N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number File No. 811-08520

TIAA SEPARATE ACCOUNT VA-1

(Exact name of registrant as specified in charter)

730 Third Avenue, New York, New York 10017

(Address of principal executive offices) (Zip code)

Stewart P. Greene, Esq.

c/o TIAA-CREF

730 Third Avenue,

New York, New York 10017-3206

(Name and address of agent for service)

Registrant’s telephone number, including area code: 212-490-9000

Date of fiscal year end: December 31

Date of reporting period: January 1, 2006 – June 30, 2006

Item 1. Reports to Stockholders.

2006 SEMIANNUAL REPORT

TIAA SEPARATE ACCOUNT VA-1

JUNE 30, 2006

Financial statements (unaudited) including summary portfolio of investments

Stock Index Account

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Contents

Keeping pace with your evolving needs		1
Report to policyholders		2
More information for policyholders		4
Special terms		5
Important information about expenses		6
Account performance
Stock Index Account		8
Summary portfolio of investments		11
Financial statements
Statement of assets and liabilities		15
Statement of operations		16
Statements of changes in net assets		17
Notes to financial statements		18
Management committee approval of investment management agreement		23
How to reach us	Inside back cover

PERFORMANCE OVERVIEW AS OF JUNE 30, 2006

		Average annual compound rates
		of total return
	Inception date	1 year		5 years		10 years		Since inception
EQUITIES
Stock Index Account	11/1/1994	8.87	%	3.00	%	8.07	%	10.39	%

The returns quoted represent past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown above, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit www.tiaa-cref.org, or call 800 223-1200.

As always, you should carefully consider the investment objectives, risks, charges and expenses of any account before investing. Please visit our website at www.tiaa-cref.org, or call 800 223-1200, for a prospectus that contains this and other important information. We urge you to read it carefully before investing.

Keeping pace with your evolving needs

I am pleased to provide you with the 2006 TIAA Separate Account VA-1 Semiannual Report, which will tell you how the Stock Index Account, the underlying investment of the TIAA Separate Account VA-1, performed during the first six months of 2006.

Finding value in the global marketplace is a more demanding task than ever before. To meet that challenge, we are increasing the size of our analyst team by nearly 50% in order to give our research capacity a more global reach. We will continue to deploy all of our resources in a diligent, efficient and risk-controlled manner. Because we are committed to providing expert investment management while restraining expenses, we are obsessive about spending each dollar wisely.

As I focus my attention on leading Asset Management at TIAA-CREF, I am pleased to turn over investment policy responsibilities to Edward Grzybowski, who brings to his new position nearly two decades of experience at the company.

As the chief investment officer of Teachers Advisors, Inc., the account’s investment adviser, Ed is charged with building on our heritage of helping to provide financial security through disciplined, low-priced investment management.

Scott C. Evans

Executive Vice President

Ed and I will work with the Asset Management staff with one clear objective: to help maximize the ending balance in your account, while remaining conscious of risk. That’s what it means to provide financial services for the greater good, and we believe that’s one of the reasons why you choose to invest with us.

/S/    SCOTT C. EVANS        

Scott C. Evans

Executive Vice President

TIAA Separate Account VA-1    2006 Semiannual Report  |    1

Report to policyholders

During the first half of 2006, investors drove stock prices higher and then engaged in a sell-off that erased a sizable portion of the year’s gains. The Russell 3000^® Index, which measures the broad U.S. market, was up 5.3% in the first quarter but dropped 2% in the second, ending the six-month period with a return of 3.2%.

Investors changed course largely out of fear that higher interest rates and increased energy prices would derail economic growth and reduce corporate profits.

The Federal Reserve reacts to rising prices

The year began with the U.S. economy in high gear. The nation’s Gross Domestic Product jumped by 5.6% in the first quarter of 2006, but this surging growth—along with the rising cost of energy—raised the threat of higher inflation. The Consumer Price Index was up 3.5% at the end of March from its level of a year earlier.

In response to robust growth and rising inflation, the Federal Reserve continued the credit-tightening policy it began in June 2004. It raised short-term interest rates four times during the first half of 2006, and that helped push longer-term rates higher, too.

The yield on 10-year Treasury notes, which serves as the benchmark for the bond market, went from 4.39% at the end of December 2005 to 5.14% at the end of June.

The Lehman Brothers U.S. Aggregate Index, which measures the investment-grade bond market, returned –0.7% for the first six months of the year.

Higher costs squeeze the economy

During the first half of 2006, corporate earnings continued to grow, but profit margins were threatened by higher prices for many commodities. While oil and natural gas prices made headlines, the cost of many other commodities, ranging from aluminum to zinc, also rose during the six-month period.

The average pretax return on assets for the companies of the Russell 3000 remained nearly constant. At the end of June it stood at 9.6%; at the end of 2005 the figure had stood at 9.5%.

In addition, strong stock returns overseas continued to attract investment dollars to foreign markets. This helped to depress returns for U.S. stocks to a level that was below historical norms.

Returns for U.S. stocks differed widely among industry sectors. The integrated oils and “other energy” sectors of the Russell 3000 soared 13.0% and 11.1%, respectively. After losing 3.1% during 2005, autos and transportation rebounded with a 13.0% gain. The weakest performance came from technology, which dropped 4.0%, and health care, down 3.3%.

Wide gaps continued among the returns of companies of differing

2    |  2006 Semiannual Report    TIAA Separate Account VA-1

size. Small-cap stocks climbed 8.2%, while mid caps rose 4.8% and large caps returned 2.7%.

The Russell 3000 Index, the account’s benchmark, includes stocks in all three ranges, but large caps account for about four-fifths of the index in terms of market capitalization.

The account tops its peers

The Stock Index Account, the underlying investment of the TIAA Separate Account VA-1, uses an indexing strategy. It seeks a favorable long-term return from a diversified portfolio selected to track the overall market for common stocks in the United States. The account’s benchmark is the Russell 3000 Index.

The indexing approach has served the account well. For the first half of 2006 its 2.9% return outperformed the 1.4% average return of similar variable annuities, as measured by Morningstar’s Large Blend (VA) category. For the ten-year period ended June 30, the account posted an average annual return of 8.1%, versus the 6.0% average return for the Morningstar Large Blend (VA) category.

While past performance is no guarantee of future results, the broad diversification that indexing provides enables a portfolio to capture the market’s gains when stocks move up and to avoid the worst losses of individual market sectors when stocks decline.

Edward J. Grzybowski

Chief Investment Officer

Teachers Advisors, Inc.

Indexing also helps keep an account’s expenses low, so investors receive a larger share of the portfolio’s earnings. With an expense charge of just 0.67%, the Separate Account remains an attractive choice for the cost-conscious investor.

/s/    EDWARD J. GRZYBOWSKI        

Edward J. Grzybowski

Chief Investment Officer

Teachers Advisors, Inc.

TIAA Separate Account VA-1    2006 Semiannual Report  |    3

More information for policyholders

Portfolio listings

SEC rules intended to provide investors with more meaningful information about account performance allow investment companies to list the top holdings of each account in their annual and semiannual reports instead of providing complete portfolio listings as they did previously. Companies will continue to file complete listings with the SEC, and these will remain available to investors.

You can obtain a complete list of TIAA Separate Account VA-1’s holdings (called “TIAA Separate Account VA-1 Statement of Investments”) as of the most recently completed fiscal quarter (currently for the period ended June 30, 2006) in the following ways:

• by visiting the TIAA-CREF website at www.tiaa-cref.org; or

• by calling TIAA-CREF at 800 842-2776 to request a copy, which will be provided free of charge.

You can also obtain a complete list of the Stock Index Account’s holdings as of the most recently completed fiscal quarter, and for prior quarter-ends, from the SEC. (Form N-CSR lists holdings as of December 31 or June 30; Form N-Q lists holdings as of March 31 or September 30.) Copies of these forms are available:

• through the Electronic Data Gathering and Retrieval System (EDGAR) on the SEC’s website at www.sec.gov; or

• at the SEC’s Public Reference Room. (Call 800 SEC-0330 for more information.)

Proxy voting

The Separate Account’s ownership of stock gives it the right to vote on proxy issues of companies in which it invests. A description of our proxy voting policies and procedures can be found at our website at www.tiaa-cref.org, or on the SEC website at www.sec.gov. You may also call us at 800 223-1200 to request a free copy. A report of how the account voted during the most recently completed twelve-month period ended June 30 can be found at our website or at www.sec.gov.

Contacting TIAA-CREF

There are three easy ways to contact us: by email, using the Contact/Help link at the top of our homepage; by mail at TIAA-CREF, 730 Third Avenue, New York NY 10017–3206; or by phone at 800 223-1200.

Account management

TIAA Separate Account VA-1 is managed by the portfolio management teams of Teachers Advisors, Inc. The members of these teams are responsible for the day-to-day operations of the account.

4    |  2006 Semiannual Report    TIAA Separate Account VA-1

Special terms

Annuities are designed for retirement savings or for other long-term goals. They offer several payment options, including lifetime income. Payments from variable annuities are not guaranteed, and the payment amounts will rise or fall depending on investment returns.

Benchmarks (benchmark indexes) are groups of securities, such as the Russell 3000^® Index, whose performance can be used as a standard by which to judge the performance of an investment.*

Expense ratio is the amount that investors pay for the management of a variable annuity account. The amount is expressed as a percentage of the account’s average net assets. Expense ratios do not include front-end or back-end sales charges, if any, or trading costs. See “Total return.”

Inception date is the first date on which investors can invest in an account. The account begins to record investment performance on that date.

Market capitalization is the total value of a company’s outstanding stock. It is calculated by multiplying the total number of a company’s outstanding shares by the current market price per share.

Peer groups are groupings of variable annuities with a similar objective whose performance can be compared with the performance of a single variable annuity.

Relative performance is the return of a variable annuity in relation to the return of its benchmark index.

Securities is a general name for stocks (also known as “equities”), bonds (also known as “fixed-income securities”) or other investments.

Separate account is an account established by a life insurance company, separate from its general account, for the investments in nonguaranteed insurance and annuity products. In contrast, a life insurer’s general account supports products with principal and interest guarantees. Separate accounts generally are registered with the SEC as investment companies.

Total return is the amount an investment provides to investors after expenses are deducted. Total return is expressed as a percentage. It includes any interest or dividends, as well as any change in the market value of the investment.

* Russell 3000 is a trademark and service mark of the Frank Russell Company. TIAA-CREF products are not promoted or sponsored by, or affiliated with, the Frank Russell Company.

TIAA Separate Account VA-1    2006 Semiannual Report  |    5

Important information about expenses

As a TIAA Separate Account VA-1 contract owner, you incur only one of two potential types of costs.

• You incur no transaction costs, including sales charges (loads) on contributions, on reinvested dividends or on other distributions. There are also no redemption fees or exchange fees.

• However, you do incur ongoing costs, including investment advisory fees, administrative expenses, and mortality and expense risk charges.

The example that appears on this page is intended to help you understand your ongoing costs (in dollars) of investing in the account. It is also designed to help you compare these costs with the ongoing costs of investing in other variable annuity accounts and mutual funds. (The costs shown do not reflect any separate account fees or expenses deducted under the variable annuity contracts using the TIAA Separate Account VA-1. If those fees or expenses were included, the costs would be higher.)

The example assumes $1,000 was invested on January 1, 2006, and held for six months until June 30, 2006.

Actual expenses

The first line in the table uses the account’s actual expenses and its actual rate of return. You may use the information in this line, together with the amount you invested at the beginning of the period, to estimate the expenses that you paid over the six-month period.

Simply divide your beginning accumulation by $1,000 (for example, an $8,600 accumulation divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses paid” to estimate the expenses you paid during the six-month period.

	Stock Index Account expense example
	Starting account value (1/1/06)		Ending account value (6/30/06)		Expenses paid† (1/1/06–6/30/06)
Actual return	$	1,000.00	$	1,025.72	$	3.38
5% annual hypothetical return	$	1,000.00		1,021.42		3.37

^† “Expenses paid” is based on the account’s actual expense ratio for the most recent fiscal half year. The account’s annualized six-month expense ratio for that period was 0.67%.

6    |  2006 Semiannual Report    TIAA Separate Account VA-1

DISCLOSURE

Hypothetical example for comparison purposes

The second line in the table shows hypothetical account values and hypothetical expenses based on the account’s actual expense ratio for the six-month period and an assumed annual rate of return of 5% before expenses—which is not the account’s actual return.

Do not use the hypothetical account values and hypothetical expenses to estimate the actual expenses you paid for the period. Instead, you can use this information to compare the ongoing costs of investing in an individual account with ongoing costs of other variable annuity accounts and mutual funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other accounts or funds.

TIAA Separate Account VA-1    2006 Semiannual Report  |    7

Stock Index Account  |  U.S. stocks

DISCUSSION

Performance in the six months ended June 30, 2006

The Stock Index Account returned 2.91% for the period, lagging the 3.23% return of its benchmark, the Russell 3000^® Index, but outpacing the 1.42% average return of similar variable annuities, as measured by the Morningstar Large Blend (VA) category. The Morningstar category tracked 3,879 variable annuities as of June 30, 2006.

Second-quarter slide erodes gains

In response to a strong global economy and healthy corporate earnings growth, the broad U.S. stock market, as measured by the Russell 3000 Index, climbed 5.31% in the first quarter of 2006. Stocks reversed course in the second quarter, however, in reaction to rising interest rates and the threat of inflation. The Russell 3000 fell 1.98%, giving back more than a third of its first-quarter gain. For the six months, the Russell 3000 failed to keep pace with the 10.16% advance of foreign stocks, as measured by the MSCI EAFE^® Index.

Technology and health care dampen returns

Nine of the benchmark’s twelve sectors showed positive returns for the six months, and five sectors—utilities, autos and transportation, materials and processing, integrated oils, and “other energy”—produced double-digit gains. However, the benchmark’s overall return was trimmed by losses in technology and health care. These two sectors, which represented more than a quarter of the Russell 3000’s market capitalization on June 30, 2006, fell 4% and 3.3%, respectively. Financials, the largest sector in the benchmark, rose 4.4%, while the second-largest, consumer discretionary, returned just 1%.

Two of the largest stocks post losses

Returns for the benchmark’s five largest companies varied widely, reflecting the divergent performance of their industry sectors. In descending order according to cap size, these stocks performed as follows: ExxonMobil, 10.4%; General Electric, –4.5%; Citigroup, 1.5%; Bank of America, 6.5%; and Microsoft, –10.3%.

Returns for the Russell 3000 were boosted by the 8.21% return of small-cap stocks and the 4.84% return of mid caps. Together, small- and mid-cap stocks made up about one-third of the index on June 30, 2006. Large-cap stocks gained just 2.76%.

For the period, the account’s return was comparable to that of the benchmark, minus the effects of expenses and of some cash holdings for liquidity. The account also had a risk profile similar to that of the benchmark.

8    |  2006 Semiannual Report    TIAA Separate Account VA-1

Stock Index Account  |  U.S. stocks

PERFORMANCE

Investment objective

This account seeks a favorable long-term return from a diversified portfolio selected to track the overall market for common stocks publicly traded in the United States, as represented by a broad stock market index.

Special investment risks

Although this account attempts to closely track the investment performance of its benchmark index, it does not duplicate the composition of this index. In addition, the account’s performance, unlike that of its index, is affected by investment and other operating expenses. There is no guarantee that the performance of the account will match that of its index for any period of time.

The account’s benchmark

The Russell 3000^® Index measures the performance of the stocks of the 3,000 largest publicly traded U.S. companies, based on market capitalization. The index measures the performance of about 98% of the total market capitalization of the publicly traded U.S. equity market. You cannot invest directly in this index.

Performance as of June 30, 2006

	Average annual compound rates of total return*						Cumulative rates of total return*
	1 year		5 years		10 years		6 months		5 years		10 years
Stock Index Account	8.87	%	3.00	%	8.07	%	2.91	%	15.92	%	117.38	%
Benchmark:
Russell 3000 Index1	9.56		3.52		8.52		3.23		18.92		126.60

* The returns quoted represent past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. Current performance may be higher or lower than that shown above, and you may have a gain or a loss when you redeem your accumulation units. For current performance information, including performance to the most recent month-end, please visit www.tiaa-cref.org, or call 800 223-1200.

¹ Russell 3000 is a trademark and service mark of the Frank Russell Company. TIAA-CREF products are not promoted or sponsored by, or affiliated with, the Frank Russell Company.

Account facts

Inception date		11/1/1994
Net assets (6/30/2006)	$	916.97 million
Total annual expense ratio*		0.67	%

* The total annual expense ratio reflects a voluntary agreement by the account’s investment adviser to waive a portion of its fee. Without this waiver, the account’s total annual expense ratio would be 0.90%. Although TIAA reserves the right to increase the account’s mortality and expense risk charge to a maximum of 1.00% per year, the total annual expense ratio will never exceed 1.50%.

Portfolio breakdown by company size

Capitalization as of 6/30/2006	Percent of portfolio investments
Large: over $5 billion	81.15
Middle: $1 billion–$5 billion	15.09
Small: under $1 billion	3.76
Total	100.00

TIAA Separate Account VA-1    2006 Semiannual Report  |    9

Stock Index Account  |  U.S. stocks

PERFORMANCE

$10,000 over 10 years

An investment of $10,000 in this account on July 1, 1996, would have grown to $21,738 as of June 30, 2006, including reinvestment of dividends and distributions. For the purpose of comparison, the graph also shows the change in the account’s benchmark during the same period.

Calendar year total returns

Best quarter: 21.46%, for the quarter ended December 31, 1998

Worst quarter: –17.24%, for the quarter ended September 30, 2002

* Partial year

10    |  2006 Semiannual Report    TIAA Separate Account VA-1

Stock Index Account   Summary portfolio of investments (unaudited) June 30, 2006

	COMPANY		SHARES	VALUE (000)			% OF NET ASSETS
	PREFERRED STOCK
	PRIMARY METAL INDUSTRIES			$	0	^	0.00	%   **
	TOTAL PREFERRED STOCKS	(Cost $20)			0	^	0.00	**
	COMMON STOCKS
	AGRICULTURAL PRODUCTION-CROPS				36		0.00	**
	AGRICULTURAL PRODUCTION-LIVESTOCK				94		0.01
	AMUSEMENT AND RECREATION SERVICES				2,303		0.25
	APPAREL AND ACCESSORY STORES				6,286		0.69
	APPAREL AND OTHER TEXTILE PRODUCTS				1,671		0.18
	AUTO REPAIR, SERVICES AND PARKING				646		0.07
	AUTOMOTIVE DEALERS AND SERVICE STATIONS				1,564		0.17
	BUILDING MATERIALS AND GARDEN SUPPLIES
	Home Depot, Inc		136,544		4,887		0.53
	Other				3,788		0.42
					8,675		0.95
	BUSINESS SERVICES
*	Google, Inc (Class A)		13,464		5,646		0.62
	Microsoft Corp		572,160		13,331		1.45
*	Oracle Corp		256,249		3,713		0.40
	Other				42,085		4.59
					64,775		7.06
	CHEMICALS AND ALLIED PRODUCTS
	Abbott Laboratories		98,401		4,291		0.47
*	Amgen, Inc		76,159		4,968		0.54
	Eli Lilly & Co		63,394		3,504		0.38
	Merck & Co, Inc		140,709		5,126		0.56
	Pfizer, Inc		472,382		11,087		1.21
	Procter & Gamble Co		211,292		11,748		1.28
	Wyeth		86,765		3,853		0.42
	Other				39,304		4.29
					83,881		9.15
	COAL MINING				2,446		0.27
	COMMUNICATIONS
	AT&T, Inc		250,650		6,991		0.76
	BellSouth Corp		116,603		4,221		0.46
*	Comcast Corp (Class A)		125,596		4,112		0.45
	Sprint Nextel Corp		186,850		3,735		0.41
	Verizon Communications, Inc		188,077		6,299		0.69
	Other				17,338		1.89
					42,696		4.66
	DEPOSITORY INSTITUTIONS
	Bank of America Corp		294,212		14,152		1.54
	Citigroup, Inc		320,491		15,460		1.68
	JPMorgan Chase & Co		224,015		9,409		1.03
	US Bancorp		114,754		3,544		0.39
	Wachovia Corp		103,692		5,608		0.61

SEE NOTES TO FINANCIAL STATEMENTS TIAA Separate Account VA-1   2006 Semiannual Report   11

Stock Index Account   Summary portfolio of investments (unaudited) June 30, 2006 continued

	COMPANY	SHARES	VALUE (000)		% OF NET ASSETS
	DEPOSITORY INSTITUTIONS—(continued)
	Wells Fargo & Co	108,305	$	7,265	0.79	%
	Other			38,206	4.17
				93,644	10.21
	EATING AND DRINKING PLACES			8,582	0.94
	EDUCATIONAL SERVICES			1,270	0.14
	ELECTRIC, GAS, AND SANITARY SERVICES			37,221	4.06
	ELECTRONIC AND OTHER ELECTRIC EQUIPMENT
*	Cisco Systems, Inc	393,940		7,694	0.84
	Intel Corp	375,036		7,107	0.77
	Qualcomm, Inc	107,841		4,321	0.47
	Other			35,093	3.83
				54,215	5.91
	ENGINEERING AND MANAGEMENT SERVICES			7,522	0.82
	ENVIRONMENTAL QUALITY AND HOUSING			15	0.00	**
	FABRICATED METAL PRODUCTS			3,730	0.41
	FOOD AND KINDRED PRODUCTS
	Coca-Cola Co	131,382		5,652	0.61
	PepsiCo, Inc	106,537		6,396	0.70
	Other			14,831	1.62
				26,879	2.93
	FOOD STORES			2,429	0.26
	FORESTRY			1,163	0.13
	FURNITURE AND FIXTURES			3,122	0.34
	FURNITURE AND HOMEFURNISHINGS STORES			3,270	0.36
	GENERAL BUILDING CONTRACTORS			3,297	0.36
	GENERAL MERCHANDISE STORES
	Wal-Mart Stores, Inc	158,512		7,635	0.83
	Other			8,755	0.96
				16,390	1.79
	HEALTH SERVICES			14,669	1.60
	HEAVY CONSTRUCTION, EXCEPT BUILDING			136	0.01
	HOLDING AND OTHER INVESTMENT OFFICES
	iShares Russell 3000 Index Fund	51,000		3,759	0.41
	Other			23,576	2.57
				27,335	2.98
	HOTELS AND OTHER LODGING PLACES			4,649	0.51
	INDUSTRIAL MACHINERY AND EQUIPMENT
	3M Co	48,611		3,926	0.43
*	Dell, Inc	149,373		3,646	0.40
	Hewlett-Packard Co	180,675		5,724	0.62
	International Business Machines Corp	99,950		7,678	0.84
	Other			27,917	3.04
				48,891	5.33

12   2006 Semiannual Report   TIAA Separate Account VA-1 SEE NOTES TO FINANCIAL STATEMENTS

Stock Index Account   Summary portfolio of investments (unaudited) June 30, 2006 continued

COMPANY	SHARES	VALUE (000)		% OF NET ASSETS
INSTRUMENTS AND RELATED PRODUCTS
Johnson & Johnson	190,893	$	11,438	1.25	%
Medtronic, Inc	77,825		3,652	0.40
Other			22,237	2.42
			37,327	4.07
INSURANCE AGENTS, BROKERS AND SERVICE			3,933	0.43
INSURANCE CARRIERS
American International Group, Inc	142,011		8,386	0.91
UnitedHealth Group, Inc	86,842		3,889	0.42
Other			29,397	3.21
			41,672	4.54
JUSTICE, PUBLIC ORDER AND SAFETY			169	0.02
LEATHER AND LEATHER PRODUCTS			1,072	0.12
LEGAL SERVICES			104	0.01
LOCAL AND INTERURBAN PASSENGER TRANSIT			159	0.02
LUMBER AND WOOD PRODUCTS			352	0.04
METAL MINING			3,535	0.39
MISCELLANEOUS MANUFACTURING INDUSTRIES			1,819	0.20
MISCELLANEOUS RETAIL			10,931	1.19
MOTION PICTURES
Time Warner, Inc	270,540		4,680	0.51
Walt Disney Co	140,919		4,228	0.46
Other			3,583	0.39
			12,491	1.36
NONDEPOSITORY INSTITUTIONS
American Express Co	70,085		3,730	0.40
Other			12,354	1.35
			16,084	1.75
NONMETALLIC MINERALS, EXCEPT FUELS			758	0.08
OIL AND GAS EXTRACTION			22,109	2.41
PAPER AND ALLIED PRODUCTS			4,786	0.52
PERSONAL SERVICES			1,451	0.16
PETROLEUM AND COAL PRODUCTS
Chevron Corp	142,897		8,868	0.97
ConocoPhillips	106,411		6,973	0.76
Exxon Mobil Corp	390,061		23,930	2.61
Other			12,825	1.40
			52,596	5.74
PRIMARY METAL INDUSTRIES			9,488	1.03
PRINTING AND PUBLISHING			5,866	0.64
RAILROAD TRANSPORTATION			6,197	0.68
REAL ESTATE			1,183	0.13
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS			1,395	0.15

SEE NOTES TO FINANCIAL STATEMENTS TIAA Separate Account VA-1   2006 Semiannual Report   13

Stock Index Account   Summary portfolio of investments (unaudited) June 30, 2006 concluded

COMPANY		SHARES	VALUE (000)			% OF NET ASSETS
SECURITY AND COMMODITY BROKERS
Goldman Sachs Group, Inc		24,593	$	3,700		0.40	%
Merrill Lynch & Co, Inc		59,397		4,132		0.45
Morgan Stanley		69,053		4,365		0.48
Other				13,710		1.50
				25,907		2.83
SOCIAL SERVICES				124		0.01
SPECIAL TRADE CONTRACTORS				501		0.05
STONE, CLAY, AND GLASS PRODUCTS				825		0.09
TEXTILE MILL PRODUCTS				43		0.00	**
TOBACCO PRODUCTS
Altria Group, Inc		134,624		9,885		1.08
Other				861		0.09
				10,746		1.17
TRANSPORTATION BY AIR				4,848		0.53
TRANSPORTATION EQUIPMENT
Boeing Co		51,545		4,222		0.46
United Technologies Corp		65,167		4,133		0.45
Other				15,632		1.71
				23,987		2.62
TRANSPORTATION SERVICES				2,037		0.22
TRUCKING AND WAREHOUSING				4,749		0.52
WATER TRANSPORTATION				615		0.07
WHOLESALE TRADE-DURABLE GOODS
General Electric Co		670,389		22,096		2.41
Other				3,838		0.42
				25,934		2.83
WHOLESALE TRADE-NONDURABLE GOODS				7,182		0.78
TOTAL COMMON STOCKS	(Cost $678,504)			916,477		99.95
WARRANTS
COMMUNICATIONS				0	^	0.00	**
TOTAL WARRANTS	(Cost $0)			0	^	0.00	**
TOTAL PORTFOLIO	(Cost $678,524)			916,477		99.95
OTHER ASSETS & LIABILITIES, NET				497		0.05
NET ASSETS			$	916,974		100.00	%

* Non-income producing

** Percentage represents less than 0.01%

^ Amount represents less than $1,000

Cost amounts are in thousands.

For ease of presentation, we have grouped a number of industry classification categories together in the Summary portfolio of investments. Note that the Accounts use more specific industry categories in following their investment limitations on industry concentration.

14   2006 Semiannual Report   TIAA Separate Account VA-1 SEE NOTES TO FINANCIAL STATEMENTS

Statement of assets and liabilities (unaudited) TIAA Separate Account VA-1 June 30, 2006

(amounts in thousands, except amount per accumulation unit)	Stock Index Account
ASSETS
Investments, at cost	$	678,524
Net unrealized appreciation of investments		237,953
Investments, at value		916,477
Dividends and interest receivable		1,040
Receivable from securities transactions		20,174
Total assets		937,691
LIABILITIES
Due to custodian		71
Payable for securities transactions		19,964
Amounts due to TIAA/TIAA-CREF Life and related entities		682
Total liabilities		20,717
NET ASSETS
Accumulation Fund	$	916,974
Accumulation units outstanding—Notes 4 and 5		11,194
Net asset value per accumulation unit—Note 4		$81.91

SEE NOTES TO FINANCIAL STATEMENTS TIAA Separate Account VA-1   2006 Semiannual Report   15

Statement of operations (unaudited) TIAA Separate Account VA-1 Six months ended June 30, 2006

(amounts in thousands)	Stock Index Account
INVESTMENT INCOME
Income:
Interest	$	8
Dividends		8,444
Total income		8,452
EXPENSES—Note 2:
Investment advisory charges		1,400
Administrative expenses		944
Mortality and expense risk charges		1,866
Total expenses before waiver		4,210
Investment advisory charges waived		(1,079	)
Net expenses		3,131
Investment income—net		5,321
REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS—Note 3
Net realized gain (loss) on:
Portfolio investments		13,217
Futures transactions		(4	)
Net realized gain on total investments		13,213
Net change in unrealized appreciation on:
Portfolio investments		8,506
Futures transactions		6
Net change in unrealized appreciation on total investments		8,512
Net realized and unrealized gain on total investments		21,725
Net increase in net assets resulting from operations	$	27,046

16 2006 Semiannual Report   TIAA separate Account VA-1 SEE NOTES TO FINANCIAL STATEMENTS

Statements of changes in net assets   TIAA Separate Account VA-1

	Stock Index Account
(amounts in thousands)	Six Months Ended June 30, 2006			Year Ended December 31, 2005
	(Unaudited)
FROM OPERATIONS
Investment income—net	$	5,321		$	10,066
Net realized gain on investments		13,213			10,192
Net change in unrealized appreciation on investments		8,512			27,374
Net increase in net assets resulting from operations		27,046			47,632
FROM CONTRACTOWNER TRANSACTIONS
Premiums		9,356			26,572
Net contractowner transfers from (to) fixed account		(11,895	)		(18,712	)
Withdrawals and death benefits		(30,734	)		(47,769	)
Net increase (decrease) in net assets resulting from contractowner transactions		(33,273	)		(39,909	)
Net decrease in net assets		(6,227	)		7,723
NET ASSETS
Beginning of year		923,201			915,478
End of period	$	916,974		$	923,201

SEE NOTES TO FINANCIAL STATEMENTS TIAA Separate Account VA-1   2006 Semiannual Report   17

Notes to financial statements (unaudited) TIAA Separate Account VA-1 Stock Index Account

Note 1—significant accounting policies

TIAA Separate Account VA-1 (“VA-1”) is a segregated investment account of Teachers Insurance and Annuity Association of America (“TIAA”) and was organized on February 16, 1994, under the insurance laws of the State of New York for the purpose of issuing and funding individual variable annuity contracts. VA-1 is registered with the Securities and Exchange Commission as an open-end management investment company under the Investment Company Act of 1940. VA-1 consists of a single investment portfolio, the Stock Index Account (“Account”), which invests in a diversified portfolio of equity securities selected to track the overall United States stock market. The accompanying financial statements were prepared in accordance with U.S. generally accepted accounting principles, which may require the use of estimates made by management. Actual results may differ from those estimates. The following is a summary of the significant accounting policies consistently followed by the Account.

Valuation of investments:  Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. Debt securities will generally be valued using prices provided by a pricing service, which may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Money market instruments with maturities of 60 days or less are valued on an amortized cost basis or at market value if market value is materially different from amortized cost. Portfolio securities for which market quotations are not readily available are valued at fair value as determined in good faith under the direction of and in accordance with the responsibilities of the Management Committee. Portfolio securities may also be valued at fair value as determined in good faith under the direction of the Management Committee if events materially affecting their value occur between the time their price is determined and the time the Account’s net asset value is calculated. The fair value of securities may be determined with the assistance of a pricing service, which attempts to calculate a fair value for securities based on numerous factors including correlations of a security’s price with securities’ indices and other appropriate indicators, such as American Depositary Receipts and futures contracts. Other factors may also be considered in determining fair value, such as fundamental analytical data, market and trading trends, and public trading of similar securities of the issuer or comparable issuers. Trading in securities on most foreign exchanges and over the counter markets is normally completed before the close of the domestic stock market and may also take place on days when the domestic market is closed. If events materially affecting the value of foreign securities occur between the time when the exchange on which they are traded closes and the time when the Account’s net assets are calculated, such securities may be valued at fair value in accordance with procedures adopted by the Management Committee.

18   2006 Semiannual Report   TIAA Separate Account VA-1

Notes to financial statements (unaudited) continued

Accounting for investments and investment income:  Security transactions are accounted for as of the trade date. Interest income is recorded as earned and includes amortization of discounts and premiums. Dividend income is recorded on the ex-dividend date or, for certain foreign securities, as soon thereafter as the Account is informed of the ex-dividend date. Realized gains and losses on security transactions are calculated on the identified cost basis.

Accounting for real estate investment trusts:  The Account may own shares of Real Estate Investment Trusts (“REITs”). REITs report information on the source of their distributions once per year, in January. Such distributions may include one or more of the following components: ordinary income, long-term capital gains or a return of capital. The Account has estimated what the components of these REITs distributions are and have reflected these amounts accordingly in the financial statements.

Futures contracts:  The Account may use futures contracts to manage exposure to the equity markets or for cash management purposes to remain highly invested in the equity markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract and variation margin payments are made or received reflecting changes in the value of the futures contracts. Futures contracts are valued at the last sale price as of the close of the board of trade or exchange on which they are traded. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts, or if the counterparties do not perform in accordance with contractual provisions.

Risks of investments in futures contracts include the possible adverse movement of the securities or indices underlying the contracts, the possibility that there may not be a liquid secondary market for the contracts, that a change in the value of the contract may not correlate with a change in the value of the underlying securities, or that the counterparty to a contract may default on its obligation to perform.

Federal income taxes:  VA-1 is taxed as a life insurance company under Subchapter L of the Internal Revenue Code. VA-1 should incur no material federal income tax liability.

Investment transactions with affiliates:  The Account may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Management Committee, pursuant to the Investment Company Act of 1940. These transactions are effected at market rates without incurring broker commissions.

Indemnification:  In the normal course of business, the Account enters into contracts that contain a variety of representations and warranties and that provide general indemnities. The Account’s maximum exposure under these arrangements is unknown, as this would involve future claims against the Account that have not

TIAA Separate Account VA-1   2006 Semiannual Report   19

Notes to financial statements (unaudited) continued

yet occurred. Also, under the Account’s organizational documents, the Members and Officers of the TIAA Separate Account VA-1 are indemnified against certain liabilities that may arise out of their duties to the TIAA Separate Account VA-1. However, based on experience, the Account expects the risk of loss due to these warranties and indemnities to be minimal.

Note 2—management agreements

Teachers Advisors, Inc. (“Advisors”), a wholly owned subsidiary of TIAA and a registered investment adviser, provides investment advisory services for VA-1 pursuant to an Investment Management Agreement among TIAA, Advisors and VA-1. TIAA provides all administrative services for VA-1 pursuant to an Administrative Services Agreement with VA-1. The contracts are distributed primarily by Teachers Personal Investors Services, Inc. (“TPIS”), also a wholly owned subsidiary of TIAA, which is a registered broker-dealer and a member of the National Association of Securities Dealers, Inc. The Investment Management Agreement sets the investment advisory charge at an annual rate of 0.30% of the net assets of the Account. Advisors has agreed to waive a portion of such fee, so that the daily deduction is equivalent to an annual charge of 0.07% of the net assets of the Account. The Administrative Services Agreement sets the administrative expense charge at an annual rate of 0.20% of the net assets of the Account. TIAA also imposes a daily charge for bearing certain mortality and expense risks in connection with the contracts, equivalent to an annual rate of 0.40% of the net assets of the Account (prior to July 1, 2003, this daily charge was 0.10%).

Note 3—investments

At June 30, 2006, the net unrealized appreciation on investments was $237,952,913, consisting of gross unrealized appreciation of $317,111,375 and gross unrealized depreciation of $79,158,462.

Purchases and sales of securities, other than short-term money market instruments, for the six months ended June 30, 2006, were $43,930,311 and $71,482,862, respectively.

20   2006 Semiannual Report   TIAA Separate Account VA-1

Notes to financial statements (unaudited) continued

Note 4—financial information

Selected financial information for an Accumulation Unit of the Account is presented below.

	Six Months Ended June 30, 2006 (a)			Years Ended December 31,
				2005			2004			2003			2002			2001
	(Unaudited)
Per Accumulation Unit data:*
Investment income	$	0.748		$	1.378		$	1.359		$	1.041		$	0.965		$	0.916
Expenses		0.277			0.519			0.468			0.310			0.218			0.253
Investment income—net		0.471			0.859			0.891			0.731			0.747			0.663
Net realized and unrealized gain (loss) on investments		1.844			3.222			6.727			15.066			(15.200	)		(9.499	)
Net increase (decrease) in Accumulation Unit Value		2.315			4.081			7.618			15.797			(14.453	)		(8.836	)
Accumulation Unit Value:
Beginning of year		79.599			75.518			67.900			52.103			66.556			75.392
End of period	$	81.914		$	79.599		$	75.518		$	67.900		$	52.103		$	66.556
TOTAL RETURN		2.91	%		5.40	%		11.22	%		30.32	%		(21.72	%)		(11.72	%)
Ratio of expense to average net assets before expense waiver**		0.45	%		0.90	%		0.90	%		0.76	%		0.60	%		0.60	%
Ratio of expense to average net assets after expense waiver**		0.33	%		0.67	%		0.67	%		0.53	%		0.37	%		0.37	%
Ratio of net investment income to average net assets**		0.57	%		1.12	%		1.28	%		1.26	%		1.27	%		0.97	%
Portfolio turnover rate		4.68	%		6.37	%		4.90	%		4.14	%		5.33	%		9.86	%
Accumulation Units outstanding at end of period (in thousands)		11,194			11,598			12,123			12,176			11,801			12,517
Net assets at end of period (in thousands)	$	916,974		$	923,201		$	915,478		$	826,747		$	614,853		$	833,099

* Based on per accumulation unit data

** Based on average net assets

(a) The percentages shown for this period are not annualized.

TIAA Separate Account VA-1   2006 Semiannual Report   21

Notes to financial statements (unaudited) concluded

Note 5—accumulation units

Changes in the number of Accumulation Units outstanding were as follows:

	Six Months Ended June 30, 2006		Year Ended December 31, 2005
	(Unaudited)
Accumulation Units:
Credited for premiums	113,636		347,776
Cancelled for transfers and disbursements	(517,431	)	(873,162	)
Outstanding:
Beginning of year	11,598,107		12,123,493
End of period	11,194,312		11,598,107

Note 6—line of credit

The Account participates in a $1.75 billion unsecured revolving credit facility to be used for temporary purposes, including the funding of contract owner withdrawals. Certain affiliated accounts and mutual funds, each of which is managed by Advisors, or an affiliate of Advisors, also participate in this facility. An annual commitment fee for the credit facility is borne by Advisors. Interest associated with any borrowing under the facility by the Account is charged to the borrowing Accounts at rates that are based on the Federal Funds Rate in effect during the time of the borrowing. The Account is not liable for borrowings under the facility by affiliated accounts or mutual funds. During the six months ended June 30, 2006, the Account did not borrow under this facility.

Note 7–subsequent event

On July 27, 2006, the TIAA Separate Account VA-1 entered into a four year agreement with State Street Bank and Trust Company to engage in securities lending transactions. Under the terms of the agreement, the Account may lend portfolio securities to qualified borrowers consisting of financial institutions and brokers. By lending such securities, the Account will attempt to increase its net investment income through the receipt of interest on collateral (after rebates and fees). The loans will be secured by collateral equal to at least 102% of the market value of the securities loaned for U.S. securities and 105% of the market value of the securities loaned for foreign securities. All cash collateral will be invested in the State Street Bank Navigator Securities Lending Prime Portfolio.

22   2006 Semiannual Report   TIAA Separate Account VA-1

Management committee approval of investment management agreement

The Management Committee is responsible for overseeing the separate account’s corporate policies and for adhering to fiduciary standards under the Investment Company Act of 1940. Most significantly, the Management Committee is responsible for the initial approval and annual renewal of the separate account’s investment management agreement (the “Management Agreement”) with Teachers Advisors, Inc. (“Advisors”).

In considering whether to renew the Management Agreement, the Committee, at its April 3, 2006 and May 16, 2006 meetings, reviewed the following factors: (1) the nature, extent and quality of services provided by Advisors to the separate account; (2) the investment performance of the separate account; (3) the costs of the services provided to the separate account and the profits realized or to be realized by Advisors and its affiliates from their relationship with the separate account; (4) the extent to which economies of scale have been realized as the separate account grows; (5) whether the level of fees reflects those economies of scale for the benefit of separate account investors; (6) comparisons of services and fees with contracts entered into by Advisors with other clients; and (7) any other benefits derived or anticipated to be derived by Advisors from its relationship with the separate account. The factors should be viewed in their totality, with no single factor being the principal factor in determining whether to approve the renewal of the Management Agreement.

Set forth below are the general factors the Committee considered for the separate account:

The Nature, Extent and Quality of Services. The Committee considered that Advisors is an experienced investment adviser that has managed the TIAA-CREF Mutual Funds since 1997, the TIAA-CREF Institutional Mutual Funds and TIAA-CREF Life Funds since 1999. The investment professionals of Advisors have also managed various accounts of the College Retirement Equities Fund (“CREF”) since their inception. Under the Management Agreement, Advisors is responsible for managing the assets of the separate account, including conducting research; recommending investments and placing orders to buy and sell securities for the separate account; active and extensive monitoring of the separate account daily by various personnel with specific responsibility for the particular type of investment in question; and reporting on the investment performance of the separate account to the Committee at its scheduled meetings. The Committee considered that Advisors has carried out these responsibilities in a highly professional manner.

Performance. The Committee considered the performance of the separate account over the past year and since inception and the separate account’s performance as compared to its peer group and benchmark index. The Committee considered the comparative performance and expense data for the separate account prepared by an independent third party, Lipper, Inc.’s Global Fiduciary Review unit (“Lipper”), as well as performance against its performance benchmark. In looking at this data, the Committee considered the following factors:

Ÿ The separate account’s contractual management fee is 0.30%. Advisors proposed that the separate account’s actual management fee, after waivers, be 0.07%.

TIAA Separate Account VA-1   2006 Semiannual Report   23

Management committee approval of investment management agreement concluded

Ÿ The separate account’s management fees are in the 1st quintile of its Expense Universe.

Ÿ The separate account has underperformed its benchmark over the one-, three-, five- and ten-year periods.

Ÿ As of 12/31/2005, the separate account was in the 4th quintile of its Performance Universe for the one-, two, three- and five-year periods, respectively. The separate account was in the 3rd quintile of its Performance Universe for the four- and ten-year periods.

Ÿ The separate account received an Overall Morningstar Rating of three stars for the one-year period ended 12/31/05.

Ÿ The separate account’s longer-term performance was affected by the amount of cash held. The separate account’s manager introduced a maximum cash balance target of 10 basis points in late 2004.

Cost and Profitability. The Committee considered the materials it received reflecting Advisors’ revenues for providing investment management and other services to the separate account. The Committee considered that the separate account resulted in a modest net gain to Advisors for the period ended December 31, 2005.

Fees Charged by Other Advisers. The Committee considered information regarding fees paid to other advisers for managing similar accounts. The Committee received comparative fee information for comparable peer group accounts prepared by Lipper. The Committee considered that the proposed advisory fee to be paid to Advisors for its services to the separate account compared favorably to the advisory fees charged to other comparable accounts (in the first quintile of its Expense Universe). The Committee considered that, for the most part, the fees under Advisors’ current Management Agreement with the separate account are lower than those of the peer group funds identified by Lipper.

Economies of Scale. Since this is an index fund and the management fees are low, the Committee did not consider economies of scale in assessing the Management Agreement.

Fee Comparison with Other Advisors’ Clients. The Committee considered that Advisors provides similar investment management services to each of the TIAA-CREF Institutional Mutual Funds, the TIAA-CREF Mutual Funds and TIAA-CREF Life Funds, although distribution channels differ. In addition, Advisors, through its TIAA-CREF Asset Management (TCAM) division, manages large institutional client assets through unregistered commingled funds and separate accounts with similar investment strategies and investment staff. The Committee considered the schedule of fees for the comparable funds, and the fact that the fees Advisors charges are only slightly higher than Advisors’ comparable funds.

Other Benefits. Advisors and its affiliates may benefit from the advisory relationship with the separate account to the extent this relationship results in potential investors viewing the TIAA-CREF group of companies as a leading retirement plan provider in the academic and nonprofit market and a single source for all their financial service needs. Also, certain investment portfolios managed by Advisors are managed in the same manner and by the same personnel as the separate account, resulting in the possibility for benefits associated with economies of scale.

24   2006 Semiannual Report   TIAA Separate Account VA-1

HOW TO REACH US

TIAA-CREF WEBSITE   Account performance, personal account information and transactions, product descriptions, and information about investment choices and income options   www.tiaa-cref.org 24 hours a day, 7 days a week   AUTOMATED TELEPHONE SERVICE   Check account performance and accumulation balances, change allocations, transfer funds and verify credited premiums.   800 842-2252 24 hours a day, 7 days a week   TELEPHONE COUNSELING CENTER   Retirement saving and planning, income options and payments, and tax reporting   800 842-2776 8 a.m. to 10 p.m. ET, Monday–Friday 9 a.m. to 6 p.m. ET, Saturday PLANNING AND SERVICE CENTER   TIAA-CREF Mutual Funds, after-tax annuities and life insurance   800 223-1200 8 a.m. to 10 p.m. ET, Monday–Friday   FOR HEARING- OR SPEECH-IMPAIRED PARTICIPANTS   800 842-2755 8 a.m. to 10 p.m. ET, Monday–Friday 9 a.m. to 6 p.m. ET, Saturday   TIAA-CREF TRUST COMPANY, FSB   Asset management, trust administration, estate planning, planned giving and endowment management   888 842-9001 8 a.m. to 5 p.m. CT, Monday–Friday   TIAA-CREF TUITION FINANCING, INC.   Tuition financing programs   888 381-8283 8 a.m. to 11 p.m. ET, Monday–Friday

TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., distribute securities products. You should consider the investment objectives, risks, charges and expenses carefully before investing. Please call 800 223-1200 for a prospectus that contains this and other information. Please read the prospectus carefully before investing. Teachers Insurance and Annuity Association (TIAA), New York, NY, and TIAA-CREF Life Insurance Co., New York, NY, issue insurance and annuities. TIAA-CREF Trust Company, FSB, provides trust services. TIAA-CREF Tuition Financing, Inc. (TFI) is the program manager for 529 college savings plans. Investment products are not FDIC insured, may lose value and are not bank guaranteed.

©2006 Teachers Insurance and Annuity Association—College Retirement Equities Fund (TIAA-CREF), New York, NY 10017

730 Third Avenue

New York, NY 10017-3206

Printed on recycled paper
	A10938
C36288	8/06

Item 2. Code of Ethics.

The Management Committee of TIAA Separate Account VA-1 (the “Registrant”) has a code of ethics for senior financial officers, including its principal executive officer, principal financial officer, principal accounting officer, or controller, and persons performing similar functions, in conformity with rules promulgated under the Sarbanes-Oxley Act of 2002.

During the reporting period, there were no implicit or explicit waivers granted by the Registrant from any provision of the code of ethics.

Item 3. Audit Committee Financial Expert.

There is no change to the Audit Committee Financial Expert.

Item 4. Principal Accountant Fees and Services.

Not applicable for semi-annual reports.

Item 5. Audit Committee of Listed Registrants.

Not Applicable.

Item 6. Schedule of Investments.

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

TIAA SEPARATE ACCOUNT VA-1

STOCK INDEX ACCOUNT

STATEMENT OF INVESTMENTS (Unaudited)

June 30, 2006

SHARES			VALUE (000)
PREFERRED STOCK - 0.00% **
PRIMARY METAL INDUSTRIES - 0.00% **
25,150	v*	Superior Trust I	$	—	^
		TOTAL PRIMARY METAL INDUSTRIES		—	^
		TOTAL PREFERRED STOCKS (Cost $20)		—	^
COMMON STOCKS - 99.95%
AGRICULTURAL PRODUCTION-CROPS - 0.00% **
2,584		Chiquita Brands International, Inc		36
		TOTAL AGRICULTURAL PRODUCTION-CROPS		36
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.01%
2,370		Pilgrim’s Pride Corp		61
26		Seaboard Corp		33
		TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK		94
AMUSEMENT AND RECREATION SERVICES - 0.25%
3,321	*	Bally Technologies, Inc		55
2,424	*	Bally Total Fitness Holding Corp		16
1,293	*	Century Casinos, Inc		14
433		Churchill Downs, Inc		16
978		Dover Downs Gaming & Entertainment, Inc		19
967		Dover Motorsports, Inc		6
8,214		GTECH Holdings Corp		286
11,914		Harrah’s Entertainment, Inc		848
2,272		International Speedway Corp (Class A)		105
1,482	*	Lakes Entertainment, Inc		18
1,909	*	Leapfrog Enterprises, Inc		19
1,967	*	Life Time Fitness, Inc		91
4,417	*	Live Nation, Inc		90
3,185	*	Magna Entertainment Corp (Class A)		17
3,301	*	Marvel Entertainment, Inc		66
1,437	*	MTR Gaming Group, Inc		13
1,472	*	Multimedia Games, Inc		15
4,563	*	Penn National Gaming, Inc		177
3,031	*	Pinnacle Entertainment, Inc		93
4,554	*	Six Flags, Inc		25
1,000		Speedway Motorsports, Inc		38
5,856		Warner Music Group Corp		172
4,762		Westwood One, Inc		36
1,562	*	WMS Industries, Inc		43
1,461		World Wrestling Entertainment, Inc		25
		TOTAL AMUSEMENT AND RECREATION SERVICES		2,303
APPAREL AND ACCESSORY STORES - 0.69%
5,601		Abercrombie & Fitch Co (Class A)		310
3,628	*	Aeropostale, Inc		105
7,368		American Eagle Outfitters, Inc		251
4,758	*	AnnTaylor Stores Corp		206
1,533		Bebe Stores, Inc		24
1,896		Brown Shoe Co, Inc		65
500		Buckle, Inc		21
664	*	Cache, Inc		11
3,130	*	Carter’s, Inc		83
2,400	*	Casual Male Retail Group, Inc		24
2,074		Cato Corp (Class A)		54
806	*	Charlotte Russe Holding, Inc		19

1

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
7,700	*	Charming Shoppes, Inc	$	86
11,568	*	Chico’s FAS, Inc		312
1,410	*	Children’s Place Retail Stores, Inc		85
2,493		Christopher & Banks Corp		72
404	*	Citi Trends, Inc		17
6,369		Claire’s Stores, Inc		162
290		DEB Shops, Inc		7
3,000	*	Dress Barn, Inc		76
1,051	*	DSW, Inc		38
2,704		Finish Line, Inc (Class A)		32
10,029		Foot Locker, Inc		246
34,678		Gap, Inc		603
3,222	*	HOT Topic, Inc		37
1,539	*	Jo-Ann Stores, Inc		23
1,141	*	JOS A Bank Clothiers, Inc		27
22,169	*	Kohl’s Corp		1,311
21,985		Limited Brands, Inc		563
888	*	New York & Co, Inc		9
15,124		Nordstrom, Inc		552
4,702	*	Pacific Sunwear Of California, Inc		84
4,407	*	Payless Shoesource, Inc		120
9,432		Ross Stores, Inc		265
517	*	Shoe Carnival, Inc		12
1,898		Stage Stores, Inc		63
1,200		Talbots, Inc		22
4,270	*	The Wet Seal, Inc		21
2,189	*	Too, Inc		84
1,345	*	Under Armour, Inc		57
7,238	*	Urban Outfitters, Inc		127
		TOTAL APPAREL AND ACCESSORY STORES		6,286
APPAREL AND OTHER TEXTILE PRODUCTS - 0.18%
1,062	*	Columbia Sportswear Co		48
1,418	v*	DHB Industries, Inc		3
1,351	*	Guess ?, Inc		56
2,122	*	Gymboree Corp		74
1,589	*	Hartmarx Corp		10
7,370		Jones Apparel Group, Inc		234
1,658		Kellwood Co		49
6,744		Liz Claiborne, Inc		250
927	*	Maidenform Brands, Inc		11
3,569		Phillips-Van Heusen Corp		136
3,780		Polo Ralph Lauren Corp		207
7,612	*	Quiksilver, Inc		93
2,227		Russell Corp		40
836	*	True Religion Apparel, Inc		15
5,673		VF Corp		385
3,191	*	Warnaco Group, Inc		60
		TOTAL APPAREL AND OTHER TEXTILE PRODUCTS		1,671
AUTO REPAIR, SERVICES AND PARKING - 0.07%
646	*	Amerco, Inc		65
700		Bandag, Inc		26
1,061		Central Parking Corp		17
1,736	*	Dollar Thrifty Automotive Group, Inc		78
1,073	*	Midas, Inc		20
582		Monro Muffler, Inc		19
3,583	*	PHH Corp		99
4,029		Ryder System, Inc		235
336	*	Standard Parking Corp		9
2,709	*	Wright Express Corp		78
		TOTAL AUTO REPAIR, SERVICES AND PARKING		646
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.17%
6,837		Advance Auto Parts		198
409	*	America’s Car-Mart, Inc		8
1,053	*	Asbury Automotive Group, Inc		22

2

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
9,207	*	Autonation, Inc	$	197
3,556	*	Autozone, Inc		314
6,845	*	Carmax, Inc		243
4,651	*	Copart, Inc		114
3,233	*	CSK Auto Corp		39
1,061		Lithia Motors, Inc (Class A)		32
1,048	*	MarineMax, Inc		27
7,289	*	O’Reilly Automotive, Inc		227
1,413	*	Rush Enterprises, Inc (Class A)		26
1,793		Sonic Automotive, Inc		40
3,620		United Auto Group, Inc		77
		TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS		1,564
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.95%
967	*	Builders FirstSource, Inc		20
1,294	*	Central Garden & Pet Co		56
8,103		Fastenal Co		326
136,544		Home Depot, Inc		4,887
50,022		Lowe’s Cos, Inc		3,035
7,402		Sherwin-Williams Co		351
		TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES		8,675
BUSINESS SERVICES - 7.06%
4,013	*	@Road, Inc		22
3,100	*	24/7 Real Media, Inc		27
25,632	*	3Com Corp		131
813	*	3D Systems Corp		16
2,635		Aaron Rents, Inc		71
2,600		ABM Industries, Inc		44
1,806	*	Acacia Research (Acacia Technologies)		25
860	*	Access Integrated Technologies, Inc		8
17,680	*	Activision, Inc		201
3,677	*	Actuate Corp		15
5,607		Acxiom Corp		140
1,377		Administaff, Inc		49
38,722	*	Adobe Systems, Inc		1,176
1,728	*	Advent Software, Inc		62
2,039		Advo, Inc		50
7,216	*	Affiliated Computer Services, Inc (Class A)		372
3,625	*	Agile Software Corp		23
9,967	*	Akamai Technologies, Inc		361
5,254	*	Alliance Data Systems Corp		309
1,445	*	Altiris, Inc		26
1,676	*	American Reprographics Co		61
2,116	*	AMN Healthcare Services, Inc		43
872	*	Ansoft Corp		18
2,094	*	Ansys, Inc		100
4,915	*	aQuantive, Inc		124
2,100		Arbitron, Inc		80
4,191	*	Ariba, Inc		34
7,187	*	Art Technology Group, Inc		21
3,355	*	Aspen Technology, Inc		44
1,058	*	Asset Acceptance Capital Corp		21
1,632	*	Audible, Inc		15
14,753	*	Autodesk, Inc		508
37,520		Automatic Data Processing, Inc		1,702
3,323	*	Avocent Corp		87
631	*	Bankrate, Inc		24
436	*	Barrett Business Services		8
25,131	*	BEA Systems, Inc		329
12,324	*	BearingPoint, Inc		103
8,366	*	BISYS Group, Inc		115
2,836		Blackbaud, Inc		64
1,799	*	Blackboard, Inc		52
623	*	Blue Coat Systems, Inc		11
13,803	*	BMC Software, Inc		330

3

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
5,613	*	Borland Software Corp	$	30
862	*	Bottomline Technologies, Inc		7
2,775		Brady Corp (Class A)		102
3,145		Brink’s Co		177
29,251		CA, Inc		601
2,042	*	CACI International, Inc (Class A)		119
17,820	*	Cadence Design Systems, Inc		306
3,009		Catalina Marketing Corp		86
5,421	*	CBIZ, Inc		40
64,509		Cendant Corp		1,051
9,998	*	Ceridian Corp		244
4,020	*	Cerner Corp		149
5,498	*	Checkfree Corp		272
5,766	*	ChoicePoint, Inc		241
5,013	*	Chordiant Software, Inc		15
3,700	*	Ciber, Inc		24
11,754	*	Citrix Systems, Inc		472
2,400	*	Clear Channel Outdoor Holdings, Inc		50
574	*	Click Commerce, Inc		11
32,439	*	CMGI, Inc		39
9,641	*	CNET Networks, Inc		77
1,329	*	Cogent Communications Group, Inc		12
2,800	*	Cogent, Inc		42
2,776		Cognex Corp		72
9,097	*	Cognizant Technology Solutions Corp		613
602		Computer Programs & Systems, Inc		24
12,030	*	Computer Sciences Corp		583
25,157	*	Compuware Corp		169
839	*	COMSYS IT Partners, Inc		13
2,071	*	Concur Technologies, Inc		32
1,794	*	Convera Corp		12
9,200	*	Convergys Corp		179
1,115	*	CoStar Group, Inc		67
2,097	*	Covansys Corp		26
3,076	*	CSG Systems International, Inc		76
1,899	*	Cybersource Corp		22
677	*	DealerTrack Holdings, Inc		15
3,468		Deluxe Corp		61
2,509	*	Dendrite International, Inc		23
2,396	*	Digital Insight Corp		82
2,557	*	Digital River, Inc		103
3,904	*	DST Systems, Inc		232
7,927	*	Earthlink, Inc		69
75,916	*	eBay, Inc		2,224
1,800	*	Echelon Corp		13
2,891	*	Eclipsys Corp		53
1,105	*	eCollege.com, Inc		23
3,097	*	eFunds Corp		68
1,000	*	Electro Rent Corp		16
19,593	*	Electronic Arts, Inc		843
33,420		Electronic Data Systems Corp		804
947	*	Emageon, Inc		14
18,215	*	Emdeon Corp		226
3,541	*	Epicor Software Corp		37
857	*	EPIQ Systems, Inc		14
8,447		Equifax, Inc		290
1,853	*	Equinix, Inc		102
1,565	*	eSpeed, Inc (Class A)		13
14,786	*	Expedia, Inc		221
2,622	*	F5 Networks, Inc		140
2,695		Factset Research Systems, Inc		127
4,248		Fair Isaac Corp		154
2,479	*	FalconStor Software, Inc		17
6,372		Fidelity National Information Services, Inc		226
2,707	*	Filenet Corp		73

4

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
200	*	First Advantage Corp	$	5
49,611		First Data Corp		2,234
11,447	*	Fiserv, Inc		519
983	*	Forrester Research, Inc		28
923	*	FTD Group, Inc		12
3,725	*	Gartner, Inc (Class A)		53
1,444	*	Gerber Scientific, Inc		19
3,278	*	Getty Images, Inc		208
1,647		Gevity HR, Inc		44
2,144	*	Global Cash Access, Inc		34
13,464	*	Google, Inc (Class A)		5,646
739	*	H&E Equipment Services, Inc		22
1,500		Healthcare Services Group		31
912	*	Heartland Payment Systems, Inc		25
1,329	*	Heidrick & Struggles International, Inc		45
1,384	*	Hudson Highland Group, Inc		15
3,542	*	Hypercom Corp		33
3,904	*	Hyperion Solutions Corp		108
947	*	i2 Technologies, Inc		12
448	*	ICT Group, Inc		11
1,449	*	iGate Corp		9
1,500	*	IHS, Inc		44
13,011		IMS Health, Inc		349
1,090	*	Infocrossing, Inc		13
5,959	*	Informatica Corp		78
2,218	*	Infospace, Inc		50
1,967		infoUSA, Inc		20
727	*	Innovative Solutions & Support, Inc		10
696		Integral Systems, Inc		19
2,541	*	Interactive Data Corp		51
1,762	*	Intergraph Corp		55
19,565	*	Internap Network Services Corp		21
2,646	*	Internet Capital Group, Inc		24
2,744	*	Internet Security Systems, Inc		52
529		Interpool, Inc		12
27,952	*	Interpublic Group of Cos, Inc		233
3,184	*	Interwoven, Inc		27
11,219	*	Intuit, Inc		678
1,814	*	inVentiv Health, Inc		52
3,071	*	Ipass, Inc		17
7,238	*	Iron Mountain, Inc		271
5,126		Jack Henry & Associates, Inc		101
1,953	*	JDA Software Group, Inc		27
36,184	*	Juniper Networks, Inc		579
1,087	*	Jupitermedia Corp		14
1,680	*	Kanbay International, Inc		24
2,787	*	Keane, Inc		35
1,200		Kelly Services, Inc (Class A)		33
1,023	*	Kenexa Corp		33
1,774	*	Kforce, Inc		27
4,575	*	KFX, Inc		70
2,862	*	Kinetic Concepts, Inc		126
917	*	Knot, Inc		19
2,700	*	Korn/Ferry International		53
2,052	*	Kronos, Inc		74
3,529	*	Labor Ready, Inc		80
5,467	*	Lamar Advertising Co		294
7,959	*	Lawson Software, Inc		53
3,238	*	Lionbridge Technologies		18
511	*	Liquidity Services, Inc		8
1,120	*	LoJack Corp		21
2,311	*	Magma Design Automation, Inc		17
2,098	*	Manhattan Associates, Inc		43
5,653		Manpower, Inc		365
1,171	*	Mantech International Corp (Class A)		36

5

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,404	*	Mapinfo Corp	$	18
1,311	*	Marchex, Inc		22
774	*	Marlin Business Services, Inc		17
3,945	*	Mastercard, Inc		189
10,331	*	McAfee, Inc		251
4,700	*	Mentor Graphics Corp		61
572,160		Microsoft Corp		13,331
648	*	MicroStrategy, Inc		63
2,315	*	Midway Games, Inc		19
5,601		MoneyGram International, Inc		190
7,976	*	Monster Worldwide, Inc		340
7,360	*	Move, Inc		40
6,206	*	MPS Group, Inc		93
1,100	*	MRO Software, Inc		22
6,028	*	NAVTEQ Corp		269
1,879	*	NCO Group, Inc		50
11,741	*	NCR Corp		430
1,262	*	Neoware, Inc		16
1,235	*	Ness Technologies, Inc		13
2,427	*	NetFlix, Inc		66
3,593	*	NetIQ Corp		44
679	*	Netratings, Inc		9
1,000	*	Netscout Systems, Inc		9
1,732	*	NIC, Inc		13
21,820	*	Novell, Inc		145
8,571	*	Nuance Communications, Inc		86
11,029		Omnicom Group, Inc		983
1,673	*	On Assignment, Inc		15
1,415	*	Online Resources Corp		15
1,309	*	Open Solutions, Inc		35
835	*	Opnet Technologies, Inc		11
5,080	*	Opsware, Inc		42
256,249	*	Oracle Corp		3,713
2,281	*	Packeteer, Inc		26
7,453	*	Parametric Technology Corp		95
860	*	PDF Solutions, Inc		11
438		Pegasystems, Inc		3
1,196	*	PeopleSupport, Inc		16
1,107	*	Perficient, Inc		14
5,518	*	Perot Systems Corp (Class A)		80
2,169	*	Phase Forward, Inc		25
1,058	*	Portfolio Recovery Associates, Inc		48
863	*	PRA International		19
4,849	*	Premiere Global Services, Inc		37
2,510	*	Progress Software Corp		59
1,000		QAD, Inc		8
884		Quality Systems, Inc		33
4,302	*	Quest Software, Inc		60
1,505	*	Radiant Systems, Inc		16
1,200	*	Radisys Corp		26
6,912	*	RealNetworks, Inc		74
11,838	*	Red Hat, Inc		277
3,593	*	Redback Networks, Inc		66
781		Renaissance Learning, Inc		11
4,532	*	Rent-A-Center, Inc		113
1,744	*	Rewards Network, Inc		14
4,293		Reynolds & Reynolds Co (Class A)		132
712	*	RightNow Technologies, Inc		12
9,787		Robert Half International, Inc		411
2,131		Rollins, Inc		42
4,866	*	RSA Security, Inc		132
5,099	*	S1 Corp		24
1,510	*	SafeNet, Inc		27
5,449	*	Salesforce.com, Inc		145
5,900	*	Sapient Corp		31
3,543	*	Secure Computing Corp		31

6

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
18,711		ServiceMaster Co	$	193
639	*	SI International, Inc		20
3,771	*	Sitel Corp		15
1,301	*	Smith Micro Software, Inc		21
1,534	*	Sohu.com, Inc		40
4,123	*	SonicWALL, Inc		37
16,726	*	Sonus Networks, Inc		83
3,912	*	Sotheby’s Holdings, Inc (Class A)		103
4,207	*	Spherion Corp		38
1,239	*	SPSS, Inc		40
2,484	*	SRA International, Inc (Class A)		66
627	*	SSA Global Technologies, Inc		12
746		Startek, Inc		11
1,182		Stellent, Inc		11
702	*	Stratasys, Inc		21
225,053	*	Sun Microsystems, Inc		934
5,794	*	Sybase, Inc		113
1,700	*	SYKES Enterprises, Inc		28
67,242	*	Symantec Corp		1,045
797	*	SYNNEX Corp		15
9,458	*	Synopsys, Inc		178
403		Syntel, Inc		8
4,650	*	Take-Two Interactive Software, Inc		50
1,034	*	TAL International Group, Inc		25
879	*	Taleo Corp		10
1,878		Talx Corp		41
2,576	*	TeleTech Holdings, Inc		33
1,161		TheStreet.com, Inc		15
4,249	*	THQ, Inc		92
13,792	*	TIBCO Software, Inc		97
1,534	*	TNS, Inc		32
2,517		Total System Services, Inc		49
1,168	*	TradeStation Group, Inc		15
2,473	*	Transaction Systems Architects, Inc		103
300	*	Travelzoo, Inc		9
2,823	*	Trizetto Group, Inc		42
1,541	*	Ultimate Software Group, Inc		30
22,840	*	Unisys Corp		144
3,701		United Online, Inc		45
4,172	*	United Rentals, Inc		134
1,948	*	Universal Compression Holdings, Inc		123
4,015	*	VA Software Corp		16
6,598	*	Valueclick, Inc		101
1,577	*	Vasco Data Security International		13
812	*	Verint Systems, Inc		24
15,786	*	VeriSign, Inc		366
634	*	Vertrue, Inc		27
1,519		Viad Corp		48
1,694	*	Vignette Corp		25
572	*	Volt Information Sciences, Inc		27
35,145		Waste Management, Inc		1,261
2,703	*	WebEx Communications, Inc		96
449	*	WebMD Health Corp		21
3,244	*	webMethods, Inc		32
2,958	*	Websense, Inc		61
1,107	*	WebSideStory, Inc		14
4,910	*	Wind River Systems, Inc		44
2,159	*	Witness Systems, Inc		44
90,812	*	Yahoo!, Inc		2,997
		TOTAL BUSINESS SERVICES		64,775
CHEMICALS AND ALLIED PRODUCTS - 9.15%
98,401		Abbott Laboratories		4,291
1,431	*	Abraxis BioScience, Inc		34
1,098	*	Acadia Pharmaceuticals, Inc		9
200	*	Adams Respiratory Therapeutics, Inc		9

7

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
996	*	Adeza Biomedical Corp	$	14
2,849	*	Adolor Corp		71
525	*	Advanced Magnetics, Inc		16
3,480	*	ADVENTRX Pharmaceuticals, Inc		11
14,451		Air Products & Chemicals, Inc		924
1,600	*	Albany Molecular Research, Inc		17
2,452		Albemarle Corp		117
5,024		Alberto-Culver Co		245
2,114	*	Alexion Pharmaceuticals, Inc		76
5,676	*	Alkermes, Inc		107
2,039	*	Alnylam Pharmaceuticals, Inc		31
2,624		Alpharma, Inc (Class A)		63
2,837	*	American Oriental Bioengineering, Inc		16
928		American Vanguard Corp		14
76,159	*	Amgen, Inc		4,968
1,944	*	Anadys Pharmaceuticals, Inc		6
5,037	*	Andrx Corp		117
1,500		Arch Chemicals, Inc		54
3,078	*	Arena Pharmaceuticals, Inc		36
3,660	*	Array Biopharma, Inc		31
2,452	*	Atherogenics, Inc		32
1,439	*	Auxilium Pharmaceuticals, Inc		11
1,833	*	AVANIR Pharmaceuticals		13
6,079		Avery Dennison Corp		353
3,321	*	AVI BioPharma, Inc		12
29,020		Avon Products, Inc		900
780		Balchem Corp		18
6,940	*	Barr Pharmaceuticals, Inc		331
872	*	Bentley Pharmaceuticals, Inc		10
1,474	*	BioCryst Pharmaceuticals, Inc		21
2,648	*	Bioenvision, Inc		14
22,160	*	Biogen Idec, Inc		1,027
5,486	*	BioMarin Pharmaceuticals, Inc		79
900	*	Bradley Pharmaceuticals, Inc		9
126,772		Bristol-Myers Squibb Co		3,278
4,244		Cabot Corp		147
2,400		Calgon Carbon Corp		15
1,815		Cambrex Corp		38
631	*	Caraco Pharmaceutical Laboratories Ltd		6
4,692		Celanese Corp (Series A)		96
3,105	*	Cell Genesys, Inc		16
3,899	*	Cephalon, Inc		234
3,523		CF Industries Holdings, Inc		50
4,654	*	Charles River Laboratories International, Inc		171
1,163	*	Chattem, Inc		35
15,194		Chemtura Corp		142
4,292		Church & Dwight Co, Inc		156
9,732		Clorox Co		593
1,192	*	Coley Pharmaceutical Group, Inc		14
33,183		Colgate-Palmolive Co		1,988
1,544	*	Combinatorx, Inc		14
2,200	*	Connetics Corp		26
1,751	*	Conor Medsystems, Inc		48
860	*	Cotherix, Inc		7
3,622	*	Cubist Pharmaceuticals, Inc		91
2,618	*	Cypress Bioscience, Inc		16
2,754		Cytec Industries, Inc		148
1,702	*	Cytokinetics, Inc		11
5,659		Dade Behring Holdings, Inc		236
4,015	*	Dendreon Corp		19
1,604		Diagnostic Products Corp		93
1,130	*	Digene Corp		44
61,997		Dow Chemical Co		2,420
59,385		Du Pont (E.I.) de Nemours & Co		2,470
3,494	*	Durect Corp		14
5,082		Eastman Chemical Co		274

8

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
11,655		Ecolab, Inc	$	473
63,394		Eli Lilly & Co		3,504
1,704	*	Elizabeth Arden, Inc		30
1,484	*	Emisphere Technologies, Inc		13
4,500	*	Encysive Pharmaceuticals, Inc		31
3,094	*	Enzon Pharmaceuticals, Inc		23
8,026		Estee Lauder Cos (Class A)		310
2,913		Ferro Corp		46
2,528		FMC Corp		163
21,008	*	Forest Laboratories, Inc		813
30,139	*	Genentech, Inc		2,465
1,612	*	Genitope Corp		10
8,696	*	Genta, Inc		14
16,791	*	Genzyme Corp		1,025
2,274		Georgia Gulf Corp		57
4,250	*	Geron Corp		29
29,435	*	Gilead Sciences, Inc		1,741
818	*	GTx, Inc		7
2,040		H.B. Fuller Co		89
1,828	*	Hana Biosciences, Inc		17
7,598	*	Hercules, Inc		116
517	*	Hi-Tech Pharmacal Co, Inc		9
10,193	*	Hospira, Inc		438
8,974	*	Human Genome Sciences, Inc		96
5,464	*	Huntsman Corp		95
861	*	Idenix Pharmaceuticals, Inc		8
2,122	*	Idexx Laboratories, Inc		159
4,629	*	ImClone Systems, Inc		179
4,347	*	Immucor, Inc		84
3,006	*	Indevus Pharmaceuticals, Inc		16
730		Innospec, Inc		19
236		Inter Parfums, Inc		4
1,694	*	InterMune, Inc		28
5,869		International Flavors & Fragrances, Inc		207
1,794	*	Inverness Medical Innovations, Inc		51
3,327	*	Invitrogen Corp		220
15,613	*	King Pharmaceuticals, Inc		265
650		Koppers Holdings, Inc		13
1,185	*	Kos Pharmaceuticals, Inc		45
358		Kronos Worldwide, Inc		10
2,481	*	KV Pharmaceutical Co (Class A)		46
4,300		Lubrizol Corp		171
13,216		Lyondell Chemical Co		299
1,876		MacDermid, Inc		54
987		Mannatech, Inc		12
1,441	*	MannKind Corp		31
2,109	*	Martek Biosciences Corp		61
7,861	*	Medarex, Inc		76
3,315	*	Medicines Co		65
3,736		Medicis Pharmaceutical Corp (Class A)		90
747	*	Medifast, Inc		13
16,191	*	Medimmune, Inc		439
140,709		Merck & Co, Inc		5,126
1,096		Meridian Bioscience, Inc		27
1,372	*	Metabasis Therapeutics, Inc		10
4,800	*	MGI Pharma, Inc		103
20,319	*	Millennium Pharmaceuticals, Inc		203
1,370		Minerals Technologies, Inc		71
1,402	*	Momenta Pharmaceuticals, Inc		18
17,438		Monsanto Co		1,468
8,391	*	Mosaic Co		131
13,533		Mylan Laboratories, Inc		271
2,738	*	Myogen, Inc		79
4,000	*	Nabi Biopharmaceuticals		23
6,850	*	Nalco Holding Co		121
1,189	*	Nastech Pharmaceutical Co, Inc		19

9

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
3,790	*	NBTY, Inc	$	91
2,526	*	Neurocrine Biosciences, Inc		27
838	*	New River Pharmaceuticals, Inc		24
1,115		NewMarket Corp		55
964		NL Industries, Inc		10
1,322	*	Northfield Laboratories, Inc		13
3,944	*	Novavax, Inc		20
1,495	*	Noven Pharmaceuticals, Inc		27
2,588	*	NPS Pharmaceuticals, Inc		13
3,169	*	Nuvelo, Inc		53
4,620		Olin Corp		83
1,900	*	OM Group, Inc		59
2,655	*	Omnova Solutions, Inc		15
2,409	*	Onyx Pharmaceuticals, Inc		41
2,901	*	OraSure Technologies, Inc		28
3,810	*	OSI Pharmaceuticals, Inc		126
1,393	*	Pacific Ethanol, Inc		32
1,792	*	Pain Therapeutics, Inc		15
3,203	*	Panacos Pharmaceuticals, Inc		18
2,340	*	Par Pharmaceutical Cos, Inc		43
1,703	*	Parexel International Corp		49
812	*	Parlux Fragrances, Inc		8
7,345	*	PDL BioPharma, Inc		135
1,492	*	Penwest Pharmaceuticals Co		33
11,078	*	Peregrine Pharmaceuticals, Inc		18
5,365		Perrigo Co		86
1,182	*	PetMed Express, Inc		13
472,382		Pfizer, Inc		11,087
1,639	*	Pharmion Corp		28
752	*	Pioneer Cos, Inc		21
6,365	*	PolyOne Corp		56
1,425	*	Pozen, Inc		10
10,681		PPG Industries, Inc		705
20,856		Praxair, Inc		1,126
1,891	*	Prestige Brands Holdings, Inc		19
211,292		Procter & Gamble Co		11,748
1,419	*	Progenics Pharmaceuticals, Inc		34
1,976	*	Quidel Corp		19
1,297	*	Renovis, Inc		20
11,215	*	Revlon, Inc (Class A)		14
1,957	*	Rockwood Holdings, Inc		45
10,198		Rohm & Haas Co		511
7,884		RPM International, Inc		142
2,502	*	Salix Pharmaceuticals Ltd		31
2,916	*	Santarus, Inc		19
95,506		Schering-Plough Corp		1,817
1,824	*	Sciele Pharma, Inc		42
2,971		Scotts Miracle-Gro Co (Class A)		126
3,076		Sensient Technologies Corp		64
7,046	*	Sepracor, Inc		403
2,326	*	Serologicals Corp		73
4,322		Sigma-Aldrich Corp		314
2,535	*	Sirna Therapeutics, Inc		14
1,502	*	Solexa, Inc		13
500		Stepan Co		16
3,078	*	SuperGen, Inc		11
900	*	SurModics, Inc		32
1,732	*	Tanox, Inc		24
2,786		Tronox, Inc		37
3,302		UAP Holding Corp		72
1,527	*	United Therapeutics Corp		88
594	*	USANA Health Sciences, Inc		23
5,847		USEC, Inc		69
5,951		Valeant Pharmaceuticals International		101
6,561		Valspar Corp		173
5,522	*	VCA Antech, Inc		176

10

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
7,113	*	Vertex Pharmaceuticals, Inc	$	261
4,346	*	Viropharma, Inc		37
425	*	Visicu, Inc		7
6,559	*	Watson Pharmaceuticals, Inc		153
893		Westlake Chemical Corp		27
4,714	*	WR Grace & Co		55
86,765		Wyeth		3,853
1,060	*	Xenoport, Inc		19
2,399	*	Zymogenetics, Inc		45
		TOTAL CHEMICALS AND ALLIED PRODUCTS		83,881
COAL MINING - 0.27%
3,350	*	Alpha Natural Resources, Inc		66
9,116		Arch Coal, Inc		386
11,916		Consol Energy, Inc		557
2,939		Foundation Coal Holdings, Inc		138
7,316	*	International Coal Group, Inc		53
879	*	James River Coal Co		23
5,174		Massey Energy Co		186
16,980		Peabody Energy Corp		947
1,148		Penn Virginia Corp		80
431	*	Westmoreland Coal Co		10
		TOTAL COAL MINING		2,446
COMMUNICATIONS - 4.66%
2,743		Alaska Communications Systems Group, Inc		35
24,700		Alltel Corp		1,577
27,211	*	American Tower Corp (Class A)		847
2,198		Anixter International, Inc		104
250,650		AT&T, Inc		6,991
356		Atlantic Tele-Network, Inc		7
1,206	*	Audiovox Corp (Class A)		16
29,737	*	Avaya, Inc		340
116,603		BellSouth Corp		4,221
3,622	*	Brightpoint, Inc		49
13,439		Cablevision Systems Corp (Class A)		288
1,055	*	Cbeyond Communications, Inc		23
43,382		CBS Corp		1,173
1,478		Centennial Communications Corp		8
7,562		CenturyTel, Inc		281
25,044	*	Charter Communications, Inc (Class A)		28
16,520	*	Cincinnati Bell, Inc		68
2,418		Citadel Broadcasting Corp		22
20,972		Citizens Communications Co		274
32,438		Clear Channel Communications, Inc		1,004
125,596	*	Comcast Corp (Class A)		4,112
1,582		Commonwealth Telephone Enterprises, Inc		52
1,530		Consolidated Communications Holdings, Inc		25
18,769	*	Covad Communications Group, Inc		38
2,938	*	Cox Radio, Inc (Class A)		42
13,950	*	Crown Castle International Corp		482
1,802	*	Crown Media Holdings, Inc (Class A)		7
1,200		CT Communications, Inc		27
3,424	*	Cumulus Media, Inc (Class A)		37
51,906	*	DIRECTV Group, Inc		856
9,292	*	Dobson Communications Corp (Class A)		72
13,281	*	EchoStar Communications Corp (Class A)		409
9,310	*	Embarq Corp		382
2,106	*	Emmis Communications Corp (Class A)		33
2,180		Entercom Communications Corp		57
5,154	*	Entravision Communications Corp (Class A)		44
575	*	Eschelon Telecom, Inc		9
1,820		Fairpoint Communications, Inc		26
3,521	*	First Avenue Networks, Inc		38
354	*	Fisher Communications, Inc		15
9,435	*	Foundry Networks, Inc		101

11

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
3,022	*	General Communication, Inc (Class A)	$	37
4,248		Global Payments, Inc		206
1,459		Golden Telecom, Inc		37
3,118		Gray Television, Inc		18
2,115		Hearst-Argyle Television, Inc		47
11,619	*	IAC/InterActiveCorp		308
3,749	*	IDT Corp (Class B)		52
1,065	*	InPhonic, Inc		7
1,874		Iowa Telecommunications Services, Inc		35
1,069	*	iPCS, Inc		52
3,186	*	j2 Global Communications, Inc		99
2,836	*	Leap Wireless International, Inc		135
54,517	*	Level 3 Communications, Inc		242
29,646	*	Liberty Global, Inc		637
9,080	*	Liberty Media Holding Corp (Capital)		761
45,281	*	Liberty Media Holding Corp (Interactive)		782
1,755	*	Lightbridge, Inc		23
1,798	*	Lin TV Corp (Class A)		14
767	*	Lodgenet Entertainment Corp		14
2,626	*	Mastec, Inc		35
4,583	*	Mediacom Communications Corp		29
4,025	*	NeuStar, Inc		136
8,710	*	NII Holdings, Inc (Class B)		491
1,200		North Pittsburgh Systems, Inc		33
1,922	*	Novatel Wireless, Inc		20
940	*	NTELOS Holdings Corp		13
3,376		PanAmSat Holding Corp		84
3,540	*	Pegasus Wireless Corp		32
3,375	*	Price Communications Corp		57
101,946	*	Qwest Communications International, Inc		825
5,650	*	Radio One, Inc (Class D)		42
1,881	*	RCN Corp		47
695		Salem Communications Corp (Class A)		9
529	*	SAVVIS, Inc		16
6,600	*	SBA Communications Corp		172
468		Shenandoah Telecom Co		22
3,111		Sinclair Broadcast Group, Inc (Class A)		27
2,599	*	Spanish Broadcasting System, Inc (Class A)		13
186,850		Sprint Nextel Corp		3,735
956		SureWest Communications		18
1,160	*	Syniverse Holdings, Inc		17
1,652	*	Talk America Holdings, Inc		10
7,023		Telephone & Data Systems, Inc		291
1,962	*	Terremark Worldwide, Inc		7
4,990	*	TiVo, Inc		36
4,890	*	Ubiquitel, Inc		50
13,887	*	Univision Communications, Inc (Class A)		465
1,032	*	US Cellular Corp		62
1,642		USA Mobility, Inc		27
1,999		Valor Communications Group, Inc		23
188,077		Verizon Communications, Inc		6,299
40,913	*	Viacom, Inc		1,466
1,993	*	Vonage Holdings Corp		17
1,932	*	West Corp		93
3,292	*	Wireless Facilities, Inc		9
16,496	*	XM Satellite Radio Holdings, Inc		242
		TOTAL COMMUNICATIONS		42,696
DEPOSITORY INSTITUTIONS - 10.21%
1,016		1st Source Corp		34
458		Abington Community Bancorp, Inc		7
626	*	ACE Cash Express, Inc		18
922		Alabama National Bancorp		63
1,700		Amcore Financial, Inc		50
678		AmericanWest Bancorp		15
853		Ameris Bancorp		20

12

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
22,325		AmSouth Bancorp	$	590
1,536		Anchor Bancorp Wisconsin, Inc		46
700		Arrow Financial Corp		19
8,520		Associated Banc-Corp		269
5,993		Astoria Financial Corp		182
520		Bancfirst Corp		23
586	*	Bancorp, Inc		15
5,540		Bancorpsouth, Inc		151
500		BancTrust Financial Group, Inc		12
4,488		Bank Mutual Corp		55
294,212		Bank of America Corp		14,152
1,000		Bank of Granite Corp		21
3,393		Bank of Hawaii Corp		168
49,118		Bank of New York Co, Inc		1,582
638		Bank of the Ozarks, Inc		21
2,977		BankAtlantic Bancorp, Inc (Class A)		44
1,599		BankFinancial Corp		28
2,017		BankUnited Financial Corp (Class A)		62
777		Banner Corp		30
35,232		BB&T Corp		1,465
550		Berkshire Hills Bancorp, Inc		20
1,600	*	BFC Financial Corp		11
1,341		BOK Financial Corp		67
2,260		Boston Private Financial Holdings, Inc		63
3,927		Brookline Bancorp, Inc		54
514		Cadence Financial Corp		11
580		Camden National Corp		23
831		Capital City Bank Group, Inc		25
599		Capital Corp of the West		19
828		Capitol Bancorp Ltd		32
1,324		Capitol Federal Financial		45
1,590		Cardinal Financial Corp		18
1,441		Cascade Bancorp		41
242		Cass Information Systems, Inc		12
3,316		Cathay General Bancorp		121
3,800	*	Centennial Bank Holdings, Inc		39
622		Center Financial Corp		15
565		Centerstate Banks of Florida, Inc		12
1,887		Central Pacific Financial Corp		73
285		Charter Financial Corp		11
1,722		Chemical Financial Corp		53
3,197		Chittenden Corp		83
320,491		Citigroup, Inc		15,460
2,860		Citizens Banking Corp		70
553		Citizens First Bancorp, Inc		15
550		City Bank		26
1,123		City Holding Co		41
2,626		City National Corp		171
875		Clifton Savings Bancorp, Inc		9
1,056		Coastal Financial Corp		14
675		CoBiz, Inc		15
9,930		Colonial Bancgroup, Inc		255
633		Columbia Bancorp		16
1,059		Columbia Banking System, Inc		40
10,473		Comerica, Inc		544
11,867		Commerce Bancorp, Inc		423
4,304		Commerce Bancshares, Inc		215
2,989		Commercial Capital Bancorp, Inc		47
345	*	Community Bancorp		11
326		Community Bancorp, Inc		14
2,024		Community Bank System, Inc		41
1,549		Community Banks, Inc		40
1,003		Community Trust Bancorp, Inc		35
8,046		Compass Bancshares, Inc		447
2,340		Corus Bankshares, Inc		61
3,532		Cullen/Frost Bankers, Inc		202

13

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
4,026		CVB Financial Corp	$	63
1,609		Dime Community Bancshares		22
639	*	Dollar Financial Corp		12
1,361		Downey Financial Corp		92
3,926		East West Bancorp, Inc		149
512		Enterprise Financial Services Corp		13
2,103	*	Euronet Worldwide, Inc		81
447		Farmers Capital Bank Corp		15
1,729		Fidelity Bankshares, Inc		55
30,684		Fifth Third Bancorp		1,134
720		First Bancorp		15
4,676		First Bancorp		43
900		First Busey Corp (Class A)		18
2,100		First Charter Corp		52
429		First Citizens Bancshares, Inc (Class A)		86
4,700		First Commonwealth Financial Corp		60
1,247		First Community Bancorp, Inc		74
680		First Community Bancshares, Inc		22
2,359		First Financial Bancorp		35
1,332		First Financial Bankshares, Inc		49
903		First Financial Corp		27
600		First Financial Holdings, Inc		19
8,055		First Horizon National Corp		324
915		First Indiana Corp		24
1,238		First Merchants Corp		30
3,362		First Midwest Bancorp, Inc		125
7,184		First Niagara Financial Group, Inc		101
465		First Oak Brook Bancshares, Inc		17
987		First Place Financial Corp		23
162	*	First Regional Bancorp		14
1,356		First Republic Bank		62
504		First South Bancorp, Inc		17
998		First State Bancorporation		24
1,077	*	FirstFed Financial Corp		62
5,702		FirstMerit Corp		119
912		Flag Financial Corp		18
1,967		Flagstar Bancorp, Inc		31
1,105		Flushing Financial Corp		20
3,778		FNB Corp		60
419		FNB Corp		16
1,364	*	Franklin Bank Corp		28
4,200		Fremont General Corp		78
1,596		Frontier Financial Corp		54
11,161		Fulton Financial Corp		178
872		GB&T Bancshares, Inc		19
2,312		Glacier Bancorp, Inc		68
16,861		Golden West Financial Corp		1,251
699		Great Southern Bancorp, Inc		21
3,069		Greater Bay Bancorp		88
437		Greene County Bancshares, Inc		14
1,914		Hancock Holding Co		107
2,620		Hanmi Financial Corp		51
1,257		Harbor Florida Bancshares, Inc		47
1,820		Harleysville National Corp		39
928		Heartland Financial USA, Inc		25
803		Heritage Commerce Corp		20
707		Horizon Financial Corp		19
37,381		Hudson City Bancorp, Inc		498
15,800		Huntington Bancshares, Inc		373
632		IBERIABANK Corp		36
938		Independent Bank Corp		30
1,603		Independent Bank Corp		42
4,091		IndyMac Bancorp, Inc		188
1,040		Integra Bank Corp		23
924		Interchange Financial Services Corp		21
2,996		International Bancshares Corp		82

14

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
309	*	Intervest Bancshares Corp	$	13
3,434	*	Investors Bancorp, Inc		47
4,426		Investors Financial Services Corp		199
1,234		Irwin Financial Corp		24
323		ITLA Capital Corp		17
224,015		JPMorgan Chase & Co		9,409
1,441		Kearny Financial Corp		21
26,069		Keycorp		930
2,198		KNBT Bancorp, Inc		36
931		Lakeland Bancorp, Inc		15
734		Lakeland Financial Corp		18
4,903		M&T Bank Corp		578
957		Macatawa Bank Corp		22
2,162		MAF Bancorp, Inc		93
697		MainSource Financial Group, Inc		12
15,734		Marshall & Ilsley Corp		720
1,480		MB Financial, Inc		52
977		MBT Financial Corp		16
26,669		Mellon Financial Corp		918
548		Mercantile Bank Corp		22
7,938		Mercantile Bankshares Corp		283
302		MetroCorp Bancshares, Inc		9
1,600		Mid-State Bancshares		45
1,081		Midwest Banc Holdings, Inc		24
1,144		Nara Bancorp, Inc		21
206		NASB Financial, Inc		7
36,719		National City Corp		1,329
3,016		National Penn Bancshares, Inc		60
2,152		NBT Bancorp, Inc		50
3,099	*	Net 1 UEPS Technologies, Inc		85
3,228		NetBank, Inc		21
18,040		New York Community Bancorp, Inc		298
7,703		NewAlliance Bancshares, Inc		110
30,000		North Fork Bancorporation, Inc		905
558	*	Northern Empire Bancshares		13
14,060		Northern Trust Corp		778
1,341		Northwest Bancorp, Inc		36
486		OceanFirst Financial Corp		11
4,701		Old National Bancorp		94
1,064		Old Second Bancorp, Inc		33
853		Omega Financial Corp		27
1,295		Oriental Financial Group, Inc		17
3,244		Pacific Capital Bancorp		101
888		Park National Corp		88
3,379		Partners Trust Financial Group, Inc		38
762		Pennfed Financial Services, Inc		14
595		Peoples Bancorp, Inc		18
3,916		People’s Bank		129
1,580		PFF Bancorp, Inc		52
986	*	Pinnacle Financial Partners, Inc		30
747		Placer Sierra Bancshares		17
18,364		PNC Financial Services Group, Inc		1,289
17,935		Popular, Inc		344
283		Preferred Bank		15
937		Premierwest Bancorp		13
1,141		PrivateBancorp, Inc		47
1,637		Prosperity Bancshares, Inc		54
2,140		Provident Bankshares Corp		78
4,684		Provident Financial Services, Inc		84
2,753		Provident New York Bancorp		36
1,974		R & G Financial Corp (Class B)		17
29,394		Regions Financial Corp		973
513		Renasant Corp		21
5,382		Republic Bancorp, Inc		67
584		Republic Bancorp, Inc (Class A)		12
303		Royal Bancshares of Pennsylvania (Class A)		7

15

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,811		S&T Bancorp, Inc	$	60
846		S.Y. Bancorp, Inc		23
1,000		Sandy Spring Bancorp, Inc		36
357		Santander BanCorp		9
577		SCBT Financial Corp		20
740		Seacoast Banking Corp of Florida		20
938		Security Bank Corp		21
549		Shore Bancshares, Inc		15
370		Sierra Bancorp		10
1,893	*	Signature Bank		61
1,066		Simmons First National Corp (Class A)		31
6,530		Sky Financial Group, Inc		154
502		Smithtown Bancorp, Inc		12
769		Sound Federal Bancorp, Inc		16
4,761		South Financial Group, Inc		126
687		Southside Bancshares, Inc		15
740		Southwest Bancorp, Inc		19
24,906		Sovereign Bancorp, Inc		506
672		State National Bancshares, Inc		26
21,537		State Street Corp		1,251
1,199		Sterling Bancorp		23
2,600		Sterling Bancshares, Inc		49
1,778		Sterling Financial Corp		39
2,355		Sterling Financial Corp		72
701		Suffolk Bancorp		23
689		Summit Bancshares, Inc		15
558	*	Sun Bancorp, Inc		9
23,443		SunTrust Banks, Inc		1,788
943	*	Superior Bancorp		10
3,131		Susquehanna Bancshares, Inc		75
2,287	*	SVB Financial Group		104
18,315		Synovus Financial Corp		490
300		Taylor Capital Group, Inc		12
8,692		TCF Financial Corp		230
6,502		TD Banknorth, Inc		191
1,482	*	Texas Capital Bancshares, Inc		34
2,864		Texas Regional Bancshares, Inc (Class A)		109
593		Texas United Bancshares, Inc		17
1,372		TierOne Corp		46
709		Tompkins Trustco, Inc		30
726		Trico Bancshares		20
5,202		Trustco Bank Corp NY		57
3,402		Trustmark Corp		105
6,278		UCBH Holdings, Inc		104
2,088		UMB Financial Corp		70
3,609		Umpqua Holdings Corp		93
543		Union Bankshares Corp		23
3,534		UnionBanCal Corp		228
2,534		United Bankshares, Inc		93
2,128		United Community Banks, Inc		65
1,981		United Community Financial Corp		24
460		United Security Bancshares		10
792		Univest Corp of Pennsylvania		22
114,754		US Bancorp		3,544
1,110		USB Holding Co, Inc		25
7,403		Valley National Bancorp		190
526		Vineyard National Bancorp		14
753	*	Virginia Commerce Bancorp		18
524		Virginia Financial Group, Inc		22
7,937		W Holding Co, Inc		53
103,692		Wachovia Corp		5,608
5,875		Washington Federal, Inc		136
61,934		Washington Mutual, Inc		2,823
881		Washington Trust Bancorp, Inc		24
681	*	Wauwatosa Holdings, Inc		12
3,532		Webster Financial Corp		167

16

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
108,305		Wells Fargo & Co	$	7,265
1,534		WesBanco, Inc		47
1,260		West Bancorporation, Inc		23
977		West Coast Bancorp		29
2,016		Westamerica Bancorporation		99
850	*	Western Alliance Bancorp		29
358		Westfield Financial, Inc		10
4,160		Whitney Holding Corp		147
961		Willow Grove Bancorp, Inc		15
4,525		Wilmington Trust Corp		191
980		Wilshire Bancorp, Inc		18
1,580		Wintrust Financial Corp		80
320		WSFS Financial Corp		20
558		Yardville National Bancorp		20
6,629		Zions Bancorporation		517
		TOTAL DEPOSITORY INSTITUTIONS		93,644
EATING AND DRINKING PLACES - 0.94%
1,322	*	AFC Enterprises		17
4,987		Applebees International, Inc		96
7,274		Aramark Corp (Class B)		241
758	*	BJ’s Restaurants, Inc		17
2,400		Bob Evans Farms, Inc		72
5,563		Brinker International, Inc		202
395	*	Buffalo Wild Wings, Inc		15
1,314	*	California Pizza Kitchen, Inc		36
1,992		CBRL Group, Inc		68
2,362	*	CEC Entertainment, Inc		76
514	*	Chipotle Mexican Grill, Inc		31
3,658		CKE Restaurants, Inc		61
2,170	*	Cosi, Inc		14
9,630		Darden Restaurants, Inc		379
6,036	*	Denny’s Corp		22
2,437		Domino’s Pizza, Inc		60
1,384		IHOP Corp		67
2,392	*	Jack in the Box, Inc		94
3,561	*	Krispy Kreme Doughnuts, Inc		29
1,203		Landry’s Restaurants, Inc		39
1,188		Lone Star Steakhouse & Saloon, Inc		31
1,554	*	Luby’s, Inc		16
528	*	McCormick & Schmick’s Seafood Restaurants, Inc		13
80,340		McDonald’s Corp		2,699
654	*	Morton’s Restaurant Group, Inc		10
1,720	*	O’Charleys, Inc		29
4,319		OSI Restaurant Partners, Inc		149
1,450	*	Papa John’s International, Inc		48
1,702	*	PF Chang’s China Bistro, Inc		65
2,362	*	Rare Hospitality International, Inc		68
957	*	Red Robin Gourmet Burgers, Inc		41
3,600		Ruby Tuesday, Inc		88
800	*	Ruth’s Chris Steak House, Inc		16
2,829	*	Ryan’s Restaurant Group, Inc		34
6,111	*	Sonic Corp		127
49,507	*	Starbucks Corp		1,869
3,384	*	Texas Roadhouse, Inc (Class A)		46
5,201	*	The Cheesecake Factory, Inc		140
1,689	*	The Steak N Shake Co		26
1,949	*	Tim Hortons, Inc		50
3,982		Triarc Cos (Class B)		62
7,520		Wendy’s International, Inc		438
17,525		Yum! Brands, Inc		881
		TOTAL EATING AND DRINKING PLACES		8,582
EDUCATIONAL SERVICES - 0.14%
9,074	*	Apollo Group, Inc (Class A)		469
6,314	*	Career Education Corp		189

17

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
5,717	*	Corinthian Colleges, Inc	$	82
4,016	*	DeVry, Inc		88
1,214	*	Educate, Inc		9
2,770	*	ITT Educational Services, Inc		182
2,932	*	Laureate Education, Inc		125
968		Strayer Education, Inc		94
1,448	*	Universal Technical Institute, Inc		32
		TOTAL EDUCATIONAL SERVICES		1,270
ELECTRIC, GAS, AND SANITARY SERVICES - 4.06%
42,522	*	AES Corp		785
4,796		AGL Resources, Inc		183
10,738	*	Allegheny Energy, Inc		398
1,693		Allete, Inc		80
7,723		Alliant Energy Corp		265
15,781	*	Allied Waste Industries, Inc		179
12,827		Ameren Corp		648
822		American Ecology Corp		22
24,825		American Electric Power Co, Inc		850
1,100		American States Water Co		39
8,688		Aqua America, Inc		198
24,847	*	Aquila, Inc		105
5,341		Atmos Energy Corp		149
3,700		Avista Corp		84
2,253		Black Hills Corp		77
1,013		California Water Service Group		36
770		Cascade Natural Gas Corp		16
1,195	*	Casella Waste Systems, Inc (Class A)		16
20,446		Centerpoint Energy, Inc		256
1,063		CH Energy Group, Inc		51
1,104	*	Clean Harbors, Inc		45
3,305		Cleco Corp		77
14,685	*	CMS Energy Corp		190
15,657		Consolidated Edison, Inc		696
11,552		Constellation Energy Group, Inc		630
7,381	*	Covanta Holding Corp		130
568		Crosstex Energy, Inc		54
22,225		Dominion Resources, Inc		1,662
7,914		DPL, Inc		212
11,108		DTE Energy Co		453
79,676		Duke Energy Corp		2,340
5,233		Duquesne Light Holdings, Inc		86
24,110	*	Dynegy, Inc (Class A)		132
20,998		Edison International		819
42,504		El Paso Corp		638
3,388	*	El Paso Electric Co		68
1,913		Empire District Electric Co		39
4,652		Energen Corp		179
9,504		Energy East Corp		227
453		EnergySouth, Inc		14
13,410		Entergy Corp		949
43,091		Exelon Corp		2,449
21,262		FirstEnergy Corp		1,153
25,755		FPL Group, Inc		1,066
4,858		Great Plains Energy, Inc		135
5,200		Hawaiian Electric Industries, Inc		145
2,843		Idacorp, Inc		97
914		ITC Holdings Corp		24
11,365		KeySpan Corp		459
6,767		Kinder Morgan, Inc		676
1,400		Laclede Group, Inc		48
419		Markwest Hydrocarbon, Inc		10
7,850		MDU Resources Group, Inc		287
1,512		Metal Management, Inc		46
1,200		MGE Energy, Inc		37
19,331	*	Mirant Corp		518

18

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
5,518		National Fuel Gas Co	$	194
1,850		New Jersey Resources Corp		87
2,750		Nicor, Inc		114
17,372		NiSource, Inc		379
9,900		Northeast Utilities		205
1,750		Northwest Natural Gas Co		65
2,408		NorthWestern Corp		83
8,755	*	NRG Energy, Inc		422
6,921		NSTAR		198
5,851		OGE Energy Corp		205
7,361		Oneok, Inc		251
869		Ormat Technologies, Inc		33
1,956		Otter Tail Corp		53
2,462		Peoples Energy Corp		88
12,472		Pepco Holdings, Inc		294
22,498		PG&E Corp		884
591	*	Pico Holdings, Inc		19
5,355		Piedmont Natural Gas Co, Inc		130
1,025	*	Pike Electric Corp		20
6,539		Pinnacle West Capital Corp		261
3,483	*	Plug Power, Inc		16
4,199		PNM Resources, Inc		105
1,726		Portland General Electric Co		43
24,698		PPL Corp		798
16,208		Progress Energy, Inc		695
5,000	v*	Progress Energy, Inc		—	^
16,208		Public Service Enterprise Group, Inc		1,072
7,154		Puget Energy, Inc		154
5,509		Questar Corp		443
19,500	*	Reliant Energy, Inc		234
7,670		Republic Services, Inc		309
1,126		Resource America, Inc (Class A)		21
7,275		SCANA Corp		281
16,743		Sempra Energy		761
12,547	*	Sierra Pacific Resources		176
1,020		SJW Corp		26
1,884		South Jersey Industries, Inc		52
47,830		Southern Co		1,533
6,440		Southern Union Co		174
2,572		Southwest Gas Corp		81
1,025		Southwest Water Co		12
2,854	*	Stericycle, Inc		186
3,976		Synagro Technologies, Inc		16
13,485		TECO Energy, Inc		201
29,447		TXU Corp		1,761
6,965		UGI Corp		172
980		UIL Holdings Corp		55
2,373		Unisource Energy Corp		74
4,904		Vectren Corp		134
3,033	*	Waste Connections, Inc		110
499		Waste Industries USA, Inc		11
1,458	*	Waste Services, Inc		13
5,625		Westar Energy, Inc		118
4,079		Western Gas Resources, Inc		244
3,300		WGL Holdings, Inc		96
38,193		Williams Cos, Inc		892
7,578		Wisconsin Energy Corp		305
2,680		WPS Resources Corp		133
26,149		Xcel Energy, Inc		502
		TOTAL ELECTRIC, GAS, AND SANITARY SERVICES		37,221
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 5.91%
1,556	*	Actel Corp		22
3,000		Acuity Brands, Inc		117
7,209	*	Adaptec, Inc		31
7,316	*	ADC Telecommunications, Inc		123

19

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
4,420		Adtran, Inc	$	99
2,343	*	Advanced Analogic Technologies, Inc		25
2,251	*	Advanced Energy Industries, Inc		30
31,201	*	Advanced Micro Devices, Inc		762
4,300	*	Aeroflex, Inc		50
10,899	*	Agere Systems, Inc		160
23,550	*	Altera Corp		413
10,928		American Power Conversion Corp		213
1,695	*	American Superconductor Corp		15
4,556		Ametek, Inc		216
2,968	*	AMIS Holdings, Inc		30
6,298	*	Amkor Technology, Inc		60
5,827		Amphenol Corp (Class A)		326
3,097	*	Anadigics, Inc		21
23,273		Analog Devices, Inc		748
10,546	*	Andrew Corp		93
19,510	*	Applied Micro Circuits Corp		53
6,887	*	Arris Group, Inc		90
3,325	*	Atheros Communications, Inc		63
27,704	*	Atmel Corp		154
2,512	*	ATMI, Inc		62
10,804	*	Avanex Corp		19
8,282	*	Avnet, Inc		166
3,547		AVX Corp		56
2,164		Baldor Electric Co		68
674		Bel Fuse, Inc (Class B)		22
4,279	*	Benchmark Electronics, Inc		103
3,618	*	Bookham, Inc		12
29,353	*	Broadcom Corp (Class A)		882
4,435	*	Broadwing Corp		46
18,512	*	Brocade Communications Systems, Inc		114
1,448	*	CalAmp Corp		13
6,761	*	Capstone Turbine Corp		15
1,332	*	Carrier Access Corp		11
2,989	*	C-COR, Inc		23
1,663	*	Ceradyne, Inc		82
2,612	*	Checkpoint Systems, Inc		58
1,792	*	China BAK Battery, Inc		15
37,619	*	Ciena Corp		181
393,940	*	Cisco Systems, Inc		7,694
908	*	Color Kinetics, Inc		17
1,458	*	Comtech Telecommunications Corp		43
12,890	*	Comverse Technology, Inc		255
32,205	*	Conexant Systems, Inc		81
457	*	CPI International, Inc		7
5,056	*	Cree, Inc		120
2,100		CTS Corp		31
1,000		Cubic Corp		20
8,969	*	Cypress Semiconductor Corp		130
1,281	*	Diodes, Inc		53
633	*	Directed Electronics, Inc		8
2,576	*	Ditech Networks, Inc		22
2,248	*	Dolby Laboratories, Inc (Class A)		52
1,958	*	DSP Group, Inc		49
1,168	*	DTS, Inc		23
2,000	*	Electro Scientific Industries, Inc		36
2,542	*	Emcore Corp		24
26,467		Emerson Electric Co		2,218
956	*	EMS Technologies, Inc		17
3,940	*	Energizer Holdings, Inc		231
2,523	*	Energy Conversion Devices, Inc		92
3,062	*	EnerSys		64
4,298	*	Evergreen Solar, Inc		56
2,444	*	Exar Corp		32
7,886	*	Fairchild Semiconductor International, Inc		143
14,527	*	Finisar Corp		48

20

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,486		Franklin Electric Co, Inc	$	77
26,157	*	Freescale Semiconductor, Inc (Class B)		769
2,934	*	FuelCell Energy, Inc		28
15,290	*	Gemstar-TV Guide International, Inc		54
1,740	*	Genlyte Group, Inc		126
6,759	*	GrafTech International Ltd		39
1,507	*	Greatbatch, Inc		36
4,325		Harman International Industries, Inc		369
5,636	*	Harmonic, Inc		25
8,649		Harris Corp		359
6,021	*	Hexcel Corp		95
829	*	Hittite Microwave Corp		30
53,379		Honeywell International, Inc		2,151
1,800	*	Hutchinson Technology, Inc		39
739	*	ID Systems, Inc		13
1,334	*	Ikanos Communications, Inc		20
2,223		Imation Corp		91
13,019	*	Integrated Device Technology, Inc		185
375,036		Intel Corp		7,107
3,415	*	Interdigital Communications Corp		119
2,148	*	International DisplayWorks, Inc		11
4,573	*	International Rectifier Corp		179
9,144		Intersil Corp (Class A)		213
1,421		Inter-Tel, Inc		30
2,296	*	InterVoice, Inc		16
724	*	iRobot Corp		18
1,636	*	IXYS Corp		16
104,651	*	JDS Uniphase Corp		265
6,007	*	Kemet Corp		55
7,785		L-3 Communications Holdings, Inc		587
894	*	Lamson & Sessions Co		25
7,863	*	Lattice Semiconductor Corp		49
2,740		Lincoln Electric Holdings, Inc		172
19,565		Linear Technology Corp		655
1,534	*	Littelfuse, Inc		53
732	*	Loral Space & Communications, Inc		21
1,293		LSI Industries, Inc		22
25,060	*	LSI Logic Corp		224
288,746	*	Lucent Technologies, Inc		699
3,108	*	Mattson Technology, Inc		30
20,675		Maxim Integrated Products, Inc		664
936	*	Maxwell Technologies, Inc		18
9,964	*	McData Corp (Class A)		41
1,334	*	Medis Technologies Ltd		27
8,815	*	MEMC Electronic Materials, Inc		331
1,540	*	Mercury Computer Systems, Inc		24
2,500		Methode Electronics, Inc		26
833	*	Metrologic Instruments, Inc		13
4,755	*	Micrel, Inc		48
13,649		Microchip Technology, Inc		458
46,315	*	Micron Technology, Inc		698
4,543	*	Microsemi Corp		111
4,100	*	Microtune, Inc		26
7,089	*	Mindspeed Technologies, Inc		17
2,847	*	MIPS Technologies, Inc		17
1,718	*	Mobility Electronics, Inc		12
8,747		Molex, Inc		294
1,168	*	Monolithic Power Systems, Inc		14
2,561	*	Moog, Inc		88
1,507	*	MoSys, Inc		12
159,257		Motorola, Inc		3,209
7,339	*	MRV Communications, Inc		23
555	*	Multi-Fineline Electronix, Inc		18
300		National Presto Industries, Inc		16
21,753		National Semiconductor Corp		519
4,200	v*	NCP Litigation Trust		—	^

21

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,013	*	Netlogic Microsystems, Inc	$	33
24,105	*	Network Appliance, Inc		851
8,219	*	Novellus Systems, Inc		203
22,670	*	Nvidia Corp		483
3,460	*	Omnivision Technologies, Inc		73
10,163	*	ON Semiconductor Corp		60
6,068	*	Openwave Systems, Inc		70
1,210	*	Oplink Communications Inc		22
1,276	*	Optical Communication Products, Inc		3
869	*	OSI Systems, Inc		15
1,250		Park Electrochemical Corp		32
1,185	*	Parkervision, Inc		11
1,447	*	Pericom Semiconductor Corp		12
2,260	*	Photronics, Inc		33
3,309		Plantronics, Inc		73
3,100	*	Plexus Corp		106
1,628	*	PLX Technology, Inc		20
13,218	*	PMC - Sierra, Inc		124
5,747	*	Polycom, Inc		126
1,009	*	Portalplayer, Inc		10
458	*	Powell Industries, Inc		11
1,813	*	Power Integrations, Inc		32
4,438	*	Power-One, Inc		29
7,309	*	Powerwave Technologies, Inc		67
10,532	*	QLogic Corp		182
107,841		Qualcomm, Inc		4,321
3,007	*	Quantum Fuel Systems Technologies Worldwide, Inc		10
8,917		RadioShack Corp		125
1,136	*	Radyne Corp		13
5,680	*	Rambus, Inc		130
1,083		Raven Industries, Inc		34
1,983		Regal-Beloit Corp		88
12,915	*	RF Micro Devices, Inc		77
11,303		Rockwell Collins, Inc		631
1,100	*	Rogers Corp		62
35,228	*	Sanmina-SCI Corp		162
5,166	*	Semtech Corp		75
5,145	*	Silicon Image, Inc		55
3,220	*	Silicon Laboratories, Inc		113
5,900	*	Silicon Storage Technology, Inc		24
1,604	*	Sirenza Microdevices, Inc		19
90,524	*	Sirius Satellite Radio, Inc		430
10,341	*	Skyworks Solutions, Inc		57
2,839	*	Spansion, Inc		45
2,490	*	Spectrum Brands, Inc		32
1,279	*	Standard Microsystems Corp		28
6,161	*	Stratex Networks, Inc		21
675	*	Sunpower Corp		19
745	*	Supertex, Inc		30
12,134	*	Sycamore Networks, Inc		49
2,907	*	Symmetricom, Inc		21
1,530	*	Synaptics, Inc		33
2,804		Technitrol, Inc		65
3,400	*	Tekelec		42
2,403		Teleflex, Inc		130
28,811	*	Tellabs, Inc		383
2,944	*	Tessera Technologies, Inc		81
100,436		Texas Instruments, Inc		3,042
4,084	*	Thomas & Betts Corp		209
12,811	*	Transmeta Corp		21
7,028	*	Transwitch Corp		15
3,408	*	Trident Microsystems, Inc		65
9,492	*	Triquint Semiconductor, Inc		42
2,833	*	TTM Technologies, Inc		41
640	*	Ulticom, Inc		7
1,466	*	Universal Display Corp		19

22

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,000	*	Universal Electronics, Inc	$	18
7,742	*	Utstarcom, Inc		60
3,784	*	Varian Semiconductor Equipment Associates, Inc		123
1,399	*	Viasat, Inc		36
1,471		Vicor Corp		24
899	*	Virage Logic Corp		8
10,877	*	Vishay Intertechnology, Inc		171
1,011	*	Volterra Semiconductor Corp		15
4,543		Whirlpool Corp		375
22,141		Xilinx, Inc		501
7,259	*	Zhone Technologies, Inc		15
712	*	Zoltek Cos, Inc		21
3,150	*	Zoran Corp		77
		TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT		54,215
ENGINEERING AND MANAGEMENT SERVICES - 0.82%
1,230	*	Advisory Board Co		59
6,911	*	Amylin Pharmaceuticals, Inc		341
4,841	*	Applera Corp (Celera Genomics Group)		63
4,682	*	Ariad Pharmaceuticals, Inc		21
900		CDI Corp		26
22,394	*	Celgene Corp		1,062
758	*	Cornell Cos, Inc		12
2,717		Corporate Executive Board Co		272
706	*	CRA International, Inc		32
2,878	*	CV Therapeutics, Inc		40
3,808	*	deCODE genetics, Inc		24
1,618	*	DiamondCluster International, Inc		13
5,965	*	Digitas, Inc		69
1,742	*	Diversa Corp		17
3,090	*	eResearch Technology, Inc		28
1,146	*	Essex Corp		21
5,381	*	Exelixis, Inc		54
1,100	*	Exponent, Inc		19
1,392	*	First Consulting Group, Inc		12
5,676		Fluor Corp		527
3,419	*	Gen-Probe, Inc		185
3,404	*	Harris Interactive, Inc		19
3,234	*	Hewitt Associates, Inc		73
1,113	*	Huron Consulting Group, Inc		39
4,311	*	ICOS Corp		95
4,807	*	Incyte Corp		22
1,718	*	Infrasource Services, Inc		31
4,737	*	Isis Pharmaceuticals, Inc		29
3,862	*	Jacobs Engineering Group, Inc		308
798	*	Kendle International, Inc		29
1,504	*	Keryx Biopharmaceuticals, Inc		21
584		Landauer, Inc		28
1,549	*	LECG Corp		29
4,403	*	Lexicon Genetics, Inc		19
1,975	*	Lifecell Corp		61
1,864	*	Luminex Corp		32
1,221		MAXIMUS, Inc		28
2,143	*	Maxygen, Inc		16
8,108	*	Monogram Biosciences, Inc		16
15,750		Moody’s Corp		858
685	*	MTC Technologies, Inc		16
2,554	*	Myriad Genetics, Inc		64
2,859	*	Navigant Consulting, Inc		65
1,729	*	Omnicell, Inc		24
21,518		Paychex, Inc		839
2,411	*	Per-Se Technologies, Inc		61
6,515		Pharmaceutical Product Development, Inc		229
10,276		Quest Diagnostics, Inc		616
2,870	*	Regeneron Pharmaceuticals, Inc		37
8,827	*	Rentech, Inc		41

23

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
3,214	*	Resources Connection, Inc	$	80
1,318	*	Rigel Pharmaceuticals, Inc		13
1,747	*	Sangamo Biosciences, Inc		10
4,084	*	Savient Pharmaceuticals, Inc		21
1,940	*	Senomyx, Inc		28
1,234	*	SFBC International, Inc		19
5,223	*	Shaw Group, Inc		145
1,062	*	Sourcecorp		26
1,956	*	Symyx Technologies, Inc		47
692	*	Tejon Ranch Co		29
3,521	*	Telik, Inc		58
3,591	*	Tetra Tech, Inc		64
953	*	Trimeris, Inc		11
3,296	*	URS Corp		139
1,753		Washington Group International, Inc		94
2,733		Watson Wyatt & Co Holdings		96
		TOTAL ENGINEERING AND MANAGEMENT SERVICES		7,522
ENVIRONMENTAL QUALITY AND HOUSING - 0.00% **
2,403	*	Home Solutions of America, Inc		15
		TOTAL ENVIRONMENTAL QUALITY AND HOUSING		15
FABRICATED METAL PRODUCTS - 0.41%
2,288	*	Alliant Techsystems, Inc		175
532		Ameron International Corp		36
2,187		Aptargroup, Inc		108
6,773		Ball Corp		251
1,064		CIRCOR International, Inc		32
7,854		Commercial Metals Co		202
1,343	*	Commercial Vehicle Group, Inc		28
3,558		Crane Co		148
11,261	*	Crown Holdings, Inc		175
757		Dynamic Materials Corp		25
1,746	*	Griffon Corp		46
546		Gulf Island Fabrication, Inc		11
32,195		Illinois Tool Works, Inc		1,529
916		Insteel Industries, Inc		22
5,881	*	Jacuzzi Brands, Inc		52
904	*	Ladish Co, Inc		34
496		Lifetime Brands, Inc		11
2,280	*	Mobile Mini, Inc		67
1,640	*	Mueller Water Products, Inc		29
1,321	*	NCI Building Systems, Inc		70
6,572		Pentair, Inc		225
1,422		Silgan Holdings, Inc		53
2,552		Simpson Manufacturing Co, Inc		92
1,859	*	Smith & Wesson Holding Corp		15
3,797		Snap-On, Inc		153
3,948	*	Taser International, Inc		31
1,173		Valmont Industries, Inc		54
1,666		Watts Water Technologies, Inc (Class A)		56
		TOTAL FABRICATED METAL PRODUCTS		3,730
FOOD AND KINDRED PRODUCTS - 2.93%
455	*	Altus Pharmaceuticals, Inc		8
49,922		Anheuser-Busch Cos, Inc		2,276
42,189		Archer Daniels Midland Co		1,742
700	*	Boston Beer Co, Inc (Class A)		21
1,626	*	Burger King Holdings, Inc		26
14,917		Campbell Soup Co		554
263		Coca-Cola Bottling Co Consolidated		13
131,382		Coca-Cola Co		5,652
19,411		Coca-Cola Enterprises, Inc		395
33,620		ConAgra Foods, Inc		743
12,816	*	Constellation Brands, Inc (Class A)		320
4,777		Corn Products International, Inc		146
4,436	*	Darling International, Inc		20

24

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
12,900		Del Monte Foods Co	$	145
1,001		Diamond Foods, Inc		16
629		Farmer Bros Co		14
3,338		Flowers Foods, Inc		96
22,365		General Mills, Inc		1,155
3,470	*	Gold Kist, Inc		46
21,607		H.J. Heinz Co		891
1,006	*	Hansen Natural Corp		192
11,183		Hershey Co		616
4,677		Hormel Foods Corp		174
740		Imperial Sugar Co		18
800		J&J Snack Foods Corp		26
3,519		J.M. Smucker Co		157
1,401	*	Jones Soda Co		13
15,921		Kellogg Co		771
13,596		Kraft Foods, Inc (Class A)		420
1,575		Lancaster Colony Corp		62
1,746		Lance, Inc		40
686	*	M&F Worldwide Corp		11
8,708		McCormick & Co, Inc		292
597		MGP Ingredients, Inc		14
3,055		Molson Coors Brewing Co (Class B)		207
518		National Beverage Corp		7
919	*	Peet’s Coffee & Tea, Inc		28
8,968		Pepsi Bottling Group, Inc		288
3,834		PepsiAmericas, Inc		85
106,537		PepsiCo, Inc		6,396
895		Premium Standard Farms, Inc		15
1,922	*	Ralcorp Holdings, Inc		82
1,066		Reddy Ice Holdings, Inc		22
5,547		Reynolds American, Inc		640
1,203		Sanderson Farms, Inc		34
49,033		Sara Lee Corp		785
5,921	*	Smithfield Foods, Inc		171
2,304		Tootsie Roll Industries, Inc		67
2,378		Topps Co, Inc		19
2,025	*	TreeHouse Foods, Inc		48
14,346		Tyson Foods, Inc (Class A)		213
15,136		Wrigley (Wm.) Jr Co		687
		TOTAL FOOD AND KINDRED PRODUCTS		26,879
FOOD STORES - 0.26%
97		Arden Group, Inc (Class A)		11
1,203		Great Atlantic & Pacific Tea Co, Inc		27
700		Ingles Markets, Inc (Class A)		12
46,598		Kroger Co		1,019
1,886	*	Panera Bread Co (Class A)		127
1,414	*	Pantry, Inc		81
3,332	*	Pathmark Stores, Inc		31
2,557		Ruddick Corp		63
13,045		Supervalu, Inc		401
106		Village Super Market		7
611		Weis Markets, Inc		25
9,028		Whole Foods Market, Inc		584
2,108	*	Wild Oats Markets, Inc		41
		TOTAL FOOD STORES		2,429
FORESTRY - 0.13%
5,073		Rayonier, Inc		193
15,586		Weyerhaeuser Co		970
		TOTAL FORESTRY		1,163
FURNITURE AND FIXTURES - 0.34%
5,011	*	BE Aerospace, Inc		115
2,243		Ethan Allen Interiors, Inc		82
2,907		Furniture Brands International, Inc		61
4,477		Herman Miller, Inc		115

25

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
3,882		Hillenbrand Industries, Inc	$	188
3,305		HNI Corp		150
680		Hooker Furniture Corp		11
3,257	*	Interface, Inc (Class A)		37
12,460		Johnson Controls, Inc		1,025
1,737		Kimball International, Inc (Class B)		34
3,352		La-Z-Boy, Inc		47
11,767		Leggett & Platt, Inc		294
25,613		Masco Corp		759
1,305		Sealy Corp		17
3,795	*	Select Comfort Corp		87
778		Stanley Furniture Co, Inc		19
2,894	*	Tempur-Pedic International, Inc		39
1,907	*	Williams Scotsman International, Inc		42
		TOTAL FURNITURE AND FIXTURES		3,122
FURNITURE AND HOMEFURNISHINGS STORES - 0.36%
18,197	*	Bed Bath & Beyond, Inc		604
25,840		Best Buy Co, Inc		1,417
11,465		Circuit City Stores, Inc		312
1,370	*	Cost Plus, Inc		20
4,227	*	GameStop Corp		177
1,692	*	Guitar Center, Inc		75
1,232		Haverty Furniture Cos, Inc		19
2,157		Knoll, Inc		40
3,326	*	Mohawk Industries, Inc		234
6,020		Pier 1 Imports, Inc		42
1,828	*	Restoration Hardware, Inc		13
4,902		Steelcase, Inc (Class A)		81
1,789		Tuesday Morning Corp		24
6,224		Williams-Sonoma, Inc		212
		TOTAL FURNITURE AND HOMEFURNISHINGS STORES		3,270
GENERAL BUILDING CONTRACTORS - 0.36%
115		Amrep Corp		6
310	*	Avatar Holdings, Inc		18
2,556		Beazer Homes USA, Inc		117
985		Brookfield Homes Corp		32
413	*	Cavco Industries, Inc		18
7,822		Centex Corp		393
19,845		DR Horton, Inc		473
3,109	*	Hovnanian Enterprises, Inc (Class A)		94
5,192		KB Home		238
8,603		Lennar Corp (Class A)		382
1,065		Levitt Corp (Class A)		17
862		M/I Homes, Inc		30
4,500	v*	Mascotech (Escrow)		—	^
1,316		McGrath RentCorp		37
2,061		MDC Holdings, Inc		107
1,472	*	Meritage Homes Corp		70
294	*	NVR, Inc		144
1,250	*	Palm Harbor Homes, Inc		22
1,414	*	Perini Corp		32
13,720		Pulte Homes, Inc		395
3,030		Ryland Group, Inc		132
4,272		Standard-Pacific Corp		110
397	*	Team, Inc		10
798		Technical Olympic USA, Inc		11
8,177	*	Toll Brothers, Inc		209
2,645		Walter Industries, Inc		153
2,352	*	WCI Communities, Inc		47
		TOTAL GENERAL BUILDING CONTRACTORS		3,297
GENERAL MERCHANDISE STORES - 1.79%
2,874	*	99 Cents Only Stores		30
7,533	*	Big Lots, Inc		129
4,214	*	BJ’s Wholesale Club, Inc		119

26

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
360		Bon-Ton Stores, Inc	$	8
2,068	*	Cabela’s, Inc		40
3,355		Casey’s General Stores, Inc		84
481	*	Conn’s, Inc		13
30,375		Costco Wholesale Corp		1,735
3,877		Dillard’s, Inc (Class A)		123
20,355		Dollar General Corp		285
10,237		Family Dollar Stores, Inc		250
35,489		Federated Department Stores, Inc		1,299
2,720		Fred’s, Inc		36
14,926		JC Penney Co, Inc		1,008
1,292	*	Retail Ventures, Inc		23
8,388		Saks, Inc		136
1,757		Stein Mart, Inc		26
55,986		Target Corp		2,736
29,511		TJX Cos, Inc		675
158,512		Wal-Mart Stores, Inc		7,635
		TOTAL GENERAL MERCHANDISE STORES		16,390
HEALTH SERVICES - 1.60%
839	*	Alliance Imaging, Inc		5
1,151	*	Amedisys, Inc		44
2,223	*	American Retirement Corp		73
13,644		AmerisourceBergen Corp		572
1,984	*	Amsurg Corp		45
2,667	*	Apria Healthcare Group, Inc		50
535	*	Bio-Reference Labs, Inc		12
788		Brookdale Senior Living, Inc		35
28,514		Caremark Rx, Inc		1,422
7,724		Cigna Corp		761
6,188	*	Community Health Systems, Inc		227
500	*	Corvel Corp		13
3,131	*	Covance, Inc		192
10,414	*	Coventry Health Care, Inc		572
2,321	*	Cross Country Healthcare, Inc		42
6,725	*	DaVita, Inc		334
3,819	*	Edwards Lifesciences Corp		173
300	*	Emeritus Corp		6
1,864	*	Enzo Biochem, Inc		28
7,943	*	Express Scripts, Inc		570
2,040	*	Five Star Quality Care, Inc		23
1,379	*	Genesis HealthCare Corp		65
810	*	Genomic Health, Inc		10
1,497	*	Gentiva Health Services, Inc		24
24,962		HCA, Inc		1,077
15,669		Health Management Associates, Inc (Class A)		309
2,237	*	Healthways, Inc		118
696	*	Horizon Health Corp		15
1,722	*	Hythiam, Inc		12
2,054	*	Kindred Healthcare, Inc		53
8,043	*	Laboratory Corp of America Holdings		500
1,383		LCA-Vision, Inc		73
735	*	LHC Group, Inc		15
3,672	*	LifePoint Hospitals, Inc		118
6,165	*	Lincare Holdings, Inc		233
2,394	*	Magellan Health Services, Inc		108
5,095		Manor Care, Inc		239
1,371	*	Matria Healthcare, Inc		29
19,610		McKesson Corp		927
419	*	Medcath Corp		8
19,449	*	Medco Health Solutions, Inc		1,114
600		National Healthcare Corp		27
5,807	*	Nektar Therapeutics		106
412	*	Nighthawk Radiology Holdings, Inc		7
2,544	*	Odyssey HealthCare, Inc		45
1,288		Option Care, Inc		15

27

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
3,052	*	Pediatrix Medical Group, Inc	$	138
3,409	*	Psychiatric Solutions, Inc		98
745	*	Radiation Therapy Services, Inc		20
1,200	*	RehabCare Group, Inc		21
3,479	*	Sierra Health Services, Inc		157
939	*	Stereotaxis, Inc		10
1,483	*	Sun Healthcare Group, Inc		13
2,773	*	Sunrise Senior Living, Inc		77
1,167	*	Symbion, Inc		24
30,068	*	Tenet Healthcare Corp		210
5,498	*	Triad Hospitals, Inc		218
2,931	*	United Surgical Partners International, Inc		88
2,959		Universal Health Services, Inc (Class B)		149
774	*	VistaCare, Inc (Class A)		9
41,096	*	WellPoint, Inc		2,991
		TOTAL HEALTH SERVICES		14,669
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.01%
2,325		Granite Construction, Inc		105
1,322	*	Matrix Service Co		15
576	*	Sterling Construction Co, Inc		16
		TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING		136
HOLDING AND OTHER INVESTMENT OFFICES - 2.98%
2,760		Aames Investment Corp		14
2,039		Acadia Realty Trust		48
2,052	*	Affiliated Managers Group, Inc		178
1,916	*	Affordable Residential Communities		21
505		Agree Realty Corp		17
142	*	Alexander’s, Inc		39
1,428		Alexandria Real Estate Equities, Inc		127
8,795		Allied Capital Corp		253
5,664		AMB Property Corp		286
900		American Campus Communities, Inc		22
8,501		American Financial Realty Trust		82
2,812		American Home Mortgage Investment Corp		104
10,191		Annaly Mortgage Management, Inc		131
3,218		Anthracite Capital, Inc		39
3,102		Anworth Mortgage Asset Corp		26
6,275		Apartment Investment & Management Co (Class A)		273
5,215		Apollo Investment Corp		96
850		Arbor Realty Trust, Inc		21
13,757		Archstone-Smith Trust		700
2,591		Ashford Hospitality Trust, Inc		33
4,819		AvalonBay Communities, Inc		533
3,602		BioMed Realty Trust, Inc		108
7,392		Boston Properties, Inc		668
5,868		Brandywine Realty Trust		189
3,442		BRE Properties, Inc (Class A)		189
3,627		Camden Property Trust		267
1,573		Capital Lease Funding, Inc		18
190		Capital Southwest Corp		20
800		Capital Trust, Inc		28
3,711		CarrAmerica Realty Corp		165
3,981		CBL & Associates Properties, Inc		155
1,940		Cedar Shopping Centers, Inc		29
700		CentraCore Properties Trust		17
442		Cherokee, Inc		18
2,945		Colonial Properties Trust		145
840		Compass Diversified Trust		12
2,299		Corporate Office Properties Trust		97
2,443		Cousins Properties, Inc		76
4,918		Crescent Real Estate Equities Co		91
3,319		Deerfield Triarc Capital Corp		43
7,195		Developers Diversified Realty Corp		375
4,143		DiamondRock Hospitality Co		61

28

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,202		Digital Realty Trust, Inc	$	30
8,689		Duke Realty Corp		305
1,377		EastGroup Properties, Inc		64
2,300		Education Realty Trust, Inc		38
204	*	Enstar Group, Inc		19
1,723		Entertainment Properties Trust		74
3,491		Equity Inns, Inc		58
1,267		Equity Lifestyle Properties, Inc		56
23,597		Equity Office Properties Trust		862
2,470		Equity One, Inc		52
18,783		Equity Residential		840
1,539		Essex Property Trust, Inc		172
3,400		Extra Space Storage, Inc		55
3,528		Federal Realty Investment Trust		247
3,926		FelCor Lodging Trust, Inc		85
3,283		Fieldstone Investment Corp		30
2,899		First Industrial Realty Trust, Inc		110
1,077		First Potomac Realty Trust		32
3,189		Franklin Street Properties Corp		63
9,089		Friedman Billings Ramsey Group, Inc		100
11,087		General Growth Properties, Inc		500
1,193		Getty Realty Corp		34
638		Gladstone Capital Corp		14
1,072		Gladstone Investment Corp		16
2,035		Glenborough Realty Trust, Inc		44
2,171		Glimcher Realty Trust		54
1,007		Global Signal, Inc		47
3,200		GMH Communities Trust		42
1,100		Gramercy Capital Corp		28
1,356		Harris & Harris Group, Inc		15
9,021		Health Care Property Investors, Inc		241
3,867		Health Care REIT, Inc		135
3,212		Healthcare Realty Trust, Inc		102
1,842		Heritage Property Investment Trust		64
1,330		Hersha Hospitality Trust		12
3,843		Highland Hospitality Corp		54
3,647		Highwoods Properties, Inc		132
2,224		Home Properties, Inc		123
3,816		HomeBanc Corp		30
4,570		Hospitality Properties Trust		201
33,534		Host Marriott Corp		733
13,475		HRPT Properties Trust		156
5,056		IMPAC Mortgage Holdings, Inc		57
4,513		Inland Real Estate Corp		67
2,862		Innkeepers U.S.A. Trust		49
3,315		Investors Real Estate Trust		30
2,100		iShares Russell 2000 Index Fund		151
51,000		iShares Russell 3000 Index Fund		3,759
1,700		iShares Russell Midcap Index Fund		156
7,312		iStar Financial, Inc		276
1,655		JER Investors Trust, Inc		26
2,062		Kilroy Realty Corp		149
13,250		Kimco Realty Corp		483
1,900		Kite Realty Group Trust		30
4,408		KKR Financial Corp		92
2,579		LaSalle Hotel Properties		119
3,317		Lexington Corporate Properties Trust		72
5,846		Liberty Property Trust		258
1,314		LTC Properties, Inc		29
2,561		Luminent Mortgage Capital, Inc		24
4,628		Macerich Co		325
4,122		Mack-Cali Realty Corp		189
2,313		Maguire Properties, Inc		81
2,550		Medical Properties Trust, Inc		28
5,284		MFA Mortgage Investments, Inc		36
1,526		Mid-America Apartment Communities, Inc		85

29

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
3,769		Mills Corp	$	101
1,500		MortgageIT Holdings, Inc		18
1,400		National Health Investors, Inc		38
3,443		National Retail Properties, Inc		69
4,557		Nationwide Health Properties, Inc		103
2,944		New Century Financial Corp		135
6,949		New Plan Excel Realty Trust		172
2,873		Newcastle Investment Corp		73
980		Newkirk Realty Trust, Inc		17
1,752		NorthStar Realty Finance Corp		21
1,737		Novastar Financial, Inc		55
16,714		NTL, Inc		416
4,121		Omega Healthcare Investors, Inc		54
2,662		Pan Pacific Retail Properties, Inc		185
946		Parkway Properties, Inc		43
2,448		Pennsylvania Real Estate Investment Trust		99
11,920		Plum Creek Timber Co, Inc		423
2,677		Post Properties, Inc		121
2,494		Potlatch Corp		94
15,911		Prologis		829
1,073		PS Business Parks, Inc		63
5,400		Public Storage, Inc		410
1,730		RAIT Investment Trust		51
992		Ramco-Gershenson Properties		27
5,400		Realty Income Corp		118
5,491		Reckson Associates Realty Corp		227
1,251		Redwood Trust, Inc		61
4,304		Regency Centers Corp		267
1,640		Republic Property Trust		16
598	*	Rockville Financial, Inc		9
700		Saul Centers, Inc		29
3,400		Saxon Capital, Inc		39
3,728		Senior Housing Properties Trust		67
3,097		Shurgard Storage Centers, Inc (Class A)		194
14,156		Simon Property Group, Inc		1,174
1,224		Sizeler Property Investors, Inc		20
2,809		SL Green Realty Corp		308
1,302		Sovran Self Storage, Inc		66
200		SPDR Trust Series 1		25
5,313		Spirit Finance Corp		60
700	*	Star Maritime Acquisition Corp		7
4,727		Strategic Hotel Capital, Inc		98
1,069		Sun Communities, Inc		35
3,736		Sunstone Hotel Investors, Inc		109
1,844		Tanger Factory Outlet Centers, Inc		60
687		Tarragon Corp		10
3,403		Taubman Centers, Inc		139
6,865		Thornburg Mortgage, Inc		191
6,212		Trizec Properties, Inc		178
4,211		Trustreet Properties, Inc		56
8,850		United Dominion Realty Trust, Inc		248
1,095		Universal Health Realty Income Trust		34
1,407		Urstadt Biddle Properties, Inc (Class A)		23
3,042		U-Store-It Trust		57
6,504		Ventas, Inc		220
7,792		Vornado Realty Trust		760
2,850		Washington Real Estate Investment Trust		105
5,176		Weingarten Realty Investors		198
1,308		Windrose Medical Properties Trust		19
2,315		Winston Hotels, Inc		28
1,485		Winthrop Realty Trust		9
		TOTAL HOLDING AND OTHER INVESTMENT OFFICES		27,335
HOTELS AND OTHER LODGING PLACES - 0.51%
1,418		Ameristar Casinos, Inc		28
2,386	*	Aztar Corp		124

30

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,131	*	Bluegreen Corp	$	13
2,948		Boyd Gaming Corp		119
2,172		Choice Hotels International, Inc		132
2,696	*	Gaylord Entertainment Co		118
1,718	*	Great Wolf Resorts, Inc		21
24,789		Hilton Hotels Corp		701
1,142	*	Isle of Capri Casinos, Inc		29
8,925	*	Las Vegas Sands Corp		695
920	*	Lodgian, Inc		13
1,242		Marcus Corp		26
22,149		Marriott International, Inc (Class A)		844
7,706	*	MGM Mirage		314
604	*	Monarch Casino & Resort, Inc		17
1,158	*	Morgans Hotel Group Co		18
821	*	Outdoor Channel Holdings, Inc		8
566	*	Riviera Holdings Corp		11
14,011		Starwood Hotels & Resorts Worldwide, Inc		846
3,348		Station Casinos, Inc		228
1,798	*	Trump Entertainment Resorts, Inc		36
2,055	*	Vail Resorts, Inc		76
3,169	*	Wynn Resorts Ltd		232
		TOTAL HOTELS AND OTHER LODGING PLACES		4,649
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.33%
48,611		3M Co		3,926
676		Aaon, Inc		17
1,797		Actuant Corp		90
4,453	*	Advanced Digital Information Corp		52
5,864	*	AGCO Corp		154
1,703		Albany International Corp (Class A)		72
895	*	Allis-Chalmers Energy, Inc		12
11,480		American Standard Cos, Inc		497
475		Ampco-Pittsburgh Corp		14
54,833	*	Apple Computer, Inc		3,132
100,843		Applied Materials, Inc		1,642
1,200	*	Astec Industries, Inc		41
1,361	*	ASV, Inc		31
3,264	*	Asyst Technologies, Inc		25
7,081	*	Axcelis Technologies, Inc		42
4,838		Black & Decker Corp		409
1,381		Black Box Corp		53
2,004	*	Blount International, Inc		24
3,368		Briggs & Stratton Corp		105
5,171	*	Brooks Automation, Inc		61
2,058		Bucyrus International, Inc (Class A)		104
7,368	*	Cameron International Corp		352
1,900		Carlisle Cos, Inc		151
674		Cascade Corp		27
43,167		Caterpillar, Inc		3,215
3,933		CDW Corp		215
5,864	*	Cirrus Logic, Inc		48
1,162	*	Columbus McKinnon Corp		25
3,015		Cummins, Inc		369
2,836		Curtiss-Wright Corp		88
2,481	*	Cymer, Inc		115
15,124		Deere & Co		1,263
149,373	*	Dell, Inc		3,646
4,361		Diebold, Inc		177
4,851		Donaldson Co, Inc		164
13,137		Dover Corp		649
2,002	*	Dresser-Rand Group, Inc		47
715	*	Dril-Quip, Inc		59
9,702		Eaton Corp		732
3,700	*	Electronics for Imaging, Inc		77
152,408	*	EMC Corp		1,672
5,455	*	Emulex Corp		89

31

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
981	*	ENGlobal Corp	$	8
1,375	*	EnPro Industries, Inc		46
8,875	*	Entegris, Inc		85
7,347	*	Extreme Networks, Inc		30
831	*	Fargo Electronics, Inc		21
909	*	Flanders Corp		9
2,258	*	Flow International Corp		32
3,680	*	Flowserve Corp		209
4,666	*	FMC Technologies, Inc		315
3,376	*	Gardner Denver, Inc		130
15,479	*	Gateway, Inc		29
673	*	Gehl Co		17
1,525	*	Global Imaging Systems, Inc		63
1,504	*	Goodman Global, Inc		23
673		Gorman-Rupp Co		18
4,528		Graco, Inc		208
8,523	*	Grant Prideco, Inc		381
180,675		Hewlett-Packard Co		5,724
1,276	*	Hydril		100
3,430		IDEX Corp		162
3,395	*	Intermec, Inc		78
99,950		International Business Machines Corp		7,678
21,862		International Game Technology		829
1,163	*	Intevac, Inc		25
11,645		Jabil Circuit, Inc		298
7,920		Joy Global, Inc		413
993	*	Kadant, Inc		23
1,979		Kaydon Corp		74
2,611		Kennametal, Inc		162
1,974	*	Komag, Inc		91
3,600	*	Kulicke & Soffa Industries, Inc		27
9,062	*	Lam Research Corp		422
659	*	LB Foster Co		16
3,798		Lennox International, Inc		101
6,848	*	Lexmark International, Inc		382
700		Lindsay Manufacturing Co		19
949		Lufkin Industries, Inc		56
4,030		Manitowoc Co, Inc		179
2,549	*	Micros Systems, Inc		111
430	*	Middleby Corp		37
2,342		Modine Manufacturing Co		55
381		Nacco Industries, Inc (Class A)		52
937	*	NATCO Group, Inc		38
2,164	*	Netgear, Inc		47
1,000		NN, Inc		12
1,891		Nordson Corp		93
3,203	*	Oil States International, Inc		110
8,166		Pall Corp		229
5,810	*	Palm, Inc		94
7,779		Parker Hannifin Corp		604
2,653	*	Paxar Corp		55
1,773	*	ProQuest Co		22
12,525	*	Quantum Corp		33
1,782	*	Rackable Systems, Inc		70
1,335	*	RBC Bearings, Inc		30
600		Robbins & Myers, Inc		16
11,439		Rockwell Automation, Inc		824
7,798	*	Safeguard Scientifics, Inc		17
12,594	*	SanDisk Corp		642
744		Sauer-Danfoss, Inc		19
1,742	*	Scansource, Inc		51
4,306	*	Scientific Games Corp (Class A)		153
16,448	v*	Seagate Technology, Inc		—	^
1,100	*	Semitool, Inc		10
1,425	*	Sigma Designs, Inc		13
13,801		Smith International, Inc		614

32

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
59,015	*	Solectron Corp	$	202
3,849		SPX Corp		215
800		Standex International Corp		24
5,279		Stanley Works		249
16,219		Symbol Technologies, Inc		175
1,000	*	Tecumseh Products Co (Class A)		19
600		Tennant Co		30
3,200	*	Terex Corp		316
5,313		Timken Co		178
2,690		Toro Co		126
881	*	TurboChef Technologies, Inc		10
1,608	*	Ultratech, Inc		25
8,594	*	Varian Medical Systems, Inc		407
2,504	*	VeriFone Holdings, Inc		76
1,794		Watsco, Inc		107
14,492	*	Western Digital Corp		287
2,025		Woodward Governor Co		62
4,849	*	Zebra Technologies Corp (Class A)		166
		TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT		48,891
INSTRUMENTS AND RELATED PRODUCTS - 4.07%
1,214	*	Abaxis, Inc		27
1,059	*	Abiomed, Inc		14
657	*	ADE Corp		21
4,372	*	Advanced Medical Optics, Inc		222
4,200	*	Affymetrix, Inc		108
27,467	*	Agilent Technologies, Inc		867
3,618	*	Align Technology, Inc		27
9,670		Allergan, Inc		1,037
4,631	*	American Medical Systems Holdings, Inc		77
543	*	American Science & Engineering, Inc		31
928		Analogic Corp		43
1,600	*	Anaren, Inc		33
774	*	Angiodynamics, Inc		21
11,925		Applera Corp (Applied Biosystems Group)		386
600	*	Argon ST, Inc		16
1,344		Arrow International, Inc		44
1,690	*	Arthrocare Corp		71
1,087	*	Aspect Medical Systems, Inc		19
742		Badger Meter, Inc		20
6,676		Bard (C.R.), Inc		489
3,462		Bausch & Lomb, Inc		170
42,221		Baxter International, Inc		1,552
4,152		Beckman Coulter, Inc		231
15,947		Becton Dickinson & Co		975
15,865		Biomet, Inc		496
1,200	*	Bio-Rad Laboratories, Inc (Class A)		78
1,130	*	Biosite, Inc		52
79,583	*	Boston Scientific Corp		1,340
1,542	*	Bruker BioSciences Corp		8
1,510	*	Candela Corp		24
2,899	*	Cepheid, Inc		28
1,768	*	Cerus Corp		13
961		CNS, Inc		24
2,100	*	Coherent, Inc		71
1,500		Cohu, Inc		26
1,940	*	Conmed Corp		40
2,953		Cooper Cos, Inc		131
5,665	*	Credence Systems Corp		20
1,543	*	Cyberonics, Inc		33
15,275		Danaher Corp		982
800		Datascope Corp		25
5,200		Dentsply International, Inc		315
2,325	*	Depomed, Inc		14
1,099	*	DexCom, Inc		15
1,255	*	Dionex Corp		69

33

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,467	*	DJ Orthopedics, Inc	$	54
2,562		DRS Technologies, Inc		125
462	*	Eagle Test Systems, Inc		6
18,715		Eastman Kodak Co		445
1,002		EDO Corp		24
3,891	*	Encore Medical Corp		19
1,718	*	ESCO Technologies, Inc		92
1,694	*	Esterline Technologies Corp		70
719	*	ev3, Inc		11
833	*	Excel Technology, Inc		25
1,709	*	FEI Co		39
7,939	*	Fisher Scientific International, Inc		580
4,309	*	Flir Systems, Inc		95
2,946	*	Formfactor, Inc		131
3,163	*	Fossil, Inc		57
1,217	*	Foxhollow Technologies, Inc		33
1,733	*	Haemonetics Corp		81
2,292	*	HealthTronics, Inc		18
850	*	Herley Industries, Inc		10
2,934	*	Hologic, Inc		145
919	*	ICU Medical, Inc		39
1,260	*	I-Flow Corp		14
1,400	*	II-VI, Inc		26
2,696	*	Illumina, Inc		80
4,300	*	Input/Output, Inc		41
1,332	*	Integra LifeSciences Holdings Corp		52
2,632	*	Intermagnetics General Corp		71
1,355	*	Intralase Corp		23
2,329	*	Intuitive Surgical, Inc		275
2,044		Invacare Corp		51
1,673	*	Ionatron, Inc		11
1,083	*	IRIS International, Inc		14
1,741	*	Itron, Inc		103
2,194	*	Ixia		20
190,893		Johnson & Johnson		11,438
520	*	Kensey Nash Corp		15
12,836		Kla-Tencor Corp		534
4,991	*	Kopin Corp		18
2,840	*	Kyphon, Inc		109
1,257	*	Laserscope		39
4,233	*	LTX Corp		30
742	*	Measurement Specialties, Inc		16
582	*	Medical Action Industries, Inc		13
77,825		Medtronic, Inc		3,652
2,502		Mentor Corp		109
1,469	*	Merit Medical Systems, Inc		20
2,775	*	Mettler-Toledo International, Inc		168
3,429	*	Millipore Corp		216
1,938		Mine Safety Appliances Co		78
2,254	*	MKS Instruments, Inc		45
1,101	*	Molecular Devices Corp		34
1,178		Movado Group, Inc		27
1,408		MTS Systems Corp		56
3,725		National Instruments Corp		102
1,185	*	Natus Medical, Inc		12
801	*	Neurometrix, Inc		24
2,716	*	Newport Corp		44
398	*	Nextest Systems Corp		6
710	*	Northstar Neuroscience, Inc		7
2,136	*	NuVasive, Inc		39
794	*	NxStage Medical, Inc		7
1,667		Oakley, Inc		28
246	*	OYO Geospace Corp		14
1,140	*	Palomar Medical Technologies, Inc		52
8,180		PerkinElmer, Inc		171
1,200	*	Photon Dynamics, Inc		15

34

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
14,321		Pitney Bowes, Inc	$	591
1,626		PolyMedica Corp		58
2,550	*	RAE Systems, Inc		10
4,869	*	Resmed, Inc		229
4,842	*	Respironics, Inc		166
1,037	*	Rofin-Sinar Technologies, Inc		60
5,730		Roper Industries, Inc		268
1,464	*	Rudolph Technologies, Inc		21
3,325	*	Sirf Technology Holdings, Inc		107
1,080		Sirona Dental Systems, Inc		43
1,305	*	Sonic Solutions, Inc		21
957	*	SonoSite, Inc		37
1,958	*	Spectranetics Corp		21
23,317	*	St. Jude Medical, Inc		756
4,504		STERIS Corp		103
19,295		Stryker Corp		812
2,227	*	Symmetry Medical, Inc		34
2,700	*	Techne Corp		137
5,600		Tektronix, Inc		165
2,183	*	Teledyne Technologies, Inc		71
12,883	*	Teradyne, Inc		179
10,550	*	Thermo Electron Corp		382
3,100	*	ThermoGenesis Corp		13
3,422	*	Thoratec Corp		47
3,521	*	Trimble Navigation Ltd		157
1,583	*	TriPath Imaging, Inc		10
688		United Industrial Corp		31
2,110	*	Varian, Inc		88
1,820	*	Veeco Instruments, Inc		43
2,000	*	Ventana Medical Systems, Inc		94
1,897	*	Viasys Healthcare, Inc		49
1,413	*	Viisage Technology, Inc		21
828	*	Vital Images, Inc		20
400		Vital Signs, Inc		20
6,718	*	Waters Corp		298
2,200	*	Wright Medical Group, Inc		46
59,218	*	Xerox Corp		824
1,200		X-Rite, Inc		13
311		Young Innovations, Inc		11
16,036	*	Zimmer Holdings, Inc		909
600	*	Zoll Medical Corp		20
1,176	*	Zygo Corp		19
		TOTAL INSTRUMENTS AND RELATED PRODUCTS		37,327
INSURANCE AGENTS, BROKERS AND SERVICE - 0.43%
20,550		AON Corp		716
7,308		Brown & Brown, Inc		214
1,019		Clark, Inc		13
2,076		Crawford & Co (Class B)		15
6,200		Gallagher (Arthur J.) & Co		157
19,238		Hartford Financial Services Group, Inc		1,627
2,336		Hilb Rogal & Hobbs Co		87
572	*	James River Group, Inc		14
35,178		Marsh & McLennan Cos, Inc		946
2,320		National Financial Partners Corp		103
3,049	*	USI Holdings Corp		41
		TOTAL INSURANCE AGENTS, BROKERS AND SERVICE		3,933
INSURANCE CARRIERS - 4.54%
2,172		21st Century Insurance Group		31
36,551		Aetna, Inc		1,459
676		Affirmative Insurance Holdings, Inc		11
32,746		Aflac, Inc		1,518
2,273		Alfa Corp		38
334	*	Alleghany Corp		92
40,965		Allstate Corp		2,242

35

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
6,819		Ambac Financial Group, Inc	$	553
3,620		American Equity Investment Life Holding Co		39
3,629		American Financial Group, Inc		156
142,011		American International Group, Inc		8,386
615		American National Insurance Co		80
652	*	American Physicians Capital, Inc		34
3,440	*	AMERIGROUP Corp		107
2,663		AmerUs Group Co		156
1,866	*	Argonaut Group, Inc		56
8,248		Assurant, Inc		399
625		Baldwin & Lyons, Inc (Class B)		16
1,052		Bristol West Holdings, Inc		17
1,643		Capital Title Group, Inc		12
2,823	*	Centene Corp		66
26,749		Chubb Corp		1,335
10,033		Cincinnati Financial Corp		472
1,505	*	CNA Financial Corp		50
1,100	*	CNA Surety Corp		19
3,534		Commerce Group, Inc		104
10,017	*	Conseco, Inc		231
2,592		Delphi Financial Group, Inc (Class A)		94
900		Direct General Corp		15
850		Donegal Group, Inc		16
168		EMC Insurance Group, Inc		5
3,457		Erie Indemnity Co (Class A)		180
881		FBL Financial Group, Inc (Class A)		29
10,739		Fidelity National Financial, Inc		418
1,905		Fidelity National Title Group, Inc		37
1,175	*	First Acceptance Corp		14
5,326		First American Corp		225
558	*	Fpic Insurance Group, Inc		22
28,526		Genworth Financial, Inc		994
500		Great American Financial Resources, Inc		10
3,274		Hanover Insurance Group, Inc		155
1,439		Harleysville Group, Inc		46
7,008		HCC Insurance Holdings, Inc		206
7,394	*	Health Net, Inc		334
1,750	*	HealthExtras, Inc		53
1,202	*	Healthspring, Inc		23
2,970		Horace Mann Educators Corp		50
10,571	*	Humana, Inc		568
423		Independence Holding Co		9
1,436		Infinity Property & Casualty Corp		59
314		Kansas City Life Insurance Co		13
1,114		LandAmerica Financial Group, Inc		72
10,535		Leucadia National Corp		308
18,133		Lincoln National Corp		1,023
28,573		Loews Corp		1,013
661	*	Markel Corp		229
8,606		MBIA, Inc		504
1,665	*	Meadowbrook Insurance Group, Inc		14
1,767		Mercury General Corp		100
29,206		Metlife, Inc		1,496
5,583		MGIC Investment Corp		363
742		Midland Co		28
720	*	Molina Healthcare, Inc		27
1,024		National Interstate Corp		28
154		National Western Life Insurance Co (Class A)		37
3,152		Nationwide Financial Services, Inc (Class A)		139
838	*	Navigators Group, Inc		37
376		NYMAGIC, Inc		11
846		Odyssey Re Holdings Corp		22
4,060		Ohio Casualty Corp		121
14,741		Old Republic International Corp		315
3,636	*	Philadelphia Consolidated Holding Co		110
7,094		Phoenix Cos, Inc		100

36

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,846	*	PMA Capital Corp (Class A)	$	19
5,765		PMI Group, Inc		257
1,393		Presidential Life Corp		34
17,972		Principal Financial Group		1,000
2,003	*	ProAssurance Corp		97
50,987		Progressive Corp		1,311
4,643		Protective Life Corp		216
31,725		Prudential Financial, Inc		2,465
5,332		Radian Group, Inc		329
1,878		Reinsurance Group Of America, Inc		92
1,557		RLI Corp		75
7,768		Safeco Corp		438
784		Safety Insurance Group, Inc		37
646	*	SCPIE Holdings, Inc		15
999	*	SeaBright Insurance Holdings, Inc		16
1,800		Selective Insurance Group, Inc		101
44,205		St. Paul Travelers Cos, Inc		1,971
3,673		Stancorp Financial Group, Inc		187
913		State Auto Financial Corp		30
1,214		Stewart Information Services Corp		44
6,553		Torchmark Corp		398
1,074		Tower Group, Inc		32
1,735		Transatlantic Holdings, Inc		97
648	*	Triad Guaranty, Inc		32
1,337		United Fire & Casualty Co		40
86,842		UnitedHealth Group, Inc		3,889
3,055		Unitrin, Inc		133
2,474	*	Universal American Financial Corp		32
19,188		UnumProvident Corp		348
10,431		W.R. Berkley Corp		356
2,061	*	WellCare Health Plans, Inc		101
91		Wesco Financial Corp		35
2,375		Zenith National Insurance Corp		94
		TOTAL INSURANCE CARRIERS		41,672
JUSTICE, PUBLIC ORDER AND SAFETY - 0.02%
2,636	*	Corrections Corp of America		140
832	*	Geo Group, Inc		29
		TOTAL JUSTICE, PUBLIC ORDER AND SAFETY		169
LEATHER AND LEATHER PRODUCTS - 0.12%
24,962	*	Coach, Inc		746
634	*	CROCS, Inc		16
1,554	*	Genesco, Inc		53
2,283	*	Iconix Brand Group, Inc		37
1,333		Steven Madden Ltd		40
3,409	*	Timberland Co (Class A)		89
378		Weyco Group, Inc		9
3,523		Wolverine World Wide, Inc		82
		TOTAL LEATHER AND LEATHER PRODUCTS		1,072
LEGAL SERVICES - 0.01%
2,772	*	FTI Consulting, Inc		74
852		Pre-Paid Legal Services, Inc		30
		TOTAL LEGAL SERVICES		104
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.02%
6,295		Laidlaw International, Inc		159
		TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT		159
LUMBER AND WOOD PRODUCTS - 0.04%
660		American Woodmark Corp		23
4,900	*	Champion Enterprises, Inc		54

37

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
742		Deltic Timber Corp	$	42
6,963		Louisiana-Pacific Corp		153
442		Skyline Corp		19
979		Universal Forest Products, Inc		61
		TOTAL LUMBER AND WOOD PRODUCTS		352
METAL MINING - 0.39%
1,482		Cleveland-Cliffs, Inc		117
17,376	*	Coeur d’Alene Mines Corp		84
12,118		Freeport-McMoRan Copper & Gold, Inc (Class A)		671
8,220	*	Hecla Mining Co		43
27,024		Newmont Mining Corp		1,430
13,140		Phelps Dodge Corp		1,080
1,140		Royal Gold, Inc		32
437		Southern Copper Corp		39
3,068	*	Stillwater Mining Co		39
		TOTAL METAL MINING		3,535
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.20%
2,000		Blyth, Inc		37
4,691		Callaway Golf Co		61
2,509		Daktronics, Inc		72
9,381		Fortune Brands, Inc		666
10,324		Hasbro, Inc		187
5,789	*	Identix, Inc		41
1,657	*	Jakks Pacific, Inc		33
3,216	*	K2, Inc		35
1,066		Marine Products Corp		10
25,126		Mattel, Inc		415
2,137		Nautilus, Inc		34
2,416	*	Progressive Gaming International Corp		19
1,217	*	RC2 Corp		47
700	*	Russ Berrie & Co, Inc		9
2,343	*	Shuffle Master, Inc		77
467	*	Steinway Musical Instruments, Inc		11
2,613		Yankee Candle Co, Inc		65
		TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES		1,819
MISCELLANEOUS RETAIL - 1.19%
1,264	*	1-800-FLOWERS.COM, Inc (Class A)		7
872	*	AC Moore Arts & Crafts, Inc		14
20,120	*	Amazon.com, Inc		778
3,240		Barnes & Noble, Inc		118
1,412		Big 5 Sporting Goods Corp		28
1,004	*	Blue Nile, Inc		32
921		Books-A-Million, Inc		15
4,469		Borders Group, Inc		82
968	*	Build-A-Bear Workshop, Inc		21
2,000		Cash America International, Inc		64
3,306	*	CKX, Inc		45
3,853	*	Coldwater Creek, Inc		103
52,893		CVS Corp		1,624
1,202	*	dELiA*s, Inc		10
2,338	*	Dick’s Sporting Goods, Inc		93
6,881	*	Dollar Tree Stores, Inc		182
3,077	*	Drugstore.com, Inc		9
774	*	Ezcorp, Inc		29
2,059	*	GSI Commerce, Inc		28
2,439	*	Hibbett Sporting Goods, Inc		58
2,107		Longs Drug Stores Corp		96
8,518		Michaels Stores, Inc		351
2,547		MSC Industrial Direct Co (Class A)		121
2,071	*	Nutri/System, Inc		129

38

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
18,558	*	Office Depot, Inc	$	705
4,584		OfficeMax, Inc		187
840	*	Overstock.com, Inc		18
3,889	*	Petco Animal Supplies, Inc		79
9,053		Petsmart, Inc		232
1,516	*	Priceline.com, Inc		45
35,035	*	Rite Aid Corp		149
5,500	*	Sears Holdings Corp		852
470	*	Sportsman’s Guide, Inc		14
1,250	*	Stamps.com, Inc		35
46,948		Staples, Inc		1,142
9,358		Tiffany & Co		309
1,504	*	Valuevision International, Inc (Class A)		17
65,131		Walgreen Co		2,920
1,783		World Fuel Services Corp		82
3,026	*	Zale Corp		73
933	*	Zumiez, Inc		35
		TOTAL MISCELLANEOUS RETAIL		10,931
MOTION PICTURES - 1.36%
2,781	*	Avid Technology, Inc		93
12,560	*	Blockbuster, Inc (Class A)		62
840		Carmike Cinemas, Inc		18
18,085	*	Discovery Holding Co (Class A)		265
2,719	*	DreamWorks Animation SKG, Inc (Class A)		62
1,016	*	Gaiam, Inc		14
3,427	*	Macrovision Corp		74
148,436		News Corp (Class A)		2,847
3,910		Regal Entertainment Group (Class A)		79
4,661	*	Time Warner Telecom, Inc (Class A)		69
270,540		Time Warner, Inc		4,680
140,919		Walt Disney Co		4,228
		TOTAL MOTION PICTURES		12,491
NONDEPOSITORY INSTITUTIONS - 1.75%
1,136	*	Accredited Home Lenders Holding Co		54
4,592		Advance America Cash Advance Centers, Inc		81
1,255		Advanta Corp (Class B)		45
8,323		American Capital Strategies Ltd		279
70,085		American Express Co		3,730
8,444	*	AmeriCredit Corp		236
2,425		Ares Capital Corp		41
645		Asta Funding, Inc		24
19,541		Capital One Financial Corp		1,670
5,801		CapitalSource, Inc		136
3,111		CharterMac		58
12,853		CIT Group, Inc		672
1,233	*	CompuCredit Corp		47
38,559		Countrywide Financial Corp		1,468
614	*	Credit Acceptance Corp		17
5,925		Doral Financial Corp		38
62,542		Fannie Mae		3,008
591		Federal Agricultural Mortgage Corp (Class C)		16
1,621		Financial Federal Corp		45
1,630	*	First Cash Financial Services, Inc		32
1,964		First Marblehead Corp		112
44,611		Freddie Mac		2,543
2,956	*	INVESTools, Inc		24
3,210		MCG Capital Corp		51
925		Medallion Financial Corp		12
1,165	*	Nelnet, Inc		47
1,181		NGP Capital Resources Co		17
2,600	*	Ocwen Financial Corp		33
500	*	Penson Worldwide, Inc		9
26,494		SLM Corp		1,402
258		Student Loan Corp		52

39

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,200		Technology Investment Capital Corp	$	18
647	*	United PanAm Financial Corp		20
1,332	*	World Acceptance Corp		47
		TOTAL NONDEPOSITORY INSTITUTIONS		16,084
NONMETALLIC MINERALS, EXCEPT FUELS - 0.08%
1,482		AMCOL International Corp		39
2,075		Compass Minerals International, Inc		52
3,187		Florida Rock Industries, Inc		158
6,528		Vulcan Materials Co		509
		TOTAL NONMETALLIC MINERALS, EXCEPT FUELS		758
OIL AND GAS EXTRACTION - 2.41%
29,563		Anadarko Petroleum Corp		1,410
21,293		Apache Corp		1,453
695	*	Arena Resources, Inc		24
1,002	*	Atlas America, Inc		45
1,212	*	ATP Oil & Gas Corp		51
1,792	*	Atwood Oceanics, Inc		89
4,308	*	Aurora Oil & Gas Corp		17
21,970		Baker Hughes, Inc		1,798
795	*	Basic Energy Services, Inc		24
2,505		Berry Petroleum Co (Class A)		83
1,840	*	Bill Barrett Corp		54
20,756		BJ Services Co		773
905	*	Bois d’Arc Energy, Inc		15
2,914	*	Brigham Exploration Co		23
890	*	Bronco Drilling Co, Inc		19
3,263		Cabot Oil & Gas Corp (Class A)		160
1,319	*	Callon Petroleum Co		26
1,285	*	Carrizo Oil & Gas, Inc		40
3,520	*	Cheniere Energy, Inc		137
21,887		Chesapeake Energy Corp		662
5,332		Cimarex Energy Co		229
632	*	Clayton Williams Energy, Inc		22
1,794	*	CNX Gas Corp		54
883	*	Complete Production Services, Inc		21
2,751	*	Comstock Resources, Inc		82
474	*	Dawson Geophysical Co		15
2,443		Delta & Pine Land Co		72
3,436	*	Delta Petroleum Corp		59
7,600	*	Denbury Resources, Inc		241
28,359		Devon Energy Corp		1,713
3,830		Diamond Offshore Drilling, Inc		321
900	*	Edge Petroleum Corp		18
3,307	*	Encore Acquisition Co		89
2,180	*	Energy Partners Ltd		41
9,901		ENSCO International, Inc		456
8,012		Equitable Resources, Inc		268
3,362	*	EXCO Resources, Inc		38
1,841	*	Exploration Co of Delaware, Inc		20
3,346	*	Forest Oil Corp		111
4,373	*	Gasco Energy, Inc		19
1,949	*	GeoGlobal Resources, Inc		10
5,603	*	Global Industries Ltd		94
515	*	GMX Resources, Inc		16
704	*	Goodrich Petroleum Corp		20
12,950	*	Grey Wolf, Inc		100
853	*	Gulfport Energy Corp		9
33,151		Halliburton Co		2,460
6,583	*	Hanover Compressor Co		124
2,496	*	Harvest Natural Resources, Inc		34
4,912	*	Helix Energy Solutions Group, Inc		198
3,449		Helmerich & Payne, Inc		208
1,295	*	Hercules Offshore, Inc		45
1,922	*	Houston Exploration Co		118
3,398	*	KCS Energy, Inc		101

40

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
4,698	*	Mariner Energy, Inc	$	86
1,692	*	McMoRan Exploration Co		30
6,041	*	Meridian Resource Corp		21
1,023	*	Metretek Technologies, Inc		18
11,348	*	National Oilwell Varco, Inc		719
8,238	*	Newfield Exploration Co		403
5,171	*	Newpark Resources, Inc		32
11,486		Noble Energy, Inc		538
3,462	*	Oceaneering International, Inc		159
2,048	*	Parallel Petroleum Corp		51
6,555	*	Parker Drilling Co		47
10,896		Patterson-UTI Energy, Inc		308
361	v*	PetroCorp		—	^
3,587	*	PetroHawk Energy Corp		45
1,400	*	Petroleum Development Corp		53
2,768	*	Petroquest Energy, Inc		34
2,681	*	Pioneer Drilling Co		41
8,324		Pioneer Natural Resources Co		386
5,222	*	Plains Exploration & Production Co		212
3,811		Pogo Producing Co		176
10,387	*	Pride International, Inc		324
1,241	*	Quest Resource Corp		17
4,023	*	Quicksilver Resources, Inc		148
1,325	*	RAM Energy Resources, Inc		8
8,251		Range Resources Corp		224
1,868	*	Remington Oil & Gas Corp		82
3,261	*	Rosetta Resources, Inc		54
6,954		Rowan Cos, Inc		247
1,575		RPC, Inc		38
1,453	*	SEACOR Holdings, Inc		119
11,137	*	Southwestern Energy Co		347
3,800		St. Mary Land & Exploration Co		153
1,752	*	Stone Energy Corp		82
2,208	*	Sulphco, Inc		16
5,137	*	Superior Energy Services		174
720	*	Superior Well Services, Inc		18
2,001	*	Swift Energy Co		86
2,633	*	Syntroleum Corp		16
4,620	*	Tetra Technologies, Inc		140
3,819		Tidewater, Inc		188
3,798		Todco		155
942	*	Toreador Resources Corp		27
4,467	*	Transmeridian Exploration, Inc		25
2,432	*	Transmontaigne, Inc		27
755	*	Trico Marine Services, Inc		26
500	*	Union Drilling, Inc		7
3,093	*	Unit Corp		176
3,680	*	Vaalco Energy, Inc		36
2,260	*	Veritas DGC, Inc		117
1,156		W&T Offshore, Inc		45
3,436	*	Warren Resources, Inc		49
619	*	Warrior Energy Service Corp		15
1,889	*	W-H Energy Services, Inc		96
2,386	*	Whiting Petroleum Corp		100
23,477		XTO Energy, Inc		1,039
		TOTAL OIL AND GAS EXTRACTION		22,109
PAPER AND ALLIED PRODUCTS - 0.52%
6,690		Bemis Co		205
3,865		Bowater, Inc		88
1,676	*	Buckeye Technologies, Inc		13
1,977	*	Caraustar Industries, Inc		18
3,345	*	Cenveo, Inc		60
1,356		Chesapeake Corp		22
2,970		Glatfelter		47
4,634	*	Graphic Packaging Corp		18

41

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,033		Greif, Inc (Class A)	$	77
31,779		International Paper Co		1,026
29,637		Kimberly-Clark Corp		1,829
3,665		Longview Fibre Co		70
11,755		MeadWestvaco Corp		328
1,971	*	Mercer International, Inc		17
1,075		Neenah Paper, Inc		33
4,643		Packaging Corp of America		102
3,621	*	Playtex Products, Inc		38
1,984		Rock-Tenn Co (Class A)		32
1,040		Schweitzer-Mauduit International, Inc		23
16,953	*	Smurfit-Stone Container Corp		185
6,553		Sonoco Products Co		207
7,196		Temple-Inland, Inc		308
3,174		Wausau Paper Corp		40
		TOTAL PAPER AND ALLIED PRODUCTS		4,786
PERSONAL SERVICES - 0.16%
9,052		Cintas Corp		360
1,720		Coinmach Service Corp		18
1,567	*	Coinstar, Inc		38
1,405		G & K Services, Inc (Class A)		48
21,186		H&R Block, Inc		506
2,455		Jackson Hewitt Tax Service, Inc		77
3,015		Regis Corp		107
19,056		Service Corp International		155
587		Unifirst Corp		20
2,992		Weight Watchers International, Inc		122
		TOTAL PERSONAL SERVICES		1,451
PETROLEUM AND COAL PRODUCTS - 5.74%
783		Alon USA Energy, Inc		25
4,076		Ashland, Inc		272
142,897		Chevron Corp		8,868
106,411		ConocoPhillips		6,973
683	*	Delek US Holdings, Inc		10
1,450		ElkCorp		40
15,549		EOG Resources, Inc		1,078
390,061		Exxon Mobil Corp		23,930
7,314		Frontier Oil Corp		237
1,038	*	Giant Industries, Inc		69
2,769	*	Headwaters, Inc		71
15,301		Hess Corp		809
3,104		Holly Corp		150
14,635		Kerr-McGee Corp		1,015
23,364		Marathon Oil Corp		1,946
12,027		Murphy Oil Corp		672
27,366		Occidental Petroleum Corp		2,806
8,555		Sunoco, Inc		593
4,424		Tesoro Corp		329
39,587		Valero Energy Corp		2,633
1,100		WD-40 Co		37
1,509		Western Refining, Inc		33
		TOTAL PETROLEUM AND COAL PRODUCTS		52,596
PRIMARY METAL INDUSTRIES - 1.03%
7,555	*	AK Steel Holding Corp		104
56,094		Alcoa, Inc		1,815
2,148	*	Aleris International, Inc		98
6,427		Allegheny Technologies, Inc		445
2,599		Belden CDT, Inc		86
1,200	*	Brush Engineered Materials, Inc		25
1,656		Carpenter Technology Corp		191
1,483	*	Century Aluminum Co		53
1,500	*	Chaparral Steel Co		108
3,800	*	CommScope, Inc		119

42

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
100,361	*	Corning, Inc	$	2,428
1,511	*	Encore Wire Corp		54
3,250	*	General Cable Corp		114
1,633		Gibraltar Industries, Inc		47
3,939		Hubbell, Inc (Class B)		188
2,054	*	Lone Star Technologies, Inc		111
1,977		Matthews International Corp (Class A)		68
2,342	*	Maverick Tube Corp		148
2,431		Mueller Industries, Inc		80
1,498	*	NS Group, Inc		83
20,091		Nucor Corp		1,090
529		Olympic Steel, Inc		19
2,245	*	Oregon Steel Mills, Inc		114
8,740		Precision Castparts Corp		522
2,569		Quanex Corp		111
1,496	*	RTI International Metals, Inc		84
1,362		Schnitzer Steel Industries, Inc (Class A)		48
3,095		Steel Dynamics, Inc		204
697		Steel Technologies, Inc		14
1,141	*	Superior Essex, Inc		34
1,500		Texas Industries, Inc		80
4,771	*	Titanium Metals Corp		164
1,864		Tredegar Corp		30
7,019		United States Steel Corp		492
917	*	Wheeling-Pittsburgh Corp		18
4,742		Worthington Industries, Inc		99
		TOTAL PRIMARY METAL INDUSTRIES		9,488
PRINTING AND PUBLISHING - 0.64%
2,726	*	ACCO Brands Corp		60
3,442		American Greetings Corp (Class A)		72
1,700		Banta Corp		79
5,738		Belo (A.H.) Corp Series A		90
2,400		Bowne & Co, Inc		34
734	*	Consolidated Graphics, Inc		38
594		Courier Corp		24
269		CSS Industries, Inc		8
3,810		Dow Jones & Co, Inc		133
4,434	*	Dun & Bradstreet Corp		309
1,693		Ennis, Inc		33
5,407		EW Scripps Co		233
15,330		Gannett Co, Inc		857
3,853		Harte-Hanks, Inc		99
4,875		Hollinger International, Inc		39
1,911		John H Harland Co		83
3,300		John Wiley & Sons, Inc (Class A)		110
2,807		Journal Communications, Inc		32
2,824		Journal Register Co		25
2,965		Lee Enterprises, Inc		80
1,522	*	Martha Stewart Living Omnimedia, Inc (Class A)		25
3,628		McClatchy Co (Class A)		146
23,064		McGraw-Hill Cos, Inc		1,159
1,425		Media General, Inc (Class A)		60
2,490		Meredith Corp		123
8,530		New York Times Co (Class A)		209
945	*	Playboy Enterprises, Inc (Class B)		9
2,200	*	Presstek, Inc		20
9,402	*	Primedia, Inc		17
1,699	*	Private Media Group Ltd		8
3,336		R.H. Donnelley Corp		180
13,928		R.R. Donnelley & Sons Co		445
6,850		Reader’s Digest Association, Inc (Class A)		96
977		Schawk, Inc		17
2,073	*	Scholastic Corp		54
1,179		Standard Register Co		14

43

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
15,325		Tribune Co	$	497
3,018	*	Valassis Communications, Inc		71
356		Washington Post Co (Class B)		278
		TOTAL PRINTING AND PUBLISHING		5,866
RAILROAD TRANSPORTATION - 0.68%
23,504		Burlington Northern Santa Fe Corp		1,863
14,151		CSX Corp		997
2,172		Florida East Coast Industries		114
2,350	*	Genesee & Wyoming, Inc (Class A)		83
4,812	*	Kansas City Southern Industries, Inc		133
26,479		Norfolk Southern Corp		1,409
17,185		Union Pacific Corp		1,598
		TOTAL RAILROAD TRANSPORTATION		6,197
REAL ESTATE - 0.13%
2,872	*	Alderwoods Group, Inc		56
520	*	California Coastal Communities, Inc		17
11,914	*	CB Richard Ellis Group, Inc		297
378		Consolidated-Tomoka Land Co		21
4,444		Forest City Enterprises, Inc (Class A)		222
915	*	Housevalues, Inc		6
2,306		Jones Lang LaSalle, Inc		202
785		Orleans Homebuilders, Inc		13
4,886		St. Joe Co		227
7,137		Stewart Enterprises, Inc (Class A)		41
2,316	*	Trammell Crow Co		81
		TOTAL REAL ESTATE		1,183
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.15%
464	*	AEP Industries, Inc		16
1,193	*	Applied Films Corp		34
4,500		Cooper Tire & Rubber Co		50
623	*	Deckers Outdoor Corp		24
10,789	*	Goodyear Tire & Rubber Co		120
3,119	*	Jarden Corp		95
17,815		Newell Rubbermaid, Inc		460
680		PW Eagle, Inc		21
2,068		Schulman (A.), Inc		47
5,333		Sealed Air Corp		278
809	*	Skechers U.S.A., Inc (Class A)		20
2,188		Spartech Corp		49
861		Titan International, Inc		16
714	*	Trex Co, Inc		18
3,650		Tupperware Corp		72
2,075		West Pharmaceutical Services, Inc		75
		TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS		1,395
SECURITY AND COMMODITY BROKERS - 2.83%
4,986		A.G. Edwards, Inc		276
13,853		Ameriprise Financial, Inc		619
7,793		Bear Stearns Cos, Inc		1,092
1,329		BlackRock, Inc		185
1,547		Calamos Asset Management, Inc (Class A)		45
3,408	*	Cbot Holdings, Inc		408
67,978		Charles Schwab Corp		1,086
2,235		Chicago Mercantile Exchange Holdings, Inc		1,098
586		Cohen & Steers, Inc		14
27,304	*	E*Trade Financial Corp		623
8,200		Eaton Vance Corp		205
5,905		Federated Investors, Inc (Class B)		186
10,997		Franklin Resources, Inc		955
448		GAMCO Investors, Inc		16
762	*	GFI Group, Inc		41
24,593		Goldman Sachs Group, Inc		3,700

44

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,134		Greenhill & Co, Inc	$	69
1,300	*	IntercontinentalExchange, Inc		75
2,414		International Securities Exchange, Inc		92
2,790	*	Investment Technology Group, Inc		142
13,764		Janus Capital Group, Inc		246
7,640		Jefferies Group, Inc		226
6,754	*	Knight Capital Group, Inc		103
3,465	*	LaBranche & Co, Inc		42
8,221		Legg Mason, Inc		818
34,525		Lehman Brothers Holdings, Inc		2,249
1,518	*	MarketAxess Holdings, Inc		17
59,397		Merrill Lynch & Co, Inc		4,132
69,053		Morgan Stanley		4,365
913	*	Morningstar, Inc		38
6,078	*	Nasdaq Stock Market, Inc		182
5,100		Nuveen Investments, Inc		219
10,048	*	NYSE Group, Inc		688
1,419		optionsXpress Holdings, Inc		33
1,356	*	Piper Jaffray Cos		83
6,123		Raymond James Financial, Inc		185
870		Sanders Morris Harris Group, Inc		13
4,185		SEI Investments Co		204
766	*	Stifel Financial Corp		27
1,151		SWS Group, Inc		28
17,320		T Rowe Price Group, Inc		655
20,505		TD Ameritrade Holding Corp		304
436	*	Thomas Weisel Partners Group, Inc		8
98		Value Line, Inc		4
5,415		Waddell & Reed Financial, Inc (Class A)		111
		TOTAL SECURITY AND COMMODITY BROKERS		25,907
SOCIAL SERVICES - 0.01%
1,834	*	Bright Horizons Family Solutions, Inc		69
1,396	*	Capital Senior Living Corp		14
617	*	Providence Service Corp		17
1,211	*	Res-Care, Inc		24
		TOTAL SOCIAL SERVICES		124
SPECIAL TRADE CONTRACTORS - 0.05%
246		Alico, Inc		14
1,686		Chemed Corp		92
2,673		Comfort Systems USA, Inc		38
2,650	*	Dycom Industries, Inc		57
2,100	*	EMCOR Group, Inc		102
1,632	*	Insituform Technologies, Inc (Class A)		37
987	*	Integrated Electrical Services, Inc		17
685	*	Layne Christensen Co		20
7,172	*	Quanta Services, Inc		124
		TOTAL SPECIAL TRADE CONTRACTORS		501
STONE, CLAY, AND GLASS PRODUCTS - 0.09%
2,068		Apogee Enterprises, Inc		30
1,725	*	Cabot Microelectronics Corp		52
1,443		CARBO Ceramics, Inc		71
3,273		Eagle Materials, Inc		156
9,943		Gentex Corp		139
10,207	*	Owens-Illinois, Inc		171
2,151	*	US Concrete, Inc		24
2,500	b*	USG Corp		182
		TOTAL STONE, CLAY, AND GLASS PRODUCTS		825
TEXTILE MILL PRODUCTS - 0.00% **
874		Oxford Industries, Inc		34

45

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
905		Xerium Technologies, Inc	$	9
		TOTAL TEXTILE MILL PRODUCTS		43
TOBACCO PRODUCTS - 1.17%
134,624		Altria Group, Inc		9,885
5,637		Loews Corp (Carolina Group)		290
1,760		Universal Corp		65
10,412		UST, Inc		471
2,182		Vector Group Ltd		35
		TOTAL TOBACCO PRODUCTS		10,746
TRANSPORTATION BY AIR - 0.53%
3,864	*	ABX Air, Inc		23
677	*	Air Methods Corp		18
5,873	*	Airtran Holdings, Inc		87
2,436	*	Alaska Air Group, Inc		96
13,522	*	AMR Corp		344
1,291	*	Atlas Air Worldwide Holdings, Inc		63
1,574	*	Bristow Group, Inc		57
5,581	*	Continental Airlines, Inc (Class B)		166
2,194	*	EGL, Inc		110
2,603	*	ExpressJet Holdings, Inc		18
19,616		FedEx Corp		2,292
2,150	*	Frontier Airlines Holdings, Inc		16
11,166	*	JetBlue Airways Corp		136
2,151	*	Mesa Air Group, Inc		21
882	*	PHI, Inc		29
2,007	*	Republic Airways Holdings, Inc		34
4,035		Skywest, Inc		100
51,474		Southwest Airlines Co		843
6,333	*	UAL Corp		197
3,920	*	US Airways Group, Inc		198
		TOTAL TRANSPORTATION BY AIR		4,848
TRANSPORTATION EQUIPMENT - 2.62%
1,197		A.O. Smith Corp		55
2,061	*	AAR Corp		46
1,493	*	Accuride Corp		19
1,438	*	Aftermarket Technology Corp		36
3,187		American Axle & Manufacturing Holdings, Inc		55
569		American Railcar Industries, Inc		19
1,100		Arctic Cat, Inc		21
1,933	*	Armor Holdings, Inc		106
4,699		ArvinMeritor, Inc		81
5,446		Autoliv, Inc		308
2,199	*	Aviall, Inc		104
51,545		Boeing Co		4,222
6,184		Brunswick Corp		206
3,374		Clarcor, Inc		101
940	*	Comtech Group, Inc		10
3,359		Federal Signal Corp		51
3,728	*	Fleetwood Enterprises, Inc		28
114,980		Ford Motor Co		797
809		Freightcar America, Inc		45
3,656	*	GenCorp, Inc		59
26,022		General Dynamics Corp		1,703
29,964		General Motors Corp		893
516	*	GenTek, Inc		14
11,134		Genuine Parts Co		464
7,831		Goodrich Corp		316
869		Greenbrier Cos, Inc		28
1,580		Group 1 Automotive, Inc		89
17,350		Harley-Davidson, Inc		952
2,791		Harsco Corp		218
1,585		Heico Corp		45
1,418	*	IMPCO Technologies, Inc		15

46

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
11,933		ITT Industries, Inc	$	591
6,874		JLG Industries, Inc		155
1,100	*	K&F Industries Holdings, Inc		20
1,612		Kaman Corp (Class A)		29
23,611		Lockheed Martin Corp		1,694
2,945		Martin Marietta Materials, Inc		268
598	*	Miller Industries, Inc		12
1,720		Monaco Coach Corp		22
3,775	*	Navistar International Corp		93
661		Noble International Ltd		9
22,156		Northrop Grumman Corp		1,419
3,572	*	Orbital Sciences Corp		58
4,741		Oshkosh Truck Corp		225
10,744		Paccar, Inc		885
9,182	*	Pactiv Corp		227
2,702		Polaris Industries, Inc		117
28,773		Raytheon Co		1,282
420	*	Sequa Corp (Class A)		34
1,631		Superior Industries International, Inc		30
2,719	*	Tenneco, Inc		71
8,223		Textron, Inc		758
2,382		Thor Industries, Inc		115
723	*	TransDigm Group, Inc		17
5,080		Trinity Industries, Inc		205
1,126	*	Triumph Group, Inc		54
2,648	*	TRW Automotive Holdings Corp		72
65,167		United Technologies Corp		4,133
9,045	*	Visteon Corp		65
2,193		Wabash National Corp		34
3,132		Westinghouse Air Brake Technologies Corp		117
2,242		Winnebago Industries, Inc		70
		TOTAL TRANSPORTATION EQUIPMENT		23,987
TRANSPORTATION SERVICES - 0.22%
1,330		Ambassadors Group, Inc		39
446		Ambassadors International, Inc		10
11,120		CH Robinson Worldwide, Inc		593
783	*	Dynamex, Inc		17
13,954		Expeditors International Washington, Inc		782
2,972		GATX Corp		126
2,568	*	HUB Group, Inc		63
4,499		Lear Corp		100
999	*	Navigant International, Inc		16
2,493		Pacer International, Inc		81
2,021	*	RailAmerica, Inc		21
8,602		Sabre Holdings Corp		189
		TOTAL TRANSPORTATION SERVICES		2,037
TRUCKING AND WAREHOUSING - 0.52%
1,500		Arkansas Best Corp		75
1,483	*	Celadon Group, Inc		33
3,334		Con-way, Inc		193
2,242		Forward Air Corp		91
4,289		Heartland Express, Inc		77
7,377		J.B. Hunt Transport Services, Inc		184
3,956		Landstar System, Inc		187
952	*	Marten Transport Ltd		21
1,717	*	Old Dominion Freight Line		64
421	*	P.A.M. Transportation Services, Inc		12
103	*	Patriot Transportation Holding, Inc		9
566	*	Quality Distribution, Inc		7
900	*	SCS Transportation, Inc		25
3,232	*	SIRVA, Inc		21
3,431	*	Swift Transportation Co, Inc		109
400	*	U.S. Xpress Enterprises, Inc (Class A)		11
41,244		United Parcel Service, Inc (Class B)		3,396

47

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
200	*	Universal Truckload Services, Inc	$	7
341	*	USA Truck, Inc		6
3,416		Werner Enterprises, Inc		69
3,617	*	YRC Worldwide, Inc		152
		TOTAL TRUCKING AND WAREHOUSING		4,749
WATER TRANSPORTATION - 0.07%
2,950		Alexander & Baldwin, Inc		131
1,989	*	American Commercial Lines, Inc		120
1,244	*	Gulfmark Offshore, Inc		32
897		Horizon Lines, Inc		14
1,586	*	Hornbeck Offshore Services, Inc		56
3,407	*	Kirby Corp		135
583		Maritrans, Inc		15
1,898		Overseas Shipholding Group, Inc		112
		TOTAL WATER TRANSPORTATION		615
WHOLESALE TRADE-DURABLE GOODS - 2.83%
5,979		Adesa, Inc		133
2,158		Agilysys, Inc		39
3,106		Applied Industrial Technologies, Inc		75
7,511	*	Arrow Electronics, Inc		242
2,427		Barnes Group, Inc		48
2,807	*	Beacon Roofing Supply, Inc		62
691		BlueLinx Holdings, Inc		9
3,772		BorgWarner, Inc		246
1,739		Building Material Holding Corp		48
702		Castle (A.M.) & Co		23
1,444	*	Conceptus, Inc		20
7,674	*	Cytyc Corp		195
1,490	*	Digi International, Inc		19
1,195	*	Drew Industries, Inc		39
670,389		General Electric Co		22,096
2,198	*	Genesis Microchip, Inc		25
7,307		IKON Office Solutions, Inc		92
8,393	*	Ingram Micro, Inc (Class A)		152
3,362	*	Insight Enterprises, Inc		64
1,758	*	Interline Brands, Inc		41
1,077	*	Keystone Automotive Industries, Inc		45
3,799		Knight Transportation, Inc		77
300		Lawson Products, Inc		12
2,896	*	LKQ Corp		55
1,163	*	Merge Technologies, Inc		14
300	*	MWI Veterinary Supply, Inc		11
7,718		Omnicare, Inc		366
2,729		Owens & Minor, Inc		78
9,216	*	Patterson Cos, Inc		322
4,013		PEP Boys-Manny Moe & Jack		47
3,706		Pool Corp		162
4,604	*	PSS World Medical, Inc		81
2,069		Reliance Steel & Aluminum Co		172
1,661		Ryerson Tull, Inc		45
3,673	*	Tech Data Corp		141
3,517	*	Tyler Technologies, Inc		39
4,991		W.W. Grainger, Inc		375
3,102	*	WESCO International, Inc		214
744	*	West Marine, Inc		10
		TOTAL WHOLESALE TRADE-DURABLE GOODS		25,934
WHOLESALE TRADE-NONDURABLE GOODS - 0.78%
4,181		Airgas, Inc		156
2,860	*	Akorn, Inc		11
5,454		Alliance One International, Inc		24
2,982	*	Allscripts Healthcare Solutions, Inc		52
3,973		Brown-Forman Corp (Class B)		284
26,928		Cardinal Health, Inc		1,732

48

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES			VALUE (000)
1,813	*	Central European Distribution Corp	$	46
638	*	Core-Mark Holding Co, Inc		23
8,770	*	Dean Foods Co		326
8,570	*	Endo Pharmaceuticals Holdings, Inc		283
284	*	Green Mountain Coffee Roasters, Inc		12
1,991	*	Hain Celestial Group, Inc		51
5,863	*	Henry Schein, Inc		274
500		Kenneth Cole Productions, Inc (Class A)		11
1,430		K-Swiss, Inc (Class A)		38
231	*	Maui Land & Pineapple Co, Inc		9
3,103		Men’s Wearhouse, Inc		94
1,570		Myers Industries, Inc		27
785		Nash Finch Co		17
12,312		Nike, Inc (Class B)		997
3,652		Nu Skin Enterprises, Inc (Class A)		54
1,009	*	Nuco2, Inc		24
2,653	*	Performance Food Group Co		81
652	*	Perry Ellis International, Inc		17
28,897		Safeway, Inc		751
1,539	*	School Specialty, Inc		49
900	*	Smart & Final, Inc		15
2,212	*	Source Interlink Cos, Inc		26
1,382		Spartan Stores, Inc		20
2,696		Stride Rite Corp		36
39,882		Sysco Corp		1,219
6,305	*	Terra Industries, Inc		40
896		The Andersons, Inc		37
2,309	*	Tractor Supply Co		128
2,582	*	United Natural Foods, Inc		85
1,930	*	United Stationers, Inc		95
423		Valhi, Inc		11
849	*	Volcom, Inc		27
		TOTAL WHOLESALE TRADE-NONDURABLE GOODS		7,182
		TOTAL COMMON STOCKS (Cost $678,504)		916,477
WARRANTS - 0.00% **
COMMUNICATIONS - 0.00% **
3	v*	RCN Corp Wts		—	^
		TOTAL COMMUNICATIONS		—	^
		TOTAL WARRANTS (Cost $0)		—	^
		TOTAL PORTFOLIO - 99.95% (Cost $678,524)		916,477
		OTHER ASSETS & LIABILITIES, NET - 0.05%		497
		NET ASSETS - 100.00%	$	916,974

* Non-income producing

** Percentage represents less than 0.01%

^ Amount represents less than $1,000

b In bankruptcy

v Security valued at fair value.

Cost amounts are in thousands.

For ease of presentation, we have grouped a number of industry classification categories together in the Statement of Investments. Note that the Accounts use more specific industry categories in following their investment limitations on industry concentration.

49

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not Applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not Applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Company and Affiliated Purchasers.

Not Applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

None.

Item 11. Controls and Procedures.

(a) Evaluation of disclosure controls and procedures. An evaluation was performed within 90 days from the date hereof under the supervision of the registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the registrant’s disclosure controls and procedures. Based on that evaluation, the registrant’s management, including the principal executive officer and principal financial officer, concluded that the registrant’s disclosure controls and procedures were effective for this semi-annual reporting period.

(b) Changes in internal controls. There were no changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s first fiscal half-year that materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Exhibits.

12(a)(2)(i) Section 302 certification of the principal executive officer (EX-99.CERT)

12(a)(2)(ii) Section 302 certification of the principal financial officer (EX-99.CERT)

12(b) Section 906 certification (EX-99.906CERT)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	TIAA SEPARATE ACCOUNT VA-1
Date:    August 28, 2006	By:	/S/    HERBERT M. ALLISON, JR.
		Herbert M. Allison, Jr. President and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Date:    August 28, 2006	By:	/S/    HERBERT M. ALLISON, JR.
		Herbert M. Allison, Jr. President and Chief Executive Officer (principal executive officer)

Date:    August 23, 2006	By:	/S/    GEORGANNE C. PROCTOR
		Georganne C. Proctor Executive Vice President and Chief Financial Officer (principal financial officer)

EXHIBIT LIST

12(a)(2)(i) Section 302 certification of the principal executive officer (EX-99.CERT)

12(a)(2)(ii) Section 302 certification of the principal financial officer (EX-99.CERT)

12(b) Section 906 certification (EX-99.906CERT)

EX-99.CERT

EX-99.CERT

CERTIFICATION

I, Herbert M. Allison, Jr., certify that:

1. I have reviewed this report on Form N-CSR of TIAA Separate Account VA-1;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:    August 28, 2006	By:	/S/    HERBERT M. ALLISON, JR.
		Herbert M. Allison, Jr. President and Chief Executive Officer (principal executive officer)

EX-99.CERT

EX-99.CERT

CERTIFICATION

I, Georganne C. Proctor, certify that:

1. I have reviewed this report on Form N-CSR of TIAA Separate Account VA-1;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:    August 23, 2006	By:	/S/    GEORGANNE C. PROCTOR
		Georganne C. Proctor Executive Vice President and Chief Financial Officer (principal financial officer)

EX-99.906CERT

EX-99.906CERT

CERTIFICATION

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), each of the undersigned officers of TIAA Separate Account VA-1 does hereby certify, to such officer’s knowledge, that:

The semi-annual report on Form N-CSR of the TIAA Separate Account VA-1 (the “Separate Account”) for the six months ended June 30, 2006 (the “Form N-CSR”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Separate Account.

Dated:    August 28, 2006	By:	/S/    HERBERT M. ALLISON, JR.
		Herbert M. Allison, Jr. President and Chief Executive Officer (principal executive officer)

Dated:    August 23, 2006	By:	/S/    GEORGANNE C. PROCTOR
		Georganne C. Proctor Executive Vice President and Chief Financial Officer (principal financial officer)