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 10017-3206

(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: June 30, 2013

Item 1. Reports to Stockholders.

Understanding this report

This semiannual report contains information about the TIAA Separate Account VA-1 and describes the account’s results for the six months ended June 30, 2013. The report contains three main sections:

  • The account performance section compares the account’s investment returns with those of its benchmark index.

  • The summary portfolio of investments lists the industries and types of securities in which the account had investments

     as of June 30, 2013.

  • The financial statements provide detailed information about the operations and financial condition of the account.

The views and opinions expressed in this report are through the end of the period, as stated on the cover of this report. They are subject to change at any time based on a variety of factors. As such, they are not guarantees of future performance or investment results and should not be taken as investment advice. To see the risks of investing in the TIAA Separate Account VA-1, please refer to the latest prospectus.

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

	Contents
	Information for contractowners	1
	Important information about expenses	2
	About the account’s benchmark	3
	Account performance
	Stock Index Account	4
	Summary portfolio of investments	6
	Financial statements (unaudited)
	Statement of assets and liabilities	10
	Statement of operations	11
	Statements of changes in net assets	12
	Financial highlights	13
	Notes to financial statements	14
	Management committee renewal of the   investment management agreement	20
	How to reach us	Inside back cover

Information for contractowners

Portfolio holdings

The TIAA Separate Account VA-1’s summary portfolio of investments begins on page 6 of this report.

You can obtain a complete list of the portfolio holdings of the TIAA Separate Account VA-1 (Schedule of Investments) as of the most recently completed fiscal quarter in the following ways:

  • By visiting our website at tiaa-cref.org; or

  • By calling us at 800 842-2252 to request a copy free of charge.

You can also obtain a complete list of the portfolio holdings of the account as of the most recently completed fiscal quarter, and for prior quarter-ends, from our Securities and Exchange Commission (SEC) Form N-CSR and Form N-Q filings. Form N-CSR filings are as of December 31 or June 30; Form N-Q filings are 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

  • From the SEC’s Office of Investor Education and Advocacy.

    (Call 202 551-8090 for more information.)

Proxy voting

The TIAA Separate Account VA-1’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 on our website at tiaa-cref.org or on the SEC’s 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 on our website or on Form N-PX at www.sec.gov.

Contacting TIAA-CREF

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

Account management

The TIAA Separate Account VA-1 is managed by a portfolio management team of Teachers Advisors, Inc. The members of this team are responsible for the day-to-day investment management of the account.

TIAA Separate Account VA-1  ¡  2013 Semiannual Report      1

Important information about expenses

All contractowners in the TIAA Separate Account VA-1 incur ongoing costs, including management fees and other account expenses.

The TIAA Separate Account VA-1 is the underlying investment vehicle for Teachers Personal Annuity contracts issued by Teachers Insurance and Annuity Association of America. Premium taxes may apply to certain contracts. Because of this additional charge, the cost to investors may be higher than the figures shown in the expense example. Information about this additional charge can be found in the prospectus.

The expense example that appears in the table on page 3 is intended to help you understand your ongoing costs (in U.S. dollars) and does not reflect transactional costs incurred by the account for buying and selling securities. The example is designed to help you compare these ongoing costs with the ongoing costs of investing in other variable annuity accounts and mutual funds. Contractowners in the TIAA Separate Account VA-1 do not incur a sales charge for purchases or other distributions.

The example is based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (January 1, 2013–June 30, 2013).

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, to estimate the expenses that you paid over the six-month period.

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

Hypothetical example for comparison purposes

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

This hypothetical example cannot be used to estimate the actual expenses you paid for the period but rather allows you to compare the ongoing costs of investing in the account with the costs of other accounts. To do so, compare our 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other variable annuity accounts and mutual funds.

2      2013 Semiannual Report  ¡  TIAA Separate Account VA-1

Important information about expenses

Expense example

Six months ended June 30, 2013

Stock Index Account	Beginning account value (1/1/13)		Ending account value (6/30/13)		Expenses paid  during period* (1/1/13–6/30/13)
Actual return		$1,000.00		$1,136.35		$3.97
5% annual hypothetical return		1,000.00		1,021.08		3.76

* “Expenses paid during period” is based on the account’s actual expense ratio for the most recent fiscal half-year, multiplied by the average account value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2013. The account’s annualized six-month expense ratio for that period was 0.75%. The total annual expense ratio reflects a voluntary agreement by the account’s investment adviser to waive a portion of its fee. Without such waiver, the account’s total annual expense ratio would have been 0.90%. Although TIAA reserves the right to increase the account’s mortality and expense risk charge to a maximum of 1.00% of average daily net assets per year, the total annual expense ratio will never exceed 1.50%.

About the account’s benchmark

The account’s benchmark is the Russell 3000^® Index, which 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 any index. Index returns do not include a deduction for fees or expenses.

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

TIAA Separate Account VA-1  ¡  2013 Semiannual Report      3

Stock Index Account

Performance for the six months ended June 30, 2013

The Stock Index Account returned 13.64% for the period, compared with the 14.06% return of its benchmark, the Russell 3000^® Index. For the one-year period ended June 30, 2013, the account returned 20.59%, versus 21.46% for the index.

For the six-month period, the account’s return trailed that of its benchmark index primarily because of the effect of expenses. The account’s return includes a deduction for expenses, while the benchmark’s does not. The account had a risk profile similar to that of its benchmark.

During the first half of 2013, the broad U.S. stock market climbed 14.06%, as measured by the Russell 3000 Index. Most of the gains came in the first quarter, when the market rose 11.07%, partly on expectations that the Federal Reserve would maintain its stimulative policies. Stocks began to weaken in May, however, after Fed Chairman Ben Bernanke announced that the agency might reduce that stimulus later in the year if the U.S. economy continued to improve. The Russell 3000 ended the second quarter up a modest 2.69%.

For the first half of the year, small-cap stocks performed best, returning 15.86%, while mid- and large-cap issues gained 15.45% and 13.91%, respectively. Value stocks within the Russell 3000 outperformed their growth counterparts, 15.78% to 12.23%. (Returns by investment style and market capitalization are based on the Russell indexes.)

Financials propel the benchmark higher

For the period, all ten industry sectors of the Russell 3000 Index posted positive returns, with seven generating double-digit gains. The biggest contribution to performance came from the benchmark’s largest sector—financials—which earned 17.8%. Additional lift was provided by the sizable consumer discretionary and health care sectors, both of which advanced 20.4%. Industrials also posted a strong gain, rising 14.7%. Together, these four sectors constituted more than one-half of the benchmark’s market capitalization on June 30, 2013.

Amid the powerful market rally, materials rose just 2.4%, the weakest sector performance for the period. Concerns about slowing economic growth in China—a leading consumer of copper, coal and other raw materials—weighed on stocks in this sector.

Two of the five largest stocks in the Russell 3000 generated exceptional returns for the six-month period. Microsoft and Johnson & Johnson advanced 31.3% and 24.4%, respectively. General Electric (up 12.3%) and Exxon Mobil (up 5.8%) posted solid gains but trailed the broad market, while Apple lagged far behind with a –24.6% return.

4      2013 Semiannual Report  ¡  TIAA Separate Account VA-1

Stock Index Account

Performance as of June 30, 2013

			Total return						Average annual total return
	Inception date		6 months			1 year			5 years			10 years
Stock Index Account		11/1/1994		13.64	%		20.59	%		6.57	%		7.11	%
Russell 3000 Index		—		14.06			21.46			7.25			7.81

The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. The account’s performance reflects a fee waiver, which is currently in place. Without such waiver, the expenses of the account would have been higher and its performance lower. Current performance may be higher or lower than that shown, 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 tiaa-cref.org.

You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.

Portfolio composition

Sector	% of net assets as of 6/30/2013
Financials		18.2
Information technology		17.3
Consumer discretionary		13.0
Health care		12.3
Industrials		11.0
Energy		9.4
Consumer staples		9.0
Materials		3.6
Utilities		3.3
Telecommunication services		2.4
Short-term investments, other assets & liabilities, net		0.5
Total		100.0
Holdings by company size
Market capitalization	% of equity investments as of 6/30/2013
More than $50 billion		43.4
More than $15 billion–$50 billion		25.6
More than $2 billion–$15 billion		24.7
$2 billion or less		6.3
Total		100.0

TIAA Separate Account VA-1  ¡  2013 Semiannual Report      5

Summary portfolio of investments (unaudited)

Stock Index Account  §  June 30, 2013

Shares			Company	Value (000)		% of net assets
	COMMON STOCKS
	AUTOMOBILES & COMPONENTS			$	9,130		1.1	%
	BANKS
	221,085		Wells Fargo & Co		9,124		1.1
			Other		19,797		2.4
					28,921		3.5
	CAPITAL GOODS
	31,605		3M Co		3,456		0.4
	34,660		Boeing Co		3,551		0.5
	473,472		General Electric Co		10,980		1.3
	42,074		United Technologies Corp		3,910		0.5
			Other		44,763		5.4
					66,660		8.1
	COMMERCIAL & PROFESSIONAL SERVICES				8,471		1.0
	CONSUMER DURABLES & APPAREL				13,022		1.6
	CONSUMER SERVICES
	45,905		McDonald’s Corp		4,545		0.6
			Other		13,552		1.6
					18,097		2.2
	DIVERSIFIED FINANCIALS
	43,382		American Express Co		3,243		0.4
	493,628		Bank of America Corp		6,348		0.8
	138,450		Citigroup, Inc		6,642		0.8
	20,993		Goldman Sachs Group, Inc		3,175		0.4
	48,994	e	iShares Russell 3000 Index Fund		4,723		0.6
	173,080		JPMorgan Chase & Co		9,137		1.1
			Other		22,868		2.7
					56,136		6.8
	ENERGY
	88,807		Chevron Corp		10,509		1.3
	55,989		ConocoPhillips		3,387		0.4
	203,727	d	Exxon Mobil Corp		18,407		2.2
	36,894		Occidental Petroleum Corp		3,292		0.4
	61,021		Schlumberger Ltd		4,373		0.5
			Other		37,669		4.6
					77,637		9.4
	FOOD & STAPLES RETAILING
	56,065		CVS Corp		3,206		0.4
	73,738		Wal-Mart Stores, Inc		5,493		0.7
			Other		7,870		0.9
					16,569		2.0

6 2013 Semiannual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Summary portfolio of investments (unaudited) continued

Stock Index Account  §  June 30, 2013

Shares			Company	Value (000)		% of net assets
	FOOD, BEVERAGE & TOBACCO
	91,967		Altria Group, Inc	$	3,218		0.4	%
	175,144		Coca-Cola Co		7,025		0.9
	70,807		PepsiCo, Inc		5,791		0.7
	74,892		Philip Morris International, Inc		6,487		0.8
			Other		18,540		2.2
					41,061		5.0
	HEALTH CARE EQUIPMENT & SERVICES				37,254		4.5
	HOUSEHOLD & PERSONAL PRODUCTS
	125,652		Procter & Gamble Co		9,674		1.2
			Other		7,183		0.8
					16,857		2.0
	INSURANCE
	82,406	*	Berkshire Hathaway, Inc (Class B)		9,223		1.1
			Other		26,127		3.2
					35,350		4.3
	MATERIALS				30,077		3.6
	MEDIA
	120,203		Comcast Corp (Class A)		5,034		0.6
	82,464		Walt Disney Co		5,207		0.6
			Other		20,591		2.5
					30,832		3.7
	PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES
	34,416		Amgen, Inc		3,395		0.4
	75,218		Bristol-Myers Squibb Co		3,362		0.4
	69,946	*	Gilead Sciences, Inc		3,582		0.4
	128,179		Johnson & Johnson		11,005		1.3
	138,276		Merck & Co, Inc		6,423		0.8
	311,427		Pfizer, Inc		8,723		1.1
			Other		27,941		3.4
					64,431		7.8
	REAL ESTATE				30,290		3.7
	RETAILING
	16,836	*	Amazon.com, Inc		4,675		0.6
	67,034		Home Depot, Inc		5,193		0.6
			Other		26,824		3.2
					36,692		4.4
	SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT
	227,613		Intel Corp		5,513		0.7
			Other		12,402		1.5
					17,915		2.2

See notes to financial statements TIAA Separate Account VA-1   §   2013 Semiannual Report 7

Summary portfolio of investments (unaudited) continued

Stock Index Account  §  June 30, 2013

Shares			Company		Value (000)			% of net assets
	SOFTWARE & SERVICES
	59,422	*	eBay, Inc		$	3,073			0.4	%
	12,348	*	Google, Inc (Class A)			10,871			1.3
	47,669		International Business Machines Corp			9,110			1.1
	5,351		Mastercard, Inc (Class A)			3,074			0.4
	381,020		Microsoft Corp			13,157			1.6
	162,785		Oracle Corp			5,001			0.6
	24,073		Visa, Inc (Class A)			4,399			0.5
			Other			31,039			3.7
						79,724			9.6
	TECHNOLOGY HARDWARE & EQUIPMENT
	42,981		Apple, Inc			17,024			2.0
	244,713		Cisco Systems, Inc			5,949			0.7
	79,123		Qualcomm, Inc			4,833			0.6
			Other			17,299			2.1
						45,105			5.4
	TELECOMMUNICATION SERVICES
	246,361		AT&T, Inc			8,721			1.0
	131,014		Verizon Communications, Inc			6,595			0.8
			Other			4,857			0.6
						20,173			2.4
	TRANSPORTATION
	21,465		Union Pacific Corp			3,311			0.4
			Other			12,662			1.5
						15,973			1.9
	UTILITIES					27,386			3.3
			TOTAL COMMON STOCKS	(Cost $495,774)		823,763			99.5
	RIGHTS/WARRANTS
	AUTOMOBILES & COMPONENTS					0	^		0.0
	ENERGY					0	^		0.0
			TOTAL RIGHTS/WARRANTS	(Cost $0)		0	^		0.0

8 2013 Semiannual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Summary portfolio of investments (unaudited) concluded

Stock Index Account  §  June 30, 2013

Shares			Company		Value (000)			% of net assets
	SHORT-TERM INVESTMENTS
	INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED
	INVESTMENTS IN REGISTERED INVESTMENT COMPANIES
	20,391,405	c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust		$	20,391			2.5	%
						20,391			2.5
	TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED					20,391			2.5
			TOTAL SHORT-TERM INVESTMENTS	(Cost $20,391)		20,391			2.5
			TOTAL PORTFOLIO	(Cost $516,165)		844,154			102.0
			OTHER ASSETS & LIABILITIES, NET			(16,794	)		(2.0	)
			NET ASSETS		$	827,360			100.0	%

* Non-income producing.

^ Amount represents less than $1,000.

c Investments made with cash collateral received from securities on loan.

d All or a portion of these securities have been segregated by the custodian to cover margin or other requirements on open futures transactions.

e All or a portion of these securities are out on loan. The aggregate value of securities on loan, including those in “Other,” is $19,845,000.

“Other” securities represent the aggregate value, by category, of securities that are not among the 50 largest holdings and, in total for any issuer, represent 1% or less of net assets.

Cost amounts are in thousands.

For ease of presentation, a number of classification categories have been grouped together in the Summary Portfolio of Investments. Note that the Account uses more specific categories in following its investment limitations on investment concentrations.

See notes to financial statements TIAA Separate Account VA-1   §   2013 Semiannual Report 9

Statement of assets and liabilities (unaudited)

TIAA Separate Account VA-1  §  June 30, 2013

(amounts in thousands, except accumulation unit value)	Stock Index Account
ASSETS
Portfolio investments, at value*,†	$	844,154
Cash		2,969
Dividends and interest receivable		1,032
Receivable from securities transactions		18,980
Other		93
Total assets		867,228
LIABILITIES
Payable for collateral for securites loaned		20,391
Payable for securities transactions		19,201
Due to affiliates		221
Payable for variation margin on open futures contracts		8
Other		47
Total liabilities		39,868
NET ASSETS
Accumulation Fund	$	827,360
Accumulation units outstanding		7,095
Accumulation unit value		$116.61
*    Portfolio investments at cost	$	516,165
†     Includes securities loaned of	$	19,845

10 2013 Semiannual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Statement of operations (unaudited)

TIAA Separate Account VA-1  §  For the period ended June 30, 2013

(amounts in thousands)	Stock Index Account
INVESTMENT INCOME
Dividends*	$	8,024
Income from securities lending		162
Total income		8,186
EXPENSES
Administrative		806
Investment advisory		1,209
Mortality and expense risk charges		1,612
Total expenses		3,627
Less: Expense waiver by investment adviser		(604	)
Net expenses		3,023
Net investment income (loss)		5,163
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS
Realized gain (loss):
Portfolio investments		15,501
Futures transactions		72
Net realized gain (loss) on total investments		15,573
Change in unrealized appreciation (depreciation) on:
Portfolio investments		80,782
Futures transactions		1
Net change in unrealized appreciation (depreciation) on total investments		80,783
Net realized and unrealized gain (loss) on total investments		96,356
Net increase (decrease) in net assets from operations	$	101,519
*    Net of foreign witholding taxes of	$	5

See notes to financial statements TIAA Separate Account VA-1   §   2013 Semiannual Report 11

Statements of changes in net assets

TIAA Separate Account VA-1  §  For the period or year ended

	Stock Index Account
(amounts in thousands)	June 30, 2013			December 31, 2012
	(unaudited)
OPERATIONS
Net investment income (loss)	$	5,163		$	11,536
Net realized gain (loss) on total investments		15,573			17,346
Net change in unrealized appreciation (depreciation) on total investments		80,783			77,647
Net increase (decrease) in net assets from operations		101,519			106,529
FROM CONTRACTOWNER TRANSACTIONS
Premiums		18,515			23,611
Withdrawals and death benefits		(45,113	)		(76,783	)
Net increase (decrease) from contractowner transactions		(26,598	)		(53,172	)
Net increase (decrease) in net assets		74,921			53,357
NET ASSETS
Beginning of period		752,439			699,082
End of period	$	827,360		$	752,439
ACCUMULATION UNITS
Units purchased		163			240
Units sold		(400	)		(783	)
Outstanding
Beginning of period		7,332			7,875
End of period		7,095			7,332

12 2013 Semiannual Report   §   TIAA Separate Account VA-1 See notes to financial statements

Financial highlights

TIAA Separate Account VA-1  §  For the period or year ended

	Stock Index Account
	6/30/13			12/31/12			12/31/11			12/31/10			12/31/09			12/31/08
	(unaudited)
FOR AN ACCUMULATION UNIT OUTSTANDING THROUGHOUT EACH PERIOD
Investment income (a)	$	1.137		$	2.256		$	1.754		$	1.542		$	1.413		$	1.758
Expenses (a)		0.420			0.735			0.671			0.591			0.452			0.484
Net investment income (loss) (a)		0.717			1.521			1.083			0.951			0.961			1.274
Net realized and unrealized gain (loss) on total investments		13.269			12.334			(0.755	)		11.319			15.456			(37.166	)
Net change in accumulation unit value		13.986			13.855			0.328			12.270			16.417			(35.892	)
Accumulation unit value:
Beginning of period		102.624			88.769			88.441			76.171			59.754			95.646
End of period	$	116.610		$	102.624		$	88.769		$	88.441		$	76.171		$	59.754
TOTAL RETURN (b)		13.64	%(c)		15.60	%		0.37	%		16.11	%		27.48	%		(37.53	)%
RATIOS TO AVERAGE NET ASSETS:
Ratio of expense to average net assets before expense waiver		0.90	%(d)		0.90	%		0.90	%		0.90	%		0.90	%		0.90	%
Ratio of expense to average net assets after expense waiver		0.75	%(d)		0.75	%		0.75	%		0.75	%		0.71	%		0.67	%
Ratio of net investment income to average net assets		1.29	%(d)		1.55	%		1.21	%		1.21	%		1.50	%		1.58	%
SUPPLEMENTAL DATA
Portfolio turnover rate		5	%(c)		7	%		6	%		10	%		6	%		7	%
Accumulation units outstanding at the end of period (e)		7			7			8			8			9			9
Net assets at the end of period (e)	$	827		$	752		$	699		$	745		$	680		$	567

(a) Based on average units outstanding.

(b) Based on per accumulation data.

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

(d) The percentages shown for this period are annualized.

(e) In millions.

See notes to financial statements TIAA Separate Account VA-1   §   2013 Semiannual Report 13

Notes to financial statements (unaudited)

TIAA Separate Account VA-1

Note 1—organization and 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 is organized under the insurance laws of the State of New York for the purpose of issuing and funding individual variable annuity contracts. The variable annuity contracts were issued by TIAA. VA-1 is registered with the Securities and Exchange Commission as an open-end management investment company under the Investment Company Act of 1940, as amended (“1940 Act”). VA-1 consists of a single investment portfolio, the Stock Index Account (“Account”).

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ from those estimates. The Accumulation Unit Value (“AUV”) for financial reporting purposes may differ from the AUV for processing transactions. The AUV for financial reporting purposes includes security and contractowner transactions through the date of the report. Total return is computed based on the AUV used for processing transactions. The following is a summary of the significant accounting policies consistently followed by the Account.

Security valuation: The Account’s investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the financial statements.

Investments and investment income: Securities transactions are accounted for as of the trade date for financial reporting purposes. Interest income is recorded as earned and includes accretion of discounts and amortization of premiums using the effective yield method. Dividend income is recorded on the ex-dividend date. Realized gains and losses on securities transactions are based upon the specific identification method. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Account estimates the components of distributions received that may be considered return of capital distributions or capital gain distributions.

Income taxes: VA-1 is a separate account of TIAA, which is taxed as a life insurance company under Subchapter L of the Internal Revenue Code. VA-1 should incur no federal income tax liability. Under the rules of taxation applicable to life insurance companies, VA-1’s Accumulation Account for contractowners will generally be treated as life insurance reserves; therefore, any increase in such reserves will be deductible. Management has analyzed the Account’s tax positions taken for all open federal income tax years (2007–2012) and has concluded that no provision for federal income tax is required in the Account’s financial statements.

Management Committee compensation: The members of the Management Committee (“Committee”), all of whom are independent, receive certain remuneration for their services, plus travel and other expenses. Committee members may elect to participate in a deferred compensation plan and defer all or a portion

14 2013 Semiannual Report   §   TIAA Separate Account VA-1

of their compensation. In addition, managers participate in a long-term compensation plan. Amounts deferred are retained by the Account until paid. The investment of deferred amounts and the offsetting payable to the committee members are included in other assets and other liabilities in the accompanying Statement of Assets and Liabilities.

New accounting pronouncement: In December 2011, the Financial Accounting Standards Board issued Accounting Standard Update (“ASU”) No. 2011-11, Disclosures about Offsetting Assets and Liabilities, and in January 2013 issued ASU 2013-01, Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (collectively, the “Update”). The Update creates new disclosure requirements requiring entities to disclose both gross and net information for derivatives and other financial instruments that are either offset in the Statement of Assets and Liabilities or subject to an enforceable master netting arrangement or similar agreement. The disclosure requirements are effective for interim and annual reporting periods beginning on or after January 1, 2013. The Account has adopted these new disclosure requirements for this June 30, 2013 semiannual report. Management has evaluated the new disclosure requirements and has determined no additional disclosure is required.

Note 2—valuation of investments

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

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

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

• Level 3—significant unobservable inputs (including the Account’s own assumptions in determining the fair value of investments)

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

A description of the valuation techniques applied to the Account’s major categories of assets and liabilities measured at fair value follows:

Exchange-traded equity securities, common and preferred stock: 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

TIAA Separate Account VA-1   §   2013 Semiannual Report 15

Notes to financial statements (unaudited)

valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign investments are valued at the last sale price or official closing price reported on the exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. For events affecting the value of foreign securities 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 will be valued at fair value in accordance with procedures adopted by the Committee. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.

Debt securities: Debt securities will generally be valued using prices provided by a pricing service that 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). Debt securities are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, yields, or any other key inputs are unobservable, they are categorized in Level 3 of the hierarchy.

Short-term investments: Short-term investments, excluding investments in registered investment companies, with maturities of 60 days or less are valued at amortized cost. Short-term investments with maturities in excess of 60 days are valued in the same manner as debt securities. Short-term investments are generally categorized in Level 2 of the fair value hierarchy.

Investments in registered investment companies: These investments are valued at their net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.

Futures contracts: Stock and bond index futures and options, which are traded on commodities exchanges, are valued at the last sale price as of the close of such commodities exchanges and are categorized in Level 1 of the fair value hierarchy.

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

Transfers between levels are recognized at the end of the reporting period. For the period ended June 30, 2013, there were no material transfers between levels by the Account.

As of June 30, 2013, with the exception of one immaterial common stock security, all of the other investments in the Account were valued based on Level 1 inputs.

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continued

Note 3—derivative instruments

As defined by U.S. GAAP, a derivative is a financial instrument whose value is derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variable. Derivatives require little or no initial investment and permit or require net settlement. The Account values derivatives at fair value.

At June 30, 2013, the Account has invested in derivative contracts which are reflected in the Statement of Assets and Liabilities as follows (amounts are in thousands):

	Liabilities derivatives
Derivative contracts	Location		Fair value amount
Equity contracts		Futures*	$	2

* The fair value presented includes cumulative gain (loss) on open futures contracts; however, the value reflected on the accompanying Statement of Assets and Liabilities is only the payable for variation margin on open futures contracts.

For the period ended June 30, 2013, the effect of derivative contracts on the Account’s Statement of Operations was as follows (amounts are in thousands):

Derivative contracts	Location		Realized gain (loss)		Change in unrealized appreciation (depreciation)
Equity contracts		Futures transactions	$	72	$	1

Futures contracts: The Account is subject to equity price risk in the normal course of pursuing its investment objectives. The Account uses futures contracts to manage exposure to the equity markets and for cash management purposes to remain highly invested in these 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 receipts or payments are settled daily reflecting changes in the value of the futures contracts. 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. With futures, there is minimal counterparty credit risk to the Account since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange traded funds, guarantees the futures against default. During the period ended June 30, 2013, the Account had exposure to equity futures contracts, based on underlying notional values, generally between 0% and 1% of net assets.

TIAA Separate Account VA-1   §   2013 Semiannual Report 17

Notes to financial statements (unaudited)

At June 30, 2013, the Account held the following open futures contracts (amounts are in thousands):

Future	Number of contracts‡		Settlement value		Expiration date		Unrealized gain (loss)
CME E-mini S&P 500 Index		21	$	1,679		September 2013	$	(2	)

^‡  Number of contracts is not in thousands.

Note 4—investment adviser and affiliates

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 by TIAA-CREF Individual & Institutional Services, LLC (“Services”). Services is a wholly owned subsidiary of TIAA. The Investment Management Agreement sets the investment advisory charge at an annual rate of 0.30% of the average daily 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 0.15% of the average daily net assets of the Account.

The Administrative Services Agreement sets the administrative expense charge at an annual rate of 0.20% of the average daily 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 average daily net assets of the Account. 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 expense ratio will never exceed 1.50% per year. TIAA pays death benefits to beneficiaries when an annuitant dies during the accumulation period.

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

Note 5—investments

Securities lending: The Account may lend its securities to qualified institutional borrowers to earn additional income. The Account receives collateral (in the form of cash, Treasury securities, or other collateral permitted by applicable law) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of loaned securities during the period of the loan. Cash collateral received by the Account will generally be invested in high-quality short-term instruments, or in one or more funds maintained by the securities lending agent for the purpose of investing cash collateral. The value of the loaned securities and the liability to return the cash collateral received are reflected in the Statement of Assets and Liabilities. Securities lending income consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and compensation to the

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concluded

lending agent. Such income is reflected separately in the Statement of Operations. In lending its securities, the Account bears the market risk with respect to the collateral investment as well as the securities loaned and also bears the risk that the counterparty may default on its obligations to the Account.

Restricted securities: Restricted securities held by the Account, if any, may not be sold except in exempt transactions or in a public offering registered under the Securities Act of 1933. The risk of investing in such securities is generally greater than the risk of investing in securities that are widely held and publicly traded.

Net unrealized appreciation (depreciation): At June 30, 2013, net unrealized appreciation (depreciation) based on the aggregate cost of portfolio investments was $327,989,000 consisting of gross unrealized appreciation of $379,336,000 and gross unrealized depreciation of $(51,347,000).

Purchases and sales: Purchases and sales of portfolio securities (other than short-term investments) for the period ended June 30, 2013 were $40,695,000 and $61,167,000, respectively.

Note 6—line of credit

The Account participates in a $1.5 billion unsecured revolving credit facility that can be used for temporary purposes, including, without limitation, the funding of contractowner withdrawals. This facility expired June 2013. A new facility was entered into on June 25, 2013 expiring June 24, 2014. 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 the participating accounts and mutual funds on a pro rata basis. Interest associated with any borrowing under the facility is charged to the borrowings under the facility by other affiliated accounts or mutual funds. For the period ended June 30, 2013, there were no borrowings under this credit facility by the Account.

Note 7—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 yet occurred. Also, under the Account’s organizational documents, the managers and officers of the Account are indemnified against certain liabilities that may arise out of their duties to the Account. However, based on experience, the Account expects the risk of loss due to these warranties and indemnities to be unlikely.

TIAA Separate Account VA-1   §   2013 Semiannual Report 19

Management committee renewal of the
investment management agreement (unaudited)

Among its other duties, the Management Committee (the “Committee”) of TIAA Separate Account VA-1 (the “Separate Account”) is responsible for determining whether to initially approve for a two-year term and subsequently annually renew the investment management agreement (the “Agreement”) between Teachers Advisors, Inc. (“TAI”) and the Separate Account. Under the Agreement, TAI is responsible for providing investment advisory services and overseeing the everyday operations and other service providers of the Separate Account.

Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”) requires that, after an initial period of up to two years, the Agreement will remain in effect only if the Committee, including a majority of those Committee members who have no direct or indirect interest in the Agreement, and who are not “interested persons” of the Separate Account, as that term is defined in the 1940 Act (“Members”), annually renews that Agreement. All of the Members are deemed to be independent persons for this purpose.

Overview of the renewal process

The Committee held a meeting on March 28, 2013, at which it considered the annual renewal of the Agreement with respect to the Separate Account. As part of this process, the Committee delegated certain tasks to its Operations Committee. Among these tasks, the Operations Committee worked with TAI and legal counsel to the Members to develop guidelines and specific requests relating to the types of information to be provided to the Committee and to all Members in connection with the proposed contract renewal, and then helped evaluate the information provided in response to those guidelines. During a series of meetings held prior to the March 28, 2013 Committee meeting, the Operations Committee reviewed such guidelines and requests in consultation with TAI representatives and input from other Members, legal counsel to the Members and legal counsel to TAI and the Separate Account, and then evaluated the information produced in accordance with those guidelines and requests.

Among other matters, the Operations Committee, following its consultations with others as noted above, confirmed or established various guidelines regarding the preparation of reports to be provided to the Members by the Global Fiduciary Review unit of Lipper, Inc. (“Lipper”), including meeting with representatives of Lipper in person. Lipper is an independent provider of investment company data that is widely recognized as a leading source of independent data used by independent directors and trustees of investment companies during their advisory contract review processes.

Based on guidelines provided by the Operations Committee on behalf of the Members, Lipper produced, among other information, performance and expense comparison data regarding the Separate Account, including data relating to the Separate Account’s management fee rate, total expense ratio, short-term and long-term investment performance and portfolio turnover rate. Lipper also compared much of this data for the Separate Account against a universe of investment companies and against a more selective peer group of mutual funds that underlie

20 2013 Semiannual Report   §   TIAA Separate Account VA-1

variable products with similar investment objectives and strategies, each of which was selected by Lipper, and, in the case of the investment performance data, against one or more appropriate broad-based benchmark indices. In each case, Lipper summarized the methodologies it employed to provide the data contained in its reports. In addition, Lipper represented to the Members that its reports were designed specifically to provide the Members with the fee, expense and performance information that is necessary to help the Members satisfy their duties under Section 15(c) of the 1940 Act. Lipper also represented that it (and not TAI) had identified the selected comparative peer groups and universes and that it did so in a manner that was not intended to produce biased results for its clients.

Among other matters, the Operations Committee also requested and reviewed various information provided by TAI to facilitate the Members’ evaluation of the reasonableness of any profits earned by TAI with respect to its services to the Separate Account pursuant to the Agreement.

In advance of the Committee meeting held on March 28, 2013, legal counsel for the Members requested on behalf of the Committee, and TAI provided, extensive information that was designed to assist the Members in their consideration of whether to renew the Agreement for the Separate Account. In addition to the data provided by Lipper as described above, this information included, but was not limited to, the following: (1) further information relating to the Separate Account’s investment performance, including performance ratings provided by Morningstar, Inc. (“Morningstar”), which is a widely recognized mutual fund ranking service, together with an explanation of any events that had a material impact on the Separate Account’s performance during that period; (2) a description of any fee waiver or expense reimbursement arrangements that were proposed or were in place during the prior year and the extent to which such arrangements would be continued or modified in the coming year; (3) a comparison of the Separate Account’s fee rate under the Agreement to the fee rates of any other comparable accounts managed by TAI or its affiliates; (4) any “fall-out” benefits that accrued or were identified as reasonably likely to accrue to TAI or its affiliates due to their relationship with the Separate Account aside from TAI’s direct fee payments pursuant to the Agreement; (5) information regarding TAI’s financial resources, senior professional personnel, overall staffing levels, portfolio manager compensation arrangements, business continuity plans, insurance coverage, compliance programs, any material pending litigation or compliance issues, portfolio trading and best execution practices, and any actual and potential conflicts of interest identified by TAI in connection with rendering services to the Separate Account; (6) information as to any profits earned by TAI in connection with its services pursuant to the Agreement; (7) a copy of the Agreement and certain related service agreements between the Separate Account and affiliates of TAI; (8) a copy of TAI’s Form ADV registration statement as filed with the Securities and Exchange Commission (which was presented only to legal counsel for the Members); and (9) proposed narrative explanations of reasons why the Committee should renew the Agreement.

TIAA Separate Account VA-1   §   2013 Semiannual Report 21

Management committee renewal of the
investment management agreement (unaudited)

In considering whether to renew the Agreement, the Members, with assistance from its Operations Committee, reviewed various factors with respect to the Separate Account, including: (1) the nature, extent and quality of services provided or to be provided by TAI to the Separate Account; (2) the Separate Account’s investment performance; (3) the costs of the services provided to the Separate Account and the profits realized or potential profits to be realized (if any) by TAI and its affiliates from their relationship with the Separate Account; (4) the extent to which economies of scale have been realized or are anticipated to be realized as the Separate Account grows; (5) fees charged by other advisers for managing similar funds; (6) whether the fee schedule set forth in the Agreement reflects any such economies of scale for the benefit of Separate Account investors; (7) comparisons of services and fee rates with any contracts entered into by TAI with other clients to whom TAI provides comparable services; and (8) any other benefits derived or anticipated to be derived by TAI or its affiliates from their relationship with the Separate Account. As a general matter, the Committee viewed these factors in their totality, with no single factor being the principal factor in determining whether to renew the Agreement.

In reaching its decisions regarding the renewal of the Agreement, the Committee took into account the information described above, other information provided to the Members in connection with this process, and relevant information provided to the Members and to their Committees on an ongoing basis in connection with the Committee’s general oversight duties with respect to the Separate Account. In addition, the Committee received and considered information from its legal counsel as to certain relevant guidelines that relate to the renewal process under Section 15(c) of the 1940 Act and certain other legal authorities.

In deciding whether to renew the Agreement, each Member may have accorded different weight to different factors, and thus, each Member may have had a different basis for his or her ultimate decision to vote to renew the Agreement for the Separate Account. At its meeting on March 28, 2013, the Committee voted unanimously to renew the Agreement for the Separate Account. Set forth below are certain general factors the Committee considered, followed by a summary of certain specific factors the Committee considered specifically related to the Separate Account.

The nature, extent and quality of services

The Committee considered that TAI is an experienced investment adviser that has managed the Separate Account since its operations commenced. Investment professionals at TAI and its affiliates also manage various accounts of the College Retirement Equities Fund (“CREF”), the TIAA-CREF Funds and the TIAA-CREF Life Funds. Under the Agreement, TAI is responsible for, among other duties: managing the assets of the Separate Account, including conducting research, recommending investments and placing orders to buy and sell securities for the Separate Account’s investment portfolio; active daily monitoring of the investment portfolio by various

22 2013 Semiannual Report   §   TIAA Separate Account VA-1

continued

personnel with specific responsibility for the particular types of investments in question; reporting on the investment performance of the Separate Account to the Committee on a regular basis; and carrying out, or overseeing the provision of, various administrative services to the Separate Account. The Committee considered that TAI has carried out these responsibilities in a competent and professional manner.

The Committee also considered, among other factors, the performance of the Separate Account, as discussed below. In addition, the Committee considered the nature and quality of non-portfolio management services provided by TAI and its affiliates. In this regard, the Committee considered its ongoing review of the performance of certain affiliated and unaffiliated service providers, including the quality of services provided by those firms and TAI’s oversight of those service providers and the outsourcing of certain services to other firms.

Investment performance

The Committee considered the investment performance of the Separate Account, over the periods indicated in the synopsis below. The Committee considered the Separate Account’s performance as compared to its peer universe and its benchmark index, the Russell 3000^® Index, before any reductions for fees or expenses. This analysis considered the impact of NAV rounding and excluded the effects of fair valuation, securities lending and class action litigation on the Separate Account’s performance as compared to the performance of its benchmark index. In this regard, the Committee considered that the performance of the Separate Account generally compared favorably to that of its benchmark (after considering the effect of expenses incurred to operate the Separate Account) and ranked in the top three performance quintiles versus its peer universes of mutual funds in all reported time periods except for the ten-year period. (For additional detail regarding the Separate Account’s performance, see the synopsis below.) The Committee concluded that, under the totality of circumstances considered, the investment performance of the Separate Account was within an acceptable range.

Cost and profitability

The Committee considered financial and profitability data relating to TAI for the calendar year 2012 with respect to the Separate Account. The Committee considered TAI’s profit calculations with respect to its services to the Separate Account both before and after taking into account the costs incurred directly or indirectly by TAI in connection with the distribution of the Separate Account. The Committee acknowledged the reasonableness of having a management fee rate that permits TAI to maintain and improve the quality of services provided to the Separate Account. The Committee considered that TAI had made a profit with respect to the Separate Account under the Agreement, and expected this trend to continue. The Committee concluded that those profits were not excessive in light of various relevant factors.

During its review of TAI’s profits, the Committee noted its ongoing efforts to examine the level of personnel and other resources available to TAI for its portfolio management functions so as to assess whether sufficient resources are being devoted to these functions.

TIAA Separate Account VA-1   §   2013 Semiannual Report 23

Management committee renewal of the
investment management agreement (unaudited)

Fees charged by other advisers

The Committee considered information regarding fees paid to other advisers for managing similar funds that underlie variable products, as analyzed by Lipper. The Committee determined that the management fee rate charged to the Separate Account under the Agreement typically was higher than the management fee rates charged by many or most other comparable mutual funds that underlie variable products. In this connection, the Committee also considered the inherent limitations of such comparisons in light of uncertainty as to how the fees of such similar mutual funds that underlie variable products are set and potentially material differences between the Separate Account and its comparable mutual funds, particularly since the Separate Account functions as a single tier variable annuity with expenses not normally borne by funds underlying variable products. Additionally, the Committee also considered the potential limitations of such comparisons due to the fact that, in many instances, Lipper based its comparisons on financial data relating to fiscal periods that differed from the period for which the Separate Account’s data were derived. Based on all factors considered, the Committee concluded that the management fee rate under the Agreement with respect to the Separate Account was within an acceptable range in relation to those charged by appropriate groups of comparable mutual funds that underlie variable products.

Economies of scale

The Committee considered whether TAI has experienced or is anticipated to experience economies of scale in connection with the operation of the Separate Account. The Committee determined that the current fee rate at current asset levels generally was comparable as compared to peer groups of mutual funds that underlie variable products. The Committee also noted that since the Separate Account was no longer being actively sold, TAI had little expectation that the Separate Account’s assets would grow, thus creating economies of scale that could be passed on to contractholders. Based on all factors considered, the Committee concluded that the Separate Account’s fee schedule was within an acceptable range in light of current and potential economies of scale considerations and its current asset level.

Fee comparison with other TAI clients

The Committee considered that TAI and its affiliates provide similar investment management services to other affiliated investment companies, including other funds and accounts that are indexed to the Russell 3000^® Index. The Committee considered the schedule of management fee rates for each of these funds and accounts. The Committee also considered TAI’s representation that, while the management fee rate charged to the Separate Account may differ from the management fee rates charged to these other funds and accounts, this is due in part to the fact that these other funds and accounts: are offered through products that charge additional fees to their investors; are offered in different types of markets; are provided with different types or levels of services by TAI; target different types of investors; and/or are packaged with other products, and that these factors, among others, justify different management fee rate schedules.

24 2013 Semiannual Report   §   TIAA Separate Account VA-1

concluded

Other benefits

The Committee also considered additional benefits to the Separate Account and to TAI and its affiliates arising from the Agreement. For example, TAI and its affiliates may benefit from the advisory relationship with the Separate Account to the extent that this relationship results in potential investors viewing the TIAA-CREF group of companies as a leading retirement plan provider in the academic and nonprofit markets and as a single source for all their financial service needs. TAI, the Separate Account and other funds and accounts managed in the same manner and by the same personnel may benefit from economies of scale. Additionally, TAI and the Separate Account may benefit from TAI’s ability to acquire investment research related to its commission (i.e., soft dollar) arrangements.

Certain specific factors considered by the committee

The Committee considered the following specific factors (among others) in connection with its determination to renew the Agreement with respect to the Separate Account. If the Separate Account is described in the following discussions as being in the “1st” quintile, it is in the best of five groups (that is, the group has the best performance or the lowest expenses, as the case may be). References below to quintiles are based on data provided to the Committee in the reports prepared by Lipper. All time periods referenced below ended as of December 31, 2012. Under the Morningstar rating system, 5 stars is the highest (best) rating category and 1 star is the lowest (worst) rating category. Statements below regarding “net profit” or “net loss” refer to whether TAI earned a profit or incurred a loss for the services that it rendered to the Separate Account during 2012 under the Agreement.

• The Separate Account’s annual contractual management fee rate is 0.30% of average daily net assets, but was waived by TAI during 2012 to 0.15% of average daily net assets.

• The Separate Account’s total expenses and management fees were in the 5th and 4th quintiles of the group of comparable funds selected by Lipper for expense comparison purposes, respectively, and in the 5th and 3rd quintiles of the universe of comparable funds selected by Lipper for expense comparison purposes, respectively.

• The Separate Account was in the 2nd, 2nd, 3rd and 4th quintiles of the universe of comparable funds selected by Lipper for performance comparison purposes for the one-, three-, five- and ten-year periods, respectively.

• For the one- and three-year periods, the Separate Account’s relative gross performance (meaning the Account’s performance without any reductions for fees or expenses) as compared to its benchmark, the Russell 3000^® Index, was +5 and +7 basis points, respectively.

• The Separate Account received an Overall Morningstar Rating of 5 stars.

• TAI earned a net profit with respect to its services of the Separate Account for the one-year period.

Based primarily on the foregoing factors and considerations, the Committee renewed the Agreement for the Separate Account.

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©2013 Teachers Insurance and Annuity Association–College Retirement Equities Fund (TIAA-CREF),

730 Third Avenue, New York, NY 10017-3206.

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

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

SCHEDULE OF INVESTMENTS (unaudited)

June 30, 2013

SHARES		COMPANY	VALUE (000)
COMMON STOCKS - 99.5%
AUTOMOBILES & COMPONENTS - 1.1%
1,581		Allison Transmission Holdings, Inc	$	36
3,241	*	American Axle & Manufacturing Holdings, Inc		60
5,331	*	BorgWarner, Inc		459
2,813		Cooper Tire & Rubber Co		93
6,736		Dana Holding Corp		130
14,334		Delphi Automotive plc		727
1,160		Dorman Products, Inc		53
1,013		Drew Industries, Inc		40
996	*	Federal Mogul Corp (Class A)		10
175,462		Ford Motor Co		2,714
735	*	Fuel Systems Solutions, Inc		13
37,906	*	General Motors Co		1,263
6,807		Gentex Corp		157
1,535	*	Gentherm, Inc		29
11,265	*	Goodyear Tire & Rubber Co		172
10,257		Harley-Davidson, Inc		562
31,173		Johnson Controls, Inc		1,116
4,131		Lear Corp		250
2,342	*	Modine Manufacturing Co		25
323		Remy International, Inc		6
1,983		Spartan Motors, Inc		12
909		Standard Motor Products, Inc		31
1,336	*	Stoneridge, Inc		16
1,205		Superior Industries International, Inc		21
2,780	*	Tenneco, Inc		126
3,822	*,e	Tesla Motors, Inc		411
2,018		Thor Industries, Inc		99
312	*	Tower International, Inc		6
4,872	*	TRW Automotive Holdings Corp		324
2,234	*	Visteon Corp		141
1,327	*	Winnebago Industries, Inc		28
		TOTAL AUTOMOBILES & COMPONENTS		9,130
BANKS - 3.5%
810		1st Source Corp		19
1,172		1st United Bancorp, Inc		8
351		Access National Corp		5
374		American National Bankshares, Inc		9
1,244	*	Ameris Bancorp		21
387		Ames National Corp		9
1,475		Apollo Residential Mortgage		24
586	e	Arrow Financial Corp		15
7,538		Associated Banc-Corp		117
4,208		Astoria Financial Corp		45
333		Bancfirst Corp		16
1,517		Banco Latinoamericano de Exportaciones S.A. (Class E)		34
4,426		Bancorpsouth, Inc		78
2,688		Bank Mutual Corp		15
2,053		Bank of Hawaii Corp		103
291		Bank of Kentucky Financial Corp		8
288		Bank of Marin Bancorp		12
1,422		Bank of the Ozarks, Inc		62
1,044		BankFinancial Corp		9
1,770		BankUnited		46

1

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
824		Banner Corp	$	28
194		Bar Harbor Bankshares		7
31,879		BB&T Corp		1,080
3,505		BBCN Bancorp, Inc		50
316	*	BBX Capital Corp		4
1,950	*	Beneficial Mutual Bancorp, Inc		16
1,072		Berkshire Hills Bancorp, Inc		30
812		BNC Bancorp		9
559	*	BofI Holding, Inc		26
1,207		BOK Financial Corp		77
3,543		Boston Private Financial Holdings, Inc		38
354		Bridge Bancorp, Inc		8
475	*	Bridge Capital Holdings		8
3,533		Brookline Bancorp, Inc		31
630		Bryn Mawr Bank Corp		15
159		C&F Financial Corp		9
460		Camden National Corp		16
1,121	*	Capital Bank Financial Corp		21
831	*	Capital City Bank Group, Inc		10
11,183		CapitalSource, Inc		105
7,090		Capitol Federal Financial		86
1,503		Cardinal Financial Corp		22
3,968		Cathay General Bancorp		81
645		Center Bancorp, Inc		8
1,148		Centerstate Banks of Florida, Inc		10
987	*	Central Pacific Financial Corp		18
152		Century Bancorp, Inc		5
1,050		Charter Financial Corp		11
1,616		Chemical Financial Corp		42
168		Chemung Financial Corp		6
9,210	*	CIT Group, Inc		429
533		Citizens & Northern Corp		10
726	e	City Holding Co		28
2,136		City National Corp		135
875		Clifton Savings Bancorp, Inc		10
498		CNB Financial Corp		8
1,740		CoBiz, Inc		14
2,091		Columbia Banking System, Inc		50
8,538		Comerica, Inc		340
3,451		Commerce Bancshares, Inc		150
1,740		Community Bank System, Inc		54
1,003		Community Trust Bancorp, Inc		36
449	*	CommunityOne Bancorp		4
411	*	CU Bancorp		7
2,388	e	Cullen/Frost Bankers, Inc		159
914	*	Customers Bancorp, Inc		15
4,428		CVB Financial Corp		52
1,609		Dime Community Bancshares		25
6,269	*	Doral Financial Corp		5
946	*	Eagle Bancorp, Inc		21
6,966		East West Bancorp, Inc		192
301		Enterprise Bancorp, Inc		6
828		Enterprise Financial Services Corp		13
670		ESB Financial Corp		8
1,035		ESSA Bancorp, Inc		11
3,701		EverBank Financial Corp		61
324	*	Farmers Capital Bank Corp		7
384		Federal Agricultural Mortgage Corp (Class C)		11
465		Fidelity Southern Corp		6
40,056		Fifth Third Bancorp		723
664		Financial Institutions, Inc		12
720		First Bancorp (NC)		10
3,468	*	First Bancorp (Puerto Rico)		25

2

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
498		First Bancorp, Inc	$	9
3,831		First Busey Corp		17
345		First Citizens Bancshares, Inc (Class A)		66
4,700		First Commonwealth Financial Corp		35
680		First Community Bancshares, Inc		11
886		First Connecticut Bancorp		12
510		First Defiance Financial Corp		12
2,653		First Financial Bancorp		40
1,438	e	First Financial Bankshares, Inc		80
590		First Financial Corp		18
889		First Financial Holdings, Inc		19
814		First Financial Northwest, Inc		8
11,036		First Horizon National Corp		124
654		First Interstate Bancsystem, Inc		14
369		First M&F Corp		6
1,238		First Merchants Corp		21
3,929		First Midwest Bancorp, Inc		54
193	*	First NBC Bank Holding Co		5
15,757		First Niagara Financial Group, Inc		159
288		First of Long Island Corp		10
412		First Pactrust Bancorp, Inc		6
4,299		First Republic Bank		165
2,760	*	First Security Group, Inc		6
8,203		FirstMerit Corp		164
890	*	Flagstar Bancorp, Inc		12
1,645		Flushing Financial Corp		27
6,390		FNB Corp		77
752		Fox Chase Bancorp, Inc		13
689		Franklin Financial Corp		12
10,086		Fulton Financial Corp		116
602		German American Bancorp, Inc		14
3,468		Glacier Bancorp, Inc		77
500		Great Southern Bancorp, Inc		13
710		Guaranty Bancorp		8
3,896		Hancock Holding Co		117
1,525	*	Hanmi Financial Corp		27
928		Heartland Financial USA, Inc		26
1,007	*	Heritage Commerce Corp		7
534		Heritage Financial Corp		8
917	*	Heritage Oaks Bancorp		6
52		Hingham Institution for Savings		4
343	*	Home Bancorp, Inc		6
2,256		Home Bancshares, Inc		59
821		Home Federal Bancorp, Inc		10
2,326		Home Loan Servicing Solutions Ltd		56
444		HomeStreet, Inc		10
980	*	HomeTrust Bancshares, Inc		17
259		Horizon Bancorp		5
23,813		Hudson City Bancorp, Inc		218
754		Hudson Valley Holding Corp		13
38,444		Huntington Bancshares, Inc		303
1,370		IBERIABANK Corp		73
1,031		Independent Bank Corp		36
187	*	Independent Bank Group, Inc		6
2,385		International Bancshares Corp		54
859	*	Intervest Bancshares Corp		6
2,538		Investors Bancorp, Inc		54
1,441	*	Kearny Financial Corp		15
44,469		Keycorp		491
1,129		Lakeland Bancorp, Inc		12
734		Lakeland Financial Corp		20
5,743	e	M&T Bank Corp		642
1,090	*	Macatawa Bank Corp		5

3

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
731		MainSource Financial Group, Inc	$	10
2,798		MB Financial, Inc		75
410		Mercantile Bank Corp		7
273		Merchants Bancshares, Inc		8
249	*	Meridian Interstate Bancorp, Inc		5
241		Meta Financial Group, Inc		6
759		MetroCorp Bancshares, Inc		7
14,797	*	MGIC Investment Corp		90
259		Middleburg Financial Corp		5
265		Midsouth Bancorp, Inc		4
334		MidWestOne Financial Group, Inc		8
190	*	NASB Financial, Inc		5
2,387		National Bank Holdings Corp		47
357		National Bankshares, Inc		13
6,208		National Penn Bancshares, Inc		63
928	*,e	Nationstar Mortgage Holdings, Inc		35
1,992		NBT Bancorp, Inc		42
20,180	e	New York Community Bancorp, Inc		283
1,173	*	NewBridge Bancorp		7
2,646		Northfield Bancorp, Inc		31
302		Northrim BanCorp, Inc		7
4,319		Northwest Bancshares, Inc		58
741		OceanFirst Financial Corp		12
4,732	*	Ocwen Financial Corp		195
2,272		OFG Bancorp		41
3,801		Old National Bancorp		53
700	*	OmniAmerican Bancorp, Inc		15
2,090		Oritani Financial Corp		33
991		Pacific Continental Corp		12
726	*	Pacific Premier Bancorp, Inc		9
1,796		PacWest Bancorp		55
529	e	Park National Corp		36
1,481	*	Park Sterling Bank		9
420		Peapack Gladstone Financial Corp		7
221		Penns Woods Bancorp, Inc		9
720	*	Pennsylvania Commerce Bancorp, Inc		14
575	*	PennyMac Financial Services, Inc		12
595		Peoples Bancorp, Inc		13
14,730		People's United Financial, Inc		219
1,766	*	Pinnacle Financial Partners, Inc		45
24,240		PNC Financial Services Group, Inc		1,768
4,451	*	Popular, Inc		135
564	*	Preferred Bank		9
3,026		PrivateBancorp, Inc		64
2,068		Prosperity Bancshares, Inc		107
446		Provident Financial Holdings, Inc		7
2,748		Provident Financial Services, Inc		43
2,753		Provident New York Bancorp		26
7,892	e	Radian Group, Inc		92
64,704		Regions Financial Corp		617
1,026	e	Renasant Corp		25
612		Republic Bancorp, Inc (Class A)		13
1,513		Rockville Financial, Inc		20
629		Roma Financial Corp		11
1,211		S&T Bancorp, Inc		24
615		S.Y. Bancorp, Inc		15
1,250		Sandy Spring Bancorp, Inc		27
728	e	SCBT Financial Corp		37
3,679	*	Seacoast Banking Corp of Florida		8
370		Sierra Bancorp		5
2,150	*	Signature Bank		178
905		Simmons First National Corp (Class A)		24
962	e	Southside Bancshares, Inc		23

4

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
740	*	Southwest Bancorp, Inc	$	10
1,614		State Bank & Trust Co		24
1,347		StellarOne Corp		26
1,199		Sterling Bancorp		14
1,571		Sterling Financial Corp		37
513	*	Suffolk Bancorp		8
1,927	*	Sun Bancorp, Inc		7
24,727		SunTrust Banks, Inc		781
8,530		Susquehanna Bancshares, Inc		110
2,032	*	SVB Financial Group		169
36,305		Synovus Financial Corp		106
607	*	Taylor Capital Group, Inc		10
7,501		TCF Financial Corp		106
700		Territorial Bancorp, Inc		16
1,877	*	Texas Capital Bancshares, Inc		83
3,624	*	TFS Financial Corp		41
1,514	*	The Bancorp, Inc		23
429		Tompkins Trustco, Inc		19
1,255	e	TowneBank		18
286		Tree.com, Inc		5
726		Trico Bancshares		15
307	*	Tristate Capital Holdings, Inc		4
5,202		Trustco Bank Corp NY		28
3,090		Trustmark Corp		76
1,489		UMB Financial Corp		83
5,809		Umpqua Holdings Corp		87
814		Union Bankshares Corp		17
2,414	e	United Bankshares, Inc		64
2,012	*	United Community Banks, Inc		25
1,829	*	United Community Financial Corp		9
1,056		United Financial Bancorp, Inc		16
792		Univest Corp of Pennsylvania		15
84,704		US Bancorp		3,062
9,153	e	Valley National Bancorp		87
1,734		ViewPoint Financial Group		36
1,010	*	Virginia Commerce Bancorp		14
568	*	Walker & Dunlop, Inc		10
835		Washington Banking Co		12
4,778		Washington Federal, Inc		90
881		Washington Trust Bancorp, Inc		25
4,133		Webster Financial Corp		106
221,085		Wells Fargo & Co		9,124
1,213		WesBanco, Inc		32
746		West Bancorporation, Inc		9
1,286	e	Westamerica Bancorporation		59
3,370	*	Western Alliance Bancorp		53
1,313		Westfield Financial, Inc		9
2,922		Wilshire Bancorp, Inc		19
1,704		Wintrust Financial Corp		65
320		WSFS Financial Corp		17
662	*	Yadkin Financial Corp		9
8,430		Zions Bancorporation		243
		TOTAL BANKS		28,921
CAPITAL GOODS - 8.1%
31,605		3M Co		3,456
3,590		A.O. Smith Corp		130
851		Aaon, Inc		28
1,829		AAR Corp		40
2,045	*,e	Accuride Corp		10
1,483		Aceto Corp		21
3,339		Actuant Corp (Class A)		110
1,964		Acuity Brands, Inc		148

5

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,649	*	Aecom Technology Corp	$	148
1,808	*	Aegion Corp		41
831	*	Aerovironment, Inc		17
4,488		AGCO Corp		225
3,284		Air Lease Corp		91
2,801		Aircastle Ltd		45
374		Alamo Group, Inc		15
1,351		Albany International Corp (Class A)		45
1,338		Alliant Techsystems, Inc		110
1,234		Altra Holdings, Inc		34
909	*	Ameresco, Inc		8
440	e	American Railcar Industries, Inc		15
373		American Science & Engineering, Inc		21
2,155	*,e	American Superconductor Corp		6
475	*	American Woodmark Corp		16
11,155		Ametek, Inc		472
475		Ampco-Pittsburgh Corp		9
1,541	*	API Technologies Corp		4
1,353		Apogee Enterprises, Inc		32
1,924		Applied Industrial Technologies, Inc		93
420		Argan, Inc		7
1,172		Armstrong World Industries, Inc		56
4,418	*	ArvinMeritor, Inc		31
729		Astec Industries, Inc		25
525	*	Astronics Corp		21
1,446		AZZ, Inc		56
5,143		Babcock & Wilcox Co		154
2,453		Barnes Group, Inc		74
4,584	*	BE Aerospace, Inc		289
2,092	*	Beacon Roofing Supply, Inc		79
2,021		Belden CDT, Inc		101
2,508	*	Blount International, Inc		30
1,497	*	Bluelinx Holdings, Inc		3
34,660		Boeing Co		3,551
2,120		Brady Corp (Class A)		65
2,200		Briggs & Stratton Corp		44
2,524	*	Builders FirstSource, Inc		15
793	*	CAI International, Inc		19
12,740	*,e	Capstone Turbine Corp		15
2,910		Carlisle Cos, Inc		181
30,053		Caterpillar, Inc		2,479
1,390	*	Chart Industries, Inc		131
4,600		Chicago Bridge & Iron Co NV		274
839		CIRCOR International, Inc		43
2,273		Clarcor, Inc		119
1,332		CNH Global NV		55
428		Coleman Cable, Inc		8
3,640	*	Colfax Corp		190
1,162	*	Columbus McKinnon Corp		25
1,853		Comfort Systems USA, Inc		28
1,268	*	Commercial Vehicle Group, Inc		9
2,220		Crane Co		133
916		Cubic Corp		44
8,690		Cummins, Inc		943
2,140		Curtiss-Wright Corp		79
26,842		Danaher Corp		1,699
17,765		Deere & Co		1,443
3,419	*	DigitalGlobe, Inc		106
6,818		Donaldson Co, Inc		243
932		Douglas Dynamics, Inc		12
7,806		Dover Corp		606
485	*	Ducommun, Inc		10
430	*	DXP Enterprises, Inc		29

6

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,512	*	Dycom Industries, Inc	$	35
757		Dynamic Materials Corp		12
21,462		Eaton Corp		1,412
758	*	Edgen Group, Inc		5
2,978		EMCOR Group, Inc		121
32,921		Emerson Electric Co		1,796
840		Encore Wire Corp		29
1,511	*	Energy Recovery, Inc		6
2,205		EnerSys		108
788	*	Engility Holdings, Inc		22
711	*	Enphase Energy, Inc		5
908	*	EnPro Industries, Inc		46
1,380		ESCO Technologies, Inc		45
1,554	*	Esterline Technologies Corp		112
9,057		Exelis, Inc		125
13,771		Fastenal Co		631
3,085	*	Federal Signal Corp		27
2,307	*	Flow International Corp		9
6,553		Flowserve Corp		354
7,463		Fluor Corp		443
7,322		Fortune Brands Home & Security, Inc		284
2,155		Franklin Electric Co, Inc		73
635		Freightcar America, Inc		11
7,600	*,e	FuelCell Energy, Inc		10
2,145	*	Furmanite Corp		14
2,249		Gardner Denver, Inc		169
2,148		GATX Corp		102
2,932	*,e	GenCorp, Inc		48
2,206		Generac Holdings, Inc		82
2,068		General Cable Corp		64
13,677		General Dynamics Corp		1,071
473,472		General Electric Co		10,980
1,594	*	Gibraltar Industries, Inc		23
809		Global Power Equipment Group, Inc		13
795		Gorman-Rupp Co		25
2,811		Graco, Inc		178
4,898	*,e	GrafTech International Ltd		36
470		Graham Corp		14
1,832		Granite Construction, Inc		55
3,079		Great Lakes Dredge & Dock Corp		24
1,109	*	Greenbrier Cos, Inc		27
2,067		Griffon Corp		23
1,293		H&E Equipment Services, Inc		27
534		Hardinge, Inc		8
3,933		Harsco Corp		91
2,422		Heico Corp		122
4,837	*	Hexcel Corp		165
36,032		Honeywell International, Inc		2,859
800		Houston Wire & Cable Co		11
2,715		Hubbell, Inc (Class B)		269
2,459		Huntington Ingalls		139
316		Hurco Cos, Inc		9
481		Hyster-Yale Materials Handling, Inc		30
3,746		IDEX Corp		202
2,585	*	II-VI, Inc		42
17,295		Illinois Tool Works, Inc		1,196
13,684		Ingersoll-Rand plc		760
916		Insteel Industries, Inc		16
4,120		ITT Corp		121
6,034	*	Jacobs Engineering Group, Inc		333
1,308		John Bean Technologies Corp		27
4,866		Joy Global, Inc		236
386		Kadant, Inc		12

7

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,238		Kaman Corp	$	43
1,480		Kaydon Corp		41
6,842		KBR, Inc		222
3,598		Kennametal, Inc		140
1,479	*,e	KEYW Holding Corp		20
1,860	*	Kratos Defense & Security Solutions, Inc		12
4,021		L-3 Communications Holdings, Inc		345
990	*	Layne Christensen Co		19
464		LB Foster Co (Class A)		20
2,308		Lennox International, Inc		149
3,889		Lincoln Electric Holdings, Inc		223
623		Lindsay Manufacturing Co		47
533	*	LMI Aerospace, Inc		10
11,891		Lockheed Martin Corp		1,290
1,293		LSI Industries, Inc		10
853	*	Lydall, Inc		12
6,133		Manitowoc Co, Inc		110
16,328		Masco Corp		318
2,813	*	Mastec, Inc		93
901		Met-Pro Corp		12
445		Michael Baker Corp		12
947	*	Middleby Corp		161
614		Miller Industries, Inc		9
1,850	*	Moog, Inc (Class A)		95
3,441	*	MRC Global, Inc		95
2,169		MSC Industrial Direct Co (Class A)		168
1,284		Mueller Industries, Inc		65
7,534		Mueller Water Products, Inc (Class A)		52
881	*	MYR Group, Inc		17
206	e	National Presto Industries, Inc		15
2,730	*,e	Navistar International Corp		76
926	*	NCI Building Systems, Inc		14
822		NN, Inc		9
2,935		Nordson Corp		203
383	*	Nortek, Inc		25
10,767		Northrop Grumman Corp		891
435	*	Northwest Pipe Co		12
2,760	*	Orbital Sciences Corp		48
1,499	*	Orion Marine Group, Inc		18
4,025	*	Oshkosh Truck Corp		153
5,451	*	Owens Corning, Inc		213
16,205		Paccar, Inc		870
5,093		Pall Corp		338
6,831		Parker Hannifin Corp		652
205	*	Patrick Industries, Inc		4
9,355		Pentair Ltd		540
1,399	*	Perini Corp		25
1,472	*	Pgt, Inc		13
1,025		Pike Electric Corp		13
738	*	Ply Gem Holdings, Inc		15
762	*	PMFG, Inc		5
2,131	*,e	Polypore International, Inc		86
458	*	Powell Industries, Inc		24
751	*	PowerSecure International, Inc		11
6,710		Precision Castparts Corp		1,517
96		Preformed Line Products Co		6
1,410		Primoris Services Corp		28
776	*,e	Proto Labs, Inc		50
1,720		Quanex Building Products Corp		29
9,586	*	Quanta Services, Inc		254
1,726		Raven Industries, Inc		52
14,863		Raytheon Co		983
1,025	*	RBC Bearings, Inc		53

8

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,981		Regal-Beloit Corp	$	128
1,359	*	Revolution Lighting Technologies, Inc		5
1,385	*	Rexnord Corp		23
6,397		Rockwell Automation, Inc		532
6,212		Rockwell Collins, Inc		394
4,430		Roper Industries, Inc		550
1,703	*	Rush Enterprises, Inc (Class A)		42
1,742		Simpson Manufacturing Co, Inc		51
2,633		Snap-On, Inc		235
988	*	SolarCity Corp		37
460	*	Sparton Corp		8
5,621	*	Spirit Aerosystems Holdings, Inc (Class A)		121
2,145		SPX Corp		154
616		Standex International Corp		32
7,430		Stanley Works		574
701	*	Sterling Construction Co, Inc		6
1,027		Sun Hydraulics Corp		32
1,327	e	TAL International Group, Inc		58
1,988	*	Taser International, Inc		17
346	*	Tecumseh Products Co (Class A)		4
1,716	*	Teledyne Technologies, Inc		133
851		Tennant Co		41
5,365	*	Terex Corp		141
967	e	Textainer Group Holdings Ltd		37
12,735		Textron, Inc		332
262	*	The ExOne Company		16
728	*	Thermon Group Holdings		15
3,958		Timken Co		223
2,439	e	Titan International, Inc		41
784	*,e	Titan Machinery, Inc		15
2,682		Toro Co		122
2,397		TransDigm Group, Inc		376
714	*	Trex Co, Inc		34
1,827	*	Trimas Corp		68
3,579		Trinity Industries, Inc		138
2,423		Triumph Group, Inc		192
370		Twin Disc, Inc		9
4,317	*	United Rentals, Inc		215
42,074		United Technologies Corp		3,910
979		Universal Forest Products, Inc		39
3,259		URS Corp		154
3,497	*,e	USG Corp		81
1,217		Valmont Industries, Inc		174
1,023		Vicor Corp		7
2,705		W.W. Grainger, Inc		682
3,136	*	Wabash National Corp		32
2,676	*	WABCO Holdings, Inc		200
1,468		Watsco, Inc		123
1,120		Watts Water Technologies, Inc (Class A)		51
2,122	*	WESCO International, Inc		144
4,484		Westinghouse Air Brake Technologies Corp		240
3,144		Woodward Governor Co		126
502	*	Xerium Technologies, Inc		5
8,479		Xylem, Inc		228
		TOTAL CAPITAL GOODS		66,660
COMMERCIAL & PROFESSIONAL SERVICES - 1.0%
2,600		ABM Industries, Inc		64
2,247		Acacia Research (Acacia Technologies)		50
5,555	*	ACCO Brands Corp		35
828	e	Acorn Energy, Inc		7
1,016		Administaff, Inc		31

9

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
10,016		ADT Corp	$	399
1,661	*	Advisory Board Co		91
928		American Ecology Corp		25
2,166	*	ARC Document Solutions, Inc		9
508	*	AT Cross Co		9
4,552		Avery Dennison Corp		195
383		Barrett Business Services, Inc		20
2,034		Brink’s Co		52
1,375	*	Casella Waste Systems, Inc (Class A)		6
2,526	*,e	CBIZ, Inc		17
669		CDI Corp		9
242		Ceco Environmental Corp		3
3,345	*,e	Cenveo, Inc		7
4,681		Cintas Corp		213
2,765	*	Clean Harbors, Inc		140
334	*	Consolidated Graphics, Inc		16
5,437	*,e	Coolbrands International, Inc		5
5,046	*	Copart, Inc		155
1,551		Corporate Executive Board Co		98
5,298		Corrections Corp of America		179
594		Courier Corp		9
4,991	e	Covanta Holding Corp		100
555	*	CRA International, Inc		10
2,340		Deluxe Corp		81
1,900	e	Dun & Bradstreet Corp		185
1,037	*	EnerNOC, Inc		14
1,357		Ennis, Inc		23
5,519		Equifax, Inc		325
641		Exponent, Inc		38
419	*	Franklin Covey Co		6
2,013	*	FTI Consulting, Inc		66
916		G & K Services, Inc (Class A)		44
3,325		Geo Group, Inc		113
645	*	GP Strategies Corp		15
3,373		Healthcare Services Group		83
943		Heidrick & Struggles International, Inc		16
218	*	Heritage-Crystal Clean, Inc		3
2,682		Herman Miller, Inc		73
2,154		HNI Corp		78
1,154	*	Huron Consulting Group, Inc		53
892	*	ICF International, Inc		28
7,377	*	ICO Global Communications Holdings Ltd		19
3,014	*	IHS, Inc (Class A)		315
1,756	*,e	Innerworkings, Inc		19
2,666		Interface, Inc		45
462		Intersections, Inc		4
7,789		Iron Mountain, Inc		207
3,363		KAR Auction Services, Inc		77
1,394		Kelly Services, Inc (Class A)		24
1,380		Kforce, Inc		20
1,737		Kimball International, Inc (Class B)		17
2,203		Knoll, Inc		31
2,239	*	Korn/Ferry International		42
3,533		Manpower, Inc		194
1,316		McGrath RentCorp		45
1,290		Mine Safety Appliances Co		60
757	*	Mistras Group, Inc		13
1,712	*	Mobile Mini, Inc		57
514		Multi-Color Corp		16
79	*	National Technical Systems, Inc		1
2,873	*	Navigant Consulting, Inc		34
7,571		Nielsen Holdings NV		254
563		NL Industries, Inc		6

10

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,322	*,e	Odyssey Marine Exploration, Inc	$	10
2,101	*	On Assignment, Inc		56
931	*	Performant Financial Corp		11
9,167	e	Pitney Bowes, Inc		135
891		Quad		21
8,306	e	R.R. Donnelley & Sons Co		116
12,521		Republic Services, Inc		425
2,774		Resources Connection, Inc		32
6,518		Robert Half International, Inc		217
2,927		Rollins, Inc		76
1,472	*	RPX Corp		25
585		Schawk, Inc (Class A)		8
672	*	Standard Parking Corp		14
3,734		Steelcase, Inc (Class A)		54
3,954	*	Stericycle, Inc		437
946	*	Team, Inc		36
3,077	*	Tetra Tech, Inc		72
648		TMS International Corp		10
2,980		Towers Watson & Co		244
896	*	TRC Cos, Inc		6
1,954	*	TrueBlue, Inc		41
664		Unifirst Corp		61
1,860		United Stationers, Inc		62
6,929	*	Verisk Analytics, Inc		414
1,084		Viad Corp		27
205		VSE Corp		8
1,134	*	WageWorks, Inc		39
5,657		Waste Connections, Inc		233
21,392		Waste Management, Inc		863
921		West Corp		20
		TOTAL COMMERCIAL & PROFESSIONAL SERVICES		8,471
CONSUMER DURABLES & APPAREL - 1.6%
1,463		American Greetings Corp (Class A)		27
653		Arctic Cat, Inc		29
562		Bassett Furniture Industries, Inc		9
970	*,e	Beazer Homes USA, Inc		17
499	e	Blyth, Inc		7
4,339		Brunswick Corp		139
3,430	e	Callaway Golf Co		23
2,448		Carter's, Inc		181
379	*	Cavco Industries, Inc		19
715	*	Clarus Corp		7
12,872		Coach, Inc		735
562	e	Columbia Sportswear Co		35
4,050	*	CROCS, Inc		67
269		CSS Industries, Inc		7
222		Culp, Inc		4
1,570	*,e	Deckers Outdoor Corp		79
12,912		DR Horton, Inc		275
1,299	e	Ethan Allen Interiors, Inc		37
462	*	EveryWare Global, Inc		6
5,284	*	Fifth & Pacific Cos, Inc		118
59		Flexsteel Industries, Inc		1
2,354	*	Fossil Group, Inc		243
5,292	*,e	Garmin Ltd		191
811	*	G-III Apparel Group Ltd		39
4,488		Hanesbrands, Inc		231
3,112		Harman International Industries, Inc		169
5,210	e	Hasbro, Inc		234
1,486	*	Helen of Troy Ltd		57
500		Hooker Furniture Corp		8

11

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,761	*,e	Hovnanian Enterprises, Inc (Class A)	$	27
2,610	*	Iconix Brand Group, Inc		77
1,204	*	iRobot Corp		48
816	e	Jakks Pacific, Inc		9
5,152	*	Jarden Corp		225
232	*	Johnson Outdoors, Inc		6
4,415		Jones Apparel Group, Inc		61
3,831	e	KB Home		75
2,552		La-Z-Boy, Inc		52
2,910	*,e	Leapfrog Enterprises, Inc		29
6,635	e	Leggett & Platt, Inc		206
7,572	e	Lennar Corp (Class A)		273
847	*	Libbey, Inc		20
362		Lifetime Brands, Inc		5
862	*	M/I Homes, Inc		20
1,202	*	Maidenform Brands, Inc		21
441		Marine Products Corp		3
15,817		Mattel, Inc		717
1,887		MDC Holdings, Inc		61
1,657	*	Meritage Homes Corp		72
9,194	*	Michael Kors Holdings Ltd		570
2,729	*	Mohawk Industries, Inc		307
817		Movado Group, Inc		28
271		Nacco Industries, Inc (Class A)		15
1,389	*	Nautilus, Inc		12
13,250		Newell Rubbermaid, Inc		348
32,600		Nike, Inc (Class B)		2,076
233	*	NVR, Inc		215
621		Oxford Industries, Inc		39
546		Perry Ellis International, Inc		11
3,714		Phillips-Van Heusen Corp		464
3,100		Polaris Industries, Inc		294
2,133		Pool Corp		112
17,365	*	Pulte Homes, Inc		329
6,076	*	Quiksilver, Inc		39
2,749		Ralph Lauren Corp		478
444		RG Barry Corp		7
2,334		Ryland Group, Inc		94
1,898	*	Skechers U.S.A., Inc (Class A)		46
796	*,e	Skullcandy, Inc		4
2,979	*,e	Smith & Wesson Holding Corp		30
6,786	*	Standard-Pacific Corp		56
288	*	Steinway Musical Instruments, Inc		9
1,788	*	Steven Madden Ltd		86
887	e	Sturm Ruger & Co, Inc		43
995	*	Taylor Morrison Home Corp		24
2,758	*	Tempur-Pedic International, Inc		121
7,450	*	Toll Brothers, Inc		243
650	*	TRI Pointe Homes, Inc		11
1,206		True Religion Apparel, Inc		38
2,191	*	Tumi Holdings, Inc		53
2,427		Tupperware Corp		188
3,832	*,e	Under Armour, Inc (Class A)		229
700	*	Unifi, Inc		14
787	*	Universal Electronics, Inc		22
1,001	*,e	Vera Bradley, Inc		22
4,012		VF Corp		775
378		Weyco Group, Inc		9
3,614		Whirlpool Corp		413
638	*	William Lyon Homes, Inc		16
2,302		Wolverine World Wide, Inc		126
1,005	*,e	Zagg, Inc		5
		TOTAL CONSUMER DURABLES & APPAREL		13,022

12

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
CONSUMER SERVICES - 2.2%
1,093	*	AFC Enterprises	$	39
812	*	American Public Education, Inc		30
1,644		Ameristar Casinos, Inc		43
4,416	*	Apollo Group, Inc (Class A)		78
692	*	Ascent Media Corp (Series A)		54
1,860	*,e	Bally Technologies, Inc		105
1,195	*	BJ’s Restaurants, Inc		44
2,531	*	Bloomin’ Brands, Inc		63
1,276		Bob Evans Farms, Inc		60
2,708	*	Boyd Gaming Corp		31
987	*	Bravo Brio Restaurant Group, Inc		18
910	*	Bridgepoint Education, Inc		11
512	*	Bright Horizons Family Solutions		18
3,240		Brinker International, Inc		128
859	*	Buffalo Wild Wings, Inc		84
3,570		Burger King Worldwide, Inc		70
1,990	*,e	Caesars Entertainment Corp		27
428	*	Capella Education Co		18
3,103	*	Career Education Corp		9
18,999		Carnival Corp		651
741		Carriage Services, Inc		13
620	*	Carrols Restaurant Group, Inc		4
749		CBRL Group, Inc		71
1,153		CEC Entertainment, Inc		47
2,494		Cheesecake Factory		104
1,475	*	Chipotle Mexican Grill, Inc (Class A)		537
1,471	e	Choice Hotels International, Inc		58
533		Churchill Downs, Inc		42
751	*	Chuy’s Holdings, Inc		29
4,659	*,e	Corinthian Colleges, Inc		10
5,864		Darden Restaurants, Inc		296
4,746	*	Denny’s Corp		27
2,747		DeVry, Inc		85
740		DineEquity, Inc		51
495	*	Diversified Restaurant Holdings, Inc		4
2,824		Domino’s Pizza, Inc		164
4,115		Dunkin Brands Group, Inc		176
1,176	*	Education Management Corp		7
289		Einstein Noah Restaurant Group, Inc		4
694	*	Fiesta Restaurant Group, Inc		24
2,029	*	Grand Canyon Education, Inc		65
12,810		H&R Block, Inc		356
2,578		Hillenbrand, Inc		61
2,039	*	Hyatt Hotels Corp		82
309	*	Ignite Restaurant Group, Inc		6
11,921		International Game Technology		199
903		International Speedway Corp (Class A)		28
1,901		Interval Leisure Group, Inc		38
1,142	*	Isle of Capri Casinos, Inc		9
997	*,e	ITT Educational Services, Inc		24
2,033	*	Jack in the Box, Inc		80
649	*	Jamba, Inc		10
203	*	JTH Holding, Inc		3
1,265	*	K12, Inc		33
2,917	*	Krispy Kreme Doughnuts, Inc		51
17,902		Las Vegas Sands Corp		948
1,963	*	Life Time Fitness, Inc		98
2,787	*	LifeLock, Inc		33
870		Lincoln Educational Services Corp		5
977	*	Luby’s, Inc		8
638		Mac-Gray Corp		9
840		Marcus Corp		11

13

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
10,662		Marriott International, Inc (Class A)	$	430
1,390	*	Marriott Vacations Worldwide Corp		60
1,275		Matthews International Corp (Class A)		48
45,905		McDonald’s Corp		4,545
17,994	*	MGM Mirage		266
388	*	Monarch Casino & Resort, Inc		7
1,158	*	Morgans Hotel Group Co		9
1,276	*	Multimedia Games, Inc		33
1,315	*,e	Norwegian Cruise Line Holdings Ltd		40
4,377	*	Orient-Express Hotels Ltd (Class A)		53
1,294	*	Outerwall, Inc		76
1,258	*	Panera Bread Co (Class A)		234
717	*	Papa John’s International, Inc		47
3,077	*	Penn National Gaming, Inc		163
3,229	*	Pinnacle Entertainment, Inc		64
666	*	Red Robin Gourmet Burgers, Inc		37
2,200		Regis Corp		36
7,441		Royal Caribbean Cruises Ltd		248
3,070	*	Ruby Tuesday, Inc		28
1,588		Ruth’s Chris Steak House, Inc		19
2,868	*	Scientific Games Corp (Class A)		32
1,315		SeaWorld Entertainment, Inc		46
9,704		Service Corp International		175
2,802	*	SHFL Entertainment, Inc		50
3,014		Six Flags Entertainment Corp		106
3,411	*	Sonic Corp		50
3,133		Sotheby’s (Class A)		119
581		Speedway Motorsports, Inc		10
34,287		Starbucks Corp		2,245
8,903		Starwood Hotels & Resorts Worldwide, Inc		563
59	*	Steak N Shake Co		24
636	*	Steiner Leisure Ltd		34
3,389		Stewart Enterprises, Inc (Class A)		44
491	e	Strayer Education, Inc		24
2,872		Texas Roadhouse, Inc (Class A)		72
1,064		Town Sports International Holdings, Inc		11
1,028		Universal Technical Institute, Inc		11
1,645		Vail Resorts, Inc		101
1,296	e	Weight Watchers International, Inc		60
13,002	e	Wendy’s		76
2,067	*	WMS Industries, Inc		53
6,224		Wyndham Worldwide Corp		356
3,694		Wynn Resorts Ltd		473
20,593		Yum! Brands, Inc		1,428
		TOTAL CONSUMER SERVICES		18,097
DIVERSIFIED FINANCIALS - 6.8%
2,494	*	Affiliated Managers Group, Inc		409
14,861	*	American Capital Ltd		188
43,382		American Express Co		3,243
9,230		Ameriprise Financial, Inc		747
10,246		Apollo Investment Corp		79
10,764		Ares Capital Corp		185
584	*	Artisan Partners Asset Management, Inc		29
493,628		Bank of America Corp		6,348
53,157		Bank of New York Mellon Corp		1,491
4,832		BGC Partners, Inc (Class A)		29
3,423	e	BlackRock Kelso Capital Corp		32
5,864		BlackRock, Inc		1,506
1,288		Calamos Asset Management, Inc (Class A)		14
26,716		Capital One Financial Corp		1,678
147		Capital Southwest Corp		20

14

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,340		Cash America International, Inc	$	61
4,253		CBOE Holdings, Inc		198
49,849		Charles Schwab Corp		1,058
138,450		Citigroup, Inc		6,642
14,510		CME Group, Inc		1,103
1,086		Cohen & Steers, Inc		37
594	*	Consumer Portfolio Services, Inc		4
5,330	*	Cowen Group, Inc		15
296	*	Credit Acceptance Corp		31
118		Diamond Hill Investment Group, Inc		10
22,456		Discover Financial Services		1,070
1,850	*	Dollar Financial Corp		26
13,858	*	E*Trade Financial Corp		175
5,610		Eaton Vance Corp		211
1,165	*,e	Encore Capital Group, Inc		39
1,394		Evercore Partners, Inc (Class A)		55
2,322	*	Ezcorp, Inc (Class A)		39
673	*	FBR & Co		17
4,555	e	Federated Investors, Inc (Class B)		125
451		Fidus Investment Corp		8
5,533	*	Fifth Street Finance Corp		58
2,248		Financial Engines, Inc		103
1,340	*	First Cash Financial Services, Inc		66
3,742	*,e	First Marblehead Corp		4
374	*	Firsthand Technology Value Fund, Inc		8
6,272		Franklin Resources, Inc		853
727		Friedman Billings Ramsey Group, Inc (Class A)		19
1,682	e	FXCM, Inc		28
349		GAMCO Investors, Inc (Class A)		19
271		Garrison Capital, Inc		4
3,928		GFI Group, Inc		15
1,256		Gladstone Capital Corp		10
1,326		Gladstone Investment Corp		10
20,993		Goldman Sachs Group, Inc		3,175
674	e	Golub Capital BDC, Inc		12
1,122	*,e	Green Dot Corp		22
1,492		Greenhill & Co, Inc		68
918	*,e	GSV Capital Corp		7
471	*	Hannon Armstrong Sustainable Infrastructure Capital, Inc		6
2,227	e	Hercules Technology Growth Capital, Inc		31
1,489		HFF, Inc (Class A)		27
369		Horizon Technology Finance Corp		5
820	*	Imperial Holdings, Inc		6
3,210	*	ING US, Inc		87
2,025		Interactive Brokers Group, Inc (Class A)		32
3,377	*	IntercontinentalExchange, Inc		600
675	*	International Assets Holding Corp		12
1,945	*	Internet Capital Group, Inc		22
20,338		Invesco Ltd		647
1,857	*	Investment Technology Group, Inc		26
48,994	e	iShares Russell 3000 Index Fund		4,723
8,680	e	Janus Capital Group, Inc		74
822		JMP Group, Inc		5
173,080		JPMorgan Chase & Co		9,137
1,010	e	KCAP Financial, Inc		11
7,773	*	Knight Capital Group, Inc (Class A)		28
5,033	*	Ladenburg Thalmann Financial Services, Inc		8
5,874		Lazard Ltd (Class A)		189
5,079		Legg Mason, Inc		158
13,559		Leucadia National Corp		356
2,588		LPL Financial Holdings, Inc		98
1,604	e	Main Street Capital Corp		44

15

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
671		Manning & Napier, Inc	$	12
1,771		MarketAxess Holdings, Inc		83
418		Marlin Business Services Corp		10
3,668		MCG Capital Corp		19
872		Medallion Financial Corp		12
594		Medley Capital Corp		8
8,910		Moody’s Corp		543
69,726		Morgan Stanley		1,703
5,906	*	MSCI, Inc (Class A)		197
1,094		MVC Capital, Inc		14
5,098		Nasdaq Stock Market, Inc		167
1,077		Nelnet, Inc (Class A)		39
1,620	*,m	Netspend Holdings, Inc		26
581	e	New Mountain Finance Corp		8
959	*	NewStar Financial, Inc		13
1,181		NGP Capital Resources Co		7
489		Nicholas Financial, Inc		7
9,929		Northern Trust Corp		575
11,127		NYSE Euronext		461
448		Oppenheimer Holdings, Inc		9
455		PennantPark Floating Rate Capital Ltd		6
3,016		PennantPark Investment Corp		33
2,595	*	PHH Corp		53
1,198	*	Pico Holdings, Inc		25
935	*	Piper Jaffray Cos		30
832	*	Portfolio Recovery Associates, Inc		128
11,137	e	Prospect Capital Corp		120
5,235		Raymond James Financial, Inc		225
231	*	Regional Management Corp		6
606		Resource America, Inc (Class A)		5
1,299	*	Safeguard Scientifics, Inc		21
6,909		SEI Investments Co		196
20,350		SLM Corp		465
2,044		Solar Capital Ltd		47
375		Solar Senior Capital Ltd		7
20,918		State Street Corp		1,364
537		Stellus Capital Investment Corp		8
3,142	*	Stifel Financial Corp		112
1,726	*	SWS Group, Inc		9
11,878		T Rowe Price Group, Inc		869
1,198		TCP Capital Corp		20
10,647		TD Ameritrade Holding Corp		259
1,197		THL Credit, Inc		18
2,416	e	TICC Capital Corp		23
1,314		Triangle Capital Corp		36
265	*	Virtus Investment Partners, Inc		47
4,202		Waddell & Reed Financial, Inc (Class A)		183
1,683		Walter Investment Management Corp		57
322		Westwood Holdings Group, Inc		14
321		WhiteHorse Finance, Inc		5
4,611	*	WisdomTree Investments, Inc		53
501	*,e	World Acceptance Corp		44
		TOTAL DIVERSIFIED FINANCIALS		56,136
ENERGY - 9.4%
4,200	*,e	Abraxas Petroleum Corp		9
99		Adams Resources & Energy, Inc		7
783		Alon USA Energy, Inc		11
9,079	*	Alpha Natural Resources, Inc		48
885	*,e	Amyris Biotechnologies, Inc		3
22,964		Anadarko Petroleum Corp		1,973
17,940		Apache Corp		1,504

16

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
460	*	APCO Argentina, Inc	$	5
1,605	*,e	Approach Resources, Inc		39
9,903	e	Arch Coal, Inc		37
2,622	*	Atwood Oceanics, Inc		136
20,227		Baker Hughes, Inc		933
1,205	*,e	Basic Energy Services, Inc		15
2,406		Berry Petroleum Co (Class A)		102
2,221	*,e	Bill Barrett Corp		45
411		Bolt Technology Corp		7
1,110	*	Bonanza Creek Energy, Inc		39
4,811	*,e	BPZ Energy, Inc		9
1,671		Bristow Group, Inc		109
2,159	*,e	C&J Energy Services, Inc		42
9,652		Cabot Oil & Gas Corp		685
4,578	*,e	Cal Dive International, Inc		9
1,294	*	Callon Petroleum Co		4
11,412	*	Cameron International Corp		698
905	e	CARBO Ceramics, Inc		61
1,963	*	Carrizo Oil & Gas, Inc		56
10,928	*	Cheniere Energy, Inc		303
26,550		Chesapeake Energy Corp		541
88,807		Chevron Corp		10,509
3,956		Cimarex Energy Co		257
326	*	Clayton Williams Energy, Inc		14
3,211	*,e	Clean Energy Fuels Corp		42
2,429	*	Cloud Peak Energy, Inc		40
12,599	*	Cobalt International Energy, Inc		335
2,095		Comstock Resources, Inc		33
4,798	*	Concho Resources, Inc		402
55,989		ConocoPhillips		3,387
10,477		Consol Energy, Inc		284
582		Contango Oil & Gas Co		20
1,956	*,e	Continental Resources, Inc		168
1,064	*	Crimson Exploration, Inc		3
2,304		Crosstex Energy, Inc		46
762		CVR Energy, Inc		36
4,444	*,m	CVR Energy, Inc (Contingent value right)		0	^
378	*	Dawson Geophysical Co		14
1,604		Delek US Holdings, Inc		46
17,082	*	Denbury Resources, Inc		296
18,598	*	Devon Energy Corp		965
3,060		Diamond Offshore Drilling, Inc		210
810	*	Diamondback Energy, Inc		27
3,486	*	Dresser-Rand Group, Inc		209
1,850	*	Dril-Quip, Inc		167
1,677	*	Emerald Oil, Inc		11
1,867	*,e	Endeavour International Corp		7
3,245		Energen Corp		170
3,651		Energy XXI Bermuda Ltd		81
12,459		EOG Resources, Inc		1,641
1,505	*	EPL Oil & Gas, Inc		44
619		Equal Energy Ltd		2
6,817		Equitable Resources, Inc		541
891	*	Era Group, Inc		23
668	*	Evolution Petroleum Corp		7
5,972	e	EXCO Resources, Inc		46
2,632	*	Exterran Holdings, Inc		74
203,727	d	Exxon Mobil Corp		18,407
10,858	*	FMC Technologies, Inc		605
5,689	*	Forest Oil Corp		23
1,662	*	Forum Energy Technologies, Inc		51
2,722	*,e	Frontline Ltd		5
2,612	*,e	FX Energy, Inc		8

17

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,114		GasLog Ltd	$	14
2,282	*	Gastar Exploration Ltd		6
626	*	Geospace Technologies Corp		43
933	*,e	Global Geophysical Services, Inc		4
2,014	e	Golar LNG Ltd		64
1,342	*,e	Goodrich Petroleum Corp		17
827	*	Green Plains Renewable Energy, Inc		11
727		Gulf Island Fabrication, Inc		14
1,158		Gulfmark Offshore, Inc		52
3,550	*	Gulfport Energy Corp		167
9,527	*,e	Halcon Resources Corp		54
42,687		Halliburton Co		1,781
4,809	*	Helix Energy Solutions Group, Inc		111
4,343		Helmerich & Payne, Inc		271
6,596	*	Hercules Offshore, Inc		46
14,046		Hess Corp		934
9,293		Holly Corp		398
1,645	*	Hornbeck Offshore Services, Inc		88
6,522	*	ION Geophysical Corp		39
61	*	Isramco, Inc		6
6,174	*	Key Energy Services, Inc		37
30,324		Kinder Morgan, Inc		1,157
1,322	*,e	KiOR, Inc (Class A)		8
1,036		Knightsbridge Tankers Ltd		8
12,776	*	Kodiak Oil & Gas Corp		114
4,626	*	Kosmos Energy LLC		47
1,355	*	L&L Energy, Inc		5
1,792	*	Laredo Petroleum Holdings, Inc		37
1,590		Lufkin Industries, Inc		141
7,113	*,e	Magnum Hunter Resources Corp		26
32,303		Marathon Oil Corp		1,117
14,913		Marathon Petroleum Corp		1,060
2,194	*	Matador Resources Co		26
1,193	*	Matrix Service Co		19
10,797	*	McDermott International, Inc		88
1,188	*	Midstates Petroleum Co, Inc		6
738	*,e	Miller Petroleum, Inc		3
507	*	Mitcham Industries, Inc		9
8,774		Murphy Oil Corp		534
13,473		Nabors Industries Ltd		206
19,587		National Oilwell Varco, Inc		1,350
561	*	Natural Gas Services Group, Inc		13
6,541	*	Newfield Exploration Co		156
3,910	*	Newpark Resources, Inc		43
16,419		Noble Energy, Inc		986
2,356	e	Nordic American Tanker Shipping		18
3,091	*,e	Northern Oil And Gas, Inc		41
6,458	*,e	Nuverra Environmental Solutions, Inc		19
4,276	*	Oasis Petroleum, Inc		166
36,894		Occidental Petroleum Corp		3,292
5,264		Oceaneering International, Inc		380
2,517	*	Oil States International, Inc		233
324		Panhandle Oil and Gas, Inc (Class A)		9
5,410	*	Parker Drilling Co		27
6,713		Patterson-UTI Energy, Inc		130
1,108	e	PBF Energy, Inc		29
1,390	*	PDC Energy, Inc		72
12,370		Peabody Energy Corp		181
2,491		Penn Virginia Corp		12
2,768	*	Petroquest Energy, Inc		11
620	*	PHI, Inc		21
28,400		Phillips 66		1,673
2,681	*	Pioneer Energy Services Corp		18

18

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
6,188		Pioneer Natural Resources Co	$	896
8,195		Questar Market Resources, Inc		228
5,806	*,e	Quicksilver Resources, Inc		10
7,467		Range Resources Corp		577
970	*	Renewable Energy Group, Inc		14
3,121	*	Resolute Energy Corp		25
2,049	*	Rex Energy Corp		36
303	*	Rex Stores Corp		9
611	*	RigNet, Inc		16
2,586	*	Rosetta Resources, Inc		110
5,786	*	Rowan Cos plc		197
3,162	e	RPC, Inc		44
1,290	*,e	Sanchez Energy Corp		30
22,601	*,e	SandRidge Energy, Inc		108
61,021		Schlumberger Ltd		4,373
7,391		Scorpio Tankers, Inc		66
891		SEACOR Holdings, Inc		74
16,184	*	Seadrill Ltd		659
2,014		SemGroup Corp		108
2,365	e	Ship Finance International Ltd		35
2,191	*,e	Solazyme, Inc		26
16,101	*	Southwestern Energy Co		588
30,571		Spectra Energy Corp		1,053
2,953		St. Mary Land & Exploration Co		177
2,334	*	Stone Energy Corp		51
7,302	*	Superior Energy Services		189
2,133	*	Swift Energy Co		26
1,789	*	Synergy Resources Corp		13
1,406		Targa Resources Investments, Inc		90
1,746	e	Teekay Corp		71
2,124	e	Teekay Tankers Ltd (Class A)		6
1,600	*	Tesco Corp		21
6,251		Tesoro Corp		327
3,896	*	Tetra Technologies, Inc		40
732		TGC Industries, Inc		6
2,198		Tidewater, Inc		125
2,211	*	Triangle Petroleum Corp		15
7,062	*,e	Ultra Petroleum Corp		140
2,246	*	Unit Corp		96
2,636	*,e	Uranium Energy Corp		5
5,684	*	Ur-Energy, Inc		8
2,578	*	Vaalco Energy, Inc		15
25,020		Valero Energy Corp		870
9,477	*	Vantage Drilling Co		19
1,693		W&T Offshore, Inc		24
3,436	*	Warren Resources, Inc		9
2,492	e	Western Refining, Inc		70
510	*	Westmoreland Coal Co		6
5,396	*	Whiting Petroleum Corp		249
2,126	*	Willbros Group, Inc		13
31,596		Williams Cos, Inc		1,026
3,501		World Fuel Services Corp		140
9,159	*	WPX Energy, Inc		173
1,256	*,e	ZaZa Energy Corp		1
		TOTAL ENERGY		77,637
FOOD & STAPLES RETAILING - 2.0%
856		Andersons, Inc		45
66		Arden Group, Inc (Class A)		7
1,705		Casey’s General Stores, Inc		103
521	*	Chefs’ Warehouse Holdings, Inc		9
19,980		Costco Wholesale Corp		2,209

19

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
56,065		CVS Corp	$	3,206
715	*	Fairway Group Holdings Corp		17
1,879	*	Fresh Market, Inc		93
1,944		Harris Teeter Supermarkets, Inc		91
700		Ingles Markets, Inc (Class A)		18
23,822		Kroger Co		823
656		Nash Finch Co		14
345	*	Natural Grocers by Vitamin C		11
1,214	*	Pantry, Inc		15
882		Pricesmart, Inc		77
33,174	*,e	Rite Aid Corp		95
1,140	e	Roundy’s, Inc		9
10,909		Safeway, Inc		258
1,022		Spartan Stores, Inc		19
9,250	*,e	Supervalu, Inc		58
831	*	Susser Holdings Corp		40
27,176		Sysco Corp		928
2,264	*	United Natural Foods, Inc		122
292		Village Super Market (Class A)		10
43,385		Walgreen Co		1,918
73,738		Wal-Mart Stores, Inc		5,493
145		Weis Markets, Inc		7
16,986		Whole Foods Market, Inc		874
		TOTAL FOOD & STAPLES RETAILING		16,569
FOOD, BEVERAGE & TOBACCO - 5.0%
136		Alico, Inc		5
3,943	*	Alliance One International, Inc		15
91,967		Altria Group, Inc		3,218
443	*,e	Annie’s, Inc		19
30,170		Archer Daniels Midland Co		1,023
2,348		B&G Foods, Inc (Class A)		80
7,363		Beam, Inc		465
387	*,e	Boston Beer Co, Inc (Class A)		66
2,588	*,e	Boulder Brands, Inc		31
6,911		Brown-Forman Corp (Class B)		467
6,740		Bunge Ltd		477
555	e	Calavo Growers, Inc		15
682		Cal-Maine Foods, Inc		32
8,041		Campbell Soup Co		360
2,584	*	Chiquita Brands International, Inc		28
263		Coca-Cola Bottling Co Consolidated		16
175,144		Coca-Cola Co		7,025
12,555		Coca-Cola Enterprises, Inc		441
19,097		ConAgra Foods, Inc		667
6,907	*	Constellation Brands, Inc (Class A)		360
5,403	*	Darling International, Inc		101
8,758	*	Dean Foods Co		88
1,154	*,e	Diamond Foods, Inc		24
2,337	*	Dole Food Co, Inc		30
9,345		Dr Pepper Snapple Group, Inc		429
288	*	Farmer Bros Co		4
7,843		Flowers Foods, Inc		173
1,850		Fresh Del Monte Produce, Inc		52
29,521		General Mills, Inc		1,433
6,766	*,e	Green Mountain Coffee Roasters, Inc		508
149		Griffin Land & Nurseries, Inc (Class A)		4
1,798	*	Hain Celestial Group, Inc		117
6,867		Hershey Co		613
5,722		Hillshire Brands Co		189
6,132		Hormel Foods Corp		237
3,512		Ingredion, Inc		230

20

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
599		J&J Snack Foods Corp	$	47
4,911		J.M. Smucker Co		507
368		John B. Sanfilippo & Son, Inc		7
11,570		Kellogg Co		743
27,175		Kraft Foods Group, Inc		1,518
818		Lancaster Colony Corp		64
2,170		Lance, Inc		62
179		Lifeway Foods, Inc		3
443		Limoneira Co		9
17,289		Lorillard, Inc		755
5,953		McCormick & Co, Inc		419
9,276		Mead Johnson Nutrition Co		735
6,394		Molson Coors Brewing Co (Class B)		306
81,711		Mondelez International, Inc		2,331
6,326	*	Monster Beverage Corp		384
621		National Beverage Corp		11
996	*	Omega Protein Corp		9
70,807		PepsiCo, Inc		5,791
74,892		Philip Morris International, Inc		6,487
2,936	*	Pilgrim’s Pride Corp		44
1,527		Pinnacle Foods, Inc		37
1,328	*	Post Holdings, Inc		58
14,430		Reynolds American, Inc		698
1,050		Sanderson Farms, Inc		70
13		Seaboard Corp		35
365	*	Seneca Foods Corp		11
6,356	*	Smithfield Foods, Inc		208
889	*,e	Synutra International, Inc		4
906	e	Tootsie Roll Industries, Inc		29
1,662	*	TreeHouse Foods, Inc		109
12,816		Tyson Foods, Inc (Class A)		329
1,067	e	Universal Corp		62
2,639	e	Vector Group Ltd		43
5,778	*,e	WhiteWave Foods Co (Class A)		94
		TOTAL FOOD, BEVERAGE & TOBACCO		41,061
HEALTH CARE EQUIPMENT & SERVICES - 4.5%
1,018		Abaxis, Inc		48
71,373		Abbott Laboratories		2,489
1,811	*,e	Abiomed, Inc		39
1,625	*	Acadia Healthcare Co, Inc		54
2,682	*,e	Accretive Health, Inc		29
3,073	*,e	Accuray, Inc		18
255	*	Addus HomeCare Corp		5
17,322		Aetna, Inc		1,101
1,872	e	Air Methods Corp		63
3,481	*	Align Technology, Inc		129
253	*	Alliance HealthCare Services, Inc		4
8,310	*	Allscripts Healthcare Solutions, Inc		108
380		Almost Family, Inc		7
2,729	*	Alphatec Holdings, Inc		6
1,533	*	Amedisys, Inc		18
11,110		AmerisourceBergen Corp		620
2,008	*	AMN Healthcare Services, Inc		29
1,528	*	Amsurg Corp		54
558		Analogic Corp		41
1,310	*	Angiodynamics, Inc		15
566	*	Anika Therapeutics, Inc		10
5,177	*,e	Antares Pharma, Inc		22
1,336	*	Arthrocare Corp		46
1,106		Assisted Living Concepts, Inc (A Shares)		13
1,737	*,e	athenahealth, Inc		147

21

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
716	*	AtriCure, Inc	$	7
86		Atrion Corp		19
3,851		Bard (C.R.), Inc		419
24,821		Baxter International, Inc		1,719
8,892		Becton Dickinson & Co		879
1,359	*	Biolase Technology, Inc		5
1,119	*,e	Bio-Reference Labs, Inc		32
2,663	*	BioScrip, Inc		44
61,768	*	Boston Scientific Corp		573
4,539	*	Brookdale Senior Living, Inc		120
1,066		Cantel Medical Corp		36
1,396	*	Capital Senior Living Corp		33
15,651		Cardinal Health, Inc		739
977	*	Cardiovascular Systems, Inc		21
10,058	*	CareFusion Corp		371
9,620	*	Catamaran Corp		469
2,518	*	Centene Corp		132
6,794	*	Cerner Corp		653
3,181	*,e	Cerus Corp		14
859	e	Chemed Corp		62
671	*	Chindex International, Inc		11
13,063		Cigna Corp		947
4,283		Community Health Systems, Inc		201
590		Computer Programs & Systems, Inc		29
1,595		Conmed Corp		50
2,129		Cooper Cos, Inc		253
934	*	Corvel Corp		27
21,541		Covidien plc		1,354
1,273	*	Cross Country Healthcare, Inc		7
1,413		CryoLife, Inc		9
640	*	Cutera, Inc		6
1,243	*	Cyberonics, Inc		65
796	*	Cynosure, Inc (Class A)		21
4,216	*	DaVita, Inc		509
6,571		Dentsply International, Inc		269
611	*	Derma Sciences, Inc		8
3,382	*	DexCom, Inc		76
5,364	*	Edwards Lifesciences Corp		360
1,829	*	Emeritus Corp		42
2,887	*	Endologix, Inc		38
895		Ensign Group, Inc		31
408	*	Exactech, Inc		8
1,376	*	ExamWorks Group, Inc		29
37,488	*	Express Scripts Holding Co		2,313
1,637	*	Five Star Quality Care, Inc		9
1,359	*	GenMark Diagnostics, Inc		14
1,497	*	Gentiva Health Services, Inc		15
1,923	*	Globus Medical, Inc		32
1,091	*	Greatbatch, Inc		36
395	*,e	Greenway Medical Technologies		5
2,338	*	Haemonetics Corp		97
1,683	*	Hanger Orthopedic Group, Inc		53
12,251		HCA Holdings, Inc		442
12,404	*	Health Management Associates, Inc (Class A)		195
3,620	*	Health Net, Inc		115
4,003	*	Healthsouth Corp		115
797	*	HealthStream, Inc		20
1,788	*	Healthways, Inc		31
752	*,e	HeartWare International, Inc		71
3,991	*	Henry Schein, Inc		382
2,734		Hill-Rom Holdings, Inc		92
4,287	*	HMS Holdings Corp		100
12,260	*	Hologic, Inc		237

22

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
7,211		Humana, Inc	$	608
604	*	ICU Medical, Inc		44
2,544	*	Idexx Laboratories, Inc		228
2,452	*	Insulet Corp		77
1,114	*	Integra LifeSciences Holdings Corp		41
1,838	*	Intuitive Surgical, Inc		931
1,548		Invacare Corp		22
4,017	*	Inverness Medical Innovations, Inc		98
769	*	IPC The Hospitalist Co, Inc		39
2,539	*	Kindred Healthcare, Inc		33
4,251	*	Laboratory Corp of America Holdings		426
498		Landauer, Inc		24
735	*	LHC Group, Inc		14
2,226	*	LifePoint Hospitals, Inc		109
1,235	*	Magellan Health Services, Inc		69
1,958	*,e	MAKO Surgical Corp		24
2,657		Masimo Corp		56
10,376		McKesson Corp		1,188
2,778	*	MedAssets, Inc		49
655	*	Medical Action Industries, Inc		5
1,217	*	Medidata Solutions, Inc		94
46,524		Medtronic, Inc		2,395
2,504	*	Merge Healthcare, Inc		9
1,883	e	Meridian Bioscience, Inc		40
1,836	*	Merit Medical Systems, Inc		20
1,450	*	Molina Healthcare, Inc		54
620	*	MWI Veterinary Supply, Inc		76
516		National Healthcare Corp		25
357	*	National Research Corp		6
1,662	*	Natus Medical, Inc		23
1,314	*	Neogen Corp		73
4,406	*,e	Neoprobe Corp		12
2,136	*	NuVasive, Inc		53
2,725	*	NxStage Medical, Inc		39
4,802		Omnicare, Inc		229
1,729	*	Omnicell, Inc		36
2,901	*	OraSure Technologies, Inc		11
1,010	*	Orthofix International NV		27
2,906	e	Owens & Minor, Inc		98
4,009		Patterson Cos, Inc		151
2,303	*	Pediatrix Medical Group, Inc		211
1,348	*	PharMerica Corp		19
626	*,e	PhotoMedex, Inc		10
495	*	Providence Service Corp		14
1,960		Quality Systems, Inc		37
7,234		Quest Diagnostics, Inc		439
1,220	*,e	Quidel Corp		31
6,520	e	Resmed, Inc		294
490	*	Rochester Medical Corp		7
1,891	*	Rockwell Medical Technologies, Inc		7
3,216	*	RTI Biologics, Inc		12
2,500		Select Medical Holdings Corp		20
2,518	*	Sirona Dental Systems, Inc		166
973	*	Skilled Healthcare Group, Inc (Class A)		6
3,016	*	Solta Medical, Inc		7
1,958	*	Spectranetics Corp		37
12,746		St. Jude Medical, Inc		582
1,741	*	Staar Surgical Co		18
2,595		STERIS Corp		111
14,382		Stryker Corp		930
900	*	SurModics, Inc		18
1,974	*	Symmetry Medical, Inc		17
3,153	*	Team Health Holdings, Inc		129

23

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,197	*	TearLab Corp	$	13
1,782		Teleflex, Inc		138
4,726	*	Tenet Healthcare Corp		218
2,569	*	Thoratec Corp		80
1,214	*	Tornier BV		21
463	*	Triple-S Management Corp (Class B)		10
3,641	*,e	Unilife Corp		12
46,703		UnitedHealth Group, Inc		3,058
1,661		Universal American Corp		15
4,061		Universal Health Services, Inc (Class B)		272
549		US Physical Therapy, Inc		15
149		Utah Medical Products, Inc		8
1,585	*	Vanguard Health Systems, Inc		33
4,964	*	Varian Medical Systems, Inc		335
937	*	Vascular Solutions, Inc		14
3,661	*	VCA Antech, Inc		95
960	*	Vocera Communications, Inc		14
2,758	*	Volcano Corp		50
1,994	*	WellCare Health Plans, Inc		111
13,751		WellPoint, Inc		1,125
1,588		West Pharmaceutical Services, Inc		112
2,200	*	Wright Medical Group, Inc		58
821	*,e	Zeltiq Aesthetics, Inc		5
7,709		Zimmer Holdings, Inc		578
		TOTAL HEALTH CARE EQUIPMENT & SERVICES		37,254
HOUSEHOLD & PERSONAL PRODUCTS - 2.0%
19,842		Avon Products, Inc		417
1,891	*	Central Garden and Pet Co (Class A)		13
6,333		Church & Dwight Co, Inc		391
5,984		Clorox Co		497
42,857		Colgate-Palmolive Co		2,455
1,181	*	Elizabeth Arden, Inc		53
2,852		Energizer Holdings, Inc		287
10,601		Estee Lauder Cos (Class A)		697
867		Female Health Co		9
262	*	Harbinger Group, Inc		2
4,211	e	Herbalife Ltd		190
735		Inter Parfums, Inc		21
17,613		Kimberly-Clark Corp		1,711
5,295	*	Lifevantage Corp		12
721	*	Medifast, Inc		19
537		Nature’s Sunshine Products, Inc		9
2,633		Nu Skin Enterprises, Inc (Class A)		161
602		Nutraceutical International Corp		12
255		Oil-Dri Corp of America		7
289		Orchids Paper Products Co		8
2,523	*	Prestige Brands Holdings, Inc		74
125,652		Procter & Gamble Co		9,674
575	*	Revlon, Inc (Class A)		13
990		Spectrum Brands, Inc		56
5,814	*,e	Star Scientific, Inc		8
312	*,e	USANA Health Sciences, Inc		23
704		WD-40 Co		38
		TOTAL HOUSEHOLD & PERSONAL PRODUCTS		16,857
INSURANCE - 4.3%
15,518		ACE Ltd		1,389
21,354		Aflac, Inc		1,241
772	*	Alleghany Corp		296
1,767		Allied World Assurance Co Holdings Ltd		162
21,468		Allstate Corp		1,033

24

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
220	*	AMBAC Financial Group, Inc	$	5
3,620		American Equity Investment Life Holding Co		57
3,560		American Financial Group, Inc		174
67,403	*	American International Group, Inc		3,013
355		American National Insurance Co		35
447	*	American Safety Insurance Holdings Ltd		13
915		Amerisafe, Inc		30
1,319	e	Amtrust Financial Services, Inc		47
14,152		Aon plc		911
6,213	*	Arch Capital Group Ltd		319
1,367		Argo Group International Holdings Ltd		58
5,795		Arthur J. Gallagher & Co		253
3,124		Aspen Insurance Holdings Ltd		116
3,641		Assurant, Inc		185
7,819		Assured Guaranty Ltd		173
4,657		Axis Capital Holdings Ltd		213
422		Baldwin & Lyons, Inc (Class B)		10
82,406	*	Berkshire Hathaway, Inc (Class B)		9,223
5,834		Brown & Brown, Inc		188
12,079		Chubb Corp		1,023
6,937		Cincinnati Financial Corp		318
2,162	*,e	Citizens, Inc (Class A)		13
1,391		CNA Financial Corp		45
11,225		Conseco, Inc		145
1,190		Crawford & Co (Class B)		7
406		Donegal Group, Inc (Class A)		6
309		Eastern Insurance Holdings, Inc		6
844	*	eHealth, Inc		19
168		EMC Insurance Group, Inc		4
1,647		Employers Holdings, Inc		40
1,980		Endurance Specialty Holdings Ltd		102
413	*	Enstar Group Ltd		55
1,205		Erie Indemnity Co (Class A)		96
2,291		Everest Re Group Ltd		294
441		FBL Financial Group, Inc (Class A)		19
10,562		Fidelity National Title Group, Inc (Class A)		251
4,970		First American Financial Corp		110
23,572	*	Genworth Financial, Inc (Class A)		269
1,299	*	Greenlight Capital Re Ltd (Class A)		32
368	*	Hallmark Financial Services		3
2,022		Hanover Insurance Group, Inc		99
20,670		Hartford Financial Services Group, Inc		639
4,524		HCC Insurance Holdings, Inc		195
366		HCI Group, Inc		11
2,683	*	Hilltop Holdings, Inc		44
1,816		Horace Mann Educators Corp		44
392		Independence Holding Co		5
632		Infinity Property & Casualty Corp		38
18		Investors Title Co		1
212		Kansas City Life Insurance Co		8
2,516		Kemper Corp		86
13,254		Lincoln National Corp		483
14,433		Loews Corp		641
2,294		Maiden Holdings Ltd		26
632	*	Markel Corp		333
25,244		Marsh & McLennan Cos, Inc		1,008
6,479	*,e	MBIA, Inc		86
2,307		Meadowbrook Insurance Group, Inc		19
1,373		Mercury General Corp		60
39,619		Metlife, Inc		1,813
2,117		Montpelier Re Holdings Ltd		53
2,320	*	National Financial Partners Corp		59
224		National Interstate Corp		7

25

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
106		National Western Life Insurance Co (Class A)	$	20
470	*	Navigators Group, Inc		27
12,542		Old Republic International Corp		161
1,061		OneBeacon Insurance Group Ltd (Class A)		15
2,740		PartnerRe Ltd		248
272	*	Phoenix Cos, Inc		12
1,520		Platinum Underwriters Holdings Ltd		87
2,608		Primerica, Inc		98
13,440		Principal Financial Group		503
2,826		ProAssurance Corp		147
27,785		Progressive Corp		706
3,883		Protective Life Corp		149
21,252		Prudential Financial, Inc		1,552
3,326		Reinsurance Group of America, Inc (Class A)		230
2,166		RenaissanceRe Holdings Ltd		188
972		RLI Corp		74
678		Safety Insurance Group, Inc		33
2,700		Selective Insurance Group, Inc		62
2,034		Stancorp Financial Group, Inc		101
913		State Auto Financial Corp		17
1,090		Stewart Information Services Corp		29
3,790		Symetra Financial Corp		61
4,327		Torchmark Corp		282
2,111		Tower Group International Ltd		43
17,405		Travelers Cos, Inc		1,391
417	*	United America Indemnity Ltd		10
1,337		United Fire & Casualty Co		33
1,340		Universal Insurance Holdings, Inc		10
12,588		UnumProvident Corp		370
4,375		Validus Holdings Ltd		158
5,001		W.R. Berkley Corp		204
283		White Mountains Insurance Group Ltd		163
13,437		XL Capital Ltd		407
		TOTAL INSURANCE		35,350
MATERIALS - 3.6%
1,430		A. Schulman, Inc		38
428	*	ADA-ES, Inc		18
226	*	AEP Industries, Inc		17
9,544		Air Products & Chemicals, Inc		874
2,996		Airgas, Inc		286
5,809	*,e	AK Steel Holding Corp		18
4,028		Albemarle Corp		251
48,991		Alcoa, Inc		383
5,011		Allegheny Technologies, Inc		132
4,499	*	Allied Nevada Gold Corp		29
1,252		AMCOL International Corp		40
94	*	American Pacific Corp		3
1,339		American Vanguard Corp		31
3,092		Aptargroup, Inc		171
970	*	Arabian American Development Co		8
3,647		Ashland, Inc		305
3,223		Axiall Corp		137
1,365		Balchem Corp		61
6,811		Ball Corp		283
4,708		Bemis Co, Inc		184
2,317	*	Berry Plastics Group, Inc		51
559	*	Boise Cascade Co		14
4,633		Boise, Inc		40
986		Brush Engineered Materials, Inc		27
1,757		Buckeye Technologies, Inc		65
2,920		Cabot Corp		109
2,460	*	Calgon Carbon Corp		41

26

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,161		Carpenter Technology Corp	$	97
799	*,e	Castle (A.M.) & Co		13
7,145		Celanese Corp (Series A)		320
2,103	*	Century Aluminum Co		20
2,714		CF Industries Holdings, Inc		465
340		Chase Corp		8
4,115	*	Chemtura		84
1,060	*	Clearwater Paper Corp		50
6,967	e	Cliffs Natural Resources, Inc		113
4,249	*	Coeur d’Alene Mines Corp		57
5,382		Commercial Metals Co		79
1,529		Compass Minerals International, Inc		129
6,593	*	Crown Holdings, Inc		271
1,920		Cytec Industries, Inc		141
507		Deltic Timber Corp		29
1,514		Domtar Corp		101
55,391		Dow Chemical Co		1,782
42,145		Du Pont (E.I.) de Nemours & Co		2,213
2,311		Eagle Materials, Inc		153
7,092		Eastman Chemical Co		497
12,009		Ecolab, Inc		1,023
3,191	*	Ferro Corp		22
2,562	*	Flotek Industries, Inc		46
6,234		FMC Corp		381
47,357		Freeport-McMoRan Copper & Gold, Inc (Class B)		1,308
954		FutureFuel Corp		14
2,908	*,e	General Moly, Inc		5
2,058		Glatfelter		52
2,943		Globe Specialty Metals, Inc		32
1,426	e	Gold Resource Corp		12
9,370	*	Graphic Packaging Holding Co		73
1,531		Greif, Inc (Class A)		81
2,306		H.B. Fuller Co		87
459		Hawkins, Inc		18
501		Haynes International, Inc		24
3,320	*	Headwaters, Inc		29
14,157	e	Hecla Mining Co		42
2,056	*	Horsehead Holding Corp		26
8,503		Huntsman Corp		141
1,000		Innophos Holdings, Inc		47
1,128		Innospec, Inc		45
3,724		International Flavors & Fragrances, Inc		280
20,363		International Paper Co		902
2,641	e	Intrepid Potash, Inc		50
804		Kaiser Aluminum Corp		50
1,872		Kapstone Paper and Packaging Corp		75
329		KMG Chemicals, Inc		7
952		Koppers Holdings, Inc		36
1,610	*	Kraton Polymers LLC		34
1,114	e	Kronos Worldwide, Inc		18
1,289	*	Landec Corp		17
6,361	*	Louisiana-Pacific Corp		94
901	*	LSB Industries, Inc		27
18,492		LyondellBasell Industries AF S.C.A		1,225
2,108		Martin Marietta Materials, Inc		207
8,015		MeadWestvaco Corp		273
3,984	*,e	Midway Gold Corp		4
1,603		Minerals Technologies, Inc		66
5,699	*,e	Molycorp, Inc		35
24,442		Monsanto Co		2,415
13,763		Mosaic Co		741
1,307		Myers Industries, Inc		20
743		Neenah Paper, Inc		24

27

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
426		NewMarket Corp	$	112
22,710		Newmont Mining Corp		680
1,121		Noranda Aluminium Holding Corp		4
14,897		Nucor Corp		645
3,679		Olin Corp		88
529		Olympic Steel, Inc		13
1,452	*	OM Group, Inc		45
2,250	*	Omnova Solutions, Inc		18
7,590	*	Owens-Illinois, Inc		211
4,498		Packaging Corp of America		220
5,999	*,e	Paramount Gold and Silver Corp		7
4,551		PolyOne Corp		113
6,532		PPG Industries, Inc		956
13,540		Praxair, Inc		1,559
610		Quaker Chemical Corp		38
3,513		Reliance Steel & Aluminum Co		230
11,466		Rentech, Inc		24
2,728	*,e	Resolute Forest Products		36
3,241		Rock-Tenn Co (Class A)		324
3,377		Rockwood Holdings, Inc		216
2,938		Royal Gold, Inc		124
6,079		RPM International, Inc		194
1,496	*	RTI International Metals, Inc		41
1,183		Schnitzer Steel Industries, Inc (Class A)		28
1,432		Schweitzer-Mauduit International, Inc		71
2,024	e	Scotts Miracle-Gro Co (Class A)		98
8,564		Sealed Air Corp		205
2,061		Sensient Technologies Corp		83
4,071		Sherwin-Williams Co		719
5,468		Sigma-Aldrich Corp		439
2,060		Silgan Holdings, Inc		97
4,578		Sonoco Products Co		158
7,399		Southern Copper Corp (NY)		204
10,230		Steel Dynamics, Inc		153
834		Stepan Co		46
5,644	*,e	Stillwater Mining Co		61
2,967	*	SunCoke Energy, Inc		42
3,933	*	Tahoe Resources, Inc		56
557	*	Taminco Corp		11
1,000	*,e	Texas Industries, Inc		65
1,164		Tredegar Corp		30
260	*	UFP Technologies, Inc		5
66	*	United States Lime & Minerals, Inc		3
6,590	e	United States Steel Corp		116
391	*	Universal Stainless & Alloy		12
482	*	US Concrete, Inc		8
910	e	US Silica Holdings Inc		19
4,083		Valspar Corp		264
5,949		Vulcan Materials Co		288
2,588	e	Walter Energy, Inc		27
2,354		Wausau Paper Corp		27
893		Westlake Chemical Corp		86
297	*	WHX Corp		5
2,539		Worthington Industries, Inc		81
3,473	*	WR Grace & Co		292
1,145		Zep, Inc		18
1,261	*,e	Zoltek Cos, Inc		16
		TOTAL MATERIALS		30,077
MEDIA - 3.7%
176	*	AH Belo Corp (Class A)		1
2,757	*	AMC Networks, Inc		180
1,414		Arbitron, Inc		66

28

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,724		Belo (A.H.) Corp (Class A)	$	66
10,225		Cablevision Systems Corp (Class A)		172
852	*	Carmike Cinemas, Inc		16
28,098		CBS Corp (Class B)		1,373
3,461	*	Central European Media Enterprises Ltd (Class A) Nasdaq		11
2,939	*	Charter Communications, Inc		364
5,283		Cinemark Holdings, Inc		148
2,051		Clear Channel Outdoor Holdings, Inc (Class A)		15
120,203		Comcast Corp (Class A)		5,034
1,802	*,e	Crown Media Holdings, Inc (Class A)		4
3,368	*,e	Cumulus Media, Inc (Class A)		11
764	*	Dex Media, Inc		13
1,322	*,e	Digital Generation, Inc		10
23,912	*	DIRECTV		1,473
11,137	*	Discovery Communications, Inc (Class A)		860
9,552		DISH Network Corp (Class A)		406
3,294	*,e	DreamWorks Animation SKG, Inc (Class A)		85
1,252	*	Entercom Communications Corp (Class A)		12
2,637		Entravision Communications Corp (Class A)		16
1,412	*	EW Scripps Co (Class A)		22
354		Fisher Communications, Inc		15
10,481		Gannett Co, Inc		256
629	*	Global Sources Ltd		4
1,978	*	Gray Television, Inc		14
2,075		Harte-Hanks, Inc		18
408	*	Hemisphere Media Group, Inc		6
19,644		Interpublic Group of Cos, Inc		286
1,843		John Wiley & Sons, Inc (Class A)		74
2,807	*	Journal Communications, Inc (Class A)		21
3,750	*	Lamar Advertising Co (Class A)		163
17,711	*	Liberty Global plc (Class A)		1,312
4,623	*	Liberty Media Corp		586
1,294	*	Lin TV Corp (Class A)		20
3,701	*,e	Lions Gate Entertainment Corp		102
7,613	*	Live Nation, Inc		118
546		Loral Space & Communications, Inc		33
2,794	*	Madison Square Garden, Inc		166
1,522	e	Martha Stewart Living Omnimedia, Inc (Class A)		4
3,219	*,e	McClatchy Co (Class A)		7
12,558		McGraw-Hill Cos, Inc		668
1,288		MDC Partners, Inc		23
939	*	Media General, Inc (Class A)		10
1,642	e	Meredith Corp		78
949		Morningstar, Inc		74
2,714		National CineMedia, Inc		46
1,764	*	Navarre Corp		5
6,951	*	New York Times Co (Class A)		77
91,011		News Corp (Class A)		2,967
1,355		Nexstar Broadcasting Group, Inc (Class A)		48
11,764		Omnicom Group, Inc		740
490	*,e	ReachLocal, Inc		6
787	*	Reading International, Inc		5
4,340	e	Regal Entertainment Group (Class A)		78
475	*	Rentrak Corp		10
216		Saga Communications, Inc		10
1,212		Scholastic Corp		35
5,006		Scripps Networks Interactive (Class A)		334
2,960		Sinclair Broadcast Group, Inc (Class A)		87
141,453		Sirius XM Radio, Inc		474
5,113	*	Starz-Liberty Capital		113
17,108		Thomson Corp		557
13,325		Time Warner Cable, Inc		1,499
42,679		Time Warner, Inc		2,468

29

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,770	e	Valassis Communications, Inc	$	44
22,211		Viacom, Inc (Class B)		1,511
82,464		Walt Disney Co		5,207
170		Washington Post Co (Class B)		82
1,281	e	World Wrestling Entertainment, Inc (Class A)		13
		TOTAL MEDIA		30,832
PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 7.8%
72,574		AbbVie, Inc		3,000
3,224	*	Acadia Pharmaceuticals, Inc		59
528	*	Accelerate Diagnostics, Inc		4
961	*	AcelRx Pharmaceuticals, Inc		9
4,428	*	Achillion Pharmaceuticals, Inc		36
1,860	*	Acorda Therapeutics, Inc		61
5,862	*	Actavis, Inc		740
1,318	*	Aegerion Pharmaceuticals, Inc		84
3,307	*,e	Affymetrix, Inc		15
15,782		Agilent Technologies, Inc		675
2,860	*	Akorn, Inc		39
1,060	*	Albany Molecular Research, Inc		13
8,985	*	Alexion Pharmaceuticals, Inc		829
818	*	Alimera Sciences, Inc		4
5,915	*	Alkermes plc		170
13,569		Allergan, Inc		1,143
2,667	*	Alnylam Pharmaceuticals, Inc		83
1,109	*	AMAG Pharmaceuticals, Inc		25
34,416		Amgen, Inc		3,395
1,454	*,e	Amicus Therapeutics, Inc		3
1,022	*,e	Ampio Pharmaceuticals, Inc		6
1,178	*	Anacor Pharmaceuticals, Inc		7
9,609	*,e	Arena Pharmaceuticals, Inc		74
8,451	*	Ariad Pharmaceuticals, Inc		148
2,640	*	Arqule, Inc		6
5,359	*	Array Biopharma, Inc		24
4,424	*	Astex Pharmaceuticals		18
2,455	*	Auxilium Pharmaceuticals, Inc		41
6,354	*,e	AVANIR Pharmaceuticals, Inc		29
1,870	*	AVEO Pharmaceuticals, Inc		5
1,429	*	BioDelivery Sciences International, Inc		6
10,922	*	Biogen Idec, Inc		2,350
6,368	*	BioMarin Pharmaceuticals, Inc		355
935	*	Bio-Rad Laboratories, Inc (Class A)		105
1,108	*,e	Biotime, Inc		4
75,218		Bristol-Myers Squibb Co		3,362
5,008	*	Bruker BioSciences Corp		81
2,842	*	Cadence Pharmaceuticals, Inc		19
1,384	*	Cambrex Corp		19
19,115	*	Celgene Corp		2,235
4,964	*	Cell Therapeutics, Inc		5
3,687	*	Celldex Therapeutics, Inc		58
663	*	Cempra, Inc		5
3,195	*	Cepheid, Inc		110
2,363	*	Charles River Laboratories International, Inc		97
2,717	*	Chelsea Therapeutics International, Inc		6
1,103	*	ChemoCentryx, Inc		16
373	*	Chimerix, Inc		9
669	*	Clovis Oncology, Inc		45
1,326	*,e	Corcept Therapeutics, Inc		2
318	*	Cornerstone Therapeutics, Inc		3
992	*	Coronado Biosciences, Inc		9
2,467	*	Covance, Inc		188
3,018	*	Cubist Pharmaceuticals, Inc		146

30

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,574	*,e	Curis, Inc	$	11
1,140	*	Cytokinetics, Inc		13
2,389	*	Cytori Therapeutics, Inc		6
7,690	*,e	Dendreon Corp		32
2,984	*	Depomed, Inc		17
587	*	Durata Therapeutics, Inc		4
4,970	*	Dyax Corp		17
5,402	*,e	Dynavax Technologies Corp		6
45,394		Eli Lilly & Co		2,230
1,234	*	Emergent Biosolutions, Inc		18
5,489	*	Endo Pharmaceuticals Holdings, Inc		202
1,449	*	Endocyte, Inc		19
2,632		Enzon Pharmaceuticals, Inc		5
270	*	Epizyme, Inc		8
2,928	*	Exact Sciences Corp		41
8,337	*,e	Exelixis, Inc		38
791	*	Fibrocell Science, Inc		5
989	*	Fluidigm Corp		17
12,210	*,m	Forest Laboratories, Inc		501
512	*	Furiex Pharmaceuticals Inc		17
3,544	*	Galena Biopharma, Inc		8
810	*	Genomic Health, Inc		26
6,445	*,e	Geron Corp		10
69,946	*	Gilead Sciences, Inc		3,582
971	*	GTx, Inc		6
3,942	*,e	Halozyme Therapeutics, Inc		31
1,104	*	Harvard Bioscience, Inc		5
458		Hi-Tech Pharmacal Co, Inc		15
1,073	*,e	Horizon Pharma, Inc		3
7,573	*	Hospira, Inc		290
400	*	Hyperion Therapeutics, Inc		9
3,653	*,e	Idenix Pharmaceuticals, Inc		13
5,845	*,e	Illumina, Inc		437
3,866	*,e	Immunogen, Inc		64
3,543	*,e	Immunomedics, Inc		19
3,148	*	Impax Laboratories, Inc		63
4,807	*,e	Incyte Corp		106
2,197	*,e	Infinity Pharmaceuticals, Inc		36
1,280	*	Insmed, Inc		15
287	*	Intercept Pharmaceuticals, Inc		13
3,671	*,e	InterMune, Inc		35
4,298	*,e	Ironwood Pharmaceuticals, Inc		43
5,202	*,e	Isis Pharmaceuticals, Inc		140
2,378	*	Jazz Pharmaceuticals plc		163
128,179		Johnson & Johnson		11,005
3,747	*,e	Keryx Biopharmaceuticals, Inc		28
464	*	KYTHERA Biopharmaceuticals, Inc		13
832	*	Lannett Co, Inc		10
10,577	*	Lexicon Pharmaceuticals, Inc		23
7,883	*	Life Technologies Corp		583
925	*	Ligand Pharmaceuticals, Inc (Class B)		35
1,879	*	Luminex Corp		39
6,779	*,e	MannKind Corp		44
2,495	*	Medicines Co		77
3,431	*	Medivation, Inc		169
138,276		Merck & Co, Inc		6,423
4,183	*,e	Merrimack Pharmaceuticals, Inc		28
1,402	*	Mettler-Toledo International, Inc		282
3,906	*	MiMedx Group, Inc		28
2,284	*	Momenta Pharmaceuticals, Inc		34
17,444	*	Mylan Laboratories, Inc		541
3,772	*	Myriad Genetics, Inc		101
1,925	*	Nanosphere, Inc		6

31

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,532	*	Nektar Therapeutics	$	64
1,429	*	NeoGenomics, Inc		6
3,256	*	Neurocrine Biosciences, Inc		44
629	*,e	NewLink Genetics Corp		12
6,093	*	Novavax, Inc		13
4,453	*	NPS Pharmaceuticals, Inc		67
1,112	*,e	Omeros Corp		6
244	*	Omthera Pharmaceuticals, Inc		3
511	*,e	OncoGenex Pharmaceutical, Inc		5
3,332	*	Onyx Pharmaceuticals, Inc		289
6,523	*,e	Opko Health, Inc		46
2,242	*,e	Optimer Pharmaceuticals, Inc		32
4,355	*,e	Orexigen Therapeutics, Inc		25
807	*,e	Osiris Therapeutics, Inc		8
397	*	OvaScience, Inc		5
1,723	*	Pacific Biosciences of California, Inc		4
1,271	*	Pacira Pharmaceuticals, Inc		37
2,734	*	Parexel International Corp		126
5,815	e	PDL BioPharma, Inc		45
6,277	*	Peregrine Pharmaceuticals, Inc		8
5,182		PerkinElmer, Inc		168
4,034		Perrigo Co		488
311,427		Pfizer, Inc		8,723
2,681	*	Pharmacyclics, Inc		213
457	*	Portola Pharmaceuticals, Inc		11
1,425	*	Pozen, Inc		7
2,427	*	Progenics Pharmaceuticals, Inc		11
554	*	Prothena Corp plc		7
1,018	*	Puma Biotechnology, Inc		45
11,224	*	Qiagen N.V. (NASDAQ)		223
2,607	e	Questcor Pharmaceuticals, Inc		119
937	*	Quintiles Transnational Holdings, Inc		40
2,377	*,e	Raptor Pharmaceutical Corp		22
256	*	Receptos, Inc		5
3,668	*	Regeneron Pharmaceuticals, Inc		825
424	*	Regulus Therapeutics, Inc		4
1,493	*	Repligen Corp		12
714	*,e	Repros Therapeutics, Inc		13
3,471	*	Rigel Pharmaceuticals, Inc		12
747	*	Sagent Pharmaceuticals		16
3,014	*	Salix Pharmaceuticals Ltd		199
2,157	*,e	Sangamo Biosciences, Inc		17
2,562	*	Santarus, Inc		54
1,265	*	Sarepta Therapeutics, Inc		48
2,738	*	Sciclone Pharmaceuticals, Inc		14
4,705	*,e	Seattle Genetics, Inc		148
4,993	*,e	Sequenom, Inc		21
1,470	*,e	SIGA Technologies, Inc		4
2,652	e	Spectrum Pharmaceuticals, Inc		20
414	*	Stemline Therapeutics, Inc		10
620	*	Sucampo Pharmaceuticals, Inc (Class A)		4
1,424	*	Sunesis Pharmaceuticals, Inc		7
632	*	Supernus Pharmaceuticals, Inc		4
776	*	Synageva BioPharma Corp		33
3,578	*,e	Synergy Pharmaceuticals, Inc		15
1,821	*,e	Synta Pharmaceuticals Corp		9
1,257	*	Targacept, Inc		5
1,792		Techne Corp		124
603	*	TESARO, Inc		20
481	*	Tetraphase Pharmaceuticals, Inc		3
647	*	TG Therapeutics, Inc		4
3,604	*	TherapeuticsMD, Inc		11

32

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
3,349	*,e	Theravance, Inc	$	129
16,434		Thermo Electron Corp		1,391
2,098	*,e	Threshold Pharmaceuticals, Inc		11
1,733	*	Trius Therapeutics, Inc		14
2,129	*	United Therapeutics Corp		140
1,501	*	Vanda Pharmaceuticals, Inc		12
637	*	Verastem, Inc		9
10,133	*	Vertex Pharmaceuticals, Inc		809
3,055	*,e	Vical, Inc		10
3,102	*	Viropharma, Inc		89
4,844	*,e	Vivus, Inc		61
11,488		Warner Chilcott plc		228
3,923	*	Waters Corp		393
1,508	*	Xenoport, Inc		7
3,261	*,e	XOMA Corp		12
2,912	*,e	ZIOPHARM Oncology, Inc		6
23,763		Zoetis Inc		734
3,161	*	Zogenix, Inc		5
		TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES		64,431
REAL ESTATE - 3.7%
2,427		Acadia Realty Trust		60
755		AG Mortgage Investment Trust		14
505		Agree Realty Corp		15
1,979	*	Alexander & Baldwin, Inc		79
104		Alexander’s, Inc		31
3,234		Alexandria Real Estate Equities, Inc		213
1,154	*	Altisource Residential Corp		19
1,470		American Assets Trust, Inc		45
4,716		American Campus Communities, Inc		192
18,145		American Capital Agency Corp		417
1,755		American Capital Mortgage, Inc		32
7,027		American Realty Capital Properties, Inc		107
617	*	American Residential Properties, Inc		11
18,108		American Tower Corp		1,325
43,400		Annaly Capital Management, Inc		546
6,519		Anworth Mortgage Asset Corp		37
6,612		Apartment Investment & Management Co (Class A)		199
1,693		Apollo Commercial Real Estate Finance, Inc		27
378		Ares Commercial Real Estate Corp		5
719		Armada Hoffler Properties, Inc		8
17,114	*	ARMOUR Residential REIT, Inc		81
2,185		Ashford Hospitality Trust, Inc		25
2,311		Associated Estates Realty Corp		37
454	*	AV Homes, Inc		8
5,927		AvalonBay Communities, Inc		800
531		Aviv REIT, Inc		13
8,551		BioMed Realty Trust, Inc		173
6,942		Boston Properties, Inc		732
7,051		Brandywine Realty Trust		95
3,554		BRE Properties, Inc (Class A)		178
3,896		Camden Property Trust		269
2,582		Campus Crest Communities, Inc		30
4,070		Capital Lease Funding, Inc		34
4,568		Capstead Mortgage Corp		55
7,707		CBL & Associates Properties, Inc		165
12,793	*	CBRE Group, Inc		299
2,712		Cedar Shopping Centers, Inc		14
11,388	*	Chambers Street Properties		114
743		Chatham Lodging Trust		13
2,191		Chesapeake Lodging Trust		46
45,800		Chimera Investment Corp		137

33

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
4,044		Colonial Properties Trust	$	98
2,212		Colony Financial, Inc		44
267		Consolidated-Tomoka Land Co		10
958		Coresite Realty		30
3,770		Corporate Office Properties Trust		96
4,773		Cousins Properties, Inc		48
5,967		CubeSmart		95
886		CyrusOne, Inc		18
6,587		CYS Investments, Inc		61
13,100		DCT Industrial Trust, Inc		94
12,000		DDR Corp		200
8,922		DiamondRock Hospitality Co		83
5,887		Digital Realty Trust, Inc		359
6,476		Douglas Emmett, Inc		162
14,712		Duke Realty Corp		229
2,984		DuPont Fabros Technology, Inc		72
2,653		Dynex Capital, Inc		27
1,377		EastGroup Properties, Inc		77
5,215		Education Realty Trust, Inc		53
282		Ellington Residential Mortgage REIT		5
2,373		Entertainment Properties Trust		119
1,906		Equity Lifestyle Properties, Inc		150
2,651		Equity One, Inc		60
16,472		Equity Residential		956
1,723		Essex Property Trust, Inc		274
2,196		Excel Trust, Inc		28
5,080		Extra Space Storage, Inc		213
3,147		Federal Realty Investment Trust		326
5,675	*	FelCor Lodging Trust, Inc		34
4,909		First Industrial Realty Trust, Inc		74
2,547		First Potomac Realty Trust		33
7,235	*	Forest City Enterprises, Inc (Class A)		130
1,790	*	Forestar Real Estate Group, Inc		36
4,124		Franklin Street Properties Corp		54
27,223		General Growth Properties, Inc		541
1,193		Getty Realty Corp		25
498		Gladstone Commercial Corp		9
6,781		Glimcher Realty Trust		74
2,488		Government Properties Income Trust		63
2,207	*	Gramercy Property Trust, Inc		10
4,525		Hatteras Financial Corp		111
20,812		HCP, Inc		946
13,031		Health Care REIT, Inc		873
4,129		Healthcare Realty Trust, Inc		105
4,480		Healthcare Trust of America, Inc		50
9,247		Hersha Hospitality Trust		52
3,786		Highwoods Properties, Inc		135
2,366		Home Properties, Inc		155
6,635		Hospitality Properties Trust		174
34,098		Host Marriott Corp		575
1,731	*	Howard Hughes Corp		194
5,339		HRPT Properties Trust		123
1,893		Hudson Pacific Properties		40
4,699		Inland Real Estate Corp		48
6,118		Invesco Mortgage Capital, Inc		101
4,600		Investors Real Estate Trust		40
4,086	*	iStar Financial, Inc		46
2,081		Jones Lang LaSalle, Inc		190
1,790		Kennedy-Wilson Holdings, Inc		30
3,459		Kilroy Realty Corp		183
19,265		Kimco Realty Corp		413
3,606		Kite Realty Group Trust		22
4,298		LaSalle Hotel Properties		106

34

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
7,518		Lexington Corporate Properties Trust	$	88
5,246		Liberty Property Trust		194
1,589		LTC Properties, Inc		62
6,407		Macerich Co		391
4,214		Mack-Cali Realty Corp		103
2,583	*	Maguire Properties, Inc		8
6,789		Medical Properties Trust, Inc		97
16,597		MFA Mortgage Investments, Inc		140
1,993		Mid-America Apartment Communities, Inc		135
2,597		Monmouth Real Estate Investment Corp (Class A)		26
1,100		National Health Investors, Inc		66
5,458		National Retail Properties, Inc		188
11,619		New Residential Investment Corp		78
1,618		New York Mortgage Trust, Inc		11
8,819		NorthStar Realty Finance Corp		80
5,328		Omega Healthcare Investors, Inc		165
567		One Liberty Properties, Inc		12
1,685		Parkway Properties, Inc		28
2,708		Pebblebrook Hotel Trust		70
3,002		Pennsylvania Real Estate Investment Trust		57
2,341		Pennymac Mortgage Investment Trust		49
8,573		Piedmont Office Realty Trust, Inc		153
7,839		Plum Creek Timber Co, Inc		366
2,497		Post Properties, Inc		124
2,094		Potlatch Corp		85
22,814		Prologis, Inc		861
903		PS Business Parks, Inc		65
6,686		Public Storage, Inc		1,025
2,773		RAIT Investment Trust		21
2,750		Ramco-Gershenson Properties		43
5,944		Rayonier, Inc		329
5,466	*	Realogy Holdings Corp		263
8,997		Realty Income Corp		377
3,754		Redwood Trust, Inc		64
4,546		Regency Centers Corp		231
5,774		Resource Capital Corp		36
2,782		Retail Opportunities Investment Corp		39
5,469		Retail Properties of America, Inc		78
5,656		RLJ Lodging Trust		127
1,067		Rouse Properties, Inc		21
1,532		Ryman Hospitality Properties		60
1,780		Sabra Healthcare REIT, Inc		46
330		Saul Centers, Inc		15
786		Select Income REIT		22
8,612		Senior Housing Properties Trust		223
704		Silver Bay Realty Trust Corp		12
14,262		Simon Property Group, Inc		2,252
4,148		SL Green Realty Corp		366
1,406		Sovran Self Storage, Inc		91
2,486		Spirit Realty Capital, Inc		44
3,037	*,e	St. Joe Co		64
1,930		STAG Industrial, Inc		39
7,622		Starwood Property Trust, Inc		189
8,376	*	Strategic Hotels & Resorts, Inc		74
3,003		Summit Hotel Properties, Inc		28
1,647		Sun Communities, Inc		82
7,277	*	Sunstone Hotel Investors, Inc		88
4,466		Tanger Factory Outlet Centers, Inc		149
2,937		Taubman Centers, Inc		221
790	*	Tejon Ranch Co		23
540		Terreno Realty Corp		10
1,552		Thomas Properties Group, Inc		8
16,078		Two Harbors Investment Corp		165

35

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
11,759		UDR, Inc	$	300
507		UMH Properties, Inc		5
575		Universal Health Realty Income Trust		25
1,407		Urstadt Biddle Properties, Inc (Class A)		28
13,398		Ventas, Inc		931
8,538		Vornado Realty Trust		707
3,060		Washington Real Estate Investment Trust		82
5,688		Weingarten Realty Investors		175
560		Western Asset Mortgage Capital Corp		10
25,220		Weyerhaeuser Co		719
490		Whitestone REIT		8
1,412		Winthrop Realty Trust		17
2,631		WP Carey, Inc		174
		TOTAL REAL ESTATE		30,290
RETAILING - 4.4%
1,264	*	1-800-FLOWERS.COM, Inc (Class A)		8
3,462		Aaron’s, Inc		97
3,583		Abercrombie & Fitch Co (Class A)		162
3,368		Advance Auto Parts, Inc		273
3,935	*	Aeropostale, Inc		54
16,836	*	Amazon.com, Inc		4,675
8,838		American Eagle Outfitters, Inc		161
367	*	America’s Car-Mart, Inc		16
2,149	*	Ann Taylor Stores Corp		71
1,365	*	Asbury Automotive Group, Inc		55
5,511	*	Ascena Retail Group, Inc		96
857	*	Audiovox Corp (Class A)		11
2,213	*	Autonation, Inc		96
1,624	*	Autozone, Inc		688
1,708	*	Barnes & Noble, Inc		27
1,533		Bebe Stores, Inc		9
10,060	*	Bed Bath & Beyond, Inc		713
12,487		Best Buy Co, Inc		341
824		Big 5 Sporting Goods Corp		18
2,673	*	Big Lots, Inc		84
645	*	Blue Nile, Inc		24
578	*	Body Central Corp		8
447	e	Bon-Ton Stores, Inc		8
1,976		Brown Shoe Co, Inc		43
1,313	e	Buckle, Inc		68
2,171	*	Cabela’s, Inc		141
10,278	*	Carmax, Inc		474
966		Cato Corp (Class A)		24
7,426		Chico’s FAS, Inc		127
1,035	*	Children’s Place Retail Stores, Inc		57
836	*	Citi Trends, Inc		12
1,025	*,e	Conn’s, Inc		53
527		Core-Mark Holding Co, Inc		33
2,858	*,e	CST Brands, Inc		88
632		Destination Maternity Corp		16
2,260	*	Destination XL Group, Inc		14
4,508		Dick’s Sporting Goods, Inc		226
1,232		Dillard’s, Inc (Class A)		101
14,898	*	Dollar General Corp		751
10,336	*	Dollar Tree, Inc		525
1,596		DSW, Inc (Class A)		117
4,882		Expedia, Inc		294
4,341	*	Express Parent LLC		91
4,415		Family Dollar Stores, Inc		275
2,244		Finish Line, Inc (Class A)		49
1,207	*,e	Five Below, Inc		44

36

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
6,890		Foot Locker, Inc	$	242
2,024	*,e	Francesca’s Holdings Corp		56
1,790		Fred’s, Inc (Class A)		28
5,448	e	GameStop Corp (Class A)		229
12,777		Gap, Inc		533
1,189	*	Genesco, Inc		80
7,196		Genuine Parts Co		562
4,406		GNC Holdings, Inc		195
410	*	Gordmans Stores, Inc		6
1,038		Group 1 Automotive, Inc		67
18,747	*,e	Groupon, Inc		159
2,720		Guess?, Inc		84
983		Haverty Furniture Cos, Inc		23
626	*,e	HHgregg, Inc		10
1,197	*,e	Hibbett Sports, Inc		66
67,034		Home Depot, Inc		5,193
2,580	*,e	HomeAway, Inc		83
1,648		HSN, Inc		89
7,757	*,e	JC Penney Co, Inc		132
1,273	*,e	JOS A Bank Clothiers, Inc		53
705	*	Kirkland’s, Inc		12
10,160		Kohl’s Corp		513
10,941		L Brands, Inc		539
24,269	*	Liberty Media Holding Corp (Interactive A)		558
1,684	*	Liberty Ventures		143
1,015		Lithia Motors, Inc (Class A)		54
13,758	*	LKQ Corp		354
49,840		Lowe’s Companies, Inc		2,038
1,262	*	Lumber Liquidators, Inc		98
17,562		Macy’s, Inc		843
1,129	*	MarineMax, Inc		13
534	*,e	Mattress Firm Holding Corp		22
2,308		Men’s Wearhouse, Inc		87
1,383	e	Monro Muffler, Inc		66
2,301	*	NetFlix, Inc		486
888	*	New York & Co, Inc		6
6,641		Nordstrom, Inc		398
1,665		Nutri/System, Inc		20
10,992	*,e	Office Depot, Inc		43
3,821	e	OfficeMax, Inc		39
1,309	*,e	Orbitz Worldwide, Inc		11
5,080	*	O’Reilly Automotive, Inc		572
567	*	Overstock.com, Inc		16
1,931		Penske Auto Group, Inc		59
2,583	*	PEP Boys - Manny Moe & Jack		30
1,182	e	PetMed Express, Inc		15
4,720		Petsmart, Inc		316
4,307		Pier 1 Imports, Inc		101
2,360	*	Priceline.com, Inc		1,952
5,358	*,e	RadioShack Corp		17
2,636		Rent-A-Center, Inc		99
809	*	Restoration Hardware Holdings, Inc		61
10,068		Ross Stores, Inc		653
679	*	Rue21, Inc		28
4,759	*,e	Saks, Inc		65
7,565	*	Sally Beauty Holdings, Inc		235
1,774	*,e	Sears Holdings Corp		75
55	*	Sears Hometown and Outlet Stores, Inc		2
2,535	*	Select Comfort Corp		64
775		Shoe Carnival, Inc		19
1,725	*	Shutterfly, Inc		96
3,767		Signet Jewelers Ltd		254
1,782		Sonic Automotive, Inc (Class A)		38

37

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,474		Stage Stores, Inc	$	35
30,802		Staples, Inc		489
1,440		Stein Mart, Inc		20
461		Systemax, Inc		4
29,385		Target Corp		2,023
5,110		Tiffany & Co		372
834	*	Tile Shop Holdings, Inc		24
432	*	Tilly’s, Inc		7
32,958		TJX Companies, Inc		1,650
3,268		Tractor Supply Co		384
5,137	*	TripAdvisor, Inc		313
1,789	*	Tuesday Morning Corp		19
2,921		Ulta Salon Cosmetics & Fragrance, Inc		293
4,798	*	Urban Outfitters, Inc		193
1,789	*	Valuevision International, Inc (Class A)		9
1,052	*,e	Vitacost.com, Inc		9
1,434	*	Vitamin Shoppe, Inc		64
640	*	West Marine, Inc		7
5,043	*	Wet Seal, Inc (Class A)		24
1,736	*	WEX, Inc		133
4,468		Williams-Sonoma, Inc		250
133		Winmark Corp		9
1,336	*	Zale Corp		12
1,062	*	Zumiez, Inc		31
		TOTAL RETAILING		36,692
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 2.2%
1,955	*	Advanced Energy Industries, Inc		34
27,659	*,e	Advanced Micro Devices, Inc		113
844	*	Alpha & Omega Semiconductor Ltd		6
14,650		Altera Corp		483
834	*	Ambarella, Inc		14
2,929	*	Amkor Technology, Inc		12
3,097	*	Anadigics, Inc		7
13,788		Analog Devices, Inc		621
55,002		Applied Materials, Inc		820
3,650	*	Applied Micro Circuits Corp		32
19,968	*	Atmel Corp		147
1,604	*	ATMI, Inc		38
11,265		Avago Technologies Ltd		421
5,359	*	Axcelis Technologies, Inc		10
25,584		Broadcom Corp (Class A)		864
3,308		Brooks Automation, Inc		32
1,066		Cabot Microelectronics Corp		35
2,349	*	Cavium Networks, Inc		83
1,137	*	Ceva, Inc		22
2,833	*,e	Cirrus Logic, Inc		49
1,302		Cohu, Inc		16
5,075	*	Cree, Inc		324
6,863	e	Cypress Semiconductor Corp		74
1,810	*	Diodes, Inc		47
1,224	*	DSP Group, Inc		10
6,714	*	Entegris, Inc		63
4,315	*	Entropic Communications, Inc		18
2,381	*	Exar Corp		26
5,825	*	Fairchild Semiconductor International, Inc		80
2,736	*,e	First Solar, Inc		122
2,618	*	Formfactor, Inc		18
2,583	*,e	Freescale Semiconductor Holdings Ltd		35
1,030	*	GSI Technology, Inc		7
5,512	*,e	GT Solar International, Inc		23
1,461	*	Hittite Microwave Corp		85

38

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,024	*	Inphi Corp	$	11
6,477	*	Integrated Device Technology, Inc		51
1,216	*	Integrated Silicon Solution, Inc		13
227,613		Intel Corp		5,513
643	*	Intermolecular, Inc		5
3,305	*	International Rectifier Corp		69
6,580		Intersil Corp (Class A)		51
1,231		IXYS Corp		14
7,603		Kla-Tencor Corp		424
3,559	*	Kopin Corp		13
7,445	*	Lam Research Corp		330
5,950	*	Lattice Semiconductor Corp		30
10,654		Linear Technology Corp		392
25,784	*	LSI Logic Corp		184
2,408	*	LTX-Credence Corp		14
282	*	MA-COM Technology Solutions		4
18,058		Marvell Technology Group Ltd		211
13,341		Maxim Integrated Products, Inc		371
1,067	*	MaxLinear, Inc		7
2,455		Micrel, Inc		24
9,026		Microchip Technology, Inc		336
47,149	*	Micron Technology, Inc		676
4,299	*	Microsemi Corp		98
1,664	*,e	Mindspeed Technologies, Inc		5
2,438		MKS Instruments, Inc		65
1,520		Monolithic Power Systems, Inc		37
1,391	*	MoSys, Inc		6
1,014	*	Nanometrics, Inc		15
1,019	*	NeoPhotonics Corp Ltd		9
258	*	NVE Corp		12
26,490		Nvidia Corp		372
2,460	*	Omnivision Technologies, Inc		46
20,679	*	ON Semiconductor Corp		167
1,181	*	PDF Solutions, Inc		22
1,211	*	Peregrine Semiconductor Corp		13
1,447	*	Pericom Semiconductor Corp		10
2,703	*	Photronics, Inc		22
1,628	*	PLX Technology, Inc		8
9,550	*	PMC - Sierra, Inc		61
1,292		Power Integrations, Inc		52
5,356	*	Rambus, Inc		46
12,804	*	RF Micro Devices, Inc		69
782	*,e	Rubicon Technology, Inc		6
1,464	*	Rudolph Technologies, Inc		16
3,192	*	Semtech Corp		112
1,525	*	Sigma Designs, Inc		8
4,055	*	Silicon Image, Inc		24
1,948	*	Silicon Laboratories, Inc		81
8,726	*	Skyworks Solutions, Inc		191
2,245	*	Spansion, Inc		28
10,399	*	SunEdison, Inc		85
1,881	*,e	SunPower Corp		39
493		Supertex, Inc		12
8,744	*	Teradyne, Inc		154
2,606		Tessera Technologies, Inc		54
50,782		Texas Instruments, Inc		1,771
7,513	*	Triquint Semiconductor, Inc		52
928	*	Ultra Clean Holdings		6
1,279	*	Ultratech, Inc		47
1,796	*,e	Veeco Instruments, Inc		64
1,235	*	Volterra Semiconductor Corp		17
12,090		Xilinx, Inc		479
		TOTAL SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT		17,915

39

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
SOFTWARE & SERVICES - 9.6%
2,523	*	Accelrys, Inc	$	21
29,428		Accenture plc		2,118
1,829	*	ACI Worldwide, Inc		85
2,363	*	Active Network, Inc		18
19,562		Activision Blizzard, Inc		279
2,448	*	Actuate Corp		16
3,603	*	Acxiom Corp		82
23,041	*	Adobe Systems, Inc		1,050
1,562	*	Advent Software, Inc		55
8,200	*	Akamai Technologies, Inc		349
2,276	*	Alliance Data Systems Corp		412
7,726		Amdocs Ltd		287
764		American Software, Inc (Class A)		7
1,936	*	Angie’s List, Inc		51
4,300	*	Ansys, Inc		314
3,546		AOL, Inc		129
4,286	*	Aspen Technology, Inc		123
10,341	*	Autodesk, Inc		351
22,217		Automatic Data Processing, Inc		1,530
911	*	AVG Technologies NV		18
2,248	*,e	Bankrate, Inc		32
2,221	*	Bazaarvoice, Inc		21
2,324		Blackbaud, Inc		76
516	*	Blackhawk Network Holdings, Inc		12
2,003	*	Blucora, Inc		37
6,592	*	BMC Software, Inc		298
1,405		Booz Allen Hamilton Holding Co		24
1,713	*	Bottomline Technologies, Inc		43
1,247	*	Brightcove, Inc		11
5,554		Broadridge Financial Solutions, Inc		148
1,345	*	BroadSoft, Inc		37
15,216		CA, Inc		436
1,058	*,e	CACI International, Inc (Class A)		67
13,010	*	Cadence Design Systems, Inc		188
1,555	*,e	Callidus Software, Inc		10
540	*,e	Carbonite, Inc		7
2,159	*	Cardtronics, Inc		60
480		Cass Information Systems, Inc		22
246	*	ChannelAdvisor Corp		4
3,700	*	Ciber, Inc		12
8,610	*	Citrix Systems, Inc		519
643	*,m	Clinical Data, Inc		1
13,812	*	Cognizant Technology Solutions Corp (Class A)		865
2,159	*	Commvault Systems, Inc		164
6,876		Computer Sciences Corp		301
760		Computer Task Group, Inc		17
9,466		Compuware Corp		98
1,622	*	comScore, Inc		40
1,059	*	Comverse, Inc		32
2,134	*,e	Concur Technologies, Inc		174
1,503	*,e	Constant Contact, Inc		24
5,243		Convergys Corp		91
1,851	*	Cornerstone OnDemand, Inc		80
1,288	*	CoStar Group, Inc		166
1,795	*	CSG Systems International, Inc		39
331	*	Cyan, Inc		3
2,053	*	DealerTrack Holdings, Inc		73
1,448	*	Demand Media, Inc		9
662	*,e	Demandware, Inc		28
1,843	*	Dice Holdings, Inc		17
1,607	*	Digital River, Inc		30
335		DMRC Corp		7

40

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,549		DST Systems, Inc	$	101
664	*	E2open, Inc		12
4,694		Earthlink, Inc		29
59,422	*	eBay, Inc		3,073
316	*	eGain Corp		3
14,001	*	Electronic Arts, Inc		322
1,070	*	Ellie Mae, Inc		25
993	*	Envestnet, Inc		24
939	*	EPAM Systems, Inc		26
1,587		EPIQ Systems, Inc		21
206		ePlus, Inc		12
2,259	*	Equinix, Inc		417
2,584	*	Euronet Worldwide, Inc		82
1,354	*	EVERTEC, Inc		30
1,964	*	ExactTarget, Inc		66
1,501	*	ExlService Holdings, Inc		44
78,002	*	Facebook, Inc		1,939
2,009	e	Factset Research Systems, Inc		205
1,607		Fair Isaac Corp		74
11,286		Fidelity National Information Services, Inc		483
4,265	*	First American Corp		99
6,233	*	Fiserv, Inc		545
3,111	*	FleetCor Technologies, Inc		253
751	*	FleetMatics Group plc		25
573		Forrester Research, Inc		21
6,352	*	Fortinet, Inc		111
4,427	*	Gartner, Inc		252
7,713		Genpact Ltd		148
1,221	*,m	Gerber Scientific, Inc		0	^
2,712	*	Global Cash Access, Inc		17
983	*	Global Eagle Entertainment, Inc		10
3,638		Global Payments, Inc		169
2,157	*,e	Glu Mobile, Inc		5
12,348	*	Google, Inc (Class A)		10,871
680	*	Guidance Software, Inc		6
1,834	*	Guidewire Software, Inc		77
1,547		Hackett Group, Inc		8
1,893	e	Heartland Payment Systems, Inc		71
1,560	*,e	Higher One Holdings, Inc		18
3,483		IAC/InterActiveCorp		166
1,449	*	iGate Corp		24
894	*	Imperva, Inc		40
2,288	*	Infoblox, Inc		67
4,979	*	Informatica Corp		174
766	*	Interactive Intelligence, Inc		40
3,256	*	Internap Network Services Corp		27
47,669		International Business Machines Corp		9,110
13,594		Intuit, Inc		830
2,215	e	j2 Global, Inc		94
3,917		Jack Henry & Associates, Inc		185
1,823	*,e	Jive Software, Inc		33
941		Keynote Systems, Inc		19
1,403	*	Knot, Inc		16
4,002		Lender Processing Services, Inc		129
3,363	*	Limelight Networks, Inc		8
4,137	*	LinkedIn Corp		738
3,304	*	Lionbridge Technologies		10
1,143	*,e	Liquidity Services, Inc		40
2,686	*	Liveperson, Inc		24
1,024	*	LogMeIn, Inc		25
716	*	magicJack VocalTec Ltd		10
887	*	Manhattan Associates, Inc		68
1,171	e	Mantech International Corp (Class A)		31

41

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,311		Marchex, Inc (Class B)	$	8
397	*	Marin Software, Inc		4
1,092	*	Market Leader, Inc		12
335	*	Marketo, Inc		8
5,351		Mastercard, Inc (Class A)		3,074
1,559		MAXIMUS, Inc		116
4,392		Mentor Graphics Corp		86
3,548	*,e	Micros Systems, Inc		153
381,020		Microsoft Corp		13,157
425	*	MicroStrategy, Inc (Class A)		37
1,497	*,e	Millennial Media, Inc		13
704	*	Mitek Systems, Inc		4
304	*	Model N, Inc		7
2,352	*	ModusLink Global Solutions, Inc		7
1,065	*	MoneyGram International, Inc		24
1,800		Monotype Imaging Holdings, Inc		46
5,128	*	Monster Worldwide, Inc		25
2,146	*	Move, Inc		28
1,792	*	Netscout Systems, Inc		42
1,600	*	NetSuite, Inc		147
3,278	*	NeuStar, Inc (Class A)		160
2,981		NIC, Inc		49
11,833	*	Nuance Communications, Inc		217
1,047	*,e	OpenTable, Inc		67
162,785		Oracle Corp		5,001
5,911	*,e	Pandora Media, Inc		109
14,848		Paychex, Inc		542
792		Pegasystems, Inc		26
1,536	*	Perficient, Inc		20
2,014	*	Planet Payment, Inc		6
958	*	PRG-Schultz International, Inc		5
2,541	*	Progress Software Corp		58
985	*	Proofpoint, Inc		24
1,099	*	PROS Holdings, Inc		33
5,492	*	PTC, Inc		135
400		QAD, Inc (Class A)		5
3,971	*	QLIK Technologies, Inc		112
700	*	Qualys, Inc		11
1,192	*	QuinStreet, Inc		10
5,171	*	Rackspace Hosting, Inc		196
325	*	Rally Software Development Corp		8
1,085		RealNetworks, Inc		8
2,115	*,e	RealPage, Inc		39
8,690	*	Red Hat, Inc		416
393	*	Reis, Inc		7
1,734	*	Responsys, Inc		25
560	*	Rosetta Stone, Inc		8
4,739	*	Rovi Corp		108
13,380		SAIC, Inc		186
27,010	*	Salesforce.com, Inc		1,031
594		Sapiens International Corp NV		3
5,190		Sapient Corp		68
1,059	*	Sciquest, Inc		27
1,446	*	Seachange International, Inc		17
3,587	*,e	ServiceNow, Inc		145
2,827	*	ServiceSource International LLC		26
341	*	Shutterstock, Inc		19
256	*	Silver Spring Networks, Inc		6
2,993	*	SolarWinds, Inc		116
3,154		Solera Holdings, Inc		176
1,445	*	Sourcefire, Inc		80
738	*	Spark Networks, Inc		6
4,690	*	Splunk, Inc		217

42

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
690	*	SPS Commerce, Inc	$	38
2,660	*	SS&C Technologies Holdings, Inc		88
595	*	Stamps.com, Inc		23
2,697	*	SupportSoft, Inc		12
1,911	*	SYKES Enterprises, Inc		30
31,895		Symantec Corp		717
1,334	*	Synchronoss Technologies, Inc		41
7,043	*	Synopsys, Inc		252
744		Syntel, Inc		47
1,633	*	TA Indigo Holding Corp		12
431	*	Tableau Software, Inc		24
3,743	*	Take-Two Interactive Software, Inc		56
1,464	*	Tangoe, Inc		23
598	*	TechTarget, Inc		3
834	*	TeleNav, Inc		4
922	*	TeleTech Holdings, Inc		22
7,640	*	Teradata Corp		384
7,528	*	TIBCO Software, Inc		161
5,735	*	TiVo, Inc		63
7,492		Total System Services, Inc		183
285	*	Travelzoo, Inc		8
1,105	*	Trulia, Inc		34
1,414	*	Tyler Technologies, Inc		97
1,265	*	Ultimate Software Group, Inc		148
2,160	*	Unisys Corp		48
4,557		United Online, Inc		35
4,315	*	Unwired Planet, Inc		8
3,507	*	Valueclick, Inc		87
3,993	*	Vantiv, Inc		110
1,577	*	Vasco Data Security International		13
5,078	*	VeriFone Systems, Inc		85
2,204	*	Verint Systems, Inc		78
6,533	*	VeriSign, Inc		292
2,063	*,e	VirnetX Holding Corp		41
924	*	Virtusa Corp		20
24,073		Visa, Inc (Class A)		4,399
1,503	*,e	VistaPrint Ltd		74
3,910	*	VMware, Inc (Class A)		262
792	*	Vocus, Inc		8
2,387	*	Vringo, Inc		8
1,628	*	WebMD Health Corp (Class A)		48
1,887	*	Website Pros, Inc		48
26,169		Western Union Co		448
1,695	*	Workday, Inc		109
320	*	Xoom Corp		7
43,472	*	Yahoo!, Inc		1,092
1,351	*	Yelp, Inc		47
948	*,e	Zillow, Inc		53
3,311	*	Zix Corp		14
26,749	*,e	Zynga, Inc		74
		TOTAL SOFTWARE & SERVICES		79,724
TECHNOLOGY HARDWARE & EQUIPMENT - 5.4%
4,609	*,e	3D Systems Corp		202
2,898	e	Adtran, Inc		71
1,059	*	Agilysys, Inc		12
274		Alliance Fiber Optic Products, Inc		5
7,323		Amphenol Corp (Class A)		571
640	*	Anaren, Inc		15
1,193		Anixter International, Inc		90
42,981		Apple, Inc		17,024
5,392	*	ARRIS Group, Inc		77
4,601	*	Arrow Electronics, Inc		183

43

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
5,242	*	Aruba Networks, Inc	$	81
308	*	Audience, Inc		4
1,355	*	Avid Technology, Inc		8
6,101	*	Avnet, Inc		205
1,276		AVX Corp		15
995	*	AX Holding Corp		8
653		Badger Meter, Inc		29
674		Bel Fuse, Inc (Class B)		9
2,053	*	Benchmark Electronics, Inc		41
755		Black Box Corp		19
20,361	*	Brocade Communications Systems, Inc		117
1,369	*	CalAmp Corp		20
1,907	*	Calix Networks, Inc		19
1,874	*	Checkpoint Systems, Inc		27
4,653	*	Ciena Corp		90
244,713		Cisco Systems, Inc		5,949
2,099		Cognex Corp		95
1,087		Coherent, Inc		60
784		Comtech Telecommunications Corp		21
67,524		Corning, Inc		961
1,943	*	Cray, Inc		38
1,679		CTS Corp		23
2,087		Daktronics, Inc		21
708	*	Datalink Corp		8
57,362		Dell, Inc		766
2,915		Diebold, Inc		98
1,490	*	Digi International, Inc		14
2,076	e	Dolby Laboratories, Inc (Class A)		69
1,102	*	DTS, Inc		23
1,847	*	EchoStar Corp (Class A)		72
1,000		Electro Rent Corp		17
1,074		Electro Scientific Industries, Inc		12
2,122	*	Electronics for Imaging, Inc		60
96,183		EMC Corp		2,272
3,637	*	Emulex Corp		24
4,537	*	Extreme Networks, Inc		16
3,611	*	F5 Networks, Inc		248
1,202	*	Fabrinet		17
851	*	FARO Technologies, Inc		29
1,763		FEI Co		129
4,415	*,e	Finisar Corp		75
6,501		Flir Systems, Inc		175
3,454	*,e	Fusion-io, Inc		49
1,197	*	Globecomm Systems, Inc		15
1,328	*	GSI Group, Inc		11
5,307	*	Harmonic, Inc		34
5,023		Harris Corp		247
3,340	*	Harris Stratex Networks, Inc (Class A)		9
89,004		Hewlett-Packard Co		2,207
658	*	Hutchinson Technology, Inc		3
1,552	*	Imation Corp		7
1,305	*	Immersion Corp		17
5,305	*,e	Infinera Corp		57
7,086	*	Ingram Micro, Inc (Class A)		135
1,984	*	Insight Enterprises, Inc		35
1,861	e	InterDigital, Inc		83
2,592	*	Intermec, Inc		25
2,619	*,e	InvenSense, Inc		40
1,522	e	IPG Photonics Corp		92
1,761	*	Itron, Inc		75
2,593	*	Ixia		48
8,999		Jabil Circuit, Inc		183
10,901	*	JDS Uniphase Corp		157

44

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
23,184	*	Juniper Networks, Inc	$	448
2,177	*	Kemet Corp		9
758	*	KVH Industries, Inc		10
2,911	e	Lexmark International, Inc (Class A)		89
1,051		Littelfuse, Inc		78
1,385	*,e	Maxwell Technologies, Inc		10
742	*	Measurement Specialties, Inc		35
1,540	*	Mercury Computer Systems, Inc		14
126		Mesa Laboratories, Inc		7
1,672		Methode Electronics, Inc		28
6,361		Molex, Inc		187
11,089		Motorola, Inc		640
731		MTS Systems Corp		41
555	*	Multi-Fineline Electronix, Inc		8
4,414		National Instruments Corp		123
7,533	*	NCR Corp		249
1,120	*,e	Neonode, Inc		7
16,513	*	NetApp, Inc		624
1,861	*	Netgear, Inc		57
1,913	*	Newport Corp		27
496	*	Numerex Corp		6
897	*	Oplink Communications, Inc		16
970	*	OSI Systems, Inc		62
1,517	*	Palo Alto Networks, Inc		64
1,164		Park Electrochemical Corp		28
3,576	*,e	Parkervision, Inc		16
430		PC Connection, Inc		7
850		PC-Tel, Inc		7
2,022		Plantronics, Inc		89
1,613	*	Plexus Corp		48
8,061	*	Polycom, Inc		85
3,047	*	Power-One, Inc		19
950	*	Procera Networks, Inc		13
4,059	*	QLogic Corp		39
79,123		Qualcomm, Inc		4,833
11,444	*	Quantum Corp		16
1,782	*	Rackable Systems, Inc		24
1,200	*	Radisys Corp		6
1,970	*	RealD, Inc		27
717		Richardson Electronics Ltd		8
7,292	*	Riverbed Technology, Inc		113
1,445	*	Rofin-Sinar Technologies, Inc		36
790	*	Rogers Corp		37
1,995	*	Ruckus Wireless, Inc		26
11,140	*	SanDisk Corp		681
3,808	*	Sanmina Corp		55
1,187	*	Scansource, Inc		38
2,605	*	ShoreTel, Inc		10
11,025	*	Sonus Networks, Inc		33
1,545	*,e	STEC, Inc		10
1,453	*	Stratasys Ltd		122
1,355	*	Super Micro Computer, Inc		14
2,360	*	Symmetricom, Inc		11
1,420	*	Synaptics, Inc		55
872	*	SYNNEX Corp		37
1,618	*	Tech Data Corp		76
17,269		Tellabs, Inc		34
247		Tessco Technologies, Inc		7
11,800	*	Trimble Navigation Ltd		307
2,608	*	TTM Technologies, Inc		22
484		Ubiquiti Networks, Inc		8
432	*	Uni-Pixel, Inc		6
1,939	*,e	Universal Display Corp		55

45

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
1,815	*	Viasat, Inc	$	130
128	*	Viasystems Group, Inc		1
5,324	*	Vishay Intertechnology, Inc		74
654	*	Vishay Precision Group, Inc		10
2,690	*	Westell Technologies, Inc		6
9,677		Western Digital Corp		601
56,234		Xerox Corp		510
2,314	*	Zebra Technologies Corp (Class A)		101
777	*	Zygo Corp		12
		TOTAL TECHNOLOGY HARDWARE & EQUIPMENT		45,105
TELECOMMUNICATION SERVICES - 2.4%
3,067	*	8x8, Inc		25
246,361		AT&T, Inc		8,721
490		Atlantic Tele-Network, Inc		24
769	*,e	Boingo Wireless, Inc		5
1,035	*	Cbeyond Communications, Inc		8
27,886		CenturyTel, Inc		986
10,048	*	Cincinnati Bell, Inc		31
25,291	*	Clearwire Corp (Class A)		126
2,196		Cogent Communications Group, Inc		62
1,753		Consolidated Communications Holdings, Inc		31
13,453	*	Crown Castle International Corp		974
1,092	*,e	Fairpoint Communications, Inc		9
45,641	e	Frontier Communications Corp		185
1,464	*	General Communication, Inc (Class A)		11
705		HickoryTech Corp		8
609		IDT Corp (Class B)		11
2,355	*	inContact, Inc		19
1,751		Inteliquent, Inc		10
886	*	Intelsat S.A.		18
2,990	*,e	Iridium Communications, Inc		23
3,167	*,e	Leap Wireless International, Inc		21
7,503	*	Level 3 Communications, Inc		158
757		Lumos Networks Corp		13
7,870	*,e	NII Holdings, Inc (Class B)		53
757		NTELOS Holdings Corp		12
1,760	*	Orbcomm, Inc		8
2,509	*	Premiere Global Services, Inc		30
586		Primus Telecommunications Group, Inc		7
5,889	*	SBA Communications Corp (Class A)		437
1,093		Shenandoah Telecom Co		18
111,721	*	Sprint Nextel Corp		784
4,484		Telephone & Data Systems, Inc		111
7,019		T-Mobile US, Inc		174
1,746	*,e	Towerstream Corp		4
6,812	*	tw telecom inc (Class A)		192
580		US Cellular Corp		21
1,177		USA Mobility, Inc		16
131,014		Verizon Communications, Inc		6,595
7,062	*	Vonage Holdings Corp		20
27,433	e	Windstream Corp		212
		TOTAL TELECOMMUNICATION SERVICES		20,173
TRANSPORTATION - 1.9%
2,669	*	Air Transport Services Group, Inc		18
3,132	*	Alaska Air Group, Inc		163
683		Allegiant Travel Co		72
337		Amerco, Inc		55
1,342		Arkansas Best Corp		31
1,180	*	Atlas Air Worldwide Holdings, Inc		52
4,667	*	Avis Budget Group, Inc		134

46

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
988	*	Celadon Group, Inc	$	18
7,359		CH Robinson Worldwide, Inc		414
2,582		Con-Way, Inc		101
1,521		Copa Holdings S.A. (Class A)		199
46,942		CSX Corp		1,089
39,238	*	Delta Air Lines, Inc		734
812	*	Echo Global Logistics, Inc		16
9,458		Expeditors International of Washington, Inc		359
14,499		FedEx Corp		1,429
1,381		Forward Air Corp		53
1,945	*	Genesee & Wyoming, Inc (Class A)		165
2,405	*	Hawaiian Holdings, Inc		15
2,109		Heartland Express, Inc		29
15,489	*	Hertz Global Holdings, Inc		384
1,702	*	Hub Group, Inc (Class A)		62
374		International Shipholding Corp		9
4,019		J.B. Hunt Transport Services, Inc		290
9,209	*,e	JetBlue Airways Corp		58
5,044		Kansas City Southern Industries, Inc		534
2,596	*	Kirby Corp		206
3,018		Knight Transportation, Inc		51
2,283		Landstar System, Inc		118
348		Marten Transport Ltd		5
1,942		Matson, Inc		49
14,524		Norfolk Southern Corp		1,055
3,307	*	Old Dominion Freight Line		138
2,338	*	Pacer International, Inc		15
421	*	Park-Ohio Holdings Corp		14
309	*	Patriot Transportation Holding, Inc		9
748	*	Quality Distribution, Inc		7
2,007	*	Republic Airways Holdings, Inc		23
437	*	Roadrunner Transportation Services Holdings, Inc		12
2,384		Ryder System, Inc		145
1,350	*	Saia, Inc		40
2,348		Skywest, Inc		32
33,061		Southwest Airlines Co		426
2,757	*	Spirit Airlines, Inc		88
3,842	*	Swift Transportation Co, Inc		64
15,475	*	UAL Corp		484
21,465		Union Pacific Corp		3,311
33,166		United Parcel Service, Inc (Class B)		2,868
200		Universal Truckload Services, Inc		5
7,760	*,e	US Airways Group, Inc		127
5,030		UTI Worldwide, Inc		83
2,203	e	Werner Enterprises, Inc		53
1,842	*	Wesco Aircraft Holdings, Inc		34
842	*,e	XPO Logistics, Inc		15
440	*	YRC Worldwide, Inc		13
		TOTAL TRANSPORTATION		15,973
UTILITIES - 3.3%
28,400		AES Corp		340
5,415		AGL Resources, Inc		232
1,847		Allete, Inc		92
5,073		Alliant Energy Corp		256
11,106		Ameren Corp		382
22,257		American Electric Power Co, Inc		997
877		American States Water Co		47
8,035		American Water Works Co, Inc		331
6,661		Aqua America, Inc		208
366		Artesian Resources Corp		8
5,498	e	Atlantic Power Corp		22
4,152		Atmos Energy Corp		170

47

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,754		Avista Corp	$	74
2,076		Black Hills Corp		101
2,026		California Water Service Group		39
18,074	*	Calpine Corp		384
19,622		Centerpoint Energy, Inc		461
447		Chesapeake Utilities Corp		23
2,716		Cleco Corp		126
11,966		CMS Energy Corp		325
518		Connecticut Water Service, Inc		15
13,409		Consolidated Edison, Inc		782
892		Consolidated Water Co, Inc		10
339		Delta Natural Gas Co, Inc		7
26,449		Dominion Resources, Inc		1,503
7,903		DTE Energy Co		530
32,312		Duke Energy Corp		2,181
4,582	*	Dynegy, Inc		103
14,756		Edison International		711
1,646		El Paso Electric Co		58
1,683		Empire District Electric Co		38
8,067		Entergy Corp		562
39,195		Exelon Corp		1,210
19,153		FirstEnergy Corp		715
609		Genie Energy Ltd		6
6,564		Great Plains Energy, Inc		148
4,806	e	Hawaiian Electric Industries, Inc		122
2,116		Idacorp, Inc		101
3,620		Integrys Energy Group, Inc		212
2,302		ITC Holdings Corp		210
1,419		Laclede Group, Inc		65
8,599		MDU Resources Group, Inc		223
1,053		MGE Energy, Inc		58
813		Middlesex Water Co		16
3,367		National Fuel Gas Co		195
2,008		New Jersey Resources Corp		83
19,386		NextEra Energy, Inc		1,580
13,919		NiSource, Inc		399
14,416		Northeast Utilities		606
1,299		Northwest Natural Gas Co		55
1,761		NorthWestern Corp		70
14,767		NRG Energy, Inc		394
10,662		NV Energy, Inc		250
4,542		OGE Energy Corp		310
9,618		Oneok, Inc		397
919		Ormat Technologies, Inc		22
1,825		Otter Tail Corp		52
11,070		Pepco Holdings, Inc		223
20,132		PG&E Corp		921
3,459		Piedmont Natural Gas Co, Inc		117
5,024		Pinnacle West Capital Corp		279
3,642		PNM Resources, Inc		81
3,464		Portland General Electric Co		106
27,128		PPL Corp		821
23,269		Public Service Enterprise Group, Inc		760
549	*	Pure Cycle Corp		3
8,301		Questar Corp		198
6,317		SCANA Corp		310
11,116		Sempra Energy		909
678		SJW Corp		18
1,513		South Jersey Industries, Inc		87
39,982		Southern Co		1,764
2,114		Southwest Gas Corp		99
9,973		TECO Energy, Inc		171
5,211		UGI Corp		204

48

TIAA SEPARATE ACCOUNT VA-1 - Stock Index Account

SHARES		COMPANY	VALUE (000)
2,315		UIL Holdings Corp	$	89
597		Unitil Corp		17
1,902		UNS Energy Corp		85
3,907		Vectren Corp		132
5,819		Westar Energy, Inc		186
2,373		WGL Holdings, Inc		103
10,478		Wisconsin Energy Corp		429
22,717		Xcel Energy, Inc		644
672		York Water Co		13
		TOTAL UTILITIES		27,386
		TOTAL COMMON STOCKS (Cost $495,774)		823,763
RIGHTS / WARRANTS - 0.0%
AUTOMOBILES & COMPONENTS - 0.0%
996		Federal-Mogul Corp		0	^
		TOTAL AUTOMOBILES & COMPONENTS		0	^
ENERGY - 0.0%
559	e	Magnum Hunter Resources Corp		0	^
		TOTAL ENERGY		0	^
		TOTAL RIGHTS / WARRANTS (Cost $0)		0	^
SHORT-TERM INVESTMENTS - 2.5%
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED - 2.5%
INVESTMENTS IN REGISTERED INVESTMENT COMPANIES - 2.5%
20,391,405	c	TIAA-CREF Short Term Lending Portfolio of the State Street Navigator Securities Lending Trust		20,391
		TOTAL INVESTMENTS IN REGISTERED INVESTMENT COMPANIES		20,391
		TOTAL INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED		20,391
		TOTAL SHORT-TERM INVESTMENTS (Cost $20,391)		20,391
		TOTAL INVESTMENTS - 102.0% (Cost $516,165)		844,154
		OTHER ASSETS & LIABILITIES, NET - (2.0)%		(16,794	)
		NET ASSETS - 100.0%	$	827,360

Abbreviation(s):

REIT Real Estate Investment Trust

* Non-income producing.

^ Amount represents less than $1,000.

c Investments made with cash collateral received from securities on loan.

d All or a portion of these securities have been segregated by the custodian to cover margin or other requirements on open futures transactions.

e All or a portion of these securities are out on loan. The aggregate value of securities on loan is $19,845,000.

m Indicates a security that has been deemed illiquid.

Cost amounts are in thousands.

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 Investment Company and Affiliated Purchasers.

Not applicable.

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

There were no material changes to the procedures by which contractowners may recommend nominees to the Registrant’s Management Committee.

Item 11. Controls and Procedures.

(a) An evaluation was performed within 90 days of the filing date of the report 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) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s second fiscal quarter of the period covered by this report 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

12(a)(2)(ii) Section 302 certification of the principal financial officer

12(b) Section 906 certification of principal executive officer and principal financial officer

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 16, 2013	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		Chief Executive Officer and President

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 16, 2013	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		Chief Executive Officer and President
		(principal executive officer)

Date: August 16, 2013	By:	/s/ Phillip G. Goff
		Phillip G. Goff
		Principal Financial Officer, Principal Accounting
		Officer and Treasurer
		(principal financial officer)

EXHIBIT INDEX

Item 12. Exhibits.

12(a)(2)(i) Section 302 certification of the principal executive officer

12(a)(2)(ii) Section 302 certification of the principal financial officer

12(b) Section 906 certification of principal executive officer and principal financial officer

EX-99.12(A)(2)(I)

Exhibit 12(a)(2)(i)

CERTIFICATION

I, Roger W. Ferguson, Jr., certify that:

1. I have reviewed this report on Form N-CSR of the 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 16, 2013	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		Chief Executive Officer and President
		(principal executive officer)

EX-99.12(A)(2)(II)

Exhibit 12(a)(2)(ii)

CERTIFICATION

I, Phillip G. Goff, certify that:

1. I have reviewed this report on Form N-CSR of the 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 16, 2013	By:	/s/ Phillip G. Goff
		Phillip G. Goff
		Principal Financial Officer, Principal Accounting
		Officer and Treasurer
		(principal financial officer)

EX-99.12(B)

Exhibit 12(b)

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 the TIAA Separate Account VA-1 does hereby certify, to such officer’s knowledge, that:

This report on Form N-CSR of the TIAA Separate Account VA-1 (the “Fund”) (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 Fund.

Dated: August 16, 2013	By:	/s/ Roger W. Ferguson, Jr.
		Roger W. Ferguson, Jr.
		Chief Executive Officer and President
		(principal executive officer)

Date: August 16, 2013	By:	/s/ Phillip G. Goff
		Phillip G. Goff
		Principal Financial Officer, Principal Accounting
		Officer and Treasurer
		(principal financial officer)