lilang Ltd		418

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,400		Chofu Seisakusho Co Ltd	$	221
	138,357		Chow Sang Sang Holding		137
	375,100		Cia Hering		1,074
	557,386		Cie Financiere Richemont S.A.		29,794
	694,000	*	Citychamp Watch & Jewellery Group Ltd		148
	23,068		Clarus Corp		226
	3,098,510		Coats Group plc		1,614
	4,382		Columbia Sportswear Co		306
	1,099,200	e	Consorcio ARA, S.A. de C.V.		166
	14,200		Construtora Tenda S.A.		56
	6,636		Corona Corp		59
	170,000	e,g	Cosmo Lady China Holdings Co Ltd		20
	1,415,947	g	Countryside Properties plc		4,983
	5,337		COWELL FASHION Co Ltd		21
	133,205		Crest Nicholson Holdings plc		288
	295,422	*	CROCS, Inc		5,019
	378,547		Crompton Greaves Consumer Electricals Ltd		1,043
	934,295	g	Crystal International Group Ltd		287
	333		Cuckoo Electronics Co Ltd		20
	57,844		Culp, Inc		426
	71,700		Cyrela Brazil Realty S.A.		195
	38,288	*	Deckers Outdoor Corp		5,131
	128,850		De’Longhi S.p.A.		2,142
	27,207	*	Delta Apparel, Inc		283
	4,636		Delta-Galil Industries Ltd		71
	16,002		Descente Ltd		187
	653,439		DR Horton, Inc		22,217
	123,950		Eclat Textile Co Ltd		981
	3,406,791		Electrolux AB (Series B)		42,086
	3,142,718	*,e	Electrolux Professional AB		9,054
	6,823		Escalade, Inc		41
	17,000		ES-Con Japan Ltd		93
	393,613		Essilor International S.A.		41,674
	40,519		Ethan Allen Interiors, Inc		414
	25,100	*	Even Construtora e Incorporadora S.A.		30
	28,866		Ez Tec Empreendimentos e Participacoes S.A.		165
	20,286		F&F Co Ltd		1,524
	1,233,604		Feng TAY Enterprise Co Ltd		5,284
	35,533		Fila Korea Ltd		840
	7,368		Flexsteel Industries, Inc		81
	513		Forbo Holding AG.		624
	594,052		Formosa Taffeta Co Ltd		601
	16,092		Forus S.A.		14
	47,188	*,e	Fossil Group, Inc		155
	10,191		Foster Electric Co Ltd		104
	12,008		France Bed Holdings Co Ltd		101
	339,999	*,†,e	Fuguiniao Co Ltd		0	^
	4,900		Fujibo Holdings Inc		130
	31,221		Fujitsu General Ltd		562
	22,000	*	Fulgent Sun International Holding Co Ltd		61
	416,000		Fusheng Precision Co Ltd		2,131
	48,013		Games Workshop Group plc		2,551
	295,288		Garmin Ltd		22,135

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	39,151	e	Geox S.p.A.	$	31
	209,639		Giant Manufacturing Co Ltd		926
	133,417	*	G-III Apparel Group Ltd		1,027
	200,438		Gildan Activewear, Inc		2,555
	2,709,904	*,e,g	Glenveagh Properties plc		1,450
	2,700,000	*,e,g	Glenveagh Properties plc (London)		1,424
	83,493	e	Goldwin, Inc		4,636
	175,000	*	Goodbaby International Holding		19
	121,944	*,e	GoPro, Inc		319
	163,400	*	Gree Electric Appliances, Inc of Zhuhai		1,190
	121,343	*	Green Brick Partners, Inc		977
	56,000		Grendene S.A.		81
	20,800		Guararapes Confeccoes S.A.		44
	51,600		Gunze Ltd		1,729
	1,110,944		Haier Electronics Group Co Ltd		2,933
	29,126		Hamilton Beach Brands Holding Co		277
	9,757		Handsome Co Ltd		155
	193,544	e	Hanesbrands, Inc		1,523
	936,873		Hangzhou Robam Appliances Co Ltd		3,722
	3,576		Hansae Co Ltd		26
	74,360		Hanssem Co Ltd		3,060
	195,158		Hasbro, Inc		13,964
	845,972		Haseko Corp		8,997
	28,489	e	Heiwa Corp		532
	31,036	*	Helen of Troy Ltd		4,470
	24,654	*,†	Hellenic Duty Free Shops S.A.		0	^
	30,191		Hermes International		20,542
	2,977		Hinokiya Group Co Ltd		40
	1,309		Hitachi Home & Life Solutions India Ltd		37
	29,622	*,e	HLB, Inc		2,155
	11,468		Hooker Furniture Corp		179
	466,000	*,†	Hosa International Ltd		1
	8,103		HS Industries Co Ltd		45
	68,419		Hugo Boss AG.		1,713
	399,143		Husqvarna AB (B Shares)		1,986
	3,700		Hwaseung Enterprise Co Ltd		33
	10,536		Hyosung TNC Co Ltd		949
	2,423		Hyundai Livart Furniture Co Ltd		14
	2,040	*	IFB Industries Ltd		7
	53,188		IG Design Group plc		344
	65,221		Iida Group Holdings Co Ltd		901
	125,753	*	Installed Building Products, Inc		5,014
	30,691	*,e	iRobot Corp		1,255
	219,300		Japan Wool Textile Co Ltd		1,897
	47,959	e	JM AB		826
	482,500	e	JNBY Design Ltd		419
	18,000		Johnson Health Tech Co Ltd		30
	12,960		Johnson Outdoors, Inc		813
	85,200		JVC KENWOOD Holdings, Inc		153
	124,000	*	Kasen International Holdings Ltd		25
	39,731		Kaufman & Broad S.A.		1,221
	552,559		KB Home		10,001
	3,232,000		Kinpo Electronics		1,048
	11,956		KMC Kuei Meng International In		29

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	138,200		Konka Group Co Ltd	$	50
	121,063		Kontoor Brands, Inc		2,321
	3,826		KPR Mill Ltd		17
	15,400		Kurabo Industries Ltd		367
	8,562		LA Opala RG Ltd		17
	44,333	e	La-Z-Boy, Inc		911
	3,550,776		Lealea Enterprise Co Ltd		760
	71,700		LEC, Inc		714
	8,509	*,e	Legacy Housing Corp		79
	198,661		Leggett & Platt, Inc		5,300
	26,476		Lennar Corp (B Shares)		766
	428,440		Lennar Corp (Class A)		16,366
	194,272	e	Levi Strauss & Co		2,415
	70,933		LG Electronics, Inc		2,789
	44,751		LG Fashion Corp		393
	26,922	*	LGI Homes, Inc		1,216
	3,984,500		Li Ning Co Ltd		11,463
	11,656		Lifetime Brands, Inc		66
	9,044	*,e	Lovesac Co		53
	1,113		LPP S.A.		1,400
	363,803	*,n	Lululemon Athletica, Inc		68,959
	783,224		Luthai Textile Co Ltd		560
	350,364		LVMH Moet Hennessy Louis Vuitton S.A.		128,496
	125,585	*	M/I Homes, Inc		2,076
	41,271		Makalot Industrial Co Ltd		144
	135,495	*	Malibu Boats, Inc		3,901
	1,477,703		Man Wah Holdings Ltd		801
	6,442	*,†	Mariella Burani S.p.A.		0
	8,609		Marine Products Corp		70
	5,700		Mars Engineering Corp		91
	17,298	*	MasterCraft Boat Holdings, Inc		126
	2,084,901	*,e	Mattel, Inc		18,368
	7,679	*,g	Mavi Giyim Sanayi Ve Ticaret AS.		39
	48,610		Maytronics Ltd		304
	1,066,260	g	McCarthy & Stone plc		845
	70,060		MDC Holdings, Inc		1,625
	44,000		Merida Industry Co Ltd		161
	46,959	*	Meritage Homes Corp		1,714
	168,100		MIPS AB		3,764
	40,300		Mizuno Corp		696
	91,902	*	Mohawk Industries, Inc		7,007
	514,001		Moncler S.p.A		18,678
	26,521	e	Movado Group, Inc		313
	1,064,365		MRV Engenharia e Participacoes S.A.		2,507
	3,190		Nacco Industries, Inc (Class A)		89
	209,430	e	Namco Bandai Holdings, Inc		10,158
	8,000		Nan Liu Enterprise Co Ltd		37
	77,700		NavInfo Co Ltd		153
	128,425	*,g	Neinor Homes S.A.		981
	21,896		New Wave Group AB (B Shares)		60
	1,677,929		Newell Brands Inc		22,283
	327,000		Nien Made Enterprise Co Ltd		1,943
	3,474,810		Nike, Inc (Class B)		287,506

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	195,265		Nikon Corp	$	1,792
	535,600		Nishat Mills Ltd		189
	57,357		Nobia AB		204
	17,663	*	NVR, Inc		45,378
	49,231		Onward Kashiyama Co Ltd		216
	10,500		Oppein Home Group, Inc		139
	11,014		Orient Electric Ltd		28
	1,120,041		Oriental Weavers		383
	100,239	*,e,g	OVS S.p.A		86
	15,892		Oxford Industries, Inc		576
	126,000	e,g	Ozner Water International Holding Ltd		5
	497,778		Pacific Textile Holdings Ltd		238
	3,711		Page Industries Ltd		830
	22,456		Paiho Shih Holdings Corp		19
	2,594,613		Panasonic Corp		19,642
	56,770	e	Pandora AS		1,824
	402,000	*,†	Peace Mark Holdings Ltd		0
	225,055	*	Peloton Interactive, Inc		5,975
	122,086		Persimmon plc		2,886
	249,293	*	Peter England Fashions and Retail Ltd		503
	375,929		Photo-Me International plc		183
	20,656		PIK Group (GDR)		107
	96,995		Polaris Inc		4,670
	1,296,041		Pou Chen Corp		1,095
	12,017,792		Prada S.p.A		34,804
	49,040	e	Pressance Corp		432
	42,493,400		PT Sri Rejeki Isman Tbk		375
	448,829		Pulte Homes, Inc		10,018
	136,101		Puma AG. Rudolf Dassler Sport		7,997
	63,246	*,e	Purple Innovation, Inc		359
	61,875		PVH Corp		2,329
	83,000	*	Q Technology Group Co Ltd		91
	256,100		Qingdao Haier Co Ltd		515
	249,000		Quang Viet Enterprise Co Ltd		945
	180,623		Rajesh Exports Ltd		1,305
	8,773		Ralph Lauren Corp		586
	56,233		Raymond Ltd		165
	742,638		Redrow plc		3,292
	160,000	g	Regina Miracle International Holdings Ltd		70
	29,170		Rinnai Corp		2,056
	6,540		Rocky Brands, Inc		127
	99,000	*	Roo Hsing Co Ltd		28
	1,212,607		Ruentex Industries Ltd		2,778
	64,034	e	Salvatore Ferragamo Italia S.p.A		851
	1,561,800	g	Samsonite International		1,462
	24,224		Sangetsu Co Ltd		359
	20,990		Sankyo Co Ltd		609
	21,496		SEB S.A.		2,662
	473,082		Sega Sammy Holdings, Inc		5,740
	13,000		Seiko Holdings Corp		208
	60,258		Seiren Co Ltd		722
	398,067		Sekisui Chemical Co Ltd		5,244
	372,625		Sekisui House Ltd		6,145
	70,894	*	Sharp Corp		736

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	660,024		Shenzhou International Group Holdings Ltd	$	6,924
	4,854		Shimano, Inc		692
	3,567		Sioen Industries NV		69
	17,182	*	Skechers U.S.A., Inc (Class A)		408
	241,838	*	Skyline Champion Corp		3,792
	412,000		Skyworth Digital Holdings Ltd		87
	369,963	*,e	Sonos, Inc		3,137
	3,391,912		Sony Corp		200,915
	1,120,854	*,g	Spin Master Corp		10,784
	40,600		Starts Corp, Inc		752
	822,263	*,e	Steinhoff International Holdings NV		50
	145,738		Steven Madden Ltd		3,385
	16,777		Sturm Ruger & Co, Inc		854
	546,939		Sumitomo Forestry Co Ltd		6,983
	50,200	*	Suofeiya Home Collection Co Ltd		126
	12,778		Superior Uniform Group, Inc		108
	13,375		Swatch Group AG.		2,627
	698		Swatch Group AG. (Registered)		27
	3,468		Symphony Ltd		35
	244,602		Tainan Spinning Co Ltd		66
	494,600		Taiwan Paiho Ltd		847
	7,200	*	Tama Home Co Ltd		81
	81,300		Tamron Co Ltd		1,363
	180,140		Tapestry, Inc		2,333
	1,253,000	*	Tatung Co Ltd		808
	395,590	*	Taylor Morrison Home Corp		4,351
	5,409,353		Taylor Wimpey plc		7,784
	536,900		TCL Corp		310
	3,385,000		TCL Multimedia Technology Holdings Ltd		1,406
	3,766	*,g	TCNS Clothing Co Ltd		16
	52,121	g	Technogym S.p.A		340
	15,045	e	Ted Baker plc		19
	263,417	*	Tempur Sealy International, Inc		11,514
	59,000		Texhong Textile Group Ltd		45
	1,750,000		Texwinca Holdings Ltd		280
	53,522	g	Thule Group AB		923
	256,483		Titan Industries Ltd		3,159
	30,019	e	Tod’s S.p.A.		1,001
	3,890		Token Corp		288
	199,385		Toll Brothers, Inc		3,838
	114,527		TomTom NV		888
	71,501		Tomy Co Ltd		502
	107,960	*	TopBuild Corp		7,734
	264,804	*	TRI Pointe Homes, Inc		2,322
	19,300		Trisul S.A.		27
	183,218		TSI Holdings Co Ltd		670
	686		TTK Prestige Ltd		44
	68,767		Tupperware Brands Corp		111
	45,705	*	Under Armour, Inc (Class A)		421
	1,581,509	*	Under Armour, Inc (Class C)		12,747
	13,331	*	Unifi, Inc		154
	106,318	*	Universal Electronics, Inc		4,079

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,543		Universal Entertainment Corp	$	189
	3,067		VAN DE Velde		70
	21,926		Vardhman Textiles Ltd		180
	50,264	*	Vera Bradley, Inc		207
	13,340	*	Vestel Elektronik Sanayi		21
	402,315		VF Corp		21,757
	77,516	*,e	Victoria plc		201
	10,589	*	Vince Holding Corp		41
	6,709		VIP Industries Ltd		21
	257,896	*	Vista Outdoor, Inc		2,269
	20,000	*	Vulcabras Azaleia S.A.		16
	80,213		Wacoal Holdings Corp		1,736
	84,000		Weiqiao Textile Co		16
	71,763		Welspun India Ltd		20
	263,626		Whirlpool Corp		22,619
	1,857		Winix, Inc		24
	78,770		Wolverine World Wide, Inc		1,197
	35,835		Woongjin Coway Co Ltd		1,695
	236,383		XTEP International Holdings		77
	41,196		Yamaha Corp		1,597
	74,793	*,e	YETI Holdings, Inc		1,460
	6,600		Yondoshi Holdings, Inc		119
	26,800		Yonex Co Ltd		122
	5,882		Youngone Corp		108
	7,078		Youngone Holdings Co Ltd		193
	647,000		Yue Yuen Industrial Holdings		989
	26,523	*,e	ZAGG, Inc		82
	51,300		Zhejiang Semir Garment Co Ltd		51
	15,000		Zhejiang Supor Co Ltd		145
	18,900	e	Zojirushi Corp		258
			TOTAL CONSUMER DURABLES & APPAREL		1,634,566
CONSUMER SERVICES - 1.7%
	3,800	*,e	500.com Ltd (ADR)		17
	190,881		888 Holdings plc		292
	1,626,757	e	AA plc		344
	44,093	g	AcadeMedia AB		216
	351,737		Accor S.A.		9,450
	1,668,477		Accordia Golf Trust		564
	119,704	*	Adtalem Global Education, Inc		3,207
	117,111		Advtech Ltd		49
	3,572	e	Aeon Fantasy Co Ltd		48
	486,546	*	Afya Ltd		9,274
	104,000		Ajisen China Holdings Ltd		25
	916,200	*	Alsea SAB de C.V.		586
	43,460	*,†	Altus San Nicolas Corp		4
	57,869	*	American Public Education, Inc		1,385
	59,577	*	AmRest Holdings SE		265
	425,540		ARAMARK Holdings Corp		8,498
	8,060	e	ARCLAND SERVICE Co Ltd		108
	85,745	*,e	Arco Platform Ltd		3,624
	8,193,613	a	Arcos Dorados Holdings, Inc		27,367
	754,383	*	Ardent Leisure Group Ltd		99
	588,262		Aristocrat Leisure Ltd		7,622

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	48,000	e	Atom Corp	$	379
	66,006		Autogrill S.p.A.		306
	18,437	*,g	Basic-Fit NV		308
	491,334		BBX Capital Corp		1,135
	101,358		Benesse Holdings, Inc		2,579
	1,646,000		Berjaya Sports Toto BHD		876
	1,640		bet-at-home.com AG.		48
	319,622		Betsson AB		1,256
	4,775	*	Biglari Holdings, Inc (B Shares)		245
	45,454		BJ’s Restaurants, Inc		631
	35,800		BK Brasil Operacao e Assessoria a Restaurantes S.A.		62
	805,400		Bloomberry Resorts Corp		95
	82,374		Bloomin’ Brands, Inc		588
	6,777	e	Bluegreen Vacations Corp		39
	76,654		Boyd Gaming Corp		1,105
	114,642	*	Bright Horizons Family Solutions		11,693
	4,300		Bright Scholar Education Holdings Ltd (ADR)		29
	38,850		Brinker International, Inc		467
	4,700		BRONCO BILLY Co Ltd		95
	48,300		BTG Hotels Group Co Ltd		91
	865,775	*	Caesars Entertainment Corp		5,853
	182,000		Cafe de Coral Holdings Ltd		297
	816,656		Carnival Corp		10,755
	194,044		Carnival plc		2,316
	137,161		Carriage Services, Inc		2,215
	38,315	*	Carrols Restaurant Group, Inc		70
	90,000	*	Central Plaza Hotel PCL		42
	64,899	*	Century Casinos, Inc		156
	10,377	*	Chalet Hotels Ltd		28
	39,639	e	Cheesecake Factory		677
	298,268	*	Chegg, Inc		10,672
	269,500	*,g	China East Education Holdings Ltd		433
	403,000	e	China Education Group Holdings Ltd		558
	107,500		China International Travel Service Corp Ltd		1,007
	312,000	e	China Maple Leaf Educational Systems Ltd		96
	112,000	e,g	China New Higher Education Group Ltd		41
	448,000		China Travel International Inv HK		55
	75,000	*,g	China Xinhua Education Group Ltd		20
	242,640	g	China Yuhua Education Corp Ltd		178
	128,171	*	Chipotle Mexican Grill, Inc (Class A)		83,875
	50,865	e	Choice Hotels International, Inc		3,115
	34,413		Churchill Downs, Inc		3,543
	15,343	*	Chuy’s Holdings, Inc		155
	19,233		Cie des Alpes		332
	5,174		City Lodge Hotels Ltd		7
	1,510,145		Cogna Educacao		1,163
	13,129		Collectors Universe		206
	54,440		Collins Foods Ltd		181
	31,300	e	Colowide Co Ltd		473
	1,744,799		Compass Group plc		27,184
	42,368	e	Corporate Travel Management Ltd		223
	23,633	e	Cracker Barrel Old Country Store, Inc		1,967
	324,200	e	Create Restaurants Holdings, Inc		1,897

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	348,819		Crown Resorts Ltd	$	1,619
	28,935	e	Curro Holdings Ltd		12
	32,200		CVC Brasil Operadora e Agencia de Viagens S.A.		69
	195,429		Dadi Early-Childhood Education Group Ltd		1,043
	5,697		Daekyo Co Ltd		28
	36,000		Dahan Development Corp		64
	4,200	e	Daisyo Corp		42
	95,796		Dalata Hotel Group plc		262
	424,338		Darden Restaurants, Inc		23,109
	32,993	e	Dave & Buster’s Entertainment, Inc		432
	41,651	*	Del Taco Restaurants, Inc		143
	144,069	*	Denny’s Corp		1,106
	24,489		Dignity plc		85
	16,928	e	Dine Brands Global Inc.		486
	3,539	e	DO & CO AG.		139
	67,380	e	Domino’s Pizza Enterprises Ltd		2,086
	567,729		Domino’s Pizza Group plc		1,988
	40,009		Domino’s Pizza, Inc		12,966
	1,737		DoubleUGames Co Ltd		62
	16,000		Doutor Nichires Holdings Co Ltd		243
	63,777	*,e	Drive Shack, Inc		97
	796,230	*	Dubai Parks & Resorts PJSC		26
	72,653		Dunkin Brands Group, Inc		3,858
	7,360		Dur Hospitality Co		45
	62,546		EIH Ltd		54
	19,194	*	El Pollo Loco Holdings, Inc		162
	65,082	*,e	Eldorado Resorts, Inc		937
	406,800	*,e,g	Elior Participations S.C.A		2,663
	8,766	*	Emerson Pacific, Inc		43
	284,900		Erawan Group PCL		21
	249,572	g	Evolution Gaming Group AB		8,462
	379,561		Extended Stay America, Inc		2,775
	37,000		Fairwood Holdings Ltd		70
	15,860		Famous Brands Ltd		20
	2,248		Fattal Holdings 1998 Ltd		76
	24,909	*	Fiesta Restaurant Group, Inc		100
	88,210	†,e	Flight Centre Travel Group Ltd		557
	10,990		Formosa International Hotels Corp		40
	264,181	*	frontdoor, Inc		9,188
	295,000		Fu Shou Yuan International Group Ltd		258
	11,499	e	Fuji Kyuko Co Ltd		296
	6,800	e	Fujio Food System Co Ltd		85
	3,962		Fujita Kanko, Inc		57
	226,849	e	G8 Education Ltd		118
	15,100		GAEC Educacao S.A.		55
	3,257,043		Galaxy Entertainment Group Ltd		17,154
	2,465	e	Genki Sushi Co Ltd		51
	5,411,267		Genting BHD		4,680
	2,952,178		Genting Singapore Ltd		1,431
	30,668	*	Golden Entertainment, Inc		203
	18,739		Gourmet Master Co Ltd		46
	6,409		Graham Holdings Co		2,187
	72,615	*	Grand Canyon Education, Inc		5,539
	6,443		Grand Korea Leisure Co Ltd		71

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	95,042	*	Great Canadian Gaming Corp	$	1,687
	137,705		Greggs plc		2,740
	488,490		GVC Holdings plc		3,384
	311,623		H&R Block, Inc		4,388
	256,000	*,g	Haichang Holdings Ltd		18
	327,000	e,g	Haidilao International Holding Ltd		1,261
	2,200		Hana Tour Service, Inc		67
	4,905		Herfy Food Services Co		55
	9,937	e	Hiday Hidaka Corp		140
	463,428	*	Hilton Grand Vacations, Inc		7,308
	428,157		Hilton Worldwide Holdings, Inc		29,217
	83,554	e	HIS Co Ltd		1,089
	207,000		Hongkong & Shanghai Hotels		165
	352,000	g	Hope Education Group Co Ltd		80
	88,000	*,e	Hoteles City Express SAB de C.V.		25
	107,294	*	Houghton Mifflin Harcourt Co		202
	49,975		Huangshan Tourism Development Co Ltd		36
	118,800	e	Huazhu Group Ltd (ADR)		3,413
	58,279	e	Hyatt Hotels Corp		2,792
	7,500		Ichibanya Co Ltd		310
	1,221,997		IDP Education Ltd		9,528
	419,543		Indian Hotels Co Ltd		414
	144,228		InterContinental Hotels Group plc		6,136
	146,394		International Game Technology plc		871
	77,114		Invocare Ltd		500
	67,635	*	J Alexander’s Holdings, Inc		259
	27,941		Jack in the Box, Inc		979
	39,180	*,e	Jackpotjoy plc		354
	76,800	e	Japan Best Rescue System Co Ltd		432
	289,137		Jollibee Foods Corp		602
	59,434		Jubilant Foodworks Ltd		1,151
	407,207	e	Jumbo Interactive Ltd		2,366
	246,641	*	K12, Inc		4,652
	11,791	*,e	Kambi Group plc		111
	84,307		Kangwon Land, Inc		1,359
	12,870	*,e	Kappa Create Co Ltd		159
	10,900	e	Kisoji Co Ltd		242
	39,146	*,e	KNT-CT Holdings Co Ltd		262
	23,900		KOMEDA Holdings Co Ltd		368
	86,522		Koshidaka Holdings Co Ltd		293
	5,353	e	Kourakuen Holdings Corp		67
	5,402		Kura Corp		202
	6,798	*,e	Kura Sushi USA, Inc		81
	22,283		Kyoritsu Maintenance Co Ltd		490
	1,189,470		Las Vegas Sands Corp		50,517
	290,157	*	Laureate Education, Inc		3,050
	4,412		Leejam Sports Co JSC		61
	81,605	*,g	Lemon Tree Hotels Ltd		24
	158,741	e,g	LeoVegas AB		451
	192,461	*	Lindblad Expeditions Holdings, Inc		803
	2,835	*	Lotte Tour Development Co Ltd		20
	71,700	*,e	Luckin Coffee, Inc (ADR)		1,950
	1,178,504	*	Macau Legend Development Ltd		133

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,152,300		Magnum BHD	$	506
	246,600		Mandarin Oriental International Ltd		316
	425,563		Marriott International, Inc (Class A)		31,836
	62,162		Marriott Vacations Worldwide Corp		3,455
	328,866	e	Marston’s plc		166
	4,500		Matsuya Foods Co Ltd		164
	2,172,677		McDonald’s Corp		359,252
	69,399		McDonald’s Holdings Co Japan Ltd		3,130
	1,536		MegaStudyEdu Co Ltd		47
	9,800		Meiko Network Japan Co Ltd		69
	380,017		Melco Crown Entertainment Ltd (ADR)		4,712
	6,827,544		Melco International Development		9,786
	59,651	e	Melia Hotels International S.A.		251
	1,316,400	e	MGM China Holdings Ltd		1,331
	783,677		MGM Resorts International		9,247
	1		Minor International PCL (ADR)		0	^
	1,723,578		Minor International PCL (Foreign)		883
	170,000	*,e,g	Minsheng Education Group Co Ltd		23
	311,616	*	Mitchells & Butlers plc		697
	3,678		Modetour Network, Inc		29
	10,585	*	Monarch Casino & Resort, Inc		297
	2,617		Monogatari Corp		151
	12,600		MOS Food Services, Inc		292
	22,952	e	MTY Food Group, Inc		351
	3,120		Nathan’s Famous, Inc		190
	95,608	e	NetEnt AB		235
	255,898	*	New Oriental Education & Technology Group (ADR)		27,698
	68,726	*,e	Noodles & Co		324
	325,240	*	Norwegian Cruise Line Holdings Ltd		3,565
	6,700		Ohsho Food Service Corp		358
	22,000	*,e	OneSmart International Education Group Ltd (ADR)		112
	42,243	e	OneSpaWorld Holdings Ltd		172
	553,097		OPAP S.A.		4,167
	6,508	*	Orascom Development Holding AG.		54
	172,667		Oriental Land Co Ltd		22,042
	76,575	e	Paddy Power plc		6,888
	45,156	e	Pandox AB		373
	21,891	e	Papa John’s International, Inc		1,168
	9,535		Paradise Co Ltd		100
	209,646	e	Park Lawn Corp		2,458
	38,470	*,†	Patisserie Holdings plc		0	^
	151,687	*	Penn National Gaming, Inc		1,919
	150,266	e	Pepper Food Service Co Ltd		607
	513,918	*	Perdoceo Education Corp		5,545
	2,293	e	PIA Corp		47
	129,514	*	Planet Fitness, Inc		6,307
	260,881	*	PlayAGS, Inc		691
	151,056		Playtech Ltd		314
	10,385		Plenus Co Ltd		178
	1,024,817	*,e	PointsBet Holdings Ltd		1,626
	19,538	*	Potbelly Corp		60
	6,000		Power Wind Health Industry, Inc		26
	12,573		RCI Hospitality Holdings, Inc		125
	17,668		Recipe Unlimited Corp		109

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	26,703	*	Red Lion Hotels Corp	$	39
	13,379	*	Red Robin Gourmet Burgers, Inc		114
	221,823		Red Rock Resorts, Inc		1,897
	144,000		Regal Hotels International Holdings Ltd		58
	22,084	*	Regis Corp		131
	5,942		Renaissance, Inc		55
	3,732,129		Resorts World BHD		1,731
	110,600		Resorttrust, Inc		1,080
	272,582		Restaurant Brands International, Inc (Toronto)		10,984
	16,179	*	Restaurant Brands New Zealand Ltd		78
	255,103		Restaurant Group plc		131
	10,900	e	Ringer Hut Co Ltd		209
	4,600	*,e	RISE Education Cayman Ltd (ADR)		19
	52,800	e	Riso Kyoiku Co Ltd		140
	34,761		Round One Corp		181
	347,957	e	Royal Caribbean Cruises Ltd		11,194
	13,300	e	Royal Holdings Co Ltd		216
	53,708		Ruth’s Hospitality Group Inc		359
	15,000		Saizeriya Co Ltd		283
	2,931,959		Sands China Ltd		10,667
	38,895		Saudi Airlines Catering Co		775
	117,387	e,g	Scandic Hotels Group AB		349
	27,000	*	Scholar Education Group		35
	149,099	*,e	Scientific Games Corp (Class A)		1,446
	81,359	*	SeaWorld Entertainment, Inc		897
	30,609	*	Seera Group Holding		113
	159,034	*	Select Interior Concepts Inc		329
	12,196	g	Ser Educacional S.A.		36
	270,877		Service Corp International		10,594
	498,390	*	ServiceMaster Global Holdings, Inc		13,457
	4,800		SFP Holdings Co Ltd		62
	28,903	*,e	Shake Shack, Inc		1,091
	26,400	*	Shanghai Jinjiang International Hotels Development Co Ltd		89
	248,000		Shanghai Jinjiang International Hotels Group Co Ltd		41
	2,056,000		Shangri-La Asia Ltd		1,382
	110,900		Shenzhen Overseas Chinese Town Co Ltd		99
	342		Shinsegae Food Co Ltd		13
	109,200	*,e	Silver Life Co Ltd		2,009
	221,657		Six Flags Entertainment Corp		2,780
	1,002,000		SJM Holdings Ltd		836
	19,373		SkiStar AB		148
	1,361,550		Sky City Entertainment Group Ltd		1,505
	102,482	e	Skylark Co Ltd		1,519
	116,911	e	Sodexho Alliance S.A.		7,851
	53,800		Songcheng Performance Development Co Ltd		188
	1,159,340		SSP Group plc		4,368
	7,600		St Marc Holdings Co Ltd		122
	428,259		Star Entertainment Grp Ltd		569
	1,901,446		Starbucks Corp		125,001
	204,783	*	Stars Group, Inc		4,188
	46,205		Strategic Education, Inc		6,458
	4,200		Studio Alice Co Ltd		57

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,563	*	Sun International Ltd	$	29
	295,624		Sushiro Global Holdings Ltd		4,334
	1,681,245		Tabcorp Holdings Ltd		2,602
	341,968	*	TAL Education Group (ADR)		18,213
	33,459	*	Target Hospitality Corp		67
	174,028		Texas Roadhouse, Inc (Class A)		7,187
	108,000		Tianli Education International Holdings Ltd		47
	6,871	*	TKP Corp		79
	228,500	e	Tokyo Dome Corp		1,528
	8,285		Tokyotokeiba Co Ltd		215
	22,800	e	Toridoll.corp		243
	8,004		Tosho Co Ltd		73
	36,534	*	Transat AT, Inc		221
	1,527,652		Tsogo Sun Gaming Ltd		267
	110,684	*	Tsogo Sun Hotels Ltd		10
	450,834		TUI AG. (DI)		1,973
	16,285	e	Twin River Worldwide Holdings Inc		212
	119,382		Unibet Group plc (ADR)		437
	61,492		Vail Resorts, Inc		9,083
	11,092	e	Watami Co Ltd		96
	273,341		Wendy’s		4,067
	7,717	*	Westlife Development Ltd		33
	35,429		Wetherspoon (J.D.) plc		387
	111,508		Whitbread plc		4,133
	769,834		William Hill plc		638
	184,451		Wingstop, Inc		14,701
	128,000		Wisdom Education International Holdings Co Ltd		42
	50,665	*	WW International Inc		857
	400,912		Wyndham Destinations, Inc		8,700
	144,429		Wyndham Hotels & Resorts, Inc		4,551
	15,143,590		Wynn Macau Ltd		22,711
	388,771		Wynn Resorts Ltd		23,400
	664,200		YDUQS Part		2,834
	2,035	e	Yomiuri Land Co Ltd		62
	42,631	e	Yoshinoya D&C Co Ltd		822
	1,165,682		Yum China Holdings, Inc		49,693
	720,986		Yum! Brands, Inc		49,409
	151,557	e	Zensho Co Ltd		2,885
			TOTAL CONSUMER SERVICES		1,488,797
DIVERSIFIED FINANCIALS - 3.7%
	9,100	*	360 Finance, Inc (ADR)		73
	601,343		3i Group plc		5,827
	17,728		ABC Arbitrage		122
	34,679		Ackermans & Van Haaren		4,500
	254,070		Acom Co Ltd		1,032
	93,500		Aeon Credit Service M BHD		181
	5,608		AEON Financial Service Co Ltd		60
	15,700		Aeon Thana Sinsap Thailand PCL		47
	5,968		Affiliated Managers Group, Inc		353
	32,489		AG Mortgage Investment Trust		89
	76,045		AGF Management Ltd		162
	2,008,742		AGNC Investment Corp		21,252
	171,400	*	Aiful Corp		383

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,566		Aker ASA (A Shares)	$	260
	41,691	e	Alaris Royalty Corp		244
	2,801		Alerus Financial Corp		46
	1,126,395		Alexander Forbes Group Holdings Ltd		270
	754,322		Ally Financial, Inc		10,885
	297,764		Amanat Holdings PJSC		52
	3,284,405		American Express Co		281,178
	195,334		Ameriprise Financial, Inc		20,018
	630,005	e,g	Amigo Holdings plc		117
	3,177,856	*	AMP Ltd		2,595
	119,093	g	Amundi S.A.		6,891
	966,972	g	Anima Holding S.p.A		2,570
	3,348,046		Annaly Capital Management, Inc		16,975
	121,311		Anworth Mortgage Asset Corp		137
	320,300	*,†	Anxin Trust Co Ltd		96
	371,561		Apollo Commercial Real Estate Finance, Inc		2,757
	187,378	e	Ares Commercial Real Estate Corp		1,310
	179,565		Ares Management Corp		5,554
	36,778	e	Arlington Asset Investment Corp (Class A)		81
	133,027		ARMOUR Residential REIT, Inc		1,172
	250,802		Arrow Global Group plc		328
	294,907		Artisan Partners Asset Management, Inc		6,338
	11,078	*	Aseer Trading Tourism & Manufacturing Co		25
	1,558,046		Ashmore Group plc		6,860
	14,692	*	Assetmark Financial Holdings, Inc		300
	2,955		Associated Capital Group, Inc		90
	11,175		Aurelius AG.		203
	279,716		Australian Stock Exchange Ltd		13,130
	223,824		Avanza Bank Holding AB		1,847
	204,500		Avic Capital Co Ltd		112
	202,546	*	Axactor SE		119
	2,215	*,†	Ayala Corp Preferred		0	^
	210,387		Azimut Holding S.p.A.		2,994
	19,720		B. Riley Financial, Inc		363
	139,525	e	B2Holding ASA		48
	2,745,553		B3 SA-Brasil Bolsa Balcao		18,969
	280,764		Bajaj Finance Ltd		8,206
	367,453	g	Banca Farmafactoring S.p.A		1,889
	198,794		Banca Generali S.p.A		4,131
	45,019		Banca IFIS S.p.A.		433
	76,801		Banca Mediolanum S.p.A		385
	197,900		Banco BTG Pactual S.A.		1,266
	29,437		Banco Latinoamericano de Exportaciones S.A. (Class E)		303
	3,044,332		Bank of New York Mellon Corp		102,533
	421,971		BGC Partners, Inc (Class A)		1,063
	457,303		BlackRock, Inc		201,200
	273,384		Blackstone Group, Inc		12,458
	172,004		Blackstone Mortgage Trust, Inc		3,203
	142,502	*	Blucora, Inc		1,717
	1,510,000	e	BOCOM International Holdings Co Ltd		207
	211,200	*	Bohai Leasing Co Ltd		86
	211,405	e	Bolsa Mexicana de Valores S.A. de C.V.		323
	45,034		Bolsas y Mercados Espanoles		1,630

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	175,507	*,e	Brait S.A.	$	37
	319,602		Brewin Dolphin Holdings plc		868
	605,996		Brightsphere Investment Group, Inc		3,872
	951,645	e	Brookfield Asset Management, Inc		42,183
	1,917		BSE Ltd		8
	281,576		BT Investment Management Ltd		765
	55,869		Bure Equity AB		868
	348,073		Burford Capital Ltd		1,787
	188,400		Bursa Malaysia BHD		220
	189,200		Caitong Securities Co Ltd		268
	37,983	*,†	Calamos Asset Management, Inc		0
	224,593		Canaccord Financial, Inc		691
	251,998	*	Cannae Holdings, Inc		8,439
	1,002,235		Capital One Financial Corp		50,533
	360,990		Capital Securities Corp		112
	188,001		Capstead Mortgage Corp		790
	263,348		CBOE Global Markets, Inc		23,504
	99,449		Cembra Money Bank AG.		9,068
	26,310	e	Century Leasing System, Inc		823
	523,057		Cerved Information Solutions S.p.A		3,101
	2,000,058		Chailease Holding Co Ltd		6,024
	696,917		Challenger Financial Services Group Ltd		1,702
	303,800		Changjiang Securities Co Ltd		273
	3,760,073		Charles Schwab Corp		126,414
	33,196		Cherry Hill Mortgage Investment Corp		206
	283,608		Chimera Investment Corp		2,581
	199,000		China Bills Finance Corp		92
	7,439,105		China Cinda Asset Management Co Ltd		1,399
	841,925		China Everbright Ltd		1,234
	2,176,545		China Galaxy Securities Co Ltd		1,045
	9,879,000	g	China Huarong Asset Management Co Ltd		1,241
	1,091,200	e,g	China International Capital Corp Ltd		1,746
	299,700		China Merchants Securities Co Ltd		718
	328,292		CI Financial Corp		3,259
	6,030,215		CITIC Securities Co Ltd		10,935
	549,300		CITIC Securities Co Ltd (Class A)		1,703
	188,314		Close Brothers Group plc		2,618
	256,213	g	CMC Markets plc		564
	801,305		CME Group, Inc		138,554
	332,698		Coface S.A.		2,113
	60,503		Cohen & Steers, Inc		2,750
	182,458		Colony Credit Real Estate, Inc		719
	81,600		Concentradora Hipotecaria SAPI de C.V.		58
	539,903		Coronation Fund Managers Ltd		950
	20,795		Corp Financiera Alba		797
	189,719	*	Corp Financiera Colombiana S.A.		1,204
	26,016		Cowen Group, Inc		251
	16,109	*,e	Credit Acceptance Corp		4,119
	27,053		Credit Corp Group Ltd		227
	46,566		Credit Saison Co Ltd		540
	5,085,143		Credit Suisse Group		41,044
	52,551		Credito Real SAB de C.V.		39
	17,685		CRISIL Ltd		293
	148,800	*	CSC Financial Co Ltd		645

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	101,186		Curo Group Holdings Corp	$	536
	86,922	*,e	Curves Holdings Co Ltd		415
	370,783		Daewoo Securities Co Ltd		1,587
	7,237		Daishin Securities Co Ltd		50
	3,640		Daishin Securities Co Ltd PF		23
	1,673,177	*	Daiwa Securities Group, Inc		6,466
	2,935		Daou Data Corp		15
	90,179		Daou Technology, Inc		1,086
	43,476		DeA Capital S.p.A.		53
	193,105		Deutsche Bank AG. (Registered)		1,228
	19,092		Deutsche Beteiligungs AG.		541
	30,977		Deutsche Boerse AG.		4,256
	3,125		Diamond Hill Investment Group, Inc		282
	918,261		Discover Financial Services		32,754
	20,776	g	doBank S.p.A		127
	134,200		Dongxing Securities Co Ltd		204
	31,038	*	Donnelley Financial Solutions, Inc		164
	437,171	*	Dubai Financial Market		65
	30,423		Dynex Capital, Inc		318
	207,018		E*TRADE Financial Corp		7,105
	369,800		East Money Information Co Ltd		830
	22,297		Eaton Vance Corp		719
	259,896		ECN Capital Corp		694
	10,907,287		Edelweiss Capital Ltd		5,527
	5,412	*,e	EFG Financial Products Holding AG.		211
	150,798	e	EFG International		849
	131,600	e	eGuarantee, Inc		1,919
	190,293		Egyptian Financial Group-Hermes Holding		100
	494,526	e	Element Financial Corp		3,149
	22,354	*	Elevate Credit, Inc		23
	280,844		Ellington Financial Inc		1,604
	31,650	*,e	Encore Capital Group, Inc		740
	272,060	*	Enova International, Inc		3,942
	416,988	*,e	EQT AB		4,958
	194,294	*	Equitas Holdings Ltd		109
	12,415		Eurazeo		557
	923,673	g	Euronext NV		68,013
	161,800		Everbright Securities Co Ltd		248
	62,580		Evercore Inc		2,882
	52,324		EXOR NV		2,697
	65,931	*	Ezcorp, Inc (Class A)		275
	32,678		Factset Research Systems, Inc		8,518
	2,005,076		Far East Horizon Ltd		1,605
	222,129		Federated Investors, Inc (Class B)		4,232
	275,277		FGL Holdings		2,698
	62,971		Fiera Capital Corp		293
	28,600		Financial Products Group Co Ltd		144
	9,089	*,e	FinTech Group AG.		272
	15,500	*	FinVolution Group (ADR)		28
	181,100	*	First Capital Securities Co Ltd		175
	3,206,000		First Pacific Co		592
	97,396	e	FirstCash, Inc		6,987
	6,817,973	e	FirstRand Ltd		15,300

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,270,523		FlexiGroup Ltd	$	587
	49,862	e,g	Flow Traders		1,501
	109,939	*	Focus Financial Partners, Inc		2,530
	534,600		Founder Securities Co Ltd		536
	50,442	e	Franklin Resources, Inc		842
	18,792,690		Fuhwa Financial Holdings Co Ltd		9,595
	260,432	*,e,g	Funding Circle Holdings plc		178
	19,384		Fuyo General Lease Co Ltd		981
	17,965	e	Gain Capital Holdings, Inc		100
	4,785		GAMCO Investors, Inc (Class A)		53
	6,530,188	e	Gentera SAB de C.V.		2,494
	909,800	*	GF Securities Co Ltd		967
	295,500	*	GF Securities Co Ltd (Class A)		566
	9,874		Gimv NV		513
	23,900		GMO Financial Holdings, Inc		101
	263,558	e	goeasy Ltd		6,815
	292,365		Goldman Sachs Group, Inc		45,197
	50,752		Granite Point Mortgage Trust, Inc		257
	62,693		Great Ajax Corp		399
	111,122	*	Green Dot Corp		2,821
	15,118		Greenhill & Co, Inc		149
	14,425		GRENKELEASING AG.		831
	28,368		Groupe Bruxelles Lambert S.A.		2,232
	223,154		Grupo de Inversiones Suramericana S.A.		1,100
	13,493		Gruppo MutuiOnline S.p.A		226
	152,900		Guosen Securities Co Ltd		237
	1,406,800	e	Guotai Junan International Hol		183
	445,100		Guotai Junan Securities Co Ltd		1,013
	588,600	g	Guotai Junan Securities Co Ltd (Hong Kong)		869
	170,900	*	Guoyuan Securities Co Ltd		199
	2,062	*,e	GWG Holdings Inc		21
	832,289		Haci Omer Sabanci Holding AS		938
	1,810,562		Haitong Securities Co Ltd		1,645
	503,200		Haitong Securities Co Ltd (Class A)		905
	21,745		Hamilton Lane, Inc		1,203
	4,585		Hankook Tire Worldwide Co Ltd		32
	25,643	*	Hanwha Securities Co		29
	82,345		Hargreaves Lansdown plc		1,399
	34,263	g	HDFC Asset Management Co Ltd		954
	77,325		Hellenic Exchanges S.A.		283
	26,100	e	Hitachi Capital Corp		491
	27,400	*	Hithink RoyalFlush Information Network Co Ltd		413
	39,409	*,e,g	Hoist Finance AB		96
	1,535,292		Hong Kong Exchanges and Clearing Ltd		45,996
	41,663		Houlihan Lokey, Inc		2,171
	230,300		Huaan Securities Co Ltd		249
	1,088,600	g	Huatai Securities Co Ltd		1,606
	424,516		Huatai Securities Co Ltd (Class A)		1,024
	140,700		Huaxi Securities Co Ltd		206
	116,364		HUB24 Ltd		523
	27,684	*	Hypoport AG.		7,927
	14,100		IBJ Leasing Co Ltd		275
	17,912		Ichiyoshi Securities Co Ltd		74
	13,538	g	ICICI Securities Ltd		49

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	540,329		IG Group Holdings plc	$	4,636
	159,179		IGM Financial, Inc		2,641
	18,044		IIFL Wealth Management Ltd		239
	236,150		IMF Australia Ltd		558
	58,537		Indiabulls Housing Finance Ltd		75
	108,992		Indiabulls Securities Ltd		156
	7,782	g	Indian Energy Exchange Ltd		13
	305,400		Industrial Securities Co Ltd		266
	49,102		Industrivarden AB		940
	163,409		Infrastructure Development Finance Co Ltd		32
	424,711		IntegraFin Holdings plc		2,277
	109,534		Interactive Brokers Group, Inc (Class A)		4,729
	1,220,688		Intercontinental Exchange Group, Inc		98,571
	564,368		Intermediate Capital Group plc		6,229
	116,204		International Personal Finance plc		110
	69,462	*	INTL FCStone, Inc		2,519
	92,359		Inversiones La Construccion S.A.		591
	71,417	e	Invesco Ltd		648
	301,904		Invesco Mortgage Capital, Inc		1,029
	206,440		Investec Ltd		391
	1,534,623	e	Investec plc		2,859
	14,425		Investment AB Oresund		155
	105,760		Investor AB (B Shares)		4,771
	163,896	e	IOOF Holdings Ltd		370
	9,650		iShares Core S&P 500 ETF		2,494
	30,000	e	iShares Dow Jones US Real Estate Index Fund		2,087
	21,300	e	iShares MSCI ACWI ex US ETF		802
	654,399	e	iShares MSCI Canada Index Fund		14,299
	3,222,795		iShares MSCI EAFE Index Fund		172,291
	12,800	e	iShares MSCI EAFE Small-Cap ETF		574
	1,995,630	e	iShares MSCI Emerging Markets		68,111
	5,000	e	iShares MSCI Emerging Markets Small-Cap ETF		160
	3,498		iShares MSCI India Small-Cap ETF		81
	290	e	iShares MSCI South Korea Index Fund		14
	100	e	iShares Russell 2000 Index Fund		11
	180,000	e	iShares Russell Midcap Growth Index Fund		21,886
	72,689		Isracard Ltd		195
	166,700	e	J Trust Co Ltd		347
	59,917		Jaccs Co Ltd		1,016
	83,810	*	Jafco Co Ltd		2,179
	19,133		Janus Henderson Group plc		293
	68,738	e	Japan Investment Adviser Co Ltd		396
	44,800		Japan Securities Finance Co Ltd		204
	388,698		Jefferies Financial Group, Inc		5,313
	9,800	*,e	Jianpu Technology, Inc (ADR)		8
	321,428		Jih Sun Financial Holdings Co Ltd		93
	298,655		JM Financial Ltd		256
	187,398	e	JSE Ltd		1,076
	54,064		Julius Baer Group Ltd		1,811
	192,506	*	Julius Baer Holding AG.		358
	548,483		Jupiter Investment Management Group Ltd		1,345
	121,833		KBC Ancora		3,383
	23,792	*	Kinnevik AB		388

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,442		KIWOOM Securities Co Ltd	$	196
	178,720		KKR Real Estate Finance Trust, Inc		2,683
	39,125		Korea Investment Holdings Co Ltd		1,577
	3,598		KRUK S.A.		57
	59,039	*	Kumho Investment Bank		22
	4,155		Kyobo Securities Co		20
	9,800		Kyokuto Securities Co Ltd		53
	207,456		Ladder Capital Corp		983
	14,257		Lazard Ltd (Class A)		336
	10,319		Legg Mason, Inc		504
	119,420	*	LendingClub Corp		937
	407,329		London Stock Exchange Group plc		36,438
	352,095		LPL Financial Holdings, Inc		19,165
	90,639	e	Lundbergs AB (B Shares)		3,674
	7,400	*	M&A Capital Partners Co Ltd		176
	5,403,602	*	M&G plc		7,516
	400,558		Macquarie Group Ltd		21,333
	168,287		Magellan Financial Group Ltd		4,463
	247,736		Mahindra & Mahindra Financial Services Ltd		481
	33,055,148		Man Group plc		50,586
	44,577		Manappuram General Finance & Leasing Ltd		55
	74,633		MarketAxess Holdings, Inc		24,821
	8,628		Marlin Business Services Corp		96
	27,300		Marusan Securities Co Ltd		115
	60,600	e	Matsui Securities Co Ltd		444
	21,087	*	Medallion Financial Corp		39
	8,919		Meritz finance Holdings Co Ltd		75
	319,885		Meritz Securities Co Ltd		738
	31,692,906		Metro Pacific Investments Corp		1,505
	686,837		MFA Financial Inc		1,065
	348,370		Mitsubishi UFJ Lease & Finance Co Ltd		1,705
	122,422		MLP AG.		627
	46,515		Moelis & Co		1,307
	24,295		Moelis Australia Ltd		26
	83,100	*,e	Monex Beans Holdings, Inc		131
	271,468		Moody’s Corp		57,415
	8,495,723	n	Morgan Stanley		288,855
	48,379		Morningstar, Inc		5,624
	31,349		Motilal Oswal Financial Services Ltd		205
	140,871		MSCI, Inc (Class A)		40,706
	448,200		Muangthai Capital PCL		475
	124,786		Multi Commodity Exchange of India Ltd		1,850
	169,000		Nanjing Securities Co Ltd		369
	176,659		Nasdaq Inc		16,774
	347,196	e	Natixis		1,106
	315,227		Navient Corp		2,389
	321,290		Navigator Global Investments Ltd		465
	10,599		NEC Capital Solutions Ltd		180
	23,448		Nelnet, Inc (Class A)		1,065
	77,061	e	Netwealth Group Ltd		316
	606,589		New Residential Investment Corp		3,039
	555,692	e	New York Mortgage Trust, Inc		861
	56,823	*,†	NewStar Financial, Inc		14
	29,580		NICE Holdings Co Ltd		440

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,606	*	Ninety One Ltd	$	61
	21,800	*,e	Noah Holdings Ltd (ADR)		564
	1,868,549	*	Nomura Holdings, Inc		7,885
	84,000		Northeast Securities Co Ltd		97
	38,733		Northern Trust Corp		2,923
	32,738		Numis Corp plc		84
	428,993		Okasan Holdings, Inc		1,353
	420,968	*	On Deck Capital, Inc		648
	389,828		OneMain Holdings, Inc		7,454
	137,285		Onex Corp		5,025
	6,918	*,e	Oportun Financial Corp		73
	9,575		Oppenheimer Holdings, Inc		189
	56,070	e	Orchid Island Capital, Inc		165
	812,100		Orient Corp		905
	321,100		Orient Securities Co Ltd		409
	3,914,170		ORIX Corp		46,699
	546,750		Osaka Securities Exchange Co Ltd		9,595
	142,259		P2P Global Investments plc		1,231
	392,100	*	Pacific Securities Co Ltd		182
	11,855		Pargesa Holding S.A.		783
	5,725		Partners Group		3,920
	116,894		PennyMac Mortgage Investment Trust		1,241
	354,511		Peregrine Holdings Ltd		303
	48,320	e	Perpetual Trustees Australia Ltd		737
	16,965	*	Pico Holdings, Inc		132
	684,780	e	Pinnacle Investment Management Group Ltd		1,173
	733,778	*	Pioneers Holding		141
	13,085		Piper Jaffray Cos		662
	34,894		PJT Partners, Inc		1,514
	226,651	e	Platinum Asset Mangement Ltd		462
	52,429		Plus500 Ltd		694
	1,811,124		Power Finance Corp Ltd		2,187
	44,576	*	PRA Group, Inc		1,236
	160,082		President Securities Corp		69
	295,266		Provident Financial plc		789
	124,918		PSG Group Ltd		900
	2,526,500	*	PT Kresna Graha Investama Tbk		41
	110,222		Pzena Investment Management, Inc (Class A)		492
	32,200	*,e	Qudian, Inc (ADR)		58
	2,645,523	g	Quilter plc		3,833
	281,718		Ratchthani Leasing PCL		34
	26,196		Rathbone Brothers		481
	781,590		Ratos AB (B Shares)		1,608
	20,785		Raymond James Financial, Inc		1,314
	272,396		Ready Capital Corp		1,967
	264,835		Redwood Trust, Inc		1,340
	69,585	*	Regional Management Corp		951
	183,008		Reinet Investments S.C.A		2,914
	463,409		Remgro Ltd		3,168
	27,426		Repco Home Finance Ltd		43
	1,105,566	g	Resurs Holding AB		3,753
	7,461		Ricoh Leasing Co Ltd		196
	669,624		RMB Holdings Ltd		1,831

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,564,884		Rural Electrification Corp Ltd	$	1,832
	759,533		S&P Global, Inc		186,124
	27,566		Safeguard Scientifics, Inc		153
	106,474		Samsung Card Co		2,624
	62,027		Samsung Securities Co Ltd		1,486
	75,693		Sanne Group plc		582
	159,116		Santander Consumer USA Holdings, Inc		2,213
	135,647	*	SBI Holdings, Inc		1,976
	18,595		Schroders plc		568
	23,956		Sculptor Capital Management, Inc		324
	145,100		SDIC Capital Co Ltd		247
	215,670	*	Sealand Securities Co Ltd		132
	200,172		SEI Investments Co		9,276
	6,400		Shanghai AJ Group Co Ltd		7
	65,200	*	Shanghai Dajiang Group		23
	8,900		Shanxi Securities Co Ltd		9
	68,000	e	Sheng Ye Capital Ltd		58
	1,039,500		Shenwan Hongyuan Group Co Ltd		641
	809	*	Shinyoung Securities Co Ltd		30
	165,396		Shriram Transport Finance Co Ltd		1,446
	1,227,132	*	SHUAA Capital PSC		149
	8,563	*,e	Siebert Financial Corp		62
	7,745		Silvercrest Asset Management Group, Inc		73
	1,586,863		Singapore Exchange Ltd		10,220
	158,800		Sinolink Securities Co Ltd		203
	17,840,000	e	Skyway Securities Group Ltd		322
	631,380		SLM Corp		4,540
	768,475	*,†,e	SNS Reaal		8
	2,586		Societe Fonciere Financiere et de Participations FFP		161
	7,987		Sofina S.A.		1,624
	208,250		SooChow Securities Co Ltd		229
	180,800		Southwest Securities Co Ltd		114
	3,246	*	Spandana Sphoorty Financial Ltd		25
	43,558		Sparx Group Co Ltd		67
	8,000	e	SPDR Trust Series 1		2,062
	218,521	e	Sprott, Inc		356
	607,000		Srisawad Corp PCL		781
	731,858		St. James’s Place plc		6,834
	2,569,225		Standard Life Aberdeen plc		7,091
	1,362,976		Starwood Property Trust, Inc		13,971
	949,668		State Street Corp		50,589
	127,067		Stifel Financial Corp		5,245
	92,195		Strike Co Ltd		2,989
	349,000		Sun Hung Kai & Co Ltd		131
	21,804		Sundaram Finance Ltd		346
	7,365		Swissquote Group Holding S.A.		422
	439,985		Synchrony Financial		7,079
	33,766		T Rowe Price Group, Inc		3,297
	1,206,538		Tai Fook Securities Group Ltd		306
	671,100		Taiwan Acceptance Corp		1,911
	53,549		Tamburi Investment Partners S.p.A.		329
	2,820		Tata Investment Corp Ltd		25
	153,360		TD Ameritrade Holding Corp		5,315
	1,200,000	*	Tel Aviv Stock Exchange Ltd		4,044

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	64,905		TMX Group Ltd	$	4,832
	101,480		Tokai Tokyo Securities Co Ltd		230
	20,553	*	Tong Yang Investment Bank		33
	262,128		TPG RE Finance Trust, Inc		1,439
	105,800		Transaction Capital Ltd		72
	440,720		Tullett Prebon plc		1,833
	407,859		Two Harbors Investment Corp		1,554
	1,679		Ubiquoss Holdings, Inc		28
	3,903,775		UBS Group AG		35,782
	85,556		Ujjivan Financial Services Ltd		168
	335,900	e	Unifin Financiera SAPI de CV		269
	156,128	*	Uranium Participation Corp		433
	7,500	*	Uzabase, Inc		96
	247		Value Line, Inc		8
	570,000	e	Value Partners Group Ltd		242
	2,420		Vanguard Emerging Markets ETF		81
	25,000		Vanguard FTSE Developed Markets ETF		833
	7,850	*	Velocity Financial, Inc		59
	189,758		Virtu Financial, Inc		3,951
	6,656		Virtus Investment Partners, Inc		507
	178,956	e	Vontobel Holding AG.		8,705
	1,887,360		Voya Financial, Inc		76,532
	5,062		VP Bank AG.		648
	1,452		VZ Holding AG.		489
	69,061		Waddell & Reed Financial, Inc (Class A)		786
	99,641		Warsaw Stock Exchange		827
	425,904		Waterland Financial Holdings		146
	27,405		Wendel		2,175
	48,142		Western Asset Mortgage Capital Corp		110
	177,800		Western Securities Co Ltd		206
	19,665		Westwood Holdings Group, Inc		360
	190,304		WisdomTree Investments, Inc		443
	143,531		Woori Investment & Securities Co Ltd		1,050
	5,182	*,e	World Acceptance Corp		283
	8,800	e	X Financial (ADR)		9
	185,628	*	XP, Inc		3,581
	4,700	*,e	Yintech Investment Holdings Ltd (ADR)		28
	2,442,000	*,e,g	Yixin Group Ltd		396
	218,631		Zeder Investments Ltd		54
	145,893		Zenkoku Hosho Co Ltd		4,590
	144,500	*	Zheshang Securities Co Ltd		203
	872,748	*	Zip Co Ltd		831
			TOTAL DIVERSIFIED FINANCIALS		3,301,243
ENERGY - 2.7%
	151,830	*	Abraxas Petroleum Corp		18
	38,784,004		Adaro Energy Tbk		2,317
	214,390	*,e	Advantage Oil & Gas Ltd		218
	17,436		Aegis Logistics Ltd		32
	12,610,000	e	Agritrade Resources Ltd		291
	415,724		Aker BP ASA		5,215
	78,136	*,e	Aker Solutions ASA		40
	42,257	*	Aldrees Petroleum and Transport Services Co		630

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,430	*,e	Altus Midstream Co	$	33
	13,544		Amplify Energy Corp		8
	317,964		Anglo Pacific Group plc		446
	416,558	e	Antero Midstream Corp		875
	37,458	*,e	Antero Resources Corp		27
	358,000	e	Anton Oilfield Services Group		23
	557,740		Apache Corp		2,331
	294,435	*	Apergy Corp		1,693
	403,260	e	ARC Resources Ltd		1,161
	14,217	e	Arch Coal, Inc		411
	233,993		Archrock, Inc		880
	37,424		Ardmore Shipping Corp		196
	1,338,883		Baker Hughes Co		14,058
	220,100		Bangchak Corp PCL		100
	4,407,060		Banpu PCL (Foreign)		701
	636,315	*,e	Baytex Energy Trust		151
	3,216,906		Beach Petroleum Ltd		2,242
	59,492		Berry Petroleum Co LLC		143
	591,604		Bharat Petroleum Corp Ltd		2,476
	285,689	e	Birchcliff Energy Ltd		158
	17,134	*	Bonanza Creek Energy, Inc		193
	40,817	*,e	Borr Drilling Ltd		20
	17,101,619		BP plc		70,133
	535,965		BP plc (ADR)		13,072
	205,963		Brigham Minerals, Inc		1,703
	4,650,000	*,†,e	Brightoil Petroleum Holdings Ltd		675
	11,315,200	*	Bumi Armada BHD		342
	1,005,236	g	BW LPG Ltd		3,030
	964,129	*	BW Offshore Ltd		1,658
	364,069		Cabot Oil & Gas Corp		6,258
	112,530		Cactus, Inc		1,305
	1,803,700	*	Cairn Energy plc		1,710
	362,792	*	Callon Petroleum Co		199
	307,360		Caltex Australia Ltd		4,150
	314,375		Cameco Corp (Toronto)		2,397
	466,097	e	Canacol Energy Ltd		1,182
	1,150,754	e	Canadian Natural Resources Ltd (Canada)		15,741
	1,017,806		Cenovus Energy, Inc (Toronto)		2,054
	264,264	*	Centennial Resource Development, Inc		70
	286,121	e	CES Energy Solutions Corp		165
	2,417,117	*,e	CGG S.A.		2,114
	31,857	*,e	Chaparral Energy Inc		15
	784,766	*	Cheniere Energy, Inc		26,290
	11,387	*	Chennai Petroleum Corp Ltd		9
	118,975	*,e	Chesapeake Energy Corp		21
	5,373,176		Chevron Corp		389,340
	135,506		China Aviation Oil Singapore Corp Ltd		81
	3,142,000		China Coal Energy Co		864
	426,000	*	China LNG Group Ltd		15
	381,200		China Merchants Energy Shipping Co Ltd		339
	7,657,126		China Oilfield Services Ltd		5,846
	283,300		China Shenhua Energy Co Ltd		643
	3,521,195		China Shenhua Energy Co Ltd (Hong Kong)		6,653

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,026,000		China Shipping Development Co Ltd	$	543
	9,125,000		China Suntien Green Energy Cor		1,580
	42,368		Cimarex Energy Co		713
	1,260,799	*	Clean Energy Fuels Corp		2,244
	29,008,946		CNOOC Ltd		30,145
	182,658	*	CNX Resources Corp		972
	1,594,033		Coal India Ltd		2,929
	118	*,†,b	Cobalt International Energy, Inc		0	^
	91,939		Computer Modelling Group Ltd		250
	15,026	*,e	Comstock Resources Inc		81
	440,623		Concho Resources, Inc		18,881
	3,099,648		ConocoPhillips		95,469
	75,816	*,e	CONSOL Energy, Inc		280
	35,905	e	Continental Resources, Inc		274
	18,072	*	Contura Energy Inc		42
	1,178,642	*	Cooper Energy Ltd		299
	125,728		Cosan SA Industria e Comercio		1,301
	295,900	*	COSCO SHIPPING Energy Transportation Co Ltd		308
	30,858		Cosmo Energy Holdings Co Ltd		431
	33,892	*,e	Covia Holdings Corp		19
	1,276,532	e	Crescent Point Energy Corp		989
	64,527		CropEnergies AG.		555
	28,686		CVR Energy, Inc		474
	733,374		Dana Gas PJSC		114
	2,490		Delek Group Ltd		65
	154,582		Delek US Holdings, Inc		2,436
	499,897	*,e	Denbury Resources, Inc		92
	584,991		Devon Energy Corp		4,042
	508,936		DHT Holdings, Inc		3,904
	10,638,251		Dialog Group BHD		7,474
	74,964	*,e	Diamond Offshore Drilling, Inc		137
	26,559	*	Diamond S Shipping Inc		314
	268,326		Diamondback Energy, Inc		7,030
	445,587		Diversified Gas & Oil plc		488
	13,077	e	DMC Global, Inc		301
	337,885	*,e	DNO International ASA		93
	28,540	*	Dommo Energia S.A.		3
	294,976	*	Dorian LPG Ltd		2,569
	10,767	*	Drilling Co of 1972		205
	50,963	*	Dril-Quip, Inc		1,554
	979		E1 Corp		22
	40,155	*	Earthstone Energy, Inc		71
	7,639,535		Ecopetrol S.A.		3,573
	340,100		Empresas COPEC S.A.		1,947
	430,500		Enauta Participacoes S.A.		758
	2,247,571		Enbridge, Inc (Toronto)		65,448
	318,078	e	Enerflex Ltd		1,318
	1,168,600	*,†	Energy Earth PCL		0	^
	88,379	*,e	Energy Fuels, Inc		104
	1	*	Energy Transfer LP		0	^
	251,962	e	Enerplus Resources Fund		371
	812,844		ENI S.p.A.		8,078
	5,079,020	*,e	Enquest plc (London)		480

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	137,528	e	Ensign Energy Services, Inc	$	51
	1,950,963		EOG Resources, Inc		70,079
	109,061		EQT Corp		771
	2,537,429		Equinor ASA		31,632
	35,972	*	Equital Ltd		693
	88,991	e	Equitrans Midstream Corp		448
	24,524	*	Era Group, Inc		131
	148,200		Esso Malaysia BHD		106
	216,100		Esso Thailand PCL (Foreign)		28
	22,931		Etablissements Maurel et Prom		37
	720,421		Euronav NV		8,200
	91,078		Evolution Petroleum Corp		238
	15,019	*,e	Exmar NV		68
	102,228	*	Exterran Corp		491
	80,628	*,e	Extraction Oil & Gas, Inc		34
	446,079	e	Exxaro Resources Ltd		2,445
	7,038,542		Exxon Mobil Corp		267,253
	87,675	e	Falcon Minerals Corp		189
	15,454	e	FLEX LNG Ltd		78
	1,162,714		Formosa Petrochemical Corp		3,104
	250,468	*	Forum Energy Technologies, Inc		44
	107,841	*	Frank’s International NV		279
	107,118	e	Freehold Royalty Trust		224
	167,639	e	Frontera Energy Corp		411
	652,704	e	Frontline Ltd (Sigmax MTF)		6,465
	34,369	*,e	FTS International, Inc		8
	79,884	*,e	Fugro NV		322
	192,222		Galp Energia SGPS S.A.		2,198
	72,465	e	GasLog Ltd		262
	6,630,184		Gazprom (ADR)		30,234
	21,124		Gaztransport Et Technigaz S.A.		1,521
	13,439	*	Geospace Technologies Corp		86
	404,936	e	Gibson Energy, Inc		4,676
	108,961		Golar LNG Ltd		859
	7,227	*	Goodrich Petroleum Corp		31
	60,064		Great Eastern Shipping Co Ltd		163
	57,334	*	Green Plains Inc		278
	82,807		Grupa Lotos S.A.		1,033
	68,809		GS Holdings Corp		2,074
	902,500		Guanghui Energy Co Ltd		326
	1,175,699	*	Gulf International Services QSC		310
	99,739		Gulf Keystone Petroleum Ltd		84
	150,235	*	Gulfport Energy Corp		67
	15,804		Hallador Energy Co		15
	1,072,026		Halliburton Co		7,343
	162		Hankook Shell Oil Co Ltd		33
	524,576	*	Helix Energy Solutions Group, Inc		860
	78,094		Helmerich & Payne, Inc		1,222
	501,693	n	Hess Corp		16,706
	229,600	*	Hibiscus Petroleum BHD		18
	226,068	*	HighPoint Resources Corp		43
	1,193,717		Hindustan Petroleum Corp Ltd		2,993
	22,498		Hoegh LNG Holdings Ltd		23
	300,226		HollyFrontier Corp		7,359

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	515,000	*	Honghua Group Ltd	$	16
	129,638		Hunting plc		276
	4,139,273	*,e	Hurricane Energy plc		546
	309,025	e	Husky Energy, Inc		777
	187,409		Idemitsu Kosan Co Ltd		4,277
	283,919		Imperial Oil Ltd		3,210
	7,171	*	Independence Contract Drilling, Inc		10
	1,677,962		Indian Oil Corp Ltd		1,805
	1,229,500		Inner Mongolia Yitai Coal Co		797
	1,738,023		Inpex Holdings, Inc		9,750
	369,602	e	Inter Pipeline Ltd		2,211
	75,174		International Seaways, Inc		1,796
	11,187,307		IRPC PCL (Foreign)		720
	166,253		Itochu Enex Co Ltd		1,292
	243,577	e	Japan Petroleum Exploration Co		3,992
	523,972	e	John Wood Group plc		997
	2,489,280		JX Holdings, Inc		8,482
	179,481	*,e	Kelt Exploration Ltd		140
	301,327	e	Keyera Corp		2,801
	1,606,955		Kinder Morgan, Inc		22,369
	49,667	*,e	KLX Energy Services Holdings, Inc		35
	58,971		Koninklijke Vopak NV		3,097
	690,672		Kosmos Energy Ltd		619
	61,108	e	Kvaerner ASA		37
	169,351	*	Laredo Petroleum Holdings, Inc		64
	167,549	e	Liberty Oilfield Services, Inc		451
	19,301		Lubelski Wegiel Bogdanka S.A.		83
	599,566		LUKOIL PJSC (ADR)		35,470
	1,080,210	e	Lundin Petroleum AB		20,391
	96,024	*,e	Magnolia Oil & Gas Corp		384
	13,419	e	Mammoth Energy Services, Inc		10
	1,114,889		Marathon Oil Corp		3,668
	827,736		Marathon Petroleum Corp		19,551
	109,418	*,e	Matador Resources Co		271
	185,910	*	Matrix Service Co		1,761
	289,591	*	MEG Energy Corp		344
	75,400	e	Mitsuuroko Co Ltd		789
	10,230		Modec, Inc		123
	645,105		MOL Hungarian Oil & Gas plc		3,785
	33,435	*,e	Montage Resources Corp		75
	54,754		Motor Oil Hellas Corinth Refineries S.A.		668
	16,911	e	Murphy Oil Corp		104
	342,522	e	Nabors Industries Ltd		134
	79,088	*	Naphtha Israel Petroleum Corp Ltd		278
	23,861	*,e	National Energy Services Reunited Corp		121
	650,644		National Oilwell Varco, Inc		6,396
	85,630	*	Natural Gas Services Group, Inc		382
	9,639	*	NCS Multistage Holdings, Inc		6
	761,529		Neste Oil Oyj		25,319
	684,756	e	New Hope Corp Ltd		579
	320,984		New Zealand Refining Co Ltd		149
	426,000	*,e	Newocean Energy Holdings Ltd		63
	92,479	*	Newpark Resources, Inc		83

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	344,344	*,e	NexGen Energy Ltd	$	264
	9,274	*,e	NextDecade Corp		17
	1,213,032	*	NexTier Oilfield Solutions, Inc		1,419
	12,122	*,e	Nine Energy Service, Inc		10
	283,346	*,e	Noble Corp plc		74
	701,324		Noble Energy, Inc		4,236
	325,173		Nordic American Tankers Ltd		1,473
	278,056	*,e	Northern Oil And Gas, Inc		184
	82,551		Novatek PJSC (GDR)		9,518
	258,970	*,e	NuVista Energy Ltd		89
	301,454	*	Oasis Petroleum, Inc		106
	387,034	e	Occidental Petroleum Corp		4,482
	33,096	e	Ocean Yield ASA		74
	106,509	*	Oceaneering International, Inc		313
	49,856	*	Odfjell Drilling Ltd		36
	372,900		Offshore Oil Engineering Co Ltd		255
	2,824,100		Oil & Gas Development Co Ltd		1,303
	46,511		Oil India Ltd		50
	1,571,853		Oil Refineries Ltd		427
	1,315,549		Oil Search Ltd		1,908
	95,517	*	Oil States International, Inc		194
	260,646	e	OMV AG.		7,133
	672,298		ONEOK, Inc		14,663
	1,464,895		Origin Energy Ltd		3,937
	78,858	*	Overseas Shipholding Group, Inc		179
	234,247	e	Ovintiv, Inc		643
	301,010		Pakistan Oilfields Ltd		476
	47,912		Pakistan State Oil Co Ltd		35
	14,896		Panhandle Oil and Gas, Inc (Class A)		55
	51,308	*	Par Pacific Holdings, Inc		364
	251,705	*,e	Paramount Resources Ltd (Class A)		202
	341,892	*	Parex Resources, Inc		2,891
	146,716	e	Parkland Fuel Corp		2,587
	5,909,120		Parsley Energy, Inc		33,859
	87,297		Pason Systems, Inc		388
	23,702		Patterson-UTI Energy, Inc		56
	5,279		Paz Oil Co Ltd		441
	190,466		PBF Energy, Inc		1,349
	128,077	*	PDC Energy, Inc		795
	119,752		Peabody Energy Corp		347
	487,058	e	Pembina Pipeline Income Fund		9,137
	1,700	*,†	Pengrowth Energy Corp		0	^
	49,358	*	Penn Virginia Corp		153
	19,500	*	Petro Rio S.A.		63
	134,490	e	Petrofac Ltd		322
	4,311,605		Petroleo Brasileiro S.A.		11,733
	8,161,619		Petroleo Brasileiro S.A. (Preference)		21,974
	415,072	*,e	Petroleum Geo-Services ASA		119
	706,100		Petron		35
	311,459		Petronas Dagangan BHD		1,537
	547,156		Petronet LNG Ltd		1,445
	186,452	e	Peyto Exploration & Development Corp		197
	882,971		Phillips 66		47,371
	696,300		Pilipinas Shell Petroleum Corp		258

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	329,607		Pioneer Natural Resources Co	$	23,122
	2,023,556		Plains All American Pipeline LP		10,684
	921,263		Plains GP Holdings LP		5,168
	2,881,910		Polish Oil & Gas Co		2,380
	272,327		Polski Koncern Naftowy Orlen S.A.		3,644
	100,100	*,†	Poseidon Concepts Corp		1
	351,916	e	PrairieSky Royalty Ltd		1,858
	1,607,710	*,e	Precision Drilling Trust		503
	2,791,126	*,e	Premier Oil plc		576
	157,300		Prima Marine PCL		21
	523	*	PrimeEnergy Corp		39
	245,644	*	ProPetro Holding Corp		614
	157,200	*	PT Alfa Energi Investama Tbk		1
	11,451,100	*	PT Bumi Resources Tbk		35
	324,200		PT Indika Energy Tbk		14
	90,800		PT Indo Tambangraya Megah		45
	1,260,766	*	PT Medco Energi Internasional Tbk		30
	1,791,500	*	PT Pelayaran Tamarin Samudra Tbk		20
	3,533,400		PT Tambang Batubara Bukit Asam Tbk		467
	5,909,806		PT United Tractors Tbk		6,086
	1,387,021		PTT Exploration & Production PCL (Foreign)		2,823
	10,248,350		PTT PCL (Foreign)		9,475
	616,228	*	Qatar Fuel QSC		2,750
	3,203,072		Qatar Gas Transport Co Ltd		1,847
	207,470		QEP Resources Inc		69
	556,825	*	Rabigh Refining & Petrochemical Co		1,581
	2,049,189	e	Range Resources Corp		4,672
	4,897,525		Reliance Industries Ltd		71,417
	163,334	*,e	Renewable Energy Group, Inc		3,353
	550,793		Repsol YPF S.A.		4,914
	5,648	*	Rex American Resources Corp		263
	5,266	*,e	RigNet, Inc		9
	52,510	*,e	Ring Energy, Inc		35
	5,776	*,e	Rosehill Resources, Inc		2
	1,726,485	*	Rosneft Oil Co PJSC (GDR)		7,025
	5,474,776		Royal Dutch Shell plc (A Shares)		95,117
	4,674,295		Royal Dutch Shell plc (B Shares)		78,407
	58,635	e	RPC, Inc		121
	1,112,614	*	Saipem S.p.A		2,682
	117,466		San-Ai Oil Co Ltd		1,218
	17,953	*	SandRidge Energy, Inc		16
	3,115,602		Santos Ltd		6,399
	1,530,000		Sapurakencana Petroleum BHD		28
	295,862		Saras S.p.A.		273
	505,402	*	Sasol Ltd		1,047
	181,165		SBM Offshore NV		2,395
	2,345,958		Schlumberger Ltd		31,647
	17,813		Schoeller-Bleckmann Oilfield Equipment AG.		577
	189,271		Scorpio Tankers, Inc		3,619
	16,373	*	SEACOR Holdings, Inc		441
	34,784	*,e	SEACOR Marine Holdings, Inc		152
	181,494		Secure Energy Services, Inc		120
	59,835	*	Select Energy Services, Inc		193

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	224,000		Semirara Mining & Power Corp	$	48
	3,769,499	*,e	Senex Energy Ltd		365
	487,000		Serba Dinamik Holdings BHD		169
	190,422	*	Serica Energy plc		186
	50	*,†	Serval Integrated Energy Services		0
	328,886	*	Seven Generations Energy Ltd		362
	76,958	e	SFL Corp Ltd		729
	540,555		Shaanxi Coal Industry Co Ltd		563
	1,304,200	*	Shandong Xinchao Energy Corp Ltd		321
	294,036		Shanxi Lu’an Environmental Energy Development Co Ltd		239
	236,300	*	Shanxi Meijin Energy Co Ltd		215
	334,000		Shanxi Xishan Coal & Electricity Power Co Ltd		226
	79,314	e	ShawCor Ltd		100
	28,100	*	Shell Refining Co Federation Of Malaya BHD		16
	204,400		Shinko Plantech Co Ltd		2,303
	156,500		Siamgas & Petrochemicals PCL		36
	16,100	*,e	SilverBow Resources, Inc		40
	3,000		Sinanen Co Ltd		73
	204,000		Sinopec Kantons Holdings Ltd		77
	88,237		SK Energy Co Ltd		6,243
	13,315		SK Gas Co Ltd		684
	213,477	e	SM Energy Co		260
	43,207	*,e	Smart Sand, Inc		45
	124,399		Soco International plc		19
	41,651		S-Oil Corp		1,935
	29,705		Solaris Oilfield Infrastructure, Inc		156
	918,340	*,e	Southwestern Energy Co		1,552
	342,200		Star Petroleum Refining PCL		46
	173,420	e	Stobart Group Ltd		103
	116,716	e	Subsea 7 S.A.		551
	1,391,406		Suncor Energy, Inc		22,206
	266,302	e	Surge Energy, Inc		41
	1,613,740		Surgutneftegaz (ADR) (London)		6,713
	125,074	*,e	Talos Energy, Inc		719
	256,869	*	Tamarack Valley Energy Ltd		89
	695,798		Targa Resources Investments, Inc		4,808
	337,719		Tatneft PJSC (ADR)		12,800
	1,120,258		TC Energy Corp		49,792
	5,122		TechnipFMC plc (Euro OTC)		35
	17,389	*	Tecnicas Reunidas S.A.		220
	71,860	*,e	Teekay Corp		227
	61,333	*	Teekay Tankers Ltd		1,364
	92,680	*,e	Tellurian, Inc		84
	45,705		Tenaris S.A.		276
	79,765	*	Tervita Corp		197
	105,221	*	Tetra Technologies, Inc		34
	221,704		TGS Nopec Geophysical Co ASA		2,462
	1,039,955		Thai Oil PCL (Foreign)		962
	38,204	*	Tidewater, Inc		270
	178,563	*	TMK PJSC (GDR)		372
	172,314		TORC Oil & Gas Ltd		77
	51,399	*	TORM plc		428
	49,180		Total Energy Services, Inc		65

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,479,402	e	Total S.A.	$	93,421
	370,284		Tourmaline Oil Corp		2,273
	737,313	*,e	Transocean Ltd (NYSE)		855
	16,200	e	Transportadora de Gas del Sur S.A. (ADR) (Class B)		75
	728,430	e	Tullow Oil plc		92
	406,000	*	Tupras Turkiye Petrol Rafine		4,620
	616,988		Ultrapar Participacoes S.A.		1,488
	669,862	*	UMW Oil & Gas Corp BHD		18
	36,618	*,e	Unit Corp		10
	202,253	*,e	Uranium Energy Corp		113
	91,280	e	US Silica Holdings, Inc		164
	20,457	*	US Well Services Inc		6
	1,180,967		Valero Energy Corp		53,569
	149,097	*,e	Vallourec S.A.		162
	72,315		Verbio AG.		651
	352,676	e	Vermilion Energy, Inc		1,083
	984,904	g	Viva Energy Group Ltd		757
	93,613	*,e	W&T Offshore, Inc		159
	172,681		Washington H Soul Pattinson & Co Ltd		1,784
	857	*	Weatherford International Ltd		5
	465,348		Whitecap Resources, Inc		387
	372,465	e	Whitehaven Coal Ltd		437
	1,962,487		Williams Cos, Inc		27,769
	272,000		Wison Engineering Services Co Ltd		27
	901,511		Woodside Petroleum Ltd		10,004
	261,359		World Fuel Services Corp		6,581
	324,725		Worley Ltd		1,205
	2,121,952	*	WPX Energy, Inc		6,472
	85,500		Yantai Jereh Oilfield Services Group Co Ltd		264
	5,582,166		Yanzhou Coal Mining Co Ltd		4,324
	205,600		Yanzhou Coal Mining Co Ltd (Class A)		248
	203,400		Yinson Holdings BHD		224
	179,600		YPF S.A. (ADR) (Class D)		749
	186,779		Z Energy Ltd		320
			TOTAL ENERGY		2,456,521
FOOD & STAPLES RETAILING - 1.6%
	9,276		Abdullah Al Othaim Markets Co		227
	512,517		Aeon Co Ltd		11,354
	20,283		Ain Pharmaciez Inc		1,192
	185,803	*	Al Meera Consumer Goods Co		735
	1,257,418		Alimentation Couche Tard, Inc		29,619
	171,138		Andersons, Inc		3,209
	64,244		Arcs Co Ltd		1,154
	341,800		Atacadao Distribuicao Comercio e Industria Ltd		1,357
	199,844	*,g	Avenue Supermarts Ltd		5,780
	315,658	*	Axfood AB		6,419
	30,055		Axial Retailing, Inc		1,102
	5,400		Belc Co Ltd		287
	888,100		Berli Jucker PCL		1,083
	6,570		BGF retail Co Ltd		712
	599,159	e	Bid Corp Ltd		7,062
	359,398		BIM Birlesik Magazalar AS		2,725

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,058,868		Carrefour S.A.	$	16,788
	54,839		Casey’s General Stores, Inc		7,266
	15,994		Casino Guichard Perrachon S.A.		612
	54,200		Cawachi Ltd		1,189
	2,514,503		Centros Comerciales Sudamericanos S.A.		2,615
	23,195	*	Chefs’ Warehouse Holdings, Inc		234
	1,425,361		Cia Brasileira de Distribuicao		18,198
	31,054		CJ Freshway Corp		393
	229,686		Clicks Group Ltd		3,311
	56,560		Cocokara Fine Holdings, Inc		2,931
	1,092,634		Coles Group Ltd		10,176
	55,534		Colruyt S.A.		3,010
	4,412,100		Cosco Capital, Inc		412
	9,764		Cosmos Pharmaceutical Corp		2,332
	1,322,814		Costco Wholesale Corp		377,174
	8,328,429		CP Seven Eleven PCL (Foreign)		15,400
	13,900		Create SD Holdings Co Ltd		348
	13,500		Daikokutenbussaan Co Ltd		381
	474,000		Dairy Farm International Holdings Ltd		2,180
	111,733	*,g	Dino Polska S.A.		4,346
	96,029	e,g	Dis-Chem Pharmacies Ltd		142
	10,229,180	*,e	Distribuidora Internacional de Alimentacion S.A.		1,170
	6,247		Dongsuh Co, Inc		81
	14,893		E-Mart Co Ltd		1,292
	227,008		Empire Co Ltd		4,441
	311,645		Eurocash S.A.		1,275
	263,990		FamilyMart Co Ltd		4,740
	5,500		G-7 Holdings, Inc		117
	4,200		Genky DrugStores Co Ltd		80
	90,949		George Weston Ltd		6,503
	80,492	*	Grocery Outlet Holding Corp		2,764
	70,700	e	Grupo Comercial Chedraui S.a. DE C.V.		75
	17,721		GS Retail Co Ltd		449
	4,100		Halows Co Ltd		103
	96,058		Heiwado Co Ltd		1,691
	21,317	*,e	HF Foods Group Inc		179
	9,966		Hyundai Greenfood Co Ltd		54
	116,218	e	ICA Gruppen AB		4,854
	14,126		Ingles Markets, Inc (Class A)		511
	2,800		Itochu-Shokuhin Co Ltd		113
	855,050		J Sainsbury plc		2,212
	5,600		Japan Meat Co Ltd		114
	634,140		Jeronimo Martins SGPS S.A.		11,446
	7,500		Kansai Super Market Ltd		71
	57,300		Kato Sangyo Co Ltd		1,802
	218,484		Kesko Oyj (B Shares)		12,355
	55,968	e	Kobe Bussan Co Ltd		2,200
	1,146,823		Koninklijke Ahold Delhaize NV		26,717
	1,329,282		Kroger Co		40,038
	8,234		Kusuri no Aoki Holdings Co Ltd		686
	133,100	*,e	La Comer SAB de C.V.		129
	10,900		Laobaixing Pharmacy Chain JSC		119
	112,051		Lawson, Inc		6,150
	48,000		Life Corp		1,320

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	184,474		Loblaw Cos Ltd	$	9,510
	459,941	*	Magnit PJSC (GDR)		4,122
	17,255		MARR S.p.A.		245
	391,898	*,e	Massmart Holdings Ltd		596
	98,247		Matsumotokiyoshi Holdings Co Ltd		3,581
	2,086,350		Metcash Ltd		4,045
	88,871		Metro Wholesale & Food Specialist AG.		757
	273,014		Metro, Inc		11,040
	541,457	*	Migros Ticaret AS		1,849
	6,500		Ministop Co Ltd		88
	142,933	e	Natural Grocers by Vitamin C		1,216
	6,000		Nihon Chouzai Co Ltd		92
	2,300		Nishimoto Co Ltd		43
	55,952	e	North West Co, Inc		891
	59,300		Okuwa Co Ltd		950
	394,605	*	Performance Food Group Co		9,755
	339,495		Pick’n Pay Stores Ltd		1,150
	1,352,722		President Chain Store Corp		12,646
	38,928		Pricesmart, Inc		2,046
	12,200		Qol Co Ltd		149
	289,302		Raia Drogasil S.A.		5,671
	3,576		Rami Levi Chain Stores Hashikma Marketing Ltd		197
	11,512	e	Retail Partners Co Ltd		68
	124,038	*,e	Rite Aid Corp		1,861
	469,600		Robinsons Retail Holdings, Inc		527
	7,579		Ryoshoku Ltd		194
	8,400		San-A Co Ltd		349
	840,508		Seven & I Holdings Co Ltd		27,758
	672,900		Sheng Siong Group Ltd		562
	5,411		Shoei Foods Corp		197
	407,031		Shoprite Holdings Ltd		2,845
	92,628	*	Shufersal Ltd		524
	518,113		SMU S.A.		78
	30,636	*	Sok Marketler Ticaret AS.		43
	2,865,244		Sonae SPGS S.A.		1,857
	153,991		Spar Group Ltd		1,565
	141,120		SpartanNash Co		2,021
	190,259	*	Sprouts Farmers Market, Inc		3,537
	66,438		Sugi Pharmacy Co Ltd		3,558
	1,626,628		Sun Art Retail Group Ltd		2,393
	149,764		Sundrug Co Ltd		4,799
	91,452		SYSCO Corp		4,173
	154,000		Taiwan TEA Corp		64
	21,989,030		Tesco plc		62,098
	41,567		Tsuruha Holdings, Inc		5,481
	52,617	*	United Natural Foods, Inc		483
	27,350		United Super Markets Holdings, Inc		243
	486,266	*	US Foods Holding Corp		8,612
	46,578		Valor Co Ltd		827
	8,483		Village Super Market (Class A)		209
	1,192,604		Walgreens Boots Alliance, Inc		54,562
	8,542,650		Wal-Mart de Mexico SAB de C.V.		20,076
	3,938,151		Walmart, Inc		447,453

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,542		Weis Markets, Inc	$	398
	43,580		Welcia Holdings Co Ltd		3,060
	1,450,058		WM Morrison Supermarkets plc		3,168
	1,517,997		Woolworths Ltd		33,011
	106,403	*	X5 Retail Group NV (GDR)		2,873
	5,100		YAKUODO Holdings Co Ltd		114
	9,300		Yaoko Co Ltd		575
	18,500		Yifeng Pharmacy Chain Co Ltd		242
	75,000		Yokohama Reito Co Ltd		641
	4,131,040		Yonghui Superstores Co Ltd		5,925
	3,624	*,e	Zur Rose Group AG.		456
			TOTAL FOOD & STAPLES RETAILING		1,459,425
FOOD, BEVERAGE & TOBACCO - 4.3%
	106,067	*,e	22nd Century Group, Inc		80
	794,095	*	a2 Milk Co Ltd		8,112
	145,664		AAK AB		2,355
	27,400	*	Adecoagro S.A.		107
	52,888	e	AG. Barr plc		316
	6,486		Agrana Beteiligungs AG.		116
	892,172		Ajinomoto Co, Inc		16,625
	5,098		Alico, Inc		158
	216,028		Almarai Co JSC		2,690
	3,140,703		Altria Group, Inc		121,451
	6,012,074		AMBEV S.A.		13,792
	932,336		Anadolu Efes Biracilik Ve Malt Sanayii AS		2,416
	32,400	*	Angel Yeast Co Ltd		160
	767,376		Anheuser-Busch InBev S.A.		33,895
	13,300		Anhui Gujing Distillery Co Ltd		213
	204,094		Anhui Kouzi Distillery Co Ltd		1,179
	323,407		Archer-Daniels-Midland Co		11,377
	9,372		Ariake Japan Co Ltd		591
	1,141,030	*	Aryzta AG.		403
	294,829		Asahi Breweries Ltd		9,565
	1,016,495		Associated British Foods plc		22,769
	192,078		Astral Foods Ltd		2,062
	1,140,528		Ausnutria Dairy Corp Ltd		1,792
	189,901		Austevoll Seafood ASA		1,351
	626,235	*,e	Australian Agricultural Co Ltd		421
	55,635		Avanti Feeds Ltd		216
	77,336		AVI Ltd		303
	145,417	e	B&G Foods, Inc (Class A)		2,631
	36,972	e	Bakkafrost P		1,752
	74,720	e,g	Bakkavor Group plc		99
	174,459		Balrampur Chini Mills Ltd		238
	4,428		Barry Callebaut AG.		8,863
	551,675	e	Bega Cheese Ltd		1,550
	129,600		Beijing Dabeinong Technology Group Co Ltd		157
	31,200		Beijing Shunxin Agriculture Co Ltd		268
	123,900		Beijing Yanjing Brewery Co Ltd		105
	3,141		Bell AG.		819
	18,106	*,e	Beyond Meat, Inc		1,206
	1,264		Binggrae Co Ltd		50
	116,814		Biostime International Holdings Ltd		428

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,594		Bonduelle S.C.A.	$	159
	18,772	*,e	Boston Beer Co, Inc (Class A)		6,900
	498,986	*	BRF S.A.		1,449
	1,730	*	Bridgford Foods Corp		40
	38,771		Britannia Industries Ltd		1,371
	30,100		British American Tobacco Malaysia BHD		71
	3,240,069		British American Tobacco plc		110,374
	516,183		Britvic plc		4,474
	62,368		Brown-Forman Corp (Class A)		3,204
	33,479		Brown-Forman Corp (Class B)		1,858
	1,105,200	*,e	Bubs Australia Ltd		395
	1,367,600	*,g	Budweiser Brewing Co APAC Ltd		3,517
	185,100	e	Bumitama Agri Ltd		51
	70,266		Bunge Ltd		2,883
	640,597		C&C Group plc		1,560
	22,706		Calavo Growers, Inc		1,310
	116,504		Calbee, Inc		3,144
	51,329		Cal-Maine Foods, Inc		2,257
	25,000		Camil Alimentos S.A.		37
	380,090		Campbell Soup Co		17,545
	231,811		Carlsberg AS (Class B)		26,097
	245,800		Carlsberg Brewery-Malay BHD		1,412
	11,421		CCL Products India Ltd		27
	43,847	*,e	Celsius Holdings, Inc		185
	719,000		Charoen Pokphand Enterprise		1,399
	2,398,446		Charoen Pokphand Foods PCL		1,766
	4,375,889	*,†,e	China Huishan Dairy Holdings Co Ltd		6
	370,000	*,†	China Huiyuan Juice Group Ltd		0	^
	2,362,146		China Mengniu Dairy Co Ltd		8,146
	573,000	*	China Modern Dairy Holdings		53
	1,879,629		China Resources Beer Holdings Company Ltd		8,520
	20,800		Chongqing Brewery Co Ltd		133
	44,300	*	Chongqing Fuling Zhacai Group Co Ltd		195
	55,861		Chubu Shiryo Co Ltd		745
	450,390		Cia Cervecerias Unidas S.A.		3,082
	5,632		CJ CheilJedang Corp		995
	213,578		Cloetta AB		504
	684,527		Coca-Cola Amatil Ltd		3,695
	11,745,731		Coca-Cola Co		519,749
	5,548		Coca-Cola Consolidated Inc		1,157
	244,680		Coca-Cola European Partners plc (Class A)		9,183
	538,927		Coca-Cola Femsa SAB de C.V.		2,173
	241,318		Coca-Cola HBC AG.		5,175
	16,109		Coca-Cola Icecek AS		85
	87,950		Coca-Cola West Japan Co Ltd		1,805
	8,632,000		Cofco International Ltd		3,150
	314,000	*,e	COFCO Meat Holdings Ltd		85
	1,353,778		ConAgra Brands, Inc		39,720
	270,772		Constellation Brands, Inc (Class A)		38,818
	13,725		Corby Spirit and Wine Ltd		151
	186,974	e	Costa Group Holdings Ltd		317
	10,606	*,e	Craft Brewers Alliance, Inc		158
	37,378		Cranswick plc		1,711

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	125,549		Daesang Corp	$	1,736
	1,294,500	g	Dali Foods Group Co Ltd		898
	725,068		Danone		46,403
	443,780	*	Darling International, Inc		8,507
	3,564,876		Davide Campari-Milano S.p.A		25,565
	3,617,830		Diageo plc		114,720
	225		Dongwon F&B Co Ltd		31
	286		Dongwon Industries Co Ltd		40
	4,700		Dydo Drinco, Inc		159
	852,896		Eastern Tobacco		666
	179,456		Easy Bio, Inc		524
	35,908		Ebro Puleva S.A.		737
	291,897		Embotelladora Andina S.A.		649
	370,001		Embotelladoras Arca SAB de C.V.		1,491
	3,317		Emmi AG.		3,017
	41,154		Ezaki Glico Co Ltd		1,723
	9,071	*	Farmer Bros Co		63
	52,936		Feed One Co Ltd		74
	4,873,700	*	Felda Global Ventures Holdings BHD		964
	726,468		Fevertree Drinks plc		10,834
	286,800		First Resources Ltd		243
	23,580		Flowers Foods, Inc		484
	1,989,463		Fomento Economico Mexicano S.A. de C.V.		12,011
	96,300		Fomento Economico Mexicano SAB de C.V. (ADR)		5,827
	18,889		ForFarmers NV		117
	94,400		Foshan Haitian Flavouring & Food Co Ltd		1,657
	317,800		Fraser & Neave Holdings BHD		2,287
	259,548	e	Freedom Foods Group Ltd		696
	49,549		Fresh Del Monte Produce, Inc		1,368
	200,001	*	Freshpet, Inc		12,774
	105,080		Fuji Oil Co Ltd		2,529
	39,200	*	Fujian Sunner Development Co Ltd		129
	20,832		Fujicco Co Ltd		375
	5,482		Fujiya Co Ltd		105
	735,809	*	Future Consumer Ltd		71
	399,551		Futuris Corp Ltd		1,847
	113,573		General Mills, Inc		5,993
	160,974		Genting Plantations BHD		353
	104,500		GFPT PCL (Foreign)		27
	222,431		Glanbia plc		2,421
	21,887		Godfrey Phillips India Ltd		269
	12,569,700	e	Golden Agri-Resources Ltd		1,244
	112,834	*	GrainCorp Ltd-A		218
	2,429,342		Great Wall Enterprise Co		2,966
	508,646		Greencore Group plc		1,039
	26,088		Grieg Seafood ASA		241
	189,720		Gruma SAB de C.V.		1,453
	1,404,516	e	Grupo Bimbo S.A. de C.V. (Series A)		2,041
	45,595	e	Grupo Herdez SAB de C.V.		58
	46,600		Guangdong Haid Group Co Ltd		262
	10,978	*	Hain Celestial Group, Inc		285
	53,000	*	Heilongjiang Agriculture Co Ltd		128
	111,828		Heineken Holding NV		8,715
	264,942		Heineken NV		22,484

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	109,200		Henan Shuanghui Investment & Development Co Ltd	$	600
	187,464		Hershey Co		24,839
	10,400		Hokuto Corp		182
	39,435		Hormel Foods Corp		1,839
	258,456	*	Hostess Brands, Inc		2,755
	71,430	e	Hotel Chocolat Group Ltd		245
	31,362		House Foods Corp		1,021
	1,035,188		Imperial Tobacco Group plc		19,105
	8,370,530		Indofood CBP Sukses Makmur Tbk		5,221
	154,290	e	Inghams Group Ltd		309
	70,316		Ingredion, Inc		5,309
	366,100		Inner Mongolia Yili Industrial Group Co Ltd		1,530
	1,210,597		IOI Corp BHD		1,116
	4,743,025		ITC Ltd		10,695
	27,773		Ito En Ltd		1,467
	312,900		Itoham Yonekyu Holdings, Inc		1,841
	27,805		J&J Snack Foods Corp		3,364
	13,046		J.M. Smucker Co		1,448
	1,400,319		Japan Tobacco, Inc		25,901
	215,869	e	Japfa Ltd		62
	1,008,697		JBS S.A.		3,949
	7,001		Jeil Holdings Co Ltd		29
	45,100		Jiangsu King’s Luck Brewery JSC Ltd		177
	58,200		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		683
	96,700		Jiangxi Zhengbang Technology Co Ltd		258
	92,773		Jinro Ltd		2,025
	36,499		John B. Sanfilippo & Son, Inc		3,263
	24,973		J-Oil Mills, Inc		1,055
	31,100	*	Jonjee Hi-Tech Industrial And Commercial Holding Co Ltd		208
	18,700		Juewei Food Co Ltd		136
	86,561		Juhayna Food Industries		33
	36,746		Kagome Co Ltd		953
	6,400		Kameda Seika Co Ltd		293
	4,878		Kaveri Seed Co Ltd		22
	37,610		Kellogg Co		2,256
	5,600		Kenko Mayonnaise Co Ltd		105
	212,445		Kerry Group plc (Class A)		24,649
	4,886,230	e	Keurig Dr Pepper, Inc		118,589
	9,500		KEY Coffee, Inc		202
	325,860		Khon Kaen Sugar Industry PCL		14
	151,280	e	Kikkoman Corp		6,414
	761,825		Kirin Brewery Co Ltd		15,046
	69,080		Kotobuki Spirits Co Ltd		3,103
	945,858		Kraft Heinz Co		23,401
	55,282		KRBL Ltd		97
	75,396		KT&G Corp		4,616
	1,177,165		Kuala Lumpur Kepong BHD		5,708
	99,653		Kweichow Moutai Co Ltd		15,487
	17,677		KWS Saat AG.		907
	5,024		La Doria S.p.A		48
	81,117		Lamb Weston Holdings, Inc		4,632
	22,427		Lancaster Colony Corp		3,244

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,501	*	Landec Corp	$	222
	3,603		Lassonde Industries, Inc		382
	251,200		Leong Hup International BHD		33
	200,402		Leroy Seafood Group ASA		981
	64,296		Libstar Holdings Ltd		24
	227,629		Lien Hwa Industrial Corp		280
	16,417		Limoneira Co		215
	1,670		Lindt & Spruengli AG.		14,017
	111		Lindt & Spruengli AG. (Registered)		9,634
	754		Lotte Chilsung Beverage Co Ltd		53
	309		Lotte Confectionery Co Ltd		27
	3,074		Lotte Samkang Co Ltd		758
	58,500		Luzhou Laojiao Co Ltd		602
	17,900		M Dias Branco S.A.		100
	28,347		Maeil Dairies Co Ltd		1,593
	92,153		Maple Leaf Foods, Inc		1,671
	561,600	*	Marfrig Global Foods S.A.		957
	32,100		Marudai Food Co Ltd		579
	20,500		Maruha Nichiro Corp		428
	18,249		McCormick & Co, Inc		2,577
	116,969		Megmilk Snow Brand Co Ltd		2,657
	145,947		MEIJI Holdings Co Ltd		10,343
	32,250	e	MGP Ingredients, Inc		867
	55,761	*	Minerva S.A.		85
	8,200		Mitsui Sugar Co Ltd		158
	21,132		Molson Coors Brewing Co (Class B)		824
	6,300,758		Mondelez International, Inc		315,542
	3,759,036	*	Monster Beverage Corp		211,483
	32,579		Morinaga & Co Ltd		1,334
	122,574		Morinaga Milk Industry Co Ltd		4,728
	367,668		Mowi ASA		5,559
	2,165	*	Muhak Co Ltd		9
	101,780		Muyuan Foodstuff Co Ltd		1,737
	20,545		Nagatanien Co Ltd		423
	33,000		Namchow Chemical Industrial Ltd		44
	52		Namyang Dairy Products Co Ltd		13
	8,804	*	National Agriculture Development Co		51
	11,856	*,e	National Beverage Corp		506
	10,932	*	Naturecell Co Ltd		79
	37,295		Nestle India Ltd		8,064
	48,300		Nestle Malaysia BHD		1,528
	4,040,690		Nestle S.A.		413,636
	73,354	*,e	New Age Beverages Corp		102
	190,100		New Hope Liuhe Co Ltd		832
	90,492		Nichirei Corp		2,548
	4,997		Nippon Beet Sugar Manufacturing Co Ltd		80
	108,900		Nippon Flour Mills Co Ltd		1,701
	73,060		Nippon Meat Packers, Inc		2,543
	314,759		Nippon Suisan Kaisha Ltd		1,385
	89,722		Nisshin Oillio Group Ltd		3,020
	431,747		Nisshin Seifun Group, Inc		7,203
	137,533		Nissin Food Products Co Ltd		11,413
	173,435		Nissin Foods Co Ltd		142
	829		Nong Shim Co Ltd		196

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	292		Nong Shim Holdings Co Ltd	$	17
	6,770		Norway Royal Salmon ASA		136
	167,046		Oceana Group Ltd		514
	65,106		Origin Enterprises plc		147
	4,519		Orion Corp		45
	19,418		Orion Corp/Republic of Korea		1,835
	15,953		Orior AG.		1,299
	662,476		Orkla ASA		5,676
	723,500	*	Osotspa PCL		786
	883		Ottogi Corp		344
	3,333,608		PepsiCo, Inc		400,366
	190,351		Pernod-Ricard S.A.		27,018
	84		Philip Morris CR		45
	4,074,100		Philip Morris International, Inc		297,246
	6,564	*,b	Pilgrim’s Pride Corp		119
	9,206	*	Post Holdings, Inc		764
	390,049		PPB Group BHD		1,479
	358,620	*	Premier Foods plc		108
	36,219	e	Premium Brands Holdings Corp		1,863
	166,900		Prima Meat Packers Ltd		3,778
	164,104		Primo Water Corp		1,489
	12,901,518		PT Charoen Pokphand Indonesia Tbk		3,882
	404,111		PT Gudang Garam Tbk		1,015
	9,555,500		PT Hanjaya Mandala Sampoerna Tbk		828
	2,862,491		PT Indofood Sukses Makmur Tbk		1,107
	9,135,000	*,†	PT Inti Agri Resources Tbk		28
	13,316,400		PT Japfa Comfeed Indonesia Tbk		769
	707,500		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		36
	598,700		PT Sawit Sumbermas Sarana Tbk		34
	487,600		PT Tunas Baru Lampung Tbk		14
	2,697		Pulmuone Co Ltd		20
	54,497		Q.P. Corp		1,091
	1,149,000		QL Resources BHD		1,968
	10,521		Radico Khaitan Ltd		37
	20,787	e	Remy Cointreau S.A.		2,266
	30,374		Rhodes Food Group Pty Ltd		24
	10,400		Riken Vitamin Co Ltd		211
	9,425		Rock Field Co Ltd		128
	192,875	e	Rogers Sugar, Inc		602
	5,600		Rokko Butter Co Ltd		71
	1,606		Ros Agro plc (ADR)		11
	139,062		Royal Unibrew A.S.		9,996
	9,415		S Foods, Inc		194
	409,620		Saigon Beer Alcohol Beverage Corp		2,124
	14,755		Sakata Seed Corp		448
	70,408	e	Salmar ASA		2,329
	432		Samlip General Foods Co Ltd		21
	834		Samyang Corp		21
	842		Samyang Foods Co Ltd		64
	8,818		Samyang Holdings Corp		297
	19,683		Sanderson Farms, Inc		2,427

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	199,600		Sao Martinho S.A.	$	568
	32,686		Sapporo Holdings Ltd		601
	243,609		Saputo, Inc		5,858
	4,996		Saudia Dairy & Foodstuff Co		181
	543,181	*	Savola Group		5,153
	105,533		Scandi Standard AB		637
	213,834	g	Scandinavian Tobacco Group A.S.		2,147
	6,610		Schouw & Co		438
	697		Seaboard Corp		1,961
	326,666		Select Harvests Ltd		1,398
	6,125	*	Seneca Foods Corp		244
	31,137		Shanxi Xinghuacun Fen Wine Factory Co Ltd		394
	36,687		Showa Sangyo Co Ltd		1,092
	16,900		Sichuan Swellfun Co Ltd		102
	1,416,013		Sime Darby Plantation BHD		1,619
	380,145	*	Simply Good Foods Co		7,322
	20,200		SLC Agricola S.A.		88
	1,225,194		Standard Foods Corp		2,472
	3,400		Starzen Co Ltd		140
	97,529	*	Strauss Group Ltd		2,562
	196,791		Suedzucker AG.		2,812
	173,023		Suntory Beverage & Food Ltd		6,538
	317,768	e	Swedish Match AB		17,992
	56,819	*	Synlait Milk Ltd		208
	149,903	e	Takara Holdings, Inc		1,120
	97,800		Taokaenoi Food & Marketing PCL		16
	107,827		Tassal Group Ltd		233
	62,543		Tata Tea Ltd		243
	742,566		Tate & Lyle plc		6,041
	53,100	*	Tech-Bank Food Co Ltd		87
	2,109,409		Thai Union Group PCL		876
	1,210,700		Thai Vegetable Oil PCL (Foreign)		826
	147,702		Tiger Brands Ltd		1,530
	6,264,290		Tingyi Cayman Islands Holding Corp		10,185
	26,500		Toly Bread Co Ltd		184
	52,309	*	Tongaat Hulett Ltd		6
	126,200		Tongwei Co Ltd		205
	16,633	e	Tootsie Roll Industries, Inc		598
	106,517		Toyo Suisan Kaisha Ltd		5,148
	599,794		Treasury Wine Estates Ltd		3,724
	6,644	*	TreeHouse Foods, Inc		293
	379,879		Tsingtao Brewery Co Ltd		1,920
	32,300		Tsingtao Brewery Co Ltd (Class A)		207
	87,000		Ttet Union Corp		313
	7,883	e	Turning Point Brands, Inc		166
	654,926		Tyson Foods, Inc (Class A)		37,901
	32,845	*	Ulker Biskuvi Sanayi AS		98
	795,000		Uni-President China Holdings Ltd		768
	4,224,053		Uni-President Enterprises Corp		9,143
	333,723	*	United Spirits Ltd		2,139
	24,460		Universal Corp		1,081
	545,094		Universal Robina		1,115
	74,664		Varun Beverages Ltd		522
	111,875		Vector Group Ltd		1,054

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	860		Venky’s India Ltd	$	10
	47,633	*,e	Village Farms International, Inc		137
	3,524		Vilmorin & Cie		140
	117,973		Vina Concha y Toro S.A.		148
	63,207		Viscofan S.A.		3,461
	616,000		Vitasoy International Holdings Ltd		1,854
	3,474,714		Want Want China Holdings Ltd		2,506
	61,432		Warabeya Nichiyo Co Ltd		995
	1,350,000		Wei Chuan Food Corp		887
	271,400		Wens Foodstuffs Group Co Ltd		1,227
	14,101,000	g	WH Group Ltd		13,015
	4,857,780		Wilmar International Ltd		10,985
	666,085		Wuliangye Yibin Co Ltd		10,715
	235,471		Yakult Honsha Co Ltd		13,872
	184,867		Yamazaki Baking Co Ltd		3,853
	1,266,000		Yihai International Holding Ltd		9,536
	48,400		Yuan Longping High-tech Agriculture Co Ltd		123
	139,000	g	Zhou Hei Ya International Holdings Co Ltd		80
			TOTAL FOOD, BEVERAGE & TOBACCO		3,824,564
HEALTH CARE EQUIPMENT & SERVICES - 5.4%
	19,033	*	1Life Healthcare, Inc		345
	3,603,566	n	Abbott Laboratories		284,357
	8,899	*	Abiomed, Inc		1,292
	129,938	*,e	Acadia Healthcare Co, Inc		2,384
	158,028	*	Accuray, Inc		300
	15,985	*	Addus HomeCare Corp		1,081
	429,768	e	Advanced Medical Solutions Group plc		1,340
	357,194	*	AGFA-Gevaert NV		1,328
	376,633		Aier Eye Hospital Group Co Ltd		2,067
	64,000	g	AK Medical Holdings Ltd		138
	12,022	*	Al Hammadi Co for Development and Investment		60
	995,300	*	Alcon, Inc		50,990
	503,724	*,e	Alcon, Inc (XNYS)		25,599
	132,390		Alfresa Holdings Corp		2,464
	3,148,659	*	Alibaba Health Information Technology Ltd		5,174
	189,586	*	Align Technology, Inc		32,978
	10,700		Alliar Medicos A Frente S.A.		19
	157,768	*	Allscripts Healthcare Solutions, Inc		1,111
	35,023	*	Alphatec Holdings Inc		121
	24,912	*,g	Ambea AB		108
	204,577	e	Ambu A.S.		4,927
	81,988	*	Amedisys, Inc		15,048
	16,982	*	American Renal Associates Holdings, Inc		112
	232,277		AmerisourceBergen Corp		20,557
	54,662	*	AMN Healthcare Services, Inc		3,160
	210,037		Amplifon S.p.A.		4,267
	65,212	*	Angiodynamics, Inc		680
	387,538		Ansell Ltd		6,418
	155,013	*	Antares Pharma, Inc		366
	718,609		Anthem, Inc		163,153
	95,594		Apollo Hospitals Enterprise Ltd		1,433
	9,565	*,e	Apollo Medical Holdings, Inc		124

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,726	*	Apyx Medical Corp	$	121
	643,633		Arjo AB		3,181
	21,807	e	As One Corp		1,926
	73,440		Asahi Intecc Co Ltd		1,816
	17,526		Ascom Holding AG.		97
	193,248	*	AtriCure, Inc		6,491
	1,440		Atrion Corp		936
	128,437	g	Attendo AB		526
	208,296		Australian Pharmaceutical Industries Ltd		160
	19,700		Autobio Diagnostics Co Ltd		321
	22,465	*,e	Avalon GloboCare Corp		35
	46,604	*	Avanos Medical, Inc		1,255
	32,603	*	AxoGen, Inc		339
	18,362	*,e	Axonics Modulation Technologies, Inc		467
	257,450		Bangkok Chain Hospital PCL		89
	7,273,045		Bangkok Dusit Medical Services PCL (Foreign)		4,165
	3,808,627		Baxter International, Inc		309,222
	280,926		Becton Dickinson & Co		64,548
	6,000	*	Beijing Chunlizhengda Medical Instruments Co Ltd		75
	20,888	*,e,g	Biocartis NV		78
	6,774	*,e	BioLife Solutions Inc		64
	30,051		BioMerieux		3,402
	15,892	*,e	BioSig Technologies Inc		67
	33,110	*	BioTelemetry, Inc		1,275
	63,000		BML, Inc		1,692
	8,744,254	*	Boston Scientific Corp		285,325
	719,676	*	Brookdale Senior Living, Inc		2,245
	288,065		Bumrungrad Hospital PCL (Foreign)		997
	4,421	e	Cantel Medical Corp		159
	447,836		Cardinal Health, Inc		21,469
	49,914	*	Cardiovascular Systems, Inc		1,757
	20,515		Carl Zeiss Meditec AG.		1,953
	309,084	*	Castlight Health, Inc		224
	7,244	*,e	Catasys Inc		110
	17,984		Cellavision AB		442
	64,666	*	Celltrion Healthcare Co Ltd		4,718
	1,333,952	*	Centene Corp		79,250
	544,894		Cerner Corp		34,323
	233,081	*,e	Cerus Corp		1,084
	8,288	*	CHA Bio & Diostech Co Ltd		103
	345,681	*	Change Healthcare, Inc		3,453
	23,744		Chemed Corp		10,286
	23,173		China National Accord Medicines Corp Ltd		130
	35,200	*	China National Medicines Corp Ltd		140
	193,500		China Resources Phoenix Healthcare Holdings Co Ltd		103
	904,900		Chularat Hospital PCL		58
	1,410,045	n	Cigna Corp		249,832
	253,662	*	Cleopatra Hospital		74
	1,496,000	e	C-Mer Eye Care Holdings Ltd		838
	33,300		Cochlear Ltd		3,795
	126,230		Coloplast AS		18,307
	2,524	e	Coltene Holding AG.		161
	12,420		CompuGroup Medical AG.		753
	11,062		Computer Programs & Systems, Inc		246

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	260,284	*,e	ConforMIS, Inc	$	164
	54,153		Conmed Corp		3,101
	2,139,327	g	ConvaTec Group plc		4,919
	55,449		Cooper Cos, Inc		15,286
	15,359	*	Corvel Corp		837
	143,775	*,e	Covetrus, Inc		1,170
	124,333	e	Craneware plc		2,957
	74,616	*	Cross Country Healthcare, Inc		503
	34,664	*	CryoLife, Inc		587
	31,890	*,e	CryoPort, Inc		544
	17,055	*,e	Cutera, Inc		223
	136,401		CVS Group plc		1,398
	3,783,028		CVS Health Corp		224,447
	111,031	*,e	CYBERDYNE, Inc		410
	30,090	*,e	CytoSorbents Corp		233
	6,434		Dallah Healthcare Co		78
	1,704,831	n	Danaher Corp		235,966
	158,298	*	DaVita, Inc		12,040
	1,399	*	Dentium Co Ltd		39
	560,356		Dentsply Sirona, Inc		21,759
	477,136	*	DexCom, Inc		128,478
	34,139		DiaSorin S.p.A.		4,500
	2,385	*	DIO Corp		49
	23,248	g	Dr Lal PathLabs Ltd		428
	15,708		Draegerwerk AG.		1,511
	7,981		Draegerwerk AG. & Co KGaA		586
	26,657		Eckert & Ziegler Strahlen- und Medizintechnik AG.		4,140
	593,016	*	Edwards Lifesciences Corp		111,855
	103,600		Eiken Chemical Co Ltd		1,891
	5,511		El.En. S.p.A		96
	102,269	e	Elan Corp		1,362
	13,637	*,e	ElectroCore LLC		13
	417,134	e	Elekta AB (B Shares)		3,401
	17,300		EM Systems Co Ltd		144
	26,262		EMIS Group plc		337
	264,213		Encompass Health Corp		16,918
	160,316		Ensign Group, Inc		6,030
	1,863,246	*	Envista Holdings Corp		27,837
	45,852	*	Enzo Biochem, Inc		116
	114,925		Estia Health Ltd		94
	132,170	*,e	Evolent Health, Inc		718
	9,566	*	Exagen, Inc		152
	171,486	e	Extendicare, Inc		704
	123,738	e	Fagron NV		2,426
	970,796		Fisher & Paykel Healthcare Corp		17,648
	273,400		Fleury S.A.		1,065
	438,955	*	Fortis Healthcare Ltd		724
	317,011		Fresenius Medical Care AG.		20,693
	223,401		Fresenius SE		8,318
	156,255	g	Galenica AG.		10,662
	3,238,000	g	Genertec Universal Medical Group Company Limited		2,004
	372,499	*,e	Genesis Health Care, Inc		314
	282,326	*	GenMark Diagnostics, Inc		1,163

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	584,675		Getinge AB (B Shares)	$	11,056
	10,000		Ginko International Co Ltd		45
	39,293	*	Glaukos Corp		1,213
	168,565	*	Globus Medical, Inc		7,169
	188,243		GN Store Nord		8,346
	141,576		Green Hospital Supply, Inc		5,779
	25,100		Guangzhou Kingmed Diagnostics Group Co Ltd		197
	581,969	*,n	Guardant Health, Inc		40,505
	2,959		Guerbet		92
	140,411	*	Haemonetics Corp		13,993
	201,632	*	Hanger Inc		3,141
	193,000	g	Hapvida Participacoes e Investimentos S.A.		1,575
	3,813,200		Hartalega Holdings BHD		6,058
	1,107,679		HCA Healthcare, Inc		99,525
	453,153		Healius Ltd		570
	18,455	*	Health Catalyst, Inc		483
	192,455	*	HealthEquity, Inc		9,736
	113,683	*	HealthStream, Inc		2,723
	229,971	*	Henry Schein, Inc		11,618
	6,569	*,e	Heska Corp		363
	51,283		Hill-Rom Holdings, Inc		5,159
	8,376	*,e	HLB Life Science CO Ltd		138
	343,127	*	HMS Holdings Corp		8,671
	11,900		Hogy Medical Co Ltd		372
	1,502,650	*	Hologic, Inc		52,743
	207,989	*	Hoya Corp		17,686
	82,800		Huadong Medicine Co Ltd		202
	15,689	e	Humana AB		61
	463,094		Humana, Inc		145,421
	1,090		Huons Global Co Ltd		23
	2,436	*	ICU Medical, Inc		492
	224,417	*	IDEXX Laboratories, Inc		54,363
	1,510,542		IHH Healthcare BHD		1,794
	1,978		InBody Co Ltd		25
	18,481	*	Inogen, Inc		955
	230,440	*	Inovalon Holdings, Inc		3,839
	20,595	*	Inspire Medical Systems, Inc		1,241
	10,900		Instituto Hermes Pardini S.A.		40
	106,197	*	Insulet Corp		17,595
	164,758	*	Integer Holding Corp		10,357
	34,651	*	Integra LifeSciences Holdings Corp		1,548
	8,527	*,e	IntriCon Corp		100
	126,607	*	Intuitive Surgical, Inc		62,697
	31,007		Invacare Corp		230
	10,951	*,e	Ion Beam Applications		95
	9,249	*,e	iRadimed Corp		197
	25,986	*	iRhythm Technologies, Inc		2,114
	77,000	*	IVD Medical Holding Ltd		30
	25,800		Jafron Biomedical Co Ltd		342
	48,500	e	Japan Lifeline Co Ltd		608
	7,700		Japan Medical Dynamic Marketing, Inc		116
	49,028		Jeol Ltd		1,185
	68,000		Jiangsu Yuyue Medical Equipment & Supply Co Ltd		348
	70,176	*,e	Joint Corp		761

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	142,300		Jointown Pharmaceutical Group Co Ltd	$	339
	1,141,119		Koninklijke Philips Electronics NV		46,851
	61,620		Korian-Medica		1,901
	863,500		Kossan Rubber Industries		1,021
	4,484,692		KPJ Healthcare BHD		962
	166,835	*	Laboratory Corp of America Holdings		21,086
	163,185	*,e	Lantheus Holdings, Inc		2,082
	2,579		Le Noble Age		108
	16,367		LeMaitre Vascular, Inc		408
	97,200		Lepu Medical Technology Beijing Co Ltd		490
	38,259	*	LHC Group, Inc		5,364
	3,121,649		Life Healthcare Group Holdings Pte Ltd		3,222
	498,000	*	Lifetech Scientific Corp		113
	47,501	*	LivaNova plc		2,149
	78,948	*,e	Livongo Health, Inc		2,252
	464,838	e	M3, Inc		13,711
	100,955	*	Magellan Health Services, Inc		4,857
	68,080	e	Mani, Inc		1,670
	7,182	*	Masimo Corp		1,272
	336,624		McKesson Corp		45,532
	3,635	*,g	Medacta Group S.A.		212
	1,553	*,g	Medartis Holding AG.		59
	11,100	*	Medical Data Vision Co Ltd		68
	368,400		Medicare Group		600
	334,073		Mediceo Paltac Holdings Co Ltd		6,242
	328,511		Mediclinic International plc		1,088
	3,106	*	Medipost Co Ltd		66
	123,240	*	MEDNAX, Inc		1,435
	1,889,354		Medtronic plc		170,382
	169,748		Meinian Onehealth Healthcare Holdings Co Ltd		281
	26,442		Menicon Co Ltd		1,180
	167,303	*	Meridian Bioscience, Inc		1,405
	52,604	*	Merit Medical Systems, Inc		1,644
	4,029	e	Mesa Laboratories, Inc		911
	88,541		Metlifecare Ltd		200
	2,544	g	Metropolis Healthcare Ltd		42
	855,352		Microport Scientific Corp		1,913
	6,348	*	Middle East Healthcare Co		43
	27,100		Miraca Holdings, Inc		571
	7,482	*	Misonix Inc		70
	19,209	*,g	MLP Saglik Hizmetleri AS.		38
	124,670	*	Molina Healthcare, Inc		17,418
	10,235		Mouwasat Medical Services Co		225
	11,936		Nagaileben Co Ltd		293
	50,022		Nakanishi, Inc		663
	303,416	*	Nanosonics Ltd		1,041
	12,364		National Healthcare Corp		887
	4,418		National Medical Care Co		42
	14,995		National Research Corp		682
	76,786	*	Natus Medical, Inc		1,776
	51,203	*	Neogen Corp		3,430
	548,817		Network Healthcare Holdings Ltd		460
	3,502		Neuca S.A.		351

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	14,307	*,e	Neuronetics, Inc	$	27
	111,993	*	Nevro Corp		11,197
	53,839	*	NextGen Healthcare, Inc		562
	63,650		Nichii Gakkan Co		607
	41,477		Nihon Kohden Corp		1,566
	103,767		Nikkiso Co Ltd		766
	71,152		Nipro Corp		837
	159,379		NMC Health plc		207
	6,485	g	NNIT A.S.		82
	582,300		Notre Dame Intermedica Participacoes S.A.		5,038
	230,149	*	Novocure Ltd		15,498
	141,214	*	NuVasive, Inc		7,154
	70,000		Odontoprev S.A.		195
	1,130,670		Olympus Corp		16,299
	77,923	*	Omnicell, Inc		5,110
	17,035	*,e	OptimizeRx Corp		154
	48,093	*	Option Care Health, Inc		455
	65,028	*	OraSure Technologies, Inc		700
	58,909		Oriola-KD Oyj (B Shares)		106
	29,007	e	Orpea		3,012
	41,166	*	Orthofix Medical Inc		1,153
	12,423	*	OrthoPediatrics Corp		492
	2,434	*	Osstem Implant Co Ltd		56
	20,800		Ovctek China, Inc		161
	65,371		Owens & Minor, Inc		598
	10,453		Paramount Bed Holdings Co Ltd		432
	202,148		Patterson Cos, Inc		3,091
	57,091	*	Pennant Group, Inc		808
	4,572	*,e	Penumbra, Inc		738
	19,152	*,e	PetIQ, Inc		445
	135,879	*	Phreesia, Inc		2,858
	79,000	*,†	Pihsiang Machinery Manufacturing Co Ltd		0	^
	450,400	*,e,g	Ping An Healthcare and Technology Co Ltd		4,147
	291,868	*,e	PolyNovo Ltd		291
	104,981	*	PPD, Inc		1,870
	91,713	*	Premier, Inc		3,001
	21,652	e	Pro Medicus Ltd		256
	74,021	*,e	Progyny, Inc		1,569
	52,803	*	Providence Service Corp		2,898
	10,372	*,e	Pulse Biosciences, Inc		74
	625,500		Qualicorp S.A.		2,841
	289,272		Quest Diagnostics, Inc		23,229
	48,629	*	Quidel Corp		4,756
	335,659	*	R1 RCM, Inc		3,051
	57,353	*	RadNet, Inc		603
	474,456		Raffles Medical Group Ltd		257
	87,074		Ramsay Health Care Ltd		3,062
	12,840	*	RaySearch Laboratories AB		74
	69,765		Regis Healthcare Ltd		65
	39,855		Resmed, Inc		5,870
	8,628		Rhoen Klinikum AG.		170
	71,161	*,e	Rockwell Medical, Inc		146
	78,369	*	RTI Surgical Holdings Inc		134
	184,796		Ryman Healthcare Ltd		1,121

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,318	*	Sartorius AG.	$	9,878
	8,744	*	Saudi Chemical Co		48
	86,942	*	SeaSpine Holdings Corp		710
	787,529		Selcuk Ecza Deposu Ticaret ve Sanayi AS		883
	657,823	*	Select Medical Holdings Corp		9,867
	135,127	*,e	Senseonics Holdings, Inc		86
	7,147,215		Shandong Weigao Group Medical Polymer Co Ltd		8,972
	51,900		Shanghai Pharmaceuticals Holding Co Ltd		142
	590,240		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		996
	126,080		Shenzhen Mindray Bio-Medical Electronics Co Ltd		4,587
	25,808	*	Shockwave Medical Inc		856
	65,285	*	SI-BONE, Inc		780
	97,423	g	Siemens Healthineers AG.		3,766
	75,760	e	Sienna Senior Living, Inc		659
	338,411	*	Sientra, Inc		673
	533,078		Sigma Healthcare Ltd		212
	125,269	*,e	Silk Road Medical Inc		3,943
	18,896		Simulations Plus, Inc		660
	912,771		Sinopharm Group Co		2,022
	926,954		Smith & Nephew plc		16,330
	1,300		Software Service, Inc		94
	24,500		Solasto Corp		227
	39,987	*,e	Soliton Inc		324
	990,706		Sonic Healthcare Ltd		14,890
	74,615		Sonova Holdings AG		13,305
	145,721	g	Spire Healthcare Group plc		141
	14,000		St. Shine Optical Co Ltd		142
	150,387	*	Staar Surgical Co		4,851
	196,786		STERIS plc		27,544
	2,487		STRATEC Biomedical AG.		192
	10,035		Straumann Holding AG.		7,337
	120,121		Stryker Corp		19,999
	14,286		Suheung Capsule Co Ltd		407
	112,862		Summerset Group Holdings Ltd		364
	6,165,313	*	Supermax Corp BHD		2,402
	94,909	*,e	Surgery Partners, Inc		620
	24,860	*	SurModics, Inc		828
	131,846	*	Suven Pharmaceuticals Ltd		350
	149,739		Suzuken Co Ltd		5,440
	58,742		Sysmex Corp		4,251
	23,766	*,e	Tabula Rasa HealthCare, Inc		1,243
	44,944	*	Tactile Systems Technology, Inc		1,805
	10,000		TaiDoc Technology Corp		55
	187,493	*	Tandem Diabetes Care, Inc		12,065
	193,294	*,e	Teladoc, Inc		29,963
	71,288		Teleflex, Inc		20,877
	381,017	*	Tenet Healthcare Corp		5,487
	209,764		Terumo Corp		7,187
	103,800		Thonburi Healthcare Group PCL		56
	45,289	*,e	Tivity Health, Inc		285
	310,600		Toho Pharmaceutical Co Ltd		6,502
	10,309		Tokai Corp (GIFU)		280
	3,616,700		Top Glove Corp BHD		5,386

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,200	*	Topchoice Medical Corp	$	274
	2,414,000	†,e	Town Health International Medical Group Ltd		3
	13,575	*,e	Transmedics Group, Inc		164
	133,110	*,e	Triple-S Management Corp (Class B)		1,877
	26,500		Tsuki Corp		101
	1,154,323		United Drug plc		8,981
	2,059,736		UnitedHealth Group, Inc		513,657
	120,595		Universal Health Services, Inc (Class B)		11,949
	12,785		US Physical Therapy, Inc		882
	3,631		Utah Medical Products, Inc		342
	25,799		Value Added Technologies Co Ltd		453
	20,760	*	Vapotherm, Inc		391
	148,868	*	Varex Imaging Corp		3,381
	17,187	*	Varian Medical Systems, Inc		1,764
	212,064	*	Veeva Systems, Inc		33,160
	1,549		Vieworks Co Ltd		39
	103,256	*,e	ViewRay, Inc		258
	75,584		Virtus Health Ltd		87
	20,900		VITAL KSK Holdings, Inc		212
	30,469	*	Vocera Communications, Inc		647
	297,223		West Pharmaceutical Services, Inc		45,252
	31,248	*,e	William Demant Holding A.S.		680
	82,600		Winning Health Technology Group Co Ltd		241
	135,331	*,e	Wright Medical Group NV		3,877
	178,432	*,e	Xvivo Perfusion AB		1,787
	1,990	e	Ypsomed Holding AG.		258
	1,984,456		Zimmer Biomet Holdings, Inc		200,589
	15,814	*,e	Zynex Inc		175
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		4,880,404
HOUSEHOLD & PERSONAL PRODUCTS - 1.9%
	1,334		Aekyung Industrial Co Ltd		25
	26,264		Amorepacific Corp		3,602
	10,159		Amorepacific Corp (Preference)		491
	35,530	*	Bajaj Corp Ltd		62
	108,676		Beiersdorf AG.		10,943
	71,815	*	BellRing Brands, Inc		1,224
	5,499,000	†,e	Best World International Ltd		3,946
	6,759	e	Blackmores Ltd		303
	265,203		BWX Ltd		488
	82,500	*	By-health Co Ltd		194
	9,588	*	Central Garden & Pet Co		264
	91,855	*	Central Garden and Pet Co (Class A)		2,349
	9,000		Chlitina Holding Ltd		51
	47,139		Church & Dwight Co, Inc		3,025
	35,895		Clorox Co		6,219
	2,565,299		Colgate-Palmolive Co		170,233
	41,724		Colgate-Palmolive India Ltd		688
	1,605		Cosmax, Inc		103
	46,045		Coty, Inc		238
	649,075		Dabur India Ltd		3,855
	6,900		Earth Chemical Co Ltd		365
	222,099	*	Edgewell Personal Care Co		5,348
	571,544	*	elf Beauty, Inc		5,624

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,057,556	e	Energizer Holdings, Inc	$	31,991
	791,341		Essity AB		24,242
	686,928		Estee Lauder Cos (Class A)		109,455
	189,400	*	Euglena Co Ltd		1,217
	89,884	e	Fancl Corp		2,007
	6,388		Gillette India Ltd		461
	472,806		Godrej Consumer Products Ltd		3,235
	24,000		Grape King Industrial Co		156
	490,147		Hengan International Group Co Ltd		3,661
	114,641		Henkel KGaA		8,421
	200,122		Henkel KGaA (Preference)		16,006
	67,050	*	Herbalife Nutrition Ltd		1,955
	893,298		Hindustan Lever Ltd		27,091
	6,830	*	Hyundai Bioscience Co Ltd		52
	7,359	e	Inter Parfums S.A.		247
	44,605		Inter Parfums, Inc		2,067
	44,215		Jamieson Wellness, Inc		809
	62,504		Jyothy Laboratories Ltd		76
	597,796		Kao Corp		48,701
	108,118		Kimberly-Clark Corp		13,825
	2,639,816		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		3,997
	136,900	e	Kitanotatsujin Corp		665
	41,060		Kobayashi Pharmaceutical Co Ltd		3,799
	1,462		Kolmar BNH Co Ltd		27
	2,946		Korea Kolmar Co Ltd		89
	1,810		Korea Kolmar Holdings Co Ltd		26
	23,740		Kose Corp		2,938
	8,077		LG Household & Health Care Ltd		7,398
	2,570		LG Household & Health Care Ltd (Preference)		1,340
	21,176	*	Lifevantage Corp		218
	229,950		Lion Corp		4,904
	408,630		L’Oreal S.A.		105,758
	20,072		Mandom Corp		384
	405,203		Marico Ltd		1,467
	22,150	e	Medifast, Inc		1,384
	12,098		Milbon Co Ltd		609
	528,096		Natura & Co Holding S.A.		2,616
	6,509	*	Nature’s Sunshine Products, Inc		53
	8,100		Noevir Holdings Co Ltd		412
	6,406		Nu Skin Enterprises, Inc (Class A)		140
	5,389		Oil-Dri Corp of America		180
	73,134		Ontex Group NV		1,273
	21,639		Pacific Corp		977
	112,260		Pigeon Corp		4,298
	131,555		Pola Orbis Holdings, Inc		2,419
	6,731,043		Procter & Gamble Co		740,415
	5,607,500		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		401
	15,421,345		PT Unilever Indonesia Tbk		6,819
	133,454	e	PZ Cussons plc		316
	849,602		Reckitt Benckiser Group plc		64,719
	38,007	*,e	Revlon, Inc (Class A)		415
	796,639		Reynolds Consumer Products Inc		23,238
	119,629		Rohto Pharmaceutical Co Ltd		3,269

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	60,487		Sarantis S.A.	$	464
	19,400	*	Shanghai Jahwa United Co Ltd		68
	408,743		Shiseido Co Ltd		24,023
	5,725		Spectrum Brands Holdings, Inc		208
	32,900		ST Corp		488
	23,128		TCI Co Ltd		137
	328,492		Uni-Charm Corp		12,297
	1,923,160		Unilever NV		94,526
	1,369,801		Unilever plc		69,079
	12,578	*	USANA Health Sciences, Inc		726
	394,000		Vinda International Holdings Ltd		949
	13,577		WD-40 Co		2,727
	14,700	e	YA-MAN Ltd		90
	8,473	*,e	Youngevity International Inc		6
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,708,066
INSURANCE - 3.7%
	211,152		Admiral Group plc		5,815
	319,546		Aegon NV		798
	1,112,383		Aflac, Inc		38,088
	268,355	e	Ageas		11,183
	13,533,523		AIA Group Ltd		121,188
	3,616	*	Al Rajhi Co for Co-operative Insurance		46
	29,427		Alleghany Corp		16,254
	550,404		Allianz AG.		93,732
	728,539		Allstate Corp		66,829
	29,232		Alm Brand AS		213
	43,746	*	AMBAC Financial Group, Inc		540
	265,518		American Equity Investment Life Holding Co		4,992
	152,888		American Financial Group, Inc		10,714
	2,886,280		American International Group, Inc		69,992
	11,256		American National Insurance Co		927
	18,766		Amerisafe, Inc		1,210
	16,800	*	Anicom Holdings, Inc		556
	375,305		Aon plc		61,940
	931,095	*	Arch Capital Group Ltd		26,499
	36,161	*	Argo Group International Holdings Ltd		1,340
	408,638		Arthur J. Gallagher & Co		33,308
	86,413		ASR Nederland NV		2,173
	1,550,994		Assicurazioni Generali S.p.A.		21,008
	264,393		Assurant, Inc		27,521
	207,284		Assured Guaranty Ltd		5,346
	437,215	*	Athene Holding Ltd		10,852
	4,326,170		Aviva plc		14,223
	1,913,993		AXA S.A.		32,408
	467,701		Axis Capital Holdings Ltd		18,077
	54,535		Bajaj Finserv Ltd		3,298
	54,765		Baloise Holding AG.		7,140
	108,400		Bangkok Life Assurance PCL		39
	1,093,674		BB Seguridade Participacoes S.A.		5,230
	713,629		Beazley plc		3,442
	9,551	*,e	Benefytt Technologies, Inc		214
	4,123,253	*	Berkshire Hathaway, Inc (Class B)		753,854
	228,346	*	Brighthouse Financial, Inc		5,519

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	366,515		Brown & Brown, Inc	$	13,275
	17,866	*	BRP Group, Inc		188
	25,124		Bupa Arabia for Cooperative Insurance Co		610
	5,140,214		Cathay Financial Holding Co Ltd		5,982
	10,329,677		China Development Financial Holding Corp		2,531
	1,005,286		China Insurance International Holdings Co Ltd		1,627
	10,256,790		China Life Insurance Co Ltd		19,806
	124,300		China Life Insurance Co Ltd (Class A)		457
	2,281,179	*	China Life Insurance Co Ltd (Taiwan)		1,262
	250,400		China Pacific Insurance Group Co Ltd		986
	1,701,639		China Pacific Insurance Group Co Ltd (Hong Kong)		5,095
	5,966,000		China Reinsurance Group Corp		687
	1,313,596		Chubb Ltd		146,716
	233,057		Cincinnati Financial Corp		17,584
	52,381	*,e	Citizens, Inc (Class A)		342
	29,866	*	Clal Insurance		246
	41,509		CNA Financial Corp		1,288
	77,743		CNP Assurances		753
	50,296	*	Co for Cooperative Insurance		805
	147,832		Conseco, Inc		1,832
	3,630,000	*,†,e	Convoy Financial Holdings Ltd		5
	591,943		Corp Mapfre S.A.		1,004
	24,100		Crawford & Co		174
	1,129,331		Dai-ichi Mutual Life Insurance Co		13,411
	979,746		Direct Line Insurance Group plc		3,577
	648,889	e	Discovery Holdings Ltd		2,829
	24,592		Donegal Group, Inc (Class A)		374
	44,805		Dongbu Insurance Co Ltd		1,270
	32,913	*	eHealth, Inc		4,635
	137,704		Employers Holdings, Inc		5,578
	11,353	*	Enstar Group Ltd		1,806
	39,641		Erie Indemnity Co (Class A)		5,876
	102,353		Everest Re Group Ltd		19,695
	26,127		Fairfax Financial Holdings Ltd		8,010
	10,900	e	Fanhua, Inc (ADR)		219
	9,278		FBL Financial Group, Inc (Class A)		433
	21,841		FedNat Holding Co		251
	734,843		Fidelity National Financial Inc		18,283
	415,699		First American Financial Corp		17,630
	13,095,977		Fubon Financial Holding Co Ltd		16,187
	1,156,170	*	Genworth Financial, Inc (Class A)		3,838
	218,665	*,e	Gjensidige Forsikring BA		3,724
	7,915		Global Indemnity Ltd		202
	169,258		Globe Life, Inc		12,181
	14,512	*,e	Goosehead Insurance, Inc		648
	270,084		Great-West Lifeco, Inc		4,665
	26,944	*,e	Greenlight Capital Re Ltd (Class A)		160
	89,047		Grupo Catalana Occidente S.A.		1,803
	133,324	*	Hallmark Financial Services		539
	56,109		Hannover Rueckversicherung AG.		7,923
	61,301		Hanover Insurance Group, Inc		5,553
	10,936	*	Hanwha Non-Life Insurance Co Ltd		15
	61,167		Harel Insurance Investments & Finances Ltd		331

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,945,756		Hartford Financial Services Group, Inc	$	68,568
	510,126	e,g	Hastings Group Holdings Ltd		1,169
	5,294		HCI Group, Inc		213
	670,424	*,g	HDFC Life Insurance Co Ltd		3,888
	34,151		Helvetia Holding AG.		2,918
	193,067		Heritage Insurance Holdings, Inc		2,068
	196,162		Hiscox Ltd		2,234
	95,800		Horace Mann Educators Corp		3,505
	183,700		Hubei Biocause Pharmaceutical Co Ltd		152
	45,061		Hyundai Marine & Fire Insurance Co Ltd		833
	170,555		iA Financial Corp, Inc		5,362
	216,694	g	ICICI Lombard General Insurance Co Ltd		3,096
	295,321	g	ICICI Prudential Life Insurance Co Ltd		1,380
	3,703		IDI Insurance Co Ltd		99
	4,415		Independence Holding Co		113
	2,849,308		Insurance Australia Group Ltd		10,751
	241,689		Intact Financial Corp		20,889
	2,488		Investors Title Co		318
	1,040,300	*	IRB Brasil Resseguros S		1,938
	29,111		James River Group Holdings Ltd		1,055
	711,821		Japan Post Holdings Co Ltd		5,568
	2,276,500		Japan Post Insurance Co Ltd		28,126
	2,581,906	*,e	Just Retirement Group plc		1,706
	201,417		Kemper Corp		14,979
	53,783		Kinsale Capital Group, Inc		5,622
	251,717		Korea Life Insurance Co Ltd		284
	29,173		Korean Reinsurance Co		174
	144,173		Lancashire Holdings Ltd		1,111
	7,028,885		Legal & General Group plc		16,607
	86,276	e	Liberty Holdings Ltd		318
	806,414		Lincoln National Corp		21,225
	384,807		Loews Corp		13,403
	17,442	*	Lotte Non-Life Insurance Co Ltd		19
	2,279,821		Manulife Financial Corp (Toronto)		28,625
	20,365	*	Markel Corp		18,896
	1,704,436		Marsh & McLennan Cos, Inc		147,366
	165,119	*	Max India Ltd		834
	386,508	*	MBIA, Inc		2,760
	3,685,736		Medibank Pvt Ltd		6,061
	63,395		Menorah Mivtachim Holdings Ltd		715
	972,999		Mercuries & Associates Holding Ltd		656
	2,578,058	*	Mercuries Life Insurance Co Lt		699
	172,069		Mercury General Corp		7,007
	31,073		Meritz Fire & Marine Insurance Co Ltd		309
	2,351,983		Metlife, Inc		71,900
	1,332,287		Migdal Insurance Holdings Ltd		692
	211,532		Mirae Asset Life Insurance Co Ltd		537
	492,709		Mitsui Sumitomo Insurance Group Holdings, Inc		13,747
	2,389,633		Momentum Metropolitan Holdings		2,083
	112,522		Muenchener Rueckver AG.		22,625
	458,959		National General Holdings Corp		7,596
	2,231		National Western Life Group, Inc		384
	70,600		New China Life Insurance Co Ltd		392
	541,082		New China Life insurance Co Ltd (Hong Kong)		1,666

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,858	*	NI Holdings, Inc	$	120
	1,005,692		nib holdings Ltd		3,205
	120,014		NKSJ Holdings, Inc		3,699
	326,905		NN Group NV		8,884
	4,020,805	e	Old Mutual Ltd		2,667
	424,923		Old Republic International Corp		6,480
	34,692	*	Palomar Holdings, Inc		2,018
	9,719,888		People’s Insurance Co Group of China Ltd		3,184
	294,200	*	People’s Insurance Co Group of China Ltd (Class A)		259
	550,152		Phoenix Group Holdings plc		4,222
	285,320		Phoenix Holdings Ltd		1,360
	6,082,318		PICC Property & Casualty Co Ltd		5,824
	10,635,676		Ping An Insurance Group Co of China Ltd		103,871
	759,110		Ping An Insurance Group Co of China Ltd (Class A)		7,347
	71,874		Porto Seguro S.A.		621
	635,250	g	Poste Italiane S.p.A		5,347
	623,082	e	Power Corp Of Canada		10,024
	546,030		Powszechny Zaklad Ubezpieczen S.A.		4,102
	64,514		Primerica, Inc		5,708
	586,258		Principal Financial Group		18,373
	96,593		ProAssurance Corp		2,415
	1,088,312		Progressive Corp		80,361
	75,548	*	ProSight Global, Inc		737
	9,985		Protective Insurance Corp		137
	113,218	*,e	Protector Forsikring ASA		259
	930,035		Prudential Financial, Inc		48,492
	3,974,463		Prudential plc		49,799
	2,660,400	*	PT Panin Life Tbk		34
	1,423,345		Qatar Insurance Co SAQ		809
	1,495,946		QBE Insurance Group Ltd		7,792
	823,129		Qualitas Controladora SAB de C.V.		2,114
	686,107	e	Rand Merchant Investment Holdings Ltd		852
	97,082		Reinsurance Group of America, Inc (Class A)		8,168
	68,040		RenaissanceRe Holdings Ltd		10,160
	39,489		RLI Corp		3,472
	978,453		RSA Insurance Group plc		5,106
	123,121	e,g	Sabre Insurance Group plc		437
	21,906		Safety Insurance Group, Inc		1,850
	582,461		Saga plc		122
	409,769		Sampo Oyj (A Shares)		11,821
	19,645		Samsung Fire & Marine Insurance Co Ltd		2,485
	45,186		Samsung Life Insurance Co Ltd		1,581
	1,598,221	e	Sanlam Ltd		4,551
	298,097	g	SBI Life Insurance Co Ltd		2,526
	69,979		SCOR SE		1,540
	283,724		Selective Insurance Group, Inc		14,101
	31,259,516		Shin Kong Financial Holding Co Ltd		7,840
	490,000		Shinkong Insurance Co Ltd		543
	81,323		Societa Cattolica di Assicurazioni SCRL		402
	563,518		Sony Financial Holdings, Inc		9,462
	17,217		State Auto Financial Corp		478
	1,033,047		Steadfast Group Ltd		1,557
	22,870		Stewart Information Services Corp		610

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	242,632		Storebrand ASA	$	968
	240,894		Sul America S.A.		1,567
	691,388	e	Sun Life Financial, Inc		22,241
	1,391,690		Suncorp-Metway Ltd		7,728
	43,597		Swiss Life Holding		14,633
	123,439		Swiss Re Ltd		9,505
	52,600		Syarikat Takaful Malaysia BHD		40
	1,945,670		T&D Holdings, Inc		15,773
	734,691	*	Third Point Reinsurance Ltd		5,444
	67,130		TI Financial Holdings Ltd		256
	28,996		Tiptree Inc		151
	1,747,832		Tokio Marine Holdings, Inc		79,971
	9,411		Tong Yang Life Insurance		18
	123,600	e	Topdanmark AS		4,960
	22,300		TQM Corp PCL		45
	625,975		Travelers Cos, Inc		62,191
	46,784	*,e	Trupanion, Inc		1,218
	72,824		Tryg A.S.		1,773
	1,554,649		Unipol Gruppo Finanziario S.p.A		5,302
	242,505		Uniqa Versicherungen AG.		1,865
	26,355		United Fire Group Inc		859
	65,173		United Insurance Holdings Corp		602
	93,073		Universal Insurance Holdings, Inc		1,668
	327,914		Unum Group		4,922
	481,676		W.R. Berkley Corp		25,129
	75,353	*	Watford Holdings Ltd		1,104
	7,460		White Mountains Insurance Group Ltd		6,789
	116,204		Wiener Staedtische Allgemeine Versicherung AG.		2,192
	201,223	e	Willis Towers Watson plc		34,178
	14,500		Wiz Solucoes e Corretagem de Seguros S.A.		25
	12,157		Wuestenrot & Wuerttembergische AG.		186
	278,400	*,e,g	ZhongAn Online P&C Insurance Co Ltd		905
	226,786		Zurich Insurance Group AG		79,671
			TOTAL INSURANCE		3,310,457
MATERIALS - 3.9%
	58,788		Aarti Industries		595
	394,118		Acerinox S.A.		2,653
	22,316		Achilles Corp		360
	43,100		ADEKA Corp		537
	202,908		Adelaide Brighton Ltd		259
	22,301	e	Advanced Emissions Solutions, Inc		147
	16,278	e	Advanced Metallurgical Group NV		235
	101,230		Advanced Petrochemical Co		1,192
	33,918		Advansa Sasa Polyester Sanayi AS		45
	26,565	*	AdvanSix, Inc		253
	87,807		Aeci Ltd		364
	90,676		African Rainbow Minerals Ltd		502
	256,119		Agnico-Eagle Mines Ltd		10,224
	5,300		Aichi Steel Corp		154
	360,246		Air Liquide		45,984
	249,614		Air Products & Chemicals, Inc		49,825
	263,148		Air Water, Inc		3,604
	919		AK Holdings, Inc		13

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,854		Akzo Nobel India Ltd	$	54
	407,641		Akzo Nobel NV		26,810
	444,009		Alamos Gold, Inc		2,231
	250,770	e	Albemarle Corp		14,136
	362,425	*	Alcoa Corp		2,233
	127,102	*	Allegheny Technologies, Inc		1,080
	46,048	e	Altius Minerals Corp		232
	37,253		Altri SGPS S.A.		147
	7,199	*	Alujain Corp		45
	2,027,080		Alumina Ltd		1,817
	3,698,145	*	Aluminum Corp of China Ltd		726
	534,700	*	Aluminum Corp of China Ltd (Class A)		215
	526,290	*	Ambuja Cements Ltd		1,082
	19,749		Amcor plc		160
	54,166		American Vanguard Corp		783
	107,996	*,e	Amyris, Inc		276
	2,292,304		Anadolu Cam Sanayii AS		1,077
	335,543	*	Anatolia Minerals Development Ltd		1,082
	331,240		Angang Steel Co Ltd		125
	151,047	e	Anglo American Platinum Ltd		6,310
	1,271,081		Anglo American plc (London)		22,274
	356,958		AngloGold Ashanti Ltd		6,048
	3,204,469		Anhui Conch Cement Co Ltd		22,013
	206,200		Anhui Conch Cement Co Ltd (Class A)		1,579
	510,135		Antofagasta plc		4,872
	112,158		APERAM		2,372
	1,213		APL Apollo Tubes Ltd		20
	22,085		Aptargroup, Inc		2,198
	108,643		Arabian Cement Co		710
	620,773		ArcelorMittal		5,860
	27,339		Ardagh Group S.A.		324
	239,011		Arkema		16,318
	3,424	*,†	Arti Surfactants Ltd		10
	99,017		Asahi Holdings, Inc		2,076
	1,205,093		Asahi Kasei Corp		8,444
	19,106		Ashland Global Holdings, Inc		957
	3,069,000		Asia Cement China Holdings Corp		3,075
	4,289		Asia Cement Co Ltd		165
	7,617,164		Asia Cement Corp		9,890
	514,920		Asian Paints Ltd		11,342
	92,700		ATA IMS BHD		18
	13,061		Atul Ltd		684
	34,732		Aurubis AG.		1,413
	55,601		Avery Dennison Corp		5,664
	3,628,476	*	Axalta Coating Systems Ltd		62,664
	1,394,148		B2Gold Corp		4,220
	45,832		Balchem Corp		4,525
	1,123,841		Ball Corp		72,668
	1,164,700		Baoshan Iron & Steel Co Ltd		795
	2,535,124		Barrick Gold Corp (Canada)		46,584
	2,640		BASF India Ltd		39
	422,332		BASF SE		19,741
	12,200		Bayer CropScience Ltd		558

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	27,900		BBMG Corp	$	13
	7,756,000	e	BBMG Corp (Class H)		1,922
	70,500		Beijing Oriental Yuhong Waterproof Technology Co Ltd		334
	448,200		Beijing Sanju Environmental Protection and New Material Co Ltd		284
	18,799		Bekaert S.A.		313
	140,506		Berger Paints India Ltd		922
	2,318,311	*	Berry Global Group, Inc		78,150
	3,256,758		BHP Billiton Ltd		59,082
	2,813,761		BHP Group plc		43,669
	91,796		Billerud AB		1,001
	4,000	*,†,e	Bio On S.p.A.		23
	4,560		Birla Corp Ltd		25
	676,269		BlueScope Steel Ltd		3,541
	118,369		Boise Cascade Co		2,815
	495,312		Boliden AB		8,886
	1,537,071		Boral Ltd		1,931
	49,279		Borregaard ASA		456
	858,000		Bradespar S.A.		4,815
	170,575		Braskem S.A.		565
	38,811		Brickworks Ltd		317
	173,826		Buzzi Unicem S.p.A.		3,175
	52,356		Buzzi Unicem S.p.A. RSP		492
	19,564		Cabot Corp		511
	137,500		Cahya Mata Sarawak BHD		38
	71,445	*	Canfor Corp		371
	33,205		Canfor Pulp Products, Inc		120
	14,056		CAP S.A.		60
	50,214		Carpenter Technology Corp		979
	168,365		Cascades, Inc		1,504
	133,267	e	CCL Industries		4,052
	43,720		Celanese Corp (Series A)		3,209
	124,668	*	Cementir Holding NV		676
	124,259		Cementos Argos S.A.		125
	35,005	*	Cemex Latam Holdings S.A.		13
	25,152,978	e	Cemex S.A. de C.V.		5,227
	2,107,600		Cemex SAB de C.V. (ADR)		4,468
	1,041,370		Centamin plc		1,546
	250,177	*	Centerra Gold, Inc		1,488
	191,065		Central Asia Metals plc		361
	47,840	*	Century Aluminum Co		173
	23,000		Century Iron & Steel Industrial Co Ltd		59
	13,634		Century Plyboards India Ltd		20
	6,491		Century Textile & Industries Ltd		25
	2,156,758		CF Industries Holdings, Inc		58,664
	171,460		Chambal Fertilizers & Chemicals Ltd		245
	7,131		Chase Corp		587
	54,814		Chemours Co		486
	3,084,560		Cheng Loong Corp		2,089
	95,000	*	Chia Hsin Cement Corp		47
	362,695		China BlueChemical Ltd		56
	70,550		China General Plastics Corp		33
	13,600		China Hi-ment Corp		18

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,465,500		China Hongqiao Group Ltd	$	619
	243,500	*	China Jushi Co Ltd		269
	247,232		China Manmade Fibers Corp		42
	57,112		China Metal Products		42
	858,455	*,†,e	China Metal Recycling Holdings Ltd		1
	204,000	*,e,g	China Metal Resources Utilization Ltd		77
	4,332,000	e	China Molybdenum Co Ltd		1,191
	724,200		China Molybdenum Co Ltd (Class A)		348
	13,103,982		China National Building Material Co Ltd		14,078
	148,200		China Northern Rare Earth Group High-Tech Co Ltd		186
	236,000		China Oriental Group Co Ltd		60
	688,359		China Petrochemical Development Corp		165
	2,248,000		China Resources Cement Holdings Ltd		2,641
	49,000		China Steel Chemical Corp		151
	10,005,020		China Steel Corp		6,267
	181,783		China Synthetic Rubber Corp		116
	82,000		China XLX Fertiliser Ltd		22
	1,135,200		China Zhongwang Holdings Ltd		297
	88,291		Christian Hansen Holding		6,515
	25,178		Chugoku Marine Paints Ltd		204
	809		Chunbo Co Ltd		34
	199,000		Chung Hung Steel Corp		43
	82,540		Chung Hwa Pulp Corp		18
	282,771		Cia de Minas Buenaventura S.A. (ADR) (Series B)		2,061
	1,926,548		Cia Siderurgica Nacional S.A.		2,588
	70,501	*	Ciech S.A.		455
	270,538		City Cement Co		887
	19,589		Clariant AG.		326
	29,318	*	Clearwater Paper Corp		639
	387,464	e	Cleveland-Cliffs, Inc		1,530
	542,223	*	Coeur Mining, Inc		1,741
	647,924		Commercial Metals Co		10,231
	86,132	*,†	Companhia Vale do Rio Doce		0
	34,145		Compass Minerals International, Inc		1,314
	146,296	*	Constellium SE		762
	30,726		Corbion NV		927
	56,887		Coromandel International Ltd		411
	506,889	g	Coronado Global Resources, Inc (ADR)		356
	1,518,887		Corteva, Inc		35,694
	20,706		Corticeira Amorim SGPS S.A.		187
	652,733	g	Covestro AG.		19,809
	120,000	e	CPMC Holdings Ltd		38
	1,841,288		CRH plc		49,794
	26,506		Croda International plc		1,398
	1,366,618	*	Crown Holdings, Inc		79,319
	809,820		CSR Ltd		1,552
	605,100		D&L Industries Inc		59
	35,008		Daicel Chemical Industries Ltd		255
	13,531		Daido Steel Co Ltd		434
	5,600		Daiken Corp		87
	6,271		Dainichiseika Color & Chemicals Manufacturing Co Ltd		136
	38,101		Dainippon Ink and Chemicals, Inc		840
	457,081	e	Daio Paper Corp		6,142

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,900		Daiso Co Ltd	$	163
	7,997		Deepak Nitrite Ltd		40
	45,549		Denki Kagaku Kogyo KK		953
	92,979		Domtar Corp		2,012
	64,045		Dongjin Semichem Co Ltd		690
	11,510	*	Dongkuk Steel Mill Co Ltd		34
	921		Dongwon Systems Corp		15
	240,000		Dongyue Group		95
	1,488,489	n	Dow, Inc		43,523
	125,229		Dowa Holdings Co Ltd		3,270
	896,134		DS Smith plc		3,037
	227,434		DSM NV		25,584
	2,228	*	Duk San Neolux Co Ltd		47
	164,066		Dundee Precious Metals, Inc		518
	3,606,602	n	DuPont de Nemours, Inc		122,985
	6,055		Eagle Materials, Inc		354
	200,000		Eastern Polymer Group PCL		21
	54,270		Eastern Province Cement Co		400
	46,345		Eastman Chemical Co		2,159
	379,998		Ecolab, Inc		59,215
	3,940		Ecopro Co Ltd		57
	62,537		EID Parry India Ltd		114
	39,230	*	El Ezz Steel Co		14
	180,825	*	Eldorado Gold Corp		1,124
	75,415	*	Element Solutions, Inc		630
	301,131		Elementis plc		184
	135,715	e,g	Elkem ASA		171
	3,059,797		Empresas CMPC S.A.		6,518
	3,159		EMS-Chemie Holding AG.		1,970
	70,284	e	Ence Energia y Celulosa S.A.		192
	87,617	*	Endeavour Mining Corp		1,246
	156,539	*,e	Endeavour Silver Corp		210
	83,890		Engro Chemical Pakistan Ltd		135
	2,445,000		Engro Fertilizers Ltd		846
	168,508	*	Equinox Gold Corp		1,126
	4,844	e	Eramet		152
	2,876,047		Eregli Demir ve Celik Fabrikalari TAS		3,259
	73,023	*,e	ERO Copper Corp		548
	232,414		Essentra plc		752
	231,574		Eternal Chemical Co Ltd		172
	551,257		Eugene Corp		1,510
	85,128		Everlight Chemical Industrial Corp		34
	1,634,563		Evolution Mining Ltd		3,820
	131,236		Evonik Industries AG.		2,741
	897,663		Evraz plc		2,568
	703,300		Fauji Fertilizer Co Ltd		392
	114,050		Feng Hsin Iron & Steel Co		174
	8,200		Ferbasa-Ferro Ligas DA Bahia		20
	152,591		Ferrexpo plc		219
	147,568	*	Ferro Corp		1,381
	202,348	*,†	Ferroglobe plc		0
	6,740		Finolex Industries Ltd		35
	209,430	*,e	First Majestic Silver Corp		1,298
	1,455,363		First Quantum Minerals Ltd		7,436

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	830,660		Fletcher Building Ltd	$	1,729
	51,943	*	Flotek Industries, Inc		46
	224,431		FMC Corp		18,334
	10,647		Foosung Co Ltd		53
	3,177,919		Formosa Chemicals & Fibre Corp		6,998
	3,902,712		Formosa Plastics Corp		9,654
	318,772	g	Forterra plc		699
	94,941	*	Forterra, Inc		568
	3,284,666		Fortescue Metals Group Ltd		20,129
	183,679	*,e	Fortuna Silver Mines, Inc		423
	12,160		FP Corp		809
	187,043		Franco-Nevada Corp		18,688
	2,890,466		Freeport-McMoRan, Inc (Class B)		19,511
	688,700	e	Fresnillo plc		5,658
	112,961	e	Fuchs Petrolub AG. (Preference)		4,029
	4,763,200		Fufeng Group Ltd		1,628
	33,797		Fuji Seal International, Inc		595
	9,675		Fujimi, Inc		239
	8,030		Fujimori Kogyo Co Ltd		216
	52,400		Furukawa-Sky Aluminum Corp		748
	2,691,800		Fushan International Energy Group Ltd		488
	9,300		Fuso Chemical Co Ltd		261
	42,758		FutureFuel Corp		482
	778,595	*,e	Galaxy Resources Ltd		381
	1,951		Galaxy Surfactants Ltd		30
	101,991	*	GCP Applied Technologies, Inc		1,815
	27,500		GEM Co Ltd		18
	2,412,612		Gerdau S.A. (Preference)		4,666
	6,800		Givaudan S.A.		20,923
	10,292,531		Glencore Xstrata plc		15,578
	68,500		Global Green Chemicals PCL		12
	145,994		Godo Steel Ltd		2,835
	1,634,575		Gold Fields Ltd		7,977
	489,000		Gold Resource Corp		1,345
	583,752	*	Gold Road Resources Ltd		496
	2,416,510		Goldsun Development & Construction Co Ltd		878
	177,000	*	Grand Pacific Petrochemical		75
	151,732		Granges AB		745
	871,850		Graphic Packaging Holding Co		10,637
	250,561		Grasim Industries Ltd		1,567
	605,755	*,†	Great Basin Gold Ltd		4
	25,535		Greif, Inc (Class A)		794
	18,623		Greif, Inc (Class B)		746
	3,870	e	Groupe Guillin		55
	248,616		Grupo Argos S.A.		754
	54,300	e	Grupo Cementos de Chihuahua SAB de C.V.		160
	5,663,344		Grupo Mexico S.A. de C.V. (Series B)		10,442
	116,600		Guangdong HEC Technology Holding Co Ltd		114
	1,985		Gujarat Alkalies & Chemicals Ltd		6
	241,103		Gujarat Narmada Valley Fertilizers Co Ltd		365
	2,524		Gulf Oil Lubricants India Ltd		17
	2,885		Gurit Holding AG.		3,411
	49,865		H.B. Fuller Co		1,393

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,534	*	Hadera Paper Ltd	$	57
	315		Hanil Cement Co Ltd		16
	1,899		Hansol Chemical Co Ltd		123
	187,919		Hansol Paper Co Ltd		1,606
	132,357		Hanwha Chemical Corp		1,439
	1,110,615	*	Harmony Gold Mining Co Ltd		2,394
	9,764		Hawkins, Inc		348
	37,506		Haynes International, Inc		773
	1,290,207		Hecla Mining Co		2,348
	303,997		HeidelbergCement AG.		12,988
	13,125		HeidelbergCement India Ltd		25
	262,220		Hengli Petrochemical Co Ltd		455
	148,300		Hengyi Petrochemical Co Ltd		259
	462,800		Hesteel Co Ltd		138
	630,045		Hexpol AB		3,723
	151,517		Hill & Smith Holdings plc		1,781
	17,187		Himadri Speciality Chemical Ltd		7
	1,743,479		Hindalco Industries Ltd		2,196
	100,915	*	Hitachi Chemical Co Ltd		4,294
	388,689		Hitachi Metals Ltd		4,080
	201,762	e	Hochschild Mining plc		264
	3,100		Hodogaya Chemical Co Ltd		88
	275,329		Hokuetsu Paper Mills Ltd		1,028
	187,116		Holcim Ltd		6,829
	223,307	e	Holmen AB		6,054
	15,405		Honam Petrochemical Corp		2,418
	50,000		Hsin Kuang Steel Co Ltd		35
	160,000		Huabao International Holdings Ltd		58
	74,600		Huaxin Cement Co Ltd		241
	3,751		Huchems Fine Chemical Corp		45
	593,220	e	HudBay Minerals, Inc		1,121
	157,876		Huhtamaki Oyj		5,055
	205,000	*	Hunan Valin Steel Co Ltd		113
	1,675,521		Huntsman Corp		24,178
	538	*	Hyosung Advanced Materials Corp		27
	3,374		Hyosung Chemical Corp		226
	82,512		Hyosung Corp		4,112
	76,961		Hyundai Steel Co		1,125
	812,892	*	IAMGOLD Corp		1,848
	212,226	g	Ibstock plc		399
	358,660		Iluka Resources Ltd		1,517
	36,258		IMCD Group NV		2,602
	16,494		Imerys S.A.		409
	1,112,523		Impala Platinum Holdings Ltd		4,635
	1,339,442		Incitec Pivot Ltd		1,661
	1,711,229		Independence Group NL		4,396
	37,743		India Cements Ltd		53
	1,005,578		Indorama Ventures PCL (Foreign)		651
	121,621		Industrias Penoles S.A. de C.V.		809
	110,088	*	Ingevity Corp		3,875
	2,437,500		Inner Mongolia BaoTou Steel Union Co Ltd		393
	84,620		Inner Mongolia Eerduosi Resourses Co Ltd		68
	373,300	*	Inner Mongolia Junzheng Energy & Chemical Industry Group Co Ltd		128

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	106,114		Innospec, Inc	$	7,374
	14,367	*	Inox Fluorochemicals Ltd		54
	76,681	*	Interfor Corp		341
	35,903	e	International Flavors & Fragrances, Inc		3,665
	1		International Flavors & Fragrances, Inc (Tel Aviv)		0	^
	611,854		International Paper Co		19,047
	117,041		Intertape Polymer Group, Inc		835
	97,077	*	Intrepid Potash, Inc		78
	16,717		Ishihara Sangyo Kaisha Ltd		85
	245,026		Israel Chemicals Ltd		780
	3,999	*	Israel Corp Ltd		404
	1,084,314	*	Ivanhoe Mines Ltd		1,803
	505,610		James Hardie Industries NV		5,870
	10,809		Jastrzebska Spolka Weglowa S.A.		32
	10,900		JCU Corp		225
	400,205	*	JFE Holdings, Inc		2,593
	16,800		Jiangsu Yangnong Chemical Co Ltd		159
	4,856,545		Jiangxi Copper Co Ltd		4,456
	94,700		Jiangxi Copper Co Ltd (Class A)		167
	59,900		Jiangxi Ganfeng Lithium Co Ltd		336
	512,000		Jinchuan Group International Resources Co Ltd		31
	371,146		Jindal Saw Ltd		225
	1,794,865	*	Jindal Steel & Power Ltd		1,928
	192,749		Jinduicheng Molybdenum Co Ltd		163
	291,389	*	Jinshan Gold Mines, Inc		116
	3,693		JK Cement Ltd		46
	5,852		JK Lakshmi Cement Ltd		15
	33,853		Johnson Matthey plc		746
	6,707		JSP Corp		87
	1,837,878		JSR Corp		33,592
	752,575		JSW Steel Ltd		1,446
	2,756,148		Jupiter Mines Ltd		377
	99,296	e	K&S AG.		571
	15,488		Kaiser Aluminum Corp		1,073
	24,715		Kaneka Corp		589
	170,280		Kansai Paint Co Ltd		3,230
	93,000		Kanto Denka Kogyo Co Ltd		662
	5,391,967		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)		1,549
	2,064,223		KAZ Minerals plc		8,952
	368,285	*	Kemira Oyj		3,550
	245,649	*	KGHM Polska Miedz S.A.		3,511
	17,400		KH Neochem Co Ltd		244
	1,441,210	*	Kinross Gold Corp		5,786
	346,827		Kirkland Lake Gold Ltd		10,215
	1,119		KISWIRE Ltd		13
	586,451		Klabin S.A.		1,805
	1,349,700		Klabin S.A. (Preference)		836
	14,200		Koatsu Gas Kogyo Co Ltd		94
	160,800	*	Kobe Steel Ltd		495
	52,426	*	Kolon Industries, Inc		1,278
	15,058		Konishi Co Ltd		199

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	17,542	*	Koppers Holdings, Inc	$	217
	13,669		Korea Kumho Petrochemical		722
	16,643		Korea Petrochemical Ind Co Ltd		1,184
	7,846		Korea Zinc Co Ltd		2,283
	9,423	*	Koza Altin Isletmeleri AS		87
	942,447	*	Koza Anadolu Metal Madencilik Isletmeleri AS		1,293
	31,423	*	Kraton Corp		255
	23,290		Kronos Worldwide, Inc		197
	2,400		Krosaki Harima Corp		90
	17,922	*,e	Kuk-il Paper Manufacturing Co Ltd		75
	242,905	e	Kumba Iron Ore Ltd		3,788
	136,448	e	Kumiai Chemical Industry Co Ltd		1,050
	222,544		Kuraray Co Ltd		2,239
	98,100		Kureha CORP		3,978
	77,100		Kyoei Steel Ltd		886
	192,184	e	Labrador Iron Ore Royalty Corp		2,296
	510,246		Lanxess AG.		20,310
	329,175	*,e	Largo Resources Ltd		164
	5,152,000		Lee & Man Paper Manufacturing Ltd		3,090
	6,887	e	Lenzing AG.		380
	95,536		LG Chem Ltd		23,663
	9,969		LG Chem Ltd (Preference)		1,199
	4,305		Linde India Ltd		27
	1,777,095		Linde plc		307,437
	273,923		Linde plc (Xetra)		47,509
	21,900		Lintec Corp		458
	55,191	*,e	Lithium Americas Corp		146
	147,672	*,e	Livent Corp		775
	4,451	*	Lock & Lock Co Ltd		33
	12,600	*,e	Loma Negra Cia Industrial Argentina S.A. (ADR)		45
	119,600	*	Lomon Billions Group Co Ltd		249
	115,704		Long Chen Paper Co Ltd		44
	190,023		Louisiana-Pacific Corp		3,265
	34,601	*	LSB Industries, Inc		73
	358,920	e	Lucara Diamond Corp		103
	26,450		Lucky Cement Ltd		59
	75,446	*	Lundin Gold, Inc		420
	588,125		Lundin Mining Corp		2,211
	139,400		Luxi Chemical Group Co Ltd		159
	738,767	*	Lynas Corp Ltd		648
	170,382		LyondellBasell Industries NV		8,456
	1,188,000	e	Maanshan Iron & Steel Co Ltd		370
	524,000	*	Maanshan Iron & Steel Co Ltd (Class A)		185
	43,009		Madras Cements Ltd		291
	88,526	*,e	MAG. Silver Corp		683
	92,749	*	Major Drilling Group International		188
	42,758	*,e	Marrone Bio Innovations, Inc		35
	669,964		Marshalls plc		4,872
	7,983		Martin Marietta Materials, Inc		1,511
	40,278	e	Maruichi Steel Tube Ltd		965
	231,333		Materion Corp		8,099
	20,847	*	Mayville Engineering Co Inc		128
	32,100	*,e	Mechel PJSC (ADR)		46
	4,125,609		Mesaieed Petrochemical Holding Co		1,647

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	187,100		Metalurgica Gerdau S.A.	$	167
	55,675		Methanex Corp		678
	260,114		Mineral Resources Ltd		2,201
	50,244		Minerals Technologies, Inc		1,822
	31,915		Miquel y Costas & Miquel S.A.		401
	1,256,243		Mitsubishi Chemical Holdings Corp		7,460
	158,110		Mitsubishi Gas Chemical Co, Inc		1,706
	80,465		Mitsubishi Materials Corp		1,645
	170,834		Mitsui Chemicals, Inc		3,215
	329,264		Mitsui Mining & Smelting Co Ltd		5,468
	782,586		MMC Norilsk Nickel PJSC (ADR)		18,986
	508,000	*	MMG Ltd		72
	10,689		MOIL Ltd		14
	479,276		Mondi plc		8,088
	12,981	*,†	Mongolian Metals Corporation		0
	97,067		Moorim P&P Co Ltd		231
	334,530		Mosaic Co		3,620
	207,351		Mount Gibson Iron Ltd		84
	99,624	*,e	M-real Oyj (B Shares)		539
	201,105		Myers Industries, Inc		2,162
	21,228		Mytilineos Holdings S.A.		142
	675,488	*	Najran Cement Co		1,631
	11,700		Nakayama Steel Works Ltd		43
	4,297		Namhae Chemical Corp		24
	153,226	*	Nampak Ltd		8
	14,102	*	Namsun Aluminum Co Ltd		56
	10,000		Nan Pao Resins Chemical Co Ltd		36
	4,628,995		Nan Ya Plastics Corp		8,328
	948,275		Nantex Industry Co Ltd		837
	1,533,630		National Aluminium Co Ltd		589
	242,848	*	National Industrialization Co		592
	2,278		Navin Fluorine International Ltd		37
	16,958		Neenah Inc		731
	15,654		Neo Performance Materials, Inc		68
	15,717		Neturen Co Ltd		102
	760,904	*	New Gold, Inc		395
	866,285		Newcrest Mining Ltd		11,896
	2,502		NewMarket Corp		958
	2,040,051		Newmont Goldcorp Corp		92,374
	17,300		Nihon Nohyaku Co Ltd		67
	44,681		Nihon Parkerizing Co Ltd		461
	1,487,102		Nine Dragons Paper Holdings Ltd		1,347
	50,426	*,e	Nippon Denko Co Ltd		70
	182,166		Nippon Kayaku Co Ltd		1,674
	289,232		Nippon Light Metal Holdings Co Ltd		450
	143,252		Nippon Paint Co Ltd		7,457
	325,070	e	Nippon Paper Industries Co Ltd		4,622
	13,728		Nippon Shokubai Co Ltd		627
	12,362		Nippon Soda Co Ltd		307
	828,949		Nippon Steel Corp		7,066
	7,800		Nippon Valqua Industries Ltd		126
	113,031		Nissan Chemical Industries Ltd		4,094
	2,807		Nittetsu Mining Co Ltd		110

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	175,287		Nitto Denko Corp	$	7,786
	54,182		NOF Corp		1,711
	55,817		Norbord, Inc		660
	1,124,126		Norsk Hydro ASA		2,424
	433,023	*	Northam Platinum Ltd		1,652
	18,493	*	Northern Region Cement Co		44
	909,494		Northern Star Resources Ltd		5,892
	287,673	*	Novagold Resources Inc		2,123
	278,026	*,e	Novagold Resources, Inc		2,051
	119,631		Novolipetsk Steel PJSC (GDR)		1,902
	21,002		Novozymes AS		942
	464,365		Nucor Corp		16,726
	242,040	*	Nufarm Ltd		749
	500,000	e	Nutrien Ltd		16,970
	1,082,815		Nutrien Ltd (Toronto)		37,017
	708,559	*	OceanaGold Corp		680
	20,070	*	OCI Co Ltd		568
	1,107,726	*,e	OCI NV		13,237
	37,635		Odisha Cement Ltd		245
	10,080		Oeneo S.A.		124
	52,973		O-I Glass, Inc		377
	748,979		OJI Paper Co Ltd		3,982
	5,600		Okamoto Industries, Inc		200
	55,849		Olin Corp		652
	10,131		Olympic Steel, Inc		105
	35,745	*,e	Omnia Holdings Ltd		46
	95,881	*	Omnova Solutions, Inc		972
	983,043	e	Orbia Advance Corp SAB de C.V.		1,081
	460,741		Orica Ltd		4,313
	108,000		Oriental Union Chemical Corp		51
	80,321		Orion Engineered Carbons SA		599
	108,534	*,e	Orocobre Ltd		138
	625,739		Orora Ltd		932
	6,229		Osaka Steel Co Ltd		66
	130,514	e	Osisko Gold Royalties Ltd		974
	217,753	*	Osisko Mining, Inc		345
	162,074	*,e	Outokumpu Oyj		393
	167,946		Oxiana Ltd		749
	47,750	e	Pacific Metals Co Ltd		689
	6,800		Pack Corp		227
	6,550		Packages Ltd		9
	152,308		Packaging Corp of America		13,225
	737,295	*,e	Pact Group Holdings Ltd		689
	282,304		Pan American Silver Corp (Toronto)		4,062
	145,300	*	Pangang Group Vanadium Titanium & Resources Co Ltd		45
	2,462,004		Perenti Global Ltd		901
	3,859,766	*	Perseus Mining Ltd		2,194
	224,915	*	Petkim Petrokimya Holding		103
	2,282,416		Petronas Chemicals Group BHD		2,662
	442,919		PH Glatfelter Co		5,412
	130,732		Phillips Carbon Black Ltd		108
	122,835		PhosAgro PJSC (GDR)		1,268
	61,625		PI Industries Ltd		956

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	137,309		Pidilite Industries Ltd	$	2,460
	770,439	*,e	Pilbara Minerals Ltd		79
	185,601		Polymetal International plc (ADR)		3,177
	521,470		PolyOne Corp		9,892
	103,590	*	Polyus PJSC (GDR)		7,065
	39,934		Poongsan Corp		573
	111,664		Portucel Empresa Produtora de Pasta e Papel S.A.		265
	69,092	*	POSCO		9,092
	25,313	e	POSCO Refractories & Environment Co Ltd		898
	355,165	*	PPC Ltd		34
	932,626		PPG Industries, Inc		77,968
	40,167	*	PQ Group Holdings, Inc		438
	228,126	*,e	Premier Gold Mines Ltd		193
	1,042,100		Press Metal BHD		797
	199,682	*	Pretium Resources, Inc		1,139
	24,199		Prism Cement Ltd		10
	1,713,704		PT Aneka Tambang Tbk		47
	21,205,200	*	PT Barito Pacific Tbk		929
	2,401,500		PT Indah Kiat Pulp and Paper Corp Tbk		586
	1,681,443		PT Indocement Tunggal Prakarsa Tbk		1,281
	815,998	*	PT Krakatau Steel Tbk		7
	2,367,000		PT Pabrik Kertas Tjiwi Kimia Tbk		576
	8,218,300	*,†	PT Sekawan Intipratama Tbk		0	^
	2,553,138		PT Semen Gresik Persero Tbk		1,186
	601,457		PT Timah Tbk		16
	1,967,400		PT Waskita Beton Precast Tbk		16
	2,092,677		PTT Global Chemical PCL (Foreign)		1,926
	59,891		Qassim Cement Co		835
	3,866,419		Qatar Aluminum Manufacturing Co		556
	223,931		Qatar National Cement Co		209
	12,851		Quaker Chemical Corp		1,623
	153,065		Rain Commodities Ltd		113
	9,248		Rallis India Ltd		21
	6,321	*,e	Ramaco Resources, Inc		15
	686,652		Ramelius Resources Ltd		422
	52,250		Rayonier Advanced Materials, Inc		55
	76,842	e	Recticel S.A.		410
	671,828		Regis Resources Ltd		1,493
	191,074		Reliance Steel & Aluminum Co		16,736
	1,167,737		Rengo Co Ltd		9,077
	537,217	*	Resolute Mining Ltd		266
	88,408		Rhi Magnesita NV		2,232
	392,929		Rio Tinto Ltd		20,243
	1,663,786		Rio Tinto plc		76,272
	64,069		Rio Tinto plc (ADR)		2,919
	231,000		Rongsheng Petro Chemical Co Ltd		354
	222,930	*,e	Royal Bafokeng Platinum Ltd		304
	181,149		Royal Gold, Inc		15,889
	58,560		RPM International, Inc		3,484
	32,425	*	Ryerson Holding Corp		173
	10,481		Sa des Ciments Vicat		268
	332,703		Sahara International Petrochemical Co		1,081

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,219		Sakai Chemical Industry Co Ltd	$	103
	21,200		Sakata INX Corp		177
	20,272		Salzgitter AG.		239
	4,668		Samsung Fine Chemicals Co Ltd		118
	77,455		Sandfire Resources NL		155
	198,612	*,e	Sandstorm Gold Ltd		995
	124,300		Sansteel Minguang Co Ltd		139
	6,100		Sanyo Chemical Industries Ltd		222
	10,306		Sanyo Special Steel Co Ltd		92
	115,030	*	Sappi Ltd		136
	1,131,545	*	Saracen Mineral Holdings Ltd		2,545
	78,500		Satipel Industrial S.A.		141
	144,508		Saudi Arabian Fertilizer Co		2,371
	370,931	*	Saudi Arabian Mining Co		3,028
	678,024		Saudi Basic Industries Corp		12,548
	134,514		Saudi Cement Co		1,743
	206,579		Saudi Industrial Investment Group		865
	649,236	*	Saudi Kayan Petrochemical Co		1,240
	81,277	e	Scapa Group plc		111
	24,203		Schnitzer Steel Industries, Inc (Class A)		316
	48,964		Schweitzer-Mauduit International, Inc		1,362
	61,900		Scientex BHD		108
	87,664		Scotts Miracle-Gro Co (Class A)		8,977
	90,160	*	Seabridge Gold, Inc		841
	44,899		Seah Besteel Corp		275
	62,592		Sealed Air Corp		1,547
	10,227		Sekisui Plastics Co Ltd		53
	574,831	*	SEMAFO, Inc		1,115
	56,540		Semapa-Sociedade de Investimento e Gestao		482
	41,881		Sensient Technologies Corp		1,822
	10,012,130		Sesa Sterlite Ltd		8,489
	341,542		Severstal (GDR)		3,777
	162,700	*	Shandong Gold Mining Co Ltd		782
	87,000	*	Shandong Hualu Hengsheng Chemical Co Ltd		191
	813,700		Shandong Nanshan Aluminum Co Ltd		234
	36,400	*	Shandong Sinocera Functional Material Co Ltd		106
	107,900		Shandong Sun Paper Industry JSC Ltd		132
	78,100		Shanghai Chlor-Alkali Chemical Co Ltd		39
	299,000		Shanxi Taigang Stainless Steel Co Ltd		136
	91,000		Shenghe Resources Holding Co Ltd		88
	193,800		Shenzhen Zhongjin Lingnan Nonfemet Co Ltd		96
	134,014		Sherwin-Williams Co		61,582
	18,500		Shikoku Chemicals Corp		169
	411,725		Shin-Etsu Chemical Co Ltd		40,467
	142,600		Shin-Etsu Polymer Co Ltd		1,111
	3,513,032		Shinkong Synthetic Fibers Corp		1,159
	11,000		Shiny Chemical Industrial Co Ltd		31
	317,200	*	Shougang Concord International Enterprises Co Ltd		54
	96,980		Showa Denko KK		1,990
	11,287		Shree Cement Ltd		2,600
	669,825		Siam Cement PCL (Foreign)		6,572
	655,500	*	Sichuan Hebang Biotechnology Co Ltd		132
	315,844		SIG Combibloc Group AG.		4,719
	26,984		Sika AG.		4,431

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	217,174		Silgan Holdings, Inc	$	6,302
	268,000	*	Silver Grant International		36
	723,904	*	Silver Lake Resources Ltd		616
	195,893	e	Silvercorp Metals, Inc		642
	101,112	*	SilverCrest Metals, Inc		530
	89,383		Sims Group Ltd		333
	400,000		Sinofert Holdings Ltd		37
	3,340,924		Sinopec Shanghai Petrochemical Co Ltd		824
	790,600		Sinopec Shanghai Petrochemical Co Ltd (Class A)		433
	2,683		SK Chemicals Co Ltd		46
	1,643		SK Chemicals Co Ltd (New)		113
	61,350		SKC Co Ltd		1,859
	3,091		SKCKOLONPI, Inc		65
	450,543		Smurfit Kappa Group plc		12,763
	185,830		Sociedad Quimica y Minera de Chile S.A. (Class B)		4,229
	85,090		Soda Sanayii AS		66
	1,298		SODIFF Advanced Materials Co Ltd		142
	2,577,551	*,e	SolGold plc		528
	16,659	e	Solvay S.A.		1,201
	2,764		Songwon Industrial Co Ltd		21
	33,641		Sonoco Products Co		1,559
	4,748,750		South32 Ltd		5,242
	196,535		Southern Copper Corp (NY)		5,534
	18,670		Southern Province Cement Co		267
	32,912		SRF Ltd		1,207
	118,365	e	Ssab Svenskt Stal AB (Series A)		268
	1,011,919	e	Ssab Svenskt Stal AB (Series B)		2,208
	184,935	*	SSR Mining, Inc		2,109
	678,201		St Barbara Ltd		895
	331,523		Steel Dynamics, Inc		7,473
	40,175	e	Stelco Holdings, Inc		118
	5,200		Stella Chemifa Corp		115
	65,667	e	Stella-Jones, Inc		1,431
	27,483		Stepan Co		2,431
	5,221		STO AG.		478
	579,796	*	Stora Enso Oyj (R Shares)		5,797
	18,012		Sumitomo Bakelite Co Ltd		379
	1,505,032		Sumitomo Chemical Co Ltd		4,447
	221,884		Sumitomo Metal Mining Co Ltd		4,536
	31,037		Sumitomo Osaka Cement Co Ltd		924
	17,900		Sumitomo Seika Chemicals Co Ltd		439
	9,512	*	Sumitomo Titanium Corp		82
	680,104	*	Summit Materials, Inc		10,202
	481,819		SunCoke Energy, Inc		1,855
	57,970		Supreme Industries Ltd		661
	460,263		Suzano Papel e Celulose S.A.		3,170
	521,342	*,e	Svenska Cellulosa AB (B Shares)		5,159
	147,968		Symrise AG.		13,688
	7,768	*	Synalloy Corp		68
	15,600		T Hasegawa Co Ltd		294
	2,389,459		TA Chen Stainless Pipe		2,112
	79		Taekwang Industrial Co Ltd		41
	143,307		Taiheiyo Cement Corp		2,441

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,140,437		Taiwan Cement Corp	$	11,871
	210,000		Taiwan Fertilizer Co Ltd		288
	382,725		Taiwan Hon Chuan Enterprise Co Ltd		623
	3,850,329		Taiwan Styrene Monomer		1,736
	9,000		Taiyo Ink Manufacturing Co Ltd		337
	92,318		Taiyo Nippon Sanso Corp		1,366
	6,855		Takasago International Corp		127
	146,200		Takiron Co Ltd		808
	6,337	*	Tanaka Chemical Corp		32
	76,200	*	Tangshan Jidong Cement Co Ltd		208
	14,845	*	Tata Chemicals Ltd		58
	13,022		Tata Chemicals Ltd		38
	322,139		Tata Steel Ltd		1,142
	24,485		Tayca Corp		324
	52,724		Technosemichem Co Ltd		2,703
	918,606		Teck Cominco Ltd		6,965
	455,946		Teijin Ltd		7,712
	28,900		Tenma Corp		430
	133,312	*	Teranga Gold Corp		655
	27,423	*	Tessenderlo Chemie NV		769
	2,431,830	*,e	ThyssenKrupp AG.		12,809
	2,206,000		Tiangong International Co Ltd		766
	56,840		Tianqi Lithium Corp		146
	42,509	*	TimkenSteel Corp		137
	1,937,900		Tipco Asphalt PCL		1,004
	40,695	*	Titan Cement International S.A.		476
	44,703	*,e	TMAC Resources, Inc		15
	54,803		Toagosei Co Ltd		474
	16,124		Toho Titanium Co Ltd		96
	6,356	e	Toho Zinc Co Ltd		70
	123,929	e	Tokai Carbon Co Ltd		1,016
	4,400		Tokushu Tokai Holdings Co Ltd		174
	37,804		Tokuyama Corp		725
	17,603		Tokyo Ohka Kogyo Co Ltd		668
	1,207,088		Tokyo Steel Manufacturing Co Ltd		7,541
	145,750		Ton Yi Industrial Corp		38
	25,340	b	Tong Yang Major Corp		21
	85,400		Tongkun Group Co Ltd		140
	529,400		Tongling Nonferrous Metals Group Co Ltd		148
	5,940		Tongyang Cement & Energy Corp		12
	6,900		Topy Industries Ltd		87
	485,192		Toray Industries, Inc		2,100
	97,095	*	Torex Gold Resources, Inc		940
	384,972		Tosoh Corp		4,351
	17,400		Toyo Ink Manufacturing Co Ltd		328
	118,987		Toyo Seikan Kaisha Ltd		1,357
	62,567		Toyobo Co Ltd		660
	1,403,900		TPI Polene PCL		47
	216,400		Transfar Zhilian Co Ltd		186
	33,523	*	Trecora Resources		199
	24,624		Tredegar Corp		385
	39,430		Trinseo S.A.		714
	570,445	e	Tronox Holdings plc		2,841
	108,500	g	Tsaker Chemical Group Ltd		19

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	121,000		TSRC Corp	$	58
	59,811		Tubacex S.A.		84
	163,000		Tung Ho Steel Enterprise Corp		116
	910,264	*,e	Turquoise Hill Resources Ltd		356
	163,026		UBE Industries Ltd		2,487
	6,541	*	UFP Technologies, Inc		249
	136,149		Ultra Tech Cement Ltd		5,826
	35,103		Umicore S.A.		1,211
	10,650		Uniao de Industrias Petroquimicas S.A.		49
	15,338		Unid Co Ltd		428
	442,508		United Phosphorus Ltd		1,905
	2,948		United States Lime & Minerals, Inc		218
	258,941	e	United States Steel Corp		1,634
	2,594,135		UPC Technology Corp		680
	683,950	e	UPM-Kymmene Oyj		18,649
	29,817	*	US Concrete, Inc		541
	3,037,655		USI Corp		1,006
	3,139,343		Vale S.A.		26,112
	26,217		Valhi, Inc		27
	427,400		Valvoline, Inc		5,595
	65,362	*	Verso Corp		737
	945		Vetropack Holding AG.		2,483
	113,577		Victrex plc		2,744
	4,954		Vinati Organics Ltd		50
	997,500		Vinythai PCL (Foreign)		538
	113,324	e	Voestalpine AG.		2,286
	92,758		Vulcan Materials Co		10,024
	16,119		Wacker Chemie AG.		803
	187,700		Wanhua Chemical Group Co Ltd		1,081
	49,970	e	Warrior Met Coal, Inc		531
	23,500	*	Weihai Guangwei Composites Co Ltd		163
	160,022		Welspun-Gujarat Stahl Ltd		132
	156,070	*	Wesdome Gold Mines Ltd		820
	19,006,000		West China Cement Ltd		2,922
	54,792		West Fraser Timber Co Ltd		1,045
	1,254,945		Western Areas NL		1,489
	429,938	e	Western Forest Products, Inc		192
	700,925	*	Westgold Resources Ltd		815
	11,988		Westlake Chemical Corp		458
	381,888		WestRock Co		10,792
	503,494		Wheaton Precious Metals Corp		13,857
	2,616,831	e	Wienerberger AG.		40,882
	37,006		Winpak Ltd		1,144
	1,404		Wonik Materials Co Ltd		22
	38,258		Worthington Industries, Inc		1,004
	586,041		WR Grace and Co		20,863
	132,800		Xiamen Tungsten Co Ltd		210
	19,000		Xinjiang Zhongtai Chemical Co Ltd		13
	220,200		Xinxing Ductile Iron Pipes Co Ltd		106
	291,614	*	Yamama Cement Co		1,393
	2,674,956	e	Yamana Gold, Inc		7,432
	21,105		Yamato Kogyo Co Ltd		361
	68,093		Yanbu Cement Co		460

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	222,786		Yanbu National Petrochemical Co	$	2,453
	479,949		Yara International ASA		15,176
	774,100		Yeun Chyang Industrial Co Ltd		561
	201,220		Yieh Phui Enterprise		52
	105,500	*	Yintai Gold Co Ltd		213
	10,455		Yodogawa Steel Works Ltd		170
	1,671		Youlchon Chemical Co Ltd		17
	94		Young Poong Corp		37
	231,000	*,†,e	Youyuan International Holdings Ltd		0	^
	2,495,285		Yuen Foong Yu Paper Manufacturing Co Ltd		949
	176,298		Yule Catto & Co plc		532
	28,200	*	Yunnan Energy New Material Co Ltd		167
	145,600	*	Yunnan Tin Co Ltd		168
	9,114	*	Zaklady Azotowe w Tarnowie-Moscicach S.A.		45
	246,581		Zeon Corp		1,846
	935,500		Zhaojin Mining Industry Co Ltd		940
	56,053		Zhejiang Huayou Cobalt Co Ltd		229
	81,400		Zhejiang Jiahua Energy Chemical Industry Co Ltd		100
	141,200		Zhejiang Juhua Co Ltd		134
	142,400		Zhejiang Longsheng Group Co Ltd		237
	228,300		Zhongjin Gold Corp Ltd		258
	11,384		Zignago Vetro S.p.A.		137
	5,236,931		Zijin Mining Group Co Ltd		1,962
	1,184,600	*	Zijin Mining Group Co Ltd (Class A)		609
			TOTAL MATERIALS		3,531,173
MEDIA & ENTERTAINMENT - 6.8%
	59,500	*	58.COM, Inc (ADR)		2,899
	1,697,122	*	Activision Blizzard, Inc		100,945
	4,513		Addcn Technology Co Ltd		29
	123,790	*	Adevinta ASA		1,121
	1,677		AfreecaTV Co Ltd		72
	80,164	*	Aimia, Inc		120
	3,300	e	Akatsuki, Inc		110
	8,437,467	*,e	Alibaba Pictures Group Ltd		1,077
	603,008	*	Alphabet, Inc (Class A)		700,665
	918,318	*	Alphabet, Inc (Class C)		1,067,829
	1,037,739	*	Altice NV (Class A)		4,005
	711,800	*	Altice USA, Inc		15,866
	31,600	*,e	Amazia, Inc		1,141
	60,868	e	AMC Entertainment Holdings, Inc		192
	65,675	*	AMC Networks, Inc		1,597
	21,740		Amuse, Inc		456
	47,031		Antena 3 de Television S.A.		130
	697		APG SGA S.A.		129
	10,096	*	Arcutis Biotherapeutics, Inc		301
	951,106	*	Arnoldo Mondadori Editore S.p.A.		1,374
	718,171	e,g	Ascential plc		2,183
	5,800		Ateam, Inc		32
	3,114,619	g	Auto Trader Group plc		16,831
	36,833	*	Autohome, Inc (ADR)		2,616
	17,659		Avex Group Holdings, Inc		139
	443,229	*	Baidu, Inc (ADR)		44,673
	6,711	*	Baudax Bio, Inc		17

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,950	*	Beam Therapeutics, Inc	$	215
	259,300	*	BEC World PCL (Foreign)		25
	87,000		Beijing Enlight Media Co Ltd		108
	3,500	*,e	Bengo4.com, Inc		137
	5,500	*	Bitauto Holdings Ltd (ADR)		57
	11,709	*	Black Diamond Therapeutics, Inc		292
	1,506,845		Borussia Dortmund GmbH & Co KGaA		8,932
	10,165	*,e	Boston Omaha Corp		184
	121,823	*,e	BW Energy Ltd		106
	676		Cable One, Inc		1,111
	34,894	e	Cairo Communication S.p.A.		60
	92,547		Capcom Co Ltd		2,902
	41,774	*	Cardlytics, Inc		1,460
	219,167	*	Cargurus, Inc		4,151
	72,291	*	Cars.com, Inc		311
	155,606		carsales.com Ltd		1,118
	70,937		CD Projekt Red S.A.		4,886
	16,063	*	Central European Media Enterprises Ltd (Class A)		50
	220,731	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		691
	1,032,618	*	Central Retail Corp PCL		881
	3,600	e	Changyou.com Ltd (ADR)		39
	244,839	*	Charter Communications, Inc		106,826
	65,709		Cheil Communications, Inc		852
	161,865	*,†	Chennai Super Kings Cricket Ltd		30
	55,300		China Film Co Ltd		91
	158,600	*,g	China Literature Ltd		623
	69,100		China South Publishing & Media Group Co Ltd		103
	124,100		Chinese Universe Publishing and Media Group Co Ltd		209
	158,890		Cinemark Holdings, Inc		1,619
	72,115		Cineplex Galaxy Income Fund		600
	533,715		Cineworld Group plc		325
	29,000	*	CITIC Guoan Information Industry Co Ltd		13
	3,294	*	CJ CGV Co Ltd		47
	6,054		CJ Hellovision Co Ltd		15
	229,864	*	Clear Channel		147
	140,770		Cogeco Communications, Inc		9,550
	27,618		Cogeco, Inc		1,705
	82,108	*,e	COLOPL, Inc		606
	17,276		Com2uSCorp		1,191
	13,514,516		Comcast Corp (Class A)		464,629
	66,590	*	comScore, Inc		188
	2,118,849	*	Conyers Park II Acquisition Corp		22,364
	30,500	*	COOKPAD, Inc		84
	409,641		Corus Entertainment, Inc		731
	110,683		CTS Eventim AG.		5,065
	14,172	*	Cumulus Media Inc		77
	40,710		CyberAgent, Inc		1,578
	214,575		Cyfrowy Polsat S.A.		1,229
	20,831		Daiichikosho Co Ltd		557
	1,054	*,e	Daily Journal Corp		241
	81,796	e	Daily Mail & General Trust plc		681
	58,711	e	Dena Co Ltd		643

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	64,728	e	Dentsu, Inc	$	1,251
	56,634	*	DHI Group, Inc		122
	85,279		Dip Corp		1,370
	27,769	*,e	Discovery, Inc (Class A)		540
	39,312	*	Discovery, Inc (Class C)		690
	417,869	*	DISH Network Corp (Class A)		8,353
	482,227		Domain Holdings Australia Ltd		598
	1,694		Echo Marketing, Inc		34
	963,419	*	Electronic Arts, Inc		96,506
	185,003	*	Embracer Group AB		1,816
	744,960	e	Entercom Communications Corp (Class A)		1,274
	487,120		Entravision Communications Corp (Class A)		989
	85,583	*,e	Eros International plc		141
	56,662		Euromoney Institutional Investor plc		570
	298,521		Eutelsat Communications		3,103
	39,362	*,e	Eventbrite Inc		287
	54,405	*,e	EverQuote Inc		1,428
	85,565		EW Scripps Co (Class A)		645
	23,529		F@N Communications, Inc		91
	6,203,335	*	Facebook, Inc		1,034,716
	65,067	*	Fluent, Inc		76
	673,240		Focus Media Information Technology Co Ltd		415
	273,965		Fox Corp (Class A)		6,474
	244,708		Fox Corp (Class B)		5,599
	35,282	*	Frontier Developments plc		537
	369,360	e	Future plc		4,587
	10,000		Gakken Co Ltd		170
	176,399	*	Gannett Co, Inc		261
	3,600		G-bits Network Technology Xiamen Co Ltd		207
	230,806	*	GCI Liberty, Inc		13,149
	57,500		Giant Network Group Co Ltd		134
	235,000	*	Glory Sun Land Group Ltd		21
	201,652	*,e	Glu Mobile, Inc		1,268
	14,000		Gourmet Navigator, Inc		72
	143,151	*	Gray Television, Inc		1,537
	419,900		Gree, Inc		1,619
	1,998,727	e	Grupo Televisa S.A.		2,300
	1,037,800		Grupo Televisa SAB (ADR)		6,019
	31,483	*	GungHo Online Entertainment Inc		439
	263,137		Hakuhodo DY Holdings, Inc		2,655
	16,496	*	Hemisphere Media Group, Inc		141
	122,205	e	HT&E Ltd		86
	491,100	*,e	HUYA, Inc (ADR)		8,324
	10,610		Hyundai Hy Communications & Network Co		29
	418,595	*	IAC/InterActiveCorp		75,025
	92,158	*	IBN18 Broadcast Ltd		19
	3,384,000	e	IGG, Inc		2,003
	25,400	e,g	IMAX China Holding, Inc		39
	49,754	*	Imax Corp		450
	40,207		Info Edge India Ltd		1,083
	1,782,953		Informa plc		9,711
	10,617		Innocean Worldwide, Inc		460
	9,404		Inox Leisure Ltd		33
	93,000		International Games System Co Ltd		1,677

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	565,755		Interpublic Group of Cos, Inc	$	9,160
	51,581		IPSOS		1,070
	115,300	*,e	IQIYI, Inc (ADR)		2,052
	5,836		iShares MSCI Saudi Arabia ETF		140
	384,944		ITE Group plc		94
	4,056	*,e	Itokuro, Inc		48
	6,000,844		ITV plc		4,925
	137,969	e	JC Decaux S.A.		2,453
	1,088		Jcontentree Corp		23
	5,064		John Wiley & Sons, Inc (Class A)		190
	7,251	*	Just Dial Ltd		28
	269,338	*,e	Juventus Football Club S.p.A.		234
	5,273		JYP Entertainment Corp		76
	270,405		Kadokawa Dwango Corp		3,393
	346,980		Kakaku.com, Inc		6,346
	104,636		Kakao Corp		13,235
	126,500	*	Kamakura Shinsho Ltd		1,243
	1,144	*	KCC Glass Corp		17
	7,806		Kinepolis Group NV		284
	16,184	*,e	KLab, Inc		101
	69,571		Konami Corp		2,134
	5,410		KT Skylife Co Ltd		27
	27,178		Lagardere S.C.A.		338
	59,567	*	Lee Enterprises, Inc		59
	576,767	*,e	Leyou Technologies Holdings Ltd		169
	8,302	*	Liberty Braves Group (Class A)		162
	103,367	*	Liberty Braves Group (Class C)		1,970
	37,547	*	Liberty Broadband Corp (Class A)		4,018
	159,348	*	Liberty Broadband Corp (Class C)		17,643
	194,001	*	Liberty Global plc (Class A)		3,203
	305,680	*	Liberty Latin America Ltd (Class A)		3,216
	186,534	*	Liberty Latin America Ltd (Class C)		1,914
	56,592	*	Liberty Media Group (Class A)		1,461
	506,421	*	Liberty Media Group (Class C)		13,790
	128,693	*	Liberty SiriusXM Group (Class A)		4,078
	402,863	*	Liberty SiriusXM Group (Class C)		12,739
	479,093	*	Liberty TripAdvisor Holdings, Inc		862
	41,520	*,e	LINE Corp		2,005
	163,309	*,e	Lions Gate Entertainment Corp (Class A)		993
	494,027	*	Lions Gate Entertainment Corp (Class B)		2,757
	204,339	*	Live Nation, Inc		9,289
	51,128	*,e	LiveXLive Media, Inc		81
	16,995	*	Loral Space & Communications, Inc		276
	138,817	e	M6-Metropole Television		1,536
	64,023		Macromill, Inc		368
	27,851	*	Madison Square Garden Co		5,888
	83,614	*	Mail.Ru Group Ltd		1,358
	1,942,000		Major Cineplex Group PCL (Foreign)		794
	46,990	*	Mango Excellent Media Co Ltd		286
	35,506	*	Marchex, Inc (Class B)		51
	20,772		Marcus Corp		256
	15,658		Marvelous, Inc		78
	371,257	*,e	Match Group, Inc		24,518

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	54,762	*	MDC Partners, Inc	$	79
	1,097,224	e	Mediaset Espana Comunicacion SA		4,006
	183,843	*,e	Mediaset S.p.A.		389
	178,770	*	Meet Group, Inc		1,049
	312,000		Megacable Holdings SAB de C.V.		853
	58,930	e	Meredith Corp		720
	22,300		Mixi Inc		324
	662,000	e,g	Mobvista, Inc		319
	34,808	*	Modern Times Group AB (B Shares)		270
	254,800		Momo, Inc (ADR)		5,527
	43,368	*,e	MSG Networks, Inc		442
	11,500		MTI Ltd		58
	772,422	*	MultiChoice Group Ltd		3,671
	89,200	*	NanJi E-Commerce Co Ltd		145
	730		Nasmedia Co Ltd		15
	133,572		National CineMedia, Inc		435
	87,571		Naver Corp		12,175
	28,215		NCsoft		15,058
	948,500		NetDragon Websoft, Inc		2,266
	107,900		Netease.com (ADR)		34,632
	937,478	*	NetFlix, Inc		352,023
	19,258	*,e,g	Netmarble Corp		1,467
	4,180		New Work SE		880
	243,471		New York Times Co (Class A)		7,477
	50,932		News Corp (Class A)		457
	15,321		News Corp (Class B)		138
	463,078	*	Nexon Co Ltd		7,567
	67,790		Nexstar Media Group Inc		3,914
	31,108	*	Next Co Ltd		87
	2,725	*	NHN Entertainment Corp		152
	840,271		Nine Entertainment Co Holdings Ltd		589
	430,285	*	Ninety One plc		924
	201,331		Nintendo Co Ltd		78,248
	75,441		Nordic Entertainment Group AB		1,571
	325,000	e	NOVA Group Holdings Ltd		86
	118,450		Omnicom Group, Inc		6,503
	124,345	*,h	oOh!media Ltd		49
	124,345	e	oOh!media Ltd		49
	7,400	*	OPT, Inc		94
	16,433	e	Paradox Interactive AB		263
	5,565	*	Pearl Abyss Corp		812
	444,972		Pearson plc		3,046
	57,000		Perfect World Co Ltd		378
	250,000		Phoenix Media Investment Holdings Ltd		13
	396,000		Plan B Media PCL		35
	125,850	*,e	PR Times, Inc		1,902
	92,506	*	Promotora de Informaciones S.A.		60
	203,887		ProSiebenSat. Media AG.		1,600
	70,400		Proto Corp		559
	1,381,700	*	PT Global MediaCom Tbk		16
	43,778,900		PT Media Nusantara Citra Tbk		2,419
	997,534		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		3,331
	1,250,000		PT Surya Citra Media Tbk		59

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	82,061		Publicis Groupe S.A.	$	2,345
	30,101		PVR Ltd		471
	630,576		Quebecor, Inc		13,940
	84,195	*	QuinStreet, Inc		678
	11,400	*,e	Qutoutiao, Inc (ADR)		27
	93,355	g	RAI Way S.p.A		500
	43,530		REA Group Ltd		2,039
	16,305	*	Reading International, Inc		63
	45,679	*	REVOLUTION Medicines, Inc		1,001
	2,024,471		Rightmove plc		12,210
	152,577	*,e	Roku, Inc		13,347
	20,212	*	Rosetta Stone, Inc		283
	23,641	e,g	Rovio Entertainment Oyj		108
	7,253	*,e	RPA Holdings, Inc		50
	81,900		RS PCL		22
	2,854		Saga Communications, Inc		79
	78,645	e	Sanoma-WSOY Oyj		714
	1,036,546	g	Saudi Arabian Oil Co		8,318
	7,623	*	Saudi Research & Marketing Group		121
	81,797		Schibsted ASA (B Shares)		1,480
	29,011		Scholastic Corp		740
	288,575	g	Scout24 AG.		17,251
	202,869	*,e	Sea Ltd (ADR)		8,989
	1,000,000	*,e	Septeni Holdings Co Ltd		1,640
	339,078		SES Global S.A.		1,989
	185,370		Shanghai Oriental Pearl Group Co Ltd		227
	476,266		Shaw Communications, Inc (B Shares)		7,726
	4,701	e	Shochiku Co Ltd		526
	1,941,980	*	Sibanye Stillwater Ltd		2,451
	93,648	*	Sina Corp		2,982
	91,393		Sinclair Broadcast Group, Inc (Class A)		1,470
	1,609,263	e	Singapore Press Holdings Ltd		2,081
	2,154,208	e	Sirius XM Holdings, Inc		10,642
	194,284	*	Sky Network Television Ltd		32
	55,000		Sky Perfect Jsat Corp		197
	3,988	*	SM Entertainment Co		68
	617,600	*,†,e	SMI Holdings Group Ltd		1
	13,200		Smiles Fidelidade S.A.		31
	500,162	*	Snap, Inc		5,947
	312,649	e	Societe Television Francaise 1		1,699
	15,540		Soft-World International Corp		38
	6,100	*	Sohu.com Ltd (ADR)		38
	295,345	*,e	Solocal Group		73
	2,269,387	†	Southern Cross Media Group		239
	46,500	*,e	So-Young International, Inc (ADR)		476
	290,150	*	Spotify Technology S.A.		35,236
	91,300		Square Enix Co Ltd		4,079
	15,170	*	Stillfront Group AB		663
	72,602	*,e	Storytel AB		1,047
	96,068		Stroer Out-of-Home Media AG.		4,936
	620,549	*	Take-Two Interactive Software, Inc		73,603
	1,374		Tamedia AG.		97
	107,487	*	TechTarget, Inc		2,215

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,500		Tecmo Koei Holdings Co Ltd	$	604
	421,673		TEGNA, Inc		4,579
	97,760		Telenet Group Holding NV		2,936
	182,596		Television Broadcasts Ltd		226
	9,488,491		Tencent Holdings Ltd		468,993
	68,800	*	Tencent Music Entertainment (ADR)		692
	1,107,363	*,e	Thomson		264
	119,000	*,g	Tian GE Interactive Holdings Ltd		26
	4,400	e	Toei Animation Co Ltd		204
	13,984	e	Toei Co Ltd		1,751
	68,170		Toho Co Ltd		2,084
	18,500		Tokyo Broadcasting System, Inc		258
	5,507	*	Travelzoo, Inc		22
	55,556		Tribune Publishing Co		451
	174,976	e	TripAdvisor, Inc		3,043
	99,124	*	TrueCar, Inc		240
	207,713		TV Asahi Corp		3,148
	2,733,186	*,n	Twitter, Inc		67,127
	198,117	*	Ubisoft Entertainment		14,481
	112,834	*	United Malt Grp Ltd		305
	4,900	*,e	UUUM, Inc		93
	30,600		ValueCommerce Co Ltd		502
	14,335	*,e	Vector, Inc		86
	11,548		ViacomCBS, Inc (Class A)		206
	1,830,478		ViacomCBS, Inc (Class B)		25,645
	54,884		Village Roadshow Ltd		46
	626,717		Vivendi Universal S.A.		13,251
	5,337,035		Walt Disney Co		515,558
	86,500	*	Wanda Film Holding Co Ltd		190
	45,113	*	Webzen, Inc		465
	39,198	*,e	Weibo Corp (ADR)		1,298
	2,132		WeMade Entertainment Co Ltd		35
	484,350	*	West Australian Newspapers Holdings Ltd		24
	230,602	*	WideOpenWest, Inc		1,098
	25,800	*	Wise Talent Information Technology Co Ltd		52
	44,500		Workpoint Entertainment PCL		9
	86,626	e	World Wrestling Entertainment, Inc (Class A)		2,939
	2,600		Wowow, Inc		58
	710,696		WPP AUNZ Ltd		90
	2,088,936		WPP plc		14,203
	78,200		Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd		357
	2,059,201		Yahoo! Japan Corp		6,565
	67,839	*	Yelp, Inc		1,223
	2,097	*	YG Entertainment, Inc		41
	74,800	*	Youzu Interactive Co Ltd		196
	116,096	*	Zee Entertainment Enterprises Ltd		6
	620,779		ZEE Telefilms Ltd		1,010
	16,450		Zenrin Co Ltd		161
	28,900		ZIGExN Co Ltd		70
	84,290	*	Zillow Group, Inc (Class A)		2,863
	203,083	*,e	Zillow Group, Inc (Class C)		7,315
	1,465,669	*	Zynga, Inc		10,040
			TOTAL MEDIA & ENTERTAINMENT		6,065,011

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
PHARMACEUTICALS & BIOTECHNOLOGY - 0.0%
	10,000	*	Argenx SE	$	1,357
			TOTAL PHARMACEUTICALS & BIOTECHNOLOGY		1,357
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.8%
	920,000	*,g	3SBio, Inc		946
	2,808	*,e	89bio, Inc		71
	5,009,003		AbbVie, Inc		381,636
	205,040	e	Abcam plc		2,911
	70,048	*,e	Abeona Therapeutics, Inc		147
	5,242	*	ABLBio, Inc		72
	695,278	*	Acadia Pharmaceuticals, Inc		29,376
	27,046	*,e	Accelerate Diagnostics, Inc		225
	106,546	*	Acceleron Pharma, Inc		9,575
	72,838	*,e	AcelRx Pharmaceuticals, Inc		86
	5,327	*,e	Acer Therapeutics Inc		11
	42,770	*,e	Aclaris Therapeutics, Inc		44
	37,246	*,e	Acorda Therapeutics, Inc		35
	38,345	*,e	Adamas Pharmaceuticals, Inc		111
	102,358	*,e	Adaptive Biotechnologies Corp		2,844
	8,604		Adcock Ingram Holdings Ltd		21
	297,437	*,e	ADMA Biologics, Inc		857
	73,815	*	Aduro Biotech, Inc		202
	64,800	*	Adverum Biotechnologies, Inc		633
	47,107	*	Aeglea BioTherapeutics, Inc		220
	48,984	*,e	Aerie Pharmaceuticals, Inc		661
	402,771	*,e	Affimed NV		636
	147,167	*	Agenus, Inc		361
	21,414	*,e	AgeX Therapeutics, Inc		20
	44,979		Agilent Technologies, Inc		3,221
	135,018	*,e	Agios Pharmaceuticals, Inc		4,790
	45,377	*,e	Aimmune Therapeutics, Inc		654
	41,383		Ajanta Pharma Ltd		745
	24,868	*,e	Akcea Therapeutics, Inc		356
	374,761	*	Akebia Therapeutics, Inc		2,841
	8,153	*,e	Akero Therapeutics, Inc		173
	133,195	*	Akorn, Inc		75
	18,028	*	Albireo Pharma, Inc		295
	75,281	*,†,e	Alder Biopharmaceuticals Inc		66
	25,422	*	Aldeyra Therapeutics, Inc		63
	39,620	*,e	Alector, Inc		956
	56,231		Alembic Pharmaceuticals Ltd		393
	587,048	*,n	Alexion Pharmaceuticals, Inc		52,711
	3,415	*	ALK-Abello AS		762
	94,304	*	Alkermes plc		1,360
	19,143	*,e	Allakos, Inc		852
	356,170		Allergan plc		63,078
	217,879		Alliance Pharma plc		174
	38,996	*,e	Allogene Therapeutics, Inc		758
	233,755	*	Alnylam Pharmaceuticals, Inc		25,444
	1,977	*	Alteogen, Inc		131

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	140,191	*,e	AMAG Pharmaceuticals, Inc	$	866
	1,185,882		Amgen, Inc		240,414
	2,874	*	Amicogen, Inc		42
	1,140,204	*	Amicus Therapeutics, Inc		10,535
	209,827	*	Amneal Pharmaceuticals, Inc		730
	35,363	*,e	Amphastar Pharmaceuticals, Inc		525
	52,747	*,e	AnaptysBio, Inc		745
	89,525	*,e	Anavex Life Sciences Corp		282
	97,972	*,e	AnGes MG, Inc		624
	22,368	*	ANI Pharmaceuticals, Inc		911
	12,376	*	Anika Therapeutics, Inc		358
	1,008	*	Anterogen Co Ltd		31
	2,796,000	*,†	Anxin-China Holdings Ltd		4
	71,791	*	Apellis Pharmaceuticals, Inc		1,923
	451,556	*,e	Aphria, Inc		1,377
	16,389	*	Applied Therapeutics, Inc		536
	6,092	*	Aprea Therapeutics, Inc		212
	133,439	*	Arcus Biosciences, Inc		1,852
	114,646	*	Ardelyx, Inc		652
	186,953	*	Arena Pharmaceuticals, Inc		7,852
	49,972	*	Argenx SE		6,578
	185,976	*	Arrowhead Pharmaceuticals Inc		5,351
	35,992	*	Arvinas, Inc		1,450
	59,000	*,g	Ascletis Pharma, Inc		22
	11,928		ASKA Pharmaceutical Co Ltd		121
	507,326	*	Aspen Pharmacare Holdings Ltd		2,654
	170,532	*	Assembly Biosciences, Inc		2,529
	38,185	*	Assertio Therapeutics, Inc		25
	2,369,384		Astellas Pharma, Inc		36,506
	948		AstraZeneca Pharma India Ltd		30
	2,853,630		AstraZeneca plc		254,255
	962,402		AstraZeneca plc (ADR)		42,981
	15,300		Asymchem Laboratories Tianjin Co Ltd		367
	47,990	*	Atara Biotherapeutics, Inc		408
	5,358	*	ATGen Co Ltd		43
	121,312	*,e	Athenex, Inc		939
	331,686	*,e	Athersys, Inc		995
	30,952	*	Atreca, Inc		512
	91,481	*	Aurinia Pharmaceuticals, Inc		1,328
	285,755		Aurobindo Pharma Ltd		1,542
	1,593,614	*,e	Aurora Cannabis, Inc		1,427
	5,214,427	*,e	Avantor, Inc		65,128
	217,620	*	Avid Bioservices, Inc		1,112
	1,038,812	*	Avita Medical Ltd		314
	32,119	*	Avrobio, Inc		500
	8,150	*	Axcella Health, Inc		28
	39,089	*	Axsome Therapeutics, Inc		2,300
	6,012	e	Bachem Holding AG.		1,198
	5,856	*,e	Basilea Pharmaceutica		253
	546,745	*	Bausch Health Cos, Inc		8,473
	24,653	*,e	Bavarian Nordic AS		389
	579,893		Bayer AG.		33,227
	11,400	*	BeiGene Ltd (ADR)		1,403
	331,350		Beijing SL Pharmaceutical Co Ltd		554

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	102,784		Beijing Tiantan Biological Products Corp Ltd	$	523
	53,000		Beijing Tong Ren Tang Chinese Medicine Co Ltd		77
	74,100		Beijing Tongrentang Co Ltd		263
	30,400		Betta Pharmaceuticals Co Ltd		297
	14,160	*,e	Beyondspring Inc		181
	35,900	*	BGI Genomics Co Ltd		424
	5,567	*	Binex Co Ltd		49
	16,949	*,e,g	BioArctic AB		103
	427,643	*,e	BioCryst Pharmaceuticals, Inc		855
	490,959	*	BioDelivery Sciences International, Inc		1,861
	8,175		Biogaia AB (B Shares)		343
	301,023	*	Biogen, Inc		95,238
	63,935	*	Biohaven Pharmaceutical Holding Co Ltd		2,176
	521,904	*	BioMarin Pharmaceutical, Inc		44,101
	13,303	*	Bio-Rad Laboratories, Inc (Class A)		4,664
	9,851	*	Biospecifics Technologies Corp		557
	28,720		Biotage AB		286
	5,859		Bio-Techne Corp		1,111
	282,576	*	Biovitrum AB		4,694
	16,635	*,e	Bioxcel Therapeutics Inc		372
	172,152	*	Bluebird Bio, Inc		7,912
	78,374	*	Blueprint Medicines Corp		4,583
	2,236	e	Boiron S.A.		69
	267,583		Boryung Pharmaceutical Co Ltd		2,639
	76,113	*,e	Bridgebio Pharma, Inc		2,207
	5,066,650		Bristol-Myers Squibb Co		282,415
	179,416		Bruker BioSciences Corp		6,434
	9,167		Bukwang Pharmaceutical Co Ltd		190
	6,245	*	Cabaletta Bio, Inc		46
	142,288	*	Calithera Biosciences, Inc		632
	19,141	*,e	Calyxt, Inc		64
	11,379	*	Camurus AB		78
	211,512	*,e	Canopy Growth Corp (Toronto)		3,075
	11,200	*,g	CanSino Biologics, Inc		179
	3,725		Caplin Point Laboratories Ltd		14
	37,719	*,e	Cara Therapeutics, Inc		498
	227,961	*,e	CareDx, Inc		4,976
	2,389	†	Caregen Co Ltd		0
	51,843	*,e	CASI Pharmaceuticals, Inc		106
	24,525	*	Castle Biosciences, Inc		731
	66,506	*	Catalent, Inc		3,455
	101,297	*,e	Catalyst Pharmaceuticals, Inc		390
	9,820	*,e	cbdMD Inc		9
	5,191	*	Celcuity, Inc		34
	16,672	*	Cellectis S.A.		153
	3,090	*	Celltrion Pharm Inc		191
	59,866	*	Celltrion, Inc		11,135
	11,649	*,e	Cellular Biomedicine Group, Inc		184
	31,906	*,e	CEL-SCI Corp		368
	1,571,734		Center Laboratories, Inc		2,041
	2,335	*,e	Centogene NV		47
	35,395	*,e	Cerecor Inc		88

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,900	*	Changchun High & New Technology Industry Group, Inc	$	681
	96,035	*	Charles River Laboratories International, Inc		12,121
	69,615	*,e	Charlottes Web Holdings, Inc		301
	54,683	*	Checkpoint Therapeutics Inc		83
	151,861	*	ChemoCentryx, Inc		6,102
	38,700		Chengdu Kanghong Pharmaceutical Group Co Ltd		214
	29,965	*	Chiasma, Inc		109
	287,883	*	Chimerix, Inc		415
	10,235,300	*,†,e	China Animal Healthcare Ltd		13
	688,000	e	China Grand Pharmaceutical and Healthcare Holdings Ltd		404
	1,565,900		China Medical System Holdings Ltd		1,675
	120,400	*	China Resources Double Crane Pharmaceutical Co Ltd		213
	1,175,500	g	China Resources Pharmaceutical Group Ltd		702
	52,800		China Resources Sanjiu Medical & Pharmaceutical Co Ltd		205
	1,103,000		China Shineway Pharmaceutical Group Ltd		823
	26,576		Chong Kun Dang Pharm Corp		2,279
	11,254		Chong Kun Dang Pharmaceutical Corp		781
	78,900		Chongqing Zhifei Biological Products Co Ltd		748
	2,928		Choongwae Pharma Corp		74
	37,281	*,e	ChromaDex Corp		122
	291,233		Chugai Pharmaceutical Co Ltd		33,694
	250,540		Cipla Ltd		1,392
	90,070		Clinigen Group plc		604
	53,696	e	Clinuvel Pharmaceuticals Ltd		616
	156,013	*,e	Clovis Oncology, Inc		992
	24,049	*	CMG Pharmaceutical Co Ltd		72
	53,378		CMIC Co Ltd		708
	50,360	*,e	Codexis, Inc		562
	560,138	*	Coherus Biosciences, Inc		9,085
	56,207	*,e	Collegium Pharmaceutical, Inc		918
	74,088	*	Concert Pharmaceuticals, Inc		655
	30,881	*,e	Constellation Pharmaceuticals, Inc		971
	1,951,000		Consun Pharmaceutical Group Ltd		875
	64,122	*,e	Corbus Pharmaceuticals Holdings, Inc		336
	137,584	*,e	Corcept Therapeutics, Inc		1,636
	33,424	*,†,e	Corium International, Inc		6
	35,319	*,e	CorMedix Inc		127
	11,613	*,e	Cortexyme Inc		530
	3,955	*,e	COSMO Pharmaceuticals NV		258
	11,203	*,e	Crinetics Pharmaceuticals, Inc		165
	405,096	*,e	Cronos Group, Inc		2,300
	7,964	*	CrystalGenomics, Inc		109
	641,216		CSL Ltd		116,234
	3,333,961		CSPC Pharmaceutical Group Ltd		6,558
	130,000	*,g	CStone Pharmaceuticals		146
	25,646	*	Cue Biopharma, Inc		364
	77,031	*,e	Cymabay Therapeutics, Inc		114
	56,384	*,e	Cytokinetics, Inc		665
	223,921	*,e	CytomX Therapeutics, Inc		1,717
	2,454		Dae Hwa Pharmaceutical Co Ltd		18
	56,945		Daewon Pharmaceutical Co Ltd		660

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	149,382		Daewoong Co Ltd	$	1,361
	981		Daewoong Pharmaceutical Co Ltd		68
	2,232,277		Daiichi Sankyo Co Ltd		153,305
	1,345,000		Dawnrays Pharmaceutical Holdings Ltd		197
	19,702	*,e	DBV Technologies S.A.		156
	414,902		Dechra Pharmaceuticals plc		11,965
	31,000	*	Deciphera Pharmaceuticals, Inc		1,276
	103,204	*,e	Denali Therapeutics, Inc		1,807
	6,971		Dermapharm Holding SE		287
	225,624	*	Dicerna Pharmaceuticals, Inc		4,145
	145,650		Dishman Carbogen Amcis India Ltd		102
	70,515		Divi S Laboratories Ltd		1,840
	787		Dong-A Pharmaceutical Co Ltd		53
	1,063	*	Dong-A ST Co Ltd		70
	39,700		Dong-E-E-Jiao Co Ltd		143
	23,015		DongKook Pharmaceutical Co Ltd		1,460
	4,319	*	Dongsung Pharmaceutical Co Ltd		38
	325,723		Dr Reddy’s Laboratories Ltd		13,261
	4,136		Dr Reddys Laboratories Ltd (ADR)		167
	78,053	*,e	Dynavax Technologies Corp		276
	8,345	*	Eagle Pharmaceuticals, Inc		384
	65,790	*	Ecofibre Ltd		73
	166,132	*,e	Editas Medicine, Inc		3,294
	11,339	*,e	Eidos Therapeutics, Inc		556
	23,791	*	Eiger BioPharmaceuticals, Inc		162
	669,090		Eisai Co Ltd		48,942
	644,721	*	Elanco Animal Health, Inc		14,435
	1,481,991		Eli Lilly & Co		205,582
	47,470	*,e	Eloxx Pharmaceuticals, Inc		93
	106,232	*	Emergent Biosolutions, Inc		6,147
	42,584	*	Enanta Pharmaceuticals, Inc		2,190
	450,119	*	Endo International plc		1,665
	4,677	*,e	Enochian Biosciences Inc		14
	1,328	*	Enzychem Lifesciences Corp		62
	118,948	*	Epizyme, Inc		1,845
	16,000		EPS Co Ltd		166
	32,169	g	Eris Lifesciences Ltd		156
	97,610	*,e	Esperion Thereapeutics, Inc		3,078
	59,000		Essex Bio-technology Ltd		33
	10,876	e	Eurofins Scientific		5,307
	651	*	Eutilex Co Ltd		38
	17,586	*,e	Evelo Biosciences, Inc		66
	14,420	*,e	Evofem Biosciences Inc		77
	25,551	*,e	Evolus, Inc		106
	107,639	*,e	Evotec AG.		2,337
	236,222	*,e	Exact Sciences Corp		13,701
	528,326	*	Exelixis, Inc		9,098
	63,657	*,e	EyePoint Pharmaceuticals Inc		65
	1,010,134		Faes Farma S.A. (Sigma)		3,888
	110,992	*	Fate Therapeutics, Inc		2,465
	50,539		FDC Ltd		130
	204,247	*	FibroGen, Inc		7,098
	46,140	*	Five Prime Therapeutics, Inc		105

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	121,203	*,e	Flexion Therapeutics, Inc	$	954
	226,866	*	Fluidigm Corp		576
	68,588	*	Forty Seven, Inc		6,545
	5,452	*	Frequency Therapeutics, Inc		97
	6,600		Fuji Pharma Co Ltd		74
	15,807	*	Fulcrum Therapeutics, Inc		189
	35,231	*	G1 Therapeutics, Inc		388
	136,175	*	Galapagos NV		27,184
	57,640	*,e	Galectin Therapeutics, Inc		113
	1,613	*	Galera Therapeutics, Inc		15
	3,211	*	Genexine Co Ltd		157
	18,664	*,e	Genfit		279
	113,648	*	Genmab AS		22,828
	1,376,200	*,e	Genomma Lab Internacional S.A. de C.V.		1,095
	886,000	*,e	Genscript Biotech Corp		1,418
	91,764		Genus plc		3,708
	172,866	*,e	Geron Corp		206
	70,745		Gerresheimer AG.		4,461
	4,325,173		Gilead Sciences, Inc		323,350
	4,283,129		GlaxoSmithKline plc		80,369
	459,613		GlaxoSmithKline plc (ADR)		17,415
	104,638		Glenmark Pharmaceuticals Ltd		284
	62,763	*	Global Blood Therapeutics, Inc		3,207
	33,987	*	GlycoMimetics, Inc		77
	63,301	*	GNI Group Ltd		747
	56,365	*	Gossamer Bio, Inc		572
	196,455		Granules India Ltd		366
	1,376		Green Cross Cell Corp		43
	1,198		Green Cross Corp		134
	4,390		Green Cross Holdings Corp		72
	1,111		Green Cross LabCell Corp		33
	332,566	e	Grifols S.A.		11,127
	25,250	*,e	Gritstone Oncology, Inc		147
	4,430	*	G-treeBNT Co Ltd		70
	60,700		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		267
	214,100		Guizhou Bailing Group Pharmaceutical Co Ltd		249
	8	*	GW Pharmaceuticals plc		0	^
	76,522	*,e	GW Pharmaceuticals plc (ADR)		6,701
	47,360		H Lundbeck AS		1,391
	488,762	*	Halozyme Therapeutics, Inc		8,793
	6,032	*	Han All Pharmarceutical Co		115
	1,687		Handok Pharmaceuticals Co Ltd		29
	244,932		Hangzhou Tigermed Consulting Co Ltd		2,193
	31,462		Hanmi Pharm Co Ltd		6,702
	16,636	*,e	Hansa Medical AB		129
	408,000	*,g	Hansoh Pharmaceutical Group Co Ltd		1,363
	36,483	*	Harpoon Therapeutics, Inc		422
	9,500	*	HEALIOS KK		133
	240,810	*	Heron Therapeutics, Inc		2,827
	816,134	*,e	HEXO Corp		667
	424,323		Hikma Pharmaceuticals plc		10,670
	35,459		Hisamitsu Pharmaceutical Co, Inc		1,645
	24,616	*	Homology Medicines, Inc		383

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,511	*,e	Hookipa Pharma, Inc	$	235
	733,004	*	Horizon Therapeutics Plc		21,712
	2,548,684	*,†,e	Hua Han Bio-Pharmaceutical Holdings Ltd		20
	124,152	*	Hualan Biological Engineering, Inc		832
	78,100	*	Hubei Jumpcan Pharmaceutical Co Ltd		240
	730	*	Hugel, Inc		201
	8,511		Huons Co Ltd		315
	132,100	*	Hutchison China MediTech Ltd (ADR)		2,358
	256,017		Hypermarcas S.A.		1,409
	92,875	*	Idorsia Ltd		2,400
	5,394	*	IGM Biosciences, Inc		303
	97,194		Il Dong Pharmaceutical Co Ltd		996
	344,368	*	Illumina, Inc		94,054
	3,131		Ilyang Pharmaceutical Co Ltd		106
	763,871	*	Immunogen, Inc		2,605
	198,819	*	Immunomedics, Inc		2,680
	408,905	*	Incyte Corp		29,944
	379,285	*	Indivior plc		215
	286,312	*,e	Innate Pharma S.A.		1,879
	838,500	*,g	Innovent Biologics, Inc		3,499
	325,897	*	Innoviva, Inc		3,833
	211,169	*,e	Inovio Pharmaceuticals, Inc		1,571
	155,711	*,e	Insmed, Inc		2,496
	85,225	*,e	Intellia Therapeutics, Inc		1,042
	29,404	*,e	Intercept Pharmaceuticals, Inc		1,851
	120,227	*	Intersect ENT, Inc		1,425
	97,736	*	Intra-Cellular Therapies, Inc		1,502
	4,437	*	iNtRON Biotechnology, Inc		47
	243,405	*,e	Invitae Corp		3,327
	201,871	*	Ionis Pharmaceuticals, Inc		9,544
	168,976	*	Iovance Biotherapeutics, Inc		5,058
	54,370		Ipca Laboratories Ltd		986
	12,132		Ipsen		622
	618,838	*	IQVIA Holdings, Inc		66,748
	154,962	*,e	Ironwood Pharmaceuticals, Inc		1,564
	7,100	*,e	Japan Tissue Engineering Co Lt		38
	696,236	*	Jazz Pharmaceuticals plc		69,443
	7,286		JCR Pharmaceuticals Co Ltd		632
	1,052		Jeil Pharmaceutical Co Ltd		20
	449,404	*	Jiangsu Hengrui Medicine Co Ltd		5,769
	67,100		Jilin Aodong Pharmaceutical Group Co Ltd		148
	135,400	*	Jinyu Bio-Technology Co Ltd		403
	5,632,944		Johnson & Johnson		738,648
	126,000		Joincare Pharmaceutical Group Industry Co Ltd		201
	22,044	*,e	Jounce Therapeutics, Inc		105
	253,455		Jubilant Organosys Ltd		828
	169,573		JW Holdings Corp		672
	159,192	*	Kadmon Holdings, Inc		667
	62,504		Kaken Pharmaceutical Co Ltd		2,914
	24,861	*,e	Kala Pharmaceuticals, Inc		219
	10,772	*,e	Kaleido Biosciences Inc		66
	23,683	*	KalVista Pharmaceuticals Inc		181
	40,815	*,e	Karo Pharma AB		187

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,735	*,e	Karuna Therapeutics, Inc	$	845
	90,735	*	Karyopharm Therapeutics, Inc		1,743
	59,548	*	Kezar Life Sciences, Inc		260
	33,191	*	Kindred Biosciences, Inc		133
	53,695	*,e	Kiniksa Pharmaceuticals Ltd		831
	13,400		Kissei Pharmaceutical Co Ltd		344
	123,289	*	Knight Therapeutics, Inc		543
	55,298	*,e	Kodiak Sciences, Inc		2,638
	8,150	*,e	Komipharm International Co Ltd		175
	61,817		Korea United Pharm Inc		1,000
	10,893	*,e	Krystal Biotech Inc		471
	56,807	*	Kura Oncology, Inc		565
	6,342		Kwang Dong Pharmaceutical Co Ltd		29
	73,835		Kyorin Co Ltd		1,508
	86,370		Kyowa Hakko Kogyo Co Ltd		1,930
	25,611	*,e	La Jolla Pharmaceutical Co		108
	31,678		Laboratorios Almirall S.A.		366
	32,263	*,e	Lannett Co, Inc		224
	6,474	g	Laurus Labs Ltd		28
	48,000	e	Lee’s Pharmaceutical Holdings Ltd		22
	1,518	*	LegoChem Biosciences, Inc		59
	43,240	*,e	Lexicon Pharmaceuticals, Inc		84
	56,218	*,e	Ligand Pharmaceuticals, Inc (Class B)		4,088
	101,364	*,e	Lineage Cell Therapeutics, Inc		84
	13,811	*	Liquidia Technologies, Inc		65
	59,300	*	Livzon Pharmaceutical Group, Inc		325
	8,378	*,e	LogicBio Therapeutics, Inc		41
	430,559		Lonza Group AG.		177,099
	17,000	*	Lotus Pharmaceutical Co Ltd		34
	41,517		Luminex Corp		1,143
	152,020		Lupin Ltd		1,181
	808,500	g	Luye Pharma Group Ltd		390
	125,393	*	MacroGenics, Inc		730
	8,767	*,e	Madrigal Pharmaceuticals, Inc		585
	19,740	*	Magenta Therapeutics, Inc		124
	188,385	*,e	MannKind Corp		194
	89,663	*,e	Marinus Pharmaceuticals, Inc		182
	51,147	*,e	Marker Therapeutics Inc		97
	8,348,642	*	Mayne Pharma Group Ltd		1,595
	42,385	*,e	MediciNova, Inc		158
	134,010	*,e	MediPharm Labs Corp		151
	80,563	*	Medpace Holdings, Inc		5,912
	3,698		Medy-Tox, Inc		588
	71,000		Mega Lifesciences PCL		48
	100,694	*	MEI Pharma, Inc		162
	35,103	*	MeiraGTx Holdings plc		472
	54,097	*,e	Menlo Therapeutics, Inc		145
	6,665,667		Merck & Co, Inc		512,856
	58,723		Merck KGaA		5,929
	786		Merck Ltd		37
	96,500	*	Mersana Therapeutics, Inc		563
	880,563	*,e	Mesoblast Ltd		730
	40,341	*	Mettler-Toledo International, Inc		27,856
	1,372	*	Mezzion Pharma Co Ltd		143

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,515	*	Millendo Therapeutics Inc	$	71
	71,504	*	Minerva Neurosciences, Inc		430
	47,254	*	Mirati Therapeutics, Inc		3,632
	9,911	*,e	Mirum Pharmaceuticals, Inc		139
	31,824	*,e	Mithra Pharmaceuticals S.A.		768
	12,775		Mochida Pharmaceutical Co Ltd		493
	345,982	*,e	Moderna, Inc		10,362
	13,005	*	Molecular Partners AG.		239
	43,287	*	Molecular Templates, Inc		575
	270,341	*	Momenta Pharmaceuticals, Inc		7,353
	10,421	*,e	Morphic Holding, Inc		153
	41,260	*	Morphosys AG.		3,973
	35,005	*	Mustang Bio, Inc		94
	80,839	*	Mylan NV		1,205
	51,928	*	MyoKardia, Inc		2,434
	70,472	*	Myriad Genetics, Inc		1,008
	48,600		Nanjing King-Friend Biochemical Pharmaceutical Co Ltd		343
	171,515	*,e	NanoString Technologies, Inc		4,125
	102,317		Natco Pharma Ltd		677
	308,054	*	Natera, Inc		9,198
	247,675	*,e	Nektar Therapeutics		4,421
	402,116	*	NeoGenomics, Inc		11,102
	19,074	*,e	Neon Therapeutics, Inc		50
	269,687	*	Neurocrine Biosciences, Inc		23,341
	38,780	*,e	NextCure Inc		1,438
	42,683	*,e	NGM Biopharmaceuticals Inc		526
	25,902		Nichi-iko Pharmaceutical Co Ltd		343
	43,500		Nippon Shinyaku Co Ltd		3,406
	2,264,084		Novartis AG.		186,784
	82,254	*,e	Novavax, Inc		1,117
	4,002,199		Novo Nordisk AS		238,995
	25,963	*	OBI Pharma, Inc		59
	45,508	*,e	Ocular Therapeutix, Inc		225
	9,356	*	Odonate Therapeutics, Inc		258
	51,301	*,e	Omeros Corp		686
	50,062	*,e	Oncocyte Corp		123
	15,387	*,e,g	Oncopeptides AB		169
	146,020		Ono Pharmaceutical Co Ltd		3,356
	446,302	*,e	Opko Health, Inc		598
	34,657	*,e	Optinose, Inc		156
	470,825	*,e	Organigram Holdings, Inc		950
	10,612	*	Organogenesis Holdings Inc		34
	96,157	*,e	Orion Oyj (Class B)		3,913
	4,116	*	Oscotec, Inc		73
	127,880		Otsuka Holdings KK		4,990
	27,895	*,e	Oxford Biomedica plc		182
	5,336	*	Oyster Point Pharma, Inc		187
	141,730	*	Pacific Biosciences of California, Inc		434
	228,123	*	Pacira BioSciences Inc		7,649
	2,310,246	*	Paion AG.		4,130
	185,682	*,e	Palatin Technologies, Inc		79
	109,529	*,e	Paratek Pharmaceuticals, Inc		345

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	105,543	*	PDL BioPharma, Inc	$	298
	38,000	*	PeptiDream, Inc		1,323
	19,431		PerkinElmer, Inc		1,463
	553,216		Perrigo Co plc		26,604
	18,328	*,e	Personalis, Inc		148
	93,564	*	Pfenex, Inc		825
	10,319		Pfizer Ltd		544
	16,647,057		Pfizer, Inc		543,360
	163,064	*,e	Pharma Mar S.A.		768
	877		PHARMA RESEARCH PRODUCTS Co Ltd		28
	1,111	*	PharmAbcine		25
	20,472		PharmaEngine Inc		29
	33,000	*	PharmaEssentia Corp		73
	14,951		Pharmally International Holding Co Ltd		72
	11,265	*	Pharmicell Co Ltd		188
	687,513	*,e	Pharming Group NV		730
	21,393	*,e	PhaseBio Pharmaceuticals Inc		71
	10,211	*	Phathom Pharmaceuticals, Inc		264
	133,984		Phibro Animal Health Corp		3,238
	46,228	*	Pieris Pharmaceuticals, Inc		105
	939,055		Piramal Healthcare Ltd		11,565
	39,712	*,e	PolarityTE, Inc		43
	73,852	*,e	Portola Pharmaceuticals, Inc		527
	203,076	*	PRA Health Sciences, Inc		16,863
	78,495	*	Precision BioSciences Inc		473
	50,018	*	Prestige Consumer Healthcare, Inc.		1,835
	21,251	*	Prevail Therapeutics, Inc		259
	96,019	*	Principia Biopharma, Inc		5,702
	82,944	*	Progenics Pharmaceuticals, Inc		315
	21,328	*	Protagonist Therapeutics, Inc		151
	166,929	*	Prothena Corp plc		1,786
	33,400,431		PT Kalbe Farma Tbk		2,449
	148,848	*	PTC Therapeutics, Inc		6,640
	154,295	*,e	Puma Biotechnology, Inc		1,302
	26,906	*	QIAGEN NV		1,119
	40,072	*	QIAGEN NV (Turquoise)		1,618
	65,928	*,e	Quanterix Corp		1,211
	34,503	*,e	Ra Pharmaceuticals, Inc		1,656
	147,446	*	Radius Health, Inc		1,917
	1,497	*	RAPT Therapeutics, Inc		32
	77,170	*	Reata Pharmaceuticals, Inc		11,139
	152,376		Recipharm AB		1,541
	81,073		Recordati S.p.A.		3,416
	32,624	*	Recro Pharma, Inc		267
	363,961	*	Regeneron Pharmaceuticals, Inc		177,719
	33,499	*	REGENXBIO, Inc		1,085
	168,180	*	Repligen Corp		16,236
	66,528	*	Replimune Group, Inc		663
	39,176	*	Retrophin, Inc		572
	50,217	*,e	Revance Therapeutics, Inc		743
	34,750	*,e	Rhythm Pharmaceuticals, Inc		529
	115,650		Richter Gedeon Rt		2,181
	160,782	*,e	Rigel Pharmaceuticals, Inc		251
	1,218,328		Roche Holding AG.		391,987

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,557	*,e	Rocket Pharmaceuticals, Inc	$	440
	32,455	*,e	Rubius Therapeutics, Inc		144
	156,970	*	Sage Therapeutics, Inc		4,508
	2,769		Sam Chun Dang Pharm Co Ltd		72
	1,618		Samjin Pharmaceutical Co Ltd		29
	54,901	*,g	Samsung Biologics Co Ltd		21,518
	26,224	*,e	SanBio Co Ltd		280
	110,014	*,e	Sangamo Therapeutics Inc		701
	5,205		Sanofi India Ltd		427
	1,916,718		Sanofi-Aventis		165,939
	166,478		Sanofi-Aventis S.A. (ADR)		7,278
	284,530		Santen Pharmaceutical Co Ltd		4,883
	135,677	*	Sarepta Therapeutics, Inc		13,272
	67,022	*	Sartorius Stedim Biotech		13,375
	6,312	*	Satsuma Pharmaceuticals, Inc		136
	12,763		Saudi Pharmaceutical Industries & Medical Appliances Corp		92
	72,402		Sawai Pharmaceutical Co Ltd		3,879
	22,618	*	Scholar Rock Holding Corp		274
	53,960		Scinopharm Taiwan Ltd		46
	21,195		Searle Co Ltd		20
	335,981	*	Seattle Genetics, Inc		38,765
	3,821		Seegene, Inc		349
	19,400		Seikagaku Corp		201
	129,184	*,e	Seres Therapeutics, Inc		461
	73,800		Shandong Buchang Pharmaceuticals Co Ltd		208
	106,100		Shanghai Fosun Pharmaceutical Group Co Ltd		486
	408,251	e	Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		1,324
	55,000		Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		33
	87,300		Shanghai Haixin Group Co		31
	98,700	*,g	Shanghai Haohai Biological Technology Co Ltd		367
	388,800	*	Shanghai RAAS Blood Products Co Ltd		420
	88,200		Shenzhen Hepalink Pharmaceutical Group Co Ltd		253
	54,000		Shenzhen Kangtai Biological Products Co Ltd		863
	71,300		Shenzhen Salubris Pharmaceuticals Co Ltd		177
	122,000		Shijiazhuang Yiling Pharmaceutical Co Ltd		383
	5,946		Shilpa Medicare Ltd		19
	94,916		Shionogi & Co Ltd		4,676
	152,400		Sichuan Kelun Pharmaceutical Co Ltd		440
	3,805	e	Siegfried Holding AG.		1,531
	55,133	*	SIGA Technologies, Inc		264
	868,000		Sihuan Pharmaceutical Holdings		86
	13,434	*,e	SillaJen, Inc		144
	6,119,807		Sino Biopharmaceutical		7,987
	19,684	*,e	Solid Biosciences, Inc		47
	139,583	*,e	Sorrento Therapeutics, Inc		257
	53,208	*,e	Sosei Group		633
	106,325	*	Spectrum Pharmaceuticals, Inc		248
	25,001	*	Spero Therapeutics, Inc		202
	11,174	*,e	SpringWorks Therapeutics, Inc		302
	1,312,000		SSY Group Ltd		1,017
	1,728	*	ST Pharm Co Ltd		44

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,375	*	STCUBE	$	46
	46,516	*	Stemline Therapeutics, Inc		225
	16,497	*,e	Stoke Therapeutics, Inc		378
	242,668		Strides Arcolab Ltd		1,030
	123,579	*	Strongbridge Biopharma plc		234
	65,538		Sumitomo Dainippon Pharma Co Ltd		851
	12,887	*	Sun Pharma Advanced Research Company Ltd		16
	676,913		Sun Pharmaceutical Industries Ltd		3,127
	162,839	*	Supernus Pharmaceuticals, Inc		2,929
	23,486	*	Sutro Biopharma, Inc		240
	123,000	*	Suven Life Sciences Ltd		35
	22,236	*	Syndax Pharmaceuticals, Inc		244
	166,116	*	Syneos Health, Inc		6,548
	19,763	g	Syngene International Ltd		62
	26,664	*,e	Synlogic, Inc		46
	45,589	*	Syros Pharmaceuticals, Inc		270
	57,799	*	Taigen Biopharmaceuticals Holdings Ltd		22
	37,000	*	TaiMed Biologics, Inc		81
	21,622		Taisho Pharmaceutical Holdings Co Ltd		1,327
	73,646	e	Takara Bio, Inc		1,520
	866,999		Takeda Pharmaceutical Co Ltd		26,398
	16,124	*	Tanvex BioPharma, Inc		16
	64,200		Tasly Pharmaceutical Group Co Ltd		124
	11,858	*,e	TCR2 Therapeutics Inc		92
	9,400		Tecan Group AG.		2,815
	927	*	Tego Science, Inc		11
	294,830	*	Teva Pharmaceutical Industries Ltd (ADR)		2,648
	255,574	*,e	TG Therapeutics, Inc		2,515
	6,237	*	Theragen Etex Co Ltd		39
	221,211	*,e	TherapeuticsMD, Inc		234
	89,594	*,e	Theratechnologies, Inc		146
	83,780	*	Theravance Biopharma, Inc		1,936
	788,876		Thermo Fisher Scientific, Inc		223,725
	41,370	*	Tocagen, Inc		50
	212,000		Tong Ren Tang Technologies Co Ltd		168
	95,300		Tonghua Dongbao Pharmaceutical Co Ltd		141
	83,465		Torii Pharmaceutical Co Ltd		2,090
	108,400		Towa Pharmaceutical Co Ltd		2,266
	43,270	*,e	Translate Bio, Inc		431
	31,152	*	Tricida, Inc		685
	38,600		Tsumura & Co		984
	77,917		TTY Biopharm Co Ltd		159
	33,773	*,e	Turning Point Therapeutics Inc		1,508
	50,478	*,e	Twist Bioscience Corp		1,544
	82,532	*,e	Tyme Technologies, Inc		91
	130,154		UCB S.A.		11,136
	96,338	*	Ultragenyx Pharmaceutical, Inc		4,280
	4,018,680	e	United Laboratories Ltd		3,208
	119,371	*	United Therapeutics Corp		11,319
	26,076	*,e	UNITY Biotechnology, Inc		151
	66,455	*,e	UroGen Pharma Ltd		1,186
	171,147	*	Vanda Pharmaceuticals, Inc		1,773
	309,805	*,e	VBI Vaccines, Inc		294
	1,608,141		Vectura Group plc		1,938

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	266,560	*	Veracyte, Inc	$	6,480
	269,141	*	Vericel Corp		2,468
	29,221	*	Verrica Pharmaceuticals, Inc		319
	645,906	*	Vertex Pharmaceuticals, Inc		153,693
	7,915	*	Viela Bio, Inc		301
	120,013		Vifor Pharma AG.		16,419
	63,461	*,e	Viking Therapeutics, Inc		297
	7,592	*	Vir Biotechnology, Inc		260
	12,572	*	Virbac S.A.		2,209
	15,271	*,e	ViroMed Co Ltd		851
	173,906		Vitrolife AB		2,497
	74,801	*	Voyager Therapeutics, Inc		684
	107,500		Walvax Biotechnology Co Ltd		476
	11,785	*	Waters Corp		2,145
	22,139	*,e	WaVe Life Sciences Ltd		207
	52,964		Whanin Pharmaceutical Co Ltd		636
	2,306,000		Winteam Pharmaceutical Group Ltd		1,040
	6,426	*	Wockhardt Ltd		15
	85,500		WuXi AppTec Co Ltd		1,078
	822,559	g	WuXi AppTec Co Ltd (Hong Kong)		9,999
	2,680,551	*,g	Wuxi Biologics Cayman, Inc		34,222
	24,053	*,e	X4 Pharmaceuticals, Inc		241
	12,783	*,e	XBiotech, Inc		136
	123,085	*	Xencor, Inc		3,678
	49,610	*	Xeris Pharmaceuticals, Inc		97
	942,800	g	YiChang HEC ChangJiang Pharmaceutical Co Ltd		4,411
	111,900		Yifan Pharmaceutical Co Ltd		255
	34,542	*	Y-mAbs Therapeutics, Inc		902
	7,288		Yuhan Corp		1,364
	19,255	*	Yungjin Pharmaceutical Co Ltd		76
	304,000		YungShin Global Holding Corp		444
	56,900		Yunnan Baiyao Group Co Ltd		682
	35,800	*	Zai Lab Ltd (ADR)		1,843
	13,935	*,e	Zealand Pharma AS		469
	14,100		Zeria Pharmaceutical Co Ltd		272
	40,200		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		698
	183,000		Zhejiang Conba Pharmaceutical Co Ltd		131
	86,800	*	Zhejiang Huahai Pharmaceutical Co Ltd		311
	127,900		Zhejiang NHU Co Ltd		487
	39,200	*	Zhejiang Wolwo Bio-Pharmaceutical Co Ltd		243
	179,992	*,e	ZIOPHARM Oncology, Inc		441
	1,723,978		Zoetis, Inc		202,895
	155,916	*	Zogenix, Inc		3,856
	22,300	*,e	Zymeworks, Inc		791
	21,189	*,e	Zynerba Pharmaceuticals, Inc		81
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		7,845,271
REAL ESTATE - 3.7%
	217,573		Abacus Property Group		312
	129,974		Acadia Realty Trust		1,610
	960		Activia Properties Inc		3,116
	32,137	g	ADO Properties S.A.		725
	1,362		Advance Residence Investment Corp		3,958

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	312,406	*,g	Aedas Homes SAU	$	5,967
	43,097	e	Aedifica S.A.		4,474
	5,954		Aeon Mall Co Ltd		75
	4,666		AEON REIT Investment Corp		4,485
	12,122	*	Africa Israel Properties Ltd		305
	1,254,000		Agile Property Holdings Ltd		1,343
	147,919		Agree Realty Corp		9,156
	37,546	*	Airport City Ltd		546
	3,257,986		Aldar Properties PJSC		1,344
	437,768		Alexander & Baldwin, Inc		4,912
	2,152		Alexander’s, Inc		594
	190,540		Alexandria Real Estate Equities, Inc		26,115
	27,710		Aliansce Sonae Shopping Centers sa		142
	352,149		Allco Commercial Real Estate Investment Trust		292
	101,170		Allied Properties Real Estate Investment Trust		3,216
	12,453		Allreal Holding AG.		2,312
	137,966		Alony Hetz Properties & Investments Ltd		1,585
	477,772		Alstria Office REIT-AG.		6,856
	6,044	*,e	Altisource Portfolio Solutions S.A.		46
	45,448		Altus Group Ltd		1,179
	164,300		Amata Corp PCL (Foreign)		49
	101,859		American Assets Trust, Inc		2,546
	252,594		American Campus Communities, Inc		7,009
	106,915		American Finance Trust, Inc		668
	800,727		American Homes 4 Rent		18,577
	2,513	*	American Realty Investors, Inc		23
	1,011,417		American Tower Corp		220,236
	947,910		Americold Realty Trust		32,267
	139,754		Amot Investments Ltd		820
	12,555,400		Ananda Development PCL (Foreign)		449
	41,000	*	Aoyuan Healthy Life Group Co Ltd		34
	89,490	e	Apartment Investment & Management Co		3,146
	26,242		Apple Hospitality REIT, Inc		241
	428,629		Argosy Property Ltd		228
	86,445		Armada Hoffler Properties, Inc		925
	743,289		Aroundtown S.A.		3,720
	18,383		Arriyadh Development Co		66
	76,798		Artis Real Estate Investment Trust		435
	3,400,501		Ascendas REIT		6,733
	3,266,138		Ascott Trust		1,801
	92,005		Ashford Hospitality Trust, Inc		68
	9,497,560		Asian Property Development PCL (Foreign)		1,095
	3,666,365		Assura Group Ltd		3,801
	23,471	e	Atrium Ljungberg AB		366
	173,898		Attacq Ltd		45
	439,381		AvalonBay Communities, Inc		64,664
	673,213		Aventus Retail Property Fund Ltd		612
	9,599,715		Ayala Land, Inc		5,665
	4,761,352	*,†	AZ BGP Holdings		12
	16,622		Azrieli Group		950
	2,306,300		Bangkok Land PCL		57
	1,691,983	*	Barwa Real Estate Co		1,392
	3,476		Bayside Land Corp		2,012
	70,301		Befimmo SCA Sicafi		3,363

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	183,200		Beijing Capital Development Co Ltd	$	169
	4,502,000		Beijing Capital Land Ltd		978
	1,158,000		Beijing North Star Co		266
	8,593		Big Shopping Centers Ltd		620
	583,828		Big Yellow Group plc		7,223
	1,800		BLife Investment Corp		4,412
	2,709		Blue Square Real Estate Ltd		107
	246,932		Bluerock Residential Growth REIT, Inc		1,375
	40,824		Boardwalk REIT		665
	427,911		Boston Properties, Inc		39,466
	645,362		BR Malls Participacoes S.A.		1,240
	58,908	*	BR Properties S.A.		104
	1,425	*	Brack Capital Properties NV		116
	32,852		BraeMar Hotels & Resorts, Inc		56
	20,371		Brandywine Realty Trust		214
	9,108		Brigade Enterprises Ltd		15
	1,693,826		British Land Co plc		7,064
	36,576		Brixmor Property Group, Inc		347
	114,590	e	Brookfield Property REIT, Inc		973
	60,532		Brt Realty Trust		620
	1,079,278		Bunnings Warehouse Property Trust		2,221
	925,000		C&D International Investment Group Ltd		1,263
	68,900		CA Immobilien Anlagen AG.		2,350
	516,452		Cache Logistics Trust		168
	1,101,830		Cambridge Industrial Trust		232
	454,317		Camden Property Trust		36,000
	123,073		Canadian Apartment Properties REIT		3,725
	4,340,903		CapitaCommercial Trust		4,658
	839,199		Capital & Counties Properties		1,708
	4,641,150		CapitaLand Ltd		9,301
	3,135,524		CapitaMall Trust		3,932
	372,287	e	CapitaRetail China Trust		316
	199,655		CareTrust REIT, Inc		2,953
	24,813	e	Carmila S.A.		355
	352,299	e	Castellum AB		5,940
	46,098		CatchMark Timber Trust, Inc		333
	18,547	*	Catena AB		538
	120,900		Cathay Real Estate Development Co Ltd		69
	176,504	*,e	CBL & Associates Properties, Inc		35
	804,499	*	CBRE Group, Inc		30,338
	408,720	e	CDL Hospitality Trusts		229
	384,536		Cedar Realty Trust, Inc		359
	28,226		Cedar Woods Properties Ltd		72
	2,004,000		Central China Real Estate Ltd		1,013
	1,941,058	*	Central Pattana PCL (Foreign)		2,492
	389,487		Centuria Industrial REIT		626
	198,890		Centuria Office REIT		201
	1,068,806		Champion Real Estate Investment Trust		642
	135,491		Charter Hall Education Trust		154
	1,100,637		Charter Hall Group		4,617
	660,581		Charter Hall Long Wale REIT		1,787
	45,947		Chatham Lodging Trust		273
	1,084,486		Cheuk Nang Holdings Ltd		365

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,133,000		China Aoyuan Group Ltd	$	7,066
	1,632,663	e	China Evergrande Group		2,676
	143,700		China Fortune Land Development Co Ltd		418
	174,000	*,g	China Logistics Property Holdings Co Ltd		64
	262,000		China Merchants Land Ltd		40
	398,900		China Merchants Shekou Industrial Zone Holdings Co Ltd		919
	5,485,000		China Overseas Grand Oceans Group Ltd		3,169
	4,245,571		China Overseas Land & Investment Ltd		13,017
	275,000		China Overseas Property Holdings Ltd		256
	2,758,622		China Resources Land Ltd		11,259
	12,692,400		China SCE Group Holdings Ltd		5,602
	948,000		China South City Holdings Ltd		91
	1,547,657		China Vanke Co Ltd		5,040
	519,600		China Vanke Co Ltd (Class A)		1,860
	67,000	g	China Vast Industrial Urban Development Co Ltd		23
	773,000		Chinese Estates Holdings Ltd		347
	185,424	e	Chip Eng Seng Corp Ltd		65
	273,088		Chong Hong Construction Co		675
	2,265,793		CIFI Holdings Group Co Ltd		1,606
	11,804	e	CIM Commercial Trust Corp		131
	709,953		City Developments Ltd		3,600
	309,066		City Office REIT, Inc		2,235
	49,011	e	Citycon Oyj		303
	323,065		Civitas Social Housing plc		385
	3,762,716		CK Asset Holdings Ltd		20,415
	21,768		Clipper Realty, Inc		113
	37,096		Cofinimmo		4,818
	46,684		Colliers International Group, Inc		2,233
	775,819		Colony Capital, Inc		1,358
	68,000		Colour Life Services Group		28
	379,158		Columbia Property Trust, Inc		4,739
	678		Comforia Residential REIT, Inc		1,939
	101,579		Cominar Real Estate Investment Trust		585
	18,177		Community Healthcare Trust, Inc		696
	1,187,604		Concentradora Fibra Danhos S.A. de C.V.		973
	4,558		Consolidated-Tomoka Land Co		207
	37,762	*	Consus Real Estate AG.		211
	414,826		CoreCivic, Inc		4,634
	11,829		CorEnergy Infrastructure Trust, Inc		217
	53,014		CorePoint Lodging, Inc		208
	54,936		Coresite Realty		6,367
	42,164		Corestate Capital Holding S.A.		1,232
	1,911,507		Corp Inmobiliaria Vesta SAB de C.V.		2,210
	14,621		Corporate Office Properties Trust		324
	6,535,891		Country Garden Holdings Co Ltd		7,814
	218,003		Cousins Properties, Inc		6,381
	2,488		CRE Logistics REIT, Inc		2,860
	447		Crescendo Investment Corp		416
	6,784	*,e	Cresud S.A. (ADR)		24
	49,670		Crombie Real Estate Investment Trust		438
	1,009,382	e	Cromwell Group		493
	906,351		Crown Castle International Corp		130,877
	2,378,943		CSI Properties Ltd		69

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	57,253		CT Real Estate Investment Trust	$	476
	165,874		CubeSmart		4,444
	113,850	*	Cushman & Wakefield plc		1,337
	204,119		Custodian Reit plc		252
	344,206		CyrusOne, Inc		21,255
	937		DA Office Investment Corp		5,200
	59,000	*	DaFa Properties Group Ltd		37
	170,600		Daibiru Corp		1,405
	39,773		Daito Trust Construction Co Ltd		3,693
	394,320		Daiwa House Industry Co Ltd		9,743
	1,285,520	*	Dar Al Arkan Real Estate Development Co		2,806
	187,460		Derwent London plc		7,573
	151,645		Deutsche Annington Immobilien SE		7,543
	30,670		Deutsche Euroshop AG.		354
	151,973		Deutsche Wohnen AG.		5,760
	150,000		Dexin China Holdings Co Ltd		60
	1,114,388		Dexus Property Group		6,175
	307,045	*	Deyaar Development PJSC		18
	199,516		DiamondRock Hospitality Co		1,014
	140,437	*	DIC Asset AG.		1,462
	351,080	e	Digital Realty Trust, Inc		48,769
	285,557	e	Dios Fastigheter AB		1,909
	234,577		Diversified Healthcare Trust		852
	494,011		DLF Ltd		894
	135,485		Dongwon Development Co Ltd		362
	474,330	*	DoubleDragon Properties Corp		151
	447,799		Douglas Emmett, Inc		13,662
	82,688		Dream Industrial Real Estate Investment Trust		552
	31,307		Dream Office Real Estate Investment Trust		519
	68,276		Dream Unlimited Corp		458
	165,925		Duke Realty Corp		5,373
	437,000	†	Eagle Hospitality Trust		60
	252,968		Easterly Government Properties, Inc		6,233
	74,327		EastGroup Properties, Inc		7,766
	193,100	*	Eco World Development Group BHD		18
	134,400	*	Eco World International BHD		12
	286,016	*	Emaar Economic City		516
	2,548,890		Emaar Malls Group PJSC		735
	5,030,041		Emaar Properties PJSC		2,987
	1,394,536	e	Emira Property Fund Ltd		491
	357,866		Emlak Konut Gayrimenkul Yatiri		63
	607,258		Emperor International Holdings		100
	199,075		Empire State Realty Trust, Inc		1,784
	1,480,467		Empiric Student Property plc		1,204
	400,464	g	Entra ASA		4,784
	9,236		EPR Properties		224
	178,508		Equinix, Inc		111,491
	1,014,028		Equites Property Fund Ltd		938
	76,110		Equity Commonwealth		2,413
	1,096,334		Equity Lifestyle Properties, Inc		63,017
	700,010		Equity Residential		43,198
	241,731	*	Eshraq Properties Co PJSC		13
	241,156		Essential Properties Realty Trust, Inc		3,149

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	183,033		Essex Property Trust, Inc	$	40,311
	27,014		Eurocommercial Properties NV		261
	51,290	*,e	eXp World Holdings Inc		434
	247,273		Extra Space Storage, Inc		23,679
	226,630		Fabege AB		2,891
	6,776,000		Fantasia Holdings Group Co Ltd		1,212
	608,269		Far East Consortium		218
	405,005		Far East Hospitality Trust		116
	57,812		Farglory Land Development Co Ltd		72
	26,468	e	Farmland Partners, Inc		161
	134,200	*	Fastighets AB Balder		4,851
	9,830	e	Federal Realty Investment Trust		733
	6,814,106		Fibra Uno Administracion S.A. de C.V.		5,340
	2,244,000		Filinvest Land, Inc		40
	72,600		Financial Street Holdings Co Ltd		66
	188,835		First Capital Real Estate Investment Trust		1,829
	284,791		First Industrial Realty Trust, Inc		9,464
	288,570		First Real Estate Investment Trust		137
	42,339		FirstService Corp		3,265
	32,426		Fonciere Des Regions		1,821
	15,999	*	Forestar Group, Inc		166
	3,549,303	e	Fortress REIT Ltd (Class A)		2,004
	189,121		Four Corners Property Trust, Inc		3,538
	97,123		Franklin Street Properties Corp		557
	4,317,125		Franshion Properties China Ltd		2,752
	376,277	e	Frasers Centrepoint Trust		589
	403,400		Frasers Hospitality Trust		112
	874,120	e	Frasers Logistics & Industrial Trust		540
	273,778		Front Yard Residential Corp		3,272
	625		Frontier Real Estate Investment Corp		1,771
	6,660	*	FRP Holdings, Inc		286
	329		Fukuoka REIT Corp		341
	1,824,000		Future Land Development Holdings Ltd		1,626
	112,000		Future Land Holdings Co Ltd		490
	880,110		Gaming and Leisure Properties, Inc		24,388
	740,188		Gateway Real Estate AG.		3,184
	383,665		Gazit Globe Ltd		2,929
	38,056		Gazit, Inc		418
	1,967,474		GCP Student Living plc		3,220
	1,215,714		GDI Property Group		702
	39,522		Gecina S.A.		5,201
	213,500		Gemdale Corp		421
	978,000		Gemdale Properties and Investment Corp Ltd		160
	117,085		Geo Group, Inc		1,424
	152,182		Getty Realty Corp		3,613
	141,181		Gladstone Commercial Corp		2,027
	19,685		Gladstone Land Corp		233
	202,210		Global Medical REIT, Inc		2,046
	259,547		Global Net Lease, Inc		3,470
	2,586		Global One Real Estate Investment Corp		2,181
	5,990		GLP J-Reit		6,792
	16,192	*	Godrej Properties Ltd		129
	203,180		Goldcrest Co Ltd		3,054
	2,490,994		Goodman Group		18,258

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,889,652		Goodman Property Trust	$	2,424
	1,824,658		GPT Group		4,054
	413,618		Grainger plc		1,316
	192,248		Grand City Properties S.A.		4,024
	73,811		Granite REIT		3,049
	1,077,692		Great Portland Estates plc		9,080
	283,200		Greenland Holdings Corp Ltd		214
	167,000		Greenland Hong Kong Holdings Ltd		63
	1,036		Griffin Land & Nurseries, Inc (Class A)		34
	749,934		Growthpoint Properties Australia Ltd		1,160
	2,838,200	e	Growthpoint Properties Ltd		2,042
	121,200	*	Grupo GICSA S.A. de C.V.		22
	4,987,213		Guangzhou R&F Properties Co Ltd		6,415
	408,700	e	Guocoland Ltd		382
	265,000		Guorui Properties Ltd		45
	211,556		H&R Real Estate Investment Trust		1,342
	33,519		Hamborner AG.		298
	397,588	e	Hammerson plc		379
	992,000		Hang Lung Group Ltd		2,073
	2,614,733		Hang Lung Properties Ltd		5,273
	288		Hankyu Reit, Inc		312
	62,851		Hannon Armstrong Sustainable Infrastructure Capital, Inc		1,283
	376,502		Healthcare Realty Trust, Inc		10,516
	427,589		Healthcare Trust of America, Inc		10,382
	1,037,813		Healthpeak Properties Inc		24,752
	44,654		Heiwa Real Estate Co Ltd		1,154
	217,017		Helical Bar plc		926
	74,904		Heliopolis Housing		16
	35,794	*,†	Hemisphere Properties India Ltd		79
	2,133,025		Henderson Land Development Co Ltd		8,073
	36,867		Hersha Hospitality Trust		132
	35,974,150	a	Hibernia REIT plc		41,500
	758,407		Highwealth Construction Corp		1,011
	12,388		Highwoods Properties, Inc		439
	38,880	e	HKC Holdings Ltd		25
	1,936,097		Hongkong Land Holdings Ltd		7,244
	115		Hoshino Resorts REIT, Inc		355
	1,469,880		Host Hotels and Resorts, Inc		16,227
	60,120	*	Howard Hughes Corp		3,037
	453,235		Huaku Development Co Ltd		1,235
	874,810		Hudson Pacific Properties		22,185
	149,338		Hufvudstaden AB (Series A)		2,041
	231,055		Hulic Co Ltd		2,338
	1,388		Hulic Reit, Inc		1,615
	96,640	*	Hung Sheng Construction Co Ltd		48
	66,911		Hyprop Investments Ltd		71
	592,159		Hysan Development Co Ltd		1,912
	27,355		Icade		2,147
	252,825	e	Ichigo Holdings Co Ltd		584
	600		Ichigo Real Estate Investment Corp		416
	275,092	*,e	IDU Co		217
	382,400		IGB Real Estate Investment Trust		141

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,600		Iguatemi Empresa de Shopping Centers S.A.	$	112
	28,617		Immobiliare Grande Distribuzione SIIQ S.p.A		118
	143,504	e	IMMOFINANZ AG.		2,599
	386,413		Independence Realty Trust, Inc		3,455
	743,325	*	Indiabulls Real Estate Ltd		402
	2,234		Industrial & Infrastructure Fund Investment Corp		3,025
	1,363,888	*	Industrial Buildings Corp		2,939
	262,928		Industrial Logistics Properties Trust		4,612
	2,782,169		Ingenia Communities Group		5,565
	361,019		Inmobiliaria Colonial S.A.		3,403
	30,535	e	Innovative Industrial Properties, Inc		2,319
	394,328	*,g	Instone Real Estate Group AG.		6,309
	67,524		InterRent Real Estate Investment Trust		639
	1,535		Intershop Holding AG.		806
	10,231	e	Intervest Offices		267
	6,900,408	*,e	Intu Properties plc		369
	7,584		Invesco Office J-Reit, Inc		1,005
	156,667		Investec Property Fund Ltd		60
	20,936		Investors Real Estate Trust		1,151
	32,257		Invincible Investment Corp		7,277
	1,729,035		Invitation Homes, Inc		36,949
	929,537		Irish Residential Properties REIT plc		1,259
	435,865		Iron Mountain, Inc		10,374
	4,600	*,e	IRSA Inversiones y Representaciones S.A. (ADR)		16
	63,722		iStar Inc		676
	529,994		IWG plc		1,130
	1,768		Japan Excellent, Inc		2,042
	6,442		Japan Hotel REIT Investment Corp		1,881
	1,016		Japan Logistics Fund Inc		2,263
	931		Japan Prime Realty Investment Corp		2,813
	553		Japan Real Estate Investment Corp		3,251
	26,851		Japan Rental Housing Investments, Inc		22,731
	3,085		Japan Retail Fund Investment Corp		3,507
	14,733		JBG SMITH Properties		469
	19,889	e	Jernigan Capital, Inc		218
	53,900	*	JHSF Participacoes S.A.		36
	1,596,750	*,†	Jiangsu Future Land Co Ltd		7,516
	158,100		Jiangsu Zhongnan Construction Group Co Ltd		171
	256,000		Jiayuan International Group Ltd		104
	2,988,000		Jingrui Holdings Ltd		817
	79,600		Jinke Properties Group Co Ltd		89
	9,794	*	John Mattson Fastighetsforetagen AB		128
	49,322		Jones Lang LaSalle, Inc		4,981
	1,717,329		K Wah International Holdings Ltd		738
	1,958,000		Kaisa Group Holdings Ltd		714
	347,852	e	Katitas Co Ltd		5,553
	16,500		Keihanshin Building Co Ltd		204
	503		Kenedix Realty Investment Corp		2,664
	4,019		Kenedix Residential Investment Corp		6,288
	277		Kenedix Retail REIT Corp		393
	1,258,718		Kenedix, Inc		4,777
	593,280		Kennedy-Wilson Holdings, Inc		7,962
	2,561,917	e	Keppel DC REIT		4,112
	870,121		Kerry Properties Ltd		2,275

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	146,365		Killam Apartment Real Estate Investment Trust	$	1,641
	235,543		Kilroy Realty Corp		15,004
	61,073		Kimco Realty Corp		591
	2,588,000		Kindom Construction Co		1,947
	80,064		Kite Realty Group Trust		758
	912,758		Kiwi Property Group Ltd		509
	109,663		Klepierre		2,090
	1,079,993	e	Klovern AB (B Shares)		1,595
	9,782		Korea Asset In Trust Co Ltd		16
	37,838		Korea Real Estate Investment Trust Co		51
	2,270,591	e	K-REIT Asia		1,510
	579,765		Kungsleden AB		4,361
	1,156,608		KWG Property Holding Ltd		1,621
	86,487		Lai Sun Development Co Ltd		93
	129,381		Lamar Advertising Co		6,635
	18,146	*	Lamda Development S.A.		113
	6,964,300		Land and Houses PCL Co Reg		1,406
	209,288		Land Securities Group plc		1,443
	452,500		Langham Hospitality Investments Ltd		81
	52,293		Lar Espana Real Estate Socimi S.A.		232
	3,729		LaSalle Logiport REIT		5,055
	81,139		LEG Immobilien AG.		9,099
	646,240		Lend Lease Corp Ltd		4,052
	384,543	*,e	Leopalace21 Corp		943
	239,118		Lexington Realty Trust		2,374
	38,639		Life Storage, Inc		3,653
	2,234,903		Link REIT		18,837
	2,269,140		Lippo-Mapletree Indonesia Retail Trust		186
	83,118		LOG Commercial Properties e Participacoes S.A.		350
	5,898,000		Logan Property Holdings Co Ltd		8,972
	1,080,752		London & Stamford Property plc		2,357
	1,562,278	g	Longfor Properties Co Ltd		7,519
	3,704,400		LPN Development PCL (Foreign)		369
	54,373		LSR Group PJSC (ADR)		77
	39,032		LTC Properties, Inc		1,206
	242,000		LVGEM China Real Estate Investment Co Ltd		74
	270,234		LXI REIT plc		362
	16,806	e	Macerich Co		95
	193,586		Mack-Cali Realty Corp		2,948
	201,496		Macquarie CountryWide Trust		385
	744,690		Macquarie MEAG Prime REIT		228
	1,099,176		Mah Sing Group BHD		96
	767,750		Manulife US Real Estate Investment Trust		554
	35,779	*,†,e	Mapeley Ltd		0	^
	2,819,084		Mapletree Commercial Trust		3,616
	1,157,400		Mapletree Greater China Commercial Trust		651
	4,000,726		Mapletree Industrial Trust		6,794
	5,548,148	e	Mapletree Logistics Trust		6,146
	23,054	*	Marcus & Millichap, Inc		625
	657,992		Matrix Concepts Holdings BHD		239
	8,688	*	Maui Land & Pineapple Co, Inc		95
	209,500		MBK PCL		83
	259,134		Medical Properties Trust, Inc		4,480

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,172,810	*	Medinet Nasr Housing	$	429
	8,810,298		Megaworld Corp		432
	9,332		Melisron Ltd		359
	98,672		Mercialys S.A		721
	326,601		Merlin Properties Socimi S.A.		2,465
	23,698	g	Metrovacesa S.A.		130
	1,958,100	g	Mexico Real Estate Management S.A. de C.V.		1,626
	1,003,067		MGM Growth Properties LLC		23,743
	2,873		MID Reit, Inc		2,036
	32,351		Mid-America Apartment Communities, Inc		3,333
	20,197		Minto Apartment Real Estate REIT NPV		280
	15,594		Mirae Asset Maps Asia Pacific Real Estate Investment		53
	820		Mirai Corp		279
	6,313,738		Mirvac Group		8,022
	1,734,286		Mitsubishi Estate Co Ltd		25,614
	142		Mitsubishi Estate Logistics REIT Investment Corp		468
	925,375		Mitsui Fudosan Co Ltd		16,023
	809		Mitsui Fudosan Logistics Park, Inc		3,422
	5,790	e	Mobimo Holding AG.		1,621
	390,523		Monmouth Real Estate Investment Corp (Class A)		4,706
	9,171	*	Montea C.V.A		845
	21,505		Morguard North American Resid		205
	27,459		Morguard Real Estate Investment Trust		100
	1,966		Mori Hills REIT Investment Corp		2,629
	170		Mori Trust Hotel Reit, Inc		130
	1,289		Mori Trust Sogo Reit, Inc		1,563
	232,329		Multiplan Empreendimentos Imobiliarios S.A.		853
	4,892	*,e	Nam Tai Property, Inc		27
	102,580		National Health Investors, Inc		5,080
	273,639		National Retail Properties, Inc		8,808
	413,228		National Storage Affiliates Trust		12,232
	414,152		National Storage REIT		402
	428,000		Neo-China Land Group Holdings Ltd		40
	606,126		NEPI Rockcastle plc		2,542
	3,610		NESCO Ltd		23
	81,599		New Senior Investment Group, Inc		209
	8,646,513		New World Development Co Ltd		9,220
	177,480		Newmark Group, Inc		754
	248,955		NewRiver REIT plc		182
	85,092		Nexity		2,619
	136,812		NexPoint Residential Trust, Inc		3,449
	516	e	Nippon Accommodations Fund, Inc		2,807
	639		Nippon Building Fund, Inc		4,299
	4,167		Nippon ProLogis REIT, Inc		10,485
	703		NIPPON REIT Investment Corp		2,082
	108,751		Nomura Real Estate Holdings, Inc		1,760
	3,652		Nomura Real Estate Master Fund, Inc		4,645
	109,536		Northview Apartment Real Estate Investment Trust		2,548
	84,030		NorthWest Healthcare Properties Real Estate Investment Trust		577
	9,125		NSI NV		367
	185,493	*	Nyfosa AB		929
	164,539		Oberoi Realty Ltd		722
	46,500		Oceanwide Holdings Co Ltd		26

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	79,813		Office Properties Income Trust	$	2,175
	125,316		Omega Healthcare Investors, Inc		3,326
	15,109		One Liberty Properties, Inc		210
	201,164		Open House Co Ltd		4,139
	2,330,150		Origin Property PCL		251
	1,599		Orix JREIT, Inc		2,103
	1,117,474		OUE Commercial Real Estate Investment Trust		273
	1,186,796		Outfront Media, Inc		15,998
	150,315	e	Overseas Union Enterprise Ltd		105
	445,527		Oxley Holdings Ltd		64
	317,868	*	Palm Hills Developments SAE		22
	752,797		Paramount Group, Inc		6,625
	170,437		Park Hotels & Resorts, Inc		1,348
	472,224		Parkway Life Real Estate Investment Trust		1,031
	500,365		Parque Arauco S.A.		701
	51,976		Patrizia Immobilien AG.		1,189
	135,300		Pavilion Real Estate Investment Trust		50
	153,806		Pebblebrook Hotel Trust		1,675
	74,834	e	Pennsylvania REIT		68
	51,028		Phoenix Mills Ltd		385
	739,711		Physicians Realty Trust		10,312
	283,855		Picton Property Income Ltd		314
	122,975		Piedmont Office Realty Trust, Inc		2,172
	1,421,500		PLA Administradora Industrial S de RL de C.V.		1,572
	199,400		Platinum Group PCL		12
	1,362,817		Poly Hong Kong Investment Ltd		457
	613,234		Poly Real Estate Group Co Ltd		1,276
	64,848		PotlatchDeltic Corp		2,036
	3,307,504		Precinct Properties New Zealand Ltd		3,352
	230,026		Preferred Apartment Communities, Inc		1,652
	1,499		Premier Investment Co		1,659
	123,823		Prestige Estates Projects Ltd		274
	627,909	e	Primary Health Properties plc		1,247
	244,000		Prime US REIT		152
	245,826		Prince Housing & Development Corp		74
	122,800		ProLogis Property Mexico S.A. de C.V.		185
	2,455,913		Prologis, Inc		197,382
	5,892	*	Property & Building Corp		367
	666,000		Prosperity REIT		209
	111,300		Pruksa Holding PCL		31
	39,331		PS Business Parks, Inc		5,330
	132,918		PSP Swiss Property AG.		16,621
	2,108,100	*	PT Alam Sutera Realty Tbk		13
	16,813,847	*	PT Bumi Serpong Damai		684
	2,134,340		PT Ciputra Development Tbk		58
	16,315,400	*,†	PT Hanson International Tbk		25
	6,002,440	*	PT Lippo Karawaci Tbk		49
	14,356,600		PT Pakuwon Jati Tbk		269
	3,218,262		PT PP Properti Tbk		10
	1,955,000		PT Puradelta Lestari Tbk		17
	3,971,900	*	PT Sentul City Tbk		12
	1,800,700		PT Summarecon Agung Tbk		44
	233,617		Public Storage, Inc		46,399

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	417,636	*,e	Purplebricks Group plc	$	219
	533,974	e	QTS Realty Trust, Inc		30,976
	1,709,722		Quality House PCL		97
	127,841		Radium Life Tech Co Ltd		38
	10,691	*	Rafael Holdings, Inc		137
	3,332,259	*	RAK Properties PJSC		339
	192,019		Rayonier, Inc		4,522
	7,274	e	Raysum Co Ltd		44
	147,940		RDI REIT plc		120
	25,798		Re/Max Holdings, Inc		565
	109,816	e	Realogy Holdings Corp		331
	255,450		Realty Income Corp		12,737
	188,000	e,g	Redco Properties Group Ltd		92
	5,131,453		Redefine Properties Ltd		679
	87,817	*	Redfin Corp		1,354
	142,000		Redsun Properties Group Ltd		46
	542,314		Regency Centers Corp		20,841
	1,804,901	g	Regional REIT Ltd		1,845
	314,513		Reit Ltd		1,522
	164,328		Relo Holdings, Inc		3,434
	421,548		Resilient REIT Ltd		749
	4,585		Retail Estates NV		237
	108,229		Retail Opportunities Investment Corp		897
	783,516		Retail Properties of America, Inc		4,051
	14,480		Retail Value, Inc		177
	1,665,610		Rexford Industrial Realty, Inc		68,307
	376,958		RioCan Real Estate Investment Trust		4,321
	200,200		RiseSun Real Estate Development Co Ltd		217
	160,495		RLJ Lodging Trust		1,239
	104,876		RMR Group, Inc		2,828
	1,104,000		Road King Infrastructure		1,658
	3,732,284		Robinsons Land Corp		1,086
	1,451,000		Ronshine China Holdings Ltd		1,401
	75,001		RPT Realty		452
	330,747		Ruentex Development Co Ltd		416
	135,520	e	Rural Funds Group		158
	47,570		Ryman Hospitality Properties		1,705
	5,819,312	e	S.A. Corporate Real Estate Fund Nominees Pty Ltd		368
	408,873		Sabana Shari’ah Compliant Industrial REIT		85
	199,614		Sabra Healthcare REIT, Inc		2,180
	59,400		Safehold, Inc		3,756
	968,085		Safestore Holdings plc		7,655
	99,623		Sagax AB		269
	102,127	e	Samhallsbyggnadsbolaget i - D		250
	1,272,564	*	Samhallsbyggnadsbolaget i Norden AB		2,440
	13,800		SAMTY Co Ltd		153
	154		Samty Residential Investment Corp		121
	13,814,877		Sansiri PCL		247
	219,000	e	Sasseur Real Estate Investment Trust		91
	17,474	*	Saudi Real Estate Co		56
	29,503		Saul Centers, Inc		966
	153,789		Savills plc		1,566
	183,521		SBA Communications Corp		49,545
	305,500		SC Asset Corp PCL		17

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,204,698		Scentre Group	$	5,943
	276,455		Schroder Real Estate Investment Trust Ltd		133
	1,833,195		Segro plc		17,330
	4,067		Sekisui House Reit, Inc		2,607
	175,374		Selvaag Bolig ASA		776
	32,691	*,e	Seritage Growth Properties		298
	19,018		Service Properties Trust		103
	104,770		Shaftesbury plc		799
	1,436,024		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,151
	90,300		Shanghai Zhangjiang High-Tech Park Development Co Ltd		153
	6,521,334		Shenzhen Investment Ltd		2,020
	1,032,261		Shimao Property Holdings Ltd		3,577
	70,970	*	Shining Building Business Co Ltd		19
	2,183,382		Shopping Centres Australasia Property Group		3,028
	3,870,500		Shui On Land Ltd		645
	46,938		Shurgard Self Storage Europe Sarl		1,392
	111		SIA Reit, Inc		251
	254,240		Siam Future Development PCL		28
	491,800		Sime Darby Property BHD		62
	351,370	e	Simon Property Group, Inc		19,276
	629,600	*	Singha Estate PCL		24
	3,118,477		Sino Land Co		3,925
	2,650,504		Sino-Ocean Land Holdings Ltd		671
	45,692		Sinyi Realty Co		35
	2,936,869		Sirius Real Estate Ltd		2,404
	18,254		SITE Centers Corp		95
	42,789		Six of October Development & Investment		25
	1,572		SK D&D Co Ltd		32
	562,000		Skyfame Realty Holdings Ltd		74
	397,251		SL Green Realty Corp		17,122
	22,990,890		SM Prime Holdings		12,768
	169,412		Smart Real Estate Investment Trust		2,268
	8,684		Sobha Developers Ltd		15
	5,246,135		Soho China Ltd		2,680
	472,169	e	Soilbuild Business Space REIT		106
	338,600		SP Setia BHD		58
	36,301	e	Sparkassen Immobilien AG.		705
	840,200		SPH REIT		454
	99,207		Spirit Realty Capital, Inc		2,594
	312,221		ST Modwen Properties plc		1,275
	34,284	*	St. Joe Co		575
	586,103		STAG Industrial, Inc		13,199
	210,468		Standard Life Investment Property Income Trust Ltd		219
	10,606	e	Star Asia Investment Corp		8,405
	113	*	Starts Proceed Investment Corp		188
	3,656,344		Stockland Trust Group		5,622
	716,007	e	Stor-Age Property REIT Ltd		498
	873,000	e	StorageVault Canada, Inc		1,793
	665,251		STORE Capital Corp		12,054
	5,604	*,e	Stratus Properties, Inc		99
	171,810		Sumitomo Realty & Development Co Ltd		4,195

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	98,836		Summit Hotel Properties, Inc	$	417
	75,543		Summit Industrial Income REIT		476
	18,990		Summit Real Estate Holdings Ltd		172
	580,587		Sun Communities, Inc		72,486
	122,800	e	Sun Frontier Fudousan Co Ltd		929
	1,800,359		Sun Hung Kai Properties Ltd		23,538
	2,120,522		Sunac China Holdings Ltd		9,671
	880,000	*,e	Suncity Group Holdings Ltd		130
	560,000		Sunlight Real Estate Investment Trust		273
	416,594		Sunstone Hotel Investors, Inc		3,629
	2,720,767		Suntec Real Estate Investment Trust		2,379
	10,431		Sunteck Realty Ltd		29
	2,385,161		Sunway BHD		853
	320,000		Sunway Real Estate Investment		118
	4,899,100		Supalai PCL		2,220
	560,500		Swire Pacific Ltd (Class A)		3,568
	1,912,394		Swire Properties Ltd		5,343
	91,215		Swiss Prime Site AG.		8,878
	291,156		TAG Tegernsee Immobilien und Beteiligungs AG.		5,726
	18,400		Tahoe Group Co Ltd		13
	671,500		Takara Leben Co Ltd		2,160
	7		Takara Leben Infrastructure Fu		7
	2,614		Takara Leben Real Estate Investment Corp		1,947
	214,640		Talaat Moustafa Group		68
	89,485	e	Tanger Factory Outlet Centers, Inc		447
	6,994	e	Taubman Centers, Inc		293
	20,010	*	Tejon Ranch Co		281
	266,842		Terreno Realty Corp		13,809
	7,000		TLG Immobilien AG.		111
	22,080		TOC Co Ltd		120
	555,427		Tokyo Tatemono Co Ltd		5,883
	1,254,510		Tokyu Fudosan Holdings Corp		6,026
	1,019		Tokyu REIT, Inc		1,340
	313,446		Tosei Corp		2,693
	2,141		Tosei Reit Investment Corp		1,919
	2,086	*	Transcontinental Realty Investors, Inc		43
	199,028		Tricon Capital Group, Inc		974
	5,422,037		Tritax Big Box REIT plc		7,548
	10,625,687	e,g	Tritax EuroBox plc		12,354
	711,000	*	U City PCL		18
	37,114		UDR, Inc		1,356
	268,400	*	UEM Land Holdings BHD		24
	404,462	e	UK Commercial Property REIT Ltd		378
	46,916		UMH Properties, Inc		509
	33,908	e	Unibail-Rodamco-Westfield		1,944
	14,560		Unibail-Rodamco-Westfield (Paris)		828
	442,866	*	Union Properties PJSC		25
	760,986		Unite Group plc		7,594
	3,718,853		United Development Co PSC		1,012
	2,164		United Urban Investment Corp		2,165
	194,800		Uniti Group, Inc		1,175
	132,000		Univentures PCL		10
	12,833		Universal Health Realty Income Trust		1,294
	13,356		Unizo Holdings Co Ltd		742

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	846,502		UOL Group Ltd	$	3,884
	97,468		Urban & Civic plc		249
	115,256		Urban Edge Properties		1,015
	25,904		Urstadt Biddle Properties, Inc (Class A)		365
	5,941		Vastned Retail NV		100
	564,346		Ventas, Inc		15,124
	146,221		VEREIT, Inc		715
	905,777	e	VICI Properties, Inc		15,072
	4,854,448		Vicinity Centres		3,037
	818,000		Vista Land & Lifescapes, Inc		65
	864,286		Viva Energy REIT		1,214
	24,289		Vornado Realty Trust		879
	260,134		Vukile Property Fund Ltd		104
	84,396		Wallenstam AB		959
	438,036	*	Warehouses De Pauw CVA		12,503
	182,966	e	Washington Prime Group, Inc		147
	81,253		Washington REIT		1,939
	79,588	e	Watkin Jones plc		152
	95,361		Weingarten Realty Investors		1,376
	753,448		Welltower, Inc		34,493
	21,874	e	Wereldhave NV		161
	1,158,430		Weyerhaeuser Co		19,635
	1,867,335		WHA Corp PCL		125
	1,129,084	e	Wharf Holdings Ltd		1,984
	1,406,444	e	Wharf Real Estate Investment Co Ltd		5,737
	963,000		Wheelock & Co Ltd		6,525
	34,793		Whitestone REIT		216
	405,880		Wihlborgs Fastigheter AB		5,614
	203,540		Wing Tai Holdings Ltd		222
	241,831		Workspace Group plc		2,269
	20,161		WP Carey, Inc		1,171
	46,352		WPT Industrial Real Estate Investment Trust		426
	107,827		Xenia Hotels & Resorts, Inc		1,111
	363,300		Xinhu Zhongbao Co Ltd		153
	150,400		Yango Group Co Ltd		147
	305,787		Yanlord Land Group Ltd		211
	120,000	*	Yincheng International Holding Co Ltd		40
	714,144	*,e	Yoma Strategic Holdings Ltd		93
	157,700		YTL Hospitality REIT		33
	346,000		Yuexiu Real Estate Investment Trust		169
	19,982,000		Yuexiul Property Co Ltd		3,570
	1,698,963		Yuzhou Properties Co		716
	1,122,000	*	Zhenro Properties Group Ltd		701
	384,000	*	Zhuguang Holdings Group Co Ltd		46
			TOTAL REAL ESTATE		3,318,419
RETAILING - 5.9%
	232,297	*	1-800-FLOWERS.COM, Inc (Class A)		3,073
	211,922		Aaron’s, Inc		4,828
	35,669		ABC-Mart, Inc		1,785
	64,125		Abercrombie & Fitch Co (Class A)		583
	884,841		Accent Group Ltd		428
	81,425		Adastria Holdings Co Ltd		929

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	106,517		Advance Auto Parts, Inc	$	9,940
	134,200		Aeon Co M BHD		35
	252,500	*	Alibaba Group Holding Ltd		6,118
	2,477,147	*	Alibaba Group Holding Ltd (ADR)		481,756
	105,384		Alpen Co Ltd		1,562
	1,142,479	*,n	Amazon.com, Inc		2,227,514
	151,880		American Eagle Outfitters, Inc		1,207
	7,137	*	America’s Car-Mart, Inc		402
	387,287	*,e	AO World plc		325
	19,500		AOKI Holdings, Inc		131
	22,241		Aoyama Trading Co Ltd		190
	79,949	e	AP Eagers Ltd		148
	55,994		Arata Corp		2,394
	13,900		Arc Land Sakamoto Co Ltd		125
	6,143	*	Arvind Fashions Ltd		12
	7,558		Asahi Co Ltd		79
	19,135	*	Asbury Automotive Group, Inc		1,057
	25,255	*,e	Ascena Retail Group, Inc		35
	36,300		ASKUL Corp		1,070
	396,480	*,e	ASOS plc		5,834
	48,455	*,e	At Home Group, Inc		98
	164,688		Autobacs Seven Co Ltd		1,896
	126,465	*,e	Autonation, Inc		3,549
	37,160	*,n	AutoZone, Inc		31,437
	3,426,108	e	B&M European Value Retail S.A.		11,636
	3,540,081	*	B2W Companhia Global Do Varejo		32,702
	79,431	*,e	Baozun, Inc (ADR)		2,219
	39,527	*	Barnes & Noble Education, Inc		54
	479,800		Beauty Community PCL (Foreign)		19
	124,457	e	Bed Bath & Beyond, Inc		524
	24,805		Belluna Co Ltd		110
	2,375,160		Berjaya Auto BHD		619
	720,676		Best Buy Co, Inc		41,079
	53,700	e	BIC CAMERA, Inc		434
	40,520		Big Lots, Inc		576
	262,701		Bilia AB		1,620
	209,808	*	BJ’s Wholesale Club Holdings, Inc		5,344
	2,209,728	*	boohoo.com plc		5,198
	71,965	*,n	Booking Holdings, Inc		96,816
	26,706	*,e	Boot Barn Holdings, Inc		345
	20,492	*,e,g	Boozt AB		83
	537,000	*,†,e	Boshiwa International Holding		1
	74,000		Boyd Group Services, Inc		7,703
	27,493	e	Buckle, Inc		377
	136,010	*	Burlington Stores, Inc		21,552
	146,970		Burson Group Ltd		366
	38,746		Caleres, Inc		201
	354,746	e	Camping World Holdings, Inc		2,018
	63,814		Canadian Tire Corp Ltd		3,852
	318,563		Card Factory plc		128
	632,559	*	CarMax, Inc		34,051
	68,356	*,e	Carvana Co		3,766
	4,189		Cashbuild Ltd		31
	21,200		Cato Corp (Class A)		226

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	109,374		Chico’s FAS, Inc	$	141
	486,784	e	Children’s Place, Inc		9,521
	110,000		China Animation Characters Co Ltd		42
	590,900		China Grand Automotive Services Co Ltd		336
	974,500	e	China Harmony New Energy Auto Holding Ltd		417
	3,904,000		China Meidong Auto Holdings Ltd		6,052
	228,500	e	China ZhengTong Auto Services Holdings Ltd		36
	8,816	e	Chiyoda Co Ltd		95
	71,331		Citi Trends, Inc		635
	22,410		CJ O Shopping Co Ltd		1,895
	99,695	e	Clas Ohlson AB (B Shares)		725
	151,000	*,e,g	Cogobuy Group		16
	8,599,300		Com7 PCL (Foreign)		4,079
	24,497	*,e	Conn’s, Inc		102
	16,942	*,e	Container Store Group, Inc		40
	247,604		Core-Mark Holding Co, Inc		7,074
	1,334		Cuckoo Homesys Co Ltd		35
	399,079		DCM Japan Holdings Co Ltd		3,691
	118,013		Delek Automotive Systems Ltd		458
	94,466	*,g	Delivery Hero AG.		6,946
	66,750		Designer Brands, Inc		332
	105,374	*	Despegar.com Corp		597
	7,593		Dick’s Sporting Goods, Inc		161
	49,248		Dieteren S.A.		2,443
	9,628	e	Dillard’s, Inc (Class A)		356
	209,650		Dohome PCL		30
	595,125		Dollar General Corp		89,870
	481,006	*	Dollar Tree, Inc		35,339
	265,701		Dollarama, Inc		7,371
	484,800		Don Quijote Co Ltd		9,181
	11,900		Doshisha Co Ltd		141
	19,669		Dufry Group		604
	9,532	*,e	Duluth Holdings, Inc		38
	141,767	e	Dunelm Group plc		1,228
	34,484	g	Dustin Group AB		163
	1,276,000		eBay, Inc		38,357
	99,578		EDION Corp		821
	111,447	*	eDreams ODIGEO S.A.		227
	401,236	e	El Puerto de Liverpool SAB de C.V.		876
	11,900		Enigmo, Inc		91
	897,200	*,e	Esprit Holdings Ltd		76
	182,122	*	Etsy, Inc		7,001
	687,148	g	Europris ASA		1,993
	623,889		Expedia Group Inc		35,106
	61,632	*,e	Express Parent LLC		92
	309,000		Far Eastern Department Stores Co Ltd		221
	1,133,057	*	Farfetch Ltd		8,951
	54,189		Fast Retailing Co Ltd		22,111
	15,686	*	Fawaz Abdulaziz Al Hokair & Co		73
	89,757	*	Five Below, Inc		6,317
	102,090	*,e	Floor & Decor Holdings, Inc		3,276
	25,361		Foot Locker, Inc		559
	499,494		Foschini Ltd		1,865

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	47,600		Fuji Co Ltd	$	792
	61,265	*,e	Funko, Inc		244
	10,430		Future Lifestyle Fashions Ltd		16
	13,260	*,e	Gaia, Inc		118
	64,036	*,e	GameStop Corp (Class A)		224
	36,317	e	Gap, Inc		256
	14,045	*	Genesco, Inc		187
	21,608		Genuine Parts Co		1,455
	16,300		Geo Holdings Corp		197
	618,000		Giordano International Ltd		111
	74,257	*,e	GNC Holdings, Inc		35
	996,291	e	Gocompare.Com Group plc		757
	7,540,494	*,e	GOME Electrical Appliances Holdings Ltd		693
	146,000	*	Grand Baoxin Auto Group Ltd		19
	27,836	*,e	Greenlane Holdings Inc		48
	40,267		Group 1 Automotive, Inc		1,782
	8,976	*	Groupe Fnac		237
	2,343,570	*	Groupon, Inc		2,297
	535,762	*	GrubHub, Inc		21,822
	13,300	*	Grupo SBF S.A.		62
	8,673		GS Home Shopping, Inc		751
	49,588	e	Guess?, Inc		336
	422,958		Gulliver International Co Ltd		1,536
	105,287	e	Halfords Group plc		91
	45,525		Hankyu Department Stores, Inc		332
	664,765	e	Harvey Norman Holdings Ltd		1,221
	16,806		Haverty Furniture Cos, Inc		200
	762,833	*	HelloFresh SE		24,911
	5,316,000	*,e	HengTen Networks Group Ltd		50
	969,607	e	Hennes & Mauritz AB (B Shares)		12,408
	16,971	*,e	Hibbett Sports, Inc		186
	24,790		Hikari Tsushin, Inc		4,148
	205,200		HLA Corp Ltd		182
	2,906,364		Home Depot, Inc		542,647
	4,599,384		Home Product Center PCL (Foreign)		1,540
	4,169		Hornbach Baumarkt AG.		69
	27,335		Hornbach Holding AG. & Co KGaA		1,143
	466,618		Hotai Motor Co Ltd		7,535
	22,613		Hotel Shilla Co Ltd		1,294
	2,285,000	*,†	Hsin Chong Group Holdings Ltd		3
	260,306	*	Hudson Ltd		1,307
	11,697		Hyundai Department Store Co Ltd		562
	9,229		Hyundai Home Shopping Network Corp		438
	887,806		Inchcape plc		4,738
	1,134,069		Industria De Diseno Textil S.A.		29,388
	201,675		Isetan Mitsukoshi Holdings Ltd		1,170
	24,028	*,e	Istyle, Inc		46
	254,000		IT Ltd		44
	23,200		Izumi Co Ltd		639
	137,713		J Front Retailing Co Ltd		1,137
	17,444	*,e	J. Jill, Inc		10
	265,491		Jardine Cycle & Carriage Ltd		3,650
	92,295		Jarir Marketing Co		3,118
	347,897	e	JB Hi-Fi Ltd		5,990

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	326,109	*,e	JC Penney Co, Inc	$	117
	675,673		JD Sports Fashion plc		3,784
	1,397,178	*	JD.com, Inc (ADR)		56,586
	6,942		Jin Co Ltd		380
	29,820		Joshin Denki Co Ltd		572
	140,274		Joyful Honda Co Ltd		1,612
	180,755		JUMBO S.A.		2,426
	1,119	*,e	Jumei International Holding Ltd (ADR)		21
	66,910	*,g	Just Eat Takeaway		5,036
	84,487		Keiyo Co Ltd		386
	149,704		Kering		78,058
	357,138		Kingfisher plc		627
	4,200	e	Kintetsu Department Store Co Ltd		98
	268,088	e	Kogan.com Ltd		870
	130,915		Kohl’s Corp		1,910
	59,400		Kohnan Shoji Co Ltd		1,203
	135,595		Komeri Co Ltd		2,422
	198,828		K’s Holdings Corp		1,879
	119,238		L Brands, Inc		1,378
	92,968	*,e	Lands’ End, Inc		496
	77,840	*	Leaf Group Ltd		104
	8,782,652		Li & Fung Ltd		1,142
	125,200	*	Liaoning Cheng Da Co Ltd		318
	96,500	*	Lifestyle China Group Ltd		23
	310,000		Lifestyle International Holdings Ltd		259
	25,764	*	Liquidity Services, Inc		100
	73,488		Lithia Motors, Inc (Class A)		6,011
	11,600		LIXIL VIVA Corp		197
	164,275	*	LKQ Corp		3,369
	2,095,794		Lojas Americanas S.A. (Preference)		7,260
	1,041,117		Lojas Renner S.A.		6,724
	164,401		Lookers plc		32
	1,957		LOTTE Himart Co Ltd		25
	8,586		Lotte Shopping Co Ltd		525
	50,857	e	Lovisa Holdings Ltd		154
	2,060,005		Lowe’s Companies, Inc		177,263
	384,561		Luk Fook Holdings International Ltd		771
	26,684	*,e	Lumber Liquidators, Inc		125
	113,899	e	Macy’s, Inc		559
	790,844		Magazine Luiza S.A.		5,934
	89,018	g	Maisons du Monde S.A.		703
	409,028	*,e	MakeMyTrip Ltd		4,890
	55,252	*	MarineMax, Inc		576
	23,800	*	Marisa Lojas S.A.		21
	201,360		Marks & Spencer Group plc		244
	115,309		Marui Co Ltd		1,929
	18,420		Matas A.S.		116
	14,716		Matsuya Co Ltd		83
	4,100		Media Do Holdings Co Ltd		115
	1,232,100	*	Meituan Dianping (Class B)		14,688
	20,522	*,e	Mekonomen AB		92
	17,422	*	MercadoLibre, Inc		8,512
	53,100	*,e	Mercari, Inc		1,031

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	574,215	*	Metro AG.	$	1,247
	85,040	*,e	Michaels Cos, Inc		138
	141,266	e	Mobilezone Holding AG.		1,215
	94,000		momo.com, Inc		1,190
	968,489		Moneysupermarket.com Group plc		3,599
	32,048		Monro Muffler, Inc		1,404
	40,358		Motus Holdings Ltd		62
	807,641		Mr Price Group Ltd		5,125
	56,500	*,g	Mulsanne Group Holding Ltd		47
	34,206	*	Murphy USA, Inc		2,886
	1,423,344	*,e	Myer Holdings Ltd		123
	81,427	e	N Brown Group plc		15
	588,481		Naspers Ltd (N Shares)		83,632
	240,440	*	National Vision Holdings, Inc		4,669
	512,501		New Carphone Warehouse plc		491
	123,221		Next plc		6,182
	324,400	e	Nextage Co Ltd		2,111
	23,987		Nishimatsuya Chain Co Ltd		165
	78,842		Nitori Co Ltd		10,655
	187,000		Nojima Corp		3,074
	70,044	e	Nordstrom, Inc		1,074
	2,736		NS Shopping Co Ltd		14
	380,034	*	Ocado Ltd		5,701
	543,503		Office Depot, Inc		891
	10,800	*,e	Oisix ra daichi, Inc		148
	80,656	*,e	Ollie’s Bargain Outlet Holdings, Inc		3,738
	61,242	g	On the Beach Group plc		165
	4,655	*	OneWater Marine, Inc		36
	62,384	*	Open Door, Inc		422
	117,255	*	O’Reilly Automotive, Inc		35,300
	27,135	*	Overstock.com, Inc		135
	1,055,500		Padini Holdings BHD		494
	127,028		Pal Co Ltd		1,543
	64,832		Paltac Corp		3,211
	18,780	*	PC Home Online		43
	55,925		Penske Auto Group, Inc		1,566
	691,897	e,g	Pepkor Holdings Ltd		419
	20,209	e	PetMed Express, Inc		582
	1,416,900		Petrobras Distribuidora S.A.		4,229
	483,761		Pets at Home Group plc		1,536
	167,175	*	Pinduoduo, Inc (ADR)		6,023
	77,308		Pool Corp		15,212
	5,837,500		Pou Sheng International Holdings Ltd		1,182
	18,701		Poya Co Ltd		265
	205,399		Premier Investments Ltd		1,534
	412,334	*	Prosus NV		28,718
	3,523,500		PT ACE Hardware Indonesia Tbk		280
	14,880,700		PT Matahari Department Store Tbk		1,214
	30,986,200		PT Mitra Adiperkasa Tbk		897
	6,565,900		PT Ramayana Lestari Sentosa Tbk		187
	3,718,100		PTG Energy PCL		1,087
	948,800		PTG Energy PCL		277
	137,634	*	Quotient Technology, Inc		895
	590,661	*	Qurate Retail Group, Inc QVC Group		3,606

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	100,265	*	Rakuten, Inc	$	756
	91,888	*	Real Matters, Inc		914
	50,775	*,e	RealReal, Inc		356
	201,392		Rent-A-Center, Inc		2,848
	27,974	*,e	RH		2,811
	160,755		Ripley Corp S.A.		37
	33,976	*,g	Rocket Internet SE		678
	618,502		Ross Stores, Inc		53,791
	563,330	*	Rubicon Project, Inc		3,126
	173,900		Ryohin Keikaku Co Ltd		1,934
	5,486,458	e	SA SA International Holdings Ltd		811
	722,583		SACI Falabella		1,588
	116,482	*	Sally Beauty Holdings, Inc		941
	25,500	e	Sanrio Co Ltd		338
	2,332		Saudi Co For Hardware CJSC		23
	6,037	*	Seobu Truck Terminal Co Ltd		25
	56,100		Seria Co Ltd		1,623
	58,000	*	Shanghai Yuyuan Tourist Mart Group Co Ltd		60
	18,706		Shimachu Co Ltd		460
	21,192		Shimamura Co Ltd		1,281
	5,850		Shinsegae Co Ltd		1,037
	525		Shinsegae International Co Ltd		80
	178,000	*	Shirble Department Stores		29
	9,064	e	Shoe Carnival, Inc		188
	14,461	*,g	Shop Apotheke Europe NV		799
	4,889		Shopper’s Stop Ltd		12
	19,222		Shutterstock, Inc		618
	324,679		Siam Global House PCL		91
	80,845	e	Signet Jewelers Ltd		521
	42,436	e,g	Sleep Country Canada Holdings, Inc		302
	100,532	*	Sleep Number Corp		1,926
	13,366	*,e,g	SMCP S.A.		56
	209,973		Sonic Automotive, Inc (Class A)		2,788
	258,836	*	Sports Direct International plc		583
	67,591	*	Sportsman’s Warehouse Holdings, Inc		416
	29,452	*	Stamps.com, Inc		3,831
	43,330		Start Today Co Ltd		582
	40,584	*,e	Stitch Fix Inc		515
	315,900		Suning.com Co Ltd		399
	604,823	e	Super Cheap Auto Group Ltd		1,730
	98,046	*	Super Group Ltd		68
	27,583	e	SuperGroup plc		36
	72,483	e	Tailored Brands, Inc		126
	333,200		Takashimaya Co Ltd		2,991
	48,667	*,g	Takeaway.com Holding BV		3,680
	52,081		Takkt AG.		402
	1,695,987		Target Corp		157,676
	10,169		Telepark Corp		192
	850,000	*	Temple & Webster Group Ltd		1,212
	59,000		Test-Rite International Co		37
	296,991		Tiffany & Co		38,460
	84,461		Tilly’s, Inc		349
	3,007,671		TJX Companies, Inc		143,797

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	100,725	*	Tokmanni Group Corp	$	999
	9,753	*	Tokyo Base Co Ltd		21
	8,800		Tokyo Derica Co Ltd		50
	2,209,054	g	Topsports International Holdings Ltd		2,290
	187,997		Tractor Supply Co		15,895
	235,770	*,g	Trainline plc		979
	752,426	*	Trip.com Group Ltd (ADR)		17,644
	1,377,189		Truworths International Ltd		1,923
	88,480	*	Ulta Beauty, Inc		15,546
	47,934	e	Uni-Select, Inc		174
	10,999		United Arrows Ltd		165
	5,193		United Electronics Co		79
	6,818	*,e	Urban Outfitters, Inc		97
	223,843		USS Co Ltd		3,069
	1,759	e	Valora Holding AG.		308
	1,533,300	*	Via Varejo S.A.		1,558
	672,500	*	Vipshop Holdings Ltd (ADR)		10,478
	25,700		Visual China Group Co Ltd		56
	1,763		V-Mart Retail Ltd		33
	40,788		VT Holdings Co Ltd		110
	96,954	*,e	Wayfair, Inc		5,181
	2,292,000	*	We Solutions Ltd		122
	107,525	e	Webjet Ltd		259
	1,322,044		Wesfarmers Ltd		28,014
	6,053		Weyco Group, Inc		122
	73,965		WH Smith plc		1,039
	312,000		Wilcon Depot, Inc		79
	120,872	e	Williams-Sonoma, Inc		5,139
	2,277		Winmark Corp		290
	1,195,331		Woolworths Holdings Ltd		1,842
	19,000		Workman Co Ltd		1,039
	162,100		World Co Ltd		2,252
	12,600		Xebio Co Ltd		104
	25,771	*,e,g	XXL ASA		12
	804,094	*	Yamada Denki Co Ltd		3,203
	218,934		Yellow Hat Ltd		3,035
	11,400	e	Yume No Machi Souzou Iinkai Co Ltd		112
	248,929	*,g	Zalando SE		9,382
	399,000		Zhongsheng Group Holdings Ltd		1,385
	8,088	*	zooplus AG.		988
	175,001	*	Zumiez, Inc		3,031
			TOTAL RETAILING		5,297,009
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.5%
	167,041	*	Acacia Communications, Inc		11,222
	43,615		A-DATA Technology Co Ltd		59
	29,566	*,e	Adesto Technologies Corp		331
	63,006	*	Advanced Energy Industries, Inc		3,055
	3,278,990	*	Advanced Micro Devices, Inc		149,128
	2,290		Advanced Process Systems Corp		45
	29,483	*	Advanced Wireless Semiconductor Co		75
	296,600		Advantest Corp		11,814
	72,658	*	Aixtron AG.		625
	17,044	*	Alpha & Omega Semiconductor Ltd		109

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,018	*	Ambarella, Inc	$	1,555
	508,072	*	Amkor Technology, Inc		3,958
	450,232	*,e	ams AG.		4,401
	624,776		Analog Devices, Inc		56,011
	4,269,824		Applied Materials, Inc		195,643
	84,738		Ardentec Corp		58
	3,138,963		ASE Industrial Holding Co Ltd		6,080
	157,303		ASM International NV		16,004
	405,956		ASM Pacific Technology		3,764
	5,884		ASMedia Technology, Inc		149
	711,412		ASML Holding NV		187,539
	5,000		ASPEED Technology, Inc		170
	6,551	*	Atto Co Ltd		18
	125,058	*	Axcelis Technologies, Inc		2,290
	36,818	*	AXT, Inc		118
	60,924		BE Semiconductor Industries NV		1,866
	1,006,127		Broadcom, Inc		238,553
	473,074		Brooks Automation, Inc		14,429
	29,528		Cabot Microelectronics Corp		3,370
	27,087	*	Ceva, Inc		675
	26,000		Chang Wah Technology Co Ltd		19
	11,538	*,†	China Energy Savings Technology, Inc		0
	952,000		Chipbond Technology Corp		1,542
	159,436		ChipMOS Technologies, Inc		139
	109,248	*	Cirrus Logic, Inc		7,170
	40,970		Cohu, Inc		507
	600,965	*	Cree, Inc		21,310
	404,549		Cypress Semiconductor Corp		9,434
	374,369	e	Dainippon Screen Manufacturing Co Ltd		13,701
	2,100	*	Daqo New Energy Corp (ADR)		122
	712,991	*	Dialog Semiconductor plc		18,533
	180,598	*	Diodes, Inc		7,339
	28,980		Disco Corp		5,638
	243,152		Dongbu HiTek Co Ltd		4,248
	32,508	*	DSP Group, Inc		436
	83,400		Elan Microelectronics Corp		230
	52,000		Elite Semiconductor Memory Technology, Inc		48
	5,188		Elmos Semiconductor AG.		107
	21,571		eMemory Technology, Inc		165
	166,948	*,e	Enphase Energy, Inc		5,391
	205,696		Entegris, Inc		9,209
	1,817		Eo Technics Co Ltd		89
	264,000		Epistar Corp		224
	695,000		Everlight Electronics Co Ltd		566
	46,060		Faraday Technology Corp		55
	18,000		Ferrotec		91
	125,597	*	First Solar, Inc		4,529
	74,000		Forhouse Corp		22
	275,311	*	Formfactor, Inc		5,531
	32,000		Formosa Advanced Technologies Co Ltd		34
	238,200		Formosa Sumco Technology Corp		1,014
	213,850		Foxsemicon Integrated Technology, Inc		816
	2,947,000	*,e	GCL Poly Energy Holdings Ltd		93

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	304,700	*	GCL System Integration Technology Co Ltd	$	130
	6,828	*	GemVax & Kael Co Ltd		131
	15,800	*	Gigadevice Semiconductor Beijing, Inc		533
	17,000		Global Unichip Corp		102
	670,800		Globalwafers Co Ltd		7,493
	126,633		Globetronics Technology BHD		47
	59,000		Greatek Electronics, Inc		82
	15,501	*	GSI Technology, Inc		108
	159,200		Hana Microelectronics PCL (Foreign)		110
	66,500		Hangzhou Silan Microelectronics Co Ltd		134
	4,905		Hanmi Semiconductor Co Ltd		27
	37,000		Holtek Semiconductor, Inc		73
	767,200	e,g	Hua Hong Semiconductor Ltd		1,379
	735,637		Hynix Semiconductor, Inc		49,732
	47,159	*	Ichor Holdings Ltd		904
	121,962	*,e	Impinj, Inc		2,038
	3,520,787		Infineon Technologies AG.		50,825
	1,451	*	Innox Advanced Materials Co Ltd		40
	295,482	*	Inphi Corp		23,393
	13,814,569		Intel Corp		747,644
	423,371	*,e	IQE plc		138
	30,125		Japan Material Co Ltd		392
	14,000	*	Jentech Precision Industrial Co Ltd		79
	346,915	*,e	JinkoSolar Holding Co Ltd (ADR)		5,152
	8,712		Jusung Engineering Co Ltd		34
	345,000		King Yuan Electronics Co Ltd		343
	56,000		Kinsus Interconnect Technology Corp		74
	158,619		KLA Corp		22,800
	21,951		Koh Young Technology, Inc		1,391
	3,054		L&F Co Ltd		43
	551,374		Lam Research Corp		132,330
	19,800		Land Mark Optoelectronics Corp		168
	135,994		Lasertec Corp		6,306
	568,013	*	Lattice Semiconductor Corp		10,122
	3,555		LEENO Industrial Inc		217
	186,300		LONGi Green Energy Technology Co Ltd		646
	7,000		Machvision, Inc		58
	45,803	*,e	MACOM Technology Solutions Holdings, Inc		867
	559,000		Macronix International		466
	16,700		Malaysian Pacific Industries BHD		35
	2,413,877		Marvell Technology Group Ltd		54,626
	610,858		Maxim Integrated Products, Inc		29,694
	63,536	*	MaxLinear, Inc		741
	3,028,565		MediaTek, Inc		32,506
	792		Meerecompany, Inc		11
	8,400	*	Megachips Corp		120
	13,765	e	Melexis NV		718
	1	*	Mellanox Technologies Ltd		0	^
	333,343	*,e	Meyer Burger Technology AG.		52
	229,348	e	Microchip Technology, Inc		15,550
	2,985,132	*	Micron Technology, Inc		125,555
	14,500		Micronics Japan Co Ltd		104
	40,700		Mimasu Semiconductor Industry Co Ltd		660
	11,300		Mitsui High-Tec, Inc		117

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	51,050		MKS Instruments, Inc	$	4,158
	151,533		Monolithic Power Systems, Inc		25,376
	72,392	*	Nanometrics, Inc		2,148
	814,000		Nanya Technology Corp		1,433
	453,860	*	Neo Solar Power Corp		70
	799,085	*,e	NeoPhotonics Corp Ltd		5,793
	3,613		NEPES Corp		84
	69,968	*	Nordic Semiconductor ASA		309
	35,377	*	Nova Measuring Instruments Ltd		1,163
	1,250,452		Novatek Microelectronics Corp Ltd		7,050
	22,000	*	Nuvoton Technology Corp		22
	17,186		NVE Corp		894
	1,696,024		NVIDIA Corp		447,072
	1,118,279		NXP Semiconductors NV		92,739
	392,486	*	ON Semiconductor Corp		4,883
	6,440		On-Bright Electronics, Inc		48
	50,875		Optorun Co Ltd		1,198
	54,100		Pan Jit International, Inc		34
	18,401		Parade Technologies Ltd		389
	68,899	*	PDF Solutions, Inc		807
	98,195		Phison Electronics Corp		794
	356,234	*	Photronics, Inc		3,655
	27,613		Pixart Imaging, Inc		127
	30,926		Power Integrations, Inc		2,732
	493,597		Powertech Technology, Inc		1,398
	155,022	*	Qorvo, Inc		12,499
	2,468,272		QUALCOMM, Inc		166,979
	3,429,000		Radiant Opto-Electronics Corp		8,873
	481,305	*	Rambus, Inc		5,342
	1,037,598		Realtek Semiconductor Corp		7,449
	6,167,515	*	Renesas Electronics Corp		21,938
	2,735	e	RFHIC Corp		87
	10,000	*	RichWave Technology Corp		39
	683,406		Rohm Co Ltd		37,097
	5,100		Rorze Corp		145
	22,500		RS Technologies Co Ltd		436
	216,938		Sanan Optoelectronics Co Ltd		577
	11,807		Sanken Electric Co Ltd		229
	26,000		SDI Corp		32
	2,003,147	*,e	Semiconductor Manufacturing International Corp		3,146
	159,040	*	Semtech Corp		5,964
	8,006		Seoul Semiconductor Co Ltd		77
	58,000	*,e	Shanghai Fudan Microelectronics Group Co Ltd		38
	16,300		Shenzhen Goodix Technology Co Ltd		592
	3,440		Shindengen Electric Manufacturing Co Ltd		74
	622,800		Shinko Electric Industries		5,932
	7,000	*	ShunSin Technology Holding Ltd		20
	76,116		Sigurd Microelectronics Corp		77
	59,134		Silergy Corp		1,918
	42,509	*	Silicon Laboratories, Inc		3,631
	2,401		Silicon Works Co Ltd		54
	43,263		Siltronic AG.		3,130
	960,000		Sino-American Silicon Products, Inc		2,457

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,798	*	SiTime Corp	$	104
	147,000		Sitronix Technology Corp		569
	339,300		Skyworks Solutions, Inc		30,327
	5,407	*	SMA Solar Technology AG.		154
	13,903	*	SMART Global Holdings, Inc		338
	18,384	*	SOITEC		1,311
	809,086		STMicroelectronics NV		17,393
	14,363	*	STS Semiconductor & Telecommunications		53
	3,517,605		Sumco Corp		44,698
	77,958	*,e	SunPower Corp		395
	324,600		SVI PCL (Foreign)		19
	43,000		Taiwan Semiconductor Co Ltd		43
	38,077,758		Taiwan Semiconductor Manufacturing Co Ltd		342,788
	834,448		Taiwan Semiconductor Manufacturing Co Ltd (ADR)		39,878
	1,383,000		Taiwan Surface Mounting Technology Co Ltd		3,124
	347,003		Teradyne, Inc		18,797
	3,184		TES Co Ltd		50
	1,594,178		Texas Instruments, Inc		159,306
	122,600	*	Tianjin Zhonghuan Semiconductor Co Ltd		244
	943		Tokai Carbon Korea Co Ltd		47
	92,289		Tokyo Electron Ltd		17,200
	19,500		Tokyo Seimitsu Co Ltd		549
	972,185		Topco Scientific Co Ltd		2,884
	4,089		Toptec Co Ltd		41
	161,063	*	Tower Semiconductor Ltd		2,538
	2,900	e	Tri Chemical Laboratories, Inc		195
	1,746,000	*,†	Trony Solar Holdings Co Ltd.		2
	3,499		U-Blox AG.		213
	10,427	e	UKC Holdings Corp		144
	100,945	*	Ultra Clean Holdings		1,393
	29,744		Ulvac, Inc		704
	27,236,071		United Microelectronics Corp		12,212
	135,845		Universal Display Corp		17,902
	1,076,628		Vanguard International Semiconductor Corp		2,087
	70,438	*	Veeco Instruments, Inc		674
	39,000	*	Via Technologies, Inc		25
	117,800	*	Visionox Technology, Inc		185
	33,068		Visual Photonics Epitaxy Co Ltd		85
	38,200		ViTrox Corp BHD		63
	136,975		Wafer Works Corp		116
	26,800		Will Semiconductor Ltd		580
	233,000		Win Semiconductors Corp		2,000
	1,943,000		Winbond Electronics Corp		722
	8,133	*	WONIK IPS Co Ltd		164
	27,690	*,e,g	X-Fab Silicon Foundries SE		60
	400,659		Xilinx, Inc		31,227
	33,000	*	XinTec, Inc		62
	2,545,000		Xinyi Solar Holdings Ltd		1,412
	227,268		Xperi Corp		3,161
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		4,009,952
SOFTWARE & SERVICES - 10.8%
	12,400	*	21Vianet Group, Inc (ADR)		172
	128,446	*	2U, Inc		2,726

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	234,100		360 Security Technology, Inc	$	616
	96,544	*,e	8x8, Inc		1,338
	184,416	*	A10 Networks, Inc		1,145
	1,293,937		Accenture plc		211,248
	112,731	*	ACI Worldwide, Inc		2,722
	751,762	*	Adobe, Inc		239,241
	72,875	*,g	Adyen NV		61,936
	848,127	*	Afterpay Touch Group Ltd		9,862
	876,000	*	AGTech Holdings Ltd		26
	1,265		Ahnlab, Inc		58
	76,100		Aisino Corp		203
	441,924	*	Akamai Technologies, Inc		40,432
	36,204	*	Alarm.com Holdings, Inc		1,409
	197,303	*,g	Alfa Financial Software Holdings plc		187
	63,204		Alliance Data Systems Corp		2,127
	50,916	*,e	Altair Engineering, Inc		1,349
	29,236		Alten		2,057
	70,478	*	Alteryx, Inc		6,707
	196,114		Altium Ltd		3,441
	103,214		Altran Technologies S.A.		1,696
	419,122		Amadeus IT Holding S.A.		19,728
	303,318		Amdocs Ltd		16,673
	48,792		American Software, Inc (Class A)		693
	1,059,425	*	Anaplan, Inc		32,058
	74,472	*	Ansys, Inc		17,312
	181,185		Appen Ltd		2,164
	15,476	*	Appfolio, Inc		1,717
	33,719	*,e	Appian Corp		1,357
	8,200		Argo Graphics, Inc		268
	126,840	*	Aspen Technology, Inc		12,059
	35,247		Asseco Poland S.A.		492
	109,392	*	Atlassian Corp plc		15,015
	99,913		Atos Origin S.A.		6,657
	12,909		Aubay		284
	3,600	*,e	Aurora Mobile Ltd (ADR)		8
	460,971	*	Autodesk, Inc		71,958
	794,037		Automatic Data Processing, Inc		108,529
	168,756	*	Avalara, Inc		12,589
	3,321,667	g	Avast plc		16,059
	112,490	*,e	Avaya Holdings Corp		910
	100,956		Aveva Group plc		4,350
	99,000	*,e	BASE, Inc		1,002
	139,237		Bechtle AG.		17,532
	42,000		Beijing Shiji Information Technology Co Ltd		169
	73,000		Beijing Sinnet Technology Co Ltd		242
	113,991	*	Benefitfocus, Inc		1,016
	15,162	*,e	Bill.Com Holdings, Inc		519
	267,300	*	Black Knight, Inc		15,519
	63,227		Blackbaud, Inc		3,512
	542,958	*	Blackberry Ltd (New)		2,226
	105,679	*	Blackline, Inc		5,560
	274,340	*,e	Blue Prism Group plc		3,808
	333,765		Booz Allen Hamilton Holding Co		22,910

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	89,512	*	Bottomline Technologies, Inc	$	3,281
	160,456	*	Box, Inc		2,253
	127,990		Bravura Solutions Ltd		298
	156,682	*	Brightcove, Inc		1,092
	45,700		Broadleaf Co Ltd		198
	180,832		Broadridge Financial Solutions, Inc		17,148
	101,398	*	CACI International, Inc (Class A)		21,410
	537,773	*	Cadence Design Systems, Inc		35,515
	26,949	*	Cafe24 Corp		596
	82,731		Cancom SE		3,478
	410,414		Cap Gemini S.A.		34,295
	36,164	*	Cardtronics plc		757
	13,800		Cass Information Systems, Inc		485
	200,119		CDK Global, Inc		6,574
	52,386	*	Cerence Inc		807
	144,619	*	Ceridian HCM Holding, Inc		7,241
	279,876	*	CGI, Inc		15,152
	3,800	*	Change, Inc		97
	79,849	*	ChannelAdvisor Corp		580
	206,200	*	Chatwork Co Ltd		2,136
	152,491	*	Check Point Software Technologies		15,331
	7,600		Cheetah Mobile, Inc (ADR)		16
	2,128,000	*	China Innovationpay Group Ltd		209
	23,700		China National Software & Service Co Ltd		239
	61,800		China TransInfo Technology Co Ltd		176
	426,000	e	Chinasoft International Ltd		220
	1,049,413		Cielo S.A.		897
	198,062		Citrix Systems, Inc		28,036
	299,560	*,e	Cloudera, Inc		2,358
	845,954		Cognizant Technology Solutions Corp (Class A)		39,311
	154,712	*	Commvault Systems, Inc		6,263
	227,009		Computacenter plc		4,025
	61,000		Computer Engineering & Consulting Ltd		770
	458,843		Computershare Ltd		2,747
	10,188	e	Comture Corp		207
	164,270	*	Conduent, Inc		402
	20,746		Constellation Software, Inc		18,855
	121,383		CoreLogic Inc		3,707
	95,689	*	Cornerstone OnDemand, Inc		3,038
	98,626	*	Coupa Software, Inc		13,781
	82,937		CSG Systems International, Inc		3,471
	115,537	*	CyberArk Software Ltd		9,885
	146,000		Cybozu, Inc		2,560
	463,507		Dassault Systemes S.A.		67,668
	9,000	*	Datadog, Inc		324
	2,198		Datagroup SE		121
	545,756	*	Descartes Systems Group, Inc		18,774
	12,351	e	Devoteam S.A.		790
	155,300		DHC Software Co Ltd		280
	11,025	*,e	Digimarc Corp		144
	5,500		Digital Arts, Inc		237
	143,000		Digital China Holdings Ltd		64
	28,313		Digital Garage, Inc		900
	114,437	*	Digital Turbine, Inc		493

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	150,668	*	DocuSign, Inc	$	13,922
	20,645	*	Domo, Inc		205
	731,620	*	Dropbox, Inc		13,242
	199,700		DTS Corp		3,467
	4,789		DuzonBIzon Co Ltd		316
	337,313		DXC Technology Co		4,402
	545,105	*	Dynatrace, Inc		12,995
	22,206	e	Ebix, Inc		337
	15,549		eClerx Services Ltd		75
	253,822	e	Econocom Group S.A.		398
	217,470		Edenred		9,025
	20,626	*	eGain Corp		151
	137,178	*	Elastic NV		7,656
	42,548		Ementor ASA		358
	423,494	*	EML Payments Ltd		595
	68,390	*	Endurance International Group Holdings, Inc		132
	46,708		Enghouse Systems Ltd		1,445
	47,733	*	Envestnet, Inc		2,567
	46,771	*	EPAM Systems, Inc		8,683
	189,074	g	Equiniti Group plc		408
	7,947	*	Euronet Worldwide, Inc		681
	50,553	*,e	Everbridge, Inc		5,377
	555,948	*	Everi Holdings, Inc		1,835
	312,674		EVERTEC, Inc		7,107
	59,438	*	Evo Payments, Inc		909
	51,087	*	ExlService Holdings, Inc		2,658
	43,845	*	Fair Isaac Corp		13,491
	1,563,421		Fidelity National Information Services, Inc		190,175
	108,403	*,†,g	Finablr plc		7
	166,517	*	FireEye, Inc		1,762
	78,988		First Derivatives plc		2,237
	798,537		Firstsource Solutions Ltd		288
	503,918	*	Fiserv, Inc		47,867
	233,859	*	Five9, Inc		17,881
	11,600	*	Fixstars Corp		109
	14,820	*	FleetCor Technologies, Inc		2,765
	42,782	*	ForeScout Technologies, Inc		1,351
	22,773		Formula Systems 1985 Ltd		1,257
	159,068	*	Fortinet, Inc		16,093
	94,670		Fortnox AB		1,569
	553,000	*,e	Freee KK		17,776
	49,445	*,e	F-Secure Oyj		128
	45,600		FUJI SOFT, Inc		1,464
	567,373		Fujitsu Ltd		51,103
	4,427		Fukui Computer Holdings, Inc		89
	11,200		Future Architect, Inc		145
	238,413	*	Gartner, Inc		23,739
	280,075	e	GB Group plc		1,999
	533,690	*	GDS Holdings Ltd (ADR)		30,938
	719,961		Genpact Ltd		21,023
	206,841	*,g	Global Dominion Access S.A.		569
	1,025,762		Global Payments, Inc		147,946
	63,617	*	Globant S.A.		5,591

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	57,200	*	Glodon Co Ltd	$	340
	2,100		GMO Cloud KK		32
	73,770		GMO internet, Inc		1,231
	54,800		GMO Payment Gateway, Inc		3,841
	462,955	*	GoDaddy, Inc		26,439
	32,874	*,e	GTT Communications, Inc		261
	40,117	*,e	GTY Technology Holdings Inc		181
	211,880	*	Guidewire Software, Inc		16,804
	6,748	*	Gunosy, Inc		54
	4,254	*	Haansoft, Inc		32
	220,965		Hackett Group, Inc		2,811
	87,230		Hansen Technologies Ltd		156
	1,195,226		HCL Technologies Ltd		6,894
	6,000		Hearts United Group Co Ltd		40
	92,495		Hexaware Technologies Ltd		276
	2,619,000	*	Hi Sun Technology China Ltd		301
	8,161		Hilan Ltd		254
	466,377	*	HubSpot, Inc		62,117
	104,400	*,e,g	Huifu Payment Ltd		30
	48,060		Hundsun Technologies, Inc		589
	1,269		Hyundai Autoever Corp		32
	16,056	*	I3 Verticals, Inc		306
	52,736	*,e	Ideanomics Inc		71
	132,800		Iflytek Co Ltd		635
	274,921	*	Indra Sistemas S.A.		2,239
	178,409		Ines Corp		2,238
	74,486		Inesa Intelligent Tech, Inc - B		43
	35,600		Infocom Corp		813
	2,438,400		Infomart Corp		16,046
	35,650	*	Information Services Group, Inc		92
	25,200		Information Services International-Dentsu Ltd		916
	3,617,527		Infosys Technologies Ltd		29,971
	9,054	*	Inspired Entertainment, Inc		31
	94,000	e	Inspur International Ltd		29
	54,233		Integrated Research Ltd		87
	56,762	*,e	Intelligent Systems Corp		1,929
	938,517		International Business Machines Corp		104,110
	18,102	*,e	International Money Express Inc		165
	606,992		Intuit, Inc		139,608
	39,482	e	iomart Group plc		134
	90,625		Iress Market Technology Ltd		576
	462,444		IT Holdings Corp		7,669
	103,800		Itochu Techno-Science Corp		2,956
	73,817	*	j2 Global, Inc		5,525
	22,818		Jack Henry & Associates, Inc		3,542
	41,250		Justsystems Corp		1,874
	37,810	e	Kainos Group plc		305
	6,086		Kanematsu Electronics Ltd		191
	317,613		KBR, Inc		6,568
	306,437		Keywords Studios plc		5,424
	65,548		Kginicis Co Ltd		999
	268,716	*	Kinaxis, Inc		20,792
	2,064,000		Kingdee International Software Group Co Ltd		2,715
	4,214,061	*	Kingsoft Corp Ltd		13,546

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,042	*	Korea Information & Communications Co Ltd	$	12
	245,565		KPIT Cummins Infosystems Ltd		198
	247,004		KPIT Engineering Ltd		113
	8,212		LAC Co Ltd		57
	39,887	g	Larsen & Toubro Infotech Ltd		747
	3,133,155	e	Learning Technologies Group plc		5,199
	207,004		Leidos Holdings, Inc		18,972
	286,570	*,e	Lightspeed POS, Inc		3,877
	429,015	*	Limelight Networks, Inc		2,445
	276,965		Link Administration Holdings Ltd		547
	489,867		Linx S.A.		1,570
	61,201	*,e	Liveperson, Inc		1,392
	91,107	*	LiveRamp Holdings, Inc		2,999
	75,378		LogMeIn, Inc		6,277
	114,319	*	Logo Yazilim Sanayi Ve Ticaret AS.		1,032
	21,703		Lotte Data Communication Co		473
	8,030	*	Majesco		44
	99,720	*	Manhattan Associates, Inc		4,968
	110,058		Mantech International Corp (Class A)		7,998
	2,748,019		Mastercard, Inc (Class A)		663,811
	17,722		Matrix IT Ltd		288
	82,534		MAXIMUS, Inc		4,803
	1,868,052	*,e	Medallia, Inc		37,436
	389,787	*	Megaport Ltd		2,364
	345,981		Micro Focus International plc		1,707
	17,983,059		Microsoft Corp		2,836,108
	8,116	*	MicroStrategy, Inc (Class A)		958
	90,804		MindTree Ltd		995
	9,000		Miroku Jyoho Service Co Ltd		198
	151,252	*	Mitek Systems, Inc		1,192
	41,600		Mitsubishi Research Institute, Inc		1,265
	518,579	*	MobileIron, Inc		1,971
	361,483	*	Model N, Inc		8,029
	6,994	*	Money Forward, Inc		268
	68,448	*,e	MongoDB, Inc		9,346
	109,292		Mphasis Ltd		955
	416,700		My EG Services BHD		92
	852,000	*,†,e	National Agricultural Holdings Ltd		1
	144,126		NCC Group plc		295
	1,766,410	*,e	nearmap Ltd		1,226
	165,420		NEC Corp		6,023
	11,700		NEC Networks & System Integration Corp		474
	52,077		Nemetschek AG.		2,539
	148,625	e	NET One Systems Co Ltd		3,093
	28,102	*,g	Netcompany Group A.S.		1,291
	754,516	*,g	Network International Holdings plc		3,669
	77,196	*	New Relic, Inc		3,570
	47,500		Newland Digital Technology Co Ltd		105
	182,500	*,g	Nexi S.p.A		2,374
	169,799	*	NEXTDC Ltd		923
	3,225		NHN KCP Corp		80
	376,845		NIC, Inc		8,667
	77,467	*	Nice Systems Ltd		11,201

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	160,319		Nihon Unisys Ltd	$	4,276
	4,013		NIIT Technologies Ltd		61
	36,700		Nippon System Development Co Ltd		489
	238,590		Nomura Research Institute Ltd		5,040
	697,714		NortonLifelock, Inc		13,054
	128,200		NS Solutions Corp		3,114
	272,945		NTT Data Corp		2,613
	457,132	*	Nuance Communications, Inc		7,671
	373,934	*,e	Nutanix, Inc		5,908
	10,500	e	OBIC Business Consultants Ltd		426
	42,310		Obic Co Ltd		5,513
	179,526	*	Okta, Inc		21,949
	169,658	*	OneSpan, Inc		3,079
	269,300		Open Text Corp		9,417
	8,600	*	Optim Corp		159
	2,206,966		Oracle Corp		106,663
	39,639	*	Oracle Corp Japan		3,457
	3,500		Oro Co Ltd		85
	107,938		Otsuka Corp		4,601
	62,851	*,e	Pagerduty, Inc		1,086
	392,045	*,e	Pagseguro Digital Ltd		7,578
	80,532	*	Palo Alto Networks, Inc		13,204
	500,129		Paychex, Inc		31,468
	79,211	*	Paycom Software, Inc		16,001
	85,799	*	Paylocity Holding Corp		7,578
	4,622,998	*	PayPal Holdings, Inc		442,606
	30,563	*,e	Paysign Inc		158
	108,381		Pegasystems, Inc		7,720
	30,455	*	Perficient, Inc		825
	32,912		Persistent Systems Ltd		240
	799,101		Perspecta, Inc		14,576
	15,079	*	Ping Identity Holding Corp		302
	6,400	*	PKSHA Technology, Inc		92
	211,840	*,e	Pluralsight, Inc		2,326
	13,320		POSDATA Co Ltd		41
	24,000	*	PRGX Global, Inc		67
	6,851	*	Priority Technology Holdings Inc		13
	305,984		Progress Software Corp		9,791
	564,641	*	Proofpoint, Inc		57,927
	103,706	*	PROS Holdings, Inc		3,218
	167,176	*	PTC, Inc		10,233
	196,781	*,e	Pushpay Holdings Ltd		394
	42,794	*	Q2 Holdings, Inc		2,527
	11,276		QAD, Inc (Class A)		450
	43,595	*	Qualys, Inc		3,792
	18,800		Rakus Co Ltd		279
	72,185	*	Rapid7, Inc		3,128
	271,132	*	RealPage, Inc		14,351
	30,491		Reply S.p.A		1,854
	40,676	e	RIB Software AG.		1,274
	19,567	*	Rimini Street, Inc		80
	173,822	*	RingCentral, Inc		36,835
	743,903		Sabre Corp		4,411
	1,073,748		Sage Group plc		7,808

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	84,905	*	SailPoint Technologies Holding, Inc	$	1,292
	38,952		Saipens International Corp NV		752
	4,153,647	*	salesforce.com, Inc		598,042
	22,811		Samsung SDS Co Ltd		2,788
	17,400		Sangfor Technologies, Inc		386
	5,700	*,e	Sansan, Inc		237
	1,003,921		SAP AG.		112,086
	14,221	*	Schrodinger, Inc		613
	103,554		Science Applications International Corp		7,728
	20,426	*	SecureWorks Corp		235
	1,091,663	*	ServiceNow, Inc		312,849
	266,212		Shanghai 2345 Network Holding Group Co Ltd		103
	44,600		Shanghai Baosight Software Co Ltd		246
	8,802	*,e	SharpSpring Inc		53
	47,100	*	Shenzhen Kingdom Sci-Tech Co Ltd		110
	350,272	*	SHIFT, Inc		22,673
	2,776	*	Shopify, Inc (Class A)		1,157
	129,608	*	Shopify, Inc (Class A) (Toronto)		54,302
	15,239	*,e	ShotSpotter, Inc		419
	437,141		Silverlake Axis Ltd		75
	29,763		SimCorp AS		2,482
	97,600		Sinosoft Technology Group Ltd		15
	2,913,880	*,e	Slack Technologies, Inc		78,209
	139,241	*	Smartsheet, Inc		5,780
	4,600	e	Softbank Technology Corp		91
	198,284		Softcat plc		2,525
	24,939		Software AG.		743
	66,336	*,e	SolarWinds Corp		1,039
	37,788	*,e	Solutions 30 SE		286
	6,481		Sonata Software Ltd		14
	101,036		Sonda S.A.		53
	49,432		Sopra Group S.A.		5,407
	42,462	e	Sourcenext Corp		114
	230,913	*	Splunk, Inc		29,148
	9,339	*	Sprout Social, Inc		149
	270,942	*	SPS Commerce, Inc		12,602
	55,574	*	Square, Inc		2,911
	803,801		SS&C Technologies Holdings, Inc		35,223
	16,551	*	StarTek, Inc		62
	182,988	*	StoneCo Ltd		3,984
	58,455		Sumisho Computer Systems Corp		2,586
	372,224		SUNeVision Holdings Ltd		215
	635,454	*	SVMK, Inc		8,585
	420,029		Switch, Inc		6,061
	97,301	*	Sykes Enterprises, Inc		2,639
	38,856	*,e	Synchronoss Technologies, Inc		119
	1,002,968	*	Synopsys, Inc		129,172
	42,138		Systena Corp		569
	268,000		Systex Corp		649
	836,364		Tata Consultancy Services Ltd		20,120
	48,418		Tata Elxsi Ltd		401
	163,625	*	TeamViewer AG.		6,653
	715,783		Tech Mahindra Ltd		5,332

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,800		TechMatrix Corp	$	872
	539,840		Technology One Ltd		2,608
	166,888	*	Telaria, Inc		1,001
	121,501	*	TeleNav, Inc		525
	48,725		Temenos Group AG.		6,351
	167,087	*	Tenable Holdings, Inc		3,653
	94,467	*	Teradata Corp		1,936
	39,967	*,e	Tietoenator Oyj		862
	124,275		TiVo Corp		880
	8,365		TKC		376
	190,500		Totvus S.A.		1,711
	75,283	*	Trade Desk, Inc		14,530
	91,600	*	Trans Cosmos, Inc/Japan		1,620
	618,000		Travelsky Technology Ltd		1,082
	67,524	*	Trend Micro, Inc		3,334
	21,133		TTEC Holdings, Inc		776
	9,236	*,e	Tucows, Inc		446
	183,061	*	Twilio, Inc		16,382
	61,066	*	Tyler Technologies, Inc		18,110
	195,263	*	Unisys Corp		2,411
	5,882	*	UNITED, Inc		44
	40,583	*	Upland Software, Inc		1,088
	230,672	*	Upwork, Inc		1,488
	100,195		Vakrangee Ltd		26
	35,110	*	Varonis Systems, Inc		2,235
	68,800	*	V-Cube, Inc		762
	31,700		Venustech Group, Inc		164
	229,785	*	Verint Systems, Inc		9,881
	148,888	*	VeriSign, Inc		26,813
	129,223	*	Verra Mobility Corp		923
	59,751	*,e	VirnetX Holding Corp		327
	29,005	*	Virtusa Corp		824
	4,698,695		Visa, Inc (Class A)		757,054
	66,333	*	VMware, Inc (Class A)		8,033
	157,900		Wangsu Science & Technology Co Ltd		171
	70,483		Western Union Co		1,278
	6,687	*	WEX, Inc		699
	1,520,681		Wipro Ltd		3,956
	139,564	e	Wirecard AG.		15,725
	138,653	e	Wisetech Global Ltd		1,441
	72,291	*	Wix.com Ltd		7,288
	225,826	*	Workday, Inc		29,407
	42,649	*	Workiva, Inc		1,379
	151,367	*,g	Worldline S.A.		8,934
	95,886	*,e	Yext, Inc		977
	121,920		Yonyou Network Technology Co Ltd		687
	169,385	*	Zendesk, Inc		10,842
	11,372		Zensar Technologies Ltd		13
	176,473	*,e	Zix Corp		761
	106,685	*,e	Zscaler, Inc		6,493
	315,933	*	Zuora Inc		2,543
			TOTAL SOFTWARE & SERVICES		9,638,304

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
TECHNOLOGY HARDWARE & EQUIPMENT - 5.4%
	114,543	*,e	3D Systems Corp	$	883
	488,922	e	AAC Technologies Holdings, Inc		2,493
	34,800		Accelink Technologies Co Ltd		152
	1,654,000		Accton Technology Corp		8,850
	1,890,130		Acer, Inc		974
	224,274		Adtran, Inc		1,722
	105,986	*	ADVA AG. Optical Networking		598
	9,000		Advanced Ceramic X Corp		78
	766,256		Advantech Co Ltd		6,314
	127,494	*	Agilysys, Inc		2,129
	19,106		Ai Holdings Corp		235
	9,288	*	Airgain Inc		69
	25,688	*,e	Akoustis Technologies, Inc		138
	341,715		Alps Electric Co Ltd		3,293
	18,011		ALSO Holding AG.		2,831
	40,650		Amano Corp		893
	293,218		Amphenol Corp (Class A)		21,370
	71,693	*	Anixter International, Inc		6,300
	168,576	e	Anritsu Corp		3,102
	9,796,525	d,n	Apple, Inc		2,491,158
	19,537	*,e	Applied Optoelectronics, Inc		148
	27,409		Arcadyan Technology Corp		61
	151,926	*	Arista Networks, Inc		30,773
	253,415	*	Arlo Technologies, Inc		616
	181,735	*	Arrow Electronics, Inc		9,427
	62,000		Asia Optical Co, Inc		124
	58,000		Asia Vital Components Co Ltd		57
	6,520		AstroNova Inc		51
	476,444		Asustek Computer, Inc		3,226
	17,000		Aten International Co Ltd		44
	5,800,593		AU Optronics Corp		1,209
	13,000	*	AURAS Technology Co Ltd		54
	121,800		Aurora Corp		339
	80,286		Austria Technologie & Systemtechnik AG.		1,163
	41,500	*	AVIC Jonhon Optronic Technology Co Ltd		199
	80,414	*	Avid Technology, Inc		541
	172,458		Avnet, Inc		4,329
	28,038		Badger Meter, Inc		1,503
	28,721	e	Barco NV		4,388
	1,919		Basler AG.		78
	9,811		Bel Fuse, Inc (Class B)		96
	38,527		Belden CDT, Inc		1,390
	35,237		Benchmark Electronics, Inc		704
	7,965,000		Benq Corp		3,889
	50,695	*	BH Co Ltd		642
	1,286,600		BOE Technology Group Co Ltd		663
	202,745		Brother Industries Ltd		3,071
	433,000	e	BYD Electronic International Co Ltd		712
	103,615	*	CalAmp Corp		466
	44,738	*	Calix, Inc		317
	4,666	*	Cambium Networks Corp		26
	198,000	*,†,e	Camsing International Holding Ltd		0	^
	9,900	*	Canon Electronics, Inc		146

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,090		Canon Marketing Japan, Inc	$	852
	312,548	*	Canon, Inc		6,792
	84,800		Career Technology Co Ltd		65
	15,580	g	Carel Industries S.p.A		200
	127,548	*	Casa Systems, Inc		446
	32,943		Casetek Holdings Ltd		39
	1,906,857		Catcher Technology Co Ltd		12,198
	558,557		CDW Corp		52,097
	125,051	*	Celestica, Inc		439
	92,800		Chaozhou Three-Circle Group Co Ltd		236
	6,000	*	Chaun-Choung Technology Corp		46
	1,318,602		Cheng Uei Precision Industry Co Ltd		1,261
	397,977		Chicony Electronics Co Ltd		994
	41,179		Chilisin Electronics Corp		109
	489,600	*,†	China Fiber Optic Network System Group Ltd		1
	133,400		China Greatwall Technology Group Co Ltd		222
	1,039,000	g	China Railway Signal & Communication Corp Ltd		518
	74,000		Chin-Poon Industrial Co		51
	74,840		Chroma ATE, Inc		305
	4,000		Chunghwa Precision Test Tech Co Ltd		94
	903,803	*	Ciena Corp		35,980
	9,754,973		Cisco Systems, Inc		383,468
	140,900		Citizen Watch Co Ltd		497
	9,625	*	Clearfield, Inc		114
	121,393		Clevo Co		115
	238,743	*	CMC Magnetics Corp		51
	22,900	*	CMK Corp		94
	4,766	*,e	Coda Octopus Group Inc		27
	265,774		Cognex Corp		11,221
	22,552	*	Coherent, Inc		2,400
	2,516,000	e	Comba Telecom Systems Holdings Ltd		996
	3,626		Comet Holding AG.		373
	884,805	*	CommScope Holding Co, Inc		8,061
	2,444,388		Compal Electronics, Inc		1,395
	2,380,000		Compeq Manufacturing Co		2,429
	198,907		Comtech Telecommunications Corp		2,643
	12,913		Concraft Holding Co Ltd		41
	130,600		Coretronic Corp		120
	725,045		Corning, Inc		14,892
	32,827		CTS Corp		817
	14,440		Daea TI Co Ltd		48
	307,528		Daeduck Electronics Co		1,818
	135,850		Daiwabo Co Ltd		6,497
	35,334		Daktronics, Inc		174
	1,625,000		Darfon Electronics Corp		1,594
	6,804	*	DASAN Zhone Solutions, Inc		28
	10,595	e	Datalogic S.p.A.		124
	41,218		DataTec Ltd		65
	39,700	*	Dawning Information Industry Co Ltd		242
	187,153	*	Dell Technologies, Inc		7,402
	1,262,999		Delta Electronics, Inc		4,999
	4,699		Denki Kogyo Co Ltd		108
	28,101		Dexerials Corp		180
	155,762		Dicker Data Ltd		554

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	257,007	*	Diebold, Inc	$	905
	87,405	*	Digi International, Inc		834
	59,113		Dolby Laboratories, Inc (Class A)		3,205
	71,384	*	EchoStar Corp (Class A)		2,282
	13,000		Egis Technology, Inc		63
	14,171		Eizo Nanao Corp		414
	10,200		Elecom Co Ltd		354
	1,650,884		Electrocomponents plc		10,511
	8,700		Elematec Corp		62
	569,654		Elite Material Co Ltd		1,981
	11,807		Ennoconn Corp		58
	4,700		Enplas Corp		92
	54,910	*	ePlus, Inc		3,438
	3,173,841	*,e	Ericsson (LM) (B Shares)		25,692
	8,801		ESPEC Corp		133
	30,287		Evertz Technologies Ltd		282
	114,123	*	Extreme Networks, Inc		353
	184,549	*	F5 Networks, Inc		19,678
	154,312	*	Fabrinet		8,419
	17,116	*	FARO Technologies, Inc		762
	64,100		Fiberhome Telecommunication Technologies Co Ltd		294
	12,343,524	*,e	FIH Mobile Ltd		1,368
	270,928	*,e	Fingerprint Cards AB		352
	43,352		Firich Enterprises Co Ltd		36
	296,909	*	Fitbit, Inc		1,977
	666,339		FLEXium Interconnect, Inc		2,076
	213,717		FLIR Systems, Inc		6,815
	22,310		Flytech Technology Co Ltd		44
	136,900		Foxconn Industrial Internet Co Ltd		251
	1,363,266		Foxconn Technology Co Ltd		2,220
	278,829		Fujifilm Holdings Corp		13,741
	62,000		General Interface Solution Holding Ltd		161
	14,378		Genius Electronic Optical Co Ltd		194
	1,489,000		Getac Technology Corp		2,075
	1,833,000		Gigabyte Technology Co Ltd		3,077
	15,984	*	Gilat Satellite Networks Ltd		118
	2,608,000		Glory Sun Financial Group Ltd		87
	90,900		GoerTek, Inc		207
	95,600		GRG Banking Equipment Co Ltd		115
	283,700	*	Guangdong LY Intelligent Manufacturing Co Ltd		324
	86,000		Guangzhou Haige Communications Group, Inc Co		135
	988,612		Halma plc		23,219
	23,184		Hamamatsu Photonics KK		942
	1,651,658		Hangzhou Hikvision Digital Technology Co Ltd		6,413
	884,000		Hannstar Board Corp		959
	524,330		HannStar Display Corp		89
	310,157	*	Harmonic, Inc		1,786
	102,100		Hengtong Optic-electric Co Ltd		229
	1,049,697		Hewlett Packard Enterprise Co		10,193
	67,685		Hexagon AB (B Shares)		2,862
	146,000		High Tech Computer Corp		136
	4,800		Hioki EE Corp		136
	28,358		Hirose Electric Co Ltd		2,923

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	331,807		Hitachi High-Technologies Corp	$	24,511
	4,847,252	*	Hitachi Ltd		139,244
	45,286		Hochiki Corp		571
	22,300		Holitech Technology Co Ltd		17
	28,470		Holystone Enterprise Co Ltd		83
	22,977,033		Hon Hai Precision Industry Co, Ltd		52,899
	27,999		Horiba Ltd		1,383
	397,600		Hosiden Corp		2,761
	7,018,193		HP, Inc		121,836
	4,600	*,e	Huami Corp (ADR)		60
	57,732		Hubei Kaile Science & Technology Co Ltd		107
	10,100		Hytera Communications Corp Ltd		8
	1,387,504		Ibiden Co Ltd		30,281
	4,900		Icom, Inc		115
	24,756		IEI Integration Corp		24
	99,820	*,e	II-VI, Inc		2,845
	4,846		Iljin Materials Co Ltd		123
	32,955	*	Immersion Corp		177
	532,670		Inari Amertron BHD		151
	1,921	e	Inficon Holding AG.		1,221
	207,846	*	Infinera Corp		1,102
	73,715		Ingenico		7,705
	5,555,419		InnoLux Display Corp		957
	45,317	*,e	Inseego Corp		282
	148,228	*	Insight Enterprises, Inc		6,245
	66,640		Inspur Electronic Information Industry Co Ltd		355
	30,721		InterDigital, Inc		1,371
	1,469,935		Inventec Co Ltd		1,127
	37,862	*	IPG Photonics Corp		4,175
	10,200	e	Iriso Electronics Co Ltd		298
	23,673	*	Isra Vision AG.		1,294
	8,200		ITC Networks Corp		103
	788,977		ITEQ Corp		3,480
	78,014	*	Iteris, Inc		250
	136,964	*	Itron, Inc		7,647
	29,021		Ituran Location and Control Ltd		412
	221,450		Jabil Inc		5,443
	23,942		Japan Aviation Electronics Industry Ltd		286
	9,800		Japan Cash Machine Co Ltd		49
	4,090,954	*,e	Japan Display, Inc		1,841
	33,609		Jenoptik AG.		543
	423,731		Juniper Networks, Inc		8,110
	31,300		Kaga Electronics Co Ltd		490
	2,647		Kapsch TrafficCom AG.		50
	157,400		KCE Electronics PCL		65
	56,963		Kemet Corp		1,376
	77,928		Keyence Corp		25,055
	963,709	*	Keysight Technologies, Inc		80,643
	88,921	*	Kimball Electronics, Inc		971
	507,000		Kingboard Chemical Holdings Ltd		1,175
	1,068,500		Kingboard Laminates Holdings Ltd		978
	23,047	*,e	KMW Co Ltd		934
	533,099	*	Knowles Corp		7,133
	12,600		Koa Corp		103

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	84,756		Konica Minolta Holdings, Inc	$	341
	20,473	e	Kudelski S.A.		65
	18,516	*	KVH Industries, Inc		175
	204,293		Kyocera Corp		12,055
	42,909		Landis&Gyr Group AG.		2,936
	112,766		Largan Precision Co Ltd		14,239
	456,900	g	Legend Holdings Corp		559
	237		LEM Holding S.A.		262
	4,687,653		Lenovo Group Ltd		2,483
	171,000		Lens Technology Co Ltd		346
	19,800		Leyard Optoelectronic Co Ltd		17
	13,403		LG Innotek Co Ltd		1,233
	171,419	*	LG.Philips LCD Co Ltd		1,540
	1,377,160		Lite-On Technology Corp		1,873
	35,989	e	Littelfuse, Inc		4,802
	235,770		Logitech International S.A.		10,097
	24,995		Lotes Co Ltd		225
	169,532	*	Lumentum Holdings, Inc		12,494
	256,505		Luxshare Precision Industry Co Ltd		1,360
	24,594		Macnica Fuji Electronics Holdings, Inc		302
	4,500		Maruwa Co Ltd		272
	23,600		Maxell Holdings Ltd		231
	98,700		Mcj Co Ltd		542
	97,601		Mcnex Co Ltd		2,065
	24,100	e	Meiko Electronics Co		295
	455,500	*,g	Meitu, Inc		86
	9,724	*	Melco Holdings, Inc		196
	368,076		Merry Electronics Co Ltd		1,509
	131,971		Methode Electronics, Inc		3,488
	185,673	e	Micronic Laser Systems AB		2,251
	490,000		Micro-Star International Co Ltd		1,432
	211,328		Mitac Holdings Corp		189
	616,228		Motorola Solutions, Inc		81,909
	19,824		MTS Systems Corp		446
	517,370		Murata Manufacturing Co Ltd		25,721
	46,000		Nan Ya Printed Circuit Board Corp		83
	12,735	*	Napco Security Technologies, Inc		193
	605,555		National Instruments Corp		20,032
	21,700		NAURA Technology Group Co Ltd		352
	157,082	*	NCR Corp		2,780
	60,559		Neopost S.A.		1,063
	194,116		NetApp, Inc		8,093
	30,459	*	Netgear, Inc		696
	70,379	*	Netscout Systems, Inc		1,666
	16,412	*	Newmax Technology Co Ltd		24
	262,626	e	Nichicon Corp		1,632
	37,100		Ninestar Corp		139
	10,600		Nippon Ceramic Co Ltd		180
	7,700		Nippon Chemi-Con Corp		84
	41,400		Nippon Electric Glass Co Ltd		551
	183,000		Nippon Signal Co Ltd		1,782
	19,860		Nissha Printing Co Ltd		131
	32,363	*	nLight, Inc		339

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	49,376		Nohmi Bosai Ltd	$	911
	1		Nokia Corp (ADR)		0	^
	4,706,002		Nokia Oyj (Turquoise)		14,494
	9,351	e	Noritsu Koki Co Ltd		80
	48,104	*	Novanta, Inc		3,843
	135,200	*	O-film Tech Co Ltd		258
	4,000	e	Ohara, Inc		32
	375,900		Oki Electric Industry Co Ltd		3,514
	212,599		Omron Corp		10,992
	196,000		O-Net Communications Group		118
	16,779		Optex Co Ltd		154
	139,500		Osaki Electric Co Ltd		687
	79,313	*	OSI Systems, Inc		5,466
	79,224		Pan-International Industrial		44
	11,556	*,e	PAR Technology Corp		149
	16,480		Park Aerospace Corp		208
	7,967		Partron Co Ltd		49
	1,801,000		PAX Global Technology Ltd		676
	23,742		PC Connection, Inc		978
	1,231,817		Pegatron Technology Corp		2,351
	33,157	e	Plantronics, Inc		334
	51,835	*,e	Plexus Corp		2,828
	1,380,000		Primax Electronics Ltd		1,748
	2,457,000		Prime View International Co Ltd		1,979
	11,863,600		PT Erajaya Swasembada Tbk		672
	611,511	*	Pure Storage, Inc		7,522
	1,831,838		Quanta Computer, Inc		3,627
	37,000		Quanta Storage, Inc		33
	41,399	*	Radware Ltd		872
	243,179		Redington India Ltd		219
	18,879		Renishaw plc		733
	248,377	*	Ribbon Communications, Inc		753
	155,803		Ricoh Co Ltd		1,138
	6,900		Riken Keiki Co Ltd		130
	10,998		Riso Kagaku Corp		166
	297,202	*	Ritek Corp		41
	28,813	*,e	Rogers Corp		2,721
	6,416		Roland DG Corp		69
	9,733		Ryosan Co Ltd		214
	49,100	e	Ryoyo Electro Corp		935
	23,997		S&T AG.		446
	2,284	e	SAES Getters S.p.A.		46
	36,977	e	Samsung Electro-Mechanics Co Ltd		2,930
	7,650,960	*	Samsung Electronics Co Ltd		297,481
	905,790		Samsung Electronics Co Ltd (Preference)		29,518
	52,782		Samsung SDI Co Ltd		10,276
	1,615		Samwha Capacitor Co Ltd		53
	395,070	*	Sanmina Corp		10,778
	5,100		Sanshin Electronics Co Ltd		66
	24,493	*	Scansource, Inc		524
	2,818		Seagate Technology, Inc		138
	67,460		Seiko Epson Corp		726
	4,403	*,e,g	Sensirion Holding AG.		165
	2,675		Seojin System Co Ltd		56

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	287,000		Sercomm Corp	$	595
	41,033		Sesa S.p.A		1,765
	70,735		SFA Engineering Corp		1,788
	103,600	*	Shengyi Technology Co Ltd		380
	16,700	*	Shennan Circuits Co Ltd		457
	41,400	*	Shenzhen Sunway Communication Co Ltd		197
	22,370		Shimadzu Corp		584
	40,882	*,e	Sierra Wireless, Inc		231
	14,200	e	Siix Corp		114
	1,164,600		Simplo Technology Co Ltd		10,136
	348,423		Sinbon Electronics Co Ltd		1,434
	1,036		Sindoh Co Ltd		19
	99,634	e	Smart Metering Systems plc		822
	480,947	*	Softwareone Holding AG.		9,504
	95,959		Spectris plc		2,891
	1,179,566		Spirent Communications plc		2,992
	206,681		Sterlite Technologies Ltd		173
	51,165	*,e	Stratasys Ltd		816
	1,436,800		Sunny Optical Technology Group Co Ltd		19,006
	3,114,000		Supreme Electronics Co Ltd		3,095
	53,300		Suzhou Dongshan Precision Manufacturing Co Ltd		151
	38,454	*	Synaptics, Inc		2,225
	22,250		Syncmold Enterprise Corp		47
	90,668		Synnex Corp		6,628
	871,413		Synnex Technology International Corp		1,065
	11,273	*	Taihan Fiberoptics Co Ltd		19
	58,000		Taiwan Union Technology Corp		231
	201,460	e	Taiyo Yuden Co Ltd		5,261
	36,700		Tamura Corp		133
	134,323		TDK Corp		10,328
	796,097		TE Connectivity Ltd		50,138
	68,756	*	Tech Data Corp		8,997
	17,309	*	TELCON, Inc		90
	3,050,395	*	Telefonaktiebolaget Lm Ericsson (ADR)		24,678
	9,437		Tessco Technologies, Inc		46
	30,495		Test Research, Inc		46
	13,000		Thinking Electronic Industrial Co Ltd		31
	117,500		Tianma Microelectronics Co Ltd		218
	42,929	*,e	Tobii AB		111
	30,625		Tong Hsing Electronic Industries Ltd		109
	800,000	e	Tongda Group Holdings Ltd		45
	53,256		Topcon Corp		391
	59,885		Toshiba TEC Corp		1,878
	1,441,000	*	TPK Holding Co Ltd		1,641
	37,000		Transcend Information, Inc		81
	252,083	*	Trimble Inc		8,024
	1,861,832		Tripod Technology Corp		5,792
	338,000	*	Truly International Holdings		38
	98,146	*	TTM Technologies, Inc		1,015
	479,500		Tunghsu Optoelectronic Technology Co Ltd		201
	62,039		TXC Corp		90
	13,237	e	Ubiquiti, Inc		1,874
	27,000		Unigroup Guoxin Microelectronics Co Ltd		188

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	8,785,883		Unimicron Technology Corp	$	9,221
	84,300		Unisplendour Corp Ltd		414
	116,500		Unitech Printed Circuit Board Corp		74
	103,400		Universal Scientific Industrial Shanghai Co Ltd		229
	4,705		V Technology Co Ltd		135
	430,300		Venture Corp Ltd		4,099
	83,377	*,e	Viasat, Inc		2,995
	424,416	*	Viavi Solutions, Inc		4,758
	129,949		Vishay Intertechnology, Inc		1,873
	41,985	*	Vishay Precision Group, Inc		843
	3,480,475		VS Industry BHD		612
	340,800		VST Holdings Ltd		158
	292,720		Vtech Holdings Ltd		2,108
	73,500		Wacom Co Ltd		215
	567,000		Wah Lee Industrial Corp		893
	1,215,000		Walsin Technology Corp		6,419
	104,000		Wasion Group Holdings Ltd		35
	857,908		Western Digital Corp		35,706
	40,000		Westone Information Industry, Inc		125
	45,900	*	Wingtech Technology Co Ltd		652
	190,500	*,†,b	Wintek Corp		0	^
	4,287		WiSoL Co Ltd		31
	1,923,013		Wistron Corp		1,555
	1,806,556		Wistron NeWeb Corp		3,099
	70,000	*	Wiwynn Corp		1,610
	918,593		WPG Holdings Co Ltd		1,075
	7,815	*,e	Wrap Technologies Inc		33
	1,598,956		WT Microelectronics Co Ltd		1,802
	57,900		Wuhan Guide Infrared Co Ltd		274
	83,600	*	WUS Printed Circuit Kunshan Co Ltd		277
	37,100		Wuxi Lead Intelligent Equipment Co Ltd		194
	152,220		Xerox Holdings Corp		2,883
	6,533,000	*,e,g	Xiaomi Corp		8,674
	15,750	*,†	Ya Hsin Industrial Co Ltd		0
	264,994		Yageo Corp		2,380
	83,397		Yamatake Corp		2,155
	11,298		Yaskawa Electric Corp		307
	20,800		Yealink Network Technology Corp Ltd		236
	23,309		Yokogawa Electric Corp		279
	15,700		Yokowo Co Ltd		314
	85,228	*	Zebra Technologies Corp (Class A)		15,648
	108,200		Zhejiang Dahua Technology Co Ltd		244
	1,244,485		Zhen Ding Technology Holding Ltd		3,803
	195,200	*	ZTE Corp		1,168
	484,418	*,e	ZTE Corp (Class H)		1,479
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		4,868,793
TELECOMMUNICATION SERVICES - 2.3%
	3,480,889		Advanced Info Service PCL (Foreign)		21,105
	147,493		AFK Sistema		490
	459,000		AFK Sistema (London)		1,504
	1,156,152	e,g	Airtel Africa plc		582
	36,490,984		America Movil S.A. de C.V. (Series L)		21,612
	51,149	*	Anterix, Inc		2,336

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	13,100		ARTERIA Networks Corp	$	222
	393,929	*	Asia Pacific Telecom Co Ltd		74
	17,342,053		AT&T, Inc		505,521
	10,952		ATN International, Inc		643
	220,900	*	Axtel SAB de C.V.		27
	37,914	*	Bandwidth Inc		2,551
	211,520		BCE, Inc		8,677
	3,727,367	*	Bezeq Israeli Telecommunication Corp Ltd		2,707
	3,200,181	*	Bharti Airtel Ltd		18,651
	610,803		Bharti Infratel Ltd		1,292
	49,484	*	Boingo Wireless, Inc		525
	8,939,601		BT Group plc		13,003
	359,858	*	Cellcom Israel Ltd		1,044
	208,922	g	Cellnex Telecom SAU		9,477
	1,639,009		CenturyLink, Inc		15,505
	5,000	*	Chief Telecom, Inc		45
	4,040,249		China Mobile Hong Kong Ltd		30,279
	9,267,057		China Telecom Corp Ltd		2,808
	109,939,800	g	China Tower Corp Ltd		24,429
	19,611,981		China Unicom Ltd		11,439
	1,855,500		China United Network Communications Ltd		1,351
	442,751		Chorus Ltd		1,820
	2,520,188		Chunghwa Telecom Co Ltd		8,935
	188,461	*	Cincinnati Bell, Inc		2,759
	7,580,000		Citic 1616 Holdings Ltd		2,501
	255,112		Cogent Communications Group, Inc		20,912
	95,561		Consolidated Communications Holdings, Inc		435
	4,358,390	*	Deutsche Telekom AG.		56,290
	1,709,539		Digi.Com BHD		1,722
	237,867	e	Elisa Oyj (Series A)		14,682
	1,559,151		Emirates Telecommunications Group Co PJSC		5,891
	116,661	*	Empresa Nacional de Telecomunicaciones S.A.		493
	1,692,070	*	Etihad Etisalat Co		9,724
	110,517	g	Euskaltel S.A.		821
	1,094,336		Far EasTone Telecommunications Co Ltd		2,285
	87,215		Freenet AG.		1,526
	72,586		Globe Telecom, Inc		2,751
	50,755	*,e	Gogo, Inc		108
	208,059		Hellenic Telecommunications Organization S.A.		2,515
	1,450,683		Himachal Futuristic Communications		173
	354,620		HKBN Ltd		558
	3,432,079		HKT Trust and HKT Ltd		4,668
	2,848,651		Hutchison Telecommunications Hong Kong Holdings Ltd		467
	1,814,622	*	Idea Cellular Ltd		74
	155,820	*	IDT Corp (Class B)		845
	13,857	e	Iliad S.A.		1,867
	202,049	g	Infrastrutture Wireless Italiane S.p.A		2,188
	19,736	*	Inscobee, Inc		38
	29,200		Internet Initiative Japan, Inc		958
	1,928,600		Intouch Holdings PCL (Class F)		2,921
	140,529	*	Iridium Communications, Inc		3,138
	10,769,400	*	Jasmine International PCL		1,597

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,872,390		KDDI Corp	$	55,308
	4,843,501		Koninklijke KPN NV		11,583
	222,725	*,†,e	Let’s GOWEX S.A.		2
	137,059		LG Telecom Ltd		1,204
	1,092,774		Magyar Telekom		1,217
	99,006	*	Masmovil Ibercom S.A.		1,562
	1,402,190		Maxis BHD		1,740
	80,468		Millicom International Cellular S.A.		2,236
	88,010	*	Mobile Telecommunications Co Saudi Arabia		221
	951,714		Mobile TeleSystems (ADR)		7,233
	106,601		Mobistar S.A.		1,874
	1,703,571	e	MTN Group Ltd		4,568
	6,150,935		NetLink NBN Trust		3,906
	2,529,026		Nippon Telegraph & Telephone Corp		60,486
	1,160,853		NTT DoCoMo, Inc		36,303
	120,582	*	Ooma, Inc		1,439
	606,038		Ooredoo QSC		970
	2,140,506		Orange S. A.		25,916
	72,856	*	ORBCOMM, Inc		178
	71,097	*	Partner Communications		266
	7,419,327		PCCW Ltd		4,068
	322,474	g	PLAY Communications S.A.		2,261
	60,422		PLDT, Inc		1,336
	321,312		Proximus plc		7,379
	11,428,400	*	PT Excelcomindo Pratama		1,393
	318,300	*	PT Indosat Tbk		30
	1,831,100		PT Link Net Tbk		296
	32,338,624		PT Telekomunikasi Indonesia Persero Tbk		6,281
	328,996		Rogers Communications, Inc (Class B)		13,732
	33,013	*	Rostelecom (ADR)		181
	152,753	*	Rostelecom (ADR) (OTC US)		842
	15,373,473		Safaricom plc		3,843
	345,577		Saudi Telecom Co		8,009
	55,944	*	Sejong Telecom, Inc		11
	87,106		Shenandoah Telecom Co		4,290
	8,835,305		Singapore Telecommunications Ltd		15,774
	7,200		Singapore Telecommunications Ltd		13
	12,139		SK Telecom Co Ltd		1,766
	176,141		SmarTone Telecommunications Holding Ltd		103
	1,010,240	e	Softbank Corp		12,869
	1,560,716		Softbank Group Corp		55,253
	17,877		Spok Holdings, Inc		191
	918,971	*	Sprint Corp		7,922
	281,600		StarHub Ltd		263
	82,685	g	Sunrise Communications Group AG.		6,627
	36,780	e	Swisscom AG.		19,695
	2,257,842		Taiwan Mobile Co Ltd		7,455
	356,691	e	TalkTalk Telecom Group plc		373
	14,473		Tata Communications Ltd		44
	545,496		Tele2 AB (B Shares)		7,268
	76,700	e	Telecom Argentina S.A. (ADR) (Class B)		707
	2,668,960		Telecom Corp of New Zealand Ltd		6,496
	922,263		Telecom Egypt		615
	16,644,397		Telecom Italia RSP		6,503

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,441,752	*,e	Telecom Italia S.p.A.	$	3,822
	984,999		Telefonica Brasil S.A.		9,374
	913,482		Telefonica Deutschland Holding AG.		2,243
	5,112,453	e	Telefonica S.A.		23,267
	342,621		Telekom Austria AG.		2,392
	4,169,202		Telekom Malaysia BHD		3,630
	1,618,185	*	Telekomunikacja Polska S.A.		2,310
	693,404		Telenor ASA		10,135
	150,894		Telephone & Data Systems, Inc		2,529
	274,801	*,e	Telesites SAB de C.V.		177
	2,794,891	e	TeliaSonera AB		10,004
	295,553		Telkom S.A. Ltd		336
	4,165,879		Telstra Corp Ltd		7,820
	453,490		TELUS Corp		7,170
	1,290,284		Tim Participacoes S.A.		3,089
	110,720		Time dotCom BHD		236
	1,889,886		TM International BHD		1,434
	1,409,859	*	T-Mobile US, Inc		118,287
	2,052,100		Total Access Communication PCL (Foreign)		2,537
	1,899,500		Tower Bersama Infrastructure		105
	554,196		TPG Telecom Ltd		2,360
	7,187,970		True Corp PCL (Foreign)		685
	3,091,105		Turkcell Iletisim Hizmet AS		5,741
	128,053		United Internet AG.		3,723
	26,922	*	US Cellular Corp		789
	9,930,192		Verizon Communications, Inc		533,549
	601,542	*,e	Vision, Inc		3,723
	321,929	*	Vocus Communications Ltd		492
	537,328		Vodacom Group Pty Ltd		3,515
	34,718,028		Vodafone Group plc		48,030
	257,800		Vodafone Group plc (ADR)		3,550
	349,666		Vodafone Qatar		83
	517,439	*	Vonage Holdings Corp		3,741
			TOTAL TELECOMMUNICATION SERVICES		2,096,540
TRANSPORTATION - 1.8%
	52,528	*,†,e	Abertis Infraestructuras S.A. (Continuous)		1,064
	49,914		Aegean Airlines S.A.		225
	134,812	g	Aena S.A.		14,626
	24,399	g	Aeroflot PJSC (GDR)		123
	24,639		Aeroports de Paris		2,380
	7,406,318		Air Arabia PJSC		1,918
	238,843	*	Air Canada		2,673
	141,600		Air China Ltd		128
	1,249,325		Air China Ltd (H shares)		798
	252,160	*	Air France-KLM		1,403
	291,000		Air New Zealand Ltd		146
	81,512	*	Air Transport Services Group, Inc		1,490
	1,282,600	*	AirAsia BHD		234
	2,802,200		Airports of Thailand PCL (Foreign)		4,313
	304,567		Alaska Air Group, Inc		8,671
	52,377	g	ALD S.A.		460
	78,980	e	All Nippon Airways Co Ltd		1,924

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,636		Allegiant Travel Co	$	1,034
	13,285		Amerco, Inc		3,860
	944,948	e	American Airlines Group, Inc		11,519
	82,000		Anhui Expressway Co		40
	4,656		AP Moller - Maersk AS (Class A)		3,824
	8,875	e	AP Moller - Maersk AS (Class B)		7,866
	76,581		ArcBest Corp		1,342
	123,795	*	Asia Aviation PCL		4
	395,905	*	Asia Aviation PCL (Foreign)		13
	356,082	*	Asiana Airlines		969
	22,912	*	Atlas Air Worldwide Holdings, Inc		588
	831,353		Atlas Arteria Ltd		2,808
	374,791	e	Atlas Corp		2,882
	808,574		Auckland International Airport Ltd		2,409
	128,988		Autostrada Torino-Milano S.p.A.		2,273
	476,787		Autostrade S.p.A.		5,923
	66,109		Avianca Holdings S.A.		8
	89,044	*,e	Avis Budget Group, Inc		1,238
	309,000	*	Azul S.A.		1,044
	130,400		Bangkok Airways Co Ltd		16
	40,500		Bangkok Aviation Fuel Services PCL		23
	37,330,053		Bangkok Expressway & Metro PCL		8,785
	1,249,297		Beijing Capital International Airport Co Ltd		793
	172,400	*	BEST, Inc (ADR)		922
	4,957		Blue Dart Express Ltd		143
	1,325,642		Bollore		3,603
	51,857		bpost S.A.		366
	6,569,127		BTS Group Holdings PCL		1,822
	726,467		Canadian National Railway Co		56,799
	136,022		Canadian Pacific Railway Ltd (Toronto)		30,016
	157,000	*,e	CAR, Inc		88
	107,160	e	Cathay Pacific Airways Ltd		114
	539,440		Cebu Air, Inc		480
	207,845		Central Japan Railway Co		33,312
	215,731		CH Robinson Worldwide, Inc		14,281
	1,300,635		China Airlines		283
	1,283,000	*	China COSCO Holdings Co Ltd		350
	319,900	*	China Eastern Airlines Corp Ltd		184
	1,082,000	*,e	China Eastern Airlines Corp Ltd (H Shares)		371
	1,047,081		China Merchants Holdings International Co Ltd		1,189
	978,000	e	China Southern Airlines Co Ltd		414
	256,100		China Southern Airlines Co Ltd (Class A)		184
	88,800	e	Chorus Aviation, Inc		186
	1,863,099		Cia de Concessoes Rodoviarias		4,206
	150,195		Cia de Distribucion Integral Logista Holdings SAU		2,411
	372,300		Cia de Locacao das Americas		752
	831,380		ComfortDelgro Corp Ltd		885
	26,006,075	*	Compania SudAmericana de Vapores S.A.		515
	166,560		Container Corp Of India Ltd		729
	134,400	*,e	Controladora Vuela Cia de Aviacion SAB de C.V.		47
	48,392		Copa Holdings S.A. (Class A)		2,192
	6,381	*,e	Corp America Airports S.A.		12
	29,063	*	Cosan Logistica S.A.		94
	592,800	*	Cosco Corp Singapore Ltd		71

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,134,000		Cosco International Holdings Ltd	$	317
	1,336,825		COSCO Pacific Ltd		640
	244,700	*	COSCO SHIPPING Holdings Co Ltd		140
	125,101		Costamare, Inc		565
	87,199	*	Covenant Transportation Group, Inc		756
	1,914,879		CSX Corp		109,723
	62,047		CTT-Correios de Portugal S.A.		156
	14,240	e	D/S Norden		159
	551,100	*	Dalian Port PDA Co Ltd		134
	809,200		Daqin Railway Co Ltd		772
	175,616	e	Dart Group plc		1,186
	185,646	*,e	Daseke, Inc		260
	1,081,415		Delta Air Lines, Inc		30,853
	365,617	e	Deutsche Lufthansa AG.		3,420
	1,170,320		Deutsche Post AG.		31,375
	18,243	e	Dfds A.S.		410
	295,710		DP World Ltd		4,445
	526,128		DSV AS		47,840
	43,880	*,e	Eagle Bulk Shipping, Inc		81
	298,827		East Japan Railway Co		22,612
	347,232	e	easyJet plc		2,406
	103,196	*	Echo Global Logistics, Inc		1,763
	877,800	*	EcoRodovias Infraestrutura e Logistica S.A.		1,596
	552,223	g	Enav S.p.A		2,435
	55,321	e,g	Europcar Groupe S.A.		87
	1,016,271		Eva Airways Corp		297
	99,000		Evergreen International Storage & Transport Corp		38
	1,599,563	*	Evergreen Marine Corp Tawain Ltd		487
	40,391	e	Exchange Income Corp		509
	276,631		Expeditors International of Washington, Inc		18,457
	366,729		FedEx Corp		44,470
	26,394	e	Finnair Oyj		105
	630,303	*	Firstgroup plc		388
	23,280		Flughafen Zuerich AG.		2,604
	107,210		Forward Air Corp		5,430
	34,752		Fraport AG. Frankfurt Airport Services Worldwide		1,399
	68,926		Fukuyama Transporting Co Ltd		2,453
	136,169		Genco Shipping & Trading Ltd		874
	367,944		Getlink S.E.		4,450
	21,817		GLOVIS Co Ltd		1,615
	173,658	*	GMR Infrastructure Ltd		37
	116,988		Go-Ahead Group plc		1,185
	223,800	*	Gol Linhas Aereas Inteligentes S.A.		490
	425,273		Golden Ocean Group Ltd		1,324
	95,825		Grindrod Ltd		16
	80,700	*	Grupo Aeromexico SAB de C.V.		33
	87,500		Grupo Aeroportuario del Centro Norte Sab de C.V.		296
	498,431		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		2,677
	297,490	e	Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		2,801
	59,800	*,e,g	Grupo Traxion SAB de C.V.		30
	798,900		Guangshen Railway Co Ltd		265
	98,100		Guangzhou Baiyun International Airport Co Ltd		172

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	136,629		Gujarat Pipavav Port Ltd	$	109
	306,738		Gulf Warehousing Co		351
	8,000		Hamakyorex Co Ltd		194
	64,002		Hamburger Hafen und Logistik AG.		887
	7,436		Hanjin Kal Corp		450
	1,635		Hanjin Transportation Co Ltd		41
	72,492		Hankyu Hanshin Holdings, Inc		2,435
	48,169		Hawaiian Holdings, Inc		503
	90,946		Heartland Express, Inc		1,689
	162,431	*	Hertz Global Holdings, Inc		1,004
	23,225		Hitachi Transport System Ltd		504
	6,827		Hopewell Highway Infrastructure Ltd		2
	257,532	*	Hub Group, Inc (Class A)		11,710
	10,338,687		Hutchison Port Holdings Trust		1,063
	53,270	*	Hyundai Merchant Marine Co Ltd		134
	1,316	*	ID Logistics Group		206
	204,457	e	Iino Kaiun Kaisha Ltd		584
	42,521		Imperial Holdings Ltd		62
	77,692	g	InterGlobe Aviation Ltd		1,100
	907,667		International Container Term Services, Inc		1,327
	131,813	e	Japan Airlines Co Ltd		2,422
	95,250	e	Japan Airport Terminal Co Ltd		3,661
	13,628		JB Hunt Transport Services, Inc		1,257
	2,108	*	Jeju Air Co Ltd		29
	445,404	*	JetBlue Airways Corp		3,986
	904,034		Jiangsu Express		1,005
	2,044	*	Jin Air Co Ltd		18
	37,174		John Menzies plc		35
	12,900		Julio Simoes Logistica S.A.		32
	223,384		Kamigumi Co Ltd		3,771
	632,692		Kansas City Southern		80,466
	208,037	*	Kawasaki Kisen Kaisha Ltd		1,546
	29,430		Keihin Electric Express Railway Co Ltd		495
	23,970	e	Keio Corp		1,415
	21,289		Keisei Electric Railway Co Ltd		615
	312,009		Kerry Logistics Network Ltd		385
	174,766		Kintetsu Corp		8,089
	55,400		Kintetsu World Express, Inc		809
	87,466	*	Kirby Corp		3,802
	206,980	e	Knight-Swift Transportation Holdings, Inc		6,789
	13,368		Konoike Transport Co Ltd		143
	6,508	*	Korea Express Co Ltd		722
	2,342	*	Korea Line Corp		25
	36,074	*	Korean Air Lines Co Ltd		546
	67,122		Kuehne & Nagel International AG.		9,143
	25,116	e	Kyushu Railway Co		721
	196,049		Lan Airlines S.A.		500
	39,455		Landstar System, Inc		3,782
	500,426		Localiza Rent A Car		2,533
	760,215	*	Lyft, Inc (Class A)		20,412
	109,814		Macquarie Infrastructure Co LLC		2,773
	100,940		MacroAsia Corp		9
	537,400	g	Mahindra Logistics Ltd		1,602
	2,882,520		Malaysia Airports Holdings BHD		2,880

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	279,712		Marten Transport Ltd	$	5,740
	39,400	e	Maruwa Unyu Kikan Co Ltd		888
	56,284		Maruzen Showa Unyu Co Ltd		1,238
	41,436		Matson, Inc		1,269
	172,529	*	Mesa Air Group, Inc		568
	4,969,156		MISC BHD		8,525
	43,978	e	Mitsubishi Logistics Corp		885
	107,585		Mitsui OSK Lines Ltd		1,724
	121,130		Mitsui-Soko Co Ltd		1,561
	168,300		MMC Corp BHD		23
	51,800		Movida Participacoes S.A.		81
	1,387,160		MTR Corp		7,135
	112,616		Mullen Group Ltd		328
	501,433		Mundra Port and Special Economic Zone Ltd		1,666
	134,035	e	Nagoya Railroad Co Ltd		3,768
	80,127		Nankai Electric Railway Co Ltd		1,820
	1,002,523		National Express Group plc		2,538
	287,000		Ningbo Zhoushan Port Co Ltd		142
	66,082		Nippon Express Co Ltd		3,223
	205,700		Nippon Konpo Unyu Soko Co Ltd		4,011
	171,090		Nippon Yusen Kabushiki Kaisha		2,021
	30,900	e	Nishi-Nippon Railroad Co Ltd		759
	6,570		Nissin Corp		97
	408,668	g	Nobina AB		2,208
	57,883		Norfolk Southern Corp		8,451
	480,356		Northgate plc		826
	71,729	*,e	Norwegian Air Shuttle AS		61
	56,048		Odakyu Electric Railway Co Ltd		1,231
	79,024	e	Oesterreichische Post AG.		2,819
	150,318		Old Dominion Freight Line		19,731
	2,299,290		Pacific Basin Shipping Ltd		273
	1,625	*	PAM Transportation Services, Inc		50
	11,239		Park-Ohio Holdings Corp		213
	7,978	*	Pegasus Hava Tasimaciligi AS.		41
	12,439		Piraeus Port Authority		212
	47,965		PKP Cargo S.A.		118
	73,900		Pos Malaysia & Services Holdings BHD		12
	158,650	*	Precious Shipping PCL		12
	202,537	*,e	Promotora y Operadora de Infraestructura SAB de C.V.		1,359
	1,881,023		PT Jasa Marga Tbk		292
	5,648,600	*,†	PT Trada Maritime Tbk		17
	332,445		Qantas Airways Ltd		647
	630,973		Qatar Navigation QSC		824
	2,240,619		QR National Ltd		5,807
	755,814		Qube Logistics Holdings Ltd		1,000
	234,570	*	Radiant Logistics, Inc		908
	3,718	*,e	Roadrunner Transportation Systems Inc		9
	450,430		Royal Mail plc		694
	1,409,800	*	Rumo S.A.		5,331
	6,272		Ryder System, Inc		166
	463,632	*,e	Safe Bulkers, Inc		552
	38,297		Sagami Railway Co Ltd		982
	36,830	*	Saia, Inc		2,708

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	96	*,†	SAir Group	$	0
	6,060	e	Sakai Moving Service Co Ltd		321
	96,036		Sankyu, Inc		3,578
	56,800		Santos Brasil Participacoes S.A.		49
	99,622	*,e	SAS AB		87
	12,517	*	Saudi Public Transport Co		39
	74,700		SBS Holdings, Inc		1,206
	245,770		Schneider National, Inc		4,753
	140,016		Scorpio Bulkers, Inc		354
	123,286		Seibu Holdings, Inc		1,359
	538,474		Seino Holdings Corp		5,846
	55,570		Senko Co Ltd		430
	65,000		SF Holding Co Ltd		430
	144,120		SG Holdings Co Ltd		3,433
	24,400		Shandong Airlines Co Ltd		21
	53,200		Shanghai International Airport Co Ltd		452
	354,200		Shanghai International Port Group Co Ltd		221
	32,900		Shanghai Jinjiang International Investment Holdings Co		22
	117,400	*	Shenzhen Airport Co Ltd		125
	758,000	*	Shenzhen Expressway Co Ltd		766
	1,015,558		Shenzhen International Holdings Ltd		1,842
	22,700		Shinwa Kaiun Kaisha Ltd		291
	144,600		SIA Engineering Co Ltd		174
	663,836	*,e	Signature Aviation plc		1,349
	60,720		Sincere Navigation		22
	358,974	e	Singapore Airlines Ltd		1,457
	887,374		Singapore Airport Terminal Services Ltd		1,973
	767,419		Singapore Post Ltd		345
	2,565,000		Sinotrans Ltd		626
	116,617		Sinotrans Ltd (Class A)		57
	3,052,398		SITC International Co Ltd		2,841
	7,086		Sixt AG.		375
	30,874		Sixt AG. (Preference)		1,202
	6,276		Sixt Leasing AG.		127
	107,954		Skywest, Inc		2,827
	722,145	e	Southwest Airlines Co		25,716
	727,505	*	SpiceJet Ltd		354
	321,877	*,e	Spirit Airlines, Inc		4,149
	23,100		Spring Airlines Co Ltd		104
	1,264,044	e	Stagecoach Group plc		1,082
	9,798		Stolt-Nielsen S.A.		80
	216,219	*	STX Pan Ocean Co Ltd		520
	100,883		Sumitomo Warehouse Co Ltd		1,100
	965,951		Sydney Airport		3,337
	1,624,000		Taiwan High Speed Rail Corp		1,533
	28,000		TangShan Port Group Co Ltd		9
	210,243		TAV Havalimanlari Holding AS		524
	116,000		Tegma Gestao Logistica		462
	261,308	e	TFI International, Inc		5,765
	163,800	*	Thai Airways International PCL (Foreign)		16
	350,000		Tianjin Port Development Holdings Ltd		23
	243,372		TNT NV		308
	30,409		Tobu Railway Co Ltd		1,061
	381,089		Tokyu Corp		5,989

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,515		Tonami Holdings Co Ltd	$	113
	66,148		Tourism Holdings Ltd		43
	19,975		Trancom Co Ltd		1,303
	2,312,967		Transurban Group		17,228
	1,756,093	*	Turk Hava Yollari		2,408
	2,620,115	*	Uber Technologies, Inc		73,154
	86,000		U-Ming Marine Transport Corp		74
	2,198,805		Union Pacific Corp		310,119
	356,435	*,e	United Airlines Holdings Inc		11,246
	254,078		United International Transportation Co		1,840
	1,365,165		United Parcel Service, Inc (Class B)		127,534
	65,075		Universal Logistics Holdings Inc		852
	22,734	*,e	US Xpress Enterprises, Inc		76
	60,603	*	Virgin Australia Holdings Ltd		4
	67,336	*,†	Virgin Australia Int Holdings		0
	126,000		Wan Hai Lines Ltd		57
	69,694		Werner Enterprises, Inc		2,527
	254,316		West Japan Railway Co		17,394
	1,135,300		Westports Holdings BHD		892
	100,259	e	Westshore Terminals Investment Corp		932
	55,796	e	Wilh. Wilhelmsen ASA		53
	76,033		Wisdom Marine Lines Co Ltd		54
	194,000		Xiamen International Port Co Ltd		17
	142,633	*,e	XPO Logistics, Inc		6,953
	89,766	e	Yamato Transport Co Ltd		1,402
	251,523	*	Yang Ming Marine Transport		42
	43,301	*,e	YRC Worldwide, Inc		73
	328,000		Yuexiu Transport Infrastructure Ltd		199
	45,300		Yunda Holding Co Ltd		195
	1,148,794		Zhejiang Expressway Co Ltd		794
	328,900	*	ZTO Express Cayman, Inc (ADR)		8,709
			TOTAL TRANSPORTATION		1,591,647
UTILITIES - 3.4%
	3,855,549		A2A S.p.A.		4,757
	1,257,410		Aboitiz Power Corp		645
	28,451	e	Acciona S.A.		3,009
	186,458		ACEA S.p.A.		2,959
	511,295		Actelios S.p.A.		2,642
	162,659	*	Adani Power Ltd		60
	307,725	*	Adani Transmissions Ltd		767
	565,376		AES Corp		7,689
	8,444,054		AES Gener S.A.		1,024
	34,182	*	AES Tiete Energia SA		86
	348,364	*,†	AET&D Holdings No 1 Ptd Ltd		0
	994,654		AGL Energy Ltd		10,409
	2,678,669		Aguas Andinas S.A.		789
	656,138	e	Algonquin Power & Utilities Corp		8,835
	78,562		Allete, Inc		4,767
	1,861,614		Alliant Energy Corp		89,897
	411,920	e	AltaGas Ltd		3,732
	514,410		Alupar Investimento S.A.		2,227
	209,086		Ameren Corp		15,228

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,628,350		American Electric Power Co, Inc	$	210,215
	35,867		American States Water Co		2,932
	23,194		American Water Works Co, Inc		2,773
	1,458,866		APA Group		9,258
	8,325		Artesian Resources Corp		311
	42,581		Ascopiave S.p.A.		158
	276,599		Atco Ltd		7,659
	108,873		Athens Water Supply & Sewage Co S.A.		785
	393,151	*	Atlantic Power Corp		841
	447,575		Atmos Energy Corp		44,413
	2,296,973		AusNet Services		2,412
	7,340		Avangrid, Inc		321
	65,859		Avista Corp		2,798
	14,127		Aygaz AS		18
	2,780,100		B Grimm Power PCL		3,351
	2,139,422		Babcock & Brown Wind Partners		554
	128,700		BCPG PCL		48
	357,899		Beijing Enterprises Holdings Ltd		1,306
	3,098,191		Beijing Enterprises Water Group Ltd		1,201
	22,741		BKW S.A.		1,852
	142,605		Black Hills Corp		9,131
	1,312,000	*	Blue Sky Power Holdings Ltd		27
	93,035		Boralex, Inc		1,653
	47,535	*	Cadiz, Inc		555
	47,011		California Water Service Group		2,366
	307,096	e	Canadian Utilities Ltd		7,341
	137,000	e	Canvest Environment Protection Group Co Ltd		64
	119,505		Capital Power Corp		2,306
	44,325		Capital Stage AG.		443
	1,277,457		Centerpoint Energy, Inc		19,737
	480,232		Centrais Eletricas Brasileiras S.A.		2,205
	219,579		Centrais Eletricas Brasileiras S.A. (Preference)		1,100
	20,400	e	Central Puerto S.A. (ADR)		46
	6,833,730		Centrica plc		3,220
	118,864		CESC Ltd		641
	201,829		CEZ AS		3,292
	274,000		CGN New Energy Holdings Co Ltd		57
	9,174,000	g	CGN Power Co Ltd		2,090
	55,496		Chesapeake Utilities Corp		4,757
	8,495,000		China Datang Corp Renewable Power Co Ltd		608
	112,000	e,g	China Everbright Greentech Ltd		47
	177,013		China Everbright Water Ltd		29
	1,204,808		China Gas Holdings Ltd		4,166
	2,264,127		China Longyuan Power Group Corp		1,236
	273,700		China National Nuclear Power Co Ltd		169
	3,248,000		China Power International Development Ltd		601
	628,780		China Resources Gas Group Ltd		3,155
	1,379,303		China Resources Power Holdings Co		1,513
	62,500		China Tian Lun Gas Holdings Ltd		47
	1,276,000	e	China Water Affairs Group Ltd		953
	1,270,600		China Yangtze Power Co Ltd		3,090
	950,240		Chubu Electric Power Co, Inc		13,411
	728,291		Chugoku Electric Power Co, Inc		10,161
	73,000		Cia de Gas de Sao Paulo-COMGAS		2,487

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	307,800		Cia de Saneamento Basico do Estado de Sao Paulo	$	2,317
	113,280		Cia de Saneamento de Minas Gerais-COPASA		892
	341,400		Cia de Saneamento do Parana		1,567
	1,931,268		Cia de Saneamento do Parana (Preference)		1,788
	1,812,233		Cia Energetica de Minas Gerais		3,108
	40,000		Cia Energetica de Sao Paulo (Class B)		207
	573,919		Cia Paranaense de Energia		5,909
	762,573		CK Infrastructure Holdings Ltd		4,037
	470,700		CK Power PCL		42
	360,517		Clearway Energy, Inc (Class A)		6,190
	158,520		Clearway Energy, Inc (Class C)		2,980
	1,994,915		CLP Holdings Ltd		18,273
	224,777		CMS Energy Corp		13,206
	16,906,307		Colbun S.A.		1,837
	1,290,000		Concord New Energy Group Ltd		49
	42,191		Consolidated Edison, Inc		3,291
	15,343		Consolidated Water Co, Inc		252
	670,328		Contact Energy Ltd		2,281
	2,372,000		Datang International Power Generation Co Ltd		316
	2,983,443		Dominion Energy Inc		215,375
	453,168		Drax Group plc		857
	276,844		DTE Energy Co		26,292
	1,204,275		Duke Energy Corp		97,402
	1,991,720		E.ON AG.		20,430
	137,000		Eastern Water Resources Development and Management PCL		38
	518,440		Edison International		28,405
	288,200		EDP - Energias do Brasil S.A.		903
	56,669		El Paso Electric Co		3,851
	157,259		Electric Power Development Co		3,152
	871,607		Electricite de France		6,816
	248,900		Electricity Generating PCL		1,744
	24,179		Elia System Operator S.A.		2,355
	249,152		Emera, Inc		9,826
	4,700	*,e	Empresa Distribuidora Y Comercializadora Norte (ADR)		15
	177,501		Empresa Electrica del Norte Grande S.A.		196
	138,192		Enagas		2,726
	747,088		Endesa S.A.		15,809
	293,288	*	Enea S.A.		333
	11,206,332		Enel S.p.A.		77,299
	43,143	*	Energa S.A.		72
	4,606,409		Energias de Portugal S.A.		18,533
	127,200		Energisa S.A.		925
	87,661	*	Energix-Renewable Energies Ltd		250
	1,437,914		Energy Absolute PCL (Foreign)		1,475
	49,185	g	Enerjisa Enerji AS.		50
	60,349,655		Enersis Chile S.A.		4,090
	52,631,252		Enersis S.A.		6,413
	312,100	*	Eneva S.A.		2,087
	184,051		Engie Brasil Energia S.A.		1,379
	311,768	*	Enlight Renewable Energy Ltd		311
	1,390,028		ENN Energy Holdings Ltd		13,466

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,658,726		Entergy Corp	$	155,870
	692,500		Equatorial Energia S.A.		2,346
	3,040,891		Equitable Holdings, Inc		43,941
	11,843		eRex Co Ltd		134
	31,196		ERG S.p.A.		556
	30,327		Essential Utilities Inc		1,234
	793,508		Evergy, Inc		43,683
	58,958		Eversource Energy		4,611
	18,672		EVN AG.		273
	3,874,703		Exelon Corp		142,628
	3,487,200		First Gen Corp		1,128
	5,681,573		FirstEnergy Corp		227,661
	163,095	*,g	Fjordkraft Holding ASA		1,061
	453,634		Fortis, Inc		17,494
	213,069	*	Fortum Oyj		3,100
	1,560,661		GAIL India Ltd		1,567
	2,051,254		Gaz de France		21,006
	1,214,000	*	GCL New Energy Holdings Ltd		17
	894,000		GD Power Development Co Ltd		255
	576,832		Genesis Energy Ltd		859
	28,401	e	Genie Energy Ltd		204
	636,100		Global Power Synergy Co Ltd (Foreign)		1,100
	10,795		Global Water Resources, Inc		110
	2,085,966		Guangdong Investments Ltd		4,003
	205,135		Gujarat Gas Ltd		625
	153,664		Gujarat State Petronet Ltd		350
	433,400		Gulf Energy Development PCL		1,974
	13,369		Hawaiian Electric Industries, Inc		576
	2,908,239		Hera S.p.A.		10,522
	2,191,500		HK Electric Investments & HK Electric Investments Ltd		2,104
	89,433		Hokkaido Electric Power Co, Inc		386
	87,377		Hokuriku Electric Power Co		611
	220,707		Holding CO ADMIE IPTO S.A.		457
	10,321,553		Hong Kong & China Gas Ltd		16,901
	1,298,662		Hong Kong Electric Holdings Ltd		7,704
	1,376,000		Huadian Power International Corp Ltd		408
	272,000		Huadian Power International Corp Ltd (Class A)		132
	252,600		Huaneng Power International, Inc		166
	2,697,556		Huaneng Power International, Inc (Hong Kong)		1,006
	1,180,040	*	Hub Power Co Ltd		485
	268,000		Hubei Energy Group Co Ltd		133
	477,559	g	Hydro One Ltd		8,599
	8,601,524		Iberdrola S.A.		84,132
	78,896		Idacorp, Inc		6,926
	109,037		Indraprastha Gas Ltd		561
	479,300		Infraestructura Energetica ,NV SAB de C.V.		1,468
	381,204		Infratil Ltd		884
	312,500		Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd		113
	138,432		Innergex Renewable Energy, Inc		1,884
	1,027,900	*,†	Inter Far East Energy Corp		0	^
	828,729		Interconexion Electrica S.A.		3,158
	1,184,613		Inversiones Aguas Metropolitanas S.A.		902
	951,096		Iride S.p.A.		2,370

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,277		iShares MSCI India ETF	$	175
	1,090,195		Italgas S.p.A		5,965
	68,657		JSW Energy Ltd		39
	112,909	e	Just Energy Income Fund		57
	7,100		K&O Energy Group, Inc		98
	1,178,993		Kansai Electric Power Co, Inc		13,123
	10,042		Kenon Holdings Ltd		146
	9,053,158		Keppel Infrastructure Trust		2,706
	766	*	Korea District Heating Corp		19
	459,286	*	Korea Electric Power Corp		7,172
	144,858		Korea Gas Corp		2,537
	285,870		Kyushu Electric Power Co, Inc		2,293
	64,200		Light S.A.		119
	52,267		Mahanagar Gas Ltd		566
	246,200		Malakoff Corp BHD		46
	280,240		Manila Electric Co		1,232
	262,000		Manila Water Co, Inc		49
	827,307		MDU Resources Group, Inc		17,787
	2,377,722		Meridian Energy Ltd		5,675
	34,440		MGE Energy, Inc		2,255
	20,848		Middlesex Water Co		1,253
	976,730		Mighty River Power Ltd		2,446
	55,100		Mosenergo PJSC (ADR)		70
	35,067		National Fuel Gas Co		1,308
	8,515		National Gas & Industrialization Co		67
	3,141,166		National Grid plc		36,702
	373,492	e	Naturgy Energy Group S.A.		6,552
	96,279		New Jersey Resources Corp		3,271
	1,392,487		NextEra Energy, Inc		335,060
	32,429		Nippon Gas Co Ltd		1,070
	1,015,355		NiSource, Inc		25,353
	196,690		Northland Power Income Fund		3,926
	54,833		Northwest Natural Holding Co		3,386
	50,088		NorthWestern Corp		2,997
	546,283		NRG Energy, Inc		14,892
	3,324,558		NTPC Ltd		3,698
	108,142	e	Oest Elektrizitatswirts AG. (Class A)		3,900
	297,200		OGE Energy Corp		9,133
	175,168		Okinawa Electric Power Co, Inc		3,206
	15,700	*	Omega Geracao S.A.		82
	135,919		ONE Gas, Inc		11,366
	47,034		Ormat Technologies, Inc		3,182
	250,612	g	Orsted AS		24,534
	594,314		Osaka Gas Co Ltd		11,160
	53,325	*,e	OSRAM Licht AG. (Tender)		2,364
	66,350		Otter Tail Corp		2,950
	11,800	*,e	Pampa Energia S.A. (ADR)		133
	848,000	*	Panda Green Energy Group Ltd		17
	874,970		Pennon Group plc		11,699
	774,791		Petronas Gas BHD		2,751
	751,362	*,b	PG&E Corp		6,755
	231,296		Pinnacle West Capital Corp		17,530
	127,639		PNM Resources, Inc		4,850

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,596,063	*	Polska Grupa Energetyczna S.A.	$	1,463
	305,523		Portland General Electric Co		14,647
	2,064,537		Power Grid Corp of India Ltd		4,337
	1,559,252		PPL Corp		38,482
	36,428,232		PT Perusahaan Gas Negara Persero Tbk		1,716
	309,692		PTC India Ltd		158
	322,007	*	Public Power Corp		790
	416,650		Public Service Enterprise Group, Inc		18,712
	19,625	*	Pure Cycle Corp		219
	498,516		Qatar Electricity & Water Co		1,860
	500,800		Ratch Group PCL		867
	518,844		Red Electrica Corp S.A.		9,323
	207,514		Redes Energeticas Nacionais S.A.		530
	13,700	*	RENOVA, Inc		116
	7,393		RGC Resources, Inc		214
	61,904		Rubis S.C.A		2,553
	1,615,981		RWE AG.		42,260
	10,490		Samchully Co Ltd		577
	782,239		Saudi Electricity Co		3,309
	38,763	e,g	Scatec Solar ASA		486
	903,569		Scottish & Southern Energy plc		14,519
	307,600		SDIC Power Holdings Co Ltd		343
	33,040		Sechilienne-Sidec		971
	510,550		Sempra Energy		57,687
	189,102		Severn Trent plc		5,353
	106,500	*	Shanghai Electric Power Co Ltd		105
	181,400		Shenergy Co Ltd		135
	163,400		Shenzhen Energy Group Co Ltd		123
	260,136		Shikoku Electric Power Co, Inc		2,052
	101,400		Shizuoka Gas Co Ltd		819
	136,200		Sichuan Chuantou Energy Co Ltd		176
	938,480		SIIC Environment Holdings Ltd		131
	64,830		SJW Corp		3,745
	1,672,934		Snam Rete Gas S.p.A.		7,646
	128,000	*,†	Sound Global Ltd		0	^
	91,692		South Jersey Industries, Inc		2,292
	481,361		Southern Co		26,061
	157,822		Southwest Gas Holdings Inc		10,978
	38,097	e	Spark Energy, Inc		239
	1,339,074		Spark Infrastructure Group		1,617
	167,000		SPCG PCL		72
	98,954		Spire, Inc		7,370
	399,262		Suez Environnement S.A.		4,056
	1,578,500		SUI Northern Gas Pipeline		350
	67,397	*	Sunnova Energy International, Inc		679
	2,817,800		Super Energy Corp PCL (Foreign)		30
	199,120		Superior Plus Corp		1,169
	89,450		Taiwan Cogeneration Corp		87
	1,170,393		Tata Power Co Ltd		507
	221,862	*	Tauron Polska Energia S.A.		60
	77,448	e	Telecom Plus plc		1,195
	2,720,341		Tenaga Nasional BHD		7,571
	97,751		Terna Energy S.A.		782
	1,769,685		Terna Rete Elettrica Nazionale S.p.A.		11,124

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	500,305		TerraForm Power, Inc	$	7,890
	301,900		Thai Tap Water Supply PCL		116
	76,000		Tianjin Development Hldgs Ltd		15
	77,667		Toho Gas Co Ltd		3,501
	449,567		Tohoku Electric Power Co, Inc		4,322
	2,389,699	*	Tokyo Electric Power Co, Inc		8,313
	434,010		Tokyo Gas Co Ltd		10,227
	306,429		Torrent Power Ltd		1,126
	1,040,000		Towngas China Co Ltd		514
	535,000		TPI Polene Power PCL		50
	463,024		TransAlta Corp		2,422
	150,687	e	TransAlta Renewables, Inc		1,592
	648,363		Transmissora Alianca de Energia Eletrica S.A.		3,223
	24,929		UGI Corp		665
	213,684		Uniper SE		5,249
	641,548		United Utilities Group plc		7,181
	70,376		Unitil Corp		3,682
	691,107		Veolia Environnement		14,597
	1,033,114		Vistra Energy Corp		16,488
	40,186		WEC Energy Group, Inc		3,542
	232,000		WHA Utilities and Power PCL		29
	592,227		Xcel Energy, Inc		35,711
	12,727		York Water Co		553
	2,157,544		YTL Corp BHD		360
	1	*	Zorlu Enerji Elektrik Uretim AS		0
			TOTAL UTILITIES		3,080,980
			TOTAL COMMON STOCKS		88,332,310
			(Cost $99,001,401)
PURCHASED OPTIONS - 0.00%
DIVERSIFIED FINANCIALS - 0.00%
	2,000		S&P 500 Index		424
			TOTAL DIVERSIFIED FINANCIALS		424
MATERIALS - 0.00%
	34,000		Dow, Inc		17
			TOTAL MATERIALS		17
TECHNOLOGY HARDWARE & EQUIPMENT - 0.00%
	2,000		Apple, Inc		1
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1
			TOTAL PURCHASED OPTIONS		442
			(Cost $404)

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY					VALUE (000)
PREFERRED STOCKS - 0.0%
REAL ESTATE - 0.0%
	8,497,223	*,†	Ayala Land, Inc					$	17
			TOTAL REAL ESTATE						17
			TOTAL PREFERRED STOCKS						17
			(Cost $20)
RIGHTS / WARRANTS - 0.0%
CAPITAL GOODS - 0.0%
	79,135	e	Abengoa S.A. (B Shares)						1
			TOTAL CAPITAL GOODS						1
ENERGY - 0.0%
	115,800		Serba Dinamik Holdings BHD						5
	9,527	e	Weatherford International plc						2
			TOTAL ENERGY						7
MEDIA & ENTERTAINMENT - 0.0%
	2,091		Arvind Fashions Ltd						0
	230,631	†	Media General, Inc						0
			TOTAL MEDIA & ENTERTAINMENT						0
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	156,143	†	Elanco Animal Health, Inc CVR						9
	17,790	†,e	Omthera Pharmaceuticals, Inc						11
	20,027	†,e	Tobira Therapeutics, Inc						1
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						21
REAL ESTATE - 0.0%
	112,210		Sunway BHD						6
	66,478,080		U City PCL						20
			TOTAL REAL ESTATE						26
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	30,484	†	Legend Holdings Corp						5
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						5
TRANSPORTATION - 0.0%
	3,314,013		BTS Group Holdings PCL						59
			TOTAL TRANSPORTATION						59
			TOTAL RIGHTS / WARRANTS						119
			(Cost $5)
PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 2.1%
GOVERNMENT AGENCY DEBT - 0.9%
$	20,000,000		Federal Farm Credit Bank (FFCB)		0.500	%	04/13/20		19,999
	50,000,000		FFCB		0.470		06/04/20		49,994
	18,600,000		FFCB		0.520		07/13/20		18,595
	5,000,000		FFCB		0.120		09/25/20		4,997
	5,000,000		FFCB		0.100		11/20/20		4,995

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	52,830,000	Federal Home Loan Bank (FHLB)		0.000-1.570	%	04/13/20	$	52,829
	10,450,000	FHLB		1.560		04/21/20		10,450
	2,480,000	FHLB		0.030-0.500		04/24/20		2,480
	15,150,000	FHLB		1.580		04/27/20		15,149
	61,800,000	FHLB		0.540-1.570		04/29/20		61,797
	20,000,000	FHLB		1.575		04/30/20		19,999
	10,655,000	FHLB		0.010-1.570		05/01/20		10,654
	50,200,000	FHLB		0.010-1.560		05/05/20		50,197
	80,250,000	FHLB		0.010-1.567		05/06/20		80,245
	2,960,000	FHLB		1.558		05/08/20		2,960
	15,767,000	FHLB		1.570		05/22/20		15,765
	9,500,000	FHLB		0.001		05/27/20		9,499
	26,000,000	FHLB		0.000-1.585		05/28/20		25,997
	10,000,000	FHLB		0.530		06/05/20		9,999
	22,951,000	FHLB		0.010-0.470		06/15/20		22,948
	15,000,000	FHLB		0.170		06/24/20		14,998
	4,016,000	FHLB		0.090		06/29/20		4,015
	20,000,000	FHLB		0.010		07/20/20		19,994
	30,000,000	FHLB		0.030		07/27/20		29,991
	21,800,000	FHLB		0.120-0.270		09/15/20		21,787
	60,000,000	FHLB		0.060		10/01/20		59,957
	100,000	FHLB		0.250		11/20/20		100
	100,000	FHLB		0.150		01/08/21		100
	45,000,000	FHLB		0.100		01/19/21		44,941
	100,000	FHLB		0.300		02/08/21		100
	15,000,000	FHLB		0.120		02/16/21		14,979
	15,000,000	FHLB		0.170		03/08/21		14,976
	10,000,000	Federal Home Loan Mortgage Corp (FHLMC)		1.510		04/17/20		10,000
	10,000,000	FHLMC		0.010		08/03/20		9,996
	10,000,000	FHLMC		0.050		10/19/20		9,992
	7,000,000	Federal National Mortgage Association (FNMA)		0.249		09/23/20		6,995
	10,000,000	FNMA		0.080		11/13/20		9,991
	25,000,000	FNMA		0.120		12/15/20		24,973
		TOTAL GOVERNMENT AGENCY DEBT						787,433
TREASURY DEBT - 0.1%
	28,750,000	United States Treasury Bill		0.510-1.621		04/09/20		28,750
	22,250,000	United States Treasury Bill		1.601		04/23/20		22,250
	81,500,000	United States Treasury Bill		1.540		05/14/20		81,489
		TOTAL TREASURY DEBT						132,489
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 1.1%
CERTIFICATE OF DEPOSIT - 0.7%
	44,000,000	Australia & New Zealand Bank		1.119		04/27/20		44,000
	83,000,000	Canadian Imperial Bank of Commerce		0.540		09/29/20		83,000
	59,000,000	ING US Funding LLC		0.905		05/15/20		59,000
	83,000,000	Lloyds Bank plc		2.001		10/01/20		83,000
	79,000,000	Mizuho Bank Ltd		1.821		04/02/20		79,000
	86,000,000	National Australia Bank		0.865		05/15/20		86,000
	100,000,000	Natixis		0.945		05/14/20		100,000
	86,500,000	Skandinaviska Enskilda Banken AB		0.855		05/14/20		86,500
		TOTAL CERTIFICATE OF DEPOSIT						620,500

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
REPURCHASE AGREEMENT - 0.4%
$	25,000,000	r	Calyon		0.010	%	04/01/20	$	25,000
	53,406,000	s	Citigroup		0.010		04/01/20		53,406
	72,000,000	t	Deutsche Bank		0.010		04/01/20		72,000
	40,000,000	u	Goldman Sachs		0.010		04/01/20		40,000
	83,000,000	v	JP Morgan		0.020		04/01/20		83,000
	12,500,000	w	Merrill Lynch		0.010		04/01/20		12,500
	9,772,000	x	Merrill Lynch		0.010		04/01/20		9,772
	62,000,000	y	Nomura		0.020		04/01/20		62,000
	11,000,000	z	Royal Bank of Scotland		0.010		04/01/20		11,000
			TOTAL REPURCHASE AGREEMENT						368,678
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						989,178
			TOTAL SHORT-TERM INVESTMENTS						1,909,100
			(Cost $1,908,525)
			TOTAL INVESTMENTS - 100.8%						90,292,339
			(Cost $100,960,678)
			OTHER ASSETS & LIABILITIES, NET - (0.8)%						(721,100	)
			NET ASSETS - 100.0%					$	89,571,239

	Abbreviation(s):
ADR	American Depositary Receipt
CVR	Contingent Value Right
ETF	Exchange Traded Fund
GDR	Global Depositary Receipt
NVDR	Non Voting Depositary Receipt
OTC	Over The Counter
REIT	Real Estate Investment Trust
SPDR	Standard & Poor's Depository Receipts
^	Amount represents less than $1,000.
*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
a	Affiliated holding
b	In bankruptcy
d	All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $1,571,618,630.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/20, the aggregate value of these securities is $773,382,511 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, 0.01% dated 3/31/2020 to be repurchased at $25,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $25,500,000.
s	Agreement with Citigroup, 0.01% dated 3/31/2020 to be repurchased at $53,406,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $54,474,000.
t	Agreement with Deutsche Bank, 0.01% dated 3/31/2020 to be repurchased at $72,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $73,440,000.

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

u	Agreement with Goldman Sachs, 0.01% dated 3/31/2020 to be repurchased at $40,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $40,800,000.
v	Agreement with JP Morgan, 0.02% dated 3/31/2020 to be repurchased at $83,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $84,660,000.
w	Agreement with Merrill Lynch, 0.01% dated 3/31/2020 to be repurchased at $12,500,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $12,750,000.
x	Agreement with Merrill Lynch, 0.01% dated 3/31/2020 to be repurchased at $9,772,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $9,968,000.
y	Agreement with Nomura, 0.02% dated 3/31/2020 to be repurchased at $62,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $63,240,000.
z	Agreement with Royal Bank of Scotland, 0.01% dated 3/31/2020 to be repurchased at $11,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $11,220,000.
	Cost amounts are in thousands.

Purchased options outstanding as of March 31, 2020 were as follows (notional amounts and values are in thousands):

Description/underlying investment	Number of contracts		Notional amount		Exercise price		Expiration date	Value
Apple, Inc, Call		20	$	29	$	340	6/19/20	$	1
Dow, Inc, Call		340		47		50	1/15/21		17
S&P 500 Index, Put		20		328		2,700.00	5/15/20		424
Total		380	$	404				$	442

Written options outstanding as of March 31, 2020 were as follows (notional amounts and values are in thousands):

Description/underlying investment	Number of contracts		Notional amount			Exercise price		Expiration date	Value
Abbott Laboratories, Call		30	$	(2	)	$	96.00	04/03/20	$	(0	)^
Alexion Pharmaceuticals, Inc, Call		10		(3	)		100.00	6/19/20		(4	)
Alexion Pharmaceuticals, Inc, Put		20		(15	)		70.00	9/18/20		(9	)
Amazon.com, Inc, Call		10		(39	)		2,250.00	6/19/20		(36	)
Amazon.com, Inc, Call		20		(86	)		2,300.00	6/19/20		(54	)
Amazon.com, Inc, Put		10		(9	)		1,360.00	4/17/20		(1	)
Amazon.com, Inc, Put		10		(36	)		1,600.00	4/17/20		(7	)
Amazon.com, Inc, Put		10		(45	)		1,660.00	6/19/20		(46	)
Amazon.com, Inc, Put		10		(148	)		1,600.00	9/18/20		(57	)
Amazon.com, Inc, Put		10		(146	)		1,600.00	10/16/20		(63	)
Apple, Inc, Call		140		(56	)		350.00	4/17/20		(0	)^
Apple, Inc, Call		20		(16	)		360.00	6/19/20		(0	)^
Apple, Inc, Call		20		(12	)		370.00	6/19/20		(0	)^
Apple, Inc, Put		25		(7	)		195.00	4/17/20		(4	)
Apple, Inc, Put		10		(15	)		195.00	5/15/20		(4	)
Apple, Inc, Put		25		(11	)		195.00	6/19/20		(15	)
AutoZone, Inc, Call		10		(27	)		1,400.00	6/19/20		(5	)
Boeing Co, Call		215		(172	)		220.00	4/17/20		(10	)
Boeing Co, Call		30		(8	)		260.00	4/17/20		(0	)^
Booking Holdings, Inc, Call		10		(37	)		2,200.00	6/19/20		(1	)

189

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Description/underlying investment	Number of contracts		Notional amount			Exercise price		Expiration date	Value
Chicago Board Options Exchange SPX Volatility Index, Call		10	$	(2	)	$	75.00	4/15/20	$	(2	)
Chicago Board Options Exchange SPX Volatility Index, Put		10		(1	)		35.00	4/15/20		(1	)
Cigna Corp, Put		72		(176	)		160.00	6/19/20		(86	)
Danaher Corp, Call		20		(2	)		160.00	4/17/20		(1	)
Dow, Inc, Put		340		(47	)		25.00	1/15/21		(129	)
DuPont de Nemours, Inc, Put		234		(95	)		42.50	10/16/20		(253	)
DuPont de Nemours, Inc, Put		234		(123	)		45.00	10/16/20		(296	)
Guardant Health, Inc, Put		20		(14	)		55.00	6/19/20		(10	)
Hess Corp, Call		40		(11	)		45.00	6/19/20		(7	)
Hess Corp, Call		10		(2	)		50.00	6/19/20		(1	)
Hess Corp, Put		20		(12	)		35.00	6/19/20		(14	)
JPMorgan Chase & Co, Call		161		(13	)		141.00	4/3/20		(5	)
JPMorgan Chase & Co, Call		40		(8	)		120.00	6/19/20		(3	)
JPMorgan Chase & Co, Call		40		(3	)		145.00	6/19/20		(1	)
JPMorgan Chase & Co, Put		40		(24	)		120.00	6/19/20		(125	)
Lululemon Athletica, Inc, Call		20		(2	)		260.00	4/17/20		(0	)^
Morgan Stanley, Call		50		(2	)		42.00	4/9/20		(0	)^
Morgan Stanley, Put		30		(8	)		42.00	9/18/20		(30	)
S&P 500 Index, Call		20		(19	)		3,000.00	4/17/20		(3	)
S&P 500 Index, Call		20		(55	)		3,225.00	4/17/20		(1	)
S&P 500 Index, Call		20		(99	)		3,100.00	5/15/20		(6	)
S&P 500 Index, Call		20		(88	)		3,100.00	6/19/20		(14	)
S&P 500 Index, Put		20		(234	)		2,550.00	5/15/20		(307	)
Tesla, Inc, Call		25		(71	)		1,000.00	4/17/20		(1	)
Tesla, Inc, Call		5		(45	)		1,100.00	6/19/20		(2	)
Tesla, Inc, Call		5		(21	)		1,150.00	6/19/20		(1	)
Tesla, Inc, Call		5		(15	)		700.00	6/19/20		(13	)
Tesla, Inc, Call		5		(14	)		950.00	6/19/20		(3	)
Tesla, Inc, Call		5		(67	)		1,200.00	1/15/21		(205	)
Twitter, Inc, Put		400		(206	)		28.00	6/19/20		(174	)
VanEck Vectors Semiconductor ETF, Call		5,000		(1178	)		146.00	5/15/20		(173	)
VanEck Vectors Semiconductor ETF, Call		6,200		(2036	)		150.00	5/15/20		(157	)
Total		13,786		(5583	)				$	(2,340	)
^ Amount represents less than $1,000.

Futures contracts outstanding as of March 31, 2020 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		570	06/19/20	$	35,778	$	32,707	$	(3,071	)
S&P 500 E Mini Index		3,684	06/19/20		502,433		473,339		(29,094	)
S&P Mid-Cap 400 E Mini Index		416	06/19/20		64,499		59,812		(4,687	)
Total		4,670		$	602,710	$	565,858	$	(36,852	)

190

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Forward foreign currency contracts outstanding as of March 31, 2020 were as follows (dollar amounts are in thousands):

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	Unrealized appreciation (depreciation)
$	3,724	AUD	5,400	Bank of America	04/21/20	$	402
$	27,328	GBP	21,000	Bank of America	06/12/20	1,211
Total						$	1,613
$	4,972	CAD	6,500	Morgan Stanley	04/21/20	$	352
$	48,738	CAD	67,000	Morgan Stanley	06/10/20	1,097
$	12,019	GBP	9,200	Morgan Stanley	04/21/20	587
$	5,511	JPY	604,000	Morgan Stanley	04/21/20	(112)
$	3,997	SEK	37,900	Morgan Stanley	04/21/20	164
CHF	2,900	$	3,013	Morgan Stanley	04/21/20	3
EUR	9,400	$	10,489	Morgan Stanley	04/21/20	(114)
Total						$	1,977
Total						$	3,590

Abbreviation(s):

AUD	Australian Dollar
CAD	Canadian Dollar
CHF	Swiss franc
EUR	Euro
GBP	Pound Sterling
JPY	Japanese Yen
SEK	Swedish Krona

191

COLLEGE RETIREMENT EQUITIES FUND – Stock Account

COLLEGE RETIREMENT EQUITIES FUND

STOCK ACCOUNT

SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)

March 31, 2020

	Value		% of total
Country	(000)		portfolio
DOMESTIC
UNITED STATES	$	63,136,991		69.9	%
TOTAL DOMESTIC		63,136,991		69.9
FOREIGN
ARGENTINA		17,843		0.0
AUSTRALIA		1,076,818		1.2
AUSTRIA		149,612		0.2
BAHAMAS		172		0.0
BELGIUM		176,409		0.2
BERMUDA		28,921		0.0
BRAZIL		468,621		0.5
CANADA		1,566,448		1.7
CAYMAN ISLANDS		453		0.0
CHILE		57,730		0.1
CHINA		2,777,736		3.1
COLOMBIA		18,998		0.0
COTE D’IVOIRE		1,246		0.0
CYPRUS		62		0.0
CZECH REPUBLIC		22,261		0.0
DENMARK		460,074		0.5
EGYPT		13,858		0.0
FAROE ISLANDS		1,752		0.0
FINLAND		151,170		0.2
FRANCE		1,676,722		1.9
GEORGIA		1,066		0.0
GERMANY		1,244,326		1.4
GHANA		711		0.0
GREECE		20,182		0.0
GUERNSEY, C.I.		692		0.0
HONG KONG		511,655		0.6
HUNGARY		20,108		0.0
INDIA		580,316		0.6
INDONESIA		107,288		0.1
IRELAND		250,330		0.3
ISRAEL		103,572		0.1
ITALY		459,326		0.5
JAPAN		4,735,134		5.2
JERSEY, C.I.		582		0.0
JORDAN		10,670		0.0
KAZAKHSTAN		8,952		0.0
KENYA		3,843		0.0
KOREA, REPUBLIC OF		868,689		1.0
LIECHTENSTEIN		1,394		0.0
LUXEMBOURG		23,754		0.0
MACAU		51,996		0.1
MALAYSIA		130,305		0.1
MALTA		548		0.0
MEXICO		151,828		0.2
MONACO		3,881		0.0
MONGOLIA		356		0.0

192

COLLEGE RETIREMENT EQUITIES FUND – Stock Account

	Value		% of total
Country	(000)		portfolio
MYANMAR	$	93		0.0	%
NETHERLANDS		1,020,743		1.1
NEW ZEALAND		61,432		0.1
NORWAY		136,128		0.2
PAKISTAN		5,892		0.0
PANAMA		2,495		0.0
PERU		27,003		0.0
PHILIPPINES		55,781		0.1
POLAND		46,345		0.1
PORTUGAL		44,608		0.0
PUERTO RICO		21,378		0.0
QATAR		57,292		0.1
ROMANIA		2,542		0.0
RUSSIA		211,773		0.2
SAUDI ARABIA		147,890		0.2
SINGAPORE		225,247		0.2
SLOVENIA		6,450		0.0
SOUTH AFRICA		270,250		0.3
SPAIN		375,090		0.4
SWEDEN		500,517		0.6
SWITZERLAND		1,876,572		2.1
TAIWAN		1,003,688		1.1
THAILAND		155,451		0.2
TURKEY		47,699		0.1
UKRAINE		219		0.0
UNITED ARAB EMIRATES		36,433		0.0
UNITED KINGDOM		2,848,367		3.2
VIETNAM		2,124		0.0
ZAMBIA		7,436		0.0
TOTAL FOREIGN		27,155,348		30.1
TOTAL PORTFOLIO	$	90,292,339		100.0	%

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2020

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.8%
ARGENTINA - 0.0%
	9,100		Banco Macro S.A. (ADR) (Class B)	$	154
	6,963	*	Globant S.A.		612
	18,600		Grupo Financiero Galicia S.A. (ADR) (Class B)		131
	4,353	*	MercadoLibre, Inc		2,127
	19,500	e	Telecom Argentina S.A. (ADR) (Class B)		180
	42,400		YPF S.A. (ADR) (Class D)		177
			TOTAL ARGENTINA		3,381
AUSTRALIA - 1.5%
	1,346,719	*	Afterpay Touch Group Ltd		15,660
	78,485		AGL Energy Ltd		821
	68,406		Alumina Ltd		61
	432,533	*	AMP Ltd		353
	160,277		APA Group		1,017
	17,351		Aristocrat Leisure Ltd		225
	56,898		AusNet Services		60
	910,722		Australia & New Zealand Banking Group Ltd		9,551
	46,598		Australian Stock Exchange Ltd		2,187
	681,005	*,†	AZ BGP Holdings		2
	14,906	e	Bendigo Bank Ltd		57
	88,641		BHP Billiton Ltd		1,608
	62,615		BHP Group plc		972
	16,266		BlueScope Steel Ltd		85
	34,640		Boral Ltd		44
	46,902		Brambles Ltd		303
	8,062		Caltex Australia Ltd		109
	95,448		Challenger Financial Services Group Ltd		233
	2,269		CIMIC Group Ltd		32
	14,362		Coca-Cola Amatil Ltd		78
	1,752		Cochlear Ltd		200
	33,235		Coles Group Ltd		310
	53,273		Commonwealth Bank of Australia		2,010
	14,860		Computershare Ltd		89
	10,676		Crown Resorts Ltd		50
	517,344		CSL Ltd		93,780
	101,427		Dexus Property Group		562
	2,067	†,e	Flight Centre Travel Group Ltd		13
	8,658,372		Fortescue Metals Group Ltd		53,060
	201,349		Goodman Group		1,476
	149,956		GPT Group		333
	12,919	e	Harvey Norman Holdings Ltd		24
	1,140,400		IDP Education Ltd		8,892
	46,039		Incitec Pivot Ltd		57
	1,941,099		Ingenia Communities Group		3,883
	338,234		Insurance Australia Group Ltd		1,276
	16,931		Lend Lease Corp Ltd		106

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	25,637		Macquarie Group Ltd	$	1,365
	3,597		Magellan Financial Group Ltd		95
	81,011		Medibank Pvt Ltd		133
	130,967	*	Megaport Ltd		794
	308,506		Mirvac Group		392
	86,880		National Australia Bank Ltd		891
	23,161		Newcrest Mining Ltd		318
	43,267		Oil Search Ltd		63
	12,309		Orica Ltd		115
	54,868		Origin Energy Ltd		148
	5,461	e	Perpetual Trustees Australia Ltd		83
	141,668		Qantas Airways Ltd		276
	172,685		QBE Insurance Group Ltd		900
	63,969		QR National Ltd		166
	4,899		Ramsay Health Care Ltd		172
	1,651	e	REA Group Ltd		77
	11,178		Rio Tinto Ltd		576
	398,502		Rio Tinto plc		18,268
	40,677		Rio Tinto plc (ADR)		1,853
	58,913		Santos Ltd		121
	740,109		Scentre Group		709
	10,760		Seek Ltd		98
	171,777		Sonic Healthcare Ltd		2,582
	153,082		South32 Ltd		169
	369,688		Stockland Trust Group		569
	166,921		Suncorp-Metway Ltd		927
	33,583		Sydney Airport		116
	65,200		Tabcorp Holdings Ltd		101
	602,001		Telstra Corp Ltd		1,130
	10,342		TPG Telecom Ltd		44
	84,541		Transurban Group		630
	20,835	e	Treasury Wine Estates Ltd		129
	237,304		Vicinity Centres		149
	264,254	*	Virgin Australia Holdings Ltd		16
	3,606		Washington H Soul Pattinson & Co Ltd		37
	84,143		Wesfarmers Ltd		1,783
	107,525		Westpac Banking Corp		1,104
	3,552	e	Wisetech Global Ltd		37
	28,557		Woodside Petroleum Ltd		317
	125,631		Woolworths Ltd		2,732
	9,759	e	Worley Ltd		36
	2,559,900	*,e	Zip Co Ltd		2,437
			TOTAL AUSTRALIA		242,237
AUSTRIA - 0.1%
	1,985	*	Andritz AG.		62
	184,528	g	BAWAG Group AG.		5,148
	254,000		Erste Bank der Oesterreichischen Sparkassen AG.		4,650
	9,195	e	Oest Elektrizitatswirts AG. (Class A)		332
	4,103		OMV AG.		112
	4,487		Raiffeisen International Bank Holding AG.		65
	3,231		Voestalpine AG.		65
			TOTAL AUSTRIA		10,434

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
BELGIUM - 0.1%
	5,337		Ageas	$	222
	74,962		Anheuser-Busch InBev S.A.		3,311
	3,796		Befimmo SCA Sicafi		182
	3,037		Cofinimmo		394
	1,500		Colruyt S.A.		81
	14,129	*	Galapagos NV		2,821
	2,410		Groupe Bruxelles Lambert S.A.		190
	7,414		KBC Groep NV		336
	4,622		Proximus plc		106
	2,210		Solvay S.A.		159
	1,072		Telenet Group Holding NV		32
	3,745		UCB S.A.		321
	5,851		Umicore S.A.		202
	10,973	*	Warehouses De Pauw CVA		313
			TOTAL BELGIUM		8,670
BERMUDA - 0.0%
	1,496		RenaissanceRe Holdings Ltd		223
	203,322	*	Third Point Reinsurance Ltd		1,507
			TOTAL BERMUDA		1,730
BRAZIL - 1.4%
	957,600		AMBEV S.A.		2,197
	258,186	*	Arco Platform Ltd		10,911
	455,000		Arcos Dorados Holdings, Inc		1,520
	79,000		Atacadao Distribuicao Comercio e Industria Ltd		314
	5,741,200	*	B2W Companhia Global Do Varejo		53,035
	413,600		B3 SA-Brasil Bolsa Balcao		2,858
	239,920		Banco Bradesco S.A.		869
	813,920		Banco Bradesco S.A. (Preference)		3,253
	45,100		Banco BTG Pactual S.A.		289
	172,532		Banco do Brasil S.A.		926
	961,900		Banco Inter SA		5,848
	980,519		Banco Itau Holding Financeira S.A.		4,357
	82,500		Banco Santander Brasil S.A.		423
	141,900		BB Seguridade Participacoes S.A.		679
	164,700		BR Malls Participacoes S.A.		316
	44,000		Braskem S.A.		146
	122,800	*	BRF S.A.		357
	56,355		Centrais Eletricas Brasileiras S.A.		259
	54,600		Centrais Eletricas Brasileiras S.A. (Preference)		274
	2,140,200		Cia Brasileira de Distribuicao		27,325
	247,300		Cia de Concessoes Rodoviarias		558
	70,000		Cia de Saneamento Basico do Estado de Sao Paulo		527
	200,500		Cia Energetica de Minas Gerais		344
	133,500		Cia Siderurgica Nacional S.A.		179
	270,500		Cielo S.A.		231
	359,800		Cogna Educacao		277
	32,000		Cosan SA Industria e Comercio		331
	139,800	*	Empresa Brasileira de Aeronautica S.A.		257
	33,700		Energisa S.A.		245
	41,050		Engie Brasil Energia S.A.		307
	170,500		Equatorial Energia S.A.		578

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	210,500		Gerdau S.A. (Preference)	$	407
	44,200	g	Hapvida Participacoes e Investimentos S.A.		361
	75,800		Hypermarcas S.A.		417
	892,040		Investimentos Itau S.A. - PR		1,506
	149,600	*	IRB Brasil Resseguros S		279
	220,500		JBS S.A.		863
	142,500		Klabin S.A.		439
	1,802,490		Localiza Rent A Car		9,123
	6,164,723		Lojas Americanas S.A. (Preference)		21,355
	158,880		Lojas Renner S.A.		1,026
	1,480,000		Magazine Luiza S.A.		11,105
	55,300		Multiplan Empreendimentos Imobiliarios S.A.		203
	129,500		Natura & Co Holding S.A.		641
	96,600		Notre Dame Intermedica Participacoes S.A.		836
	727,828	*	Pagseguro Digital Ltd		14,069
	143,200		Petrobras Distribuidora S.A.		427
	769,900		Petroleo Brasileiro S.A.		2,095
	869,838		Petroleo Brasileiro S.A. (Preference)		2,342
	18,900		Porto Seguro S.A.		163
	46,900		Raia Drogasil S.A.		919
	222,800	*	Rumo S.A.		843
	570,157	*,e	StoneCo Ltd		12,412
	54,300		Sul America S.A.		353
	108,780		Suzano Papel e Celulose S.A.		749
	90,300		Telefonica Brasil S.A.		859
	164,300		Tim Participacoes S.A.		393
	149,800		Ultrapar Participacoes S.A.		361
	638,000		Vale S.A.		5,307
	168,060		Weg S.A.		1,086
	644,100	*	XP, Inc		12,425
			TOTAL BRAZIL		223,354
CANADA - 1.9%
	32,366		Agnico-Eagle Mines Ltd		1,292
	3,793	*	Air Canada		42
	15,359	e	Algonquin Power & Utilities Corp		207
	1,053,033		Alimentation Couche Tard, Inc		24,805
	8,320		AltaGas Ltd		75
	2,650		Atco Ltd		73
	32,679	*,e	Aurora Cannabis, Inc		29
	18,766		Bank of Montreal		948
	83,178		Bank of Nova Scotia		3,397
	2,585,733		Barrick Gold Corp (Canada)		47,514
	4,511		BCE, Inc		185
	15,159	*	Blackberry Ltd (New)		62
	15,186		Boardwalk REIT		247
	74,094	*	Bombardier, Inc		24
	56,483		Brookfield Asset Management, Inc		2,504
	7,661		CAE, Inc		97
	11,716		Cameco Corp (Toronto)		89
	8,523		Canadian Apartment Properties REIT		258
	62,701	e	Canadian Imperial Bank of Commerce		3,653
	20,997		Canadian National Railway Co		1,642
	33,524	e	Canadian Natural Resources Ltd (Canada)		459

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	225,947		Canadian Pacific Railway Ltd (Toronto)	$	49,860
	1,735		Canadian Tire Corp Ltd		105
	3,857		Canadian Utilities Ltd		92
	6,175	*,e	Canopy Growth Corp (Toronto)		90
	4,751	e	CCL Industries		144
	29,175		Cenovus Energy, Inc (Toronto)		59
	7,043	*	CGI, Inc		381
	6,528		CI Financial Corp		65
	591		Constellation Software, Inc		537
	4,404	*,e	Cronos Group, Inc		25
	147,000	*	Descartes Systems Group, Inc		5,057
	637,742		Dollarama, Inc		17,692
	7,100		Emera, Inc		280
	5,352		Empire Co Ltd		105
	224,464		Enbridge, Inc (Toronto)		6,536
	791		Fairfax Financial Holdings Ltd		242
	8,715		First Capital Real Estate Investment Trust		84
	12,916		Fortis, Inc		498
	5,535		Franco-Nevada Corp		553
	2,273		George Weston Ltd		163
	5,355		Gildan Activewear, Inc		68
	8,788		Great-West Lifeco, Inc		152
	27,905		H&R Real Estate Investment Trust		177
	12,361	e	Husky Energy, Inc		31
	9,788	g	Hydro One Ltd		176
	3,309		iA Financial Corp, Inc		104
	2,499		IGM Financial, Inc		41
	6,491		Imperial Oil Ltd		73
	86,362		Intact Financial Corp		7,464
	12,868	e	Inter Pipeline Ltd		77
	6,689		Keyera Corp		62
	82,500	*	Kinaxis, Inc		6,383
	35,470	*	Kinross Gold Corp		142
	7,977		Kirkland Lake Gold Ltd		235
	584,200	*,e	Lightspeed POS, Inc		7,904
	5,373		Loblaw Cos Ltd		277
	8,578		Magna International, Inc		274
	175,086		Manulife Financial Corp (Toronto)		2,198
	1,487		Methanex Corp		18
	7,457		Metro, Inc		302
	9,821		National Bank of Canada		380
	721,455		Nutrien Ltd (Toronto)		24,664
	2,528		Onex Corp		93
	7,959		Open Text Corp		278
	4,607		Parkland Fuel Corp		81
	16,074	e	Pembina Pipeline Income Fund		302
	82,467	e	Power Corp Of Canada		1,327
	4,998	e	PrairieSky Royalty Ltd		26
	5,584		Quebecor, Inc		123
	8,350		Restaurant Brands International, Inc (Toronto)		336
	66,127		RioCan Real Estate Investment Trust		758
	10,589		Rogers Communications, Inc (Class B)		442
	278,129		Royal Bank of Canada		17,228
	7,219		Saputo, Inc		174

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	13,924		Shaw Communications, Inc (B Shares)	$	226
	1,801	*	Shopify, Inc (Class A)		751
	54,647	*	Shopify, Inc (Class A) (Toronto)		22,896
	16,711		Smart Real Estate Investment Trust		224
	6,395	*	Stars Group, Inc		131
	64,163		Sun Life Financial, Inc		2,064
	45,214		Suncor Energy, Inc		722
	212,271		TC Energy Corp		9,435
	418,315		Teck Cominco Ltd		3,172
	11,720		TELUS Corp		185
	5,849		Thomson Reuters Corp		398
	431,921		Toronto-Dominion Bank		18,363
	8,861		West Fraser Timber Co Ltd		169
	13,146		Wheaton Precious Metals Corp		362
	3,117	e	WSP Global, Inc		177
	23,826	*	Zymeworks, Inc		845
			TOTAL CANADA		302,660
CHILE - 0.0%
	630,925		Aguas Andinas S.A.		186
	12,183		Antofagasta plc		116
	9,311,088		Banco de Chile		752
	8,894	*	Banco de Credito e Inversiones		301
	13,167,345		Banco Santander Chile S.A.		508
	285,565		Centros Comerciales Sudamericanos S.A.		297
	34,318		Cia Cervecerias Unidas S.A.		235
	1,793,537		Colbun S.A.		195
	28,342,526		Corpbanca S.A.		73
	75,535		Embotelladora Andina S.A.		168
	23,171	*	Empresa Nacional de Telecomunicaciones S.A.		98
	238,394		Empresas CMPC S.A.		508
	80,512		Empresas COPEC S.A.		461
	5,621,199		Enersis Chile S.A.		381
	7,722,502		Enersis S.A.		941
	50,055		Lan Airlines S.A.		128
	19,647		Lundin Mining Corp		74
	151,085		SACI Falabella		332
	23,608		Sociedad Quimica y Minera de Chile S.A. (Class B)		537
			TOTAL CHILE		6,291
CHINA - 6.4%
	18,800		360 Security Technology, Inc		49
	261,500	*,g	3SBio, Inc		269
	5,300	*	51job, Inc (ADR)		325
	19,300	*	58.COM, Inc (ADR)		940
	150,000	e	AAC Technologies Holdings, Inc		765
	3,800		Accelink Technologies Co Ltd		17
	17,600		AECC Aero-Engine Control Co Ltd		29
	31,600		AECC Aviation Power Co Ltd		94
	292,000		Agile Property Holdings Ltd		313
	6,182,000		Agricultural Bank of China Ltd		2,468
	907,500		Agricultural Bank of China Ltd (Class A)		430
	236,490		Aier Eye Hospital Group Co Ltd		1,298
	42,200		Air China Ltd		38

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	396,000	e	Air China Ltd (H shares)	$	253
	24,900		Aisino Corp		66
	1,099,429	*	Alibaba Group Holding Ltd (ADR)		213,817
	726,000	*	Alibaba Health Information Technology Ltd		1,193
	87,250	*,g	A-Living Services Co Ltd		418
	946,000	*	Aluminum Corp of China Ltd		186
	182,500	*	Aluminum Corp of China Ltd (Class A)		73
	50,830		Angang Steel Co Ltd		19
	11,400	*	Angel Yeast Co Ltd		56
	254,000		Anhui Conch Cement Co Ltd		1,745
	50,700		Anhui Conch Cement Co Ltd (Class A)		388
	5,100		Anhui Gujing Distillery Co Ltd		82
	1,170,826		Anhui Kouzi Distillery Co Ltd		6,761
	217,000		Anta Sports Products Ltd		1,575
	81,900	*,†	Anxin Trust Co Ltd		25
	2,300		Asymchem Laboratories Tianjin Co Ltd		55
	4,000		Autobio Diagnostics Co Ltd		65
	12,000	*	Autohome, Inc (ADR)		852
	33,200		AVIC Aircraft Co Ltd		73
	80,200		Avic Capital Co Ltd		44
	44,800	*	AVIC Electromechanical Systems Co Ltd		45
	11,800	*	AVIC Jonhon Optronic Technology Co Ltd		57
	10,200	*	AVIC Shenyang Aircraft Co Ltd		41
	573,000	e	AviChina Industry & Technology Co		219
	6,800	*	AVICOPTER plc		40
	26,300	*	BAIC BluePark New Energy Technology Co Ltd		22
	380,500	g	BAIC Motor Corp Ltd		150
	55,500	*	Baidu, Inc (ADR)		5,594
	231,000		Bank of Beijing Co Ltd		157
	39,500		Bank of Chengdu Co Ltd		42
	383,500		Bank of China Ltd		187
	16,322,000		Bank of China Ltd (Hong Kong)		6,213
	541,500		Bank of Communications Co Ltd		393
	1,848,000		Bank of Communications Co Ltd (Hong Kong)		1,126
	30,200		Bank of Guiyang Co Ltd		32
	45,600		Bank of Hangzhou Co Ltd		49
	142,600		Bank of Jiangsu Co Ltd		120
	115,600		Bank of Nanjing Co Ltd		117
	68,200		Bank of Ningbo Co Ltd		220
	152,422		Bank of Shanghai Co Ltd		176
	289,900		Baoshan Iron & Steel Co Ltd		198
	8,864	*,e	Baozun, Inc (ADR)		248
	48,500		BBMG Corp		22
	477,000	e	BBMG Corp (Class H)		118
	1,200	*	BeiGene Ltd (ADR)		148
	13,700		Beijing Capital Development Co Ltd		13
	394,000		Beijing Capital International Airport Co Ltd		250
	55,100		Beijing Dabeinong Technology Group Co Ltd		67
	34,000		Beijing Enlight Media Co Ltd		42
	107,500		Beijing Enterprises Holdings Ltd		392
	1,068,000		Beijing Enterprises Water Group Ltd		414
	23,800	*	Beijing New Building Materials plc		78
	19,500		Beijing Oriental Yuhong Waterproof Technology Co Ltd		92
	47,500		Beijing Originwater Technology Co Ltd		61

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	43,500		Beijing Sanju Environmental Protection and New Material Co Ltd	$	28
	10,900		Beijing Shiji Information Technology Co Ltd		44
	10,300		Beijing Shunxin Agriculture Co Ltd		88
	19,200		Beijing Sinnet Technology Co Ltd		64
	17,900		Beijing SL Pharmaceutical Co Ltd		30
	11,700		Beijing Tiantan Biological Products Corp Ltd		60
	19,500		Beijing Tongrentang Co Ltd		69
	44,700		Beijing Yanjing Brewery Co Ltd		38
	41,000	*	BEST, Inc (ADR)		219
	4,700		Betta Pharmaceuticals Co Ltd		46
	5,100	*	BGI Genomics Co Ltd		60
	417,400		BOE Technology Group Co Ltd		215
	36,100	*	Bohai Leasing Co Ltd		15
	722,000		Bosideng International Holdings Ltd		168
	598,000		Brilliance China Automotive Holdings Ltd		487
	16,200		BTG Hotels Group Co Ltd		30
	39,200	*,g	Budweiser Brewing Co APAC Ltd		101
	23,600		BYD Co Ltd		198
	131,500	e	BYD Co Ltd (H shares)		702
	146,500	e	BYD Electronic International Co Ltd		241
	26,800	*	By-health Co Ltd		63
	52,900		Caitong Securities Co Ltd		75
	5,600		Centre Testing International Group Co Ltd		12
	2,331,000	g	CGN Power Co Ltd		531
	2,000	*	Changchun High & New Technology Industry Group, Inc		153
	83,500		Changjiang Securities Co Ltd		75
	312,800	*,e	Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		225
	1,300		Changzhou Xingyu Automotive Lighting Systems Co Ltd		15
	17,400		Chaozhou Three-Circle Group Co Ltd		44
	10,300		Chengdu Kanghong Pharmaceutical Group Co Ltd		57
	12,100	*	China Aerospace Times Electronics Co Ltd		11
	9,579,000	*,†,e	China Animal Healthcare Ltd		12
	247,000		China Aoyuan Group Ltd		285
	7,800		China Avionics Systems Co Ltd		14
	1,885,000		China Cinda Asset Management Co Ltd		355
	1,914,000		China Citic Bank		941
	54,500		China CITIC Bank Corp Ltd		40
	514,000		China Coal Energy Co		141
	35,500		China Communications Construction Co Ltd		41
	942,000		China Communications Construction Co Ltd (Hong Kong)		649
	492,000		China Communications Services Corp Ltd		354
	329,500		China Conch Venture Holdings Ltd		1,461
	178,800		China Construction Bank Corp		159
	19,439,000		China Construction Bank Corp (Hong Kong)		15,801
	602,000	*	China COSCO Holdings Co Ltd		164
	111,500	*,g	China East Education Holdings Ltd		179
	103,800	*	China Eastern Airlines Corp Ltd		60
	366,000	*,e	China Eastern Airlines Corp Ltd (H Shares)		125
	122,000	e	China Education Group Holdings Ltd		169
	491,100		China Everbright Bank Co Ltd		249
	629,000		China Everbright Bank Co Ltd (Hong Kong)		239
	765,555		China Everbright International Ltd		435

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	194,000		China Everbright Ltd	$	284
	378,000	e	China Evergrande Group		620
	20,700		China Film Co Ltd		34
	40,641		China Fortune Land Development Co Ltd		118
	741,500		China Galaxy Securities Co Ltd		356
	371,400		China Gas Holdings Ltd		1,284
	53,800		China Gezhouba Group Co Ltd		52
	106,943		China Grand Automotive Services Co Ltd		61
	36,200		China Greatwall Technology Group Co Ltd		60
	376,500		China Hongqiao Group Ltd		159
	2,101,000	g	China Huarong Asset Management Co Ltd		264
	330,000		China Insurance International Holdings Co Ltd		534
	272,400	e,g	China International Capital Corp Ltd		436
	11,100		China International Marine Containers Group Co Ltd		12
	23,400		China International Travel Service Corp Ltd		219
	55,300	*	China Jushi Co Ltd		61
	222,000	*	China Lesso Group Holdings Ltd		287
	1,519,000		China Life Insurance Co Ltd		2,933
	33,700		China Life Insurance Co Ltd (Class A)		124
	51,400	*,e,g	China Literature Ltd		202
	720,000		China Longyuan Power Group Corp		393
	278,000		China Medical System Holdings Ltd		297
	7,600		China Meheco Co Ltd		16
	562,000		China Mengniu Dairy Co Ltd		1,938
	796,500		China Merchants Bank Co Ltd		3,563
	252,300		China Merchants Bank Co Ltd (Class A)		1,139
	99,200		China Merchants Energy Shipping Co Ltd		88
	303,426		China Merchants Holdings International Co Ltd		345
	77,000		China Merchants Securities Co Ltd		185
	94,500		China Merchants Shekou Industrial Zone Holdings Co Ltd		218
	449,400	*	China Minsheng Banking Corp Ltd		360
	1,472,300		China Minsheng Banking Corp Ltd (Hong Kong)		1,089
	1,241,000		China Mobile Hong Kong Ltd		9,300
	783,000	e	China Molybdenum Co Ltd		215
	249,400		China Molybdenum Co Ltd (Class A)		120
	6,000		China National Accord Medicines Corp Ltd		34
	786,000		China National Building Material Co Ltd		844
	53,200		China National Chemical Engineering Co Ltd		44
	9,500	*	China National Medicines Corp Ltd		38
	178,600		China National Nuclear Power Co Ltd		110
	6,100		China National Software & Service Co Ltd		61
	42,900		China Northern Rare Earth Group High-Tech Co Ltd		54
	384,000		China Oilfield Services Ltd		293
	1,633,435		China Overseas Land & Investment Ltd		5,008
	79,700		China Pacific Insurance Group Co Ltd		314
	546,200		China Pacific Insurance Group Co Ltd (Hong Kong)		1,635
	1,104,000		China Power International Development Ltd		204
	408,500		China Railway Construction Corp		452
	151,613		China Railway Construction Corp Ltd		207
	274,400		China Railway Group Ltd		206
	820,000		China Railway Group Ltd (Hong Kong)		434
	11,400	*	China Railway Hi-tech Industry Co Ltd		15
	370,000	g	China Railway Signal & Communication Corp Ltd		184
	1,334,000		China Reinsurance Group Corp		154

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	298,000		China Resources Beer Holdings Company Ltd	$	1,351
	22,400	*	China Resources Double Crane Pharmaceutical Co Ltd		40
	182,000		China Resources Gas Group Ltd		913
	647,836		China Resources Land Ltd		2,644
	351,500	g	China Resources Pharmaceutical Group Ltd		210
	404,000		China Resources Power Holdings Co		443
	16,300		China Resources Sanjiu Medical & Pharmaceutical Co Ltd		63
	76,600		China Shenhua Energy Co Ltd		174
	736,500		China Shenhua Energy Co Ltd (Hong Kong)		1,392
	305,300		China Shipbuilding Industry Co Ltd		180
	278,000		China Shipping Development Co Ltd		147
	22,800		China South Publishing & Media Group Co Ltd		34
	364,000	e	China Southern Airlines Co Ltd		154
	102,600		China Southern Airlines Co Ltd (Class A)		74
	15,700		China Spacesat Co Ltd		64
	511,720		China State Construction Engineering Corp Ltd		376
	392,000		China State Construction International Holdings Ltd		287
	2,970,000		China Telecom Corp Ltd		900
	210,730,000	g	China Tower Corp Ltd		46,824
	17,400		China TransInfo Technology Co Ltd		49
	1,304,000		China Unicom Ltd		761
	410,500		China United Network Communications Ltd		299
	311,000		China Vanke Co Ltd		1,013
	124,000		China Vanke Co Ltd (Class A)		444
	281,900		China Yangtze Power Co Ltd		686
	373,600	e	China Zhongwang Holdings Ltd		98
	7,800		Chinese Universe Publishing and Media Group Co Ltd		13
	6,200		Chongqing Brewery Co Ltd		40
	42,600		Chongqing Changan Automobile Co Ltd		63
	13,200	*	Chongqing Fuling Zhacai Group Co Ltd		58
	634,000		Chongqing Rural Commercial Bank		258
	15,000		Chongqing Zhifei Biological Products Co Ltd		142
	544,535		CIFI Holdings Group Co Ltd		386
	28,700	*	CITIC Guoan Information Industry Co Ltd		12
	1,187,000		Citic Pacific Ltd		1,230
	16,668,500		CITIC Securities Co Ltd		30,226
	130,000		CITIC Securities Co Ltd (Class A)		403
	3,728,000		CNOOC Ltd		3,874
	26,800		Contemporary Amperex Technology Co Ltd		452
	406,445		COSCO Pacific Ltd		195
	82,500	*	COSCO SHIPPING Development Co Ltd		23
	64,900	*	COSCO SHIPPING Energy Transportation Co Ltd		68
	77,500	*	COSCO SHIPPING Holdings Co Ltd		44
	1,545,000		Country Garden Holdings Co Ltd		1,847
	250,000		Country Garden Services Holdings Co Ltd		1,006
	955,000		CRRC Corp Ltd		481
	316,800		CRRC Corp Ltd (Class A)		290
	37,900	*	CSC Financial Co Ltd		164
	944,000		CSPC Pharmaceutical Group Ltd		1,857
	417,500	g	Dali Foods Group Co Ltd		290
	103,100	*	Dalian Port PDA Co Ltd		25
	231,700		Daqin Railway Co Ltd		221
	940,000		Datang International Power Generation Co Ltd		125
	11,300	*	Dawning Information Industry Co Ltd		69

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	42,000		DHC Software Co Ltd	$	76
	14,300		Dong-E-E-Jiao Co Ltd		51
	31,200		Dongfang Electric Corp Ltd		37
	588,000		Dongfeng Motor Group Co Ltd		383
	27,500		Dongxing Securities Co Ltd		42
	82,300		East Money Information Co Ltd		185
	161,100		ENN Energy Holdings Ltd		1,561
	12,400	*	Eve Energy Co Ltd		100
	42,900		Everbright Securities Co Ltd		66
	37,317	*	Fangda Carbon New Material Co Ltd		47
	420,000		Far East Horizon Ltd		336
	16,600		Fiberhome Telecommunication Technologies Co Ltd		76
	45,000	*	First Capital Securities Co Ltd		43
	194,500		Focus Media Information Technology Co Ltd		120
	28,400		Foshan Haitian Flavouring & Food Co Ltd		499
	531,500		Fosun International		610
	105,300		Founder Securities Co Ltd		106
	51,300		Foxconn Industrial Internet Co Ltd		94
	1,050,000		Franshion Properties China Ltd		669
	12,500	*	Fujian Sunner Development Co Ltd		41
	432,000		Future Land Development Holdings Ltd		385
	27,600		Future Land Holdings Co Ltd		121
	30,100		Fuyao Glass Industry Group Co Ltd		81
	107,200	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		228
	700		G-bits Network Technology Xiamen Co Ltd		40
	69,900	*	GCL System Integration Technology Co Ltd		30
	342,400		GD Power Development Co Ltd		98
	1,624,873	*	GDS Holdings Ltd (ADR)		94,194
	1,024,000		Geely Automobile Holdings Ltd		1,486
	29,200		GEM Co Ltd		19
	59,700		Gemdale Corp		118
	192,000	*,e	Genscript Biotech Corp		307
	304,000	*	GF Securities Co Ltd		323
	76,000	*	GF Securities Co Ltd (Class A)		146
	15,000		Giant Network Group Co Ltd		35
	4,200	*	Gigadevice Semiconductor Beijing, Inc		142
	14,400	*	Glodon Co Ltd		86
	36,100		GoerTek, Inc		82
	2,041,000	*,e	GOME Electrical Appliances Holdings Ltd		188
	13,100	*	Grandjoy Holdings Group Co Ltd		10
	656,500	e	Great Wall Motor Co Ltd		416
	38,300	*	Gree Electric Appliances, Inc of Zhuhai		279
	73,800		Greenland Holdings Corp Ltd		56
	218,000		Greentown Service Group Co Ltd		262
	30,400		GRG Banking Equipment Co Ltd		37
	18,500		Guangdong Haid Group Co Ltd		104
	36,200		Guangdong HEC Technology Holding Co Ltd		35
	604,000		Guangdong Investments Ltd		1,159
	74,500	*	Guangdong LY Intelligent Manufacturing Co Ltd		85
	132,800		Guanghui Energy Co Ltd		48
	135,200		Guangshen Railway Co Ltd		45
	26,300		Guangzhou Automobile Group Co Ltd		39
	606,000		Guangzhou Automobile Group Co Ltd (Hong Kong)		603
	31,300		Guangzhou Baiyun International Airport Co Ltd		55

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	22,300		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd	$	98
	23,500		Guangzhou Haige Communications Group, Inc Co		37
	6,500		Guangzhou Kingmed Diagnostics Group Co Ltd		51
	277,600		Guangzhou R&F Properties Co Ltd		357
	8,500		Guizhou Bailing Group Pharmaceutical Co Ltd		10
	62,000		Guosen Securities Co Ltd		96
	95,400		Guotai Junan Securities Co Ltd		217
	160,000	g	Guotai Junan Securities Co Ltd (Hong Kong)		236
	8,600		Guoxuan High-Tech Co Ltd		21
	32,300	*	Guoyuan Securities Co Ltd		38
	77,000	e,g	Haidilao International Holding Ltd		297
	262,000		Haier Electronics Group Co Ltd		692
	136,000		Haitian International Holdings Ltd		252
	11,187,492		Haitong Securities Co Ltd		10,162
	101,700		Haitong Securities Co Ltd (Class A)		183
	113,400		Hangzhou Hikvision Digital Technology Co Ltd		440
	11,730		Hangzhou Robam Appliances Co Ltd		47
	17,000		Hangzhou Silan Microelectronics Co Ltd		34
	127,200		Hangzhou Tigermed Consulting Co Ltd		1,139
	106,000	*,g	Hansoh Pharmaceutical Group Co Ltd		354
	6,400		Hefei Meiya Optoelectronic Technology, Inc		34
	24,400	*	Heilongjiang Agriculture Co Ltd		59
	33,700		Henan Shuanghui Investment & Development Co Ltd		185
	149,000	e	Hengan International Group Co Ltd		1,113
	73,280		Hengli Petrochemical Co Ltd		127
	27,200		Hengtong Optic-electric Co Ltd		61
	34,100		Hengyi Petrochemical Co Ltd		60
	91,000		Hesteel Co Ltd		27
	7,200	*	Hithink RoyalFlush Information Network Co Ltd		109
	35,400		HLA Corp Ltd		31
	19,300		Holitech Technology Co Ltd		15
	9,100		Hongfa Technology Co Ltd		35
	6,260		Hopewell Highway Infrastructure Ltd		2
	100,000	e,g	Hua Hong Semiconductor Ltd		180
	48,600		Huaan Securities Co Ltd		53
	406,000		Huadian Power International Corp Ltd		120
	95,000		Huadian Power International Corp Ltd (Class A)		46
	29,240		Huadong Medicine Co Ltd		71
	17,200	*	Hualan Biological Engineering, Inc		115
	113,600		Huaneng Power International, Inc		75
	890,000		Huaneng Power International, Inc (Hong Kong)		332
	352,800	g	Huatai Securities Co Ltd		520
	94,400		Huatai Securities Co Ltd (Class A)		228
	30,800		Huaxi Securities Co Ltd		45
	119,200		Huaxia Bank Co Ltd		108
	17,000		Huaxin Cement Co Ltd		55
	36,500		Huayu Automotive Systems Co Ltd		110
	26,800		Huazhu Group Ltd (ADR)		770
	51,000		Hubei Biocause Pharmaceutical Co Ltd		42
	15,600	*	Hubei Jumpcan Pharmaceutical Co Ltd		48
	6,200		Hubei Kaile Science & Technology Co Ltd		12
	25,600	*	Hunan Valin Steel Co Ltd		14
	10,510		Hundsun Technologies, Inc		129
	12,200	*	Hutchison China MediTech Ltd (ADR)		218

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	13,800	*	HUYA, Inc (ADR)	$	234
	27,700		Iflytek Co Ltd		132
	657,300		Industrial & Commercial Bank of China Ltd		475
	13,237,000		Industrial & Commercial Bank of China Ltd (Hong Kong)		9,030
	255,900		Industrial Bank Co Ltd		570
	83,900		Industrial Securities Co Ltd		73
	578,600		Inner Mongolia BaoTou Steel Union Co Ltd		93
	8,300		Inner Mongolia First Machinery Group Co Ltd		11
	92,700	*	Inner Mongolia Junzheng Energy & Chemical Industry Group Co Ltd		32
	34,700		Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd		13
	79,300		Inner Mongolia Yili Industrial Group Co Ltd		331
	243,000		Inner Mongolia Yitai Coal Co		158
	189,000	*,g	Innovent Biologics, Inc		789
	17,584		Inspur Electronic Information Industry Co Ltd		94
	27,100	*,e	IQIYI, Inc (ADR)		482
	5,400		Jafron Biomedical Co Ltd		72
	149,100	*	JD.com, Inc (ADR)		6,039
	34,800		Jiangsu Changshu Rural Commercial Bank Co Ltd		33
	288,000		Jiangsu Express		320
	9,800		Jiangsu Hengli Hydraulic Co Ltd		84
	154,917	*	Jiangsu Hengrui Medicine Co Ltd		1,989
	16,300		Jiangsu King’s Luck Brewery JSC Ltd		64
	19,600		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		230
	4,300		Jiangsu Yangnong Chemical Co Ltd		41
	12,100		Jiangsu Yuyue Medical Equipment & Supply Co Ltd		62
	44,600		Jiangsu Zhongnan Construction Group Co Ltd		48
	49,300		Jiangsu Zhongtian Technology Co Ltd		66
	270,000		Jiangxi Copper Co Ltd		248
	32,458		Jiangxi Copper Co Ltd (Class A)		57
	11,700		Jiangxi Ganfeng Lithium Co Ltd		66
	32,400		Jiangxi Zhengbang Technology Co Ltd		86
	21,500		Jilin Aodong Pharmaceutical Group Co Ltd		47
	14,400		Jinduicheng Molybdenum Co Ltd		12
	51,200		Jinke Properties Group Co Ltd		57
	14,000	*	Jinyu Bio-Technology Co Ltd		42
	29,900		Joincare Pharmaceutical Group Industry Co Ltd		48
	20,900		Jointown Pharmaceutical Group Co Ltd		50
	11,700	*	Jonjee Hi-Tech Industrial And Commercial Holding Co Ltd		78
	12,000	*	JOYY, Inc (ADR)		639
	9,700		Juewei Food Co Ltd		71
	6,600	*	Juneyao Airlines Co Ltd		9
	533,000	e	Kaisa Group Holdings Ltd		194
	143,000		Kingboard Chemical Holdings Ltd		332
	471,000		Kingdee International Software Group Co Ltd		620
	1,043,000	*,e	Kingsoft Corp Ltd		3,353
	15,300		Kweichow Moutai Co Ltd		2,378
	249,064		KWG Property Holding Ltd		349
	3,400		Laobaixing Pharmacy Chain JSC		37
	291,000		Lee & Man Paper Manufacturing Ltd		175
	90,100	g	Legend Holdings Corp		110
	1,464,000		Lenovo Group Ltd		776

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	37,000		Lens Technology Co Ltd	$	75
	21,000		Lepu Medical Technology Beijing Co Ltd		106
	16,000		Leyard Optoelectronic Co Ltd		14
	402,500		Li Ning Co Ltd		1,158
	17,200	*	Liaoning Cheng Da Co Ltd		44
	8,100	*	Livzon Pharmaceutical Group, Inc		44
	276,000		Logan Property Holdings Co Ltd		420
	27,000	*	Lomon Billions Group Co Ltd		56
	362,000	g	Longfor Properties Co Ltd		1,742
	47,260		LONGi Green Energy Technology Co Ltd		164
	17,100	*,e	Luckin Coffee, Inc (ADR)		465
	28,300		Luxi Chemical Group Co Ltd		32
	64,801		Luxshare Precision Industry Co Ltd		344
	254,000	g	Luye Pharma Group Ltd		122
	18,400		Luzhou Laojiao Co Ltd		189
	188,000	e	Maanshan Iron & Steel Co Ltd		59
	51,312	*	Maanshan Iron & Steel Co Ltd (Class A)		18
	18,590	*	Mango Excellent Media Co Ltd		113
	47,000		Meinian Onehealth Healthcare Holdings Co Ltd		78
	205,000	*	Meituan Dianping (Class B)		2,444
	188,900		Metallurgical Corp of China Ltd		69
	739,000		Metallurgical Corp of China Ltd (Hong Kong)		129
	31,300		Momo, Inc (ADR)		679
	25,800		Muyuan Foodstuff Co Ltd		440
	29,500	*	NanJi E-Commerce Co Ltd		48
	23,000	*	Nanjing Iron & Steel Co Ltd		10
	7,500		Nanjing King-Friend Biochemical Pharmaceutical Co Ltd		53
	42,500		Nanjing Securities Co Ltd		93
	54,000		NARI Technology Co Ltd		148
	6,000		NAURA Technology Group Co Ltd		97
	26,700		NavInfo Co Ltd		52
	14,400		Netease.com (ADR)		4,622
	29,700		New China Life Insurance Co Ltd		165
	175,100		New China Life insurance Co Ltd (Hong Kong)		539
	55,800		New Hope Liuhe Co Ltd		244
	28,800	*	New Oriental Education & Technology Group (ADR)		3,117
	6,500		Newland Digital Technology Co Ltd		14
	12,100		Ninestar Corp		45
	15,700	*	Ningbo Joyson Electronic Corp		41
	124,800		Ningbo Zhoushan Port Co Ltd		62
	133,900	*,e	NIO, Inc (ADR)		372
	7,500	*,e	Noah Holdings Ltd (ADR)		194
	30,200		Northeast Securities Co Ltd		35
	29,000		Oceanwide Holdings Co Ltd		16
	93,200		Offshore Oil Engineering Co Ltd		64
	35,400	*	O-film Tech Co Ltd		67
	3,600		Oppein Home Group, Inc		48
	63,000		Orient Securities Co Ltd		80
	4,500		Ovctek China, Inc		35
	91,300	*	Pacific Securities Co Ltd		42
	90,600	*	Pangang Group Vanadium Titanium & Resources Co Ltd		28
	1,795,000		People’s Insurance Co Group of China Ltd		588
	70,300	*	People’s Insurance Co Group of China Ltd (Class A)		62
	15,600		Perfect World Co Ltd		104

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,414,000		PICC Property & Casualty Co Ltd	$	1,354
	39,332	*	Pinduoduo, Inc (ADR)		1,417
	234,500		Ping An Bank Co Ltd		420
	279,800	*,e,g	Ping An Healthcare and Technology Co Ltd		2,576
	7,584,703		Ping An Insurance Group Co of China Ltd		74,074
	132,500		Ping An Insurance Group Co of China Ltd (Class A)		1,282
	149,400		Poly Real Estate Group Co Ltd		311
	1,636,000	g	Postal Savings Bank of China Co Ltd		996
	175,500		Power Construction Corp of China Ltd		97
	75,200		Qingdao Haier Co Ltd		151
	51,600		RiseSun Real Estate Development Co Ltd		56
	41,500		Rongsheng Petro Chemical Co Ltd		64
	100,100		SAIC Motor Corp Ltd		287
	51,600		Sanan Optoelectronics Co Ltd		137
	4,400		Sangfor Technologies, Inc		98
	30,800		Sansteel Minguang Co Ltd		34
	100,600		Sany Heavy Industry Co Ltd		242
	36,400		SDIC Capital Co Ltd		62
	98,000		SDIC Power Holdings Co Ltd		109
	34,800	*	Sealand Securities Co Ltd		21
	623,000	*,e	Semiconductor Manufacturing International Corp		979
	22,600		SF Holding Co Ltd		149
	130,100		Shaanxi Coal Industry Co Ltd		136
	19,970		Shandong Buchang Pharmaceuticals Co Ltd		56
	36,400	*	Shandong Gold Mining Co Ltd		175
	20,100	*	Shandong Hualu Hengsheng Chemical Co Ltd		44
	3,700		Shandong Linglong Tyre Co Ltd		10
	177,200		Shandong Nanshan Aluminum Co Ltd		51
	5,100	*	Shandong Sinocera Functional Material Co Ltd		15
	28,800		Shandong Sun Paper Industry JSC Ltd		35
	420,000		Shandong Weigao Group Medical Polymer Co Ltd		527
	212,500	*	Shandong Xinchao Energy Corp Ltd		52
	39,800		Shanghai 2345 Network Holding Group Co Ltd		15
	10,900		Shanghai AJ Group Co Ltd		12
	10,300		Shanghai Baosight Software Co Ltd		57
	74,200		Shanghai Construction Group Co Ltd		33
	80,700		Shanghai Electric Group Co Ltd		52
	650,000		Shanghai Electric Group Co Ltd (Hong Kong)		171
	32,800	*	Shanghai Electric Power Co Ltd		32
	25,600		Shanghai Fosun Pharmaceutical Group Co Ltd		117
	109,500	e	Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		355
	104,000		Shanghai Industrial Holdings Ltd		156
	14,800		Shanghai International Airport Co Ltd		126
	126,600		Shanghai International Port Group Co Ltd		79
	13,300	*	Shanghai Jahwa United Co Ltd		47
	9,200	*	Shanghai Jinjiang International Hotels Development Co Ltd		31
	267,269		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		214
	10,700		Shanghai M&G Stationery, Inc		69
	44,100		Shanghai Oriental Pearl Group Co Ltd		54
	31,700		Shanghai Pharmaceuticals Holding Co Ltd		87
	182,600		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		308

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	356,000		Shanghai Pudong Development Bank Co Ltd	$	507
	66,900	*	Shanghai RAAS Blood Products Co Ltd		72
	4,800		Shanghai Waigaoqiao Free Trade Zone Group Co Ltd		10
	31,100	*	Shanghai Yuyuan Tourist Mart Group Co Ltd		32
	20,500		Shanghai Zhangjiang High-Tech Park Development Co Ltd		35
	61,779		Shanxi Lu’an Environmental Energy Development Co Ltd		50
	62,400	*	Shanxi Meijin Energy Co Ltd		57
	23,100		Shanxi Securities Co Ltd		23
	24,500		Shanxi Taigang Stainless Steel Co Ltd		11
	11,200		Shanxi Xinghuacun Fen Wine Factory Co Ltd		142
	87,900		Shanxi Xishan Coal & Electricity Power Co Ltd		59
	56,400		Shenergy Co Ltd		42
	13,600		Shenghe Resources Holding Co Ltd		13
	27,700	*	Shengyi Technology Co Ltd		102
	4,200	*	Shennan Circuits Co Ltd		115
	282,300		Shenwan Hongyuan Group Co Ltd		174
	33,600	*	Shenzhen Airport Co Ltd		36
	148,000	*	Shenzhen Expressway Co Ltd		150
	4,500		Shenzhen Goodix Technology Co Ltd		163
	17,500		Shenzhen Hepalink Pharmaceutical Group Co Ltd		50
	21,100		Shenzhen Inovance Technology Co Ltd		76
	206,985		Shenzhen International Holdings Ltd		375
	606,776		Shenzhen Investment Ltd		188
	7,200		Shenzhen Kangtai Biological Products Co Ltd		115
	6,800	*	Shenzhen Kingdom Sci-Tech Co Ltd		16
	62,161		Shenzhen Mindray Bio-Medical Electronics Co Ltd		2,262
	86,800		Shenzhen Overseas Chinese Town Co Ltd		77
	20,200		Shenzhen Salubris Pharmaceuticals Co Ltd		50
	11,600	*	Shenzhen Sunway Communication Co Ltd		55
	18,400		Shenzhen Zhongjin Lingnan Nonfemet Co Ltd		9
	151,400		Shenzhou International Group Holdings Ltd		1,588
	17,200		Shijiazhuang Yiling Pharmaceutical Co Ltd		54
	233,500		Shimao Property Holdings Ltd		809
	818,500		Shui On Land Ltd		136
	11,900	*	Siasun Robot & Automation Co Ltd		23
	68,300		Sichuan Chuantou Energy Co Ltd		88
	91,700	*	Sichuan Hebang Biotechnology Co Ltd		19
	21,900		Sichuan Kelun Pharmaceutical Co Ltd		63
	13,700		Sichuan Languang Development Co Ltd		12
	6,600		Sichuan Swellfun Co Ltd		40
	219,400		Silergy Corp		7,116
	13,084	*	Sina Corp		417
	35,900		Sinolink Securities Co Ltd		46
	623,000		Sino-Ocean Land Holdings Ltd		158
	360,000	e	Sinopec Engineering Group Co Ltd		150
	880,000		Sinopec Shanghai Petrochemical Co Ltd		217
	119,300		Sinopec Shanghai Petrochemical Co Ltd (Class A)		65
	278,800		Sinopharm Group Co		618
	558,000		Sinotrans Ltd		136
	24,400		Sinotrans Ltd (Class A)		12
	150,500		Sinotruk Hong Kong Ltd		247
	428,000		Soho China Ltd		219
	16,000		Songcheng Performance Development Co Ltd		56

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	43,940		SooChow Securities Co Ltd	$	48
	60,100		Southwest Securities Co Ltd		38
	7,300		Spring Airlines Co Ltd		33
	490,000		Sun Art Retail Group Ltd		721
	490,000		Sunac China Holdings Ltd		2,235
	123,500		Suning.com Co Ltd		156
	974,200		Sunny Optical Technology Group Co Ltd		12,887
	19,000		Sunwoda Electronic Co Ltd		37
	15,500	*	Suofeiya Home Collection Co Ltd		39
	16,500		Suzhou Dongshan Precision Manufacturing Co Ltd		47
	42,100		Suzhou Gold Mantis Construction Decoration Co Ltd		48
	20,000		Tahoe Group Co Ltd		14
	77,500	*	TAL Education Group (ADR)		4,128
	16,900	*	Tangshan Jidong Cement Co Ltd		46
	63,400		TangShan Port Group Co Ltd		20
	28,400		Tasly Pharmaceutical Group Co Ltd		55
	35,400		TBEA Co Ltd		36
	156,400		TCL Corp		90
	9,800	*	Tech-Bank Food Co Ltd		16
	4,499,500		Tencent Holdings Ltd		222,399
	21,700	*	Tencent Music Entertainment (ADR)		218
	49,800		Tian Di Science & Technology Co Ltd		21
	33,400	*	Tianjin Zhonghuan Semiconductor Co Ltd		67
	21,800		Tianma Microelectronics Co Ltd		40
	20,360		Tianqi Lithium Corp		52
	406,000		Tingyi Cayman Islands Holding Corp		660
	7,300		Toly Bread Co Ltd		51
	31,900		Tonghua Dongbao Pharmaceutical Co Ltd		47
	23,300		Tongkun Group Co Ltd		38
	57,100		Tongling Nonferrous Metals Group Co Ltd		16
	52,600		Tongwei Co Ltd		85
	4,600	*	Topchoice Medical Corp		69
	6,711,912	g	Topsports International Holdings Ltd		6,957
	43,700		Transfar Zhilian Co Ltd		38
	196,000		Travelsky Technology Ltd		343
	95,500	*	Trip.com Group Ltd (ADR)		2,239
	82,000		Tsingtao Brewery Co Ltd		414
	9,100		Tsingtao Brewery Co Ltd (Class A)		58
	51,000		Tunghsu Optoelectronic Technology Co Ltd		21
	12,700		Tus-Sound Environmental Resources Co Ltd		14
	7,200		Unigroup Guoxin Microelectronics Co Ltd		50
	266,000		Uni-President China Holdings Ltd		257
	20,500		Unisplendour Corp Ltd		101
	8,400		Universal Scientific Industrial Shanghai Co Ltd		19
	9,900		Venustech Group, Inc		51
	88,500	*	Vipshop Holdings Ltd (ADR)		1,379
	7,500	*	Visionox Technology, Inc		12
	6,300		Visual China Group Co Ltd		14
	19,100		Walvax Biotechnology Co Ltd		85
	29,200	*	Wanda Film Holding Co Ltd		64
	29,900		Wangsu Science & Technology Co Ltd		32
	38,700		Wanhua Chemical Group Co Ltd		223
	1,030,000	e	Want Want China Holdings Ltd		743
	11,400	*,e	Weibo Corp (ADR)		377

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	401,000		Weichai Power Co Ltd	$	639
	71,000	*	Weichai Power Co Ltd (Class A)		118
	11,600		Weifu High-Technology Group Co Ltd		31
	6,000	*	Weihai Guangwei Composites Co Ltd		42
	66,200		Wens Foodstuffs Group Co Ltd		299
	31,100		Western Securities Co Ltd		36
	10,700		Westone Information Industry, Inc		33
	6,800		Will Semiconductor Ltd		147
	11,900	*	Wingtech Technology Co Ltd		169
	22,500		Winning Health Technology Group Co Ltd		66
	472,000		Winteam Pharmaceutical Group Ltd		213
	61,700		Wuchan Zhongda Group Co Ltd		41
	10,600		Wuhan Guide Infrared Co Ltd		50
	22,600		Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd		103
	48,300		Wuliangye Yibin Co Ltd		777
	21,900	*	WUS Printed Circuit Kunshan Co Ltd		72
	18,200		WuXi AppTec Co Ltd		229
	31,600	e,g	WuXi AppTec Co Ltd (Hong Kong)		384
	2,864,450	*,g	Wuxi Biologics Cayman, Inc		36,570
	10,800		Wuxi Lead Intelligent Equipment Co Ltd		56
	78,500		XCMG Construction Machinery Co Ltd		55
	12,300		Xiamen C & D, Inc		13
	8,700		Xiamen Tungsten Co Ltd		14
	2,108,800	*,e,g	Xiaomi Corp		2,800
	110,000		Xinhu Zhongbao Co Ltd		46
	42,600		Xinjiang Goldwind Science & Technology Co Ltd		56
	178,200		Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		154
	12,500		Xinjiang Zhongtai Chemical Co Ltd		9
	84,800		Xinxing Ductile Iron Pipes Co Ltd		41
	810,863		Xinyi Solar Holdings Ltd		450
	48,100		Yango Group Co Ltd		47
	89,249	e	Yangzijiang Shipbuilding		52
	13,300		Yantai Jereh Oilfield Services Group Co Ltd		41
	400,000		Yanzhou Coal Mining Co Ltd		310
	39,000		Yanzhou Coal Mining Co Ltd (Class A)		47
	4,700		Yealink Network Technology Corp Ltd		53
	15,100		Yifan Pharmaceutical Co Ltd		34
	5,100		Yifeng Pharmacy Chain Co Ltd		67
	97,000		Yihai International Holding Ltd		731
	26,300	*	Yintai Gold Co Ltd		53
	120,400		Yonghui Superstores Co Ltd		173
	32,430		Yonyou Network Technology Co Ltd		183
	6,000	*	Youzu Interactive Co Ltd		16
	9,700		Yuan Longping High-tech Agriculture Co Ltd		25
	1,322,000		Yuexiul Property Co Ltd		236
	540,769		Yum China Holdings, Inc		23,053
	15,800		Yunda Holding Co Ltd		68
	16,500		Yunnan Baiyao Group Co Ltd		198
	8,200	*	Yunnan Energy New Material Co Ltd		49
	8,500	*	Yunnan Tin Co Ltd		10
	401,220		Yuzhou Properties Co		169
	7,500	*	Zai Lab Ltd (ADR)		386

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	7,100		Zhangzhou Pientzehuang Pharmaceutical Co Ltd	$	123
	217,000	e	Zhaojin Mining Industry Co Ltd		218
	30,600	*	Zhejiang Chint Electrics Co Ltd		101
	44,700		Zhejiang Conba Pharmaceutical Co Ltd		32
	33,600		Zhejiang Dahua Technology Co Ltd		76
	1,900		Zhejiang Dingli Machinery Co Ltd		15
	330,000		Zhejiang Expressway Co Ltd		228
	22,000	*	Zhejiang Huahai Pharmaceutical Co Ltd		79
	14,910		Zhejiang Huayou Cobalt Co Ltd		61
	11,000		Zhejiang Jiahua Energy Chemical Industry Co Ltd		14
	36,900		Zhejiang Juhua Co Ltd		35
	43,900		Zhejiang Longsheng Group Co Ltd		73
	24,900		Zhejiang NHU Co Ltd		95
	37,300		Zhejiang Sanhua Intelligent Controls Co Ltd		83
	11,300		Zhejiang Semir Garment Co Ltd		11
	6,300		Zhejiang Supor Co Ltd		61
	15,100		Zhejiang Wanfeng Auto Wheel Co Ltd		14
	20,500		Zhejiang Weixing New Building Materials Co Ltd		32
	7,700	*	Zhejiang Wolwo Bio-Pharmaceutical Co Ltd		48
	28,200		Zhengzhou Yutong Bus Co Ltd		54
	271,000	*	Zhenro Properties Group Ltd		169
	36,500	*	Zheshang Securities Co Ltd		51
	63,700	*,e,g	ZhongAn Online P&C Insurance Co Ltd		207
	7,200		Zhongji Innolight Co Ltd		54
	47,900		Zhongjin Gold Corp Ltd		54
	118,500		Zhongsheng Group Holdings Ltd		411
	115,800		Zhuzhou CSR Times Electric Co Ltd		343
	1,198,000		Zijin Mining Group Co Ltd		449
	288,000	*	Zijin Mining Group Co Ltd (Class A)		148
	61,800		Zoomlion Heavy Industry Science and Technology Co Ltd		49
	46,800	*	ZTE Corp		280
	157,400	*,e	ZTE Corp (Class H)		480
	64,200	*	ZTO Express Cayman, Inc (ADR)		1,700
			TOTAL CHINA		1,035,879
COLOMBIA - 0.0%
	39,389		BanColombia S.A.		234
	90,186		BanColombia S.A. (Preference)		611
	1,195,746		Ecopetrol S.A.		559
	63,972		Grupo Argos S.A.		194
	802,531		Grupo Aval Acciones y Valores		177
	46,112		Grupo de Inversiones Suramericana S.A.		227
	90,371		Interconexion Electrica S.A.		345
			TOTAL COLOMBIA		2,347
CZECH REPUBLIC - 0.0%
	34,971		CEZ AS		570
	14,509		Komercni Banka AS		274
	1,829,559	g	Moneta Money Bank AS		3,768
			TOTAL CZECH REPUBLIC		4,612
DENMARK - 1.3%
	116		AP Moller - Maersk AS (Class A)		95
	194		AP Moller - Maersk AS (Class B)		172

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,173		Carlsberg AS (Class B)	$	357
	3,135		Christian Hansen Holding		231
	15,525		Coloplast AS		2,252
	19,253	*	Danske Bank AS		214
	222,242		DSV AS		20,208
	18,956	*	Genmab AS		3,808
	2,067		H Lundbeck AS		61
	4,362	e	ISS AS		60
	2,089,808		Novo Nordisk AS		124,795
	6,336		Novozymes AS		284
	615,021	g	Orsted AS		60,209
	2,673	e	Pandora AS		86
	3,724		Tryg A.S.		91
	5,605		Vestas Wind Systems AS		456
	3,284	*,e	William Demant Holding A.S.		71
			TOTAL DENMARK		213,450
EGYPT - 0.0%
	278,205	*	Commercial International Bank		1,032
	213,703		Eastern Tobacco		167
	195,691		ElSwedy Cables Holding Co		97
			TOTAL EGYPT		1,296
FINLAND - 0.1%
	12,149	e	Citycon Oyj		75
	4,215	e	Elisa Oyj (Series A)		260
	13,155	*	Fortum Oyj		191
	10,068		Kone Oyj (Class B)		564
	3,159		Metso Oyj		74
	12,507		Neste Oil Oyj		416
	167,240		Nokia Oyj (Turquoise)		515
	3,824	e	Nokian Renkaat Oyj		91
	125,247	*,e	Nordea Bank Abp		705
	2,917	*,e	Orion Oyj (Class B)		119
	217,648		Sampo Oyj (A Shares)		6,279
	72,188	*	Stora Enso Oyj (R Shares)		722
	15,797	e	UPM-Kymmene Oyj		431
	13,889		Wartsila Oyj (B Shares)		101
			TOTAL FINLAND		10,543
FRANCE - 3.3%
	200,127		Accor S.A.		5,377
	887		Aeroports de Paris		86
	14,008		Air Liquide		1,788
	959,780		Airbus SE		61,888
	5,657		Alstom RGPT		234
	1,803	g	Amundi S.A.		104
	2,152		Arkema		147
	2,929		Atos Origin S.A.		195
	57,301		AXA S.A.		970
	1,207		BioMerieux		137
	1,350,603		BNP Paribas S.A.		39,431
	26,852		Bollore		73
	6,666		Bouygues S.A.		193

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	8,757		Bureau Veritas S.A.	$	165
	255,329		Cap Gemini S.A.		21,336
	18,022	e	Carrefour S.A.		286
	1,377	e	Casino Guichard Perrachon S.A.		53
	4,745		CNP Assurances		46
	557,776		Compagnie de Saint-Gobain		13,384
	429,637		Credit Agricole S.A.		3,040
	181,302		Danone		11,603
	76		Dassault Aviation S.A.		62
	365,377		Dassault Systemes S.A.		53,342
	7,229		Edenred		300
	2,491		Eiffage S.A.		177
	82,295		Electricite de France		644
	204,093		Essilor International S.A.		21,608
	1,203		Eurazeo		54
	4,621		Eutelsat Communications		48
	2,253		Faurecia		66
	4,246		Fonciere Des Regions		238
	260,451		Gaz de France		2,667
	5,156		Gecina S.A.		678
	14,020		Getlink S.E.		170
	937		Hermes International		638
	6,971		Icade		547
	384		Iliad S.A.		52
	1,742		Ingenico		182
	1,054		Ipsen		54
	2,420	e	JC Decaux S.A.		43
	108,911		Kering		56,788
	5,574	e	Klepierre		106
	7,919		Legrand S.A.		505
	153,734		L’Oreal S.A.		39,788
	60,950		LVMH Moet Hennessy Louis Vuitton S.A.		22,353
	91,593		Michelin (C.G.D.E.) (Class B)		8,022
	26,864	e	Natixis		86
	267,270		Orange S. A.		3,236
	11,551		Pernod-Ricard S.A.		1,639
	16,807	e	Peugeot S.A.		219
	6,639		Publicis Groupe S.A.		190
	608	e	Remy Cointreau S.A.		66
	5,451	e	Renault S.A.		104
	9,703		Safran S.A.		860
	284,351		Sanofi-Aventis		24,618
	15,840	*	Sartorius Stedim Biotech		3,161
	759,384		Schneider Electric S.A.		64,185
	4,499		SCOR SE		99
	654		SEB S.A.		81
	24,105		Societe Generale		395
	2,818	e	Sodexho Alliance S.A.		189
	53,986		Suez Environnement S.A.		548
	149,894		Teleperformance		31,046
	3,168		Thales S.A.		262
	122,405	e	Total S.A.		4,612
	109,622	*	Ubisoft Entertainment		8,012
	4,066	e	Unibail-Rodamco-Westfield		233

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3		Unibail-Rodamco-Westfield (Paris)	$	0	^
	6,766		Valeo S.A.		110
	74,683		Veolia Environnement		1,577
	142,793		Vinci S.A.		11,668
	24,580		Vivendi Universal S.A.		520
	1,060		Wendel		84
	3,795	*,g	Worldline S.A.		224
			TOTAL FRANCE		527,692
GERMANY - 2.2%
	42,139		Adidas-Salomon AG.		9,356
	3,037	g	ADO Properties S.A.		69
	81,259		Allianz AG.		13,838
	273,468		Alstria Office REIT-AG.		3,925
	429,092		Aroundtown S.A.		2,148
	86,117		BASF SE		4,025
	393,952		Bayer AG.		22,573
	73,181		Bayerische Motoren Werke AG.		3,736
	2,287		Bayerische Motoren Werke AG. (Preference)		97
	57,600		Bechtle AG.		7,253
	127,435		Beiersdorf AG.		12,831
	1,158,743		Borussia Dortmund GmbH & Co KGaA		6,869
	4,609		Brenntag AG.		167
	4,843		Carl Zeiss Meditec AG.		461
	28,647		Commerzbank AG.		102
	3,292		Continental AG.		235
	46,615	g	Covestro AG.		1,415
	27,055		Daimler AG. (Registered)		808
	3,362	*,g	Delivery Hero AG.		247
	68,410		Deutsche Annington Immobilien SE		3,403
	58,305		Deutsche Bank AG. (Registered)		371
	98,128		Deutsche Boerse AG.		13,481
	5,314		Deutsche Euroshop AG.		61
	6,886		Deutsche Lufthansa AG.		64
	29,341		Deutsche Post AG.		787
	659,565	*	Deutsche Telekom AG.		8,519
	51,668		Deutsche Wohnen AG.		1,958
	313,668		E.ON AG.		3,217
	6,683		Evonik Industries AG.		140
	1,173		Fraport AG. Frankfurt Airport Services Worldwide		47
	71,796		Fresenius Medical Care AG.		4,687
	12,388		Fresenius SE		461
	2,079		Fuchs Petrolub AG. (Preference)		74
	4,634		GEA Group AG.		96
	12,559		Grand City Properties S.A.		263
	1,778		Hannover Rueckversicherung AG.		251
	66,040		HeidelbergCement AG.		2,821
	532,700	*	HelloFresh SE		17,395
	25,072		Henkel KGaA		1,842
	5,274		Henkel KGaA (Preference)		422
	672		Hochtief AG.		44
	4,822,321		Infineon Technologies AG.		69,614
	1,986		KION Group AG.		85
	1,434		Knorr-Bremse AG.		126

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,608		Lanxess AG.	$	104
	7,593		LEG Immobilien AG.		851
	3,818		Merck KGaA		385
	4,835		Metro Wholesale & Food Specialist AG.		41
	1,548		MTU Aero Engines Holding AG.		224
	23,020		Muenchener Rueckver AG.		4,629
	756	*	OSRAM Licht AG.		27
	542,863	*	Paion AG.		971
	4,558		Porsche AG.		191
	2,453		Puma AG. Rudolf Dassler Sport		144
	1,559,948		RWE AG.		40,795
	29,119		SAP AG.		3,251
	1,055	*	Sartorius AG.		252
	695,908		Siemens AG.		58,272
	4,440	g	Siemens Healthineers AG.		172
	3,814		Symrise AG.		353
	15,186		TAG Tegernsee Immobilien und Beteiligungs AG.		299
	417,060	*	TeamViewer AG.		16,958
	26,454		Telefonica Deutschland Holding AG.		65
	9,748	*	ThyssenKrupp AG.		51
	7,593		TLG Immobilien AG.		120
	12,874		TUI AG. (DI)		56
	5,982		Uniper SE		147
	3,002		United Internet AG.		87
	1,571		Volkswagen AG.		206
	4,766		Volkswagen AG. (Preference)		549
	3,483		Wirecard AG.		392
	4,136	*,g	Zalando SE		156
			TOTAL GERMANY		350,132
GREECE - 0.0%
	292,111	*	Alpha Bank AE		216
	549,735	*	Eurobank Ergasias S.A.		230
	5,760	*,†	Hellenic Duty Free Shops S.A.		0	^
	47,834		Hellenic Telecommunications Organization S.A.		578
	21,369		JUMBO S.A.		287
	14,070		Motor Oil Hellas Corinth Refineries S.A.		172
	113,314	*	National Bank of Greece S.A.		149
	41,509		OPAP S.A.		313
			TOTAL GREECE		1,945
HONG KONG - 0.5%
	3,713,558		AIA Group Ltd		33,254
	2,960,000	*,e	Alibaba Pictures Group Ltd		378
	9,518		ASM Pacific Technology		88
	40,685		Bank of East Asia Ltd		87
	111,853		BOC Hong Kong Holdings Ltd		307
	130,000	e	Cathay Pacific Airways Ltd		139
	495,999		China Resources Cement Holdings Ltd		583
	77,625	e	CK Asset Holdings Ltd		421
	61,453	e	CK Infrastructure Holdings Ltd		325
	244,454		CLP Holdings Ltd		2,239
	9,900		Dairy Farm International Holdings Ltd		46
	462,576		Hang Lung Properties Ltd		933

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	23,172		Hang Seng Bank Ltd	$	395
	240,082	e	Henderson Land Development Co Ltd		909
	77,000		HK Electric Investments & HK Electric Investments Ltd		74
	112,660		HKT Trust and HKT Ltd		153
	1,437,980		Hong Kong & China Gas Ltd		2,355
	184,488		Hong Kong Electric Holdings Ltd		1,094
	218,728	e	Hong Kong Exchanges and Clearing Ltd		6,553
	293,565		Hongkong Land Holdings Ltd		1,098
	80,000		Hysan Development Co Ltd		258
	6,600		Jardine Matheson Holdings Ltd		332
	6,600		Jardine Strategic Holdings Ltd		148
	122,026		Kerry Properties Ltd		319
	236,500		Kingboard Laminates Holdings Ltd		216
	177,826		Link REIT		1,499
	720,109		Melco Crown Entertainment Ltd (ADR)		8,929
	46,080		MTR Corp		237
	923,492		New World Development Co Ltd		985
	357,000		Nine Dragons Paper Holdings Ltd		323
	40,638	e	NWS Holdings Ltd		41
	132,262		PCCW Ltd		73
	1,408,500		Sino Biopharmaceutical		1,838
	93,043		Sino Land Co		117
	51,611	e	SJM Holdings Ltd		43
	310,000		SSY Group Ltd		240
	199,968		Sun Hung Kai Properties Ltd		2,614
	16,128	e	Swire Pacific Ltd (Class A)		103
	35,777		Swire Properties Ltd		100
	41,402	e	Techtronic Industries Co		263
	225,000		Towngas China Co Ltd		111
	22,000	e	Vitasoy International Holdings Ltd		66
	288,500	g	WH Group Ltd		266
	352,068	e	Wharf Holdings Ltd		619
	167,605	e	Wharf Real Estate Investment Co Ltd		684
	25,334		Wheelock & Co Ltd		172
	19,912		Yue Yuen Industrial Holdings		30
			TOTAL HONG KONG		72,057
HUNGARY - 0.0%
	92,366		MOL Hungarian Oil & Gas plc		542
	43,363		OTP Bank		1,244
	27,063		Richter Gedeon Rt		510
			TOTAL HUNGARY		2,296
INDIA - 0.5%
	116,385	*	Ambuja Cements Ltd		239
	235,098		Ashok Leyland Ltd		133
	58,733		Asian Paints Ltd		1,294
	57,083		Aurobindo Pharma Ltd		308
	24,934	*,g	Avenue Supermarts Ltd		721
	423,852		Axis Bank Ltd		2,119
	36,291		Bajaj Finance Ltd		1,061
	7,375		Bajaj Finserv Ltd		446
	17,041		Bajaj Holdings and Investment Ltd		454
	84,058	g	Bandhan Bank Ltd		226

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	46,698		Berger Paints India Ltd	$	306
	40,580		Bharat Forge Ltd		125
	135,587		Bharat Petroleum Corp Ltd		567
	498,070	*	Bharti Airtel Ltd		2,903
	76,205		Bharti Infratel Ltd		161
	1,407		Bosch Ltd		175
	11,607		Britannia Industries Ltd		411
	72,988		Cipla Ltd		406
	270,161		Coal India Ltd		496
	14,271		Colgate-Palmolive India Ltd		235
	45,745		Container Corp Of India Ltd		200
	106,150		Dabur India Ltd		631
	15,773		Divi S Laboratories Ltd		412
	119,780		DLF Ltd		217
	23,263		Dr Reddy’s Laboratories Ltd		947
	2,736		Eicher Motors Ltd		471
	354,669		GAIL India Ltd		356
	73,522		Godrej Consumer Products Ltd		503
	60,481		Grasim Industries Ltd		378
	50,001		Havells India Ltd		317
	221,308		HCL Technologies Ltd		1,277
	8,885	g	HDFC Asset Management Co Ltd		247
	102,357	*,g	HDFC Life Insurance Co Ltd		594
	20,271		Hero Honda Motors Ltd		427
	230,799		Hindalco Industries Ltd		291
	130,702		Hindustan Lever Ltd		3,964
	135,938		Hindustan Petroleum Corp Ltd		341
	330,336		Housing Development Finance Corp		7,130
	960,118		ICICI Bank Ltd		4,178
	36,714	g	ICICI Lombard General Insurance Co Ltd		525
	68,420	g	ICICI Prudential Life Insurance Co Ltd		320
	425,099		Indian Oil Corp Ltd		457
	12,169		Info Edge India Ltd		328
	687,107		Infosys Technologies Ltd		5,693
	19,034	g	InterGlobe Aviation Ltd		269
	710,458		ITC Ltd		1,602
	171,446		JSW Steel Ltd		330
	97,244		Larsen & Toubro Ltd		1,037
	64,968		LIC Housing Finance Ltd		201
	45,883		Lupin Ltd		357
	58,358		Mahindra & Mahindra Financial Services Ltd		113
	150,954		Mahindra & Mahindra Ltd		564
	93,989		Marico Ltd		340
	21,639		Maruti Suzuki India Ltd		1,221
	210,942		Motherson Sumi Systems Ltd		169
	122,107		Mundra Port and Special Economic Zone Ltd		406
	4,617		Nestle India Ltd		998
	505,820		NTPC Ltd		563
	1,154		Page Industries Ltd		258
	136,435		Petronet LNG Ltd		360
	23,965		Pidilite Industries Ltd		429
	22,228		Piramal Healthcare Ltd		274
	385,218		Power Grid Corp of India Ltd		809
	840,438		Reliance Industries Ltd		12,256

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	150,558		Rural Electrification Corp Ltd	$	176
	71,084	g	SBI Life Insurance Co Ltd		602
	435,435		Sesa Sterlite Ltd		369
	1,656		Shree Cement Ltd		381
	17,132		Shriram Transport Finance Co Ltd		150
	15,428		Siemens India Ltd		227
	367,237	*	State Bank of India		954
	171,540		Sun Pharmaceutical Industries Ltd		792
	181,917		Tata Consultancy Services Ltd		4,376
	364,365	*	Tata Motors Ltd		338
	262,419		Tata Power Co Ltd		114
	77,841		Tata Steel Ltd		276
	94,406		Tech Mahindra Ltd		703
	61,907		Titan Industries Ltd		763
	20,241		Ultra Tech Cement Ltd		866
	109,588		United Phosphorus Ltd		472
	59,827	*	United Spirits Ltd		383
	238,782		Wipro Ltd		621
	180,774		ZEE Telefilms Ltd		294
			TOTAL INDIA		78,403
INDONESIA - 0.2%
	3,449,400		Adaro Energy Tbk		206
	65,419,400		Bank Rakyat Indonesia		11,998
	490,600		Indofood CBP Sukses Makmur Tbk		306
	1,476,400		PT ACE Hardware Indonesia Tbk		117
	4,081,300		PT Astra International Tbk		970
	1,975,900		PT Bank Central Asia Tbk		3,329
	3,772,247		PT Bank Mandiri Persero Tbk		1,073
	1,488,700		PT Bank Negara Indonesia		347
	945,700		PT Bank Tabungan Negara Tbk		48
	5,629,300	*	PT Barito Pacific Tbk		247
	1,496,800	*	PT Bumi Serpong Damai		61
	1,450,800		PT Charoen Pokphand Indonesia Tbk		437
	807,100	*	PT Excelcomindo Pratama		98
	107,100		PT Gudang Garam Tbk		269
	2,098,800		PT Hanjaya Mandala Sampoerna Tbk		182
	582,500		PT Indah Kiat Pulp and Paper Corp Tbk		142
	388,100		PT Indocement Tunggal Prakarsa Tbk		296
	901,400		PT Indofood Sukses Makmur Tbk		349
	442,400		PT Jasa Marga Tbk		69
	4,490,500		PT Kalbe Farma Tbk		329
	294,000		PT Pabrik Kertas Tjiwi Kimia Tbk		72
	3,684,900		PT Pakuwon Jati Tbk		69
	2,537,300		PT Perusahaan Gas Negara Persero Tbk		120
	630,800		PT Semen Gresik Persero Tbk		293
	840,800		PT Tambang Batubara Bukit Asam Tbk		111
	10,013,100		PT Telekomunikasi Indonesia Persero Tbk		1,945
	1,570,000		PT Unilever Indonesia Tbk		694
	360,200		PT United Tractors Tbk		371
			TOTAL INDONESIA		24,548
IRELAND - 0.4%
	3,258	*	AerCap Holdings NV		74

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	17,242		AIB Group plc	$	19
	1,250,631		Bank of Ireland Group plc		2,331
	570,749		CRH plc		15,435
	6,328,103		Hibernia REIT plc		7,300
	147,992	*,†	Irish Bank Resolution Corp Ltd		0	^
	82,885		Kerry Group plc (Class A)		9,617
	702,276	e	Keywords Studios plc		12,432
	4,583		Kingspan Group plc		247
	2,410	e	Paddy Power plc		217
	788,187		Smurfit Kappa Group plc		22,328
			TOTAL IRELAND		70,000
ISRAEL - 0.0%
	1,209		Azrieli Group		69
	159,466		Bank Hapoalim Ltd		956
	202,062		Bank Leumi Le-Israel		1,114
	3,615	*	Check Point Software Technologies		363
	711		Elbit Systems Ltd		92
	6,219		Isracard Ltd		17
	21,098		Israel Chemicals Ltd		67
	36,799		Israel Discount Bank Ltd		107
	25,091		Mizrahi Tefahot Bank Ltd		462
	1,843	*	Nice Systems Ltd		267
	32,456	*	Teva Pharmaceutical Industries Ltd (ADR)		291
	1,423	*	Wix.com Ltd		144
			TOTAL ISRAEL		3,949
ITALY - 1.3%
	633,900		Amplifon S.p.A.		12,877
	32,454		Assicurazioni Generali S.p.A.		440
	14,497		Autostrade S.p.A.		180
	2,636,847		Davide Campari-Milano S.p.A		18,910
	6,939,416		Enel S.p.A.		47,867
	75,371		ENI S.p.A.		749
	188,636		Ferrari NV		29,056
	18,080		FinecoBank Banca Fineco S.p.A		163
	12,144		Finmeccanica S.p.A.		80
	2,015,431		Intesa Sanpaolo S.p.A.		3,261
	440,287		Mediobanca S.p.A.		2,401
	616,689		Moncler S.p.A		22,410
	11,877	g	Pirelli & C S.p.A		42
	16,644	g	Poste Italiane S.p.A		140
	2,775,735		Prada S.p.A		8,038
	7,070		Prysmian S.p.A.		112
	2,962		Recordati S.p.A.		125
	60,283		Snam Rete Gas S.p.A.		275
	180,377		Telecom Italia RSP		70
	271,493	*,e	Telecom Italia S.p.A.		110
	41,687		Terna Rete Elettrica Nazionale S.p.A.		262
	7,535,204		UniCredit S.p.A.		58,297
			TOTAL ITALY		205,865
JAPAN - 7.3%
	1,010		ABC-Mart, Inc		51

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	11,900		Acom Co Ltd	$	48
	158		Activia Properties Inc		513
	105,700		Advantest Corp		4,210
	18,946		Aeon Co Ltd		420
	2,452		AEON Financial Service Co Ltd		26
	2,397		Aeon Mall Co Ltd		30
	21,972		Air Water, Inc		301
	191,290		Aisin Seiki Co Ltd		4,685
	12,768		Ajinomoto Co, Inc		238
	5,505		Alfresa Holdings Corp		102
	9,050	e	All Nippon Airways Co Ltd		220
	5,932		Alps Electric Co Ltd		57
	9,244		Amada Co Ltd		72
	45,800	*	Amazia, Inc		1,654
	3,384		Aozora Bank Ltd		65
	10,551		Asahi Breweries Ltd		342
	5,201		Asahi Glass Co Ltd		127
	5,700		Asahi Intecc Co Ltd		141
	182,125		Asahi Kasei Corp		1,276
	19,100		Ashikaga Holdings Co Ltd		39
	381,800		Astellas Pharma, Inc		5,883
	138,021		Bank of Kyoto Ltd		4,374
	440,000		Benefit One, Inc		5,704
	2,553		Benesse Holdings, Inc		65
	234		BLife Investment Corp		574
	16,530		Bridgestone Corp		506
	6,585		Brother Industries Ltd		100
	2,300		Calbee, Inc		62
	28,777	*	Canon, Inc		625
	5,733	*	Casio Computer Co Ltd		80
	43,381		Central Japan Railway Co		6,953
	1,000	e	Century Leasing System, Inc		31
	15,362		Chiba Bank Ltd		67
	108,706		Chubu Electric Power Co, Inc		1,534
	46,369		Chugai Pharmaceutical Co Ltd		5,365
	7,766		Chugoku Electric Power Co, Inc		108
	3,600		Coca-Cola West Japan Co Ltd		74
	31,200		Concordia Financial Group Ltd		91
	4,368		Credit Saison Co Ltd		51
	2,900		CyberAgent, Inc		112
	7,538		Dai Nippon Printing Co Ltd		160
	5,946		Daicel Chemical Industries Ltd		43
	3,000	e	Daifuku Co Ltd		188
	31,011		Dai-ichi Mutual Life Insurance Co		368
	1,049,394		Daiichi Sankyo Co Ltd		72,069
	80,377		Daikin Industries Ltd		9,703
	8,449		Daito Trust Construction Co Ltd		785
	16,256		Daiwa House Industry Co Ltd		402
	44,780	*	Daiwa Securities Group, Inc		173
	12,587		Denso Corp		402
	6,255	e	Dentsu, Inc		121
	800		Disco Corp		156
	12,832		Don Quijote Co Ltd		243
	158,797		East Japan Railway Co		12,016

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	331,928		Eisai Co Ltd	$	24,280
	3,993		Electric Power Development Co		80
	7,176		FamilyMart Co Ltd		129
	5,585	*	Fanuc Ltd		746
	3,283		Fast Retailing Co Ltd		1,340
	125,200	*,e	Freee KK		4,025
	3,864	*	Fuji Electric Holdings Co Ltd		87
	17,739		Fuji Heavy Industries Ltd		339
	10,286		Fujifilm Holdings Corp		507
	5,698		Fujitsu Ltd		513
	4,446		Fukuoka Financial Group, Inc		59
	166,900		GMO Payment Gateway, Inc		11,697
	6,700		Hakuhodo DY Holdings, Inc		68
	4,100		Hamamatsu Photonics KK		167
	6,593		Hankyu Hanshin Holdings, Inc		221
	632		Hikari Tsushin, Inc		106
	7,282		Hino Motors Ltd		39
	973		Hirose Electric Co Ltd		100
	1,475		Hisamitsu Pharmaceutical Co, Inc		68
	15,285	*	Hitachi Chemical Co Ltd		650
	3,033	*,e	Hitachi Construction Machinery Co Ltd		61
	1,800		Hitachi High-Technologies Corp		133
	2,260,058	*	Hitachi Ltd		64,923
	29,085		Hitachi Metals Ltd		305
	46,896		Honda Motor Co Ltd		1,049
	1,612		Hoshizaki Electric Co Ltd		121
	10,927	*	Hoya Corp		929
	91,828		Hulic Co Ltd		929
	200,000		Ibiden Co Ltd		4,365
	29,975		Idemitsu Kosan Co Ltd		684
	4,129		Iida Group Holdings Co Ltd		57
	7,615,100		Infomart Corp		50,113
	137,583		Inpex Holdings, Inc		772
	5,826		Invincible Investment Corp		1,314
	156,300		IR Japan Holdings Ltd		8,361
	8,081		Isetan Mitsukoshi Holdings Ltd		47
	139,822		Ishikawajima-Harima Heavy Industries Co Ltd		1,628
	15,200		Isuzu Motors Ltd		101
	38,869	e	Itochu Corp		804
	2,900		Itochu Techno-Science Corp		83
	5,895		J Front Retailing Co Ltd		49
	3,424	e	Japan Airlines Co Ltd		63
	1,303	e	Japan Airport Terminal Co Ltd		50
	534,100		Japan Elevator Service Holdings Co Ltd		12,215
	11,846	e	Japan Post Bank Co Ltd		109
	45,340		Japan Post Holdings Co Ltd		355
	543,300		Japan Post Insurance Co Ltd		6,712
	20		Japan Prime Realty Investment Corp		60
	36		Japan Real Estate Investment Corp		212
	1,256		Japan Retail Fund Investment Corp		1,428
	152,363		Japan Tobacco, Inc		2,818
	71,823	*	JFE Holdings, Inc		465
	262,678	e	JGC Corp		2,097
	28,058		JSR Corp		513

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,803		JTEKT Corp	$	32
	440,388		JX Holdings, Inc		1,501
	12,486		Kajima Corp		128
	4,034		Kakaku.com, Inc		74
	332,000	*,e	Kamakura Shinsho Ltd		3,263
	2,585		Kamigumi Co Ltd		44
	194,735		Kansai Electric Power Co, Inc		2,168
	29,014		Kansai Paint Co Ltd		550
	146,185		Kao Corp		11,909
	3,751		Kawasaki Heavy Industries Ltd		54
	50,797		KDDI Corp		1,500
	2,800		Keihan Electric Railway Co Ltd		124
	6,360		Keihin Electric Express Railway Co Ltd		107
	2,923	e	Keio Corp		173
	3,813		Keisei Electric Railway Co Ltd		110
	36		Kenedix Realty Investment Corp		191
	295,100		Kenedix, Inc		1,120
	5,276		Keyence Corp		1,696
	4,195	e	Kikkoman Corp		178
	4,949		Kintetsu Corp		229
	23,649		Kirin Brewery Co Ltd		467
	1,400		Kobayashi Pharmaceutical Co Ltd		130
	3,000	*	Koito Manufacturing Co Ltd		101
	26,650		Komatsu Ltd		431
	2,786		Konami Corp		85
	12,220		Konica Minolta Holdings, Inc		49
	1,028		Kose Corp		127
	29,998		Kubota Corp		382
	50,474		Kuraray Co Ltd		508
	2,977		Kurita Water Industries Ltd		68
	9,300		Kyocera Corp		549
	6,945		Kyowa Hakko Kogyo Co Ltd		155
	34,777		Kyushu Electric Power Co, Inc		279
	4,600	e	Kyushu Railway Co		132
	1,480		Lawson, Inc		81
	1,700	*,e	LINE Corp		82
	6,400		Lion Corp		136
	7,964		LIXIL Group Corp		98
	110,976		M3, Inc		3,273
	6,488		Makita Corp		198
	45,465		Marubeni Corp		226
	5,409		Marui Co Ltd		90
	8,196	e	Maruichi Steel Tube Ltd		196
	14,715		Mazda Motor Corp		78
	1,900		McDonald’s Holdings Co Japan Ltd		86
	5,459		Mediceo Paltac Holdings Co Ltd		102
	3,308		MEIJI Holdings Co Ltd		234
	1,700	*,e	Mercari, Inc		33
	11,300	*	Minebea Co Ltd		167
	8,300		MISUMI Group, Inc		180
	198,762		Mitsubishi Chemical Holdings Corp		1,180
	38,922		Mitsubishi Corp		823
	52,614		Mitsubishi Electric Corp		643
	75,596		Mitsubishi Estate Co Ltd		1,116

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	24,780		Mitsubishi Gas Chemical Co, Inc	$	267
	9,311		Mitsubishi Heavy Industries Ltd		235
	16,211		Mitsubishi Materials Corp		331
	16,608		Mitsubishi Motors Corp		47
	354,162		Mitsubishi UFJ Financial Group, Inc		1,325
	10,900		Mitsubishi UFJ Lease & Finance Co Ltd		53
	312,182		Mitsui & Co Ltd		4,334
	26,928		Mitsui Chemicals, Inc		507
	127,206		Mitsui Fudosan Co Ltd		2,203
	654		Mitsui Fudosan Logistics Park, Inc		2,767
	2,949		Mitsui OSK Lines Ltd		47
	13,642		Mitsui Sumitomo Insurance Group Holdings, Inc		381
	695,556		Mizuho Financial Group, Inc		798
	757,025		MonotaRO Co Ltd		20,002
	153		Mori Hills REIT Investment Corp		205
	16,505		Murata Manufacturing Co Ltd		821
	3,039		Nabtesco Corp		70
	5,300	e	Nagoya Railroad Co Ltd		149
	5,806		Namco Bandai Holdings, Inc		282
	7,161		NEC Corp		261
	14,200	*	Nexon Co Ltd		232
	7,724		NGK Insulators Ltd		101
	3,948		NGK Spark Plug Co Ltd		55
	13,934		Nidec Corp		718
	8,981		Nikon Corp		82
	387,359		Nintendo Co Ltd		150,548
	38		Nippon Building Fund, Inc		256
	2,444		Nippon Express Co Ltd		119
	2,372		Nippon Meat Packers, Inc		83
	22,526		Nippon Paint Co Ltd		1,173
	1,846		Nippon ProLogis REIT, Inc		4,645
	1,300		Nippon Shinyaku Co Ltd		102
	110,601		Nippon Steel Corp		943
	610,084		Nippon Telegraph & Telephone Corp		14,591
	4,076		Nippon Yusen Kabushiki Kaisha		48
	17,439		Nissan Chemical Industries Ltd		632
	67,727	*	Nissan Motor Co Ltd		227
	5,831		Nisshin Seifun Group, Inc		97
	51,845		Nissin Food Products Co Ltd		4,302
	2,313		Nitori Co Ltd		313
	23,237		Nitto Denko Corp		1,032
	9,638		NKSJ Holdings, Inc		297
	95,780	*	Nomura Holdings, Inc		404
	4,274		Nomura Real Estate Holdings, Inc		69
	533		Nomura Real Estate Master Fund, Inc		678
	9,800		Nomura Research Institute Ltd		207
	370,347		NSK Ltd		2,357
	18,200		NTT Data Corp		174
	38,286		NTT DoCoMo, Inc		1,197
	18,896		Obayashi Corp		160
	1,900		Obic Co Ltd		248
	8,546		Odakyu Electric Railway Co Ltd		188
	121,094		OJI Paper Co Ltd		644
	33,468		Olympus Corp		482

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	80,155		Omron Corp	$	4,144
	10,768		Ono Pharmaceutical Co Ltd		247
	1,103	*	Oracle Corp Japan		96
	24,531	e	Oriental Land Co Ltd		3,132
	810,228		ORIX Corp		9,667
	360		Orix JREIT, Inc		473
	10,920		Osaka Gas Co Ltd		205
	14,722		Osaka Securities Exchange Co Ltd		258
	3,222		Otsuka Corp		137
	11,200		Otsuka Holdings KK		437
	311,100		Paltac Corp		15,408
	320,255		Panasonic Corp		2,424
	3,200		Park24 Co Ltd		47
	2,800	*	PeptiDream, Inc		97
	3,100		Pigeon Corp		119
	2,610		Pola Orbis Holdings, Inc		48
	24,800	*	Rakuten, Inc		187
	2,113,553		Recruit Holdings Co Ltd		54,596
	1,822,200	*	Renesas Electronics Corp		6,482
	61,442		Resona Holdings, Inc		184
	20,882		Ricoh Co Ltd		152
	912		Rinnai Corp		64
	66,935		Rohm Co Ltd		3,633
	6,740		Ryohin Keikaku Co Ltd		75
	1,480		Sankyo Co Ltd		43
	35,453		Santen Pharmaceutical Co Ltd		608
	6,391	*	SBI Holdings, Inc		93
	6,067		Secom Co Ltd		502
	4,852		Sega Sammy Holdings, Inc		59
	5,300		Seibu Holdings, Inc		58
	8,100	e	Seiko Epson Corp		87
	10,595		Sekisui Chemical Co Ltd		140
	91,920		Sekisui House Ltd		1,516
	327,500		Seria Co Ltd		9,472
	79,586		Seven & I Holdings Co Ltd		2,628
	12,700		Seven Bank Ltd		33
	4,300		SG Holdings Co Ltd		102
	5,699	*	Sharp Corp		59
	236,199	*,e	SHIFT, Inc		15,289
	6,447		Shimadzu Corp		168
	427		Shimamura Co Ltd		26
	2,192		Shimano, Inc		313
	16,762		Shimizu Corp		130
	84,200		Shin-Etsu Chemical Co Ltd		8,276
	5,677	*,e	Shinsei Bank Ltd		75
	7,690		Shionogi & Co Ltd		379
	23,993		Shiseido Co Ltd		1,410
	12,201		Shizuoka Bank Ltd		74
	3,600		Showa Denko KK		74
	1,663	*	SMC Corp		697
	525,000		SMS Co Ltd		10,125
	48,100	e	Softbank Corp		613
	45,032		Softbank Group Corp		1,594
	2,100		Sohgo Security Services Co Ltd		102

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,693,340		Sony Corp	$	159,536
	212,828		Sony Financial Holdings, Inc		3,574
	2,800		Square Enix Co Ltd		125
	3,914		Stanley Electric Co Ltd		77
	880	e	Star Asia Investment Corp		697
	2,500		Start Today Co Ltd		34
	1,641,535		Sumco Corp		20,859
	227,983		Sumitomo Chemical Co Ltd		674
	34,365		Sumitomo Corp		392
	4,563		Sumitomo Dainippon Pharma Co Ltd		59
	22,047		Sumitomo Electric Industries Ltd		230
	257,025		Sumitomo Heavy Industries Ltd		4,599
	34,915		Sumitomo Metal Mining Co Ltd		714
	2,392,891		Sumitomo Mitsui Financial Group, Inc		58,131
	9,318		Sumitomo Mitsui Trust Holdings, Inc		268
	55,416		Sumitomo Realty & Development Co Ltd		1,353
	4,163		Sumitomo Rubber Industries, Inc		39
	1,800		Sundrug Co Ltd		58
	4,000		Suntory Beverage & Food Ltd		151
	2,107		Suzuken Co Ltd		77
	10,634		Suzuki Motor Corp		253
	4,871		Sysmex Corp		353
	558,095		T&D Holdings, Inc		4,524
	3,300		Taiheiyo Cement Corp		56
	5,893		Taisei Corp		180
	1,056		Taisho Pharmaceutical Holdings Co Ltd		65
	17,067		Taiyo Nippon Sanso Corp		253
	108,611		Takeda Pharmaceutical Co Ltd		3,307
	3,756		TDK Corp		289
	189,400		TechnoPro Holdings, Inc		8,839
	26,886		Teijin Ltd		455
	4,902		Temp Holdings Co Ltd		49
	18,592		Terumo Corp		637
	3,294		THK Co Ltd		66
	5,634		Tobu Railway Co Ltd		197
	3,475		Toho Co Ltd		106
	1,900		Toho Gas Co Ltd		86
	11,713		Tohoku Electric Power Co, Inc		113
	247,764		Tokio Marine Holdings, Inc		11,336
	223,725	*	Tokyo Electric Power Co, Inc		778
	4,516		Tokyo Electron Ltd		842
	105,132		Tokyo Gas Co Ltd		2,477
	43,100		Tokyo Tatemono Co Ltd		456
	14,529		Tokyu Corp		228
	15,800		Tokyu Fudosan Holdings Corp		76
	8,167		Toppan Printing Co Ltd		125
	206,045		Toray Industries, Inc		892
	11,155		Toshiba Corp		244
	41,120		Tosoh Corp		465
	4,042		Toto Ltd		133
	22,539		Toyo Seikan Kaisha Ltd		257
	2,599		Toyo Suisan Kaisha Ltd		126
	1,197		Toyoda Gosei Co Ltd		20
	4,293		Toyota Industries Corp		205

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,687,253	*	Toyota Motor Corp	$	101,682
	6,494		Toyota Tsusho Corp		152
	3,628	*	Trend Micro, Inc		179
	1,100		Tsuruha Holdings, Inc		145
	11,607		Uni-Charm Corp		434
	344		United Urban Investment Corp		344
	6,530		USS Co Ltd		90
	1,400		Welcia Holdings Co Ltd		98
	67,307		West Japan Railway Co		4,603
	155,000	e	Workman Co Ltd		8,472
	76,438		Yahoo! Japan Corp		244
	3,404		Yakult Honsha Co Ltd		201
	18,231	*	Yamada Denki Co Ltd		73
	4,208		Yamaha Corp		163
	7,391		Yamaha Motor Co Ltd		89
	8,755	e	Yamato Transport Co Ltd		137
	3,253		Yamazaki Baking Co Ltd		68
	6,924		Yaskawa Electric Corp		188
	6,710		Yokogawa Electric Corp		80
	2,800		Yokohama Rubber Co Ltd		35
			TOTAL JAPAN		1,177,745
KAZAKHSTAN - 0.0%
	1,615,612		KAZ Minerals plc		7,006
			TOTAL KAZAKHSTAN		7,006
KOREA, REPUBLIC OF - 1.5%
	6,511		Amorepacific Corp		893
	1,908		Amorepacific Corp (Preference)		92
	1,528		BGF retail Co Ltd		166
	54,789		BS Financial Group, Inc		199
	10,870	*	Celltrion Healthcare Co Ltd		793
	19,110	*	Celltrion, Inc		3,554
	13,310		Cheil Communications, Inc		172
	17,060		Cheil Industries, Inc		1,245
	1,667		CJ CheilJedang Corp		294
	2,858		CJ Corp		150
	2,348		CJ O Shopping Co Ltd		199
	5,324		Daelim Industrial Co		319
	28,545	*	Daewoo Engineering & Construction Co Ltd		68
	13,580		Daewoo International Corp		126
	73,180		Daewoo Securities Co Ltd		313
	7,022	*	Daewoo Shipbuilding & Marine Engineering Co Ltd		77
	9,988		Dongbu Insurance Co Ltd		283
	9,695		Doosan Bobcat, Inc		142
	4,365		E-Mart Co Ltd		379
	9,721		Fila Korea Ltd		230
	3,725		GLOVIS Co Ltd		276
	11,707		GS Engineering & Construction Corp		195
	10,667		GS Holdings Corp		322
	5,056		GS Retail Co Ltd		128
	60,575		Hana Financial Group, Inc		1,140
	14,431		Hankook Tire Co Ltd		228
	1,273		Hanmi Pharm Co Ltd		271

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	35,652		Hanon Systems	$	259
	20,715		Hanwha Chemical Corp		225
	7,203		Hanwha Corp		89
	8,393		HDC Hyundai Development Co-Engineering & Construction		107
	6,792	*,e	HLB, Inc		494
	3,517		Honam Petrochemical Corp		552
	6,313		Hotel Shilla Co Ltd		361
	109,896		Hynix Semiconductor, Inc		7,429
	2,801		Hyundai Department Store Co Ltd		135
	15,560		Hyundai Engineering & Construction Co Ltd		347
	7,916	*	Hyundai Heavy Industries		503
	12,653		Hyundai Marine & Fire Insurance Co Ltd		234
	13,373		Hyundai Mobis		1,850
	30,073		Hyundai Motor Co		2,166
	7,193		Hyundai Motor Co Ltd (2nd Preference)		333
	4,568		Hyundai Motor Co Ltd (Preference)		192
	2,055		Hyundai Robotics Co Ltd		331
	16,084		Hyundai Steel Co		235
	53,710		Industrial Bank of Korea		328
	10,325		Kakao Corp		1,306
	23,405		Kangwon Land, Inc		377
	80,063		KB Financial Group, Inc		2,252
	1,144		KCC Corp		120
	590	*	KCC Glass Corp		9
	53,408		Kia Motors Corp		1,124
	5,159	*,e	KMW Co Ltd		209
	14,582		Korea Aerospace Industries Ltd		248
	52,882	*	Korea Electric Power Corp		826
	1,757	*	Korea Express Co Ltd		195
	7,564		Korea Gas Corp		132
	7,830		Korea Investment Holdings Co Ltd		316
	3,725		Korea Kumho Petrochemical		197
	72,962		Korea Life Insurance Co Ltd		82
	1,663		Korea Zinc Co Ltd		484
	9,503	*	Korean Air Lines Co Ltd		144
	23,780		KT&G Corp		1,456
	132,161		LG Chem Ltd		32,734
	1,516		LG Chem Ltd (Preference)		182
	18,984		LG Corp		920
	21,512		LG Electronics, Inc		846
	1,907		LG Household & Health Care Ltd		1,747
	447		LG Household & Health Care Ltd (Preference)		233
	2,759		LG Innotek Co Ltd		254
	42,907		LG Telecom Ltd		377
	48,837	*	LG.Philips LCD Co Ltd		439
	4,997		Lotte Corp		98
	2,823		Lotte Shopping Co Ltd		173
	920		Medy-Tox, Inc		146
	55,116		Meritz Securities Co Ltd		127
	28,109		Naver Corp		3,908
	3,287		NCsoft		1,754
	5,427	*,g	Netmarble Corp		413
	5,287	*	OCI Co Ltd		150

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,747		Orion Corp/Republic of Korea	$	448
	233		Ottogi Corp		91
	5,818		Pacific Corp		263
	1,262	*	Pearl Abyss Corp		184
	15,886	*	POSCO		2,090
	4,764		POSCO Refractories & Environment Co Ltd		169
	3,393		S1 Corp (Korea)		224
	3,306	*,g	Samsung Biologics Co Ltd		1,296
	5,040		Samsung Card Co		124
	11,194		Samsung Electro-Mechanics Co Ltd		887
	3,500,048	*	Samsung Electronics Co Ltd		136,087
	165,865		Samsung Electronics Co Ltd (Preference)		5,405
	31,149	*	Samsung Engineering Co Ltd		257
	6,225		Samsung Fire & Marine Insurance Co Ltd		787
	91,728	*	Samsung Heavy Industries Co Ltd		291
	14,240		Samsung Life Insurance Co Ltd		498
	11,018		Samsung SDI Co Ltd		2,145
	6,963		Samsung SDS Co Ltd		851
	11,895		Samsung Securities Co Ltd		285
	92,539		Shinhan Financial Group Co Ltd		2,165
	1,470		Shinsegae Co Ltd		261
	7,181		SK C&C Co Ltd		982
	11,695		SK Energy Co Ltd		827
	4,148		SK Telecom Co Ltd		603
	10,122		S-Oil Corp		470
	49,431	*	STX Pan Ocean Co Ltd		119
	3,950	*	ViroMed Co Ltd		220
	10,347		Woongjin Coway Co Ltd		489
	109,263		Woori Financial Group, Inc		680
	25,761		Woori Investment & Securities Co Ltd		189
	1,810		Yuhan Corp		339
			TOTAL KOREA, REPUBLIC OF		242,128
LUXEMBOURG - 0.0%
	19,136		ArcelorMittal		181
	343	e	Eurofins Scientific		167
	2,872		Millicom International Cellular S.A.		80
	29,550		Reinet Investments S.C.A		470
	10,670		SES Global S.A.		63
	14,361		Tenaris S.A.		87
			TOTAL LUXEMBOURG		1,048
MACAU - 0.1%
	63,803		Galaxy Entertainment Group Ltd		336
	159		MGM China Holdings Ltd		0	^
	73,133		Sands China Ltd		266
	4,995,483		Wynn Macau Ltd		7,492
			TOTAL MACAU		8,094
MALAYSIA - 0.1%
	316,500	*	AirAsia BHD		58
	315,600		AMMB Holdings BHD		219
	999,916		Bumiputra-Commerce Holdings BHD		832
	29,700		Carlsberg Brewery-Malay BHD		171

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	780,700		Dialog Group BHD	$	549
	598,500		Digi.Com BHD		603
	28,700		Fraser & Neave Holdings BHD		207
	364,431		Gamuda BHD		239
	458,700		Genting BHD		397
	40,900		Genting Plantations BHD		90
	96,600		HAP Seng Consolidated BHD		171
	301,500		Hartalega Holdings BHD		479
	129,100		Hong Leong Bank BHD		399
	32,500		Hong Leong Credit BHD		102
	432,200		IHH Healthcare BHD		513
	577,600		IJM Corp BHD		211
	402,900		IOI Corp BHD		371
	87,730		Kuala Lumpur Kepong BHD		425
	808,107		Malayan Banking BHD		1,394
	211,600		Malaysia Airports Holdings BHD		211
	441,100		Maxis BHD		547
	282,800		MISC BHD		485
	14,200		Nestle Malaysia BHD		449
	513,600		Petronas Chemicals Group BHD		599
	67,300		Petronas Dagangan BHD		332
	176,500		Petronas Gas BHD		627
	110,780		PPB Group BHD		420
	267,200		Press Metal BHD		204
	629,100		Public Bank BHD		2,314
	120,400		QL Resources BHD		206
	665,300		Resorts World BHD		309
	316,900		RHB Capital BHD		345
	606,300		Sime Darby BHD		239
	416,700		Sime Darby Plantation BHD		477
	1,153		SP Setia BHD		0	^
	220,200		Telekom Malaysia BHD		192
	637,200		Tenaga Nasional BHD		1,773
	550,843		TM International BHD		418
	304,300		Top Glove Corp BHD		453
	164,300		Westports Holdings BHD		129
	658,500		YTL Corp BHD		110
			TOTAL MALAYSIA		18,269
MEXICO - 0.1%
	645,300		Alfa S.A. de C.V. (Class A)		174
	119,900	*	Alsea SAB de C.V.		77
	6,752,800		America Movil S.A. de C.V. (Series L)		3,999
	3,041,694	e	Cemex S.A. de C.V.		632
	109,300		Coca-Cola Femsa SAB de C.V.		441
	35,700	e	El Puerto de Liverpool SAB de C.V.		78
	90,000		Embotelladoras Arca SAB de C.V.		363
	625,900		Fibra Uno Administracion S.A. de C.V.		490
	396,800		Fomento Economico Mexicano S.A. de C.V.		2,396
	44,550		Gruma SAB de C.V.		341
	71,500		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		384
	42,235		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		398
	330,200		Grupo Bimbo S.A. de C.V. (Series A)		480
	96,600		Grupo Carso S.A. de C.V. (Series A1)		190

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	524,000		Grupo Financiero Banorte S.A. de C.V.	$	1,436
	729,827		Grupo Financiero Inbursa S.A.		524
	713,500		Grupo Mexico S.A. de C.V. (Series B)		1,315
	486,200	e	Grupo Televisa S.A.		559
	31,600		Industrias Penoles S.A. de C.V.		210
	115,200		Infraestructura Energetica ,NV SAB de C.V.		353
	305,500		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		463
	66,300		Megacable Holdings SAB de C.V.		181
	212,200		Orbia Advance Corp SAB de C.V.		233
	44,990	*,e	Promotora y Operadora de Infraestructura SAB de C.V.		302
	1,058,500		Wal-Mart de Mexico SAB de C.V.		2,488
			TOTAL MEXICO		18,507
NETHERLANDS - 1.7%
	239,174	g	ABN AMRO Group NV (ADR)		1,941
	27,285	*,g	Adyen NV		23,189
	51,298		Aegon NV		128
	6,000		Akzo Nobel NV		395
	19,067	*	Altice NV (Class A)		74
	352,950		ASML Holding NV		93,043
	5,376		DSM NV		605
	5,314		Eurocommercial Properties NV		51
	161,119	g	Euronext NV		11,864
	3,184		EXOR NV		164
	3,413	e	Heineken Holding NV		266
	41,866		Heineken NV		3,553
	12,999,639		ING Groep NV		66,611
	148,337	*,g	Just Eat Takeaway		11,165
	178,477		Koninklijke Ahold Delhaize NV		4,158
	1,013,982		Koninklijke KPN NV		2,425
	68,231		Koninklijke Philips Electronics NV		2,801
	2,020		Koninklijke Vopak NV		106
	9,205		NN Group NV		250
	330,899		NXP Semiconductors NV		27,441
	14,439	*	Prosus NV		1,006
	3,820		Randstad Holdings NV		135
	1,106,862		Royal Dutch Shell plc (A Shares)		19,230
	110,680		Royal Dutch Shell plc (B Shares)		1,857
	3,415	*,g	Takeaway.com Holding BV		258
	4,556	e	Wereldhave NV		34
	8,091		Wolters Kluwer NV		573
			TOTAL NETHERLANDS		273,323
NEW ZEALAND - 0.0%
	22,229	*	a2 Milk Co Ltd		227
	27,809		Auckland International Airport Ltd		83
	167,364		Fisher & Paykel Healthcare Corp		3,042
	23,742		Fletcher Building Ltd		49
	124,600		Kiwi Property Group Ltd		70
	40,843		Meridian Energy Ltd		97
	17,383		Mighty River Power Ltd		44
	12,438		Ryman Healthcare Ltd		75
	55,331		Telecom Corp of New Zealand Ltd		135
			TOTAL NEW ZEALAND		3,822

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
NORWAY - 0.2%
	982,444		Aker BP ASA	$	12,323
	411,618		DNB NOR Holding ASA		4,586
	1,162,959		Equinor ASA		14,498
	150,919	*,e	Gjensidige Forsikring BA		2,570
	13,077		Mowi ASA		198
	40,546		Norsk Hydro ASA		87
	22,350		Orkla ASA		191
	2,824		Schibsted ASA (B Shares)		51
	21,457		Telenor ASA		314
	100,667		Yara International ASA		3,183
			TOTAL NORWAY		38,001
PAKISTAN - 0.0%
	70,800		Habib Bank Ltd		44
	52,200		MCB Bank Ltd		47
	262,900		Oil & Gas Development Co Ltd		121
			TOTAL PAKISTAN		212
PERU - 0.0%
	46,300		Cia de Minas Buenaventura S.A. (ADR) (Series B)		338
	13,800		Credicorp Ltd (NY)		1,974
	17,391		Southern Copper Corp (NY)		490
			TOTAL PERU		2,802
PHILIPPINES - 0.1%
	397,860		Aboitiz Equity Ventures, Inc		294
	345,500		Aboitiz Power Corp		177
	4,228	*,†	Altus San Nicolas Corp		0	^
	57,010		Ayala Corp		521
	1,491,170		Ayala Land, Inc		880
	393,830		Banco de Oro Universal Bank		796
	195,420		Bank of the Philippine Islands		238
	6,955		Globe Telecom, Inc		264
	20,004		GT Capital Holdings, Inc		160
	218,990		International Container Term Services, Inc		320
	570,940		JG Summit Holdings (Series B)		586
	98,790		Jollibee Foods Corp		206
	53,650		Manila Electric Co		236
	2,494,927		Megaworld Corp		122
	3,204,900		Metro Pacific Investments Corp		152
	388,263		Metropolitan Bank & Trust		304
	17,995		PLDT, Inc		398
	432,900		Robinsons Land Corp		126
	5,471,450		Robinsons Retail Holdings, Inc		6,135
	51,940		Security Bank Corp		109
	49,880		SM Investments Corp		798
	2,062,500		SM Prime Holdings		1,145
	180,950		Universal Robina		370
			TOTAL PHILIPPINES		14,337
POLAND - 0.0%
	95,818	*	Bank Millennium S.A.		74

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	34,997		Bank Pekao S.A.	$	469
	7,065		Bank Zachodni WBK S.A.		295
	2,530	*	BRE Bank S.A.		135
	7,018		CCC S.A.		50
	13,380		CD Projekt Red S.A.		921
	49,234		Cyfrowy Polsat S.A.		282
	9,588	*,g	Dino Polska S.A.		373
	20,686		Grupa Lotos S.A.		258
	28,205	*	KGHM Polska Miedz S.A.		403
	267		LPP S.A.		336
	391,127		Polish Oil & Gas Co		323
	180,204	*	Polska Grupa Energetyczna S.A.		165
	63,195		Polski Koncern Naftowy Orlen S.A.		846
	178,468		Powszechna Kasa Oszczednosci Bank Polski S.A.		969
	122,573		Powszechny Zaklad Ubezpieczen S.A.		921
	133,031	*	Telekomunikacja Polska S.A.		190
			TOTAL POLAND		7,010
PORTUGAL - 0.1%
	1,215,803		Energias de Portugal S.A.		4,892
	15,897		Galp Energia SGPS S.A.		182
	798,508		Jeronimo Martins SGPS S.A.		14,412
			TOTAL PORTUGAL		19,486
QATAR - 0.1%
	423,779	*	Barwa Real Estate Co		348
	382,709		Commercial Bank of Qatar QSC		407
	376,974		Industries Qatar QSC		686
	753,670		Masraf Al Rayan		756
	936,509		Mesaieed Petrochemical Holding Co		374
	166,968		Ooredoo QSC		267
	114,151		Qatar Electricity & Water Co		426
	107,144	*	Qatar Fuel QSC		478
	326,687		Qatar Insurance Co SAQ		186
	148,743		Qatar International Islamic Bank QSC		296
	234,002		Qatar Islamic Bank SAQ		917
	914,486		Qatar National Bank		4,179
			TOTAL QATAR		9,320
ROMANIA - 0.0%
	76,532		NEPI Rockcastle plc		321
			TOTAL ROMANIA		321
RUSSIA - 0.7%
	12,609	e	Evraz plc		36
	1,106,129		Gazprom (ADR)		5,044
	86,148		LUKOIL PJSC (ADR)		5,097
	75,224	*	Magnit PJSC (GDR)		674
	128,099		MMC Norilsk Nickel PJSC (ADR)		3,108
	110,200		Mobile TeleSystems (ADR)		838
	19,351		Novatek PJSC (GDR)		2,231
	31,363		Novolipetsk Steel PJSC (GDR)		499
	29,387		PhosAgro PJSC (GDR)		303
	43,793		Polymetal International plc (ADR)		750

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	11,470	*	Polyus PJSC (GDR)	$	782
	276,362	*	Rosneft Oil Co PJSC (GDR)		1,125
	3,629,578		Sberbank of Russia (ADR)		34,118
	51,924		Severstal (GDR)		574
	316,470		Surgutneftegaz (ADR) (London)		1,316
	53,047		Tatneft PJSC (ADR)		2,010
	399,156	*	VTB Bank PJSC (GDR) Tradegate		329
	25,734	*	X5 Retail Group NV (GDR)		695
	1,498,441	*,e	Yandex NV		51,022
			TOTAL RUSSIA		110,551
SAUDI ARABIA - 0.2%
	22,654		Advanced Petrochemical Co		267
	247,296		Al Rajhi Bank		3,541
	149,078	*	Alinma Bank		816
	50,676		Almarai Co JSC		631
	119,530		Arab National Bank		576
	69,790		Bank AlBilad		376
	83,131		Bank Al-Jazira		249
	107,896		Banque Saudi Fransi		741
	4,593		Bupa Arabia for Cooperative Insurance Co		111
	12,367	*	Co for Cooperative Insurance		198
	117,787	*	Dar Al Arkan Real Estate Development Co		257
	71,429	*	Emaar Economic City		129
	73,798	*	Etihad Etisalat Co		424
	11,099		Jarir Marketing Co		375
	239,738		National Commercial Bank		2,210
	64,121	*	National Industrialization Co		156
	50,635	*	Rabigh Refining & Petrochemical Co		144
	242,370		Riyad Bank		963
	80,898		Sahara International Petrochemical Co		263
	195,766		Samba Financial Group		1,043
	8,007		Saudi Airlines Catering Co		160
	33,795		Saudi Arabian Fertilizer Co		554
	84,310	*	Saudi Arabian Mining Co		688
	248,741	g	Saudi Arabian Oil Co		1,996
	154,671		Saudi Basic Industries Corp		2,863
	143,752		Saudi British Bank		768
	15,399		Saudi Cement Co		200
	170,036		Saudi Electricity Co		719
	49,032		Saudi Industrial Investment Group		205
	163,297	*	Saudi Kayan Petrochemical Co		312
	81,439		Saudi Telecom Co		1,888
	52,514	*	Savola Group		498
	48,578		Yanbu National Petrochemical Co		535
			TOTAL SAUDI ARABIA		24,856
SINGAPORE - 0.2%
	395,712		Ascendas REIT		783
	42,200	e,g	BOC Aviation Ltd		267
	338,146	e	CapitaCommercial Trust		363
	1,843,346		CapitaLand Ltd		3,694
	75,117		CapitaMall Trust		94
	67,100		City Developments Ltd		340

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	61,948	e	ComfortDelgro Corp Ltd	$	66
	351,130	e	DBS Group Holdings Ltd		4,582
	185,592		Genting Singapore Ltd		90
	3,666		Jardine Cycle & Carriage Ltd		50
	44,068	e	Keppel Corp Ltd		164
	65,400		Mapletree Commercial Trust		84
	639,612		Oversea-Chinese Banking Corp		3,875
	21,648	e	SembCorp Industries Ltd		24
	17,084	e	Singapore Airlines Ltd		69
	17,600		Singapore Airport Terminal Services Ltd		39
	388,143	e	Singapore Exchange Ltd		2,500
	44,725	e	Singapore Press Holdings Ltd		58
	46,507	e	Singapore Technologies Engineering Ltd		102
	1,200		Singapore Telecommunications Ltd		2
	1,169,391		Singapore Telecommunications Ltd		2,085
	328,400		Suntec Real Estate Investment Trust		287
	260,543		United Overseas Bank Ltd		3,575
	74,831		UOL Group Ltd		343
	8,500		Venture Corp Ltd		81
	57,062		Wilmar International Ltd		129
			TOTAL SINGAPORE		23,746
SOUTH AFRICA - 0.2%
	143,227		Absa Group Ltd		596
	11,237		Anglo American Platinum Ltd		469
	30,484		Anglo American plc (London)		534
	83,339		AngloGold Ashanti Ltd		1,412
	77,718	*	Aspen Pharmacare Holdings Ltd		407
	67,516	e	Bid Corp Ltd		796
	59,983		Bidvest Group Ltd		489
	9,166		Capitec Bank Holdings Ltd		451
	53,580		Clicks Group Ltd		772
	80,496	e	Discovery Holdings Ltd		351
	52,231		Exxaro Resources Ltd		286
	676,385	e	FirstRand Ltd		1,518
	257,797	e	Fortress REIT Ltd (Class A)		146
	47,441		Foschini Ltd		177
	166,111		Gold Fields Ltd		811
	661,755	e	Growthpoint Properties Ltd		476
	164,610	e	Impala Platinum Holdings Ltd		686
	53,876		Investec Ltd		102
	13,725	e	Kumba Iron Ore Ltd		214
	21,353	e	Liberty Holdings Ltd		79
	272,718		Life Healthcare Group Holdings Pte Ltd		281
	163,841		Momentum Metropolitan Holdings		143
	51,669		Mr Price Group Ltd		328
	343,218	e	MTN Group Ltd		920
	90,113	*	MultiChoice Group Ltd		428
	89,454		Naspers Ltd (N Shares)		12,713
	76,976		Nedbank Group Ltd		356
	72,212	*	Northam Platinum Ltd		276
	151,139	g	Pepkor Holdings Ltd		92
	77,983		Pick’n Pay Stores Ltd		264
	27,831		PSG Group Ltd		200

235

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	148,822	e	Rand Merchant Investment Holdings Ltd	$	185
	1,235,811		Redefine Properties Ltd		163
	107,873		Remgro Ltd		738
	3,800		Resilient REIT Ltd		7
	156,308		RMB Holdings Ltd		427
	378,062		Sanlam Ltd		1,077
	121,838	*	Sasol Ltd		252
	96,765		Shoprite Holdings Ltd		676
	462,972	*	Sibanye Stillwater Ltd		584
	40,350		Spar Group Ltd		410
	261,104		Standard Bank Group Ltd		1,494
	64,030		Telkom S.A. Ltd		73
	33,329		Tiger Brands Ltd		345
	130,658		Vodacom Group Pty Ltd		855
	212,587		Woolworths Holdings Ltd		328
			TOTAL SOUTH AFRICA		34,387
SPAIN - 0.5%
	6,983		ACS Actividades de Construccion y Servicios S.A.		139
	2,006	g	Aena S.A.		218
	233,018		Amadeus IT Holding S.A.		10,968
	15,732	*	AmRest Holdings SE		70
	197,910		Banco Bilbao Vizcaya Argentaria S.A.		613
	169,301		Banco de Sabadell S.A.		86
	68,033		Banco Santander S.A.		162
	424,933		Banco Santander S.A. (AQXE)		1,011
	28,887	e	Bankia S.A.		31
	19,943		Bankinter S.A.		72
	106,915		CaixaBank S.A.		198
	7,429	g	Cellnex Telecom SAU		337
	32,811		Corp Mapfre S.A.		56
	7,321		Enagas		144
	351,485		Endesa S.A.		7,438
	14,444		Ferrovial S.A.		343
	78,838		Grifols S.A.		2,638
	3,979,993		Iberdrola S.A.		38,928
	191,863		Industria De Diseno Textil S.A.		4,972
	22,781		Inmobiliaria Colonial S.A.		215
	10,630		Lar Espana Real Estate Socimi S.A.		47
	108,528	*,†,e	Let’s GOWEX S.A.		1
	37,968		Merlin Properties Socimi S.A.		286
	44,117	e	Naturgy Energy Group S.A.		774
	56,947		Red Electrica Corp S.A.		1,023
	42,144		Repsol YPF S.A.		376
	7,410		Siemens Gamesa Renewable Energy		109
	666,250		Telefonica S.A.		3,032
			TOTAL SPAIN		74,287
SWEDEN - 0.4%
	9,341		Alfa Laval AB		160
	659,782		Assa Abloy AB		12,317
	19,895		Atlas Copco AB (A Shares)		662
	11,556		Atlas Copco AB (B Shares)		336
	2,861	e	Autoliv, Inc		132

236

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	382,007		Boliden AB	$	6,853
	15,186	e	Castellum AB		256
	7,101		Electrolux AB (Series B)		88
	11,932		Epiroc AB		118
	19,568		Epiroc AB (Class A)		193
	91,093	*,e	Ericsson (LM) (B Shares)		737
	17,951		Essity AB		550
	36,450		Fabege AB		465
	33,412	*	Fastighets AB Balder		1,208
	23,850	e	Hennes & Mauritz AB (B Shares)		305
	253,192		Hexagon AB (B Shares)		10,706
	11,794		Husqvarna AB (B Shares)		59
	2,750	e	ICA Gruppen AB		115
	4,912		Industrivarden AB		94
	467,783	e	Intrum Justitia AB		6,196
	13,445		Investor AB (B Shares)		607
	7,670	*	Kinnevik AB		125
	30,375		Kungsleden AB		228
	2,324	e	Lundbergs AB (B Shares)		94
	142,439	e	Lundin Petroleum AB		2,689
	33,494		Sandvik AB		471
	17,787	*,e	SAS AB		16
	9,392		Securitas AB (B Shares)		101
	674,698	*	Skandinaviska Enskilda Banken AB (Class A)		4,518
	10,067	e	Skanska AB (B Shares)		152
	11,354	e	SKF AB (B Shares)		155
	46,123		Svenska Handelsbanken AB		380
	26,856	*	Swedbank AB (A Shares)		296
	314,540	e	Swedish Match AB		17,809
	14,840		Tele2 AB (B Shares)		198
	81,248	e	TeliaSonera AB		291
	44,028		Volvo AB (B Shares)		523
			TOTAL SWEDEN		70,203
SWITZERLAND - 3.5%
	383,256	e	ABB Ltd		6,661
	4,650		Adecco S.A.		183
	549,519	*	Alcon, Inc		28,152
	50,000	*,e	Alcon, Inc (XNYS)		2,541
	1,452		Baloise Holding AG.		189
	90		Barry Callebaut AG.		180
	75,575		Cie Financiere Richemont S.A.		4,040
	5,961		Clariant AG.		99
	6,338		Coca-Cola HBC AG.		136
	6,126,546		Credit Suisse Group		49,450
	988		Dufry Group		30
	227		EMS-Chemie Holding AG.		142
	1,098		Geberit AG.		481
	1,705		Givaudan S.A.		5,246
	316,767		Glencore Xstrata plc		479
	14,614		Holcim Ltd		533
	6,667		Julius Baer Group Ltd		223
	1,610		Kuehne & Nagel International AG.		219
	34		Lindt & Spruengli AG.		285

237

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3		Lindt & Spruengli AG. (Registered)	$	260
	317,406		Lonza Group AG.		130,557
	747,197		Nestle S.A.		76,489
	305,914		Novartis AG.		25,238
	1,168		Pargesa Holding S.A.		77
	554		Partners Group		379
	5,314		PSP Swiss Property AG.		665
	598,777		Roche Holding AG.		192,651
	1,209		Schindler Holding AG.		265
	589		Schindler Holding AG. (Registered)		123
	180		SGS S.A.		415
	3,782		Sika AG.		621
	1,624		Sonova Holdings AG		290
	20,235		STMicroelectronics NV		435
	307		Straumann Holding AG.		225
	727		Swatch Group AG.		143
	2,270		Swatch Group AG. (Registered)		88
	997		Swiss Life Holding		335
	7,897		Swiss Prime Site AG.		769
	8,744		Swiss Re Ltd		673
	767	e	Swisscom AG.		411
	1,945		Temenos Group AG.		254
	254,429		UBS Group AG		2,332
	11,348		Vifor Pharma AG.		1,553
	81,598		Zurich Insurance Group AG		28,666
			TOTAL SWITZERLAND		563,183
TAIWAN - 1.7%
	101,000		Accton Technology Corp		540
	605,000		Acer, Inc		312
	67,000		Advantech Co Ltd		552
	25,000		Airtac International Group		369
	697,000		ASE Industrial Holding Co Ltd		1,350
	443,000		Asia Cement Corp		575
	144,000		Asustek Computer, Inc		975
	1,848,000		AU Optronics Corp		385
	135,189		Catcher Technology Co Ltd		865
	1,582,412		Cathay Financial Holding Co Ltd		1,842
	238,834		Chailease Holding Co Ltd		719
	1,057,529		Chang Hwa Commercial Bank		668
	382,000		Cheng Shin Rubber Industry Co Ltd		388
	121,335		Chicony Electronics Co Ltd		303
	434,000		China Airlines		95
	2,430,000		China Development Financial Holding Corp		595
	502,250	*	China Life Insurance Co Ltd (Taiwan)		278
	2,368,000		China Steel Corp		1,483
	3,732,000		Chinatrust Financial Holding Co		2,198
	776,000		Chunghwa Telecom Co Ltd		2,751
	816,000		Compal Electronics, Inc		466
	872,727		Dadi Early-Childhood Education Group Ltd		4,657
	397,000		Delta Electronics, Inc		1,571
	2,096,936		E.Sun Financial Holding Co Ltd		1,674
	37,000		Eclat Textile Co Ltd		293
	420,078		Eva Airways Corp		123

238

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	424,731	*	Evergreen Marine Corp Tawain Ltd	$	129
	666,000		Far Eastern Textile Co Ltd		495
	336,000		Far EasTone Telecommunications Co Ltd		702
	70,200		Feng TAY Enterprise Co Ltd		301
	1,987,359		First Financial Holding Co Ltd		1,284
	737,000		Formosa Chemicals & Fibre Corp		1,623
	262,000		Formosa Petrochemical Corp		699
	909,000		Formosa Plastics Corp		2,248
	179,000		Formosa Taffeta Co Ltd		181
	183,000		Foxconn Technology Co Ltd		298
	1,359,000		Fubon Financial Holding Co Ltd		1,680
	2,024,000		Fuhwa Financial Holdings Co Ltd		1,033
	60,000		Giant Manufacturing Co Ltd		265
	675,000		Globalwafers Co Ltd		7,540
	161,000		Highwealth Construction Corp		215
	47,677		Hiwin Technologies Corp		314
	2,514,000		Hon Hai Precision Industry Co, Ltd		5,788
	1,815,278		Hota Industrial Manufacturing Co Ltd		4,538
	60,000		Hotai Motor Co Ltd		969
	1,547,636		Hua Nan Financial Holdings Co Ltd		921
	1,789,000		InnoLux Display Corp		308
	500,000		Inventec Co Ltd		383
	20,604		Largan Precision Co Ltd		2,602
	431,000		Lite-On Technology Corp		586
	305,242		MediaTek, Inc		3,276
	2,222,000		Mega Financial Holding Co Ltd		2,086
	139,000		Micro-Star International Co Ltd		406
	1,048,000		Nan Ya Plastics Corp		1,885
	263,000		Nanya Technology Corp		463
	32,000		Nien Made Enterprise Co Ltd		190
	117,000		Novatek Microelectronics Corp Ltd		660
	396,000		Pegatron Technology Corp		756
	32,000		Phison Electronics Corp		259
	448,000		Pou Chen Corp		379
	150,000		Powertech Technology, Inc		425
	117,000		President Chain Store Corp		1,094
	548,000		Quanta Computer, Inc		1,085
	98,000		Realtek Semiconductor Corp		703
	82,400		Ruentex Development Co Ltd		104
	63,600		Ruentex Industries Ltd		146
	674,999		Shanghai Commercial & Savings Bank Ltd		874
	2,169,559		Shin Kong Financial Holding Co Ltd		544
	2,120,300		SinoPac Financial Holdings Co Ltd		773
	85,000		Standard Foods Corp		171
	251,000		Synnex Technology International Corp		307
	1,863,730		Taishin Financial Holdings Co Ltd		717
	987,064		Taiwan Business Bank		314
	995,789		Taiwan Cement Corp		1,293
	1,775,442		Taiwan Cooperative Financial Holding		1,072
	394,000		Taiwan High Speed Rail Corp		372
	346,000		Taiwan Mobile Co Ltd		1,142
	19,587,500		Taiwan Semiconductor Manufacturing Co Ltd		176,333
	387,000	*	Tatung Co Ltd		250
	981,000		Uni-President Enterprises Corp		2,123

239

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,257,000		United Microelectronics Corp	$	1,012
	180,000		Vanguard International Semiconductor Corp		349
	64,000		Walsin Technology Corp		338
	68,000		Win Semiconductors Corp		584
	619,000		Winbond Electronics Corp		230
	578,690		Wistron Corp		468
	16,000	*	Wiwynn Corp		368
	275,640		WPG Holdings Co Ltd		323
	52,339		Yageo Corp		470
	108,000		Zhen Ding Technology Holding Ltd		330
			TOTAL TAIWAN		265,803
THAILAND - 0.1%
	237,900		Advanced Info Service PCL (Foreign)		1,442
	867,000		Airports of Thailand PCL (Foreign)		1,334
	157,100		B Grimm Power PCL		189
	95,600		Bangkok Bank PCL (Foreign)		296
	1,902,600		Bangkok Dusit Medical Services PCL (Foreign)		1,089
	1,456,200		Bangkok Expressway & Metro PCL		343
	1,107,400		Banpu PCL (Foreign)		176
	219,100		Berli Jucker PCL		267
	1,293,590		BTS Group Holdings PCL		359
	86,800		Bumrungrad Hospital PCL (Foreign)		301
	443,600	*	Central Pattana PCL (Foreign)		570
	359,975	*	Central Retail Corp PCL		307
	762,800		Charoen Pokphand Foods PCL		562
	1,176,900		CP Seven Eleven PCL (Foreign)		2,176
	60,400		Electricity Generating PCL		423
	331,500		Energy Absolute PCL (Foreign)		340
	148,500		Global Power Synergy Co Ltd (Foreign)		257
	104,000		Gulf Energy Development PCL		474
	1,149,300		Home Product Center PCL (Foreign)		385
	362,200		Indorama Ventures PCL (Foreign)		234
	463,800		Intouch Holdings PCL (Class F)		702
	3,025,500		IRPC PCL (Foreign)		195
	351,100		Kasikornbank PCL (Foreign)		959
	687,700		Krung Thai Bank PCL (Foreign)		237
	1,641,500		Land and Houses PCL Co Reg		331
	570,700		Minor International PCL (Foreign)		292
	118,900		Muangthai Capital PCL		126
	138,600	*	Osotspa PCL		151
	326,600		PTT Exploration & Production PCL (Foreign)		665
	503,300		PTT Global Chemical PCL (Foreign)		463
	2,412,200		PTT PCL (Foreign)		2,230
	148,300		Ratch Group PCL		257
	158,300		Siam Cement PCL (Foreign)		1,553
	180,600		Siam Commercial Bank PCL (Foreign)		380
	136,600		Srisawad Corp PCL		176
	260,200		Thai Oil PCL (Foreign)		241
	657,000		Thai Union Group PCL		273
	4,835,384		TMB Bank PCL (Foreign)		129
	146,900		Total Access Communication PCL (Foreign)		182
	2,454,300		True Corp PCL (Foreign)		234
			TOTAL THAILAND		21,300

240

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
TURKEY - 0.0%
	566,747	*	Akbank TAS	$	476
	37,623		Anadolu Efes Biracilik Ve Malt Sanayii AS		98
	36,799	*	Arcelik AS		75
	67,829		Aselsan Elektronik Sanayi Ve Ticaret AS		241
	87,870		BIM Birlesik Magazalar AS		666
	305,698		Eregli Demir ve Celik Fabrikalari TAS		346
	12,638		Ford Otomotiv Sanayi AS		94
	174,450		Haci Omer Sabanci Holding AS		197
	154,931		KOC Holding AS		313
	41,827		TAV Havalimanlari Holding AS		104
	28,930	*	Tupras Turkiye Petrol Rafine		329
	111,001	*	Turk Hava Yollari		152
	220,896		Turkcell Iletisim Hizmet AS		410
	470,554	*	Turkiye Garanti Bankasi AS		577
	331,601	*	Turkiye Is Bankasi (Series C)		237
			TOTAL TURKEY		4,315
UNITED ARAB EMIRATES - 0.1%
	562,229		Abu Dhabi Commercial Bank PJSC		702
	806,656		Aldar Properties PJSC		333
	33,408		DP World Ltd		502
	335,075		Dubai Islamic Bank PJSC		327
	563,196		Emaar Malls Group PJSC		163
	691,680		Emaar Properties PJSC		411
	355,965		Emirates Telecommunications Group Co PJSC		1,345
	553,468		National Bank of Abu Dhabi PJSC		1,427
	611,700	*,g	Network International Holdings plc		2,974
	5,358		NMC Health plc		7
			TOTAL UNITED ARAB EMIRATES		8,191
UNITED KINGDOM - 4.2%
	28,819		3i Group plc		279
	5,668		Admiral Group plc		156
	1,415,512		Ashtead Group plc		30,595
	361,540		Associated British Foods plc		8,098
	1,032,149		AstraZeneca plc		91,964
	29,361	g	Auto Trader Group plc		159
	1,917		Aveva Group plc		83
	116,440		Aviva plc		383
	94,979		BAE Systems plc		610
	512,722		Barclays plc		583
	29,730		Barratt Developments plc		161
	1,028,700		Beazley plc		4,962
	3,599		Berkeley Group Holdings plc		161
	66,793		Big Yellow Group plc		826
	5,390,100	*	boohoo.com plc		12,679
	1,686,445		BP plc		6,916
	182,086		BP plc (ADR)		4,441
	437,911		British American Tobacco plc		14,917
	1,092,027		British Land Co plc		4,554
	249,380		BT Group plc		363
	10,023		Bunzl plc		201

241

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,002		Burberry Group plc	$	195
	30,375		Capital & Counties Properties		62
	174,290		Centrica plc		82
	81,543		CK Hutchison Holdings Ltd		543
	30,149		CNH Industrial NV		172
	6,786		Coca-Cola European Partners plc (Class A)		255
	211,317		Compass Group plc		3,292
	3,825		Croda International plc		202
	2,926		DCC plc		183
	404,000		Dechra Pharmaceuticals plc		11,650
	20,548		Derwent London plc		830
	507,124		Diageo plc		16,081
	355,000	*	Dialog Semiconductor plc		9,227
	40,541		Direct Line Insurance Group plc		148
	4,127	e	easyJet plc		29
	2,414,972		Electrocomponents plc		15,375
	26,905		Experian Group Ltd		748
	541,285		Fevertree Drinks plc		8,072
	32,595		Fiat DaimlerChrysler Automobiles NV		233
	788,487		GlaxoSmithKline plc		14,795
	154,541		Great Portland Estates plc		1,302
	44,724		Group 4 Securicor plc		51
	16,294		GVC Holdings plc		113
	11,243	e	Halma plc		264
	9,866		Hargreaves Lansdown plc		168
	602,128		HSBC Holdings plc		3,380
	28,104		Imperial Tobacco Group plc		519
	37,264		Informa plc		203
	5,157		InterContinental Hotels Group plc		219
	4,792		Intertek Group plc		280
	114,398		ITV plc		94
	52,227		J Sainsbury plc		135
	13,378		JD Sports Fashion plc		75
	5,767		Johnson Matthey plc		127
	59,893		Kingfisher plc		105
	165,016		Land Securities Group plc		1,138
	176,809		Legal & General Group plc		418
	198,979	*	Liberty Global plc (Class A)		3,285
	14,466	*	Liberty Global plc (Class C)		227
	186,626		Linde plc		32,286
	670,671		Linde plc (Xetra)		116,320
	141,518,481		Lloyds TSB Group plc		55,327
	86,859		London Stock Exchange Group plc		7,770
	1,237,599	*,e	M&G plc		1,721
	3,745,647		Man Group plc		5,732
	51,433		Marks & Spencer Group plc		62
	21,100		Meggitt plc		76
	144,717		Melrose Industries plc		161
	9,279		Micro Focus International plc		46
	42,617		Mondi plc		719
	103,148		National Grid plc		1,205
	22,693		Next plc		1,138
	13,262	*	Ocado Ltd		199
	966,088	e	Old Mutual Ltd		641

242

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	23,208		Pearson plc	$	159
	9,458		Persimmon plc		224
	1,416,112		Prudential plc		17,744
	102,954		Reckitt Benckiser Group plc		7,843
	65,290		RELX plc		1,396
	617,216		RELX plc		13,173
	54,863		Rentokil Initial plc		262
	51,718		Rolls-Royce Group plc		219
	143,720		Royal Bank of Scotland Group plc		198
	32,963		RSA Insurance Group plc		172
	82,509		Safestore Holdings plc		652
	32,358		Sage Group plc		235
	3,690		Schroders plc		113
	30,679		Scottish & Southern Energy plc		493
	207,105		Segro plc		1,958
	6,992		Severn Trent plc		198
	22,781		Shaftesbury plc		174
	25,932		Smith & Nephew plc		457
	12,615		Smiths Group plc		190
	2,187		Spirax-Sarco Engineering plc		219
	15,891		St. James’s Place plc		148
	80,612		Standard Chartered plc		446
	69,980		Standard Life Aberdeen plc		193
	96,940		Taylor Wimpey plc		139
	12,175		TechnipFMC plc (Euro OTC)		82
	29,227,138		Tesco plc		82,538
	4,722,100		Tritax Big Box REIT plc		6,573
	351,026		Unilever NV		17,253
	270,989		Unilever plc		13,666
	20,245		United Utilities Group plc		227
	6,427,964		Vodafone Group plc		8,893
	6,829		Weir Group plc		61
	3,864		Whitbread plc		143
	71,889		WM Morrison Supermarkets plc		157
	676,260		WPP plc		4,598
			TOTAL UNITED KINGDOM		681,967
UNITED STATES - 54.5%
	42,841		3M Co		5,848
	4,631		A.O. Smith Corp		175
	1,679,426		Abbott Laboratories		132,523
	657,381		AbbVie, Inc		50,086
	1,560	*	Abiomed, Inc		226
	63,484		Accenture plc		10,364
	411,539	*	Activision Blizzard, Inc		24,478
	1,296		Acuity Brands, Inc		111
	115,895	*	Adobe, Inc		36,882
	2,422		Advance Auto Parts, Inc		226
	1,442,667	*	Advanced Micro Devices, Inc		65,613
	22,863		AES Corp		311
	25,232		Aflac, Inc		864
	10,603		Agilent Technologies, Inc		759
	18,744		AGNC Investment Corp		198
	15,716		Agree Realty Corp		973

243

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	44,830		Air Products & Chemicals, Inc	$	8,949
	5,549	*	Akamai Technologies, Inc		508
	18,425		Albemarle Corp		1,039
	30,133		Alexandria Real Estate Equities, Inc		4,130
	7,596	*	Alexion Pharmaceuticals, Inc		682
	2,570	*	Align Technology, Inc		447
	8,694		Alleghany Corp		4,802
	25,290		Allegion plc		2,327
	54,962		Allergan plc		9,734
	1,748		Alliance Data Systems Corp		59
	384,417		Alliant Energy Corp		18,564
	86,402		Allstate Corp		7,926
	12,911		Ally Financial, Inc		186
	36,539	*	Alnylam Pharmaceuticals, Inc		3,977
	87,625	*	Alphabet, Inc (Class A)		101,816
	180,586	*	Alphabet, Inc (Class C)		209,987
	20,435	*	Altice USA, Inc		456
	235,795		Altria Group, Inc		9,118
	212,718	*	Amazon.com, Inc		414,740
	55,406		Amcor plc		450
	265		Amerco, Inc		77
	8,437		Ameren Corp		614
	2,890		American Airlines Group, Inc		35
	209,313		American Electric Power Co, Inc		16,741
	1,032,528		American Express Co		88,395
	3,018		American Financial Group, Inc		212
	58,935		American Homes 4 Rent		1,367
	279,421		American International Group, Inc		6,776
	124,907		American Tower Corp		27,199
	6,204		American Water Works Co, Inc		742
	91,676		Americold Realty Trust		3,121
	4,340		Ameriprise Financial, Inc		445
	5,291		AmerisourceBergen Corp		468
	7,835		Ametek, Inc		564
	180,993		Amgen, Inc		36,693
	10,152		Amphenol Corp (Class A)		740
	39,579		Analog Devices, Inc		3,548
	49,431		Annaly Capital Management, Inc		251
	2,888	*	Ansys, Inc		671
	41,940		Anthem, Inc		9,522
	26,306		Aon plc		4,342
	11,200		Apache Corp		47
	1,729,748	n	Apple, Inc		439,858
	604,491		Applied Materials, Inc		27,698
	132,524		Aptiv plc		6,525
	8,602		ARAMARK Holdings Corp		172
	13,799	*	Arch Capital Group Ltd		393
	19,092		Archer-Daniels-Midland Co		672
	1,801	*	Arista Networks, Inc		365
	2,841	*	Arrow Electronics, Inc		147
	6,373		Arthur J. Gallagher & Co		519
	2,027		Assurant, Inc		211
	2,520,019		AT&T, Inc		73,458
	162,304	*	Athene Holding Ltd		4,028

244

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,075		Atmos Energy Corp	$	404
	23,452	*	Autodesk, Inc		3,661
	14,829		Automatic Data Processing, Inc		2,027
	818	*	AutoZone, Inc		692
	46,408		AvalonBay Communities, Inc		6,830
	437,829	*	Avantor, Inc		5,468
	2,926		Avery Dennison Corp		298
	903,694	*	Axalta Coating Systems Ltd		15,607
	50,186		Axis Capital Holdings Ltd		1,940
	22,412		Baker Hughes Co		235
	75,331		Ball Corp		4,871
	1,266,340		Bank of America Corp		26,884
	289,286		Bank of New York Mellon Corp		9,743
	9,811	*	Bausch Health Cos, Inc		152
	173,869		Baxter International, Inc		14,116
	41,279		Becton Dickinson & Co		9,485
	270,893	*	Berkshire Hathaway, Inc (Class B)		49,527
	605,548	*	Berry Global Group, Inc		20,413
	8,135		Best Buy Co, Inc		464
	37,790	*	Biogen, Inc		11,956
	117,165	*	BioMarin Pharmaceutical, Inc		9,900
	767	*	Bio-Rad Laboratories, Inc (Class A)		269
	4,996	*	Black Knight, Inc		290
	25,638		BlackRock, Inc		11,280
	77,430		Blackstone Group, Inc		3,529
	407,639	n	Boeing Co		60,795
	4,789	*	Booking Holdings, Inc		6,443
	4,945		Booz Allen Hamilton Holding Co		339
	7,494		BorgWarner, Inc		183
	43,594		Boston Properties, Inc		4,021
	2,004,941	*	Boston Scientific Corp		65,421
	562,579		Bristol-Myers Squibb Co		31,358
	393,022		Broadcom, Inc		93,185
	4,064		Broadridge Financial Solutions, Inc		385
	7,970		Brown & Brown, Inc		289
	10,586		Brown-Forman Corp (Class B)		588
	4,753		Bunge Ltd		195
	2,354	*	Burlington Stores, Inc		373
	13,984		Cabot Oil & Gas Corp		240
	9,627	*	Cadence Design Systems, Inc		636
	3,316		Camden Property Trust		263
	5,448		Campbell Soup Co		251
	15,998		Capital One Financial Corp		807
	179,527	*	Capri Holdings Ltd		1,937
	10,031		Cardinal Health, Inc		481
	5,670	*	CarMax, Inc		305
	13,449		Carnival Corp		177
	3,295		Carnival plc		39
	481,287		Caterpillar, Inc		55,849
	3,747		CBOE Global Markets, Inc		334
	69,182	*	CBRE Group, Inc		2,609
	4,283		CDK Global, Inc		141
	226,286		CDW Corp		21,106
	4,158		Celanese Corp (Series A)		305

245

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	276,715	*	Centene Corp	$	16,440
	77,606		Centerpoint Energy, Inc		1,199
	34,589		CenturyLink, Inc		327
	68,859		Cerner Corp		4,337
	183,063		CF Industries Holdings, Inc		4,979
	4,497		CH Robinson Worldwide, Inc		298
	445,337		Charles Schwab Corp		14,972
	23,980	*	Charter Communications, Inc		10,463
	32,877	*	Cheniere Energy, Inc		1,101
	421,259		Chevron Corp		30,524
	4,977	*	Chipotle Mexican Grill, Inc (Class A)		3,257
	210,926		Chubb Ltd		23,558
	8,430		Church & Dwight Co, Inc		541
	193,051	n	Cigna Corp		34,205
	5,298		Cincinnati Financial Corp		400
	3,017		Cintas Corp		523
	482,429		Cisco Systems, Inc		18,964
	1,526,533		Citigroup, Inc		64,298
	429,525		Citizens Financial Group, Inc		8,079
	99,473		Citrix Systems, Inc		14,080
	18,596		Clorox Co		3,222
	71,381		CME Group, Inc		12,343
	9,743		CMS Energy Corp		572
	3,398,308		Coca-Cola Co		150,375
	5,950		Cognex Corp		251
	18,795		Cognizant Technology Solutions Corp (Class A)		873
	377,730	*	Coherus Biosciences, Inc		6,127
	378,259		Colgate-Palmolive Co		25,101
	1,741,954		Comcast Corp (Class A)		59,888
	5,286		Comerica, Inc		155
	70,840		ConAgra Brands, Inc		2,078
	6,983		Concho Resources, Inc		299
	236,602		ConocoPhillips		7,287
	11,430		Consolidated Edison, Inc		892
	23,951		Constellation Brands, Inc (Class A)		3,434
	1,617	e	Continental Resources, Inc		12
	6,772		Cooper Cos, Inc		1,867
	7,169	*	Copart, Inc		491
	26,425		Corning, Inc		543
	283,406		Corteva, Inc		6,660
	1,255	*	CoStar Group, Inc		737
	521,674		Costco Wholesale Corp		148,745
	17,551		Coty, Inc		91
	89,280		Crown Castle International Corp		12,892
	707,272	*	Crown Holdings, Inc		41,050
	484,915		CSX Corp		27,786
	4,995		Cummins, Inc		676
	491,643		CVS Health Corp		29,169
	1,131	*	CyberArk Software Ltd		97
	20,954		CyrusOne, Inc		1,294
	252,731		Danaher Corp		34,981
	4,458		Darden Restaurants, Inc		243
	3,107	*	DaVita, Inc		236
	111,786		Deere & Co		15,444

246

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	79,143		Delek US Holdings, Inc	$	1,247
	5,819	*	Dell Technologies, Inc		230
	72,640		Delta Air Lines, Inc		2,072
	7,808		Dentsply Sirona, Inc		303
	11,499		Devon Energy Corp		79
	29,334	*	DexCom, Inc		7,899
	12,579		Diamondback Energy, Inc		330
	24,520		Digital Realty Trust, Inc		3,406
	11,134		Discover Financial Services		397
	5,417	*,e	Discovery, Inc (Class A)		105
	13,184	*	Discovery, Inc (Class C)		231
	33,057	*	DISH Network Corp (Class A)		661
	3,506	*	DocuSign, Inc		324
	28,352		Dollar General Corp		4,281
	42,148	*	Dollar Tree, Inc		3,097
	410,226		Dominion Energy Inc		29,614
	1,333		Domino’s Pizza, Inc		432
	39,609		Dover Corp		3,325
	786,007	n	Dow, Inc		22,983
	11,991		DR Horton, Inc		408
	8,262	*	Dropbox, Inc		150
	6,598		DTE Energy Co		627
	110,903		Duke Energy Corp		8,970
	38,730		Duke Realty Corp		1,254
	415,160	n	DuPont de Nemours, Inc		14,157
	8,909		DXC Technology Co		116
	7,769		E*TRADE Financial Corp		267
	4,630		East West Bancorp, Inc		119
	4,992		Eastman Chemical Co		233
	243,886		Eaton Corp		18,948
	4,241		Eaton Vance Corp		137
	125,910		eBay, Inc		3,785
	27,037		Ecolab, Inc		4,213
	47,670		Edison International		2,612
	312,500	*	Edwards Lifesciences Corp		58,944
	13,352	*	Elanco Animal Health, Inc		299
	125,827	*	Electronic Arts, Inc		12,604
	249,648		Eli Lilly & Co		34,631
	20,925		Emerson Electric Co		997
	232,071		Entergy Corp		21,808
	361,909	*	Envista Holdings Corp		5,407
	110,868		EOG Resources, Inc		3,982
	1,855	*	EPAM Systems, Inc		344
	4,154		Equifax, Inc		496
	30,635		Equinix, Inc		19,134
	1,140,382		Equitable Holdings, Inc		16,479
	65,564		Equity Lifestyle Properties, Inc		3,769
	54,638		Equity Residential		3,372
	851		Erie Indemnity Co (Class A)		126
	7,551		Essential Utilities Inc		307
	12,742		Essex Property Trust, Inc		2,806
	67,590		Estee Lauder Cos (Class A)		10,770
	31,210		Everest Re Group Ltd		6,005
	7,836		Evergy, Inc		431

247

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	11,104		Eversource Energy	$	868
	20,126	*	Exact Sciences Corp		1,167
	143,857		Exelon Corp		5,295
	67,842		Expedia Group Inc		3,817
	5,787		Expeditors International of Washington, Inc		386
	18,843		Extra Space Storage, Inc		1,804
	624,118	d	Exxon Mobil Corp		23,698
	2,089	*	F5 Networks, Inc		223
	906,713	*	Facebook, Inc		151,240
	1,273		Factset Research Systems, Inc		332
	19,683		Fastenal Co		615
	2,447		Federal Realty Investment Trust		183
	8,513		FedEx Corp		1,032
	6,711		Ferguson plc		415
	9,665		Fidelity National Financial Inc		240
	122,862		Fidelity National Information Services, Inc		14,945
	212,735		Fifth Third Bancorp		3,159
	5,674		First Republic Bank		467
	1,231,010		FirstEnergy Corp		49,327
	154,314	*	Fiserv, Inc		14,658
	2,980	*	FleetCor Technologies, Inc		556
	17,996	*	Flextronics International Ltd		151
	4,753		FLIR Systems, Inc		152
	4,179		Flowserve Corp		100
	4,384		FMC Corp		358
	133,965		Ford Motor Co		647
	4,989	*	Fortinet, Inc		505
	228,949		Fortive Corp		12,636
	5,030		Fortune Brands Home & Security, Inc		218
	12,214		Fox Corp (Class A)		289
	6,053		Fox Corp (Class B)		139
	10,062		Franklin Resources, Inc		168
	772,860		Freeport-McMoRan, Inc (Class B)		5,217
	45,000		Gaming and Leisure Properties, Inc		1,247
	8,528	e	Gap, Inc		60
	4,479		Garmin Ltd		336
	3,086	*	Gartner, Inc		307
	8,434		General Dynamics Corp		1,116
	769,386		General Electric Co		6,109
	57,272		General Mills, Inc		3,022
	530,757	*,†	General Motors Co		0
	26,439,985	*,†	General Motors Co		0
	69,850,000	*,†	General Motors Co		0
	19,417,463	*,†	General Motors Co		0
	29,845,445	*,†	General Motors Co		0
	44,200		General Motors Co		918
	13,592,224	*,†	General Motors Co		0
	61,921,000	*,†,e	General Motors Co		0
	18,159,000	*,†	General Motors Co		0
	4,461,000	*,†	General Motors Co		0
	18,106,794	*,†,e	General Motors Co		0
	5,008		Genuine Parts Co		337
	1,109,770		Gilead Sciences, Inc		82,966
	53,915		Global Payments, Inc		7,776

248

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,519		Globe Life, Inc	$	253
	5,886	*	GoDaddy, Inc		336
	246,476		Goldman Sachs Group, Inc		38,103
	3,022	*	GrubHub, Inc		123
	35,000	*	Guardant Health, Inc		2,436
	2,819	*	Guidewire Software, Inc		224
	27,336		Halliburton Co		187
	11,466		Hanesbrands, Inc		90
	4,683	e	Harley-Davidson, Inc		89
	167,300		Hartford Financial Services Group, Inc		5,896
	4,485		Hasbro, Inc		321
	45,857		HCA Healthcare, Inc		4,120
	5,735	*	HD Supply Holdings, Inc		163
	26,193		Healthcare Trust of America, Inc		636
	96,132		Healthpeak Properties Inc		2,293
	1,566		HEICO Corp		117
	2,655		HEICO Corp (Class A)		170
	5,139	*	Henry Schein, Inc		260
	5,085		Hershey Co		674
	9,490		Hess Corp		316
	45,894		Hewlett Packard Enterprise Co		446
	9,195		Hilton Worldwide Holdings, Inc		627
	5,163		HollyFrontier Corp		127
	283,962	*	Hologic, Inc		9,967
	733,853		Home Depot, Inc		137,018
	787,872		Honeywell International, Inc		105,409
	10,069		Hormel Foods Corp		470
	144,688		Host Hotels and Resorts, Inc		1,597
	13,582		Howmet Aerospace, Inc		218
	810,809		HP, Inc		14,076
	41,888	*	HubSpot, Inc		5,579
	52,386		Hudson Pacific Properties		1,329
	15,638		Humana, Inc		4,911
	35,643		Huntington Bancshares, Inc		293
	1,391		Huntington Ingalls		253
	41,657	*	IAC/InterActiveCorp		7,466
	2,611		IDEX Corp		361
	19,970	*	IDEXX Laboratories, Inc		4,838
	13,081		IHS Markit Ltd		785
	11,018		Illinois Tool Works, Inc		1,566
	75,446	*	Illumina, Inc		20,606
	6,274	*	Incyte Corp		459
	432,843	*	Ingersoll Rand, Inc		10,735
	2,372		Ingredion, Inc		179
	2,095	*	Insulet Corp		347
	3,330,577		Intel Corp		180,251
	50,740		Intercontinental Exchange Group, Inc		4,097
	56,976		International Business Machines Corp		6,320
	3,347	e	International Flavors & Fragrances, Inc		342
	106		International Flavors & Fragrances, Inc (Tel Aviv)		11
	30,463		International Paper Co		948
	201,605		Interpublic Group of Cos, Inc		3,264
	63,607		Intuit, Inc		14,630
	15,722	*	Intuitive Surgical, Inc		7,786

249

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	13,445		Invesco Ltd	$	122
	110,763		Invitation Homes, Inc		2,367
	4,485	*	Ionis Pharmaceuticals, Inc		212
	1,286	*	IPG Photonics Corp		142
	20,305	*	IQVIA Holdings, Inc		2,190
	9,434		Iron Mountain, Inc		225
	10,477	e	iShares Dow Jones US Real Estate Index Fund		729
	66,200	e	iShares MSCI Canada Index Fund		1,446
	14,604	e	iShares MSCI South Korea Index Fund		685
	148,932		ITT, Inc		6,756
	3,892		J.M. Smucker Co		432
	2,625		Jack Henry & Associates, Inc		408
	4,554		Jacobs Engineering Group, Inc		361
	13,363		James Hardie Industries NV		155
	154,314	*	Jazz Pharmaceuticals plc		15,391
	2,970		JB Hunt Transport Services, Inc		274
	7,853		Jefferies Financial Group, Inc		107
	686,726		Johnson & Johnson		90,050
	26,487		Johnson Controls International plc		714
	1,735		Jones Lang LaSalle, Inc		175
	1,876,653	n	JPMorgan Chase & Co		168,955
	11,441		Juniper Networks, Inc		219
	73,455		Kansas City Southern		9,342
	8,783		Kellogg Co		527
	1,831,989		Keurig Dr Pepper, Inc		44,462
	35,019		Keycorp		363
	6,436	*	Keysight Technologies, Inc		539
	26,193		Kilroy Realty Corp		1,669
	55,657		Kimberly-Clark Corp		7,117
	15,387		Kimco Realty Corp		149
	69,846		Kinder Morgan, Inc		972
	16,941		KKR & Co, Inc		398
	5,414		KLA Corp		778
	4,374		Knight-Swift Transportation Holdings, Inc		143
	5,668		Kohl’s Corp		83
	23,089		Kraft Heinz Co		571
	141,798		Kroger Co		4,271
	306,093		L3Harris Technologies, Inc		55,133
	22,632	*	Laboratory Corp of America Holdings		2,860
	46,178		Lam Research Corp		11,083
	4,868		Lamb Weston Holdings, Inc		278
	56,188		Las Vegas Sands Corp		2,386
	2,235		Lear Corp		182
	4,982		Leggett & Platt, Inc		133
	4,601		Leidos Holdings, Inc		422
	9,549		Lennar Corp (Class A)		365
	1,123		Lennox International, Inc		204
	24,814	e	Levi Strauss & Co		308
	3,645	*	Liberty Broadband Corp (Class C)		404
	6,884	*	Liberty Media Group (Class C)		187
	3,284	*	Liberty SiriusXM Group (Class A)		104
	6,081	*	Liberty SiriusXM Group (Class C)		192
	6,734		Lincoln National Corp		177
	5,331	*	Live Nation, Inc		242

250

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	10,582	*	LKQ Corp	$	217
	8,708		Lockheed Martin Corp		2,952
	9,213		Loews Corp		321
	303,865		Lowe’s Companies, Inc		26,148
	152,325	*	Lululemon Athletica, Inc		28,873
	12,242	*	Lyft, Inc (Class A)		329
	9,464		LyondellBasell Industries NV		470
	46,554		M&T Bank Corp		4,815
	1,794		Manpower, Inc		95
	26,830		Marathon Oil Corp		88
	22,323		Marathon Petroleum Corp		527
	472	*	Markel Corp		438
	1,301		MarketAxess Holdings, Inc		433
	9,565		Marriott International, Inc (Class A)		716
	258,273		Marsh & McLennan Cos, Inc		22,330
	2,215		Martin Marietta Materials, Inc		419
	21,776		Marvell Technology Group Ltd		493
	10,049		Masco Corp		347
	282,694		Mastercard, Inc (Class A)		68,288
	281,922	*,e	Match Group, Inc		18,618
	9,276		Maxim Integrated Products, Inc		451
	4,245		McCormick & Co, Inc		599
	759,447		McDonald’s Corp		125,575
	35,191		McKesson Corp		4,760
	17,738		Medical Properties Trust, Inc		307
	157,700		Medtronic plc		14,221
	1,101,998		Merck & Co, Inc		84,788
	49,627		Metlife, Inc		1,517
	836	*	Mettler-Toledo International, Inc		577
	855,656		MGM Growth Properties LLC		20,253
	16,288		MGM Resorts International		192
	8,212		Microchip Technology, Inc		557
	113,290	*	Micron Technology, Inc		4,765
	3,215,919		Microsoft Corp		507,183
	22,231		Mid-America Apartment Communities, Inc		2,290
	1,776	*	Middleby Corp		101
	2,137	*	Mohawk Industries, Inc		163
	6,553		Molson Coors Brewing Co (Class B)		256
	767,052		Mondelez International, Inc		38,414
	1,605	*	MongoDB, Inc		219
	1,113,457	*	Monster Beverage Corp		62,643
	5,816		Moody’s Corp		1,230
	2,530,519		Morgan Stanley		86,038
	219,840		Mosaic Co		2,379
	87,220		Motorola Solutions, Inc		11,593
	2,902		MSCI, Inc (Class A)		839
	17,995	*	Mylan NV		268
	3,887		Nasdaq Inc		369
	13,632		National Oilwell Varco, Inc		134
	5,736		National Retail Properties, Inc		185
	8,017		NetApp, Inc		334
	114,196	*	NetFlix, Inc		42,881
	3,032	*	Neurocrine Biosciences, Inc		262
	13,581		Newell Brands Inc		180

251

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	435,060		Newmont Goldcorp Corp	$	19,700
	13,313		News Corp (Class A)		119
	207,000		Nexteer Automotive Group Ltd		103
	210,657		NextEra Energy, Inc		50,688
	11,846		Nielsen NV		149
	1,289,976		Nike, Inc (Class B)		106,733
	12,571		NiSource, Inc		314
	13,208		Noble Energy, Inc		80
	3,692	e	Nordstrom, Inc		57
	8,937		Norfolk Southern Corp		1,305
	6,906		Northern Trust Corp		521
	128,853		Northrop Grumman Corp		38,984
	21,217		NortonLifelock, Inc		397
	5,947	*	Norwegian Cruise Line Holdings Ltd		65
	42,745		NRG Energy, Inc		1,165
	10,449		Nucor Corp		376
	178,622		NVIDIA Corp		47,085
	1,081	*	NVR, Inc		2,777
	30,507		Occidental Petroleum Corp		353
	6,311		OGE Energy Corp		194
	3,646	*	Okta, Inc		446
	3,264		Old Dominion Freight Line		428
	7,516		Omega Healthcare Investors, Inc		199
	7,720		Omnicom Group, Inc		424
	15,036	*	ON Semiconductor Corp		187
	60,743		ONEOK, Inc		1,325
	147,107		Oracle Corp		7,110
	2,599	*	O’Reilly Automotive, Inc		782
	7,149	e	Ovintiv, Inc		20
	127,556		Owens Corning, Inc		4,950
	11,854		PACCAR, Inc		725
	10,120		Packaging Corp of America		879
	3,365	*	Palo Alto Networks, Inc		552
	171,769		Parker-Hannifin Corp		22,284
	298,466		Parsley Energy, Inc		1,710
	11,061		Paychex, Inc		696
	1,683	*	Paycom Software, Inc		340
	1,037,527	*	PayPal Holdings, Inc		99,333
	26,193		Pebblebrook Hotel Trust		285
	2,101,319	*	Peloton Interactive, Inc		55,790
	5,261		Pentair plc		157
	15,256		People’s United Financial, Inc		169
	304,305		PepsiCo, Inc		36,547
	3,814		PerkinElmer, Inc		287
	69,244		Perrigo Co plc		3,330
	1,461,545		Pfizer, Inc		47,705
	290,305		Philip Morris International, Inc		21,181
	125,023		Phillips 66		6,707
	3,790		Pinnacle West Capital Corp		287
	9,341	*	Pinterest, Inc		144
	11,421		Pioneer Natural Resources Co		801
	381,965		Plains All American Pipeline LP		2,017
	111,460		PNC Financial Services Group, Inc		10,669
	1,830		Polaris Inc		88

252

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	82,250		PPG Industries, Inc	$	6,876
	100,135		PPL Corp		2,471
	9,559		Principal Financial Group		300
	1,610,329		Procter & Gamble Co		177,136
	185,981		Progressive Corp		13,733
	231,534		Prologis, Inc		18,608
	60,558		Prudential Financial, Inc		3,158
	3,639	*	PTC, Inc		223
	75,632		Public Service Enterprise Group, Inc		3,397
	17,828		Public Storage, Inc		3,541
	8,362		Pulte Homes, Inc		187
	2,432		PVH Corp		92
	6,722	*	QIAGEN NV (Turquoise)		271
	3,902	*	Qorvo, Inc		315
	157,741		QTS Realty Trust, Inc		9,151
	166,721		QUALCOMM, Inc		11,279
	75,766		Quest Diagnostics, Inc		6,084
	1,812		Ralph Lauren Corp		121
	4,137		Raymond James Financial, Inc		261
	76,324		Raytheon Co		10,010
	37,383		Realty Income Corp		1,864
	51,608		Regency Centers Corp		1,983
	44,778	*	Regeneron Pharmaceuticals, Inc		21,865
	33,346		Regions Financial Corp		299
	2,291		Reinsurance Group of America, Inc (Class A)		193
	7,641		Republic Services, Inc		574
	24,576		Resmed, Inc		3,620
	546,370		Rexford Industrial Realty, Inc		22,407
	2,575	*	RingCentral, Inc		546
	3,853		Robert Half International, Inc		145
	68,064		Rockwell Automation, Inc		10,272
	3,021	*,e	Roku, Inc		264
	4,892		Rollins, Inc		177
	93,127		Roper Technologies Inc		29,038
	21,248		Ross Stores, Inc		1,848
	5,650	e	Royal Caribbean Cruises Ltd		182
	4,282		RPM International, Inc		255
	56,447		S&P Global, Inc		13,832
	8,550		Sabre Corp		51
	27,377	*	Sage Therapeutics, Inc		786
	887,311	*	salesforce.com, Inc		127,755
	218	g	Samsonite International		0	^
	2,583	*	Sarepta Therapeutics, Inc		253
	11,458		SBA Communications Corp		3,093
	49,172		Schlumberger Ltd		663
	8,054		Seagate Technology, Inc		393
	5,151		Sealed Air Corp		127
	51,630	*	Seattle Genetics, Inc		5,957
	3,962		SEI Investments Co		184
	41,867		Sempra Energy		4,731
	6,164	*	Sensata Technologies Holding plc		178
	237,528	*	ServiceNow, Inc		68,071
	15,916		Sherwin-Williams Co		7,314
	1,875		Signature Bank		151

253

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	40,563		Simon Property Group, Inc	$	2,225
	54,261	e	Sirius XM Holdings, Inc		268
	5,845		Skyworks Solutions, Inc		522
	51,601		SL Green Realty Corp		2,224
	125,000	*	Slack Technologies, Inc		3,355
	25,848	*	Snap, Inc		307
	1,846		Snap-On, Inc		201
	263,340		Southern Co		14,257
	4,521		Southwest Airlines Co		161
	3,563		Spirit Aerosystems Holdings, Inc (Class A)		85
	5,297	*	Splunk, Inc		669
	68,000	*	Spotify Technology S.A.		8,258
	107,871	*	Sprint Corp		930
	11,919	*	Square, Inc		624
	8,017		SS&C Technologies Holdings, Inc		351
	26,364		Stanley Black & Decker, Inc		2,636
	189,610		Starbucks Corp		12,465
	52,386		Starwood Property Trust, Inc		537
	106,990		State Street Corp		5,699
	8,381		Steel Dynamics, Inc		189
	7,834		STERIS plc		1,097
	11,557		Stryker Corp		1,924
	33,659		Sun Communities, Inc		4,202
	58,935		Sunstone Hotel Investors, Inc		513
	1,777	*	SVB Financial Group		268
	20,649		Synchrony Financial		332
	93,576	*	Synopsys, Inc		12,052
	28,749		SYSCO Corp		1,312
	8,006		T Rowe Price Group, Inc		782
	226,089	*	Take-Two Interactive Software, Inc		26,816
	9,031		Tapestry, Inc		117
	8,792		Targa Resources Investments, Inc		61
	741,730		Target Corp		68,959
	78,006		TD Ameritrade Holding Corp		2,704
	134,262		TE Connectivity Ltd		8,456
	1,249	*	Teledyne Technologies, Inc		371
	1,588		Teleflex, Inc		465
	5,602		Teradyne, Inc		303
	26,193		Terreno Realty Corp		1,356
	100,810	*,n	Tesla, Inc		52,824
	61,294		Texas Instruments, Inc		6,125
	198,064		Textron, Inc		5,282
	96,207		Thermo Fisher Scientific, Inc		27,284
	83,708		Tiffany & Co		10,840
	9,040	*	Titan Cement International S.A.		106
	202,172		TJX Companies, Inc		9,666
	97,497	*	T-Mobile US, Inc		8,180
	4,157		Tractor Supply Co		351
	336,413		Trane Technologies plc		27,784
	26,210		TransDigm Group, Inc		8,392
	6,442		TransUnion		426
	8,862		Travelers Cos, Inc		880
	8,637	*	Trimble Inc		275
	4,110		TripAdvisor, Inc		71

254

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	286,329		Tronox Holdings plc	$	1,426
	46,052		Truist Financial Corp		1,420
	4,004	*	Twilio, Inc		358
	282,952	*,n	Twitter, Inc		6,949
	1,322	*	Tyler Technologies, Inc		392
	10,142		Tyson Foods, Inc (Class A)		587
	14,451	*	Uber Technologies, Inc		403
	10,384		UDR, Inc		379
	7,664		UGI Corp		204
	1,980	*	Ulta Beauty, Inc		348
	6,159	*	Under Armour, Inc (Class A)		57
	6,144	*	Under Armour, Inc (Class C)		50
	850,530		Union Pacific Corp		119,959
	1,696	*,e	United Airlines Holdings Inc		54
	55,068		United Parcel Service, Inc (Class B)		5,144
	2,581	*	United Rentals, Inc		266
	153,678		United Technologies Corp		14,496
	439,560		UnitedHealth Group, Inc		109,617
	2,810		Universal Health Services, Inc (Class B)		278
	6,551		Unum Group		98
	511,144		US Bancorp		17,609
	1,397		Vail Resorts, Inc		206
	175,196		Valero Energy Corp		7,947
	156,371		Vanguard Emerging Markets ETF		5,246
	50,000		Vanguard FTSE Developed Markets ETF		1,667
	3,052	*	Varian Medical Systems, Inc		313
	25,326	*	Veeva Systems, Inc		3,960
	42,880		Ventas, Inc		1,149
	38,494		VEREIT, Inc		188
	3,626	*	VeriSign, Inc		653
	5,331		Verisk Analytics, Inc		743
	1,000,773		Verizon Communications, Inc		53,772
	89,722	*	Vertex Pharmaceuticals, Inc		21,349
	11,672		VF Corp		631
	142,071		ViacomCBS, Inc (Class B)		1,990
	91,167		VICI Properties, Inc		1,517
	852,306		Visa, Inc (Class A)		137,323
	48,768		Vistra Energy Corp		778
	2,879	*	VMware, Inc (Class A)		349
	5,889		Vornado Realty Trust		213
	399,818		Voya Financial, Inc		16,213
	4,691		Vulcan Materials Co		507
	5,120		W.R. Berkley Corp		267
	58,343		W.W. Grainger, Inc		14,498
	1,622	*	WABCO Holdings, Inc		219
	6,422		Wabtec Corp		309
	86,058		Walgreens Boots Alliance, Inc		3,937
	1,116,491		Walmart, Inc		126,856
	1,328,435		Walt Disney Co		128,327
	9,040		Waste Connections, Inc		701
	151,336		Waste Management, Inc		14,008
	2,202	*	Waters Corp		401
	2,130	*,e	Wayfair, Inc		114
	10,824		WEC Energy Group, Inc		954

255

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	80,250	*	Welbilt, Inc	$	412
	360,390		Wells Fargo & Co		10,343
	50,603		Welltower, Inc		2,317
	33,051		West Pharmaceutical Services, Inc		5,032
	10,188		Western Digital Corp		424
	14,728		Western Union Co		267
	1,274		Westlake Chemical Corp		49
	8,873		WestRock Co		251
	56,211		Weyerhaeuser Co		953
	2,176		Whirlpool Corp		187
	177,950		Williams Cos, Inc		2,518
	9,265		Willis Towers Watson plc		1,574
	5,631	*	Workday, Inc		733
	6,123		WP Carey, Inc		356
	647,173	*	WPX Energy, Inc		1,974
	97,376		WR Grace and Co		3,467
	898,975		Wynn Resorts Ltd		54,109
	17,972		Xcel Energy, Inc		1,084
	6,204		Xerox Holdings Corp		118
	8,634		Xilinx, Inc		673
	3,164	*	XPO Logistics, Inc		154
	6,154		Xylem, Inc		401
	46,336		Yum! Brands, Inc		3,175
	1,815	*	Zebra Technologies Corp (Class A)		333
	4,275	*,e	Zillow Group, Inc (Class C)		154
	108,681		Zimmer Biomet Holdings, Inc		10,985
	5,877		Zions Bancorporation		157
	232,479		Zoetis, Inc		27,360
			TOTAL UNITED STATES		8,767,845
ZAMBIA - 0.0%
	877,727		First Quantum Minerals Ltd		4,484
			TOTAL ZAMBIA		4,484
			TOTAL COMMON STOCKS		15,900,320
			(Cost $17,416,043)
PURCHASED OPTIONS - 0.0%
UNITED STATES - 0.0%
	37,000		Dow, Inc		18
			TOTAL UNITED STATES		18
			TOTAL PURCHASED OPTIONS		18
			(Cost $51)
RIGHTS / WARRANTS - 0.0%
CHINA - 0.0%
	3,146	†	Legend Holdings Corp		0	^
			TOTAL CHINA		0	^
THAILAND - 0.0%
	63,519		BTS Group Holdings PCL		1
			TOTAL THAILAND		1
UNITED STATES - 0.0%
	10,700		Bristol-Myers Squibb Co		41
			TOTAL UNITED STATES		41
			TOTAL RIGHTS / WARRANTS		42
			(Cost $23)

256

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 0.8%
GOVERNMENT AGENCY DEBT - 0.4%
$	16,635,000		Federal Home Loan Bank (FHLB)		0.190	%	07/31/20	$	16,630
	6,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.100		08/19/20		5,997
	10,000,000		FHLMC		0.050		10/19/20		9,992
	10,000,000		Federal National Mortgage Association (FNMA)		0.200		10/16/20		9,993
	10,000,000		FNMA		0.249		09/23/20		9,994
			TOTAL GOVERNMENT AGENCY DEBT						52,606
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.4%
CERTIFICATE OF DEPOSIT - 0.2%
	6,000,000		Australia & New Zealand Banking Group Ltd		1.119		04/27/20		6,000
	6,000,000		ING US Funding LLC		0.905		05/15/20		6,000
	7,000,000		Lloyds Bank plc		2.001		10/01/20		7,000
	6,000,000		Mizuho Bank Ltd		1.821		04/02/20		6,000
	15,000,000		Natixis		0.944		05/14/20		15,000
			TOTAL CERTIFICATE OF DEPOSIT						40,000
REPURCHASE AGREEMENT - 0.2%
	3,000,000	r	Calyon		0.010		04/01/20		3,000
	5,000,000	s	Goldman Sachs		0.010		04/01/20		5,000
	10,000,000	t	JP Morgan		0.020		04/01/20		10,000
	7,000,000	u	Merrill Lynch		0.010		04/01/20		7,000
	10,000,000	v	Nomura		0.020		04/01/20		10,000
	5,000,000	w	Royal Bank of Scotland		0.010		04/01/20		5,000
			TOTAL REPURCHASE AGREEMENT						40,000
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						80,000
			TOTAL SHORT-TERM INVESTMENTS						132,606
			(Cost $132,596)
			TOTAL INVESTMENTS - 99.6%						16,032,986
			(Cost $17,548,713)
			OTHER ASSETS & LIABILITIES, NET - 0.4%						57,028
			NET ASSETS - 100.0%					$	16,090,014

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

257

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

*	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 $146,903,710.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/20, the aggregate value of these securities is $237,668,869 or 1.5% of net assets.
n	All or a portion of these securities have been segregated by the custodian to cover requirements on open written options contracts.
r	Agreement with Calyon, 0.01% dated 3/31/2020 to be repurchased at $3,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $3,060,000.
s	Agreement with Goldman Sachs, 0.01% dated 3/31/2020 to be repurchased at $5,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $5,100,000.
t	Agreement with JP Morgan, 0.02% dated 3/31/2020 to be repurchased at $10,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $10,200,000.
u	Agreement with Merrill Lynch, 0.01% dated 3/31/2020 to be repurchased at $7,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $7,140,000.
v	Agreement with Nomura, 0.02% dated 3/31/2020 to be repurchased at $10,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $10,200,000.
w	Agreement with Royal Bank of Scotland, 0.01% dated 3/31/2020 to be repurchased at $5,000,000 on 4/01/20, collateralized by U.S. Government Agency Securities valued at $5,100,000.
	Cost amounts are in thousands.

Purchased options outstanding as of March 31, 2020 were as follows (notional amounts and values are in thousands):

Description/underlying investment	Number of contracts	Notional amount			Exercise price		Expiration date	Value
Dow, Inc, Call	370	$	51		$	50.00	01/15/21	$	18
Written options outstanding as of March 31, 2020 were as follows (notional amounts and values are in thousands):
Description/underlying investment	Number of contracts	Notional amount			Exercise price		Expiration date	Value
Apple, Inc, Call	150	$	(60	)	$	350.00	04/17/20	$	(0	)^
Boeing Co, Call	144		(116	)		220.00	04/17/20		(7	)
Cigna Corp, Put	78		(190	)		160.00	06/19/20		(94	)
Dow, Inc, Put	370		(51	)		25.00	01/15/21		(141	)
DuPont de Nemours, Inc, Put	228		(93	)		42.50	10/16/20		(246	)
DuPont de Nemours, Inc, Put	228		(120	)		45.00	10/16/20		(288	)
JPMorgan Chase & Co, Call	176		(14	)		141.00	04/03/20		(5	)
Tesla, Inc, Call	25		(71	)		1,000.00	04/17/20		(1	)
Twitter, Inc, Put	440		(226	)		28.00	06/19/20		(191	)
Total	1,839		(941	)				$	(973	)
^    Amount represents less than $1,000.

Futures contracts outstanding as of March 31, 2020 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	195	06/19/20	$	13,861	$	15,203	$	1,342
S&P 500 E Mini Index	236	06/19/20		32,193		30,323		(1,870	)
Total	431		$	46,054	$	45,526	$	(528	)

258

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SUMMARY OF MARKET VALUES BY SECTOR

March 31, 2020

SECTOR	VALUE (000)		% OF NET ASSETS
INFORMATION TECHNOLOGY	$	3,332,373		20.7	%
HEALTH CARE		2,291,880		14.2
CONSUMER DISCRETIONARY		2,199,096		13.7
FINANCIALS		1,866,608		11.6
COMMUNICATION SERVICES		1,581,023		9.8
CONSUMER STAPLES		1,436,848		8.9
INDUSTRIALS		1,395,097		8.7
MATERIALS		701,969		4.4
UTILITIES		512,273		3.2
REAL ESTATE		339,216		2.1
ENERGY		243,997		1.5
SHORT-TERM INVESTMENTS		132,606		0.8
OTHER ASSETS & LIABILITES, NET		57,028		0.4
NET ASSETS	$	16,090,014		100.0	%

259

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND

GROWTH ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2020

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.6%
AUTOMOBILES & COMPONENTS - 0.9%
	389		Aptiv plc	$	19
	404,276	*	Tesla, Inc		211,841
			TOTAL AUTOMOBILES & COMPONENTS		211,860
BANKS - 0.0%
	388		CIT Group, Inc		7
	490	e	Comerica, Inc		14
	1,333	e	First Republic Bank		110
	257	*,e	LendingTree, Inc		47
	146	e	Prosperity Bancshares, Inc		7
	978		Signature Bank		79
	134	*	SVB Financial Group		20
	554		Synovus Financial Corp		10
	35		Western Alliance Bancorp		1
			TOTAL BANKS		295
CAPITAL GOODS - 3.1%
	68,403		3M Co		9,338
	637		A.O. Smith Corp		24
	272		Acuity Brands, Inc		23
	488		Air Lease Corp		11
	2,620	e	Allegion plc		241
	180,435		Allison Transmission Holdings, Inc		5,884
	137,690		Ametek, Inc		9,916
	31,664		Armstrong World Industries, Inc		2,515
	393,187		Boeing Co		58,640
	2,648		BWX Technologies, Inc		129
	1,783		Carlisle Cos, Inc		223
	1,559		Caterpillar, Inc		181
	1,350		Deere & Co		187
	4,733		Donaldson Co, Inc		183
	2,364		Dover Corp		198
	2,310		Emerson Electric Co		110
	19,234		Fastenal Co		601
	506		Flowserve Corp		12
	111,362		Fortive Corp		6,146
	1,658		Fortune Brands Home & Security, Inc		72
	635		General Dynamics Corp		84
	6,118		Graco, Inc		298
	37,139		HEICO Corp		2,771
	60,762		HEICO Corp (Class A)		3,883
	2,880		Hexcel Corp		107
	729,250		Honeywell International, Inc		97,566
	1,118		Hubbell, Inc		128
	1,190		Huntington Ingalls		217
	1,412		IDEX Corp		195

260

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	36,207		Illinois Tool Works, Inc	$	5,146
	20,752	*	Ingersoll Rand, Inc		515
	561,422		L3Harris Technologies, Inc		101,123
	1,199	e	Lennox International, Inc		218
	2,074	e	Lincoln Electric Holdings, Inc		143
	57,295		Lockheed Martin Corp		19,420
	2,061	*,e	Middleby Corp		117
	1,946		Nordson Corp		263
	356,543		Northrop Grumman Corp		107,872
	223,080		Parker-Hannifin Corp		28,940
	1,213		Quanta Services, Inc		38
	6,474		Raytheon Co		849
	4,298		Rockwell Automation, Inc		649
	756,083		Roper Technologies Inc		235,754
	2,412	*	Sensata Technologies Holding plc		70
	3,287	e	Spirit Aerosystems Holdings, Inc (Class A)		79
	3,959		Toro Co		258
	13,967		Trane Technologies plc		1,154
	1,560		TransDigm Group, Inc		499
	1,979	*	United Rentals, Inc		204
	1,610		W.W. Grainger, Inc		400
	31,104	*	WABCO Holdings, Inc		4,201
	60,627		Wabtec Corp		2,918
	1,691		Woodward Inc		100
	6,655		Xylem, Inc		433
			TOTAL CAPITAL GOODS		711,246
COMMERCIAL & PROFESSIONAL SERVICES - 1.8%
	692,262	*,e	Cimpress plc		36,828
	36,427		Cintas Corp		6,310
	2,945,724	*,e	Clarivate Analytics plc		61,124
	7,474	*	Copart, Inc		512
	1,337	*	CoStar Group, Inc		785
	3,794	e	Equifax, Inc		453
	4,158,381		Experian Group Ltd		115,567
	4,531	*	IAA, Inc		136
	52,084		IHS Markit Ltd		3,125
	3,857		KAR Auction Services, Inc		46
	1,158		Nielsen NV		14
	438		Republic Services, Inc		33
	4,242		Robert Half International, Inc		160
	5,285		Rollins, Inc		191
	60,769		TransUnion		4,022
	5,935		Verisk Analytics, Inc		827
	2,268,208		Waste Connections, Inc		175,786
	12,387		Waste Management, Inc		1,147
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		407,066
CONSUMER DURABLES & APPAREL - 2.0%
	656	*	Capri Holdings Ltd		7
	613		Carter’s, Inc		40
	1,085	e	Columbia Sportswear Co		76
	687,345		Essilor International S.A.		72,773
	10,066	e	Hanesbrands, Inc		79

261

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	4,728		Hasbro, Inc	$	338
	350		Lennar Corp (B Shares)		10
	4,275	e	Lennar Corp (Class A)		163
	229,810	*	Lululemon Athletica, Inc		43,561
	7,071	*	Mattel, Inc		62
	2,609,294		Nike, Inc (Class B)		215,893
	2,174	*,e	NVR, Inc		5,585
	303,911	*	Peloton Interactive, Inc		8,069
	46,425		Polaris Inc		2,236
	11,586,400		Prada S.p.A		33,554
	1,781	*	Skechers U.S.A., Inc (Class A)		42
	1,502,202		Sony Corp		88,981
	1,667	*	Tempur Sealy International, Inc		73
	4,634	*,e	Under Armour, Inc (Class A)		43
	4,626	*	Under Armour, Inc (Class C)		37
	11,499		VF Corp		622
			TOTAL CONSUMER DURABLES & APPAREL		472,244
CONSUMER SERVICES - 1.6%
	38,254	*	Bright Horizons Family Solutions		3,902
	981,907	e	Carnival Corp		12,932
	225,865	*	Chipotle Mexican Grill, Inc (Class A)		147,806
	922	e	Choice Hotels International, Inc		56
	4,573		Darden Restaurants, Inc		249
	1,526		Domino’s Pizza, Inc		495
	2,896		Dunkin Brands Group, Inc		154
	33,064	*	Grand Canyon Education, Inc		2,522
	260		H&R Block, Inc		4
	659	*	Hilton Grand Vacations, Inc		10
	76,432	e	Hilton Worldwide Holdings, Inc		5,216
	1,792,832		Las Vegas Sands Corp		76,142
	18,894	e	Marriott International, Inc (Class A)		1,413
	482,983		McDonald’s Corp		79,861
	168,611	e	MGM Resorts International		1,990
	86	*,e	Norwegian Cruise Line Holdings Ltd		1
	39,588	*	Planet Fitness, Inc		1,928
	103,463		Service Corp International		4,046
	188	*	ServiceMaster Global Holdings, Inc		5
	432		Six Flags Entertainment Corp		5
	428,572		Starbucks Corp		28,174
	1,346		Vail Resorts, Inc		199
	6,907		Wendy’s		103
	796		Wyndham Hotels & Resorts, Inc		25
	3,046	e	Wynn Resorts Ltd		183
	131,542		Yum China Holdings, Inc		5,608
	53,814		Yum! Brands, Inc		3,688
			TOTAL CONSUMER SERVICES		376,717
DIVERSIFIED FINANCIALS - 3.5%
	61,614		American Express Co		5,275
	636	e	Ameriprise Financial, Inc		65
	115,589	e	BlackRock, Inc		50,856
	1,086	e	CBOE Global Markets, Inc		97

262

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,225,386		Charles Schwab Corp	$	74,818
	325	*,e	Credit Acceptance Corp		83
	60,949		Discover Financial Services		2,174
	2,438		E*TRADE Financial Corp		84
	194		Evercore Inc		9
	1,396		Factset Research Systems, Inc		364
	651		Interactive Brokers Group, Inc (Class A)		28
	142,353		Intercontinental Exchange Group, Inc		11,495
	1,409,500	e	iShares Russell 1000 Growth Index Fund		212,341
	1,394		Lazard Ltd (Class A)		33
	2,741		LPL Financial Holdings, Inc		149
	25,382	e	MarketAxess Holdings, Inc		8,441
	28,822		Moody’s Corp		6,096
	633	e	Morningstar, Inc		74
	3,064	e	MSCI, Inc (Class A)		885
	1,254		Raymond James Financial, Inc		79
	1,571,464	e	S&P Global, Inc		385,087
	2,556		SEI Investments Co		118
	7,840		Synchrony Financial		126
	2,472	e	T Rowe Price Group, Inc		241
	8,718		TD Ameritrade Holding Corp		302
	186		Virtu Financial, Inc		4
	1,017,554	e	Voya Financial, Inc		41,262
			TOTAL DIVERSIFIED FINANCIALS		800,586
ENERGY - 0.1%
	464,883		Cabot Oil & Gas Corp		7,991
	4,980	*,e	Cheniere Energy, Inc		167
	591		Diamondback Energy, Inc		15
	1,218	e	Equitrans Midstream Corp		6
	4,629	e	ONEOK, Inc		101
	1,843,206		Parsley Energy, Inc		10,562
	2,638		Pioneer Natural Resources Co		185
			TOTAL ENERGY		19,027
FOOD & STAPLES RETAILING - 2.6%
	370		Casey’s General Stores, Inc		49
	1,451,533		Costco Wholesale Corp		413,875
	82	*,e	Grocery Outlet Holding Corp		3
	130,007	*	Sprouts Farmers Market, Inc		2,417
	38,257		SYSCO Corp		1,746
	1,505,343		Walmart, Inc		171,037
			TOTAL FOOD & STAPLES RETAILING		589,127
FOOD, BEVERAGE & TOBACCO - 1.7%
	194,496		Altria Group, Inc		7,521
	1,298		Brown-Forman Corp (Class A)		67
	5,974	e	Brown-Forman Corp (Class B)		332
	37,546	e	Campbell Soup Co		1,733
	543,747		Coca-Cola Co		24,061
	7,331,906		Davide Campari-Milano S.p.A		52,580
	1,466,787		Fevertree Drinks plc		21,874
	91,483		Hershey Co		12,121

263

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	3,513	e	Kellogg Co	$	211
	2,768,195	e	Keurig Dr Pepper, Inc		67,184
	1,356		Lamb Weston Holdings, Inc		77
	37,196		McCormick & Co, Inc		5,252
	3,138,630	*	Monster Beverage Corp		176,579
	270,840		PepsiCo, Inc		32,528
	248	*	Pilgrim’s Pride Corp		4
	1,091	*	Post Holdings, Inc		91
	102	*,e	TreeHouse Foods, Inc		5
			TOTAL FOOD, BEVERAGE & TOBACCO		402,220
HEALTH CARE EQUIPMENT & SERVICES - 4.7%
	117,101		Abbott Laboratories		9,240
	1,660	*	Abiomed, Inc		241
	1,080,099	*	Alcon, Inc		55,334
	2,082,686	*,e	Alcon, Inc (XNYS)		105,842
	363,738	*	Align Technology, Inc		63,272
	5,540		AmerisourceBergen Corp		490
	2,770		Anthem, Inc		629
	1,521,158		Baxter International, Inc		123,503
	848		Becton Dickinson & Co		195
	3,836,327	*	Boston Scientific Corp		125,179
	389		Cantel Medical Corp		14
	37,837	*	Centene Corp		2,248
	11,639		Cerner Corp		733
	4,263	*,e	Change Healthcare, Inc		43
	579		Chemed Corp		251
	593,338		Cigna Corp		105,128
	230		Cooper Cos, Inc		63
	883,728		CVS Health Corp		52,432
	42,674		Danaher Corp		5,906
	22,973	*	DexCom, Inc		6,186
	254,830	*	Edwards Lifesciences Corp		48,066
	2,145	e	Encompass Health Corp		137
	2,509	*	Envista Holdings Corp		37
	649,341	*,e	Guardant Health, Inc		45,194
	80,632		HCA Healthcare, Inc		7,245
	682	*	Henry Schein, Inc		34
	1,497		Hill-Rom Holdings, Inc		151
	164,216	*	Hologic, Inc		5,764
	20,368		Humana, Inc		6,396
	138	*	ICU Medical, Inc		28
	15,303	*	IDEXX Laboratories, Inc		3,707
	2,214	*	Insulet Corp		367
	465,536	*	Intuitive Surgical, Inc		230,538
	372	*	Laboratory Corp of America Holdings		47
	7,320	*	Masimo Corp		1,297
	25,950		McKesson Corp		3,510
	1,758	*	Molina Healthcare, Inc		246
	1,174	*,e	Penumbra, Inc		189
	1,734	*	PPD, Inc		31
	5,291		Resmed, Inc		779
	127		STERIS plc		18

264

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	52,969		Stryker Corp	$	8,819
	1,723	e	Teleflex, Inc		505
	210,113	e	UnitedHealth Group, Inc		52,398
	3,393	*	Varian Medical Systems, Inc		348
	70,985	*	Veeva Systems, Inc		11,100
	33,929	e	West Pharmaceutical Services, Inc		5,166
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,089,046
HOUSEHOLD & PERSONAL PRODUCTS - 0.4%
	9,168		Church & Dwight Co, Inc		588
	3,842		Clorox Co		666
	555,853		Estee Lauder Cos (Class A)		88,569
	784	*,e	Herbalife Nutrition Ltd		23
	27,008		Procter & Gamble Co		2,971
	197,224		Reynolds Consumer Products Inc		5,753
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		98,570
INSURANCE - 0.0%
	93		Alleghany Corp		51
	20,864		Aon plc		3,443
	2,082	*	Arch Capital Group Ltd		59
	1,449	e	Arthur J. Gallagher & Co		118
	1,366	*	Athene Holding Ltd		34
	104		Axis Capital Holdings Ltd		4
	371	e	Brown & Brown, Inc		13
	587	e	Erie Indemnity Co (Class A)		87
	529		Everest Re Group Ltd		102
	332		Kemper Corp		25
	42	*	Markel Corp		39
	40,527	e	Marsh & McLennan Cos, Inc		3,504
	1,113		Primerica, Inc		99
	29,668	e	Progressive Corp		2,191
	721		RenaissanceRe Holdings Ltd		108
	1,790		Travelers Cos, Inc		178
			TOTAL INSURANCE		10,055
MATERIALS - 1.0%
	1,164		Air Products & Chemicals, Inc		232
	898		Aptargroup, Inc		89
	2,920		Avery Dennison Corp		298
	2,242	*	Axalta Coating Systems Ltd		39
	11,995	e	Ball Corp		776
	1,702	*	Berry Global Group, Inc		57
	220		CF Industries Holdings, Inc		6
	2,796	*	Crown Holdings, Inc		162
	1,239		Eagle Materials, Inc		72
	30,374		Ecolab, Inc		4,733
	1,656	*	Element Solutions, Inc		14
	644,986		Linde plc		111,583
	717		Martin Marietta Materials, Inc		136
	216		NewMarket Corp		83
	2,859		PPG Industries, Inc		239
	897		Royal Gold, Inc		79

265

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	795	e	RPM International, Inc	$	47
	1,478		Scotts Miracle-Gro Co (Class A)		151
	560		Sealed Air Corp		14
	254,659		Sherwin-Williams Co		117,021
	2,072		Southern Copper Corp (NY)		58
	4,533		Vulcan Materials Co		490
	2,110		WR Grace and Co		75
			TOTAL MATERIALS		236,454
MEDIA & ENTERTAINMENT - 14.5%
	14,424	*	Activision Blizzard, Inc		858
	295,251	*	Alphabet, Inc (Class A)		343,067
	766,569	*	Alphabet, Inc (Class C)		891,374
	276,419	*,e	Altice USA, Inc		6,161
	1,491	*,e	AMC Networks, Inc		36
	162		Cable One, Inc		266
	9,666	*	Charter Communications, Inc		4,217
	2,308,089		Comcast Corp (Class A)		79,352
	1,384,500	*,e	Electronic Arts, Inc		138,685
	5,168,361	*	Facebook, Inc		862,083
	2,014		Fox Corp (Class A)		48
	1,033		Fox Corp (Class B)		24
	1,239,746	*	IAC/InterActiveCorp		222,200
	434,875		Interpublic Group of Cos, Inc		7,041
	4,829	*,e	Live Nation, Inc		220
	112	*	Madison Square Garden Co		24
	2,004	*,e	Match Group, Inc		132
	536,838	*	NetFlix, Inc		201,583
	74,589	e	New York Times Co (Class A)		2,291
	1,301		Nexstar Media Group Inc		75
	81,514		Omnicom Group, Inc		4,475
	3,185	*,e	Roku, Inc		279
	1,666		Sinclair Broadcast Group, Inc (Class A)		27
	1,731,884	e	Sirius XM Holdings, Inc		8,556
	95,604	*,e	Spotify Technology S.A.		11,610
	14,045	*	Take-Two Interactive Software, Inc		1,666
	5,168,819		Tencent Holdings Ltd		255,482
	3,512	e	TripAdvisor, Inc		61
	4,856,524	*	Twitter, Inc		119,276
	232	e	ViacomCBS, Inc (Class A)		4
	11,204		ViacomCBS, Inc (Class B)		157
	1,895,564		Walt Disney Co		183,111
	1,545	e	World Wrestling Entertainment, Inc (Class A)		52
	5,010	*	Zynga, Inc		34
			TOTAL MEDIA & ENTERTAINMENT		3,344,527
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 12.0%
	1,919,080		AbbVie, Inc		146,215
	1,368	*	Adaptive Biotechnologies Corp		38
	914		Agilent Technologies, Inc		65
	313	*,e	Agios Pharmaceuticals, Inc		11
	141,119	*	Alexion Pharmaceuticals, Inc		12,671
	3,350	*	Alnylam Pharmaceuticals, Inc		365

266

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	99,270		Amgen, Inc	$	20,125
	3,691,203		AstraZeneca plc		328,882
	7,512,606	*,e	Avantor, Inc		93,832
	2,221	*	Biogen, Inc		703
	263,527	*,e	BioMarin Pharmaceutical, Inc		22,268
	1,417		Bio-Techne Corp		269
	2,102,180	e	Bristol-Myers Squibb Co		117,175
	95,286		Bruker BioSciences Corp		3,417
	48,860	*	Charles River Laboratories International, Inc		6,167
	815,108		Daiichi Sankyo Co Ltd		55,979
	372,205		Eisai Co Ltd		27,226
	708,564		Eli Lilly & Co		98,292
	5,238	*,e	Exact Sciences Corp		304
	110,879	*	Exelixis, Inc		1,909
	675,150		Gilead Sciences, Inc		50,474
	2,408,104	e	GlaxoSmithKline plc (ADR)		91,243
	1,027	*	Horizon Therapeutics Plc		30
	1,165,790	*	Illumina, Inc		318,401
	115,447	*	Incyte Corp		8,454
	4,787	*	Ionis Pharmaceuticals, Inc		226
	746,519	*	IQVIA Holdings, Inc		80,520
	1,837	*	Jazz Pharmaceuticals plc		183
	52,548		Johnson & Johnson		6,891
	291,817		Lonza Group AG.		120,031
	2,335,759		Merck & Co, Inc		179,713
	884	*	Mettler-Toledo International, Inc		610
	7,546	*	Moderna, Inc		226
	449	*,e	Nektar Therapeutics		8
	3,403	*,e	Neurocrine Biosciences, Inc		295
	1,390,962		Novo Nordisk AS		83,063
	24,242		PerkinElmer, Inc		1,825
	2,453,396		Pfizer, Inc		80,079
	49,441	*	PRA Health Sciences, Inc		4,106
	379,480	*	Regeneron Pharmaceuticals, Inc		185,296
	1,672	*,e	Sage Therapeutics, Inc		48
	2,645	*	Sarepta Therapeutics, Inc		259
	4,335	*	Seattle Genetics, Inc		500
	81,377		Thermo Fisher Scientific, Inc		23,079
	777,396	*	Vertex Pharmaceuticals, Inc		184,981
	2,378	*	Waters Corp		433
	4,879,502	*,g	Wuxi Biologics Cayman, Inc		62,296
	2,991,582		Zoetis, Inc		352,079
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		2,771,262
REAL ESTATE - 0.5%
	57,014		American Homes 4 Rent		1,323
	73,331		American Tower Corp		15,968
	989,071		Americold Realty Trust		33,668
	1,203	e	Brookfield Property REIT, Inc		10
	4,594	*	CBRE Group, Inc		173
	2,674		Colony Capital, Inc		5
	1,093		Coresite Realty		127
	39,977		Crown Castle International Corp		5,773
	35,600		Equinix, Inc		22,235

267

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	166,050		Equity Lifestyle Properties, Inc	$	9,544
	3,818		Extra Space Storage, Inc		366
	295	*,e	Howard Hughes Corp		15
	1,151	e	Iron Mountain, Inc		27
	153		Jones Lang LaSalle, Inc		15
	3,194		Lamar Advertising Co		164
	1,289	e	Outfront Media, Inc		17
	4,180		Public Storage, Inc		830
	61,903		SBA Communications Corp		16,712
	10,248		Simon Property Group, Inc		562
	52,386		Sun Communities, Inc		6,540
	568		UDR, Inc		21
			TOTAL REAL ESTATE		114,095
RETAILING - 11.1%
	593		Advance Auto Parts, Inc		55
	930,015	*	Amazon.com, Inc		1,813,269
	1,173,429	*	ASOS plc		17,266
	885	*	AutoZone, Inc		749
	1,965		Best Buy Co, Inc		112
	20,908	*	Booking Holdings, Inc		28,128
	2,455	*	Burlington Stores, Inc		389
	1,760,533	*,e	CarMax, Inc		94,769
	1,621	*,e	Carvana Co		89
	73,322		Dollar General Corp		11,072
	56,779	*	Dollar Tree, Inc		4,172
	86,980		eBay, Inc		2,615
	43,300	*	Etsy, Inc		1,664
	1,403,573	e	Expedia Group Inc		78,979
	2,952,126	*,e	Farfetch Ltd		23,322
	2,055	*,e	Five Below, Inc		145
	2,542	*,e	Floor & Decor Holdings, Inc		82
	7,939,632	*	Groupon, Inc		7,782
	1,761,018	*,e	GrubHub, Inc		71,726
	152,557		Home Depot, Inc		28,484
	192,678		Kering		100,465
	208	e	L Brands, Inc		2
	1,126	*	LKQ Corp		23
	1,067,274		Lowe’s Companies, Inc		91,839
	3,535	e	Nordstrom, Inc		54
	1,970	*,e	Ollie’s Bargain Outlet Holdings, Inc		91
	2,779	*	O’Reilly Automotive, Inc		837
	1,427		Pool Corp		281
	71,348		Ross Stores, Inc		6,205
	37,409		Target Corp		3,478
	2,540,066		TJX Companies, Inc		121,441
	4,444		Tractor Supply Co		376
	2,053,464	*	Trip.com Group Ltd (ADR)		48,154
	2,051	*	Ulta Beauty, Inc		360
	2,371	*,e	Wayfair, Inc		127
	329	e	Williams-Sonoma, Inc		14
			TOTAL RETAILING		2,558,616

268

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 6.5%
	1,462,530	*,e	Advanced Micro Devices, Inc	$	66,516
	1,848		Analog Devices, Inc		166
	4,532,736	e	Applied Materials, Inc		207,690
	374,283		Broadcom, Inc		88,742
	479	*	Cree, Inc		17
	5,021		Entegris, Inc		225
	2,633,626		Intel Corp		142,532
	55,138	e	KLA Corp		7,925
	600,326		Lam Research Corp		144,078
	2,478,258		Marvell Technology Group Ltd		56,083
	19,309		Maxim Integrated Products, Inc		939
	65,362	e	Microchip Technology, Inc		4,431
	1,576		Monolithic Power Systems, Inc		264
	1,220,374		NVIDIA Corp		321,691
	324,036		NXP Semiconductors NV		26,872
	1,374,766		QUALCOMM, Inc		93,003
	227		Skyworks Solutions, Inc		20
	1,080,098		Taiwan Semiconductor Manufacturing Co Ltd (ADR)		51,618
	6,226		Teradyne, Inc		337
	2,926,815		Texas Instruments, Inc		292,477
	1,595		Universal Display Corp		210
	9,298		Xilinx, Inc		725
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		1,506,561
SOFTWARE & SERVICES - 24.3%
	154	*,e	2U, Inc		3
	134,596		Accenture plc		21,974
	895,927	*	Adobe, Inc		285,120
	249,997	*,g	Adyen NV		212,471
	991,978	*	Akamai Technologies, Inc		90,756
	248		Alliance Data Systems Corp		8
	1,696	*	Alteryx, Inc		161
	3,066	*	Anaplan, Inc		93
	3,109	*	Ansys, Inc		723
	2,541	*	Aspen Technology, Inc		242
	61,276	*	Atlassian Corp plc		8,411
	81,142	*	Autodesk, Inc		12,666
	605,996		Automatic Data Processing, Inc		82,828
	46,080	*	Avalara, Inc		3,438
	341	*,e	Bill.Com Holdings, Inc		12
	5,338	*	Black Knight, Inc		310
	83,565		Booz Allen Hamilton Holding Co		5,736
	4,246		Broadridge Financial Solutions, Inc		403
	177,358	*	Cadence Design Systems, Inc		11,713
	182,571		CDK Global, Inc		5,997
	2,813	*	Ceridian HCM Holding, Inc		141
	3,878		Citrix Systems, Inc		549
	1,646		Cognizant Technology Solutions Corp (Class A)		76
	269		CoreLogic Inc		8
	2,372	*,e	Coupa Software, Inc		331
	5,893	*	DocuSign, Inc		545
	314,769	*	Dropbox, Inc		5,697
	58,055	*	Dynatrace, Inc		1,384

269

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,165	*	Elastic NV	$	121
	1,929	*	EPAM Systems, Inc		358
	2,164	*	Euronet Worldwide, Inc		186
	1,057	*	Fair Isaac Corp		325
	699,074		Fidelity National Information Services, Inc		85,035
	8,644	*	FireEye, Inc		91
	82,879	*	Fiserv, Inc		7,873
	3,181	*	FleetCor Technologies, Inc		593
	5,334	*	Fortinet, Inc		540
	40,015	*,e	Gartner, Inc		3,984
	119,655		Genpact Ltd		3,494
	37,483		Global Payments, Inc		5,406
	64,953	*	GoDaddy, Inc		3,709
	3,087	*,e	Guidewire Software, Inc		245
	1,523	*,e	HubSpot, Inc		203
	85,664		International Business Machines Corp		9,503
	1,632,736		Intuit, Inc		375,529
	2,519		Jack Henry & Associates, Inc		391
	2,716	*,e	Manhattan Associates, Inc		135
	1,380,252		Mastercard, Inc (Class A)		333,414
	2,387	*,e	Medallia, Inc		48
	10,774,853		Microsoft Corp		1,699,302
	1,584	*,e	MongoDB, Inc		216
	2,182	*,e	New Relic, Inc		101
	6,508	*,e	Nutanix, Inc		103
	3,904	*	Okta, Inc		477
	356,092		Oracle Corp		17,210
	1,034	*,e	Pagerduty, Inc		18
	3,533	*	Palo Alto Networks, Inc		579
	108,987		Paychex, Inc		6,857
	1,831	*	Paycom Software, Inc		370
	1,283	*	Paylocity Holding Corp		113
	5,344,498	*	PayPal Holdings, Inc		511,682
	1,360	e	Pegasystems, Inc		97
	2,251	*,e	Pluralsight, Inc		25
	2,075	*,e	Proofpoint, Inc		213
	3,875	*	PTC, Inc		237
	48,198	*,e	RealPage, Inc		2,551
	2,772	*,e	RingCentral, Inc		587
	2,835		Sabre Corp		17
	4,854,570	*	salesforce.com, Inc		698,961
	694,668	*	ServiceNow, Inc		199,078
	1,963,816	*	Slack Technologies, Inc		52,709
	3,260	*,e	Smartsheet, Inc		135
	697	*,e	SolarWinds Corp		11
	525,971	*	Splunk, Inc		66,393
	29,597	*,e	Square, Inc		1,550
	210,928		SS&C Technologies Holdings, Inc		9,243
	304,798		Switch, Inc		4,398
	41,384	*	Synopsys, Inc		5,330
	4,189	*,e	Teradata Corp		86
	5,931	*,e	Trade Desk, Inc		1,145
	4,574	*	Twilio, Inc		409

270

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,418	*	Tyler Technologies, Inc	$	421
	2,649	*	VeriSign, Inc		477
	4,581,318	e	Visa, Inc (Class A)		738,142
	2,872	*,e	VMware, Inc (Class A)		348
	3,476	e	Western Union Co		63
	1,863	*	WEX, Inc		195
	66,956	*	Wix.com Ltd		6,751
	60,480	*	Workday, Inc		7,876
	4,170	*	Zendesk, Inc		267
	2,516	*,e	Zscaler, Inc		153
			TOTAL SOFTWARE & SERVICES		5,617,875
TECHNOLOGY HARDWARE & EQUIPMENT - 5.8%
	25,131		Amphenol Corp (Class A)		1,832
	4,157,665		Apple, Inc		1,057,253
	267,138	*	Arista Networks, Inc		54,109
	105,094		CDW Corp		9,802
	909,288		Cisco Systems, Inc		35,744
	6,134	e	Cognex Corp		259
	8,925		Corning, Inc		183
	4,791	*	Dell Technologies, Inc		189
	41,575		Dolby Laboratories, Inc (Class A)		2,254
	72,989	*	F5 Networks, Inc		7,783
	116		FLIR Systems, Inc		4
	152,841		HP, Inc		2,653
	161	*	IPG Photonics Corp		18
	1,790		Jabil Inc		44
	1,235,160	*	Keysight Technologies, Inc		103,358
	471,407	e	Motorola Solutions, Inc		62,659
	71,062		National Instruments Corp		2,351
	4,379	*	NCR Corp		78
	8,544		NetApp, Inc		356
	8,811	*	Pure Storage, Inc		108
	1,602	*	Trimble Inc		51
	292	e	Ubiquiti, Inc		41
	7,405	*	Zebra Technologies Corp (Class A)		1,360
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,342,489
TELECOMMUNICATION SERVICES - 0.0%
	6,077	*,e	T-Mobile US, Inc		510
			TOTAL TELECOMMUNICATION SERVICES		510
TRANSPORTATION - 1.5%
	1,862	e	Alaska Air Group, Inc		53
	1,495,654	e	American Airlines Group, Inc		18,232
	3,850	e	CH Robinson Worldwide, Inc		255
	9,958		CSX Corp		571
	100,380		Delta Air Lines, Inc		2,864
	4,527		Expeditors International of Washington, Inc		302
	975	e	JB Hunt Transport Services, Inc		90
	1,324	*,e	JetBlue Airways Corp		12
	558,378	e	Kansas City Southern		71,014
	1,335		Landstar System, Inc		128

271

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY					VALUE (000)
	883,871	*,e	Lyft, Inc (Class A)					$	23,732
	1,498		Norfolk Southern Corp						219
	1,535		Old Dominion Freight Line						201
	10,305		Southwest Airlines Co						367
	1,005,473	*,e	Spirit Airlines, Inc						12,961
	3,715,942	*	Uber Technologies, Inc						103,749
	621,421		Union Pacific Corp						87,645
	1,557	*,e	United Airlines Holdings Inc						49
	200,253		United Parcel Service, Inc (Class B)						18,708
	1,997	*	XPO Logistics, Inc						97
			TOTAL TRANSPORTATION						341,249
			TOTAL COMMON STOCKS						23,021,697
			(Cost $20,910,296)
PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 2.4%
GOVERNMENT AGENCY DEBT - 0.9%
$	10,000,000		Federal Farm Credit Bank (FFCB)		0.010	%	11/20/20		9,991
	27,522,000		Federal Home Loan Bank (FHLB)		0.040-0.150		05/28/20		27,519
	22,095,000		FHLB		0.010-0.100		06/01/20		22,092
	5,000,000		FHLB		0.120		07/09/20		4,999
	5,000,000		FHLB		0.030		07/27/20		4,998
	18,380,000		FHLB		0.030		09/01/20		18,370
	10,000,000		FHLB		0.060		10/01/20		9,993
	12,950,000		FHLB		0.070		10/13/20		12,940
	50,000,000		FHLB		0.010		01/19/21		49,935
	10,000,000		FHLB		0.010		03/08/21		9,984
	10,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.170		08/03/20		9,996
	8,005,000		Federal National Mortgage Association (FNMA)		0.050		10/16/20		7,999
	5,000,000		FNMA		0.250		09/23/20		4,997
			TOTAL GOVERNMENT AGENCY DEBT						193,813
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.5%
	356,550,662	c	State Street Navigator Securities Lending Government Money Market Portfolio						356,551
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						356,551
			TOTAL SHORT-TERM INVESTMENTS						550,364
			(Cost $550,409)
			TOTAL INVESTMENTS - 102.0%						23,572,061
			(Cost $21,460,705)
			OTHER ASSETS & LIABILITIES, NET - (2.0)%						(452,112	)
			NET ASSETS - 100.0%					$	23,119,949

272

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

	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 $378,280,292.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/20, the aggregate value of these securities is $274,766,786 or 1.2% of net assets.
	Cost amounts are in thousands.

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND

EQUITY INDEX ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2020

	SHARES		COMPANY		VALUE (000)
COMMON STOCKS - 99.0%
AUTOMOBILES & COMPONENTS - 0.7%
	60,563	*,e	Adient plc	$	549
	60,325	*,e	American Axle & Manufacturing Holdings, Inc		218
	159,418		Aptiv plc		7,850
	117,898		BorgWarner, Inc		2,873
	15,097		Cooper Tire & Rubber Co		246
	12,534	*	Cooper-Standard Holding, Inc		129
	76,541		Dana Inc		598
	19,677	*	Dorman Products, Inc		1,088
	2,386,635	e	Ford Motor Co		11,527
	25,297	*	Fox Factory Holding Corp		1,063
	759,734		General Motors Co		15,787
	146,733		Gentex Corp		3,252
	26,543	*	Gentherm, Inc		833
	137,668	e	Goodyear Tire & Rubber Co		801
	99,714	e	Harley-Davidson, Inc		1,888
	17,506		LCI Industries, Inc		1,170
	34,172		Lear Corp		2,777
	36,302	*	Modine Manufacturing Co		118
	13,147	*,e	Motorcar Parts of America, Inc		165
	24,709		Spartan Motors, Inc		319
	15,087		Standard Motor Products, Inc		627
	20,247	*	Stoneridge, Inc		339
	28,062	*,e	Tenneco, Inc		101
	88,369	*	Tesla, Inc		46,305
	35,644	e	Thor Industries, Inc		1,503
	22,699	*,e	Visteon Corp		1,089
	22,457		Winnebago Industries, Inc		625
			TOTAL AUTOMOBILES & COMPONENTS		103,840
BANKS - 4.4%
	12,408		1st Source Corp		402
	4,570		ACNB Corp		137
	7,958		Allegiance Bancshares, Inc		192
	12,491	*	Amerant Bancorp Inc		192
	5,882		American National Bankshares, Inc		141
	38,500		Ameris Bancorp		915
	7,069		Ames National Corp		145
	8,428		Arrow Financial Corp		235
	63,418		Associated Banc-Corp		811
	14,762	*	Atlantic Capital Bancshares, Inc		175
	42,326		Atlantic Union Bankshares Corp		927
	43,167	*	Axos Financial, Inc		783
	31,112		Banc of California, Inc		249
	11,574		Bancfirst Corp		386
	62,103	e	BancorpSouth Bank		1,175
	3,732	e	Bank First Corp		209
	4,904,370		Bank of America Corp		104,120

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	11,787		Bank of Commerce Holdings	$	93
	23,380		Bank of Hawaii Corp		1,291
	7,728		Bank of Marin Bancorp		232
	36,956		Bank of NT Butterfield & Son Ltd		629
	82,422		Bank OZK		1,376
	12,265		BankFinancial Corp		108
	56,051	e	BankUnited		1,048
	3,897		Bankwell Financial Group, Inc		59
	23,725		Banner Corp		784
	11,016		Bar Harbor Bankshares		190
	6,936	*	Baycom Corp		84
	7,059		BCB Bancorp, Inc		75
	26,834		Berkshire Hills Bancorp, Inc		399
	15,941	e	BOK Financial Corp		678
	59,217		Boston Private Financial Holdings, Inc		423
	13,328		Bridge Bancorp, Inc		282
	54,590		Brookline Bancorp, Inc		616
	12,987		Bryn Mawr Bank Corp		369
	6,436		Business First Bancshares, Inc		87
	5,576		Byline Bancorp, Inc		58
	2,353		C&F Financial Corp		94
	65,383		Cadence BanCorp		428
	2,502	e	Cambridge Bancorp		130
	11,436		Camden National Corp		360
	9,158	e	Capital City Bank Group, Inc		184
	92,364	e	Capitol Federal Financial		1,072
	5,956		Capstar Financial Holdings, Inc		59
	10,298		Carolina Financial Corp		266
	14,623		Carter Bank & Trust		134
	40,414		Cathay General Bancorp		927
	12,633		CBTX, Inc		224
	62,898		Centerstate Banks of Florida, Inc		1,084
	21,511		Central Pacific Financial Corp		342
	6,214		Central Valley Community Bancorp		81
	2,245		Century Bancorp, Inc		140
	2,189	e	Chemung Financial Corp		72
	49,642		CIT Group, Inc		857
	1,291,332		Citigroup, Inc		54,391
	9,568		Citizens & Northern Corp		191
	271,702		Citizens Financial Group, Inc		5,111
	10,955	e	City Holding Co		729
	7,262	e	Civista Bancshares, Inc		109
	9,772		CNB Financial Corp		184
	6,775		Codorus Valley Bancorp, Inc		109
	51,998	e	Columbia Banking System, Inc		1,394
	33,673	*	Columbia Financial, Inc		485
	95,573		Comerica, Inc		2,804
	61,969		Commerce Bancshares, Inc		3,120
	35,397	e	Community Bank System, Inc		2,081
	15,668		Community Bankers Trust Corp		76
	2,846		Community Financial Corp		63
	11,638		Community Trust Bancorp, Inc		370
	21,722		ConnectOne Bancorp, Inc		292
	29,153	*	CrossFirst Bankshares, Inc		245

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	38,938	e	Cullen/Frost Bankers, Inc	$	2,172
	19,196	*	Customers Bancorp, Inc		210
	75,634		CVB Financial Corp		1,516
	23,810		Dime Community Bancshares		326
	22,688		Eagle Bancorp, Inc		685
	93,759	e	East West Bancorp, Inc		2,413
	6,481		Enterprise Bancorp, Inc		175
	16,077	e	Enterprise Financial Services Corp		449
	7,477	*	Equity Bancshares, Inc		129
	6,121		ESSA Bancorp, Inc		84
	55,323		Essent Group Ltd		1,457
	3,168		Evans Bancorp, Inc		77
	6,654	e	Farmers & Merchants Bancorp, Inc		172
	18,150	e	Farmers National Banc Corp		211
	4,563	e	FB Financial Corp		90
	6,481		Federal Agricultural Mortgage Corp (Class C)		361
	435,998		Fifth Third Bancorp		6,475
	10,211		Financial Institutions, Inc		185
	20,427		First Bancorp (NC)		471
	114,850		First Bancorp (Puerto Rico)		611
	6,485	e	First Bancorp, Inc		143
	6,018		First Bancshares, Inc		115
	26,747	e	First Busey Corp		458
	6,176		First Business Financial Services, Inc		96
	3,874	e	First Citizens Bancshares, Inc (Class A)		1,290
	69,402		First Commonwealth Financial Corp		634
	12,139		First Community Bancshares, Inc		283
	28,197		First Defiance Financial Corp		416
	68,200		First Financial Bancorp		1,017
	92,318		First Financial Bankshares, Inc		2,478
	8,330		First Financial Corp		281
	6,257		First Financial Northwest, Inc		63
	19,660		First Foundation, Inc		201
	3,324		First Guaranty Bancshares, Inc		48
	71,845		First Hawaiian, Inc		1,188
	181,409		First Horizon National Corp		1,462
	4,089		First Internet Bancorp		67
	18,329		First Interstate Bancsystem, Inc		529
	29,933		First Merchants Corp		793
	7,120		First Mid-Illinois Bancshares, Inc		169
	73,424	e	First Midwest Bancorp, Inc		972
	7,602		First Northwest Bancorp		83
	15,462		First of Long Island Corp		268
	107,798	e	First Republic Bank		8,870
	15,789		Flagstar Bancorp, Inc		313
	20,105		Flushing Financial Corp		269
	181,165		FNB Corp		1,335
	8,854		Franklin Financial Network, Inc		180
	84,379	e	Fulton Financial Corp		969
	14,703		German American Bancorp, Inc		404
	55,696		Glacier Bancorp, Inc		1,894
	7,809		Great Southern Bancorp, Inc		315
	23,192		Great Western Bancorp, Inc		475
	2,003		Greene County Bancorp, Inc		47

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,224		Guaranty Bancshares, Inc	$	28
	47,878		Hancock Whitney Corp		935
	23,963		Hanmi Financial Corp		260
	16,668	*	HarborOne Northeast Bancorp, Inc		125
	17,800		Heartland Financial USA, Inc		538
	25,661		Heritage Commerce Corp		197
	22,188		Heritage Financial Corp		444
	54,190		Hilltop Holdings, Inc		819
	997		Hingham Institution for Savings		145
	4,264		Home Bancorp, Inc		104
	81,882	e	Home Bancshares, Inc		982
	15,022		HomeStreet, Inc		334
	13,541		HomeTrust Bancshares, Inc		216
	38,615		Hope Bancorp, Inc		317
	23,268		Horizon Bancorp		229
	6,001	*	Howard Bancorp, Inc		65
	617,910		Huntington Bancshares, Inc		5,073
	35,117		IBERIABANK Corp		1,270
	23,332	e	Independent Bank Corp (MA)		1,502
	17,558		Independent Bank Corp (MI)		226
	20,253	e	Independent Bank Group, Inc		480
	40,567		International Bancshares Corp		1,090
	5,550		Investar Holding Corp		71
	133,839		Investors Bancorp, Inc		1,069
	1,913,507		JPMorgan Chase & Co		172,273
	83,674		Kearny Financial Corp		719
	613,053		Keycorp		6,357
	32,502		Lakeland Bancorp, Inc		351
	18,387	e	Lakeland Financial Corp		676
	6,780		LCNB Corp		85
	4,628	*,e	LendingTree, Inc		849
	14,926		Live Oak Bancshares, Inc		186
	81,224		M&T Bank Corp		8,401
	19,210		Macatawa Bank Corp		137
	4,666	*	Malvern Bancorp, Inc		57
	12,428		Mercantile Bank Corp		263
	10,918		Merchants Bancorp		166
	35,757		Meridian Bancorp, Inc		401
	20,574		Meta Financial Group, Inc		447
	4,420	*	Metropolitan Bank Holding Corp		119
	210,298		MGIC Investment Corp		1,335
	10,800		Midland States Bancorp, Inc		189
	7,821		MidWestOne Financial Group, Inc		164
	34,360	*	Mr Cooper Group, Inc		252
	3,816		MutualFirst Financial, Inc		108
	19,324		National Bank Holdings Corp		462
	5,351		National Bankshares, Inc		171
	31,726		NBT Bancorp, Inc		1,028
	262,028		New York Community Bancorp, Inc		2,460
	6,480	*,e	Nicolet Bankshares, Inc		354
	38,864	*	NMI Holdings, Inc		451
	5,235		Northeast Bank		61
	33,024		Northfield Bancorp, Inc		370
	5,019		Northrim BanCorp, Inc		135

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	30,062	e	Northwest Bancshares, Inc	$	348
	4,425	e	Norwood Financial Corp		118
	30,487		OceanFirst Financial Corp		485
	33,903		OFG Bancorp		379
	3,155	e	Ohio Valley Banc Corp		95
	90,192		Old National Bancorp		1,190
	21,667		Old Second Bancorp, Inc		150
	14,808		Opus Bank		257
	11,057		Origin Bancorp, Inc		224
	5,318		Orrstown Financial Services, Inc		73
	11,579	*	Pacific Mercantile Bancorp		55
	28,237		Pacific Premier Bancorp, Inc		532
	66,007		PacWest Bancorp		1,183
	4,350	e	Park National Corp		338
	4,594		Parke Bancorp, Inc		62
	13,465		PCSB Financial Corp		188
	11,582		Peapack Gladstone Financial Corp		208
	4,446		Penns Woods Bancorp, Inc		108
	9,540	e	PennyMac Financial Services, Inc		211
	3,256		Peoples Bancorp of North Carolina, Inc		66
	12,623		Peoples Bancorp, Inc		280
	5,712		Peoples Financial Services Corp		227
	285,202	e	People’s United Financial, Inc		3,151
	9,341		People’s Utah Bancorp		181
	41,191		Pinnacle Financial Partners, Inc		1,546
	263,938		PNC Financial Services Group, Inc		25,264
	51,633		Popular, Inc		1,807
	8,859		Preferred Bank		300
	8,456		Premier Financial Bancorp, Inc		105
	57,871	e	Prosperity Bancshares, Inc		2,792
	6,589	*	Provident Bancorp Inc		57
	18,723		Provident Financial Services, Inc		241
	6,101		Prudential Bancorp, Inc		90
	8,729		QCR Holdings, Inc		236
	122,609		Radian Group, Inc		1,588
	9,265		RBB Bancorp		127
	603,973		Regions Financial Corp		5,418
	4,712	e	Reliant Bancorp Inc		53
	30,881		Renasant Corp		674
	6,104		Republic Bancorp, Inc (Class A)		202
	34,776	*	Republic First Bancorp, Inc		76
	13,238		Riverview Bancorp, Inc		66
	25,676		S&T Bancorp, Inc		701
	22,606		Sandy Spring Bancorp, Inc		512
	28,631	*	Seacoast Banking Corp of Florida		524
	32,848		ServisFirst Bancshares, Inc		963
	8,913		Shore Bancshares, Inc		97
	8,919		Sierra Bancorp		157
	34,007		Signature Bank		2,734
	55,218		Simmons First National Corp (Class A)		1,016
	5,382		SmartFinancial, Inc		82
	24,776		South State Corp		1,455
	4,079	*	Southern First Bancshares, Inc		116
	4,139		Southern Missouri Bancorp, Inc		100

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	8,140		Southern National Bancorp of Virginia, Inc	$	80
	20,042	e	Southside Bancshares, Inc		609
	11,631		Sterling Bancorp, Inc		50
	123,313		Sterling Bancorp/DE		1,289
	16,305		Stock Yards Bancorp, Inc		472
	6,101		Summit Financial Group, Inc		129
	30,747	*,e	SVB Financial Group		4,645
	85,330		Synovus Financial Corp		1,498
	93,245	e	TCF Financial Corp		2,113
	5,870		Territorial Bancorp, Inc		144
	35,836	*	Texas Capital Bancshares, Inc		794
	34,383		TFS Financial Corp		525
	35,393	*	The Bancorp, Inc		215
	4,645		Timberland Bancorp, Inc		85
	10,641		Tompkins Financial Corp		764
	46,422		Towne Bank		840
	19,212		Trico Bancshares		573
	16,178	*	Tristate Capital Holdings, Inc		156
	10,668	*	Triumph Bancorp, Inc		277
	823,330		Truist Financial Corp		25,391
	71,043		Trustco Bank Corp NY		384
	49,168	e	Trustmark Corp		1,146
	26,057		UMB Financial Corp		1,208
	161,706		Umpqua Holdings Corp		1,763
	2,885	e	Union Bankshares, Inc		65
	72,013	e	United Bankshares, Inc		1,662
	51,942		United Community Banks, Inc		951
	9,461		United Security Bancshares		61
	5,346		Unity Bancorp, Inc		63
	19,117		Univest Financial Corp		312
	849,200		US Bancorp		29,255
	196,375		Valley National Bancorp		1,435
	22,054		Veritex Holdings, Inc		308
	19,235		Walker & Dunlop, Inc		775
	50,737	e	Washington Federal, Inc		1,317
	10,818		Washington Trust Bancorp, Inc		395
	19,189		Waterstone Financial, Inc		279
	67,195		Webster Financial Corp		1,539
	2,284,772	e	Wells Fargo & Co		65,573
	40,789		WesBanco, Inc		967
	11,970		West Bancorporation, Inc		196
	18,981		Westamerica Bancorporation		1,116
	57,400		Western Alliance Bancorp		1,757
	19,137		Western New England Bancorp, Inc		129
	38,890		Wintrust Financial Corp		1,278
	37,123		WSFS Financial Corp		925
	106,318		Zions Bancorporation		2,845
			TOTAL BANKS		677,784
CAPITAL GOODS - 6.1%
	344,463		3M Co		47,023
	79,946		A.O. Smith Corp		3,023
	21,498	e	Aaon, Inc		1,039
	23,226		AAR Corp		412

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	24,498		Acuity Brands, Inc	$	2,099
	24,758		Advanced Drainage Systems, Inc		729
	93,206	*	Aecom Technology Corp		2,782
	24,436	*	Aegion Corp		438
	39,078	*,e	Aerojet Rocketdyne Holdings, Inc		1,635
	14,335	*	Aerovironment, Inc		874
	32,215		AGCO Corp		1,522
	56,080	e	Air Lease Corp		1,242
	6,904	e	Alamo Group, Inc		613
	21,082		Albany International Corp (Class A)		998
	58,342		Allegion plc		5,369
	4,493		Allied Motion Technologies, Inc		106
	54,284		Allison Transmission Holdings, Inc		1,770
	41,492		Altra Industrial Motion Corp		726
	13,776	*	Ameresco, Inc		235
	10,171	*	American Woodmark Corp		463
	134,640		Ametek, Inc		9,697
	20,270		Apogee Enterprises, Inc		422
	27,154		Applied Industrial Technologies, Inc		1,241
	30,718		Arcosa, Inc		1,221
	10,471	e	Argan, Inc		362
	17,658	*	Armstrong Flooring, Inc		25
	26,334		Armstrong World Industries, Inc		2,091
	15,250		Astec Industries, Inc		533
	15,755	*	Astronics Corp		145
	23,836	*	Atkore International Group, Inc		502
	35,579	*	Axon Enterprise, Inc		2,518
	19,364		AZZ, Inc		545
	25,595		Barnes Group, Inc		1,071
	41,684	*	Beacon Roofing Supply, Inc		689
	35,611	*,e	Bloom Energy Corp		186
	3,946	*,e	Blue Bird Corp		43
	6,034	*,e	BlueLinx Holdings, Inc		30
	47,040	*	BMC Stock Holdings, Inc		834
	327,453		Boeing Co		48,836
	30,438	e	Briggs & Stratton Corp		55
	67,070	*	Builders FirstSource, Inc		820
	56,807		BWX Technologies, Inc		2,767
	14,163	e	Caesarstone Sdot-Yam Ltd		150
	8,775	*	CAI International, Inc		124
	32,304		Carlisle Cos, Inc		4,047
	326,598		Caterpillar, Inc		37,898
	22,344	*	Chart Industries, Inc		648
	12,045	*	CIRCOR International, Inc		140
	64,286	*,e	Colfax Corp		1,273
	14,727		Columbus McKinnon Corp		368
	24,840		Comfort Systems USA, Inc		908
	18,016	*	Commercial Vehicle Group, Inc		27
	29,151	*	Cornerstone Building Brands, Inc		133
	28,721		Crane Co		1,413
	10,574		CSW Industrials, Inc		686
	18,660		Cubic Corp		771
	89,283		Cummins, Inc		12,082
	26,243		Curtiss-Wright Corp		2,425

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	171,708		Deere & Co	$	23,723
	71,161		Donaldson Co, Inc		2,749
	16,771		Douglas Dynamics, Inc		596
	86,001		Dover Corp		7,219
	8,048	*	Ducommun, Inc		200
	11,117	*	DXP Enterprises, Inc		136
	16,954	*,e	Dycom Industries, Inc		435
	3,733		Eastern Co		73
	254,680		Eaton Corp		19,786
	28,208		EMCOR Group, Inc		1,730
	384,759		Emerson Electric Co		18,334
	15,305		Encore Wire Corp		643
	11,608	*,e	Energous Corp		9
	24,905	*,e	Energy Recovery, Inc		185
	43,959		Enerpac Tool Group Corp		728
	31,570		EnerSys		1,563
	15,803		EnPro Industries, Inc		625
	18,556		ESCO Technologies, Inc		1,409
	2,576	*,e	EVI Industries, Inc		41
	51,314	*	Evoqua Water Technologies Corp		575
	358,314		Fastenal Co		11,197
	42,557		Federal Signal Corp		1,161
	82,555	e	Flowserve Corp		1,972
	91,070		Fluor Corp		629
	180,761		Fortive Corp		9,976
	88,532		Fortune Brands Home & Security, Inc		3,829
	9,256	*	Foundation Building Materials, Inc		95
	25,145		Franklin Electric Co, Inc		1,185
	30,738	*,e	Gates Industrial Corp plc		227
	20,759	e	GATX Corp		1,299
	4,980	*	Gencor Industries, Inc		52
	36,885	*	Generac Holdings, Inc		3,437
	156,851		General Dynamics Corp		20,753
	5,328,547		General Electric Co		42,309
	22,869	*	Gibraltar Industries, Inc		982
	17,148	*	GMS, Inc		270
	14,132		Gorman-Rupp Co		441
	92,773		Graco, Inc		4,521
	26,067	e	GrafTech International Ltd		212
	7,763		Graham Corp		100
	33,088	e	Granite Construction, Inc		502
	44,924	*	Great Lakes Dredge & Dock Corp		373
	19,838	e	Greenbrier Cos, Inc		352
	20,793	e	Griffon Corp		263
	23,777	e	H&E Equipment Services, Inc		349
	59,172	*	Harsco Corp		412
	90,220	*	HD Supply Holdings, Inc		2,565
	26,390		HEICO Corp		1,969
	46,469		HEICO Corp (Class A)		2,969
	16,194		Helios Technologies, Inc		614
	17,889	*	Herc Holdings, Inc		366
	57,257		Hexcel Corp		2,129
	34,596		Hillenbrand, Inc		661
	442,367		Honeywell International, Inc		59,184

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	229,339		Howmet Aerospace, Inc	$	3,683
	34,474		Hubbell, Inc		3,956
	23,249		Huntington Ingalls		4,236
	4,796		Hurco Cos, Inc		140
	7,224	e	Hyster-Yale Materials Handling, Inc		290
	46,427		IDEX Corp		6,412
	5,334	*	IES Holdings, Inc		94
	196,084		Illinois Tool Works, Inc		27,867
	201,626	*	Ingersoll Rand, Inc		5,000
	13,472		Insteel Industries, Inc		179
	53,134	e	ITT, Inc		2,410
	79,466		Jacobs Engineering Group, Inc		6,299
	47,393	*	JELD-WEN Holding, Inc		461
	16,888		John Bean Technologies Corp		1,254
	483,610		Johnson Controls International plc		13,038
	8,084		Kadant, Inc		603
	17,941		Kaman Corp		690
	56,290		Kennametal, Inc		1,048
	50,983	*	Kratos Defense & Security Solutions, Inc		706
	134,872		L3Harris Technologies, Inc		24,293
	4,456	*	Lawson Products, Inc		119
	5,677	*	LB Foster Co (Class A)		70
	20,121		Lennox International, Inc		3,658
	36,237	e	Lincoln Electric Holdings, Inc		2,500
	7,273		Lindsay Corp		666
	152,502		Lockheed Martin Corp		51,691
	17,575		Luxfer Holdings plc		249
	12,223	*	Lydall, Inc		79
	22,630	*	Manitowoc Co, Inc		192
	174,762		Masco Corp		6,042
	18,516	*	Masonite International Corp		879
	38,304	*,e	Mastec, Inc		1,254
	38,365	e	Maxar Technologies, Inc		410
	33,690	*	Mercury Systems, Inc		2,403
	34,734	*	Meritor, Inc		460
	30,281	*,e	Middleby Corp		1,722
	7,280		Miller Industries, Inc		206
	15,909		Moog, Inc (Class A)		804
	64,419	*,e	MRC Global, Inc		274
	25,456	e	MSC Industrial Direct Co (Class A)		1,399
	40,743		Mueller Industries, Inc		975
	104,855		Mueller Water Products, Inc (Class A)		840
	10,993	*	MYR Group, Inc		288
	3,534		National Presto Industries, Inc		250
	35,673	*	Navistar International Corp		588
	19,066	e	NN, Inc		33
	33,227		Nordson Corp		4,488
	96,137		Northrop Grumman Corp		29,086
	6,891	*	Northwest Pipe Co		153
	78,206	*	NOW, Inc		404
	5,211	*	NV5 Global Inc		215
	87,536		nVent Electric plc		1,477
	2,354	e	Omega Flex, Inc		199
	38,204		Oshkosh Corp		2,458

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	65,515		Owens Corning, Inc	$	2,543
	209,173		PACCAR, Inc		12,787
	78,406		Parker-Hannifin Corp		10,172
	12,058	*	Parsons Corp		385
	17,097		Patrick Industries, Inc		481
	96,376		Pentair plc		2,868
	36,380	*	PGT, Inc		305
	159,236	*,e	Plug Power, Inc		564
	7,077		Powell Industries, Inc		182
	1,801		Preformed Line Products Co		90
	28,783		Primoris Services Corp		458
	18,284	*	Proto Labs, Inc		1,392
	25,291		Quanex Building Products Corp		255
	75,730		Quanta Services, Inc		2,403
	25,955		Raven Industries, Inc		551
	170,682		Raytheon Co		22,385
	16,634	*	RBC Bearings, Inc		1,876
	25,203	e	Regal-Beloit Corp		1,587
	82,950	*,e	Resideo Technologies, Inc		401
	8,757	e	REV Group, Inc		37
	56,852		Rexnord Corp		1,289
	71,860		Rockwell Automation, Inc		10,844
	61,829		Roper Technologies Inc		19,279
	21,510		Rush Enterprises, Inc (Class A)		687
	4,597		Rush Enterprises, Inc (Class B)		140
	88,808	*	Sensata Technologies Holding plc		2,569
	29,530		Simpson Manufacturing Co, Inc		1,830
	24,415	*,e	SiteOne Landscape Supply, Inc		1,797
	30,839		Snap-On, Inc		3,356
	66,489		Spirit Aerosystems Holdings, Inc (Class A)		1,591
	30,406	*	SPX Corp		992
	29,148	*	SPX FLOW, Inc		828
	8,333		Standex International Corp		408
	94,914		Stanley Black & Decker, Inc		9,491
	18,886	*	Sterling Construction Co, Inc		179
	60,603	*	Sunrun, Inc		612
	9,938		Systemax, Inc		176
	22,563	*	Teledyne Technologies, Inc		6,707
	12,744		Tennant Co		739
	35,787		Terex Corp		514
	18,852	*,e	Textainer Group Holdings Ltd		155
	143,403	e	Textron, Inc		3,825
	24,419	*	Thermon Group Holdings		368
	37,983		Timken Co		1,228
	33,155		Titan International, Inc		51
	11,613	*	Titan Machinery, Inc		101
	65,756		Toro Co		4,280
	7,431	*,e	TPI Composites, Inc		110
	146,429		Trane Technologies plc		12,094
	30,383		TransDigm Group, Inc		9,728
	35,201	*,e	Trex Co, Inc		2,821
	34,233	*	Trimas Corp		791
	63,620	e	Trinity Industries, Inc		1,022
	30,588		Triton International Ltd		791

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	32,779		Triumph Group, Inc	$	222
	27,269	*	Tutor Perini Corp		183
	6,567	*,e	Twin Disc, Inc		46
	44,924	*	United Rentals, Inc		4,623
	498,994	e	United Technologies Corp		47,070
	107,143	*,e	Univar Solutions Inc		1,149
	31,994		Universal Forest Products, Inc		1,190
	10,628	e	Valmont Industries, Inc		1,126
	7,860	*	Vectrus, Inc		325
	7,828	*	Veritiv Corp		62
	12,845	*	Vicor Corp		572
	15,334	*,e	Vivint Solar, Inc		67
	27,309		W.W. Grainger, Inc		6,786
	42,603	e	Wabash National Corp		308
	31,460	*	WABCO Holdings, Inc		4,249
	115,379	e	Wabtec Corp		5,553
	18,257	e	Watsco, Inc		2,885
	18,825		Watts Water Technologies, Inc (Class A)		1,594
	88,290	*	Welbilt, Inc		453
	24,346	*	WESCO International, Inc		556
	3,392	*	Willis Lease Finance Corp		90
	22,097	*	Willscot Corp		224
	30,482		Woodward Inc		1,812
	107,015		Xylem, Inc		6,970
			TOTAL CAPITAL GOODS		939,358
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	40,285		ABM Industries, Inc		981
	37,820	*	Acacia Research (Acacia Technologies)		84
	9,390		ACCO Brands Corp		47
	5,238	e	ADT, Inc		23
	31,552	*	Advanced Disposal Services, Inc		1,035
	27,574	*	ASGN Inc		974
	5,145		Barrett Business Services, Inc		204
	4,266	e	BG Staffing, Inc		32
	33,472		Brady Corp (Class A)		1,511
	16,522	*,e	BrightView Holdings, Inc		183
	33,001		Brink’s Co		1,718
	29,675	*	Casella Waste Systems, Inc (Class A)		1,159
	35,493	*	CBIZ, Inc		743
	18,496	*	Ceco Environmental Corp		86
	14,958	*,e	Cimpress plc		796
	50,811		Cintas Corp		8,801
	30,748	*	Clean Harbors, Inc		1,579
	121,043	*	Copart, Inc		8,294
	21,895	*,e	CoStar Group, Inc		12,857
	84,474	e	Covanta Holding Corp		722
	7,013		CRA International, Inc		234
	27,694		Deluxe Corp		718
	11,002	*	Emerald Holding, Inc		29
	20,052	e	Ennis, Inc		377
	72,290		Equifax, Inc		8,635
	29,463		Exponent, Inc		2,119
	7,582	*	Forrester Research, Inc		222

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	7,620	*	Franklin Covey Co	$	118
	21,634	*	FTI Consulting, Inc		2,591
	9,864	*	GP Strategies Corp		64
	49,914	e	Healthcare Services Group		1,193
	14,300		Heidrick & Struggles International, Inc		322
	8,893	*	Heritage-Crystal Clean, Inc		144
	28,968		Herman Miller, Inc		643
	31,637	e	HNI Corp		797
	15,850	*	Huron Consulting Group, Inc		719
	88,200	*	IAA, Inc		2,642
	13,124		ICF International, Inc		902
	240,754		IHS Markit Ltd		14,445
	32,837	*	Innerworkings, Inc		38
	25,976	e	Insperity, Inc		969
	44,581		Interface, Inc		337
	88,200	e	KAR Auction Services, Inc		1,058
	20,372		Kelly Services, Inc (Class A)		259
	18,302		Kforce, Inc		468
	25,171		Kimball International, Inc (Class B)		300
	35,963		Knoll, Inc		371
	37,013		Korn/Ferry International		900
	31,415		Manpower, Inc		1,665
	22,585		Matthews International Corp (Class A)		546
	17,061		McGrath RentCorp		894
	13,300	*	Mistras Group, Inc		57
	31,645		Mobile Mini, Inc		830
	19,573	e	MSA Safety, Inc		1,981
	219,281	e	Nielsen NV		2,750
	4,961		NL Industries, Inc		15
	133,127	e	Pitney Bowes, Inc		272
	207,403	*,e	Precigen, Inc		705
	21,796	e	Quad Graphics, Inc		55
	128,270		Republic Services, Inc		9,628
	20,546		Resources Connection, Inc		225
	69,302		Robert Half International, Inc		2,616
	85,209		Rollins, Inc		3,079
	51,083	e	RR Donnelley & Sons Co		49
	12,140	*	SP Plus Corp		252
	61,807		Steelcase, Inc (Class A)		610
	49,051	*,e	Stericycle, Inc		2,383
	20,907	*	Team, Inc		136
	33,999		Tetra Tech, Inc		2,401
	115,960		TransUnion		7,674
	22,121	*	TriNet Group, Inc		833
	346	*	TrueBlue, Inc		4
	11,006		Unifirst Corp		1,663
	16,280	*	US Ecology, Inc		495
	96,817		Verisk Analytics, Inc		13,494
	15,178		Viad Corp		322
	5,586		VSE Corp		92
	261,207		Waste Management, Inc		24,177
	5,398	*,e	Willdan Group, Inc		115
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		163,461

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
CONSUMER DURABLES & APPAREL - 1.2%
	15,286		Acushnet Holdings Corp	$	393
	39,523	*	American Outdoor Brands Corp		328
	7,681		Bassett Furniture Industries, Inc		42
	21,459	*	Beazer Homes USA, Inc		138
	44,121		Brunswick Corp		1,561
	69,841		Callaway Golf Co		714
	68,422	*	Capri Holdings Ltd		738
	27,877		Carter’s, Inc		1,832
	6,102	*	Cavco Industries, Inc		884
	13,611	*	Century Communities, Inc		198
	14,228		Clarus Corp		139
	13,474	e	Columbia Sportswear Co		940
	45,716	*	CROCS, Inc		777
	6,895		Culp, Inc		51
	16,069	*	Deckers Outdoor Corp		2,153
	210,614		DR Horton, Inc		7,161
	7,865		Escalade, Inc		47
	18,783		Ethan Allen Interiors, Inc		192
	5,531		Flexsteel Industries, Inc		61
	31,215	*,e	Fossil Group, Inc		103
	87,558		Garmin Ltd		6,563
	30,360	*,e	G-III Apparel Group Ltd		234
	74,136	*,e	GoPro, Inc		194
	16,535	*	Green Brick Partners, Inc		133
	6,360	e	Hamilton Beach Brands Holding Co		60
	201,239	e	Hanesbrands, Inc		1,584
	79,817		Hasbro, Inc		5,711
	15,207	*,e	Helen of Troy Ltd		2,190
	7,913		Hooker Furniture Corp		124
	13,822	*	Installed Building Products, Inc		551
	18,443	*,e	iRobot Corp		754
	3,583		Johnson Outdoors, Inc		225
	60,650		KB Home		1,098
	30,075	e	Kontoor Brands, Inc		577
	36,137		La-Z-Boy, Inc		743
	94,275		Leggett & Platt, Inc		2,515
	11,279		Lennar Corp (B Shares)		326
	170,462	e	Lennar Corp (Class A)		6,512
	12,635	*,e	LGI Homes, Inc		570
	7,210		Lifetime Brands, Inc		41
	73,784	*	Lululemon Athletica, Inc		13,986
	16,714	*	M/I Homes, Inc		276
	13,092	*	Malibu Boats, Inc		377
	8,407		Marine Products Corp		68
	13,690	*	MasterCraft Boat Holdings, Inc		100
	199,106	*,e	Mattel, Inc		1,754
	32,691		MDC Holdings, Inc		758
	17,511	*	Meritage Homes Corp		639
	37,671	*	Mohawk Industries, Inc		2,872
	11,320	e	Movado Group, Inc		134
	3,180		Nacco Industries, Inc (Class A)		89
	241,949		Newell Brands Inc		3,213
	718,229		Nike, Inc (Class B)		59,426

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	2,024	*	NVR, Inc	$	5,200
	11,750		Oxford Industries, Inc		426
	32,179		Polaris Inc		1,549
	157,608		Pulte Homes, Inc		3,518
	40,092		PVH Corp		1,509
	30,697	e	Ralph Lauren Corp		2,051
	79,579	*	Skechers U.S.A., Inc (Class A)		1,889
	32,514	*	Skyline Champion Corp		510
	45,047	*,e	Sonos, Inc		382
	60,523		Steven Madden Ltd		1,406
	12,383		Sturm Ruger & Co, Inc		630
	5,163		Superior Uniform Group, Inc		44
	169,760		Tapestry, Inc		2,198
	67,492	*	Taylor Morrison Home Corp		742
	26,761	*	Tempur Sealy International, Inc		1,170
	51,875		Toll Brothers, Inc		999
	20,867	*	TopBuild Corp		1,495
	65,578	*	TRI Pointe Homes, Inc		575
	28,980		Tupperware Brands Corp		47
	110,698	*,e	Under Armour, Inc (Class A)		1,020
	110,542	*	Under Armour, Inc (Class C)		891
	10,905	*	Unifi, Inc		126
	10,485	*	Universal Electronics, Inc		402
	16,444	*	Vera Bradley, Inc		68
	193,170		VF Corp		10,447
	41,550	*	Vista Outdoor, Inc		366
	37,439		Whirlpool Corp		3,212
	48,726		Wolverine World Wide, Inc		741
	11,211	*,e	YETI Holdings, Inc		219
	21,026	*,e	ZAGG, Inc		65
			TOTAL CONSUMER DURABLES & APPAREL		176,746
CONSUMER SERVICES - 1.8%
	33,727	*,e	Adtalem Global Education, Inc		904
	12,233	*	American Public Education, Inc		293
	143,934		ARAMARK Holdings Corp		2,874
	44,487		BBX Capital Corp		103
	769	*,e	Biglari Holdings, Inc (B Shares)		40
	15,173		BJ’s Restaurants, Inc		211
	44,145		Bloomin’ Brands, Inc		315
	61,116		Boyd Gaming Corp		881
	36,213	*	Bright Horizons Family Solutions		3,694
	25,489	e	Brinker International, Inc		306
	357,916	*,e	Caesars Entertainment Corp		2,419
	245,361	e	Carnival Corp		3,231
	11,838		Carriage Services, Inc		191
	27,792	*,e	Carrols Restaurant Group, Inc		51
	16,727	*	Century Casinos, Inc		40
	31,824	e	Cheesecake Factory		544
	60,816	*,e	Chegg, Inc		2,176
	15,595	*	Chipotle Mexican Grill, Inc (Class A)		10,205
	17,380	e	Choice Hotels International, Inc		1,064
	23,949		Churchill Downs, Inc		2,466
	12,474	*,e	Chuy’s Holdings, Inc		126

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	15,120	e	Cracker Barrel Old Country Store, Inc	$	1,258
	72,671		Darden Restaurants, Inc		3,958
	16,608		Dave & Buster’s Entertainment, Inc		217
	23,487	*	Del Taco Restaurants, Inc		81
	41,277	*	Denny’s Corp		317
	10,362	e	Dine Brands Global Inc.		297
	24,852		Domino’s Pizza, Inc		8,054
	43,999	*,e	Drive Shack, Inc		67
	49,730		Dunkin Brands Group, Inc		2,641
	14,501	*	El Pollo Loco Holdings, Inc		123
	44,594	*,e	Eldorado Resorts, Inc		642
	59,922		Extended Stay America, Inc		438
	20,469	*	Fiesta Restaurant Group, Inc		82
	54,509	*	frontdoor, Inc		1,896
	7,389	*	Golden Entertainment, Inc		49
	1,652		Graham Holdings Co		564
	32,189	*	Grand Canyon Education, Inc		2,456
	129,519		H&R Block, Inc		1,824
	49,665	*	Hilton Grand Vacations, Inc		783
	169,185		Hilton Worldwide Holdings, Inc		11,545
	76,812	*	Houghton Mifflin Harcourt Co		144
	24,452		Hyatt Hotels Corp		1,171
	76,027	e	International Game Technology plc		452
	10,324	*	J Alexander’s Holdings, Inc		40
	14,716	e	Jack in the Box, Inc		516
	26,055	*	K12, Inc		491
	210,331		Las Vegas Sands Corp		8,933
	62,559	*	Laureate Education, Inc		657
	10,890	*	Lindblad Expeditions Holdings, Inc		45
	170,976		Marriott International, Inc (Class A)		12,791
	28,647		Marriott Vacations Worldwide Corp		1,592
	465,312		McDonald’s Corp		76,939
	326,708	e	MGM Resorts International		3,855
	7,140	*	Monarch Casino & Resort, Inc		200
	2,378		Nathan’s Famous, Inc		145
	8,091	*,e	Noodles & Co		38
	125,150	*,e	Norwegian Cruise Line Holdings Ltd		1,372
	29,338	e	OneSpaWorld Holdings Ltd		119
	18,811		Papa John’s International, Inc		1,004
	76,441	*,e	Penn National Gaming, Inc		967
	46,334	*	Perdoceo Education Corp		500
	51,866	*	Planet Fitness, Inc		2,526
	10,854	*	PlayAGS, Inc		29
	16,455	*	Potbelly Corp		51
	6,547		RCI Hospitality Holdings, Inc		65
	11,433	*,e	Red Lion Hotels Corp		17
	9,211	*,e	Red Robin Gourmet Burgers, Inc		78
	48,687		Red Rock Resorts, Inc		416
	27,109	*,e	Regis Corp		160
	106,238	e	Royal Caribbean Cruises Ltd		3,418
	21,790		Ruth’s Hospitality Group Inc		146
	37,197	*,e	Scientific Games Corp (Class A)		361
	30,308	*,e	SeaWorld Entertainment, Inc		334
	108,167		Service Corp International		4,230

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	86,396	*	ServiceMaster Global Holdings, Inc	$	2,333
	15,620	*,e	Shake Shack, Inc		589
	48,601		Six Flags Entertainment Corp		609
	727,642		Starbucks Corp		47,835
	11,328		Strategic Education, Inc		1,583
	21,327	*,e	Target Hospitality Corp		42
	40,109	e	Texas Roadhouse, Inc (Class A)		1,656
	13,497	e	Twin River Worldwide Holdings Inc		176
	23,348		Vail Resorts, Inc		3,449
	134,006		Wendy’s		1,994
	21,048	e	Wingstop, Inc		1,678
	26,120	*	WW International Inc		442
	42,519	e	Wyndham Destinations, Inc		923
	58,768		Wyndham Hotels & Resorts, Inc		1,852
	63,559	e	Wynn Resorts Ltd		3,826
	223,272		Yum China Holdings, Inc		9,518
	184,086		Yum! Brands, Inc		12,615
			TOTAL CONSUMER SERVICES		284,348
DIVERSIFIED FINANCIALS - 3.2%
	31,723	e	Affiliated Managers Group, Inc		1,876
	21,134	e	AG Mortgage Investment Trust		58
	341,429		AGNC Investment Corp		3,612
	234,210		Ally Financial, Inc		3,380
	406,387		American Express Co		34,791
	73,461		Ameriprise Financial, Inc		7,528
	885,022		Annaly Capital Management, Inc		4,487
	70,479	e	Anworth Mortgage Asset Corp		80
	68,911		Apollo Commercial Real Estate Finance, Inc		511
	22,112		Ares Commercial Real Estate Corp		155
	41,515		Ares Management Corp		1,284
	16,506		Arlington Asset Investment Corp (Class A)		36
	26,163		ARMOUR Residential REIT, Inc		230
	32,135		Artisan Partners Asset Management, Inc		691
	8,796	*,e	Assetmark Financial Holdings, Inc		179
	4,316	e	Associated Capital Group, Inc		132
	10,240	e	B. Riley Financial, Inc		189
	21,466	e	Banco Latinoamericano de Exportaciones S.A. (Class E)		221
	491,706		Bank of New York Mellon Corp		16,561
	166,153	e	BGC Partners, Inc (Class A)		419
	72,864		BlackRock, Inc		32,058
	73,790	e	Blackstone Mortgage Trust, Inc		1,374
	30,473	*	Blucora, Inc		367
	40,173		Brightsphere Investment Group, Inc		257
	16,951	*,†	Calamos Asset Management, Inc		0	^
	48,331	*	Cannae Holdings, Inc		1,619
	287,089		Capital One Financial Corp		14,475
	71,072		Capstead Mortgage Corp		299
	68,387	e	CBOE Global Markets, Inc		6,104
	698,747		Charles Schwab Corp		23,492
	7,318		Cherry Hill Mortgage Investment Corp		45
	94,757		Chimera Investment Corp		862
	217,647		CME Group, Inc		37,633
	15,440	e	Cohen & Steers, Inc		702

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	56,629		Colony Credit Real Estate, Inc	$	223
	18,127	e	Cowen Group, Inc		175
	6,914	*,e	Credit Acceptance Corp		1,768
	7,834	e	Curo Group Holdings Corp		42
	2,179		Diamond Hill Investment Group, Inc		197
	185,611		Discover Financial Services		6,621
	19,156	*	Donnelley Financial Solutions, Inc		101
	11,107	e	Dynex Capital, Inc		116
	140,894		E*TRADE Financial Corp		4,835
	78,977		Eaton Vance Corp		2,547
	11,344	*	Elevate Credit, Inc		12
	17,423	e	Ellington Financial Inc		99
	17,368	*,e	Encore Capital Group, Inc		406
	23,911	*	Enova International, Inc		346
	29,096		Evercore Inc		1,340
	38,445	*,e	Ezcorp, Inc (Class A)		160
	24,832		Factset Research Systems, Inc		6,473
	68,886		Federated Investors, Inc (Class B)		1,312
	91,723	e	FGL Holdings		899
	30,190	e	FirstCash, Inc		2,166
	12,579	*,e	Focus Financial Partners, Inc		289
	181,317	e	Franklin Resources, Inc		3,026
	23,847	e	Gain Capital Holdings, Inc		133
	4,049		GAMCO Investors, Inc (Class A)		45
	196,709		Goldman Sachs Group, Inc		30,409
	31,227		Granite Point Mortgage Trust, Inc		158
	9,250	e	Great Ajax Corp		59
	33,057	*	Green Dot Corp		839
	19,893	e	Greenhill & Co, Inc		196
	10,099		Hamilton Lane, Inc		559
	25,893		Houlihan Lokey, Inc		1,350
	47,028		Interactive Brokers Group, Inc (Class A)		2,030
	340,300		Intercontinental Exchange Group, Inc		27,479
	11,369	*	INTL FCStone, Inc		412
	185,320	e	Invesco Ltd		1,683
	91,773		Invesco Mortgage Capital, Inc		313
	106,298	e	Janus Henderson Group plc		1,628
	149,295		Jefferies Financial Group, Inc		2,041
	7,773	e	KKR Real Estate Finance Trust, Inc		117
	49,932		Ladder Capital Corp		237
	61,713		Lazard Ltd (Class A)		1,454
	44,332		Legg Mason, Inc		2,166
	42,896	*,e	LendingClub Corp		337
	49,263		LPL Financial Holdings, Inc		2,681
	22,099		MarketAxess Holdings, Inc		7,349
	6,533		Marlin Business Services Corp		73
	270,747		MFA Financial Inc		420
	26,390	e	Moelis & Co		742
	101,510		Moody’s Corp		21,469
	713,900		Morgan Stanley		24,273
	10,131	e	Morningstar, Inc		1,178
	50,338		MSCI, Inc (Class A)		14,546
	70,673	e	Nasdaq Inc		6,710
	118,613		Navient Corp		899

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	14,990		Nelnet, Inc (Class A)	$	681
	231,837		New Residential Investment Corp		1,162
	75,449		New York Mortgage Trust, Inc		117
	22,218	*,†	NewStar Financial, Inc		5
	114,651		Northern Trust Corp		8,652
	36,046	*	On Deck Capital, Inc		56
	37,084	e	OneMain Holdings, Inc		709
	7,363		Oppenheimer Holdings, Inc		145
	23,694	e	Orchid Island Capital, Inc		70
	47,765		PennyMac Mortgage Investment Trust		507
	17,372	*	Pico Holdings, Inc		135
	10,272	e	Piper Jaffray Cos		519
	13,025	e	PJT Partners, Inc		565
	33,753	*	PRA Group, Inc		936
	9,591		Pzena Investment Management, Inc (Class A)		43
	73,024	e	Raymond James Financial, Inc		4,615
	10,497		Ready Capital Corp		76
	49,700		Redwood Trust, Inc		251
	8,577	*	Regional Management Corp		117
	151,648		S&P Global, Inc		37,161
	16,951		Safeguard Scientifics, Inc		94
	57,054		Santander Consumer USA Holdings, Inc		794
	10,879		Sculptor Capital Management, Inc		147
	76,466		SEI Investments Co		3,543
	5,338		Silvercrest Asset Management Group, Inc		51
	258,465		SLM Corp		1,858
	153,692	e	Starwood Property Trust, Inc		1,575
	218,783		State Street Corp		11,655
	38,350		Stifel Financial Corp		1,583
	397,632		Synchrony Financial		6,398
	138,706		T Rowe Price Group, Inc		13,545
	155,302		TD Ameritrade Holding Corp		5,383
	7,897	e	TPG RE Finance Trust, Inc		43
	174,270		Two Harbors Investment Corp		664
	18,355	e	Virtu Financial, Inc		382
	4,800		Virtus Investment Partners, Inc		365
	82,358		Voya Financial, Inc		3,340
	22,709	e	Waddell & Reed Financial, Inc (Class A)		258
	28,538		Western Asset Mortgage Capital Corp		65
	5,409		Westwood Holdings Group, Inc		99
	84,317		WisdomTree Investments, Inc		196
	4,248	*,e	World Acceptance Corp		232
			TOTAL DIVERSIFIED FINANCIALS		491,637
ENERGY - 2.4%
	109,725	*,e	Abraxas Petroleum Corp		13
	7,181		Amplify Energy Corp		4
	146,439	e	Antero Midstream Corp		308
	132,421	*,e	Antero Resources Corp		94
	241,520	e	Apache Corp		1,010
	52,623	*	Apergy Corp		303
	9,586	e	Arch Coal, Inc		277
	85,865		Archrock, Inc		323
	20,832		Ardmore Shipping Corp		109

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	408,098		Baker Hughes Co	$	4,285
	36,376		Berry Petroleum Co LLC		88
	14,562	*,e	Bonanza Creek Energy, Inc		164
	10,396	e	Brigham Minerals, Inc		86
	248,510		Cabot Oil & Gas Corp		4,272
	16,011		Cactus, Inc		186
	96,520	*,e	Callon Petroleum Co		53
	124,454	*	Centennial Resource Development, Inc		33
	146,135	*	Cheniere Energy, Inc		4,896
	550,015	*,e	Chesapeake Energy Corp		95
	1,176,355		Chevron Corp		85,239
	49,611		Cimarex Energy Co		835
	96,211	*	Clean Energy Fuels Corp		171
	128,347	*,e	CNX Resources Corp		683
	128,934		Concho Resources, Inc		5,525
	662,614		ConocoPhillips		20,409
	20,666	*,e	CONSOL Energy, Inc		76
	32,957	e	Continental Resources, Inc		252
	12,254	*,e	Contura Energy Inc		29
	22,043	*,e	Covia Holdings Corp		13
	11,149	e	CVR Energy, Inc		184
	26,329	e	Delek US Holdings, Inc		415
	280,409	*,e	Denbury Resources, Inc		52
	242,317		Devon Energy Corp		1,674
	55,111	e	DHT Holdings, Inc		423
	38,317	*,e	Diamond Offshore Drilling, Inc		70
	14,000	*,e	Diamond S Shipping Inc		165
	92,205		Diamondback Energy, Inc		2,416
	9,586		DMC Global, Inc		221
	20,589	*	Dorian LPG Ltd		179
	27,635	*	Dril-Quip, Inc		843
	7,121	*,e	Earthstone Energy, Inc		13
	56,201	*,e	Energy Fuels, Inc		66
	359,690		EOG Resources, Inc		12,920
	153,612		EQT Corp		1,086
	59,336	e	Equitrans Midstream Corp		298
	14,364	*	Era Group, Inc		77
	17,517		Evolution Petroleum Corp		46
	23,313	*	Exterran Corp		112
	87,596	*,e	Extraction Oil & Gas, Inc		37
	2,602,078	d	Exxon Mobil Corp		98,801
	24,885		Falcon Minerals Corp		53
	49,153	*,e	Forum Energy Technologies, Inc		9
	36,662	*	Frank’s International NV		95
	15,611	*,e	FTS International, Inc		3
	32,033	e	GasLog Ltd		116
	69,477	e	Golar LNG Ltd		547
	26,945	*,e	Green Plains Inc		131
	109,431	*,e	Gulfport Energy Corp		49
	10,340	e	Hallador Energy Co		10
	533,070		Halliburton Co		3,652
	100,808	*	Helix Energy Solutions Group, Inc		165
	52,744	e	Helmerich & Payne, Inc		825

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	170,660		Hess Corp	$	5,683
	21,135	*,e	HighPoint Resources Corp		4
	97,848		HollyFrontier Corp		2,398
	1,175	*,e	Independence Contract Drilling, Inc		2
	20,967		International Seaways, Inc		501
	1,205,687		Kinder Morgan, Inc		16,783
	11,654	*,e	KLX Energy Services Holdings, Inc		8
	234,852		Kosmos Energy Ltd		210
	117,588	*	Laredo Petroleum Holdings, Inc		45
	9,873	e	Liberty Oilfield Services, Inc		27
	65,268	*,e	Magnolia Oil & Gas Corp		261
	5,616	e	Mammoth Energy Services, Inc		4
	503,108		Marathon Oil Corp		1,655
	396,667		Marathon Petroleum Corp		9,369
	64,577	*,e	Matador Resources Co		160
	19,934	*	Matrix Service Co		189
	4,077	*,e	Montage Resources Corp		9
	114,242	e	Murphy Oil Corp		700
	203,104	e	Nabors Industries Ltd		79
	256,371	e	National Oilwell Varco, Inc		2,520
	9,713	*	Natural Gas Services Group, Inc		43
	63,344	*	Newpark Resources, Inc		57
	76,759	*	NexTier Oilfield Solutions, Inc		90
	5,415	*,e	Nine Energy Service, Inc		4
	165,932	*,e	Noble Corp plc		43
	214,973		Noble Energy, Inc		1,298
	68,002		Nordic American Tankers Ltd		308
	73,198	*,e	Northern Oil And Gas, Inc		49
	170,623	*	Oasis Petroleum, Inc		60
	567,154	e	Occidental Petroleum Corp		6,568
	71,446	*,e	Oceaneering International, Inc		210
	38,178	*	Oil States International, Inc		77
	254,378	e	ONEOK, Inc		5,548
	26,237	*	Overseas Shipholding Group, Inc		60
	10,734		Panhandle Oil and Gas, Inc (Class A)		40
	23,180	*	Par Pacific Holdings, Inc		165
	177,587	e	Parsley Energy, Inc		1,018
	150,779		Patterson-UTI Energy, Inc		354
	78,916		PBF Energy, Inc		559
	44,499	*,e	PDC Energy, Inc		276
	54,624	e	Peabody Energy Corp		158
	10,090	*,e	Penn Virginia Corp		31
	277,843	e	Phillips 66		14,906
	103,166		Pioneer Natural Resources Co		7,237
	48,018	*	ProPetro Holding Corp		120
	33,039		QEP Resources Inc		11
	139,657	e	Range Resources Corp		318
	27,182	*,e	Renewable Energy Group, Inc		558
	4,186	*	Rex American Resources Corp		195
	9,601	*	RigNet, Inc		17
	32,471	*,e	Ring Energy, Inc		21
	42,512	e	RPC, Inc		88
	24,071	*	SandRidge Energy, Inc		22
	870,156		Schlumberger Ltd		11,738

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	12,739		Scorpio Tankers, Inc	$	244
	11,768	*	SEACOR Holdings, Inc		317
	11,831	*	SEACOR Marine Holdings, Inc		52
	6,869	*	Select Energy Services, Inc		22
	45,041	e	SFL Corp Ltd		427
	4,694	*,e	SilverBow Resources, Inc		12
	80,594		SM Energy Co		98
	12,316	*,e	Smart Sand, Inc		13
	6,855	e	Solaris Oilfield Infrastructure, Inc		36
	264,381	*,e	Southwestern Energy Co		447
	13,911	*,e	Talos Energy, Inc		80
	141,390	e	Targa Resources Investments, Inc		977
	36,192	*,e	Teekay Corp		114
	10,678	*,e	Teekay Tankers Ltd		237
	39,279	*,e	Tellurian, Inc		35
	32,701	*	Tetra Technologies, Inc		10
	16,234	*	Tidewater, Inc		115
	343,005	*,e	Transocean Ltd (NYSE)		398
	36,980	*,e	Unit Corp		10
	95,169	*,e	Uranium Energy Corp		53
	58,687	e	US Silica Holdings, Inc		106
	246,390		Valero Energy Corp		11,176
	14,396	*,e	W&T Offshore, Inc		24
	779,453		Williams Cos, Inc		11,029
	29,960		World Fuel Services Corp		754
	284,313	*,e	WPX Energy, Inc		867
			TOTAL ENERGY		376,091
FOOD & STAPLES RETAILING - 1.5%
	19,849		Andersons, Inc		372
	22,168		Casey’s General Stores, Inc		2,937
	14,374	*,e	Chefs’ Warehouse Holdings, Inc		145
	270,239		Costco Wholesale Corp		77,053
	32,707	*,e	Grocery Outlet Holding Corp		1,123
	10,217	e	Ingles Markets, Inc (Class A)		369
	489,806		Kroger Co		14,753
	6,410	e	Natural Grocers by Vitamin C		54
	70,016	*	Performance Food Group Co		1,731
	14,866		Pricesmart, Inc		781
	38,176	*,e	Rite Aid Corp		573
	27,344		SpartanNash Co		392
	72,919	*	Sprouts Farmers Market, Inc		1,356
	295,000		SYSCO Corp		13,461
	36,929	*	United Natural Foods, Inc		339
	129,589	*	US Foods Holding Corp		2,295
	4,843		Village Super Market (Class A)		119
	460,091		Walgreens Boots Alliance, Inc		21,049
	854,508		Walmart, Inc		97,089
	4,684		Weis Markets, Inc		195
			TOTAL FOOD & STAPLES RETAILING		236,186
FOOD, BEVERAGE & TOBACCO - 3.6%
	78,794	*,e	22nd Century Group, Inc		59
	2,296		Alico, Inc		71

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	1,153,155		Altria Group, Inc	$	44,592
	342,679		Archer-Daniels-Midland Co		12,055
	48,393	e	B&G Foods, Inc (Class A)		875
	29,996	*,e	Beyond Meat, Inc		1,998
	4,644	*,e	Boston Beer Co, Inc (Class A)		1,707
	29,231		Brown-Forman Corp (Class A)		1,502
	102,748		Brown-Forman Corp (Class B)		5,704
	92,994		Bunge Ltd		3,816
	11,455	e	Calavo Growers, Inc		661
	22,629		Cal-Maine Foods, Inc		995
	99,585	e	Campbell Soup Co		4,597
	2,365,706		Coca-Cola Co		104,682
	3,092	e	Coca-Cola Consolidated Inc		645
	290,706		ConAgra Brands, Inc		8,529
	98,406		Constellation Brands, Inc (Class A)		14,107
	7,653	*,e	Craft Brewers Alliance, Inc		114
	96,358	*	Darling International, Inc		1,847
	5,320	*	Farmer Bros Co		37
	103,413	e	Flowers Foods, Inc		2,122
	20,613		Fresh Del Monte Produce, Inc		569
	15,781	*,e	Freshpet, Inc		1,008
	372,363		General Mills, Inc		19,650
	50,738	*	Hain Celestial Group, Inc		1,318
	90,196		Hershey Co		11,951
	163,534	e	Hormel Foods Corp		7,627
	57,996	*,e	Hostess Brands, Inc		618
	40,912	e	Ingredion, Inc		3,089
	10,369		J&J Snack Foods Corp		1,255
	67,954		J.M. Smucker Co		7,543
	5,780		John B. Sanfilippo & Son, Inc		517
	151,452		Kellogg Co		9,086
	146,471	e	Keurig Dr Pepper, Inc		3,555
	387,412		Kraft Heinz Co		9,585
	86,473		Lamb Weston Holdings, Inc		4,938
	13,060		Lancaster Colony Corp		1,889
	19,323	*	Landec Corp		168
	8,386		Limoneira Co		110
	73,868		McCormick & Co, Inc		10,431
	9,193	e	MGP Ingredients, Inc		247
	109,880		Molson Coors Brewing Co (Class B)		4,286
	876,655		Mondelez International, Inc		43,903
	230,397	*	Monster Beverage Corp		12,962
	8,574	*,e	National Beverage Corp		366
	46,743	*,e	New Age Beverages Corp		65
	860,754		PepsiCo, Inc		103,377
	953,026		Philip Morris International, Inc		69,533
	34,513	*	Pilgrim’s Pride Corp		625
	35,377	*	Post Holdings, Inc		2,935
	11,652		Sanderson Farms, Inc		1,437
	192		Seaboard Corp		540
	5,451	*	Seneca Foods Corp		217
	40,880	*,e	Simply Good Foods Co		787
	11,647	e	Tootsie Roll Industries, Inc		419
	29,630	*	TreeHouse Foods, Inc		1,308

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	4,760	e	Turning Point Brands, Inc	$	100
	176,288		Tyson Foods, Inc (Class A)		10,202
	5,645		Universal Corp		250
	53,131		Vector Group Ltd		500
			TOTAL FOOD, BEVERAGE & TOBACCO		559,681
HEALTH CARE EQUIPMENT & SERVICES - 6.8%
	1,061,992		Abbott Laboratories		83,802
	25,665	*	Abiomed, Inc		3,726
	56,824	*	Acadia Healthcare Co, Inc		1,043
	58,290	*	Accuray, Inc		111
	5,501	*,e	Addus HomeCare Corp		372
	46,444	*	Align Technology, Inc		8,079
	133,589	*	Allscripts Healthcare Solutions, Inc		940
	19,731	*	Amedisys, Inc		3,621
	6,596	*	American Renal Associates Holdings, Inc		44
	89,196		AmerisourceBergen Corp		7,894
	31,962	*	AMN Healthcare Services, Inc		1,848
	26,107	*	Angiodynamics, Inc		272
	104,354	*	Antares Pharma, Inc		246
	154,570		Anthem, Inc		35,094
	16,786	*,e	Apollo Medical Holdings, Inc		217
	22,609	*	AtriCure, Inc		759
	1,019	e	Atrion Corp		662
	33,829	*,e	Avanos Medical, Inc		911
	18,090	*,e	AxoGen, Inc		188
	9,978	*,e	Axonics Modulation Technologies, Inc		254
	298,853		Baxter International, Inc		24,264
	163,888		Becton Dickinson & Co		37,657
	19,708	*	BioTelemetry, Inc		759
	853,572	*	Boston Scientific Corp		27,852
	135,933	*	Brookdale Senior Living, Inc		424
	25,974	e	Cantel Medical Corp		932
	175,363		Cardinal Health, Inc		8,407
	23,626	*	Cardiovascular Systems, Inc		832
	45,319	*	Castlight Health, Inc		33
	351,312	*	Centene Corp		20,871
	185,847		Cerner Corp		11,706
	71,510	*	Cerus Corp		332
	138,891	*,e	Change Healthcare, Inc		1,387
	9,197		Chemed Corp		3,984
	226,130		Cigna Corp		40,066
	8,700		Computer Programs & Systems, Inc		194
	19,875		Conmed Corp		1,138
	30,380		Cooper Cos, Inc		8,375
	7,512	*	Corvel Corp		409
	39,829	*	Covetrus, Inc		324
	25,224	*	Cross Country Healthcare, Inc		170
	23,064	*	CryoLife, Inc		390
	16,944	*,e	CryoPort, Inc		289
	10,004	*	Cutera, Inc		131
	794,102		CVS Health Corp		47,114
	19,235	*,e	CytoSorbents Corp		149
	377,368		Danaher Corp		52,231

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	53,875	*	DaVita, Inc	$	4,098
	139,354		Dentsply Sirona, Inc		5,411
	54,958	*	DexCom, Inc		14,799
	126,817	*	Edwards Lifesciences Corp		23,920
	62,923		Encompass Health Corp		4,029
	35,447		Ensign Group, Inc		1,333
	90,976	*	Envista Holdings Corp		1,359
	27,058	*	Enzo Biochem, Inc		68
	45,708	*,e	Evolent Health, Inc		248
	28,070	*,e	Genesis Health Care, Inc		24
	30,765	*	GenMark Diagnostics, Inc		127
	20,642	*	Glaukos Corp		637
	48,523	*	Globus Medical, Inc		2,064
	22,258	*	Guardant Health, Inc		1,549
	31,065	*	Haemonetics Corp		3,096
	23,398	*	Hanger Inc		365
	167,326		HCA Healthcare, Inc		15,034
	11,667	*	Health Catalyst, Inc		305
	35,870	*	HealthEquity, Inc		1,815
	18,780	*	HealthStream, Inc		450
	91,104	*,e	Henry Schein, Inc		4,603
	4,605	*	Heska Corp		255
	42,299		Hill-Rom Holdings, Inc		4,255
	44,045	*	HMS Holdings Corp		1,113
	172,070	*	Hologic, Inc		6,040
	81,947		Humana, Inc		25,733
	10,885	*	ICU Medical, Inc		2,196
	52,304	*	IDEXX Laboratories, Inc		12,670
	12,244	*,e	Inogen, Inc		632
	43,464	*	Inovalon Holdings, Inc		724
	5,311	*	Inspire Medical Systems, Inc		320
	38,127	*	Insulet Corp		6,317
	22,691	*	Integer Holding Corp		1,426
	44,740	*	Integra LifeSciences Holdings Corp		1,999
	4,136	*,e	IntriCon Corp		49
	70,458	*	Intuitive Surgical, Inc		34,891
	23,110	e	Invacare Corp		172
	16,105	*,e	iRhythm Technologies, Inc		1,310
	59,597	*	Laboratory Corp of America Holdings		7,532
	18,233	*	Lantheus Holdings, Inc		233
	9,523		LeMaitre Vascular, Inc		237
	19,826	*	LHC Group, Inc		2,780
	33,006	*	LivaNova plc		1,493
	31,655	*,e	Livongo Health, Inc		903
	16,931	*	Magellan Health Services, Inc		815
	29,131	*	Masimo Corp		5,160
	98,231		McKesson Corp		13,287
	43,753	*	MEDNAX, Inc		509
	823,322		Medtronic plc		74,247
	31,965	*	Meridian Bioscience, Inc		268
	35,220	*	Merit Medical Systems, Inc		1,101
	2,255	e	Mesa Laboratories, Inc		510
	37,031	*,e	Molina Healthcare, Inc		5,174
	7,753		National Healthcare Corp		556

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	5,598	e	National Research Corp	$	255
	24,197	*	Natus Medical, Inc		560
	35,733	*	Neogen Corp		2,394
	19,942	*	Nevro Corp		1,994
	37,773	*	NextGen Healthcare, Inc		394
	54,721	*	Novocure Ltd		3,685
	36,380	*	NuVasive, Inc		1,843
	26,681	*	Omnicell, Inc		1,750
	21,564	*,e	Option Care Health, Inc		204
	40,487	*	OraSure Technologies, Inc		436
	12,159	*	Orthofix Medical Inc		341
	5,177	*,e	OrthoPediatrics Corp		205
	43,714		Owens & Minor, Inc		400
	57,408	e	Patterson Cos, Inc		878
	17,723	*	Pennant Group, Inc		251
	17,918	*	Penumbra, Inc		2,891
	5,304	*,e	PetIQ, Inc		123
	16,748	*	Phreesia, Inc		352
	42,075	*	PPD, Inc		749
	33,935	*	Premier, Inc		1,110
	8,662	*	Providence Service Corp		475
	6,666	*,e	Pulse Biosciences, Inc		48
	81,012		Quest Diagnostics, Inc		6,505
	20,943	*	Quidel Corp		2,048
	72,154	*,e	R1 RCM, Inc		656
	25,914	*	RadNet, Inc		272
	89,844		Resmed, Inc		13,233
	37,335	*,e	Rockwell Medical, Inc		77
	38,631	*	RTI Surgical Holdings Inc		66
	77,335	*	Select Medical Holdings Corp		1,160
	45,067	*,e	Senseonics Holdings, Inc		29
	4,272	*,e	Shockwave Medical Inc		142
	10,272	*	SI-BONE, Inc		123
	10,185	*	Sientra, Inc		20
	4,496	*,e	Silk Road Medical Inc		142
	7,680	e	Simulations Plus, Inc		268
	26,141	*	Staar Surgical Co		843
	54,225		STERIS plc		7,590
	212,081		Stryker Corp		35,309
	13,353	*,e	Surgery Partners, Inc		87
	10,275	*,e	SurModics, Inc		342
	6,560	*,e	Tabula Rasa HealthCare, Inc		343
	6,719	*	Tactile Systems Technology, Inc		270
	30,224	*	Tandem Diabetes Care, Inc		1,945
	44,411	*,e	Teladoc, Inc		6,884
	29,977		Teleflex, Inc		8,779
	59,665	*,e	Tenet Healthcare Corp		859
	30,967	*,e	Tivity Health, Inc		195
	18,960	*,e	Triple-S Management Corp (Class B)		267
	580,521		UnitedHealth Group, Inc		144,770
	49,159		Universal Health Services, Inc (Class B)		4,871
	9,158	e	US Physical Therapy, Inc		632
	2,349	e	Utah Medical Products, Inc		221
	7,211	*,e	Vapotherm, Inc		136

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	27,229	*	Varex Imaging Corp	$	618
	56,947	*	Varian Medical Systems, Inc		5,846
	81,875	*	Veeva Systems, Inc		12,803
	19,827	*,e	ViewRay, Inc		50
	20,093	*,e	Vocera Communications, Inc		427
	44,107		West Pharmaceutical Services, Inc		6,715
	76,096	*,e	Wright Medical Group NV		2,180
	127,431		Zimmer Biomet Holdings, Inc		12,881
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,042,686
HOUSEHOLD & PERSONAL PRODUCTS - 1.8%
	25,021	*	BellRing Brands, Inc		427
	7,431	*,e	Central Garden & Pet Co		204
	24,471	*	Central Garden and Pet Co (Class A)		626
	152,131		Church & Dwight Co, Inc		9,764
	77,743		Clorox Co		13,469
	516,596		Colgate-Palmolive Co		34,281
	215,270	e	Coty, Inc		1,111
	41,449	*	Edgewell Personal Care Co		998
	15,146	*	elf Beauty, Inc		149
	44,546	e	Energizer Holdings, Inc		1,347
	132,280		Estee Lauder Cos (Class A)		21,077
	69,622	*,e	Herbalife Nutrition Ltd		2,030
	12,258		Inter Parfums, Inc		568
	207,915		Kimberly-Clark Corp		26,586
	7,966	e	Medifast, Inc		498
	5,868	*	Nature’s Sunshine Products, Inc		48
	36,417		Nu Skin Enterprises, Inc (Class A)		796
	3,981		Oil-Dri Corp of America		133
	1,495,815		Procter & Gamble Co		164,540
	8,319	*,e	Revlon, Inc (Class A)		91
	29,272		Reynolds Consumer Products Inc		854
	27,100	e	Spectrum Brands Holdings, Inc		986
	8,349	*	USANA Health Sciences, Inc		482
	7,178	e	WD-40 Co		1,442
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		282,507
INSURANCE - 3.7%
	438,203	e	Aflac, Inc		15,004
	9,183		Alleghany Corp		5,072
	192,264		Allstate Corp		17,636
	32,424	*	AMBAC Financial Group, Inc		400
	61,796		American Equity Investment Life Holding Co		1,162
	43,725		American Financial Group, Inc		3,064
	544,073		American International Group, Inc		13,194
	5,469		American National Insurance Co		451
	13,468		Amerisafe, Inc		868
	144,093		Aon plc		23,781
	229,608	*	Arch Capital Group Ltd		6,535
	24,041	*	Argo Group International Holdings Ltd		891
	112,850	e	Arthur J. Gallagher & Co		9,198
	39,854	e	Assurant, Inc		4,148
	61,872	e	Assured Guaranty Ltd		1,596
	82,269	*	Athene Holding Ltd		2,042

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	49,119		Axis Capital Holdings Ltd	$	1,898
	8,194	*,e	Benefytt Technologies, Inc		183
	1,201,346	*	Berkshire Hathaway, Inc (Class B)		219,642
	65,679	*	Brighthouse Financial, Inc		1,587
	144,728	e	Brown & Brown, Inc		5,242
	277,733		Chubb Ltd		31,020
	97,804	e	Cincinnati Financial Corp		7,379
	32,879	*,e	Citizens, Inc (Class A)		214
	4,218	e	CNA Financial Corp		131
	89,578		Conseco, Inc		1,110
	7,812		Donegal Group, Inc (Class A)		119
	11,930	*	eHealth, Inc		1,680
	23,170		Employers Holdings, Inc		939
	5,156	*,e	Enstar Group Ltd		820
	15,223	e	Erie Indemnity Co (Class A)		2,257
	24,282	e	Everest Re Group Ltd		4,672
	7,071		FBL Financial Group, Inc (Class A)		330
	10,321		FedNat Holding Co		119
	160,479		Fidelity National Financial Inc		3,993
	67,815		First American Financial Corp		2,876
	311,286	*	Genworth Financial, Inc (Class A)		1,034
	6,929		Global Indemnity Ltd		177
	63,858		Globe Life, Inc		4,596
	6,616	*,e	Goosehead Insurance, Inc		295
	20,683	*,e	Greenlight Capital Re Ltd (Class A)		123
	7,438	*	Hallmark Financial Services		30
	22,092		Hanover Insurance Group, Inc		2,001
	216,161		Hartford Financial Services Group, Inc		7,618
	5,533		HCI Group, Inc		223
	18,411		Heritage Insurance Holdings, Inc		197
	29,606		Horace Mann Educators Corp		1,083
	5,237		Independence Holding Co		134
	1,119		Investors Title Co		143
	12,617		James River Group Holdings Ltd		457
	38,336	e	Kemper Corp		2,851
	10,502		Kinsale Capital Group, Inc		1,098
	117,496		Lincoln National Corp		3,093
	155,278		Loews Corp		5,408
	8,170	*	Markel Corp		7,581
	308,489		Marsh & McLennan Cos, Inc		26,672
	59,989	*,e	MBIA, Inc		428
	20,342		Mercury General Corp		828
	477,525		Metlife, Inc		14,598
	35,673		National General Holdings Corp		590
	1,551		National Western Life Group, Inc		267
	7,308	*	NI Holdings, Inc		99
	167,351		Old Republic International Corp		2,552
	7,880	*	Palomar Holdings, Inc		458
	27,126		Primerica, Inc		2,400
	168,581		Principal Financial Group		5,283
	37,307		ProAssurance Corp		933
	358,573		Progressive Corp		26,477
	6,904		Protective Insurance Corp		95
	248,587		Prudential Financial, Inc		12,961

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	37,637		Reinsurance Group of America, Inc (Class A)	$	3,167
	28,312		RenaissanceRe Holdings Ltd		4,228
	27,824		RLI Corp		2,447
	11,093		Safety Insurance Group, Inc		937
	42,211		Selective Insurance Group, Inc		2,098
	11,039		State Auto Financial Corp		307
	15,315		Stewart Information Services Corp		408
	51,271	*	Third Point Reinsurance Ltd		380
	22,143		Tiptree Inc		116
	157,716		Travelers Cos, Inc		15,669
	15,868	*,e	Trupanion, Inc		413
	16,104		United Fire Group Inc		525
	12,682		United Insurance Holdings Corp		117
	22,402		Universal Insurance Holdings, Inc		401
	88,813		Unum Group		1,333
	89,718	e	W.R. Berkley Corp		4,681
	13,074	*	Watford Holdings Ltd		192
	1,751	e	White Mountains Insurance Group Ltd		1,593
	79,640		Willis Towers Watson plc		13,527
			TOTAL INSURANCE		576,575
MATERIALS - 2.6%
	15,014	e	Advanced Emissions Solutions, Inc		99
	22,501	*	AdvanSix, Inc		215
	133,737		Air Products & Chemicals, Inc		26,695
	66,965	e	Albemarle Corp		3,775
	122,406	*	Alcoa Corp		754
	78,013	*,e	Allegheny Technologies, Inc		663
	20,501	e	American Vanguard Corp		296
	36,989		Aptargroup, Inc		3,682
	13,288		Ardagh Group S.A.		158
	36,159		Ashland Global Holdings, Inc		1,810
	52,341		Avery Dennison Corp		5,332
	113,646	*	Axalta Coating Systems Ltd		1,963
	19,086		Balchem Corp		1,884
	196,611		Ball Corp		12,713
	79,377	*	Berry Global Group, Inc		2,676
	27,727		Boise Cascade Co		659
	31,457		Cabot Corp		822
	31,590	e	Carpenter Technology Corp		616
	68,757		Celanese Corp (Series A)		5,046
	36,798	*	Century Aluminum Co		133
	141,761		CF Industries Holdings, Inc		3,856
	5,158		Chase Corp		424
	96,050		Chemours Co		852
	11,678	*	Clearwater Paper Corp		255
	304,961	e	Cleveland-Cliffs, Inc		1,205
	119,550	*	Coeur Mining, Inc		384
	83,562		Commercial Metals Co		1,319
	12,191	e	Compass Minerals International, Inc		469
	453,915		Corteva, Inc		10,667
	76,387	*	Crown Holdings, Inc		4,433
	32,116		Domtar Corp		695
	452,546		Dow, Inc		13,232

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	465,617		DuPont de Nemours, Inc	$	15,878
	26,800		Eagle Materials, Inc		1,566
	76,012		Eastman Chemical Co		3,541
	154,609		Ecolab, Inc		24,093
	159,281	*	Element Solutions, Inc		1,332
	60,041	*	Ferro Corp		562
	47,286	*,†	Ferroglobe plc		0	^
	40,724	*,e	Flotek Industries, Inc		36
	77,164		FMC Corp		6,303
	887,503		Freeport-McMoRan, Inc (Class B)		5,991
	17,819		FutureFuel Corp		201
	23,656	*	GCP Applied Technologies, Inc		421
	39,231	e	Gold Resource Corp		108
	186,442		Graphic Packaging Holding Co		2,275
	18,292		Greif, Inc (Class A)		569
	3,993		Greif, Inc (Class B)		160
	34,325	e	H.B. Fuller Co		959
	7,923		Hawkins, Inc		282
	9,402		Haynes International, Inc		194
	335,463		Hecla Mining Co		611
	143,018		Huntsman Corp		2,064
	30,403	*	Ingevity Corp		1,070
	11,273		Innospec, Inc		783
	64,736	e	International Flavors & Fragrances, Inc		6,608
	235,393		International Paper Co		7,328
	67,354	*,e	Intrepid Potash, Inc		54
	12,178	e	Kaiser Aluminum Corp		844
	15,231	*	Koppers Holdings, Inc		188
	21,628	*	Kraton Corp		175
	14,288	e	Kronos Worldwide, Inc		121
	331,555		Linde plc		57,359
	93,236	*,e	Livent Corp		489
	80,217		Louisiana-Pacific Corp		1,378
	15,120	*	LSB Industries, Inc		32
	164,355		LyondellBasell Industries NV		8,157
	40,060		Martin Marietta Materials, Inc		7,581
	14,781		Materion Corp		517
	23,990		Minerals Technologies, Inc		870
	233,459		Mosaic Co		2,526
	18,118		Myers Industries, Inc		195
	10,909		Neenah Inc		470
	4,083		NewMarket Corp		1,563
	495,914		Newmont Goldcorp Corp		22,455
	149,512	*	Novagold Resources Inc		1,103
	187,370		Nucor Corp		6,749
	90,414		O-I Glass, Inc		643
	119,149		Olin Corp		1,390
	6,559		Olympic Steel, Inc		68
	32,453	*	Omnova Solutions, Inc		329
	38,461		Orion Engineered Carbons SA		287
	58,185		Packaging Corp of America		5,052
	32,454		PH Glatfelter Co		397
	58,890		PolyOne Corp		1,117
	143,293		PPG Industries, Inc		11,979

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,162	*	PQ Group Holdings, Inc	$	220
	9,399	e	Quaker Chemical Corp		1,187
	31,957		Rayonier Advanced Materials, Inc		34
	37,719		Reliance Steel & Aluminum Co		3,304
	41,577		Royal Gold, Inc		3,647
	77,728	e	RPM International, Inc		4,625
	8,418	*	Ryerson Holding Corp		45
	19,399		Schnitzer Steel Industries, Inc (Class A)		253
	20,766		Schweitzer-Mauduit International, Inc		578
	24,552		Scotts Miracle-Gro Co (Class A)		2,514
	109,559		Sealed Air Corp		2,707
	23,291		Sensient Technologies Corp		1,013
	51,358		Sherwin-Williams Co		23,600
	33,528		Silgan Holdings, Inc		973
	58,033		Sonoco Products Co		2,690
	37,657		Southern Copper Corp (NY)		1,060
	140,856		Steel Dynamics, Inc		3,175
	14,267		Stepan Co		1,262
	78,354	*	Summit Materials, Inc		1,175
	48,451		SunCoke Energy, Inc		186
	29,755	*,e	TimkenSteel Corp		96
	15,246	*	Trecora Resources		91
	19,671		Tredegar Corp		307
	23,427		Trinseo S.A.		424
	47,159		Tronox Holdings plc		235
	4,630	*	UFP Technologies, Inc		176
	1,357		United States Lime & Minerals, Inc		100
	113,186	e	United States Steel Corp		714
	11,048	*	US Concrete, Inc		200
	16,839		Valhi, Inc		17
	92,954		Valvoline, Inc		1,217
	22,885	*	Verso Corp		258
	80,224		Vulcan Materials Co		8,670
	11,178		Warrior Met Coal, Inc		119
	24,489	e	Westlake Chemical Corp		935
	152,608		WestRock Co		4,313
	13,987		Worthington Industries, Inc		367
	32,691		WR Grace and Co		1,164
			TOTAL MATERIALS		398,456
MEDIA & ENTERTAINMENT - 7.8%
	461,044	*	Activision Blizzard, Inc		27,423
	183,991	*	Alphabet, Inc (Class A)		213,788
	184,224	*	Alphabet, Inc (Class C)		214,218
	190,887	*	Altice USA, Inc		4,255
	39,663	e	AMC Entertainment Holdings, Inc		125
	16,067	*	AMC Networks, Inc		391
	3,388	*	Baudax Bio, Inc		8
	2,913		Cable One, Inc		4,789
	8,784	*,e	Cardlytics, Inc		307
	33,333	*,e	Cargurus, Inc		631
	51,951	*,e	Cars.com, Inc		223
	57,360	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		180

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	92,947	*,e	Charter Communications, Inc	$	40,554
	76,895		Cinemark Holdings, Inc		784
	28,047	*	Clear Channel		18
	2,766,047		Comcast Corp (Class A)		95,097
	31,610	*	comScore, Inc		89
	772	*,e	Daily Journal Corp		176
	89,117	*,e	Discovery, Inc (Class A)		1,732
	196,092	*	Discovery, Inc (Class C)		3,440
	156,886	*,e	DISH Network Corp (Class A)		3,136
	174,550	*	Electronic Arts, Inc		17,485
	88,350	e	Entercom Communications Corp (Class A)		151
	50,932		Entravision Communications Corp (Class A)		103
	20,620	*,e	Eros International plc		34
	23,593	*,e	Eventbrite Inc		172
	42,935	e	EW Scripps Co (Class A)		324
	1,468,790	*	Facebook, Inc		244,994
	10,504	*,e	Fluent, Inc		12
	207,531		Fox Corp (Class A)		4,904
	106,773		Fox Corp (Class B)		2,443
	83,211	*,e	Gannett Co, Inc		123
	60,132	*	GCI Liberty, Inc		3,426
	54,344	*	Glu Mobile, Inc		342
	46,930	*	Gray Television, Inc		504
	11,523	*	Hemisphere Media Group, Inc		98
	47,026	*	IAC/InterActiveCorp		8,429
	42,177	*	Imax Corp		382
	230,004		Interpublic Group of Cos, Inc		3,724
	30,218		John Wiley & Sons, Inc (Class A)		1,133
	7,655	*,e	Liberty Braves Group (Class A)		149
	25,374	*	Liberty Braves Group (Class C)		484
	12,929	*	Liberty Broadband Corp (Class A)		1,383
	63,254	*	Liberty Broadband Corp (Class C)		7,004
	29,453	*	Liberty Latin America Ltd (Class A)		310
	77,076	*	Liberty Latin America Ltd (Class C)		791
	15,619	*,e	Liberty Media Group (Class A)		403
	123,792	*,e	Liberty Media Group (Class C)		3,371
	50,898	*	Liberty SiriusXM Group (Class A)		1,613
	90,392	*	Liberty SiriusXM Group (Class C)		2,858
	53,282	*	Liberty TripAdvisor Holdings, Inc		96
	37,150	*,e	Lions Gate Entertainment Corp (Class A)		226
	71,817	*,e	Lions Gate Entertainment Corp (Class B)		401
	88,266	*,e	Live Nation, Inc		4,013
	9,932	*	Loral Space & Communications, Inc		161
	13,200	*	Madison Square Garden Co		2,791
	14,211		Marcus Corp		175
	35,129	*,e	Match Group, Inc		2,320
	37,799	*	MDC Partners, Inc		55
	46,865	*	Meet Group, Inc		275
	5,731	e	Meredith Corp		70
	43,336	*,e	MSG Networks, Inc		442
	46,358	e	National CineMedia, Inc		151
	258,919	*	NetFlix, Inc		97,224
	89,935		New York Times Co (Class A)		2,762
	268,456	e	News Corp (Class A)		2,409

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	86,319	e	News Corp (Class B)	$	776
	26,017		Nexstar Media Group Inc		1,502
	131,619		Omnicom Group, Inc		7,226
	20,643	*,e	QuinStreet, Inc		166
	12,373	*,e	Reading International, Inc		48
	53,205	*,e	Roku, Inc		4,654
	13,437	*	Rosetta Stone, Inc		188
	3,161		Saga Communications, Inc		87
	19,984		Scholastic Corp		509
	42,650		Sinclair Broadcast Group, Inc (Class A)		686
	829,989	e	Sirius XM Holdings, Inc		4,100
	80,445	*	Spotify Technology S.A.		9,769
	68,716	*	Take-Two Interactive Software, Inc		8,150
	12,153	*	TechTarget, Inc		251
	119,764		TEGNA, Inc		1,301
	15,283	e	Tribune Publishing Co		124
	71,015		TripAdvisor, Inc		1,235
	44,667	*	TrueCar, Inc		108
	459,581	*	Twitter, Inc		11,287
	4,594	e	ViacomCBS, Inc (Class A)		82
	335,479	e	ViacomCBS, Inc (Class B)		4,700
	1,073,424		Walt Disney Co		103,693
	15,148	*	WideOpenWest, Inc		72
	27,047	e	World Wrestling Entertainment, Inc (Class A)		918
	56,028	*	Yelp, Inc		1,010
	38,071	*,e	Zillow Group, Inc (Class A)		1,293
	76,096	*,e	Zillow Group, Inc (Class C)		2,741
	549,506	*	Zynga, Inc		3,764
			TOTAL MEDIA & ENTERTAINMENT		1,202,524
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.7%
	907,240		AbbVie, Inc		69,123
	260,303	*,e	Abeona Therapeutics, Inc		547
	70,913	*	Acadia Pharmaceuticals, Inc		2,996
	18,841	*,e	Accelerate Diagnostics, Inc		157
	22,847	*	Acceleron Pharma, Inc		2,053
	14,790	*,e	Aclaris Therapeutics, Inc		15
	31,389	*,e	Acorda Therapeutics, Inc		29
	12,735	*,e	Adamas Pharmaceuticals, Inc		37
	41,261	*	Adaptive Biotechnologies Corp		1,146
	203,792	*	ADMA Biologics, Inc		587
	192,826	*	Aduro Biotech, Inc		528
	36,900	*,e	Adverum Biotechnologies, Inc		361
	21,807	*,e	Aerie Pharmaceuticals, Inc		294
	56,789	*	Agenus, Inc		139
	196,295		Agilent Technologies, Inc		14,059
	34,493	*	Agios Pharmaceuticals, Inc		1,224
	25,712	*,e	Aimmune Therapeutics, Inc		371
	10,845	*,e	Akcea Therapeutics, Inc		155
	62,063	*	Akebia Therapeutics, Inc		470
	64,824	*	Akorn, Inc		36
	6,175	*,e	Albireo Pharma, Inc		101
	34,164	*,†	Alder Biopharmaceuticals Inc		30
	19,353	*,e	Alector, Inc		467

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	129,884	*	Alexion Pharmaceuticals, Inc	$	11,662
	110,420	*,e	Alkermes plc		1,592
	12,247	*,e	Allakos, Inc		545
	202,472		Allergan plc		35,858
	14,115	*,e	Allogene Therapeutics, Inc		274
	68,830	*	Alnylam Pharmaceuticals, Inc		7,492
	25,493	*,e	AMAG Pharmaceuticals, Inc		158
	362,435		Amgen, Inc		73,476
	128,302	*	Amicus Therapeutics, Inc		1,186
	53,162	*,e	Amneal Pharmaceuticals, Inc		185
	25,774	*,e	Amphastar Pharmaceuticals, Inc		382
	12,566	*	AnaptysBio, Inc		178
	5,767	*	ANI Pharmaceuticals, Inc		235
	10,943	*,e	Anika Therapeutics, Inc		316
	43,255	*,e	Apellis Pharmaceuticals, Inc		1,159
	2,776	*	Applied Therapeutics, Inc		91
	20,717	*	Arcus Biosciences, Inc		288
	22,973	*,e	Ardelyx, Inc		131
	33,642	*,e	Arena Pharmaceuticals, Inc		1,413
	58,978	*,e	Arrowhead Pharmaceuticals Inc		1,697
	11,368	*	Arvinas, Inc		458
	10,043	*	Assembly Biosciences, Inc		149
	44,278	*	Assertio Therapeutics, Inc		29
	81,442	*	Atara Biotherapeutics, Inc		693
	28,525	*,e	Athenex, Inc		221
	52,762	*,e	Athersys, Inc		158
	32,900	*,e	Atreca, Inc		544
	199,168	*	Avantor, Inc		2,488
	33,858	*,e	Avid Bioservices, Inc		173
	13,157	*,e	Avrobio, Inc		205
	15,727	*	Axsome Therapeutics, Inc		925
	68,998	*	BioCryst Pharmaceuticals, Inc		138
	52,671	*,e	BioDelivery Sciences International, Inc		200
	107,577	*	Biogen, Inc		34,035
	18,525	*	Biohaven Pharmaceutical Holding Co Ltd		630
	113,102	*	BioMarin Pharmaceutical, Inc		9,557
	13,641	*	Bio-Rad Laboratories, Inc (Class A)		4,782
	3,856	*	Biospecifics Technologies Corp		218
	25,935		Bio-Techne Corp		4,918
	33,689	*	Bluebird Bio, Inc		1,548
	28,144	*,e	Blueprint Medicines Corp		1,646
	46,072	*,e	Bridgebio Pharma, Inc		1,336
	1,435,542		Bristol-Myers Squibb Co		80,017
	63,170		Bruker BioSciences Corp		2,265
	21,820	*	Calithera Biosciences, Inc		97
	5,849	*,e	Calyxt, Inc		19
	19,366	*,e	Cara Therapeutics, Inc		256
	21,908	*,e	CareDx, Inc		478
	33,837	*,e	CASI Pharmaceuticals, Inc		69
	17,537	*	Castle Biosciences, Inc		523
	90,837	*	Catalent, Inc		4,719
	50,782	*,e	Catalyst Pharmaceuticals, Inc		196
	20,222	*,e	CEL-SCI Corp		233
	30,648	*	Charles River Laboratories International, Inc		3,868

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	18,304	*,e	ChemoCentryx, Inc	$	735
	30,594	*	Chimerix, Inc		44
	28,650	*,e	Clovis Oncology, Inc		182
	23,538	*,e	Codexis, Inc		263
	27,864	*,e	Coherus Biosciences, Inc		452
	16,286	*,e	Collegium Pharmaceutical, Inc		266
	11,239	*	Concert Pharmaceuticals, Inc		99
	9,720	*,e	Constellation Pharmaceuticals, Inc		305
	32,828	*,e	Corbus Pharmaceuticals Holdings, Inc		172
	65,375	*,e	Corcept Therapeutics, Inc		777
	15,295	*,†,e	Corium International, Inc		3
	7,159	*,e	Cortexyme Inc		327
	11,975	*	Cue Biopharma, Inc		170
	39,943	*,e	Cymabay Therapeutics, Inc		59
	30,153	*,e	Cytokinetics, Inc		356
	21,311	*	CytomX Therapeutics, Inc		163
	16,343	*,e	Deciphera Pharmaceuticals, Inc		673
	35,588	*,e	Denali Therapeutics, Inc		623
	30,105	*,e	Dicerna Pharmaceuticals, Inc		553
	35,256	*,e	Dynavax Technologies Corp		124
	6,368	*,e	Eagle Pharmaceuticals, Inc		293
	24,325	*,e	Editas Medicine, Inc		482
	10,671	*,e	Eidos Therapeutics, Inc		523
	242,493	*,e	Elanco Animal Health, Inc		5,429
	525,595		Eli Lilly & Co		72,911
	14,575	*,e	Eloxx Pharmaceuticals, Inc		29
	24,015	*	Emergent Biosolutions, Inc		1,390
	11,786	*	Enanta Pharmaceuticals, Inc		606
	161,263	*,e	Endo International plc		597
	56,660	*,e	Epizyme, Inc		879
	9,694	*,e	Esperion Thereapeutics, Inc		306
	85,635	*,e	Exact Sciences Corp		4,967
	189,826	*	Exelixis, Inc		3,269
	42,216	*,e	Fate Therapeutics, Inc		938
	50,667	*	FibroGen, Inc		1,761
	19,800	*	Five Prime Therapeutics, Inc		45
	19,463	*,e	Flexion Therapeutics, Inc		153
	20,851	*	Fluidigm Corp		53
	14,387	*	Forty Seven, Inc		1,373
	5,695	*,e	G1 Therapeutics, Inc		63
	114,325	*,e	Geron Corp		136
	790,153		Gilead Sciences, Inc		59,072
	36,433	*,e	Global Blood Therapeutics, Inc		1,861
	22,784	*	GlycoMimetics, Inc		52
	12,922	*,e	Gossamer Bio, Inc		131
	79,065	*	Halozyme Therapeutics, Inc		1,422
	32,353	*,e	Heron Therapeutics, Inc		380
	11,341	*,e	Homology Medicines, Inc		176
	118,653	*,e	Horizon Therapeutics Plc		3,514
	2,211	*	IGM Biosciences, Inc		124
	91,865	*	Illumina, Inc		25,090
	65,469	*,e	Immunogen, Inc		223
	89,330	*,e	Immunomedics, Inc		1,204
	110,207	*	Incyte Corp		8,070

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	55,553	*,e	Innoviva, Inc	$	653
	54,978	*,e	Inovio Pharmaceuticals, Inc		409
	45,452	*,e	Insmed, Inc		729
	10,757	*,e	Intellia Therapeutics, Inc		132
	12,921	*	Intercept Pharmaceuticals, Inc		814
	18,642	*	Intersect ENT, Inc		221
	25,348	*,e	Intra-Cellular Therapies, Inc		390
	55,953	*,e	Invitae Corp		765
	79,163	*	Ionis Pharmaceuticals, Inc		3,743
	74,052	*	Iovance Biotherapeutics, Inc		2,217
	109,471	*	IQVIA Holdings, Inc		11,808
	95,014	*,e	Ironwood Pharmaceuticals, Inc		959
	35,564	*	Jazz Pharmaceuticals plc		3,547
	1,633,119		Johnson & Johnson		214,151
	4,482	*,e	Jounce Therapeutics, Inc		21
	47,099	*,e	Kadmon Holdings, Inc		197
	5,857	*,e	Kala Pharmaceuticals, Inc		51
	3,977	*	Karuna Therapeutics, Inc		286
	46,110	*,e	Karyopharm Therapeutics, Inc		886
	15,620	*	Kindred Biosciences, Inc		62
	15,063	*,e	Kodiak Sciences, Inc		719
	5,660	*,e	Krystal Biotech Inc		245
	10,057	*,e	Kura Oncology, Inc		100
	12,410	*,e	La Jolla Pharmaceutical Co		52
	19,506	*,e	Lannett Co, Inc		136
	30,110	*,e	Lexicon Pharmaceuticals, Inc		59
	14,752	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,073
	56,186	*,e	Lineage Cell Therapeutics, Inc		47
	31,134		Luminex Corp		857
	23,459	*	MacroGenics, Inc		137
	3,934	*,e	Madrigal Pharmaceuticals, Inc		263
	94,899	*,e	MannKind Corp		98
	24,678	*,e	Marinus Pharmaceuticals, Inc		50
	22,034	*,e	MediciNova, Inc		82
	17,824	*	Medpace Holdings, Inc		1,308
	10,086	*	MeiraGTx Holdings plc		136
	1,565,974		Merck & Co, Inc		120,486
	8,441	*	Mersana Therapeutics, Inc		49
	15,197	*	Mettler-Toledo International, Inc		10,494
	18,922	*	Minerva Neurosciences, Inc		114
	18,289	*	Mirati Therapeutics, Inc		1,406
	146,338	*,e	Moderna, Inc		4,383
	33,966	*,e	Molecular Templates, Inc		451
	71,708	*	Momenta Pharmaceuticals, Inc		1,950
	318,269	*	Mylan NV		4,745
	20,674	*	MyoKardia, Inc		969
	46,607	*,e	Myriad Genetics, Inc		667
	10,862	*,e	NanoString Technologies, Inc		261
	39,201	*	Natera, Inc		1,171
	106,507	*,e	Nektar Therapeutics		1,901
	58,635	*	NeoGenomics, Inc		1,619
	57,167	*	Neurocrine Biosciences, Inc		4,948
	8,857	*,e	NextCure Inc		328
	15,360	*,e	NGM Biopharmaceuticals Inc		189

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,848	*,e	Novavax, Inc	$	134
	13,115	*	Ocular Therapeutix, Inc		65
	7,487	*,e	Odonate Therapeutics, Inc		207
	29,642	*,e	Omeros Corp		396
	238,337	*,e	Opko Health, Inc		319
	10,903	*,e	Optinose, Inc		49
	55,440	*,e	Pacific Biosciences of California, Inc		170
	28,237	*,e	Pacira BioSciences Inc		947
	17,330	*,e	Paratek Pharmaceuticals, Inc		55
	120,653	*	PDL BioPharma, Inc		340
	73,051		PerkinElmer, Inc		5,499
	81,033		Perrigo Co plc		3,897
	18,762	*	Pfenex, Inc		165
	3,419,130		Pfizer, Inc		111,600
	12,927		Phibro Animal Health Corp		312
	24,527	*	Pieris Pharmaceuticals, Inc		56
	5,876	*,e	PolarityTE, Inc		6
	36,240	*,e	Portola Pharmaceuticals, Inc		258
	34,913	*	PRA Health Sciences, Inc		2,899
	22,592	*	Precision BioSciences Inc		136
	38,233	*,e	Prestige Consumer Healthcare, Inc.		1,402
	8,652	*,e	Principia Biopharma, Inc		514
	51,583	*	Progenics Pharmaceuticals, Inc		196
	27,579	*	Prothena Corp plc		295
	37,990	*,e	PTC Therapeutics, Inc		1,695
	20,506	*,e	Puma Biotechnology, Inc		173
	136,855	*,e	QIAGEN NV		5,693
	6,148	*	Quanterix Corp		113
	21,890	*,e	Ra Pharmaceuticals, Inc		1,051
	27,010	*,e	Radius Health, Inc		351
	12,412	*,e	Reata Pharmaceuticals, Inc		1,792
	8,471	*,e	Recro Pharma, Inc		69
	50,628	*	Regeneron Pharmaceuticals, Inc		24,721
	19,715	*	REGENXBIO, Inc		638
	33,047	*,e	Repligen Corp		3,190
	25,726	*,e	Retrophin, Inc		375
	15,494	*,e	Revance Therapeutics, Inc		229
	6,147	*	Rhythm Pharmaceuticals, Inc		94
	86,450	*,e	Rigel Pharmaceuticals, Inc		135
	47,480	*,e	Rocket Pharmaceuticals, Inc		662
	22,395	*,e	Rubius Therapeutics, Inc		100
	32,762	*,e	Sage Therapeutics, Inc		941
	52,234	*	Sangamo Therapeutics Inc		333
	42,194	*	Sarepta Therapeutics, Inc		4,127
	28,365	*	Scholar Rock Holding Corp		343
	70,004	*	Seattle Genetics, Inc		8,077
	13,345	*	Seres Therapeutics, Inc		48
	35,191	*,e	SIGA Technologies, Inc		168
	6,168	*,e	Solid Biosciences, Inc		15
	58,895	*,e	Sorrento Therapeutics, Inc		108
	56,104	*,e	Spectrum Pharmaceuticals, Inc		131
	6,568	*,e	SpringWorks Therapeutics, Inc		177
	12,168	*,e	Stemline Therapeutics, Inc		59
	10,464	*	Stoke Therapeutics, Inc		240

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	34,621	*	Supernus Pharmaceuticals, Inc	$	623
	6,983	*,e	Syndax Pharmaceuticals, Inc		77
	39,474	*	Syneos Health, Inc		1,556
	9,466	*,e	Syros Pharmaceuticals, Inc		56
	34,724	*,e	TG Therapeutics, Inc		342
	114,084	*,e	TherapeuticsMD, Inc		121
	29,259	*	Theravance Biopharma, Inc		676
	246,210		Thermo Fisher Scientific, Inc		69,825
	18,965	*,e	Translate Bio, Inc		189
	7,799	*,e	Tricida, Inc		172
	17,419	*	Turning Point Therapeutics Inc		778
	13,734	*,e	Twist Bioscience Corp		420
	68,656	*,e	Tyme Technologies, Inc		76
	28,669	*,e	Ultragenyx Pharmaceutical, Inc		1,274
	28,234	*,e	United Therapeutics Corp		2,677
	16,428	*,e	UNITY Biotechnology, Inc		95
	12,098	*,e	UroGen Pharma Ltd		216
	31,395	*	Vanda Pharmaceuticals, Inc		325
	16,367	*,e	Veracyte, Inc		398
	24,994	*	Vericel Corp		229
	158,956	*	Vertex Pharmaceuticals, Inc		37,824
	29,514	*,e	Viking Therapeutics, Inc		138
	10,045	*	Vir Biotechnology, Inc		344
	8,673	*,e	Voyager Therapeutics, Inc		79
	40,417	*	Waters Corp		7,358
	39,150	*,e	WaVe Life Sciences Ltd		367
	11,934	*,e	XBiotech, Inc		127
	27,098	*,e	Xencor, Inc		810
	13,141	*,e	Y-mAbs Therapeutics, Inc		343
	90,754	*,e	ZIOPHARM Oncology, Inc		222
	296,615		Zoetis, Inc		34,909
	17,421	*,e	Zogenix, Inc		431
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,347,278
REAL ESTATE - 3.8%
	36,029		Acadia Realty Trust		446
	18,415	e	Agree Realty Corp		1,140
	47,563		Alexander & Baldwin, Inc		534
	1,329	e	Alexander’s, Inc		367
	75,035		Alexandria Real Estate Equities, Inc		10,284
	8,343	*,e	Altisource Portfolio Solutions S.A.		64
	28,646		American Assets Trust, Inc		716
	84,782		American Campus Communities, Inc		2,353
	68,972	e	American Finance Trust, Inc		431
	164,177		American Homes 4 Rent		3,809
	270,219		American Tower Corp		58,840
	124,274		Americold Realty Trust		4,230
	80,063		Apartment Investment & Management Co		2,814
	113,878		Apple Hospitality REIT, Inc		1,044
	31,681		Armada Hoffler Properties, Inc		339
	56,474		Ashford Hospitality Trust, Inc		42
	84,670		AvalonBay Communities, Inc		12,461
	16,903		Bluerock Residential Growth REIT, Inc		94
	94,112		Boston Properties, Inc		8,680

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	20,771	e	BraeMar Hotels & Resorts, Inc	$	35
	121,360		Brandywine Realty Trust		1,277
	188,541		Brixmor Property Group, Inc		1,791
	43,270	e	Brookfield Property REIT, Inc		367
	56,479		Camden Property Trust		4,475
	50,740		CareTrust REIT, Inc		750
	29,192		CatchMark Timber Trust, Inc		211
	124,137	*,e	CBL & Associates Properties, Inc		25
	206,667	*	CBRE Group, Inc		7,793
	62,949		Cedar Realty Trust, Inc		59
	28,285		Chatham Lodging Trust		168
	21,833		City Office REIT, Inc		158
	10,462		Clipper Realty, Inc		54
	350,580		Colony Capital, Inc		614
	83,894		Columbia Property Trust, Inc		1,049
	9,586		Community Healthcare Trust, Inc		367
	3,235		Consolidated-Tomoka Land Co		147
	49,610	e	CoreCivic, Inc		554
	9,299	e	CorEnergy Infrastructure Trust, Inc		171
	7,951	e	CorePoint Lodging, Inc		31
	24,799		Coresite Realty		2,874
	72,219		Corporate Office Properties Trust		1,598
	101,092		Cousins Properties, Inc		2,959
	255,138		Crown Castle International Corp		36,842
	114,248		CubeSmart		3,061
	66,192	*,e	Cushman & Wakefield plc		777
	72,671	e	CyrusOne, Inc		4,487
	144,818	e	DiamondRock Hospitality Co		736
	161,114	e	Digital Realty Trust, Inc		22,380
	136,618		Diversified Healthcare Trust		496
	102,445		Douglas Emmett, Inc		3,126
	220,159		Duke Realty Corp		7,129
	45,779		Easterly Government Properties, Inc		1,128
	23,644		EastGroup Properties, Inc		2,470
	87,790		Empire State Realty Trust, Inc		787
	45,571		EPR Properties		1,104
	52,520		Equinix, Inc		32,802
	62,602		Equity Commonwealth		1,985
	106,022		Equity Lifestyle Properties, Inc		6,094
	226,119		Equity Residential		13,954
	50,764	e	Essential Properties Realty Trust, Inc		663
	40,672		Essex Property Trust, Inc		8,958
	77,495		Extra Space Storage, Inc		7,421
	19,962	e	Farmland Partners, Inc		121
	43,819		Federal Realty Investment Trust		3,269
	67,202		First Industrial Realty Trust, Inc		2,233
	425	*	Forestar Group, Inc		4
	44,705	e	Four Corners Property Trust, Inc		836
	72,511		Franklin Street Properties Corp		415
	37,147		Front Yard Residential Corp		444
	4,942	*,e	FRP Holdings, Inc		212
	124,798		Gaming and Leisure Properties, Inc		3,458
	87,896		Geo Group, Inc		1,069
	18,198	e	Getty Realty Corp		432

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	17,811	e	Gladstone Commercial Corp	$	256
	10,990	e	Global Medical REIT, Inc		111
	44,961		Global Net Lease, Inc		601
	35,286	e	Hannon Armstrong Sustainable Infrastructure Capital, Inc		720
	82,789		Healthcare Realty Trust, Inc		2,312
	142,087	e	Healthcare Trust of America, Inc		3,450
	322,762		Healthpeak Properties Inc		7,698
	27,708	e	Hersha Hospitality Trust		99
	59,455		Highwoods Properties, Inc		2,106
	443,417	e	Host Hotels and Resorts, Inc		4,895
	24,727	*,e	Howard Hughes Corp		1,249
	96,055		Hudson Pacific Properties		2,436
	48,914		Independence Realty Trust, Inc		437
	34,891		Industrial Logistics Properties Trust		612
	12,680	e	Innovative Industrial Properties, Inc		963
	9,060	e	Investors Real Estate Trust		498
	339,239		Invitation Homes, Inc		7,250
	172,480	e	Iron Mountain, Inc		4,105
	49,646		iStar Inc		527
	64,898		JBG SMITH Properties		2,066
	6,203	e	Jernigan Capital, Inc		68
	30,788		Jones Lang LaSalle, Inc		3,109
	84,885	e	Kennedy-Wilson Holdings, Inc		1,139
	61,892	e	Kilroy Realty Corp		3,943
	238,176		Kimco Realty Corp		2,303
	55,102		Kite Realty Group Trust		522
	51,720		Lamar Advertising Co		2,652
	144,484		Lexington Realty Trust		1,435
	25,812		Life Storage, Inc		2,441
	26,668		LTC Properties, Inc		824
	92,755	e	Macerich Co		522
	65,387	e	Mack-Cali Realty Corp		996
	11,498	*,e	Marcus & Millichap, Inc		312
	4,532	*	Maui Land & Pineapple Co, Inc		50
	324,614		Medical Properties Trust, Inc		5,613
	68,412		Mid-America Apartment Communities, Inc		7,048
	50,307		Monmouth Real Estate Investment Corp (Class A)		606
	19,871	e	National Health Investors, Inc		984
	99,747		National Retail Properties, Inc		3,211
	31,451		National Storage Affiliates Trust		931
	55,714		New Senior Investment Group, Inc		143
	93,396		Newmark Group, Inc		397
	12,730	e	NexPoint Residential Trust, Inc		321
	23,677		Office Properties Income Trust		645
	129,929		Omega Healthcare Investors, Inc		3,448
	9,027		One Liberty Properties, Inc		126
	76,197	e	Outfront Media, Inc		1,027
	141,733	e	Paramount Group, Inc		1,247
	161,864		Park Hotels & Resorts, Inc		1,280
	85,851	e	Pebblebrook Hotel Trust		935
	52,388	e	Pennsylvania REIT		48
	107,460		Physicians Realty Trust		1,498
	72,743		Piedmont Office Realty Trust, Inc		1,285
	47,001	e	PotlatchDeltic Corp		1,475

312

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,687		Preferred Apartment Communities, Inc	$	156
	447,559		Prologis, Inc		35,970
	13,748		PS Business Parks, Inc		1,863
	90,850		Public Storage, Inc		18,044
	34,553		QTS Realty Trust, Inc		2,004
	89,792	e	Rayonier, Inc		2,115
	13,117		Re/Max Holdings, Inc		288
	75,694	e	Realogy Holdings Corp		228
	204,582		Realty Income Corp		10,200
	40,113	*,e	Redfin Corp		619
	100,880		Regency Centers Corp		3,877
	78,162		Retail Opportunities Investment Corp		648
	173,060	e	Retail Properties of America, Inc		895
	11,072		Retail Value, Inc		136
	67,055		Rexford Industrial Realty, Inc		2,750
	92,471		RLJ Lodging Trust		714
	5,123		RMR Group, Inc		138
	57,913		RPT Realty		349
	24,668		Ryman Hospitality Properties		884
	116,469		Sabra Healthcare REIT, Inc		1,272
	7,521	e	Safehold, Inc		476
	6,451		Saul Centers, Inc		211
	69,403		SBA Communications Corp		18,737
	18,501	*,e	Seritage Growth Properties		169
	94,726		Service Properties Trust		512
	194,636		Simon Property Group, Inc		10,678
	103,764		SITE Centers Corp		541
	50,489		SL Green Realty Corp		2,176
	56,193	e	Spirit Realty Capital, Inc		1,469
	33,773	*,e	St. Joe Co		567
	84,224	e	STAG Industrial, Inc		1,897
	121,165	e	STORE Capital Corp		2,196
	4,495	*	Stratus Properties, Inc		80
	73,018		Summit Hotel Properties, Inc		308
	56,879		Sun Communities, Inc		7,101
	159,024	e	Sunstone Hotel Investors, Inc		1,385
	67,688	e	Tanger Factory Outlet Centers, Inc		338
	31,888	e	Taubman Centers, Inc		1,335
	12,164	*	Tejon Ranch Co		171
	35,329	e	Terreno Realty Corp		1,828
	175,727		UDR, Inc		6,421
	20,169		UMH Properties, Inc		219
	119,952	e	Uniti Group, Inc		723
	9,264	e	Universal Health Realty Income Trust		934
	70,770		Urban Edge Properties		623
	20,808	e	Urstadt Biddle Properties, Inc (Class A)		293
	236,538		Ventas, Inc		6,339
	661,427		VEREIT, Inc		3,234
	272,311	e	VICI Properties, Inc		4,531
	109,042		Vornado Realty Trust		3,948
	134,922	e	Washington Prime Group, Inc		109
	53,425		Washington REIT		1,275
	67,227	e	Weingarten Realty Investors		970
	253,968		Welltower, Inc		11,627

313

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	460,332		Weyerhaeuser Co	$	7,803
	25,132		Whitestone REIT		156
	109,722	e	WP Carey, Inc		6,373
	79,064		Xenia Hotels & Resorts, Inc		814
			TOTAL REAL ESTATE		591,800
RETAILING - 6.3%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		242
	36,804		Aaron’s, Inc		838
	2,957	e	Abercrombie & Fitch Co (Class A)		27
	39,176		Advance Auto Parts, Inc		3,656
	257,046	*	Amazon.com, Inc		501,168
	117,400	e	American Eagle Outfitters, Inc		933
	5,481	*	America’s Car-Mart, Inc		309
	12,332	*	Asbury Automotive Group, Inc		681
	17,984	*,e	At Home Group, Inc		36
	21,806	*	Autonation, Inc		612
	14,287	*	AutoZone, Inc		12,087
	29,015	*	Barnes & Noble Education, Inc		39
	76,045	e	Bed Bath & Beyond, Inc		320
	133,657		Best Buy Co, Inc		7,618
	20,052		Big Lots, Inc		285
	57,850	*	BJ’s Wholesale Club Holdings, Inc		1,473
	25,475	*	Booking Holdings, Inc		34,272
	9,762	*	Boot Barn Holdings, Inc		126
	14,004	e	Buckle, Inc		192
	41,626	*	Burlington Stores, Inc		6,596
	28,267		Caleres, Inc		147
	22,123	e	Camping World Holdings, Inc		126
	103,938	*	CarMax, Inc		5,595
	28,530	*,e	Carvana Co		1,572
	12,003		Cato Corp (Class A)		128
	83,036		Chico’s FAS, Inc		107
	12,596	e	Children’s Place, Inc		246
	11,556		Citi Trends, Inc		103
	13,169	*,e	Conn’s, Inc		55
	11,400	*,e	Container Store Group, Inc		27
	33,096		Core-Mark Holding Co, Inc		946
	49,292	e	Designer Brands, Inc		245
	38,579	e	Dick’s Sporting Goods, Inc		820
	3,340	e	Dillard’s, Inc (Class A)		123
	156,815		Dollar General Corp		23,681
	142,876	*	Dollar Tree, Inc		10,497
	7,236	*,e	Duluth Holdings, Inc		29
	456,667		eBay, Inc		13,727
	75,173	*	Etsy, Inc		2,890
	84,425		Expedia Group Inc		4,751
	55,323	*,e	Express Parent LLC		82
	34,498	*	Five Below, Inc		2,428
	38,520	*,e	Floor & Decor Holdings, Inc		1,236
	58,795	e	Foot Locker, Inc		1,296
	10,965	*,e	Funko, Inc		44
	6,584	*,e	Gaia, Inc		58
	67,461	*,e	GameStop Corp (Class A)		236

314

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	130,367	e	Gap, Inc	$	918
	13,677	*	Genesco, Inc		182
	85,048		Genuine Parts Co		5,726
	50,651	*,e	GNC Holdings, Inc		24
	11,094	e	Group 1 Automotive, Inc		491
	244,899	*	Groupon, Inc		240
	60,011	*	GrubHub, Inc		2,444
	44,451	e	Guess?, Inc		301
	13,840		Haverty Furniture Cos, Inc		165
	16,994	*,e	Hibbett Sports, Inc		186
	669,814		Home Depot, Inc		125,061
	27,375	*	Hudson Ltd		137
	228,517	*,e	JC Penney Co, Inc		82
	101,978		Kohl’s Corp		1,488
	139,756	e	L Brands, Inc		1,616
	9,431	*,e	Lands’ End, Inc		50
	9,177	*	Leaf Group Ltd		12
	19,090	*	Liquidity Services, Inc		74
	10,868		Lithia Motors, Inc (Class A)		889
	174,884	*	LKQ Corp		3,587
	479,437		Lowe’s Companies, Inc		41,256
	19,294	*,e	Lumber Liquidators, Inc		91
	172,372	e	Macy’s, Inc		846
	18,578	*	MarineMax, Inc		194
	61,561	*,e	Michaels Cos, Inc		100
	13,761	e	Monro Muffler, Inc		603
	16,896	*	Murphy USA, Inc		1,425
	32,478	*,e	National Vision Holdings, Inc		631
	70,237	e	Nordstrom, Inc		1,077
	89,333		Office Depot, Inc		147
	34,400	*,e	Ollie’s Bargain Outlet Holdings, Inc		1,594
	45,318	*	O’Reilly Automotive, Inc		13,643
	12,199	*	Overstock.com, Inc		61
	12,813	e	Penske Auto Group, Inc		359
	14,105	e	PetMed Express, Inc		406
	24,507		Pool Corp		4,822
	53,361	*	Quotient Technology, Inc		347
	260,506	*	Qurate Retail Group, Inc QVC Group		1,590
	31,889	*,e	RealReal, Inc		224
	30,873		Rent-A-Center, Inc		437
	10,459	*	RH		1,051
	218,158		Ross Stores, Inc		18,973
	30,967	*,e	Rubicon Project, Inc		172
	66,571	*,e	Sally Beauty Holdings, Inc		538
	2,356	e	Shoe Carnival, Inc		49
	13,499		Shutterstock, Inc		434
	9,872	e	Signet Jewelers Ltd		64
	15,272	*,e	Sleep Number Corp		293
	20,728	e	Sonic Automotive, Inc (Class A)		275
	19,952	*	Sportsman’s Warehouse Holdings, Inc		123
	8,050	*	Stamps.com, Inc		1,047
	27,087	*,e	Stitch Fix Inc		344
	26,598	e	Tailored Brands, Inc		46
	301,210		Target Corp		28,004

315

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	74,694		Tiffany & Co	$	9,673
	6,790		Tilly’s, Inc		28
	749,756		TJX Companies, Inc		35,846
	75,463		Tractor Supply Co		6,380
	35,382	*	Ulta Beauty, Inc		6,217
	50,352	*,e	Urban Outfitters, Inc		717
	38,206	*,e	Wayfair, Inc		2,042
	5,214		Weyco Group, Inc		105
	47,928	e	Williams-Sonoma, Inc		2,038
	1,945		Winmark Corp		248
	11,661	*	Zumiez, Inc		202
			TOTAL RETAILING		971,140
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.2%
	24,223	*	Acacia Communications, Inc		1,627
	26,575	*	Advanced Energy Industries, Inc		1,289
	630,189	*	Advanced Micro Devices, Inc		28,661
	15,539	*	Alpha & Omega Semiconductor Ltd		100
	23,188	*,e	Ambarella, Inc		1,126
	73,241	*,e	Amkor Technology, Inc		571
	225,626		Analog Devices, Inc		20,227
	564,641		Applied Materials, Inc		25,872
	20,849	*	Axcelis Technologies, Inc		382
	26,991	*,e	AXT, Inc		87
	237,642		Broadcom, Inc		56,345
	49,923		Brooks Automation, Inc		1,523
	15,115		Cabot Microelectronics Corp		1,725
	15,710	*	Ceva, Inc		392
	36,649	*	Cirrus Logic, Inc		2,405
	26,675		Cohu, Inc		330
	70,502	*	Cree, Inc		2,500
	212,283		Cypress Semiconductor Corp		4,950
	28,713	*	Diodes, Inc		1,167
	14,071	*	DSP Group, Inc		189
	58,642	*,e	Enphase Energy, Inc		1,894
	86,577		Entegris, Inc		3,876
	49,996	*,e	First Solar, Inc		1,803
	51,293	*	Formfactor, Inc		1,030
	8,421	*,e	Ichor Holdings Ltd		161
	13,074	*,e	Impinj, Inc		218
	29,376	*,e	Inphi Corp		2,326
	2,629,819		Intel Corp		142,326
	96,081		KLA Corp		13,811
	87,730		Lam Research Corp		21,055
	75,431	*	Lattice Semiconductor Corp		1,344
	29,103	*,e	MACOM Technology Solutions Holdings, Inc		551
	404,891		Marvell Technology Group Ltd		9,163
	163,283		Maxim Integrated Products, Inc		7,937
	43,500	*	MaxLinear, Inc		508
	142,382	e	Microchip Technology, Inc		9,653
	673,488	*	Micron Technology, Inc		28,327
	31,711	e	MKS Instruments, Inc		2,583
	25,309		Monolithic Power Systems, Inc		4,238
	18,536	*	Nanometrics, Inc		550

316

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,168	*	NeoPhotonics Corp Ltd	$	153
	3,184		NVE Corp		166
	358,574		NVIDIA Corp		94,520
	248,719	*,e	ON Semiconductor Corp		3,094
	20,605	*,e	PDF Solutions, Inc		241
	46,544	*	Photronics, Inc		478
	20,135	e	Power Integrations, Inc		1,779
	67,941	*	Qorvo, Inc		5,478
	702,810		QUALCOMM, Inc		47,545
	79,664	*,e	Rambus, Inc		884
	47,350	*,e	Semtech Corp		1,776
	28,958	*	Silicon Laboratories, Inc		2,473
	104,533		Skyworks Solutions, Inc		9,343
	2,025	*,e	SMART Global Holdings, Inc		49
	42,585	*,e	SunPower Corp		216
	104,125		Teradyne, Inc		5,640
	577,538		Texas Instruments, Inc		57,713
	23,500	*	Ultra Clean Holdings		324
	27,466		Universal Display Corp		3,619
	34,384	*,e	Veeco Instruments, Inc		329
	154,206		Xilinx, Inc		12,019
	2,779		Xperi Corp		39
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		652,700
SOFTWARE & SERVICES - 13.9%
	36,774	*,e	2U, Inc		780
	65,506	*,e	8x8, Inc		908
	32,215	*	A10 Networks, Inc		200
	392,835		Accenture plc		64,134
	86,241	*	ACI Worldwide, Inc		2,083
	295,554	*	Adobe, Inc		94,057
	96,418	*	Akamai Technologies, Inc		8,821
	14,717	*,e	Alarm.com Holdings, Inc		573
	24,151		Alliance Data Systems Corp		813
	16,908	*,e	Altair Engineering, Inc		448
	29,506	*,e	Alteryx, Inc		2,808
	77,492		Amdocs Ltd		4,260
	15,720		American Software, Inc (Class A)		223
	53,266	*	Anaplan, Inc		1,612
	52,025	*	Ansys, Inc		12,094
	5,867	*,e	Appfolio, Inc		651
	20,140	*,e	Appian Corp		810
	44,157	*	Aspen Technology, Inc		4,198
	74,256	*	Atlassian Corp plc		10,192
	138,079	*	Autodesk, Inc		21,554
	267,722		Automatic Data Processing, Inc		36,592
	27,680	*,e	Avalara, Inc		2,065
	70,813	*,e	Avaya Holdings Corp		573
	11,374	*	Benefitfocus, Inc		101
	6,084	*,e	Bill.Com Holdings, Inc		208
	88,655	*	Black Knight, Inc		5,147
	34,044		Blackbaud, Inc		1,891
	21,965	*	Blackline, Inc		1,156
	87,893		Booz Allen Hamilton Holding Co		6,033

317

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	29,562	*	Bottomline Technologies, Inc	$	1,083
	86,219	*,e	Box, Inc		1,211
	20,694	*	Brightcove, Inc		144
	68,332		Broadridge Financial Solutions, Inc		6,480
	15,463	*	CACI International, Inc (Class A)		3,265
	168,884	*	Cadence Design Systems, Inc		11,153
	20,152	*,e	Cardtronics plc		422
	10,596		Cass Information Systems, Inc		373
	76,663		CDK Global, Inc		2,518
	22,039	*,e	Cerence Inc		339
	52,119	*	Ceridian HCM Holding, Inc		2,610
	15,814	*	ChannelAdvisor Corp		115
	71,481		Citrix Systems, Inc		10,118
	114,390	*	Cloudera, Inc		900
	331,736		Cognizant Technology Solutions Corp (Class A)		15,416
	28,135	*	Commvault Systems, Inc		1,139
	137,713	*	Conduent, Inc		337
	48,580		CoreLogic Inc		1,484
	37,259	*	Cornerstone OnDemand, Inc		1,183
	39,352	*	Coupa Software, Inc		5,499
	24,883		CSG Systems International, Inc		1,041
	7,264	*,e	Digimarc Corp		95
	49,997	*	Digital Turbine, Inc		216
	99,229	*	DocuSign, Inc		9,169
	11,005	*	Domo, Inc		109
	137,416	*	Dropbox, Inc		2,487
	146,671		DXC Technology Co		1,914
	80,272	*,e	Dynatrace, Inc		1,914
	17,480	e	Ebix, Inc		265
	33,437	*	Elastic NV		1,866
	43,380	*,e	Endurance International Group Holdings, Inc		84
	30,234	*	Envestnet, Inc		1,626
	31,755	*	EPAM Systems, Inc		5,896
	30,598	*	Euronet Worldwide, Inc		2,623
	21,053	*,e	Everbridge, Inc		2,239
	45,885	*	Everi Holdings, Inc		151
	44,094	e	EVERTEC, Inc		1,002
	10,859	*	Evo Payments, Inc		166
	21,916	*	ExlService Holdings, Inc		1,140
	18,220	*	Fair Isaac Corp		5,606
	374,460		Fidelity National Information Services, Inc		45,549
	127,712	*	FireEye, Inc		1,351
	345,726	*,e	Fiserv, Inc		32,841
	37,675	*,e	Five9, Inc		2,881
	53,129	*	FleetCor Technologies, Inc		9,911
	19,555	*	ForeScout Technologies, Inc		618
	86,966	*	Fortinet, Inc		8,798
	53,983	*	Gartner, Inc		5,375
	118,269		Genpact Ltd		3,453
	181,845		Global Payments, Inc		26,228
	111,509	*	GoDaddy, Inc		6,368
	52,363	*,e	Guidewire Software, Inc		4,153
	17,956		Hackett Group, Inc		228
	24,272	*,e	HubSpot, Inc		3,233

318

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	9,245	*,e	I3 Verticals, Inc	$	176
	24,668	*	Information Services Group, Inc		63
	4,355	*,e	Intelligent Systems Corp		148
	546,174		International Business Machines Corp		60,587
	153,509		Intuit, Inc		35,307
	27,386	*,e	j2 Global, Inc		2,050
	47,383		Jack Henry & Associates, Inc		7,356
	104,383		KBR, Inc		2,159
	80,771	e	Leidos Holdings, Inc		7,403
	50,961	*	Limelight Networks, Inc		290
	40,701	*,e	Liveperson, Inc		926
	44,500	*,e	LiveRamp Holdings, Inc		1,465
	29,939		LogMeIn, Inc		2,493
	40,270	*,e	Manhattan Associates, Inc		2,006
	18,418		Mantech International Corp (Class A)		1,338
	544,515		Mastercard, Inc (Class A)		131,533
	36,930		MAXIMUS, Inc		2,149
	41,794	*,e	Medallia, Inc		838
	4,648,094		Microsoft Corp		733,051
	6,844	*	MicroStrategy, Inc (Class A)		808
	22,456	*	Mitek Systems, Inc		177
	40,466	*	MobileIron, Inc		154
	14,483	*	Model N, Inc		322
	26,856	*,e	MongoDB, Inc		3,667
	30,028	*,e	New Relic, Inc		1,389
	46,584		NIC, Inc		1,071
	352,307		NortonLifelock, Inc		6,592
	176,319	*	Nuance Communications, Inc		2,959
	92,944	*,e	Nutanix, Inc		1,469
	62,939	*	Okta, Inc		7,695
	21,489	*	OneSpan, Inc		390
	1,233,366		Oracle Corp		59,609
	6,520	*,e	Pagerduty, Inc		113
	57,235	*	Palo Alto Networks, Inc		9,384
	196,668		Paychex, Inc		12,374
	29,293	*	Paycom Software, Inc		5,917
	18,614	*	Paylocity Holding Corp		1,644
	721,362	*	PayPal Holdings, Inc		69,063
	19,229	*,e	Paysign Inc		99
	26,462	e	Pegasystems, Inc		1,885
	25,493	*	Perficient, Inc		691
	95,646		Perspecta, Inc		1,745
	8,669	*	Ping Identity Holding Corp		174
	40,409	*,e	Pluralsight, Inc		444
	31,483		Progress Software Corp		1,007
	34,295	*	Proofpoint, Inc		3,518
	19,034	*	PROS Holdings, Inc		591
	67,535	*	PTC, Inc		4,134
	22,395	*,e	Q2 Holdings, Inc		1,323
	7,729		QAD, Inc (Class A)		309
	22,512	*	Qualys, Inc		1,958
	31,056	*	Rapid7, Inc		1,346
	42,414	*	RealPage, Inc		2,245
	44,988	*,e	RingCentral, Inc		9,533

319

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	186,641		Sabre Corp	$	1,107
	35,043	*,e	SailPoint Technologies Holding, Inc		533
	516,130	*	salesforce.com, Inc		74,312
	8,484	*	Schrodinger, Inc		366
	38,338		Science Applications International Corp		2,861
	4,599	*,e	SecureWorks Corp		53
	113,972	*	ServiceNow, Inc		32,662
	4,906	*,e	ShotSpotter, Inc		135
	55,308	*,e	Smartsheet, Inc		2,296
	16,667	*,e	SolarWinds Corp		261
	94,519	*	Splunk, Inc		11,931
	24,492	*	SPS Commerce, Inc		1,139
	216,363	*	Square, Inc		11,333
	130,813		SS&C Technologies Holdings, Inc		5,732
	54,194	*	SVMK, Inc		732
	25,754		Switch, Inc		372
	29,262	*	Sykes Enterprises, Inc		794
	90,556	*	Synopsys, Inc		11,663
	27,913	*	Telaria, Inc		167
	20,400	*,e	TeleNav, Inc		88
	8,418	*,e	Tenable Holdings, Inc		184
	76,002	*	Teradata Corp		1,557
	85,228		TiVo Corp		603
	24,614	*,e	Trade Desk, Inc		4,751
	10,054		TTEC Holdings, Inc		369
	6,516	*,e	Tucows, Inc		314
	74,964	*,e	Twilio, Inc		6,709
	24,426	*,e	Tyler Technologies, Inc		7,244
	38,674	*	Unisys Corp		478
	4,914	*	Upland Software, Inc		132
	8,321	*	Upwork, Inc		54
	18,823	*,e	Varonis Systems, Inc		1,198
	45,384	*	Verint Systems, Inc		1,952
	64,449	*	VeriSign, Inc		11,607
	63,620	*,e	Verra Mobility Corp		454
	32,131	*,e	VirnetX Holding Corp		176
	19,953	*	Virtusa Corp		567
	1,052,131		Visa, Inc (Class A)		169,519
	46,709	*,e	VMware, Inc (Class A)		5,656
	255,834	e	Western Union Co		4,638
	27,596	*	WEX, Inc		2,885
	103,705	*	Workday, Inc		13,504
	16,351	*	Workiva, Inc		529
	55,032	*,e	Yext, Inc		561
	69,807	*,e	Zendesk, Inc		4,468
	42,422	*	Zix Corp		183
	40,123	*,e	Zscaler, Inc		2,442
	55,037	*	Zuora Inc		443
			TOTAL SOFTWARE & SERVICES		2,150,221
TECHNOLOGY HARDWARE & EQUIPMENT - 6.1%
	74,639	*,e	3D Systems Corp		575
	35,649		Adtran, Inc		274
	11,056	*	Agilysys, Inc		185

320

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	176,813		Amphenol Corp (Class A)	$	12,886
	15,288	*	Anixter International, Inc		1,343
	2,533,644		Apple, Inc		644,280
	13,189	*,e	Applied Optoelectronics, Inc		100
	36,466	*	Arista Networks, Inc		7,386
	47,303	*	Arlo Technologies, Inc		115
	48,820	*	Arrow Electronics, Inc		2,532
	24,161	*,e	Avid Technology, Inc		163
	63,498		Avnet, Inc		1,594
	19,362	e	Badger Meter, Inc		1,038
	7,316		Bel Fuse, Inc (Class B)		71
	30,293		Belden CDT, Inc		1,093
	35,867		Benchmark Electronics, Inc		717
	26,799	*	CalAmp Corp		121
	28,887	*	Calix, Inc		205
	9,824	*	Casa Systems, Inc		34
	85,002		CDW Corp		7,928
	88,003	*,e	Ciena Corp		3,503
	2,632,435		Cisco Systems, Inc		103,481
	8,964	*	Clearfield, Inc		106
	98,192		Cognex Corp		4,146
	17,685	*	Coherent, Inc		1,882
	71,639	*	CommScope Holding Co, Inc		653
	16,237		Comtech Telecommunications Corp		216
	463,543		Corning, Inc		9,521
	23,637		CTS Corp		588
	27,847		Daktronics, Inc		137
	87,881	*	Dell Technologies, Inc		3,476
	53,560	*,e	Diebold, Inc		189
	18,652	*	Digi International, Inc		178
	30,745		Dolby Laboratories, Inc (Class A)		1,667
	33,587	*	EchoStar Corp (Class A)		1,074
	9,278	*	ePlus, Inc		581
	79,396	*,e	Extreme Networks, Inc		245
	38,706	*	F5 Networks, Inc		4,127
	26,560	*	Fabrinet		1,449
	12,851	*	FARO Technologies, Inc		572
	124,310	*	Fitbit, Inc		828
	84,050		FLIR Systems, Inc		2,680
	58,321	*,e	Harmonic, Inc		336
	796,640		Hewlett Packard Enterprise Co		7,735
	881,814		HP, Inc		15,308
	60,911	*,e	II-VI, Inc		1,736
	21,661	*,e	Immersion Corp		116
	103,799	*	Infinera Corp		550
	16,992	*	Insight Enterprises, Inc		716
	25,007		InterDigital, Inc		1,116
	21,818	*	IPG Photonics Corp		2,406
	18,293	*	Iteris, Inc		59
	24,355	*	Itron, Inc		1,360
	88,419		Jabil Inc		2,173
	201,956		Juniper Networks, Inc		3,865
	32,485		Kemet Corp		785
	115,010	*	Keysight Technologies, Inc		9,624

321

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	21,162	*	Kimball Electronics, Inc	$	231
	64,648	*	Knowles Corp		865
	10,929	*	KVH Industries, Inc		103
	17,448		Littelfuse, Inc		2,328
	44,541	*	Lumentum Holdings, Inc		3,283
	25,950		Methode Electronics, Inc		686
	105,108		Motorola Solutions, Inc		13,971
	12,096		MTS Systems Corp		272
	7,937	*	Napco Security Technologies, Inc		120
	76,957		National Instruments Corp		2,546
	68,992	*	NCR Corp		1,221
	136,516		NetApp, Inc		5,691
	23,887	*	Netgear, Inc		546
	43,446	*	Netscout Systems, Inc		1,028
	4,719	*	nLight, Inc		49
	23,522	*	Novanta, Inc		1,879
	12,827	*,e	OSI Systems, Inc		884
	7,480	*,e	PAR Technology Corp		96
	14,228	e	Park Aerospace Corp		179
	8,216		PC Connection, Inc		339
	24,496	e	Plantronics, Inc		246
	24,305	*	Plexus Corp		1,326
	148,433	*	Pure Storage, Inc		1,826
	37,508	*	Ribbon Communications, Inc		114
	12,852	*	Rogers Corp		1,213
	52,368	*,e	Sanmina Corp		1,429
	17,777	*	Scansource, Inc		380
	37,383	*,e	Stratasys Ltd		596
	17,210	*,e	Synaptics, Inc		996
	23,676		Synnex Corp		1,731
	19,502	*	Tech Data Corp		2,552
	147,747	*	Trimble Inc		4,703
	66,124	*	TTM Technologies, Inc		684
	5,418	e	Ubiquiti, Inc		767
	38,380	*,e	Viasat, Inc		1,379
	165,919	*	Viavi Solutions, Inc		1,860
	97,366		Vishay Intertechnology, Inc		1,403
	9,508	*	Vishay Precision Group, Inc		191
	186,271		Western Digital Corp		7,753
	105,309		Xerox Holdings Corp		1,995
	31,291	*	Zebra Technologies Corp (Class A)		5,745
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		947,030
TELECOMMUNICATION SERVICES - 2.0%
	7,472	*,e	Anterix, Inc		341
	4,481,485		AT&T, Inc		130,635
	7,918		ATN International, Inc		465
	10,381	*	Bandwidth Inc		698
	27,406	*,e	Boingo Wireless, Inc		291
	662,480		CenturyLink, Inc		6,267
	33,512	*	Cincinnati Bell, Inc		491
	29,776		Cogent Communications Group, Inc		2,441
	48,355		Consolidated Communications Holdings, Inc		220
	42,541	*,e	Gogo, Inc		90

322

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	60,764	*	Iridium Communications, Inc	$	1,357
	13,047	*	Ooma, Inc		156
	44,329	*	ORBCOMM, Inc		108
	33,638		Shenandoah Telecom Co		1,657
	14,641		Spok Holdings, Inc		156
	315,654	*	Sprint Corp		2,721
	70,982	e	Telephone & Data Systems, Inc		1,190
	192,813	*,e	T-Mobile US, Inc		16,177
	9,529	*,e	US Cellular Corp		279
	2,542,623		Verizon Communications, Inc		136,615
	143,849	*	Vonage Holdings Corp		1,040
			TOTAL TELECOMMUNICATION SERVICES		303,395
TRANSPORTATION - 1.8%
	37,928	*,e	Air Transport Services Group, Inc		693
	69,726	e	Alaska Air Group, Inc		1,985
	8,722		Allegiant Travel Co		713
	4,075		Amerco, Inc		1,184
	230,466	e	American Airlines Group, Inc		2,809
	19,331		ArcBest Corp		339
	16,948	*	Atlas Air Worldwide Holdings, Inc		435
	19,991	*,e	Avis Budget Group, Inc		278
	81,564		CH Robinson Worldwide, Inc		5,400
	21,812		Copa Holdings S.A. (Class A)		988
	23,634		Costamare, Inc		107
	8,672	*	Covenant Transportation Group, Inc		75
	456,357		CSX Corp		26,149
	14,173	*,e	Daseke, Inc		20
	347,370		Delta Air Lines, Inc		9,910
	28,818	*,e	Eagle Bulk Shipping, Inc		53
	21,041	*	Echo Global Logistics, Inc		359
	104,823		Expeditors International of Washington, Inc		6,994
	148,660		FedEx Corp		18,027
	20,963		Forward Air Corp		1,062
	6,118		Genco Shipping & Trading Ltd		39
	36,387	e	Hawaiian Holdings, Inc		380
	33,759		Heartland Express, Inc		627
	67,804	*	Hertz Global Holdings, Inc		419
	21,791	*	Hub Group, Inc (Class A)		991
	50,840	e	JB Hunt Transport Services, Inc		4,689
	146,479	*,e	JetBlue Airways Corp		1,311
	60,594		Kansas City Southern		7,706
	37,438	*,e	Kirby Corp		1,627
	71,730	e	Knight-Swift Transportation Holdings, Inc		2,353
	25,122		Landstar System, Inc		2,408
	120,361	*,e	Lyft, Inc (Class A)		3,232
	55,800		Macquarie Infrastructure Co LLC		1,409
	23,235		Marten Transport Ltd		477
	32,238		Matson, Inc		987
	158,430		Norfolk Southern Corp		23,131
	60,432		Old Dominion Freight Line		7,932
	6,136		Park-Ohio Holdings Corp		116
	29,335	*	Radiant Logistics, Inc		114
	30,762	e	Ryder System, Inc		813

323

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	33,371	*	Safe Bulkers, Inc	$	40
	18,094	*	Saia, Inc		1,331
	22,723		Schneider National, Inc		439
	40,927		Scorpio Bulkers, Inc		104
	28,022		Skywest, Inc		734
	288,936		Southwest Airlines Co		10,289
	50,261	*,e	Spirit Airlines, Inc		648
	583,042	*	Uber Technologies, Inc		16,279
	428,531		Union Pacific Corp		60,440
	141,558	*,e	United Airlines Holdings Inc		4,466
	429,415		United Parcel Service, Inc (Class B)		40,116
	6,297		Universal Logistics Holdings Inc		82
	14,010	*,e	US Xpress Enterprises, Inc		47
	27,840	e	Werner Enterprises, Inc		1,009
	52,058	*	XPO Logistics, Inc		2,538
	23,809	*,e	YRC Worldwide, Inc		40
			TOTAL TRANSPORTATION		276,943
UTILITIES - 3.5%
	387,805		AES Corp		5,274
	30,256	e	Allete, Inc		1,836
	148,965		Alliant Energy Corp		7,193
	150,299	e	Ameren Corp		10,946
	303,570		American Electric Power Co, Inc		24,280
	25,230		American States Water Co		2,062
	112,474	e	American Water Works Co, Inc		13,447
	4,909		Artesian Resources Corp		183
	92,825	*	Atlantic Power Corp		199
	69,836		Atmos Energy Corp		6,930
	27,653		Avangrid, Inc		1,211
	33,562		Avista Corp		1,426
	36,321		Black Hills Corp		2,326
	15,011	*	Cadiz, Inc		175
	35,650		California Water Service Group		1,794
	318,428		Centerpoint Energy, Inc		4,920
	11,318	e	Chesapeake Utilities Corp		970
	24,011	e	Clearway Energy, Inc (Class A)		412
	47,061		Clearway Energy, Inc (Class C)		885
	179,117	e	CMS Energy Corp		10,523
	208,003		Consolidated Edison, Inc		16,224
	10,961	e	Consolidated Water Co, Inc		180
	505,723		Dominion Energy Inc		36,508
	114,355		DTE Energy Co		10,860
	449,385	e	Duke Energy Corp		36,346
	215,040	e	Edison International		11,782
	18,873		El Paso Electric Co		1,283
	123,427	e	Entergy Corp		11,598
	239,118		Equitable Holdings, Inc		3,455
	134,955	e	Essential Utilities Inc		5,493
	139,501		Evergy, Inc		7,680
	203,372		Eversource Energy		15,906
	591,329	e	Exelon Corp		21,767
	333,198		FirstEnergy Corp		13,351

324

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY	VALUE (000)
	6,410		Global Water Resources, Inc	$	65
	66,960		Hawaiian Electric Industries, Inc		2,883
	30,421	e	Idacorp, Inc		2,671
	119,020		MDU Resources Group, Inc		2,559
	16,881		MGE Energy, Inc		1,105
	11,759	e	Middlesex Water Co		707
	44,613		National Fuel Gas Co		1,664
	62,202		New Jersey Resources Corp		2,113
	299,501		NextEra Energy, Inc		72,066
	234,601	e	NiSource, Inc		5,858
	14,483		Northwest Natural Holding Co		894
	27,636		NorthWestern Corp		1,653
	152,303	e	NRG Energy, Inc		4,152
	114,606		OGE Energy Corp		3,522
	36,272		ONE Gas, Inc		3,033
	20,715	e	Ormat Technologies, Inc		1,402
	27,545		Otter Tail Corp		1,225
	313,259	*,b,e	PG&E Corp		2,816
	67,570	e	Pinnacle West Capital Corp		5,121
	55,254		PNM Resources, Inc		2,100
	50,460		Portland General Electric Co		2,419
	476,145		PPL Corp		11,751
	305,429		Public Service Enterprise Group, Inc		13,717
	11,616	*	Pure Cycle Corp		129
	4,887		RGC Resources, Inc		141
	172,351		Sempra Energy		19,474
	12,005		SJW Corp		694
	58,642	e	South Jersey Industries, Inc		1,466
	639,342		Southern Co		34,614
	34,400		Southwest Gas Holdings Inc		2,393
	7,544	e	Spark Energy, Inc		47
	33,979	e	Spire, Inc		2,531
	17,984	*	Sunnova Energy International, Inc		181
	49,399	e	TerraForm Power, Inc		779
	132,205		UGI Corp		3,526
	10,272		Unitil Corp		537
	255,191		Vistra Energy Corp		4,073
	196,483		WEC Energy Group, Inc		17,316
	326,197		Xcel Energy, Inc		19,670
	9,006		York Water Co		391
			TOTAL UTILITIES		542,883
			TOTAL COMMON STOCKS		15,295,270
			(Cost $7,905,546)
RIGHTS / WARRANTS - 0.0%
MEDIA & ENTERTAINMENT - 0.0%
	80,085	†	Media General, Inc		0	^
			TOTAL MEDIA & ENTERTAINMENT		0	^
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	29,050	†	Elanco Animal Health, Inc CVR		2
	4,045	†	Omthera Pharmaceuticals, Inc		3

325

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

SHARES			COMPANY					VALUE (000)
	6,981	†	Tobira Therapeutics, Inc					$	0	^
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						5
			TOTAL RIGHTS / WARRANTS						5
			(Cost $1)
PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 3.8%
GOVERNMENT AGENCY DEBT - 1.0%
$	15,000,000		Federal Farm Credit Bank (FFCB)		0.490	%	04/24/20		14,999
	5,000,000		FFCB		0.100		11/20/20		4,995
	13,713,000		Federal Home Loan Bank (FHLB)		0.620		04/08/20		13,713
	2,000,000		FHLB		0.001		04/20/20		2,000
	4,000,000		FHLB		0.000		04/21/20		4,000
	16,628,000		FHLB		0.010-0.040		07/20/20		16,623
	405,000		FHLB		0.020		07/22/20		405
	10,000,000		FHLB		0.030		07/27/20		9,997
	30,000,000		FHLB		0.060		10/01/20		29,979
	3,000,000		FHLB		0.070		10/13/20		2,998
	10,000,000		FHLB		0.100		01/19/21		9,987
	4,000,000		FHLB		0.120		02/16/21		3,994
	10,000,000		FHLB		0.170		03/08/21		9,984
	4,500,000		FHLB		0.070		11/13/20		4,496
	10,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.010		08/03/20		9,996
	10,000,000		FHLMC		0.050		10/19/20		9,992
	3,216,000		Federal Agricultural Mortgage Corp		0.010		07/29/20		3,215
			TOTAL GOVERNMENT AGENCY DEBT						151,373
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.8%
	437,457,570	c	State Street Navigator Securities Lending Government Money Market Portfolio						437,458
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						437,458
			TOTAL SHORT-TERM INVESTMENTS						588,831
			(Cost $588,864)
			TOTAL INVESTMENTS - 102.8%						15,884,106
			(Cost $8,494,411)
			OTHER ASSETS & LIABILITIES, NET - (2.8)%						(426,563	)
			NET ASSETS - 100.0%					$	15,457,543

	Abbreviation(s):
CVR	Contingent Value Right
REIT	Real Estate Investment Trust
*	Non-income producing

326

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

^	Amount represents less than $1,000.
†	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 $429,164,072.
	Cost amounts are in thousands.

Futures contracts outstanding as of March 31, 2020 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	143	06/19/20	$	8,066	$	8,205	$	139
S&P 500 E Mini Index	1,021	06/19/20		127,870		131,184		3,314
S&P Mid-Cap 400 E Mini Index	8	06/19/20		1,097		1,150		53
Total	1,172		$	137,033	$	140,539	$	3,506

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2020

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.6%
AUTOMOBILES & COMPONENTS - 0.0%
$	250,627	i	Adient US LLC	LIBOR 3 M + 4.000%		5.742	%	05/06/24	$	858
	997,494	i	Clarios Global LP	LIBOR 1 M + 3.500%		4.441		04/30/26		908
	2,489,789	i	Gates Global LLC	LIBOR 1 M + 2.750%		3.750		04/01/24		2,146
			TOTAL AUTOMOBILES & COMPONENTS							3,912
BANKS - 0.0%
	997,481	i	BCPE Rover Merger Sub, Inc	LIBOR 1 M + 4.250%		5.239		11/28/25		816
			TOTAL BANKS							816
CAPITAL GOODS - 0.1%
	225,000	i	Avolon TLB Borrower  US LLC	LIBOR 1 M + 1.500%		2.273		02/05/27		192
	174,057	i	Avolon TLB Borrower US LLC	LIBOR 1 M + 1.750%		2.523		01/15/25		154
	1,492,386	i	Beacon Roofing Supply, Inc	LIBOR 1 M + 2.250%		3.239		01/02/25		1,345
	1,492,462	i	Prometric Holdings Inc	LIBOR 1 M + 3.000%		4.000		01/29/25		1,119
	1,375,447	i	TransDigm, Inc	LIBOR 1 M + 2.250%		3.239		08/22/24		1,274
	1,492,452	i	TransDigm, Inc	LIBOR 1 M + 2.250%		3.239		05/30/25		1,355
			TOTAL CAPITAL GOODS							5,439
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	232,361	i	GFL Environmental, Inc	LIBOR 1 M + 3.000%		4.000		05/30/25		1,478
	598,469	i	Packers Holdings LLC	LIBOR 1 M + 3.250%		4.250		12/04/24		501
	997,436	i	Spin Holdco, Inc	LIBOR 3 M + 3.250%		5.093		11/14/22		885
	2,000,000	i	Syneos Health Inc	LIBOR 1 M + 1.750%		2.739		08/01/24		1,920
	1,937,308	i	Trans Union LLC	LIBOR 1 M + 1.750%		2.739		11/16/26		1,849
	1,034,250	i	United Rentals North America, Inc	LIBOR 1 M + 1.750%		2.739		10/31/25		962
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							7,595
CONSUMER DURABLES & APPAREL - 0.0%
	540,000	i	Hanesbrands, Inc	LIBOR 1 M + 1.750%		3.353		12/16/24		519
	397,962	i	Samsonite IP Holdings Sarl	LIBOR 1 M + 1.750%		2.739		04/25/25		328
			TOTAL CONSUMER DURABLES & APPAREL							847
CONSUMER SERVICES - 0.0%
	445,890	i	1011778 BC ULC	LIBOR 1 M + 1.750%		2.739		11/19/26		410
	325,260	i	Boyd Gaming Corp	LIBOR 1 W + 2.250%		2.934		09/15/23		280
	1,600,738	i	Scientific Games International, Inc	LIBOR 1 M and 2 M + 2.750%		4.369		08/14/24		1,599
	1,694,802	i	YUM! Brands	LIBOR 1 M + 1.750%		2.362		04/03/25		1,597
			TOTAL CONSUMER SERVICES							3,886
DIVERSIFIED FINANCIALS - 0.0%
	883,213	i	Lions Gate Capital Holdings LLC	LIBOR 1 M + 2.250%		3.239		03/24/25		788
			TOTAL DIVERSIFIED FINANCIALS							788
ENERGY - 0.0%
	2,000,000	i	Buckeye Partners LP	LIBOR 1 M + 2.750%		4.265		11/02/26		1,824
	1,989,892	i	Delek US Holdings, Inc	LIBOR 1 M + 2.250%		3.239		03/31/25		1,481
			TOTAL ENERGY							3,305

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
FOOD, BEVERAGE & TOBACCO - 0.0%
$	655,359	i	Hostess Brands LLC	LIBOR 1 M and 3 M + 2.250%		4.027	%	08/01/25	$	830
			TOTAL FOOD, BEVERAGE & TOBACCO							830
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	683,506	i	Change Healthcare Holdings LLC	LIBOR 1 M + 2.500%		3.500		03/01/24		1,376
	1,500,000	i	Da Vinci Purchaser Corp	LIBOR 3 M + 4.000%		5.872		01/08/27		1,410
	995,006	i	DaVita, Inc	LIBOR 1 M + 1.750%		2.739		08/12/26		942
	2,493,590	i	Endo Luxembourg Finance I Co Sarl	LIBOR 1 M + 4.250%		5.250		04/29/24		2,334
	1,031,430	i	Envision Healthcare Corp	LIBOR 1 M + 3.750%		4.739		10/10/25		521
	2,475,000	i	Grifols Worldwide Operations USA, Inc	LIBOR 1 W + 2.000%		2.684		11/15/27		2,327
	497,389	i	Jaguar Holding Co II	LIBOR 1 M + 2.500%		3.500		08/18/22		473
	162,668	i	Mallinckrodt International Finance S.A.	LIBOR 3 M + 2.750%		4.200		09/24/24		109
	1,950,225	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1 M + 3.750%		4.739		11/16/25		2,147
	2,920,100	i	Select Medical Corp	LIBOR 1 M + 2.500%		3.430		03/06/25		2,760
	942,911	i	Team Health Holdings, Inc	LIBOR 1 M + 2.750%		3.750		02/06/24		892
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							15,291
INSURANCE - 0.1%
	2,000,000	h,i	NFP Corp	LIBOR 1 M + 3.250%		4.239		02/15/27		1,707
	2,493,606	i	USI, Inc	LIBOR 1 M + 3.000%		3.989		05/16/24		2,269
			TOTAL INSURANCE							3,976
MATERIALS - 0.1%
	1,991,420	i	Atotech Alpha 3 BV	LIBOR 3 M + 3.000%		4.450		01/31/24		1,812
	1,000,000	h,i	Berry Global, Inc	LIBOR 1 M + 2.000%		2.863		10/01/22		952
	1,454,417	i	Berry Global, Inc	LIBOR 1 M + 2.000%		2.863		01/19/24		1,355
	3,482,234	i	Chemours Co	LIBOR 1 M + 1.750%		2.740		04/03/25		3,169
	488,750	i	Ineos US Finance LLC	LIBOR 1 M + 2.000%		2.989		03/31/24		445
	1,911,174	i	Messer Industries USA, Inc	LIBOR 3 M + 2.500%		3.950		03/01/26		1,690
	1,386,894	i	PolyOne Corp	LIBOR 1 M + 1.750%		2.674		01/30/26		1,191
	350,000	i	Reynolds Consumer Products LLC	LIBOR 3 M + 1.750%		3.501		02/04/27		328
	434,094	i	Starfruit US Holdco LLC	LIBOR 1 M + 3.000%		3.863		10/01/25		386
	997,494	i	Tamko Building Products, Inc	LIBOR 1 M + 3.250%		4.250		05/29/26		928
			TOTAL MATERIALS							12,256
MEDIA & ENTERTAINMENT - 0.1%
	1,990,000	i	Charter Communications Operating LLC	LIBOR 1 M + 1.750%		2.740		02/01/27		1,902
	723,188	i	CSC Holdings LLC	LIBOR 1 M + 2.500%		3.112		04/15/27		690
	995,000	i	Diamond Sports Group LLC	LIBOR 1 M + 3.250%		4.180		08/24/26		766
	534,486	i	Nielsen Finance LLC	LIBOR 1 M + 2.000%		3.005		10/04/23		491
	498,750	i	Pregis TopCo Corp	LIBOR 1 M + 4.000%		4.989		07/31/26		431
	997,500	i	Terrier Media Buyer, Inc	LIBOR 3 M + 4.250%		5.700		12/17/26		880
	2,250,000	i	Virgin Media Bristol LLC	LIBOR 1 M + 2.500%		3.205		01/31/28		2,070
			TOTAL MEDIA & ENTERTAINMENT							7,230
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	1,983,152	i	Bausch Health Americas, Inc	LIBOR 1 M + 3.000%		3.612		06/02/25		1,876
	1,942,857	i	Bausch Health Americas, Inc	LIBOR 1 M + 2.750%		3.362		11/27/25		1,836
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							3,712

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
REAL ESTATE - 0.0%
$	1,382,500	i	Cushman & Wakefield plc	LIBOR 1 M + 2.750%		3.739	%	08/21/25	$	1,206
			TOTAL REAL ESTATE							1,206
RETAILING - 0.0%
	324,188	i	Camelot Finance S.A.	LIBOR 1 M + 3.250%		4.239		10/28/26		305
			TOTAL RETAILING							305
SOFTWARE & SERVICES - 0.0%
	1,989,848	i	Open Text Corp	LIBOR 1 M + 1.750%		2.739		05/30/25		1,870
	96,775	i	Sabre GLBL, Inc	LIBOR 1 M + 2.000%		2.989		02/22/24		81
	1,750,000	i	Web.com Group Inc	LIBOR 3 M + 3.750%		4.945		10/10/25		1,426
			TOTAL SOFTWARE & SERVICES							3,377
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	1,432,179	i	Dell International LLC	LIBOR 1 M + 2.000%		2.990		09/19/25		1,361
	1,259,245	i	Plantronics, Inc	LIBOR 1 M and 3 M + 2.500%		3.459		07/02/25		974
	1,500,000	i	TTM Technologies, Inc	LIBOR 1 M + 2.500%		4.081		09/28/24		1,395
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							3,730
TELECOMMUNICATION SERVICES - 0.0%
	700,000	i	Front Range BidCo, Inc	LIBOR 1 M + 3.000%		3.989		03/09/27		658
	1,989,744	i	Sprint Communications, Inc	LIBOR 1 M + 2.500%		3.500		02/02/24		1,975
	497,481	i	Sprint Communications, Inc	LIBOR 1 M + 3.000%		4.000		02/02/24		494
			TOTAL TELECOMMUNICATION SERVICES							3,127
TRANSPORTATION - 0.0%
	1,642,871	i	American Airlines, Inc	LIBOR 1 M + 2.000%		2.705		12/14/23		1,290
	294,684	i	Vouvray US Finance, LLC	LIBOR 1 M + 3.000%		4.000		03/11/24		357
			TOTAL TRANSPORTATION							1,647
UTILITIES - 0.0%
	997,404	†,i	Gopher Resource LLC	LIBOR 1 M + 3.250%		4.250		03/06/25		883
			TOTAL UTILITIES							883
			TOTAL BANK LOAN OBLIGATIONS							84,158
			(Cost $94,020)
BONDS - 93.8%
CORPORATE BONDS - 34.9%
AUTOMOBILES & COMPONENTS - 0.3%
EUR	650,000	g	Adient Global Holdings Ltd			3.500		08/15/24		466
$	225,000		Dana, Inc			5.375		11/15/27		182
	6,950,000		General Motors Co			6.600		04/01/36		6,049
	3,350,000		General Motors Co			6.250		10/02/43		2,661
	6,500,000		General Motors Co			5.200		04/01/45		5,152
	1,925,000		General Motors Co			6.750		04/01/46		1,539

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,500,000	g	Hyundai Capital America		2.375	%	02/10/23	$	5,185
	5,500,000	g	Hyundai Capital America		3.000		02/10/27		5,102
EUR	400,000	g,o	IHO Verwaltungs GmbH		3.750		09/15/26		341
$	8,675,000		Magna International, Inc		3.625		06/15/24		9,027
			TOTAL AUTOMOBILES & COMPONENTS						35,704
BANKS - 8.2%
	8,250,000	g	Australia & New Zealand Banking Group Ltd		2.950		07/22/30		7,817
	4,400,000	g	Banco del Estado de Chile		2.668		01/08/21		4,367
	5,250,000	g	Banco del Estado de Chile		2.704		01/09/25		4,886
	300,000	g	Banco General S.A.		4.125		08/07/27		276
	3,800,000	g	Banco Internacional del Peru SAA Interbank		3.375		01/18/23		3,591
	3,800,000		Banco Santander S.A.		3.800		02/23/28		3,729
	4,400,000		Bancolombia S.A.		3.000		01/29/25		3,942
	2,650,000		Bancolombia S.A.		4.625		12/18/29		2,319
	6,300,000	g	Bank Leumi Le-Israel BM		3.275		01/29/31		5,853
	5,000,000		Bank of America Corp		3.550		03/05/24		5,183
	10,000,000		Bank of America Corp		3.864		07/23/24		10,491
EUR	400,000		Bank of America Corp		1.375		03/26/25		433
$	10,200,000		Bank of America Corp		3.875		08/01/25		10,936
	40,050,000		Bank of America Corp		2.456		10/22/25		40,389
	8,000,000		Bank of America Corp		4.250		10/22/26		8,536
	14,900,000		Bank of America Corp		3.559		04/23/27		15,595
EUR	300,000		Bank of America Corp		1.776		05/04/27		327
$	18,265,000		Bank of America Corp		3.248		10/21/27		19,076
	9,275,000		Bank of America Corp		3.824		01/20/28		9,620
	7,300,000		Bank of America Corp		3.419		12/20/28		7,537
	11,475,000		Bank of America Corp		2.884		10/22/30		11,459
	50,500,000		Bank of America Corp		2.496		02/13/31		48,451
	18,000,000		Bank of America Corp		4.083		03/20/51		20,433
	3,000,000		Bank of America Corp		6.100		N/A‡		3,030
	12,500,000	g	Bank of Montreal		2.100		06/15/22		12,913
	5,900,000		Barclays plc		4.338		05/16/24		5,692
	10,000,000		Barclays plc		3.932		05/07/25		9,597
	5,000,000	g	BNG Bank NV		2.625		04/28/21		5,111
	17,400,000	g	BNG Bank NV		3.000		09/20/23		18,726
	1,500,000	g	BNG Bank NV		1.500		10/16/24		1,549
	7,674,000	g	BPCE S.A.		4.625		07/11/24		7,545
	26,000,000	g	Canadian Imperial Bank of Commerce		3.150		06/27/21		26,495
	9,750,000		Capital One NA		2.650		08/08/22		9,655
	2,950,000		Citigroup, Inc		2.700		10/27/22		2,969
	8,500,000		Citigroup, Inc		3.875		03/26/25		8,909
EUR	250,000		Citigroup, Inc		1.500		07/24/26		268
$	36,375,000		Citigroup, Inc		3.200		10/21/26		37,675
	6,575,000		Citigroup, Inc		4.300		11/20/26		6,952
	21,485,000		Citigroup, Inc		4.450		09/29/27		22,528
	49,250,000		Citigroup, Inc		2.666		01/29/31		47,787
	11,000,000		Citigroup, Inc		4.412		03/31/31		12,103
	5,000,000		Citigroup, Inc		5.000		N/A‡		4,571
	7,400,000		Citizens Bank NA		2.650		05/26/22		7,391
	6,875,000		Cooperatieve Rabobank UA		3.950		11/09/22		6,915
	4,500,000	g	Cooperatieve Rabobank UA		2.625		07/22/24		4,372
	15,225,000		Cooperatieve Rabobank UA		3.750		07/21/26		14,670
	11,050,000	g	Credit Agricole S.A.		3.250		10/04/24		11,069

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	5,500,000	g	Credit Agricole S.A.			2.375	%	01/22/25	$	5,383
	2,450,000	g	DBS Group Holdings Ltd			4.520		12/11/28		2,542
	4,875,000		Discover Bank			3.200		08/09/21		4,852
	8,200,000		Discover Bank			2.450		09/12/24		7,856
	8,455,000		Discover Bank			3.450		07/27/26		8,267
	4,575,000		Discover Bank			2.700		02/06/30		3,977
GBP	500,000		HSBC Holdings plc			2.175		06/27/23		609
$	4,250,000		HSBC Holdings plc			3.033		11/22/23		4,219
	7,650,000		HSBC Holdings plc			3.803		03/11/25		7,964
	3,325,000		HSBC Holdings plc			2.633		11/07/25		3,226
	6,075,000		HSBC Holdings plc			3.900		05/25/26		6,181
	20,075,000		HSBC Holdings plc			4.292		09/12/26		20,987
	1,250,000		HSBC Holdings plc			4.375		11/23/26		1,327
	6,450,000		HSBC Holdings plc			4.041		03/13/28		6,565
	4,375,000		HSBC Holdings plc			4.950		03/31/30		4,825
	8,950,000		HSBC Holdings plc			3.973		05/22/30		9,192
	13,025,000		Huntington National Bank			2.500		08/07/22		13,057
	4,350,000	g	ING Groep NV			4.625		01/06/26		4,585
	2,125,000	g	Intercorp Financial Services, Inc			4.125		10/19/27		1,930
	10,000,000		JPMorgan Chase & Co			3.207		04/01/23		10,191
	10,850,000		JPMorgan Chase & Co			2.776		04/25/23		10,987
	4,850,000		JPMorgan Chase & Co			2.700		05/18/23		4,976
	35,850,000		JPMorgan Chase & Co			2.301		10/15/25		35,854
	20,000,000		JPMorgan Chase & Co			2.005		03/13/26		19,752
	14,900,000		JPMorgan Chase & Co			3.200		06/15/26		15,474
EUR	600,000		JPMorgan Chase & Co			1.638		05/18/28		640
$	12,000,000		JPMorgan Chase & Co			4.203		07/23/29		13,182
	23,700,000		JPMorgan Chase & Co			3.702		05/06/30		25,454
	44,675,000		JPMorgan Chase & Co			2.739		10/15/30		44,862
	3,220,000		JPMorgan Chase & Co			4.600		N/A‡		2,818
	4,000,000		JPMorgan Chase & Co			5.000		N/A‡		3,750
	46,225,000		JPMorgan Chase Bank NA			3.086		04/26/21		46,206
	200,000	g,i	KEB Hana Bank	LIBOR 3 M + 0.700%		2.151		10/02/22		198
	9,000,000		Mitsubishi UFJ Financial Group, Inc			2.193		02/25/25		8,911
	5,700,000		Mitsubishi UFJ Financial Group, Inc			2.559		02/25/30		5,478
	5,700,000		MUFG Americas Holdings Corp			3.500		06/18/22		5,809
	17,000,000		PNC Bank NA			2.600		07/21/20		16,974
	5,625,000		PNC Bank NA			2.450		11/05/20		5,636
	4,000,000		PNC Bank NA			2.700		10/22/29		3,880
	6,000,000		PNC Financial Services Group, Inc			3.900		04/29/24		6,406
	30,000,000	g	Royal Bank of Canada			3.350		10/22/21		31,040
	11,800,000		Royal Bank of Canada			2.550		07/16/24		12,017
	9,350,000		Santander Holdings USA, Inc			3.400		01/18/23		9,237
	13,100,000	g	Skandinaviska Enskilda Banken AB			2.625		11/17/20		13,071
	400,000	g	State Bank of India			4.375		01/24/24		394
	3,675,000		Sumitomo Mitsui Financial Group, Inc			2.778		10/18/22		3,726
	11,050,000		Sumitomo Mitsui Financial Group, Inc			2.696		07/16/24		11,043
	13,700,000		Toronto-Dominion Bank			1.850		09/11/20		13,682
	7,360,000	g	Toronto-Dominion Bank			2.250		03/15/21		7,329
	2,350,000		Toronto-Dominion Bank			3.625		09/15/31		2,337
	6,850,000		Truist Bank			3.525		10/26/21		6,856
	5,700,000		Truist Bank			2.750		05/01/23		5,770
	4,800,000		Truist Bank			2.150		12/06/24		4,755

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,000,000		Truist Financial Corp		4.000	%	05/01/25	$	5,267
	5,900,000	g	UBS Group AG.		3.126		08/13/30		5,756
	2,550,000	g	United Overseas Bank Ltd		3.750		04/15/29		2,645
	7,575,000		Wells Fargo Bank NA		3.325		07/23/21		7,587
	68,700,000		Wells Fargo Bank NA		2.082		09/09/22		68,375
	10,000,000		Westpac Banking Corp		2.750		01/11/23		10,175
	6,450,000		Westpac Banking Corp		4.110		07/24/34		6,259
			TOTAL BANKS						1,166,041
CAPITAL GOODS - 0.9%
GBP	1,000,000		BAE Systems plc		4.125		06/08/22		1,285
$	225,000	g	Beacon Roofing Supply, Inc		4.500		11/15/26		208
	3,600,000	g	BOC Aviation Ltd		3.000		09/11/29		3,527
	7,575,000	g	Carrier Global Corp		2.722		02/15/30		6,970
	1,432,000		General Electric Co		5.875		01/14/38		1,680
	108,000		General Electric Co		6.875		01/10/39		135
	1,850,000	g	Gold Fields Orogen Holdings BVI Ltd		6.125		05/15/29		1,748
EUR	1,000,000		Illinois Tool Works, Inc		1.250		05/22/23		1,125
$	1,000,000		Ingersoll-Rand Global Holding Co Ltd		3.750		08/21/28		1,015
	8,125,000		Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		8,215
	2,875,000		Lam Research Corp		3.750		03/15/26		3,050
	3,275,000		Lam Research Corp		4.000		03/15/29		3,719
	8,350,000		Lockheed Martin Corp		2.500		11/23/20		8,369
	9,825,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		10,574
	1,725,000		Mosaic Co		4.875		11/15/41		1,391
	8,925,000		Northrop Grumman Corp		3.250		01/15/28		9,363
	3,875,000	g	Otis Worldwide Corp		2.565		02/15/30		3,753
EUR	500,000		Parker-Hannifin Corp		1.125		03/01/25		551
$	19,200,000		Parker-Hannifin Corp		3.250		06/14/29		19,374
	5,475,000		Roper Technologies, Inc		3.800		12/15/26		5,629
	1,750,000		Roper Technologies, Inc		4.200		09/15/28		1,884
	1,000,000		Roper Technologies, Inc		2.950		09/15/29		994
	250,000	g	Sigma Alimentos S.A. de C.V.		4.125		05/02/26		232
	650,000		Trimble, Inc		4.900		06/15/28		700
	1,229,000		United Technologies Corp		3.650		08/16/23		1,292
	16,850,000		United Technologies Corp		4.125		11/16/28		18,601
	6,665,000		United Technologies Corp		4.500		06/01/42		7,740
			TOTAL CAPITAL GOODS						123,124
COMMERCIAL & PROFESSIONAL SERVICES - 0.5%
	875,000		AECOM		5.875		10/15/24		855
	325,000	g	ASGN, Inc		4.625		05/15/28		305
	2,350,000	g	Prime Security Services Borrower LLC		5.250		04/15/24		2,321
	2,000,000	g	Prime Security Services Borrower LLC		5.750		04/15/26		1,960
	725,000	g	Prime Security Services Borrower LLC		6.250		01/15/28		625
	11,102,000		Republic Services, Inc		3.550		06/01/22		11,389
	7,971,000		Republic Services, Inc		2.900		07/01/26		8,057
	1,000,000		United Rentals North America, Inc		4.625		10/15/25		945
	7,075,000		Visa, Inc		2.050		04/15/30		7,065
	1,800,000		Visa, Inc		2.700		04/15/40		1,787
	9,650,000		Waste Management, Inc		2.900		09/15/22		9,691
	3,600,000		Waste Management, Inc		2.950		06/15/24		3,661

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	9,700,000		Waste Management, Inc		3.150	%	11/15/27	$	10,021
	7,250,000		Waste Management, Inc		3.450		06/15/29		7,758
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,468
	3,475,000		Waste Management, Inc		4.150		07/15/49		3,996
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						72,904
CONSUMER DURABLES & APPAREL - 0.0%
	1,600,000		Leggett & Platt, Inc		4.400		03/15/29		1,652
			TOTAL CONSUMER DURABLES & APPAREL						1,652
CONSUMER SERVICES - 0.7%
	9,820,000		Amherst College		4.100		11/01/45		10,993
	29,085,000		Anheuser-Busch Cos LLC		3.650		02/01/26		30,547
	9,500,000		Anheuser-Busch Cos LLC		4.900		02/01/46		10,369
	600,000		Boyd Gaming Corp		6.000		08/15/26		516
	1,610,000	g	International Game Technology plc		6.250		02/15/22		1,480
	1,610,000	g	International Game Technology plc		6.500		02/15/25		1,425
EUR	750,000	g	International Game Technology plc		2.375		04/15/28		608
$	750,000		MGM Resorts International		4.625		09/01/26		638
	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		15,292
	2,100,000		Sands China Ltd		5.400		08/08/28		1,968
	1,000,000	g	Scientific Games International, Inc		5.000		10/15/25		870
EUR	500,000	g	Scientific Games International, Inc		3.375		02/15/26		424
$	15,000,000		Smith College		4.620		07/01/45		18,476
	100,000	g	Yum! Brands, Inc		7.750		04/01/25		105
			TOTAL CONSUMER SERVICES						102,629
DIVERSIFIED FINANCIALS - 3.3%
	3,500,000		AerCap Ireland Capital DAC		3.650		07/21/27		2,712
	5,525,000		American Express Co		2.500		08/01/22		5,621
	4,000,000		American Express Co		3.700		08/03/23		4,202
	2,775,000		American Express Credit Corp		3.300		05/03/27		2,924
	3,975,000		Ameriprise Financial, Inc		3.000		03/22/22		4,024
	6,000,000		Australia & New Zealand Banking Group Ltd		2.625		05/19/22		6,087
	500,000		AXA Equitable Holdings, Inc		5.000		04/20/48		472
	300,000	g	Bangkok Bank PCL		3.733		09/25/34		266
	5,350,000		Bank of Montreal		3.803		12/15/32		5,197
	300,000	g	BBVA Bancomer S.A.		5.350		11/12/29		273
	1,500,000	g	BBVA Bancomer S.A.		5.125		01/18/33		1,242
	4,525,000		Berkshire Hathaway, Inc		3.125		03/15/26		4,848
	11,000,000	g	BNP Paribas S.A.		2.819		11/19/25		10,867
	7,300,000	g	BNP Paribas S.A.		3.052		01/13/31		6,917
	20,775,000		Capital One Bank USA NA		3.375		02/15/23		20,325
EUR	150,000		Capital One Financial Corp		0.800		06/12/24		147
$	6,250,000		Community Preservation Corp		2.867		02/01/30		6,752
	9,800,000	g	Credit Suisse Group AG.		2.997		12/14/23		9,540
EUR	250,000	g	Credit Suisse Group AG.		1.250		07/17/25		261
$	3,900,000	g	Credit Suisse Group AG.		4.282		01/09/28		3,994
	7,700,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		7,875
	10,250,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		10,357
EUR	500,000		EDP Finance BV		1.125		02/12/24		553

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,975,000		Ford Motor Credit Co LLC		2.425	%	06/12/20	$	4,838
	4,000,000		Ford Motor Credit Co LLC		3.096		05/04/23		3,540
	4,825,000		GE Capital International Funding Co		3.373		11/15/25		4,850
	22,900,000		GE Capital International Funding Co		4.418		11/15/35		24,741
	5,475,000		General Motors Financial Co, Inc		5.650		01/17/29		4,904
EUR	850,000		Goldman Sachs Group, Inc		2.000		07/27/23		938
$	13,575,000		Goldman Sachs Group, Inc		3.500		01/23/25		13,917
	32,750,000		Goldman Sachs Group, Inc		3.691		06/05/28		33,656
	2,550,000		Goldman Sachs Group, Inc		2.600		02/07/30		2,396
	6,075,000		Goldman Sachs Group, Inc		4.017		10/31/38		6,100
	7,675,000		Goldman Sachs Group, Inc		4.800		07/08/44		9,043
	1,279,892		Golondrina Leasing LLC		1.822		05/03/25		1,294
	3,325,000	g	Grupo Aval Ltd		4.375		02/04/30		2,668
	3,375,000	g	ICICI Bank Ltd		3.800		12/14/27		3,066
	5,000,000		International Lease Finance Corp		5.875		08/15/22		4,470
	1,305,000		Legg Mason, Inc		3.950		07/15/24		1,295
	7,625,000		Morgan Stanley		3.125		01/23/23		7,799
	25,885,000		Morgan Stanley		2.720		07/22/25		26,205
	37,625,000		Morgan Stanley		3.125		07/27/26		38,893
EUR	700,000		Morgan Stanley		1.342		10/23/26		736
$	6,900,000		Morgan Stanley		3.625		01/20/27		7,294
	21,500,000		Morgan Stanley		2.699		01/22/31		21,039
	8,300,000		Morgan Stanley		5.597		03/24/51		11,723
	3,350,000	g	Power Finance Corp Ltd		3.950		04/23/30		2,825
	17,580,000		Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		17,979
	550,000		Springleaf Finance Corp		5.375		11/15/29		504
	2,600,000	g	Swiss Re Finance Luxembourg SA		5.000		04/02/49		2,637
	9,269,000		Synchrony Financial		4.250		08/15/24		8,924
	5,000,000	g	UBS AG.		2.450		12/01/20		4,982
	10,157,000	g	UBS Group AG.		2.859		08/15/23		10,069
	9,775,000		Unilever Capital Corp		2.900		05/05/27		10,363
	8,400,000		Wells Fargo & Co		3.750		01/24/24		8,893
	5,300,000		Wells Fargo & Co		3.550		09/29/25		5,590
	13,850,000		Wells Fargo & Co		3.000		04/22/26		14,256
	22,950,000		Wells Fargo & Co		2.879		10/30/30		22,758
	3,000,000		Wells Fargo & Co		5.875		N/A‡		3,045
			TOTAL DIVERSIFIED FINANCIALS						463,686
ENERGY - 2.4%
	1,825,000	g	Abu Dhabi Crude Oil Pipeline LLC		4.600		11/02/47		1,824
	1,050,000		AmeriGas Partners LP		5.875		08/20/26		1,006
	2,250,000		Archrock Partners LP		6.000		10/01/22		2,250
	11,000,000		BP Capital Markets America, Inc		3.000		02/24/50		10,227
	699,000	†,g	California Resources Corp		8.000		12/15/22		10
	478,000	†	California Resources Corp		6.000		11/15/24		10
	2,800,000		Cheniere Energy Partners LP		5.625		10/01/26		2,604
	2,375,000		Crestwood Midstream Partners LP		5.750		04/01/25		1,360
	10,000,000		Diamondback Energy, Inc		2.875		12/01/24		6,986
	7,125,000		Diamondback Energy, Inc		3.250		12/01/26		5,028
	150,000		Ecopetrol S.A.		5.375		06/26/26		146
	2,000,000		Ecopetrol S.A.		5.875		05/28/45		1,772
	475,000		Enable Midstream Partners LP		4.150		09/15/29		219
	8,225,000		Enbridge, Inc		3.125		11/15/29		7,601
	6,421,000		Energy Transfer Operating LP		3.600		02/01/23		5,708

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,930,000		Energy Transfer Operating LP		4.200	%	09/15/23	$	5,180
	4,575,000		Energy Transfer Operating LP		2.900		05/15/25		3,863
	8,400,000		Energy Transfer Operating LP		4.750		01/15/26		7,422
	7,850,000		Energy Transfer Operating LP		4.950		06/15/28		6,499
	4,885,000		Energy Transfer Operating LP		5.250		04/15/29		4,137
	10,350,000		Energy Transfer Operating LP		3.750		05/15/30		8,107
	8,700,000		Energy Transfer Operating LP		6.250		04/15/49		7,363
	11,125,000		Energy Transfer Operating LP		5.000		05/15/50		8,588
	5,125,000		Enterprise Products Operating LLC		3.700		02/15/26		5,115
	6,275,000		Enterprise Products Operating LLC		3.125		07/31/29		5,781
	700,000		Enterprise Products Operating LLC		2.800		01/31/30		636
	1,250,000		Enterprise Products Operating LLC		4.900		05/15/46		1,203
	4,025,000		Enterprise Products Operating LLC		4.250		02/15/48		3,759
	6,200,000		Enterprise Products Operating LLC		4.800		02/01/49		6,207
	4,200,000		Enterprise Products Operating LLC		4.200		01/31/50		3,933
	13,050,000		Enterprise Products Operating LLC		3.700		01/31/51		11,645
	5,125,000		Enterprise Products Operating LLC		3.950		01/31/60		4,313
	300,000	g	Gazprom OAO Via Gaz Capital S.A.		4.950		03/23/27		311
	4,850,000		Kinder Morgan Energy Partners LP		5.400		09/01/44		4,820
	2,065,000		Kinder Morgan, Inc		5.300		12/01/34		1,991
	9,825,000		Marathon Oil Corp		4.400		07/15/27		6,560
	9,075,000		Marathon Petroleum Corp		3.800		04/01/28		8,178
	2,800,000		Marathon Petroleum Corp		4.750		09/15/44		2,131
	11,000,000		MPLX LP		4.000		03/15/28		9,776
	12,525,000		MPLX LP		4.500		04/15/38		9,789
	6,150,000		MPLX LP		4.700		04/15/48		4,761
	1,250,000		Murphy Oil Corp		5.875		12/01/27		653
	900,000		Noble Energy, Inc		3.900		11/15/24		742
	1,675,000		Noble Energy, Inc		3.850		01/15/28		1,186
	7,575,000		Noble Energy, Inc		5.050		11/15/44		4,679
	3,000,000		Occidental Petroleum Corp		3.500		06/15/25		1,542
	2,200,000		Occidental Petroleum Corp		5.550		03/15/26		1,173
	3,900,000		Occidental Petroleum Corp		4.300		08/15/39		1,658
	4,000,000		ONEOK, Inc		4.000		07/13/27		3,293
	12,150,000		ONEOK, Inc		4.350		03/15/29		9,906
	19,180,000		ONEOK, Inc		3.400		09/01/29		14,332
	5,500,000		ONEOK, Inc		3.100		03/15/30		4,135
	5,500,000		ONEOK, Inc		4.500		03/15/50		4,141
	3,000,000	g	Pertamina Persero PT		4.300		05/20/23		2,982
	1,425,000	g	Pertamina Persero PT		3.650		07/30/29		1,305
	3,050,000	g	Peru LNG Srl		5.375		03/22/30		1,799
	2,335,000		Petrobras Global Finance BV		5.999		01/27/28		2,261
	1,100,000	g	Petrobras Global Finance BV		5.093		01/15/30		1,004
	750,000		Petrobras Global Finance BV		7.250		03/17/44		758
EUR	375,000		Petroleos Mexicanos		1.875		04/21/22		350
$	6,000,000		Petroleos Mexicanos		1.950		12/20/22		6,050
	3,210,000		Petroleos Mexicanos		2.000		12/20/22		3,249
	3,900,000		Petroleos Mexicanos		4.500		01/23/26		2,841
	3,775,000		Petroleos Mexicanos		6.500		03/13/27		2,794
	3,050,000		Petroleos Mexicanos		5.350		02/12/28		2,104
	2,988,000	g	Petroleos Mexicanos		6.840		01/23/30		2,162
	5,300,000	g	Petroleos Mexicanos		5.950		01/28/31		3,644
	3,250,000		Phillips 66 Partners LP		3.150		12/15/29		2,663

336

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	$	2,682
	1,200,000		Regency Energy Partners LP		4.500		11/01/23		1,087
	2,650,000	g	Rio Oil Finance Trust		8.200		04/06/28		2,385
	9,875,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		8,481
	5,550,000		Shell International Finance BV		2.250		01/06/23		5,566
	4,875,000		Shell International Finance BV		2.875		05/10/26		5,024
	6,900,000		Shell International Finance BV		3.125		11/07/49		6,884
	350,000	g	Stena AB		7.000		02/01/24		283
EUR	250,000	g	Stena International S.A.		3.750		02/01/25		222
$	6,500,000		Sunoco Logistics Partners Operations LP		4.000		10/01/27		5,145
	1,925,000		Sunoco Logistics Partners Operations LP		5.400		10/01/47		1,528
	525,000		Sunoco LP		4.875		01/15/23		507
	600,000		Targa Resources Partners LP		5.125		02/01/25		511
	1,000,000		Targa Resources Partners LP		5.875		04/15/26		833
	425,000		Targa Resources Partners LP		6.500		07/15/27		362
EUR	600,000		Total Capital International S.A.		2.500		03/25/26		713
$	19,150,000		TransCanada PipeLines Ltd		4.250		05/15/28		19,562
	2,500,000		Vale Overseas Ltd		6.250		08/10/26		2,700
	5,075,000		Williams Partners LP		3.750		06/15/27		4,653
	2,000,000	g	YPF S.A.		8.500		07/28/25		1,032
			TOTAL ENERGY						342,385
FOOD & STAPLES RETAILING - 1.1%
	6,775,000		CVS Health Corp		2.625		08/15/24		6,795
	9,975,000		CVS Health Corp		4.100		03/25/25		10,498
	15,950,000		CVS Health Corp		2.875		06/01/26		16,068
	18,555,000		CVS Health Corp		4.300		03/25/28		19,705
	7,975,000		CVS Health Corp		3.750		04/01/30		8,252
	10,300,000		CVS Health Corp		4.780		03/25/38		11,312
	8,350,000		CVS Health Corp		5.050		03/25/48		9,482
	3,750,000		CVS Health Corp		4.250		04/01/50		3,899
	2,258,000		Ingles Markets, Inc		5.750		06/15/23		2,247
	5,575,000		Kroger Co		3.700		08/01/27		5,975
	3,140,000		Kroger Co		3.875		10/15/46		3,078
	1,325,000		Kroger Co		4.450		02/01/47		1,457
	2,636,000		Kroger Co		3.950		01/15/50		2,728
EUR	1,000,000		SYSCO Corp		1.250		06/23/23		1,078
$	22,300,000		Walmart, Inc		3.700		06/26/28		25,070
	9,350,000		Walmart, Inc		3.250		07/08/29		10,286
	13,650,000		Walmart, Inc		2.375		09/24/29		14,155
	6,150,000		Walmart, Inc		3.950		06/28/38		7,259
			TOTAL FOOD & STAPLES RETAILING						159,344
FOOD, BEVERAGE & TOBACCO - 0.9%
	6,425,000		Altria Group, Inc		4.800		02/14/29		6,723
	5,800,000		Altria Group, Inc		5.950		02/14/49		6,748
	17,999,000		Anheuser-Busch InBev Finance, Inc		3.300		02/01/23		18,521
	18,600,000		Anheuser-Busch InBev Worldwide, Inc		4.750		01/23/29		20,449
	5,045,000		Anheuser-Busch InBev Worldwide, Inc		4.439		10/06/48		5,153
	5,325,000		BAT Capital Corp		4.906		04/02/30		5,462
	2,750,000		Coca-Cola Co		3.375		03/25/27		3,036
	1,700,000		Constellation Brands, Inc		4.400		11/15/25		1,715
	2,675,000		Constellation Brands, Inc		3.700		12/06/26		2,673
	1,825,000		Constellation Brands, Inc		3.600		02/15/28		1,786
	3,225,000		Constellation Brands, Inc		3.150		08/01/29		3,007
	3,000,000	g	Corp Lindley S.A.		4.625		04/12/23		2,862

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,500,000		Diageo Capital plc		2.125	%	10/24/24	$	5,364
	8,050,000		Diageo Capital plc		2.375		10/24/29		7,744
	3,600,000	g	Embotelladora Andina S.A.		3.950		01/21/50		3,060
	1,550,000		General Mills, Inc		2.875		04/15/30		1,547
	3,700,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		3,490
	2,400,000	g	Grupo Bimbo SAB de C.V.		5.950		N/A‡		2,243
	1,550,000		JM Smucker Co		2.375		03/15/30		1,429
	4,450,000		JM Smucker Co		3.550		03/15/50		4,058
	3,900,000		Kellogg Co		3.400		11/15/27		4,027
	3,125,000		PepsiCo, Inc		3.450		10/06/46		3,513
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		2,179
	2,700,000		Tyson Foods, Inc		3.900		09/28/23		2,871
	4,600,000		Tyson Foods, Inc		3.550		06/02/27		4,766
	5,800,000		Tyson Foods, Inc		5.100		09/28/48		7,196
			TOTAL FOOD, BEVERAGE & TOBACCO						131,622
HEALTH CARE EQUIPMENT & SERVICES - 0.9%
	11,100,000		Anthem, Inc		3.650		12/01/27		11,463
EUR	430,000		Becton Dickinson & Co		1.401		05/24/23		475
	670,000		Becton Dickinson & Co		1.900		12/15/26		742
$	11,589,000		Becton Dickinson & Co		3.700		06/06/27		11,777
	4,850,000		Boston Scientific Corp		4.000		03/01/29		5,133
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		22,604
	5,350,000		Cigna Corp		2.400		03/15/30		5,061
	5,075,000		Cigna Corp		3.200		03/15/40		4,648
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,929
	4,105,000		Dartmouth-Hitchcock Health		4.178		08/01/48		4,523
EUR	500,000		DH Europe Finance Sarl		1.200		06/30/27		531
$	4,225,000		HCA, Inc		5.625		09/01/28		4,422
	5,000,000		HCA, Inc		5.500		06/15/47		5,445
	12,500,000		Mercy Health		3.382		11/01/25		13,121
	5,000,000		New York and Presbyterian Hospital		3.563		08/01/36		5,296
EUR	500,000		Stryker Corp		2.125		11/30/27		579
	450,000		Stryker Corp		2.625		11/30/30		536
$	2,975,000		Thermo Fisher Scientific, Inc		4.133		03/25/25		3,188
	5,350,000		Thermo Fisher Scientific, Inc		2.950		09/19/26		5,415
EUR	300,000		Thermo Fisher Scientific, Inc		1.950		07/24/29		333
	325,000		Thermo Fisher Scientific, Inc		2.875		07/24/37		374
$	5,775,000		UnitedHealth Group, Inc		2.950		10/15/27		6,055
	4,625,000		UnitedHealth Group, Inc		3.750		10/15/47		5,171
	2,150,000		Zimmer Biomet Holdings, Inc		3.700		03/19/23		2,203
	3,745,000		Zimmer Biomet Holdings, Inc		3.550		04/01/25		3,770
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						126,794
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	1,050,000		Ecolab, Inc		4.800		03/24/30		1,195
EUR	600,000		The Procter & Gamble Company		0.625		10/30/24		661
	400,000		The Procter & Gamble Company		1.875		10/30/38		469
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						2,325
INSURANCE - 1.0%
$	1,925,000		Aetna, Inc		6.625		06/15/36		2,448

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	3,025,000		Aflac, Inc			3.600	%	04/01/30	$	3,062
	5,500,000		Allstate Corp			3.850		08/10/49		6,056
	2,700,000		American Financial Group, Inc			3.500		08/15/26		2,570
	9,025,000		American International Group, Inc			3.900		04/01/26		9,403
	2,875,000		American International Group, Inc			4.200		04/01/28		3,017
	6,650,000		Aon Corp			3.750		05/02/29		7,015
	12,975,000		Aon plc			3.500		06/14/24		13,550
	3,250,000		AXIS Specialty Finance LLC			4.900		01/15/40		2,746
	2,275,000		Berkshire Hathaway Finance Corp			1.850		03/12/30		2,211
	2,400,000		Berkshire Hathaway Finance Corp			4.250		01/15/49		2,956
	3,650,000	g	Centene Corp			4.250		12/15/27		3,657
	6,250,000		Chubb INA Holdings, Inc			2.875		11/03/22		6,343
EUR	450,000		Chubb INA Holdings, Inc			0.875		06/15/27		457
	500,000		Chubb INA Holdings, Inc			1.550		03/15/28		529
	450,000		Chubb INA Holdings, Inc			1.400		06/15/31		446
$	3,525,000		CNA Financial Corp			3.950		05/15/24		3,662
	3,050,000		CNA Financial Corp			3.450		08/15/27		2,825
	900,000		CNA Financial Corp			3.900		05/01/29		898
	5,665,000	g,i	Cranberry RE Ltd	LIBOR 6 M + 1.980%		2.324		07/13/20		5,566
EUR	250,000	g	Fairfax Financial Holdings Ltd			2.750		03/29/28		265
$	5,575,000	g	Five Corners Funding Trust			4.419		11/15/23		5,997
	5,500,000		Hartford Financial Services Group, Inc			2.800		08/19/29		5,354
	1,350,000		Hartford Financial Services Group, Inc			4.300		04/15/43		1,401
	3,375,000		Hartford Financial Services Group, Inc			3.600		08/19/49		3,167
	6,250,000		Humana, Inc			3.950		03/15/27		6,358
	728,000	g	Liberty Mutual Group, Inc			4.250		06/15/23		741
EUR	750,000		Liberty Mutual Group, Inc			2.750		05/04/26		829
$	2,572,000	g	Liberty Mutual Group, Inc			4.569		02/01/29		2,845
	1,350,000	g	Liberty Mutual Group, Inc			4.500		06/15/49		1,314
	2,425,000		Lincoln National Corp			3.800		03/01/28		2,415
	3,250,000		Markel Corp			3.500		11/01/27		2,964
	1,600,000		Marsh & McLennan Cos, Inc			3.500		06/03/24		1,635
	1,365,000		Marsh & McLennan Cos, Inc			3.500		03/10/25		1,415
	4,325,000		MetLife, Inc			3.600		11/13/25		4,523
	600,000		Principal Financial Group, Inc			3.700		05/15/29		620
	2,500,000		Prudential Financial, Inc			3.905		12/07/47		2,417
	3,000,000	g	Prudential Funding LLC			6.750		09/15/23		3,336
	4,150,000		Reinsurance Group of America, Inc			3.900		05/15/29		4,052
	1,250,000		Verisk Analytics, Inc			4.125		03/15/29		1,319
	7,750,000	g,i	Vitality Re IX Ltd			1.610		01/10/22		6,587
	3,500,000	g,i	Vitality Re X Ltd			1.760		01/10/23		2,975
	1,000,000		Voya Financial, Inc			5.700		07/15/43		1,163
	2,400,000		WR Berkley Corp			5.375		09/15/20		2,404
			TOTAL INSURANCE							145,513
MATERIALS - 0.6%
	5,450,000	g	Anglo American Capital plc			5.625		04/01/30		5,533
	175,000	g	Arconic Rolled Products Corp			6.125		02/15/28		179
EUR	850,000	g	Axalta Coating Systems Dutch Holding B BV			3.750		01/15/25		848
	250,000		Ball Corp			4.375		12/15/23		287
	425,000		Ball Corp			0.875		03/15/24		437
$	852,000	g	Bemis Co, Inc			3.100		09/15/26		807
	200,000		Celulosa Arauco y Constitucion S.A.			3.875		11/02/27		173
	3,000,000	g	Celulosa Arauco y Constitucion S.A.			4.250		04/30/29		2,527
	1,650,000	g	Celulosa Arauco y Constitucion S.A.			4.200		01/29/30		1,415

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,500,000	g	Celulosa Arauco y Constitucion S.A.		5.150	%	01/29/50	$	1,968
	2,500,000	g	Cemex SAB de C.V.		5.450		11/19/29		2,029
	3,900,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.625		08/01/27		3,816
	3,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.150		01/14/30		2,777
	2,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.700		01/30/50		1,725
	4,000,000		DowDuPont, Inc		4.725		11/15/28		4,388
	7,225,000		DowDuPont, Inc		5.319		11/15/38		8,123
	1,950,000	g	Industrias Penoles SAB de C.V.		4.150		09/12/29		1,722
EUR	350,000	g	INEOS Finance plc		2.875		05/01/26		347
$	11,275,000		International Paper Co		4.350		08/15/48		10,917
	3,000,000	g	Inversiones CMPC S.A.		4.375		04/04/27		2,798
	1,500,000	g	Inversiones CMPC S.A.		3.850		01/13/30		1,350
	5,500,000		LYB International Finance III LLC		4.200		10/15/49		5,397
	5,800,000	g	Midwest Connector Capital Co LLC		3.900		04/01/24		5,415
	5,800,000	g	Midwest Connector Capital Co LLC		4.625		04/01/29		5,591
	4,000,000		Newmont Corp		2.250		10/01/30		3,683
	2,000,000	g	Nova Chemicals Corp		4.875		06/01/24		1,755
	4,767,000		Nutrien Ltd		3.375		03/15/25		4,854
EUR	125,000	g	OCI NV		5.000		04/15/23		130
$	500,000	g	OCI NV		6.625		04/15/23		455
EUR	375,000	g	OCI NV		3.125		11/01/24		364
$	525,000	g	OCI NV		5.250		11/01/24		451
EUR	250,000	g	OI European Group BV		3.125		11/15/24		260
$	350,000	g	POSCO		2.500		01/17/25		337
	2,550,000	g	SABIC Capital II BV		4.000		10/10/23		2,530
	1,300,000		SASOL Financing USA LLC		6.500		09/27/28		533
EUR	750,000		Silgan Holdings, Inc		3.250		03/15/25		807
$	1,925,000		Suzano Austria GmbH		6.000		01/15/29		1,795
			TOTAL MATERIALS						88,523
MEDIA & ENTERTAINMENT - 1.7%
EUR	200,000	g	Ashland Services BV		2.000		01/30/28		191
$	1,775,000	g	Cable Onda S.A.		4.500		01/30/30		1,562
	5,225,000		Charter Communications Operating LLC		3.579		07/23/20		5,209
	8,000,000		Charter Communications Operating LLC		3.750		02/15/28		8,044
	8,350,000		Charter Communications Operating LLC		4.200		03/15/28		8,571
	6,150,000		Charter Communications Operating LLC		5.125		07/01/49		6,542
	5,500,000		Charter Communications Operating LLC		4.800		03/01/50		5,731
	7,200,000		Comcast Corp		3.700		04/15/24		7,728
	11,800,000		Comcast Corp		3.950		10/15/25		12,992
	10,650,000		Comcast Corp		2.350		01/15/27		10,610
EUR	450,000		Comcast Corp		0.250		05/20/27		464
$	5,750,000		Comcast Corp		3.150		02/15/28		6,016
	26,850,000		Comcast Corp		4.150		10/15/28		30,567
	11,875,000		Comcast Corp		2.650		02/01/30		12,231
	5,000,000		Comcast Corp		3.400		04/01/30		5,417
	18,200,000		Comcast Corp		3.200		07/15/36		19,214
	3,000,000		Comcast Corp		3.900		03/01/38		3,372
	21,350,000		Comcast Corp		3.450		02/01/50		23,427
	1,500,000	g	CSC Holdings LLC		7.500		04/01/28		1,598
	1,675,000	g	Diamond Sports Group LLC		5.375		08/15/26		1,361
	4,000,000		Discovery Communications LLC		2.950		03/20/23		3,992
GBP	300,000		Discovery Communications LLC		2.500		09/20/24		366

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	6,850,000		Discovery Communications LLC		4.125	%	05/15/29	$	6,639
	6,400,000		Discovery Communications LLC		5.200		09/20/47		6,541
	1,895,000		Grupo Televisa SAB		6.625		01/15/40		2,219
	650,000	g	Lamar Media Corp		3.750		02/15/28		609
	4,000,000	g	Medco Bell Pte Ltd		6.375		01/30/27		2,319
	10,350,000		NBC Universal Media LLC		2.875		01/15/23		10,650
	1,650,000	g	TEGNA, Inc		4.625		03/15/28		1,450
	250,000	g	Tencent Holdings Ltd		3.975		04/11/29		277
	5,675,000		Time Warner Cable LLC		5.875		11/15/40		5,980
	4,075,000		Time Warner Cable LLC		4.500		09/15/42		3,831
	1,750,000		ViacomCBS, Inc		2.900		06/01/23		1,666
	4,200,000		ViacomCBS, Inc		2.900		01/15/27		4,056
	2,500,000		ViacomCBS, Inc		3.375		02/15/28		2,221
	2,250,000		ViacomCBS, Inc		4.375		03/15/43		1,996
	1,150,000		ViacomCBS, Inc		5.850		09/01/43		1,179
	5,500,000		Walt Disney Co		3.700		03/23/27		6,082
	2,105,000		Walt Disney Co		7.625		11/30/28		2,771
	8,225,000		Walt Disney Co		2.000		09/01/29		8,024
	1,578,000		Walt Disney Co		6.550		03/15/33		2,246
			TOTAL MEDIA & ENTERTAINMENT						245,961
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 1.5%
EUR	400,000		Abbott Ireland Financing DAC		0.875		09/27/23		439
	400,000		Abbott Ireland Financing DAC		1.500		09/27/26		444
$	4,750,000		Abbott Laboratories		3.875		09/15/25		5,129
	11,022,000		Abbott Laboratories		3.750		11/30/26		12,304
	2,250,000		Abbott Laboratories		5.300		05/27/40		2,964
	3,500,000		AbbVie, Inc		2.850		05/14/23		3,548
	1,700,000		AbbVie, Inc		3.600		05/14/25		1,791
	24,300,000	g	AbbVie, Inc		2.950		11/21/26		24,758
	9,075,000	g	AbbVie, Inc		3.200		11/21/29		9,258
	12,850,000	g	AbbVie, Inc		4.050		11/21/39		13,476
	6,700,000		AbbVie, Inc		4.400		11/06/42		7,445
	2,680,000		AbbVie, Inc		4.450		05/14/46		2,848
	4,525,000	g	AbbVie, Inc		4.250		11/21/49		4,881
EUR	550,000		Allergan Funding SCS		1.250		06/01/24		607
$	8,700,000		Allergan Funding SCS		3.800		03/15/25		8,909
EUR	350,000		Allergan Funding SCS		2.625		11/15/28		399
$	5,650,000		AstraZeneca plc		3.125		06/12/27		5,659
	325,000	g	Bausch Health Cos, Inc		5.000		01/30/28		308
	2,900,000	g	Bristol-Myers Squibb Co		2.900		07/26/24		3,073
EUR	325,000		Bristol-Myers Squibb Co		1.000		05/15/25		360
$	2,900,000	g	Bristol-Myers Squibb Co		3.875		08/15/25		3,146
	13,600,000	g	Bristol-Myers Squibb Co		3.450		11/15/27		14,488
	18,425,000	g	Bristol-Myers Squibb Co		3.400		07/26/29		20,247
	16,500,000	g	Bristol-Myers Squibb Co		4.250		10/26/49		20,678
	1,775,000		Gilead Sciences, Inc		4.000		09/01/36		2,010
	5,075,000		Gilead Sciences, Inc		4.150		03/01/47		6,203
	5,650,000		Johnson & Johnson		2.450		03/01/26		6,039
	3,950,000		Johnson & Johnson		2.900		01/15/28		4,339
	3,750,000		Johnson & Johnson		3.400		01/15/38		4,339
	5,750,000		Mylan, Inc		4.550		04/15/28		5,629
	9,600,000		Novartis Capital Corp		3.000		11/20/25		10,186
EUR	400,000	g	Takeda Pharmaceutical Co Ltd		0.375		11/21/20		441

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
EUR	1,200,000	g	Takeda Pharmaceutical Co Ltd		1.125	%	11/21/22	$	1,320
	400,000	g	Takeda Pharmaceutical Co Ltd		3.000		11/21/30		460
$	11,000,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		9,266
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						217,391
REAL ESTATE - 1.8%
	1,675,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		1,677
	2,300,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		2,356
	5,500,000		Alexandria Real Estate Equities, Inc		4.900		12/15/30		5,975
	5,950,000		American Tower Corp		3.000		06/15/23		5,957
	5,775,000		American Tower Corp		2.950		01/15/25		5,768
EUR	600,000		American Tower Corp		1.950		05/22/26		673
$	2,418,000		American Tower Corp		3.375		10/15/26		2,418
	10,000,000		American Tower Corp		2.750		01/15/27		9,678
	1,600,000		American Tower Corp		3.600		01/15/28		1,599
	8,850,000		American Tower Corp		3.800		08/15/29		9,034
	13,700,000		American Tower Corp		2.900		01/15/30		13,332
	5,575,000		Brandywine Operating Partnership LP		4.100		10/01/24		5,547
	5,825,000		Brixmor Operating Partnership LP		3.850		02/01/25		5,748
	1,950,000		Camden Property Trust		3.150		07/01/29		1,922
	3,911,000		Crown Castle International Corp		4.875		04/15/22		4,106
	1,700,000		Crown Castle International Corp		3.650		09/01/27		1,694
	1,825,000		Crown Castle International Corp		3.800		02/15/28		1,828
	3,075,000		Digital Realty Trust LP		3.700		08/15/27		2,972
	1,600,000		Duke Realty LP		3.250		06/30/26		1,599
	2,525,000		Duke Realty LP		4.000		09/15/28		2,618
	2,754,000		Essex Portfolio LP		3.375		01/15/23		2,757
	9,100,000		Essex Portfolio LP		3.000		01/15/30		8,626
	1,625,000		Healthcare Realty Trust, Inc		3.750		04/15/23		1,623
	6,600,000		Healthcare Realty Trust, Inc		3.875		05/01/25		6,898
	3,000,000		Healthcare Realty Trust, Inc		3.625		01/15/28		3,009
	1,750,000		Healthcare Realty Trust, Inc		2.400		03/15/30		1,554
	3,550,000		Healthcare Trust of America Holdings LP		3.700		04/15/23		3,434
	6,250,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		6,181
	11,400,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		10,195
	3,500,000		Healthpeak Properties, Inc		4.250		11/15/23		3,307
	9,200,000		Healthpeak Properties, Inc		3.500		07/15/29		8,999
	7,950,000		Highwoods Realty LP		3.875		03/01/27		7,922
	2,900,000		Highwoods Realty LP		4.125		03/15/28		3,118
	2,875,000		Highwoods Realty LP		4.200		04/15/29		2,943
	6,000,000		Highwoods Realty LP		3.050		02/15/30		5,425
	1,833,000		Hudson Pacific Properties LP		3.950		11/01/27		1,746
	800,000		iStar, Inc		4.750		10/01/24		672
	5,224,000		Mid-America Apartments LP		4.300		10/15/23		5,194
	5,525,000		Mid-America Apartments LP		3.750		06/15/24		5,444
	4,300,000		Mid-America Apartments LP		4.000		11/15/25		4,477
	3,575,000		Mid-America Apartments LP		3.600		06/01/27		3,598
	11,100,000		Mid-America Apartments LP		2.750		03/15/30		10,279
	5,425,000		National Retail Properties, Inc		3.300		04/15/23		5,469
	2,575,000		National Retail Properties, Inc		4.000		11/15/25		2,652
	3,000,000		National Retail Properties, Inc		3.600		12/15/26		3,003
EUR	360,000		ProLogis Euro Finance LLC		0.375		02/06/28		359
	350,000		ProLogis LP		3.000		06/02/26		426

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,700,000		ProLogis LP		4.375	%	02/01/29	$	3,032
	2,750,000		Regency Centers Corp		3.750		11/15/22		2,695
	7,225,000		Regency Centers LP		3.900		11/01/25		7,394
	4,750,000		Regency Centers LP		3.600		02/01/27		4,784
	5,500,000		Regency Centers LP		2.950		09/15/29		5,185
	2,968,000		SITE Centers Corp		3.625		02/01/25		3,006
	350,000		SITE Centers Corp		4.700		06/01/27		362
	775,000	g	VICI Properties LP		3.500		02/15/25		716
	1,170,000		Weingarten Realty Investors		3.375		10/15/22		1,200
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,909
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,241
	3,950,000		Weingarten Realty Investors		3.850		06/01/25		4,136
	1,300,000		Weingarten Realty Investors		3.250		08/15/26		1,222
			TOTAL REAL ESTATE						247,693
RETAILING - 0.4%
	2,950,000		AutoNation, Inc		3.800		11/15/27		2,617
	100,000	g	Camelot Finance S.A.		4.500		11/01/26		97
	8,850,000		Home Depot, Inc		2.000		04/01/21		8,862
	350,000		JD.com, Inc		3.375		01/14/30		349
	875,000	g	Lithia Motors, Inc		4.625		12/15/27		788
	5,100,000		O’Reilly Automotive, Inc		3.550		03/15/26		5,153
	6,875,000		O’Reilly Automotive, Inc		3.600		09/01/27		6,606
	4,075,000		O’Reilly Automotive, Inc		4.200		04/01/30		4,220
	1,500,000	g	PetSmart, Inc		5.875		06/01/25		1,478
	900,000	g	PetSmart, Inc		8.875		06/01/25		815
	750,000		QVC, Inc		4.750		02/15/27		664
	4,500,000		Target Corp		3.375		04/15/29		4,863
	13,275,000		Target Corp		2.350		02/15/30		13,368
	1,350,000		Target Corp		2.650		09/15/30		1,382
			TOTAL RETAILING						51,262
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.4%
	15,640,000		Intel Corp		2.875		05/11/24		16,388
	4,800,000		Intel Corp		2.600		05/19/26		5,072
	7,325,000		Intel Corp		3.750		03/25/27		8,054
	2,500,000		Intel Corp		3.734		12/08/47		2,920
	5,250,000	g	NXP BV		4.875		03/01/24		5,605
	5,800,000	g	NXP BV		3.875		06/18/26		5,641
	3,475,000		Texas Instruments, Inc		2.625		05/15/24		3,624
	2,500,000		Texas Instruments, Inc		2.250		09/04/29		2,523
	3,100,000		Texas Instruments, Inc		4.150		05/15/48		3,834
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						53,661
SOFTWARE & SERVICES - 1.3%
	4,175,000		Activision Blizzard, Inc		2.300		09/15/21		4,204
	4,350,000		Activision Blizzard, Inc		3.400		09/15/26		4,587
	10,050,000		Adobe, Inc		2.300		02/01/30		10,047
	2,800,000		Baidu, Inc		2.875		07/06/22		2,800
	1,725,000		Baidu, Inc		4.375		05/14/24		1,822
GBP	150,000		Fidelity National Information Services, Inc		1.700		06/30/22		184
EUR	375,000		Fidelity National Information Services, Inc		1.100		07/15/24		411

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,750,000		Fidelity National Information Services, Inc		3.750	%	05/21/29	$	4,081
	14,800,000		Fiserv, Inc		2.750		07/01/24		14,716
	17,250,000		Fiserv, Inc		3.500		07/01/29		18,253
	4,725,000		Global Payments, Inc		2.650		02/15/25		4,683
	10,275,000		Global Payments, Inc		3.200		08/15/29		10,038
	1,950,000		IHS Markit Ltd		4.125		08/01/23		2,029
	3,175,000		IHS Markit Ltd		4.250		05/01/29		3,358
	12,600,000		International Business Machines Corp		2.850		05/13/22		12,942
	25,850,000		International Business Machines Corp		3.500		05/15/29		28,221
EUR	400,000		International Business Machines Corp		0.650		02/11/32		394
$	26,300,000		Microsoft Corp		2.400		08/08/26		27,814
	3,750,000		Microsoft Corp		4.100		02/06/37		4,578
	5,850,000		Microsoft Corp		3.700		08/08/46		6,939
	550,000	g	Open Text Holdings, Inc		4.125		02/15/30		517
	11,000,000		Oracle Corp		2.950		04/01/30		11,066
	7,450,000		Oracle Corp		3.600		04/01/40		7,416
	175,000	g	Presidio Holdings, Inc		4.875		02/01/27		158
	2,775,000	g	Prosus NV		3.680		01/21/30		2,511
	2,425,000		salesforce.com, Inc		3.700		04/11/28		2,677
			TOTAL SOFTWARE & SERVICES						186,446
TECHNOLOGY HARDWARE & EQUIPMENT - 1.0%
$	7,025,000		Amphenol Corp		2.800		02/15/30		6,396
EUR	675,000		Amphenol Technologies Holding GmbH		2.000		10/08/28		788
$	8,075,000		Apple, Inc		2.450		08/04/26		8,461
	36,100,000		Apple, Inc		2.050		09/11/26		37,238
EUR	750,000		Apple, Inc		1.375		05/24/29		859
$	4,525,000		Apple, Inc		4.650		02/23/46		6,265
	19,975,000		Broadcom Corp		3.875		01/15/27		19,042
	19,750,000		Cisco Systems, Inc		1.850		09/20/21		19,887
	2,600,000	g	CommScope, Inc		5.500		06/15/24		2,401
	2,075,000		Corning, Inc		4.375		11/15/57		2,157
	13,175,000	g	Dell International LLC		4.420		06/15/21		13,316
	7,050,000	g	Dell International LLC		5.300		10/01/29		6,857
	3,645,000	g	Empresas Publicas de Medellin ESP		4.250		07/18/29		3,107
	3,150,000	g	L3Harris Technologies, Inc		3.850		06/15/23		3,277
	2,925,000		L3Harris Technologies, Inc		2.900		12/15/29		2,764
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		6,763
EUR	400,000		Tyco Electronics Group S.A.		1.100		03/01/23		448
$	2,175,000		Tyco Electronics Group S.A.		3.700		02/15/26		2,213
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						142,239
TELECOMMUNICATION SERVICES - 2.2%
	4,936,000		AT&T, Inc		3.000		06/30/22		4,978
EUR	300,000		AT&T, Inc		1.300		09/05/23		332
$	18,025,000		AT&T, Inc		3.400		05/15/25		18,643
	3,900,000		AT&T, Inc		3.600		07/15/25		4,050
	4,045,000		AT&T, Inc		2.950		07/15/26		3,979
	7,500,000		AT&T, Inc		3.800		02/15/27		7,793
	40,275,000		AT&T, Inc		4.350		03/01/29		43,305
EUR	500,000		AT&T, Inc		2.350		09/05/29		567
$	36,650,000		AT&T, Inc		4.300		02/15/30		39,447
	9,000,000		AT&T, Inc		4.500		05/15/35		9,812

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	14,525,000		AT&T, Inc		4.500	%	03/09/48	$	15,763
	10,000,000		AT&T, Inc		4.550		03/09/49		10,762
	2,000,000	g	Bharti Airtel International Netherlands BV		5.350		05/20/24		1,948
	2,000,000	g	Bharti Airtel Ltd		4.375		06/10/25		1,842
	3,000,000	g	C&W Senior Financing Designated Activity Co		6.875		09/15/27		2,587
	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		5,456
	1,325,000	g	Front Range BidCo, Inc		4.000		03/01/27		1,268
	1,700,000	g	Globo Comunicacao e Participacoes S.A.		4.875		01/22/30		1,453
	4,000,000	g	MTN Mauritius Investment Ltd		6.500		10/13/26		3,811
	698,000	o	Oi S.A.		10.000		07/27/25		476
	3,950,000		Orange S.A.		5.375		01/13/42		5,057
	3,800,000		Rogers Communications, Inc		3.700		11/15/49		3,931
	2,125,000		Telefonica Emisiones SAU		4.103		03/08/27		2,204
	2,400,000	g	Turk Telekomunikasyon AS.		6.875		02/28/25		2,233
	577,000		Verizon Communications, Inc		3.376		02/15/25		619
EUR	400,000		Verizon Communications, Inc		1.375		10/27/26		438
$	3,000,000		Verizon Communications, Inc		4.125		03/16/27		3,338
	17,642,000		Verizon Communications, Inc		4.329		09/21/28		20,331
	25,925,000		Verizon Communications, Inc		3.875		02/08/29		29,019
EUR	400,000		Verizon Communications, Inc		1.875		10/26/29		447
$	10,000,000		Verizon Communications, Inc		4.016		12/03/29		11,274
	30,220,000		Verizon Communications, Inc		4.272		01/15/36		35,305
EUR	300,000		Verizon Communications, Inc		2.875		01/15/38		336
	500,000	g	Virgin Media Finance plc		4.500		01/15/25		514
$	8,700,000		Vodafone Group plc		4.375		05/30/28		9,147
	7,000,000		Vodafone Group plc		4.250		09/17/50		7,195
			TOTAL TELECOMMUNICATION SERVICES						309,660
TRANSPORTATION - 1.0%
	4,850,000	g	Adani Ports & Special Economic Zone Ltd		4.000		07/30/27		3,857
	9,850,000		Boeing Co		2.950		02/01/30		9,122
	3,700,000		Boeing Co		3.750		02/01/50		3,379
	5,175,000		Burlington Northern Santa Fe LLC		3.550		02/15/50		5,666
	3,700,000		Canadian Pacific Railway Co		2.050		03/05/30		3,436
	2,040,000		CSX Corp		2.600		11/01/26		2,078
	7,125,000		CSX Corp		3.250		06/01/27		7,318
	3,500,000		CSX Corp		3.800		03/01/28		3,717
	23,495,000		CSX Corp		4.250		03/15/29		26,362
	10,650,000		CSX Corp		2.400		02/15/30		10,488
	1,500,000		CSX Corp		4.300		03/01/48		1,646
	7,925,000		CSX Corp		3.350		09/15/49		7,505
	6,100,000		Delta Air Lines, Inc		3.800		04/19/23		5,732
	9,250,000		Delta Air Lines, Inc		2.900		10/28/24		7,404
	4,575,000		Delta Air Lines, Inc		3.750		10/28/29		3,687
	1,450,000	g	DP World Ltd		5.625		09/25/48		1,211
EUR	400,000		FedEx Corp		1.000		01/11/23		432
	325,000		FedEx Corp		1.625		01/11/27		339
$	23,750,000		FedEx Corp		3.100		08/05/29		23,343
	1,975,000	g	Indian Railway Finance Corp Ltd		3.249		02/13/30		1,776
	1,350,000	g	Lima Metro Line 2 Finance Ltd		4.350		04/05/36		1,272
	225,000	g	Pelabuhan Indonesia III Persero PT		4.500		05/02/23		224
EUR	500,000		RELX Capital, Inc		1.300		05/12/25		559
$	6,150,000		Union Pacific Corp		3.950		09/10/28		6,602
	6,125,000	g	Union Pacific Corp		3.839		03/20/60		6,555
			TOTAL TRANSPORTATION						143,710

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
UTILITIES - 2.7%
$	1,975,000	g	Adani Transmission Ltd		4.250	%	05/21/36	$	1,778
	1,650,000		AEP Transmission Co LLC		3.100		12/01/26		1,715
	1,650,000		AEP Transmission Co LLC		4.000		12/01/46		1,670
	1,526,000		AES Corp		4.875		05/15/23		1,469
	3,475,000		Alabama Power Co		4.150		08/15/44		3,265
	7,000,000		Alabama Power Co		3.450		10/01/49		7,123
	2,750,000		American Water Capital Corp		3.000		12/01/26		2,758
	2,375,000		American Water Capital Corp		4.000		12/01/46		2,406
	7,175,000		American Water Capital Corp		3.750		09/01/47		7,190
	1,175,000		Atmos Energy Corp		4.125		10/15/44		1,277
	6,500,000		Baltimore Gas & Electric Co		3.750		08/15/47		7,033
	5,500,000		Baltimore Gas & Electric Co		3.200		09/15/49		5,242
	5,925,000		Berkshire Hathaway Energy Co		3.250		04/15/28		6,129
	6,225,000		Black Hills Corp		4.250		11/30/23		6,530
	1,575,000		Black Hills Corp		3.150		01/15/27		1,681
	3,670,000		CenterPoint Energy Resources Corp		4.500		01/15/21		3,701
	3,550,000		CenterPoint Energy Resources Corp		6.250		02/01/37		4,376
	4,675,000		CMS Energy Corp		3.600		11/15/25		5,182
	4,200,000		Commonwealth Edison Co		5.900		03/15/36		4,970
	5,000,000		Commonwealth Edison Co		3.000		03/01/50		4,711
	3,325,000		Consumers Energy Co		3.500		08/01/51		3,577
	4,125,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		4,008
	3,775,000		Dominion Resources, Inc		2.000		08/15/21		3,753
	5,950,000	q	DTE Electric Co		2.625		03/01/31		5,940
	5,750,000		DTE Electric Co		3.750		08/15/47		6,066
	6,000,000		DTE Electric Co		2.950		03/01/50		5,597
	1,400,000		Duke Energy Carolinas LLC		4.300		06/15/20		1,405
	5,825,000		Duke Energy Corp		1.800		09/01/21		5,785
	8,675,000		Duke Energy Corp		2.650		09/01/26		8,609
	5,000,000		Duke Energy Florida LLC		3.400		10/01/46		5,164
	1,782,959		Duke Energy Florida Project Finance LLC		1.731		09/01/22		1,804
	11,425,000		Duke Energy Indiana LLC		2.750		04/01/50		10,519
	1,450,000		Duke Energy Ohio, Inc		3.800		09/01/23		1,531
	3,200,000		Enel Chile S.A.		4.875		06/12/28		3,155
	5,700,000		Entergy Corp		2.950		09/01/26		5,650
	3,000,000	g	Eskom Holdings SOC Ltd		5.750		01/26/21		2,536
	7,000,000		Eversource Energy		3.450		01/15/50		6,306
	2,475,000		Exelon Corp		4.050		04/15/30		2,451
	9,450,000		Exelon Generation Co LLC		3.400		03/15/22		9,556
	925,000		Florida Power & Light Co		2.850		04/01/25		973
	5,775,000		Florida Power & Light Co		3.990		03/01/49		6,513
	4,550,000		Florida Power & Light Co		3.150		10/01/49		4,720
	3,600,000		Indiana Michigan Power Co		3.750		07/01/47		3,752
	2,725,000		Integrys Energy Group, Inc		4.170		11/01/20		2,743
	4,525,000	g	Israel Electric Corp Ltd		4.250		08/14/28		4,558
	350,000	g	Kallpa Generacion SA		4.125		08/16/27		314
	3,475,000	g	KazTransGas JSC		4.375		09/26/27		3,113
	3,675,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		3,914
	5,000,000		LG&E and KU Energy LLC		3.750		11/15/20		4,966
	6,975,000		MidAmerican Energy Co		3.650		04/15/29		7,619
	6,150,000		MidAmerican Energy Co		3.650		08/01/48		6,601

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,000,000	g	Minejesa Capital BV		4.625	%	08/10/30	$	2,679
	3,350,000		Nevada Power Co		2.400		05/01/30		3,198
	3,335,000		Nevada Power Co		5.450		05/15/41		3,964
	14,375,000		NextEra Energy Capital Holdings, Inc		2.750		11/01/29		13,875
	7,100,000		NiSource, Inc		3.490		05/15/27		7,184
	3,600,000		Northern States Power Co		2.900		03/01/50		3,547
	1,675,000		NSTAR Electric Co		3.950		04/01/30		1,875
EUR	230,000		NTPC Ltd		2.750		02/01/27		265
$	3,600,000		Ohio Power Co		2.600		04/01/30		3,601
	6,150,000		Ohio Power Co		4.150		04/01/48		6,462
	6,150,000		Ohio Power Co		4.000		06/01/49		6,347
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,648
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,533
	2,775,000		PECO Energy Co		3.000		09/15/49		2,824
	1,500,000	g	Perusahaan Gas Negara Persero Tbk PT		5.125		05/16/24		1,461
	3,000,000	g	Perusahaan Listrik Negara PT		4.125		05/15/27		2,891
	650,000	g	Perusahaan Listrik Negara PT		3.875		07/17/29		604
	3,000,000	g	Perusahaan Listrik Negara PT		3.375		02/05/30		2,730
	200,000	g	Perusahaan Listrik Negara PT		4.875		07/17/49		191
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,087
	4,300,000		PPL Capital Funding, Inc		3.950		03/15/24		4,435
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,017
	2,925,000	g	Promigas S.A. ESP		3.750		10/16/29		2,374
	9,725,000		PSEG Power LLC		3.850		06/01/23		9,892
	3,000,000		Public Service Co of Colorado		4.050		09/15/49		3,399
	4,450,000		Public Service Co of Colorado		3.200		03/01/50		4,503
	2,825,000		Public Service Electric & Gas Co		3.200		08/01/49		2,822
	8,475,000		Southern Co Gas Capital Corp		3.875		11/15/25		8,886
	2,125,000		Southern Co Gas Capital Corp		4.400		06/01/43		2,206
	2,000,000		Southern Co Gas Capital Corp		3.950		10/01/46		1,789
	8,250,000		Southern Power Co		2.500		12/15/21		8,126
	7,825,000		Southern Power Co		4.150		12/01/25		8,069
	2,440,000		Southwestern Public Service Co		3.400		08/15/46		2,440
	3,680,000		Virginia Electric & Power Co		2.950		01/15/22		3,708
	3,250,000		Virginia Electric & Power Co		2.950		11/15/26		3,348
	3,250,000		Virginia Electric & Power Co		3.500		03/15/27		3,403
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,374
	2,975,000		Xcel Energy, Inc		3.350		12/01/26		2,938
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		3,116
			TOTAL UTILITIES						375,215
			TOTAL CORPORATE BONDS						4,935,484
			(Cost $4,924,552)
GOVERNMENT BONDS -  38.7%
AGENCY SECURITIES - 2.0%
	3,689,910		AMAL Ltd		3.465		08/21/21		3,746
	2,500,000		Amber Circle Funding Ltd		3.250		12/04/22		2,624
	3,637,000		Canal Barge Co, Inc		4.500		11/12/34		4,374
	35,612,425		CES MU2 LLC		1.994		05/13/27		36,417
	5,500,000		DY8 Leasing LLC		2.627		04/29/26		5,712
	8,343,467		DY9 Leasing LLC		2.372		03/19/27		8,645
	3,238,432		Export Lease Ten Co LLC		1.650		05/07/25		3,260

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	912,584		Helios Leasing I LLC		2.018	%	05/29/24	$	927
	9,666,882		Helios Leasing II LLC		2.668		03/18/25		9,987
	10,487,831		HNA LLC		2.291		06/30/27		10,860
	11,395,000		Lutheran Medical Center		1.982		02/20/30		11,410
	6,985,000		Montefiore Medical Center		2.152		10/20/26		7,310
	2,682,030		MSN 41079 and 41084 Ltd		1.631		12/14/24		2,700
	11,607,143		Overseas Private Investment Corp (OPIC)		3.520		09/20/32		13,271
	3,047,561		Premier Aircraft Leasing		3.576		02/06/22		3,110
	24,000,000	g	Private Export Funding Corp (PEFCO)		3.266		11/08/21		24,775
	35,000,000		PEFCO		4.300		12/15/21		37,157
	25,747,000		PEFCO		2.050		11/15/22		26,550
	8,225,000		PEFCO		1.750		11/15/24		8,572
	3,000,000	g	Reliance Industries Ltd		3.667		11/30/27		2,821
	2,531,340		Santa Rosa Leasing LLC		1.693		08/15/24		2,555
	24,112,851		Tagua Leasing LLC		1.900		07/12/24		24,501
	1,270,342		Union 12 Leasing LLC		2.164		02/17/24		1,292
	11,655,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		11,857
	6,194,020		Windermere Aviation LLC		2.351		05/27/26		6,395
	14,325,524		Zarapito Leasing LLC		2.628		11/12/26		14,951
			TOTAL AGENCY SECURITIES						285,779
FOREIGN GOVERNMENT BONDS - 5.7%
	4,000,000	g	Abu Dhabi Government International Bond		3.125		05/03/26		4,081
	2,000,000	g	Abu Dhabi Government International Bond		2.500		09/30/29		1,946
	5,400,000	g	Abu Dhabi Government International Bond		3.125		09/30/49		5,018
	3,575,000	g	Angolan Government International Bond		8.000		11/26/29		1,450
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,325
	1,010,000	†	Argentina Republic Government International Bond		5.625		01/26/22		293
NOK	7,000,000		Asian Development Bank		1.683		01/16/24		686
AUD	400,000		Australia Government International Bond		2.250		05/21/28		277
	800,000		Australia Government International Bond		3.000		03/21/47		639
$	3,000,000	g	Banque Ouest Africaine de Developpement		4.700		10/22/31		2,718
	3,450,000	g	Bermuda Government International Bond		3.717		01/25/27		3,286
	2,500,000	g	Bermuda Government International Bond		4.750		02/15/29		2,525
	3,120,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		3,129
BRL	3,220,000		Brazil Notas do Tesouro Nacional Serie F		10.000		01/01/29		708
	5,700,000		Brazilian Government International Bond		5.625		02/21/47		5,863
EUR	1,450,000		Bundesrepublik Deutschland Bundesanleihe		0.000		02/15/30		1,674
$	5,000,000	g	Caisse d’Amortissement de la Dette Sociale		2.000		04/17/20		5,003
	4,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		02/12/22		4,090
EUR	400,000		Caisse d’Amortissement de la Dette Sociale		1.375		11/25/24		474
CAD	1,300,000	g	Canada Housing Trust No 1		2.550		12/15/23		977
	3,350,000		Canadian Government International Bond		1.500		02/01/22		2,427
	1,000,000		Canadian Government International Bond		5.000		06/01/37		1,137
$	3,050,000		Chile Government International Bond		2.550		01/27/32		3,047
CNY	9,700,000		China Government International Bond		2.940		10/17/24		1,407
	27,200,000		China Government International Bond		3.120		12/05/26		3,965
	18,900,000		China Government International Bond		3.860		07/22/49		2,967
	7,650,000		Colombia Government International Bond		3.000		01/30/30		6,973
	2,100,000		Colombia Government International Bond		5.000		06/15/45		2,153
	4,100,000	g	Costa Rica Government International Bond		5.625		04/30/43		2,952
	20,200,000	g	CPPIB Capital, Inc		2.250		01/25/22		20,781
	16,400,000	g	CPPIB Capital, Inc		2.750		11/02/27		18,377

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
CZK	18,000,000		Czech Republic Government International Bond		0.450	%	10/25/23	$	712
DOP	48,650,000	g	Dominican Republic Government International Bond		8.900		02/15/23		842
$	2,000,000	g	Dominican Republic Government International Bond		6.500		02/15/48		1,760
	400,000	g	Ecuador Government International Bond		7.875		03/27/25		113
	2,275,000	g	Egypt Government International Bond		5.577		02/21/23		2,104
	500,000	g	Egypt Government International Bond		4.550		11/20/23		443
EGP	19,025,000		Egypt Government International Bond		15.900		07/02/24		1,283
	725,000	g	Egypt Government International Bond		7.600		03/01/29		649
EUR	1,100,000	g	Egypt Government International Bond		5.625		04/16/30		922
	700,000	g	Egypt Government International Bond		6.375		04/11/31		608
$	2,700,000	g	Egypt Government International Bond		8.500		01/31/47		2,201
	1,445,000	g	El Salvador Government International Bond		7.125		01/20/50		1,113
	10,000,000		European Investment Bank		2.500		04/15/21		10,207
	3,500,000		European Investment Bank		4.875		02/15/36		5,209
	15,000,000		Export Development Canada		2.000		11/30/20		15,120
	4,000,000	g	Export-Import Bank of India		3.875		02/01/28		3,682
EUR	1,100,000	g	Finland Government International Bond		0.500		09/15/29		1,277
	3,000,000		French Republic Government Bond OAT		0.500		05/25/25		3,454
	2,650,000		French Republic Government Bond OAT		0.750		11/25/28		3,136
	1,820,000		French Republic Government Bond OAT		1.250		05/25/34		2,277
	1,200,000	g	French Republic Government Bond OAT		2.000		05/25/48		1,739
$	2,325,000	g	Ghana Government International Bond		8.125		03/26/32		1,641
	1,000,000	g	Ghana Government International Bond		8.627		06/16/49		696
	3,600,000	g	Guatemala Government International Bond		4.500		05/03/26		3,492
	450,000	g	Guatemala Government International Bond		4.375		06/05/27		432
	600,000	g	Guatemala Government International Bond		6.125		06/01/50		596
EUR	3,350,000	g	Hellenic Republic Government International Bond		1.875		07/23/26		3,763
	1,500,000	g	Hellenic Republic Government International Bond		3.875		03/12/29		1,951
	3,625,000	g	Honduras Government International Bond		6.250		01/19/27		3,154
CAD	1,800,000		Hydro-Quebec		5.000		02/15/45		1,839
IDR	7,750,000,000		Indonesia Treasury Bond		8.125		05/15/24		489
	28,000,000,000		Indonesia Treasury Bond		7.000		09/15/30		1,605
	19,350,000,000		Indonesia Treasury Bond		7.500		05/15/38		1,075
AUD	500,000		Inter-American Development Bank		4.750		08/27/24		356
	900,000		Inter-American Development Bank		2.750		10/30/25		602
	1,300,000		International Bank for Reconstruction & Development		2.800		01/13/21		812
NZD	941,000		International Bank for Reconstruction & Development		3.375		01/25/22		585
AUD	400,000		International Bank for Reconstruction & Development		2.200		02/27/24		257
CAD	1,300,000		International Bank for Reconstruction & Development		1.900		01/16/25		956
$	2,050,000	g	Iraq Government International Bond		5.800		01/15/28		1,558
	6,200,000		Israel Government International Bond		3.250		01/17/28		6,576
ILS	3,100,000		Israel Government International Bond		5.500		01/31/42		1,421
	3,200,000		Israel Government International Bond		3.750		03/31/47		1,187
$	4,375,000		Israel Government International Bond		4.125		01/17/48		4,682
	550,000		Israel Government International Bond		3.875		07/03/50		550
EUR	900,000		Italy Buoni Poliennali Del Tesoro		0.350		06/15/20		993
	1,250,000		Italy Buoni Poliennali Del Tesoro		0.050		04/15/21		1,376
	3,500,000		Italy Buoni Poliennali Del Tesoro		2.450		10/01/23		4,099

349

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
EUR	3,345,000		Italy Buoni Poliennali Del Tesoro			1.250	%	12/01/26	$	3,719
	1,225,000	g	Italy Buoni Poliennali Del Tesoro			2.950		09/01/38		1,513
	1,550,000	g	Italy Buoni Poliennali Del Tesoro			3.850		09/01/49		2,213
	1,000,000	g	Ivory Coast Government International Bond			5.875		10/17/31		940
	1,000,000	g	Ivory Coast Government International Bond			6.625		03/22/48		933
	1,966,500	g	Ivory Coast Government International Bond (Step Bond)			5.750		12/31/32		1,760
	2,850,000		Jamaica Government International Bond			7.875		07/28/45		3,050
	6,000,000		Japan Bank for International Cooperation			2.375		04/20/26		6,470
	2,000,000	g	Japan Finance Organization for Municipalities			2.000		09/08/20		2,010
	2,700,000	g	Japan Finance Organization for Municipalities			2.125		02/12/21		2,731
	4,000,000	g	Japan Finance Organization for Municipalities			2.125		04/13/21		4,055
	6,650,000	g	Japan Finance Organization for Municipalities			3.375		09/27/23		7,212
	1,000,000	g	Japan Finance Organization for Municipalities			3.000		03/12/24		1,079
JPY	113,000,000		Japan Finance Organization for Municipalities			0.450		03/14/25		1,072
	103,000,000		Japan Finance Organization for Municipalities			0.484		06/13/25		980
	140,000,000		Japan Finance Organization for Municipalities			0.020		03/13/26		1,300
	76,000,000		Japan Government Five Year Bond			0.100		06/20/23		712
	440,000,000		Japan Government Ten Year Bond			0.100		09/20/26		4,152
	369,000,000		Japan Government Ten Year Bond			0.100		12/20/26		3,484
	122,000,000		Japan Government Ten Year Bond			0.100		06/20/29		1,149
	162,000,000		Japan Government Ten Year Bond			0.100		12/20/29		1,520
	350,000,000		Japan Government Thirty Year Bond			2.400		11/20/31		4,106
	350,000,000		Japan Government Thirty Year Bond			2.300		05/20/32		4,091
	418,000,000		Japan Government Thirty Year Bond			2.500		09/20/34		5,125
	450,000,000		Japan Government Thirty Year Bond			0.500		09/20/46		4,298
	530,000,000		Japan Government Twenty Year Bond			1.900		03/22/21		5,028
	93,000,000		Japan Government Twenty Year Bond			0.600		12/20/36		908
	219,000,000		Japan Government Twenty Year Bond			0.500		12/20/38		2,106
	153,000,000		Japan Government Twenty Year Bond			0.300		06/20/39		1,422
	379,000,000		Japan Government Two Year Bond			0.100		03/01/22		3,543
$	1,000,000	g	Jordan Government International Bond			5.750		01/31/27		881
	1,525,000	g	Kenya Government International Bond			6.875		06/24/24		1,445
	2,350,000	g	Kenya Government International Bond			7.000		05/22/27		2,163
EUR	1,875,000	g	Kingdom of Belgium Government International Bond			0.000		10/22/27		2,070
	1,080,000		Kingdom of Belgium Government International Bond			1.250		04/22/33		1,346
$	1,925,000	g	Kommunalbanken AS.			1.375		10/26/20		1,931
	3,750,000	g	Kommunalbanken AS.			1.625		02/10/21		3,784
	5,000,000	g	Kommunalbanken AS.			2.250		01/25/22		5,146
	2,600,000	g	Kommunalbanken AS.			2.750		02/05/24		2,806
EUR	500,000		Kommunalbanken AS.			0.625		04/20/26		576
$	4,500,000	g	Kommuninvest I Sverige AB			2.250		05/29/21		4,583
	2,833,000	g	Kommuninvest I Sverige AB			2.625		09/15/22		2,974
	4,150,000	g	Kommuninvest I Sverige AB			1.625		10/24/22		4,262
	4,000,000	i	Korea Development Bank	LIBOR 3 M + 0.550%		1.334		03/12/21		3,995
	2,675,000	g	Korea Housing Finance Corp			2.000		10/11/21		2,689
	5,775,000	g	Korea Housing Finance Corp			3.000		10/31/22		5,988
KRW	4,630,000,000		Korea Treasury Bond			1.375		09/10/21		3,821
	1,220,000,000		Korea Treasury Bond			1.875		03/10/22		1,017
	1,270,000,000		Korea Treasury Bond			1.500		03/10/25		1,052
	1,800,000,000		Korea Treasury Bond			1.500		12/10/26		1,489
	2,380,000,000		Korea Treasury Bond			2.375		09/10/38		2,171

350

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	45,000,000		Kreditanstalt fuer Wiederaufbau		2.750	%	10/01/20	$	45,496
	18,750,000		Kreditanstalt fuer Wiederaufbau		2.625		01/25/22		19,437
	5,750,000	g	Kuwait Government International Bond		2.750		03/20/22		5,779
	1,750,000	†,q	Lebanon Government International Bond		6.750		11/29/27		315
	5,250,000	g	Lithuania Government International Bond		6.625		02/01/22		5,664
MYR	3,100,000		Malaysia Government International Bond		4.893		06/08/38		800
	23,500,000		Mexican Bonos		5.750		03/05/26		936
	14,300,000		Mexican Bonos		7.750		05/29/31		618
$	3,000,000		Mexico Government International Bond		4.150		03/28/27		3,066
	6,250,000		Mexico Government International Bond		3.250		04/16/30		5,859
	6,051,000		Mexico Government International Bond		6.050		01/11/40		7,170
	3,000,000	g	Mongolia Government International Bond		5.125		12/05/22		2,668
EUR	900,000	g	Morocco Government International Bond		1.500		11/27/31		870
$	5,750,000	g	Morocco Government International Bond		5.500		12/11/42		6,096
	2,500,000	g	Nacional Financiera SNC		3.375		11/05/20		2,432
	3,075,000	g	Namibia Government International Bond		5.250		10/29/25		2,633
	4,500,000	g	Nederlandse Waterschapsbank NV		2.125		11/15/21		4,608
	5,000,000	g	Nederlandse Waterschapsbank NV		1.875		04/14/22		5,124
	4,000,000	g	Nederlandse Waterschapsbank NV		3.125		12/05/22		4,261
EUR	1,075,000	g	Netherlands Government International Bond		0.750		07/15/28		1,293
AUD	500,000		New South Wales Treasury Corp		4.000		05/20/26		362
NZD	1,450,000		New Zealand Government International Bond		2.750		04/15/25		952
	1,350,000		New Zealand Government International Bond		3.000		04/20/29		937
$	4,600,000	g	Nigeria Government International Bond		6.500		11/28/27		3,174
NOK	36,880,000	g	Norway Government International Bond		1.375		08/19/30		3,717
$	1,500,000	g	Oman Government International Bond		6.000		08/01/29		1,076
	21,300,000	g	OMERS Finance Trust		2.500		05/02/24		22,779
	15,000,000	g	Ontario Teachers’ Finance Trust		1.625		09/12/24		15,462
	4,000,000		Panama Government International Bond		4.300		04/29/53		4,305
	6,455,000	g	Panama Notas del Tesoro		3.750		04/17/26		6,455
	1,650,000	g	Paraguay Government International Bond		4.700		03/27/27		1,650
	925,000	g	Paraguay Government International Bond		5.400		03/30/50		925
	4,275,000	g	Perusahaan Penerbit SBSN Indonesia III		3.900		08/20/24		4,306
	9,350,000	g	Perusahaan Penerbit SBSN Indonesia III		4.400		03/01/28		9,444
	4,475,000		Peruvian Government International Bond		4.125		08/25/27		5,046
PEN	14,725,000	g	Peruvian Government International Bond		5.400		08/12/34		4,248
$	416,667	g	Petroamazonas EP		4.625		11/06/20		407
EUR	1,525,000	g	Portugal Obrigacoes do Tesouro OT		1.950		06/15/29		1,853
	1,000,000	g	Portugal Obrigacoes do Tesouro OT		0.475		10/18/30		1,058
	500,000	g	Portugal Obrigacoes do Tesouro OT		4.100		02/15/45		832
$	15,000,000		Province of British Columbia Canada		2.000		10/23/22		15,484
CAD	2,350,000		Province of British Columbia Canada		2.550		06/18/27		1,768
$	10,000,000		Province of Manitoba Canada		3.050		05/14/24		10,896
	25,000,000		Province of Manitoba Canada		2.125		06/22/26		26,328
CAD	1,300,000		Province of New Brunswick Canada		3.100		08/14/28		1,002
$	25,000,000		Province of Ontario Canada		3.050		01/29/24		27,280
	22,500,000		Province of Quebec Canada		3.500		07/29/20		22,689
CAD	1,650,000		Province of Quebec Canada		2.750		09/01/27		1,258
$	6,000,000		Province of Quebec Canada		7.500		09/15/29		9,082
	2,000,000	g	Provincia de Mendoza Argentina		8.375		05/19/24		900
EUR	850,000	g	Republic of Austria Government International Bond		0.750		02/20/28		998
$	1,700,000	g	Republic of Belarus International Bond		7.625		06/29/27		1,704
	1,000,000		Republic of Italy Government International Bond		2.375		10/17/24		988
	8,000,000		Republic of Italy Government International Bond		4.000		10/17/49		7,488

351

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,000,000	g	Republic of Paraguay		6.100	%	08/11/44	$	2,100
PLN	3,800,000		Republic of Poland Government International Bond		2.250		04/25/22		943
	7,120,000		Republic of Poland Government International Bond		2.500		04/25/24		1,815
	2,855,000		Republic of Poland Government International Bond		2.750		04/25/28		741
$	2,475,000		Republic of South Africa Government International Bond		4.850		09/27/27		2,170
	3,225,000	g	Republic of Uzbekistan Government International Bond		4.750		02/20/24		3,154
EUR	600,000	g	Romanian Government International Bond		2.000		01/28/32		593
$	500,000	g	Saudi Government International Bond		2.500		02/03/27		479
	10,775,000	g	Saudi Government International Bond		4.500		04/17/30		11,631
	3,500,000	g	Saudi Government International Bond		3.750		01/21/55		3,220
EUR	1,000,000	g	Senegal Government International Bond		4.750		03/13/28		994
$	2,000,000	g	Senegal Government International Bond		6.250		05/23/33		1,789
	2,000,000	g	Senegal Government International Bond		6.750		03/13/48		1,636
EUR	1,250,000	g	Serbia Government International Bond		1.500		06/26/29		1,258
RSD	96,000,000		Serbia Treasury Bonds		5.875		02/08/28		1,080
	31,700,000		Serbia Treasury Bonds		4.500		08/20/32		329
SGD	1,300,000		Singapore Government International Bond		2.625		05/01/28		1,013
$	4,000,000		South Africa Government International Bond		5.875		09/16/25		3,822
ZAR	12,200,000		South Africa Government International Bond		10.500		12/21/26		705
	15,100,000		South Africa Government International Bond		8.750		01/31/44		634
$	3,850,000	g	Southern Gas Corridor CJSC		6.875		03/24/26		3,924
EUR	2,550,000	g	Spain Government International Bond		2.750		10/31/24		3,138
	845,000	g	Spain Government International Bond		1.400		07/30/28		995
	1,125,000	g	Spain Government International Bond		0.600		10/31/29		1,236
	1,100,000	g	Spain Government International Bond		1.850		07/30/35		1,350
$	750,000	g	Sri Lanka Government International Bond		6.850		03/14/24		472
	1,000,000	g	Sri Lanka Government International Bond		6.825		07/18/26		589
	3,100,000		State of Israel		3.375		01/15/50		3,007
	4,000,000		Svensk Exportkredit AB		1.750		03/10/21		4,032
	5,280,000		Svensk Exportkredit AB		1.625		11/14/22		5,356
	9,590,000		Svensk Exportkredit AB		1.750		12/12/23		9,932
THB	48,800,000		Thailand Government International Bond		3.300		06/17/38		1,793
UAH	25,000,000		Ukraine Government International Bond		17.000		05/11/22		845
EUR	1,000,000	g	Ukraine Government International Bond		6.750		06/20/26		975
	5,800,000	g	Ukraine Government International Bond		4.375		01/27/30		5,118
GBP	1,800,000		United Kingdom Gilt		0.500		07/22/22		2,255
	3,050,000		United Kingdom Gilt		1.625		10/22/28		4,240
	2,450,000		United Kingdom Gilt		4.750		12/07/30		4,449
	2,450,000		United Kingdom Gilt		1.750		09/07/37		3,553
	900,000		United Kingdom Gilt		1.500		07/22/47		1,302
	775,000		United Kingdom Gilt		1.625		10/22/54		1,226
UYU	21,800,000	g	Uruguay Government International Bond		8.500		03/15/28		405
$	2,357,410		Uruguay Government International Bond		4.375		01/23/31		2,564
AUD	2,735,000		Western Australian Treasury Corp		2.750		07/24/29		1,885
			TOTAL FOREIGN GOVERNMENT BONDS						805,537
MORTGAGE BACKED - 17.2%
$	7,732,106		Federal Home Loan Mortgage Corp (FHLMC)		3.000		10/15/33		8,622
	24,006,422		FHLMC		3.500		08/15/43		25,558
	10,965,012	i	FHLMC		5.215		03/15/44		2,140
	33,300,924		FHLMC		4.000		10/01/47		36,243

352

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	20,498,339	i	FHLMC		8.793	%	06/15/48	$	24,544
	28,006,141		FHLMC		3.000		09/01/48		29,556
	17,404,485	i	FHLMC		8.713		10/15/48		21,939
	1,641		Federal Home Loan Mortgage Corp Gold (FGLMC)		7.000		10/01/20		2
	3,787		FGLMC		7.000		05/01/23		4
	19,322		FGLMC		8.000		01/01/31		20
	4,978		FGLMC		7.000		01/01/32		5
	457,912		FGLMC		4.500		07/01/33		501
	3,119,850		FGLMC		7.000		12/01/33		3,681
	876,767		FGLMC		4.500		10/01/34		951
	619,567		FGLMC		4.500		04/01/35		678
	996,463		FGLMC		7.000		05/01/35		1,178
	2,658,416		FGLMC		5.000		06/01/36		2,958
	1,001,239		FGLMC		5.000		07/01/39		1,110
	129,348		FGLMC		4.500		12/01/43		144
	82,980		FGLMC		4.500		02/01/44		92
	3,203,569		FGLMC		4.500		10/01/44		3,559
	1,288,650		FGLMC		4.500		11/01/44		1,433
	1,945,337		FGLMC		4.500		11/01/44		2,161
	834,663		FGLMC		4.500		12/01/44		914
	1,192,108		FGLMC		4.500		12/01/44		1,324
	6,091,545		FGLMC		3.500		04/01/45		6,545
	826,003		FGLMC		4.500		05/01/45		882
	28,910,384		FGLMC		3.500		08/01/45		31,128
	50,296,073		FGLMC		3.500		10/01/45		53,966
	29,430,811		FGLMC		4.000		12/01/45		32,103
	75,643,878		FGLMC		3.500		08/01/46		81,164
	109,255,376		FGLMC		3.000		01/01/47		115,308
	85,570,131		FGLMC		3.000		02/01/47		90,257
	2,647,778		FGLMC		4.500		06/01/47		2,941
	5,536,714		FGLMC		4.000		09/01/47		6,076
	5,863,928		FGLMC		3.500		12/01/47		6,291
	27,194,628		FGLMC		3.500		03/01/48		29,174
	33,436,963		FGLMC		4.000		03/01/48		36,388
	17,146,179		FGLMC		4.000		07/01/48		18,659
	25,624,528		FGLMC		4.500		08/01/48		28,071
	12,142,113		FGLMC		4.500		10/01/48		13,302
	15,568,460		FGLMC		3.500		11/01/48		16,702
	36,131		Federal National Mortgage Association (FNMA)		8.000		07/01/24		40
	8,611		FNMA		9.000		11/01/25		9
	5,430,003		FNMA		3.500		05/01/32		5,734
	485,644		FNMA		4.500		10/01/33		532
	870,049		FNMA		4.500		05/01/35		953
	5,521,781		FNMA		5.000		05/01/35		6,134
	2,464,379		FNMA		5.000		10/01/35		2,744
	2,104,626		FNMA		5.000		02/01/36		2,343
	4,336,447		FNMA		5.500		11/01/38		4,918
	5,065,801		FNMA		3.000		10/01/39		5,325
	4,761,979		FNMA		5.000		09/01/40		5,279
	7,129,698		FNMA		5.000		05/01/41		7,910
	25,752,299		FNMA		4.000		09/01/42		28,249
	13,871,701		FNMA		3.500		04/01/43		14,897
	6,697,651		FNMA		3.000		04/25/43		7,116
	11,951,404		FNMA		3.500		09/01/43		12,834

353

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	12,452,077	i	FNMA		5.003	%	09/25/43	$	2,614
	6,084,566		FNMA		4.000		01/01/44		6,623
	9,598,713		FNMA		4.500		03/01/44		10,791
	5,834,626		FNMA		4.500		06/01/44		6,485
	6,016,059		FNMA		4.500		10/01/44		6,686
	11,215,602		FNMA		4.500		11/01/44		12,453
	3,873,961		FNMA		5.000		11/01/44		4,293
	3,460,974		FNMA		4.500		12/01/44		3,847
	5,156,502		FNMA		4.000		01/01/45		5,661
	32,392,188		FNMA		3.000		02/25/45		34,109
	7,224,015		FNMA		3.000		02/25/45		7,583
	368,669		FNMA		3.500		03/01/45		396
	539,502		FNMA		3.500		03/01/45		580
	1,350,162		FNMA		4.500		03/01/45		1,500
	9,400,666		FNMA		3.000		03/25/45		9,983
	530,127		FNMA		4.500		04/01/45		589
	27,061,575		FNMA		3.500		04/25/45		28,475
	12,833,706		FNMA		3.500		05/01/45		13,814
	7,257,893		FNMA		4.000		06/01/45		7,851
	10,992,830		FNMA		4.000		12/01/45		11,958
	58,296,731		FNMA		3.000		12/25/45		62,241
	17,821,509		FNMA		3.500		01/01/46		19,117
	31,624,480		FNMA		4.000		01/01/46		34,424
	937,895		FNMA		4.000		03/01/46		1,014
	16,004,704		FNMA		3.500		06/01/46		17,168
	17,741,200		FNMA		3.500		07/01/46		19,031
	30,594,653		FNMA		3.500		07/01/46		32,842
	8,121,866		FNMA		3.000		10/01/46		8,432
	18,075,722		FNMA		3.500		10/01/46		19,390
	28,933,962		FNMA		3.000		11/01/46		30,526
	38,006,792		FNMA		3.500		12/01/46		40,344
	111,210,401	h	FNMA		3.500		01/01/47		117,881
	7,543,468		FNMA		3.000		04/25/47		8,039
	8,608,909		FNMA		4.500		05/01/47		9,420
	3,287,718		FNMA		3.500		08/01/47		3,501
	3,672,273		FNMA		3.500		09/01/47		3,907
	1,907,901		FNMA		3.000		11/01/47		1,980
	5,450,814		FNMA		3.000		11/01/47		5,657
	13,104,642		FNMA		3.500		11/01/47		14,107
	45,874,045		FNMA		4.000		12/01/47		49,928
	3,228,773		FNMA		3.500		01/01/48		3,475
	30,490,450	h	FNMA		3.500		01/01/48		32,826
	14,241,472		FNMA		4.500		01/01/48		15,602
	13,516,596		FNMA		3.500		02/01/48		14,282
	12,162,740		FNMA		4.500		02/01/48		13,319
	112,186,651		FNMA		3.000		02/25/48		118,697
	13,401,416		FNMA		4.000		03/01/48		14,579
	52,952,295		FNMA		4.500		03/01/48		57,986
	26,469,189		FNMA		3.500		04/01/48		27,960
	189,507,443	h	FNMA		4.000		04/01/48		203,167
	9,927,131		FNMA		4.500		05/01/48		10,871
	7,656,768		FNMA		4.500		05/01/48		8,385
	13,079,338		FNMA		5.000		06/01/48		14,134

354

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	20,184,651		FNMA		5.000	%	08/01/48	$	22,373
	17,132,885		FNMA		3.000		11/25/48		1,755
	45,000,000	h	FNMA		3.000		04/25/49		47,188
	40,000,000	h	FNMA		3.500		04/25/49		42,314
	9,623,706		FNMA		3.000		06/01/49		9,979
	5,954,331		FNMA		3.000		08/01/49		6,306
	136,695,218		FNMA		3.000		12/01/49		143,276
	12,768,163		FNMA		3.500		02/01/50		13,493
	24,980,000		FNMA		2.500		04/01/50		25,888
	13,094,511		Government National Mortgage Association (GNMA)		3.700		10/15/33		14,093
	483,647		GNMA		5.000		04/15/38		539
	419,183		GNMA		6.500		11/20/38		498
	61,006		GNMA		4.500		02/20/39		70
	1,555,625		GNMA		5.000		06/15/39		1,761
	921,367		GNMA		5.000		06/15/39		1,043
	10,867,302		GNMA		3.700		08/15/40		11,456
	82,164		GNMA		4.500		08/20/41		93
	288,719		GNMA		4.500		09/20/41		332
	60,929		GNMA		4.500		01/20/44		70
	57,319		GNMA		4.500		02/20/44		65
	130,304		GNMA		4.500		05/20/44		150
	827,681		GNMA		4.500		05/20/44		953
	937,566		GNMA		4.500		08/20/44		1,079
	607,107		GNMA		4.500		09/20/44		699
	362,320		GNMA		4.500		10/20/44		412
	142,876		GNMA		4.500		11/20/44		155
	595,791		GNMA		4.500		12/20/44		686
	797,261		GNMA		4.500		02/20/45		897
	924,935		GNMA		4.500		08/20/45		1,065
	934,466		GNMA		4.500		08/20/45		1,076
	864,476		GNMA		4.500		12/20/45		981
	12,567,053	†	GNMA		4.000		06/20/46		1,496
	20,442,786		GNMA		3.500		01/20/49		22,311
			TOTAL MORTGAGE BACKED						2,428,366
MUNICIPAL BONDS - 5.3%
	14,595,000		Bay Area Toll Authority		3.552		04/01/54		14,839
	2,975,000		Chicago Housing Authority		3.682		01/01/25		3,236
	245,000		City & County of San Francisco CA Community Facilities District		3.264		09/01/25		261
	1,000,000		City & County of San Francisco CA Community Facilities District		4.038		09/01/34		1,098
	845,000		City & County of San Francisco CA Community Facilities District		3.750		09/01/37		897
	2,950,000		City & County of San Francisco CA Community Facilities District		4.221		09/01/39		3,176
	2,000,000		City & County of San Francisco CA Community Facilities District		4.000		09/01/48		2,095
	8,080,000		City of Austin TX Electric Utility Revenue		2.456		11/15/22		8,260
	6,590,000		City of Austin TX Electric Utility Revenue		2.524		11/15/23		6,759
	8,025,000		City of Austin TX Electric Utility Revenue		2.574		11/15/24		8,288
	4,940,000		City of Austin TX Electric Utility Revenue		2.677		11/15/25		5,121

355

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,000,000	City of Dallas TX Waterworks & Sewer System Revenue		1.868	%	10/01/22	$	4,955
	2,775,000	City of Dallas TX Waterworks & Sewer System Revenue		2.068		10/01/23		2,750
	1,350,000	City of Dallas TX Waterworks & Sewer System Revenue		2.389		10/01/25		1,336
	3,995,000	City of Los Angeles CA Wastewater System Revenue		4.029		06/01/39		4,341
	7,470,000	City of New York		3.010		08/01/24		7,849
	4,870,000	City of New York		3.430		12/01/24		5,225
	4,940,000	City of New York		3.200		12/01/26		5,369
	2,025,000	City of San Antonio TX Customer Facility Charge Revenue		4.253		07/01/24		2,180
	1,575,000	City of San Antonio TX Customer Facility Charge Revenue		4.353		07/01/25		1,715
	20,000,000	City of San Francisco CA Public Utilities Commission Water Revenue		4.035		11/01/41		20,561
	7,215,000	Commonwealth Financing Authority		3.864		06/01/38		7,964
	19,355,000	Commonwealth Financing Authority		3.807		06/01/41		21,901
	1,875,000	County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,855
	1,505,000	County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,496
	1,500,000	County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		1,485
	2,500,000	County of Miami-Dade FL Aviation Revenue		3.285		10/01/23		2,626
	3,500,000	County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,460
	2,250,000	County of Miami-Dade FL Aviation Revenue		3.405		10/01/24		2,403
	4,365,000	County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		4,286
	2,375,000	County of Miami-Dade FL Aviation Revenue		3.505		10/01/25		2,562
	2,500,000	County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,473
	3,940,000	County of Miami-Dade FL Aviation Revenue		3.049		10/01/26		4,212
	3,750,000	County of Miami-Dade FL Aviation Revenue		3.612		10/01/26		4,159
	4,700,000	County of Miami-Dade FL Aviation Revenue		2.529		10/01/30		4,722
	3,730,000	County of Miami-Dade FL Aviation Revenue		3.732		10/01/37		3,963
	3,900,000	County of Miami-Dade FL Aviation Revenue		3.982		10/01/41		4,172
	9,160,000	County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		9,778
	7,890,000	Denver City & County School District No		4.242		12/15/37		8,599
	2,000,000	Duke University		3.199		10/01/38		2,011
	39,400,000	Florida Hurricane Catastrophe Fund Finance Corp		2.995		07/01/20		39,363
	5,080,000	Illinois Finance Authority		3.944		08/15/47		5,544
	2,350,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.500		09/01/21		2,344
	1,000,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		2.000		09/01/22		1,006
	4,805,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375		09/01/35		4,934
	2,000,000	Menlo Park City School District		2.969		07/01/38		2,029
	2,560,000	Michigan Finance Authority		1.941		11/01/21		2,584
	3,000,000	Michigan Finance Authority		2.244		11/01/22		3,068
	13,330,000	Michigan Finance Authority		2.862		09/01/49		13,413
	14,000,000	Michigan Finance Authority		2.988		09/01/49		13,879
	570,000	New Jersey Economic Development Authority		3.500		06/15/20		573
	500,000	New Jersey Economic Development Authority		3.700		06/15/21		512
	1,110,000	New Jersey Economic Development Authority		3.800		07/01/22		1,137
	870,000	New York City Housing Development Corp		3.403		05/01/22		897
	750,000	New York City Housing Development Corp		3.453		11/01/22		780

356

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,360,000	New York City Housing Development Corp		3.523	%	05/01/23	$	1,424
	1,815,000	New York City Housing Development Corp		3.573		11/01/23		1,911
	1,000,000	New York City Housing Development Corp		3.650		05/01/24		1,062
	5,680,000	New York State Dormitory Authority		3.998		07/01/39		6,049
	10,605,000	New York State Dormitory Authority		4.294		07/01/44		11,691
	6,000,000	New York State Dormitory Authority		3.879		07/01/46		6,237
	5,000,000	New York State Thruway Authority		2.256		01/01/25		4,854
	6,460,000	New York State Thruway Authority		2.406		01/01/26		6,267
	4,750,000	New York State Thruway Authority		2.500		01/01/27		4,595
	855,000	Oklahoma City Economic Development Trust		3.172		09/01/21		877
	1,120,000	Oklahoma City Economic Development Trust		3.222		09/01/22		1,169
	810,000	Oklahoma City Economic Development Trust		3.440		09/01/24		875
	2,350,000	Oregon State Lottery		2.505		04/01/24		2,432
	3,500,000	Palm Beach County Solid Waste Authority		2.083		10/01/21		3,542
	2,320,000	Permanent University Fund		2.258		07/01/20		2,326
	2,160,000	Permanent University Fund		2.408		07/01/21		2,197
	2,750,000	Permanent University Fund		2.508		07/01/22		2,834
	2,855,000	Permanent University Fund		2.608		07/01/23		2,984
	3,250,000	Permanent University Fund		2.708		07/01/24		3,442
	2,335,000	Permanent University Fund		2.808		07/01/25		2,496
	3,775,000	Permanent University Fund		2.908		07/01/26		4,065
	4,000,000	Permanent University Fund		3.008		07/01/27		4,365
	2,000,000	Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,077
	3,400,000	Port of Corpus Christi Authority of Nueces County		3.287		12/01/23		3,591
	1,500,000	Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,602
	1,000,000	Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		1,076
	7,500,000	Port of Morrow OR		1.582		09/01/20		7,487
	2,075,000	Port of Morrow OR		1.782		09/01/21		2,085
	4,355,000	Public Finance Authority		4.269		07/01/40		4,850
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		1,030
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		1,042
	1,250,000	Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,315
	1,785,000	Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,905
	1,600,000	Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,716
	700,000	Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		757
	900,000	Regents of the University of California Medical Center Pooled Revenue		2.759		05/15/29		984
	6,000,000	San Francisco City & County Airport Comm-San Francisco International Airport		3.046		05/01/22		6,178
	6,360,000	San Jose Redevelopment Agency		3.375		08/01/34		6,417
	335,000	Santa Ana Community Redevelopment Agency Successor Agency		3.346		09/01/21		345
	1,340,000	Santa Ana Community Redevelopment Agency Successor Agency		3.467		09/01/22		1,414
	1,340,000	Santa Ana Community Redevelopment Agency Successor Agency		3.567		09/01/23		1,445
	13,060,000	State of California		4.600		04/01/38		14,380

357

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL		ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,060,000	State of Georgia		2.000	%	07/01/20	$	3,063
	3,215,000	State of Georgia		2.150		07/01/21		3,239
	3,465,000	State of Georgia		1.910		02/01/23		3,526
	3,905,000	State of Georgia		2.750		07/01/25		3,991
	4,100,000	State of Georgia		2.850		07/01/26		4,213
	4,305,000	State of Georgia		2.950		07/01/27		4,419
	4,520,000	State of Georgia		3.050		07/01/28		4,644
	3,245,000	State of Georgia		3.150		07/01/29		3,336
	12,500,000	State of Illinois		1.930		06/15/20		12,511
	12,500,000	State of Illinois		2.250		06/15/21		12,553
	12,500,000	State of Illinois		3.150		06/15/26		12,958
	12,500,000	State of Illinois		3.250		06/15/27		12,828
	27,150,000	State of Illinois		5.100		06/01/33		26,950
	20,000,000	State of Michigan		1.579		11/01/20		20,090
	13,000,000	State of Michigan		1.779		11/01/21		13,139
	7,000,000	State of Michigan		1.966		11/01/22		7,168
	3,510,000	State of Oregon		1.783		05/01/24		3,552
	9,700,000	State of Oregon Department of Administrative Services		4.103		05/01/39		10,555
	9,900,000	State of Wisconsin		3.154		05/01/27		9,812
	6,000,000	University of California		2.570		05/15/22		6,146
	25,860,000	University of California		3.063		07/01/25		27,720
	10,230,000	University of California		4.601		05/15/31		11,901
	17,045,000	University of California		3.931		05/15/45		18,553
	21,000,000	University of Chicago		4.151		10/01/45		21,599
	7,620,000	University of Massachusetts Building Authority		3.097		11/01/35		7,638
	13,000,000	University of Massachusetts Building Authority		3.434		11/01/40		13,154
	20,000,000	University of New Mexico		3.532		06/20/32		21,125
	835,000	Utah Municipal Power Agency		1.823		07/01/20		836
	500,000	Utah Municipal Power Agency		2.023		07/01/21		504
	1,750,000	Utah Municipal Power Agency		2.262		07/01/22		1,781
	1,500,000	Utah Municipal Power Agency		2.512		07/01/23		1,545
	2,160,000	Virginia Port Authority		4.228		07/01/36		2,330
	390,000	Washington Convention & Sports Authority		3.969		10/01/30		432
		TOTAL MUNICIPAL BONDS						743,702
U.S. TREASURY SECURITIES - 8.5%
	66,677,000	United States Treasury Bond		4.500		02/15/36		102,477
	4,500,000	United States Treasury Bond		4.750		02/15/37		7,188
	58,750,000	United States Treasury Bond		3.500		02/15/39		83,638
	11,900,000	United States Treasury Bond		3.875		08/15/40		17,856
	19,135,000	United States Treasury Bond		4.375		05/15/41		30,693
	16,434,000	United States Treasury Bond		3.750		08/15/41		24,413
	6,000,000	United States Treasury Bond		2.750		11/15/42		7,751
	56,375,000	United States Treasury Bond		3.625		08/15/43		83,127
	35,680,000	United States Treasury Bond		3.000		05/15/45		48,533
	81,710,000	United States Treasury Bond		2.875		08/15/45		109,252
	102,850,000	United States Treasury Bond		2.500		05/15/46		129,386
	1,075,000	United States Treasury Bond		3.000		05/15/47		1,486
	58,160,000	United States Treasury Bond		2.750		11/15/47		76,982
	6,655,000	United States Treasury Bond		3.000		02/15/48		9,212
	41,095,000	United States Treasury Bond		3.125		05/15/48		58,268
	85,945,000	United States Treasury Bond		3.000		08/15/48		119,497
	93,520,000	United States Treasury Bond		3.375		11/15/48		138,848

358

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	276,000		United States Treasury Bond		2.875	%	05/15/49	$	377
	10,305,000		United States Treasury Bond		2.375		11/15/49		12,862
	31,295,232	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		31,753
	10,445,000		United States Treasury Note		2.375		04/30/20		10,464
	12,589,300		United States Treasury Note		1.125		02/28/21		12,703
	1,040,000		United States Treasury Note		1.375		05/31/21		1,055
	6,525,000		United States Treasury Note		1.750		07/31/21		6,661
	70,850,000		United States Treasury Note		1.125		02/28/22		72,026
	425,000		United States Treasury Note		0.500		03/15/23		428
			TOTAL U.S. TREASURY SECURITIES						1,196,936
			TOTAL GOVERNMENT BONDS						5,460,320
			(Cost $5,050,628)
STRUCTURED ASSETS - 20.2%
ASSET BACKED - 10.2%
	11,450,000		Ally Auto Receivables Trust		2.100		03/15/22		11,400
			Series - 2017 2 (Class A4)
	27,750,000		Ally Auto Receivables Trust		1.840		06/17/24		27,854
			Series - 2019 4 (Class A3)
	5,500,000		AmeriCredit Automobile Receivables Trust		2.740		12/08/22		5,420
			Series - 2016 4 (Class D)
	6,325,000		AmeriCredit Automobile Receivables Trust		2.060		04/18/24		6,419
			Series - 2019 3 (Class A3)
	16,500,000		AmeriCredit Automobile Receivables Trust		1.110		08/19/24		16,122
			Series - 2020 1 (Class A3)
	2,124,000	g	AMSR Trust		1.819		04/17/37		1,969
			Series - 2020 SFR1 (Class A)
	3,499,000	g,i	AMSR Trust		3.148		01/19/39		2,873
			Series - 2019 SFR1 (Class C)
	3,347,000	g,i	AMSR Trust		3.247		01/19/39		2,671
			Series - 2019 SFR1 (Class D)
	74,236	†,g	Asset Backed Funding Corp NIM Trust		5.900		07/26/35		0^
			Series - 2005 WMC1 (Class N1)
	1,256,464	i	Asset Backed Securities Corp Home Equity Loan Trust		3.386		08/25/34		1,182
			Series - 2004 HE5 (Class M1)
	8,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.450		03/20/23		7,872
			Series - 2019 1A (Class A)
	12,000,000	g	Avis Budget Rental Car Funding AESOP LLC		3.070		09/20/23		11,267
			Series - 2017 1A (Class A)
	32,000,000	g	Avis Budget Rental Car Funding AESOP LLC		2.970		03/20/24		29,998
			Series - 2017 2A (Class A)
	22,600,000		BA Credit Card Trust		1.740		01/15/25		22,826
			Series - 2019 A1 (Class A1)
	4,745,000	i	Bayview Financial Mortgage Pass-Through Trust		1.591		02/28/41		4,420
			Series - 2006 A (Class M3)
	6,537,000	i	Bear Stearns Asset Backed Securities Trust		1.617		04/25/36		6,252
			Series - 2006 SD1 (Class M1)
	4,483,891	g	BRE Grand Islander Timeshare Issuer LLC		3.280		09/26/33		4,428
			Series - 2019 A (Class A)

359

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	7,625,696	g	Capital Automotive REIT		3.660	%	10/15/44	$	6,880
			Series - 2014 1A (Class A)
	6,604,271	g	Capital Automotive REIT		3.870		04/15/47		5,787
			Series - 2017 1A (Class A1)
	13,603,960	g	Capital Automotive REIT		2.690		02/15/50		13,400
			Series - 2020 1A (Class A1)
	11,400,000	g	Capital Automotive REIT		3.480		02/15/50		9,837
			Series - 2020 1A (Class A5)
	9,000,000		Capital One Multi-Asset Execution Trust		1.720		08/15/24		9,086
			Series - 2019 A2 (Class A2)
	5,800,000		Capital One Multi-Asset Execution Trust		2.430		01/15/25		5,854
			Series - 2017 A3 (Class A3)
	5,950,000		Carmax Auto Owner Trust		2.180		08/15/24		5,972
			Series - 2019 3 (Class A3)
	2,850,000		CarMax Auto Owner Trust		2.250		09/15/22		2,861
			Series - 2017 2 (Class A4)
	4,100,000		CarMax Auto Owner Trust		2.330		05/15/23		4,101
			Series - 2017 4 (Class A4)
	14,550,000		CarMax Auto Owner Trust		1.890		12/16/24		14,593
			Series - 2020 1 (Class A3)
	1,644,832	i	C-BASS Trust		1.027		07/25/36		1,495
			Series - 2006 CB6 (Class A1)
	428,194	i	Chase Funding Mortgage Loan Asset-Backed Certificates		5.700		02/26/35		386
			Series - 2004 2 (Class 1M2)
	59,500,000		Chase Issuance Trust		1.530		01/15/25		59,893
			Series - 2020 A1 (Class A1)
	271,906		CIT Group Home Equity Loan Trust (Step Bond)		6.200		02/25/30		268
			Series - 2002 1 (Class AF6)
	650,000	i	Citigroup Mortgage Loan Trust		1.697		01/25/36		623
			Series - 2006 WFH1 (Class M4)
	9,500,000		CNH Equipment Trust		2.170		04/17/23		9,627
			Series - 2017 B (Class A4)
	31,490,000		CNH Equipment Trust		2.360		11/15/24		31,264
			Series - 2017 C (Class A4)
	2,000,000		CNH Equipment Trust		3.300		04/15/25		2,027
			Series - 2018 A (Class A4)
	2,350,000		CNH Equipment Trust		3.220		01/15/26		2,275
			Series - 2019 A (Class A4)
	10,000,000	g	Corevest American Finance Trust		1.832		03/15/50		9,316
			Series - 2020 1 (Class A1)
	20,659,463	g	DB Master Finance LLC		3.629		11/20/47		19,876
			Series - 2017 1A (Class A2I)
	4,764,000	g	DB Master Finance LLC		3.787		05/20/49		4,604
			Series - 2019 1A (Class A2I)
	8,247,675	g	DB Master Finance LLC		4.021		05/20/49		7,899
			Series - 2019 1A (Class A2II)
	3,973,873	g	Diamond Resorts Owner Trust		3.700		01/21/31		3,934
			Series - 2018 1 (Class A)
	10,799,566	g	Diamond Resorts Owner Trust		2.890		02/20/32		10,417
			Series - 2019 1A (Class A)
	5,000,000		Discover Card Execution Note Trust		2.390		07/15/24		5,085
			Series - 2017 A2 (Class A2)

360

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	39,173,313	g	Domino’s Pizza Master Issuer LLC		3.082	%	07/25/47	$	37,815
			Series - 2017 1A (Class A2II)
	3,115,011	g,i	Ellington Loan Acquisition Trust		2.047		05/25/37		2,972
			Series - 2007 2 (Class A2C)
	7,480,000		Ford Credit Auto Lease Trust		2.220		10/15/22		7,480
			Series - 2019 B (Class A3)
	23,800,000		Ford Credit Auto Lease Trust		1.850		03/15/23		23,403
			Series - 2020 A (Class A3)
	8,250,000		Ford Credit Auto Lease Trust		1.880		05/15/23		8,217
			Series - 2020 A (Class A4)
	17,400,000	g	Ford Credit Auto Owner Trust		2.440		01/15/27		17,238
			Series - 2015 2 (Class A)
	16,500,000	g	Ford Credit Auto Owner Trust		2.030		12/15/27		16,498
			Series - 2016 2 (Class A)
	12,000,000	g	Ford Credit Auto Owner Trust		2.620		08/15/28		11,967
			Series - 2017 1 (Class A)
	27,050,000	g	Ford Credit Auto Owner Trust		2.360		03/15/29		26,876
			Series - 2017 2 (Class A)
	3,500,000		Ford Credit Floorplan Master Owner Trust		2.070		05/15/22		3,496
			Series - 2017 1 (Class A1)
	5,000,000		Ford Credit Floorplan Master Owner Trust		2.390		08/15/22		4,969
			Series - 2015 5 (Class A)
	12,000,000		Ford Credit Floorplan Master Owner Trust		2.230		09/15/24		11,519
			Series - 2019 3 (Class A1)
	6,000,000		Ford Credit Floorplan Master Owner Trust		2.480		09/15/24		5,829
			Series - 2017 3 (Class A)
	750,000	g,i	FREMF Mortgage Trust		4.020		03/25/49		731
			Series - 2016 K53 (Class B)
	18,750,000		GM Financial Automobile Leasing Trust		1.670		12/20/22		18,414
			Series - 2020 1 (Class A3)
	9,500,000		GM Financial Automobile Leasing Trust		1.750		07/16/24		9,569
			Series - 2019 4 (Class A3)
	6,000,000	g	GM Financial Consumer Automobile Receivables Trust		2.130		03/16/23		5,998
			Series - 2017 3A (Class A4)
	12,000,000		GM Financial Consumer Automobile Receivables Trust		1.840		09/16/24		12,008
			Series - 2020 1 (Class A3)
	7,800,000		GM Financial Securitized Term		2.180		04/16/24		7,833
			Series - 2019 3 (Class A3)
	7,000,000	g	GMF Floorplan Owner Revolving Trust		2.130		07/15/20		6,979
			Series - 2017 2 (Class A1)
	4,000,000	g	GSCG Trust		2.936		09/06/34		3,885
			Series - 2019 600C (Class A)
	587,957	g	HERO Funding Trust		3.280		09/20/48		606
			Series - 2017 2A (Class A1)
	1,176,516	g	HERO Funding Trust		4.070		09/20/48		1,229
			Series - 2017 2A (Class A2)
	5,250,000	g	Hertz Vehicle Financing II LP		3.710		03/25/23		5,095
			Series - 2019 1A (Class A)
	15,500,000	g	Hertz Vehicle Financing II LP		3.290		02/25/24		14,622
			Series - 2018 1A (Class A)
	5,000,000	g	Hertz Vehicle Financing II LP		3.420		05/25/25		4,784
			Series - 2019 2A (Class A)

361

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	10,000,000	g	Hertz Vehicle Financing LLC		4.030	%	07/25/24	$	9,522
			Series - 2018 3A (Class A)
	4,674,531	g	Hilton Grand Vacations Trust		2.660		12/26/28		4,589
			Series - 2017 AA (Class A)
	4,031,783	g	Hilton Grand Vacations Trust		2.960		12/26/28		3,957
			Series - 2017 AA (Class B)
	2,168,487	g	Hilton Grand Vacations Trust		4.000		02/25/32		2,157
			Series - 2018 AA (Class C)
	9,023,441	g	Hilton Grand Vacations Trust		2.340		07/25/33		7,647
			Series - 2019 AA (Class A)
	805,424	i	Home Equity Asset Trust		3.986		06/25/33		756
			Series - 2003 1 (Class M1)
	22,535,000		Honda Auto Receivables Owner Trust		1.830		01/18/24		22,366
			Series - 2019 4 (Class A3)
	4,880,953	g	Horizon Aircraft Finance III Ltd		3.425		11/15/39		3,416
			Series - 2019 2 (Class A)
	2,443,985	g	Hyundai Auto Lease Securitization Trust		2.210		09/15/21		2,442
			Series - 2017 C (Class A4)
	400,000	g,i	Invitation Homes Trust		2.155		06/17/37		340
			Series - 2018 SFR2 (Class D)
	6,137,334	g,i	Invitation Homes Trust		1.900		01/17/38		5,692
			Series - 2018 SFR4 (Class A)
	2,700,000	g,i	Invitation Homes Trust		2.450		01/17/38		2,224
			Series - 2018 SFR4 (Class D)
	6,569,613	g	JG Wentworth XXII LLC		3.820		12/15/48		6,675
			Series - 2010 3A (Class A)
	4,807,683	i	JP Morgan Mortgage Acquisition Trust		1.267		03/25/37		4,401
			Series - 2007 CH3 (Class A1B)
	19,706,589	i	JP Morgan Mortgage Acquisition Trust		1.107		06/25/37		18,220
			Series - 2007 CH5 (Class A1)
	4,250,000	g	MMAF Equipment Finance LLC		2.070		10/12/22		4,214
			Series - 2019 B (Class A2)
	1,911,968	g	MVW Owner Trust		2.520		12/20/32		1,882
			Series - 2015 1A (Class A)
	4,709,473	g	MVW Owner Trust		2.420		12/20/34		4,583
			Series - 2017 1A (Class A)
	5,111,181	g	MVW Owner Trust		3.450		01/21/36		4,911
			Series - 2018 1A (Class A)
	5,403,389	g	MVW Owner Trust		2.890		11/20/36		5,045
			Series - 2019 1A (Class A)
	1,323,192	g	MVW Owner Trust		3.330		11/20/36		1,210
			Series - 2019 1A (Class C)
	15,305,813	g	MVW Owner Trust		2.220		10/20/38		14,050
			Series - 2019 2A (Class A)
	4,400,000	g	Navient Student Loan Trust		3.390		12/15/59		4,599
			Series - 2019 BA (Class A2A)
	1,408,302	g	Orange Lake Timeshare Trust		3.100		11/08/30		1,381
			Series - 2018 A (Class A)
	14,282,500	g	Planet Fitness Master Issuer LLC		4.262		09/05/48		13,460
			Series - 2018 1A (Class A2I)

362

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,727,623	g	Pretium Mortgage Credit Partners I LLC (Step Bond)		3.844	%	12/25/58	$	2,365
			Series - 2019 NPL2 (Class A1)
	4,491,640	g	Progress Residential Trust		2.897		12/17/34		4,467
			Series - 2017 SFR2 (Class A)
	2,809,000	g	Progress Residential Trust		2.937		10/17/36		2,674
			Series - 2019 SFR4 (Class B)
	4,567,629	g	PRPM LLC (Step Bond)		3.967		04/25/24		4,086
			Series - 2019 2A (Class A1)
	2,790,000	i	RASC Trust		3.080		08/25/35		2,674
			Series - 2005 KS8 (Class M4)
	13,095	i	Renaissance Home Equity Loan Trust		1.827		08/25/33		11
			Series - 2003 2 (Class A)
	6,000,000		Santander Drive Auto Receivables Trust		2.800		08/15/22		5,956
			Series - 2016 3 (Class D)
	8,000,000		Santander Drive Auto Receivables Trust		3.170		04/17/23		7,950
			Series - 2017 1 (Class D)
	6,000,000	g	Santander Retail Auto Lease Trust		2.370		01/20/22		5,995
			Series - 2017 A (Class A4)
	6,750,000	g	Santander Retail Auto Lease Trust		1.890		09/20/22		6,724
			Series - 2019 C (Class A2A)
	14,700,000	g	Santander Retail Auto Lease Trust		2.300		01/20/23		14,542
			Series - 2019 B (Class A3)
	6,750,000	g	Santander Retail Auto Lease Trust		1.860		02/21/23		6,697
			Series - 2019 C (Class A3)
	4,950,000	g	Santander Retail Auto Lease Trust		1.930		11/20/23		4,853
			Series - 2019 C (Class A4)
	1,659,749	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		1,646
			Series - 2015 3A (Class A)
	2,002,023	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		1,986
			Series - 2015 3A (Class B)
	980,819	g	Sierra Timeshare Receivables Funding LLC		3.080		03/21/33		975
			Series - 2016 1A (Class A)
	3,217,484	g	Sierra Timeshare Receivables Funding LLC		2.330		07/20/33		3,173
			Series - 2016 2A (Class A)
	512,338	g	Sierra Timeshare Receivables Funding LLC		2.780		07/20/33		505
			Series - 2016 2A (Class B)
	2,425,644	g	Sierra Timeshare Receivables Funding LLC		2.430		10/20/33		2,390
			Series - 2016 3A (Class A)
	1,437,419	g	Sierra Timeshare Receivables Funding LLC		2.630		10/20/33		1,394
			Series - 2016 3A (Class B)
	7,974,670	g	Sierra Timeshare Receivables Funding LLC		2.910		03/20/34		7,868
			Series - 2017 1A (Class A)
	3,676,252	g	Sierra Timeshare Receivables Funding LLC		3.200		03/20/34		3,621
			Series - 2017 1A (Class B)
	4,605,476	g	Sierra Timeshare Receivables Funding LLC		3.500		06/20/35		4,440
			Series - 2018 2A (Class A)
	4,017,568	g	Sierra Timeshare Receivables Funding LLC		4.170		09/20/35		4,011
			Series - 2018 3A (Class C)
	4,971,719	g	Sierra Timeshare Receivables Funding LLC		3.200		01/20/36		4,933
			Series - 2019 1A (Class A)
	5,747,652	g	Sierra Timeshare Receivables Funding LLC		3.770		01/20/36		5,648
			Series - 2019 1A (Class C)

363

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	7,911,786	g	Sierra Timeshare Receivables Funding LLC		2.590	%	05/20/36	$	7,788
			Series - 2019 2A (Class A)
	4,852,774	g	Sierra Timeshare Receivables Funding LLC		2.340		08/20/36		4,442
			Series - 2019 3A (Class A)
	1,863,480	g	SMB Private Education Loan Trust		2.490		06/15/27		1,827
			Series - 2015 A (Class A2A)
	4,077,462	g	SMB Private Education Loan Trust		2.750		07/15/27		4,101
			Series - 2015 C (Class A2A)
	7,923,516	g	SMB Private Education Loan Trust		2.430		02/17/32		7,975
			Series - 2016 B (Class A2A)
	11,710,755	g	SMB Private Education Loan Trust		2.880		09/15/34		11,896
			Series - 2017 A (Class A2A)
	12,192,557	g	SMB Private Education Loan Trust		2.820		10/15/35		12,071
			Series - 2017 B (Class A2A)
	5,000,000	g	SMB Private Education Loan Trust		3.500		02/15/36		5,221
			Series - 2018 A (Class A2A)
	9,496,092	g	SoFi Professional Loan Program LLC		2.340		04/25/33		9,505
			Series - 2016 D (Class A2B)
	8,352,761	g	SoFi Professional Loan Program LLC		2.490		01/25/36		8,398
			Series - 2016 E (Class A2B)
	1,553,223	g	SoFi Professional Loan Program LLC		2.760		12/26/36		1,566
			Series - 2016 A (Class A2)
	3,609,074	g	SoFi Professional Loan Program LLC		2.400		03/26/40		3,522
			Series - 2017 A (Class A2B)
	9,788,405	g	SoFi Professional Loan Program LLC		2.740		05/25/40		9,885
			Series - 2017 B (Class A2FX)
	3,412,091	g	SoFi Professional Loan Program LLC		2.630		07/25/40		3,375
			Series - 2017 C (Class A2B)
	10,556,000	g	SoFi Professional Loan Program LLC		2.720		11/26/40		10,338
			Series - 2017 E (Class A2B)
	13,500,000	g	SoFi Professional Loan Program LLC		2.840		01/25/41		13,266
			Series - 2017 F (Class A2FX)
	21,000,000	g	SoFi Professional Loan Program LLC		2.950		02/25/42		20,498
			Series - 2018 A (Class A2B)
	21,918,774	g	SoFi Professional Loan Program LLC		2.060		05/15/46		21,349
			Series - 2020 A (Class A1FX)
	3,368,682	g	SoFi Professional Loan Program LLC		3.120		02/25/48		3,384
			Series - 2018 D (Class A1FX)
	5,500,000	g	SoFi Professional Loan Program LLC		3.690		06/15/48		5,322
			Series - 2019 A (Class A2FX)
	2,711,131	g,i	Starwood Waypoint Homes		1.655		01/17/35		2,484
			Series - 2017 1 (Class A)
	190,581	i	Structured Asset Investment Loan Trust		1.847		09/25/34		169
			Series - 2004 8 (Class M1)
	984,556	i	Structured Asset Investment Loan Trust		1.947		09/25/34		916
			Series - 2004 8 (Class A9)
	9,000,000		Synchrony Credit Card Master Note Trust		2.620		10/15/25		9,099
			Series - 2017 2 (Class A)
	16,886,250	g	Taco Bell Funding LLC		4.318		11/25/48		16,464
			Series - 2018 1A (Class A2I)
	20,500,000	g	Tesla Auto Lease Trust		2.160		10/20/22		20,554
			Series - 2019 A (Class A3)
	3,896,169	g	TLF National Tax Lien Trust		3.090		12/15/29		3,883
			Series - 2017 1A (Class A)

364

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	11,675,000		Toyota Auto Receivables Owner Trust		1.910	%	09/15/23	$	11,693
			Series - 2019 C (Class A3)
	28,800,000		Toyota Auto Receivables Owner Trust		1.660		05/15/24		28,704
			Series - 2020 A (Class A3)
	7,580,000	g	Tricon American Homes Trust		4.878		11/17/33		7,218
			Series - 2016 SFR1 (Class E)
	953,207	g	Tricon American Homes Trust		2.716		09/17/34		937
			Series - 2017 SFR1 (Class A)
	4,400,000	g	Tricon American Homes Trust		4.011		09/17/34		4,030
			Series - 2017 SFR1 (Class E)
	3,938,826	g	Tricon American Homes Trust		2.928		01/17/36		3,866
			Series - 2017 SFR2 (Class A)
	1,050,000	g	Tricon American Homes Trust		3.275		01/17/36		1,020
			Series - 2017 SFR2 (Class B)
	12,548,000		UBS Commercial Mortgage Trust		3.256		06/15/50		13,117
			Series - 2017 C1 (Class ASB)
	2,000,000		UBS Commercial Mortgage Trust		3.366		10/15/50		2,091
			Series - 2017 C4 (Class ASB)
	759,920	g	Verizon Owner Trust		1.920		12/20/21		757
			Series - 2017 2A (Class A)
	49,400,000		Verizon Owner Trust		3.230		04/20/23		49,994
			Series - 2018 A (Class A1A)
	20,000,000		Verizon Owner Trust		1.940		04/22/24		19,063
			Series - 2019 C (Class A1A)
	55,800,000		Verizon Owner Trust		1.850		07/22/24		54,434
			Series - 2020 A (Class A1A)
	4,000,000		Volkswagen Auto Lease Trust		2.000		03/21/22		4,003
			Series - 2019 A (Class A2A)
	5,384,258	g	VOLT LXXV LLC (Step Bond)		3.967		02/25/49		4,766
			Series - 2019 NPL2 (Class A1)
	1,642,000	g	VOLT LXXV LLC (Step Bond)		3.967		10/25/49		1,220
			Series - 2019 NPL7 (Class A1B)
	6,600,000	g	VOLT LXXXIV LLC (Step Bond)		3.967		12/27/49		5,308
			Series - 2019 NP10 (Class A1B)
	31,768,750	g	Wendys Funding LLC		3.573		03/15/48		28,993
			Series - 2018 1A (Class A2I)
	3,000,000		World Financial Network Credit Card Master Trust		2.030		04/15/25		2,986
			Series - 2016 A (Class A)
	25,800,000		World Omni Auto Receivables Trust		1.700		01/17/23		25,239
			Series - 2020 A (Class A3)
	9,000,000		World Omni Auto Receivables Trust		2.250		10/16/23		8,986
			Series - 2017 B (Class A4)
			TOTAL ASSET BACKED						1,439,411
OTHER MORTGAGE BACKED - 10.1%
	4,200,000	g,i	20 Times Square Trust		3.100		05/15/35		3,996
			Series - 2018 20TS (Class B)
	25,000,000	g,i	20 TSQ GROUNDCO LLC		3.100		05/15/35		20,942
			Series - 2018 20TS (Class E)
	2,520,498	g,i	Agate Bay Mortgage Trust		3.500		11/25/44		2,496
			Series - 2014 3 (Class A13)

365

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	7,665,695	g,i	Agate Bay Mortgage Trust		3.500	%	09/25/45	$	7,752
			Series - 2015 6 (Class A9)
	1,015,895	i	Alternative Loan Trust		1.447		06/25/34		893
			Series - 2004 8CB (Class M1)
	1,240,000	i	Ameriquest Mortgage Securities		1.967		10/25/34		1,156
			Series - 2004 R9 (Class M3)
	2,500,000	i	BANK		4.072		11/15/50		1,920
			Series - 2017 BNK8 (Class C)
	2,000,000		BANK		2.851		10/17/52		2,057
			Series - 2019 BN21 (Class A5)
	4,000,000		BANK		3.203		12/15/52		3,745
			Series - 2019 BN23 (Class AS)
	2,000,000		BANK		2.758		09/15/62		2,044
			Series - 2019 BN20 (Class A2)
	8,000,000		BANK		3.283		11/15/62		7,536
			Series - 2019 BN24 (Class AS)
	3,850,000	g	BBCMS Mortgage Trust		3.821		09/05/32		3,814
			Series - 2013 TYSN (Class C)
	5,000,000		BBCMS Mortgage Trust		3.488		02/15/50		5,242
			Series - 2017 C1 (Class ASB)
	1,500,000	g,i	BBCMS Trust		4.267		08/05/38		977
			Series - 2018 CHRS (Class E)
	867,355	i	Bear Stearns Commercial Mortgage Securities Trust		5.117		02/11/41		858
			Series - 2005 PWR7 (Class B)
	400,000		Benchmark Mortgage Trust		2.687		09/15/43		409
			Series - 2020 IG1 (Class A3)
	1,000,000	i	Benchmark Mortgage Trust		3.882		02/15/51		1,094
			Series - 2018 B2 (Class A5)
	2,500,000	i	Benchmark Mortgage Trust		4.121		07/15/51		2,783
			Series - 2018 B4 (Class A5)
	1,445,000		Benchmark Mortgage Trust		4.232		01/15/52		1,622
			Series - 2018 B8 (Class A5)
	550,000		Benchmark Mortgage Trust		4.468		03/15/52		523
			Series - 2019 B9 (Class B)
	2,000,000		Benchmark Mortgage Trust		3.419		08/15/52		2,003
			Series - 2019 B12 (Class AS)
	1,200,000		Benchmark Mortgage Trust		2.732		02/15/53		1,222
			Series - 2020 B16 (Class A5)
	830,000		Benchmark Mortgage Trust		4.241		05/15/53		932
			Series - 2018 B7 (Class A3)
	2,500,000		Benchmark Mortgage Trust		3.231		12/15/72		2,467
			Series - 2019 B15 (Class AS)
	2,500,000	g	BWAY Mortgage Trust		3.342		01/10/35		2,163
			Series - 2015 1740 (Class C)
	1,910,801	g,i	BX Commercial Mortgage Trust		1.625		10/15/36		1,818
			Series - 2019 XL (Class A)
	7,698,000	i	CCUBS Commercial Mortgage Trust		3.462		11/15/50		8,106
			Series - 2017 C1 (Class ASB)
	5,167,000		CD Mortgage Trust		2.622		08/10/49		5,235
			Series - 2016 CD1 (Class ASB)
	9,000,000		CD Mortgage Trust		2.926		08/10/49		8,645
			Series - 2016 CD1 (Class AM)
	5,750,000	i	CD Mortgage Trust		3.879		11/10/49		5,445
			Series - 2016 CD2 (Class B)

366

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,000,000	i	CD Mortgage Trust		4.027	%	11/10/49	$	846
			Series - 2016 CD2 (Class C)
	1,000,000		CD Mortgage Trust		3.453		02/10/50		1,045
			Series - 2017 CD3 (Class AAB)
	500,000	i	CD Mortgage Trust		4.560		02/10/50		412
			Series - 2017 CD3 (Class C)
	5,000,000		CD Mortgage Trust		3.220		08/15/50		5,264
			Series - 2017 CD5 (Class AAB)
	1,720,000	i	CD Mortgage Trust		3.684		08/15/50		1,721
			Series - 2017 CD5 (Class AS)
	3,457,000		CD Mortgage Trust		2.812		08/15/57		3,543
			Series - 2019 CD8 (Class ASB)
	1,000,000	g,i	CFCRE Commercial Mortgage Trust		6.089		04/15/44		1,012
			Series - 2011 C1 (Class C)
	945,820		CFCRE Commercial Mortgage Trust		3.121		05/10/58		972
			Series - 2016 C4 (Class AHR)
	1,774,600	i	CHL Mortgage Pass-Through Trust		3.744		02/20/35		1,630
			Series - 2004 HYB9 (Class 1A1)
	5,750,000	g	Citigroup Commercial Mortgage Trust		3.341		05/10/36		5,412
			Series - 2019 PRM (Class A)
	917,000	i	Citigroup Commercial Mortgage Trust		3.732		04/10/46		904
			Series - 2013 GC11 (Class B)
	2,400,000		Citigroup Commercial Mortgage Trust		4.023		03/10/47		2,545
			Series - 2014 GC19 (Class A4)
	3,767,309		Citigroup Commercial Mortgage Trust		3.371		10/10/47		3,840
			Series - 2014 GC25 (Class AAB)
	1,700,000	i	Citigroup Commercial Mortgage Trust		3.758		04/10/48		1,622
			Series - 2015 GC29 (Class B)
	3,000,000	i	Citigroup Commercial Mortgage Trust		4.176		04/10/48		2,540
			Series - 2015 GC29 (Class C)
	1,147,050		Citigroup Commercial Mortgage Trust		1.506		05/10/49		1,141
			Series - 2016 C1 (Class A1)
	5,300,000		Citigroup Commercial Mortgage Trust		3.243		08/15/50		5,525
			Series - 2017 B1 (Class AAB)
	6,765,000		Citigroup Commercial Mortgage Trust		3.764		10/12/50		6,802
			Series - 2017 C4 (Class AS)
	2,000,000		Citigroup Commercial Mortgage Trust		3.778		09/10/58		2,112
			Series - 2015 GC33 (Class A4)
	427,777	i	COBALT CMBS Commercial Mortgage Trust		5.646		04/15/47		424
			Series - 2007 C2 (Class C)
	2,247,000	g	COMM Mortgage Trust		3.086		08/10/29		2,191
			Series - 2016 GCT (Class B)
	5,000,000	g	COMM Mortgage Trust		3.244		10/10/29		4,927
			Series - 2017 PANW (Class A)
	2,000,000	i	COMM Mortgage Trust		4.221		07/10/45		2,090
			Series - 2013 CR9 (Class A4)
	3,727,236		COMM Mortgage Trust		2.853		10/15/45		3,674
			Series - 2012 CR4 (Class A3)
	1,000,000	g	COMM Mortgage Trust		3.147		03/10/46		990
			Series - 2013 CR6 (Class AM)
	3,359,721	g,i	COMM Mortgage Trust		3.953		06/10/46		3,317
			Series - 2013 CR8 (Class B)

367

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,000,000	g,i	COMM Mortgage Trust		4.789	%	08/10/46	$	2,032
			Series - 2013 CR10 (Class B)
	4,780,000	g,i	COMM Mortgage Trust		4.789		08/10/46		4,354
			Series - 2013 CR10 (Class C)
	500,000	g,i	COMM Mortgage Trust		5.288		08/10/46		442
			Series - 2013 LC13 (Class D)
	3,000,000		COMM Mortgage Trust		4.199		03/10/47		3,071
			Series - 2014 UBS2 (Class AM)
	750,000		COMM Mortgage Trust		4.174		05/10/47		768
			Series - 2014 CR17 (Class AM)
	1,843,000	i	COMM Mortgage Trust		4.725		07/15/47		1,635
			Series - 2014 CR18 (Class C)
	1,500,000	i	COMM Mortgage Trust		4.731		08/10/47		1,328
			Series - 2014 CR19 (Class C)
	12,131,817		COMM Mortgage Trust		3.917		10/10/47		12,928
			Series - 2014 LC17 (Class A5)
	1,185,000	i	COMM Mortgage Trust		4.490		10/10/47		1,171
			Series - 2014 LC17 (Class B)
	800,979	i	COMM Mortgage Trust		3.829		02/10/48		768
			Series - 2015 LC19 (Class B)
	1,000,000	g	COMM Mortgage Trust		3.000		03/10/48		649
			Series - 2015 CR22 (Class E)
	1,445,000		COMM Mortgage Trust		3.309		03/10/48		1,507
			Series - 2015 CR22 (Class A5)
	3,382,775	i	COMM Mortgage Trust		3.603		03/10/48		3,390
			Series - 2015 CR22 (Class AM)
	1,805,000	i	COMM Mortgage Trust		4.110		03/10/48		1,563
			Series - 2015 CR22 (Class C)
	7,150,000		COMM Mortgage Trust		3.801		05/10/48		7,229
			Series - 2015 CR23 (Class AM)
	4,000,000	i	COMM Mortgage Trust		4.183		05/10/48		3,926
			Series - 2015 CR23 (Class B)
	3,649,000	i	COMM Mortgage Trust		4.304		05/10/48		3,106
			Series - 2015 CR23 (Class C)
	4,900,000		COMM Mortgage Trust		3.421		07/10/48		5,049
			Series - 2015 LC21 (Class ASB)
	1,500,000	i	COMM Mortgage Trust		3.463		08/10/48		1,127
			Series - 2015 CR24 (Class D)
	2,550,000		COMM Mortgage Trust		3.696		08/10/48		2,722
			Series - 2015 CR24 (Class A5)
	5,000,000	i	COMM Mortgage Trust		4.028		08/10/48		5,109
			Series - 2015 CR24 (Class AM)
	3,685,000	i	COMM Mortgage Trust		4.379		08/10/48		3,611
			Series - 2015 CR24 (Class B)
	1,467,000	i	COMM Mortgage Trust		4.379		08/10/48		1,245
			Series - 2015 CR24 (Class C)
	1,352,000		COMM Mortgage Trust		3.612		10/10/48		1,443
			Series - 2015 CR27 (Class A4)
	2,872,210		COMM Mortgage Trust		3.630		10/10/48		2,986
			Series - 2015 CR26 (Class A4)
	1,575,000		COMM Mortgage Trust		3.774		10/10/48		1,686
			Series - 2015 LC23 (Class A4)
	8,212,000	i	COMM Mortgage Trust		4.360		10/10/48		7,976
			Series - 2015 CR27 (Class B)

368

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,375,000	i	COMM Mortgage Trust		4.484	%	10/10/48	$	1,284
			Series - 2015 CR26 (Class B)
	1,059,318		COMM Mortgage Trust		3.651		02/10/49		1,103
			Series - 2016 CR28 (Class AHR)
	4,650,000	i	COMM Mortgage Trust		4.646		02/10/49		4,668
			Series - 2016 CR28 (Class B)
	1,500,000	i	COMM Mortgage Trust		5.116		08/10/50		1,510
			Series - 2013 CR11 (Class B)
	6,500,000		COMM Mortgage Trust		3.263		08/15/57		6,548
			Series - 2019 GC44 (Class AM)
	23,829,797	i	Connecticut Avenue Securities		3.547		05/25/24		21,381
			Series - 2014 C02 (Class 1M2)
	953,762	i	Connecticut Avenue Securities		3.847		07/25/24		884
			Series - 2014 C03 (Class 2M2)
	14,358,453	i	Connecticut Avenue Securities		3.947		07/25/24		13,138
			Series - 2014 C03 (Class 1M2)
	2,313,800	i	Connecticut Avenue Securities		5.947		11/25/24		2,231
			Series - 2014 C04 (Class 2M2)
	1,111,010	i	Connecticut Avenue Securities		6.497		04/25/28		1,029
			Series - 2015 C04 (Class 2M2)
	1,747,591	i	Connecticut Avenue Securities		6.647		04/25/28		1,728
			Series - 2015 C04 (Class 1M2)
	1,910,672	i	Connecticut Avenue Securities		7.697		08/25/28		1,824
			Series - 2016 C01 (Class 1M2)
	4,084,443	i	Connecticut Avenue Securities		6.847		10/25/28		3,982
			Series - 2016 C03 (Class 2M2)
	4,472,849	i	Connecticut Avenue Securities		5.397		01/25/29		4,269
			Series - 2016 C05 (Class 2M2)
	3,000,000	i	Connecticut Avenue Securities		5.197		04/25/29		2,885
			Series - 2016 C06 (Class 1M2)
	4,765,000	i	Connecticut Avenue Securities		1.797		09/25/29		3,834
			Series - 2017 C02 (Class 2ED4)
	7,450,359	i	Connecticut Avenue Securities		3.147		01/25/30		7,194
			Series - 2017 C05 (Class 1M2A)
	6,857,490	i	Connecticut Avenue Securities		1.397		07/25/30		5,497
			Series - 2018 C01 (Class 1EB1)
	6,757,792	i	Connecticut Avenue Securities		1.847		08/25/30		6,215
			Series - 2018 C02 (Class 2EA2)
	10,670,000	i	Connecticut Avenue Securities		1.797		10/25/30		10,094
			Series - 2018 C03 (Class 1EA2)
	2,583,402	i	Connecticut Avenue Securities		3.497		12/25/30		2,118
			Series - 2018 C04 (Class 2M2)
	987,264	g,i	Connecticut Avenue Securities		3.397		07/25/31		818
			Series - 2019 R01 (Class 2M2)
	2,810,153	g,i	Connecticut Avenue Securities		3.097		09/25/31		2,301
			Series - 2019 R03 (Class 1M2)
	987,257	g,i	Connecticut Avenue Securities		1.697		01/25/40		948
			Series - 2020 R02 (Class 2M1)
	7,500,722	g,i	Connecticut Avenue Securities		1.747		01/25/40		7,172
			Series - 2020 R01 (Class 1M1)
	1,240,000	g,i	Connecticut Avenue Securities		2.947		01/25/40		804
			Series - 2020 R02 (Class 2M2)

369

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,750,000	g	CPT Mortgage Trust		2.865	%	11/13/39	$	3,673
			Series - 2019 CPT (Class A)
	2,000,000	g,i	CPT Mortgage Trust		2.997		11/13/39		1,524
			Series - 2019 CPT (Class E)
	7,400,000	g,i	Credit Suisse Commercial Mortgage Trust		3.728		11/10/32		7,008
			Series - 2017 CALI (Class B)
	2,773,000	g,i	Credit Suisse Commercial Mortgage Trust		1.597		05/25/36		2,613
			Series - 2006 CF2 (Class M3)
	14,995,141	g,i	Credit Suisse Commercial Mortgage Trust		3.500		02/25/48		15,237
			Series - 2018 J1 (Class A11)
	4,689,000	g,i	Credit Suisse Commercial Mortgage Trust		5.896		01/15/49		5,569
			Series - 2007 C2 (Class C)
	4,171,000		CSAIL Commercial Mortgage Trust		3.314		11/15/49		4,307
			Series - 2016 C7 (Class ASB)
	9,250,000		DBGS Mortgage Trust		4.466		10/15/51		10,487
			Series - 2018 C1 (Class A4)
	11,000,000		DBJPM Mortgage Trust		2.756		08/10/49		11,160
			Series - 2016 C3 (Class ASB)
	10,000,000		DBJPM Mortgage Trust		3.121		06/10/50		10,330
			Series - 2017 C6 (Class ASB)
	17,410,000	g	DBUBS Mortgage Trust		3.452		10/10/34		17,191
			Series - 2017 BRBK (Class A)
	15,500,000	g,i	DBUBS Mortgage Trust		3.530		10/10/34		14,717
			Series - 2017 BRBK (Class B)
	3,162,466	g	DBUBS Mortgage Trust		4.452		05/10/44		3,203
			Series - 2011 LC3A (Class PM1)
	23,978,511	g	DBUBS Mortgage Trust		4.537		07/10/44		24,318
			Series - 2011 LC2A (Class A4)
	3,100,000	g,i	DBUBS Mortgage Trust		4.998		07/10/44		3,169
			Series - 2011 LC2A (Class B)
	5,000,000	g,i	DBUBS Mortgage Trust		5.530		07/10/44		5,043
			Series - 2011 LC2A (Class C)
	2,084,000	g,i	DBUBS Mortgage Trust		5.335		08/10/44		2,145
			Series - 2011 LC3A (Class B)
	5,500,000	g,i	DBUBS Mortgage Trust		5.335		08/10/44		5,618
			Series - 2011 LC3A (Class AM)
	5,625,000	g,i	DBUBS Mortgage Trust		5.689		11/10/46		5,520
			Series - 2011 LC1A (Class C)
	2,051,000	g,i	Ellington Financial Mortgage Trust		3.587		06/25/59		1,852
			Series - 2019 1 (Class M1)
	2,605,725	i	Fieldstone Mortgage Investment Trust		1.682		12/25/35		2,501
			Series - 2005 2 (Class M2)
	2,421,956	g,i	FirstKey Mortgage Trust		3.500		11/25/44		2,399
			Series - 2014 1 (Class A8)
	5,892,922	g,i	Flagstar Mortgage Trust		3.500		03/25/47		5,931
			Series - 2017 1 (Class 1A5)
	2,598,808	g,i	Flagstar Mortgage Trust		4.113		10/25/47		2,353
			Series - 2017 2 (Class B3)
	2,188,657	g,i	Flagstar Mortgage Trust		4.000		09/25/48		2,162
			Series - 2018 5 (Class A11)
	10,000,000	g	GRACE Mortgage Trust		3.369		06/10/28		10,051
			Series - 2014 GRCE (Class A)
	8,970,000	g	GRACE Mortgage Trust		3.520		06/10/28		8,991
			Series - 2014 GRCE (Class B)

370

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,533,515	i	Greenwich Capital Commercial Funding Corp		5.513	%	07/10/38	$	1,524
			Series - 2006 GG7 (Class AM)
	5,943,000	g	GS Mortgage Securities Corp II		3.551		04/10/34		5,892
			Series - 2012 ALOH (Class A)
	4,430,000	g	GS Mortgage Securities Corp II		2.954		11/05/34		4,346
			Series - 2012 BWTR (Class A)
	350,000	i	GS Mortgage Securities Corp II		3.777		05/10/50		353
			Series - 2015 GC30 (Class AS)
	1,000,000	i	GS Mortgage Securities Corp II		3.992		03/10/51		1,072
			Series - 2018 GS9 (Class A4)
	3,500,000	i	GS Mortgage Securities Corp II		4.155		07/10/51		3,801
			Series - 2018 GS10 (Class A5)
	5,910,000	g,i	GS Mortgage Securities Trust		5.180		12/10/43		5,978
			Series - 2010 C2 (Class B)
	2,816,500		GS Mortgage Securities Trust		3.396		02/10/48		2,909
			Series - 2015 GC28 (Class A5)
	2,000,000	i	GS Mortgage Securities Trust		4.018		07/10/48		2,043
			Series - 2015 GC32 (Class AS)
	3,360,000		GS Mortgage Securities Trust		3.278		10/10/48		3,463
			Series - 2015 GC34 (Class AAB)
	2,250,000		GS Mortgage Securities Trust		2.635		05/10/49		2,252
			Series - 2016 GS2 (Class A2)
	1,000,000		GS Mortgage Securities Trust		3.143		10/10/49		972
			Series - 2016 GS3 (Class AS)
	2,000,000		GS Mortgage Securities Trust		3.674		03/10/50		2,095
			Series - 2017 GS5 (Class A4)
	4,000,000	i	GS Mortgage Securities Trust		3.826		03/10/50		4,042
			Series - 2017 GS5 (Class AS)
	12,000,000		GS Mortgage Securities Trust		3.230		05/10/50		12,457
			Series - 2017 GS6 (Class AAB)
	6,000,000		GS Mortgage Securities Trust		3.433		05/10/50		6,101
			Series - 2017 GS6 (Class A3)
	3,000,000	i	GS Mortgage Securities Trust		4.087		05/10/50		2,523
			Series - 2015 GC30 (Class C)
	3,000,000		GS Mortgage Securities Trust		3.837		11/10/50		3,198
			Series - 2017 GS8 (Class ABP)
	4,000,000	g,i	GS Mortgage Securities Trust		3.550		07/10/52		3,538
			Series - 2019 GC40 (Class DBC)
	2,500,000		GS Mortgage Securities Trust		3.173		02/13/53		2,353
			Series - 2020 GC45 (Class AS)
	2,602,881	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		2,624
			Series - 2019 PJ2 (Class A1)
	6,799,241	g,i	GS Mortgage-Backed Securities Corp Trust		4.000		11/25/49		6,823
			Series - 2019 PJ2 (Class A4)
	3,508,658	i	HarborView Mortgage Loan Trust		1.370		08/19/45		2,960
			Series - 2005 11 (Class 2A1A)
	6,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		6,141
			Series - 2016 10HY (Class A)
	2,500,000	g,i	Hudson Yards Mortgage Trust		2.977		08/10/38		2,499
			Series - 2016 10HY (Class B)
	7,250,000	g,i	Hudson Yards Mortgage Trust		2.977		08/10/38		7,042
			Series - 2016 10HY (Class C)

371

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	3,000,000	g,i	Hudson Yards Mortgage Trust		2.943	%	12/10/41	$	2,646
			Series - 2019 55HY (Class E)
	8,000,000	g,i	Hudson Yards Mortgage Trust		2.943		12/10/41		7,171
			Series - 2019 55HY (Class D)
	518,127	i	Impac CMB Trust		1.607		03/25/35		447
			Series - 2004 11 (Class 2A1)
	2,800,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.372		12/15/47		2,809
			Series - 2013 C10 (Class AS)
	22,020,770	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.717		02/15/46		22,260
			Series - 2011 C3 (Class A4)
	10,975,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.360		02/15/46		10,699
			Series - 2011 C3 (Class C)
	5,318,099	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.388		07/15/46		5,398
			Series - 2011 C4 (Class A4)
	15,000,000	g	JP Morgan Chase Commercial Mortgage Securities Trust		4.801		07/15/46		15,330
			Series - 2011 C4 (Class B)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Trust		5.403		07/15/46		6,495
			Series - 2011 C4 (Class C)
	1,430,000		JP Morgan Chase Commercial Mortgage Securities Trust		3.914		01/15/49		1,539
			Series - 2015 JP1 (Class A5)
	750,000	i	JP Morgan Chase Commercial Mortgage Securities Trust		4.119		01/15/49		776
			Series - 2015 JP1 (Class AS)
	7,000,000		JP Morgan Chase Commercial Mortgage Securities Trust		2.713		08/15/49		7,084
			Series - 2016 JP2 (Class ASB)
	4,500,000		JP Morgan Chase Commercial Mortgage Securities Trust		3.379		09/15/50		4,672
			Series - 2017 JP7 (Class A3)
	4,800,670	g,i	JP Morgan Mortgage Trust		2.974		12/25/44		3,845
			Series - 2015 1 (Class B1)
	1,206,876	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		1,195
			Series - 2015 3 (Class A19)
	8,633,920	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		8,496
			Series - 2015 6 (Class A13)
	822,479	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		814
			Series - 2016 1 (Class A5)
	2,562,196	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		2,550
			Series - 2016 1 (Class A13)
	452,881	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		455
			Series - 2017 1 (Class A3)
	8,375,698	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		8,266
			Series - 2017 2 (Class A5)
	5,472,156	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		5,471
			Series - 2017 2 (Class A13)
	695,820	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		693
			Series - 2017 3 (Class 1A5)

372

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,963,687	g,i	JP Morgan Mortgage Trust		3.500	%	09/25/48	$	1,910
			Series - 2018 3 (Class A13)
	2,531,292	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		2,528
			Series - 2018 4 (Class A5)
	662,204	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		644
			Series - 2018 4 (Class A13)
	2,575,945	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		2,504
			Series - 2018 5 (Class A13)
	662,895	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		664
			Series - 2018 8 (Class A5)
	2,600,697	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		2,569
			Series - 2018 8 (Class A13)
	7,583,718	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		7,730
			Series - 2018 9 (Class A13)
	4,035,528	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		4,086
			Series - 2019 1 (Class A3)
	6,765,372	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		6,657
			Series - 2019 1 (Class A15)
	3,691,451	g,i	JP Morgan Mortgage Trust		4.000		08/25/49		3,651
			Series - 2019 2 (Class A4)
	1,562,079	g,i	JP Morgan Mortgage Trust		4.751		09/25/49		1,481
			Series - 2019 3 (Class B1)
	44,696	g,i	JP Morgan Mortgage Trust		4.000		11/25/49		45
			Series - 2019 5 (Class A4)
	7,127,664	g,i	JP Morgan Mortgage Trust		3.895		06/25/50		5,659
			Series - 2020 1 (Class B2)
	1,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.133		08/15/46		1,055
			Series - 2013 C14 (Class A4)
	3,000,000		JPMBB Commercial Mortgage Securities Trust		3.775		08/15/47		3,168
			Series - 2014 C21 (Class A5)
	5,000,000		JPMBB Commercial Mortgage Securities Trust		3.997		08/15/47		5,125
			Series - 2014 C21 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust		4.473		09/15/47		1,994
			Series - 2014 C23 (Class B)
	3,000,000		JPMBB Commercial Mortgage Securities Trust		3.898		02/15/48		2,883
			Series - 2015 C27 (Class B)
	2,556,000		JPMBB Commercial Mortgage Securities Trust		3.611		05/15/48		2,702
			Series - 2015 C29 (Class A4)
	2,500,000	i	JPMBB Commercial Mortgage Securities Trust		3.917		05/15/48		2,557
			Series - 2015 C29 (Class AS)
	2,500,000	i	JPMBB Commercial Mortgage Securities Trust		4.118		05/15/48		2,415
			Series - 2015 C29 (Class B)
	3,500,000		JPMBB Commercial Mortgage Securities Trust		4.106		08/15/48		3,614
			Series - 2015 C31 (Class AS)
	9,125,000	i	JPMBB Commercial Mortgage Securities Trust		4.620		08/15/48		9,048
			Series - 2015 C31 (Class B)
	3,253,000	i	JPMBB Commercial Mortgage Securities Trust		4.620		08/15/48		2,790
			Series - 2015 C31 (Class C)
	2,610,000		JPMBB Commercial Mortgage Securities Trust		3.576		03/15/49		2,765
			Series - 2016 C1 (Class A5)
	4,750,000		JPMCC Commercial Mortgage Securities Trust		3.457		03/15/50		5,041
			Series - 2017 JP5 (Class A4)

373

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,000,000	i	JPMCC Commercial Mortgage Securities Trust		3.876	%	03/15/50	$	2,050
			Series - 2017 JP5 (Class AS)
	1,300,000	i	JPMDB Commercial Mortgage Securities Trust		3.638		12/15/49		1,196
			Series - 2016 C4 (Class B)
	3,910,533	g	Ladder Capital Commercial Mortgage Securities		3.575		02/15/36		3,892
			Series - 2013 GCP (Class A1)
	5,000,000	g	Ladder Capital Commercial Mortgage Securities		3.357		07/12/50		5,227
			Series - 2017 LC26 (Class ASB)
	7,250,000	g	Liberty Street Trust		3.597		02/10/36		7,499
			Series - 2016 225L (Class A)
	4,000,000	g,i	MAD Mortgage Trust		3.082		08/15/34		3,839
			Series - 2017 330M (Class A)
	980,196	i	Merrill Lynch Mortgage Investors Trust		2.278		01/25/37		824
			Series - 2006 WMC1 (Class A1B)
	1,866,018		Morgan Stanley Bank of America Merrill Lynch Trust		2.469		02/15/46		1,874
			Series - 2013 C7 (Class AAB)
	2,898,529	g	Morgan Stanley Bank of America Merrill Lynch Trust		3.989		12/15/46		2,835
			Series - 2014 C19 (Class LNC1)
	2,387,586	g	Morgan Stanley Bank of America Merrill Lynch Trust		4.384		12/15/46		2,051
			Series - 2014 C19 (Class LNC2)
	908,967		Morgan Stanley Bank of America Merrill Lynch Trust		3.669		02/15/47		913
			Series - 2014 C14 (Class A3)
	221,202		Morgan Stanley Bank of America Merrill Lynch Trust		3.194		10/15/47		221
			Series - 2014 C18 (Class A2)
	4,650,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.832		12/15/47		4,703
			Series - 2014 C19 (Class AS)
	1,600,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.605		02/15/48		1,603
			Series - 2015 C20 (Class AS)
	2,640,000	i	Morgan Stanley Bank of America Merrill Lynch Trust		4.462		02/15/48		2,282
			Series - 2015 C20 (Class C)
	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.338		03/15/48		2,558
			Series - 2015 C21 (Class A4)
	5,500,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.652		03/15/48		5,521
			Series - 2015 C21 (Class AS)
	2,925,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.306		04/15/48		3,054
			Series - 2015 C22 (Class A4)
	3,000,000		Morgan Stanley Bank of America Merrill Lynch Trust		3.561		04/15/48		2,999
			Series - 2015 C22 (Class AS)
	1,022,904	i	Morgan Stanley Capital I Trust		1.772		08/25/34		978
			Series - 2004 HE6 (Class M1)
	7,548,000	g	Morgan Stanley Capital I Trust		4.193		09/15/47		6,057
			Series - 2011 C1 (Class F)

374

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,075,000	g,i	Morgan Stanley Capital I Trust		5.375	%	09/15/47	$	4,353
			Series - 2011 C1 (Class D)
	2,795,000	i	Morgan Stanley Capital I Trust		3.779		05/15/48		2,920
			Series - 2015 MS1 (Class A4)
	773,139	†,i	Morgan Stanley Capital I Trust		6.149		12/12/49		461
			Series - 2007 IQ16 (Class AJ)
	527,380	†,i	Morgan Stanley Capital I Trust		6.149		12/12/49		314
			Series - 2007 IQ16 (Class AJFX)
	6,000,000		Morgan Stanley Capital I Trust		3.304		06/15/50		6,252
			Series - 2017 H1 (Class ASB)
	5,250,000		Morgan Stanley Capital I Trust		4.177		07/15/51		5,771
			Series - 2018 H3 (Class A5)
	5,000,000	g,i	MSDB Trust		3.316		07/11/39		4,720
			Series - 2017 712F (Class A)
	1,200,000	g,i	Natixis Commercial Mortgage Securities Trust		3.790		11/15/32		1,189
			Series - 2018 285M (Class A)
	6,400,000	g,i	Natixis Commercial Mortgage Securities Trust		3.790		11/15/32		6,222
			Series - 2018 285M (Class C)
	14,600,000	g,i	Natixis Commercial Mortgage Securities Trust		2.205		07/15/36		13,663
			Series - 2019 MILE (Class A)
	5,000,000	g,i	Natixis Commercial Mortgage Securities Trust		2.505		07/15/36		4,700
			Series - 2019 MILE (Class B)
	5,000,000	g,i	Natixis Commercial Mortgage Securities Trust		3.455		07/15/36		4,851
			Series - 2019 MILE (Class D)
	5,000,000	g	Natixis Commercial Mortgage Securities Trust		2.507		10/15/36		4,716
			Series - 2019 1776 (Class A)
	2,000,000	g	Natixis Commercial Mortgage Securities Trust		2.966		12/15/38		1,926
			Series - 2020 2PAC (Class A)
	48,718	g,i	New Residential Mortgage Loan Trust		3.750		05/28/52		50
			Series - 2015 1A (Class A3)
	127,597	g,i	New Residential Mortgage Loan Trust		4.000		08/27/57		132
			Series - 2017 6A (Class A1)
	960,530	i	New York Mortgage Trust		1.427		02/25/36		873
			Series - 2005 3 (Class A1)
	949,895	g	Prima Capital CRE Securitization Ltd		2.550		08/24/49		946
			Series - 2015 4A (Class MR-A)
	2,000,000	g	RBS Commercial Funding, Inc Trust		3.511		03/11/31		1,905
			Series - 2013 SMV (Class B)
	2,859,608	g,i	Sequoia Mortgage Trust		3.500		05/25/45		2,914
			Series - 2015 2 (Class A1)
	2,625,872	g,i	Sequoia Mortgage Trust		3.500		06/25/46		2,659
			Series - 2016 1 (Class A19)
	1,474,643	g,i	Sequoia Mortgage Trust		3.500		11/25/46		1,481
			Series - 2016 3 (Class A10)
	5,047,858	g,i	Sequoia Mortgage Trust		3.500		02/25/47		5,088
			Series - 2017 2 (Class A4)
	646,644	g,i	Sequoia Mortgage Trust		3.500		02/25/47		644
			Series - 2017 2 (Class A19)
	7,773,912	g,i	Sequoia Mortgage Trust		3.500		04/25/47		7,809
			Series - 2017 3 (Class A4)
	228,235	g,i	Sequoia Mortgage Trust		3.500		04/25/47		231
			Series - 2017 3 (Class A19)

375

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	974,299	g,i	Sequoia Mortgage Trust		3.500	%	09/25/47	$	981
			Series - 2017 6 (Class A4)
	2,325,060	g,i	Sequoia Mortgage Trust		3.754		09/25/47		2,185
			Series - 2017 6 (Class B1)
	1,952,442	g,i	Sequoia Mortgage Trust		3.500		02/25/48		1,972
			Series - 2018 2 (Class A1)
	368,385	g,i	Sequoia Mortgage Trust		3.500		02/25/48		371
			Series - 2018 2 (Class A19)
	8,239,162	g,i	Sequoia Mortgage Trust		3.500		03/25/48		8,295
			Series - 2018 3 (Class A1)
	786,641	g,i	Sequoia Mortgage Trust		3.500		03/25/48		783
			Series - 2018 3 (Class A4)
	1,607,211	g,i	Sequoia Mortgage Trust		4.000		09/25/48		1,602
			Series - 2018 7 (Class A4)
	1,226,349	g,i	Sequoia Mortgage Trust		4.000		09/25/48		1,232
			Series - 2018 7 (Class A19)
	1,741,499	g,i	Sequoia Mortgage Trust		4.000		11/25/48		1,779
			Series - 2018 8 (Class A19)
	1,038,885	g,i	Sequoia Mortgage Trust		4.000		11/25/48		1,065
			Series - 2018 8 (Class A1)
	8,554,920	g,i	Sequoia Mortgage Trust		4.000		06/25/49		8,506
			Series - 2019 2 (Class A1)
	2,691,629	g,i	Sequoia Mortgage Trust		4.000		06/25/49		2,664
			Series - 2019 2 (Class A19)
	12,144,908	g,i	Sequoia Mortgage Trust		3.500		11/25/49		12,319
			Series - 2019 4 (Class A1)
	12,009,659	g,i	Sequoia Mortgage Trust		3.500		12/25/49		12,225
			Series - 2019 5 (Class A1)
	6,934,548	g,i	Sequoia Mortgage Trust		3.500		12/25/49		7,020
			Series - 2019 5 (Class A19)
	17,256,000	g,i	Sequoia Mortgage Trust		3.000		04/25/50		17,387
			Series - 2020 3 (Class A19)
	1,805,579	g,i	Shellpoint Co-Originator Trust		3.500		11/25/46		1,808
			Series - 2016 1 (Class 1A10)
	1,460,481	i	Structured Agency Credit Risk Debt Note (STACR)		3.147		09/25/24		1,450
			Series - 2014 HQ2 (Class M2)
	6,124,136	i	STACR		2.897		05/25/25		5,858
			Series - 2015 HQ2 (Class M2)
	5,571,109	i	STACR		5.597		10/25/28		5,293
			Series - 2016 DNA2 (Class M3)
	729,090	i	STACR		2.247		03/25/29		719
			Series - 2016 DNA4 (Class M2)
	14,780,000	i	STACR		4.197		07/25/29		13,006
			Series - 2017 DNA1 (Class M2)
	8,295,340	i	STACR		2.147		10/25/29		8,077
			Series - 2017 DNA2 (Class M1)
	8,351,574	i	STACR		1.697		03/25/30		8,215
			Series - 2017 DNA3 (Class M1)
	13,182,895	i	STACR		1.897		04/25/30		12,323
			Series - 2017 HQA3 (Class M2AS)
	4,793,088	i	STACR		3.297		04/25/30		4,115
			Series - HQA3 (Class M2)
	1,576,684	g,i	STACR		3.729		02/25/48		1,567
			Series - 2018 SPI1 (Class M1)

376

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,297,693	g,i	STACR		3.811	%	05/25/48	$	2,223
			Series - 2018 SPI2 (Class M1)
	2,003,784	g,i	STACR		4.148		08/25/48		1,956
			Series - 2018 SPI3 (Class M1)
	10,778,142	g,i	STACR		4.461		11/25/48		8,864
			Series - 2018 SPI4 (Class M2)
	3,300,000	g,i	STACR		2.997		11/25/49		2,438
			Series - 2019 HQA4 (Class M2)
	3,400,000	g,i	STACR		2.797		02/25/50		2,160
			Series - 2020 DNA2 (Class M2)
	2,645,000	g,i	STACR		3.911		03/25/50		1,702
			Series - 2020 HQA2 (Class M2)
	4,000,000		UBS-Barclays Commercial Mortgage Trust		2.850		12/10/45		3,987
			Series - 2012 C4 (Class A5)
	4,585,000	g	VNDO Mortgage Trust		3.808		12/13/29		4,575
			Series - 2013 PENN (Class A)
	1,100,000	g,i	VNDO Mortgage Trust		3.947		12/13/29		1,087
			Series - 2013 PENN (Class C)
	1,640,112	g	VSE VOI Mortgage LLC		2.540		07/20/33		1,608
			Series - 2016 A (Class A)
	1,257,664	g	VSE VOI Mortgage LLC		2.740		07/20/33		1,217
			Series - 2016 A (Class B)
	4,628,723	g	VSE VOI Mortgage LLC		2.330		03/20/35		4,489
			Series - 2017 A (Class A)
	4,725,000	g,i	Wells Fargo Commercial Mortgage Trust		5.276		11/15/43		4,726
			Series - 2010 C1 (Class B)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.539		10/15/45		10,053
			Series - 2012 LC5 (Class AS)
	1,740,030		Wells Fargo Commercial Mortgage Trust		3.405		12/15/47		1,785
			Series - 2014 LC18 (Class A5)
	990,000		Wells Fargo Commercial Mortgage Trust		3.406		05/15/48		982
			Series - 2015 NXS1 (Class AS)
	6,700,000		Wells Fargo Commercial Mortgage Trust		3.540		05/15/48		6,923
			Series - 2015 C28 (Class A4)
	2,000,000	i	Wells Fargo Commercial Mortgage Trust		3.658		05/15/48		1,909
			Series - 2015 NXS1 (Class B)
	2,166,000		Wells Fargo Commercial Mortgage Trust		3.637		06/15/48		2,249
			Series - 2015 C29 (Class A4)
	10,000,000		Wells Fargo Commercial Mortgage Trust		2.788		07/15/48		10,161
			Series - 2016 C35 (Class ASB)
	344,605		Wells Fargo Commercial Mortgage Trust		1.321		08/15/49		341
			Series - 2016 BNK1 (Class A1)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		15,108
			Series - 2016 BNK1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		15,423
			Series - 2016 LC24 (Class ASB)
	10,818,478		Wells Fargo Commercial Mortgage Trust		2.749		03/15/50		10,871
			Series - 2017 RB1 (Class A2)
	7,500,000		Wells Fargo Commercial Mortgage Trust		3.446		03/15/50		7,852
			Series - 2017 RB1 (Class ASB)
	872,111		Wells Fargo Commercial Mortgage Trust		3.635		03/15/50		931
			Series - 2017 RB1 (Class A5)

377

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	1,825,000		Wells Fargo Commercial Mortgage Trust		3.184	%	04/15/50	$	1,855
			Series - 2015 LC20 (Class A5)
	15,000,000		Wells Fargo Commercial Mortgage Trust		3.261		07/15/50		15,579
			Series - 2017 C38 (Class ASB)
	7,000,000		Wells Fargo Commercial Mortgage Trust		3.453		07/15/50		7,306
			Series - 2017 C38 (Class A5)
	1,755,000	i	Wells Fargo Commercial Mortgage Trust		3.903		07/15/50		1,360
			Series - 2017 C38 (Class C)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.212		09/15/50		10,385
			Series - 2017 C39 (Class ASB)
	4,710,000		Wells Fargo Commercial Mortgage Trust		4.302		01/15/52		5,124
			Series - 2018 C48 (Class A5)
	8,050,000	i	Wells Fargo Commercial Mortgage Trust		3.767		07/15/58		8,410
			Series - 2015 NXS2 (Class A5)
	1,000,000	i	Wells Fargo Commercial Mortgage Trust		4.313		07/15/58		995
			Series - 2015 NXS2 (Class B)
	3,800,000		Wells Fargo Commercial Mortgage Trust		3.560		01/15/59		3,940
			Series - 2016 C32 (Class A4)
	6,000,000		Wells Fargo Commercial Mortgage Trust		3.749		03/15/59		6,044
			Series - 2016 C33 (Class AS)
	650,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		664
			Series - 2016 C36 (Class ASB)
	4,748,271	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		4,784
			Series - 2019 2 (Class A17)
	16,884,675	g,i	Wells Fargo Mortgage Backed Securities Trust		3.500		09/25/49		17,165
			Series - 2019 4 (Class A1)
	2,030,000	g,i	WFRBS Commercial Mortgage Trust		5.392		02/15/44		1,983
			Series - 2011 C2 (Class C)
	30,000,000	g,i	WFRBS Commercial Mortgage Trust		4.902		06/15/44		30,566
			Series - 2011 C4 (Class A4)
	2,200,000	i	WFRBS Commercial Mortgage Trust		3.714		03/15/45		2,163
			Series - 2013 C11 (Class B)
	1,750,000		WFRBS Commercial Mortgage Trust		3.345		05/15/45		1,740
			Series - 2013 C13 (Class AS)
	4,000,000	i	WFRBS Commercial Mortgage Trust		4.079		03/15/46		4,170
			Series - 2013 UBS1 (Class A4)
	1,050,000	i	WFRBS Commercial Mortgage Trust		4.162		12/15/46		1,100
			Series - 2013 C18 (Class A5)
	2,185,281		WFRBS Commercial Mortgage Trust		3.995		05/15/47		2,289
			Series - 2014 C20 (Class A5)
	9,865,000		WFRBS Commercial Mortgage Trust		3.607		11/15/47		10,279
			Series - 2014 C24 (Class A5)
			TOTAL OTHER MORTGAGE BACKED						1,422,449
			TOTAL STRUCTURED ASSETS						2,861,860
			(Cost $2,955,324)
			TOTAL BONDS						13,257,664
			(Cost $12,930,504)

378

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

SHARES			COMPANY					VALUE (000)
COMMON STOCKS - 0.0%
TELECOMMUNICATION SERVICES - 0.0%
	147,623	*	Oi S.A. (ADR)					$	65
			TOTAL TELECOMMUNICATION SERVICES						65
			TOTAL COMMON STOCKS						65
			(Cost $1,332)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp						2,866
	1,527,061	*	Federal National Mortgage Association						9,666
			TOTAL BANKS						12,532
			TOTAL PREFERRED STOCKS						12,532
			(Cost $49,941)
PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 3.1%
GOVERNMENT AGENCY DEBT - 3.0%
$	5,000,000		Federal Farm Credit Bank (FFCB)		0.100	%	11/20/20		4,995
	2,221,000		Federal Home Loan Bank (FHLB)		0.030		04/08/20		2,221
	12,922,000		FHLB		0.700		04/13/20		12,922
	45,120,000		FHLB		0.030-1.540		04/15/20		45,119
	25,800,000		FHLB		0.050-1.550		04/17/20		25,799
	19,737,000		FHLB		0.120		05/04/20		19,736
	10,000,000		FHLB		0.120		05/11/20		9,999
	10,000,000		FHLB		0.120		05/12/20		9,999
	20,000,000		FHLB		0.150		05/28/20		19,998
	20,000,000		FHLB		0.070-0.170		06/24/20		19,997
	10,000,000		FHLB		0.120		06/29/20		9,998
	4,810,000		FHLB		0.120		07/09/20		4,809
	7,125,000		FHLB		0.200		07/13/20		7,123
	15,000,000		FHLB		0.010		07/20/20		14,996
	6,220,000		FHLB		0.125		07/22/20		6,218
	25,000,000		FHLB		0.130		07/24/20		24,993
	5,000,000		FHLB		0.030		07/27/20		4,999
	25,000,000		FHLB		0.150		07/31/20		24,992
	21,600,000		FHLB		0.020-0.270		09/15/20		21,587
	25,500,000		FHLB		0.060		10/01/20		25,482
	5,000,000		FHLB		0.120		02/16/21		4,993
	10,000,000		FHLB		0.170		03/08/21		9,984
	15,770,000		FHLB		0.120-0.401		03/09/21		15,744
	26,057,000		Federal Home Loan Mortgage Corp (FHLMC)		0.100		08/19/20		26,046
	10,000,000		FHLMC		0.050		10/19/20		9,992
	10,000,000		Federal National Mortgage Association (FNMA)		0.249		09/23/20		9,993
	5,000,000		FNMA		0.080		11/13/20		4,996
	20,000,000		FNMA		0.020		10/16/20		19,985
			TOTAL GOVERNMENT AGENCY DEBT						417,715

379

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
TREASURY DEBT - 0.1%
EGP	16,500,000	j	Egypt Treasury Bill		0.000	%	04/28/20	$	1,040
	22,325,000	j	Egypt Treasury Bill		0.000		05/12/20		1,400
	45,000,000	j	Egypt Treasury Bill		0.000		08/25/20		2,714
	26,500,000	j	Egypt Treasury Bill		0.000		01/05/21		1,526
$	12,000,000		United States Treasury Bill		0.510		04/09/20		12,000
			TOTAL TREASURY DEBT						18,680
			TOTAL SHORT-TERM INVESTMENTS						436,395
			(Cost $436,138)
			TOTAL INVESTMENTS - 97.5%						13,790,814
			(Cost $13,511,935)
			OTHER ASSETS & LIABILITIES, NET - 2.5%						350,619
			NET ASSETS - 100.0%					$	14,141,433
			Abbreviation(s):
	ADR		American Depositary Receipt
	AUD		Australian Dollar
	BRL		Brazilian Real
	CAD		Canadian Dollar
	CNY		Chinese Yuan
	CZK		Czechoslovak Koruna
	DOP		Dominican Republic Peso
	EGP		Egyptian Pound
	EUR		Euro
	GBP		Pound Sterling
	IDR		Indonesian Rupiah
	ILS		Israeli New Shekel
	JPY		Japanese Yen
	KRW		South Korean Won
	LIBOR		London Interbank Offered Rate
	M		Month
	MYR		Malaysian Ringgit
	NOK		Norwegian Krone
	NZD		New Zealand Dollar
	PEN		Peruvian Sol
	PLN		Polish Zloty
	REIT		Real Estate Investment Trust
	RSD		Serbian Dinar
	SGD		Singapore Dollar
	THB		Thai Baht
	UAH		Ukrainian Hryvnia
	UYU		Uruguayan Peso
	W		Week
	ZAR		South African Rand

*	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, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/20, the aggregate value of these securities is $2,487,673,451 or 17.6% of net assets.

380

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

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
q	In default
	Cost amounts are in thousands.

Futures contracts outstanding as of March 31, 2020 were as follows (notional amounts and values are in thousands):

Description	Number of long (short) contracts	Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
US 10 Year Note (CBT)	7	06/19/20		$     955	$	971		$     16

Forward foreign currency contracts outstanding as of March 31, 2020 were as follows (dollar amounts are in thousands):

Currency to be purchased		Receive	Currency to be sold	Deliver	Counterparty	Settlement date		Unrealized appreciation (depreciation)
	$	39,390	JPY	4,302,031	Australia and New Zealand Banking Group		06/30/20	$	(774	)
	$	987	SGD	1,418	Australia and New Zealand Banking Group		04/30/20		(11	)
	$	1,821	THB	59,150	Australia and New Zealand Banking Group		04/30/20		19
Total								$	(766	)
	$	11,201	CAD	15,685	Citibank N.A.		06/30/20	$	45
	$	3,952	CNY	28,000	Citibank N.A.		04/29/20		1
	$	689	CZK	17,012	Citibank N.A.		04/30/20		4
	$	6	EUR	5	Citibank N.A.		04/27/20		0	^
	$	1,346	EUR	1,236	Citibank N.A.		05/18/20		(19	)
	$	91,665	EUR	83,057	Citibank N.A.		06/30/20		(255	)
	$	18,588	GBP	15,358	Citibank N.A.		06/30/20		(517	)
	$	2,584	ILS	9,395	Citibank N.A.		06/30/20		(81	)
	$	1,511	JPY	160,915	Citibank N.A.		04/30/20		12
	$	7,270	KRW	8,892,416	Citibank N.A.		06/30/20		(51	)
	$	1,002	KRW	1,273,683	Citibank N.A.		06/30/20		(46	)
	$	4,206	NOK	43,869	Citibank N.A.		06/30/20		(15	)
	$	3,528	PLN	14,568	Citibank N.A.		04/30/20		7
	EUR	4	$	4	Citibank N.A.		04/01/20		0	^
	EUR	2,186	$	2,366	Citibank N.A.		06/30/20		52
	JPY	381,322	$	3,484	Citibank N.A.		04/30/20		70
	SEK	138	$	14	Citibank N.A.		06/30/20		0	^
Total								$	(793	)
	$	4,927	AUD	8,147	Morgan Stanley		06/30/20	$	(86	)
	$	991	EUR	900	Morgan Stanley		06/15/20		(4	)
	$	2,005	JPY	220,407	Morgan Stanley		04/30/20		(48	)
	$	989	KRW	1,241,716	Morgan Stanley		06/30/20		(34	)
	$	2,432	NZD	4,089	Morgan Stanley		06/30/20		(6	)
	EUR	11	$	12	Morgan Stanley		06/30/20		0	^
Total								$	(178	)
	$	5,151	EUR	4,645	Toronto Dominion Bank		04/27/20	$	22
	EUR	1,877	$	2,066	Toronto Dominion Bank		04/07/20		5
	$	341	ZAR	5,930	Toronto Dominion Bank		04/30/20		11
Total								$	38
Total								$	(1,699	)

^Amount represents less than $1,000.

381

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

	Abbreviations(s):
AUD	Australian Dollar
CAD	Canadian Dollar
CNY	Chinese Yuan
CZK	Czechoslovak Koruna
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

Centrally cleared credit default swap contracts outstanding as of March 31, 2020 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-NAHYS33V3-5 Year Index		5.000%	Credit event as specified in contract	Citigroup Global Markets, Inc	12/20/24		$14,700		$231		$460
CDX-NAHYS34V1-5 Year Index		5.000	Credit event as specified in contract	Citigroup Global Markets, Inc	06/20/25		15,000		232		301
Total									$463		$761

* 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-NAHYS33V3-5 Year Index

Credit event as specified in contract

5.000%

Citigroup Global Markets, Inc

12/20/24

$14,700

$(231

)

$(309

)

* 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.

382

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2020

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
GOVERNMENT BONDS -  97.7%
AGENCY SECURITIES - 0.9%
$	4,112,500		Crowley Conro LLC		4.181	%	08/15/43	$	5,173
	10,000,000		Federal Home Loan Mortgage Corp (FHLMC)		1.500		02/12/25		10,437
	17,310,000		Montefiore Medical Center		2.895		04/20/32		19,458
	3,000,000		Private Export Funding Corp (PEFCO)		3.250		06/15/25		3,410
	3,947,368		Reliance Industries Ltd		2.444		01/15/26		4,065
	3,500,000		Ukraine Government AID International Bonds		1.847		05/29/20		3,508
	15,000,000		Ukraine Government AID International Bonds		1.471		09/29/21		15,242
			TOTAL AGENCY SECURITIES						61,293
MORTGAGE BACKED - 1.1%
	22,924,721		Government National Mortgage Association (GNMA)		3.600		09/15/31		24,789
	11,337,983		GNMA		3.650		02/15/32		12,239
	2,459,800		GNMA		3.380		07/15/35		2,605
	3,162,783		GNMA		3.870		10/15/36		3,441
	27,572,247		GNMA		2.750		01/15/45		28,657
			TOTAL MORTGAGE BACKED						71,731
U.S. TREASURY SECURITIES - 95.7%
	40,020,012	k	United States Treasury Inflation Indexed Bonds		1.125		01/15/21		39,625
	162,317,486	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/21		159,021
	291,031,092	k	United States Treasury Inflation Indexed Bonds		0.625		07/15/21		288,285
	360,100,287	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/22		354,912
	280,533,990	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/22		276,554
	327,521,800	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/22		324,431
	334,126,520	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/23		330,039
	235,725,880	k	United States Treasury Inflation Indexed Bonds		0.625		04/15/23		237,526
	237,747,510	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/23		239,183
	153,936,698	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		156,487
	167,726,080	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		170,180
	139,590,835	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		139,907
	153,315,875	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/24		155,197
	177,510,260	k	United States Treasury Inflation Indexed Bonds		0.250		01/15/25		179,122
	269,930,584	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/25		299,389
	117,470,520	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/25		119,860
	159,575,850	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/26		164,890
	215,504,512	k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		239,799
	148,499,040	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/26		149,917
	224,774,005	k	United States Treasury Inflation Indexed Bonds		0.375		01/15/27		230,223
	123,044,610	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/27		142,694
	121,788,975	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/27		125,376
	214,891,350	k	United States Treasury Inflation Indexed Bonds		0.500		01/15/28		224,071
	212,264,052	k	United States Treasury Inflation Indexed Bonds		1.750		01/15/28		241,585
	113,268,539	k	United States Treasury Inflation Indexed Bonds		3.625		04/15/28		145,872
	131,530,240	k	United States Treasury Inflation Indexed Bonds		0.750		07/15/28		140,826
	213,499,770	k	United States Treasury Inflation Indexed Bonds		0.875		01/15/29		232,184
	141,643,881	k	United States Treasury Inflation Indexed Bonds		2.500		01/15/29		173,938
	204,115,113	k	United States Treasury Inflation Indexed Bonds		3.875		04/15/29		275,385

383

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	279,324,030	k	United States Treasury Inflation Indexed Bonds		0.250	%	07/15/29	$	290,314
	5,012,750	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/30		5,171
	51,587,890	k	United States Treasury Inflation Indexed Bonds		3.375		04/15/32		72,951
			TOTAL U.S. TREASURY SECURITIES						6,324,914
			TOTAL GOVERNMENT BONDS						6,457,938
			(Cost $6,180,549)
SHORT-TERM INVESTMENTS - 2.1%
GOVERNMENT AGENCY DEBT - 2.1%
	7,330,000		Federal Farm Credit Bank (FFCB)		0.100		04/23/20		7,330
	10,000,000		FFCB		0.080		05/06/20		9,999
	5,000,000		FFCB		0.100		11/20/20		4,995
	6,210,000		Federal Home Loan Bank (FHLB)		0.050 - 0.700		04/13/20		6,210
	5,000,000		FHLB		0.040		05/26/20		4,999
	8,205,000		FHLB		0.020 - 0.100		06/01/20		8,204
	8,273,000		FHLB		0.090		06/29/20		8,272
	10,930,000		FHLB		0.060 - 0.200		07/20/20		10,927
	49,882,000		FHLB		0.150 - 0.190		07/31/20		49,867
	4,000,000		FHLB		0.070		10/13/20		3,997
	5,000,000		FHLB		0.100		01/19/21		4,994
	5,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.010		08/03/20		4,998
	10,000,000		Federal National Mortgage Association (FNMA)		0.200		10/16/20		9,992
	1,894,000		Federal Agricultural Mortgage Corp		0.010		07/29/20		1,893
			TOTAL GOVERNMENT AGENCY DEBT						136,677
			TOTAL SHORT-TERM INVESTMENTS						136,677
			(Cost $136,665)
			TOTAL INVESTMENTS - 99.8%						6,594,615
			(Cost $6,317,214)
			OTHER ASSETS & LIABILITIES, NET - 0.2%						14,374
			NET ASSETS - 100.0%					$	6,608,989

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

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

March 31, 2020

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.1%
COMMERCIAL & PROFESSIONAL SERVICES - 0.0%
$	3,737,232	i	United Rentals North America, Inc	LIBOR 1 M + 1.750%		2.739	%	10/31/25	$	3,476
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							3,476
MATERIALS - 0.0%
	2,571,308	i	H.B. Fuller Co	LIBOR 1 M + 2.000%		2.773		10/21/24		2,216
			TOTAL MATERIALS							2,216
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	3,725,972	i	MTS Systems Corp	LIBOR 1 M + 3.250%		4.240		07/05/23		3,353
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							3,353
UTILITIES - 0.1%
	4,776,925	i	ExGen Renewables IV LLC	LIBOR 3 M + 3.000%		4.620		11/28/24		4,275
			TOTAL UTILITIES							4,275
			TOTAL BANK LOAN OBLIGATIONS							13,320
			(Cost $14,780)
BONDS - 39.8%
CORPORATE BONDS - 16.4%
AUTOMOBILES & COMPONENTS - 0.2%
	6,675,000		Aptiv plc			5.400		03/15/49		6,180
	8,000,000	g	Harley-Davidson Financial Services, Inc			4.050		02/04/22		7,820
	10,675,000	e	Magna International, Inc			3.625		06/15/24		11,108
			TOTAL AUTOMOBILES & COMPONENTS							25,108
BANKS - 3.2%
	21,650,000		Bank of America Corp			2.456		10/22/25		21,833
	16,500,000	i	Bank of Montreal	SOFR + 0.680%		0.818		03/10/23		15,077
	8,000,000	g	BNG Bank NV			3.125		11/08/21		8,332
	12,400,000	g	BNG Bank NV			2.625		02/27/24		13,242
	4,425,000	i	Canadian Imperial Bank of Commerce	SOFR + 0.800%		0.818		03/17/23		4,218
	17,250,000		Canadian Imperial Bank of Commerce			2.250		01/28/25		17,049
	3,800,000		Citizens Bank NA			3.750		02/18/26		3,876
	1,350,000		Citizens Financial Group, Inc			2.375		07/28/21		1,360
	13,000,000		Citizens Financial Group, Inc			2.850		07/27/26		12,679
	6,350,000		Citizens Financial Group, Inc			2.500		02/06/30		5,618
	11,538,000		Comerica, Inc			4.000		02/01/29		11,632
	7,025,000		Cooperatieve Rabobank UA			3.950		11/09/22		7,066
	4,950,000		Cooperatieve Rabobank UA			3.750		07/21/26		4,770
	9,400,000	e	Discover Bank			3.450		07/27/26		9,191
	6,825,000	e	Discover Bank			2.700		02/06/30		5,933

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	5,000,000	g	DNB Boligkreditt AS.			2.000	%	05/28/20	$	4,999
	8,400,000	g	HSBC Bank Canada			1.650		09/10/22		8,503
	14,376,000	g	ING Groep NV			4.625		01/06/26		15,152
	6,200,000	g	Intesa Sanpaolo S.p.A			6.500		02/24/21		6,283
	13,500,000	e,g	Intesa Sanpaolo S.p.A			3.250		09/23/24		12,587
	4,000,000	g	Intesa Sanpaolo S.p.A			5.710		01/15/26		3,898
	7,200,000	e,g	Intesa Sanpaolo S.p.A			4.000		09/23/29		6,566
	5,525,000	g	Intesa Sanpaolo S.p.A			4.700		09/23/49		4,751
	13,950,000		KeyCorp			2.250		04/06/27		13,177
	7,125,000	e	KeyCorp			4.100		04/30/28		7,505
	7,375,000		KeyCorp			2.550		10/01/29		6,647
	11,250,000	i	M&T Bank Corp	LIBOR 3 M + 0.680%		2.474		07/26/23		10,297
	9,076,000	i	Manufacturers & Traders Trust Co			2.220		12/01/21		8,817
	285,000		Manufacturers & Traders Trust Co			2.900		02/06/25		293
	3,425,000	e	Manufacturers & Traders Trust Co			3.400		08/17/27		3,538
	16,925,000		Mitsubishi UFJ Financial Group, Inc			2.527		09/13/23		16,778
	13,725,000	i	Mizuho Financial Group, Inc	LIBOR 3 M + 0.630%		2.309		05/25/24		12,468
	16,100,000	g	National Bank of Canada			2.150		10/07/22		15,952
	10,250,000		People’s United Bank NA			4.000		07/15/24		10,359
	24,878,000		People’s United Financial, Inc			3.650		12/06/22		25,536
	6,950,000	i	PNC Bank NA	LIBOR 3 M + 0.430%		1.429		12/09/22		6,562
	8,245,000	e	PNC Bank NA			2.950		01/30/23		8,468
	6,600,000	i	Regions Bank	LIBOR 3 M + 0.500%		2.207		08/13/21		6,423
	10,000,000		Regions Financial Corp			2.750		08/14/22		9,888
	17,785,000		SVB Financial Group			3.500		01/29/25		17,916
	13,000,000	i	Toronto-Dominion Bank	LIBOR 3 M + 0.300%		2.070		07/30/21		12,667
	13,675,000	e	Truist Bank			2.150		12/06/24		13,546
	4,375,000		Truist Bank			2.250		03/11/30		4,012
	7,000,000	e	Truist Financial Corp			3.875		03/19/29		7,100
	4,350,000		Zions Bancorp NA			3.500		08/27/21		4,345
	4,400,000		Zions Bancorp NA			3.350		03/04/22		4,314
			TOTAL BANKS							431,223
CAPITAL GOODS - 0.4%
	475,000		Anixter, Inc			5.125		10/01/21		478
	6,250,000		CNH Industrial Capital LLC			3.875		10/15/21		6,216
	4,800,000		CNH Industrial Capital LLC			4.200		01/15/24		4,690
	4,000,000		Ingersoll-Rand Luxembourg Finance S.A.			3.550		11/01/24		4,140
	3,175,000		Ingersoll-Rand Luxembourg Finance S.A.			3.500		03/21/26		3,176
	8,975,000		Ingersoll-Rand Luxembourg Finance S.A.			3.800		03/21/29		9,074
	10,000,000	g	NBM US Holdings, Inc			6.625		08/06/29		9,000
	1,475,000		Oshkosh Corp			3.100		03/01/30		1,429
	3,700,000		Parker-Hannifin Corp			3.250		06/14/29		3,734
	5,625,000		Parker-Hannifin Corp			4.200		11/21/34		5,842
			TOTAL CAPITAL GOODS							47,779
COMMERCIAL & PROFESSIONAL SERVICES - 0.2%
	7,500,000		Visa, Inc			1.900		04/15/27		7,479
	8,250,000		Visa, Inc			2.050		04/15/30		8,238
	3,475,000		Waste Management, Inc			3.900		03/01/35		3,970
	4,550,000	e	Waste Management, Inc			4.000		07/15/39		4,943
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							24,630

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
CONSUMER SERVICES - 0.9%
$	3,125,000		Conservation Fund		3.474	%	12/15/29	$	3,494
	10,000,000		Henry J Kaiser Family Foundation		3.356		12/01/25		11,163
	3,440,000	i	Nature Conservancy		2.843		02/01/24		3,444
	17,500,000		New York Public Library Astor Lenox & Tilden Foundations		4.305		07/01/45		23,356
	4,615,000		Salvation Army		5.637		09/01/26		5,382
	20,000,000		Salvation Army		4.528		09/01/48		21,460
	12,300,000		Starbucks Corp		2.450		06/15/26		12,323
	16,500,000	e	Starbucks Corp		4.450		08/15/49		18,857
	11,440,000		Wisconsin Alumni Research Foundation		3.564		10/01/49		11,944
	11,065,000		YMCA of Greater New York		5.151		08/01/48		14,593
			TOTAL CONSUMER SERVICES						126,016
DIVERSIFIED FINANCIALS - 1.7%
	2,960,000		Ally Financial, Inc		3.875		05/21/24		2,664
	10,000,000		AXA Equitable Holdings, Inc		4.350		04/20/28		9,731
	11,500,000		Century Housing Corp		3.995		11/01/21		12,041
	9,220,000		Community Preservation Corp		2.867		02/01/30		9,961
	2,169,000		Discover Financial Services		3.850		11/21/22		2,213
	9,500,000	g	EDP Finance BV		5.250		01/14/21		9,769
	11,625,000	g	EDP Finance BV		3.625		07/15/24		11,675
	4,750,000		Enterprise Community Loan Fund, Inc		4.152		11/01/28		5,024
	8,680,000	g	Federation des Caisses Desjardins du Quebec		1.950		09/26/22		8,693
	9,500,000		Ford Foundation		3.859		06/01/47		11,025
	2,300,000		Legg Mason, Inc		3.950		07/15/24		2,283
	680,000		Reinvestment Fund, Inc		3.377		02/15/22		708
	1,457,000		Reinvestment Fund, Inc		3.166		11/01/23		1,527
	3,000,000		Reinvestment Fund, Inc		3.600		02/15/24		3,223
	10,250,000		Reinvestment Fund, Inc		3.366		11/01/24		11,018
	2,570,000		Reinvestment Fund, Inc		3.513		11/01/25		2,804
	15,240,000		Reinvestment Fund, Inc		3.880		02/15/27		16,806
	10,435,000		Reinvestment Fund, Inc		3.930		02/15/28		11,680
	12,500,000		State Street Corp		2.354		11/01/25		12,372
	5,300,000	g	Swiss Re Finance Luxembourg SA		5.000		04/02/49		5,376
	14,675,000		Toyota Motor Credit Corp		2.900		03/30/23		14,767
	12,525,000		Toyota Motor Credit Corp		3.000		04/01/25		12,584
	12,475,000		Toyota Motor Credit Corp		2.150		02/13/30		11,583
	10,200,000		Toyota Motor Credit Corp		3.375		04/01/30		10,319
	11,075,000	e	Unilever Capital Corp		2.000		07/28/26		11,049
	3,110,000	e	Unilever Capital Corp		2.125		09/06/29		3,175
	1,925,000	g	WLB Asset II Pte Ltd		4.000		01/14/24		1,956
			TOTAL DIVERSIFIED FINANCIALS						216,026
ENERGY - 1.2%
	6,717,256	g	Continental Wind LLC		6.000		02/28/33		7,054
	9,625,000		Enbridge, Inc		2.500		01/15/25		8,950
	12,500,000		Enbridge, Inc		3.125		11/15/29		11,552
	4,450,000	e	EOG Resources, Inc		5.100		01/15/36		4,183
	8,025,000		EQT Corp		7.000		02/01/30		5,979
	9,500,000		Equinor ASA		3.150		01/23/22		9,698
	4,500,000	e	Equinor ASA		2.650		01/15/24		4,573
	5,932,000		Equinor ASA		3.950		05/15/43		6,141
	8,100,000	e	Equinor ASA		3.250		11/18/49		7,976
	6,850,000	g	Greenko Dutch BV		4.875		07/24/22		6,019

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	12,850,000	e	Noble Energy, Inc		3.900	%	11/15/24	$	10,600
	3,290,000		Noble Energy, Inc		5.050		11/15/44		2,032
	3,875,000		ONEOK, Inc		4.000		07/13/27		3,190
	6,200,000		ONEOK, Inc		4.950		07/13/47		4,905
	9,000,000		Phillips 66		4.650		11/15/34		8,383
	18,000,000	g	TerraForm Power Operating LLC		5.000		01/31/28		18,860
	7,150,000		Total Capital International S.A.		2.829		01/10/30		7,240
	8,750,000		Total Capital S.A.		4.450		06/24/20		8,747
	10,050,000	g	Woodside Finance Ltd		3.700		03/15/28		9,660
			TOTAL ENERGY						145,742
FOOD, BEVERAGE & TOBACCO - 0.1%
	9,200,000		Coca-Cola Co		1.750		09/06/24		9,366
	3,900,000		JM Smucker Co		2.375		03/15/30		3,595
	2,250,000		PepsiCo, Inc		2.875		10/15/49		2,335
			TOTAL FOOD, BEVERAGE & TOBACCO						15,296
HEALTH CARE EQUIPMENT & SERVICES - 0.2%
	7,500,000	i	Becton Dickinson & Co		2.031		06/06/22		7,015
	2,750,000		Becton Dickinson & Co		3.363		06/06/24		2,756
	3,518,000		Becton Dickinson & Co		4.685		12/15/44		3,701
	3,200,000		HCA, Inc		5.125		06/15/39		3,305
	9,000,000		Laboratory Corp of America Holdings		3.200		02/01/22		9,073
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						25,850
HOUSEHOLD & PERSONAL PRODUCTS - 0.2%
	4,525,000		Estee Lauder Cos, Inc		3.125		12/01/49		4,395
	7,125,000		Kimberly-Clark Corp		2.875		02/07/50		6,916
	1,700,000	e	Procter & Gamble Co		2.450		03/25/25		1,782
	5,300,000		Procter & Gamble Co		3.000		03/25/30		5,883
	3,350,000		Procter & Gamble Co		3.550		03/25/40		3,907
	3,150,000		Procter & Gamble Co		3.600		03/25/50		3,885
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						26,768
INSURANCE - 0.5%
	5,350,000	g	AIA Group Ltd		3.375		04/07/30		5,393
	15,000,000		Prudential Financial, Inc		5.200		03/15/44		13,148
	7,450,000		Prudential Financial, Inc		5.375		05/15/45		7,112
	18,222,000	g	Swiss Re Treasury US Corp		2.875		12/06/22		19,019
	14,024,000	g	Swiss Re Treasury US Corp		4.250		12/06/42		16,846
			TOTAL INSURANCE						61,518
MATERIALS - 1.0%
	7,564,000		3M Co		2.000		02/14/25		7,785
	4,875,000		3M Co		3.125		09/19/46		4,430
	10,625,000	g	Air Liquide Finance S.A.		2.250		09/10/29		9,805
	7,250,000	e,g	Celulosa Arauco y Constitucion S.A.		4.200		01/29/30		6,217
	10,000,000	g	Celulosa Arauco y Constitucion S.A.		5.150		01/29/50		7,870
	4,800,000		Commercial Metals Co		5.750		04/15/26		4,480
	14,900,000	e	Fibria Overseas Finance Ltd		5.500		01/17/27		14,337
	5,000,000		International Paper Co		6.000		11/15/41		6,435
	4,600,000		International Paper Co		4.800		06/15/44		4,564
	17,000,000	g	Inversiones CMPC S.A.		4.375		04/04/27		15,853

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	13,500,000	g	Klabin Austria GmbH			7.000	%	04/03/49	$	12,352
	8,125,000	g	Klabin Finance S.A.			4.875		09/19/27		7,429
EUR	2,500,000	g	LG Chem Ltd			0.500		04/15/23		2,626
$	10,000,000	g	LG Chem Ltd			3.625		04/15/29		9,862
	5,000,000		Newmont Corp			2.250		10/01/30		4,605
	2,500,000	g	Sealed Air Corp			5.500		09/15/25		2,531
			TOTAL MATERIALS							121,181
MEDIA & ENTERTAINMENT - 0.0%
	3,625,000		Discovery Communications LLC			5.000		09/20/37		3,589
			TOTAL MEDIA & ENTERTAINMENT							3,589
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.4%
	7,000,000		AbbVie, Inc			2.500		05/14/20		7,001
	14,500,000	g,i	AbbVie, Inc	LIBOR 3 M + 0.650%		2.346		11/21/22		13,565
	1,875,000		Biogen, Inc			2.900		09/15/20		1,880
	2,000,000	g	Bristol-Myers Squibb Co			2.875		08/15/20		2,007
	4,275,000	g,i	Bristol-Myers Squibb Co	LIBOR 3 M + 0.380%		2.072		05/16/22		4,171
	4,000,000	i	GlaxoSmithKline Capital plc	LIBOR 3 M + 0.350%		2.054		05/14/21		3,843
	8,650,000	e	GlaxoSmithKline Capital, Inc			3.625		05/15/25		9,322
	6,500,000	e	Merck & Co, Inc			3.900		03/07/39		7,669
	7,200,000	i	Zoetis, Inc	LIBOR 3 M + 0.440%		2.135		08/20/21		6,607
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							56,065
REAL ESTATE - 0.6%
	8,500,000		Alexandria Real Estate Equities, Inc			4.000		01/15/24		8,684
	1,975,000		Brandywine Operating Partnership LP			3.950		02/15/23		2,040
	4,300,000		Brandywine Operating Partnership LP			3.950		11/15/27		4,034
	8,775,000		Brixmor Operating Partnership LP			3.900		03/15/27		8,735
	4,888,000		Digital Realty Trust LP			3.950		07/01/22		5,002
	3,500,000		Federal Realty Investment Trust			2.750		06/01/23		3,481
	9,925,000	g	HAT Holdings I LLC			5.250		07/15/24		9,528
	3,750,000		Host Hotels & Resorts LP			3.375		12/15/29		3,162
	11,075,000		Kilroy Realty LP			3.450		12/15/24		10,869
	6,700,000		Kilroy Realty LP			4.750		12/15/28		6,986
	16,822,000		Regency Centers LP			3.750		06/15/24		17,627
			TOTAL REAL ESTATE							80,148
RETAILING - 0.1%
	3,150,000		Lowe’s Cos, Inc			5.000		04/15/40		3,565
	10,774,000		Lowe’s Cos, Inc			4.250		09/15/44		10,178
			TOTAL RETAILING							13,743
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	14,250,000	e	Apple, Inc			3.000		06/20/27		15,418
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							15,418
TRANSPORTATION - 0.9%
	6,975,000		Canadian Pacific Railway Co			2.050		03/05/30		6,477
	2,050,000		CSX Corp			2.400		02/15/30		2,019
	6,775,000		CSX Corp			4.250		11/01/66		6,763
	1,749,389		Delta Air Lines, Inc			4.250		07/30/23		1,604
	7,150,000		Delta Air Lines, Inc			3.204		04/25/24		6,980

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	18,650,000		Delta Air Lines, Inc		2.900	%	10/28/24	$	14,927
	4,768,848		Delta Air Lines, Inc		3.625		07/30/27		4,334
	11,850,000		Delta Air Lines, Inc		2.000		06/10/28		10,781
	13,800,000		Delta Air Lines, Inc		2.500		06/10/28		12,509
	10,000,000		Delta Air Lines, Inc		3.750		10/28/29		8,059
	7,000,000		Kansas City Southern		4.300		05/15/43		7,072
	15,925,000		Kansas City Southern		4.950		08/15/45		16,564
	475,000		Norfolk Southern Corp		5.590		05/17/25		527
	8,175,000		Southwest Airlines Co		2.625		02/10/30		6,860
	4,620,254		Union Pacific Railroad Co		3.227		05/14/26		4,729
	7,850,203		Union Pacific Railroad Co		2.695		05/12/27		8,248
	1,360,000		United Parcel Service of America, Inc (Step Bond)		8.375		04/01/30		1,864
			TOTAL TRANSPORTATION						120,317
UTILITIES - 4.5%
	14,500,000	g	AES Gener S.A.		6.350		10/07/79		11,020
	8,280,000		Arizona Public Service Co		3.750		05/15/46		8,707
	13,155,000		Avangrid, Inc		3.150		12/01/24		13,086
	15,700,000		Avangrid, Inc		3.800		06/01/29		16,070
	15,275,000		Avista Corp		4.350		06/01/48		16,353
	700,000	g	Azure Power Energy Ltd		5.500		11/03/22		639
	5,900,000	g	Azure Power Solar Energy Pvt Ltd		5.650		12/24/24		5,013
	16,500,000	g	Brooklyn Union Gas Co		4.273		03/15/48		17,010
	13,500,000	g	Brooklyn Union Gas Co		4.487		03/04/49		14,333
	3,000,000		Clearway Energy Operating LLC		5.750		10/15/25		2,970
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,480
	7,525,000	g	Consorcio Transmantaro SA		4.700		04/16/34		7,045
	4,200,000		Consumers Energy Co		3.500		08/01/51		4,518
	8,850,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		8,599
	7,000,000		Dominion Energy, Inc		3.300		03/15/25		7,097
	9,050,000		Dominion Energy, Inc		3.600		03/15/27		9,230
	4,850,000		Dominion Energy, Inc (Step Bond)		3.071		08/15/24		4,847
	13,787,000		DTE Electric Co		3.950		03/01/49		15,043
	10,750,000		Duke Energy Florida LLC		2.500		12/01/29		10,565
	22,500,000	g	Electricite de France S.A.		3.625		10/13/25		23,159
	3,850,000		Exelon Corp		4.050		04/15/30		3,813
	2,750,000		Exelon Corp		4.700		04/15/50		2,873
	2,050,000		Florida Power & Light Co		2.850		04/01/25		2,156
	6,656,000	e	Fortis, Inc		3.055		10/04/26		6,376
	9,885,000	e	Georgia Power Co		3.250		04/01/26		10,262
	16,000,000	g	Hanwha Energy USA Holdings Corp		2.375		07/30/22		15,914
	2,745,000		International Transmission Co		4.625		08/15/43		2,759
	6,575,000		Interstate Power & Light Co		3.250		12/01/24		6,649
	3,000,000		Interstate Power & Light Co		4.100		09/26/28		3,361
	24,325,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		25,906
	4,000,000		MidAmerican Energy Co		3.100		05/01/27		4,114
	2,375,000	e	MidAmerican Energy Co		3.650		04/15/29		2,594
	4,250,000		MidAmerican Energy Co		3.150		04/15/50		4,309
	4,300,000	g	Narragansett Electric Co		3.919		08/01/28		4,497
	9,250,000	g	Narragansett Electric Co		4.170		12/10/42		9,055
	3,225,000	g	NextEra Energy Operating Partners LP		4.250		07/15/24		3,144
	2,050,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		1,999
	3,875,000	g	NextEra Energy Operating Partners LP		4.500		09/15/27		3,778
	9,732,000	g	Niagara Mohawk Power Corp		4.278		10/01/34		10,357

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	9,750,000	e,g	Niagara Mohawk Power Corp			4.119	%	11/28/42	$	9,651
	9,350,000		NorthWestern Corp			4.176		11/15/44		10,276
	5,425,000		Oklahoma Gas & Electric Co			3.250		04/01/30		5,437
	1,400,000		ONE Gas, Inc			4.500		11/01/48		1,642
	18,900,000	g	Pattern Energy Group, Inc			5.875		02/01/24		18,762
	13,050,000		PSEG Power LLC			3.850		06/01/23		13,274
	630,000	e	Public Service Co of Colorado			4.750		08/15/41		753
	7,625,000		Public Service Co of Colorado			4.100		06/15/48		8,303
	14,975,000		Public Service Co of Colorado			3.200		03/01/50		15,153
	2,975,000		Public Service Co of New Hampshire			3.600		07/01/49		3,052
	3,450,000		Public Service Electric & Gas Co			3.200		08/01/49		3,447
	5,500,000		San Diego Gas & Electric Co			3.000		08/15/21		5,541
	3,821,505		San Diego Gas & Electric Co			1.914		02/01/22		3,838
	23,534,335	g	Solar Star Funding LLC			3.950		06/30/35		23,866
	22,448,139	g	Solar Star Funding LLC			5.375		06/30/35		24,792
	2,000,000		Southern California Edison Co			2.400		02/01/22		1,948
	6,000,000		Southern California Edison Co			3.400		06/01/23		6,148
	4,700,000		Southern California Edison Co			4.125		03/01/48		5,018
	12,550,000		Southern Power Co			2.500		12/15/21		12,362
	25,000,000		Southern Power Co			4.150		12/01/25		25,779
	14,000,000		Southwestern Public Service Co			3.750		06/15/49		14,684
	28,612,000	g	Star Energy Geothermal Wayang Windu Ltd			6.750		04/24/33		25,770
	20,949,887	g	Topaz Solar Farms LLC			4.875		09/30/39		21,577
	11,372,031	g	Topaz Solar Farms LLC			5.750		09/30/39		12,519
	19,650,000	e	Westar Energy, Inc			2.550		07/01/26		20,391
			TOTAL UTILITIES							615,683
			TOTAL CORPORATE BONDS							2,172,100
			(Cost $2,174,839)
GOVERNMENT BONDS - 19.5%
AGENCY SECURITIES - 2.7%
	4,545,000		Canal Barge Co, Inc			4.500		11/12/34		5,466
	3,421,311		CES MU2 LLC			1.994		05/13/27		3,499
	1,445,610		DY7 Leasing LLC			2.578		12/10/25		1,492
	3,526,974		DY9 Leasing LLC			2.415		06/30/27		3,612
	8,188,111		Ethiopian Leasing LLC			2.566		08/14/26		8,481
	2,313,166		Export Lease Ten Co LLC			1.650		05/07/25		2,329
	2,137,950		Export Leasing LLC			1.859		08/28/21		2,147
	5,000,000	j	Government Trust Certificate			0.000		04/01/21		4,943
	5,950,000		Hashemite Kingdom of Jordan Government AID International Bond			3.000		06/30/25		6,502
	3,450,000	g	Hospital for Special Surgery			3.500		01/01/23		3,561
	5,250,000	i	India Government AID Bond	LIBOR 3 M + 0.100%		1.863		02/01/27		4,867
	3,795,000		Lutheran Medical Center			1.982		02/20/30		3,800
	5,250,000		Mexican Aircraft Finance V LLC			2.329		01/14/27		5,430
	4,460,000		Montefiore Medical Center			2.152		10/20/26		4,668
	2,705,000	g	Montefiore Medical Center			3.896		05/20/27		2,795
	18,365,000		Montefiore Medical Center			2.895		04/20/32		20,644
	7,000,000		NCUA Guaranteed Notes			3.450		06/12/21		7,093
	14,570,000		New York Society for the Relief of the Ruptured & Crippled			2.881		12/20/31		15,060
	2,649,229	j	Overseas Private Investment Corp (OPIC)			0.000		07/17/21		2,836

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	2,621,907		OPIC			2.290	%	09/15/26	$	2,720
	1,330,580		OPIC			2.040		12/15/26		1,369
	8,871,175		OPIC			2.740		09/15/29		9,592
	13,647,961		OPIC			3.220		09/15/29		15,096
	12,283,165		OPIC			3.280		09/15/29		13,624
	6,000,000		OPIC			1.790		10/15/29		6,266
	18,750,000		OPIC			2.360		10/15/29		19,945
	2,338,995		OPIC			2.610		04/15/30		2,508
	3,249,000		OPIC			2.930		05/15/30		3,556
	5,369,400		OPIC			3.040		05/15/30		5,910
	6,029,500		OPIC			3.540		06/15/30		6,789
	15,723,877		OPIC			3.370		12/15/30		17,565
	6,919,643		OPIC			3.520		09/20/32		7,911
	18,755,678		OPIC			3.820		12/20/32		21,870
	12,100,438		OPIC			3.938		12/20/32		14,206
	10,993,427		OPIC			3.160		06/01/33		12,422
	10,553,690		OPIC			3.430		06/01/33		12,142
	1,062,239		OPIC			2.810		07/31/33		1,165
	1,699,582		OPIC			2.940		07/31/33		1,879
	5,400,000		OPIC			2.450		07/15/38		5,904
	3,426,189		Penta Aircraft Leasing LLC			1.691		04/29/25		3,453
	2,727,269	i	Pluto Aircraft Leasing LLC	LIBOR 3 M + 0.210%		1.952		02/07/23		2,720
	1,000,000	g	Private Export Funding Corp (PEFCO)			3.266		11/08/21		1,032
	4,250,000		PEFCO			2.050		11/15/22		4,383
	4,000,000		PEFCO			3.550		01/15/24		4,446
	3,950,000		PEFCO			1.750		11/15/24		4,117
	8,000,000		PEFCO			3.250		06/15/25		9,092
	2,717,757		Safina Ltd			1.550		01/15/22		2,724
	5,606,147		Sandalwood LLC			2.836		07/10/25		5,829
	940,370		Tayarra Ltd			3.628		02/15/22		961
	861,134		Tricahue Leasing LLC			3.503		11/19/21		878
	6,195,654		Ulani MSN 37894			2.184		12/20/24		6,321
	2,211,286		Union 16 Leasing LLC			1.863		01/22/25		2,239
	6,715,000		UNM Sandoval Regional Medical Center			4.500		07/20/36		6,831
	2,388,000		US Department of Housing and Urban Development (HUD)			4.960		08/01/20		2,430
	2,080,000		HUD			5.050		08/01/21		2,114
	3,217,000		HUD			2.910		08/01/23		3,319
	5,000,000		HUD			3.535		08/01/36		5,831
			TOTAL AGENCY SECURITIES							360,384
FOREIGN GOVERNMENT BONDS - 4.2%
	4,000,000		African Development Bank			3.000		12/06/21		4,154
	12,750,000	h	African Development Bank			0.750		04/03/23		12,749
	9,500,000		Asian Development Bank			2.125		03/19/25		10,124
	6,500,000		Asian Development Bank			1.750		08/14/26		6,862
	14,000,000		Asian Development Bank			3.125		09/26/28		16,399
	4,011,655	g	Carpintero Finance Ltd			2.004		09/18/24		4,077
EUR	4,000,000		Chile Government International Bond			0.830		07/02/31		3,949
$	9,000,000		Chile Government International Bond			3.500		01/25/50		9,315
	5,000,000	g	CPPIB Capital, Inc			2.750		11/02/27		5,603
	11,000,000		European Bank for Reconstruction & Development			1.875		07/15/21		11,160
	19,500,000		European Bank for Reconstruction & Development			1.625		09/27/24		20,366
	3,750,000	e	European Investment Bank			2.375		05/24/27		4,135

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	6,462,500		European Investment Bank			1.625	%	10/09/29	$	6,746
	2,000,000	e	European Investment Bank			4.875		02/15/36		2,977
	12,500,000	g	Finnvera Oyj			2.375		06/04/25		13,511
	6,082,000		Hydro Quebec			8.400		01/15/22		6,883
	20,000,000	i	Inter-American Development Bank	LIBOR 3 M + 0.010%		1.841		01/15/22		19,995
	19,250,000		International Bank for Reconstruction & Development			3.125		11/20/25		21,738
	27,150,000	e,g	International Development Association			2.750		04/24/23		29,040
	46,500,000		International Finance Corp			1.546		11/04/21		47,045
	7,375,000		International Finance Corp			0.500		03/20/23		7,342
	33,500,000		International Finance Corp			2.125		04/07/26		35,932
	5,000,000		Japan Bank for International Cooperation			1.875		04/20/21		5,054
	9,000,000	g	Japan Finance Organization for Municipalities			2.125		04/13/21		9,123
	12,500,000	g	Kommunalbanken AS.			2.125		02/11/25		13,311
	9,500,000	i	Korea Development Bank International Bond	LIBOR 3 M + 0.725%		2.625		07/06/22		9,444
	5,750,000		Kreditanstalt fuer Wiederaufbau			2.000		11/30/21		5,892
	10,000,000		Kreditanstalt fuer Wiederaufbau			1.750		09/14/29		10,645
	3,000,000	g	Nacional Financiera SNC			3.375		11/05/20		2,919
	15,000,000	g	Nederlandse Waterschapsbank NV			3.125		12/05/22		15,978
	18,250,000	g	Nederlandse Waterschapsbank NV			1.750		01/15/25		19,113
	19,000,000	g	Nederlandse Waterschapsbank NV			2.375		03/24/26		20,715
	5,267,000		North American Development Bank			2.400		10/26/22		5,346
	13,000,000	g	OMERS Finance Trust			2.500		05/02/24		13,903
	12,500,000	e,g	Ontario Teachers’ Finance Trust			1.625		09/12/24		12,885
	22,800,000	e,g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		22,708
	10,500,000	g	Perusahaan Penerbit SBSN Indonesia III			3.900		08/20/24		10,577
	12,700,000		Province of Manitoba Canada			3.050		05/14/24		13,838
	9,430,000		Province of Ontario Canada			1.750		01/24/23		9,666
	12,500,000	e	Province of Ontario Canada			3.050		01/29/24		13,640
	10,000,000		Province of Quebec Canada			2.750		04/12/27		11,091
	5,000,000		Province of Quebec Canada			7.500		09/15/29		7,568
	10,000,000		Republic of Italy Government International Bond			2.875		10/17/29		9,507
	7,750,000		Republic of Italy Government International Bond			4.000		10/17/49		7,254
			TOTAL FOREIGN GOVERNMENT BONDS							550,279
MORTGAGE BACKED - 4.8%
	2,600,000		Federal Home Loan Mortgage Corp (FHLMC)			3.000		10/15/33		2,899
	8,075,893		FHLMC			3.500		08/15/43		8,598
	2,601,770	i	FHLMC			5.215		03/15/44		508
	7,293,926		FHLMC			4.000		10/01/47		7,938
	7,809,895	i	FHLMC			8.793		06/15/48		9,351
	6,050,130	i	FHLMC			8.713		10/15/48		7,627
	1,367		Federal Home Loan Mortgage Corp Gold (FGLMC)			7.000		10/01/20		1
	1,516		FGLMC			7.000		05/01/23		2
	11,485		FGLMC			8.000		01/01/31		12
	200,968		FGLMC			4.500		07/01/33		220
	1,370,861		FGLMC			7.000		12/01/33		1,618
	437,662		FGLMC			7.000		05/01/35		517
	984,926		FGLMC			5.000		06/01/36		1,096
	312,646		FGLMC			5.000		07/01/39		347
	533,928		FGLMC			4.500		10/01/44		593
	572,733		FGLMC			4.500		11/01/44		637
	864,594		FGLMC			4.500		11/01/44		960
	529,826		FGLMC			4.500		12/01/44		588
	370,962		FGLMC			4.500		12/01/44		406

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,015,145		FGLMC		3.500	%	04/01/45	$	2,165
	18,945,057		FGLMC		3.500		10/01/45		20,327
	8,813,449		FGLMC		4.000		12/01/45		9,614
	29,275,780		FGLMC		3.500		08/01/46		31,412
	13,568,781		FGLMC		3.000		02/01/47		14,312
	954,113		FGLMC		4.500		06/01/47		1,060
	2,367,352		FGLMC		4.000		09/01/47		2,598
	1,841,274		FGLMC		3.500		12/01/47		1,976
	7,715,425		FGLMC		3.500		03/01/48		8,277
	12,255,372		FGLMC		4.000		03/01/48		13,337
	3,036,388		FGLMC		4.000		07/01/48		3,304
	9,186,000		FGLMC		4.500		08/01/48		10,063
	9,996		Federal National Mortgage Association (FNMA)		8.000		07/01/24		11
	18,500,000	i	FNMA		2.801		02/25/27		20,089
	3,500,000	i	FNMA		3.325		06/25/28		4,019
	2,632,969		FNMA		3.500		05/01/32		2,780
	2,576,831		FNMA		5.000		05/01/35		2,863
	1,642,919		FNMA		5.000		10/01/35		1,829
	1,258,065		FNMA		5.000		02/01/36		1,401
	1,734,579		FNMA		5.500		11/01/38		1,967
	1,327,181		FNMA		5.000		09/01/40		1,471
	2,251,484		FNMA		5.000		05/01/41		2,498
	1,376,837		FNMA		4.000		09/01/42		1,510
	2,131,758		FNMA		3.000		04/25/43		2,265
	3,695,408	i	FNMA		5.003		09/25/43		776
	757,600		FNMA		4.000		01/01/44		825
	1,818,226		FNMA		4.500		03/01/44		2,044
	715,129		FNMA		4.500		06/01/44		795
	7,404,322		FNMA		4.500		06/01/44		8,230
	1,724,658		FNMA		4.500		08/01/44		1,916
	4,210,082		FNMA		4.500		10/01/44		4,679
	8,410,372		FNMA		4.500		11/01/44		9,338
	1,701,360		FNMA		5.000		11/01/44		1,886
	1,928,849		FNMA		4.500		12/01/44		2,144
	689,213		FNMA		4.000		01/01/45		757
	9,501,708		FNMA		3.000		02/25/45		10,005
	2,885,842		FNMA		3.000		02/25/45		3,029
	184,334		FNMA		3.500		03/01/45		198
	269,752		FNMA		3.500		03/01/45		290
	450,054		FNMA		4.500		03/01/45		500
	2,892,513		FNMA		3.000		03/25/45		3,072
	530,126		FNMA		4.500		04/01/45		589
	7,919,165		FNMA		3.500		04/25/45		8,333
	4,087,167		FNMA		3.500		05/01/45		4,399
	2,229,956		FNMA		4.000		12/01/45		2,426
	21,034,984		FNMA		3.000		12/25/45		22,458
	6,364,824		FNMA		3.500		01/01/46		6,827
	7,767,416		FNMA		4.000		01/01/46		8,455
	8,002,352		FNMA		3.500		06/01/46		8,584
	4,616,735		FNMA		3.500		07/01/46		4,952
	7,410,316		FNMA		3.500		07/01/46		7,955
	1,692,055		FNMA		3.000		10/01/46		1,757
	5,869,222		FNMA		3.500		10/01/46		6,296
	8,334,086		FNMA		3.000		11/01/46		8,793

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,676,892		FNMA		3.500	%	12/01/46	$	6,026
	17,597,432		FNMA		3.500		01/01/47		18,653
	2,355,634		FNMA		3.000		04/25/47		2,510
	2,917,844		FNMA		4.500		05/01/47		3,193
	988,620		FNMA		3.500		08/01/47		1,053
	2,203,364		FNMA		3.500		09/01/47		2,344
	1,340,458		FNMA		3.000		11/01/47		1,391
	481,145		FNMA		3.500		11/01/47		518
	5,728,853		FNMA		4.000		12/01/47		6,235
	1,014,062		FNMA		3.500		01/01/48		1,091
	5,102,452		FNMA		4.500		01/01/48		5,590
	4,032,252		FNMA		4.500		02/01/48		4,416
	48,473,113		FNMA		3.000		02/25/48		51,286
	5,110,478		FNMA		4.000		03/01/48		5,560
	17,562,131		FNMA		4.500		03/01/48		19,232
	1,544,496		FNMA		3.500		04/01/48		1,632
	30,098,303		FNMA		4.000		04/01/48		32,268
	3,571,953		FNMA		4.500		05/01/48		3,912
	2,732,816		FNMA		4.500		05/01/48		2,993
	598,119		FNMA		5.000		06/01/48		646
	6,622,315		FNMA		5.000		08/01/48		7,340
	4,435,442		FNMA		3.000		11/25/48		454
	17,000,000	h	FNMA		3.000		04/25/49		17,827
	11,000,000	h	FNMA		3.500		04/25/49		11,636
	812,614		FNMA		3.000		08/01/49		861
	4,029,698		Government National Mortgage Association (GNMA)		2.580		08/15/25		4,118
	9,977,386		GNMA		2.690		06/15/33		10,298
	8,140,760		GNMA		3.700		10/15/33		8,761
	147,170		GNMA		5.000		04/15/38		164
	209,592		GNMA		6.500		11/20/38		249
	22,534		GNMA		4.500		02/20/39		26
	7,826,046		GNMA		3.700		08/15/40		8,250
	30,349		GNMA		4.500		08/20/41		34
	106,644		GNMA		4.500		09/20/41		123
	22,505		GNMA		4.500		01/20/44		26
	21,172		GNMA		4.500		02/20/44		24
	48,130		GNMA		4.500		05/20/44		55
	305,720		GNMA		4.500		05/20/44		352
	346,309		GNMA		4.500		08/20/44		398
	224,247		GNMA		4.500		09/20/44		258
	133,829		GNMA		4.500		10/20/44		152
	52,774		GNMA		4.500		11/20/44		57
	220,067		GNMA		4.500		12/20/44		253
	12,442,882		GNMA		2.750		01/15/45		12,932
	294,484		GNMA		4.500		02/20/45		331
	337,378		GNMA		4.500		08/20/45		389
	345,163		GNMA		4.500		08/20/45		397
	319,311		GNMA		4.500		12/20/45		362
	4,212,789	†	GNMA		4.000		06/20/46		502
	4,380,179		GNMA		3.000		12/20/47		4,671
	16,717,176		GNMA		3.500		12/20/47		17,654
	6,294,266		GNMA		3.500		01/20/48		6,676
	7,337,273		GNMA		3.500		01/20/49		8,008
			TOTAL MORTGAGE BACKED						641,561

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
MUNICIPAL BONDS - 4.5%
$	3,340,000		Antelope Valley-East Kern Water Agency Financing Authority			4.326	%	06/01/36	$	3,596
	4,500,000	g	Basin Electric Power Coop			6.127		06/01/41		5,741
	3,790,000		Bay Area Water Supply & Conservation Agency			2.535		10/01/21		3,853
	2,635,000		Bay Area Water Supply & Conservation Agency			3.015		10/01/24		2,794
	1,170,000		Brunswick & Glynn County Development Authority			3.060		04/01/25		1,195
	8,000,000		California Housing Finance Agency			2.966		08/01/22		8,236
	1,935,000	g	California Municipal Finance Authority			4.250		11/01/23		1,909
	3,380,000		Chicago Board of Education			5.000		12/01/20		3,406
	14,000,000		Chicago Housing Authority			4.361		01/01/38		16,173
	11,645,000		Chicago Metropolitan Water Reclamation District-Greater Chicago			5.720		12/01/38		15,710
	3,500,000		City & County Honolulu HI Wastewater System Revenue			3.200		07/01/26		3,801
	3,035,000		City & County of Honolulu HI			2.668		10/01/27		3,180
	5,645,000		City & County of Honolulu HI			3.974		09/01/35		6,037
	1,615,000		City & County of Honolulu HI			4.004		09/01/36		1,720
	7,085,000		City & County of San Francisco CA			4.000		04/01/47		7,275
	5,500,000		City & County of San Francisco CA Community Facilities District			4.000		09/01/48		5,761
	5,395,000		City of Chicago IL			7.750		01/01/42		6,964
	1,105,000		City of Chicago IL			7.750		01/01/42		1,257
	380,000		City of Eugene, OR			6.320		08/01/22		408
	1,250,000		City of Florence SC			4.250		12/01/34		1,351
	1,000,000		City of Houston TX Combined Utility System Revenue			3.375		11/15/24		1,079
	1,275,000		City of Houston TX Combined Utility System Revenue			4.172		11/15/38		1,392
	5,145,000		City of Los Angeles CA			3.320		09/01/24		5,468
	7,500,000		City of Los Angeles CA			3.880		09/01/38		8,008
	1,780,000	g	City of Miami FL			4.808		01/01/39		1,998
	3,010,000		City of Norfolk VA			3.000		10/01/35		2,852
	3,665,000		City of Norfolk VA			3.050		10/01/36		3,460
	4,835,000		City of Oakland CA			2.070		01/15/29		4,763
	3,345,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.000		11/01/26		3,388
	3,725,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.950		11/01/36		3,824
	8,615,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.303		11/01/39		8,051
	18,500,000		City of San Francisco CA Public Utilities Commission Water Revenue			4.185		11/01/46		19,043
	1,000,000		City of San Juan Capistrano CA			3.700		08/01/31		1,073
	1,000,000		Commonwealth Financing Authority			2.675		06/01/21		1,015
	1,150,000		Commonwealth Financing Authority			2.875		06/01/22		1,183
	2,310,000		Commonwealth Financing Authority			3.075		06/01/23		2,427
	2,730,000		Commonwealth Financing Authority			3.864		06/01/38		3,013
	11,650,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%		0.660		05/15/49		11,517
	7,650,000		County of Alameda CA			3.820		08/01/38		8,046
	685,000		County of Greene OH			2.720		12/01/21		686
	725,000		County of Greene OH			3.120		12/01/23		726
	765,000		County of Greene OH			3.270		12/01/24		766
	790,000		County of Greene OH			3.420		12/01/25		791
	1,500,000		County of Miami-Dade FL Aviation Revenue			2.218		10/01/22		1,491

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	12,015,000		County of Miami-Dade FL Water & Sewer System Revenue		3.490	%	10/01/42	$	12,166
	935,000		County of Saline AR		3.550		06/01/42		972
	15,000,000		District of Columbia Water & Sewer Authority		4.814		10/01/14		19,423
	1,000,000		Grant County Public Utility District No 2		5.470		01/01/34		1,139
	1,250,000		Grant County Public Utility District No 2		4.164		01/01/35		1,449
	22,445,000		Grant County Public Utility District No 2		2.918		01/01/40		22,045
	9,255,000		Grant County Public Utility District No 2		3.210		01/01/40		9,379
	1,200,000		Guadalupe Valley Electric Coop, Inc		5.671		10/01/32		1,431
	795,000		Guadalupe-Blanco River Authority Industrial Development Corp		3.287		04/15/23		817
	640,000		Henry County Water Authority		3.000		01/01/43		559
	850,000		Henry County Water Authority		3.200		01/01/49		816
	1,000,000		Honolulu City & County Board of Water Supply		2.327		07/01/32		1,023
	2,000,000		Kern County Water Agency Improvement District No 4		4.276		05/01/36		2,268
	540,000		Lavaca-Navidad River Authority		3.850		08/01/26		579
	6,430,000		Lavaca-Navidad River Authority		4.430		08/01/35		6,854
	3,430,000		Maryland Community Development Administration Housing Revenue		3.797		03/01/39		3,463
	95,000		Massachusetts Housing Finance Agency		4.782		12/01/20		95
	4,650,000		Massachusetts St. Water Pollution Abatement		5.192		08/01/40		5,451
	500,000		Michigan Finance Authority		5.000		07/01/22		532
	2,000,000		Michigan Finance Authority		5.000		07/01/31		2,248
	3,200,000		Montgomery Water Works & Sanitary Sewer Board		1.701		09/01/21		3,230
	1,655,000		Montgomery Water Works & Sanitary Sewer Board		1.729		09/01/22		1,666
	7,400,000		New Jersey Economic Development Authority		5.706		06/15/30		8,787
	3,000,000		New Jersey Economic Development Authority		5.756		06/15/31		3,587
	3,375,000		New Mexico Finance Authority		4.090		06/15/38		3,647
	4,065,000		New York City Housing Development Corp		3.119		08/01/38		4,048
	2,500,000		New York City Housing Development Corp		3.720		11/01/39		2,572
	1,285,000		New York State Energy Research & Development Authority		2.772		07/01/20		1,291
	1,590,000		New York State Energy Research & Development Authority		3.206		07/01/22		1,659
	1,255,000		New York State Environmental Facilities Corp		3.045		06/15/24		1,337
	1,225,000		New York State Environmental Facilities Corp		3.195		06/15/25		1,325
	2,120,000		New York State Environmental Facilities Corp		3.520		07/15/27		2,379
	17,500,000		New York Transportation Development Corp		5.000		01/01/26		17,559
	4,750,000		Northern California Power Agency		4.320		07/01/24		5,251
	11,245,000		Ohio State Water Development Authority		4.879		12/01/34		12,569
	700,000		Oklahoma Water Resources Board		3.071		04/01/22		726
	13,250,000	g	Oregon State Business Development Commission		6.500		04/01/31		9,193
	2,500,000		Palm Beach County Solid Waste Authority		2.636		10/01/24		2,626
	5,155,000		Papio-Missouri River Natural Resource District		2.088		12/15/24		5,228
	1,070,000		Pend Oreille County Public Utility District No Box Canyon		3.621		01/01/21		1,081
	4,500,000		Pend Oreille County Public Utility District No Box Canyon		5.000		01/01/30		4,739
	180,000	g	Pennsylvania Economic Development Financing Authority		5.750		06/01/36		166
	1,735,000	g	Public Finance Authority		0.000		06/01/29		1,704
	1,000,000		Sacramento Area Flood Control Agency		2.699		10/01/22		1,027
	435,000		San Francisco City & County Redevelopment Agency		3.113		08/01/22		447
	2,000,000		San Francisco City & County Redevelopment Agency		4.375		08/01/44		2,163

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
$	1,100,000		Semitropic Improvement District			2.164	%	12/01/22	$	1,091
	38,330,000		State of California			3.750		10/01/37		40,647
	11,565,000		State of California			4.600		04/01/38		12,734
	10,050,000		State of California			4.988		04/01/39		10,584
	5,445,000	i	State of California	LIBOR 1 M + 0.780%		2.295		04/01/47		5,487
	8,000,000		State of Illinois			5.000		02/01/22		8,191
	9,000,000		State of Illinois			5.520		04/01/38		9,224
	4,505,000		State of Michigan			3.375		12/01/20		4,576
	4,405,000		State of Michigan			3.590		12/01/26		4,639
	2,500,000		State of Ohio			5.412		09/01/28		3,172
	2,500,000		State of Texas			2.749		10/01/23		2,633
	2,025,000		State of Texas			3.576		08/01/34		2,094
	3,370,000		State of Texas			3.726		08/01/43		3,473
	3,000		State of Wisconsin			5.700		05/01/26		3
	5,000,000		Stockton Public Financing Authority			3.610		10/01/40		4,836
	1,650,000	g	Syracuse Industrial Development Agency			5.000		01/01/36		1,696
	2,280,000		Tampa Bay Water			2.612		10/01/25		2,380
	3,225,000		Tampa Bay Water			2.782		10/01/26		3,403
	3,000,000		Tampa Bay Water			2.952		10/01/27		3,144
	1,255,000		Texas Water Development Board			4.248		10/15/35		1,364
	5,880,000		Texas Water Development Board			4.340		10/15/48		6,378
	4,170,000		Texas Water Development Board			4.648		04/15/50		4,499
	5,000,000		Tuolumne Wind Project Authority			6.918		01/01/34		6,680
	3,035,000		University of California			3.809		05/15/28		3,432
	11,400,000		University of California			4.009		05/15/30		13,092
	1,000,000		University of Cincinnati			3.250		06/01/29		1,059
	1,560,000		University of Cincinnati			3.650		06/01/34		1,651
	1,615,000		University of Cincinnati			3.700		06/01/35		1,710
	18,000,000		University of New Mexico			3.532		06/20/32		19,012
	500,000		Upper Allegheny Joint Sanitary Authority			3.550		09/01/39		508
	1,500,000		Upper Allegheny Joint Sanitary Authority			3.800		09/01/49		1,491
	5,000,000		Vermont Educational & Health Buildings Financing Agency			4.000		12/01/42		5,356
	3,000,000		Vermont Educational & Health Buildings Financing Agency			4.000		12/01/46		3,189
	1,000,000		Washington County Clean Water Services			5.078		10/01/24		1,147
	3,750,000		Water Works Board of the City of Birmingham			1.988		01/01/21		3,770
	3,100,000		Water Works Board of the City of Birmingham			2.192		01/01/22		3,154
	600,000		West Virginia Water Development Authority			5.000		11/01/21		635
	1,345,000		West Virginia Water Development Authority			5.000		11/01/22		1,470
	1,000,000		West Virginia Water Development Authority			5.000		11/01/23		1,126
			TOTAL MUNICIPAL BONDS							593,873
U.S. TREASURY SECURITIES - 3.3%
	6,000,000		United States Treasury Bond			3.125		02/15/43		8,206
	1,000,000		United States Treasury Bond			3.375		05/15/44		1,430
	35,830,000		United States Treasury Bond			2.875		11/15/46		48,372
	2,500,000		United States Treasury Bond			3.000		02/15/49		3,486
	108,086,000		United States Treasury Bond			2.375		11/15/49		134,905
	20,454,400	k	United States Treasury Inflation Indexed Bonds			0.500		04/15/24		20,754
	3,730,000		United States Treasury Note			1.500		09/30/21		3,802
	9,350,000		United States Treasury Note			1.500		10/31/21		9,539
	5,000,000		United States Treasury Note			1.125		02/28/22		5,083
	4,150,000		United States Treasury Note			2.000		07/31/22		4,320

398

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,500,000		United States Treasury Note		1.750	%	09/30/22	$	4,669
	36,964,500		United States Treasury Note		0.500		03/15/23		37,195
	31,765,000		United States Treasury Note		2.875		09/30/23		34,613
	6,100,000		United States Treasury Note		2.625		12/31/23		6,626
	5,000,000		United States Treasury Note		1.500		09/30/24		5,254
	1,525,000		United States Treasury Note		2.250		10/31/24		1,655
	9,350,000		United States Treasury Note		2.125		11/30/24		10,109
	13,000,000		United States Treasury Note		1.250		02/28/25		13,483
	6,975,000		United States Treasury Note		0.500		03/31/25		7,019
	5,550,000		United States Treasury Note		2.750		06/30/25		6,220
	18,842,000		United States Treasury Note		2.500		02/28/26		21,049
	11,375,000		United States Treasury Note		0.625		03/31/27		11,438
	35,217,000		United States Treasury Note		1.500		02/15/30		37,965
			TOTAL U.S. TREASURY SECURITIES						437,192
			TOTAL GOVERNMENT BONDS						2,583,289
			(Cost $2,436,307)
STRUCTURED ASSETS - 3.9%
ASSET BACKED - 1.3%
	100,000	g	AMSR Trust		1.819		04/17/37		93
			Series - 2020 SFR1 (Class A)
	900,000	g,i	AMSR Trust		3.148		01/19/39		739
			Series - 2019 SFR1 (Class C)
	800,000	g,i	AMSR Trust		3.247		01/19/39		638
			Series - 2019 SFR1 (Class D)
	5,000,000	g,i	AREIT Trust		1.725		09/14/36		4,605
			Series - 2019 CRE3 (Class A)
	189,806	i	Asset Backed Securities Corp Home Equity Loan Trust		3.386		08/25/34		179
			Series - 2004 HE5 (Class M1)
	1,500,000	i	Bayview Financial Mortgage Pass-Through Trust		1.591		02/28/41		1,397
			Series - 2006 A (Class M3)
	100,000	i	Bear Stearns Asset Backed Securities Trust		1.617		04/25/36		96
			Series - 2006 SD1 (Class M1)
	3,812,848	g	Capital Automotive REIT		3.660		10/15/44		3,440
			Series - 2014 1A (Class A)
	3,773,869	g	Capital Automotive REIT		3.870		04/15/47		3,307
			Series - 2017 1A (Class A1)
	590,095	i	C-BASS Trust		1.027		07/25/36		536
			Series - 2006 CB6 (Class A1)
	4,001,302	i	Chase Funding Loan Acquisition Trust		1.802		06/25/34		3,414
			Series - 2004 OPT1 (Class M1)
	325,000	i	Citigroup Mortgage Loan Trust		1.697		01/25/36		312
			Series - 2006 WFH1 (Class M4)
	220,000	g	Corevest American Finance Trust		1.832		03/15/50		205
			Series - 2020 1 (Class A1)
	1,466,250	g	DB Master Finance LLC		3.629		11/20/47		1,411
			Series - 2017 1A (Class A2I)
	6,940,250	g	Domino’s Pizza Master Issuer LLC		3.082		07/25/47		6,700
			Series - 2017 1A (Class A2II)
	324,187	g,i	Ellington Loan Acquisition Trust		2.047		05/25/37		309
			Series - 2007 2 (Class A2C)

399

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	5,951,701	g	HERO Funding Trust		3.840	%	09/21/40	$	6,142
			Series - 2015 1A (Class A)
	1,441,731	g	HERO Funding Trust		3.990		09/21/40		1,466
			Series - 2014 2A (Class A)
	2,925,469	g	HERO Funding Trust		3.750		09/20/41		3,008
			Series - 2016 2A (Class A)
	2,766,306	g	HERO Funding Trust		4.050		09/20/41		2,871
			Series - 2016 1A (Class A)
	1,075,563	g	HERO Funding Trust		3.080		09/20/42		1,091
			Series - 2016 3A (Class A1)
	238,083	g	HERO Funding Trust		4.500		09/21/42		239
			Series - 2016 1R (Class A1)
	7,212,302	g	HERO Funding Trust		3.710		09/20/47		7,552
			Series - 2017 1A (Class A1)
	7,426,825	g	HERO Funding Trust		3.190		09/20/48		7,297
			Series - 2017 3A (Class A1)
	1,764,774	g	HERO Funding Trust		3.280		09/20/48		1,818
			Series - 2017 2A (Class A1)
	8,152,384	g	HERO Funding Trust		4.670		09/20/48		8,472
			Series - 2018 1A (Class A2)
	30,889	i	Home Equity Asset Trust		3.986		06/25/33		29
			Series - 2003 1 (Class M1)
	100,000	g,i	Invitation Homes Trust		2.155		06/17/37		85
			Series - 2018 SFR2 (Class D)
	499,336	i	JP Morgan Mortgage Acquisition Trust		1.267		03/25/37		457
			Series - 2007 CH3 (Class A1B)
	7,822,154	i	JP Morgan Mortgage Acquisition Trust		1.107		06/25/37		7,232
			Series - 2007 CH5 (Class A1)
	5,987,644	g	Mosaic Solar Loans LLC		3.820		06/22/43		5,937
			Series - 2017 2A (Class A)
	1,197,771	g	Progress Residential Trust		2.897		12/17/34		1,191
			Series - 2017 SFR2 (Class A)
	650,000	i	RASC Trust		3.080		08/25/35		623
			Series - 2005 KS8 (Class M4)
	4,009,117	g	Renew		3.670		09/20/52		4,200
			Series - 2017 1A (Class A)
	8,904,192	g	Renew		3.950		09/20/53		9,280
			Series - 2018 1 (Class A)
	255,680	g	Sierra Timeshare Receivables Funding LLC		2.580		09/20/32		254
			Series - 2015 3A (Class A)
	180,906	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		179
			Series - 2015 3A (Class B)
	4,269,479	g	SolarCity LMC		4.590		04/20/44		4,072
			Series - 2014 1 (Class A)
	22,232,318	g	SolarCity LMC		4.020		07/20/44		20,798
			Series - 2014 2 (Class A)
	3,563,581	g	SolarCity LMC		4.800		09/20/48		3,449
			Series - 2016 A (Class A)
	14,634	i	Structured Asset Investment Loan Trust		1.847		09/25/34		13
			Series - 2004 8 (Class M1)
	73,012	i	Structured Asset Investment Loan Trust		1.947		09/25/34		68
			Series - 2004 8 (Class A9)
	2,046,308	i	Structured Asset Securities Corp Mortgage Loan Trust		3.081		04/25/35		1,871
			Series - 2005 7XS (Class 2A1A)

400

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,891,989	g	Sunrun Athena Issuer LLC		5.310	%	04/30/49	$	2,547
			Series - 2018 1 (Class A)
	9,669,500	g	Sunrun Atlas Issuer LLC		3.610		02/01/55		7,319
			Series - 2019 2 (Class A)
	11,617,621	g	TES LLC		4.330		10/20/47		9,069
			Series - 2017 1A (Class A)
	2,500,000	g	TES LLC		7.740		10/20/47		2,111
			Series - 2017 1A (Class B)
	7,607,655	g	TES LLC		4.120		02/20/48		5,338
			Series - 2017 2A (Class A)
	4,125,000	g	Tesla Auto Lease Trust		2.200		11/21/22		4,035
			Series - 2019 A (Class A4)
	1,500,000	g	Tricon American Homes Trust		4.878		11/17/33		1,428
			Series - 2016 SFR1 (Class E)
	1,000,000	g	Tricon American Homes Trust		4.011		09/17/34		916
			Series - 2017 SFR1 (Class E)
	997,171	g	Tricon American Homes Trust		2.928		01/17/36		979
			Series - 2017 SFR2 (Class A)
	200,000	g	Tricon American Homes Trust		3.275		01/17/36		194
			Series - 2017 SFR2 (Class B)
	14,712,656	g	Vivint Colar Financing V LLC		4.730		04/30/48		12,001
			Series - 2018 1A (Class A)
	1,466,250	g	Wendys Funding LLC		3.573		03/15/48		1,338
			Series - 2018 1A (Class A2I)
			TOTAL ASSET BACKED						174,350
OTHER MORTGAGE BACKED - 2.6%
	1,059,489	g,i	Agate Bay Mortgage Trust		3.500		11/25/44		1,049
			Series - 2014 3 (Class A13)
	547,550	g,i	Agate Bay Mortgage Trust		3.500		09/25/45		554
			Series - 2015 6 (Class A9)
	259,702	i	Alternative Loan Trust		1.447		06/25/34		228
			Series - 2004 8CB (Class M1)
	3,664,116	g,i	Bancorp Commercial Mortgage Trust		1.605		09/15/35		3,181
			Series - 2018 CRE4 (Class A)
	12,500,000	g	BBCMS Trust		3.593		09/15/32		12,505
			Series - 2015 MSQ (Class A)
	6,000,000	g	BBCMS Trust		3.894		09/15/32		5,873
			Series - 2015 MSQ (Class B)
	5,440,000	g,i	BBCMS Trust		4.267		08/05/38		3,544
			Series - 2018 CHRS (Class E)
	3,000,000	g,i	BBCMS Trust		3.688		02/15/53		1,952
			Series - 2020 C6 (Class F5TA)
	800,000		Benchmark Mortgage Trust		4.468		03/15/52		761
			Series - 2019 B9 (Class B)
	2,000,000		Benchmark Mortgage Trust		3.419		08/15/52		2,003
			Series - 2019 B12 (Class AS)
	12,870,000	g,i	Benchmark Mortgage Trust		3.899		03/15/62		8,972
			Series - 2019 B10 (Class 3CCA)
	2,000,000	i	CD Mortgage Trust		3.879		11/10/49		1,894
			Series - 2016 CD2 (Class B)
	2,000,000	i	Citigroup Commercial Mortgage Trust		4.176		04/10/48		1,693
			Series - 2015 GC29 (Class C)

401

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	4,800,000		Citigroup Commercial Mortgage Trust		3.300	%	11/10/52	$	4,536
			Series - 2019 GC43 (Class AS)
	2,500,000		Citigroup Commercial Mortgage Trust		3.018		08/10/56		2,329
			Series - 2019 GC41 (Class AS)
	3,000,000	g,i	Cityline Commercial Mortgage Trust		2.778		11/10/31		2,905
			Series - 2016 CLNE (Class A)
	3,000,000	g	COMM Mortgage Trust		2.681		08/10/29		2,948
			Series - 2016 GCT (Class A)
	2,750,000	g,i	COMM Mortgage Trust		3.413		10/10/29		2,652
			Series - 2017 PANW (Class B)
	6,000,000	g,i	COMM Mortgage Trust		3.538		10/10/29		5,647
			Series - 2017 PANW (Class C)
	5,120,000	g	COMM Mortgage Trust		4.353		08/10/30		5,285
			Series - 2013 300P (Class A1)
	3,500,000	g,i	COMM Mortgage Trust		4.110		03/10/48		2,795
			Series - 2015 CR22 (Class D)
	1,525,000	i	COMM Mortgage Trust		4.304		05/10/48		1,298
			Series - 2015 CR23 (Class C)
	2,000,000	i	COMM Mortgage Trust		4.304		05/10/48		1,592
			Series - 2015 CR23 (Class D)
	2,500,000	i	COMM Mortgage Trust		3.463		08/10/48		1,879
			Series - 2015 CR24 (Class D)
	1,000,000		COMM Mortgage Trust		3.263		08/15/57		1,007
			Series - 2019 GC44 (Class AM)
	2,997,388	i	Connecticut Avenue Securities		3.547		05/25/24		2,689
			Series - 2014 C02 (Class 1M2)
	7,344,733	i	Connecticut Avenue Securities		3.947		07/25/24		6,720
			Series - 2014 C03 (Class 1M2)
	1,483,876	i	Connecticut Avenue Securities		5.947		11/25/24		1,431
			Series - 2014 C04 (Class 2M2)
	389,592	i	Connecticut Avenue Securities		6.497		04/25/28		361
			Series - 2015 C04 (Class 2M2)
	612,871	i	Connecticut Avenue Securities		6.647		04/25/28		606
			Series - 2015 C04 (Class 1M2)
	699,839	i	Connecticut Avenue Securities		7.697		08/25/28		668
			Series - 2016 C01 (Class 1M2)
	1,848,651	i	Connecticut Avenue Securities		7.897		08/25/28		1,847
			Series - 2016 C01 (Class 2M2)
	2,762,594	i	Connecticut Avenue Securities		6.847		10/25/28		2,694
			Series - 2016 C03 (Class 2M2)
	4,638,951	i	Connecticut Avenue Securities		5.197		01/25/29		4,360
			Series - 2016 C04 (Class 1M2)
	3,351,761	i	Connecticut Avenue Securities		5.397		01/25/29		3,199
			Series - 2016 C05 (Class 2M2)
	600,000	i	Connecticut Avenue Securities		5.397		01/25/29		499
			Series - 2016 C05 (Class 2M2B)
	1,650,000	i	Connecticut Avenue Securities		5.197		04/25/29		1,587
			Series - 2016 C06 (Class 1M2)
	4,246,363	i	Connecticut Avenue Securities		3.147		01/25/30		4,100
			Series - 2017 C05 (Class 1M2A)
	686,338	i	Connecticut Avenue Securities		1.847		08/25/30		631
			Series - 2018 C02 (Class 2EA2)
	2,850,000	i	Connecticut Avenue Securities		1.797		10/25/30		2,696
			Series - 2018 C03 (Class 1EA2)

402

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	496,088	g,i	Connecticut Avenue Securities		3.397	%	07/25/31	$	411
			Series - 2019 R01 (Class 2M2)
	7,854,685	g,i	Connecticut Avenue Securities		3.097		09/25/31		6,431
			Series - 2019 R03 (Class 1M2)
	160,000	g,i	Connecticut Avenue Securities		2.947		01/25/40		104
			Series - 2020 R02 (Class 2M2)
	15,000,000	g	CPT Mortgage Trust		2.865		11/13/39		14,694
			Series - 2019 CPT (Class A)
	2,750,000	g,i	CPT Mortgage Trust		2.997		11/13/39		2,096
			Series - 2019 CPT (Class E)
	5,000,000	g,i	Credit Suisse Commercial Mortgage Trust		3.728		11/10/32		4,735
			Series - 2017 CALI (Class B)
	825,000	g,i	Credit Suisse Commercial Mortgage Trust		1.597		05/25/36		777
			Series - 2006 CF2 (Class M3)
	4,713,343	g,i	Credit Suisse Commercial Mortgage Trust		3.500		02/25/48		4,789
			Series - 2018 J1 (Class A11)
	6,650,000	g,i	CSAIL Commercial Mortgage Trust		3.677		06/15/37		6,338
			Series - 2017 C8 (Class 85BA)
	8,750,000	g,i	CSAIL Commercial Mortgage Trust		3.677		06/15/37		6,682
			Series - 2017 C8 (Class 85BB)
	1,715,000	g,i	DBUBS Mortgage Trust		5.689		11/10/46		1,683
			Series - 2011 LC1A (Class C)
	500,000	g,i	Ellington Financial Mortgage Trust		3.587		06/25/59		451
			Series - 2019 1 (Class M1)
	792,890	i	Fieldstone Mortgage Investment Trust		1.682		12/25/35		761
			Series - 2005 2 (Class M2)
	3,012,960	g,i	FirstKey Mortgage Trust		3.500		11/25/44		2,984
			Series - 2014 1 (Class A8)
	568,875	g,i	Flagstar Mortgage Trust		4.113		10/25/47		515
			Series - 2017 2 (Class B3)
	766,158	g,i	Flagstar Mortgage Trust		4.000		09/25/48		757
			Series - 2018 5 (Class A11)
	5,000,000	g	GRACE Mortgage Trust		3.369		06/10/28		5,025
			Series - 2014 GRCE (Class A)
	3,000,000	g,i	GS Mortgage Securities Trust		1.795		10/15/31		2,872
			Series - 2018 HART (Class A)
	3,000,000		GS Mortgage Securities Trust		3.143		10/10/49		2,917
			Series - 2016 GS3 (Class AS)
	830,000	i	GS Mortgage Securities Trust		3.799		11/10/49		659
			Series - 2016 GS4 (Class C)
	2,000,000	g	GS Mortgage Securities Trust		3.000		02/10/52		1,221
			Series - 2019 GC38 (Class D)
	1,260,059	i	HarborView Mortgage Loan Trust		1.370		08/19/45		1,063
			Series - 2005 11 (Class 2A1A)
	6,000,000	g	Hudson Yards Mortgage Trust		2.835		08/10/38		6,141
			Series - 2016 10HY (Class A)
	5,000,000	g,i	Hudson Yards Mortgage Trust		2.977		08/10/38		4,997
			Series - 2016 10HY (Class B)
	5,000,000	g,i	Hudson Yards Mortgage Trust		2.977		08/10/38		4,857
			Series - 2016 10HY (Class C)
	7,000,000	g	Hudson Yards Mortgage Trust		3.228		07/10/39		7,389
			Series - 2019 30HY (Class A)
	8,250,000	g,i	Hudson Yards Mortgage Trust		2.943		12/10/41		7,276
			Series - 2019 55HY (Class E)

403

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	2,000,000	g,i	Hudson Yards Mortgage Trust		2.943	%	12/10/41	$	1,793
			Series - 2019 55HY (Class D)
	2,500,000	g,i	Hudson Yards Mortgage Trust		2.943		12/10/41		2,075
			Series - 2019 55HY (Class F)
	249,408	i	Impac CMB Trust		1.607		03/25/35		215
			Series - 2004 11 (Class 2A1)
	2,800,000		JP Morgan Chase Commercial Mortgage Securities Corp		3.372		12/15/47		2,809
			Series - 2013 C10 (Class AS)
	1,665,908	g,i	JP Morgan Mortgage Trust		2.974		12/25/44		1,334
			Series - 2015 1 (Class B1)
	461,331	g,i	JP Morgan Mortgage Trust		3.500		05/25/45		457
			Series - 2015 3 (Class A19)
	1,734,358	g,i	JP Morgan Mortgage Trust		3.500		10/25/45		1,707
			Series - 2015 6 (Class A13)
	1,003,709	g,i	JP Morgan Mortgage Trust		3.500		05/25/46		999
			Series - 2016 1 (Class A13)
	138,380	g,i	JP Morgan Mortgage Trust		3.500		01/25/47		139
			Series - 2017 1 (Class A3)
	1,082,797	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		1,083
			Series - 2017 2 (Class A13)
	3,425,401	g,i	JP Morgan Mortgage Trust		3.500		05/25/47		3,380
			Series - 2017 2 (Class A5)
	1,409,021	g,i	JP Morgan Mortgage Trust		3.500		08/25/47		1,403
			Series - 2017 3 (Class 1A5)
	264,774	g,i	JP Morgan Mortgage Trust		3.500		09/25/48		258
			Series - 2018 3 (Class A13)
	86,789	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		84
			Series - 2018 4 (Class A13)
	347,891	g,i	JP Morgan Mortgage Trust		3.500		10/25/48		338
			Series - 2018 5 (Class A13)
	156,809	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		157
			Series - 2018 8 (Class A5)
	938,426	g,i	JP Morgan Mortgage Trust		4.000		01/25/49		927
			Series - 2018 8 (Class A13)
	2,050,785	g,i	JP Morgan Mortgage Trust		4.000		02/25/49		2,090
			Series - 2018 9 (Class A13)
	269,035	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		272
			Series - 2019 1 (Class A3)
	2,031,833	g,i	JP Morgan Mortgage Trust		4.000		05/25/49		1,999
			Series - 2019 1 (Class A15)
	54,119	g,i	JP Morgan Mortgage Trust		4.000		08/25/49		54
			Series - 2019 2 (Class A4)
	142,633	g,i	JP Morgan Mortgage Trust		4.751		09/25/49		135
			Series - 2019 3 (Class B1)
	1,679,501	g,i	JP Morgan Mortgage Trust		3.895		06/25/50		1,333
			Series - 2020 1 (Class B2)
	10,000,000	g	Liberty Street Trust		3.597		02/10/36		10,344
			Series - 2016 225L (Class A)
	4,000,000	g,i	MAD Mortgage Trust		3.082		08/15/34		3,839
			Series - 2017 330M (Class A)
	4,000,000	g,i	MAD Mortgage Trust		3.478		08/15/34		3,717
			Series - 2017 330M (Class B)

404

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	621,363	i	Morgan Stanley Capital I Trust		1.772	%	08/25/34	$	594
			Series - 2004 HE6 (Class M1)
	263,690	†,i	Morgan Stanley Capital I Trust		6.149		12/12/49		157
			Series - 2007 IQ16 (Class AJFX)
	5,000,000	g,i	MSDB Trust		3.316		07/11/39		4,720
			Series - 2017 712F (Class A)
	1,050,000	g,i	Natixis Commercial Mortgage Securities Trust		3.790		11/15/32		1,021
			Series - 2018 285M (Class C)
	15,780,000	g,i	Natixis Commercial Mortgage Securities Trust		1.488		07/15/33		15,072
			Series - 2018 850T (Class A)
	5,750,000	g,i	Natixis Commercial Mortgage Securities Trust		2.205		07/15/36		5,381
			Series - 2019 MILE (Class A)
	9,000,000	g,i	Natixis Commercial Mortgage Securities Trust		4.205		07/15/36		8,897
			Series - 2019 MILE (Class E)
	1,750,000	g,i	Natixis Commercial Mortgage Securities Trust		4.955		07/15/36		1,444
			Series - 2019 MILE (Class F)
	139,557	i	New York Mortgage Trust		1.427		02/25/36		127
			Series - 2005 3 (Class A1)
	11,800,000	g	One Bryant Park Trust		2.516		09/15/54		11,755
			Series - 2019 OBP (Class A)
	3,900,000	g	One Market Plaza Trust		3.614		02/10/32		3,785
			Series - 2017 1MKT (Class A)
	1,942,400	g,i	Sequoia Mortgage Trust		3.500		05/25/45		1,980
			Series - 2015 2 (Class A1)
	875,285	g,i	Sequoia Mortgage Trust		3.500		06/25/46		886
			Series - 2016 1 (Class A19)
	326,106	g,i	Sequoia Mortgage Trust		3.500		11/25/46		327
			Series - 2016 3 (Class A10)
	2,151,926	g,i	Sequoia Mortgage Trust		3.500		04/25/47		2,177
			Series - 2017 3 (Class A19)
	728,456	g,i	Sequoia Mortgage Trust		3.754		09/25/47		684
			Series - 2017 6 (Class B1)
	589,417	g,i	Sequoia Mortgage Trust		3.500		02/25/48		593
			Series - 2018 2 (Class A19)
	736,771	g,i	Sequoia Mortgage Trust		3.500		02/25/48		744
			Series - 2018 2 (Class A1)
	185,092	g,i	Sequoia Mortgage Trust		3.500		03/25/48		184
			Series - 2018 3 (Class A4)
	289,421	g,i	Sequoia Mortgage Trust		4.000		09/25/48		288
			Series - 2018 7 (Class A4)
	163,513	g,i	Sequoia Mortgage Trust		4.000		09/25/48		164
			Series - 2018 7 (Class A19)
	328,069	g,i	Sequoia Mortgage Trust		4.000		11/25/48		336
			Series - 2018 8 (Class A1)
	54,678	g,i	Sequoia Mortgage Trust		4.000		11/25/48		56
			Series - 2018 8 (Class A19)
	2,548,495	g,i	Sequoia Mortgage Trust		4.000		06/25/49		2,534
			Series - 2019 2 (Class A1)
	649,133	g,i	Sequoia Mortgage Trust		4.000		06/25/49		642
			Series - 2019 2 (Class A19)
	1,868,810	g,i	Sequoia Mortgage Trust		3.500		11/25/49		1,896
			Series - 2019 4 (Class A1)
	1,629,403	g,i	Sequoia Mortgage Trust		3.500		12/25/49		1,659
			Series - 2019 5 (Class A1)

405

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	910,549	g,i	Sequoia Mortgage Trust		3.500	%	12/25/49	$	922
			Series - 2019 5 (Class A19)
	2,590,000	g,i	Sequoia Mortgage Trust		3.000		04/25/50		2,610
			Series - 2020 3 (Class A19)
	383,663	g,i	Shellpoint Co-Originator Trust		3.500		11/25/46		384
			Series - 2016 1 (Class 1A10)
	3,049,685	g,i	Shellpoint Co-Originator Trust		3.500		10/25/47		3,089
			Series - 2017 2 (Class A1)
	433,946	i	Structured Agency Credit Risk Debt Note (STACR)		4.747		03/25/25		414
			Series - 2015 HQ1 (Class M3)
	801,001	i	STACR		2.297		03/25/29		767
			Series - 2016 HQA3 (Class M2)
	350,000	i	STACR		4.197		07/25/29		308
			Series - 2017 DNA1 (Class M2)
	2,362,724	i	STACR		2.147		10/25/29		2,301
			Series - 2017 DNA2 (Class M1)
	2,956,586	i	STACR		1.897		04/25/30		2,764
			Series - 2017 HQA3 (Class M2AS)
	219,939	i	STACR		3.297		04/25/30		189
			Series - HQA3 (Class M2)
	211,876	g,i	STACR		3.729		02/25/48		211
			Series - 2018 SPI1 (Class M1)
	849,713	g,i	STACR		3.811		05/25/48		822
			Series - 2018 SPI2 (Class M1)
	409,008	g,i	STACR		4.148		08/25/48		399
			Series - 2018 SPI3 (Class M1)
	1,928,095	g,i	STACR		4.461		11/25/48		1,586
			Series - 2018 SPI4 (Class M2)
	670,000	g,i	STACR		2.797		02/25/50		426
			Series - 2020 DNA2 (Class M2)
	620,000	g,i	STACR		3.911		03/25/50		399
			Series - 2020 HQA2 (Class M2)
	1,030,000		Wells Fargo Commercial Mortgage Trust		3.539		10/15/45		1,036
			Series - 2012 LC5 (Class AS)
	1,254,829	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		1,264
			Series - 2019 2 (Class A17)
			TOTAL OTHER MORTGAGE BACKED						342,730
			TOTAL STRUCTURED ASSETS						517,080
			(Cost $556,040)
			TOTAL BONDS						5,272,469
			(Cost $5,167,186)
SHARES			COMPANY
COMMON STOCKS - 56.2%
AUTOMOBILES & COMPONENTS - 0.8%
	74,280	e	Aptiv plc						3,658
	562	e	Autoliv, Inc						26
	177,894		Bayerische Motoren Werke AG.						9,081
	47,830		Bayerische Motoren Werke AG. (Preference)						2,028
	14,525		BorgWarner, Inc						354

406

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	34,572	*	Cooper-Standard Holding, Inc	$	355
	220,582		Denso Corp		7,049
	55,706	e	Harley-Davidson, Inc		1,054
	581,780		Honda Motor Co Ltd		13,018
	105,512		Magna International, Inc		3,367
	56,903		Michelin (C.G.D.E.) (Class B)		4,984
	59,408	*	Modine Manufacturing Co		193
	492,186	e	Peugeot S.A.		6,408
	6,889	g	Pirelli & C S.p.A		24
	206,727	e	Renault S.A.		3,929
	31,000		Stanley Electric Co Ltd		608
	97,152	*,e	Tenneco, Inc		350
	42,669	*	Tesla, Inc		22,359
	485,500	*	Toyota Motor Corp		29,259
	40,640		Valeo S.A.		661
			TOTAL AUTOMOBILES & COMPONENTS		108,765
BANKS - 2.9%
	20,740		Ameris Bancorp		493
	51,530		Associated Banc-Corp		659
	894,208		Australia & New Zealand Banking Group Ltd		9,378
	2,471,466		Banco Bilbao Vizcaya Argentaria S.A.		7,653
	1,061,593		Bank Hapoalim Ltd		6,361
	841,607		Bank Leumi Le-Israel		4,641
	182,005		Bank of Montreal		9,190
	317,885		Bank of Nova Scotia		12,981
	60,679		Bank OZK		1,013
	2,405		Banner Corp		79
	356	e	Bendigo Bank Ltd		1
	78,179		Berkshire Hills Bancorp, Inc		1,162
	2,782,000		BOC Hong Kong Holdings Ltd		7,637
	16,180		Brookline Bancorp, Inc		182
	13,829		Bryn Mawr Bank Corp		392
	10,067		Cadence BanCorp		66
	2,926,176		CaixaBank S.A.		5,415
	19,106		Camden National Corp		601
	79,444	e	Canadian Imperial Bank of Commerce		4,629
	609,837		Citizens Financial Group, Inc		11,471
	2,120		Columbia Banking System, Inc		57
	147,460	e	Comerica, Inc		4,326
	712		Commerce Bancshares, Inc		36
	464,091		Commonwealth Bank of Australia		17,510
	889		Community Trust Bancorp, Inc		28
	9,015	e	Cullen/Frost Bankers, Inc		503
	67,309	*	Customers Bancorp, Inc		736
	648,293		DBS Group Holdings Ltd		8,459
	55,282		Erste Bank der Oesterreichischen Sparkassen AG.		1,012
	15,927	e	Federal Agricultural Mortgage Corp (Class C)		886
	367,464	e	Fifth Third Bancorp		5,457
	4,049		First Financial Corp		137
	56,712	e	First Republic Bank		4,666
	2,590		Glacier Bancorp, Inc		88
	77,515		Great Western Bancorp, Inc		1,587
	5,441		Hancock Whitney Corp		106

407

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	490,500		Hang Seng Bank Ltd	$	8,357
	31,513		Hanmi Financial Corp		342
	16,503		Heartland Financial USA, Inc		498
	21,036	e	Heritage Financial Corp		421
	24,702		HomeStreet, Inc		549
	21,937		HomeTrust Bancshares, Inc		349
	362,200		Huntington Bancshares, Inc		2,974
	1,518,238		ING Groep NV		7,780
	5,731,382		Intesa Sanpaolo S.p.A.		9,274
	139,026		Investors Bancorp, Inc		1,111
	125,286		KBC Groep NV		5,685
	96,100		Kearny Financial Corp		825
	801,909		Keycorp		8,316
	22,925		Live Oak Bancshares, Inc		286
	118,876	e	M&T Bank Corp		12,295
	106,690		Mizrahi Tefahot Bank Ltd		1,964
	8,047	*	Mr Cooper Group, Inc		59
	989,771		National Australia Bank Ltd		10,153
	42,093		National Bank Holdings Corp		1,006
	3,324		NBT Bancorp, Inc		108
	820,691		New York Community Bancorp, Inc		7,706
	54,855		Northfield Bancorp, Inc		614
	59,142	e	OFG Bancorp		661
	9,051		Old National Bancorp		119
	31,456		Opus Bank		545
	34,525		PacWest Bancorp		619
	189,303	e	People’s United Financial, Inc		2,092
	57,846		Pinnacle Financial Partners, Inc		2,172
	327,822	e	PNC Financial Services Group, Inc		31,379
	905,719		Regions Financial Corp		8,124
	2,027,100		Resona Holdings, Inc		6,078
	4,704		Signature Bank		378
	590,050	*	Skandinaviska Enskilda Banken AB (Class A)		3,952
	1,564,888		Standard Chartered plc		8,652
	17,395		Sterling Bancorp/DE		182
	8,646		Stock Yards Bancorp, Inc		250
	240,000		Sumitomo Mitsui Trust Holdings, Inc		6,895
	23,135	*	SVB Financial Group		3,495
	607,817		Svenska Handelsbanken AB		5,013
	558,465	*	Swedbank AB (A Shares)		6,159
	18,341	*	Texas Capital Bancshares, Inc		407
	6,965	e	TFS Financial Corp		106
	50,351	*	The Bancorp, Inc		306
	475,503		Toronto-Dominion Bank		20,216
	7,365		Trico Bancshares		220
	17,930	*	Tristate Capital Holdings, Inc		173
	688,979	e	Truist Financial Corp		21,248
	1,700	e	Trustmark Corp		40
	5,827		Umpqua Holdings Corp		64
	12,481		Univest Financial Corp		204
	978,550		US Bancorp		33,711
	14,406		Webster Financial Corp		330
	30,378		WesBanco, Inc		720
	3,019	e	Westamerica Bancorporation		177

408

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	28,038		Western Alliance Bancorp	$	858
	1,108,448		Westpac Banking Corp		11,385
	1,110		Wintrust Financial Corp		36
	1,706	e	WSFS Financial Corp		43
	68,206		Zions Bancorporation		1,825
			TOTAL BANKS		389,104
CAPITAL GOODS - 3.8%
	287,086		3M Co		39,190
	615,601	e	ABB Ltd		10,700
	881		Acuity Brands, Inc		75
	5,516	*	Aegion Corp		99
	24,716	e	Argan, Inc		854
	167,764		Assa Abloy AB		3,132
	47,888	*	Astronics Corp		440
	136,413		Atlas Copco AB (A Shares)		4,536
	165,638		Atlas Copco AB (B Shares)		4,818
	112,019	*	Axon Enterprise, Inc		7,928
	68,269		Barnes Group, Inc		2,856
	2,120	*	Beacon Roofing Supply, Inc		35
	46,560		Bouygues S.A.		1,351
	38,706		Brenntag AG.		1,406
	91,630	e	Briggs & Stratton Corp		166
	190,328		CAE, Inc		2,406
	21,582		Carlisle Cos, Inc		2,704
	251,381		Caterpillar, Inc		29,170
	866,069		CNH Industrial NV		4,933
	106,312		Compagnie de Saint-Gobain		2,551
	47,541		Cummins, Inc		6,433
	95,039		Curtiss-Wright Corp		8,783
	89,000		Daikin Industries Ltd		10,744
	92,545		DCC plc		5,780
	134,115		Deere & Co		18,529
	17,181		Dover Corp		1,442
	263,482		Eaton Corp		20,470
	14,474		Eiffage S.A.		1,027
	4,718	e	EMCOR Group, Inc		289
	165,193		Fastenal Co		5,162
	99,998		Ferguson plc		6,183
	215	e	Flowserve Corp		5
	134,151		Fortive Corp		7,404
	88,521		HEICO Corp		6,605
	173,395		HEICO Corp (Class A)		11,080
	32,714	*	Herc Holdings, Inc		669
	109,696		Hexcel Corp		4,080
	97,900	*,e	Hitachi Construction Machinery Co Ltd		1,963
	18,668		Hochtief AG.		1,226
	386		IDEX Corp		53
	215,331		Illinois Tool Works, Inc		30,603
	81,524	*	Ingersoll Rand, Inc		2,022
	422,795		Johnson Controls International plc		11,399
	303,500		Kajima Corp		3,102
	152,000	e	Kawasaki Heavy Industries Ltd		2,187
	1,335,270	e	Keppel Corp Ltd		4,966

409

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	421,000		Komatsu Ltd	$	6,813
	579,800		Kubota Corp		7,375
	14,151		Legrand S.A.		903
	86		Lennox International, Inc		16
	24,449	*	Lydall, Inc		158
	224,488		Masco Corp		7,761
	835,916		Meggitt plc		3,005
	121,540	*	Mercury Systems, Inc		8,671
	530,200		Mitsubishi Corp		11,215
	29,641	e	Moog, Inc (Class A)		1,498
	40,931		MTU Aero Engines Holding AG.		5,918
	8,124	*	MYR Group, Inc		213
	333,800		Obayashi Corp		2,832
	5,749		Owens Corning, Inc		223
	154,338		PACCAR, Inc		9,435
	63,269		Parker-Hannifin Corp		8,208
	77,855		Quanta Services, Inc		2,470
	49,126		Rockwell Automation, Inc		7,414
	49,017		Roper Technologies Inc		15,284
	8,372		Rush Enterprises, Inc (Class A)		267
	169,320		Schneider Electric S.A.		14,311
	37,894	*	Sensata Technologies Holding plc		1,096
	386,200		Shimizu Corp		3,005
	209,928		Siemens AG.		17,578
	11,700		Snap-On, Inc		1,273
	235,303	e	Spirit Aerosystems Holdings, Inc (Class A)		5,631
	22,355		Stanley Black & Decker, Inc		2,236
	970,500		Techtronic Industries Co		6,163
	22,276	*	Titan Machinery, Inc		194
	92,390		Trane Technologies plc		7,630
	62,144		TransDigm Group, Inc		19,898
	13,470	*	Trimas Corp		311
	38,980	*	United Rentals, Inc		4,011
	11,371		Vestas Wind Systems AS		925
	678,295		Volvo AB (B Shares)		8,062
	17,820		W.W. Grainger, Inc		4,428
	22,090	e	Wabash National Corp		159
	1,705	*	WABCO Holdings, Inc		230
	350,496		Wartsila Oyj (B Shares)		2,559
	698	*	WESCO International, Inc		16
	46,620		Woodward Inc		2,771
	12,800	e	WSP Global, Inc		727
	49,895		Xylem, Inc		3,250
			TOTAL CAPITAL GOODS		497,699
COMMERCIAL & PROFESSIONAL SERVICES - 0.8%
	2,604		ABM Industries, Inc		63
	36,304		ACCO Brands Corp		183
	25,543		Adecco S.A.		1,007
	1,000	*	ASGN Inc		35
	1,175		Brambles Ltd		8
	2,491		Cintas Corp		432
	38,942	*	Copart, Inc		2,668
	18,766		Exponent, Inc		1,350

410

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	12,422		Heidrick & Struggles International, Inc	$	280
	6,731	*	Huron Consulting Group, Inc		305
	11,793		ICF International, Inc		810
	341,064		IHS Markit Ltd		20,464
	125,772		Intertek Group plc		7,348
	25,735		Kelly Services, Inc (Class A)		327
	15,748		Manpower, Inc		835
	23,089	*	Mistras Group, Inc		98
	2,100	e	Mobile Mini, Inc		55
	42,309	e	Quad Graphics, Inc		107
	37,666		Randstad Holdings NV		1,329
	347,100		Recruit Holdings Co Ltd		8,966
	671,703		RELX plc		14,336
	21,731	e	Resources Connection, Inc		238
	73,813		Robert Half International, Inc		2,786
	1,100		Secom Co Ltd		91
	3,476		SGS S.A.		8,017
	66,652	*,e	Team, Inc		433
	6,509		Teleperformance		1,348
	157,057		TransUnion		10,394
	14,029		Verisk Analytics, Inc		1,955
	14,915		Viad Corp		317
	187,412		Waste Management, Inc		17,347
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		103,932
CONSUMER DURABLES & APPAREL - 1.0%
	51,093		Adidas-Salomon AG.		11,344
	490,275		Barratt Developments plc		2,650
	48,830		Berkeley Group Holdings plc		2,180
	224,447		Burberry Group plc		3,648
	39,764		Callaway Golf Co		406
	270	*	Capri Holdings Ltd		3
	54,962	*	Century Communities, Inc		798
	94,209		Essilor International S.A.		9,974
	29,662	e	Ethan Allen Interiors, Inc		303
	94,242	*,e	Fossil Group, Inc		310
	2,420	e	Hanesbrands, Inc		19
	804		Hasbro, Inc		58
	16,614	e	Hooker Furniture Corp		259
	15,890	*,e	iRobot Corp		650
	5,942	*	Lululemon Athletica, Inc		1,126
	20,763	*	Meritage Homes Corp		758
	24,650	*,e	Mohawk Industries, Inc		1,879
	8,565	e	Movado Group, Inc		101
	38,997		Newell Brands Inc		518
	523,510		Nike, Inc (Class B)		43,315
	2,643	*	NVR, Inc		6,790
	990,000		Panasonic Corp		7,495
	21,874		Pandora AS		703
	646		PVH Corp		24
	9,294		SEB S.A.		1,151
	296,900		Sekisui House Ltd		4,897
	225,400	*,e	Sharp Corp		2,340
	344,600		Sony Corp		20,412

411

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	750		Tapestry, Inc	$	10
	943,268		Taylor Wimpey plc		1,357
	1,353	*,e	Under Armour, Inc (Class A)		13
	1,094	*	Under Armour, Inc (Class C)		9
	18,549	*	Unifi, Inc		214
	96,384		VF Corp		5,212
			TOTAL CONSUMER DURABLES & APPAREL		130,926
CONSUMER SERVICES - 1.0%
	138,079		Accor S.A.		3,710
	29,876	*	American Public Education, Inc		715
	33,977		BBX Capital Corp		78
	38,245	*	Bright Horizons Family Solutions		3,901
	27,648		Carriage Services, Inc		447
	17,186	*	Chipotle Mexican Grill, Inc (Class A)		11,247
	628,630		Compass Group plc		9,794
	51,186		Darden Restaurants, Inc		2,788
	9,282		Domino’s Pizza, Inc		3,008
	3,927		Dunkin Brands Group, Inc		209
	28,743	*,e	El Pollo Loco Holdings, Inc		243
	21,740	*	frontdoor, Inc		756
	8,393		Graham Holdings Co		2,863
	203,340		Hilton Worldwide Holdings, Inc		13,876
	221,017	*	Houghton Mifflin Harcourt Co		416
	167,071		InterContinental Hotels Group plc		7,108
	20,887		Marriott Vacations Worldwide Corp		1,161
	103,328	*,e	Norwegian Cruise Line Holdings Ltd		1,132
	80,100	e	Oriental Land Co Ltd		10,225
	27,393	*,e	Red Robin Gourmet Burgers, Inc		233
	56,379	*,e	Regis Corp		333
	101,933	e	Royal Caribbean Cruises Ltd		3,279
	103,129		Service Corp International		4,033
	45,890	*	ServiceMaster Global Holdings, Inc		1,239
	635		Six Flags Entertainment Corp		8
	635,568		Starbucks Corp		41,782
	14,358		Vail Resorts, Inc		2,121
	105,535		Whitbread plc		3,911
	11,827	*	WW International Inc		200
			TOTAL CONSUMER SERVICES		130,816
DIVERSIFIED FINANCIALS - 3.0%
	691,140		3i Group plc		6,697
	78,780		Ally Financial, Inc		1,137
	342,879		American Express Co		29,354
	2,187		Ameriprise Financial, Inc		224
	1,444,992	*	AMP Ltd		1,180
	40,050	g	Amundi S.A.		2,317
	9,842		Annaly Capital Management, Inc		50
	676,156	e	Bank of New York Mellon Corp		22,773
	66,706		BlackRock, Inc		29,349
	91,630		Brookfield Asset Management, Inc		4,062
	120,164		Capstead Mortgage Corp		505
	572,599		Charles Schwab Corp		19,251
	97,107		Chimera Investment Corp		884

412

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	183,885	e	CME Group, Inc	$	31,796
	47,319		Deutsche Boerse AG.		6,501
	607,537		Discover Financial Services		21,671
	29,186		E*TRADE Financial Corp		1,002
	14,320		Eurazeo		642
	11,008		Factset Research Systems, Inc		2,870
	115,174	e	Franklin Resources, Inc		1,922
	14,336	*	Green Dot Corp		364
	438,497		Hong Kong Exchanges and Clearing Ltd		13,137
	422,247		Intercontinental Exchange Group, Inc		34,096
	229,267	e	Invesco Ltd		2,082
	47,941		Legg Mason, Inc		2,342
	135,850		London Stock Exchange Group plc		12,153
	145,300		Macquarie Group Ltd		7,738
	390,100		Mitsubishi UFJ Lease & Finance Co Ltd		1,909
	55,264		Moody’s Corp		11,688
	809,701	e	Morgan Stanley		27,530
	27,196	e	Nasdaq Inc		2,582
	1,018,180	e	Natixis		3,242
	12,048	*,†	NewStar Financial, Inc		3
	158,333	e	Northern Trust Corp		11,948
	104,012	*	On Deck Capital, Inc		160
	30,998		Redwood Trust, Inc		157
	158,703		S&P Global, Inc		38,890
	115,786		Schroders plc		3,540
	2,147,611		Standard Life Aberdeen plc		5,927
	165,010	e	State Street Corp		8,790
	66,412	e	T Rowe Price Group, Inc		6,485
	1,365,733		UBS Group AG		12,518
	26,721		Voya Financial, Inc		1,083
	26,666		Wendel		2,116
			TOTAL DIVERSIFIED FINANCIALS		394,667
ENERGY - 1.8%
	2,369		Aker BP ASA		30
	595,333	*	Antero Resources Corp		424
	196,462	e	Apache Corp		821
	262,004		Baker Hughes Co		2,751
	0	*,e	California Resources Corp		0	^
	934,161	*	Callon Petroleum Co		512
	1,054,192	e	Cenovus Energy, Inc (Toronto)		2,127
	3,728	*	Cheniere Energy, Inc		125
	516,986		Chevron Corp		37,461
	21,267	e	Cimarex Energy Co		358
	694,331		ConocoPhillips		21,385
	9,468	e	Delek US Holdings, Inc		149
	946,023	*,e	Denbury Resources, Inc		175
	216,448		Devon Energy Corp		1,496
	518,980		Enbridge, Inc (Toronto)		15,113
	559,610		ENI S.p.A.		5,561
	269,602		EQT Corp		1,906
	691,534		Equinor ASA		8,621
	81,492	*,e	Exterran Corp		391
	504,797		Galp Energia SGPS S.A.		5,773

413

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	75,259	*,e	Green Plains Inc	$	365
	297,084	*,e	Gulfport Energy Corp		132
	65,323	*	Helix Energy Solutions Group, Inc		107
	103,491		Hess Corp		3,446
	860,386		Inpex Holdings, Inc		4,827
	1,730,675		Kinder Morgan, Inc		24,091
	6,109		Koninklijke Vopak NV		321
	463,395	*,e	Laredo Petroleum Holdings, Inc		176
	111,518	e	Lundin Petroleum AB		2,105
	650,995	e	Marathon Oil Corp		2,142
	28,451	*	Matrix Service Co		269
	11,094	e	National Oilwell Varco, Inc		109
	267,760		Neste Oil Oyj		8,902
	107,917	*	Newpark Resources, Inc		97
	280,981	e	Noble Energy, Inc		1,697
	652,639	*,e	Oasis Petroleum, Inc		228
	5,830	*,e	Oceaneering International, Inc		17
	153,641		OMV AG.		4,205
	4,001	e	ONEOK, Inc		87
	68,915	e	Ovintiv, Inc		189
	45,731		Parsley Energy, Inc		262
	18,249		PBF Energy, Inc		129
	280,122		QEP Resources Inc		94
	456,187	e	Range Resources Corp		1,040
	832,867		Repsol YPF S.A.		7,430
	7,940		Santos Ltd		16
	756,145		Schlumberger Ltd		10,200
	213,779	e	SM Energy Co		261
	977,875	*,e	Southwestern Energy Co		1,653
	557,401		Suncor Energy, Inc		8,896
	5,939		TechnipFMC plc (Euro OTC)		40
	182,269	*,e	Tellurian, Inc		165
	393,022		Tenaris S.A.		2,371
	14,614	*	Tidewater, Inc		103
	613,307		Total S.A.		23,109
	173,089	e	US Silica Holdings, Inc		312
	285,462		Valero Energy Corp		12,949
	453,275		Williams Cos, Inc		6,414
	135,492		Woodside Petroleum Ltd		1,504
	1,470	e	Worley Ltd		5
			TOTAL ENERGY		235,644
FOOD & STAPLES RETAILING - 0.6%
	293,800		Aeon Co Ltd		6,509
	232,229		Alimentation Couche Tard, Inc		5,470
	86,085	e	Carrefour S.A.		1,365
	75,546		Casey’s General Stores, Inc		10,009
	58,164	e	Casino Guichard Perrachon S.A.		2,226
	46,387	*,e	Chefs’ Warehouse Holdings, Inc		467
	13,275		Coles Group Ltd		124
	63,518		George Weston Ltd		4,542
	1,559		ICA Gruppen AB		65
	1,769,105		J Sainsbury plc		4,577
	800		Lawson, Inc		44

414

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	155,267		Loblaw Cos Ltd	$	8,004
	147,990		Metro Wholesale & Food Specialist AG.		1,260
	48,244		Pricesmart, Inc		2,535
	91,533		SpartanNash Co		1,311
	261,352	*	Sprouts Farmers Market, Inc		4,859
	4,122,072		Tesco plc		11,641
	129,096	*,e	United Natural Foods, Inc		1,185
	487,346	*	US Foods Holding Corp		8,631
	18,123	e	Weis Markets, Inc		755
	800		Welcia Holdings Co Ltd		56
	2,106,392		WM Morrison Supermarkets plc		4,602
			TOTAL FOOD & STAPLES RETAILING		80,237
FOOD, BEVERAGE & TOBACCO - 2.5%
	59,410	*	a2 Milk Co Ltd		607
	364,500		Ajinomoto Co, Inc		6,792
	328,492		Associated British Foods plc		7,358
	3,195		Barry Callebaut AG.		6,395
	61,506	*,e	Beyond Meat, Inc		4,096
	58,791		Bunge Ltd		2,412
	106,791	e	Campbell Soup Co		4,930
	423,452		Coca-Cola Amatil Ltd		2,286
	1,346,062		Coca-Cola Co		59,563
	185,854		Coca-Cola European Partners plc (Class A)		6,975
	214,459		Coca-Cola HBC AG.		4,599
	221,265		Danone		14,161
	8,514	*,e	Farmer Bros Co		59
	53,360	e	Fresh Del Monte Produce, Inc		1,473
	451,954	e	General Mills, Inc		23,850
	2,360	*	Hain Celestial Group, Inc		61
	274,951	e	Hormel Foods Corp		12,824
	174,849	e	Kellogg Co		10,489
	87,691		Kerry Group plc (Class A)		10,174
	146,000	e	Kikkoman Corp		6,190
	48,078		McCormick & Co, Inc		6,789
	17,200		MEIJI Holdings Co Ltd		1,219
	113,527		Mowi ASA		1,717
	602,999		Nestle S.A.		61,728
	29,600		Nissin Food Products Co Ltd		2,457
	302,914		Orkla ASA		2,595
	503,608		PepsiCo, Inc		60,483
	141,100		Suntory Beverage & Food Ltd		5,332
	4,570	*,e	TreeHouse Foods, Inc		202
	330,000	e	Vitasoy International Holdings Ltd		993
	116,700		Yakult Honsha Co Ltd		6,875
			TOTAL FOOD, BEVERAGE & TOBACCO		335,684
HEALTH CARE EQUIPMENT & SERVICES - 3.0%
	40,936	*,e	Abiomed, Inc		5,942
	117,189	*	Alcon, Inc		6,004
	126,200		Alfresa Holdings Corp		2,349
	57,006	*	Align Technology, Inc		9,916
	360,240	*,e	Allscripts Healthcare Solutions, Inc		2,536
	93,049	*	Angiodynamics, Inc		970

415

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	224,873	*	Antares Pharma, Inc	$	531
	32,319	*	AtriCure, Inc		1,086
	33,262	*,e	Axonics Modulation Technologies, Inc		845
	30,445	*	BioTelemetry, Inc		1,172
	193,127		Cardinal Health, Inc		9,258
	27,564	*	Cardiovascular Systems, Inc		971
	3,908	*	Centene Corp		232
	399,732		Cerner Corp		25,179
	282,205	*	Cerus Corp		1,312
	90,903		Cigna Corp		16,106
	6,294	e	Cochlear Ltd		717
	50,101		Coloplast AS		7,266
	22,324	e	Computer Programs & Systems, Inc		497
	46,103		Cooper Cos, Inc		12,709
	231,336	*,e	Covetrus, Inc		1,883
	25,039	*,e	Cross Country Healthcare, Inc		169
	432,814		CVS Health Corp		25,679
	178,457		Dentsply Sirona, Inc		6,929
	151,741	*	Edwards Lifesciences Corp		28,621
	122,884	*	Envista Holdings Corp		1,836
	85,890		Fisher & Paykel Healthcare Corp		1,561
	74,742	*	GenMark Diagnostics, Inc		308
	15,806	*	Glaukos Corp		488
	41,786	*,e	Globus Medical, Inc		1,777
	9,550	*,e	Haemonetics Corp		952
	149,381		HCA Healthcare, Inc		13,422
	38,768	*	Health Catalyst, Inc		1,014
	30,112	*	Henry Schein, Inc		1,521
	13,064	*,e	Heska Corp		722
	30,772		Hill-Rom Holdings, Inc		3,096
	10,561	*	HMS Holdings Corp		267
	127,585	*	Hologic, Inc		4,478
	61,090		Humana, Inc		19,183
	59,869	*	IDEXX Laboratories, Inc		14,503
	32,221	*	Integer Holding Corp		2,025
	55,485	*	Laboratory Corp of America Holdings		7,013
	27,738	e	LeMaitre Vascular, Inc		691
	6,876	*	LHC Group, Inc		964
	9,373	*	LivaNova plc		424
	77,072	*	Meridian Bioscience, Inc		647
	116,350	*	Merit Medical Systems, Inc		3,636
	106,223	*	NextGen Healthcare, Inc		1,109
	38,612	*	Omnicell, Inc		2,532
	142,899	*	OraSure Technologies, Inc		1,538
	37,581	*	Orthofix Medical Inc		1,053
	29,990	e	Owens & Minor, Inc		274
	12,383	*,e	Penumbra, Inc		1,998
	2,830	*	Premier, Inc		93
	15,337	*	Providence Service Corp		842
	31,422		Quest Diagnostics, Inc		2,523
	18,615	*	Quidel Corp		1,821
	125,777		Ramsay Health Care Ltd		4,423
	90,650		Resmed, Inc		13,352
	282,183		Ryman Healthcare Ltd		1,712

416

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	35,159	*	Sartorius AG.	$	8,406
	26,000		Sonova Holdings AG		4,636
	48,724	*	Staar Surgical Co		1,572
	34,863		STERIS plc		4,880
	41,823	*,e	Surgery Partners, Inc		273
	111,100		Sysmex Corp		8,041
	32,643	*,e	Tactile Systems Technology, Inc		1,311
	27,555	*,e	Tandem Diabetes Care, Inc		1,773
	63,878	*,e	Teladoc, Inc		9,902
	43,590	*,e	Tivity Health, Inc		274
	59,181	*,e	Triple-S Management Corp (Class B)		834
	259,667		UnitedHealth Group, Inc		64,756
	42,075	*	Varian Medical Systems, Inc		4,319
	63,073	*,e	Vocera Communications, Inc		1,340
	30,928	e	West Pharmaceutical Services, Inc		4,709
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		399,703
HOUSEHOLD & PERSONAL PRODUCTS - 1.5%
	32,966		Beiersdorf AG.		3,319
	344,633		Colgate-Palmolive Co		22,870
	339,906		Essity AB		10,413
	85,801		Estee Lauder Cos (Class A)		13,672
	100,862		Henkel KGaA		7,409
	37,753		Henkel KGaA (Preference)		3,020
	140,500		Kao Corp		11,446
	64,634		Kimberly-Clark Corp		8,265
	500		Kobayashi Pharmaceutical Co Ltd		46
	22,700	e	Kose Corp		2,809
	73,561		L’Oreal S.A.		19,038
	748,639		Procter & Gamble Co		82,350
	166,600		Shiseido Co Ltd		9,792
	129,700		Uni-Charm Corp		4,855
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		199,304
INSURANCE - 2.1%
	1,924,373		Aegon NV		4,806
	111,142		Allianz AG.		18,927
	124,952		Allstate Corp		11,462
	614,697	e	American International Group, Inc		14,906
	44,909		Aon plc		7,412
	554,526		Assicurazioni Generali S.p.A.		7,511
	2,389,502		Aviva plc		7,856
	574,060		AXA S.A.		9,720
	267,000	e	Chubb Ltd		29,821
	181,870		CNP Assurances		1,761
	3,196,754		Legal & General Group plc		7,553
	26,132		Lincoln National Corp		688
	249,164	e	Loews Corp		8,678
	312,881		Marsh & McLennan Cos, Inc		27,052
	31,460		Muenchener Rueckver AG.		6,326
	123,000		NKSJ Holdings, Inc		3,791
	61,399	e	Principal Financial Group		1,924
	385,562	e	Progressive Corp		28,470
	360,371		Prudential Financial, Inc		18,790

417

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	931,355		Prudential plc	$	11,670
	75,475		Sun Life Financial, Inc		2,428
	118,769		Swiss Re Ltd		9,145
	173,200		Tokio Marine Holdings, Inc		7,925
	171,882		Travelers Cos, Inc		17,076
	10,612		Willis Towers Watson plc		1,802
	43,876		Zurich Insurance Group AG		15,414
			TOTAL INSURANCE		282,914
MATERIALS - 2.4%
	154,779		Agnico-Eagle Mines Ltd		6,179
	132,474		Air Liquide		16,910
	2,620,546	e	Alumina Ltd		2,348
	11,514		Aptargroup, Inc		1,146
	480,800		Asahi Kasei Corp		3,369
	612	*	Axalta Coating Systems Ltd		11
	217,625	e	Ball Corp		14,072
	230,548		BASF SE		10,776
	310,968		BlueScope Steel Ltd		1,628
	292,602		Boliden AB		5,249
	83,968	*,e	Century Aluminum Co		304
	3,981		Christian Hansen Holding		294
	31,809	*	Clearwater Paper Corp		694
	231,534		CRH plc		6,261
	94,615		Croda International plc		4,992
	45,293		DSM NV		5,095
	456,232		DuPont de Nemours, Inc		15,557
	196,543		Ecolab, Inc		30,627
	185,123		Fletcher Building Ltd		385
	1,160,421	e	Fortescue Metals Group Ltd		7,111
	68,702		Franco-Nevada Corp		6,864
	3,439		Givaudan S.A.		10,582
	103,086		HeidelbergCement AG.		4,404
	204,900	e	Hitachi Metals Ltd		2,151
	15,680	e	International Flavors & Fragrances, Inc		1,601
	187,147		International Paper Co		5,826
	41,353		Johnson Matthey plc		911
	62,121	*	Kraton Corp		503
	267,141		Linde plc		46,215
	711,189	e	Lundin Mining Corp		2,673
	25,920	e	Minerals Technologies, Inc		940
	486,000		Mitsubishi Chemical Holdings Corp		2,886
	141,592		Mitsui Chemicals, Inc		2,665
	75,838		Mondi plc		1,280
	173,854		Mosaic Co		1,881
	438,614		Newcrest Mining Ltd		6,023
	178,126	e	Newmont Goldcorp Corp		8,066
	693,100		Nippon Steel Corp		5,908
	89,700		Nitto Denko Corp		3,984
	1,447,820		Norsk Hydro ASA		3,122
	270,475		Nucor Corp		9,742
	287,295		Nutrien Ltd (Toronto)		9,821
	4,188		Reliance Steel & Aluminum Co		367
	10,424		Schnitzer Steel Industries, Inc (Class A)		136

418

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	125,700		Shin-Etsu Chemical Co Ltd	$	12,355
	142,600		Showa Denko KK		2,926
	31,200		Sika AG.		5,123
	153,789	*	Stora Enso Oyj (R Shares)		1,538
	1,184,000		Sumitomo Chemical Co Ltd		3,498
	250,200		Sumitomo Metal Mining Co Ltd		5,115
	183,370	*	Summit Materials, Inc		2,751
	528,435		Teck Cominco Ltd		4,007
	9,000		Toray Industries, Inc		39
	29,019		Trinseo S.A.		525
	146,909		Umicore S.A.		5,067
	149,073	e	UPM-Kymmene Oyj		4,065
	40,659	*	US Concrete, Inc		738
	112,930		Voestalpine AG.		2,279
	73,753		Wheaton Precious Metals Corp		2,030
			TOTAL MATERIALS		323,615
MEDIA & ENTERTAINMENT - 3.1%
	257,775	*	Activision Blizzard, Inc		15,332
	75,017	*	Alphabet, Inc (Class A)		87,166
	75,097	*	Alphabet, Inc (Class C)		87,324
	6,511	e	Cable One, Inc		10,704
	132,197	e	Cinemark Holdings, Inc		1,347
	66,744	*	Clear Channel		43
	1,637,034		Comcast Corp (Class A)		56,281
	4,900		CyberAgent, Inc		190
	324,047	*,e	Discovery, Inc (Class A)		6,299
	501,529	*,e	Discovery, Inc (Class C)		8,797
	131,541	*	Electronic Arts, Inc		13,176
	93,869	*	Gray Television, Inc		1,008
	83,516	*	Imax Corp		756
	893,787		Informa plc		4,868
	1,902,885		ITV plc		1,562
	56,169		JC Decaux S.A.		999
	58,327		John Wiley & Sons, Inc (Class A)		2,187
	224,833	*	Liberty Broadband Corp (Class C)		24,894
	2,960	*	Liberty Global plc (Class A)		49
	7,192	*	Liberty Global plc (Class C)		113
	2,576	*,e	Live Nation, Inc		117
	5,583	*	Loral Space & Communications, Inc		91
	12,356	*	Madison Square Garden Co		2,612
	40,820		Marcus Corp		503
	82,058	e	New York Times Co (Class A)		2,520
	34,900		Nintendo Co Ltd		13,564
	390,180	e	Omnicom Group, Inc		21,421
	645,162		Pearson plc		4,417
	27,279	*,e	Roku, Inc		2,386
	21,480	*	Rosetta Stone, Inc		301
	549		Schibsted ASA (B Shares)		10
	35,469		Scholastic Corp		904
	43,926		Sinclair Broadcast Group, Inc (Class A)		706
	195,200	e	Sirius XM Holdings, Inc		964
	11,957	*,e	Snap, Inc		142
	20,531	*	Take-Two Interactive Software, Inc		2,435

419

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	31,353	e	TEGNA, Inc	$	340
	111,216	e	TripAdvisor, Inc		1,934
	1,095,624	*	Twitter, Inc		26,909
	39,073	e	World Wrestling Entertainment, Inc (Class A)		1,326
	766,310		WPP plc		5,210
			TOTAL MEDIA & ENTERTAINMENT		411,907
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.2%
	398,329		AbbVie, Inc		30,349
	72,319	*	Acadia Pharmaceuticals, Inc		3,056
	13,403	*,e	Acceleron Pharma, Inc		1,205
	95,309	*,e	Aerie Pharmaceuticals, Inc		1,287
	197,392		Agilent Technologies, Inc		14,137
	59,635	*,e	Agios Pharmaceuticals, Inc		2,116
	182,586	*	Akorn, Inc		102
	242,313		Amgen, Inc		49,124
	48,544	*,e	AnaptysBio, Inc		686
	49,057	*,e	Assembly Biosciences, Inc		728
	701,314		Astellas Pharma, Inc		10,805
	308,105		AstraZeneca plc		27,452
	12,200		AstraZeneca plc (ADR)		545
	78,220	*	Atara Biotherapeutics, Inc		666
	1,165,511	*,e	Aurora Cannabis, Inc		1,044
	7,622	*,e	Avrobio, Inc		119
	300,103	*	BioCryst Pharmaceuticals, Inc		600
	76,381	*	Biogen, Inc		24,165
	65,896	*	BioMarin Pharmaceutical, Inc		5,568
	60,106	*	Bluebird Bio, Inc		2,762
	933,824	e	Bristol-Myers Squibb Co		52,051
	197,271	*,e	Canopy Growth Corp (Toronto)		2,868
	3,503	*	Catalent, Inc		182
	107,197		Chugai Pharmaceutical Co Ltd		12,402
	64,616	*,e	Collegium Pharmaceutical, Inc		1,055
	200,078	*,e	Cronos Group, Inc		1,136
	107,774		CSL Ltd		19,536
	20,056	*,e	Cymabay Therapeutics, Inc		30
	91,300		Eisai Co Ltd		6,678
	370,922		Eli Lilly & Co		51,454
	5,911	*,e	Esperion Thereapeutics, Inc		186
	40,521	*,e	FibroGen, Inc		1,408
	39,409	*,e	Flexion Therapeutics, Inc		310
	488,067		Gilead Sciences, Inc		36,488
	67,537		H Lundbeck AS		1,983
	11,045	*	Halozyme Therapeutics, Inc		199
	62,923	*,e	Insmed, Inc		1,009
	34,337	*	Intersect ENT, Inc		407
	118,008	*,e	Intra-Cellular Therapies, Inc		1,814
	41,271	*,e	Iovance Biotherapeutics, Inc		1,235
	75,215	*	IQVIA Holdings, Inc		8,113
	35,394	*	Jazz Pharmaceuticals plc		3,530
	27,669		Lonza Group AG.		11,381
	84,332	*	MacroGenics, Inc		491
	883,643		Merck & Co, Inc		67,988
	87,319		Merck KGaA		8,816

420

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	7,502	*	Mettler-Toledo International, Inc	$	5,180
	2,060	*,e	Mirati Therapeutics, Inc		158
	426,861		Novo Nordisk AS		25,490
	46,500		Ono Pharmaceutical Co Ltd		1,069
	856,183	*,e	Opko Health, Inc		1,147
	19,372	*,e	Optinose, Inc		87
	1,883	*,e	Orion Oyj (Class B)		77
	54,175		Perrigo Co plc		2,605
	160,718	*	Progenics Pharmaceuticals, Inc		611
	83,235	*	Prothena Corp plc		891
	90,685	*,e	Revance Therapeutics, Inc		1,342
	145,888		Roche Holding AG.		46,938
	7,354	*,e	Sage Therapeutics, Inc		211
	103,278	*,e	Sangamo Therapeutics Inc		658
	272,481		Sanofi-Aventis		23,590
	77,500		Shionogi & Co Ltd		3,818
	154,400		Sumitomo Dainippon Pharma Co Ltd		2,004
	469,400		Takeda Pharmaceutical Co Ltd		14,292
	519,124	*,e	TherapeuticsMD, Inc		550
	30,109	*,e	Theravance Biopharma, Inc		696
	5,130	*,e	Tricida, Inc		113
	57,536		UCB S.A.		4,923
	36,233	*,e	Ultragenyx Pharmaceutical, Inc		1,610
	133,391	*	Vertex Pharmaceuticals, Inc		31,740
	4,804		Vifor Pharma AG.		657
	24,174	*	Waters Corp		4,401
	30,112	*,e	ZIOPHARM Oncology, Inc		74
	318,035		Zoetis, Inc		37,430
	10,152	*	Zogenix, Inc		251
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		681,879
REAL ESTATE - 2.1%
	59,252	e	Alexandria Real Estate Equities, Inc		8,121
	204,905		American Tower Corp		44,618
	99,276		Boston Properties, Inc		9,156
	864,886		British Land Co plc		3,607
	1,473,649		CapitaLand Ltd		2,953
	68,626		CatchMark Timber Trust, Inc		496
	99,320	*	CBRE Group, Inc		3,745
	22,344		Chatham Lodging Trust		133
	66,500		City Developments Ltd		337
	16,442		Coresite Realty		1,906
	44,542		Cousins Properties, Inc		1,304
	6,581	e	CyrusOne, Inc		406
	306,400		Daiwa House Industry Co Ltd		7,570
	155,597		Deutsche Wohnen AG.		5,897
	95,881		Duke Realty Corp		3,105
	41,460	e	Easterly Government Properties, Inc		1,022
	48,045		Equinix, Inc		30,007
	41,930		First Industrial Realty Trust, Inc		1,393
	31,038		Franklin Street Properties Corp		178
	539		Gecina S.A.		71
	231,048		Goodman Group		1,694
	2,028,000		Hang Lung Properties Ltd		4,090

421

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	278,555		Healthpeak Properties Inc	$	6,644
	236,404	e	Host Hotels and Resorts, Inc		2,610
	46,420	*,e	Howard Hughes Corp		2,345
	11,641	e	Hudson Pacific Properties		295
	248,000		Hulic Co Ltd		2,510
	25,011	e	Iron Mountain, Inc		595
	6,605		Jones Lang LaSalle, Inc		667
	98,487	e	Kimco Realty Corp		952
	126,605		Land Securities Group plc		873
	81,892		Lend Lease Corp Ltd		513
	1,026,900		Link REIT		8,655
	246,397	e	Macerich Co		1,387
	567,800		Mitsubishi Estate Co Ltd		8,386
	362,810		Mitsui Fudosan Co Ltd		6,282
	17		Nippon ProLogis REIT, Inc		43
	59,300		Nomura Real Estate Holdings, Inc		960
	63,633	e	Park Hotels & Resorts, Inc		503
	7,000		Piedmont Office Realty Trust, Inc		124
	471,174		Prologis, Inc		37,868
	19,529	e	QTS Realty Trust, Inc		1,133
	19,275	e	Realogy Holdings Corp		58
	15,556		Regency Centers Corp		598
	3,556		RMR Group, Inc		96
	19,104		Sabra Healthcare REIT, Inc		209
	59,663		SBA Communications Corp		16,107
	663,481		Segro plc		6,272
	536,500		Swire Pacific Ltd (Class A)		3,415
	1,257,600		Swire Properties Ltd		3,513
	78,053		UDR, Inc		2,852
	40,112	e	Unibail-Rodamco-Westfield		2,300
	47,539		Unibail-Rodamco-Westfield (Paris)		2,703
	6,419		Ventas, Inc		172
	270,554		Welltower, Inc		12,386
	388,511		Weyerhaeuser Co		6,585
			TOTAL REAL ESTATE		272,420
RETAILING - 3.3%
	33,170		Advance Auto Parts, Inc		3,095
	98,999	*	Amazon.com, Inc		193,020
	23,338		Best Buy Co, Inc		1,330
	86,913		Big Lots, Inc		1,236
	254,454	*	BJ’s Wholesale Club Holdings, Inc		6,481
	22,662	*	Booking Holdings, Inc		30,488
	107,622	e	Caleres, Inc		560
	22,794	*	CarMax, Inc		1,227
	60,139		eBay, Inc		1,808
	638		Expedia Group Inc		36
	17,200		Fast Retailing Co Ltd		7,018
	7,052	*	Five Below, Inc		496
	32,706	*,e	GameStop Corp (Class A)		114
	118,188	e	Gap, Inc		832
	36,196	*,e	Genesco, Inc		483
	25,864		Genuine Parts Co		1,741
	14,217	e	Haverty Furniture Cos, Inc		169

422

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	54,715	e	Hennes & Mauritz AB (B Shares)	$	700
	31,775	*,e	Hibbett Sports, Inc		347
	334,899		Home Depot, Inc		62,529
	332,136		Industria De Diseno Textil S.A.		8,607
	97,400		Jardine Cycle & Carriage Ltd		1,339
	24,346		Kering		12,694
	579,682		Kingfisher plc		1,018
	27,247	*,e	Lands’ End, Inc		146
	112,349	*	LKQ Corp		2,304
	315,752		Lowe’s Companies, Inc		27,170
	211,933	e	Macy’s, Inc		1,041
	38,743	*	MarineMax, Inc		404
	1,572,719		Marks & Spencer Group plc		1,907
	2,400	e	Marui Co Ltd		40
	165	*,e	MercadoLibre, Inc		81
	40,457		Next plc		2,030
	300		Nitori Co Ltd		41
	201		Pool Corp		40
	191,181	*	Prosus NV		13,315
	171,930	*	Quotient Technology, Inc		1,118
	296,000	*	Rakuten, Inc		2,232
	1,746	*,e	Sally Beauty Holdings, Inc		14
	15,085	e	Shoe Carnival, Inc		313
	241,474		Target Corp		22,450
	21,783		Tiffany & Co		2,821
	381,845		TJX Companies, Inc		18,256
	20,554		Tractor Supply Co		1,738
	23,011	*	Ulta Beauty, Inc		4,043
	219	*,e	Wayfair, Inc		12
	24,714	*,g	Zalando SE		931
			TOTAL RETAILING		439,815
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 1.8%
	450,177		Applied Materials, Inc		20,627
	55,000		ASM Pacific Technology		510
	101,120		ASML Holding NV		26,657
	29,888	*	Cirrus Logic, Inc		1,962
	49,186	*	Cree, Inc		1,744
	21,963	*,e	First Solar, Inc		792
	1,363,304		Intel Corp		73,782
	21,675		Lam Research Corp		5,202
	3,481		NVE Corp		181
	229,357		NVIDIA Corp		60,458
	19,797	*	Silicon Laboratories, Inc		1,691
	422,281		Texas Instruments, Inc		42,199
	43,300		Tokyo Electron Ltd		8,070
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		243,875
SOFTWARE & SERVICES - 5.4%
	297,575		Accenture plc		48,582
	177,620	*	Adobe, Inc		56,526
	110,117		Amadeus IT Holding S.A.		5,183
	78,098		Atos Origin S.A.		5,203
	136,158	*	Autodesk, Inc		21,254

423

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	235,083	*,e	Avaya Holdings Corp	$	1,902
	53,343	*	Benefitfocus, Inc		475
	21,974		Blackbaud, Inc		1,221
	147,514	*	Cadence Design Systems, Inc		9,742
	80,754		Cap Gemini S.A.		6,748
	118,984	*	CGI, Inc		6,442
	23,801	*	ChannelAdvisor Corp		173
	3,509		Computershare Ltd		21
	415,660	*,e	Conduent, Inc		1,018
	9,446	*	Coupa Software, Inc		1,320
	70,417	e	CSG Systems International, Inc		2,947
	69,838	*	ExlService Holdings, Inc		3,634
	1,443	*	Fair Isaac Corp		444
	100,400		Fujitsu Ltd		9,043
	414,880		International Business Machines Corp		46,023
	152,094		Intuit, Inc		34,982
	262,941	*	Limelight Networks, Inc		1,499
	108,638		LogMeIn, Inc		9,047
	1,760,855		Microsoft Corp		277,704
	149,081		NEC Corp		5,428
	108,810	*,e	New Relic, Inc		5,031
	193,200		Nomura Research Institute Ltd		4,081
	72,796	*,e	Nutanix, Inc		1,150
	17,208	*	OneSpan, Inc		312
	86,743	e	Open Text Corp		3,033
	1,800		Otsuka Corp		77
	3,745	*	Paylocity Holding Corp		331
	70,881	*	Perficient, Inc		1,920
	32,565	*,e	Qualys, Inc		2,833
	343,667	*	salesforce.com, Inc		49,481
	239,668		SAP AG.		26,758
	129,411	e	Science Applications International Corp		9,658
	33,967	*	Shopify, Inc (Class A) (Toronto)		14,231
	86,529	*	SPS Commerce, Inc		4,024
	88,142	*	SVMK, Inc		1,191
	76,670	*	Sykes Enterprises, Inc		2,079
	245,910	*	Teradata Corp		5,039
	82,173		TiVo Corp		582
	24,445		TTEC Holdings, Inc		898
	58,243	*	Virtusa Corp		1,654
	85,250	*,e	VMware, Inc (Class A)		10,324
	95,656	*	WEX, Inc		10,001
	31,256	*,g	Worldline S.A.		1,845
	37,590	*,e	Zendesk, Inc		2,406
			TOTAL SOFTWARE & SERVICES		715,500
TECHNOLOGY HARDWARE & EQUIPMENT - 3.1%
	8,409	*	Anixter International, Inc		739
	970,975		Apple, Inc		246,909
	148,759	*,e	Arlo Technologies, Inc		362
	4,043	e	Belden CDT, Inc		146
	53,613		Benchmark Electronics, Inc		1,072
	1,376,572		Cisco Systems, Inc		54,113
	33,384		CTS Corp		831

424

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	39,009		Daktronics, Inc	$	192
	128,760		Dolby Laboratories, Inc (Class A)		6,980
	4,418	*	Fabrinet		241
	25,626	*,e	FARO Technologies, Inc		1,140
	1,568,003		Hewlett Packard Enterprise Co		15,225
	24,600		Hitachi High-Technologies Corp		1,817
	466,615		HP, Inc		8,100
	20,660	*	Insight Enterprises, Inc		870
	9,147	*,e	Itron, Inc		511
	93,108	e	Kemet Corp		2,250
	52,274		Keyence Corp		16,807
	32,212	*	Keysight Technologies, Inc		2,696
	34,382	*	Kimball Electronics, Inc		375
	248,200		Konica Minolta Holdings, Inc		1,000
	170,300		Kyocera Corp		10,050
	16,824		Littelfuse, Inc		2,245
	8,736		Methode Electronics, Inc		231
	66,742		Motorola Solutions, Inc		8,871
	179,900		Murata Manufacturing Co Ltd		8,944
	49,843		National Instruments Corp		1,649
	26,169	*	Novanta, Inc		2,090
	57,800		Omron Corp		2,988
	5,055	*	OSI Systems, Inc		348
	64,222	*	Ribbon Communications, Inc		195
	15,267	*,e	Rogers Corp		1,442
	5,800		Shimadzu Corp		151
	20,007		Synnex Corp		1,463
	4,348		TE Connectivity Ltd		274
	54,261	*	Tech Data Corp		7,100
	125,861	*,e	TTM Technologies, Inc		1,301
	109,319		Vishay Intertechnology, Inc		1,575
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		413,293
TELECOMMUNICATION SERVICES - 1.4%
	40,702	*,e	Boingo Wireless, Inc		432
	5,699,912		BT Group plc		8,291
	88,553		Cogent Communications Group, Inc		7,259
	106,713	*,e	Gogo, Inc		226
	792,000		HKT Trust and HKT Ltd		1,077
	216,941	*,e	Iridium Communications, Inc		4,844
	554,032		KDDI Corp		16,365
	56,788		Millicom International Cellular S.A.		1,578
	477,000		NTT DoCoMo, Inc		14,917
	921,525		Orange S. A.		11,157
	195,980	*	ORBCOMM, Inc		478
	1,599,000		PCCW Ltd		877
	185,118		Rogers Communications, Inc (Class B)		7,727
	536,300	e	Singapore Telecommunications Ltd		957
	3,479,100		Singapore Telecommunications Ltd		6,202
	411,700	e	Softbank Corp		5,245
	98,692	*,e	Sprint Corp		851
	2,271	e	Swisscom AG.		1,216
	2,071		Tele2 AB (B Shares)		28
	658,563		Telefonica Deutschland Holding AG.		1,617

425

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	230,397		Telenor ASA	$	3,367
	394,360	e	TeliaSonera AB		1,412
	1,262,209		Telstra Corp Ltd		2,369
	14,204		TELUS Corp		225
	1,335,734		Verizon Communications, Inc		71,769
	9,265,349		Vodafone Group plc		12,818
			TOTAL TELECOMMUNICATION SERVICES		183,304
TRANSPORTATION - 1.4%
	109,900	e	All Nippon Airways Co Ltd		2,678
	5,676	e	Amerco, Inc		1,649
	62,470		ArcBest Corp		1,094
	143,974		Auckland International Airport Ltd		429
	2,308	*,e	Avis Budget Group, Inc		32
	217,872		Canadian National Railway Co		17,034
	68,200		Central Japan Railway Co		10,931
	58,515	e	CH Robinson Worldwide, Inc		3,874
	511,259		CSX Corp		29,295
	205,596		Delta Air Lines, Inc		5,866
	380,559		Deutsche Post AG.		10,202
	130,100		East Japan Railway Co		9,845
	168,135		easyJet plc		1,165
	57,413	*	Echo Global Logistics, Inc		981
	18,939		Fraport AG. Frankfurt Airport Services Worldwide		762
	75,281		Getlink S.E.		911
	18,300		Hankyu Hanshin Holdings, Inc		615
	55,864	*,e	Hertz Global Holdings, Inc		345
	4,304		Kansas City Southern		547
	723		Kuehne & Nagel International AG.		98
	459		Landstar System, Inc		44
	1,498,364		MTR Corp		7,707
	115,378		Nippon Yusen Kabushiki Kaisha		1,363
	135,051		Norfolk Southern Corp		19,717
	98,900	e	Singapore Airlines Ltd		401
	238,294		Southwest Airlines Co		8,486
	312,070		Sydney Airport		1,078
	1,279,550	e	Transurban Group		9,531
	360,885		United Parcel Service, Inc (Class B)		33,714
	200		West Japan Railway Co		14
			TOTAL TRANSPORTATION		180,408
UTILITIES - 2.2%
	161,542		AltaGas Ltd		1,464
	343,939		American Electric Power Co, Inc		27,508
	1,430	e	American Water Works Co, Inc		171
	500,415		APA Group		3,176
	167,133		Centerpoint Energy, Inc		2,582
	704,500		CLP Holdings Ltd		6,453
	701	e	CMS Energy Corp		41
	246,931		Consolidated Edison, Inc		19,261
	151,552		Dominion Energy Inc		10,941
	25,618	e	DTE Energy Co		2,433
	58,257		Enagas		1,149
	2,351,453		Enel S.p.A.		16,220

426

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

SHARES			COMPANY	VALUE (000)
	171,978		Energias de Portugal S.A.	$	692
	178,457		Eversource Energy		13,957
	101,463		Fortis, Inc		3,913
	5,412,461		Hong Kong & China Gas Ltd		8,863
	1,497,062		Iberdrola S.A.		14,643
	374,700	e	Kyushu Electric Power Co, Inc		3,005
	626,819		Meridian Energy Ltd		1,496
	1,229,677		National Grid plc		14,368
	286,392	e	Naturgy Energy Group S.A.		5,024
	48,759		New Jersey Resources Corp		1,656
	3,431	e	ONE Gas, Inc		287
	105,117	g	Orsted AS		10,291
	276,471	e	Public Service Enterprise Group, Inc		12,416
	544,342		Scottish & Southern Energy plc		8,747
	244,491	e	Sempra Energy		27,625
	62,243	e	South Jersey Industries, Inc		1,556
	677,740		Southern Co		36,693
	609,523		Terna Rete Elettrica Nazionale S.p.A.		3,831
	181,100		Tokyo Gas Co Ltd		4,267
	36,029	e	UGI Corp		961
	139,082	e	WEC Energy Group, Inc		12,257
	241,447	e	Xcel Energy, Inc		14,559
			TOTAL UTILITIES		292,506
			TOTAL COMMON STOCKS		7,447,917
			(Cost $7,341,060)
SHARES			COMPANY
PREFERRED STOCKS - 0.2%
BANKS - 0.1%
	233,115	*,e	Federal Home Loan Mortgage Corp		1,420
	740,991	*,e	Federal National Mortgage Association		4,690
			TOTAL BANKS		6,110
REAL ESTATE - 0.1%
	390,000	*,e	Brookfield Property Partners LP		6,217
	695,000	*	Brookfield Property Partners LP		9,730
			TOTAL REAL ESTATE		15,947
UTILITIES - 0.0%
	308,000	*,e	Brookfield Renewable Partners LP		6,000
			TOTAL UTILITIES		6,000
			TOTAL PREFERRED STOCKS		28,057
			(Cost $59,177)
RIGHTS / WARRANTS - 0.0%
MEDIA & ENTERTAINMENT - 0.0%
	38,808	†	Media General, Inc		0	^
			TOTAL MEDIA & ENTERTAINMENT		0	^
			TOTAL RIGHTS / WARRANTS		0	^
			(Cost $0)

427

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 5.1%
GOVERNMENT AGENCY DEBT - 3.3%
$	23,000,000		Federal Farm Credit Bank (FFCB)		0.030	%	09/28/20	$	22,985
	5,000,000		FFCB		0.100		11/20/20		4,996
	2,000,000		Federal Home Loan Bank (FHLB)		0.350		04/02/20		2,000
	12,500,000		FHLB		0.001 - 0.450		04/03/20		12,500
	20,590,000		FHLB		0.500		04/14/20		20,589
	1,195,000		FHLB		0.000 - 0.005		04/24/20		1,195
	5,000,000		FHLB		0.040		05/26/20		4,999
	12,037,000		FHLB		0.001 - 1.570		05/29/20		12,036
	11,400,000		FHLB		0.030 - 0.170		06/24/20		11,398
	10,000,000		FHLB		0.120		06/29/20		9,998
	10,000,000		FHLB		0.120		07/09/20		9,998
	16,380,000		FHLB		0.010 - 0.200		07/20/20		16,376
	6,220,000		FHLB		0.125		07/22/20		6,218
	25,000,000		FHLB		0.130		07/24/20		24,993
	20,000,000		FHLB		0.030		07/27/20		19,994
	35,036,000		FHLB		0.150		07/31/20		35,025
	21,900,000		FHLB		0.030 - 0.270		09/15/20		21,887
	20,000,000		FHLB		0.060		10/01/20		19,986
	70,435,000		FHLB		0.070		10/13/20		70,382
	15,000,000		FHLB		0.100		01/19/21		14,980
	10,000,000		FHLB		0.120		02/16/21		9,986
	15,000,000		FHLB		0.170		03/08/21		14,976
	5,873,000		Federal Home Loan Mortgage Corp (FHLMC)		0.030		07/17/20		5,871
	10,000,000		FHLMC		0.050		10/19/20		9,992
	20,000,000		Federal National Mortgage Association (FNMA)		0.200		10/16/20		19,985
	10,000,000		FNMA		0.080		11/13/20		9,991
	25,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.010		04/01/20		25,000
	3,000,000		FAMC		0.010		07/29/20		2,999
			TOTAL GOVERNMENT AGENCY DEBT						441,335
SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 1.8%
	234,981,932	c	State Street Navigator Securities Lending Government Money Market Portfolio						234,982
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES						234,982
			TOTAL SHORT-TERM INVESTMENTS						676,317
			(Cost $676,333)
			TOTAL INVESTMENTS - 101.4%						13,438,080
			(Cost $13,258,536)
			OTHER ASSETS & LIABILITIES, NET - (1.4)%						(189,343	)
			NET ASSETS - 100.0%					$	13,248,737

428

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

	Abbreviation(s):
ADR	American Depositary Receipt
EUR	Euro
LIBOR	London Interbank Offered Rate
M	Month
OTC	Over The Counter
REIT	Real Estate Investment Trust
SOFR	Secured 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 $287,897,987.
g	Security is exempt from registration under Rule 144(A) of the Securities Act of 1933, as amended. Such securities are deemed liquid and may be resold in transactions exempt from registration to qualified institutional buyers. At 3/31/20, the aggregate value of these securities is $1,300,157,271 or 9.8% 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.

Futures contracts outstanding as of March 31, 2020 were as follows (notional amounts and values are in thousands):

Description	Number of long (short) contracts		Expiration date	Notional amount		Value		Unrealized appreciation (depreciation)
US 5 Year Note (CBT)		5	06/30/20	$	627	$	627	$	0	^

^ Amount represents less than $1,000.

Forward foreign currency contracts outstanding as of March 31, 2020 were as follows (dollar amounts are in thousands):

Currency to be purchased	Receive	Currency to be sold	Deliver	Counterparty	Settlement date	Unrealized appreciation (depreciation)
$	7,150	EUR	6,490	Bank of America	06/30/20	$	(33)

	Abbreviation(s):
EUR	Euro

429

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 March 31, 2020, 100% of the value of investments in the Inflation-Linked Bond Account was valued based on Level 2 inputs.

The following table summarizes the market value of the Accounts’ investments as of March 31, 2020, based on the inputs used to value them (dollar amounts are in thousands):

Account	Level 1			Level 2		Level 3		Total
Stock
Government bonds	$	—		$	50,351	$	—	$	50,351
Equity investments:
Communication services		6,384,901			1,776,378		272		8,161,551
Consumer discretionary		6,852,698			2,568,333		567		9,421,598
Consumer staples		4,387,323			2,600,752		3,980		6,992,055
Energy		1,432,407			1,023,445		676		2,456,528
Financials		7,290,378			4,411,439		362		11,702,179
Health care		9,740,449			2,986,470		133		12,727,052
Industrials		5,570,043			2,852,576		1,193		8,423,812
Information technology		15,448,068			3,068,971		17		18,517,056
Materials		1,662,479			1,868,657		37		3,531,173
Real estate		2,142,097			1,168,656		7,709		3,318,462
Utilities		2,156,971			924,009		—		3,080,980
Short-term investments		—			1,909,100		—		1,909,100
Purchased options**		442			—		—		442
Written options**		(2,340	)		—		—		(2,340	)
Futures contracts**		(36,852	)		—		—		(36,852	)
Forward foreign currency contracts**		—			3,590		—		3,590
Total	$	63,029,064		$	27,212,727	$	14,946	$	90,256,737

430

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

Account	Level 1			Level 2			Level 3		Total
Global Equities
Equity investments:
Asia	$	369,483		$	2,109,907		$	38	$	2,479,428
Europe		70,559			2,325,737			—		2,396,296
North America		8,768,209			302,337			—		9,070,546
All other equity investments*		176,698			1,777,378			16		1,954,092
Short-term investments		—			132,606			—		132,606
Purchased options**		18			—			—		18
Written options**		(973	)		—			—		(973	)
Futures contracts**		(528	)		—			—		(528	)
Total	$	9,383,466		$	6,647,965		$	54	$	16,031,485
Growth
Equity investments:
Communication services	$	3,089,554		$	255,482		$	—	$	3,345,036
Consumer discretionary		3,306,398			313,038			—		3,619,436
Consumer staples		1,015,464			74,454			—		1,089,918
Health care		3,127,497			732,811			—		3,860,308
Industrials		1,343,995			115,567			—		1,459,562
Information technology		8,254,454			212,471			—		8,466,925
All other equity investments*		1,180,512			—			—		1,180,512
Short-term investments		356,551			193,813			—		550,364
Total	$	21,674,425		$	1,897,636		$	—	$	23,572,061
Equity Index
Equity investments:
Financials	$	1,745,991		$	—		$	5	$	1,745,996
Health care		2,389,931			—			38		2,389,969
All other equity investments*		11,159,310			—			—		11,159,310
Short-term investments		437,458			151,373			—		588,831
Futures contracts**		3,506			—			—		3,506
Total	$	15,736,196		$	151,373		$	43	$	15,887,612
Bond Market
Bank loan obligations	$	—		$	83,275		$	883	$	84,158
Corporate bonds		—			4,935,464			20		4,935,484
Government bonds		—			5,458,216			2,104		5,460,320
Structured assets		—			2,861,085			775		2,861,860
Common stocks		65			—			—		65
Preferred stocks		12,532			—			—		12,532
Short-term investments		—			436,395			—		436,395
Futures contracts**		16			—			—		16
Forward foreign currency contracts**		—			(1,699	)		—		(1,699	)
Credit default swap contracts**		—			452			—		452
Total	$	12,613		$	13,773,188		$	3,782	$	13,789,583

431

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

Account	Level 1		Level 2			Level 3		Total
Social Choice
Bank loan obligations	$	—	$	9,967		$	3,353	$	13,320
Corporate bonds		—		2,172,100			—		2,172,100
Government bonds		—		2,582,787			502		2,583,289
Structured assets		—		515,702			1,378		517,080
Equity investments:									—
Communication services		466,947		128,264			—		595,211
Consumer discretionary		575,135		235,188			—		810,323
Consumer staples		351,115		264,110			—		615,225
Energy		134,540		101,104			—		235,644
Financials		667,851		404,941			3		1,072,795
Health care		809,508		272,074			—		1,081,582
Industrials		500,422		281,618			—		782,040
Information technology		1,207,580		165,087			—		1,372,667
Materials		141,701		181,914			—		323,615
Real estate		215,723		72,643			—		288,366
Utilities		190,905		107,601			—		298,506
Short-term investments		234,982		441,335			—		676,317
Forward foreign currency contracts**		—		(33	)		—		(33	)
Total	$	5,496,409	$	7,936,402		$	5,236	$	13,438,047

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

432