COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2020

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
BONDS - 0.0%
GOVERNMENT BONDS - 0.0%
U.S. TREASURY SECURITIES - 0.0%
$	300,000		United States Treasury Note		1.750	%	05/15/22	$	308
			TOTAL U.S. TREASURY SECURITIES						308
			TOTAL GOVERNMENT BONDS						308
			(Cost $301)
			TOTAL BONDS						308
			(Cost $301)
SHARES			COMPANY
COMMON STOCKS - 98.7%
AUTOMOBILES & COMPONENTS - 1.7%
	16,427		AB Dynamics plc						393
	259,370	*	Adient plc						4,495
	35,775		Aisan Industry Co Ltd						160
	542,763		Aisin Seiki Co Ltd						17,365
	173,734	*	American Axle & Manufacturing Holdings, Inc						1,002
	239,408		Apollo Tyres Ltd						425
	761,838		Aptiv plc						69,845
	78,220		ARB Corp Ltd						1,563
	1,026,673	*,e,g	Aston Martin Lagonda Global Holdings plc						675
	3,170	e	Autoneum Holding AG.						390
	99,800	*	BAIC BluePark New Energy Technology Co Ltd						87
	997,500	g	BAIC Motor Corp Ltd						408
	76,338		Bajaj Holdings and Investment Ltd						2,984
	82,992		Balkrishna Industries Ltd						1,664
	973,126		Bayerische Motoren Werke AG.						70,627
	2,228		Bayerische Motoren Werke AG. (Preference)						122
	535,204		Bharat Forge Ltd						3,258
	36,031		BorgWarner, Inc						1,396
	2,732		Bosch Ltd						509
	173,367	e	Brembo S.p.A						1,734
	385,427		Bridgestone Corp						12,183
	1,450,235		Brilliance China Automotive Holdings Ltd						1,371
	60,400		BYD Co Ltd						1,038
	2,041,262	e	BYD Co Ltd (H shares)						32,918
	17,852		Ceat Ltd						242
	6,100		Changzhou Xingyu Automotive Lighting Systems Co Ltd						135
	1,082,554		Chaowei Power Holdings Ltd						402
	908,009		Cheng Shin Rubber Industry Co Ltd						1,162
	209,791		China Motor Corp						306
	78,100		Chongqing Changan Automobile Co Ltd						155
	79,921		Cie Automotive S.A.						1,508
	65,358		Compagnie Plastic-Omnium S.A.						1,727
	84,773		Continental AG.						9,187

1

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	81,839		Cooper Tire & Rubber Co	$	2,594
	32,453	*	Cooper-Standard Holding, Inc		429
	56,847		Cub Elecparts, Inc		317
	39,700		Daido Metal Co Ltd		193
	41,700	e	Daikyonishikawa Corp		222
	128,153		Daimler AG. (Registered)		6,913
	235,470		Dana Inc		2,901
	413,219		Denso Corp		18,112
	92,000		Depo Auto Parts Ind Co Ltd		150
	329,036	g	Dometic Group AB		4,062
	1,407,187		Dongfeng Motor Group Co Ltd		880
	35,784	*	Dorman Products, Inc		3,234
	2,799,068		Drb-Hicom BHD		1,413
	27,700		Eagle Industry Co Ltd		209
	552,005		Eicher Motors Ltd		16,481
	32,275	*,e	ElringKlinger AG.		249
	29,899	g	Endurance Technologies Ltd		467
	37,082		Exedy Corp		483
	189,020		Exide Industries Ltd		423
	10,090		Faurecia		435
	36,000		FCC Co Ltd		664
	106,004		Ferrari NV		19,454
	164,350		Fiat DaimlerChrysler Automobiles NV		2,017
	6,297,447		Ford Motor Co		41,941
	35,696		Ford Otomotiv Sanayi AS		404
	48,137	*,e	Fox Factory Holding Corp		3,578
	537,732		Fuji Heavy Industries Ltd		10,439
	60,480		Futaba Industrial Co Ltd		309
	66,600		Fuyao Glass Industry Group Co Ltd		318
	280,800	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)		1,035
	12,126,302		Geely Automobile Holdings Ltd		24,326
	1,743,473		General Motors Co		51,589
	722,689	*,†,e	General Motors Co		0
	24,057,000	*,†	General Motors Co		0
	26,439,191	*,†	General Motors Co		0
	6,062,000	*,†	General Motors Co		0
	85,268,000	*,†,e	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
	7,950,000	*,†	General Motors Co		0
	4,230,271	*,†,e	General Motors Co		0
	36,375		Gentex Corp		937
	78,567	*	Gentherm, Inc		3,213
	195,228	e,g	Gestamp Automocion S.A.		565
	18,329		Global & Yuasa Battery Co Ltd		433
	35,000		Global PMX Co Ltd		204
	374,225		Goodyear Tire & Rubber Co		2,870
	2,313,089		Great Wall Motor Co Ltd		2,951
	24,700	e	G-Tekt Corp		282
	1,470,165		Guangzhou Automobile Group Co Ltd (Hong Kong)		1,233
	98,560		GUD Holdings Ltd		808
	6,877		Halla Holdings Corp		183
	34,621		Hankook Tire Co Ltd		933
	89,350		Hanon Systems		943
	282,861		Harley-Davidson, Inc		6,941

2

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	129,105		Hero Honda Motors Ltd	$	5,511
	1,306,190		Honda Motor Co Ltd		31,018
	1,053,990		Hota Industrial Manufacturing Co Ltd		3,482
	67,400		Huayu Automotive Systems Co Ltd		248
	63,795		Hyundai Mobis		12,516
	108,850		Hyundai Motor Co		16,580
	18,605		Hyundai Motor Co Ltd (2nd Preference)		1,404
	11,233		Hyundai Motor Co Ltd (Preference)		811
	14,711		Hyundai Wia Corp		509
	32,500		Ichikoh Industries Ltd		143
	10,356		Indus Motor Co Ltd		80
	387,751		Isuzu Motors Ltd		3,391
	20,096		Kayaba Industry Co Ltd		417
	45,706		Keihin Corp		1,124
	478,874		Kenda Rubber Industrial Co Ltd		490
	132,498		Kia Motors Corp		5,313
	73,487	*	Koito Manufacturing Co Ltd		3,750
	82,010	*	Kumho Tire Co, Inc		258
	48,149		LCI Industries, Inc		5,118
	9,948		Lear Corp		1,085
	35,007	*,e	Leoni AG.		207
	108,745		Linamar Corp		3,235
	269,180		Magna International, Inc		12,317
	1,730,642		Mahindra & Mahindra Ltd		14,308
	79,597	*	Mahindra CIE Automotive Ltd		146
	35,812		Mahle-Metal Leve S.A. Industria e Comercio		108
	128,301		Mando Corp		3,905
	165,991		Martinrea International, Inc		1,188
	138,241		Maruti Suzuki India Ltd		12,673
	399,782		Mazda Motor Corp		2,345
	10,658		MGI Coutier		212
	592,014		Michelin (C.G.D.E.) (Class B)		63,551
	60,441		Minda Industries Ltd		271
	834,179		Minth Group Ltd		3,643
	471,563	e	Mitsubishi Motors Corp		1,041
	170,039	*	Modine Manufacturing Co		1,063
	483,385		Motherson Sumi Systems Ltd		757
	29,786	*	Motorcar Parts of America, Inc		463
	51,238		Musashi Seimitsu Industry Co Ltd		542
	383,949		Nan Kang Rubber Tire Co Ltd		567
	34,782		Nexen Tire Corp		159
	2,803,000	e	Nexteer Automotive Group Ltd		1,964
	109,920		NGK Spark Plug Co Ltd		1,919
	233,715	*	NHK Spring Co Ltd		1,496
	94,412		Nifco, Inc		2,579
	21,800		Ningbo Joyson Electronic Corp		71
	51,600		Ningbo Tuopu Group Co Ltd		305
	1,005,216	*	NIO, Inc (ADR)		21,331
	48,253		Nippon Seiki Co Ltd		528
	1,632,316	*	Nissan Motor Co Ltd		5,773
	71,210	e	Nissan Shatai Co Ltd		625
	45,810		Nissin Kogyo Co Ltd		976
	26,927	*,e	Niu Technologies (ADR)		517
	93,288		NOK Corp		973
	146,548	e	Nokian Renkaat Oyj		4,143
	44,700		Pacific Industrial Co Ltd		411

3

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	336,764	e	Peugeot S.A.	$	6,107
	644,339		Piaggio & C S.p.A.		1,741
	30,994		Piolax Inc		461
	377,426	g	Pirelli & C S.p.A		1,617
	450,640		Porsche AG.		26,809
	101,954		Press Kogyo Co Ltd		290
	121,500		Prinx Chengshan Cayman Holding Ltd		127
	81,284,707		PT Astra International Tbk		24,474
	1,845,100		PT Selamat Sempurna Tbk		148
	662,830		Qingling Motors Co Ltd		116
	297,248		Renault S.A.		7,711
	8,961		Riken Corp		231
	63,217		S&T Daewoo Co Ltd		2,749
	247,200		SAIC Motor Corp Ltd		697
	453,920		Sanyang Industry Co Ltd		352
	42,200		Shandong Linglong Tyre Co Ltd		182
	24,600		Shoei Co Ltd		817
	55,537		Showa Corp		1,208
	13,539		SL Corp		164
	848,754		Sri Trang Agro-Industry PCL (Foreign)		714
	54,371		Standard Motor Products, Inc		2,428
	91,835		Stanley Electric Co Ltd		2,647
	178,435	*	Stoneridge, Inc		3,278
	530,293		Sumitomo Electric Industries Ltd		5,970
	120,259		Sumitomo Rubber Industries, Inc		1,117
	42,052		Sundram Fasteners Ltd		229
	522,424		Suzuki Motor Corp		22,380
	29,600		Tachi-S Co Ltd		274
	7,885,851	*	Tata Motors Ltd		14,308
	1,143,996	*,e	Tata Motors Ltd (ADR)		10,399
	26,400		Teikoku Piston Ring Co Ltd		322
	88,955	*	Tenneco, Inc		617
	1,455,398	*,e	Tesla, Inc		624,380
	88,111		Thor Industries, Inc		8,393
	264,557	e,g	TI Fluid Systems plc		525
	2,333,118	e	Tianneng Power International Ltd		4,192
	54,847		Tokai Rika Co Ltd		820
	41,417	e	Tokai Rubber Industries, Inc		222
	322,699		Tong Yang Industry Co Ltd		402
	36,568		Topre Corp		395
	246,125	e	Toyo Tire & Rubber Co Ltd		3,987
	45,750		Toyoda Gosei Co Ltd		1,050
	76,695		Toyota Boshoku Corp		1,087
	103,078		Toyota Industries Corp		6,527
	3,713,120		Toyota Motor Corp		246,440
	9,796		Trigano S.A.		1,513
	46,400		TS Tech Co Ltd		1,312
	66,656		Tube Investments of India Ltd		547
	59,883		Tupy S.A.		185
	241,400		UMW Holdings BHD		146
	40,500		Unipres Corp		331
	1,078,083		Valeo S.A.		33,106
	22,593	*,e	Visteon Corp		1,564
	40,905		Volkswagen AG.		7,150
	24,666		Volkswagen AG. (Preference)		3,969

4

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	16,900		Weifu High-Technology Group Co Ltd	$	63
	102,074		Winnebago Industries, Inc		5,274
	154,872	*,e	Workhorse Group, Inc		3,915
	712,907		Xingda International Holdings Ltd		176
	2,049,712		Xinyi Glass Holdings Co Ltd		4,145
	27,613	*,e	XPEL, Inc		720
	98,490	*	XPeng, Inc (ADR)		1,977
	1,008,000	g	Yadea Group Holdings Ltd		1,489
	234,974		Yamaha Motor Co Ltd		3,414
	83,370		Yokohama Rubber Co Ltd		1,187
	18,200		Yorozu Corp		182
	835,000		Yulon Motor Co Ltd		667
	315,200		Zhejiang Century Huatong Group Co Ltd		443
			TOTAL AUTOMOBILES & COMPONENTS		1,852,312
BANKS - 4.9%
	6,996	e	1st Constitution Bancorp		83
	41,684		1st Source Corp		1,286
	60,403	e	77 Bank Ltd		933
	65,415		Aareal Bank AG.		1,317
	26,786	*	Aavas Financiers Ltd		521
	1,419,665	g	ABN AMRO Group NV (ADR)		11,868
	359,619		Absa Group Ltd		1,905
	1,369,254		Abu Dhabi Commercial Bank PJSC		2,113
	5,988		ACNB Corp		125
	27,172,649		Agricultural Bank of China Ltd		8,526
	4,158,200		Agricultural Bank of China Ltd (Class A)		1,939
	32,199,843		AIB Group plc		33,033
	8,547		Aichi Bank Ltd		247
	2,933,494	*	Akbank TAS		1,932
	16,300	e	Akita Bank Ltd		245
	55,991		Aktia Bank Oyj		606
	1,667,962		Al Rajhi Bank		29,235
	925,115		Alinma Bank		4,037
	84,738	*	Alior Bank S.A.		294
	35,516	e	Allegiance Bancshares, Inc		830
	924,200		Alliance Financial Group BHD		488
	1,353,846	*	Alpha Bank AE		819
	28,622		Altabancorp		576
	315,270	*,†	Amagerbanken AS		0
	51,479		Amalgamated Bank		545
	38,224	*,e	Amerant Bancorp Inc		356
	9,204	e	American National Bankshares, Inc		193
	128,448	e	Ameris Bancorp		2,926
	7,107		Ames National Corp		120
	1,678,386		AMMB Holdings BHD		1,215
	22,400	e	Aomori Bank Ltd		534
	123,949	e	Aozora Bank Ltd		2,058
	551,583		Arab National Bank		2,994
	19,201	e	Arrow Financial Corp		482
	38,580	e	Aruhi Corp		682
	649,442		Ashikaga Holdings Co Ltd		1,474
	19,364		Associated Banc-Corp		244
	91,288	*,e	Atlantic Capital Bancshares, Inc		1,036

5

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	127,276	e	Atlantic Union Bankshares Corp	$	2,720
	73,857	g	AU Small Finance Bank Ltd		654
	2,071	e	Auburn National Bancorporation, Inc		75
	3,472,580		Australia & New Zealand Banking Group Ltd		43,324
	34,444	e	Awa Bank Ltd		848
	2,152,738		Axis Bank Ltd		12,459
	135,607	*,e	Axos Financial, Inc		3,161
	69,213		Banc of California, Inc		700
	321,980	*,e	Banca Monte dei Paschi di Siena S.p.A		524
	1,826,882	e	Banca Popolare dell’Emilia Romagna Scrl		4,255
	509,331	e	Banca Popolare di Sondrio SCARL		1,067
	29,718	e	Bancfirst Corp		1,214
	82,328		Banco ABC Brasil S.A.		172
	837	*	Banco ABC Brasil S.A.		2
	66,511	e	Banco BBVA Argentina S.A. (ADR)		168
	886,230		Banco Bilbao Vizcaya Argentaria S.A.		2,460
	1,602,425	e	Banco BPM S.p.A.		2,710
	1,254,191	*	Banco Bradesco S.A.		4,024
	4,290,644	*	Banco Bradesco S.A. (Preference)		14,830
	45,580,887	e	Banco Comercial Portugues S.A.		4,296
	42,886,383		Banco de Chile		3,273
	46,179		Banco de Credito e Inversiones		1,460
	3,698,574		Banco de Oro Universal Bank		6,600
	6,186,562		Banco de Sabadell S.A.		2,147
	734,074	e,g	Banco del Bajio S.A.		550
	3,446,684		Banco do Brasil S.A.		18,179
	220,920		Banco do Estado do Rio Grande do Sul		469
	16,063,377	*,†	Banco Espirito Santo S.A.		188
	842,717		Banco Inter S.A.		8,145
	11,247,447	*	Banco Itau Holding Financeira S.A.		45,063
	44,612		Banco Macro S.A. (ADR) (Class B)		638
	1,889,701		Banco Pan S.A.		2,732
	394,948		Banco Santander Brasil S.A.		1,966
	62,054,265		Banco Santander Chile S.A.		2,159
	2,208,720		Banco Santander S.A. (AQXE)		4,120
	251,106		BanColombia S.A.		1,593
	430,004		BanColombia S.A. (Preference)		2,775
	182,065		BancorpSouth Bank		3,528
	674,079	g	Bandhan Bank Ltd		2,517
	532,200		Bangkok Bank PCL (Foreign)		1,620
	338,113		Bank AlBilad		2,183
	663,372		Bank Alfalah Ltd		140
	427,403		Bank Al-Jazira		1,600
	5,534	e	Bank First Corp		325
	36,457	*	Bank Handlowy w Warszawie S.A.		346
	270,920		Bank Hapoalim Ltd		1,448
	343,104		Bank Leumi Le-Israel		1,510
	641,452	*	Bank Millennium S.A.		459
	17,452,858		Bank of America Corp		420,439
	1,223,800		Bank of Beijing Co Ltd		843
	131,380		Bank of Chengdu Co Ltd		191
	1,985,200		Bank of China Ltd		935
	77,115,572		Bank of China Ltd (Hong Kong)		23,984
	14,096		Bank of Commerce Holdings		98

6

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,484,600		Bank of Communications Co Ltd	$	1,659
	8,608,846		Bank of Communications Co Ltd (Hong Kong)		4,149
	1,221,783		Bank of East Asia Ltd		2,255
	42,640		Bank of Georgia Group plc		490
	298,200		Bank of Hangzhou Co Ltd		517
	5,785	e	Bank of Hawaii Corp		292
	38,799,561		Bank of Ireland Group plc		71,933
	15,559		Bank of Iwate Ltd		376
	685,800		Bank of Jiangsu Co Ltd		614
	610,394		Bank of Kaohsiung		209
	190,824		Bank of Kyoto Ltd		9,226
	43,227		Bank of Marin Bancorp		1,252
	450,837	e	Bank of Montreal		26,355
	13,310	e	Bank of Nagoya Ltd		324
	567,000		Bank of Nanjing Co Ltd		659
	340,657		Bank of Ningbo Co Ltd		1,581
	1,127,706	e	Bank of Nova Scotia		46,851
	298,705		Bank of NT Butterfield & Son Ltd		6,655
	23,200	e	Bank of Okinawa Ltd		694
	4,737		Bank of Princeton		86
	499,489	e	Bank of Queensland Ltd		2,063
	793,368		Bank of Shanghai Co Ltd		950
	829,976		Bank of the Philippine Islands		1,099
	46,005		Bank of the Ryukyus Ltd		400
	16,787		Bank OZK		358
	90,956		Bank Pekao S.A.		1,185
	161,804,057		Bank Rakyat Indonesia		33,195
	18,420		Bank Zachodni WBK S.A.		679
	3,937	e	Bank7 Corp		37
	36,674	e	BankFinancial Corp		265
	1,352,266		Bankia S.A.		1,969
	90,861		Bankinter S.A.		391
	217,925		BankUnited		4,775
	4,832	e	Bankwell Financial Group, Inc		68
	57,367		Banner Corp		1,851
	27,911		Banque Cantonale Vaudoise		2,832
	564,230		Banque Saudi Fransi		4,877
	26,086		Bar Harbor Bankshares		536
	12,807,208		Barclays plc		16,157
	1,099,665	g	BAWAG Group AG.		39,758
	11,917	*	Baycom Corp		123
	11,088		BCB Bancorp, Inc		89
	609,609	e	Bendigo Bank Ltd		2,655
	155,750		Berkshire Hills Bancorp, Inc		1,575
	535,900		BIMB Holdings BHD		452
	58,103	*	Bluegreen Vacations Holding Corp		778
	1,487,459		BNP Paribas S.A.		53,808
	3,446,316		BOC Hong Kong Holdings Ltd		9,136
	5,139	*,e	Bogota Financial Corp		39
	3,728	e	BOK Financial Corp		192
	134,673		Boston Private Financial Holdings, Inc		743
	6,023		BRE Bank S.A.		260
	31,695		Bridge Bancorp, Inc		552
	58,226	*,e	Bridgewater Bancshares, Inc		553

7

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	162,343		Brookline Bancorp, Inc	$	1,403
	32,845		Bryn Mawr Bank Corp		817
	275,260		BS Financial Group, Inc		1,191
	6,159,322		Bumiputra-Commerce Holdings BHD		4,574
	31,704	e	Business First Bancshares, Inc		476
	43,711		Byline Bancorp, Inc		493
	2,967	e	C&F Financial Corp		88
	200,462	e	Cadence BanCorp		1,722
	3,539,365		CaixaBank S.A.		7,514
	6,635	*,e	California Bancorp, Inc		75
	11,390	e	Cambridge Bancorp		605
	24,528		Camden National Corp		741
	32,122		Can Fin Homes Ltd		182
	487,141		Canadian Imperial Bank of Commerce		36,413
	186,483	e	Canadian Western Bank		3,760
	7,115	*	Capital Bancorp, Inc		67
	21,553	e	Capital City Bank Group, Inc		405
	495,941		Capitec Bank Holdings Ltd		30,546
	231,184		Capitol Federal Financial		2,142
	12,574		Capstar Financial Holdings, Inc		123
	40,477	e	Carter Bank & Trust		269
	236,156		Cathay General Bancorp		5,120
	4,498	e	CB Financial Services, Inc		86
	29,175	e	CBTX, Inc		477
	338,461		Central Pacific Financial Corp		4,593
	9,160	e	Central Valley Community Bancorp		113
	3,714	e	Century Bancorp, Inc		244
	4,821,338		Chang Hwa Commercial Bank		2,902
	2,742	e	Chemung Financial Corp		79
	368,854		Chiba Bank Ltd		2,035
	8,871,481		China Citic Bank		3,438
	306,700		China CITIC Bank Corp Ltd		228
	696,300		China Construction Bank Corp		630
	92,977,159		China Construction Bank Corp (Hong Kong)		60,414
	2,449,100		China Everbright Bank Co Ltd		1,315
	3,380,685		China Everbright Bank Co Ltd (Hong Kong)		1,069
	3,786,396		China Merchants Bank Co Ltd		17,968
	4,655,886		China Merchants Bank Co Ltd (Class A)		24,712
	2,210,000		China Minsheng Banking Corp Ltd		1,724
	5,824,719		China Minsheng Banking Corp Ltd (Hong Kong)		3,061
	16,976,422		Chinatrust Financial Holding Co		10,846
	8,754		ChoiceOne Financial Services, Inc		228
	2,533,084		Chongqing Rural Commercial Bank		936
	166,000	e	Chugoku Bank Ltd		1,592
	11,100	e	Chukyo Bank Ltd		224
	189,084		CIT Group, Inc		3,349
	6,661,730		Citigroup, Inc		287,187
	11,416	e	Citizens & Northern Corp		185
	2,053,228		Citizens Financial Group, Inc		51,906
	4,243	e	Citizens Holding Co		95
	23,774		City Holding Co		1,370
	305,330		City Union Bank Ltd		580
	51,058		Civista Bancshares, Inc		639
	29,400		CNB Financial Corp		437

8

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,595	*,e	Coastal Financial Corp	$	93
	8,564	e	Codorus Valley Bancorp, Inc		112
	309,317	*,e	Collector AB		499
	6,064		Colony Bankcorp Inc		65
	114,316		Columbia Banking System, Inc		2,726
	67,127	*	Columbia Financial, Inc		745
	22,607	e	Comerica, Inc		865
	15,177		Commerce Bancshares, Inc		854
	1,024,185		Commercial Bank of Qatar QSC		1,144
	2,993,005		Commercial International Bank		12,633
	1,175,671	e	Commerzbank AG.		5,782
	1,822,262		Commonwealth Bank of Australia		83,854
	84,142	e	Community Bank System, Inc		4,582
	12,827		Community Bankers Trust Corp		65
	3,821	e	Community Financial Corp		82
	25,754		Community Trust Bancorp, Inc		728
	715,360		Concordia Financial Group Ltd		2,488
	107,868		ConnectOne Bancorp, Inc		1,518
	595,537,580		Corpbanca S.A.		1,582
	4,348	e	County Bancorp, Inc		82
	264,901		Credicorp Ltd (NY)		32,845
	3,433,384		Credit Agricole S.A.		29,956
	94,739		Credito Emiliano S.p.A.		443
	71,027	*,e	Credito Valtellinese S.p.A		678
	78,461	*,e	CrossFirst Bankshares, Inc		682
	8,309		Cullen/Frost Bankers, Inc		531
	71,274	*,e	Customers Bancorp, Inc		798
	232,005		CVB Financial Corp		3,858
	1,919,391		CYBG plc		1,810
	5,646,074	*,†	Cyprus Popular Bank Public Co Ltd		66
	483,627		Dah Sing Banking Group Ltd		420
	163,508		Dah Sing Financial Holdings Ltd		395
	38,886		Daishi Hokuetsu Financial Group, Inc		804
	732,489		Danske Bank AS		9,908
	1,670,946		DBS Group Holdings Ltd		24,565
	162,790	g	Deutsche Pfandbriefbank AG.		1,079
	147,544		Development Credit Bank Ltd		157
	167,975		DGB Financial Group Co Ltd		787
	56,143		Dime Community Bancshares		635
	407,293		DNB NOR Holding ASA		5,674
	1,553,662		Doha Bank QSC		1,000
	878,567		Dubai Islamic Bank PJSC		1,036
	11,042,715		E.Sun Financial Holding Co Ltd		9,834
	5,464	e	Eagle Bancorp Montana, Inc		96
	49,910	e	Eagle Bancorp, Inc		1,337
	76,652		East West Bancorp, Inc		2,510
	38,675		Ehime Bank Ltd		434
	2,357,182		Emirates NBD Bank PJSC		6,885
	7,024	e	Enterprise Bancorp, Inc		148
	47,740		Enterprise Financial Services Corp		1,302
	12,910	e	Equitable Group, Inc		728
	24,946	*,e	Equity Bancshares, Inc		387
	143,948		Erste Bank der Oesterreichischen Sparkassen AG.		3,014
	5,131	*,e	Esquire Financial Holdings, Inc		77

9

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,994	e	ESSA Bancorp, Inc	$	86
	339,699		Essent Group Ltd		12,572
	2,545,335	*	Eurobank Ergasias S.A.		1,120
	898	e	Evans Bancorp, Inc		20
	2,245,885		Far Eastern International Bank		798
	11,267	e	Farmers & Merchants Bancorp, Inc		225
	47,282		Farmers National Banc Corp		516
	48,277		FB Financial Corp		1,213
	12,656		Federal Agricultural Mortgage Corp (FAMC)		806
	1,424,434		Federal Bank Ltd		943
	20,030		FIBI Holdings Ltd		457
	3,481	e	Fidelity D&D Bancorp, Inc		170
	2,877,634		Fifth Third Bancorp		61,351
	49,073		Financial Institutions, Inc		756
	1,149,114		FinecoBank Banca Fineco S.p.A		15,828
	115,297	e	First Bancorp (NC)		2,413
	693,822	e	First Bancorp (Puerto Rico)		3,622
	8,327		First Bancorp, Inc		176
	38,462		First Bancshares, Inc		807
	11,992	e	First Bank		74
	123,298		First Busey Corp		1,959
	6,295		First Business Financial Services, Inc		90
	2,987	e	First Capital Inc		167
	6,532		First Choice Bancorp		87
	3,827		First Citizens Bancshares, Inc (Class A)		1,220
	226,699		First Commonwealth Financial Corp		1,755
	28,627	e	First Community Bancshares, Inc		517
	6,484	e	First Community Corp		88
	153,083		First Financial Bancorp		1,838
	105,201		First Financial Bankshares, Inc		2,936
	23,660		First Financial Corp		743
	9,866,472		First Financial Holding Co Ltd		7,041
	195,062		First Foundation, Inc		2,549
	455	e	First Guaranty Bancshares, Inc		5
	17,104		First Hawaiian, Inc		247
	85,466		First Horizon National Corp		806
	79,466		First International Bank Of Israel Ltd		1,649
	18,624		First Internet Bancorp		274
	80,254		First Interstate Bancsystem, Inc		2,556
	177,148		First Merchants Corp		4,103
	16,763	e	First Mid-Illinois Bancshares, Inc		418
	183,832		First Midwest Bancorp, Inc		1,982
	19,743		First National Financial Corp		475
	7,554	e	First Northwest Bancorp		75
	53,041		First of Long Island Corp		786
	364,770		First Republic Bank		39,782
	1,714	e	First Savings Financial Group, Inc		93
	6,195	e	First United Corp		73
	5,737	*,e	First Western Financial, Inc		74
	209,931	e	Flagstar Bancorp, Inc		6,220
	91,997		Flushing Financial Corp		968
	45,292		FNB Corp		307
	14,742	e	FNCB Bancorp Inc		78
	3,352	e	Franklin Financial Services Corp		72

10

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,741	e	FS Bancorp, Inc	$	153
	119,631		Fukuoka Financial Group, Inc		2,011
	256,153		Fulton Financial Corp		2,390
	8,656	*,e	FVCBankcorp, Inc		87
	42,342	e	Genworth MI Canada, Inc		1,098
	357,185		Genworth Mortgage Insurance Australia Ltd		401
	36,784		German American Bancorp, Inc		998
	224,928		Glacier Bancorp, Inc		7,209
	19,077		Great Southern Bancorp, Inc		691
	153,412		Great Western Bancorp, Inc		1,910
	3,349		Greene County Bancorp, Inc		73
	4,610,969		Grupo Financiero Banorte S.A. de C.V.		15,978
	106,567		Grupo Financiero Galicia S.A. (ADR) (Class B)		772
	2,177,965	e	Grupo Financiero Inbursa S.A.		1,697
	1,071,320		Grupo Security S.A.		177
	52,583	e	Grupo Supervielle S.A. (ADR)		95
	6,131	e	Guaranty Bancshares, Inc		153
	390,400		Gunma Bank Ltd		1,302
	225,500		Habib Bank Ltd		178
	405,300		Hachijuni Bank Ltd		1,594
	701,057		Hana Financial Group, Inc		16,842
	159,974		Hancock Whitney Corp		3,009
	967,185		Hang Seng Bank Ltd		14,329
	58,599		Hanmi Financial Corp		481
	92,100		HarborOne Northeast Bancorp, Inc		743
	4,314	e	Hawthorn Bancshares Inc		82
	10,377	e	HBT Financial, Inc		116
	578,764		HDFC Bank Ltd		8,496
	289,988		HDFC Bank Ltd (ADR)		14,488
	70,010		Heartland Financial USA, Inc		2,100
	247,050	e	Heritage Commerce Corp		1,644
	54,052	e	Heritage Financial Corp		994
	385,214		Hilltop Holdings, Inc		7,928
	1,835		Hingham Institution for Savings		338
	281,102		Hiroshima Bank Ltd		1,634
	24,100		Hokkoku Bank Ltd		709
	129,860		Hokuhoku Financial Group, Inc		1,307
	7,151		Home Bancorp, Inc		173
	240,435		Home Bancshares, Inc		3,645
	55,240	*	Home Capital Group, Inc		895
	16,628		HomeStreet, Inc		428
	53,976		HomeTrust Bancshares, Inc		733
	575,320		Hong Leong Bank BHD		2,088
	162,573		Hong Leong Credit BHD		561
	184,694		Hope Bancorp, Inc		1,401
	165,064	e	Horizon Bancorp		1,665
	1,938,976		Housing Development Finance Corp		45,959
	10,574	*,e	Howard Bancorp, Inc		95
	2,977,835		HSBC Holdings plc		11,650
	7,748,270		Hua Nan Financial Holdings Co Ltd		4,750
	599,200		Huaxia Bank Co Ltd		541
	133,979		Huntington Bancshares, Inc		1,229
	230,074		Hyakugo Bank Ltd		720
	23,621		Hyakujushi Bank Ltd		401

11

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	7,680,669		ICICI Bank Ltd	$	37,138
	1,311,200		ICICI Bank Ltd (ADR)		12,889
	2,208,467	*	IDFC Bank Ltd		900
	71,206	*,e	Illimity Bank S.p.A		754
	50,967		Independent Bank Corp (MA)		2,670
	112,013		Independent Bank Corp (MI)		1,408
	61,294		Independent Bank Group, Inc		2,708
	103,637		India Infoline Ltd		112
	155,100		IndusInd Bank Ltd		1,114
	3,093,200		Industrial & Commercial Bank of China Ltd		2,238
	58,887,506		Industrial & Commercial Bank of China Ltd (Hong Kong)		30,674
	1,199,019		Industrial Bank Co Ltd		2,849
	244,231		Industrial Bank of Korea		1,668
	30,508,414		ING Groep NV		217,734
	82,878		International Bancshares Corp		2,160
	17,930,390	e	Intesa Sanpaolo S.p.A.		33,735
	7,335	e	Investar Holding Corp		94
	4,222,177		Investimentos Itau S.A. - PR		6,616
	313,997		Investors Bancorp, Inc		2,280
	154,711		Israel Discount Bank Ltd		417
	255,754		Iyo Bank Ltd		1,695
	329,831		Japan Post Bank Co Ltd		2,573
	255,612		JB Financial Group Co Ltd		985
	102,900		Jiangsu Changshu Rural Commercial Bank Co Ltd		118
	9,271,144	n	JPMorgan Chase & Co		892,533
	31,940		Juroku Bank Ltd		609
	63,943		Jyske Bank		1,797
	105,800		Kansai Mirai Financial Group, Inc		435
	321,355		Karur Vysya Bank Ltd		142
	1,692,434		Kasikornbank PCL (Foreign)		4,120
	381,426		KB Financial Group, Inc		12,282
	469,661		KBC Groep NV		23,552
	199,753	e	Kearny Financial Corp		1,440
	109,748		Keiyo Bank Ltd		509
	120,473		Keycorp		1,437
	233,132		Kiatnakin Bank PCL (Foreign)		275
	1,536,000		King’s Town Bank		1,971
	64,619		Kiyo Bank Ltd		998
	37,663		Komercni Banka AS		794
	3,650,848		Krung Thai Bank PCL (Foreign)		1,025
	391,800	e	Kyushu Financial Group, Inc		1,838
	149,280		Lakeland Bancorp, Inc		1,485
	36,985		Lakeland Financial Corp		1,524
	3,373		Landmark Bancorp, Inc		72
	46,812	e	Laurentian Bank of Canada		962
	10,582		LCNB Corp		144
	11,681	*,e	LendingTree, Inc		3,585
	3,834	e	Level One Bancorp, Inc		60
	2,234,476		Liberbank S.A.		595
	274,560		LIC Housing Finance Ltd		1,033
	14,781	e	Liechtensteinische Landesbank AG.		837
	4,748	*,e	Limestone Bancorp, Inc		50
	44,583	e	Live Oak Bancshares, Inc		1,129

12

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	53,473,511		Lloyds TSB Group plc	$	18,153
	19,257		Luther Burbank Corp		161
	16,072		M&T Bank Corp		1,480
	37,520	e	Macatawa Bank Corp		245
	7,051	e	Mackinac Financial Corp		68
	5,818	*,e	MainStreet Bancshares Inc		71
	3,803,705		Malayan Banking BHD		6,617
	1,456,538		Malaysia Building Society		179
	1,879,722		Masraf Al Rayan		2,152
	207,100		MCB Bank Ltd		217
	2,222,821		Mediobanca S.p.A.		17,418
	10,528,363		Mega Financial Holding Co Ltd		10,162
	27,295		Mercantile Bank Corp		492
	9,883		Merchants Bancorp		195
	237,529		Meridian Bancorp, Inc		2,458
	4,885	e	Meridian Corp		79
	59,766		Meta Financial Group, Inc		1,149
	21,520	e	Metrocity Bankshares, Inc		283
	3,679,751		Metropolitan Bank & Trust		2,913
	19,793	*,e	Metropolitan Bank Holding Corp		554
	710,409		MGIC Investment Corp		6,294
	5,477	e	Mid Penn Bancorp, Inc		95
	5,342	e	Middlefield Banc Corp		103
	41,161		Midland States Bancorp, Inc		529
	30,222	e	MidWestOne Financial Group, Inc		540
	10,721,424		Mitsubishi UFJ Financial Group, Inc		42,788
	17,500		Miyazaki Bank Ltd		400
	36,761		Mizrahi Tefahot Bank Ltd		652
	2,110,594		Mizuho Financial Group, Inc		26,344
	3,624	*,e	MMA Capital Holdings Inc		82
	1,001,601	g	Moneta Money Bank AS		2,300
	202,146	*	Mr Cooper Group, Inc		4,512
	43,368	e	Musashino Bank Ltd		646
	8,303	e	MVB Financial Corp		133
	27,849		Nanto Bank Ltd		516
	3,565,077		National Australia Bank Ltd		45,800
	184,156		National Bank Holdings Corp		4,834
	2,637,606		National Bank of Abu Dhabi PJSC		8,139
	317,663		National Bank of Canada		15,779
	540,320	*	National Bank of Greece S.A.		677
	383,000	*	National Bank Of Pakistan		92
	5,514	e	National Bankshares, Inc		140
	1,408,587		National Commercial Bank		13,992
	85,405		NBT Bancorp, Inc		2,291
	194,782		Nedbank Group Ltd		1,166
	67,749		New York Community Bancorp, Inc		560
	41,934	g	NIBC Holding NV		364
	14,999	*	Nicolet Bankshares, Inc		819
	140,964	e	Nishi-Nippon Financial Holdings, Inc		983
	358,623	*	NMI Holdings, Inc		6,383
	3,557,249		Nordea Bank Abp		27,031
	291,797		North Pacific Bank Ltd		636
	11,761	e	Northeast Bank		216
	79,500		Northfield Bancorp, Inc		725

13

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,494		Northrim BanCorp, Inc	$	242
	183,180	e	Northwest Bancshares, Inc		1,685
	245,329		Norwegian Finans Holding ASA		1,787
	3,748	e	Norwood Financial Corp		91
	537,131		Nova Ljubljanska Banka dd (ADR)		4,677
	6,799	e	Oak Valley Bancorp		78
	1,119,000		O-Bank Co Ltd		261
	123,268		OceanFirst Financial Corp		1,688
	931	e	Oconee Federal Financial Corp		20
	133,687		OFG Bancorp		1,666
	37,607	e	Ogaki Kyoritsu Bank Ltd		853
	3,684		Ohio Valley Banc Corp		76
	15,674		Oita Bank Ltd		364
	267,527		Old National Bancorp		3,360
	85,285	e	Old Second Bancorp, Inc		639
	838,805		OneSavings Bank plc		3,016
	4,664		OP Bancorp		27
	40,271	e	Origin Bancorp, Inc		860
	9,161	e	Orrstown Financial Services, Inc		117
	214,081		OTP Bank		6,444
	3,614,676		Oversea-Chinese Banking Corp		22,479
	121,253		Pacific Premier Bancorp, Inc		2,442
	104,375		PacWest Bancorp		1,783
	620,500		Paragon Group of Cos plc		2,660
	22,037	e	Park National Corp		1,806
	8,733	e	Parke Bancorp, Inc		104
	9,161		Partners Bancorp		52
	10,741		PCB Bancorp		94
	55,059		PCSB Financial Corp		665
	6,437	*,e	PDL Community Bancorp		57
	60,184		Peapack Gladstone Financial Corp		912
	6,560	e	Penns Woods Bancorp, Inc		130
	124,095		PennyMac Financial Services, Inc		7,212
	3,881	e	Peoples Bancorp of North Carolina, Inc		60
	28,421		Peoples Bancorp, Inc		543
	11,715	e	Peoples Financial Services Corp		407
	64,500		People’s United Financial, Inc		665
	5,910,838	*	Permanent TSB Group Holdings plc		3,445
	4,803,996		Ping An Bank Co Ltd		10,749
	9,614		Pinnacle Financial Partners, Inc		342
	10,694	*,e	Pioneer Bancorp, Inc		95
	266,940	*	Piraeus Bank S.A.		330
	4,182	e	Plumas Bancorp		82
	53,388	g	PNB Housing Finance Ltd		246
	1,292,106		PNC Financial Services Group, Inc		142,015
	114,084		Popular, Inc		4,138
	9,696,000	g	Postal Savings Bank of China Co Ltd		4,085
	784,000		Postal Savings Bank of China Co Ltd		520
	442,121		Powszechna Kasa Oszczednosci Bank Polski S.A.		2,427
	22,756	e	Preferred Bank		731
	10,479		Premier Financial Bancorp, Inc		113
	140,651		Premier Financial Corp		2,191
	10,550	*,e	Professional Holding Corp		141
	53,144		Prosperity Bancshares, Inc		2,754

14

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,433		Provident Bancorp Inc	$	42
	4,566	e	Provident Financial Holdings, Inc		54
	148,581		Provident Financial Services, Inc		1,813
	5,045		Prudential Bancorp, Inc		53
	13,476,574		PT Bank Central Asia Tbk		24,600
	2,368,900		PT Bank Jabar Banten Tbk		139
	17,832,205		PT Bank Mandiri Persero Tbk		5,964
	7,193,019		PT Bank Negara Indonesia		2,158
	3,366,500		PT Bank Pembangunan Daerah Jawa Timur Tbk		116
	4,073,900		PT Bank Tabungan Negara Tbk		331
	1,895,300		PT Bank Tabungan Pensiunan Nasional Syariah Tbk		420
	2,782,189		Public Bank BHD		10,523
	360,710		Qatar International Islamic Bank QSC		832
	570,069		Qatar Islamic Bank SAQ		2,586
	4,314,304		Qatar National Bank		21,599
	40,299	e	QCR Holdings, Inc		1,105
	349,700		Qingdao Rural Commercial Bank Corp		259
	1,051,200		Radian Group, Inc		15,358
	382,303	e	Raiffeisen International Bank Holding AG.		5,852
	20,819	e	RBB Bancorp		236
	348,704	g	RBL Bank Ltd		808
	7,628		Red River Bancshares Inc		328
	478,477	e	Regional SAB de C.V.		1,136
	124,156		Regions Financial Corp		1,432
	22,694	e	Reliant Bancorp Inc		329
	82,344	e	Renasant Corp		1,871
	15,740		Republic Bancorp, Inc (Class A)		443
	35,351	*,e	Republic First Bancorp, Inc		70
	2,589,258		Resona Holdings, Inc		8,821
	1,419,139		RHB Capital BHD		1,563
	10,685		Richmond Mutual Bancorporation, Inc		113
	50,942		Ringkjoebing Landbobank A.S.		3,867
	16,614		Riverview Bancorp, Inc		69
	1,277,307		Riyad Bank		6,366
	436,783	*,e	Rocket Cos, Inc		8,705
	5,200	*,†	Roskilde Bank		0
	1,655,812		Royal Bank of Canada		116,257
	1,762,386		Royal Bank of Scotland Group plc		2,413
	62,700	e	S&T Bancorp, Inc		1,109
	2,293	e	Salisbury Bancorp, Inc		72
	925,151		Samba Financial Group		6,654
	22,200		San ju San Financial Group, Inc		290
	126,043		Sandy Spring Bancorp, Inc		2,909
	158,964		San-In Godo Bank Ltd		856
	682,725		Saudi British Bank		4,611
	6,394	e	SB Financial Group, Inc		86
	5,217,618		Sberbank of Russia (ADR)		60,890
	80,415	*	Seacoast Banking Corp of Florida		1,450
	235,520		Security Bank Corp		450
	8,297	*,e	Security National Financial Corp		53
	13,194	*,e	Select Bancorp, Inc		95
	237,480		Senshu Ikeda Holdings, Inc		396
	44,848	e	ServisFirst Bancshares, Inc		1,526
	410,217	e	Seven Bank Ltd		994

15

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,150,393		Shanghai Commercial & Savings Bank Ltd	$	4,252
	1,715,700		Shanghai Pudong Development Bank Co Ltd		2,372
	65,700		Shiga Bank Ltd		1,541
	41,378		Shikoku Bank Ltd		293
	442,608		Shinhan Financial Group Co Ltd		10,384
	108,158	*	Shinsei Bank Ltd		1,335
	289,846		Shizuoka Bank Ltd		2,002
	10,942		Shore Bancshares, Inc		120
	3,349,300		Siam Commercial Bank PCL (ADR)		6,897
	854,717		Siam Commercial Bank PCL (Foreign)		1,760
	23,926	e	Sierra Bancorp		402
	74,571		Signature Bank		6,189
	47,645	*	Silvergate Capital Corp		686
	269,641		Simmons First National Corp (Class A)		4,275
	9,648,617		SinoPac Financial Holdings Co Ltd		3,638
	172,615	g	Skandiabanken ASA		1,248
	2,354,237		Skandinaviska Enskilda Banken AB (Class A)		20,909
	12,013		SmartFinancial, Inc		163
	107,751		Societe Generale		1,430
	18,856	e	South Plains Financial Inc		234
	114,771		South State Corp		5,526
	11,327	*,e	Southern First Bancshares, Inc		274
	6,642	e	Southern Missouri Bancorp, Inc		157
	61,298		Southern National Bancorp of Virginia, Inc		532
	48,994		Southside Bancshares, Inc		1,197
	92,203		Spar Nord Bank AS		689
	46,662		Sparebank Oestlandet		439
	197,014		SpareBank SR-Bank ASA		1,630
	147,283		Sparebanken Midt-Norge		1,331
	169,786		Sparebanken Nord-Norge		1,175
	21,424	*	Spirit of Texas Bancshares, Inc		239
	3,397	e	St Galler Kantonalbank		1,461
	3,532	e	Standard AVB Financial Corp		115
	652,491		Standard Bank Group Ltd		4,191
	4,119,431		Standard Chartered plc		18,956
	1,747,282	*	State Bank of India		4,410
	24,269		Sterling Bancorp		255
	13,046		Sterling Bancorp, Inc		39
	30,927		Stock Yards Bancorp, Inc		1,053
	2,674,285		Sumitomo Mitsui Financial Group, Inc		74,775
	258,545		Sumitomo Mitsui Trust Holdings, Inc		6,878
	8,779		Summit Financial Group, Inc		130
	1,011,064	e	Suruga Bank Ltd		3,658
	7,940	*	SVB Financial Group		1,911
	627,608		Svenska Handelsbanken AB		5,251
	177,161		Swedbank AB (A Shares)		2,774
	67,797		Sydbank AS		1,063
	22,707		Synovus Financial Corp		481
	2,489,350		Taichung Commercial Bank		923
	9,230,972		Taishin Financial Holdings Co Ltd		4,107
	5,413,628		Taiwan Business Bank		1,794
	8,784,200		Taiwan Cooperative Financial Holding		5,947
	1,076,641	e	TCF Financial Corp		25,150
	955,438		TCS Group Holding plc (ADR)		25,271

16

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	6,792		Territorial Bancorp, Inc	$	137
	84,553	*	Texas Capital Bancshares, Inc		2,632
	28,300		Texcell-NetCom Co Ltd		136
	82,740		TFS Financial Corp		1,215
	1,717,431		Thanachart Capital PCL		1,581
	295,514	*	The Bancorp, Inc		2,553
	124,266		Timbercreek Financial Corp		779
	4,977		Timberland Bancorp, Inc		90
	25,231,654		TMB Bank PCL (Foreign)		712
	199,343		Toho Bank Ltd		439
	32,478		Tokyo TY Financial Group, Inc		350
	156,664		Tomony Holdings, Inc		508
	21,986		Tompkins Financial Corp		1,249
	2,236,291		Toronto-Dominion Bank		103,539
	35,600		Towa Bank Ltd		245
	155,960		Towne Bank		2,558
	43,520	e	Trico Bancshares		1,066
	145,332	*	Tristate Capital Holdings, Inc		1,924
	36,520	*	Triumph Bancorp, Inc		1,137
	4,069,132		Truist Financial Corp		154,830
	405,830	e	Trustco Bank Corp NY		2,118
	102,604		Trustmark Corp		2,197
	13,568,264	*	Turkiye Garanti Bankasi AS		12,401
	820,220	*	Turkiye Is Bankasi (Series C)		568
	11,668,906	*	Turkiye Sinai Kalkinma Bankasi AS		1,677
	75,087		UMB Financial Corp		3,680
	32,183		Umpqua Holdings Corp		342
	913,730	g	Unicaja Banco S.A.		687
	7,378,091		UniCredit S.p.A.		60,959
	1,762,456		Union Bank Of Taiwan		609
	500,922		United Bank Ltd		348
	215,888		United Bankshares, Inc		4,635
	316,853		United Community Banks, Inc		5,364
	1,316,500		United Overseas Bank Ltd		18,546
	10,423	e	United Security Bancshares		64
	7,187	e	Unity Bancorp, Inc		83
	99,589		Univest Financial Corp		1,431
	4,074,021		US Bancorp		146,054
	17,859		Valiant Holding		1,502
	614,703		Valley National Bancorp		4,211
	327,408		Van Lanschot Kempen NV (ADR)		6,022
	74,195	e	Veritex Holdings, Inc		1,264
	787,528		VTB Bank PJSC (GDR) Equiduct		657
	313,288	*	VTB Bank PJSC (GDR) Tradegate		261
	47,151		Walker & Dunlop, Inc		2,499
	197,058		Washington Federal, Inc		4,111
	53,832		Washington Trust Bancorp, Inc		1,650
	74,014		Waterstone Financial, Inc		1,146
	12,855		Webster Financial Corp		339
	3,698,514		Wells Fargo & Co		86,952
	103,555		WesBanco, Inc		2,212
	22,094		West Bancorporation, Inc		350
	68,465		Westamerica Bancorporation		3,721
	13,230		Western Alliance Bancorp		418

17

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,540	e	Western New England Bancorp, Inc	$	110
	3,511,777		Westpac Banking Corp		42,701
	8,433		Wintrust Financial Corp		338
	516,545		Woori Financial Group, Inc		3,777
	169,554		WSFS Financial Corp		4,573
	29,500	e	Yamagata Bank Ltd		383
	419,199		Yamaguchi Financial Group, Inc		2,725
	29,539		Yamanashi Chuo Bank Ltd		232
	2,791,849	*	Yapi ve Kredi Bankasi		770
	298,569		Yes Bank Ltd		54
	117,805		Zions Bancorporation		3,442
			TOTAL BANKS		5,537,815
CAPITAL GOODS - 6.6%
	469,676		3M Co		75,233
	197,085	e	A.O. Smith Corp		10,406
	110,490		Aalberts Industries NV		3,973
	1,872,543		Aamal Co		482
	33,466	e	Aaon, Inc		2,016
	59,023		AAR Corp		1,110
	1,495,038		ABB Ltd		38,010
	1,792,406		Aboitiz Equity Ventures, Inc		1,713
	366,270		AcBel Polytech, Inc		305
	202,257		ACS Actividades de Construccion y Servicios S.A.		4,572
	7,189		Acuity Brands, Inc		736
	244,234		Adani Enterprises Ltd		991
	38,793	e	Adapteo Oyj		349
	289,428		AddTech AB		3,792
	24,200	e	Advan Co Ltd		305
	278,982		Advanced Drainage Systems, Inc		17,420
	63,421		AECC Aero-Engine Control Co Ltd		184
	123,600		AECC Aviation Power Co Ltd		751
	289,229	*	Aecom Technology Corp		12,101
	65,494		Aecon Group, Inc		673
	47,463	*	Aegion Corp		671
	122,776	*	AerCap Holdings NV		3,093
	64,943	*	Aerojet Rocketdyne Holdings, Inc		2,591
	91,759	*	Aerovironment, Inc		5,506
	54,669		AFG Arbonia-Forster Hldg		704
	20,513	e	AG Growth International Inc		417
	609,462		AGCO Corp		45,265
	38,912		AIA Engineering Ltd		977
	57,852		Aica Kogyo Co Ltd		2,062
	35,900	e	Aichi Corp		301
	45,441		Aida Engineering Ltd		313
	156,422		Air Lease Corp		4,602
	1,229,523		Airbus SE		89,172
	113,579		Airtac International Group		2,584
	10,124	e	Alamo Group, Inc		1,094
	59,473		Albany International Corp (Class A)		2,944
	298,717		Alfa Laval AB		6,594
	2,996,014	e	Alfa S.A. de C.V. (Class A)		1,858
	14,577	*,g	Alfen Beheer BV		925
	37,378	g	Alimak Group AB		507

18

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	277,616		Allegion plc	$	27,459
	3,485,000		Alliance Global Group, Inc		505
	217,879		Allied Electronics Corp Ltd		287
	13,546	e	Allied Motion Technologies, Inc		559
	166,530		Allison Transmission Holdings, Inc		5,852
	39,139	*,e	Alpha Pro Tech Ltd		578
	13,931		Alstom Projects India Ltd		81
	25,626		Alstom RGPT		1,280
	44,426	*,e	Alta Equipment Group, Inc		348
	112,414		Altra Industrial Motion Corp		4,156
	292,032		Amada Co Ltd		2,732
	18,702		Amara Raja Batteries Ltd		194
	20,276	*	Ameresco, Inc		677
	38,337	*,e	American Superconductor Corp		555
	32,521	*	American Woodmark Corp		2,554
	30,604		Ametek, Inc		3,042
	127,196		Andritz AG.		3,926
	32,887		Anest Iwata Corp		271
	33,258		Apogee Enterprises, Inc		711
	169,892		Applied Industrial Technologies, Inc		9,361
	95,857	*	Aprogen KIC, Inc		149
	123,103	e	Arcadis NV		2,672
	79,180	e	Arcosa, Inc		3,491
	24,422		Argan, Inc		1,024
	70,690		Armstrong World Industries, Inc		4,864
	55,900	e	Asahi Diamond Industrial Co Ltd		259
	160,938		Asahi Glass Co Ltd		4,730
	304,456		Aselsan Elektronik Sanayi Ve Ticaret AS		762
	1,105,618		Ashok Leyland Ltd		1,124
	1,913,483		Ashtead Group plc		68,907
	62,437		Ashtrom Group Ltd		736
	1,334,725		Assa Abloy AB		31,206
	37,544	e	Astec Industries, Inc		2,037
	64,272		Astral Polytechnik Ltd		1,071
	38,292	*	Astronics Corp		296
	295,145	*	Atkore International Group, Inc		6,709
	390,515	e	Atlas Copco AB (A Shares)		18,619
	173,936		Atlas Copco AB (B Shares)		7,259
	80,545	*	ATS Automation Tooling Systems, Inc		1,047
	1,161,631		Austal Ltd		2,744
	141,300		AVIC Aircraft Co Ltd		480
	178,700		AVIC Electromechanical Systems Co Ltd		302
	53,100		AVIC Shenyang Aircraft Co Ltd		450
	1,364,719		AviChina Industry & Technology Co		781
	32,100		AVICOPTER plc		265
	116,288	*	Axon Enterprise, Inc		10,547
	263,094		Ayala Corp		3,762
	56,122	*	AZEK Co, Inc		1,954
	87,732		AZZ, Inc		2,993
	38,301	e	Badger Daylighting Ltd		1,095
	4,579,862		BAE Systems plc		28,443
	769,115		Balfour Beatty plc		2,214
	186,551	*,e	Ballard Power Systems, Inc		2,819
	34,600		Bando Chemical Industries Ltd		198

19

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	199,763		Barloworld Ltd	$	730
	74,435		Barnes Group, Inc		2,660
	17,998		BayWa AG.		592
	87,079	*,e	Beacon Roofing Supply, Inc		2,706
	78,529	e	Beijer Ref AB		2,586
	86,591		Beijing New Building Materials plc		395
	646		Belimo Holding AG.		4,877
	1,195,000		BES Engineering Corp		313
	25,945		BGF Co Ltd		91
	731,752		Bharat Electronics Ltd		952
	728,347		Bharat Heavy Electricals		291
	139,870	e	Bidvest Group Ltd		1,148
	15,379		Biesse S.p.A.		262
	119,213		Bizlink Holdings Inc		936
	410,030	*,e	Bloom Energy Corp		7,368
	50,081	*	Blue Bird Corp		609
	23,410		Blue Star Ltd		204
	336,729	*	BMC Stock Holdings, Inc		14,422
	9,327	e	Bobst Group AG.		578
	210,000	g	BOC Aviation Ltd		1,439
	210,283		Bodycote plc		1,575
	962,098		Boeing Co		158,996
	379,300	*	Bohai Leasing Co Ltd		156
	2,336,503	*,e	Bombardier, Inc		579
	23,943		Bonheur ASA		567
	94,205	e	Boskalis Westminster		1,869
	6,163		Bossard Holding AG.		1,113
	212,530		Bouygues S.A.		7,344
	20,535		Brenntag AG.		1,306
	403,000		Brighton-Best International Taiwan, Inc		357
	7,440		Bucher Industries AG.		2,834
	11,144		Budimex S.A.		706
	30,481		Bufab AB		473
	398,416	*	Builders FirstSource, Inc		12,996
	172,000		Bunka Shutter Co Ltd		1,361
	410,727		Bunzl plc		13,261
	6,263		Burckhardt Compression Holding AG.		1,572
	4,809		Burkhalter Holding AG.		331
	56,514		BWX Technologies, Inc		3,182
	755,113		CAE, Inc		11,047
	119,112	e	Caesarstone Sdot-Yam Ltd		1,167
	27,548	e	CAI International, Inc		758
	29,792		Carbone Lorraine		914
	39,749		Carborundum Universal Ltd		146
	46,941		Cargotec Corp (B Shares)		1,608
	87,012		Carlisle Cos, Inc		10,648
	1,437,940		Carrier Global Corp		43,915
	1,454,539		Caterpillar, Inc		216,944
	36,800		Central Glass Co Ltd		765
	4,072		Cera Sanitaryware Ltd		129
	96,159	*	Ceres Power Holdings plc		690
	1,098,744		CH Karnchang PCL		592
	643,800	e	Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		622

20

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	85,011	*	Chart Industries, Inc	$	5,974
	80,668		Cheil Industries, Inc		7,239
	382,636		Chicony Power Technology Co Ltd		882
	65,000		China Aerospace Times Electronics Co Ltd		67
	258,846		China Aircraft Leasing Group Holdings Ltd		220
	34,383		China Avionics Systems Co Ltd		86
	341,300		China Communications Construction Co Ltd		374
	2,450,492		China Communications Construction Co Ltd (Hong Kong)		1,289
	1,317,671		China Communications Services Corp Ltd		778
	801,000		China Conch Venture Holdings Ltd		3,726
	291,475		China Fangda Group Co Ltd		128
	159,900		China Gezhouba Group Co Ltd		140
	607,000		China High Speed Transmission Equipment Group Co Ltd		479
	532,000		China Lesso Group Holdings Ltd		966
	799,000		China Machinery Engineering Corp		165
	29,200		China Meheco Co Ltd		63
	297,000		China National Chemical Engineering Co Ltd		236
	1,127,243		China Railway Construction Corp		780
	670,600		China Railway Construction Corp Ltd		820
	1,371,000		China Railway Group Ltd		1,089
	2,125,027		China Railway Group Ltd (Hong Kong)		1,004
	1,602,500		China Shipbuilding Industry Co Ltd		1,026
	50,400		China Spacesat Co Ltd		247
	2,512,906		China State Construction Engineering Corp Ltd		1,882
	1,162,685		China State Construction International Holdings Ltd		763
	56,217		China Yuchai International Ltd		1,012
	275,145	*	Chiyoda Corp		666
	11,300		Chiyoda Integre Co Ltd		175
	12,960	e	Chori Co Ltd		199
	34,700		Chudenko Corp		759
	590,988	*	Churchill Capital Corp IV		5,922
	144,500	g	CIMC Vehicles Group Co Ltd		135
	88,806		CIMIC Group Ltd		1,190
	32,250	*	CIRCOR International, Inc		882
	3,046,796		Citic Pacific Ltd		2,259
	2,641,000		Citic Resources Holdings Ltd		89
	8,286		CJ Corp		575
	2,547,319		CK Hutchison Holdings Ltd		15,436
	54,193	e	CKD Corp		890
	136,007		CNH Industrial NV		1,052
	3,380,324		CNH Industrial NV (NYSE)		26,434
	30,736	g	Cochin Shipyard Ltd		140
	1,548,422		Cofide S.p.A.		710
	227,000	*	Colfax Corp		7,119
	67,709		Columbus McKinnon Corp		2,241
	232,082		Comfort Systems USA, Inc		11,955
	3,914,069		Compagnie de Saint-Gobain		163,949
	8,117		Compagnie d’Entreprises CFE		535
	125,217	e	COMSYS Holdings Corp		3,494
	21,847	*,e	Concrete Pumping Holdings Inc		78
	23,306		Construcciones y Auxiliar de Ferrocarriles S.A.		805
	74,306	*	Construction Partners Inc		1,352

21

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	132,059		Contemporary Amperex Technology Co Ltd	$	4,088
	364,450		Continental Engineering Corp		255
	1,510		Conzzeta AG.		1,611
	59,616	*	Cornerstone Building Brands, Inc		476
	25,995		Cosel Co Ltd		267
	5,668		Crane Co		284
	2,417,221		CRRC Corp Ltd		968
	752,200		CRRC Corp Ltd (Class A)		609
	5,582		CS Wind Corp		473
	180,746	*	CSBC Corp Taiwan		151
	54,084		CSW Industrials, Inc		4,178
	545,000		CTCI Corp		736
	46,823	e	Cubic Corp		2,724
	60,997		Cummins India Ltd		369
	20,258		Cummins, Inc		4,278
	82,327		Curtiss-Wright Corp		7,678
	24,406		Daelim Industrial Co		1,613
	8,497		Daetwyler Holding AG.		1,894
	177,452	*	Daewoo Engineering & Construction Co Ltd		422
	60,133		Daewoo International Corp		687
	20,513	*	Daewoo Shipbuilding & Marine Engineering Co Ltd		416
	14,238		Dai-Dan Co Ltd		376
	91,113		Daifuku Co Ltd		9,197
	20,248		Daihen Corp		825
	23,489		Daiho Corp		673
	16,837		Daiichi Jitsugyo Co Ltd		596
	379,240		Daikin Industries Ltd		70,074
	35,100		Daiwa Industries Ltd		316
	13,896	e	Danieli & Co S.p.A.		238
	102,560		Danieli & Co S.p.A. (RSP)		1,144
	2,337		Dassault Aviation S.A.		1,971
	91,771		DCC plc		7,104
	711,114		Deere & Co		157,604
	15,484		Denyo Co Ltd		363
	135,619		Deutz AG.		786
	30,282	g	Dilip Buildcon Ltd		138
	139,424		Diploma plc		3,953
	3,473,000		DMCI Holdings, Inc		288
	6,408,973		Dogan Sirketler Grubu Holdings		1,961
	19,987		Donaldson Co, Inc		928
	110,900		Dongfang Electric Corp Ltd		166
	46,555		Doosan Bobcat, Inc		1,075
	5,137	*	Doosan Corp		206
	21,330	*	Doosan Fuel Cell Co Ltd		781
	121,737	*	Doosan Heavy Industries and Construction Co Ltd		1,392
	130,067	*	Doosan Infracore Co Ltd		973
	16,381		Douglas Dynamics, Inc		560
	772,716		Dover Corp		83,716
	392,953	*,†	Drake & Scull International PJSC		1
	232,718	*,e	DTXS Silk Road Investment Holdings Co Ltd		123
	2,024,102		Dubai Investments PJSC		639
	18,955	*	Ducommun, Inc		624
	57,043		Duerr AG.		1,745
	36,551	*	DXP Enterprises, Inc		590

22

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,590	*	Dycom Industries, Inc	$	1,721
	3,679,900		Dynasty Ceramic PCL		291
	1,578	e	Eastern Co		31
	1,614,706		Eaton Corp		164,748
	100,700		Ebara Corp		2,731
	9,043		Ecopro BM Co Ltd		1,053
	79,076		Eiffage S.A.		6,454
	1,245,700		Ekovest BHD		149
	24,773		Elbit Systems Ltd		3,007
	21,815		Elco Holdings Ltd		822
	3,117		Electra Israel Ltd		1,406
	437,453		ElSwedy Cables Holding Co		190
	227,170		EMCOR Group, Inc		15,382
	470,946	*,e	Emeco Holdings Ltd		287
	78,678		Emerson Electric Co		5,159
	8,660,988		Empresa Brasileira de Aeronautica S.A.		9,623
	36,797		Encore Wire Corp		1,708
	31,807	*,e	Energy Recovery, Inc		261
	73,249		Enerpac Tool Group Corp		1,378
	66,456		EnerSys		4,461
	134,347		Engineers India Ltd		117
	61,520		EnPro Industries, Inc		3,470
	618,000	e	Enric Energy Equipment Holdings Ltd		273
	51,831		Epiroc AB		719
	87,589		Epiroc AB (Class A)		1,269
	25,400		ESCO Technologies, Inc		2,046
	58,871		Escorts Ltd		1,056
	52,830		Eve Energy Co Ltd		387
	4,347	e	EVI Industries, Inc		116
	447,000	*	Evoqua Water Technologies Corp		9,485
	23,789	e	FACC AG.		142
	291,833		Famur S.A.		131
	370,910	*	Fangda Carbon New Material Co Ltd		334
	204,899		Fanuc Ltd		39,323
	2,918,680		Far Eastern Textile Co Ltd		2,564
	831,905		Fastenal Co		37,511
	212,754		Federal Signal Corp		6,223
	59,658	*	Feelux Co Ltd		177
	53,018		Ferguson plc		5,335
	452,194		Ferrovial S.A.		10,984
	574,478	e	Fincantieri S.p.A		370
	377,116		Finmeccanica S.p.A.		2,203
	177,340	e	Finning International, Inc		2,712
	59,219		Finolex Cables Ltd		222
	83,144		Flowserve Corp		2,269
	977,516		FLSmidth & Co AS		27,760
	55,218	*	Fluidra S.A.		932
	222,677		Fluor Corp		1,962
	92,381		Fomento de Construcciones y Contratas S.A.		881
	1,193,373		Fortive Corp		90,947
	185,871		Fortune Brands Home & Security, Inc		16,082
	2,525,224	e	Fosun International		2,958
	158,505	*	Foundation Building Materials, Inc		2,492
	52,264		Franklin Electric Co, Inc		3,075

23

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	407,578	*,e	FuelCell Energy, Inc	$	872
	89,269		Fuji Electric Holdings Co Ltd		2,830
	69,645		Fuji Machine Manufacturing Co Ltd		1,380
	253,778		Fujikura Ltd		704
	70,839		Fujitec Co Ltd		1,517
	6,571		Fukuda Corp		319
	13,639		Fukushima Industries Corp		508
	8,795,000	*	Fullshare Holdings Ltd		199
	31,756		Furukawa Co Ltd		344
	75,044		Furukawa Electric Co Ltd		1,794
	38,281		Futaba Corp/Chiba		343
	1,633,996		Gamuda BHD		1,375
	62,233	*	Gates Industrial Corp plc		692
	55,069		GATX Corp		3,511
	356,541		GEA Group AG.		12,493
	5,393		Geberit AG.		3,191
	14,500		Gecoss Corp		130
	108,657	*	GEK Group of Cos S.A.		781
	6,912	*,e	Gencor Industries, Inc		76
	97,718	*	Generac Holdings, Inc		18,922
	362,296		General Dynamics Corp		50,153
	1,883,970		General Electric Co		11,737
	3,871	*,e	General Finance Corp		24
	4,563		Georg Fischer AG.		4,738
	139,998	*	Gibraltar Industries, Inc		9,119
	18,801		Giken Seisakusho Co, Inc		722
	52,056		Glory Ltd		1,167
	3,266		GMM Pfaudler Ltd		177
	113,561	*	GMS, Inc		2,737
	75,887		Godrej Industries Ltd		424
	22,539	e	Gorman-Rupp Co		664
	56,685		Graco, Inc		3,478
	116,700		GrafTech International Ltd		798
	252,281		Grafton Group plc		2,194
	21,376	e	Graham Corp		273
	67,335		Granite Construction, Inc		1,186
	58,964		Graphite India Ltd		156
	296,250	*	Great Lakes Dredge & Dock Corp		2,817
	47,923		Greenbrier Cos, Inc		1,409
	69,468		Griffon Corp		1,357
	444,184	e	Grupo Carso S.A. de C.V. (Series A1)		913
	25,690	e	Grupo Empresarial San Jose		121
	151,692	e	Grupo Rotoplas SAB de C.V.		130
	54,688		GS Engineering & Construction Corp		1,126
	75,554		GS Yuasa Corp		1,306
	219,350		GT Capital Holdings, Inc		1,756
	3,434,919		Gunkul Engineering PCL		244
	68,800	*	Guocheng Mining Co Ltd		170
	18,100		Guoxuan High-Tech Co Ltd		64
	258,268		GWA International Ltd		517
	57,439		H&E Equipment Services, Inc		1,129
	638,813		Haitian International Holdings Ltd		1,487
	268,796		Hangzhou Steam Turbine Co		304
	39,879		Hanwa Co Ltd		798

24

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,348		Hanwha Corp	$	416
	539,400		HAP Seng Consolidated BHD		929
	610,000	*	Harbin Power Equipment		174
	42,794	e	Harmonic Drive Systems, Inc		2,760
	184,649	*,e	Harsco Corp		2,568
	122,499		Havells India Ltd		1,127
	213,836		Hazama Ando Corp		1,478
	39,502	*,e	HC2 Holdings, Inc		96
	238,461	*	HD Supply Holdings, Inc		9,834
	36,810		HDC Hyundai Development Co-Engineering & Construction		670
	420,500	e	Hebei Construction Group Corp Ltd		806
	30,100		Hefei Meiya Optoelectronic Technology, Inc		212
	10,953		HEG Ltd		108
	63,171	e	HEICO Corp		6,611
	226,364		HEICO Corp (Class A)		20,069
	60,077		Helios Technologies, Inc		2,187
	42,404	*	Herc Holdings, Inc		1,680
	113,531	*	Hexagon Composites ASA		631
	1,098,353		Hexcel Corp		36,850
	18,328		Hibiya Engineering Ltd		312
	122,724		Hillenbrand, Inc		3,480
	201,912	*	Hino Motors Ltd		1,310
	9,000		Hirata Corp		541
	20,424	e	Hisaka Works Ltd		174
	192,226	*,e	Hitachi Construction Machinery Co Ltd		6,966
	171,420		Hitachi Zosen Corp		727
	122,271		Hiwin Technologies Corp		1,215
	21,176		Hochtief AG.		1,644
	3,189,844		Honeywell International, Inc		525,080
	940,000	*	Hong Kong Finance Investment Holding Group Ltd		73
	41,900		Hongfa Technology Co Ltd		283
	45,550		Hoshizaki Electric Co Ltd		3,635
	18,401		Hosokawa Micron Corp		956
	1,045,887		Howden Joinery Group plc		7,960
	665,968		Howmet Aerospace, Inc		11,135
	109,200		Huangshi Dongbei Electrical Appliance Co Ltd		321
	442,777		Hubbell, Inc		60,590
	17,059		Huber & Suhner AG.		1,285
	57,172		Huntington Ingalls		8,047
	4,252	e	Hurco Cos, Inc		121
	16,041		Hyster-Yale Materials Handling, Inc		596
	11,006		Hyundai Construction Equipment Co Ltd		249
	32,488		Hyundai Development Co		293
	17,352	*	Hyundai Electric & Energy System Co Ltd		227
	25,321		Hyundai Elevator Co Ltd		883
	73,474		Hyundai Engineering & Construction Co Ltd		1,907
	20,079	*	Hyundai Heavy Industries		1,416
	22,074		Hyundai Mipo Dockyard		559
	5,164		Hyundai Robotics Co Ltd		960
	42,642	*	Hyundai Rotem Co Ltd		583
	33,477		Idec Corp		607
	10,830		IDEX Corp		1,975
	10,270	*	IES Holdings, Inc		326

25

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,569,800		IJM Corp BHD	$	892
	5,971		Iljin Diamond Co Ltd		276
	181,591		Illinois Tool Works, Inc		35,085
	303,065		IMI plc		4,088
	26,291	e	Implenia AG.		807
	251,059	e	Impregilo S.p.A.		294
	14,441		IMS-Intl Metal Service		141
	84,236		Inaba Denki Sangyo Co Ltd		2,116
	62,498		Inabata & Co Ltd		798
	10,546	g	IndiaMart InterMesh Ltd		716
	20,693		Indus Holding AG.		681
	24,262	e	Industria Macchine Automatiche S.p.A.		1,914
	926,859		Industries Qatar QSC		2,518
	101,044		Indutrade AB		5,409
	727,688	*,e	Ingersoll Rand, Inc		25,906
	31,000		Inner Mongolia First Machinery Group Co Ltd		51
	47,857		Instalco AB		1,064
	40,284		Insteel Industries, Inc		753
	84,856		Interpump Group S.p.A.		3,147
	704		Interroll Holding AG.		1,781
	138,702	e	Investment AB Latour		3,259
	144,177		Inwido AB		1,465
	109,024		Iochpe-Maxion S.A.		266
	139,133		IRB Infrastructure Developers Ltd		214
	13,447		IS Dongseo Co Ltd		469
	19,400		Iseki & Co Ltd		262
	146,900		Ishikawajima-Harima Heavy Industries Co Ltd		1,955
	16,956		Italmobiliare S.p.A		586
	345,797	*,e	Itm Power plc		1,160
	1,383,593	e	Itochu Corp		35,428
	750,645		ITT, Inc		44,326
	42,822	e	Iwatani International Corp		1,605
	185,924		Jacobs Engineering Group, Inc		17,248
	11,932		Japan Pulp & Paper Co Ltd		425
	66,861		Japan Steel Works Ltd		1,176
	267,368		Jardine Matheson Holdings Ltd		10,628
	206,688		Jardine Strategic Holdings Ltd		4,098
	212,100	e	JDC Corp		1,253
	109,783	*	JELD-WEN Holding, Inc		2,481
	2,579,827		JG Summit Holdings (Series B)		3,214
	410,396		JGC Corp		4,257
	65,860		Jiangsu Hengli Hydraulic Co Ltd		694
	104,500		Jiangsu Zhongtian Technology Co Ltd		161
	25,375		John Bean Technologies Corp		2,332
	552,031	g	John Laing Group plc		2,228
	101,023	e	Johnson Controls International plc		4,127
	578,342		Johnson Electric Holdings Ltd		1,260
	22,060	g	JOST Werke AG.		890
	177,982		JTEKT Corp		1,396
	5,082		Judges Scientific plc		319
	54,034		Jungheinrich AG.		1,860
	3,527		Kaba Holding AG.		1,915
	9,289		Kadant, Inc		1,018
	58,775		Kajaria Ceramics Ltd		442

26

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	312,713		Kajima Corp	$	3,768
	32,955		Kalpataru Power Transmission Ltd		110
	203,400	*	Kama Co Ltd		84
	38,938		Kaman Corp		1,517
	23,375		Kamei Corp		243
	32,900		Kanamoto Co Ltd		750
	104,101		Kandenko Co Ltd		850
	81,600		Kanematsu Corp		1,001
	2,450,151		KAP Industrial Holdings Ltd		356
	6,954		Kardex AG.		1,293
	23,800		Katakura Industries Co Ltd		279
	124,732	e	Kawasaki Heavy Industries Ltd		1,685
	11,844		KCC Corp		1,475
	58,223		KEC International Ltd		272
	40,727		KEI Industries Ltd		193
	73,459		Keihan Electric Railway Co Ltd		3,050
	81,358		Keller Group plc		639
	2,017,928		Kennametal, Inc		58,399
	13,175		KEPCO Engineering & Construction Co, Inc		183
	1,356,979		Keppel Corp Ltd		4,445
	233,671		Kinden Corp		4,127
	48,000		King Slide Works Co Ltd		466
	20,463		Kingspan Group plc		1,862
	60,736		KION Group AG.		5,186
	73,400		Kitz Corp		418
	84,207		Kloeckner & Co AG.		537
	67,633		Knorr-Bremse AG.		7,965
	346,762		KOC Holding AS		657
	15,822		Koenig & Bauer AG.		356
	730,770		Komatsu Ltd		16,050
	3,886	e	Komax Holding AG.		671
	48,590	e	Komori Corp		341
	73,113		Kone Oyj (Class B)		6,420
	71,029		Konecranes Oyj		2,218
	136,465		Kongsberg Gruppen ASA		2,050
	289,756		Koninklijke BAM Groep NV		366
	66,020		Korea Aerospace Industries Ltd		1,280
	4,821		Korea Electric Terminal Co Ltd		186
	434,744	*	Kornit Digital Ltd		28,202
	137,960	*	Kratos Defense & Security Solutions, Inc		2,660
	16,044		Krones AG.		992
	953,414		Kubota Corp		17,083
	151,804		Kumagai Gumi Co Ltd		3,912
	59,997		Kung Long Batteries Industrial Co Ltd		284
	86,010		Kurita Water Industries Ltd		2,844
	33,654	e	Kyokuto Kaihatsu Kogyo Co Ltd		448
	111,255		Kyowa Exeo Corp		2,905
	47,822		Kyudenko Corp		1,378
	6,128		Kyung Dong Navien Co Ltd		274
	739,328		L3Harris Technologies, Inc		125,567
	2,920		Lakshmi Machine Works Ltd		139
	451,236		Larsen & Toubro Ltd		5,533
	3,687	*,e	Lawson Products, Inc		151
	32,235	*,e	LB Foster Co (Class A)		433

27

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	82,574		Legrand S.A.	$	6,577
	50,979		Lennox International, Inc		13,897
	89,804		LG Corp		5,702
	5,708		LG Hausys Ltd		276
	128,704		LG International Corp		1,697
	47,177		Lifco AB		3,649
	10,394		LIG Nex1 Co Ltd		285
	9,485		Lincoln Electric Holdings, Inc		873
	147,552		Lindab International AB		2,564
	8,990		Lindsay Corp		869
	21,439		LISI		426
	208,486		LIXIL Group Corp		4,214
	404,788		Lockheed Martin Corp		155,147
	5,028,355		Lonking Holdings Ltd		1,340
	101,961		Lotte Corp		2,485
	16,468		LS Cable Ltd		739
	38,822		LS Industrial Systems Co Ltd		1,877
	38,057		LSI Industries, Inc		257
	49,122	e	Luxfer Holdings plc		616
	28,867	*,e	Lydall, Inc		477
	53,732		Mabuchi Motor Co Ltd		2,086
	427,515		Maeda Corp		3,133
	21,633		Maeda Kosen Co Ltd		562
	73,862		Maeda Road Construction Co Ltd		1,353
	166,463	e	Maire Tecnimont S.p.A		290
	25,839		Makino Milling Machine Co Ltd		908
	301,503	*	Makita Corp		14,430
	1,774,600		Malaysian Resources Corp BHD		201
	11,268	e	Manitou BF S.A.		217
	58,662	*	Manitowoc Co, Inc		493
	438,710		Marcopolo S.A.		209
	1,326,575		Marubeni Corp		7,531
	1,362,777		Masco Corp		75,130
	44,794	*	Masonite International Corp		4,408
	88,141	*	Mastec, Inc		3,720
	27,600		Max Co Ltd		415
	160,220	e	Maxar Technologies, Inc		3,996
	2,387		MBB SE		237
	881,679		Meggitt plc		2,926
	35,871		Meidensha Corp		553
	41,600		Meisei Industrial Co Ltd		339
	645,715		Melrose Industries plc		957
	81,731	*	Mercury Systems, Inc		6,331
	63,473	*	Meritor, Inc		1,329
	1,087,400		Metallurgical Corp of China Ltd		425
	26,200		METAWATER Co Ltd		573
	9,661	*	Middleby Corp		867
	54,694	e	Mie Kotsu Group Holdings, Inc		229
	24,521		Millat Tractors Ltd		128
	24,545		Miller Industries, Inc		750
	331,590		Minebea Co Ltd		6,316
	88,862	e	Miraito Holdings Corp		1,364
	253,854		MISUMI Group, Inc		7,117
	1,214,713		Mitsubishi Corp		29,075

28

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,337,863		Mitsubishi Electric Corp	$	18,154
	287,727		Mitsubishi Heavy Industries Ltd		6,370
	30,000		Mitsubishi Nichiyu Forklift Co Ltd		273
	25,750		Mitsuboshi Belting Co Ltd		419
	1,816,387		Mitsui & Co Ltd		31,211
	79,516	*	Mitsui Engineering & Shipbuilding Co Ltd		286
	61,131		Miura Co Ltd		2,998
	111,598		Monadelphous Group Ltd		820
	421,295		MonotaRO Co Ltd		20,926
	70,755		Moog, Inc (Class A)		4,495
	321,791		Morgan Crucible Co plc		987
	45,468		Morgan Sindall plc		667
	124,344		Mori Seiki Co Ltd		1,724
	34,300		Morita Holdings Corp		669
	93,692	e	Mota Engil SGPS S.A.		119
	390,332	*	MRC Global, Inc		1,671
	64,030		MSC Industrial Direct Co (Class A)		4,052
	49,528		MTU Aero Engines Holding AG.		8,210
	182,586		Mueller Industries, Inc		4,941
	271,889		Mueller Water Products, Inc (Class A)		2,825
	140,339	*,g	Munters Group AB		1,097
	59,372	*	MYR Group, Inc		2,207
	95,823		Nabtesco Corp		3,479
	13,933		Nachi-Fujikoshi Corp		490
	115,900		Nagase & Co Ltd		1,623
	56,500	*	Nanyang Topsec Technologies Group, Inc		192
	256,000		NARI Technology Co Ltd		744
	221,821		National Central Cooling Co PJSC		134
	8,248		National Presto Industries, Inc		675
	147,634	*	Navistar International Corp		6,428
	349,665		NBCC India Ltd		113
	225,048		NCC AB (B Shares)		4,099
	1,510,740	*,e	NEL ASA		2,747
	12,479	*,e	Nesco Holdings, Inc		52
	48,782		Nexans S.A.		2,818
	61,222	e	NFI Group, Inc		761
	241,280		NGK Insulators Ltd		3,445
	290,813		Nibe Industrier AB		7,474
	65,140		Nichias Corp		1,542
	16,100		Nichiden Corp		353
	53,245		Nichiha Corp		1,600
	24,900	*	Nichireki Co Ltd		403
	432,118		Nidec Corp		40,523
	4,785		Nihon Trim Co Ltd		173
	26,018	*	Nilfisk Holding A.S.		313
	107,976		Nippo Corp		2,986
	10,600		Nippon Carbon Co Ltd		377
	36,459		Nippon Densetsu Kogyo Co Ltd		765
	13,325		Nippon Koei Co Ltd		361
	11,100		Nippon Road Co Ltd		814
	7,472	*	Nippon Sharyo Ltd		200
	101,000	e	Nippon Sheet Glass Co Ltd		368
	19,417		Nippon Steel Trading Co Ltd		555
	60,940	e	Nippon Thompson Co Ltd		217

29

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	175,265		Nishimatsu Construction Co Ltd	$	3,481
	20,700		Nishio Rent All Co Ltd		440
	8,595		Nissei ASB Machine Co Ltd		347
	150,931		Nisshinbo Industries, Inc		1,029
	54,700		Nissin Electric Co Ltd		585
	20,400		Nitta Corp		451
	274,900	e	Nitto Boseki Co Ltd		11,755
	42,135	e	Nitto Kogyo Corp		837
	11,073		Nitto Kohki Co Ltd		220
	16,235		Nittoku Engineering Co Ltd		531
	36,254	*	NKT Holding AS		1,082
	75,968	*,e	NN, Inc		392
	2,400	*,†,e	Noble Group Ltd		0	^
	43,009		Nolato AB (B Shares)		4,172
	71,473	*	Nordex AG.		923
	84,771		Nordson Corp		16,261
	9,983		Noritake Co Ltd		314
	20,251	e	Noritsu Koki Co Ltd		314
	31,631		Noritz Corp		455
	36,765		NORMA Group		1,142
	366,019		Northrop Grumman Corp		115,475
	16,023	*,e	Northwest Pipe Co		424
	317,980	*	NOW, Inc		1,444
	455,440		NRW Holdings Ltd		673
	675,955		NSK Ltd		5,174
	447,861		NTN Corp		843
	9,344	*	NV5 Global Inc		493
	23,068		nVent Electric plc		408
	1,751,000		NWS Holdings Ltd		1,337
	12,846		Obara Corp		433
	451,813		Obayashi Corp		4,125
	224,536		OC Oerlikon Corp AG.		1,788
	5,961		OHB AG.		269
	23,121	e	Oiles Corp		336
	38,800		Okabe Co Ltd		300
	25,667	e	Okuma Holdings, Inc		1,204
	34,900		Okumura Corp		876
	2,895	e	Omega Flex, Inc		454
	232,268	*,e	Opus Global Rt		181
	25,137		Organo Corp		1,363
	120,682	*,e	Orion Energy Systems, Inc		914
	89,706	e	OSG Corp		1,437
	10,172		Oshkosh Corp		748
	335,623		OSJB Holdings Corp		784
	43,351		OSRAM Licht AG.		2,584
	570,949		Otis Worldwide Corp		35,639
	8,427		Otokar Otobus Karoseri Sanayi AS		150
	700,653		Outotec Oyj		4,883
	2,555,555		Owens Corning, Inc		175,848
	44,770		PACCAR, Inc		3,818
	205,711	*,e	PAE, Inc		1,749
	15,149		Palfinger AG.		418
	33,126		Park Aerospace Corp		362
	790,947		Parker-Hannifin Corp		160,040

30

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,633	*	Parsons Corp	$	860
	29,053	e	Patrick Industries, Inc		1,671
	206,398		Peab AB (Series B)		2,068
	27,028		Pentair plc		1,237
	1,530,800		Pentamaster Corp BHD		1,781
	1,075,446		Penta-Ocean Construction Co Ltd		7,051
	36,343		PER Aarsleff A.S.		1,525
	5,381		Pfeiffer Vacuum Technology AG.		1,116
	82,318	*	PGT, Inc		1,442
	674,322	*,e	Plug Power, Inc		9,043
	45,797		PNC Infratech Ltd		98
	43,395		PNE AG.		273
	27,834		Polycab India Ltd		310
	263,532		Polypipe Group plc		1,470
	223,705		Polyplex PCL (Foreign)		164
	13,353	e	Porr AG.		182
	20,269	e	Powell Industries, Inc		489
	876,300		Power Construction Corp of China Ltd		487
	40,858	*	PowerCell Sweden AB		1,062
	2,757	e	Preformed Line Products Co		134
	305,663		Primoris Services Corp		5,514
	22,483	*	Proto Labs, Inc		2,912
	32,075		Prysmian S.p.A.		931
	1,641,072		PT AKR Corporindo Tbk		282
	2,803,600	*,†	PT Inovisi Infracom Tbk		0	^
	2,787,588		PT Pembangunan Perumahan Tbk		155
	1,455,100	*	PT Sitara Propertindo Tbk		5
	4,004,700		PT Waskita Karya Persero Tbk		135
	2,866,172		PT Wijaya Karya		212
	632,765		QinetiQ plc		2,265
	54,011	e	Quanex Building Products Corp		996
	242,244		Quanta Services, Inc		12,805
	45,900		Raito Kogyo Co Ltd		692
	173,632		Randon Participacoes S.A.		376
	4,428		Rational AG.		3,473
	55,666		Raven Industries, Inc		1,198
	4,560,370		Raytheon Technologies Corp		262,404
	84,426	*	RBC Bearings, Inc		10,233
	426,000	*,e	Realord Group Holdings Ltd		239
	298,797		Rechi Precision Co Ltd		203
	60,981		Regal-Beloit Corp		5,724
	867,914		Reliance Worldwide Corp Ltd		2,399
	204,002	*	Resideo Technologies, Inc		2,244
	155,737		Reunert Ltd		264
	45,814		REV Group, Inc		361
	879,163		Rexel S.A.		11,023
	502,268		Rexnord Corp		14,988
	121,000		Rexon Industrial Corp Ltd		347
	51,087		Rheinmetall AG.		4,582
	18,900	e	Rheon Automatic Machinery Co Ltd		204
	58,430	e	Richelieu Hardware Ltd		1,543
	3,012	e	Rieter Holding AG.		268
	319,881		Rockwell Automation, Inc		70,591
	9,550		Rockwool International AS (B Shares)		3,664

31

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	4,807,777	e	Rolls-Royce Group plc	$	7,983
	410,958		Roper Technologies Inc		162,374
	1,501,608		Rotork plc		5,444
	159,600		Run Long Construction Co Ltd		341
	49,297		Rush Enterprises, Inc (Class A)		2,491
	3,438	e	Rush Enterprises, Inc (Class B)		152
	184,477	e	Russel Metals, Inc		2,517
	28,957		Ryobi Ltd		325
	89,305	e	Saab AB (Class B)		2,626
	383,764		Sacyr Vallehermoso S.A.		682
	303,023		Safran S.A.		29,814
	13,794	e	Salcef S.p.A		196
	79,469	*	Samsung Engineering Co Ltd		714
	248,053	*	Samsung Heavy Industries Co Ltd		1,128
	169,602	*	Samsung Techwin Co Ltd		3,672
	97,623		San Shing Fastech Corp		151
	2,291,760		Sandvik AB		44,816
	131,100		Sanki Engineering Co Ltd		1,437
	26,700		Sankyo Tateyama, Inc		250
	206,841		Sanwa Shutter Corp		2,193
	1,003,000		Sany Heavy Equipment International		593
	497,900		Sany Heavy Industry Co Ltd		1,829
	9,400		Sanyo Denki Co Ltd		432
	162,770	*	Saudi Ceramic Co		1,905
	33,327	e	Savaria Corp		370
	7,386		Schaeffler India Ltd		355
	46,376		Schindler Holding AG.		12,660
	2,675		Schindler Holding AG. (Registered)		726
	854,550		Schneider Electric S.A.		106,220
	1,104		Schweiter Technologies AG.		1,539
	2,099,521		Seazen Group Ltd		1,788
	1,800	e	SEC Carbon Ltd		101
	29,295		Sekisui Jushi Corp		616
	1,137,678		SembCorp Industries Ltd		1,126
	6,529,036	*	SembCorp Marine Ltd		706
	13,288	*	Semperit AG. Holding		279
	472,064		Senior plc		271
	142,110	*	Sensata Technologies Holding plc		6,131
	366,686		Service Stream Ltd		542
	264,991	e	Seven Network Ltd		3,441
	18,990		SFS Group AG.		1,910
	69,327	*	SGL Carbon AG.		254
	211,808	*	SGSB Group Co Ltd		80
	255,400		Shanghai Construction Group Co Ltd		116
	360,980		Shanghai Diesel Engine Co Ltd		156
	416,600		Shanghai Electric Group Co Ltd		308
	1,700,525		Shanghai Electric Group Co Ltd (Hong Kong)		460
	242,548		Shanghai Highly Group Co Ltd		135
	472,908		Shanghai Industrial Holdings Ltd		633
	116,800		Shanghai Tunnel Engineering Co Ltd		97
	180,510		Shapir Engineering and Industry Ltd		1,208
	101,935		Shenzhen Inovance Technology Co Ltd		871
	14,500		Shibuya Kogyo Co Ltd		502
	256,151		Shikun & Binui Ltd		1,149

32

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,300		Shima Seiki Manufacturing Ltd	$	400
	383,982		Shimizu Corp		2,891
	10,904	e	Shin Nippon Air Technologies Co Ltd		238
	150,361		Shin Zu Shing Co Ltd		730
	21,700		Shinko Electric Co Ltd		248
	54,700		Shinmaywa Industries Ltd		472
	53,748		Shinnihon Corp		469
	44,308		SHO-BOND Holdings Co Ltd		2,211
	2,355,469		Shun TAK Holdings Ltd		759
	25,212		Shyft Group, Inc		476
	60,400	*	Siasun Robot & Automation Co Ltd		129
	1,460,036		Siemens AG.		184,386
	458,821		Siemens Gamesa Renewable Energy		12,417
	41,221		Siemens India Ltd		708
	17,198	e	SIF Holding NV		302
	614,160	g	Signify NV		22,716
	1,350,713		Sime Darby BHD		811
	96,479		Simpson Manufacturing Co, Inc		9,374
	1,445,900		Singapore Technologies Engineering Ltd		3,685
	51,751	e	Sinko Industries Ltd		722
	989,096		Sino Thai Engineering & Construction PCL		354
	985,000		Sinopec Engineering Group Co Ltd		364
	658,829		Sinotruk Hong Kong Ltd		1,698
	42,961		Sintokogio Ltd		289
	60,815	*	SiteOne Landscape Supply, Inc		7,416
	33,655		SK C&C Co Ltd		5,682
	135,096		SK Networks Co Ltd		548
	321,687		Skanska AB (B Shares)		6,794
	243,848		SKF AB (B Shares)		5,031
	677,142		SKP Resources BHD		302
	237,517		SM Investments Corp		4,332
	55,900	*	SMC Corp		31,183
	52,660		Smiths Group plc		932
	78,818		Snap-On, Inc		11,596
	212,055	e	SNC-Lavalin Group, Inc		3,400
	44,800	e	Sodick Co Ltd		317
	1,422,813	e	Sojitz Holdings Corp		3,229
	68,738		Spirax-Sarco Engineering plc		9,788
	150,482		Spirit Aerosystems Holdings, Inc (Class A)		2,846
	144,468	*	SPX Corp		6,700
	67,784	*	SPX FLOW, Inc		2,903
	43,539		Stabilus S.A.		2,549
	50,395	e	Stadler Rail AG.		2,089
	17,348	e	Standex International Corp		1,027
	603,907	e	Stanley Black & Decker, Inc		97,954
	37,966		Star Micronics Co Ltd		504
	201,163	*	Sterling Construction Co, Inc		2,848
	794,500		STP & I PCL		85
	25,784		Sulzer AG.		2,072
	1,028,005		Sumitomo Corp		12,392
	18,097		Sumitomo Densetsu Co Ltd		425
	612,495		Sumitomo Heavy Industries Ltd		14,250
	666,617		Sumitomo Mitsui Construction Co Ltd		2,712
	177,000		Sunonwealth Electric Machine Industry Co Ltd		382

33

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	148,272	*,e	Sunrun, Inc	$	11,427
	325,048		Sunway Construction Group BHD		145
	24,300		Sunwoda Electronic Co Ltd		97
	95,800		Suzhou Gold Mantis Construction Decoration Co Ltd		137
	73,969		Sweco AB (B Shares)		4,098
	22,148	e	Systemax, Inc		530
	113,422		Tadano Ltd		929
	61,413		Taeyoung Engineering & Construction Co Ltd		519
	13,743		Taihei Dengyo Kaisha Ltd		308
	48,053		Taikisha Ltd		1,333
	132,793		Taisei Corp		4,495
	861,670		Taiwan Glass Industrial Corp		363
	17,639		Takamatsu Corp		386
	30,864		Takara Standard Co Ltd		415
	143,041		Takasago Thermal Engineering Co Ltd		2,054
	40,300		Takeuchi Manufacturing Co Ltd		802
	74,500		Takuma Co Ltd		1,276
	76,355	*,g	Talgo S.A.		306
	37,044		Tarkett S.A.		497
	43,200		Tatsuta Electric Wire and Cable Co Ltd		252
	199,000		TBEA Co Ltd		258
	1,725,573		Techtronic Industries Co		22,943
	1,707,000		Teco Electric and Machinery Co Ltd		1,763
	18,399		Teikoku Sen-I Co Ltd		468
	173,722		Tekfen Holding AS		330
	13,000		Tekken Corp		260
	126,090	*	Teledyne Technologies, Inc		39,114
	15,143		Tennant Co		914
	3,702,639	a	Terex Corp		71,683
	83,495	*	Textainer Group Holdings Ltd		1,182
	954,968		Textron, Inc		34,465
	227,156		Thales S.A.		17,025
	10,181	*,e	The ExOne Company		124
	27,482		Thermax Ltd		268
	56,729	*	Thermon Group Holdings		637
	102,971		THK Co Ltd		2,591
	1,722,478		Timken Co		93,393
	17,311		Timken India Ltd		261
	33,392	*	Titan Machinery, Inc		442
	300,000		TK Group Holdings Ltd		100
	44,669		TKH Group NV		1,630
	45,300		Toa Corp/Tokyo		728
	63,811		Tocalo Co Ltd		674
	405,756		Toda Corp		2,785
	8,815		Toenec Corp		301
	106,200		Tokai Corp		1,049
	89,802		Tokyu Construction Co Ltd		393
	33,905		Toro Co		2,846
	89,686	e	Toromont Industries Ltd		5,367
	351,037		Toshiba Corp		8,955
	21,836	*	Toshiba Machine Co Ltd		453
	35,477		Totetsu Kogyo Co Ltd		958
	116,686	e	Toto Ltd		5,377
	313,803		Toyo Construction Co Ltd		1,228

34

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	12,700		Toyo Tanso Co Ltd	$	214
	160,864		Toyota Tsusho Corp		4,524
	24,135	*	TPI Composites, Inc		699
	402,480		Trakya Cam Sanayi AS		249
	1,207,038		Trane Technologies plc		146,353
	6,710	*,e	Transcat Inc		197
	93,742		TransDigm Group, Inc		44,539
	279,750		Travis Perkins plc		3,914
	270,559		Trelleborg AB (B Shares)		4,778
	171,844	*	Trex Co, Inc		12,304
	79,253	*	Trimas Corp		1,807
	12,968		Trinity Industries, Inc		253
	81,957		Triton International Ltd		3,333
	98,600	e	Triumph Group, Inc		642
	44,435		Troax Group AB		836
	48,210		Trusco Nakayama Corp		1,221
	45,930		Tsubaki Nakashima Co Ltd		350
	26,290		Tsubakimoto Chain Co		618
	49,800	e	Tsugami Corp		585
	25,700		Tsukishima Kikai Co Ltd		313
	18,514		Tsurumi Manufacturing Co Ltd		321
	75,610	*	Tutor Perini Corp		842
	79,133		Ultra Electronics Holdings		2,127
	7,883	*	Ultralife Corp		47
	10,000		Union Tool Co		306
	147,537		United Integrated Services Co Ltd		1,000
	165,883	*	United Rentals, Inc		28,947
	46,662	*	Univar Solutions Inc		788
	62,188		Uponor Oyj		1,087
	104,100		Ushio, Inc		1,325
	302,564	e	Valmet Corp		7,463
	30,935		Valmont Industries, Inc		3,842
	20,274	*,e	Varta AG.		2,829
	59,619	g	VAT Group AG.		11,373
	55,988	*	Vectrus, Inc		2,128
	121,569		Veidekke ASA		1,565
	20,714	*,e	Veritiv Corp		262
	316,133	*	Vertiv Holdings Co		5,475
	65,382		Vestas Wind Systems AS		10,566
	243,830		Vesuvius plc		1,243
	92,317		V-Guard Industries Ltd		214
	24,747	*	Vicor Corp		1,924
	782,073		Vinci S.A.		65,347
	88,267	*,e	Virgin Galactic Holdings, Inc		1,697
	43,535	*,e	Vivint Solar, Inc		1,844
	92,143		Voltas Ltd		853
	122,172		Voltronic Power Technology Corp		4,150
	216,518		Volvo AB (B Shares)		4,159
	9,170		Vossloh AG.		362
	583,977	g	VPower Group International Holdings Ltd		215
	433,793		W.W. Grainger, Inc		154,764
	81,027		Wabash National Corp		969
	1,119,102		Wabtec Corp		69,250
	35,506		Wacker Construction Equipment AG.		723

35

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	37,900		Wakita & Co Ltd	$	380
	2,562,472		Walsin Lihwa Corp		1,428
	58,984	e	Wartsila Oyj (B Shares)		463
	14,690		Washtec AG.		637
	47,675		Watsco, Inc		11,103
	86,578		Watts Water Technologies, Inc (Class A)		8,671
	794,733		Weg S.A.		9,298
	981,284		Weichai Power Co Ltd		1,986
	200,300		Weichai Power Co Ltd (Class A)		446
	292,675		Weir Group plc		4,711
	181,894	*	Welbilt, Inc		1,120
	79,815	*	WESCO International, Inc		3,513
	2,279	*	Willis Lease Finance Corp		42
	609,741	*	WillScot Mobile Mini Holdings Corp		10,170
	48,971		Wilson Bayly Holmes-Ovcon Ltd		325
	80,187		Woodward Inc		6,428
	105,005	e	WSP Global, Inc		6,895
	417,000		XCMG Construction Machinery Co Ltd		341
	82,300		Xiamen C & D, Inc		104
	201,400		Xinjiang Goldwind Science & Technology Co Ltd		304
	941,944		Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		829
	117,112		Xxentria Technology Materials Corp		206
	24,731		Xylem, Inc		2,080
	27,772	e	Yahagi Construction Co Ltd		246
	37,080		YAMABIKO Corp		454
	38,800	e	Yamashin-Filter Corp		399
	64,370		Yamazen Corp		652
	2,390,300		Yangzijiang Shipbuilding		1,746
	155,326	e	YIT Oyj		936
	56,879		Yokogawa Bridge Holdings Corp		1,057
	18,252		Yuasa Trading Co Ltd		570
	116,000		Yungtay Engineering Co Ltd		222
	40,600		Yurtec Corp		249
	18,160		Yushin Precision Equipment Co Ltd		121
	10,438	*,†	Yuyang DNU Co Ltd		11
	213,549		Zardoya Otis S.A.		1,301
	23,381		Zehnder Group AG.		1,131
	120,700		Zhejiang Chint Electrics Co Ltd		538
	19,720		Zhejiang Dingli Machinery Co Ltd		288
	110,760		Zhejiang Sanhua Intelligent Controls Co Ltd		365
	54,700		Zhejiang Weixing New Building Materials Co Ltd		129
	194,600		Zhengzhou Coal Mining Machinery Group Co Ltd		211
	32,400		Zhengzhou Yutong Bus Co Ltd		75
	35,500		Zhongji Innolight Co Ltd		264
	279,741		Zhuzhou CSR Times Electric Co Ltd		940
	406,400		Zoomlion Heavy Industry Science and Technology Co Ltd		486
	32,506		Zumtobel AG.		209
			TOTAL CAPITAL GOODS		7,368,726
COMMERCIAL & PROFESSIONAL SERVICES - 1.3%
	13,400	*	51job, Inc (ADR)		1,045
	157,350		ABM Industries, Inc		5,768

36

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	84,117	*	Acacia Research (Acacia Technologies)	$	292
	148,855		ACCO Brands Corp		863
	144,762		Adecco S.A.		7,638
	231,703		ADT, Inc		1,893
	59,307	*	Advanced Disposal Services, Inc		1,793
	24,520		Aeon Delight Co Ltd		680
	108,648		AF AB		3,069
	288,209		Aggreko plc		1,370
	8,447	*	Akerna Corp		31
	13,928	e	Akka Technologies S.A.		270
	413,250	g	A-Living Services Co Ltd		2,114
	535,920		ALS Ltd		3,578
	42,230		Altech Corp		824
	5,887		Amadeus Fire AG		730
	278,475	*,e,g	API Group Corp		3,963
	160,531		Applus Services S.A.		1,201
	77,617	*	ASGN Inc		4,933
	285,503		Babcock International Group		921
	11,973		Barrett Business Services, Inc		628
	56,279		BayCurrent Consulting, Inc		7,850
	37,515	g	Befesa S.A.		1,505
	190,000		Beijing Originwater Technology Co Ltd		244
	37,400		Bell System24 Holdings, Inc		631
	285,182		Benefit One, Inc		7,225
	6,411		Bertrandt AG.		243
	17,462	e	BG Staffing, Inc		148
	338,694	g	Biffa plc		948
	30,628		Bilfinger Berger AG.		559
	406,163	e	Bingo Industries Ltd		709
	48,923		Brady Corp (Class A)		1,958
	1,420,028		Brambles Ltd		10,782
	223,906	g	Bravida Holding AB		2,730
	62,604	*	BrightView Holdings, Inc		714
	128,332		Brink’s Co		5,273
	26,044	e	Brunel International NV		197
	266,571		Bureau Veritas S.A.		6,009
	201,926	*	Calisen plc		431
	1,797,106	*	Capita Group plc		707
	80,364	*	Casella Waste Systems, Inc (Class A)		4,488
	98,650	*,e	Casper Sleep, Inc		709
	110,488	e	Caverion Corp		788
	178,062	*	CBIZ, Inc		4,072
	45,159	*,e	Ceco Environmental Corp		329
	9,188		Central Security Patrols Co Ltd		311
	20,300		Centre Testing International Group Co Ltd		73
	10,832		Cewe Color Holding AG.		1,187
	1,864,303		China Everbright International Ltd		1,066
	168,477	*,e	Cimpress plc		12,663
	115,678		Cintas Corp		38,501
	1,258,702	*	Clarivate Analytics plc		39,007
	74,336	*	Clean Harbors, Inc		4,165
	78,000		Cleanaway Co Ltd		426
	2,165,109		Cleanaway Waste Management Ltd		3,269
	1,855		Compx International, Inc		28

37

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	108,650	g	Coor Service Management Holding AB	$	739
	304,470	*	Copart, Inc		32,018
	94,066	*	CoStar Group, Inc		79,816
	1,313,000		Country Garden Services Holdings Co Ltd		8,527
	156,223		Covanta Holding Corp		1,211
	31,467		CRA International, Inc		1,179
	1,320,000	*,†	CT Environmental Group Ltd		2
	356,095		Dai Nippon Printing Co Ltd		7,218
	43,721		Daiseki Co Ltd		1,094
	85,276		Deluxe Corp		2,194
	108,195	e	Derichebourg		320
	39,924		DKSH Holding AG.		2,781
	777,370		Downer EDI Ltd		2,471
	119,229	*	Dun & Bradstreet Holdings, Inc		3,059
	44,498	e	Duskin Co Ltd		1,214
	358,000		Dynagreen Environmental Protection Group Co Ltd		185
	207,005		Elis S.A.		2,613
	67,642	e	Emerald Holding, Inc		138
	33,620		en-japan, Inc		851
	43,164		Ennis, Inc		753
	361,680		Equifax, Inc		56,748
	594,000		Ever Sunshine Lifestyle Services Group Ltd		1,183
	1,092,138		Experian Group Ltd		41,036
	55,943		Exponent, Inc		4,030
	22,411	e	Fila S.p.A		197
	23,796	*	Forrester Research, Inc		780
	61,514	*,e	Franklin Covey Co		1,091
	568,100		Frontken Corp BHD		500
	135,418	*	FTI Consulting, Inc		14,350
	70,265		Fullcast Co Ltd		1,153
	39,954		Funai Soken Holdings, Inc		945
	10,275		GL Events		100
	22,752	*	GP Strategies Corp		219
	89,900	*	Grace Technology, Inc		4,527
	1,396,000		Greentown Service Group Co Ltd		1,730
	1,726,620		Group 4 Securicor plc		4,453
	2,662		Groupe CRIT		158
	1,869,668		Hays plc		2,713
	240,797		Healthcare Services Group		5,184
	34,261		Heidrick & Struggles International, Inc		673
	23,806	*	Heritage-Crystal Clean, Inc		318
	139,878		Herman Miller, Inc		4,219
	65,655		HNI Corp		2,060
	462,082		HomeServe plc		7,363
	78,594	*	Huron Consulting Group, Inc		3,091
	298,018	*,e	Hyve Group plc		248
	202,902	*	IAA, Inc		10,565
	56,869		ICF International, Inc		3,499
	620,529		IHS Markit Ltd		48,718
	12,003	e	Insource Co Ltd		344
	70,976		Insperity, Inc		4,648
	325,655		Interface, Inc		1,993
	210,327		Intertek Group plc		17,162
	99,511	g	Intertrust NV		1,694

38

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	815,126	e	Intrum Justitia AB	$	19,976
	233,782		IPH Ltd		1,211
	111,144		IR Japan Holdings Ltd		14,086
	175,849		ISS AS		2,315
	16,600		JAC Recruitment Co Ltd		208
	606,800		Japan Elevator Service Holdings Co Ltd		21,165
	330,500		JMT Network Services PCL		335
	29,200		JOYY, Inc (ADR)		2,356
	9,800	*,e	JTOWER, Inc		517
	390,103		KAR Auction Services, Inc		5,618
	30,000		KD Holding Corp		220
	52,522	e	Kelly Services, Inc (Class A)		895
	67,792		KEPCO Plant Service & Engineering Co Ltd		1,569
	117,224		Kforce, Inc		3,771
	152,988		Kimball International, Inc (Class B)		1,613
	80,201		Knoll, Inc		967
	17,594		Koentec Co Ltd		129
	94,408		Kokuyo Co Ltd		1,190
	84,974		Korn/Ferry International		2,464
	22,869	g	L&T Technology Services Ltd		502
	251,320	g	Laurus Labs Ltd		982
	38,389	e	Link And Motivation, Inc		145
	84,592		Loomis AB		2,314
	17,152		Maharah Human Resources Co		368
	113,869		Manpower, Inc		8,350
	26,484	*,e	Mastech Holdings, Inc		477
	14,962	e	Matsuda Sangyo Co Ltd		220
	97,915		Matthews International Corp (Class A)		2,189
	83,023		McGrath RentCorp		4,947
	74,378		McMillan Shakespeare Ltd		441
	28,428		Meitec Corp		1,450
	361,907		Michael Page International plc		1,745
	53,212	*	Mistras Group, Inc		208
	1,127,174		Mitie Group		477
	40,244		Mitsubishi Pencil Co Ltd		525
	11,683	*	Montrose Environmental Group, Inc		278
	74,764	e	Morneau Sobeco Income Fund		1,561
	43,237		Moshi Moshi Hotline, Inc		546
	54,006		MSA Safety, Inc		7,246
	30,356		NICE Information Service Co Ltd		511
	10,404		Nichiban Co Ltd		163
	58,114		Nielsen NV		824
	223,835		Nihon M&A Center, Inc		12,805
	23,300		Nippon Kanzai Co Ltd		441
	218,111		Nippon Parking Development Co Ltd		272
	6,676	e	NL Industries, Inc		28
	222,248		Nomura Co Ltd		1,654
	63,428	e	Okamura Corp		448
	283,395		Omni Bridgeway Ltd		803
	126,509		Outsourcing, Inc		1,174
	20,402		Oyo Corp		242
	96,770		Park24 Co Ltd		1,571
	23,800		Pasona Group, Inc		363
	32,142		Pilot Corp		945

39

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	235,386		Pitney Bowes, Inc	$	1,250
	312,618	*,e	Precigen, Inc		1,094
	103,427		Prestige International, Inc		939
	513,742	g	Prosegur Cash S.A.		420
	272,331		Prosegur Cia de Seguridad S.A.		653
	59,830		Quad Graphics, Inc		181
	61,452	*,g	Quess Corp Ltd		345
	380,503	*	Raksul, Inc		15,515
	111,042		Randstad Holdings NV		5,790
	3,058,721		Recruit Holdings Co Ltd		121,478
	5,637	*,e	Red Violet, Inc		104
	1,935,456		RELX plc		43,088
	766,679		RELX plc (London)		17,065
	38,900	*	Renrui Human Resources Technology Holdings Ltd		104
	1,929,690		Rentokil Initial plc		13,338
	304,566		Republic Services, Inc		28,431
	51,419		Resources Connection, Inc		594
	119,656		Restore plc		495
	169,987		Ritchie Bros Auctioneers, Inc		10,081
	162,437	e	Robert Half International, Inc		8,599
	214,469		Rollins, Inc		11,622
	197,298	e	RWS Holdings plc		1,436
	16,143		S1 Corp (Korea)		1,210
	27,852		Sato Corp		595
	230,539		Secom Co Ltd		21,098
	562,647		Securitas AB (B Shares)		8,601
	309,874		Seek Ltd		4,780
	1,360,795		Serco Group plc		2,228
	122,207		SG Fleet Group Ltd		135
	5,723		SGS S.A.		15,337
	30,200		Shanghai M&G Stationery, Inc		302
	100,500	*,†	Shanghai Youngsun Investment Co Ltd		84
	166,400		Shenzhen Dongjiang Environmental Co Ltd		112
	133,354		SmartGroup Corp Ltd		551
	291,587		SMS Co Ltd		8,467
	27,598	e	Societe BIC S.A.		1,447
	52,890		Sohgo Security Services Co Ltd		2,520
	78,628	*	SP Plus Corp		1,411
	132,351		SPIE S.A.		2,372
	66,732		S-Pool, Inc		535
	59,743		Sporton International, Inc		504
	121,622		Stantec, Inc		3,693
	155,200		Steelcase, Inc (Class A)		1,569
	272,263	*	Stericycle, Inc		17,169
	58,000		Sunny Friend Environmental Technology Co Ltd		462
	6,723		Synergie S.A		190
	231,660		Taiwan Secom Co Ltd		675
	254,340		Taiwan-Sogo Shinkong Security Corp		319
	41,000		Tanseisha Co Ltd		277
	61,957	*	Team, Inc		341
	8,844	*	TeamLease Services Ltd		264
	148,418		TechnoPro Holdings, Inc		9,293
	141,553		Teleperformance		43,641
	136,024		Temp Holdings Co Ltd		2,222

40

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,948		Tetra Tech, Inc	$	5,725
	161,562		Thomson Reuters Corp		12,893
	475,000		Times Neighborhood Holdings Ltd		634
	25,912		Tinexta S.p.A		504
	123,301		Tomra Systems ASA		5,341
	52,206		Toppan Forms Co Ltd		497
	204,750		Toppan Printing Co Ltd		2,894
	160,832		Transcontinental, Inc		1,986
	357,740		TransUnion		30,097
	52,803	*	TriNet Group, Inc		3,132
	54,523	*	TrueBlue, Inc		845
	24,362		Trust Tech, Inc		264
	8,700		Uchida Yoko Co Ltd		433
	24,348		Unifirst Corp		4,611
	29,499	e	United Technology Holdings Co Ltd		1,007
	50,215		US Ecology, Inc		1,641
	240,890		Verisk Analytics, Inc		44,639
	34,478		Viad Corp		718
	144,396	*,e	Vivint Smart Home, Inc		2,466
	14,190	e	VSE Corp		435
	470,039		Waste Connections, Inc		48,790
	1,000,405		Waste Management, Inc		113,216
	10,200		WDB Holdings Co Ltd		299
	6,900		Weathernews, Inc		393
	12,384	*,e	Willdan Group, Inc		316
	183,547		Wolters Kluwer NV		15,657
	8,700		World Holdings Co Ltd		173
	12,500		YAMADA Consulting Group Co Ltd		144
	49,500	e	Yumeshin Holdings Co Ltd		326
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		1,472,546
CONSUMER DURABLES & APPAREL - 2.2%
	700,000		361 Degrees International Ltd		90
	21,130		Accell Group		586
	47,682		Acushnet Holdings Corp		1,603
	271,417		Adidas-Salomon AG.		87,652
	145,696		Aksa Akrilik Kimya Sanayii		134
	9,848		Amber Enterprises India Ltd		273
	72,368	*,e	American Outdoor Brands, Inc		943
	664,157	*	AmTRAN Technology Co Ltd		228
	1,041,335		Anta Sports Products Ltd		10,868
	4,060,000	*,e	Apollo Future Mobility Group Ltd		223
	40,369		Arezzo Industria e Comercio S.A.		391
	92,574	*	Aritzia, Inc		1,212
	169,573		Asics Corp		2,371
	92,338		Bafang Electric Suzhou Co Ltd		2,159
	26,477		Bajaj Electricals Ltd		181
	727,041		Barratt Developments plc		4,459
	29,341		Bata India Ltd		526
	54,425	*	Beazer Homes USA, Inc		718
	180,839		Bellway plc		5,481
	42,179	e	Beneteau S.A.		340
	16,708		Berkeley Group Holdings plc		911
	270,600		Betsson AB		2,074

41

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	92,953	e	Bonava AB	$	772
	1,582,000		Bosideng International Holdings Ltd		494
	251,465		Bovis Homes Group plc		1,843
	108,798		Breville Group Ltd		1,974
	45,299		BRP, Inc (Toronto)		2,393
	38,212	e	Brunello Cucinelli S.p.A		1,165
	301,042		Brunswick Corp		17,734
	135,604		Burberry Group plc		2,718
	6,327,683		Cairn Homes plc		5,864
	5,552,409		Cairn Homes plc (London)		5,062
	152,469		Callaway Golf Co		2,918
	64,188	*,e	Canada Goose Holdings, Inc		2,062
	1,271,706	*	Capri Holdings Ltd		22,891
	16,426		Carter’s, Inc		1,422
	136,616	*,e	Casio Computer Co Ltd		2,212
	17,114	*	Cavco Industries, Inc		3,086
	35,629		CCC S.A.		437
	47,915	*	Century Communities, Inc		2,028
	18,725	e	Chargeurs S.A.		367
	2,884,400	e	China Dongxiang Group Co		359
	376,698		China Lilang Ltd		207
	20,300		Chofu Seisakusho Co Ltd		425
	384,357		Chow Sang Sang Holding		414
	131,151		Cia Hering		391
	640,022		Cie Financiere Richemont S.A.		42,973
	1,506,000	*	Citychamp Watch & Jewellery Group Ltd		305
	40,749		Clarus Corp		575
	1,559,078		Coats Group plc		1,122
	5,327		Columbia Sportswear Co		463
	68,997		Construtora Tenda S.A.		349
	12,636		Corona Corp		119
	704,000	e,g	Cosmo Lady China Holdings Co Ltd		67
	911,890	g	Countryside Properties plc		3,955
	25,654		COWELL FASHION Co Ltd		135
	275,782		Crest Nicholson Holdings plc		703
	226,450	*	CROCS, Inc		9,676
	443,796		Crompton Greaves Consumer Electricals Ltd		1,761
	656,375	g	Crystal International Group Ltd		172
	1,268		Cuckoo Electronics Co Ltd		107
	286,117		Cyrela Brazil Realty S.A.		1,184
	40,532	*	Deckers Outdoor Corp		8,917
	119,063		De’Longhi S.p.A.		4,071
	10,188		Delta-Galil Industries Ltd		164
	34,602		Descente Ltd		565
	2,586		Dixon Technologies India Ltd		308
	972,374		DR Horton, Inc		73,541
	37,463	*	Duni AB		377
	92,950		Eclat Textile Co Ltd		1,162
	206,877		Electrolux AB (Series B)		4,822
	255,052	*	Electrolux Professional AB		1,021
	15,786	e	Escalade, Inc		289
	139,357		ES-Con Japan Ltd		1,156
	720,682		Essilor International S.A.		98,111
	42,996		Ethan Allen Interiors, Inc		582

42

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	95,767		Even Construtora e Incorporadora S.A.	$	190
	93,898		Ez Tec Empreendimentos e Participacoes S.A.		589
	6,290		F&F Co Ltd		478
	189,124		Feng TAY Enterprise Co Ltd		1,142
	24,568		Fila Korea Ltd		768
	1,229		Forbo Holding AG.		2,017
	366,052		Formosa Taffeta Co Ltd		397
	81,381		Forus S.A.		95
	76,452	*	Fossil Group, Inc		439
	21,850		Foster Electric Co Ltd		235
	25,908		France Bed Holdings Co Ltd		218
	339,999	*,†,e	Fuguiniao Co Ltd		0	^
	10,500		Fujibo Holdings Inc		366
	66,021		Fujitsu General Ltd		1,921
	106,032		Fulgent Sun International Holding Co Ltd		401
	79,568		Fusheng Precision Co Ltd		485
	60,097		Games Workshop Group plc		7,885
	129,313	*	Garmin Ltd		12,267
	74,394	*,e	Genasys, Inc		458
	37,792	*	GeneOne Life Science, Inc		958
	283,639		Giant Manufacturing Co Ltd		2,688
	71,806	*,e	G-III Apparel Group Ltd		941
	184,543		Gildan Activewear, Inc		3,637
	3,287,476	*,g	Glenveagh Properties plc		2,690
	2,700,000	*,e,g	Glenveagh Properties plc (London)		2,155
	62,047	e	Goldwin, Inc		4,932
	108,091	*	GoPro, Inc		490
	1,794,090		Gree Electric Appliances, Inc of Zhuhai		14,126
	162,459	*	Green Brick Partners, Inc		2,616
	288,031		Grendene S.A.		393
	90,210		Guararapes Confeccoes S.A.		224
	16,318		Gunze Ltd		610
	2,168,944		Haier Electronics Group Co Ltd		7,885
	10,427	e	Hamilton Beach Brands Holding Co		203
	12,812		Handsome Co Ltd		330
	141,413		Hanesbrands, Inc		2,227
	319,109		Hangzhou Robam Appliances Co Ltd		1,540
	16,158		Hansae Co Ltd		249
	80,360		Hanssem Co Ltd		7,345
	26,314		Hanwha Systems Co Ltd		256
	207,162		Hasbro, Inc		17,136
	792,472		Haseko Corp		10,438
	61,789		Heiwa Corp		1,016
	27,123	*	Helen of Troy Ltd		5,249
	24,654	*,†	Hellenic Duty Free Shops S.A.		0	^
	20,614		Hermes International		17,754
	6,160		Hitachi Home & Life Solutions India Ltd		186
	42,560	*	HLB, Inc		3,752
	19,753	e	Hooker Furniture Corp		510
	466,000	*,†	HOSA International Ltd		1
	35,820		HS Industries Co Ltd		254
	65,755		Hugo Boss AG.		1,644
	766,827		Husqvarna AB (B Shares)		8,432
	16,527		Hwaseung Enterprise Co Ltd		197

43

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,444		Hyosung TNC Co Ltd	$	597
	81,118		IG Design Group plc		444
	304,121		Iida Group Holdings Co Ltd		6,155
	90,577	*	Installed Building Products, Inc		9,216
	29,962	*,e	iRobot Corp		2,274
	49,310		Japan Wool Textile Co Ltd		477
	63,937		JM AB		1,981
	144,994		JNBY Design Ltd		141
	81,000		Johnson Health Tech Co Ltd		187
	24,247		Johnson Outdoors, Inc		1,986
	38,800		Joyoung Co Ltd		231
	183,600		JVC KENWOOD Holdings, Inc		256
	19,107		Kaufman & Broad S.A.		759
	130,850		KB Home		5,023
	1,073,244		Kinpo Electronics		392
	51,956		KMC Kuei Meng International In		342
	434,200		Konka Group Co Ltd		127
	83,563		Kontoor Brands, Inc		2,022
	15,849		KPR Mill Ltd		140
	14,500		Kurabo Industries Ltd		266
	13,626	*,e	Lakeland Industries, Inc		270
	70,377		La-Z-Boy, Inc		2,226
	520,776		Lealea Enterprise Co Ltd		217
	72,700		LEC, Inc		1,164
	6,851	*,e	Legacy Housing Corp		94
	175,207	e	Leggett & Platt, Inc		7,213
	351,293		Lennar Corp (Class A)		28,694
	21,124		Lennar Corp (Class B)		1,387
	158,467	e	Levi Strauss & Co		2,123
	53,874		LG Electronics, Inc		4,220
	17,139		LG Fashion Corp		196
	18,712	*	LGI Homes, Inc		2,174
	1,913,000		Li Ning Co Ltd		9,001
	7,312	e	Lifetime Brands, Inc		69
	8,496	*,e	Lovesac Co		235
	601		LPP S.A.		1,021
	319,829	*	Lululemon Athletica, Inc		105,342
	164,678		Luthai Textile Co Ltd		85
	334,312		LVMH Moet Hennessy Louis Vuitton S.A.		156,425
	49,042	*	M/I Homes, Inc		2,258
	192,271		Makalot Industrial Co Ltd		1,142
	93,285	*	Malibu Boats, Inc		4,623
	1,706,184		Man Wah Holdings Ltd		2,285
	6,442	*,†	Mariella Burani S.p.A.		0
	6,601	e	Marine Products Corp		103
	14,226		Mars Engineering Corp		240
	15,186	*	MasterCraft Boat Holdings, Inc		266
	1,675,042	*	Mattel, Inc		19,598
	36,858	*,g	Mavi Giyim Sanayi Ve Ticaret AS.		184
	95,913		Maytronics Ltd		1,475
	605,581	g	McCarthy & Stone plc		544
	84,357		MDC Holdings, Inc		3,973
	201,000		Merida Industry Co Ltd		1,629
	60,201	*	Meritage Homes Corp		6,646

44

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	217		Metall Zug AG.(B Shares)	$	309
	266,296		MIPS AB		11,860
	19,400		Mizuno Corp		351
	76,826	*	Mohawk Industries, Inc		7,497
	918,074		Moncler S.p.A		37,569
	26,521		Movado Group, Inc		264
	300,114		MRV Engenharia e Participacoes S.A.		860
	6,868		Nacco Industries, Inc (Class A)		125
	167,230		Namco Bandai Holdings, Inc		12,253
	38,000		Nan Liu Enterprise Co Ltd		308
	201,962	*,e	Nautilus, Inc		3,466
	32,700		NavInfo Co Ltd		71
	62,740	*,g	Neinor Homes S.A.		802
	2,314,065		Newell Brands Inc		39,709
	77,000		Nien Made Enterprise Co Ltd		920
	3,256,317		Nike, Inc (Class B)		408,798
	211,565	e	Nikon Corp		1,428
	125,836		Nobia AB		841
	20,701	*	NVR, Inc		84,525
	106,331		Onward Kashiyama Co Ltd		275
	14,700		Oppein Home Group, Inc		233
	45,627		Orient Electric Ltd		113
	265,302		Oriental Weavers		99
	26,212		Oxford Industries, Inc		1,058
	1,060,778		Pacific Textile Holdings Ltd		495
	3,039		Page Industries Ltd		880
	104,456		Paiho Shih Holdings Corp		102
	2,367,713		Panasonic Corp		20,168
	13,291		Pandora AS		959
	402,000	*,†	Peace Mark Holdings Ltd		0
	239,341	*	Peloton Interactive, Inc		23,752
	163,752		Persimmon plc		5,218
	176,933	*	Peter England Fashions and Retail Ltd		321
	20,656		PIK Group (GDR)		151
	102,674		Polaris Inc		9,686
	1,201,041		Pou Chen Corp		1,091
	14,411,192	e	Prada S.p.A		56,702
	141,323		Pressance Corp		1,877
	547,863		Pulte Homes, Inc		25,361
	211,807		Puma AG. Rudolf Dassler Sport		19,040
	135,610	*	Purple Innovation, Inc		3,371
	58,888		PVH Corp		3,512
	372,000	e	Q Technology Group Co Ltd		419
	196,100		Qingdao Haier Co Ltd		632
	285,000		Quang Viet Enterprise Co Ltd		1,103
	100,205		Rajesh Exports Ltd		608
	7,085		Ralph Lauren Corp		482
	315,758		Redrow plc		1,643
	46,153		Relaxo Footwears Ltd		418
	68,470		Rinnai Corp		6,679
	11,340		Rocky Brands, Inc		282
	391,000	*	Roo Hsing Co Ltd		167
	308,000		Ruentex Industries Ltd		691
	56,919	e	Salvatore Ferragamo Italia S.p.A		838

45

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,561,800	e,g	Samsonite International	$	1,586
	52,124		Sangetsu Co Ltd		804
	52,200		Sankyo Co Ltd		1,367
	15,612	*	Sanlorenzo S.p.A		311
	21,107		SEB S.A.		3,433
	161,682		Sega Sammy Holdings, Inc		1,971
	27,900	e	Seiko Holdings Corp		377
	47,393		Seiren Co Ltd		698
	250,367		Sekisui Chemical Co Ltd		4,005
	696,225		Sekisui House Ltd		12,338
	149,794		Sharp Corp		1,863
	904,924		Shenzhou International Group Holdings Ltd		15,410
	64,453		Shimano, Inc		12,723
	8,114		Sioen Industries NV		179
	23,871	*	Skechers U.S.A., Inc (Class A)		721
	163,707	*	Skyline Champion Corp		4,382
	1,257,900	*	Skyworth Digital Holdings Ltd		363
	84,523		Smith & Wesson Brands, Inc		1,312
	488,096	*	Sonos, Inc		7,409
	3,170,679		Sony Corp		243,007
	615,798	*,g	Spin Master Corp		13,291
	67,700		Starts Corp, Inc		1,487
	3,660,059	*,e	Steinhoff International Holdings NV		153
	493,500		Stella International Holdings Ltd		485
	212,510		Steven Madden Ltd		4,144
	45,311		Sturm Ruger & Co, Inc		2,771
	400,697		Sumitomo Forestry Co Ltd		6,395
	30,900		Suofeiya Home Collection Co Ltd		120
	17,099		Superior Uniform Group, Inc		397
	11,911		Swatch Group AG.		2,776
	2,134		Swatch Group AG. (Registered)		96
	13,133		Symphony Ltd		169
	958,602		Tainan Spinning Co Ltd		381
	639,600		Taiwan Paiho Ltd		1,504
	14,700	e	Tama Home Co Ltd		194
	56,500		Tamron Co Ltd		895
	139,803		Tapestry, Inc		2,185
	312,773	*	Taylor Morrison Home Corp		7,691
	3,396,069		Taylor Wimpey plc		4,749
	536,900		TCL Corp		488
	1,944,973		TCL Multimedia Technology Holdings Ltd		1,507
	15,601	*,g	TCNS Clothing Co Ltd		84
	1	*	Technicolor S.A.		0	^
	205,729	g	Technogym S.p.A		1,759
	267,038	*	Tempur Sealy International, Inc		23,817
	233,000		Texhong Textile Group Ltd		168
	115,016	g	Thule Group AB		3,795
	292,028		Titan Industries Ltd		4,767
	16,639	e	Tod’s S.p.A.		485
	8,290		Token Corp		613
	153,055		Toll Brothers, Inc		7,448
	70,046		TomTom NV		525
	97,301		Tomy Co Ltd		839
	89,986	*	TopBuild Corp		15,360

46

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	392,348	*	TRI Pointe Homes, Inc	$	7,117
	75,653		Trisul S.A.		145
	59,164		TSI Holdings Co Ltd		183
	2,841		TTK Prestige Ltd		236
	81,888		Tupperware Brands Corp		1,651
	76,084	*,e	Turtle Beach Corp		1,385
	32,994	*	Under Armour, Inc (Class A)		371
	2,061,668	*,e	Under Armour, Inc (Class C)		20,287
	25,912	*	Unifi, Inc		333
	35,952	*	Universal Electronics, Inc		1,357
	27,143		Universal Entertainment Corp		496
	4,921		VAN DE Velde		132
	11,649		Vardhman Textiles Ltd		127
	50,370	*	Vera Bradley, Inc		308
	65,237	*	Vestel Elektronik Sanayi		146
	388,817		VF Corp		27,314
	119,263	*,e	Victoria plc		460
	31,542		VIP Industries Ltd		124
	151,039	*	Vista Outdoor, Inc		3,048
	87,096		Vivara Participacoes S.A.		368
	28,625	*,e	VOXX International Corp (Class A)		220
	2,584	*	V-ZUG Holding AG.		211
	46,213		Wacoal Holdings Corp		874
	347,500		Weiqiao Textile Co		79
	284,354		Welspun India Ltd		259
	963,564	e	Whirlpool Corp		177,190
	7,321		Winix, Inc		122
	127,307		Wolverine World Wide, Inc		3,290
	23,378		Woongjin Coway Co Ltd		1,590
	23,400		Xiamen Intretech, Inc		201
	1,105,383		XTEP International Holdings		329
	128,696		Yamaha Corp		6,172
	367,215	*	YETI Holdings, Inc		16,642
	14,400		Yondoshi Holdings, Inc		241
	58,100	e	Yonex Co Ltd		349
	20,124		Youngone Corp		477
	4,971		Youngone Holdings Co Ltd		157
	930,000		Yue Yuen Industrial Holdings		1,507
	38,700		Zhejiang Semir Garment Co Ltd		46
	15,000		Zhejiang Supor Co Ltd		174
	8,252		Zinus, Inc		580
	36,700		Zojirushi Corp		609
			TOTAL CONSUMER DURABLES & APPAREL		2,518,052
CONSUMER SERVICES - 2.0%
	428,316		888 Holdings plc		1,388
	96,239	g	AcadeMedia AB		794
	31,830	*,e	Accel Entertainment, Inc		341
	369,707		Accor S.A.		10,348
	150,041	*	Adtalem Global Education, Inc		3,682
	8,072		Aeon Fantasy Co Ltd		126
	924,499	*	Afya Ltd		25,183
	1,757,138	*,e	Alsea SAB de C.V.		1,675
	5,669	*	Altus San Nicolas Corp		1

47

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	42,484	*	American Public Education, Inc	$	1,198
	72,006	*	AmRest Holdings SE		328
	377,642		ARAMARK Holdings Corp		9,989
	17,060	e	ARCLAND SERVICE Co Ltd		343
	230,503	*	Arco Platform Ltd		9,414
	8,428,066	a,e	Arcos Dorados Holdings, Inc		34,555
	540,272		Aristocrat Leisure Ltd		11,783
	16,392	*,e	Aspen Group, Inc		183
	6,774,106		Asset World Corp PCL		753
	105,300	e	Atom Corp		864
	135,717		Autogrill S.p.A.		613
	43,158	*,g	Basic-Fit NV		1,028
	55,934		Benesse Holdings, Inc		1,440
	688,761		Berjaya Sports Toto BHD		340
	4,141		bet-at-home.com AG.		172
	64	*,e	Biglari Holdings, Inc (A Shares)		31
	7,775	*	Biglari Holdings, Inc (B Shares)		692
	34,087		BJ’s Restaurants, Inc		1,004
	157,578		BK Brasil Operacao e Assessoria a Restaurantes S.A.		301
	3,434,100		Bloomberry Resorts Corp		522
	144,661		Bloomin’ Brands, Inc		2,209
	8,639	e	Bluegreen Vacations Corp		42
	214,640		Boyd Gaming Corp		6,587
	88,841	*	Bright Horizons Family Solutions		13,507
	18,627	e	Bright Scholar Education Holdings Ltd (ADR)		119
	295,958		Brinker International, Inc		12,643
	10,300	e	BRONCO BILLY Co Ltd		235
	4,100		BTG Hotels Group Co Ltd		11
	451,468	*,e	Caesars Entertainment, Inc		25,309
	378,000		Cafe de Coral Holdings Ltd		799
	284,679		Cairo Investment & Real Estate Development Co SAE		235
	212,111	*	Cairo Mezz plc		18
	1,653,635	e	Carnival Corp		25,102
	173,705		Carnival plc		2,210
	84,975		Carriage Services, Inc		1,896
	127,324	*	Carrols Restaurant Group, Inc		821
	437,468		Central Plaza Hotel PCL		312
	77,423	*,e	Century Casinos, Inc		424
	67,200	e	Cheesecake Factory		1,864
	194,929	*,e	Chegg, Inc		13,926
	337,271		China Beststudy Education Group		141
	273,000	g	China East Education Holdings Ltd		595
	367,000		China Education Group Holdings Ltd		675
	107,300		China International Travel Service Corp Ltd		3,525
	582,000		China Kepei Education Group Ltd		453
	1,338,000	e	China Maple Leaf Educational Systems Ltd		403
	719,000	g	China New Higher Education Group Ltd		465
	1,950,000		China Travel International Inv HK		276
	460,000	g	China Xinhua Education Group Ltd		164
	1,204,000	g	China Yuhua Education Corp Ltd		1,033
	116,280	*	Chipotle Mexican Grill, Inc (Class A)		144,619
	47,785		Choice Hotels International, Inc		4,108
	78,428		Churchill Downs, Inc		12,848
	72,533	*,e	Chuy’s Holdings, Inc		1,420

48

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	11,606		Cie des Alpes	$	229
	1,689,945		Cogna Educacao		1,559
	15,450	e	Collectors Universe		765
	118,961		Collins Foods Ltd		885
	65,000	e	Colowide Co Ltd		1,105
	1,861,220		Compass Group plc		27,959
	99,089		Corporate Travel Management Ltd		1,246
	36,784		Cracker Barrel Old Country Store, Inc		4,218
	103,100	e	Create Restaurants Holdings, Inc		592
	344,142		Crown Resorts Ltd		2,186
	153,266		CVC Brasil Operadora e Agencia de Viagens S.A.		440
	195,429		Dadi Early-Childhood Education Group Ltd		1,217
	21,543		Daekyo Co Ltd		72
	140,000		Dahan Development Corp		260
	10,000	*,e	Daisyo Corp		119
	223,546		Dalata Hotel Group plc		648
	197,496		Darden Restaurants, Inc		19,896
	58,886	e	Dave & Buster’s Entertainment, Inc		893
	173,027	*	Del Taco Restaurants, Inc		1,419
	145,281	*	Denny’s Corp		1,453
	38,439		Dine Brands Global Inc.		2,098
	7,723	e	DO & CO AG.		316
	67,193		Domino’s Pizza Enterprises Ltd		3,842
	492,695		Domino’s Pizza Group plc		2,319
	24,902		Domino’s Pizza, Inc		10,590
	8,326		DoubleUGames Co Ltd		529
	32,318		Doutor Nichires Holdings Co Ltd		491
	3,034,543	*	Dubai Parks & Resorts PJSC		111
	64,757		Dunkin Brands Group, Inc		5,304
	58,584		Dur Hospitality Co		486
	122,399		EIH Ltd		134
	26,298	*,e	El Pollo Loco Holdings, Inc		426
	217,764	e,g	Elior Participations S.C.A		1,011
	46,881	*	Emerson Pacific, Inc		375
	350,791	*,e	Everi Holdings, Inc		2,894
	157,375	e,g	Evolution Gaming Group AB		10,398
	227,688		Extended Stay America, Inc		2,721
	83,500		Fairwood Holdings Ltd		196
	19,626		Fattal Holdings 1998 Ltd		1,098
	29,998	*	Fiesta Restaurant Group, Inc		281
	157,215		Flight Centre Travel Group Ltd		1,580
	355,709	*	Flutter Entertainment plc		56,032
	45,990		Formosa International Hotels Corp		212
	42,553	e	Franchise Group, Inc		1,079
	158,541	*	frontdoor, Inc		6,169
	868,000		Fu Shou Yuan International Group Ltd		848
	23,399	e	Fuji Kyuko Co Ltd		872
	18,000	e	Fujio Food System Co Ltd		243
	942,863		G8 Education Ltd		658
	69,583		GAEC Educacao S.A.		323
	6,849,043		Galaxy Entertainment Group Ltd		46,304
	21,026	*,e	GAN Ltd		355
	1,105,467		Genting BHD		848
	1,903,778		Genting Singapore Ltd		940

49

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	33,287	*	Golden Entertainment, Inc	$	460
	80,739		Gourmet Master Co Ltd		287
	6,051		Graham Holdings Co		2,445
	61,777	*	Grand Canyon Education, Inc		4,938
	28,376		Grand Korea Leisure Co Ltd		300
	57,431	*	Great Canadian Gaming Corp		1,040
	13,128	e	GreenTree Hospitality Group Ltd		178
	113,460		Greggs plc		1,719
	73,219	*,e	GSX Techedu, Inc (ADR)		6,598
	543,168		GVC Holdings plc		6,803
	363,679		H&R Block, Inc		5,924
	1,060,000	*,g	Haichang Holdings Ltd		71
	2,004,000	e,g	Haidilao International Holding Ltd		14,520
	8,563		Hana Tour Service, Inc		287
	23,376		Herfy Food Services Co		335
	26,437	e	Hiday Hidaka Corp		481
	249,464	*	Hilton Grand Vacations, Inc		5,234
	858,794		Hilton Worldwide Holdings, Inc		73,272
	36,628	e	HIS Co Ltd		647
	476,500		Hongkong & Shanghai Hotels		370
	1,856,000	g	Hope Education Group Co Ltd		571
	273,784	*	Houghton Mifflin Harcourt Co		474
	193,775		Huangshan Tourism Development Co Ltd		152
	114,359	e	Huazhu Group Ltd (ADR)		4,945
	49,858		Hyatt Hotels Corp		2,661
	15,500		Ichibanya Co Ltd		830
	1,675,663		IDP Education Ltd		23,068
	437,185		Indian Hotels Co Ltd		564
	163,070		InterContinental Hotels Group plc		8,560
	158,928	e	International Game Technology plc		1,769
	172,112	e	Invocare Ltd		1,209
	58,142		Jack in the Box, Inc		4,611
	85,869		Jackpotjoy plc		1,321
	19,500	e	Japan Best Rescue System Co Ltd		195
	318,987	*,g	Jiumaojiu International Holdings Ltd		754
	223,707		Jollibee Foods Corp		671
	65,600		Jubilant Foodworks Ltd		2,077
	369,210	e	Jumbo Interactive Ltd		3,337
	86,802	*	K12, Inc		2,286
	27,755	*,e	Kambi Group plc		906
	54,326		Kangwon Land, Inc		999
	28,170	e	Kappa Create Co Ltd		420
	23,600	e	Kisoji Co Ltd		570
	12,746	*,e	KNT-CT Holdings Co Ltd		135
	49,600		KOMEDA Holdings Co Ltd		926
	216,546	*,e,g	Koolearn Technology Holding Ltd		930
	112,716	e	Koshidaka Holdings Co Ltd		462
	12,253		Kourakuen Holdings Corp		215
	11,702	e	Kura Corp		638
	6,151	*,e	Kura Sushi USA, Inc		81
	33,183		Kyoritsu Maintenance Co Ltd		1,231
	80,588	g	La Francaise des Jeux SAEM		2,957
	1,693,114		Las Vegas Sands Corp		79,001
	262,336	*	Laureate Education, Inc		3,484

50

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,413		Leejam Sports Co JSC	$	370
	252,756	g	LeoVegas AB		1,068
	43,156	*	Lindblad Expeditions Holdings, Inc		367
	10,100	*	Litalico, Inc		278
	29,320	*	Lotte Tour Development Co Ltd		386
	2,088,504	*	Macau Legend Development Ltd		284
	671,707		Magnum BHD		340
	355,556		Mandarin Oriental International Ltd		641
	548,537		Marriott International, Inc (Class A)		50,784
	62,114		Marriott Vacations Worldwide Corp		5,641
	721,198		Marston’s plc		409
	9,800	e	Matsuya Foods Co Ltd		341
	2,065,872		McDonald’s Corp		453,438
	49,299		McDonald’s Holdings Co Japan Ltd		2,398
	6,907		MegaStudyEdu Co Ltd		173
	22,200	e	Meiko Network Japan Co Ltd		156
	1,618,791		Melco Crown Entertainment Ltd (ADR)		26,953
	2,789,817		Melco International Development		4,916
	133,783	e	Melia Hotels International S.A.		490
	673,404		MGM Resorts International		14,647
	1		Minor International PCL (ADR)		0	^
	1,723,578		Minor International PCL (Foreign)		1,090
	704,000	g	Minsheng Education Group Co Ltd		99
	221,439	*	Mitchells & Butlers plc		386
	11,610	*	Monarch Casino & Resort, Inc		518
	5,417		Monogatari Corp		534
	27,200	e	MOS Food Services, Inc		752
	21,712	e	MTY Food Group, Inc		540
	2,056		Nathan’s Famous, Inc		105
	186,976	*	New Oriental Education & Technology Group (ADR)		27,953
	64,362	*,e	Noodles & Co		442
	360,649	*,e	Norwegian Cruise Line Holdings Ltd		6,171
	100,300		Offcn Education Technology Co Ltd		482
	13,800		Ohsho Food Service Corp		780
	59,911	*,e	OneSmart International Education Group Ltd (ADR)		269
	80,667	e	OneSpaWorld Holdings Ltd		524
	97,758		OPAP S.A.		927
	12,341	*	Orascom Development Holding AG.		119
	205,167	e	Oriental Land Co Ltd		28,774
	176,677		Paddy Power plc		28,040
	102,684		Pandox AB		1,177
	54,260		Papa John’s International, Inc		4,465
	44,671		Paradise Co Ltd		524
	258,534	e	Park Lawn Corp		5,339
	38,470	*,†	Patisserie Holdings plc		1
	237,970	*,e	Penn National Gaming, Inc		17,300
	385,769	*,e	Perdoceo Education Corp		4,722
	7,193	e	PIA Corp		222
	109,394	*	Planet Fitness, Inc		6,741
	188,471	*,e	PlayAGS, Inc		667
	342,275		Playtech Ltd		1,598
	23,205	e	Plenus Co Ltd		401
	884,124	*,e	PointsBet Holdings Ltd		6,897
	33,350		Power Wind Health Industry, Inc		181

51

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	2,625,200	*	PT Nusantara Properti International Tbk	$	84
	12,384	e	RCI Hospitality Holdings, Inc		253
	18,378		Recipe Unlimited Corp		137
	25,465	*,e	Red Robin Gourmet Burgers, Inc		335
	476,813		Red Rock Resorts, Inc		8,154
	318,000		Regal Hotels International Holdings Ltd		119
	36,107	*,e	Regis Corp		222
	3,270,429		Resorts World BHD		1,640
	88,100		Resorttrust, Inc		1,343
	296,639		Restaurant Brands International, Inc (Toronto)		17,038
	36,951	*	Restaurant Brands New Zealand Ltd		292
	670,680	e	Restaurant Group plc		426
	22,000	e	Ringer Hut Co Ltd		540
	120,000		Riso Kyoiku Co Ltd		330
	70,561	e	Round One Corp		567
	303,296	e	Royal Caribbean Cruises Ltd		19,632
	29,200		Royal Holdings Co Ltd		505
	28,009	e	Ruth’s Hospitality Group Inc		310
	30,300	*,e	Saizeriya Co Ltd		617
	2,132,359		Sands China Ltd		8,265
	18,214		Saudi Airlines Catering Co		401
	132,463	e,g	Scandic Hotels Group AB		397
	131,000		Scholar Education Group		360
	145,721	*,e	Scientific Games Corp (Class A)		5,087
	159,914	*	SeaWorld Entertainment, Inc		3,154
	136,877	*	Seera Group Holding		697
	55,109	g	Ser Educacional S.A.		139
	254,658	e	Service Corp International		10,741
	10,800	e	SFP Holdings Co Ltd		140
	30,720	*,e	Shake Shack, Inc		1,981
	26,400		Shanghai Jinjiang International Hotels Development Co Ltd		159
	1,158,000		Shanghai Jinjiang International Hotels Group Co Ltd		182
	1,166,000		Shangri-La Asia Ltd		956
	193,300		Shenzhen Overseas Chinese Town Co Ltd		193
	147,200	*,e	Silver Life Co Ltd		2,814
	97,529		Six Flags Entertainment Corp		1,980
	1,509,000		SJM Holdings Ltd		1,789
	45,060		SkiStar AB		605
	817,074		Sky City Entertainment Group Ltd		1,621
	219,482		Skylark Co Ltd		3,136
	82,759		Sodexho Alliance S.A.		5,899
	96,840		Songcheng Performance Development Co Ltd		261
	589,981		SSP Group plc		1,368
	16,500		St Marc Holdings Co Ltd		242
	914,308		Star Entertainment Grp Ltd		2,017
	1,717,086		Starbucks Corp		147,532
	64,189		Strategic Education, Inc		5,871
	9,900	e	Studio Alice Co Ltd		158
	116,693		Sushiro Global Holdings Ltd		2,968
	1,936,039		Tabcorp Holdings Ltd		4,662
	374,535	*	TAL Education Group (ADR)		28,480
	23,319	*	Target Hospitality Corp		28
	238,480	*	Terminix Global Holdings, Inc		9,511

52

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	265,630		Texas Roadhouse, Inc (Class A)	$	16,148
	1,100,000		Tianli Education International Holdings Ltd		964
	15,171	*,e	TKP Corp		325
	92,100	e	Tokyo Dome Corp		663
	17,885		Tokyotokeiba Co Ltd		908
	49,159	e	Toridoll.corp		667
	21,184		Tosho Co Ltd		261
	35,220	*,e	Transat AT, Inc		103
	469,704	e	TUI AG. (DI)		1,763
	147,762		Twin River Worldwide Holdings Inc		3,882
	304,366		Unibet Group plc (ADR)		2,204
	25,452	*,e	Universal Technical Institute, Inc		129
	56,371		Vail Resorts, Inc		12,062
	23,792	e	Watami Co Ltd		224
	249,387		Wendy’s		5,560
	30,206	*	Westlife Development Ltd		162
	95,706		Wetherspoon (J.D.) plc		1,030
	187,909		Whitbread plc		5,134
	1,174,557		William Hill plc		4,175
	61,072		Wingstop, Inc		8,346
	554,000		Wisdom Education International Holdings Co Ltd		209
	137,303	*,e	WW International Inc		2,591
	885,495		Wyndham Destinations, Inc		27,238
	451,740		Wyndham Hotels & Resorts, Inc		22,813
	26,897,190		Wynn Macau Ltd		43,165
	544,608		Wynn Resorts Ltd		39,108
	356,500	e,g	Xiabuxiabu Catering Management China Holdings Co Ltd		440
	524,461		YDUQS Part		2,560
	4,235	e	Yomiuri Land Co Ltd		169
	71,719	e	Yoshinoya D&C Co Ltd		1,343
	1,172,310		Yum China Holdings, Inc		62,074
	1,146,715		Yum! Brands, Inc		104,695
	153,222	e	Zensho Co Ltd		3,616
			TOTAL CONSUMER SERVICES		2,300,137
DIVERSIFIED FINANCIALS - 3.7%
	61,211	*	360 Finance, Inc (ADR)		731
	129,334		3i Group plc		1,661
	39,771		ABC Arbitrage		344
	27,002		Ackermans & Van Haaren		3,502
	277,770	e	Acom Co Ltd		1,208
	87,711		Aeon Credit Service M BHD		220
	121,400		AEON Financial Service Co Ltd		1,107
	65,000		Aeon Thana Sinsap Thailand PCL		230
	36,358		Affiliated Managers Group, Inc		2,486
	2,996,539		AGNC Investment Corp		41,682
	337,200	*,e	Aiful Corp		874
	321,256		AJ Bell plc		1,865
	29,203		Aker ASA (A Shares)		1,258
	40,316		Alaris Equity Partners Income		331
	26,077	e	Alerus Financial Corp		511
	848,495		Alexander Forbes Group Holdings Ltd		177
	545,904		Ally Financial, Inc		13,686

53

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,165,048		Amanat Holdings PJSC	$	250
	7,808	e	A-Mark Precious Metals, Inc		263
	2,221,684		American Express Co		222,724
	172,882		Ameriprise Financial, Inc		26,643
	3,531,414		AMP Ltd		3,325
	51,542	g	Amundi S.A.		3,633
	1,195,564	g	Anima Holding S.p.A		4,688
	5,167,477		Annaly Capital Management, Inc		36,792
	205,906		Anworth Mortgage Asset Corp		338
	252,371		Apollo Commercial Real Estate Finance, Inc		2,274
	299,460		Apollo Global Management, Inc		13,401
	169,345	e	Arbor Realty Trust, Inc		1,942
	70,424		Ares Commercial Real Estate Corp		644
	145,574		Ares Management Corp		5,884
	87,397		Arlington Asset Investment Corp (Class A)		248
	188,083		ARMOUR Residential REIT, Inc		1,789
	294,784		Artisan Partners Asset Management, Inc		11,494
	60,213	*	Aseer Trading Tourism & Manufacturing Co		225
	636,780		Ashmore Group plc		2,939
	109,050	*	Assetmark Financial Holdings, Inc		2,371
	1,807	e	Associated Capital Group, Inc		65
	4,348	*,e	Atlanticus Holdings Corp		52
	24,297		Aurelius AG.		394
	274,109		Australian Stock Exchange Ltd		16,026
	250,418		Avanza Bank Holding AB		4,922
	289,300		Avic Capital Co Ltd		187
	2,215	*,†	Ayala Corp Preferred		0	^
	192,105		Azimut Holding S.p.A.		3,469
	30,804	e	B. Riley Financial, Inc		772
	1,984,153		B3 SA-Brasil Bolsa Balcao		19,436
	169,185		Bajaj Finance Ltd		7,580
	383,584	g	Banca Farmafactoring S.p.A		2,157
	611,414		Banca Generali S.p.A		18,595
	24,205		Banca IFIS S.p.A.		233
	159,854		Banca Mediolanum S.p.A		1,151
	29,598		Banco BTG Pactual S.A.		208
	220,300		Banco BTG Pactual S.A. - Unit		2,858
	54,618		Banco Latinoamericano de Exportaciones S.A. (Class E)		664
	1,614,400		Bangkok Commercial Asset Management PCL		1,018
	3,973,137		Bank of New York Mellon Corp		136,438
	458,554		BGC Partners, Inc (Class A)		1,101
	245,637		BlackRock, Inc		138,429
	297,800		Blackstone Group, Inc		15,545
	249,297		Blackstone Mortgage Trust, Inc		5,477
	269,088	*	Blucora, Inc		2,535
	977,012	e	BOCOM International Holdings Co Ltd		136
	794,074	e	Bolsa Mexicana de Valores S.A. de C.V.		1,800
	727,071	*,e	Brait S.A.		151
	510,330		Brewin Dolphin Holdings plc		1,536
	281,638		Brightsphere Investment Group, Inc		3,633
	205,283	e	Broadmark Realty Capital, Inc		2,024
	1,265,503	e	Brookfield Asset Management, Inc		41,875
	357,638		Brookfield Asset Management, Inc (New York)		11,824

54

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	245,238		BT Investment Management Ltd	$	971
	54,441		Bure Equity AB		1,712
	1,590,250		Burford Capital Ltd		12,802
	1,977,300		Bursa Malaysia BHD		4,042
	257,300		Caitong Securities Co Ltd		544
	37,983	*,†	Calamos Asset Management, Inc		0
	220,211		Canaccord Financial, Inc		1,123
	258,240	*	Cannae Holdings, Inc		9,622
	448,654		Capital One Financial Corp		32,240
	1,585,990		Capital Securities Corp		592
	248,964		Capstead Mortgage Corp		1,399
	175,175		Carlyle Group, Inc		4,322
	158,109		CBOE Global Markets, Inc		13,872
	69,487		Cembra Money Bank AG.		8,247
	29,810	e	Century Leasing System, Inc		1,625
	284,095		Cerved Information Solutions S.p.A		2,033
	1,139,180		Chailease Holding Co Ltd		5,218
	657,649		Challenger Financial Services Group Ltd		1,830
	328,600		Changjiang Securities Co Ltd		389
	3,495,237		Charles Schwab Corp		126,632
	23,645	e	Cherry Hill Mortgage Investment Corp		212
	317,268		Chimera Investment Corp		2,602
	677,000		China Bills Finance Corp		341
	9,242,698		China Cinda Asset Management Co Ltd		1,742
	927,925		China Everbright Ltd		1,248
	1,769,045		China Galaxy Securities Co Ltd		1,001
	211,300		China Galaxy Securities Co Ltd (Class A)		396
	139,900		China Great Wall Securities Co Ltd		270
	10,834,000	g	China Huarong Asset Management Co Ltd		1,154
	647,200	g	China International Capital Corp Ltd		1,505
	438,980		China Merchants Securities Co Ltd		1,399
	148,300	g	China Renaissance Holdings Ltd		340
	184,460		Cholamandalam Investment and Finance Co Ltd		626
	478,194	*	CI Financial Corp		6,066
	5,204,215		CITIC Securities Co Ltd		11,705
	638,100		CITIC Securities Co Ltd (Class A)		2,833
	168,818		Close Brothers Group plc		2,221
	287,804	g	CMC Markets plc		1,149
	603,952	e	CME Group, Inc		101,047
	204,896		Coface S.A.		1,433
	99,450		Cohen & Steers, Inc		5,543
	144,212		Colony Credit Real Estate, Inc		708
	206,800		Coronation Fund Managers Ltd		496
	27,063		Corp Financiera Alba		1,129
	137,160	*	Corp Financiera Colombiana S.A.		953
	38,983		Cowen Group, Inc		634
	4,725	*,e	Creades AB		436
	15,130	*,e	Credit Acceptance Corp		5,124
	72,546		Credit Corp Group Ltd		896
	163,200		Credit Saison Co Ltd		1,734
	7,125,730		Credit Suisse Group		71,134
	25,009	*	CreditAccess Grameen Ltd		252
	13,277		CRISIL Ltd		321
	178,908		CSC Financial Co Ltd		1,320

55

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,524	e	Curo Group Holdings Corp	$	109
	46,800	e	Curves Holdings Co Ltd		302
	251,517		Daewoo Securities Co Ltd		1,820
	28,727		Daishin Securities Co Ltd		295
	15,079		Daishin Securities Co Ltd PF		126
	1,281,913	*	Daiwa Securities Group, Inc		5,392
	11,750		Daou Data Corp		132
	22,605		Daou Technology, Inc		414
	91,973		DeA Capital S.p.A.		125
	260,961		Deutsche Bank AG. (Registered)		2,200
	10,850		Deutsche Beteiligungs AG.		394
	84,540		Deutsche Boerse AG.		14,822
	4,590	e	Diamond Hill Investment Group, Inc		580
	3,405,035		Discover Financial Services		196,743
	52,687	e,g	doBank S.p.A		523
	130,500		Dongxing Securities Co Ltd		247
	123,824	*	Donnelley Financial Solutions, Inc		1,654
	1,969,624		Dubai Financial Market		453
	41,482	e	Dynex Capital, Inc		631
	174,445		E*TRADE Financial Corp		8,731
	486,580		East Money Information Co Ltd		1,727
	91,336		Eaton Vance Corp		3,484
	254,627		ECN Capital Corp		968
	12,825,648		Edelweiss Capital Ltd		10,311
	9,865	e	EFG Financial Products Holding AG.		352
	106,737	e	EFG International		596
	31,086		eGuarantee, Inc		710
	542,208		Egyptian Financial Group-Hermes Holding		472
	479,311		Element Financial Corp		3,988
	74,645		Ellington Financial Inc		915
	15,711	e	Ellington Residential Mortgage REIT		174
	50,474	*,e	Encore Capital Group, Inc		1,948
	91,187	*	Enova International, Inc		1,495
	222,102	*	EQT AB		4,310
	2,535,913		Equitable Holdings, Inc		46,255
	70,723		Eurazeo		3,829
	969,601	g	Euronext NV		121,458
	232,600		Everbright Securities Co Ltd		754
	55,001		Evercore Inc		3,600
	14,414		EXOR NV		782
	64,051	*	Ezcorp, Inc (Class A)		322
	27,735		Factset Research Systems, Inc		9,288
	2,072,966		Far East Horizon Ltd		1,692
	473,653		Federated Investors, Inc (Class B)		10,188
	73,656		Fiera Capital Corp		565
	69,700	e	Financial Products Group Co Ltd		355
	15,440	*	FinTech Group AG.		772
	101,353	e	FinVolution Group (ADR)		186
	223,500		First Capital Securities Co Ltd		367
	2,706,000		First Pacific Co		736
	50,467		FirstCash, Inc		2,887
	4,625,219		FirstRand Ltd		11,350
	39,270	g	Flow Traders		1,569
	73,537	*	Focus Financial Partners, Inc		2,411

56

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	485,800		Founder Securities Co Ltd	$	603
	208,500		Franklin Resources, Inc		4,243
	9,333,957		Fuhwa Financial Holdings Co Ltd		5,779
	196,749	*,e,g	Funding Circle Holdings plc		202
	36,084		Fuyo General Lease Co Ltd		2,237
	4,785	e	GAMCO Investors, Inc (Class A)		55
	946,017	e	Gentera SAB de C.V.		270
	670,800		GF Securities Co Ltd		854
	416,100		GF Securities Co Ltd (Class A)		969
	22,054		Gimv NV		1,237
	53,501		GMO Financial Holdings, Inc		322
	318,011	e	goeasy Ltd		15,622
	570,058		Goldman Sachs Group, Inc		114,565
	97,211		Granite Point Mortgage Trust, Inc		689
	30,589		Great Ajax Corp		254
	126,955	*	Green Dot Corp		6,425
	11,729		Greenhill & Co, Inc		133
	31,021	e	GRENKELEASING AG.		1,147
	96,644	*,e	Grid Dynamics Holdings, Inc		747
	15,148		Groupe Bruxelles Lambert S.A. (EN Brussels)		1,366
	244,044		Grupo de Inversiones Suramericana S.A.		1,315
	32,231		Gruppo MutuiOnline S.p.A		895
	261,500		Guosen Securities Co Ltd		520
	3,285,800		Guotai Junan International Hol		440
	469,600		Guotai Junan Securities Co Ltd		1,265
	273,600	g	Guotai Junan Securities Co Ltd (Hong Kong)		382
	178,700		Guoyuan Securities Co Ltd		317
	2,062	*,e	GWG Holdings Inc		18
	427,946		Haci Omer Sabanci Holding AS		460
	1,396,962		Haitong Securities Co Ltd		1,195
	532,700		Haitong Securities Co Ltd (Class A)		1,113
	77,485		Hamilton Lane, Inc		5,005
	22,252		Hankook Tire Worldwide Co Ltd		320
	118,689		Hannon Armstrong Sustainable Infrastructure Capital, Inc		5,017
	101,489	*	Hanwha Securities Co		150
	44,129		Hargreaves Lansdown plc		888
	47,701	g	HDFC Asset Management Co Ltd		1,473
	54,118		Hellenic Exchanges S.A.		179
	57,139		Hitachi Capital Corp		1,344
	30,434		Hithink RoyalFlush Information Network Co Ltd		720
	2,134,516		Hong Kong Exchanges and Clearing Ltd		100,479
	167,000		Hotai Finance Co Ltd		474
	42,855		Houlihan Lokey, Inc		2,531
	210,600		Huaan Securities Co Ltd		273
	755,600	g	Huatai Securities Co Ltd		1,243
	485,022		Huatai Securities Co Ltd (Class A)		1,471
	131,900		Huaxi Securities Co Ltd		233
	56,618	e	HUB24 Ltd		763
	27,926	*	Hypoport AG.		17,493
	28,400		IBJ Leasing Co Ltd		731
	59,731	g	ICICI Securities Ltd		376
	532,608		IG Group Holdings plc		5,441
	235,345	e	IGM Financial, Inc		5,396

57

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	19,951		IIFL Wealth Management Ltd	$	260
	232,426		Indiabulls Housing Finance Ltd		500
	175,049		Indiabulls Securities Ltd		597
	28,556	g	Indian Energy Exchange Ltd		81
	338,300		Industrial Securities Co Ltd		414
	20,355		Industrivarden AB		541
	645,945		Infrastructure Development Finance Co Ltd		284
	338,510		IntegraFin Holdings plc		2,217
	103,490		Interactive Brokers Group, Inc (Class A)		5,002
	1,092,424		Intercontinental Exchange Group, Inc		109,297
	322,394		Intermediate Capital Group plc		4,958
	32,507		Inversiones La Construccion S.A.		193
	297,717		Invesco Ltd		3,397
	303,648	e	Invesco Mortgage Capital, Inc		823
	270,230		Investec Ltd		507
	784,016		Investec plc		1,443
	31,873	e	Investment AB Oresund		455
	60,539		Investor AB (B Shares)		3,954
	677,867		IOOF Holdings Ltd		1,505
	9,390		iShares Core S&P 500 ETF		3,156
	21,300	e	iShares MSCI ACWI ex US ETF		980
	477,536	e	iShares MSCI Canada Index Fund		13,089
	2,092,608		iShares MSCI EAFE Index Fund		133,195
	12,800	e	iShares MSCI EAFE Small-Cap ETF		755
	1,330,653	e	iShares MSCI Emerging Markets		58,669
	5,000		iShares MSCI Emerging Markets Small-Cap ETF		219
	408,734		iShares MSCI Saudi Arabia ETF		12,139
	69		iShares MSCI South Korea Index Fund		5
	152,600	e	iShares Russell 2000 Index Fund		22,858
	90,000	e	iShares Russell Midcap Growth Index Fund		15,558
	217,767		Isracard Ltd		540
	71,007		J Trust Co Ltd		164
	23,625		Jaccs Co Ltd		384
	52,218	*	Jafco Co Ltd		2,205
	200,106	e	Japan Investment Adviser Co Ltd		2,369
	95,700		Japan Securities Finance Co Ltd		464
	328,531		Jefferies Financial Group, Inc		5,914
	1,600,581		Jih Sun Financial Holdings Co Ltd		610
	364,124		JM Financial Ltd		383
	82,052		JSE Ltd		574
	29,747		Julius Baer Group Ltd		1,263
	180,121	*	Julius Baer Holding AG.		347
	501,891		Jupiter Investment Management Group Ltd		1,449
	68,547		KBC Ancora		2,157
	32,153	e	Kinnevik AB		1,305
	11,791		KIWOOM Securities Co Ltd		1,001
	760,554		KKR & Co, Inc		26,117
	44,344		KKR Real Estate Finance Trust, Inc		733
	37,717		Korea Investment Holdings Co Ltd		2,331
	16,110		KRUK S.A.		548
	738,625		Krungthai Card PCL		817
	321,563	*	Kumho Investment Bank		140
	165,981		Ladder Capital Corp		1,182
	79,470		Lazard Ltd (Class A)		2,626

58

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	116,552	*,e	LendingClub Corp	$	549
	728,344		London Stock Exchange Group plc		83,553
	185,421		LPL Financial Holdings, Inc		14,216
	10,101		Lundbergs AB (B Shares)		499
	15,800	*	M&A Capital Partners Co Ltd		745
	5,339,357		M&G plc		10,975
	328,676		Macquarie Group Ltd		28,491
	118,828		Magellan Financial Group Ltd		4,901
	577,180		Mahindra & Mahindra Financial Services Ltd		970
	15,728,734		Man Group plc		23,316
	205,162		Manappuram General Finance & Leasing Ltd		440
	55,042		MarketAxess Holdings, Inc		26,508
	5,393		Marlin Business Services Corp		38
	60,600	e	Marusan Securities Co Ltd		260
	131,000	e	Matsui Securities Co Ltd		1,179
	38,191		Meritz finance Holdings Co Ltd		297
	229,725		Meritz Securities Co Ltd		637
	14,615,906		Metro Pacific Investments Corp		1,056
	738,237		MFA Financial Inc		1,978
	280,470	e	Mitsubishi UFJ Lease & Finance Co Ltd		1,303
	65,089		MLP AG.		439
	42,501	e	Moelis & Co		1,493
	67,036	e	Moelis Australia Ltd		194
	179,452		Monex Beans Holdings, Inc		454
	241,754		Moody’s Corp		70,072
	8,354,630		Morgan Stanley		403,946
	47,948		Morningstar, Inc		7,701
	33,659		Motilal Oswal Financial Services Ltd		298
	130,231		MSCI, Inc (Class A)		46,464
	574,400		Muangthai Capital PCL		900
	76,519		Multi Commodity Exchange of India Ltd		1,794
	172,100		Nanjing Securities Co Ltd		360
	164,606		Nasdaq Inc		20,199
	125,834		Natixis		283
	528,673		Navient Corp		4,467
	9,700		NEC Capital Solutions Ltd		174
	25,722		Nelnet, Inc (Class A)		1,550
	110,530		Netwealth Group Ltd		1,217
	592,240		New Residential Investment Corp		4,708
	610,638		New York Mortgage Trust, Inc		1,557
	56,823	*,†	NewStar Financial, Inc		14
	36,916		NICE Holdings Co Ltd		575
	145,647	*	Ninety One Ltd		384
	111,797	g	Nippon Life India Asset Management Ltd		400
	17,600	*	Noah Holdings Ltd (ADR)		459
	3,340,156	*	Nomura Holdings, Inc		15,264
	65,800		Northeast Securities Co Ltd		96
	26,295		Northern Trust Corp		2,050
	72,423		Numis Corp plc		277
	164,393		Okasan Holdings, Inc		543
	803,126		OneMain Holdings, Inc		25,098
	78,581		Onex Corp		3,505
	34,086	*,e	Oportun Financial Corp		402
	11,254	e	Oppenheimer Holdings, Inc		251

59

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	105,445	e	Orchid Island Capital, Inc	$	528
	582,700		Orient Corp		630
	299,200		Orient Securities Co Ltd		488
	3,084,440		ORIX Corp		38,525
	616,050		Osaka Securities Exchange Co Ltd		17,267
	83,622		P2P Global Investments plc		909
	550,400	*	Pacific Securities Co Ltd		331
	2,484		Partners Group		2,285
	193,782		PennyMac Mortgage Investment Trust		3,114
	64,241		Perpetual Trustees Australia Ltd		1,297
	16,965	*,e	Pico Holdings, Inc		152
	305,377	e	Pinnacle Investment Management Group Ltd		1,124
	28,486		Piper Jaffray Cos		2,079
	31,461		PJT Partners, Inc		1,907
	315,656		Platinum Asset Mangement Ltd		700
	108,935		Plus500 Ltd		2,202
	77,665	*	PRA Group, Inc		3,103
	757,683		President Securities Corp		409
	285,429		Provident Financial plc		713
	165,201		PSG Group Ltd		451
	5,020,944	*	PT Pacific Strategic Financial Tbk		286
	98,922	e	Pzena Investment Management, Inc (Class A)		530
	137,680	*,e	Qudian, Inc (ADR)		171
	2,496,408	g	Quilter plc		4,128
	1,167,018		Ratchthani Leasing PCL		149
	61,711		Rathbone Brothers		1,226
	518,819		Ratos AB (B Shares)		1,934
	96,284		Raymond James Financial, Inc		7,006
	76,956		Ready Capital Corp		862
	459,931		Redwood Trust, Inc		3,459
	31,311	*	Regional Management Corp		522
	71,907		Reinet Investments S.C.A		1,247
	267,237		Remgro Ltd		1,494
	159,648	g	Resurs Holding AB		826
	239,000	*	Ribbit LEAP Ltd		3,107
	15,861		Ricoh Leasing Co Ltd		429
	666,110		Rural Electrification Corp Ltd		898
	717,487		S&P Global, Inc		258,726
	35,466	e	Safeguard Scientifics, Inc		194
	21,665		Samsung Card Co		523
	55,684		Samsung Securities Co Ltd		1,455
	165,157		Sanne Group plc		1,399
	105,614	e	Santander Consumer USA Holdings, Inc		1,921
	427,247	*	SBI Holdings, Inc		11,071
	16,522		Schroders plc		574
	28,252		Sculptor Capital Management, Inc		332
	176,200		SDIC Capital Co Ltd		398
	306,370		Sealand Securities Co Ltd		241
	169,229		SEI Investments Co		8,583
	141,323	*	Sezzle, Inc (ADR)		704
	270,100	*	Shanghai Dajiang Group		80
	179,080		Shanxi Securities Co Ltd		210
	310,000		Sheng Ye Capital Ltd		220
	1,472,000		Shenwan Hongyuan Group Co Ltd		1,153

60

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,499		Shinyoung Securities Co Ltd	$	140
	190,616		Shriram Transport Finance Co Ltd		1,609
	958,912	*	SHUAA Capital PSC		173
	9,117	*,e	Siebert Financial Corp		29
	8,044	e	Silvercrest Asset Management Group, Inc		84
	1,513,301		Singapore Exchange Ltd		10,207
	176,300	†	Sinolink Securities Co Ltd		392
	19,055,077	e	Skyway Securities Group Ltd		324
	542,214		SLM Corp		4,387
	768,475	*,†,e	SNS Reaal		9
	5,647		Societe Fonciere Financiere et de Participations FFP		479
	14,622	e	Sofina S.A.		3,992
	213,950		SooChow Securities Co Ltd		338
	248,592		Southwest Securities Co Ltd		193
	13,447	*	Spandana Sphoorty Financial Ltd		93
	94,358		Sparx Group Co Ltd		204
	8,000	e	SPDR Trust Series 1		2,679
	23,566	e	Sprott, Inc		804
	658,817		Srisawad Corp PCL		1,022
	494,571		St. James’s Place plc		5,950
	2,323,171		Standard Life Aberdeen plc		6,766
	1,907,309		Starwood Property Trust, Inc		28,781
	835,803		State Street Corp		49,588
	114,341		Stifel Financial Corp		5,781
	65,893	*	StoneX Group, Inc		3,371
	47,224		Strike Co Ltd		2,775
	589,735		Sun Hung Kai & Co Ltd		231
	24,400		Sundaram Finance Ltd		431
	10,371		Swissquote Group Holding S.A.		842
	3,114	*,e	SWK Holdings Corp		44
	403,593		Synchrony Financial		10,562
	179,262		T Rowe Price Group, Inc		22,985
	2,526,282	e	Tai Fook Securities Group Ltd		608
	133,503		Taiwan Acceptance Corp		460
	118,479		Tamburi Investment Partners S.p.A.		785
	11,682		Tata Investment Corp Ltd		134
	310,582		TD Ameritrade Holding Corp		12,159
	1,309,045		Tel Aviv Stock Exchange Ltd		5,858
	314,300		Tianfeng Securities Co Ltd		301
	52,475	e	TMX Group Ltd		5,397
	220,380	e	Tokai Tokyo Securities Co Ltd		573
	81,759	*	Tong Yang Investment Bank		193
	164,188		TPG RE Finance Trust, Inc		1,389
	125,884		Tradeweb Markets, Inc		7,301
	522,894		Transaction Capital Ltd		674
	627,337		Tullett Prebon plc		1,846
	434,701		Two Harbors Investment Corp		2,213
	76,220	*	TY Holdings Co Ltd		1,593
	6,601		Ubiquoss Holdings, Inc		163
	4,310,839		UBS Group AG		48,165
	29,355		Ujjivan Financial Services Ltd		85
	151,634	*	Uranium Participation Corp		467
	18,600	*	Uzabase, Inc		669
	247		Value Line, Inc		6

61

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,256,011		Value Partners Group Ltd	$	539
	575		Vanguard Emerging Markets ETF		25
	25,000		Vanguard FTSE Developed Markets ETF		1,023
	182,500		Virtu Financial, Inc		4,199
	22,993	e	Virtus Investment Partners, Inc		3,188
	195,898		Vontobel Holding AG.		12,926
	1,698,929		Voya Financial, Inc		81,430
	4,519		VP Bank AG.		555
	17,050		VZ Holding AG.		1,521
	99,807		Waddell & Reed Financial, Inc (Class A)		1,482
	25,356		Warsaw Stock Exchange		297
	2,092,490		Waterland Financial Holdings		853
	25,009		Wendel		2,269
	112,800	e	Western Asset Mortgage Capital Corp		230
	218,800		Western Securities Co Ltd		307
	17,144	e	Westwood Holdings Group, Inc		191
	357,495		WisdomTree Investments, Inc		1,144
	94,772		Woori Investment & Securities Co Ltd		740
	6,694	*,e	World Acceptance Corp		707
	176,016	*	XP, Inc		7,338
	17,427	e	Yintech Investment Holdings Ltd (ADR)		125
	1,944,000	*,g	Yixin Group Ltd		487
	855,692		Zeder Investments Ltd		119
	124,665		Zenkoku Hosho Co Ltd		4,927
	162,829		Zheshang Securities Co Ltd		428
	1,443,603	*,e	Zip Co Ltd		6,614
			TOTAL DIVERSIFIED FINANCIALS		4,175,777
ENERGY - 2.3%
	2,089	e	Adams Resources & Energy, Inc		42
	15,807,104		Adaro Energy Tbk		1,214
	205,149	*,e	Advantage Oil & Gas Ltd		270
	80,381		Aegis Logistics Ltd		251
	1,070,049		Aker BP ASA		16,727
	50,744		Aldrees Petroleum and Transport Services Co		897
	482,822		Ampol Ltd		8,333
	171,283		Anglo Pacific Group plc		280
	407,774		Antero Midstream Corp		2,190
	879,643	*,e	Antero Resources Corp		2,419
	254,336		Apache Corp		2,409
	387,397	e	ARC Resources Ltd		1,731
	21,867	*,e	Arch Resources, Inc		929
	224,809		Archrock, Inc		1,209
	57,435	e	Ardmore Shipping Corp		204
	59,528	*,e	Aspen Aerogels, Inc		652
	653,915		Baker Hughes Co		8,691
	997,200		Bangchak Corp PCL		473
	3,816,600		Banpu PCL (Foreign)		704
	1,878,863		Beach Petroleum Ltd		1,802
	118,155	e	Berry Petroleum Co LLC		375
	3,779,102		Bharat Petroleum Corp Ltd		18,087
	291,886	e	Birchcliff Energy Ltd		335
	33,184	*	Bonanza Creek Energy, Inc		624
	18,752,297		BP plc		54,231

62

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	172,178		BP plc (ADR)	$	3,006
	196,672		Brigham Minerals, Inc		1,754
	4,650,000	*,†,e	Brightoil Petroleum Holdings Ltd		675
	28,279	*	Bristow Group, Inc		601
	449,618	e,g	BW LPG Ltd		1,857
	401,383	e	BW Offshore Ltd		1,136
	2,568,822		Cabot Oil & Gas Corp		44,595
	241,502		Cactus, Inc		4,634
	1,022,200	*	Cairn Energy plc		1,897
	382,585		Cameco Corp (Toronto)		3,864
	158,931	e	Canacol Energy Ltd		423
	1,258,223		Canadian Natural Resources Ltd (Canada)		20,165
	1,011,632		Cenovus Energy, Inc (Toronto)		3,943
	800,462	*,e	CGG S.A.		534
	678,575	*	ChampionX Corp		5,422
	506,618	*	Cheniere Energy, Inc		23,441
	4,088,708		Chevron Corp		294,387
	300,803		China Aviation Oil Singapore Corp Ltd		206
	517,100		China Merchants Energy Shipping Co Ltd		439
	1,999,126		China Oilfield Services Ltd		1,399
	454,100		China Shenhua Energy Co Ltd		1,102
	3,403,695		China Shenhua Energy Co Ltd (Hong Kong)		6,109
	842,000		China Shipping Development Co Ltd		351
	3,812,000		China Suntien Green Energy Cor		991
	86,379		Cimarex Energy Co		2,102
	622,304	*,e	Clean Energy Fuels Corp		1,543
	29,091,946		CNOOC Ltd		27,983
	363,432	*	CNX Resources Corp		3,431
	673,810		Coal India Ltd		1,063
	118	*,†,b	Cobalt International Energy, Inc		0	^
	88,001		Computer Modelling Group Ltd		341
	34,420	*,e	Comstock Resources Inc		151
	1,027,408		Concho Resources, Inc		45,329
	2,341,685		ConocoPhillips		76,901
	47,330	*,e	CONSOL Energy, Inc		210
	132,820	*,e	Contango Oil & Gas Co		178
	25,666	e	Continental Resources, Inc		315
	1,741,077	*	Cooper Energy Ltd		440
	140,928		Cosan SA Industria e Comercio		1,715
	259,300		COSCO SHIPPING Energy Transportation Co Ltd		270
	61,958		Cosmo Energy Holdings Co Ltd		886
	1,236,051	e	Crescent Point Energy Corp		1,495
	71,555		CropEnergies AG.		1,243
	51,121	e	CVR Energy, Inc		633
	3,322,424		Dana Gas PJSC		645
	6,848		Delek Group Ltd		132
	103,843		Delek US Holdings, Inc		1,156
	1,469,608	*	Devon Energy Corp		13,902
	193,860	e	DHT Holdings, Inc		1,000
	4,053,151		Dialog Group BHD		3,719
	49,643	*,e	Diamond S Shipping Inc		341
	273,310		Diamondback Energy, Inc		8,232
	1,492,678		Diversified Gas & Oil plc		2,021
	19,519	e	DMC Global, Inc		643

63

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	610,659	e	DNO International ASA	$	303
	70,610	*	Dorian LPG Ltd		566
	24,836	*,e	Drilling Co of 1972		536
	57,977	*	Dril-Quip, Inc		1,435
	44,709	*,e	Earthstone Energy, Inc		116
	5,311,416		Ecopetrol S.A.		2,630
	381,595		Empresas COPEC S.A.		2,861
	80,053		Enauta Participacoes S.A.		138
	2,171,808		Enbridge, Inc (Toronto)		63,447
	432,658	e	EnCana Corp		3,530
	196,084	e	Enerflex Ltd		680
	1,168,600	*,†	Energy Earth PCL		0	^
	91,069	*,e	Energy Fuels, Inc		153
	1		Energy Transfer LP		0	^
	243,416	e	Enerplus Resources Fund		446
	338,114		ENI S.p.A.		2,643
	1,639,701		EOG Resources, Inc		58,931
	1,687,827		EQT Corp		21,824
	3,252,357	*	Equinor ASA		46,078
	24,531	*	Equital Ltd		442
	1,238,094		Equitrans Midstream Corp		10,474
	1,061,300		Esso Thailand PCL (Foreign)		204
	70,596	e	Etablissements Maurel et Prom		122
	410,111	e	Euronav NV		3,631
	42,904		Evolution Petroleum Corp		96
	38,227	*,e	Exmar NV		95
	50,230	*	Exterran Corp		209
	131,673	e	Exxaro Resources Ltd		976
	4,414,436		Exxon Mobil Corp		151,548
	27,236	e	Falcon Minerals Corp		66
	33,740	e	FLEX LNG Ltd		191
	1,177,714		Formosa Petrochemical Corp		3,268
	263,526	*,e	Frank’s International NV		406
	104,142	e	Freehold Royalty Trust		289
	162,515		Frontera Energy Corp		260
	189,092	e	Frontline Ltd		1,229
	249,223	e	Frontline Ltd (Sigmax MTF)		1,641
	94,120	*,e	Fugro NV		368
	66,623		Galp Energia SGPS S.A.		618
	104,037		Gazprom (ADR)		454
	5,689,620		Gazprom OAO (ADR)		24,761
	24,813		Gaztransport Et Technigaz S.A.		2,366
	159,959	e	Gibson Energy, Inc		2,592
	142,006	*,e	Golar LNG Ltd		860
	7,518	*,e	Goodrich Petroleum Corp		58
	49,540		Great Eastern Shipping Co Ltd		158
	276,424	*	Green Plains Inc		4,279
	51,684		Grupa Lotos S.A.		461
	56,154		GS Holdings Corp		1,487
	771,700		Guanghui Energy Co Ltd		323
	886,364	*	Gulf International Services QSC		386
	260,998	*,e	Gulfport Energy Corp		138
	145,570		Hafnia Ltd		221
	1,680,392		Halliburton Co		20,249

64

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	671		Hankook Shell Oil Co Ltd	$	135
	249,639	*	Helix Energy Solutions Group, Inc		602
	70,135		Helmerich & Payne, Inc		1,027
	612,222		Hess Corp		25,058
	307,626		Hindustan Petroleum Corp Ltd		753
	58,046		HollyFrontier Corp		1,144
	160,517		Hunting plc		267
	1,908,340	*,e	Hurricane Energy plc		91
	386,259		Husky Energy, Inc		893
	158,410	e	Idemitsu Kosan Co Ltd		3,382
	166,764		Imperial Oil Ltd		1,996
	1,074,453		Indian Oil Corp Ltd		1,077
	1,256,700		Inner Mongolia Yitai Coal Co		866
	1,055,324		Inpex Holdings, Inc		5,663
	399,618	e	Inter Pipeline Ltd		3,922
	93,603	e	International Seaways, Inc		1,368
	12,989,793		IRPC PCL (Foreign)		791
	85,950		Itochu Enex Co Ltd		794
	36,477	e	Japan Petroleum Exploration Co		567
	766,945		John Wood Group plc		2,106
	2,470,180		JX Holdings, Inc		8,813
	241,603	e	Keyera Corp		3,647
	2,624,020		Kinder Morgan, Inc		32,354
	65,676		Koninklijke Vopak NV		3,701
	835,483		Kosmos Energy Ltd		815
	98,256	e	Liberty Oilfield Services, Inc		785
	401,440		LUKOIL PJSC (ADR)		23,047
	1,068,910	*,e	Lundin Petroleum AB		21,197
	474,236	*	Magnolia Oil & Gas Corp		2,452
	815,050		Marathon Oil Corp		3,334
	673,442		Marathon Petroleum Corp		19,759
	26,260		Mari Petroleum Co Ltd		216
	177,062	*,e	Matador Resources Co		1,463
	143,702	*,e	Matrix Service Co		1,200
	956,370	*,e	MEG Energy Corp		1,990
	31,800		Mitsuuroko Co Ltd		409
	22,230		Modec, Inc		346
	236,752	e	MOL Hungarian Oil & Gas plc		1,289
	21,681	*,e	Montage Resources Corp		95
	40,463		Motor Oil Hellas Corinth Refineries S.A.		477
	19,131		Murphy Oil Corp		171
	12,991	e	Nabors Industries Ltd		317
	48,055		Naphtha Israel Petroleum Corp Ltd		183
	41,449	*,e	National Energy Services Reunited Corp		264
	647,458		National Oilwell Varco, Inc		5,866
	897,322	e	Neste Oil Oyj		47,253
	467,609	e	New Hope Corp Ltd		436
	161,756	*	Newpark Resources, Inc		170
	351,574	*,e	NexGen Energy Ltd		610
	10,105	*,e	NextDecade Corp		30
	862,717	*	NexTier Oilfield Solutions, Inc		1,596
	180,863		Noble Energy, Inc		1,546
	220,815		Nordic American Tankers Ltd		771
	88,824		Novatek PJSC (GDR)		12,169

65

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	295,963		Occidental Petroleum Corp	$	2,963
	69,001	e	Ocean Yield ASA		166
	328,221	*,e	Oceaneering International, Inc		1,155
	672,500		Offshore Oil Engineering Co Ltd		447
	660,490		Oil & Gas Development Co Ltd		412
	205,282		Oil India Ltd		250
	1,983,750		Oil Refineries Ltd		353
	1,837,750		Oil Search Ltd		3,515
	118,017	*	Oil States International, Inc		322
	40,780		OMV AG.		1,116
	633,625		ONEOK, Inc		16,462
	1,639,683		Origin Energy Ltd		5,078
	116,387	*	Overseas Shipholding Group, Inc		249
	107,712		Pakistan Oilfields Ltd		273
	544,386		Pakistan Petroleum Ltd		302
	193,198		Pakistan State Oil Co Ltd		233
	83,609	*,e	Par Pacific Holdings, Inc		566
	246,674	*	Parex Resources, Inc		2,599
	504,512	e	Parkland Corp		13,341
	7,219,689		Parsley Energy, Inc		67,576
	86,464		Pason Systems, Inc		343
	672,589		Patterson-UTI Energy, Inc		1,917
	11,004		Paz Oil Co Ltd		863
	225,740		PBF Energy, Inc		1,284
	175,359	*	PDC Energy, Inc		2,174
	122,694		Peabody Energy Corp		282
	511,892	e	Pembina Pipeline Income Fund		10,864
	25,934	*,e	Penn Virginia Corp		255
	100,081	*	Petro Rio S.A.		622
	274,904	e	Petrofac Ltd		395
	3,611,602		Petroleo Brasileiro S.A.		12,714
	6,585,040		Petroleo Brasileiro S.A. (Preference)		22,994
	2,722,100		Petron		171
	312,359		Petronas Dagangan BHD		1,485
	309,884		Petronet LNG Ltd		928
	180,996	e	Peyto Exploration & Development Corp		338
	1,048,803	e	Phillips 66		54,370
	322,471		Pilipinas Shell Petroleum Corp		108
	1,182,232		Pioneer Natural Resources Co		101,660
	987,205		Polish Oil & Gas Co		1,292
	157,721		Polski Koncern Naftowy Orlen S.A.		1,872
	100,100	*,†	Poseidon Concepts Corp		1
	229,911	e	PrairieSky Royalty Ltd		1,435
	808,200		Prima Marine PCL		236
	547	*,e	PrimeEnergy Corp		36
	230,875	*	ProPetro Holding Corp		937
	364,700		PT Indo Tambangraya Megah		201
	6,950,392	*	PT Medco Energi Internasional Tbk		159
	7,421,600	*	PT Pelayaran Tamarin Samudra Tbk		26
	3,199,728		PT Tambang Batubara Bukit Asam Tbk		427
	9,184,306		PT United Tractors Tbk		14,111
	1,393,821		PTT Exploration & Production PCL (Foreign)		3,487
	11,152,350		PTT PCL (Foreign)		11,477
	252,040		Qatar Fuel QSC		1,228

66

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	122,538	*	Rabigh Refining & Petrochemical Co	$	511
	2,047,262	e	Range Resources Corp		13,553
	5,600,547		Reliance Industries Ltd		169,853
	139,196	*	Renewable Energy Group, Inc		7,436
	346,024		Repsol YPF S.A.		2,338
	9,782	*	Rex American Resources Corp		642
	709,991	*	Rosneft Oil Co PJSC (GDR)		3,491
	3,451,500		Royal Dutch Shell plc (A Shares)		43,086
	4,590,550		Royal Dutch Shell plc (B Shares)		55,670
	87,799	*	RPC, Inc		232
	727,148	e	Saipem S.p.A		1,251
	64,052		San-Ai Oil Co Ltd		613
	2,205,972		Santos Ltd		7,800
	7,400,900		Sapurakencana Petroleum BHD		179
	642,251	e	Saras S.p.A.		335
	288,587	*,e	Sasol Ltd		2,219
	2,124,755	g	Saudi Arabian Oil Co		20,349
	177,085		SBM Offshore NV		2,825
	2,310,811		Schlumberger Ltd		35,956
	24,695		Schoeller-Bleckmann Oilfield Equipment AG.		657
	151,123	e	Scorpio Tankers, Inc		1,673
	30,784	*	SEACOR Holdings, Inc		895
	102,843	*	Select Energy Services, Inc		395
	886,400		Semirara Mining & Power Corp		183
	7,419,251		Serba Dinamik Holdings BHD		2,943
	196,923	e	Serica Energy plc		243
	50	*,†	Serval Integrated Energy Services		0
	309,743	*	Seven Generations Energy Ltd		835
	149,378	e	SFL Corp Ltd		1,119
	713,155		Shaanxi Coal Industry Co Ltd		882
	408,836		Shanxi Lu’an Environmental Energy Development Co Ltd		368
	343,200	*	Shanxi Meijin Energy Co Ltd		306
	592,800		Shanxi Xishan Coal & Electricity Power Co Ltd		380
	88,584		Shinko Plantech Co Ltd		1,107
	771,672		Siamgas & Petrochemicals PCL		211
	9,400		Sinanen Co Ltd		285
	878,000		Sinopec Kantons Holdings Ltd		311
	54,231		SK Energy Co Ltd		6,427
	2,440		SK Gas Co Ltd		203
	273,224		SM Energy Co		434
	48,929		S-Oil Corp		2,149
	51,309		Solaris Oilfield Infrastructure, Inc		325
	963,406	*	Southwestern Energy Co		2,264
	1,614,820		Star Petroleum Refining PCL		283
	671,848	e	Stobart Group Ltd		170
	248,007	e	Subsea 7 S.A.		1,783
	1,485,374		Suncor Energy, Inc		18,138
	1,383,949		Surgutneftegaz (ADR) (London)		6,152
	60,707	*,e	Talos Energy, Inc		392
	384,531		Targa Resources Investments, Inc		5,395
	233,399		Tatneft PJSC (ADR)		8,235
	1,121,677		TC Energy Corp		47,089
	2,566		TechnipFMC plc		16

67

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	41,424	*	Tecnicas Reunidas S.A.	$	443
	198,880	*,e	Tellurian, Inc		158
	62,763		Tenaris S.A.		313
	74,243	*	Tervita Corp		145
	131,064		TGS Nopec Geophysical Co ASA		1,599
	1,220,055		Thai Oil PCL (Foreign)		1,238
	78,543	*	Tidewater, Inc		527
	33,676	e	TORM plc		229
	2,316,022	*,e	Total S.A.		79,538
	343,415		Tourmaline Oil Corp		4,196
	69,311	e	Transportadora de Gas del Sur S.A. (ADR) (Class B)		288
	1,583,315	e	Tullow Oil plc		310
	70,046		Tupras Turkiye Petrol Rafine		719
	712,888		Ultrapar Participacoes S.A.		2,446
	2,774,962	*	UMW Oil & Gas Corp BHD		87
	571,061	*,e	Uranium Energy Corp		569
	140,305	e	US Silica Holdings, Inc		421
	1,794,509		Valero Energy Corp		77,738
	24,851		Verbio AG.		542
	346,351	e	Vermilion Energy, Inc		809
	1,175,270	g	Viva Energy Group Ltd		1,361
	178,160	*,e	W&T Offshore, Inc		321
	99,690	e	Washington H Soul Pattinson & Co Ltd		1,693
	803	*	Weatherford International Ltd		2
	445,816	e	Whitecap Resources, Inc		810
	925,530		Whitehaven Coal Ltd		701
	5,890	*	Whiting Petroleum Corp		102
	1,881,417		Williams Cos, Inc		36,970
	1,052,000		Wison Engineering Services Co Ltd		109
	905,122		Woodside Petroleum Ltd		11,488
	189,210		World Fuel Services Corp		4,009
	377,547		Worley Ltd		2,631
	1,718,745	*	WPX Energy, Inc		8,422
	111,200		Yantai Jereh Oilfield Services Group Co Ltd		489
	1,891,477		Yanzhou Coal Mining Co Ltd		1,413
	239,300		Yanzhou Coal Mining Co Ltd (Class A)		327
	577,000		Yinson Holdings BHD		778
	201,000		YPF S.A. (ADR) (Class D)		718
	548,380		Z Energy Ltd		999
			TOTAL ENERGY		2,532,861
FOOD & STAPLES RETAILING - 1.5%
	25,113	*	111, Inc (ADR)		156
	43,149		Abdullah Al Othaim Markets Co		1,493
	549,317		Aeon Co Ltd		14,777
	24,100	*	Aeon Hokkaido Corp		200
	27,683		Ain Pharmaciez Inc		1,939
	186,537		Al Meera Consumer Goods Co		1,010
	65,546	*,e	Albertsons Cos, Inc		908
	1,390,647		Alimentation Couche Tard, Inc		48,428
	179,629		Andersons, Inc		3,444
	43,479		Arcs Co Ltd		1,116
	373,455		Atacadao Distribuicao Comercio e Industria Ltd		1,363
	171,575	*,g	Avenue Supermarts Ltd		5,129

68

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	251,077		Axfood AB	$	5,751
	17,955		Axial Retailing, Inc		843
	11,200		Belc Co Ltd		828
	1,220,985		Berli Jucker PCL		1,423
	3,582		BGF retail Co Ltd		379
	322,130		Bid Corp Ltd		4,956
	426,803		BIM Birlesik Magazalar AS		3,827
	1,223,567		Carrefour S.A.		19,552
	54,139	e	Casey’s General Stores, Inc		9,618
	48,379	*,e	Casino Guichard Perrachon S.A.		1,174
	13,751		Cawachi Ltd		382
	1,291,779		Centros Comerciales Sudamericanos S.A.		1,892
	47,173	*	Chefs’ Warehouse Holdings, Inc		686
	3,965,161		Cia Brasileira de Distribuicao		49,241
	121,928		Clicks Group Ltd		1,618
	59,060		Cocokara Fine Holdings, Inc		3,822
	1,235,382		Coles Group Ltd		15,050
	7,360		Colruyt S.A.		478
	1,489,063		Cosco Capital, Inc		157
	13,900		Cosmos Pharmaceutical Corp		2,422
	1,066,974		Costco Wholesale Corp		378,776
	5,453,729		CP Seven Eleven PCL (Foreign)		10,401
	31,100		Create SD Holdings Co Ltd		1,091
	5,118		Daikokutenbussaan Co Ltd		287
	641,700		Dairy Farm International Holdings Ltd		2,425
	355,923	*,g	Dino Polska S.A.		20,937
	279,488	e,g	Dis-Chem Pharmacies Ltd		287
	6,465,416	*,e	Distribuidora Internacional de Alimentacion S.A.		806
	27,151		Dongsuh Co, Inc		689
	33,199		E-Mart Co Ltd		4,011
	159,188		Empire Co Ltd		4,621
	79,898		Eurocash S.A.		297
	14,100	e	FamilyMart Co Ltd		318
	11,900		G-7 Holdings, Inc		291
	8,600	e	Genky DrugStores Co Ltd		308
	123,577		George Weston Ltd		9,087
	101,697	*	Grocery Outlet Holding Corp		3,999
	302,087		Grupo Comercial Chedraui S.a. DE C.V.		331
	14,134		GS Retail Co Ltd		405
	9,000		Halows Co Ltd		355
	32,958		Heiwado Co Ltd		712
	59,191	*,e	HF Foods Group Inc		391
	39,131		Hyundai Greenfood Co Ltd		248
	92,818	e	ICA Gruppen AB		4,715
	22,757		Ingles Markets, Inc (Class A)		866
	5,570		Itochu-Shokuhin Co Ltd		299
	916,851		J Sainsbury plc		2,257
	12,000	e	Japan Meat Co Ltd		322
	748,449		Jeronimo Martins SGPS S.A.		12,035
	16,300	e	Kansai Super Market Ltd		211
	24,623		Kato Sangyo Co Ltd		883
	532,168	e	Kesko Oyj (B Shares)		13,711
	43,000	e	Kobe Bussan Co Ltd		2,368
	908,073		Koninklijke Ahold Delhaize NV		26,841

69

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,220,930		Kroger Co	$	41,402
	18,834		Kusuri no Aoki Holdings Co Ltd		1,533
	474,481	e	La Comer SAB de C.V.		750
	12,600		Laobaixing Pharmacy Chain JSC		154
	34,551		Lawson, Inc		1,648
	18,096		Life Corp		835
	166,535		Loblaw Cos Ltd		8,721
	980,339	*	Magnit PJSC (GDR)		14,627
	43,457		MARR S.p.A.		698
	104,742	e	Massmart Holdings Ltd		197
	84,994		Matsumotokiyoshi Holdings Co Ltd		3,099
	12,400	*	Maxvalu Tokai Co Ltd		300
	1,225,629		Metcash Ltd		2,435
	22,838		Metro Wholesale & Food Specialist AG.		227
	235,236	e	Metro, Inc		11,287
	147,273	*	Migros Ticaret AS		786
	14,900		Ministop Co Ltd		209
	17,770	e	Natural Grocers by Vitamin C		175
	13,200		Nihon Chouzai Co Ltd		214
	53,958	e	North West Co, Inc		1,475
	25,362		Okuwa Co Ltd		362
	336,115	*	Performance Food Group Co		11,636
	328,013		Pick’n Pay Stores Ltd		919
	283,722		President Chain Store Corp		2,583
	35,595		Pricesmart, Inc		2,365
	1,090,490		Puregold Price Club, Inc		1,105
	25,900		Qol Co Ltd		298
	1,029,980		Raia Drogasil S.A.		4,295
	28,360	*,e	Rallye S.A.		116
	9,292		Rami Levi Chain Stores Hashikma Marketing Ltd		639
	23,712		Retail Partners Co Ltd		396
	175,911	*,e	Rite Aid Corp		1,669
	469,600		Robinsons Retail Holdings, Inc		631
	19,741		Ryoshoku Ltd		520
	19,700		San-A Co Ltd		868
	740,377		Seven & I Holdings Co Ltd		23,004
	2,171,410		Sheng Siong Group Ltd		2,567
	11,411	e	Shoei Foods Corp		472
	469,254	e	Shoprite Holdings Ltd		3,828
	200,713		Shufersal Ltd		1,569
	2,269,062		SMU S.A.		337
	1,740,838	*	Sok Marketler Ticaret AS.		2,689
	936,370		Sonae SPGS S.A.		635
	103,555		Spar Group Ltd		1,173
	165,341		SpartanNash Co		2,703
	181,848	*	Sprouts Farmers Market, Inc		3,806
	38,696		Sugi Pharmacy Co Ltd		2,736
	1,229,628		Sun Art Retail Group Ltd		1,365
	146,064		Sundrug Co Ltd		5,506
	737,332		SYSCO Corp		45,877
	454,000		Taiwan TEA Corp		265
	23,899,997		Tesco plc		65,565
	54,967		Tsuruha Holdings, Inc		7,793
	223,653	*,e	United Natural Foods, Inc		3,326

70

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	59,450	e	United Super Markets Holdings, Inc	$	717
	315,768	*,e	US Foods Holding Corp		7,016
	37,894		Valor Co Ltd		1,049
	16,311		Village Super Market (Class A)		401
	830,891		Walgreens Boots Alliance, Inc		29,846
	13,846,350	e	Wal-Mart de Mexico SAB de C.V.		33,220
	3,785,629		Walmart, Inc		529,647
	15,199	e	Weis Markets, Inc		730
	86,060		Welcia Holdings Co Ltd		3,774
	319,653		WM Morrison Supermarkets plc		702
	1,255,073		Woolworths Ltd		32,819
	64,488	*	X5 Retail Group NV (GDR)		2,386
	13,300		YAKUODO Holdings Co Ltd		334
	20,100		Yaoko Co Ltd		1,493
	19,100		Yifeng Pharmacy Chain Co Ltd		279
	49,900		Yokohama Reito Co Ltd		433
	278,200		Yonghui Superstores Co Ltd		321
	134,617	*,e	Zur Rose Group AG.		32,094
			TOTAL FOOD & STAPLES RETAILING		1,681,294
FOOD, BEVERAGE & TOBACCO - 3.6%
	864,071	*	a2 Milk Co Ltd		8,794
	197,855		AAK AB		3,682
	102,781	*	Adecoagro S.A.		480
	120,149	e	AG. Barr plc		755
	13,236		Agrana Beteiligungs AG.		254
	948,595		Ajinomoto Co, Inc		19,441
	7,532		Alico, Inc		216
	234,141		Almarai Co JSC		3,311
	2,852,138		Altria Group, Inc		110,207
	4,565,730		AMBEV S.A.		10,195
	6,914,655		Anadolu Efes Biracilik Ve Malt Sanayii AS		18,460
	21,800		Angel Yeast Co Ltd		196
	764,425		Anheuser-Busch InBev S.A.		41,157
	116,500		Anhui Gujing Distillery Co Ltd		1,297
	13,300		Anhui Gujing Distillery Co Ltd (Class A)		425
	21,700		Anhui Kouzi Distillery Co Ltd		162
	780,723		Archer-Daniels-Midland Co		36,296
	20,172		Ariake Japan Co Ltd		1,369
	1,120,054	*,e	Aryzta AG.		735
	345,764		Asahi Breweries Ltd		12,051
	945,125		Associated British Foods plc		22,754
	37,108		Astral Foods Ltd		291
	4,042,023	e	Ausnutria Dairy Corp Ltd		6,444
	106,678		Austevoll Seafood ASA		889
	342,827	*,e	Australian Agricultural Co Ltd		266
	32,104		Avanti Feeds Ltd		217
	301,538		AVI Ltd		1,338
	96,156	e	B&G Foods, Inc (Class A)		2,670
	55,772	e	Bakkafrost P		3,598
	165,384	g	Bakkavor Group plc		144
	894,263		Baladna		540
	122,212		Balrampur Chini Mills Ltd		258
	2,816		Barry Callebaut AG.		6,272

71

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	454,418		Becle SAB de C.V.	$	927
	229,076	e	Bega Cheese Ltd		837
	142,300		Beijing Dabeinong Technology Group Co Ltd		187
	20,300		Beijing Shunxin Agriculture Co Ltd		180
	123,900		Beijing Yanjing Brewery Co Ltd		154
	4,455		Bell AG.		1,144
	76,857	*,e	Beyond Meat, Inc		12,763
	4,938		Binggrae Co Ltd		250
	253,314		Biostime International Holdings Ltd		1,095
	18,384		Bonduelle S.C.A.		426
	13,823	*,e	Boston Beer Co, Inc (Class A)		12,211
	554,286	*	BRF S.A.		1,814
	1,749	*	Bridgford Foods Corp		32
	55,306		Britannia Industries Ltd		2,854
	130,700		British American Tobacco Malaysia BHD		316
	3,572,969		British American Tobacco plc		128,167
	295,692		Britvic plc		3,133
	65,497		Brown-Forman Corp (Class A)		4,498
	258,426		Brown-Forman Corp (Class B)		19,465
	1,105,200	*,e	Bubs Australia Ltd		588
	5,717,929	g	Budweiser Brewing Co APAC Ltd		16,724
	412,900	e	Bumitama Agri Ltd		147
	260,251		Bunge Ltd		11,893
	644,762		C&C Group plc		1,630
	22,823		Calavo Growers, Inc		1,512
	66,704		Calbee, Inc		2,197
	43,166	*	Cal-Maine Foods, Inc		1,656
	98,367		Camil Alimentos S.A.		218
	256,086	e	Campbell Soup Co		12,387
	143,692		Carlsberg AS (Class B)		19,358
	132,352		Carlsberg Brewery-Malay BHD		661
	55,690		CCL Products India Ltd		202
	151,998	*,e	Celsius Holdings, Inc		3,452
	27,900		Chacha Food Co Ltd		238
	146,279		Charoen Pokphand Enterprise		336
	1,886,246		Charoen Pokphand Foods PCL		1,672
	1,023,335	e,g	China Feihe Ltd		2,392
	4,375,889	*,†,e	China Huishan Dairy Holdings Co Ltd		6
	370,000	*,†	China Huiyuan Juice Group Ltd		0	^
	3,087,146		China Mengniu Dairy Co Ltd		14,561
	1,678,000	*,e	China Modern Dairy Holdings		224
	2,373,629		China Resources Beer Holdings Company Ltd		14,579
	9,700		Chongqing Brewery Co Ltd		147
	25,300		Chongqing Fuling Zhacai Group Co Ltd		176
	22,307	e	Chubu Shiryo Co Ltd		375
	153,593		Cia Cervecerias Unidas S.A.		992
	3,895		CJ CheilJedang Corp		1,315
	241,892		Cloetta AB		700
	469,460		Coca-Cola Amatil Ltd		3,213
	7,614,282		Coca-Cola Co		375,917
	7,502		Coca-Cola Consolidated Inc		1,806
	246,269	e	Coca-Cola European Partners plc (Class A)		9,558
	544,791	e	Coca-Cola Femsa SAB de C.V.		2,222
	427,012		Coca-Cola HBC AG.		10,544

72

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	134,106		Coca-Cola Icecek AS	$	778
	99,150		Coca-Cola West Japan Co Ltd		1,660
	11,120,825		Cofco International Ltd		3,641
	2,236,000	e	COFCO Meat Holdings Ltd		778
	1,272,185		ConAgra Brands, Inc		45,430
	272,423		Constellation Brands, Inc (Class A)		51,627
	13,293		Corby Spirit and Wine Ltd		157
	406,027		Costa Group Holdings Ltd		984
	15,822	*	Craft Brewers Alliance, Inc		261
	57,983		Cranswick plc		2,713
	18,717		Daesang Corp		416
	1,102,500	g	Dali Foods Group Co Ltd		675
	735,882		Danone		47,667
	409,594	*	Darling International, Inc		14,758
	3,765,400		Davide Campari-Milano NV		41,097
	2,854,598		Diageo plc		98,052
	1,127		Dongwon F&B Co Ltd		165
	1,213		Dongwon Industries Co Ltd		216
	10,200	e	Dydo Drinco, Inc		518
	581,725		Eastern Tobacco		445
	77,912		Ebro Puleva S.A.		1,814
	347,500		Embotelladora Andina S.A.		768
	410,922	e	Embotelladoras Arca SAB de C.V.		1,780
	3,390		Emmi AG.		3,387
	49,615		Ezaki Glico Co Ltd		2,219
	22,204	*,e	Farmer Bros Co		98
	24,307		Feed One Co Ltd		215
	5,487,200		Felda Global Ventures Holdings BHD		1,524
	1,326,526		Fevertree Drinks plc		39,643
	630,100		First Resources Ltd		561
	278,604		Flowers Foods, Inc		6,778
	1,887,719		Fomento Economico Mexicano S.A. de C.V.		10,637
	556,200		Fomento Economico Mexicano SAB de C.V. (ADR)		31,253
	41,925		ForFarmers NV		257
	81,520		Foshan Haitian Flavouring & Food Co Ltd		1,948
	128,797		Fraser & Neave Holdings BHD		997
	74,371	†,e	Freedom Foods Group Ltd		120
	48,954		Fresh Del Monte Produce, Inc		1,122
	193,719	*	Freshpet, Inc		21,629
	57,627		Fuji Oil Co Ltd		1,814
	38,900		Fujian Sunner Development Co Ltd		125
	21,432		Fujicco Co Ltd		424
	11,782		Fujiya Co Ltd		270
	417,607		Futuris Corp Ltd		3,260
	897,012		General Mills, Inc		55,328
	208,774		Genting Plantations BHD		498
	432,900		GFPT PCL (Foreign)		169
	229,970		Glanbia plc		2,375
	12,757		Godfrey Phillips India Ltd		160
	6,816,325		Golden Agri-Resources Ltd		713
	257,649	*	GrainCorp Ltd-A		698
	559,107		Great Wall Enterprise Co		819
	521,597		Greencore Group plc		660
	56,323		Grieg Seafood ASA		515

73

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	205,371		Gruma SAB de C.V.	$	2,276
	1,501,113		Grupo Bimbo S.A. de C.V. (Series A)		2,809
	197,856	e	Grupo Herdez SAB de C.V.		358
	294,200		Guan Chong Bhd		235
	46,600		Guangdong Haid Group Co Ltd		421
	117,687	*	Hain Celestial Group, Inc		4,037
	58,400		Heilongjiang Agriculture Co Ltd		159
	105,322		Heineken Holding NV		8,208
	271,834		Heineken NV		24,201
	80,800		Henan Shuanghui Investment & Development Co Ltd		630
	323,108		Hershey Co		46,314
	24,000		Hokuto Corp		512
	392,958		Hormel Foods Corp		19,212
	272,154	*	Hostess Brands, Inc		3,356
	52,242	e	Hotel Chocolat Group Ltd		239
	67,462		House Foods Corp		2,398
	882,314		Imperial Tobacco Group plc		15,585
	1,137,030		Indofood CBP Sukses Makmur Tbk		771
	355,003		Inghams Group Ltd		762
	130,470	e	Ingredion, Inc		9,874
	196,100		Inner Mongolia Yili Industrial Group Co Ltd		1,113
	1,175,797		IOI Corp BHD		1,264
	2,381,144		ITC Ltd		5,563
	36,929		Ito En Ltd		2,634
	167,700		Itoham Yonekyu Holdings, Inc		1,202
	21,351		J&J Snack Foods Corp		2,784
	155,720		J.M. Smucker Co		17,989
	1,194,619		Japan Tobacco, Inc		21,794
	1,329,742		Japfa Ltd		588
	1,046,897		JBS S.A.		3,853
	27,307		Jeil Holdings Co Ltd		153
	45,100		Jiangsu King’s Luck Brewery JSC Ltd		295
	50,500		Jiangsu Yanghe Brewery Joint-Stock Co Ltd		930
	59,100		Jiangxi Zhengbang Technology Co Ltd		158
	30,157		Jinro Ltd		933
	34,901		John B. Sanfilippo & Son, Inc		2,631
	10,273		J-Oil Mills, Inc		385
	20,900		Jonjee Hi-Tech Industrial And Commercial Holding Co Ltd		202
	16,900		Juewei Food Co Ltd		204
	390,493		Juhayna Food Industries		157
	89,146		Kagome Co Ltd		3,116
	13,800		Kameda Seika Co Ltd		708
	36,495		Kaveri Seed Co Ltd		264
	361,197		Kellogg Co		23,330
	11,900		Kenko Mayonnaise Co Ltd		208
	241,742		Kerry Group plc (Class A)		30,964
	2,377,815		Keurig Dr Pepper, Inc		65,628
	20,300		KEY Coffee, Inc		427
	1,561,500		Khon Kaen Sugar Industry PCL		109
	129,280	e	Kikkoman Corp		7,172
	762,004		Kirin Brewery Co Ltd		14,312
	44,480		Kotobuki Spirits Co Ltd		2,288
	914,359		Kraft Heinz Co		27,385

74

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,859		KRBL Ltd	$	173
	59,776		KT&G Corp		4,222
	207,290		Kuala Lumpur Kepong BHD		1,136
	89,753		Kweichow Moutai Co Ltd		22,074
	13,026		KWS Saat AG.		1,100
	12,157		La Doria S.p.A		159
	263,876		Lamb Weston Holdings, Inc		17,487
	19,112		Lancaster Colony Corp		3,417
	44,437	*	Landec Corp		432
	3,492		Lassonde Industries, Inc		379
	1,151,500		Leong Hup International BHD		198
	339,472		Leroy Seafood Group ASA		1,949
	740,369		Lien Hwa Industrial Corp		1,022
	24,132	e	Limoneira Co		345
	1,021	e	Lindt & Spruengli AG.		8,618
	96		Lindt & Spruengli AG. (Registered)		8,553
	3,450		Lotte Chilsung Beverage Co Ltd		265
	1,652		Lotte Confectionery Co Ltd		143
	360		Lotte Samkang Co Ltd		93
	83,760		Luzhou Laojiao Co Ltd		1,774
	79,339		M Dias Branco S.A.		483
	8,853		Maeil Dairies Co Ltd		512
	88,090		Maple Leaf Foods, Inc		1,796
	374,199	*	Marfrig Global Foods S.A.		1,016
	19,300		Marudai Food Co Ltd		319
	42,400		Maruha Nichiro Corp		973
	179,873		McCormick & Co, Inc		34,913
	49,687		Megmilk Snow Brand Co Ltd		1,203
	98,014		MEIJI Holdings Co Ltd		7,487
	40,792		MGP Ingredients, Inc		1,621
	244,428	*	Minerva S.A.		511
	17,500		Mitsui Sugar Co Ltd		324
	235,405		Molson Coors Brewing Co (Class B)		7,900
	4,676,901		Mondelez International, Inc		268,688
	1,754,678	*	Monster Beverage Corp		140,725
	43,579		Morinaga & Co Ltd		1,720
	41,713		Morinaga Milk Industry Co Ltd		2,200
	409,836	e	Mowi ASA		7,292
	181,866		Muyuan Foodstuff Co Ltd		1,984
	12,113		Nagatanien Co Ltd		286
	145,000		Namchow Chemical Industrial Ltd		211
	49,313	*	National Agriculture Development Co		421
	10,716	e	National Beverage Corp		729
	44,700	*	Naturecell Co Ltd		375
	22,907		Nestle India Ltd		4,944
	69,300		Nestle Malaysia BHD		2,359
	3,940,023		Nestle S.A.		468,910
	121,700		New Hope Liuhe Co Ltd		497
	120,749	*	NewAge, Inc		209
	124,192		Nichirei Corp		3,284
	10,297		Nippon Beet Sugar Manufacturing Co Ltd		182
	53,297		Nippon Flour Mills Co Ltd		878
	63,760		Nippon Meat Packers, Inc		2,850
	315,459		Nippon Suisan Kaisha Ltd		1,343

75

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,522		Nisshin Oillio Group Ltd	$	861
	180,747		Nisshin Seifun Group, Inc		2,869
	100,633		Nissin Food Products Co Ltd		9,454
	361,568		Nissin Foods Co Ltd		379
	2,782		Nong Shim Co Ltd		746
	1,852		Nong Shim Holdings Co Ltd		118
	14,700		Norway Royal Salmon ASA		337
	79,642		Oceana Group Ltd		295
	141,583	e	Origin Enterprises plc		555
	19,684		Orion Corp		204
	11,238		Orion Corp/Republic of Korea		1,259
	6,881		Orior AG.		551
	767,565		Orkla ASA		7,747
	778,100		Osotspa PCL		862
	604		Ottogi Corp		294
	3,203,743		PepsiCo, Inc		444,039
	203,442		Pernod-Ricard S.A.		32,436
	4,123,987		Philip Morris International, Inc		309,258
	73,749	*	Pilgrim’s Pride Corp		1,104
	93,199	*	Post Holdings, Inc		8,015
	294,449		PPB Group BHD		1,348
	683,401	*	Premier Foods plc		816
	36,975	e	Premium Brands Holdings Corp		2,792
	76,338		Prima Meat Packers Ltd		2,354
	386,110	e	Primo Water Corp		5,483
	157,380		Primo Water Corp (Toronto)		2,235
	415,800		PT Astra Agro Lestari Tbk		286
	6,928,618		PT Charoen Pokphand Indonesia Tbk		2,652
	242,211		PT Gudang Garam Tbk		653
	4,750,300		PT Hanjaya Mandala Sampoerna Tbk		449
	5,305,991		PT Indofood Sukses Makmur Tbk		2,559
	9,135,000	*,†	PT Inti Agri Resources Tbk		31
	4,086,412		PT Japfa Comfeed Indonesia Tbk		305
	2,772,600		PT Perusahaan Perkebunan London Sumatra Indonesia Tbk		170
	2,978,300		PT Sawit Sumbermas Sarana Tbk		160
	12,287		Pulmuone Co Ltd		176
	117,197		Q.P. Corp		2,410
	620,100		QL Resources BHD		1,465
	50,226		Radico Khaitan Ltd		277
	21,045		Remy Cointreau S.A.		3,841
	23,100		Riken Vitamin Co Ltd		472
	19,325	e	Rock Field Co Ltd		271
	101,235	e	Rogers Sugar, Inc		364
	14,600		Rokko Butter Co Ltd		262
	10,104		Ros Agro plc (ADR)		97
	106,435		Royal Unibrew A.S.		10,970
	19,994		S Foods, Inc		558
	674,890		Saigon Beer Alcohol Beverage Corp		5,360
	30,555		Sakata Seed Corp		1,097
	62,937		Salmar ASA		3,567
	1,789		Samlip General Foods Co Ltd		94
	2,919		Samyang Corp		136
	2,621		Samyang Foods Co Ltd		222

76

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,146		Samyang Holdings Corp	$	172
	20,814		Sanderson Farms, Inc		2,455
	171,807		Sao Martinho S.A.		666
	70,786		Sapporo Holdings Ltd		1,273
	228,333		Saputo, Inc		5,727
	26,517		Saudia Dairy & Foodstuff Co		1,292
	244,860		Savola Group		3,139
	53,509		Scandi Standard AB		410
	152,684	g	Scandinavian Tobacco Group A.S.		2,261
	13,976		Schouw & Co		1,353
	354		Seaboard Corp		1,004
	132,196		Select Harvests Ltd		529
	11,960	*,e	Seneca Foods Corp		427
	26,737		Shanxi Xinghuacun Fen Wine Factory Co Ltd		781
	19,687	e	Showa Sangyo Co Ltd		656
	16,900		Sichuan Swellfun Co Ltd		161
	1,016,713		Sime Darby Plantation BHD		1,238
	254,838	*	Simply Good Foods Co		5,619
	86,839		SLC Agricola S.A.		394
	191,194		Standard Foods Corp		403
	7,000		Starzen Co Ltd		277
	59,893		Strauss Group Ltd		1,719
	80,413		Suedzucker AG.		1,555
	112,023		Suntory Beverage & Food Ltd		4,207
	559,994		Swedish Match AB		45,789
	89,081	*	Synlait Milk Ltd		324
	177,000		Taisun Enterprise Co Ltd		129
	156,903		Takara Holdings, Inc		1,742
	405,100		Taokaenoi Food & Marketing PCL		132
	265,823		Tassal Group Ltd		663
	399,694		Tata Tea Ltd		2,712
	520,430		Tate & Lyle plc		4,466
	1,525,809		Thai Union Group PCL		678
	408,469		Thai Vegetable Oil PCL (Foreign)		423
	78,601		Tiger Brands Ltd		895
	1,008,290		Tingyi Cayman Islands Holding Corp		1,785
	20,000		Toly Bread Co Ltd		176
	126,200		Tongwei Co Ltd		496
	19,718	e	Tootsie Roll Industries, Inc		609
	66,317		Toyo Suisan Kaisha Ltd		3,502
	667,026		Treasury Wine Estates Ltd		4,286
	79,795	*	TreeHouse Foods, Inc		3,234
	397,879		Tsingtao Brewery Co Ltd		3,256
	22,100		Tsingtao Brewery Co Ltd (Class A)		244
	38,000		Ttet Union Corp		156
	10,320	e	Turning Point Brands, Inc		288
	423,383		Tyson Foods, Inc (Class A)		25,183
	140,112	*	Ulker Biskuvi Sanayi AS		412
	700,000		Uni-President China Holdings Ltd		642
	3,445,053		Uni-President Enterprises Corp		7,461
	311,337	*	United Malt Grp Ltd		922
	138,151	*	United Spirits Ltd		967
	37,857		Universal Corp		1,585
	428,944		Universal Robina		1,190

77

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	66,088		Varun Beverages Ltd	$	627
	209,172		Vector Group Ltd		2,027
	7,812		Vilmorin & Cie		457
	396,143		Vina Concha y Toro S.A.		649
	74,660		Viscofan S.A.		4,981
	10,401	*	Vital Farms, Inc		422
	866,000	e	Vitasoy International Holdings Ltd		3,377
	2,627,714		Want Want China Holdings Ltd		1,836
	13,732		Warabeya Nichiyo Co Ltd		204
	248,561		Wei Chuan Food Corp		169
	213,700		Wens Foodstuffs Group Co Ltd		615
	12,523,000	g	WH Group Ltd		10,215
	942,080		Wilmar International Ltd		3,059
	484,289		Wuliangye Yibin Co Ltd		15,789
	111,071		Yakult Honsha Co Ltd		6,167
	93,467		Yamazaki Baking Co Ltd		1,629
	446,000		Yihai International Holding Ltd		7,005
	40,300		Yuan Longping High-tech Agriculture Co Ltd		109
	542,000	g	Zhou Hei Ya International Holdings Co Ltd		568
			TOTAL FOOD, BEVERAGE & TOBACCO		4,038,900
HEALTH CARE EQUIPMENT & SERVICES - 5.3%
	196,432	*,e	1Life Healthcare, Inc		5,571
	3,298,299		Abbott Laboratories		358,954
	11,159	*	Abiomed, Inc		3,092
	102,927	*	Acadia Healthcare Co, Inc		3,034
	8,344	*	Accolade, Inc		324
	77,828	*	Accuray, Inc		187
	7,109	*	Acutus Medical, Inc		212
	21,917	*	AdaptHealth Corp		478
	14,283	*,e	Addus HomeCare Corp		1,350
	246,743		Advanced Medical Solutions Group plc		686
	275,588	*	AGFA-Gevaert NV		1,149
	792,786		Aier Eye Hospital Group Co Ltd		6,008
	352,000	g	AK Medical Holdings Ltd		906
	55,833	*	Al Hammadi Co for Development and Investment		432
	1,185,458		Alcon, Inc		67,210
	370,971		Alcon, Inc (XNYS)		21,127
	31,590		Alfresa Holdings Corp		692
	8,836,659	*	Alibaba Health Information Technology Ltd		21,730
	104,793	*	Align Technology, Inc		34,305
	52,240		Alliar Medicos A Frente S.A.		94
	252,347	*	Allscripts Healthcare Solutions, Inc		2,054
	35,978	*	Alphatec Holdings Inc		239
	86,395	g	Ambea AB		582
	152,217	e	Ambu A.S.		4,286
	51,915	*	Amedisys, Inc		12,274
	21,971	*	American Renal Associates Holdings, Inc		152
	171,059		AmerisourceBergen Corp		16,579
	77,472	*	AMN Healthcare Services, Inc		4,529
	354,895		Amplifon S.p.A.		12,691
	12,346		Andlauer Healthcare Group, Inc		403
	97,780	*	Angiodynamics, Inc		1,179
	428,324		Ansell Ltd		11,395

78

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	127,308	*,e	Antares Pharma, Inc	$	344
	619,064		Anthem, Inc		166,274
	104,831		Apollo Hospitals Enterprise Ltd		3,055
	15,119	*,e	Apollo Medical Holdings, Inc		271
	41,605	*,e	Apyx Medical Corp		196
	395,047		Arjo AB		2,446
	30,107		As One Corp		4,313
	61,040		Asahi Intecc Co Ltd		1,918
	34,548		Ascom Holding AG.		479
	162,149	*	AtriCure, Inc		6,470
	1,059		Atrion Corp		663
	120,531	g	Attendo AB		657
	935,338		Australian Pharmaceutical Industries Ltd		704
	11,300		Autobio Diagnostics Co Ltd		268
	22,465	*,e	Avalon GloboCare Corp		28
	75,997	*	Avanos Medical, Inc		2,525
	35,020	*	AxoGen, Inc		407
	27,635	*,e	Axonics Modulation Technologies, Inc		1,411
	1,264,556		Bangkok Chain Hospital PCL		557
	4,563,745		Bangkok Dusit Medical Services PCL (Foreign)		2,823
	4,274,772		Baxter International, Inc		343,777
	107,471		Becton Dickinson & Co		25,006
	71,750		Beijing Chunlizhengda Medical Instruments Co Ltd		347
	12,070	*,e	Beyond Air, Inc		63
	54,295	*,e,g	Biocartis NV		287
	19,532	*,e	BioLife Solutions Inc		565
	27,937		BioMerieux		4,373
	24,536	*,e	BioSig Technologies Inc		121
	27,885	*	BioTelemetry, Inc		1,271
	23,345		BML, Inc		705
	13,385		Boditech Med, Inc		357
	9,157,190	*	Boston Scientific Corp		349,896
	382,968	*	Brookdale Senior Living, Inc		973
	218,665		Bumrungrad Hospital PCL (Foreign)		659
	56,354		Cantel Medical Corp		2,476
	339,472		Cardinal Health, Inc		15,938
	57,974	*,e	Cardiovascular Systems, Inc		2,281
	85,349		Carl Zeiss Meditec AG.		10,780
	17,523	e	Cellavision AB		700
	20,950	*	CELLINK AB		475
	51,000	*	Celltrion Healthcare Co Ltd		3,826
	1,345,518	*	Centene Corp		78,484
	400,173		Cerner Corp		28,929
	138,281	*	Cerus Corp		866
	35,705	*	CHA Bio & Diostech Co Ltd		579
	292,707	*	Change Healthcare, Inc		4,247
	127,264	*,e	Chembio Diagnostics, Inc		619
	18,398		Chemed Corp		8,837
	15,000		China National Accord Medicines Corp Ltd		102
	25,500		China National Medicines Corp Ltd		164
	757,000	e	China Resources Phoenix Healthcare Holdings Co Ltd		496
	4,531,274		Chularat Hospital PCL		344
	1,267,769		Cigna Corp		214,773
	976,289	*	Cleopatra Hospital		310

79

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	356,000	e	C-Mer Eye Care Holdings Ltd	$	261
	143,280		Cochlear Ltd		20,470
	180,544	*,e	Co-Diagnostics, Inc		2,454
	120,356		Coloplast AS		19,075
	5,413	e	Coltene Holding AG.		410
	363,124	*,e	Community Health Systems, Inc		1,532
	26,723		CompuGroup Medical SE & Co KgaA		2,473
	20,640		Computer Programs & Systems, Inc		570
	85,294		Conmed Corp		6,710
	2,716,665	g	ConvaTec Group plc		6,258
	8,337		Cooper Cos, Inc		2,811
	7,016	*	Corvel Corp		599
	258,734	*,e	Covetrus, Inc		6,313
	67,719	e	Craneware plc		1,354
	77,628	*	Cross Country Healthcare, Inc		504
	44,966	*,e	CryoLife, Inc		831
	42,645	*,e	CryoPort, Inc		2,021
	13,299	*	Cutera, Inc		252
	75,578		CVS Group plc		1,205
	2,560,429		CVS Health Corp		149,529
	123,931	*,e	CYBERDYNE, Inc		612
	30,777	*,e	CytoSorbents Corp		245
	29,547		Dallah Healthcare Co		372
	1,502,139		Danaher Corp		323,456
	123,660	*	DaVita, Inc		10,591
	6,101		Dentium Co Ltd		179
	345,771		Dentsply Sirona, Inc		15,121
	354,807	*	DexCom, Inc		146,262
	23,487		DiaSorin S.p.A.		4,725
	8,221	*	DIO Corp		219
	26,749	g	Dr Lal PathLabs Ltd		683
	22,068		Draegerwerk AG.		1,919
	3,463		Draegerwerk AG. & Co KGaA		255
	45,811		Eckert & Ziegler Strahlen- und Medizintechnik AG.		2,344
	492,989	*	Edwards Lifesciences Corp		39,350
	34,100		Eiken Chemical Co Ltd		687
	12,093		El.En. S.p.A		307
	111,069	e	Elan Corp		2,760
	6,307	*,e	Electromed, Inc		66
	409,575	e	Elekta AB (B Shares)		5,147
	37,200		EM Systems Co Ltd		308
	64,101		EMIS Group plc		860
	160,238		Encompass Health Corp		10,412
	96,269		Ensign Group, Inc		5,493
	3,034,723	*	Envista Holdings Corp		74,897
	108,572	*,e	Enzo Biochem, Inc		229
	232,728		Estia Health Ltd		244
	323,251	*	Evolent Health, Inc		4,012
	780	*,e	Exagen, Inc		8
	163,019	e	Extendicare, Inc		653
	67,556		Fagron NV		1,706
	973,523		Fisher & Paykel Healthcare Corp		21,486
	17,539	*,e	Five Star Senior Living, Inc		89
	188,106		Fleury S.A.		887

80

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	9,392	*	FONAR Corp	$	196
	420,347	*	Fortis Healthcare Ltd		772
	516,791		Fresenius Medical Care AG.		43,688
	188,999		Fresenius SE		8,595
	8,587	*,e	Fulgent Genetics, Inc		344
	118,367	g	Galenica AG.		8,231
	922,175	e,g	Genertec Universal Medical Group Company Limited		613
	320,848	*,e	GenMark Diagnostics, Inc		4,556
	461,484		Getinge AB (B Shares)		10,041
	45,150		Ginko International Co Ltd		211
	38,802	*,e	Glaukos Corp		1,921
	31,961	*	Globus Medical, Inc		1,583
	112,018		GN Store Nord		8,439
	73,868		Green Hospital Supply, Inc		3,617
	23,900		Guangzhou Kingmed Diagnostics Group Co Ltd		360
	11,600		Guangzhou Wondfo Biotech Co Ltd		142
	739,059	*	Guardant Health, Inc		82,612
	6,455		Guerbet		207
	8,945	*	Haemonetics Corp		780
	56,395	*	Hanger Inc		892
	106,000	g	Hapvida Participacoes e Investimentos S.A.		1,173
	1,602,700		Hartalega Holdings BHD		6,277
	674,388		HCA Healthcare, Inc		84,083
	580,433		Healius Ltd		1,502
	114,402	*,e	Health Catalyst, Inc		4,187
	131,549	*,e	HealthEquity, Inc		6,758
	52,861	*	HealthStream, Inc		1,061
	168,224	*	Henry Schein, Inc		9,888
	8,819	*,e	Heska Corp		871
	53,405		Hill-Rom Holdings, Inc		4,460
	36,523	*	HLB Life Science CO Ltd		965
	22,640		HLS Therapeutics, Inc		238
	229,644	*	HMS Holdings Corp		5,500
	24,400		Hogy Medical Co Ltd		836
	995,922	*	Hologic, Inc		66,199
	437,546	*	Hoya Corp		49,406
	52,800		Huadong Medicine Co Ltd		192
	476,740		Humana, Inc		197,318
	4,342		Huons Global Co Ltd		113
	289,002		Ibnsina Pharma SAE		134
	17,826	*,e	iCAD, Inc		157
	4,317	*	ICU Medical, Inc		789
	171,425	*	IDEXX Laboratories, Inc		67,389
	1,022,542		IHH Healthcare BHD		1,283
	6,542	*	Inari Medical, Inc		452
	13,011	*	InfuSystem Holdings, Inc		167
	17,687	*	Inmode Ltd		640
	19,076	*	Inogen, Inc		553
	360,810	*	Inovalon Holdings, Inc		9,543
	33,041	*	Inspire Medical Systems, Inc		4,264
	48,283		Instituto Hermes Pardini S.A.		195
	89,182	*,e	Insulet Corp		21,100
	91,183	*	Integer Holding Corp		5,381
	15,666	*	Integra LifeSciences Holdings Corp		740

81

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	150,832		Integral Diagnostics Ltd	$	455
	14,620	*,e	IntriCon Corp		178
	129,316	*	Intuitive Surgical, Inc		91,755
	31,964	e	Invacare Corp		240
	24,065	e	Ion Beam Applications		311
	12,932	*,e	iRadimed Corp		276
	45,089	*	iRhythm Technologies, Inc		10,736
	350,000		IVD Medical Holding Ltd		106
	34,610		Jafron Biomedical Co Ltd		362
	67,200		Japan Lifeline Co Ltd		892
	16,200		Japan Medical Dynamic Marketing, Inc		334
	41,188		Jeol Ltd		1,420
	55,500		Jiangsu Yuyue Medical Equipment & Supply Co Ltd		268
	48,836	*,e	Joint Corp		849
	29,300		Jointown Pharmaceutical Group Co Ltd		73
	1,199,419		Koninklijke Philips Electronics NV		56,636
	59,119		Korian-Medica		2,072
	563,200		Kossan Rubber Industries		1,862
	1,891,828		KPJ Healthcare BHD		387
	150,175	*	Laboratory Corp of America Holdings		28,273
	193,106	*	Lantheus Holdings, Inc		2,447
	5,499		Le Noble Age		305
	12,491		LeMaitre Vascular, Inc		406
	55,600		Lepu Medical Technology Beijing Co Ltd		276
	43,731	*	LHC Group, Inc		9,295
	14,559,715		Life Healthcare Group Holdings Pte Ltd		14,801
	2,672,000	*,e	Lifetech Scientific Corp		674
	99,819	*	LivaNova plc		4,513
	65,449	*	Livongo Health, Inc		9,166
	3,728	*	Lyra Therapeutics, Inc		42
	492,838		M3, Inc		30,485
	68,813	*	Magellan Health Services, Inc		5,215
	77,563		Mani, Inc		2,120
	20,465	*	Masimo Corp		4,831
	291,625		McKesson Corp		43,432
	7,911	*,g	Medacta Group S.A.		741
	4,706	*,e,g	Medartis Holding AG.		233
	29,500	*,e	Medical Data Vision Co Ltd		614
	127,177		Medicare Group		266
	159,473		Mediceo Paltac Holdings Co Ltd		3,198
	446,366		Mediclinic International plc		1,639
	13,202	*	Medipost Co Ltd		366
	124,589	*	MEDNAX, Inc		2,028
	2,282,705	e	Medtronic plc		237,219
	124,148		Meinian Onehealth Healthcare Holdings Co Ltd		259
	31,242		Menicon Co Ltd		2,088
	192,819	*	Meridian Bioscience, Inc		3,274
	59,675	*	Merit Medical Systems, Inc		2,596
	3,550		Mesa Laboratories, Inc		904
	193,026		Metlifecare Ltd		764
	21,721	g	Metropolis Healthcare Ltd		529
	671,000		Microport Scientific Corp		2,683
	33,935	*	Middle East Healthcare Co		332
	30,534	*,e	Milestone Scientific, Inc		42

82

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	56,900	e	Miraca Holdings, Inc	$	1,522
	31,612	*,e	Misonix Inc		371
	74,775	*,g	MLP Saglik Hizmetleri AS.		166
	98,131	*	Molina Healthcare, Inc		17,962
	47,370		Mouwasat Medical Services Co		1,579
	25,236		Nagaileben Co Ltd		715
	79,522		Nakanishi, Inc		1,421
	287,053	*	Nanosonics Ltd		1,174
	76,423	*,e	NantHealth, Inc		179
	19,886		National Healthcare Corp		1,239
	20,003		National Medical Care Co		295
	10,956		National Research Corp		539
	111,914	*	Natus Medical, Inc		1,917
	6,565	*,e	Nemaura Medical, Inc		23
	79,347	*	Neogen Corp		6,209
	1,113,084		Network Healthcare Holdings Ltd		859
	2,121		Neuca S.A.		277
	165,539	*	Nevro Corp		23,060
	122,947	*	NextGen Healthcare, Inc		1,566
	88,677		Nihon Kohden Corp		2,917
	54,067		Nikkiso Co Ltd		551
	157,252		Nipro Corp		1,836
	159,379	†	NMC Health plc		2
	14,098	g	NNIT A.S.		293
	243,900		Notre Dame Intermedica Participacoes S.A.		2,826
	145,768	*,e	Novocure Ltd		16,225
	76,953	*	NuVasive, Inc		3,738
	24,514	*	Oak Street Health, Inc		1,310
	704,081		Oceania Healthcare Ltd		536
	241,975		Odontoprev S.A.		517
	1,115,970		Olympus Corp		23,207
	51,659	*	Omnicell, Inc		3,857
	34,305	*,e	Ontrak, Inc		2,058
	25,479	*,e	OptimizeRx Corp		531
	337,003	*	Option Care Health, Inc		4,506
	83,811	*	OraSure Technologies, Inc		1,020
	130,251		Oriola-KD Oyj (B Shares)		289
	6,871		Orpea		781
	81,928	*	Orthofix Medical Inc		2,551
	10,610	*,e	OrthoPediatrics Corp		487
	9,947	*	Osstem Implant Co Ltd		329
	17,300		Ovctek China, Inc		159
	182,635		Owens & Minor, Inc		4,586
	21,772		Paramount Bed Holdings Co Ltd		900
	198,077		Patterson Cos, Inc		4,775
	31,616	*,e	PAVmed, Inc		56
	48,483	*,e	Pennant Group, Inc		1,870
	5,249	*,e	Penumbra, Inc		1,020
	38,267	*,e	PetIQ, Inc		1,260
	233,074	*	Phreesia, Inc		7,489
	79,000	*,†	Pihsiang Machinery Manufacturing Co Ltd		0	^
	495,800	*,e,g	Ping An Healthcare and Technology Co Ltd		6,397
	632,051	*,e	PolyNovo Ltd		1,011
	208,910	*	PPD, Inc		7,728

83

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	70,365		Premier, Inc	$	2,310
	59,479	e	Pro Medicus Ltd		1,160
	60,649	*,e	Progyny, Inc		1,785
	1,921	*	Protara Therapeutics, Inc		32
	67,187	*	Providence Service Corp		6,242
	12,828	*,e	Pulse Biosciences, Inc		151
	214,863		Qualicorp S.A.		1,300
	403,718		Quest Diagnostics, Inc		46,222
	14,391	*	Quidel Corp		3,157
	53,650	*,e	Quotient Ltd		276
	721,458	*	R1 RCM, Inc		12,373
	49,727	*	RadNet, Inc		763
	1,066,399	e	Raffles Medical Group Ltd		633
	57,646		Ramsay Health Care Ltd		2,749
	152,838		Regis Healthcare Ltd		115
	21,508	*,e	Repro-Med Systems, Inc		155
	25,155		Resmed, Inc		4,312
	68,808	*,e	Retractable Technologies, Inc		458
	59,897	*,e	Rockwell Medical, Inc		64
	125,930		Ryman Healthcare Ltd		1,183
	35,522		Sartorius AG.		14,560
	38,567		Saudi Chemical Co		344
	50,954	*	SeaSpine Holdings Corp		729
	16,762	*	Sedana Medical AB		496
	96,309		Selcuk Ecza Deposu Ticaret ve Sanayi AS		107
	612,488	*	Select Medical Holdings Corp		12,752
	1,787,215		Shandong Weigao Group Medical Polymer Co Ltd		3,576
	28,741		Shanghai Kindly Medical Instruments Co Ltd		175
	51,900		Shanghai Pharmaceuticals Holding Co Ltd		155
	411,240		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		690
	12,614	*,e	Sharps Compliance Corp		79
	205,060		Shenzhen Mindray Bio-Medical Electronics Co Ltd		10,504
	112,784	*	Shockwave Medical Inc		8,549
	52,181	*	SI-BONE, Inc		1,238
	35,713	g	Siemens Healthineers AG.		1,603
	73,365	e	Sienna Senior Living, Inc		617
	44,072	*,e	Sientra, Inc		150
	1,843,691		Sigma Healthcare Ltd		780
	70,651	*	Silk Road Medical Inc		4,748
	11,917		Simulations Plus, Inc		898
	681,971		Sinopharm Group Co		1,441
	622,040		Smith & Nephew plc		12,185
	2,800		Software Service, Inc		295
	49,800		Solasto Corp		653
	5,231	*,e	Soliton Inc		40
	714,276		Sonic Healthcare Ltd		16,962
	61,393		Sonova Holdings AG		15,558
	316,479	g	Spire Healthcare Group plc		389
	45,000		St. Shine Optical Co Ltd		444
	83,510	*,e	Staar Surgical Co		4,723
	39,333	*,e	Stereotaxis, Inc		141
	118,798		STERIS plc		20,931
	8,134		STRATEC Biomedical AG.		1,182

84

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	10,693	e	Straumann Holding AG.	$	10,817
	563,822		Stryker Corp		117,484
	4,990		Suheung Capsule Co Ltd		241
	245,647		Summerset Group Holdings Ltd		1,469
	1,417,400		Supermax Corp BHD		2,888
	129,036	*,e	Surgalign Holdings, Inc		234
	78,904	*,e	Surgery Partners, Inc		1,728
	15,153	*	SurModics, Inc		590
	41,541	*	Suven Pharmaceuticals Ltd		214
	41,541	*	Suven Pharmaceuticals Ltd		214
	17,239		Suzuken Co Ltd		658
	149,842		Sysmex Corp		14,337
	15,974	*,e	Tabula Rasa HealthCare, Inc		651
	20,368	*,e	Tactile Systems Technology, Inc		745
	47,000		TaiDoc Technology Corp		312
	116,438	*	Tandem Diabetes Care, Inc		13,216
	4,728	*,e	Tela Bio, Inc		78
	119,837	*,e	Teladoc, Inc		26,273
	69,611		Teleflex, Inc		23,697
	195,845	*,e	Tenet Healthcare Corp		4,800
	609,864		Terumo Corp		24,282
	430,011		Thonburi Healthcare Group PCL		253
	53,508	*	Tivity Health, Inc		750
	152,130		Toho Pharmaceutical Co Ltd		3,281
	22,409		Tokai Corp (GIFU)		443
	4,606,200		Top Glove Corp BHD		9,235
	15,600	*	Topchoice Medical Corp		491
	2,414,000	†,e	Town Health International Medical Group Ltd		3
	22,097	*,e	Transmedics Group, Inc		305
	37,391	*	Triple-S Management Corp (Class B)		668
	57,118		Tsuki Corp		321
	230,380		Uniphar plc		670
	1,608,778		United Drug plc		16,002
	2,224,966		UnitedHealth Group, Inc		693,678
	85,792	e	Universal Health Services, Inc (Class B)		9,181
	9,883		US Physical Therapy, Inc		859
	3,922	e	Utah Medical Products, Inc		313
	6,975		Value Added Technologies Co Ltd		130
	76,594	*	Vapotherm, Inc		2,221
	57,492	*,e	Varex Imaging Corp		731
	14,482	*	Varian Medical Systems, Inc		2,491
	196,163	*	Veeva Systems, Inc		55,159
	17,477	*,e	Venus Concept, Inc		41
	30,533	*,e	Viemed Healthcare, Inc		264
	38,026	*,e	Viemed Healthcare, Inc (Toronto)		330
	6,841		Vieworks Co Ltd		176
	145,461	*,e	ViewRay, Inc		509
	45,000		VITAL KSK Holdings, Inc		466
	26,272	*	Vocera Communications, Inc		764
	85,829	*,e	VolitionRX Ltd		276
	302,568		West Pharmaceutical Services, Inc		83,176
	14,464	*	William Demant Holding A.S.		454
	54,600		Winning Health Technology Group Co Ltd		157
	136,043	*,e	Wright Medical Group NV		4,155

85

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	200,705	*,e	Xvivo Perfusion AB	$	6,088
	3,336	e	Ypsomed Holding AG.		488
	2,496,788		Zimmer Biomet Holdings, Inc		339,913
	18,807	e	Zynex Inc		328
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		5,983,960
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	7,922		Aekyung Industrial Co Ltd		137
	383,364		Amorepacific Corp		53,445
	5,312		Amorepacific Corp (Preference)		262
	68,686		Bajaj Corp Ltd		171
	156,560		Beiersdorf AG.		17,775
	103,404	*	BellRing Brands, Inc		2,145
	5,499,000	†,e	Best World International Ltd		4,109
	14,693	e	Blackmores Ltd		667
	305,256		BWX Ltd		967
	49,100		By-health Co Ltd		152
	76,200		C&S Paper Co Ltd		241
	35,462	*,e	Central Garden & Pet Co		1,416
	164,458	*	Central Garden and Pet Co (Class A)		5,944
	43,000		Chlitina Holding Ltd		271
	350,179		Church & Dwight Co, Inc		32,815
	196,665		Clorox Co		41,333
	1,636,160		Colgate-Palmolive Co		126,230
	28,218		Colgate-Palmolive India Ltd		549
	6,823		Cosmax, Inc		675
	409,349		Coty, Inc		1,105
	264,765		Dabur India Ltd		1,835
	14,830		Earth Chemical Co Ltd		1,105
	91,333	*	Edgewell Personal Care Co		2,546
	475,803	*	elf Beauty, Inc		8,741
	99,150		Emami Ltd		473
	90,815		Energizer Holdings, Inc		3,554
	565,904		Essity AB		19,106
	675,310		Estee Lauder Cos (Class A)		147,386
	88,800	*	Euglena Co Ltd		745
	87,084		Fancl Corp		2,844
	5,647		Gillette India Ltd		410
	198,101		Godrej Consumer Products Ltd		1,954
	105,000		Grape King Industrial Co		615
	335,147		Hengan International Group Co Ltd		2,453
	119,198		Henkel KGaA		11,148
	166,202		Henkel KGaA (Preference)		17,382
	149,739	*	Herbalife Nutrition Ltd		6,985
	753,177		Hindustan Lever Ltd		21,166
	29,751	*	Hyundai Bioscience Co Ltd		280
	16,017	e	Inter Parfums S.A.		821
	13,094	e	Inter Parfums, Inc		489
	42,803		Jamieson Wellness, Inc		1,355
	86,557		Jyothy Laboratories Ltd		173
	654,484		Kao Corp		49,133
	523,784		Kimberly-Clark Corp		77,342
	1,420,916		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		2,256
	686,775	e	Kitanotatsujin Corp		3,561

86

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	3,860		Kobayashi Pharmaceutical Co Ltd	$	373
	6,610		Kolmar BNH Co Ltd		345
	12,550		Korea Kolmar Co Ltd		493
	6,200		Korea Kolmar Holdings Co Ltd		141
	16,040		Kose Corp		1,964
	9,501		LG Household & Health Care Ltd		11,725
	1,089		LG Household & Health Care Ltd (Preference)		658
	12,678	*,e	Lifevantage Corp		153
	171,850		Lion Corp		3,528
	350,699		L’Oreal S.A.		114,128
	40,572		Mandom Corp		683
	250,812		Marico Ltd		1,235
	28,814		Medifast, Inc		4,738
	29,498		Milbon Co Ltd		1,566
	709,544		Natura & Co Holding S.A.		6,460
	6,509	*,e	Nature’s Sunshine Products, Inc		75
	16,400	e	Noevir Holdings Co Ltd		768
	73,528	e	Nu Skin Enterprises, Inc (Class A)		3,683
	8,519	e	Oil-Dri Corp of America		305
	94,188	e	Ontex Group NV		1,228
	42,011		Pacific Corp		1,751
	82,761		Pigeon Corp		3,698
	17,455		Pola Orbis Holdings, Inc		329
	5,259,482		Procter & Gamble Co		731,015
	7,600		Proya Cosmetics Co Ltd		161
	4,837,504		PT Industri Jamu Dan Farmasi Sido Muncul Tbk		243
	7,276,845		PT Unilever Indonesia Tbk		3,971
	242,364	e	PZ Cussons plc		735
	1,054,934		Reckitt Benckiser Group plc		102,862
	7,107	*,e	Revlon, Inc (Class A)		45
	70,901		Reynolds Consumer Products Inc		2,171
	104,845		Rohto Pharmaceutical Co Ltd		3,447
	29,398		Sarantis S.A.		294
	19,400		Shanghai Jahwa United Co Ltd		108
	430,177		Shiseido Co Ltd		24,903
	79,213		Spectrum Brands Holdings, Inc		4,528
	14,200		ST Corp		306
	360,128		TCI Co Ltd		3,364
	615,121		Uni-Charm Corp		27,510
	1,803,103		Unilever NV		109,498
	1,429,024		Unilever plc		88,104
	26,659	*	USANA Health Sciences, Inc		1,963
	92,299	*,e	Veru, Inc		242
	351,000		Vinda International Holdings Ltd		1,156
	11,189		WD-40 Co		2,118
	32,800	e	YA-MAN Ltd		490
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		1,945,528
INSURANCE - 3.0%
	25,402		Admiral Group plc		857
	237,827		Aegon NV		616
	1,020,404		Aflac, Inc		37,092
	263,090	e	Ageas		10,765
	13,949,464		AIA Group Ltd		138,659

87

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	15,709	*	Al Rajhi Co for Co-operative Insurance	$	338
	28,846		Alleghany Corp		15,013
	502,150		Allianz AG.		96,377
	916,036		Allstate Corp		86,236
	149,199		Alm Brand AS		1,706
	74,482	*	AMBAC Financial Group, Inc		951
	144,196		American Equity Investment Life Holding Co		3,171
	148,024		American Financial Group, Inc		9,915
	2,761,006		American International Group, Inc		76,010
	11,027		American National Group, Inc		745
	29,633		Amerisafe, Inc		1,700
	81,600		Anicom Holdings, Inc		830
	350,009		Aon plc		72,207
	561,459	*	Arch Capital Group Ltd		16,423
	52,508	*	Argo Group International Holdings Ltd		1,808
	271,068		Arthur J. Gallagher & Co		28,619
	156,521		ASR Nederland NV		5,264
	1,163,197		Assicurazioni Generali S.p.A.		16,395
	297,920		Assurant, Inc		36,141
	185,398		Assured Guaranty Ltd		3,982
	322,033	*	Athene Holding Ltd		10,975
	83,182		AUB Group Ltd		989
	4,834,741		Aviva plc		17,887
	2,020,353		AXA S.A.		37,393
	168,880		Axis Capital Holdings Ltd		7,437
	35,295		Bajaj Finserv Ltd		2,815
	45,173		Baloise Holding AG.		6,651
	520,700		Bangkok Life Assurance PCL		291
	654,174		BB Seguridade Participacoes S.A.		2,827
	1,722,587		Beazley plc		6,820
	3,516,766	*	Berkshire Hathaway, Inc (Class B)		748,860
	133,622	*	Brighthouse Financial, Inc		3,596
	353,768		Brown & Brown, Inc		16,015
	138,987	*	BRP Group, Inc		3,462
	56,381		Bupa Arabia for Cooperative Insurance Co		1,848
	7,668,214		Cathay Financial Holding Co Ltd		10,266
	12,286,677		China Development Financial Holding Corp		3,634
	1,577,286		China Insurance International Holdings Co Ltd		2,418
	7,224,790		China Life Insurance Co Ltd		16,378
	159,500		China Life Insurance Co Ltd (Class A)		1,047
	2,464,179		China Life Insurance Co Ltd (Taiwan)		1,701
	370,300		China Pacific Insurance Group Co Ltd		1,706
	2,716,239		China Pacific Insurance Group Co Ltd (Hong Kong)		7,758
	6,886,000		China Reinsurance Group Corp		635
	1,393,855		Chubb Ltd		161,854
	215,531		Cincinnati Financial Corp		16,805
	85,851	*,e	Citizens, Inc (Class A)		476
	60,790	*	Clal Insurance		573
	38,742		CNA Financial Corp		1,162
	310,194		CNP Assurances		3,890
	59,583	*	Co for Cooperative Insurance		1,385
	225,289		Conseco, Inc		3,614
	3,630,000	*,†,e	Convoy Financial Holdings Ltd		5
	147,517		Corp Mapfre S.A.		231

88

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	25,174	e	Crawford & Co	$	165
	750,451		Dai-ichi Mutual Life Insurance Co		10,589
	181,361		Direct Line Insurance Group plc		633
	194,560		Discovery Holdings Ltd		1,477
	22,680	e	Donegal Group, Inc (Class A)		319
	46,569		Dongbu Insurance Co Ltd		1,800
	26,533	*	eHealth, Inc		2,096
	47,712		Employers Holdings, Inc		1,443
	19,848	*	Enstar Group Ltd		3,205
	37,646		Erie Indemnity Co (Class A)		7,916
	155,063		Everest Re Group Ltd		30,631
	30,941		Fairfax Financial Holdings Ltd		9,111
	41,526	e	Fanhua, Inc (ADR)		696
	16,841		FBL Financial Group, Inc (Class A)		812
	8,581		FedNat Holding Co		54
	388,775		Fidelity National Financial Inc		12,173
	193,218		First American Financial Corp		9,837
	6,439,977		Fubon Financial Holding Co Ltd		9,371
	847,555	*	Genworth Financial, Inc (Class A)		2,839
	170,504		Gjensidige Forsikring BA		3,460
	153,820		Globe Life, Inc		12,290
	56,784	*	GoHealth, Inc		740
	23,216		Goosehead Insurance, Inc		2,010
	263,481	e	Great-West Lifeco, Inc		5,149
	38,186	*,e	Greenlight Capital Re Ltd (Class A)		257
	63,430		Grupo Catalana Occidente S.A.		1,591
	8,014		Hannover Rueckversicherung AG.		1,241
	56,366		Hanover Insurance Group, Inc		5,252
	127,127		Harel Insurance Investments & Finances Ltd		795
	1,225,403		Hartford Financial Services Group, Inc		45,168
	411,256	g	Hastings Group Holdings Ltd		1,339
	7,498		HCI Group, Inc		370
	670,782	g	HDFC Life Insurance Co Ltd		5,092
	38,660		Helvetia Holding AG.		3,294
	114,697		Heritage Insurance Holdings, Inc		1,161
	384,349		Hiscox Ltd		4,435
	70,336		Horace Mann Educators Corp		2,349
	268,400		Hubei Biocause Pharmaceutical Co Ltd		209
	60,479		Hyundai Marine & Fire Insurance Co Ltd		1,157
	100,433		iA Financial Corp, Inc		3,496
	270,137	g	ICICI Lombard General Insurance Co Ltd		4,758
	310,663	g	ICICI Prudential Life Insurance Co Ltd		1,777
	9,077		IDI Insurance Co Ltd		223
	8,137	e	Independence Holding Co		307
	2,412,679		Insurance Australia Group Ltd		7,635
	214,889		Intact Financial Corp		23,010
	1,968	e	Investors Title Co		256
	1,052,520		IRB Brasil Resseguros S		1,404
	27,999		James River Group Holdings Ltd		1,247
	1,412,560		Japan Post Holdings Co Ltd		9,632
	155,300		Japan Post Insurance Co Ltd		2,445
	1,168,291	*,e	Just Retirement Group plc		678
	116,078	e	Kemper Corp		7,757
	50,919		Kinsale Capital Group, Inc		9,684

89

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	288,958		Korea Life Insurance Co Ltd	$	377
	71,277		Korean Reinsurance Co		454
	269,759		Lancashire Holdings Ltd		2,411
	5,853,996		Legal & General Group plc		14,281
	17,364	*,e	Lemonade, Inc		863
	122,669		Liberty Holdings Ltd		415
	279,520		Lincoln National Corp		8,757
	338,516	e	Loews Corp		11,763
	2,285,817		Manulife Financial Corp (Toronto)		31,793
	19,291	*	Markel Corp		18,784
	1,755,891		Marsh & McLennan Cos, Inc		201,401
	151,216	*	Max India Ltd		1,258
	104,323	*	MBIA, Inc		632
	2,566,123		Medibank Pvt Ltd		4,630
	28,584		Menorah Mivtachim Holdings Ltd		347
	567,918		Mercuries & Associates Holding Ltd		426
	1,093,198	*	Mercuries Life Insurance Co Lt		343
	60,511		Mercury General Corp		2,503
	47,530		Meritz Fire & Marine Insurance Co Ltd		522
	2,192,698		Metlife, Inc		81,503
	417,127		Migdal Insurance Holdings Ltd		271
	62,474		Mirae Asset Life Insurance Co Ltd		205
	309,684		Mitsui Sumitomo Insurance Group Holdings, Inc		8,344
	394,801		Momentum Metropolitan Holdings		365
	77,036		Muenchener Rueckver AG.		19,584
	385,699		National General Holdings Corp		13,017
	3,963	e	National Western Life Group, Inc		724
	127,700		New China Life Insurance Co Ltd		1,170
	802,582		New China Life insurance Co Ltd (Hong Kong)		3,017
	8,858	*	NI Holdings, Inc		150
	669,219		nib holdings Ltd		1,961
	314,182		NKSJ Holdings, Inc		10,847
	283,697		NN Group NV		10,634
	2,292,769		Old Mutual Ltd		1,413
	403,737		Old Republic International Corp		5,951
	33,817	*	Palomar Holdings, Inc		3,525
	8,080,888		People’s Insurance Co Group of China Ltd		2,405
	396,700		People’s Insurance Co Group of China Ltd (Class A)		396
	601,494		Phoenix Group Holdings plc		5,349
	164,689		Phoenix Holdings Ltd		764
	6,808,318		PICC Property & Casualty Co Ltd		4,783
	11,611,246		Ping An Insurance Group Co of China Ltd		120,535
	2,052,737		Ping An Insurance Group Co of China Ltd (Class A)		23,082
	83,174		Porto Seguro S.A.		715
	487,095	g	Poste Italiane S.p.A		4,317
	818,830		Power Corp Of Canada		16,044
	302,149		Powszechny Zaklad Ubezpieczen S.A.		1,939
	59,288		Primerica, Inc		6,708
	393,138		Principal Financial Group		15,832
	86,046		ProAssurance Corp		1,346
	1,032,882		Progressive Corp		97,783
	25,851	*,e	ProSight Global, Inc		293
	8,214		Protective Insurance Corp		108
	82,716	*,e	Protector Forsikring ASA		405

90

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	997,344		Prudential Financial, Inc	$	63,351
	3,461,106		Prudential plc		49,661
	11,021,200	*	PT Panin Life Tbk		136
	1,556,700		Qatar Insurance Co SAQ		979
	1,502,638		QBE Insurance Group Ltd		9,346
	643,394	e	Qualitas Controladora SAB de C.V.		2,426
	342,536		Rand Merchant Investment Holdings Ltd		594
	96,655	e	Reinsurance Group of America, Inc (Class A)		9,201
	102,930		RenaissanceRe Holdings Ltd		17,471
	34,492		RLI Corp		2,888
	958,454		RSA Insurance Group plc		5,596
	281,224	e,g	Sabre Insurance Group plc		926
	22,602		Safety Insurance Group, Inc		1,562
	1,270,118	e	Saga plc		204
	387,517		Sampo Oyj (A Shares)		15,347
	29,797		Samsung Fire & Marine Insurance Co Ltd		4,642
	67,534		Samsung Life Insurance Co Ltd		3,524
	1,764,993		Sanlam Ltd		5,440
	377,988	g	SBI Life Insurance Co Ltd		4,160
	21,074		SCOR SE		587
	157,524		Selective Insurance Group, Inc		8,111
	37,820	*,e	Selectquote, Inc		766
	10,829,474		Shin Kong Financial Holding Co Ltd		3,026
	192,564		Shinkong Insurance Co Ltd		233
	168,854	e	Societa Cattolica di Assicurazioni SCRL		899
	28,393	e	State Auto Financial Corp		391
	963,312		Steadfast Group Ltd		2,240
	39,852		Stewart Information Services Corp		1,743
	520,157		Storebrand ASA		2,740
	267,294		Sul America S.A.		1,886
	663,553		Sun Life Financial, Inc		27,039
	1,299,579		Suncorp-Metway Ltd		7,933
	25,608		Swiss Life Holding		9,690
	42,172		Swiss Re Ltd		3,128
	228,100		Syarikat Takaful Malaysia BHD		270
	1,047,270		T&D Holdings, Inc		10,324
	576,708	*,e	Third Point Reinsurance Ltd		4,008
	68,717		TI Financial Holdings Ltd		369
	25,146		Tiptree Inc		124
	1,431,535		Tokio Marine Holdings, Inc		62,636
	38,986		Tong Yang Life Insurance		102
	66,201		Topdanmark AS		3,204
	111,024		TQM Corp PCL		452
	361,686		Travelers Cos, Inc		39,131
	14,590	*	Trean Insurance Group, Inc		222
	77,697	*,e	Trupanion, Inc		6,130
	15,469		Tryg A.S.		487
	487,346		Unipol Gruppo Finanziario S.p.A		2,130
	140,287		Uniqa Versicherungen AG.		849
	36,718		United Fire Group Inc		746
	59,845		United Insurance Holdings Corp		363
	53,576		Universal Insurance Holdings, Inc		741
	291,424		Unum Group		4,905
	1,606	e	Vericity, Inc		16

91

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	252,446		W.R. Berkley Corp	$	15,437
	32,007	*	Watford Holdings Ltd		734
	7,172		White Mountains Insurance Group Ltd		5,587
	76,928	e	Wiener Staedtische Allgemeine Versicherung AG.		1,712
	189,320		Willis Towers Watson plc		39,534
	71,883		Wiz Solucoes e Corretagem de Seguros S.A.		118
	24,836		Wuestenrot & Wuerttembergische AG.		416
	370,900	*,e,g	ZhongAn Online P&C Insurance Co Ltd		1,859
	164,074		Zurich Insurance Group AG		57,215
			TOTAL INSURANCE		3,337,191
MATERIALS - 4.3%
	38,442		Aarti Industries		529
	178,356		Acerinox S.A.		1,462
	13,352		Achilles Corp		224
	94,738		ADEKA Corp		1,364
	440,403		Adelaide Brighton Ltd		904
	18,066	e	Advanced Emissions Solutions, Inc		73
	33,475	e	Advanced Metallurgical Group NV		552
	102,463		Advanced Petrochemical Co		1,618
	159,126		Advansa Sasa Polyester Sanayi AS		342
	46,624	*	AdvanSix, Inc		601
	102,512		Aeci Ltd		470
	109,763	e	African Rainbow Minerals Ltd		1,267
	253,158		Agnico-Eagle Mines Ltd		20,170
	54,366	*,e	AgroFresh Solutions, Inc		132
	11,200		Aichi Steel Corp		278
	509,586		Air Liquide		80,774
	214,811		Air Products & Chemicals, Inc		63,984
	145,449		Air Water, Inc		1,967
	4,846		AK Holdings, Inc		73
	7,734		Akzo Nobel India Ltd		228
	79,651		Akzo Nobel NV		8,050
	427,464	e	Alamos Gold, Inc		3,766
	351,892	e	Albemarle Corp		31,417
	311,233	*	Alcoa Corp		3,620
	641,978	*	Allegheny Technologies, Inc		5,598
	400,726	*,e	Alpek SAB de C.V.		279
	43,865	e	Altius Minerals Corp		319
	80,188		Altri SGPS S.A.		352
	2,723,718		Alumina Ltd		2,714
	4,888,145	*	Aluminum Corp of China Ltd		1,008
	851,900	*	Aluminum Corp of China Ltd (Class A)		365
	659,414		Ambuja Cements Ltd		1,941
	2,263,619		Amcor plc		25,013
	50,292	e	American Vanguard Corp		661
	172,583	*,e	Amyris, Inc		504
	181,872		Anadolu Cam Sanayii AS		148
	663,840		Angang Steel Co Ltd		253
	53,320		Anglo American Platinum Ltd		3,692
	1,270,700		Anglo American plc (London)		30,743
	397,822		AngloGold Ashanti Ltd		10,407
	889,632	e	AngloGold Ashanti Ltd (ADR)		23,469
	1,321,469		Anhui Conch Cement Co Ltd		9,153

92

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	246,275		Anhui Conch Cement Co Ltd (Class A)	$	2,010
	368,589		Antofagasta plc		4,864
	55,229		APERAM		1,554
	5,991		APL Apollo Tubes Ltd		237
	18,214		Aptargroup, Inc		2,062
	123,241		Arabian Cement Co		1,068
	684,997		ArcelorMittal		9,113
	163,006	*,e	Arconic Corp		3,105
	29,567		Ardagh Group S.A.		415
	9,179		Arkema		973
	97,117		Asahi Holdings, Inc		3,153
	1,277,693		Asahi Kasei Corp		11,146
	17,288		Ashland Global Holdings, Inc		1,226
	1,021,625		Asia Cement China Holdings Corp		905
	1,105,164		Asia Cement Corp		1,592
	285,188		Asian Paints Ltd		7,684
	362,500		ATA IMS BHD		153
	13,936		Atul Ltd		1,158
	119,443	*,e	Aurora Cannabis, Inc		556
	37,590		Aurubis AG.		2,557
	326,067		Avery Dennison Corp		41,684
	270,585		Avient Corp		7,160
	2,719,767	*	Axalta Coating Systems Ltd		60,297
	968,314		B2Gold Corp		6,305
	112,626		Balchem Corp		10,996
	482,030		Ball Corp		40,066
	1,510,100		Baoshan Iron & Steel Co Ltd		1,110
	2,383,272		Barrick Gold Corp (Canada)		66,940
	8,699		BASF India Ltd		179
	1,183,777		BASF SE		72,087
	10,343		Bayer CropScience Ltd		826
	346,000		BBMG Corp		157
	76,600		Beijing Oriental Yuhong Waterproof Technology Co Ltd		610
	39,022		Bekaert S.A.		813
	111,137		Berger Paints India Ltd		881
	1,674,362	*	Berry Global Group, Inc		80,905
	3,502,729		BHP Billiton Ltd		90,488
	2,309,988		BHP Group plc		49,282
	197,208		Billerud AB		3,300
	4,000	*,†,e	Bio On S.p.A.		0	^
	14,398		Birla Corp Ltd		130
	575,847		BlueScope Steel Ltd		5,306
	125,935		Boise Cascade Co		5,027
	255,152		Boliden AB		7,571
	1,387,706		Boral Ltd		4,586
	106,900		Borregaard ASA		1,643
	366,948		Bradespar S.A.		2,933
	187,375		Braskem S.A.		694
	84,519		Brickworks Ltd		1,182
	186,767	e	Buzzi Unicem S.p.A.		4,339
	71,018		Buzzi Unicem S.p.A. RSP		932
	15,826		Cabot Corp		570
	537,000		Cahya Mata Sarawak BHD		160

93

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	43,107	e	Caledonia Mining Corp plc	$	732
	68,202	*	Canfor Corp		768
	32,233		Canfor Pulp Products, Inc		121
	63,028		CAP S.A.		531
	75,445		Carpenter Technology Corp		1,370
	165,424		Cascades, Inc		2,092
	139,771		CCL Industries		5,389
	383,026		Celanese Corp (Series A)		41,156
	54,245		Cementir Holding NV		375
	446,514		Cementos Argos S.A.		540
	14,256,638		Cemex S.A. de C.V.		5,403
	1,331,192		Centamin plc		3,475
	241,074		Centerra Gold, Inc		2,804
	163,019		Central Asia Metals plc		339
	87,209	*	Century Aluminum Co		621
	117,000		Century Iron & Steel Industrial Co Ltd		520
	24,572		Century Textile & Industries Ltd		111
	151,223		CF Industries Holdings, Inc		4,644
	97,872		Chambal Fertilizers & Chemicals Ltd		210
	394,902	*	Champion Iron Ltd		833
	5,561		Chase Corp		531
	45,376		Chemours Co		949
	1,612,006		Cheng Loong Corp		1,763
	374,000		Chia Hsin Cement Corp		204
	8,266,695		China BlueChemical Ltd		1,203
	296,127		China General Plastics Corp		200
	86,600		China Hi-ment Corp		133
	2,023,500		China Hongqiao Group Ltd		1,268
	212,600		China Jushi Co Ltd		453
	1,063,232		China Manmade Fibers Corp		280
	228,112		China Metal Products		252
	992,000	*,g	China Metal Resources Utilization Ltd		30
	3,447,000		China Molybdenum Co Ltd		1,231
	724,200		China Molybdenum Co Ltd (Class A)		398
	3,515,982		China National Building Material Co Ltd		4,481
	203,000		China Northern Rare Earth Group High-Tech Co Ltd		322
	1,002,000		China Oriental Group Co Ltd		225
	3,074,359		China Petrochemical Development Corp		894
	1,222,000		China Resources Cement Holdings Ltd		1,680
	143,000		China Steel Chemical Corp		451
	11,424,633		China Steel Corp		8,092
	618,912		China Synthetic Rubber Corp		421
	318,000		China XLX Fertiliser Ltd		97
	1,425,200	e	China Zhongwang Holdings Ltd		242
	156,354		Christian Hansen Holding		17,356
	46,678		Chugoku Marine Paints Ltd		442
	3,884		Chunbo Co Ltd		563
	777,000		Chung Hung Steel Corp		252
	341,540		Chung Hwa Pulp Corp		104
	316,655		Cia de Minas Buenaventura S.A. (ADR) (Series B)		3,870
	630,475		Cia Siderurgica Nacional S.A.		1,852
	25,126	*	Ciech S.A.		178
	318,023		City Cement Co		1,687
	26,471		Clariant AG.		522

94

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	31,399	*	Clearwater Paper Corp	$	1,191
	641,421	e	Cleveland-Cliffs, Inc		4,118
	30,622	*	CMC Materials, Inc		4,373
	525,384	*	Coeur Mining, Inc		3,877
	247,603	e	Commercial Metals Co		4,947
	86,132	*,†	Companhia Vale do Rio Doce		0
	27,360		Compass Minerals International, Inc		1,624
	67,019		Corbion NV		3,082
	67,582		Coromandel International Ltd		709
	984,803	g	Coronado Global Resources, Inc (ADR)		685
	1,378,043		Corteva, Inc		39,701
	45,234		Corticeira Amorim SGPS S.A.		558
	460,895	g	Covestro AG.		22,856
	465,000		CPMC Holdings Ltd		205
	2,123,887		CRH plc		77,015
	20,056		Croda International plc		1,618
	1,357,876	*	Crown Holdings, Inc		104,366
	538,157		CSR Ltd		1,659
	1,811,900		D&L Industries Inc		207
	187,408		Daicel Chemical Industries Ltd		1,351
	28,031	e	Daido Steel Co Ltd		873
	12,200		Daiken Corp		214
	12,571		Dainichiseika Color & Chemicals Manufacturing Co Ltd		270
	85,001		Dainippon Ink and Chemicals, Inc		2,125
	137,599	e	Daio Paper Corp		1,963
	13,300		Daiso Co Ltd		324
	31,545		Deepak Nitrite Ltd		352
	87,449		Denki Kagaku Kogyo KK		2,663
	8,300	*	DKS Co Ltd		338
	160,813	e	Domtar Corp		4,225
	32,100		Dongjin Semichem Co Ltd		810
	51,256	*	Dongkuk Steel Mill Co Ltd		278
	4,648		Dongwon Systems Corp		93
	1,036,000		Dongyue Group		400
	4,051,715	n	Dow, Inc		190,633
	89,479		Dowa Holdings Co Ltd		2,626
	394,380	e	DRDGOLD Ltd		465
	1,545,816		DS Smith plc		5,873
	109,733		DSM NV		18,066
	9,716	*	Duk San Neolux Co Ltd		262
	158,592		Dundee Precious Metals, Inc		1,136
	4,325,565	n	DuPont de Nemours, Inc		239,982
	6,353		Eagle Materials, Inc		548
	828,500		Eastern Polymer Group PCL		125
	74,329		Eastern Province Cement Co		698
	38,021		Eastman Chemical Co		2,970
	256,394		Ecolab, Inc		51,238
	17,945		Ecopro Co Ltd		685
	50,448		EID Parry India Ltd		194
	182,973	*	Eldorado Gold Corp		1,931
	215,102	*	Element Solutions, Inc		2,261
	653,535		Elementis plc		641
	295,007	g	Elkem ASA		629

95

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,068,711		Empresas CMPC S.A.	$	2,246
	1,088	e	EMS-Chemie Holding AG.		978
	165,849	e	Ence Energia y Celulosa S.A.		425
	182,910	*	Endeavour Mining Corp		4,554
	156,019	*,e	Endeavour Silver Corp		548
	533,421		Engro Chemical Pakistan Ltd		969
	462,359		Engro Fertilizers Ltd		170
	213,059	*	Equinox Gold Corp		2,488
	10,509	e	Eramet		265
	739,904		Eregli Demir ve Celik Fabrikalari TAS		907
	70,589	*	ERO Copper Corp		1,029
	298,769		Essentra plc		981
	828,574		Eternal Chemical Co Ltd		941
	45,643		Eugene Corp		160
	337,128		Everlight Chemical Industrial Corp		187
	1,507,463		Evolution Mining Ltd		6,297
	312,860		Evonik Industries AG.		8,093
	67,771		Evraz plc		302
	998,311		Fauji Fertilizer Co Ltd		650
	431,050		Feng Hsin Iron & Steel Co		834
	38,498		Ferbasa-Ferro Ligas DA Bahia		120
	331,044		Ferrexpo plc		754
	144,317	*	Ferro Corp		1,790
	202,348	*,†	Ferroglobe plc		0
	26,144		Finolex Industries Ltd		178
	206,535	*,e	First Majestic Silver Corp		1,964
	1,349,249		First Quantum Minerals Ltd		12,028
	923,910		Fletcher Building Ltd		2,364
	176,556		FMC Corp		18,699
	46,092		Foosung Co Ltd		369
	3,433,755		Formosa Chemicals & Fibre Corp		8,086
	3,716,712		Formosa Plastics Corp		10,154
	262,121	g	Forterra plc		599
	17,246	*,e	Forterra, Inc		204
	2,631,183		Fortescue Metals Group Ltd		30,911
	200,224	*,e	Fortuna Silver Mines, Inc		1,274
	54,120		FP Corp		2,280
	181,140		Franco-Nevada Corp		25,312
	3,109,059		Freeport-McMoRan, Inc (Class B)		48,626
	65,056		Fuchs Petrolub AG. (Preference)		3,308
	1,379,483		Fufeng Group Ltd		438
	47,377		Fuji Seal International, Inc		911
	19,275		Fujimi, Inc		672
	17,330		Fujimori Kogyo Co Ltd		716
	33,443		Furukawa-Sky Aluminum Corp		552
	4,026,296		Fushan International Energy Group Ltd		866
	18,700		Fuso Chemical Co Ltd		662
	44,212	e	FutureFuel Corp		503
	8,082		Galaxy Surfactants Ltd		208
	66,913	*	GCP Applied Technologies, Inc		1,402
	283,900		GEM Co Ltd		198
	1,012,412		Gerdau S.A. (Preference)		3,750
	12,665		Givaudan S.A.		54,685
	9,546,276		Glencore Xstrata plc		19,791

96

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	28,336	e	Godo Steel Ltd	$	545
	843,885		Gold Fields Ltd		10,324
	170,270	*	Gold Resource Corp		581
	841,121	*	Gold Road Resources Ltd		886
	1,000,787		Goldsun Development & Construction Co Ltd		817
	60,029		Gran Colombia Gold Corp		283
	769,000	*	Grand Pacific Petrochemical		498
	81,349		Granges AB		726
	582,994		Graphic Packaging Holding Co		8,214
	145,526		Grasim Industries Ltd		1,473
	605,755	*,†	Great Basin Gold Ltd		5
	40,261		Greif, Inc (Class A)		1,458
	12,009	e	Greif, Inc (Class B)		474
	8,450		Groupe Guillin		191
	274,286		Grupo Argos S.A.		831
	167,293	e	Grupo Cementos de Chihuahua SAB de C.V.		780
	2,920,743		Grupo Mexico S.A. de C.V. (Series B)		7,430
	158,000		Guangdong HEC Technology Holding Co Ltd		144
	31,900		Guangdong Hongda Blasting Co Ltd		237
	10,456		Gulf Oil Lubricants India Ltd		93
	943		Gurit Holding AG.		2,008
	53,249		H.B. Fuller Co		2,438
	1,844		Hanil Cement Co Ltd		129
	8,705		Hansol Chemical Co Ltd		1,115
	50,454		Hansol Paper Co Ltd		601
	96,291		Hanwha Chemical Corp		3,159
	483,966	*	Harmony Gold Mining Co Ltd		2,562
	14,310		Hawkins, Inc		660
	22,634		Haynes International, Inc		387
	1,157,947		Hecla Mining Co		5,882
	1,642,716		HeidelbergCement AG.		100,380
	48,638		HeidelbergCement India Ltd		123
	312,920		Hengli Petrochemical Co Ltd		857
	142,320		Hengyi Petrochemical Co Ltd		218
	841,800		Hesteel Co Ltd		263
	318,724		Hexpol AB		2,851
	89,368		Hill & Smith Holdings plc		1,373
	556,811		Hindalco Industries Ltd		1,330
	408,090		Hitachi Metals Ltd		6,293
	291,451	e	Hochschild Mining plc		822
	6,600		Hodogaya Chemical Co Ltd		303
	128,929		Hokuetsu Paper Mills Ltd		443
	81,489		Holcim Ltd		3,709
	110,739	e	Holmen AB		4,109
	16,344		Honam Petrochemical Corp		2,740
	219,000		Hsin Kuang Steel Co Ltd		235
	708,000	e	Huabao International Holdings Ltd		643
	69,200		Huaxin Cement Co Ltd		257
	16,710		Huchems Fine Chemical Corp		294
	581,548	e	HudBay Minerals, Inc		2,459
	110,431		Huhtamaki Oyj		5,442
	278,800		Hunan Valin Steel Co Ltd		207
	414,793		Huntsman Corp		9,213
	2,462	*	Hyosung Advanced Materials Corp		293

97

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,750		Hyosung Chemical Corp	$	185
	8,626		Hyosung Corp		537
	83,245		Hyundai Steel Co		1,749
	793,907	*	IAMGOLD Corp		3,047
	439,038	g	Ibstock plc		882
	469,712		Iluka Resources Ltd		3,075
	59,107		IMCD Group NV		7,030
	35,834		Imerys S.A.		1,332
	773,393	e	Impala Platinum Holdings Ltd		6,720
	2,127,341		Incitec Pivot Ltd		3,117
	1,128,480		Independence Group NL		3,401
	159,847		India Cements Ltd		254
	1,005,578		Indorama Ventures PCL (Foreign)		674
	126,576		Industrias Penoles S.A. de C.V.		2,045
	127,063	*	Ingevity Corp		6,282
	3,511,400		Inner Mongolia BaoTou Steel Union Co Ltd		594
	453,003		Inner Mongolia Eerduosi Resourses Co Ltd		391
	510,800		Inner Mongolia Junzheng Energy & Chemical Industry Group Co Ltd		545
	50,337		Innospec, Inc		3,187
	22,233	*	Inox Fluorochemicals Ltd		148
	73,304	*	Interfor Corp		819
	116,668	e	International Flavors & Fragrances, Inc		14,286
	1		International Flavors & Fragrances, Inc (Tel Aviv)		0	^
	580,403	e	International Paper Co		23,530
	114,794	e	Intertape Polymer Group, Inc		1,279
	70,522	*,e	Intrepid Potash, Inc		595
	35,917		Ishihara Sangyo Kaisha Ltd		247
	96,761		Israel Chemicals Ltd		342
	4,711	*	Israel Corp Ltd		504
	832,474	*	Ivanhoe Mines Ltd		3,026
	516,909		James Hardie Industries NV		12,391
	48,838		Jastrzebska Spolka Weglowa S.A.		326
	22,100		JCU Corp		731
	440,806	*	JFE Holdings, Inc		3,086
	124,192		Jiangsu Shagang Co Ltd		222
	19,784		Jiangsu Yangnong Chemical Co Ltd		255
	1,249,545		Jiangxi Copper Co Ltd		1,405
	161,200		Jiangxi Copper Co Ltd (Class A)		337
	43,100		Jiangxi Ganfeng Lithium Co Ltd		346
	2,730,000		Jinchuan Group International Resources Co Ltd		274
	1,112,591	*	Jindal Steel & Power Ltd		2,840
	229,049		Jinduicheng Molybdenum Co Ltd		200
	17,483		JK Cement Ltd		358
	25,723		Johnson Matthey plc		782
	14,007		JSP Corp		215
	164,278	e	JSR Corp		3,905
	408,398		JSW Steel Ltd		1,545
	1,447,059		Jupiter Mines Ltd		290
	210,330	e	K&S AG.		1,448
	24,802		Kaiser Aluminum Corp		1,329
	53,415		Kaneka Corp		1,496
	155,980	e	Kansai Paint Co Ltd		3,877
	117,100	e	Kanto Denka Kogyo Co Ltd		810

98

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	730,178		Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS (Class D)	$	319
	662,232		KAZ Minerals plc		4,478
	113,697		Kemira Oyj		1,448
	66,169	*	KGHM Polska Miedz S.A.		2,025
	35,300		KH Neochem Co Ltd		829
	1,199,061	*	Kinross Gold Corp		10,581
	282,557		Kirkland Lake Gold Ltd		13,793
	6,462		KISWIRE Ltd		73
	647,600		Klabin S.A.		2,745
	31,400		Koatsu Gas Kogyo Co Ltd		251
	337,600	*	Kobe Steel Ltd		1,289
	15,624		Kolon Industries, Inc		503
	32,058		Konishi Co Ltd		470
	25,273	*	Koppers Holdings, Inc		528
	9,241		Korea Kumho Petrochemical		867
	2,949		Korea Petrochemical Ind Co Ltd		419
	7,747		Korea Zinc Co Ltd		2,500
	34,830	*	Koza Altin Isletmeleri AS		352
	849,846	*	Koza Anadolu Metal Madencilik Isletmeleri AS		1,393
	50,909	*	Kraton Corp		907
	40,037		Kronos Worldwide, Inc		515
	5,100		Krosaki Harima Corp		145
	80,725	*	Kuk-il Paper Manufacturing Co Ltd		384
	63,170		Kumba Iron Ore Ltd		1,866
	85,648		Kumiai Chemical Industry Co Ltd		869
	304,544		Kuraray Co Ltd		2,955
	17,400		Kureha CORP		755
	22,716		Kyoei Steel Ltd		292
	189,244		Labrador Iron Ore Royalty Corp		3,651
	984,109		Lanxess AG.		56,307
	338,255	*	Largo Resources Ltd		279
	1,505,000		Lee & Man Paper Manufacturing Ltd		1,095
	13,432	*	LEMON Co Ltd		168
	14,984	e	Lenzing AG.		824
	64,180		LG Chem Ltd		35,823
	7,426		LG Chem Ltd (Preference)		2,028
	20,313		Linde India Ltd		215
	1,335,819		Linde plc		318,099
	341,383		Linde plc (Xetra)		80,713
	47,400		Lintec Corp		1,104
	53,891	*,e	Lithium Americas Corp		613
	239,027	*	Livent Corp		2,144
	17,287		Lock & Lock Co Ltd		160
	54,883	*,e	Loma Negra Cia Industrial Argentina S.A. (ADR)		237
	107,700		Lomon Billions Group Co Ltd		370
	583,704		Long Chen Paper Co Ltd		340
	398,800	g	Lotte Chemical Titan Holding BHD		206
	383,465		Louisiana-Pacific Corp		11,316
	121,615		Lucky Cement Ltd		475
	73,643	*	Lundin Gold, Inc		669
	614,713		Lundin Mining Corp		3,430
	1,005,680	*	Lynas Corp Ltd		1,693
	68,718		LyondellBasell Industries NV		4,844

99

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	504,300		Maanshan Iron & Steel Co Ltd (Class A)	$	198
	51,298		Madras Cements Ltd		524
	89,746	*	MAG. Silver Corp		1,459
	44,302	*	Marrone Bio Innovations, Inc		54
	350,525		Marshalls plc		2,948
	8,468		Martin Marietta Materials, Inc		1,993
	45,479		Maruichi Steel Tube Ltd		1,139
	115,995	e	Materion Corp		6,035
	7,981	*	Mayville Engineering Co Inc		73
	158,280	*	Mechel PJSC (ADR)		239
	2,108,001		Mesaieed Petrochemical Holding Co		1,204
	702,144		Metalurgica Gerdau S.A.		1,175
	70,807		Methanex Corp		1,727
	384,295		Mineral Resources Ltd		6,931
	52,430		Minerals Technologies, Inc		2,679
	21,364		Miquel y Costas & Miquel S.A.		308
	44,554	g	Mishra Dhatu Nigam Ltd		119
	1,274,743		Mitsubishi Chemical Holdings Corp		7,358
	136,510		Mitsubishi Gas Chemical Co, Inc		2,540
	89,365		Mitsubishi Materials Corp		1,761
	170,034		Mitsui Chemicals, Inc		4,110
	352,564		Mitsui Mining & Smelting Co Ltd		8,573
	615,935		MMC Norilsk Nickel PJSC (ADR)		14,875
	2,280,000	*,e	MMG Ltd		574
	52,450		MOIL Ltd		100
	480,607		Mondi plc		10,162
	12,981	*,†	Mongolian Metals Corporation		0
	1,603,714		Mosaic Co		29,300
	455,450		Mount Gibson Iron Ltd		238
	199,504	e	M-real Oyj (B Shares)		1,645
	89,920		Myers Industries, Inc		1,190
	89,704		Mytilineos Holdings S.A.		961
	737,527	*	Najran Cement Co		3,492
	20,283		Namhae Chemical Corp		142
	55,877	*	Namsun Aluminum Co Ltd		251
	51,000		Nan Pao Resins Chemical Co Ltd		222
	4,975,936		Nan Ya Plastics Corp		10,286
	254,557		Nantex Industry Co Ltd		440
	393,312		National Aluminium Co Ltd		172
	159,656	*	National Industrialization Co		566
	11,404		Navin Fluorine International Ltd		342
	24,470		Neenah Inc		917
	121,499		Neles Oyj		1,643
	41,317		Neturen Co Ltd		209
	701,912	*	New Gold, Inc		1,197
	1,432,652		Newcrest Mining Ltd		32,487
	2,208		NewMarket Corp		756
	1,913,764		Newmont Goldcorp Corp		121,428
	42,000	e	Nihon Nohyaku Co Ltd		205
	89,781		Nihon Parkerizing Co Ltd		880
	1,633,102		Nine Dragons Paper Holdings Ltd		2,062
	12,500	*	Nippon Fine Chemical Co Ltd		201
	146,066	e	Nippon Kayaku Co Ltd		1,287
	59,803		Nippon Light Metal Holdings Co Ltd		949

100

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	140,952		Nippon Paint Co Ltd	$	14,510
	108,480	e	Nippon Paper Industries Co Ltd		1,347
	29,028		Nippon Shokubai Co Ltd		1,548
	24,684		Nippon Soda Co Ltd		707
	760,949		Nippon Steel Corp		7,184
	15,800		Nippon Valqua Industries Ltd		285
	119,231	e	Nissan Chemical Industries Ltd		6,356
	5,607	e	Nittetsu Mining Co Ltd		248
	215,888		Nitto Denko Corp		14,065
	75,282		NOF Corp		2,967
	53,514	e	Norbord, Inc		1,581
	1,253,878		Norsk Hydro ASA		3,461
	1,426,308	*	Northam Platinum Ltd		14,497
	84,520		Northern Region Cement Co		271
	688,984		Northern Star Resources Ltd		6,827
	299,378	*	Novagold Resources Inc		3,560
	269,647	*,e	Novagold Resources, Inc		3,212
	68,204		Novolipetsk Steel PJSC (GDR)		1,510
	34,681		Novozymes AS		2,180
	429,106		Nucor Corp		19,250
	320,989	*	Nufarm Ltd		892
	1,002,064		Nutrien Ltd (Toronto)		39,291
	680,206		OceanaGold Corp		1,047
	18,173		OCI Co Ltd		881
	117,722	*	OCI NV		1,509
	42,155		Odisha Cement Ltd		447
	20,579	e	Oeneo S.A.		269
	147,929		O-I Glass, Inc		1,567
	692,979		OJI Paper Co Ltd		3,184
	11,000		Okamoto Industries, Inc		430
	37,642		Olin Corp		466
	7,464		Olympic Steel, Inc		85
	999,643	e	Orbia Advance Corp SAB de C.V.		1,751
	449,771		Orica Ltd		5,008
	464,000		Oriental Union Chemical Corp		260
	197,710		Orion Engineered Carbons SA		2,473
	311,920	*,e	Orocobre Ltd		558
	1,069,489		Orora Ltd		1,847
	14,529		Osaka Steel Co Ltd		146
	135,423	e	Osisko Gold Royalties Ltd		1,602
	223,651	*	Osisko Mining, Inc		583
	351,509	e	Outokumpu Oyj		940
	359,766		Oxiana Ltd		3,671
	17,550	e	Pacific Metals Co Ltd		263
	13,400		Pack Corp		395
	31,750		Packages Ltd		96
	201,151		Packaging Corp of America		21,936
	233,219	e	Pact Group Holdings Ltd		384
	6,533,942	*,e	Pactiv Evergreen, Inc		82,981
	195,529		Pan American Silver Corp (Toronto)		6,286
	770,500	*	Pangang Group Vanadium Titanium & Resources Co Ltd		234
	2,004,709		Perenti Global Ltd		1,673
	2,172,874	*	Perseus Mining Ltd		2,156

101

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	1,932,405	*	Peter Hambro Mining plc	$	820
	969,286	*	Petkim Petrokimya Holding		527
	2,291,416		Petronas Chemicals Group BHD		3,105
	245,537	e	PH Glatfelter Co		3,381
	79,953		PhosAgro PJSC (GDR)		963
	52,757		PI Industries Ltd		1,411
	60,876		Pidilite Industries Ltd		1,185
	1,881,574	*	Pilbara Minerals Ltd		448
	120,976		Polymetal International plc (ADR)		2,636
	94,640	*	Polyus PJSC (GDR)		9,975
	66,796		Polyus PJSC (GDR)		7,037
	16,711		Poongsan Corp		339
	255,224		Portucel Empresa Produtora de Pasta e Papel S.A.		637
	71,649		POSCO		11,995
	19,989		POSCO Refractories & Environment Co Ltd		1,429
	1,166,031		PPG Industries, Inc		142,349
	75,827	*	PQ Group Holdings, Inc		778
	221,459	*	Premier Gold Mines Ltd		426
	1,296,100		Press Metal BHD		1,607
	202,960	*	Pretium Resources, Inc		2,597
	7,418,004		PT Aneka Tambang Tbk		354
	23,999,492		PT Barito Pacific Tbk		1,283
	2,403,487		PT Indah Kiat Pulp and Paper Corp Tbk		1,459
	1,442,619		PT Indocement Tunggal Prakarsa Tbk		1,011
	990,200		PT Pabrik Kertas Tjiwi Kimia Tbk		405
	8,218,300	*,†	PT Sekawan Intipratama Tbk		0	^
	2,636,938		PT Semen Gresik Persero Tbk		1,631
	8,150,300		PT Waskita Beton Precast Tbk		75
	2,144,848		PTT Global Chemical PCL (Foreign)		2,677
	80,412		Qassim Cement Co		1,593
	2,647,075		Qatar Aluminum Manufacturing Co		738
	160,517		Qatar National Cement Co		170
	10,834	e	Quaker Chemical Corp		1,947
	45,337		Rallis India Ltd		176
	845,559		Ramelius Resources Ltd		1,277
	156,623	*,e	Ranpak Holdings Corp		1,491
	59,126	*	Rayonier Advanced Materials, Inc		189
	43,978		Recticel S.A.		450
	578,082		Regis Resources Ltd		2,101
	123,775	e	Reliance Steel & Aluminum Co		12,630
	583,883	*	Rengo Co Ltd		4,413
	1,103,221	*	Resolute Mining Ltd		746
	32,057		Rhi Magnesita NV		1,047
	426,285		Rio Tinto Ltd		29,116
	1,654,426		Rio Tinto plc		99,551
	260,777		Rongsheng Petro Chemical Co Ltd		721
	323,529	*	Royal Bafokeng Platinum Ltd		1,343
	114,556		Royal Gold, Inc		13,766
	39,401		RPM International, Inc		3,264
	39,294	*,e	Ryerson Holding Corp		225
	21,708		Sa des Ciments Vicat		727
	293,403	*	Sabina Gold & Silver Corp		569
	183,176		Sahara International Petrochemical Co		808
	13,219		Sakai Chemical Industry Co Ltd		258

102

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	45,800		Sakata INX Corp	$	460
	45,894		Salzgitter AG.		757
	16,626		Samsung Fine Chemicals Co Ltd		705
	217,928		Sandfire Resources NL		644
	207,916	*,e	Sandstorm Gold Ltd		1,755
	59,279		Sansteel Minguang Co Ltd		57
	13,211		Sanyo Chemical Industries Ltd		618
	21,306		Sanyo Special Steel Co Ltd		204
	528,067		Sappi Ltd		837
	1,163,150	*	Saracen Mineral Holdings Ltd		4,373
	300,317		Satipel Industrial S.A.		959
	195,143		Saudi Arabian Fertilizer Co		4,270
	400,379	*	Saudi Arabian Mining Co		4,477
	869,050		Saudi Basic Industries Corp		20,525
	40,167		Saudi Cement Co		622
	106,095		Saudi Industrial Investment Group		659
	396,763	*	Saudi Kayan Petrochemical Co		1,240
	42,957		Schnitzer Steel Industries, Inc (Class A)		826
	46,531		Schweitzer-Mauduit International, Inc		1,414
	212,900		Scientex BHD		544
	81,576	e	Scotts Miracle-Gro Co (Class A)		12,474
	57,367	*,e	Seabridge Gold, Inc		1,079
	11,961		Seah Besteel Corp		100
	49,349		Sealed Air Corp		1,915
	23,727		Sekisui Plastics Co Ltd		138
	27,713		Semapa-Sociedade de Investimento e Gestao		248
	211,846		Sensient Technologies Corp		12,232
	1,876,151		Sesa Sterlite Ltd		3,500
	119,302		Severstal (GDR)		1,516
	218,260		Shandong Gold Mining Co Ltd		812
	122,403		Shandong Hualu Hengsheng Chemical Co Ltd		442
	923,900		Shandong Nanshan Aluminum Co Ltd		310
	36,500		Shandong Sinocera Functional Material Co Ltd		200
	63,600		Shandong Sun Paper Industry JSC Ltd		132
	352,100		Shanghai Chlor-Alkali Chemical Co Ltd		151
	25,800		Shanghai Putailai New Energy Technology Co Ltd		414
	378,900		Shanxi Taigang Stainless Steel Co Ltd		205
	92,281		Sherwin-Williams Co		64,296
	36,600		Shikoku Chemicals Corp		407
	439,325		Shin-Etsu Chemical Co Ltd		57,488
	46,403	e	Shin-Etsu Polymer Co Ltd		396
	1,462,661		Shinkong Synthetic Fibers Corp		556
	70,400		Shiny Chemical Industrial Co Ltd		243
	1,597,200	e	Shougang Concord International Enterprises Co Ltd		493
	109,480		Showa Denko KK		2,010
	4,641		Shree Cement Ltd		1,279
	749,592		Siam Cement PCL (Foreign)		7,635
	2,160,736		Sibanye Stillwater Ltd		5,997
	288,510		SIG Combibloc Group AG.		5,769
	22,012		Sika AG.		5,405
	203,078		Silgan Holdings, Inc		7,467
	1,036,000	*	Silver Grant International		130
	989,916	*	Silver Lake Resources Ltd		1,662
	190,229		Silvercorp Metals, Inc		1,373

103

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	118,521	*,e	SilverCrest Metals, Inc	$	1,005
	193,144		Sims Group Ltd		1,063
	1,778,000		Sinofert Holdings Ltd		157
	2,302,924		Sinopec Shanghai Petrochemical Co Ltd		421
	859,700		Sinopec Shanghai Petrochemical Co Ltd (Class A)		421
	78,594		SK Chemicals Co Ltd		4,305
	7,284		SK Chemicals Co Ltd (New)		1,851
	19,779		SKC Co Ltd		1,399
	13,890		SKCKOLONPI, Inc		344
	729,361		Smurfit Kappa Group plc		28,619
	111,239		Sociedad Quimica y Minera de Chile S.A. (Class B)		3,616
	369,121		Soda Sanayii AS		395
	4,581		SODIFF Advanced Materials Co Ltd		890
	866,663	*,e	SolGold plc		311
	9,850		Solvay S.A.		847
	13,059		Songwon Industrial Co Ltd		145
	28,107		Sonoco Products Co		1,435
	30,545	*	Soulbrain Co Ltd		5,660
	4,517,227		South32 Ltd		6,704
	196,003		Southern Copper Corp (NY)		8,873
	62,956		Southern Province Cement Co		1,158
	12,863		SRF Ltd		722
	266,794	e	Ssab Svenskt Stal AB (Series A)		886
	693,527		Ssab Svenskt Stal AB (Series B)		2,204
	203,457	*,e	SSR Mining, Inc		3,797
	1,269,255		St Barbara Ltd		2,743
	288,039	e	Steel Dynamics, Inc		8,247
	38,970	e	Stelco Holdings, Inc		332
	11,000		Stella Chemifa Corp		312
	66,437		Stella-Jones, Inc		2,250
	51,367		Stepan Co		5,599
	2,887		STO AG.		384
	593,159		Stora Enso Oyj (R Shares)		9,284
	37,312		Sumitomo Bakelite Co Ltd		1,028
	1,445,932		Sumitomo Chemical Co Ltd		4,786
	341,485		Sumitomo Metal Mining Co Ltd		10,591
	38,821	e	Sumitomo Osaka Cement Co Ltd		1,255
	9,467		Sumitomo Seika Chemicals Co Ltd		306
	20,512	*,e	Sumitomo Titanium Corp		175
	507,368	*	Summit Materials, Inc		8,392
	175,660		SunCoke Energy, Inc		601
	2,444,500	*,†,e	Superb Summit International Group Ltd		3
	35,806		Supreme Industries Ltd		682
	519,139		Suzano Papel e Celulose S.A.		4,211
	564,925		Svenska Cellulosa AB (B Shares)		7,745
	22,451		Symrise AG.		3,101
	36,000		T Hasegawa Co Ltd		724
	844,751		TA Chen Stainless Pipe		576
	264		Taekwang Industrial Co Ltd		147
	84,407		Taiheiyo Cement Corp		2,155
	2,488,345		Taiwan Cement Corp		3,580
	754,000		Taiwan Fertilizer Co Ltd		1,326
	440,725		Taiwan Hon Chuan Enterprise Co Ltd		841
	756,346		Taiwan Styrene Monomer		424

104

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	18,600		Taiyo Ink Manufacturing Co Ltd	$	974
	267,319	e	Taiyo Nippon Sanso Corp		4,110
	13,655		Takasago International Corp		283
	5,300	*,e	Taki Chemical Co Ltd		364
	76,614		Takiron Co Ltd		509
	55,200		Tangshan Jidong Cement Co Ltd		126
	55,663		Tata Chemicals Ltd		227
	184,544		Tata Steel Ltd		904
	18,546		Tayca Corp		255
	34,254		Technosemichem Co Ltd		1,333
	438,347		Teck Cominco Ltd		6,103
	157,246		Teijin Ltd		2,439
	16,600		Tenma Corp		280
	128,766	*	Teranga Gold Corp		1,358
	29,735	*	Tessenderlo Chemie NV		1,116
	3,108,325		ThyssenKrupp AG.		15,640
	2,818,000		Tiangong International Co Ltd		906
	58,640		Tianqi Lithium Corp		172
	51,328	*,e	TimkenSteel Corp		182
	654,959		Tipco Asphalt PCL		315
	37,589		Titan Cement International S.A.		487
	111,303		Toagosei Co Ltd		1,193
	35,724		Toho Titanium Co Ltd		230
	209,929	e	Tokai Carbon Co Ltd		2,245
	9,600		Tokushu Tokai Holdings Co Ltd		456
	65,241		Tokuyama Corp		1,573
	34,714		Tokyo Ohka Kogyo Co Ltd		1,797
	104,104	e	Tokyo Steel Manufacturing Co Ltd		709
	572,750		Ton Yi Industrial Corp		198
	122,983	b	Tong Yang Major Corp		114
	52,400		Tongkun Group Co Ltd		107
	619,800		Tongling Nonferrous Metals Group Co Ltd		204
	18,000		Topy Industries Ltd		196
	1,384,392		Toray Industries, Inc		6,334
	93,286	*	Torex Gold Resources, Inc		1,319
	234,473		Tosoh Corp		3,807
	5,900	*	Toyo Gosei Co Ltd		416
	41,000		Toyo Ink Manufacturing Co Ltd		785
	176,701		Toyo Seikan Kaisha Ltd		1,748
	90,148		Toyobo Co Ltd		1,242
	5,815,900		TPI Polene PCL		247
	299,500		Transfar Zhilian Co Ltd		248
	33,406	*	Trecora Resources		205
	44,795		Tredegar Corp		666
	50,111	e	Trinseo S.A.		1,285
	406,407		Tronox Holdings plc		3,198
	468,000		TSRC Corp		288
	927,259		Tung Ho Steel Enterprise Corp		916
	1,104,821	*,e	Turquoise Hill Resources Ltd		938
	112,526		UBE Industries Ltd		1,900
	198,992		UFP Industries, Inc		11,245
	16,340	*	UFP Technologies, Inc		677
	106,913		Ultra Tech Cement Ltd		5,886
	30,764		Umicore S.A.		1,280

105

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	46,519		Uniao de Industrias Petroquimicas S.A.	$	231
	15,139		Unid Co Ltd		578
	249,799		United Phosphorus Ltd		1,709
	1,634		United States Lime & Minerals, Inc		147
	341,058	e	United States Steel Corp		2,503
	664,650		UPC Technology Corp		288
	504,109		UPM-Kymmene Oyj		15,344
	44,448	*	US Concrete, Inc		1,291
	1,367,973		USI Corp		746
	393,484		Usinas Siderurgicas de Minas Gerais S.A. (Preference)		703
	3,530,243		Vale S.A.		37,157
	10,063	*,e	Vallourec S.A.		200
	54,770		Valvoline, Inc		1,043
	33,275	g	Verallia S.A.		884
	61,494		Verso Corp		485
	33,369	*	Vetropack Holding AG.		2,053
	36,935	*	Victoria Gold Corp		416
	96,629		Victrex plc		2,282
	23,388		Vinati Organics Ltd		425
	200,920		Vinythai PCL (Foreign)		145
	108,597		Voestalpine AG.		2,862
	125,683		Vulcan Materials Co		17,035
	369,396		Wacker Chemie AG.		35,848
	551,821	*,e	Wallbridge Mining Co Ltd		423
	187,400		Wanhua Chemical Group Co Ltd		1,919
	83,729		Warrior Met Coal, Inc		1,430
	28,800		Weihai Guangwei Composites Co Ltd		303
	151,526	*	Wesdome Gold Mines Ltd		1,430
	5,652,491		West China Cement Ltd		837
	65,254	e	West Fraser Timber Co Ltd		3,032
	308,362		Western Areas NL		457
	403,724	*	Westgold Resources Ltd		695
	11,577		Westlake Chemical Corp		732
	360,816		WestRock Co		12,535
	470,402		Wheaton Precious Metals Corp		23,079
	2,740,838	e	Wienerberger AG.		72,432
	35,469		Winpak Ltd		1,211
	57,585	*	Worthington Industries, Inc		2,348
	1,018,213		WR Grace and Co		41,024
	43,800		Xiamen Tungsten Co Ltd		87
	324,133		Yamama Cement Co		2,247
	886,056		Yamana Gold, Inc		5,037
	45,605	e	Yamato Kogyo Co Ltd		1,117
	122,904		Yanbu Cement Co		1,186
	243,843		Yanbu National Petrochemical Co		3,823
	23,533		Yara International ASA		906
	264,974		Yeun Chyang Industrial Co Ltd		210
	873,220		Yieh Phui Enterprise		297
	130,480		Yintai Gold Co Ltd		203
	22,255		Yodogawa Steel Works Ltd		399
	8,073		Youlchon Chemical Co Ltd		107
	418		Young Poong Corp		168
	231,000	*,†,e	Youyuan International Holdings Ltd		0	^
	2,724,849		Yuen Foong Yu Paper Manufacturing Co Ltd		1,626

106

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	383,113		Yule Catto & Co plc	$	1,563
	39,433		Yunnan Energy New Material Co Ltd		534
	40,939	*	Zaklady Azotowe w Tarnowie-Moscicach S.A.		257
	543,216		Zeon Corp		5,697
	1,043,500		Zhaojin Mining Industry Co Ltd		1,283
	61,853		Zhejiang Huayou Cobalt Co Ltd		317
	216,700		Zhejiang Juhua Co Ltd		216
	191,100		Zhejiang Longsheng Group Co Ltd		383
	205,900		Zhongjin Gold Corp Ltd		306
	25,005		Zignago Vetro S.p.A.		392
	5,600,931		Zijin Mining Group Co Ltd		3,580
	1,324,100		Zijin Mining Group Co Ltd (Class A)		1,208
			TOTAL MATERIALS		4,877,351
MEDIA & ENTERTAINMENT - 7.1%
	1,672,984		Activision Blizzard, Inc		135,428
	20,513		Addcn Technology Co Ltd		145
	223,179	*	Adevinta ASA		3,835
	7,257		AfreecaTV Co Ltd		364
	167	*	Agora, Inc (ADR)		7
	7,000	e	Akatsuki, Inc		309
	5,857,467	*,e	Alibaba Pictures Group Ltd		874
	513,432	*	Alphabet, Inc (Class A)		752,486
	852,237	*	Alphabet, Inc (Class C)		1,252,447
	585,422	*	Altice NV (Class A)		2,787
	478,948	*	Altice USA, Inc		12,453
	95,700	*,e	Amazia, Inc		3,235
	49,003	e	AMC Entertainment Holdings, Inc		231
	102,811	*	AMC Networks, Inc		2,540
	28,240		Amuse, Inc		652
	102,269		Antena 3 de Television S.A.		270
	1,562		APG SGA S.A.		314
	147,636		Arnoldo Mondadori Editore S.p.A.		196
	443,871	g	Ascential plc		1,684
	2,841,548	g	Auto Trader Group plc		20,631
	29,933	e	Autohome, Inc (ADR)		2,874
	37,859		Avex Group Holdings, Inc		353
	248,829	*	Baidu, Inc (ADR)		31,499
	87,000		Beijing Enlight Media Co Ltd		214
	73,000		Beijing Kunlun Tech Co Ltd		281
	8,700	*,e	Bengo4.com, Inc		928
	109,500	*,e	Bilibili, Inc (ADR)		4,555
	31,741	*,e	Bitauto Holdings Ltd (ADR)		500
	14,831	*,e	Black Diamond Therapeutics, Inc		448
	1,374,964		Borussia Dortmund GmbH & Co KGaA		8,245
	16,779	*,e	Boston Omaha Corp		268
	983		Cable One, Inc		1,853
	61,270		Cairo Communication S.p.A.		91
	97,726		Capcom Co Ltd		5,454
	32,954	*,e	Cardlytics, Inc		2,326
	146,103	*	Cargurus, Inc		3,160
	108,903	*	Cars.com, Inc		880
	325,488		carsales.com Ltd		4,876
	33,774		CD Projekt Red S.A.		3,657

107

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	93,735	*	Central European Media Enterprises Ltd (Class A)	$	402
	246,949	*,e	Central European Media Enterprises Ltd (Class A) (NASDAQ)		1,035
	1,032,618		Central Retail Corp PCL		852
	297,620	*	Charter Communications, Inc		185,816
	37,662		Cheil Communications, Inc		675
	161,865	*,†	Chennai Super Kings Cricket Ltd		31
	12,100		China Film Co Ltd		25
	142,800	*,e,g	China Literature Ltd		1,077
	69,100		China South Publishing & Media Group Co Ltd		111
	44,400		Chinese Universe Publishing and Media Group Co Ltd		76
	171,065	e	Cinemark Holdings, Inc		1,711
	69,534	e	Cineplex Galaxy Income Fund		376
	1,157,173	e	Cineworld Group plc		605
	19,450		CJ CGV Co Ltd		373
	23,132		CJ Hellovision Co Ltd		76
	55,043		Cogeco Communications, Inc		4,514
	13,815		Cogeco, Inc		914
	65,618	*,e	COLOPL, Inc		560
	8,264		Com2uSCorp		809
	13,711,059		Comcast Corp (Class A)		634,274
	98,063	*	comScore, Inc		200
	2,118,849	*	Conyers Park II Acquisition Corp		22,566
	66,700	*	COOKPAD, Inc		237
	519,280		Corus Entertainment, Inc		1,127
	225,565		CTS Eventim AG.		10,902
	80,410		CyberAgent, Inc		4,965
	136,956		Cyfrowy Polsat S.A.		959
	43,931		Daiichikosho Co Ltd		1,411
	1,076	*,e	Daily Journal Corp		260
	173,833	e	Daily Mail & General Trust plc		1,458
	189,911		Dena Co Ltd		3,495
	198,728		Dentsu, Inc		5,866
	77,914	*,e	DHI Group, Inc		176
	77,964		Dip Corp		1,606
	31,163	*,e	Discovery, Inc (Class A)		678
	46,198	*	Discovery, Inc (Class C)		905
	380,269	*	DISH Network Corp (Class A)		11,039
	262,707		Domain Holdings Australia Ltd		703
	11,322		Echo Marketing, Inc		266
	677,334	*	Electronic Arts, Inc		88,331
	229,821	*	Embracer Group AB		4,269
	664,810		Entercom Communications Corp (Class A)		1,070
	353,479	e	Entravision Communications Corp (Class A)		537
	242,733	*,e	Eros International plc		536
	122,678		Euromoney Institutional Investor plc		1,268
	204,793		Eutelsat Communications		1,995
	100,531	*,e	Eventbrite Inc		1,091
	56,531	*	EverQuote Inc		2,184
	88,911		EW Scripps Co (Class A)		1,017
	52,129		F@N Communications, Inc		240
	6,094,862	*	Facebook, Inc		1,596,244
	61,898	*	Fluent, Inc		153
	926,540		Focus Media Information Technology Co Ltd		1,103

108

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	254,064		Fox Corp (Class A)	$	7,071
	237,991		Fox Corp (Class B)		6,657
	24,187	*	Frontier Developments plc		849
	405,755		Future plc		10,159
	18,470	*,e	Gaia, Inc		182
	21,848	e	Gakken Co Ltd		337
	271,004	e	Gannett Co, Inc		352
	3,700		G-bits Network Technology Xiamen Co Ltd		340
	39,500		Giant Network Group Co Ltd		112
	11,800	*,e	giftee, Inc		427
	596,304	*	Glu Mobile, Inc		4,577
	30,094	e	Gourmet Navigator, Inc		207
	123,884	*	Gray Television, Inc		1,706
	123,150		Gree, Inc		599
	2,301,627	e	Grupo Televisa S.A.		2,844
	4,439,777		Grupo Televisa SAB (ADR)		27,438
	48,143	*	GungHo Online Entertainment Inc		1,037
	182,437		Hakuhodo DY Holdings, Inc		2,359
	16,496	*	Hemisphere Media Group, Inc		143
	5,800	*	Heroz, Inc		197
	270,000		Homeland Interactive Technology Ltd		183
	254,630	e	HT&E Ltd		265
	31,800	*,e	HUYA, Inc (ADR)		762
	40,345		Hyundai Hy Communications & Network Co		117
	408,990	*	IBN18 Broadcast Ltd		159
	176,470	*	iClick Interactive Asia Group Ltd (ADR)		1,177
	389,200	*,e,g	iDreamSky Technology Holdings Ltd		235
	827,824	e	IGG, Inc		951
	235,072	*,e	iHeartMedia, Inc		1,909
	111,300	g	IMAX China Holding, Inc		181
	79,798	*	Imax Corp		954
	42,163		Info Edge India Ltd		2,082
	1,364,980		Informa plc		6,616
	35,617		Innocean Worldwide, Inc		1,626
	42,770		Inox Leisure Ltd		157
	56,854		International Games System Co Ltd		1,521
	455,962		Interpublic Group of Cos, Inc		7,601
	43,788		IPSOS		1,095
	115,800	*,e	IQIYI, Inc (ADR)		2,615
	13,556	*,e	Itokuro, Inc		159
	8,215,176		ITV plc		7,162
	129,597	e	JC Decaux S.A.		2,240
	4,507		Jcontentree Corp		98
	198,151	*	JDE Peet’s BV		8,058
	6,648		John Wiley & Sons, Inc (Class A)		211
	32,427	*	Just Dial Ltd		168
	563,610	*,e	Juventus Football Club S.p.A.		562
	23,098		JYP Entertainment Corp		750
	55,762	e	Kadokawa Dwango Corp		1,478
	103,580	e	Kakaku.com, Inc		2,731
	28,667		Kakao Corp		8,914
	291,500	e	Kamakura Shinsho Ltd		2,562
	14,571	e	Kinepolis Group NV		518
	36,184	*	KLab, Inc		325

109

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	70,071	e	Konami Corp	$	3,031
	20,060		KT Skylife Co Ltd		160
	56,533	e	Lagardere S.C.A.		1,397
	447,500		Leo Group Co Ltd		191
	1,216,767	*,e	Leyou Technologies Holdings Ltd		512
	8,406	*,e	Liberty Braves Group (Class A)		176
	140,505	*	Liberty Braves Group (Class C)		2,952
	36,523	*	Liberty Broadband Corp (Class A)		5,179
	150,157	*	Liberty Broadband Corp (Class C)		21,453
	194,001	*	Liberty Global plc (Class A)		4,076
	37,070	*	Liberty Media Group (Class A)		1,242
	376,729	*	Liberty Media Group (Class C)		13,664
	117,791	*	Liberty SiriusXM Group (Class A)		3,907
	251,128	*	Liberty SiriusXM Group (Class C)		8,307
	126,816	*	Liberty TripAdvisor Holdings, Inc		219
	47,020	*	LINE Corp		2,393
	88,057	*,e	Lions Gate Entertainment Corp (Class A)		835
	161,767	*	Lions Gate Entertainment Corp (Class B)		1,411
	211,270	*	Live Nation, Inc		11,383
	74,644	*,e	LiveXLive Media, Inc		194
	55,875	e	Loral Space & Communications, Inc		1,023
	39,694		M6-Metropole Television		474
	56,483		Macromill, Inc		408
	27,800	*	Madison Square Garden Co		4,183
	25,949	*	Madison Square Garden Entertainment Corp		1,777
	569,737	*	Mail.Ru Group Ltd		15,611
	616,700		Major Cineplex Group PCL (Foreign)		302
	53,590		Mango Excellent Media Co Ltd		533
	42,028	e	Marcus Corp		325
	30,958		Marvelous, Inc		236
	1,626,591	*	Match Group, Inc		179,982
	819,876	e	Mediaset Espana Comunicacion SA		3,036
	332,777	*,e	Mediaset S.p.A.		638
	294,268		Megacable Holdings SAB de C.V.		847
	46,179		Meredith Corp		606
	46,790		Mixi Inc		1,262
	403,697	g	Mobvista, Inc		199
	75,242	*	Modern Times Group AB (B Shares)		1,053
	74,300		Momo, Inc (ADR)		1,022
	55,325	*,e	MSG Networks, Inc		529
	21,100		MTI Ltd		178
	211,543		MultiChoice Group Ltd		1,222
	71,400		NanJi E-Commerce Co Ltd		181
	130,528	e	National CineMedia, Inc		354
	199,792		Naver Corp		50,771
	8,312		NCsoft		5,728
	528,134		NetDragon Websoft, Inc		1,157
	41,800		Netease.com (ADR)		19,005
	863,026	*	Netflix, Inc		431,539
	10,748	*,e,g	Netmarble Corp		1,521
	3,060		New Work SE		935
	236,447		New York Times Co (Class A)		10,118
	75,917		News Corp (Class A)		1,064
	30,609		News Corp (Class B)		428

110

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	379,060	*	Nexon Co Ltd	$	9,455
	66,490		Nexstar Media Group Inc		5,979
	75,308	*	Next Co Ltd		319
	9,076	*	NHN Entertainment Corp		576
	1,692,298		Nine Entertainment Co Holdings Ltd		2,141
	639,208	*	Ninety One plc		1,676
	235,132		Nintendo Co Ltd		133,247
	74,443		Nordic Entertainment Group AB		3,155
	1,155,000		NOVA Group Holdings Ltd		20
	92,600		Omnicom Group, Inc		4,584
	665,407		oOh!media Ltd		587
	17,400		OPT, Inc		234
	82,732		Paradox Interactive AB		2,805
	8,731	*	Pearl Abyss Corp		1,504
	468,030	e	Pearson plc		3,320
	113,250		Perfect World Co Ltd		556
	573,730	*	Pinterest, Inc		23,816
	1,640,505		Plan B Media PCL		304
	146,600	*,e	PR Times, Inc		3,965
	244,140	*	Promotora de Informaciones S.A.		115
	307,753	e	ProSiebenSat. Media AG.		4,033
	61,008		Proto Corp		739
	3,750,998		PT Media Nusantara Citra Tbk		182
	694,993		PT Multimedia Servicos de Telecomunicacoes e Multimedia SGPS S.A.		2,464
	5,866,280		PT Surya Citra Media Tbk		483
	28,794		Publicis Groupe S.A.		928
	38,632		PVR Ltd		634
	164,462		Quebecor, Inc		4,114
	108,077	*	QuinStreet, Inc		1,712
	52,754	*,e	Qutoutiao, Inc (ADR)		116
	108,162	g	RAI Way S.p.A		687
	48,765		REA Group Ltd		3,883
	1,729,052		Rightmove plc		13,978
	169,606	*	Roku, Inc		32,022
	50,600	e,g	Rovio Entertainment Oyj		363
	22,453	*,e	RPA Holdings, Inc		182
	430,500		RS PCL		251
	3,053	e	Saga Communications, Inc		61
	79,478		Sanoma-WSOY Oyj		1,018
	33,372	*	Saudi Research & Marketing Group		702
	91,684		Schibsted ASA (B Shares)		3,653
	46,667		Scholastic Corp		980
	253,350	g	Scout24 AG.		22,099
	238,445	*	Sea Ltd (ADR)		36,730
	1,000,000	e	Septeni Holdings Co Ltd		3,003
	357,547		SES Global S.A.		2,531
	108,170		Shanghai Oriental Pearl Group Co Ltd		154
	434,327	*,e	Shaw Communications, Inc (B Shares)		7,926
	10,101	e	Shochiku Co Ltd		1,478
	30,392	*	Sina Corp		1,295
	75,101	e	Sinclair Broadcast Group, Inc (Class A)		1,444
	1,802,500	e	Singapore Press Holdings Ltd		1,381
	1,751,898	e	Sirius XM Holdings, Inc		9,390

111

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	142,300		Sky Perfect Jsat Corp	$	622
	18,206	*	SM Entertainment Co		555
	617,600	*,†,e	SMI Holdings Group Ltd		1
	58,697		Smiles Fidelidade S.A.		146
	559,750	*	Snap, Inc		14,615
	47,454	e	Societe Television Francaise 1		290
	61,540		Soft-World International Corp		182
	30,341	*	Sohu.com Ltd (ADR)		603
	2,971,154		Southern Cross Media Group		321
	248,436	*	Spotify Technology S.A.		60,263
	63,900		Square Enix Co Ltd		4,229
	30,972	*	Stillfront Group AB		3,869
	42,135	*,e	Storytel AB		1,175
	31,604		Stroer Out-of-Home Media AG.		2,455
	353,050	*	Take-Two Interactive Software, Inc		58,331
	3,034		Tamedia AG.		219
	116,448	*	TechTarget, Inc		5,119
	51,600		Tecmo Koei Holdings Co Ltd		2,489
	635,858		TEGNA, Inc		7,471
	42,791		Telenet Group Holding NV		1,661
	342,096		Television Broadcasts Ltd		297
	3,311		TEN Square Games S.A.		493
	9,723,859		Tencent Holdings Ltd		656,782
	1,344,700	*	Tencent Music Entertainment (ADR)		19,861
	9,500	e	Toei Animation Co Ltd		620
	6,584		Toei Co Ltd		1,097
	77,170		Toho Co Ltd		3,182
	36,600		Tokyo Broadcasting System, Inc		632
	167,600	*	Tongdao Liepin Group		419
	25,316	e	Tribune Publishing Co		295
	135,378		TripAdvisor, Inc		2,652
	178,045	*	TrueCar, Inc		890
	225,291	*	Tuas Ltd		86
	24,551		TV Asahi Corp		390
	6,500	*	TV Tokyo Corp		149
	2,319,299	*	Twitter, Inc		103,209
	576,946	*	Ubisoft Entertainment		51,999
	10,900	*,e	UUUM, Inc		234
	17,458		ValueCommerce Co Ltd		586
	32,335	*,e	Vector, Inc		330
	15,741		ViacomCBS, Inc (Class A)		477
	1,110,291		ViacomCBS, Inc (Class B)		31,099
	77,010		Village Roadshow Ltd		121
	640,329		Vivendi Universal S.A.		17,884
	5,108,717		Walt Disney Co		633,890
	51,100	*	Wanda Film Holding Co Ltd		134
	14,143	*	Webzen, Inc		426
	29,198	*,e	Weibo Corp (ADR)		1,064
	8,347		WeMade Entertainment Co Ltd		266
	98,845	*	WideOpenWest, Inc		513
	73,427		World Wrestling Entertainment, Inc (Class A)		2,972
	6,700		Wowow, Inc		178
	1,636,382		WPP plc		12,852

112

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	62,200		Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd	$	364
	2,001,201		Yahoo! Japan Corp		13,367
	902,012	*	Yandex NV		58,856
	127,039	*	Yelp, Inc		2,552
	9,189		YG Entertainment, Inc		453
	57,300		Youzu Interactive Co Ltd		148
	446,794		ZEE Telefilms Ltd		1,270
	35,450		Zenrin Co Ltd		382
	63,000		ZIGExN Co Ltd		207
	85,998	*	Zillow Group, Inc (Class A)		8,732
	233,310	*,e	Zillow Group, Inc (Class C)		23,702
	1,300,442	*	Zynga, Inc		11,860
			TOTAL MEDIA & ENTERTAINMENT		8,012,745
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 8.0%
	249,413	*,e	10X Genomics, Inc		31,097
	677,500	*,g	3SBio, Inc		768
	50,698	*,e	89bio, Inc		1,301
	32,464	*	AB Science S.A.		477
	6,161,364		AbbVie, Inc		539,674
	298,772		Abcam plc		4,719
	86,546	*	Abeona Therapeutics, Inc		88
	26,446	*	ABLBio, Inc		699
	461,011	*	Acadia Pharmaceuticals, Inc		19,017
	181,202	*,e	Accelerate Diagnostics, Inc		1,932
	76,980	*	Acceleron Pharma, Inc		8,663
	128,738	*,e	AcelRx Pharmaceuticals, Inc		183
	111,692	*	Adaptive Biotechnologies Corp		5,432
	51,863		Adcock Ingram Holdings Ltd		120
	50,771	*,e	ADMA Biologics, Inc		121
	62,996	*	Aduro Biotech, Inc		153
	146,872	*	Adverum Biotechnologies, Inc		1,513
	37,126	*	Aeglea BioTherapeutics, Inc		263
	180,532	*,e	Aerie Pharmaceuticals, Inc		2,125
	98,113	*,e	Affimed NV		333
	139,503	*,e	Agenus, Inc		558
	134,932	*,e	Agile Therapeutics, Inc		410
	55,528		Agilent Technologies, Inc		5,605
	102,767	*	Agios Pharmaceuticals, Inc		3,597
	37,560	*,e	Aimmune Therapeutics, Inc		1,294
	19,661		Ajanta Pharma Ltd		430
	39,791	*,e	Akcea Therapeutics, Inc		722
	469,530	*	Akebia Therapeutics, Inc		1,179
	29,194	*	Akero Therapeutics, Inc		899
	10,504	*	Akouos, Inc		240
	39,062	*	Albireo Pharma, Inc		1,304
	75,281	*,†,e	Alder Biopharmaceuticals Inc		66
	93,519	*,e	Alector, Inc		985
	41,918		Alembic Pharmaceuticals Ltd		534
	247,722	*	Alexion Pharmaceuticals, Inc		28,347
	7,356	*	ALK-Abello AS		2,419
	77,325	*	Alkermes plc		1,281
	26,493	*,e	Allakos, Inc		2,158

113

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	507,032		Alliance Pharma plc	$	484
	73,997	*	Allogene Therapeutics, Inc		2,790
	21,380	*	Allovir, Inc		588
	155,030	*	Alnylam Pharmaceuticals, Inc		22,572
	16,355	*	Alteogen, Inc		2,510
	6,897	*	ALX Oncology Holdings, Inc		260
	48,085	*,e	AMAG Pharmaceuticals, Inc		452
	1,038,524		Amgen, Inc		263,951
	13,764	*	Amicogen, Inc		512
	998,826	*	Amicus Therapeutics, Inc		14,103
	90,650	*	Amneal Pharmaceuticals, Inc		352
	89,655	*,e	Amphastar Pharmaceuticals, Inc		1,681
	48,216	*,e	AnaptysBio, Inc		711
	44,744	*,e	Anavex Life Sciences Corp		204
	137,672	*,e	AnGes MG, Inc		1,894
	12,758	*	ANI Pharmaceuticals, Inc		360
	24,442	*	Anika Therapeutics, Inc		865
	10,700	*	Annexon, Inc		323
	5,627	*	Anterogen Co Ltd		253
	2,796,000	*,†	Anxin-China Holdings Ltd		4
	82,769	*,e	Apellis Pharmaceuticals, Inc		2,497
	58,100		Apeloa Pharmaceutical Co Ltd		204
	458,101	*,e	Aphria, Inc		2,033
	33,788	*,e	Applied Genetic Technologies Corp		164
	8,933	*	Applied Molecular Transport, Inc		284
	11,865	*	Applied Therapeutics, Inc		246
	6,590	*,e	Aprea Therapeutics, Inc		159
	65,027	*,e	Aptinyx, Inc		220
	74,846	*,e	Aquestive Therapeutics, Inc		363
	25,165	*,e	Arcturus Therapeutics Holdings, Inc		1,080
	93,276	*,e	Arcus Biosciences, Inc		1,599
	14,134	*,e	Arcutis Biotherapeutics, Inc		414
	88,539	*,e	Ardelyx, Inc		465
	188,896	*	Arena Pharmaceuticals, Inc		14,128
	41,591	*	Argenx SE		10,987
	242,521	*,e	Arrowhead Pharmaceuticals Inc		10,443
	35,502	*	Arvinas, Inc		838
	292,000	*,g	Ascletis Pharma, Inc		105
	20,596		ASKA Pharmaceutical Co Ltd		278
	186,557	*	Aspen Pharmacare Holdings Ltd		1,332
	66,127	*,e	Aspira Women’s Health, Inc		204
	42,599	*	Assembly Biosciences, Inc		700
	1,863,984		Astellas Pharma, Inc		27,786
	4,913		AstraZeneca Pharma India Ltd		288
	3,563,950		AstraZeneca plc		389,413
	1,091,494		AstraZeneca plc (ADR)		59,814
	26,000		Asymchem Laboratories Tianjin Co Ltd		1,009
	174,878	*	Atara Biotherapeutics, Inc		2,266
	24,202	*	ATGen Co Ltd		295
	102,580	*	Athenex, Inc		1,241
	155,609	*,e	Athersys, Inc		303
	28,242	*,e	Atreca, Inc		395
	117,027	*	Aurinia Pharmaceuticals, Inc		1,723
	340,570		Aurobindo Pharma Ltd		3,688

114

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	5,050,113	*	Avantor, Inc	$	113,577
	6,333	*,e	Avenue Therapeutics, Inc		69
	22,374	*	AVEO Pharmaceuticals, Inc		133
	214,612	*,e	Avid Bioservices, Inc		1,635
	14,491	*	Avidity Biosciences, Inc		408
	121,055	*	Avita Medical Ltd		606
	27,698	*	Avrobio, Inc		361
	21,981	*,e	Axcella Health, Inc		102
	199,024	*,e	Axsome Therapeutics, Inc		14,180
	24,129	*,e	Aytu BioScience, Inc		29
	5,790		Bachem Holding AG.		2,457
	13,453	*,e	Basilea Pharmaceutica		741
	297,327	*	Bausch Health Cos, Inc		4,622
	64,095	*,e	Bavarian Nordic AS		1,982
	1,346,584		Bayer AG.		83,076
	33,359	*,e	Beam Therapeutics, Inc		821
	12,706	*	BeiGene Ltd (ADR)		3,640
	167,060		Beijing Tiantan Biological Products Corp Ltd		977
	238,000	e	Beijing Tong Ren Tang Chinese Medicine Co Ltd		257
	74,100		Beijing Tongrentang Co Ltd		294
	9,616	*,e	Bellerophon Therapeutics, Inc		98
	46,137	*,e	BELLUS Health, Inc		105
	120,561	*	Berkeley Lights, Inc		9,206
	21,800		Betta Pharmaceuticals Co Ltd		365
	12,286	*,e	Beyondspring Inc		164
	63,400		BGI Genomics Co Ltd		1,346
	24,334	*	Binex Co Ltd		648
	37,664	e,g	BioArctic AB		374
	257,793		Biocon Ltd		1,564
	503,434	*,e	BioCryst Pharmaceuticals, Inc		1,729
	485,202	*	BioDelivery Sciences International, Inc		1,810
	17,894		Biogaia AB (B Shares)		1,158
	31,375	*	Biogen, Inc		8,900
	90,950	*,e	Biohaven Pharmaceutical Holding Co Ltd		5,913
	595,210	*	BioMarin Pharmaceutical, Inc		45,284
	1	*	BioNTech SE (ADR)		0	^
	6,538	*	Bio-Rad Laboratories, Inc (Class A)		3,370
	6,762	*	Biospecifics Technologies Corp		357
	64,495		Biotage AB		1,277
	6,624		Bio-Techne Corp		1,641
	320,741	*	Biovitrum AB		7,738
	20,081	*,e	Bioxcel Therapeutics Inc		871
	112,510	*	Bluebird Bio, Inc		6,070
	87,442	*	Blueprint Medicines Corp		8,106
	5,035		Boiron S.A.		241
	17,974		Boryung Pharmaceutical Co Ltd		237
	23,676	*,e	BrainStorm Cell Therapeutics, Inc		401
	99,380	*,e	Bridgebio Pharma, Inc		3,729
	4,020,119		Bristol-Myers Squibb Co		242,373
	21,629		Bruker BioSciences Corp		860
	30,608		Bukwang Pharmaceutical Co Ltd		745
	41,254	*,e	Cabaletta Bio, Inc		447
	52,734	*,e	Calithera Biosciences, Inc		182
	6,037	*,e	Calyxt, Inc		33

115

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	32,188	*,e	Camurus AB	$	690
	211,434	*,e	Canopy Growth Corp (Toronto)		3,031
	56,647	*,g	CanSino Biologics, Inc		1,208
	140,998	*,e	Cara Therapeutics, Inc		1,794
	172,430	*	CareDx, Inc		6,542
	40,442	*,e	CASI Pharmaceuticals, Inc		62
	34,285	*,e	Cassava Sciences, Inc		395
	49,075	*	Castle Biosciences, Inc		2,525
	15,841	*,e	Catabasis Pharmaceuticals, Inc		98
	678,725	*	Catalent, Inc		58,140
	48,816	*,e	Catalyst Biosciences, Inc		210
	87,063	*	Catalyst Pharmaceuticals, Inc		259
	66,942	*	Cellectis S.A.		1,242
	5,870	*	Cellivery Therapeutics, Inc		1,016
	8,170	*	Celltrion Pharm Inc		789
	89,905	*	Celltrion, Inc		19,776
	11,788	*,e	Cellular Biomedicine Group, Inc		216
	33,050	*,e	CEL-SCI Corp		421
	294,765		Center Laboratories, Inc		697
	8,603	*	Centogene NV		81
	28,485	*,e	Cerecor Inc		65
	6,265	*,e	Champions Oncology, Inc		58
	20,500		Changchun High & New Technology Industry Group, Inc		1,116
	78,502	*	Charles River Laboratories International, Inc		17,777
	110,126	*,e	Charlottes Web Holdings, Inc		261
	7,463	*	Checkmate Pharmaceuticals, Inc		86
	42,041	*	Checkpoint Therapeutics Inc		113
	178,274	*	ChemoCentryx, Inc		9,769
	13,709		Chemometec A.S.		973
	24,800		Chengdu Kanghong Pharmaceutical Group Co Ltd		166
	100,216	*,e	Chiasma, Inc		431
	107,619	*,e	Chimerix, Inc		268
	1,316,000		China Grand Pharmaceutical and Healthcare Holdings Ltd		1,209
	4,918,634		China Medical System Holdings Ltd		5,443
	957,500	g	China Resources Pharmaceutical Group Ltd		494
	37,900		China Resources Sanjiu Medical & Pharmaceutical Co Ltd		143
	633,560		China Shineway Pharmaceutical Group Ltd		398
	2,506		Chong Kun Dang Pharm Corp		228
	6,180		Chong Kun Dang Pharmaceutical Corp		875
	141,000		Chongqing Zhifei Biological Products Co Ltd		2,893
	11,479		Choongwae Pharma Corp		330
	38,030	*,e	ChromaDex Corp		153
	756,699	*	Chugai Pharmaceutical Co Ltd		33,957
	29,197	*	Cidara Therapeutics, Inc		83
	342,083		Cipla Ltd		3,595
	145,641		Clinigen Group plc		1,316
	97,096	e	Clinuvel Pharmaceuticals Ltd		1,631
	164,126	*,e	Clovis Oncology, Inc		957
	94,607	*	CMG Pharmaceutical Co Ltd		358
	10,467		CMIC Co Ltd		135
	77,243	*	Codexis, Inc		907

116

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	23,880	*,e	Cohbar, Inc	$	23
	563,043	*	Coherus Biosciences, Inc		10,326
	48,717	*	Collegium Pharmaceutical, Inc		1,014
	92,471	*,e	Compugen Ltd		1,503
	43,697	*,e	Concert Pharmaceuticals, Inc		429
	98,791	*,e	Constellation Pharmaceuticals, Inc		2,002
	389,126		Consun Pharmaceutical Group Ltd		168
	48,908	*,e	ContraFect Corp		258
	47,467	*,e	Corbus Pharmaceuticals Holdings, Inc		85
	138,614	*,e	Corcept Therapeutics, Inc		2,413
	62,181	*,e	CorMedix Inc		375
	23,136	*,e	Cortexyme Inc		1,157
	8,508	*,e	COSMO Pharmaceuticals NV		810
	97,413	*,e	Crinetics Pharmaceuticals, Inc		1,526
	45,231	*,e	CRISPR Therapeutics AG.		3,783
	180,581	*,e	Cronos Group, Inc		907
	32,838	*	CrystalGenomics, Inc		503
	657,922		CSL Ltd		135,905
	3,233,953		CSPC Pharmaceutical Group Ltd		6,313
	460,355	*,g	CStone Pharmaceuticals		585
	59,727	*	Cue Biopharma, Inc		899
	53,307	*	Cymabay Therapeutics, Inc		386
	184,723	*	Cytokinetics, Inc		3,999
	95,758	*	CytomX Therapeutics, Inc		637
	92,930		Da An Gene Co Ltd		480
	11,031		Daewon Pharmaceutical Co Ltd		191
	46,000		Daewoong Co Ltd		1,208
	4,288		Daewoong Pharmaceutical Co Ltd		384
	5,471,493		Daiichi Sankyo Co Ltd		167,963
	12,201		Daito Pharmaceutical Co Ltd		411
	38,568	*,e	DBV Technologies S.A.		139
	626,385		Dechra Pharmaceuticals plc		26,045
	67,376	*	Deciphera Pharmaceuticals, Inc		3,456
	103,926	*	Denali Therapeutics, Inc		3,724
	15,225		Dermapharm Holding SE		814
	7,042	*,e	DermTech, Inc		84
	187,781	*	Dicerna Pharmaceuticals, Inc		3,378
	39,173		Divi S Laboratories Ltd		1,622
	3,068		Dong-A Pharmaceutical Co Ltd		329
	4,601		Dong-A ST Co Ltd		365
	19,100		Dong-E-E-Jiao Co Ltd		112
	22,405		DongKook Pharmaceutical Co Ltd		524
	16,888	*	Dongsung Pharmaceutical Co Ltd		178
	136,867		Dr Reddy’s Laboratories Ltd		9,585
	226,610		Dr Reddys Laboratories Ltd (ADR)		15,763
	334,770	*,e	Durect Corp		572
	16,786	*,e	Dyadic International, Inc		127
	104,559	*,e	Dynavax Technologies Corp		452
	8,276	*	Eagle Pharmaceuticals, Inc		352
	160,669	*	Ecofibre Ltd		291
	139,875	*,e	Editas Medicine, Inc		3,925
	8,056	*,e	Eidos Therapeutics, Inc		407
	20,978	*	Eiger BioPharmaceuticals, Inc		171
	655,490		Eisai Co Ltd		59,867

117

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	481,923	*	Elanco Animal Health, Inc	$	13,460
	1,696,052		Eli Lilly & Co		251,050
	14,733	*,e	Eloxx Pharmaceuticals, Inc		39
	124,031	*	Emergent Biosolutions, Inc		12,816
	32,944	*	Enanta Pharmaceuticals, Inc		1,508
	242,504	*	Endo International plc		800
	4,377	*,e	Enochian Biosciences Inc		16
	6,273	*	Enzychem Lifesciences Corp		584
	18,837	*	Eone Diagnomics Genome Center Co Ltd		229
	133,177	*,e	Epizyme, Inc		1,589
	29,600		EPS Co Ltd		294
	29,698	g	Eris Lifesciences Ltd		217
	38,186	*,e	Esperion Thereapeutics, Inc		1,419
	264,000		Essex Bio-technology Ltd		155
	13,552	*,e	Eton Pharmaceuticals, Inc		107
	23,351	e	Eurofins Scientific		18,498
	5,983	*	Eutilex Co Ltd		179
	11,445	*,e	Evelo Biosciences, Inc		60
	71,276	*,e	Evofem Biosciences Inc		168
	35,065	*,e	Evolus, Inc		137
	158,145	*,e	Evotec AG.		4,169
	396,819	*	Exact Sciences Corp		40,456
	462,388	*	Exelixis, Inc		11,305
	54,106	*,e	Exicure, Inc		95
	542,693		Faes Farma S.A. (Sigma)		2,184
	178,693	*	Fate Therapeutics, Inc		7,142
	38,195		FDC Ltd		185
	46,820	*,e	Fennec Pharmaceuticals, Inc		284
	185,391	*	FibroGen, Inc		7,623
	81,623	*	Five Prime Therapeutics, Inc		384
	142,759	*,e	Flexion Therapeutics, Inc		1,486
	216,137	*,e	Fluidigm Corp		1,606
	13,844	*	Forma Therapeutics Holdings, Inc		690
	145,571	*,e	Fortress Biotech, Inc		588
	18,278	*,e	Frequency Therapeutics, Inc		351
	15,900		Fuji Pharma Co Ltd		189
	18,968	*,e	Fulcrum Therapeutics, Inc		150
	39,816	*,e	G1 Therapeutics, Inc		460
	5,637	*,e	Galapagos NV		801
	35,974	*,e	Galectin Therapeutics, Inc		96
	8,071	*,e	Galera Therapeutics, Inc		73
	8,846	*	Generation Bio Co		273
	14,780	*	Genexine Co Ltd		1,803
	41,531	*,e	Genfit		237
	244,082	*	Genmab A.S. (ADR)		8,936
	158,842	*	Genmab AS		57,645
	753,656	*,e	Genomma Lab Internacional S.A. de C.V.		738
	26,156	*,e	Genprex, Inc		88
	544,000	*	Genscript Biotech Corp		897
	86,314		Genus plc		4,280
	471,912	*,e	Geron Corp		821
	34,840		Gerresheimer AG.		3,899
	752,882		Gilead Sciences, Inc		47,575
	2,597,953		GlaxoSmithKline plc		48,705

118

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	169,341		GlaxoSmithKline plc (ADR)	$	6,374
	285,369		Glenmark Pharmaceuticals Ltd		1,871
	150,421	*	Global Blood Therapeutics, Inc		8,294
	243,613	*,e	GlycoMimetics, Inc		748
	49,301	*	GNI Group Ltd		1,757
	70,139	*,e	Gossamer Bio, Inc		870
	113,066		Granules India Ltd		590
	5,448		Green Cross Cell Corp		189
	5,552		Green Cross Corp		1,053
	18,590		Green Cross Holdings Corp		371
	4,447		Green Cross LabCell Corp		186
	39,646	e	Grifols S.A.		1,140
	59,292	*,e	Gritstone Oncology, Inc		157
	20,927	*	G-treeBNT Co Ltd		475
	60,700		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		270
	8	*	GW Pharmaceuticals plc		0	^
	66,577	*,e	GW Pharmaceuticals plc (ADR)		6,481
	9,264		H Lundbeck AS		305
	336,586	*	Halozyme Therapeutics, Inc		8,845
	29,540	*	Han All Pharmarceutical Co		854
	7,627		Handok Pharmaceuticals Co Ltd		208
	99,650		Hangzhou Tigermed Consulting Co Ltd		1,512
	3,093		Hanmi Pharm Co Ltd		723
	39,770	*	Hansa Medical AB		1,057
	600,000	*,g	Hansoh Pharmaceutical Group Co Ltd		2,933
	59,262	*	Harpoon Therapeutics, Inc		1,007
	20,366	*,e	Harrow Health, Inc		114
	57,111	*,e	Harvard Bioscience, Inc		172
	23,000	*	HEALIOS KK		411
	209,890	*	Heron Therapeutics, Inc		3,111
	78,641		Hikma Pharmaceuticals plc		2,636
	84,259		Hisamitsu Pharmaceutical Co, Inc		4,308
	30,589	*	Homology Medicines, Inc		327
	21,685	*,e	Hookipa Pharma, Inc		205
	1,161,830	*	Horizon Therapeutics Plc		90,251
	2,548,684	*,†,e	Hua Han Bio-Pharmaceutical Holdings Ltd		20
	130,517		Hualan Biological Engineering, Inc		1,095
	19,700		Hubei Jumpcan Pharmaceutical Co Ltd		64
	6,176	*	Hugel, Inc		963
	4,890		Huons Co Ltd		261
	33,100	*	Hutchison China MediTech Ltd (ADR)		1,069
	183,917		Hypermarcas S.A.		977
	117,144	*,e	iBio, Inc		238
	40,856	*	ICON plc		7,807
	31,681	*,e	Ideaya Biosciences, Inc		398
	103,596	*	Idorsia Ltd		2,781
	13,419	*,e	IGM Biosciences, Inc		990
	8,144		Il Dong Pharmaceutical Co Ltd		117
	360,785	*	Illumina, Inc		111,511
	12,651		Ilyang Pharmaceutical Co Ltd		853
	4,468	*	IMARA, Inc		91
	39,876	*	Immunic, Inc		741
	332,364	*	Immunogen, Inc		1,197

119

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

SHARES			COMPANY	VALUE (000)
	555,593	*	Immunomedics, Inc	$	47,242
	96,415	*	Immunovant, Inc		3,393
	229,420	*	Incyte Corp		20,588
	1,359,419	*	Indivior plc		2,052
	119,572	*,e	Innate Pharma S.A.		455
	921,500	*,g	Innovent Biologics, Inc		6,872
	298,123	*	Innoviva, Inc		3,115
	305,360	*,e	Inovio Pharmaceuticals, Inc		3,542
	5,636	*	Inozyme Pharma, Inc		148
	155,228	*	Insmed, Inc		4,989
	147,152	*,e	Intellia Therapeutics, Inc		2,925
	61,487	*	Intercept Pharmaceuticals, Inc		2,549
	78,479	*	Intersect ENT, Inc		1,280
	135,623	*	Intra-Cellular Therapies, Inc		3,480
	21,507	*	iNtRON Biotechnology, Inc		268
	205,066	*,e	Invitae Corp		8,890
	160,732	*	Ionis Pharmaceuticals, Inc		7,627
	200,827	*	Iovance Biotherapeutics, Inc		6,611
	5,024		Ipsen		525
	473,097	*	IQVIA Holdings, Inc		74,574
	386,800	*,e	Ironwood Pharmaceuticals, Inc		3,479
	7,749	*	iTeos Therapeutics, Inc		191
	163,498	*,e	IVERIC bio, Inc		922
	18,300	*,e	Japan Tissue Engineering Co Lt		127
	687,721	*	Jazz Pharmaceuticals plc		98,062
	19,096		JB Chemicals & Pharmaceuticals Ltd		257
	67,144		JCR Pharmaceuticals Co Ltd		1,970
	4,092		Jeil Pharmaceutical Co Ltd		152
	159,244		Jiangsu Hengrui Medicine Co Ltd		2,108
	34,400		Jilin Aodong Pharmaceutical Group Co Ltd		85
	147,100		Jinyu Bio-Technology Co Ltd		585
	4,952,862		Johnson & Johnson		737,382
	43,000		Joincare Pharmaceutical Group Industry Co Ltd		108
	28,528	*	Jounce Therapeutics, Inc		233
	68,687		Jubilant Organosys Ltd		683
	27,967		JW Holdings Corp		139
	165,440	*	Kadmon Holdings, Inc		649
	69,979		Kaken Pharmaceutical Co Ltd		3,207
	48,399	*,e	Kala Pharmaceuticals, Inc		363
	11,155	*,e	Kaleido Biosciences Inc		123
	62,292	*,e	KalVista Pharmaceuticals Inc		784
	72,227	*,e	Karo Pharma AB		563
	22,589	*	Karuna Therapeutics, Inc		1,747
	336,590	*,e	Karyopharm Therapeutics, Inc		4,914
	6,154	*	Keros Therapeutics, Inc		237
	78,510	*,e	Kezar Life Sciences, Inc		380
	60,440	*	Kindred Biosciences, Inc		259
	139,833	*	Kiniksa Pharmaceuticals Ltd		2,142
	29,100		Kissei Pharmaceutical Co Ltd		658
	114,514	*	Knight Therapeutics, Inc		499
	44,171	*,e	Kodiak Sciences, Inc		2,615
	36,079	*	Komipharm International Co Ltd		450
	8,592		Korea United Pharm Inc		535
	10,514	*	Krystal Biotech Inc		453

120

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	278,491	*	Kura Oncology, Inc	$	8,533
	25,496		Kwang Dong Pharmaceutical Co Ltd		213
	48,581		Kyorin Co Ltd		985
	113,870		Kyowa Hakko Kogyo Co Ltd		3,240
	4,359		L&C Bio Co Ltd		507
	77,330	*,e	La Jolla Pharmaceutical Co		312
	78,634		Laboratorios Almirall S.A.		881
	59,714	*,e	Lannett Co, Inc		365
	191,000		Lee’s Pharmaceutical Holdings Ltd		123
	13,686	*	LegoChem Biosciences, Inc		685
	73,607	*,e	Lexicon Pharmaceuticals, Inc		106
	18,758	*,e	Ligand Pharmaceuticals, Inc (Class B)		1,788
	30,780	*,e	Liquidia Technologies, Inc		151
	23,400		Livzon Pharmaceutical Group, Inc		170
	10,900	*,e	LogicBio Therapeutics, Inc		99
	450,175		Lonza Group AG.		277,819
	81,000	*	Lotus Pharmaceutical Co Ltd		227
	97,775		Luminex Corp		2,567
	213,783		Lupin Ltd		2,923
	925,000	e,g	Luye Pharma Group Ltd		540
	270,756	*	MacroGenics, Inc		6,820
	7,852	*,e	Madrigal Pharmaceuticals, Inc		932
	81,213	*,e	Magenta Therapeutics, Inc		552
	178,309	*,e	MannKind Corp		335
	24,704	*,e	Marinus Pharmaceuticals, Inc		317
	26,231	*,e	Marker Therapeutics Inc		39
	3,901,337	*	Mayne Pharma Group Ltd		1,097
	48,655	*,e	MediciNova, Inc		255
	72,710	*	Medpace Holdings, Inc		8,125
	10,653	*	MedPacto, Inc		1,030
	4,185		Medy-Tox, Inc		757
	294,130		Mega Lifesciences PCL		323
	92,637	*	MEI Pharma, Inc		289
	44,781	*,e	MeiraGTx Holdings plc		593
	7,321,124		Merck & Co, Inc		607,287
	19,140		Merck KGaA		2,790
	3,686		Merck Ltd		251
	93,569	*	Mersana Therapeutics, Inc		1,742
	519,905	*,e	Mesoblast Ltd		1,919
	37,298	*	Mettler-Toledo International, Inc		36,021
	6,259	*	Mezzion Pharma Co Ltd		897
	28,401	*,e	Minerva Neurosciences, Inc		90
	53,916	*	Mirati Therapeutics, Inc		8,953
	10,626	*,e	Mirum Pharmaceuticals, Inc		205
	16,004	*,e	Mithra Pharmaceuticals S.A.		324
	26,375		Mochida Pharmaceutical Co Ltd		1,042
	61,615	*	Moderna, Inc		4,359
	24,575	*,e	Molecular Partners AG.		427
	87,934	*	Molecular Templates, Inc		960
	240,885	*	Momenta Pharmaceuticals, Inc		12,642
	12,401	*,e	Morphic Holding, Inc		339
	43,794	*	Morphosys AG.		5,542
	98,400	*,e	Mustang Bio, Inc		310
	66,910	*	Mylan NV		992

121

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	68,245	*	MyoKardia, Inc	$	9,304
	111,054	*,e	Myriad Genetics, Inc		1,448
	77,930		Nanjing King-Friend Biochemical Pharmaceutical Co Ltd		514
	111,617	*,e	NanoString Technologies, Inc		4,989
	25,430	*,e	NantKwest, Inc		176
	85,255		Natco Pharma Ltd		1,101
	268,361	*	Natera, Inc		19,386
	205,967	*,e	Nektar Therapeutics		3,417
	185,065	*	NeoGenomics, Inc		6,827
	53,731	*,e	Neoleukin Therapeutics, Inc		645
	98,677	*,e	Neubase Therapeutics, Inc		749
	4,261	*,e	NeuroBo Pharmaceuticals, Inc		24
	212,982	*	Neurocrine Biosciences, Inc		20,480
	15,016	*,e	NextCure Inc		132
	22,082	*,e	NGM Biopharmaceuticals Inc		351
	51,702	e	Nichi-iko Pharmaceutical Co Ltd		588
	42,500		Nippon Shinyaku Co Ltd		3,499
	14,260	*	Nkarta, Inc		429
	1,884,261		Novartis AG.		163,600
	164,492	*,e	Novavax, Inc		17,823
	1,851,078		Novo Nordisk AS		128,251
	21,154	*	Nurix Therapeutics, Inc		738
	34,168	*,e	Nymox Pharmaceutical Corp		84
	122,963	*	OBI Pharma, Inc		478
	99,868	*,e	Ocular Therapeutix, Inc		760
	11,771	*,e	Odonate Therapeutics, Inc		158
	93,690	*,e	Omeros Corp		947
	83,554	*,e	Oncocyte Corp		116
	52,788	*,e,g	Oncopeptides AB		776
	253,000	*	Oneness Biotech Co Ltd		3,010
	509,020		Ono Pharmaceutical Co Ltd		16,011
	645,622	*,e	Opko Health, Inc		2,382
	130,257	*,e	Optinose, Inc		508
	192,217	*,e	Organigram Holdings, Inc		204
	11,303	*,e	Organogenesis Holdings Inc		43
	29,661	*,e	Orgenesis, Inc		150
	7,699	*	ORIC Pharmaceuticals, Inc		193
	23,726		Orion Oyj (Class B)		1,075
	18,730	*	Oscotec, Inc		734
	31,000	*,e	Osmotica Pharmaceuticals plc		168
	144,680		Otsuka Holdings KK		6,129
	37,892	*,e	Ovid therapeutics, Inc		218
	60,661	*	Oxford Biomedica plc		642
	21,972	*,e	Oyster Point Pharma, Inc		464
	200,227	*	Pacific Biosciences of California, Inc		1,976
	107,777	*	Pacira BioSciences Inc		6,480
	1,430,184	*	Paion AG.		3,893
	5,161	*	Pandion Therapeutics, Inc		59
	68,335	*,e	Paratek Pharmaceuticals, Inc		370
	30,210	*	Passage Bio, Inc		396
	202,604	*,e	PDL BioPharma, Inc		638
	29,200	*	PeptiDream, Inc		1,370
	51,714	*	PerkinElmer, Inc		6,491

122

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,168,715		Perrigo Co plc	$	53,656
	20,302	*	Personalis, Inc		440
	12,021,204		Pfizer, Inc		441,178
	24,929	e	Pharma Mar S.A.		3,163
	3,921		PHARMA RESEARCH PRODUCTS Co Ltd		207
	89,472		PharmaEngine Inc		190
	157,480	*	PharmaEssentia Corp		546
	69,951	†	Pharmally International Holding Co Ltd		68
	54,120	*	Pharmicell Co Ltd		837
	722,365	*,e	Pharming Group NV		805
	30,728	*,e	PhaseBio Pharmaceuticals Inc		108
	28,394	*,e	Phathom Pharmaceuticals, Inc		1,041
	81,583		Phibro Animal Health Corp		1,420
	37,111	*,e	Pieris Pharmaceuticals, Inc		77
	1,900,579		Piramal Healthcare Ltd		32,387
	7,496	*	Pliant Therapeutics, Inc		170
	9,463	*	Poseida Therapeutics, Inc		84
	108,414	*	PRA Health Sciences, Inc		10,998
	80,716	*,e	Precision BioSciences Inc		497
	102,262	*	Prestige Consumer Healthcare, Inc.		3,724
	67,217	*	Prevail Therapeutics, Inc		684
	83,715	*,†	Progenics Pharmaceuticals, Inc		0
	24,813	*	Protagonist Therapeutics, Inc		485
	110,222	*	Prothena Corp plc		1,101
	37,260	*,e	Provention Bio, Inc		478
	10,904,831		PT Kalbe Farma Tbk		1,139
	70,606	*	PTC Therapeutics, Inc		3,301
	47,332	*	Puma Biotechnology, Inc		478
	37,890	*,e	QIAGEN NV		1,980
	30,325	*	QIAGEN NV (Turquoise)		1,575
	67,970	*	Quanterix Corp		2,293
	125,503	*	Radius Health, Inc		1,423
	9,692	*,e	RAPT Therapeutics, Inc		312
	42,988	*,e	Reata Pharmaceuticals, Inc		4,188
	184,362	e	Recipharm AB (B Shares)		3,199
	89,671		Recordati S.p.A.		4,593
	17,742	*,e	Recro Pharma, Inc		37
	546,713	*	Regeneron Pharmaceuticals, Inc		306,039
	26,690	*	REGENXBIO, Inc		735
	28,990	*	Relay Therapeutics, Inc		1,235
	10,791	*,e	Relmada Therapeutics, Inc		406
	76,539	*	Repligen Corp		11,293
	60,952	*	Replimune Group, Inc		1,403
	86,614	*	Retrophin, Inc		1,599
	63,698	*,e	Revance Therapeutics, Inc		1,601
	48,059	*	REVOLUTION Medicines, Inc		1,672
	33,238	*	Rhythm Pharmaceuticals, Inc		720
	120,123		Richter Gedeon Rt		2,536
	304,983	*	Rigel Pharmaceuticals, Inc		732
	1,147,734		Roche Holding AG.		393,145
	29,447	*	Rocket Pharmaceuticals, Inc		673
	94,032		Royalty Pharma plc		3,956
	55,329	*,e	Rubius Therapeutics, Inc		277
	62,090	*	Sage Therapeutics, Inc		3,795

123

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	12,028		Sam Chun Dang Pharm Co Ltd	$	563
	7,557		Samjin Pharmaceutical Co Ltd		186
	37,588	*,g	Samsung Biologics Co Ltd		22,160
	32,024	*,e	SanBio Co Ltd		625
	273,380	*	Sangamo Therapeutics Inc		2,583
	5,076		Sanofi India Ltd		596
	2,484,443		Sanofi-Aventis		248,971
	541,730		Santen Pharmaceutical Co Ltd		11,076
	185,515	*	Sarepta Therapeutics, Inc		26,052
	54,493		Sartorius Stedim Biotech		18,809
	31,467	*,e	Satsuma Pharmaceuticals, Inc		122
	58,546		Saudi Pharmaceutical Industries & Medical Appliances Corp		572
	43,517		Sawai Pharmaceutical Co Ltd		2,196
	41,098	*,e	Scholar Rock Holding Corp		727
	54,680	*,e	Schrodinger, Inc		2,598
	227,960		Scinopharm Taiwan Ltd		235
	5,131	*	scPharmaceuticals, Inc		38
	52,495		Searle Co Ltd		81
	773,411	*,e	Seattle Genetics, Inc		151,349
	17,067		Seegene, Inc		3,800
	38,000		Seikagaku Corp		400
	87,964	*,e	Selecta Biosciences, Inc		218
	77,791	*,e	Seres Therapeutics, Inc		2,202
	16,700		Shandong Buchang Pharmaceuticals Co Ltd		61
	61,100		Shanghai Fosun Pharmaceutical Group Co Ltd		442
	516,751		Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		2,163
	218,000		Shanghai Fudan-Zhangjiang Bio-Pharmaceutical Co Ltd		108
	361,600		Shanghai Haixin Group Co		123
	38,741	g	Shanghai Haohai Biological Technology Co Ltd		258
	173,600		Shanghai RAAS Blood Products Co Ltd		210
	25,800		Shenzhen Hepalink Pharmaceutical Group Co Ltd		86
	68,100		Shenzhen Kangtai Biological Products Co Ltd		1,826
	35,100		Shenzhen Salubris Pharmaceuticals Co Ltd		178
	74,800		Shijiazhuang Yiling Pharmaceutical Co Ltd		296
	27,510		Shilpa Medicare Ltd		209
	26,598	*	Shin Poong Pharmaceutical Co Ltd		2,866
	102,732		Shionogi & Co Ltd		5,499
	31,200		Sichuan Kelun Pharmaceutical Co Ltd		102
	4,326		Siegfried Holding AG.		2,959
	50,538	*	SIGA Technologies, Inc		347
	3,402,000		Sihuan Pharmaceutical Holdings		367
	32,473	*	Silence Therapeutics plc		183
	13,434	*,†,e	SillaJen, Inc		70
	6,277,710		Sino Biopharmaceutical		6,874
	65,390	*,e	Soleno Therapeutics, Inc		164
	27,368	*,e	Solid Biosciences, Inc		56
	312,188	*,e	Sorrento Therapeutics, Inc		3,481
	77,908	*,e	Sosei Group		1,021
	228,581	*	Spectrum Pharmaceuticals, Inc		933
	11,402	*,e	Spero Therapeutics, Inc		127
	26,707	*	SpringWorks Therapeutics, Inc		1,273

124

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	872,000		SSY Group Ltd	$	497
	7,541		ST Pharm Co Ltd		457
	23,769	*	STCUBE		164
	9,296	*,e	Stoke Therapeutics, Inc		311
	41,815		Strides Arcolab Ltd		408
	159,913	*	Strongbridge Biopharma plc		336
	14,212	e	Sumitomo Dainippon Pharma Co Ltd		187
	60,338	*	Sun Pharma Advanced Research Company Ltd		142
	725,999		Sun Pharmaceutical Industries Ltd		4,937
	144,188	*	Supernus Pharmaceuticals, Inc		3,005
	52,613	*,e	Sutro Biopharma, Inc		529
	118,414	*,e	Syndax Pharmaceuticals, Inc		1,748
	100,082	*	Syneos Health, Inc		5,320
	92,121	g	Syngene International Ltd		693
	68,236	*,e	Syros Pharmaceuticals, Inc		603
	259,799	*	Taigen Biopharmaceuticals Holdings Ltd		197
	27,027	*,e	Taiko Pharmaceutical Co Ltd		580
	162,000	*	TaiMed Biologics, Inc		518
	2,722		Taisho Pharmaceutical Holdings Co Ltd		179
	52,833		Takara Bio, Inc		1,436
	1,415,811		Takeda Pharmaceutical Co Ltd		50,605
	101,124	*	Tanvex BioPharma, Inc		140
	40,365	*	TCR2 Therapeutics Inc		820
	13,172		Tecan Group AG.		6,551
	723,730	*	Teva Pharmaceutical Industries Ltd (ADR)		6,521
	198,619	*	TG Therapeutics, Inc		5,315
	24,401	*	Theragen Etex Co Ltd		233
	205,055	*,e	TherapeuticsMD, Inc		324
	58,956	*	Theravance Biopharma, Inc		872
	651,222		Thermo Fisher Scientific, Inc		287,528
	66,400		Tianjin Chase Sun Pharmaceutical Co Ltd		53
	505,000		Tong Ren Tang Technologies Co Ltd		321
	131,600		Tonghua Dongbao Pharmaceutical Co Ltd		264
	14,565		Torii Pharmaceutical Co Ltd		412
	46,088		Torrent Pharmaceuticals Ltd		1,751
	26,913		Towa Pharmaceutical Co Ltd		540
	113,486	*,e	Translate Bio, Inc		1,545
	25,643	*,e	Tricida, Inc		232
	63,100		Tsumura & Co		1,966
	192,917		TTY Biopharm Co Ltd		445
	48,673	*,e	Turning Point Therapeutics Inc		4,252
	81,536	*	Twist Bioscience Corp		6,194
	58,990	*,e	Tyme Technologies, Inc		58
	158,805		UCB S.A.		18,036
	87,169	*	Ultragenyx Pharmaceutical, Inc		7,164
	3,331,562		United Laboratories Ltd		3,446
	176,422	*	United Therapeutics Corp		17,819
	26,076	*,e	UNITY Biotechnology, Inc		90
	74,467	*,e	UroGen Pharma Ltd		1,436
	86,899	*	Vanda Pharmaceuticals, Inc		839
	47,231	*,e	Vaxart, Inc		314
	22,705	*	Vaxcyte, Inc		1,121
	297,218	*,e	VBI Vaccines, Inc		850
	679,344		Vectura Group plc		903

125

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	202,228	*	Veracyte, Inc	$	6,570
	207,679	*,e	Verastem, Inc		251
	130,566	*	Vericel Corp		2,419
	13,095	*,e	Verrica Pharmaceuticals, Inc		101
	10,701	*,e	Versartis, Inc		50
	724,170	*	Vertex Pharmaceuticals, Inc		197,061
	29,898	*,e	Viela Bio, Inc		840
	33,010		Vifor Pharma AG.		4,490
	208,854	*,e	Viking Therapeutics, Inc		1,216
	95,238	*,e	Vir Biotechnology, Inc		3,270
	8,912	*	Virbac S.A.		2,065
	62,935	*,e	ViroMed Co Ltd		1,911
	74,740		Vitrolife AB		2,039
	23,587	*	Voyager Therapeutics, Inc		252
	10,547	*,e	vTv Therapeutics, Inc		19
	259,818	*,e	VYNE Therapeutics, Inc		431
	125,200		Walvax Biotechnology Co Ltd		939
	9,693	*	Waters Corp		1,897
	23,175	*,e	WaVe Life Sciences Ltd		197
	2,888,000		Winteam Pharmaceutical Group Ltd		1,214
	31,049	*	Wockhardt Ltd		124
	121,080		WuXi AppTec Co Ltd		1,814
	142,794	e,g	WuXi AppTec Co Ltd (Hong Kong)		2,065
	4,292,627	*,g	Wuxi Biologics Cayman, Inc		105,204
	35,166	*	X4 Pharmaceuticals, Inc		238
	22,687	*,e	XBiotech, Inc		433
	135,268	*	Xencor, Inc		5,247
	45,464	*,e	Xeris Pharmaceuticals, Inc		270
	12,007	*,e	XOMA Corp		226
	1,420,704	e,g	YiChang HEC ChangJiang Pharmaceutical Co Ltd		1,817
	68,200		Yifan Pharmaceutical Co Ltd		251
	24,795	*,e	Y-mAbs Therapeutics, Inc		952
	23,466		Yuhan Corp		1,289
	80,935	*	Yungjin Pharmaceutical Co Ltd		561
	157,707		YungShin Global Holding Corp		235
	78,100		Yunnan Baiyao Group Co Ltd		1,173
	70,700	*	Zai Lab Ltd (ADR)		5,880
	32,748	*	Zealand Pharma AS		1,243
	9,128	*,e	Zentalis Pharmaceuticals, Inc		298
	26,800		Zeria Pharmaceutical Co Ltd		513
	18,900		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		678
	123,300		Zhejiang Conba Pharmaceutical Co Ltd		95
	45,870		Zhejiang Huahai Pharmaceutical Co Ltd		217
	68,000		Zhejiang NHU Co Ltd		299
	23,200		Zhejiang Wolwo Bio-Pharmaceutical Co Ltd		192
	199,316	*,e	ZIOPHARM Oncology, Inc		502
	1,485,341		Zoetis, Inc		245,631
	207,148	*	Zogenix, Inc		3,714
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		9,033,760
REAL ESTATE - 3.0%
	399,569		Abacus Property Group		837
	129,507		Acadia Realty Trust		1,360
	900	*	Activia Properties Inc		3,428

126

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	145,758	g	ADO Properties S.A.	$	4,033
	1,461	*,e	Advance Residence Investment Corp		4,304
	126,754	*,g	Aedas Homes SAU		2,722
	35,329		Aedifica S.A.		4,315
	72,254		Aeon Mall Co Ltd		1,016
	1,645	*	AEON REIT Investment Corp		1,895
	29,851	*	Africa Israel Properties Ltd		724
	1,181,791		Agile Property Holdings Ltd		1,557
	167,197		Agree Realty Corp		10,640
	553,800		AIMS AMP Capital Industrial REIT		489
	81,234	*	Airport City Ltd		848
	2,062,573		Aldar Properties PJSC		1,138
	417,071		Alexander & Baldwin, Inc		4,675
	3,247		Alexander’s, Inc		796
	229,073		Alexandria Real Estate Equities, Inc		36,652
	127,822		Aliansce Sonae Shopping Centers sa		540
	71,048		Allied Properties Real Estate Investment Trust		1,913
	15,963		Allreal Holding AG.		3,439
	161,336		Alony Hetz Properties & Investments Ltd		1,586
	28,956	e	Alpine Income Property Trust, Inc		450
	177,751		Alstria Office REIT-AG.		2,472
	7,224	*,e	Altisource Portfolio Solutions S.A.		92
	44,133		Altus Group Ltd		1,834
	740,298		Amata Corp PCL (Foreign)		297
	181,038		American Assets Trust, Inc		4,361
	65,969		American Campus Communities, Inc		2,304
	237,994		American Finance Trust, Inc		1,492
	933,463		American Homes 4 Rent		26,585
	2,409	*,e	American Realty Investors, Inc		22
	947,517		American Tower Corp		229,043
	359,418		Americold Realty Trust		12,849
	245,609		Amot Investments Ltd		1,122
	237,000	e	Aoyuan Healthy Life Group Co Ltd		193
	24,264		Apartment Investment & Management Co		818
	30,413	*	Apple Hospitality REIT, Inc		292
	907,961		Argosy Property Ltd		821
	246,116		Armada Hoffler Properties, Inc		2,279
	3,098,147	e	Aroundtown S.A.		15,552
	82,182		Arriyadh Development Co		367
	72,917		Artis Real Estate Investment Trust		435
	912,300		Ascendas India Trust		923
	3,153,301		Ascendas REIT		7,546
	1,987,204		Ascott Trust		1,309
	2,229,932		Asian Property Development PCL (Foreign)		406
	5,154,529		Assura Group Ltd		5,131
	51,726		Atrium Ljungberg AB		844
	530,927		Attacq Ltd		95
	439,143		AvalonBay Communities, Inc		65,582
	376,078		Aventus Retail Property Fund Ltd		640
	1,123,300		Axis Real Estate Investment Trust		584
	7,700,552		Ayala Land, Inc		4,739
	4,761,352	*,†	AZ BGP Holdings		14
	5,399		Azrieli Group		241
	9,554,200		Bangkok Land PCL		299

127

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,045,831		Barwa Real Estate Co	$	1,007
	3,547		Bayside Land Corp		2,049
	38,717		Befimmo SCA Sicafi		1,731
	183,200		Beijing Capital Development Co Ltd		181
	1,184,809		Beijing Capital Land Ltd		203
	1,038,000		Beijing North Star Co		196
	7,100		Big Shopping Centers Ltd		528
	337,750		Big Yellow Group plc		4,527
	2,547	*	BLife Investment Corp		6,499
	5,876		Blue Square Real Estate Ltd		227
	38,012		Bluerock Residential Growth REIT, Inc		288
	847,861		BMO Commercial Property Trust Ltd		706
	24,867		Boardwalk REIT		513
	245,448		Boston Properties, Inc		19,709
	742,600		BR Malls Participacoes S.A.		1,108
	210,596		BR Properties S.A.		337
	2,561	*	Brack Capital Properties NV		190
	22,569		Brandywine Realty Trust		233
	267,008		British Land Co plc		1,164
	203,963		Brixmor Property Group, Inc		2,384
	82,321	e	Brookfield Property REIT, Inc		1,008
	14,868	e	Brt Realty Trust		175
	1,063,310		Bunnings Warehouse Property Trust		3,094
	275,417		C&D International Investment Group Ltd		469
	71,840		CA Immobilien Anlagen AG.		2,124
	1,105,052		Cache Logistics Trust		504
	2,391,216		Cambridge Industrial Trust		680
	238,698		Camden Property Trust		21,239
	77,704		Canadian Apartment Properties REIT		2,711
	2,501,905		CapitaCommercial Trust		3,034
	815,258		Capital & Counties Properties		1,175
	4,239,738	e	CapitaLand Ltd		8,477
	2,412,524		CapitaMall Trust		3,434
	843,887		CapitaRetail China Trust		691
	564,228		CareTrust REIT, Inc		10,040
	50,970		Carmila S.A.		463
	274,613		Castellum AB		6,238
	73,536		CatchMark Timber Trust, Inc		657
	26,924		Catena AB		1,192
	469,900		Cathay Real Estate Development Co Ltd		317
	557,703	*,e	CBRE Group, Inc		26,195
	888,020		CDL Hospitality Trusts		691
	68,011		Cedar Woods Properties Ltd		282
	447,096		Cencosud Shopping S.A.		640
	1,094,968		Central China Real Estate Ltd		505
	2,041,658		Central Pattana PCL (Foreign)		2,754
	464,526		Centuria Industrial REIT		1,041
	434,122		Centuria Office REIT		636
	2,210,806		Champion Real Estate Investment Trust		1,100
	355,045		Charter Hall Education Trust		724
	663,453		Charter Hall Group		5,953
	517,414		Charter Hall Long Wale REIT		1,871
	79,631		Chatham Lodging Trust		607
	1,139,000		China Aoyuan Group Ltd		1,174

128

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,779,663	e	China Evergrande Group	$	4,567
	172,470		China Fortune Land Development Co Ltd		386
	825,000	*,e,g	China Logistics Property Holdings Co Ltd		374
	664,000		China Merchants Commercial Real Estate Investment Trust		201
	1,084,000		China Merchants Land Ltd		155
	52,800		China Merchants Property Operation & Service Co Ltd		205
	303,067		China Merchants Shekou Industrial Zone Holdings Co Ltd		678
	4,657,794		China Overseas Grand Oceans Group Ltd		2,678
	4,548,969		China Overseas Land & Investment Ltd		11,491
	1,200,000		China Overseas Property Holdings Ltd		988
	3,084,622		China Resources Land Ltd		14,068
	1,575,452		China SCE Group Holdings Ltd		710
	3,830,000		China South City Holdings Ltd		353
	1,687,657		China Vanke Co Ltd		5,188
	2,439,813		China Vanke Co Ltd (Class A)		10,094
	431,000	g	China Vast Industrial Urban Development Co Ltd		181
	547,000	e	Chinese Estates Holdings Ltd		301
	481,924		Chip Eng Seng Corp Ltd		155
	365,088		Chong Hong Construction Co		1,013
	31,306	e	Cibus Nordic Real Estate AB		572
	2,911,845		CIFI Holdings Group Co Ltd		2,163
	12,143		CIM Commercial Trust Corp		120
	421,153		City Developments Ltd		2,371
	98,290		City Office REIT, Inc		739
	70,945	e	Citycon Oyj		559
	742,402		Civitas Social Housing plc		1,011
	2,510,176		CK Asset Holdings Ltd		12,334
	10,647		Clipper Realty, Inc		64
	27,341		Cofinimmo		4,111
	33,722	e	Colliers International Group, Inc		2,246
	793,630		Colony Capital, Inc		2,167
	281,000	e	Colour Life Services Group		132
	297,458		Columbia Property Trust, Inc		3,245
	689	*	Comforia Residential REIT, Inc		2,009
	97,881		Cominar Real Estate Investment Trust		540
	29,375		Community Healthcare Trust, Inc		1,374
	632,134		Concentradora Fibra Danhos S.A. de C.V.		579
	188,745		CoreCivic, Inc		1,510
	32,837	e	CorEnergy Infrastructure Trust, Inc		192
	71,627		CorePoint Lodging, Inc		390
	59,921		Coresite Realty		7,123
	19,252	e	Corestate Capital Holding S.A.		377
	1,101,656		Corp Inmobiliaria Vesta SAB de C.V.		1,660
	15,871		Corporate Office Properties Trust		376
	1,148,000	*,e	Cosmopolitan International Holdings Ltd		231
	7,364,891		Country Garden Holdings Co Ltd		9,119
	210,195		Cousins Properties, Inc		6,009
	2,912	*	CRE Logistics REIT, Inc		4,327
	970	*	Crescendo Investment Corp		1,072
	50,033		Crombie Real Estate Investment Trust		495
	1,356,500		Cromwell European Real Estate Investment Trust		775
	1,766,830	e	Cromwell Group		1,082

129

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	980,303		Crown Castle International Corp	$	163,220
	5,062,847		CSI Properties Ltd		153
	55,691		CT Real Estate Investment Trust		584
	7,734	e	CTO Realty Growth, Inc		341
	118,295		CubeSmart		3,822
	143,764	*,e	Cushman & Wakefield plc		1,511
	452,505		Custodian Reit plc		518
	421,706		CyrusOne, Inc		29,532
	359	*	DA Office Investment Corp		2,054
	230,000		DaFa Properties Group Ltd		204
	52,710		Daibiru Corp		614
	51,073		Daito Trust Construction Co Ltd		4,527
	474,025		Daiwa House Industry Co Ltd		12,157
	1,776,827	*	DAMAC Properties Dubai Co PJSC		449
	289,992	*	Dar Al Arkan Real Estate Development Co		726
	143,229		Derwent London plc		4,742
	224,270		Deutsche Annington Immobilien SE		15,374
	52,867		Deutsche Euroshop AG.		656
	85,427		Deutsche Wohnen AG.		4,270
	715,000		Dexin China Holdings Co Ltd		268
	1,014,043		Dexus Property Group		6,495
	1,271,992	*	Deyaar Development PJSC		100
	320,160		DiamondRock Hospitality Co		1,623
	103,457		DIC Asset AG.		1,242
	473,473		Digital Realty Trust, Inc		69,487
	105,880		Dios Fastigheter AB		749
	1,155,877		Diversified Healthcare Trust		4,069
	273,332		DLF Ltd		568
	40,177		Dongwon Development Co Ltd		137
	654,630	*	DoubleDragon Properties Corp		189
	106,555		Douglas Emmett, Inc		2,675
	81,836		Dream Industrial Real Estate Investment Trust		695
	29,693		Dream Office Real Estate Investment Trust		405
	32,409		DREAM Unlimited Corp		473
	76,267		Duke Realty Corp		2,814
	437,000	†	Eagle Hospitality Trust		4
	127,396		Easterly Government Properties, Inc		2,855
	46,293		EastGroup Properties, Inc		5,987
	799,900	*	Eco World Development Group BHD		77
	443,700		E-House China Enterprise Holdings Ltd		509
	196,543	*	Emaar Economic City		528
	1,369,100		Emaar Malls Group PJSC		560
	1,679,711		Emaar Properties PJSC		1,290
	1,571,167		Emlak Konut Gayrimenkul Yatiri		350
	1,127,258		Emperor International Holdings		169
	15,076		Empire State Realty Trust, Inc		92
	1,081,603		Empiric Student Property plc		851
	192,889	e,g	Entra ASA		2,711
	11,964		EPR Properties		329
	194,264		Equinix, Inc		147,666
	532,402		Equites Property Fund Ltd		540
	79,243		Equity Commonwealth		2,110
	907,176		Equity Lifestyle Properties, Inc		55,610
	618,318		Equity Residential		31,738

130

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	157,648		Essential Properties Realty Trust, Inc	$	2,888
	64,068		Essex Property Trust, Inc		12,864
	44,955		Eurocommercial Properties NV		521
	97,293	*,e	eXp World Holdings Inc		3,925
	228,069		Extra Space Storage, Inc		24,401
	295,035		Fabege AB		4,080
	1,168,238		Fantasia Holdings Group Co Ltd		228
	1,372,269		Far East Consortium		386
	889,405		Far East Hospitality Trust		362
	223,812		Farglory Land Development Co Ltd		353
	29,842	e	Farmland Partners, Inc		199
	144,763	*	Fastighets AB Balder		7,334
	4,282	*	Fathom Holdings, Inc		67
	11,555		Federal Realty Investment Trust		849
	2,937,706		Fibra Uno Administracion S.A. de C.V.		2,324
	7,435,000		Filinvest Land, Inc		140
	72,600		Financial Street Holdings Co Ltd		70
	117,039		First Capital Real Estate Investment Trust		1,139
	244,709		First Industrial Realty Trust, Inc		9,739
	722,270		First Real Estate Investment Trust		231
	40,379		FirstService Corp		5,329
	38,085		Fonciere Des Regions		2,674
	26,489	*,e	Forestar Group, Inc		469
	1,147,528	e	Fortress REIT Ltd (Class A)		894
	1,594,000		Fortune Real Estate Investment Trust		1,342
	105,177		Four Corners Property Trust, Inc		2,691
	167,100		Franklin Street Properties Corp		612
	5,417,125		Franshion Properties China Ltd		3,016
	841,277	e	Frasers Centrepoint Trust		1,487
	875,600		Frasers Hospitality Trust		278
	6,475,445		Frasers Logistics & Industrial Trust		6,630
	264,425		Front Yard Residential Corp		2,311
	512	*	Frontier Real Estate Investment Corp		1,744
	12,870	*	FRP Holdings, Inc		536
	761	*	Fukuoka REIT Corp		988
	107,787		Future Land Holdings Co Ltd		556
	412,910		Gaming and Leisure Properties, Inc		15,249
	329,549		Gateway Real Estate AG.		1,314
	159,103		Gazit Globe Ltd		643
	11,674		Gazit, Inc		51
	1,032,213		GCP Student Living plc		1,643
	920,362		GDI Property Group		696
	10,093		Gecina S.A.		1,330
	186,100		Gemdale Corp		400
	12,944,937		Gemdale Properties and Investment Corp Ltd		2,207
	188,438		Geo Group, Inc		2,137
	106,353		Getty Realty Corp		2,766
	100,488		Gladstone Commercial Corp		1,693
	27,222		Gladstone Land Corp		409
	75,894		Global Medical REIT, Inc		1,025
	166,359		Global Net Lease, Inc		2,645
	1,036	*	Global One Real Estate Investment Corp		997
	2,580	*	GLP J-Reit		3,971
	55,548	*	Godrej Properties Ltd		650

131

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	100,780	e	Goldcrest Co Ltd	$	1,322
	1,626,810		Goodman Group		21,063
	1,248,568		Goodman Property Trust		1,947
	1,814,593		GPT Group		5,105
	704,000	*	GR Properties Ltd		111
	844,979		Grainger plc		3,233
	168,334		Grand City Properties S.A.		4,065
	69,440		Granite REIT		4,030
	1,155,060		Great Portland Estates plc		8,913
	404,000		Greenland Holdings Corp Ltd		380
	691,000		Greenland Hong Kong Holdings Ltd		214
	2,313	e	Griffin Land & Nurseries, Inc (Class A)		124
	304,190		Growthpoint Properties Australia Ltd		734
	1,505,980		Growthpoint Properties Ltd		1,101
	1,332,813		Guangzhou R&F Properties Co Ltd		1,726
	281,867		Guocoland Ltd		310
	1,031,000		Guorui Properties Ltd		113
	193,254		H&R Real Estate Investment Trust		1,403
	67,694		Hamborner AG.		691
	4,316,850	*,e	Hammerson plc		909
	984,442		Hang Lung Group Ltd		2,250
	2,284,341		Hang Lung Properties Ltd		5,822
	625	*	Hankyu Reit, Inc		728
	305,706		Healthcare Realty Trust, Inc		9,208
	418,705		Healthcare Trust of America, Inc		10,886
	992,314		Healthpeak Properties Inc		26,941
	37,122		Heiwa Real Estate Co Ltd		1,026
	121,860		Helical Bar plc		465
	369,640		Heliopolis Housing		138
	35,794	*,†	Hemisphere Properties India Ltd		81
	1,495,445		Henderson Land Development Co Ltd		5,553
	67,605		Hersha Hospitality Trust		375
	37,469,436	a	Hibernia REIT plc		43,766
	659,113		Highwealth Construction Corp		985
	15,065		Highwoods Properties, Inc		506
	160,880	e	HKC Holdings Ltd		86
	1,338,297		Hongkong Land Holdings Ltd		4,986
	236	*,e	Hoshino Resorts REIT, Inc		1,190
	1,352,045		Host Hotels and Resorts, Inc		14,589
	51,729	*	Howard Hughes Corp		2,980
	723,393		Huaku Development Co Ltd		2,163
	296,931		Hudson Pacific Properties		6,512
	123,531		Hufvudstaden AB (Series A)		1,716
	792,000	e	Huijing Holdings Co Ltd		226
	291,455		Hulic Co Ltd		2,735
	1,697	*	Hulic Reit, Inc		2,249
	417,640		Hung Sheng Construction Co Ltd		256
	736,696		Hysan Development Co Ltd		2,216
	8,835	e	Icade		495
	270,125		Ichigo Holdings Co Ltd		788
	1,379	*	Ichigo Real Estate Investment Corp		1,002
	1,495,300		IGB Real Estate Investment Trust		655
	79,368		Iguatemi Empresa de Shopping Centers S.A.		435
	61,748	e	Immobiliare Grande Distribuzione SIIQ S.p.A		215

132

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	88,356	e	IMMOFINANZ AG.	$	1,395
	148,911		Independence Realty Trust, Inc		1,726
	171,602	*	Indiabulls Real Estate Ltd		120
	1,879	*	Industrial & Infrastructure Fund Investment Corp		3,220
	1,047,909		Industrial Buildings Corp		1,952
	252,920		Industrial Logistics Properties Trust		5,531
	2,711,786		Ingenia Communities Group		8,933
	311,052		Inmobiliaria Colonial S.A.		2,567
	46,359	e	Innovative Industrial Properties, Inc		5,754
	72,608		InterRent Real Estate Investment Trust		687
	1,394		Intershop Holding AG.		901
	22,419	e	Intervest Offices		593
	9,990	*	Invesco Office J-Reit, Inc		1,384
	606,182		Investec Australia Property Fund		562
	495,476		Investec Property Fund Ltd		270
	19,913		Investors Real Estate Trust		1,298
	13,191	*	Invincible Investment Corp		3,940
	1,389,033		Invitation Homes, Inc		38,879
	1,190,800		IOI Properties Group BHD		260
	499,361		Irish Residential Properties REIT plc		826
	429,084		Iron Mountain, Inc		11,495
	23,498	*,e	IRSA Inversiones y Representaciones S.A. (ADR)		66
	112,340		iStar Inc		1,327
	464	*	ITOCHU Advance Logistics Investment Corp		649
	849,010		IWG plc		2,841
	84,608		Jadwa REIT Saudi Fund		310
	1,369	*	Japan Excellent, Inc		1,598
	4,997		Japan Hotel REIT Investment Corp		2,469
	956	*	Japan Logistics Fund Inc		2,741
	1,246	*	Japan Prime Realty Investment Corp		3,866
	1,046	*	Japan Real Estate Investment Corp		5,348
	4,952	*	Japan Rental Housing Investments, Inc		5,117
	1,861	*	Japan Retail Fund Investment Corp		2,879
	12,666		JBG SMITH Properties		339
	39,699		Jernigan Capital, Inc		680
	236,090		JHSF Participacoes S.A.		294
	1,596,750	*,†	Jiangsu Future Land Co Ltd		8,859
	94,100		Jiangsu Zhongnan Construction Group Co Ltd		127
	1,788,000		Jiayuan International Group Ltd		745
	414,269		Jingrui Holdings Ltd		113
	174,200		Jinke Properties Group Co Ltd		233
	14,228	*,e	John Mattson Fastighetsforetagen AB		243
	43,977		Jones Lang LaSalle, Inc		4,207
	350,000		JY Grandmark Holdings Ltd		143
	2,483,329		K Wah International Holdings Ltd		1,200
	2,384,000		Kaisa Group Holdings Ltd		1,227
	49,500	e	Kaisa Prosperity Holdings Ltd		151
	519,152		Katitas Co Ltd		14,753
	682,700	*	KE Holdings, Inc (ADR)		41,849
	35,500		Keihanshin Building Co Ltd		576
	514	*	Kenedix Realty Investment Corp		3,083
	1,034	*	Kenedix Residential Investment Corp		1,828
	277	*	Kenedix Retail REIT Corp		559
	775,720		Kenedix, Inc		4,085

133

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	436,347		Kennedy-Wilson Holdings, Inc	$	6,336
	1,451,017		Keppel DC REIT		3,101
	848,114		Keppel-KBS US REIT		619
	606,825		Kerry Properties Ltd		1,561
	10,284	*	K-fast Holding AB		272
	133,577		Killam Apartment Real Estate Investment Trust		1,741
	215,182		Kilroy Realty Corp		11,181
	64,519		Kimco Realty Corp		726
	2,222,704		Kindom Construction Co		3,020
	128,669		Kite Realty Group Trust		1,490
	1,700,433		Kiwi Property Group Ltd		1,198
	26,147	e	Klepierre		366
	529,136	*,e	Klovern AB (B Shares)		974
	147,469		Korea Real Estate Investment Trust Co		222
	1,849,691		K-REIT Asia		1,459
	205,755	e	Kungsleden AB		1,948
	1,215,608		KWG Property Holding Ltd		2,094
	183,387		Lai Sun Development Co Ltd		166
	123,720		Lamar Advertising Co		8,187
	65,111	*	Lamda Development S.A.		421
	7,065,745		Land and Houses PCL Co Reg		1,523
	203,622		Land Securities Group plc		1,371
	881,000		Langham Hospitality Investments Ltd		108
	62,342	e	Lar Espana Real Estate Socimi S.A.		288
	1,728		LaSalle Logiport REIT		2,894
	16,172		LEG Immobilien AG.		2,305
	615,802		Lend Lease Corp Ltd		4,919
	918,826		Lendlease Global Commercial REIT		462
	201,343	*,e	Leopalace21 Corp		366
	433,597		Lexington Realty Trust		4,531
	35,142		Life Storage, Inc		3,699
	100,108		Lifestyle Communities Ltd		704
	2,065,858		Link REIT		16,928
	2,131,040	e	Lippo-Mapletree Indonesia Retail Trust		126
	211,105		LOG Commercial Properties e Participacoes S.A.		1,130
	1,305,000		Logan Property Holdings Co Ltd		2,076
	966,454		London & Stamford Property plc		2,764
	1,718,561	g	Longfor Properties Co Ltd		9,738
	120,547		LOTTE Reit Co Ltd		533
	286,707		LSR Group PJSC (ADR)		626
	46,483		LTC Properties, Inc		1,620
	938,000		LVGEM China Real Estate Investment Co Ltd		320
	586,823		LXI REIT plc		816
	235,267	e	Macerich Co		1,597
	145,094		Mack-Cali Realty Corp		1,831
	566,539		Macquarie CountryWide Trust		1,371
	1,606,890		Macquarie MEAG Prime REIT		522
	918,334		Mah Sing Group BHD		147
	1,592,050		Manulife US Real Estate Investment Trust		1,185
	35,779	*,†,e	Mapeley Ltd		0	^
	2,013,384		Mapletree Commercial Trust		2,892
	2,629,800		Mapletree Greater China Commercial Trust		1,821
	1,740,770		Mapletree Industrial Trust		4,124
	2,482,025	e	Mapletree Logistics Trust		3,739

134

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	32,589	*	Marcus & Millichap, Inc	$	897
	413,356		Matrix Concepts Holdings BHD		170
	6,455	*,e	Maui Land & Pineapple Co, Inc		70
	867,800		MBK PCL		333
	261,914		Medical Properties Trust, Inc		4,618
	722,044		Medinet Nasr Housing		147
	24,891		Mega Or Holdings Ltd		601
	10,777,111		Megaworld Corp		661
	23,969		Melisron Ltd		773
	119,482		Mercialys S.A		658
	452,548		Merlin Properties Socimi S.A.		3,775
	50,639	g	Metrovacesa S.A.		327
	1,348,842	g	Mexico Real Estate Management S.A. de C.V.		1,657
	1,003,067		MGM Growth Properties LLC		28,066
	1,901	*	MID Reit, Inc		1,468
	77,399		Mid-America Apartment Communities, Inc		8,974
	19,437		Minto Apartment Real Estate REIT NPV		267
	71,539		Mirae Asset Maps Asia Pacific Real Estate Investment		250
	1,668	*	Mirai Corp		632
	3,662,173		Mirvac Group		5,741
	1,206,321		Mitsubishi Estate Co Ltd		18,273
	318	*	Mitsubishi Estate Logistics REIT Investment Corp		1,312
	878,779		Mitsui Fudosan Co Ltd		15,292
	1,051	*	Mitsui Fudosan Logistics Park, Inc		5,022
	7,540		Mobimo Holding AG.		2,210
	111,177		Monmouth Real Estate Investment Corp (Class A)		1,540
	11,579		Montea C.V.A		1,371
	20,862		Morguard North American Resid		227
	26,214		Morguard Real Estate Investment Trust		84
	1,963	*	Mori Hills REIT Investment Corp		2,555
	365		Mori Trust Hotel Reit, Inc		379
	1,113	*	Mori Trust Sogo Reit, Inc		1,408
	273,229		Multiplan Empreendimentos Imobiliarios S.A.		945
	61,942		National Health Investors, Inc		3,733
	90,360		National Retail Properties, Inc		3,118
	336,474		National Storage Affiliates Trust		11,006
	1,106,325		National Storage REIT		1,446
	1,804,581	h	Neo-China Land Group Holdings Ltd		174
	193,383		NEPI Rockcastle plc		797
	18,621		NESCO Ltd		136
	53,150		NETSTREIT Corp		970
	137,625		New Senior Investment Group, Inc		550
	1,594,620		New World Development Co Ltd		7,784
	281,329		Newmark Group, Inc		1,215
	66,882		Nexity		2,034
	118,943		NexPoint Residential Trust, Inc		5,275
	485	*	Nippon Accommodations Fund, Inc		2,799
	1,202	*	Nippon Building Fund, Inc		6,803
	3,757	*	Nippon ProLogis REIT, Inc		12,670
	506	*	NIPPON REIT Investment Corp		1,720
	80,551		Nomura Real Estate Holdings, Inc		1,533
	4,201	*	Nomura Real Estate Master Fund, Inc		5,263
	102,977		Northview Apartment Real Estate Investment Trust		2,786

135

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	94,199		NorthWest Healthcare Properties Real Estate Investment Trust	$	804
	20,097		NSI NV		707
	312,977	*	Nyfosa AB		2,771
	262,503		Oberoi Realty Ltd		1,406
	396,600		Oceanwide Holdings Co Ltd		247
	75,858		Office Properties Income Trust		1,572
	224,186		Omega Healthcare Investors, Inc		6,712
	26,114		One Liberty Properties, Inc		427
	64,502		Open House Co Ltd		2,337
	825,167		Origin Property PCL		165
	2,073	*	Orix JREIT, Inc		3,190
	2,461,674		OUE Commercial Real Estate Investment Trust		647
	204,784		Outfront Media, Inc		2,980
	352,422		Overseas Union Enterprise Ltd		305
	1,007,345		Oxley Holdings Ltd		160
	423,611	*	Pacific Century Premium Developments Ltd		112
	1,618,264	*	Palm Hills Developments SAE		146
	197,131		Paramount Group, Inc		1,396
	286,576		Park Hotels & Resorts, Inc		2,863
	443,924		Parkway Life Real Estate Investment Trust		1,353
	562,478		Parque Arauco S.A.		787
	78,756		Patrizia Immobilien AG.		2,140
	664,800		Pavilion Real Estate Investment Trust		246
	210,062		Pebblebrook Hotel Trust		2,632
	80,098		Phoenix Mills Ltd		635
	413,674		Physicians Realty Trust		7,409
	612,432		Picton Property Income Ltd		495
	199,281		Piedmont Office Realty Trust, Inc		2,704
	1,214,556		PLA Administradora Industrial S de RL de C.V.		1,681
	31,452	e	Plymouth Industrial REIT, Inc		388
	2,921,817		Poly Hong Kong Investment Ltd		818
	112,000		Poly Property Development Co Ltd		876
	670,099		Poly Real Estate Group Co Ltd		1,573
	109,804		PotlatchDeltic Corp		4,623
	143,500	e	Powerlong Commercial Management Holdings Ltd		483
	1,855,994		Precinct Properties New Zealand Ltd		2,080
	111,067		Preferred Apartment Communities, Inc		600
	1,479	*	Premier Investment Co		1,722
	127,572		Prestige Estates Projects Ltd		436
	1,353,758		Primary Health Properties plc		2,591
	542,800		Prime US REIT		449
	852,826		Prince Housing & Development Corp		318
	468,753		ProLogis Property Mexico S.A. de C.V.		909
	2,234,883		Prologis, Inc		224,874
	2,958		Property & Building Corp		203
	1,444,000		Prosperity REIT		427
	586,100		Pruksa Holding PCL		200
	60,835		PS Business Parks, Inc		7,446
	74,851		PSP Swiss Property AG.		9,042
	6,658,300	*	PT Bumi Serpong Damai		332
	9,156,340		PT Ciputra Development Tbk		399
	16,315,400	*,†	PT Hanson International Tbk		27
	30,551,640	*	PT Lippo Karawaci Tbk		245

136

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	15,883,600		PT Pakuwon Jati Tbk	$	380
	21,132,378		PT Puradelta Lestari Tbk		284
	8,194,500		PT Summarecon Agung Tbk		307
	201,350		Public Storage, Inc		44,845
	1,556,500	*,e	Purplebricks Group plc		1,477
	498,472		QTS Realty Trust, Inc		31,414
	7,689,822		Quality House PCL		535
	528,841		Radium Life Tech Co Ltd		184
	14,061	*,e	Rafael Holdings, Inc		218
	189,847		Rayonier, Inc		5,020
	74,780	e	Raysum Co Ltd		670
	298,515		RDI REIT plc		340
	27,517		Re/Max Holdings, Inc		901
	220,357		Realogy Holdings Corp		2,080
	258,066		Realty Income Corp		15,677
	1,024,000	e,g	Redco Properties Group Ltd		434
	5,272,190		Redefine Properties Ltd		757
	228,401	*	Redfin Corp		11,404
	989,000		Redsun Properties Group Ltd		365
	585,855		Regency Centers Corp		22,274
	1,138,169	g	Regional REIT Ltd		962
	190,662		Reit Ltd		701
	127,928		Relo Holdings, Inc		3,073
	299,678		Resilient REIT Ltd		658
	11,432	e	Retail Estates NV		746
	180,843		Retail Opportunities Investment Corp		1,883
	350,595		Retail Properties of America, Inc		2,037
	86,249		Retail Value, Inc		1,084
	1,743,889		Rexford Industrial Realty, Inc		79,800
	205,595		RioCan Real Estate Investment Trust		2,171
	100,700		RiseSun Real Estate Development Co Ltd		113
	260,908		RLJ Lodging Trust		2,259
	107,373		RMR Group, Inc		2,950
	422,277		Road King Infrastructure		505
	1,716,684		Robinsons Land Corp		506
	539,405		Ronshine China Holdings Ltd		381
	136,430		RPT Realty		742
	623,620		Ruentex Development Co Ltd		842
	347,974	e	Rural Funds Group		575
	64,762		Ryman Hospitality Properties		2,383
	956,773		Sabana Shari’ah Compliant Industrial REIT		257
	378,469		Sabra Healthcare REIT, Inc		5,217
	22,488	e	Safehold, Inc		1,396
	577,538		Safestore Holdings plc		5,800
	138,484	*,e	Sagax AB		506
	155,267	*,e	Samhallsbyggnadsbolaget i - D		545
	881,172	e	Samhallsbyggnadsbolaget i Norden AB		2,657
	34,430	e	SAMTY Co Ltd		519
	333	*	Samty Residential Investment Corp		323
	10,828,482		Sansiri PCL		206
	609,100		Sasseur Real Estate Investment Trust		345
	89,757	*	Saudi Real Estate Co		367
	10,764		Saul Centers, Inc		286
	188,159		Savills plc		1,891

137

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	166,972		SBA Communications Corp	$	53,177
	1,313,646		SC Asset Corp PCL		92
	5,785,052		Scentre Group		9,211
	587,782		Schroder Real Estate Investment Trust Ltd		245
	1,139,282		Segro plc		13,691
	4,529	*	Sekisui House Reit, Inc		3,343
	74,643		Selvaag Bolig ASA		414
	55,353	*,e	Seritage Growth Properties		744
	261,290		Service Properties Trust		2,077
	177,695		Shaftesbury plc		1,139
	1,211,044		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		1,016
	89,100		Shanghai Zhangjiang High-Tech Park Development Co Ltd		250
	3,315,334		Shenzhen Investment Ltd		973
	1,182,969		Shimao Property Holdings Ltd		4,935
	293,970	*	Shining Building Business Co Ltd		104
	1,221,301		Shopping Centres Australasia Property Group		1,868
	3,096,000		Shui On Land Ltd		394
	227	*	SIA Reit, Inc		539
	1,053,140		Siam Future Development PCL		149
	33,000		Sichuan Languang Justbon Services Group Co Ltd		187
	2,115,900		Sime Darby Property BHD		295
	426,849		Simon Property Group, Inc		27,609
	2,608,200		Singha Estate PCL		108
	2,949,763		Sino Land Co		3,453
	3,768,004		Sino-Ocean Land Holdings Ltd		763
	214,692		Sinyi Realty Co		212
	1,661,183		Sirius Real Estate Ltd		1,559
	249,554		SITE Centers Corp		1,797
	205,449		Six of October Development & Investment		164
	7,080		SK D&D Co Ltd		251
	2,186,000		Skyfame Realty Holdings Ltd		277
	105,517	e	SL Green Realty Corp		4,893
	21,634		Slate Grocery REIT		171
	9,708,852		SM Prime Holdings		5,917
	66,698		Smart Real Estate Investment Trust		1,002
	41,673		Sobha Developers Ltd		126
	2,526,135		Soho China Ltd		687
	1,003,869		Soilbuild Business Space REIT		370
	578	*	SOSiLA Logistics REIT, Inc		766
	1,357,100		SP Setia BHD		252
	52,054		Sparkassen Immobilien AG.		886
	1,024,200		SPH REIT		666
	14,854		Spirit Realty Capital, Inc		501
	225,447		ST Modwen Properties plc		909
	32,435	*	St. Joe Co		669
	390,484		STAG Industrial, Inc		11,906
	435,589		Standard Life Investment Property Income Trust Ltd		261
	11,764	e	Star Asia Investment Corp		4,906
	242	*	Starts Proceed Investment Corp		476
	3,307,430		Stockland Trust Group		9,035
	394,006	e	Stor-Age Property REIT Ltd		290
	1,123,000		StorageVault Canada, Inc		2,699

138

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	232,042		STORE Capital Corp	$	6,365
	5,695	*,e	Stratus Properties, Inc		123
	245,690		Sumitomo Realty & Development Co Ltd		7,273
	153,893		Summit Hotel Properties, Inc		797
	73,520		Summit Industrial Income REIT		709
	42,729		Summit Real Estate Holdings Ltd		370
	441,254		Sun Communities, Inc		62,045
	164,780		Sun Frontier Fudousan Co Ltd		1,382
	1,363,655		Sun Hung Kai Properties Ltd		17,573
	2,457,522		Sunac China Holdings Ltd		9,682
	1,880,000	*,e	Suncity Group Holdings Ltd		193
	1,138,000		Sunlight Real Estate Investment Trust		512
	332,168		Sunstone Hotel Investors, Inc		2,637
	1,837,229		Suntec Real Estate Investment Trust		1,970
	47,068		Sunteck Realty Ltd		176
	1,540,900		Sunway Real Estate Investment		579
	1,433,301		Supalai PCL		703
	466,000		Swire Pacific Ltd (Class A)		2,256
	1,202,194		Swire Properties Ltd		3,185
	75,873		Swiss Prime Site AG.		6,891
	162,706		TAG Tegernsee Immobilien und Beteiligungs AG.		4,906
	321,500	e	Takara Leben Co Ltd		953
	490	*	Takara Leben Real Estate Investment Corp		407
	844,602		Talaat Moustafa Group		340
	130,514	e	Tanger Factory Outlet Centers, Inc		787
	66,825		Taubman Centers, Inc		2,225
	31,255	*	Tejon Ranch Co		442
	193,875		Terreno Realty Corp		10,617
	41,480		TOC Co Ltd		258
	368,693		Tokyo Tatemono Co Ltd		4,530
	549,310		Tokyu Fudosan Holdings Corp		2,373
	934	*	Tokyu REIT, Inc		1,306
	182,643		Tosei Corp		1,700
	2,141	*	Tosei Reit Investment Corp		2,241
	2,086	*	Transcontinental Realty Investors, Inc		52
	210,964		Tricon Capital Group, Inc		1,749
	7,237,394		Tritax Big Box REIT plc		14,454
	9,099,120	g	Tritax EuroBox plc		10,309
	40,384		UDR, Inc		1,317
	1,111,800	*	UEM Land Holdings BHD		98
	878,172		UK Commercial Property REIT Ltd		772
	47,030		UMH Properties, Inc		637
	13,205	e	Unibail-Rodamco-Westfield		487
	5,187	e	Unibail-Rodamco-Westfield (Paris)		192
	1,834,656	*	Union Properties PJSC		149
	1,386,377		Unite Group plc		14,990
	1,573,275		United Development Co PSC		806
	3,018	*	United Urban Investment Corp		3,358
	383,641		Uniti Group, Inc		4,042
	9,789		Universal Health Realty Income Trust		558
	429,602		UOL Group Ltd		2,111
	151,815		Urban & Civic plc		413
	371,163		Urban Edge Properties		3,608
	52,579		Urstadt Biddle Properties, Inc (Class A)		484

139

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	13,941	e	Vastned Retail NV	$	373
	560,299		Ventas, Inc		23,510
	187,469		VEREIT, Inc		1,219
	986,261		VICI Properties, Inc		23,049
	3,583,026		Vicinity Centres		3,578
	2,624,000		Vista Land & Lifescapes, Inc		185
	21,282		Vornado Realty Trust		717
	717,654		Vukile Property Fund Ltd		208
	182,572	e	Wallenstam AB		2,776
	723,925		Warehouse REIT plc		1,037
	225,261		Warehouses De Pauw CVA		8,197
	128,221		Washington REIT		2,581
	279,111		Watkin Jones plc		509
	834,087		Waypoint REIT		1,630
	100,014		Weingarten Realty Investors		1,696
	595,797		Welltower, Inc		32,822
	38,444	e	Wereldhave NV		350
	1,095,000		Weyerhaeuser Co		31,229
	8,311,209		WHA Corp PCL		744
	1,675,638		Wharf Holdings Ltd		3,361
	1,829,360	e	Wharf Real Estate Investment Co Ltd		7,499
	70,321	*	Whitestone REIT		422
	207,830		Wihlborgs Fastigheter AB		4,104
	505,940		Wing Tai Holdings Ltd		647
	151,985		Workspace Group plc		1,054
	21,351		WP Carey, Inc		1,391
	44,631	h	WPT Industrial Real Estate Investment Trust		567
	183,216		Xenia Hotels & Resorts, Inc		1,609
	465,300		Xinhu Zhongbao Co Ltd		232
	327,000		Xinji Shaxi Group Co Ltd		105
	49,800		Yango Group Co Ltd		54
	664,342		Yanlord Land Group Ltd		553
	8,497		YH Dimri Construction & Development Ltd		249
	454,000		Yincheng International Holding Co Ltd		141
	1,514,044	*,e	Yoma Strategic Holdings Ltd		319
	604,700		YTL Hospitality REIT		105
	1,632,000		Yuexiu Real Estate Investment Trust		763
	7,058,000		Yuexiul Property Co Ltd		1,386
	2,073,963		Yuzhou Properties Co		826
	1,576,000		Zhenro Properties Group Ltd		968
	367,500	*	Zhongtian Financial Group Co Ltd		182
	1,274,000	*	Zhuguang Holdings Group Co Ltd		202
			TOTAL REAL ESTATE		3,358,573
RETAILING - 7.5%
	208,972	*	1-800-FLOWERS.COM, Inc (Class A)		5,212
	209,028		Aaron’s, Inc		11,841
	27,469		ABC-Mart, Inc		1,430
	98,535		Abercrombie & Fitch Co (Class A)		1,373
	365,827		Accent Group Ltd		436
	30,130		Adastria Holdings Co Ltd		475
	96,667		Advance Auto Parts, Inc		14,838
	555,900		Aeon Co M BHD		107
	1,687,400	*	Alibaba Group Holding Ltd		61,946

140

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	2,818,445	*	Alibaba Group Holding Ltd (ADR)	$	828,566
	1,138,700	*	AllHome Corp		137
	15,990		Alpen Co Ltd		303
	1,017,949	*	Amazon.com, Inc		3,205,247
	249,403	e	American Eagle Outfitters, Inc		3,694
	6,546	*,e	America’s Car-Mart, Inc		556
	322,904	*	AO World plc		899
	35,200	e	AOKI Holdings, Inc		177
	53,841	e	Aoyama Trading Co Ltd		284
	172,283		AP Eagers Ltd		1,138
	34,122		Arata Corp		1,703
	30,376		Arc Land Sakamoto Co Ltd		624
	17,558		Asahi Co Ltd		308
	42,830	*	Asbury Automotive Group, Inc		4,174
	62,764		ASKUL Corp		2,564
	488,847	*	ASOS plc		32,457
	83,013	*,e	At Home Group, Inc		1,234
	75,488		Autobacs Seven Co Ltd		983
	124,923	*	Autonation, Inc		6,612
	35,343	*	AutoZone, Inc		41,621
	3,938,905		B&M European Value Retail S.A.		25,111
	38,846	g	B&S Group Sarl		301
	3,708,381	*	B2W Companhia Global Do Varejo		59,417
	301,318	*,e	Baozun, Inc (ADR)		9,790
	288,859	e	Bed Bath & Beyond, Inc		4,327
	55,005	e	Belluna Co Ltd		501
	844,473		Berjaya Auto BHD		282
	915,252		Best Buy Co, Inc		101,858
	105,800	*	BIC CAMERA, Inc		1,176
	60,788		Big Lots, Inc		2,711
	154,436		Bilia AB		1,941
	713,243	*	BJ’s Wholesale Club Holdings, Inc		29,635
	5,035,696	*	boohoo.com plc		24,311
	137,536	*	Booking Holdings, Inc		235,280
	21,964	*,e	Boot Barn Holdings, Inc		618
	45,519	*,g	Boozt AB		633
	537,000	*,†,e	Boshiwa International Holding		1
	111,490	e	Boyd Group Services, Inc		17,221
	46,473	e	Buckle, Inc		948
	161,768	*	Burlington Stores, Inc		33,339
	367,462		Burson Group Ltd		1,807
	94,624		C&A Modas Ltd		194
	70,258		Caleres, Inc		672
	203,697	e	Camping World Holdings, Inc		6,060
	94,963	e	Canadian Tire Corp Ltd		9,565
	597,922	*	CarMax, Inc		54,955
	111,736	*,e	CarParts.com, Inc		1,208
	78,351	*,e	Carvana Co		17,477
	37,586		Cato Corp (Class A)		294
	405,716	e	Children’s Place, Inc		11,502
	419,000	e	China Animation Characters Co Ltd		137
	798,000	e	China Harmony New Energy Auto Holding Ltd		317
	2,898,842		China Meidong Auto Holdings Ltd		11,168
	946,500	e	China ZhengTong Auto Services Holdings Ltd		92

141

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	15,316		Chiyoda Co Ltd	$	143
	17,949	e	Citi Trends, Inc		448
	686,000	*	City Telecom (HK) Ltd		976
	15,455		CJ O Shopping Co Ltd		1,880
	113,866	e	Clas Ohlson AB (B Shares)		1,157
	507,479		Com7 PCL (Foreign)		635
	92,452	*	Conn’s, Inc		978
	35,643	*,e	Container Store Group, Inc		221
	199,430		Core-Mark Holding Co, Inc		5,770
	6,457		Cuckoo Homesys Co Ltd		230
	169,146		DCM Japan Holdings Co Ltd		2,330
	58,051		Delek Automotive Systems Ltd		285
	218,349	*,g	Delivery Hero AG.		25,053
	118,250		Designer Brands, Inc		642
	143,281	*	Despegar.com Corp		911
	241,662		Dick’s Sporting Goods, Inc		13,987
	35,350		Dieteren S.A.		2,198
	13,430	e	Dillard’s, Inc (Class A)		490
	633,450		Dohome PCL		301
	409,930		Dollar General Corp		85,930
	384,969	*	Dollar Tree, Inc		35,163
	630,995		Dollarama, Inc		24,187
	386,500		Don Quijote Co Ltd		9,001
	25,100		Doshisha Co Ltd		505
	51,876	e	Dufry Group		1,606
	42,752	*,e	Duluth Holdings, Inc		522
	113,266		Dunelm Group plc		2,039
	60,242	g	Dustin Group AB		379
	1,028,062		eBay, Inc		53,562
	84,578		EDION Corp		886
	68,952	*	eDreams ODIGEO S.A.		186
	118,300	e	Enigmo, Inc		1,877
	7,295	*,e	Envela Corp		31
	207,045	*	Etsy, Inc		25,183
	358,492	g	Europris ASA		1,838
	543,196		Expedia Group, Inc		49,806
	903,000		Far Eastern Department Stores Co Ltd		763
	695,615	*,e	Farfetch Ltd		17,502
	58,179		Fast Retailing Co Ltd		36,561
	68,757	*	Fawaz Abdulaziz Al Hokair & Co		425
	82,990	*	Five Below, Inc		10,540
	11,899	*,e	Fiverr International Ltd		1,654
	124,369	*	Floor & Decor Holdings, Inc		9,303
	17,166		Foot Locker, Inc		567
	314,356	e	Foschini Ltd		1,539
	19,400		Fuji Co Ltd		350
	43,075	*,e	Funko, Inc		249
	127,898	*	Future Enterprises Ltd		156
	60,715		Future Lifestyle Fashions Ltd		73
	286,935	*,e	GameStop Corp (Class A)		2,927
	23,386		Gap, Inc		398
	24,571	*	Genesco, Inc		529
	18,574	e	Genuine Parts Co		1,768
	34,600		Geo Holdings Corp		550

142

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,338,000		Giordano International Ltd	$	234
	1,165,057		Gocompare.Com Group plc		1,609
	4,932,494	*,e	GOME Electrical Appliances Holdings Ltd		653
	604,500	*	Grand Baoxin Auto Group Ltd		86
	5,487	*,e	Greenlane Holdings Inc		12
	28,092		Group 1 Automotive, Inc		2,483
	19,460		Groupe Fnac		872
	37,681	*	Groupon, Inc		769
	30,838	*,e	GrowGeneration Corp		493
	511,579	*	GrubHub, Inc		37,003
	88,553	*	Grupo SBF S.A.		400
	2,870		GS Home Shopping, Inc		317
	70,693		Guess?, Inc		821
	74,500		Gulliver International Co Ltd		449
	628,120		Halfords Group plc		1,470
	93,225	e	Hankyu Department Stores, Inc		607
	615,162	e	Harvey Norman Holdings Ltd		2,002
	31,567		Haverty Furniture Cos, Inc		661
	550,614	*	HelloFresh SE		30,600
	20,416,000	*,e	HengTen Networks Group Ltd		770
	398,644		Hennes & Mauritz AB (B Shares)		6,868
	55,178	*,e	Hibbett Sports, Inc		2,164
	34,590		Hikari Tsushin, Inc		8,253
	2,687,172		Home Depot, Inc		746,255
	2,757,384		Home Product Center PCL (Foreign)		1,257
	9,079		Hornbach Baumarkt AG.		482
	25,184		Hornbach Holding AG. & Co KGaA		2,941
	221,618		Hotai Motor Co Ltd		4,961
	16,445		Hotel Shilla Co Ltd		1,065
	2,285,000	*,†	Hsin Chong Group Holdings Ltd		3
	75,296	*,e	Hudson Ltd		572
	13,262		Hyundai Department Store Co Ltd		638
	5,263		Hyundai Home Shopping Network Corp		321
	450,027		Inchcape plc		2,552
	934,243		Industria De Diseno Textil S.A.		25,845
	231,075	e	Isetan Mitsukoshi Holdings Ltd		1,227
	40,400		Izumi Co Ltd		1,473
	252,600		J Front Retailing Co Ltd		1,829
	31,091		Jardine Cycle & Carriage Ltd		413
	80,576		Jarir Marketing Co		4,034
	218,441		JB Hi-Fi Ltd		7,427
	408,216		JD Sports Fashion plc		4,261
	194,232	*	JD.com, Inc		7,479
	2,440,324	*	JD.com, Inc (ADR)		189,394
	14,142		Jin Co Ltd		1,117
	20,120		Joshin Denki Co Ltd		503
	94,274		Joyful Honda Co Ltd		1,538
	49,353		JUMBO S.A.		864
	66,910	*,g	Just Eat Takeaway		7,489
	36,187	e	Keiyo Co Ltd		302
	138,216		Kering		91,685
	1,486,569		Kingfisher plc		5,694
	9,100	e	Kintetsu Department Store Co Ltd		282
	69,312		Kogan.com Ltd		1,012

143

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	70,485		Kohl’s Corp	$	1,306
	73,205		Kohnan Shoji Co Ltd		2,852
	109,532		Komeri Co Ltd		3,462
	209,528		K’s Holdings Corp		2,837
	100,837		L Brands, Inc		3,208
	21,347	*,e	Lands’ End, Inc		278
	42,600		Liaoning Cheng Da Co Ltd		146
	370,000	*	Lifestyle China Group Ltd		57
	514,000		Lifestyle International Holdings Ltd		421
	44,860	*,e	Liquidity Services, Inc		335
	51,077		Lithia Motors, Inc (Class A)		11,642
	43,603	*	LKQ Corp		1,209
	1,556,190		Lojas Americanas S.A. (Preference)		7,867
	1,122,400	*	Lojas Quero Quero S		2,788
	745,817		Lojas Renner S.A.		5,266
	8,562		LOTTE Himart Co Ltd		221
	6,461		Lotte Shopping Co Ltd		433
	59,444	e	Lovisa Holdings Ltd		358
	1,984,841		Lowe’s Companies, Inc		329,206
	380,561		Luk Fook Holdings International Ltd		923
	48,212	*	Lumber Liquidators, Inc		1,063
	498,046	e	Macy’s, Inc		2,839
	1,226,509		Magazine Luiza S.A.		19,481
	457,848	*,e	Magnite, Inc		3,180
	50,923	g	Maisons du Monde S.A.		765
	1,238,428	*	MakeMyTrip Ltd		19,022
	433,526	*,g	Maoyan Entertainment		754
	129,951	*,e	MarineMax, Inc		3,336
	195,580	*	Marisa Lojas S.A.		242
	5,319,952		Marks & Spencer Group plc		6,676
	131,209	e	Marui Co Ltd		2,518
	40,802		Matas A.S.		475
	29,716	e	Matsuya Co Ltd		213
	8,571	e	Media Do Holdings Co Ltd		623
	4,284,000	*	Meituan Dianping (Class B)		134,951
	44,888		Mekonomen AB		466
	15,284	*	MercadoLibre, Inc		16,545
	59,600	*,e	Mercari, Inc		2,754
	246,879	*	Metro AG.		1,213
	119,071	*,e	Michaels Cos, Inc		1,150
	45,693		Mobilezone Holding AG.		453
	34,141		momo.com, Inc		831
	597,751		Moneysupermarket.com Group plc		2,060
	39,168		Monro Muffler, Inc		1,589
	152,968		Motus Holdings Ltd		393
	1,174,311		Mr Price Group Ltd		9,208
	227,000	*,e,g	Mulsanne Group Holding Ltd		167
	23,206	*	Murphy USA, Inc		2,977
	33,617	*	Musti Group Oyj		818
	678,795		Naspers Ltd (N Shares)		119,891
	157,175	*	National Vision Holdings, Inc		6,010
	1,142,716		New Carphone Warehouse plc		1,376
	93,299		Next plc		7,153
	46,620	e	Nextage Co Ltd		510

144

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	46,835		Nishimatsuya Chain Co Ltd	$	637
	94,304		Nitori Co Ltd		19,564
	107,762		Nojima Corp		2,908
	510,059	e	Nordstrom, Inc		6,080
	438,211	*	Ocado Ltd		15,499
	207,438	*	ODP Corp		4,035
	27,400	*	Oisix ra daichi, Inc		887
	73,457	*	Ollie’s Bargain Outlet Holdings, Inc		6,416
	168,108	g	On the Beach Group plc		529
	4,688	*,e	OneWater Marine, Inc		96
	12,184	*,e	Open Door, Inc		159
	142,942	*	O’Reilly Automotive, Inc		65,908
	82,122	*	Overstock.com, Inc		5,966
	287,087		Padini Holdings BHD		161
	23,528		Pal Co Ltd		250
	145,315		Paltac Corp		7,350
	84,780		PC Home Online		296
	45,558	e	Penske Auto Group, Inc		2,171
	507,006	e,g	Pepkor Holdings Ltd		337
	14,466	e	PetMed Express, Inc		457
	704,900		Petrobras Distribuidora S.A.		2,529
	558,520		Pets at Home Group plc		3,053
	573,482	*	Pinduoduo, Inc (ADR)		42,524
	65,931		Pool Corp		22,057
	2,529,129		Pou Sheng International Holdings Ltd		643
	51,701		Poya Co Ltd		989
	232,106		Premier Investments Ltd		3,450
	524,800	*	Prosus NV		48,440
	3,523,500		PT ACE Hardware Indonesia Tbk		378
	2,205,300	*	PT Bintang Oto Global Tbk		229
	121,892,100		PT Matahari Department Store Tbk		8,060
	7,458,479		PT Mitra Adiperkasa Tbk		287
	2,191,068		PT Ramayana Lestari Sentosa Tbk		78
	768,468		PTG Energy PCL (Foreign)		451
	138,925	*	Quotient Technology, Inc		1,025
	570,117		Qurate Retail Group, Inc QVC Group		4,093
	1,040,865	*	Rakuten, Inc		11,224
	87,314	*	Real Matters, Inc		1,702
	125,687	*,e	RealReal, Inc		1,819
	227,237		Rent-A-Center, Inc		6,792
	30,997	*	RH		11,860
	716,396		Ripley Corp S.A.		196
	78,809	*,g	Rocket Internet SE		1,726
	490,362	e	Ross Stores, Inc		45,761
	164,700		Ryohin Keikaku Co Ltd		2,737
	1,233,831	e	SA SA International Holdings Ltd		215
	1,089,817		SACI Falabella		3,192
	171,034	*,e	Sally Beauty Holdings, Inc		1,486
	52,300	e	Sanrio Co Ltd		944
	94,918		Saudi Co For Hardware CJSC		1,301
	23,668	*	Seobu Truck Terminal Co Ltd		127
	215,681		Seria Co Ltd		9,204
	47,300		Shanghai Yuyuan Tourist Mart Group Co Ltd		61
	42,906	e	Shimachu Co Ltd		1,451

145

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	16,892		Shimamura Co Ltd	$	1,641
	3,805		Shinsegae Co Ltd		688
	2,648		Shinsegae International Co Ltd		342
	684,000		Shirble Department Stores		56
	15,422	e	Shoe Carnival, Inc		518
	12,247	*,g	Shop Apotheke Europe NV		2,133
	19,882		Shutterstock, Inc		1,035
	85,005	e	Signet Jewelers Ltd		1,590
	40,225	g	Sleep Country Canada Holdings, Inc		602
	102,330	*	Sleep Number Corp		5,005
	45,785	*,e,g	SMCP S.A.		207
	128,688		Sonic Automotive, Inc (Class A)		5,168
	436,397	*	Sports Direct International plc		1,935
	149,426	*,e	Sportsman’s Warehouse Holdings, Inc		2,138
	25,882	*	Stamps.com, Inc		6,236
	198,430	e	Start Today Co Ltd		5,537
	61,076	*,e	Stitch Fix Inc		1,657
	315,900		Suning.com Co Ltd		423
	514,500		Super Cheap Auto Group Ltd		3,913
	352,899	*	Super Group Ltd		425
	149,951		Takashimaya Co Ltd		1,189
	106,972	*,e,g	Takeaway.com Holding BV		11,975
	37,096		Takkt AG.		463
	1,250,588	e	Target Corp		196,868
	22,069		Telepark Corp		415
	470,000	*	Temple & Webster Group Ltd		4,200
	148,000		Test-Rite International Co		123
	4,442,689	*	THG Holdings Ltd		34,293
	177,811		Tiffany & Co		20,599
	38,741		Tilly’s, Inc		234
	2,632,121		TJX Companies, Inc		146,478
	84,141		Tokmanni Group Corp		1,486
	831,800	*	Tongcheng-Elong Holdings Ltd		1,526
	5,933,054	g	Topsports International Holdings Ltd		8,248
	152,526		Tractor Supply Co		21,863
	1,380,396	*,g	Trainline plc		6,438
	670,833	*	Trip.com Group Ltd (ADR)		20,890
	384,487	e	Truworths International Ltd		715
	124,378	*	Ulta Beauty, Inc		27,858
	23,599	e	United Arrows Ltd		343
	26,929		United Electronics Co		501
	113,944	*,e	Urban Outfitters, Inc		2,371
	170,043		USS Co Ltd		3,043
	126,623	*,e	Uxin Ltd (ADR)		110
	3,813	e	Valora Holding AG.		709
	1,169,800	*	Via Varejo S.A.		3,614
	1,906,500	*	Vipshop Holdings Ltd (ADR)		29,818
	7,303		V-Mart Retail Ltd		196
	35,267	*	Vroom, Inc		1,826
	86,988		VT Holdings Co Ltd		337
	364,354	*	Waitr Holdings Inc		1,173
	98,606	*,e	Wayfair, Inc		28,695
	455,928	e	Webjet Ltd		1,288
	1,119,133		Wesfarmers Ltd		35,772

146

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	5,122	e	Weyco Group, Inc	$	83
	146,366		WH Smith plc		1,798
	1,309,900		Wilcon Depot, Inc		433
	114,320		Williams-Sonoma, Inc		10,339
	10,442		Winmark Corp		1,798
	3,612,148		Woolworths Holdings Ltd		7,576
	82,800	e	Workman Co Ltd		7,288
	78,900		World Co Ltd		1,069
	176,200		Wuchan Zhongda Group Co Ltd		120
	22,042		Xebio Co Ltd		159
	1,282,794		Yamada Denki Co Ltd		6,397
	106,033		Yellow Hat Ltd		1,773
	28,500	*	Yume No Machi Souzou Iinkai Co Ltd		761
	178,514	*,g	Zalando SE		16,679
	281,500		Zhongsheng Group Holdings Ltd		1,771
	6,838	*	zooplus AG.		1,272
	95,137	*,e	Zumiez, Inc		2,647
			TOTAL RETAILING		8,392,665
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 5.2%
	108,648	*	Acacia Communications, Inc		7,323
	200,615		A-DATA Technology Co Ltd		385
	59,938	*	Advanced Energy Industries, Inc		3,772
	3,494,286	*	Advanced Micro Devices, Inc		286,497
	10,439		Advanced Process Systems Corp		196
	134,483		Advanced Wireless Semiconductor Co		476
	268,200		Advantest Corp		13,045
	126,877	*	Aixtron AG.		1,531
	55,000		Alchip Technologies Ltd		939
	35,211	*	Alpha & Omega Semiconductor Ltd		451
	44,152	*	Ambarella, Inc		2,304
	616,808	*	Amkor Technology, Inc		6,908
	293,334	*	ams AG.		6,632
	673,883		Analog Devices, Inc		78,669
	3,629,759		Applied Materials, Inc		215,789
	371,738		Ardentec Corp		422
	2,595,963		ASE Industrial Holding Co Ltd		5,345
	108,892		ASM International NV		15,609
	360,256		ASM Pacific Technology		3,688
	22,000		ASMedia Technology, Inc		1,115
	785,408		ASML Holding NV		290,108
	55,000		ASPEED Technology, Inc		2,176
	12,794	*,e	Atomera, Inc		134
	37,707	*	Atto Co Ltd		139
	30,930	*	Axcelis Technologies, Inc		680
	67,959	*,e	AXT, Inc		416
	80,025		BE Semiconductor Industries NV		3,431
	3,512,000	*	Beijing Energy International Holding Co Ltd		109
	1,203,038		Broadcom, Inc		438,291
	271,373		Brooks Automation, Inc		12,554
	16,476	*	Ceva, Inc		649
	104,000		Chang Wah Technology Co Ltd		135
	11,538	*,†	China Energy Savings Technology, Inc		0
	1,383,000		Chipbond Technology Corp		3,048

147

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	540,436		ChipMOS Technologies, Inc	$	537
	85,546	*	Cirrus Logic, Inc		5,770
	63,997		Cohu, Inc		1,099
	594,456	*	Cree, Inc		37,891
	6,231	*	CyberOptics Corp		198
	42,469	e	Dainippon Screen Manufacturing Co Ltd		2,267
	9,399	*	Daqo New Energy Corp (ADR)		1,271
	207,684	*	Dialog Semiconductor plc		9,052
	109,318	*	Diodes, Inc		6,171
	39,180		Disco Corp		9,580
	155,910		Dongbu HiTek Co Ltd		4,995
	38,097	*	DSP Group, Inc		502
	275,400		Elan Microelectronics Corp		1,395
	229,000		Elite Semiconductor Memory Technology, Inc		297
	10,193		Elmos Semiconductor AG.		248
	57,571		eMemory Technology, Inc		1,022
	394,960	*	Enphase Energy, Inc		32,620
	196,598		Entegris, Inc		14,615
	8,341		Eo Technics Co Ltd		706
	94,000		Episil-Precision, Inc		218
	1,038,000		Epistar Corp		1,279
	853,000		Everlight Electronics Co Ltd		1,099
	212,060		Faraday Technology Corp		324
	39,433		Ferrotec		340
	133,770	*	First Solar, Inc		8,856
	306,000		Forhouse Corp		116
	362,222	*	Formfactor, Inc		9,030
	153,000		Formosa Advanced Technologies Co Ltd		185
	691,200		Formosa Sumco Technology Corp		2,525
	58,376		Foxsemicon Integrated Technology, Inc		366
	13,196,000	*,e	GCL Poly Energy Holdings Ltd		558
	545,200	*	GCL System Integration Technology Co Ltd		304
	30,437	*	GemVax & Kael Co Ltd		601
	25,820		Gigadevice Semiconductor Beijing, Inc		659
	68,000		Global Lighting Technologies, Inc		244
	83,000		Global Unichip Corp		753
	274,000		Globalwafers Co Ltd		3,666
	491,233		Globetronics Technology BHD		315
	259,000		Greatek Electronics, Inc		441
	12,289	*,e	GSI Technology, Inc		69
	85,000		Hangzhou Silan Microelectronics Co Ltd		202
	21,323		Hanmi Semiconductor Co Ltd		190
	171,000		Holtek Semiconductor, Inc		382
	216,000	e,g	Hua Hong Semiconductor Ltd		832
	1,216,993		Hynix Semiconductor, Inc		87,237
	21,537	*	Ichor Holdings Ltd		465
	75,839	*,e	Impinj, Inc		1,998
	2,902,031		Infineon Technologies AG.		81,796
	5,683	*	Innox Advanced Materials Co Ltd		231
	196,263	*	Inphi Corp		22,031
	9,043,760	e	Intel Corp		468,286
	851,855	*,e	IQE plc		561
	6,340	*	ITM Semiconductor Co Ltd		314
	70,913		Japan Material Co Ltd		994

148

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	64,000		Jentech Precision Industrial Co Ltd	$	680
	114,327	*,e	JinkoSolar Holding Co Ltd (ADR)		4,546
	1,043,000		King Yuan Electronics Co Ltd		1,105
	251,000		Kinsus Interconnect Technology Corp		577
	138,106		KLA Corp		26,757
	10,593		Koh Young Technology, Inc		811
	331,894		Lam Research Corp		110,106
	69,800		Land Mark Optoelectronics Corp		603
	102,448		Lasertec Corp		8,421
	496,005	*	Lattice Semiconductor Corp		14,364
	9,464		LEENO Industrial Inc		997
	175,000	*	Lite-On Semiconductor Corp		254
	229,350		LONGi Green Energy Technology Co Ltd		2,537
	30,278		Machvision, Inc		300
	66,754	*	MACOM Technology Solutions Holdings, Inc		2,270
	1,752,000		Macronix International		1,954
	76,500		Malaysian Pacific Industries BHD		348
	67,000		Marketech International Corp		243
	4,375,076		Marvell Technology Group Ltd		173,691
	8,543	*,e	Maxeon Solar Technologies Ltd		145
	239,796		Maxim Integrated Products, Inc		16,213
	121,149	*	MaxLinear, Inc		2,815
	3,056,965		MediaTek, Inc		64,774
	18,089		Megachips Corp		495
	22,237		Melexis NV		1,730
	217,059		Microchip Technology, Inc		22,305
	2,867,870	*	Micron Technology, Inc		134,675
	31,400		Micronics Japan Co Ltd		330
	17,991		Mimasu Semiconductor Industry Co Ltd		413
	22,206		Mitsui High-Tec, Inc		444
	55,624		MKS Instruments, Inc		6,076
	136,811		Monolithic Power Systems, Inc		38,254
	110,852	*	Nanometrics, Inc		3,301
	629,000		Nanya Technology Corp		1,264
	2,173,860	*	Neo Solar Power Corp		875
	227,705	*	NeoPhotonics Corp Ltd		1,387
	15,865		NEPES Corp		425
	158,081	*	Nordic Semiconductor ASA		1,631
	51,833	*	Nova Measuring Instruments Ltd		2,722
	285,452		Novatek Microelectronics Corp Ltd		2,633
	101,000		Nuvoton Technology Corp		147
	10,931	e	NVE Corp		536
	1,414,974		NVIDIA Corp		765,812
	1,883,445		NXP Semiconductors NV		235,073
	374,045	*,e	ON Semiconductor Corp		8,113
	37,952		Optorun Co Ltd		773
	217,100		Pan Jit International, Inc		275
	68,401		Parade Technologies Ltd		2,501
	21,482	*,e	PDF Solutions, Inc		402
	67,195		Phison Electronics Corp		620
	103,610	*	Photronics, Inc		1,032
	120,613		Pixart Imaging, Inc		748
	33,141	*,e	Pixelworks, Inc		68
	53,891	e	Power Integrations, Inc		2,986

149

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	359,597		Powertech Technology, Inc	$	1,081
	100,911	*	Qorvo, Inc		13,019
	3,500,341		QUALCOMM, Inc		411,920
	1,337,983		Radiant Opto-Electronics Corp		5,131
	382,322	*	Rambus, Inc		5,234
	237,598		Realtek Semiconductor Corp		3,046
	6,215,615	*	Renesas Electronics Corp		45,620
	13,456		RFHIC Corp		472
	48,000		RichWave Technology Corp		401
	126,606		Rohm Co Ltd		9,788
	10,907		Rorze Corp		518
	8,800		RS Technologies Co Ltd		282
	264,638		Sanan Optoelectronics Co Ltd		957
	23,613		Sanken Electric Co Ltd		555
	128,000		SDI Corp		262
	1,799,647	*,e	Semiconductor Manufacturing International Corp		4,213
	119,117	*	Semtech Corp		6,308
	37,484		Seoul Semiconductor Co Ltd		550
	8,400		SG Micro Corp		371
	246,000	*,e	Shanghai Fudan Microelectronics Group Co Ltd		420
	25,300		Shenzhen Goodix Technology Co Ltd		588
	7,540		Shindengen Electric Manufacturing Co Ltd		144
	665,500		Shinko Electric Industries		11,662
	41,000		ShunSin Technology Holding Ltd		139
	335,116		Sigurd Microelectronics Corp		440
	192,588		Silergy Corp		11,418
	79,857	*	Silicon Laboratories, Inc		7,814
	10,225		Silicon Works Co Ltd		393
	23,480		Siltronic AG.		2,104
	477,838		Sino-American Silicon Products, Inc		1,610
	16,211	*	SiTime Corp		1,362
	105,567		Sitronix Technology Corp		480
	837,113		Skyworks Solutions, Inc		121,800
	11,735	*	SMA Solar Technology AG.		525
	12,096	*	SMART Global Holdings, Inc		331
	24,594	*,e	SOITEC		3,541
	70,800	*	SolarEdge Technologies, Inc		16,875
	1,495,042	*	STMicroelectronics NV		45,853
	79,482	*	STS Semiconductor & Telecommunications		345
	2,267,016		Sumco Corp		31,986
	204,168	*,e	SunPower Corp		2,554
	61,636	*	Synaptics, Inc		4,957
	201,000		Taiwan Semiconductor Co Ltd		283
	40,283,358	*	Taiwan Semiconductor Manufacturing Co Ltd		606,026
	1,528,310	*	Taiwan Semiconductor Manufacturing Co Ltd (ADR)		123,900
	1,047,847		Taiwan Surface Mounting Technology Co Ltd		3,797
	268,741		Teradyne, Inc		21,354
	12,514		TES Co Ltd		274
	1,536,359		Texas Instruments, Inc		219,377
	156,200		Tianjin Zhonghuan Semiconductor Co Ltd		510
	157,500		Tianshui Huatian Technology Co Ltd		319
	4,129		Tokai Carbon Korea Co Ltd		336
	139,889		Tokyo Electron Ltd		36,547
	42,600		Tokyo Seimitsu Co Ltd		1,357

150

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	65,000	*	TongFu Microelectronics Co Ltd	$	220
	341,330		Topco Scientific Co Ltd		1,354
	19,513		Toptec Co Ltd		271
	664,473	*	Tower Semiconductor Ltd		12,107
	111,162	*	Tower Semiconductor Ltd (Tel Aviv)		2,064
	6,100		Tri Chemical Laboratories, Inc		712
	1,746,000	*,†	Trony Solar Holdings Co Ltd.		2
	7,119	e	U-Blox AG.		396
	88,035	*	Ultra Clean Holdings		1,889
	51,244		Ulvac, Inc		1,867
	15,641,071		United Microelectronics Corp		15,428
	103,216		Universal Display Corp		18,655
	902,628		Vanguard International Semiconductor Corp		3,020
	77,785	*,e	Veeco Instruments, Inc		908
	190,000	*	Via Technologies, Inc		239
	66,100	*	Visionox Technology, Inc		153
	136,068		Visual Photonics Epitaxy Co Ltd		373
	152,000		ViTrox Corp BHD		446
	464,975		Wafer Works Corp		553
	31,700		Will Semiconductor Ltd		831
	4,900,000		Win Semiconductors Corp		48,859
	1,662,000		Winbond Electronics Corp		810
	28,101		WONIK IPS Co Ltd		799
	123,700		Wuxi Taiji Industry Co Ltd		187
	38,917	*,g	X-Fab Silicon Foundries SE		135
	27,690	*,e,g	X-Fab Silicon Foundries SE		96
	314,162		Xilinx, Inc		32,748
	149,000	*	XinTec, Inc		609
	3,709,000		Xinyi Solar Holdings Ltd		5,913
	65,300		Zhejiang Jingsheng Mechanical & Electrical Co Ltd		296
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		5,846,315
SOFTWARE & SERVICES - 11.4%
	84,840	*	21Vianet Group, Inc (ADR)		1,965
	128,541	*	2U, Inc		4,352
	122,000		360 Security Technology, Inc		299
	88,577	*	8x8, Inc		1,377
	162,102	*	A10 Networks, Inc		1,033
	996,012	e	Accenture plc		225,089
	112,554	*,e	ACI Worldwide, Inc		2,941
	542,090	*	Adobe, Inc		265,857
	72,792	*,g	Adyen NV		134,264
	612,530	*	Afterpay Touch Group Ltd		36,105
	3,340,000	*	AGTech Holdings Ltd		125
	5,596		Ahnlab, Inc		315
	821	*	AI inside, Inc		346
	119,800		Aisino Corp		279
	123,310	*	Akamai Technologies, Inc		13,631
	109,063	*	Alarm.com Holdings, Inc		6,026
	79,451	*,g	Alfa Financial Software Holdings plc		128
	68,969		Alliance Data Systems Corp		2,895
	7,100	*,e	Alpha Systems, Inc		246
	40,162	*,e	Altair Engineering, Inc		1,686
	32,346		Alten		3,064

151

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	77,094	*,e	Alteryx, Inc	$	8,754
	130,848		Altium Ltd		3,402
	552,048		Amadeus IT Holding S.A.		30,659
	135,283	e	Amdocs Ltd		7,767
	26,859	*	American Software, Inc (Class A)		377
	934,889	*	Anaplan, Inc		58,505
	68,508	*	Ansys, Inc		22,418
	174,543		Appen Ltd		4,315
	14,732	*	Appfolio, Inc		2,089
	30,690	*,e	Appian Corp		1,987
	17,600		Argo Graphics, Inc		605
	100,060	*	Aspen Technology, Inc		12,667
	78,733		Asseco Poland S.A.		1,415
	21,997	*,e	Asure Software, Inc		166
	180,159	*	Atlassian Corp plc		32,751
	93,854		Atos Origin S.A.		7,542
	8,244		Aubay		303
	316,392	*	Autodesk, Inc		73,090
	636,697		Automatic Data Processing, Inc		88,813
	148,090	*	Avalara, Inc		18,858
	1,569,407	g	Avast plc		10,655
	313,045	*	Avaya Holdings Corp		4,758
	60,504		Aveva Group plc		3,732
	76,400	*,e	BASE, Inc		8,054
	9,744	*	BasWare Oyj		433
	137,587		Bechtle AG.		27,840
	22,680		Beijing E-Hualu Information Technology Co Ltd		117
	51,970		Beijing Shiji Information Technology Co Ltd		294
	89,400		Beijing Sinnet Technology Co Ltd		295
	66,480	*	Benefitfocus, Inc		745
	12,693	*	BigCommerce Holdings, Inc		1,057
	81,698	*	Bill.Com Holdings, Inc		8,195
	275,595	*	Black Knight, Inc		23,991
	57,522		Blackbaud, Inc		3,211
	491,369	*	Blackberry Ltd (New)		2,255
	97,022	*	Blackline, Inc		8,696
	279,077	*,e	Blue Prism Group plc		4,796
	260,694		Booz Allen Hamilton Holding Co		21,632
	34,730	*	Bottomline Technologies, Inc		1,464
	563,325	*	Box, Inc		9,779
	286,497		Bravura Solutions Ltd		707
	222,643	*	Brightcove, Inc		2,280
	92,000		Broadleaf Co Ltd		478
	164,761		Broadridge Financial Solutions, Inc		21,748
	107,857	*	CACI International, Inc (Class A)		22,991
	416,010	*	Cadence Design Systems, Inc		44,359
	31,737	*	Cafe24 Corp		1,619
	42,870		Cancom SE		2,214
	168,454		Cap Gemini S.A.		21,612
	35,080	*	Cardtronics plc		695
	11,103		Cass Information Systems, Inc		447
	177,411		CDK Global, Inc		7,733
	61,502	*	Cerence Inc		3,006
	159,016	*	Ceridian HCM Holding, Inc		13,143

152

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	219,499	*	CGI, Inc	$	14,899
	17,200	*,e	Change, Inc		1,379
	185,894	*	ChannelAdvisor Corp		2,690
	283,500	*,e	Chatwork Co Ltd		5,435
	654,806	*,e	Check Point Software Technologies		78,799
	13,200,000	*	China Innovationpay Group Ltd		2,785
	23,000		China National Software & Service Co Ltd		282
	75,600		China TransInfo Technology Co Ltd		245
	15,464,000	e	Chinasoft International Ltd		11,291
	1,195,713		Cielo S.A.		837
	90,095		Citrix Systems, Inc		12,407
	481,085	*	Cloudera, Inc		5,239
	996,932	*	Cloudflare, Inc		40,934
	385,681		Cognizant Technology Solutions Corp (Class A)		26,774
	147,047	*	Commvault Systems, Inc		6,000
	117,852		Computacenter plc		3,599
	57,436		Computer Engineering & Consulting Ltd		891
	450,828		Computershare Ltd		3,988
	25,288	e	Comture Corp		635
	702,258	*	Conduent, Inc		2,233
	20,922		Constellation Software, Inc		23,249
	165,830		CoreLogic Inc		11,222
	62,112	*	Cornerstone OnDemand, Inc		2,258
	47,268	*	Coupa Software, Inc		12,963
	38,279	*,g	Crayon Group Holding ASA		501
	221,755	*	Crowdstrike Holdings, Inc		30,451
	51,400		CSG Systems International, Inc		2,105
	108,472	*	CyberArk Software Ltd		11,218
	101,680		Cybozu, Inc		3,212
	532,449		Dassault Systemes S.A.		99,345
	166,964		Data#3 Ltd		794
	243,380	*	Datadog, Inc		24,864
	4,713		Datagroup SE		246
	523,200	*	Descartes Systems Group, Inc		29,803
	5,753		Devoteam S.A.		655
	198,100		DHC Software Co Ltd		298
	11,025	*,e	Digimarc Corp		246
	12,700	e	Digital Arts, Inc		1,041
	1,710,831	e	Digital China Holdings Ltd		1,421
	37,313		Digital Garage, Inc		1,274
	245,767	*	Digital Turbine, Inc		8,046
	158,030	*	DocuSign, Inc		34,014
	134,545	*	Domo, Inc		5,157
	192,966	*	Dropbox, Inc		3,717
	45,300		DTS Corp		964
	20,471	*	Duck Creek Technologies, Inc		930
	17,039		DuzonBIzon Co Ltd		1,518
	169,197		DXC Technology Co		3,020
	869,100	*	Dye & Durham Ltd		14,503
	352,215	*	Dynatrace, Inc		14,448
	24,100	*	Ebase Co Ltd		315
	29,954	e	Ebix, Inc		617
	138,942	e	Econocom Group S.A.		419
	136,676		Edenred		6,136

153

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	24,290	*	eGain Corp	$	344
	82,730	*,e	Elastic NV		8,926
	88,748		Ementor ASA		1,093
	319,003	*,e	EML Payments Ltd		664
	165,745	*	Endurance International Group Holdings, Inc		951
	45,125		Enghouse Systems Ltd		2,466
	46,609	*	Envestnet, Inc		3,596
	40,983	*	EPAM Systems, Inc		13,249
	391,555	g	Equiniti Group plc		574
	42,365	*	Euronet Worldwide, Inc		3,859
	49,389	*	Everbridge, Inc		6,210
	154,746		EVERTEC, Inc		5,371
	57,323	*	Evo Payments, Inc		1,424
	36,587	*	ExlService Holdings, Inc		2,414
	40,981	*	Fair Isaac Corp		17,433
	114,312	*	Fastly, Inc		10,709
	1,571,785		Fidelity National Information Services, Inc		231,382
	108,403	*,†,g	Finablr plc		1
	174,055	*	FireEye, Inc		2,149
	103,787		First Derivatives plc		4,431
	615,012	*	Fiserv, Inc		63,377
	127,719	*,e	Five9, Inc		16,563
	24,400		Fixstars Corp		264
	69,476	*	FleetCor Technologies, Inc		16,542
	11,202		Formula Systems 1985 Ltd		949
	103,148	*	Fortinet, Inc		12,152
	52,709		Fortnox AB		1,589
	181,916	*,e	Freee KK		13,796
	92,982	*	F-Secure Oyj		367
	27,584		FUJI SOFT, Inc		1,422
	226,573		Fujitsu Ltd		30,954
	9,327		Fukui Computer Holdings, Inc		272
	24,100		Future Architect, Inc		501
	62,184	*	Gartner, Inc		7,770
	368,720		GB Group plc		3,339
	700,996	*	GDS Holdings Ltd (ADR)		57,363
	336,205		Genpact Ltd		13,095
	218,506	g	Global Dominion Access S.A.		892
	767,653		Global Payments, Inc		136,320
	102,503	*	Globant S.A.		18,371
	43,400		Glodon Co Ltd		467
	5,700	e	GMO Cloud KK		547
	115,670		GMO internet, Inc		3,030
	96,477		GMO Payment Gateway, Inc		10,335
	246,150	*	GoDaddy, Inc		18,700
	96,195	*,e	GreenSky, Inc		427
	37,016	*,e	GTT Communications, Inc		191
	34,464	*,e	GTY Technology Holdings Inc		91
	16,871	*	Guidewire Software, Inc		1,759
	98,999		Hackett Group, Inc		1,107
	178,892		Hansen Technologies Ltd		500
	1,051,853		HCL Technologies Ltd		11,597
	62,000	*,e	Hennge KK		3,998
	16,890		Hexaware Technologies Ltd		107

154

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	1,622,501	*	Hi Sun Technology China Ltd	$	179
	16,494		Hilan Ltd		720
	213,437	*	HubSpot, Inc		62,373
	395,600	*,e,g	Huifu Payment Ltd		106
	52,868		Hundsun Technologies, Inc		769
	4,837		Hyundai Autoever Corp		255
	13,300	*,e	I3 Verticals, Inc		336
	188,002		Ideagen plc		462
	150,400		Iflytek Co Ltd		761
	149,206	*,e	Indra Sistemas S.A.		1,061
	20,009		Ines Corp		310
	284,686		Inesa Intelligent Tech, Inc - B		143
	25,953		Infocom Corp		999
	3,527,300		Infomart Corp		31,294
	35,987	*,e	Information Services Group, Inc		76
	12,874		Information Services International-Dentsu Ltd		811
	3,280,179		Infosys Technologies Ltd		45,103
	388,000		Inspur International Ltd		97
	116,638		Integrated Research Ltd		297
	18,445	*,e	Intelligent Systems Corp		719
	1,187,779		International Business Machines Corp		144,517
	18,311	*,e	International Money Express Inc		263
	610,686		Intuit, Inc		199,212
	97,199	e	iomart Group plc		445
	191,873		Iress Market Technology Ltd		1,333
	155,727		IT Holdings Corp		3,308
	90,500		Itochu Techno-Science Corp		3,433
	62,258	*	j2 Global, Inc		4,310
	61,362		Jack Henry & Associates, Inc		9,977
	28,314	*,e	Jamf Holding Corp		1,065
	17,400	*	JMDC, Inc		769
	35,657		Justsystems Corp		2,526
	89,027		Kainos Group plc		1,141
	12,886		Kanematsu Electronics Ltd		523
	86,700	*	Kaonavi, Inc		5,316
	237,002		KBR, Inc		5,299
	793,374		Keywords Studios plc		22,276
	76,234		Kginicis Co Ltd		1,325
	158,701	*	Kinaxis, Inc		23,361
	2,337,000		Kingdee International Software Group Co Ltd		6,096
	1,832,161		Kingsoft Corp Ltd		9,231
	17,712	e	LAC Co Ltd		216
	1,214,614	*	Laybuy Group Holdings Ltd		1,309
	3,142,435		Learning Technologies Group plc		5,312
	194,321		Leidos Holdings, Inc		17,324
	417,654	*	Lightspeed POS, Inc		13,381
	359,654	*	Limelight Networks, Inc		2,072
	588,289		Link Administration Holdings Ltd		1,589
	135,986		Linx S.A.		838
	138,081	*	Liveperson, Inc		7,179
	155,730	*	LiveRamp Holdings, Inc		8,062
	78,282	*,g	Locaweb Servicos de Internet S.A.		831
	24,990		Lotte Data Communication Co		747
	95,135	*	Manhattan Associates, Inc		9,084

155

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	52,116		Mantech International Corp (Class A)	$	3,590
	2,276,276		Mastercard, Inc (Class A)		769,768
	36,636		Matrix IT Ltd		861
	70,787		MAXIMUS, Inc		4,843
	66,898	*,e	Medallia, Inc		1,834
	19,000	*,e	Medley, Inc		918
	508,880	*	Megaport Ltd		5,902
	366,774		Micro Focus International plc		1,166
	17,092,967		Microsoft Corp		3,595,164
	8,112	*	MicroStrategy, Inc (Class A)		1,221
	64,080	*,e	Mimecast Ltd		3,007
	58,685		MindTree Ltd		1,067
	24,300		Miroku Jyoho Service Co Ltd		508
	148,059	*	Mitek Systems, Inc		1,886
	20,267		Mitsubishi Research Institute, Inc		854
	74,257	*	MobileIron, Inc		521
	137,979	*	Model N, Inc		4,868
	20,294	*	Money Forward, Inc		1,469
	104,372	*,e	MoneyGram International, Inc		295
	37,371	*,e	MongoDB, Inc		8,652
	81,101		Mphasis Ltd		1,524
	2,143,500		My EG Services BHD		680
	852,000	*,†,e	National Agricultural Holdings Ltd		1
	296,533		NCC Group plc		673
	11,034	*,e	nCino, Inc		879
	2,046,978	*,e	nearmap Ltd		3,514
	238,920		NEC Corp		13,975
	77,743		NEC Networks & System Integration Corp		1,494
	53,920		Nemetschek AG.		3,941
	97,406		NET One Systems Co Ltd		4,426
	57,008	*,g	Netcompany Group A.S.		4,728
	208,537	e	NetEnt AB		1,769
	584,379	g	Network International Holdings plc		2,055
	40,371	*	New Relic, Inc		2,275
	59,800		Newland Digital Technology Co Ltd		140
	482,892	*,e,g	Nexi S.p.A		9,678
	5,002,323	*	NEXTDC Ltd		44,391
	11,599		NHN KCP Corp		678
	165,036		NIC, Inc		3,251
	69,940	*	Nice Systems Ltd		15,857
	111,438	e	Nihon Unisys Ltd		3,516
	16,884		NIIT Technologies Ltd		533
	79,500	e	Nippon System Development Co Ltd		1,562
	382,790		Nomura Research Institute Ltd		11,271
	396,562		NortonLifelock, Inc		8,264
	37,292	e	NS Solutions Corp		1,149
	589,645		NTT Data Corp		7,546
	412,241	*	Nuance Communications, Inc		13,682
	370,106	*	Nutanix, Inc		8,209
	85,000	*	Nuvei Corp		3,589
	23,400	e	OBIC Business Consultants Ltd		1,356
	65,510		Obic Co Ltd		11,521
	181,125	*	Okta, Inc		38,734
	27,555	*	OneSpan, Inc		578

156

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	410,569	e	Open Text Corp	$	17,342
	259,024		Open Text Corp (Toronto)		10,948
	18,600	*	Optim Corp		568
	2,330,620		Oracle Corp		139,138
	56,939	*	Oracle Corp Japan		6,148
	7,438	e	Oro Co Ltd		247
	168,538		Otsuka Corp		8,613
	113,747	*,e	Pagerduty, Inc		3,084
	210,650	*	Pagseguro Digital Ltd		7,944
	67,446	*	Palo Alto Networks, Inc		16,507
	10,806	*,e	Park City Group, Inc		53
	465,626		Paychex, Inc		37,143
	70,918	*	Paycom Software, Inc		22,077
	70,871	*	Paylocity Holding Corp		11,440
	3,796,189	*	PayPal Holdings, Inc		747,963
	28,202	*,e	Paysign Inc		160
	93,994		Pegasystems, Inc		11,377
	50,698	*	Perficient, Inc		2,167
	36,507		Persistent Systems Ltd		664
	688,869	e	Perspecta, Inc		13,399
	12,579	*	PFSweb, Inc		84
	31,831	*,e	Ping Identity Holding Corp		993
	15,400	*,e	PKSHA Technology, Inc		402
	154,836	*	Pluralsight, Inc		2,652
	51,018		POSDATA Co Ltd		302
	6,851	*,e	Priority Technology Holdings Inc		22
	311,216	e	Progress Software Corp		11,415
	517,109	*	Proofpoint, Inc		54,581
	33,587	*	PROS Holdings, Inc		1,073
	154,710	*	PTC, Inc		12,798
	202,424	*	Pushpay Holdings Ltd		1,192
	43,963	*	Q2 Holdings, Inc		4,012
	8,751		QAD, Inc (Class A)		369
	57,155	*,e	Qualys, Inc		5,602
	24,546	*,e	Rackspace Technology, Inc		473
	81,400	e	Rakus Co Ltd		1,460
	56,930	*	Rapid7, Inc		3,486
	171,102	*	RealPage, Inc		9,862
	170,540	*	Repay Holdings Corp		4,008
	22,952		Reply S.p.A		2,645
	18,583	*,e	Rimini Street, Inc		60
	122,921	*	RingCentral, Inc		33,755
	151,794	*	Rosetta Stone, Inc		4,551
	394,890		Sabre Corp		2,571
	1,044,777		Sage Group plc		9,709
	200,203	*	SailPoint Technologies Holding, Inc		7,922
	48,220		Saipens International Corp NV		1,503
	3,462,965	*	salesforce.com, Inc		870,312
	17,172		Samsung SDS Co Ltd		2,486
	19,245		Sangfor Technologies, Inc		600
	15,700	*	Sansan, Inc		1,017
	1,204,653		SAP AG.		187,586
	20,054	e	Sapiens International Corp NV		613
	86,465		Science Applications International Corp		6,781

157

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	28,572	*	Seachange International, Inc	$	25
	25,104	*,e	SecureWorks Corp		286
	3,800	*	Serverworks Co Ltd		249
	804,673	*	ServiceNow, Inc		390,266
	77,579	*,e	ServiceSource International LLC		114
	425,012		Shanghai 2345 Network Holding Group Co Ltd		178
	37,300		Shanghai Baosight Software Co Ltd		398
	60,900		Shenzhen Kingdom Sci-Tech Co Ltd		162
	313,172	*	SHIFT, Inc		46,968
	138,560	*	Shopify, Inc (Class A) (Toronto)		141,696
	7,507	*,e	ShotSpotter, Inc		233
	929,741		Silverlake Axis Ltd		199
	44,967		SimCorp AS		5,899
	39,584	*,e,g	Sinch AB		3,228
	1,483,428	*,e	Slack Technologies, Inc		39,845
	90,866	*	Smartsheet, Inc		4,491
	258,827	*	Smith Micro Software, Inc		965
	10,100	e	Softbank Technology Corp		355
	133,217		Softcat plc		2,071
	57,631		Software AG.		2,843
	37,398	*,e	SolarWinds Corp		761
	88,324	*	Solutions 30 SE		1,854
	440,409		Sonda S.A.		314
	30,300		Sopra Group S.A.		4,803
	91,662	e	Sourcenext Corp		278
	142,224	*	Splunk, Inc		26,757
	54,189	*	Sprout Social, Inc		2,086
	237,861	*	SPS Commerce, Inc		18,522
	405,725	*	Square, Inc		65,951
	324,725		SS&C Technologies Holdings, Inc		19,652
	34,431	*,e	StarTek, Inc		181
	722,925	*	StoneCo Ltd		38,236
	54,649		Sumisho Computer Systems Corp		3,058
	789,224		SUNeVision Holdings Ltd		647
	594,776	*	SVMK, Inc		13,150
	254,727		Switch, Inc		3,976
	75,012	*,e	Sykes Enterprises, Inc		2,566
	104,923	*	Synchronoss Technologies, Inc		316
	992,333	*	Synopsys, Inc		212,339
	77,628	e	Systena Corp		1,354
	370,851		Systex Corp		1,058
	853,145		Tata Consultancy Services Ltd		28,864
	20,828		Tata Elxsi Ltd		365
	401,998	*,g	TeamViewer AG.		19,826
	237,106		Tech Mahindra Ltd		2,552
	95,700		TechMatrix Corp		2,085
	262,494		Technology One Ltd		1,504
	123,526	*	TeleNav, Inc		445
	23,891		Temenos Group AG.		3,211
	282,981	*	Tenable Holdings, Inc		10,683
	85,763	*,e	Teradata Corp		1,947
	19,100		Thunder Software Technology Co Ltd		243
	111,818	e	Tietoenator Oyj		3,091
	15,070		TKC		979

158

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	443,968		Totvus S.A.	$	2,142
	59,522	*	Trade Desk, Inc		30,879
	27,561	*	Trans Cosmos, Inc/Japan		752
	453,000		Travelsky Technology Ltd		974
	162,624	*	Trend Micro, Inc		9,910
	14,879		TTEC Holdings, Inc		812
	7,640	*,e	Tucows, Inc		526
	305,725	*	Twilio, Inc		75,542
	56,984	*	Tyler Technologies, Inc		19,862
	211,012	*	Tyro Payments Ltd		549
	159,137	*	Unifiedpost Group S.A.		4,103
	88,465	*	Unisys Corp		944
	11,982	*	UNITED, Inc		168
	38,482	*	Upland Software, Inc		1,451
	483,385	*	Upwork, Inc		8,430
	395,145		Vakrangee Ltd		155
	27,596	*	Varonis Systems, Inc		3,185
	38,600		Venustech Group, Inc		197
	230,245	*	Verint Systems, Inc		11,093
	400,976	*,e	VeriSign, Inc		82,140
	20,319	*,e	Veritone, Inc		186
	154,905	*	Verra Mobility Corp		1,496
	76,516	e	VirnetX Holding Corp		403
	24,783	*	Virtusa Corp		1,218
	4,211,592	e	Visa, Inc (Class A)		842,192
	57,996	e	VMware, Inc (Class A)		8,332
	133,895		Wangsu Science & Technology Co Ltd		159
	1,178,000	*,e,g	Weimob, Inc		1,594
	331,340	e	Western Union Co		7,101
	37,036	*	WEX, Inc		5,147
	1,083,374		Wipro Ltd		4,610
	135,634		Wisetech Global Ltd		2,540
	59,199	*	Wix.com Ltd		15,087
	57,300	*	Wonders Information Co Ltd		202
	130,788	*	Workday, Inc		28,136
	68,187	*	Workiva, Inc		3,802
	166,420	*,g	Worldline S.A.		13,627
	256,493		Xperi Holding Corp		2,947
	85,751	*,e	Yext, Inc		1,302
	180,896		Yonyou Network Technology Co Ltd		1,020
	365,144	*	Zendesk, Inc		37,581
	45,410	*	Zix Corp		265
	247,999	*	Zoom Video Communications, Inc		116,587
	92,457	*	Zscaler, Inc		13,008
	15,700	*	Zuken, Inc		425
	307,982	*,e	Zuora Inc		3,185
			TOTAL SOFTWARE & SERVICES		12,802,193
TECHNOLOGY HARDWARE & EQUIPMENT - 5.8%
	173,094	*,e	3D Systems Corp		850
	356,922	e	AAC Technologies Holdings, Inc		1,942
	34,000		Accelink Technologies Co Ltd		176
	476,000		Accton Technology Corp		3,683
	1,524,130		Acer, Inc		1,313

159

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	72,600		Addsino Co Ltd	$	228
	82,000		Adlink Technology, Inc		187
	93,550	e	Adtran, Inc		959
	132,098	*	ADVA AG. Optical Networking		935
	42,000		Advanced Ceramic X Corp		570
	191,657		Advantech Co Ltd		1,939
	57,493	*	Agilysys, Inc		1,389
	41,406		Ai Holdings Corp		764
	29,255	*,e	Akoustis Technologies, Inc		239
	481,500		Alps Electric Co Ltd		6,490
	7,072		ALSO Holding AG.		1,873
	64,750		Amano Corp		1,506
	262,280		Amphenol Corp (Class A)		28,397
	383,793	e	Anritsu Corp		8,746
	34,129,161	d,n	Apple, Inc		3,952,498
	30,491	*,e	Applied Optoelectronics, Inc		343
	129,409		Arcadyan Technology Corp		383
	61,646	*	Arista Networks, Inc		12,756
	403,944	*	Arlo Technologies, Inc		2,125
	110,030	*	Arrow Electronics, Inc		8,655
	206,000		Asia Optical Co, Inc		461
	261,000		Asia Vital Components Co Ltd		609
	39,000		ASROCK, Inc		240
	362,444		Asustek Computer, Inc		3,189
	80,000		Aten International Co Ltd		229
	4,470,593		AU Optronics Corp		1,741
	25,030		Audiocodes Ltd		794
	59,000		AURAS Technology Co Ltd		492
	35,598		Aurora Corp		104
	28,598		Austria Technologie & Systemtechnik AG.		540
	59,400		AVIC Jonhon Optronic Technology Co Ltd		405
	43,449	*,e	Avid Technology, Inc		372
	162,948		Avnet, Inc		4,211
	41,509		Badger Meter, Inc		2,713
	75,482		Barco NV		1,584
	4,178		Basler AG.		247
	7,104		Bel Fuse, Inc (Class B)		76
	69,718	e	Belden CDT, Inc		2,170
	57,110		Benchmark Electronics, Inc		1,151
	3,462,798		Benq Corp		2,226
	21,469	*	BH Co Ltd		388
	1,085,300		BOE Technology Group Co Ltd		788
	173,745		Brother Industries Ltd		2,764
	345,000	e	BYD Electronic International Co Ltd		1,751
	43,291	*	CalAmp Corp		311
	338,194	*	Calix, Inc		6,013
	24,156	*	Cambium Networks Corp		407
	198,000	†,e	Camsing International Holding Ltd		0	^
	21,400	*	Canon Electronics, Inc		300
	51,490		Canon Marketing Japan, Inc		1,033
	807,048		Canon, Inc		13,386
	401,996		Career Technology Co Ltd		378
	43,835	g	Carel Industries S.p.A		926
	28,569	*,e	Casa Systems, Inc		115

160

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	159,943		Casetek Holdings Ltd	$	479
	353,857		Catcher Technology Co Ltd		2,236
	405,980		CDW Corp		48,527
	246,598	*	Celestica, Inc		1,704
	120,900		Chaozhou Three-Circle Group Co Ltd		515
	28,000		Chaun-Choung Technology Corp		251
	1,193,481		Cheng Uei Precision Industry Co Ltd		1,699
	286,977		Chicony Electronics Co Ltd		838
	210,179		Chilisin Electronics Corp		724
	489,600	*,†	China Fiber Optic Network System Group Ltd		1
	155,100		China Greatwall Technology Group Co Ltd		367
	1,039,000	g	China Railway Signal & Communication Corp Ltd		343
	315,000		Chin-Poon Industrial Co		317
	340,840		Chroma ATE, Inc		1,817
	18,000		Chunghwa Precision Test Tech Co Ltd		439
	301,296	*	Ciena Corp		11,958
	9,714,362	n	Cisco Systems, Inc		382,649
	300,100		Citizen Watch Co Ltd		842
	9,929	*,e	Clearfield, Inc		200
	365,393		Clevo Co		368
	940,743		CMC Magnetics Corp		255
	46,500	*	CMK Corp		214
	240,233		Cognex Corp		15,639
	22,589	*	Coherent, Inc		2,506
	1,684,312	e	Comba Telecom Systems Holdings Ltd		601
	7,872		Comet Holding AG.		1,207
	1,947,170	*	CommScope Holding Co, Inc		17,525
	2,044,388		Compal Electronics, Inc		1,352
	2,955,000		Compeq Manufacturing Co		4,206
	53,739		Comtech Telecommunications Corp		752
	93,249		Concraft Holding Co Ltd		275
	355,600		Coretronic Corp		412
	803,466		Corning, Inc		26,040
	48,191		CTS Corp		1,062
	55,740		Daea TI Co Ltd		334
	17,502		Daeduck Electronics Co		92
	34,594	*	Daeduck Electronics Co Ltd		315
	11,533	*	Dai-ichi Seiko Co Ltd		239
	91,114		Daiwabo Co Ltd		5,894
	47,472	e	Daktronics, Inc		188
	180,421		Darfon Electronics Corp		237
	16,600	e	Datalogic S.p.A.		231
	155,295		DataTec Ltd		205
	71,780		Dawning Information Industry Co Ltd		400
	1,354,204	*	Dell Technologies, Inc		91,666
	984,999		Delta Electronics, Inc		6,468
	10,199		Denki Kogyo Co Ltd		254
	56,401		Dexerials Corp		594
	54,770		Dicker Data Ltd		303
	189,318	*	Diebold, Inc		1,446
	58,719	*	Digi International, Inc		918
	57,381		Dolby Laboratories, Inc (Class A)		3,803
	11,250	*	Doosan Solus Co Ltd		378
	17,530	*,e	DZS, Inc		164

161

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	21,225	*,e	Eastman Kodak Co	$	187
	66,840	*	EchoStar Corp (Class A)		1,664
	55,000		Egis Technology, Inc		322
	16,624		Eizo Nanao Corp		647
	23,448		Elecom Co Ltd		1,153
	2,205,758		Electrocomponents plc		20,218
	19,400		Elematec Corp		183
	258,270		Elite Material Co Ltd		1,313
	54,704		Ennoconn Corp		441
	10,200		Enplas Corp		218
	66,210	*	ePlus, Inc		4,847
	4,382,586		Ericsson (LM) (B Shares)		47,960
	18,601		ESPEC Corp		332
	29,476		Evertz Technologies Ltd		252
	305,228	*,e	Extreme Networks, Inc		1,227
	69,751	*	F5 Networks, Inc		8,563
	158,173	*,e	Fabrinet		9,970
	49,292	*	FARO Technologies, Inc		3,006
	50,400		Fiberhome Telecommunication Technologies Co Ltd		177
	3,713,117	*,e	FIH Mobile Ltd		531
	330,274	*,e	Fingerprint Cards AB		658
	205,633		Firich Enterprises Co Ltd		186
	260,395	*	Fitbit, Inc		1,812
	306,392		FLEXium Interconnect, Inc		1,296
	191,994		FLIR Systems, Inc		6,883
	104,310		Flytech Technology Co Ltd		222
	9,222,653		Foxconn Industrial Internet Co Ltd		18,503
	1,498,266		Foxconn Technology Co Ltd		2,678
	26,100		Fujian Star-net Communication Co Ltd		98
	305,729		Fujifilm Holdings Corp		15,070
	227,000		General Interface Solution Holding Ltd		985
	74,378		Genius Electronic Optical Co Ltd		1,522
	351,271		Getac Technology Corp		556
	487,123		Gigabyte Technology Co Ltd		1,279
	34,558		Gilat Satellite Networks Ltd		194
	13,488,000	e	Glory Sun Financial Group Ltd		611
	102,700		GoerTek, Inc		614
	325,000	*	Gold Circuit Electronics Ltd		506
	146,300		GRG Banking Equipment Co Ltd		263
	307,200		Guangdong LY Intelligent Manufacturing Co Ltd		509
	127,700		Guangzhou Haige Communications Group, Inc Co		220
	40,793		Guangzhou Shiyuan Electronic Technology Co Ltd		585
	802,714		Halma plc		24,251
	115,184		Hamamatsu Photonics KK		5,821
	524,600		Hana Microelectronics PCL (Foreign)		724
	8,445,233		Hangzhou Hikvision Digital Technology Co Ltd		47,536
	1,081,365		Hannstar Board Corp		1,480
	2,351,330		HannStar Display Corp		695
	140,429	*	Harmonic, Inc		784
	77,100		Hengtong Optic-electric Co Ltd		164
	890,735		Hewlett Packard Enterprise Co		8,346
	162,931		Hexagon AB (B Shares)		12,307
	7,535	*	HFR, Inc		229
	636,000		High Tech Computer Corp		632

162

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	10,200		Hioki EE Corp	$	402
	22,558		Hirose Electric Co Ltd		2,915
	3,027,009	*	Hitachi Ltd		102,493
	31,989	e	HMS Networks AB		731
	13,239		Hochiki Corp		162
	92,100		Holitech Technology Co Ltd		68
	124,470		Holystone Enterprise Co Ltd		438
	6,340,633		Hon Hai Precision Industry Co, Ltd		17,047
	39,699		Horiba Ltd		2,076
	98,000		Hosiden Corp		886
	1,014,181		HP, Inc		19,259
	22,300		Huagong Tech Co Ltd		75
	25,227	*,e	Huami Corp (ADR)		324
	20,040		Hubei Kaile Science & Technology Co Ltd		35
	2,251,510		Ibiden Co Ltd		76,725
	9,100		Icom, Inc		238
	104,756		IEI Integration Corp		156
	157,887	*,e	II-VI, Inc		6,404
	22,199		Iljin Materials Co Ltd		856
	16,425	*,e	Immersion Corp		116
	2,467,870		Inari Amertron BHD		1,364
	1,875		Inficon Holding AG.		1,554
	193,390	*,e	Infinera Corp		1,191
	50,964	e	Ingenico		7,896
	61,200		Innodisk Corp		338
	4,617,419		InnoLux Display Corp		1,507
	55,823	*,e	Inseego Corp		576
	81,771	*	Insight Enterprises, Inc		4,627
	71,040		Inspur Electronic Information Industry Co Ltd		319
	93,412	*,e	Intellicheck, Inc		623
	40,199		InterDigital, Inc		2,294
	20,746	*,e	Intevac, Inc		114
	1,196,935		Inventec Co Ltd		932
	31,432	*	IPG Photonics Corp		5,342
	20,900	e	Iriso Electronics Co Ltd		850
	15,300		ITC Networks Corp		172
	202,820		ITEQ Corp		868
	71,561	*	Iteris, Inc		293
	50,135	*	Itron, Inc		3,045
	22,716		Ituran Location and Control Ltd		316
	200,843		Jabil Inc		6,881
	51,942		Japan Aviation Electronics Industry Ltd		719
	668,094	*,e	Japan Display, Inc		346
	59,202		Jenoptik AG.		1,587
	388,022		Juniper Networks, Inc		8,342
	17,800		Kaga Electronics Co Ltd		380
	6,211		Kapsch TrafficCom AG.		90
	756,800		KCE Electronics PCL		728
	207,662		Keyence Corp		97,078
	472,114	*	Keysight Technologies, Inc		46,635
	74,372	*	Kimball Electronics, Inc		860
	327,000		Kingboard Chemical Holdings Ltd		1,082
	1,107,500		Kingboard Laminates Holdings Ltd		1,533
	23,752	*,e	KMW Co Ltd		1,587

163

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	253,846	*	Knowles Corp	$	3,782
	29,400		Koa Corp		318
	536,900	e	Konica Minolta Holdings, Inc		1,523
	22,809	*,e	KVH Industries, Inc		205
	232,893		Kyocera Corp		13,335
	16,011		L&F Co Ltd		564
	24,138		Landis&Gyr Group AG.		1,314
	51,366		Largan Precision Co Ltd		6,015
	638,300	e,g	Legend Holdings Corp		778
	512		LEM Holding S.A.		959
	16,453,653		Lenovo Group Ltd		10,879
	169,500		Lens Technology Co Ltd		808
	58,544		Leyard Optoelectronic Co Ltd		67
	6,823		LG Innotek Co Ltd		900
	121,296	*	LG.Philips LCD Co Ltd		1,589
	1,022,160		Lite-On Technology Corp		1,637
	34,446		Littelfuse, Inc		6,109
	191,371	e	Logitech International S.A.		14,824
	69,995		Lotes Co Ltd		1,123
	29,144		LPKF Laser & Electronics AG.		772
	111,240	*	Lumentum Holdings, Inc		8,357
	25,823	*,e	Luna Innovations, Inc		154
	401,709		Luxshare Precision Industry Co Ltd		3,392
	50,507		Macnica Fuji Electronics Holdings, Inc		926
	9,700		Maruwa Co Ltd		900
	50,600		Maxell Holdings Ltd		523
	7,000		Maxscend Microelectronics Co Ltd		390
	74,291		Mcj Co Ltd		680
	11,291		Mcnex Co Ltd		349
	21,100	e	Meiko Electronics Co		354
	1,908,500	*,g	Meitu, Inc		356
	5,165	*	Melco Holdings, Inc		117
	498,076		Merry Electronics Co Ltd		2,560
	54,389		Methode Electronics, Inc		1,550
	85,038	e	Micronic Laser Systems AB		2,001
	341,000		Micro-Star International Co Ltd		1,574
	811,893		Mitac Holdings Corp		808
	290,156		Motorola Solutions, Inc		45,499
	43,341		MTS Systems Corp		828
	782,022		Murata Manufacturing Co Ltd		50,853
	216,000		Nan Ya Printed Circuit Board Corp		889
	10,660	*	Napco Security Technologies, Inc		250
	264,968		National Instruments Corp		9,459
	25,300		NAURA Technology Group Co Ltd		597
	101,030	*,e	NCR Corp		2,237
	36,611		Neopost S.A.		496
	166,923		NetApp, Inc		7,318
	47,579	*	Netgear, Inc		1,466
	107,596	*	Netscout Systems, Inc		2,349
	94,412	*	Newmax Technology Co Ltd		133
	52,750		Nichicon Corp		405
	55,600		Ninestar Corp		234
	21,000		Nippon Ceramic Co Ltd		525
	194,176		Nippon Electric Glass Co Ltd		3,629

164

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	46,256	e	Nippon Signal Co Ltd	$	458
	42,960		Nissha Printing Co Ltd		536
	49,054	*	nLight, Inc		1,152
	24,072		Nohmi Bosai Ltd		552
	1		Nokia Corp (ADR)		0	^
	5,402,206	*	Nokia Oyj (Turquoise)		21,143
	46,524	*	Novanta, Inc		4,901
	84,400		O-film Tech Co Ltd		180
	93,136		Oki Electric Industry Co Ltd		1,005
	281,099		Omron Corp		21,978
	469,000		O-Net Communications Group		393
	36,079		Optex Co Ltd		582
	7,380		OptoElectronics Solutions Co Ltd		354
	44,100		Osaki Electric Co Ltd		257
	74,934	*	OSI Systems, Inc		5,816
	351,224		Pan-International Industrial		212
	12,182	*,e	PAR Technology Corp		493
	34,400		Partron Co Ltd		298
	692,256		PAX Global Technology Ltd		417
	16,013		PC Connection, Inc		657
	31,871	e	PC-Tel, Inc		180
	984,817		Pegatron Technology Corp		2,187
	43,814	e	Plantronics, Inc		519
	30,294	*	Plexus Corp		2,140
	41,047	*,e	Powerfleet, Inc		231
	356,414		Primax Electronics Ltd		530
	8,058,000		Prime View International Co Ltd		10,661
	11,736,400		PT Erajaya Swasembada Tbk		1,225
	359,879	*	Pure Storage, Inc		5,539
	1,466,838		Quanta Computer, Inc		3,852
	177,000		Quanta Storage, Inc		228
	48,474	*,e	Quantum Corp		223
	46,169	*	Radware Ltd		1,119
	237,400		Redington India Ltd		381
	40,573		Renishaw plc		2,934
	24,566	*,e	Research Frontiers, Inc		66
	95,623	*,e	Resonant, Inc		228
	22,047		Restar Holdings Corp		456
	139,990	*,e	Ribbon Communications, Inc		542
	575,903	e	Ricoh Co Ltd		3,887
	14,726		Riken Keiki Co Ltd		407
	21,498		Riso Kagaku Corp		298
	1,164,202	*	Ritek Corp		225
	44,613	*,e	Rogers Corp		4,375
	21,133		Ryosan Co Ltd		424
	16,500	e	Ryoyo Electro Corp		458
	50,682		S&T AG.		1,060
	6,629		SAES Getters S.p.A.		187
	365,458		Samsung Electro-Mechanics Co Ltd		43,310
	6,240,169		Samsung Electronics Co Ltd		309,788
	418,216		Samsung Electronics Co Ltd (Preference)		18,000
	27,841		Samsung SDI Co Ltd		10,285
	7,016		Samwha Capacitor Co Ltd		327
	221,838	*	Sanmina Corp		6,001

165

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	11,000		Sanshin Electronics Co Ltd	$	213
	38,003	*	Scansource, Inc		754
	1,411		Seagate Technology, Inc		70
	228,160	e	Seiko Epson Corp		2,624
	9,690	*,g	Sensirion Holding AG.		507
	11,864		Seojin System Co Ltd		461
	212,419		Sercomm Corp		534
	23,719		Sesa S.p.A		2,380
	16,842		SFA Engineering Corp		548
	137,000		Shengyi Technology Co Ltd		472
	23,133		Shennan Circuits Co Ltd		400
	80,900		Shenzhen Kaifa Technology Co Ltd		247
	57,300		Shenzhen Sunway Communication Co Ltd		462
	156,070		Shimadzu Corp		4,750
	27,800	*,e	Shinko Shoji Co Ltd		242
	39,783	*,e	Sierra Wireless, Inc		444
	31,300		Siix Corp		369
	677,907		Simplo Technology Co Ltd		7,039
	490,423		Sinbon Electronics Co Ltd		3,053
	167,880	e	Smart Metering Systems plc		1,410
	859,350	e	Softwareone Holding AG.		23,948
	132,748		Spectris plc		4,168
	1,063,258		Spirent Communications plc		3,910
	87,973		Sterlite Technologies Ltd		179
	210,085	e	Strix Group plc		659
	359,800		Sunny Optical Technology Group Co Ltd		5,589
	60,894	*,e	Super Micro Computer, Inc		1,608
	347,985		Supreme Electronics Co Ltd		355
	86,600		Suzhou Dongshan Precision Manufacturing Co Ltd		340
	102,250		Syncmold Enterprise Corp		298
	84,476		Synnex Corp		11,832
	672,413		Synnex Technology International Corp		964
	16,100	*	Tachibana Eletech Co Ltd		289
	226,000		Taiwan Union Technology Corp		880
	130,040	e	Taiyo Yuden Co Ltd		4,096
	78,500		Tamura Corp		400
	93,223		TDK Corp		10,179
	1,572,768		TE Connectivity Ltd		153,722
	65,877	*	TELCON, Inc		437
	1,378,132	e	Telefonaktiebolaget Lm Ericsson (ADR)		15,008
	140,495		Test Research, Inc		278
	68,000		Thinking Electronic Industrial Co Ltd		234
	39,300		Tianjin 712 Communication & Broadcasting Co Ltd		260
	83,600		Tianma Microelectronics Co Ltd		182
	96,094	*	Tobii AB		567
	186,625		Tong Hsing Electronic Industries Ltd		866
	3,490,000	e	Tongda Group Holdings Ltd		189
	110,456		Topcon Corp		1,015
	30,285		Toshiba TEC Corp		1,270
	1,536,000	*	TPK Holding Co Ltd		2,616
	181,000		Transcend Information, Inc		394
	227,872	*	Trimble Inc		11,097
	1,147,574		Tripod Technology Corp		4,399
	1,560,000	*,e	Truly International Holdings		179

166

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	229,632	*	TTM Technologies, Inc	$	2,620
	496,800		Tunghsu Optoelectronic Technology Co Ltd		222
	270,039		TXC Corp		677
	12,414		Ubiquiti, Inc		2,069
	35,400		Unigroup Guoxin Microelectronics Co Ltd		623
	1,602,613		Unimicron Technology Corp		4,156
	167,440		Unisplendour Corp Ltd		628
	502,500		Unitech Printed Circuit Board Corp		370
	85,900		Universal Scientific Industrial Shanghai Co Ltd		325
	9,505	e	V Technology Co Ltd		402
	257,000		Venture Corp Ltd		3,649
	83,631	*	Viasat, Inc		2,876
	480,716	*	Viavi Solutions, Inc		5,639
	202,900		Vishay Intertechnology, Inc		3,159
	90,637	*	Vishay Precision Group, Inc		2,295
	2,169,714		VS Industry BHD		1,193
	1,473,042		VST Holdings Ltd		979
	200,485		Vtech Holdings Ltd		1,251
	159,400		Wacom Co Ltd		1,053
	154,136		Wah Lee Industrial Corp		299
	154,000		Walsin Technology Corp		830
	430,000		Wasion Group Holdings Ltd		121
	387,402		Western Digital Corp		14,160
	53,900		Westone Information Industry, Inc		147
	48,700		Wingtech Technology Co Ltd		840
	190,500	*,†,b	Wintek Corp		0
	16,820		WiSoL Co Ltd		228
	1,429,013		Wistron Corp		1,482
	271,372		Wistron NeWeb Corp		721
	71,000		Wiwynn Corp		1,614
	728,593		WPG Holdings Co Ltd		982
	7,815	*,e	Wrap Technologies Inc		53
	730,783		WT Microelectronics Co Ltd		955
	87,090		Wuhan Guide Infrared Co Ltd		443
	153,700		Wuhu Token Science Co Ltd		228
	79,700		WUS Printed Circuit Kunshan Co Ltd		221
	48,700		Wuxi Lead Intelligent Equipment Co Ltd		349
	122,912		Xerox Holdings Corp		2,307
	5,343,400	*,g	Xiaomi Corp		14,465
	15,750	*,†	Ya Hsin Industrial Co Ltd		0
	2,293,994		Yageo Corp		28,169
	139,426		Yamatake Corp		5,224
	168,798	e	Yaskawa Electric Corp		6,604
	35,850		Yealink Network Technology Corp Ltd		319
	160,609		Yokogawa Electric Corp		2,551
	16,384	e	Yokowo Co Ltd		430
	75,859	*	Zebra Technologies Corp (Class A)		19,151
	198,400		Zhejiang Dahua Technology Co Ltd		601
	277,485		Zhen Ding Technology Holding Ltd		1,218
	237,800		ZTE Corp		1,162
	378,018		ZTE Corp (Class H)		909
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		6,572,085

167

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
TELECOMMUNICATION SERVICES - 1.9%
	604,389		Advanced Info Service PCL (Foreign)	$	3,274
	20,776		AFK Sistema		111
	168,893		AFK Sistema (London)		905
	86,934		Alaska Communications Systems Group, Inc		174
	32,114,936		America Movil S.A. de C.V. (Series L)		20,159
	60,672	*	Anterix, Inc		1,985
	28,300		ARTERIA Networks Corp		492
	1,775,929	*	Asia Pacific Telecom Co Ltd		586
	12,961,973		AT&T, Inc		369,546
	17,757		ATN International, Inc		890
	838,720	*,e	Axtel SAB de C.V.		267
	52,203	*	Bandwidth Inc		9,113
	143,140		BCE, Inc		5,936
	2,319,094	*	Bezeq Israeli Telecommunication Corp Ltd		2,687
	2,506,810		Bharti Airtel Ltd		14,333
	171,746		Bharti Infratel Ltd		409
	123,243	*	Boingo Wireless, Inc		1,256
	8,289,659		BT Group plc		10,500
	92,981	*	Cellcom Israel Ltd		379
	543,027	g	Cellnex Telecom SAU		32,963
	1,561,104		CenturyLink, Inc		15,752
	23,000		Chief Telecom, Inc		275
	3,137,249		China Mobile Hong Kong Ltd		20,139
	6,979,057		China Telecom Corp Ltd		2,097
	51,885,720	g	China Tower Corp Ltd		9,027
	15,486,081		China Unicom Ltd		10,165
	1,842,175		China United Network Communications Ltd		1,317
	492,322		Chorus Ltd		2,821
	1,961,188		Chunghwa Telecom Co Ltd		7,248
	72,085	*	Cincinnati Bell, Inc		1,081
	4,835,641		Citic 1616 Holdings Ltd		1,547
	174,855		Cogent Communications Group, Inc		10,500
	76,432	*	Consolidated Communications Holdings, Inc		435
	3,760,758		Deutsche Telekom AG.		62,617
	1,502,939		Digi.Com BHD		1,461
	132,635		Elisa Oyj (Series A)		7,798
	1,679,701		Emirates Telecommunications Group Co PJSC		7,634
	120,767		Empresa Nacional de Telecomunicaciones S.A.		752
	350,301	*	Etihad Etisalat Co		2,671
	137,807	g	Euskaltel S.A.		1,455
	819,336		Far EasTone Telecommunications Co Ltd		1,730
	143,297		Freenet AG.		2,895
	182,375	*	GCI Liberty, Inc		14,947
	16,546		Globe Telecom, Inc		710
	38,906	*,e	Gogo, Inc		359
	101,814	*	GoodRx Holdings, Inc		5,661
	122,350		Hellenic Telecommunications Organization S.A.		1,762
	832,620		HKBN Ltd		1,589
	3,527,079		HKT Trust and HKT Ltd		4,682
	1,665,607		Hutchison Telecommunications Hong Kong Holdings Ltd		257
	627,043	*	IAC		75,107
	8,241,973	*	Idea Cellular Ltd		1,070
	26,218	*,e	IDT Corp (Class B)		173

168

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	13,792		Iliad S.A.	$	2,530
	225,257	g	Infrastrutture Wireless Italiane S.p.A		2,485
	28,062		Internet Initiative Japan, Inc		1,263
	2,121,193		Intouch Holdings PCL (Class F)		3,464
	132,433	*	Iridium Communications, Inc		3,388
	3,600,885		Jasmine International PCL		324
	31,327		Jereissati Participacoes S.A.		117
	1,764,590		KDDI Corp		44,382
	4,234,966		Koninklijke KPN NV		9,937
	222,725	*,†,e	Let’s GOWEX S.A.		3
	103,409		LG Telecom Ltd		1,016
	231,307	*	Liberty Latin America Ltd (Class A)		1,908
	514,813	*,e	Liberty Latin America Ltd (Class C)		4,191
	531,402		Magyar Telekom		621
	1,160,990		Maxis BHD		1,421
	113,225		Millicom International Cellular S.A.		3,421
	274,354	*	Mobile Telecommunications Co Saudi Arabia		992
	239,414		Mobile TeleSystems (ADR)		2,090
	79,465		Mobistar S.A.		1,281
	1,621,607	e	MTN Group Ltd		5,441
	3,433,166		NetLink NBN Trust		2,458
	1,781,326		Nippon Telegraph & Telephone Corp		36,369
	1,468,716		NTT DoCoMo, Inc		53,970
	74,842	*	Ooma, Inc		977
	388,366		Ooredoo QSC		715
	2,053,246	*	Orange S. A.		21,386
	183,050	*	ORBCOMM, Inc		622
	146,778	*	Partner Communications		575
	3,975,327		PCCW Ltd		2,378
	407,976	g	PLAY Communications S.A.		4,077
	41,277		PLDT, Inc		1,134
	142,288		Proximus plc		2,596
	1,742,600		PT Excelcomindo Pratama		239
	1,736,400	*	PT Indosat Tbk		233
	942,629		PT Link Net Tbk		112
	25,312,524		PT Telekomunikasi Indonesia Persero Tbk		4,371
	329,968		Rogers Communications, Inc (Class B)		13,089
	33,013		Rostelecom (ADR)		247
	136,263		Rostelecom (ADR) (OTC US)		1,026
	574,511		Saudi Telecom Co		15,406
	80,054		Shenandoah Telecom Co		3,557
	8,308,905		Singapore Telecommunications Ltd		12,909
	210,200		Singapore Telecommunications Ltd		329
	20,349		SK Telecom Co Ltd		4,137
	390,141		SmarTone Telecommunications Holding Ltd		208
	2,046,940		Softbank Corp		22,873
	1,593,616		Softbank Group Corp		98,604
	50,704		Spok Holdings, Inc		482
	694,514		StarHub Ltd		612
	39,634	e,g	Sunrise Communications Group AG.		4,689
	24,169	e	Swisscom AG.		12,804
	861,842		Taiwan Mobile Co Ltd		2,881
	781,659	e	TalkTalk Telecom Group plc		807
	63,585		Tata Communications Ltd		733

169

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	465,752	e	Tele2 AB (B Shares)	$	6,567
	66,876		Telecom Argentina S.A. (ADR) (Class B)		437
	1,710,514		Telecom Corp of New Zealand Ltd		5,337
	708,133		Telecom Egypt		526
	5,572,358		Telecom Italia RSP		2,250
	7,747,915	e	Telecom Italia S.p.A.		3,105
	432,499		Telefonica Brasil S.A.		3,344
	978,206		Telefonica Deutschland Holding AG.		2,500
	5,105,279		Telefonica S.A.		17,488
	252,864	e	Telekom Austria AG.		1,788
	559,402		Telekom Malaysia BHD		557
	304,235	*	Telekomunikacja Polska S.A.		538
	672,722		Telenor ASA		11,294
	144,700		Telephone & Data Systems, Inc		2,668
	1,279,169	*,e	Telesites SAB de C.V.		1,151
	2,900,718		TeliaSonera AB		11,867
	279,320		Telkom S.A. Ltd		437
	4,325,124		Telstra Corp Ltd		8,660
	389,192		TELUS Corp		6,848
	790,984		Tim Participacoes S.A.		1,839
	316,827		Time dotCom BHD		916
	1,493,186		TM International BHD		1,063
	2,857,464	*	T-Mobile US, Inc		326,780
	332,400		Total Access Communication PCL (Foreign)		340
	9,679,900		Tower Bersama Infrastructure		872
	343,706	*	TPG Telecom Ltd		1,814
	5,509,270		True Corp PCL (Foreign)		542
	545,730		Turkcell Iletisim Hizmet AS		1,064
	101,044		United Internet AG.		3,864
	19,307	*	US Cellular Corp		570
	68,800	*,e	V-Cube, Inc		1,192
	7,354,855		Verizon Communications, Inc		437,540
	926,142	*,e	Vision, Inc		7,223
	628,187	*	Vocus Communications Ltd		1,614
	620,015		Vodacom Group Pty Ltd		4,547
	30,639,609		Vodafone Group plc		40,611
	1,603,560		Vodafone Qatar		560
	371,590	*	Vonage Holdings Corp		3,801
			TOTAL TELECOMMUNICATION SERVICES		2,095,693
TRANSPORTATION - 2.0%
	52,528	*,†,e	Abertis Infraestructuras S.A. (Continuous)		1,131
	22,896		Aegean Airlines S.A.		83
	61,795	g	Aena S.A.		8,604
	117,429	g	Aeroflot PJSC (GDR)		573
	27,738		Aeroports de Paris		2,752
	2,160,716		Air Arabia PJSC		660
	554,868	*	Air Canada		6,538
	141,600		Air China Ltd		148
	1,035,325		Air China Ltd (H shares)		682
	217,209	*,e	Air France-KLM		748
	636,911	e	Air New Zealand Ltd		581
	71,267	*	Air Transport Services Group, Inc		1,786
	1,283,900	*	AirAsia BHD		208

170

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	6,607,500		Airports of Thailand PCL (ADR)	$	11,839
	2,083,400		Airports of Thailand PCL (Foreign)		3,733
	290,701		Alaska Air Group, Inc		10,648
	113,963	e,g	ALD S.A.		1,052
	126,333	e	All Nippon Airways Co Ltd		2,922
	19,990		Allegiant Travel Co		2,395
	13,251		Amerco, Inc		4,717
	661,872	e	American Airlines Group, Inc		8,134
	380,000		Anhui Expressway Co		189
	5,945		AP Moller - Maersk AS (Class A)		8,702
	6,489		AP Moller - Maersk AS (Class B)		10,258
	43,891		ArcBest Corp		1,363
	1,630,200	*	Asia Aviation PCL (ADR)		93
	519,700	*	Asia Aviation PCL (Foreign)		30
	113,630	*	Asiana Airlines		378
	40,903	*	Atlas Air Worldwide Holdings, Inc		2,491
	975,356		Atlas Arteria Ltd		4,284
	98,759	e	Atlas Corp		883
	1,165,299		Auckland International Airport Ltd		5,656
	69,540		Autostrada Torino-Milano S.p.A.		1,455
	461,855		Autostrade S.p.A.		7,233
	48,053	*	Avis Budget Group, Inc		1,265
	255,575	*	Azul S.A.		1,110
	540,200		Bangkok Airways Co Ltd		91
	167,700		Bangkok Aviation Fuel Services PCL		109
	6,993,353		Bangkok Expressway & Metro PCL		1,898
	1,137,297		Beijing Capital International Airport Co Ltd		688
	629,000		Beijing-Shanghai High Speed Railway Co Ltd		542
	210,100	*,e	BEST, Inc (ADR)		630
	3,964		Blue Dart Express Ltd		172
	818,992		Bollore		3,051
	113,464		bpost S.A.		994
	7,173,057		BTS Group Holdings PCL		2,151
	752,681		Canadian National Railway Co		80,160
	128,008		Canadian Pacific Railway Ltd (Toronto)		38,939
	624,000	*,e	CAR, Inc		201
	106,960	e	Cathay Pacific Airways Ltd		74
	184,340		Cebu Air, Inc		144
	170,045		Central Japan Railway Co		24,374
	192,688		CH Robinson Worldwide, Inc		19,691
	2,146,000		China Airlines		617
	1,283,000	*	China COSCO Holdings Co Ltd		633
	319,900		China Eastern Airlines Corp Ltd		233
	1,082,000	e	China Eastern Airlines Corp Ltd (H Shares)		465
	821,081	e	China Merchants Holdings International Co Ltd		843
	978,000	e	China Southern Airlines Co Ltd		531
	256,100		China Southern Airlines Co Ltd (Class A)		219
	86,480	e	Chorus Aviation, Inc		144
	1,127,778		Cia de Concessoes Rodoviarias		2,544
	115,174		Cia de Distribucion Integral Logista Holdings SAU		1,966
	614,087		Cia de Locacao das Americas		2,597
	2,450,000		ComfortDelgro Corp Ltd		2,546
	34,599,001	*	Compania SudAmericana de Vapores S.A.		928
	121,926		Container Corp Of India Ltd		608

171

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	641,475	*	Controladora Vuela Cia de Aviacion SAB de C.V.	$	465
	40,922		Copa Holdings S.A. (Class A)		2,060
	31,367	*,e	Corp America Airports S.A.		70
	127,941	*	Cosan Logistica S.A.		403
	1,299,600	*	Cosco Corp Singapore Ltd		178
	517,120		Cosco International Holdings Ltd		146
	992,195		COSCO Pacific Ltd		570
	230,500		COSCO SHIPPING Development Co Ltd		71
	476,300	*	COSCO SHIPPING Holdings Co Ltd		402
	110,863	e	Costamare, Inc		673
	57,854	*	Covenant Transportation Group, Inc		1,012
	1,668,107		CSX Corp		129,562
	135,212		CTT-Correios de Portugal S.A.		400
	50,820		D/S Norden		826
	492,600		Daqin Railway Co Ltd		462
	130,465		Dart Group plc		1,130
	140,770	*	Daseke, Inc		756
	1,032,089		Delta Air Lines, Inc		31,561
	278,521	e	Deutsche Lufthansa AG.		2,412
	1,075,855		Deutsche Post AG.		48,818
	39,608		Dfds A.S.		1,329
	558,628		DSV AS		90,611
	12,829	*,e	Eagle Bulk Shipping, Inc		210
	364,727		East Japan Railway Co		22,430
	182,708		easyJet plc		1,177
	104,122	*,e	Echo Global Logistics, Inc		2,683
	175,935		EcoRodovias Infraestrutura e Logistica S.A.		371
	304,887	g	Enav S.p.A		1,158
	120,077	e,g	Europcar Groupe S.A.		103
	1,016,271		Eva Airways Corp		376
	429,000		Evergreen International Storage & Transport Corp		202
	1,184,563	*	Evergreen Marine Corp Tawain Ltd		653
	39,790		Exchange Income Corp		908
	243,508		Expeditors International of Washington, Inc		22,042
	345,803		FedEx Corp		86,976
	613,736	e	Finnair Oyj		277
	1,369,179	*	Firstgroup plc		669
	22,230		Flughafen Zuerich AG.		3,050
	105,256		Forward Air Corp		6,040
	38,778	e	Fraport AG. Frankfurt Airport Services Worldwide		1,527
	31,460		Fukuyama Transporting Co Ltd		1,533
	45,666	e	Genco Shipping & Trading Ltd		315
	410,445		Getlink S.E.		5,560
	18,466		GLOVIS Co Ltd		2,271
	658,528	*	GMR Infrastructure Ltd		207
	86,881		Go-Ahead Group plc		646
	393,079	*	Gol Linhas Aereas Inteligentes S.A.		1,195
	119,950		Golden Ocean Group Ltd		455
	332,416	e	Grupo Aeroportuario del Centro Norte Sab de C.V.		1,527
	354,545	e	Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		2,846
	196,700		Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		2,284
	54,100		Guangzhou Baiyun International Airport Co Ltd		108

172

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	184,884		Gujarat Pipavav Port Ltd	$	207
	294,276		Gulf Warehousing Co		409
	1,101,900	*	Hainan Airlines Holding Co Ltd		284
	131,000	*	Hainan Meilan International Airport Co Ltd		745
	17,000		Hamakyorex Co Ltd		517
	27,662		Hamburger Hafen und Logistik AG.		483
	6,287		Hanjin Transportation Co Ltd		231
	194,118		Hankyu Hanshin Holdings, Inc		6,241
	70,851		Hawaiian Holdings, Inc		913
	113,854		Heartland Express, Inc		2,118
	51,425	e	Hitachi Transport System Ltd		1,629
	6,827		Hopewell Highway Infrastructure Ltd		2
	177,756	*	Hub Group, Inc (Class A)		8,922
	5,591,751		Hutchison Port Holdings Trust		923
	227,806	*	Hyundai Merchant Marine Co Ltd		1,399
	2,956	*	ID Logistics Group		639
	87,338		Iino Kaiun Kaisha Ltd		311
	156,074		Imperial Holdings Ltd		352
	42,712	g	InterGlobe Aviation Ltd		721
	958,027		International Container Term Services, Inc		2,186
	117,813		Japan Airlines Co Ltd		2,197
	100,450	e	Japan Airport Terminal Co Ltd		4,450
	14,544		JB Hunt Transport Services, Inc		1,838
	12,251		Jeju Air Co Ltd		138
	362,896	*	JetBlue Airways Corp		4,112
	694,034		Jiangsu Express		701
	10,391		Jin Air Co Ltd		82
	2,700		Juneyao Airlines Co Ltd		4
	285,073		Kamigumi Co Ltd		5,617
	685,527		Kansas City Southern		123,964
	49,288	*,e	Kawasaki Kisen Kaisha Ltd		552
	170,630	e	Keihin Electric Express Railway Co Ltd		2,626
	85,770		Keio Corp		5,310
	102,689		Keisei Electric Railway Co Ltd		2,900
	706,009	*	Kerry Logistics Network Ltd		1,279
	156,076		Kintetsu Corp		6,661
	300,700		Kintetsu World Express, Inc		6,409
	84,471	*	Kirby Corp		3,055
	345,572		Knight-Swift Transportation Holdings, Inc		14,065
	25,868		Konoike Transport Co Ltd		285
	4,294	*	Korea Express Co Ltd		651
	11,405	*	Korea Line Corp		164
	34,864		Korean Air Lines Co Ltd		560
	50,322	e	Kuehne & Nagel International AG.		9,771
	121,116		Kyushu Railway Co		2,590
	37,085		Landstar System, Inc		4,654
	1,234,316		Localiza Rent A Car		12,455
	532,573	*	Lyft, Inc (Class A)		14,672
	105,079		Macquarie Infrastructure Co LLC		2,826
	76,080		MacroAsia Corp		7
	606,818	g	Mahindra Logistics Ltd		2,852
	550,220		Malaysia Airports Holdings BHD		632
	231,821		Marten Transport Ltd		3,783
	22,625	e	Maruwa Unyu Kikan Co Ltd		898

173

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	26,230		Maruzen Showa Unyu Co Ltd	$	898
	70,084		Matson, Inc		2,810
	78,385	*	Mesa Air Group, Inc		231
	1,408,056		MISC BHD		2,548
	57,928	e	Mitsubishi Logistics Corp		1,653
	119,200		Mitsui OSK Lines Ltd		2,353
	47,114		Mitsui-Soko Co Ltd		825
	669,800		MMC Corp BHD		119
	125,752		Movida Participacoes S.A.		364
	484,783		MTR Corp		2,406
	109,343		Mullen Group Ltd		740
	247,264		Mundra Port and Special Economic Zone Ltd		1,151
	130,035		Nagoya Railroad Co Ltd		3,565
	112,327		Nankai Electric Railway Co Ltd		2,493
	102,554		Napier Port Holdings Ltd		241
	621,139		National Express Group plc		1,221
	287,000		Ningbo Zhoushan Port Co Ltd		158
	64,982		Nippon Express Co Ltd		3,792
	103,449		Nippon Konpo Unyu Soko Co Ltd		2,243
	111,490		Nippon Yusen Kabushiki Kaisha		1,934
	65,600	e	Nishi-Nippon Railroad Co Ltd		1,900
	14,970		Nissin Corp		228
	212,515	g	Nobina AB		1,397
	33,738		Norfolk Southern Corp		7,220
	260,366		Northgate plc		620
	693,418	*,e	Norwegian Air Shuttle AS		70
	247,348		Odakyu Electric Railway Co Ltd		6,218
	38,188	e	Oesterreichische Post AG.		1,285
	141,278		Old Dominion Freight Line		25,560
	5,322,290	e	Pacific Basin Shipping Ltd		820
	1,625	*,e	PAM Transportation Services, Inc		61
	10,298	*	Pangaea Logistics Solutions Ltd		27
	13,981		Park-Ohio Holdings Corp		225
	33,994	*	Pegasus Hava Tasimaciligi AS.		203
	6,430		Piraeus Port Authority		126
	199,737	*	Promotora y Operadora de Infraestructura SAB de C.V.		1,413
	1,983,000		PT Jasa Marga Tbk		484
	5,648,600	*,†	PT Trada Maritime Tbk		19
	958,175		Qantas Airways Ltd		2,810
	518,245		Qatar Navigation QSC		855
	2,956,155		QR National Ltd		9,094
	1,983,954		Qube Logistics Holdings Ltd		3,611
	117,047	*,e	Radiant Logistics, Inc		602
	1,004,627		Royal Mail plc		3,081
	1,135,870	*	Rumo S.A.		3,855
	7,392		Ryder System, Inc		312
	101,239	*,e	Safe Bulkers, Inc		104
	81,297	e	Sagami Railway Co Ltd		2,192
	41,267	*	Saia, Inc		5,205
	96	*,†	SAir Group		0
	22,170		Sakai Moving Service Co Ltd		1,086
	61,850		Sankyu, Inc		2,443
	441,404		Santos Brasil Participacoes S.A.		317
	219,218	*,e	SAS AB		94

174

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	86,563	*	Saudi Ground Services Co	$	705
	60,156	*	Saudi Public Transport Co		291
	85,504		SBS Holdings, Inc		1,786
	83,905		Schneider National, Inc		2,075
	14,256	e	Scorpio Bulkers, Inc		202
	195,186		Seibu Holdings, Inc		2,102
	156,806	*	Seino Holdings Corp		2,275
	120,396		Senko Co Ltd		1,123
	89,000		SF Holding Co Ltd		1,068
	170,545		SG Holdings Co Ltd		8,874
	101,000		Shandong Airlines Co Ltd		83
	330,900		Shanghai International Airport Co Ltd		3,360
	354,200		Shanghai International Port Group Co Ltd		218
	129,044		Shanghai Jinjiang International Investment Holdings Co		95
	48,277		Shenzhen Airport Co Ltd		61
	896,000		Shenzhen Expressway Co Ltd		783
	1,087,292		Shenzhen International Holdings Ltd		1,735
	9,400		Shinwa Kaiun Kaisha Ltd		129
	320,200		SIA Engineering Co Ltd		394
	920,580		Signature Aviation plc		2,836
	57,097	*	SIMPAR S.A.		258
	250,720		Sincere Navigation		132
	1,257,290		Singapore Airlines Ltd		3,217
	778,100	e	Singapore Airport Terminal Services Ltd		1,625
	1,601,019		Singapore Post Ltd		760
	135,717		Sinotrans Ltd (Class A)		74
	2,485,848		SITC International Co Ltd		3,444
	15,371		Sixt AG.		1,385
	36,408		Sixt AG. (Preference)		1,952
	77,518		Skywest, Inc		2,315
	882,392		Southwest Airlines Co		33,090
	109,801	*	SpiceJet Ltd		72
	146,705	*,e	Spirit Airlines, Inc		2,362
	23,100		Spring Airlines Co Ltd		153
	464,363		Stagecoach Group plc		232
	104,000		STO Express Co Ltd		231
	29,475		Stolt-Nielsen S.A.		259
	116,190	*	STX Pan Ocean Co Ltd		338
	63,083	e	Sumitomo Warehouse Co Ltd		800
	1,092,833		Sydney Airport		4,641
	1,864,000		Taiwan High Speed Rail Corp		2,045
	180,252		TAV Havalimanlari Holding AS		357
	33,499		Tegma Gestao Logistica		124
	219,602		TFI International, Inc		9,183
	678,500	*	Thai Airways International PCL (Foreign)		70
	1,756,000		Tianjin Port Development Holdings Ltd		114
	1,202,627		TNT NV		3,651
	152,409		Tobu Railway Co Ltd		4,710
	425,489		Tokyu Corp		5,522
	6,015		Tonami Holdings Co Ltd		373
	12,407		Trancom Co Ltd		896
	2,581,033		Transurban Group		26,355
	268,645	*	Turk Hava Yollari		362

175

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	3,202,160	*	Uber Technologies, Inc	$	116,815
	385,000		U-Ming Marine Transport Corp		400
	2,415,204		Union Pacific Corp		475,481
	373,324	*	United Airlines Holdings Inc		12,973
	197,576		United International Transportation Co		1,792
	1,697,408		United Parcel Service, Inc (Class B)		282,839
	36,775		Universal Logistics Holdings Inc		767
	34,617	*,e	US Xpress Enterprises, Inc		286
	60,603	*,†	Virgin Australia Holdings Ltd		0	^
	67,336	*,†	Virgin Australia Int Holdings		0
	486,000		Wan Hai Lines Ltd		359
	176,420		Werner Enterprises, Inc		7,408
	142,616		West Japan Railway Co		7,046
	750,200		Westports Holdings BHD		702
	96,903	e	Westshore Terminals Investment Corp		1,107
	120,907		Wilh. Wilhelmsen ASA		185
	349,042		Wisdom Marine Lines Co Ltd		264
	135,892	*	XPO Logistics, Inc		11,505
	443,066		Yamato Transport Co Ltd		11,671
	1,086,523	*	Yang Ming Marine Transport		367
	1,036,000		Yuexiu Transport Infrastructure Ltd		604
	83,980		Yunda Holding Co Ltd		231
	842,794		Zhejiang Expressway Co Ltd		611
	204,204		ZTO Express Cayman, Inc (ADR)		6,110
			TOTAL TRANSPORTATION		2,255,917
UTILITIES - 2.7%
	1,743,974		A2A S.p.A.		2,533
	1,654,210		Aboitiz Power Corp		873
	24,432	e	Acciona S.A.		2,651
	136,832		ACEA S.p.A.		2,878
	499,843		Actelios S.p.A.		3,154
	687,673	*	Adani Power Ltd		345
	550,834		AES Corp		9,976
	2,682,687		AES Gener S.A.		413
	146,676	*	AES Tiete Energia SA		383
	348,364	*,†	AET&D Holdings No 1 Ptd Ltd		0
	641,334		AGL Energy Ltd		6,262
	2,645,805		Aguas Andinas S.A.		741
	575,244	e	Algonquin Power & Utilities Corp		8,355
	79,547		Allete, Inc		4,116
	58,130		Alliant Energy Corp		3,002
	519,843	e	AltaGas Ltd		6,278
	133,897		Alupar Investimento S.A.		552
	33,829		Ameren Corp		2,675
	2,583,660		American Electric Power Co, Inc		211,163
	30,458		American States Water Co		2,283
	25,424		American Water Works Co, Inc		3,683
	1,218,477		APA Group		9,058
	13,249	e	Artesian Resources Corp		457
	105,315		Ascopiave S.p.A.		392
	71,007		Atco Ltd		2,053
	38,861		Athens Water Supply & Sewage Co S.A.		304
	176,679	*,e	Atlantic Power Corp		346

176

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	15,955		Atmos Energy Corp	$	1,525
	1,741,828		AusNet Services		2,351
	4,144		Avangrid, Inc		209
	105,749		Avista Corp		3,608
	75,500		Aygaz AS		111
	799,433		B Grimm Power PCL		1,070
	533,100		BCPG PCL		201
	265,899		Beijing Enterprises Holdings Ltd		802
	2,598,191		Beijing Enterprises Water Group Ltd		1,013
	1,258,000		Beijing Jingneng Clean Energy Co Ltd		321
	23,625		BKW S.A.		2,516
	155,967		Black Hills Corp		8,343
	5,144,000	*	Blue Sky Power Holdings Ltd		81
	84,419		Boralex, Inc		2,440
	38,822	e	Brookfield Infrastructure Corp		2,150
	233,177		Brookfield Renewable Corp		13,664
	18,281	*,e	Cadiz, Inc		182
	48,239		California Water Service Group		2,096
	120,901		Canadian Utilities Ltd		2,884
	533,000		Canvest Environment Protection Group Co Ltd		230
	114,937	e	Capital Power Corp		2,537
	97,816		Capital Stage AG.		1,915
	18,479,945		Centerpoint Energy, Inc		357,587
	303,037		Centrais Eletricas Brasileiras S.A.		1,636
	246,579		Centrais Eletricas Brasileiras S.A. (Preference)		1,369
	89,367	e	Central Puerto S.A. (ADR)		200
	6,462,110		Centrica plc		3,344
	54,569		CESC Ltd		454
	84,353		CEZ AS		1,595
	1,092,000		CGN New Energy Holdings Co Ltd		139
	5,578,000	g	CGN Power Co Ltd		1,149
	39,459		Chesapeake Utilities Corp		3,326
	1,935,631		China Datang Corp Renewable Power Co Ltd		266
	552,000	e,g	China Everbright Greentech Ltd		222
	733,213	e	China Everbright Water Ltd		122
	1,304,808		China Gas Holdings Ltd		3,734
	1,796,127		China Longyuan Power Group Corp		1,129
	273,700		China National Nuclear Power Co Ltd		177
	3,248,000		China Power International Development Ltd		601
	480,780		China Resources Gas Group Ltd		2,159
	1,011,303		China Resources Power Holdings Co		1,122
	280,500	e	China Tian Lun Gas Holdings Ltd		215
	764,254	e	China Water Affairs Group Ltd		602
	660,500		China Yangtze Power Co Ltd		1,861
	623,640		Chubu Electric Power Co, Inc		7,586
	216,012	e	Chugoku Electric Power Co, Inc		2,701
	316,694		Cia de Saneamento Basico do Estado de Sao Paulo		2,639
	57,800		Cia de Saneamento de Minas Gerais-COPASA		481
	178,049		Cia de Saneamento do Parana		807
	871,459		Cia de Saneamento do Parana (Preference)		790
	915,319		Cia Energetica de Minas Gerais		1,646
	955,521		Cia Energetica de Sao Paulo (Class B)		4,807
	14,056		Cia Energetica do Ceara		150
	92,000		Cia Paranaense de Energia		1,016

177

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	681,000		CK Infrastructure Holdings Ltd	$	3,196
	2,255,280		CK Power PCL		415
	336,301		Clearway Energy, Inc (Class A)		8,307
	177,926		Clearway Energy, Inc (Class C)		4,797
	1,722,363		CLP Holdings Ltd		16,082
	41,611		CMS Energy Corp		2,555
	7,693,486		Colbun S.A.		1,244
	5,100,000		Concord New Energy Group Ltd		231
	44,966		Consolidated Edison, Inc		3,498
	20,738	e	Consolidated Water Co, Inc		216
	800,977		Contact Energy Ltd		3,544
	230,023		CPFL Energia S.A.		1,129
	1,894,338		Dominion Energy, Inc		149,520
	445,787		Drax Group plc		1,530
	243,823		DTE Energy Co		28,049
	1,126,527		Duke Energy Corp		99,765
	2,051,941		E.ON AG.		22,617
	567,500		Eastern Water Resources Development and Management PCL		168
	502,853		Edison International		25,565
	281,045		EDP - Energias do Brasil S.A.		871
	94,659		Electric Power Development Co		1,460
	601,049		Electricite de France		6,349
	273,500		Electricity Generating PCL		1,622
	28,899	e	Elia System Operator S.A.		2,889
	240,275		Emera, Inc		9,870
	18,070	*,e	Empresa Distribuidora Y Comercializadora Norte (ADR)		56
	486,593		Empresa Electrica del Norte Grande S.A.		605
	33,080		Enagas		763
	647,592		Endesa S.A.		17,322
	202,498	*	Enea S.A.		299
	11,523,524		Enel S.p.A.		99,977
	75,454	*	Energa S.A.		162
	5,188,874		Energias de Portugal S.A.		25,513
	163,600		Energisa S.A.		1,198
	201,696	*	Energix-Renewable Energies Ltd		802
	1,439,771		Energy Absolute PCL (Foreign)		1,793
	223,771	g	Enerjisa Enerji AS.		258
	26,275,962		Enersis Chile S.A.		1,843
	33,398,264		Enersis S.A.		4,341
	169,636	*	Eneva S.A.		1,453
	189,351		Engie Brasil Energia S.A.		1,360
	826,905	*	Enlight Renewable Energy Ltd		1,473
	404,328		ENN Energy Holdings Ltd		4,437
	1,966,211		Entergy Corp		193,731
	833,922		Equatorial Energia S.A.		3,145
	22,843	e	eRex Co Ltd		237
	66,170		ERG S.p.A.		1,664
	35,324		Essential Utilities Inc		1,422
	1,051,102		Evergy, Inc		53,417
	46,694		Eversource Energy		3,901
	39,016		EVN AG.		651
	3,680,144		Exelon Corp		131,602

178

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	853,922		First Gen Corp	$	412
	3,646,667		FirstEnergy Corp		104,696
	99,937	g	Fjordkraft Holding ASA		970
	432,298		Fortis, Inc		17,674
	439,619		Fortum Oyj		8,888
	833,764		GAIL India Ltd		985
	1,915,317		Gaz de France		25,595
	894,000		GD Power Development Co Ltd		266
	583,409		Genesis Energy Ltd		1,137
	11,973	e	Genie Energy Ltd		96
	654,465		Global Power Synergy Co Ltd (Foreign)		1,193
	11,142	e	Global Water Resources, Inc		120
	1,539,966		Guangdong Investments Ltd		2,449
	154,189		Gujarat Gas Ltd		646
	452,742		Gujarat State Petronet Ltd		1,282
	2,343,092		Gulf Energy Development PCL		2,261
	15,997		Hawaiian Electric Industries, Inc		532
	1,733,131		Hera S.p.A.		6,391
	2,454,500		HK Electric Investments & HK Electric Investments Ltd		2,538
	256,793		Hokkaido Electric Power Co, Inc		1,097
	189,577	e	Hokuriku Electric Power Co		1,420
	102,104		Holding CO ADMIE IPTO S.A.		281
	11,095,680		Hong Kong & China Gas Ltd		16,111
	1,437,162		Hong Kong Electric Holdings Ltd		7,575
	272,000		Huadian Power International Corp Ltd (Class A)		143
	252,600		Huaneng Power International, Inc		201
	2,009,556		Huaneng Power International, Inc (Hong Kong)		780
	660,063	*	Hub Power Co Ltd		312
	214,800		Hubei Energy Group Co Ltd		117
	322,708	g	Hydro One Ltd		6,839
	7,815,271		Iberdrola S.A.		96,195
	74,086		Idacorp, Inc		5,919
	97,816		Indraprastha Gas Ltd		515
	524,081	e	Infraestructura Energetica ,NV SAB de C.V.		1,579
	753,307		Infratil Ltd		2,496
	404,500		Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd		153
	133,749		Innergex Renewable Energy, Inc		2,417
	1,027,900	*,†	Inter Far East Energy Corp		0	^
	430,823		Interconexion Electrica S.A.		2,294
	395,937		Inversiones Aguas Metropolitanas S.A.		287
	728,468		Iride S.p.A.		1,873
	550,834		Italgas S.p.A		3,474
	310,107		JSW Energy Ltd		238
	15,300		K&O Energy Group, Inc		218
	818,493		Kansai Electric Power Co, Inc		7,933
	27,403		Kenon Holdings Ltd		620
	4,254,493		Keppel Infrastructure Trust		1,705
	2,915	*	Korea District Heating Corp		87
	130,418	*	Korea Electric Power Corp		2,272
	14,640		Korea Gas Corp		307
	320,370		Kyushu Electric Power Co, Inc		2,907
	219,434		Light S.A.		567

179

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	15,400		Luenmei Quantum Co Ltd	$	29
	36,592		Mahanagar Gas Ltd		413
	2,069,300		Malakoff Corp BHD		472
	234,636		Manila Electric Co		1,315
	997,500		Manila Water Co, Inc		304
	397,238		MDU Resources Group, Inc		8,938
	242,000		Mega First Corp BHD		420
	1,196,189		Meridian Energy Ltd		3,934
	50,184		MGE Energy, Inc		3,145
	14,011		Middlesex Water Co		871
	636,993		Mighty River Power Ltd		2,155
	270,936		Mosenergo PJSC (ADR)		329
	32,505		National Fuel Gas Co		1,319
	37,783		National Gas & Industrialization Co		308
	3,154,498		National Grid plc		36,233
	256,683		Naturgy Energy Group S.A.		5,148
	146,961	e	New Jersey Resources Corp		3,971
	1,128,533		NextEra Energy, Inc		313,236
	39,929		Nippon Gas Co Ltd		2,018
	532,078		NiSource, Inc		11,706
	191,039	e	Northland Power Income Fund		5,779
	44,454		Northwest Natural Holding Co		2,018
	81,176		NorthWestern Corp		3,948
	516,499		NRG Energy, Inc		15,877
	1,230,282		NTPC Ltd		1,423
	70,581	e	Oest Elektrizitatswirts AG. (Class A)		3,855
	283,530		OGE Energy Corp		8,503
	48,001		Okinawa Electric Power Co, Inc		752
	99,339	*	Omega Geracao S.A.		648
	107,645		ONE Gas, Inc		7,429
	52,647		OPC Energy Ltd		479
	32,697		Ormat Technologies, Inc		1,933
	308,910	g	Orsted AS		42,586
	308,914		Osaka Gas Co Ltd		6,014
	54,516		Otter Tail Corp		1,972
	48,483	*,e	Pampa Energia S.A. (ADR)		501
	854,314		Pennon Group plc		11,366
	825,146		Petronas Gas BHD		3,272
	1,363,823	*,b	PG&E Corp		12,806
	159,949		Pinnacle West Capital Corp		11,924
	155,372		PNM Resources, Inc		6,422
	409,379	*	Polska Grupa Energetyczna S.A.		680
	263,981		Portland General Electric Co		9,371
	1,771,774		Power Grid Corp of India Ltd		3,908
	628,316		PPL Corp		17,096
	13,295,320		PT Perusahaan Gas Negara Persero Tbk		832
	94,178	*	Public Power Corp		563
	123,571		Public Service Enterprise Group, Inc		6,785
	32,063	*,e	Pure Cycle Corp		289
	284,032		Qatar Electricity & Water Co		1,321
	445,900		Ratch Group PCL		710
	389,695		Red Electrica Corp S.A.		7,309
	891,375		Redes Energeticas Nacionais S.A.		2,479
	42,200	*,e	RENOVA, Inc		451

180

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	7,566	e	RGC Resources, Inc	$	177
	270,030		Rubis S.C.A		10,811
	2,605,248		RWE AG.		97,565
	821,025		Saudi Electricity Co		3,770
	107,890	g	Scatec Solar ASA		2,492
	986,064		Scottish & Southern Energy plc		15,347
	236,600		SDIC Power Holdings Co Ltd		314
	48,166		Sechilienne-Sidec		2,505
	427,442		Sempra Energy		50,592
	31,627		Severn Trent plc		996
	101,700		Shanghai Electric Power Co Ltd		112
	181,400		Shenergy Co Ltd		147
	196,080		Shenzhen Energy Group Co Ltd		155
	175,842	e	Shikoku Electric Power Co, Inc		1,341
	51,610		Shizuoka Gas Co Ltd		459
	136,200		Sichuan Chuantou Energy Co Ltd		197
	730,018	*,h	Siemens Energy AG.		19,686
	793,715	e	SIIC Environment Holdings Ltd		107
	57,889		SJW Corp		3,523
	270,725		Snam Rete Gas S.p.A.		1,392
	70,282	*	Solaria Energia y Medio Ambiente S.A.		1,330
	128,000	*,†	Sound Global Ltd		0	^
	110,102		South Jersey Industries, Inc		2,122
	483,039		Southern Co		26,190
	108,566		Southwest Gas Holdings Inc		6,851
	27,697		Spark Energy, Inc		230
	1,906,654		Spark Infrastructure Group		2,801
	440,700		SPCG PCL		272
	82,132		Spire, Inc		4,369
	365,272		Suez Environnement S.A.		6,749
	190,582	*	Sunnova Energy International, Inc		5,796
	15,243,856		Super Energy Corp PCL (Foreign)		406
	191,987	e	Superior Plus Corp		1,696
	365,450		Taiwan Cogeneration Corp		481
	1,220,948		Tata Power Co Ltd		885
	979,773	*	Tauron Polska Energia S.A.		557
	70,627	e	Telecom Plus plc		1,213
	2,234,215		Tenaga Nasional BHD		5,654
	41,423		Terna Energy S.A.		554
	1,400,988		Terna Rete Elettrica Nazionale S.p.A.		9,802
	1,349,278		Thai Tap Water Supply PCL		538
	54,759	e	Toho Gas Co Ltd		2,710
	329,767		Tohoku Electric Power Co, Inc		3,305
	1,338,968	*	Tokyo Electric Power Co, Inc		3,682
	416,310		Tokyo Gas Co Ltd		9,500
	177,908		Torrent Power Ltd		757
	887,000		Towngas China Co Ltd		367
	2,216,339		TPI Polene Power PCL		290
	301,699		TransAlta Corp		1,856
	116,607	*,e	TransAlta Renewables, Inc		1,465
	758,369		Transmissora Alianca de Energia Eletrica S.A.		3,776
	31,333		UGI Corp		1,033
	175,835		Uniper SE		5,676
	125,786		United Utilities Group plc		1,389

181

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
	23,142		Unitil Corp	$	894
	553,623		Veolia Environnement		11,945
	879,899		Vistra Energy Corp		16,595
	158,194		WEC Energy Group, Inc		15,329
	19,300	e	West Holdings Corp		528
	961,100		WHA Utilities and Power PCL		108
	420,963		Xcel Energy, Inc		29,051
	9,063		York Water Co		383
	3,056,444		YTL Corp BHD		498
	1	*	Zorlu Enerji Elektrik Uretim AS		0
			TOTAL UTILITIES		3,035,670
			TOTAL COMMON STOCKS		111,028,066
			(Cost $96,037,294)
PURCHASED OPTIONS - 0.0%
DIVERSIFIED FINANCIALS - 0.0%
	560,000		Financial Select Sector SPDR Fund		353
			TOTAL DIVERSIFIED FINANCIALS		353
MATERIALS - 0.0%
	34,000		Dow, Inc		99
			TOTAL MATERIALS		99
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	1,000		Apple, Inc		0	^
	1,600,000		Cisco Systems, Inc		16
	250,000		Cisco Systems, Inc		3
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		19
UTILITIES - 0.0%
	360,000		Energy Select Sector SPDR Fund		36
			TOTAL UTILITIES		36
			TOTAL PURCHASED OPTIONS		507
			(Cost $5,077)
PREFERRED STOCKS - 0.0%
REAL ESTATE - 0.0%
	8,497,223	*,†	Ayala Land, Inc		18
			TOTAL REAL ESTATE		18
			TOTAL PREFERRED STOCKS		18
			(Cost $20)
RIGHTS / WARRANTS - 0.0%
CAPITAL GOODS - 0.0%
	79,135	e	Abengoa S.A. (B Shares)		1
			TOTAL CAPITAL GOODS		1

182

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

				VALUE
SHARES			COMPANY	(000)
CONSUMER SERVICES - 0.0%
	11,519		EIH Ltd	$	2
	78,344		Minor International PCL		18
	5,621	e	PointsBet Holdings Pty Ltd		10
			TOTAL CONSUMER SERVICES		30
DIVERSIFIED FINANCIALS - 0.0%
	583,509		Ratchthani Leasing PCL		56
	25,653		Srisawad Corp PCL		10
	86,644	h	Woori Investment Bank Co Ltd		1
			TOTAL DIVERSIFIED FINANCIALS		67
ENERGY - 0.0%
	8,918	e	Weatherford International plc		1
			TOTAL ENERGY		1
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	318		Pulse Biosciences, Inc		0
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		0
INSURANCE - 0.0%
	705,621		Saga plc		0
			TOTAL INSURANCE		0
MATERIALS - 0.0%
	105,650	†	Siam Cement PCL		0
			TOTAL MATERIALS		0
MEDIA & ENTERTAINMENT - 0.0%
	230,631	†	Media General, Inc		0
			TOTAL MEDIA & ENTERTAINMENT		0
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%
	78,634	e	Almirall S.A.		19
	156,143	†	Elanco Animal Health, Inc CVR		9
	734		Medytox, Inc		18
	17,790	†,e	Omthera Pharmaceuticals, Inc		11
	20,027	†,e	Tobira Therapeutics, Inc		1
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		58
REAL ESTATE - 0.0%
	57,586		Amata Corp PCL		2
	66,478,080		U City PCL		21
			TOTAL REAL ESTATE		23
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	30,484	†	Legend Holdings Corp		5
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		5
TRANSPORTATION - 0.0%
	1,248	h	Hanjin Transportation Co Ltd		7
	4,253	h	Jin Air Co Ltd		8
	1,972,962		SAS AB		102
			TOTAL TRANSPORTATION		117
			TOTAL RIGHTS / WARRANTS		302
			(Cost $306)

183

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 2.1%
GOVERNMENT AGENCY DEBT - 0.7%
$	23,000,000		Federal Agricultural Mortgage Corp (FAMC)		0.095	%	11/24/20	$	22,998
	10,000,000		FAMC		0.120		02/01/21		9,996
	15,500,000		Federal Farm Credit Bank (FFCB)		0.060		10/06/20		15,500
	20,000,000		FFCB		0.060		10/07/20		20,000
	48,840,000		Federal Home Loan Bank (FHLB)		0.070-0.085		10/09/20		48,839
	28,000,000		FHLB		0.085		10/14/20		28,000
	13,470,000		FHLB		0.090		10/16/20		13,470
	20,000,000		FHLB		0.070		10/21/20		19,999
	50,000,000		FHLB		0.080		10/22/20		49,998
	47,471,000		FHLB		0.070-0.100		10/23/20		47,469
	60,750,000		FHLB		0.080-0.100		10/28/20		60,747
	80,093,000		FHLB		0.080-0.100		10/30/20		80,089
	23,060,000		FHLB		0.085		11/03/20		23,059
	27,138,000		FHLB		0.105		11/04/20		27,136
	28,140,000		FHLB		0.105		11/06/20		28,138
	17,500,000		FHLB		0.094-0.095		11/18/20		17,498
	25,000,000		FHLB		0.164		12/30/20		24,994
	45,000,000		FHLB		0.100		01/19/21		44,988
	20,000,000		FHLB		0.100		01/29/21		19,994
	10,345,000		FHLB		0.115-0.120		02/17/21		10,341
	15,000,000		FHLB		0.170		03/08/21		14,994
	20,000,000		FHLB		0.110		03/12/21		19,991
	25,000,000		Federal Home Loan Mortgage Corp (FHLMC)		0.145		10/19/20		24,999
	11,240,000		Federal National Mortgage Association (FNMA)		0.115		10/14/20		11,240
	25,000,000		FNMA		0.120		12/15/20		24,995
			TOTAL GOVERNMENT AGENCY DEBT						709,472
REPURCHASE AGREEMENT - 0.1%
	99,520,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		99,520
			TOTAL REPURCHASE AGREEMENT						99,520
TREASURY DEBT - 0.4%
	75,515,000		United States Cash Management Bill		0.074-0.146		10/13/20		75,513
	28,820,000		United States Cash Management Bill		0.099		11/17/20		28,817
	50,000,000		United States Cash Management Bill		0.099		12/01/20		49,992
	50,000,000		United States Cash Management Bill		0.102		01/05/21		49,987
	50,000,000		United States Cash Management Bill		0.098		02/16/21		49,980
	27,320,000		United States Treasury Bill		0.052-0.140		10/01/20		27,320
	68,645,000		United States Treasury Bill		0.085-0.088		10/29/20		68,640
	50,000,000		United States Treasury Bill		0.110		12/03/20		49,991
	50,000,000		United States Treasury Bill		0.092		12/24/20		49,987
	25,918,000		United States Treasury Bill		0.098-0.110		01/14/21		25,910
			TOTAL TREASURY DEBT						476,137
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.9%
CERTIFICATE OF DEPOSIT - 0.1%
	83,000,000		Lloyds Bank plc		0.58		10/01/20		83,000
			TOTAL CERTIFICATE OF DEPOSIT						83,000

184

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
REPURCHASE AGREEMENT - 0.8%
$	24,725,000	s	Barclays Capital		0.06	%	10/01/20	$	24,725
	83,000,000	t	Calyon		0.08		10/01/20		83,000
	50,000,000	u	Citigroup		0.06		10/01/20		50,000
	100,000,000	v	Deutsche Bank		0.06		10/01/20		100,000
	39,000,000	w	Goldman Sachs		0.06		10/01/20		39,000
	67,000,000	x	HSBC Bank		0.06		10/01/20		67,000
	62,000,000	y	HSBC Bank		0.08		10/01/20		62,000
	34,000,000	z	JP Morgan Securities		0.07		10/01/20		34,000
	129,000,000	aa	JP Morgan Securities		0.08		10/01/20		129,000
	65,000,000	ab	Merrill Lynch		0.08		10/01/20		65,000
	100,000,000	ac	Morgan Stanley		0.08		10/01/20		100,000
	55,000,000	ad	Nomura		0.06		10/01/20		55,000
	50,000,000	ae	Royal Bank of Scotland		0.06		10/01/20		50,000
	45,712,000	af	Societe Generale		0.06		10/01/20		45,712
	50,000,000	ag	Societe Generale		0.08		10/01/20		50,000
			TOTAL REPURCHASE AGREEMENT						954,437
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						1,037,437
			TOTAL SHORT-TERM INVESTMENTS						2,322,566
			(Cost $2,322,542)
			TOTAL INVESTMENTS - 100.8%						113,351,767
			(Cost $98,365,540)
			OTHER ASSETS & LIABILITIES, NET - (0.8)%						(875,282	)
			NET ASSETS - 100.0%					$	112,476,485
			Abbreviation(s):
ADR			American Depositary Receipt
CVR			Contingent Value Right
ETF			Exchange Traded Fund
GDR			Global Depositary Receipt
OTC			Over The Counter
REIT			Real Estate Investment Trust
SPDR			Standard & Poor’s Depositary Receipts
*			Non-income producing
^			Amount represents less than $1,000.
†			Security is categorized as Level 3 in the fair value hierarchy.
a			Affiliated holding
b			In bankruptcy
d			All or a portion of these securities have been segregated to cover margin requirements on open futures contracts.
e			All or a portion of these securities are out on loan. The aggregate value of securities on loan is $1,749,795,128.
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 9/30/20, the aggregate value of these securities is $1,178,066,376 or 1.0% 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 Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $99,520,000 on 10/1/20, collateralized by U.S. Treasury Notes valued at $101,510,449.
s			Agreement with Barclays Capital, 0.06% dated 9/30/20 to be repurchased at $24,725,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $25,219,500.

185

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

t	Agreement with Calyon, 0.08% dated 9/30/20 to be repurchased at $83,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $84,660,000.
u	Agreement with Citigroup, 0.06% dated 9/30/20 to be repurchased at $50,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $51,000,000.
v	Agreement with Deutsche Bank, 0.06% dated 9/30/20 to be repurchased at $100,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $102,000,000.
w	Agreement with Goldman Sachs, 0.06% dated 9/30/20 to be repurchased at $39,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $39,780,000.
x	Agreement with HSBC Bank, 0.06% dated 9/30/20 to be repurchased at $67,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $68,340,000.
y	Agreement with HSBC Bank, 0.08% dated 9/30/20 to be repurchased at $62,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $63,240,000.
z	Agreement with JP Morgan Securities, 0.07% dated 9/30/20 to be repurchased at $34,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $34,680,000.
aa	Agreement with JP Morgan Securities, 0.08% dated 9/30/20 to be repurchased at $129,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $131,580,000.
ab	Agreement with Merrill Lynch, 0.08% dated 9/30/20 to be repurchased at $65,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $66,300,000.
ac	Agreement with Morgan Stanley, 0.08% dated 9/30/20 to be repurchased at $100,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $102,000,000.
ad	Agreement with Nomura, 0.06% dated 9/30/20 to be repurchased at $55,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $56,100,000.
ae	Agreement with Royal Bank of Scotland, 0.06% dated 9/30/20 to be repurchased at $50,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $51,000,000.
af	Agreement with Societe Generale, 0.06% dated 9/30/20 to be repurchased at $45,712,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $46,626,240.
ag	Agreement with Societe Generale, 0.08% dated 9/30/20 to be repurchased at $50,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $51,000,000.
	Cost amounts are in thousands.

Purchased options outstanding as of September 30, 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	10	$	8			$         132.50	10/16/20	$	0	^
Cisco Systems, Inc, Call	2,500		542			47.50	10/16/20		3
Cisco Systems, Inc, Call	16,000		3,166			50.00	10/16/20		16
Dow, Inc, Call	340		47			50.00	01/15/21		99
Energy Select Sector SPDR Fund, Call	3,600		727			43.00	12/18/20		36
Financial Select Sector SPDR Fund, Call	5,600		587			26.00	12/18/20		353
Total	28,050	$	5,077					$	507
^   Amount represents less than $1,000.
Written options outstanding as of September 30, 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	$	(8	)		$         146.25	10/16/20	$	(0	)^
Apple, Inc, Call	1,404		(754	)		92.50	10/16/20		(3,299	)
Cisco Systems, Inc, Call	18,500		(221	)		60.00	10/16/20		(19	)
Dow, Inc, Put	340		(47	)		25.00	01/15/21		(10	)
DuPont de Nemours, Inc, Put	209		(85	)		42.50	10/16/20		(2	)
DuPont de Nemours, Inc, Put	209		(110	)		45.00	10/16/20		(2	)
JPMorgan Chase & Co, Put	20		(1	)		85.00	10/09/20		(0	)^
Total	20,702		(1,226	)				$	(3,332	)

^   Amount represents less than $1,000.

186

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

Futures contracts outstanding as of September 30, 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	527	12/18/20	$	40,066	$	39,641	$	(425	)
S&P 500 E Mini Index	3,582	12/18/20		607,125		600,343		(6,782	)
S&P Mid-Cap 400 E Mini Index	383	12/18/20		71,757		71,081		(676	)
Total	4,492		$	718,948	$	711,065	$	(7,883	)

Forward foreign currency contracts outstanding as of September 30, 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		)
$	4,014	CAD	5,400	Bank of America	10/21/20	$	(42	)
$	9,990	GBP	7,900	Bank of America	10/21/20		(205	)
$	10,001	JPY	1,070,000	Bank of America	10/21/20		(147	)
Total						$	(394	)
$	4,971	AUD	7,100	Morgan Stanley	10/21/20	$	(115	)
$	54,459	CAD	72,000	Morgan Stanley	12/10/20		371
$	39,064	GBP	30,000	Morgan Stanley	12/10/20		337
$	4,998	SEK	45,000	Morgan Stanley	10/21/20		(27	)
EUR	11,400	$	13,033	Morgan Stanley	10/21/20		339
Total						$	905
Total						$	511

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

187

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

COLLEGE RETIREMENT EQUITIES FUND
STOCK ACCOUNT
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
September 30, 2020

	Value		% of total
Country	(000)		portfolio
DOMESTIC
UNITED STATES	$	78,245,436		69.0	%
TOTAL DOMESTIC		78,245,436		69.0
FOREIGN
ARGENTINA		40,072		0.0
AUSTRALIA		1,559,562		1.4
AUSTRIA		155,106		0.1
BAHAMAS		524		0.0
BELGIUM		162,394		0.2
BERMUDA		33,237		0.0
BRAZIL		666,683		0.6
BURKINA FASO		3,047		0.0
CAMEROON		860		0.0
CANADA		1,946,993		1.7
CAYMAN ISLANDS		3,323		0.0
CHILE		53,508		0.0
CHINA		3,973,543		3.5
COLOMBIA		13,193		0.0
COTE D’IVOIRE		4,554		0.0
CYPRUS		84		0.0
CZECH REPUBLIC		5,090		0.0
DENMARK		524,634		0.5
EGYPT		19,733		0.0
FAROE ISLANDS		3,598		0.0
FINLAND		217,307		0.2
FRANCE		2,247,116		2.0
GEORGIA		490		0.0
GERMANY		2,045,628		1.8
GHANA		1,125		0.0
GREECE		12,300		0.0
GUERNSEY, C.I.		1,478		0.0
HONG KONG		581,430		0.5
HUNGARY		11,070		0.0
INDIA		861,831		0.8
INDONESIA		150,801		0.1
IRELAND		461,799		0.4
ISLE OF MAN		659		0.0
ISRAEL		226,654		0.2
ITALY		582,002		0.5
JAPAN		5,716,860		5.1
JERSEY, C.I.		1,399		0.0
JORDAN		2,636		0.0
KAZAKHSTAN		4,478		0.0
KOREA, REPUBLIC OF		1,085,128		1.0
KYRGYZSTAN		2,804		0.0
LIECHTENSTEIN		1,392		0.0
LUXEMBOURG		36,665		0.0
MACAU		98,019		0.1
MALAYSIA		123,698		0.1
MALTA		3,110		0.0
MEXICO		207,306		0.2

188

COLLEGE RETIREMENT EQUITIES FUND - Stock Account

	Value		% of total
Country	(000)		portfolio
MONACO	$	1,673		0.0	%
MONGOLIA		938		0.0
MYANMAR		319		0.0
NETHERLANDS		1,483,218		1.3
NEW ZEALAND		76,285		0.1
NORWAY		160,545		0.1
PAKISTAN		5,372		0.0
PANAMA		2,724		0.0
PERU		48,868		0.0
PHILIPPINES		52,642		0.1
POLAND		51,489		0.1
PORTUGAL		50,543		0.1
PUERTO RICO		15,465		0.0
QATAR		44,509		0.0
ROMANIA		797		0.0
RUSSIA		302,895		0.3
SAUDI ARABIA		207,447		0.2
SINGAPORE		202,219		0.2
SLOVENIA		4,677		0.0
SOUTH AFRICA		341,909		0.3
SPAIN		349,340		0.3
SWEDEN		675,659		0.6
SWITZERLAND		2,147,516		1.9
TAIWAN		1,426,200		1.3
TANZANIA, UNITED REPUBLIC OF		33,875		0.0
THAILAND		142,955		0.1
TURKEY		59,748		0.1
UKRAINE		754		0.0
UNITED ARAB EMIRATES		34,617		0.0
UNITED KINGDOM		3,308,822		2.9
VIETNAM		5,360		0.0
ZAMBIA		12,028		0.0
TOTAL FOREIGN		35,106,331		31.0
TOTAL PORTFOLIO	$	113,351,767		100.0	%

189

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND

GLOBAL EQUITIES ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 98.7%
ARGENTINA - 0.0%
	6,527	*	Globant S.A.	$	1,170
	3,898	*	MercadoLibre, Inc		4,219
	13,400		Telecom Argentina S.A. (ADR) (Class B)		88
	39,900	*	YPF S.A. (ADR) (Class D)		142
			TOTAL ARGENTINA		5,619
AUSTRALIA - 1.6%
	378,751	*	Afterpay Touch Group Ltd		22,325
	65,233		AGL Energy Ltd		637
	365,525		AMP Ltd		344
	251,898		Ampol Ltd		4,347
	134,629		APA Group		1,001
	4,897		Aristocrat Leisure Ltd		107
	19,427		AusNet Services		26
	849,507		Australia & New Zealand Banking Group Ltd		10,598
	42,402		Australian Stock Exchange Ltd		2,479
	681,005	*,†	AZ BGP Holdings		2
	25,113		BHP Billiton Ltd		649
	18,003		BHP Group plc		384
	5,047		BlueScope Steel Ltd		47
	12,951		Brambles Ltd		98
	79,830		Challenger Financial Services Group Ltd		222
	286	*	CIMIC Group Ltd		4
	5,396		Coca-Cola Amatil Ltd		37
	560		Cochlear Ltd		80
	11,383		Coles Group Ltd		139
	44,382		Commonwealth Bank of Australia		2,042
	4,874		Computershare Ltd		43
	1,290		Crown Resorts Ltd		8
	454,503		CSL Ltd		93,885
	8,836		Dexus Property Group		57
	12,889		Evolution Mining Ltd		54
	6,939,111		Fortescue Metals Group Ltd		81,521
	85,172		Glencore Xstrata plc		177
	14,032		Goodman Group		182
	13,668		GPT Group		38
	1,214,495		IDP Education Ltd		16,719
	1,850,000		Ingenia Communities Group		6,094
	287,215		Insurance Australia Group Ltd		909
	4,847		Lend Lease Corp Ltd		39
	18,630		Macquarie Group Ltd		1,615
	1,270		Magellan Financial Group Ltd		52
	27,258		Medibank Pvt Ltd		49
	140,000	*	Megaport Ltd		1,624
	30,912		Mirvac Group		48

190

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	615,236		National Australia Bank Ltd	$	7,904
	463,480		Newcrest Mining Ltd		10,510
	1,496,503	*	NEXTDC Ltd		13,280
	6,028		Northern Star Resources Ltd		60
	12,273		Oil Search Ltd		24
	4,064		Orica Ltd		45
	13,394		Origin Energy Ltd		42
	5,461		Perpetual Trustees Australia Ltd		110
	1,341,428	*,e	PointsBet Holdings Ltd		10,465
	125,315		Qantas Airways Ltd		368
	147,759		QBE Insurance Group Ltd		919
	19,178		QR National Ltd		59
	1,829		Ramsay Health Care Ltd		87
	527		REA Group Ltd		42
	3,166		Rio Tinto Ltd		216
	446,976		Rio Tinto plc		26,896
	13,908		Santos Ltd		49
	630,997		Scentre Group		1,005
	3,350		Seek Ltd		52
	47,001		Sonic Healthcare Ltd		1,116
	39,645		South32 Ltd		59
	18,518		Stockland Trust Group		51
	139,256		Suncorp-Metway Ltd		850
	13,215		Sydney Airport		56
	22,231		Tabcorp Holdings Ltd		54
	518,029		Telstra Corp Ltd		1,037
	2,356	*	TPG Telecom Ltd		12
	23,323		Transurban Group		238
	4,890		Treasury Wine Estates Ltd		31
	24,091		Vicinity Centres		24
	264,254	*,†	Virgin Australia Holdings Ltd		2
	664	e	Washington H Soul Pattinson & Co Ltd		11
	59,664		Wesfarmers Ltd		1,907
	179,373		Westpac Banking Corp		2,181
	1,337		Wisetech Global Ltd		25
	8,300		Woodside Petroleum Ltd		105
	98,411		Woolworths Ltd		2,573
	2,208,434	*,e	Zip Co Ltd		10,119
			TOTAL AUSTRALIA		341,266
AUSTRIA - 0.0%
	276		Andritz AG.		8
	184,528	g	BAWAG Group AG.		6,672
	108,489	*	Erste Bank der Oesterreichischen Sparkassen AG.		2,272
	7,868	e	Oest Elektrizitatswirts AG. (Class A)		430
	924	*	OMV AG.		25
	1,640	*,e	Raiffeisen International Bank Holding AG.		25
	1,133		Voestalpine AG.		30
			TOTAL AUSTRIA		9,462
BELGIUM - 0.0%
	1,437		Ageas		59
	58,858		Anheuser-Busch InBev S.A.		3,169
	331	*	Colruyt S.A.		21
	311		Elia System Operator S.A.		31

191

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	426	*	Galapagos NV	$	61
	962		Groupe Bruxelles Lambert S.A. (EN Brussels)		87
	2,129		KBC Groep NV		107
	957		Proximus plc		17
	105		Sofina S.A.		29
	595		Solvay S.A.		51
	385		Telenet Group Holding NV		15
	1,077		UCB S.A.		122
	1,652		Umicore S.A.		69
			TOTAL BELGIUM		3,838
BERMUDA - 0.0%
	28,402		RenaissanceRe Holdings Ltd		4,821
	203,322	*	Third Point Reinsurance Ltd		1,413
			TOTAL BERMUDA		6,234
BRAZIL - 1.5%
	890,900		AMBEV S.A.		1,989
	271,721	*	Arco Platform Ltd		11,097
	352,538		Arcos Dorados Holdings, Inc		1,445
	67,400		Atacadao Distribuicao Comercio e Industria Ltd		246
	5,661,097	*	B2W Companhia Global Do Varejo		90,704
	384,500		B3 SA-Brasil Bolsa Balcao		3,766
	236,902		Banco Bradesco S.A.		760
	781,322		Banco Bradesco S.A. (Preference)		2,700
	40,600		Banco BTG Pactual S.A. - Unit		527
	156,032		Banco do Brasil S.A.		823
	1,024,500		Banco Inter S.A.		9,902
	911,219		Banco Itau Holding Financeira S.A.		3,651
	70,300		Banco Santander Brasil S.A.		350
	131,800		BB Seguridade Participacoes S.A.		570
	38,000		Braskem S.A.		141
	109,600	*	BRF S.A.		359
	61,355		Centrais Eletricas Brasileiras S.A.		331
	50,400		Centrais Eletricas Brasileiras S.A. (Preference)		280
	2,138,800		Cia Brasileira de Distribuicao		26,560
	208,700		Cia de Concessoes Rodoviarias		471
	60,600		Cia de Saneamento Basico do Estado de Sao Paulo		505
	194,483		Cia Energetica de Minas Gerais		350
	16,900		Cia Paranaense de Energia		187
	127,000		Cia Siderurgica Nacional S.A.		373
	243,300		Cielo S.A.		170
	342,100		Cogna Educacao		316
	25,500		Cosan SA Industria e Comercio		310
	44,200		CPFL Energia S.A.		217
	35,700		Energisa S.A.		261
	38,450		Engie Brasil Energia S.A.		276
	169,300		Equatorial Energia S.A.		638
	201,700		Gerdau S.A. (Preference)		747
	37,300	g	Hapvida Participacoes e Investimentos S.A.		413
	71,500		Hypermarcas S.A.		380
	828,240		Investimentos Itau S.A. - PR		1,298
	181,614		IRB Brasil Resseguros S		242
	207,900		JBS S.A.		765
	129,700		Klabin S.A.		550
	2,112,090		Localiza Rent A Car		21,313

192

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,099,671		Lojas Americanas S.A. (Preference)	$	15,670
	150,280		Lojas Renner S.A.		1,061
	1,397,100		Magazine Luiza S.A.		22,191
	55,300		Multiplan Empreendimentos Imobiliarios S.A.		191
	133,610		Natura & Co Holding S.A.		1,216
	84,500		Notre Dame Intermedica Participacoes S.A.		979
	497,075	*	Pagseguro Digital Ltd		18,745
	126,500		Petrobras Distribuidora S.A.		454
	715,500		Petroleo Brasileiro S.A.		2,519
	914,638		Petroleo Brasileiro S.A. (Preference)		3,194
	16,800		Porto Seguro S.A.		144
	198,500		Raia Drogasil S.A.		828
	242,400	*	Rumo S.A.		823
	480,102	*	StoneCo Ltd		25,393
	54,300		Sul America S.A.		383
	102,680	*	Suzano Papel e Celulose S.A.		833
	86,600		Telefonica Brasil S.A.		670
	152,400		Tim Participacoes S.A.		354
	135,300		Ultrapar Participacoes S.A.		464
	667,900		Vale S.A.		7,030
	238,700	*	Via Varejo S.A.		737
	143,860		Weg S.A.		1,683
	3,826		Wheaton Precious Metals Corp		188
	422,546	*	XP, Inc		17,616
			TOTAL BRAZIL		309,349
CANADA - 1.7%
	26,228		Agnico-Eagle Mines Ltd		2,090
	197	*	Air Canada		2
	5,027	e	Algonquin Power & Utilities Corp		73
	1,097,483		Alimentation Couche Tard, Inc		38,219
	2,935		AltaGas Ltd		35
	960		Atco Ltd		28
	8,817		B2Gold Corp		57
	5,451		Bank of Montreal		319
	57,750	e	Bank of Nova Scotia		2,399
	1,450,703		Barrick Gold Corp (Canada)		40,747
	1,287		BCE, Inc		53
	5,790	*	Blackberry Ltd (New)		27
	41,398	e	Brookfield Asset Management, Inc		1,370
	2,029		CAE, Inc		30
	2,984		Cameco Corp (Toronto)		30
	968		Canadian Apartment Properties REIT		34
	53,407		Canadian Imperial Bank of Commerce		3,992
	6,060		Canadian National Railway Co		645
	10,074		Canadian Natural Resources Ltd (Canada)		161
	223,075		Canadian Pacific Railway Ltd (Toronto)		67,858
	603	e	Canadian Tire Corp Ltd		61
	1,508		Canadian Utilities Ltd		36
	1,476	*,e	Canopy Growth Corp (Toronto)		21
	1,216		CCL Industries		47
	7,658		Cenovus Energy, Inc (Toronto)		30
	1,961	*	CGI, Inc		133
	1,004		CI Financial Corp		13
	172		Constellation Software, Inc		191
	2,302	*,e	Cronos Group, Inc		12

193

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	147,000	*	Descartes Systems Group, Inc	$	8,374
	672,317		Dollarama, Inc		25,771
	500,000	*	Dye & Durham Ltd		8,344
	2,089		Emera, Inc		86
	1,333		Empire Co Ltd		39
	182,280		Enbridge, Inc (Toronto)		5,325
	228		Fairfax Financial Holdings Ltd		67
	69		First Capital Real Estate Investment Trust		1
	3,962		Fortis, Inc		162
	1,620		Franco-Nevada Corp		226
	806		George Weston Ltd		59
	1,423		Gildan Activewear, Inc		28
	2,914		Great-West Lifeco, Inc		57
	2,801	e,g	Hydro One Ltd		59
	749		iA Financial Corp, Inc		26
	878	e	IGM Financial, Inc		20
	1,554		Imperial Oil Ltd		19
	83,499		Intact Financial Corp		8,941
	4,418	e	Inter Pipeline Ltd		43
	1,288	e	Keyera Corp		19
	24,500	*	Kinaxis, Inc		3,606
	10,739	*	Kinross Gold Corp		95
	2,247		Kirkland Lake Gold Ltd		110
	463,661	*,e	Lightspeed POS, Inc		14,855
	1,524		Loblaw Cos Ltd		80
	2,422		Magna International, Inc		111
	134,401		Manulife Financial Corp (Toronto)		1,869
	2,154		Metro, Inc		103
	2,862		National Bank of Canada		142
	717,885		Nutrien Ltd (Toronto)		28,148
	857		Onex Corp		38
	2,316		Open Text Corp (Toronto)		98
	1,779		Pan American Silver Corp (Toronto)		57
	1,559	e	Parkland Corp		41
	4,686	e	Pembina Pipeline Income Fund		99
	70,582		Power Corp Of Canada		1,383
	1,832		Quebecor, Inc		46
	2,431		Restaurant Brands International, Inc (Toronto)		140
	60,264		RioCan Real Estate Investment Trust		636
	902		Ritchie Bros Auctioneers, Inc		53
	3,020		Rogers Communications, Inc (Class B)		120
	248,176		Royal Bank of Canada		17,425
	2,038		Saputo, Inc		51
	3,977		Shaw Communications, Inc (B Shares)		73
	36,960	*	Shopify, Inc (Class A) (Toronto)		37,797
	723		Smart Real Estate Investment Trust		11
	1,745	*	SSR Mining, Inc		33
	51,930		Sun Life Financial, Inc		2,116
	13,019		Suncor Energy, Inc		159
	184,276		TC Energy Corp		7,736
	4,940		Teck Cominco Ltd		69
	3,557		TELUS Corp		63
	1,479		Thomson Reuters Corp		118
	457		TMX Group Ltd		47
	394,157		Toronto-Dominion Bank		18,249
	7,240	e	West Fraser Timber Co Ltd		336

194

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	960		WSP Global, Inc	$	63
	7,598		Yamana Gold, Inc		43
			TOTAL CANADA		352,598
CHILE - 0.0%
	544,852		Aguas Andinas S.A.		153
	3,946		Antofagasta plc		52
	8,353,166		Banco de Chile		637
	9,343		Banco de Credito e Inversiones		295
	11,766,130		Banco Santander Chile S.A.		409
	96,748		Cencosud Shopping S.A.		138
	272,213		Centros Comerciales Sudamericanos S.A.		399
	26,933		Cia Cervecerias Unidas S.A.		174
	1,609,232		Colbun S.A.		260
	71,825		Embotelladora Andina S.A.		159
	27,406		Empresa Nacional de Telecomunicaciones S.A.		170
	203,022		Empresas CMPC S.A.		427
	70,419		Empresas COPEC S.A.		528
	4,987,799		Enersis Chile S.A.		350
	6,561,125		Enersis S.A.		853
	6,410		Lundin Mining Corp		36
	134,521		SACI Falabella		394
	20,637		Sociedad Quimica y Minera de Chile S.A. (Class B)		671
			TOTAL CHILE		6,105
CHINA - 5.8%
	52,000		360 Security Technology, Inc		127
	246,500	*,e,g	3SBio, Inc		279
	5,300	*	51job, Inc (ADR)		413
	137,500		AAC Technologies Holdings, Inc		748
	3,800		Accelink Technologies Co Ltd		20
	14,200		Addsino Co Ltd		44
	9,700		AECC Aero-Engine Control Co Ltd		28
	27,200		AECC Aviation Power Co Ltd		165
	206,000		Agile Property Holdings Ltd		271
	5,406,000		Agricultural Bank of China Ltd		1,696
	812,800		Agricultural Bank of China Ltd (Class A)		379
	47,437		Aier Eye Hospital Group Co Ltd		359
	73,900		Air China Ltd		77
	364,000		Air China Ltd (H shares)		240
	23,000		Airtac International Group		523
	24,900		Aisino Corp		58
	76,000	e,g	AK Medical Holdings Ltd		196
	997,282	*	Alibaba Group Holding Ltd (ADR)		293,181
	610,000	*	Alibaba Health Information Technology Ltd		1,500
	82,500	g	A-Living Services Co Ltd		422
	678,000	*	Aluminum Corp of China Ltd		140
	182,500	*	Aluminum Corp of China Ltd (Class A)		78
	107,430		Angang Steel Co Ltd		41
	5,900		Angel Yeast Co Ltd		53
	234,000		Anhui Conch Cement Co Ltd		1,621
	45,700		Anhui Conch Cement Co Ltd (Class A)		373
	19,900		Anhui Gujing Distillery Co Ltd		222
	4,400		Anhui Gujing Distillery Co Ltd (Class A)		141
	8,400		Anhui Kouzi Distillery Co Ltd		63
	200,000		Anta Sports Products Ltd		2,087

195

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,500		Apeloa Pharmaceutical Co Ltd	$	12
	2,300		Asymchem Laboratories Tianjin Co Ltd		89
	3,000		Autobio Diagnostics Co Ltd		71
	10,900		Autohome, Inc (ADR)		1,046
	33,200		AVIC Aircraft Co Ltd		113
	80,200		Avic Capital Co Ltd		52
	44,800		AVIC Electromechanical Systems Co Ltd		76
	5,800		AVIC Jonhon Optronic Technology Co Ltd		40
	10,200		AVIC Shenyang Aircraft Co Ltd		86
	501,000		AviChina Industry & Technology Co		287
	6,800		AVICOPTER plc		56
	26,300	*	BAIC BluePark New Energy Technology Co Ltd		23
	331,000	g	BAIC Motor Corp Ltd		135
	51,400	*	Baidu, Inc (ADR)		6,507
	265,100		Bank of Beijing Co Ltd		183
	34,600		Bank of Chengdu Co Ltd		50
	391,000		Bank of China Ltd		184
	15,303,000		Bank of China Ltd (Hong Kong)		4,760
	502,500		Bank of Communications Co Ltd		336
	1,762,000		Bank of Communications Co Ltd (Hong Kong)		849
	61,800		Bank of Hangzhou Co Ltd		107
	142,600		Bank of Jiangsu Co Ltd		128
	115,600		Bank of Nanjing Co Ltd		134
	68,200		Bank of Ningbo Co Ltd		317
	152,422		Bank of Shanghai Co Ltd		183
	256,500		Baoshan Iron & Steel Co Ltd		188
	9,569	*,e	Baozun, Inc (ADR)		311
	96,300		BBMG Corp		44
	383	*	BeiGene Ltd (ADR)		110
	13,700		Beijing Capital Development Co Ltd		14
	322,000		Beijing Capital International Airport Co Ltd		195
	55,100		Beijing Dabeinong Technology Group Co Ltd		72
	1,940		Beijing E-Hualu Information Technology Co Ltd		10
	23,800		Beijing Enlight Media Co Ltd		58
	87,500		Beijing Enterprises Holdings Ltd		264
	898,000		Beijing Enterprises Water Group Ltd		350
	15,100		Beijing Kunlun Tech Co Ltd		58
	19,100		Beijing New Building Materials plc		87
	11,300		Beijing Oriental Yuhong Waterproof Technology Co Ltd		90
	35,500		Beijing Originwater Technology Co Ltd		46
	10,900		Beijing Shiji Information Technology Co Ltd		62
	8,000		Beijing Shunxin Agriculture Co Ltd		71
	19,200		Beijing Sinnet Technology Co Ltd		63
	7,000		Beijing Thunisoft Corp Ltd		25
	9,440		Beijing Tiantan Biological Products Corp Ltd		55
	19,500		Beijing Tongrentang Co Ltd		77
	44,700		Beijing Yanjing Brewery Co Ltd		55
	127,200		Beijing-Shanghai High Speed Railway Co Ltd		110
	41,000	*,e	BEST, Inc (ADR)		123
	4,700		Betta Pharmaceuticals Co Ltd		79
	5,100		BGI Genomics Co Ltd		108
	22,300	*	Bilibili, Inc (ADR)		928
	417,400		BOE Technology Group Co Ltd		303
	36,100	*	Bohai Leasing Co Ltd		15
	644,000		Bosideng International Holdings Ltd		201
	528,000		Brilliance China Automotive Holdings Ltd		499

196

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	16,200		BTG Hotels Group Co Ltd	$	42
	12,500	g	Budweiser Brewing Co APAC Ltd		37
	21,400		BYD Co Ltd		368
	123,000	e	BYD Co Ltd (H shares)		1,984
	132,000	e	BYD Electronic International Co Ltd		670
	21,000		By-health Co Ltd		65
	15,600		C&S Paper Co Ltd		49
	48,600		Caitong Securities Co Ltd		103
	11,200	*,e,g	CanSino Biologics, Inc		239
	5,600		Centre Testing International Group Co Ltd		20
	1,987,000	g	CGN Power Co Ltd		409
	5,800		Chacha Food Co Ltd		50
	4,500		Changchun High & New Technology Industry Group, Inc		245
	69,100		Changjiang Securities Co Ltd		82
	225,000		Changsha Zoomlion Heavy Industry Science and Technology Development Co Ltd		217
	2,600		Changzhou Xingyu Automotive Lighting Systems Co Ltd		57
	17,400		Chaozhou Three-Circle Group Co Ltd		74
	6,200		Chengdu Kanghong Pharmaceutical Group Co Ltd		42
	40,000		China Aerospace Times Electronics Co Ltd		41
	206,000		China Aoyuan Group Ltd		212
	7,800		China Avionics Systems Co Ltd		20
	1,553,000		China Cinda Asset Management Co Ltd		293
	1,832,000		China Citic Bank		710
	54,500		China CITIC Bank Corp Ltd		40
	59,900		China Communications Construction Co Ltd		66
	904,000		China Communications Construction Co Ltd (Hong Kong)		475
	492,000		China Communications Services Corp Ltd		290
	294,000		China Conch Venture Holdings Ltd		1,368
	149,000		China Construction Bank Corp		135
	18,073,000		China Construction Bank Corp (Hong Kong)		11,743
	523,500	*	China COSCO Holdings Co Ltd		258
	111,500	g	China East Education Holdings Ltd		243
	103,800		China Eastern Airlines Corp Ltd		76
	304,000	e	China Eastern Airlines Corp Ltd (H Shares)		131
	142,000		China Education Group Holdings Ltd		261
	491,100		China Everbright Bank Co Ltd		264
	629,000		China Everbright Bank Co Ltd (Hong Kong)		199
	654,555	e	China Everbright International Ltd		374
	180,000		China Everbright Ltd		242
	323,000	e	China Evergrande Group		829
	220,000	e,g	China Feihe Ltd		514
	20,700		China Film Co Ltd		43
	43,343		China Fortune Land Development Co Ltd		97
	594,500		China Galaxy Securities Co Ltd		336
	49,700		China Galaxy Securities Co Ltd (Class A)		93
	493,400		China Gas Holdings Ltd		1,412
	53,800		China Gezhouba Group Co Ltd		47
	28,100		China Great Wall Securities Co Ltd		54
	36,200		China Greatwall Technology Group Co Ltd		86
	334,000	e	China Hongqiao Group Ltd		209
	1,777,000	g	China Huarong Asset Management Co Ltd		189
	274,200		China Insurance International Holdings Co Ltd		420
	258,400	*,e,g	China International Capital Corp Ltd		601
	21,000		China International Travel Service Corp Ltd		690
	39,600		China Jushi Co Ltd		84

197

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	206,000		China Lesso Group Holdings Ltd	$	374
	1,328,000		China Life Insurance Co Ltd		3,011
	28,200		China Life Insurance Co Ltd (Class A)		185
	57,600	*,e,g	China Literature Ltd		434
	628,000		China Longyuan Power Group Corp		395
	259,000		China Medical System Holdings Ltd		287
	7,600		China Meheco Co Ltd		16
	495,000		China Mengniu Dairy Co Ltd		2,335
	725,000		China Merchants Bank Co Ltd		3,440
	237,400		China Merchants Bank Co Ltd (Class A)		1,260
	99,200		China Merchants Energy Shipping Co Ltd		84
	243,426	e	China Merchants Holdings International Co Ltd		250
	11,900		China Merchants Property Operation & Service Co Ltd		46
	86,320	*	China Merchants Securities Co Ltd		275
	72,500		China Merchants Shekou Industrial Zone Holdings Co Ltd		162
	416,500		China Minsheng Banking Corp Ltd		325
	1,155,800		China Minsheng Banking Corp Ltd (Hong Kong)		607
	1,160,000		China Mobile Hong Kong Ltd		7,446
	678,000		China Molybdenum Co Ltd		242
	211,200		China Molybdenum Co Ltd (Class A)		116
	6,000		China National Accord Medicines Corp Ltd		41
	646,000		China National Building Material Co Ltd		823
	53,200		China National Chemical Engineering Co Ltd		42
	9,500		China National Medicines Corp Ltd		61
	145,600		China National Nuclear Power Co Ltd		94
	6,100		China National Software & Service Co Ltd		75
	42,900	*	China Northern Rare Earth Group High-Tech Co Ltd		68
	384,000		China Oilfield Services Ltd		269
	1,578,935		China Overseas Land & Investment Ltd		3,988
	75,400		China Pacific Insurance Group Co Ltd		347
	483,600		China Pacific Insurance Group Co Ltd (Hong Kong)		1,381
	1,104,000		China Power International Development Ltd		204
	408,500		China Railway Construction Corp		283
	134,913		China Railway Construction Corp Ltd		165
	236,400		China Railway Group Ltd		188
	773,000		China Railway Group Ltd (Hong Kong)		365
	370,000	g	China Railway Signal & Communication Corp Ltd		122
	1,334,000		China Reinsurance Group Corp		123
	270,000		China Resources Beer Holdings Company Ltd		1,658
	178,000		China Resources Gas Group Ltd		799
	603,836		China Resources Land Ltd		2,754
	278,000	g	China Resources Pharmaceutical Group Ltd		143
	342,000		China Resources Power Holdings Co		379
	11,100		China Resources Sanjiu Medical & Pharmaceutical Co Ltd		42
	85,400		China Shenhua Energy Co Ltd		207
	678,500		China Shenhua Energy Co Ltd (Hong Kong)		1,218
	269,700	*	China Shipbuilding Industry Co Ltd		173
	278,000		China Shipping Development Co Ltd		116
	22,800		China South Publishing & Media Group Co Ltd		36
	280,000	*,e	China Southern Airlines Co Ltd		152
	102,600	*	China Southern Airlines Co Ltd (Class A)		88
	13,500		China Spacesat Co Ltd		66
	454,720		China State Construction Engineering Corp Ltd		341
	360,000		China State Construction International Holdings Ltd		236
	2,300,000		China Telecom Corp Ltd		691
	8,480,000	g	China Tower Corp Ltd		1,475

198

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	17,400		China TransInfo Technology Co Ltd	$	56
	1,114,000		China Unicom Ltd		731
	361,400		China United Network Communications Ltd		258
	332,800		China Vanke Co Ltd		1,023
	113,800		China Vanke Co Ltd (Class A)		471
	199,800		China Yangtze Power Co Ltd		563
	232,000	g	China Yuhua Education Corp Ltd		199
	7,800		Chinese Universe Publishing and Media Group Co Ltd		13
	6,200		Chongqing Brewery Co Ltd		94
	42,600	*	Chongqing Changan Automobile Co Ltd		84
	9,300		Chongqing Fuling Zhacai Group Co Ltd		65
	424,000		Chongqing Rural Commercial Bank		157
	17,800		Chongqing Zhifei Biological Products Co Ltd		365
	558,535		CIFI Holdings Group Co Ltd		415
	1,133,000		Citic Pacific Ltd		840
	422,500	e	CITIC Securities Co Ltd		950
	122,500		CITIC Securities Co Ltd (Class A)		544
	3,490,000		CNOOC Ltd		3,357
	26,300		Contemporary Amperex Technology Co Ltd		814
	314,445		COSCO Pacific Ltd		181
	82,500		COSCO SHIPPING Development Co Ltd		25
	64,900		COSCO SHIPPING Energy Transportation Co Ltd		67
	107,700	*	COSCO SHIPPING Holdings Co Ltd		91
	1,362,000	e	Country Garden Holdings Co Ltd		1,686
	251,000		Country Garden Services Holdings Co Ltd		1,630
	757,000		CRRC Corp Ltd		303
	245,000		CRRC Corp Ltd (Class A)		198
	33,100		CSC Financial Co Ltd		244
	1,056,800		CSPC Pharmaceutical Group Ltd		2,063
	8,290		Da An Gene Co Ltd		43
	371,500	g	Dali Foods Group Co Ltd		228
	204,100		Daqin Railway Co Ltd		191
	15,820		Dawning Information Industry Co Ltd		88
	42,000		DHC Software Co Ltd		63
	10,100		Dong-E-E-Jiao Co Ltd		59
	31,200		Dongfang Electric Corp Ltd		47
	554,000		Dongfeng Motor Group Co Ltd		347
	27,500		Dongxing Securities Co Ltd		52
	92,360		East Money Information Co Ltd		328
	149,000		ENN Energy Holdings Ltd		1,635
	20,370		Eve Energy Co Ltd		149
	42,900		Everbright Securities Co Ltd		139
	52,243	*	Fangda Carbon New Material Co Ltd		47
	376,000		Far East Horizon Ltd		307
	5,400		Fiberhome Telecommunication Technologies Co Ltd		19
	45,000		First Capital Securities Co Ltd		74
	174,700		Focus Media Information Technology Co Ltd		208
	26,460		Foshan Haitian Flavouring & Food Co Ltd		632
	457,500		Fosun International		536
	105,300	*	Founder Securities Co Ltd		131
	47,900		Foxconn Industrial Internet Co Ltd		96
	974,000		Franshion Properties China Ltd		542
	6,200		Fujian Star-net Communication Co Ltd		23
	12,500		Fujian Sunner Development Co Ltd		40
	27,600		Future Land Holdings Co Ltd		142
	23,100		Fuyao Glass Industry Group Co Ltd		110

199

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	100,400	g	Fuyao Glass Industry Group Co Ltd (Hong Kong)	$	370
	700		G-bits Network Technology Xiamen Co Ltd		64
	69,900	*	GCL System Integration Technology Co Ltd		39
	342,400		GD Power Development Co Ltd		102
	1,376,248	*	GDS Holdings Ltd (ADR)		112,618
	1,112,000		Geely Automobile Holdings Ltd		2,231
	57,600		GEM Co Ltd		40
	49,100		Gemdale Corp		106
	180,000	*	Genscript Biotech Corp		297
	220,800		GF Securities Co Ltd		281
	76,000		GF Securities Co Ltd (Class A)		177
	21,900		Giant Network Group Co Ltd		62
	5,180		Gigadevice Semiconductor Beijing, Inc		132
	6,000		Glodon Co Ltd		65
	36,100		GoerTek, Inc		216
	1,905,000	*,e	GOME Electrical Appliances Holdings Ltd		252
	13,100		Grandjoy Holdings Group Co Ltd		9
	489,500		Great Wall Motor Co Ltd		624
	35,900		Gree Electric Appliances, Inc of Zhuhai		283
	73,800		Greenland Holdings Corp Ltd		69
	272,000		Greentown Service Group Co Ltd		337
	30,400		GRG Banking Equipment Co Ltd		55
	14,500	*,e	GSX Techedu, Inc (ADR)		1,307
	15,100		Guangdong Haid Group Co Ltd		136
	36,200	*	Guangdong HEC Technology Holding Co Ltd		33
	7,600		Guangdong Hongda Blasting Co Ltd		57
	578,000		Guangdong Investments Ltd		919
	74,500		Guangdong LY Intelligent Manufacturing Co Ltd		123
	132,800	*	Guanghui Energy Co Ltd		56
	482,000		Guangzhou Automobile Group Co Ltd (Hong Kong)		404
	31,300		Guangzhou Baiyun International Airport Co Ltd		63
	17,300		Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd		77
	23,500		Guangzhou Haige Communications Group, Inc Co		41
	5,100		Guangzhou Kingmed Diagnostics Group Co Ltd		77
	259,200		Guangzhou R&F Properties Co Ltd		336
	5,995		Guangzhou Shiyuan Electronic Technology Co Ltd		86
	3,400		Guangzhou Wondfo Biotech Co Ltd		42
	3,300	*	Guocheng Mining Co Ltd		8
	47,700		Guosen Securities Co Ltd		95
	86,400		Guotai Junan Securities Co Ltd		233
	100,000	g	Guotai Junan Securities Co Ltd (Hong Kong)		140
	8,600	*	Guoxuan High-Tech Co Ltd		30
	32,300		Guoyuan Securities Co Ltd		57
	139,000	e,g	Haidilao International Holding Ltd		1,007
	232,000		Haier Electronics Group Co Ltd		843
	214,200	*	Hainan Airlines Holding Co Ltd		55
	124,000		Haitian International Holdings Ltd		289
	533,600	*	Haitong Securities Co Ltd		456
	111,400	*	Haitong Securities Co Ltd (Class A)		233
	106,300		Hangzhou Hikvision Digital Technology Co Ltd		598
	11,730		Hangzhou Robam Appliances Co Ltd		57
	17,000		Hangzhou Silan Microelectronics Co Ltd		40
	121,800		Hangzhou Tigermed Consulting Co Ltd		1,849
	214,000	*,g	Hansoh Pharmaceutical Group Co Ltd		1,046
	6,400		Hefei Meiya Optoelectronic Technology, Inc		45
	24,400		Heilongjiang Agriculture Co Ltd		67

200

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	27,000		Henan Shuanghui Investment & Development Co Ltd	$	211
	119,500		Hengan International Group Co Ltd		875
	60,580		Hengli Petrochemical Co Ltd		166
	10,100		Hengtong Optic-electric Co Ltd		21
	44,330		Hengyi Petrochemical Co Ltd		68
	170,900	*	Hesteel Co Ltd		53
	6,300		Hithink RoyalFlush Information Network Co Ltd		149
	19,300	*	Holitech Technology Co Ltd		14
	9,100		Hongfa Technology Co Ltd		61
	6,260		Hopewell Highway Infrastructure Ltd		2
	85,000	*,e,g	Hua Hong Semiconductor Ltd		327
	48,600		Huaan Securities Co Ltd		63
	95,000		Huadian Power International Corp Ltd (Class A)		50
	22,540		Huadong Medicine Co Ltd		82
	10,800		Huagong Tech Co Ltd		36
	22,360		Hualan Biological Engineering, Inc		188
	113,600		Huaneng Power International, Inc		90
	604,000		Huaneng Power International, Inc (Hong Kong)		234
	250,800	e,g	Huatai Securities Co Ltd		413
	87,800		Huatai Securities Co Ltd (Class A)		266
	30,800		Huaxi Securities Co Ltd		55
	119,200		Huaxia Bank Co Ltd		108
	17,000		Huaxin Cement Co Ltd		63
	36,500		Huayu Automotive Systems Co Ltd		134
	29,483		Huazhu Group Ltd (ADR)		1,275
	51,000		Hubei Biocause Pharmaceutical Co Ltd		40
	15,600		Hubei Jumpcan Pharmaceutical Co Ltd		51
	6,200	*	Hubei Kaile Science & Technology Co Ltd		11
	72,200		Hunan Valin Steel Co Ltd		54
	12,163		Hundsun Technologies, Inc		177
	13,000	*	Hutchison China MediTech Ltd (ADR)		420
	10,300	*,e	HUYA, Inc (ADR)		247
	27,700		Iflytek Co Ltd		140
	548,000		Industrial & Commercial Bank of China Ltd		397
	11,557,000		Industrial & Commercial Bank of China Ltd (Hong Kong)		6,020
	244,000		Industrial Bank Co Ltd		580
	83,900		Industrial Securities Co Ltd		103
	578,600	*	Inner Mongolia BaoTou Steel Union Co Ltd		98
	21,900		Inner Mongolia First Machinery Group Co Ltd		36
	92,700		Inner Mongolia Junzheng Energy & Chemical Industry Group Co Ltd		99
	34,700		Inner Mongolia MengDian HuaNeng Thermal Power Corp Ltd		13
	73,100		Inner Mongolia Yili Industrial Group Co Ltd		415
	243,000		Inner Mongolia Yitai Coal Co		168
	173,500	*,g	Innovent Biologics, Inc		1,294
	17,584		Inspur Electronic Information Industry Co Ltd		79
	42,200	*	IQIYI, Inc (ADR)		953
	10,260		Jafron Biomedical Co Ltd		107
	403,900	*	JD.com, Inc (ADR)		31,347
	34,800		Jiangsu Changshu Rural Commercial Bank Co Ltd		40
	264,000		Jiangsu Express		267
	14,504		Jiangsu Hengli Hydraulic Co Ltd		153
	55,352		Jiangsu Hengrui Medicine Co Ltd		733
	16,300		Jiangsu King’s Luck Brewery JSC Ltd		107
	26,899		Jiangsu Shagang Co Ltd		48

201

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	18,100		Jiangsu Yanghe Brewery Joint-Stock Co Ltd	$	333
	1,700		Jiangsu Yangnong Chemical Co Ltd		22
	12,100		Jiangsu Yuyue Medical Equipment & Supply Co Ltd		58
	44,600		Jiangsu Zhongnan Construction Group Co Ltd		60
	10,400		Jiangsu Zhongtian Technology Co Ltd		16
	240,000		Jiangxi Copper Co Ltd		270
	32,458		Jiangxi Copper Co Ltd (Class A)		68
	11,700		Jiangxi Ganfeng Lithium Co Ltd		94
	32,400		Jiangxi Zhengbang Technology Co Ltd		87
	21,500		Jilin Aodong Pharmaceutical Group Co Ltd		53
	14,400		Jinduicheng Molybdenum Co Ltd		13
	51,200		Jinke Properties Group Co Ltd		68
	14,000		Jinyu Bio-Technology Co Ltd		56
	20,800		Joincare Pharmaceutical Group Industry Co Ltd		52
	7,400	*	Jointown Pharmaceutical Group Co Ltd		18
	9,400		Jonjee Hi-Tech Industrial And Commercial Holding Co Ltd		91
	8,800		Joyoung Co Ltd		52
	9,800		JOYY, Inc (ADR)		791
	3,700		Juewei Food Co Ltd		45
	6,600		Juneyao Airlines Co Ltd		10
	424,000	e	Kaisa Group Holdings Ltd		218
	17,200	*	KE Holdings, Inc (ADR)		1,054
	121,000		Kingboard Chemical Holdings Ltd		400
	432,000		Kingdee International Software Group Co Ltd		1,127
	855,000	e	Kingsoft Corp Ltd		4,308
	47,500	*,e,g	Koolearn Technology Holding Ltd		204
	13,300		Kweichow Moutai Co Ltd		3,271
	217,564		KWG Property Holding Ltd		375
	4,760		Laobaixing Pharmacy Chain JSC		58
	251,000		Lee & Man Paper Manufacturing Ltd		183
	98,700	e,g	Legend Holdings Corp		120
	1,378,000		Lenovo Group Ltd		911
	32,600		Lens Technology Co Ltd		155
	90,000		Leo Group Co Ltd		38
	21,000		Lepu Medical Technology Beijing Co Ltd		104
	16,000		Leyard Optoelectronic Co Ltd		18
	398,000		Li Ning Co Ltd		1,873
	17,200		Liaoning Cheng Da Co Ltd		59
	8,100		Livzon Pharmaceutical Group, Inc		59
	250,000		Logan Property Holdings Co Ltd		398
	19,700		Lomon Billions Group Co Ltd		68
	335,000	g	Longfor Properties Co Ltd		1,898
	43,460		LONGi Green Energy Technology Co Ltd		481
	12,900		Luenmei Quantum Co Ltd		25
	76,409		Luxshare Precision Industry Co Ltd		645
	343,500	e,g	Luye Pharma Group Ltd		201
	17,100		Luzhou Laojiao Co Ltd		362
	110,012		Maanshan Iron & Steel Co Ltd (Class A)		43
	18,590		Mango Excellent Media Co Ltd		185
	1,600		Maxscend Microelectronics Co Ltd		89
	47,000	*	Meinian Onehealth Healthcare Holdings Co Ltd		98
	655,100	*	Meituan Dianping (Class B)		20,636
	188,900		Metallurgical Corp of China Ltd		74
	4,000	e	Microport Scientific Corp		16
	24,800		Momo, Inc (ADR)		341

202

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	40,060		Muyuan Foodstuff Co Ltd	$	437
	29,500		NanJi E-Commerce Co Ltd		75
	3,430		Nanjing King-Friend Biochemical Pharmaceutical Co Ltd		23
	39,900		Nanjing Securities Co Ltd		83
	6,300	*	Nanyang Topsec Technologies Group, Inc		21
	42,700		NARI Technology Co Ltd		124
	4,300		NAURA Technology Group Co Ltd		101
	24,400		NavInfo Co Ltd		53
	19,600	h	Neo-China Land Group Holdings Ltd		2
	15,100		Netease.com (ADR)		6,866
	25,500		New China Life Insurance Co Ltd		234
	161,100		New China Life insurance Co Ltd (Hong Kong)		606
	34,000		New Hope Liuhe Co Ltd		139
	26,300	*	New Oriental Education & Technology Group (ADR)		3,932
	6,500		Newland Digital Technology Co Ltd		15
	12,100		Ninestar Corp		51
	15,700		Ningbo Joyson Electronic Corp		51
	12,100		Ningbo Tuopu Group Co Ltd		72
	196,732	*	NIO, Inc (ADR)		4,175
	5,600	*	Noah Holdings Ltd (ADR)		146
	30,200		Northeast Securities Co Ltd		44
	75,900		Oceanwide Holdings Co Ltd		47
	7,200		Offcn Education Technology Co Ltd		35
	93,200		Offshore Oil Engineering Co Ltd		62
	35,400		O-film Tech Co Ltd		76
	3,640		Oppein Home Group, Inc		58
	63,000		Orient Securities Co Ltd		103
	6,750		Ovctek China, Inc		62
	91,300	*	Pacific Securities Co Ltd		55
	90,600	*	Pangang Group Vanadium Titanium & Resources Co Ltd		28
	1,444,000		People’s Insurance Co Group of China Ltd		430
	70,300	*	People’s Insurance Co Group of China Ltd (Class A)		70
	23,400		Perfect World Co Ltd		115
	1,198,000		PICC Property & Casualty Co Ltd		842
	50,621	*	Pinduoduo, Inc (ADR)		3,754
	225,200		Ping An Bank Co Ltd		504
	145,100	*,e,g	Ping An Healthcare and Technology Co Ltd		1,872
	8,313,203		Ping An Insurance Group Co of China Ltd		86,298
	123,500		Ping An Insurance Group Co of China Ltd (Class A)		1,389
	23,200		Poly Property Development Co Ltd		181
	139,300		Poly Real Estate Group Co Ltd		327
	1,920,000	g	Postal Savings Bank of China Co Ltd		809
	5,400		Postal Savings Bank of China Co Ltd		4
	175,500		Power Construction Corp of China Ltd		98
	900		Proya Cosmetics Co Ltd		19
	75,200		Qingdao Haier Co Ltd		242
	63,300		Qingdao Rural Commercial Bank Corp		47
	51,600		RiseSun Real Estate Development Co Ltd		58
	54,900		Rongsheng Petro Chemical Co Ltd		152
	92,100		SAIC Motor Corp Ltd		260
	51,600		Sanan Optoelectronics Co Ltd		187
	3,300		Sangfor Technologies, Inc		103
	30,800		Sansteel Minguang Co Ltd		30
	94,300		Sany Heavy Industry Co Ltd		346
	36,400		SDIC Capital Co Ltd		82
	79,800		SDIC Power Holdings Co Ltd		106

203

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	74,700		Sealand Securities Co Ltd	$	59
	382,000		Seazen Group Ltd		325
	667,500	*,e	Semiconductor Manufacturing International Corp		1,563
	34,800		SF Holding Co Ltd		418
	1,800		SG Micro Corp		79
	110,500		Shaanxi Coal Industry Co Ltd		137
	16,370		Shandong Buchang Pharmaceuticals Co Ltd		60
	45,220		Shandong Gold Mining Co Ltd		168
	20,100		Shandong Hualu Hengsheng Chemical Co Ltd		73
	12,200		Shandong Linglong Tyre Co Ltd		53
	177,200		Shandong Nanshan Aluminum Co Ltd		60
	9,600		Shandong Sinocera Functional Material Co Ltd		53
	28,800		Shandong Sun Paper Industry JSC Ltd		60
	472,000		Shandong Weigao Group Medical Polymer Co Ltd		944
	95,500		Shanghai 2345 Network Holding Group Co Ltd		40
	4,000		Shanghai Baosight Software Co Ltd		43
	74,200		Shanghai Construction Group Co Ltd		34
	22,700	*	Shanghai Electric Group Co Ltd		17
	548,000	*	Shanghai Electric Group Co Ltd (Hong Kong)		148
	32,800		Shanghai Electric Power Co Ltd		36
	23,400		Shanghai Fosun Pharmaceutical Group Co Ltd		169
	103,000		Shanghai Fosun Pharmaceutical Group Co Ltd (Hong Kong)		431
	98,000		Shanghai Industrial Holdings Ltd		131
	12,300		Shanghai International Airport Co Ltd		125
	57,500		Shanghai International Port Group Co Ltd		35
	9,100		Shanghai Jahwa United Co Ltd		51
	9,200		Shanghai Jinjiang International Hotels Development Co Ltd		55
	234,669		Shanghai Lujiazui Finance & Trade Zone Development Co Ltd		197
	8,100		Shanghai M&G Stationery, Inc		81
	44,100		Shanghai Oriental Pearl Group Co Ltd		63
	25,500		Shanghai Pharmaceuticals Holding Co Ltd		76
	156,600		Shanghai Pharmaceuticals Holding Co Ltd (Hong Kong)		263
	330,600		Shanghai Pudong Development Bank Co Ltd		457
	5,000		Shanghai Putailai New Energy Technology Co Ltd		80
	66,900		Shanghai RAAS Blood Products Co Ltd		81
	25,000		Shanghai Tunnel Engineering Co Ltd		21
	31,100		Shanghai Yuyuan Tourist Mart Group Co Ltd		40
	20,500		Shanghai Zhangjiang High-Tech Park Development Co Ltd		57
	61,779		Shanxi Lu’an Environmental Energy Development Co Ltd		56
	62,400	*	Shanxi Meijin Energy Co Ltd		56
	30,030		Shanxi Securities Co Ltd		35
	76,500		Shanxi Taigang Stainless Steel Co Ltd		41
	10,000		Shanxi Xinghuacun Fen Wine Factory Co Ltd		292
	114,270		Shanxi Xishan Coal & Electricity Power Co Ltd		73
	56,400		Shenergy Co Ltd		46
	16,700		Shengyi Technology Co Ltd		58
	3,280		Shennan Circuits Co Ltd		57
	282,300		Shenwan Hongyuan Group Co Ltd		221
	33,600		Shenzhen Airport Co Ltd		42
	36,500		Shenzhen Energy Group Co Ltd		29
	148,000		Shenzhen Expressway Co Ltd		129
	5,500		Shenzhen Goodix Technology Co Ltd		128

204

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	10,200		Shenzhen Hepalink Pharmaceutical Group Co Ltd	$	34
	21,100		Shenzhen Inovance Technology Co Ltd		180
	213,985		Shenzhen International Holdings Ltd		341
	556,776		Shenzhen Investment Ltd		163
	11,600		Shenzhen Kaifa Technology Co Ltd		35
	7,200		Shenzhen Kangtai Biological Products Co Ltd		193
	6,800		Shenzhen Kingdom Sci-Tech Co Ltd		18
	59,561		Shenzhen Mindray Bio-Medical Electronics Co Ltd		3,051
	86,800		Shenzhen Overseas Chinese Town Co Ltd		87
	14,300		Shenzhen Salubris Pharmaceuticals Co Ltd		73
	11,600		Shenzhen Sunway Communication Co Ltd		94
	154,100		Shenzhou International Group Holdings Ltd		2,624
	14,500		Shijiazhuang Yiling Pharmaceutical Co Ltd		57
	218,000		Shimao Property Holdings Ltd		909
	11,900	*	Siasun Robot & Automation Co Ltd		25
	32,200		Sichuan Chuantou Energy Co Ltd		46
	21,900		Sichuan Kelun Pharmaceutical Co Ltd		72
	13,700		Sichuan Languang Development Co Ltd		10
	6,600		Sichuan Swellfun Co Ltd		63
	304,400		Silergy Corp		18,047
	10,628	*	Sina Corp		453
	35,900	†	Sinolink Securities Co Ltd		80
	623,000		Sino-Ocean Land Holdings Ltd		126
	262,000		Sinopec Engineering Group Co Ltd		97
	880,000		Sinopec Shanghai Petrochemical Co Ltd		161
	119,300		Sinopec Shanghai Petrochemical Co Ltd (Class A)		58
	226,800		Sinopharm Group Co		479
	24,400		Sinotrans Ltd (Class A)		13
	129,500		Sinotruk Hong Kong Ltd		334
	428,000	*	Soho China Ltd		116
	29,200		Songcheng Performance Development Co Ltd		79
	43,940		SooChow Securities Co Ltd		69
	60,100		Southwest Securities Co Ltd		47
	7,300		Spring Airlines Co Ltd		48
	18,800		STO Express Co Ltd		42
	436,500		Sun Art Retail Group Ltd		485
	442,000		Sunac China Holdings Ltd		1,741
	107,000		Suning.com Co Ltd		143
	134,600		Sunny Optical Technology Group Co Ltd		2,091
	19,000		Sunwoda Electronic Co Ltd		76
	5,900		Suofeiya Home Collection Co Ltd		23
	16,500		Suzhou Dongshan Precision Manufacturing Co Ltd		65
	26,900		Suzhou Gold Mantis Construction Decoration Co Ltd		38
	70,300	*	TAL Education Group (ADR)		5,346
	16,900		Tangshan Jidong Cement Co Ltd		39
	46,900		TBEA Co Ltd		61
	156,400		TCL Corp		142
	4,223,600		Tencent Holdings Ltd		285,276
	65,300	*	Tencent Music Entertainment (ADR)		964
	4,400		Thunder Software Technology Co Ltd		56
	82,500		Tianfeng Securities Co Ltd		79
	5,100		Tianjin 712 Communication & Broadcasting Co Ltd		34
	37,900		Tianjin Chase Sun Pharmaceutical Co Ltd		30
	33,400		Tianjin Zhonghuan Semiconductor Co Ltd		109
	21,800		Tianma Microelectronics Co Ltd		48
	20,360	*	Tianqi Lithium Corp		60

205

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	32,600		Tianshui Huatian Technology Co Ltd	$	66
	356,000		Tingyi Cayman Islands Holding Corp		630
	5,100		Toly Bread Co Ltd		45
	168,800	*	Tongcheng-Elong Holdings Ltd		310
	13,500	*	TongFu Microelectronics Co Ltd		46
	31,900		Tonghua Dongbao Pharmaceutical Co Ltd		64
	23,300		Tongkun Group Co Ltd		48
	57,100		Tongling Nonferrous Metals Group Co Ltd		19
	44,700		Tongwei Co Ltd		176
	3,500	*	Topchoice Medical Corp		110
	7,114,912	g	Topsports International Holdings Ltd		9,892
	43,700		Transfar Zhilian Co Ltd		36
	184,000		Travelsky Technology Ltd		395
	83,600	*	Trip.com Group Ltd (ADR)		2,603
	82,000		Tsingtao Brewery Co Ltd		671
	9,100		Tsingtao Brewery Co Ltd (Class A)		101
	51,000	*	Tunghsu Optoelectronic Technology Co Ltd		23
	7,200		Unigroup Guoxin Microelectronics Co Ltd		127
	241,000		Uni-President China Holdings Ltd		221
	28,700		Unisplendour Corp Ltd		108
	15,400		Universal Scientific Industrial Shanghai Co Ltd		58
	4,300		Venustech Group, Inc		22
	82,700	*	Vipshop Holdings Ltd (ADR)		1,293
	7,500	*	Visionox Technology, Inc		17
	17,400		Walvax Biotechnology Co Ltd		130
	29,200	*	Wanda Film Holding Co Ltd		77
	29,900		Wangsu Science & Technology Co Ltd		36
	36,400		Wanhua Chemical Group Co Ltd		373
	959,000		Want Want China Holdings Ltd		670
	10,700	*,e	Weibo Corp (ADR)		390
	373,000		Weichai Power Co Ltd		755
	71,000		Weichai Power Co Ltd (Class A)		158
	11,600		Weifu High-Technology Group Co Ltd		43
	6,000		Weihai Guangwei Composites Co Ltd		63
	79,440		Wens Foodstuffs Group Co Ltd		229
	48,800		Western Securities Co Ltd		68
	10,700		Westone Information Industry, Inc		29
	6,000		Will Semiconductor Ltd		157
	14,862	e	Wilmar International Ltd		48
	10,600		Wingtech Technology Co Ltd		183
	29,250		Winning Health Technology Group Co Ltd		84
	478,000		Winteam Pharmaceutical Group Ltd		201
	16,400	*	Wonders Information Co Ltd		58
	61,700		Wuchan Zhongda Group Co Ltd		42
	18,020		Wuhan Guide Infrared Co Ltd		92
	22,600		Wuhu Shunrong Sanqi Interactive Entertainment Network Technology Co Ltd		132
	31,200		Wuhu Token Science Co Ltd		46
	43,600		Wuliangye Yibin Co Ltd		1,421
	12,200		WUS Printed Circuit Kunshan Co Ltd		34
	23,980		WuXi AppTec Co Ltd		359
	51,972	g	WuXi AppTec Co Ltd (Hong Kong)		752
	2,757,450	*,g	Wuxi Biologics Cayman, Inc		67,580
	10,800		Wuxi Lead Intelligent Equipment Co Ltd		77
	26,200		Wuxi Taiji Industry Co Ltd		40
	78,500		XCMG Construction Machinery Co Ltd		64

206

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	12,300		Xiamen C & D, Inc	$	16
	5,300		Xiamen Intretech, Inc		46
	8,700		Xiamen Tungsten Co Ltd		17
	1,946,800	*,g	Xiaomi Corp		5,270
	110,000		Xinhu Zhongbao Co Ltd		55
	42,600		Xinjiang Goldwind Science & Technology Co Ltd		64
	122,400		Xinjiang Goldwind Science & Technology Co Ltd (Hong Kong)		108
	738,863		Xinyi Solar Holdings Ltd		1,178
	19,340	*	XPeng, Inc (ADR)		388
	48,100		Yango Group Co Ltd		52
	34,149		Yangzijiang Shipbuilding		25
	13,300		Yantai Jereh Oilfield Services Group Co Ltd		59
	362,000		Yanzhou Coal Mining Co Ltd		271
	57,000		Yanzhou Coal Mining Co Ltd (Class A)		78
	7,050		Yealink Network Technology Corp Ltd		63
	15,100		Yifan Pharmaceutical Co Ltd		56
	5,340		Yifeng Pharmacy Chain Co Ltd		78
	87,000		Yihai International Holding Ltd		1,367
	36,820		Yintai Gold Co Ltd		57
	120,400		Yonghui Superstores Co Ltd		139
	31,959		Yonyou Network Technology Co Ltd		180
	6,000		Youzu Interactive Co Ltd		15
	19,100	*	Yuan Longping High-tech Agriculture Co Ltd		51
	1,322,000		Yuexiul Property Co Ltd		260
	202,926		Yum China Holdings, Inc		10,745
	29,380		Yunda Holding Co Ltd		81
	12,200		Yunnan Baiyao Group Co Ltd		183
	8,200		Yunnan Energy New Material Co Ltd		111
	300,220		Yuzhou Properties Co		120
	12,700	*	Zai Lab Ltd (ADR)		1,056
	5,600		Zhangzhou Pientzehuang Pharmaceutical Co Ltd		201
	217,000		Zhaojin Mining Industry Co Ltd		267
	86,320	*	Zhejiang Century Huatong Group Co Ltd		121
	22,600		Zhejiang Chint Electrics Co Ltd		101
	44,700	*	Zhejiang Conba Pharmaceutical Co Ltd		34
	33,600		Zhejiang Dahua Technology Co Ltd		102
	4,860		Zhejiang Dingli Machinery Co Ltd		71
	302,000		Zhejiang Expressway Co Ltd		219
	18,150		Zhejiang Huahai Pharmaceutical Co Ltd		86
	14,910	*	Zhejiang Huayou Cobalt Co Ltd		76
	6,900		Zhejiang Jingsheng Mechanical & Electrical Co Ltd		31
	36,900		Zhejiang Juhua Co Ltd		37
	43,900		Zhejiang Longsheng Group Co Ltd		88
	24,900		Zhejiang NHU Co Ltd		109
	39,390		Zhejiang Sanhua Intelligent Controls Co Ltd		130
	31,300		Zhejiang Semir Garment Co Ltd		37
	2,400		Zhejiang Supor Co Ltd		28
	15,100		Zhejiang Wanfeng Auto Wheel Co Ltd		15
	20,500		Zhejiang Weixing New Building Materials Co Ltd		48
	5,300		Zhejiang Wolwo Bio-Pharmaceutical Co Ltd		44
	28,200		Zhengzhou Yutong Bus Co Ltd		65
	271,000		Zhenro Properties Group Ltd		166
	36,500		Zheshang Securities Co Ltd		96
	72,600	*,e,g	ZhongAn Online P&C Insurance Co Ltd		364
	7,200		Zhongji Innolight Co Ltd		53

207

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	47,900		Zhongjin Gold Corp Ltd	$	71
	98,500		Zhongsheng Group Holdings Ltd		620
	78,600	*	Zhongtian Financial Group Co Ltd		39
	108,700		Zhuzhou CSR Times Electric Co Ltd		365
	1,094,000		Zijin Mining Group Co Ltd		699
	240,800		Zijin Mining Group Co Ltd (Class A)		220
	61,800	*	Zoomlion Heavy Industry Science and Technology Co Ltd		74
	46,800		ZTE Corp		229
	150,000	e	ZTE Corp (Class H)		361
	73,946		ZTO Express Cayman, Inc (ADR)		2,212
			TOTAL CHINA		1,209,608
COLOMBIA - 0.0%
	45,373		BanColombia S.A.		288
	82,333		BanColombia S.A. (Preference)		531
	1,113,159		Ecopetrol S.A.		551
	41,509		Grupo de Inversiones Suramericana S.A.		224
	82,104		Interconexion Electrica S.A.		437
			TOTAL COLOMBIA		2,031
CZECH REPUBLIC - 0.0%
	32,620		CEZ AS		617
	13,623		Komercni Banka AS		287
	857,788	g	Moneta Money Bank AS		1,970
			TOTAL CZECH REPUBLIC		2,874
DENMARK - 0.8%
	1,114	e	Ambu A.S.		31
	32		AP Moller - Maersk AS (Class A)		47
	56		AP Moller - Maersk AS (Class B)		89
	103,643		Carlsberg AS (Class B)		13,963
	899		Christian Hansen Holding		100
	11,012		Coloplast AS		1,745
	5,880		Danske Bank AS		80
	99,740		DSV AS		16,178
	33,581	*	Genmab AS		12,187
	1,092		GN Store Nord		82
	752		H Lundbeck AS		25
	659,507		Novo Nordisk AS		45,694
	1,773		Novozymes AS		111
	611,026	g	Orsted AS		84,236
	811		Pandora AS		59
	784		Tryg A.S.		25
	1,679		Vestas Wind Systems AS		271
	1,033	*,e	William Demant Holding A.S.		32
			TOTAL DENMARK		174,955
EGYPT - 0.0%
	256,188		Commercial International Bank		1,081
	213,703		Eastern Tobacco		163
	148,275		ElSwedy Cables Holding Co		65
			TOTAL EGYPT		1,309
FINLAND - 0.3%
	1,199		Elisa Oyj (Series A)		70

208

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,780		Fortum Oyj	$	76
	2,895		Kone Oyj (Class B)		254
	865,283		Neste Oil Oyj		45,566
	48,185		Nokia Oyj (Turquoise)		189
	56,827		Nordea Bank Abp		432
	961		Orion Oyj (Class B)		44
	208,533		Sampo Oyj (A Shares)		8,258
	57,352		Stora Enso Oyj (R Shares)		898
	4,547		UPM-Kymmene Oyj		138
	3,172	e	Wartsila Oyj (B Shares)		25
			TOTAL FINLAND		55,950
FRANCE - 3.3%
	196,401	e	Accor S.A.		5,497
	1,572	*	Adevinta ASA		27
	156		Aeroports de Paris		16
	33,940		Air Liquide		5,380
	1,092,498		Airbus SE		79,234
	1,643	*	Alstom RGPT		82
	608	g	Amundi S.A.		43
	693		Arkema		73
	986		Atos Origin S.A.		79
	16,487		AXA S.A.		305
	327		BioMerieux		51
	1,326,828		BNP Paribas S.A.		47,997
	9,916		Bollore		37
	2,285		Bouygues S.A.		79
	2,946		Bureau Veritas S.A.		66
	1,372		Cap Gemini S.A.		176
	5,162		Carrefour S.A.		83
	16	*,e	Casino Guichard Perrachon S.A.		0^
	1,460		CNP Assurances		18
	612,406		Compagnie de Saint-Gobain		25,652
	405,143		Credit Agricole S.A.		3,535
	168,259		Danone		10,899
	11		Dassault Aviation S.A.		9
	394,607		Dassault Systemes S.A.		73,627
	2,074		Edenred		93
	849		Eiffage S.A.		69
	69,087		Electricite de France		730
	204,730		Essilor International S.A.		27,871
	487		Eurazeo		26
	767		Faurecia		33
	268		Fonciere Des Regions		19
	221,842		Gaz de France		2,965
	4,460		Gecina S.A.		588
	4,412		Getlink S.E.		60
	270		Hermes International		233
	5,556	e	Icade		311
	63		Iliad S.A.		12
	516	e	Ingenico		80
	265		Ipsen		28
	98	e	JC Decaux S.A.		2
	130,049		Kering		86,267
	918	e	Klepierre		13
	881	g	La Francaise des Jeux SAEM		32

209

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,274		Legrand S.A.	$	181
	152,249		L’Oreal S.A.		49,546
	55,081		LVMH Moet Hennessy Louis Vuitton S.A.		25,772
	93,239		Michelin (C.G.D.E.) (Class B)		10,009
	8,065		Natixis		18
	225,048		Orange S. A.		2,344
	519		Orpea		59
	7,069		Pernod-Ricard S.A.		1,127
	5,018	e	Peugeot S.A.		91
	1,756		Publicis Groupe S.A.		57
	159		Remy Cointreau S.A.		29
	1,640		Renault S.A.		43
	2,732		Safran S.A.		269
	260,568		Sanofi-Aventis		26,112
	13,261		Sartorius Stedim Biotech		4,577
	710,653		Schneider Electric S.A.		88,333
	1,118	*	SCOR SE		31
	219		SEB S.A.		36
	6,915		Societe Generale		92
	754		Sodexho Alliance S.A.		54
	46,611		Suez Environnement S.A.		861
	164,281		Teleperformance		50,648
	1,068		Thales S.A.		80
	69,965	e	Total S.A.		2,403
	233,561	*	Ubisoft Entertainment		21,050
	933	e	Unibail-Rodamco-Westfield		34
	91		Unibail-Rodamco-Westfield (Paris)		3
	880,667		Valeo S.A.		27,044
	63,281		Veolia Environnement		1,365
	113,941		Vinci S.A.		9,521
	7,070		Vivendi Universal S.A.		197
	271		Wendel		25
	1,168	*,g	Worldline S.A.		96
			TOTAL FRANCE		694,504
GERMANY - 2.7%
	38,416		Adidas-Salomon AG.		12,406
	72,467		Allianz AG.		13,909
	308,876		Aroundtown S.A.		1,550
	63,991		BASF SE		3,897
	397,237		Bayer AG.		24,507
	65,273		Bayerische Motoren Werke AG.		4,737
	2,287		Bayerische Motoren Werke AG. (Preference)		125
	61,330		Bechtle AG.		12,410
	132,791		Beiersdorf AG.		15,077
	1,158,743		Borussia Dortmund GmbH & Co KGaA		6,949
	1,316		Brenntag AG.		84
	295		Carl Zeiss Meditec AG.		37
	10,060		Commerzbank AG.		49
	938		Continental AG.		102
	41,017	g	Covestro AG.		2,034
	7,297		Daimler AG. (Registered)		394
	1,101	*,g	Delivery Hero AG.		126
	54,391		Deutsche Annington Immobilien SE		3,729
	16,744	*	Deutsche Bank AG. (Registered)		141
	100,114		Deutsche Boerse AG.		17,552

210

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,367	*	Deutsche Lufthansa AG.	$	12
	8,430		Deutsche Post AG.		382
	589,237		Deutsche Telekom AG.		9,811
	42,913		Deutsche Wohnen AG.		2,145
	266,273		E.ON AG.		2,935
	2,105		Evonik Industries AG.		54
	472		Fraport AG. Frankfurt Airport Services Worldwide		19
	64,299		Fresenius Medical Care AG.		5,436
	3,564		Fresenius SE		162
	655		Fuchs Petrolub AG. (Preference)		33
	1,542		GEA Group AG.		54
	514		Hannover Rueckversicherung AG.		80
	877,330		HeidelbergCement AG.		53,610
	368,481	*	HelloFresh SE		20,478
	22,878		Henkel KGaA		2,140
	1,518		Henkel KGaA (Preference)		159
	90		Hochtief AG.		7
	3,759,908		Infineon Technologies AG.		105,976
	489		KION Group AG.		42
	606		Knorr-Bremse AG.		71
	830		Lanxess AG.		47
	7,588		LEG Immobilien AG.		1,082
	1,101		Merck KGaA		160
	334		Metro Wholesale & Food Specialist AG.		3
	451		MTU Aero Engines Holding AG.		75
	19,945		Muenchener Rueckver AG.		5,070
	395		Nemetschek AG.		29
	756	*	OSRAM Licht AG.		45
	472,863	*	Paion AG.		1,287
	1,306	*	Porsche AG.		78
	683		Puma AG. Rudolf Dassler Sport		61
	2,316,636		RWE AG.		86,756
	8,900		SAP AG.		1,386
	303		Sartorius AG.		124
	916	g	Scout24 AG.		80
	850,340		Siemens AG.		107,389
	425,721	*,h	Siemens Energy AG.		11,480
	2,477	g	Siemens Healthineers AG.		111
	1,096		Symrise AG.		151
	410,903	*,g	TeamViewer AG.		20,266
	10,957		Telefonica Deutschland Holding AG.		28
	1,401	*	ThyssenKrupp AG.		7
	1,599		Uniper SE		52
	1,032		United Internet AG.		39
	1,883	*	Volkswagen AG. (Preference)		303
	1,293	*,g	Zalando SE		121
			TOTAL GERMANY		559,651
GREECE - 0.0%
	5,760	*,†	Hellenic Duty Free Shops S.A.		0^
	44,099		Hellenic Telecommunications Organization S.A.		635
	19,961		JUMBO S.A.		349
	12,529		Motor Oil Hellas Corinth Refineries S.A.		148
	36,915		OPAP S.A.		350
			TOTAL GREECE		1,482

211

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
HONG KONG - 0.3%
	1,493,558		AIA Group Ltd	$	14,846
	2,140,000	*,e	Alibaba Pictures Group Ltd		319
	1,818		ASM Pacific Technology		19
	12,085		Bank of East Asia Ltd		22
	31,353		BOC Hong Kong Holdings Ltd		83
	130,000	*,e	Cathay Pacific Airways Ltd		90
	220,000		China Overseas Property Holdings Ltd		181
	451,999		China Resources Cement Holdings Ltd		621
	22,125		CK Asset Holdings Ltd		109
	47,953		CK Infrastructure Holdings Ltd		225
	208,954		CLP Holdings Ltd		1,951
	700	e	Dairy Farm International Holdings Ltd		3
	415,654		Hang Lung Properties Ltd		1,059
	6,472		Hang Seng Bank Ltd		96
	162,073		Henderson Land Development Co Ltd		602
	13,000	e	HK Electric Investments & HK Electric Investments Ltd		13
	24,660		HKT Trust and HKT Ltd		33
	1,279,878		Hong Kong & China Gas Ltd		1,858
	155,488		Hong Kong Electric Holdings Ltd		820
	428,878		Hong Kong Exchanges and Clearing Ltd		20,189
	261,765		Hongkong Land Holdings Ltd		975
	1,900		Jardine Matheson Holdings Ltd		76
	2,200	e	Jardine Strategic Holdings Ltd		44
	1,526		Kerry Properties Ltd		4
	214,500		Kingboard Laminates Holdings Ltd		297
	167,568		Link REIT		1,373
	1,077,603		Melco Crown Entertainment Ltd (ADR)		17,942
	13,080		MTR Corp		65
	190,573		New World Development Co Ltd		930
	277,000	e	Nine Dragons Paper Holdings Ltd		350
	638		NWS Holdings Ltd		0^
	6,724	*	Pacific Century Premium Developments Ltd		2
	43,262		PCCW Ltd		26
	1,949,250		Sino Biopharmaceutical		2,135
	32,885		Sino Land Co		38
	18,611		SJM Holdings Ltd		22
	270,000	e	SSY Group Ltd		154
	162,968		Sun Hung Kai Properties Ltd		2,100
	1,628		Swire Pacific Ltd (Class A)		8
	10,977		Swire Properties Ltd		29
	11,902	e	Techtronic Industries Co		158
	62,000		Vinda International Holdings Ltd		204
	95,500	g	WH Group Ltd		78
	273,000		Wharf Holdings Ltd		548
	141,537		Wharf Real Estate Investment Co Ltd		580
			TOTAL HONG KONG		71,277
HUNGARY - 0.0%
	74,536	*	MOL Hungarian Oil & Gas plc		406
	41,193	*	OTP Bank		1,240
	24,748		Richter Gedeon Rt		522
			TOTAL HUNGARY		2,168
INDIA - 0.5%
	128,931		Ambuja Cements Ltd		379

212

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	53,297		Asian Paints Ltd	$	1,436
	54,530		Aurobindo Pharma Ltd		590
	28,434	*,g	Avenue Supermarts Ltd		850
	417,813	*	Axis Bank Ltd		2,418
	33,680		Bajaj Finance Ltd		1,509
	7,117		Bajaj Finserv Ltd		568
	13,038		Bajaj Holdings and Investment Ltd		510
	136,498	*,g	Bandhan Bank Ltd		510
	43,417		Berger Paints India Ltd		344
	40,580		Bharat Forge Ltd		247
	127,534		Bharat Petroleum Corp Ltd		610
	231,511		Bharti Airtel Ltd		1,324
	67,782		Bharti Infratel Ltd		161
	53,100	*	Biocon Ltd		322
	997		Bosch Ltd		186
	10,538		Britannia Industries Ltd		544
	66,477		Cipla Ltd		699
	257,033		Coal India Ltd		406
	12,052		Colgate-Palmolive India Ltd		235
	40,841		Container Corp Of India Ltd		204
	98,770		Dabur India Ltd		685
	14,816		Divi S Laboratories Ltd		613
	108,938		DLF Ltd		226
	21,171		Dr Reddy’s Laboratories Ltd		1,483
	24,386		Eicher Motors Ltd		728
	287,870		GAIL India Ltd		340
	75,831		Godrej Consumer Products Ltd		748
	57,462		Grasim Industries Ltd		582
	47,050		Havells India Ltd		433
	201,223		HCL Technologies Ltd		2,218
	9,681	g	HDFC Asset Management Co Ltd		299
	129,309	*,g	HDFC Life Insurance Co Ltd		982
	18,548		Hero Honda Motors Ltd		792
	215,938		Hindalco Industries Ltd		516
	150,488		Hindustan Lever Ltd		4,229
	118,950		Hindustan Petroleum Corp Ltd		291
	301,294		Housing Development Finance Corp		7,141
	935,598	*	ICICI Bank Ltd		4,524
	38,529	g	ICICI Lombard General Insurance Co Ltd		679
	64,420	g	ICICI Prudential Life Insurance Co Ltd		369
	382,985		Indian Oil Corp Ltd		384
	41,516		Indraprastha Gas Ltd		219
	11,487		Info Edge India Ltd		567
	627,403		Infosys Technologies Ltd		8,627
	17,896	*,g	InterGlobe Aviation Ltd		302
	544,631		ITC Ltd		1,272
	156,179		JSW Steel Ltd		591
	13,568		Jubilant Foodworks Ltd		430
	88,223		Larsen & Toubro Ltd		1,082
	58,150		LIC Housing Finance Ltd		219
	41,006		Lupin Ltd		561
	139,809		Mahindra & Mahindra Ltd		1,156
	82,670		Marico Ltd		407
	22,290		Maruti Suzuki India Ltd		2,043
	174,430		Motherson Sumi Systems Ltd		273
	96,684		Mundra Port and Special Economic Zone Ltd		450

213

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	4,287		Nestle India Ltd	$	925
	458,950		NTPC Ltd		531
	1,054		Page Industries Ltd		305
	117,205		Petronet LNG Ltd		351
	22,810		Pidilite Industries Ltd		444
	16,980		Piramal Healthcare Ltd		289
	351,367		Power Grid Corp of India Ltd		775
	522,913		Reliance Industries Ltd		15,859
	134,713		Rural Electrification Corp Ltd		182
	73,234	*,g	SBI Life Insurance Co Ltd		806
	343,124		Sesa Sterlite Ltd		640
	1,656		Shree Cement Ltd		456
	16,882		Shriram Transport Finance Co Ltd		142
	13,543		Siemens India Ltd		232
	321,382	*	State Bank of India		811
	155,295		Sun Pharmaceutical Industries Ltd		1,056
	164,794		Tata Consultancy Services Ltd		5,575
	329,129	*	Tata Motors Ltd		597
	63,408		Tata Steel Ltd		311
	78,987		Tata Tea Ltd		536
	85,777		Tech Mahindra Ltd		923
	56,745		Titan Industries Ltd		926
	9,576		Torrent Pharmaceuticals Ltd		364
	21,381		Ultra Tech Cement Ltd		1,177
	90,778		United Phosphorus Ltd		621
	53,756	*	United Spirits Ltd		376
	211,296		Wipro Ltd		899
	163,309		ZEE Telefilms Ltd		464
			TOTAL INDIA		97,086
INDONESIA - 0.1%
	3,008,000		Adaro Energy Tbk		231
	67,817,400		Bank Rakyat Indonesia		13,913
	416,100		Indofood CBP Sukses Makmur Tbk		282
	1,289,900		PT ACE Hardware Indonesia Tbk		138
	3,696,800		PT Astra International Tbk		1,113
	1,780,500		PT Bank Central Asia Tbk		3,250
	3,459,747		PT Bank Mandiri Persero Tbk		1,157
	1,275,700		PT Bank Negara Indonesia		383
	4,770,200	*	PT Barito Pacific Tbk		255
	1,381,100		PT Charoen Pokphand Indonesia Tbk		529
	691,700		PT Excelcomindo Pratama		95
	85,400	*	PT Gudang Garam Tbk		230
	1,887,700		PT Hanjaya Mandala Sampoerna Tbk		178
	481,300		PT Indah Kiat Pulp and Paper Corp Tbk		292
	291,400		PT Indocement Tunggal Prakarsa Tbk		204
	851,900		PT Indofood Sukses Makmur Tbk		411
	3,866,000		PT Kalbe Farma Tbk		404
	2,537,300		PT Perusahaan Gas Negara Persero Tbk		159
	575,000		PT Semen Gresik Persero Tbk		356
	9,353,900		PT Telekomunikasi Indonesia Persero Tbk		1,615
	1,392,100		PT Unilever Indonesia Tbk		760
	298,800		PT United Tractors Tbk		459
			TOTAL INDONESIA		26,414

214

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
IRELAND - 0.6%
	764	*	AerCap Holdings NV	$	19
	3,905,171		AIB Group plc		4,006
	3,123,349		Bank of Ireland Group plc		5,791
	577,495		CRH plc		20,941
	166,583	*	Flutter Entertainment plc		26,240
	6,318,432		Hibernia REIT plc		7,380
	93,203		Kerry Group plc (Class A)		11,938
	739,784		Keywords Studios plc		20,772
	1,310		Kingspan Group plc		119
	1,315		Paddy Power plc		209
	820,852		Smurfit Kappa Group plc		32,208
			TOTAL IRELAND		129,623
ISRAEL - 0.1%
	182		Azrieli Group		8
	137,155		Bank Hapoalim Ltd		733
	173,082		Bank Leumi Le-Israel		762
	975	*	Check Point Software Technologies		117
	251		Elbit Systems Ltd		30
	6,219		Isracard Ltd		15
	6,873		Israel Chemicals Ltd		24
	11,697		Israel Discount Bank Ltd		32
	156,175	*	Kornit Digital Ltd		10,131
	22,423		Mizrahi Tefahot Bank Ltd		398
	532	*	Nice Systems Ltd		121
	9,338	*	Teva Pharmaceutical Industries Ltd (ADR)		84
	439	*	Wix.com Ltd		112
			TOTAL ISRAEL		12,567
ITALY - 1.3%
	675,087		Amplifon S.p.A.		24,141
	9,400		Assicurazioni Generali S.p.A.		132
	4,979	*	Autostrade S.p.A.		78
	2,573,598		Davide Campari-Milano NV		28,089
	160		DiaSorin S.p.A.		32
	8,502,578		Enel S.p.A.		73,768
	21,685		ENI S.p.A.		169
	170,542		Ferrari NV		31,298
	5,127		FinecoBank Banca Fineco S.p.A		71
	2,236		Finmeccanica S.p.A.		13
	2,215	g	Infrastrutture Wireless Italiane S.p.A		24
	1,715,301	e	Intesa Sanpaolo S.p.A.		3,227
	426,965		Mediobanca S.p.A.		3,346
	633,546		Moncler S.p.A		25,926
	3,095	*,e,g	Nexi S.p.A		62
	781	g	Pirelli & C S.p.A		3
	5,283	g	Poste Italiane S.p.A		47
	2,775,681	e	Prada S.p.A		10,921
	1,962		Prysmian S.p.A.		57
	791		Recordati S.p.A.		41
	17,362		Snam Rete Gas S.p.A.		89
	60,931		Telecom Italia RSP		25
	84,290	e	Telecom Italia S.p.A.		34
	11,994		Terna Rete Elettrica Nazionale S.p.A.		84
	7,661,249		UniCredit S.p.A.		63,299
			TOTAL ITALY		264,976

215

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
JAPAN - 6.7%
	110		ABC-Mart, Inc	$	6
	4,600		Acom Co Ltd		20
	176		Activia Properties Inc		670
	121,700		Advantest Corp		5,920
	5,546		Aeon Co Ltd		149
	797		Aeon Mall Co Ltd		11
	17,073		Air Water, Inc		231
	387,990		Aisin Seiki Co Ltd		12,413
	3,968		Ajinomoto Co, Inc		81
	1,905		Alfresa Holdings Corp		42
	6,750		All Nippon Airways Co Ltd		156
	2,744		Amada Co Ltd		26
	141,499	*,e	Amazia, Inc		4,784
	984		Aozora Bank Ltd		16
	3,851		Asahi Breweries Ltd		134
	1,601		Asahi Glass Co Ltd		47
	1,600		Asahi Intecc Co Ltd		50
	149,726		Asahi Kasei Corp		1,306
	7,300		Ashikaga Holdings Co Ltd		17
	181,300		Astellas Pharma, Inc		2,703
	137,421	e	Bank of Kyoto Ltd		6,644
	145,800	*,e	BASE, Inc		15,370
	468,700		Benefit One, Inc		11,874
	453		Benesse Holdings, Inc		12
	197		BLife Investment Corp		503
	4,530		Bridgestone Corp		143
	2,285		Brother Industries Ltd		36
	800		Calbee, Inc		26
	8,577		Canon, Inc		142
	1,133	*,e	Casio Computer Co Ltd		18
	40,481		Central Japan Railway Co		5,803
	500	e	Century Leasing System, Inc		27
	2,862		Chiba Bank Ltd		16
	95,406		Chubu Electric Power Co, Inc		1,160
	69,707		Chugai Pharmaceutical Co Ltd		3,128
	1,666	e	Chugoku Electric Power Co, Inc		21
	500		Coca-Cola West Japan Co Ltd		8
	6,100		Concordia Financial Group Ltd		21
	100		Cosmos Pharmaceutical Corp		17
	800		CyberAgent, Inc		49
	2,438		Dai Nippon Printing Co Ltd		49
	1,746		Daicel Chemical Industries Ltd		13
	1,000		Daifuku Co Ltd		101
	9,211		Dai-ichi Mutual Life Insurance Co		130
	2,798,682		Daiichi Sankyo Co Ltd		85,913
	75,277		Daikin Industries Ltd		13,909
	3,849		Daito Trust Construction Co Ltd		341
	4,856		Daiwa House Industry Co Ltd		125
	14,480	*	Daiwa Securities Group, Inc		61
	3,687		Denso Corp		162
	1,855		Dentsu, Inc		55
	200		Disco Corp		49
	3,532		Don Quijote Co Ltd		82
	83,797		East Japan Railway Co		5,153

216

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	353,228		Eisai Co Ltd	$	32,261
	993		Electric Power Development Co		15
	1,300	e	FamilyMart Co Ltd		29
	1,585		Fanuc Ltd		304
	4,283		Fast Retailing Co Ltd		2,692
	65,200	*,e	Freee KK		4,945
	1,264		Fuji Electric Holdings Co Ltd		40
	5,239		Fuji Heavy Industries Ltd		102
	3,086		Fujifilm Holdings Corp		152
	1,698		Fujitsu Ltd		232
	846		Fukuoka Financial Group, Inc		14
	29		GLP J-Reit		45
	125,699		GMO Payment Gateway, Inc		13,465
	2,400		Hakuhodo DY Holdings, Inc		31
	1,400		Hamamatsu Photonics KK		71
	1,893		Hankyu Hanshin Holdings, Inc		61
	232		Hikari Tsushin, Inc		55
	382	*	Hino Motors Ltd		2
	273		Hirose Electric Co Ltd		35
	575		Hisamitsu Pharmaceutical Co, Inc		29
	1,133	*,e	Hitachi Construction Machinery Co Ltd		41
	1,960,915	*	Hitachi Ltd		66,395
	23,985		Hitachi Metals Ltd		370
	13,896		Honda Motor Co Ltd		330
	412		Hoshizaki Electric Co Ltd		33
	3,227	*	Hoya Corp		364
	84,328		Hulic Co Ltd		791
	400		Hulic Reit, Inc		530
	250,000		Ibiden Co Ltd		8,519
	24,476	e	Idemitsu Kosan Co Ltd		523
	1,429		Iida Group Holdings Co Ltd		29
	7,722,600		Infomart Corp		68,514
	109,884		Inpex Holdings, Inc		590
	6		Invincible Investment Corp		2
	122,000		IR Japan Holdings Ltd		15,462
	481	e	Isetan Mitsukoshi Holdings Ltd		3
	4,300		Isuzu Motors Ltd		38
	1,700		IT Holdings Corp		36
	400		Ito En Ltd		29
	11,469	e	Itochu Corp		294
	1,000		Itochu Techno-Science Corp		38
	924		Japan Airlines Co Ltd		17
	503	e	Japan Airport Terminal Co Ltd		22
	429,200		Japan Elevator Service Holdings Co Ltd		14,970
	4,446		Japan Post Bank Co Ltd		35
	13,440		Japan Post Holdings Co Ltd		92
	2,500		Japan Post Insurance Co Ltd		39
	3		Japan Prime Realty Investment Corp		9
	12		Japan Real Estate Investment Corp		61
	16		Japan Retail Fund Investment Corp		25
	128,063		Japan Tobacco, Inc		2,336
	58,323	*	JFE Holdings, Inc		408
	257,978		JGC Corp		2,676
	22,959	e	JSR Corp		546
	1,603		JTEKT Corp		13
	359,588		JX Holdings, Inc		1,283

217

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,286		Kajima Corp	$	40
	1,334	e	Kakaku.com, Inc		35
	353,700	*,e	Kamakura Shinsho Ltd		3,108
	985		Kamigumi Co Ltd		19
	179,535		Kansai Electric Power Co, Inc		1,740
	24,215	e	Kansai Paint Co Ltd		602
	61,485		Kao Corp		4,616
	1,151	e	Kawasaki Heavy Industries Ltd		16
	13,697		KDDI Corp		344
	700		Keihan Electric Railway Co Ltd		29
	1,160		Keihin Electric Express Railway Co Ltd		18
	823		Keio Corp		51
	1,413		Keisei Electric Railway Co Ltd		40
	36		Kenedix Realty Investment Corp		216
	142,100		Kenedix, Inc		748
	1,576		Keyence Corp		737
	1,195		Kikkoman Corp		66
	1,449		Kintetsu Corp		62
	7,049		Kirin Brewery Co Ltd		132
	400		Kobayashi Pharmaceutical Co Ltd		39
	500		Kobe Bussan Co Ltd		28
	1,000	*	Koito Manufacturing Co Ltd		51
	7,450		Komatsu Ltd		164
	886	e	Konami Corp		38
	328		Kose Corp		40
	8,898		Kubota Corp		159
	40,875		Kuraray Co Ltd		397
	677		Kurita Water Industries Ltd		22
	2,700		Kyocera Corp		155
	2,245		Kyowa Hakko Kogyo Co Ltd		64
	27,177		Kyushu Electric Power Co, Inc		247
	900		Kyushu Railway Co		19
	500		Lasertec Corp		41
	480		Lawson, Inc		23
	300	*	LINE Corp		15
	2,000		Lion Corp		41
	2,564		LIXIL Group Corp		52
	98,976		M3, Inc		6,122
	1,888		Makita Corp		90
	14,065		Marubeni Corp		80
	1,609	e	Marui Co Ltd		31
	6,496		Maruichi Steel Tube Ltd		163
	2,615		Mazda Motor Corp		15
	700		McDonald’s Holdings Co Japan Ltd		34
	1,859		Mediceo Paltac Holdings Co Ltd		37
	908		MEIJI Holdings Co Ltd		69
	800	*,e	Mercari, Inc		37
	3,600		Minebea Co Ltd		69
	2,800		MISUMI Group, Inc		79
	166,863		Mitsubishi Chemical Holdings Corp		963
	11,422		Mitsubishi Corp		273
	15,514		Mitsubishi Electric Corp		211
	205,696		Mitsubishi Estate Co Ltd		3,116
	21,580		Mitsubishi Gas Chemical Co, Inc		401
	2,611		Mitsubishi Heavy Industries Ltd		58
	13,011		Mitsubishi Materials Corp		256

218

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	408	e	Mitsubishi Motors Corp	$	1
	104,262		Mitsubishi UFJ Financial Group, Inc		416
	3,000		Mitsubishi UFJ Lease & Finance Co Ltd		14
	278,282		Mitsui & Co Ltd		4,782
	22,029		Mitsui Chemicals, Inc		532
	7,956		Mitsui Fudosan Co Ltd		138
	654		Mitsui Fudosan Logistics Park, Inc		3,125
	3,842		Mitsui Sumitomo Insurance Group Holdings, Inc		104
	900		Miura Co Ltd		44
	20,566		Mizuho Financial Group, Inc		257
	517,225		MonotaRO Co Ltd		25,691
	153		Mori Hills REIT Investment Corp		199
	4,905		Murata Manufacturing Co Ltd		319
	839		Nabtesco Corp		30
	1,500		Nagoya Railroad Co Ltd		41
	1,706		Namco Bandai Holdings, Inc		125
	2,061		NEC Corp		121
	4,100		Nexon Co Ltd		102
	1,824		NGK Insulators Ltd		26
	648		NGK Spark Plug Co Ltd		11
	3,834		Nidec Corp		360
	1,300		Nihon M&A Center, Inc		74
	981		Nikon Corp		7
	298,659		Nintendo Co Ltd		169,247
	13		Nippon Building Fund, Inc		74
	644		Nippon Express Co Ltd		38
	872		Nippon Meat Packers, Inc		39
	18,626		Nippon Paint Co Ltd		1,917
	1,807		Nippon ProLogis REIT, Inc		6,094
	400		Nippon Shinyaku Co Ltd		33
	91,102	*	Nippon Steel Corp		860
	584,084		Nippon Telegraph & Telephone Corp		11,925
	1,776		Nippon Yusen Kabushiki Kaisha		31
	14,139	e	Nissan Chemical Industries Ltd		754
	19,527	*	Nissan Motor Co Ltd		69
	2,031		Nisshin Seifun Group, Inc		32
	50,545		Nissin Food Products Co Ltd		4,749
	713		Nitori Co Ltd		148
	19,137		Nitto Denko Corp		1,247
	2,838		NKSJ Holdings, Inc		98
	26,880	*	Nomura Holdings, Inc		123
	574		Nomura Real Estate Holdings, Inc		11
	444		Nomura Real Estate Master Fund, Inc		556
	2,700		Nomura Research Institute Ltd		79
	362,447		NSK Ltd		2,774
	6,300		NTT Data Corp		81
	9,586		NTT DoCoMo, Inc		352
	5,096		Obayashi Corp		47
	600		Obic Co Ltd		106
	2,946		Odakyu Electric Railway Co Ltd		74
	98,094		OJI Paper Co Ltd		451
	9,968		Olympus Corp		207
	76,255		Omron Corp		5,962
	3,168		Ono Pharmaceutical Co Ltd		100
	303	*	Oracle Corp Japan		33
	20,531	e	Oriental Land Co Ltd		2,879

219

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,354,428		ORIX Corp	$	16,917
	299		Orix JREIT, Inc		460
	3,720		Osaka Gas Co Ltd		72
	4,322		Osaka Securities Exchange Co Ltd		121
	1,022		Otsuka Corp		52
	3,300		Otsuka Holdings KK		140
	331,400		Paltac Corp		16,762
	275,455		Panasonic Corp		2,346
	900		Park24 Co Ltd		15
	700	*	PeptiDream, Inc		33
	1,100		Pigeon Corp		49
	1,010		Pola Orbis Holdings, Inc		19
	7,300	*	Rakuten, Inc		79
	1,905,553		Recruit Holdings Co Ltd		75,680
	4,507,600	*	Renesas Electronics Corp		33,084
	17,242		Resona Holdings, Inc		59
	6,482	e	Ricoh Co Ltd		44
	312		Rinnai Corp		30
	65,135		Rohm Co Ltd		5,036
	1,540		Ryohin Keikaku Co Ltd		26
	3,553		Santen Pharmaceutical Co Ltd		73
	1,991	*	SBI Holdings, Inc		52
	1,767		Secom Co Ltd		162
	552		Sega Sammy Holdings, Inc		7
	1,700		Seibu Holdings, Inc		18
	3,100	e	Seiko Epson Corp		36
	3,595		Sekisui Chemical Co Ltd		58
	79,120		Sekisui House Ltd		1,402
	348,900		Seria Co Ltd		14,888
	64,286		Seven & I Holdings Co Ltd		1,997
	700	e	Seven Bank Ltd		2
	1,200		SG Holdings Co Ltd		62
	2,299	*	Sharp Corp		29
	163,498	*	SHIFT, Inc		24,520
	2,147		Shimadzu Corp		65
	227		Shimamura Co Ltd		22
	592		Shimano, Inc		117
	3,362		Shimizu Corp		25
	77,000		Shin-Etsu Chemical Co Ltd		10,076
	377	*	Shinsei Bank Ltd		5
	2,290		Shionogi & Co Ltd		123
	15,793		Shiseido Co Ltd		914
	4,201		Shizuoka Bank Ltd		29
	600		Showa Denko KK		11
	463	*	SMC Corp		258
	559,200		SMS Co Ltd		16,237
	24,500		Softbank Corp		274
	13,332		Softbank Group Corp		825
	500		Sohgo Security Services Co Ltd		24
	2,833,347		Sony Corp		217,154
	800		Square Enix Co Ltd		53
	1,314		Stanley Electric Co Ltd		38
	1,760		Star Asia Investment Corp		734
	1,100	e	Start Today Co Ltd		31
	1,051,935		Sumco Corp		14,842
	400		Sumisho Computer Systems Corp		22

220

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	188,683		Sumitomo Chemical Co Ltd	$	625
	10,165		Sumitomo Corp		123
	1,763	e	Sumitomo Dainippon Pharma Co Ltd		23
	7,547		Sumitomo Electric Industries Ltd		85
	514,625		Sumitomo Heavy Industries Ltd		11,973
	29,315		Sumitomo Metal Mining Co Ltd		909
	2,436,391		Sumitomo Mitsui Financial Group, Inc		68,123
	2,718		Sumitomo Mitsui Trust Holdings, Inc		72
	2,636		Sumitomo Realty & Development Co Ltd		78
	63		Sumitomo Rubber Industries, Inc		1
	700		Sundrug Co Ltd		26
	1,500		Suntory Beverage & Food Ltd		56
	807		Suzuken Co Ltd		31
	203,134		Suzuki Motor Corp		8,702
	1,471		Sysmex Corp		141
	546,995		T&D Holdings, Inc		5,392
	1,200		Taiheiyo Cement Corp		31
	1,493		Taisei Corp		51
	356		Taisho Pharmaceutical Holdings Co Ltd		23
	14,267	e	Taiyo Nippon Sanso Corp		219
	13,411		Takeda Pharmaceutical Co Ltd		479
	1,056		TDK Corp		115
	201,799		TechnoPro Holdings, Inc		12,635
	21,687		Teijin Ltd		336
	1,202		Temp Holdings Co Ltd		20
	5,492		Terumo Corp		219
	594		THK Co Ltd		15
	1,334		Tobu Railway Co Ltd		41
	1,175		Toho Co Ltd		48
	700		Toho Gas Co Ltd		35
	2,913		Tohoku Electric Power Co, Inc		29
	174,364		Tokio Marine Holdings, Inc		7,629
	189,425	*	Tokyo Electric Power Co, Inc		521
	1,316		Tokyo Electron Ltd		344
	97,932		Tokyo Gas Co Ltd		2,235
	134,100		Tokyo Tatemono Co Ltd		1,648
	4,029		Tokyu Corp		52
	2,400		Tokyu Fudosan Holdings Corp		10
	1,767		Toppan Printing Co Ltd		25
	169,246		Toray Industries, Inc		774
	3,255		Toshiba Corp		83
	34,021		Tosoh Corp		552
	1,442	e	Toto Ltd		66
	17,800		Toyo Seikan Kaisha Ltd		176
	699		Toyo Suisan Kaisha Ltd		37
	497		Toyoda Gosei Co Ltd		11
	1,393		Toyota Industries Corp		88
	1,639,653		Toyota Motor Corp		108,824
	2,194		Toyota Tsusho Corp		62
	1,128	*	Trend Micro, Inc		69
	300		Tsuruha Holdings, Inc		43
	3,407		Uni-Charm Corp		152
	271		United Urban Investment Corp		302
	2,230		USS Co Ltd		40
	700		Welcia Holdings Co Ltd		31
	1,307		West Japan Railway Co		65

221

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	175,800	e	Workman Co Ltd	$	15,475
	22,638		Yahoo! Japan Corp		151
	1,004		Yakult Honsha Co Ltd		56
	7,231		Yamada Denki Co Ltd		36
	1,308		Yamaha Corp		63
	2,191		Yamaha Motor Co Ltd		32
	2,555		Yamato Transport Co Ltd		67
	953		Yamazaki Baking Co Ltd		17
	2,324		Yaskawa Electric Corp		91
	2,310		Yokogawa Electric Corp		37
	200		Yokohama Rubber Co Ltd		3
			TOTAL JAPAN		1,400,745
JORDAN - 0.0%
	1,306		Hikma Pharmaceuticals plc		44
			TOTAL JORDAN		44
KOREA, REPUBLIC OF - 1.5%
	3,284	*	Alteogen, Inc		504
	6,145		Amorepacific Corp		857
	1,908		Amorepacific Corp (Preference)		94
	1,528		BGF retail Co Ltd		162
	49,061		BS Financial Group, Inc		212
	12,906	*	Celltrion Healthcare Co Ltd		968
	2,995	*	Celltrion Pharm Inc		289
	17,737	*	Celltrion, Inc		3,901
	11,744		Cheil Communications, Inc		210
	15,773		Cheil Industries, Inc		1,416
	1,552		CJ CheilJedang Corp		524
	2,858		CJ Corp		198
	1,780		CJ O Shopping Co Ltd		216
	4,804		Daelim Industrial Co		318
	11,223		Daewoo International Corp		128
	47,874		Daewoo Securities Co Ltd		346
	7,022	*	Daewoo Shipbuilding & Marine Engineering Co Ltd		142
	9,312		Dongbu Insurance Co Ltd		360
	8,384		Doosan Bobcat, Inc		194
	3,503		DuzonBIzon Co Ltd		312
	3,928		E-Mart Co Ltd		475
	8,738		Fila Korea Ltd		273
	3,494		GLOVIS Co Ltd		430
	10,580		GS Engineering & Construction Corp		218
	10,667		GS Holdings Corp		282
	5,056		GS Retail Co Ltd		145
	55,309		Hana Financial Group, Inc		1,329
	12,882		Hankook Tire Co Ltd		347
	1,206		Hanmi Pharm Co Ltd		282
	34,260		Hanon Systems		362
	18,949		Hanwha Chemical Corp		622
	7,203		Hanwha Corp		155
	8,345	*	HLB, Inc		736
	3,150		Honam Petrochemical Corp		528
	5,945		Hotel Shilla Co Ltd		385
	98,484		Hynix Semiconductor, Inc		7,060
	14,888		Hyundai Engineering & Construction Co Ltd		386
	6,638	*	Hyundai Heavy Industries		468

222

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	11,526		Hyundai Marine & Fire Insurance Co Ltd	$	220
	12,508		Hyundai Mobis		2,454
	27,776		Hyundai Motor Co		4,231
	6,454		Hyundai Motor Co Ltd (2nd Preference)		487
	3,960		Hyundai Motor Co Ltd (Preference)		286
	1,946		Hyundai Robotics Co Ltd		362
	17,277		Hyundai Steel Co		363
	44,557		Industrial Bank of Korea		304
	10,558		Kakao Corp		3,283
	21,102		Kangwon Land, Inc		388
	72,128		KB Financial Group, Inc		2,323
	46,923		Kia Motors Corp		1,882
	4,742	*	KMW Co Ltd		317
	14,582		Korea Aerospace Industries Ltd		283
	49,661	*	Korea Electric Power Corp		865
	1,566	*	Korea Express Co Ltd		237
	6,214		Korea Gas Corp		130
	6,964		Korea Investment Holdings Co Ltd		430
	3,343		Korea Kumho Petrochemical		314
	1,593		Korea Zinc Co Ltd		514
	15,255	*	Korean Air Lines Co Ltd		245
	22,050		KT&G Corp		1,557
	131,545		LG Chem Ltd		73,424
	1,437		LG Chem Ltd (Preference)		392
	17,445		LG Corp		1,108
	17,525		LG Electronics, Inc		1,373
	1,756		LG Household & Health Care Ltd		2,167
	407		LG Household & Health Care Ltd (Preference)		246
	2,514		LG Innotek Co Ltd		332
	40,327		LG Telecom Ltd		396
	46,389	*	LG.Philips LCD Co Ltd		608
	4,997		Lotte Corp		122
	2,534		Lotte Shopping Co Ltd		170
	44,264		Meritz Securities Co Ltd		123
	22,832		Naver Corp		5,802
	3,084		NCsoft		2,125
	4,018	*,g	Netmarble Corp		568
	4,235		Orion Corp/Republic of Korea		475
	210		Ottogi Corp		102
	5,818		Pacific Corp		242
	1,085	*	Pearl Abyss Corp		187
	14,002		POSCO		2,344
	4,080		POSCO Refractories & Environment Co Ltd		292
	3,078		S1 Corp (Korea)		231
	3,042	*,g	Samsung Biologics Co Ltd		1,793
	5,040		Samsung Card Co		122
	10,586		Samsung Electro-Mechanics Co Ltd		1,255
	3,081,085		Samsung Electronics Co Ltd		152,958
	154,712		Samsung Electronics Co Ltd (Preference)		6,659
	26,873	*	Samsung Engineering Co Ltd		241
	5,905		Samsung Fire & Marine Insurance Co Ltd		920
	91,728	*	Samsung Heavy Industries Co Ltd		417
	13,561		Samsung Life Insurance Co Ltd		708
	10,282		Samsung SDI Co Ltd		3,798
	6,590		Samsung SDS Co Ltd		954
	10,480		Samsung Securities Co Ltd		274

223

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,454		Seegene, Inc	$	769
	5,476	*	Shin Poong Pharmaceutical Co Ltd		590
	81,676		Shinhan Financial Group Co Ltd		1,916
	1,470		Shinsegae Co Ltd		266
	6,728		SK C&C Co Ltd		1,136
	10,602		SK Energy Co Ltd		1,256
	7,508		SK Telecom Co Ltd		1,526
	9,661		S-Oil Corp		424
	49,431	*	STX Pan Ocean Co Ltd		144
	9,100	*	Woongjin Coway Co Ltd		619
	102,938		Woori Financial Group, Inc		753
	20,185		Woori Investment & Securities Co Ltd		158
	8,699		Yuhan Corp		478
			TOTAL KOREA, REPUBLIC OF		320,272
LUXEMBOURG - 0.0%
	6,118		ArcelorMittal		81
	112	e	Eurofins Scientific		89
	28,307		Reinet Investments S.C.A		491
	1,940		SES Global S.A.		14
			TOTAL LUXEMBOURG		675
MACAU - 0.1%
	179,803		Galaxy Entertainment Group Ltd		1,216
	20,733		Sands China Ltd		80
	5,705,483	*,e	Wynn Macau Ltd		9,156
			TOTAL MACAU		10,452
MALAYSIA - 0.1%
	315,600		AMMB Holdings BHD		228
	1,214,016		Bumiputra-Commerce Holdings BHD		902
	29,700		Carlsberg Brewery-Malay BHD		148
	718,000		Dialog Group BHD		659
	578,300		Digi.Com BHD		562
	26,000		Fraser & Neave Holdings BHD		201
	336,731		Gamuda BHD		283
	378,500		Genting BHD		291
	40,900		Genting Plantations BHD		98
	118,000		HAP Seng Consolidated BHD		203
	305,100		Hartalega Holdings BHD		1,195
	114,300		Hong Leong Bank BHD		415
	32,500		Hong Leong Credit BHD		112
	397,000		IHH Healthcare BHD		498
	458,000		IOI Corp BHD		492
	110,200		Kossan Rubber Industries		364
	79,230		Kuala Lumpur Kepong BHD		434
	710,407		Malayan Banking BHD		1,236
	211,600		Malaysia Airports Holdings BHD		243
	419,100		Maxis BHD		513
	244,000		MISC BHD		442
	13,100		Nestle Malaysia BHD		446
	460,600		Petronas Chemicals Group BHD		624
	62,900		Petronas Dagangan BHD		299
	153,400		Petronas Gas BHD		608
	117,880		PPB Group BHD		540
	267,200		Press Metal BHD		331

224

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	535,900		Public Bank BHD	$	2,027
	131,500	*	QL Resources BHD		311
	604,200		Resorts World BHD		303
	298,300		RHB Capital BHD		329
	495,700		Sime Darby BHD		298
	374,300		Sime Darby Plantation BHD		456
	1,153		SP Setia BHD		0^
	281,200	*	Supermax Corp BHD		573
	220,200		Telekom Malaysia BHD		219
	430,700		Tenaga Nasional BHD		1,090
	519,443		TM International BHD		370
	843,600		Top Glove Corp BHD		1,691
	164,300		Westports Holdings BHD		154
	659,200		YTL Corp BHD		107
			TOTAL MALAYSIA		20,295
MEXICO - 0.1%
	562,500		Alfa S.A. de C.V. (Class A)		349
	6,093,600		America Movil S.A. de C.V. (Series L)		3,825
	102,600		Becle SAB de C.V.		209
	2,754,194		Cemex S.A. de C.V.		1,044
	104,300		Coca-Cola Femsa SAB de C.V.		425
	79,600		Embotelladoras Arca SAB de C.V.		345
	598,500		Fibra Uno Administracion S.A. de C.V.		473
	362,600		Fomento Economico Mexicano S.A. de C.V.		2,043
	39,640		Gruma SAB de C.V.		439
	69,200		Grupo Aeroportuario del Pacifico S.A. de C.V. (B Shares)		555
	40,210	*	Grupo Aeroportuario del Sureste S.A. de C.V. (Class B)		467
	299,100		Grupo Bimbo S.A. de C.V. (Series A)		560
	86,100		Grupo Carso S.A. de C.V. (Series A1)		177
	482,100	*	Grupo Financiero Banorte S.A. de C.V.		1,671
	425,727	*	Grupo Financiero Inbursa S.A.		332
	564,300		Grupo Mexico S.A. de C.V. (Series B)		1,436
	468,000	*	Grupo Televisa S.A.		578
	27,295		Industrias Penoles S.A. de C.V.		441
	107,800		Infraestructura Energetica ,NV SAB de C.V.		325
	276,300		Kimberly-Clark de Mexico S.A. de C.V. (Class A)		439
	58,600		Megacable Holdings SAB de C.V.		169
	199,400		Orbia Advance Corp SAB de C.V.		349
	41,490	*	Promotora y Operadora de Infraestructura SAB de C.V.		293
	933,300		Wal-Mart de Mexico SAB de C.V.		2,239
			TOTAL MEXICO		19,183
NETHERLANDS - 1.9%
	3,051	*,g	ABN AMRO Group NV (ADR)		26
	18,257	*,g	Adyen NV		33,675
	12,141		Aegon NV		31
	1,645		Akzo Nobel NV		166
	3,821	*	Altice NV (Class A)		18
	381	*	Argenx SE		101
	344,012		ASML Holding NV		127,069
	1,469		DSM NV		242
	161,119	g	Euronext NV		20,183
	1,087		EXOR NV		59
	982		Heineken Holding NV		77
	36,409		Heineken NV		3,241

225

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	15,544,753		ING Groep NV	$	110,941
	148,337	*,g	Just Eat Takeaway		16,603
	155,179		Koninklijke Ahold Delhaize NV		4,587
	937,651		Koninklijke KPN NV		2,200
	76,586		Koninklijke Philips Electronics NV		3,616
	703		Koninklijke Vopak NV		40
	2,458		NN Group NV		92
	562,454		NXP Semiconductors NV		70,200
	4,154	*	Prosus NV		383
	1,196		Randstad Holdings NV		62
	660,546		Royal Dutch Shell plc (A Shares)		8,246
	31,604		Royal Dutch Shell plc (B Shares)		383
	10,716	*,e,g	Takeaway.com Holding BV		1,200
	2,327		Wolters Kluwer NV		198
			TOTAL NETHERLANDS		403,639
NEW ZEALAND - 0.1%
	6,147	*	a2 Milk Co Ltd		63
	10,537		Auckland International Airport Ltd		51
	522,549		Fisher & Paykel Healthcare Corp		11,533
	12,530		Meridian Energy Ltd		41
	6,857		Mighty River Power Ltd		23
	2,423		Ryman Healthcare Ltd		23
	13,954		Telecom Corp of New Zealand Ltd		43
			TOTAL NEW ZEALAND		11,777
NORWAY - 0.1%
	1,328,063	e	Aker BP ASA		20,761
	8,086		DNB NOR Holding ASA		113
	355,584		Equinor ASA		5,038
	146,806		Gjensidige Forsikring BA		2,979
	3,613		Mowi ASA		64
	8,727		Norsk Hydro ASA		24
	6,173		Orkla ASA		62
	945		Schibsted ASA (B Shares)		38
	6,155		Telenor ASA		103
	1,775		Yara International ASA		68
			TOTAL NORWAY		29,250
PAKISTAN - 0.0%
	70,800		Habib Bank Ltd		56
	52,200		MCB Bank Ltd		55
	219,956		Oil & Gas Development Co Ltd		137
			TOTAL PAKISTAN		248
PERU - 0.0%
	41,400		Cia de Minas Buenaventura S.A. (ADR) (Series B)		506
	11,900		Credicorp Ltd (NY)		1,475
	15,507		Southern Copper Corp (NY)		702
			TOTAL PERU		2,683
PHILIPPINES - 0.1%
	374,260		Aboitiz Equity Ventures, Inc		358
	305,200		Aboitiz Power Corp		161
	2,960	*	Altus San Nicolas Corp		1

226

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	53,380		Ayala Corp	$	763
	1,543,570		Ayala Land, Inc		950
	356,230		Banco de Oro Universal Bank		636
	161,860		Bank of the Philippine Islands		214
	6,030		Globe Telecom, Inc		259
	18,674		GT Capital Holdings, Inc		149
	185,150		International Container Term Services, Inc		422
	513,910		JG Summit Holdings (Series B)		640
	88,420		Jollibee Foods Corp		265
	40,890		Manila Electric Co		229
	2,159,927	*	Megaworld Corp		133
	2,876,900		Metro Pacific Investments Corp		208
	360,863		Metropolitan Bank & Trust		286
	16,040		PLDT, Inc		441
	180,500		Puregold Price Club, Inc		183
	376,600		Robinsons Land Corp		111
	5,826,950		Robinsons Retail Holdings, Inc		7,823
	43,860		SM Investments Corp		800
	1,847,800		SM Prime Holdings		1,126
	161,450		Universal Robina		448
			TOTAL PHILIPPINES		16,606
POLAND - 0.0%
	32,424	*	Bank Pekao S.A.		422
	6,564	*	Bank Zachodni WBK S.A.		242
	2,530		BRE Bank S.A.		109
	11,910	*	CD Projekt Red S.A.		1,290
	51,708	*	Cyfrowy Polsat S.A.		362
	8,729	*,g	Dino Polska S.A.		513
	18,233		Grupa Lotos S.A.		163
	24,397	*	KGHM Polska Miedz S.A.		747
	244	*	LPP S.A.		415
	340,734		Polish Oil & Gas Co		446
	166,946	*	Polska Grupa Energetyczna S.A.		277
	57,186		Polski Koncern Naftowy Orlen S.A.		679
	158,495		Powszechna Kasa Oszczednosci Bank Polski S.A.		870
	113,820	*	Powszechny Zaklad Ubezpieczen S.A.		730
	119,430	*	Telekomunikacja Polska S.A.		211
			TOTAL POLAND		7,476
PORTUGAL - 0.1%
	1,271,560		Energias de Portugal S.A.		6,252
	4,977		Galp Energia SGPS S.A.		46
	844,840		Jeronimo Martins SGPS S.A.		13,586
			TOTAL PORTUGAL		19,884
QATAR - 0.1%
	388,110		Barwa Real Estate Co		374
	360,336		Commercial Bank of Qatar QSC		402
	334,939		Industries Qatar QSC		910
	676,499		Masraf Al Rayan		775
	834,166		Mesaieed Petrochemical Holding Co		476
	155,377		Ooredoo QSC		286
	99,508		Qatar Electricity & Water Co		463
	88,467		Qatar Fuel QSC		431
	148,743		Qatar International Islamic Bank QSC		343

227

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	209,881		Qatar Islamic Bank SAQ	$	952
	825,093		Qatar National Bank		4,131
			TOTAL QATAR		9,543
ROMANIA - 0.0%
	78,688		NEPI Rockcastle plc		324
			TOTAL ROMANIA		324
RUSSIA - 0.8%
	1,959		Evraz plc		9
	75,868		Gazprom (ADR)		331
	1,058,416		Gazprom OAO (ADR)		4,606
	81,297		LUKOIL PJSC (ADR)		4,667
	68,766	*	Magnit PJSC (GDR)		1,026
	120,417		MMC Norilsk Nickel PJSC (ADR)		2,908
	92,500		Mobile TeleSystems (ADR)		808
	18,073		Novatek PJSC (GDR)		2,476
	25,784		Novolipetsk Steel PJSC (GDR)		571
	29,387		PhosAgro PJSC (GDR)		354
	45,494		Polymetal International plc (ADR)		991
	11,206		Polyus PJSC (GDR)		1,181
	1,001	*	Polyus PJSC (GDR)		105
	215,327	*	Rosneft Oil Co PJSC (GDR)		1,059
	3,593,355	*	Sberbank of Russia (ADR)		41,934
	45,973		Severstal (GDR)		584
	286,730		Surgutneftegaz (ADR) (London)		1,275
	46,551		Tatneft PJSC (ADR)		1,642
	312,290	*	VTB Bank PJSC (GDR) Tradegate		260
	22,766	*	X5 Retail Group NV (GDR)		842
	1,555,241	*	Yandex NV		101,480
			TOTAL RUSSIA		169,109
SAUDI ARABIA - 0.2%
	8,156		Abdullah Al Othaim Markets Co		282
	19,222		Advanced Petrochemical Co		303
	217,095		Al Rajhi Bank		3,805
	160,882	*	Alinma Bank		702
	45,025		Almarai Co JSC		637
	106,598		Arab National Bank		579
	66,047		Bank AlBilad		426
	75,968		Bank Al-Jazira		284
	110,032		Banque Saudi Fransi		951
	10,839	*	Bupa Arabia for Cooperative Insurance Co		355
	11,195	*	Co for Cooperative Insurance		260
	112,453	*	Dar Al Arkan Real Estate Development Co		282
	71,429	*	Emaar Economic City		192
	66,889	*	Etihad Etisalat Co		510
	10,630		Jarir Marketing Co		532
	266,561		National Commercial Bank		2,648
	72,508	*	National Industrialization Co		257
	50,635	*	Rabigh Refining & Petrochemical Co		211
	249,312		Riyad Bank		1,243
	74,984		Sahara International Petrochemical Co		331
	181,442		Samba Financial Group		1,305
	6,941		Saudi Airlines Catering Co		153
	37,585		Saudi Arabian Fertilizer Co		822

228

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	79,733	*	Saudi Arabian Mining Co	$	892
	411,250	g	Saudi Arabian Oil Co		3,939
	163,221		Saudi Basic Industries Corp		3,855
	133,778		Saudi British Bank		904
	14,834		Saudi Cement Co		230
	164,097		Saudi Electricity Co		753
	44,226		Saudi Industrial Investment Group		275
	151,206	*	Saudi Kayan Petrochemical Co		472
	108,811		Saudi Telecom Co		2,918
	46,681		Savola Group		598
	45,740		Yanbu National Petrochemical Co		717
			TOTAL SAUDI ARABIA		32,623
SINGAPORE - 0.1%
	330,648		Ascendas REIT		791
	35,700	g	BOC Aviation Ltd		245
	30,085		CapitaCommercial Trust		36
	1,851,496	e	CapitaLand Ltd		3,702
	28,417	e	CapitaMall Trust		40
	5,000	e	City Developments Ltd		28
	15,322	e	DBS Group Holdings Ltd		225
	60,692		Genting Singapore Ltd		30
	66		Jardine Cycle & Carriage Ltd		1
	15,768		Keppel Corp Ltd		52
	20,600		Mapletree Commercial Trust		30
	20,600		Mapletree Logistics Trust		31
	568,112		Oversea-Chinese Banking Corp		3,533
	13,960	e	Singapore Airlines Ltd		36
	370,243	e	Singapore Exchange Ltd		2,497
	15,107		Singapore Technologies Engineering Ltd		38
	1,200		Singapore Telecommunications Ltd		2
	992,691		Singapore Telecommunications Ltd		1,554
	7,200		Suntec Real Estate Investment Trust		8
	232,643		United Overseas Bank Ltd		3,277
	5,631		UOL Group Ltd		28
	1,800		Venture Corp Ltd		25
			TOTAL SINGAPORE		16,209
SOUTH AFRICA - 0.2%
	125,663		Absa Group Ltd		666
	10,391		Anglo American Platinum Ltd		719
	10,452		Anglo American plc (London)		253
	72,423	*	Aspen Pharmacare Holdings Ltd		517
	63,868		Bid Corp Ltd		983
	54,627		Bidvest Group Ltd		449
	12,857		Capitec Bank Holdings Ltd		792
	45,391		Clicks Group Ltd		602
	70,549		Discovery Holdings Ltd		536
	44,778		Exxaro Resources Ltd		332
	839,731		FirstRand Ltd		2,061
	162,541		Gold Fields Ltd		1,988
	583,511		Growthpoint Properties Ltd		427
	101,873	*	Harmony Gold Mining Co Ltd		539
	150,167	e	Impala Platinum Holdings Ltd		1,305
	12,518		Kumba Iron Ore Ltd		370
	272,718		Life Healthcare Group Holdings Pte Ltd		277

229

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	163,841		Momentum Metropolitan Holdings	$	152
	48,652		Mr Price Group Ltd		381
	318,068	e	MTN Group Ltd		1,067
	85,252		MultiChoice Group Ltd		492
	79,753	*	Naspers Ltd (N Shares)		14,086
	69,259		Nedbank Group Ltd		414
	69,010	*	Northam Platinum Ltd		701
	151,139	g	Pepkor Holdings Ltd		101
	137,081		Rand Merchant Investment Holdings Ltd		238
	94,868		Remgro Ltd		530
	333,483		Sanlam Ltd		1,028
	106,455	*	Sasol Ltd		819
	93,425	e	Shoprite Holdings Ltd		762
	413,029		Sibanye Stillwater Ltd		1,146
	34,624		Spar Group Ltd		392
	231,337		Standard Bank Group Ltd		1,486
	31,314		Tiger Brands Ltd		357
	116,989		Vodacom Group Pty Ltd		858
	200,901		Woolworths Holdings Ltd		421
			TOTAL SOUTH AFRICA		38,247
SPAIN - 0.4%
	2,100		ACS Actividades de Construccion y Servicios S.A.		48
	575	g	Aena S.A.		80
	272,564		Amadeus IT Holding S.A.		15,137
	56,833		Banco Bilbao Vizcaya Argentaria S.A.		158
	141,668		Banco Santander S.A. (AQXE)		264
	4,511		Bankinter S.A.		19
	29,948		CaixaBank S.A.		64
	2,697	g	Cellnex Telecom SAU		164
	9,131		Corp Mapfre S.A.		14
	1,874		Enagas		43
	344,696		Endesa S.A.		9,220
	4,133		Ferrovial S.A.		100
	2,522	e	Grifols S.A.		73
	3,966,345		Iberdrola S.A.		48,820
	168,841		Industria De Diseno Textil S.A.		4,671
	108,528	*,†,e	Let’s GOWEX S.A.		1
	37,638		Naturgy Energy Group S.A.		755
	47,674		Red Electrica Corp S.A.		894
	12,689		Repsol YPF S.A.		86
	1,864		Siemens Gamesa Renewable Energy		50
	590,985		Telefonica S.A.		2,025
			TOTAL SPAIN		82,686
SWEDEN - 0.6%
	2,562		Alfa Laval AB		57
	638,656		Assa Abloy AB		14,932
	5,724		Atlas Copco AB (A Shares)		273
	3,325		Atlas Copco AB (B Shares)		139
	2,205		Autoliv, Inc		161
	2,248		Boliden AB		67
	1,659		Electrolux AB (Series B)		39
	2,831		Epiroc AB		39
	5,617		Epiroc AB (Class A)		81
	1,630		EQT AB		32

230

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	1,274,878		Ericsson (LM) (B Shares)	$	13,951
	5,175		Essity AB		175
	1,072	g	Evolution Gaming Group AB		71
	32,000	*	Fastighets AB Balder		1,621
	6,850		Hennes & Mauritz AB (B Shares)		118
	263,744		Hexagon AB (B Shares)		19,921
	3,370		Husqvarna AB (B Shares)		37
	986	e	ICA Gruppen AB		50
	1,600		Industrivarden AB		42
	498,177	e	Intrum Justitia AB		12,209
	998	e	Investment AB Latour		23
	3,882		Investor AB (B Shares)		254
	2,063	e	Kinnevik AB		84
	789		Lundbergs AB (B Shares)		39
	132,180	e	Lundin Petroleum AB		2,621
	2,596		Nibe Industrier AB		67
	457,490		Sandvik AB		8,946
	17,787	*,e	SAS AB		8
	3,149		Securitas AB (B Shares)		48
	640,321		Skandinaviska Enskilda Banken AB (Class A)		5,687
	2,763		Skanska AB (B Shares)		58
	3,168		SKF AB (B Shares)		65
	5,105		Svenska Cellulosa AB (B Shares)		70
	13,257		Svenska Handelsbanken AB		111
	7,715		Swedbank AB (A Shares)		121
	562,433		Swedish Match AB		45,988
	5,018	e	Tele2 AB (B Shares)		71
	20,910		TeliaSonera AB		85
	12,683		Volvo AB (B Shares)		244
			TOTAL SWEDEN		128,605
SWITZERLAND - 3.0%
	344,325		ABB Ltd		8,754
	1,560		Adecco S.A.		82
	237,002		Alcon, Inc		13,437
	375		Baloise Holding AG.		55
	151		Banque Cantonale Vaudoise		15
	22		Barry Callebaut AG.		49
	64,544		Cie Financiere Richemont S.A.		4,334
	2,002		Clariant AG.		40
	1,989		Coca-Cola HBC AG.		49
	6,362,224		Credit Suisse Group		63,512
	67	e	EMS-Chemie Holding AG.		60
	316		Geberit AG.		187
	3,458		Givaudan S.A.		14,931
	4,462		Holcim Ltd		203
	1,909		Julius Baer Group Ltd		81
	460		Kuehne & Nagel International AG.		89
	2		Lindt & Spruengli AG. (Registered)		178
	1,401		Logitech International S.A.		109
	270,906		Lonza Group AG.		167,186
	599,371		Nestle S.A.		71,332
	184,874		Novartis AG.		16,052
	159		Partners Group		146
	5,000		PSP Swiss Property AG.		604
	573,151		Roche Holding AG.		196,327

231

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	347		Schindler Holding AG.	$	95
	151		Schindler Holding AG. (Registered)		41
	52		SGS S.A.		139
	1,208		Sika AG.		297
	467	*	Sonova Holdings AG		118
	758,933	e	STMicroelectronics NV		23,277
	88		Straumann Holding AG.		89
	1,731		Swatch Group AG. (Registered)		78
	272		Swiss Life Holding		103
	5,764		Swiss Prime Site AG.		524
	2,511		Swiss Re Ltd		186
	220		Swisscom AG.		117
	565		Temenos Group AG.		76
	171,189		UBS Group AG		1,913
	458		Vifor Pharma AG.		62
	40,310	*	Zur Rose Group AG.		9,610
	78,454		Zurich Insurance Group AG		27,358
			TOTAL SWITZERLAND		621,895
TAIWAN - 2.1%
	95,000		Accton Technology Corp		735
	570,000		Acer, Inc		491
	70,391		Advantech Co Ltd		712
	579,000		ASE Industrial Holding Co Ltd		1,192
	410,000		Asia Cement Corp		591
	5,000		ASMedia Technology, Inc		253
	136,000		Asustek Computer, Inc		1,197
	1,424,000	*	AU Optronics Corp		555
	116,189		Catcher Technology Co Ltd		734
	1,487,412		Cathay Financial Holding Co Ltd		1,991
	230,707		Chailease Holding Co Ltd		1,057
	905,350		Chang Hwa Commercial Bank		545
	331,000		Cheng Shin Rubber Industry Co Ltd		424
	112,335		Chicony Electronics Co Ltd		328
	2,362,000		China Development Financial Holding Corp		699
	463,250		China Life Insurance Co Ltd (Taiwan)		320
	2,234,000		China Steel Corp		1,582
	3,294,000		Chinatrust Financial Holding Co		2,105
	685,000		Chunghwa Telecom Co Ltd		2,532
	816,000		Compal Electronics, Inc		540
	929,727		Dadi Early-Childhood Education Group Ltd		5,792
	354,000		Delta Electronics, Inc		2,324
	2,019,087		E.Sun Financial Holding Co Ltd		1,798
	37,000		Eclat Textile Co Ltd		463
	401,078		Eva Airways Corp		148
	424,731	*	Evergreen Marine Corp Tawain Ltd		234
	572,000		Far Eastern Textile Co Ltd		502
	290,000		Far EasTone Telecommunications Co Ltd		612
	73,040		Feng TAY Enterprise Co Ltd		441
	1,844,530		First Financial Holding Co Ltd		1,316
	674,000		Formosa Chemicals & Fibre Corp		1,587
	226,000		Formosa Petrochemical Corp		627
	727,000		Formosa Plastics Corp		1,986
	156,000		Formosa Taffeta Co Ltd		169
	167,000		Foxconn Technology Co Ltd		299
	1,252,000		Fubon Financial Holding Co Ltd		1,822

232

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES		COMPANY	VALUE (000)
	1,809,600	Fuhwa Financial Holdings Co Ltd	$	1,120
	56,000	Giant Manufacturing Co Ltd		531
	42,000	Globalwafers Co Ltd		562
	140,800	Highwealth Construction Corp		210
	42,107	Hiwin Technologies Corp		418
	2,349,000	Hon Hai Precision Industry Co, Ltd		6,315
	1,934,278	Hota Industrial Manufacturing Co Ltd		6,390
	54,000	Hotai Motor Co Ltd		1,209
	1,482,281	Hua Nan Financial Holdings Co Ltd		909
	1,510,000	InnoLux Display Corp		493
	475,000	Inventec Co Ltd		370
	18,604	Largan Precision Co Ltd		2,179
	398,000	Lite-On Technology Corp		637
	279,242	MediaTek, Inc		5,917
	1,946,000	Mega Financial Holding Co Ltd		1,878
	126,000	Micro-Star International Co Ltd		582
	973,000	Nan Ya Plastics Corp		2,011
	197,000	Nanya Technology Corp		396
	30,000	Nien Made Enterprise Co Ltd		358
	107,000	Novatek Microelectronics Corp Ltd		987
	343,000	Pegatron Technology Corp		762
	27,000	Phison Electronics Corp		249
	415,000	Pou Chen Corp		377
	127,000	Powertech Technology, Inc		382
	102,000	President Chain Store Corp		928
	540,000	Quanta Computer, Inc		1,418
	89,000	Realtek Semiconductor Corp		1,141
	155,100	Ruentex Development Co Ltd		209
	631,999	Shanghai Commercial & Savings Bank Ltd		853
	1,957,622	Shin Kong Financial Holding Co Ltd		547
	1,905,300	SinoPac Financial Holdings Co Ltd		718
	75,000	Standard Foods Corp		158
	251,000	Synnex Technology International Corp		360
	1,829,089	Taishin Financial Holdings Co Ltd		814
	970,417	Taiwan Business Bank		322
	911,192	Taiwan Cement Corp		1,311
	1,686,945	Taiwan Cooperative Financial Holding		1,142
	351,000	Taiwan High Speed Rail Corp		385
	298,000	Taiwan Mobile Co Ltd		996
	21,703,500	Taiwan Semiconductor Manufacturing Co Ltd		326,509
	130,000	Taiwan Semiconductor Manufacturing Co Ltd (ADR)		10,539
	872,000	Uni-President Enterprises Corp		1,889
	2,191,000	United Microelectronics Corp		2,161
	170,000	Vanguard International Semiconductor Corp		569
	45,000	Walsin Technology Corp		242
	65,000	Win Semiconductors Corp		648
	505,000	Winbond Electronics Corp		246
	483,690	Wistron Corp		502
	15,000	Wiwynn Corp		341
	289,640	WPG Holdings Co Ltd		391
	60,339	Yageo Corp		741
	97,000	Zhen Ding Technology Holding Ltd		426
		TOTAL TAIWAN		430,451
TANZANIA, UNITED REPUBLIC OF - 0.0%
	74,326	AngloGold Ashanti Ltd		1,944
		TOTAL TANZANIA, UNITED REPUBLIC OF		1,944

233

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
THAILAND - 0.1%
	209,500		Advanced Info Service PCL (Foreign)	$	1,135
	817,300		Airports of Thailand PCL (Foreign)		1,464
	1,216,900		Asset World Corp PCL		135
	157,100		B Grimm Power PCL		210
	104,700		Bangkok Bank PCL (Foreign)		319
	356,100		Bangkok Commercial Asset Management PCL		225
	1,770,900		Bangkok Dusit Medical Services PCL (Foreign)		1,095
	1,335,800		Bangkok Expressway & Metro PCL		363
	219,100		Berli Jucker PCL		255
	1,335,390		BTS Group Holdings PCL		400
	78,500		Bumrungrad Hospital PCL (Foreign)		237
	417,300		Central Pattana PCL (Foreign)		563
	337,175		Central Retail Corp PCL		278
	711,300		Charoen Pokphand Foods PCL		630
	1,030,200		CP Seven Eleven PCL (Foreign)		1,965
	53,100		Electricity Generating PCL		315
	284,900		Energy Absolute PCL (Foreign)		355
	137,900		Global Power Synergy Co Ltd (Foreign)		251
	429,930		Gulf Energy Development PCL		415
	1,067,500		Home Product Center PCL (Foreign)		487
	328,400		Indorama Ventures PCL (Foreign)		220
	422,000		Intouch Holdings PCL (Class F)		689
	2,186,800		IRPC PCL (Foreign)		133
	325,600		Kasikornbank PCL (Foreign)		793
	598,300		Krung Thai Bank PCL (Foreign)		168
	141,600		Krungthai Card PCL		157
	1,468,000		Land and Houses PCL Co Reg		316
	583,900		Minor International PCL (Foreign)		369
	134,600		Muangthai Capital PCL		211
	138,600		Osotspa PCL		154
	297,500		PTT Exploration & Production PCL (Foreign)		744
	384,400		PTT Global Chemical PCL (Foreign)		480
	2,029,300		PTT PCL (Foreign)		2,088
	148,300		Ratch Group PCL		236
	146,000		Siam Cement PCL (Foreign)		1,487
	157,600		Siam Commercial Bank PCL (Foreign)		325
	136,600		Srisawad Corp PCL		212
	245,400		Thai Oil PCL (Foreign)		249
	599,400		Thai Union Group PCL		266
	4,835,384		TMB Bank PCL (Foreign)		137
	122,900		Total Access Communication PCL (Foreign)		126
	2,248,300		True Corp PCL (Foreign)		221
			TOTAL THAILAND		20,878
TURKEY - 0.0%
	551,907	*	Akbank TAS		364
	37,623		Anadolu Efes Biracilik Ve Malt Sanayii AS		100
	125,082		Aselsan Elektronik Sanayi Ve Ticaret AS		313
	79,417		BIM Birlesik Magazalar AS		712
	264,121		Eregli Demir ve Celik Fabrikalari TAS		324
	12,638		Ford Otomotiv Sanayi AS		143
	174,450		Haci Omer Sabanci Holding AS		187
	143,217		KOC Holding AS		271

234

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	27,026	*	Tupras Turkiye Petrol Rafine	$	277
	80,025	*	Turk Hava Yollari		108
	256,045	*	Turk Sise ve Cam Fabrikalari AS		243
	210,733		Turkcell Iletisim Hizmet AS		411
	392,260	*	Turkiye Garanti Bankasi AS		359
	300,880	*	Turkiye Is Bankasi (Series C)		208
	551,174	*	Yapi ve Kredi Bankasi		152
			TOTAL TURKEY		4,172
UNITED ARAB EMIRATES - 0.0%
	531,400		Abu Dhabi Commercial Bank PJSC		820
	686,451		Aldar Properties PJSC		379
	325,077		Dubai Islamic Bank PJSC		383
	499,758	*	Emaar Malls Group PJSC		205
	627,507	*	Emaar Properties PJSC		482
	474,728		Emirates NBD Bank PJSC		1,387
	321,032		Emirates Telecommunications Group Co PJSC		1,459
	504,658		National Bank of Abu Dhabi PJSC		1,557
	5,358	*,†	NMC Health plc		0^
			TOTAL UNITED ARAB EMIRATES		6,672
UNITED KINGDOM - 4.1%
	8,292		3i Group plc		107
	1,520		Admiral Group plc		51
	1,434,367		Ashtead Group plc		51,654
	409,557		Associated British Foods plc		9,860
	1,026,455		AstraZeneca plc		112,155
	9,717	g	Auto Trader Group plc		71
	432		Aveva Group plc		27
	33,490		Aviva plc		124
	27,412		BAE Systems plc		170
	1,292,477		Barclays plc		1,631
	8,012		Barratt Developments plc		49
	1,095,538		Beazley plc		4,337
	1,015		Berkeley Group Holdings plc		55
	65,000		Big Yellow Group plc		871
	3,306,739	*	boohoo.com plc		15,964
	1,207,918		BP plc		3,493
	173,647		BP plc (ADR)		3,032
	389,472		British American Tobacco plc		13,971
	156,771		British Land Co plc		684
	75,803		BT Group plc		96
	2,870		Bunzl plc		93
	3,400		Burberry Group plc		68
	23,043		CK Hutchison Holdings Ltd		140
	8,566		CNH Industrial NV		66
	56,712		Coca-Cola European Partners plc (Class A)		2,201
	179,495		Compass Group plc		2,696
	1,099		Croda International plc		89
	987		DCC plc		76
	430,250		Dechra Pharmaceuticals plc		17,890
	20,000		Derwent London plc		662
	457,525		Diageo plc		15,715
	9,834		Direct Line Insurance Group plc		34
	2,641,483		Electrocomponents plc		24,212
	7,742		Experian Group Ltd		291

235

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	562,363		Fevertree Drinks plc	$	16,806
	9,360		Fiat DaimlerChrysler Automobiles NV		115
	413,399		GlaxoSmithKline plc		7,750
	100,000		Great Portland Estates plc		772
	4,775		GVC Holdings plc		60
	3,235		Halma plc		98
	2,670		Hargreaves Lansdown plc		54
	173,592		HSBC Holdings plc		679
	8,071		Imperial Tobacco Group plc		143
	187,662		Informa plc		910
	1,480		InterContinental Hotels Group plc		78
	1,376		Intertek Group plc		112
	13,835		J Sainsbury plc		34
	4,403		JD Sports Fashion plc		46
	1,622		Johnson Matthey plc		49
	21,154		Kingfisher plc		81
	115,099	e	Land Securities Group plc		775
	50,865		Legal & General Group plc		124
	197,110	*	Liberty Global plc (Class A)		4,141
	9,272	*	Liberty Global plc (Class C)		190
	164,389		Linde plc		39,146
	615,733		Linde plc (Xetra)		145,578
	140,043,966		Lloyds TSB Group plc		47,542
	241,412		London Stock Exchange Group plc		27,694
	2,931,749		M&G plc		6,026
	3,745,647		Man Group plc		5,553
	3,100,000		Marks & Spencer Group plc		3,890
	35,840		Melrose Industries plc		53
	31,035		Mondi plc		656
	29,917		National Grid plc		344
	19,869		Next plc		1,523
	3,896	*	Ocado Ltd		138
	835,648		Old Mutual Ltd		515
	5,676	e	Pearson plc		40
	2,719		Persimmon plc		87
	1,261,348		Prudential plc		18,098
	87,984		Reckitt Benckiser Group plc		8,579
	438,995		RELX plc		9,773
	157,398		RELX plc (London)		3,503
	15,818		Rentokil Initial plc		109
	1,752,086	e	Rolls-Royce Group plc		2,909
	38,858		Royal Bank of Scotland Group plc		53
	8,094		RSA Insurance Group plc		47
	80,000		Safestore Holdings plc		804
	9,295		Sage Group plc		86
	1,247		Schroders plc		43
	128,861		Scottish & Southern Energy plc		2,006
	140,145		Segro plc		1,684
	1,959		Severn Trent plc		62
	7,454		Smith & Nephew plc		146
	3,971		Smiths Group plc		70
	628		Spirax-Sarco Engineering plc		90
	5,382		St. James’s Place plc		65
	22,848		Standard Chartered plc		105
	22,923		Standard Life Aberdeen plc		67
	24,640		Taylor Wimpey plc		35

236

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	26,220,194		Tesco plc	$	71,930
	12,667,981	*	THG Holdings Ltd		97,783
	5,028,907		Tritax Big Box REIT plc		10,043
	329,212		Unilever NV		19,992
	248,086		Unilever plc		15,295
	5,641		United Utilities Group plc		62
	5,862,410		Vodafone Group plc		7,770
	1,544		Whitbread plc		42
	18,190		WM Morrison Supermarkets plc		40
	157,280		WPP plc		1,235
			TOTAL UNITED KINGDOM		866,963
UNITED STATES - 55.6%
	37,010		3M Co		5,928
	3,399		A.O. Smith Corp		179
	1,653,514		Abbott Laboratories		179,952
	1,568,433		AbbVie, Inc		137,379
	8,106	*	Abiomed, Inc		2,246
	90,109		Accenture plc		20,364
	546,795		Activision Blizzard, Inc		44,263
	49,586	*	Adobe, Inc		24,318
	1,600		Advance Auto Parts, Inc		246
	2,057,283	*	Advanced Micro Devices, Inc		168,677
	15,561		AES Corp		282
	16,415		Aflac, Inc		597
	23,484		Agilent Technologies, Inc		2,370
	13,605		AGNC Investment Corp		189
	15,000		Agree Realty Corp		955
	26,802		Air Products & Chemicals, Inc		7,983
	3,921	*	Akamai Technologies, Inc		433
	61,535		Albemarle Corp		5,494
	28,550		Alexandria Real Estate Equities, Inc		4,568
	5,334	*	Alexion Pharmaceuticals, Inc		610
	16,808	*	Align Technology, Inc		5,502
	8,507		Alleghany Corp		4,427
	441,287	*	Allegheny Technologies, Inc		3,848
	35,421		Allegion plc		3,504
	26,436		Alliant Energy Corp		1,365
	142,918		Allstate Corp		13,454
	9,433		Ally Financial, Inc		236
	25,515	*	Alnylam Pharmaceuticals, Inc		3,715
	64,485	*	Alphabet, Inc (Class A)		94,509
	151,239	*	Alphabet, Inc (Class C)		222,261
	23,128	*	Altice USA, Inc		601
	216,608		Altria Group, Inc		8,370
	171,990	*	Amazon.com, Inc		541,550
	38,052		Amcor plc		420
	236		Amerco, Inc		84
	5,966		Ameren Corp		472
	148,676		American Electric Power Co, Inc		12,151
	798,787		American Express Co		80,078
	2,142		American Financial Group, Inc		143
	66,000		American Homes 4 Rent		1,880
	270,723		American International Group, Inc		7,453
	120,430		American Tower Corp		29,112
	4,377		American Water Works Co, Inc		634

237

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	65,000		Americold Realty Trust	$	2,324
	2,954		Ameriprise Financial, Inc		455
	3,693		AmerisourceBergen Corp		358
	5,543		Ametek, Inc		551
	100,826		Amgen, Inc		25,626
	7,152		Amphenol Corp (Class A)		774
	35,848		Analog Devices, Inc		4,185
	36,037		Annaly Capital Management, Inc		257
	2,069	*	Ansys, Inc		677
	28,833		Anthem, Inc		7,744
	23,873		Aon plc		4,925
	4,145		Apollo Global Management, Inc		185
	6,033,998	d,n	Apple, Inc		698,797
	259,982		Applied Materials, Inc		15,456
	247,160		Aptiv plc		22,660
	5,959		ARAMARK Holdings Corp		158
	9,787	*	Arch Capital Group Ltd		286
	13,418		Archer-Daniels-Midland Co		624
	202	*	Arconic Corp		4
	1,401	*	Arista Networks, Inc		290
	1,814	*	Arrow Electronics, Inc		143
	4,586		Arthur J. Gallagher & Co		484
	1,361		Assurant, Inc		165
	1,088,547		AT&T, Inc		31,034
	160,556	*	Athene Holding Ltd		5,472
	3,017		Atmos Energy Corp		288
	21,215	*	Autodesk, Inc		4,901
	10,385		Automatic Data Processing, Inc		1,449
	1,576	*	AutoZone, Inc		1,856
	1,928	*	Avalara, Inc		246
	40,690		AvalonBay Communities, Inc		6,077
	583,019	*	Avantor, Inc		13,112
	2,013		Avery Dennison Corp		257
	963,752	*	Axalta Coating Systems Ltd		21,366
	50,186		Axis Capital Holdings Ltd		2,210
	17,222		Baker Hughes Co		229
	7,879		Ball Corp		655
	1,416,899		Bank of America Corp		34,133
	280,060		Bank of New York Mellon Corp		9,617
	2,422	*	Bausch Health Cos, Inc		38
	168,531		Baxter International, Inc		13,553
	37,003		Becton Dickinson & Co		8,610
	246,980	*	Berkshire Hathaway, Inc (Class B)		52,592
	436,963	*	Berry Global Group, Inc		21,114
	19,946		Best Buy Co, Inc		2,220
	9,399	*	Biogen, Inc		2,666
	95,387	*	BioMarin Pharmaceutical, Inc		7,257
	5,520	*	Bio-Rad Laboratories, Inc (Class A)		2,845
	3,665	*	Black Knight, Inc		319
	15,970		BlackRock, Inc		9,000
	71,021		Blackstone Group, Inc		3,707
	397,814		Boeing Co		65,743
	16,842	*	Booking Holdings, Inc		28,811
	3,397		Booz Allen Hamilton Holding Co		282
	4,947		BorgWarner, Inc		192
	33,113		Boston Properties, Inc		2,659

238

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,193,520	*	Boston Scientific Corp	$	83,814
	543,964		Bristol-Myers Squibb Co		32,796
	328,162		Broadcom, Inc		119,556
	2,778		Broadridge Financial Solutions, Inc		367
	5,979		Brown & Brown, Inc		271
	7,469		Brown-Forman Corp (Class B)		563
	3,345		Bunge Ltd		153
	25,569	*	Burlington Stores, Inc		5,270
	114		Cable One, Inc		215
	9,595		Cabot Oil & Gas Corp		167
	6,746	*	Cadence Design Systems, Inc		719
	2,336		Camden Property Trust		208
	4,610		Campbell Soup Co		223
	10,990		Capital One Financial Corp		790
	375,719	*	Capri Holdings Ltd		6,763
	7,103		Cardinal Health, Inc		333
	3,335		Carlyle Group, Inc		82
	3,795	*	CarMax, Inc		349
	52,334	e	Carnival Corp		794
	453,826		Carrier Global Corp		13,860
	23,782	*	Catalent, Inc		2,037
	424,240		Caterpillar, Inc		63,275
	2,555		CBOE Global Markets, Inc		224
	66,138	*	CBRE Group, Inc		3,107
	2,850		CDK Global, Inc		124
	197,440		CDW Corp		23,600
	2,854		Celanese Corp (Series A)		307
	270,668	*	Centene Corp		15,788
	1,751,841		Centerpoint Energy, Inc		33,898
	22,153		CenturyLink, Inc		224
	44,455		Cerner Corp		3,214
	22,944		CF Industries Holdings, Inc		705
	3,270		CH Robinson Worldwide, Inc		334
	273,726		Charles Schwab Corp		9,917
	21,167	*	Charter Communications, Inc		13,215
	30,442	*	Cheniere Energy, Inc		1,409
	273,336		Chevron Corp		19,680
	8,610	*	Chipotle Mexican Grill, Inc (Class A)		10,708
	206,292		Chubb Ltd		23,955
	5,940		Church & Dwight Co, Inc		557
	231,158		Cigna Corp		39,160
	3,722		Cincinnati Financial Corp		290
	2,137		Cintas Corp		711
	803,944		Cisco Systems, Inc		31,667
	2,513,905		Citigroup, Inc		108,374
	505,636		Citizens Financial Group, Inc		12,782
	2,833		Citrix Systems, Inc		390
	17,330		Clorox Co		3,642
	67,751		CME Group, Inc		11,335
	6,924		CMS Energy Corp		425
	3,261,639		Coca-Cola Co		161,027
	4,264		Cognex Corp		278
	13,062		Cognizant Technology Solutions Corp (Class A)		907
	377,730	*	Coherus Biosciences, Inc		6,928
	309,979		Colgate-Palmolive Co		23,915
	1,690,268		Comcast Corp (Class A)		78,192

239

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,674		Comerica, Inc	$	141
	1,125,000	*	CommScope Holding Co, Inc		10,125
	148,899		ConAgra Brands, Inc		5,317
	5,005		Concho Resources, Inc		221
	564,603		ConocoPhillips		18,542
	8,071		Consolidated Edison, Inc		628
	22,257		Constellation Brands, Inc (Class A)		4,218
	1,288		Cooper Cos, Inc		434
	5,106	*	Copart, Inc		537
	18,391		Corning, Inc		596
	130,434		Corteva, Inc		3,758
	952	*	CoStar Group, Inc		808
	400,454		Costco Wholesale Corp		142,161
	6,548		Coty, Inc		18
	1,610	*	Coupa Software, Inc		442
	3,447	*	Crowdstrike Holdings, Inc		473
	85,094		Crown Castle International Corp		14,168
	704,806	*	Crown Holdings, Inc		54,171
	389,985		CSX Corp		30,290
	3,566		Cummins, Inc		753
	253,597		CVS Health Corp		14,810
	222	*	CyberArk Software Ltd		23
	20,500		CyrusOne, Inc		1,436
	241,697		Danaher Corp		52,045
	3,027		Darden Restaurants, Inc		305
	3,242	*	Datadog, Inc		331
	1,867	*	DaVita, Inc		160
	92,273		Deere & Co		20,450
	5,824	*	Dell Technologies, Inc		394
	91,538		Delta Air Lines, Inc		2,799
	5,107		Dentsply Sirona, Inc		223
	20,425	*	DexCom, Inc		8,420
	11,216		Diamondback Energy, Inc		338
	26,984		Digital Realty Trust, Inc		3,960
	421,028		Discover Financial Services		24,327
	3,699	*,e	Discovery, Inc (Class A)		81
	7,823	*	Discovery, Inc (Class C)		153
	29,714	*	DISH Network Corp (Class A)		863
	4,204	*	DocuSign, Inc		905
	25,614		Dollar General Corp		5,369
	39,729	*	Dollar Tree, Inc		3,629
	261,289		Dominion Energy, Inc		20,624
	945		Domino’s Pizza, Inc		402
	37,944		Dover Corp		4,111
	1,531,556	n	Dow, Inc		72,060
	8,350		DR Horton, Inc		632
	5,734	*	Dropbox, Inc		110
	4,656		DTE Energy Co		536
	103,545		Duke Energy Corp		9,170
	34,966		Duke Realty Corp		1,290
	1,475,384	n	DuPont de Nemours, Inc		81,854
	4,152	*	Dynatrace, Inc		170
	5,310		E*TRADE Financial Corp		266
	3,147		East West Bancorp, Inc		103
	3,328		Eastman Chemical Co		260
	256,180		Eaton Corp		26,138

240

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	107,816		eBay, Inc	$	5,617
	6,162		Ecolab, Inc		1,231
	50,491		Edison International		2,567
	924,012	*	Edwards Lifesciences Corp		73,755
	9,367	*	Elanco Animal Health, Inc		262
	6,975	*	Electronic Arts, Inc		910
	225,817		Eli Lilly & Co		33,425
	25,000	*	Emergent Biosolutions, Inc		2,583
	14,433		Emerson Electric Co		946
	230,076		Entergy Corp		22,669
	671,909	*	Envista Holdings Corp		16,583
	102,518		EOG Resources, Inc		3,685
	1,345	*	EPAM Systems, Inc		435
	2,933		Equifax, Inc		460
	45,386		Equinix, Inc		34,499
	795,041		Equitable Holdings, Inc		14,502
	64,242		Equity Lifestyle Properties, Inc		3,938
	49,979		Equity Residential		2,565
	571		Erie Indemnity Co (Class A)		120
	5,850		Essential Utilities Inc		235
	6,577		Essex Property Trust, Inc		1,321
	139,388		Estee Lauder Cos (Class A)		30,421
	963		Everest Re Group Ltd		190
	5,293		Evergy, Inc		269
	8,130		Eversource Energy		679
	126,659	*	Exact Sciences Corp		12,913
	134,027		Exelon Corp		4,793
	41,309		Expedia Group, Inc		3,788
	4,024		Expeditors International of Washington, Inc		364
	18,138		Extra Space Storage, Inc		1,941
	481,053		Exxon Mobil Corp		16,515
	1,436	*	F5 Networks, Inc		176
	906,461	*	Facebook, Inc		237,402
	928		Factset Research Systems, Inc		311
	676	*	Fair Isaac Corp		288
	13,845		Fastenal Co		624
	1,842		Federal Realty Investment Trust		135
	5,997		FedEx Corp		1,508
	1,915		Ferguson plc		193
	6,635		Fidelity National Financial Inc		208
	116,720		Fidelity National Information Services, Inc		17,182
	295,810		Fifth Third Bancorp		6,307
	4,144		First Republic Bank		452
	246,368		FirstEnergy Corp		7,073
	13,751	*	Fiserv, Inc		1,417
	2,025	*	FleetCor Technologies, Inc		482
	3,242		FLIR Systems, Inc		116
	3,148		FMC Corp		333
	94,399		Ford Motor Co		629
	3,319	*	Fortinet, Inc		391
	141,498		Fortive Corp		10,784
	3,316		Fortune Brands Home & Security, Inc		287
	7,847		Fox Corp (Class A)		218
	4,103		Fox Corp (Class B)		115
	7,090		Franklin Resources, Inc		144
	5,235,387		Freeport-McMoRan, Inc (Class B)		81,881

241

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	45,562		Gaming and Leisure Properties, Inc	$	1,683
	3,484		Garmin Ltd		331
	2,152	*	Gartner, Inc		269
	5,882		General Dynamics Corp		814
	211,305		General Electric Co		1,316
	51,188		General Mills, Inc		3,157
	18,106,794	*,†,e	General Motors Co		0
	13,592,224	*,†	General Motors Co		0
	31,123		General Motors Co		921
	26,439,985	*,†	General Motors Co		0
	19,417,463	*,†	General Motors Co		0
	4,461,000	*,†	General Motors Co		0
	18,159,000	*,†	General Motors Co		0
	61,921,000	*,†,e	General Motors Co		0
	530,757	*,†	General Motors Co		0
	69,850,000	*,†	General Motors Co		0
	29,845,445	*,†	General Motors Co		0
	3,507		Genuine Parts Co		334
	108,809		Gilead Sciences, Inc		6,876
	50,837		Global Payments, Inc		9,028
	2,345		Globe Life, Inc		187
	3,875	*	GoDaddy, Inc		294
	243,438		Goldman Sachs Group, Inc		48,924
	36,000	*	Guardant Health, Inc		4,024
	1,978	*	Guidewire Software, Inc		206
	289,730		Halliburton Co		3,491
	162,878		Hartford Financial Services Group, Inc		6,004
	3,081		Hasbro, Inc		255
	50,067		HCA Healthcare, Inc		6,242
	3,896	*	HD Supply Holdings, Inc		161
	26,000		Healthcare Trust of America, Inc		676
	90,992		Healthpeak Properties Inc		2,470
	1,161		HEICO Corp		122
	1,698		HEICO Corp (Class A)		151
	3,235	*	Henry Schein, Inc		190
	3,562		Hershey Co		511
	6,404		Hess Corp		262
	30,129		Hewlett Packard Enterprise Co		282
	90,280		Hexcel Corp		3,029
	6,696		Hilton Worldwide Holdings, Inc		571
	222,724	*	Hologic, Inc		14,804
	705,426		Home Depot, Inc		195,904
	780,340		Honeywell International, Inc		128,452
	187,754	*	Horizon Therapeutics Plc		14,585
	7,165		Hormel Foods Corp		350
	97,746		Host Hotels and Resorts, Inc		1,055
	10,275		Howmet Aerospace, Inc		172
	34,552		HP, Inc		656
	84,041		Hubbell, Inc		11,500
	15,288	*	HubSpot, Inc		4,468
	8,792		Humana, Inc		3,639
	25,628		Huntington Bancshares, Inc		235
	1,056		Huntington Ingalls		149
	40,788	*	IAC		4,886
	1,834		IDEX Corp		335
	16,078	*	IDEXX Laboratories, Inc		6,320

242

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	24,542		IHS Markit Ltd	$	1,927
	7,638		Illinois Tool Works, Inc		1,476
	67,955	*	Illumina, Inc		21,004
	4,463	*	Incyte Corp		401
	565,102	*	Ingersoll Rand, Inc		20,118
	1,586		Ingredion, Inc		120
	1,586	*	Insulet Corp		375
	2,171,859		Intel Corp		112,459
	44,875		Intercontinental Exchange Group, Inc		4,490
	21,459		International Business Machines Corp		2,611
	2,032		International Flavors & Fragrances, Inc		249
	106		International Flavors & Fragrances, Inc (Tel Aviv)		13
	25,943		International Paper Co		1,052
	116,335		Interpublic Group of Cos, Inc		1,939
	60,981		Intuit, Inc		19,893
	18,078	*	Intuitive Surgical, Inc		12,827
	10,190		Invesco Ltd		116
	112,680		Invitation Homes, Inc		3,154
	3,121	*	Ionis Pharmaceuticals, Inc		148
	887	*	IPG Photonics Corp		151
	34,260	*	IQVIA Holdings, Inc		5,400
	7,354		Iron Mountain, Inc		197
	117,669	e	iShares MSCI Canada Index Fund		3,225
	27,426		iShares MSCI South Korea Index Fund		1,792
	80,000	e	iShares Russell 2000 Index Fund		11,983
	148,932		ITT, Inc		8,794
	2,790		J.M. Smucker Co		322
	1,879		Jack Henry & Associates, Inc		306
	3,057		Jacobs Engineering Group, Inc		284
	3,776		James Hardie Industries NV		91
	213,747	*	Jazz Pharmaceuticals plc		30,478
	2,090		JB Hunt Transport Services, Inc		264
	640,113		Johnson & Johnson		95,300
	17,967		Johnson Controls International plc		734
	1,238		Jones Lang LaSalle, Inc		118
	2,391,274		JPMorgan Chase & Co		230,208
	7,927		Juniper Networks, Inc		170
	83,004		Kansas City Southern		15,010
	6,214		Kellogg Co		401
	1,560,309		Keurig Dr Pepper, Inc		43,065
	24,051		Keycorp		287
	4,506	*	Keysight Technologies, Inc		445
	10,000		Kilroy Realty Corp		520
	52,126		Kimberly-Clark Corp		7,697
	49,187		Kinder Morgan, Inc		606
	12,154		KKR & Co, Inc		417
	3,747		KLA Corp		726
	2,901		Knight-Swift Transportation Holdings, Inc		118
	16,237		Kraft Heinz Co		486
	133,265		Kroger Co		4,519
	431,618		L3Harris Technologies, Inc		73,306
	11,658	*	Laboratory Corp of America Holdings		2,195
	32,216		Lam Research Corp		10,688
	3,415		Lamb Weston Holdings, Inc		226
	1,033,519		Las Vegas Sands Corp		48,224
	1,407		Lear Corp		153

243

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	3,259		Leidos Holdings, Inc	$	291
	6,635		Lennar Corp (Class A)		542
	820		Lennox International, Inc		224
	621	*	Liberty Broadband Corp (Class A)		88
	2,586	*	Liberty Broadband Corp (Class C)		369
	4,820	*	Liberty Media Group (Class C)		175
	2,432	*	Liberty SiriusXM Group (Class A)		81
	4,140	*	Liberty SiriusXM Group (Class C)		137
	5,173		Lincoln National Corp		162
	3,686	*	Live Nation, Inc		199
	6,831	*	LKQ Corp		189
	6,095		Lockheed Martin Corp		2,336
	6,448		Loews Corp		224
	295,757		Lowe’s Companies, Inc		49,054
	143,042	*	Lululemon Athletica, Inc		47,114
	6,447		LyondellBasell Industries NV		454
	3,154		M&T Bank Corp		290
	15,703		Marathon Petroleum Corp		461
	333	*	Markel Corp		324
	916		MarketAxess Holdings, Inc		441
	171,655		Marriott International, Inc (Class A)		15,892
	206,907		Marsh & McLennan Cos, Inc		23,732
	1,448		Martin Marietta Materials, Inc		341
	16,077		Marvell Technology Group Ltd		638
	6,153		Masco Corp		339
	15,269	*	Masimo Corp		3,604
	273,508		Mastercard, Inc (Class A)		92,492
	490,381	*	Match Group, Inc		54,261
	6,443		Maxim Integrated Products, Inc		436
	2,988		McCormick & Co, Inc		580
	745,932		McDonald’s Corp		163,725
	32,557		McKesson Corp		4,849
	12,923		Medical Properties Trust, Inc		228
	161,148		Medtronic plc		16,747
	833,692		Merck & Co, Inc		69,155
	41,417		Metlife, Inc		1,539
	578	*	Mettler-Toledo International, Inc		558
	855,656		MGM Growth Properties LLC		23,941
	11,675		MGM Resorts International		254
	5,927		Microchip Technology, Inc		609
	635,487	*	Micron Technology, Inc		29,842
	3,154,876		Microsoft Corp		663,565
	14,658		Mid-America Apartment Communities, Inc		1,700
	6,577	*	Moderna, Inc		465
	1,444	*	Mohawk Industries, Inc		141
	1,409	*	Molina Healthcare, Inc		258
	4,777		Molson Coors Brewing Co (Class B)		160
	732,219		Mondelez International, Inc		42,066
	1,182	*	MongoDB, Inc		274
	1,060,640	*	Monster Beverage Corp		85,063
	4,079		Moody’s Corp		1,182
	3,002,404		Morgan Stanley		145,166
	8,804		Mosaic Co		161
	4,110		Motorola Solutions, Inc		645
	2,055		MSCI, Inc (Class A)		733
	12,997	*	Mylan NV		193

244

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	2,787		Nasdaq Inc	$	342
	9,817		National Oilwell Varco, Inc		89
	4,398		National Retail Properties, Inc		152
	5,145		NetApp, Inc		226
	88,988	*	Netflix, Inc		44,497
	2,115	*	Neurocrine Biosciences, Inc		203
	20,000	*	Nevro Corp		2,786
	9,764		Newell Brands Inc		168
	438,517		Newmont Goldcorp Corp		27,824
	8,882		News Corp (Class A)		125
	167,732		NextEra Energy, Inc		46,556
	9,625		Nielsen NV		136
	1,317,194		Nike, Inc (Class B)		165,361
	9,127		NiSource, Inc		201
	1,294		Nordson Corp		248
	6,185		Norfolk Southern Corp		1,324
	4,606		Northern Trust Corp		359
	62,242		Northrop Grumman Corp		19,637
	13,791		NortonLifelock, Inc		287
	34,950		NRG Energy, Inc		1,074
	7,007		Nucor Corp		314
	92,541		NVIDIA Corp		50,085
	1,052	*	NVR, Inc		4,295
	23,730		Occidental Petroleum Corp		238
	4,697		OGE Energy Corp		141
	2,806	*	Okta, Inc		600
	2,276		Old Dominion Freight Line		412
	5,505		Omega Healthcare Investors, Inc		165
	5,150		Omnicom Group, Inc		255
	9,413	*	ON Semiconductor Corp		204
	57,700		ONEOK, Inc		1,499
	97,800		Oracle Corp		5,839
	4,470	*	O’Reilly Automotive, Inc		2,061
	52,265		Otis Worldwide Corp		3,262
	126,593		Owens Corning, Inc		8,711
	8,358		PACCAR, Inc		713
	8,755		Packaging Corp of America		955
	1,785,714	*	Pactiv Evergreen, Inc		22,679
	2,331	*	Palo Alto Networks, Inc		571
	176,088		Parker-Hannifin Corp		35,630
	273,466		Parsley Energy, Inc		2,560
	7,799		Paychex, Inc		622
	1,209	*	Paycom Software, Inc		376
	977,173	*	PayPal Holdings, Inc		192,532
	700,860	*	Peloton Interactive, Inc		69,553
	3,989		Pentair plc		183
	11,915		People’s United Financial, Inc		123
	350,014		PepsiCo, Inc		48,512
	30,713		PerkinElmer, Inc		3,855
	74,064		Perrigo Co plc		3,400
	1,060,938		Pfizer, Inc		38,936
	26,600	*,b	PG&E Corp		250
	169,716		Philip Morris International, Inc		12,727
	422,420		Phillips 66		21,898
	2,675		Pinnacle West Capital Corp		199
	9,806	*	Pinterest, Inc		407

245

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	79,517		Pioneer Natural Resources Co	$	6,838
	137,330		PNC Financial Services Group, Inc		15,094
	155,347		PPG Industries, Inc		18,965
	93,884		PPL Corp		2,555
	6,550		Principal Financial Group		264
	1,553,605		Procter & Gamble Co		215,936
	180,081		Progressive Corp		17,048
	218,238		Prologis, Inc		21,959
	56,265		Prudential Financial, Inc		3,574
	2,596	*	PTC, Inc		215
	70,495		Public Service Enterprise Group, Inc		3,871
	16,801		Public Storage, Inc		3,742
	6,589		Pulte Homes, Inc		305
	1,944	*	QIAGEN NV (Turquoise)		101
	2,779	*	Qorvo, Inc		359
	156,000		QTS Realty Trust, Inc		9,831
	700,632		QUALCOMM, Inc		82,450
	72,412		Quest Diagnostics, Inc		8,290
	1,355		Ralph Lauren Corp		92
	2,969		Raymond James Financial, Inc		216
	648,007		Raytheon Technologies Corp		37,286
	34,294		Realty Income Corp		2,083
	49,475		Regency Centers Corp		1,881
	141,075	*	Regeneron Pharmaceuticals, Inc		78,971
	23,525		Regions Financial Corp		271
	1,656		Reinsurance Group of America, Inc (Class A)		158
	5,385		Republic Services, Inc		503
	7,496		Resmed, Inc		1,285
	566,370		Rexford Industrial Realty, Inc		25,917
	1,768	*	RingCentral, Inc		486
	2,644		Robert Half International, Inc		140
	59,855		Rockwell Automation, Inc		13,209
	2,458	*	Roku, Inc		464
	3,785		Rollins, Inc		205
	84,828		Roper Technologies Inc		33,516
	28,960		Ross Stores, Inc		2,703
	18,290		Royal Caribbean Cruises Ltd		1,184
	3,221		RPM International, Inc		267
	53,894		S&P Global, Inc		19,434
	896,570	*	salesforce.com, Inc		225,326
	11,748	*	Sarepta Therapeutics, Inc		1,650
	10,294		SBA Communications Corp		3,278
	221,237		Schlumberger Ltd		3,442
	5,584		Seagate Technology, Inc		275
	3,557		Sealed Air Corp		138
	528,835	*	Seattle Genetics, Inc		103,488
	2,994		SEI Investments Co		152
	39,263		Sempra Energy		4,647
	3,892	*	Sensata Technologies Holding plc		168
	259,568	*	ServiceNow, Inc		125,890
	17,059		Sherwin-Williams Co		11,886
	1,382		Signature Bank		115
	35,883		Simon Property Group, Inc		2,321
	24,037	e	Sirius XM Holdings, Inc		129
	142,631		Skyworks Solutions, Inc		20,753
	259,057	*,e	Slack Technologies, Inc		6,958

246

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	21,537	*	Snap, Inc	$	562
	1,162		Snap-On, Inc		171
	252,888		Southern Co		13,712
	3,550		Southwest Airlines Co		133
	3,838	*	Splunk, Inc		722
	39,800	*	Spotify Technology S.A.		9,654
	8,772	*	Square, Inc		1,426
	5,608		SS&C Technologies Holdings, Inc		339
	33,913		Stanley Black & Decker, Inc		5,501
	170,604		Starbucks Corp		14,658
	103,006		State Street Corp		6,111
	5,169		Steel Dynamics, Inc		148
	2,057		STERIS plc		362
	63,164		Stryker Corp		13,161
	32,791		Sun Communities, Inc		4,611
	1,205	*	SVB Financial Group		290
	12,674		Synchrony Financial		332
	74,072	*	Synopsys, Inc		15,850
	43,900		SYSCO Corp		2,731
	5,500		T Rowe Price Group, Inc		705
	61,456	*	Take-Two Interactive Software, Inc		10,154
	598,026		Target Corp		94,141
	75,335		TD Ameritrade Holding Corp		2,949
	305,763		TE Connectivity Ltd		29,885
	18,712	*,e	Teladoc, Inc		4,102
	883	*	Teledyne Technologies, Inc		274
	1,122		Teleflex, Inc		382
	1,462		Tenaris S.A.		7
	4,051		Teradyne, Inc		322
	26,000		Terreno Realty Corp		1,424
	282,410	*	Tesla, Inc		121,157
	48,420		Texas Instruments, Inc		6,914
	195,739		Textron, Inc		7,064
	88,998		Thermo Fisher Scientific, Inc		39,294
	2,669		Tiffany & Co		309
	210,534		TJX Companies, Inc		11,716
	167,691	*	T-Mobile US, Inc		19,177
	2,793		Tractor Supply Co		400
	988	*	Trade Desk, Inc		513
	1,794		Tradeweb Markets, Inc		104
	397,724		Trane Technologies plc		48,224
	16,293		TransDigm Group, Inc		7,741
	4,586		TransUnion		386
	6,108		Travelers Cos, Inc		661
	6,134	*	Trimble Inc		299
	273,059		Tronox Holdings plc		2,149
	32,554		Truist Financial Corp		1,239
	2,956	*	Twilio, Inc		730
	18,961	*	Twitter, Inc		844
	969	*	Tyler Technologies, Inc		338
	22,766		Tyson Foods, Inc (Class A)		1,354
	23,037	*	Uber Technologies, Inc		840
	7,908		UDR, Inc		258
	5,116		UGI Corp		169
	47,097	*	Ulta Beauty, Inc		10,549
	851,571		Union Pacific Corp		167,649

247

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	196,762		United Parcel Service, Inc (Class B)	$	32,786
	1,741	*	United Rentals, Inc		304
	436,984		UnitedHealth Group, Inc		136,239
	1,941		Universal Health Services, Inc (Class B)		208
	291,487		US Bancorp		10,450
	4,086		Vail Resorts, Inc		874
	504,651		Valero Energy Corp		21,861
	302,024		Vanguard Emerging Markets ETF		13,060
	50,000		Vanguard FTSE Developed Markets ETF		2,045
	12,195	*	Varian Medical Systems, Inc		2,098
	23,070	*	Veeva Systems, Inc		6,487
	39,013		Ventas, Inc		1,637
	28,586		VEREIT, Inc		186
	77,012	*	VeriSign, Inc		15,776
	3,727		Verisk Analytics, Inc		691
	905,687		Verizon Communications, Inc		53,879
	86,173	*	Vertex Pharmaceuticals, Inc		23,449
	25,884		VF Corp		1,818
	69,776		ViacomCBS, Inc (Class B)		1,954
	85,904		VICI Properties, Inc		2,008
	917,848		Visa, Inc (Class A)		183,542
	45,975		Vistra Energy Corp		867
	2,063	*	VMware, Inc (Class A)		296
	4,237		Vornado Realty Trust		143
	427,715		Voya Financial, Inc		20,500
	88,201		Vulcan Materials Co		11,955
	3,455		W.R. Berkley Corp		211
	57,877		W.W. Grainger, Inc		20,649
	4,362		Wabtec Corp		270
	18,003		Walgreens Boots Alliance, Inc		647
	1,082,955		Walmart, Inc		151,516
	1,310,239		Walt Disney Co		162,574
	6,351		Waste Connections, Inc		659
	194,487		Waste Management, Inc		22,010
	1,524	*	Waters Corp		298
	1,553	*,e	Wayfair, Inc		452
	7,624		WEC Energy Group, Inc		739
	94,099		Wells Fargo & Co		2,212
	46,084		Welltower, Inc		2,539
	28,327		West Pharmaceutical Services, Inc		7,787
	7,041		Western Digital Corp		257
	9,784		Western Union Co		210
	5,908		WestRock Co		205
	46,432		Weyerhaeuser Co		1,324
	1,445		Whirlpool Corp		266
	165,583		Williams Cos, Inc		3,254
	7,974		Willis Towers Watson plc		1,665
	4,205	*	Workday, Inc		905
	4,158		WP Carey, Inc		271
	564,517	*	WPX Energy, Inc		2,766
	920,577		Wynn Resorts Ltd		66,107
	12,698		Xcel Energy, Inc		876
	5,875		Xilinx, Inc		612
	2,177	*	XPO Logistics, Inc		184
	4,354		Xylem, Inc		366
	117,105	*	YETI Holdings, Inc		5,307

248

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

SHARES			COMPANY	VALUE (000)
	43,201		Yum! Brands, Inc	$	3,944
	1,293	*	Zebra Technologies Corp (Class A)		326
	3,394	*	Zillow Group, Inc (Class C)		345
	131,615		Zimmer Biomet Holdings, Inc		17,918
	4,379		Zions Bancorporation		128
	207,625		Zoetis, Inc		34,335
	3,847	*	Zoom Video Communications, Inc		1,809
	31,294	*	Zscaler, Inc		4,403
			TOTAL UNITED STATES		11,648,674
ZAMBIA - 0.0%
	830,761		First Quantum Minerals Ltd		7,406
			TOTAL ZAMBIA		7,406
			TOTAL COMMON STOCKS		20,690,576
			(Cost $17,141,649)
PURCHASED OPTIONS - 0.0%
UNITED STATES - 0.0%
	37,000		Dow, Inc		108
			TOTAL UNITED STATES		108
			TOTAL PURCHASED OPTIONS		108
			(Cost $51)
RIGHTS / WARRANTS - 0.0%
AUSTRALIA - 0.0%
	85,557	e	PointsBet Holdings Pty Ltd		144
			TOTAL AUSTRALIA		144
CHINA - 0.0%
	3,146	†	Legend Holdings Corp		1
			TOTAL CHINA		1
SWEDEN - 0.0%
	160,083		SAS AB		8
			TOTAL SWEDEN		8
THAILAND - 0.0%
	21,995		Minor International PCL		5
	20,577	†	Siam Cement PCL		0
	5,464		Srisawad Corp PCL		2
			TOTAL THAILAND		7
UNITED STATES - 0.0%
	10,700		Bristol-Myers Squibb Co		24
			TOTAL UNITED STATES		24
			TOTAL RIGHTS / WARRANTS		184
			(Cost $50)

249

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
SHORT-TERM INVESTMENTS - 1.0%
GOVERNMENT AGENCY DEBT - 0.6%
$	10,000,000		Federal Farm Credit Bank (FFCB)		0.200	%	11/04/20	$	9,999
	12,000,000		FFCB		0.100		12/18/20		11,998
	41,470,000		Federal Home Loan Bank (FHLB)		0.090-0.115		10/16/20		41,469
	31,615,000		FHLB		0.102		11/04/20		31,613
	10,000,000		FHLB		0.094		11/06/20		9,999
	10,000,000		Federal National Mortgage Association (FNMA)		0.200		10/16/20		10,000
			TOTAL GOVERNMENT AGENCY DEBT						115,078
TREASURY DEBT - 0.3%
$	22,875,000		United States Cash Management Bill		0.065		10/13/20		22,874
	21,030,000		United States Treasury Bill		0.090-0.094		10/06/20		21,030
	14,230,000		United States Treasury Bill		0.081		11/05/20		14,229
			TOTAL TREASURY DEBT						58,133
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 0.1%
CERTIFICATE OF DEPOSIT - 0.0%
	7,000,000		Lloyds Bank plc		0.58		10/01/20		7,000
			TOTAL CERTIFICATE OF DEPOSIT						7,000
REPURCHASE AGREEMENT - 0.1%
	4,000,000	r	Calyon		0.08		10/01/20		4,000
	745,000	s	Calyon		0.08		10/01/20		745
	4,000,000	t	Citigroup		0.06		10/01/20		4,000
	4,000,000	u	Deutsche Bank		0.06		10/01/20		4,000
	5,000,000	v	Goldman Sachs		0.06		10/01/20		5,000
	4,000,000	w	Merrill Lynch		0.08		10/01/20		4,000
	4,000,000	x	Societe Generale		0.08		10/01/20		4,000
			TOTAL REPURCHASE AGREEMENT						25,745
			TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED						32,745
			TOTAL SHORT-TERM INVESTMENTS						205,956
			(Cost $205,952)
			TOTAL INVESTMENTS - 99.7%						20,896,824
			(Cost $17,347,702)
			OTHER ASSETS & LIABILITIES, NET - 0.3%						70,842
			NET ASSETS - 100.0%					$	20,967,666

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

*	Non-income producing
^	Amount represents less than $1,000.
†	Security is categorized as Level 3 in the fair value hierarchy.
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 $133,832,386.

250

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

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 9/30/20, the aggregate value of these securities is $299,922,723 or 1.4% 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, 0.08% dated 9/30/2020 to be repurchased at $4,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $4,080,000.
s	Agreement with Calyon, 0.08% dated 9/30/2020 to be repurchased at $745,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $759,900.
t	Agreement with Citigroup, 0.06% dated 9/30/2020 to be repurchased at $4,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $4,080,000.
u	Agreement with Deutsche Bank, 0.06% dated 9/30/2020 to be repurchased at $4,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $4,080,000.
v	Agreement with Goldman Sachs, 0.06% dated 9/30/2020 to be repurchased at $5,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $5,100,000.
w	Agreement with Merrill Lynch, 0.08% dated 9/30/2020 to be repurchased at $4,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $4,080,000.
x	Agreement with Societe Generale, 0.08% dated 9/30/2020 to be repurchased at $4,000,000 on 10/01/20, collateralized by U.S. Government Agency Securities valued at $4,080,000.
	Cost amounts are in thousands.

Purchased options outstanding as of September 30, 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	$	108

Written options outstanding as of September 30, 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	936	$	(503	)	$          92 .50	10/16/20	$	(2,200	)
Dow, Inc, Put	370		(51	)	25 .00	01/15/21		(11	)
DuPont de Nemours, Inc, Put	228		(93	)	42 .50	10/16/20		(2	)
DuPont de Nemours, Inc, Put	228		(120	)	45 .00	10/16/20		(2	)
Total	1,762	$	(767	)			$	(2,215	)

Futures contracts outstanding as of September 30, 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	346	12/18/20	$	32,562	$	32,060	$	(501	)
S&P 500 E Mini Index	418	12/18/20		70,848		70,057		(792	)
Total	764		$	103,410	$	102,117	$	(1,293	)

251

COLLEGE RETIREMENT EQUITIES FUND - Global Equities Account

COLLEGE RETIREMENT EQUITIES FUND
GLOBAL EQUITIES ACCOUNT
SUMMARY OF MARKET VALUES BY SECTOR (unaudited)
September 30, 2020

SECTOR	VALUE (000)		% OF NET ASSETS
INFORMATION TECHNOLOGY	$	4,799,809		22.9	%
CONSUMER DISCRETIONARY		3,318,074		15.8
HEALTH CARE		2,703,768		12.9
FINANCIALS		2,192,619		10.5
INDUSTRIALS		1,871,357		8.9
COMMUNICATION SERVICES		1,808,512		8.6
CONSUMER STAPLES		1,626,240		7.8
MATERIALS		1,154,861		5.5
UTILITIES		564,813		2.7
REAL ESTATE		344,777		1.6
ENERGY		306,038		1.5
SHORT-TERM INVESTMENTS		205,956		1.0
OTHER ASSETS & LIABILITES, NET		70,842		0.3
NET ASSETS	$	20,967,666		100.0	%

252

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

COLLEGE RETIREMENT EQUITIES FUND
GROWTH ACCOUNT
SCHEDULE OF INVESTMENTS (unaudited)
September 30, 2020

SHARES			COMPANY	VALUE (000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 1.7%
	720,164		Aptiv plc	$	66,025
	1,158,645	*	Tesla, Inc		497,070
			TOTAL AUTOMOBILES & COMPONENTS		563,095
BANKS - 0.1%
	1,341	*,e	LendingTree, Inc		411
	1,543,735	*,e	Rocket Cos, Inc		30,767
			TOTAL BANKS		31,178
CAPITAL GOODS - 1.6%
	67,042		3M Co		10,739
	10,355		Allegion plc		1,024
	12,495		Allison Transmission Holdings, Inc		439
	2,136		Armstrong World Industries, Inc		147
	10,346	*	Axon Enterprise, Inc		938
	1,186	*	AZEK Co, Inc		41
	9,639		BWX Technologies, Inc		543
	56,029		Carrier Global Corp		1,711
	2,971,074	*	Churchill Capital Corp IV		29,770
	833	e	Donaldson Co, Inc		39
	85,001		Fastenal Co		3,833
	10,019	*	Generac Holdings, Inc		1,940
	14,224		Graco, Inc		873
	7,491		HEICO Corp		784
	10,955		HEICO Corp (Class A)		971
	647,645		Honeywell International, Inc		106,609
	322		Huntington Ingalls		45
	25,613		Illinois Tool Works, Inc		4,949
	4,155		Lincoln Electric Holdings, Inc		383
	44,754		Lockheed Martin Corp		17,153
	7,192	*	Mercury Systems, Inc		557
	8,591		Nordson Corp		1,648
	25,895		Northrop Grumman Corp		8,170
	3,500		Quanta Services, Inc		185
	1,855,473		Raytheon Technologies Corp		106,764
	10,788		Rockwell Automation, Inc		2,381
	549,678		Roper Technologies Inc		217,183
	16,585		Toro Co		1,392
	2,092		TransDigm Group, Inc		994
	21,010	*	Trex Co, Inc		1,504
	36,784	*	Vertiv Holdings Co		637
	5,201	*,e	Virgin Galactic Holdings, Inc		100
	5,983		W.W. Grainger, Inc		2,135
			TOTAL CAPITAL GOODS		526,581

253

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
COMMERCIAL & PROFESSIONAL SERVICES - 2.8%
	651,292	*,e	Cimpress plc	$	48,951
	14,321		Cintas Corp		4,766
	5,187,298	*	Clarivate Analytics plc		160,754
	36,334	*	Copart, Inc		3,821
	200,241	*	CoStar Group, Inc		169,906
	4,151	*	Dun & Bradstreet Holdings, Inc		106
	954,754		Equifax, Inc		149,801
	3,912,180		Experian Group Ltd		146,998
	4,795	*	IAA, Inc		250
	38,932		IHS Markit Ltd		3,057
	930		MSA Safety, Inc		125
	22,355		Rollins, Inc		1,211
	32,254		TransUnion		2,714
	28,654		Verisk Analytics, Inc		5,310
	2,133,915		Waste Connections, Inc		221,500
	10,256		Waste Management, Inc		1,161
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		920,431
CONSUMER DURABLES & APPAREL - 1.9%
	646,649		Essilor International S.A.		88,033
	20,445	*	Lululemon Athletica, Inc		6,734
	34,817	*	Mattel, Inc		407
	2,613,717		Nike, Inc (Class B)		328,126
	41	*	NVR, Inc		167
	289,796	*	Peloton Interactive, Inc		28,759
	945		Polaris Inc		89
	13,734,600		Prada S.p.A		54,040
	1,413,002		Sony Corp		108,295
	5,971	*	Tempur Sealy International, Inc		533
	3,073		VF Corp		216
			TOTAL CONSUMER DURABLES & APPAREL		615,399
CONSUMER SERVICES - 1.7%
	6,850	*	Bright Horizons Family Solutions		1,041
	4,577,145	e	Carnival Corp		69,481
	22,153	*	Chegg, Inc		1,583
	198,243	*	Chipotle Mexican Grill, Inc (Class A)		246,557
	6,941		Domino’s Pizza, Inc		2,952
	11,941	e	Dunkin Brands Group, Inc		978
	263,175	*	Flutter Entertainment plc		41,456
	963	*	frontdoor, Inc		37
	23,050		H&R Block, Inc		376
	204,922		Hilton Worldwide Holdings, Inc		17,484
	917,897		Las Vegas Sands Corp		42,829
	19,498		McDonald’s Corp		4,280
	7,808	*	Planet Fitness, Inc		481
	1,608,199		Starbucks Corp		138,176
	262		Vail Resorts, Inc		56
	31,764		Wendy’s		708
	4,049		Wynn Resorts Ltd		291
	3,915		Yum China Holdings, Inc		207
	4,557		Yum! Brands, Inc		416
			TOTAL CONSUMER SERVICES		569,389

254

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
DIVERSIFIED FINANCIALS - 3.4%
	277,863		Apollo Global Management, Inc	$	12,434
	16,198		Ares Management Corp		655
	1,792		Carlyle Group, Inc		44
	4,166		CBOE Global Markets, Inc		366
	112	*,e	Credit Acceptance Corp		38
	6,705		Factset Research Systems, Inc		2,245
	1,424,461		Intercontinental Exchange Group, Inc		142,517
	1,609,500		iShares Russell 1000 Growth Index Fund		349,084
	1,010		LPL Financial Holdings, Inc		77
	6,590		MarketAxess Holdings, Inc		3,174
	29,227		Moody’s Corp		8,471
	3,255		Morningstar, Inc		523
	14,664		MSCI, Inc (Class A)		5,232
	1,191,512	*	Ribbit LEAP Ltd		15,490
	1,488,995		S&P Global, Inc		536,932
	6,096		SLM Corp		49
	10,339		T Rowe Price Group, Inc		1,326
	13,526		Tradeweb Markets, Inc		785
	8,029		Virtu Financial, Inc		185
	956,758		Voya Financial, Inc		45,857
			TOTAL DIVERSIFIED FINANCIALS		1,125,484
ENERGY - 0.0%
	40,713	*	Cheniere Energy, Inc		1,884
	8,056		Equitrans Midstream Corp		68
			TOTAL ENERGY		1,952
FOOD & STAPLES RETAILING - 1.6%
	3,266	*,e	Albertsons Cos, Inc		45
	1,221,436		Costco Wholesale Corp		433,610
	5,842	*	Grocery Outlet Holding Corp		230
	15,987	*	Sprouts Farmers Market, Inc		334
	63,272		SYSCO Corp		3,937
	721,312		Walmart, Inc		100,919
			TOTAL FOOD & STAPLES RETAILING		539,075
FOOD, BEVERAGE & TOBACCO - 1.5%
	146,039		Altria Group, Inc		5,643
	7,472	*,e	Beyond Meat, Inc		1,241
	1,569	*	Boston Beer Co, Inc (Class A)		1,386
	6,822		Brown-Forman Corp (Class A)		468
	27,926		Brown-Forman Corp (Class B)		2,103
	16,435		Campbell Soup Co		795
	408,519		Coca-Cola Co		20,169
	144,518		Constellation Brands, Inc (Class A)		27,388
	6,897,816		Davide Campari-Milano NV		75,286
	1,379,943		Fevertree Drinks plc		41,239
	20,236		Hershey Co		2,901
	14,371		Kellogg Co		928
	2,094,637		Keurig Dr Pepper, Inc		57,812
	5,727		Lamb Weston Holdings, Inc		379
	12,165		McCormick & Co, Inc		2,361

255

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	2,785,069	*	Monster Beverage Corp	$	223,362
	183,116		PepsiCo, Inc		25,380
	3,848	*	Pilgrim’s Pride Corp		58
			TOTAL FOOD, BEVERAGE & TOBACCO		488,899
HEALTH CARE EQUIPMENT & SERVICES - 4.0%
	119,260		Abbott Laboratories		12,979
	7,882	*	Abiomed, Inc		2,184
	1,016,151		Alcon, Inc		57,611
	1,849,493		Alcon, Inc (XNYS)		105,329
	346,656	*	Align Technology, Inc		113,481
	5,574	*	Amedisys, Inc		1,318
	12,106		AmerisourceBergen Corp		1,173
	12,277		Anthem, Inc		3,297
	38,484		Baxter International, Inc		3,095
	5,743,751	*	Boston Scientific Corp		219,469
	52,729		Cardinal Health, Inc		2,476
	30,459	*	Centene Corp		1,777
	53,689		Cerner Corp		3,881
	27,493	*	Change Healthcare, Inc		399
	2,772		Chemed Corp		1,332
	572,472		Cigna Corp		96,983
	1,199		Cooper Cos, Inc		404
	831,404		CVS Health Corp		48,554
	1,969	*	DaVita, Inc		169
	16,566	*	DexCom, Inc		6,829
	111,073	*	Edwards Lifesciences Corp		8,866
	6,706		Encompass Health Corp		436
	1,459,475	*	Guardant Health, Inc		163,140
	8,147	*	Haemonetics Corp		711
	25,063		HCA Healthcare, Inc		3,125
	985		Hill-Rom Holdings, Inc		82
	32,006	*	Hologic, Inc		2,127
	8,926		Humana, Inc		3,694
	687	*	ICU Medical, Inc		126
	15,382	*	IDEXX Laboratories, Inc		6,047
	11,755	*	Insulet Corp		2,781
	479,296	*	Intuitive Surgical, Inc		340,080
	730	*	Laboratory Corp of America Holdings		137
	9,777	*	Livongo Health, Inc		1,369
	8,698	*	Masimo Corp		2,053
	22,061		McKesson Corp		3,286
	7,110	*	Molina Healthcare, Inc		1,301
	17,788	*	Novocure Ltd		1,980
	1,701	*	Oak Street Health, Inc		91
	6,023	*	Penumbra, Inc		1,171
	22,572	*	PPD, Inc		835
	6,388	*	Quidel Corp		1,401
	25,733		Resmed, Inc		4,411
	572		STERIS plc		101
	20,533		Stryker Corp		4,278
	9,333	*	Tandem Diabetes Care, Inc		1,059
	11,869	*,e	Teladoc, Inc		2,602
	5,263		Teleflex, Inc		1,792

256

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	141,018		UnitedHealth Group, Inc	$	43,965
	2,036	*	Varian Medical Systems, Inc		350
	24,027	*	Veeva Systems, Inc		6,756
	13,197		West Pharmaceutical Services, Inc		3,628
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,296,521
HOUSEHOLD & PERSONAL PRODUCTS - 0.5%
	44,180		Church & Dwight Co, Inc		4,140
	16,369		Clorox Co		3,440
	8,578		Energizer Holdings, Inc		336
	525,317		Estee Lauder Cos (Class A)		114,651
	3,039	*	Herbalife Nutrition Ltd		142
	195,245		Procter & Gamble Co		27,137
	2,878		Reynolds Consumer Products Inc		88
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		149,934
INSURANCE - 0.1%
	140		Alleghany Corp		73
	41,963		Aon plc		8,657
	1,504		Axis Capital Holdings Ltd		66
	812		Brown & Brown, Inc		37
	2,668		Erie Indemnity Co (Class A)		561
	678	*	GoHealth, Inc		9
	2,575		Lincoln National Corp		81
	70,868		Marsh & McLennan Cos, Inc		8,128
	4,645		Primerica, Inc		525
	30,837		Progressive Corp		2,919
	3,067		RenaissanceRe Holdings Ltd		521
			TOTAL INSURANCE		21,577
MATERIALS - 1.0%
	4,852		Air Products & Chemicals, Inc		1,445
	43,596		Amcor plc		482
	6,707		Avery Dennison Corp		857
	54,748		Ball Corp		4,551
	8,020	*	Berry Global Group, Inc		388
	3,036	*	Crown Holdings, Inc		233
	9,067		Ecolab, Inc		1,812
	4,461		FMC Corp		472
	6,402		Graphic Packaging Holding Co		90
	609,413		Linde plc		145,120
	797		NewMarket Corp		273
	9,171		Royal Gold, Inc		1,102
	19,755		RPM International, Inc		1,637
	7,010		Scotts Miracle-Gro Co (Class A)		1,072
	250,942		Sherwin-Williams Co		174,841
	2,614		WR Grace and Co		105
			TOTAL MATERIALS		334,480
MEDIA & ENTERTAINMENT - 13.6%
	53,655		Activision Blizzard, Inc		4,343
	244,517	*	Alphabet, Inc (Class A)		358,364
	694,067	*	Alphabet, Inc (Class C)		1,020,001
	55,943	*	Altice USA, Inc		1,454

257

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	946		Cable One, Inc	$	1,784
	24,238	*	Charter Communications, Inc		15,133
	1,207,933	*	Electronic Arts, Inc		157,526
	5,779,670	*	Facebook, Inc		1,513,696
	900,197	*	JDE Peet’s BV		36,608
	2,468	*	Liberty SiriusXM Group (Class A)		82
	4,756	*	Liberty SiriusXM Group (Class C)		157
	26,860	*	Live Nation, Inc		1,447
	3,392,035	*	Match Group, Inc		375,329
	577,077	*	Netflix, Inc		288,556
	5,219		Nexstar Media Group Inc		469
	59,446	*	Pinterest, Inc		2,468
	19,245	*	Roku, Inc		3,633
	148,816	e	Sirius XM Holdings, Inc		798
	23,567	*	Spotify Technology S.A.		5,717
	18,428	*	Take-Two Interactive Software, Inc		3,045
	2,031,814		Tencent Holdings Ltd		137,236
	5,302,874	*	Twitter, Inc		235,978
	2,260,660		Walt Disney Co		280,503
	7,944		World Wrestling Entertainment, Inc (Class A)		321
	1,412	*	Zillow Group, Inc (Class A)		143
	3,362	*	Zillow Group, Inc (Class C)		341
	130,056	*	Zynga, Inc		1,186
			TOTAL MEDIA & ENTERTAINMENT		4,446,318
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 11.5%
	349,986	*	10X Genomics, Inc		43,636
	3,406,710		AbbVie, Inc		298,394
	19,232	*	Acadia Pharmaceuticals, Inc		793
	8,383	*	Acceleron Pharma, Inc		943
	13,398	*	Adaptive Biotechnologies Corp		652
	4,862		Agilent Technologies, Inc		491
	1,273	*	Agios Pharmaceuticals, Inc		45
	5,999	*	Alexion Pharmaceuticals, Inc		687
	20,805	*	Alnylam Pharmaceuticals, Inc		3,029
	533,987		Amgen, Inc		135,718
	4,144,521		AstraZeneca plc		452,849
	13,722,943	*	Avantor, Inc		308,629
	965	*	Berkeley Lights, Inc		74
	8,769	*	Biogen, Inc		2,488
	320,731	*	BioMarin Pharmaceutical, Inc		24,401
	6,233		Bio-Techne Corp		1,544
	4,750	*	Bluebird Bio, Inc		256
	147,843		Bristol-Myers Squibb Co		8,913
	7,486		Bruker BioSciences Corp		298
	8,194	*	Charles River Laboratories International, Inc		1,856
	2,088,029		Eli Lilly & Co		309,070
	23,289	*	Exact Sciences Corp		2,374
	18,122	*	Exelixis, Inc		443
	9,782	*	Global Blood Therapeutics, Inc		539
	544,376	*	Horizon Therapeutics Plc		42,287
	982,914	*	Illumina, Inc		303,799
	37,558	*	Immunomedics, Inc		3,194
	33,320	*	Incyte Corp		2,990

258

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	10,730	*	Ionis Pharmaceuticals, Inc	$	509
	22,477	*	Iovance Biotherapeutics, Inc		740
	619,882	*	IQVIA Holdings, Inc		97,712
	63,350		Johnson & Johnson		9,432
	399,163		Lonza Group AG.		246,338
	397,399		Merck & Co, Inc		32,964
	3,991	*	Mettler-Toledo International, Inc		3,854
	51,780	*	Moderna, Inc		3,663
	16,776	*	Neurocrine Biosciences, Inc		1,613
	3,976	*	PerkinElmer, Inc		499
	9,526	*	PRA Health Sciences, Inc		966
	3,162	*	Reata Pharmaceuticals, Inc		308
	443,927	*	Regeneron Pharmaceuticals, Inc		248,501
	9,261	*	Repligen Corp		1,366
	6,799		Royalty Pharma plc		286
	768	*	Sage Therapeutics, Inc		47
	13,414	*	Sarepta Therapeutics, Inc		1,884
	514,842	*	Seattle Genetics, Inc		100,749
	1,516	*	Syneos Health, Inc		81
	41,638		Thermo Fisher Scientific, Inc		18,384
	1,171,828	*	Vertex Pharmaceuticals, Inc		318,878
	613	*	Waters Corp		120
	6,652,503	*,g	Wuxi Biologics Cayman, Inc		163,040
	3,227,132		Zoetis, Inc		533,671
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		3,735,997
REAL ESTATE - 0.2%
	79,440		American Tower Corp		19,203
	1,952		Americold Realty Trust		70
	2,065	e	Brookfield Property REIT, Inc		25
	4,326		Coresite Realty		514
	69,878		Crown Castle International Corp		11,635
	15,800		Equinix, Inc		12,010
	13,288		Equity Lifestyle Properties, Inc		815
	15,979		Extra Space Storage, Inc		1,710
	29,658	e	Iron Mountain, Inc		794
	18,316		Public Storage, Inc		4,079
	2,768		SBA Communications Corp		882
	41,874		Simon Property Group, Inc		2,708
			TOTAL REAL ESTATE		54,445
RETAILING - 12.0%
	764,152	*	Amazon.com, Inc		2,406,108
	1,366,602	*	ASOS plc		90,737
	2,527	*	AutoZone, Inc		2,976
	7,555		Best Buy Co, Inc		841
	214,401	*	Booking Holdings, Inc		366,771
	10,276	*	Burlington Stores, Inc		2,118
	1,655,430	*	CarMax, Inc		152,151
	9,914	*	Carvana Co		2,211
	45,134		Dollar General Corp		9,461
	21,220	*	Dollar Tree, Inc		1,938
	451,066		eBay, Inc		23,501
	21,596	*	Etsy, Inc		2,627

259

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	3,367		Expedia Group, Inc	$	309
	2,777,343	*	Farfetch Ltd		69,878
	9,420	*	Five Below, Inc		1,196
	16,017	*	Floor & Decor Holdings, Inc		1,198
	1,655,509	*	GrubHub, Inc		119,743
	254,524		Home Depot, Inc		70,684
	2,359,301	*	JD.com, Inc (ADR)		183,105
	1,183,066		Lowe’s Companies, Inc		196,223
	8,454	*,e	Ollie’s Bargain Outlet Holdings, Inc		738
	13,463	*	O’Reilly Automotive, Inc		6,208
	6,917		Pool Corp		2,314
	51,693		Ross Stores, Inc		4,824
	2,057,125		TJX Companies, Inc		114,479
	20,823		Tractor Supply Co		2,985
	1,933,330	*	Trip.com Group Ltd (ADR)		60,204
	9,078	*	Ulta Beauty, Inc		2,033
	3,623	*	Vroom, Inc		188
	10,898	*,e	Wayfair, Inc		3,171
	1,753		Williams-Sonoma, Inc		159
			TOTAL RETAILING		3,901,079
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 8.4%
	2,548,737	*	Advanced Micro Devices, Inc		208,971
	7,938		Analog Devices, Inc		927
	4,798,022		Applied Materials, Inc		285,242
	571,981		Broadcom, Inc		208,384
	18,426	*	Enphase Energy, Inc		1,522
	22,442		Entegris, Inc		1,668
	8,752	*	Inphi Corp		982
	940,792		Intel Corp		48,714
	27,917		KLA Corp		5,409
	329,980		Lam Research Corp		109,471
	6,112,933		Marvell Technology Group Ltd		242,683
	16,664		Maxim Integrated Products, Inc		1,127
	32,792		Microchip Technology, Inc		3,370
	7,402		MKS Instruments, Inc		809
	8,031		Monolithic Power Systems, Inc		2,246
	1,326,528		NVIDIA Corp		717,943
	2,028,858		NXP Semiconductors NV		253,222
	2,515,218		QUALCOMM, Inc		295,991
	964,501		Skyworks Solutions, Inc		140,335
	8,951	*	SolarEdge Technologies, Inc		2,133
	1,820,796	*	Taiwan Semiconductor Manufacturing Co Ltd (ADR)		147,612
	30,013		Teradyne, Inc		2,385
	401,076		Texas Instruments, Inc		57,270
	7,482		Universal Display Corp		1,352
	43,432		Xilinx, Inc		4,527
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		2,744,295
SOFTWARE & SERVICES - 23.4%
	1,903	*	2U, Inc		64
	114,558		Accenture plc		25,889
	729,522	*	Adobe, Inc		357,780
	205,453	*,g	Adyen NV		378,955

260

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	24,028	*	Akamai Technologies, Inc	$	2,656
	9,516	*,e	Alteryx, Inc		1,081
	22,892	*	Anaplan, Inc		1,433
	15,296	*	Ansys, Inc		5,005
	11,159	*	Aspen Technology, Inc		1,413
	445,751	*	Atlassian Corp plc		81,033
	26,288	*	Autodesk, Inc		6,073
	66,907		Automatic Data Processing, Inc		9,333
	15,313	*	Avalara, Inc		1,950
	1,369	*	BigCommerce Holdings, Inc		114
	9,210	*	Bill.Com Holdings, Inc		924
	26,512	*	Black Knight, Inc		2,308
	24,601		Booz Allen Hamilton Holding Co		2,041
	20,950		Broadridge Financial Solutions, Inc		2,765
	971	*	CACI International, Inc (Class A)		207
	49,318	*	Cadence Design Systems, Inc		5,259
	2,639		CDK Global, Inc		115
	13,866	*	Ceridian HCM Holding, Inc		1,146
	5,976		Citrix Systems, Inc		823
	18,838	*	Cloudflare, Inc		774
	7,202		Cognizant Technology Solutions Corp (Class A)		500
	368		CoreLogic Inc		25
	11,936	*	Coupa Software, Inc		3,273
	19,842	*	Crowdstrike Holdings, Inc		2,725
	27,830	*	Datadog, Inc		2,843
	31,992	*	DocuSign, Inc		6,886
	46,427	*	Dropbox, Inc		894
	2,211	*	Duck Creek Technologies, Inc		100
	30,438	*	Dynatrace, Inc		1,249
	12,127	*	Elastic NV		1,308
	9,697	*	EPAM Systems, Inc		3,135
	6,059	*	Everbridge, Inc		762
	5,288	*	Fair Isaac Corp		2,249
	13,529	*	Fastly, Inc		1,267
	10,976	*	FireEye, Inc		136
	30,652	*	Fiserv, Inc		3,159
	11,496	*	Five9, Inc		1,491
	14,846	*	FleetCor Technologies, Inc		3,535
	24,329	*	Fortinet, Inc		2,866
	16,099	*	Gartner, Inc		2,012
	13,797		Genpact Ltd		537
	6,691	*	Globant S.A.		1,199
	29,817	*	GoDaddy, Inc		2,265
	2,651	*	Guidewire Software, Inc		276
	7,555	*	HubSpot, Inc		2,208
	1,704,544		Intuit, Inc		556,039
	10,924		Jack Henry & Associates, Inc		1,776
	1,831	*,e	Jamf Holding Corp		69
	3,030		Leidos Holdings, Inc		270
	10,305	*	Manhattan Associates, Inc		984
	946,318		Mastercard, Inc (Class A)		320,016
	14,514	*,e	Medallia, Inc		398
	8,933,182		Microsoft Corp		1,878,916
	9,350	*	MongoDB, Inc		2,165

261

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	1,193	*,e	nCino, Inc	$	95
	9,373	*	New Relic, Inc		528
	98,338		NortonLifelock, Inc		2,049
	34,100	*	Nutanix, Inc		756
	20,696	*	Okta, Inc		4,426
	304,102		Oracle Corp		18,155
	11,658	*,e	Pagerduty, Inc		316
	16,913	*	Palo Alto Networks, Inc		4,139
	46,421		Paychex, Inc		3,703
	8,866	*	Paycom Software, Inc		2,760
	6,264	*	Paylocity Holding Corp		1,011
	4,885,971	*	PayPal Holdings, Inc		962,683
	6,003		Pegasystems, Inc		727
	15,406	*	Pluralsight, Inc		264
	10,198	*	Proofpoint, Inc		1,076
	19,277	*	PTC, Inc		1,595
	13,693	*	RealPage, Inc		789
	13,966	*	RingCentral, Inc		3,835
	4,435,430	*	salesforce.com, Inc		1,114,712
	1,732		Science Applications International Corp		136
	666,695	*	ServiceNow, Inc		323,347
	2,888,994	*,e	Slack Technologies, Inc		77,598
	20,205	*	Smartsheet, Inc		999
	176,324	*	Splunk, Inc		33,172
	563,179	*	Square, Inc		91,545
	9,669		SS&C Technologies Holdings, Inc		585
	32,890	*	StoneCo Ltd		1,740
	17,525		Switch, Inc		274
	453,282	*	Synopsys, Inc		96,993
	13,894	*,e	Teradata Corp		315
	7,436	*	Trade Desk, Inc		3,858
	581,284	*	Twilio, Inc		143,630
	7,162	*	Tyler Technologies, Inc		2,496
	10,904	*	VeriSign, Inc		2,234
	4,970,560		Visa, Inc (Class A)		993,963
	13,958	e	VMware, Inc (Class A)		2,005
	13,492		Western Union Co		289
	301	*	WEX, Inc		42
	30,876	*	Workday, Inc		6,642
	21,408	*	Zendesk, Inc		2,203
	30,069	*	Zoom Video Communications, Inc		14,136
	12,285	*	Zscaler, Inc		1,728
			TOTAL SOFTWARE & SERVICES		7,620,223
TECHNOLOGY HARDWARE & EQUIPMENT - 5.8%
	31,462		Amphenol Corp (Class A)		3,406
	15,953,504		Apple, Inc		1,847,575
	8,674	*	Arista Networks, Inc		1,795
	25,951		CDW Corp		3,102
	29,709		Cognex Corp		1,934
	3,692	*	Coherent, Inc		410
	2,800	*	CommScope Holding Co, Inc		25
	2,265	*	Dell Technologies, Inc		153
	404		Dolby Laboratories, Inc (Class A)		27

262

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
	530	*	IPG Photonics Corp	$	90
	6,385		Jabil Inc		219
	11,341	*	Keysight Technologies, Inc		1,120
	1,841	*	Lumentum Holdings, Inc		138
	3,548		Motorola Solutions, Inc		556
	22,727		NetApp, Inc		996
	30,336	*	Pure Storage, Inc		467
	1,262,400	e	Telefonaktiebolaget Lm Ericsson (ADR)		13,748
	999		Ubiquiti, Inc		167
	8,646	*	Zebra Technologies Corp (Class A)		2,183
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,878,111
TELECOMMUNICATION SERVICES - 1.6%
	1,105,272	g	Cellnex Telecom SAU		67,093
	482,827	*	GoodRx Holdings, Inc		26,845
	2,261,013	*	IAC		270,824
	1,427,803	*	T-Mobile US, Inc		163,284
			TOTAL TELECOMMUNICATION SERVICES		528,046
TRANSPORTATION - 1.1%
	3,512		CH Robinson Worldwide, Inc		359
	17,503		Expeditors International of Washington, Inc		1,584
	4,293		JB Hunt Transport Services, Inc		543
	544,469		Kansas City Southern		98,456
	5,152		Landstar System, Inc		647
	831,404	*,e	Lyft, Inc (Class A)		22,905
	15,378		Old Dominion Freight Line		2,782
	5,708,679	*	Uber Technologies, Inc		208,253
	62,408		Union Pacific Corp		12,286
	83,773		United Parcel Service, Inc (Class B)		13,959
	1,080	*	XPO Logistics, Inc		92
			TOTAL TRANSPORTATION		361,866
UTILITIES - 0.0%
	15,973		NRG Energy, Inc		491
			TOTAL UTILITIES		491
			TOTAL COMMON STOCKS		32,454,866
			(Cost $21,879,164)

PRINCIPAL			ISSUER	RATE			MATURITY DATE
SHORT-TERM INVESTMENTS - 0.6%
GOVERNMENT AGENCY DEBT - 0.0%
$	3,249,000		Federal Home Loan Bank (FHLB)		0.085-0.095	%	10/19/20	3,249
			TOTAL GOVERNMENT AGENCY DEBT					3,249
TREASURY DEBT - 0.4%
	51,525,000		United States Treasury Bill		0.052-0.060		10/06/20	51,525
	50,000,000		United States Treasury Bill		0.065		10/15/20	49,998
			TOTAL TREASURY DEBT					101,523

263

COLLEGE RETIREMENT EQUITIES FUND - Growth Account

SHARES			COMPANY	VALUE (000)
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.2%
	74,658,293	c	State Street Navigator Securities Lending Government Money Market Portfolio	$	74,658
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		74,658
			TOTAL SHORT-TERM INVESTMENTS		179,430
			(Cost $179,430)
			TOTAL INVESTMENTS - 100.1%		32,634,296
			(Cost $22,058,594)
			OTHER ASSETS & LIABILITIES, NET - (0.1)%		(31,729	)
			NET ASSETS - 100.0%	$	32,602,567

	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 $85,953,552.
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 9/30/20, the aggregate value of these securities is $609,087,384 or 1.9% of net assets.
	Cost amounts are in thousands.

264

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

COLLEGE RETIREMENT EQUITIES FUND

EQUITY INDEX ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

				VALUE
SHARES			COMPANY	(000)
COMMON STOCKS - 99.6%
AUTOMOBILES & COMPONENTS - 1.4%
	28,140	*	Adient plc	$	488
	60,325	*	American Axle & Manufacturing Holdings, Inc		348
	159,418		Aptiv plc		14,615
	117,898		BorgWarner, Inc		4,567
	30,001		Cooper Tire & Rubber Co		951
	12,534	*	Cooper-Standard Holding, Inc		166
	76,541		Dana Inc		943
	12,642	*	Dorman Products, Inc		1,143
	2,287,390		Ford Motor Co		15,234
	25,297	*	Fox Factory Holding Corp		1,880
	724,466		General Motors Co		21,437
	125,049		Gentex Corp		3,220
	26,543	*	Gentherm, Inc		1,086
	137,668		Goodyear Tire & Rubber Co		1,056
	99,714		Harley-Davidson, Inc		2,447
	17,506		LCI Industries, Inc		1,861
	34,172		Lear Corp		3,726
	36,302	*	Modine Manufacturing Co		227
	13,147	*,e	Motorcar Parts of America, Inc		204
	6,449		Standard Motor Products, Inc		288
	20,247	*	Stoneridge, Inc		372
	28,062	*	Tenneco, Inc		195
	430,408	*	Tesla, Inc		184,649
	33,002		Thor Industries, Inc		3,144
	16,494	*	Visteon Corp		1,142
	22,457		Winnebago Industries, Inc		1,160
	37,702	*,e	Workhorse Group, Inc		953
	9,934	*	XPEL, Inc		259
			TOTAL AUTOMOBILES & COMPONENTS		267,761
BANKS - 3.5%
	12,408		1st Source Corp		383
	4,570		ACNB Corp		95
	7,958		Allegiance Bancshares, Inc		186
	9,341		Altabancorp		188
	12,491	*	Amerant Bancorp Inc		116
	5,882		American National Bankshares, Inc		123
	38,500		Ameris Bancorp		877
	7,069		Ames National Corp		119
	8,681		Arrow Financial Corp		218
	48,087		Associated Banc-Corp		607
	14,762	*	Atlantic Capital Bancshares, Inc		168
	42,326		Atlantic Union Bankshares Corp		905
	43,167	*	Axos Financial, Inc		1,006
	31,112		Banc of California, Inc		315
	11,574		Bancfirst Corp		473

265

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	62,103		BancorpSouth Bank	$	1,204
	3,732		Bank First Corp		219
	4,493,415		Bank of America Corp		108,246
	11,787		Bank of Commerce Holdings		82
	23,380		Bank of Hawaii Corp		1,181
	7,728		Bank of Marin Bancorp		224
	13,738		Bank of NT Butterfield & Son Ltd		306
	82,422		Bank OZK		1,757
	12,265		BankFinancial Corp		89
	56,051		BankUnited		1,228
	3,897		Bankwell Financial Group, Inc		55
	23,725		Banner Corp		765
	11,016		Bar Harbor Bankshares		226
	6,936	*	Baycom Corp		71
	7,059		BCB Bancorp, Inc		56
	26,834		Berkshire Hills Bancorp, Inc		271
	8,897	*	Bluegreen Vacations Holding Corp		119
	15,941	e	BOK Financial Corp		821
	59,217		Boston Private Financial Holdings, Inc		327
	13,328		Bridge Bancorp, Inc		232
	54,590		Brookline Bancorp, Inc		472
	12,987		Bryn Mawr Bank Corp		323
	6,436		Business First Bancshares, Inc		97
	5,576	e	Byline Bancorp, Inc		63
	2,353		C&F Financial Corp		70
	65,383		Cadence BanCorp		562
	2,502		Cambridge Bancorp		133
	11,436		Camden National Corp		346
	9,158		Capital City Bank Group, Inc		172
	92,364		Capitol Federal Financial		856
	5,956		Capstar Financial Holdings, Inc		58
	14,623		Carter Bank & Trust		97
	40,414		Cathay General Bancorp		876
	12,633		CBTX, Inc		206
	21,511		Central Pacific Financial Corp		292
	6,214		Central Valley Community Bancorp		77
	2,245		Century Bancorp, Inc		148
	2,189		Chemung Financial Corp		63
	49,642		CIT Group, Inc		879
	1,200,720		Citigroup, Inc		51,763
	9,568		Citizens & Northern Corp		155
	254,905		Citizens Financial Group, Inc		6,444
	10,955		City Holding Co		631
	7,262		Civista Bancshares, Inc		91
	9,772		CNB Financial Corp		145
	6,775		Codorus Valley Bancorp, Inc		89
	51,998		Columbia Banking System, Inc		1,240
	33,673	*	Columbia Financial, Inc		374
	83,206		Comerica, Inc		3,183
	61,969		Commerce Bancshares, Inc		3,488
	35,397		Community Bank System, Inc		1,928
	15,668		Community Bankers Trust Corp		80
	2,846		Community Financial Corp		61
	11,638		Community Trust Bancorp, Inc		329

266

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	21,722		ConnectOne Bancorp, Inc	$	306
	29,153	*,e	CrossFirst Bankshares, Inc		253
	33,515		Cullen/Frost Bankers, Inc		2,143
	19,196	*	Customers Bancorp, Inc		215
	75,634		CVB Financial Corp		1,258
	23,810		Dime Community Bancshares		269
	22,688		Eagle Bancorp, Inc		608
	93,759		East West Bancorp, Inc		3,070
	6,481		Enterprise Bancorp, Inc		136
	16,077		Enterprise Financial Services Corp		438
	7,477	*	Equity Bancshares, Inc		116
	6,121		ESSA Bancorp, Inc		75
	64,560		Essent Group Ltd		2,389
	3,168		Evans Bancorp, Inc		70
	6,654	e	Farmers & Merchants Bancorp, Inc		133
	18,150		Farmers National Banc Corp		198
	13,107		FB Financial Corp		329
	6,481		Federal Agricultural Mortgage Corp (FAMC)		413
	419,394		Fifth Third Bancorp		8,941
	10,211		Financial Institutions, Inc		157
	20,427		First Bancorp (NC)		428
	114,850		First Bancorp (Puerto Rico)		600
	6,485		First Bancorp, Inc		137
	6,018		First Bancshares, Inc		126
	26,747		First Busey Corp		425
	6,176		First Business Financial Services, Inc		88
	3,874		First Citizens Bancshares, Inc (Class A)		1,235
	69,402		First Commonwealth Financial Corp		537
	12,139		First Community Bancshares, Inc		219
	42,129		First Financial Bancorp		506
	76,885		First Financial Bankshares, Inc		2,146
	8,330		First Financial Corp		262
	19,660		First Foundation, Inc		257
	3,324		First Guaranty Bancshares, Inc		40
	71,845		First Hawaiian, Inc		1,040
	308,284		First Horizon National Corp		2,907
	4,089		First Internet Bancorp		60
	18,329		First Interstate Bancsystem, Inc		584
	29,933		First Merchants Corp		693
	7,120		First Mid-Illinois Bancshares, Inc		178
	26,566		First Midwest Bancorp, Inc		286
	7,602		First Northwest Bancorp		75
	15,462		First of Long Island Corp		229
	102,702		First Republic Bank		11,201
	15,789		Flagstar Bancorp, Inc		468
	20,105		Flushing Financial Corp		211
	181,165		FNB Corp		1,228
	84,379		Fulton Financial Corp		787
	14,703		German American Bancorp, Inc		399
	55,696		Glacier Bancorp, Inc		1,785
	7,809		Great Southern Bancorp, Inc		283
	23,192		Great Western Bancorp, Inc		289
	2,003		Greene County Bancorp, Inc		43
	1,224		Guaranty Bancshares, Inc		30

267

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	47,878		Hancock Whitney Corp	$	901
	23,963		Hanmi Financial Corp		197
	16,668		HarborOne Northeast Bancorp, Inc		135
	17,800		Heartland Financial USA, Inc		534
	25,661		Heritage Commerce Corp		171
	22,188		Heritage Financial Corp		408
	54,190		Hilltop Holdings, Inc		1,115
	997		Hingham Institution for Savings		183
	4,264		Home Bancorp, Inc		103
	81,882		Home Bancshares, Inc		1,241
	15,022		HomeStreet, Inc		387
	13,541		HomeTrust Bancshares, Inc		184
	38,615		Hope Bancorp, Inc		293
	23,268		Horizon Bancorp		235
	6,001	*	Howard Bancorp, Inc		54
	617,910		Huntington Bancshares, Inc		5,666
	23,332		Independent Bank Corp (MA)		1,222
	17,558		Independent Bank Corp (MI)		221
	20,253		Independent Bank Group, Inc		895
	40,567		International Bancshares Corp		1,057
	5,550		Investar Holding Corp		71
	133,839		Investors Bancorp, Inc		972
	1,764,409		JPMorgan Chase & Co		169,860
	83,674		Kearny Financial Corp		603
	534,261		Keycorp		6,374
	32,502		Lakeland Bancorp, Inc		323
	18,387		Lakeland Financial Corp		758
	6,780		LCNB Corp		93
	4,628	*,e	LendingTree, Inc		1,420
	14,926		Live Oak Bancshares, Inc		378
	70,925		M&T Bank Corp		6,531
	19,210		Macatawa Bank Corp		125
	12,428		Mercantile Bank Corp		224
	10,918		Merchants Bancorp		215
	35,757		Meridian Bancorp, Inc		370
	20,574		Meta Financial Group, Inc		395
	4,420	*	Metropolitan Bank Holding Corp		124
	210,298		MGIC Investment Corp		1,863
	10,800		Midland States Bancorp, Inc		139
	7,821		MidWestOne Financial Group, Inc		140
	34,360	*	Mr Cooper Group, Inc		767
	19,324		National Bank Holdings Corp		507
	5,351		National Bankshares, Inc		136
	31,726		NBT Bancorp, Inc		851
	262,028		New York Community Bancorp, Inc		2,167
	6,480	*,e	Nicolet Bankshares, Inc		354
	38,864	*	NMI Holdings, Inc		692
	5,235		Northeast Bank		96
	33,024		Northfield Bancorp, Inc		301
	5,019		Northrim BanCorp, Inc		128
	39,220		Northwest Bancshares, Inc		361
	4,425	e	Norwood Financial Corp		108
	30,487		OceanFirst Financial Corp		417
	33,903		OFG Bancorp		422

268

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	3,155	e	Ohio Valley Banc Corp	$	65
	90,192		Old National Bancorp		1,133
	21,667		Old Second Bancorp, Inc		162
	11,057		Origin Bancorp, Inc		236
	5,318		Orrstown Financial Services, Inc		68
	41,564		Pacific Premier Bancorp, Inc		837
	66,007		PacWest Bancorp		1,127
	4,350	e	Park National Corp		357
	4,594		Parke Bancorp, Inc		55
	13,465		PCSB Financial Corp		163
	11,582		Peapack Gladstone Financial Corp		175
	4,446		Penns Woods Bancorp, Inc		88
	27,635		PennyMac Financial Services, Inc		1,606
	3,256		Peoples Bancorp of North Carolina, Inc		50
	12,623		Peoples Bancorp, Inc		241
	5,712		Peoples Financial Services Corp		199
	202,790		People’s United Financial, Inc		2,091
	41,191		Pinnacle Financial Partners, Inc		1,466
	243,339		PNC Financial Services Group, Inc		26,745
	35,642		Popular, Inc		1,293
	8,859		Preferred Bank		285
	8,456		Premier Financial Bancorp, Inc		91
	28,197		Premier Financial Corp		439
	48,715		Prosperity Bancshares, Inc		2,525
	6,589		Provident Bancorp Inc		51
	18,723		Provident Financial Services, Inc		228
	6,101		Prudential Bancorp, Inc		64
	8,729		QCR Holdings, Inc		239
	122,609		Radian Group, Inc		1,791
	9,265		RBB Bancorp		105
	550,925		Regions Financial Corp		6,352
	4,712		Reliant Bancorp Inc		68
	30,881		Renasant Corp		702
	6,104		Republic Bancorp, Inc (Class A)		172
	34,776	*	Republic First Bancorp, Inc		69
	13,238		Riverview Bancorp, Inc		55
	55,288	*,e	Rocket Cos, Inc		1,102
	25,676		S&T Bancorp, Inc		454
	22,606		Sandy Spring Bancorp, Inc		522
	28,631	*	Seacoast Banking Corp of Florida		516
	32,848		ServisFirst Bancshares, Inc		1,118
	8,913		Shore Bancshares, Inc		98
	8,919		Sierra Bancorp		150
	34,007		Signature Bank		2,822
	55,218		Simmons First National Corp (Class A)		875
	5,382		SmartFinancial, Inc		73
	43,651		South State Corp		2,102
	4,079	*	Southern First Bancshares, Inc		99
	4,139		Southern Missouri Bancorp, Inc		98
	8,140		Southern National Bancorp of Virginia, Inc		71
	20,042		Southside Bancshares, Inc		490
	93,752		Sterling Bancorp		986
	11,631		Sterling Bancorp, Inc		35
	16,305		Stock Yards Bancorp, Inc		555

269

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	6,101		Summit Financial Group, Inc	$	90
	30,747	*	SVB Financial Group		7,398
	85,330		Synovus Financial Corp		1,806
	81,693		TCF Financial Corp		1,908
	5,870		Territorial Bancorp, Inc		119
	35,836	*	Texas Capital Bancshares, Inc		1,116
	34,383		TFS Financial Corp		505
	35,393	*	The Bancorp, Inc		306
	4,645		Timberland Bancorp, Inc		84
	10,641		Tompkins Financial Corp		605
	46,422		Towne Bank		761
	19,212		Trico Bancshares		470
	16,178	*	Tristate Capital Holdings, Inc		214
	10,668	*	Triumph Bancorp, Inc		332
	793,167		Truist Financial Corp		30,180
	71,043		Trustco Bank Corp NY		371
	49,168		Trustmark Corp		1,053
	26,057		UMB Financial Corp		1,277
	117,477		Umpqua Holdings Corp		1,248
	83,649		United Bankshares, Inc		1,796
	24,332		United Community Banks, Inc		412
	9,461		United Security Bancshares		58
	5,346		Unity Bancorp, Inc		62
	19,117		Univest Financial Corp		275
	789,290		US Bancorp		28,296
	196,375		Valley National Bancorp		1,345
	22,054		Veritex Holdings, Inc		376
	19,235		Walker & Dunlop, Inc		1,019
	29,442		Washington Federal, Inc		614
	10,818		Washington Trust Bancorp, Inc		332
	19,189		Waterstone Financial, Inc		297
	32,545		Webster Financial Corp		860
	2,178,015		Wells Fargo & Co		51,205
	23,487		WesBanco, Inc		502
	11,970		West Bancorporation, Inc		190
	18,981		Westamerica Bancorporation		1,032
	57,400		Western Alliance Bancorp		1,815
	19,137		Western New England Bancorp, Inc		108
	38,890		Wintrust Financial Corp		1,558
	37,123		WSFS Financial Corp		1,001
	106,318		Zions Bancorporation		3,107
			TOTAL BANKS		673,497
CAPITAL GOODS - 5.8%
	328,034		3M Co		52,544
	69,666		A.O. Smith Corp		3,678
	21,498		Aaon, Inc		1,295
	23,226		AAR Corp		437
	24,498		Acuity Brands, Inc		2,507
	24,758		Advanced Drainage Systems, Inc		1,546
	93,206	*	Aecom Technology Corp		3,900
	24,436	*	Aegion Corp		345
	39,078	*	Aerojet Rocketdyne Holdings, Inc		1,559
	14,335	*	Aerovironment, Inc		860

270

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	32,215		AGCO Corp	$	2,393
	56,080		Air Lease Corp		1,650
	6,904		Alamo Group, Inc		746
	21,082		Albany International Corp (Class A)		1,044
	53,164		Allegion plc		5,258
	4,493		Allied Motion Technologies, Inc		185
	51,690		Allison Transmission Holdings, Inc		1,816
	41,492		Altra Industrial Motion Corp		1,534
	13,776	*,e	Ameresco, Inc		460
	10,171	*	American Woodmark Corp		799
	129,674		Ametek, Inc		12,890
	4,581		Apogee Enterprises, Inc		98
	27,154		Applied Industrial Technologies, Inc		1,496
	30,718		Arcosa, Inc		1,354
	10,471		Argan, Inc		439
	26,334		Armstrong World Industries, Inc		1,812
	15,250		Astec Industries, Inc		827
	15,755	*	Astronics Corp		122
	23,836	*	Atkore International Group, Inc		542
	35,579	*	Axon Enterprise, Inc		3,227
	23,304	*	AZEK Co, Inc		811
	19,364		AZZ, Inc		661
	25,595		Barnes Group, Inc		915
	41,684	*	Beacon Roofing Supply, Inc		1,295
	35,611	*,e	Bloom Energy Corp		640
	3,946	*	Blue Bird Corp		48
	47,040	*	BMC Stock Holdings, Inc		2,015
	311,466		Boeing Co		51,473
	67,070	*	Builders FirstSource, Inc		2,188
	56,807		BWX Technologies, Inc		3,199
	14,163		Caesarstone Sdot-Yam Ltd		139
	8,775		CAI International, Inc		242
	27,634		Carlisle Cos, Inc		3,382
	496,807		Carrier Global Corp		15,172
	316,101		Caterpillar, Inc		47,146
	22,344	*	Chart Industries, Inc		1,570
	12,045	*	CIRCOR International, Inc		329
	64,286	*	Colfax Corp		2,016
	14,727	e	Columbus McKinnon Corp		487
	24,840		Comfort Systems USA, Inc		1,280
	11,212	*	Construction Partners Inc		204
	29,151	*	Cornerstone Building Brands, Inc		233
	18,926		Crane Co		949
	10,574		CSW Industrials, Inc		817
	18,660		Cubic Corp		1,085
	84,848		Cummins, Inc		17,917
	22,308		Curtiss-Wright Corp		2,080
	163,197		Deere & Co		36,169
	71,161		Donaldson Co, Inc		3,303
	16,771	e	Douglas Dynamics, Inc		574
	80,236		Dover Corp		8,693
	8,048	*	Ducommun, Inc		265
	11,117	*	DXP Enterprises, Inc		179
	16,954	*	Dycom Industries, Inc		896

271

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	3,733		Eastern Co	$	73
	233,375		Eaton Corp		23,811
	28,208		EMCOR Group, Inc		1,910
	345,535		Emerson Electric Co		22,657
	15,305		Encore Wire Corp		710
	24,905	*	Energy Recovery, Inc		204
	43,959		Enerpac Tool Group Corp		827
	25,301		EnerSys		1,698
	8,505		EnPro Industries, Inc		480
	13,003		ESCO Technologies, Inc		1,048
	2,576	e	EVI Industries, Inc		69
	51,314	*	Evoqua Water Technologies Corp		1,089
	332,215		Fastenal Co		14,980
	42,557		Federal Signal Corp		1,245
	82,555		Flowserve Corp		2,253
	91,070		Fluor Corp		802
	175,635		Fortive Corp		13,385
	82,435		Fortune Brands Home & Security, Inc		7,132
	9,256	*	Foundation Building Materials, Inc		146
	25,145		Franklin Electric Co, Inc		1,479
	126,698	*,e	FuelCell Energy, Inc		271
	30,738	*	Gates Industrial Corp plc		342
	15,077	e	GATX Corp		961
	4,980	*	Gencor Industries, Inc		55
	36,885	*	Generac Holdings, Inc		7,142
	146,493		General Dynamics Corp		20,279
	5,105,859		General Electric Co		31,810
	22,869	*	Gibraltar Industries, Inc		1,490
	17,148	*	GMS, Inc		413
	2,315	e	Gorman-Rupp Co		68
	92,773		Graco, Inc		5,692
	26,067		GrafTech International Ltd		178
	7,763		Graham Corp		99
	33,088	e	Granite Construction, Inc		583
	44,924	*	Great Lakes Dredge & Dock Corp		427
	19,838		Greenbrier Cos, Inc		583
	20,793		Griffon Corp		406
	23,777		H&E Equipment Services, Inc		467
	59,172	*	Harsco Corp		823
	90,220	*	HD Supply Holdings, Inc		3,721
	26,390		HEICO Corp		2,762
	46,469		HEICO Corp (Class A)		4,120
	16,194		Helios Technologies, Inc		589
	17,889	*	Herc Holdings, Inc		709
	57,257		Hexcel Corp		1,921
	34,596		Hillenbrand, Inc		981
	406,953		Honeywell International, Inc		66,989
	229,339		Howmet Aerospace, Inc		3,835
	30,217		Hubbell, Inc		4,135
	23,249		Huntington Ingalls		3,272
	4,796		Hurco Cos, Inc		136
	7,224	e	Hyster-Yale Materials Handling, Inc		268
	41,386		IDEX Corp		7,549
	5,334	*	IES Holdings, Inc		169

272

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	182,538		Illinois Tool Works, Inc	$	35,268
	201,626	*	Ingersoll Rand, Inc		7,178
	13,472		Insteel Industries, Inc		252
	46,862		ITT, Inc		2,767
	68,282		Jacobs Engineering Group, Inc		6,335
	47,393	*	JELD-WEN Holding, Inc		1,071
	16,888		John Bean Technologies Corp		1,552
	431,464		Johnson Controls International plc		17,625
	8,084		Kadant, Inc		886
	7,065		Kaman Corp		275
	56,290		Kennametal, Inc		1,629
	50,983	*	Kratos Defense & Security Solutions, Inc		983
	125,689		L3Harris Technologies, Inc		21,347
	4,456	*	Lawson Products, Inc		183
	5,677	*	LB Foster Co (Class A)		76
	20,121		Lennox International, Inc		5,485
	27,531		Lincoln Electric Holdings, Inc		2,534
	7,273		Lindsay Corp		703
	144,026		Lockheed Martin Corp		55,202
	17,575		Luxfer Holdings plc		221
	12,223	*	Lydall, Inc		202
	22,630	*	Manitowoc Co, Inc		190
	151,526		Masco Corp		8,354
	18,516	*	Masonite International Corp		1,822
	38,304	*,e	Mastec, Inc		1,616
	38,365		Maxar Technologies, Inc		957
	25,978	*	Mercury Systems, Inc		2,012
	34,734	*	Meritor, Inc		727
	30,281	*	Middleby Corp		2,717
	7,280		Miller Industries, Inc		223
	15,909		Moog, Inc (Class A)		1,011
	64,419	*	MRC Global, Inc		276
	25,456		MSC Industrial Direct Co (Class A)		1,611
	40,743		Mueller Industries, Inc		1,103
	66,266		Mueller Water Products, Inc (Class A)		689
	10,993	*	MYR Group, Inc		409
	3,534		National Presto Industries, Inc		289
	35,673	*	Navistar International Corp		1,553
	19,066	*	NN, Inc		98
	33,227		Nordson Corp		6,374
	90,139		Northrop Grumman Corp		28,438
	6,891	*	Northwest Pipe Co		182
	78,206	*	NOW, Inc		355
	5,211	*	NV5 Global Inc		275
	87,536		nVent Electric plc		1,549
	2,354	e	Omega Flex, Inc		369
	38,204		Oshkosh Corp		2,808
	231,043		Otis Worldwide Corp		14,422
	56,584		Owens Corning, Inc		3,894
	195,107		PACCAR, Inc		16,639
	35,158	*	PAE, Inc		299
	14,228		Park Aerospace Corp		155
	76,478		Parker-Hannifin Corp		15,475
	12,058	*	Parsons Corp		404

273

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	17,097		Patrick Industries, Inc	$	983
	96,376		Pentair plc		4,411
	36,380	*	PGT, Inc		637
	159,236	*,e	Plug Power, Inc		2,135
	7,077		Powell Industries, Inc		171
	1,801		Preformed Line Products Co		88
	28,783		Primoris Services Corp		519
	18,284	*	Proto Labs, Inc		2,368
	25,291		Quanex Building Products Corp		466
	75,730		Quanta Services, Inc		4,003
	25,955		Raven Industries, Inc		559
	837,096		Raytheon Technologies Corp		48,167
	16,634	*	RBC Bearings, Inc		2,016
	20,978	e	Regal-Beloit Corp		1,969
	82,950	*	Resideo Technologies, Inc		912
	8,757		REV Group, Inc		69
	56,852		Rexnord Corp		1,696
	67,253		Rockwell Automation, Inc		14,841
	60,494		Roper Technologies Inc		23,902
	21,510		Rush Enterprises, Inc (Class A)		1,087
	4,597		Rush Enterprises, Inc (Class B)		204
	88,808	*	Sensata Technologies Holding plc		3,831
	24,709		Shyft Group, Inc		467
	29,530		Simpson Manufacturing Co, Inc		2,869
	24,415	*	SiteOne Landscape Supply, Inc		2,977
	30,839		Snap-On, Inc		4,537
	41,377		Spirit Aerosystems Holdings, Inc (Class A)		782
	30,406	*	SPX Corp		1,410
	29,148	*	SPX FLOW, Inc		1,248
	8,333		Standex International Corp		493
	88,647		Stanley Black & Decker, Inc		14,379
	18,886	*	Sterling Construction Co, Inc		267
	60,603	*	Sunrun, Inc		4,671
	9,938		Systemax, Inc		238
	20,977	*	Teledyne Technologies, Inc		6,507
	12,744		Tennant Co		769
	35,787		Terex Corp		693
	18,852	*,e	Textainer Group Holdings Ltd		267
	143,403		Textron, Inc		5,175
	24,419	*	Thermon Group Holdings		274
	30,037		Timken Co		1,629
	11,613	*	Titan Machinery, Inc		154
	55,598		Toro Co		4,667
	7,431	*	TPI Composites, Inc		215
	140,813		Trane Technologies plc		17,074
	31,276		TransDigm Group, Inc		14,860
	70,402	*	Trex Co, Inc		5,041
	34,233	*	Trimas Corp		781
	63,620		Trinity Industries, Inc		1,241
	18,886		Triton International Ltd		768
	32,779		Triumph Group, Inc		213
	27,269	*	Tutor Perini Corp		304
	41,346	*	United Rentals, Inc		7,215
	107,143	*	Univar Solutions Inc		1,809

274

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	10,628		Valmont Industries, Inc	$	1,320
	7,860	*	Vectrus, Inc		299
	7,828	*	Veritiv Corp		99
	119,277	*	Vertiv Holdings Co		2,066
	12,845	*	Vicor Corp		998
	36,030	*,e	Virgin Galactic Holdings, Inc		693
	15,334	*,e	Vivint Solar, Inc		649
	25,541		W.W. Grainger, Inc		9,112
	42,603	e	Wabash National Corp		510
	99,754		Wabtec Corp		6,173
	18,257		Watsco, Inc		4,252
	12,563		Watts Water Technologies, Inc (Class A)		1,258
	88,290	*	Welbilt, Inc		544
	28,009	*	WESCO International, Inc		1,233
	3,392	*	Willis Lease Finance Corp		63
	98,203	*	WillScot Mobile Mini Holdings Corp		1,638
	30,482		Woodward Inc		2,443
	98,686		Xylem, Inc		8,301
			TOTAL CAPITAL GOODS		1,124,726
COMMERCIAL & PROFESSIONAL SERVICES - 1.1%
	40,285		ABM Industries, Inc		1,477
	37,820	*	Acacia Research (Acacia Technologies)		131
	9,390		ACCO Brands Corp		54
	66,939		ADT, Inc		547
	24,977	*	Advanced Disposal Services, Inc		755
	83,309	*,g	API Group Corp		1,185
	27,574	*	ASGN Inc		1,753
	5,145		Barrett Business Services, Inc		270
	4,266		BG Staffing, Inc		36
	22,496		Brady Corp (Class A)		900
	16,522	*	BrightView Holdings, Inc		188
	33,001	e	Brink’s Co		1,356
	29,675	*	Casella Waste Systems, Inc (Class A)		1,657
	35,493	*	CBIZ, Inc		812
	18,496	*,e	Ceco Environmental Corp		135
	8,021	*	Cimpress plc		603
	51,020		Cintas Corp		16,981
	30,748	*	Clean Harbors, Inc		1,723
	116,214	*	Copart, Inc		12,221
	21,937	*	CoStar Group, Inc		18,614
	84,474		Covanta Holding Corp		655
	7,013		CRA International, Inc		263
	27,694		Deluxe Corp		713
	49,788	*	Dun & Bradstreet Holdings, Inc		1,278
	11,002		Emerald Holding, Inc		22
	20,052		Ennis, Inc		350
	69,309		Equifax, Inc		10,875
	29,463		Exponent, Inc		2,122
	7,582	*	Forrester Research, Inc		249
	7,620	*	Franklin Covey Co		135
	21,634	*	FTI Consulting, Inc		2,293
	9,864	*	GP Strategies Corp		95
	49,914		Healthcare Services Group		1,075

275

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	14,300		Heidrick & Struggles International, Inc	$	281
	8,893	*	Heritage-Crystal Clean, Inc		119
	28,968		Herman Miller, Inc		874
	31,637		HNI Corp		993
	15,850	*	Huron Consulting Group, Inc		623
	78,470	*	IAA, Inc		4,086
	13,124		ICF International, Inc		808
	227,325		IHS Markit Ltd		17,847
	25,976		Insperity, Inc		1,701
	44,581		Interface, Inc		273
	88,200		KAR Auction Services, Inc		1,270
	20,372		Kelly Services, Inc (Class A)		347
	18,302		Kforce, Inc		589
	25,171		Kimball International, Inc (Class B)		265
	35,963		Knoll, Inc		434
	37,013		Korn/Ferry International		1,073
	31,415		Manpower, Inc		2,304
	22,585		Matthews International Corp (Class A)		505
	10,506		McGrath RentCorp		626
	13,300	*	Mistras Group, Inc		52
	19,573	e	MSA Safety, Inc		2,626
	219,281		Nielsen NV		3,109
	4,961		NL Industries, Inc		21
	133,127		Pitney Bowes, Inc		707
	39,456	*,e	Precigen, Inc		138
	21,796		Quad Graphics, Inc		66
	117,504		Republic Services, Inc		10,969
	20,546		Resources Connection, Inc		237
	69,302		Robert Half International, Inc		3,669
	85,209		Rollins, Inc		4,617
	12,140	*	SP Plus Corp		218
	61,807		Steelcase, Inc (Class A)		625
	49,051	*	Stericycle, Inc		3,093
	20,907	*	Team, Inc		115
	29,513		Tetra Tech, Inc		2,818
	109,499		TransUnion		9,212
	22,121	*	TriNet Group, Inc		1,312
	346	*	TrueBlue, Inc		5
	8,983		Unifirst Corp		1,701
	16,280		US Ecology, Inc		532
	91,507		Verisk Analytics, Inc		16,957
	15,178		Viad Corp		316
	41,530	*	Vivint Smart Home, Inc		709
	5,586		VSE Corp		171
	247,279		Waste Management, Inc		27,985
	5,398	*,e	Willdan Group, Inc		138
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		208,659
CONSUMER DURABLES & APPAREL - 1.5%
	15,286		Acushnet Holdings Corp		514
	9,880	*	American Outdoor Brands, Inc		129
	21,459	*,e	Beazer Homes USA, Inc		283
	44,121		Brunswick Corp		2,599
	69,841		Callaway Golf Co		1,337

276

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	68,422	*	Capri Holdings Ltd	$	1,232
	27,877		Carter’s, Inc		2,414
	6,102	*	Cavco Industries, Inc		1,100
	13,611	*	Century Communities, Inc		576
	14,289		Clarus Corp		202
	13,474		Columbia Sportswear Co		1,172
	45,716	*	CROCS, Inc		1,953
	16,069	*	Deckers Outdoor Corp		3,535
	188,748		DR Horton, Inc		14,275
	7,865		Escalade, Inc		144
	18,783		Ethan Allen Interiors, Inc		254
	31,215	*	Fossil Group, Inc		179
	82,696	*	Garmin Ltd		7,845
	4,831	*	G-III Apparel Group Ltd		63
	74,136	*	GoPro, Inc		336
	16,535	*	Green Brick Partners, Inc		266
	6,360	e	Hamilton Beach Brands Holding Co		124
	201,239		Hanesbrands, Inc		3,170
	72,105		Hasbro, Inc		5,965
	15,207	*	Helen of Troy Ltd		2,943
	7,913		Hooker Furniture Corp		204
	13,822	*	Installed Building Products, Inc		1,406
	18,443	*,e	iRobot Corp		1,400
	3,583		Johnson Outdoors, Inc		293
	60,650		KB Home		2,328
	30,075		Kontoor Brands, Inc		728
	36,137		La-Z-Boy, Inc		1,143
	78,980		Leggett & Platt, Inc		3,252
	154,377		Lennar Corp (Class A)		12,609
	541		Lennar Corp (Class B)		36
	12,635	*	LGI Homes, Inc		1,468
	7,210		Lifetime Brands, Inc		68
	66,278	*	Lululemon Athletica, Inc		21,830
	16,714	*	M/I Homes, Inc		770
	13,092	*	Malibu Boats, Inc		649
	8,407		Marine Products Corp		131
	13,690	*	MasterCraft Boat Holdings, Inc		239
	199,106	*	Mattel, Inc		2,330
	30,198		MDC Holdings, Inc		1,422
	22,102	*	Meritage Homes Corp		2,440
	31,434	*	Mohawk Industries, Inc		3,068
	11,320		Movado Group, Inc		113
	3,180		Nacco Industries, Inc (Class A)		58
	17,631	*	Nautilus, Inc		303
	207,669		Newell Brands Inc		3,564
	704,575		Nike, Inc (Class B)		88,452
	1,853	*	NVR, Inc		7,566
	11,750		Oxford Industries, Inc		474
	56,689	*	Peloton Interactive, Inc		5,626
	32,179		Polaris Inc		3,036
	157,608		Pulte Homes, Inc		7,296
	8,506	*	Purple Innovation, Inc		211
	40,092		PVH Corp		2,391
	30,697		Ralph Lauren Corp		2,086

277

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	79,579	*	Skechers U.S.A., Inc (Class A)	$	2,405
	32,514	*	Skyline Champion Corp		870
	39,523		Smith & Wesson Brands, Inc		613
	45,047	*	Sonos, Inc		684
	60,523		Steven Madden Ltd		1,180
	12,383		Sturm Ruger & Co, Inc		757
	5,163		Superior Uniform Group, Inc		120
	144,360		Tapestry, Inc		2,256
	67,492	*	Taylor Morrison Home Corp		1,660
	26,761	*	Tempur Sealy International, Inc		2,387
	69,223		Toll Brothers, Inc		3,368
	20,867	*	TopBuild Corp		3,562
	65,578	*	TRI Pointe Homes, Inc		1,190
	28,980		Tupperware Brands Corp		584
	110,698	*	Under Armour, Inc (Class A)		1,243
	110,542	*	Under Armour, Inc (Class C)		1,088
	10,905	*	Unifi, Inc		140
	10,485	*	Universal Electronics, Inc		396
	16,444	*	Vera Bradley, Inc		100
	193,170		VF Corp		13,570
	41,550	*	Vista Outdoor, Inc		838
	34,621		Whirlpool Corp		6,366
	48,726	e	Wolverine World Wide, Inc		1,259
	44,122	*	YETI Holdings, Inc		2,000
			TOTAL CONSUMER DURABLES & APPAREL		280,236
CONSUMER SERVICES - 1.9%
	25,118	*,e	Accel Entertainment, Inc		269
	33,727	*	Adtalem Global Education, Inc		828
	12,233	*	American Public Education, Inc		345
	143,934		ARAMARK Holdings Corp		3,807
	769	*	Biglari Holdings, Inc (B Shares)		68
	15,173		BJ’s Restaurants, Inc		447
	44,145		Bloomin’ Brands, Inc		674
	61,116		Boyd Gaming Corp		1,876
	36,213	*	Bright Horizons Family Solutions		5,506
	25,489		Brinker International, Inc		1,089
	80,138	*	Caesars Entertainment, Inc		4,492
	243,870		Carnival Corp		3,702
	11,838		Carriage Services, Inc		264
	27,792	*	Carrols Restaurant Group, Inc		179
	16,727	*	Century Casinos, Inc		92
	31,824	e	Cheesecake Factory		883
	72,467	*	Chegg, Inc		5,177
	16,253	*	Chipotle Mexican Grill, Inc (Class A)		20,214
	17,380	e	Choice Hotels International, Inc		1,494
	20,586		Churchill Downs, Inc		3,372
	12,474	*	Chuy’s Holdings, Inc		244
	5,424		Collectors Universe		268
	15,120		Cracker Barrel Old Country Store, Inc		1,734
	77,856		Darden Restaurants, Inc		7,843
	16,608	e	Dave & Buster’s Entertainment, Inc		252
	23,487	*	Del Taco Restaurants, Inc		193
	41,277	*	Denny’s Corp		413

278

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	10,362		Dine Brands Global Inc.	$	566
	21,807		Domino’s Pizza, Inc		9,274
	43,173		Dunkin Brands Group, Inc		3,536
	14,501	*	El Pollo Loco Holdings, Inc		235
	45,885	*	Everi Holdings, Inc		378
	105,919		Extended Stay America, Inc		1,266
	20,469	*	Fiesta Restaurant Group, Inc		192
	11,421		Franchise Group, Inc		290
	54,509	*	frontdoor, Inc		2,121
	7,389	*	Golden Entertainment, Inc		102
	1,652		Graham Holdings Co		668
	26,419	*	Grand Canyon Education, Inc		2,112
	98,961		H&R Block, Inc		1,612
	49,665	*	Hilton Grand Vacations, Inc		1,042
	163,465		Hilton Worldwide Holdings, Inc		13,947
	76,812	*	Houghton Mifflin Harcourt Co		133
	24,452		Hyatt Hotels Corp		1,305
	76,027	e	International Game Technology plc		846
	14,716	e	Jack in the Box, Inc		1,167
	26,055	*	K12, Inc		686
	189,050		Las Vegas Sands Corp		8,821
	62,559	*	Laureate Education, Inc		831
	10,890	*	Lindblad Expeditions Holdings, Inc		93
	160,967		Marriott International, Inc (Class A)		14,902
	24,090		Marriott Vacations Worldwide Corp		2,188
	432,601		McDonald’s Corp		94,952
	281,649		MGM Resorts International		6,126
	7,140	*	Monarch Casino & Resort, Inc		318
	2,378		Nathan’s Famous, Inc		122
	8,091	*	Noodles & Co		56
	153,189	*,e	Norwegian Cruise Line Holdings Ltd		2,621
	29,338	e	OneSpaWorld Holdings Ltd		191
	18,811		Papa John’s International, Inc		1,548
	76,441	*,e	Penn National Gaming, Inc		5,557
	46,334	*	Perdoceo Education Corp		567
	51,866	*	Planet Fitness, Inc		3,196
	10,854	*	PlayAGS, Inc		38
	6,547	e	RCI Hospitality Holdings, Inc		133
	9,211	*,e	Red Robin Gourmet Burgers, Inc		121
	5,884		Red Rock Resorts, Inc		101
	27,109	*,e	Regis Corp		166
	106,238		Royal Caribbean Cruises Ltd		6,877
	21,790		Ruth’s Hospitality Group Inc		241
	37,197	*	Scientific Games Corp (Class A)		1,298
	30,308	*	SeaWorld Entertainment, Inc		598
	95,406		Service Corp International		4,024
	15,620	*,e	Shake Shack, Inc		1,007
	48,601		Six Flags Entertainment Corp		987
	679,843		Starbucks Corp		58,412
	11,328		Strategic Education, Inc		1,036
	21,327	*	Target Hospitality Corp		26
	86,396	*	Terminix Global Holdings, Inc		3,445
	40,109	e	Texas Roadhouse, Inc (Class A)		2,438
	13,497	e	Twin River Worldwide Holdings Inc		354

279

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	23,348		Vail Resorts, Inc	$	4,996
	107,288		Wendy’s		2,392
	17,626		Wingstop, Inc		2,409
	26,120	*	WW International Inc		493
	42,519		Wyndham Destinations, Inc		1,308
	58,768		Wyndham Hotels & Resorts, Inc		2,968
	58,587		Wynn Resorts Ltd		4,207
	221,986		Yum China Holdings, Inc		11,754
	172,373		Yum! Brands, Inc		15,738
			TOTAL CONSUMER SERVICES		376,859
DIVERSIFIED FINANCIALS - 3.2%
	24,496		Affiliated Managers Group, Inc		1,675
	341,429		AGNC Investment Corp		4,749
	8,948		Alerus Financial Corp		175
	234,210		Ally Financial, Inc		5,872
	379,661		American Express Co		38,061
	69,686		Ameriprise Financial, Inc		10,739
	885,022		Annaly Capital Management, Inc		6,301
	70,479		Anworth Mortgage Asset Corp		116
	68,911		Apollo Commercial Real Estate Finance, Inc		621
	102,107		Apollo Global Management, Inc		4,569
	61,262	e	Arbor Realty Trust, Inc		703
	22,112		Ares Commercial Real Estate Corp		202
	58,699		Ares Management Corp		2,373
	16,506	e	Arlington Asset Investment Corp (Class A)		47
	26,163		ARMOUR Residential REIT, Inc		249
	32,135		Artisan Partners Asset Management, Inc		1,253
	8,796	*	Assetmark Financial Holdings, Inc		191
	4,316		Associated Capital Group, Inc		156
	10,240		B. Riley Financial, Inc		257
	21,466		Banco Latinoamericano de Exportaciones S.A. (Class E)		261
	462,983		Bank of New York Mellon Corp		15,899
	166,153		BGC Partners, Inc (Class A)		399
	85,115		BlackRock, Inc		47,967
	73,790	e	Blackstone Mortgage Trust, Inc		1,621
	30,473	*	Blucora, Inc		287
	40,173		Brightsphere Investment Group, Inc		518
	76,557	e	Broadmark Realty Capital, Inc		755
	16,951	*,†	Calamos Asset Management, Inc		0
	48,331	*	Cannae Holdings, Inc		1,801
	267,933		Capital One Financial Corp		19,254
	71,072		Capstead Mortgage Corp		399
	69,672		Carlyle Group, Inc		1,719
	68,387		CBOE Global Markets, Inc		6,000
	668,522		Charles Schwab Corp		24,221
	7,464		Cherry Hill Mortgage Investment Corp		67
	94,757		Chimera Investment Corp		777
	207,704		CME Group, Inc		34,751
	15,440		Cohen & Steers, Inc		861
	7,402		Colony Credit Real Estate, Inc		36
	18,127		Cowen Group, Inc		295
	6,049	*,e	Credit Acceptance Corp		2,048
	7,834	e	Curo Group Holdings Corp		55

280

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	2,179		Diamond Hill Investment Group, Inc	$	275
	185,611		Discover Financial Services		10,725
	19,156	*	Donnelley Financial Solutions, Inc		256
	11,107	e	Dynex Capital, Inc		169
	123,250		E*TRADE Financial Corp		6,169
	64,523		Eaton Vance Corp		2,462
	17,423		Ellington Financial Inc		214
	17,368	*,e	Encore Capital Group, Inc		670
	23,911	*	Enova International, Inc		392
	210,922		Equitable Holdings, Inc		3,847
	29,096		Evercore Inc		1,905
	38,445	*	Ezcorp, Inc (Class A)		193
	21,287		Factset Research Systems, Inc		7,129
	68,886		Federated Investors, Inc (Class B)		1,482
	24,222		FirstCash, Inc		1,386
	12,579	*	Focus Financial Partners, Inc		412
	162,178		Franklin Resources, Inc		3,300
	4,049		GAMCO Investors, Inc (Class A)		47
	190,113		Goldman Sachs Group, Inc		38,207
	31,227	e	Granite Point Mortgage Trust, Inc		221
	9,250		Great Ajax Corp		77
	33,057	*	Green Dot Corp		1,673
	19,893		Greenhill & Co, Inc		226
	10,099		Hamilton Lane, Inc		652
	35,286		Hannon Armstrong Sustainable Infrastructure Capital, Inc		1,491
	25,893		Houlihan Lokey, Inc		1,529
	47,028		Interactive Brokers Group, Inc (Class A)		2,273
	312,004		Intercontinental Exchange Group, Inc		31,216
	173,085		Invesco Ltd		1,975
	100,745	e	Invesco Mortgage Capital, Inc		273
	149,295		Jefferies Financial Group, Inc		2,687
	305,123		KKR & Co, Inc		10,478
	7,773	e	KKR Real Estate Finance Trust, Inc		128
	49,932		Ladder Capital Corp		355
	61,713		Lazard Ltd (Class A)		2,040
	42,896	*,e	LendingClub Corp		202
	49,263		LPL Financial Holdings, Inc		3,777
	22,099		MarketAxess Holdings, Inc		10,643
	6,533		Marlin Business Services Corp		46
	270,747		MFA Financial Inc		726
	26,390		Moelis & Co		927
	93,705		Moody’s Corp		27,160
	637,901		Morgan Stanley		30,842
	9,849		Morningstar, Inc		1,582
	47,531		MSCI, Inc (Class A)		16,958
	66,042		Nasdaq Inc		8,104
	72,560		Navient Corp		613
	14,990		Nelnet, Inc (Class A)		903
	231,837		New Residential Investment Corp		1,843
	225,109		New York Mortgage Trust, Inc		574
	22,218	*,†	NewStar Financial, Inc		5
	107,408		Northern Trust Corp		8,375
	37,084		OneMain Holdings, Inc		1,159
	11,565	*	Oportun Financial Corp		136

281

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	7,363		Oppenheimer Holdings, Inc	$	164
	23,694		Orchid Island Capital, Inc		119
	47,765		PennyMac Mortgage Investment Trust		768
	17,372	*	Pico Holdings, Inc		156
	10,272		Piper Jaffray Cos		750
	13,025		PJT Partners, Inc		789
	33,753	*	PRA Group, Inc		1,348
	9,591		Pzena Investment Management, Inc (Class A)		51
	66,436		Raymond James Financial, Inc		4,834
	11,012		Ready Capital Corp		123
	49,700		Redwood Trust, Inc		374
	8,577	*	Regional Management Corp		143
	139,405		S&P Global, Inc		50,269
	16,951		Safeguard Scientifics, Inc		93
	57,054		Santander Consumer USA Holdings, Inc		1,038
	10,879		Sculptor Capital Management, Inc		128
	58,985		SEI Investments Co		2,992
	5,338		Silvercrest Asset Management Group, Inc		56
	211,103		SLM Corp		1,708
	153,692		Starwood Property Trust, Inc		2,319
	202,294		State Street Corp		12,002
	38,350		Stifel Financial Corp		1,939
	11,369	*	StoneX Group, Inc		582
	348,966		Synchrony Financial		9,132
	131,257		T Rowe Price Group, Inc		16,830
	142,397		TD Ameritrade Holding Corp		5,575
	7,897		TPG RE Finance Trust, Inc		67
	49,135		Tradeweb Markets, Inc		2,850
	174,270		Two Harbors Investment Corp		887
	37,412		Virtu Financial, Inc		861
	4,800		Virtus Investment Partners, Inc		665
	74,871		Voya Financial, Inc		3,589
	22,709		Waddell & Reed Financial, Inc (Class A)		337
	28,538	e	Western Asset Mortgage Capital Corp		58
	5,409		Westwood Holdings Group, Inc		60
	84,317		WisdomTree Investments, Inc		270
	4,248	*,e	World Acceptance Corp		448
			TOTAL DIVERSIFIED FINANCIALS		613,783
ENERGY - 1.9%
	146,439		Antero Midstream Corp		786
	132,421	*,e	Antero Resources Corp		364
	241,520		Apache Corp		2,287
	9,586	*	Arch Resources, Inc		407
	85,865		Archrock, Inc		462
	20,832		Ardmore Shipping Corp		74
	372,296		Baker Hughes Co		4,948
	36,376		Berry Petroleum Co LLC		115
	14,562	*	Bonanza Creek Energy, Inc		274
	10,396		Brigham Minerals, Inc		93
	4,788	*	Bristow Group, Inc		102
	217,282		Cabot Oil & Gas Corp		3,772
	16,011		Cactus, Inc		307
	110,556	*	ChampionX Corp		883

282

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	138,494	*	Cheniere Energy, Inc	$	6,408
	1,086,870		Chevron Corp		78,255
	49,611		Cimarex Energy Co		1,207
	96,211	*	Clean Energy Fuels Corp		239
	64,119	*	CNX Resources Corp		605
	109,609		Concho Resources, Inc		4,836
	630,219		ConocoPhillips		20,696
	20,666	*,e	CONSOL Energy, Inc		92
	53,393	*,e	Contango Oil & Gas Co		72
	32,957	e	Continental Resources, Inc		405
	11,149		CVR Energy, Inc		138
	26,329		Delek US Holdings, Inc		293
	242,317	*	Devon Energy Corp		2,292
	55,111		DHT Holdings, Inc		284
	14,000	*	Diamond S Shipping Inc		96
	92,205		Diamondback Energy, Inc		2,777
	9,586		DMC Global, Inc		316
	20,589	*	Dorian LPG Ltd		165
	27,635	*	Dril-Quip, Inc		684
	7,121	*	Earthstone Energy, Inc		18
	155,692	e	EnCana Corp		1,270
	56,201	*,e	Energy Fuels, Inc		94
	335,801		EOG Resources, Inc		12,069
	153,612		EQT Corp		1,986
	246,829		Equitrans Midstream Corp		2,088
	17,517		Evolution Petroleum Corp		39
	23,313	*	Exterran Corp		97
	2,469,942	d	Exxon Mobil Corp		84,793
	24,885		Falcon Minerals Corp		61
	36,662	*	Frank’s International NV		56
	70,150	e	Frontline Ltd		456
	69,477	*	Golar LNG Ltd		421
	26,945	*,e	Green Plains Inc		417
	109,431	*	Gulfport Energy Corp		58
	533,070		Halliburton Co		6,424
	100,808	*	Helix Energy Solutions Group, Inc		243
	52,744		Helmerich & Payne, Inc		773
	170,660		Hess Corp		6,985
	97,848		HollyFrontier Corp		1,929
	20,967		International Seaways, Inc		306
	1,120,745		Kinder Morgan, Inc		13,819
	234,852		Kosmos Energy Ltd		229
	9,873		Liberty Oilfield Services, Inc		79
	65,268	*	Magnolia Oil & Gas Corp		337
	503,108		Marathon Oil Corp		2,058
	387,559		Marathon Petroleum Corp		11,371
	64,577	*	Matador Resources Co		533
	19,934	*	Matrix Service Co		166
	4,077	*	Montage Resources Corp		18
	86,947		Murphy Oil Corp		776
	4,061	e	Nabors Industries Ltd		99
	256,371		National Oilwell Varco, Inc		2,323
	63,344	*	Newpark Resources, Inc		67
	76,759	*	NexTier Oilfield Solutions, Inc		142

283

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	284,931		Noble Energy, Inc	$	2,436
	68,002		Nordic American Tankers Ltd		237
	468,293		Occidental Petroleum Corp		4,688
	71,446	*	Oceaneering International, Inc		252
	38,178	*	Oil States International, Inc		104
	254,378		ONEOK, Inc		6,609
	26,237	*	Overseas Shipholding Group, Inc		56
	23,180	*	Par Pacific Holdings, Inc		157
	177,587	e	Parsley Energy, Inc		1,662
	150,779		Patterson-UTI Energy, Inc		430
	14,770		PBF Energy, Inc		84
	44,499	*	PDC Energy, Inc		552
	54,624		Peabody Energy Corp		126
	10,090	*,e	Penn Virginia Corp		99
	261,435		Phillips 66		13,553
	93,446		Pioneer Natural Resources Co		8,035
	48,018	*	ProPetro Holding Corp		195
	139,657		Range Resources Corp		925
	10,017	*,e	Renewable Energy Group, Inc		535
	4,186	*	Rex American Resources Corp		275
	42,512	*	RPC, Inc		112
	832,069		Schlumberger Ltd		12,947
	12,739	e	Scorpio Tankers, Inc		141
	11,768	*	SEACOR Holdings, Inc		342
	6,869	*	Select Energy Services, Inc		26
	45,041		SFL Corp Ltd		337
	80,594		SM Energy Co		128
	6,855		Solaris Oilfield Infrastructure, Inc		44
	264,381	*	Southwestern Energy Co		621
	13,911	*	Talos Energy, Inc		90
	141,390		Targa Resources Investments, Inc		1,984
	39,279	*,e	Tellurian, Inc		31
	16,234	*	Tidewater, Inc		109
	95,169	*,e	Uranium Energy Corp		95
	58,687		US Silica Holdings, Inc		176
	246,390		Valero Energy Corp		10,674
	14,396	*,e	W&T Offshore, Inc		26
	728,131		Williams Cos, Inc		14,308
	29,960		World Fuel Services Corp		635
	284,313	*	WPX Energy, Inc		1,393
			TOTAL ENERGY		372,563
FOOD & STAPLES RETAILING - 1.4%
	26,613	*,e	Albertsons Cos, Inc		369
	19,849		Andersons, Inc		381
	22,168		Casey’s General Stores, Inc		3,938
	14,374	*	Chefs’ Warehouse Holdings, Inc		209
	256,259		Costco Wholesale Corp		90,972
	32,707	*	Grocery Outlet Holding Corp		1,286
	21,180	*,e	HF Foods Group Inc		140
	10,217	e	Ingles Markets, Inc (Class A)		389
	455,584		Kroger Co		15,449
	6,410		Natural Grocers by Vitamin C		63
	70,016	*	Performance Food Group Co		2,424

284

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	14,866		Pricesmart, Inc	$	988
	38,176	*,e	Rite Aid Corp		362
	27,344		SpartanNash Co		447
	72,919	*	Sprouts Farmers Market, Inc		1,526
	284,759		SYSCO Corp		17,718
	36,929	*	United Natural Foods, Inc		549
	129,589	*	US Foods Holding Corp		2,879
	4,843		Village Super Market (Class A)		119
	424,412		Walgreens Boots Alliance, Inc		15,245
	809,715		Walmart, Inc		113,287
	4,684		Weis Markets, Inc		225
			TOTAL FOOD & STAPLES RETAILING		268,965
FOOD, BEVERAGE & TOBACCO - 3.1%
	2,296		Alico, Inc		66
	1,087,441		Altria Group, Inc		42,019
	314,593		Archer-Daniels-Midland Co		14,625
	48,393	e	B&G Foods, Inc (Class A)		1,344
	29,996	*,e	Beyond Meat, Inc		4,981
	4,644	*,e	Boston Beer Co, Inc (Class A)		4,102
	21,579		Brown-Forman Corp (Class A)		1,482
	99,618		Brown-Forman Corp (Class B)		7,503
	82,637		Bunge Ltd		3,777
	11,455		Calavo Growers, Inc		759
	22,629	*	Cal-Maine Foods, Inc		868
	99,585		Campbell Soup Co		4,817
	20,431	*,e	Celsius Holdings, Inc		464
	2,251,099		Coca-Cola Co		111,137
	3,092		Coca-Cola Consolidated Inc		744
	277,399		ConAgra Brands, Inc		9,906
	91,830		Constellation Brands, Inc (Class A)		17,403
	7,653	*	Craft Brewers Alliance, Inc		126
	96,358	*	Darling International, Inc		3,472
	5,320	*	Farmer Bros Co		24
	103,413		Flowers Foods, Inc		2,516
	20,613		Fresh Del Monte Produce, Inc		472
	23,047	*	Freshpet, Inc		2,573
	354,822		General Mills, Inc		21,885
	50,738	*	Hain Celestial Group, Inc		1,740
	86,018		Hershey Co		12,330
	153,581		Hormel Foods Corp		7,509
	57,996	*	Hostess Brands, Inc		715
	34,138		Ingredion, Inc		2,584
	10,369		J&J Snack Foods Corp		1,352
	62,685		J.M. Smucker Co		7,241
	5,780		John B. Sanfilippo & Son, Inc		436
	142,937		Kellogg Co		9,232
	204,467		Keurig Dr Pepper, Inc		5,643
	370,323		Kraft Heinz Co		11,091
	86,473		Lamb Weston Holdings, Inc		5,731
	13,060		Lancaster Colony Corp		2,335
	19,323	*	Landec Corp		188
	8,386		Limoneira Co		120
	71,411		McCormick & Co, Inc		13,861

285

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	9,193	e	MGP Ingredients, Inc	$	365
	100,662		Molson Coors Brewing Co (Class B)		3,378
	815,301		Mondelez International, Inc		46,839
	213,341	*	Monster Beverage Corp		17,110
	8,574	e	National Beverage Corp		583
	46,743	*	NewAge, Inc		81
	808,903		PepsiCo, Inc		112,114
	902,978		Philip Morris International, Inc		67,714
	2,181	*	Pilgrim’s Pride Corp		33
	35,377	*	Post Holdings, Inc		3,042
	92,946		Primo Water Corp		1,320
	11,652		Sanderson Farms, Inc		1,375
	192		Seaboard Corp		545
	5,451	*	Seneca Foods Corp		195
	40,880	*	Simply Good Foods Co		901
	11,646	e	Tootsie Roll Industries, Inc		360
	29,630	*	TreeHouse Foods, Inc		1,201
	4,760		Turning Point Brands, Inc		133
	167,956		Tyson Foods, Inc (Class A)		9,990
	14,454		Universal Corp		605
	53,131		Vector Group Ltd		515
			TOTAL FOOD, BEVERAGE & TOBACCO		607,572
HEALTH CARE EQUIPMENT & SERVICES - 6.6%
	45,310	*	1Life Healthcare, Inc		1,285
	1,007,521		Abbott Laboratories		109,649
	25,665	*	Abiomed, Inc		7,111
	56,824	*	Acadia Healthcare Co, Inc		1,675
	6,707	*	Accolade, Inc		261
	58,290	*	Accuray, Inc		140
	5,674	*	Acutus Medical, Inc		169
	14,403	*	AdaptHealth Corp		314
	5,501	*	Addus HomeCare Corp		520
	44,769	*	Align Technology, Inc		14,656
	133,589	*	Allscripts Healthcare Solutions, Inc		1,087
	19,731	*	Amedisys, Inc		4,665
	6,596	*,e	American Renal Associates Holdings, Inc		46
	83,564		AmerisourceBergen Corp		8,099
	31,962	*	AMN Healthcare Services, Inc		1,869
	26,107	*	Angiodynamics, Inc		315
	104,354	*	Antares Pharma, Inc		282
	147,119		Anthem, Inc		39,515
	16,786	*,e	Apollo Medical Holdings, Inc		301
	22,609	*	AtriCure, Inc		902
	1,019		Atrion Corp		638
	33,829	*,e	Avanos Medical, Inc		1,124
	18,090	*,e	AxoGen, Inc		210
	9,978	*,e	Axonics Modulation Technologies, Inc		509
	298,204		Baxter International, Inc		23,982
	160,255		Becton Dickinson & Co		37,288
	7,927	*	BioLife Solutions Inc		229
	19,708	*	BioTelemetry, Inc		898
	829,805	*	Boston Scientific Corp		31,707
	135,933	*	Brookdale Senior Living, Inc		345

286

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	25,974		Cantel Medical Corp	$	1,141
	164,290		Cardinal Health, Inc		7,713
	23,626	*	Cardiovascular Systems, Inc		930
	325,464	*	Centene Corp		18,984
	177,815		Cerner Corp		12,854
	71,510	*	Cerus Corp		448
	138,891	*	Change Healthcare, Inc		2,015
	9,197		Chemed Corp		4,418
	210,703		Cigna Corp		35,695
	15,433	*,e	Co-Diagnostics, Inc		210
	49,106	*	Community Health Systems, Inc		207
	8,700		Computer Programs & Systems, Inc		240
	19,875	e	Conmed Corp		1,564
	26,916		Cooper Cos, Inc		9,074
	7,512	*	Corvel Corp		642
	39,829	*	Covetrus, Inc		972
	25,224	*	Cross Country Healthcare, Inc		164
	23,064	*	CryoLife, Inc		426
	16,944	*,e	CryoPort, Inc		803
	10,004	*	Cutera, Inc		190
	759,928		CVS Health Corp		44,380
	19,235	*	CytoSorbents Corp		153
	363,514		Danaher Corp		78,275
	46,937	*	DaVita, Inc		4,020
	130,875		Dentsply Sirona, Inc		5,723
	53,725	*	DexCom, Inc		22,147
	356,297	*	Edwards Lifesciences Corp		28,440
	54,203		Encompass Health Corp		3,522
	25,058		Ensign Group, Inc		1,430
	90,976	*	Envista Holdings Corp		2,245
	27,058	*	Enzo Biochem, Inc		57
	45,708	*	Evolent Health, Inc		567
	30,765	*	GenMark Diagnostics, Inc		437
	20,642	*,e	Glaukos Corp		1,022
	48,523	*	Globus Medical, Inc		2,403
	44,457	*	Guardant Health, Inc		4,969
	31,065	*	Haemonetics Corp		2,710
	23,398	*	Hanger Inc		370
	155,945		HCA Healthcare, Inc		19,443
	11,667	*,e	Health Catalyst, Inc		427
	41,555	*	HealthEquity, Inc		2,135
	18,780	*	HealthStream, Inc		377
	82,116	*	Henry Schein, Inc		4,827
	4,605	*	Heska Corp		455
	36,164		Hill-Rom Holdings, Inc		3,020
	44,045	*	HMS Holdings Corp		1,055
	143,873	*	Hologic, Inc		9,563
	76,607		Humana, Inc		31,707
	10,885	*	ICU Medical, Inc		1,989
	49,115	*	IDEXX Laboratories, Inc		19,308
	4,432	*	Inari Medical, Inc		306
	12,244	*,e	Inogen, Inc		355
	43,464	*	Inovalon Holdings, Inc		1,150
	15,579	*	Inspire Medical Systems, Inc		2,010

287

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	38,127	*	Insulet Corp	$	9,020
	22,691	*	Integer Holding Corp		1,339
	34,017	*	Integra LifeSciences Holdings Corp		1,606
	4,136	*	IntriCon Corp		50
	66,831	*	Intuitive Surgical, Inc		47,419
	23,110		Invacare Corp		174
	16,105	*	iRhythm Technologies, Inc		3,835
	56,682	*	Laboratory Corp of America Holdings		10,672
	34,223	*	Lantheus Holdings, Inc		434
	9,523		LeMaitre Vascular, Inc		310
	17,004	*	LHC Group, Inc		3,614
	33,006	*	LivaNova plc		1,492
	31,655	*	Livongo Health, Inc		4,433
	16,931	*	Magellan Health Services, Inc		1,283
	29,131	*	Masimo Corp		6,877
	94,443		McKesson Corp		14,065
	43,753	*	MEDNAX, Inc		712
	778,786		Medtronic plc		80,931
	31,965	*	Meridian Bioscience, Inc		543
	35,220	*	Merit Medical Systems, Inc		1,532
	2,255		Mesa Laboratories, Inc		574
	33,870	*	Molina Healthcare, Inc		6,200
	7,753		National Healthcare Corp		483
	5,598		National Research Corp		275
	24,197	*	Natus Medical, Inc		414
	35,733	*	Neogen Corp		2,796
	19,942	*	Nevro Corp		2,778
	37,773	*	NextGen Healthcare, Inc		481
	54,721	*	Novocure Ltd		6,091
	36,380	*	NuVasive, Inc		1,767
	10,001	*	Oak Street Health, Inc		534
	26,681	*	Omnicell, Inc		1,992
	4,594	*,e	Ontrak, Inc		276
	21,564	*	Option Care Health, Inc		288
	40,487	*	OraSure Technologies, Inc		493
	12,159	*	Orthofix Medical Inc		379
	5,177	*,e	OrthoPediatrics Corp		238
	43,714		Owens & Minor, Inc		1,098
	57,408	e	Patterson Cos, Inc		1,384
	17,723	*	Pennant Group, Inc		683
	17,918	*	Penumbra, Inc		3,483
	5,304	*,e	PetIQ, Inc		175
	16,748	*	Phreesia, Inc		538
	70,546	*	PPD, Inc		2,610
	33,935		Premier, Inc		1,114
	15,686	*,e	Progyny, Inc		462
	8,662	*	Providence Service Corp		805
	1,366	*,e	Pulse Biosciences, Inc		16
	76,286		Quest Diagnostics, Inc		8,734
	20,943	*	Quidel Corp		4,594
	36,034	*	Quotient Ltd		185
	72,154	*	R1 RCM, Inc		1,237
	25,914	*	RadNet, Inc		398
	83,296		Resmed, Inc		14,279

288

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	37,335	*,e	Rockwell Medical, Inc	$	40
	15,644	*	SeaSpine Holdings Corp		224
	77,335	*	Select Medical Holdings Corp		1,610
	15,867	*	Shockwave Medical Inc		1,203
	10,272	*	SI-BONE, Inc		244
	10,185	*,e	Sientra, Inc		35
	18,916	*	Silk Road Medical Inc		1,271
	7,680		Simulations Plus, Inc		579
	26,141	*	Staar Surgical Co		1,479
	46,976		STERIS plc		8,277
	202,312		Stryker Corp		42,156
	38,631	*	Surgalign Holdings, Inc		70
	13,353	*	Surgery Partners, Inc		292
	10,275	*	SurModics, Inc		400
	6,560	*,e	Tabula Rasa HealthCare, Inc		267
	6,719	*	Tactile Systems Technology, Inc		246
	35,006	*	Tandem Diabetes Care, Inc		3,973
	44,411	*,e	Teladoc, Inc		9,737
	26,634		Teleflex, Inc		9,067
	59,665	*	Tenet Healthcare Corp		1,462
	30,967	*,e	Tivity Health, Inc		434
	11,786	*	Transmedics Group, Inc		162
	18,960	*	Triple-S Management Corp (Class B)		339
	548,416		UnitedHealth Group, Inc		170,980
	44,084		Universal Health Services, Inc (Class B)		4,718
	9,158	e	US Physical Therapy, Inc		796
	2,349	e	Utah Medical Products, Inc		188
	7,211	*	Vapotherm, Inc		209
	27,229	*	Varex Imaging Corp		346
	52,486	*	Varian Medical Systems, Inc		9,028
	77,535	*	Veeva Systems, Inc		21,802
	20,450	*,e	Viemed Healthcare, Inc		177
	19,827	*,e	ViewRay, Inc		69
	20,093	*,e	Vocera Communications, Inc		584
	44,107		West Pharmaceutical Services, Inc		12,125
	76,096	*,e	Wright Medical Group NV		2,324
	120,493		Zimmer Biomet Holdings, Inc		16,404
	9,856	e	Zynex Inc		172
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		1,271,162
HOUSEHOLD & PERSONAL PRODUCTS - 1.7%
	25,021	*	BellRing Brands, Inc		519
	7,431	*,e	Central Garden & Pet Co		297
	24,471	*	Central Garden and Pet Co (Class A)		884
	139,764		Church & Dwight Co, Inc		13,097
	72,404		Clorox Co		15,217
	489,168		Colgate-Palmolive Co		37,739
	215,270		Coty, Inc		581
	41,449	*	Edgewell Personal Care Co		1,156
	15,146	*	elf Beauty, Inc		278
	37,105		Energizer Holdings, Inc		1,452
	126,654		Estee Lauder Cos (Class A)		27,642
	60,686	*	Herbalife Nutrition Ltd		2,831
	12,258		Inter Parfums, Inc		458

289

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	196,070		Kimberly-Clark Corp	$	28,952
	7,966		Medifast, Inc		1,310
	5,868	*	Nature’s Sunshine Products, Inc		68
	36,417		Nu Skin Enterprises, Inc (Class A)		1,824
	3,981		Oil-Dri Corp of America		143
	1,415,717		Procter & Gamble Co		196,771
	8,319	*,e	Revlon, Inc (Class A)		53
	29,272		Reynolds Consumer Products Inc		896
	27,100		Spectrum Brands Holdings, Inc		1,549
	8,349	*	USANA Health Sciences, Inc		615
	7,178		WD-40 Co		1,359
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		335,691
INSURANCE - 3.2%
	425,457		Aflac, Inc		15,465
	8,152		Alleghany Corp		4,243
	181,931		Allstate Corp		17,127
	32,424	*	AMBAC Financial Group, Inc		414
	39,602		American Equity Investment Life Holding Co		871
	43,725		American Financial Group, Inc		2,929
	496,335		American International Group, Inc		13,664
	5,469		American National Group, Inc		369
	13,468		Amerisafe, Inc		772
	131,957		Aon plc		27,223
	229,608	*	Arch Capital Group Ltd		6,716
	24,041	*	Argo Group International Holdings Ltd		828
	108,100		Arthur J. Gallagher & Co		11,413
	35,672		Assurant, Inc		4,327
	36,683		Assured Guaranty Ltd		788
	69,091	*	Athene Holding Ltd		2,355
	49,119		Axis Capital Holdings Ltd		2,163
	1,113,115	*	Berkshire Hathaway, Inc (Class B)		237,027
	37,914	*	Brighthouse Financial, Inc		1,020
	131,778		Brown & Brown, Inc		5,966
	11,865	*	BRP Group, Inc		296
	259,826		Chubb Ltd		30,171
	89,646		Cincinnati Financial Corp		6,990
	32,879	*,e	Citizens, Inc (Class A)		182
	6,112		CNA Financial Corp		183
	66,761		Conseco, Inc		1,071
	7,812		Donegal Group, Inc (Class A)		110
	15,165	*	eHealth, Inc		1,198
	23,170		Employers Holdings, Inc		701
	5,156	*	Enstar Group Ltd		833
	15,223		Erie Indemnity Co (Class A)		3,201
	24,282		Everest Re Group Ltd		4,797
	7,071		FBL Financial Group, Inc (Class A)		341
	10,321		FedNat Holding Co		65
	168,274		Fidelity National Financial Inc		5,269
	67,815		First American Financial Corp		3,452
	311,286	*	Genworth Financial, Inc (Class A)		1,043
	59,180		Globe Life, Inc		4,728
	24,045	*	GoHealth, Inc		313
	6,616		Goosehead Insurance, Inc		573

290

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	20,683	*,e	Greenlight Capital Re Ltd (Class A)	$	139
	22,092		Hanover Insurance Group, Inc		2,058
	216,161		Hartford Financial Services Group, Inc		7,968
	5,533		HCI Group, Inc		273
	18,411		Heritage Insurance Holdings, Inc		186
	29,606		Horace Mann Educators Corp		989
	5,237		Independence Holding Co		197
	1,119		Investors Title Co		146
	12,617		James River Group Holdings Ltd		562
	38,336		Kemper Corp		2,562
	10,502		Kinsale Capital Group, Inc		1,997
	7,374	*,e	Lemonade, Inc		367
	108,445		Lincoln National Corp		3,398
	126,990		Loews Corp		4,413
	7,794	*	Markel Corp		7,589
	293,121		Marsh & McLennan Cos, Inc		33,621
	59,989	*	MBIA, Inc		364
	20,342		Mercury General Corp		842
	445,603		Metlife, Inc		16,563
	35,673		National General Holdings Corp		1,204
	1,551		National Western Life Group, Inc		283
	7,308	*	NI Holdings, Inc		123
	167,351		Old Republic International Corp		2,467
	7,880	*	Palomar Holdings, Inc		821
	23,895		Primerica, Inc		2,703
	160,225		Principal Financial Group		6,452
	37,307		ProAssurance Corp		583
	338,974		Progressive Corp		32,091
	6,904		Protective Insurance Corp		91
	227,351		Prudential Financial, Inc		14,441
	37,637		Reinsurance Group of America, Inc (Class A)		3,583
	28,312		RenaissanceRe Holdings Ltd		4,806
	23,570		RLI Corp		1,973
	11,093		Safety Insurance Group, Inc		766
	35,222		Selective Insurance Group, Inc		1,814
	18,354	*	Selectquote, Inc		372
	11,039		State Auto Financial Corp		152
	15,315		Stewart Information Services Corp		670
	51,271	*	Third Point Reinsurance Ltd		356
	22,143		Tiptree Inc		110
	147,161		Travelers Cos, Inc		15,921
	15,868	*	Trupanion, Inc		1,252
	16,104		United Fire Group Inc		327
	12,682		United Insurance Holdings Corp		77
	22,402		Universal Insurance Holdings, Inc		310
	87,659		Unum Group		1,475
	83,367		W.R. Berkley Corp		5,098
	13,074	*	Watford Holdings Ltd		300
	1,751		White Mountains Insurance Group Ltd		1,364
	73,934		Willis Towers Watson plc		15,439
			TOTAL INSURANCE		622,855
MATERIALS - 2.8%
	15,014	e	Advanced Emissions Solutions, Inc		61

291

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	22,501	*	AdvanSix, Inc	$	290
	128,022		Air Products & Chemicals, Inc		38,133
	60,026	e	Albemarle Corp		5,359
	122,406	*	Alcoa Corp		1,424
	78,013	*	Allegheny Technologies, Inc		680
	960,658		Amcor plc		10,615
	20,501		American Vanguard Corp		269
	41,780	*	Amyris, Inc		122
	36,989		Aptargroup, Inc		4,187
	57,334	*	Arconic Corp		1,092
	13,288		Ardagh Group S.A.		187
	36,159		Ashland Global Holdings, Inc		2,564
	52,341		Avery Dennison Corp		6,691
	58,890		Avient Corp		1,558
	113,646	*	Axalta Coating Systems Ltd		2,520
	19,086		Balchem Corp		1,863
	184,827		Ball Corp		15,363
	79,377	*	Berry Global Group, Inc		3,835
	27,727		Boise Cascade Co		1,107
	31,457		Cabot Corp		1,133
	31,590		Carpenter Technology Corp		574
	68,757		Celanese Corp (Series A)		7,388
	36,798	*	Century Aluminum Co		262
	127,807		CF Industries Holdings, Inc		3,925
	5,158		Chase Corp		492
	96,050		Chemours Co		2,008
	11,678	*	Clearwater Paper Corp		443
	234,932	e	Cleveland-Cliffs, Inc		1,508
	15,115	*	CMC Materials, Inc		2,159
	119,550	*	Coeur Mining, Inc		882
	66,530		Commercial Metals Co		1,329
	20,319		Compass Minerals International, Inc		1,206
	433,205		Corteva, Inc		12,481
	68,490	*	Crown Holdings, Inc		5,264
	32,116		Domtar Corp		844
	437,855		Dow, Inc		20,601
	429,890		DuPont de Nemours, Inc		23,850
	24,696		Eagle Materials, Inc		2,132
	73,320		Eastman Chemical Co		5,728
	143,976		Ecolab, Inc		28,772
	159,281	*	Element Solutions, Inc		1,674
	60,041	*	Ferro Corp		745
	47,286	*,†	Ferroglobe plc		0
	71,763		FMC Corp		7,600
	844,636		Freeport-McMoRan, Inc (Class B)		13,210
	17,819		FutureFuel Corp		203
	23,656	*	GCP Applied Technologies, Inc		496
	39,231	*	Gold Resource Corp		134
	145,764		Graphic Packaging Holding Co		2,054
	18,292		Greif, Inc (Class A)		662
	3,993		Greif, Inc (Class B)		158
	34,325		H.B. Fuller Co		1,571
	7,923		Hawkins, Inc		365
	9,402		Haynes International, Inc		161

292

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	335,463		Hecla Mining Co	$	1,704
	119,837		Huntsman Corp		2,662
	30,403	*	Ingevity Corp		1,503
	11,273		Innospec, Inc		714
	60,340		International Flavors & Fragrances, Inc		7,389
	235,393		International Paper Co		9,543
	6,735	*	Intrepid Potash, Inc		57
	12,178		Kaiser Aluminum Corp		653
	15,231	*	Koppers Holdings, Inc		318
	21,628	*	Kraton Corp		385
	14,288	e	Kronos Worldwide, Inc		184
	305,441		Linde plc		72,735
	93,236	*	Livent Corp		836
	61,245		Louisiana-Pacific Corp		1,807
	145,406		LyondellBasell Industries NV		10,250
	37,207		Martin Marietta Materials, Inc		8,757
	14,781		Materion Corp		769
	23,990		Minerals Technologies, Inc		1,226
	201,587		Mosaic Co		3,683
	18,118		Myers Industries, Inc		240
	10,909		Neenah Inc		409
	2,464		NewMarket Corp		843
	464,145		Newmont Goldcorp Corp		29,450
	149,512	*	Novagold Resources Inc		1,778
	174,843		Nucor Corp		7,843
	90,414		O-I Glass, Inc		957
	85,291		Olin Corp		1,056
	6,559		Olympic Steel, Inc		75
	38,461		Orion Engineered Carbons SA		481
	58,185		Packaging Corp of America		6,345
	32,454		PH Glatfelter Co		447
	134,727		PPG Industries, Inc		16,447
	20,162	*	PQ Group Holdings, Inc		207
	9,399		Quaker Chemical Corp		1,689
	31,957	*	Rayonier Advanced Materials, Inc		102
	31,705		Reliance Steel & Aluminum Co		3,235
	41,577		Royal Gold, Inc		4,996
	73,050		RPM International, Inc		6,051
	8,418	*	Ryerson Holding Corp		48
	19,399		Schnitzer Steel Industries, Inc (Class A)		373
	20,766		Schweitzer-Mauduit International, Inc		631
	24,552		Scotts Miracle-Gro Co (Class A)		3,754
	93,004		Sealed Air Corp		3,609
	23,291		Sensient Technologies Corp		1,345
	47,690		Sherwin-Williams Co		33,228
	30,024		Silgan Holdings, Inc		1,104
	58,033		Sonoco Products Co		2,964
	47,834		Southern Copper Corp (NY)		2,165
	120,908		Steel Dynamics, Inc		3,462
	14,267		Stepan Co		1,555
	78,354	*	Summit Materials, Inc		1,296
	48,451		SunCoke Energy, Inc		166
	29,755	*	TimkenSteel Corp		106
	15,246	*	Trecora Resources		94

293

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	19,671		Tredegar Corp	$	292
	23,427		Trinseo S.A.		601
	47,159		Tronox Holdings plc		371
	31,994		UFP Industries, Inc		1,808
	4,630	*	UFP Technologies, Inc		192
	1,357		United States Lime & Minerals, Inc		122
	113,186	e	United States Steel Corp		831
	11,048	*	US Concrete, Inc		321
	92,954		Valvoline, Inc		1,770
	22,885		Verso Corp		181
	80,224		Vulcan Materials Co		10,874
	11,178		Warrior Met Coal, Inc		191
	24,489		Westlake Chemical Corp		1,548
	148,721		WestRock Co		5,167
	13,987	*	Worthington Industries, Inc		570
	32,691		WR Grace and Co		1,317
			TOTAL MATERIALS		539,816
MEDIA & ENTERTAINMENT - 8.1%
	446,693		Activision Blizzard, Inc		36,160
	174,390	*	Alphabet, Inc (Class A)		255,586
	172,140	*	Alphabet, Inc (Class C)		252,977
	172,741	*	Altice USA, Inc		4,491
	39,663	e	AMC Entertainment Holdings, Inc		187
	16,067	*	AMC Networks, Inc		397
	7,321	*,e	Black Diamond Therapeutics, Inc		221
	3,042		Cable One, Inc		5,735
	15,383	*,e	Cardlytics, Inc		1,086
	51,402	*	Cargurus, Inc		1,112
	51,951	*	Cars.com, Inc		420
	57,360	*	Central European Media Enterprises Ltd (Class A) (NASDAQ)		240
	86,896	*	Charter Communications, Inc		54,253
	76,895		Cinemark Holdings, Inc		769
	2,642,640		Comcast Corp (Class A)		122,249
	31,610	*	comScore, Inc		64
	772	*,e	Daily Journal Corp		187
	89,117	*,e	Discovery, Inc (Class A)		1,940
	165,600	*	Discovery, Inc (Class C)		3,246
	139,918	*	DISH Network Corp (Class A)		4,062
	166,899	*	Electronic Arts, Inc		21,765
	88,350		Entercom Communications Corp (Class A)		142
	50,932		Entravision Communications Corp (Class A)		77
	20,620	*,e	Eros International plc		46
	23,593	*,e	Eventbrite Inc		256
	8,345	*	EverQuote Inc		322
	42,935		EW Scripps Co (Class A)		491
	1,394,982	*	Facebook, Inc		365,346
	10,504	*	Fluent, Inc		26
	207,531		Fox Corp (Class A)		5,776
	87,909		Fox Corp (Class B)		2,459
	6,584	*	Gaia, Inc		65
	83,211	e	Gannett Co, Inc		108
	54,344	*	Glu Mobile, Inc		417

294

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	46,930	*	Gray Television, Inc	$	646
	11,523	*	Hemisphere Media Group, Inc		100
	35,623	*,e	iHeartMedia, Inc		289
	42,177	*	Imax Corp		504
	230,004		Interpublic Group of Cos, Inc		3,834
	30,218		John Wiley & Sons, Inc (Class A)		958
	7,655	*,e	Liberty Braves Group (Class A)		160
	25,374	*	Liberty Braves Group (Class C)		533
	12,929	*	Liberty Broadband Corp (Class A)		1,833
	58,954	*	Liberty Broadband Corp (Class C)		8,423
	15,619	*	Liberty Media Group (Class A)		523
	123,792	*	Liberty Media Group (Class C)		4,490
	50,898	*	Liberty SiriusXM Group (Class A)		1,688
	98,761	*	Liberty SiriusXM Group (Class C)		3,267
	53,282	*	Liberty TripAdvisor Holdings, Inc		92
	37,150	*	Lions Gate Entertainment Corp (Class A)		352
	71,817	*	Lions Gate Entertainment Corp (Class B)		626
	88,266	*	Live Nation, Inc		4,756
	9,932		Loral Space & Communications, Inc		182
	13,200	*	Madison Square Garden Co		1,986
	13,200	*	Madison Square Garden Entertainment Corp		904
	14,211		Marcus Corp		110
	127,795	*	Match Group, Inc		14,141
	5,731		Meredith Corp		75
	43,336	*,e	MSG Networks, Inc		415
	46,358		National CineMedia, Inc		126
	247,480	*	Netflix, Inc		123,747
	89,935		New York Times Co (Class A)		3,848
	232,243		News Corp (Class A)		3,256
	86,319		News Corp (Class B)		1,207
	26,017		Nexstar Media Group Inc		2,340
	120,575		Omnicom Group, Inc		5,968
	226,806	*	Pinterest, Inc		9,415
	20,643	*	QuinStreet, Inc		327
	61,383	*	Roku, Inc		11,589
	3,161		Saga Communications, Inc		63
	19,984		Scholastic Corp		419
	42,650	e	Sinclair Broadcast Group, Inc (Class A)		820
	604,849		Sirius XM Holdings, Inc		3,242
	76,607	*	Spotify Technology S.A.		18,583
	65,316	*	Take-Two Interactive Software, Inc		10,792
	12,153	*	TechTarget, Inc		534
	119,764		TEGNA, Inc		1,407
	15,283	e	Tribune Publishing Co		178
	71,015		TripAdvisor, Inc		1,391
	44,667	*	TrueCar, Inc		223
	447,169	*	Twitter, Inc		19,899
	4,594		ViacomCBS, Inc (Class A)		139
	313,588		ViacomCBS, Inc (Class B)		8,784
	1,052,417		Walt Disney Co		130,584
	15,148	*	WideOpenWest, Inc		79
	27,047		World Wrestling Entertainment, Inc (Class A)		1,095
	41,665	*	Yelp, Inc		837
	30,754	*	Zillow Group, Inc (Class A)		3,123

295

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	76,096	*	Zillow Group, Inc (Class C)	$	7,731
	549,506	*	Zynga, Inc		5,012
			TOTAL MEDIA & ENTERTAINMENT		1,570,323
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.9%
	32,568	*	10X Genomics, Inc		4,061
	1,025,279		AbbVie, Inc		89,804
	35,579	*	Abeona Therapeutics, Inc		36
	70,913	*	Acadia Pharmaceuticals, Inc		2,925
	18,841	*,e	Accelerate Diagnostics, Inc		201
	27,490	*	Acceleron Pharma, Inc		3,093
	41,261	*	Adaptive Biotechnologies Corp		2,007
	42,500	*,e	ADMA Biologics, Inc		102
	39,587	*	Aduro Biotech, Inc		96
	36,900	*	Adverum Biotechnologies, Inc		380
	25,056	*	Aeglea BioTherapeutics, Inc		178
	21,807	*,e	Aerie Pharmaceuticals, Inc		257
	43,765	*	Affimed NV		148
	56,789	*	Agenus, Inc		227
	179,262		Agilent Technologies, Inc		18,095
	34,493	*	Agios Pharmaceuticals, Inc		1,207
	25,712	*,e	Aimmune Therapeutics, Inc		886
	10,845	*	Akcea Therapeutics, Inc		197
	62,063	*	Akebia Therapeutics, Inc		156
	6,662	*	Akero Therapeutics, Inc		205
	8,375	*	Akouos, Inc		192
	6,175	*	Albireo Pharma, Inc		206
	34,164	*,†	Alder Biopharmaceuticals Inc		30
	19,353	*	Alector, Inc		204
	124,174	*	Alexion Pharmaceuticals, Inc		14,209
	110,420	*	Alkermes plc		1,830
	12,247	*,e	Allakos, Inc		998
	28,864	*	Allogene Therapeutics, Inc		1,088
	10,335	*	Allovir, Inc		284
	68,830	*	Alnylam Pharmaceuticals, Inc		10,022
	5,521	*	ALX Oncology Holdings, Inc		208
	25,493	*,e	AMAG Pharmaceuticals, Inc		240
	344,082		Amgen, Inc		87,452
	151,298	*	Amicus Therapeutics, Inc		2,136
	53,162	*,e	Amneal Pharmaceuticals, Inc		206
	25,774	*	Amphastar Pharmaceuticals, Inc		483
	12,566	*	AnaptysBio, Inc		185
	30,524	*,e	Anavex Life Sciences Corp		139
	5,767	*	ANI Pharmaceuticals, Inc		163
	10,943	*	Anika Therapeutics, Inc		387
	43,255	*	Apellis Pharmaceuticals, Inc		1,305
	7,158	*	Applied Molecular Transport, Inc		228
	2,776	*	Applied Therapeutics, Inc		58
	4,282	*	Aprea Therapeutics, Inc		103
	7,756	*	Arcturus Therapeutics Holdings, Inc		333
	20,717	*	Arcus Biosciences, Inc		355
	5,644	*,e	Arcutis Biotherapeutics, Inc		165
	22,973	*	Ardelyx, Inc		121
	33,642	*	Arena Pharmaceuticals, Inc		2,516

296

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	58,978	*	Arrowhead Pharmaceuticals Inc	$	2,540
	11,368	*	Arvinas, Inc		268
	10,043	*	Assembly Biosciences, Inc		165
	34,194	*	Atara Biotherapeutics, Inc		443
	28,525	*	Athenex, Inc		345
	52,762	*,e	Athersys, Inc		103
	12,676	*	Atreca, Inc		177
	246,549	*	Avantor, Inc		5,545
	33,858	*	Avid Bioservices, Inc		258
	9,645	*	Avidity Biosciences, Inc		272
	13,157	*,e	Avrobio, Inc		171
	15,727	*	Axsome Therapeutics, Inc		1,121
	7,336	*,e	Beam Therapeutics, Inc		181
	5,427	*	Berkeley Lights, Inc		414
	68,998	*	BioCryst Pharmaceuticals, Inc		237
	52,671	*	BioDelivery Sciences International, Inc		196
	91,613	*	Biogen, Inc		25,989
	28,080	*	Biohaven Pharmaceutical Holding Co Ltd		1,825
	108,133	*	BioMarin Pharmaceutical, Inc		8,227
	12,637	*	Bio-Rad Laboratories, Inc (Class A)		6,514
	3,856	*	Biospecifics Technologies Corp		204
	23,799		Bio-Techne Corp		5,896
	6,302	*	Bioxcel Therapeutics Inc		273
	33,689	*	Bluebird Bio, Inc		1,818
	28,144	*	Blueprint Medicines Corp		2,609
	15,901	*,e	BrainStorm Cell Therapeutics, Inc		269
	46,072	*,e	Bridgebio Pharma, Inc		1,729
	1,314,254		Bristol-Myers Squibb Co		79,236
	63,170		Bruker BioSciences Corp		2,511
	21,820	*	Calithera Biosciences, Inc		75
	5,849	*,e	Calyxt, Inc		32
	19,366	*,e	Cara Therapeutics, Inc		246
	21,908	*	CareDx, Inc		831
	33,837	*	CASI Pharmaceuticals, Inc		52
	6,101	*	Castle Biosciences, Inc		314
	90,837	*	Catalent, Inc		7,781
	50,782	*	Catalyst Pharmaceuticals, Inc		151
	20,222	*,e	CEL-SCI Corp		258
	27,950	*	Charles River Laboratories International, Inc		6,329
	26,464	*	ChemoCentryx, Inc		1,450
	21,853	*	Chiasma, Inc		94
	30,594	*	Chimerix, Inc		76
	28,650	*,e	Clovis Oncology, Inc		167
	23,538	*	Codexis, Inc		276
	27,864	*	Coherus Biosciences, Inc		511
	16,286	*	Collegium Pharmaceutical, Inc		339
	11,239	*	Concert Pharmaceuticals, Inc		110
	9,720	*	Constellation Pharmaceuticals, Inc		197
	32,828	*,e	Corbus Pharmaceuticals Holdings, Inc		59
	65,375	*,e	Corcept Therapeutics, Inc		1,138
	7,159	*,e	Cortexyme Inc		358
	16,128	*	Crinetics Pharmaceuticals, Inc		253
	11,975	*	Cue Biopharma, Inc		180
	39,943	*	Cymabay Therapeutics, Inc		289

297

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	30,153	*	Cytokinetics, Inc	$	653
	21,311	*	CytomX Therapeutics, Inc		142
	22,263	*	Deciphera Pharmaceuticals, Inc		1,142
	35,588	*	Denali Therapeutics, Inc		1,275
	30,105	*	Dicerna Pharmaceuticals, Inc		542
	117,742	*	Durect Corp		201
	35,256	*,e	Dynavax Technologies Corp		152
	6,368	*	Eagle Pharmaceuticals, Inc		271
	24,325	*	Editas Medicine, Inc		683
	10,671	*	Eidos Therapeutics, Inc		539
	14,062	*	Eiger BioPharmaceuticals, Inc		114
	242,355	*	Elanco Animal Health, Inc		6,769
	491,420		Eli Lilly & Co		72,740
	14,575	*,e	Eloxx Pharmaceuticals, Inc		38
	24,015	*	Emergent Biosolutions, Inc		2,481
	11,786	*	Enanta Pharmaceuticals, Inc		540
	161,263	*	Endo International plc		532
	56,660	*,e	Epizyme, Inc		676
	9,694	*,e	Esperion Thereapeutics, Inc		360
	13,985	*,e	Evofem Biosciences Inc		33
	85,635	*	Exact Sciences Corp		8,730
	189,826	*	Exelixis, Inc		4,641
	42,216	*,e	Fate Therapeutics, Inc		1,687
	50,667	*	FibroGen, Inc		2,083
	19,800	*	Five Prime Therapeutics, Inc		93
	19,463	*,e	Flexion Therapeutics, Inc		203
	20,851	*,e	Fluidigm Corp		155
	9,293	*	Forma Therapeutics Holdings, Inc		463
	16,778	*,e	Frequency Therapeutics, Inc		322
	20,311	*	G1 Therapeutics, Inc		235
	7,088	*	Generation Bio Co		219
	114,325	*,e	Geron Corp		199
	733,562		Gilead Sciences, Inc		46,354
	36,433	*	Global Blood Therapeutics, Inc		2,009
	22,784	*	GlycoMimetics, Inc		70
	12,922	*	Gossamer Bio, Inc		160
	79,065	*	Halozyme Therapeutics, Inc		2,078
	52,161	*,e	Heron Therapeutics, Inc		773
	11,341	*	Homology Medicines, Inc		121
	109,952	*	Horizon Therapeutics Plc		8,541
	2,211	*,e	IGM Biosciences, Inc		163
	86,212	*	Illumina, Inc		26,646
	65,469	*	Immunogen, Inc		236
	124,048	*	Immunomedics, Inc		10,548
	11,380	*	Immunovant, Inc		400
	110,207	*	Incyte Corp		9,890
	55,553	*	Innoviva, Inc		581
	85,599	*,e	Inovio Pharmaceuticals, Inc		993
	60,247	*	Insmed, Inc		1,936
	10,757	*,e	Intellia Therapeutics, Inc		214
	12,921	*	Intercept Pharmaceuticals, Inc		536
	18,642	*	Intersect ENT, Inc		304
	25,348	*	Intra-Cellular Therapies, Inc		650
	68,678	*,e	Invitae Corp		2,977

298

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	79,163	*	Ionis Pharmaceuticals, Inc	$	3,756
	74,052	*	Iovance Biotherapeutics, Inc		2,438
	110,831	*	IQVIA Holdings, Inc		17,470
	95,014	*	Ironwood Pharmaceuticals, Inc		855
	26,875	*	IVERIC bio, Inc		152
	32,370	*	Jazz Pharmaceuticals plc		4,616
	1,531,898		Johnson & Johnson		228,069
	4,482	*	Jounce Therapeutics, Inc		37
	47,099	*	Kadmon Holdings, Inc		185
	5,857	*,e	Kala Pharmaceuticals, Inc		44
	9,228	*	Karuna Therapeutics, Inc		714
	46,110	*,e	Karyopharm Therapeutics, Inc		673
	4,158	*	Keros Therapeutics, Inc		160
	15,620	*	Kindred Biosciences, Inc		67
	11,321	*	Kiniksa Pharmaceuticals Ltd		173
	15,063	*,e	Kodiak Sciences, Inc		892
	5,660	*	Krystal Biotech Inc		244
	31,598	*	Kura Oncology, Inc		968
	12,410	*,e	La Jolla Pharmaceutical Co		50
	19,506	*,e	Lannett Co, Inc		119
	30,110	*,e	Lexicon Pharmaceuticals, Inc		43
	8,586	*,e	Ligand Pharmaceuticals, Inc (Class B)		818
	31,134		Luminex Corp		817
	23,459	*	MacroGenics, Inc		591
	3,934	*	Madrigal Pharmaceuticals, Inc		467
	94,899	*,e	MannKind Corp		178
	6,168	*,e	Marinus Pharmaceuticals, Inc		79
	22,034	*,e	MediciNova, Inc		115
	17,824	*	Medpace Holdings, Inc		1,992
	61,495	*	MEI Pharma, Inc		192
	10,086	*	MeiraGTx Holdings plc		134
	1,469,193		Merck & Co, Inc		121,870
	27,294	*	Mersana Therapeutics, Inc		508
	13,612	*	Mettler-Toledo International, Inc		13,146
	18,922	*	Minerva Neurosciences, Inc		60
	21,876	*	Mirati Therapeutics, Inc		3,633
	160,850	*	Moderna, Inc		11,380
	33,966	*	Molecular Templates, Inc		371
	71,708	*	Momenta Pharmaceuticals, Inc		3,763
	8,159	*,e	Morphic Holding, Inc		223
	283,232	*	Mylan NV		4,200
	29,919	*	MyoKardia, Inc		4,079
	46,607	*	Myriad Genetics, Inc		608
	22,499	*	NanoString Technologies, Inc		1,006
	17,123	*,e	NantKwest, Inc		119
	39,201	*	Natera, Inc		2,832
	106,507	*	Nektar Therapeutics		1,767
	58,635	*	NeoGenomics, Inc		2,163
	17,673	*	Neoleukin Therapeutics, Inc		212
	57,167	*	Neurocrine Biosciences, Inc		5,497
	8,857	*,e	NextCure Inc		78
	15,360	*,e	NGM Biopharmaceuticals Inc		244
	9,374	*	Nkarta, Inc		282
	34,678	*,e	Novavax, Inc		3,757

299

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	6,406	*	Nurix Therapeutics, Inc	$	224
	13,115	*,e	Ocular Therapeutix, Inc		100
	7,487	*	Odonate Therapeutics, Inc		101
	29,642	*,e	Omeros Corp		300
	238,337	*,e	Opko Health, Inc		879
	10,903	*,e	Optinose, Inc		43
	5,193	*	ORIC Pharmaceuticals, Inc		130
	25,504	*,e	Ovid therapeutics, Inc		146
	55,440	*,e	Pacific Biosciences of California, Inc		547
	28,237	*	Pacira BioSciences Inc		1,698
	17,330	*,e	Paratek Pharmaceuticals, Inc		94
	8,093	*	Passage Bio, Inc		106
	120,653	*	PDL BioPharma, Inc		380
	66,642	*	PerkinElmer, Inc		8,364
	81,033		Perrigo Co plc		3,720
	11,655	*	Personalis, Inc		253
	3,240,956		Pfizer, Inc		118,943
	6,396	*,e	Phathom Pharmaceuticals, Inc		235
	12,927		Phibro Animal Health Corp		225
	24,527	*,e	Pieris Pharmaceuticals, Inc		51
	34,913	*	PRA Health Sciences, Inc		3,542
	22,592	*	Precision BioSciences Inc		139
	38,233	*	Prestige Consumer Healthcare, Inc.		1,392
	51,583	*,†	Progenics Pharmaceuticals, Inc		0
	13,443	*	Protagonist Therapeutics, Inc		263
	27,579	*	Prothena Corp plc		276
	25,243	*,e	Provention Bio, Inc		324
	37,990	*	PTC Therapeutics, Inc		1,776
	20,506	*	Puma Biotechnology, Inc		207
	125,141	*	QIAGEN NV		6,540
	6,148	*,e	Quanterix Corp		207
	27,010	*	Radius Health, Inc		306
	6,533	*,e	RAPT Therapeutics, Inc		210
	12,412	*	Reata Pharmaceuticals, Inc		1,209
	8,471	*	Recro Pharma, Inc		18
	56,813	*	Regeneron Pharmaceuticals, Inc		31,803
	19,715	*	REGENXBIO, Inc		543
	18,557	*	Relay Therapeutics, Inc		790
	8,368	*,e	Relmada Therapeutics, Inc		315
	33,047	*	Repligen Corp		4,876
	10,254	*	Replimune Group, Inc		236
	25,726	*,e	Retrophin, Inc		475
	33,815	*	Revance Therapeutics, Inc		850
	8,731	*	REVOLUTION Medicines, Inc		304
	6,147	*	Rhythm Pharmaceuticals, Inc		133
	86,450	*	Rigel Pharmaceuticals, Inc		207
	20,281	*	Rocket Pharmaceuticals, Inc		464
	49,384		Royalty Pharma plc		2,078
	22,395	*,e	Rubius Therapeutics, Inc		112
	32,762	*	Sage Therapeutics, Inc		2,002
	52,234	*	Sangamo Therapeutics Inc		494
	44,554	*	Sarepta Therapeutics, Inc		6,257
	5,477	*,e	Satsuma Pharmaceuticals, Inc		21
	28,365	*	Scholar Rock Holding Corp		502

300

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	8,484	*	Schrodinger, Inc	$	403
	72,859	*	Seattle Genetics, Inc		14,258
	13,345	*	Seres Therapeutics, Inc		378
	35,191	*	SIGA Technologies, Inc		242
	6,168	*,e	Solid Biosciences, Inc		13
	127,563	*,e	Sorrento Therapeutics, Inc		1,422
	56,104	*	Spectrum Pharmaceuticals, Inc		229
	6,568	*	SpringWorks Therapeutics, Inc		313
	10,464	*,e	Stoke Therapeutics, Inc		350
	34,621	*	Supernus Pharmaceuticals, Inc		721
	6,983	*	Syndax Pharmaceuticals, Inc		103
	39,474	*	Syneos Health, Inc		2,098
	9,466	*	Syros Pharmaceuticals, Inc		84
	9,709	*	TCR2 Therapeutics Inc		197
	57,481	*	TG Therapeutics, Inc		1,538
	114,084	*,e	TherapeuticsMD, Inc		180
	29,259	*	Theravance Biopharma, Inc		433
	229,432		Thermo Fisher Scientific, Inc		101,299
	18,965	*	Translate Bio, Inc		258
	7,799	*	Tricida, Inc		71
	17,419	*	Turning Point Therapeutics Inc		1,522
	13,734	*	Twist Bioscience Corp		1,043
	68,656	*,e	Tyme Technologies, Inc		67
	33,751	*,e	Ultragenyx Pharmaceutical, Inc		2,774
	28,234	*	United Therapeutics Corp		2,852
	16,428	*,e	UNITY Biotechnology, Inc		57
	12,098	*,e	UroGen Pharma Ltd		233
	31,395	*	Vanda Pharmaceuticals, Inc		303
	30,212	*,e	Vaxart, Inc		201
	10,502	*	Vaxcyte, Inc		519
	102,172	*,e	VBI Vaccines, Inc		292
	29,749	*,e	Veracyte, Inc		967
	97,480	*,e	Verastem, Inc		118
	24,994	*	Vericel Corp		463
	150,761	*	Vertex Pharmaceuticals, Inc		41,025
	11,899	*,e	Viela Bio, Inc		334
	29,514	*,e	Viking Therapeutics, Inc		172
	27,553	*	Vir Biotechnology, Inc		946
	8,673	*	Voyager Therapeutics, Inc		93
	36,641	*	Waters Corp		7,170
	39,150	*	WaVe Life Sciences Ltd		332
	11,934	*,e	XBiotech, Inc		228
	27,098	*	Xencor, Inc		1,051
	13,141	*	Y-mAbs Therapeutics, Inc		504
	6,160	*	Zentalis Pharmaceuticals, Inc		201
	90,754	*,e	ZIOPHARM Oncology, Inc		229
	277,202		Zoetis, Inc		45,841
	33,098	*	Zogenix, Inc		593
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		1,535,338
REAL ESTATE - 3.3%
	36,029		Acadia Realty Trust		378
	31,682		Agree Realty Corp		2,016
	47,563		Alexander & Baldwin, Inc		533

301

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	1,329		Alexander’s, Inc	$	326
	71,512		Alexandria Real Estate Equities, Inc		11,442
	8,343	*,e	Altisource Portfolio Solutions S.A.		106
	28,646		American Assets Trust, Inc		690
	84,782		American Campus Communities, Inc		2,961
	68,972		American Finance Trust, Inc		432
	164,177		American Homes 4 Rent		4,676
	255,541		American Tower Corp		61,772
	109,124		Americold Realty Trust		3,901
	80,063		Apartment Investment & Management Co		2,700
	113,878	*	Apple Hospitality REIT, Inc		1,094
	31,681		Armada Hoffler Properties, Inc		293
	84,670		AvalonBay Communities, Inc		12,645
	16,903		Bluerock Residential Growth REIT, Inc		128
	94,112		Boston Properties, Inc		7,557
	121,360		Brandywine Realty Trust		1,255
	188,541		Brixmor Property Group, Inc		2,204
	43,270	e	Brookfield Property REIT, Inc		530
	56,479		Camden Property Trust		5,025
	50,740		CareTrust REIT, Inc		903
	29,192		CatchMark Timber Trust, Inc		261
	194,298	*	CBRE Group, Inc		9,126
	28,285		Chatham Lodging Trust		216
	21,833		City Office REIT, Inc		164
	10,462		Clipper Realty, Inc		63
	350,580		Colony Capital, Inc		957
	35,353		Columbia Property Trust, Inc		386
	9,586		Community Healthcare Trust, Inc		448
	49,610		CoreCivic, Inc		397
	9,299		CorEnergy Infrastructure Trust, Inc		54
	7,951		CorePoint Lodging, Inc		43
	24,055		Coresite Realty		2,860
	72,219		Corporate Office Properties Trust		1,713
	84,914		Cousins Properties, Inc		2,428
	242,622		Crown Castle International Corp		40,397
	3,235		CTO Realty Growth, Inc		143
	114,248		CubeSmart		3,691
	66,192	*	Cushman & Wakefield plc		696
	65,743		CyrusOne, Inc		4,604
	144,818		DiamondRock Hospitality Co		734
	154,444		Digital Realty Trust, Inc		22,666
	136,618		Diversified Healthcare Trust		481
	102,445		Douglas Emmett, Inc		2,571
	204,536		Duke Realty Corp		7,547
	45,779		Easterly Government Properties, Inc		1,026
	23,644		EastGroup Properties, Inc		3,058
	7,981		Empire State Realty Trust, Inc		49
	45,571		EPR Properties		1,253
	50,969		Equinix, Inc		38,743
	62,602		Equity Commonwealth		1,667
	106,022		Equity Lifestyle Properties, Inc		6,499
	209,454		Equity Residential		10,751
	50,764		Essential Properties Realty Trust, Inc		930
	39,045		Essex Property Trust, Inc		7,840

302

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	14,218	*	eXp World Holdings Inc	$	574
	77,495		Extra Space Storage, Inc		8,291
	19,962	e	Farmland Partners, Inc		133
	43,819		Federal Realty Investment Trust		3,218
	67,202		First Industrial Realty Trust, Inc		2,675
	425	*	Forestar Group, Inc		7
	44,705		Four Corners Property Trust, Inc		1,144
	72,511		Franklin Street Properties Corp		265
	37,147		Front Yard Residential Corp		325
	4,942	*	FRP Holdings, Inc		206
	112,609		Gaming and Leisure Properties, Inc		4,159
	42,598		Geo Group, Inc		483
	18,198		Getty Realty Corp		473
	17,811		Gladstone Commercial Corp		300
	11,325		Gladstone Land Corp		170
	10,990		Global Medical REIT, Inc		148
	44,961		Global Net Lease, Inc		715
	82,789		Healthcare Realty Trust, Inc		2,494
	142,087		Healthcare Trust of America, Inc		3,694
	322,762		Healthpeak Properties Inc		8,763
	27,708		Hersha Hospitality Trust		153
	59,455		Highwoods Properties, Inc		1,996
	443,417		Host Hotels and Resorts, Inc		4,784
	13,982	*	Howard Hughes Corp		805
	96,055		Hudson Pacific Properties		2,106
	48,914	e	Independence Realty Trust, Inc		567
	34,891		Industrial Logistics Properties Trust		763
	7,824		Innovative Industrial Properties, Inc		971
	9,060		Investors Real Estate Trust		590
	325,872		Invitation Homes, Inc		9,121
	172,480	e	Iron Mountain, Inc		4,621
	49,646		iStar Inc		586
	64,898		JBG SMITH Properties		1,735
	6,203	e	Jernigan Capital, Inc		106
	25,075		Jones Lang LaSalle, Inc		2,399
	84,885		Kennedy-Wilson Holdings, Inc		1,233
	60,054		Kilroy Realty Corp		3,120
	238,176		Kimco Realty Corp		2,682
	55,102		Kite Realty Group Trust		638
	51,720		Lamar Advertising Co		3,422
	144,484		Lexington Realty Trust		1,510
	25,812		Life Storage, Inc		2,717
	26,668		LTC Properties, Inc		930
	26,908	e	Macerich Co		183
	65,387		Mack-Cali Realty Corp		825
	11,498	*	Marcus & Millichap, Inc		316
	4,532	*	Maui Land & Pineapple Co, Inc		49
	294,106		Medical Properties Trust, Inc		5,185
	68,412		Mid-America Apartment Communities, Inc		7,932
	50,307		Monmouth Real Estate Investment Corp (Class A)		697
	19,871		National Health Investors, Inc		1,198
	102,134		National Retail Properties, Inc		3,525
	31,451		National Storage Affiliates Trust		1,029
	55,714		New Senior Investment Group, Inc		223

303

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	22,112		Newmark Group, Inc	$	96
	12,730		NexPoint Residential Trust, Inc		565
	23,677		Office Properties Income Trust		491
	129,929		Omega Healthcare Investors, Inc		3,890
	9,122		One Liberty Properties, Inc		149
	76,197		Outfront Media, Inc		1,109
	73,752		Paramount Group, Inc		522
	161,864		Park Hotels & Resorts, Inc		1,617
	85,851		Pebblebrook Hotel Trust		1,076
	107,460		Physicians Realty Trust		1,925
	72,743		Piedmont Office Realty Trust, Inc		987
	47,001		PotlatchDeltic Corp		1,979
	21,687		Preferred Apartment Communities, Inc		117
	424,242		Prologis, Inc		42,687
	13,748		PS Business Parks, Inc		1,683
	87,397		Public Storage, Inc		19,465
	34,553		QTS Realty Trust, Inc		2,178
	68,743		Rayonier, Inc		1,818
	13,117		Re/Max Holdings, Inc		429
	75,694		Realogy Holdings Corp		715
	204,582		Realty Income Corp		12,428
	57,095	*	Redfin Corp		2,851
	100,880		Regency Centers Corp		3,835
	78,162		Retail Opportunities Investment Corp		814
	173,060		Retail Properties of America, Inc		1,005
	11,072		Retail Value, Inc		139
	67,055		Rexford Industrial Realty, Inc		3,068
	92,471		RLJ Lodging Trust		801
	5,123		RMR Group, Inc		141
	57,913		RPT Realty		315
	24,668		Ryman Hospitality Properties		908
	116,469		Sabra Healthcare REIT, Inc		1,606
	7,521		Safehold, Inc		467
	6,451		Saul Centers, Inc		171
	64,333		SBA Communications Corp		20,489
	18,501	*,e	Seritage Growth Properties		249
	26,185		Service Properties Trust		208
	182,204		Simon Property Group, Inc		11,785
	103,764		SITE Centers Corp		747
	38,290		SL Green Realty Corp		1,775
	56,193		Spirit Realty Capital, Inc		1,896
	33,773	*	St. Joe Co		697
	84,224		STAG Industrial, Inc		2,568
	121,165		STORE Capital Corp		3,324
	4,495	*	Stratus Properties, Inc		97
	73,018		Summit Hotel Properties, Inc		378
	56,879		Sun Communities, Inc		7,998
	159,024		Sunstone Hotel Investors, Inc		1,263
	67,688	e	Tanger Factory Outlet Centers, Inc		408
	31,888		Taubman Centers, Inc		1,062
	12,164	*	Tejon Ranch Co		172
	35,329		Terreno Realty Corp		1,935
	175,727		UDR, Inc		5,730
	20,169		UMH Properties, Inc		273

304

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	119,952		Uniti Group, Inc	$	1,264
	9,264		Universal Health Realty Income Trust		528
	70,770		Urban Edge Properties		688
	20,808		Urstadt Biddle Properties, Inc (Class A)		191
	223,467		Ventas, Inc		9,377
	661,427		VEREIT, Inc		4,299
	309,977		VICI Properties, Inc		7,244
	109,042		Vornado Realty Trust		3,676
	30,441		Washington REIT		613
	67,227		Weingarten Realty Investors		1,140
	243,431		Welltower, Inc		13,411
	417,868		Weyerhaeuser Co		11,918
	25,132	*	Whitestone REIT		151
	102,407		WP Carey, Inc		6,673
	79,064		Xenia Hotels & Resorts, Inc		694
			TOTAL REAL ESTATE		641,951
RETAILING - 7.5%
	18,290	*	1-800-FLOWERS.COM, Inc (Class A)		456
	36,804		Aaron’s, Inc		2,085
	36,579		Abercrombie & Fitch Co (Class A)		510
	39,176		Advance Auto Parts, Inc		6,014
	246,330	*	Amazon.com, Inc		775,627
	117,400	e	American Eagle Outfitters, Inc		1,739
	5,481	*	America’s Car-Mart, Inc		465
	12,332	*	Asbury Automotive Group, Inc		1,202
	17,984	*	At Home Group, Inc		267
	35,195	*	Autonation, Inc		1,863
	13,297	*	AutoZone, Inc		15,659
	76,045	e	Bed Bath & Beyond, Inc		1,139
	129,220		Best Buy Co, Inc		14,381
	20,052		Big Lots, Inc		894
	81,482	*	BJ’s Wholesale Club Holdings, Inc		3,386
	23,860	*	Booking Holdings, Inc		40,817
	9,762	*	Boot Barn Holdings, Inc		275
	14,004	e	Buckle, Inc		286
	38,902	*	Burlington Stores, Inc		8,017
	28,267		Caleres, Inc		270
	22,123		Camping World Holdings, Inc		658
	97,372	*	CarMax, Inc		8,949
	32,716	*	Carvana Co		7,298
	12,003		Cato Corp (Class A)		94
	12,596	e	Children’s Place, Inc		357
	11,556		Citi Trends, Inc		289
	13,169	*,e	Conn’s, Inc		139
	11,400	*	Container Store Group, Inc		71
	33,096		Core-Mark Holding Co, Inc		957
	49,292		Designer Brands, Inc		268
	38,579		Dick’s Sporting Goods, Inc		2,233
	3,340	e	Dillard’s, Inc (Class A)		122
	145,399		Dollar General Corp		30,479
	136,905	*	Dollar Tree, Inc		12,505
	7,236	*,e	Duluth Holdings, Inc		88
	389,824		eBay, Inc		20,310

305

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	70,655	*	Etsy, Inc	$	8,594
	78,395		Expedia Group, Inc		7,188
	34,498	*	Five Below, Inc		4,381
	48,609	*	Floor & Decor Holdings, Inc		3,636
	58,795		Foot Locker, Inc		1,942
	10,965	*,e	Funko, Inc		63
	67,461	*,e	GameStop Corp (Class A)		688
	99,905		Gap, Inc		1,701
	13,677	*	Genesco, Inc		295
	81,090		Genuine Parts Co		7,717
	11,094	e	Group 1 Automotive, Inc		981
	12,244	*	Groupon, Inc		250
	20,639	*,e	GrowGeneration Corp		330
	53,119	*	GrubHub, Inc		3,842
	10,337		Guess?, Inc		120
	13,840		Haverty Furniture Cos, Inc		290
	16,994	*,e	Hibbett Sports, Inc		666
	624,053		Home Depot, Inc		173,306
	27,375	*	Hudson Ltd		208
	101,978		Kohl’s Corp		1,890
	132,963		L Brands, Inc		4,230
	9,431	*	Lands’ End, Inc		123
	19,090	*	Liquidity Services, Inc		142
	10,868	e	Lithia Motors, Inc (Class A)		2,477
	174,884	*	LKQ Corp		4,850
	437,451		Lowe’s Companies, Inc		72,556
	19,294	*	Lumber Liquidators, Inc		425
	172,372	e	Macy’s, Inc		983
	61,168	*	Magnite, Inc		425
	18,578	*	MarineMax, Inc		477
	11,632	*,e	Michaels Cos, Inc		112
	13,761	e	Monro Muffler, Inc		558
	16,896	*	Murphy USA, Inc		2,167
	47,869	*	National Vision Holdings, Inc		1,830
	70,237	e	Nordstrom, Inc		837
	31,079	*	ODP Corp		604
	28,621	*,e	Ollie’s Bargain Outlet Holdings, Inc		2,500
	42,552	*	O’Reilly Automotive, Inc		19,620
	24,586	*	Overstock.com, Inc		1,786
	12,813		Penske Auto Group, Inc		611
	14,105	e	PetMed Express, Inc		446
	22,316		Pool Corp		7,466
	53,361	*	Quotient Technology, Inc		394
	201,751		Qurate Retail Group, Inc QVC Group		1,449
	31,889	*	RealReal, Inc		461
	30,873		Rent-A-Center, Inc		923
	8,975	*	RH		3,434
	200,574		Ross Stores, Inc		18,718
	66,571	*,e	Sally Beauty Holdings, Inc		578
	2,356	e	Shoe Carnival, Inc		79
	13,499		Shutterstock, Inc		702
	9,872	e	Signet Jewelers Ltd		185
	15,272	*	Sleep Number Corp		747
	20,728	e	Sonic Automotive, Inc (Class A)		832

306

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	19,952	*	Sportsman’s Warehouse Holdings, Inc	$	285
	8,050	*	Stamps.com, Inc		1,940
	27,087	*,e	Stitch Fix Inc		735
	291,088		Target Corp		45,823
	70,002		Tiffany & Co		8,110
	6,790		Tilly’s, Inc		41
	696,447		TJX Companies, Inc		38,757
	65,015		Tractor Supply Co		9,319
	32,239	*	Ulta Beauty, Inc		7,221
	50,352	*	Urban Outfitters, Inc		1,048
	14,221	*	Vroom, Inc		736
	38,206	*,e	Wayfair, Inc		11,118
	5,214		Weyco Group, Inc		84
	47,928		Williams-Sonoma, Inc		4,335
	1,945		Winmark Corp		335
	11,661	*	Zumiez, Inc		324
			TOTAL RETAILING		1,462,195
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 4.7%
	14,729	*	Acacia Communications, Inc		993
	26,575	*	Advanced Energy Industries, Inc		1,673
	674,860	*	Advanced Micro Devices, Inc		55,332
	15,539	*	Alpha & Omega Semiconductor Ltd		199
	23,188	*	Ambarella, Inc		1,210
	73,241	*	Amkor Technology, Inc		820
	212,013		Analog Devices, Inc		24,750
	531,186		Applied Materials, Inc		31,579
	20,849	*	Axcelis Technologies, Inc		459
	26,991	*	AXT, Inc		165
	226,895		Broadcom, Inc		82,662
	39,365		Brooks Automation, Inc		1,821
	15,710	*	Ceva, Inc		618
	36,649	*	Cirrus Logic, Inc		2,472
	26,675		Cohu, Inc		458
	62,345	*	Cree, Inc		3,974
	4,191	*	CyberOptics Corp		133
	28,713	*	Diodes, Inc		1,621
	14,071	*	DSP Group, Inc		185
	63,240	*	Enphase Energy, Inc		5,223
	76,850		Entegris, Inc		5,713
	49,996	*	First Solar, Inc		3,310
	51,293	*	Formfactor, Inc		1,279
	8,421	*	Ichor Holdings Ltd		182
	13,074	*,e	Impinj, Inc		344
	29,376	*	Inphi Corp		3,297
	2,463,924		Intel Corp		127,582
	90,227		KLA Corp		17,481
	83,558		Lam Research Corp		27,720
	75,431	*	Lattice Semiconductor Corp		2,184
	29,103	*	MACOM Technology Solutions Holdings, Inc		990
	376,817		Marvell Technology Group Ltd		14,960
	5,322	*,e	Maxeon Solar Technologies Ltd		90
	153,732		Maxim Integrated Products, Inc		10,394
	43,500	*	MaxLinear, Inc		1,011

307

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	137,006		Microchip Technology, Inc	$	14,079
	638,599	*	Micron Technology, Inc		29,989
	31,711		MKS Instruments, Inc		3,464
	25,309		Monolithic Power Systems, Inc		7,077
	18,536	*	Nanometrics, Inc		552
	21,168	*	NeoPhotonics Corp Ltd		129
	3,184		NVE Corp		156
	343,915		NVIDIA Corp		186,134
	248,719	*	ON Semiconductor Corp		5,395
	20,605	*,e	PDF Solutions, Inc		386
	46,544	*	Photronics, Inc		464
	40,270		Power Integrations, Inc		2,231
	64,112	*	Qorvo, Inc		8,271
	652,378		QUALCOMM, Inc		76,772
	79,664	*	Rambus, Inc		1,091
	38,440	*	Semtech Corp		2,036
	24,113	*	Silicon Laboratories, Inc		2,359
	5,258	*	SiTime Corp		442
	95,527		Skyworks Solutions, Inc		13,899
	2,025	*	SMART Global Holdings, Inc		55
	29,247	*	SolarEdge Technologies, Inc		6,971
	42,585	*,e	SunPower Corp		533
	17,210	*	Synaptics, Inc		1,384
	95,739		Teradyne, Inc		7,607
	533,480		Texas Instruments, Inc		76,176
	23,500	*	Ultra Clean Holdings		504
	24,314		Universal Display Corp		4,394
	34,384	*	Veeco Instruments, Inc		401
	142,635		Xilinx, Inc		14,868
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		900,703
SOFTWARE & SERVICES - 15.2%
	36,774	*	2U, Inc		1,245
	65,506	*	8x8, Inc		1,019
	32,215	*	A10 Networks, Inc		205
	369,803		Accenture plc		83,572
	68,208	*	ACI Worldwide, Inc		1,782
	280,140	*	Adobe, Inc		137,389
	92,148	*	Akamai Technologies, Inc		10,186
	26,945	*	Alarm.com Holdings, Inc		1,489
	24,151		Alliance Data Systems Corp		1,014
	16,908	*,e	Altair Engineering, Inc		710
	29,506	*,e	Alteryx, Inc		3,350
	77,492		Amdocs Ltd		4,449
	15,720	*	American Software, Inc (Class A)		221
	78,020	*	Anaplan, Inc		4,882
	50,132	*	Ansys, Inc		16,405
	9,509	*	Appfolio, Inc		1,348
	20,140	*,e	Appian Corp		1,304
	40,474	*	Aspen Technology, Inc		5,124
	74,256	*	Atlassian Corp plc		13,499
	127,090	*	Autodesk, Inc		29,359
	249,727		Automatic Data Processing, Inc		34,834
	46,044	*	Avalara, Inc		5,863

308

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	25,111	*	Avaya Holdings Corp	$	382
	11,374	*	Benefitfocus, Inc		127
	5,132	*	BigCommerce Holdings, Inc		427
	31,603	*	Bill.Com Holdings, Inc		3,170
	82,754	*	Black Knight, Inc		7,204
	34,044		Blackbaud, Inc		1,901
	29,853	*	Blackline, Inc		2,676
	80,726		Booz Allen Hamilton Holding Co		6,699
	29,562	*	Bottomline Technologies, Inc		1,246
	86,219	*	Box, Inc		1,497
	20,694	*	Brightcove, Inc		212
	63,918		Broadridge Financial Solutions, Inc		8,437
	12,641	*	CACI International, Inc (Class A)		2,695
	159,583	*	Cadence Design Systems, Inc		17,016
	20,152	*	Cardtronics plc		399
	10,596		Cass Information Systems, Inc		426
	76,663		CDK Global, Inc		3,342
	22,039	*	Cerence Inc		1,077
	63,532	*	Ceridian HCM Holding, Inc		5,251
	15,814	*	ChannelAdvisor Corp		229
	71,481		Citrix Systems, Inc		9,844
	114,390	*	Cloudera, Inc		1,246
	65,273	*	Cloudflare, Inc		2,680
	314,490		Cognizant Technology Solutions Corp (Class A)		21,832
	28,135	*	Commvault Systems, Inc		1,148
	137,713	*	Conduent, Inc		438
	48,580		CoreLogic Inc		3,287
	37,259	*	Cornerstone OnDemand, Inc		1,355
	39,352	*	Coupa Software, Inc		10,792
	87,974	*	Crowdstrike Holdings, Inc		12,081
	24,883		CSG Systems International, Inc		1,019
	83,532	*	Datadog, Inc		8,534
	7,264	*,e	Digimarc Corp		162
	49,997	*	Digital Turbine, Inc		1,637
	103,217	*	DocuSign, Inc		22,216
	11,005	*	Domo, Inc		422
	137,416	*	Dropbox, Inc		2,647
	8,296	*	Duck Creek Technologies, Inc		377
	146,671		DXC Technology Co		2,618
	106,055	*	Dynatrace, Inc		4,350
	17,480	e	Ebix, Inc		360
	33,437	*	Elastic NV		3,607
	43,380	*,e	Endurance International Group Holdings, Inc		249
	30,234	*	Envestnet, Inc		2,333
	29,695	*	EPAM Systems, Inc		9,600
	30,598	*	Euronet Worldwide, Inc		2,787
	21,053	*	Everbridge, Inc		2,647
	44,094		EVERTEC, Inc		1,530
	10,859	*	Evo Payments, Inc		270
	21,916	*	ExlService Holdings, Inc		1,446
	15,593	*	Fair Isaac Corp		6,633
	43,606	*	Fastly, Inc		4,085
	359,221		Fidelity National Information Services, Inc		52,881
	127,712	*	FireEye, Inc		1,577

309

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	323,027	*	Fiserv, Inc	$	33,288
	37,675	*	Five9, Inc		4,886
	47,157	*	FleetCor Technologies, Inc		11,228
	75,872	*	Fortinet, Inc		8,938
	50,118	*	Gartner, Inc		6,262
	104,053		Genpact Ltd		4,053
	171,961		Global Payments, Inc		30,537
	21,651	*	Globant S.A.		3,880
	93,198	*	GoDaddy, Inc		7,080
	37,008	*	GreenSky, Inc		164
	18,964	*,e	GTT Communications, Inc		98
	48,005	*	Guidewire Software, Inc		5,005
	17,956		Hackett Group, Inc		201
	24,272	*	HubSpot, Inc		7,093
	9,245	*	I3 Verticals, Inc		233
	24,668	*	Information Services Group, Inc		52
	4,355	*,e	Intelligent Systems Corp		170
	514,059		International Business Machines Corp		62,546
	13,645	*	International Money Express Inc		196
	145,503		Intuit, Inc		47,464
	27,386	*	j2 Global, Inc		1,896
	44,253		Jack Henry & Associates, Inc		7,195
	11,579	*,e	Jamf Holding Corp		435
	82,538		KBR, Inc		1,846
	74,334		Leidos Holdings, Inc		6,627
	50,961	*	Limelight Networks, Inc		294
	40,701	*	Liveperson, Inc		2,116
	44,500	*	LiveRamp Holdings, Inc		2,304
	40,270	*	Manhattan Associates, Inc		3,845
	18,418		Mantech International Corp (Class A)		1,269
	512,510		Mastercard, Inc (Class A)		173,315
	36,930		MAXIMUS, Inc		2,526
	41,794	*	Medallia, Inc		1,146
	4,350,324		Microsoft Corp		915,004
	6,844	*	MicroStrategy, Inc (Class A)		1,030
	33,586	*	Mimecast Ltd		1,576
	22,456	*	Mitek Systems, Inc		286
	40,466	*	MobileIron, Inc		284
	14,483	*	Model N, Inc		511
	29,161	*	MongoDB, Inc		6,751
	4,458	*,e	nCino, Inc		355
	30,028	*	New Relic, Inc		1,692
	46,584		NIC, Inc		918
	328,732		NortonLifelock, Inc		6,851
	176,319	*	Nuance Communications, Inc		5,852
	92,944	*	Nutanix, Inc		2,061
	68,862	*	Okta, Inc		14,726
	21,489	*	OneSpan, Inc		450
	1,115,696		Oracle Corp		66,607
	41,005	*,e	Pagerduty, Inc		1,112
	55,310	*	Palo Alto Networks, Inc		13,537
	182,234		Paychex, Inc		14,537
	27,676	*	Paycom Software, Inc		8,616
	18,614	*	Paylocity Holding Corp		3,005

310

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	683,956	*	PayPal Holdings, Inc	$	134,760
	19,229	*,e	Paysign Inc		109
	20,541		Pegasystems, Inc		2,486
	25,493	*	Perficient, Inc		1,090
	71,338		Perspecta, Inc		1,387
	8,669	*	Ping Identity Holding Corp		271
	40,409	*	Pluralsight, Inc		692
	31,483		Progress Software Corp		1,155
	34,295	*	Proofpoint, Inc		3,620
	19,034	*	PROS Holdings, Inc		608
	62,466	*	PTC, Inc		5,167
	29,530	*	Q2 Holdings, Inc		2,695
	7,729		QAD, Inc (Class A)		326
	22,512	*	Qualys, Inc		2,206
	31,056	*	Rapid7, Inc		1,902
	52,587	*	RealPage, Inc		3,031
	21,786	*	Repay Holdings Corp		512
	44,988	*	RingCentral, Inc		12,354
	13,437	*	Rosetta Stone, Inc		403
	186,641		Sabre Corp		1,215
	52,403	*	SailPoint Technologies Holding, Inc		2,074
	504,376	*	salesforce.com, Inc		126,760
	15,268		Sapiens International Corp NV		467
	32,160		Science Applications International Corp		2,522
	4,599	*	SecureWorks Corp		52
	111,321	*	ServiceNow, Inc		53,991
	4,906	*,e	ShotSpotter, Inc		152
	224,484	*	Slack Technologies, Inc		6,030
	66,115	*	Smartsheet, Inc		3,267
	16,667	*	SolarWinds Corp		339
	92,257	*	Splunk, Inc		17,356
	15,701	*	Sprout Social, Inc		604
	24,492	*	SPS Commerce, Inc		1,907
	214,516	*	Square, Inc		34,870
	130,813		SS&C Technologies Holdings, Inc		7,917
	92,903	*	StoneCo Ltd		4,914
	70,963	*	SVMK, Inc		1,569
	52,841		Switch, Inc		825
	29,262	*	Sykes Enterprises, Inc		1,001
	85,444	*	Synopsys, Inc		18,283
	20,400	*	TeleNav, Inc		73
	36,255	*	Tenable Holdings, Inc		1,369
	76,002	*	Teradata Corp		1,725
	23,414	*	Trade Desk, Inc		12,147
	10,054		TTEC Holdings, Inc		548
	6,516	*,e	Tucows, Inc		449
	76,930	*	Twilio, Inc		19,009
	22,772	*	Tyler Technologies, Inc		7,937
	38,674	*	Unisys Corp		413
	4,914	*	Upland Software, Inc		185
	55,193	*	Upwork, Inc		963
	18,823	*	Varonis Systems, Inc		2,173
	45,384	*	Verint Systems, Inc		2,187
	59,440	*	VeriSign, Inc		12,176

311

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	13,662	*,e	Veritone, Inc	$	125
	63,620	*	Verra Mobility Corp		615
	32,131	e	VirnetX Holding Corp		169
	19,953	*	Virtusa Corp		981
	980,879		Visa, Inc (Class A)		196,146
	43,180		VMware, Inc (Class A)		6,204
	229,572		Western Union Co		4,920
	27,596	*	WEX, Inc		3,835
	98,598	*	Workday, Inc		21,211
	16,351	*	Workiva, Inc		912
	41,557		Xperi Holding Corp		477
	55,032	*	Yext, Inc		835
	69,807	*	Zendesk, Inc		7,185
	42,422	*	Zix Corp		248
	98,048	*	Zoom Video Communications, Inc		46,093
	40,123	*	Zscaler, Inc		5,645
	55,037	*	Zuora Inc		569
			TOTAL SOFTWARE & SERVICES		2,944,714
TECHNOLOGY HARDWARE & EQUIPMENT - 7.3%
	74,639	*,e	3D Systems Corp		366
	35,649		Adtran, Inc		366
	11,056	*	Agilysys, Inc		267
	18,515	*,e	Akoustis Technologies, Inc		151
	167,161		Amphenol Corp (Class A)		18,099
	9,375,340		Apple, Inc		1,085,758
	13,189	*,e	Applied Optoelectronics, Inc		148
	33,832	*	Arista Networks, Inc		7,001
	47,303	*	Arlo Technologies, Inc		249
	40,463	*	Arrow Electronics, Inc		3,183
	24,161	*	Avid Technology, Inc		207
	63,498		Avnet, Inc		1,641
	19,362		Badger Meter, Inc		1,266
	7,316		Bel Fuse, Inc (Class B)		78
	30,293		Belden CDT, Inc		943
	35,867		Benchmark Electronics, Inc		723
	26,799	*	CalAmp Corp		193
	28,887	*	Calix, Inc		514
	9,824	*	Casa Systems, Inc		40
	79,859		CDW Corp		9,546
	88,003	*	Ciena Corp		3,493
	2,471,641		Cisco Systems, Inc		97,358
	8,964	*	Clearfield, Inc		181
	98,192		Cognex Corp		6,392
	14,446	*	Coherent, Inc		1,602
	115,638	*	CommScope Holding Co, Inc		1,041
	16,237		Comtech Telecommunications Corp		227
	429,454		Corning, Inc		13,919
	23,637		CTS Corp		521
	27,847		Daktronics, Inc		110
	145,832	*	Dell Technologies, Inc		9,871
	53,560	*,e	Diebold, Inc		409
	18,652	*	Digi International, Inc		292
	30,575		Dolby Laboratories, Inc (Class A)		2,027

312

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	33,587	*	EchoStar Corp (Class A)	$	836
	9,278	*	ePlus, Inc		679
	79,396	*	Extreme Networks, Inc		319
	34,732	*	F5 Networks, Inc		4,264
	26,560	*	Fabrinet		1,674
	12,851	*	FARO Technologies, Inc		784
	124,310	*	Fitbit, Inc		865
	84,050		FLIR Systems, Inc		3,013
	58,321	*,e	Harmonic, Inc		325
	707,951		Hewlett Packard Enterprise Co		6,633
	825,209		HP, Inc		15,671
	53,614	*	II-VI, Inc		2,175
	21,661	*	Immersion Corp		153
	103,799	*,e	Infinera Corp		639
	40,550	*,e	Inseego Corp		418
	16,992	*	Insight Enterprises, Inc		961
	18,324		InterDigital, Inc		1,046
	21,818	*	IPG Photonics Corp		3,708
	18,293	*	Iteris, Inc		75
	24,355	*	Itron, Inc		1,479
	88,419		Jabil Inc		3,029
	201,956		Juniper Networks, Inc		4,342
	109,424	*	Keysight Technologies, Inc		10,809
	21,162	*	Kimball Electronics, Inc		245
	64,648	*	Knowles Corp		963
	10,929	*	KVH Industries, Inc		98
	14,095		Littelfuse, Inc		2,500
	44,541	*	Lumentum Holdings, Inc		3,346
	25,950		Methode Electronics, Inc		740
	97,449		Motorola Solutions, Inc		15,281
	12,096		MTS Systems Corp		231
	7,937	*	Napco Security Technologies, Inc		187
	76,957		National Instruments Corp		2,747
	68,992	*	NCR Corp		1,527
	136,516		NetApp, Inc		5,985
	23,887	*	Netgear, Inc		736
	43,446	*	Netscout Systems, Inc		948
	20,535	*	nLight, Inc		482
	18,332	*	Novanta, Inc		1,931
	12,827	*,e	OSI Systems, Inc		995
	7,480	*,e	PAR Technology Corp		303
	8,216		PC Connection, Inc		337
	24,496	e	Plantronics, Inc		290
	17,083	*	Plexus Corp		1,207
	148,433	*	Pure Storage, Inc		2,284
	37,508	*	Ribbon Communications, Inc		145
	12,852	*	Rogers Corp		1,260
	52,368	*	Sanmina Corp		1,417
	17,777	*	Scansource, Inc		353
	26,460	*	Super Micro Computer, Inc		699
	23,676		Synnex Corp		3,316
	147,747	*	Trimble Inc		7,195
	66,124	*,e	TTM Technologies, Inc		754
	2,056		Ubiquiti, Inc		343

313

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	38,380	*	Viasat, Inc	$	1,320
	136,006	*	Viavi Solutions, Inc		1,595
	97,366		Vishay Intertechnology, Inc		1,516
	9,508	*	Vishay Precision Group, Inc		241
	173,784		Western Digital Corp		6,352
	105,309		Xerox Holdings Corp		1,977
	29,192	*	Zebra Technologies Corp (Class A)		7,370
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		1,411,295
TELECOMMUNICATION SERVICES - 1.7%
	7,472	*	Anterix, Inc		244
	4,138,948		AT&T, Inc		118,001
	7,918		ATN International, Inc		397
	10,381	*	Bandwidth Inc		1,812
	27,406	*	Boingo Wireless, Inc		279
	627,826		CenturyLink, Inc		6,335
	33,512	*	Cincinnati Bell, Inc		503
	25,280		Cogent Communications Group, Inc		1,518
	48,355	*	Consolidated Communications Holdings, Inc		275
	52,848	*	GCI Liberty, Inc		4,332
	42,541	*,e	Gogo, Inc		393
	44,962	*	IAC		5,386
	60,764	*	Iridium Communications, Inc		1,554
	29,453	*	Liberty Latin America Ltd (Class A)		243
	103,346	*	Liberty Latin America Ltd (Class C)		841
	13,047	*	Ooma, Inc		170
	44,329	*	ORBCOMM, Inc		151
	33,638		Shenandoah Telecom Co		1,495
	14,641		Spok Holdings, Inc		139
	70,982		Telephone & Data Systems, Inc		1,309
	318,946	*	T-Mobile US, Inc		36,475
	9,529	*	US Cellular Corp		281
	2,413,450		Verizon Communications, Inc		143,576
	143,849	*	Vonage Holdings Corp		1,472
			TOTAL TELECOMMUNICATION SERVICES		327,181
TRANSPORTATION - 2.0%
	37,928	*	Air Transport Services Group, Inc		951
	69,726		Alaska Air Group, Inc		2,554
	8,722		Allegiant Travel Co		1,045
	5,336		Amerco, Inc		1,900
	293,091	e	American Airlines Group, Inc		3,602
	19,331		ArcBest Corp		600
	16,948	*	Atlas Air Worldwide Holdings, Inc		1,032
	19,991	*	Avis Budget Group, Inc		526
	74,862		CH Robinson Worldwide, Inc		7,650
	14,813		Copa Holdings S.A. (Class A)		746
	23,634		Costamare, Inc		143
	8,672	*	Covenant Transportation Group, Inc		152
	441,262		CSX Corp		34,273
	14,173	*,e	Daseke, Inc		76
	381,748		Delta Air Lines, Inc		11,674
	4,116	*,e	Eagle Bulk Shipping, Inc		67
	21,041	*	Echo Global Logistics, Inc		542

314

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	91,689		Expeditors International of Washington, Inc	$	8,300
	140,787		FedEx Corp		35,411
	20,963		Forward Air Corp		1,203
	6,118		Genco Shipping & Trading Ltd		42
	36,387	e	Hawaiian Holdings, Inc		469
	6,848		Heartland Express, Inc		127
	21,791	*	Hub Group, Inc (Class A)		1,094
	50,840		JB Hunt Transport Services, Inc		6,425
	146,479	*	JetBlue Airways Corp		1,660
	56,767		Kansas City Southern		10,265
	37,438	*	Kirby Corp		1,354
	71,730		Knight-Swift Transportation Holdings, Inc		2,919
	20,412		Landstar System, Inc		2,562
	142,708	*,e	Lyft, Inc (Class A)		3,932
	43,936		Macquarie Infrastructure Co LLC		1,181
	34,852		Marten Transport Ltd		569
	32,238		Matson, Inc		1,292
	147,900		Norfolk Southern Corp		31,649
	57,372		Old Dominion Freight Line		10,380
	6,136		Park-Ohio Holdings Corp		99
	29,335	*	Radiant Logistics, Inc		151
	30,762		Ryder System, Inc		1,299
	33,371	*	Safe Bulkers, Inc		34
	13,620	*	Saia, Inc		1,718
	22,723		Schneider National, Inc		562
	4,092		Scorpio Bulkers, Inc		58
	28,022		Skywest, Inc		837
	338,643		Southwest Airlines Co		12,699
	50,261	*,e	Spirit Airlines, Inc		809
	798,391	*	Uber Technologies, Inc		29,125
	397,047		Union Pacific Corp		78,167
	173,644	*	United Airlines Holdings Inc		6,034
	411,490		United Parcel Service, Inc (Class B)		68,567
	6,297		Universal Logistics Holdings Inc		131
	14,010	*	US Xpress Enterprises, Inc		116
	36,247		Werner Enterprises, Inc		1,522
	52,058	*	XPO Logistics, Inc		4,407
			TOTAL TRANSPORTATION		394,702
UTILITIES - 2.8%
	387,805		AES Corp		7,023
	30,256		Allete, Inc		1,565
	137,659		Alliant Energy Corp		7,110
	143,050		Ameren Corp		11,312
	288,252		American Electric Power Co, Inc		23,559
	25,230		American States Water Co		1,891
	104,951		American Water Works Co, Inc		15,205
	4,909		Artesian Resources Corp		169
	92,825	*,e	Atlantic Power Corp		182
	69,836		Atmos Energy Corp		6,676
	27,653		Avangrid, Inc		1,395
	33,562		Avista Corp		1,145
	36,321		Black Hills Corp		1,943
	18,748	e	Brookfield Infrastructure Corp		1,038

315

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	39,418		Brookfield Renewable Corp	$	2,310
	15,011	*,e	Cadiz, Inc		149
	35,650		California Water Service Group		1,549
	288,758		Centerpoint Energy, Inc		5,587
	11,318		Chesapeake Utilities Corp		954
	24,011		Clearway Energy, Inc (Class A)		593
	47,061		Clearway Energy, Inc (Class C)		1,269
	170,995		CMS Energy Corp		10,501
	200,639		Consolidated Edison, Inc		15,610
	10,961		Consolidated Water Co, Inc		114
	485,215		Dominion Energy, Inc		38,298
	109,752		DTE Energy Co		12,626
	425,649		Duke Energy Corp		37,696
	204,477		Edison International		10,396
	116,501		Entergy Corp		11,479
	134,955		Essential Utilities Inc		5,432
	139,501		Evergy, Inc		7,089
	203,372		Eversource Energy		16,992
	561,990		Exelon Corp		20,097
	320,514		FirstEnergy Corp		9,202
	6,410		Global Water Resources, Inc		69
	66,960		Hawaiian Electric Industries, Inc		2,226
	24,079		Idacorp, Inc		1,924
	119,020		MDU Resources Group, Inc		2,678
	16,881		MGE Energy, Inc		1,058
	11,759		Middlesex Water Co		731
	44,613		National Fuel Gas Co		1,811
	62,202		New Jersey Resources Corp		1,681
	285,286		NextEra Energy, Inc		79,184
	211,543		NiSource, Inc		4,654
	14,483		Northwest Natural Holding Co		657
	27,636		NorthWestern Corp		1,344
	135,219		NRG Energy, Inc		4,157
	114,606		OGE Energy Corp		3,437
	29,641		ONE Gas, Inc		2,046
	20,715		Ormat Technologies, Inc		1,224
	27,545		Otter Tail Corp		996
	751,123	*,b	PG&E Corp		7,053
	62,725		Pinnacle West Capital Corp		4,676
	40,790		PNM Resources, Inc		1,686
	50,460		Portland General Electric Co		1,791
	455,249		PPL Corp		12,387
	287,400		Public Service Enterprise Group, Inc		15,781
	11,616	*	Pure Cycle Corp		105
	4,887		RGC Resources, Inc		115
	171,031		Sempra Energy		20,243
	12,005		SJW Corp		731
	58,642		South Jersey Industries, Inc		1,130
	616,755		Southern Co		33,440
	26,282		Southwest Gas Holdings Inc		1,658
	7,544	e	Spark Energy, Inc		63
	26,256		Spire, Inc		1,397
	17,984	*	Sunnova Energy International, Inc		547
	132,205		UGI Corp		4,360

316

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
	10,272		Unitil Corp	$	397
	291,990		Vistra Energy Corp		5,507
	183,758		WEC Energy Group, Inc		17,806
	301,223		Xcel Energy, Inc		20,787
	9,006		York Water Co		381
			TOTAL UTILITIES		550,074
			TOTAL COMMON STOCKS		19,302,621
			(Cost $7,720,842)
PREFERRED STOCKS - 0.0%
RETAILING - 0.0%
	1	*	Qurate Retail, Inc		0	^
			TOTAL RETAILING		0	^
			TOTAL PREFERRED STOCKS		0	^
			(Cost $0)
RIGHTS / WARRANTS - 0.0%
HEALTH CARE EQUIPMENT & SERVICES - 0.0%
	203		Pulse Biosciences, Inc		0
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		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		2
	6,981	†	Tobira Therapeutics, Inc		0	^
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		4
			TOTAL RIGHTS / WARRANTS		4
			(Cost $1)

							MATURITY
PRINCIPAL			ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 1.0%
REPURCHASE AGREEMENT - 0.2%
$	41,800,000	r	Fixed Income Clearing Corp (FICC)		0.070	%	10/01/20	41,800
			TOTAL REPURCHASE AGREEMENT					41,800
TREASURY DEBT - 0.2%
	12,140,000		United States Treasury Bill		0.090-0.130		10/08/20	12,140
	16,345,000		United States Treasury Bill		0.102		10/20/20	16,344
			TOTAL TREASURY DEBT					28,484

317

COLLEGE RETIREMENT EQUITIES FUND - Equity Index Account

				VALUE
SHARES			COMPANY	(000)
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.6%
	122,036,511	c	State Street Navigator Securities Lending Government Money Market Portfolio	$	122,037
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		122,037
			TOTAL SHORT-TERM INVESTMENTS		192,321
			(Cost $192,320)
			TOTAL INVESTMENTS - 100.6%		19,494,946
			(Cost $7,913,163)
			OTHER ASSETS & LIABILITIES, NET - (0.6)%		(115,459	)
			NET ASSETS - 100.0%	$	19,379,487

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

*	Non-income producing
^	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 theses securities have been segregated to cover margin requirements on open futures contracts.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $150,645,734.
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 9/30/20, the aggregate value of these securities is $1,185,487 or 0.0% of net assets.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $41,800,000 on 10/1/20, collateralized by U.S. Treasury Bond valued at $42,636,044.
	Cost amounts are in thousands.

Futures contracts outstanding as of September 30, 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		69	12/18/20	$	5,235	$	5,190	$	(44	)
S&P 500 E Mini Index		296	12/18/20		50,020		49,610		(411	)
S&P Mid-Cap 400 E Mini Index		36	12/18/20		6,729		6,681		(48	)
Total		401		$	61,984	$	61,481	$	(503	)

318

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

COLLEGE RETIREMENT EQUITIES FUND

BOND MARKET ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
BANK LOAN OBLIGATIONS - 0.8%
AUTOMOBILES & COMPONENTS - 0.0%
$	989,975	i	Adient US LLC	LIBOR 1 and 3 M + 4.250%		4.397	%	05/06/24	$	977
	992,481	i	Clarios Global LP	LIBOR 1 M + 3.500%		3.647		04/30/26		966
	2,477,021	i	Gates Global LLC	LIBOR 1 M + 2.750%		3.750		04/01/24		2,437
			TOTAL AUTOMOBILES & COMPONENTS							4,380
CAPITAL GOODS - 0.1%
	174,057	i	Avolon TLB Borrower US LLC	LIBOR 1 M + 1.750%		2.500		01/15/25		169
	223,875	i	Avolon TLB Borrower US LLC	LIBOR 1 M + 1.500%		2.250		02/12/27		215
	1,484,772	i	Beacon Roofing Supply, Inc	LIBOR 1 M + 2.250%		2.397		01/02/25		1,436
	1,000,000	h,i	Cornerstone Building Brands, Inc	LIBOR 1 M + 3.750%		3.895		04/12/25		980
	997,500	i	Gardner Denver, Inc	LIBOR 1 M + 2.750%		2.897		03/01/27		982
	738,713	i	Prometric Holdings Inc	LIBOR 1 M + 3.000%		4.000		01/29/25		685
	1,368,553	i	TransDigm, Inc	LIBOR 1 M + 2.250%		2.397		08/22/24		1,293
	1,484,971	i	TransDigm, Inc	LIBOR 1 M + 2.250%		2.397		05/30/25		1,401
			TOTAL CAPITAL GOODS							7,161
COMMERCIAL & PROFESSIONAL SERVICES - 0.1%
	2,530,928	h,i	GFL Environmental, Inc	LIBOR 3 M + 3.000%		4.000		05/30/25		2,517
	596,939	i	Packers Holdings LLC	LIBOR 1 M + 3.000%		4.000		12/04/24		585
	2,000,000	h,i	Prime Security Services Borrower LLC	LIBOR 1 and 3 M + 3.250%		4.250		09/23/26		1,980
	992,308	i	Spin Holdco, Inc	LIBOR 3 M + 3.250%		4.250		11/14/22		970
	1,912,012	i	Syneos Health Inc	LIBOR 1 M + 1.750%		1.897		08/01/24		1,867
	1,927,308	i	Trans Union LLC	LIBOR 1 M + 1.750%		1.897		11/16/26		1,876
	1,029,000	i	United Rentals North America, Inc	LIBOR 1 M + 1.750%		1.897		10/31/25		1,024
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES							10,819
CONSUMER DURABLES & APPAREL - 0.0%
	540,000	i	Hanesbrands, Inc	LIBOR 1 M + 1.750%		1.897		12/16/24		533
	395,570	i	Samsonite IP Holdings Sarl	LIBOR 1 M + 1.750%		1.897		04/25/25		370
			TOTAL CONSUMER DURABLES & APPAREL							903
CONSUMER SERVICES - 0.1%
	443,655	i	1011778 BC ULC	LIBOR 1 M + 1.750%		1.897		11/19/26		425
	322,596	i	Boyd Gaming Corp	LIBOR 1 W + 2.250%		2.356		09/15/23		313
	1,979,695	i	Scientific Games International, Inc	LIBOR 1 and 3 M + 2.750%		2.897		08/14/24		1,858
	1,575,000	h,i	Sophia LP	LIBOR 3 M + 3.750%		5.000		09/22/27		1,563
	1,686,155	i	YUM! Brands	LIBOR 1 M + 1.750%		1.900		04/03/25		1,644
			TOTAL CONSUMER SERVICES							5,803
DIVERSIFIED FINANCIALS - 0.0%
	877,493	i	Lions Gate Capital Holdings LLC	LIBOR 1 M + 2.250%		2.397		03/24/25		845
	1,775,000	h,i	Reynolds Group Holdings, Inc	LIBOR 1 M + 3.250%		2.897		02/06/23		1,741
			TOTAL DIVERSIFIED FINANCIALS							2,586
ENERGY - 0.0%
	1,990,000	i	Buckeye Partners LP	LIBOR 1 M + 2.750%		2.897		11/02/26		1,950

319

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	567,813	i	ChampionX Holding, Inc	LIBOR 3 M + 5.000%		6.000	%	06/03/27	$	564
	1,979,784	i	Delek US Holdings, Inc	LIBOR 1 M + 2.250%		2.397		03/31/25		1,867
			TOTAL ENERGY							4,381
FOOD, BEVERAGE & TOBACCO - 0.0%
	893,233	i	Hostess Brands LLC	LIBOR 1 and 3 M + 2.250%		3.000		08/01/25		877
	1,000,000	h,i	Shearer’s Foods LLC	LIBOR 3 M + 4.000%		4.750		09/15/27		992
			TOTAL FOOD, BEVERAGE & TOBACCO							1,869
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	1,444,145	i	Change Healthcare Holdings LLC	LIBOR 1 and 3 M + 2.500%		3.500		03/01/24		1,412
	1,995,000	i	Da Vinci Purchaser Corp	LIBOR 3 M + 4.000%		5.238		01/08/27		1,968
	990,019	i	DaVita, Inc	LIBOR 1 M + 1.750%		1.897		08/12/26		971
	2,601,707	i	Endo Luxembourg Finance I Co Sarl	LIBOR 3 M + 4.250%		5.000		04/29/24		2,472
	1,028,819	i	Envision Healthcare Corp	LIBOR 1 M + 3.750%		3.906		10/10/25		740
	2,456,438	i	Grifols Worldwide Operations USA, Inc	LIBOR 1 W + 2.000%		2.100		11/15/27		2,403
	161,413	i	Mallinckrodt International Finance S.A.	LIBOR 3 M + 2.750%		3.500		09/24/24		135
	2,325,930	i	RegionalCare Hospital Partners Holdings, Inc	LIBOR 1 M + 3.750%		3.897		11/16/25		2,256
	2,920,100	i	Select Medical Corp	LIBOR 3 M + 2.500%		2.780		03/06/25		2,836
	1,420,551	i	Team Health Holdings, Inc	LIBOR 1 M + 2.750%		3.750		02/06/24		1,188
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							16,381
INSURANCE - 0.0%
	775,000	h,i	Alera Group Intermediate Holdings, Inc	LIBOR 3 M + 4.000%		5.000		09/25/25		761
	1,990,000	i	NFP Corp	LIBOR 1 M + 3.250%		3.397		02/15/27		1,909
	2,480,818	i	USI, Inc	LIBOR 3 M + 3.000%		3.220		05/16/24		2,396
			TOTAL INSURANCE							5,066
MATERIALS - 0.1%
	1,750,000	i	Asplundh Tree Expert LLC	LIBOR 1 M + 2.500%		2.655		09/07/27		1,747
	985,721	i	Atotech Alpha 3 BV	LIBOR 3 M + 3.000%		4.000		01/31/24		969
	1,000,000	i	Berry Global, Inc	LIBOR 1 M + 2.000%		2.156		10/01/22		990
	1,442,001	i	Berry Global, Inc	LIBOR 1 M + 2.000%		2.156		01/19/24		1,418
	1,718,943	i	Chemours Co	LIBOR 1 M + 1.750%		1.900		04/03/25		1,654
	2,000,000	h,i	Illuminate Buyer LLC	LIBOR 1 M + 4.000%		4.308		06/30/27		1,981
	487,500	i	Ineos US Finance LLC	LIBOR 1 M + 2.000%		2.147		03/31/24		473
	1,901,521	i	Messer Industries USA, Inc	LIBOR 3 M + 2.500%		2.720		03/01/26		1,859
	1,379,670	i	PolyOne Corp	LIBOR 1 M + 1.750%		1.895		01/30/26		1,351
	334,109	i	Reynolds Consumer Products LLC	LIBOR 1 M + 1.750%		1.906		02/04/27		330
	431,844	i	Starfruit US Holdco LLC	LIBOR 1 M + 3.000%		3.151		10/01/25		417
	992,481	i	Tamko Building Products, Inc	LIBOR 1 M + 3.250%		3.397		05/29/26		975
			TOTAL MATERIALS							14,164
MEDIA & ENTERTAINMENT - 0.1%
	425,000	h,i	Cablevision Lightpath LLC	LIBOR 3 M + 3.250%		4.250		12/31/27		422
	1,980,000	i	Charter Communications Operating LLC	LIBOR 1 M + 1.750%		1.900		02/01/27		1,932
	719,572	i	CSC Holdings LLC	LIBOR 1 M + 2.500%		2.652		04/15/27		696
	990,000	i	Diamond Sports Group LLC	LIBOR 1 M + 3.250%		3.400		08/24/26		764
	531,738	i	Nielsen Finance LLC	LIBOR 1 M + 2.000%		2.154		10/04/23		521
	2,369,063	i	Nielsen Finance LLC	LIBOR 1 M + 3.750%		4.750		06/06/25		2,364
	496,250	i	Pregis TopCo Corp	LIBOR 1 M + 3.750%		3.897		07/31/26		489
	1,550,000	h,i	Radiate Holdco LLC	LIBOR 1 M + 3.500%		4.250		09/11/26		1,521
	800,000	i	SkyMiles IP Ltd	LIBOR 3 M + 3.750%		4.750		10/20/27		805

320

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	992,500	i	Terrier Media Buyer, Inc	LIBOR 1 M + 4.250%		4.397	%	12/17/26	$	967
	1,712,500	i	Vertical US Newco, Inc	LIBOR 6 M + 4.250%		4.570		07/31/27		1,696
	2,250,000	i	Virgin Media Bristol LLC	LIBOR 1 M + 2.500%		2.652		01/31/28		2,181
			TOTAL MEDIA & ENTERTAINMENT							14,358
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.1%
	1,841,898	i	Bausch Health Americas, Inc	LIBOR 1 M + 3.000%		3.151		06/02/25		1,803
	1,828,571	i	Bausch Health Americas, Inc	LIBOR 1 M + 2.750%		2.901		11/27/25		1,783
	2,487,374	i	Catalent Pharma Solutions, Inc	LIBOR 1 M + 2.250%		3.250		05/18/26		2,472
	494,778	i	Jaguar Holding Co II	LIBOR 1 M + 2.500%		3.500		08/18/22		492
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES							6,550
REAL ESTATE - 0.0%
	1,375,588	i	Cushman & Wakefield plc	LIBOR 1 M + 2.750%		2.897		08/21/25		1,324
			TOTAL REAL ESTATE							1,324
RETAILING - 0.0%
	322,563	i	Camelot Finance S.A.	LIBOR 1 M + 3.250%		3.147		10/28/26		316
			TOTAL RETAILING							316
SOFTWARE & SERVICES - 0.1%
	1,000,000	h,i	Camelot US Acquisition	LIBOR 3 M + 3.000%		4.250		10/31/26		995
	675,000	h,i	Hyland Software, Inc	LIBOR 1 M + 3.500%		4.500		07/01/24		671
	1,979,695	i	Open Text Corp	LIBOR 1 M + 1.750%		1.911		05/30/25		1,963
	1,500,000	h,i	Rackspace Technology Global, Inc	LIBOR 3 M + 3.000%		4.000		11/03/23		1,470
	992,443	i	Rocket Software, Inc	LIBOR 1 M + 4.250%		4.397		11/28/25		971
	96,280	i	Sabre GLBL, Inc	LIBOR 1 M + 2.000%		2.147		02/22/24		90
	1,625,000	i	Ultimate Software Group, Inc	LIBOR 3 M + 4.000%		4.750		05/04/26		1,619
	1,750,000	i	Web.com Group Inc	LIBOR 1 M + 3.750%		3.901		10/10/25		1,687
			TOTAL SOFTWARE & SERVICES							9,466
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
	2,417,821	i	Dell International LLC	LIBOR 1 M + 2.000%		2.750		09/19/25		2,405
	1,259,245	i	Plantronics, Inc	LIBOR 1 and 3 M + 2.500%		2.656		07/02/25		1,180
	755,472	i	TTM Technologies, Inc	LIBOR 1 M + 2.500%		2.655		09/28/24		740
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							4,325
TELECOMMUNICATION SERVICES - 0.0%
	696,500	i	Front Range BidCo, Inc	LIBOR 1 M + 3.000%		3.147		03/09/27		675
	4,488,750	i	T-Mobile USA, Inc	LIBOR 1 M + 3.000%		3.147		04/01/27		4,482
			TOTAL TELECOMMUNICATION SERVICES							5,157
TRANSPORTATION - 0.0%
	1,642,871	i	American Airlines, Inc	LIBOR 1 M + 2.000%		2.152		12/14/23		1,337
	473,813	i	Delta Air Lines, Inc	LIBOR 3 M + 4.750%		5.750		05/01/23		473
			TOTAL TRANSPORTATION							1,810
UTILITIES - 0.0%
	992,211	i	Gopher Resource LLC	LIBOR 1 M + 3.250%		4.250		03/06/25		960
			TOTAL UTILITIES							960
			TOTAL BANK LOAN OBLIGATIONS							117,779
			(Cost $120,820)

321

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
BONDS - 95.1%
CORPORATE BONDS - 40.5%
AUTOMOBILES & COMPONENTS - 0.4%
EUR	450,000	g	Adient Global Holdings Ltd		3.500	%	08/15/24	$	485
$	2,500,000	g	Adient Global Holdings Ltd		4.875		08/15/26		2,381
	350,000	g	Adient US LLC		9.000		04/15/25		386
EUR	500,000		Aptiv plc		1.500		03/10/25		609
$	225,000		Dana, Inc		5.375		11/15/27		231
	350,000		Dana, Inc		5.625		06/15/28		361
	1,250,000		Ford Motor Co		8.500		04/21/23		1,362
	1,275,000		Ford Motor Co		9.000		04/22/25		1,462
	11,000,000		General Motors Co		6.125		10/01/25		12,776
	5,600,000		General Motors Co		5.000		10/01/28		6,298
	6,950,000		General Motors Co		6.600		04/01/36		8,448
	6,500,000		General Motors Co		5.200		04/01/45		6,991
	1,925,000		General Motors Co		6.750		04/01/46		2,370
EUR	400,000	g,o	IHO Verwaltungs GmbH		3.750		09/15/26		468
$	8,675,000		Magna International, Inc		3.625		06/15/24		9,553
EUR	300,000		Volkswagen Bank GmbH		2.500		07/31/26		383
			TOTAL AUTOMOBILES & COMPONENTS						54,564
BANKS - 7.6%
$	8,250,000	g	Australia & New Zealand Banking Group Ltd		2.950		07/22/30		8,549
	3,800,000	g	Banco del Estado de Chile		2.668		01/08/21		3,810
	5,250,000	g	Banco del Estado de Chile		2.704		01/09/25		5,519
	300,000	g	Banco General S.A.		4.125		08/07/27		331
	3,800,000	g	Banco Internacional del Peru SAA Interbank		3.375		01/18/23		3,933
	3,225,000	g	Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand		5.375		04/17/25		3,586
	5,950,000		Banco Santander S.A.		2.746		05/28/25		6,252
	3,800,000		Banco Santander S.A.		3.800		02/23/28		4,176
	2,400,000		Bancolombia S.A.		3.000		01/29/25		2,404
	2,650,000		Bancolombia S.A.		4.625		12/18/29		2,574
	2,750,000	g	Banistmo S.A.		4.250		07/31/27		2,797
	6,300,000	g	Bank Leumi Le-Israel BM		3.275		01/29/31		6,331
	5,000,000		Bank of America Corp		3.550		03/05/24		5,326
EUR	400,000		Bank of America Corp		1.375		03/26/25		494
$	10,200,000		Bank of America Corp		3.875		08/01/25		11,580
	7,100,000		Bank of America Corp		1.319		06/19/26		7,143
	8,000,000		Bank of America Corp		4.250		10/22/26		9,258
EUR	300,000		Bank of America Corp		1.776		05/04/27		378
$	18,265,000		Bank of America Corp		3.248		10/21/27		20,172
	9,650,000		Bank of America Corp		3.824		01/20/28		10,934
	10,650,000		Bank of America Corp		3.419		12/20/28		11,863
	11,475,000		Bank of America Corp		2.884		10/22/30		12,386
	50,500,000		Bank of America Corp		2.496		02/13/31		52,641
	17,450,000		Bank of America Corp		2.592		04/29/31		18,427
	39,350,000		Bank of America Corp		1.898		07/23/31		39,177
	18,000,000		Bank of America Corp		4.083		03/20/51		22,241
	5,000,000		Bank of America Corp		6.250		N/A‡		5,356
	3,000,000		Bank of America Corp		6.100		N/A‡		3,266
EUR	400,000		Barclays plc		0.625		11/14/23		471

322

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	5,900,000		Barclays plc		4.338	%	05/16/24	$	6,334
	10,000,000		Barclays plc		3.932		05/07/25		10,768
	11,000,000	g	BNP Paribas S.A.		2.819		11/19/25		11,604
	3,400,000	g	BNP Paribas S.A.		2.219		06/09/26		3,506
	6,300,000	g	BNP Paribas S.A.		1.904		09/30/28		6,271
	7,300,000	g	BNP Paribas S.A.		3.052		01/13/31		7,841
	5,700,000	g	BNP Paribas S.A.		2.588		08/12/35		5,531
	7,674,000	g	BPCE S.A.		4.625		07/11/24		8,450
	2,950,000		Citigroup, Inc		2.700		10/27/22		3,075
	8,500,000		Citigroup, Inc		3.875		03/26/25		9,351
EUR	250,000		Citigroup, Inc		1.500		07/24/26		308
$	36,375,000		Citigroup, Inc		3.200		10/21/26		40,108
	6,575,000		Citigroup, Inc		4.300		11/20/26		7,526
	21,485,000		Citigroup, Inc		4.450		09/29/27		24,887
	49,250,000		Citigroup, Inc		2.666		01/29/31		51,800
	11,000,000		Citigroup, Inc		4.412		03/31/31		13,193
	7,125,000		Citigroup, Inc		2.572		06/03/31		7,489
	4,000,000		Citigroup, Inc		6.300		N/A‡		4,190
	5,000,000		Citigroup, Inc		5.000		N/A‡		4,975
	7,400,000		Citizens Bank NA		2.650		05/26/22		7,647
	6,875,000		Cooperatieve Rabobank UA		3.950		11/09/22		7,305
	4,500,000	g	Cooperatieve Rabobank UA		2.625		07/22/24		4,801
	15,225,000		Cooperatieve Rabobank UA		3.750		07/21/26		16,952
	4,325,000	g	Credicorp Ltd		2.750		06/17/25		4,379
	11,050,000	g	Credit Agricole S.A.		3.250		10/04/24		11,941
	10,350,000	g	Credit Agricole S.A.		1.907		06/16/26		10,583
	2,450,000	g	DBS Group Holdings Ltd		4.520		12/11/28		2,675
	4,875,000		Discover Bank		3.200		08/09/21		4,973
	8,200,000		Discover Bank		2.450		09/12/24		8,650
	8,455,000		Discover Bank		3.450		07/27/26		9,253
	4,575,000		Discover Bank		2.700		02/06/30		4,784
GBP	500,000		HSBC Holdings plc		2.175		06/27/23		655
$	4,250,000		HSBC Holdings plc		3.033		11/22/23		4,433
	3,325,000		HSBC Holdings plc		2.633		11/07/25		3,463
	6,100,000		HSBC Holdings plc		1.645		04/18/26		6,083
	6,075,000		HSBC Holdings plc		3.900		05/25/26		6,713
	20,075,000		HSBC Holdings plc		4.292		09/12/26		22,354
	1,250,000		HSBC Holdings plc		4.375		11/23/26		1,379
	6,450,000		HSBC Holdings plc		4.041		03/13/28		7,125
	4,200,000		HSBC Holdings plc		2.013		09/22/28		4,155
	4,375,000		HSBC Holdings plc		4.950		03/31/30		5,265
	8,950,000		HSBC Holdings plc		3.973		05/22/30		10,014
	3,850,000		HSBC Holdings plc		2.357		08/18/31		3,810
	13,025,000		Huntington National Bank		2.500		08/07/22		13,495
	3,375,000	g	ICICI Bank Ltd		3.800		12/14/27		3,488
	4,350,000	g	ING Groep NV		4.625		01/06/26		5,101
	15,200,000	g	ING Groep NV		1.400		07/01/26		15,370
	2,125,000	g	Intercorp Financial Services, Inc		4.125		10/19/27		2,170
	4,850,000		JPMorgan Chase & Co		2.700		05/18/23		5,121
	35,850,000		JPMorgan Chase & Co		2.301		10/15/25		37,712
	20,000,000		JPMorgan Chase & Co		2.005		03/13/26		20,765
	14,900,000		JPMorgan Chase & Co		3.200		06/15/26		16,523

323

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
EUR	600,000		JPMorgan Chase & Co		1.638	%	05/18/28	$	753
$	12,000,000		JPMorgan Chase & Co		4.203		07/23/29		14,195
	23,700,000		JPMorgan Chase & Co		3.702		05/06/30		27,183
	44,675,000		JPMorgan Chase & Co		2.739		10/15/30		48,095
	23,000,000		JPMorgan Chase & Co		4.493		03/24/31		28,026
	33,550,000		JPMorgan Chase & Co		2.522		04/22/31		35,710
	4,575,000		JPMorgan Chase & Co		2.956		05/13/31		4,890
	5,500,000		JPMorgan Chase & Co		5.000		N/A‡		5,491
	9,000,000		Mitsubishi UFJ Financial Group, Inc		2.193		02/25/25		9,424
	5,700,000		MUFG Americas Holdings Corp		3.500		06/18/22		5,974
	8,850,000		Natwest Group plc		3.032		11/28/35		8,501
	3,100,000	g	Oversea-Chinese Banking Corp Ltd		1.832		09/10/30		3,090
	5,625,000		PNC Bank NA		2.450		11/05/20		5,626
	4,000,000		PNC Bank NA		2.700		10/22/29		4,327
	6,000,000		PNC Financial Services Group, Inc		3.900		04/29/24		6,608
	11,800,000		Royal Bank of Canada		2.550		07/16/24		12,621
	6,325,000		Royal Bank of Scotland Group plc		3.073		05/22/28		6,643
	9,350,000		Santander Holdings USA, Inc		3.400		01/18/23		9,789
	13,100,000	g	Skandinaviska Enskilda Banken AB		2.625		11/17/20		13,139
	3,675,000		Sumitomo Mitsui Financial Group, Inc		2.778		10/18/22		3,835
	11,050,000		Sumitomo Mitsui Financial Group, Inc		2.696		07/16/24		11,755
	11,000,000		Toronto-Dominion Bank		1.150		06/12/25		11,176
	2,350,000		Toronto-Dominion Bank		3.625		09/15/31		2,640
	6,850,000		Truist Bank		3.525		10/26/21		6,864
	5,700,000		Truist Bank		2.750		05/01/23		6,012
	4,800,000		Truist Bank		2.150		12/06/24		5,081
	5,000,000		Truist Financial Corp		4.000		05/01/25		5,684
	5,000,000		Truist Financial Corp		4.950		N/A‡		5,263
	4,000,000		Truist Financial Corp		4.800		N/A‡		4,015
	450,000	g	UniCredit S.p.A		2.569		09/22/26		444
	2,550,000	g	United Overseas Bank Ltd		3.750		04/15/29		2,720
	4,650,000		Westpac Banking Corp		2.850		05/13/26		5,145
	6,450,000		Westpac Banking Corp		4.110		07/24/34		7,247
			TOTAL BANKS						1,125,685
CAPITAL GOODS - 1.0%
GBP	1,000,000		BAE Systems plc		4.125		06/08/22		1,358
$	4,175,000	g	BAE Systems plc		3.400		04/15/30		4,672
	2,475,000	g	BAE Systems plc		1.900		02/15/31		2,449
	225,000	g	Beacon Roofing Supply, Inc		4.500		11/15/26		232
	3,600,000	g	BOC Aviation Ltd		3.000		09/11/29		3,661
	1,775,000	g	Embraer Netherlands Finance BV		6.950		01/17/28		1,797
	1,432,000		General Electric Co		5.875		01/14/38		1,669
	108,000		General Electric Co		6.875		01/10/39		138
	1,850,000	g	Gold Fields Orogen Holdings BVI Ltd		6.125		05/15/29		2,151
EUR	500,000		Honeywell International, Inc		0.000		03/10/24		586
$	275,000		Howmet Aerospace, Inc		6.875		05/01/25		304
	1,000,000		Ingersoll-Rand Global Holding Co Ltd		3.750		08/21/28		1,148
	13,245,000		Ingersoll-Rand Luxembourg Finance S.A.		3.800		03/21/29		15,520
	2,175,000		Johnson Controls International plc		1.750		09/15/30		2,193
	3,000,000	g	Korea East-West Power Co Ltd		1.750		05/06/25		3,100
	3,150,000		L3Harris Technologies, Inc		3.850		06/15/23		3,410
	5,070,000		L3Harris Technologies, Inc		2.900		12/15/29		5,533

324

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,340,000		Lockheed Martin Corp		2.500	%	11/23/20	$	3,344
	1,700,000		Lockheed Martin Corp		1.850		06/15/30		1,768
	2,150,000		Lockheed Martin Corp		2.800		06/15/50		2,233
	9,825,000	g	Molex Electronic Technologies LLC		3.900		04/15/25		10,210
	8,925,000		Northrop Grumman Corp		3.250		01/15/28		10,023
EUR	500,000		Parker-Hannifin Corp		1.125		03/01/25		599
$	19,200,000		Parker-Hannifin Corp		3.250		06/14/29		21,490
	6,600,000		Raytheon Technologies Corp		2.250		07/01/30		6,932
	5,475,000		Roper Technologies, Inc		3.800		12/15/26		6,317
	1,750,000		Roper Technologies, Inc		4.200		09/15/28		2,088
	1,000,000		Roper Technologies, Inc		2.950		09/15/29		1,100
	250,000	g	Sigma Alimentos S.A. de C.V.		4.125		05/02/26		266
	650,000		Trimble, Inc		4.900		06/15/28		766
	4,000,000	g	TSMC Global Ltd		0.750		09/28/25		3,963
	4,000,000	g	TSMC Global Ltd		1.000		09/28/27		3,929
	361,000		United Technologies Corp		3.650		08/16/23		390
	16,850,000		United Technologies Corp		4.125		11/16/28		19,941
	6,665,000		United Technologies Corp		4.500		06/01/42		8,399
	400,000	g	WESCO Distribution, Inc		7.125		06/15/25		436
	300,000	g	WESCO Distribution, Inc		7.250		06/15/28		329
	975,000		Xylem, Inc		2.250		01/30/31		1,033
			TOTAL CAPITAL GOODS						155,477
COMMERCIAL & PROFESSIONAL SERVICES - 0.4%
	875,000		AECOM		5.875		10/15/24		947
	325,000	g	ASGN, Inc		4.625		05/15/28		326
	250,000	g	GFL Environmental, Inc		4.250		06/01/25		252
	1,000,000	g,h	GFL Environmental, Inc		3.750		08/01/25		997
	1,950,000		IHS Markit Ltd		4.125		08/01/23		2,121
	3,175,000		IHS Markit Ltd		4.250		05/01/29		3,683
	2,350,000	g	Prime Security Services Borrower LLC		5.250		04/15/24		2,462
	2,000,000	g	Prime Security Services Borrower LLC		5.750		04/15/26		2,139
	1,325,000	g	Prime Security Services Borrower LLC		3.375		08/31/27		1,274
	725,000	g	Prime Security Services Borrower LLC		6.250		01/15/28		734
EUR	500,000		RELX Capital, Inc		1.300		05/12/25		618
$	11,102,000		Republic Services, Inc		3.550		06/01/22		11,582
	7,971,000		Republic Services, Inc		2.900		07/01/26		8,813
	1,000,000		United Rentals North America, Inc		4.625		10/15/25		1,023
	1,250,000		Verisk Analytics, Inc		4.125		03/15/29		1,473
	1,050,000		Verisk Analytics, Inc		3.625		05/15/50		1,195
	9,650,000		Waste Management, Inc		2.900		09/15/22		10,057
	2,225,000		Waste Management, Inc		4.100		03/01/45		2,718
	3,475,000		Waste Management, Inc		4.150		07/15/49		4,426
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES						56,840
CONSUMER DURABLES & APPAREL - 0.0%
	1,600,000		Leggett & Platt, Inc		4.400		03/15/29		1,773
	149,000		Newell Brands, Inc		4.875		06/01/25		161
			TOTAL CONSUMER DURABLES & APPAREL						1,934
CONSUMER SERVICES - 0.8%
	9,820,000		Amherst College		4.100		11/01/45		11,938
	29,085,000		Anheuser-Busch Cos LLC		3.650		02/01/26		32,506
	9,500,000		Anheuser-Busch Cos LLC		4.900		02/01/46		11,776

325

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,100,000	g	Arcos Dorados Holdings, Inc		5.875	%	04/04/27	$	1,150
	1,825,000	g	Cedar Fair LP		5.500		05/01/25		1,875
	125,000	g	Hilton Domestic Operating Co, Inc		5.375		05/01/25		130
	125,000	g	Hilton Domestic Operating Co, Inc		5.750		05/01/28		132
	925,000	g	International Game Technology plc		6.250		02/15/22		945
	1,610,000	g	International Game Technology plc		6.500		02/15/25		1,717
	775,000	g	MGM China Holdings Ltd		5.250		06/18/25		785
	8,000,000		President and Fellows of Harvard College		3.529		10/01/31		9,699
	14,250,000		President and Fellows of Harvard College		3.619		10/01/37		17,265
	2,100,000		Sands China Ltd		5.400		08/08/28		2,336
	1,000,000	g	Scientific Games International, Inc		5.000		10/15/25		1,006
EUR	500,000		Scientific Games International, Inc		3.375		02/15/26		557
$	15,000,000		Smith College		4.620		07/01/45		19,937
	1,125,000	g	Wynn Macau Ltd		5.500		01/15/26		1,109
	100,000	g	Yum! Brands, Inc		7.750		04/01/25		110
			TOTAL CONSUMER SERVICES						114,973
DIVERSIFIED FINANCIALS - 3.5%
	3,500,000		AerCap Ireland Capital DAC		3.650		07/21/27		3,204
	7,000,000		AerCap Ireland Capital DAC		4.625		10/15/27		6,789
	5,525,000		American Express Co		2.500		08/01/22		5,721
	4,000,000		American Express Co		3.700		08/03/23		4,333
	2,775,000		American Express Credit Corp		3.300		05/03/27		3,133
EUR	425,000		American Honda Finance Corp		1.950		10/18/24		534
$	3,975,000		Ameriprise Financial, Inc		3.000		03/22/22		4,124
	6,000,000		Australia & New Zealand Banking Group Ltd		2.625		05/19/22		6,227
	300,000	g	Bangkok Bank PCL		3.733		09/25/34		294
	5,350,000		Bank of Montreal		3.803		12/15/32		5,960
	1,650,000	g	BBVA Bancomer S.A.		1.875		09/18/25		1,612
	300,000	g	BBVA Bancomer S.A.		5.350		11/12/29		297
	1,500,000	g	BBVA Bancomer S.A.		5.125		01/18/33		1,444
	4,525,000		Berkshire Hathaway, Inc		3.125		03/15/26		5,051
	20,775,000		Capital One Bank USA NA		3.375		02/15/23		21,955
EUR	150,000		Capital One Financial Corp		0.800		06/12/24		176
$	6,250,000		Community Preservation Corp		2.867		02/01/30		6,690
	9,800,000	g	Credit Suisse Group AG.		2.997		12/14/23		10,200
	8,475,000	g	Credit Suisse Group AG.		2.193		06/05/26		8,751
GBP	300,000		Credit Suisse Group AG.		2.250		06/09/28		397
$	8,525,000	g	Credit Suisse Group AG.		4.194		04/01/31		9,836
	7,700,000		Credit Suisse Group Funding Guernsey Ltd		3.800		06/09/23		8,280
	10,250,000		Credit Suisse Group Funding Guernsey Ltd		3.750		03/26/25		11,356
GBP	300,000		Danske Bank A.S.		2.250		01/14/28		393
$	9,325,000		Deutsche Bank AG.		3.547		09/18/31		9,370
EUR	500,000		EDP Finance BV		1.125		02/12/24		608
$	4,000,000		Ford Motor Credit Co LLC		3.096		05/04/23		3,906
	4,825,000		GE Capital International Funding Co		3.373		11/15/25		5,146
	25,700,000		GE Capital International Funding Co		4.418		11/15/35		27,161
	20,000,000		General Motors Financial Co, Inc		2.750		06/20/25		20,486
	5,475,000		General Motors Financial Co, Inc		5.650		01/17/29		6,391
	11,000,000		General Motors Financial Co, Inc		3.600		06/21/30		11,341
	5,450,000		General Motors Financial Co, Inc		5.700		N/A‡		5,470
EUR	850,000		Goldman Sachs Group, Inc		2.000		07/27/23		1,050
$	13,575,000		Goldman Sachs Group, Inc		3.500		01/23/25		14,892

326

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	26,625,000		Goldman Sachs Group, Inc		3.691	%	06/05/28	$	29,850
	7,400,000		Goldman Sachs Group, Inc		2.600		02/07/30		7,808
	6,075,000		Goldman Sachs Group, Inc		4.017		10/31/38		7,076
	7,675,000		Goldman Sachs Group, Inc		4.800		07/08/44		10,026
	1,162,925		Golondrina Leasing LLC		1.822		05/03/25		1,198
	4,000,000	g	Grupo Aval Ltd		4.750		09/26/22		4,095
	3,325,000	g	Grupo Aval Ltd		4.375		02/04/30		3,209
	5,000,000		International Lease Finance Corp		5.875		08/15/22		5,350
	1,305,000		Legg Mason, Inc		3.950		07/15/24		1,443
	19,000,000		Morgan Stanley		2.188		04/28/26		19,889
	37,625,000		Morgan Stanley		3.125		07/27/26		41,535
EUR	700,000		Morgan Stanley		1.342		10/23/26		860
$	6,900,000		Morgan Stanley		3.625		01/20/27		7,794
	21,500,000		Morgan Stanley		2.699		01/22/31		22,953
	3,350,000	g	Power Finance Corp Ltd		3.950		04/23/30		3,245
	6,080,000		Shire Acquisitions Investments Ireland DAC		3.200		09/23/26		6,759
	550,000		Springleaf Finance Corp		5.375		11/15/29		572
	2,600,000	g	Swiss Re Finance Luxembourg SA		5.000		04/02/49		2,963
	2,150,000		Synchrony Financial		4.375		03/19/24		2,331
	7,119,000		Synchrony Financial		4.250		08/15/24		7,735
	5,000,000	g	UBS AG.		2.450		12/01/20		5,009
	10,157,000	g	UBS Group AG.		2.859		08/15/23		10,546
	5,900,000	g	UBS Group AG.		3.126		08/13/30		6,548
	1,000,000		Voya Financial, Inc		5.700		07/15/43		1,339
	8,400,000		Wells Fargo & Co		3.750		01/24/24		9,125
	5,300,000		Wells Fargo & Co		3.550		09/29/25		5,893
	5,600,000		Wells Fargo & Co		3.000		10/23/26		6,113
	21,575,000		Wells Fargo & Co		2.393		06/02/28		22,500
	11,950,000		Wells Fargo & Co		2.879		10/30/30		12,746
	6,000,000		Wells Fargo & Co		5.900		N/A‡		6,133
	8,500,000		Wells Fargo & Co		5.875		N/A‡		9,158
			TOTAL DIVERSIFIED FINANCIALS						514,379
ENERGY - 3.2%
	1,825,000	g	Abu Dhabi Crude Oil Pipeline LLC		4.600		11/02/47		2,233
	1,050,000		AmeriGas Partners LP		5.875		08/20/26		1,154
	11,000,000		Chevron Corp		1.554		05/11/25		11,396
	4,925,000		Chevron Corp		2.236		05/11/30		5,223
	11,200,000		Concho Resources, Inc		2.400		02/15/31		10,702
	2,375,000		Crestwood Midstream Partners LP		5.750		04/01/25		2,161
	10,000,000		Diamondback Energy, Inc		2.875		12/01/24		10,123
	250,000		Ecopetrol S.A.		5.375		06/26/26		276
	4,100,000		Ecopetrol S.A.		6.875		04/29/30		4,910
	1,430,000		Ecopetrol S.A.		5.875		05/28/45		1,559
	475,000		Enable Midstream Partners LP		4.150		09/15/29		440
	8,225,000		Enbridge, Inc		3.125		11/15/29		8,739
	6,421,000		Energy Transfer Operating LP		3.600		02/01/23		6,599
	5,930,000		Energy Transfer Operating LP		4.200		09/15/23		6,249
	4,575,000		Energy Transfer Operating LP		2.900		05/15/25		4,599
	4,725,000		Energy Transfer Operating LP		4.750		01/15/26		5,035
	2,950,000		Energy Transfer Operating LP		5.500		06/01/27		3,217
	7,850,000		Energy Transfer Operating LP		4.950		06/15/28		8,309
	4,225,000		Energy Transfer Operating LP		5.250		04/15/29		4,543
	10,350,000		Energy Transfer Operating LP		3.750		05/15/30		10,017

327

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	8,700,000		Energy Transfer Operating LP		6.250	%	04/15/49	$	8,953
	9,125,000		Energy Transfer Operating LP		5.000		05/15/50		8,376
	5,125,000		Enterprise Products Operating LLC		3.700		02/15/26		5,747
	6,275,000		Enterprise Products Operating LLC		3.125		07/31/29		6,834
	700,000		Enterprise Products Operating LLC		2.800		01/31/30		741
	1,250,000		Enterprise Products Operating LLC		4.900		05/15/46		1,407
	4,025,000		Enterprise Products Operating LLC		4.250		02/15/48		4,268
	6,200,000		Enterprise Products Operating LLC		4.800		02/01/49		7,135
	4,200,000		Enterprise Products Operating LLC		4.200		01/31/50		4,459
	10,600,000		Enterprise Products Operating LLC		3.700		01/31/51		10,440
	5,125,000		Enterprise Products Operating LLC		3.950		01/31/60		5,032
	1,225,000	g	EQM Midstream Partners LP		6.000		07/01/25		1,263
	300,000	g	Gazprom OAO Via Gaz Capital S.A.		4.950		03/23/27		334
	4,850,000		Kinder Morgan Energy Partners LP		5.400		09/01/44		5,619
	2,065,000		Kinder Morgan, Inc		5.300		12/01/34		2,432
	4,000,000	g	Leviathan Bond Ltd		5.750		06/30/23		4,120
	800,000	g	Leviathan Bond Ltd		6.125		06/30/25		826
	10,675,000		Magellan Midstream Partners LP		3.250		06/01/30		11,449
	9,075,000		Marathon Petroleum Corp		3.800		04/01/28		9,853
	2,800,000		Marathon Petroleum Corp		4.750		09/15/44		2,917
	5,500,000		Marathon Petroleum Corp		5.000		09/15/54		5,646
	8,950,000		MPLX LP		1.750		03/01/26		8,930
	11,000,000		MPLX LP		4.000		03/15/28		12,003
	6,200,000		MPLX LP		2.650		08/15/30		6,075
	12,525,000		MPLX LP		4.500		04/15/38		12,803
	6,150,000		MPLX LP		4.700		04/15/48		6,220
	675,000		Murphy Oil Corp		5.875		12/01/27		576
	1,000,000		NAK Naftogaz Ukraine via Kondor Finance plc		7.375		07/19/22		1,004
	900,000		Noble Energy, Inc		3.900		11/15/24		985
	1,675,000		Noble Energy, Inc		3.850		01/15/28		1,901
	3,465,000		Noble Energy, Inc		5.050		11/15/44		4,488
	1,400,000		NuStar Logistics LP		5.750		10/01/25		1,446
	3,000,000		Occidental Petroleum Corp		3.500		06/15/25		2,490
	2,200,000		Occidental Petroleum Corp		5.550		03/15/26		1,993
	3,900,000		Occidental Petroleum Corp		4.300		08/15/39		2,703
	1,350,000	g	Oleoducto Central S.A.		4.000		07/14/27		1,402
	1,775,000		ONEOK, Inc		4.000		07/13/27		1,847
	11,642,000		ONEOK, Inc		4.550		07/15/28		12,333
	12,150,000		ONEOK, Inc		4.350		03/15/29		12,677
	10,380,000		ONEOK, Inc		3.400		09/01/29		10,182
	5,500,000		ONEOK, Inc		3.100		03/15/30		5,292
	2,000,000		ONEOK, Inc		5.200		07/15/48		1,925
	5,500,000		ONEOK, Inc		4.500		03/15/50		4,859
	3,000,000	g	Pertamina Persero PT		4.300		05/20/23		3,212
	1,425,000	g	Pertamina Persero PT		3.650		07/30/29		1,529
	2,600,000	g	Peru LNG Srl		5.375		03/22/30		1,991
	2,335,000		Petrobras Global Finance BV		5.999		01/27/28		2,594
	1,100,000		Petrobras Global Finance BV		5.093		01/15/30		1,156
	4,000,000		Petrobras Global Finance BV		5.600		01/03/31		4,273
	750,000		Petrobras Global Finance BV		7.250		03/17/44		855
EUR	375,000		Petroleos Mexicanos		1.875		04/21/22		420
$	5,000,000		Petroleos Mexicanos		1.950		12/20/22		5,053
	2,675,000		Petroleos Mexicanos		2.000		12/20/22		2,724
	3,900,000		Petroleos Mexicanos		4.500		01/23/26		3,460

328

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,775,000		Petroleos Mexicanos		6.500	%	03/13/27	$	3,520
	2,650,000		Petroleos Mexicanos		5.350		02/12/28		2,268
	2,988,000	g	Petroleos Mexicanos		6.840		01/23/30		2,659
	5,300,000	g	Petroleos Mexicanos		5.950		01/28/31		4,408
	2,150,000	g	Petronas Capital Ltd		3.500		04/21/30		2,398
	3,250,000		Phillips 66 Partners LP		3.150		12/15/29		3,205
	3,275,000		Phillips 66 Partners LP		4.680		02/15/45		3,332
	1,200,000		Regency Energy Partners LP		4.500		11/01/23		1,275
	2,623,500	g	Rio Oil Finance Trust		8.200		04/06/28		2,807
	9,875,000		Sabine Pass Liquefaction LLC		4.200		03/15/28		10,713
	5,200,000	g	Sabine Pass Liquefaction LLC		4.500		05/15/30		5,852
	5,550,000		Shell International Finance BV		2.250		01/06/23		5,775
	4,875,000		Shell International Finance BV		2.875		05/10/26		5,396
	6,900,000		Shell International Finance BV		3.125		11/07/49		7,105
	350,000	g	Stena AB		7.000		02/01/24		342
	6,500,000		Sunoco Logistics Partners Operations LP		4.000		10/01/27		6,636
	1,925,000		Sunoco Logistics Partners Operations LP		5.400		10/01/47		1,814
	525,000		Sunoco LP		4.875		01/15/23		528
	600,000		Targa Resources Partners LP		5.125		02/01/25		598
	1,000,000		Targa Resources Partners LP		5.875		04/15/26		1,027
	425,000		Targa Resources Partners LP		6.500		07/15/27		443
	5,800,000	g	Thaioil Treasury Center Co Ltd		2.500		06/18/30		5,661
EUR	600,000		Total Capital International S.A.		2.500		03/25/26		801
$	11,000,000		Total Capital International S.A.		3.127		05/29/50		11,362
	19,150,000		TransCanada PipeLines Ltd		4.250		05/15/28		22,127
	1,400,000		Vale Overseas Ltd		6.250		08/10/26		1,655
	5,075,000		Williams Partners LP		3.750		06/15/27		5,566
	2,000,000	g	YPF S.A.		8.500		07/28/25		1,462
			TOTAL ENERGY						477,471
FOOD & STAPLES RETAILING - 0.6%
	5,225,000		Costco Wholesale Corp		1.375		06/20/27		5,349
	7,850,000		Costco Wholesale Corp		1.600		04/20/30		7,996
	2,450,000		Costco Wholesale Corp		1.750		04/20/32		2,512
	1,223,000		Ingles Markets, Inc		5.750		06/15/23		1,240
	5,575,000		Kroger Co		3.700		08/01/27		6,388
	3,140,000		Kroger Co		3.875		10/15/46		3,552
	1,325,000		Kroger Co		4.450		02/01/47		1,628
	2,636,000		Kroger Co		3.950		01/15/50		3,070
EUR	1,000,000		SYSCO Corp		1.250		06/23/23		1,187
$	22,300,000		Walmart, Inc		3.700		06/26/28		26,355
	4,350,000		Walmart, Inc		3.250		07/08/29		5,068
	13,650,000		Walmart, Inc		2.375		09/24/29		15,067
	6,150,000		Walmart, Inc		3.950		06/28/38		7,696
			TOTAL FOOD & STAPLES RETAILING						87,108
FOOD, BEVERAGE & TOBACCO - 1.4%
	6,425,000		Altria Group, Inc		4.800		02/14/29		7,620
	3,375,000		Altria Group, Inc		3.400		05/06/30		3,673
	5,800,000		Altria Group, Inc		5.950		02/14/49		7,776
	18,600,000		Anheuser-Busch InBev Worldwide, Inc		4.750		01/23/29		22,610
	5,045,000		Anheuser-Busch InBev Worldwide, Inc		4.439		10/06/48		5,878
	6,275,000		BAT Capital Corp		2.259		03/25/28		6,290
	16,425,000		BAT Capital Corp		4.906		04/02/30		19,360

329

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,875,000		BAT Capital Corp		2.726	%	03/25/31	$	10,771
	5,225,000		BAT Capital Corp		3.734		09/25/40		5,185
	5,500,000		BAT Capital Corp		4.540		08/15/47		5,878
	1,500,000	g	BRF S.A.		5.750		09/21/50		1,488
	2,750,000		Coca-Cola Co		1.450		06/01/27		2,835
	25,000,000		Coca-Cola Co		1.000		03/15/28		24,919
	3,375,000		Coca-Cola Co		1.650		06/01/30		3,492
EUR	400,000		Coca-Cola Co		0.800		03/15/40		463
$	1,700,000		Constellation Brands, Inc		4.400		11/15/25		1,976
	2,675,000		Constellation Brands, Inc		3.700		12/06/26		3,059
	1,825,000		Constellation Brands, Inc		3.600		02/15/28		2,062
	3,225,000		Constellation Brands, Inc		3.150		08/01/29		3,520
	1,125,000		Constellation Brands, Inc		2.875		05/01/30		1,214
	3,000,000	g	Corp Lindley S.A.		4.625		04/12/23		3,143
	5,500,000		Diageo Capital plc		2.125		10/24/24		5,825
	4,500,000		Diageo Capital plc		1.375		09/29/25		4,611
	8,050,000		Diageo Capital plc		2.375		10/24/29		8,578
	3,900,000		Diageo Capital plc		2.000		04/29/30		4,015
	3,600,000	g	Embotelladora Andina S.A.		3.950		01/21/50		3,807
	1,550,000		General Mills, Inc		2.875		04/15/30		1,700
	3,700,000	g	Grupo Bimbo SAB de C.V.		4.700		11/10/47		4,308
	2,400,000	g	Grupo Bimbo SAB de C.V.		5.950		N/A‡		2,514
	1,550,000		JM Smucker Co		2.375		03/15/30		1,616
	4,450,000		JM Smucker Co		3.550		03/15/50		4,749
	3,900,000		Kellogg Co		3.400		11/15/27		4,395
EUR	400,000		PepsiCo, Inc		0.500		05/06/28		481
$	3,125,000		PepsiCo, Inc		3.450		10/06/46		3,615
	6,325,000		Philip Morris International, Inc		2.100		05/01/30		6,501
	1,600,000		Philip Morris International, Inc		6.375		05/16/38		2,371
	2,050,000	g	Post Holdings, Inc		4.625		04/15/30		2,109
	2,700,000		Tyson Foods, Inc		3.900		09/28/23		2,952
			TOTAL FOOD, BEVERAGE & TOBACCO						207,359
HEALTH CARE EQUIPMENT & SERVICES - 2.0%
	4,750,000		Abbott Laboratories		3.875		09/15/25		5,423
	11,022,000		Abbott Laboratories		3.750		11/30/26		12,787
	2,250,000		Abbott Laboratories		5.300		05/27/40		3,286
	11,100,000		Anthem, Inc		3.650		12/01/27		12,639
EUR	500,000	g	Avantor Funding, Inc		3.875		07/15/28		599
$	1,500,000	g	Avantor Funding, Inc		4.625		07/15/28		1,556
EUR	430,000		Becton Dickinson & Co		1.401		05/24/23		518
	670,000		Becton Dickinson & Co		1.900		12/15/26		835
$	11,589,000		Becton Dickinson & Co		3.700		06/06/27		13,134
	4,850,000		Boston Scientific Corp		4.000		03/01/29		5,639
	3,650,000		Centene Corp		4.250		12/15/27		3,820
	19,230,000		Children’s Hospital Medic		4.268		05/15/44		24,101
	5,350,000		Cigna Corp		2.400		03/15/30		5,532
	5,075,000		Cigna Corp		3.200		03/15/40		5,370
	3,800,000		Covidien International Finance S.A.		3.200		06/15/22		3,952
	6,775,000		CVS Health Corp		2.625		08/15/24		7,220
	15,950,000		CVS Health Corp		2.875		06/01/26		17,267
	23,450,000		CVS Health Corp		3.750		04/01/30		26,795
	25,800,000		CVS Health Corp		1.750		08/21/30		25,257
	10,300,000		CVS Health Corp		4.780		03/25/38		12,465

330

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	4,675,000		CVS Health Corp		2.700	%	08/21/40	$	4,472
	8,350,000		CVS Health Corp		5.050		03/25/48		10,619
	3,750,000		CVS Health Corp		4.250		04/01/50		4,398
	3,325,000		Danaher Corp		2.600		10/01/50		3,239
	4,105,000		Dartmouth-Hitchcock Health		4.178		08/01/48		4,901
	1,250,000	g	DaVita, Inc		4.625		06/01/30		1,283
	4,325,000	g	DaVita, Inc		3.750		02/15/31		4,167
EUR	500,000		DH Europe Finance Sarl		1.200		06/30/27		616
$	875,000		Encompass Health Corp		4.625		04/01/31		875
	4,225,000		HCA, Inc		5.625		09/01/28		4,833
	5,000,000		HCA, Inc		5.500		06/15/47		6,234
	3,500,000	g	Hologic, Inc		3.250		02/15/29		3,522
	6,250,000		Humana, Inc		3.950		03/15/27		7,151
	12,500,000		Mercy Health		3.382		11/01/25		13,504
	500,000	g	Molina Healthcare, Inc		4.375		06/15/28		510
	5,000,000		New York and Presbyterian Hospital		3.563		08/01/36		5,643
	11,046,000	g	SBA Tower Trust		1.884		01/15/26		11,289
EUR	450,000		Stryker Corp		2.625		11/30/30		621
$	150,000	g	Teleflex, Inc		4.250		06/01/28		155
	375,000	g	Tenet Healthcare Corp		4.625		06/15/28		378
	5,775,000		UnitedHealth Group, Inc		2.950		10/15/27		6,433
	4,625,000		UnitedHealth Group, Inc		3.750		10/15/47		5,478
	2,150,000		Zimmer Biomet Holdings, Inc		3.700		03/19/23		2,295
	3,745,000		Zimmer Biomet Holdings, Inc		3.550		04/01/25		4,139
			TOTAL HEALTH CARE EQUIPMENT & SERVICES						294,950
HOUSEHOLD & PERSONAL PRODUCTS - 0.0%
	3,000,000		Kimberly-Clark Corp		1.050		09/15/27		3,021
EUR	600,000		The Procter & Gamble Company		0.625		10/30/24		727
	400,000		The Procter & Gamble Company		1.875		10/30/38		581
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS						4,329
INSURANCE - 1.2%
$	1,925,000		Aetna, Inc		6.625		06/15/36		2,734
	1,525,000	g	AIA Group Ltd		3.200		09/16/40		1,575
	5,500,000		Allstate Corp		3.850		08/10/49		6,523
	2,700,000		American Financial Group, Inc		3.500		08/15/26		2,922
	7,450,000		American International Group, Inc		3.400		06/30/30		8,218
	6,350,000		Aon Corp		2.800		05/15/30		6,856
	12,975,000		Aon plc		3.500		06/14/24		14,135
	3,250,000		AXIS Specialty Finance LLC		4.900		01/15/40		3,245
	2,275,000		Berkshire Hathaway Finance Corp		1.850		03/12/30		2,376
	2,400,000		Berkshire Hathaway Finance Corp		4.250		01/15/49		3,123
	6,250,000		Chubb INA Holdings, Inc		2.875		11/03/22		6,537
EUR	450,000		Chubb INA Holdings, Inc		0.875		06/15/27		541
	500,000		Chubb INA Holdings, Inc		1.550		03/15/28		628
	450,000		Chubb INA Holdings, Inc		1.400		06/15/31		561
$	3,525,000		CNA Financial Corp		3.950		05/15/24		3,905
	3,775,000		CNA Financial Corp		2.050		08/15/30		3,741
	1,825,000	g	Equitable Financial Life Global Funding		1.400		07/07/25		1,863
EUR	250,000		Fairfax Financial Holdings Ltd		2.750		03/29/28		304
$	5,575,000	g	Five Corners Funding Trust		4.419		11/15/23		6,194
	7,325,000	g	Five Corners Funding Trust II		2.850		05/15/30		7,901
	5,500,000		Hartford Financial Services Group, Inc		2.800		08/19/29		5,960

331

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,350,000		Hartford Financial Services Group, Inc		4.300	%	04/15/43	$	1,583
	3,375,000		Hartford Financial Services Group, Inc		3.600		08/19/49		3,739
	728,000	g	Liberty Mutual Group, Inc		4.250		06/15/23		796
EUR	750,000		Liberty Mutual Group, Inc		2.750		05/04/26		981
$	4,100,000	g	Liberty Mutual Group, Inc		3.951		10/15/50		4,567
	1,600,000		Marsh & McLennan Cos, Inc		3.500		06/03/24		1,748
	1,365,000		Marsh & McLennan Cos, Inc		3.500		03/10/25		1,508
	4,325,000		MetLife, Inc		3.600		11/13/25		4,909
	18,175,000		MetLife, Inc		3.850		N/A‡		18,107
	3,025,000	g	Metropolitan Life Global Funding I		2.950		04/09/30		3,393
	11,875,000		PartnerRe Finance B LLC		4.500		10/01/50		11,911
	6,000,000		Principal Financial Group, Inc		2.125		06/15/30		6,176
	2,500,000		Prudential Financial, Inc		3.905		12/07/47		2,775
	6,960,000		Prudential Financial, Inc		3.700		10/01/50		7,101
	3,000,000	g	Prudential Funding LLC		6.750		09/15/23		3,464
	4,150,000		Reinsurance Group of America, Inc		3.900		05/15/29		4,735
	1,300,000		Travelers Cos, Inc		2.550		04/27/50		1,272
	7,750,000	g,i	Vitality Re IX Ltd		1.692		01/10/22		7,711
	3,500,000	g,i	Vitality Re X Ltd		1.842		01/10/23		3,481
			TOTAL INSURANCE						179,799
MATERIALS - 1.1%
	1,750,000		Air Products & Chemicals, Inc		1.500		10/15/25		1,815
	1,950,000		Air Products & Chemicals, Inc		2.050		05/15/30		2,055
	4,550,000	g	Anglo American Capital plc		2.625		09/10/30		4,513
	7,475,000		AngloGold Ashanti Holdings plc		3.750		10/01/30		7,623
	250,000	g	Arconic Corp		6.000		05/15/25		267
	175,000	g	Arconic Rolled Products Corp		6.125		02/15/28		180
EUR	250,000		Ball Corp		4.375		12/15/23		320
	425,000		Ball Corp		0.875		03/15/24		489
$	1,875,000		Ball Corp		2.875		08/15/30		1,854
	852,000		Bemis Co, Inc		3.100		09/15/26		928
	2,600,000		Bemis Co, Inc		2.630		06/19/30		2,775
	200,000		Celulosa Arauco y Constitucion S.A.		3.875		11/02/27		212
	3,000,000	g	Celulosa Arauco y Constitucion S.A.		4.250		04/30/29		3,176
	1,650,000	g	Celulosa Arauco y Constitucion S.A.		4.200		01/29/30		1,747
	3,175,000	g	Cemex SAB de C.V.		7.375		06/05/27		3,431
	2,500,000	g	Cemex SAB de C.V.		5.450		11/19/29		2,528
	3,900,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.625		08/01/27		4,271
	3,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.150		01/14/30		3,188
	2,000,000	g	Corp Nacional del Cobre de Chile-CODELCO		3.700		01/30/50		2,116
	4,000,000		DowDuPont, Inc		4.725		11/15/28		4,799
	500,000	g	Element Solutions, Inc		3.875		09/01/28		491
	4,300,000	g,h	First Quantum Minerals Ltd		6.875		10/15/27		4,142
	3,000,000		Freeport-McMoRan, Inc		5.450		03/15/43		3,331
	2,600,000	g	Fresnillo plc		4.250		10/02/50		2,568
	775,000	g	Hudbay Minerals, Inc		6.125		04/01/29		767
EUR	350,000	g	INEOS Finance plc		2.875		05/01/26		394
$	2,561,000		International Paper Co		5.000		09/15/35		3,332
	3,750,000		International Paper Co		4.350		08/15/48		4,580
	3,000,000	g	Inversiones CMPC S.A.		4.375		04/04/27		3,341
	1,500,000	g	Inversiones CMPC S.A.		3.850		01/13/30		1,641
	5,672,000		LyondellBasell Industries NV		6.000		11/15/21		5,935
	5,800,000	g	Midwest Connector Capital Co LLC		3.900		04/01/24		5,850

332

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	5,800,000	g	Midwest Connector Capital Co LLC		4.625	%	04/01/29	$	5,859
	1,725,000		Mosaic Co		4.875		11/15/41		1,806
	4,000,000		Newmont Corp		2.250		10/01/30		4,125
	2,000,000	g	Nova Chemicals Corp		4.875		06/01/24		1,986
	4,767,000		Nutrien Ltd		3.375		03/15/25		5,263
	7,500,000		Nutrien Ltd		2.950		05/13/30		8,200
EUR	125,000	g	OCI NV		5.000		04/15/23		150
$	500,000	g	OCI NV		6.625		04/15/23		517
EUR	375,000	g	OCI NV		3.125		11/01/24		436
$	525,000	g	OCI NV		5.250		11/01/24		542
	2,375,000	h	OCI NV		4.625		10/15/25		2,375
EUR	250,000	g	OI European Group BV		3.125		11/15/24		296
$	375,000	g	PolyOne Corp		5.750		05/15/25		397
	350,000	g	POSCO		2.500		01/17/25		363
	8,050,000		Praxair, Inc		1.100		08/10/30		7,794
	2,250,000		Praxair, Inc		2.000		08/10/50		2,024
	2,550,000	g	SABIC Capital II BV		4.000		10/10/23		2,741
	1,300,000		SASOL Financing USA LLC		6.500		09/27/28		1,228
	8,200,000		Sherwin-Williams Co		2.300		05/15/30		8,557
EUR	400,000		Silgan Holdings, Inc		3.250		03/15/25		474
$	1,925,000		Suzano Austria GmbH		6.000		01/15/29		2,195
	725,000	g	Tronox, Inc		6.500		05/01/25		754
	3,000,000		Vulcan Materials Co		3.500		06/01/30		3,357
	9,300,000		WRKCo, Inc		4.900		03/15/29		11,469
			TOTAL MATERIALS						157,567
MEDIA & ENTERTAINMENT - 2.7%
	4,350,000		Activision Blizzard, Inc		3.400		09/15/26		4,953
	3,700,000		Activision Blizzard, Inc		1.350		09/15/30		3,605
	9,250,000		Alphabet, Inc		1.100		08/15/30		9,158
	6,100,000		Alphabet, Inc		2.050		08/15/50		5,669
EUR	200,000	g	Ashland Services BV		2.000		01/30/28		223
$	3,000,000	g	Banco Nacional de Panama		2.500		08/11/30		2,969
	1,775,000	g	Cable Onda S.A.		4.500		01/30/30		1,847
	5,000,000	g	CCO Holdings LLC		4.250		02/01/31		5,180
	8,000,000		Charter Communications Operating LLC		3.750		02/15/28		8,840
	8,350,000		Charter Communications Operating LLC		4.200		03/15/28		9,481
	5,000,000		Charter Communications Operating LLC		2.800		04/01/31		5,186
	6,150,000		Charter Communications Operating LLC		5.125		07/01/49		7,116
	21,620,000		Charter Communications Operating LLC		4.800		03/01/50		24,710
	11,800,000		Comcast Corp		3.950		10/15/25		13,532
	10,650,000		Comcast Corp		2.350		01/15/27		11,441
	6,670,000		Comcast Corp		3.300		02/01/27		7,520
EUR	450,000		Comcast Corp		0.250		05/20/27		529
$	31,750,000		Comcast Corp		4.150		10/15/28		38,310
	11,875,000		Comcast Corp		2.650		02/01/30		12,950
	15,000,000		Comcast Corp		3.400		04/01/30		17,303
	12,175,000		Comcast Corp		1.950		01/15/31		12,501
	7,675,000		Comcast Corp		1.500		02/15/31		7,553
	5,000,000		Comcast Corp		4.400		08/15/35		6,324
	18,200,000		Comcast Corp		3.200		07/15/36		20,199
	3,000,000		Comcast Corp		3.900		03/01/38		3,552
	2,500,000		Comcast Corp		4.700		10/15/48		3,308
	16,500,000		Comcast Corp		3.450		02/01/50		18,736

333

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	11,650,000		Comcast Corp		2.800	%	01/15/51	$	11,674
	7,700,000		Comcast Corp		2.450		08/15/52		7,198
	1,500,000	g	CSC Holdings LLC		7.500		04/01/28		1,657
	5,000,000	g	CSC Holdings LLC		3.375		02/15/31		4,841
	2,099,000		Discovery Communications LLC		2.950		03/20/23		2,211
GBP	300,000		Discovery Communications LLC		2.500		09/20/24		401
$	6,850,000		Discovery Communications LLC		4.125		05/15/29		7,870
	6,400,000		Discovery Communications LLC		5.200		09/20/47		7,673
	3,000,000	h	DISH DBS Corp		7.375		07/01/28		3,090
	2,000,000	g	Empresa de los Ferrocarriles del Estado		3.068		08/18/50		1,960
	1,895,000		Grupo Televisa SAB		6.625		01/15/40		2,497
	650,000	g	Lamar Media Corp		3.750		02/15/28		647
	1,000,000	g	Lamar Media Corp		4.000		02/15/30		1,000
	2,000,000	g	Medco Bell Pte Ltd		6.375		01/30/27		1,720
	3,500,000	g	MEGlobal Canada ULC		5.000		05/18/25		3,776
EUR	400,000	g	Reckitt Benckiser Treasury Services Nederland BV		0.375		05/19/26		478
$	2,675,000	g	Sirius XM Radio, Inc		4.125		07/01/30		2,741
	975,000	g	TEGNA, Inc		4.750		03/15/26		996
	675,000	g	TEGNA, Inc		4.625		03/15/28		660
	250,000	g	Tencent Holdings Ltd		3.975		04/11/29		284
	5,675,000		Time Warner Cable LLC		5.875		11/15/40		7,060
	4,075,000		Time Warner Cable LLC		4.500		09/15/42		4,419
	11,200,000	g	Upjohn, Inc		2.700		06/22/30		11,588
	2,425,000	g	Upjohn, Inc		3.850		06/22/40		2,611
	4,200,000		ViacomCBS, Inc		2.900		01/15/27		4,525
	2,500,000		ViacomCBS, Inc		3.375		02/15/28		2,755
	2,250,000		ViacomCBS, Inc		4.375		03/15/43		2,385
	1,150,000		ViacomCBS, Inc		5.850		09/01/43		1,441
	2,105,000		Walt Disney Co		7.625		11/30/28		3,010
	12,750,000		Walt Disney Co		2.000		09/01/29		13,175
	1,578,000		Walt Disney Co		6.550		03/15/33		2,308
	10,900,000		Walt Disney Co		3.600		01/13/51		12,274
	2,700,000		Weibo Corp		3.375		07/08/30		2,742
			TOTAL MEDIA & ENTERTAINMENT						396,362
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 2.1%
EUR	400,000		Abbott Ireland Financing DAC		1.500		09/27/26		507
$	3,500,000		AbbVie, Inc		2.850		05/14/23		3,682
EUR	550,000	g	AbbVie, Inc		1.250		06/01/24		668
$	8,700,000	g	AbbVie, Inc		3.800		03/15/25		9,654
	26,000,000	g	AbbVie, Inc		2.950		11/21/26		28,323
EUR	350,000	g	AbbVie, Inc		2.625		11/15/28		478
$	22,275,000	g	AbbVie, Inc		3.200		11/21/29		24,492
	12,850,000	g	AbbVie, Inc		4.050		11/21/39		14,676
	6,700,000		AbbVie, Inc		4.400		11/06/42		7,961
	2,680,000		AbbVie, Inc		4.450		05/14/46		3,185
	9,525,000	g	AbbVie, Inc		4.250		11/21/49		11,250
	5,650,000		AstraZeneca plc		3.125		06/12/27		6,265
	325,000	g	Bausch Health Cos, Inc		5.000		01/30/28		316
	2,900,000		Bristol-Myers Squibb Co		2.900		07/26/24		3,142
	2,900,000		Bristol-Myers Squibb Co		3.875		08/15/25		3,310
	13,600,000		Bristol-Myers Squibb Co		3.450		11/15/27		15,622
	20,175,000		Bristol-Myers Squibb Co		3.400		07/26/29		23,441
	16,500,000		Bristol-Myers Squibb Co		4.250		10/26/49		21,670

334

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,000,000		Eli Lilly & Co		2.250	%	05/15/50	$	9,425
	225,000	g	Emergent BioSolutions, Inc		3.875		08/15/28		226
	3,725,000		Gilead Sciences, Inc		1.200		10/01/27		3,731
	9,000,000		Gilead Sciences, Inc		1.650		10/01/30		8,982
	1,775,000		Gilead Sciences, Inc		4.000		09/01/36		2,147
	5,450,000		Gilead Sciences, Inc		2.800		10/01/50		5,376
	125,000	g	Jaguar Holding Co II		4.625		06/15/25		129
	100,000	g	Jaguar Holding Co II		5.000		06/15/28		104
	5,650,000		Johnson & Johnson		2.450		03/01/26		6,169
	3,950,000		Johnson & Johnson		2.900		01/15/28		4,440
	3,750,000		Johnson & Johnson		3.400		01/15/38		4,382
	19,100,000		Merck & Co, Inc		1.450		06/24/30		19,365
	11,750,000		Merck & Co, Inc		2.450		06/24/50		11,687
	5,750,000		Mylan, Inc		4.550		04/15/28		6,695
	9,600,000		Novartis Capital Corp		3.000		11/20/25		10,678
	5,200,000	g	Royalty Pharma plc		2.200		09/02/30		5,170
EUR	1,200,000		Takeda Pharmaceutical Co Ltd		1.125		11/21/22		1,438
$	17,650,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		17,875
EUR	400,000		Takeda Pharmaceutical Co Ltd		3.000		11/21/30		562
	400,000		Takeda Pharmaceutical Co Ltd		1.375		07/09/32		485
$	1,975,000		Takeda Pharmaceutical Co Ltd		3.025		07/09/40		2,040
	3,000,000		Teva Pharmaceutical Finance Netherlands III BV		3.150		10/01/26		2,647
	9,775,000		Thermo Fisher Scientific, Inc		4.133		03/25/25		11,137
EUR	300,000		Thermo Fisher Scientific, Inc		1.950		07/24/29		394
	325,000		Thermo Fisher Scientific, Inc		2.875		07/24/37		483
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						314,409
REAL ESTATE - 2.1%
$	1,675,000		Alexandria Real Estate Equities, Inc		3.950		01/15/27		1,905
	2,300,000		Alexandria Real Estate Equities, Inc		3.950		01/15/28		2,646
	5,500,000		Alexandria Real Estate Equities, Inc		4.900		12/15/30		6,919
	3,725,000		Alexandria Real Estate Equities, Inc		1.875		02/01/33		3,635
	5,950,000		American Tower Corp		3.000		06/15/23		6,301
	5,775,000		American Tower Corp		2.950		01/15/25		6,238
EUR	600,000		American Tower Corp		1.950		05/22/26		762
$	2,418,000		American Tower Corp		3.375		10/15/26		2,677
	10,000,000		American Tower Corp		2.750		01/15/27		10,782
	1,600,000		American Tower Corp		3.600		01/15/28		1,794
	8,850,000		American Tower Corp		3.800		08/15/29		10,130
	13,700,000		American Tower Corp		2.900		01/15/30		14,787
	9,925,000		American Tower Corp		1.875		10/15/30		9,775
	5,575,000		Brandywine Operating Partnership LP		4.100		10/01/24		5,867
	5,825,000		Brixmor Operating Partnership LP		3.850		02/01/25		6,236
	1,950,000		Camden Property Trust		3.150		07/01/29		2,162
	2,150,000		Camden Property Trust		2.800		05/15/30		2,337
	1,700,000		Crown Castle International Corp		3.650		09/01/27		1,901
	1,825,000		Crown Castle International Corp		3.800		02/15/28		2,066
	19,725,000		Crown Castle International Corp		2.250		01/15/31		19,870
	4,750,000		Crown Castle International Corp		3.250		01/15/51		4,712
	3,075,000		Digital Realty Trust LP		3.700		08/15/27		3,459
	1,600,000		Duke Realty LP		3.250		06/30/26		1,774
	2,525,000		Duke Realty LP		4.000		09/15/28		2,944
	3,125,000		Duke Realty LP		1.750		07/01/30		3,108
	3,825,000		Equinix, Inc		2.150		07/15/30		3,872

335

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,754,000		Essex Portfolio LP		3.375	%	01/15/23	$	2,885
	9,100,000		Essex Portfolio LP		3.000		01/15/30		9,774
	1,625,000		Healthcare Realty Trust, Inc		3.750		04/15/23		1,744
	6,600,000		Healthcare Realty Trust, Inc		3.875		05/01/25		7,212
	3,000,000		Healthcare Realty Trust, Inc		3.625		01/15/28		3,286
	1,750,000		Healthcare Realty Trust, Inc		2.400		03/15/30		1,773
	1,850,000	h	Healthcare Realty Trust, Inc		2.050		03/15/31		1,825
	6,250,000		Healthcare Trust of America Holdings LP		3.500		08/01/26		6,956
	11,400,000		Healthcare Trust of America Holdings LP		3.100		02/15/30		12,256
	7,950,000		Highwoods Realty LP		3.875		03/01/27		8,620
	2,900,000		Highwoods Realty LP		4.125		03/15/28		3,198
	2,875,000		Highwoods Realty LP		4.200		04/15/29		3,226
	6,000,000		Highwoods Realty LP		3.050		02/15/30		6,200
	1,833,000		Hudson Pacific Properties LP		3.950		11/01/27		1,971
	3,000,000		Hudson Pacific Properties LP		3.250		01/15/30		3,105
	800,000		iStar, Inc		4.750		10/01/24		774
	850,000		Life Storage LP		2.200		10/15/30		849
	575,000	g	MGM Growth Properties Operating Partnership LP		4.625		06/15/25		586
	5,224,000		Mid-America Apartments LP		4.300		10/15/23		5,707
	5,525,000		Mid-America Apartments LP		3.750		06/15/24		6,007
	4,300,000		Mid-America Apartments LP		4.000		11/15/25		4,853
	7,734,000		Mid-America Apartments LP		3.600		06/01/27		8,615
	11,100,000		Mid-America Apartments LP		2.750		03/15/30		11,959
	5,400,000		Mid-America Apartments LP		1.700		02/15/31		5,313
	5,425,000		National Retail Properties, Inc		3.300		04/15/23		5,709
	2,575,000		National Retail Properties, Inc		4.000		11/15/25		2,853
	3,000,000		National Retail Properties, Inc		3.600		12/15/26		3,242
EUR	360,000		ProLogis Euro Finance LLC		0.375		02/06/28		424
	350,000		ProLogis LP		3.000		06/02/26		475
$	7,225,000		Regency Centers LP		3.900		11/01/25		7,876
	4,750,000		Regency Centers LP		3.600		02/01/27		5,138
	5,500,000		Regency Centers LP		2.950		09/15/29		5,694
	5,700,000		Retail Properties of America, Inc		4.750		09/15/30		5,707
	2,968,000		SITE Centers Corp		3.625		02/01/25		3,032
	350,000		SITE Centers Corp		4.700		06/01/27		369
	775,000	g	VICI Properties LP		3.500		02/15/25		767
	1,170,000		Weingarten Realty Investors		3.375		10/15/22		1,199
	4,800,000		Weingarten Realty Investors		3.500		04/15/23		4,954
	3,025,000		Weingarten Realty Investors		4.450		01/15/24		3,226
	3,950,000		Weingarten Realty Investors		3.850		06/01/25		4,143
	1,300,000		Weingarten Realty Investors		3.250		08/15/26		1,346
			TOTAL REAL ESTATE						313,507
RETAILING - 0.5%
	2,950,000		AutoNation, Inc		3.800		11/15/27		3,224
	6,525,000		AutoZone, Inc		1.650		01/15/31		6,412
	925,000	g	Booz Allen Hamilton, Inc		3.875		09/01/28		950
	100,000	g	Camelot Finance S.A.		4.500		11/01/26		102
	600,000		CDW LLC		3.250		02/15/29		598
	550,000	g	Group 1 Automotive, Inc		4.000		08/15/28		540
	8,850,000		Home Depot, Inc		2.000		04/01/21		8,915
	350,000		JD.com, Inc		3.375		01/14/30		379
	525,000	g	L Brands, Inc		6.875		07/01/25		567
	200,000	g	L Brands, Inc		9.375		07/01/25		230

336

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	925,000	g	L Brands, Inc			6.625	%	10/01/30	$	941
	875,000	g	Lithia Motors, Inc			4.625		12/15/27		903
	1,950,000	g,h	Lithia Motors, Inc			4.375		01/15/31		1,950
	151,000	g	Macy’s, Inc			8.375		06/15/25		156
	5,100,000		O’Reilly Automotive, Inc			3.550		03/15/26		5,761
	6,875,000		O’Reilly Automotive, Inc			3.600		09/01/27		7,817
	4,075,000		O’Reilly Automotive, Inc			4.200		04/01/30		4,895
	2,700,000		O’Reilly Automotive, Inc			1.750		03/15/31		2,667
	1,500,000	g	PetSmart, Inc			5.875		06/01/25		1,535
	900,000	g	PetSmart, Inc			8.875		06/01/25		934
	2,775,000	g	Prosus NV			3.680		01/21/30		2,992
	3,000,000	g	Staples, Inc			7.500		04/15/26		2,764
	4,500,000		Target Corp			3.375		04/15/29		5,229
	13,275,000		Target Corp			2.350		02/15/30		14,404
	1,350,000		Target Corp			2.650		09/15/30		1,510
			TOTAL RETAILING							76,375
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.6%
	12,025,000		Broadcom, Inc			4.150		11/15/30		13,500
	15,640,000		Intel Corp			2.875		05/11/24		16,904
	4,800,000		Intel Corp			2.600		05/19/26		5,280
	7,325,000		Intel Corp			3.750		03/25/27		8,578
	2,500,000		Intel Corp			3.734		12/08/47		2,979
	2,875,000		Lam Research Corp			3.750		03/15/26		3,298
	3,275,000		Lam Research Corp			4.000		03/15/29		3,922
	1,100,000		Lam Research Corp			1.900		06/15/30		1,139
	8,075,000		Lam Research Corp			2.875		06/15/50		8,340
	5,250,000	g	NXP BV			4.875		03/01/24		5,903
	5,725,000	g	NXP BV			3.875		06/18/26		6,414
	2,450,000	g	NXP BV			3.400		05/01/30		2,680
	3,475,000		Texas Instruments, Inc			2.625		05/15/24		3,731
	2,500,000		Texas Instruments, Inc			2.250		09/04/29		2,680
	3,100,000		Texas Instruments, Inc			4.150		05/15/48		4,045
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT							89,393
SOFTWARE & SERVICES - 1.1%
	10,050,000		Adobe, Inc			2.300		02/01/30		10,838
	2,800,000		Baidu, Inc			2.875		07/06/22		2,880
	1,725,000		Baidu, Inc			4.375		05/14/24		1,890
	275,000	g	Black Knight InfoServ LLC			3.625		09/01/28		278
GBP	150,000		Fidelity National Information Services, Inc			1.700		06/30/22		197
EUR	375,000		Fidelity National Information Services, Inc			1.100		07/15/24		455
$	3,750,000		Fidelity National Information Services, Inc			3.750		05/21/29		4,410
	14,800,000		Fiserv, Inc			2.750		07/01/24		15,822
	23,750,000		Fiserv, Inc			3.500		07/01/29		27,031
	900,000	g	Gartner, Inc			3.750		10/01/30		910
	4,725,000		Global Payments, Inc			2.650		02/15/25		5,014
	10,275,000		Global Payments, Inc			3.200		08/15/29		11,208
	20,825,000		International Business Machines Corp			1.950		05/15/30		21,437
EUR	400,000		International Business Machines Corp			0.650		02/11/32		469
$	26,300,000		Microsoft Corp			2.400		08/08/26		28,649
	2,355,000		Microsoft Corp			4.100		02/06/37		3,055
	5,850,000		Microsoft Corp			3.700		08/08/46		7,341

337

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,395,000		Microsoft Corp		2.525	%	06/01/50	$	1,455
	550,000	g	Open Text Holdings, Inc		4.125		02/15/30		566
	175,000	g	Presidio Holdings, Inc		4.875		02/01/27		177
	2,425,000		salesforce.com, Inc		3.700		04/11/28		2,858
	7,075,000		Visa, Inc		2.050		04/15/30		7,561
	1,800,000		Visa, Inc		2.700		04/15/40		1,943
			TOTAL SOFTWARE & SERVICES						156,444
TECHNOLOGY HARDWARE & EQUIPMENT - 0.9%
	7,025,000		Amphenol Corp		2.800		02/15/30		7,685
EUR	675,000		Amphenol Technologies Holding GmbH		2.000		10/08/28		877
$	8,075,000		Apple, Inc		2.450		08/04/26		8,797
	36,100,000		Apple, Inc		2.050		09/11/26		38,588
EUR	750,000		Apple, Inc		1.375		05/24/29		973
$	4,525,000		Apple, Inc		4.650		02/23/46		6,301
	19,975,000		Broadcom Corp		3.875		01/15/27		22,150
	19,750,000		Cisco Systems, Inc		1.850		09/20/21		20,023
	2,075,000		Corning, Inc		4.375		11/15/57		2,527
	3,290,000	g	Dell International LLC		4.420		06/15/21		3,368
	7,050,000	g	Dell International LLC		5.300		10/01/29		8,076
	3,645,000	g	Empresas Publicas de Medellin ESP		4.250		07/18/29		3,640
	2,425,000	g	NCR Corp		5.000		10/01/28		2,422
	6,669,000		Tyco Electronics Group S.A.		3.500		02/03/22		6,883
	2,175,000		Tyco Electronics Group S.A.		3.700		02/15/26		2,441
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						134,751
TELECOMMUNICATION SERVICES - 2.8%
	4,936,000		AT&T, Inc		3.000		06/30/22		5,131
	4,045,000		AT&T, Inc		2.950		07/15/26		4,417
	7,500,000		AT&T, Inc		3.800		02/15/27		8,455
	50,870,000		AT&T, Inc		4.350		03/01/29		59,709
EUR	500,000		AT&T, Inc		2.350		09/05/29		659
$	22,355,000		AT&T, Inc		4.300		02/15/30		26,467
	9,000,000		AT&T, Inc		4.500		05/15/35		10,616
	26,407,000		AT&T, Inc		4.500		03/09/48		30,148
	14,730,000		AT&T, Inc		3.650		06/01/51		14,867
	15,575,000		AT&T, Inc		3.300		02/01/52		14,493
	12,870,000	g	AT&T, Inc		3.550		09/15/55		12,311
	5,127,000	g	AT&T, Inc		3.650		09/15/59		4,951
	1,875,000	g	Avaya, Inc		6.125		09/15/28		1,915
	2,000,000	g	Bharti Airtel International Netherlands BV		5.350		05/20/24		2,156
	2,000,000	g	Bharti Airtel Ltd		4.375		06/10/25		2,112
	3,000,000	g	C&W Senior Financing Designated Activity Co		6.875		09/15/27		3,116
	4,000,000		Deutsche Telekom International Finance BV		8.750		06/15/30		6,211
	1,325,000	g	Front Range BidCo, Inc		4.000		03/01/27		1,304
	4,000,000	g	MTN Mauritius Investment Ltd		6.500		10/13/26		4,438
	698,000	o	Oi S.A.		10.000		07/27/25		675
	3,950,000		Orange S.A.		5.375		01/13/42		5,550
	3,800,000		Rogers Communications, Inc		3.700		11/15/49		4,243
	1,525,000	g	Switch Ltd		3.750		09/15/28		1,540
	2,125,000		Telefonica Emisiones SAU		4.103		03/08/27		2,416
	32,175,000	g	T-Mobile USA, Inc		3.875		04/15/30		36,584
	21,500,000	g	T-Mobile USA, Inc		2.550		02/15/31		22,276
	2,525,000	g,h	T-Mobile USA, Inc		3.000		02/15/41		2,493

338

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,350,000	g	T-Mobile USA, Inc		4.500	%	04/15/50	$	2,825
	2,400,000	g	Turk Telekomunikasyon AS.		6.875		02/28/25		2,449
	577,000		Verizon Communications, Inc		3.376		02/15/25		642
EUR	400,000		Verizon Communications, Inc		1.375		10/27/26		500
$	3,000,000		Verizon Communications, Inc		4.125		03/16/27		3,540
	6,600,000		Verizon Communications, Inc		3.875		02/08/29		7,799
EUR	400,000		Verizon Communications, Inc		1.875		10/26/29		521
$	10,000,000		Verizon Communications, Inc		4.016		12/03/29		11,978
	39,589,000		Verizon Communications, Inc		3.150		03/22/30		44,707
	30,220,000		Verizon Communications, Inc		4.272		01/15/36		37,221
EUR	300,000		Verizon Communications, Inc		2.875		01/15/38		435
$	10,000,000		Verizon Communications, Inc		4.000		03/22/50		12,282
	8,700,000		Vodafone Group plc		4.375		05/30/28		10,296
	7,000,000		Vodafone Group plc		4.250		09/17/50		8,119
			TOTAL TELECOMMUNICATION SERVICES						432,567
TRANSPORTATION - 0.9%
	4,850,000	g	Adani Ports & Special Economic Zone Ltd		4.000		07/30/27		4,823
	2,000,000	g	Adani Ports & Special Economic Zone Ltd		4.200		08/04/27		2,007
EUR	400,000		Airbus SE		1.625		06/09/30		481
$	9,850,000		Boeing Co		2.950		02/01/30		9,526
	3,352,000		Boeing Co		3.250		02/01/35		3,148
	1,575,000		Boeing Co		3.750		02/01/50		1,441
	5,175,000		Burlington Northern Santa Fe LLC		3.050		02/15/51		5,622
	3,700,000		Canadian Pacific Railway Co		2.050		03/05/30		3,855
	2,040,000		CSX Corp		2.600		11/01/26		2,223
	7,125,000		CSX Corp		3.250		06/01/27		8,053
	3,500,000		CSX Corp		3.800		03/01/28		4,082
	23,495,000		CSX Corp		4.250		03/15/29		28,289
	10,650,000		CSX Corp		2.400		02/15/30		11,402
	9,250,000		Delta Air Lines, Inc		2.900		10/28/24		8,233
	2,150,000	g	Delta Air Lines, Inc		7.000		05/01/25		2,360
	1,275,000	g	Delta Air Lines, Inc		4.500		10/20/25		1,308
	4,575,000		Delta Air Lines, Inc		3.750		10/28/29		3,900
	1,450,000	g	DP World Ltd		5.625		09/25/48		1,653
EUR	400,000		FedEx Corp		1.000		01/11/23		478
	325,000		FedEx Corp		1.625		01/11/27		408
$	22,172,000		FedEx Corp		3.100		08/05/29		24,616
	1,600,000		Indian Railway Finance Corp Ltd		3.730		03/29/24		1,683
	1,975,000	g	Indian Railway Finance Corp Ltd		3.249		02/13/30		1,978
	1,350,000	g	Lima Metro Line 2 Finance Ltd		4.350		04/05/36		1,490
	1,175,000	g	Mileage Plus Holdings LLC		6.500		06/20/27		1,223
	225,000	g	Pelabuhan Indonesia III Persero PT		4.500		05/02/23		238
	6,150,000		Union Pacific Corp		3.950		09/10/28		7,250
	6,125,000		Union Pacific Corp		3.839		03/20/60		7,103
			TOTAL TRANSPORTATION						148,873
UTILITIES - 3.6%
	1,965,125	g	Adani Transmission Ltd		4.250		05/21/36		1,952
	1,650,000		AEP Transmission Co LLC		3.100		12/01/26		1,856
	1,650,000		AEP Transmission Co LLC		4.000		12/01/46		1,998
	3,475,000		Alabama Power Co		4.150		08/15/44		4,236
	7,000,000		Alabama Power Co		3.450		10/01/49		7,950
	2,500,000		Ameren Corp		3.500		01/15/31		2,856

339

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,750,000		American Water Capital Corp		3.000	%	12/01/26	$	2,984
	2,025,000		American Water Capital Corp		2.800		05/01/30		2,216
	2,375,000		American Water Capital Corp		4.000		12/01/46		2,867
	7,175,000		American Water Capital Corp		3.750		09/01/47		8,454
	1,325,000		American Water Capital Corp		3.450		05/01/50		1,482
	6,038,000		Appalachian Power Co		4.450		06/01/45		7,376
	10,375,000	h	Atmos Energy Corp		1.500		01/15/31		10,327
	1,175,000		Atmos Energy Corp		4.125		10/15/44		1,453
	6,500,000		Baltimore Gas & Electric Co		3.750		08/15/47		7,643
	5,500,000		Baltimore Gas & Electric Co		3.200		09/15/49		5,908
	5,925,000		Berkshire Hathaway Energy Co		3.250		04/15/28		6,714
	6,225,000		Black Hills Corp		4.250		11/30/23		6,829
	1,575,000		Black Hills Corp		3.150		01/15/27		1,689
	3,670,000		CenterPoint Energy Resources Corp		4.500		01/15/21		3,676
	3,550,000		CenterPoint Energy Resources Corp		6.250		02/01/37		4,712
EUR	350,000		CEZ AS.		0.875		12/02/26		417
$	4,675,000		CMS Energy Corp		3.600		11/15/25		5,223
	4,200,000		Commonwealth Edison Co		5.900		03/15/36		6,015
	8,250,000		Commonwealth Edison Co		3.000		03/01/50		8,798
	3,325,000		Consumers Energy Co		2.500		05/01/60		3,116
	4,125,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		4,384
	3,775,000		Dominion Resources, Inc		2.000		08/15/21		3,822
	13,775,000		DTE Electric Co		2.250		03/01/30		14,662
	3,250,000		DTE Electric Co		2.950		03/01/50		3,432
	5,825,000		Duke Energy Corp		1.800		09/01/21		5,895
	8,675,000		Duke Energy Corp		2.650		09/01/26		9,388
	5,000,000		Duke Energy Florida LLC		3.400		10/01/46		5,603
	1,438,452		Duke Energy Florida Project Finance LLC		1.731		09/01/22		1,409
	11,425,000		Duke Energy Indiana LLC		2.750		04/01/50		11,675
	1,450,000		Duke Energy Ohio, Inc		3.800		09/01/23		1,575
EUR	300,000		Electricite de France S.A.		2.000		10/02/30		396
$	3,000,000		Enel Chile S.A.		4.875		06/12/28		3,541
	4,300,000	g	ENN Energy Holdings Ltd		2.625		09/17/30		4,297
	5,700,000		Entergy Corp		2.950		09/01/26		6,293
	3,000,000	g	Eskom Holdings SOC Ltd		5.750		01/26/21		2,926
	2,050,000		Eversource Energy		0.800		08/15/25		2,039
	7,000,000		Eversource Energy		3.450		01/15/50		7,791
	2,475,000		Exelon Corp		4.050		04/15/30		2,895
	9,450,000		Exelon Generation Co LLC		3.400		03/15/22		9,795
	925,000		Florida Power & Light Co		2.850		04/01/25		1,014
	5,775,000		Florida Power & Light Co		3.990		03/01/49		7,377
	1,000,000	g	Grupo Energia Bogota S.A. ESP		4.875		05/15/30		1,117
	3,600,000		Indiana Michigan Power Co		3.750		07/01/47		4,177
	2,725,000		Integrys Energy Group, Inc		4.170		11/01/20		2,733
	4,525,000	g	Israel Electric Corp Ltd		4.250		08/14/28		5,134
	2,850,000	g	Kallpa Generacion SA		4.125		08/16/27		2,978
	3,475,000	g	KazTransGas JSC		4.375		09/26/27		3,739
	3,675,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		3,984
EUR	400,000		Medtronic Global Holdings S.C.A		0.375		10/15/28		471
$	6,975,000		MidAmerican Energy Co		3.650		04/15/29		8,305
	6,150,000		MidAmerican Energy Co		3.650		08/01/48		7,246
	3,000,000	g	Minejesa Capital BV		4.625		08/10/30		3,083
	2,625,000	g	Narragansett Electric Co		3.395		04/09/30		2,991
	7,350,000		Nevada Power Co		2.400		05/01/30		7,890

340

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,335,000		Nevada Power Co		5.450	%	05/15/41	$	4,495
	5,725,000		NextEra Energy Capital Holdings, Inc		2.750		11/01/29		6,174
	17,000,000		NextEra Energy Capital Holdings, Inc		2.250		06/01/30		17,692
	7,100,000		NiSource, Inc		3.490		05/15/27		7,909
	10,840,000		NiSource, Inc		3.600		05/01/30		12,344
	13,435,000		NiSource, Inc		1.700		02/15/31		13,189
	3,600,000		Northern States Power Co		2.900		03/01/50		3,845
	6,225,000		Northern States Power Co		2.600		06/01/51		6,303
	1,675,000		NSTAR Electric Co		3.950		04/01/30		2,025
EUR	230,000		NTPC Ltd		2.750		02/01/27		270
$	3,600,000		Ohio Power Co		2.600		04/01/30		3,947
	6,150,000		Ohio Power Co		4.150		04/01/48		7,641
	6,150,000		Ohio Power Co		4.000		06/01/49		7,514
	1,280,000		Oncor Electric Delivery Co LLC		5.250		09/30/40		1,757
	3,500,000		ONE Gas, Inc		3.610		02/01/24		3,806
	600,000	g	Pattern Energy Operations LP		4.500		08/15/28		623
	2,775,000		PECO Energy Co		3.000		09/15/49		2,955
	3,700,000		PECO Energy Co		2.800		06/15/50		3,828
	1,500,000	g	Perusahaan Gas Negara Persero Tbk PT		5.125		05/16/24		1,636
	3,000,000	g	Perusahaan Listrik Negara PT		4.125		05/15/27		3,233
	650,000	g	Perusahaan Listrik Negara PT		3.875		07/17/29		692
	3,000,000	g	Perusahaan Listrik Negara PT		3.375		02/05/30		3,094
	200,000	g	Perusahaan Listrik Negara PT		4.875		07/17/49		220
	750,000		Potomac Electric Power Co		7.900		12/15/38		1,133
	4,300,000		PPL Capital Funding, Inc		3.950		03/15/24		4,721
	2,000,000		PPL Electric Utilities Corp		3.000		09/15/21		2,038
	2,925,000	g	Promigas S.A. ESP		3.750		10/16/29		2,867
	9,725,000		PSEG Power LLC		3.850		06/01/23		10,462
	1,900,000	g	PTTEP Treasury Center Co Ltd		2.587		06/10/27		1,959
	3,000,000		Public Service Co of Colorado		4.050		09/15/49		3,787
	4,450,000		Public Service Co of Colorado		3.200		03/01/50		5,050
	7,970,000		Public Service Electric & Gas Co		3.150		01/01/50		8,995
	7,775,000		Public Service Electric & Gas Co		2.700		05/01/50		8,098
	5,450,000		Public Service Enterprise Group, Inc		0.800		08/15/25		5,413
	20,000,000		Southern Co		4.000		01/15/51		20,055
	8,475,000		Southern Co Gas Capital Corp		3.875		11/15/25		9,513
	2,125,000		Southern Co Gas Capital Corp		4.400		06/01/43		2,522
	2,000,000		Southern Co Gas Capital Corp		3.950		10/01/46		2,233
	8,250,000		Southern Power Co		2.500		12/15/21		8,444
	7,825,000		Southern Power Co		4.150		12/01/25		8,971
	2,440,000		Southwestern Public Service Co		3.400		08/15/46		2,691
	350,000	g	Tengizchevroil Finance Co International Ltd		2.625		08/15/25		351
	3,680,000		Virginia Electric & Power Co		2.950		01/15/22		3,771
	3,250,000		Virginia Electric & Power Co		2.950		11/15/26		3,616
	3,250,000		Virginia Electric & Power Co		3.500		03/15/27		3,697
	12,379,000		Virginia Electric & Power Co		3.800		04/01/28		14,545
	4,125,000		Wisconsin Power & Light Co		4.100		10/15/44		4,813
	2,975,000		Xcel Energy, Inc		3.350		12/01/26		3,351
	2,890,000		Xcel Energy, Inc		4.800		09/15/41		3,611
			TOTAL UTILITIES						544,703
			TOTAL CORPORATE BONDS						6,039,819
			(Cost $5,631,205)

341

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
GOVERNMENT BONDS -  37.9%
AGENCY SECURITIES - 1.0%
$	2,480,094		AMAL Ltd		3.465	%	08/21/21	$	2,519
	2,500,000		Amber Circle Funding Ltd		3.250		12/04/22		2,587
	3,516,000		Canal Barge Co, Inc		4.500		11/12/34		4,084
	7,742,813		DY9 Leasing LLC		2.372		03/19/27		8,163
	2,942,286		Export Lease Ten Co LLC		1.650		05/07/25		3,015
	809,194		Helios Leasing I LLC		2.018		05/29/24		829
	8,759,746		Helios Leasing II LLC		2.668		03/18/25		9,194
	9,819,177		HNA LLC		2.291		06/30/27		10,367
	10,890,000		Lutheran Medical Center		1.982		02/20/30		11,328
	2,408,609		MSN 41079 and 41084 Ltd		1.631		12/14/24		2,465
	11,142,857		Overseas Private Investment Corp (OPIC)		3.520		09/20/32		13,018
	2,254,516		Premier Aircraft Leasing		3.576		02/06/22		2,300
	24,000,000	g	Private Export Funding Corp (PEFCO)		3.266		11/08/21		24,734
	25,747,000		PEFCO		2.050		11/15/22		26,719
	8,225,000		PEFCO		1.750		11/15/24		8,670
	3,000,000	g	Reliance Industries Ltd		3.667		11/30/27		3,293
	2,249,060		Santa Rosa Leasing LLC		1.693		08/15/24		2,298
	11,415,000		UNM Sandoval Regional Medical Center		4.500		07/20/36		11,547
	5,730,552		Windermere Aviation LLC		2.351		05/27/26		6,016
			TOTAL AGENCY SECURITIES						153,146
FOREIGN GOVERNMENT BONDS - 5.1%
	4,000,000	g	Abu Dhabi Government International Bond		3.125		05/03/26		4,395
	2,000,000	g	Abu Dhabi Government International Bond		2.500		09/30/29		2,137
	5,400,000	g	Abu Dhabi Government International Bond		3.125		09/30/49		5,776
	750,000	g	Abu Dhabi Government International Bond		2.700		09/02/70		726
	3,325,000	g	Arab Petroleum Investments Corp		4.125		09/18/23		3,576
	34,039		Argentine Republic Government International Bond		1.000		07/09/29		16
	979,700		Argentine Republic Government International Bond (Step Bond)		0.125		07/09/30		409
AUD	400,000		Australia Government International Bond		2.250		05/21/28		321
$	3,000,000	g	Bahrain Government International Bond		5.450		09/16/32		2,850
	3,000,000	g	Banque Ouest Africaine de Developpement		4.700		10/22/31		3,131
	3,450,000	g	Bermuda Government International Bond		3.717		01/25/27		3,778
	2,500,000	g	Bermuda Government International Bond		4.750		02/15/29		2,982
	1,375,000	g	Bermuda Government International Bond		2.375		08/20/30		1,390
	17,400,000	g	BNG Bank NV		3.000		09/20/23		18,757
	3,120,000	g	Brazil Minas SPE via State of Minas Gerais		5.333		02/15/28		3,202
	2,225,000		Brazilian Government International Bond		3.875		06/12/30		2,223
	5,700,000		Brazilian Government International Bond		5.625		02/21/47		6,185
EUR	1,450,000		Bundesrepublik Deutschland Bundesanleihe		0.000		02/15/30		1,790
$	4,000,000	g	Caisse d’Amortissement de la Dette Sociale		1.875		02/12/22		4,085
EUR	400,000		Caisse d’Amortissement de la Dette Sociale		1.375		11/25/24		505
CAD	1,300,000	g	Canada Housing Trust No 1		2.550		12/15/23		1,043
	1,550,000		Canadian Government International Bond		1.500		02/01/22		1,184
	1,000,000		Canadian Government International Bond		5.000		06/01/37		1,236
$	3,050,000		Chile Government International Bond		2.550		01/27/32		3,218
CNY	9,700,000		China Government International Bond		2.940		10/17/24		1,425
	47,400,000		China Government International Bond		3.120		12/05/26		6,966
	18,900,000		China Government International Bond		3.860		07/22/49		2,771
	10,000,000		China Government International Bond		3.390		03/16/50		1,343
NOK	7,000,000		City of Oslo Norway		2.050		10/31/24		786

342

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	7,650,000		Colombia Government International Bond		3.000	%	01/30/30	$	7,772
	625,000		Colombia Government International Bond		3.125		04/15/31		641
	2,100,000		Colombia Government International Bond		5.000		06/15/45		2,447
	1,850,000	g	Corp Financiera de Desarrollo S.A.		2.400		09/28/27		1,866
	4,100,000	g	Costa Rica Government International Bond		5.625		04/30/43		3,378
	20,200,000	g	CPPIB Capital, Inc		2.250		01/25/22		20,724
	16,400,000	g	CPPIB Capital, Inc		2.750		11/02/27		18,675
CZK	18,000,000		Czech Republic Government International Bond		0.450		10/25/23		784
DKK	5,800,000	g	Denmark Government International Bond		0.500		11/15/29		991
DOP	48,650,000	g	Dominican Republic Government International Bond		8.900		02/15/23		830
	8,000,000	g	Dominican Republic Government International Bond		9.750		06/05/26		139
$	4,500,000	g	Dominican Republic Government International Bond		4.875		09/23/32		4,475
	2,000,000	g	Dominican Republic Government International Bond		6.500		02/15/48		2,023
	24,960	g	Ecuador Government International Bond		0.000		07/31/30		12
	75,600	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/30		51
	198,120	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/35		109
	90,800	g	Ecuador Government International Bond (Step Bond)		0.500		07/31/40		45
	1,725,000	g	Egypt Government International Bond		5.577		02/21/23		1,770
	500,000	g	Egypt Government International Bond		4.550		11/20/23		499
	425,000	g	Egypt Government International Bond		5.750		05/29/24		434
EGP	19,025,000		Egypt Government International Bond		15.900		07/02/24		1,255
$	325,000	g	Egypt Government International Bond		5.250		10/06/25		324
	725,000	g	Egypt Government International Bond		7.600		03/01/29		743
EUR	1,100,000	g	Egypt Government International Bond		5.625		04/16/30		1,165
	700,000	g	Egypt Government International Bond		6.375		04/11/31		761
$	2,700,000	g	Egypt Government International Bond		8.500		01/31/47		2,610
	1,445,000	g	El Salvador Government International Bond		7.125		01/20/50		1,125
	10,000,000		European Investment Bank		2.500		04/15/21		10,123
	3,500,000		European Investment Bank		4.875		02/15/36		5,278
	4,000,000	g	Export-Import Bank of India		3.875		02/01/28		4,195
	2,800,000		Export-Import Bank of Korea		0.750		09/21/25		2,792
	3,350,000		Export-Import Bank of Korea		1.250		09/21/30		3,297
EUR	3,000,000		French Republic Government Bond OAT		0.500		05/25/25		3,700
	2,650,000		French Republic Government Bond OAT		0.750		11/25/28		3,403
	1,820,000		French Republic Government Bond OAT		1.250		05/25/34		2,521
	1,200,000	g	French Republic Government Bond OAT		2.000		05/25/48		2,021
	860,000	g	French Republic Government Bond OAT		0.750		05/25/52		1,100
$	2,325,000	g	Ghana Government International Bond		8.125		03/26/32		2,034
	1,000,000	g	Ghana Government International Bond		8.627		06/16/49		840
	3,600,000	g	Guatemala Government International Bond		4.500		05/03/26		3,857
	450,000	g	Guatemala Government International Bond		4.375		06/05/27		481
	200,000	g	Guatemala Government International Bond		5.375		04/24/32		229
	600,000	g	Guatemala Government International Bond		6.125		06/01/50		716
EUR	2,725,000	g	Hellenic Republic Government International Bond		1.875		07/23/26		3,442
	1,500,000	g	Hellenic Republic Government International Bond		3.875		03/12/29		2,183
	1,650,000	g	Hellenic Republic Government International Bond		1.500		06/18/30		2,019
$	3,625,000	g	Honduras Government International Bond		6.250		01/19/27		3,966
	350,000	g	Honduras Government International Bond		5.625		06/24/30		374
CAD	1,800,000		Hydro-Quebec		5.000		02/15/45		2,113
IDR	7,750,000,000		Indonesia Treasury Bond		8.125		05/15/24		563

343

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
IDR	28,000,000,000		Indonesia Treasury Bond		7.000	%	09/15/30	$	1,888
	19,350,000,000		Indonesia Treasury Bond		7.500		05/15/38		1,288
AUD	500,000		Inter-American Development Bank		4.750		08/27/24		417
	900,000		Inter-American Development Bank		2.750		10/30/25		714
	1,300,000		International Bank for Reconstruction & Development		2.800		01/13/21		938
NZD	941,000		International Bank for Reconstruction & Development		3.375		01/25/22		648
AUD	400,000		International Bank for Reconstruction & Development		2.200		02/27/24		303
CAD	1,300,000		International Bank for Reconstruction & Development		1.900		01/16/25		1,030
$	1,921,875	g	Iraq Government International Bond		5.800		01/15/28		1,713
	6,200,000		Israel Government International Bond		3.250		01/17/28		7,064
ILS	3,100,000		Israel Government International Bond		5.500		01/31/42		1,576
	3,200,000		Israel Government International Bond		3.750		03/31/47		1,338
$	4,375,000		Israel Government International Bond		4.125		01/17/48		5,535
EUR	1,250,000		Italy Buoni Poliennali Del Tesoro		0.050		04/15/21		1,469
	3,500,000		Italy Buoni Poliennali Del Tesoro		2.450		10/01/23		4,408
	3,345,000		Italy Buoni Poliennali Del Tesoro		1.250		12/01/26		4,116
	1,225,000		Italy Buoni Poliennali Del Tesoro		2.950		09/01/38		1,791
	1,550,000		Italy Buoni Poliennali Del Tesoro		3.850		09/01/49		2,690
	1,000,000	g	Ivory Coast Government International Bond		5.875		10/17/31		1,059
$	1,909,000	g	Ivory Coast Government International Bond (Step Bond)		5.750		12/31/32		1,766
	2,850,000		Jamaica Government International Bond		7.875		07/28/45		3,607
	6,000,000		Japan Bank for International Cooperation		2.375		04/20/26		6,550
	2,700,000	g	Japan Finance Organization for Municipalities		2.125		02/12/21		2,716
	4,000,000	g	Japan Finance Organization for Municipalities		2.125		04/13/21		4,035
	6,650,000	g	Japan Finance Organization for Municipalities		3.375		09/27/23		7,200
JPY	113,000,000		Japan Finance Organization for Municipalities		0.450		03/14/25		1,093
$	2,500,000	g	Japan Finance Organization for Municipalities		1.000		05/21/25		2,533
JPY	103,000,000		Japan Finance Organization for Municipalities		0.484		06/13/25		998
	140,000,000		Japan Finance Organization for Municipalities		0.020		03/13/26		1,328
	76,000,000		Japan Government Five Year Bond		0.100		06/20/23		725
	440,000,000		Japan Government Ten Year Bond		0.100		09/20/26		4,222
	369,000,000		Japan Government Ten Year Bond		0.100		12/20/26		3,543
	122,000,000		Japan Government Ten Year Bond		0.100		06/20/29		1,169
	162,000,000		Japan Government Ten Year Bond		0.100		12/20/29		1,550
	350,000,000		Japan Government Thirty Year Bond		2.400		11/20/31		4,165
	350,000,000		Japan Government Thirty Year Bond		2.300		05/20/32		4,154
	418,000,000		Japan Government Thirty Year Bond		2.500		09/20/34		5,207
	450,000,000		Japan Government Thirty Year Bond		0.500		09/20/46		4,231
	530,000,000		Japan Government Twenty Year Bond		1.900		03/22/21		5,073
	93,000,000		Japan Government Twenty Year Bond		0.600		12/20/36		923
	219,000,000		Japan Government Twenty Year Bond		0.500		12/20/38		2,124
	153,000,000		Japan Government Twenty Year Bond		0.300		06/20/39		1,428
	379,000,000		Japan Government Two Year Bond		0.100		03/01/22		3,607
$	2,500,000	g	Jordan Government International Bond		4.950		07/07/25		2,490
	1,000,000	g	Jordan Government International Bond		5.750		01/31/27		1,000
	1,525,000	g	Kenya Government International Bond		6.875		06/24/24		1,549
	2,350,000	g	Kenya Government International Bond		7.000		05/22/27		2,304

344

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
EUR	1,875,000	g	Kingdom of Belgium Government International Bond			0.000	%	10/22/27	$	2,271
	1,080,000		Kingdom of Belgium Government International Bond			1.250		04/22/33		1,491
$	1,925,000	g	Kommunalbanken AS.			1.375		10/26/20		1,926
	3,750,000	g	Kommunalbanken AS.			1.625		02/10/21		3,768
	5,000,000	g	Kommunalbanken AS.			2.250		01/25/22		5,130
	2,600,000	g	Kommunalbanken AS.			2.750		02/05/24		2,805
EUR	500,000		Kommunalbanken AS.			0.625		04/20/26		617
$	3,000,000	g	Kommunalbanken AS.			1.125		06/14/30		3,041
	4,500,000	g	Kommuninvest I Sverige AB			2.250		05/29/21		4,558
	2,833,000	g	Kommuninvest I Sverige AB			2.625		09/15/22		2,961
	1,200,000	i	Korea Development Bank	LIBOR 3 M + 0.550%		0.799		03/12/21		1,201
	6,975,000	g	Korea Electric Power Corp			1.125		06/15/25		7,009
	2,675,000	g	Korea Housing Finance Corp			2.000		10/11/21		2,711
	5,775,000	g	Korea Housing Finance Corp			3.000		10/31/22		6,046
KRW	4,630,000,000		Korea Treasury Bond			1.375		09/10/21		3,986
	1,220,000,000		Korea Treasury Bond			1.875		03/10/22		1,060
	1,270,000,000		Korea Treasury Bond			1.500		03/10/25		1,105
	1,800,000,000		Korea Treasury Bond			1.500		12/10/26		1,561
	2,380,000,000		Korea Treasury Bond			2.375		09/10/38		2,284
$	45,000,000		Kreditanstalt fuer Wiederaufbau			2.750		10/01/20		45,000
	18,750,000		Kreditanstalt fuer Wiederaufbau			2.625		01/25/22		19,344
	5,750,000	g	Kuwait Government International Bond			2.750		03/20/22		5,903
	1,750,000	†,q	Lebanon Government International Bond			6.750		11/29/27		275
	5,250,000	g	Lithuania Government International Bond			6.625		02/01/22		5,666
MYR	3,100,000		Malaysia Government International Bond			4.893		06/08/38		881
MXN	23,500,000		Mexican Bonos			5.750		03/05/26		1,088
	14,300,000		Mexican Bonos			7.750		05/29/31		729
$	3,000,000		Mexico Government International Bond			4.150		03/28/27		3,333
	6,250,000		Mexico Government International Bond			3.250		04/16/30		6,378
	6,051,000		Mexico Government International Bond			6.050		01/11/40		7,566
	3,000,000	g	Mongolia Government International Bond			5.125		12/05/22		3,059
EUR	900,000	g	Morocco Government International Bond			1.500		11/27/31		991
$	5,750,000	g	Morocco Government International Bond			5.500		12/11/42		7,136
	3,075,000	g	Namibia Government International Bond			5.250		10/29/25		3,048
	4,500,000	g	Nederlandse Waterschapsbank NV			2.125		11/15/21		4,593
	5,000,000	g	Nederlandse Waterschapsbank NV			1.875		04/14/22		5,123
	4,000,000	g	Nederlandse Waterschapsbank NV			3.125		12/05/22		4,243
EUR	400,000	g	Netherlands Government International Bond			2.750		01/15/47		823
AUD	500,000		New South Wales Treasury Corp			4.000		05/20/26		426
NZD	1,450,000		New Zealand Government International Bond			2.750		04/15/25		1,077
	1,350,000		New Zealand Government International Bond			3.000		04/20/29		1,090
$	4,600,000	g	Nigeria Government International Bond			6.500		11/28/27		4,377
EUR	850,000	g	North Macedonia Government International Bond			3.675		06/03/26		1,067
NOK	36,880,000	g	Norway Government International Bond			1.375		08/19/30		4,239
$	1,500,000	g	Oman Government International Bond			6.000		08/01/29		1,381
	21,300,000	g	OMERS Finance Trust			2.500		05/02/24		22,783
	15,000,000	g	Ontario Teachers’ Finance Trust			1.625		09/12/24		15,606
	4,000,000		Panama Government International Bond			4.300		04/29/53		4,915
	6,455,000	g	Panama Notas del Tesoro			3.750		04/17/26		6,896
	1,650,000	g	Paraguay Government International Bond			4.700		03/27/27		1,870
	925,000	g	Paraguay Government International Bond			5.400		03/30/50		1,120
	4,275,000	g	Perusahaan Penerbit SBSN Indonesia III			3.900		08/20/24		4,695

345

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	9,350,000	g	Perusahaan Penerbit SBSN Indonesia III		4.400	%	03/01/28	$	10,676
	4,475,000		Peruvian Government International Bond		4.125		08/25/27		5,219
PEN	14,725,000	g	Peruvian Government International Bond		5.400		08/12/34		4,273
$	364,584	g	Petroamazonas EP		4.625		12/06/21		324
EUR	900,000	g	Portugal Obrigacoes do Tesouro OT		0.700		10/15/27		1,108
	1,525,000	g	Portugal Obrigacoes do Tesouro OT		1.950		06/15/29		2,069
CAD	650,000		Province of Quebec Canada		2.750		09/01/27		547
$	6,000,000		Province of Quebec Canada		7.500		09/15/29		9,201
	2,000,000	†,g	Provincia de Mendoza Argentina		8.375		05/19/24		1,300
	1,375,000	g	Qatar Government International Bond		3.400		04/16/25		1,507
	2,050,000	g	Qatar Government International Bond		3.750		04/16/30		2,375
	1,400,000	g	Republic of Belarus Government International Bond		7.625		06/29/27		1,363
	1,000,000		Republic of Italy Government International Bond		2.375		10/17/24		1,040
	8,000,000		Republic of Italy Government International Bond		4.000		10/17/49		8,580
	2,000,000	g	Republic of Paraguay		6.100		08/11/44		2,579
PLN	3,555,000		Republic of Poland Government International Bond		2.500		04/25/24		992
	6,825,000		Republic of Poland Government International Bond		3.250		07/25/25		1,987
	2,825,000		Republic of Poland Government International Bond		2.750		10/25/29		824
$	2,475,000		Republic of South Africa Government International Bond		4.850		09/27/27		2,440
	3,225,000	g	Republic of Uzbekistan Government International Bond		4.750		02/20/24		3,386
	3,000,000	g	Romanian Government International Bond		3.000		02/14/31		3,079
EUR	600,000	g	Romanian Government International Bond		2.000		01/28/32		692
RUB	72,000,000		Russian Federal Bond-OFZ		4.500		07/16/25		897
$	500,000	g	Saudi Government International Bond		2.500		02/03/27		521
	6,775,000	g	Saudi Government International Bond		4.500		04/17/30		8,097
	3,500,000	g	Saudi Government International Bond		3.750		01/21/55		3,786
EUR	1,000,000		Senegal Government International Bond		4.750		03/13/28		1,131
$	2,000,000	g	Senegal Government International Bond		6.750		03/13/48		1,893
EUR	1,250,000	g	Serbia Government International Bond		1.500		06/26/29		1,411
RSD	96,000,000		Serbia Treasury Bonds		5.875		02/08/28		1,117
	31,700,000		Serbia Treasury Bonds		4.500		08/20/32		334
$	4,000,000		South Africa Government International Bond		5.875		09/16/25		4,278
ZAR	12,200,000		South Africa Government International Bond		10.500		12/21/26		842
	15,100,000		South Africa Government International Bond		8.750		01/31/44		695
$	3,850,000	g	Southern Gas Corridor CJSC		6.875		03/24/26		4,377
EUR	2,550,000	g	Spain Government International Bond		2.750		10/31/24		3,368
	845,000		Spain Government International Bond		1.400		07/30/28		1,097
	1,475,000	g	Spain Government International Bond		0.600		10/31/29		1,800
	2,350,000	g	Spain Government International Bond		1.200		10/31/40		2,948
$	550,000	g	Sri Lanka Government International Bond		6.850		03/14/24		401
	1,000,000	g	Sri Lanka Government International Bond		6.825		07/18/26		699
	3,700,000		State of Israel		3.375		01/15/50		4,097
	5,280,000		Svensk Exportkredit AB		1.625		11/14/22		5,423
	9,590,000		Svensk Exportkredit AB		1.750		12/12/23		10,007
THB	48,800,000		Thailand Government International Bond		3.300		06/17/38		1,861
UAH	25,000,000		Ukraine Government International Bond		17.000		05/11/22		957
EUR	1,000,000	g	Ukraine Government International Bond		6.750		06/20/26		1,140
	5,400,000	g	Ukraine Government International Bond		4.375		01/27/30		5,156
GBP	1,800,000		United Kingdom Gilt		0.500		07/22/22		2,345
	3,050,000		United Kingdom Gilt		1.625		10/22/28		4,420
	2,450,000		United Kingdom Gilt		4.750		12/07/30		4,601
	2,450,000		United Kingdom Gilt		1.750		09/07/37		3,730

346

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
GBP	900,000		United Kingdom Gilt			1.500	%	07/22/47	$	1,368
	775,000		United Kingdom Gilt			1.625		10/22/54		1,263
UYU	21,800,000	g	Uruguay Government International Bond			8.500		03/15/28		531
$	4,357,410		Uruguay Government International Bond			4.375		01/23/31		5,180
AUD	2,735,000		Western Australian Treasury Corp			2.750		07/24/29		2,243
			TOTAL FOREIGN GOVERNMENT BONDS							758,203
MORTGAGE BACKED - 21.1%
$	7,732,106		Federal Home Loan Mortgage Corp (FHLMC)			3.000		10/15/33		8,631
	19,136,169		FHLMC			3.500		08/15/43		19,748
	11,018,528		FHLMC			3.500		03/15/44		12,077
	9,229,837	i	FHLMC	LIBOR 1 M + 5.920%		5.768		03/15/44		1,761
	28,815,641		FHLMC			4.000		10/01/47		31,894
	26,924,883		FHLMC			4.000		06/01/48		29,460
	17,769,288	i	FHLMC	LIBOR 1 M + 9.920%		9.676		06/15/48		22,331
	16,272,853		FHLMC			4.000		07/01/48		17,901
	23,125,255		FHLMC			3.000		09/01/48		24,313
	14,388,863	i	FHLMC	LIBOR 1 M + 9.840%		9.596		10/15/48		18,301
	35,330,968		FHLMC			3.000		11/01/49		37,582
	2,734		Federal Home Loan Mortgage Corp Gold (FGLMC)			7.000		05/01/23		3
	18,376		FGLMC			8.000		01/01/31		19
	4,849		FGLMC			7.000		01/01/32		5
	415,766		FGLMC			4.500		07/01/33		458
	2,885,056		FGLMC			7.000		12/01/33		3,377
	782,035		FGLMC			4.500		10/01/34		862
	547,827		FGLMC			4.500		04/01/35		604
	784,536		FGLMC			7.000		05/01/35		910
	2,375,379		FGLMC			5.000		06/01/36		2,733
	874,966		FGLMC			5.000		07/01/39		1,008
	117,109		FGLMC			4.500		12/01/43		131
	76,457		FGLMC			4.500		02/01/44		85
	2,974,857		FGLMC			4.500		10/01/44		3,322
	1,112,359		FGLMC			4.500		11/01/44		1,242
	1,852,636		FGLMC			4.500		11/01/44		2,068
	781,448		FGLMC			4.500		12/01/44		859
	1,177,907		FGLMC			4.500		12/01/44		1,315
	5,368,302		FGLMC			3.500		04/01/45		5,935
	816,764		FGLMC			4.500		05/01/45		876
	25,949,603		FGLMC			3.500		08/01/45		28,877
	43,652,284		FGLMC			3.500		10/01/45		48,151
	25,533,255		FGLMC			4.000		12/01/45		28,375
	66,363,407		FGLMC			3.500		08/01/46		73,127
	90,407,560		FGLMC			3.000		01/01/47		95,217
	72,039,484		FGLMC			3.000		02/01/47		75,560
	2,551,759		FGLMC			4.500		06/01/47		2,848
	5,188,800		FGLMC			4.000		09/01/47		5,687
	5,110,032		FGLMC			3.500		12/01/47		5,599
	26,018,191		FGLMC			3.500		03/01/48		28,447
	28,985,327		FGLMC			4.000		03/01/48		32,261
	14,175,313		FGLMC			4.000		07/01/48		15,597
	21,407,951		FGLMC			4.500		08/01/48		23,674
	10,044,886		FGLMC			4.500		10/01/48		11,214
	13,700,262		FGLMC			3.500		11/01/48		15,104
	26,688		Federal National Mortgage Association (FNMA)			8.000		07/01/24		29

347

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	7,144		FNMA			9.000	%	11/01/25	$	8
	4,832,196		FNMA			3.500		05/01/32		5,154
	34,425,791		FNMA			3.000		10/01/32		36,118
	24,000,000	h	FNMA			2.500		10/25/32		25,057
	433,143		FNMA			4.500		10/01/33		478
	757,704		FNMA			4.500		05/01/35		833
	4,888,606		FNMA			5.000		05/01/35		5,619
	2,217,570		FNMA			5.000		10/01/35		2,552
	91,000,000	h	FNMA			2.000		10/25/35		94,555
	1,863,925		FNMA			5.000		02/01/36		2,144
	4,111,142		FNMA			5.500		11/01/38		4,775
	3,646,246		FNMA			3.000		10/01/39		3,818
	30,493,243		FNMA			3.000		05/01/40		32,003
	4,238,302		FNMA			5.000		09/01/40		4,882
	6,311,801		FNMA			5.000		05/01/41		7,272
	22,213,080		FNMA			4.000		09/01/42		24,337
	12,186,705		FNMA			3.500		04/01/43		13,439
	5,683,812		FNMA			3.000		04/25/43		5,971
	10,886,448		FNMA			3.500		09/01/43		12,005
	11,103,479	i	FNMA	LIBOR 1 M + 5.950%		5.802		09/25/43		2,487
	5,435,441		FNMA			4.000		01/01/44		6,052
	8,965,172		FNMA			4.500		03/01/44		10,123
	5,409,125		FNMA			4.500		06/01/44		6,043
	5,606,324		FNMA			4.500		10/01/44		6,264
	10,021,555		FNMA			4.500		11/01/44		11,183
	3,374,986		FNMA			5.000		11/01/44		3,879
	3,358,108		FNMA			4.500		12/01/44		3,752
	4,323,951		FNMA			4.000		01/01/45		4,727
	29,756,628		FNMA			3.000		02/25/45		31,181
	6,236,016		FNMA			3.000		02/25/45		6,422
	489,648		FNMA			3.500		03/01/45		541
	361,534		FNMA			3.500		03/01/45		400
	1,200,494		FNMA			4.500		03/01/45		1,341
	8,622,571		FNMA			3.000		03/25/45		8,935
	510,762		FNMA			4.500		04/01/45		571
	25,161,434		FNMA			3.500		04/25/45		26,251
	11,926,559		FNMA			3.500		05/01/45		13,268
	6,335,589		FNMA			4.000		06/01/45		6,990
	9,846,906		FNMA			4.000		12/01/45		10,957
	46,846,924		FNMA			3.000		12/25/45		48,745
	15,896,020		FNMA			3.500		01/01/46		17,530
	28,651,935		FNMA			4.000		01/01/46		31,910
	816,327		FNMA			4.000		03/01/46		900
	14,272,607		FNMA			3.500		06/01/46		15,740
	15,501,867		FNMA			3.500		07/01/46		17,096
	27,249,896		FNMA			3.500		07/01/46		30,030
	5,656,218		FNMA			3.000		10/01/46		5,828
	16,171,782		FNMA			3.500		10/01/46		17,835
	23,742,114		FNMA			3.000		11/01/46		24,957
	29,724,429		FNMA			3.500		12/01/46		31,522
	86,740,634		FNMA			3.500		01/01/47		91,832
	6,643,659		FNMA			3.000		04/25/47		7,133
	7,312,440		FNMA			4.500		05/01/47		8,199
	2,625,447		FNMA			3.500		08/01/47		2,807

348

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,870,841		FNMA		3.500	%	09/01/47	$	3,060
	9,382,958		FNMA		4.000		09/01/47		10,064
	530,528		FNMA		4.000		09/01/47		568
	1,369,584		FNMA		3.000		11/01/47		1,412
	3,775,949		FNMA		3.000		11/01/47		3,889
	11,825,460		FNMA		3.500		11/01/47		13,067
	40,525,170		FNMA		4.000		12/01/47		45,110
	11,426,141		FNMA		4.000		12/01/47		12,242
	26,794,833		FNMA		3.500		01/01/48		29,638
	2,828,340		FNMA		3.500		01/01/48		3,111
	12,335,787		FNMA		4.500		01/01/48		13,884
	8,096,614		FNMA		3.500		02/01/48		8,567
	10,472,400		FNMA		4.500		02/01/48		11,781
	103,163,219		FNMA		3.000		02/25/48		109,649
	11,122,482		FNMA		4.000		03/01/48		12,298
	45,286,148		FNMA		4.500		03/01/48		50,843
	39,166,474		FNMA		4.000		04/01/48		41,820
	6,264,084		FNMA		4.500		05/01/48		6,991
	8,421,139		FNMA		4.500		05/01/48		9,454
	17,719,643		FNMA		5.000		08/01/48		20,086
	12,813,644		FNMA		0.000		11/25/48		11,879
	12,813,644		FNMA		3.000		11/25/48		1,428
	5,342,325		FNMA		3.000		06/01/49		5,498
	5,518,158		FNMA		3.000		08/01/49		6,006
	197,000,000	h	FNMA		2.500		10/01/50		206,783
	64,000,000	h	FNMA		2.000		10/25/50		66,160
	65,000,000	h	FNMA		3.000		10/25/50		68,090
	127,000,000	h	FNMA		2.000		11/25/50		130,972
	161,000,000	h	FNMA		2.500		11/25/50		168,514
	125,000,000		FNMA		3.000		11/25/50		130,972
	12,727,822		Government National Mortgage Association (GNMA)		3.700		10/15/33		14,053
	359,904		GNMA		5.000		04/15/38		404
	375,529		GNMA		6.500		11/20/38		438
	59,921		GNMA		4.500		02/20/39		69
	1,444,363		GNMA		5.000		06/15/39		1,657
	834,904		GNMA		5.000		06/15/39		958
	10,693,344		GNMA		3.700		08/15/40		11,540
	80,923		GNMA		4.500		08/20/41		91
	276,250		GNMA		4.500		09/20/41		318
	56,658		GNMA		4.500		01/20/44		65
	50,067		GNMA		4.500		02/20/44		58
	128,331		GNMA		4.500		05/20/44		148
	810,074		GNMA		4.500		05/20/44		932
	925,247		GNMA		4.500		08/20/44		1,066
	597,586		GNMA		4.500		09/20/44		688
	279,517		GNMA		4.500		10/20/44		309
	141,321		GNMA		4.500		11/20/44		153
	573,718		GNMA		4.500		12/20/44		661
	743,226		GNMA		4.500		02/20/45		838
	914,777		GNMA		4.500		08/20/45		1,055
	921,643		GNMA		4.500		08/20/45		1,063
	832,303		GNMA		4.500		12/20/45		959
	10,790,837		GNMA		4.000		06/20/46		1,259

349

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	164,000,000	h	GNMA		3.000	%	10/20/46	$	171,713
	17,256,685		GNMA		3.500		01/20/49		18,905
	69,000,000	h	GNMA		2.000		10/20/50		71,674
	101,965,000	h	GNMA		2.500		10/20/50		106,665
			TOTAL MORTGAGE BACKED						3,145,604
MUNICIPAL BONDS - 4.2%
	14,595,000		Bay Area Toll Authority		3.552		04/01/54		15,650
	2,975,000		Chicago Housing Authority		3.682		01/01/25		3,228
	245,000		City & County of San Francisco CA Community Facilities District		3.264		09/01/25		264
	1,000,000		City & County of San Francisco CA Community Facilities District		4.038		09/01/34		1,137
	845,000		City & County of San Francisco CA Community Facilities District		3.750		09/01/37		913
	2,000,000		City & County of San Francisco CA Community Facilities District		4.000		09/01/48		2,127
	8,080,000		City of Austin TX Electric Utility Revenue		2.456		11/15/22		8,438
	3,140,000		City of Austin TX Electric Utility Revenue		2.524		11/15/23		3,342
	8,025,000		City of Austin TX Electric Utility Revenue		2.574		11/15/24		8,664
	4,940,000		City of Austin TX Electric Utility Revenue		2.677		11/15/25		5,428
	2,775,000		City of Dallas TX Waterworks & Sewer System Revenue		2.068		10/01/23		2,901
	1,350,000		City of Dallas TX Waterworks & Sewer System Revenue		2.389		10/01/25		1,461
	3,995,000		City of Los Angeles CA Wastewater System Revenue		4.029		06/01/39		4,514
	7,470,000		City of New York NY		3.010		08/01/24		8,034
	4,870,000		City of New York NY		3.430		12/01/24		5,348
	4,940,000		City of New York NY		3.200		12/01/26		5,513
	1,575,000		City of San Antonio TX Customer Facility Charge Revenue		4.353		07/01/25		1,696
	4,055,000		Commonwealth Financing Authority		3.864		06/01/38		4,662
	19,355,000		Commonwealth Financing Authority		3.807		06/01/41		22,003
	1,875,000		County of Miami-Dade FL Aviation Revenue		1.885		10/01/21		1,882
	1,505,000		County of Miami-Dade FL Aviation Revenue		2.218		10/01/22		1,524
	1,500,000		County of Miami-Dade FL Aviation Revenue		2.368		10/01/23		1,530
	2,500,000		County of Miami-Dade FL Aviation Revenue		3.285		10/01/23		2,617
	3,500,000		County of Miami-Dade FL Aviation Revenue		2.504		10/01/24		3,597
	2,250,000		County of Miami-Dade FL Aviation Revenue		3.405		10/01/24		2,390
	4,365,000		County of Miami-Dade FL Aviation Revenue		2.604		10/01/25		4,514
	2,375,000		County of Miami-Dade FL Aviation Revenue		3.505		10/01/25		2,557
	2,500,000		County of Miami-Dade FL Aviation Revenue		2.704		10/01/26		2,600
	3,940,000		County of Miami-Dade FL Aviation Revenue		3.049		10/01/26		4,147
	3,750,000		County of Miami-Dade FL Aviation Revenue		3.612		10/01/26		4,092
	4,700,000		County of Miami-Dade FL Aviation Revenue		2.529		10/01/30		4,709
	3,730,000		County of Miami-Dade FL Aviation Revenue		3.732		10/01/37		3,934
	3,900,000		County of Miami-Dade FL Aviation Revenue		3.982		10/01/41		4,124
	9,160,000		County of Miami-Dade FL Aviation Revenue		4.280		10/01/41		9,878
	2,000,000		Duke University		3.199		10/01/38		2,170
	5,080,000		Illinois Finance Authority		3.944		08/15/47		6,029
	1,000,000		Los Angeles County Redevelopment Agency		2.000		09/01/22		1,027
	2,350,000		Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		1.500		09/01/21		2,371

350

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	4,805,000	Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy		3.375	%	09/01/35	$	5,058
	2,000,000	Menlo Park City School District		2.969		07/01/38		2,118
	2,560,000	Michigan Finance Authority		1.941		11/01/21		2,605
	3,000,000	Michigan Finance Authority		2.244		11/01/22		3,112
	10,000,000	Michigan Finance Authority		2.862		09/01/49		10,324
	14,000,000	Michigan Finance Authority		2.988		09/01/49		15,026
	500,000	New Jersey Economic Development Authority		3.700		06/15/21		508
	1,110,000	New Jersey Economic Development Authority		3.800		07/01/22		1,136
	870,000	New York City Housing Development Corp		3.403		05/01/22		903
	750,000	New York City Housing Development Corp		3.453		11/01/22		788
	1,360,000	New York City Housing Development Corp		3.523		05/01/23		1,446
	1,815,000	New York City Housing Development Corp		3.573		11/01/23		1,953
	1,000,000	New York City Housing Development Corp		3.650		05/01/24		1,088
	5,680,000	New York State Dormitory Authority		3.998		07/01/39		6,330
	10,605,000	New York State Dormitory Authority		4.294		07/01/44		11,815
	6,000,000	New York State Dormitory Authority		3.879		07/01/46		6,518
	5,000,000	New York State Thruway Authority		2.256		01/01/25		5,115
	6,460,000	New York State Thruway Authority		2.406		01/01/26		6,629
	4,750,000	New York State Thruway Authority		2.500		01/01/27		4,907
	855,000	Oklahoma City Economic Development Trust		3.172		09/01/21		875
	1,120,000	Oklahoma City Economic Development Trust		3.222		09/01/22		1,175
	810,000	Oklahoma City Economic Development Trust		3.440		09/01/24		890
	2,350,000	Oregon State Lottery		2.505		04/01/24		2,496
	2,160,000	Permanent University Fund		2.408		07/01/21		2,195
	2,750,000	Permanent University Fund		2.508		07/01/22		2,856
	3,250,000	Permanent University Fund		2.708		07/01/24		3,511
	2,335,000	Permanent University Fund		2.808		07/01/25		2,566
	3,775,000	Permanent University Fund		2.908		07/01/26		4,208
	4,000,000	Permanent University Fund		3.008		07/01/27		4,513
	2,000,000	Port of Corpus Christi Authority of Nueces County		3.138		12/01/22		2,103
	3,400,000	Port of Corpus Christi Authority of Nueces County		3.287		12/01/23		3,662
	1,500,000	Port of Corpus Christi Authority of Nueces County		3.387		12/01/24		1,648
	1,000,000	Port of Corpus Christi Authority of Nueces County		3.487		12/01/25		1,124
	2,075,000	Port of Morrow OR		1.782		09/01/21		2,104
	1,910,000	Public Finance Authority		4.269		07/01/40		2,263
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.037		05/15/23		1,034
	1,000,000	Regents of the University of California Medical Center Pooled Revenue		2.259		05/15/24		1,052
	1,250,000	Regents of the University of California Medical Center Pooled Revenue		2.359		05/15/25		1,333
	1,785,000	Regents of the University of California Medical Center Pooled Revenue		2.459		05/15/26		1,923
	1,600,000	Regents of the University of California Medical Center Pooled Revenue		2.559		05/15/27		1,739
	700,000	Regents of the University of California Medical Center Pooled Revenue		2.659		05/15/28		769
	900,000	Regents of the University of California Medical Center Pooled Revenue		2.759		05/15/29		999
	6,000,000	San Francisco City & County Airport Comm-San Francisco International Airport		3.046		05/01/22		6,186
	6,360,000	San Jose Redevelopment Agency		3.375		08/01/34		6,957

351

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	335,000	Santa Ana Community Redevelopment Agency Successor Agency		3.346	%	09/01/21	$	344
	1,340,000	Santa Ana Community Redevelopment Agency Successor Agency		3.467		09/01/22		1,419
	1,340,000	Santa Ana Community Redevelopment Agency Successor Agency		3.567		09/01/23		1,463
	13,060,000	State of California		4.600		04/01/38		15,555
	3,215,000	State of Georgia		2.150		07/01/21		3,263
	3,465,000	State of Georgia		1.910		02/01/23		3,600
	4,100,000	State of Georgia		2.850		07/01/26		4,272
	4,305,000	State of Georgia		2.950		07/01/27		4,478
	4,520,000	State of Georgia		3.050		07/01/28		4,692
	3,245,000	State of Georgia		3.150		07/01/29		3,374
	12,500,000	State of Illinois		2.250		06/15/21		12,430
	10,500,000	State of Illinois		3.150		06/15/26		10,283
	12,500,000	State of Illinois		3.250		06/15/27		12,167
	27,150,000	State of Illinois		5.100		06/01/33		27,438
	20,000,000	State of Michigan		1.579		11/01/20		20,023
	10,500,000	State of Michigan		1.779		11/01/21		10,672
	7,000,000	State of Michigan		1.966		11/01/22		7,215
	3,510,000	State of Oregon		1.783		05/01/24		3,670
	9,700,000	State of Oregon Department of Administrative Services		4.103		05/01/39		10,927
	9,900,000	State of Wisconsin		3.154		05/01/27		11,120
	6,000,000	University of California		2.570		05/15/22		6,214
	25,860,000	University of California		3.063		07/01/25		28,577
	10,230,000	University of California		4.601		05/15/31		12,378
	17,045,000	University of California		3.931		05/15/45		20,089
	21,000,000	University of Chicago		4.151		10/01/45		21,733
	7,620,000	University of Massachusetts Building Authority		3.097		11/01/35		8,126
	13,000,000	University of Massachusetts Building Authority		3.434		11/01/40		13,948
	20,000,000	University of New Mexico		3.532		06/20/32		21,897
	500,000	Utah Municipal Power Agency		2.023		07/01/21		504
	1,750,000	Utah Municipal Power Agency		2.262		07/01/22		1,790
	1,500,000	Utah Municipal Power Agency		2.512		07/01/23		1,560
	2,160,000	Virginia Port Authority		4.228		07/01/36		2,349
	390,000	Washington Convention & Sports Authority		3.969		10/01/30		410
		TOTAL MUNICIPAL BONDS						626,555
U.S. TREASURY SECURITIES - 6.5%
	42,427,000	United States Treasury Bond		4.500		02/15/36		64,201
	4,500,000	United States Treasury Bond		4.750		02/15/37		7,091
	22,750,000	United States Treasury Bond		3.500		02/15/39		31,935
	11,900,000	United States Treasury Bond		3.875		08/15/40		17,614
	19,135,000	United States Treasury Bond		4.375		05/15/41		30,283
	16,434,000	United States Treasury Bond		3.750		08/15/41		24,122
	6,000,000	United States Treasury Bond		2.750		11/15/42		7,683
	56,375,000	United States Treasury Bond		3.625		08/15/43		82,193
	35,680,000	United States Treasury Bond		3.000		05/15/45		47,769
	81,710,000	United States Treasury Bond		2.875		08/15/45		107,350
	52,140,000	United States Treasury Bond		2.500		05/15/46		64,415
	1,075,000	United States Treasury Bond		3.000		05/15/47		1,456
	30,710,000	United States Treasury Bond		2.750		11/15/47		39,908
	6,155,000	United States Treasury Bond		3.125		05/15/48		8,557
	52,015,000	United States Treasury Bond		3.000		08/15/48		70,893
	40,120,000	United States Treasury Bond		3.375		11/15/48		58,373

352

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	31,431,096	k	United States Treasury Inflation Indexed Bonds			0.500	%	04/15/24	$	33,365
	39,285,000		United States Treasury Note			0.125		08/31/22		39,274
	14,105,000		United States Treasury Note			0.125		09/30/22		14,103
	20,916,000		United States Treasury Note			0.125		09/15/23		20,896
	48,875,000		United States Treasury Note			0.250		09/30/25		48,810
	56,900,000		United States Treasury Note			0.375		07/31/27		56,589
	48,020,000		United States Treasury Note			0.625		08/15/30		47,742
	27,485,000		United States Treasury Note			1.250		05/15/50		26,046
	12,475,000		United States Treasury Note			1.375		08/15/50		12,206
			TOTAL U.S. TREASURY SECURITIES							962,874
			TOTAL GOVERNMENT BONDS							5,646,382
			(Cost $5,300,130)
STRUCTURED ASSETS - 16.7%
ASSET BACKED - 7.5%
	5,000,000	g,i	AGL CLO 7 Ltd	LIBOR 3 M + 1.800%		0.000		07/15/31		5,017
			Series - 2020 7A (Class A1)
	7,500,000	†,g,h,i	Aimco CLO 11 Ltd	LIBOR 3 M + 1.380%		0.000		10/15/31		7,500
			Series - 2020 11A (Class A1)
	2,000,000	g,i	Allegany Park CLO Ltd	LIBOR 3 M + 1.330%		1.602		01/20/33		1,992
			Series - 2019 1A (Class A)
	2,750,000		Ally Auto Receivables Trust			1.840		06/17/24		2,798
			Series - 2019 4 (Class A3)
	10,000,000		AmeriCredit Automobile Receivables Trust			1.110		08/19/24		10,105
			Series - 2020 1 (Class A3)
	5,500,000		AmeriCredit Automobile Receivables Trust			0.660		12/18/24		5,519
			Series - 2020 2 (Class A3)
	4,120,000		AmeriCredit Automobile Receivables Trust			2.130		03/18/26		4,173
			Series - 2020 2 (Class D)
	2,121,964	g	AMSR Trust			1.819		04/17/37		2,163
			Series - 2020 SFR1 (Class A)
	3,499,000	g,i	AMSR Trust			3.148		01/19/39		3,609
			Series - 2019 SFR1 (Class C)
	3,347,000	g,i	AMSR Trust			3.247		01/19/39		3,423
			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)
	1,157,455	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 0.900%		3.386		08/25/34		1,140
			Series - 2004 HE5 (Class M1)
	8,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.450		03/20/23		8,186
			Series - 2019 1A (Class A)
	12,000,000	g	Avis Budget Rental Car Funding AESOP LLC			3.070		09/20/23		12,283
			Series - 2017 1A (Class A)
	32,000,000	g	Avis Budget Rental Car Funding AESOP LLC			2.970		03/20/24		33,021
			Series - 2017 2A (Class A)
	17,600,000		BA Credit Card Trust			1.740		01/15/25		18,106
			Series - 2019 A1 (Class A1)
	4,745,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.975%		1.120		02/28/41		4,703
			Series - 2006 A (Class M3)

353

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	5,901,861	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 0.670%		0.818	%	04/25/36	$	5,861
			Series - 2006 SD1 (Class M1)
	3,917,212	g	BRE Grand Islander Timeshare Issuer LLC			3.280		09/26/33		4,017
			Series - 2019 A (Class A)
	7,558,204	g	Capital Automotive REIT			3.660		10/15/44		7,581
			Series - 2014 1A (Class A)
	6,570,258	g	Capital Automotive REIT			3.870		04/15/47		6,582
			Series - 2017 1A (Class A1)
	13,315,839	g	Capital Automotive REIT			2.690		02/15/50		13,483
			Series - 2020 1A (Class A1)
	7,550,000		CarMax Auto Owner Trust			1.890		12/16/24		7,749
			Series - 2020 1 (Class A3)
	27,000,000	g,i	Cayuga Park CLO, Ltd.	LIBOR 3 M + 1.600%		0.000		07/17/31		27,041
			Series - 2020 1A (Class A)
	1,515,673	i	C-BASS Trust	LIBOR 1 M + 0.080%		0.228		07/25/36		1,447
			Series - 2006 CB6 (Class A1)
	19,100,000	g	CF Hippolyta LLC			1.690		07/15/60		19,312
			Series - 2020 1 (Class A1)
	5,740,421	g	CF Hippolyta LLC			1.990		07/15/60		5,853
			Series - 2020 1 (Class A2)
	3,270,000	g	CF Hippolyta LLC			2.280		07/15/60		3,327
			Series - 2020 1 (Class B1)
	428,194	i	Chase Funding Mortgage Loan Asset-Backed Certificates			5.700		02/26/35		456
			Series - 2004 2 (Class 1M2)
	59,500,000		Chase Issuance Trust			1.530		01/15/25		61,195
			Series - 2020 A1 (Class A1)
	1,500,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 1.220%		1.492		07/20/30		1,474
			Series - 2017 3A (Class A1)
	11,750,000	g,i	CIFC Funding Ltd	LIBOR 3 M + 1.650%		1.932		08/24/32		11,788
			Series - 2020 2A (Class A1)
	223,816		CIT Group Home Equity Loan Trust (Step Bond)			6.200		02/25/30		229
			Series - 2002 1 (Class AF6)
	1,000,000	i	Citibank Credit Card Issuance Trust	LIBOR 1 M + 0.330%		0.486		01/20/25		1,002
			Series - 2018 A2 (Class A2)
	650,000	i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.750%		0.898		01/25/36		645
			Series - 2006 WFH1 (Class M4)
	9,895,149	g	Corevest American Finance Trust			1.832		03/15/50		9,882
			Series - 2020 1 (Class A1)
	20,606,625	g	DB Master Finance LLC			3.629		11/20/47		21,221
			Series - 2017 1A (Class A2I)
	4,752,000	g	DB Master Finance LLC			3.787		05/20/49		4,898
			Series - 2019 1A (Class A2I)
	8,226,900	g	DB Master Finance LLC			4.021		05/20/49		8,727
			Series - 2019 1A (Class A2II)
	3,443,874	g	Diamond Resorts Owner Trust			3.700		01/21/31		3,573
			Series - 2018 1 (Class A)
	9,082,025	g	Diamond Resorts Owner Trust			2.890		02/20/32		9,361
			Series - 2019 1A (Class A)
	2,000,000	i	Discover Card Execution Note Trust	LIBOR 1 M + 0.360%		0.512		10/15/22		2,005
			Series - 2017 A7 (Class A7)
	38,972,938	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		39,052
			Series - 2017 1A (Class A2II)

354

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	5,920,000	g,i	Dryden 50 Senior Loan Fund	LIBOR 3 M + 1.220%		1.495	%	07/15/30	$	5,873
			Series - 2017 50A (Class A1)
	2,695,251	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		1.248		05/25/37		2,689
			Series - 2007 2 (Class A2C)
	6,000,000	g	Ford Credit Auto Owner Trust			2.620		08/15/28		6,183
			Series - 2017 1 (Class A)
	17,050,000	g	Ford Credit Auto Owner Trust			2.360		03/15/29		17,659
			Series - 2017 2 (Class A)
	12,000,000		Ford Credit Floorplan Master Owner Trust			2.230		09/15/24		12,403
			Series - 2019 3 (Class A1)
	750,000	g,i	FREMF Mortgage Trust			4.158		03/25/49		830
			Series - 2016 K53 (Class B)
	9,750,000		GM Financial Automobile Leasing Trust			1.670		12/20/22		9,897
			Series - 2020 1 (Class A3)
	10,100,000		GM Financial Consumer Automobile Receivables Trust			1.840		09/16/24		10,345
			Series - 2020 1 (Class A3)
	4,000,000	g	GSCG Trust			2.936		09/06/34		4,074
			Series - 2019 600C (Class A)
	501,978	g	HERO Funding Trust			3.280		09/20/48		519
			Series - 2017 2A (Class A1)
	1,004,367	g	HERO Funding Trust			4.070		09/20/48		1,061
			Series - 2017 2A (Class A2)
	2,052,516	g	Hertz Vehicle Financing II LP			3.710		03/25/23		2,056
			Series - 2019 1A (Class A)
	6,048,905	g	Hertz Vehicle Financing II LP			3.290		02/25/24		6,065
			Series - 2018 1A (Class A)
	1,953,419	g	Hertz Vehicle Financing II LP			3.420		05/25/25		1,959
			Series - 2019 2A (Class A)
	3,904,793	g	Hertz Vehicle Financing LLC			4.030		07/25/24		3,930
			Series - 2018 3A (Class A)
	3,980,407	g	Hilton Grand Vacations Trust			2.660		12/26/28		4,063
			Series - 2017 AA (Class A)
	3,433,101	g	Hilton Grand Vacations Trust			2.960		12/26/28		3,453
			Series - 2017 AA (Class B)
	7,927,834	g	Hilton Grand Vacations Trust			2.340		07/25/33		8,112
			Series - 2019 AA (Class A)
	745,806	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		745
			Series - 2003 1 (Class M1)
	11,035,000		Honda Auto Receivables Owner Trust			1.830		01/18/24		11,285
			Series - 2019 4 (Class A3)
	4,837,711	g	Horizon Aircraft Finance III Ltd			3.425		11/15/39		4,435
			Series - 2019 2 (Class A)
	400,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.450%		1.602		06/17/37		399
			Series - 2018 SFR2 (Class D)
	2,297,023	g,i	Invitation Homes Trust	LIBOR 1 M + 1.000%		1.151		07/17/37		2,297
			Series - 2018 SFR3 (Class A)
	6,038,240	g,i	Invitation Homes Trust	LIBOR 1 M + 1.100%		1.251		01/17/38		6,038
			Series - 2018 SFR4 (Class A)
	2,700,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.650%		1.801		01/17/38		2,700
			Series - 2018 SFR4 (Class D)
	5,926,665	g	JG Wentworth XXII LLC			3.820		12/15/48		6,217
			Series - 2010 3A (Class A)

355

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	4,807,683	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.320%		0.468	%	03/25/37	$	4,716
			Series - 2007 CH3 (Class A1B)
	17,652,277	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%		0.308		06/25/37		17,251
			Series - 2007 CH5 (Class A1)
	5,700,000	g	Laurel Road Prime Student Loan Trust			0.720		11/25/50		5,700
			Series - 2020 A (Class A1FX)
	1,000,000	g,i	Madison Park Funding X Ltd	LIBOR 3 M + 1.800%		2.072		01/20/29		997
			Series - 2012 10A (Class BR2)
	530,000	g,i	Magnetite XVIII Ltd	LIBOR 3 M + 1.500%		0.000		11/15/28		522
			Series - 2016 18A (Class BR)
	1,564,770	g	MVW Owner Trust			2.520		12/20/32		1,572
			Series - 2015 1A (Class A)
	3,425,266	g	MVW Owner Trust			2.420		12/20/34		3,492
			Series - 2017 1A (Class A)
	3,907,626	g	MVW Owner Trust			3.450		01/21/36		4,048
			Series - 2018 1A (Class A)
	4,452,355	g	MVW Owner Trust			2.890		11/20/36		4,577
			Series - 2019 1A (Class A)
	13,520,368	g	MVW Owner Trust			2.220		10/20/38		13,802
			Series - 2019 2A (Class A)
	4,400,000	g	Navient Student Loan Trust			3.390		12/15/59		4,546
			Series - 2019 BA (Class A2A)
	19,500,000	g,i	Octagon Investment Partners 46 Ltd	LIBOR 3 M + 1.650%		0.000		07/15/33		19,453
			Series - 2020 2A (Class A)
	9,500,000	†,g,h,i	OHA Credit Funding 7 Ltd	LIBOR 3 M + 1.250%		1.000		10/19/32		9,500
			Series - 2020 7A (Class A)
	17,005,000	g	OneMain Financial Issuance Trust			3.840		05/14/32		17,884
			Series - 2020 1A (Class A)
	17,350,000	g	OneMain Financial Issuance Trust			1.750		09/14/35		17,476
			Series - 2020 2A (Class A)
	1,158,838	g	Orange Lake Timeshare Trust			3.100		11/08/30		1,194
			Series - 2018 A (Class A)
	6,250,000	g	PFS Financing Corp			0.930		08/15/24		6,254
			Series - 2020 F (Class A)
	20,500,000	g	PFS Financing Corp			1.270		06/15/25		20,661
			Series - 2020 A (Class A)
	9,000,000	g	PFS Financing Corp			1.000		10/15/25		9,032
			Series - 2020 E (Class A)
	2,247,035	g	Pretium Mortgage Credit Partners I LLC (Step Bond)			3.844		12/27/58		2,251
			Series - 2019 NPL2 (Class A1)
	4,491,640	g	Progress Residential Trust			2.897		12/17/34		4,506
			Series - 2017 SFR2 (Class A)
	2,809,000	g	Progress Residential Trust			2.937		10/17/36		2,893
			Series - 2019 SFR4 (Class B)
	4,159,185	g	PRPM LLC (Step Bond)			3.967		04/25/24		4,194
			Series - 2019 2A (Class A1)
	2,790,000	i	RASC Trust	LIBOR 1 M + 0.590%		3.080		08/25/35		2,781
			Series - 2005 KS8 (Class M4)
	12,653	i	Renaissance Home Equity Loan Trust	LIBOR 1 M + 0.880%		1.028		08/25/33		12
			Series - 2003 2 (Class A)
	15,420,000		Santander Drive Auto Receivables Trust			2.220		09/15/26		15,743
			Series - 2020 2 (Class D)

356

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	1,396,674	g	Sierra Timeshare Receivables Funding LLC		2.580	%	09/20/32	$	1,398
			Series - 2015 3A (Class A)
	1,684,696	g	Sierra Timeshare Receivables Funding LLC		3.080		09/20/32		1,684
			Series - 2015 3A (Class B)
	804,199	g	Sierra Timeshare Receivables Funding LLC		3.080		03/21/33		805
			Series - 2016 1A (Class A)
	2,634,072	g	Sierra Timeshare Receivables Funding LLC		2.330		07/20/33		2,647
			Series - 2016 2A (Class A)
	419,438	g	Sierra Timeshare Receivables Funding LLC		2.780		07/20/33		420
			Series - 2016 2A (Class B)
	2,034,151	g	Sierra Timeshare Receivables Funding LLC		2.430		10/20/33		2,049
			Series - 2016 3A (Class A)
	1,205,423	g	Sierra Timeshare Receivables Funding LLC		2.630		10/20/33		1,208
			Series - 2016 3A (Class B)
	6,543,135	g	Sierra Timeshare Receivables Funding LLC		2.910		03/20/34		6,654
			Series - 2017 1A (Class A)
	3,016,327	g	Sierra Timeshare Receivables Funding LLC		3.200		03/20/34		3,038
			Series - 2017 1A (Class B)
	3,533,671	g	Sierra Timeshare Receivables Funding LLC		3.500		06/20/35		3,673
			Series - 2018 2A (Class A)
	4,074,720	g	Sierra Timeshare Receivables Funding LLC		3.200		01/20/36		4,215
			Series - 2019 1A (Class A)
	6,339,462	g	Sierra Timeshare Receivables Funding LLC		2.590		05/20/36		6,513
			Series - 2019 2A (Class A)
	3,876,032	g	Sierra Timeshare Receivables Funding LLC		2.340		08/20/36		3,964
			Series - 2019 3A (Class A)
	1,382,494	g	SMB Private Education Loan Trust		2.490		06/15/27		1,398
			Series - 2015 A (Class A2A)
	3,110,435	g	SMB Private Education Loan Trust		2.750		07/15/27		3,156
			Series - 2015 C (Class A2A)
	7,001,735	g	SMB Private Education Loan Trust		2.430		02/17/32		7,166
			Series - 2016 B (Class A2A)
	10,437,961	g	SMB Private Education Loan Trust		2.880		09/15/34		10,803
			Series - 2017 A (Class A2A)
	10,991,440	g	SMB Private Education Loan Trust		2.820		10/15/35		11,360
			Series - 2017 B (Class A2A)
	4,719,964	g	SMB Private Education Loan Trust		3.500		02/15/36		5,001
			Series - 2018 A (Class A2A)
	6,743,404	g	SoFi Professional Loan Program LLC		2.340		04/25/33		6,863
			Series - 2016 D (Class A2B)
	5,336,376	g	SoFi Professional Loan Program LLC		2.490		01/25/36		5,409
			Series - 2016 E (Class A2B)
	1,195,094	g	SoFi Professional Loan Program LLC		2.760		12/26/36		1,210
			Series - 2016 A (Class A2)
	2,518,099	g	SoFi Professional Loan Program LLC		2.400		03/26/40		2,547
			Series - 2017 A (Class A2B)
	6,862,126	g	SoFi Professional Loan Program LLC		2.740		05/25/40		6,973
			Series - 2017 B (Class A2FX)
	2,410,517	g	SoFi Professional Loan Program LLC		2.630		07/25/40		2,459
			Series - 2017 C (Class A2B)
	9,350,544	g	SoFi Professional Loan Program LLC		2.720		11/26/40		9,505
			Series - 2017 E (Class A2B)
	11,026,380	g	SoFi Professional Loan Program LLC		2.840		01/25/41		11,331
			Series - 2017 F (Class A2FX)

357

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	21,000,000	g	SoFi Professional Loan Program LLC			2.950	%	02/25/42	$	21,687
			Series - 2018 A (Class A2B)
	15,806,852	g	SoFi Professional Loan Program LLC			2.060		05/15/46		15,958
			Series - 2020 A (Class A1FX)
	5,500,000	g	SoFi Professional Loan Program LLC			3.690		06/15/48		5,815
			Series - 2019 A (Class A2FX)
	10,000,000	g	SpringCastle America Funding LLC			1.970		09/25/37		10,034
			Series - 2020 AA (Class A)
	9,000,000	g	Stack Infrastructure Issuer LLC			1.893		08/25/45		9,059
			Series - 2020 1A (Class A2)
	2,650,891	g,i	Starwood Waypoint Homes	LIBOR 1 M + 0.950%		1.102		01/17/35		2,648
			Series - 2017 1 (Class A)
	180,592	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		1.048		09/25/34		175
			Series - 2004 8 (Class M1)
	930,137	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		1.148		09/25/34		920
			Series - 2004 8 (Class A9)
	9,000,000		Synchrony Credit Card Master Note Trust			2.620		10/15/25		9,364
			Series - 2017 2 (Class A)
	1,838,250	g	Taco Bell Funding LLC			4.970		05/25/46		1,980
			Series - 2016 1A (Class A23)
	16,800,750	g	Taco Bell Funding LLC			4.318		11/25/48		17,155
			Series - 2018 1A (Class A2I)
	10,500,000	g	Tesla Auto Lease Trust			2.160		10/20/22		10,761
			Series - 2019 A (Class A3)
	7,800,000	g	Tesla Auto Lease Trust			0.680		12/20/23		7,836
			Series - 2020 A (Class A3)
	2,300,000	g	Tesla Auto Lease Trust			0.780		12/20/23		2,314
			Series - 2020 A (Class A4)
	2,995,700	g	TLF National Tax Lien Trust			3.090		12/15/29		3,015
			Series - 2017 1A (Class A)
	5,675,000		Toyota Auto Receivables Owner Trust			1.910		09/15/23		5,781
			Series - 2019 C (Class A3)
	16,800,000		Toyota Auto Receivables Owner Trust			1.660		05/15/24		17,165
			Series - 2020 A (Class A3)
	7,580,000	g	Tricon American Homes Trust			4.878		11/17/33		7,572
			Series - 2016 SFR1 (Class E)
	946,674	g	Tricon American Homes Trust			2.716		09/17/34		963
			Series - 2017 SFR1 (Class A)
	4,400,000	g	Tricon American Homes Trust			4.011		09/17/34		4,460
			Series - 2017 SFR1 (Class E)
	3,917,392	g	Tricon American Homes Trust			2.928		01/17/36		4,056
			Series - 2017 SFR2 (Class A)
	1,050,000	g	Tricon American Homes Trust			3.275		01/17/36		1,086
			Series - 2017 SFR2 (Class B)
	45,800,000		Verizon Owner Trust			1.850		07/22/24		46,970
			Series - 2020 A (Class A1A)
	4,234,971	g	VOLT LXXV LLC (Step Bond)			3.967		02/25/49		4,238
			Series - 2019 NPL2 (Class A1)
	1,642,000	g	VOLT LXXV LLC (Step Bond)			3.967		10/25/49		1,626
			Series - 2019 NPL7 (Class A1B)
	6,600,000	g	VOLT LXXXIV LLC (Step Bond)			3.967		12/27/49		6,517
			Series - 2019 NP10 (Class A1B)
	31,606,250	g	Wendys Funding LLC			3.573		03/15/48		32,668
			Series - 2018 1A (Class A2I)

358

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	15,800,000		World Omni Auto Receivables Trust			1.700	%	01/17/23	$	16,123
			Series - 2020 A (Class A3)
			TOTAL ASSET BACKED							1,123,238
OTHER MORTGAGE BACKED - 9.2%
	3,000,000	g,i	20 Times Square Trust			3.203		05/15/35		2,976
			Series - 2018 20TS (Class B)
	12,000,000	g,i	20 TSQ GROUNDCO LLC			3.203		05/15/35		11,180
			Series - 2018 20TS (Class E)
	1,590,249	g,i	Agate Bay Mortgage Trust			3.500		11/25/44		1,647
			Series - 2014 3 (Class A13)
	5,465,184	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		5,669
			Series - 2015 6 (Class A9)
	1,015,895	i	Alternative Loan Trust	LIBOR 1 M + 0.500%		0.648		06/25/34		1,007
			Series - 2004 8CB (Class M1)
	1,240,000	i	Ameriquest Mortgage Securities	LIBOR 1 M + 1.020%		1.168		10/25/34		1,227
			Series - 2004 R9 (Class M3)
	2,500,000	i	BANK			4.207		11/15/50		2,518
			Series - 2017 BNK8 (Class C)
	4,000,000		BANK			3.203		12/15/52		4,431
			Series - 2019 BN23 (Class AS)
	2,000,000		BANK			2.758		09/15/62		2,197
			Series - 2019 BN20 (Class A2)
	8,000,000		BANK			3.283		11/15/62		8,885
			Series - 2019 BN24 (Class AS)
	3,850,000	g	BBCMS Mortgage Trust			3.821		09/05/32		3,776
			Series - 2013 TYSN (Class C)
	1,500,000	g,i	BBCMS Mortgage Trust			4.409		08/05/38		1,027
			Series - 2018 CHRS (Class E)
	5,000,000		BBCMS Mortgage Trust			3.488		02/15/50		5,485
			Series - 2017 C1 (Class ASB)
	861,118	i	Bear Stearns Commercial Mortgage Securities Trust			5.117		02/11/41		855
			Series - 2005 PWR7 (Class B)
	2,000,000	g,i	Benchmark Mortgage Trust			2.791		09/15/48		2,136
			Series - 2020 IG2 (Class AM)
	2,500,000	g,i	Benchmark Mortgage Trust			3.229		09/15/48		2,737
			Series - 2020 IG3 (Class AS)
	2,500,000	g,i	Benchmark Mortgage Trust			3.654		09/15/48		2,626
			Series - 2020 IG3 (Class BXA)
	1,000,000	i	Benchmark Mortgage Trust			3.882		02/15/51		1,166
			Series - 2018 B2 (Class A5)
	1,445,000		Benchmark Mortgage Trust			4.232		01/15/52		1,735
			Series - 2018 B8 (Class A5)
	1,500,000		Benchmark Mortgage Trust			3.419		08/15/52		1,678
			Series - 2019 B12 (Class AS)
	830,000		Benchmark Mortgage Trust			4.241		05/15/53		977
			Series - 2018 B7 (Class A3)
	5,921,744	i	Benchmark Mortgage Trust			4.510		05/15/53		7,228
			Series - 2018 B7 (Class A4)
	2,500,000		Benchmark Mortgage Trust			3.231		12/15/72		2,764
			Series - 2019 B15 (Class AS)
	2,500,000	g	BWAY Mortgage Trust			3.342		01/10/35		2,442
			Series - 2015 1740 (Class C)

359

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	1,898,596	g,i	BX Commercial Mortgage Trust	LIBOR 1 M + 0.920%		1.072	%	10/15/36	$	1,898
			Series - 2019 XL (Class A)
	7,698,000	i	CCUBS Commercial Mortgage Trust			3.462		11/15/50		8,542
			Series - 2017 C1 (Class ASB)
	5,167,000		CD Mortgage Trust			2.622		08/10/49		5,459
			Series - 2016 CD1 (Class ASB)
	9,000,000		CD Mortgage Trust			2.926		08/10/49		9,447
			Series - 2016 CD1 (Class AM)
	5,750,000	i	CD Mortgage Trust			3.879		11/10/49		6,238
			Series - 2016 CD2 (Class B)
	1,000,000	i	CD Mortgage Trust			4.158		11/10/49		972
			Series - 2016 CD2 (Class C)
	1,000,000		CD Mortgage Trust			3.453		02/10/50		1,089
			Series - 2017 CD3 (Class AAB)
	500,000	i	CD Mortgage Trust			4.711		02/10/50		499
			Series - 2017 CD3 (Class C)
	5,000,000		CD Mortgage Trust			3.220		08/15/50		5,462
			Series - 2017 CD5 (Class AAB)
	3,457,000		CD Mortgage Trust			2.812		08/15/57		3,822
			Series - 2019 CD8 (Class ASB)
	1,000,000	g,i	CFCRE Commercial Mortgage Trust			6.292		04/15/44		1,015
			Series - 2011 C1 (Class C)
	937,145		CFCRE Commercial Mortgage Trust			3.121		05/10/58		990
			Series - 2016 C4 (Class AHR)
	1,530,382	i	CHL Mortgage Pass-Through Trust			3.597		02/20/35		1,521
			Series - 2004 HYB9 (Class 1A1)
	2,500,000	g,i	Citigroup Commercial Mortgage Trust			3.635		05/10/35		2,566
			Series - 2013 375P (Class B)
	5,750,000	g	Citigroup Commercial Mortgage Trust			3.341		05/10/36		6,118
			Series - 2019 PRM (Class A)
	917,000	i	Citigroup Commercial Mortgage Trust			3.732		04/10/46		956
			Series - 2013 GC11 (Class B)
	2,400,000		Citigroup Commercial Mortgage Trust			4.023		03/10/47		2,610
			Series - 2014 GC19 (Class A4)
	3,377,522		Citigroup Commercial Mortgage Trust			3.371		10/10/47		3,536
			Series - 2014 GC25 (Class AAB)
	1,700,000	i	Citigroup Commercial Mortgage Trust			3.758		04/10/48		1,793
			Series - 2015 GC29 (Class B)
	3,000,000	i	Citigroup Commercial Mortgage Trust			4.296		04/10/48		2,964
			Series - 2015 GC29 (Class C)
	540,263		Citigroup Commercial Mortgage Trust			1.506		05/10/49		541
			Series - 2016 C1 (Class A1)
	5,300,000		Citigroup Commercial Mortgage Trust			3.243		08/15/50		5,799
			Series - 2017 B1 (Class AAB)
	6,765,000		Citigroup Commercial Mortgage Trust			3.764		10/12/50		7,619
			Series - 2017 C4 (Class AS)
	2,000,000		Citigroup Commercial Mortgage Trust			3.778		09/10/58		2,238
			Series - 2015 GC33 (Class A4)
	2,247,000	g	COMM Mortgage Trust			3.086		08/10/29		2,257
			Series - 2016 GCT (Class B)
	5,000,000	g	COMM Mortgage Trust			3.244		10/10/29		5,280
			Series - 2017 PANW (Class A)
	2,000,000	i	COMM Mortgage Trust			4.362		07/10/45		2,144
			Series - 2013 CR9 (Class A4)

360

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,727,236		COMM Mortgage Trust		2.853	%	10/15/45	$	3,839
			Series - 2012 CR4 (Class A3)
	1,140,000	g	COMM Mortgage Trust		3.147		03/10/46		1,180
			Series - 2013 CR6 (Class AM)
	3,359,721	g,i	COMM Mortgage Trust		4.083		06/10/46		3,498
			Series - 2013 CR8 (Class B)
	2,000,000	g,i	COMM Mortgage Trust		4.949		08/10/46		2,120
			Series - 2013 CR10 (Class B)
	4,780,000	g,i	COMM Mortgage Trust		4.949		08/10/46		4,781
			Series - 2013 CR10 (Class C)
	500,000	g,i	COMM Mortgage Trust		5.463		08/10/46		409
			Series - 2013 LC13 (Class D)
	3,000,000		COMM Mortgage Trust		4.199		03/10/47		3,264
			Series - 2014 UBS2 (Class AM)
	750,000		COMM Mortgage Trust		4.174		05/10/47		816
			Series - 2014 CR17 (Class AM)
	1,843,000	i	COMM Mortgage Trust		4.882		07/15/47		1,789
			Series - 2014 CR18 (Class C)
	1,500,000	i	COMM Mortgage Trust		4.868		08/10/47		1,537
			Series - 2014 CR19 (Class C)
	9,131,817		COMM Mortgage Trust		3.917		10/10/47		10,015
			Series - 2014 LC17 (Class A5)
	5,000,000	i	COMM Mortgage Trust		4.188		10/10/47		5,489
			Series - 2014 LC17 (Class AM)
	1,300,000	i	COMM Mortgage Trust		4.490		10/10/47		1,382
			Series - 2014 LC17 (Class B)
	800,979	i	COMM Mortgage Trust		3.829		02/10/48		859
			Series - 2015 LC19 (Class B)
	1,000,000	g	COMM Mortgage Trust		3.000		03/10/48		645
			Series - 2015 CR22 (Class E)
	1,445,000		COMM Mortgage Trust		3.309		03/10/48		1,576
			Series - 2015 CR22 (Class A5)
	3,382,775	i	COMM Mortgage Trust		3.603		03/10/48		3,681
			Series - 2015 CR22 (Class AM)
	1,805,000	i	COMM Mortgage Trust		4.244		03/10/48		1,830
			Series - 2015 CR22 (Class C)
	7,150,000		COMM Mortgage Trust		3.801		05/10/48		7,858
			Series - 2015 CR23 (Class AM)
	4,000,000	i	COMM Mortgage Trust		4.183		05/10/48		4,327
			Series - 2015 CR23 (Class B)
	2,549,000	i	COMM Mortgage Trust		4.435		05/10/48		2,566
			Series - 2015 CR23 (Class C)
	4,659,779		COMM Mortgage Trust		3.421		07/10/48		4,918
			Series - 2015 LC21 (Class ASB)
	1,500,000	i	COMM Mortgage Trust		3.463		08/10/48		1,254
			Series - 2015 CR24 (Class D)
	2,550,000		COMM Mortgage Trust		3.696		08/10/48		2,853
			Series - 2015 CR24 (Class A5)
	5,000,000	i	COMM Mortgage Trust		4.028		08/10/48		5,529
			Series - 2015 CR24 (Class AM)
	1,467,000	i	COMM Mortgage Trust		4.524		08/10/48		1,468
			Series - 2015 CR24 (Class C)
	3,185,000	i	COMM Mortgage Trust		4.524		08/10/48		3,435
			Series - 2015 CR24 (Class B)

361

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	1,352,000		COMM Mortgage Trust			3.612	%	10/10/48	$	1,506
			Series - 2015 CR27 (Class A4)
	3,212,210		COMM Mortgage Trust			3.630		10/10/48		3,587
			Series - 2015 CR26 (Class A4)
	1,575,000		COMM Mortgage Trust			3.774		10/10/48		1,768
			Series - 2015 LC23 (Class A4)
	6,962,000	i	COMM Mortgage Trust			4.491		10/10/48		7,610
			Series - 2015 CR27 (Class B)
	1,375,000	i	COMM Mortgage Trust			4.630		10/10/48		1,485
			Series - 2015 CR26 (Class B)
	1,049,603		COMM Mortgage Trust			3.651		02/10/49		1,122
			Series - 2016 CR28 (Class AHR)
	4,650,000	i	COMM Mortgage Trust			4.794		02/10/49		5,029
			Series - 2016 CR28 (Class B)
	1,500,000	i	COMM Mortgage Trust			5.278		08/10/50		1,588
			Series - 2013 CR11 (Class B)
	6,500,000		COMM Mortgage Trust			3.263		08/15/57		7,233
			Series - 2019 GC44 (Class AM)
	20,537,991	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		2.748		05/25/24		17,977
			Series - 2014 C02 (Class 1M2)
	756,837	i	Connecticut Avenue Securities	LIBOR 1 M + 2.900%		3.048		07/25/24		744
			Series - 2014 C03 (Class 2M2)
	12,167,710	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.148		07/25/24		10,632
			Series - 2014 C03 (Class 1M2)
	1,711,999	i	Connecticut Avenue Securities	LIBOR 1 M + 5.000%		5.148		11/25/24		1,750
			Series - 2014 C04 (Class 2M2)
	807,971	i	Connecticut Avenue Securities	LIBOR 1 M + 5.550%		5.698		04/25/28		829
			Series - 2015 C04 (Class 2M2)
	1,341,047	i	Connecticut Avenue Securities	LIBOR 1 M + 5.700%		5.848		04/25/28		1,388
			Series - 2015 C04 (Class 1M2)
	4,160,411	i	Connecticut Avenue Securities	LIBOR 1 M + 6.750%		6.898		08/25/28		4,317
			Series - 2016 C01 (Class 1M2)
	4,147,802	i	Connecticut Avenue Securities	LIBOR 1 M + 6.000%		6.148		09/25/28		4,389
			Series - 2016 C02 (Class 1M2)
	2,716,962	i	Connecticut Avenue Securities	LIBOR 1 M + 5.900%		6.048		10/25/28		2,870
			Series - 2016 C03 (Class 2M2)
	2,932,089	i	Connecticut Avenue Securities	LIBOR 1 M + 4.450%		4.598		01/25/29		3,025
			Series - 2016 C05 (Class 2M2)
	2,255,147	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%		4.398		04/25/29		2,306
			Series - 2016 C06 (Class 1M2)
	3,054,069	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		0.998		09/25/29		2,809
			Series - 2017 C02 (Class 2ED4)
	1,494,175	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		2.348		01/25/30		1,502
			Series - 2017 C05 (Class 1M2A)
	6,857,490	i	Connecticut Avenue Securities	LIBOR 1 M + 0.450%		0.598		07/25/30		6,770
			Series - 2018 C01 (Class 1EB1)
	2,607,113	i	Connecticut Avenue Securities	LIBOR 1 M + 2.250%		2.398		07/25/30		2,573
			Series - 2018 C01 (Class 1M2)
	2,607,503	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		0.998		10/25/30		2,592
			Series - 2018 C03 (Class 1EA2)
	1,948,504	i	Connecticut Avenue Securities	LIBOR 1 M + 2.550%		2.698		12/25/30		1,914
			Series - 2018 C04 (Class 2M2)
	630,091	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.450%		2.598		07/25/31		626
			Series - 2019 R01 (Class 2M2)

362

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	723,147	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.100%		2.248	%	09/25/39	$	717
			Series - 2019 R06 (Class 2M2)
	792,609	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.750%		0.898		01/25/40		791
			Series - 2020 R02 (Class 2M1)
	4,510,798	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.800%		0.948		01/25/40		4,492
			Series - 2020 R01 (Class 1M1)
	1,240,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.000%		2.148		01/25/40		1,208
			Series - 2020 R02 (Class 2M2)
	3,750,000	g	CPT Mortgage Trust			2.865		11/13/39		4,082
			Series - 2019 CPT (Class A)
	2,000,000	g,i	CPT Mortgage Trust			3.097		11/13/39		1,884
			Series - 2019 CPT (Class E)
	7,400,000	g,i	Credit Suisse Commercial Mortgage Trust			3.854		11/10/32		7,903
			Series - 2017 CALI (Class B)
	2,773,000	g,i	Credit Suisse Commercial Mortgage Trust	LIBOR 1 M + 0.650%		0.798		05/25/36		2,767
			Series - 2006 CF2 (Class M3)
	12,322,801	g,i	Credit Suisse Commercial Mortgage Trust			3.500		02/25/48		12,788
			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)
	1,910,000	g,i	Credit Suisse Mortgage Capital Certificates	LIBOR 1 M + 1.600%		1.752		05/15/36		1,891
			Series - 2019 ICE4 (Class D)
	4,171,000		CSAIL Commercial Mortgage Trust			3.314		11/15/49		4,441
			Series - 2016 C7 (Class ASB)
	9,250,000		DBGS Mortgage Trust			4.466		10/15/51		11,149
			Series - 2018 C1 (Class A4)
	11,000,000		DBJPM Mortgage Trust			2.756		08/10/49		11,637
			Series - 2016 C3 (Class ASB)
	10,000,000		DBJPM Mortgage Trust			3.121		06/10/50		10,803
			Series - 2017 C6 (Class ASB)
	5,300,000		DBJPMortgage Trust			2.340		09/15/53		5,508
			Series - 2020 C9 (Class AM)
	17,410,000	g	DBUBS Mortgage Trust			3.452		10/10/34		18,663
			Series - 2017 BRBK (Class A)
	15,500,000	g,i	DBUBS Mortgage Trust			3.648		10/10/34		16,446
			Series - 2017 BRBK (Class B)
	3,100,991	g	DBUBS Mortgage Trust			4.452		05/10/44		3,081
			Series - 2011 LC3A (Class PM1)
	21,795,220	g	DBUBS Mortgage Trust			4.537		07/10/44		22,051
			Series - 2011 LC2A (Class A4)
	3,100,000	g,i	DBUBS Mortgage Trust			4.998		07/10/44		3,144
			Series - 2011 LC2A (Class B)
	5,000,000	g,i	DBUBS Mortgage Trust			5.670		07/10/44		5,026
			Series - 2011 LC2A (Class C)
	5,500,000	g,i	DBUBS Mortgage Trust			5.513		08/10/44		5,603
			Series - 2011 LC3A (Class AM)
	2,084,000	g,i	DBUBS Mortgage Trust			5.513		08/10/44		2,113
			Series - 2011 LC3A (Class B)
	4,840,000	g,i	DBUBS Mortgage Trust			5.790		11/10/46		4,849
			Series - 2011 LC1A (Class C)
	2,051,000	g,i	Ellington Financial Mortgage Trust			3.587		06/25/59		2,049
			Series - 2019 1 (Class M1)
	2,242,151	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		0.883		12/25/35		2,228
			Series - 2005 2 (Class M2)

363

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	1,661,394	g,i	FirstKey Mortgage Trust			3.500	%	11/25/44	$	1,714
			Series - 2014 1 (Class A8)
	3,276,541	g,i	Flagstar Mortgage Trust			3.500		03/25/47		3,315
			Series - 2017 1 (Class 1A5)
	2,572,832	g,i	Flagstar Mortgage Trust			4.102		10/25/47		2,681
			Series - 2017 2 (Class B3)
	1,396,741	g,i	Flagstar Mortgage Trust			4.000		09/25/48		1,431
			Series - 2018 5 (Class A11)
	10,000,000	g	GRACE Mortgage Trust			3.369		06/10/28		10,061
			Series - 2014 GRCE (Class A)
	8,970,000	g	GRACE Mortgage Trust			3.520		06/10/28		9,010
			Series - 2014 GRCE (Class B)
	5,943,000	g	GS Mortgage Securities Corp II			3.551		04/10/34		5,991
			Series - 2012 ALOH (Class A)
	4,430,000	g	GS Mortgage Securities Corp II			2.954		11/05/34		4,415
			Series - 2012 BWTR (Class A)
	350,000	i	GS Mortgage Securities Corp II			3.777		05/10/50		382
			Series - 2015 GC30 (Class AS)
	6,850,000	i	GS Mortgage Securities Corp II			3.992		03/10/51		7,987
			Series - 2018 GS9 (Class A4)
	3,500,000	i	GS Mortgage Securities Corp II			4.155		07/10/51		4,113
			Series - 2018 GS10 (Class A5)
	2,000,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.450%		1.602		07/15/31		1,891
			Series - 2018 TWR (Class C)
	1,328,542		GS Mortgage Securities Trust			3.206		02/10/48		1,392
			Series - 2015 GC28 (Class AAB)
	2,816,500		GS Mortgage Securities Trust			3.396		02/10/48		3,083
			Series - 2015 GC28 (Class A5)
	2,000,000	i	GS Mortgage Securities Trust			4.018		07/10/48		2,215
			Series - 2015 GC32 (Class AS)
	3,360,000		GS Mortgage Securities Trust			3.278		10/10/48		3,537
			Series - 2015 GC34 (Class AAB)
	2,250,000		GS Mortgage Securities Trust			2.635		05/10/49		2,261
			Series - 2016 GS2 (Class A2)
	2,000,000		GS Mortgage Securities Trust			3.143		10/10/49		2,158
			Series - 2016 GS3 (Class AS)
	2,000,000		GS Mortgage Securities Trust			3.674		03/10/50		2,281
			Series - 2017 GS5 (Class A4)
	4,150,000	i	GS Mortgage Securities Trust			3.826		03/10/50		4,660
			Series - 2017 GS5 (Class AS)
	1,750,000	i	GS Mortgage Securities Trust			4.047		03/10/50		1,934
			Series - 2017 GS5 (Class B)
	12,000,000		GS Mortgage Securities Trust			3.230		05/10/50		13,032
			Series - 2017 GS6 (Class AAB)
	6,000,000		GS Mortgage Securities Trust			3.433		05/10/50		6,768
			Series - 2017 GS6 (Class A3)
	3,000,000	i	GS Mortgage Securities Trust			4.213		05/10/50		2,833
			Series - 2015 GC30 (Class C)
	3,000,000		GS Mortgage Securities Trust			3.837		11/10/50		3,429
			Series - 2017 GS8 (Class ABP)
	1,374,000	i	GS Mortgage Securities Trust			4.481		11/10/50		1,378
			Series - 2017 GS8 (Class C)
	3,000,000	g,i	GS Mortgage Securities Trust			3.668		07/10/52		3,062
			Series - 2019 GC40 (Class DBC)

364

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	2,500,000	i	GS Mortgage Securities Trust			3.173	%	02/13/53	$	2,787
			Series - 2020 GC45 (Class AS)
	1,631,313	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		1,678
			Series - 2019 PJ2 (Class A1)
	4,261,312	g,i	GS Mortgage-Backed Securities Corp Trust			4.000		11/25/49		4,367
			Series - 2019 PJ2 (Class A4)
	747,815	g,i	GS Mortgage-Backed Securities Corp Trust			3.500		07/25/50		759
			Series - 2020 PJ2 (Class A4)
	3,052,107	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		0.776		08/19/45		2,940
			Series - 2005 11 (Class 2A1A)
	6,000,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		6,442
			Series - 2016 10HY (Class A)
	2,500,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		2,645
			Series - 2016 10HY (Class B)
	7,250,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		7,550
			Series - 2016 10HY (Class C)
	5,500,000	g,i	Hudson Yards Mortgage Trust			3.041		12/10/41		5,440
			Series - 2019 55HY (Class D)
	2,750,000	g,i	Hudson Yards Mortgage Trust			3.041		12/10/41		2,568
			Series - 2019 55HY (Class E)
	487,897	i	Impac CMB Trust			0.808		03/25/35		476
			Series - 2004 11 (Class 2A1)
	12,474,670	g	JP Morgan Chase Commercial Mortgage Securities Corp			4.717		02/15/46		12,514
			Series - 2011 C3 (Class A4)
	10,975,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			5.360		02/15/46		9,343
			Series - 2011 C3 (Class C)
	4,941,962	g	JP Morgan Chase Commercial Mortgage Securities Corp			4.388		07/15/46		4,996
			Series - 2011 C4 (Class A4)
	15,000,000	g	JP Morgan Chase Commercial Mortgage Securities Corp			4.801		07/15/46		15,178
			Series - 2011 C4 (Class B)
	6,455,000	g,i	JP Morgan Chase Commercial Mortgage Securities Corp			5.525		07/15/46		6,503
			Series - 2011 C4 (Class C)
	2,800,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.372		12/15/47		2,922
			Series - 2013 C10 (Class AS)
	1,430,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.914		01/15/49		1,621
			Series - 2015 JP1 (Class A5)
	750,000	i	JP Morgan Chase Commercial Mortgage Securities Corp			4.119		01/15/49		840
			Series - 2015 JP1 (Class AS)
	7,000,000		JP Morgan Chase Commercial Mortgage Securities Corp			2.713		08/15/49		7,357
			Series - 2016 JP2 (Class ASB)
	4,500,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.379		09/15/50		4,787
			Series - 2017 JP7 (Class A3)
	4,550,501	g,i	JP Morgan Mortgage Trust			2.140		12/25/44		4,624
			Series - 2015 1 (Class B1)

365

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	879,858	g,i	JP Morgan Mortgage Trust			3.500	%	05/25/45	$	906
			Series - 2015 3 (Class A19)
	6,716,144	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		6,959
			Series - 2015 6 (Class A13)
	1,715,222	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		1,759
			Series - 2016 1 (Class A13)
	300,160	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		302
			Series - 2016 1 (Class A5)
	279,143	g,i	JP Morgan Mortgage Trust			3.500		01/25/47		287
			Series - 2017 1 (Class A3)
	5,049,599	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		5,116
			Series - 2017 2 (Class A5)
	4,120,917	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		4,220
			Series - 2017 2 (Class A13)
	279,829	g,i	JP Morgan Mortgage Trust			3.500		08/25/47		281
			Series - 2017 3 (Class 1A5)
	1,943,254	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		2,021
			Series - 2018 3 (Class A13)
	1,364,502	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		1,388
			Series - 2018 4 (Class A5)
	655,369	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		685
			Series - 2018 4 (Class A13)
	2,549,900	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		2,666
			Series - 2018 5 (Class A13)
	206,613	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		207
			Series - 2018 8 (Class A5)
	1,592,690	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		1,633
			Series - 2018 8 (Class A13)
	4,644,595	g,i	JP Morgan Mortgage Trust			4.000		02/25/49		4,761
			Series - 2018 9 (Class A13)
	2,561,903	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		2,638
			Series - 2019 1 (Class A3)
	4,294,908	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		4,406
			Series - 2019 1 (Class A15)
	348,389	g,i	JP Morgan Mortgage Trust			4.000		08/25/49		348
			Series - 2019 2 (Class A4)
	1,547,141	g,i	JP Morgan Mortgage Trust			4.781		09/25/49		1,650
			Series - 2019 3 (Class B1)
	7,430,330	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.098		10/25/49		7,421
			Series - 2019 INV1 (Class A11)
	18,557	g,i	JP Morgan Mortgage Trust			4.000		11/25/49		19
			Series - 2019 5 (Class A4)
	7,056,373	g,i	JP Morgan Mortgage Trust			3.877		06/25/50		7,432
			Series - 2020 1 (Class B2)
	1,000,000	i	JPMBB Commercial Mortgage Securities Trust			4.133		08/15/46		1,080
			Series - 2013 C14 (Class A4)
	1,350,000		JPMBB Commercial Mortgage Securities Trust			3.775		08/15/47		1,479
			Series - 2014 C21 (Class A5)
	5,000,000		JPMBB Commercial Mortgage Securities Trust			3.997		08/15/47		5,453
			Series - 2014 C21 (Class AS)
	2,000,000	i	JPMBB Commercial Mortgage Securities Trust			4.621		09/15/47		2,125
			Series - 2014 C23 (Class B)
	3,000,000		JPMBB Commercial Mortgage Securities Trust			3.898		02/15/48		3,175
			Series - 2015 C27 (Class B)

366

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	2,556,000		JPMBB Commercial Mortgage Securities Trust			3.611	%	05/15/48	$	2,825
			Series - 2015 C29 (Class A4)
	2,500,000	i	JPMBB Commercial Mortgage Securities Trust			3.917		05/15/48		2,750
			Series - 2015 C29 (Class AS)
	1,600,000	i	JPMBB Commercial Mortgage Securities Trust			4.118		05/15/48		1,662
			Series - 2015 C29 (Class B)
	3,500,000		JPMBB Commercial Mortgage Securities Trust			4.106		08/15/48		3,887
			Series - 2015 C31 (Class AS)
	3,253,000	i	JPMBB Commercial Mortgage Securities Trust			4.773		08/15/48		3,130
			Series - 2015 C31 (Class C)
	9,125,000	i	JPMBB Commercial Mortgage Securities Trust			4.773		08/15/48		10,033
			Series - 2015 C31 (Class B)
	4,610,000		JPMBB Commercial Mortgage Securities Trust			3.576		03/15/49		5,161
			Series - 2016 C1 (Class A5)
	4,750,000		JPMCC Commercial Mortgage Securities Trust			3.457		03/15/50		5,332
			Series - 2017 JP5 (Class A4)
	1,220,000		JPMCC Commercial Mortgage Securities Trust			3.549		03/15/50		1,336
			Series - 2017 JP5 (Class ASB)
	3,000,000		JPMDB Commercial Mortgage Securities Trust			3.694		03/15/50		3,422
			Series - 2017 C5 (Class A5)
	9,000,000		JPMDB Commercial Mortgage Securities Trust			2.536		05/13/53		9,535
			Series - 2020 COR7 (Class AS)
	3,713,025	g	Ladder Capital Commercial Mortgage Securities			3.575		02/15/36		3,944
			Series - 2013 GCP (Class A1)
	5,000,000	g	Ladder Capital Commercial Mortgage Securities			3.357		07/12/50		5,488
			Series - 2017 LC26 (Class ASB)
	7,250,000	g	Liberty Street Trust			3.597		02/10/36		7,960
			Series - 2016 225L (Class A)
	4,000,000	g,i	MAD Mortgage Trust			3.294		08/15/34		4,153
			Series - 2017 330M (Class A)
	1,500,000	g,i	Manhattan West			2.413		09/10/39		1,536
			Series - 2020 1MW (Class B)
	3,000,000	g,i	Manhattan West			2.413		09/10/39		2,991
			Series - 2020 1MW (Class C)
	906,859	i	Merrill Lynch Mortgage Investors Trust	LIBOR 1 M + 0.260%		2.278		01/25/37		860
			Series - 2006 WMC1 (Class A1B)
	1,515,344		Morgan Stanley Bank of America Merrill Lynch Trust			2.469		02/15/46		1,543
			Series - 2013 C7 (Class AAB)
	2,873,693	g	Morgan Stanley Bank of America Merrill Lynch Trust			3.989		12/15/46		2,984
			Series - 2014 C19 (Class LNC1)
	2,367,127	g	Morgan Stanley Bank of America Merrill Lynch Trust			4.384		12/15/46		2,423
			Series - 2014 C19 (Class LNC2)
	849,811		Morgan Stanley Bank of America Merrill Lynch Trust			3.669		02/15/47		852
			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		5,054
			Series - 2014 C19 (Class AS)

367

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	1,600,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.605	%	02/15/48	$	1,729
			Series - 2015 C20 (Class AS)
	2,500,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.338		03/15/48		2,726
			Series - 2015 C21 (Class A4)
	5,500,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.652		03/15/48		5,987
			Series - 2015 C21 (Class AS)
	2,925,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.306		04/15/48		3,175
			Series - 2015 C22 (Class A4)
	3,000,000		Morgan Stanley Bank of America Merrill Lynch Trust			3.561		04/15/48		3,242
			Series - 2015 C22 (Class AS)
	897,837	i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.825%		0.973		08/25/34		892
			Series - 2004 HE6 (Class M1)
	3,548,000	g	Morgan Stanley Capital I Trust			4.193		09/15/47		3,372
			Series - 2011 C1 (Class F)
	7,075,000	g,i	Morgan Stanley Capital I Trust			5.675		09/15/47		7,095
			Series - 2011 C1 (Class D)
	2,795,000	i	Morgan Stanley Capital I Trust			3.779		05/15/48		3,102
			Series - 2015 MS1 (Class A4)
	625,490	†,i	Morgan Stanley Capital I Trust			6.467		12/12/49		373
			Series - 2007 IQ16 (Class AJ)
	426,665	†,i	Morgan Stanley Capital I Trust			6.467		12/12/49		254
			Series - 2007 IQ16 (Class AJFX)
	6,000,000		Morgan Stanley Capital I Trust			3.304		06/15/50		6,512
			Series - 2017 H1 (Class ASB)
	1,458,000		Morgan Stanley Capital I Trust			3.587		12/15/50		1,652
			Series - 2017 HR2 (Class A4)
	5,250,000		Morgan Stanley Capital I Trust			4.177		07/15/51		6,232
			Series - 2018 H3 (Class A5)
	3,000,000	g,i	MSDB Trust			3.427		07/11/39		3,212
			Series - 2017 712F (Class A)
	1,200,000	g,i	Natixis Commercial Mortgage Securities Trust			3.917		11/15/32		1,239
			Series - 2018 285M (Class A)
	4,000,000	g,i	Natixis Commercial Mortgage Securities Trust			3.917		11/15/32		4,046
			Series - 2018 285M (Class C)
	15,010,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.652		07/15/36		14,860
			Series - 2019 MILE (Class A)
	5,000,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.800%		1.952		07/15/36		4,851
			Series - 2019 MILE (Class B)
	5,000,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 2.750%		2.902		07/15/36		4,767
			Series - 2019 MILE (Class D)
	5,000,000	g	Natixis Commercial Mortgage Securities Trust			2.507		10/15/36		5,087
			Series - 2019 1776 (Class A)
	2,000,000	g	Natixis Commercial Mortgage Securities Trust			2.966		12/15/38		2,086
			Series - 2020 2PAC (Class A)
	485,790	g,i	New Residential Mortgage Loan Trust			3.750		05/28/52		520
			Series - 2015 1A (Class A3)
	115,672	g,i	New Residential Mortgage Loan Trust			4.000		08/27/57		125
			Series - 2017 6A (Class A1)

368

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	756,775	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		0.628	%	02/25/36	$	738
			Series - 2005 3 (Class A1)
	1,990,913	g,i	OBX Trust	LIBOR 1 M + 0.650%		0.798		06/25/57		1,988
			Series - 2018 1 (Class A2)
	1,988,752	g,i	OBX Trust	LIBOR 1 M + 0.750%		0.898		07/25/58		1,980
			Series - 2018 EXP2 (Class 2A1A)
	373,038	g	Prima Capital CRE Securitization Ltd			2.550		08/24/49		372
			Series - 2015 4A (Class MR-A)
	2,000,000	g	RBS Commercial Funding, Inc Trust			3.511		03/11/31		1,808
			Series - 2013 SMV (Class B)
	2,122,677	g,i	Sequoia Mortgage Trust			3.500		05/25/45		2,196
			Series - 2015 2 (Class A1)
	1,881,801	g,i	Sequoia Mortgage Trust			3.500		06/25/46		1,953
			Series - 2016 1 (Class A19)
	1,038,350	g,i	Sequoia Mortgage Trust			3.500		11/25/46		1,060
			Series - 2016 3 (Class A10)
	3,524,853	g,i	Sequoia Mortgage Trust			3.500		02/25/47		3,570
			Series - 2017 2 (Class A4)
	519,428	g,i	Sequoia Mortgage Trust			3.500		02/25/47		540
			Series - 2017 2 (Class A19)
	171,600	g,i	Sequoia Mortgage Trust			3.500		04/25/47		178
			Series - 2017 3 (Class A19)
	4,645,542	g,i	Sequoia Mortgage Trust			3.500		04/25/47		4,707
			Series - 2017 3 (Class A4)
	477,040	g,i	Sequoia Mortgage Trust			3.500		09/25/47		480
			Series - 2017 6 (Class A4)
	2,294,103	g,i	Sequoia Mortgage Trust			3.743		09/25/47		2,426
			Series - 2017 6 (Class B1)
	1,431,534	g,i	Sequoia Mortgage Trust			3.500		02/25/48		1,473
			Series - 2018 2 (Class A1)
	270,101	g,i	Sequoia Mortgage Trust			3.500		02/25/48		276
			Series - 2018 2 (Class A19)
	5,994,106	g,i	Sequoia Mortgage Trust			3.500		03/25/48		6,180
			Series - 2018 3 (Class A1)
	456,486	g,i	Sequoia Mortgage Trust			3.500		03/25/48		458
			Series - 2018 3 (Class A4)
	358,446	g,i	Sequoia Mortgage Trust			4.000		09/25/48		359
			Series - 2018 7 (Class A4)
	768,827	g,i	Sequoia Mortgage Trust			4.000		09/25/48		782
			Series - 2018 7 (Class A19)
	1,021,081	g,i	Sequoia Mortgage Trust			4.000		11/25/48		1,033
			Series - 2018 8 (Class A19)
	5,630,795	g,i	Sequoia Mortgage Trust			4.000		06/25/49		5,742
			Series - 2019 2 (Class A1)
	1,771,613	g,i	Sequoia Mortgage Trust			4.000		06/25/49		1,796
			Series - 2019 2 (Class A19)
	9,531,267	g,i	Sequoia Mortgage Trust			3.500		11/25/49		9,831
			Series - 2019 4 (Class A1)
	9,954,268	g,i	Sequoia Mortgage Trust			3.500		12/25/49		10,226
			Series - 2019 5 (Class A1)
	5,747,738	g,i	Sequoia Mortgage Trust			3.500		12/25/49		5,832
			Series - 2019 5 (Class A19)
	15,743,083	g,i	Sequoia Mortgage Trust			3.000		04/25/50		16,101
			Series - 2020 3 (Class A19)

369

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	1,226,731	g,i	Shellpoint Co-Originator Trust			3.500	%	11/25/46	$	1,244
			Series - 2016 1 (Class 1A10)
	1,767,051	g,i	Shellpoint Co-Originator Trust			3.500		04/25/47		1,825
			Series - 2017 1 (Class A19)
	473,046	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 4.150%		4.298		01/25/25		474
			Series - 2015 DN1 (Class M3)
	2,030,897	i	STACR	LIBOR 1 M + 1.950%		2.098		05/25/25		2,031
			Series - 2015 HQ2 (Class M2)
	4,506,017	i	STACR	LIBOR 1 M + 4.650%		4.798		10/25/28		4,681
			Series - 2016 DNA2 (Class M3)
	13,377,115	i	STACR	LIBOR 1 M + 3.250%		3.398		07/25/29		13,699
			Series - 2017 DNA1 (Class M2)
	1,749,658	i	STACR	LIBOR 1 M + 1.200%		1.348		10/25/29		1,750
			Series - 2017 DNA2 (Class M1)
	601,677	i	STACR	LIBOR 1 M + 1.800%		1.948		07/25/30		591
			Series - 2018 DNA1 (Class M2)
	329,828	g,i	STACR			3.721		02/25/48		332
			Series - 2018 SPI1 (Class M1)
	4,341,057	g,i	STACR			4.473		11/25/48		4,316
			Series - 2018 SPI4 (Class M2)
	3,104,736	g,i	STACR	LIBOR 1 M + 2.050%		2.198		11/25/49		3,064
			Series - 2019 HQA4 (Class M2)
	1,531,000	g,i	STACR	LIBOR 1 M + 1.700%		1.848		12/25/49		1,498
			Series - 2020 DNA1 (Class M2)
	3,400,000	g,i	STACR	LIBOR 1 M + 1.850%		1.998		02/25/50		3,310
			Series - 2020 DNA2 (Class M2)
	5,645,000	g,i	STACR	LIBOR 1 M + 3.100%		3.248		03/25/50		5,560
			Series - 2020 HQA2 (Class M2)
	708,381	g,i	STACR	LIBOR 1 M + 1.100%		1.248		07/27/50		708
			Series - 2020 HQA2 (Class M1)
	1,275,000	g	Tricon American Homes			2.049		07/17/38		1,298
			Series - 2020 SFR1 (Class B)
	12,548,000		UBS Commercial Mortgage Trust			3.256		06/15/50		13,599
			Series - 2017 C1 (Class ASB)
	2,000,000		UBS Commercial Mortgage Trust			3.366		10/15/50		2,197
			Series - 2017 C4 (Class ASB)
	4,000,000		UBS-Barclays Commercial Mortgage Trust			2.850		12/10/45		4,146
			Series - 2012 C4 (Class A5)
	4,585,000	g	VNDO Mortgage Trust			3.808		12/13/29		4,582
			Series - 2013 PENN (Class A)
	1,100,000	g,i	VNDO Mortgage Trust			4.079		12/13/29		1,095
			Series - 2013 PENN (Class C)
	1,373,937	g	VSE VOI Mortgage LLC			2.540		07/20/33		1,382
			Series - 2016 A (Class A)
	1,053,488	g	VSE VOI Mortgage LLC			2.740		07/20/33		1,041
			Series - 2016 A (Class B)
	3,951,234	g	VSE VOI Mortgage LLC			2.330		03/20/35		4,011
			Series - 2017 A (Class A)
	8,200,000		Wells Fargo Commercial Mortgage Trust			3.539		10/15/45		8,521
			Series - 2012 LC5 (Class AS)
	1,740,030		Wells Fargo Commercial Mortgage Trust			3.405		12/15/47		1,898
			Series - 2014 LC18 (Class A5)
	990,000		Wells Fargo Commercial Mortgage Trust			3.406		05/15/48		1,063
			Series - 2015 NXS1 (Class AS)

370

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,000,000	i	Wells Fargo Commercial Mortgage Trust		3.658	%	05/15/48	$	2,066
			Series - 2015 NXS1 (Class B)
	2,566,000		Wells Fargo Commercial Mortgage Trust		3.637		06/15/48		2,848
			Series - 2015 C29 (Class A4)
	10,000,000		Wells Fargo Commercial Mortgage Trust		2.788		07/15/48		10,547
			Series - 2016 C35 (Class ASB)
	228,569		Wells Fargo Commercial Mortgage Trust		1.321		08/15/49		229
			Series - 2016 BNK1 (Class A1)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.514		08/15/49		15,710
			Series - 2016 BNK1 (Class ASB)
	15,000,000		Wells Fargo Commercial Mortgage Trust		2.825		10/15/49		15,871
			Series - 2016 LC24 (Class ASB)
	10,070,059		Wells Fargo Commercial Mortgage Trust		2.749		03/15/50		10,241
			Series - 2017 RB1 (Class A2)
	7,500,000		Wells Fargo Commercial Mortgage Trust		3.446		03/15/50		8,221
			Series - 2017 RB1 (Class ASB)
	872,111		Wells Fargo Commercial Mortgage Trust		3.635		03/15/50		994
			Series - 2017 RB1 (Class A5)
	2,000,000		Wells Fargo Commercial Mortgage Trust		3.757		03/15/50		2,239
			Series - 2017 RB1 (Class AS)
	1,825,000		Wells Fargo Commercial Mortgage Trust		3.184		04/15/50		1,974
			Series - 2015 LC20 (Class A5)
	15,000,000		Wells Fargo Commercial Mortgage Trust		3.261		07/15/50		16,305
			Series - 2017 C38 (Class ASB)
	7,000,000		Wells Fargo Commercial Mortgage Trust		3.453		07/15/50		7,922
			Series - 2017 C38 (Class A5)
	10,000,000		Wells Fargo Commercial Mortgage Trust		3.212		09/15/50		10,906
			Series - 2017 C39 (Class ASB)
	4,710,000		Wells Fargo Commercial Mortgage Trust		4.302		01/15/52		5,600
			Series - 2018 C48 (Class A5)
	7,000,000	i	Wells Fargo Commercial Mortgage Trust		3.767		07/15/58		7,781
			Series - 2015 NXS2 (Class A5)
	1,000,000	i	Wells Fargo Commercial Mortgage Trust		4.437		07/15/58		1,070
			Series - 2015 NXS2 (Class B)
	3,800,000		Wells Fargo Commercial Mortgage Trust		3.560		01/15/59		4,217
			Series - 2016 C32 (Class A4)
	6,000,000		Wells Fargo Commercial Mortgage Trust		3.749		03/15/59		6,609
			Series - 2016 C33 (Class AS)
	650,000		Wells Fargo Commercial Mortgage Trust		2.933		11/15/59		691
			Series - 2016 C36 (Class ASB)
	2,687,845	g,i	Wells Fargo Mortgage Backed Securities Trust		4.000		04/25/49		2,724
			Series - 2019 2 (Class A17)
	12,787,571	g,i	Wells Fargo Mortgage Backed Securities Trust		3.500		09/25/49		13,165
			Series - 2019 4 (Class A1)
	2,030,000	g,i	WFRBS Commercial Mortgage Trust		5.392		02/15/44		2,024
			Series - 2011 C2 (Class C)
	30,000,000	g,i	WFRBS Commercial Mortgage Trust		4.902		06/15/44		30,393
			Series - 2011 C4 (Class A4)
	1,770,000		WFRBS Commercial Mortgage Trust		3.345		05/15/45		1,851
			Series - 2013 C13 (Class AS)
	4,090,000	i	WFRBS Commercial Mortgage Trust		4.079		03/15/46		4,441
			Series - 2013 UBS1 (Class A4)
	1,050,000	i	WFRBS Commercial Mortgage Trust		4.162		12/15/46		1,147
			Series - 2013 C18 (Class A5)

371

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,185,281		WFRBS Commercial Mortgage Trust		3.995	%	05/15/47	$	2,361
			Series - 2014 C20 (Class A5)
	3,865,000		WFRBS Commercial Mortgage Trust		3.607		11/15/47		4,220
			Series - 2014 C24 (Class A5)
	8,000,000		WFRBS Commercial Mortgage Trust		3.560		03/15/48		8,367
			Series - 2013 C12 (Class AS)
			TOTAL OTHER MORTGAGE BACKED						1,366,207
			TOTAL STRUCTURED ASSETS						2,489,445
			(Cost $2,444,970)
			TOTAL BONDS						14,175,646
			(Cost $13,376,305)
SHARES			COMPANY
COMMON STOCKS - 0.0%
TELECOMMUNICATION SERVICES - 0.0%
	147,623	*	Oi S.A. (ADR)						214
			TOTAL TELECOMMUNICATION SERVICES						214
			TOTAL COMMON STOCKS						214
			(Cost $1,332)
PREFERRED STOCKS - 0.1%
BANKS - 0.1%
	470,597	*	Federal Home Loan Mortgage Corp (FHLMC)						4,189
	1,527,061	*	Federal National Mortgage Association (FNMA)						13,560
			TOTAL BANKS						17,749
			TOTAL PREFERRED STOCKS						17,749
			(Cost $49,941)
PRINCIPAL			ISSUER
SHORT-TERM INVESTMENTS - 11.5%
GOVERNMENT AGENCY DEBT - 4.5%
$	10,007,000		Federal Agricultural Mortgage Corp (FAMC)		0.125		01/28/21		10,004
	20,000,000		Federal Farm Credit Bank (FFCB)		0.100-0.200		11/04/20		19,999
	10,000,000		FFCB		0.105		01/29/21		9,997
	9,200,000		Federal Home Loan Bank (FHLB)		0.180		10/01/20		9,200
	30,457,000		FHLB		0.080		10/09/20		30,457
	24,364,000		FHLB		0.090		10/16/20		24,363
	71,545,000		FHLB		0.090-0.110		10/20/20		71,543

372

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	54,475,000	FHLB		0.075-0.100	%	10/23/20	$	54,473
	50,000,000	FHLB		0.080-0.125		10/30/20		49,998
	14,050,000	FHLB		0.098		11/12/20		14,049
	50,000,000	FHLB		0.105		11/13/20		49,996
	29,475,000	FHLB		0.090		11/20/20		29,472
	52,465,000	FHLB		0.110		12/11/20		52,456
	25,000,000	FHLB		0.094		12/23/20		24,995
	27,826,000	FHLB		0.100		01/20/21		27,818
	44,350,000	FHLB		0.095		01/21/21		44,337
	25,000,000	FHLB		0.095		01/25/21		24,993
	20,000,000	FHLB		0.100		01/29/21		19,994
	5,000,000	FHLB		0.170		03/08/21		4,998
	29,790,000	FHLB		0.110-0.115		03/12/21		29,776
	28,470,000	FHLB		0.120		03/17/21		28,457
	14,000,000	FHLB		0.110		03/19/21		13,993
	4,792,000	Federal Home Loan Mortgage Corp (FHLMC)		0.095		02/01/21		4,790
	20,000,000	Federal National Mortgage Association (FNMA)		0.200		10/16/20		19,999
		TOTAL GOVERNMENT AGENCY DEBT						670,157
TREASURY DEBT - 7.0%
EGP	26,500,000	Egypt Treasury Bill		0.000		01/05/21		1,627
	46,900,000	Egypt Treasury Bills		0.000		02/16/21		2,836
$	87,865,000	United States Cash Management Bill		0.065-0.080		10/13/20		87,863
	50,000,000	United States Cash Management Bill		0.110		11/10/20		49,995
	45,000,000	United States Cash Management Bill		0.116		12/08/20		44,988
	22,700,000	United States Cash Management Bill		0.116		12/22/20		22,695
	40,000,000	United States Cash Management Bill		0.101		12/29/20		39,991
	53,955,000	United States Cash Management Bill		0.096-0.111		01/05/21		53,941
	19,100,000	United States Cash Management Bill		0.090		01/12/21		19,096
	25,000,000	United States Cash Management Bill		0.096		02/23/21		24,990
	40,000,000	United States Cash Management Bill		0.098		03/02/21		39,983
	30,000,000	United States Treasury Bill		0.136		10/01/20		30,000
	3,000,000	United States Treasury Bill		0.140		10/06/20		3,000
	25,000,000	United States Treasury Bill		0.113		10/15/20		24,999
	20,700,000	United States Treasury Bill		0.088		10/29/20		20,699
	19,660,000	United States Treasury Bill		0.082-0.085		11/05/20		19,658
	112,880,000	United States Treasury Bill		0.086-0.117		11/19/20		112,866
	39,370,000	United States Treasury Bill		0.090-0.097		11/27/20		39,364
	47,055,000	United States Treasury Bill		0.090-0.110		12/03/20		47,047
	50,000,000	United States Treasury Bill		0.100		12/17/20		49,990
	34,400,000	United States Treasury Bill		0.091		12/24/20		34,391
	45,823,000	United States Treasury Bill		0.100-0.117		12/31/20		45,811
	25,000,000	United States Treasury Bill		0.098		01/14/21		24,992
	40,000,000	United States Treasury Bill		0.094		01/21/21		39,987
	25,000,000	United States Treasury Bill		0.111		02/04/21		24,991
	44,720,000	United States Treasury Bill		0.108-0.110		02/11/21		44,702
	95,500,000	United States Treasury Bill		0.106		03/25/21		95,448
		TOTAL TREASURY DEBT						1,045,950
		TOTAL SHORT-TERM INVESTMENTS						1,716,107
		(Cost $1,716,060)
		TOTAL INVESTMENTS - 107.5%						16,027,495
		(Cost $15,264,458)
		OTHER ASSETS & LIABILITIES, NET - (7.5)%						(1,122,801	)
		NET ASSETS - 100.0%					$	14,904,694

373

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

	Abbreviation(s):
ADR	American Depositary Receipt
AUD	Australian Dollar
CAD	Canadian Dollar
CNY	Chinese Yuan
CZK	Czechoslovak Koruna
DKK	Danish Krone
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
MXN	Mexican Peso
MYR	Malaysian Ringgit
NOK	Norwegian Krone
NZD	New Zealand Dollar
PEN	Peruvian Sol
PLN	Polish Zloty
REIT	Real Estate Investment Trust
RSD	Serbian Dinar
RUB	Russian Ruble
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 9/30/20, the aggregate value of these securities is $2,692,035,031 or 18.1% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
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.

374

COLLEGE RETIREMENT EQUITIES FUND - Bond Market Account

Forward foreign currency contracts outstanding as of September 30, 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)
$	7,182	CAD	9,610	Australia and New Zealand Banking Group	11/30/20	$	(36	)
$	2,820	NZD	4,302	Australia and New Zealand Banking Group	11/30/20		(26	)
Total						$	(62	)
$	9,931	KRW	11,800,516	Bank of America	10/05/20	$	(180	)
KRW	11,800,516	$	10,056	Bank of America	10/05/20		56
Total						$	(124	)
$	4,338	AUD	6,144	Citibank N.A.	11/30/20	$	(64	)
$	1,229	EUR	1,033	Citibank N.A.	11/18/20		17
$	94,369	EUR	80,882	Citibank N.A.	11/30/20		(581	)
$	1,897	PLN	7,458	Citibank N.A.	10/30/20		(33	)
$	942	THB	29,898	Citibank N.A.	10/30/20		(1	)
Total						$	(662	)
$	774	CZK	18,057	Morgan Stanley	10/30/20	$	(9	)
$	2,914	ILS	10,087	Morgan Stanley	10/30/20		(32	)
$	10,056	KRW	11,800,516	Morgan Stanley	10/05/20		(56	)
$	9,987	KRW	11,747,155	Morgan Stanley	10/30/20		(87	)
KRW	11,800,516	$	10,034	Morgan Stanley	10/05/20		78
$	383	ZAR	6,600	Morgan Stanley	10/30/20		(10	)
Total						$	(116	)
$	9,541	CNY	65,204	Toronto Dominion Bank	10/30/20	$	(52	)
$	988	DKK	6,299	Toronto Dominion Bank	11/30/20		(5	)
$	21,073	GBP	16,395	Toronto Dominion Bank	11/30/20		(88	)
$	39,666	JPY	4,181,361	Toronto Dominion Bank	11/30/20		(8	)
$	4,919	NOK	46,598	Toronto Dominion Bank	11/30/20		(77	)
Total						$	(230	)
Total						$	(1,194	)

	Abbreviations(s):
AUD	Australian Dollar
CAD	Canadian Dollar
CNY	Chinese Yuan
CZK	Czechoslovak Koruna
DKK	Danish Krone
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
THB	Thai Baht
ZAR	South African Rand

Centrally cleared credit default swap contracts outstanding as of September 30, 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-NAHYS35V1-5Y	5.000%	Credit event as specified in contract	Citigroup Global Markets, Inc	12/20/25	$	48,500	$	(73	)	$	(202	)

* 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.

375

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

COLLEGE RETIREMENT EQUITIES FUND

INFLATION-LINKED BOND ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
GOVERNMENT BONDS -  99.6%
AGENCY SECURITIES - 0.9%
$	3,931,358		Crowley Conro LLC		4.181	%	08/15/43	$	4,706
	10,000,000		Federal Home Loan Mortgage Corp (FHLMC)		1.500		02/12/25		10,483
	16,740,000		Montefiore Medical Center		2.895		04/20/32		18,151
	3,000,000		Private Export Funding Corp (PEFCO)		3.250		06/15/25		3,352
	3,618,421		Reliance Industries Ltd		2.444		01/15/26		3,801
	15,000,000		Ukraine Government AID International Bonds		1.471		09/29/21		15,187
	5,000,000		United States International Development Finance Corp		1.490		08/15/31		5,170
			TOTAL AGENCY SECURITIES						60,850
MORTGAGE BACKED - 2.7%
	16,000,000		Federal Home Loan Bank (FHLB)		0.375		09/04/25		15,994
	22,124,448		Government National Mortgage Association (GNMA)		3.600		09/15/31		24,490
	10,961,621		GNMA		3.650		02/15/32		12,115
	2,399,277		GNMA		3.380		07/15/35		2,621
	3,095,587		GNMA		3.870		10/15/36		3,445
	40,590,935		GNMA		1.730		07/15/37		41,758
	59,357,593		GNMA		4.250		09/15/38		64,448
	27,195,440		GNMA		2.750		01/15/45		29,608
			TOTAL MORTGAGE BACKED						194,479
U.S. TREASURY SECURITIES - 96.0%
	40,193,445	k	United States Treasury Inflation Indexed Bonds		1.125		01/15/21		40,445
	69,231,263	k	United States Treasury Inflation Indexed Bonds		0.625		07/15/21		70,262
	327,326,988	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/22		332,473
	281,750,690	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/22		286,698
	328,943,840	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/22		337,411
	335,576,670	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/23		345,742
	236,747,380	k	United States Treasury Inflation Indexed Bonds		0.625		04/15/23		247,586
	238,777,110	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/23		250,413
	154,603,705	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/24		164,263
	209,540,640	k	United States Treasury Inflation Indexed Bonds		0.500		04/15/24		222,435
	140,196,070	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/24		148,282
	174,174,975	k	United States Treasury Inflation Indexed Bonds		0.125		10/15/24		184,843
	178,279,620	k	United States Treasury Inflation Indexed Bonds		0.250		01/15/25		190,149
	271,100,336	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/25		314,630
	137,401,410	k	United States Treasury Inflation Indexed Bonds		0.125		04/15/25		146,202
	128,904,380	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/25		139,909
	160,268,220	k	United States Treasury Inflation Indexed Bonds		0.625		01/15/26		176,621
	216,438,107	k	United States Treasury Inflation Indexed Bonds		2.000		01/15/26		254,902
	149,143,500	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/26		161,672

376

COLLEGE RETIREMENT EQUITIES FUND - Inflation-Linked Bond Account

PRINCIPAL			ISSUER	RATE			MATURITY DATE	VALUE (000)
$	225,748,620	k	United States Treasury Inflation Indexed Bonds		0.375	%	01/15/27	$	248,318
	123,578,520	k	United States Treasury Inflation Indexed Bonds		2.375		01/15/27		152,342
	122,317,965	k	United States Treasury Inflation Indexed Bonds		0.375		07/15/27		135,926
	215,824,320	k	United States Treasury Inflation Indexed Bonds		0.500		01/15/28		242,103
	213,184,668	k	United States Treasury Inflation Indexed Bonds		1.750		01/15/28		259,547
	113,760,032	k	United States Treasury Inflation Indexed Bonds		3.625		04/15/28		155,913
	132,099,840	k	United States Treasury Inflation Indexed Bonds		0.750		07/15/28		152,118
	214,425,640	k	United States Treasury Inflation Indexed Bonds		0.875		01/15/29		249,633
	142,258,140	k	United States Treasury Inflation Indexed Bonds		2.500		01/15/29		185,736
	205,001,026	k	United States Treasury Inflation Indexed Bonds		3.875		04/15/29		294,573
	280,534,520	k	United States Treasury Inflation Indexed Bonds		0.250		07/15/29		313,629
	85,585,650	k	United States Treasury Inflation Indexed Bonds		0.125		01/15/30		94,514
	70,728,000	k	United States Treasury Inflation Indexed Bonds		0.125		07/15/30		78,581
	51,811,540	k	United States Treasury Inflation Indexed Bonds		3.375		04/15/32		78,556
	23,971,400	k	United States Treasury Inflation Indexed Bonds		2.125		02/15/40		36,659
	80,000,000		United States Treasury Note		0.125		06/30/22		79,981
	44,000,000		United States Treasury Note		0.250		09/30/25		43,941
			TOTAL U.S. TREASURY SECURITIES						6,817,008
			TOTAL GOVERNMENT BONDS						7,072,337
			(Cost $6,444,405)
SHORT-TERM INVESTMENTS - 0.2%
GOVERNMENT AGENCY DEBT - 0.1%
	5,250,000		Federal National Mortgage Association (FNMA)		0.200		10/16/20		5,250
			TOTAL GOVERNMENT AGENCY DEBT						5,250
REPURCHASE AGREEMENT - 0.1%
	4,690,000	r	Fixed Income Clearing Corp (FICC)		0.070		10/01/20		4,690
			TOTAL REPURCHASE AGREEMENT						4,690
			TOTAL SHORT-TERM INVESTMENTS						9,940
			(Cost $9,939)
			TOTAL INVESTMENTS - 99.8%						7,082,277
			(Cost $6,454,344)
			OTHER ASSETS & LIABILITIES, NET - 0.2%						15,717
			NET ASSETS - 100.0%					$	7,097,994

k	Principal amount for interest accrual purposes is periodically adjusted based on changes in the Consumer Price Index.
r	Agreement with Fixed Income Clearing Corporation, 0.070% dated 9/30/20 to be repurchased at $4,690,000 on 10/1/20, collateralized by U.S. Treasury Notes valued at $4,783,898.
	Cost amounts are in thousands.

377

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

COLLEGE RETIREMENT EQUITIES FUND

SOCIAL CHOICE ACCOUNT

SCHEDULE OF INVESTMENTS (unaudited)

September 30, 2020

PRINCIPAL			ISSUER	REFERENCE RATE & SPREAD	RATE			MATURITY DATE	VALUE (000)
BANK LOAN OBLIGATIONS - 0.1%
TECHNOLOGY HARDWARE & EQUIPMENT - 0.0%
$	3,458,581	i	MTS Systems Corp	LIBOR 1 M + 3.250%		4.000	%	07/05/23	$	3,407
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT							3,407
TRANSPORTATION - 0.0%
	2,326,669	i	Delta Air Lines, Inc	LIBOR 3 M + 4.750%		5.750		05/01/23		2,321
			TOTAL TRANSPORTATION							2,321
UTILITIES - 0.1%
	5,172,976	i	ExGen Renewables IV LLC	LIBOR 3 M + 3.000%		4.000		11/28/24		5,158
			TOTAL UTILITIES							5,158
			TOTAL BANK LOAN OBLIGATIONS							10,886
			(Cost $10,871)
BONDS - 39.5%
CORPORATE BONDS - 16.1%
AUTOMOBILES & COMPONENTS - 0.3%
	6,675,000		Aptiv plc			5.400		03/15/49		7,545
	9,600,000	g	BMW US Capital LLC			4.150		04/09/30		11,359
	5,400,000		BorgWarner, Inc			2.650		07/01/27		5,696
	2,125,000	g	Harley-Davidson Financial Services, Inc			2.850		01/15/21		2,133
	8,000,000	g	Harley-Davidson Financial Services, Inc			4.050		02/04/22		8,267
			TOTAL AUTOMOBILES & COMPONENTS							35,000
BANKS - 2.3%
	13,750,000		Bank of America Corp			0.981		09/25/25		13,747
	14,025,000		Bank of America Corp			2.456		10/22/25		14,790
	13,499,000	g	BNP Paribas S.A.			2.219		06/09/26		13,921
	10,500,000	g	BNP Paribas S.A.			2.588		08/12/35		10,189
	21,375,000	g	BPCE S.A.			1.652		10/06/26		21,379
	10,000,000		Citigroup, Inc			1.678		05/15/24		10,243
	10,250,000		Citizens Bank NA			2.250		04/28/25		10,886
	3,800,000		Citizens Bank NA			3.750		02/18/26		4,360
	9,075,000		Citizens Financial Group, Inc			3.250		04/30/30		10,011
	4,950,000		Cooperatieve Rabobank UA			3.750		07/21/26		5,512
	14,850,000	g	Credit Agricole S.A.			1.907		06/16/26		15,184
	6,051,000	g	ING Groep NV			4.625		01/06/26		7,095
	16,025,000	g	ING Groep NV			1.400		07/01/26		16,204
	6,200,000	g	Intesa Sanpaolo S.p.A			6.500		02/24/21		6,328
	2,714,000	g	Intesa Sanpaolo S.p.A			3.375		01/12/23		2,818
	1,825,000	g	Intesa Sanpaolo S.p.A			5.017		06/26/24		1,918
	9,750,000	g	Intesa Sanpaolo S.p.A			3.250		09/23/24		10,293

378

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	2,375,000	g	Intesa Sanpaolo S.p.A			5.710	%	01/15/26	$	2,589
	7,200,000	g	Intesa Sanpaolo S.p.A			4.000		09/23/29		7,842
	5,525,000	g	Intesa Sanpaolo S.p.A			4.700		09/23/49		6,176
	9,150,000		KeyCorp			2.250		04/06/27		9,678
	2,375,000		KeyCorp			2.550		10/01/29		2,523
	4,000,000		Lloyds Banking Group plc			4.500		11/04/24		4,367
	9,494,000		Lloyds Banking Group plc			3.870		07/09/25		10,338
	11,250,000	i	M&T Bank Corp	LIBOR 3 M + 0.680%		0.925		07/26/23		11,343
	285,000		Manufacturers & Traders Trust Co			2.900		02/06/25		311
	3,425,000		Manufacturers & Traders Trust Co			3.400		08/17/27		3,830
	10,000,000		Mitsubishi UFJ Financial Group, Inc			2.527		09/13/23		10,577
	5,925,000	i	Mizuho Financial Group, Inc	LIBOR 3 M + 0.630%		0.880		05/25/24		5,921
	6,125,000		National Australia Bank Ltd			3.625		06/20/23		6,630
	11,125,000	e,g	National Australia Bank Ltd			2.332		08/21/30		10,997
	10,250,000		People’s United Bank NA			4.000		07/15/24		10,952
	18,057,000		People’s United Financial, Inc			3.650		12/06/22		19,051
	9,600,000	e	Regions Financial Corp			5.750		N/A‡		10,248
	2,790,000		Royal Bank of Scotland Group plc			2.359		05/22/24		2,863
	7,275,000		Sumitomo Mitsui Financial Group, Inc			1.474		07/08/25		7,407
	17,785,000		SVB Financial Group			3.500		01/29/25		19,136
	4,350,000		SVB Financial Group			3.125		06/05/30		4,854
	7,000,000		Truist Financial Corp			3.875		03/19/29		8,027
	5,000,000		Truist Financial Corp			4.950		N/A‡		5,262
	11,375,000	g	UniCredit S.p.A			2.569		09/22/26		11,235
	2,000,000	g	USAA Capital Corp			2.125		05/01/30		2,106
			TOTAL BANKS							369,141
CAPITAL GOODS - 0.6%
	7,564,000		3M Co			2.000		02/14/25		8,025
	10,450,000	g	Carrier Global Corp			2.700		02/15/31		10,879
	6,250,000		CNH Industrial Capital LLC			3.875		10/15/21		6,420
	4,800,000		CNH Industrial Capital LLC			4.200		01/15/24		5,157
	10,650,000		GATX Corp			4.000		06/30/30		12,260
	4,000,000		Ingersoll-Rand Luxembourg Finance S.A.			3.550		11/01/24		4,418
	3,175,000		Ingersoll-Rand Luxembourg Finance S.A.			3.500		03/21/26		3,551
	8,975,000		Ingersoll-Rand Luxembourg Finance S.A.			3.800		03/21/29		10,516
	4,150,000	e	Johnson Controls International plc			1.750		09/15/30		4,185
	10,000,000	e,g	NBM US Holdings, Inc			6.625		08/06/29		10,712
	4,975,000		Parker-Hannifin Corp			4.200		11/21/34		6,072
	7,000,000	g	Siemens Financieringsmaatschappij NV			2.350		10/15/26		7,508
	7,375,000		Xylem, Inc			1.950		01/30/28		7,680
	3,575,000		Xylem, Inc			2.250		01/30/31		3,788
			TOTAL CAPITAL GOODS							101,171
CONSUMER DURABLES & APPAREL - 0.1%
	8,700,000		VF Corp			2.800		04/23/27		9,499
			TOTAL CONSUMER DURABLES & APPAREL							9,499
CONSUMER SERVICES - 0.7%
	3,125,000		Conservation Fund			3.474		12/15/29		3,376
	10,000,000		Henry J Kaiser Family Foundation			3.356		12/01/25		10,629
	5,145,000		Low Income Investment Fund			3.711		07/01/29		5,651
	3,440,000		Nature Conservancy			1.331		02/01/24		3,416

379

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	17,500,000		New York Public Library Astor Lenox & Tilden Foundations			4.305	%	07/01/45	$	19,005
	4,060,000		Salvation Army			5.637		09/01/26		4,878
	20,000,000		Salvation Army			4.528		09/01/48		22,154
	12,300,000		Starbucks Corp			2.450		06/15/26		13,327
	9,500,000		Starbucks Corp			4.450		08/15/49		11,518
	11,440,000		Wisconsin Alumni Research Foundation			3.564		10/01/49		12,520
	11,065,000		YMCA of Greater New York			5.151		08/01/48		12,552
			TOTAL CONSUMER SERVICES							119,026
DIVERSIFIED FINANCIALS - 1.6%
	8,680,000		AXA Equitable Holdings, Inc			5.000		04/20/48		10,239
	3,300,000		Bank of New York Mellon Corp			4.700		N/A‡		3,501
	11,500,000		Century Housing Corp			3.995		11/01/21		11,583
	9,220,000		Community Preservation Corp			2.867		02/01/30		9,868
	9,500,000	g	EDP Finance BV			5.250		01/14/21		9,620
	11,625,000	g	EDP Finance BV			3.625		07/15/24		12,643
	4,750,000		Enterprise Community Loan Fund, Inc			4.152		11/01/28		4,898
	10,115,000		Equitable Holdings, Inc			4.950		N/A‡		10,317
	15,000,000		Ford Foundation			2.815		06/01/70		15,597
	2,300,000		Legg Mason, Inc			3.950		07/15/24		2,544
	7,100,000		Morgan Stanley			2.188		04/28/26		7,432
	10,000,000	g	NongHyup Bank			1.250		07/20/25		10,086
	680,000		Reinvestment Fund, Inc			3.377		02/15/22		689
	1,457,000		Reinvestment Fund, Inc			3.166		11/01/23		1,481
	3,000,000		Reinvestment Fund, Inc			3.600		02/15/24		3,096
	10,250,000		Reinvestment Fund, Inc			3.366		11/01/24		10,551
	2,570,000		Reinvestment Fund, Inc			3.513		11/01/25		2,674
	15,240,000		Reinvestment Fund, Inc			3.880		02/15/27		16,173
	10,435,000		Reinvestment Fund, Inc			3.930		02/15/28		11,163
	12,500,000		State Street Corp			2.354		11/01/25		13,229
	5,300,000	g	Swiss Re Finance Luxembourg SA			5.000		04/02/49		6,040
	9,000,000	i	Toronto-Dominion Bank	SOFR + 0.450%		0.520		09/28/23		9,003
	10,000,000		Toyota Motor Credit Corp			2.150		02/13/30		10,532
	7,775,000	g	UBS Group AG.			1.008		07/30/24		7,792
	14,700,000	g	UBS Group AG.			1.364		01/30/27		14,689
	11,075,000	e	Unilever Capital Corp			2.000		07/28/26		11,837
	5,523,000		Unilever Capital Corp			2.125		09/06/29		5,840
	6,125,000		Unilever Capital Corp			1.375		09/14/30		6,164
	1,925,000	g	WLB Asset II Pte Ltd			4.000		01/14/24		1,914
			TOTAL DIVERSIFIED FINANCIALS							241,195
ENERGY - 1.1%
	10,500,000	g	Aker BP ASA			2.875		01/15/26		10,396
	13,825,000	g	Aker BP ASA			4.000		01/15/31		13,633
	6,075,000		Chevron Corp			1.995		05/11/27		6,422
	5,500,000		Chevron Corp			2.236		05/11/30		5,832
	6,479,363	g	Continental Wind LLC			6.000		02/28/33		7,568
	9,625,000		Enbridge, Inc			2.500		01/15/25		10,141
	5,830,000		Enbridge, Inc			5.750		07/15/80		6,033
	4,450,000		EOG Resources, Inc			5.100		01/15/36		5,131
	4,500,000		Equinor ASA			2.650		01/15/24		4,793
	8,125,000		Equinor ASA			2.375		05/22/30		8,586
	5,932,000		Equinor ASA			3.950		05/15/43		6,904

380

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	8,100,000		Equinor ASA			3.250	%	11/18/49	$	8,616
	6,850,000	g	Greenko Dutch BV			4.875		07/24/22		6,853
	3,875,000		ONEOK, Inc			4.000		07/13/27		4,033
	12,175,000		ONEOK, Inc			6.350		01/15/31		14,163
	6,200,000		ONEOK, Inc			4.950		07/13/47		5,885
	18,000,000	g	TerraForm Power Operating LLC			5.000		01/31/28		19,704
	12,850,000		Total Capital International S.A.			2.986		06/29/41		13,386
	6,316,000		Total Capital International S.A.			3.127		05/29/50		6,524
	10,750,000	i	Valero Energy Corp	LIBOR 3 M + 1.150%		1.403		09/15/23		10,713
			TOTAL ENERGY							175,316
FOOD, BEVERAGE & TOBACCO - 0.1%
	9,200,000		Coca-Cola Co			1.750		09/06/24		9,640
	6,375,000		Coca-Cola Co			2.600		06/01/50		6,512
	4,500,000		PepsiCo, Inc			2.875		10/15/49		4,826
			TOTAL FOOD, BEVERAGE & TOBACCO							20,978
HEALTH CARE EQUIPMENT & SERVICES - 0.1%
	16,350,000		Becton Dickinson & Co			2.823		05/20/30		17,620
			TOTAL HEALTH CARE EQUIPMENT & SERVICES							17,620
HOUSEHOLD & PERSONAL PRODUCTS - 0.1%
	7,125,000		Kimberly-Clark Corp			2.875		02/07/50		7,899
	5,300,000		Procter & Gamble Co			3.000		03/25/30		6,144
	3,350,000		Procter & Gamble Co			3.550		03/25/40		4,072
	3,150,000		Procter & Gamble Co			3.600		03/25/50		3,991
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS							22,106
INSURANCE - 1.0%
	5,350,000	g	AIA Group Ltd			3.375		04/07/30		5,998
	4,100,000	g	AIA Group Ltd			3.200		09/16/40		4,234
	18,650,000		Chubb INA Holdings, Inc			1.375		09/15/30		18,383
	3,750,000		CNA Financial Corp			2.050		08/15/30		3,716
	6,400,000	g	Empower Finance 2020 LP			1.357		09/17/27		6,378
	5,750,000	g	Empower Finance 2020 LP			1.776		03/17/31		5,746
	10,500,000	g	Equitable Financial Life Global Funding			1.400		08/27/27		10,533
	15,675,000	g	Five Corners Funding Trust II			2.850		05/15/30		16,907
	4,700,000	g	Great-West Lifeco US Finance 2020 LP			0.904		08/12/25		4,688
	20,000,000		Principal Financial Group, Inc			2.125		06/15/30		20,588
	2,475,000		Prudential Financial, Inc			1.500		03/10/26		2,578
	15,000,000		Prudential Financial, Inc			5.200		03/15/44		15,887
	4,265,000		Prudential Financial, Inc			3.700		10/01/50		4,352
	6,100,000		Reinsurance Group of America, Inc			3.150		06/15/30		6,641
	18,222,000	g	Swiss Re Treasury US Corp			2.875		12/06/22		18,715
	14,024,000	g	Swiss Re Treasury US Corp			4.250		12/06/42		17,319
	2,075,000		Travelers Cos, Inc			2.550		04/27/50		2,031
			TOTAL INSURANCE							164,694
MATERIALS - 1.0%
	10,625,000	g	Air Liquide Finance S.A.			2.250		09/10/29		11,300
	7,250,000	g	Celulosa Arauco y Constitucion S.A.			4.200		01/29/30		7,676
	10,000,000	g	Celulosa Arauco y Constitucion S.A.			5.150		01/29/50		10,590
	4,800,000		Commercial Metals Co			5.750		04/15/26		4,992

381

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	10,775,000		DuPont de Nemours, Inc		2.169	%	05/01/23	$	10,875
	14,000,000		Ecolab, Inc		1.300		01/30/31		13,697
	13,500,000		Ecolab, Inc		2.125		08/15/50		12,358
	10,500,000		Fibria Overseas Finance Ltd		5.500		01/17/27		11,865
	5,000,000		International Paper Co		6.000		11/15/41		6,888
	4,600,000		International Paper Co		4.800		06/15/44		5,708
	17,000,000	e,g	Inversiones CMPC S.A.		4.375		04/04/27		18,934
	10,000,000	g	Klabin Austria GmbH		7.000		04/03/49		11,325
	8,125,000	e,g	Klabin Finance S.A.		4.875		09/19/27		8,674
EUR	2,500,000	g	LG Chem Ltd		0.500		04/15/23		2,932
$	3,250,000	g	LG Chem Ltd		3.625		04/15/29		3,605
	5,000,000		Newmont Corp		2.250		10/01/30		5,157
	12,736,000	g	Teck Resources Ltd		3.900		07/15/30		13,317
			TOTAL MATERIALS						159,893
MEDIA & ENTERTAINMENT - 0.3%
	16,025,000		Alphabet, Inc		0.450		08/15/25		15,928
	10,000,000		Alphabet, Inc		1.100		08/15/30		9,901
	4,411,000	g	Discovery Communications LLC		4.000		09/15/55		4,452
	5,650,000	g	Nutrition & Biosciences, Inc		1.832		10/15/27		5,674
	6,350,000	g	Nutrition & Biosciences, Inc		3.268		11/15/40		6,386
	2,320,000		Smithsonian Institution		2.645		09/01/39		2,394
			TOTAL MEDIA & ENTERTAINMENT						44,735
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.9%
	12,674,000	g	AbbVie, Inc		2.300		11/21/22		13,115
	10,000,000	e	Gilead Sciences, Inc		0.750		09/29/23		10,020
	6,275,000		Gilead Sciences, Inc		1.200		10/01/27		6,285
	5,625,000		Gilead Sciences, Inc		2.600		10/01/40		5,612
	15,400,000		Gilead Sciences, Inc		2.800		10/01/50		15,191
	8,650,000		GlaxoSmithKline Capital, Inc		3.625		05/15/25		9,823
	18,450,000		Merck & Co, Inc		0.750		02/24/26		18,506
	9,075,000		Merck & Co, Inc		1.450		06/24/30		9,201
	15,600,000		Merck & Co, Inc		2.350		06/24/40		15,831
	13,700,000		Merck & Co, Inc		2.450		06/24/50		13,627
	10,000,000		Takeda Pharmaceutical Co Ltd		2.050		03/31/30		10,128
	12,125,000		Takeda Pharmaceutical Co Ltd		3.175		07/09/50		12,411
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES						139,750
REAL ESTATE - 0.8%
	7,250,000		Boston Properties LP		3.250		01/30/31		7,808
	1,975,000		Brandywine Operating Partnership LP		3.950		02/15/23		2,043
	4,300,000		Brandywine Operating Partnership LP		3.950		11/15/27		4,461
	9,095,000		Brixmor Operating Partnership LP		3.900		03/15/27		9,620
	15,625,000	h	Equinix, Inc		1.000		09/15/25		15,479
	2,350,000		Equinix, Inc		1.800		07/15/27		2,370
	3,500,000		Federal Realty Investment Trust		2.750		06/01/23		3,632
	6,425,000	g	HAT Holdings I LLC		5.250		07/15/24		6,695
	1,975,000	g	HAT Holdings I LLC		6.000		04/15/25		2,104
	10,000,000	g	HAT Holdings I LLC		3.750		09/15/30		10,025
	3,750,000		Host Hotels & Resorts LP		3.375		12/15/29		3,504
	2,000,000		Host Hotels & Resorts LP		3.500		09/15/30		1,918
	11,075,000		Kilroy Realty LP		3.450		12/15/24		11,685
	6,700,000		Kilroy Realty LP		4.750		12/15/28		7,773

382

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	3,940,000		Life Storage LP		2.200	%	10/15/30	$	3,933
	16,822,000		Regency Centers LP		3.750		06/15/24		17,882
	10,155,000	g	Scentre Group Trust 2		5.125		09/24/80		9,970
	10,825,000		Welltower, Inc		2.750		01/15/31		11,116
			TOTAL REAL ESTATE						132,018
RETAILING - 0.1%
	4,100,000		Advance Auto Parts, Inc		1.750		10/01/27		4,083
	7,800,000		Chevron USA, Inc		2.343		08/12/50		7,276
	3,150,000		Lowe’s Cos, Inc		5.000		04/15/40		4,126
			TOTAL RETAILING						15,485
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 0.0%
	5,325,000	g	NXP BV		3.400		05/01/30		5,825
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT						5,825
SOFTWARE & SERVICES - 0.4%
	10,000,000		Automatic Data Processing, Inc		1.250		09/01/30		9,851
	7,500,000		Visa, Inc		1.900		04/15/27		7,957
	10,000,000		Visa, Inc		0.750		08/15/27		9,918
	17,000,000		Visa, Inc		1.100		02/15/31		16,633
	12,425,000		Visa, Inc		2.000		08/15/50		11,457
			TOTAL SOFTWARE & SERVICES						55,816
TECHNOLOGY HARDWARE & EQUIPMENT - 0.1%
	14,250,000		Apple, Inc		3.000		06/20/27		16,068
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT						16,068
TRANSPORTATION - 0.5%
	5,350,000		Canadian Pacific Railway Co		2.050		03/05/30		5,575
	1,665,391		Delta Air Lines, Inc		4.250		07/30/23		1,532
	7,150,000		Delta Air Lines, Inc		3.204		04/25/24		7,124
	7,825,000		Delta Air Lines, Inc		2.900		10/28/24		6,964
	6,250,000	g	Delta Air Lines, Inc		7.000		05/01/25		6,861
	7,950,000		Delta Air Lines, Inc		7.375		01/15/26		8,333
	5,000,000		Delta Air Lines, Inc		2.000		06/10/28		4,831
	13,800,000		Delta Air Lines, Inc		2.500		06/10/28		12,395
	4,850,000		Delta Air Lines, Inc		3.750		10/28/29		4,135
	7,000,000		Kansas City Southern		4.300		05/15/43		7,382
	15,925,000		Kansas City Southern		4.950		08/15/45		17,722
	475,000		Norfolk Southern Corp		5.590		05/17/25		567
	1,360,000		United Parcel Service of America, Inc (Step Bond)		7.620		04/01/30		2,036
			TOTAL TRANSPORTATION						85,457
UTILITIES - 4.0%
	14,500,000	g	AES Gener S.A.		6.350		10/07/79		14,627
	3,925,000		American Water Capital Corp		2.800		05/01/30		4,296
	4,375,000		Arizona Public Service Co		3.750		05/15/46		4,981
	14,950,000		Avangrid, Inc		3.200		04/15/25		16,451
	13,200,000		Avangrid, Inc		3.800		06/01/29		15,238
	10,275,000		Avista Corp		4.350		06/01/48		12,956
	700,000	g	Azure Power Energy Ltd		5.500		11/03/22		713
	5,900,000	g	Azure Power Solar Energy Pvt Ltd		5.650		12/24/24		6,127

383

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	9,750,000	g	Brooklyn Union Gas Co		4.273	%	03/15/48	$	12,163
	13,500,000	g	Brooklyn Union Gas Co		4.487		03/04/49		17,312
	2,225,000		CenterPoint Energy Houston Electric LLC		2.900		07/01/50		2,383
	3,000,000		Clearway Energy Operating LLC		5.750		10/15/25		3,157
	3,550,000		CMS Energy Corp		4.750		06/01/50		3,760
	2,000,000		Connecticut Light & Power Co		5.750		03/01/37		2,725
	7,525,000	g	Consorcio Transmantaro SA		4.700		04/16/34		8,898
	4,200,000		Consumers Energy Co		2.500		05/01/60		3,936
	8,850,000		Dominion Energy Gas Holdings LLC		2.500		11/15/24		9,405
	7,110,000		Dominion Energy, Inc		3.600		03/15/27		8,084
	4,850,000		Dominion Energy, Inc (Step Bond)		3.071		08/15/24		5,214
	8,787,000		DTE Electric Co		3.950		03/01/49		11,062
	10,750,000		Duke Energy Florida LLC		2.500		12/01/29		11,662
	3,350,000	g	East Ohio Gas Co		1.300		06/15/25		3,414
	3,100,000	g	East Ohio Gas Co		2.000		06/15/30		3,208
	22,750,000	g	Electricite de France S.A.		3.625		10/13/25		25,473
	10,000,000		Essential Utilities, Inc		2.704		04/15/30		10,693
	13,750,000		Essential Utilities, Inc		3.351		04/15/50		14,662
	2,800,000		Eversource Energy		0.800		08/15/25		2,785
	2,050,000		Florida Power & Light Co		2.850		04/01/25		2,248
	9,885,000	e	Georgia Power Co		3.250		04/01/26		10,953
	14,000,000	g	Hanwha Energy USA Holdings Corp		2.375		07/30/22		14,389
	2,745,000		International Transmission Co		4.625		08/15/43		3,410
	24,325,000	g	Korea Hydro & Nuclear Power Co Ltd		3.750		07/25/23		26,370
	4,000,000		MidAmerican Energy Co		3.100		05/01/27		4,482
	2,375,000		MidAmerican Energy Co		3.650		04/15/29		2,828
	1,000,000		MidAmerican Energy Co		3.950		08/01/47		1,252
	4,250,000		MidAmerican Energy Co		3.150		04/15/50		4,698
	4,300,000	g	Narragansett Electric Co		3.919		08/01/28		4,987
	12,350,000		National Fuel Gas Co		5.500		01/15/26		13,479
	3,225,000	g	NextEra Energy Operating Partners LP		4.250		07/15/24		3,363
	2,050,000	g	NextEra Energy Operating Partners LP		4.250		09/15/24		2,137
	3,000,000	g	Niagara Mohawk Power Corp		1.960		06/27/30		3,085
	9,732,000	g	Niagara Mohawk Power Corp		4.278		10/01/34		12,009
	9,750,000	g	Niagara Mohawk Power Corp		4.119		11/28/42		11,892
	7,350,000		NorthWestern Corp		4.176		11/15/44		8,622
	5,425,000		Oklahoma Gas & Electric Co		3.250		04/01/30		6,075
	1,925,000	g	Pattern Energy Operations LP		4.500		08/15/28		1,997
	8,425,000	g	Protective Life Global Funding		1.082		06/09/23		8,544
	13,050,000		PSEG Power LLC		3.850		06/01/23		14,040
	630,000		Public Service Co of Colorado		4.750		08/15/41		812
	5,000,000		Public Service Co of Colorado		3.200		03/01/50		5,674
	2,975,000		Public Service Co of New Hampshire		3.600		07/01/49		3,459
	19,475,000		Public Service Enterprise Group, Inc		0.800		08/15/25		19,342
	19,350,000		Public Service Enterprise Group, Inc		1.600		08/15/30		19,029
	14,250,000	e	Sempra Energy		4.875		N/A‡		14,642
	23,287,997	g	Solar Star Funding LLC		3.950		06/30/35		24,211
	21,754,530	g	Solar Star Funding LLC		5.375		06/30/35		25,394
	25,000,000		Southern Power Co		4.150		12/01/25		28,661
	2,200,000		Southwest Gas Corp		2.200		06/15/30		2,300
	7,025,000		Southwestern Public Service Co		3.750		06/15/49		8,273
	5,400,000		Southwestern Public Service Co		3.150		05/01/50		5,810
	28,207,700	g	Star Energy Geothermal Wayang Windu Ltd		6.750		04/24/33		31,031
	14,048,825	g	Topaz Solar Farms LLC		4.875		09/30/39		15,531

384

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	10,886,258	g	Topaz Solar Farms LLC			5.750	%	09/30/39	$	12,684
	8,000,000		Tucson Electric Power Co			1.500		08/01/30		7,924
	19,650,000	e	Westar Energy, Inc			2.550		07/01/26		21,292
			TOTAL UTILITIES							642,314
			TOTAL CORPORATE BONDS							2,573,107
			(Cost $2,430,037)
GOVERNMENT BONDS -  20.0%
AGENCY SECURITIES - 1.7%
	4,393,000		Canal Barge Co, Inc			4.500		11/12/34		5,102
	1,319,904		DY7 Leasing LLC			2.578		12/10/25		1,383
	7,577,968		Ethiopian Leasing LLC			2.566		08/14/26		8,040
	11,250,000		Federal Home Loan Mortgage Corp (FHLMC)			0.125		07/25/22		11,244
	23,000,000		FHLMC			0.375		05/05/23		23,097
	8,000,000		Federal National Mortgage Association (FNMA)			0.625		04/22/25		8,107
	18,880,000		FNMA			0.875		08/05/30		18,568
	5,950,000		Hashemite Kingdom of Jordan Government AID International Bond			3.000		06/30/25		6,624
	2,960,000	g	Hospital for Special Surgery			3.500		01/01/23		3,045
	4,875,000	i	India Government AID Bond	LIBOR 3 M + 0.100%		0.351		02/01/27		4,785
	3,625,000		Lutheran Medical Center			1.982		02/20/30		3,771
	2,705,000	g	Montefiore Medical Center			3.896		05/20/27		2,735
	17,760,000		Montefiore Medical Center			2.895		04/20/32		19,257
	14,065,000		New York Society for the Relief of the Ruptured & Crippled			2.881		12/20/31		14,884
	2,649,229		Overseas Private Investment Corp (OPIC)			0.000		07/17/21		2,856
	1,180,644		OPIC			2.040		12/15/26		1,223
	13,130,880		OPIC			3.220		09/15/29		14,874
	11,817,793		OPIC			3.280		09/15/29		13,421
	6,000,000		OPIC			1.790		10/15/29		6,327
	18,750,000		OPIC			2.360		10/15/29		20,431
	2,250,544		OPIC			2.610		04/15/30		2,455
	3,120,750		OPIC			2.930		05/15/30		3,487
	5,157,450		OPIC			3.040		05/15/30		5,798
	5,735,389		OPIC			3.540		06/15/30		6,560
	14,992,534		OPIC			3.370		12/15/30		17,047
	1,029,852		OPIC			2.810		07/31/33		1,166
	1,647,762		OPIC			2.940		07/31/33		1,880
	5,400,000		OPIC			2.450		07/15/38		6,043
	4,000,000		Private Export Funding Corp (PEFCO)			3.550		01/15/24		4,338
	8,000,000		PEFCO			3.250		06/15/25		8,940
	695,232		Tayarra Ltd			3.628		02/15/22		710
	620,193		Tricahue Leasing LLC			3.503		11/19/21		632
	8,750,000		United States International Development Finance Corp			1.630		07/15/38		9,101
	6,580,000		UNM Sandoval Regional Medical Center			4.500		07/20/36		6,656
	1,900,000		US Department of Housing and Urban Development (HUD)			5.050		08/01/21		1,932
	3,217,000		HUD			2.910		08/01/23		3,286
	5,000,000		HUD			3.535		08/01/36		5,740
			TOTAL AGENCY SECURITIES							275,545

385

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
FOREIGN GOVERNMENT BONDS - 3.2%
$	4,000,000		African Development Bank			3.000	%	12/06/21	$	4,130
	12,750,000		African Development Bank			0.750		04/03/23		12,905
	9,500,000		Asian Development Bank			2.125		03/19/25		10,220
	6,500,000		Asian Development Bank			1.750		08/14/26		6,947
	14,000,000		Asian Development Bank			3.125		09/26/28		16,616
	12,400,000	g	BNG Bank NV			2.625		02/27/24		13,338
	10,000,000	g	Caisse d’Amortissement de la Dette Sociale			0.375		09/23/25		9,931
	9,000,000		Chile Government International Bond			3.500		01/25/50		10,260
	9,925,000	g	Egypt Government International Bond			5.250		10/06/25		9,902
	12,750,000		European Bank for Reconstruction & Development			1.875		07/15/21		12,913
	19,500,000		European Bank for Reconstruction & Development			1.625		09/27/24		20,479
	3,750,000	e	European Investment Bank			2.375		05/24/27		4,179
	11,600,000		European Investment Bank			1.625		10/09/29		12,425
	2,000,000		European Investment Bank			4.875		02/15/36		3,016
	1,925,000	g	Guatemala Government International Bond			5.375		04/24/32		2,208
	6,082,000		Hydro Quebec			8.400		01/15/22		6,692
	20,000,000	i	Inter-American Development Bank	LIBOR 3 M + 0.010%		0.285		01/15/22		19,988
	11,000,000		International Bank for Reconstruction & Development			0.625		04/22/25		11,099
	19,250,000		International Bank for Reconstruction & Development			3.125		11/20/25		21,840
	27,150,000	e,g	International Development Association			2.750		04/24/23		28,835
	46,500,000		International Finance Corp			1.546		11/04/21		46,918
	7,375,000		International Finance Corp			0.500		03/20/23		7,412
	33,500,000		International Finance Corp			2.125		04/07/26		36,451
	5,000,000		Japan Bank for International Cooperation			1.875		04/20/21		5,043
	12,500,000	g	Kommunalbanken AS.			2.125		02/11/25		13,403
	8,750,000	i	Korea Development Bank International Bond	LIBOR 3 M + 0.725%		1.029		07/06/22		8,805
	10,100,000	g	Korea Electric Power Corp			1.125		06/15/25		10,149
	13,000,000		Landwirtschaftliche Rentenbank			0.875		09/03/30		12,994
	3,000,000	g	Nacional Financiera SNC			3.375		11/05/20		3,001
	18,250,000	g	Nederlandse Waterschapsbank NV			1.750		01/15/25		19,236
	19,000,000	g	Nederlandse Waterschapsbank NV			2.375		03/24/26		20,797
	6,708,000		North American Development Bank			2.400		10/26/22		6,938
	22,800,000	g	Perusahaan Penerbit SBSN Indonesia III			3.750		03/01/23		24,198
	10,500,000	g	Perusahaan Penerbit SBSN Indonesia III			3.900		08/20/24		11,532
	12,700,000		Province of Manitoba Canada			3.050		05/14/24		13,820
	10,000,000		Province of Quebec Canada			2.750		04/12/27		11,197
	5,000,000		Province of Quebec Canada			7.500		09/15/29		7,668
	10,000,000		Republic of Italy Government International Bond			2.875		10/17/29		10,351
	7,750,000		Republic of Italy Government International Bond			4.000		10/17/49		8,312
			TOTAL FOREIGN GOVERNMENT BONDS							516,148
MORTGAGE BACKED - 8.9%
	18,700,000		Federal Home Loan Mortgage Corp (FHLMC)			0.250		08/24/23		18,702
	13,650,000		FHLMC			0.250		09/08/23		13,659
	2,600,000		FHLMC			3.000		10/15/33		2,902
	6,437,513		FHLMC			3.500		08/15/43		6,643
	3,229,735		FHLMC			3.500		03/15/44		3,540
	2,190,049	i	FHLMC			5.768		03/15/44		418
	6,311,511		FHLMC			4.000		10/01/47		6,986
	4,342,930		FHLMC			4.000		06/01/48		4,752
	6,770,123	i	FHLMC			9.676		06/15/48		8,508

386

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	6,766,259		FHLMC		4.000	%	07/01/48	$	7,443
	5,001,843	i	FHLMC		9.596		10/15/48		6,362
	16,306,601		FHLMC		3.000		11/01/49		17,346
	1,094		Federal Home Loan Mortgage Corp Gold (FGLMC)		7.000		05/01/23		1
	10,923		FGLMC		8.000		01/01/31		11
	182,472		FGLMC		4.500		07/01/33		201
	1,267,692		FGLMC		7.000		12/01/33		1,484
	344,580		FGLMC		7.000		05/01/35		400
	880,063		FGLMC		5.000		06/01/36		1,012
	273,216		FGLMC		5.000		07/01/39		315
	495,809		FGLMC		4.500		10/01/44		554
	494,382		FGLMC		4.500		11/01/44		552
	823,394		FGLMC		4.500		11/01/44		919
	347,311		FGLMC		4.500		12/01/44		382
	523,514		FGLMC		4.500		12/01/44		585
	1,775,889		FGLMC		3.500		04/01/45		1,963
	16,442,537		FGLMC		3.500		10/01/45		18,137
	7,646,274		FGLMC		4.000		12/01/45		8,497
	25,684,042		FGLMC		3.500		08/01/46		28,302
	11,423,238		FGLMC		3.000		02/01/47		11,981
	919,514		FGLMC		4.500		06/01/47		1,026
	2,218,593		FGLMC		4.000		09/01/47		2,431
	1,604,550		FGLMC		3.500		12/01/47		1,758
	8,778,170		FGLMC		3.500		03/01/48		9,597
	10,623,751		FGLMC		4.000		03/01/48		11,824
	2,510,282		FGLMC		4.000		07/01/48		2,762
	7,674,422		FGLMC		4.500		08/01/48		8,487
	20,000,000		Federal National Mortgage Association (FNMA)		0.250		07/10/23		19,994
	7,384		FNMA		8.000		07/01/24		8
	18,500,000	i	FNMA		2.895		02/25/27		20,528
	3,500,000	i	FNMA		3.436		06/25/28		4,053
	2,343,096		FNMA		3.500		05/01/32		2,499
	3,141,692		FNMA		3.000		10/01/32		3,296
	48,000,000	h	FNMA		2.500		10/25/32		50,115
	2,281,350		FNMA		5.000		05/01/35		2,622
	4,868,559		FNMA		2.500		07/01/35		5,095
	1,478,380		FNMA		5.000		10/01/35		1,701
	41,000,000	h	FNMA		2.000		10/25/35		42,602
	1,114,183		FNMA		5.000		02/01/36		1,282
	1,644,457		FNMA		5.500		11/01/38		1,910
	376,769		FNMA		3.000		05/01/40		395
	1,181,230		FNMA		5.000		09/01/40		1,361
	1,993,200		FNMA		5.000		05/01/41		2,296
	1,187,614		FNMA		4.000		09/01/42		1,301
	1,809,069		FNMA		3.000		04/25/43		1,901
	3,233,645	i	FNMA		5.802		09/25/43		724
	676,776		FNMA		4.000		01/01/44		754
	1,698,218		FNMA		4.500		03/01/44		1,918
	706,696		FNMA		4.500		06/01/44		790
	6,864,349		FNMA		4.500		06/01/44		7,669
	1,608,417		FNMA		4.500		08/01/44		1,797
	3,923,347		FNMA		4.500		10/01/44		4,383
	7,514,979		FNMA		4.500		11/01/44		8,386
	1,482,222		FNMA		5.000		11/01/44		1,703
	1,871,521		FNMA		4.500		12/01/44		2,091
	577,935		FNMA		4.000		01/01/45		632
	8,728,611		FNMA		3.000		02/25/45		9,146

387

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	2,491,157		FNMA		3.000	%	02/25/45	$	2,565
	244,824		FNMA		3.500		03/01/45		271
	180,767		FNMA		3.500		03/01/45		200
	400,165		FNMA		4.500		03/01/45		447
	2,653,099		FNMA		3.000		03/25/45		2,749
	510,761		FNMA		4.500		04/01/45		571
	7,363,118		FNMA		3.500		04/25/45		7,682
	3,798,267		FNMA		3.500		05/01/45		4,225
	1,997,499		FNMA		4.000		12/01/45		2,223
	16,903,594		FNMA		3.000		12/25/45		17,589
	5,677,149		FNMA		3.500		01/01/46		6,261
	7,037,317		FNMA		4.000		01/01/46		7,838
	7,136,303		FNMA		3.500		06/01/46		7,870
	4,034,000		FNMA		3.500		07/01/46		4,449
	6,600,184		FNMA		3.500		07/01/46		7,273
	1,911,936		FNMA		3.500		08/01/46		2,108
	1,178,379		FNMA		3.000		10/01/46		1,214
	5,251,009		FNMA		3.500		10/01/46		5,791
	8,994,164		FNMA		3.000		11/01/46		9,454
	4,439,795		FNMA		3.500		12/01/46		4,708
	14,620,196		FNMA		3.500		01/01/47		15,478
	2,074,646		FNMA		3.000		04/25/47		2,228
	2,478,428		FNMA		4.500		05/01/47		2,779
	789,474		FNMA		3.500		08/01/47		844
	1,722,505		FNMA		3.500		09/01/47		1,836
	7,115,410		FNMA		4.000		09/01/47		7,632
	2,304,555		FNMA		4.000		09/01/47		2,467
	7,082,124		FNMA		4.000		10/01/47		7,558
	928,577		FNMA		3.000		11/01/47		956
	434,179		FNMA		3.500		11/01/47		480
	612,744		FNMA		4.500		11/01/47		688
	5,060,873		FNMA		4.000		12/01/47		5,633
	18,258,784		FNMA		4.000		12/01/47		19,563
	888,298		FNMA		3.500		01/01/48		977
	9,386,258		FNMA		3.500		01/01/48		9,923
	4,419,681		FNMA		4.500		01/01/48		4,974
	1,333,266		FNMA		3.500		02/01/48		1,411
	3,471,863		FNMA		4.500		02/01/48		3,906
	44,574,307		FNMA		3.000		02/25/48		47,376
	15,685,369		FNMA		3.500		03/01/48		16,588
	4,241,433		FNMA		4.000		03/01/48		4,690
	15,019,581		FNMA		4.500		03/01/48		16,863
	9,286,177		FNMA		3.500		04/01/48		9,817
	6,306,613		FNMA		4.000		04/01/48		6,734
	3,030,071		FNMA		4.500		05/01/48		3,402
	2,235,746		FNMA		4.500		05/01/48		2,495
	5,813,579		FNMA		5.000		08/01/48		6,590
	3,317,256		FNMA		0.000		11/25/48		3,075
	3,317,256		FNMA		3.000		11/25/48		370
	753,088		FNMA		3.000		08/01/49		820
	78,000,000	h	FNMA		2.500		10/01/50		81,873
	32,000,000		FNMA		2.000		10/25/50		33,080
	62,000,000		FNMA		3.000		10/25/50		64,947
	53,000,000	h	FNMA		2.000		11/25/50		54,658

388

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

							MATURITY	VALUE
PRINCIPAL			ISSUER	RATE			DATE	(000)
$	73,000,000	h	FNMA		2.500	%	11/25/50	$	76,407
	77,000,000	h	FNMA		3.000		11/25/50		80,679
	3,683,032		Government National Mortgage Association (GNMA)		2.580		08/15/25		3,832
	9,667,116		GNMA		2.690		06/15/33		10,351
	7,912,793		GNMA		3.700		10/15/33		8,736
	109,516		GNMA		5.000		04/15/38		123
	187,764		GNMA		6.500		11/20/38		219
	22,133		GNMA		4.500		02/20/39		26
	7,700,771		GNMA		3.700		08/15/40		8,311
	29,890		GNMA		4.500		08/20/41		34
	102,038		GNMA		4.500		09/20/41		117
	20,928		GNMA		4.500		01/20/44		24
	18,493		GNMA		4.500		02/20/44		21
	47,402		GNMA		4.500		05/20/44		55
	299,216		GNMA		4.500		05/20/44		344
	341,758		GNMA		4.500		08/20/44		394
	220,730		GNMA		4.500		09/20/44		254
	103,245		GNMA		4.500		10/20/44		114
	52,200		GNMA		4.500		11/20/44		57
	211,914		GNMA		4.500		12/20/44		244
	12,272,835		GNMA		2.750		01/15/45		13,362
	274,525		GNMA		4.500		02/20/45		310
	333,673		GNMA		4.500		08/20/45		385
	340,427		GNMA		4.500		08/20/45		393
	307,427		GNMA		4.500		12/20/45		354
	3,617,358		GNMA		4.000		06/20/46		422
	106,000,000	h	GNMA		3.000		10/20/46		110,985
	10,856,104		GNMA		3.500		12/20/46		11,547
	8,038,026		GNMA		3.500		01/20/47		8,582
	6,193,726		GNMA		3.500		01/20/49		6,785
	53,000,000	h	GNMA		2.000		10/20/50		55,054
	69,000,000	h	GNMA		2.500		10/20/50		72,180
			TOTAL MORTGAGE BACKED						1,422,294
MUNICIPAL BONDS - 3.6%
	4,500,000	g	Basin Electric Power Coop		6.127		06/01/41		6,339
	1,170,000		Brunswick & Glynn County Development Authority		3.060		04/01/25		1,282
	1,935,000	g	California Municipal Finance Authority		4.250		11/01/23		1,928
	14,000,000		Chicago Housing Authority		4.361		01/01/38		16,075
	11,645,000		Chicago Metropolitan Water Reclamation District-Greater Chicago		5.720		12/01/38		16,767
	3,035,000		City & County of Honolulu HI		2.668		10/01/27		3,314
	5,645,000		City & County of Honolulu HI		3.974		09/01/35		6,455
	1,615,000		City & County of Honolulu HI		4.004		09/01/36		1,845
	7,085,000		City & County of San Francisco CA		4.000		04/01/47		7,533
	5,500,000		City & County of San Francisco CA Community Facilities District		4.000		09/01/48		5,848
	1,105,000		City of Chicago IL		7.750		01/01/42		1,195
	5,395,000		City of Chicago IL		7.750		01/01/42		6,999
	1,250,000		City of Florence SC		4.250		12/01/34		1,363
	1,000,000		City of Houston TX Combined Utility System Revenue		3.375		11/15/24		1,114
	1,275,000		City of Houston TX Combined Utility System Revenue		4.172		11/15/38		1,464
	7,500,000		City of Los Angeles CA		3.880		09/01/38		8,499
	1,780,000	g	City of Miami FL		4.808		01/01/39		2,017

389

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	3,665,000		City of Norfolk VA			3.050	%	10/01/36	$	4,272
	4,835,000		City of Oakland CA			2.070		01/15/29		4,955
	3,345,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.000		11/01/26		3,705
	3,725,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.950		11/01/36		4,167
	8,615,000		City of San Francisco CA Public Utilities Commission Water Revenue			3.303		11/01/39		9,305
	18,500,000		City of San Francisco CA Public Utilities Commission Water Revenue			4.185		11/01/46		20,463
	1,000,000		City of San Juan Capistrano CA			3.700		08/01/31		1,127
	2,730,000		Commonwealth Financing Authority			3.864		06/01/38		3,138
	11,650,000	i	Connecticut Housing Finance Authority	SOFR + 0.650%		0.730		05/15/49		11,646
	7,650,000		County of Alameda CA			3.820		08/01/38		8,532
	1,500,000		County of Miami-Dade FL Aviation Revenue			2.218		10/01/22		1,519
	12,015,000		County of Miami-Dade FL Water & Sewer System Revenue			3.490		10/01/42		12,883
	935,000		County of Saline AR			3.550		06/01/42		979
	3,500,000		District of Columbia			3.432		04/01/42		3,767
	15,000,000		District of Columbia Water & Sewer Authority			4.814		10/01/14		22,455
	1,000,000		Grant County Public Utility District No 2			5.470		01/01/34		1,133
	1,250,000		Grant County Public Utility District No 2			4.164		01/01/35		1,495
	22,445,000		Grant County Public Utility District No 2			2.918		01/01/40		23,334
	9,255,000		Grant County Public Utility District No 2			3.210		01/01/40		9,844
	3,230,000		Great Lakes Water Authority Sewage Disposal System Revenue			3.056		07/01/39		3,460
	16,915,000		Great Lakes Water Authority Water Supply System Revenue			3.473		07/01/41		18,432
	1,200,000		Guadalupe Valley Electric Coop, Inc			5.671		10/01/32		1,439
	605,000		Guadalupe-Blanco River Authority Industrial Development Corp			3.287		04/15/23		629
	640,000		Henry County Water Authority			3.000		01/01/43		649
	850,000		Henry County Water Authority			3.200		01/01/49		858
	1,000,000		Honolulu City & County Board of Water Supply			2.327		07/01/32		1,040
	2,000,000		Kern County Water Agency Improvement District No 4			4.276		05/01/36		2,460
	6,430,000		Lavaca-Navidad River Authority			4.430		08/01/35		6,974
	3,300,000		Maryland Community Development Administration Housing Revenue			3.797		03/01/39		3,512
	4,650,000		Massachusetts St. Water Pollution Abatement			5.192		08/01/40		5,686
	10,735,000		Metropolitan Transportation Authority			5.175		11/15/49		11,721
	2,000,000		Michigan Finance Authority			5.000		07/01/31		2,298
	7,400,000		New Jersey Economic Development Authority			5.706		06/15/30		8,817
	3,000,000		New Jersey Economic Development Authority			5.756		06/15/31		3,621
	3,375,000		New Mexico Finance Authority			4.090		06/15/38		3,769
	4,065,000		New York City Housing Development Corp			3.119		08/01/38		4,238
	2,500,000		New York City Housing Development Corp			3.720		11/01/39		2,683
	1,255,000		New York State Environmental Facilities Corp			3.045		06/15/24		1,361
	1,225,000		New York State Environmental Facilities Corp			3.195		06/15/25		1,359
	2,120,000		New York State Environmental Facilities Corp			3.520		07/15/27		2,454
	17,500,000		New York Transportation Development Corp			5.000		01/01/26		19,009
	11,245,000		Ohio State Water Development Authority			4.879		12/01/34		13,484
	13,250,000	†,g,q	Oregon State Business Development Commission			6.500		04/01/31		8,593
	3,470,000	g	Oregon State Business Development Commission			0.000		04/01/37		3,004
	2,500,000		Palm Beach County Solid Waste Authority			2.636		10/01/24		2,688

390

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	5,155,000		Papio-Missouri River Natural Resource District			2.088	%	12/15/24	$	5,443
	4,500,000		Pend Oreille County Public Utility District No Box Canyon			5.000		01/01/30		4,690
	7,250,000	g	Pennsylvania Economic Development Financing Authority			10.000		12/01/29		7,380
	180,000	g	Pennsylvania Economic Development Financing Authority			5.750		06/01/36		176
	1,735,000	g	Public Finance Authority			0.000		06/01/29		1,723
	2,000,000		San Francisco City & County Redevelopment Agency			4.375		08/01/44		2,227
	36,330,000		State of California			3.750		10/01/37		39,006
	11,565,000		State of California			4.600		04/01/38		13,774
	10,050,000		State of California			4.988		04/01/39		10,803
	5,445,000	i	State of California	LIBOR 1 M + 0.780%		0.937		04/01/47		5,442
	8,000,000		State of Illinois			5.000		02/01/22		8,290
	9,000,000		State of Illinois			5.520		04/01/38		9,118
	4,405,000		State of Michigan			3.590		12/01/26		4,687
	2,500,000		State of Ohio			5.412		09/01/28		3,266
	3,370,000		State of Texas			3.726		08/01/43		3,583
	3,000		State of Wisconsin			5.700		05/01/26		4
	1,650,000	g	Syracuse Industrial Development Agency			5.000		01/01/36		1,390
	2,280,000		Tampa Bay Water			2.612		10/01/25		2,399
	3,225,000		Tampa Bay Water			2.782		10/01/26		3,434
	3,000,000		Tampa Bay Water			2.952		10/01/27		3,182
	1,255,000		Texas Water Development Board			4.248		10/15/35		1,420
	5,880,000		Texas Water Development Board			4.340		10/15/48		6,802
	4,170,000		Texas Water Development Board			4.648		04/15/50		4,644
	5,000,000		Tuolumne Wind Project Authority			6.918		01/01/34		6,932
	3,035,000		University of California			3.809		05/15/28		3,563
	11,400,000		University of California			4.009		05/15/30		13,806
	1,000,000		University of Cincinnati			3.250		06/01/29		1,079
	1,560,000		University of Cincinnati			3.650		06/01/34		1,678
	1,615,000		University of Cincinnati			3.700		06/01/35		1,734
	18,000,000		University of New Mexico			3.532		06/20/32		19,708
	500,000		Upper Allegheny Joint Sanitary Authority			3.550		09/01/39		555
	1,500,000		Upper Allegheny Joint Sanitary Authority			3.800		09/01/49		1,617
	5,000,000		Vermont Educational & Health Buildings Financing Agency			4.000		12/01/42		5,318
	3,000,000		Vermont Educational & Health Buildings Financing Agency			4.000		12/01/46		3,173
	1,000,000		Washington County Clean Water Services			5.078		10/01/24		1,169
			TOTAL MUNICIPAL BONDS							576,209
U.S. TREASURY SECURITIES - 2.6%
	6,000,000		United States Treasury Bond			3.125		02/15/43		8,130
	1,000,000		United States Treasury Bond			3.375		05/15/44		1,411
	35,830,000		United States Treasury Bond			2.875		11/15/46		47,356
	2,500,000		United States Treasury Bond			3.000		02/15/49		3,417
	9,350,000		United States Treasury Note			0.125		05/31/22		9,348
	4,150,000		United States Treasury Note			2.000		07/31/22		4,291
	28,535,000		United States Treasury Note			0.125		08/31/22		28,527
	4,500,000		United States Treasury Note			1.750		09/30/22		4,645
	17,154,500		United States Treasury Note			0.125		09/15/23		17,138
	31,765,000		United States Treasury Note			2.875		09/30/23		34,333
	6,100,000		United States Treasury Note			2.625		12/31/23		6,583

391

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	5,000,000		United States Treasury Note			1.500	%	09/30/24	$	5,255
	1,525,000		United States Treasury Note			2.250		10/31/24		1,651
	9,350,000		United States Treasury Note			2.125		11/30/24		10,084
	10,200,000		United States Treasury Note			0.250		09/30/25		10,186
	18,842,000		United States Treasury Note			2.500		02/28/26		21,045
	10,931,000		United States Treasury Note			0.500		08/31/27		10,957
	4,500,000		United States Treasury Note			0.375		09/30/27		4,470
	64,420,000		United States Treasury Note			0.625		08/15/30		64,048
	121,826,000		United States Treasury Note			1.250		05/15/50		115,449
			TOTAL U.S. TREASURY SECURITIES							408,324
			TOTAL GOVERNMENT BONDS							3,198,520
			(Cost $3,050,945)
STRUCTURED ASSETS - 3.4%
ASSET BACKED - 1.3%
	99,904	g	AMSR Trust			1.819		04/17/37		102
			Series - 2020 SFR1 (Class A)
	900,000	g,i	AMSR Trust			3.148		01/19/39		928
			Series - 2019 SFR1 (Class C)
	800,000	g,i	AMSR Trust			3.247		01/19/39		818
			Series - 2019 SFR1 (Class D)
	5,000,000	g,i	AREIT Trust	LIBOR 1 M + 1.020%		1.172		09/14/36		4,926
			Series - 2019 CRE3 (Class A)
	174,850	i	Asset Backed Securities Corp Home Equity Loan Trust	LIBOR 1 M + 0.900%		3.386		08/25/34		172
			Series - 2004 HE5 (Class M1)
	1,500,000	i	Bayview Financial Mortgage Pass-Through Trust	LIBOR 1 M + 0.975%		1.120		02/28/41		1,487
			Series - 2006 A (Class M3)
	90,284	i	Bear Stearns Asset Backed Securities Trust	LIBOR 1 M + 0.670%		0.818		04/25/36		90
			Series - 2006 SD1 (Class M1)
	4,500,000	g,i	BFLD Trust	LIBOR 1 M + 2.100%		2.150		10/15/22		4,500
			Series - 2020 EYP (Class C)
	3,779,102	g	Capital Automotive REIT			3.660		10/15/44		3,790
			Series - 2014 1A (Class A)
	3,754,433	g	Capital Automotive REIT			3.870		04/15/47		3,761
			Series - 2017 1A (Class A1)
	548,784	i	C-BASS Trust	LIBOR 1 M + 0.080%		0.228		07/25/36		524
			Series - 2006 CB6 (Class A1)
	3,900,224	i	Chase Funding Loan Acquisition Trust	LIBOR 1 M + 0.855%		1.003		06/25/34		3,809
			Series - 2004 OPT1 (Class M1)
	325,000	i	Citigroup Mortgage Loan Trust	LIBOR 1 M + 0.750%		0.898		01/25/36		322
			Series - 2006 WFH1 (Class M4)
	217,693	g	Corevest American Finance Trust			1.832		03/15/50		217
			Series - 2020 1 (Class A1)
	1,462,500	g	DB Master Finance LLC			3.629		11/20/47		1,506
			Series - 2017 1A (Class A2I)
	6,904,750	g	Domino’s Pizza Master Issuer LLC			3.082		07/25/47		6,919
			Series - 2017 1A (Class A2II)
	280,501	g,i	Ellington Loan Acquisition Trust	LIBOR 1 M + 1.100%		1.248		05/25/37		280
			Series - 2007 2 (Class A2C)
	6,150,000	†	Freddie Mac Multifamily Variable Rate Certificate			1.761		09/15/38		6,273
			Series - 2020 M061 (Class A)

392

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	4,843,437	g	HERO Funding Trust			3.840	%	09/21/40	$	5,091
			Series - 2015 1A (Class A)
	1,232,700	g	HERO Funding Trust			3.990		09/21/40		1,282
			Series - 2014 2A (Class A)
	2,394,931	g	HERO Funding Trust			3.750		09/20/41		2,479
			Series - 2016 2A (Class A)
	2,300,272	g	HERO Funding Trust			4.050		09/20/41		2,385
			Series - 2016 1A (Class A)
	890,848	g	HERO Funding Trust			3.080		09/20/42		903
			Series - 2016 3A (Class A1)
	38,524	g	HERO Funding Trust			4.500		09/21/42		39
			Series - 2016 1R (Class A1)
	6,199,885	g	HERO Funding Trust			3.710		09/20/47		6,488
			Series - 2017 1A (Class A1)
	6,316,117	g	HERO Funding Trust			3.190		09/20/48		6,508
			Series - 2017 3A (Class A1)
	1,506,550	g	HERO Funding Trust			3.280		09/20/48		1,558
			Series - 2017 2A (Class A1)
	6,998,931	g	HERO Funding Trust			4.670		09/20/48		7,509
			Series - 2018 1A (Class A2)
	28,602	i	Home Equity Asset Trust	LIBOR 1 M + 1.500%		3.986		06/25/33		29
			Series - 2003 1 (Class M1)
	100,000	g,i	Invitation Homes Trust	LIBOR 1 M + 1.450%		1.602		06/17/37		100
			Series - 2018 SFR2 (Class D)
	321,583	g,i	Invitation Homes Trust	LIBOR 1 M + 1.000%		1.151		07/17/37		322
			Series - 2018 SFR3 (Class A)
	1,021,856	g,i	Invitation Homes Trust	LIBOR 1 M + 1.100%		1.251		01/17/38		1,022
			Series - 2018 SFR4 (Class A)
	499,336	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.320%		0.468		03/25/37		490
			Series - 2007 CH3 (Class A1B)
	7,006,734	i	JP Morgan Mortgage Acquisition Trust	LIBOR 1 M + 0.160%		0.308		06/25/37		6,847
			Series - 2007 CH5 (Class A1)
	2,660,710	g	Mosaic Solar Loan Trust			2.100		04/20/46		2,718
			Series - 2020 1A (Class A)
	3,682,233	g	Mosaic Solar Loan Trust			3.100		04/20/46		3,771
			Series - 2020 1A (Class B)
	5,430,476	g	Mosaic Solar Loans LLC			3.820		06/22/43		5,722
			Series - 2017 2A (Class A)
	1,197,771	g	Progress Residential Trust			2.897		12/17/34		1,202
			Series - 2017 SFR2 (Class A)
	650,000	i	RASC Trust	LIBOR 1 M + 0.590%		3.080		08/25/35		648
			Series - 2005 KS8 (Class M4)
	3,571,567	g	Renew			3.670		09/20/52		3,708
			Series - 2017 1A (Class A)
	7,748,691	g	Renew			3.950		09/20/53		8,331
			Series - 2018 1 (Class A)
	215,154	g	Sierra Timeshare Receivables Funding LLC			2.580		09/20/32		215
			Series - 2015 3A (Class A)
	152,232	g	Sierra Timeshare Receivables Funding LLC			3.080		09/20/32		152
			Series - 2015 3A (Class B)
	4,087,799	g	SolarCity LMC			4.590		04/20/44		4,040
			Series - 2014 1 (Class A)
	21,519,105	g	SolarCity LMC			4.020		07/20/44		21,675
			Series - 2014 2 (Class A)

393

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	3,107,454	g	SolarCity LMC			4.800	%	09/20/48	$	3,222
			Series - 2016 A (Class A)
	910,819	g,i	Starwood Waypoint Homes	LIBOR 1 M + 0.950%		1.102		01/17/35		910
			Series - 2017 1 (Class A)
	13,997	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 0.900%		1.048		09/25/34		14
			Series - 2004 8 (Class M1)
	70,066	i	Structured Asset Investment Loan Trust	LIBOR 1 M + 1.000%		1.148		09/25/34		69
			Series - 2004 8 (Class A9)
	1,864,164	i	Structured Asset Securities Corp Mortgage Loan Trust	LIBOR 1 M + 1.500%		1.657		04/25/35		1,825
			Series - 2005 7XS (Class 2A1A)
	2,870,151	g	Sunrun Athena Issuer LLC			5.310		04/30/49		3,134
			Series - 2018 1 (Class A)
	9,563,433	g	Sunrun Atlas Issuer LLC			3.610		02/01/55		10,018
			Series - 2019 2 (Class A)
	11,544,462	g	TES LLC			4.330		10/20/47		11,775
			Series - 2017 1A (Class A)
	2,500,000	g	TES LLC			7.740		10/20/47		2,284
			Series - 2017 1A (Class B)
	7,054,418	g	TES LLC			4.120		02/20/48		7,181
			Series - 2017 2A (Class A)
	1,041,184	g	Tesla Auto Lease Trust			3.710		08/20/21		1,051
			Series - 2018 B (Class A)
	4,125,000	g	Tesla Auto Lease Trust			2.200		11/21/22		4,240
			Series - 2019 A (Class A4)
	1,500,000	g	Tricon American Homes Trust			4.878		11/17/33		1,498
			Series - 2016 SFR1 (Class E)
	1,000,000	g	Tricon American Homes Trust			4.011		09/17/34		1,014
			Series - 2017 SFR1 (Class E)
	1,092,903	g	Tricon American Homes Trust			2.928		01/17/36		1,131
			Series - 2017 SFR2 (Class A)
	200,000	g	Tricon American Homes Trust			3.275		01/17/36		207
			Series - 2017 SFR2 (Class B)
	14,516,802	g	Vivint Colar Financing V LLC			4.730		04/30/48		14,932
			Series - 2018 1A (Class A)
	5,250,000	g	Vivint Solar Financing VII LLC			2.210		07/31/51		5,264
			Series - 2020 1A (Class A)
	1,458,750	g	Wendys Funding LLC			3.573		03/15/48		1,508
			Series - 2018 1A (Class A2I)
			TOTAL ASSET BACKED							206,935
OTHER MORTGAGE BACKED - 2.1%
	668,460	g,i	Agate Bay Mortgage Trust			3.500		11/25/44		692
			Series - 2014 3 (Class A13)
	390,370	g,i	Agate Bay Mortgage Trust			3.500		09/25/45		405
			Series - 2015 6 (Class A9)
	259,702	i	Alternative Loan Trust	LIBOR 1 M + 0.500%		0.648		06/25/34		257
			Series - 2004 8CB (Class M1)
	1,030,095	g,i	Bancorp Commercial Mortgage Trust	LIBOR 1 M + 0.900%		1.052		09/15/35		1,020
			Series - 2018 CRE4 (Class A)
	5,440,000	g,i	BBCMS Mortgage Trust			4.409		08/05/38		3,724
			Series - 2018 CHRS (Class E)
	12,500,000	g	BBCMS Trust			3.593		09/15/32		12,895
			Series - 2015 MSQ (Class A)

394

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	3,600,000	g	BBCMS Trust			3.894	%	09/15/32	$	3,710
			Series - 2015 MSQ (Class B)
	3,000,000	g,i	BBCMS Trust			3.688		02/15/53		3,031
			Series - 2020 C6 (Class F5TA)
	1,000,000		Benchmark Mortgage Trust			3.419		08/15/52		1,118
			Series - 2019 B12 (Class AS)
	8,870,000	g,i	Benchmark Mortgage Trust			4.029		03/15/62		9,161
			Series - 2019 B10 (Class 3CCA)
	2,000,000	i	CD Mortgage Trust			3.879		11/10/49		2,170
			Series - 2016 CD2 (Class B)
	2,000,000	i	Citigroup Commercial Mortgage Trust			4.296		04/10/48		1,976
			Series - 2015 GC29 (Class C)
	4,800,000		Citigroup Commercial Mortgage Trust			3.300		11/10/52		5,326
			Series - 2019 GC43 (Class AS)
	3,115,000		Citigroup Commercial Mortgage Trust			3.018		08/10/56		3,428
			Series - 2019 GC41 (Class AS)
	3,000,000	g,i	Cityline Commercial Mortgage Trust			2.871		11/10/31		3,081
			Series - 2016 CLNE (Class A)
	3,000,000	g	COMM Mortgage Trust			2.681		08/10/29		3,020
			Series - 2016 GCT (Class A)
	2,750,000	g,i	COMM Mortgage Trust			3.527		10/10/29		2,894
			Series - 2017 PANW (Class B)
	3,000,000	g,i	COMM Mortgage Trust			3.712		10/10/29		3,128
			Series - 2017 PANW (Class C)
	5,120,000	g	COMM Mortgage Trust			4.353		08/10/30		5,473
			Series - 2013 300P (Class A1)
	3,500,000	g,i	COMM Mortgage Trust			4.244		03/10/48		3,064
			Series - 2015 CR22 (Class D)
	1,100,000	i	COMM Mortgage Trust			4.435		05/10/48		1,107
			Series - 2015 CR23 (Class C)
	2,000,000	i	COMM Mortgage Trust			4.435		05/10/48		1,729
			Series - 2015 CR23 (Class D)
	2,500,000	i	COMM Mortgage Trust			3.463		08/10/48		2,090
			Series - 2015 CR24 (Class D)
	1,000,000		COMM Mortgage Trust			3.263		08/15/57		1,113
			Series - 2019 GC44 (Class AM)
	2,583,334	i	Connecticut Avenue Securities	LIBOR 1 M + 2.600%		2.748		05/25/24		2,261
			Series - 2014 C02 (Class 1M2)
	6,224,109	i	Connecticut Avenue Securities	LIBOR 1 M + 3.000%		3.148		07/25/24		5,439
			Series - 2014 C03 (Class 1M2)
	1,097,932	i	Connecticut Avenue Securities	LIBOR 1 M + 5.000%		5.148		11/25/24		1,122
			Series - 2014 C04 (Class 2M2)
	283,327	i	Connecticut Avenue Securities	LIBOR 1 M + 5.550%		5.698		04/25/28		291
			Series - 2015 C04 (Class 2M2)
	470,298	i	Connecticut Avenue Securities	LIBOR 1 M + 5.700%		5.848		04/25/28		487
			Series - 2015 C04 (Class 1M2)
	1,286,176	i	Connecticut Avenue Securities	LIBOR 1 M + 6.750%		6.898		08/25/28		1,335
			Series - 2016 C01 (Class 1M2)
	1,169,099	i	Connecticut Avenue Securities	LIBOR 1 M + 6.950%		7.098		08/25/28		1,252
			Series - 2016 C01 (Class 2M2)
	929,274	i	Connecticut Avenue Securities	LIBOR 1 M + 6.000%		6.148		09/25/28		983
			Series - 2016 C02 (Class 1M2)
	1,837,671	i	Connecticut Avenue Securities	LIBOR 1 M + 5.900%		6.048		10/25/28		1,941
			Series - 2016 C03 (Class 2M2)

395

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	3,321,453	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%		4.398	%	01/25/29	$	3,441
			Series - 2016 C04 (Class 1M2)
	2,664,583	i	Connecticut Avenue Securities	LIBOR 1 M + 4.450%		4.598		01/25/29		2,749
			Series - 2016 C05 (Class 2M2)
	1,240,331	i	Connecticut Avenue Securities	LIBOR 1 M + 4.250%		4.398		04/25/29		1,268
			Series - 2016 C06 (Class 1M2)
	851,611	i	Connecticut Avenue Securities	LIBOR 1 M + 2.200%		2.348		01/25/30		856
			Series - 2017 C05 (Class 1M2A)
	584,474	i	Connecticut Avenue Securities	LIBOR 1 M + 2.250%		2.398		07/25/30		577
			Series - 2018 C01 (Class 1M2)
	330,684		Connecticut Avenue Securities	LIBOR 1 M + 2.200%		0.000		08/25/30		320
			Series - 2018 C02 (Class 2M2)
	696,474	i	Connecticut Avenue Securities	LIBOR 1 M + 0.850%		0.998		10/25/30		692
			Series - 2018 C03 (Class 1EA2)
	118,091	i	Connecticut Avenue Securities	LIBOR 1 M + 2.550%		2.698		12/25/30		116
			Series - 2018 C04 (Class 2M2)
	316,613	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.450%		2.598		07/25/31		315
			Series - 2019 R01 (Class 2M2)
	595,093	g,i	Connecticut Avenue Securities	LIBOR 1 M + 0.800%		0.948		01/25/40		593
			Series - 2020 R01 (Class 1M1)
	1,360,000	g,i	Connecticut Avenue Securities	LIBOR 1 M + 2.000%		2.148		01/25/40		1,325
			Series - 2020 R02 (Class 2M2)
	15,000,000	g	CPT Mortgage Trust			2.865		11/13/39		16,328
			Series - 2019 CPT (Class A)
	2,000,000	g,i	CPT Mortgage Trust			3.097		11/13/39		1,884
			Series - 2019 CPT (Class E)
	5,000,000	g,i	Credit Suisse Commercial Mortgage Trust			3.854		11/10/32		5,340
			Series - 2017 CALI (Class B)
	825,000	g,i	Credit Suisse Commercial Mortgage Trust	LIBOR 1 M + 0.650%		0.798		05/25/36		823
			Series - 2006 CF2 (Class M3)
	3,873,361	g,i	Credit Suisse Commercial Mortgage Trust			3.500		02/25/48		4,020
			Series - 2018 J1 (Class A11)
	6,650,000	g,i	CSAIL Commercial Mortgage Trust			3.800		06/15/37		6,789
			Series - 2017 C8 (Class 85BA)
	6,100,000	g,i	CSAIL Commercial Mortgage Trust			3.800		06/15/37		5,726
			Series - 2017 C8 (Class 85BB)
	1,500,000	g,i	DBUBS Mortgage Trust			5.790		11/10/46		1,503
			Series - 2011 LC1A (Class C)
	500,000	g,i	Ellington Financial Mortgage Trust			3.587		06/25/59		500
			Series - 2019 1 (Class M1)
	682,259	i	Fieldstone Mortgage Investment Trust	LIBOR 1 M + 0.735%		0.883		12/25/35		678
			Series - 2005 2 (Class M2)
	2,066,807	g,i	FirstKey Mortgage Trust			3.500		11/25/44		2,132
			Series - 2014 1 (Class A8)
	563,188	g,i	Flagstar Mortgage Trust			4.102		10/25/47		587
			Series - 2017 2 (Class B3)
	488,941	g,i	Flagstar Mortgage Trust			4.000		09/25/48		501
			Series - 2018 5 (Class A11)
	5,000,000	g	GRACE Mortgage Trust			3.369		06/10/28		5,030
			Series - 2014 GRCE (Class A)
	2,000,000	g,i	GS Mortgage Securities Trust	LIBOR 1 M + 1.090%		1.242		10/15/31		1,965
			Series - 2018 HART (Class A)
	3,000,000		GS Mortgage Securities Trust			3.143		10/10/49		3,237
			Series - 2016 GS3 (Class AS)

396

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	830,000	i	GS Mortgage Securities Trust			3.918	%	11/10/49	$	753
			Series - 2016 GS4 (Class C)
	2,000,000	g	GS Mortgage Securities Trust			3.000		02/10/52		1,763
			Series - 2019 GC38 (Class D)
	2,302,595	g,i	GS Mortgage-Backed Securities Corp Trust			3.500		07/25/50		2,338
			Series - 2020 PJ2 (Class A4)
	1,096,099	i	HarborView Mortgage Loan Trust	LIBOR 1 M + 0.620%		0.776		08/19/45		1,056
			Series - 2005 11 (Class 2A1A)
	6,000,000	g	Hudson Yards Mortgage Trust			2.835		08/10/38		6,442
			Series - 2016 10HY (Class A)
	5,000,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		5,291
			Series - 2016 10HY (Class B)
	5,000,000	g,i	Hudson Yards Mortgage Trust			3.076		08/10/38		5,207
			Series - 2016 10HY (Class C)
	7,000,000	g	Hudson Yards Mortgage Trust			3.228		07/10/39		7,837
			Series - 2019 30HY (Class A)
	1,000,000	g,i	Hudson Yards Mortgage Trust			3.041		12/10/41		989
			Series - 2019 55HY (Class D)
	7,000,000	g,i	Hudson Yards Mortgage Trust			3.041		12/10/41		6,537
			Series - 2019 55HY (Class E)
	2,500,000	g,i	Hudson Yards Mortgage Trust			3.041		12/10/41		2,193
			Series - 2019 55HY (Class F)
	234,856	i	Impac CMB Trust	LIBOR 1 M + 0.660%		0.808		03/25/35		229
			Series - 2004 11 (Class 2A1)
	2,800,000		JP Morgan Chase Commercial Mortgage Securities Corp			3.372		12/15/47		2,922
			Series - 2013 C10 (Class AS)
	1,579,095	g,i	JP Morgan Mortgage Trust			2.140		12/25/44		1,604
			Series - 2015 1 (Class B1)
	336,328	g,i	JP Morgan Mortgage Trust			3.500		05/25/45		346
			Series - 2015 3 (Class A19)
	1,349,120	g,i	JP Morgan Mortgage Trust			3.500		10/25/45		1,398
			Series - 2015 6 (Class A13)
	671,918	g,i	JP Morgan Mortgage Trust			3.500		05/25/46		689
			Series - 2016 1 (Class A13)
	85,294	g,i	JP Morgan Mortgage Trust			3.500		01/25/47		88
			Series - 2017 1 (Class A3)
	2,065,130	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		2,092
			Series - 2017 2 (Class A5)
	815,422	g,i	JP Morgan Mortgage Trust			3.500		05/25/47		835
			Series - 2017 2 (Class A13)
	566,648	g,i	JP Morgan Mortgage Trust			3.500		08/25/47		569
			Series - 2017 3 (Class 1A5)
	262,019	g,i	JP Morgan Mortgage Trust			3.500		09/25/48		273
			Series - 2018 3 (Class A13)
	85,893	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		90
			Series - 2018 4 (Class A13)
	344,373	g,i	JP Morgan Mortgage Trust			3.500		10/25/48		360
			Series - 2018 5 (Class A13)
	48,875	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		49
			Series - 2018 8 (Class A5)
	574,700	g,i	JP Morgan Mortgage Trust			4.000		01/25/49		589
			Series - 2018 8 (Class A13)

397

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	1,255,989	g,i	JP Morgan Mortgage Trust			4.000	%	02/25/49	$	1,287
			Series - 2018 9 (Class A13)
	170,793	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		176
			Series - 2019 1 (Class A3)
	1,289,883	g,i	JP Morgan Mortgage Trust			4.000		05/25/49		1,323
			Series - 2019 1 (Class A15)
	5,108	g,i	JP Morgan Mortgage Trust			4.000		08/25/49		5
			Series - 2019 2 (Class A4)
	141,269	g,i	JP Morgan Mortgage Trust			4.781		09/25/49		151
			Series - 2019 3 (Class B1)
	2,628,107	g,i	JP Morgan Mortgage Trust	LIBOR 1 M + 0.950%		1.098		10/25/49		2,625
			Series - 2019 INV1 (Class A11)
	1,662,703	g,i	JP Morgan Mortgage Trust			3.877		06/25/50		1,751
			Series - 2020 1 (Class B2)
	10,000,000	g	Liberty Street Trust			3.597		02/10/36		10,979
			Series - 2016 225L (Class A)
	4,000,000	g,i	MAD Mortgage Trust			3.294		08/15/34		4,153
			Series - 2017 330M (Class A)
	4,000,000	g,i	MAD Mortgage Trust			3.478		08/15/34		4,119
			Series - 2017 330M (Class B)
	3,000,000	g,i	Manhattan West			2.413		09/10/39		2,991
			Series - 2020 1MW (Class C)
	545,391	i	Morgan Stanley Capital I Trust	LIBOR 1 M + 0.825%		0.973		08/25/34		542
			Series - 2004 HE6 (Class M1)
	2,000,000	g,i	Morgan Stanley Capital I Trust			5.675		09/15/47		2,006
			Series - 2011 C1 (Class D)
	213,332	†,i	Morgan Stanley Capital I Trust			6.467		12/12/49		127
			Series - 2007 IQ16 (Class AJFX)
	3,000,000	g,i	MSDB Trust			3.427		07/11/39		3,212
			Series - 2017 712F (Class A)
	15,780,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 0.784%		0.936		07/15/33		15,507
			Series - 2018 850T (Class A)
	5,750,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 1.500%		1.652		07/15/36		5,693
			Series - 2019 MILE (Class A)
	9,000,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 3.500%		3.652		07/15/36		8,441
			Series - 2019 MILE (Class E)
	1,750,000	g,i	Natixis Commercial Mortgage Securities Trust	LIBOR 1 M + 4.250%		4.402		07/15/36		1,612
			Series - 2019 MILE (Class F)
	109,953	i	New York Mortgage Trust	LIBOR 1 M + 0.480%		0.628		02/25/36		107
			Series - 2005 3 (Class A1)
	741,386	g,i	OBX Trust	LIBOR 1 M + 0.650%		0.798		06/25/57		740
			Series - 2018 1 (Class A2)
	742,072	g,i	OBX Trust	LIBOR 1 M + 0.750%		0.898		07/25/58		739
			Series - 2018 EXP2 (Class 2A1A)
	11,800,000	g	One Bryant Park Trust			2.516		09/15/54		12,548
			Series - 2019 OBP (Class A)
	3,900,000	g	One Market Plaza Trust			3.614		02/10/32		4,036
			Series - 2017 1MKT (Class A)
	1,441,836	g,i	Sequoia Mortgage Trust			3.500		05/25/45		1,492
			Series - 2015 2 (Class A1)
	627,263	g,i	Sequoia Mortgage Trust			3.500		06/25/46		651
			Series - 2016 1 (Class A19)
	229,623	g,i	Sequoia Mortgage Trust			3.500		11/25/46		234
			Series - 2016 3 (Class A10)

398

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	1,617,946	g,i	Sequoia Mortgage Trust			3.500	%	04/25/47	$	1,680
			Series - 2017 3 (Class A19)
	718,757	g,i	Sequoia Mortgage Trust			3.743		09/25/47		760
			Series - 2017 6 (Class B1)
	540,202	g,i	Sequoia Mortgage Trust			3.500		02/25/48		556
			Series - 2018 2 (Class A1)
	432,161	g,i	Sequoia Mortgage Trust			3.500		02/25/48		442
			Series - 2018 2 (Class A19)
	107,409	g,i	Sequoia Mortgage Trust			3.500		03/25/48		108
			Series - 2018 3 (Class A4)
	64,548	g,i	Sequoia Mortgage Trust			4.000		09/25/48		65
			Series - 2018 7 (Class A4)
	102,510	g,i	Sequoia Mortgage Trust			4.000		09/25/48		104
			Series - 2018 7 (Class A19)
	32,059	g,i	Sequoia Mortgage Trust			4.000		11/25/48		32
			Series - 2018 8 (Class A19)
	1,762,855	g,i	Sequoia Mortgage Trust			4.000		06/25/49		1,798
			Series - 2019 2 (Class A1)
	427,255	g,i	Sequoia Mortgage Trust			4.000		06/25/49		433
			Series - 2019 2 (Class A19)
	1,466,633	g,i	Sequoia Mortgage Trust			3.500		11/25/49		1,513
			Series - 2019 4 (Class A1)
	1,350,539	g,i	Sequoia Mortgage Trust			3.500		12/25/49		1,387
			Series - 2019 5 (Class A1)
	754,713	g,i	Sequoia Mortgage Trust			3.500		12/25/49		766
			Series - 2019 5 (Class A19)
	2,362,922	g,i	Sequoia Mortgage Trust			3.000		04/25/50		2,417
			Series - 2020 3 (Class A19)
	260,665	g,i	Shellpoint Co-Originator Trust			3.500		11/25/46		264
			Series - 2016 1 (Class 1A10)
	1,957,067	g,i	Shellpoint Co-Originator Trust			3.500		10/25/47		2,008
			Series - 2017 2 (Class A1)
	149,311	i	Structured Agency Credit Risk Debt Note (STACR)	LIBOR 1 M + 4.150%		4.298		01/25/25		150
			Series - 2015 DN1 (Class M3)
	161,512	i	STACR	LIBOR 1 M + 3.800%		3.948		03/25/25		162
			Series - 2015 HQ1 (Class M3)
	142,062	i	STACR	LIBOR 1 M + 1.350%		1.498		03/25/29		142
			Series - 2016 HQA3 (Class M2)
	339,767	i	STACR	LIBOR 1 M + 3.250%		3.398		07/25/29		348
			Series - 2017 DNA1 (Class M2)
	500,380	i	STACR	LIBOR 1 M + 1.200%		1.348		10/25/29		500
			Series - 2017 DNA2 (Class M1)
	1,471,531	i	STACR	LIBOR 1 M + 2.300%		2.472		08/25/30		1,447
			Series - 2018 HQA1 (Class M2)
	44,323	g,i	STACR			3.721		02/25/48		45
			Series - 2018 SPI1 (Class M1)
	2,911,213	g,i	STACR			4.473		11/25/48		2,894
			Series - 2018 SPI4 (Class M2)
	2,323,848	g,i	STACR	LIBOR 1 M + 2.050%		2.198		11/25/49		2,293
			Series - 2019 HQA4 (Class M2)
	620,000	g,i	STACR	LIBOR 1 M + 1.700%		1.848		12/25/49		606
			Series - 2020 DNA1 (Class M2)
	670,000	g,i	STACR	LIBOR 1 M + 1.850%		1.998		02/25/50		652
			Series - 2020 DNA2 (Class M2)

399

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				REFERENCE				MATURITY	VALUE
PRINCIPAL			ISSUER	RATE & SPREAD	RATE			DATE	(000)
$	2,620,000	g,i	STACR	LIBOR 1 M + 3.100%		3.248	%	03/25/50	$	2,581
			Series - 2020 HQA2 (Class M2)
	475,000	g	Tricon American Homes			2.049		07/17/38		484
			Series - 2020 SFR1 (Class B)
	1,030,000		Wells Fargo Commercial Mortgage Trust			3.539		10/15/45		1,070
			Series - 2012 LC5 (Class AS)
	710,318	g,i	Wells Fargo Mortgage Backed Securities Trust			4.000		04/25/49		720
			Series - 2019 2 (Class A17)
			TOTAL OTHER MORTGAGE BACKED							328,231
			TOTAL STRUCTURED ASSETS							535,166
			(Cost $526,722)
			TOTAL BONDS							6,306,793
			(Cost $6,007,704)

SHARES			COMPANY
COMMON STOCKS - 58.1%
AUTOMOBILES & COMPONENTS - 1.3%
	70,467		Aptiv plc	6,460
	172,427		Bayerische Motoren Werke AG.	12,514
	64,152		Bayerische Motoren Werke AG. (Preference)	3,506
	14,525		BorgWarner, Inc	563
	187,282		Denso Corp	8,209
	609,480		Honda Motor Co Ltd	14,474
	105,512		Magna International, Inc	4,828
	56,903		Michelin (C.G.D.E.) (Class B)	6,108
	544,409	e	Peugeot S.A.	9,873
	109,789	g	Pirelli & C S.p.A	471
	193,172		Renault S.A.	5,011
	31,000		Stanley Electric Co Ltd	893
	97,152	*	Tenneco, Inc	674
	216,528	*	Tesla, Inc	92,893
	518,100		Toyota Motor Corp	34,386
	48,647		Valeo S.A.	1,494
			TOTAL AUTOMOBILES & COMPONENTS	202,357
BANKS - 2.3%
	5,340		Ameris Bancorp	122
	41,566		Associated Banc-Corp	525
	791,762		Australia & New Zealand Banking Group Ltd	9,878
	2,678,905		Banco Bilbao Vizcaya Argentaria S.A.	7,436
	1,285,108		Bank Hapoalim Ltd	6,866
	180,938		Bank of Montreal	10,577
	181,610		Bank of Nova Scotia	7,545
	60,679		Bank OZK	1,294
	2,405		Banner Corp	78
	63,159		Berkshire Hills Bancorp, Inc	639
	3,600,000		BOC Hong Kong Holdings Ltd	9,544
	16,180		Brookline Bancorp, Inc	140
	13,829		Bryn Mawr Bank Corp	344

400

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	10,067		Cadence BanCorp	$	87
	2,629,194		CaixaBank S.A.		5,582
	9,574		Camden National Corp		289
	79,444		Canadian Imperial Bank of Commerce		5,938
	568,946		Citizens Financial Group, Inc		14,383
	2,120		Columbia Banking System, Inc		51
	132,564		Comerica, Inc		5,071
	712		Commerce Bancshares, Inc		40
	479,554		Commonwealth Bank of Australia		22,067
	889		Community Trust Bancorp, Inc		25
	4,937		Cullen/Frost Bankers, Inc		316
	58,867	*	Customers Bancorp, Inc		659
	750,793		DBS Group Holdings Ltd		11,038
	15,927		Federal Agricultural Mortgage Corp (FAMC)		1,014
	55,640		First Republic Bank		6,068
	2,590		Glacier Bancorp, Inc		83
	68,668		Great Western Bancorp, Inc		855
	5,441		Hancock Whitney Corp		102
	658,200		Hang Seng Bank Ltd		9,751
	45,083		Hanmi Financial Corp		370
	13,555		Heartland Financial USA, Inc		407
	8,039		Heritage Financial Corp		148
	24,702		HomeStreet, Inc		636
	21,937		HomeTrust Bancshares, Inc		298
	356,223		Huntington Bancshares, Inc		3,267
	1,751,581		ING Groep NV		12,501
	6,870,509		Intesa Sanpaolo S.p.A.		12,926
	139,026		Investors Bancorp, Inc		1,009
	122,862		KBC Groep NV		6,161
	115,824		Kearny Financial Corp		835
	272,207		Keycorp		3,247
	22,925		Live Oak Bancshares, Inc		581
	99,684		M&T Bank Corp		9,180
	12,050		MGIC Investment Corp		107
	8,047	*	Mr Cooper Group, Inc		180
	1,139,508		National Australia Bank Ltd		14,639
	35,858		National Bank Holdings Corp		941
	3,324		NBT Bancorp, Inc		89
	569,825		New York Community Bancorp, Inc		4,712
	34,949		Northfield Bancorp, Inc		319
	9,051		Old National Bancorp		114
	189,303		People’s United Financial, Inc		1,952
	57,846		Pinnacle Financial Partners, Inc		2,059
	316,198		PNC Financial Services Group, Inc		34,753
	827,955		Regions Financial Corp		9,546
	2,027,100		Resona Holdings, Inc		6,906
	4,704		Signature Bank		390
	1,005,063		Skandinaviska Enskilda Banken AB (Class A)		8,927
	63,425		Societe Generale		842
	1,762,556		Standard Chartered plc		8,111
	17,395		Sterling Bancorp		183
	8,646		Stock Yards Bancorp, Inc		294
	248,200		Sumitomo Mitsui Trust Holdings, Inc		6,603
	23,733	*	SVB Financial Group		5,711

401

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	886,765		Svenska Handelsbanken AB	$	7,419
	3,121	*	Texas Capital Bancshares, Inc		97
	6,965		TFS Financial Corp		102
	26,551	*	The Bancorp, Inc		229
	475,503		Toronto-Dominion Bank		22,016
	7,365		Trico Bancshares		180
	33,943	*	Tristate Capital Holdings, Inc		449
	626,933		Truist Financial Corp		23,855
	1,700		Trustmark Corp		36
	5,827		Umpqua Holdings Corp		62
	12,481		Univest Financial Corp		179
	5,960		Webster Financial Corp		157
	30,378		WesBanco, Inc		649
	3,019		Westamerica Bancorporation		164
	979,242		Westpac Banking Corp		11,907
	1,110		Wintrust Financial Corp		44
	1,706		WSFS Financial Corp		46
	69,930		Zions Bancorporation		2,043
			TOTAL BANKS		366,985
CAPITAL GOODS - 3.6%
	259,918		3M Co		41,634
	790		Acuity Brands, Inc		81
	10,485	*	Aegion Corp		148
	142,033		Assa Abloy AB		3,321
	47,888	*	Astronics Corp		370
	212,409		Atlas Copco AB (A Shares)		10,127
	202,746		Atlas Copco AB (B Shares)		8,461
	102,716	*	Axon Enterprise, Inc		9,316
	57,355		Barnes Group, Inc		2,050
	2,120	*	Beacon Roofing Supply, Inc		66
	172,413	*,e	Bloom Energy Corp		3,098
	46,560		Bouygues S.A.		1,609
	38,706		Brenntag AG.		2,461
	308,152		CAE, Inc		4,508
	21,582		Carlisle Cos, Inc		2,641
	227,727		Caterpillar, Inc		33,966
	919,426		CNH Industrial NV		7,111
	106,312		Compagnie de Saint-Gobain		4,453
	50,690		Cubic Corp		2,949
	44,323		Cummins, Inc		9,359
	90,060		Curtiss-Wright Corp		8,399
	25,000		Daifuku Co Ltd		2,523
	89,000		Daikin Industries Ltd		16,445
	92,545		DCC plc		7,164
	122,204		Deere & Co		27,084
	210,063		Eaton Corp		21,433
	2,820		EMCOR Group, Inc		191
	146,161		Fastenal Co		6,590
	125,694		Ferguson plc		12,649
	122,652		Fortive Corp		9,347
	15,340	*	Herc Holdings, Inc		608
	173,054		Hexcel Corp		5,806
	97,900	*,e	Hitachi Construction Machinery Co Ltd		3,548

402

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	24,226		Hochtief AG.	$	1,881
	386		IDEX Corp		70
	196,628		Illinois Tool Works, Inc		37,991
	392,308		Johnson Controls International plc		16,026
	303,500		Kajima Corp		3,657
	159,700	e	Kawasaki Heavy Industries Ltd		2,157
	1,335,270		Keppel Corp Ltd		4,374
	417,800		Komatsu Ltd		9,176
	576,200		Kubota Corp		10,324
	14,151		Legrand S.A.		1,127
	86		Lennox International, Inc		23
	209,475		Masco Corp		11,548
	111,657	*	Mercury Systems, Inc		8,649
	605,300		Mitsubishi Corp		14,488
	29,641		Moog, Inc (Class A)		1,883
	52,945		MTU Aero Engines Holding AG.		8,777
	6,318	*	MYR Group, Inc		235
	333,800		Obayashi Corp		3,047
	5,749		Owens Corning, Inc		396
	77,193		PACCAR, Inc		6,583
	58,907		Parker-Hannifin Corp		11,919
	30,284	*,e	Plug Power, Inc		406
	46,658		Rockwell Automation, Inc		10,297
	45,859		Roper Technologies Inc		18,119
	4,385		Rush Enterprises, Inc (Class A)		222
	256,074		Sandvik AB		5,008
	169,337		Schneider Electric S.A.		21,048
	386,200		Shimizu Corp		2,907
	200,669		Siemens AG.		25,342
	11,700		Snap-On, Inc		1,721
	676		Stanley Black & Decker, Inc		110
	37,389	*	Sunrun, Inc		2,882
	45,760	*	Teledyne Technologies, Inc		14,195
	85,923		Trane Technologies plc		10,418
	20,355	*	Trimas Corp		464
	37,581	*	United Rentals, Inc		6,558
	6,185	*	Vectrus, Inc		235
	21,255		Vestas Wind Systems AS		3,435
	697,108		Volvo AB (B Shares)		13,391
	16,345		W.W. Grainger, Inc		5,831
	9,535	e	Wabash National Corp		114
	350,496	e	Wartsila Oyj (B Shares)		2,753
	3,684	*	WESCO International, Inc		162
	44,860		Woodward Inc		3,596
	12,800		WSP Global, Inc		841
	45,944		Xylem, Inc		3,865
			TOTAL CAPITAL GOODS		577,767
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
	2,604		ABM Industries, Inc		95
	20,398		ACCO Brands Corp		118
	25,543		Adecco S.A.		1,348
	1,000	*	ASGN Inc		64
	1,175		Brambles Ltd		9

403

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	17,055		Cintas Corp	$	5,676
	168,457	*	Copart, Inc		17,715
	14,671	*	FTI Consulting, Inc		1,555
	7,701		Heidrick & Struggles International, Inc		151
	6,731	*	Huron Consulting Group, Inc		265
	5,731		ICF International, Inc		353
	322,563		IHS Markit Ltd		25,324
	125,772		Intertek Group plc		10,263
	47,960		Kelly Services, Inc (Class A)		817
	81,863		Nielsen NV		1,161
	37,666		Randstad Holdings NV		1,964
	400,300		Recruit Holdings Co Ltd		15,898
	710,114		RELX plc (London)		15,806
	21,731		Resources Connection, Inc		251
	65,713		Robert Half International, Inc		3,479
	1,100		Secom Co Ltd		101
	10,426		Seek Ltd		161
	3,476		SGS S.A.		9,315
	6,612		Teleperformance		2,038
	146,347		TransUnion		12,312
	1,668	*	TriNet Group, Inc		99
	18,673		Verisk Analytics, Inc		3,460
	42,474		Viad Corp		885
	178,203		Waste Management, Inc		20,167
	29,805		Wolters Kluwer NV		2,542
			TOTAL COMMERCIAL & PROFESSIONAL SERVICES		153,392
CONSUMER DURABLES & APPAREL - 1.2%
	51,093		Adidas-Salomon AG.		16,500
	540,582		Barratt Developments plc		3,315
	48,830		Berkeley Group Holdings plc		2,662
	92,878		Burberry Group plc		1,862
	17,548		Callaway Golf Co		336
	60,316		DR Horton, Inc		4,562
	94,209		Essilor International S.A.		12,825
	39,949		Ethan Allen Interiors, Inc		541
	2,666	*	Garmin Ltd		253
	804		Hasbro, Inc		66
	28,990	*,e	iRobot Corp		2,200
	40,139		Lennar Corp (Class A)		3,279
	33,471	*	Lululemon Athletica, Inc		11,024
	21,383	*	Mohawk Industries, Inc		2,087
	10,439		Newell Brands Inc		179
	479,509		Nike, Inc (Class B)		60,198
	2,585	*	NVR, Inc		10,555
	990,000		Panasonic Corp		8,433
	21,332		Pandora AS		1,539
	4,852		Puma AG. Rudolf Dassler Sport		436
	448		PVH Corp		27
	5,792		SEB S.A.		942
	296,900		Sekisui House Ltd		5,261
	237,100		Sharp Corp		2,949
	164,883	*	Sonos, Inc		2,503
	346,600		Sony Corp		26,564

404

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	1,162,041		Taylor Wimpey plc	$	1,625
	73,111		VF Corp		5,136
			TOTAL CONSUMER DURABLES & APPAREL		187,859
CONSUMER SERVICES - 1.3%
	138,079		Accor S.A.		3,865
	33,403	*	American Public Education, Inc		942
	40,694	*	Bright Horizons Family Solutions		6,187
	31,423		Carriage Services, Inc		701
	3,016	*	Chipotle Mexican Grill, Inc (Class A)		3,751
	824,091		Compass Group plc		12,379
	44,456		Darden Restaurants, Inc		4,478
	96,192	e	Dave & Buster’s Entertainment, Inc		1,458
	29,108		Domino’s Pizza, Inc		12,379
	3,927		Dunkin Brands Group, Inc		322
	43,553	*	El Pollo Loco Holdings, Inc		706
	16,104	*	frontdoor, Inc		627
	8,855		Graham Holdings Co		3,578
	289,355		Hilton Worldwide Holdings, Inc		24,688
	176,045		InterContinental Hotels Group plc		9,241
	21,377		Marriott Vacations Worldwide Corp		1,941
	65,700	e	Oriental Land Co Ltd		9,214
	34,149	*	Planet Fitness, Inc		2,104
	56,379	*,e	Regis Corp		346
	255,963		Royal Caribbean Cruises Ltd		16,568
	97,348		Service Corp International		4,106
	2,305	*,e	Shake Shack, Inc		149
	89,687		Six Flags Entertainment Corp		1,821
	550,612		Starbucks Corp		47,309
	106,971	*	Terminix Global Holdings, Inc		4,266
	23,805		Vail Resorts, Inc		5,094
	92,318		Wendy’s		2,058
	105,535		Whitbread plc		2,883
	30,692	*	WW International Inc		579
	199,385		Yum! Brands, Inc		18,204
			TOTAL CONSUMER SERVICES		201,944
DIVERSIFIED FINANCIALS - 3.0%
	760,189		3i Group plc		9,762
	119,166		Ally Financial, Inc		2,988
	312,172		American Express Co		31,295
	2,187		Ameriprise Financial, Inc		337
	1,340,182		AMP Ltd		1,262
	67,417	g	Amundi S.A.		4,752
	24,514		Annaly Capital Management, Inc		175
	615,029		Bank of New York Mellon Corp		21,120
	60,935		BlackRock, Inc		34,340
	3,313		Blackstone Group, Inc		173
	474,699	e	Brookfield Asset Management, Inc		15,707
	522,118		Charles Schwab Corp		18,916
	155,391		CME Group, Inc		25,999
	47,319		Deutsche Boerse AG.		8,296
	431,895		Discover Financial Services		24,955
	29,186		E*TRADE Financial Corp		1,461

405

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	1,832		Equitable Holdings, Inc	$	33
	42,522		Eurazeo		2,302
	11,159		Factset Research Systems, Inc		3,737
	115,174		Franklin Resources, Inc		2,344
	12,011	*	Green Dot Corp		608
	404,146		Hong Kong Exchanges and Clearing Ltd		19,025
	407,823		Intercontinental Exchange Group, Inc		40,803
	48,473		Invesco Ltd		553
	82,543		Kinnevik AB		3,350
	131,920		London Stock Exchange Group plc		15,133
	147,667		Macquarie Group Ltd		12,800
	22,880		MarketAxess Holdings, Inc		11,019
	454,800		Mitsubishi UFJ Lease & Finance Co Ltd		2,113
	81,875		Moody’s Corp		23,732
	786,678		Morgan Stanley		38,036
	27,645		Nasdaq Inc		3,392
	1,071,999		Natixis		2,409
	12,048	*,†	NewStar Financial, Inc		3
	145,674		Northern Trust Corp		11,358
	3,573	*	PRA Group, Inc		143
	243,634		Redwood Trust, Inc		1,832
	131,229		S&P Global, Inc		47,321
	139,030		Schroders plc		4,829
	2,147,611		Standard Life Aberdeen plc		6,254
	152,236		State Street Corp		9,032
	33,024		T Rowe Price Group, Inc		4,234
	1,360,287		UBS Group AG		15,198
	26,721		Voya Financial, Inc		1,281
	26,666		Wendel		2,419
			TOTAL DIVERSIFIED FINANCIALS		486,831
ENERGY - 1.5%
	503,603		Antero Midstream Corp		2,704
	203,823		Apache Corp		1,930
	280,799		Baker Hughes Co		3,732
	1,172,364		Cenovus Energy, Inc (Toronto)		4,570
	3,725	*	ChampionX Corp		30
	162,624	*	Cheniere Energy, Inc		7,525
	502,292		Chevron Corp		36,165
	17,352		Cimarex Energy Co		422
	575,460		ConocoPhillips		18,898
	4,244		Delek US Holdings, Inc		47
	518,980		Enbridge, Inc (Toronto)		15,161
	1,368,701		ENI S.p.A.		10,698
	255,497		EQT Corp		3,304
	718,937	*	Equinor ASA		10,186
	504,797		Galp Energia SGPS S.A.		4,682
	342,641	*	Gulfport Energy Corp		181
	306,792	*	Helix Energy Solutions Group, Inc		739
	118,879		Hess Corp		4,866
	257,586		Inpex Holdings, Inc		1,382
	1,163,410		Kinder Morgan, Inc		14,345
	6,109		Koninklijke Vopak NV		344
	840,835		Kosmos Energy Ltd		820

406

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	1,649,839		Marathon Oil Corp	$	6,748
	28,451	*	Matrix Service Co		238
	11,094		National Oilwell Varco, Inc		100
	231,682		Neste Oil Oyj		12,200
	198,348		Noble Energy, Inc		1,696
	5,830	*	Oceaneering International, Inc		21
	166,551		OMV AG.		4,557
	26,109		ONEOK, Inc		678
	262,045		Parsley Energy, Inc		2,453
	1,044,025		Repsol YPF S.A.		7,053
	607,389		Schlumberger Ltd		9,451
	45,616	*	Select Energy Services, Inc		175
	902,299	*	Southwestern Energy Co		2,120
	798,336		Suncor Energy, Inc		9,749
	7,252		Tenaris S.A.		36
	684,109	*,e	Total S.A.		23,494
	247,229		Valero Energy Corp		10,710
	309,872		Williams Cos, Inc		6,089
	966		Woodside Petroleum Ltd		12
			TOTAL ENERGY		240,311
FOOD & STAPLES RETAILING - 0.5%
	293,800		Aeon Co Ltd		7,903
	232,229		Alimentation Couche Tard, Inc		8,087
	86,085		Carrefour S.A.		1,376
	64,229		Casey’s General Stores, Inc		11,410
	46,387	*	Chefs’ Warehouse Holdings, Inc		674
	13,275		Coles Group Ltd		162
	63,518		George Weston Ltd		4,670
	1,559	e	ICA Gruppen AB		79
	1,769,105		J Sainsbury plc		4,356
	1,474		Jeronimo Martins SGPS S.A.		24
	69,400		Kobe Bussan Co Ltd		3,822
	800		Lawson, Inc		38
	138,558		Loblaw Cos Ltd		7,256
	89,365		Metro Wholesale & Food Specialist AG.		890
	15,404	*	Performance Food Group Co		533
	45,309		Pricesmart, Inc		3,011
	72,150		SpartanNash Co		1,180
	244,621	*	Sprouts Farmers Market, Inc		5,120
	4,508,344		Tesco plc		12,368
	111,709	*	United Natural Foods, Inc		1,661
	300,204	*	US Foods Holding Corp		6,671
	18,123	e	Weis Markets, Inc		870
	1,600		Welcia Holdings Co Ltd		70
	1,824,513		WM Morrison Supermarkets plc		4,005
			TOTAL FOOD & STAPLES RETAILING		86,236
FOOD, BEVERAGE & TOBACCO - 2.4%
	364,500		Ajinomoto Co, Inc		7,470
	246,023		Associated British Foods plc		5,923
	3,375		Barry Callebaut AG.		7,517
	56,709	*,e	Beyond Meat, Inc		9,417
	1,758		Bunge Ltd		80

407

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	95,554		Campbell Soup Co	$	4,622
	423,452		Coca-Cola Amatil Ltd		2,899
	1,276,813		Coca-Cola Co		63,036
	228,882		Coca-Cola European Partners plc (Class A)		8,883
	225,309		Coca-Cola HBC AG.		5,564
	238,798		Danone		15,468
	64,024		Fresh Del Monte Produce, Inc		1,467
	448,424		General Mills, Inc		27,659
	2,360	*	Hain Celestial Group, Inc		81
	257,018		Hormel Foods Corp		12,566
	163,208		Kellogg Co		10,542
	92,734		Kerry Group plc (Class A)		11,878
	146,000	e	Kikkoman Corp		8,099
	44,589		McCormick & Co, Inc		8,655
	88,600		MEIJI Holdings Co Ltd		6,768
	113,527	e	Mowi ASA		2,020
	621,268		Nestle S.A.		73,938
	29,600		Nissin Food Products Co Ltd		2,781
	302,914		Orkla ASA		3,057
	482,810		PepsiCo, Inc		66,917
	141,100		Suntory Beverage & Food Ltd		5,299
	9,964	*	TreeHouse Foods, Inc		404
	73,000		Yakult Honsha Co Ltd		4,053
			TOTAL FOOD, BEVERAGE & TOBACCO		377,063
HEALTH CARE EQUIPMENT & SERVICES - 3.3%
	44,639	*	Abiomed, Inc		12,368
	219,862		Alcon, Inc		12,465
	210,300		Alfresa Holdings Corp		4,606
	52,088	*	Align Technology, Inc		17,052
	337,069	*	Allscripts Healthcare Solutions, Inc		2,744
	83,449	*	Angiodynamics, Inc		1,006
	224,873	*	Antares Pharma, Inc		607
	32,319	*	AtriCure, Inc		1,290
	1,820	*,e	Axonics Modulation Technologies, Inc		93
	49,240		Becton Dickinson & Co		11,457
	2,533	*	BioTelemetry, Inc		115
	176,296		Cardinal Health, Inc		8,277
	27,564	*	Cardiovascular Systems, Inc		1,085
	431,495	*	Centene Corp		25,169
	381,443		Cerner Corp		27,575
	291,182	*	Cerus Corp		1,823
	84,730		Cigna Corp		14,354
	6,294		Cochlear Ltd		899
	50,637		Coloplast AS		8,025
	22,324	e	Computer Programs & Systems, Inc		616
	42,519		Cooper Cos, Inc		14,334
	104,814	*	Covetrus, Inc		2,557
	424,885		CVS Health Corp		24,813
	214,635		Dentsply Sirona, Inc		9,386
	38,381	*	DexCom, Inc		15,822
	435,221	*	Edwards Lifesciences Corp		34,739
	171,333	*	Envista Holdings Corp		4,228
	354,316		Fisher & Paykel Healthcare Corp		7,820

408

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	140,876	*	GenMark Diagnostics, Inc	$	2,000
	15,806	*,e	Glaukos Corp		783
	59,997	*	Globus Medical, Inc		2,971
	81,349		GN Store Nord		6,129
	11,735	*	Guardant Health, Inc		1,312
	9,550	*	Haemonetics Corp		833
	129,977		HCA Healthcare, Inc		16,206
	66,730	*,e	Health Catalyst, Inc		2,442
	29,203	*	Henry Schein, Inc		1,717
	14,207	*,e	Heska Corp		1,403
	29,655		Hill-Rom Holdings, Inc		2,476
	71,024	*	HMS Holdings Corp		1,701
	116,719	*	Hologic, Inc		7,758
	102,686		Humana, Inc		42,501
	60,960	*	IDEXX Laboratories, Inc		23,964
	8,609	*	Inogen, Inc		250
	350	*	Insulet Corp		83
	23,129	*	Integer Holding Corp		1,365
	46,958	*	Laboratory Corp of America Holdings		8,841
	27,738		LeMaitre Vascular, Inc		902
	9,373	*	LivaNova plc		424
	18,827	*	Livongo Health, Inc		2,637
	86,229	*	Meridian Bioscience, Inc		1,464
	109,957	*	Merit Medical Systems, Inc		4,783
	116,928	*	NextGen Healthcare, Inc		1,490
	44,805	*	Omnicell, Inc		3,345
	119,916	*	OraSure Technologies, Inc		1,459
	37,581	*	Orthofix Medical Inc		1,170
	40,671		Owens & Minor, Inc		1,021
	16,003	*	Penumbra, Inc		3,111
	2,830		Premier, Inc		93
	3,235	*	Providence Service Corp		301
	29,279		Quest Diagnostics, Inc		3,352
	77,401	*	Quidel Corp		16,980
	139,991		Ramsay Health Care Ltd		6,675
	84,284		Resmed, Inc		14,449
	282,183		Ryman Healthcare Ltd		2,651
	27,622		Sartorius AG.		11,322
	12,083		Sonic Healthcare Ltd		287
	44,534		Sonova Holdings AG		11,286
	50,171	*	Staar Surgical Co		2,838
	34,603		STERIS plc		6,097
	79,600		Sysmex Corp		7,616
	34,744	*	Tactile Systems Technology, Inc		1,271
	27,610	*	Tandem Diabetes Care, Inc		3,134
	39,404	*,e	Teladoc, Inc		8,639
	6,735	*,e	Triple-S Management Corp (Class B)		120
	39,409	*	Varian Medical Systems, Inc		6,778
	64,103	*,e	Vocera Communications, Inc		1,864
	45,997		West Pharmaceutical Services, Inc		12,645
			TOTAL HEALTH CARE EQUIPMENT & SERVICES		530,264
HOUSEHOLD & PERSONAL PRODUCTS - 1.6%
	32,966		Beiersdorf AG.		3,743

409

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	87,163		Clorox Co	$	18,319
	319,445		Colgate-Palmolive Co		24,645
	367,053	e	Essity AB		12,392
	83,201		Estee Lauder Cos (Class A)		18,159
	100,862		Henkel KGaA		9,433
	37,753		Henkel KGaA (Preference)		3,948
	172,500		Kao Corp		12,950
	67,915		Kimberly-Clark Corp		10,028
	23,200		Kobayashi Pharmaceutical Co Ltd		2,242
	10,600		Kose Corp		1,298
	92,800	e	Lion Corp		1,905
	71,308		L’Oreal S.A.		23,206
	702,117		Procter & Gamble Co		97,587
	201,500		Shiseido Co Ltd		11,665
	218,100		Uni-Charm Corp		9,754
			TOTAL HOUSEHOLD & PERSONAL PRODUCTS		261,274
INSURANCE - 2.0%
	2,021,547		Aegon NV		5,232
	336,054		Aflac, Inc		12,216
	118,089		Allianz AG.		22,665
	118,177		Allstate Corp		11,125
	77,267		Aon plc		15,940
	114		Arthur J. Gallagher & Co		12
	519,493		Assicurazioni Generali S.p.A.		7,322
	2,814,157		Aviva plc		10,412
	574,060		AXA S.A.		10,625
	242,283		Chubb Ltd		28,134
	193,866		CNP Assurances		2,431
	1,814	*	eHealth, Inc		143
	3,967,440		Legal & General Group plc		9,678
	216,729		Loews Corp		7,531
	287,428		Marsh & McLennan Cos, Inc		32,968
	82,300		Mitsui Sumitomo Insurance Group Holdings, Inc		2,218
	31,810		Muenchener Rueckver AG.		8,087
	235,300		NKSJ Holdings, Inc		8,123
	642		Principal Financial Group		26
	298,102		Progressive Corp		28,221
	328,560		Prudential Financial, Inc		20,870
	1,026,451		Prudential plc		14,728
	75,475		Sun Life Financial, Inc		3,076
	118,769		Swiss Re Ltd		8,810
	130,200		Tokio Marine Holdings, Inc		5,697
	157,674		Travelers Cos, Inc		17,059
	208		White Mountains Insurance Group Ltd		162
	15,095		Willis Towers Watson plc		3,152
	51,467		Zurich Insurance Group AG		17,947
			TOTAL INSURANCE		314,610
MATERIALS - 2.9%
	142,583		Agnico-Eagle Mines Ltd		11,360
	132,474		Air Liquide		20,998
	1,524		Amcor plc		17
	13,596		Aptargroup, Inc		1,539

410

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	480,800		Asahi Kasei Corp	$	4,194
	612	*	Axalta Coating Systems Ltd		14
	533,448		B2Gold Corp		3,473
	247,058		Ball Corp		20,535
	176,376		BASF SE		10,741
	213,652		BlueScope Steel Ltd		1,969
	307,457		Boliden AB		9,122
	83,968	*	Century Aluminum Co		598
	4,061		Christian Hansen Holding		451
	329,193		CRH plc		11,937
	89,942		Croda International plc		7,255
	45,293		DSM NV		7,457
	533,766		DuPont de Nemours, Inc		29,613
	171,703		Ecolab, Inc		34,313
	496,318		Evolution Mining Ltd		2,073
	924,604		Fortescue Metals Group Ltd		10,862
	68,702		Franco-Nevada Corp		9,600
	3,439		Givaudan S.A.		14,849
	102,204		HeidelbergCement AG.		6,245
	204,900		Hitachi Metals Ltd		3,160
	15,725		International Flavors & Fragrances, Inc		1,926
	11,455		Johnson Matthey plc		348
	229,267		Linde plc		54,595
	747,109		Lundin Mining Corp		4,169
	486,000		Mitsubishi Chemical Holdings Corp		2,805
	58,300		Mitsubishi Materials Corp		1,149
	141,592		Mitsui Chemicals, Inc		3,422
	279,116		Mondi plc		5,902
	153,895		Mosaic Co		2,812
	438,614		Newcrest Mining Ltd		9,946
	506,847		Newmont Goldcorp Corp		32,159
	500		Nippon Paint Co Ltd		52
	704,000		Nippon Steel Corp		6,646
	89,700		Nitto Denko Corp		5,844
	1,520,855		Norsk Hydro ASA		4,198
	162,222		Nucor Corp		7,277
	306,097		Nutrien Ltd (Toronto)		12,002
	20,310		PPG Industries, Inc		2,479
	3,446		Reliance Steel & Aluminum Co		352
	10,424		Schnitzer Steel Industries, Inc (Class A)		200
	124,900		Shin-Etsu Chemical Co Ltd		16,344
	142,600		Showa Denko KK		2,617
	40,165		Sika AG.		9,863
	152,065		Stora Enso Oyj (R Shares)		2,380
	1,354,900		Sumitomo Chemical Co Ltd		4,485
	262,800		Sumitomo Metal Mining Co Ltd		8,151
	175,625	*	Summit Materials, Inc		2,905
	454,344		Svenska Cellulosa AB (B Shares)		6,229
	528,435		Teck Cominco Ltd		7,358
	9,000		Toray Industries, Inc		41
	27,032		Trinseo S.A.		693
	190,257		Umicore S.A.		7,914
	24,373		UPM-Kymmene Oyj		742
	33,281	*	US Concrete, Inc		967

411

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	112,930		Voestalpine AG.	$	2,976
	120,838		Wheaton Precious Metals Corp		5,929
			TOTAL MATERIALS		460,252
MEDIA & ENTERTAINMENT - 3.3%
	527,141		Activision Blizzard, Inc		42,672
	69,342	*	Alphabet, Inc (Class A)		101,628
	68,556	*	Alphabet, Inc (Class C)		100,750
	2,994		Cable One, Inc		5,645
	4,039	*,e	Cardlytics, Inc		285
	222,448		Cinemark Holdings, Inc		2,224
	1,591,092		Comcast Corp (Class A)		73,604
	328,945	*,e	Discovery, Inc (Class A)		7,161
	464,861	*	Discovery, Inc (Class C)		9,111
	190,888	*	Electronic Arts, Inc		24,894
	84,653	*	Gray Television, Inc		1,166
	87,854	*,e	iHeartMedia, Inc		713
	101,331	*	Imax Corp		1,212
	655,398		Informa plc		3,177
	57,052		JC Decaux S.A.		986
	60,210		John Wiley & Sons, Inc (Class A)		1,909
	784	*	Liberty Broadband Corp (Class A)		111
	206,691	*	Liberty Broadband Corp (Class C)		29,530
	2,960	*	Liberty Global plc (Class A)		62
	7,192	*	Liberty Global plc (Class C)		148
	3,002	*	Live Nation, Inc		162
	23,584		Loral Space & Communications, Inc		432
	20,704	*	Madison Square Garden Co		3,116
	71,553		New York Times Co (Class A)		3,062
	34,100		Nintendo Co Ltd		19,324
	358,514		Omnicom Group, Inc		17,746
	749,945	e	Pearson plc		5,320
	426,722	*	Pinterest, Inc		17,713
	549		Schibsted ASA (B Shares)		22
	44,164		Scholastic Corp		927
	111,949	e	Sinclair Broadcast Group, Inc (Class A)		2,153
	1,780,304	e	Sirius XM Holdings, Inc		9,542
	18,838	*	Snap, Inc		492
	95,584	*	Take-Two Interactive Software, Inc		15,792
	15,254		TEGNA, Inc		179
	218,401		TripAdvisor, Inc		4,278
	47,708		World Wrestling Entertainment, Inc (Class A)		1,931
	766,310		WPP plc		6,019
	1,850,968	*	Zynga, Inc		16,881
			TOTAL MEDIA & ENTERTAINMENT		532,079
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 5.2%
	472,155		AbbVie, Inc		41,356
	65,825	*	Acadia Pharmaceuticals, Inc		2,715
	40,357	*,e	Accelerate Diagnostics, Inc		430
	89,901	*,e	Aerie Pharmaceuticals, Inc		1,058
	184,449		Agilent Technologies, Inc		18,618
	57,106	*	Agios Pharmaceuticals, Inc		1,999
	220,346		Amgen, Inc		56,003

412

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	52,528	*,e	AnaptysBio, Inc	$	775
	49,057	*	Assembly Biosciences, Inc		806
	793,914		Astellas Pharma, Inc		11,835
	312,531		AstraZeneca plc		34,149
	12,200		AstraZeneca plc (ADR)		669
	83,143	*	Atara Biotherapeutics, Inc		1,078
	7,622	*,e	Avrobio, Inc		99
	3,566	*	Axsome Therapeutics, Inc		254
	307,679	*	BioCryst Pharmaceuticals, Inc		1,057
	71,817	*	Biogen, Inc		20,373
	58,995	*	BioMarin Pharmaceutical, Inc		4,488
	135,052	*	Bluebird Bio, Inc		7,286
	847,204		Bristol-Myers Squibb Co		51,078
	198,186	*,e	Canopy Growth Corp (Toronto)		2,841
	308,591	*	Chugai Pharmaceutical Co Ltd		13,848
	66,315	*	Collegium Pharmaceutical, Inc		1,381
	203,314	*,e	Cronos Group, Inc		1,021
	123,441		CSL Ltd		25,499
	93,300		Eisai Co Ltd		8,521
	321,875		Eli Lilly & Co		47,644
	5,911	*,e	Esperion Thereapeutics, Inc		220
	39,409	*,e	Flexion Therapeutics, Inc		410
	450,981		Gilead Sciences, Inc		28,497
	78,706		H Lundbeck AS		2,592
	39,223	*	Halozyme Therapeutics, Inc		1,031
	48,374	*	Horizon Therapeutics Plc		3,758
	7,267	*	Illumina, Inc		2,246
	38,636	*	Immunomedics, Inc		3,285
	39,698	*	Insmed, Inc		1,276
	23,067	*	Intersect ENT, Inc		376
	110,743	*	Intra-Cellular Therapies, Inc		2,842
	70,628	*	IQVIA Holdings, Inc		11,133
	34,391	*	Jazz Pharmaceuticals plc		4,904
	76,245	*	Karyopharm Therapeutics, Inc		1,113
	28,601		Lonza Group AG.		17,651
	98,222	*	MacroGenics, Inc		2,474
	839,840		Merck & Co, Inc		69,665
	83,633		Merck KGaA		12,193
	7,286	*	Mettler-Toledo International, Inc		7,036
	3,119	*	Mirati Therapeutics, Inc		518
	2,673	*	MyoKardia, Inc		364
	446,256		Novo Nordisk AS		30,919
	341,800		Ono Pharmaceutical Co Ltd		10,751
	793,931	*,e	Opko Health, Inc		2,930
	116,648		Orion Oyj (Class B)		5,285
	52,529		Perrigo Co plc		2,412
	83,235	*	Prothena Corp plc		832
	18,085	*	Repligen Corp		2,668
	90,481	*	Revance Therapeutics, Inc		2,275
	153,623		Roche Holding AG.		52,622
	7,354	*	Sage Therapeutics, Inc		449
	103,278	*,e	Sangamo Therapeutics Inc		976
	290,635		Sanofi-Aventis		29,125
	18,000		Santen Pharmaceutical Co Ltd		368

413

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	126,300		Shionogi & Co Ltd	$	6,760
	198,600	e	Sumitomo Dainippon Pharma Co Ltd		2,617
	468,149	*,e	TherapeuticsMD, Inc		740
	98,528		Thermo Fisher Scientific, Inc		43,502
	5,130	*	Tricida, Inc		46
	89,867		UCB S.A.		10,207
	34,393	*,e	Ultragenyx Pharmaceutical, Inc		2,827
	169,057	*	Vertex Pharmaceuticals, Inc		46,004
	23,055	*	Waters Corp		4,511
	30,112	*,e	ZIOPHARM Oncology, Inc		76
	280,467		Zoetis, Inc		46,381
	15,799	*	Zogenix, Inc		283
			TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		836,031
REAL ESTATE - 2.0%
	61,113		Alexandria Real Estate Equities, Inc		9,778
	194,056		American Tower Corp		46,909
	3,067		Americold Realty Trust		110
	507,600		Ascendas REIT		1,215
	89,543		Boston Properties, Inc		7,190
	768,947		British Land Co plc		3,352
	3,007,873	e	CapitaLand Ltd		6,014
	45,076		CatchMark Timber Trust, Inc		403
	99,134	*	CBRE Group, Inc		4,656
	176,600	e	City Developments Ltd		994
	9,814		Coresite Realty		1,167
	32,012		Cousins Properties, Inc		915
	37,785		CyrusOne, Inc		2,646
	302,400		Daiwa House Industry Co Ltd		7,756
	155,597		Deutsche Wohnen AG.		7,777
	289,947		DiamondRock Hospitality Co		1,470
	26,997		Easterly Government Properties, Inc		605
	44,162		Equinix, Inc		33,569
	83,082		First Capital Real Estate Investment Trust		809
	41,930		First Industrial Realty Trust, Inc		1,669
	12,953		Fonciere Des Regions		910
	31,038		Franklin Street Properties Corp		114
	539		Gecina S.A.		71
	710,446		Goodman Group		9,198
	683,337		GPT Group		1,922
	252,264		Healthpeak Properties Inc		6,849
	194,856		Host Hotels and Resorts, Inc		2,102
	38,880	*	Howard Hughes Corp		2,239
	19,640		Hudson Pacific Properties		431
	338,000		Hulic Co Ltd		3,172
	945	e	Iron Mountain, Inc		25
	6,605		Jones Lang LaSalle, Inc		632
	98,487		Kimco Realty Corp		1,109
	19,076	e	Klepierre		267
	368,338	e	Land Securities Group plc		2,480
	55,191		Lend Lease Corp Ltd		441
	1,423,700		Link REIT		11,666
	295,765	e	Macerich Co		2,008
	1,039,835		Mirvac Group		1,630

414

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	567,800		Mitsubishi Estate Co Ltd	$	8,601
	362,810		Mitsui Fudosan Co Ltd		6,314
	17	*	Nippon ProLogis REIT, Inc		57
	84,700		Nomura Real Estate Holdings, Inc		1,612
	501,016		Park Hotels & Resorts, Inc		5,005
	7,000		Piedmont Office Realty Trust, Inc		95
	424,645		Prologis, Inc		42,728
	6,300		QTS Realty Trust, Inc		397
	19,275		Realogy Holdings Corp		182
	15,556		Regency Centers Corp		591
	3,556		RMR Group, Inc		98
	59,952		SBA Communications Corp		19,094
	663,481		Segro plc		7,973
	603,735		Stockland Trust Group		1,649
	563,500		Swire Pacific Ltd (Class A)		2,728
	1,321,000		Swire Properties Ltd		3,500
	41,583		UDR, Inc		1,356
	40,112	e	Unibail-Rodamco-Westfield		1,479
	80,106		Unibail-Rodamco-Westfield (Paris)		2,958
	50,025		Ventas, Inc		2,099
	216,002		Welltower, Inc		11,900
	292,635		Weyerhaeuser Co		8,346
			TOTAL REAL ESTATE		315,032
RETAILING - 3.0%
	52,124	*	1-800-FLOWERS.COM, Inc (Class A)		1,300
	30,065		Advance Auto Parts, Inc		4,615
	230,568	*	BJ’s Wholesale Club Holdings, Inc		9,580
	25,350	*	Booking Holdings, Inc		43,366
	99	*	Burlington Stores, Inc		20
	3,890	*	CarMax, Inc		358
	37,661	*,g	Delivery Hero AG.		4,321
	719,452		eBay, Inc		37,483
	247,073	*	Etsy, Inc		30,051
	281,959		Expedia Group, Inc		25,853
	15,700		Fast Retailing Co Ltd		9,866
	7,052	*	Five Below, Inc		896
	136,981	*,e	GameStop Corp (Class A)		1,397
	26,527		Gap, Inc		452
	28,224	*	Genesco, Inc		608
	679		Genuine Parts Co		65
	32,306	*	Groupon, Inc		659
	54,715		Hennes & Mauritz AB (B Shares)		943
	31,775	*,e	Hibbett Sports, Inc		1,246
	305,436		Home Depot, Inc		84,823
	318,925		Industria De Diseno Textil S.A.		8,823
	97,400		Jardine Cycle & Carriage Ltd		1,293
	898		JD Sports Fashion plc		9
	25,673		Kering		17,030
	579,682		Kingfisher plc		2,220
	22,420	*	Lands’ End, Inc		292
	98,089	*	LKQ Corp		2,720
	259,929		Lowe’s Companies, Inc		43,112
	516,711	e	Macy’s, Inc		2,945

415

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	38,743	*	MarineMax, Inc	$	995
	2,400	e	Marui Co Ltd		46
	370	*	MercadoLibre, Inc		400
	40,457		Next plc		3,102
	201		Pool Corp		67
	160,934	*	Prosus NV		14,855
	171,930	*	Quotient Technology, Inc		1,269
	490,800	*	Rakuten, Inc		5,292
	128,948	*	RealReal, Inc		1,866
	50,322		Ross Stores, Inc		4,696
	1,746	*,e	Sally Beauty Holdings, Inc		15
	15,085	e	Shoe Carnival, Inc		507
	245,095		Target Corp		38,583
	31,264		Tiffany & Co		3,622
	353,197		TJX Companies, Inc		19,655
	20,554		Tractor Supply Co		2,946
	21,264	*	Ulta Beauty, Inc		4,763
	103,887	*,e	Wayfair, Inc		30,232
	1,397		Williams-Sonoma, Inc		126
	24,714	*,g	Zalando SE		2,309
	18,108	*	Zumiez, Inc		504
			TOTAL RETAILING		472,196
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.1%
	408,360		Applied Materials, Inc		24,277
	274,200		ASM Pacific Technology		2,807
	101,220		ASML Holding NV		37,388
	27,404	*	Cirrus Logic, Inc		1,848
	13,128	*	Cree, Inc		837
	72,275	*	First Solar, Inc		4,785
	1,448,734		Intel Corp		75,016
	36,815		Lam Research Corp		12,213
	7,708		NVE Corp		378
	177,405		NVIDIA Corp		96,015
	22,132	*	Silicon Laboratories, Inc		2,166
	404,211		Texas Instruments, Inc		57,717
	48,800		Tokyo Electron Ltd		12,749
			TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		328,196
SOFTWARE & SERVICES - 6.4%
	260,233		Accenture plc		58,810
	157,191	*	Adobe, Inc		77,091
	110,866		Amadeus IT Holding S.A.		6,157
	25,925	*	Aspen Technology, Inc		3,282
	110,703		Atos Origin S.A.		8,896
	144,170	*	Autodesk, Inc		33,305
	199,669	*	Avaya Holdings Corp		3,035
	66,843	*	Benefitfocus, Inc		749
	16,128		Blackbaud, Inc		900
	104,218	*	Blackline, Inc		9,341
	165,363	*	Cadence Design Systems, Inc		17,633
	89,427		Cap Gemini S.A.		11,473
	58,374	*	Ceridian HCM Holding, Inc		4,825
	117,233	*	CGI, Inc		7,957

416

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	18,690	*	ChannelAdvisor Corp	$	270
	3,509		Computershare Ltd		31
	374,667	*	Conduent, Inc		1,191
	68,102		CSG Systems International, Inc		2,789
	525,420		DXC Technology Co		9,379
	46,969	*	Elastic NV		5,067
	69,609	*	ExlService Holdings, Inc		4,592
	128,738	*	Five9, Inc		16,695
	98,600		Fujitsu Ltd		13,471
	26,401	*	HubSpot, Inc		7,715
	425,334		International Business Machines Corp		51,750
	138,738		Intuit, Inc		45,258
	262,881	*,e	Limelight Networks, Inc		1,514
	20,765	*	Liveperson, Inc		1,080
	1,606,496		Microsoft Corp		337,894
	189,881		NEC Corp		11,107
	106,264	*	New Relic, Inc		5,989
	205,200		Nomura Research Institute Ltd		6,042
	141,561	*	Nutanix, Inc		3,140
	8,622	*	OneSpan, Inc		181
	117,080	e	Open Text Corp (Toronto)		4,949
	1,800		Otsuka Corp		92
	33,814	*	Paylocity Holding Corp		5,458
	67,215	*	Perficient, Inc		2,873
	25,859	*,e	Qualys, Inc		2,534
	34,558	*	Rapid7, Inc		2,116
	21,480	*	Rosetta Stone, Inc		644
	576,811		Sabre Corp		3,755
	294,920	*	salesforce.com, Inc		74,119
	248,542		SAP AG.		38,702
	121,003		Science Applications International Corp		9,489
	27,798	*	Shopify, Inc (Class A) (Toronto)		28,427
	42,327	*	Smartsheet, Inc		2,092
	74,585	*	SPS Commerce, Inc		5,808
	900		Sumisho Computer Systems Corp		50
	134,042	*	SVMK, Inc		2,964
	83,587	*	Sykes Enterprises, Inc		2,860
	233,958	*	Teradata Corp		5,311
	36,680		TTEC Holdings, Inc		2,001
	58,018	*	Virtusa Corp		2,852
	163,797	e	VMware, Inc (Class A)		23,533
	89,050	*	WEX, Inc		12,375
	112,234		Wisetech Global Ltd		2,102
	10,974	*	Workiva, Inc		612
	165,939	*	Zendesk, Inc		17,078
			TOTAL SOFTWARE & SERVICES		1,021,405
TECHNOLOGY HARDWARE & EQUIPMENT - 3.5%
	3,437,728		Apple, Inc		398,123
	4,043		Belden CDT, Inc		126
	9,130		Benchmark Electronics, Inc		184
	160,328	*	Ciena Corp		6,363
	1,433,645		Cisco Systems, Inc		56,471
	934		Cognex Corp		61

417

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	39,338		CTS Corp	$	867
	79,578		Dolby Laboratories, Inc (Class A)		5,274
	2,887	*	Fabrinet		182
	1,846,207		Hewlett Packard Enterprise Co		17,299
	221,207		HP, Inc		4,201
	14,782	*	Insight Enterprises, Inc		836
	5,007	*	Itron, Inc		304
	52,274		Keyence Corp		24,437
	64,170	*	Keysight Technologies, Inc		6,339
	28,526	*	Kimball Electronics, Inc		330
	17,715	*	Lumentum Holdings, Inc		1,331
	8,736		Methode Electronics, Inc		249
	180,700		Murata Manufacturing Co Ltd		11,750
	4,340	*	Novanta, Inc		457
	57,800		Omron Corp		4,519
	1,511	*	OSI Systems, Inc		117
	64,222	*	Ribbon Communications, Inc		249
	13,456	*,e	Rogers Corp		1,320
	5,900		Shimadzu Corp		180
	32,803		Synnex Corp		4,594
	30,600		TDK Corp		3,341
	4,348		TE Connectivity Ltd		425
	46,836	*	Trimble Inc		2,281
	62,237	*,e	TTM Technologies, Inc		710
	92,218		Vishay Intertechnology, Inc		1,436
			TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		554,356
TELECOMMUNICATION SERVICES - 1.1%
	79,759	*	Boingo Wireless, Inc		813
	6,482,604		BT Group plc		8,211
	203,532	*	Iridium Communications, Inc		5,207
	554,032		KDDI Corp		13,935
	75,553		Koninklijke KPN NV		178
	429,600		NTT DoCoMo, Inc		15,786
	921,525	*	Orange S. A.		9,598
	185,118		Rogers Communications, Inc (Class B)		7,343
	2,639,500		Singapore Telecommunications Ltd		4,131
	536,300		Singapore Telecommunications Ltd		833
	844,100	e	Softbank Corp		9,432
	2,271		Swisscom AG.		1,203
	2,071	e	Tele2 AB (B Shares)		29
	328,744		Telefonica Deutschland Holding AG.		840
	230,397		Telenor ASA		3,868
	217,361		TeliaSonera AB		889
	14,204		TELUS Corp		250
	1,320,421		Verizon Communications, Inc		78,552
	9,265,349		Vodafone Group plc		12,281
			TOTAL TELECOMMUNICATION SERVICES		173,379
TRANSPORTATION - 1.6%
	115,400	e	All Nippon Airways Co Ltd		2,669
	53,382		ArcBest Corp		1,658
	143,974		Auckland International Airport Ltd		699
	32,552	*	Avis Budget Group, Inc		857

418

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	209,029		Canadian National Railway Co	$	22,262
	47,700		Central Japan Railway Co		6,837
	67,298		CH Robinson Worldwide, Inc		6,877
	466,294		CSX Corp		36,217
	934,918		Delta Air Lines, Inc		28,590
	364,116		Deutsche Post AG.		16,522
	130,100		East Japan Railway Co		8,001
	57,413	*	Echo Global Logistics, Inc		1,480
	75,281		Getlink S.E.		1,020
	11,500		Hankyu Hanshin Holdings, Inc		370
	4,304		Kansas City Southern		778
	100		Keio Corp		6
	16,500		Kintetsu Corp		704
	723		Kuehne & Nagel International AG.		140
	459		Landstar System, Inc		58
	1,735,364		MTR Corp		8,612
	115,378		Nippon Yusen Kabushiki Kaisha		2,002
	138,320		Norfolk Southern Corp		29,599
	175		Old Dominion Freight Line		32
	100		SG Holdings Co Ltd		5
	247,249	e	Singapore Airlines Ltd		633
	372,666		Sydney Airport		1,582
	1,279,550		Transurban Group		13,065
	339,486		United Parcel Service, Inc (Class B)		56,569
	200		West Japan Railway Co		10
			TOTAL TRANSPORTATION		247,854
UTILITIES - 2.0%
	339,638		American Electric Power Co, Inc		27,759
	35,541		American Water Works Co, Inc		5,149
	500,415		APA Group		3,720
	154,522		Centerpoint Energy, Inc		2,990
	983,500		CLP Holdings Ltd		9,183
	14,457		CMS Energy Corp		888
	228,090		Consolidated Edison, Inc		17,745
	228,274		Dominion Energy, Inc		18,018
	26,244		DTE Energy Co		3,019
	2,401,755		Enel S.p.A.		20,837
	186,602		Energias de Portugal S.A.		918
	165,945		Eversource Energy		13,865
	101,463		Fortis, Inc		4,148
	7,133,034		Hong Kong & China Gas Ltd		10,357
	1,541,403		Iberdrola S.A.		18,972
	431,000		Kyushu Electric Power Co, Inc		3,911
	503,460		Meridian Energy Ltd		1,656
	1,264,855		National Grid plc		14,528
	263,382		Naturgy Energy Group S.A.		5,282
	95,935	g	Orsted AS		13,226
	253,150		Public Service Enterprise Group, Inc		13,900
	635,989		Scottish & Southern Energy plc		9,899
	197,880		Sempra Energy		23,421
	100,334	*,h	Siemens Energy AG.		2,706
	10,780		South Jersey Industries, Inc		208
	611,773		Southern Co		33,170

419

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

				VALUE
SHARES			COMPANY	(000)
	100		Toho Gas Co Ltd	$	5
	181,100		Tokyo Gas Co Ltd		4,133
	36,029		UGI Corp		1,188
	138,929		WEC Energy Group, Inc		13,462
	223,684		Xcel Energy, Inc		15,436
			TOTAL UTILITIES		313,699
			TOTAL COMMON STOCKS		9,241,372
			(Cost $7,288,519)
PREFERRED STOCKS - 0.3%
BANKS - 0.1%
	233,115	*,e	Federal Home Loan Mortgage Corp (FHLMC)		2,075
	740,991	*,e	Federal National Mortgage Association (FNMA)		6,580
			TOTAL BANKS		8,655
REAL ESTATE - 0.1%
	390,000	e	Brookfield Property Partners LP		7,734
	695,000		Brookfield Property Partners LP		12,419
			TOTAL REAL ESTATE		20,153
UTILITIES - 0.1%
	490,000	*	Brookfield Infrastructure Partners LP		12,618
	308,000	e	Brookfield Renewable Partners LP		8,103
			TOTAL UTILITIES		20,721
			TOTAL PREFERRED STOCKS		49,529
			(Cost $71,428)
RIGHTS / WARRANTS - 0.0%
MEDIA & ENTERTAINMENT - 0.0%
	38,808	†	Media General, Inc		0
			TOTAL MEDIA & ENTERTAINMENT		0
			TOTAL RIGHTS / WARRANTS		0
			(Cost $0)

						MATURITY
PRINCIPAL		ISSUER	RATE			DATE
SHORT-TERM INVESTMENTS - 6.8%
GOVERNMENT AGENCY DEBT - 2.0%
$	27,941,000	Federal Home Loan Bank (FHLB)		0.065-0.090	%	10/16/20	27,940
	34,191,000	FHLB		0.070-0.095		10/21/20	34,190
	46,920,000	FHLB		0.080-0.095		10/28/20	46,918
	5,393,000	FHLB		0.090		10/30/20	5,393
	63,406,000	FHLB		0.070-0.100		11/06/20	63,402
	22,145,000	FHLB		0.100		11/25/20	22,143
	5,000,000	FHLB		0.100		12/30/20	4,999
	9,295,000	FHLB		0.100		01/29/21	9,292
	30,330,000	FHLB		0.115		02/26/21	30,317

420

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

						MATURITY	VALUE
PRINCIPAL		ISSUER	RATE			DATE	(000)
$	20,000,000	FHLB		0.115	%	03/03/21	$	19,991
	25,000,000	Federal Agricultural Mortgage Corp (FAMC)		0.080		10/21/20		24,999
	25,000,000	FAMC		0.080		10/23/20		24,999
		TOTAL GOVERNMENT AGENCY DEBT						314,583
TREASURY DEBT - 3.9%
	29,130,000	United States Cash Management Bill		0.081-0.085		10/13/20		29,129
	30,000,000	United States Cash Management Bill		0.116		11/03/20		29,998
	40,480,000	United States Cash Management Bill		0.108		12/15/20		40,471
	18,000,000	United States Cash Management Bill		0.090-0.095		12/29/20		17,996
	50,000,000	United States Cash Management Bill		0.097		01/05/21		49,987
	25,000,000	United States Cash Management Bill		0.096		02/23/21		24,990
	50,000,000	United States Treasury Bill		0.140		10/01/20		50,000
	70,000,000	United States Treasury Bill		0.081-0.090		10/06/20		69,999
	6,000,000	United States Treasury Bill		0.090		11/05/20		6,000
	25,000,000	United States Treasury Bill		0.090		11/12/20		24,997
	33,565,000	United States Treasury Bill		0.075-0.117		11/19/20		33,561
	58,760,000	United States Treasury Bill		0.080-0.095		12/03/20		58,750
	30,000,000	United States Treasury Bill		0.111		12/10/20		29,994
	82,325,000	United States Treasury Bill		0.090		12/24/20		82,304
	69,748,000	United States Treasury Bill		0.088-0.100		12/31/20		69,729
		TOTAL TREASURY DEBT						617,905

SHARES			COMPANY
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 0.9%
	143,010,596	c	State Street Navigator Securities Lending Government Money Market Portfolio		143,011
			TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		143,011
			TOTAL SHORT-TERM INVESTMENTS		1,075,499
			(Cost $1,075,495)
			TOTAL INVESTMENTS - 104.8%		16,684,079
			(Cost $14,454,017)
			OTHER ASSETS & LIABILITIES, NET - (4.8)%		(765,522	)
			NET ASSETS - 100.0%	$	15,918,557

	Abbreviation(s):
ADR	American Depositary Receipt
EUR	EURO
LIBOR	London Interbank Offered Rate
M	Month
REIT	Real Estate Investment Trust
SOFR	Secured Overnight Financing Rate

421

COLLEGE RETIREMENT EQUITIES FUND - Social Choice Account

*	Non-income producing
†	Security is categorized as Level 3 in the fair value hierarchy.
‡	Perpetual security
c	Investments made with cash collateral received from securities on loan.
e	All or a portion of these securities are out on loan. The aggregate value of securities on loan is $223,819,506.
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 9/30/20, the aggregate value of these securities is $1,541,200,951 or 9.7% of net assets.
h	All or a portion of these securities were purchased on a delayed delivery basis.
i	Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.
q	In default
	Cost amounts are in thousands.

Forward foreign currency contracts outstanding as of September 30, 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)
$	2,904	EUR	2,471	Bank of America	11/30/20	$	3

Abbreviation(s):
EUR	Euro

422

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

Organization and significant accounting policies

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

Valuation of investments

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

•	Level 1 –	quoted prices in active markets for identical securities
•	Level 2 –	other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.)
•	Level 3 –	significant unobservable inputs (including the Accounts’ own assumptions in determining the fair value of investments)

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

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

As of September 30, 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 September 30, 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	$	—		$	308	$	—	$	308
Equity investments:
Communication services		8,023,983			2,084,420		34		10,108,437
Consumer discretionary		11,125,309			3,937,883		5		15,063,197
Consumer staples		4,643,309			3,018,148		4,267		7,665,724
Energy		1,435,239			1,096,946		676		2,532,861
Financials		8,102,688			4,947,488		674		13,050,850
Health care		11,332,948			3,684,576		254		15,017,778
Industrials		7,219,881			3,876,177		1,248		11,097,306
Information technology		20,671,869			4,548,718		11		25,220,598
Materials		2,332,999			2,544,344		8		4,877,351
Real estate		2,236,449			1,113,161		9,004		3,358,614
Utilities		2,061,551			974,119		—		3,035,670
Short-term investments		—			2,322,566		—		2,322,566
Purchased options**		507			—		—		507
Written options**		(3,332	)		—		—		(3,332	)
Futures contracts**		(7,883	)		—		—		(7,883	)
Forward foreign currency contracts**		—			511		—		511
Total	$	79,175,517		$	34,149,365	$	16,181	$	113,341,063

423

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

Account	Level 1			Level 2			Level 3		Total
Global Equities
Equity investments:
Asia	$	507,834		$	2,532,891		$	80	$	3,040,805
Europe		118,910			3,027,741			—		3,146,651
North America		11,648,255			353,040			—		12,001,295
All other equity investments*		275,858			2,226,146			5		2,502,009
Short-term investments		—			205,956			—		205,956
Purchased options**		108			—			—		108
Written options**		(2,215	)		—			—		(2,215	)
Futures contracts**		(1,293	)		—			—		(1,293	)
Total	$	12,547,457		$	8,345,774		$	85	$	20,893,316
Growth
Equity investments:
Communication services	$	4,733,428		$	240,937		$	—	$	4,974,365
Consumer discretionary		5,266,402			382,560			—		5,648,962
Consumer staples		1,061,383			116,525			—		1,177,908
Health care		4,112,681			919,837			—		5,032,518
Industrials		1,661,880			146,998			—		1,808,878
Information technology		11,863,673			378,954			—		12,242,627
All other equity investments*		1,569,608			—			—		1,569,608
Short-term investments		74,658			104,772			—		179,430
Total	$	30,343,713		$	2,290,583		$	—	$	32,634,296
Equity Index
Equity investments:
Financials	$	1,910,130		$	—		$	5	$	1,910,135
Health care		2,806,470			—			35		2,806,505
Materials		539,816			—			—		539,816
All other equity investments*		14,046,043			126			—		14,046,169
Short-term investments		122,037			70,284			—		192,321
Futures contracts**		(503	)		—			—		(503	)
Total	$	19,423,993		$	70,410		$	40	$	19,494,443
Bond Market
Bank loan obligations	$	—		$	117,779		$	—	$	117,779
Corporate bonds		—			6,039,819			—		6,039,819
Government bonds		—			5,644,807			1,575		5,646,382
Structured assets		—			2,471,818			17,627		2,489,445
Common stocks		214			—			—		214
Preferred stocks		17,749			—			—		17,749
Short-term investments		—			1,716,107			—		1,716,107
Forward foreign currency contracts**		—			(1,194	)		—		(1,194	)
Credit default swap contracts**		—			(202	)		—		(202	)
Total	$	17,963		$	15,988,934		$	19,202	$	16,026,099

424

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

Account	Level 1		Level 2		Level 3		Total
Social Choice
Bank loan obligations	$	—	$	10,886	$	—	$	10,886
Corporate bonds		—		2,573,107		—		2,573,107
Government bonds		—		3,189,927		8,593		3,198,520
Structured assets		—		528,766		6,400		535,166
Equity investments:
Communication services		581,803		123,656		—		705,459
Consumer discretionary		769,984		294,372		—		1,064,356
Consumer staples		414,197		310,376		—		724,573
Energy		136,187		104,124		—		240,311
Financials		689,235		487,840		3		1,177,078
Health care		1,007,711		358,584		—		1,366,295
Industrials		616,315		362,699		—		979,014
Information technology		1,667,330		236,628		—		1,903,958
Materials		192,994		267,258		—		460,252
Real estate		238,640		96,545		—		335,185
Utilities		210,940		123,480		—		334,420
Short-term investments		143,010		932,489		—		1,075,499
Forward foreign currency contracts**		—		3		—		3
Total	$	6,668,346	$	10,000,740	$	14,996	$	16,684,082

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

(A10944-D 11/20)

425